DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
Registered number: 00482010 Charity number: 201640
CAMSIGHT
(A company limited by guarantee)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
(Formally known as The Cambridgeshire Society for The Blind and Partially Sighted)
DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) CONTENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Trustees' report including reference and administrative details of | 1 |
| the charity, its trustees and advisers | |
| Independent auditor's report | 11 |
| Statement of financial activities | 14 |
| Balance sheet | 15 |
| Cash flow statement | 16 |
| Notes to the financial statements | 17 |
DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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Charity number 482010
Company number 00201640
Registered office
167 Green End Road Cambridge CB4 1RW
1. Report of the trustees for the year ending 31 March 2023
The trustees are pleased to present their annual directors’ report together with the consolidated financial statements of the charity for the year ending 31 March 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 2015).
2. Objectives and activities
2.1. Overview of low vision and blindness
Every day 250 people start to lose their sight. According to the RNIB, two million people in the UK live with low vision and blindness that has significant impact on their daily lives. By 2050, this is estimated to double to four million people. In Cambridgeshire, 21,200 people live with low vision and blindness – approximately 3% of the population. Of this total, 18,320 live with some degree of low vision and 2,810 live with blindness. This is anticipated to rise to 27,900 by 2030.
Low vision and blindness can have a profound impact on all aspects of life. It can cause a decline in confidence and, consequently, independence. The RNIB found that 40% of people living with low vision and blindness feel cut off from the people and things around them. Many struggle to secure or stay in employment, with three out of four unemployed nationally. A 2015 study found that half of their participants need help with daily activities, such as shopping, cooking, housekeeping, and handling finances.
The experience of sight loss can also cause emotional distress, which can lead to depression. Studies of people living with different eye conditions have consistently found that two of five participants live with depression. The RNIB also found that half of people felt they were limited in the activities they would like to participate in. National data indicates that only 8% of adults with low vision and blindness play as much sport as they would like. Consequently, this can result in a decline in mental and physical health.
Combined, all of this often leads to people feeling cut off from their communities, becoming lonely and socially isolated. Six out of ten living with low vision and blindness report that they do not feel engaged with their communities and want to go out less often. People often end up isolated in their homes, afraid to go out, with declining health. These are the issues Cam Sight seeks to address.
Our beneficiaries are blind and partially sighted residents of Cambridgeshire and Peterborough.
Their sight loss may have occurred suddenly as a result of an illness or accident, they may have been born with a sight impairment or they may have experienced a deterioration of their sight with age.
As the incidence of visual impairment increases with age, most (75%) of our service users are over 65, and many have additional age-related health conditions including poor mobility, hearing impairments and dementia. We also support working-age adults, and children who may experience congenital or life-limiting conditions.
Our service users are distributed across the whole of Cambridgeshire and Peterborough, and so include residents of densely populated urban areas as well as rural communities.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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Our service users are often on low incomes including pensions, disability or unemployment benefits, and so may experience financial hardship.
In summary, as a result of their sight loss, our service users face a loss of independence, isolation and loneliness; deteriorating physical and emotional health, and barriers to accessing services as they often find it difficult to travel on public transport.
Our charitable aims as set out in our governing document, are to promote the general welfare of blind and partially sighted people in the Cambridgeshire and Peterborough Combined Authority area, and surrounding areas – in particular, to help our beneficiaries to maintain their independence and improve their quality of life.
Our published vision and mission also seek to address these factors:
Our vision is for a world of equality, in which people of all ages who are blind or have low vision, achieve the possibilities they choose in life.
Our mission is to support visually impaired people of all ages to live the lives they choose. We work to enhance independence and improve wellbeing and social inclusion.
The emphasis on personal choice is really important to us. We endeavor to support our service users to do the things they want to do, and to achieve the goals they personally choose to aspire to. For some, this may mean supporting them to become part of the visually impaired community, either through CamSight or through other local or national networks. For others, this may mean supporting them to participate in the wider sighted community, either re-joining activities and groups they enjoyed pre-sight loss or completely new ones, including volunteering, education, training and employment opportunities.
CamSight is an important part of the referral pathway for visually impaired people in Cambridgeshire and Peterborough. In recognition of this, we are commissioned by Cambridgeshire and Peterborough County Councils to deliver a range of sensory services across these regions.
The typical route through sight-loss services starts with early identification by primary healthcare services such as a GP or optician, then to an eye clinic for diagnosis, treatment and an official registration of sight impairment. Once registered blind or partially sighted, the individual is referred to social care – specifically the Sensory Services team, who provide initial rehabilitation services including mobility training. Sensory Services will then refer service users on to us for more long-term and all-round support. In turn, if a service user’s needs change, we may refer them back to Sensory Services for additional support.
Under our County Council Contract for Cambridgeshire, we are contracted to provide a sight-loss service across the whole of Cambridgeshire including Huntingdon. In practice, we achieve this by sub-contracting services in this area to our partners Hunts Society for the Blind, under terms that match our contract with the Council.
Since April 2022, we have also held the County Council Contract for Peterborough.
2.2. Our vision, mission, aims, and values
Our vision is a world of equality, in which people of all ages who are blind or have low vision achieve the possibilities they choose in life.
Our mission is to support local people of all ages living with blindness and low vision in Cambridgeshire to live the lives they choose.
We aim to enhance independence, improve wellbeing, and increase inclusion in the local community.
In fulfilling these aims, we aim to uphold the following values in all that we do: person-centred; empowering; friendly; collaborative; and accountable.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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2.3. Overview of activities
CamSight was founded in 1912 and has worked for over 100 years to improve the lives of people of all ages with low vision and blindness in Cambridgeshire. We operate in Cambridge City; South Cambridgeshire; East Cambridgeshire; Fenland and now Peterborough.
We offer a range of services, groups and activities in order to meet our service users practical, social and emotional needs. We believe that each of these supports us to achieve the outcomes stated above:
One-to-One Support
Information and Advice
We provide information, advice and relevant links on our website, and operate a telephone helpline between 9am to 4pm on weekdays, enabling service users to access signposting, referrals and information on a range of topics including eye health, welfare benefits, NHS partners and other local services.
Casework Support
All service users who need one-to-one support are allocated a caseworker, who will conduct a holistic, needs-based assessment and put together a support plan tailored to each service user’s individual situation.
Whilst a majority of casework involves support to access welfare benefits or concessions (such as blue badge applications, discounted TV licences and bus passes), we do offer support in other cases where we are the best service to provide the support, or we refer to other specialist services or partner with them as appropriate.
Advocacy
We provide advocacy on behalf of individual service users with other organisations to ensure they receive a quality service that is accessible to their particular needs. This may include getting bills sent in large font, prescriptions and medical appointments sent by text through to ensuring that housing is totally suitable for someone with a visual impairment.
We also promote the views of visually impaired people to ensure accessibility in public transport systems.
Low Vision Aids, Equipment and Technology
We carry out assessments and demonstrations of low vision aids, equipment and assistive technology – including magnification, lighting, kitchen and home equipment, communication and mobility aids. We support service users to purchase appropriate equipment and in cases of financial hardship can loan or gift equipment, or support them to access grants. In this way, we ensure that all who need them are able to access relevant items to help them stay independent at home for as long as possible, to get out and about, and to continue to pursue their hobbies and interests.
Emotional Support
We have a team of two qualified counsellors who provide ad-hoc emotional support and formal counselling to service users who are struggling with their mental health, perhaps because they are struggling to adjust to their sight loss. Their support is free, not time limited, and can be delivered virtually, at service user’s homes or at our offices.
We also refer service users to statutory mental health services and provide information and signposting to crisis support outside of our opening hours.
Befriending
Our local volunteer befrienders provide a range of support to service users including home visits, regular telephone calls, reading, participation in hobbies and sports, outings, shopping and driving. This is a totally bespoke service, with each befriender selected from our pool of over 200 volunteers and matched to an individual service user based on their location, personal interests, age and availability.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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Peer Support Groups
We hold monthly peer support groups at various locations throughout Cambridgeshire and Peterborough – in community centres, church halls, care homes and other community settings. These are delivered by Outreach Workers and volunteers and allow service users to socialise and meet others, access information and have demonstrations of low vision equipment. We provide light refreshments and entertainment and arrange transport for those in need (volunteer or staff drivers or community transport schemes). These social groups help reduce isolation, improve inclusion and wellbeing, and give staff an opportunity to triage any additional needs.
Sports and Leisure
We deliver a range of sports and leisure activities, outings and trips for visually impaired people. Current regular activities include Pilates, chair-based exercises, games and puzzles club, walking groups, dining club and museum touch tours. We also hold one-off workshops, trips and outings. Recently these have included garden centre visits, a day trip to Kew Gardens and a cream tea event held in Ely. These activities have been introduced in response to requests from service users and are staff and/or volunteer led. We have found that they help our service users reduce isolation and improve their health and wellbeing.
Volunteering Opportunities
We have a pool of over 200 volunteers, many of whom are also service users. They support CamSight with a range of activities including fundraising, giving talks at schools or community groups, administration, and befriending. We also have social groups led by our volunteers, with minimal support from staff e.g. a knitting club and a coffee and chat group.
3. Achievements and performance
3.1. Service Support
At the end of March 2023, 2147 visually impaired people were registered on our beneficiary databases: 2,067 in Cambridgeshire and 80 in Peterborough. We expect this number to grow, especially in Peterborough as we expand our reach in that area.
3.2. Enhancing independence
3.2.1. Low Vision and Blindness Centres (LVBCs): We were pleased to reopen our Centres in Cambridge and Wisbech after they were closed during the Pandemic; we supported 120 people during the year.
3.2.2. Community support: We supported 390 people (with 650 cases) with low vision and blindness countywide.
3.2.3. Mobile Equipment Service: 186 people (with 225 cases) received technology and equipment support via our Mobile Equipment Service, either at home or during their attendance at one of our peer support groups. Try before you buy equipment has been used to overcome concerns about technology.
3.3. Improving wellbeing
3.3.1. Emotional support: 53 people received one-to-one emotional support from our two counsellors.
3.3.2. Sports: During the year we delivered a range of activities including pilates classes, chair-based exercise, lawn bowls and walking groups. In total 55 individuals engaged in sporting activities during the year.
3.4. Increasing inclusion
3.4.1. Peer support groups: During the year, 305 clients attended our monthly peer support groups at 18 locations across the County.
3.4.2. Volunteering: CamSight is fortunate to have had up to 220 volunteers supporting the charity with activities including befriending, running sports activities, driving clients to peer support groups and fundraising. Across the year, volunteers contributed a total of 8,758 hours, which saved the charity £95,462 if they were paid the real living wage.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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3.5. Fundraising
We are pleased to have generated £500,853 this year.
We received legacies totalling £84,905 (2022 £13,398), including an unexpected legacy of £75,000 for which we are very grateful for.
A breakdown of our income can be seen below:
| Legacies | £84,905 |
|---|---|
| General Donations | £76,807 |
| Friends | £1,203 |
| Collections | £2,114 |
| The Enabling Activities Trust | £47,000 |
| Cambridgeshire County Council | £122,400 |
| Peterborough City Council | £9,725 |
| Motability | £51,254 |
| Other donations & grants | £52,861 |
| Other fundraising | £26,568 |
| Investment income | £26,016 |
4. Future plans
Over the last financial year, CamSight has embarked on a period of organisational change, consolidation and development. We are an old charity that has evolved organically over many years. In recent years we have been impacted by the covid pandemic and the economic climate, seeing changes in service user needs, some income streams drying up, changes to working patterns, staff retention concerns, and an increased cost base.
In order to continue to meet our service users’ needs effectively in such circumstances, we recognised that we needed to change and therefore, a new three-year strategy has been implemented in early 2023. Our areas of focus included:
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Improve efficiency and effectiveness of service delivery.
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Improve operational efficiency and manage costs.
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Stabilise and diversify our income stream.
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Strengthen leadership.
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Improve employee recruitment and retention.
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Financial risk management and mitigation.
Key activities included:
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A restructure of staffing and services – phased over two years.
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An increase in service delivery in Peterborough (where we have been delivering services since the start of April 2022 when we secured the Council contract), including opening another peer support group (starting from January 2024).
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Change of charitable structure from a charity to a CIO.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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Employability – Conduct research project, liaising with current employment services to establish future development needs.
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Emotional Support – Explore need for in-person peer support groups and reinstate in line with demand
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Implementation of the volunteer strategy, with particular focus on recruiting volunteer drivers for the Motability Project.
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Creation of a Finance Committee, to monitor and mitigate financial risks.
Organisationally, we have already started the re-structuring of our staffing team, including the creation of a Senior Leadership Team, and this will continue over the next two financial years.
5. Financial review
Traditionally, CamSight has relied on legacy income supported by a relatively low level of community fundraising, a small County Council contract and some small trusts and foundations income generated by an external fundraiser. The last three sources did not meet our operating costs, so we maintained relatively high levels of reserves in order to smooth out the deficit budget in between sporadic and unpredictable legacy receipts.
In recent years levels of legacy income have reduced significantly and it is no longer appropriate to use reserves to fund operations whilst waiting for the next big legacy to arrive. Similarly, community fundraising has become harder.
As a result, CamSight operated at a significant deficit over the last financial year.
We have taken the decision to change our funding model to generate year on year stability, and longer-term sustainability. These changes are reflected in the new three-year strategy. Steps taken have included:
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Recruiting a Head of Fundraising & Engagement, with skills in Trusts and Foundations and Statutory income generation.
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Bringing trusts and foundations applications in-house.
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Advertising for a Corporate Fundraiser to secure and manage our business partnerships.
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Not including legacy income within our fundraising budget.
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Seeking multi-year funding from statutory sources and large trusts and foundations, and using this to protect our frontline service delivery costs with a contribution to overheads.
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Using less stable income sources such as legacy and community fundraising to cover core costs, underpinned by our reserves.
The charity showed a deficit of £211,870 (2022 £270,122). Restricted funds decreased from £326,215 to £200,792 on 31 March 2023. Overall funds decreased from £1,564,414 to £1,352,544 on 31 March 2023.
5.1. Investment power and policy
Investments are managed by Brown Shipley (formerly known as NW Brown Investment Management Services).
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 appointed Brown Shipley to manage some of the funds not required for the immediate purpose of the charity, amounting to £994,547 (31 March 2022 £1,247,730).
In 2019, the trustees conducted a review of the portfolio’s risk approach, with the support of Brown Shipley. The review involved each trustee individually assessing the levels of risk they felt appropriate to take on with the investment portfolio, alongside the charity’s other investment in bonds, cash, and fixed assets. These responses were amalgamated into a joint risk strategy. It was therefore agreed that the funds held with Brown Shipley would be considered to be part of a long-term sustainability strategy for the charity and therefore could benefit from a moderate risk approach, which would see increased return. The risk category was therefore increased by one category, which resulted in slightly more investment in equity as opposed to fixed return assets. Brown Shipley advised this was still a conservative approach and did not open the funds or the charity to undue risk.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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5.2. Reserves policy
The policy of the board of trustees is that the unrestricted reserves of the charity should be between six and twentyfour months of operational costs. On 31 March 2023, CamSight’s free reserves was £3,380 (31 March 2022 -£10,174). However, funds worth of £250,000 was withdrawn from the investments allowing for the expected mix of unrestricted and restricted projects.
6. Reference and administrative details
6.1. Our advisers
6.1.1. Auditors
Chater Allan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU
6.1.2. Bankers
Lloyds TSB PLC PO Box 383 Cambridge CB3 0NZ
6.1.3. Investment Advisors and Bankers
Brown Shipley Richmond House 16-20 Regent Street Cambridge CB2 1DB
6.2. Directors and trustees
The Trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the audited financial statements of CamSight (the company) for the year ended 31 March 2023. The Trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005.
6.3. Key management personnel CamSight
6.3.1. Directors and Trustees
Mr N Redmayne, Chair (appointed October 2022) Mr R Newbery (Vice-Chair) Mr D Taylor (Treasurer) Mrs L Fairbrother Mr J Harvey Stewart Prof K Latham (appointed June 2023) Mr S Rock Ms V Shilling * Mr R Slattery * (resigned October 2022)
- Trustees with a visual impairment
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We were delighted to welcome Professor Kez Latham to the board in June 2023. Prof Latham is Professor of Optometry at Anglia Ruskin University (ARU) in Cambridge, where she runs the Low Vision Service within the University Eye Clinic and teaches the assessment and management of people with visual impairments to undergraduate optometry and dispensing optician students. She has worked in partnership with CamSight for over 15 years.
6.3.2. Company Secretar y
Mr A Moore (resigned 17.11.23)
6.3.3. Chief Executive Officer
Mr A Moore (resigned 17.11.23)
6.3.4. Patrons
Dame Mary Archer and Nigel Brown OBE (who sadly passed away January 2023)
6.3.5. Obiturary
Nigel Brown OBE was for many years a supporter and Patron of CamSight. He sadly passed away on 19 January 2023, aged 77. Nigel was founder and chairman of NW Brown Group (now Brown Shipley). He was a very successful businessman and entrepreneur and was involved in many charitable activities, both locally and nationally. These included the Stradivari Trust, IQ Capital, Anglia Ruskin University, The University of Cambridge, Hughes Hall, Saffron Hall Trust, Cambridge Arts Theatre and Cambridge Citizens Advice Bureau. He won the Queen’s Award for Enterprise Promotion in 2007 and was awarded an OBE in 2008. He was also, for a time, a High Sheriff of Cambridgeshire. He will be sadly missed.
7. Structure, governance, and management
7.1. Governing document
CamSight’s governing document – the Memorandum and Articles of Association – sets out the objects for the Society. In 2018, the Articles were updated, with the pro bono support of Dechert LLP, to reflect the Charity Commission’s best practice model. These changes were adopted by the board at the October 2018 annual general meeting.
CamSight’s objects cover a range of activities aimed at promoting ‘the general welfare of people who are blind or partially sighted in the region of the Cambridgeshire and Peterborough Combined Authority and surrounding areas.’ The objects cover, amongst other provisions the use of CamSight’s premises, the types of services offered by the charity and its relationship with other organisations.
Within the parameters set by the governing document, CamSight provides public benefit by supporting people living with low vision and blindness in maintaining independence and quality of life. In the exercise of its powers to that end, CamSight has paid due regard to the published guidance from the Charity Commission on the operation of the Public Benefit requirement under the Charities Act 2006.
7.2. Trustee selection, induction and training
New Trustees are currently appointed on the basis of recommendation and application. Induction is carried out by the Chair and CEO. A Trustee handbook provides information about CamSight and the roles and responsibilities of its Trustees. Each new trustee meets one-on-one with the Chair and with the CEO to gain a deeper understanding of the charity, its strategy, and its operations. The trustee is also introduced to the staff team and invited to visit key services. Ongoing training is currently being implemented.
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7.3. Structure and decision making
CamSight’s strategic direction is led by its Board of Trustees which meets quarterly. Implementation of the strategy and management of the organisation is the responsibility of the Chief Executive. A new three-year strategy was implemented in January 2023, and this involved a reorganisation of the existing infrastructure. As a result of the reshuffle, a Senior Leadership Team (SLT) has now been established, with appointments made through internal promotions. The SLT comprises the CEO and:
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Operations Manager
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Head of Fundraising and Engagement
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Head of Services
The two “Heads of” roles will focus on leadership and strategic direction.
Individual staff work plans and targets are agreed at regular performance reviews; departmental objectives are set by the Senior Leadership Team and managers, and staff meetings address issues that affect the whole team. The Chair and CEO meet regularly to share information and consider important issues arising between Board meetings.
7.4. Related parties and co-operation with other organisations
CamSight recognises the value of co-operation, collaboration, and partnership with other organisations to improve the lives of local people living with low vision and blindness. Locally, we sit on the Healthwatch Cambridgeshire Partnership Boards for: Older People and; Physical Disability and Sensory Impairment. We are also members of the Cambridgeshire Health and Wellbeing Network; the Cambridge Council for Voluntary Service; and the Greater Cambridge Partnership. This allows us to stay abreast of local developments, contribute to discussions and consultations, and network with relevant companies, agencies, and charities.
CamSight is also active in local and national networks focused on low vision and blindness. We are a member of the Cambridgeshire Local Eye Health Network, which works on implementing the England Vision Strategy locally. We are also a member of Visionary, a national membership organisation for local sight charities which represents our views in the national arena. We work closely with other local sensory charities and Sensory Services to deliver a joined up service for local people.
CamSight also works closely with the public sector, particularly Addenbrooke’s Hospital, Cambridgeshire County Council, Peterborough County Council, City and District Councils, and with other partners, including Anglia Ruskin University and local businesses.
7.5. Risk management
On an annual basis, a designated trustee and the Chief Executive analyse the governance and management; operational; financial; facilities; health and safety; and human resources risks facing the charity. These risks are ranked in terms of severity and likelihood, and mitigation and reduction strategies are identified in an action plan. Each action has an allotted trustee or staff member responsible for mitigating the risk and a time deadline.
The risk assessment reviews and actions plans are presented to the whole Board for review and approval. The designated risk trustee and the Chief Executive then meet halfway through the year to review the risks and mitigation strategies, monitor progress on the action plan and its deadlines, and make adjustments in review of outcomes. If the ranking of any risks is increased, it is reported to the Board at the subsequent Board meeting.
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CAMSIGHT (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
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8. Trustees’ responsibilities in relation to the financial statements
The charity trustees (who are also the directors of CamSight for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the 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 in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
8.1. Statement as to disclosure to our auditors
In so far as the trustees are aware at the time of approving our trustees’ annual report:
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there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the company’s auditor is unaware, and
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the trustees, having made enquiries of fellow directors and the company’s auditor that they ought to have individually made, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
By order of the Board of Trustees.
……………………………………………………
N Redmayne (Chair of Trustees)
Date: 7 December 2023
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2023
We have audited the financial statements of CamSight (the charitable company) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, (which also comprises the Summary Income and Expenditure Account), the Balance Sheets, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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●have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
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●have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees' annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2023
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
●the Trustees’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
the Trustees’ Report has been prepared in accordance with applicable legal requirements.
-
● adequate accounting records have not been kept, or returns adequate for our audit have not been received from ● the company financial statements are not in agreement with the accounting records and returns; or ●certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanation we require for our audit; or
-
the trustees were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2023
Auditor’s responsibilities for the audit of the financial statements (continued)
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the annual financial statements from our general commercial and charitable company specific experience, through discussion with the Trustees (as required by auditing standards), and from inspection of the charitable company's regulatory correspondence, and we discussed with the Trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indication to non-compliance throughout the audit; the audit team are deemed both competent and capable of identifying non-compliance with rules and regulations.
The potential effect of these laws and regulations on the annual financial statements varies considerably. Firstly, the charitable company is subject to laws and regulations that directly affect the annual financial statements including financial reporting legislation and taxation legislation, and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related annual account items. Secondly, the charitable company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance non-compliance with industry regulations. We assessed the risk of fraud in the financial statements through discussion with management and from our experience of the charitable company. We communicated identified fraud risk areas throughout our team and remained alert to any indication of fraud throughout the audit. In particular, we assessed the potential impact of the global pandemic known as Covid-19 on the risk of fraud. We did not identify any instances of fraud during the course of our audit.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of any actual or suspected non-compliance with laws and regulations. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.
This report is made solely to CamSight as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Naomi Hedger (Senior Statutory Auditor) For and on behalf of Chater Allan LLP Chartered Accountants & Statutory Auditors Unit 7 Quy Court Stow-cum-Quy Cambridge CB25 9AU 22 December 2023
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income/(expenditure) before transfers Transfers between funds 17 Net movement in funds Reconciliation of movement in funds: Total funds brought forward Total funds carried forward Net realised and unrealised gains/(losses) on investments Net Income/(expenditure) before investment gains/losses |
Restricted Unrestricted Total Total funds funds funds funds 2023 2023 2023 2022 £ £ £ £ 1,138 163,891 165,029 103,971 229,171 77,526 306,697 248,594 - 3,111 3,111 3,392 - 26,016 26,016 18,140 230,309 270,544 500,853 374,097 - 27,237 27,237 57,919 355,732 305,885 661,617 600,133 355,732 333,122 688,854 658,052 (125,423) (62,578) (188,001) (283,955) - (23,869) (23,869) 13,833 (125,423) (86,447) (211,870) (270,122) - - - - (125,423) (86,447) (211,870) (270,122) 326,215 1,238,199 1,564,414 1,834,536 200,792 1,151,752 1,352,544 1,564,414 |
|---|---|
All activities relate to continuing operations.
The notes on pages 17 to 29 form part of these financial statements.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
Registered number: 00482010
CAMSIGHT (A company limited by guarantee) BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible assets 12 Investments 13 Current assets Stocks Debtors 14 Investments 15 Cash at bank and in hand Liabilities Creditors: amounts falling due 16 within one year Net current assets Net assets Charity funds Restricted funds 17 Unrestricted funds 17 |
Total Total 2023 2022 £ £ 208,379 233,408 994,547 1,247,730 1,202,926 1,481,138 - 856 101,396 21,133 47,058 30,010 18,245 50,111 166,699 102,110 17,081 18,834 149,618 83,276 1,352,544 1,564,414 200,792 326,215 1,151,752 1,238,199 1,352,544 1,564,414 |
|---|---|
The financial statements were approved by the Trustees on 7 December 2023 and signed on their behalf by:
…………………………………………………… ……………………………………………………
N Redmayne (Chair of Trustees) D Taylor (Trustee - Treasurer)
The notes on pages 17 to 29 form part of these financial statements.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023
| Total 2023 £ Cash flows from operating activities: Net cash provided by operating activities (272,648) Cash flows from investing activities: Interest from investments 26,016 Increase in investments 236,129 Purchase of property, plant and equipment (4,315) Net cash provided by investing activities 257,830 (14,818) 80,121 65,303 Cash at bank and in hand 18,245 Investments 47,058 65,303 Reconciliation of net income/(expenditure) to net cash flow from operating activities Net income/(expenditure) for the reporting period (211,870) Adjustments for: Depreciation charges 29,343 Losses/(gains) on investments 17,054 Interest from investments (26,016) Derease/(increase) in stock 856 (Increase)/decrease in debtors (80,263) Increase/(decrease) in creditors (1,752) Net cash provided by operating activities (272,648) Summary of the cash and cash equivalents at the end of the reporting period Cash and cash equivalents at the end of the reporting period Cash and cash equivalents at the beginning of the reporting period Change in cash and cash equivalents in the reporting period |
Total 2022 £ |
|---|---|
| (282,640) | |
| 18,140 (17,159) (44,067) |
|
| (43,086) | |
| (325,726) | |
| 405,847 | |
| 80,121 | |
| 50,111 30,010 |
|
| 80,121 | |
| (270,122) 23,237 (10,345) (18,140) 3,590 (11,211) 351 |
|
| (282,640) |
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) (2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),the Companies Act 2006, and UK Generally Accepted Accounting Practice.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
CamSight meets the definition of a public benefit entity under FRS 102.
1.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 10. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.3 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 company 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 company 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.
1.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part. is only considered probable when the amount can be measured reliably and the company has been notified of the executors intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1.4 Income (continued)
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Contract income included in the financial statements is treated as grant income based on the nature of the underlying agreement between the parties and is therefore recognised in full at the date of entitlement to the income.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounting for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Support costs are allocated, where possible, to specific activities, where this is not possible costs are spread evenly over all activities.
All resources expended are inclusive of irrecoverable VAT.
1.6 Going concern
The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The trustees have considered the potential impact on the company of the current global pandemic known as COVID-19. In the opinion of the trustees there will be no material adverse effect on the company's ability to continue as a going concern. The trustees believe the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
1.7 Tangible fixed assets and depreciation
All assets costing more than £250 are capitalised. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property 2% on cost Leasehold improvements Over the remaining term of the lease Fixtures & fittings 15% on the reducing balance Office equipment 25% on cost
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
1.9 Gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised gains and losses are combined in the Statement of Financial Activities.
1.10 Short term investments
Short term investments is cash on deposit with a maturity date of less than one year which is being held for investment purposes rather than to meet short term cash commitments as they full due.
1.11 Operating leases
Rentals under operating leases are charged to the Statement of Financial Activities incorporating income and expenditure account on a straight line basis over the lease term.
1.12 Stocks
Purchased equipment stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.13 Financial instruments
The company 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.
1.14 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.
1.15 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.
1.16 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES (CONTINUED)
1.17 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 company 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. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pretax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2023 | 2023 | 2023 | 2022 | |
| 2. INCOME FROM DONATIONS AND LEGACIES | £ | £ | £ | £ |
| Donations | 1,138 | 75,669 | 76,807 | 87,486 |
| Friends of Cam Sight | - | 1,203 | 1,203 | 1,281 |
| Collections | - | 2,114 | 2,114 | 1,806 |
| Legacies | - | 84,905 | 84,905 | 13,398 |
| 1,138 | 163,891 | 165,029 | 103,971 | |
| Included in the above are no donations from trustees | £300 (2022: £300). | |||
| 3. INCOME FROM CHARITABLE ACTIVITIES | ||||
| Low Vision Equipment | 7,956 | 30,095 | 38,051 | 57,304 |
| Children's Services | 7,017 | 11,462 | 18,479 | 29,900 |
| Emotional and Community Support | 203,182 | 13,045 | 216,227 | 140,831 |
| Technology Services | 11,016 | 11,462 | 22,478 | 13,906 |
| Volunteer Services | - | 11,462 | 11,462 | 6,653 |
| 229,171 | 77,526 | 306,697 | 248,594 | |
| Included in the above is income from the following: | ||||
| Cambridgeshire County Council | 122,400 | - | 122,400 | 87,000 |
| Motability | 51,254 | - | 51,254 | - |
| The Enabling Trust | 47,000 | - | 47,000 | 46,000 |
| National Lottery Community Fund | - | - | 36,541 | |
| Bayer PLC | - | - | 35,554 | |
| Global’s Make Some Noise | - | - | 19,920 | |
| Other donations and grants | 8,517 | 57,311 | 65,828 | 7,274 |
| Low vision equipment centre | - | 18,633 | 18,633 | 6,320 |
| Other service contracts | - | - | - | 3,834 |
| Other income | - | 1,582 | 1,582 | 6,151 |
| 229,171 | 77,526 | 306,697 | 248,594 |
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 4. FUNDRAISING INCOME Events, functions and raffles 5. INVESTMENT INCOME Investment income Bank and other interest 6. EXPENDITURE ON RAISING FUNDS Sundry costs Investment management fees Staff costs 7. COST OF CHARITABLE ACTIVITIES Wages and salaries National insurance Pension cost Mobile Unit Electric Vehicle Scheme Equipment purchases Recreation groups and meetings Travel and training Support costs (note 8) |
Restricted Unrestricted Total Total funds funds funds funds 2023 2023 2023 2022 £ £ £ £ - 3,111 3,111 3,392 - 3,111 3,111 3,392 - 25,809 25,809 16,964 - 207 207 1,176 - 26,016 26,016 18,140 - 216 216 1,642 - 5,123 5,123 3,810 - 21,898 21,898 52,467 - 27,237 27,237 57,919 241,063 89,022 330,085 306,217 14,121 5,236 19,357 19,393 14,782 5,481 20,263 11,184 1,061 40 1,101 - 10,902 - 10,902 - 5,084 11,666 16,750 27,257 39,096 1,391 40,487 12,126 1,110 - 1,110 633 28,513 193,049 221,562 223,323 355,732 305,885 661,617 600,133 |
|---|---|
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. SUPPORT AND GOVERNANCE COSTS
| Travel expenses Sundry charitable expenditure Insurance Rent and rates Building costs Repairs and maintenance Computer costs Heat and light Printing, postage and stationery Subscriptions Advertising and PR Recruitment Telephone Accountancy fees Auditors remuneration: audit Auditors remuneration: non-audit Legal and professional fees Wages and salaries National insurance Pension cost Other staff costs Depreciation |
Total Total Restricted Unrestricted Governance 2023 2022 £ £ £ £ £ 8,871 132 - 9,003 9,237 1,146 3,218 25 4,389 11,598 356 9,604 - 9,960 5,604 - 5,020 - 5,020 5,346 228 9,299 - 9,527 7,807 - 7,128 - 7,128 2,941 592 22,938 - 23,530 14,029 - 5,204 - 5,204 634 2,245 5,061 - 7,306 9,969 2,978 - - 2,978 3,174 434 2,408 - 2,842 4,297 3,407 - - 3,407 - 4,904 4,691 - 9,595 11,013 - - - - 4,320 - - 5,000 5,000 6,540 - - 2,000 2,000 4,560 - - 14,614 14,614 7,076 - 58,655 - 58,655 83,121 - 3,440 - 3,440 6,325 - 3,601 - 3,601 2,495 699 4,321 - 5,020 - 2,653 26,690 - 29,343 23,237 28,513 171,410 21,639 221,562 223,323 General Support |
|---|---|
9. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Low Vision Equipment Children's Services Emotional and Community Support Technology Services Volunteer Services |
Support Activities costs and undertaken governance Total Total directly costs funds funds 2023 2023 2023 2022 £ £ £ £ 54,596 27,489 82,085 180,575 26,514 13,349 39,863 68,010 310,247 156,206 466,453 262,964 32,252 16,238 48,490 55,840 16,446 8,280 24,726 32,744 440,055 221,562 661,617 600,133 |
|---|---|
Support costs have been allocated where possible to specific activities, where this is not possible they have been allocated evenly over the seven activities.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 10. NET INCOME/ EXPENDITURE | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| The excess of income over expenditure is stated after charging: | ||
| Depreciation of tangible fixed assets: owned by the company | 29,343 | 23,237 |
| Auditors remuneration: audit | 5,000 | 6,540 |
| Auditors remuneration: non-audit | 2,000 | 4,560 |
| 11. STAFF COSTS | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 408,292 | 436,352 |
| National insurance | 23,943 | 29,334 |
| Pension costs | 25,064 | 15,515 |
| 457,299 | 481,201 | |
| 2023 | 2022 | |
| No. | No. | |
| The average monthly number of employees by headcount during the year was as follows: | ||
| Office and management | 4 | 5 |
| Charity workers | 11 | 12 |
| Fundraising | 2 | 2 |
| Volunteer support | 2 | 2 |
| 19 | 21 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management of the charity comprise the Trustees, the Chief Executive Officer, Client Services Manager, Communication & Development Manager and the Income Generation Manager. The Trustees are not remunerated for their services. The total employment benefits including employer pension contributions of key management personnel were £128,569 (2022: £126,487).
During the year, no Trustees received reimbursement of expenses (2022: £nil).
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS Cost As at 1 April 2022 Additions Disposals As at 31 March 2023 Depreciation As at 1 April 2022 Charge for the year Eliminated on disposal As at 31 March 2023 Net book value As at 31 March 2023 As at 31 March 2022 |
Furniture Freehold Leasehold fittings and property improvements equipment Total £ £ £ £ 217,634 16,732 209,184 443,550 - - 4,315 4,315 (91,206) (91,206) 217,634 16,732 122,293 356,659 54,541 13,161 142,440 210,142 2,653 1,611 25,079 29,343 - - (91,205) (91,205) 57,194 14,772 76,314 148,280 160,440 1,960 45,979 208,379 163,093 3,571 66,744 233,408 |
|---|---|
The freehold property is situated at 167 Green End Road, Cambridge. The property is used as the Company’s headquarters and provides improved facilities to assist blind and partially sighted people in the Cambridge area.
13. FIXED ASSET INVESTMENTS
| Market value As at 1 April 2022 Additions Disposal proceeds Movement in cash Revaluation As at 31 March 2023 Historical cost |
Portfolio Cash Total £ £ £ 447,377 800,353 1,247,730 114,908 - 114,908 (88,291) - (88,291) (262,746) (262,746) (17,054) - (17,054) 456,940 537,607 994,547 387,780 537,607 925,387 |
|---|---|
All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. FIXED ASSET INVESTMENTS (CONTINUED)
The significance of financial instruments to the ongoing financial sustainability of the Charity is considered in the financial review and investment policy and performance sections of the Trustees’ Annual Report.
The objectives of the funds held by Cam Sight are to provide long term growth by investing in a portfolio of other authorised funds, worldwide equities, fixed interest stocks, cash and money market instruments.
The investment managers will take a fundamental and value driven approach to the portfolio allocation, dependant on the relevant attractions of the world equity, fixed interest and currency markets. The fund will take an aggressive view of the stock market weightings in the portfolio, when compared to a neutral world market capitalisation.
The fund has little exposure to credit or cash flow risk. There are no borrowings or unlisted securities of a material nature and so there is little exposure to liquidity risk. The main risks it faces from its financial instruments are market price, foreign currency and interest rate risk. The policies are reviewed for managing these risks in order to follow and achieve the investment objective.
| 14. DEBTORS Trade debtors Other debtors Prepayments and accrued income 15. CURRENT ASSET INVESTMENTS Cash deposits 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals |
2023 2022 £ £ 51,254 3,098 - 58 50,142 17,977 101,396 21,133 47,058 30,010 47,058 30,010 9,049 1,676 8,032 17,158 17,081 18,834 |
|---|---|
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 17. STATEMENT OF FUNDS Designated Funds: Centenary Appeal 21st Century Development Fund General Funds: General Funds: Total Unrestricted Funds Restricted Funds: Headquarters Fund Mobility Fund Council Community Support Rural Support Families services Sell's Legacy Fund National Lottery Community Fund Other Restricted Funds Total Funds |
Brought Transfers Gains/ Carried forward Income Expenditure in/(out) (losses) forward £ £ £ £ £ £ 500,000 - - - - 500,000 748,373 - (100,000) - - 648,373 (10,174) 270,544 (233,122) - (23,869) 3,379 |
|---|---|
| 1,238,199 270,544 (333,122) - (23,869) 1,151,752 |
|
| 163,093 - (2,653) - - 160,440 - 51,254 (10,902) - - 40,352 - 122,400 (122,400) - - - 51,722 47,300 (99,022) - - - 49,897 8,154 (58,051) - - - 12,343 - (12,343) - - - 29,379 - (29,379) - - - 19,781 1,201 (20,982) - - - |
|
| 326,215 230,309 (355,732) - - 200,792 |
|
| 1,564,414 500,853 (688,854) - (23,869) 1,352,544 |
Designated Funds:
Centenary Appeal:
Cam Sight's Centenary Appeal is intended to raise funds to refurbish its premises as a Technology Centre. An internal fundraising committee is working with the Friends of Cam Sight to carry out a programme of fundraising activities.
21st Century Development Fund:
In March 2020 Cam Sight received funds from the New Lands Trust to create a 21st Century service for visually impaired people in Cambridgeshire.
Restricted Funds:
Headquarters Fund:
Established to provide for the purchase of new premises for the Charity. A building was purchased in May 1996 and this is primarily used for charitable purposes, providing advice and support to visually impaired people. The building is also the administrative headquarters of the Charity.
Council Community Support:
Projects funded by Cambridgeshire County Council and to provide community and emotional support for visually impaired people to promote independent living.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
17. STATEMENT OF FUNDS (CONTINUED)
Rural Support:
Rural Support activities continue to be funded primarily by The Enabling Activities Charitable Trust.
Families services
Funding to support young people and their families by providing one to one and group activities.
Sell's Legacy Fund
Funding to develop Cam Sight’s volunteer programme, children’s services, and information hub.
National Lottery Community Fund
A three-year grant to develop Cam Sight’s services in Fenland and East Cambridgeshire.
All funds with a balance or activity over £10k have been shown separately, the remaining funds are shown as Other Restricted Funds. All other funds were relating to restricted monies received for specific projects. Further information on the invaluable support provided to Cam Sight by a wide range of Foundations. Trusts and Grant Making Bodies may be found on our website www.camsight.org.uk. Transfers from General Funds in the year were required to cover excess expenditure.
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
Restricted Unrestricted Total Total funds funds funds funds 2023 2023 2023 2022 £ £ £ £ 160,440 47,939 208,379 233,408 - 994,547 994,547 1,247,730 40,352 126,347 166,699 102,110 - (17,081) (17,081) (18,834) 200,792 1,151,752 1,352,544 1,564,414 |
|---|---|
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
19. PENSION COMMITMENTS
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted £25,064 (2022 - £15,515). There was no balance owing at the year end.
20. OPERATING LEASE COMMITMENTS
At 31 March 2023 the total of the charity's future minimum lease payments under non-cancellable operating leases was:
| Land and buildings Less than one year Between one and five years |
Total Total 2023 2022 £ £ 1,750 3,000 - 1,750 1,750 4,750 |
|---|---|
21. CONTROLLING PARTY
There is no controlling party. The charitable company is controlled by the trustees, who are listed in the Trustees' Report, as a body.
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DocuSign Envelope ID: 809F7834-57DC-4CEB-B2F3-1837048D6E66
CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
22. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
| Income from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net Income/(expenditure) before investment gains/losses Net realised and unrealised gains/(losses) on investments Net income/(expenditure) before transfers Transfers between funds 17 Net movement in funds Reconciliation of movement in funds: Total funds brought forward Total funds carried forward |
Restricted Unrestricted Total funds funds funds 2022 2022 2022 £ £ £ - 103,971 103,971 232,289 16,305 248,594 - 3,392 3,392 - 18,140 18,140 |
|---|---|
| 232,289 141,808 374,097 |
|
| - 57,919 57,919 245,461 354,672 600,133 |
|
| 245,461 412,591 658,052 |
|
| (13,172) (270,783) (283,955) - 13,833 13,833 |
|
| (13,172) (256,950) (270,122) (33,344) 33,344 - |
|
| (46,516) (223,606) (270,122) |
|
| 372,731 1,461,805 1,834,536 |
|
| 326,215 1,238,199 1,564,414 |
All activities relate to continuing operations.
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