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2025-03-31-accounts

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).

THE ONE HUNDRED AND SIXTY FIFTH

A N N U A L R E P O R T

OF THE MANAGEMENT COMMITTEE

PRESENTED AT AN ANNUAL GENERAL MEETING

HELD AT THE COUNCIL HOUSE, PLYMOUTH

WEDNESDAY 12[TH] NOVEMBER 2025 AT 10.00 A.M.

SUPPORTED BY VOLUNTARY CONTRIBUTIONS

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SOUTH DEVON AND CORNWALL INSTITUTION FOR THE BLIND The Old Harbour Office, Guys Quay, Sutton Harbour, Plymouth

MANAGEMENT COMMITTEE

2024/2025

President and Chairman:

CLLR MRS M ASPINALL

Hon. Secretary:

MR EDWARD KEAST

MISS STEPHANIE ROBINSON

Auditors

NORTHCOTT TRUMFIELD Chartered Accountants Devonshire Villa, 52 Stuart Road, Stoke Plymouth, PL3 4EE

Bankers Investment Advisors

LLOYDS TSB BANK PLC CCLA Investment Management Limited Royal Parade CCLA Fund Manager Ltd, COIF Charity Funds Plymouth Senator House PL1 1HB 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

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 2023 - Councillor MRS MARY ASPINALL 2024 - Councillor MRS MARY ASPINALL

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165th ANNUAL GENERAL MEETING

OF THE

SOUTH DEVON & CORNWALL INSTITUTION FOR THE BLIND The Old Harbour Office, Guys Quay, Sutton Harbour, Plymouth Held at the Council House, Plymouth

Wednesday 12th November 2025 at 10.00 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 165th 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: Miss Stephanie Robinson was introduced as new Trustee who joined us on 30[th] July 2025, but existing Trustees are still actively looking to recruit new Trustees.

Election of Charity Trustees:

.

Existing members willing to stand for the ensuing year:-

Mr E Keast Cllr Mrs M Aspinall Miss S Robinson

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.

To read the names of members voted onto the committee as Trustees

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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. The officers were nominated at the last meeting dated 10[th] September 2025

President and Chairman Cllr Mrs M Aspinall

Secretary

Mr E Keast

Investment Policy

Any Other Business

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165TH ANNUAL GENERAL MEETING OF THE

SOUTH DEVON & CORNWALL INSTITUTION FOR THE BLIND

STONEHOUSE STREET, PLYMOUTH

MINUTES

Members Present :

Cllr Mrs M Aspinall Mr E Keast Miss S Robinson

No Apologies

Minutes : Minutes of the last Annual General Meeting having already been circulated were taken as read.

Accounts and Report

Election of Trustees and Officers:

The following were elected as Trustees and Officers.

CLLR MRS MARY ASPINALL

MEMBERS

Miss Stephanie Robinson

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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 10[th] September 2025 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 165[th] Annual Report for the year ending 31[st] March 2025

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 2025

Charity No. 202125

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS

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 2025 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: c/o Stratton Creber Commercial The Old Harbour Office Guys Quay Sutton Harbour Plymouth PL4 0ES

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(resigned 11 September 2024) Mr J. Ward Vice Chairman(resigned 2 May 2024)

1.4 Professional Advisers

Independent Examiners: Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road, Stoke Plymouth PL3 4EE Bankers: Lloyds 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

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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.

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TRUSTEES’ ANNUAL REPORT

4. Report of the Trustees for the year ended 31 March 2025

We continue to look for new trustees, as John Ward our Vice Chairman died on 25 May 2024 and Janet Steyn, our Treasurer resigned on 11 September 2024.

As in previous years, we continue to fund the Pension Scheme from our investments and the income from the rental of our premises.

The building continues to be managed by Stratton Creber who provide regular reports on the condition of the building and any necessary repairs are addressed.

The trustees agreed to send £40 Marks & Spencer vouchers to all our members as a Christmas gift this year.

We receive a number of 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 £34,907 and total payments £40,075 resulting in a deficit of £5,168. Cash funds at the year-end are £21,076. Total Net Assets were £904,319 (2025: £920,642) 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 £875,389 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 30 July 2025 and signed on its behalf by

Councillor M Aspinall

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 2025 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: 30 July 2025

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RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR TO 31 MARCH 2025


Receipts
Interest and dividends on deposits and
fixed investments
Tenant contribution to costs
Rental income


Total Receipts


Payments
Christmas gifts and donations
Premises
Pension scheme compliance costs

Administrator costs
Insurance
Legal and professional
General expenses
Total Payments


Net Receipts/(Payments)

Prepayment Adjustment
Cash Funds at 31 March 2024


Cash Funds at 31 March 2025
 Unrestri
cted

Fund
2025
£
37
4,124
30,746
34,907
1,040
-
27,915
2,900
4,124
3,680
416
40,075
(5,168)
6,747
32,991
21,076		 Unrestri
cted
Fund
2024
£

37

4,277
29,625
33,939

2,000
3,000
17,299

2,117

4,935

4,773

503
34,627

(688)

-
33,679
32,991

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STATEMENT OF ASSETS AND LIABILITIES AT 31 MARCH 2025

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

Signed on behalf of the Trustees on 30 July 2025
and signed on its behalf by:
Trustee:
Councillor M Aspinall
Trustee:
Mr E Keast		 Unrestri
cted

Funds

2025
£
19,658
512
628
278
21,076
7,405
550389
325000
875389
449
-
904319		 Unrestri
cted
Funds
2024
£
31,474

618

621

278
32,991

658
561544
325000
886544

449
-
920642

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1. Trustees' Remuneration

The trustees did not receive any remuneration or expenses in the year (2024 : nil).

2. Freehold Investment Property

This is re-valued at estimated market value by the trustees, following a professional valuation by Chartered Surveyors in May 2023, at £325,000.

3. Related Party Transactions

The insurance premiums are arranged by Ward Associates Insurance Brokers, of whom John Ward was the principal.

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