HUNTINGDONSHIRE SOCIETY FOR THE BLIND
ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
Report by Honorary Treasurer
INTRODUCTION
I have pleasure in enclosing the accounts of the Society for the year ended 31 March 2021.
2020/21 has been an unusual year in that many of The Society’s activities, particular trading, only functioned for a very limited time during the financial year. It is therefore of very little use to compare many of the previous year’s figures with those for 2020/21.
I have however summarised below, the main headings that have been affected by the Covid 19 Lockdown.
| Activity | Minus Impact £ | Plus Impact £ |
|---|---|---|
| Reduced Income from Shop Sales | 9,732 | |
| Reduced Outreach Workers Travelling Costs | 3,529 | |
| Reduced Volunteers Expenses | 2,380 | |
| Increase in Donations | 14,350 | |
| Reduction in Fundraising (Net) | 9,976 | |
| Government Covid 19 Grant | 19,907 | |
| TOTALS | £19,708 | £40,166 |
The net difference from the table above amounts to £20,458. There are many other small differences between years, but the above summary is a true reflection of the main differences. The final accounts for 2020/21 shows a surplus of £21,707.
STATEMENT OF FINANCIAL ACTIVITIES
The Charity Commissioners require the Society Accounts to be prepared and presented in a prescribed manner. Part of these requirements includes the production of a Statement of Financial Activities for the year.
This statement appears at the first page of the Annual Accounts and shows the financial activities of the Society under the headings required by the Charity Commissioners.
FUND ACCOUNTS
The Capital element of these funds has been adjusted to include a valuation of the Capital Holding as at 31 March 2021.This year it has resulted in an overall increase of £308,709 in the valuations.
The key issue for the Society’s finances is the actual interest earned each year on these investments. Despite low interest rate returns nationally, the Income from Investments continues to be maintained at or above the previous year’s level.
HOLIDAY FUND
Capital
The revaluation exercise has resulted in an increase of £23,374 to a new value of £136,485.
Income
Investment income amounted to £3,986. As the 2020 holiday was cancelled, there were only small amounts of Income and Expenditure and the balance on this fund increased to £18,675 as there was no requirement to subsidise any holiday due to the cancellation.
WOODWARD BEQUEST
Capital
The revaluation of the investment has resulted in an increase of £73,118 to a new valuation of £426,955
Income
Investment income produced £12,470, being a small increase when compared to the previous year.
Expenditure
The accounts show a transfer of £10,000 to the Outreach Account in respect of the contribution towards the cost of a third Outreach Worker.
Summary
The combined Capital and Revenue balance carried forward is £443,090
OUTREACH ACCOUNT
The deficit on this account reduced by £6,090 to a new figure of £3,529, due mainly to the two items of reduced expenditure set out within the table at the start of this report.
The sum of £10,000 was transferred into this account from the Woodward Bequest Account by way of a contribution to the cost of a third Outreach worker.
CLUB FUNDS
Although any balances held on behalf of the clubs is still retained in the overall accounts of the Society, an information note has been added to the accounts to reflect the total of the year end balances held.
VOLUNTARY FUND
The main variations to this section, when compared to the previous year are again set out in the table at the start of this report. The total surplus for the year is recorded as £42,151.
BALANCE SHEET
General
The total assets have increased during the year by £336,734 to £2,310,238
General Investments
No changes are recorded during the year to the Charity Commissions General Stock holding.
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Current Assets
No major changes to the current assets.
CONCLUSIONS
The recorded surplus for the year amounting to £21,707 is, under the current restrictions, a very pleasing outcome, due mainly to very generous donations received during the year and the Governments Covid 19 Grants.
AUDIT CERTIFICATE
The appropriate Certificate has been received from the Society Auditors and is attached as the final page of the accounts.
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STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDING 31 MARCH 2021 Un-
| Income Resources Donations, Legacies and Similar Income Operating Activities Summer Holidays Outreach Grants Other trading activities Charity Shop Sale of Blind Aids Fund Raising Property Rental Income from investments Resources Expended Expenditure on raising funds Charity Shop Blind Aids Fund Raising Expenses Net Income Available for Charitable Application Expenditure on Charitable activities Summer Holidays Member Services Support Costs Management and Administration Net Income/(expenditure) Net Gains/Losses on Revaluation :~ - Investments Sundry Creditor Adjustment Property Revaluation Net Movement in Funds for Year Funds Brought Forward Funds Carried Forward |
Un- Restricted Restricted 2020/21 Funds Funds Total £ £ £ 46,403.34 46,403.34 1,260.00 1,260.00 33,000.00 33,000.00 2,641.96 2,641.96 3,264.68 3,264.68 3,729.96 3,729.96 6,200.76 6,200.76 52,052.71 845.78 52,898.49 148,553.41 845.78 149,399.19 18,874.02 18,874.02 3,960.97 3,960.97 1,019.00 1,019.00 23,853.99 23,853.99 124,699.42 845.78 125,545.20 1,400.00 1,400.00 53,123.06 845.78 53,968.84 11,533.01 11,533.01 30,618.74 30,618.74 96,674.81 845.78 97,520.59 28,024.61 28,024.61 303,750.28 4,959.06 308,709.34 0.00 0.00 0 0 331,774.89 4,959.06 336,733.95 1,949,505.92 23,997.99 1,973,503.91 2,281,280.81 28,957.05 2,310,237.86 |
Un- Restricted Restricted 2019/20 Funds Funds Total £ £ £ 41,141.35 41,141.35 3,891.00 3,891.00 33,000.00 33,000.00 12,374.13 12,374.13 6,050.04 6,050.04 16,218.38 16,218.38 6,915.75 6,915.75 50,862.88 829.15 51,692.03 |
|---|---|---|
| 170,453.53 829.15 171,282.68 |
||
| 19,095.81 19,095.81 5,227.27 5,227.27 3,531.16 3,531.16 |
||
| 27,854.24 0.00 27,854.24 |
||
| 142,599.29 829.15 143,428.44 |
||
| 4,430.90 4,430.90 59,872.92 829.15 60,702.07 10,780.10 10,780.10 31,785.55 31,785.55 |
||
| 106,869.47 829.15 107,698.62 |
||
| 35,729.82 35,729.82 -49,848.38 -784.73 -50,633.11 0.00 0.00 0.00 0.00 0.00 0.00 |
||
| -14,118.56 -784.73 -14,903.29 1,963,624.48 24,782.72 1,988,407.20 |
||
| 1,949,505.92 23,997.99 1,973,503.91 |
, L#L'I Iyjre 15 Station Road St Ives Cambridgeshire PE27 5BH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HUNTINGDONSHIRE SOCIETY FOR THE BLIND We have audited the fTnancial statements of Huntingdon Society for the Blind for the year ended 31 March 2021, which comprise the Balance Sheet and Profit and L05s Account and the related notes. The financial reporting f ramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel- Opinion on financial statement5 In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2021, and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Charitie5 Act 2011. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirement5 that are relevant to our audlt of the financial statement5 in the UK, including the FRC'S Ethical Standard [, and the provi5ion5 available for small entitie5, in the circumstances set out in note [X] to the financial statementsl, and we have fulfilled our other ethical responsibilitie5 in accordance with these reqLJirernents. 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 We have nothing to report in respect of the following matters in relation to which the ISA5 (UK} require us to report to you where: the trustees, use of the going concern ba515 of accounting in the preparation of the financial 5tatement5 15 not appropriate; or the trustees have r*ot disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the fTnancial statements and our auditor's report thereon. Our oplnion on the financial statement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expre55 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 incon515tent with the financial statement5 or our knowledge obtained in the audit or otherwise appear5 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there 15 a rnaterial mi5Statement in the financial statements or a material mi5Staternent 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. Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Annual Report. We have nothing to report in respect of the following matters in relation to which the Charitie5 Act 2011 requires us to report to you if, in our opinion.. sufficient accounting records have not been kept. the financial statements are not in agreement with the accounting records and return5. or we have not obtained all the information and explanations necessary for the purposes of our audit. Responslblllties of the trustees As explained more fully in the trustees, responsibilities statement [set out on page ...], the trustees 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 they determine 15 necessary to enable the preparation of financial Statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations. or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statement5 as whole are free from material migstatement, whether due to fraud or error, and to 155ue an auditor's report that include5 our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 user5 taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements Is located on the Financial Reporting Council's web51te at.. www.frc.org.uk/auditorsresponsibilitie5. This description forms part of our auditor's report. Use of our report This report is made 501ely to the Charity's trustees, as a body, in accordance with section 144. of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assume responsibility to anyone other than the Charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ter Matthew Barlow (Senior Statutory Auditorl or and on behalf of Thoma5 Quinn Statutory Auditors Dated: