Charity number: 1183608
SUFFOLK SIGHT
Charitable Incorporated Organisation (CIO)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Suffolk Sight
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 33 |
Suffolk Sight
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | G M Staff, Chair |
|---|---|
| S W J Hodgkiss, Vice Chair | |
| A Kelly* | |
| M Peak* | |
| C Presland*(resigned 11 August 2022) | |
| A Sheppard | |
| N A Broadbent | |
| G Chambers* | |
| * visually impaired Charity registered number 1183608 Principal office West Suffolk Disability Resource Centre 4 Bunting Road Bury St Edmunds Suffolk IP32 7BX Chief executive officer Operations Manager Financial Controller Stephanie O'Donoghue Jade Rowlinson Alexandra Sibun Accountants Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Investment managers CCLA 1 Angel Lane London EC4R 3AB |
Page 1
Suffolk Sight
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Board of Management who are the Trustees for the purposes of the Charities Act submit this report and Financial Statements of Suffolk Sight CIO (the Charity) for the twelve-month period ending 31 March 2023. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
The demand for the charity’s services continued to grow and remained at a high level throughout the year. Some of the changes to our delivery model that were necessitated by the restrictions in place at various times, such as offering more remote support, were retained and refined to optimise our delivery and use resources efficiently. Overall, the year saw the charity continue to consolidate its work bringing together the voluntary sector sightsupport services into one county-wide organisation.
Structure, governance and management
a. Constitution
Suffolk Sight CIO's (hereafter referred to as Suffolk Sight) activities are governed by its Constitution last amended and approved on 11 October 2021, which sets out the nature and limitations of the charity’s work with local blind and partially-sighted people.
The management of the charity is the responsibility of the Board of Trustees who are elected, appointed and coopted under the terms of the Charity Commission Scheme.
b. Recruitment and induction of Trustees
New trustees are currently appointed at the Annual General Meeting or at any point in the year by the decision of the trustee board. Induction is carried out by the Chair and Chief Executive. A Trustee Handbook provides information about Suffolk Sight and the roles and responsibilities of its trustees. It is considered appropriate that a proportion of the trustees should be service users and currently four of the trustees have a visual impairment.
c. Organisational structure and decision-making policies
Suffolk Sight has a paid staff team to oversee provision of all services together with fifteen volunteer-run clubs that are all self-financing and run local social and activity groups for members of Suffolk Sight within their geographical areas. These clubs each operate their own bank accounts, however they operate and report within the registered charity and also operate under the charity’s single insurance policy.
Suffolk Sight’s strategic direction is set by its Board of Trustees which meets six times per year. Implementation of the strategy and management of the organisation is the responsibility of the part-time Chief Executive who is also responsible for the organisation's supporting infrastructure, assisted by a part-time Operations Manager, part-time Administrator and part-time Financial Controller. The other front-line members of staff are involved directly in the delivery of services to beneficiaries.
The Chair, Vice Chair and Chief Executive meet regularly to share information and consider important issues arising between board meetings. The Operations Manager holds a team meeting of all the paid staff every month to deal with operational matters.
Page 2
Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management (continued)
d. Pay policy for key management personnel
The Board of Trustees and the senior staff team (the Chief Executive, Operations Manager and Financial Controller) comprise the key management personnel of the charity, in charge of directing and controlling its dayto-day operations. The remuneration of the senior staff team is reviewed annually by the Trustees. Salary increases consider both inflation rates and affordability and comparison of salaries within the sector. None of our Trustees receive remuneration or other benefits from their work with the charity.
e. Collaboration with other charities
The Charity maintains close links with both national and other local charities within the sight-loss sector. It is an active member of Visionary, which is a national body that supports local voluntary sight-loss charities. It also has a close working relationship with Sensing Change (the sensory team for Suffolk County Council Social Services) and the four NHS Hospital Eye Clinics serving the population of Suffolk. The Charity administers distribution of radios on behalf of the British Wireless for the Blind Fund. Blind Veterans UK and the RNIB are referred to for provision of information and support for Suffolk Sight clients within their remits. The charity also recommends those who would benefit from a guide dog to the Guide Dogs for the Blind Association.
f. Risk management
The Board of Management have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to manage any exposure to identified major risks, which are subject to regular review. The trustees have recognised as a prime risk the need for on-going financial stability. Consequently, the operations team has continued to address overheads and work closely with Suffolk Sight’s commission-based external fund raiser.
Plans for future periods
The past year has shown that we have been able to quickly adapt to different ways of working and still maintain our provision of support to people across the county. In the future, we will ensure that our services continue to respond and develop in the most appropriate and safe way. In particular, we will:
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Continue to provide, develop and enhance the current range of core services and activities.
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Use the lessons learned during the coronavirus pandemic to develop service delivery, particularly where this is offered remotely or is reliant on technical solutions.
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Build on our links with statutory and community organisations, aiming to ensure that the needs of people with sight loss in Suffolk are met most appropriately.
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Maintain (and, where possible, increase) the numbers of people we support.
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Work with other sight-loss charities across the region to explore innovation and best practice.
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Update our policies and procedures to ensure they reflect legislation, best practice and our working arrangements.
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Increase and diversify membership of the Trustee Board.
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Invest in consolidating and developing fundraising activities and improving our communications.
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Improve training and development of staff, trustees and volunteers.
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Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Charitable objectives
a. Policies and objectives
Suffolk Sight’s principal objective is to provide support, welfare services and social activities enabling those experiencing sight loss in Suffolk to continue living independent and fulfilling lives within their home community wherever practical. Within the parameters set by its constitution, Suffolk Sight provides public benefit by supporting people with a visual impairment in endeavouring to maintain independence and quality of life. In the exercise of its powers to that end, Suffolk Sight has paid due regard to the published guidance from the Charity Commission on the operation of the Public Benefit requirement under the Charities Act 2011.
The overarching objective of Suffolk Sight is to relieve the needs of people who are visually impaired across Suffolk for the public benefit by providing the best support and care so that they can lead rich and fulfilling lives with the highest level of independence and by promoting the objectives to its members, beneficiaries and the wider communities in which it operates.
The main aims and objectives of the charity are:
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To provide appropriate help, support, advice and access to daily living aids that contribute to improving the quality of life of blind and partially sighted people; this includes a home visiting service and telephone support where appropriate; this also includes a low vision service (demonstration and training on the correct use of manual and electronic magnifiers) in client’s homes, where they are not able to or choose not to access the facilities at the hospital eye clinics. Through the equipment and resource centres at Bunting Road and Tower Street, to offer a facility where clients can visit to evaluate a range of daily living aids, as well as to have access to a trained Technology Advisor – themselves partially sighted - who can demonstrate a variety of IT products and offer training and technical support.
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To help people who use the charity's services to maintain choice and control over their lives.
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To raise awareness of the impact and benefits of CVI (Certificate of Visual Impairment) registration for blind or partially sighted people and to signpost/support people to register as appropriate.
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To provide appropriate support to ensure the service users' dignity and at all times respecting the choices service users make.
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To provide and facilitate monthly social meeting groups and other activity-based and recreational groups across our region.
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To raise awareness of eye health issues through education and involvement with local communities.
The Charity has at any time approximately 2,150 people in Suffolk on its database who are living with sight loss and who wish to benefit from its services. The RNIB statistics indicate that there are 29,600 people in Suffolk living with sight loss of whom 4,590 are registered sight impaired or severely sight impaired.
Main activities and achievements for the period
a. Main achievements of the Charity
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At the end of the reporting period, there were 2,150 registered beneficiaries on the Suffolk Sight database. The average age of new registrations continues to increase, largely due to continuously improved treatments but along with that we are finding that a lot of new registrants are suffering multiple disabilities and hence are being supported by several agencies.
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New referrals into Suffolk Sight came from the Eye Clinic Liaison Officers (ECLOs) at West Suffolk, Ipswich, James Paget and Addenbrookes hospitals, from Sensing Change and directly from individuals or family members, either through recommendation or through Suffolk Sight’s widely distributed trifold leaflets.
Page 4
Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Main activities and achievements for the period (continued)
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The primary activity is supporting visually impaired members through our seven Community Workers resolving their needs by a combination of home visits and telephone support, offering advice, providing solutions and making referrals to third-parties where appropriate. Inevitably we only are called upon to serve approximately 20% of our members at any one point in time but we endeavour to contact all of our members at least once a year to see if their circumstances have changed thus requiring our attention. The effects of the pandemic were still felt and a proportion of support has continued to be offered remotely, with face-toface support being given where appropriate, always in line with government guidance.
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Our Community Workers continue to use their magnification training from Optelec to both demonstrate and arrange purchase of simple and electronic hand-held magnifiers. This is an extremely valuable service particularly for those living without easy access to Low Vision clinics at the hospitals. Wherever possible they demonstrate a core set of daily living aids and provide catalogues and help where necessary to make sure that our members can purchase from a large range of other daily living aids. In most years we provide or help with the acquisition of over 1,000 items of daily living aids for our members. Where members are financially disadvantaged, we are able to assist in the purchase of small items by applying for appropriate grants or, where this is not applicable, via a fund kindly donated to Suffolk Sight by a number of charitable trusts and donors. For this, we and the members concerned are very appreciative.
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Suffolk Sight is able to assist its beneficiaries with applications for welfare benefits where appropriate, most commonly Attendance Allowance or Personal Independence Payments (PIP).
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Suffolk Sight has two trained Technology Advisors who can demonstrate a range of IT assistive technology products as well as provide training and technical support for member’s own IT equipment, both remotely and at the resource centres or in the beneficiary’s home.
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We have continued to offer our befriending scheme, which has seen increased demand throughout the year, with many people experiencing feelings of social isolation. The service was delivered by a mixture of telephone and face-to-face visits.
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The telephone counselling continued to offer support for beneficiaries struggling to come to terms with their sight loss and its impact on their lives.
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We also provide referrals to the RNIB for any of our members who require help getting back into or staying in employment.
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We encourage all of our members to receive talking newspapers and magazines from both local and national charities offering this service. In addition we help members get access to talking books either through the RNIB or through a charity called Calibre.
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We act as agents for a charity called British Wireless for the Blind (BWFB) who provide radios and radio/CD/USB stick players as well as internet-based radios. These are offered to members who meet the tight criteria set by BWBF.
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We provide a twice yearly informative newsletter which goes out to all of our members either in large print, on CDs, USB Sticks or via email. These newsletters contain a wide range of helpful information and guidance to our members.
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Across Suffolk we have fifteen district or social clubs, including a children’s group, meeting at least once a month for those of our members who are able to attend. These offer a good social setting around food and drink and more often than not some activity or entertainment. Occasionally there will be an outing and at Christmas time a special celebratory meal or party.
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Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Main activities and achievements for the period (continued)
- In Lowestoft and Felixstowe the local District Committees offer directly or in conjunction with other local organisers a range of activity groups for our members to participate in. This embraces Blind Bowls, Blind Shooting, New Age Curling, rambles, sailing and arts & crafts groups.
b. Management and staffing
Suffolk Sight employed sixteen part-time staff.
The day to day operations of Suffolk Sight are the responsibility of the Operations Manager, who is supported by the Administrator and Financial Controller.
There were seven Community Workers and one member of staff was employed as a Development Officer to coordinate the leisure and recreational activities taking place in Lowestoft and the immediate area. The charity also employed a Befriending Co-ordinator, Community Fundraiser, two Technology Advisors, a Low Vision Therapist, Social Club and Volunteer Liaison Officer and a Communications and Engagement Officer.
Volunteers
Volunteers are an essential part of Suffolk Sight’s overall operation. The charity is fortunate to be able to call upon over 200 volunteers across Suffolk to cover a wide range of duties. Volunteers support a number of our services and provide a wide range of practical help including administration support, befriending, and running monthly social and activity groups including outings and transport.
Financial review
We are very grateful to everyone who has contributed to us this year, with their time and financially, as is demonstrated by:
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a 9.5 % increase in donated income as compared to last year
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public support at events and through sponsored activities
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an increase in legacy income which included £41,355 in pecuniary legacies (2022 £136,712) and £591,991 in residuary legacies. This included title to agricultural land in Baylham, valued at £395,000 and the balance being Suffolk Sight’s share of the proceeds of a residuary legacy.
We continue to receive a small amount of grant funding for key services; Suffolk Sight Junior’s group, our Emotional Support and Technical Advice services.
The year has been full of activity with all our services in high demand and a welcome return to social group meetings and outings. Our charitable expenditure came to £311,970 (2022 £311,822) of which 76% covers our essential services; Community Workers, Technical Advisors, Volunteer and Befriending Team.
Our fundraising costs doubled due to increased legal fees related to property transactions from the administration of residuary legacies. This year’s costs were £22,068 compared to £9,301 in 2022. Overall expenditure for the year totalled £334,038 (2022 £321,123).
Suffolk Sight’s financial year to 31st March 2023 concluded with a surplus of £418,895 (2022 £258,593) as set out in the Statement of Financial Activities on page 10.
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Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
During the year the charity sold property and parcels of land received from residuary legacies which included land at East Bergholdt, sold for £45,000, and the Baylham Farmhouse for £250,000. The proceeds were invested in our funds held with CCLA.
The year-end funds of the charity total £1,754,744 (2022: £1,411,061). The unrestricted fund balance was £1,562,692 (2022: £1,383,588) of which £81,895 (2022: £74,315) comprises the balances held by our district club funds. The restricted fund balance was £192,052 (2022: £27,474).
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
a. Reserves policy
The Trustees are establishing Suffolk Sight’s strategy and sustainability plan and have set a reserves policy for the forthcoming year. The Trustees have given due consideration to the external environment and the performance of current operations and have set a policy which requires that reserves be maintained at a level to ensure continuity of Suffolk Sight’s core activities, and which recognises that the principal source of funding is from legacies, which by their very nature are unpredictable.
The Trustees aim to maintain free reserves in unrestricted accessible funds at a level which equates to a minimum of twelve months and a maximum of 18 months of unrestricted charitable expenditure and ensures that there are sufficient resources:
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To enable Suffolk Sight to continue to deliver its core activities in the event of a shortfall in voluntary and other income streams
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To meet short term cashflow requirements
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To provide funds to protect Suffolk Sight against unforeseen adverse circumstance
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The Trustees hold these reserves in a ready realisable form i.e. that can be easily converted into cash.
This policy is reviewed annually and levels of reserves are monitored and reviewed as part of the management accounts every two months. This gives the Trustees sufficient time to adjust to changing financial circumstances and to manage the levels of our liquid reserves. In the event of the Suffolk Sight being a recipient of a large bequest, the Trustees will undertake to review the activities of the Charity.
The accessible reserves held at 31st March 2023 were £453,245 which equates to 16 months of charitable expenditure based on current costs. This figure excludes the balances held by our regional clubs.
b. Investments policy
In accordance with the charity's constitution, the Trustees have the power to invest in such stocks, shares and investments as they see fit. The Trustees have delegated oversight of Suffolk Sight’s investment assets to the Finance Committee. The Finance Committee, which meets six times a year, report and make recommendations to the Trustees at Board meetings held every two months.
Suffolk Sight’s investment strategy is to generate a consistent and sustainable return, within an acceptable level of risk, to part fund annual expenditure and to deliver the investment objectives, which are in turn aligned with the Suffolk Sight’s short, medium and long-term strategic objectives.
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Suffolk Sight
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Suffolk Sight has been the recipient of the Baylham Trust which held land and a house in trust and was administered by trustees that had no link to Suffolk Sight and operated completely independently under the terms of the benefactor’s last will and testament. The freehold for the house was transferred to Suffolk Sight on 29th March 2022 and the freehold to the land was transferred on 11th August 2022. The house was sold during the financial year for £250,000 and the land has been recognised in these accounts at the fair market value of £395,000. The land has been let on an agricultural tenancy while the Trustees consider their options.
At the year-end £800,945 (2022 £531,290) was held within four COIF Charities Funds which are administered by CCLA and £415,000 was held in three freehold rental properties in Ipswich, £395,000 in the land at Baylham.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ G M Staff (Chair of Trustees)
Date:
Page 8
Suffolk Sight
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent examiner's report to the Trustees of Suffolk Sight ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England & Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 13/10/2023
Giles Kerkham FCA DChA
Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL
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Suffolk Sight
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Other income 7 Total income Expenditure on: Raising funds 8 Charitable activities 8 Total expenditure Net income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 462,139 34,276 3,474 42,867 692 543,448 22,068 268,263 290,331 253,117 (74,012) 179,105 1,383,587 179,105 1,562,692 |
Restricted funds 2023 £ 199,912 9,475 98 - - 209,485 - 43,707 43,707 165,778 (1,200) 164,578 27,474 164,578 192,052 |
Total funds 2023 £ 662,051 43,751 3,572 42,867 692 752,933 22,068 311,970 334,038 418,895 (75,212) 343,683 1,411,061 343,683 1,754,744 |
Total funds 2022 £ 476,033 54,996 1,085 40,532 7,070 579,716 |
|---|---|---|---|---|
| 9,301 311,822 321,123 |
||||
| 258,593 21,648 280,241 |
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| 1,130,820 280,241 1,411,061 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 33 form part of these financial statements.
Page 10
Suffolk Sight
BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible assets 13 Investments 15 Investment property 14 Current assets Stocks 16 Debtors 17 Cash at bank and in hand 18 Creditors: amounts falling due within one year 19 Net current assets Total net assets Charity funds Restricted funds 20 Unrestricted funds 20 Total funds |
6,925 43,399 105,553 155,877 (24,584) |
2023 £ 12,506 800,945 810,000 1,623,451 131,293 1,754,744 192,052 1,562,692 1,754,744 |
8,139 5,232 126,921 140,292 (31,727) |
2022 £ 11,206 531,290 760,000 |
|---|---|---|---|---|
| 1,302,496 108,565 |
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| 1,411,061 | ||||
| 27,474 1,383,587 |
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| 1,411,061 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
G M Staff
(Chair of Trustees)
Date:
The notes on pages 13 to 33 form part of these financial statements.
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Suffolk Sight
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Sale of investment properties Sale of tangible fixed assets Net cash (used in)/provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 13 to 33 form part of these financial statements |
2023 £ (15,989) (6,105) 115,000 (409,867) 295,000 593 (5,379) - (21,368) 126,921 105,553 |
2022 £ (22,532) (10,980) 110,000 (70,000) - - 29,020 - 6,488 120,433 126,921 |
|---|---|---|
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Suffolk Sight
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Suffolk Sight, registered charity number 1183608, is a public benefit entity established in the UK as a charitable incorporated organisation governed by its constitution dated 29th May 2019. Suffolk Sight is formed from the amalgamation of West Suffolk Sight CIO and East Suffolk Association for the Blind CIO and became active on 1st April 2020.
Suffolk Sight operates from its offices in Bury St. Edmunds and Ipswich and regionally throughout Suffolk. The Charity’s principal office is at the Disability Resource Centre, 4 Bunting Road, Bury St. Edmunds IP32 7BX.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Suffolk Sight meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
Taking account of the level of the charity's investments and expenditure commitments, the Trustees are of the opinion that Suffolk Sight is a going concern. The Trustees are of the view that Suffolk Sight will remain able to meet its commitments as they arise for a period of at least 12 months from the date of this report, and there are no material uncertainties in relation to Suffolk Sight’s ability to continue as a going concern.
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Suffolk Sight
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.3 Income
The Charity derives its income from donations, legacies, investments, rentals and other voluntary income and grants that provide core funding.
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised in the period to which it relates and liabilities are recognised in the period in which they arise.
Charitable Activities
Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its charitable services in line with the Charity’s objectives. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Raising Funds
Expenditure on raising funds includes the direct costs paid to our freelance fundraising consultant and the direct costs related to the management and repair of the three rental properties in Ipswich and the property in Baylham owned by the charity.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Underlying management fees for the common investment funds have been incurred and have been charged to those funds.
Governance costs
Governance costs are those costs associated with maintaining the governance of the charity as opposed to the management of the charity's activities.
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Suffolk Sight
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.4 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Listed investments are stated in the balance sheet at their market value, as at the balance sheet date.
2.6 Investment properties
Investment property is carried at fair value determined annually by independent surveyors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of financial activities.
2.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Office equipment - 20%
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.14 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Income from donations and legacies
| Unrestricted funds 2023 £ Donations 15,344 Legacies 444,720 Gift Aid 2,075 462,139 Unrestricted funds 2022 £ Donations 32,959 Legacies 436,712 Gift Aid 1,620 471,291 |
Restricted funds 2023 £ 2,776 196,991 145 199,912 Restricted funds 2022 £ 4,742 - - 4,742 |
Total funds 2023 £ 18,120 641,711 2,220 662,051 |
|---|---|---|
| Total funds 2022 £ 37,701 436,712 1,620 476,033 |
4. Income from charitable activities
| Unrestricted funds 2023 £ Grants - District Club 30,426 Other charitable income 3,850 34,276 |
Restricted funds 2023 £ 9,475 - - 9,475 |
Total funds 2023 £ 9,475 30,426 3,850 43,751 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Income from charitable activities (continued)
| Grants Covid Job Retention Scheme Grants District Club |
Unrestricted funds 2022 £ 3,100 16,128 10,926 30,154 |
Restricted funds 2022 £ 24,842 - - 24,842 |
Total funds 2022 £ 27,942 16,128 10,926 54,996 |
|---|---|---|---|
5. Income from other trading activities
Income from fundraising events
| Unrestricted funds 2023 £ Community fundraising 3,038 External fundraising 436 3,474 Community fundraising |
Restricted funds 2023 £ 98 - 98 Unrestricted funds 2022 £ 1,085 |
Total funds 2023 £ 3,136 436 3,572 |
|---|---|---|
| Total funds 2022 £ 1,085 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Investment income
| Unrestricted funds 2023 £ Rental income from investment properties 28,175 Investment income 14,692 42,867 Unrestricted funds 2022 £ Rental income from investment properties 26,246 Investment income 14,286 40,532 |
Total funds 2023 £ 28,175 14,692 42,867 |
|---|---|
| Total funds 2022 £ 26,246 14,286 40,532 |
7. Other incoming resources
| Sundry income Sundry income |
Unrestricted funds 2023 £ 692 Unrestricted funds 2022 £ 7,070 |
Total funds 2023 £ 692 |
|---|---|---|
| Total funds 2022 £ 7,070 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2023 £ Fundraising costs 18,367 Staff costs of raising voluntary income 3,701 22,068 Costs of raising voluntary income (continued) Unrestricted funds 2022 £ Fundraising costs 9,301 Analysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 £ £ Charitable activities 276,152 35,818 |
Total funds 2023 £ 18,367 3,701 22,068 |
|---|---|
| Total funds 2022 £ 9,301 |
|
| Total funds 2023 £ 311,970 |
9. Analysis of expenditure by activities
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Analysis of expenditure by activities (continued)
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Charitable activities | 272,482 | 39,340 | 311,822 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs for service delivery Depreciation Direct costs for service delivery Training Administration Communications Loss on disposal District Club expenditure Accountancy fees and payroll Occupational costs Legal and professional Digital expenditure |
Total funds 2023 £ 184,624 4,012 25,253 1,842 6,705 1,949 200 22,485 1,200 15,104 9,728 3,050 276,152 |
Total funds 2022 £ 186,708 2,996 25,193 1,635 4,300 3,646 923 11,255 2,066 16,408 9,775 7,577 272,482 |
|---|---|---|
Analysis of support costs
| Staff costs for administration and management Governance costs |
Total funds 2023 £ 29,919 5,899 35,818 |
Total funds 2022 £ 35,936 3,404 39,340 |
|---|---|---|
10. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £4,560 ( 2022 - £4,452 ).
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 206,488 6,347 5,409 218,244 |
2022 £ 210,419 6,510 5,715 |
|---|---|---|
| 222,644 |
The average number of persons employed by the Charity during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 16 | 17 |
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration (including employer national insurance and employer pension) to key management personnel in the year amounted to £67,672 (2022 - £71,530) .
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Tangible fixed assets
| Cost or valuation At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year On disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Office equipment £ 14,983 6,105 (1,027) 20,061 3,777 4,012 (234) 7,555 12,506 11,206 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Investment property
| Valuation At 1 April 2022 Additions Disposals Deficit on revaluation At 31 March 2023 |
Freehold investment property £ 760,000 395,000 (295,000) (50,000) 810,000 |
|---|---|
Additions reflect donated land at estimated market value. Other properties held at the year end reflect valuation at 31 March 2021 made by the trustees on the basis of informal advice from an independent registered chartered surveyor; the trustees consider that there has been no material movement in their market value between then and 31 March 2023.
15. Investments
| Valuation At 1 April 2022 Additions Disposals Revaluations At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
UK Listed investments £ 531,290 409,869 (115,000) (25,214) 800,945 800,945 531,290 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
16. Stocks
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Goods for resale | 6,925 | 8,139 |
17. Debtors
| Due within one year Other debtors Prepayments and accrued income Cash at bank and in hand Suffolk Sight Bank and Cash District Club Bank and Cash Creditors: Amounts falling due within one year VIP Mixed Club Other creditors Accruals and deferred income |
2023 £ 39,337 4,062 43,399 2023 £ 23,658 81,895 105,553 2023 £ 11,900 12,009 675 24,584 |
2022 £ 3,072 2,160 |
|---|---|---|
| 5,232 | ||
| 2022 £ 52,606 74,315 126,921 |
||
| 2022 £ 11,900 16,278 3,549 |
||
| 31,727 |
18. Cash at bank and in hand
19. Creditors: Amounts falling due within one year
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
20. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Insurance claim General funds General funds Beccles & Bungay Woodbridge Halesworth & Southwold Lowestoft Felixstowe Shotley Stowmarket Sudbury VIP Pakenham VIP Bury St Edmunds VIP Haverhill BAPS Mildenhall Brandon Hadleigh Optimists Total Unrestricted funds Restricted funds Aids equipment and magnifier East Suffolk community workers Community Support Suffolk Sight Juniors Telephone Service Outreach |
Balance at 1 April 2022 £ 6,034 1,302,768 4,372 12,418 8,038 8,625 19,521 7,582 5,240 1,374 1,032 470 2,131 395 1,338 2,249 1,377,553 1,383,587 10,949 446 3,000 6,234 6,845 - |
Income £ - 514,994 453 1,731 451 2,451 913 1,815 81 16,322 515 - 2,861 - - 861 543,448 543,448 3,862 - - 3,121 2,105 281 |
Expenditure £ (2,810) (264,699) (1,705) (1,636) (2,100) (4,243) (3,527) (3,105) (553) (1,631) (495) - (2,466) (360) - (1,001) (287,521) (290,331) (4,113) (446) (1,644) (4,113) (6,830) - |
Gains/ (Losses) £ - (74,012) - - - - - - - - - - - - - - (74,012) (74,012) - - - - - - |
Balance at 31 March 2023 £ 3,224 |
|---|---|---|---|---|---|
| 1,479,051 3,120 12,513 6,389 6,833 16,907 6,292 4,768 16,065 1,052 470 2,526 35 1,338 2,109 1,559,468 |
|||||
| 1,562,692 | |||||
| 10,698 - 1,356 5,242 2,120 281 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
20. Statement of funds (continued)
Statement of funds - current year (continued)
| Technical Advisers Walker Estate Total of funds |
Balance at 1 April 2022 £ - - 27,474 1,411,061 |
Income £ 3,125 196,991 209,485 752,933 |
Expenditure £ (672) (25,889) (43,707) (334,038) |
Gains/ (Losses) £ - (1,200) (1,200) (75,212) |
Balance at 31 March 2023 £ 2,453 169,902 192,052 |
|---|---|---|---|---|---|
| 1,754,744 |
These restricted funds are as follows:
Aids & Equipment - funds the provision of aids to members who are in need, assistive technology for our community workers and technical advisors.
East Suffolk Community Workers - funds the salary and/or expenses of community workers and volunteers in the east of the county.
Community Support - funds the salary and/or expenses of community workers and their support to the district clubs.
Suffolk Sight Juniors - funds equipment, facilities and activities for the Children's Group.
Telephone Service - funds the provision of one-to-one telephone counselling service to blind or partially sighted people.
Outreach - funds the 2023 Equipment day.
Technical advisors - funds our technical advice service.
Walker Estate - funds our services in the Felixstowe area
The Trustees have created a designated fund to carry forward income received from an insurance claim to cover the replacement of flood damaged equipment.
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
20. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Insurance claim General funds General funds Beccles & Bungay Woodbridge Halesworth & Southwold Lowestoft Felixstowe Shotley Stowmarket Sudbury VIP Pakenham VIP Clare Seekers Bury St Edmunds VIP Haverhill BAPS Mildenhall Brandon Hadleigh Optimists Total Unrestricted funds Restricted funds Aids equipment and magnifier |
Balance at 1 April 2021 £ - 1,045,003 4,468 11,498 6,522 9,132 20,244 6,971 5,240 1,323 1,026 1,696 478 2,307 395 1,338 2,376 1,120,017 1,120,017 Balance at 1 April 2021 £ 2,994 |
Income £ 6,034 533,172 592 1,390 1,733 2,026 612 1,964 - 470 289 - - 1,309 - - 541 544,098 550,132 Income £ 16,792 |
Expenditure £ - (297,055) (688) (470) (217) (2,533) (1,335) (1,353) - (419) (283) (1,696) (8) (1,485) - - (668) (308,210) (308,210) Expenditure £ (8,837) |
Gains/ (Losses) £ - 21,648 - - - - - - - - - - - - - - - 21,648 21,648 Gains/ (Losses) £ - |
Balance at 31 March 2022 £ 6,034 |
|---|---|---|---|---|---|
| 1,302,768 4,372 12,418 8,038 8,625 19,521 7,582 5,240 1,374 1,032 - 470 2,131 395 1,338 2,249 1,377,553 |
|||||
| 1,383,587 | |||||
| Balance at 31 March 2022 £ 10,949 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
20. Statement of funds (continued)
Statement of funds - prior year (continued)
| East Suffolk community workers Community Support Suffolk Sight Juniors Telephone Service Total of funds |
Balance at 1 April 2021 £ 1,378 3,000 3,431 - 10,803 1,130,820 |
Income £ - - 4,312 8,480 29,584 579,716 |
Expenditure £ (932) - (1,509) (1,635) (12,913) (321,123) |
Gains/ (Losses) £ - - - - - 21,648 |
Balance at 31 March 2022 £ 446 3,000 6,234 6,845 27,474 |
|---|---|---|---|---|---|
| 1,411,061 |
21. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 April 2022 £ 6,034 1,377,553 27,474 1,411,061 |
Income £ - 543,448 209,485 752,933 |
Expenditure £ (2,810) (287,521) (43,707) (334,038) |
Gains/ (Losses) £ - (74,012) (1,200) (75,212) |
Balance at 31 March 2023 £ 3,224 1,559,468 192,052 1,754,744 |
|---|---|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
21. Summary of funds (continued)
Summary of funds - prior year
| Designated funds General funds Restricted funds |
Balance at 1 April 2021 £ - 1,120,017 10,803 1,130,820 |
Income £ 6,034 544,098 29,584 579,716 |
Expenditure £ - (308,210) (12,913) (321,123) |
Gains/ (Losses) £ - 21,648 - 21,648 |
Balance at 31 March 2022 £ 6,034 1,377,553 27,474 1,411,061 |
|---|---|---|---|---|---|
22. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 12,506 Investment assets 800,945 Investment property 646,998 Current assets 126,827 Creditors due within one year (24,584) Total 1,562,692 Analysis of net assets between funds - prior year Unrestricted funds 2022 £ Tangible fixed assets 11,206 Investment assets 531,290 Investment property 760,000 Current assets 112,818 Creditors due within one year (31,727) Total 1,383,587 |
Restricted funds 2023 £ - - 163,002 29,050 - 192,052 Restricted funds 2022 £ - - - 27,474 - 27,474 |
Total funds 2023 £ 12,506 800,945 810,000 155,877 (24,584) 1,754,744 |
|---|---|---|
| Total funds 2022 £ 11,206 531,290 760,000 140,292 (31,727) 1,411,061 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
23. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Loss on the sale of fixed assets Decrease/ (Increase) in stocks Increase in debtors Increase/ (Decrease) in creditors Net fair value (gains)/losses recognised in SOFA Investment properties received through Legacies Net cash used in operating activities 24. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 25. Analysis of changes in net debt At 1 April 2022 £ Cash at bank and in hand 126,921 126,921 |
2023 £ 343,683 4,012 200 1,214 (38,167) (7,143) 75,212 (395,000) (15,989) 2023 £ 105,553 105,553 Cash flows £ (21,368) (21,368) |
2022 £ 280,241 2,996 923 7,211 (104) 7,851 (21,650) (300,000) (22,532) 2022 £ 126,921 126,921 At 31 March 2023 £ 105,553 105,553 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
26. Operating lease commitments
At 31 March 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2023 £ 7,668 - 7,668 |
2022 £ 10,744 308 |
|---|---|---|
| 11,052 |
27. Related party transactions
There were no related party transactions in the year. Last year the spouse of a trustee received remuneration for her work as a community worker during the first quarter of the year. £Nil (2022 - £4,274)
Page 33