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:
207￿7
•AE8E0￿S.
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
Reser￿eS 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 Legac*s
Charitsble A£tNlties
Other Tratling Attwit*S
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
I2￿15
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 sur￿5
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 su￿lUS 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..
Divide￿15, interest and simikir irKomefrom NNestn*nts
Incorne atcumulated
Preceeds frorn sale of Snve51ments
PurehJ5e of inve5tfr*nts
purc￿Se of fixed assets
10.405
.987
-649
10.238
76.520
44.208
-3.822
Net¢a$h Prov￿e(l by (used inl inve#i￿art￿￿￿S
-91.053
42.550
Cash flows from financinE thiths..
Repaymentof borrowings
Receipt ol expendible endowment
Payments from expendible end(Mment
120.Cfy)
-30.¢XiI
Net cash provKled ￿ (used in) fin4n(￿8 artr¥ittes
Change incash and cash equi¥aknts in ptrK*J
14.773
-34.579
Cash and cash equlvalents aistart ol perK4J
41.189
75.768
Cash and cash equivalents atend of periL*J
55,962
41.189
ReconcillatN)n of net income I lexpenditurelto netcash flow from operatingacts¥it*s
Net ￿tt)rne Ilexpenditurel forthe pw
Adjustments for..
DepreC￿tIon charKes
(Gains) I losses on in¥estrrents
Diwdends, interest and sirnilar incorne from in*stments
Expendible eThJowment receTved Inetl
Ilncreasel Idecrease in debtors
In(reasel Ide¢reasel in cred￿¢0($
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
I￿rdraft￿aTrIIt1e5 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 part01t1￿Se 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 l*tylty 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 Indep￿dent
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 wh￿h 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 aP￿led 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$t the speofic fund. The a*M w¥J use of each re$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 FInar￿￿1 ActTVtlies (SOFA) when the charity
is legal￿ entitled to the income after any perfom*nce Cond￿"0n5 have been mel, the amount can
be measured reliabty and it is probable that the inc￿8 will te receNe
For donalK*ns 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*r￿e before entitlement can be obtained then In￿ne 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 fu￿lIe￿J.
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 rel￿bIl￿. 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 am￿nI 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 OU￿e19h 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$ed
when re¢￿vats￿ and are induded at fair value. They are not defe￿ed over the lrfe of the asset.
For legacies, enttsmenl is the earfier of the charity being notified of an impending distributton or
the legacy being received. At this wint income ts recognised. On O¢CaSKJn legacies will be notified
to the charity however it is not rKMble to measure the amount expected to be distributed. On thes8
occasion5. the legacy is treated as a conbngent asset and disclosed.
Incomefrorn trading activiknes includes income eamed from fundTai5ing events and trading activities
lo raise funds for the chèrity. Income frcm charitsble activilies includes "eamed" income received
in exchange for supptying gts)d$ 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[￿"ar￿s. 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 eX￿ndit￿re is accounted for on an ac4yuals basis and has been classif*d 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 ir￿luc*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 unfUlfil￿d cOnd￿.0nS are oUts￿e
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 EXPendi￿r• rttognilioD q¢onlinued}
Grants payable without perfom)ance Condi￿nS are only recognised in the accounts when a
commitment has been made and there are no Condrt￿s to be met relating to the grant which
remain in the contrcd of the charty.
Provi￿OnS 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 payr￿1 costs. They are incurred
dI￿dY 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$1ent with use cl the resources.
Premises overheads and other overheads have been allocated in w0port￿n to the salary eosts
incuTTed in delivering the projed or seThice.
Fund-raising costs are those incurred in seeking voluntsry contributions and do not includg the
sls of disseminabng rnfomwtion in supptrt of the charitabie 8cINities.
The anatysis of these costs is included in note 7.
(l) Tangible fix￿ a88ets
Tangible fixed assets are stated at cost {or deemed cost} or valUatit￿ less accumulaled
depreeiab.on and accumulated impairment h)sses. Cosi includes costs directy attributable to
maing the asset capable of operating as intended.
Depreciation is provKted on all tsngknle ffixed assets. al rntes calculated to wrrle off the cost, ￿s¥
estimated residual value, of each asset on a 5yslematic basi5 over ils expected useful lrfe as
follows..
Leasehdd land and buikjings
Straighl &ne over the shorter of the lease tem) and 50
years
25% on written down valL*
25% on written dcmn val
Plant and machinery
Motor vehicles
(g) Investmonts
Investrnents are recognised initiaty at fair vdue Wh￿ i8 normalty the transaction price exduding
transaction costs. Subsequendy. they are measured al fair value with Changes recognised in 'nel
gains I Ilossesl on investrnents, in the SOFA rfthe shares are publth traded OT their fair value can
othemise be measured reliabty. Other investsnents a￿ measur&J al cost less impairment.
Current asset inve5tmerhts are short teffli hwjhty liquid investments and are held at fairvalue. These
include cash on deposit and &7sh equivalents with a matunty of less than one year.
Realised gains and losses on investments are caknlated as the dffterenee beiween Sa￿ Pr￿d$
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 receiv8t￿e or payabl& within one year are
recorded al transaCt￿n wice. kny losse5 ariwng impainrent are recognbsed in exper￿ltUre.
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 recOVera￿e 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 pay￿￿nts are appoth'oned btheen
the finance charge and the reduclion of the outstandin9 lease liability using the effeclive interest
method. The related ob1iga￿ns. 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 undtsc￿nted 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 Ir￿￿e 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 Con￿M.
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. aCc￿Jn￿ 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 s￿nIficant 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 repla￿rnent period.
Bad debt provisions a￿ based on past experience for personal debtors while amounts
receivable fr(Yn local aulhorit*s 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 fUt￿e funding wmi eease e4xnplel* and therefore the charity remains a
going eoncern.
Page128

ThE MIDDLESEXASSCQAIKJN FOR7HE•UND
NOTESTO FINAN0￿$TATEmE￿ITs
YEAR ENDED 31 MAM 2025
FUNOS
JND5
FUI
FUNDS
FUtr4DS
1014
Appe¥s and d￿ati￿5
Le8ac*s
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&vai￿r*
Proviskn of CRB5eNc¢510 PwinEr5
Fundra551n8 sale5. commwion5and entryfee5
Other Incorne
12,ILkl
i(¥J
140
L775
140
L775
1.725
1125
i.n5
I1￿0
Il975
.075
1,415
12.1
14.015
FUNOS
Ful￿$
INDS
FUlttbS WND5
Interest rec*vab
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 ￿￿Oi￿sEXA55QC￿17klNF0R THEW*
r4DIE5TQFiPwia￿SrA1EMEl4r5
YÉA*EtIDED 3ipIAKH2QIS
221516
I?.￿ 6D.I
ÉmployThwDtknkq5
iIPeSeDN¢
Cèun5Ellbn8Setwice
41.459
Zt
IQ471
17369
19.611
4iro6
04p
Il824
.IL
FUndialgni&OIW￿Thts
MDbilERE5QWteUnit
15.622
795
li.Y66
41.791
Sa(￿1¢1
226
SD[ial￿b
r￿VErnan(È(otst
D47
27m6
31.079
1491
1.150
5wiMwtC05tslNlltE7I1
1135Yg1
Sumrnlry
F￿lisIn
12AIS Fw•rA
IW7
354.*7
isi

THEM￿DLE5Ex￿5S0cKI1￿v4RwyHEl1X
NLTtESTOFIl4•J4(14LSTATEWlITS
7•SUFPLIKfco57
nk(haNos&
a*anlr*x
￿Pand￿￿1th￿>(
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
I￿3
3.997
1997
eoukkEEkY
5tJff l¢rryitrnenlC0515
3?1
5.5EQ
Imi
3.675
1.192
U91
1672
3.675
PrIrrt￿& Po5tw&SUthMIry
0￿rSta￿ 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 don￿0￿5
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 rent￿S
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 a68￿8aLe 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 le81s￿red charity and is1herefo￿ exempt frorn ￿allon.
PW133

THE MIDDLESEX ASSOCIAnON FOR THE BUIIO
NOTES TO FINANCIALSTATEMENTS
FOR ThE YEAR ENDED 31 MARCH 2025
Tan8ibl*fiJted •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
As*t31 AIArth 1025
130 217
at31 M*rth2015
134.106
5.915
1.637
141.73
At31 2074
14J75S
oflthbd *bd buMdlW
Frqthc4d
Lon9 ￿a5￿CId 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 notif*d of iwo slgnffj￿¥nt legac*s txrt the lurbds wll not ￿ retewed until the estate
adrnini5tratioo has Cornp￿ed. 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'. Affi￿nts1￿11knYth￿wftThID0ne￿r
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
$3 082
S3.0￿
23.U6
42.216
47.216
Islbl FU￿￿¢14 asaty¢oitsn tntstee
2025
Brought iorwar
Received in year
Released in the yeaf
Carr￿0 ￿rWar
J.499
-2.ONJ
3.459
2.000
16 Relatsd party tra￿a￿l￿$
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 a￿ltation OrCr￿SideTa1i0n0fthe award.
Mi 8 Hindocha is a tnsteeofLon(k>n r￿de￿GreeTh iwS￿b￿￿O wo¥thddorwin5OfE3￿I d￿n￿theyearended
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 Cgntri￿t¢an an￿￿t notexceth8£1 tO¥Ardstheassetsofthetharity in thee¥Eni ot liquidation.
IB ControlMr¢ en
T￿CharIty ts contro1￿bythe TWee$t*￿￿e3￿ threaNsoftheCofflpJnv.
19 Suwuent Everts Ilote
ThEre havE been noe¥entsaffectR)gthe assets orf•athtial kwit*?nOI￿d￿ritya1 31 Marth 2025.
20 An•lri$ 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 I￿oCIATIoN FOR THE BUIID
NOTES TO FIW4CIAL STATEMENTS
FOR THE YEAR EP4DEO 31 MARCH 2025
Zl Opefatln¢ltast ¢¢Mnmitments
The future mlninwjm lease p3yments under r￿n-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 acQu￿t￿n 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
FIna￿la1 assets m&Thiredat1a￿y1Iue
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 fina￿bal assets
P•p136

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4uJ?I
*J
ujy
EEEEE
ILI
7JY
471
Lh
4x1
J3
.]7311
51.K
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EY￿￿%￿re
P•lY