## **Action for Blind People**
# **Annual Report and Financial Statements for the year ended 31 March 2023**
Registered charity numbers: 205913 (England and Wales) SC040050 (Scotland) 1203 (Isle of Man)
Company numbers: 00026688 (United Kingdom) 006012F (Isle of Man)
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Action for Blind People annual report and financial statements for the year ended 31 March 2023**
## **Trustees’ Report**
The Trustees, who are also directors of Action for Blind People (“Action”) present their annual report and audited financial statements for the year ended 31 March 2023 in compliance with the Companies Act 2006, the Charities Act 2011, Action’s governing document and the Statement of Recommended Practice - Accounting and Reporting by Charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 01 January 2019). The Reference and Administrative Details also form part of this report.
In accordance with the small company exemptions in the Companies Act 2006, the Trustees have limited their report and not produced a strategic report.
## **Structure and governance**
## **(a) Structure**
Action is a charitable private company limited by guarantee. It was founded in 1857 and was incorporated as a company in 1888. It is governed by Memorandum and Articles of Association.
A Deed of Transfer between Action and Royal National Institute of Blind People (RNIB) was agreed in March 2017 and 1 April 2017 saw the transfer of the majority of all activities, people, assets and liabilities to RNIB Group. The aim of the reorganisation is to better enable RNIB to provide support and services to all its beneficiaries and to reduce the cost and administrative burden of operating separate charities.
Action remains as a non-operational entity and the former Action Board resolved to amend its Articles of Association to reflect a Board comprising of a minimum of three Trustees from 1 April 2017. During the year, income and expenditure related to donors linked to Action has been recognised within the charity. At the time of signing the financial statements the three Action Trustees in position are Alice Collins, Martin Stuart Davidson and Amanda Rowland all of whom also sit on the RNIB Board. RNIB is the sole corporate member of Action and appoints all Action Trustees to oversee the remaining business of the charity.
1
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Trustees’ Report (continued)**
## **Structure and governance (continued)**
## **(a) Structure (continued)**
## **Statement of Trustees’ responsibilities**
The Trustees (who are also directors of Action for Blind People for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulation.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business[.]
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **(b) Board**
Three Trustees currently sit on the Board of Trustees. Further details are in the ‘Reference and Administrative details’ section on page 21.
Each Trustee undertook an induction that included meetings with the Chair, Chief Executive and other senior members of the executive team of the RNIB Group.
2
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Trustees’ Report (continued)**
## **Structure and governance (continued)**
## **(b) Board (continued)**
Trustees do not exercise a management function but are encouraged to familiarise themselves with areas of particular interest through close involvement with the management and staff and users of the charity’s services. Trustees give their time freely and no remuneration is paid, except for direct reimbursement of travel, accommodation and subsistence expenses where necessary.
The RNIB Group has four main Board meetings per year, in addition to which Trustees attend other meetings including regular Committee meetings, up to two Away Days each year, training sessions (for example, annual Safeguarding Training, Diversity & Inclusion Training etc) and other sessions as necessary throughout the year.
Trustees are generally appointed for a term of three years, renewable once up to a maximum of six years, with a possibility of being appointed for further year-long terms in exceptional circumstances up to a maximum of nine consecutive years. Trustees wishing to be reappointed for a second term of office will meet with the Chair and Vice Chair to appraise their performance, obtaining feedback from other Trustees, and make a recommendation to the Board as to whether they should be appointed for a new term. In addition, each Trustee meets with the Chair annually to discuss their performance and needs and identify objectives, with the Chair’s review being conducted by the Vice Chair.
The charity has purchased indemnity insurance with regard to Trustees to cover liability in respect of negligence, default and breach of duty or trust other than that caused by wilful or criminal damage.
The RNIB Group Audit, Risk and Assurance Committee (whose remit includes Action) operates under specific terms of reference, which delegate certain audit related functions from the Board. It meets at least three times a year and its decisions are ratified by the full RNIB Group Board.
Each Action Trustee also maintains oversight through their Trustee position on the RNIB Board.
3
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Trustees’ Report (continued)**
## **Public benefit**
The Trustees confirm that they have complied with the duty in section 17 of the Charity Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charitable Purposes and Public Benefit”.
## **Risk management**
The risk management process is handled by RNIB on behalf of the Trustees. Trustees are confident that appropriate mitigation measures and controls are in place for the key group risks which are Finance, Strategy, Planning and Delivery, People, External Environment, Safeguarding and Regulatory risk and Technology, data and digital. More can be found on the risks and mitigations within the RNIB financial statements.
## **Objectives, Activities, and Performance**
Action exists as a shell charity to receive donations and legacies, which will be transferred to RNIB for use in the promotion of services in the United Kingdom.
## **Financial review**
Action transferred all its operations, assets and liabilities to RNIB on 1 April 2017. It was not operational in 2022/2023 and the donations and legacies it received, subject to any specific restrictions, transferred to RNIB as the sole member.
Income of £3,414k (2022: £3,714k) from donors linked to Action has been recognised in the charity during the year, along with legacy income of negative £118K (2022: £3,324k). Action is recognising a gift of £3,286k (2022: £7,030k) to its parent charity RNIB in accordance with the 2017 Deed of Transfer.
Action’s operational activities are undertaken by RNIB and therefore the Statement of Financial Activities includes no substantive operational costs. Income received has been credited to the appropriate income category in the SoFA and then gifted to RNIB for use in the promotion of services in United Kingdom.
There is a more detailed analysis of income and expenditure in notes 2 to 9 of the financial statements.
4
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Trustees’ Report (continued)**
## **Reserves policy**
As at 31 March 2023 Action has no need for reserves and exists only to raise income, which is then transferred to RNIB, once costs are deducted.
## **Statement of policy on fundraising**
Section 162a of the Charities Act 2011 requires us to make a statement regarding fundraising activities because we have an external audit. We do not undertake any fundraising activities, under the terms of the Association Agreement with RNIB, with effect from 1 April 2009 (revised in July 2014 and September 2015), RNIB assumed responsibility for fundraising on behalf of Action.
We do not use professional fundraisers or commercial participators or, indeed, any third parties to solicit donations. We are therefore not subject to any regulatory scheme or relevant codes of practice; nor have we received any complaints in relation to fundraising activities nor do we consider it necessary to design specific procedures to monitor such activities.
## **Provision of information to auditors**
Each of the persons who are a Trustee at the date of approval of this report confirms that:
- so far as the Trustees are aware, there is no relevant audit information of which the charitable company's auditors are unaware; and
- each Trustee has taken all the steps that he/she ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of Section 418 of the Companies Act 2006.
The Trustees’ report including the strategic report was approved by the Board of Trustees and authorised for issue 7 September 2023.
Signed on behalf of the Board
**Alice Collins, Trustee 19/10/2023**
5
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF ACTION FOR BLIND PEOPLE**
## **Opinion on the financial statements**
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 2023 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006, as amended.
We have audited the financial statements of Action for Blind People (“the Charitable Company”) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, 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, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## _Independence_
We remain independent of the Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
6
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Conclusions related to going concern**
In auditing the financial statements, we have concluded that the Trustees’ 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 Charitable Company'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 Trustees 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 Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on 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 themselves. 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.
## **Other Companies Act 2006 reporting**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report, which includes the Directors’ Report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors’ Report, which is included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.
7
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Trustee’s report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 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 branches not visited by us; or
- the 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 explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
## **Responsibilities of Trustees**
As explained more fully in the Statement of Trustees’ responsibilities, the Trustees (who are also the directors of the charitable company for the purposes 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 determines is 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 Charitable Company’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 Charitable Company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
8
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our 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.
_Extent to which the audit was capable of detecting irregularities, including fraud_
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:
_Non-compliance with laws and regulations_
Based on:
- Our understanding of the Charitable Company and the sector in which it operates;
- Discussion with management and those charged with governance;
- Obtaining and understanding of the Charitable Company’s policies and procedures regarding compliance with laws and regulations; and
we considered the significant laws and regulations to be the Companies Act 2006 and the Charities Act 2011.
The Charitable Company is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be employment law, data protection and health and safety legislation.
Our procedures in respect of the above included:
- Review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
- Review of correspondence with regulatory and tax authorities for any instances of non-compliance with laws and regulations;
- Review of financial statement disclosures and agreeing to supporting documentation;
- Involvement of tax specialists in the audit;
- Review of legal expenditure accounts to understand the nature of expenditure incurred; and
9
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
- Discussion with management, including consideration of known or suspected instances of non-compliance with laws and regulations.
## _Fraud_
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:
- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- Obtaining an understanding of the Charitable Company’s policies and procedures relating to:
- Detecting and responding to the risks of fraud; and
- Internal controls established to mitigate risks related to fraud.
- Review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;
- Discussion amongst the engagement team as to how and where fraud might occur in the financial statements;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
- Assessing the design and operating effectiveness of controls and procedures relevant to the preparation of the financial statements and the detection and prevention of irregularities and fraud, including changes to supplier bank details.
Based on our risk assessment, we considered the areas most susceptible to fraud to be management override and revenue recognition.
Our procedures in respect of the above included:
- Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;
- Assessing significant estimates made by management for bias, including the legacy accrual, 5% estimate of legal fees in legacies, allocation of costs, impairment of assets, and calculation of provisions;
- Procedures to verify the completeness of donation and legacy income, as well as the completeness and valuation of the year end legacy accrual; and
- Reviewing reconciliations for donation income in the year, matching income per third party sources, bank and the general ledger.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or
10
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitable Company’s trustees, as a body, in accordance with the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charitable Company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Jill Halford (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Baker Street, London
24 October 2023
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
11
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Statement of financial activities for the year ended 31 March 2023 (incorporating an income and expenditure account)**
|**Notes**
**Income**
**from**
Donations
Legacies
**Total**
**income**
**Expenditure**
Governance
costs
2
**Total**
**expenditure**
2
Net income
before gift to
RNIB
Gift to RNIB
**Net**
**expenditure**
**after gift to**
**RNIB**
Total funds
brought
forward
**Total funds**
**carried**
**forward**|
**Unrestrict**
**ed Funds**
**£’000**
**Restricted**
**Funds**
**£’000**
**Total**
**2023**
**£’000**
**Unrestri**
**cted**
**Funds**
**£’000**
**Restricted**
**Funds**
**£’000**
**Total**
**2022**
**£’000**
**3,414**
**- 3,414**
3,714
- 3,714
**(161)**
**43**
**(118)**
3,317
7 3,324|
|---|---|
||**3,253**
**43 3,296**
7,031
7 7,038|
||**10**
**-**
**10**
8
-
8|
||**10**
**-**
**10**
8
-
8|
|||
||3,243
43
**3,286**
(7,023)
7
**7,030**
(3,243)
(43)
**(3,286)**
(7,023)
(7)
**(7,030)**|
||-
**-**
**-**
-
**-**
**-**
-
-
**-**
-
-
-|
||**-**
**-**
**-**
**-**
**-**
**-**|
12
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Statement of financial activities for the year ended 31 March 2023 (incorporating an income and expenditure account) (continued)**
The statement of financial activities includes all gains and losses recognised in the year.
There are no material differences between the net deficit for the year and the historical cost equivalents.
The notes that follow form part of the financial statements.
13
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Balance sheet as at 31 March 2023**
|**Note**
**Current Assets**
Debtors
7
Cash at bank and in hand
**Total current assets**
Creditors: amounts falling due within one year
8
**Net current assets**
**Total assets less current liabilities**
**Funds**
**Restricted income funds**
**Unrestricted income funds**
**Total funds**|**2023**
**£’000**
**2022**
**£’000**
**904**
**1,222**
**123**
**68**|
|---|---|
||**1,027**
**1,290**|
||**(1,027)**
**(1,290)**|
||**-**
**-**|
||**-**
**-**|
||**-**
**-**
**-**
**-**|
||**-**
**-**|
The financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The financial statements were approved by the Board on 7 September 2023 and signed on their behalf by:
**Alice Collins, Trustee** 19/10/2023
The notes that follow form part of the financial statements.
14
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements**
## **1. Accounting Policies**
The principal accounting policies adopted, judgement and key sources of estimation uncertainty in the preparation of these financial statements are as set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **1.1 Basis of preparation**
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also conform to the requirements of the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, and the Companies Act 2006.
As the financial statements of Action are consolidated in those of its parent undertaking, the Charity has not prepared consolidated financial statements in accordance with S400 of the Companies Act 2006.
A cash flow statement has not been prepared on the grounds that the company is exempt from preparing such a statement under FRS102 as a wholly owned subsidiary of RNIB.
## **1.2 Going concern**
As explained in the Trustees report, all assets and liabilities were transferred to RNIB during April 2017. Action will remain as a shell company and a going concern for the foreseeable future in order to accept potential future legacy gifts and fundraised income.
The Trustees have reviewed the use of the going concern basis in preparing the financial statements in light of the ongoing uncertainty around the economic impact and after effects of the government measures and post lockdown relating to COVID 19. After conducting this review, it was noted that the charity has a very low fixed costs base of 0.1% of income in 2021/22 and at the point of signing substantial more income than this level of cost has been received so far in the 2022/23 financial year. As such the Trustees note that the charity will remain able to pay its debts as they fall due and therefore the ongoing use of the going concern basis of accounting remains appropriate.
15
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements (continued)**
## **1. Accounting Policies (continued)**
## **1.3 Company status**
The Charity is a company limited by guarantee. The members of the Charity during the year were the Directors and Royal National Institute of Blind People (“RNIB”) as the corporate member.
In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member.
## **1.4 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the directors in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds comprise income received with special conditions attached. The directors do not envisage that Action will retain any funds, given the decision to transfer all activities and surplus to RNIB, effected in 2017.
## **1.5 Income**
Following the transfer of all assets, liabilities and activities to RNIB on 1 April 2017, Action has since acted as a shell charity, receiving income in the form of donations and legacies, and passing directly on to RNIB within the terms of any restrictions. Income arises solely within the United Kingdom.
**Donations** : under the terms of the Association Agreement, with effect from 1 April 2009 (revised in July 2014 and September 2015), RNIB assumed responsibility for fundraising on behalf of Action.
**Legacies:** Pecuniary legacies are recognised when probate is in place. Residuary legacies are recognised when probate is granted, a copy of the will has been received to confirm Action’s entitlement, and there is sufficient information to value them. In practice this is usually when the assets and liabilities statement is received. Reversionary interests involving a life tenant and contentious legacies are not recognised.
## **1.6 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Irrecoverable VAT is accounted for as a part of the cost to which it relates.
## **Governance costs**
Governance costs comprise all costs identified as wholly or mainly attributable to ensuring the public accountability of the Charity and its compliance with regulation. These costs include external audit expenses as per note 2.
16
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements (continued)**
## **1.7 Debtors**
Debtors are stated after provision for impairment. Prepayments are valued at the amount prepaid.
## **1.8 Cash at bank and in hand**
Cash at bank and cash in hand includes cash held in bank current accounts
## **1.9 Creditors**
Creditors are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.
## **1.10 Taxation**
The Charity is a registered charity, and as such is entitled to certain tax exemptions on income and profit from investments and surpluses on any trading activities carried out in furtherance of the Charity’s primary objectives, if these profits are applied solely for charitable purposes.
## **1.11 Accounting estimates and judgements**
In preparing the financial statements, the Trustees are required to make estimates and judgements. The following judgement was identified:
## **Legacy income accrual**
Legacy income is recognised in accordance with the income recognition policy detailed in 1.5 above. In calculating the level of legacy accrual, management is required to exercise estimation and judgement, particularly in determining the amount and probability of receipt.
17
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements (continued)**
## **2. Net result for the year**
|This is stated after charging:
Auditors’ remuneration|**2023**
**2022**
**£’000**
**£’000**|
|---|---|
||**10**
**7**|
The amount stated above relating to auditor’ remuneration is exclusive of VAT.
Turnover arises solely within the United Kingdom.
## **3. Taxation**
Action for Blind People is a registered charity and accordingly is not liable to tax on its charitable income or on any realised chargeable gains when applied for charitable purposes.
## **4. Employees**
The charity has no employees (2022: none). The administration of the Charity is undertaken by staff from RNIB.
## **5. Trustees’ expenses and related party transactions**
## **Emoluments**
None of the Trustees (who are Directors of the Company) received emoluments, nor reimbursed expenses, in the year (2022: nil).
## **Related party transactions**
There were no related party transactions requiring disclosure in the year, or in the prior year, except for those listed here:
Details of related party disclosures with other members of the RNIB Group are in note 10 on page 19.
## **Insurance**
The RNIB Group enters a comprehensive range of insurance policies to protect Trustees, officers and employees against losses and legal liabilities arising from neglect or default in the course of business. The cost of the premiums for these policies are paid for by RNIB and amounted to £38,105 (2022: £35,600). The insurance for Action for Blind People is covered by this Group policy.
18
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements (continued)**
## **6. Net movement in funds in the year is stated after charging:**
Auditors' remuneration- Statutory audit fee The amount stated above is exclusive of VAT.
|**2023**|**2022**|
|---|---|
|**£’000**|**£’000**|
|**10**|**7**|
## **7. Debtors**
|Legacy accrued income
Intercompany Debtors|**2023**
**2022**
**£’000**
**£’000**
**900**
**1,222**
**4**
**-**|
|---|---|
||**904**
**1,222**|
Action has been notified of further legacies amounting to £1,754,926 (2022: £1,081,000), which have not been recognised as income at 31 March 2023 because the conditions of the accounting policy for legacies have not been met. When these conditions are met these amounts will be included in future years.
## **8. Creditors: amounts falling due within one year**
|Accruals
Amounts owed to group undertakings|**2023**
**2022**
**£’000**
**£’000**
**10**
**8**
**1,017**
**1,282**|
|---|---|
||**1,027**
**1,290**|
19
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Notes to the Financial Statements (continued)**
## **9. Analysis of net assets between funds**
|**Fund balances at 31 March**
**are represented by:**
Current assets
Current liabilities
**Total net assets**|**2023**
**Unrestricted**
**funds**
**£’000**
**2022**
**Unrestricted**
**funds**
**£’000**
1,027
1,290
(1,027)
(1,290)|
|---|---|
||**-**
**-**|
## **10. Ultimate parent company and related parties**
The Trustees regard RNIB, incorporated by Royal Charter in Great Britain, as the ultimate parent undertaking.
RNIB is the parent entity and controlling party of the largest group of which Action is a member and for which group financial statements are drawn up. Copies of the RNIB financial statements are available from 154a Pentonville Road, London, N1 9JE.
Included in creditors is £1,017k due to RNIB (2022: £1,282k). A gift of £3,286k was made to RNIB in accordance with the 2017 Deed of Transfer (2022: £7,030k).
20
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Reference and Administrative Details**
## **Trustees**
Alice Collins (appointed 1 December 2022) Martin Stuart Davidson Amanda Rowland Ozzie Clarke-Binns (resigned 1 December 2022)
## **Company Secretary**
Jessica Holifield
## **Registered Office**
Action for Blind People RNIB (Royal National Institute of Blind People) The Grimaldi Building 154a Pentonville Road London N1 9JE
## **Registered Charity Numbers**
205913 (United Kingdom) SC040050 (Scotland) 1203 (Isle of Man)
## **Registered Company Numbers**
00026688 (United Kingdom) 006012F (Isle of Man)
## **Independent Auditors**
BDO London - Baker Street 55 Baker Street London W1U 7EU
## **Solicitors**
Bates Wells 10, Queen Street Place London EC4R 1BE
21
ACTION FOR BLIND PEOPLE, COMPANY NUMBER 00026688
## **Reference and Administrative Details (continued)**
## **Bankers**
Co-operative Bank plc, City Office 78/80 Cornhill
London EC3V 3NJ
Barclays Bank plc Octagon House Gadbrook Park Northwich Cheshire CW9 7RB
22