**S O U T H D E V O N A N D C O R N W A L L**
# **I N S T I T U T I O N F O R T H E B L I N D**
## **P L Y M O U T H**
(The Charity is an unincorporated body managed by Trustees who are governed by the Constitution dated 9[th] March 1982. The Charity is registered in accordance with the National Assistance Act 1948).
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THE ONE HUNDRED AND SIXTY SECOND
## OF THE MANAGEMENT COMMITTEE
PRESENTED AT AN ANNUAL GENERAL MEETING
HELD AT THE COUNCIL HOUSE, PLYMOUTH WEDNESDAY 16[TH] NOVEMBER 2022 AT 10.30 A.M.
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SUPPORTED BY VOLUNTARY CONTRIBUTIONS
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## **SOUTH DEVON AND CORNWALL INSTITUTION FOR THE BLIND 2 Stonehouse Street, Plymouth, Devon, PL1 3PY**
## **MANAGEMENT COMMITTEE**
## 2022/2023
President and Chairman: Vice Chairman: Hon. Treasurer: Hon. Secretary:
CLLR MRS M ASPINALL MR JOHN WARD MRS J STEYN MR EDWARD KEAST
## Auditors
NORTHCOTT TRUMFIELD Chartered Accountants Devonshire Villa, 52 Stuart Road, Stoke Plymouth, PL3 4EE
Bankers LLOYDS TSB BANK PLC Royal Parade Plymouth PL1 1HB
## Investment Advisors
CCLA Investment Management Limited CCLA Fund Manager Ltd, COIF Charity Funds Senator House 85 Queen Victoria Street London, EC4V 4ET
(Registered in accordance with the National Assistance Act, 1948)
Supported by Voluntary Contribution
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## **SOUTH DEVON AND CORNWALL INSTITUTION FOR THE BLIND PRESIDENTS**
1973 - S. NATHAN, Esq. 1974 - R. HALL, Esq. 1975 - S. NATHAN, Esq. 1976 - H. C. WILLIAMS, Esq. 1977 - H. C. WILLIAMS, Esq. 1978 - H. C. WILLIAMS, Esq. 1979 - H. C. WILLIAMS, Esq. 1980 - H. C. WILLIAMS, Esq. 1981 - H. C. WILLIAMS, Esq. 1982 - H. C. WILLIAMS, Esq. 1983 - H. C. WILLIAMS, Esq. 1984 - H. C. WILLIAMS, Esq. 1985 - H. C. WILLIAMS, Esq. – until February 1985. 1985 - G. P. BLADES, Esq. 1986 - G. P. BLADES, Esq. 1987 - G. P. BLADES, Esq. 1988 - Mrs. E. BROCK, M.B.E. 1989 - Mrs. E. BROCK, M.B.E. 1990 - Mrs. E. BROCK, M.B.E. 1991 - Mrs. E. BROCK, M.B.E. 1992 - Mrs. E. BROCK, M.B.E. 1993 - Mrs. E. BROCK, M.B.E. 1994 - Mrs. E. BROCK, M.B.E. 1995 - Councillor B. C. A. MILLER, JP 1996 - Councillor B. C. A. MILLER, JP 1997 - Councillor B. C. A. MILLER, JP 1998 - Councillor B. C. A. MILLER, JP 1999 - Councillor B. C. A. MILLER, JP 2000 - Councillor B. C. A. MILLER, JP 2001 - Councillor B. C. A. MILLER, JP 2002 - Councillor B. C. A. MILLER, JP 2003 - Councillor B. C. A. MILLER, JP 2004 - Councillor A. KERSWELL 2005 - Councillor A. KERSWELL 2006 - Councillor A. KERSWELL 2007 - Councillor A. KERSWELL 2008 - Councillor A. KERSWELL 2009 - Councillor A. KERSWELL 2010 - MR A KERSWELL 2011 - MR JOHN WARD 2012 - MR ROGER GARRATT 2013 - MR ROGER GARRATT 2014 - MR ROGER GARRATT 2015 - MR ROGER GARRATT 2016 - MR ROGER GARRATT 2017 - MR ROGER GARRATT 2018 - MR ROGER GARRATT 2019 - Councillor MRS MARY ASPINALL 2020 - Councillor MRS MARY ASPINALL 2021 - Councillor MRS MARY ASPINALL 2022 - Councillor MRS MARY ASPINALL
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**162nd ANNUAL GENERAL MEETING**
OF THE
## **SOUTH DEVON & CORNWALL INSTITUTION FOR THE BLIND**
Stonehouse Street, Plymouth Held at the Council House, Plymouth
## **Wednesday 16th November 2022 at 10.30 a.m.**
Chairman: Chairman of the South Devon & Cornwall Institution for the Blind Mrs Mary Aspinall
## **AGENDA**
The Chairman of the Institution: to welcome everyone to this, our 162nd Annual General Meeting.
Apologies:
Minutes of the last Annual General Meeting - these are to be taken as read, having been previously circulated with the Annual Report.
The Chairman (In the Chair): To recommend the adoption of the Accounts and Report of the Trustees, and call upon Mr E Keast to second the motion.
Auditors: To appoint Northcott Trumfield as the Auditors
New Trustees: No new Trustees, but existing Trustees are actively looking to recruit new Trustees.
Election of Charity Trustees:
.
Existing members willing to stand for the ensuing year:-
Mr J Ward Mr E Keast Cllr Mrs M Aspinall Mrs J Steyn
Ballot papers to be completed by Trustees. Each Trustee may vote for themselves and must obtain 50% of the vote of the members present to be re-elected. Cllr Mrs M Aspinall and Mrs J Steyn cannot vote for each other.
To read the names of members voted onto the committee as Trustees
Election of Officers:
Ballot papers to be completed by Trustees. Trustees may vote for themselves and must obtain 50% of the vote of members present. Cllr Mrs M Aspinall and Mrs J Steyn cannot vote for each other.
The officers were nominated at the last meeting dated 14[th] September 2022
## **President and Chairman**
Cllr Mrs M Aspinall
**Vice Chairman**
Mr John Ward
**Secretary** Mr E Keast
**Treasurer** Mrs J Steyn
Investment Policy
Any Other Business
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**162nd ANNUAL GENERAL MEETING OF THE**
## **SOUTH DEVON & CORNWALL INSTITUTION FOR THE BLIND**
## **STONEHOUSE STREET, PLYMOUTH**
## **MINUTES**
**Presiding:** Chairman of the South Devon & Cornwall Institution for the Blind, Cllr Mrs M Aspinall
**Members Present** :
Cllr Mrs M Aspinall Mr E Keast Mrs J Steyn Mr John Ward
**Apologies:**
**Minutes** : Minutes of the last Annual General Meeting having already been circulated were taken as read.
**Accounts and Report of the Trustees** : Cllr Mrs M Aspinall moved the adoption of the Accounts and Report of the Trustees (having been previously circulated to all Management Committee members) and Mr E Keast seconded the adoption. All members agreed.
**Auditors** : The Chairman proposed to appoint Northcott Trumfield as the Auditors of the Charity and Mr E Keast seconded this motion. All members agreed.
**New Trustees** : No new Trustees, but existing Trustees are actively looking to recruit new Trustees.
**Election of Trustees and Officers:**
The following were elected as Trustees and Officers.
President and Chairman: CLLR MRS MARY ASPINALL Vice Chairman: MR JOHN WARD Hon. Treasurer: MRS JANET STEYN Hon. Secretary: MR EDWARD KEAST
## MEMBERS
No other members
## **Investment Policy**
The Trustees, at a meeting on 17[th] July 2018 agreed to adopt a balanced approach to the investment of the Charity’s assets, other than the property in Stonehouse Street, Plymouth. The Trustees recognised that the balanced approach adopted in CCLA’s COIF Charities Investment Fund does have a high equity content but are reassured, since one of the investment objectives of that Fund is to control volatility to 75% of the equity market, and agreed to move our investments from Lloyds Bank to CCLA in September 2018. This decision was reaffirmed at a meeting held on 14[th] September 2022 to continue to hold our investments with CCLA’s COIF Charities Investment Fund.
## **Any Other Business**
There being no further business, the Chairman closed the Annual General Meeting
The Management Committee have pleasure in presenting this the 162[nd] Annual Report for the year ending 31[st] March 2022
The full report of the Trustees is contained within the following Report and Financial Statements
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## **SOUTH DEVON AND CORNWALL INSTITUTION FOR THE BLIND**
**TRUSTEES' REPORT AND ACCOUNTS**
**Year ended 31 March 2022**
**Charity No. 202125**
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
## CONTENTS
||Page|
|---|---|
|Trustees’ Report|1-3|
|Independent Examiner's Report|4|
|Receipts and Payments Account|5|
|Statement of Assets and Liabilities|6|
|Notes to the Accounts|7|
## TRUSTEES’ ANNUAL REPORT
The trustees present their report along with the receipts and payments account of the charity for the year ended 31 March 2022 which comply with the charity's trust deed and applicable law.
## **1. Reference and Administrative Details**
## **1.1 South Devon and Cornwall Institution for the Blind**
The Institution is governed under a Constitution dated 9 March 1982 and is a Registered Charity (No. 202125). The registered office is 2 Stonehouse Street, Plymouth, Devon, PL1 3PE. The charity was formed in 1860.
## **1.2 Addresses**
Principal Office: 2 Stonehouse Street Plymouth Devon PL1 3PE
## **1.3 Trustees and Executive Committee during the year**
The following were the Management Committee at the time of approval of the report: Councillor M. Aspinall Chairman Mr E. Keast Hon. Secretary Mrs J. Steyn Treasurer Mr J. Ward Vice Chairman
**1.4 Professional Advisers** Independent Examiners: Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Bankers: Lloyds TSB Bank Plc 8 Royal Parade Plymouth PL1 1HB Investment Manager: CCLA Investment Management Limited and CCLA Fund Manager Limited managers of COIF Charity Funds Senator House 85 Queen Victoria Street London EC4V 4ET
1
TRUSTEES’ ANNUAL REPORT
## **2. Structure, Governance and Management**
## **2.1 Governance**
The trustees who have served during the year and since the year end are set out on page 1. Trustees are appointed by the Board of Trustees yearly at the Annual General Meeting where retiring trustees are eligible for re-election. The trustees meet regularly throughout the year. The Board of Trustees are known as the Management Committee.
Decisions are made and ratified at management committee meetings.
## **2.2 Recruitment of Trustees**
Trustees are briefed about the charity, shown accounts and the operations of the charity.
## **2.3 Internal Control**
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the accounts comply with applicable law, regulations and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **3. Objectives and Activities**
## **3.1 Objectives**
The objectives of the charity are:
"To promote the welfare of the blind and the prevention of blindness in the area comprising South Devon and Cornwall, and for the purposes of the constitution the word blind shall be those persons state registered blind and, therefore, substantially and permanently handicapped by defective vision."
The trustees have paid due regard to the guidance on public benefit in deciding what activities the charity should undertake.
## **3.2 Current Activities**
The charity leases the freehold property to raise rent as investment income which is applied with other income to meet the running costs of the pension scheme and charity and to assist blind people in the designated area.
## **3.3 Grant making policy**
## _Welfare for state registered blind_
We receive applications from individuals or other charities on behalf of individuals. Each application is considered on its individual merits.
2
TRUSTEES’ ANNUAL REPORT
## **4. Report of the Trustees for the year ended 31 March 2022**
After receiving a report from our Pension Trustee into the possible wind-up costs of our Pension Scheme, the Trustees agreed that the significant costs involved were prohibitive and would significantly reduce our investments and, therefore, the availability of funds required to meet the objectives of the Charity. We continue to fund the Pension Scheme from our investments and the income from the rental of our premises.
The Charity no longer retain the use of an office in our building and we propose to install double glazing in the vacated office, which our tenants will then make use of, enabling us to increase the rent. Stratton Creber, who manage the rental of our premises, provide regular reports and recommendations on the condition of the building and the Trustees aim to keep it in good repair.
The Trustees felt it prudent to, again, send £20 Marks & Spencer vouchers to its members as a Christmas gift.
The Charity received approximately 50 enquiries from blind and visually impaired persons or their helpers and where assistance could not be provided directly, they were referred to the relevant agency or charity.
The charity is grateful for all donations and support that it has received during the year.
## **5. Financial Review**
The total receipts for the year were £31,340 and total payments £35,857 resulting in a deficit of £4,517. Cash funds at the year end are £28,987. Total Net Assets were £813,216 (2021 : £765,112) as at page 6. There are no restricted funds.
We engage COIF Charity Funds as investment managers. The investment policy is to adopt a balanced approach with CCLA Charities Investment Fund with an objective of controlling volatility to 75% of the equity market. In this year’s accounts the investment is included at market value and the comparative has been re-stated.
We deem it important to keep a proportion of funds in cash deposits to react to any unforeseen circumstances.
The trustees consider the performance of the investment and its market value to be satisfactory.
The reserves of the Institution are represented by freehold property, investments in CCLA Charities Investment Fund Accumulation Units which were valued at £780,106 at the year end.
These investments generate income, which is used for the furtherance of our objectives, and are held in order that the Charity could survive a significant adverse change in fortune.
Approved by the Management Committee on 12 August 2022 and signed on its behalf by
MR J WARD
Trustee
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**Independent Examiner's Report to the Trustees of South Devon and Cornwall Institution for the Blind**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 5 to 7.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
G I NORTHCOTT Bsc(Econ), FCA, DChA Institute of Chartered Accountants in England and Wales Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE
Date: 12 August 2022
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RECEIPTS AND PAYMENTS ACCOUNT **FOR THE YEAR TO** 31 MARCH 2022
|
**Receipts**
Interest and dividends on deposits and fixed
investments
Tenant contribution to costs
Rental income
Donations
Sale of investments
**Total Receipts**
**Payments**
Christmas gifts/party for the blind – net cost
Donations
Premises
Pension scheme compliance costs
Administrator costs
Insurance
Legal and professional
General expenses
Purchase of investments
**Total Payments**
**Net Receipts/(Payments)**
**Prepayment Adjustment**
**Cash Funds at 31 March 2021**
**Cash Funds at 31 March 2022**|Unrestrict
ed
Fund
2022
£
33
2,909
28,398
-
31,340
-
31,340
540
-
154
24,519
3,330
3,492
3,329
493
35,857
-
35,857
(4,517)
(3,118)
36,622
28,987|Unrestrict
ed
Fund
2021
£
67
2,833
25,709
100|
|---|---|---|
|||28,709|
|||-|
|||
28,709|
|||
720
100
325
27,787
2,352
3,421
2,494
489|
|||
37,688|
|||-|
|||
37,688|
|||
(8,979)
2,838
42,763|
|||
36,622|
5
STATEMENT OF ASSETS AND LIABILITIES AT 31 MARCH 2022
|Note
**Cash Funds**
Deposit account
Current account
Legacy account
Pension scheme account
**Total Cash Funds**
**Prepayments and Debtors**
**Investment Assets**
COIF Investment Fund at valuation
Freehold property at valuation
2
**Total Investment Assets**
**Assets Retained for Charity's Own Use**
Equipment
**Liabilities**
Deferred income
**Total Net Assets**|Unrestricte
d
Funds
2022
£
27,712
494
613
168
28,987
3,674
505,106
275,000
780,106
449
-
813,216|Unrestricte
d
Funds
2021
£
34,650
1,191
613
168|
|---|---|---|
|||36,622|
|||3,465|
|||
425,485
275,000|
|||727,485|
|||449|
|||(2,909)|
|||765,112|
Signed on behalf of the Trustees on 12 August 2022
and signed on its behalf by:
Trustee: MR J WARD
Trustee: MR E KEAST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022
## **1. Trustees' Remuneration**
The trustees did not receive any remuneration or expenses in the year (2021: nil).
The charity purchased trustee indemnity insurance £ 583 (2021: £583).
## **2. Freehold Investment Property**
This is re-valued at estimated market value by the trustees, following a professional valuation by Chartered Surveyors in September 2020, at £275,000.
## **3. Related Party Transactions**
The insurance premiums are arranged by Ward Associates Insurance Brokers, of whom John Ward is the principal.
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