2021-03-31-accounts

ISLE OF ELY SOCIEfY FOR THE BLIND TRUSTEE FIEPORT AND ACCOUNTS For the year ended 31" March 2021

ISLE OF ELYSOCIWFOR THE BLIND IRegisteredCh*lty No2013551 LEGALANDADMINLqTRATIVE INF051MATION Preshlent David Harrlson Idled if5epternber20221 Chairman Mrs5 Kear Bllnd&)d ￿sUallY Impalred membefs Mrss Tucker Mr D YOUDB others Cllr P Murphy Mis5 M Finnigan Idled 9 May 10221 Mr T Quintr (re$￿Thed 31° Ktsrch 20201 Mrj Orbell HOr￿rary treasure Mr F￿len- Idled Marth 20211 Mr G Smith lappointed 23 May 20221 Honorary ￿li¢￿01S rket Place March, C3tnbrid8e5hire PE15 9JQ Secretsry to the Executive CoMM￿le@ Mrsj Fisher March Town H811 Market Place rch. Cambridgeshlre PE15 9JF Banker5 Natwest Bank PLC 18 Broad Street March, Cambridgeshire PE15 8TN Lloyds B3nk PLC 24 High Street March, Cambridgeshl PE15 9JE

ISLE OF EL¥S￿Ely FORIHE BUNDIRe815kered Charfly No2013551 TrnSte￿ Reportlorthe ye3reded 31# March2021 The Trusteeshave pieasLsreln pr¥entin8 theirannual reporttogetherwiththeflnandal staments ofthe charityfo¥theyear ended al March 2021 Name Th￿15￿ ot Societyforthe Blind (The &)tlrfl. also known a5"Ferwision~ C0#5tiiuli0th4nd CJp£ts TheSc¢letys ConstitUt￿n vlas ¥doptÈd at aGeneral Meeting QD 2 M¥rth 1965 and was last amended on 12th DeceTnbEr 200S. Thetharitrf50bjects are to promote the general welfare of blind and partially ￿#￿ted personswho are Tesidentwithin FÈnland and whatwastheok4 county of the151e of Ety I'14eof EVI, priorto it amalEamated wlthin CambrtdEeshlre. Aim5 The3Imsolthe SoclÈtya¥etO k￿lde thÈ lollowl￿f8cl1ft1es Forthe ¥i5ually impaired.. o Sub5Klised outings as andwhen requlred o Monthly luncheon meetlllgs for Membe￿ at three centTes,' E￿, March & Wisbech o Arrange issue of rpdioltassette player5, talking newspa￿￿ and Brai1￿ liteTure Homevlsitsto new￿ regi51ered andexistlng members o liaise withother blind s¢¢lÈtiesand social servite5 o Arrange ¥olunt8ry helpto sbpport such attivlt*s Pr0￿ce at¥1 dL%trlbute a quarterly newsletter tape Orgonlsatlon rhe meml)er5fviplthE"Members"l ofthe So¢iety shall be opento all personghaving an interest in thewelfare of blina and partVal￿ 51ghted peopleand shall include bllnd partlally Sighted peO￿e IlwDgwi¢hin area OF Fenland arxl the Isle of Ely. and such persons as shall from time to time be co- opted bythe Societyto serve on the Executwe Committee, being persons hawlnga partkular interest in or knowledge of bllnd welfare. In adLlition, up io four repre5entstives from Local Distrirt and County Councils are a150 Members. All persoris making a donation tothe funds of The Society of I￿t ess ihan £50 shall be made life members. The Executlve Comftmttee, whoare alsotheTrustee5 of The S(Klety. meetsquarterwto ckal wlth drnlnlstrat￿e matters and detide upon the vatious artwities thatTheSOE￿(arr￿s1￿￿fQr￿ts

ISLE OF ELY SOCI￿ FORIHE BUND IReglstered ChathNo2013551 TrLtstee<llewrtfortheyear ended 31"March 2021 Irontln¥edl The Exetuti¥eCommittee shall consistofno k55 than fwe but no more than twenty ￿PT￿sent￿1￿S of the Ordinary and cTropted member¥ and repre5entati¥e5 of The Courtcils. Fr(xm the Members, thee￿cted Pre￿dent, HonoraryTreasurerand Honorarysolicitorare ex•ifi[jo mèmbers. Athi¥eiiiertand perforniance Theyear under review has been domlnated bythe Co¥id-19 pande¢nii andThe Soclety hosbeen nable ￿ carry Out most oFthe wrrnal supp0rtfuntt￿liS tothE Members. St hasknvAver cor)tinued to providethe qijartedy new51etter and dlstributed birthdavcards toihe Membe[5. The re5erve5 theyearend amounted to É590,098, whith havp increased overtk previ4)U5yewas a result of Ihe legacy from Lhe sale of land in Co8tes1£55,1471 and the Increase ￿ the value of the Investrnent PDrtfolio. There ts a wssibility of additional iDcome frotD the sale of land dueto an -ovÈrage" ckuse and ihis will be monitored on a ￿gUlar basls. TheTrustees lookto hold £60.OLY) minimvm in re5eTve4 if oriumstances allow. enablingre5UlllPtion and continuation of pre￿o￿S services forthe r￿xttwo to threeyeats. Investment pollty The iDve5bnÈnts. whlth are Te¥iewed at the qv3rtÈrlyexecutive£ornmittee meetings, wmprtse o 3 porrfolio of low risk unit trustsman3ged by StJarnes'5 Place Weallh Management.Thls h35 increased fmm £278,624 at 31 March 2020ta £340,071 at 31tt March 2021. TeFm dewsits Wlth Scottish Widows 8ank1£65.5211 and caMbr￿dEe and Counti Ban-31 days notice1£79.4451. Rls* ¥•Ses5meTht The Tru5tee5 res￿￿￿¥ re¥￿W thè nsks f3cin8The Society. The main risk niw bÈing is the13ck of guar8Ateed funding, which rnea￿ that TheSo¢ietymust nowrdyupon donation5, gr8nts and legacies as the main source of income. The ¢ontSnuance and womotion of The SocieV$ 8oodw¢rks will in itself minimise the r$k. Approved by the board ofTru5tees and ￿ened on its behalf. Mrs SKe?ne Chaim3n Mrs J Flsher tèry ltrh Ottobe¥ 2022

ISLE OF ELYSOCIETY FOA THE BUND(Re￿SEer￿tharIty No2013551 IndeppndertexamlnerfsTeporttothetrnstee5 of Isleaf Ely Swletyforthe Blind I reportto the tru#ees on rnyexaminationof the accountsof the151eof Ely SDtietyforthe Blith4 I'the SoctètylfoTthèyeareTHled 31° March 2021. ResponsIbll￿es and baof repurt As the charitytrusteesofthe Souetyyou are re5w>n$￿IQ foTthÈ preparation ofthe accounts in ateordaft￿ &￿t￿the requlrÈments of the CharltlesAtt 2011 (the Att'l. I report In respectof my examinatM)n of the >)cietysaccounts r&rried out vndef sertion 145olthe 2011 Art and Incarrylng out my ex3min3tion I followed all the applicatrAe Direcbonswven by thecharity Commission UTvJer 5ethon 14515llbl ofthe Act. IndepÈndentexamlnts ststement I have completed my examination. I confirrn that no material rnatters have cometo myattention in connecbon wilh the examination gwlnE me cawle to belle¥e that In any matertal respett.. l. accounting records were not kept In re5pert of theTw# as required by sertion I￿ of theAct,' or 2. the accounts do not accord wlththose record5,' or 3. the accounts do r￿t compfy withthe applicable ro4uiremÈnt5 conternin8 the form and content of 3ccounts set out the Charitles (Accounts and Rewrtsl Regulations 2008otherthafi any requirementth the acwunt5 give a'true èrKJ fa}rvie￿ which is not a matter considered 35 Partof èn independent examinK)n. I have concerns and have come acros5 rwJ other mattets in connection with the examSnatlonto whKh attentionsthuld be drawn Sn this report1n order to enable a proper uThderstandin8 of thE accouits to be rached. st8￿￿.. Address.. Countyftoad, Marth PEI58N8

ISLE ￿ELYsocIEfyFoA THE BUNOIRewsteredtrorlty No 2013551 smemeffl oFFIn￿da1 An1￿tle5fOrt￿yeTended 31° March 2021 Ili)te5 General Restricied Total 2021 2021 2021 Totsl 2020 Inwmlmg resources Irorn 8ertw¥¢etyfuwlg Donations & le8acie5 Inve5ttnent income ChariiBble xttvitie5 Total 55,537 55.537 1,166 56.073 1,713 Resources Expended Expend￿￿{￿On Raising fund5 Charitable acrivltles Governance costs Trustees, expenses Total 29,014 29,014 31,088 Netlncorne b￿orIN¥e$lMetti Gains11055esl Raluatlon of Investrnents Netlmcome Other Feco8lll5edt￿{1oS$es> Netmtrrfemntln funds 37.459 37,459 28.285 119 98.906 98,￿6 7,083 98.906 98.￿6 7,083 Rerontlll•tloA of Total funds broughtforw¥rd Total fundscairted fojward 491192 The noteson page5 7 to 9 ferm partofihesefinanc￿l 5tatemÈnts

ISLE OF ELYSOcI￿ FOR7HE BUNDIReKi5teredClwity No 2013551 8atan¢t Shet31° Maffh2021 Notes 2021 2020 Tangible assets InvestmÈnts 72 29QL71 27 340.143 278,988 CuThertAssets Stock Scottish Widow5 Bank Carnbridge & CourtR5 Bank Uoyds Bank NatWe5t Bank in h•nO io 903 go¥ Y4.326 78. 347 6,719 51,835 74,3 79,445 45.197 50,012 249,955 212.204 Credhovs-amoufitsfalllnE due thin orte year li Totslasset51e55￿rrÈnt 11a￿lItIeS Funds ofthe c￿lIty Restricted Unrestricted 491192 Thefinancial 5tatementswere approvedat the meeting of the Trustees hdd on I(￿ October2022 and the Treasurerw&s?uthori5ed to on thelr behalf. Godfrey knith-Tru5tee andtre35urer Date.. ltrhocteber2022 The r￿e$On pages 7 to9 lorm partofthe5e aitounts

ISiE OF ELYSCKIEIY FORIHE BUNDIReglstwed ChNo2013551 r4ote5totheFlnandal ￿e￿￿Trtsf0llbe¥ear ended 31"Mbr¢h2021 A¢¢0￿￿tIng pol￿{e5 The finarKlal staternents have been prepa¢d under the historical cost COnvert￿n as modified bythe inclusion of it1￿StmentS at markÈt value and In accordan￿WIth the Statement of Recommended Practice.-Accounting and ReportiDÈ bycharltles preparing the￿r accounts in èccoidance ¥viththe nancial Reportin8 stsndard appli¢abl• in the UK and Republicof Ireland IFRS 1021 issued on 16Julv 2014 and wlth the Charities Art 2011. Incomin8 r•souNe5 All Inc(xne is recognlsed Inthe xatementof flnano¥l acttvitles when condrtlons fr>f rÈteipt have boen met and there is reasonableassurance of reieipt. Where a daim forrepayment of inwmetax hasorwill be mède. wch incorne is Ero¥ed forthetsx recoverable. Donations and all other receiptsfrom fundraising are rewrted 8ross 3nd are 3¢¢oyffjed for ona recewable b3515. Le8aEiesare recorded when all Condit￿￿$ for their receipt have been met. This wll normallyb2 when thefinal estate8ccoullts have IRen aw)roved, the leEacyi5 capablp of meawremeni and tFEre Is norevÈrsionary Interest. Grants are re(￿nISed iThthe siatementof fin2ft¢lal actwitie5 whpn the ¢ondltionsf4x re￿Ipt ha¥e been met. In¥esttnent income 15acco￿ted forinthe per￿d in which the charity is entlved to receipt. Reswrcesexpended Expenditure Is included In the51atÈment of ftDanck41 attivitieson an accruals basts and ha5 allorated as detailed below.. C05t of generating fund5 indudes directCOSt Offundr8￿1ng activlties. Charitable acilwlt￿5 Include thecosts of the act1￿1￿$ defined by thE charirfsairn5 forthe bpnefitof the persQThS Sited in thecharityobjects. These include supportcosts (omprlsln8 the 5tafflngand a550Ciated cosi ol finance. personnel and 8eneral administiatkx in Supporting the oporational programrnts Forwhich the charity is rÈspon5ible. GoverDan¢e costs includethe costs which rekteto the general runnlng of thecharlty as upposed ￿ thedirect mana8ementfunctior Ink￿rent in8eneratin8 funds, seTvice delhlèry and pro£ramtne orproject work. Flxed Assets& riepre¢ithon Flxed as5et5 are included atCOSt. le5$3ccumukted depreciation. All assets ￿tir1E more than EJ(K) are tapltallsed. ikprec&4tion Is calculBted to wrI￿dOwn the c05t. less the e5tiThated residual value, of all taryible fixed assets over their useful lives. The ￿te5 eÈrteralW applicat4e 8re'. or￿e equipmentat 25% reducing balance ènd Alds at 15% reducing balance.

ISLE OFELY SOaEfY FOR THE 8LIND ¢R￿ttered CharltyNo2013551 14otestothe FInan￿al Statemetsfor ihevearended31 Match 2011ci¥rtlnLd IAttousttlng polkles Icontlnuedl Flxed asset IMiestsnent$ Investments are induded atclosinB mid-market Value atthe balance sheet date. Anygain or1055 on revalu8tion istskento thestètement of financi2lActwitles. Stock Stocks arevaluedatthe I¢m￿rOf costand net realisable Value. Restri¢t¢d Funds Restricted funds ran onlybe used for speufic wrpose5Wlthln theobiettsof thecharity. Rest[￿t￿n$ arise wheo specifed bythe donororwhen fvnd5 raised for particular rostricted pvrpD5e5. Expenditure which complieswith th¥e criteria is idEntrfied to the fund. ilrrntricted lund% Unre5tridÉd funds are donation5 and other incomes recewed or generated forthe obiectsofthe charitywithoutfurtherspedfied purp05edand areayallable asgeneral fund5. 2.Yru51ee5 remunwatfon and exppn5es No memberof the rnan38ementcommlttee received any remuneratlon eitherdirectlyor lthdirealy. Notyustee received reirnbursèmentof their costs. 3.Tntsiee Indemnlty In5uran¢e No irbSurarTr￿ ha5been purthasedto indervDrfythernan38ement cornmtttet a8aiTrSt defaulton their part. 4. IncominK resou￿e$ The Ihèrityrecel¥ed £55,14712020-£ 55,6501 frorn a legacy and £39)12020- £4231 frorD donations. AmouThtsreceived from charitsble acti¥ilie5 included £9.46912020- nill fromthe UK Government 5 the form of"Furlough" payrnents provided durlrethe Covld-19 epldemictosupport contlnuEd empk)yment of the workforie. 5. Resources Expended Included undercharitable attwifies a￿.. The charliy employsthe eQu￿Valentof one full time per50n12020- one) and the salaries amounted to £20.54712020-£21,4181 anLI sooal sÈturity costgof £nil12020 £nill. No employee recelved ernployee benefir5forthe iurrent or prior yearof more than £60,O)0, Reni and maintenance £5.40012020-É4,2(N)I. Depreck4tion £7212020- £3371. & c￿trollIn8party The charTtV i5controlled byihetrusLees. No one irustee oranygroupof tr￿lee5 has (ontr¢l. 7. Related party iraThsactiO The￿ were nonedunng the osrrent or previousyear.