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2024-03-31-accounts

The Middlesex Association for the Blind

(A company limited by guarantee)

Annual Report and Financial Statements For the Year Ended 31 March 2024 Company registration number: 514204 Charity registration number: 207007

The Middlesex Association for the Blind Contents

Reference and Administrative Details .................................................................2 to 3 Chairman’s Report ...............................................................................................4 to 5 Trustees’ Report………………………………………………………………………6 to 13 Trustees’ responsibilities in relation to the financial statements ......................14 to 15 Independent examiner’s report …………………………………………………....16 to 17 Statement of financial activities ................................................................................18 Balance Sheet ……………………………………………………………………………. 19 Notes to financial statements .......................................................................... 20 to 33

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The Middlesex Association for the Blind Reference and Administrative Details

Charity Name The Middlesex Association for the Blind Charity registration number 207007 Company registration number 514204 Principal Office Suite 18, Freetrade House Lowther Road Stanmore Middlesex HA7 1EP

Registered Office Suite 18, Freetrade House Lowther Road Stanmore Middlesex HA7 1EP

Members of the Board of Management

These are the directors for the purposes of the Companies Act and the charity trustees for the purpose of the Charities Act. The trustees set out below have, save where noted, held office during the whole of the period from 1st April 2023 to the date of this report:

Trustees

e of this report:
Mr R N Mehta Chair
Mr B Hindocha Vice Chair
Mr K Daneshyar Treasurer (resigned 26/09/24)
Ms O Macauley (resigned 25/1/24)
Mr T Mills (died 13/8/23)
Mr J Shingadia
Miss R Goldberg
P Basu-Barua (appointed 26/1/23, resigned
28/3/24)
Q T Khattak (appointed 22/6/23)
RRT Mennicken (appointed 22/6/23)
Mr N Liddell (appointed 28/3/24)
Ms H McGrath (appointed 27/6/24)
Ms J Thakrar (appointed 27/6/24)
N McCabe (appointed 27/6/24)
Ms J Yoe (appointed 19/12/24)

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The Middlesex Association for the Blind Reference and Administrative Details

Chief Executive Officer Ms V J Hill

Bankers HSBC 235 Northolt Road South Harrow Middlesex HA2 8HP Independent Examiner James Lambden FCA CTA Calculus Assurance Services 5 Priory Road, Loughton, IG10 1AF

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The Middlesex Association for the Blind

Trustees’ Report

Chairman's report

This is our 101st year and we are delighted and proud to continue providing high quality services to our service users.

It’s been an exceptional and eventful year. There have been many achievements, including the increase in demand for our services and the re-launch of our technology service.

We are now operating all our services across our 9 boroughs and have extended our service user base.

Financially, we have shown resilience despite both external and internal challenges in the face of unplanned expenditure. However, the coming year still remains a concern and in preparation, we dipped into our reserves.

Our priority has been ensuring high quality responsive services to our valued users through inclusive involvement and collaboration, helping both individuals and partners.

Key highlights this year have been the wonderful feedback from our service users which tell us that we are making a positive difference to their lives. This is truly inspirational and rewarding for us all.

We continue to improve our systems, processes and data so we have the best tools at our disposal to maximise our impact.

We are truly grateful to our staff and volunteers whose commitment continues to be strong, without their invaluable support we could not have made such a difference.

Volunteering with MAB makes a difference in the lives of blind and partially sighted people every year. The past year was no different. Close to 140 volunteers supported MAB throughout the last financial year, including people with lived experience of

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The Middlesex Association for the Blind

Trustees’ Report

sight loss. No matter how much or how little time people have to give, we value each and every volunteer’s contribution through delivering services, raising funds, sharing lived experience, governing our charity and so much more.

As we look to the coming year, we will review our strategy and business plan to ensure we remain focused, adaptable and flexible in the face of a demanding environment, in support of our Objects.

Our team has grown – we’re delighted to have welcomed new members of staff, volunteers, trustees and service users. But we’ve also said goodbye to much valued colleagues, and we feel their absences keenly.

None of this would be possible without the invaluable support of our donors and funders. We are truly grateful for their generosity.

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The Middlesex Association for the Blind

Trustees’ Report

Trustees’ report

The directors present their report and the financial statements for the year ended 31st March 24, which have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association, Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102) 2019), issued by the Charity Commission in October 2019 and applicable UK accounting standards.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Reference and administrative details are set out on pages 2 to 3.

Introduction to the Middlesex Association for the Blind

The activity of the charity is to continue to provide services in accordance with the Memorandum and Articles of the Association.

Governing Document

The Middlesex Association for the Blind is a company limited by guarantee (registration number 514204) and registered charity with the Charity Commission (registration number 207007). The governing document is the Memorandum and Articles of Association. The charitable company adopted revised Articles of Association by Special Resolution dated 21st September 2022.

Appointment of Directors

Council trustees/directors are appointed to the board for a period of three years. Following the end of their initial term, a trustee who remains eligible may be re-appointed by the Board for a second term of three years. Following such second term, a trustee may be re-appointed for a further third term of three years but then shall cease to be a trustee unless the other trustees consider the circumstances to be exceptional and in the best interests of the Charity, such trustee can be re-appointed for one further final term of up to three years, provided that any such re-appointment may only take effect with the consent of at least 75% of the other trustees.

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The Middlesex Association for the Blind

Trustees’ Report

The policy of the Council in appointing new members is to maintain a board of trustees with diverse background, wide range of experience, skills and knowledge, with a common purpose of wanting to make a difference for blind and partially sighted individuals whilst creating and fostering a collaborative working environment.

The trustees who served during the year and up to the date of this report are set out in the reference and administrative details on page 2.

Trustees’ Induction and Training

It is the general policy of the council to interview prospective new trustees. The interviews are held by a nomination committee. The committee’s recommendation is subject to the board's approval. Upon their appointment, the new trustees are given a brochure outlining the functions of the Association, the duties of the trustees and the work required, as well as the governing documents. Charity governance training is also provided to all trustees on a regular basis to ensure they remain informed about charity governance regulations and their responsibilities as board members.

Organisation

The Association carries out its local functions in the individual London boroughs in its area of operation. Decisions are taken by the trustees who have appointed a Chief Executive Officer to make day-to-day decisions and liaise with them on any issues affecting the Charity. The Chief Executive Officer attends all trustee-related meetings.

Risk Management

The trustees have considered their obligations in relation to risk management and have instructed their Chief Executive Officer to ensure that members of staff are aware of this statement. Members of staff are instructed to report the occurrence of events which might cause a serious risk to the Association and

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The Middlesex Association for the Blind

Trustees’ Report

its activities particularly, though not exclusively, in the following areas:

There are five main organisational risks – individually or in combination with one another – that would seriously disrupt the ability of MAB to deliver its charitable objectives. The five core organisational risks are:

The assessment of risk will be made according to the following chart:

On track – no issues (Green) Some concerns – flag and review (Amber) Significant risk – detailed actions (Red)

Our quarterly reports will consider the impact and likelihood of the risk. Where a risk (or future risk) is identified, we are asked to consider the following:

Reserves Policy

Our Reserves Policy is reviewed annually by the trustees and is based upon maintaining a minimum of 3 to 6 months operating costs to ensure that the charity could proceed in a properly managed way even if all funding ceased. Total unrestricted

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The Middlesex Association for the Blind

Trustees’ Report

reserves are £306,144 of which £143,755 are invested in fixed assets and £Nil have been designated, leaving £162,389, backed by bank balances and liquid investments, representing 3.5 months of operating expenses for the year ended 31st March 2024 of £550,702, of which £354,907 were funded from restricted funds. Restricted funds carried forward as at 31st March 2024 were £162,983.

Maintaining a reasonable level of reserves is achieved through proper budgetary control whereby the Finance, Risk and Audit (FRA) Committee examines income and expenditure performance against the budget set at the beginning of the financial year and reviews every 3 months. Fundraising initiatives and service delivery can then be changed in a timely fashion to ensure our financial performance is properly balanced. In addition, all personnel matters will be regularly reviewed by the Human Resources & Safeguarding (HR) Committee.

The trustees’ policy and practice is to review the major risk possibilities in the areas listed above. As a matter of practice, these matters come before the FRA committee regularly.

Members of the FRA and HR committees have been granted delegated authority by the board, who will review such authority regularly.

Public Benefit

The Council of Management are confident that their activities in pursuit of their Objects are delivering Public Benefit to people who are blind and visually impaired.

Objectives

The charitable objectives, for which The Middlesex Association for the Blind is incorporated, are as set out in the Memorandum and Articles of Association as amended on 21st September 2022.

The Objects for which the Charity continues to be established are to assist and promote in any and every way the welfare and

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The Middlesex Association for the Blind

Trustees’ Report

the physical, mental and spiritual wellbeing of the visually impaired in the area of operations. For the purposes of the Objects, "the area of operations" means, but shall not be limited to, the areas of the London Boroughs of Barnet, Brent, Ealing, Enfield, Haringey, Harrow, Hillingdon, Hounslow and Richmond as they are constituted at the date of adoption of these Articles of Association.

The Beneficiaries

The original areas of the Association were those within the boundaries of the old County of Middlesex. As a result of boundary changes, the Memorandum of Association now provides for the areas of operations of the Association to be the London Boroughs listed under ‘Objectives’ above.

Supporting people with a visual impairment remains the prime objective of the Association's work. "Visually impaired" means and includes persons living in the area of operations who are blind or who suffer from defective sight whether or not they are registered as blind or with defective sight, and includes those persons living in the area of operations who in addition to being visually impaired suffer from defective hearing.

Services we delivered

Home Visiting remains our core service. In addition to our Home Visiting Service, we also provide Technology and Employment Services, Braille Training, Rapid Response Counselling, Visual Awareness Training, delivery of British Wireless for the Blind Equipment, social clubs for people with a visual impairment and our Mobile Resource Unit.

Achievement and Performance in Core and Other Areas during the year

Approximately 140 volunteers work with us to enable us to deliver our services. They are engaged in home visiting, delivering radios supplied by the British Wireless for the Blind Fund, and providing administrative support at head office.

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The Middlesex Association for the Blind

Trustees’ Report

Volunteers are an invaluable part of our organisation and enable us to reach out to far more people with visual impairments than would otherwise be the case.

Home Visiting Service: Supporting People to remain in their homes, remain independent and continue to be part of the community.

Braille tuition: The Association provides the opportunity for people to learn braille.

Information and Advice: Providing telephone advice and information in response to a large number of enquiries received during the year.

Awareness Training: Providing training to our staff and volunteers to increase their understanding of the issues affecting people with visual impairments.

Employment Service: The Employment Service supports people with visual impairment to retain or seek employment.

Rapid Response Counselling Service: We employ a qualified counsellor who works across all our boroughs with those experiencing anxiety as a result of sight loss.

Mobile Resource Unit (MRU): Our converted motorhome visits all 9 boroughs, giving people the opportunity to try out some assistive technology equipment, raising awareness of the sight loss pathway and encouraging people to look after their eye health.

British Wireless for the Blind Fund (BWBF): We are agents for the BWBF and distribute adapted radios to eligible residents.

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The Middlesex Association for the Blind

Trustees’ Report

Leisure and Social Activities: The Association has a cycling club to provide healthy activity in a social setting using a specially adapted twin seat tricycle. We also run social clubs where people with visual impairments can get together and socialise in a relaxed and supportive environment. We also make small grants to individuals and a number of clubs supporting people with visual impairments across Middlesex towards social activities and personal wellbeing.

Currently, we support over 500 service users with the help of our staff and circa 140 volunteers.

Our performance

A significant part of our funding is through grants from a diverse range of trusts, philanthropies and organisations, including local authorities which support our services. As of 31 March 2024, our total funds carried forward are £469,127, of which £162,983 is restricted. Our expenditure for the financial year has been £550,702 and our income has been £438,965, ending the year with a deficit before investment gains of £111,737. Net recognised investment losses were £1,145, resulting in a total deficit for the year of £112,882.

Our thanks go to:

London Boroughs of Barnet, Brent, Ealing, Enfield, Harrow, Hillingdon, Hounslow, Richmond.

We are grateful to individual donors, trusts, philanthropies, and grant-making organisations who have enabled MAB to continue to deliver our vital services to people who are blind and partially sighted. None of this would have been possible without your continued support.

Volunteers and those who remembered us in their Will.

Our incredibly hard-working staff and volunteers.

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The Middlesex Association for the Blind

Trustees’ Report

The Rehabilitation Officers and Eye Care Liaison Officers (ECLOs) across the nine London Boroughs we serve.

Future Plans

Our vision is for every individual with vision impairment to be able to realise their full potential in all aspects of independent living, and to be acknowledged as full and active members of society.

Compliance with laws and regulations

The trustees have established policies and procedures designed to ensure that it complies with all material laws and regulations in relation to the charitable company’s operations and activities. The trustees are not aware of any significant non-compliance with laws and regulations.

Independent examiners

The trustees have decided to take advantage of audit exemption under the Companies’ Act 2006 and the Charities Act 2011 and use an independent examiner as part of governance and internal control of the charity. Calculus Assurance Services have expressed their willingness to continue in that capacity and a resolution proposing their re-appointment will be presented at the annual general meeting.

Small company provisions

This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.

Approved by the Board and signed on its behalf by:

10/03/2025

Mr R.N. Mehta Date Chair

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The Middlesex Association for the Blind

Trustees’ Responsibilities in relation to the Financial Statements

The trustees (who are also directors of The Middlesex Association for the Blind for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including 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;

— observe the methods and principles in the Charities SORP;

— make judgements 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 proper accounting records that 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

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The Middlesex Association for the Blind

Trustees’ Responsibilities in relation to the Financial Statements for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board and signed on its behalf by:

10/03/2025

Mr R.N. Mehta Date Chair

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Independent Examiner's Report to the Trustees of

The Middlesex Association for the Blind

For the year ended 31 March 2024

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the Middlesex Association for the Blind (‘the charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes which are set out on pages 18 to 33.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

As permitted by Direction 2, issued by the Charity Commission the firm for which I work has provided the Company with extended accounts preparation services in respect of the accounts for the year ended 31 March 2024. As a consequence, I have followed the requirement of the FRC’s Ethical Standard when undertaking this assignment and ensured additional safeguards have been applied to ensure independence has not been compromised.

Independent examiner's statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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Independent Examiner's Report to the Trustees of The Middlesex Association for the Blind

For the year ended 31 March 2024

Independent examiner's statement (continued)

I have completed my examination. I confirm that no 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 company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

James Lambden FCA CTA

Calculus Assurance Services

5 Priory Road, Loughton, IG10 1AF

Date 10/03/2025

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THE MIDDLESEX ASSOCIATION FOR THE BLIND STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note No
Income and Endowments from:
Donations and Legacies
2
Charitable Activities
3
Other Trading Activities
4
Investment income
5
Total
Expenditure on:
Fundraising trading: costs of goods sold
6
Charitable activities
7
Total
Gain (Loss) from Operations
Net gains on sale of investments
Net income/expenditure
Net Gains (Losses) on revaluation of investments
Gross transfers between funds
Net movements in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
Total Unrestricted Funds -Available Free Reserve
Tangible Assets for own use		 UNRESTRICTED
FUNDS
£
47,961
34,950
1,915
6,501
91,327
14,447
181,348
195,795
-104,468
18,826
-85,642
-19,971
-11,409
-117,022
423,166		 RESTRICTED
FUNDS
£
256,700
75,101
12,100
3,737
347,638
-
354,907
354,907
-7,269
-
-7,269
11,409
4,140
158,843		 2024
£
304,661
110,051
14,015
10,238
438,965
14,447
536,255
550,702
-111,737
18,826
-92,911
-19,971
-
-112,882
582,009
469,127		 2023
£
268,937
211,901
3,716
8,368
492,922
13,008
467,358
480,366
12,556
-7,632
4,924
-47,639
-
-42,715
624,724
306,144 162,983 582,009
162,389
143,755
306,144		 273,694
149,472
423,166

The notes on pages 20 to 33 form an integral part of these financial statements.

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THE MIDDLESEX ASSOCIATION FOR THE BLIND COMPANY NUMBER: 514204 BALANCE SHEET AS AT 31 MARCH 2024

Note No
Fixed Assets
Tangible assets
12
Investments
13
Current Assets
Debtors
14
Cash at bank and in hand
Creditors: Amounts falling due within one
year
15
Net current Assets
Total assets less current liabilities
The funds of the charity:
Restricted funds in surplus
23, 26
Unrestricted funds
Revaluation reserve
23
Balance Unrestricted funds
23
less Tangible Assets
Total unrestricted funds- Available Free Reserve
Tangible fixed Assets for own use
20
Total charity funds		 £
£
143,755
319,400
463,155
24,147
41,189
65,336
-59,364
5,972
469,127
162,983
83,675
222,469
-143,755162,389
143,755
469,127
2024		 2023 2023
£
24,147
41,189		 £
33,529
75,768		 £
149,472
352,857
502,329

79,680
65,336
-59,364		 109,297
-29,617
83,675
222,469
-143,755		 103,646
319,520
-149,472
582,009
158,843
273,694
149,472
582,009

The board of trustees are satisfied the charitable company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and no members have required an audit in accordance with Section 476

The board of trustees acknowledge their responsibilities for:

(i) ensuring that the company keeps accounting records which comply with section 386; and

(ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus of deficit for the financial year in accordance with the requirements of Section 396, and which otherwise comply with the requirements of this Act relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 and the Charities SORP (FRS 102).

These financial statements set out on pages 18 to 33 were approved and authorised for issue by the Trustees on 6 March 2025 and signed on their behalf by:

Mr. Raj Mehta Chair - Director

10/03/2025

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The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2024

1 Summary of significant accounting policies

(a) General information and basis of preparation

Middlesex Association for the Blind is a private company limited by guarantee registered in England and Wales (number 0514204) and registered as a charity with the Charity Commission (number 207007). In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity’s operations and principal activities are supporting blind, partially blind and deaf blind people to lead independent lives.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The charity has taken advantage of the exemption from the requirement to prepare a Statement of Cash Flows available to small charities with total income of less than £500,000 under the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP (FRS102)).

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

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The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2024

(c) Income recognition (continued)

Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP. Further

detail is given in the Trustees’ Annual Report.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure. Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income from charitable activities includes “earned” income received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The charity receives government grants in respect of services provided to blind or partially sighted beneficiaries. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Other income includes gains on disposals of investments and tangible fixed assets.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

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The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2024

(d) Expenditure recognition (continued)

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Premises overheads and other overheads have been allocated in proportion to the salary costs incurred in delivering the project or service.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 7.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold land and buildings Straight line over the shorter of the lease term and 50 years Plant and machinery 25% on written down value Motor vehicles 25% on written down value

(g) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.

Page | 22

The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2024

(g) Investments (continued)

Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the revaluation reserve based on the market value at the year end.

(h) Cash and cash equivalents

Cash represents cash in hand plus bank balances immediately available to the charity. Cash equivalents are bank balances held on short term deposit available to the charity at up to three months’ notice.

(i) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(j) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(k) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(l) Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

(m) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Page | 23

The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2024

(n) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(o) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(p) Financial instruments

Financial instruments such as accounts receivable, accounts payable and cash are classified either as basic or complex. All financial instruments are initially measured at their fair values at time the transactions occur. Subsequently all basic instruments are measured at amortised cost and all complex financial instruments are measured at a fair value through the statement of comprehensive income.

Financial instruments held by the charity are classified as follows:

(q) Judgements and key sources of estimation uncertainty

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Where income is received for specific projects that income is recognised when the project is delivered unless the income is specific to certain expenditure for example, salary costs or purchase of equipment, in which case the income is recognised when the expenditure is incurred.

All financial instruments are basic instruments.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

Page | 24

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

2 Income from donations

Donations & Legacies
Appeals and donations
Legacies
3 Income from Charitable Activities
Grants
Local authority Grants
Grants - other agencies
4 Other trading activities
Students secondments & training
Provision of CRB Services to Partners
other Income		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2024
£
£
£
45,456
256,700
302,156
2,505
-
2,505
47,961
256,700
304,661
UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2024
£
£
£
-
75,101
75,101
34,950
-
34,950
34,950
75,101
110,051
UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2024
£
£
£
-
12,100
12,100
140
-
140
1,775
-
1,775
1,915
12,100
14,015		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2023
£
£
£
21,358
247,579
268,937
-
-
-
21,358
247,579
268,937
UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2023
£
£
£
-
123,536
123,536
88,365
-
88,365
88,365
123,536
211,901
UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2023
£
£
£
-
-
-
311
-
311
3,405
-
3,405
3,716
-
3,716

Page | 25

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

5 Investment income

nvestment income
Interest receivable
Income from listed investments		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2024
£
£
£
61
-
61
6,440
3,737
10,177
6,501
3,737
10,238		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2023
£
£
£
-
-
-
6,196
2,172
8,368
6,196
2,172
8,368

6 Fundraising trading : cost of goods sold and other costs

Sales of goods and fundraising
Cost of good sold
Fundraising costs		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2024
£
£
£
-
-
-
14,447
-
14,447
14,447
-
14,447		 UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
2023
£
£
£
-
-
-
3,157
9,851
13,008
3,157
9,851
13,008

Page | 26

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

7 RESOURCES EXPENDED

Details
Home Visiting & Supporting People
Employment Services
Braille Service
Counselling Service
Communications & IT
Fundraising & Other Grants		 Staff Cost
£
160,678
41,499
7,042
27,868
31,476
43,515
28,945
640
-
27,056
-
59,838		 Other Direct Allocated
Support Cost
Total
2024
£
£
66,150
228,516
Home Visiting & Supporting People
17,397
60,097
Employment services
2,869
9,911
Midsight + Braille service
11,354
39,222
Early Intervention & Rapid Response Service
12,824

44,300
Communications and IT
23,615
81,577
Fundraising & Other Grants
12,966
44,791
Mobile Resource Unit
261
901
Social Club
-
1
Other costs not allocated to projects
11,023
38,079
Governance cost
957
3,307
Holiday Grant / Meek legacy
(159,416)
-

Support Costs (Note 7a)
-
550,702
14,447
354,907
Restricted pro rata
181,348
Unrestricted pro rata
550,702		 Allocated
Support Cost
Total
2024
£
£
66,150
228,516
Home Visiting & Supporting People
17,397
60,097
Employment services
2,869
9,911
Midsight + Braille service
11,354
39,222
Early Intervention & Rapid Response Service
12,824

44,300
Communications and IT
23,615
81,577
Fundraising & Other Grants
12,966
44,791
Mobile Resource Unit
261
901
Social Club
-
1
Other costs not allocated to projects
11,023
38,079
Governance cost
957
3,307
Holiday Grant / Meek legacy
(159,416)
-

Support Costs (Note 7a)
-
550,702
14,447
354,907
Restricted pro rata
181,348
Unrestricted pro rata
550,702		 Staff Cost
£
136,399
25,877
6,111
25,847
5,426
39,040
20,317
-
13,377
15,014
98,095		 Other
Direct Cost
£
1,166
455
3,653
5,502
71,079
 Allocated
Support Cost		 Total 2023
£
219,153
41,811
9,766
41,308
8,672
62,392
36,123
-
21,379
21,252
5,502
-
Cost
£
1,688
1,201
-
-
-
14,447

2,880

-

1
-
2,350
99,578

£
81,588
15,479
3,655
15,461
3,246
23,352
12,153
-
8,002
6,238
-
(169,174)
Mobile Resource Unit
Social Club
Other costs not allocated to project
Governance Cost
Holiday Grant/ Meek Legacy
Support Costs (Note 7a)
Summary
Fundraising
Charitable activities - restricted
Charitable activities - unrestricted
428,557 122,145 - 385,503 81,855 - 467,358
339,253
128,105
467,358

Page | 27

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

7a SUPPORT COST

Details
Depreciation
Bank Charges & Interest
Cleaning
HR and Health & Safety
Electricity
Insurance
Repairs & Maintenance		 Office Admin
£
5,717
131
1,043
1,111
2,552
1,112
8,444
-
1,597
-
-
-
-
4,371
-
3,675
4,128
-
73
-
300		 Professional
£
-

-
-
35,472
-
-
-
-

-
-
1,831
3,997
3,650
2,490
1,209
1,021

-
-
15,654

-
-
-		 Staff Cost
£
-
-
-
-
-
-

-

-
-
-
-
-
-
-

-

-
-

-
-
-

59,838
-		 Total 2024
£
5,717
Depreciation
131
Bank charges and interest
1,043
Cleaning
35,472
Health &safety
1,111
Electricity
2,552
Insurance
1,112
Repairs and maintenance
8,444

Telephone and broadband
-
Legal and professional
1,597
Adverising &PR
1,831
Staff training and welfare
3,997
Independent Examination
3,650
Bookkeeping
2,490
Investment Management
5,580
Staff Recruitment Costs
1,021
Staff and volunteer training
3,675
IT equipment, software, maint & support
4,128
Printing, postage and stationery
-
Service charges
15,654
Other staff costs
73
Governance costs
59,838
Salaries
300
Sundry expenditure
159,416		 Office Admin
£
6,357
131
1,375
1,119
3,300
1,102
10,755
8,331
6,652
2,951
95
9,764
Professional
£
6,436
3,903
2,665
6,143		 Staff Cost
£
7,740
5,852
788
14,012
-
69,703		 Total 2023
£
6,357
131
1,375
6,436
1,119
3,300
1,102
10,755
-
-
7,740
3,903
-
2,665
5,852
788
8,331
6,652
2,951
14,012
6,238
69,703
9,764
Telephone & Broadband
Legal & Professional
Advertising
Staff Training & Welfare
Independent Examination
Bookkeeping
Investment Management
Staff Recruitment Costs
Staff & Volunteer Training
IT Equipment, Software, Maintenance & Support
Printing, Postage & Stationery
Service charges
Other Staff Cost
Governance Cost
Salaries
Sundry Expenditure
Total
34,254 65,324
 59,838 51,932 19,147 98,095 169,174

Page | 28

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8 Trustees' remuneration and expenses and donations

No trustees received any remuneration during the year. No trustees received any expenses during the year.

Trustee donations received in the year amounted to £1,100 upon which Gift Aid of £275 was recoverable.

9 Surplus / (deficit) is stated after charging / (crediting):

Surplus / (deficit) is stated after charging / (crediting):
Net income is stated after charging
Services of Independent Examiner:
: Independent Examination
: Accounts preparation
Operating lease rentals
Depreciation of tangible fixed assets		 2024
2023
£
£
2,067
2,275
1,930
1,625
5,491
7,227
5,717
6,357

10 Employees' remuneration

The average number of persons employed by the charity (including trustees) during the year, analysed by category, was as follows:

category, was as follows:
2024 2023 2024 2023
No No F T E F T E
Charitable activities 19 20 14.67 10.40
Governance 1 1 1 1

The aggregate payroll costs of these persons were as follows:

Wages and salaries
Social security costs
Other pension costs
Redundancy costs		 2024
2023
£
£
395,833
330,429
25,330
20,801
7,394
5,881
-
428,557
357,111

No employees were paid £60,000 or above per annum.

The aggregate payroll costs of key management personnel were as follows:

Wages and salaries
Social security costs
Other pension costs		 2024
2023
£
£
44,160
48,540
4,839
5,742
1,138
1,269
50,137
55,551

11 Taxation

The company is a registered charity and is therefore exempt from taxation.

Page | 29

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12 Tangible fixed assets

LEASEHOLD
PROPERTY
FIXTURES,
FITTINGS &
EQUIPMENTS
Cost
£
£
As at 1 April 2023
189,633
29,353
Additions
0
Disposals
0
As at 31 March 2024
189,633
29,353
Depreciation
As at 1 April 2023
47,863
24,561
Charge for the year
3,792
1,198
Elimiated on disposals
0
0
As at 31 March 2024
51,655
25,759
Net Book Value
As at 31 March 2024
137,978
3,594
As at 31 March 2023
141,770
4,792
13
Investments held as Fixed Assets
Market value
As at 1 April 2023
Investments withdrawn
Investment income
Investment management fees
(Loss) on the sale of investments
Gains on the sale of investments
Gains(loss) on the revaluation of investments
As at 31 March 2024
-
Net Book Value
As at 31 March 2024
As at 31 March 2023
All investment assets were held in the UK as follows.
Cash balances
Listed investments
14
Debtors
Trade debtors
Prepayments and accrued income		 LEASEHOLD
PROPERTY
FIXTURES,
FITTINGS &
EQUIPMENTS
£
£
189,633
29,353
0
0		 VEHICLES
T O T A L
£
£
49,147
268,133
0
0
189,633
29,353		 49,147
268,133
47,863
24,561
3,792
1,198
0
0		 46,237
118,661
727
5,717
0
0
51,655
25,759		 46,964
124,378
137,978
3,594		 2,183
143,755
141,770
4,792		 2,910
149,472
2024
2023
£
£
352,857
402,427
-40,000
0
10,178
8,366
-2,490
-2,665
-5,253
0
24,079
-7,632
-19,971
-47,639
319,400
352,857
£
£
319,400
352,857
352,857
402,427
2024
2023
£
£
12,801
27,966
306,599
324,891
319,400
352,857
2024
2023
£
£
7,150
7,279
16,997
26,250
24,147
33,529

Page | 30

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15 Creditors : Amounts falling due within one year

Trade creditors
Taxation and social security
Accruals and Creditors
Deffered Income (Note 15(a))		 2024
2023
£
£
6,131
7,527
3,490
6,131
42,216
23,486
59,364
29,617

15(a) Deferred income
Deferred income
Brought forward
Released in the year
Deferred in year
Carried forward		 2024
2023
£
£
23,486
15,827
-23,486
-15,827
42,216
23,486
42,216
23,486

16 Related party transactions

Mr R Mehta is a trustee of Thomas Pocklington Trust who provided a grant during the year ended 31 March 2024 of £10,000 (2023: £Nil). Mr Mehta was not involved in either the grant application or consideration of the award.

Mr B Hindocha is a trustee of London Golders Green Lions Club who provided a donation of £2,000 during the year ended 31 March 2024 (2023: £1,200).

17 Members' Liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

18 Controlling entity

The Charity is controlled by the Trustees who are all directors of the Company.

19 Subsequent Events Note

There have been no events affecting the assets or financial position of the charity at 31 March 2024.

20 Analysis of net assets between funds

Analysis of net assets between funds
Investments
Current assets
Creditors within one year
Fixed assets		 Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
2024
2024
2024
2023
£
£
£
£
162,389
157,011
319,400
352,857
59,364
5,972
65,336
109,297
-59,364
-59,364
-29,617
162,389
162,983
325,372
432,537
143,755
143,755
149,472
306,144
162,983
469,127
582,009

21 Operating lease commitments

The future minimum lease payments under non-cancellable operating leases are as follows:

Within one year
Between one and two years
Between two and five years
Total		 2024
2023
£
£
6,532
6,532
6,532
6,532
3,266
9,798
16,330
22,862

Page | 31

THE MIDDLESEX ASSOCIATION FOR THE BLIND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

22 Capital Comittments

Contractual commitments for the acquisition of intangible and tangible fixed assets contracted for but not provided in the financial statements amounted to £ - (2023 £-).

23 Funds

2024

Funds 2024
As at 1 April 2023
Net Incoming Resources
Capital Gains
Realised gains
Transfers between funds
As at 31 March 2024		 Revaluation Unrestricted Restricted
Total
reserve
funds
funds
funds
£
£
£
£
103,646
319,520
158,843
582,009
-104,468
-7,269
-111,737
-1,145
-1,145
-18,826
18,826
0
-11,409
11,409
0
83,675
222,469
162,983
469,127
24
Financial Instruments
Financial Assets
Financial assets measured at fair value
Investments
Financial assets measured at amortised cost
Trade debtors
Financial assets measured at cost
Cash and cash equivalents
Total financial assets		 2024
2023
£
£
306,599
324,891
24,147
33,529
53,990
103,734
384,736
462,154

Page | 32

THE MIDDLESEX ASSOCIATION FOR THE BLIND

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

25. Designateded funds
Brought forward
Incoming resources
Expenditure
Transfers
Gains / (losses)
Carried forward		 <-----------------------
2024
----------------------->
TOTAL
Mobile Resource
Unit
LB Haringey
0
0
0
0
0
0
0
0
<----------------------- 2023 ----------------------->
Mobile Resource
TOTAL Unit LB Haringey
57,000 47,000 10,000
0 0 0
-46,123 -36,123 -10,000
-10,877 -10,877 0
0 0 0
0 0 0

26. Restricted funds

Incoming Resources
Resources Expended
Movement
Balance as at 1 April 2023
Transferred to Unrestricted funds
Balance as at 31 March 2024		 TOTAL
Other
restricted
income
Other grants
and donations		 TOTAL
Other
restricted
income
Other grants
and donations		 TOTAL
Other
restricted
income
Other grants
and donations		 MEEK
LEGACY		 TOTAL FOR
ALL THE
BOROUGHS		 TOTAL Other
restricted
income		 Other
donations		 MEEK
LEGACY		 TOTAL FOR
ALL THE
BOROUGHS
£
347,638
354,907		 12,100
15,118		 £
256,700
256,505		 £
3,737
2,929		 £
75,101
80,355		 £
373,287
349,104		 0
0		 £
235,079
216,993		 £
2,172
5,502		 £
136,036
126,609
-7,269
158,843		 -3,018
0		 195
0		 808
158,843		 -5,254
0		 24,183 0 18,086 -3,330 9,427
162,173 0 0 162,173 0
151,574
11,409		 -3,018
3,018		 195
3,137		 159,651
0		 -5,254
5,254		 186,356 0 18,086 158,843 9,427
-27,513 0 -18,086 0 -9,427
162,983 0
3,332
159,651
158,843 0 158,843 0

Restricted funds are those where the funder specifies that it is to be spent wither within a local authority area or for the specific project identified in the grant application or offer letter.

Page | 33