Registered Charity Number: 204279 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Insight Gloucestershire Louise Newman & Co Ltd 2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL
Insight Gloucestershire Contents of the Financial Statements For the year ended 31 March 2024 Page Reference and Administrative Details Report of the Trustees 2to13 Independent Examiner's Report 14to15 Statement of Financial Activities 16 Balance Sheet 17 Notes to the Financial Statements 18to25 Detailed Statement of Financial Activities 26to27 Page 2
Insight Gloucestershire Reference and Administrative Details For the year ended 31 March 2024 Charity number 204279 (England and Wales) Registered office 18 Albion Street Cheltenham GL52 2RZ Board of trustees: Trustees who served during the year and up to the date of this report were as follows: Ann Lightfoot {Chairl Tim Rice Michael Johnson Elizabeth Bristow Louise Simmonds {Secretary) Sammy Rosser (Resigned June 2023) Hazel Holland (Resigned Nov 2023} General Manager Steve Martin {Retired May 2023) Independent examiners Louise Newman & Co Ltd 2 Bath Mews Bath Parade Cheltenham GL53 7HL Page 3
Insight Gloucestershire Report of the Trustees For the year ended 31 March 2024 The trustees present their report and the financial statements for the year ended 31 March 2024 and also wish to express their sincere thanks to all staff and volunteers for their hard work over the past year. Reference and administrative information set out on page I forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice- Accounting and Reporting by Charities (effective from January 2019). About Insight Gloucestershire The charitable object of Insight Gloucestershire is to promote the relief of sight impaired people within Gloucestershire. The charity was formerly known as the Gloucestershire County Association for the Blind and changed its name in 2013. Insight Gloucestershire provides timely and appropriate support services for all people affected by sight loss in Gloucestershire, along with their families and friends. Our aim is to ensure people with sight impairment in the county are able to lead active, independent and fulfilled lives. We work with people affected by sight impairment to help them navigate the often-complex provision of services, joining up health, social care and community services. Our agreed organisational objectives are: To ensure all people with sight impairment in Gloucestershire (and their family and friends) know where they can find support relevant to their personal situation. Page 4
To provide a range of good quality, high impact services driven by the voice and needs of our clients. To build a strong and sustainable organisation which adds real value, can demonstrate its impact and has the confidence of the people and organisations we work with. Review of the year This year has been one of significant change for Insight Gloucestershire. In May, our General Manager, Steve Martin, retired after many years at the charity. In light of the Board's concerns over recent years about the financial sustainability of the charity, the trustees took the opportunity of Steve's retirement to explore new options for the future. In July, a new partnership was put in place with Sight Support West of England, a neighbouring sight loss charity working in Bristol, South Glos and Bath & N-E Somerset. The partnership agreement sees Insight join with Sight Support and another local charity, Wiltshire Sight, in operating a joint management model, sharing costs, learning and efficiencies. As a result of the new partnership, July to December saw significant changes to Insight's operations. Our policies and procedures were reviewed and updated to ensure our services are both compliant and reflecting best practice. We moved our finances over from a predominantly paper-based system to a new online system, which enables us to record and reconcile all transactions quickly and produce effective management reports. We introduced a new Client Management System, alongside a new Sight Loss Assessment Framework to guide our work with our clients and provide impact data to inform our service development. We launched a new website in November, which includes the ability to take donations online, and Started work on a 10-year funding strategy. In January our Community Sight Loss team moved to a community- based model, opening more hubs across the county where clients can Page 5
access services and peer support. We revamped our volunteer recruitment and training procedures in late 2023, and focussed our recruitment on volunteers who can help support the new hubs and social groups, Throughout all this change, the Insight team have continued to provide emotional and practical support to clients on a daily basis, alongside running social groups, theatre trips and lunch clubs in Cheltenham and Gloucester. We have had some good fundraising successes over the past year; continuing to bring in grant funding to support our core operations, and starting to implement fundraising activities to build other income streams over the coming years. Overall, the year has not been easy, with many changes needed, and we have sadly lost some long-standing staff members. However, we still have a dedicated team in place, excited for the future and embracing a new way of working. We are delighted with the changes we have put in place so far this year and are confident that the charity has an exciting few years ahead as we continue our development. During the year we learnt of the sad passing of Hazel Holland, who was a long-time supporter of the charity and a member of the Board of Trustees for many years. Hazel will be remembered as a hugely valued and highly regarded member of the team. Specific progress against the key objectives we set ourselves for 23-24 is summarised below: Increase the reach of our services through the development of hubs across the county where people with sight loss can access local information, advice and guidance. In January 2024 we opened six new monthly hubs in Bishops Cleeve, Bourton-on-the-water, Chipping Campden, Cirencester, Dursley and Tewkesbury. Alongside our exiting hubs in Gloucester, Moreton-in- Marsh and Stroud, and our resource centre in Cheltenham, we now Page 6
have 10 locations across the country where people can access advice and guidance from our Community Sight loss Team. Expand our provision of social opportunities for people with sight Ios5 to help reduce the risk of isolation; Alongside each of the advice hubs listed above, we are also running social groups, providing access to peer support for people with sight loss in 10 locations. Supported by local volunteers, these groups provide a lifeline for many who are struggling with the emotional impact of losing their sight. Develop our monitoring and evaluation systems to enable us to better measure the outcomes and impact of our work on the lives of our clients; In October 2023 we moved our client data onto a new bespoke Client Management System, built around the Sight Loss Assessment Framework which was provided to us by Sight Support West of England. The new system will enable us to track clients, progress working with us, enabling us to report back on outcomes and impact of our work. As it will take time to build up the volume of data, we expect to be able to produce outcome reports from the end of 2024. Explore opportunities for closer working with other local sight loss charities, to help improve our fundraising capacity, reduce our central costs and increase the exchange of key learning and good practice. As outlined above, in July 2023 we joined forces with Sight Support West of England and Wiltshire Sight, Our new partnership model has already had huge benefits in terms of increased fundraising capacity and reduced central costs. The partnership has also enabled us to update our policies, procedures and systems which were in need of attention, and to introduce best practice tools such as the Sight Loss Assessment Framework. Page 7
We are confident that this model of partnership working will continue to have huge benefits for the charity, and in turn for people with sight impairment across the county. Plans for the Future Our key development priorities for the 2024-25 year include: Review geographic reach of our hubs in Gloucestershire and develop a plan to cover underserved areas. Ensure all community hubs run effectively and are supported by local volunteers. Continue work to integrate the teams and cultures of Insight, Sight Support and Wiltshire Sight to maximise our effectiveness, share our learning and reduce costs. Grow awareness of our charity as the local charity of choice within our community through increased attendance at community events and an increased focus on PR through traditional media channels; Further develop our fundraising income streams, including active promotion of legacy giving, and development of sponsored fundraising events. Review our premises in Cheltenham and explore the possibilities of opening retail outlets in Gloucestershire to provide a new stream of unrestricted income. Financial Review Income and expenditure for 2023/24 were in line with the budget set for the year by the Board, A new funding strategy has been developed and will be approved by the Board in mid-2024. This strategy lays out how the charity will develop and diversify its income streams over the next ten years, under the guidance of Sight Support West of England. Alongside the new model of joint working which 15 reaping benefits in terms of shared management, fundraising and overhead costs, the trustees are now confident that the Page 8
charity is back on a sustainable footing. For the reasons given, The Board of Trustees continues to adopt the going concern basis in preparing the financial statements. Charitable Funders and Supporters Insight Gloucestershire wishes to thank all its charitable funders and supporters, listed below for the year April 2023 - March 2024. As an independent charity we rely on the generosity of our supporters and the local community. Without their support we would not be able to deliver any of our valuable work providing local support for blind and partially sighted people in communities across Gloucestershire: Anton Jurgens Foundation The Barnwood Trust Lennox Hannay Charitable Trust The National Lottery Community Fund D.G. Albright Charitable Trust Douglas Arter Foundation Evans Adlard Charitable Trust NISA Making a Difference Locally Rausing Trust Renishaw plc Rockliffe Charitable Trust Gloucestershire County Council Gloucestershire Disability Fund Inman Trust Gardners Trust James Tudor Foundation Sue Gore and familv Sumrnerfield Charitable Trust Kevin Tait Opticians, Moreton-in -marsh Tewkesbury Town Council Thomas Pocklington Trust Ulverscroft Foundation Chapman Opticians, Cheltenham Langtree Trust Leckhampton Parish Council Reserves policy Total funds held at 31 March 2024 were £307,191, of which £33,655 to be were restricted in accordance with the donors, wishes. A further £88,892 of unrestricted reserves are tied up in the capital assets of the charity, namely the building in Cheltenham. Page 9
Our current level of unrestricted free reserves is therefore £184,644. The Trustees are particularly aware of the need to take certain factors into account to cover fluctuations in income (principally legacies), current liabilities and unplanned expenditure. The target amount for contingency set by the charity is therefore six months, operating costs, plus an amount of £50,000 to cover building repairs, and £10,000 for redundancy liability for longstanding employees. The level of free reserves is currently at the right level to meet these three potential liabilities. The level of reserves has been set by the Board of Insight Gloucestershire taking into account the following: The smooth running of the charity, and the provision of core services to sight impaired clients, needs to be maintained. Funds should be available to continue to subsidise the provision of core services until alternative sources of funding can be found. If the charity were to close it would take a minimum of six months to find alternative and equivalent sources of support for our sight impaired clients across Gloucestershire. Funding should be available to deal with the contingencies which might arise in the day to day running of the organisation, including significant repairs to our building in Cheltenham which is showing signs of age. A number of costs would be associated with dissolution of the charity. Structure, Governance and Management Insight Gloucestershire is a registered charity, controlled by its governing document, a constitution, last amended in September 2013. The organisation is governed by a Board of Trustees. The Trustees do not receive any remuneration for their services to the charity. In the event of the charity being wound up, the trustees have no liability to contribute to its assets. Day-to-day management of the charity is delegated to the CEO and management team of Sight Support West of England under a rolling Page 10
contract which is reviewed annually. The CEO of Sight Support reports formally to the Insight Board of Trustees every two months. Related Parties There were no material related party transactions with trustees or senior management. Risk management and delegation The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate systems and controls are in place in order to mitigate those risks and to provide reasonable assurance against fraud and error. During the year the trustees have considered the major risks and systems have been put in place to mitigate their impact. The risk analysis is discussed at every other Board meeting, and a full review takes place annually. The charity has a Schedule of Delegation in place which defines which decisions are taken by the Board of Trustees and which are delegated to the operational management team of Sight Support West of England. The Schedule is reviewed annually and covers areas of strategy, risk management, legal obligations, organisational policies and procedures, variations to agreed budget and strategic use of reserves. Public Benefit The Board of Trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity. Statement of Responsibilities of the Trustees The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in England and Wales requires the trustees Page 11
to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to.. Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the applicable Charities SORP,. Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees 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. The trustees are responsible for the maintenance and integrity of the corporate financial information included on the charity's webslte. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights, The trustees have no beneficial interest in the charity. Page 12
Independent examiners Louise Newman & Co Ltd were re-appointed as the charitable company's independent examiners during the year and has expressed their willingness to continue to act in that capacity. Approved by the trustees on 24th September 2024 and signed on their behalf by Ann Lightfoot Chair of Trustees 24th September 2024 Page 13
Insight Gloucestershire Independent Examiner's Report to the Trustees For the year ended 31 March 2024 I report to the charity trustees on my examination of the accounts of Insight Gloucestershire for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my Examination, I have followed all applicable Directions given by the Charity Commission under section 145(5)Ib} 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: accounting records were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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. Louise Newman ACCA Louise Newman & Co Ltd Page 14
2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL Date: Page 15
Insight Gloucestershire Statement of Financial Activities For the year ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund fund Notes Incoming Resources Donations And Legacies Other Trading Activities Investment Income 60,157 16,745 128,144 188,301 16,745 217,956 25,311 Total Incoming Resources 128 144 211063 249 532 Resources Expended Raising Funds 8,550 16,596 25,146 22,743 Charitable Activities Support for people with sight loss Governance costs 127,564 77,893 205,457 222,695 Total Resources Expended 137,577 94,489 232,066 246,576 Net Gain/ (Losses) on Investments 11,5051 11,5051 120,376) Net Income / Expenditure 156,163) 33,655 122,5081 117,4201 Total Funds Brought Forward 329 699 329 699 347 119 Total Funds Carried Forward 273 536 307 191 329 The notes form part of these financial statements Page 16
Insight Gloucestershire Balance Sheet For the year ended 31 March 2024 31,3.24 31.3.23 Total Tota I funds funds Unrestricted Restricted funds funds Notes Fixed Assets Tangible Assets Investments 88,892 88,892 88,892 74 337 150 256 163,229 239,148 163,229 Current Assets Stock Debtors Prepayment and Accrued Income Cash At Bank 3,696 1,946 1,349 106 468 113,459 3,696 1,946 1,349 140 123 147,114 2,334 3,685 33,655 94,233 Creditors Amounts Falling Due within One Year 10 {3,1521 13,1521 {3,683) Net Current Assets 110 307 143 962 Total Assets Less Current Liabilities 273,536 33,655 307,191 329,699 Net Assets 273 536 329 699 Funds Unrestricted Funds Restricted funds 11 273,536 329,699 Total Funds 307,191 329,699 The financial statements were approved by the Board of Trustees and authorised for th issue on 24 September 2024 and were signed on its behalf by.. Ann Lightfoot Chair of Trustees The notes form part of these financial statements Page 17
Insight Gloucestershire Notes to the Financial Statements For the year ended 31 March 2024 Accounting Policies Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statefflents have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings IOO/o on cost Stocks Stocks are valued at the lower of c05t and net realisable value, after making due allowance for obsolete and slow-moving items. Page 18
Insight Gloucestershire Notes to the Financial Statements For the year ended 31 March 2024 Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes Wlthin the objects of the charity. Restrictions arise when specified bythe donororwhen funds are raised for particu lar restricted pu rposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 19
Insight Gloucestershire Notes to the Financial Statements (continued) For the year ended 31 March 2024 Other Trading Activities 31.3.24 31.3.23 200 Club Equipment Sales 378 1,706 Investment Income 31,3.24 31.3.23 Investment Income Trustees, Remuneration and Benefits There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 5. Comparatives for the Statement of Financial Activities (2022123) Un restricted Restricted funds funds Total funds INCOME Donations and legacies Other trading activities Investment income 133,104 25,311 84,852 217,956 25,311 Total 164,680 84,852 249,532 Page 20
Insight Gloucestershire Notes to the Financial Statements (continued) For the year ended 31 March 2024 5. Comparatives for the Statement of Financial Activities {2022123I - continued EXPENDITURE ON Raising funds 39,598 39,598 Charitable activities Support Governance 205,840 1,138 205,840 1,138 Total 246,576 246,576 Net gains/1I0ssesl on investments {20,3761 (20,3761 NET INCOME/{EXPENDITURE) (102,2721 84,852 117,4201 Transfers between funds 84,852 184,852) Net movement in funds 117,420} 117,4201 Total funds brought forward 347 119 347 119 TOTAL FUNDS CARRIED FORWARD 329 699 329 699 Tangible Fixed Assets Freehold property COST At l April 2023 and 31 March 2024 88,892 NET BOOK VALUE At 31 March 2024 88,892 At 31 March 2023 88,892 Page 21
Insight Gloucestershire Notes to the Financial Statements (continued) For the year ended 31 March 2024 Fixed Asset Investments Listed investments Market Value At l April 2023 Disposals Revaluations 44,657 179,5571 At 31 March 2024 Provisions At 31 March 2023 Revaluation adjustments 15,6001 At 31 March 2024 18,174) Net Book Value At 31 March 2024 74,337 At 31 March 2023 150,257 There were no investment assets outside the UK. Stocks 31.3.24 31.3.23 Finished goods 3,696 2,334 Debtors: Amounts Falling Due Within One Year 31.3.24 31.3.23 Trade debtors 1,946 Page 22
Insight Gloucestershire Notes to the Financlal Statements (continued) For the year ended 31 March 2024 10. Creditors: Amounts Falling Due Within One Year 31.3.24 31.3.23 Trade Creditors Social Security and other Taxes Other creditors 1,618 1,534 2,830 853 3,152 3,683 11. Movement In Funds Net At 1.4.23 movement in funds At 31.3.24 Unrestricted funds General fund 329,699 (56,1631 273,536 Restricted funds Restricted 33,655 33,655 Total Funds 329 699 Net movement in funds, included in the above are as follows: Incoming Resources Gains and Movement resources expended losses in funds Unrestricted funds General fund 82,919 1137,577) 11,505) 156,1631 Restricted funds Restricted 128,144 194,4891 33,655 Total Funds 211,063 1232,066) 11,5051 122,508) Page 23
Insight Gloucestershire Notes to the Financial Statements (continued) For the year ended 31 March 2024 11. Movement In Funds- continued Comparatives for movement in funds At 1.4.22 Net Transfers At 31.3.23 movement between in funds funds Unrestricted funds General fund 347,119 (102,2721 84,852 329,699 Restricted funds Restricted 84 852 TOTAL FUNDS 347 119 Comparative net movement in funds, included in the above are as follows.. Incoming Resources Gains and Movement resources expended losses in funds Unrestricted funds General fund 164,680 1246,5761 120,376) (102,2721 Restricted funds Restricted {16,596) Total Funds 246 76 420 249 532 LLI LLJ Page 24
Insight Gloucestershire Notes to the Financial Statements {continued) For the year ended 31 March 2024 11. Movement In Funds- continued A current year 12 months and prior year 12 months combined position is as follows.. At Net Transfers At 1.4.22 movement between 31.3.24 in funds funds Unrestricted funds General fund 347,119 1158,435} 84,852 273,536 Restricted funds Restricted 118 507 TOTAL FUNDS 307 191 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming Resources Gains and Movement resources expended losses in funds Unrestricted funds General fund 247,599 1384,1531 {21,881} (158,4351 Restricted funds Restricted 212 996 118 507 Total Funds 478 642 12. Related Party Disclosures There were no related party transactions forthe year ended 31 March 2024. Page 25
Insight Gloucestershire Detailed Statement of Financial Activities For the year ended 31 March 2024 31.3.24 31.3.23 Income and Endowments Donations and Legacies Donations Gift aid Legacies Grants 20,182 20,208 1,3SI 80,000 116 397 217,956 11,740 156 379 188,301 Other Trading activities Equipment Sales 200 Club 16,367 378 16,745 23,605 25,311 Investment Income Total incoming resources 211,063 249,532 Resources Expended Raising Funds Staff sa laries 200 Club Fundraising costs 16,596 315 22,353 390 25,146 22,743 Charitable Activities Staff sa la ries National insurance Pensions Recruitment Staff Training Rates and water Insurance Light and Heat 82,466 145,684 2,377 8,115 2,780 4,585 534 324 3,694 4,198 4,737 494 2,244 3,274 This page does not form part of the statutory financial statements Page 26
Insight Gloucestershire Detailed Statement of Financial Activities - continued For the year ended 31 March 2024 Telephone Postage and stationery Sundries Bank charges Subscriptions Property Maintenance IT costs Staff travel Redundancy costs Venue Hire Low vision equipment Marketing and website Grants to other organisations 1,581 3,906 451 625 214 6,681 15,228 889 9,403 1,066 13,165 888 1,882 2,084 1,684 683 40 16,137 18,934 16,855 205,457 222,695 Governance costs Accountancy fees Total resources expended 232,066 246.576 Net income before gains and losses {21,0031 2,956 Realised recognised gains and losses Rea lised ga ins/1 losses) on fixed asset investments Net expenditure {22,508) 117,4201 This page doe5 not form part of the statutory financial statements Page 27