camsight
Supporting local people with sight loss
CAMSIGHT
IA company limited by guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(Fornierly known as
The Cambridgeshire Society for The Blind
and Partially Sighted)
Registered number." 00482010
Charity number.. 201640
**CAMSIGHT (A company limited by guarantee) CONTENTS FOR THE YEAR ENDED 31 MARCH 2024**
||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|
**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
**___________________________________________________________________________________________**
## **Charity number 201640**
## **Company number 482010**
## **Registered office**
167 Green End Road Cambridge CB4 1RW
## **1. Report of the trustees for the year ending 31 March 2024**
financial statements of the charity for the year ending 31 March 2024, 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. This is equivalent to one person every six minutes. Over two million people in the UK live with low vision and blindness that has significant impact on their daily lives. By 2050, this is expected to double to four million people. In Cambridgeshire and Peterborough, 28,570 people are estimated to live with low vision and blindness approximately 3% of the population (higher than the national average). This is anticipated to rise to 35,180 by 2032 (26%) [source: RNIB 2022 data].
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.
Our Service Users are often on low incomes including pensions, disability or unemployment benefits, and so may experience financial hardship.
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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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 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.
## **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 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:
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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## **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.
## Support and Advice
All Service Users who need one-to-one support are allocated a Support & Advice worker, who will conduct a holistic, needs-based assessment and put together a support plan tailored to each Service User situation.
We support our Service Users to access welfare benefits and concessions (Attendance Allowance, Personal Independence Payment, Disability Living lue Badge applications, discounted TV licences and bus passes) and grants. We also refer and signpost 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 and regularly attend local transport forums.
## 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 four qualified, BACP accredited counsellors (two of whom work on a freelance basis as when the demand requires) who provide either ad-hoc emotional support or 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 is currently delivered by telephone.
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 volunteers and matched to an individual Service User based on their location, personal interests, age and availability.
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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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 Volunteer Coordinators 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 arrange transport for those in need (volunteer or staff drivers or community transport schemes). Guest speakers are also invited to talk to our members at the groups. During the year we have had speakers from other local charities, Cambridgeshire Police, NHS Medicine Management and local community organisations, amongst others. The peer support 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, a walking group and rowing. We also hold one-off workshops, trips and outings.
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.
In September, we were pleased to offer our support to the Babylon Arts Project, in collaboration with Babylon ARTS, Wicken Fen, Ely Museum and RNIB, who were working together with composer and artist Tom Adams to offer people with low vision and blindness the opportunity to creatively respond to the Fenland landscape through sensory walks, sound workshops and handling museum artefacts. The six-month project involved walking tours across the Fens, boat trips and museum visits to create an audio sound piece and installation that was showcased in March at the Babylon Gallery in Ely.
## **Volunteering Opportunities**
We have a pool of over 100 volunteers, several of whom are also Service Users. They support CamSight with a range of activities including helping at our peer support groups, driving Service Users to groups and activities, and befriending.
## **3. Achievements and performance**
## **3.1. Service Support**
At the end of March 2024, 2,180 visually impaired people were registered on our beneficiary databases: 2,053 in Cambridgeshire and 127 in Peterborough. Our numbers in Peterborough have steadily grown throughout the year, increasing by 58% compared to the previous year.
In early 2024, we introduced a new e to support the RNIB with their Eye Care Support Pathway. We now have a monthly presence at the eye clinics in Addenbrookes and Peterborough City Hospitals to raise public awareness of CamSight. This new partnership aims to improve a patients' understanding of their eye care journey from the diagnosis stage to the emotional and practical support they may need.
## **3.2. Enhancing independence**
3.2.1. Low Vision Equipment Centres (LVECs): During the year, we supported 85 people at our LVECs in Cambridge and Wisbech.
In October 2023 we closed our equipment centre in Wisbech. Before this, attendance figures at the LVEC were falling, largely due to our Mobile Unit's popularity. Since then, all equipment and assistive technology cases in the North of Cambridgeshire have been delivered by the Mobile Unit.
3.2.2. Community support: We supported 311 people with a range of advice, benefit, concession, grant, housing, signposting and advocacy support.
3.2.3. Mobile Unit Equipment Service: 455 people received technology and equipment support via our Mobile Unit 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.
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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## **3.3. Improving wellbeing**
## 3.3.1. Emotional support: 86 people received support by our counsellors.
3.3.2. Sports: During the year we delivered a range of activities including Pilates classes, chair-based exercise, rowing and walking groups. In total 35 individuals engaged in sporting activities during the year.
## **3.4. Increasing inclusion**
3.4.1. Peer support groups: During the year, 282 Service Users attended our monthly peer support groups at 15 locations across the County.
3.4.2. Volunteering: CamSight is fortunate to have had over 100 volunteers supporting the charity with activities including befriending, running sports activities, driving clients to peer support groups and fundraising.
## **3.5. Fundraising**
We are pleased to have generated £544,730 this year.
A breakdown of our income can be seen below:
|Legacies|£27,502|
|---|---|
|Donations|£17,548|
|Collections|£16,271|
|Cambridgeshire County Council|£132,192|
|Peterborough City Council|£12,966|
|National Lottery Community Fund|£253,967|
|Thomas Pocklington Trust|£13,111|
|Ulverscroft Foundation|£3,000|
|Cambridgeshire Community Foundation|£1,000|
|Edward Gosling Foundation|£5,000|
|Other donations & grants|£2,499|
|Other income|£23,422|
|Other fundraising|£4,004|
|Investment income|£32,248|
## **4. Organisational Update**
We have and this has been registered with Companies House and the Charities Commission.
In October, the Head of Fundraising & Engagement left the organisation followed by the Chief Executive Officer in November, both to pursue new ventures.
In January, the Trustees agreed to a proposal for a new Senior Leadership Team (SLT) structure. Our SLT now comprises of a Head of Services (SLT Lead), a Head of Operations, and a Head of Business Development. This means we have a stronger and more robust knowledge and leadership tier and, as we have allocated the CEO responsibilities across the SLT, it has removed the need to recruit into this position.
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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## **5. Future plans**
We continue to make progress with the three-year strategy that was implemented in early 2023.
Our areas of focus included:
- Improve efficiency and effectiveness of service delivery.
- Improve operational efficiency and manage costs.
- Stabilise and diversify our income stream.
- Strengthen leadership.
- Improve employee recruitment and retention.
- Financial risk management and mitigation.
Key activities included:
- A restructure of staffing and services as well as the changes at SLT level our front-line support services are now delivered in a more focused and coordinated way, delivered under the supervision of four Service Managers.
- An increase in service delivery in Peterborough, including opening another peer support group we are pleased to report that we opened the second group in January and introduced our monthly sessions at Peterborough City Hospital. Beneficiary numbers continue to increase.
- Change of charitable structure from a charity to a CIO this is in progress.
- Employability we continue to conduct research projects, liaising with current employment services to establish future development needs.
- Emotional Support we continue to explore need for in-person peer support groups and reinstate in line with demand.
- Implementation of the volunteer strategy, with particular focus on recruiting volunteer drivers for the Motability Project we have welcomed several new volunteer drivers during the year and continue to work on the volunteer strategy. The Motability Project is progressing well.
- Creation of a Finance Committee to monitor and mitigate financial risks the committee was formed in 2023, comprising of the Chair, Vice-Chair and Treasurer, who meet quarterly with members of the SLT.
## **6. 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:
- Recruiting a Head of Fundraising & Engagement, with skills in Trusts and Foundations and Statutory income generation following the departure of this position in October 2023, we changed the job title to Head of Business Development and recruited into the position in March 2024 (with start date April 2024).
- Bringing trusts and foundations applications in-house.
- Advertising for a Corporate Fundraiser to secure and manage our business partnerships.
- Not including significant legacy income within our fundraising forecast unless a legacy gift has been confirmed and a timeframe indicated.
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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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.
- 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 £256,146 (2023 £211,870). Restricted funds decreased from £200,792 to £168,466 on 31 March 2024. Overall funds decreased from £1,352,544 to £1,096,398 on 31 March 2024.
## **6.1. 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 £800,159 (31 March 2023 £994,547).
f Brown Shipley. The
review involved each trustee individually assessing the levels of risk they felt appropriate to take on with the 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.
## **6.2. Reserves policy**
The policy of the board of trustees is that the unrestricted reserves of the charity should be between four and six months of operational costs. On 31 March 2024 (unrestricted) reserves were £427,932 (31 March 2023 £3,379) following the transfer to funds designated to the ongoing provision of our services to meet our service . However, funds worth of £264,865 were withdrawn from the investments allowing for the expected mix of unrestricted and restricted projects.
## **7. Reference and administrative details**
## **7.1. Our advisers**
## 7.1.1. Auditors
Chater Allan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU
## 7.1.2. Bankers
Lloyds TSB PLC PO Box 383 Cambridge CB3 0NZ
## 7.1.3. Investment Advisors and Bankers
Brown Shipley Richmond House 16-20 Regent Street Cambridge CB2 1DB
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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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## **7.2. 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 2024. The Trustees confirm that the annual report and financial statements of the company comply with current statutory March 2005.
## **7.3. Key management personnel CamSight**
7.3.1. Directors and Trustees
Mr N Redmayne, Chair Mr R Newbery (Vice-Chair) Mr D Taylor (Treasurer) Mrs L Fairbrother (resigned 26.03.2024) Mr J Harvey Stewart Prof K Latham Mr S Rock Ms V Shilling * (resigned 15.04.2024)
* Trustees with a visual impairment
## 7.3.2. Company Secretar **y**
Mr A Moore (resigned 17.11.23)
## 7.3.3. Chief Executive Officer
Mr A Moore (resigned 17.11.23)
## 7.3.4. Patrons
Dame Mary Archer
## **8. Structure, governance, and management**
## **8.1. 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 changes were adopted by the board at the October 2018 annual general meeting.
The objects cover, amongst other provisions, 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.
## **8.2. 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 SLT. 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 SLT 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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**CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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## **8.3. Structure and decision making**
The newly formed Finance Committee also meet quarterly with the Head of Business Development to discuss financial matters. Implementation of the strategy and management of the organisation is the responsibility of the Head of Services.
Individual staff work plans and targets are agreed at regular performance reviews; departmental objectives are set by the SLT and managers, and staff meetings address issues that affect the whole team. The Chair and SLT meet regularly to share information and consider important issues arising between Board meetings.
## **8.4. 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.
Council, Peterborough County Council, City and District Councils, and with other partners, including Anglia Ruskin University and local businesses.
## **8.5. Risk management**
On an annual basis, a designated trustee and the SLT 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 SLT 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.
## **9**
The charity trustees (who are also the directors of CamSight for the purposes of company law) are responsible for preparing a 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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
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## **CAMSIGHT (FORMERLY THE CAMBRIDGESHIRE SOCIETY FOR THE BLIND AND PARTIALLY SIGHTED) (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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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 dissemination of financial statements may differ from legislation in other jurisdictions.
## **9.1. Statement as to disclosure to our auditors**
- there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the auditor is unaware, and
- the trustees, having made enquiries of fellow directors and the 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: 15 October 2024
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**CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
We have audited the financial statements of CamSight (the charitable company) for the year ended 31 March 2024 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:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. 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 the financial statements section of our report. We are independent of the charitable company in accordance with 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 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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**CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- prepared is consistent with the financial statements; and
## **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 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:
- 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.
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.
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.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free 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:
12
**CAMSIGHT (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2024**
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 guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-
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 audit work, for this report, or for the opinions we have formed.
For and on behalf of Chater Allan LLP Chartered Accountants & Statutory Auditors Unit 7 Quy Court Stow-cum-Quy Cambridge CB25 9AU
13
## **CAMSIGHT (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024**
|**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**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
1,200
60,121
61,321
165,029
167,269
279,888
447,157
306,697
-
4,004
4,004
3,111
-
32,248
32,248
26,016
168,469
376,261
544,730
500,853
-
28,999
28,999
27,237
200,795
612,414
813,209
661,617
200,795
641,413
842,208
688,854
(32,326)
(265,152)
(297,478)
(188,001)
-
41,332
41,332
(23,869)
(32,326)
(223,820)
(256,146)
(211,870)
-
-
-
-
(32,326)
(223,820)
(256,146)
(211,870)
200,792
1,151,752
1,352,544
1,564,414
168,466
927,932
1,096,398
1,352,544|
|---|---|
All activities relate to continuing operations.
The notes on pages 17 to 29 form part of these financial statements.
14
**CAMSIGHT (A company limited by guarantee) BALANCE SHEET AS AT 31 MARCH 2024**
**Registered number: 00482010**
|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**
**2024**
**2023**
**£**
**£**
194,301
208,379
800,159
994,547
994,460
1,202,926
-
-
43,586
101,396
-
47,058
90,726
18,245
134,312
166,699
32,374
17,081
101,938
149,618
1,096,398
1,352,544
168,466
200,792
927,932
1,151,752
1,096,398
1,352,544|
|---|---|
The financial statements were approved by the Trustees on 15 October 2024 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.
15
**CAMSIGHT (A company limited by guarantee) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|**Total**
**2024**
**£**
**Cash flows from operating activities:**
Net cash provided by operating activities
(241,574)
**Cash flows from investing activities:**
Interest from investments
32,248
Increase in investments
235,720
Disposal of property, plant and equipment
639
Purchase of property, plant and equipment
(1,610)
Net cash provided by investing activities
266,997
25,423
65,303
90,726
Cash at bank and in hand
90,726
Investments
-
90,726
**Reconciliation of net income/(expenditure) to net cash flow from operating activities**
Net income/(expenditure) for the reporting period
(256,146)
Adjustments for:
Depreciation charges
15,049
Losses/(gains) on investments
(41,332)
Interest from investments
(32,248)
Derease/(increase) in stock
-
(Increase)/decrease in debtors
57,810
Increase/(decrease) in creditors
15,293
Net cash provided by operating activities
(241,574)
**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**
**2023**
**£**|
|---|---|
||(272,648)|
||26,016
236,129
-
(4,315)|
||257,830|
|||
||(14,818)|
||80,121|
||65,303
18,245
47,058|
||65,303
(211,870)
29,343
17,054
(26,016)
856
(80,263)
(1,752)|
||(272,648)|
16
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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.
17
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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 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
18
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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.
19
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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.
|**2. INCOME FROM DONATIONS AND LEGACIES**
Donations
Friends of Cam Sight
Collections
Legacies|**Unrestricted**
**Total**
**Total**
**funds**
**funds**
**funds**
**funds**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
1,200
16,348
17,548
76,807
-
-
-
1,203
-
16,271
16,271
2,114
-
27,502
27,502
84,905
1,200
60,121
61,321
165,029
**Restricted**|
|---|---|
Included in the above are no donations from trustees (2023: £300).
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|Grants and donations
Other income
Included in the above is income from the following:
Cambridgeshire County Council
Motability
The Enabling Trust
National Lottery Community Fund
Peterborough City Council
Thomas Pocklington Trust
Ulverscroft Foundation
Cambridgeshire Community Foundation
Edward Gostling Foundation
Other donations and grants
Low vision equipment centre
Other income|167,269
253,967
421,236
295,235
-
25,921
25,921
11,462
167,269
279,888
447,157
306,697
132,192
-
132,192
122,400
-
-
-
51,254
-
-
-
47,000
-
253,967
253,967
-
12,966
-
12,966
-
13,111
-
13,111
-
3,000
-
3,000
-
1,000
-
1,000
-
5,000
-
5,000
-
-
2,499
2,499
65,828
-
11,862
11,862
18,633
-
11,560
11,560
1,582
167,269
279,888
447,157
306,697|
|---|---|
20
## **CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**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**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
-
4,004
4,004
3,111
-
4,004
4,004
3,111
-
32,121
32,121
25,809
-
127
127
207
-
32,248
32,248
26,016
-
-
-
216
-
2,976
2,976
5,123
-
26,023
26,023
21,898
-
28,999
28,999
27,237
123,236
281,436
404,672
330,085
-
33,506
33,506
19,357
-
35,059
35,059
20,263
-
5,660
5,660
1,101
26,085
-
26,085
10,902
315
13,018
13,333
16,750
1,775
19,625
21,400
40,487
161
-
161
1,110
49,223
224,110
273,333
221,562
200,795
612,414
813,209
661,617|
|---|---|
21
## **CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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
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**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
164
7,803
-
7,967
9,003
-
2,843
-
2,843
4,389
-
9,539
-
9,539
9,960
-
4,053
-
4,053
5,020
3,686
3,343
-
7,029
9,527
-
12,968
-
12,968
7,128
1,150
20,664
-
21,814
23,530
-
5,728
-
5,728
5,204
-
4,259
-
4,259
7,306
100
1,023
-
1,123
2,978
-
734
-
734
2,842
-
1,961
-
1,961
3,407
-
8,091
-
8,091
9,595
-
-
6,000
6,000
5,000
-
-
13,861
13,861
2,000
-
-
7,379
7,379
14,614
-
70,606
-
70,606
58,655
-
5,846
-
5,846
3,440
-
6,117
-
6,117
3,601
35,500
24,866
-
60,366
5,020
8,623
6,426
-
15,049
29,343
49,223
196,870
27,240
273,333
221,562
**General Support**|
|---|---|
## **9. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Low Vision Equipment
Emotional and Community Support
Volunteer Services
Engagement
Fundraising
Office
Overhead|**Support**
**Activities**
**costs and**
**undertaken**
**governance**
**Total**
**Total**
**directly**
**costs**
**funds**
**funds**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
12,650
-
12,650
10,234
265,435
97,478
362,913
297,315
14,427
-
14,427
11,672
93,896
-
93,896
75,965
46,312
828
47,140
38,138
97,137
-
97,137
78,586
10,019
175,027
185,046
149,707
-
539,876
273,333
813,209
661,617|
|---|---|
22
## **CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|**10. NET INCOME/ EXPENDITURE**|**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|The excess of income over expenditure is stated after charging:|||
|Depreciation of tangible fixed assets: owned by the company|15,049|29,343|
|Auditors remuneration: audit|6,000|5,000|
|Auditors remuneration: non-audit|13,861|2,000|
|**11. STAFF COSTS**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|498,813|408,292|
|National insurance|40,070|23,943|
|Pension costs|42,945|25,064|
||581,828|457,299|
||**2024**|**2023**|
||**No.**|**No.**|
|The average monthly number of employees by headcount during the year was as follows:|||
|Office and management|4|4|
|Charity workers|11|11|
|Fundraising|1|2|
|Volunteer support|2|2|
||18|19|
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 £177,482 (2023: £141,206).
During the year, no Trustees received reimbursement of expenses (2023: £nil).
23
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **12. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**
**Cost**
As at 1 April 2023
Additions
Disposals
As at 31 March 2024
**Depreciation**
As at 1 April 2023
Charge for the year
Eliminated on disposal
As at 31 March 2024
**Net book value**
As at 31 March 2024
As at 31 March 2023|**Furniture**
**Freehold**
**Leasehold**
**fittings and**
**property**
**improvements**
**equipment**
**Total**
**£**
**£**
**£**
**£**
217,634
16,732
122,293
356,659
-
-
1,610
1,610
(639)
(639)
217,634
16,732
123,264
357,630
57,194
14,772
76,314
148,280
2,652
806
11,591
15,049
-
-
-
-
59,846
15,578
87,905
163,329
157,788
1,154
35,359
194,301
160,440
1,960
45,979
208,379|
|---|---|
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 2023
Additions
Disposal
Movement in cash
Revaluation
As at 31 March 2024
Historical cost|**Portfolio**
**Cash**
**Total**
**£**
**£**
**£**
456,940
537,607
994,547
114,833
114,833
(122,985)
(122,985)
(227,568)
(227,568)
41,332
41,332
490,120
310,039
800,159
421,834
310,039
731,873|
|---|---|
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).
24
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **13. FIXED ASSET INVESTMENTS (CONTINUED)**
The significance of financial instruments to the ongoing financial sustainability of the Charity is considered in the
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
Prepayments and accrued income
**15. CURRENT ASSET INVESTMENTS**
Cash deposits
**16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals|**2024**
**2023**
**£**
**£**
-
51,254
43,586
50,142
43,586
101,396
-
47,058
-
47,058
18,123
9,049
14,251
8,032
32,374
17,081|
|---|---|
25
## **CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**----- Start of picture text -----**
17. STATEMENT OF FUNDS Brought Transfers Gains/ Carried
forward Income Expenditure in/(out) (losses) forward
£ £ £ £ £ £
Designated Funds:
- - - -
Centenary Appeal 500,000 500,000
- - -
21st Century Development Fund 648,373 (648,373)
General Funds:
General Funds: 3,379 376,261 (641,413) 648,373 41,332 427,932
Total Unrestricted Funds 1,151,752 376,261 (641,413) - 41,332 927,932
Restricted Funds:
- - -
Headquarters Fund 160,440 (2,652) 157,788
- -
Mobility Fund 40,352 (32,359) 7,993
- - -
Cambridgeshire County Council 132,192 (132,192)
- - -
Peterborough City Council 12,966 (12,966)
- - - -
Thomas Pocklington 13,111 (13,111)
Ulverscroft Foundation 3,000 (315) - - 2,685
- - -
Cambridgeshire Community Foundation 1,000 (1,000)
- - -
Edward Gostling Foundation 5,000 (5,000)
Other restricted funds - 1,200 (1,200) - - -
- -
200,792 168,469 (200,795) 168,466
Total Funds 1,352,544 544,730 (842,208) - 41,332 1,096,398
**----- End of picture text -----**
## **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.
## Cambridgeshire County Council Contract:
Projects funded by Cambridgeshire County Council and to provide community and emotional support for visually impaired people to promote independent living.
26
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **17. STATEMENT OF FUNDS (CONTINUED)**
## Mobility Fund:
To improve transport options available to blind and partially sighted people within Cambridgeshire and Peterborough.
## Peterborough City Council Contract:
Projects funded by Peterborough City Council to provide community and emotional support for visually impaired people to promote independent living.
Thomas Pocklington Trust:
## Ulverscroft Foundation:
To purchase "Demonstration Equipment" for our assistive technology department (our Mobile Units - as part of our Equipment & Accessibility service)
## Cambridgeshire Community Foundation:
To support tour Emotional Support service.
## Edward Gostling Foundation:
## Operating Costs
All funds with a balance or activity over £2k 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**
**2024**
**2024**
**2024**
**2023**
**£**
**£**
**£**
**£**
157,788
36,513
194,301
208,379
-
800,159
800,159
994,547
10,678
123,634
134,312
166,699
-
(32,374)
(32,374)
(17,081)
168,466
927,932
1,096,398
1,352,544|
|---|---|
27
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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 £42,945 (2023 - £25,064). 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**
**2024**
**2023**
**£**
**£**
1,750
1,750
-
-
1,750
1,750|
|---|---|
## **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.
28
**CAMSIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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**
**2023**
**2023**
**2023**
**£**
**£**
**£**
1,138
163,891
165,029
229,171
77,526
306,697
-
3,111
3,111
-
26,016
26,016|
|---|---|
||230,309
270,544
500,853|
||-
27,237
27,237
355,732
305,885
661,617|
||355,732
333,122
688,854|
||(125,423)
(62,578)
(188,001)
-
(23,869)
(23,869)|
||(125,423)
(86,447)
(211,870)
-
-
-|
||(125,423)
(86,447)
(211,870)|
||326,215
1,238,199
1,564,414|
||200,792
1,151,752
1,352,544|
All activities relate to continuing operations.
29