COMPANY REGISTRATION NUMBER,. 00149982 CHARITY REGISTRATION NUMBER: 214131 Cardlff Institute For The Blind, (Incorporated) (The) Company Limited by Guarantee Financial Statements 31 March 2024 CARSTON ETL Chartered accounlants & statutory auditor 1st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ Cardiff Institute For The Blind. (Incorporated) (The) Company Limited by Guarantee Flnanclal Ststements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs rep)rt) Independent audilorfs report lo the members Statement of financial actrvities (Including income and expenditure account) Statement of financial position Statement of cash flows 10 14 15 16 Noles to the financial statements 17 Cardiff Institute For The Blind. (InGorporated) (The) Company Limrted by Guarantee Trustees. Annual Report {Incorporating the Dlrectorfs Report) Year ended 31 March 2024 The Injstees, who are also the directors for the purp)ses of cThmpany law. present Iheir report and the ffnan￿a1 statem8nls of the charity for the year ended 31 March 2024. CHAIR'S REPORT Two thgmes stsnd out during the year - no￿￿TkIng and confidence buildlng. With Covid-19 largely behind us and the de-merger from the RNIB D)mpl8te. we thrgw ours8fves into getting out and aLN)ul. We want Sight Lrfe- and awareness of slght ksss- to be an everyday p8rt of Ilfe in south Wales. Recent netV40rking exam ￿eS Inc￿de Monmouthshlre 8uikling Sodety (M8S), the team from Cardlff Counul Highways deparlment 8nd the National Museum of Wales. We help MBS staff understand Ihe needs of blind and partidly sighted customer5 and how to meet Ihem. We also gfter MBS stsff Ihe chance lo voluntoer with u$. Slmilarfy, we provida Iralning lo members of Cardiffs Hlghways tèam so they h8Ve 8 better apprec4atlon of what It's lik8 lo navigate the citys streets. Wilh thi$ knovAedge they can make the Ilves of ourmembers much easler thanks lo Small changes to nthv paving and road crosslngs 8t the degign siage. Our ongoing ￿N8b0r8ti0n wlth the Natlonal Mu88um of W810s - induding Sl Fogan8 - means Ihelr stoff are G￿ridant dealing with people who have 5rght knss. And our trip8 to the Museum's siles - along vAlh rpmbl&s and theatre visits - are among the mo* popular activitl8s we organi8e, We continue to work dosely with public sector Partne￿ across Cardtff. Sw8nsea and Rhondda Cynon Tal IRCT). We are delighted that Swansea has renewed its longstanding tr)nlract wrth Sight Ufe, so that we c*n eonts'nug 8UpF¥)￿n9 people wrlh sight loss In Wales, second biggest clty. Confld•nc• bulldlne W8'r8 very keen that the people w8 support ar8 independent and at48 to live lrfe lo the full. Key lo Ihls is confidenc8 buildlng across thè generations. In some cases. this stsrt8 with the parènts of childrén di8gnosed with sight ksss. Our hospital based Eyè Clinic Lialson Officer {ECLOI tske8 away the fear of s￿ht loss for parents. enabling them to advocate thèlr children as they grow up. The confidence of older people wth sight loss can take an enormous knoc*. Il's hard to imagine the Impact of no longer belng oble lo drive, read personal mail. go shopping or go QLII to the ctnema Un￿$$ yOu￿e been Iher? yoursejf. That's why we work wth the Cardiff Council Ageing Well leam and njn wdlbeing workshop5 in Sw8nsea. Our Macular Group is the biggest regular goss￿n we wn in our aclivity rDyn in Canllff. Top*G8 covere(I Incllrde online safety, voting in elections, Charfes Bonnet syndrome. firg safely in the home and th8 flner points of 8udio description. ol Course, the opwrtunity lo meet others with the same condrtion 18 one of Ihg bSggest beneffts thls group offefs. Woven In These are lust ¥ few exarnples of how SNJht Lrfe is woven Into Ihe warp and weft of life in Wales. We rely heavlty on voiunteers lo run many of OUT aclivilies. So I wani to Unde￿Ine our thanks lo everyone who gives their time fredy io vohJnte8r al Sight Lrfe. The fact th8t we athievad Inv•sting in VolLtrnleer5 slalus last year shows that we realty do valuo you. It's hard to flncl the right sut*datives lo thank Ihe staff for the work they do. I've mentioned Ihelr dedicallon in previous years. bLrt rt'5 also Iheir fiexitAIty in deofing wth unexpected &luations and Ih8lr ¥￿t￿ngnesS lo rlse lo new challenges. My complete lack of 5howbiz pizazz means I'm struggling to find words lo thank Ceri Dupree, our new Patr￿, for his enthusiasm arjd support for Sight Lrfe. Hawng a hwJh-pr0fl￿ p8trcfi really does help. Especi811y es Ceri is wlling to walk the w8lk (on stage) as well 85 talk the talk on our behalf - wlth t*nefrts for l￿)th publlcty and income. Cardiff Institute For The Blind. (Incorporated) (fhe) Company Limited by Guarantee Trustae$' Annual Report (Incorporating the Dlrectorfs Report) I￿￿tIn￿• Year ended 31 March 2024 As with any charity. we rety on many organisalions and indmduals for our funding. l am grateful to you all and can assure you that Sight Ltfe us8s your money very effectivety. INe know that we save IoGg1 aLrthorities and the NHS tens of thousands of pounds every year by. for example, prevgnling lalls and improving peorde's mental health. I ￿11 finish by thanknng my fellow trustees for their input and support. Belno a trustee 15 often a kYMJ1y understoc*J r￿8. bul one th8t IS 8ssential to every charity. We ar8 r&8pMslble lo the Charity Commission for ansuring that Sight Life is run èfficiently and us88 its income for the purposes for is intended. We 8Fso support and athise s8nh)r manage￿nI. Irs not all hard work, though. Trustees ar8 volunteers 8fKI some of us are gi9hl impaired loo. So sometimes we lake part in the activities menlth8d this repc41. That can bg a lol of fun, and r&warding, b&aus6 we get lo see flrsthand the benoffts that SSghl Lrfe i¥ing$ lo so many people a(yoss south W8le8. Cardiff Institute For The Blind, (Incorporated) (fhe) Company Limited by Guaranto0 Trustees. Annual Report (Incorporating tha Dlroctorfs Report) (c•nihw•YJ Year ended 31 March 2024 REFERENCE AND ADMINISTRAnVE DETAILS R•glster•d charlty namo Cardiff Inslrtute For The Blind, (Inrdorporatedl (The) Slght Lrfe Worklng name Ch•rlty reglstratlon numbor 214131 Comparby r•gl•tratlon numb•r ChJ149982 Prlnclpal Offi￿ and regl8tered Jones Court offlco Womanby Street Cardrfr CF10 1BR Wales Th• truit••s Mr J Sanders Dr CA Jonés Mr N Blewitt Ms SL Pettèrson Mg S Sulh'van Mr CJ Re¢Ydington Ms E Haf Edwards Mr J A5key (Chalr) {Reslgned 16 Octobgr 20231 S•nlor manag•m•nt Richard Harvey Mkhdle Jon88 Audllor Car5ton ETL Chartered accountants & ststuW auditor 1 sl Floor. Tudor House 16 C8thedr81 Road Card CF119LJ Bank•vA LWS Bank. Albany R¢￿. Cardiff OBJECTIVES AI4D ACTivmES The Tru51ees confim thal they have referred to th• guid8nce wilaln&J in the Charlty Commissirn'g general guSd8nce on public knefft whèn rgviewww the Institute's aims 8nd objectives and in planning fu￿re 8CtiMties. The charivs objects 88 StaW tho Charlty Commission are: fraining. employmenl and 98n8ral W￿fare of blind, parb"aMy sighted. s8voroty disabw sighted and handicapped sighted person5.' Strateglc r•port Tho following sections for achi&vem8nts and pwfomance and financaal rewew fomi tho strategic reFQrt of the ehority. Cardiff Institute For The Bllnd, (Incorporated) (The) Company Limited by Guarantee Trustee8' knnual Report Oncorporating the Dlrectorfs R•port) I¢￿￿n￿•￿j Year ended 31 March 2024 ACHIEVEMENTS AND PERFORMANCE Somo Key Numb•rn: 422." The number of t4ind and partiaty sighted PBcpIg receiv¥ig asslsuve technology support. e.g. computers. laptops. printers, mobile phones. tablets, CCTVS and TVS. 103.. Total number of vokAnteer5 supporbng &ght Lrfe's seNirEs. 5133.. Total numt*r of volunt&ering hour5 60.. People are blind and partialty sighted were 8clive voiumeers. 1740". Adults called through c¢￿tsCt Line. 3582.. Pei¥Jle with gght k)ss rewed SaN0￿S, many havlng multiple inlerath'ons and a53lstance. What Slght Lih doo• Slght Ule offers pr8Ctkal suppcyt and ad￿ce to anyon8 WTth hmlted slghl in Soulh Wal88. Blind and p8rtt81ty sighted peL¥JI8 Say we glva hope where th8r8 was onty desp81r. Our stsff enable members lo Improvè thelr physk¥l and emob'onal wellbelng. enjoy independent Ilvag, get lly stay) onllné and rern￿n part of the t>)mmunity. Reduclng isolauon is 8 key part ol our work. This is especialty for those facing the trauma of sighl10sS In later life. That sa*J, over the last year we have been developing a Young•r Peopl•• Proqramm• lo dev&lop confidence. community and 8mployai¥'lty skills for those under the age of 45. Research from Thomas Pockfingion Thomas Pocklinglon Trust - show5 that we fear losing our slghl more th8n any other dis8bllty. Yet, one in five of us wll experience slghl loss 8t some point in our lives and the inudence 1$ sel to rtse ty 30% In South Wa￿S by 2030. We Y4￿k dlllgendy lo loke away thai fe8r. Through our partnerships with the NHS tQaTds, Loc41 Aulhorllles and the commerclal arKI IhiT(I sectors. we redu*2 refianu on primary care SON￿5 land Ihe pressures on thèlr Ilmited budgets). As an ind8p8ndent charity. and one of the oklesl In Wales. we continually seek innovative ways and mutually benefiaal partnerships to nurture the wellbeing of our growing number of soNice users. The next few years ￿￿11 be a per5od of change, adaplatron and innovation for Sight Life. We are excllèd to embrace change and challenge as we continue lo eV0￿e lo meet the needs of our growing membership. This year one of our svJvice users noted th8t Sight Lrfe had"Given me my lrfe boc*' after he dèveloped sight k)ss. Ststements and feedbad( like this empower th8 team at Sight L￿8 to gmter things and demonstrate ID Others the worth of what we do (¥ could do for you. InvMtlng In Volunt••rn Thanks lo funding from the Wale5 Counul for Voluntsry Action. Sight Lile successfully secured the Investing in v￿￿nteerS Award In October 2023. This makes us cffte of a small number of sight *Jss tharrties that hc4d this award. &ght Llfe wthes to increase the number of volunteers have and to devebp programme5 that they can deliver in our local communibes. Thanks lo fvnLling from cYg8nisations such as the PoweN Fami Foundation we are particulady keen to see an increase in young volunlews who can h8lp us develop and in doing so dev8k)p themselves and thèir wKler S￿11 sets. Cardlff Institute For The Blind. (Incorporated) (fhe) Company Llmited by Guarantse Trustees. Annual Report Oncorporating the Dlrectorfs Report) fMnllnts•dJ Year ended 31 March 2024 Achi•v•m•nts and p•rforn*nc• (¢onUmwdl The Investing in Volunteers Award recognises lth g&)d practrce and procedurgs in developing and contjnuing lo work with vduntsering programmes. It ensur88 that we place vdunteers at th8 heart of everything w8 do. Invesllng in Vohjnleers ￿11 help us improve the qu81ty of the volunleertng experlence for all voluntears and demonstrates that organisations value the enomiws conln'bution made by their volunteers. Achiavemenl of this stsndard will help springboard the drivè Iow8rds additional volunteer engagemènt by cementing the following key concèpts into our stratgglc plan8.. Vision for Volunt8ering Planning for Volunteers VdLonleer Indusion Recnjtting and welts)ming volunteers Supporting volunteers Valuing and developing volunteers. Fundrnl•lng 11 Is plea81ng to notè that Sight Lrfe is continulng to dlverslfy its fijndraislng capabifities po$1 the demerger frryn the RNIB. During the lasi year Sight Lrfe had successful ￿ndIng from.. Th6 Natlonal Lottery Communty Fund {Voluntear Programmel People'8 Post Co¢Je Lottery Isupwt for programmes in Rhondda cyr￿ Tafj Powell Famity Foundation (y￿nger People's Programmel Sw8nsea and Cardiff winlw presBure6 wogramme8 to support outreath and $ervlc8s for vulngrable people. The Garfield Westom Foundalion. The pandemic years saw a r8duction In the numbef of ciwnmunty fvndrai8lng opp￿t￿nItIes. It Is pleasing lo r￿le that last year saw an incTeasing number of fundra￿ng events thai addod to our donation pots. We will bo investing in a wider fundr81￿ng team in tho next low yearn as we develop bc4h our porifolio and ￿ller nthork of supporters a¢YO8S South Wales. We were delighted lo partner with the Crdckeryackpot Loitery thls year WIN walth the dgvelopmenl of Ihls Initiative as our outreach and conlacis grow. We will be Investing time in d8veh)ping our regular giving and legacy progr8mmes during the year. A second year of fundroising with the Big Give pD)vid8d great results for SwJht Life In December 2023. During Ihe Blg Give wèek donations from c4Jr supporler5 weAe doubled thanks to the support of the Blg Give, Thé Hospital Saturday Fund and longer48￿ Sffjht Life wpporters. Wo have developed a great partnership with the Blg GNe and assisted with th8 devglopm8nt of thelr webslte lo ensure that il was accessit￿e for people with sight bss during the yoar. Cardiff Institute For The Blind. (Incorporated) (The) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) I<*￿￿￿•d} Year ended 31 March 2024 FINANCIAL REVIEW Flnandal Posltlon - r¢vOew at the •nd ol thè reportlng perfod The Ch8rity'8 Ststement of Finand81 Activibes {SoFAI re(18cts our strategic Pfiorities. Total In¢ome was £560.723 {2023: £475.195} of whlth £nll12023: £93.438) was re¢dvgJ as a grant fr￿Tr RNIB toward$ running costs. Total exp8ThYilure was £567,517 12023.. £537.5571. Unresln'cted fund expendtture was £441,824 of wh¢ch £29.569 related to dewecaation of the property at Jone8 Court and restrictetl fund expenditure was £125.693. You will find a more detailed analysis of our In￿rne and expenéiture In note 5 to note 16 to the fin8ndo151atements on pages 20 to 23. The overall deficit for the year ￿￿$ £6.79412023'. surplus of £89.7221. Last year induded an Impainnent Tever881 relating lo the valuatlon of Ihe propety of £152.084. ￿lch contrfbuted to the surplus. Penslons The deflned benefrt scheme rdatlng lo the Cardiff & Vale of Glamcvgan pens5￿ Fund cbged in re181ion to CIB on 31 March 2016, when thelosl employee5 left the scheme. The FRS102 net deficit al 31 March 2016 was £681.000. The cessation liabillty ￿k911n9 to the scheme was finalised In 201812019 81 £356,500. which is being poid thfough RNI8 funds in fve annuol inst8lmenls from May 2019 10 2023 (the onginal negolraied amounl was £315,800, whirh ha¥ subsequeftuy had £40.700 interest addad resuAing from Ihe deferred PaY￿n￿l. Intsresl has been added to the original amount of £315.800 using ihe effective interest rate. $pr•adlng the £40,700 inlerest over 5 years. The amount due al 31 March 2024 was £nil. havlng now paid the final inslalmenl12023.' £69,011). This ￿MprIseS of the original amount of £315.800 less the five repaymènts of £71,3CN) and lotal interest of E40,71)O. As CIB'S parent ccmpany al that p￿nI, RNIB had committed lo FQY over an addition81 grant lo fund Ihe¥o costs, which was reflected In the 2019 aGMunts. and they contsnued lo do so post de-mergér. CIB has a current defined cc#)trl￿l￿ penslon scheme with Scothsh Wldows. In Ihe year. CIB contributed £4.62312023.. £4.5101 on behaff of tsvo empfoyees (2023.. tsvo employees). CIB aL80 conlriiKrtes to the NEST aulo-enrdmenl sch8m8 and In the year contrlbuted £4.160 12023.. £3,518) on behalf of euht employees (2023: seven empFoyees). CIB al¥0 contrfbuled to the L&G pension scheme and In the year contrlbuled £4,250 {2023.' £4,250) on behalf of one employee. ReseNes pollcy CIB carries 8 variety of proi8cls and services both long and short temi. The Trustsas have examined the requirements for free reserves which are those unre51ricted fiJn(15 riot invested in fixed assets, designated lor sPe￿riC purkh)sès or olhewse committ8d. Tho Trustees C￿SKIer that given the nature of our work these should be sel al a minimum of six months of c¥Jr annu81 unrestricted funds operating expendilure. Total unrestricted reserv6$ at 31 March 2024 are £1.476.888 12023.. £1,411,846). Of this £295, 167 12023.. £264,148) (which is equivafenl to beknn seven ¥nd elght months unrestricted expendllurel relates to free reserves, £1.181.721 12023.. £1.216,7091 rebtes lo designat6d fixed assets mainly being the property at Jones Court, Car(liff and these are offsel by a negative balanc* of £nil12023.. £69.0111 relating to 8 designated pensfvjn fund for the r85sation liabilty in ￿SpeCt of the Cardrf and Vale of Glamorgan pension scheme. This was the odginal agreed arnounl before inl8resl in respect of paying in five annual instalments. redu￿n9 over the 5-ye8r period until 2023124 financial year by a trars$for to the restricted fund. Cardiff Institute For The Blind, (Incorporated) (The) Company Limited by Guarantee Trust••s' Annual Report (Incorporating Ihe Directofs Report) I￿n￿ued) Y•ar ended 31 March 2024 Restncted reserves al 31 March 2024 were £38.12712023'. £109,963). Included in restricted funds for the prior year was the RNIB Grant for the pension cess8tion li8bi&ty which ￿lateS to a funding commilment in respKt of the Cardrff and Val8 of Glamorgan pension cess8tion payment, which was paid over a fve-year until 2023124 financlal year. The fund was utili8ed ty a tran8f8rfrom Ihtr desvdnated pension fijnd when th8 payynenl was made each year. PLANS FOR FUTURE PERIODS Movlng Forward SvJht Life ha8 been irnproving ihe lives of b11￿ and partiaty sighted people $inGe 1865 and, desplte mèdical advances, the need for our supporf is as great as ever. GoiThJ through th8 hL8torfcal archNes at our resowce centre great lo note tho1 sorne ol our groups and advilies that help raduc8 isolation and ￿0st confidence ar¢ similarlo those on offer In 1865. These indude c*8ft and singing groups for example. whilst the need to asslsl independent tivlng and aGhieve dally tasks remains a constant r8gardl8S5 of Ihe til￿$. Volunteers remaln 8 key focus forus 83 they hél) successfulty deliver a numberof our kèy programm•B. OUT development plans for the fubJre h)ok at enhandng, revam￿ng and In Some clrcum5t8nceg remodelling our vobjnteer roles and prc#Jrammes. Slght Life will be 160 years c4d In 2025 and we want to ensure th¥1 ¢)ur VO￿nI00r opportunrties rem81n relevant and engaging for a wder bage of participation. Our core seNces remoin constsnt and deliver meaningful results. In 8ummary thes8 are.. First stage support via Our Eye ClinK Liaison Officer {ECLOI based al the Universrty Hospitsl of Wales, Heath Hospital In Cardrff. Horne visrt 85sessmenl 8nd advk¢. A contsct line lelephwe support s￿¢6. So¢ial SUPFQrt group8. Access 10 8cINily and interests such as rambllng, Ih•atr• photography. Adv￿9 on products that support ind8pgndent living. Advice on IKhnology and di9it81 indusion. Supwrt lo access key seThices suth as rehabMltaJon arhl welfare tenefits. Amongst our fiJlure thallerbges is m8naglng the expected drametic incre888 in the inddence of sight loss over the nexl few ￿aT8. The Womd Health OrganisatK)n notes that the incidonco of sKJht loss will double by 2050. Thomas Pod(lington and RNIB note that Incidence of stght k)$5 in South Wo10$ wll have increased by approxlmatety 30% bethen 2015 and 2030. This will result in greater demarKI for our seNices as 8 chanty and wider cals for us to support our partners in hèakh and socgal semces as their reS￿rCeS bacoma stretched due to the nabJre of the current economy. Our strategy 4wI remain r￿s1 constant. Cardiff Institute For The Blind. (Incorporated) (The) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors R•port) (CQnllnu Year ended 31 March 2024 Plans lorfutur• p•riods {etNthu•d) We will foc#J8 on.. 1. Impro￿ng LNes Blind and Parbally Sighted Pe(pl8 through.. Being thére al the polnt of diagno&s provHling wnotional 6ukwt. advice, raferrals arKI signposting. Providing a person-centred senA¢e that SLrpports pgople's holistiG needs and empowefs thom to live independenty. Providing paer lo peer SUPF*Jt, inforniat￿n and aoknc* enabling people lo acc8S8 wider S8￿CeS. Working with and training partners and S8bViCè providers lo 8n6ura people receive appropdaté supp)It advl¢e. assistance. and slgnposting. 2. Flndlng new w8ys Ihrou9h'. Social and digital indusion Physic81 and emotional wellbemg Practkol wolects pOst￿ndern[c to In¢xease sem￿)fi￿Oneo 3. Funding: Developing 8 fundralsing stralegythat del￿rS against our needs, aspirallons and programmes. Through 8 tripod approath ol grants. fundraising and legacies. Thank you to all our serv￿ uw3. volunteers. partnws, Supporters, dcfflors and fund8rs continu8 to support our work. Finally Ihank you to the stsff team at Sight Life for all trelr hard WO￿ and dedication and lo our TnJste8s for all thelr suptrt knowledge and guhlance. STrUCTURE. GOVERNANCE AND MANAGEMENT From 2 June 2009 until 31 March 2022, Cardiff Inststijte for the Blind (trading as Sight Lrfo) was a 8ubsidiary of the Royal National Inslttut8 of 81ind People IRNI81. Under this 8grè8menl. Sight Life kept Its idgntty its own charity registrotj'on and wa82 charilabio company llmited by gu2rantO8, govam by rt8 Memorandum and AJtid8s of Assoaalion. Slghl Llfe loft the RNIB on 1 Aprbl 2022 and is onc¥ again an Independent chadty. Thls w8B a mutU811y 8gr&ed decision ￿th the RNIB ¢8ken by Sh3hl Life trustees after extensive due diligenco. The ts¥o c*arits'es conllnue lo work together and RNIB Cyrnru still ronts office spaGe in our Jones Court building. As part of the domeiger process, Sight Life accepted a £200,Or￿ loan from the RN18, repay8ble by 2029. The trustees. ￿ ara the directors of the company, regulaty to ensure rotYJ51 leadership and govomanc8. Slghl Lrfe is managed on a day-lfrday basis by a Chief Exe￿tiVe. Sight Lrfe continues to encourage additional ￿¢ZultMent lo our trustee boafd to ensure that wo match the gov8manc8, profe951onal skllls and lived expwlenee ngeds that our op8ratK)ns requlre. Prior lo re*uming to independence, we rewewed and strengthened our management t6am. as well as many other 8spects of our op8rakn"ons. We did this lo refiect tho fact th81 we woukj no longer have tha support of the RNIB and ils back4)ffice SWMce5. We have updated our p(aicies and govemance structures, as w811 as putting in pkgce new finance. ￿r8￿ne1 and IT systems. The t*)ard is supported by sub-group8 Hl finance and govemance and risk to pro¥ide 06svrance to tt￿ board. As a tharity, we recogni￿ our duty to be accountsble to our supporters and regulators. as well 8s to spend our income wisety an¢J effeclivety. One of the first steps towards achieving these go815 15 keeping up-to-d81e and accurate records and M￿rtOrIng our perfomiance through KPIS (key performance indicators). Our administrator plays a key role SUp￿ting the rest of the team in this capacity. Cardlff Institute For The Blind. (Incorporated) (The) Company Llmited by Guarantee Trustaes. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 Accounlabilrty also means regular reporting to our funders and donors -from large tnjsts to individual $uprthers *0 that they and the wder public can gauge for themselves th8 value of the work we do. And. ofcourse. accwntability means submrtting timely ststutory rep)tts to the Ch8nty Commission and Companies House. Trn¥leos' rn8ponslbllltJès slal•m•nt The tw$t8es, who are a150 directLVS for Ihe purr*)ses of cg)mpany law. are responsi￿8 for preparing the Injstees, report and the financial ststements in accordance apFAicabl8 law and United Kingdom Aceounling Standards (Unried lQngeJom Generalty Accepted AC￿￿ntIng Practice). Company law requires the chanty Irusleèj lo wepare financial statements for each year sthleh give 8 true and fair view of thè state of affairs of the charitable company and thg incLxning resovrces and appl￿tron ol resources. indLrfng the incom8 and exp￿￿￿{luTe. for that pwh)d. In preparkng these finandal slatemènts, Ihe tNstee8 are requKed to: select 5ultsble accounting p)l￿e$ and then apply them consistentfy.. obseNe the methods and prin￿p￿S in the apFIIc8ble Charities SORP.. make judgments and oW￿nI1ng estimat88 that are reasonable and Pfudenl; State whether applicable UK Actsjunting SlandaT(l$ have been folk)wed, subiect to any material departu￿$ disclosed and explained in the flnancial statements.. prepare the financi81 statements on the golng concem basis unlegs11 0$ Inappropriate lo presume that the charfty wlll conunue in buslnes¥. Th8 Iru61ees are respOn￿ble for keeping adoqu8te a￿)unting roo)Tds that are sufficient to show ond explain the choritys transactions and dK8cIo8e whh wsonabl8 accuracy al any time the financ181 positi￿ of the charity and enable Ihem to ensure that the ffinancial $tatem8nls comply wth the Companlas Act 20C*. They 8re also responsibl8 for safeguarding thè assets of the tharlty and honce fw taking ￿asonabl? steps lor Ihfr preVent￿)n and detect￿ of fraud and othèr irregularib'es. Each of the persons I￿019 8 Iruslee et the date of appn)val of tris report ¢onfiryn8 that.. 80 far as they ara awwe, thère Is no rel8vant audit infomatron of 4thich thè charity's audhor un8war&,' and they have taken all sleps that they ought lo have tsken as a trustee io make themselves aware of 8ny relevant audlt infomiation and lo establish that th8 tharit￿S auditor Is aware ofthal inforynatlon. The trustees. annual report and the $tr8tegic report were aFvoved on 16 Deeémber 2024 and signed on behalf of the board of trustees by.. Slgn int Nam& J O*Mr Trustee Cardiff Institute For The Blind. (Incorporated) rfhe) Company Limited by Guarantee Indopendent Audltorfs Report to the Members of Cardlff Instituts For The Bllnd,(Incorporatsd)(fhe) Year ended 31 March 2024 Oplnlon We have audited the finanaal statements of Cardiff Institute For The 81ind,{IncorporaledKThel Ilhe 'charitable company'l for the year ended 31 Marth 2024 wh￿h comwise the statement of financial acti￿ties linduding incoma and exp8ndlture account). slalement of financial position. statement of cash Ilows and the related notes. induding 8 summary ol significant acLounling policies. The financial reporbng Iramework that has been applied In their preparation is applicable and United Kingdom Accounting Standards. induding FRS 102 The Financi81 Reporting Standard ap￿Icab￿ In the UK and Republic of Irejand (United Kingdom G8neraIlyA￿epIed Accouming Practice). In ow oplnion the finoncial Statements: give a Inje and fair Mew of tho state of Ihe charitabl8 comp3nls affalTS as al 31 March 2024 and of Its incoming resour￿$ 8nd apph'callon of res(Kff￿, Induding its income and expenditijrg, for the year then ended.. have been propety prepared In a¢cLYdan¢e wilh Unitsd Klngdom Generalty Acc$pted Accounting PrBcts'ce", have been prepared Sn acwrdanc% with Ihe requiremBnts ofthe Companies Act 2006. 0818 for oplnlon W¢ condu¢ted OUT audit in a(tord8nc6 with Inlomallonal Sl8ndard8 on Audlting IUKI IISAS (UK)) and applic8ble law. Our r9spon￿b1h.tles under those stsndards are further descrlbed in tha audilovs reS￿SibilitIeS for the audit of Ihe financlal s181oments section of our r8Wt. We are indepent1ent of the charitable company in accordance with the 8thic81 requiremants that ar8 relevant to our audit of the finandal 8tstsm8nls In Ihe UK, includlng the FRC'S Elhlcal St8ndaTd, and w8 have fulfIl￿d our other elhiGal responslb11￿es In accordance wrih these requlrements. We bell8ve th81 thg 8udit evld8nee we have obtained 1$ sufflclent and approprtate to provide a basls for our opinion. Conclu8lon¥ r•latlng to golng ¢onc•rn In oudltlng the lknanci81 stslements. we have CC¥Kluded Ihal tha Irusl8ès' use of tre gcino basls of accounting In Ihe p￿paratIon of thè fin8ncial stslements 1$ approwlale. 8as8d on the work wo hav8 performed, w6 have not Identrfied any material uncertaint￿5 relating to events or ￿ndillonS thal. indFvidually or collectlvety, may cast signtftcanl doubi on th6 charitable company's ability lo continue as a going concem ft* a poriod of al least months from whgn the financial $lalem8nts arè aulh￿IS8d for issue. Our responsibilib"e$ and the responsibilities of the Iruslees wlth resp￿ lo going corKem are describèd in the r8levanl sections of this report. Other Inforniatlon The other infomafirm comprrses the infomi81ion included in the annual report, other than the financi81 stslements and our audiloT'5 Wport tha￿0￿. The trustees are ￿SponsI1)le lor the other Informat￿n. Our opinion on Ihe financial stotefnents does not cover the other infowmation and. exL%Pt lo thè exlenl otherwise explicilly stsled in tyJr report. we do rK)t express any fomi of assurance condusion thereon. In connection with ovr audit of the financial ststemenls. our responslbility i8 to read the other information and. Sn doing so, consider whether the other information is matgrially inconsistent with the financial slatemenls or our knowledge oblaingd in the audrt ¢y olhewse appears to be materialty miss18ted. If we idanbfy suth m8terlal inconsistenuos or apparent material missmemgnts, we are raquired lo determine whether there is a material misstatement in Ihe flnanc(al ststernents or a malarial misstatement of the other infornialion. If. based on the work wo have perfomied, w& conclLKle that there fs a material misstslement of thts olher infomation, we are required lo repcrfl that fact. We hav8 nothing to ￿port in thLs regard. 10 Cardiff Institute For The Blind, (Incorporated) (The) Company Limited by Guarantee Independent Auditofs Report to th• Members of Cardiff Institute For Tho Bllnd.(Ineorporatsd)(fhe) Year endod 31 March 2024 Oplnlons on ￿hor matt•rs preserfb•d by th• Companlu Act 2006 In our opinion, based on tho vK)rk undertaken in the course of the Budit: th8 information gSven in the trustees. rekX)rt the financial year for vA)kh the ffn8ncial stalem8nt6 are prepargd is constslenl wlth the financial ststemenl$: and the trustees, report has been Prepa￿d in accordance with applicable18gal requlrements. Matt•rs on whl¢h w• •r• r•qulrnd to roport by •xc•ptlon In thé light oflhe kno¥￿edge and understanding ofthe charity and ils environment obtained In the cour6e of the audrt, w8 have not identrfied material misstatom8nts In Ihe trustees, reporL We have nothing to report Sn respect ol the followlng malters h relatyon to which the Companle¥ Act 2006 requlres us to ￿p)rt to you if, In our oplnlon.- adequale accounting r8cc*ds have not been ktspL or relums adequate for our audlt have not been recelv&J from branthes not ￿$rted by u8: or the financial statements are not in ag￿efflenI with the acc(wnliThJ reclyds and r91ums," or certain di¥dosures oftruslees. remunwation by kiw are not mad?.. or we have not recefved ati the Infmlon and explanations we require for our audlt. R••pon•lbIlltS￿ of tru•t• A8 éxplalned more fulty In Ihe tN8t865' responslbilllie8 ¥lalem8nl, the tru$l885 {who are also the dlrectors olthe Charitab￿ company for the purposes of cornpany lawl are responsibk forthe prepar81ion of the flnancial slalem8nts and for being satisfied that they give a truo and falrvoew. 8nd forsuch inlemal control 88 thè trustees detemine is necess8ry to enable the preparation of finBncial sl8lements that are free matsri81 mlsslatement. whether due to froud or eryor. In preparing the finand81 slalemenls. the trustee5 are respon￿ble for 89ses5ing the charitable comp8n*s abilmy to continue as a going can￿m, disck)sing. as applicabb. matters relatad lo going concern arKI uslng the going ￿nCern basis of accountsn9 unlgss the trustees either intend lo I￿U￿date Ihe charlty or to cease operat￿n8. ty have no reali8tk alternatrvè bul lo do so. Audltofg mponslbllltl•s for th• audh of th• flnanclal stalements Our objectives ar8 to obtsin reason8bl8 assurance abt>Jt vthether the frnancial statemanls Bs a whole #re free from m8terial misststemenl, whether due lo fraud ￿ error. and to issue an audilor's r8POrt that indudes our opinlon. Reasonable assurance a hlgh level of assurance. but is not a guarantee that an 8udil conducted in accordance with ISA5 (UK) will always delecl a maierial misstatement when11 exists. Misslatsments can arise from fraud C￿ err￿ and are ccm8lder￿j mattirial if, individually or in the aggregate, Ihey o)uld reasonabty be expected lo influence the economic deck8ions of users taken on the basis of these fina￿￿1 statamenls. Irregularities, including fraud. are in5tan¢es of non-compli8nc6 wth laws and regulations. We identlfled nd assessed the risks of material mrsslatem8nl of the finanaal statements from irregulartties, whether due to fraud or error, and discussed these between our audit team memb8rs. We then designed and performed audit proceduies respJnsive to thos8 risks. induding obtaining a￿lIE evidence 8uffid8nt and appropriate lo prO￿￿e a basis for our opin￿n. 11 Cardiff Institute For The Blind, (Incorporated) (fhe) Company Limited by Guarantee Independent Auditorfs Report to the Members of Cardiff Institute For The Bllnd, (Incorporated) (The) Year onded 31 March 2024 We design our procedu￿9 80 as to obtsin sufficient appropriate audrf( evidence that the financial statements are not malerialty misstsled due to non¥caJmpliance with laws and regulatlons or due to fraud or error. We are not responsible f(x preventing non-compliance and eannol ba expected to detect non- compliance with all Mvs and regu￿ti￿s- this resprMS1￿fity fies wiiti managernent with the oversvJhl of the Trustees. Based on our understanding of the tharity and Ihe thanty sector, dlscussions wttrl management and trustees we id8ntffied finandal rerrf)rting stsndards. Ch8rilk?s Act 2011 and Companies Act 2006 as having a dlrect èffect on the gmounts and disd05ures in the finanual $lal8ments. As part ofthe engagement team Lliscussion abcmth how arKI ￿￿ere th6 Charity's finanual stslements may bg materially mlsstated due lo fraud. we did n¢X id8nbfy any areas with an increased risk of fraud. Our ¥udlt proceduros Sndud&Y.' eompFellng a rlsk-a¥sessment procass duriryj our pfannlng lor this 8udilthat 8pecKtslly consldergd the rlsk of fr8ud.. enquiry of management about the charttable c(vnpanYs pdld88. pr￿edureS and related controls regarding compllance wlth laws and regul8Vons and rf there are any known Instances of non- compliance. examlnlng suppcrting dowments for afi materlal balances, transactjons and disdosurès; enquiry of management, aboul litigations and daims and Inspecticn of relovanl correspondencé., analytical procedur88 trj idenlrfy any unusual or unexpected relotronships.. spgcffic audit tesling on and review of areas Ihal ￿Uld bg sublect lo management overr￿8 of controls and polenlal ￿8s. r￿st notabty around the key judgments and 8stimole8, Includlng the carying value of accwols. FrfOVi5KJns and revenue rècognrtion.. ¢onsidering managemonl override of controls outside of the normal operalino Gycles including lesling the appropriateness ofj¢yJmd entrles recorded In the general ledger and other adjustrnents made In Ihe preparatlon of the linancial ststements indudlng evaluating the rationale ol ￿gnificant tr6nsactknn5. outslda the nomial coursg of charitsble acvvity. Because of the inhefenl Ilmitations of an audk, the￿ iy a rlsk thal we WIN not (Jelect 811 Irregularities, including those leading lo a malertal mlsststement in Ihe financial st81ements or nonsh flow5. ost allocatlon Support costs not attributable lo a single charitsble actimty 8re allocated or apportioned on a basis ¢onsislentwth identified cost drivers for that cost category. Support Costs are allocated lo acisviti85 on the basis of an eslimale of costs incurred by each activity. Provlslons Provisions are recognis8d when CIB has a present ￿g81 or constructive obligatson as a result of p851 events" rt is probatrAe (hat an ouffiow of reSoU￿S be requw8d to s6tt1è th8 obl1gatic￿', and the am￿nI of the obligation can be estimated reliabty. 17 Cardiff Institute For The Blind, (Incorporated) rfhe) Company Lirnited by Guarantee Notes lo th8 Flnancial Statements (eonth(•d) Year ended 31 March 2024 Accounting pollci•s (con Fund accounllng Unrestricted funds are 8vailablo for u8e at the discrntlon of the trusteas lo further any of tho charity's purposes. Designatsd funds are urwestricted funds eannart(ed by the tNstees for particular future prolect or cornmitrnent. Restricted funds are sutr4'ected to restrictions on theirexpendiLJre deC￿red by the donor or through the tems ol an ap￿al and fall Into one of two su1￿0s$e3.. restricted income funds or endowment fund8. In¢omlnq rn8our¢es Don8tlon8 are accounted for as soon as there is entitlement and the am￿nI L8 measurable and r8ceipt Is probable. Donations indude Gift AKI based cffi amounl T￿rat￿e at Iha 8ccountin9 date. Legacy Income is recognisgd when recelpl ￿ Probab￿ and enbtlement Is ¢stabli5hed. Charitable income is Trcognised when it can be rdiabty measured, there Is enliU8ment, and ￿ceipt Is probable. Where tharilable income is recelved in odv8nce of tha 8ctivity lo be perfomièd then the Inwme is deferred. Investment Incomg, interest on deP￿lts and inwne In (xinneclion with Se￿6C6S lo people vAth sight rxoblems 18 reccgni88d on an accruals b8sis. Whwe on incomlng resource is recelved In 8dvance of Ihe actlvity to be performed then the incoming resource is deferred and Induded In creditor5 R•8our¢•* exp•nd•d Expendrture i% reccgnised on an accru•ls basis as a IlatAlity is incjjrred. Expendllure includes any VAT which cannot be tully recovered, and i8 classified under headlngs of the stal&mnl ofllnancl81 Bclivilles lo whlch it relate5'. expendtture on r8ising funds Indudes th8 costs of all fijndraislng actmties. events, non- charita1￿8 trading activitie5. and the sale of don8led goc%Js. expenditure on chwitablè activilles indudes 811 costs Incurred by a ch8rity in undertsking activrties that further its charitable aims for tre benefrt of its beneficiaries, including Iho88 SUPM costs and c08ts relating to the govemance of the charity apMic*)ed to chantable actfvthes. other expendlture inthdes all experKlituro thal is neitherr8laled to raising fund5 for the nor part of its expendtture on ch8ri1able acti￿0•$. AJI costs are 81k)cated 10 8xpendilure categories rafiecb.ng the use of the res¢)urce. Direct costs attTibUtsb￿ to a single activity aro allocated directly to that 8cli￿. Shored costs are apportj'oned be￿een the activities they contribute to on a reasonable, juslifiable and consistent basis. Opgratlng l&tse8 Lease payments are recognised a5 an expense over the ￿ase temi on a straight4ine basls. The aggregate beneflt of lease incentives is ￿ognIsed a5 a reduckn.on to expense over the lease temi. on a 8traight4ine basis. 18 Cardlff Institute For The Blind. (Incorporated) (rhe> Company Limited by Guarantse Notes lo the Flnanclal Statements fconi*¥¥dJ Year ended 31 March 2024 Accounting polici•s Tanglble assets Tangl￿e 8ssets are inFbally record8d al cosL arxl sutsequenty staled al costless any 8ccumvlated depreclation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the date of r8valuab.on less any subgequenl arLumulaled depr8ciatNJn and subsequent accumulated impaimenl losses. Dèpreclatlon Depreaallon Is ca1￿lated so As to wT6te Trythe ¢￿t or valuollon of an asset. les51ts resldu81 valu8, over the usefvl eeonomlc Iwe of that asset as fdlows.. Freehold propety Fixtures and fittlng¥ Equipment 50 years 20% straight Ilnè 25% straight line Impalrni•nt of fixod *•Mts A r6vlew for indlcalors of impoirnent Is ¢arrrod out al each rgporting dole, wrth the recoverable amount bèing estimated where suth iThJicatLYS exist. Where the c8rrwng value exceeds the recoverable 8mounl, the ass81 is impalred 8cc(¥dlngty. Prior impawmgnts are also re￿eWed for P08sible reverBal at ea¢h reporting date. Stocki st￿ks 8re measured al the fo*er of c¢sl JrKI estomated sdfing p¥ice188s costs to complete 8nd sell. Cost Includes all cosls ol purchase. c08ts 01 conversion and other costs incurred in bringlng Ihe stock to ils F¥esenl location and cnndth'on. Flnanclal In•trum•nts A flnancial asset or 8 financk81 liability Is recogn188d onty %thon tt)e thanty becomes a paty to tho contr8Ctual provisws of the instrumenL Basic financial Instruments are initi81ty Tewni¥ed at the amounl rerAivable or p&yable Including ny ￿[￿0d transaction costs. Current assets and cu￿nI liabllities are subsequenuy measured atthe cash or other consideratlon expected lo be paid ar r￿1Ved and not discount6d. Oebl instruments are subsequenty measured at arrwlise(l eosL Finanelal assets that are measured al cost or amothd o)st are reviewed for objective evidence of impaimient * the of each feporbng date. If Ihere 1$ obiective avidence of impairment, an impainnenl loss is recognised under Ihe appropriate heading In the slalement of financial activities in which the Initial g8in was reCOgn￿•d. D•fined contrlbulion plan$ Contributions to defined contribution plans a￿ ￿COgnISed as an expense the parfod in wh￿h the related servic6 is provided. P￿paid c￿tribu￿)nS are recognised as an 85S81 lo the extent that Ihe prepayment will lead to a re￿￿￿10n in fviure payments or a cash refund. 19 Cardiff Institute For The Blind, (Incorporated) (The) Company Llmlted by Guarantee Notes to the Flnancial Statements Year ended 31 March 2024 Llmltsd by guarantée Each member of the Board of Trustees ha5 undertaken to guardntee the Charity's debts to the Sum ￿£1 eath. DOn￿lOn8 and l•gacles Unrestricted Funds Restricted Total Funds Funds 2024 Donatlo Donations 22,474 22,474 L•gacle¥ Legaci Granls RN18 grant The Natlonal Lottery Communlty Fund The Powell Famity Foundalion The Garfield Weston Foundation Nabonal Grid CommLFnlty Malters Other grant income 112.750 112,750 62,332 43,116 62,332 43.116 25,000 9,630 10.000 25,000 9.630 10.1)00 160.224 125.078 285.302 Unr88trided Funds Reslricled Total Fund8 Funds 2023 Donatlon$ Donatlons 23,197 23,197 L•gaclg¥ Legacles Grant• RNIB grant The Nation81 Lottery Communty FurKI Postcode Lottery WCVA Thrive and Suryive The Clothworkers Foundation Other grani income 93.438 93,438 47.667 25,000 12.500 10,000 16,293 47,667 25.000 12,500 10.000 16,293 116.635 111,460 228,095 20 Cardiff Institute For The Blind, {Incorporated) (The) Company Llmlted by Guarantee Notes to the Flnancial Statements (¢onlIn￿6) Year ended 31 March 2024 Charhable acttvlties Unrestrrcted Total Fund• Unreslrlcted Totsi Funds Funds 2024 Fund5 2023 Resourcé centre sales Income from non-investment property in furthèrance of the charity's objects Local Authority contract income Cardiff & Vale H681th Board - ECLO Services Incorne from group8 and other c (9.793} (1,5001 47.667 116,920) 111.460 (121.0281 180,9841 30,747 21x1.515 109.963 Abertawe Bro Morgannwg Universty HeaAh Board IA8MUI Changing for the Better - To provide workshops and training se￿on3 to peop￿ with sight loss and lo professionals. To create awareness of why Ihe risks offalling are higher for a Per￿ >Mth s￿1 loss and what be done to minimise those risks in the indoor ond outdoor enviTonmenL Maculer Group - donations havè b8an I￿1Ved to fund transport and actNities relating lo thls group. The RNIB Grant - pensk)n cessatK>n liabilty ￿lateS lo a funding commitment in rgSPeCt of thè Cardiff and Vale of GIam￿gan ￿ns￿)n Cewtion paymenl. which is due lo be paid over a frve- year perioj. The fvnd will be utilised by a transfer from the tlesignate(I PenS￿n fund when th8 payment is made ead) year. This represents the final year payment. Thrive and Survive grant from the WCVAwd5 re(%iv8d lowar(Is Ihe Third $8ctor Resilience Fund. The Clothworkers. Foundation grant of £10,tM)O was received tOW8rds the purchase of IT equipment suppcrting visually impaired peop￿ in Cardrff. The equipment was purchased in the p￿viOUS yeaf and 8 irensfer has been made to unrnstrithd funds as the ftjnder does not pertain a lon*tenn interest In the equipmenL 28 Cardlff Institute For The Blind. (Incorporated) (The) Company Limited by Guarante• Notes to the Financial Statements (¢*lln Year ended 31 March 2024 25. Anatysis ol charltsblè funds f¢Mtinu¢dJ The PeoFde's PoSI￿)de Lotsry grantwas received trAvards staff eA)sts for Contsct and Advice Lune as well as peer supwt. sk)n Impalr8d Wesl Glamorgan granl. SCVS and C3SC was r8c8wad towards 8UPkX)rt of s￿ht Life Groups and tech support. The NalkJn81 Lottery Community Fund - "peop￿ and Plac£s 3. grant was received tow8rds the Vohjnleering Insight programnTt. Afvrlher National Lottery Community Fund gr8nl was received towards Ihe One Vlslon project. The National Grid Eleclricrty Llistributiw- Communty Mallers Fund provldad 8 grant I￿vardS tho Lelsure Insight project. Tho Pow8ll F8mlty Foundation prow(led funding l(Y•vaTds the Young Person's proj$¢t. Swansèa Counc41 provided grarrt fvnding kn¥aTds wellbolng worf(shops. End¢Jwm•nl fund• At1 April 2023 Galn¥ ?nd A131 losses March 2024 In¢ixne ExpendllLITO Transfvrs Shand Memorial fund 1.119 1.119 Gains and At31 losse5 March 2023 April 2022 Income Expendrture Tr8nsfer8 Shand Memorial fvnd 1.119 1,119 29 Cardiff Institute For The Blind, (Incorporated) (fhe) Company Umltgd by Guarantee Notes to the Flnancial Statements (C￿lIn￿dj Year ended 31 March 2024 2& Analysls of n•t assets betwoèn lund¥ Unre5triGled Funds Restrictod Endowment Total Funds Funds Funds 2024 Tangible fixetl assets Curr8rrt assets Creditor5 less than 1 year Credrtors greater than 1 year 1,181.721 554.891 159.7241 12ry).0001 1.476.888 1.181,721 594,137 159,7241 (200,0001 1,516.134 38,127 1,119 38,127 1,119 Unrestricted Funds Rgstrlcled Endowmant Totsl Funds Fundts Funds 2023 Tanglble fixed assets Current assets Credltors less than 1 year Credltors greater th8n 1 year Net I￿•￿ 1.216,711 516.450 {121.315} 1200.000) 1.411,846 1,216,711 627,532 {121.3151 {2CQ.OC(Il 1,522,928 109,963 1,119 109.963 1,119 27. Analysls of ch•ng•• In n•t d At At 1 Apr 2023 Cash flow$ 31 Mar 2024 Cash at bank and In hand S23,919 177,7441 446,175 28. Opwatlng lou• ¢ommltm•nts The lolal fvturo mlnlmum lease paymènts under n￿￿nCe￿abK7 oper8b.ng leasos are as follows.. 2024 2023 Not later than 1 ygar Later than 1 yèar and nol later than S years 1,440 S220 660 29. Related partl•s Durlng the year, the tharty r8ceNed d¢￿ati¢￿8 totalllng £6,IXKI from one truste8.