The Middlesex Association for the Blind (A company limited by guarantee) MAB Annual Report and Financial Statements For the Year Ended 31 March 2025 Company registratTron number: 514204 Charity registration number: 2077 •AE8E0S. COMPANIES HOUSE
The Middlesex Association for the Blind Contents Reference and Administrative Details .................... .2to3 Chaimian's Report.. .4t06 Trustees, Report.........................-.......................................................7 to 16 Trustees. responsibilities in relation lo the financial staternents .... .17to 18 Independent examinerfs report.........-.............................................. -19to 20 Statement of financial activrties . -21 Balance Sheet........ .22 statement of cash fk)ws ................ ..23 Notes to financial statements . 24to37 Pa8ell
The Middlesex Association for the Blind Reference and Administrative Details Charlty Name The Middlesex Association for the Blind Charity registration number 207007 Company reglstration numb•r 514204 Principal Office ' Suite 18. Freetrade House Lovrther Road Stanmore Middlesex HA7 1EP Registered Office . Suite 18, Freetrade House Lowther Road Stanmore Middlesex . HA71EP 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 2024 to the date of this report: Trustees Mr R N Mehta Mr 8 Hindocha Mr K Daneshyar Mr N Liddell Mr J Shingadia Miss R Goldberg Mr Q T Khattak Mr RRT Menni(*en Ms H McGrath Ms J Thakrar Mr N Mccabe MsJYoe Ms MT Shah Chair Vice Chair Treasurer (resigned 2619124) Treasurer (from 2619124) (appointed 2716124) {appointed 2716124) (appointed 2716124) (appointed 19112124) (appointed 2616125) Page | 2
The Middlesex Association for the Bllnd Reference and Administrative Details Chief Executive Officer MsVJHill Bankers HSBC 235 Northolt Road South Harrow . Middlesex HA2 8HP Independent Examiner James Lambden FCA CTA Calculus Assuran Services 5 Priory Road. Loughton. IG10 1AF Pa8e13
The Middlesex Association for the Blind Trustees, Report (Chairman's Report) Ch ir 24 As we reflect on the 2024 fiscal year, I am filled with a deep sense of pride and gratitude. The Middlesex Association for the Blind (MAB) continues to grow and thrive, thanks to the unwavering dedication, SI11enCe, and compassion of our entire community. This year was especially meaningful as we celebrated our 102nd year of service-a remarkable milestone for our organisation and the many individuals and communities we have had the privilege to support over the decades. More than just a number, this centenary represents a continued legacy of empowering people of all ages who are blind or partially sighted, helping them lead independent, confident, and fulfilling lives. At the heart of our success is the community we serve-and the extraordinary people who support our mission. I want to extend heartfelt thanks to our devoted staff, our Board of Trustees, our incredible volunteers, generous donors, partners, and the London boroughs in which we opérate. Each of you plays a vital role in building a society where people living with sight loss are valued, supported, and empowered. m20 Service Delivery and Reach: We continued to provide high-quality, person-centred serdices across all nine boroughs we serve. We reached more individuals than ever before, ensuring our support is responsive, relevant, and impactful. The feedback from our serrfice users has been incredibly encouraging and deeply moving-their stories reaffirm why we do what we do. Community and Connection: Through in-person visits and local events, we fostered spaces for connettion, peer support, and shared experiences. These moments of togethemess are central to our work and create lasting, positive impact. Page14
The Middlesex Association for the Blind Trustees, Report (Chairman's Report) Technology and Digital Inclusion: This year saw a significant expansion of our digital support services, with a focus on accessibility and inclusion. Our efforts have been particularly transformative for older people living with sight loss-helping them gain essential digital skills for everyday life, boosting confidence and improving quality of life. Organisational Resilience and Systems: We continue to evolve and. strengthen our systems and infrastructure to meet changing demands. This includes improving access to our website, data security and ensuring robust, future- ready operational foundations. Financial Stewardship: We've shown financial SEllenCe and continue to prioritise effertive, efficient operations. I'm pleased to report that we have balanced our budget our income met our expenditure this year-a strong result in today's economic climate. This outcome reflects our prudent financial management and our commitment to long-term sustainability. We welcomed new donors and continued to receive generous support from long-standing partners-thank you for your trust and continued belief in our work. People and Partnerships: Our community of people is the heart and soul of MAB. We welcomed new team members, trustees, volunteers, and service users-and we bid farewell to valued colleagues whose legacies remain woven into our work. We were supported by over 160 volunteers this year, many of whom have lived experience of sight loss. Whether delivering services, fundraising, or shaping strategy, your contributions are profound and deeply appreciated. Pa8e15
The Middlesex Association for the Blind Trustees, Report (Chairman's Report) Looking Ahead While we remain mindful of ongoing challenges-economic uncertainty, increasing demand for services, and a fast-changing world we are optimistic. In the coming year. we will refresh our strategy and business plan to ensure we stay aligned with our goals, responsive to our community of service users, and grounded in our values. We will continue working with care and efficiency to deliver impactful services that make a real difference in people's lives. We are committed to building a future where everyone living with sight loss feels supported, included, and empowered. In Gratitude To our funders, donors, and partners-thank you. Your generosity fuels everything we do. You are not just supporting a charity you are helping to change lives. Together, we move forward with hope. determination, and a shared vision of inclusion and opportunity for all. Page16
The Middlesex Assoclatlon for the Blind Trustees, Report (Including Directors, Report) For the Year Ended 31 March 2025 Trustees. re ort The directors present their report and. the financial statements for the year ended 31 March 2025. which have been prepared in accordance with the accounting policies set out in notes to the financial statements, and comply 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) (the "Charities SORP"), 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 Middlesex Association for the Blind (MAB) provides services in line with its Memorandum and Articles of Association, supporting individuals with visual impairments across its defined area of operation. Governing Document MAB is a charitable company limited by guarantee (Company No. 514204; Charity No. 207007). It operates under its governing document-the Memorandum and Articles of Association-as amended by Special Resolution on 21 September 2022. Appointment of Trustees (Directors) Trustees are appointed for an initial three-year term. Subject to eligibility, they may be reappointed for up to two further three- year terms. In exceptional circumstances, and with approval from at least 75 % of the Board, a trustee may serve one additional final term of up to three years. Amended by Special Resolution dated 12 July 2025 to five terms in total. Trustee appointments aim to ensure a diverse board with a broad range of skills and experience, united in the commitment to improve the lives of blind and partially sighted individuals. Pa8e17
The Middlesex Association for the Bllnd Trustees Report (including Directors, Report) For the Year Ended 31 March'2025 Appointment of Trustees (Directors) continued 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. Trustee Induction and Training Prospective trustees are inter4iewed by the Nominations Committee, with final approval from the Board. On appointment, trustees receive a comprehensive induction pack outlining their responsibilities, the Association's work, and governing documents. Ongoing governance training is provided regularly to ensure trustees remain informed and compliant. Organisational Structure MAB operates locally across designated London boroughs. Strategic decisions are made by the Board of Trustees, supported by a Chief Executive Officer who manages day-to-day operations and attends all board meetings. Committee structure The Finance, Risk and Audit Committee supports the Board of Trustees by overseeing the charrty's financial management, risk management, internal controls, and all other key processes. It provides independent assurance and advice to the Board on these matters. The HR and Safeguarding Committee oversees and advises on personnel matters and safeguarding issues. It ensures MAB maintains effective human resources practices and robust safeguarding measures to protert its employees, volunteers, beneficiaries and other stakeholders. The remuneration of all staff is reviewed annually against their individual performance, the charity's financial performance, and the London Living Wage. For senior leaders, we also take into consideration the charity sector's pay benchmarks. Both committees operate under delegated authority from the Board, which is reviewed regularly. Page18
The Middlesex Association for the Blind Trustees, Report (including Directors, Report) For the Year Ended 31 March 2025 Risk Management The Board has identified five principal organisational risks that could impact MAB'S ability to fulfil its goals: Financial - Insufficient funding to operate Reputational - Damage affecting credibility or trust People - Inadequate skills or resources Systems - Operational or technological failures Safeguarding - Failure to ensure safety in seprfice delivery Risk levels are reviewed regularly by the trustees using a traffic light system (Green On Track, Amber Monitor, Red High Risk). Mitigation includes preventive controls, contingency actions, and a defined risk appetite. Staff are trained to report any significant events that could affect operations. Investment Management An Investment Manager was appointed several years ago to manage the charity's investments on a discretionary basis. This means the Investment Manager makes day-to-day decisions about the investments, in line with the charity's agreed policies. Our investment and reserves policy reflects the charity's financial needs and risk appetite, which is assessed as low to medium. The performance of the Investment Manager is reviewed regularly to ensure it meets our expectations. We also review our investment and reserves policy at least once a year, alongside our other key policies, to ensure it remains appropriate and aligned with our objectives. Reserves Polic The market value of MAB investments was £407,011, of which £91,612 were invested in fixed income (representing the Expendable Endowment fund) and £315,399 invested in equities in line with the charity's investment policy. The total unrestritted investments value as at 31 March 2025 was £175,399 and £140,000 was restricted (Meek legacy), making up the total of £315,399. Page19
The Middlesex Association for the Blind Trustees. Report (including Directors, Report) For the Year Ended 31 March 2025 Public Benefit The Trustees, confirm that they have had due regard to the Charity Commission's Guidance on Public Benefit and consider that MAB'S activities deliver public benefit in accordance with its charitable objectives, supporting individuals who are blind or partially sighted. Objectives and Area of Benefit MAB'S charitable objettives, as outlined in the revised Articles (21 September 2022), are to promote the welfare and wellbeing- physical, mental, and spiritual of visually impaired people in its area of operation. This includes the London Boroughs of Barnet, Brent, Ealing, Enfield, Haringey, Harrow, Hillingdon, Hounslow, and Richmond. Definition of Beneficiaries "Visually impaired" refers to individuals who are blind or have significant sight loss, whether or not formally registered, and may include those with dual sensory loss. Our Services and Achievem nts Service Delivery Overview Home Visiting remains the comerstone of our work, forming the foundation of our commitment to supporting individuals with vision loss. In addition to this core service, we proudly offer a diverse range of complementary services. including: Rapid Response Counselling Technology and Employment Services Braille Training Our Mobile Resource Unit (MRU) Visual Awareness Training Social clubs and leisure attivities Distribution of British Wireless for the Blind Fund (BWBF) equipment Each of these services is designed to empower individuals, promote independence, and build a stronger, more inclusive community. Page 110
The Middlesex Association for the Blind Trustees. Report (including Directors. Report) For the Year Ended 31 March 2025 Our People and Impact We are privileged to work alongside more than 160 dedicated volunteers. Their contributions are essential to our operations, enabling us to extend our reach far beyond what would be possible with staff alone. Volunteers play vital roles in home visits, social clubs, delivering radios from the BWBF, and providing administrative support at our head offfice. Their commitment reflects the spirit of compassion and community at the heart of our organisation. This amounts to in excess of 10,000 hours of voluntary effort per annum. Services Highlights Home Visiting and Advocacy: Supporting individuals to remain independent in their homes, engage with their communities, and access essential services. Rapid Response Counselling: A qualified counsellor offers timely emotional support to individuals across our boroughs experiencing the psychological impact of sight loss Digital Accessibility Training: Training our seniice users to become confident in using technology. This includes mobile devices such as iPhones, Smart phones, desktop computers, Smart speakers and screen reading software such as NVDIA, SuperNova and many. more. Employment Support: Helping people with vision loss with their employment quest. giving them confidence and skills to progress in their job search. Braille Training: Offering personalised Braille instruction to those wishing to leam this important skill. Mobile Resource Unit (MRU): A converted motorhome that travels across all nine boroughs, providing access to assistive technology, eye health information, and sight loss awareness. Social Clubs: we foster connettion, well-being, and mutual support through our social clubs meeting regularly in all our nine boroughs. We also offer leisure activities such as our adapted tandem cycling club Page | 11
The Middlesex Association for the Blind Trustees, Report (including Directors, Report) For the Year Ended 31 March 2025 Services Highlights (continued) Holiday and club grants: We offer small grants for holiday and leisure purposes to individuals and clubs supporting blind and partially sighted people. British Wireless for the Blind Fund (BWBF): As agents of the BWBF, we distribute specially adapted radios to eligible individuals. Information and Advice Service: Providing trusted guidance and telephone support in response to a wide range of enquiries throughout the year. Visual Awareness Training: Educating our staff, volunteers and partners to deepen their understanding of the lived experiences of people with vision loss. Together, our services currently support over 600 service users on a regular basis, thanks to our team of committed staff and volunteers. Over the past year, our reach has extended to more than 1700 serrfice users. Our impact Impatt on our ser4ice users come in many different forms, ranging from building confidence, providing prartical help, emotional support and mental wellbeing, reducing isolation and promoting increased independence. We regularly gather feedback from our beneficiaries with a view to ensuring our services remain meaningful, relevant and impactful. We gUlarlY monitor all our services delivered and their impatt, for example as regards Digital Accèssibility ser4ice, we monitor the amount of training sessions delivered and number of users trained in assistive technology. Further details, including testimonials, are available on our website, aftb.org.uk. Performance and Financial Summary We are deeply grateful for the support of local authorities, trusts, philanthropic organisations, and individual donors who have provided the vital funding that sustains our services. As of 3 1 March 2025, our financial position is as follows: Pa8e112
The Middlesex Association for the Blind Trustees, Report (including Directors. Report) For the Year Ended 31 March 2025 Performance and Financial Summary (continued) Total funds carried forward: £788, 152 (£179,973 restricted) Total income: £861,809 Total expenditure: £532,801 Surplus/deficit before investment revaluation: £329,373 Net investment gains/losses: £(10,368) Total surplus/deficit for the year: £319,025 Important Context: This income includes £217,000 in estimated bequests (tirning of receipt uncertain) and our endowment fund of £120,001. We drew down £30,000 from the endowment fund in 2024/25 and are restricted to drawing only £30,000 annually for the next three financial years. Therefore, whilst our accounts show a healthy surplus, the majority represents either funds not yet received or endowment capital that must be preserved. Our available unrestricted funds for immediate charitable activities are lower than the headline figure suggests, but the Board remains confident in the long-term sustainability of the charity. standin Be uests: The charity has been notified of two significant bequests with a combined expetted value of £217,000, which have been included in legacy income (Note 2) and the reported surplus for this period. Whilst these bequests have been recognised in our accounts in accordance with accounting standards, the funds have not yet been received by the charity and therefore do not appear in our bank balances at the year end but are shown in debtors due after one year (Note 14). The timing of receipt for these bequests is dependent upon the completion of the respective estate administration processes, which remain ongoing. The trustees are confident that these funds will be received in due course and will provide valuable support for the charity's future activities. Page | 13
The Middlesex Association for the Blind Trustees, Report (including Directors, Report) For the Year Ended 31 March 2025 ResereS Polic Our Resenies 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 reserves are £516,843 of which £141,738 are invested in fixed assets and £Nil have been designated, leaving £375,105 (including £217,000 unpaid legacies). backed by debtors, bank balances and liquid investments, representing 8.4 months of operating expenses for the year ended 315t March 2025 of £532,801, of which £427,381 were funded from stricted funds. Restricted funds carried forward as at 31st March 2025 were £179,973. Acknowledgements We extend our heartfelt thanks to the London Boroughs of Barnet, Brent, Ealing. Enfield, Haringeyi Harrow. Hillingdon, Hounslow, and Richmond, as well as to: All individual donors and those who have remembered us in their wills Charitable organisations Our incredible staff and volunteers Rehabilitation Officers and Eye Care Liaison Officers (ECLOS) across the boroughs. as well as the Independent Living commissioners. Your continued support makes our work possible and transforms lives every day. trusts. philanthropies. and grant-making Looking Ahead (plans for future periods) As we look to the year ahead. our strategic priorities will focus on enhancing the quality and sustainability of our work, investing in our people, and strengthening the systems that support our mission. These priorities reflect our commitment to delivering high- impact services in a way that is both responsive and sustainable. Pa8e | 14
The Middlesex Association for the Blind Trustees. Report (including Directors, Report) For the Year Ended 31 March 2025 Looking Ahead (plans for future periods) (continued) l. Evaluatin Services and Stren thenin Financial Sustainabilit Maintaining the quality, relevance, and accessibility of our services remains a central priority. We will undertake a strategic review of our current service offerings to ensure they continue to meet the evolving needs of our beneficiaries. This will include evaluating service effettiveness, reach, and impact. Alongside this, we will review our financial model to ensure long- term sustainability-diversifying income streams. optimising resource use, and building financial resilience. 2. Investin in Peo le Devel men Our people are at the heart of everything we do. In the year ahead, we will prioritise initiatives that support staff development, promote leadership at all levels, and strengthen team cohesion. By fostering a culture of leaming, wellbeing, and collaboration, we aim to ensure our team feels empowered, valued, and equipped to deliver on our goals. 3. Reviewin anisational tr ure Processes To enable our continued growth and effectiveness, we will conduct a thorough review of our organisational structure and internal systems. This will help ensure we are working efficiently and are well positioned to respond to emerging opportunities and challenges. Aligning our structures with our strategic aims will allow us to operate with greater agility and maximise our impact. This fonvard-looking approach will help ensure we continue to deliver meaningful, high-quality support to those who rely on us- now and into the future. Page115
The Middlesex Association for the Blind Trustees. Report (including Directors. Report) For the Year Ended 31 March 2025 Governance and Compliance The trustees confirm that all operations are carried out in accordance with applicable laws and regulations. There have been no material instances of non-compliance during the reporting period. Trustees are covered by trustee indemnity insurance, which covers trustees for breach of trust or duty, or for negligence of care. Inde endent examiners In line with the Companies Act 2006 and the Charities Act 2011, the trustees have opted for audit exemption and have appointed Calculus Assurance Services as independent examiners. A resolution for their re-appointment will be presented at the Annual General Meeting. mall com an rovisions This report has been prepared in accordance with the small companies, regime under the Companies Act 2006. Approved by the Board on 24 July 2025 and signed on its behalf by: Ni" Mr N.M. Liddell Treasurer Date: 2910712025 LI)212015181s.1GGwT*ITr Mr R.N. Mehta Chair Date: 2910712025 Page | 16
The Middlesex Association for the Blind Trustees. Responsibilities in relation to the Financial Ststements The trustees (who are also dirertors 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, subjert 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 Art 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. Page | 17
The Middlesex Association for the Blind Trustees. Responsibilities in relation to the Financial Statements Approved by the Board on 24 July 2025 and signed on its behalf by: Ni NieÈl Kldell (Jul 29. 20 18.'35'.46GMT+il Mr R.N. Mehta Chair Date: 2910712025 Mr N.M. Liddell Treasurer Date: 2910712025 PaEe118
Independent Examinerfs Report to the Trustees of The Middlesex Association for the Blind For the year ended 31 March 2025 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 2025 which comprise the Statement of Financial ActNities. the Balance Sheet, Statement of Cash Flows and related notes which are set out on pages 21 to 37. 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 accordan 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 Charty Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs ststement 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 l am qualified to undertake the examination because I am a member of ICAEW. which is one of the listed bodies. 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: 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 Page | 19
Independent Examinerfs Reportto the Trustses of The Middlesex Association for the Blind For the year ended 31 March 2025 Independent examinerfs statement (continued) 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 wtth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in Ihe 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 2910712025 Page120
THE MIDDLESEX ASSOCIATION FOR THE BLIND 5TATEMENY OF FINANaALAcfNmES (INCLUDING INCOME & EXPENDITURE ACCOVNn FOR ThE YEAR ENDED 31 MARCH 2025 TOTAI FLINDS 2024 D FUIIDS D FUNDS 20Z5 Note No Incomeand Endowmwrt5fvam: DonatlOn5 ènd Legacs Charitsble A£tNlties Other Tratling AttwitS Investmeni income Total 251.276 27.550 12.975 5.636 297.437 345.184 82,319 ,ify) 4,768 o.(( 716,460 109,869 25,075 10.405 861.809 304,661 110,051 14.015 10.238 438.965 o.D)i Expenditure ¢m.' Fundraisinitradlng-. costs of goods soh Charitsble Ktivities I215 40.747 53,562 12.815 519.986 532.801 14,4147 536,255 550.702 478.987 478.987 252 252 Gain IL0551 from OperatMJns Net galn 1110551 on saleof In¥es¢rnwrt5 243.875 365. -34,616 119.749 329.LM)8 365 .111,737 18,826 incorne/Èxynditur¢ 244.240 .34.616 119.749 329.373 -92.911 Net Galns ILossesl ¢)n revaltsatlon dln¥estffi fjr055 transfers between lunds -11,93S -21,6C 1.$87 -30.)0 .10.348 -19.971 51.E Net mtyements In lunds 210.699 16. 91.336 319.025 -112,882 AECONCIUATION OF FUfvDS Total funds brought forward Total funds carried lorward 469 127 179 973 469 127 Total un$trICted Funds-A¥arf•ble Free ReseNe Tangible hssetsforown use 375,105 141738 162,389 143 755 The Th)tes on leS 24 to 37knm an ¥nte8ral partoftheseffinaKial ststemen
THE MIDDLESEX ASSOCIAYION FOR THE BLIND COMPANY NUMBER: 514204 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note No FIMÈd Assets Tangible a55ei5 Investments 12 13 141.738 407.011 $48.749 143,755 319.400 463,155 Current Assets Oebtors due within one year Debtors due after one year Cash at bank and In hand 14 14 40.235 217.1 55.962 313,197 -73,794 24.147 41.189 65,336 -59,364 Creditors: Amounts falli due wrthiTr orv*ytar Plet current Assets 15 239.403 5,972 Totsl assets less current Ilablllties 788 152 469 127 Tht lunds of the charlty: Endovmient funds Restricted fund5 in sur5 91.336 179,973 23, 26 162,983 Unrestrlrted fuftds Revaluation resèrve Balance Unrestricted funds less Tangible Assets Total unrestrlcted Available Fwee Reser¥e Tangible fixed Assets for own use 20 Totsl thartty fvnds 23 23 71,741 445.103 -141.738 375.105 83,675 222.469 -143,7SS 162,389 141,738 788 152 143.755 469 127 The board of trustees are satisfied the tharitable company Tr5 entitled to exemption from the reouirementto obtain an audit under section 477 of the Companies Act 2rJ)6 and no members have required an audlt in actordance with Section 476 The board ol trusiees acknowledge their fesp(ffisibilities for= lil ensuring that the company keeps accounting fecords which wmply with section 386: and lill preparing accounts which gtrve a true and fair view of the state of affair5 of the company as at the end of the financial year and of its sulUS Of deficit for the finanaal year In accordance with the requirèmènts of Section 396, 8nd whith otherwise cornp with the requirements of this Act relating to accounts, so far as applicable to the company. These account5 have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime and in ¥£ordance with FRS 102 and the Charilies SORP IFRS 1021. These financial statements 5Èt out on pages 21 to 37 wère approved and authorised for i55ue by the Trustees on 24 July 2025 and signed on their behalf by: Mr. Raj Mehta Chair- Dirertor Mr N.M. Liddell Trea5urer- Director 2910712025 2910712025 PagE122
THE MIDDLESEX A550CIATION FOR THE OUI STATEMENT OF CASH FLOW FOR ThEYEAR ENDED 31 MARCH 2025 2024 NetC45h flow5 frc¥n operating acty¥itit5 .77.129 Cashflows from Investing aubwthes.. Divide15, interest and simikir irKomefrom NNestnnts Incorne atcumulated Preceeds frorn sale of Snve51ments PurehJ5e of inve5tfrnts purcSe of fixed assets 10.405 .987 -649 10.238 76.520 44.208 -3.822 Net¢a$h Prove(l by (used inl inve#iartS -91.053 42.550 Cash flows from financinE thiths.. Repaymentof borrowings Receipt ol expendible endowment Payments from expendible end(Mment 120.Cfy) -30.¢XiI Net cash provKled (used in) fin4n(8 artr¥ittes Change incash and cash equi¥aknts in ptrKJ 14.773 -34.579 Cash and cash equlvalents aistart ol perK4J 41.189 75.768 Cash and cash equivalents atend of periLJ 55,962 41.189 ReconcillatN)n of net income I lexpenditurelto netcash flow from operatingacts¥its Net tt)rne Ilexpenditurel forthe pw Adjustments for.. DepreCtIon charKes (Gains) I losses on in¥estrrents Diwdends, interest and sirnilar incorne from instments Expendible eThJowment receTved Inetl Ilncreasel Idecrease in debtors In(reasel Ide¢reasel in cred¢0($ 319.025 -112.882 5.717 1,145 .10,238 9,983 .10.405 -233,088 14.471 9.382 29.747 Netcash pr¢)¥Kled ty (used inl iThvestinAactr#iteS 15 -77.129 Analysis of cash and cash equivalents.- Cash In hand Notice deposits Ikss than 3 month51 IrdraftaTrIIt1e5 repaYablE deffland 55.192 770 40.678 511 Total Cash and cash equivalents 55.962 41.189 Analysis olchonEe5 in ftetdebt.. Cash OUW24 Ilows 40.678 14.514 511 259 Non cash As at thènees 3U0312025 55,192 Cash Cash equivalents Loans repayable W¢hIn or* year Loans due after rnore than onEyear 4L189 14.773 55.962 The notes on pages 24 to 37 form an iMe8Trl part01t1Se ststemen Page123
The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2025 Summary of slgnlflcant accounting pokies (a) Gonernl iftfomiation and basi8 of preparation Middfesex Assoaation fof the Blind is a private c(Ynpany limited by guarantee registered in England and Wales Inumber 05142041 and registered as a charity wth the Charity Commission (number 2070071. In the event of the charity being wound up. the ltylty in respect of the guarantee is lTrrited to £1 per member of the charity. The address of the registered Offi is given in the char information on page 2 of these financial statements. The nature of the chanty's operalions and principal xtivrtw are suppyling blind, partialty blir¥J deaf blind FWI8 to lead Indepdent INes. The Charity constitutes a publ benefft entty as defined by FRS 102. Thefinancial statements have teen prepared in accordance with Accounting and Reporting by Charib"es.' Statement of Recommended Practice applicabk to ¢haribes preparing their accounts in accordance with the Financial Reportbng Stsndard applicatye in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the United lQngd¢yn and Republic of Ireland IFRS 1021, the Charities Act 2011. the C¢ynpanies Act 2006 and UK General Accepted Accounti Practice. The financial slaternenls are prep¥&J on a gorng concwn basis urKJer the historical c05t convention, mdified lo include certain items at fair value. The financial statements are presented in slerfing whh is the functhMal currency of the charty and rounded to the nearest £. The signfftcant accounting policies aFplied in the preparatti of these finarwl statements set out below. These polties have been consistenlty aPled to all years presented unless otherwise stated. (bl Fund¥ Unrestricted funds are available for use at the discretion of the trustees in furtherance ofthe general objectives of the charity and which have not been deswJnated for other purposes. Designated funds COMP unreslricled funds that have been set aside by the trustees for particular purposes. The aim and use of each desonated fiJnd 15 set (yJt in the note5 to the financial stslerneAts. Restricted funds are funds whtch are to be used in accordance with specffic restrictions imposed by donors or which have been raised by the charity for partthlar purposes. The cost of raising and administering such fvnds are tharg8d again$t the speofic fund. The aM w¥J use of each re$tr¢cled fund is set out in the rtoles lo the financial ststements. {¢) Incomo r•cognitlon AJI incoming resources are incfuded in Ihe Slalement of FInar1 ActTVtlies (SOFA) when the charity is legal entitled to the income after any perfomnce Cond"0n5 have been mel, the amount can be measured reliabty and it is probable that the inc8 will te receNe For donalKns to be recognised the charity wiw have been notified ofthe amounts and the settlement dale in wriling. If there are condrtion5 attached to the donth.on and this requires a level ¢?f perform*re before entitlement can be obtained then Inne is deferred until Ihose conditions are fully rnet or the fulfilment of those condtbons 15 Wrthin the control of the charity and it is probable that they will be fulIeJ. Voluntary income incfuding donalions and granls that provldec0refvndw orare of a general nature is recognised where Ihece is enknllement. certainty of receipt and the amount can be measured with sufficient relbIl. Donated faeilrties and donated professKJnal services are recognised in income at their fair value when their economic benefit is probab. il can be measured reliably, and the ehanty h85 control over the item. Fair vafvJe is detem)ined on the basis of the value of the gift lo the harity. For example. the amnI the charity would be willing lo pay in the open market for su¢h facilities and services. A corresFwding amount is recognised in expenditure. Page124
The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2025 (cl Incomo rncognition {continued) No amount is included in the financial ststemerts for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual ReporL Vthere praclicable. gffts in kind donated for distrbutK)n lo the beneficiaries of the charty are included in stock and donations in the financial statements upon receipt. If il is impracticable to assess the fair value at recwpt or rf the costs to undertake such a valuation OUe19h any benefils. then the fair value is recognised as a component of donations when it 15 distributed and an equivalent amount recognise¢J as charitabte exFenditure. Fixed asset gift5 in ksnd are recogni$ed when re¢vats and are induded at fair value. They are not defeed over the lrfe of the asset. For legacies, enttsmenl is the earfier of the charity being notified of an impending distributton or the legacy being received. At this wint income ts recognised. On O¢CaSKJn legacies will be notified to the charity however it is not rKMble to measure the amount expected to be distributed. On thes8 occasion5. the legacy is treated as a conbngent asset and disclosed. Incomefrorn trading activiknes includes income eamed from fundTai5ing events and trading activities lo raise funds for the chèrity. Income frcm charitsble activilies includes "eamed" income received in exchange for supptying gts)d$ 8nd sef¥Kes in order to raise lunds and is recognised when enlittement has occurred. The charity receives govemment grants in respect of serwces provided to blind or pa'alty sighted bene["ars. Income from government and other grants a recognised at fair value when the charity has enlillemenl after any performarKe conditions have been met. it is probable that the income will be receNed, and the amount can be measured lIablY. If entitlement is not met. theft these amounts are deferred. Investrnent coMe is eamed through hoN4ing assets for investment purposes such as shares and property. 11 includes dividends, interest and rent. Vthere it ts not prnctKable to identy investment management costs incurred within a scheme reasonable accuracy the investment income is reported net of these costs. It 15 included when the amount can be measured reliably. Interest income is recognised using the effective interest meth(xJ and dividend and rent income is iecognised as the charity's right lo receNe payment is established. Other income includes gains on disF)sals of investments and tsngitrAe fixed assets. (dl Exp•nditure rncognitio AJI eXnditre is accounted for on an ac4yuals basis and has been classifd under headings that aggregate all costs related lo the category. Expenditure ts recognis8d where there is a legal or constructive obligation to make payrnenls to third parties. rt is probab that the settlement will be required. and the amount of the obligaknn wi be measufed reliabty. It ts categorised under the following headings.. Costs of raising funds irluc*S the costs assock3ted wilh attracting voluntary income and the Costs of trading for futyj raising purFY)ses'. Expendrture on thantable thties includes comF)Ttses those costs incurred by the charity in the delivery of its aclivitres and Serv for its benef¢iaries. it Fncludes both costs that can be allocated dire¢tty and rndirect support costs" and Other expenditure represents those rtems not falling into categories above. Irrecoverable VAT 15 charged as an expense again51 the activity for which expendrture arose. Grants payable to third partES are within the charitable oty'ecttves. Where un¢ondilional grants are offered. this is accrued as soon as the recipient 15 notffied of the grant, as this gives rise lo a ieasonable exFeclation that the recipient will [¢ve the grants. Where grants are coThJitional relating to performance then the grant is onty accnjed when any unfUlfild cOnd.0nS are oUtse of the control of the charity. Page125
The Middlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2025 Idl EXPendir• rttognilioD q¢onlinued} Grants payable without perfom)ance CondinS are only recognised in the accounts when a commitment has been made and there are no Condrts to be met relating to the grant which remain in the contrcd of the charty. ProviOnS for grants are made when the intentKsn to make a grant has been communicated lo the reupient bLrt there is uncertainty atK)Ut either the timing of the grant Of the amount of grant payable. {•) Support ¢08ts allocation Support costs are those that as%st the work of the charity bul do not directly represent charitable tivities and include office costs. govemance costs. administratNe payr1 costs. They are incurred dIdY in support of expenditu on the objects of the charity and include project managemenl carried out at Headquarters. There suprth costs cannot be directy attribuled to particular headings, they have been alk¢aled lo cost of raising fvnds and expenditure on charitable aclivitres on a basis Cc$1$1ent with use cl the resources. Premises overheads and other overheads have been allocated in w0portn to the salary eosts incuTTed in delivering the projed or seThice. Fund-raising costs are those incurred in seeking voluntsry contributions and do not includg the sls of disseminabng rnfomwtion in supptrt of the charitabie 8cINities. The anatysis of these costs is included in note 7. (l) Tangible fix a88ets Tangible fixed assets are stated at cost {or deemed cost} or valUatit less accumulaled depreeiab.on and accumulated impairment h)sses. Cosi includes costs directy attributable to maing the asset capable of operating as intended. Depreciation is provKted on all tsngknle ffixed assets. al rntes calculated to wrrle off the cost, s¥ estimated residual value, of each asset on a 5yslematic basi5 over ils expected useful lrfe as follows.. Leasehdd land and buikjings Straighl &ne over the shorter of the lease tem) and 50 years 25% on written down valL* 25% on written dcmn val Plant and machinery Motor vehicles (g) Investmonts Investrnents are recognised initiaty at fair vdue Wh i8 normalty the transaction price exduding transaction costs. Subsequendy. they are measured al fair value with Changes recognised in 'nel gains I Ilossesl on investrnents, in the SOFA rfthe shares are publth traded OT their fair value can othemise be measured reliabty. Other investsnents a measur&J al cost less impairment. Current asset inve5tmerhts are short teffli hwjhty liquid investments and are held at fairvalue. These include cash on deposit and &7sh equivalents with a matunty of less than one year. Realised gains and losses on investments are caknlated as the dffterenee beiween Sa Prd$ and their market value at the start of the year, or their subsequent cost. and are charged or credited to the Slalemenl of Financial Acth"vrties in the period of disposal. Unrealised gains and knsses represent the movement in market values during the year and are credited or charged to the revaluation reserve based on Ihe market value al the year end. Page126
The Middlesex Association for the Bllnd Summary of Significant Accounting Policies For the year ending 31 March 2025 (h) Cash and ush equivalonts Cash presents cash in hand plus bank balances immediately available to Ihe Charity. Cash equwalents are bank balances hekj on short temi deposrt available to the charty at up lo three months. notKe. li} D¢btorn and crrydftors rKeivabkn I payabb withln on• year Debt$ and creditors with no stated interest rate and receiv8te or payabl& within one year are recorded al transaCtn wice. kny losse5 ariwng impainrent are recognbsed in experltUre. lil Impairnienl Assets not measured at tsir value are revwwed for any iTraubon that the asset may be impaired al each balance sheet date. If such indication exi51s. the recoverable amount of the asset, or the asset's cash generating unil. ts eskn"rnated arKI compared to the carrying arnount. here the carrying amount exceeds its recOVerae amounL an impairment Ioss i8 iecognised in profit OT Ioss unless the asset is carried at a revalued amount where the impawment loss is a revaluation decrease. Ik) Provlsions Provisions a recr)3nised when the chanty has an 0¥tIOn at the balance sheet date as a result of a past event. il is probable that an of economic benefits will be required in settbemenl and the amount can be idiabty estimated. (l) Lthises Assets acquired under finance leases are capilalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease paynts are appoth'oned btheen the finance charge and the reduclion of the outstandin9 lease liability using the effeclive interest method. The related ob1igans. net of futu final charges. are induded in tyeditors. Rentals payable and recavable under operating leases are charged to the SOFA on a straight Ibne basis over the period of the lease. m) Employee bengrts IMen 8mpbyees have rendeTrd swvice to the chanty. slth-term employee benefrts to which the employees are enbtled are recognised at the undtscnted amount expected to be paid in exchan for that Serv. The eharty operates a defined contitlution plan for the benefit of its employees. Contributions are expensed as they become payab. (nl Tax The charity ts an exempl eharity within the meaning of schethjle 3 of the Charilies Act 2011 and is considered lo pass the tests set in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitsble Company for UK corFMy*"¢)n tax purposes. lo) Golng ¢onurn The fi'nancial statements have been prepared on a going concwn basis as the trustees believe that no material uncertainties exist {5ee Irl bel). The trustees have (xJnsKbered the level of funds held and the expected level of Ire and exFenth"ture lor 12 months from authorising these financial statements. The budgeted income and expenditure 15 Sulf"ent wrth the level of reserves for the charity to be able lo Continue as a going ConM. Page | 27
The Mlddlesex Association for the Blind Summary of Significant Accounting Policies For the year ending 31 March 2025 Ip) Financial instruments Financial instnjments such as accounts recewable. aCcJn ptyable and cash are classified either as basic or eomplex. All financial instruments are inilialty measured at their fair values at time the transactions occur. Subsequentty all bas instruments are measured at amortised cost and all complex financial inslruments a measuTed at a fair value through the ststemenl of eomprehensive income. Financial instruments hekl by the charity are classified as foN(P.. Cash is held at cosL Investrnents are held at fair %plue. Financial assets such as debtors a held at amorbsed cost sing the effective interest method. Financial liabl"e5 such as ereditors are held at anorttsed cost using the effedive interest method. Iq) Judg•mgnts and key SOU of eslimalion un¢ertalnty The following judgements (apart from those invokn.ng estimate5) have been made in the process of apptying the above accountiry poltcies that have had the most snIficant effect on amounts r&ognised in the financial slalements" Where income received for srwAfic projects that inwme is reeogni5ed when the project is delivered unles5 the income is specfft to certain expen.diture for exampk, salary costs or purchase of equipment, in which Case the income is recognised when the expenditure is incurred. I financial inslwments we bas instruments. The key assumptions conceming the future and other key sources of estimation uncertainty * the reporting dale Ihat have a signrfunt risk of causing a malerial adjuslment to the carrying amounts of assets and liabilth'es wrthin the nexl financwl year inckKIg: Useful economic INes of fixed assets have been compar&J to past experience or in relati(yn lo buildings and swnfficant components therein. on recommended lie rycle replarnent period. Bad debt provisions a based on past experience for personal debtors while amounts receivable fr(Yn local aulhorits and healih authoribes are regarded as recoverable in full unless a spectfic query has been l¢)dged which is PTOVKled against in full. Ir} Going conc•rn un¢•rtainty In common with most UK charrties the charitable company dependent on bèing able to raise funds to continue ils actiw.lies when existing sources come lo an end. The charity is aclivgly fundraising throughout the year and receNes donab.ons and grants from individuals and organisalions either on a on&off basis or for a SpeUr time. The charity hdds reserves lo provide working caprtal lo sm¢]oth the operational cash flow and allow projects to be wound dovdn in an organised way when funding ends. There is no indttkn.on that fUte funding wmi eease e4xnplel and therefore the charity remains a going eoncern. Page128
ThE MIDDLESEXASSCQAIKJN FOR7HE•UND NOTESTO FINAN0$TATEmEITs YEAR ENDED 31 MAM 2025 FUNOS JND5 FUI FUNDS FUtr4DS 1014 Appe¥s and dati5 Le8acs 23.586 Y5.J84 110m 48&77 227. 227.69) 45.456 256.7fy) 301156 2.505 345.184 47961 2k7.( 217.LKI) LEiaiieS intlude twa ¥nthnt leptie5 hkn to thE thatity. Lwrt nDt recer durkiE the yTar •Ad ate not Èxpected to cwYeddurin8the next twd¥e montF FUPJLS FUNOS FVNDS 14 Lucèl authtsrityGtarrt5 Grants- otheragenues 41319 17550 7S.101 75,101 a4,950 yg50 27.SSO ICg.869 7S.101 110.051 P4nlZ
rwmsTO FINAXCIAISTATEhtt•lTS YEARtI¢DED 31 MAR(H 1025 4 Othertradlwa¢Ubtr5 FUNOS pJM¥s RJMJS FVNP5 FUIAJS H)MD5 2024 Students secondrnents&vair Proviskn of CRB5eNc¢510 PwinEr5 Fundra551n8 sale5. commwion5and entryfee5 Other Incorne 12,ILkl i(¥J 140 L775 140 L775 1.725 1125 i.n5 I10 Il975 .075 1,415 12.1 14.015 FUNOS Ful$ INDS FUlttbS WND5 Interest recvab Incomfrom li5tedinvf5brnnts 61 61 10.177 4.770 9.S38 10.405 3.737 3,737 4.768 6,501 FUt40S FV FiWID FiIND5 JND5 2014 Ctsstof84od sold Fundrai5ingcoSts 11815 12.815 14.447 14.447
TME OisEXA55QC17klNF0R THEW r4DIE5TQFiPwiaSrA1EMEl4r5 YÉAEtIDED 3ipIAKH2QIS 221516 I?. 6D.I ÉmployThwDtknkq5 iIPeSeDN¢ Cèun5Ellbn8Setwice 41.459 Zt IQ471 17369 19.611 4iro6 04p Il824 .IL FUndialgni&OIWThts MDbilERE5QWteUnit 15.622 795 li.Y66 41.791 Sa(1¢1 226 SD[ialb rVErnan(È(otst D47 27m6 31.079 1491 1.150 5wiMwtC05tslNlltE7I1 1135Yg1 Sumrnlry FlisIn 12AIS Fw•rA IW7 354.*7 isi
THEMDLE5Ex5S0cKI1v4RwyHEl1X NLTtESTOFIl4•J4(14LSTATEWlITS 7•SUFPLIKfco57 nk(haNos& aanlrx Pand1th>( 136 L447 ¥447 I,Q43 721 35.472 i]B¥ 44¥ Insu¢ RopJil5&MJlnl¢fiir< Tdephonek LeRIl &ProlÈ&&ion ertiSinA 5taNfriinini&Wdf4t4 ¥lJ2 ¢4 X4$2 9JSI 159F 1.597 I3 3.997 1997 eoukkEEkY 5tJff l¢rryitrnenlC0515 3?1 5.5EQ Imi 3.675 1.192 U91 1672 3.675 PrIrrt& Po5tw&SUthMIry 0rSta Cost Gowerft•ecO5I wrJe5 r£¥•rotW 17J 11.444 1%6Y 6J.12 59.83 59.85B Ptybl$2
THE MIDDLESEX ASsoaATION FOR THE BUND NOTES TO FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 8 Trustees. remuneratltyi and expenses and don05 No trustees received any remuneration during theyear. No tnMee5 tiVe any expenses during the year. Trustee donations receiled in the year armunted to £551 (via CAFI upon which Gift Aid of £nil wa5 recoverable. 9 Surplus1 Ideffi¢ltl 15 ststed after I luedltk¥)". 2025 2024 Net Incorne is stated after dwrgi Seryices of lThdependent Examiner.. Independent Examination Indeptn¢Jent Examination- prioryear .. Accounts preparation .. Accounts preparation- prior year Operating lease rentS Depreciati(trn of tangbblefixed assets 2.155 618 1,525 2,746 2,067 1.930 5,491 10 Ernployees, remuneration The èverage number of persons employed bythe charitylintludingtrusteesl during the year. analysed by category, was as lollows_' 2025 2024 No 19 2015 FTE 12.85 2024 FTE 13.90 Charitable actiwtiès Governar 19 As well as paid staff the charity ha5 a committed and group of regular voluntews a55ting in the delivery of services. which analysed by cate80ry. as follow5= Charitable activities 5.95 The aggregate payroll costs ofthese persons wtre as fdlows: 2024 Wa8e5 and salzries Social security Costs Other pension costs 401.891 24.081 7,935 433 907 395,833 25.330 7,394 428 557 Amount charged tothe Statement of Financial Achvi in respett of defined contribution pension an$= No employees were paid £60,CKKlor above per annum. The a688aLe payroll costs of key managempnt persmnel were as ft)Ilows: 2025 2024 Wages and salaries Social security cost5 Other pension costs 44,160 4,839 1,138 5,369 1.253 11 T*10Th The company is a le81sred charity and is1herefo exempt frorn allon. PW133
THE MIDDLESEX ASSOCIAnON FOR THE BUIIO NOTES TO FINANCIALSTATEMENTS FOR ThE YEAR ENDED 31 MARCH 2025 Tan8iblfiJted •ss¢ts FixfuRES FITTt14GS & VEIICLES TOT A L fQUWlEMTS Asat t Awq 2024 ia4.633 49.147 26J.133 Asat31 2025 1a9633 271 955 0gw4¢1atlon A¥ at 1 +rl 2024 Chwgeforthe •r 51.65$ 4791 25.759 124,376 5,839 Ast31 AIArth 1025 130 217 at31 Mrth2015 134.106 5.915 1.637 141.73 At31 2074 14J75S oflthbd bd buMdlW Frqthc4d Lon9 a5CId Iwe•rthe SOfvArs 134.1•5 13 Markdvalue A5 at l April 2024 Accured Interest irKome Investment Addition Accured Intere income 2025 Investments wrthdrawn Investmeni income Investment managementfees IL0551 onthe sale of investrnents Gains on the Sale ol investrnents Gainsllossl on the valUatION of Mwe5bMnts As at 31 March 2025 319.4DJ 319.100 352.857 gJ.fiJD 9.$39 .2.$52 10.178 .2.4 .$253 24.079 1.$07 91.947 -10•7 407.011 -19.971 3IS.061 319.400 Plet Bookvalue A5 at 31 March 2025 As at 31 March 2024 31940D 352 857 l invesiment assets We hekl in the UK as tolkn¥s. x 2•24 Cash balances Listed inve5trnents 49.4SS 257 556 407.011 12.B01 308.599 319.400 14 Oemoys 25 Trade debtors Prepayments and acctued income Accrued incorrÉ lover l yearl 37.027 217.C 757.23S 16,957 24,147 Included above-. Oebtors ceIVable ITr n)rethan oneyearllegaciesl 217.r The charity ha5 been notifd of iwo slgnffj¥nt legacs txrt the lurbds wll not retewed until the estate adrnini5tratioo has Cornped. which 15 esbrnated totake upto twoyear5. Pagel 34
ThE MIDDLESEX ASSOCIATION FOR THE BUND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR EPIDED 31 MARCH 2025 IS Creth>ts'. Affints111knYthwftThID0ner 2025 24 Trade creor(ors Taxation and 50ciai security Accruals and CreditOf5 Dettered Income INote 151all 5.671 7.DJ$ 7.746 S3.D52 73.794 7.527 3.490 42.216 Funas hwd as Custodian trusree incluaeo within erahto 3.459 These tunds represents grants PayaDie t(1 inuividuals ty ch3rtlie5 are paid across to those indivK1uals overthe course of the year. See note 1Slbl below. Islal Deferred income 2•24 Brought lorward Released ifi tr year Deterred In year Carried torwaT 42.218 42.2115 $3 082 S3.0 23.U6 42.216 47.216 Islbl FU¢14 asaty¢oitsn tntstee 2025 Brought iorwar Received in year Released in the yeaf Carr0 rWar J.499 -2.ONJ 3.459 2.000 16 Relatsd party traal$ Mr R Mehts 15 a irustee TrfThorna5 PotklinY Trust whDwovK1ed durins the rended 31 Marth 2025 f E4,(N)J12024.. £10,CLKII. Mr Mema noi in eitherthe yart altation OrCrSideTa1i0n0fthe award. Mi 8 Hindocha is a tnsteeofLon(k>n rdeGreeTh iwSbO wo¥thddorwin5OfE3I dntheyearended 31 March 202512024." £2,IXY)I- 17 Members. lIa"11ty The thwity is a privatecompanylwited gUaranteeand cotysefwemty th)es not have 5harE rdpital. Eath ofthe members 15 liabfeto Cgntrit¢an ant notexceth8£1 tO¥Ardstheassetsofthetharity in thee¥Eni ot liquidation. IB ControlMr¢ en TCharIty ts contro1bythe TWee$te3 threaNsoftheCofflpJnv. 19 Suwuent Everts Ilote ThEre havE been noe¥entsaffectR)gthe assets orf•athtial kwit*?nOIdritya1 31 Marth 2025. 20 An•lri$ of net assets ttheenfvnds Umestrirted Re#rittÈd Endtswmert luftds funds funds 21125 2025 Totsl fvnds 2025 Total funds 20Z4 Current year InvestmeNs Cuvrent a55et5 Creditors within one year 175.675 273.224 .73.794 140X 39.973 9L336 407.011 313.197 -73.794 319.4fy) 65.336 -59.364 Ffjxed assets 141.738 141.738 143,755 Tot41 tunds Prior year funds funds nd5 2024 2014 Investrnents CufrÈnt èssÈts Creditor5 Wlthin one year 179.4fy) 42.3S3 -59,364 140.( 22.983 319.4 65,336 -59.464 aSl8S7 109.297 -29,617 Fi¥eii assets 143.755 143,755 149.472 Pagel 3S
THE MIODLE5EX IoCIATIoN FOR THE BUIID NOTES TO FIW4CIAL STATEMENTS FOR THE YEAR EP4DEO 31 MARCH 2025 Zl Opefatln¢ltast ¢¢Mnmitments The future mlninwjm lease p3yments under rn-ca[lIats1e aSe5 asf011¢. 2025 2024 Withinone year Between one and two years Between two and five years 'rotai 6,532 3J66 6,532 6.532 3.266 Contraciual comrnitrrEnts loribe acQutn of ifitsngible and taTrÉible fixed assets contracted for Out provided in thefinanckql siaierr£nts amounted to £-12024E-I. 23 Fun05 2025 nds fvnds funds As at l April 2024 Net Incoming Resources Capital Gains Realised gains Transfers between funds 83.675 221469 243A75 162,983 -34.616 469,127 329,(M)B -10,347 365 119,749 .11934 365 .2L( 51,f .30,(L¥J Z024 Itevakntk>n Lknrestricted fte51rfrted Ertdowmeth Toial re5erye funds fvnds fvnds fvnd$ As at l AprTrl 2023 Net Incoming Restyjrces Capr(al Gains Realised gains Transters between fund5 As at 31 March 2024 103.646 319520 .m4A68 158.843 -7.169 58IOOg -LIL737 -L145 -L145 -18.826 1&826 .11.409 11.409 24 Fin•n(iil Instrumeni% . FIn*I•l Assrts 2024 FInala1 assets m&Thiredat1ay1Iue Investments 357.556 306599 Flnaficial assets m&Kvred at3m0rd fTade debtors 40.235 24,147 Fin•n¢ial asstts me•syred at ¢ost Cash and cash equivaleTht5 105.417 53.99) rotsl finabal assets P•p136
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