## **Beacon Centre for the Blind**
## **2023/2024 ACCOUNTS**
## MAKING A VISIBLE DIFFERENCE
**Trustees Annual Report and Financial Statements**
**For the year ended 31 March 2024**
**Company number: 00710129**
## **Company information**
**Beacon Centre, Wolverhampton Road East, Sedgley, WV46AZ Company number: 710129 Charity number: 216092**
**T: 01902 880111**
**E: enquiries@beaconvision.org W: www.beaconvision.org**
**Company secretary: Debbie Fox Auditors: Crowe UK LLP Investment Managers: JM Finn & Co Ltd Bankers: Natwest**
## **Our Vision**
# **A society where individuals value and protect their sight and where visual impairment does not limit or determine opportunity.**
Our vision is more than a statement, it is the guiding principle that permeates every aspect of our organisation. It influences our strategic decisions, shapes our programmes, and drives our dedication to creating an inclusive society.
## **Our Mission**
## **Our mission is to support visually impaired people and promote eye health.**
- To inspire, support and provide appropriate care that nurtures their independence, ambitions and achievement .
- Educates all about the importance of looking after their eyes.
- Highlights the impacts of sight loss .
## **Our team**
Our ELT during the 2023/2024 financial year was made up of: Chief Executive: Lisa Cowley Health and Wellbeing Director: Jan Burns MBE Assistant Health and Wellbeing Director: Becky Green (took up post in September 2023)
Income Generation Director: Stella Pitt (left her post in February 2024) Corporate Services Director: Philip Mills
## **Lisa Cowley, CEO**
Lisa leads with dedication and vision, championing innovative and collaborative services that enhance the lives of visually impaired individuals across the Black Country and South Staffordshire.
## **Kathy Roper, Chair of Trustees**
Kathy, who is severely visually impaired; draws on her experience as a retired Social Care Commissioner at Wolverhampton City Council to support Beacon’s mission while promoting a positive image of what a person living with sight loss can achieve.
## **Trustee Board**
Our Board of Trustees is made up of Kathy Roper (Chair), Phil Turner, Ian Bowers, Jeanette Suwe, Sharon Philips, Karen Scott, Beth Wynn-Williams and Clive Small who took up his role in November 2023. During this year Richard Ennis acted as a special advisor to the board.
## Beacon staff and volunteers
We are proud to be a leading local employer with 88 staff and 197 volunteers helping people to live well with sight loss. Around 9% of our staff team have lived experience of sight loss or disability and we’re proud to invest in their future.
## **Message from our chair**
As Chair of Trustees at the Beacon Centre, I am incredibly proud of our staff, team, and beneficiaries. Our 88 staff members and 197 volunteers, embody the spirit and dedication that define our organisation. It is through their tireless efforts and collaboration that we have been able to design and deliver services that truly meet the needs of our community. I want to extend my heartfelt thanks to everyone who has funded our charity. Your support comes in many forms—from grant funders and donors to shoppers and those who donate to our shops. Legacies, inmemory donations, and participation in our events like the Colour Run and Santa Run, as well as our beloved Forget Me Not Tree service, are all vital to our mission. Every contribution, no matter the size, plays a crucial role in enabling us to provide essential services to those
living with sight loss.
From my own experience I know that being blind or partially sighted presents unique challenges, and it is imperative that people with lived experience of disability and sight loss are represented at all levels of our organisation. That’s why I am delighted that almost 9% of our team have lived experience of disability, a number that is set to grow further in the
year ahead.
Their insights and perspectives are invaluable in shaping our programmes and ensuring that we remain responsive to the needs of our
members.
I would like to express special gratitude to our dedicated staff team who consistently go above and beyond. Whether delivering vital social care or driving hundreds of miles each month to help people get out of their homes through our transport service, their commitment is unparalleled.
## **Message from our chair**
Our amazing volunteers, give the greatest gift of all, their time. Their selfless dedication enables us to reach more people and provide more comprehensive support than would otherwise be possible. I’d also like to share my appreciation for the team behind the JW Hunt Cup, a charity football competition that has been supporting Beacon since 1926, whose total donations topped more than £400,000 during this financial year.
Most of all, I want to thank our members. You are the driving force behind everything we do. Your courage, resilience, and active participation inspire us daily and remind us why our work is so important.
Together, we are making a difference in the lives of those living with sight loss, and I am confident that with your continued support, we will continue to grow and succeed in our mission. Thank you all for being a part of the Beacon team.
**Scan to listen to an audio version**
## **Our Impact**
**feel empowered to be independent and confident**
**are happy with our transport service**
**would recommend Beacon**
**said they enjoy being part of our Lifestyle centre**
**have a person centered support plan and feel they are provided with a service that meets their goals**
**"It’s nice to socialise with people in a similar situation to me."**
**"It makes me feel confident because the staff really help me out, they let me be independent."**
**"It makes me feel independent because I get to come here on transport, making my own decision to come.”**
**"I love the Beacon, it makes me happy."**
**"I feel respected and dignified.”**
**“Beacon has become a large part of my life and I am so thankful this place is here.”**
**Impact percentages based on a survey on a proportion of our members early 2024**
## **Strategic report Strategic Aims**
## **Building independence**
## **Building Awareness**
Beacon builds independence by providing support services which empower people to lead more fulfilling lives.
Beacon builds awareness through campaigns and outreach initiatives, that highlight the barriers facing VI people and their solutions.
## **Building Resilience**
## **Building Partnerships**
Beacon builds resilience by diversifying its funding sources and continuing to strengthen the future viability of the charity through system efficiencies.
Beacon builds partnerships by collaborating more than ever before for improved outcomes for our members and community.
There are currently 198,000 people in the West Midlands living with sight loss, a number set to grow to 236,000 in the next eight years. As we move into our 150th anniversary next year, we will be reviewing our strategic aims to ensure they remain aligned with the increasing numbers of people living with a sight condition, the changing demographics and needs of visually impaired people in the years ahead.
## **Building independence**
Our Health and Wellbeing Team has been instrumental in fostering independence through a variety of tailored programmes and activities. These efforts have included: Our **Lifestyle** Team have delivered a total of 299 activity sessions at our centre and in the community. Our timetable, designed in collaboration with our members, is becoming ever more diverse with everything from comedy evenings and horse riding to Dhol drumming and archery. During the year we also started a 1:1 service to enable people to get help with issues such accessing health services.
Our **Supporting People** team has provided essential services, including assistance with shopping, banking, and helping members maintain their independence in daily activities. Our **Engagement Team** completed more than 570 referrals during the year.
Those accessing information, advice and guidance from our Sight Loss Advisors reported a reduction in feeling of isolation of up to 83 per cent. In a demonstration that our community partnerships are going from strength to strength, we received almost 70 referrals from our local hospital and council rehabilitation teams to provide additional support to visually impaired people
who had been using their services. Our **Befriending Service** has completed 3,640 hours of phone calls and 4,784 hours of home visits thanks to our wonderful volunteers. Our **Talking News** has sent out almost 6,000 CDs with news and updates to around 120 mostly older and housebound residents and has received around 30,000 listens
online.
## **Community Activities**
This picture showing four people outside the Black Country Living Museum during a Beacon visit was shortlisted for the Community Transport Association photograph of the year in 2023. It captured how our transport service helped improve people’s wellbeing by getting them out of the house.
## **Building independence**
Our **Living Team** have completed more than 22,000 hours supporting older, visually impaired people who are often living with other complex health needs to remain independent in their own home. Our **Transport Team** helped more than 100 people to get into their community with our door-to-door transport service. Our **Learning Team** has continued to offer crucial advice and guidance supporting those impacted by sight loss. During 2023/2024 they dealt with more than 180 referrals to our employment and skills programmes. The team also provided more than 60 digital sessions to help blind and partially sighted people to break down the
barriers to getting online.
In addition, we held our first braille course for a number of years which proved extremely popular, and more courses are now planned in for the year ahead. Our **reception team** , who are the first step on our referral pathway for people looking for support, dealt with more than 9,200 calls during the year, a figure which is growing, year on year.
## **Accessible signs**
We are always looking for ways to make our centre more inclusive for the people we support. To improve accessibility we have rolled out new colour contrasting signage this year which also contains braille. The picture to the left shows one being installed.
## **Beacon Mermaids**
One of our most popular activities this year has been swimming. Our regular members became so confident in their swimming that they signed up to Beacon’s Swim 250 Challenge and together swam 250 lengths during September helping to raise more than £450 in aid of Beacon. The graphic on the right shows a cabin window with water.
## **Building Awareness**
Building awareness of the impact of sight loss is crucial for our charity as it fosters understanding, support, and inclusion for all living with a visual impairment.
Our social media platforms continue to grow with more than 7,650 followers across all our platforms. We have seen an increase in reach of more than 100 per cent on Facebook with more than 116,000 accounts viewing a post from the Beacon Centre during the past financial year. This is due to both a rise in organic reach and our increased use of advertising to target more people. Our Colour Run and Santa Runs jointly attracted almost 500 runners this year bringing in a joint gross income of just under £10,000, almost £2,000 of which was raised by participants gaining sponsorship.
In addition to attending events across the community, our engagement team has delivered 11 sight loss awareness courses to local businesses and other organisations wanting to be more accessible for people with sight loss. External training and events included sessions with Dudley MBC housing staff, Churchill Shopping Centre, Integrated Plus Connect, medical students at Buckingham University, Collins Aerospace and more.
We have continued to develop our hub and spoke model aimed at increasing community engagement and awareness and has seen the successful establishment of a group in Queen’s Cross in Dudley to complement our existing group in Wolverhampton. There are now plans to launch another community-based group in the coming financial year.
## **Bright For Sight**
Our Bright For Sight Day in October achieved buy in from a number of schools, nurseries and local businesses. Our engagement team completed two school assemblies to mark the day and they proved so successful we are planning on expanding on this in the year ahead as part of plans to work with a younger age group. The picture shows someone hosting a Beacon information table with balloons.
## **Building Awareness**
We have developed our marketing materials during the year. Thanks to funding received via WVCA we were able to focus on the recruitment of our volunteers, hosting open days in our shops, purchasing volunteer promotional t-shirts, leaflets, posters and a banner for use when out at events.
A number of teams have also received new marketing materials including care, learning and engagement that our staff with lived experience of sight loss were able to input into the design of to ensure accessibility.
We worked with local authorities in our area to make voting more accessible for people with sight loss. Thus resulted in a number of measures being introduced to help blind and partially sighted people vote independently. **Budget 1 Budget 2 Budget 3** The Beacon Centre’s commitment to excellence was acknowledged through the shortlisting of our Sight Loss Advisor, Nathan Richards, in the Black Country Chamber Awards for Employee of the Year where he was highly commended.
We were also finalists in the Dudley News Community Awards, the CTA awards and in two categories at the Visionary Awards (the annual awards for local sight loss charities).
## **Weekly Sight Loss Radio Slots**
One of our Sight Loss Advisors had a weekly feature on one of our local radio stations WCR, giving advice and tips on how people can look after their eyes. The station has also begun broadcasting UV levels in its weather forecast to remind people about the need to wear sunglasses. Pictured left is the WCR logo..
## **Building Resilience**
This year has been a testament to our commitment, resourcefulness, and the unwavering support from our community and funders. Our financial stability received a tremendous boost at the start of the year with the confirmation of National Lottery Reaching Communities funding, amounting to £438,506 over five years. Following this over the past 12 months we have provided information, advice, and support to almost 3,000 sighted and non-sighted individuals. This funding has been pivotal in allowing us to enhance our services and reach a broader audience.
We are proud to report that we achieved our grant target for the year, securing almost £240,000 from various generous funders. Their support has been instrumental in driving our mission forward, and we extend our
deepest gratitude to each of them. This year, we hosted two major fundraising events: the Colour Run and the Santa Run. These events jointly attracted almost 500 enthusiastic runners, bringing in a gross income of just under £10,000. Of this amount, nearly £2,000 was raised by participants who gained sponsorships. These events not only helped in raising funds but also in increasing
community engagement and awareness about our cause. Internal communications has improved with quarterly email updates through our new Beacon Buzz newsletter alongside our regular CEO updates, fostering a better informed and connected staff community. We now have established member and volunteer newsletters available in a variety of formats which has boosted engagement and participation in activities.
## **Easter Raffles**
Due to the timing of Easter, we held two raffles during this financial year. Our 2024 raffle saw a big increase in income raising £867 gross compared to a total of £572 in our 2023 Easter Raffle. Our staff and volunteers enthusiastically promoted these events, showcased by this picture of two volunteers in Easter outfits promoting ticket sales.
**Building Resilience** Our annual staff wellbeing survey found that 100% of people feel proud to work for Beacon and 100% of staff feel Beacon is successful in supporting people with 96% saying Beacon is a good place to work. We secured funding from TPT for a new Community Support Intern who has been in place since January working to further improve our community links and awareness of sight loss. We would also like to thank everyone who contributed through collection boxes, legacies, in-memory donations, and Give As You Earn
schemes. Additionally, the support from those who attended our Forget Me Not Service has been invaluable. These contributions, both big and small, collectively play a crucial role in sustaining our operations and expanding our services. To further improve our retail offer, the Beacon Centre has partnered with retail consultants to elevate our retail operations and enhance the shopping experience for our customers. This collaboration aims to optimise store layouts, diversify product offerings, and implement new marketing strategies to boost sales and Gift Aid income. By leveraging the consultants' industry insights and best practices, we are committed to creating a more engaging and supportive retail environment that not only meets but exceeds the expectations of our community and expect to see the benefits in the year ahead. All of this has been backed up with the policies, procedures and systems required and evidenced by our finance team who completed over 9,000 transactions, to ensure our efficiency and sustainability,
## **Thank you**
# **Thank you to all our grant funders for empowering the Beacon Centre to help people live well with sight loss.**
**The West Brom Building Society**
**Dudley Council**
**N** ~~**ational Lott**~~ **ery Community Fund Thomas Dudley Vision Foundation/ Fight For Sight**
**Hospital Saturday Fund**
**Dudley North Community Forum Black Country ICB West Midlands Police and Crime Commissioner Helping Communities Fund**
**Budget 3 Dudley Household Support Fund**
**UK Shared Prosperity Fund Wider Determinants Blakemore Foundation Black Country Healthcare**
**Wolverhampton Community Voluntary Action**
**Thomas Pocklington Trust Visionary Sandwell Council City of Wolverhampton Council**
## **Building Partnerships**
Over the past year, we have significantly advanced our partnership work by engaging in various collaborative projects and forming crucial alliances. These efforts have not only expanded our reach but have also enhanced the quality and breadth of services we provide to individuals with sight loss. Our sight loss advisors have been proactive, completing almost 300 outgoing referrals to various community partners, including New Cross Hospital Eye Clinic and Dudley Rehabilitation Officers. These referrals ensure that the holistic needs of our beneficiaries, both clinical and personal, are addressed comprehensively. By integrating with these community partners, we ensure a seamless support system for individuals with sight loss, promoting their overall wellbeing.
We have made significant progress in the Health Communities Together project, where we serve as the lead partner. This initiative focuses on improving links between health and care services, promoting the role of the voluntary sector, and underscoring the value of cross-sector partnerships. Our leadership in this project is enhancing the synergy between different sectors, leading to better health outcomes for our beneficiaries.
## **Getting the most out of life**
Beacon has played a pivotal role in the Wider Determinants project in Dudley which received funding this year. It has seen us coordinate with partners such as Chadd Ltd, Top Church Training, and Saltmine Trust. This collaboration has positively impacted thousands of people in Dudley by focusing on enhancing welfare rights, housing solutions, and socioeconomic support. Additionally, the project aims to improve access to green spaces and promote activities that foster physical health and social connectivity. Our collective efforts are helping beneficiaries get the most out of life.
**Building Partnerships** We continue to collaborate with community partners from the NHS and local authorities across the region through our Sharing the Vision Project. This initiative brings together key local professionals working in the sector to discuss improvements, successful strategies, and gaps in provision for the visually impaired community. By fostering these discussions, we aim to enhance the services available to our beneficiaries and address unmet needs effectively. One development this year has seen our staff team getting the chance to shadow local authority rehabilitation officers. Partnerships also play a key role in the success of our Living Team who work alongside GPs, OTs, District Nurses, Social Workers and Social Services to ensure a holistic approach to care that ensures the whole person is considered at all times, building on our already strong partnerships with ECLOs and ROVIs. Beacon is committed to improving the whole health and care system for our communities. As such we dedicate resource to system development and improvement, our CEO is the VCSE representative for Health Inequalities for the Black Country Integrated Care board and she sits on the Black Country Provider Collaborative Eye Health network. These are just two examples of the collaborative leadership roles we take to influence, policy and practice for communities across the Black Country and beyond.
## **Local Project, National Impact**
One of our most impactful partnerships this year has been with the Dudley charitable housing association, Chadd. With funding from Fight for Sight we compiled a toolkit to make domestic abuse refuges more accessible for people with sight loss. This toolkit has established a beneficial referral pathway between our organisations and enabled all our staff to receive domestic abuse awareness training. This partnership is a significant step towards ensuring that visually impaired individuals have access to safe and supportive environments. It was launched at the annual Visionary conference for the sight loss sector and has now been sent to almost every local sight loss charity in the country. The graphic shows the front cover of the toolkit.
## **Structure, governance and management**
## **Governing documentation**
Beacon Centre for the Blind is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £5.
## **Recruitment and appointment of trustees**
The directors of the company are also charity trustees for the purposes of charity law. Directors may serve up to three consecutive three-year terms. The charity’s work focuses upon blind and partially sighted people first and foremost but to also work with people with other disabilities where appropriate. The Board of Trustees seeks to ensure that the needs of the visually impaired are appropriately reflected through the diversity of the trustee body. The more traditional business skills are well represented on the Board and, in the event of particular skills being lost through retirement, individuals who fit into the trustees’ skills matrix are approached to offer themselves for election to the Board.
## **Trustee induction and training**
New trustees undergo an induction process to brief them on their legal obligations under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During this process they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. The Charity has taken out trustee indemnity insurance.
## **Structure, governance and management**
## **Organisational information**
The Charity has two wholly owned subsidiaries: Beacon4life Community Interest Company and Beacon Enterprise Ltd. Beacon4Life CIC was originally formed to operate an optometry business which no longer trades. Beacon Enterprise Ltd carries out all other non-charitable trading in order to generate income to support the parent charity.
The Charity is administered by the Board of Trustees, which may comprise up to 15 members. The Articles recommend that as far as possible a minimum of 20% of the trustees should be visually impaired. The Board meets at least four times a year and there are sub-committees chaired by various Trustees and including the relevant Directors, covering Finance & General Purposes and Charity Operations, which meet regularly and submit reports to the main trustee body. The Remuneration Committee meets annually and additionally as required, and reports to the Board through the Finance & General Purposes Committee. The sub-committee structure has forged stronger links between Trustees and managers and enables a greater understanding of the day-to-day work of the Charity by the Trustees.
A Chief Executive Officer (“CEO”) is appointed by the Trustees to manage the operations of the Charity. To facilitate effective operations, the CEO is responsible for ensuring that the Charity delivers the services specified and that financial targets are met. The Remuneration Committee, on which only Trustees have voting powers, sets the remuneration for the CEO and the whole staff of the Charity.
## **Financial information**
In the year to 31 March 2024, the charity operated a deficit of £291k before investment gains/losses (2023: £309k deficit). After investment gain, the net deficit is £181k (2023: £808k deficit). Investment income in the year is in line with prior year. Income was £81k higher than the previous year, there was movement in income strands with strong performance in donations and legacies and grants and trusts.
## **Structure, governance and management**
## **Risk Management**
The Trustees have a formal risk management process to assess risks to the Charity and its subsidiaries and implement risk management strategies. This involves identifying the type of risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks.
As part of this process the Trustees have reviewed the adequacy of the Charity’s internal control systems and consider that they conform to guidelines issued by the Charity Commission. A risk register is maintained on an ongoing basis and is reviewed at least annually.
Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. Particular attention has been focused on both financial and non-financial risks arising from fire, health, safety, care, and wellbeing of vulnerable of residents and service users.
A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.
The principal risks identified were workforce capacity and availability, consequent inability to deliver services and the operating model not being appropriate, also failure to meet budgeted performance.
To mitigate against the workforce capacity risks the management have developed and monitored training matrices to ensure availability of skills and introduced a reward scheme for employees successfully introducing applicants for available positions. The charity has engaged with new groups of visually impaired people to ensure our services are relevant and effective. The Board plans has reviewed the charity’s compliance with the Charity Commission’s Governance Code throughout the year.
## **Structure, governance and management**
## **Investment policy**
Funds that are surplus to immediate needs have been invested in accordance with the powers available to the Trustees.
The current Investment Policy is to invest, via professional managers, in funds which are specifically tailored to the needs of a charity, to produce a sustainable income flow to support Beacon Centre’s charitable activities whilst limiting the risk to capital values.
The charity does not invest directly in alcohol or tobacco related products due to the potential impact of these products on sight loss. During the year, the portfolio returned an income, net of fees, of 2.4%. Total return, including gain/loss of revaluation and net of fees, was £423k deficit which was -13.3% of average portfolio value. The investment manager works towards a target income return of 3% agreed with the Board of Trustees. During the year, the portfolio appreciated 6.8% during the year. Total return, including gain/loss of revaluation and net of fees, was £110k gain.
The Charity also holds a programme related investment of £5,000 (net of impairment) in Conigital Ltd, which is developing accessible systems for autonomous vehicles.
This furthers the strategic aim to promote independence for people living with sight loss and is a collaboration to ensure that new technologies take account of their needs.
The original cost of the investment was £300k; the Trustees believed there is insufficient certainty of the future cashflows at this point and decided to impair the investment to a share of net assets.
## **Structure, governance and management**
## **Responsibilities of the Trustees**
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 charity and of the surplus or deficit of the charity for that year. In preparing those financial statements, the Trustees are required to:
·Select suitable accounting policies and then apply them consistently.
·Make judgements and estimates that are reasonable and prudent. ·State whether applicable accounting standards and statements of recommended practice have been followed and give details of any departures. ·Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
In line with its Articles of Association, the Beacon Centre provides trustees with ‘Trustees and Individual Liability’ insurance cover up to £1million. The Trustees are responsible for ensuring that Beacon Centre has appropriate systems of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, and to provide reasonable assurance that:
·The charity is operating efficiently and effectively.
·Its assets are safeguarded against unauthorised use or disposition.
·Proper records are maintained and financial information used within the charity or for its publication is reliable.
·The charity complies with relevant laws and regulations.
## **Structure, governance and management**
## **Reserves policy**
The reserves policy is reviewed by the Board of Trustees at least annually. Each reserve is addressed individually, taking into account the current risks and strategic objectives.
The trustees are acutely aware of the fluctuations in income, especially around donations and legacies and local authority contracts. The current reserves have been put into place with due consideration given around these areas. The general unrestricted general fund enables medium term investments (which generate income for the organisation) and a workable level of cash to effectively run the charity’s operations. The Trustees have determined that it is appropriate to hold free reserves equivalent to between 6 and 12 months of budgeted expenditure. The free reserves of £2,622k at 31 March 2024 represent 10 months of expenditure (£3,097k budgeted expenditure).
In view of the need to maintain services to vulnerable members, the Trustees believe it is reasonable to carry these reserves. Free reserves are calculated after deducting restricted funds and designated capital funds, which are set out in note 13 to the accounts.
## **Structure, governance and management**
## **Trustee statement**
The Trustees, who are directors for the purpose of company law, who served during the year and up to the date of this report, are listed in this report.
In accordance with company law, as the company’s directors, we certify that: ·Insofar as we are aware, there is no relevant audit information of which the company’s auditors are unaware.
·We have complied with the duty in section four of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission.
·We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.
The Trustees declare that this report was approved by the Board on 27th of November 2024 and signed on its behalf by:
## **Kathy Roper Chair of Trustees**
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, 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 of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
**K Roper** (Chair of Trustees) Date: 27 November 2024
Page 22
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND**
## **Opinion**
We have audited the financial statements of Beacon Centre for the Blind (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 23
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 24
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102).
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's and the group's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the charitable company's and the group's operations were General Data Protection Regulation (GDPR), Health and safety legislation, employment law, and Anti-fraud, bribery and corruption legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the timing of recognition of certain income streams. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals and reviewing accounting estimates for biases, designing audit procedures to test the timing of income recognition and reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Page 25
**(A company limited by guarantee)**
## **BEACON CENTRE FOR THE BLIND**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BEACON CENTRE FOR THE BLIND (CONTINUED)**
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Helen Blundell LLB FCA FCIE DChA (Senior statutory auditor)**
for and on behalf of **Crowe U.K. LLP** Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG
Date: 18 December 2024
Page 26
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds:
7,8
Fundraising activities
Investment management
Charitable activities
9
**Total expenditure**
**Net (expenditure)/income before net**
**gains/(losses) on investments**
Net gains/(losses) on investments
**Net (expenditure)/income**
Transfers between funds
23
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£000**
**470**
**1,080**
**765**
**89**
**2,404**
**1,197**
**22**
**1,569**
**2,788**
**(384)**
**107**
**(277)**
**14**
**(263)**
**5,651**
**(263)**
**5,388**|**Restricted**
**funds**
**2024**
**£000**
**-**
**178**
**-**
**2**
**180**
**-**
**-**
**87**
**87**
**93**
**3**
**96**
**(14)**
**82**
**857**
**82**
**939**|**Total**
**funds**
**2024**
**£000**
**470**
**1,258**
**765**
**91**
**2,584**
**1,197**
**22**
**1,656**
**2,875**
**(291)**
**110**
**(181)**
**-**
**(181)**
**6,508**
**(181)**
**6,327**|_Total_
_funds_
_2023_
_£000_
_324_
_1,104_
_974_
_101_
_2,503_
_1,132_
_24_
_1,656_
_2,812_
_(309)_
_(499)_
_(808)_
_-_
_(808)_
_7,316_
_(808)_
_6,508_|
|---|---|---|---|---|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 33 to 60 form part of these financial statements.
Page 27
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee) REGISTERED NUMBER: 710129**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Intangible assets
13
Tangible assets
14
Investments
15
Social investments
16
**Current assets**
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
20
**Total net assets**|**17**
**442**
**538**
**997**
**(484)**|**2024**
**£000**
**-**
**3,379**
**2,860**
**5**
**6,244**
**513**
**6,757**
**(430)**
**6,327**|_18_
_543_
_302_
_863_
_(336)_|_2023_
_£000_
_1_
_3,384_
_3,025_
_5_
_6,415_
_527_
_6,942_
_(434)_
_6,508_|
|---|---|---|---|---|
Page 28
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee) REGISTERED NUMBER: 710129**
## **CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024**
|**Note**
**Charity funds**
Restricted funds
23
Unrestricted funds
Designated funds
23
General funds
23
Total unrestricted funds
23
**Total funds**|**3,447**
**1,941**|**2024**
**£000**
**939**
**5,388**
**6,327**|_3,578_
_2,073_|_2023_
_£000_
_857_
_5,651_|
|---|---|---|---|---|
||||||
|||||_6,508_|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **K Roper**
(Chair of Trustees) Date: 27.11.24
P.Turner
Trustee Date: 27.11.24
The notes on pages 33 to 60 form part of these financial statements.
Page 29
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee) REGISTERED NUMBER: 710129**
## **CHARITY BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Intangible assets
13
Tangible assets
14
Investments
15
Social investments
16
**Current assets**
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
20
**Total net assets**|**15**
**460**
**520**
**995**
**(483)**|**2024**
**£000**
**-**
**3,379**
**2,860**
**5**
**6,244**
**512**
**6,756**
**(430)**
**6,326**|_15_
_568_
_277_
_860_
_(336)_|_2023_
_£000_
_1_
_3,384_
_3,029_
_5_
_6,419_
_524_
_6,943_
_(434)_
_6,509_|
|---|---|---|---|---|
Page 30
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee) REGISTERED NUMBER: 710129**
## **CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024**
|**Note**
**Charity funds**
Restricted funds
23
Unrestricted funds
Designated funds
23
General funds
23
Total unrestricted funds
23
**Total funds**|**3,447**
**1,940**|**2024**
**£000**
**939**
**5,387**
**6,326**|_3,578_
_2,074_|_2023_
_£000_
_857_
_5,652_|
|---|---|---|---|---|
||||||
|||||_6,509_|
The Charity's net movement in funds for the year was a loss of _£_ 183,000 _(2023 - loss of £856,000)._
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
P Turner Trustee Date: 27.11.24
Page 31
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
26
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Net cash provided by investing activities**
**Change in cash and cash equivalents in the year**
Bank and cash balances
**Cash and cash equivalents at the end of the year**
27|**2024**
**£000**
**(14)**
**91**
**(116)**
**278**
**(3)**
**250**
**236**
**302**
**538**|_2023_
_£000_
_(277)_
_101_
_(10)_
_28_
_-_
**119**
**(158)**
_460_
_302_|
|---|---|---|
The notes on pages 33 to 60 form part of these financial statements
Page 32
**BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
# **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. General information**
Beacon Centre for the Blind is a company limited by guarantee, (registered number 710129), which is incorporated and registered in England and Wales. Its charity registration number is 216092. The registered office is Wolverhampton Road East, Wolverhampton, WV4 6AZ.
The members of the Company are the Board of Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £5 per member of the Company.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Beacon Centre for the Blind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.
## **2.2 Going concern**
The financial statements have been prepared on the going concern basis. The Trustees considered a detailed forecast of cashflows to March 2027, which included prudent estimates of income and expenditure, which indicated that reserves would still remain sufficient at the end of that period. They are, therefore, of the view that Beacon Centre for the Blind will continue to operate on this basis for the foreseeable future.
Judgements and estimates have been used in the preparation of these financial statements, but the trustees do not consider that they would be likely to lead to a material misstatement.
Page 33
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **2.4 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Donated services or facilities are recognised when the company has control, any conditions associated with the donations have been met, the receipt of economic benefit from the use by the company of the item is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), general volunteer time is not recognised but refer to the Board of Trustees’ report for more information about their contribution.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 34
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
## **2.6 Intangible assets and amortisation**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Computer software - 25 % straight line
Page 35
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|Freehold property|-|2%|
|---|---|---|
|Plant and machinery|-|15%|
|Motor vehicles|-|20%|
|Computer equipment|-|25%|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated statement of financial activities.
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Programme related investments are shown at cost less provision for impairment.
## **2.9 Operating leases**
Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.
## **2.10 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Page 36
**BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Accounting policies (continued)**
## **2.11 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.
## **2.12 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
Page 37
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2024**
**£000**
Donations
76
Legacies
394
**Total 2024**
470
_Unrestricted_
_funds_
_2023_
_£000_
Donations
_92_
Legacies
_232_
_Total 2023_
_324_|**Total**
**funds**
**2024**
**£000**
**76**
**394**
**470**|
|---|---|
||_Total_
_funds_
_2023_
_£000_
_92_
_232_
_324_|
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£000**
Helping the visually impaired
633
Grants
447
**Total 2024**
1,080|**Restricted**
**funds**
**2024**
**£000**
-
178
178|**Total**
**funds**
**2024**
**£000**
**633**
**625**
**1,258**|
|---|---|---|
Page 38
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **4. Income from charitable activities (continued)**
|Helping the visually impaired
Grants
_Total 2023_|_Unrestricted_
_funds_
_2023_
_£000_
_794_
_(12)_
_782_|_Restricted_
_funds_
_2023_
_£000_
_-_
_322_
_322_|_Total_
_funds_
_2023_
_£000_
_794_
_310_
_1,104_|
|---|---|---|---|
## **5. Income from trading activities**
## **Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2024**
**£000**
Helping the Visually Impaired
31
Hospitality
43
Other trading income
691
**Total 2024**
765
_Unrestricted_
_funds_
_2023_
_£000_
Helping the Visually Impaired
_26_
Hospitality
_62_
Other trading income
_886_
_Total 2023_
_974_|**Total**
**funds**
**2024**
**£000**
**31**
**43**
**691**
**765**|
|---|---|
||_Total_
_funds_
_2023_
_£000_
_26_
_62_
_886_
_974_|
Page 39
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **6. Investment income**
|**Unrestricted**
**funds**
**2024**
**£000**
Managed investments
89
_Unrestricted_
_funds_
_2023_
_£000_
Managed investments
_98_|**Restricted**
**funds**
**2024**
**£000**
2
_Restricted_
_funds_
_2023_
_£000_
_3_|**Total**
**funds**
**2024**
**£000**
**91**|
|---|---|---|
|||_Total_
_funds_
_2023_
_£000_
_101_|
## **7. Expenditure on raising funds**
## **Fundraising activities**
|**Unrestricted**
**funds**
**2024**
**£000**
Fundraising activities
450
Fundraising wages and salaries
697
Fundraising depreciation
50
**Total 2024**
1,197|**Total**
**funds**
**2024**
**£000**
**450**
**697**
**50**
**1,197**|
|---|---|
Page 40
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **7. Expenditure on raising funds (continued)**
## **Fundraising activities (continued)**
|Fundraising activities
Fundraising wages and salaries
Fundraising depreciation
_Total 2023_
Expenditure on fundraising includes retail activities.|_Unrestricted_
_funds_
_2023_
_£000_
_396_
_686_
_50_
_1,132_|_Total_
_funds_
_2023_
_£000_
_396_
_686_
_50_
_1,132_|
|---|---|---|
||||
## **8. Investment management fees**
|**Unrestricted**
**funds**
**2024**
**£000**
Investment management fees
22
_Unrestricted_
_funds_
_2023_
_£000_
Investment management fees
_24_|**Total**
**funds**
**2024**
**£000**
**22**|
|---|---|
||_Total_
_funds_
_2023_
_£000_
_24_|
Page 41
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **9. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£000**
Helping the visually impaired
1,553
Governance costs
16
**Total 2024**
1,569
_Unrestricted_
_funds_
_2023_
_£000_
Helping the visually impaired
_1,335_
Governance costs
_14_
_Total 2023_
_1,349_|**Restricted**
**funds**
**2024**
**£000**
87
-
87
_Restricted_
_funds_
_2023_
_£000_
_307_
_-_
_307_|**Total**
**2024**
**£000**
**1,640**
**16**
**1,656**|
|---|---|---|
|||_Total_
_2023_
_£000_
_1,642_
_14_
_1,656_|
## **Summary by expenditure type**
|Helping the visually impaired
Governance costs
**Total 2024**|**Staff costs**
**2024**
**Depreciation**
**2024**
**£000**
**£000**
1,208
72
-
-
1,208
72|**Other costs**
**2024**
**£000**
360
16
376|**Total**
**2024**
**£000**
**1,640**
**16**
**1,656**|
|---|---|---|---|
Page 42
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **9. Analysis of expenditure on charitable activities (continued)**
## **Summary by expenditure type (continued)**
|Helping the visually impaired
Governance costs
_Total 2023_|_Staff costs_
_2023_
_£000_
_1,187_
_-_
_1,187_|_Depreciation_
_2023_
_£000_
_84_
_-_
_84_|_Other costs_
_2023_
_£000_
_371_
_14_
_385_|_Total_
_2023_
_£000_
_1,642_
_14_
_1,656_|
|---|---|---|---|---|
## **10. Auditor's remuneration**
||**2024**|_2023_|
|---|---|---|
||**£000**|_£000_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**15**|_14_|
## **11. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2024**
**£000**
**1,676**
**122**
**107**
**1,905**|_Group_
_2023_
_£000_
_1,653_
_118_
_102_
_1,873_|**Charity**
**2024**
**£000**
**1,643**
**122**
**107**
**1,872**|_Charity_
_2023_
_£000_
_1,612_
_118_
_102_
_1,832_|
|---|---|---|---|---|
During the year a redundancy settlement of £3,699 _(2023 - Nil)_ was paid. At the year end there was £Nil _(2023 - £Nil)_ outstanding.
Page 43
**BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **11. Staff costs (continued)**
The average number of persons employed by the Charity during the year was as follows:
|Beacon Care+
Charitable services
Fundraising & charity shops
Hospitality & facilities
Management & administration|**Group**
**2024**
**No.**
**29**
**20**
**26**
**10**
**10**
**95**|_Group_
_2023_
_No._
_34_
_23_
_28_
_10_
_10_|
|---|---|---|
|||_105_|
The average headcount expressed as full-time equivalents was:
|Beacon Care+
Charitable services
Fundraising & charity shops
Hospitality & facilities
Management & administration|**Group**
**2024**
**No.**
**17**
**16**
**18**
**5**
**7**
**63**|_Group_
_2023_
_No._
_18_
_18_
_18_
_5_
_8_|
|---|---|---|
|||_67_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**Group**|_Group_|
|---|---|---|---|
|||**2024**|_2023_|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_1_|
The key management personnel of the Charity comprise the Chief Executive Officer and the Executive Leadership Team. The total employee benefits of the key management personnel of the Charity during the period were £218k _(2023: £230k)_ .
Page 44
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 March 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
Trustee indemnity insurance is provided to £1,000,000 under the company’s combined insurance programme.
## **13. Intangible assets**
## **Group and Charity**
|**Cost**
At 1 April 2023
At 31 March 2024
**Amortisation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Computer**
**software**
**£000**
**21**|
|---|---|
||**21**|
||**20**
**1**|
||**21**|
||**-**|
||_1_|
Page 45
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **14. Tangible fixed assets**
## **Group and Charity**
|**Cost or valuation**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Freehold**
**property**
**£000**
**4,566**
**115**
**4,681**
**1,237**
**95**
**1,332**
**3,349**
_3,329_|**Plant and**
**machinery**
**£000**
**387**
**-**
**387**
**366**
**5**
**371**
**16**
_21_|**Motor**
**vehicles**
**£000**
**165**
**-**
**165**
**165**
**-**
**165**
**-**
_-_|**Computer**
**equipment**
**£000**
**311**
**1**
**312**
**277**
**21**
**298**
**14**
_34_|**Total**
**£000**
**5,429**
**116**
**5,545**|
|---|---|---|---|---|---|
||||||**2,045**
**121**
**2,166**|
||||||**3,379**|
||||||_3,384_|
Page 46
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **15. Fixed asset investments**
|**Group**
**Cost or valuation**
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_
**Charity**
**Cost or valuation**
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Investments**
**in**
**subsidiary**
**companies**
**£000**
**4**
**-**
**(4)**
**-**
**-**
**-**
_4_|**Listed**
**investments**
**£000**
**3,024**
**3**
**(278)**
**110**
**2,859**
**2,859**
_3,024_
**Listed**
**investments**
**£000**
**3,024**
**3**
**(278)**
**110**
**2,859**
**2,859**
_3,024_|**Minority**
**investment**
**£000**
**1**
**-**
**-**
**-**
**1**
**1**
_1_
**Minority**
**investment**
**£000**
**1**
**-**
**-**
**-**
**1**
**1**
_1_|**Total**
**£000**
**3,025**
**3**
**(278)**
**110**
**2,860**
**2,860**
_3,025_
**Total**
**£000**
**3,029**
**3**
**(282)**
**110**
**2,860**
**2,860**
_3,029_|
|---|---|---|---|---|
Page 47
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **15. Fixed asset investments (continued)**
## **Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
**Name Company Registered office or Principal activity Class of Holding number principal place of shares business** Beacon Enterprise Ltd 11589900 Wolverhampton Road East Hospitality and Ordinary 100% Wolverhampton other trading activity WV4 6AZ
The financial results of the subsidiary for the year were:
|**Name**|**Income**|**Expenditure**|**Profit/(Loss)**|**Net assets**|
|---|---|---|---|---|
||**£000**|**£000**|**/ Surplus/**|**£000**|
||||**(Deficit) for**||
||||**the year**||
||||**£000**||
|Beacon Enterprise Ltd|**41**|**88**|**(47)**|**(487)**|
During the year expenses of £43,016 _(2023 - £68,363_ ) were recharged by the Charity to Beacon Enterprise Ltd. At the year end Beacon Enterprise Ltd owed £67,000 after a provision of £436,000 _(2023 - £32,000 after a provision of £440,000)_ .
During the year Beacon4Life CIC paid the Charity a grant of £1,711 _(2023 - £2,500)._ Beacon4Life CIC (Company number 9628983) was dissolved in June 2024.
Page 48
## **BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **16. Social investments**
## **Group and Charity**
|**Programme**
**related**
**investments**
**£000**
**Cost or valuation**
At 1 April 2023
**153**
**153**
**Impairment provision**
At 1 April 2023
**148**
**148**
**Net book value**
At 31 March 2024
**5**
At 31 March 2023
**5**|**Total**
**£000**
_153_|
|---|---|
||_153_|
||_148_|
||_148_|
||_5_|
||_5_|
The programme related investments is in Cognital Ltd, which is developing systems for autonomous vehicles. This furthers the strategic aim to promote independence for people living with sight loss, and is a collaboration to ensure that new technologies take account of their needs.
## **17. Stocks**
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2024**|_2023_|**2024**|_2023_|
||**£000**|_£000_|**£000**|_£000_|
|Finished goods and goods for resale|**17**|_18_|**15**|_15_|
Page 49
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **18. Debtors**
|**Due after more than one year**
Prepayments and accrued income
**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2024**
**£000**
**158**
**158**
**125**
**-**
**29**
**130**
**442**|_Group_
_2023_
_£000_
_166_
_166_
_139_
_-_
_21_
_217_
_543_|**Charity**
**2024**
**£000**
**158**
**158**
**122**
**21**
**29**
**130**
**460**|_Charity_
_2023_
_£000_
_166_|
|---|---|---|---|---|
|||||_166_
_133_
_32_
_20_
_217_|
|||||_568_|
## **19. Creditors: Amounts falling due within one year**
|**Group**
**2024**
**£000**
Trade creditors
**181**
Other taxation and social security
**30**
Accruals and deferred income
**273**
**484**
**20.**
**Creditors: Amounts falling due after more than one year**
**Group**
**2024**
**£000**
Accruals and deferred income
**430**|_Group_
_2023_
_£000_
_98_
_29_
_209_
_336_
_Group_
_2023_
_£000_
_434_|**Charity**
**2024**
**£000**
**180**
**30**
**273**
**483**
**Charity**
**2024**
**£000**
**430**|_Charity_
_2023_
_£000_
_98_
_29_
_209_|
|---|---|---|---|
||||_336_|
||||_Charity_
_2023_
_£000_
_434_|
Page 50
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **21. Accruals and deferred income**
Deferred income is lease capital received, amortised over the life of the lease.
|Deferred income at 1 April 2023
Amortisation
**Deferred income at 31 March 2024**|**Group**
**2024**
**£000**
**434**
**(4)**
**430**|_Group_
_2023_
_£000_
_438_
_(4)_
_434_|**Charity**
**2024**
**£000**
**434**
**(4)**
**430**|_Charity_
_2023_
_£000_
_438_
_(4)_|
|---|---|---|---|---|
|||||_434_|
## **22. Financial instruments**
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2024**|_2023_|**2024**|_2023_|
||**£000**|_£000_|**£000**|_£000_|
|**Financial assets**|||||
|Financial assets measured at fair value|||||
|through income and expenditure|**2,859**|_3,024_|**2,859**|_3,024_|
Financial assets measured at fair value through income and expenditure comprise listed investments.
Page 51
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Capital reserve
Technology
Gym
refurbishment
Property renewal
COVID
resilience
Vehicle renewal
**General funds**
Unrestricted
general funds
**Total**
**Unrestricted**
**funds**|**Balance at 1**
**April 2023**
**£000**
**2,766**
**125**
**25**
**62**
**500**
**100**
**3,578**
**2,073**
**5,651**|**Income**
**£000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**2,404**
**2,404**|**Expenditure**
**£000**
**(151)**
**-**
**-**
**(6)**
**-**
**-**
**(157)**
**(2,631)**
**(2,788)**|**Transfers**
**in/out**
**£000**
**26**
**-**
**-**
**-**
**-**
**-**
**26**
**(12)**
**14**|**Gains/**
**(Losses)**
**£000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**107**
**107**|**Balance at**
**31 March**
**2024**
**£000**
**2,641**
**125**
**25**
**56**
**500**
**100**
**3,447**|
|---|---|---|---|---|---|---|
|||||||**1,941**|
|||||||**5,388**|
Page 52
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds (continued)**
|**Restricted**
**funds**
Capital Project
Willets Trust
Beacon Butler
Youth
Recreation &
Development
Healthy
Communities
Together
Health &
Wellbeing
Workshops for
the Visually
Impaired
**Total of funds**|**Balance at 1**
**April 2023**
**£000**
**618**
**80**
**4**
**36**
**56**
**4**
**59**
**857**
**6,508**|**Income**
**£000**
**-**
**2**
**-**
**-**
**145**
**25**
**8**
**180**
**2,584**|**Expenditure**
**£000**
**(17)**
**-**
**(1)**
**-**
**(59)**
**-**
**(10)**
**(87)**
**(2,875)**|**Transfers**
**in/out**
**£000**
**-**
**(14)**
**-**
**-**
**-**
**-**
**-**
**(14)**
**-**|**Gains/**
**(Losses)**
**£000**
**-**
**3**
**-**
**-**
**-**
**-**
**-**
**3**
**110**|**Balance at**
**31 March**
**2024**
**£000**
**601**
**71**
**3**
**36**
**142**
**29**
**57**
**939**|
|---|---|---|---|---|---|---|
|||||||**6,327**|
Page 53
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Capital reserve
Technology
Gym
refurbishment
Property renewal
COVID
resilience
Vehicle renewal
**General funds**
Unrestricted
general funds
**Total**
**Unrestricted**
**funds**|_Balance at_
_1 April 2022_
_£000_
_2,874_
_150_
_25_
_73_
_500_
_-_
_3,622_
_2,911_
_6,533_|_Income_
_£000_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_2,178_
_2,178_|_Expenditure_
_£000_
_(117)_
_(25)_
_-_
_(11)_
_-_
_-_
_(153)_
_(2,352)_
_(2,505)_|_Transfers_
_in/out_
_£000_
_9_
_-_
_-_
_-_
_-_
_100_
_109_
_(178)_
_(69)_|_Gains/_
_(Losses)_
_£000_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(486)_
_(486)_|_Balance at_
_31 March_
_2023_
_£000_
_2,766_
_125_
_25_
_62_
_500_
_100_
_3,578_|
|---|---|---|---|---|---|---|
|||||||_2,073_|
|||||||_5,651_|
Page 54
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds (continued)**
|**Restricted**
**funds**
Capital Project
Willets Trust
Stourbridge
Garden
Building Better
Opportunities
Beacon Butler
Youth
Recreation &
Development
Healthy
Communities
Together
Eveson Trust
(lifestyle support)
Health &
Wellbeing
Workshops for
the Visually
Impaired
Community
Transport
Employment
Projects
**Total of funds**|_Balance at_
_1 April 2022_
_£000_
_635_
_90_
_6_
_9_
_6_
_36_
_1_
_-_
_-_
_-_
_-_
_-_
_783_
_7,316_|_Income_
_£000_
_-_
_3_
_-_
_137_
_-_
_-_
_96_
_5_
_27_
_8_
_32_
_17_
_325_
_2,503_|_Expenditure_
_£000_
_(17)_
_-_
_(6)_
_(146)_
_(2)_
_-_
_(41)_
_(5)_
_(23)_
_(18)_
_(32)_
_(17)_
_(307)_
_(2,812)_|_Transfers_
_in/out_
_£000_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_69_
_-_
_-_
_69_
_-_|_Gains/_
_(Losses)_
_£000_
_-_
_(13)_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(13)_
_(499)_|_Balance at_
_31 March_
_2023_
_£000_
_618_
_80_
_-_
_-_
_4_
_36_
_56_
_-_
_4_
_59_
_-_
_-_
_857_|
|---|---|---|---|---|---|---|
|||||||_6,508_|
Page 55
**BEACON CENTRE FOR THE BLIND (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds (continued)**
## **Designated Funds**
The Capital Reserve Fund represents the net book value of the group’s tangible fixed assets, principally land and buildings, currently held for use in the furtherance of the organisation’s objectives and the funds are therefore unavailable for other use.
The Technology Fund has been agreed to bring in technology in line with strategic objectives, including providing technology for the benefit of the visually impaired.
The Gym Refurbishment Fund is established to cover updated facilities in the gym, which is primarily used for rehabilitation.
The Property Renewal fund is established to cover the cost of repairing and improving the charity’s buildings.
The COVID Resilience Fund was established to meet additional costs, including infection control, arising from the COVID-19 pandemic.
The Vehicle renewal fund was established to cover any costs to upgrade, replace or adapt our minibus fleet.
## **Restricted Funds**
The Capital Project is a fund was established to upgrade the site infrastructure and user facilities at the Beacon Centre. Income received was from donations and grants, and the expenditure to date comprises depreciation of the new facilities.
The Willets Trust is a permanent endowment fund that was established in 1965 from a legacy. The primary objective is to use the annual income for the benefit of blind persons resident in Old Hall and Rowley Regis, or other areas if the income is not needed in these areas.
Stourbridge Garden & Services Fund is to be used to improve and enhance the garden area and facilities to enable a more effective delivery of the service.
Building Better Opportunities provides support for unemployed visually impaired people living in Wolverhampton which also commenced October 2016. These activities have ongoing funding beyond 2020-21.
Beacon Butler is a golf competition providing coaching and competing opportunities to players with visual impairment and other disabilities.
Youth Recreation and Development Equipment Fund was created by a legacy, and is to provide recreational development for visually impaired young people.
Healthy Communities Together....
The Eveson Trust Fund is a grant from the Eveson Trust to provide staff in our Lifestyle team.
The Health and Wellbeing Fund covers various funders for our lifestyle activities to improve the wellbeing and fitness of visually impaired people.
The Workshops for Visually Impaired Fund is to provide work and craft activities for visually impaired
Page 56
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **23. Statement of funds (continued)**
people.
Community Transport was a grant from Community Transport Association’s “Tackling Isolation Through Community Transport Fund”.
Employment Projects is a fund covering employment work tailored to the needs of visually impaired people and funded directly to Beacon.
## **24. Summary of funds**
## **Summary of funds - current year**
|Designated
funds
General funds
Restricted funds|**Balance at 1**
**April 2023**
**£000**
**3,578**
**2,073**
**857**
**6,508**|**Income**
**£000**
**-**
**2,404**
**180**
**2,584**
_Income_
_£000_
_-_
_2,178_
_325_
_2,503_|**Expenditure**
**£000**
**(157)**
**(2,631)**
**(87)**
**(2,875)**
_Expenditure_
_£000_
_(153)_
_(2,352)_
_(307)_
_(2,812)_|**Transfers**
**in/out**
**£000**
**26**
**(12)**
**(14)**
**-**
_Transfers_
_in/out_
_£000_
_109_
_(178)_
_69_
_-_|**Gains/**
**(Losses)**
**£000**
**-**
**107**
**3**
**110**
_Gains/_
_(Losses)_
_£000_
_-_
_(486)_
_(13)_
_(499)_|**Balance at**
**31 March**
**2024**
**£000**
**3,447**
**1,941**
**939**
**6,327**|
|---|---|---|---|---|---|---|
|||||||_Balance at_
_31 March_
_2023_
_£000_
_3,578_
_2,073_
_857_
_6,508_|
|**Summary of funds - prior year**|||||||
|Designated
funds
General funds
Restricted funds|_Balance at_
_1 April 2022_
_£000_
_3,622_
_2,911_
_783_
_7,316_||||||
Page 57
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **25. Analysis of net assets between funds**
|**Unrestricted**
**funds**
**2024**
**£000**
**Analysis of net assets between funds - current period**
Tangible fixed assets
2,778
Intangible fixed assets
-
Fixed asset investments
2,789
Social investments
5
Debtors due after more than one year
158
Current assets
572
Creditors due within one year
(484)
Creditors due in more than one year
(430)
**Total 2024**
5,388
_Unrestricted_
_funds_
_2023_
_£000_
**Analysis of net assets between funds - prior period**
Tangible fixed assets
_2,766_
Intangible fixed assets
_1_
Fixed asset investments
_2,945_
Social investments
_5_
Debtors due after more than one year
_166_
Current assets
_538_
Creditors due within one year
_(336)_
Creditors due within one year
_(434)_
_Total 2023_
_5,651_|**Restricted**
**funds**
**2024**
**£000**
601
-
71
-
-
267
-
-
939
_Restricted_
_funds_
_2023_
_£000_
_618_
_-_
_80_
_-_
_-_
_159_
_-_
_-_
_857_|**Total**
**funds**
**2024**
**£000**
**3,379**
**-**
**2,860**
**5**
**158**
**839**
**(484)**
**(430)**
**6,327**
_Total_
_funds_
_2023_
_£000_
_3,384_
_1_
_3,025_
_5_
_166_
_697_
_(336)_
_(434)_
_6,508_|
|---|---|---|
Page 58
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **26. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net expenditure for the period (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Amortisation charges
(Gain)/loss on investments
Dividends, interests and rents from investments
Decrease in stocks
Decrease in debtors
Increase/(decrease) in creditors
**Net cash used in operating activities**
**27.**
**Analysis of cash and cash equivalents**
Cash in hand
**28.**
**Analysis of changes in net debt**
**At 1 April**
**2023**
**£000**
Cash at bank and in hand
**302**|**Group**
**2024**
**£000**
**(181)**
**121**
**1**
**(110)**
**(91)**
**1**
**101**
**144**
**(14)**
**Group**
**2024**
**£000**
**538**
**Cash flows**
**£000**
**236**|_Group_
_2023_
_£000_
_(808)_
_126_
_8_
_499_
_(101)_
_4_
_202_
_(207)_
_(277)_
_Group_
_2023_
_£000_
_302_
**At 31 March**
**2024**
**£000**
**538**|
|---|---|---|
Page 59
## **BEACON CENTRE FOR THE BLIND**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **29. Pension commitments**
The Group operates a defined contribution pension scheme operated by Standard Life. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £107k _(2023 - £102k)_ . Contributions totalling £11,935 _(2023 - £Nil)_ were payable to the fund at the balance sheet date.
## **30. Operating lease commitments**
At 31 March 2024 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2024**
**£000**
**58**
**90**
**148**|_Group_
_2023_
_£000_
_47_
_54_
_101_|**Charity**
**2024**
**£000**
**58**
**90**
**148**|_Charity_
_2023_
_£000_
_47_
_54_|
|---|---|---|---|---|
|||||_101_|
The following lease payments have been recognised as an expense in the Statement of financial activities:
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2024**|_2023_|**2024**|_2023_|
||**£000**|_£000_|**£000**|_£000_|
|Operating lease rentals|**55**|_36_|**55**|_36_|
## **31. Related party transactions**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024 other than those noted in note 12 and note 15.
Page 60