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2022-03-31-accounts

Charity registration number 219818

EASTBOURNE BLIND SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

EASTBOURNE BLIND SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A T Ley
Mr N R Goodyear
Miss S A Barrett
Mrs C M Szanto
Mr P D Parker
Mrs B Burgess
Charity number 219818
Principal address 124/142 Longstone Road
Eastbourne
East Sussex
BN22 8DA
Independent examiner Alastair Towler BFP ACA DChA
18 Hyde Gardens
Eastbourne
East Sussex
BN21 4PT
Bankers Natwest Eastbourne Town Centre
96 Terminus Road
Eastbourne
East Sussex
BN21 3AA

EASTBOURNE BLIND SOCIETY

CONTENTS

Page
Management Committee report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Statement of cash flows 7
Notes to the financial statements 8 - 19

EASTBOURNE BLIND SOCIETY

MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees presents its report and accounts for the year ended 31 March 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

The charity was founded by a trust deed in 1923 and became a registered Charity in 1963, Charity registration number 219818. The constitution does not contain any investment powers or any restrictions.

The objectives of the society are the support of blind and partially sighted persons in Eastbourne and the surrounding neighbourhood.

In planning the activities for the year the committee have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commission.

Achievements and performance

This year saw more in the way of a return to ‘normal’ life with a staggered return to socials, particularly towards the end of this period, observing social distancing and welfare visits being made using outside space where possible. The use of Personal Protective Equipment became normal and telephone and phone visits remained in place for those who felt more comfortable with these. The information technology installed to enable staff to work from home has remained and has continued to prove useful, particularly during periods of isolation for staff who contracted Covid. Members have commented that it is great to be back among people again and that the society has been a ‘lifeline’ to them in difficult times.

Inevitably we have sadly lost some members during the pandemic and there are plans to remember these much missed and valued members of our community when it is possible to do so properly.

Once again, our staff have been amazing and have coped brilliantly with the necessary and often enforced changes to their working practices, often going above and beyond their normal duties to make Eastbourne Blind Society what it is. We have continued to fulfil our commitments under the contract with East Sussex County Council. We have also continued to provide support and equipment to visually impaired people, helping them to gain, maintain or regain independence for as long as possible.

As changes to government rules and guidance allowed we reinstated all our activities and we plan to be bowling again – outdoors at least – in the summer.

The Society has also continued to be involved in campaigning on local issues on behalf of and with our members. We remain active members of the Eastbourne Disability Involvement Group and Eastbourne Access Group through whom we have been substantially involved in consultation on the redesign and redevelopment of Eastbourne Town Centre. We have also been involved in events to promote inclusion of disabled people in terms of their retail and shopping experiences. Safe walking and cycling are also areas we are continuing to raise awareness as is the current increasing use of e-scooters. We have also hosted a consultation event around changes to Ophthalmology services in the local health trust.

Financial review

The results for the financial year ended 31 March 2022 are shown in the attached financial statements and the management committee regards the financial position at that date as satisfactory. They show a deficit of £32,860 compared to a surplus of £236,762 in 2021.

EASTBOURNE BLIND SOCIETY

MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

It is the policy of the charity that reserves be maintained at a level which enables the charity to generate sufficient interest/dividend income to cover 30/50% of annual expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. In recent years the Society has benefited from a number of legacies and these, and the income therefrom, form a major part of the total reserves of £2,779,143 at the year end date.

It is the policy of the charity to maintain income whilst preserving the real value of investments.

The charity's investments have continued to be managed in accordance with the policy and their performance for the year has resulted in an increase in value by £36,287 which is shown in the Statement of Financial Activities.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

We continue to adapt to the new normal and a major focus for the coming year will be to encourage those who have been isolating and staying at home through concerns about their own health to reengage with both our activities and other groups that they were previously involved in. Where this is safe and appropriate we will be looking to actively support this.

We anticipate that the pandemic will have 1 of 2 effects on our members. Either they will be desperate to come and join in our socials and so new people may start to attend or members will be reluctant to do so and therefore numbers will be lower that pre-pandemic levels. We will certainly be doing our best to encourage members to come along to the events and activities we put on and will be working hard to ensure measures are in place to help them feel confident, comfortable and safe to do so.

We will continue to be a representative of visually impaired people on various disability groups and aim to give a voice to our members when public consultations are running.

In order to do what we do we are forever indebted to and are grateful for all our volunteers, staff, friends and supporters. Without these often selfless and always compassionate group of people Eastbourne Blind Society would not be heading towards its 100th birthday as an organisation and we are very thankful for their past contributions to the charity and look forward to their continued involvement in the year(s) to come.

Structure, governance and management

The management committee as detailed is responsible for the running of the Society in accordance with the constitution. The committee is required to meet at least four times a year.

In addition to members of the management committee, the Society has a number of volunteers who assist on various matters, including welfare issues.

The following non trustee members who formed part of the management committee during the year were:

Chief Executive Mr M Simmons Welfare Officers Mrs E Hayward Mrs B Burgess Mr G Rowsell Co-Opted Mrs A Round

EASTBOURNE BLIND SOCIETY

MANAGEMENT COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The Trustees who also served as management committee members during the year were: Mr A T Ley Mr N R Goodyear Mr A D Guthrie (Resigned 9 August 2021) Mr C Wooller (Resigned 7 February 2022) Miss S A Barrett Mrs C M Szanto Mr P D Parker Mrs B Burgess

There are procedures for re-election of members of the management committee. New members are invited by agreement of the existing members.

On behalf of the management committee

Mr A T Ley Chairman

15 March 2023

EASTBOURNE BLIND SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EASTBOURNE BLIND SOCIETY

I report to the Trustees on my examination of the financial statements of Eastbourne Blind Society (the charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Alastair Towler BFP ACA DChA

18 Hyde Gardens Eastbourne East Sussex BN21 4PT

Dated: 15 March 2023

EASTBOURNE BLIND SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
16,212
-
Charitable activities
4
50,787
27,307
Fundraising activities
5
4,004
-
Investment income
6
60,884
-
Other income
7
-
-
Total income
131,887
27,307
Expenditure on:
Raising funds
8
-
-
Charitable activities
9
206,047
22,294
Total expenditure
206,047
22,294
Net gains/(losses) on
investments
13
36,287
-
Net movement in funds
(37,873)
5,013
Fund balances at 1 April 2021
2,811,659
344
Fund balances at 31 March
2022
2,773,786
5,357		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
16,212
140,704
-
78,094
28,271
21,501
4,004
834
-
60,884
59,941
-
-
3,941
-
159,194
233,691
21,501
-
302
-
228,341
188,119
21,157
228,341
188,421
21,157
36,287
191,148
-
(32,860)
236,418
344
2,812,003
2,575,241
-
2,779,143
2,811,659
344		 Total
2021
£
140,704
49,772
834
59,941
3,941
255,192
302
209,276
209,578
191,148
236,762
2,575,241
2,812,003

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

EASTBOURNE BLIND SOCIETY

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

Notes
Fixed assets
Property, plant and equipment
14
Investments
15
Current assets
Inventories
17
Trade and other receivables
18
Cash at bank and in hand
Current liabilities
19
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
21
Unrestricted funds		 2022
£
£
18,417
1,813,878
1,832,295
6,995
11,007
934,050
952,052
(5,204)
946,848
2,779,143
5,357
2,773,786
2,779,143		 2021
£
£
23,022
1,777,591
1,800,613
4,136
27,066
985,666
1,016,868
(5,478)
1,011,390
2,812,003
344
2,811,659
2,812,003		 2021
£
£
23,022
1,777,591
1,800,613
4,136
27,066
985,666
1,016,868
(5,478)
1,011,390
2,812,003
344
2,811,659
2,812,003
1,800,613
1,011,390
2,812,003
344
2,811,659
2,812,003

The financial statements were approved by the Trustees on 15 March 2023

Mr A T Ley Trustee

EASTBOURNE BLIND SOCIETY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
25
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
£
(112,500)
60,884
60,884
-
(51,616)
985,666
934,050		 2021
£
59,941		 £
(32,809)
59,941
-
27,132
958,534
985,666

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Eastbourne Blind Society is an unincorporated charity governed by its Trust deed.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of investments. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of its charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is recognised in the period in which the costs are incurred. It includes attributable VAT which cannot be recovered.

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Costs are allocated between charitable and support activities, based on the time spent by staff members and the roles undertaken.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold costs 10% straight line basis Fixtures, fittings and equipment 20% reducing balance basis Motor vehicles 20% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Assets below the value of £150 are not capitalised.

1.7 Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 12,275 10,439
Legacies receivable 3,937 130,265
16,212 140,704

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Social Social
centre and centre and
activities activities
2022 2021
£ £
Sale of goods 24,015 13,801
Grants towards service provision 44,721 35,850
Minibus hire 4,503 121
Other income 4,855 -
78,094 49,772
Analysis by fund
Unrestricted funds 50,787 28,271
Restricted funds 27,307 21,501
78,094 49,772
Performance related grants
Low Vision Support Service (LVSS) 27,307 21,500
LVSS - contribution to overheads 3,930 7,038
ESVC Contract Management & Overheads Funding 8,678 3,239
ESVC Contract VA Equipment Service Funding 4,806 4,073
Other - -
44,721 35,850

5 Fundraising activities

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising events 4,004 834

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

6 Investment income

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Income from listed investments 60,193 57,567
Interest receivable 691 2,374
60,884 59,941
Other income
Total Unrestricted
funds
2022 2021
£ £
Sundry income - 3,941

7 Other income

Other income represents furlough payments received under the Coronavirus Job Retention Scheme.

8 Raising funds

Fundraising and publicity
Staging fundraising events		 Total
Unrestricted
funds
2022
2021
£
£
-
302
-
302		 Total
Unrestricted
funds
2022
2021
£
£
-
302
-
302
302

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

9 Charitable activities

Social Social
centre and centre and
activities activities
2022 2021
£ £
Staff costs 81,153 78,793
Depreciation and impairment 3,587 4,490
Social expenses 6,151 134
Cost of goods sold 17,406 14,761
Motor and travel 7,987 1,701
Sundry expenses 2,825 2,374
119,109 102,253
Share of support costs (see note 10) 104,905 102,590
Share of governance costs (see note 10) 4,327 4,433
228,341 209,276
Analysis by fund
Unrestricted funds 206,047 188,119
Restricted funds 22,294 21,157
228,341 209,276

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Support costs


Staff costs
Depreciation
Rent, rates and water
Insurance
Light and heat
Repairs and
maintenance
Telephone
Printing, postage and
stationery
Bank and credit card
charges
Cleaning
Sundry items
Legal and professional
Accountancy
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
78,180
-
1,018
-
2,130
-
2,242
-
5,580
-
2,551
-
3,764
-
3,686
-
127
-
2,675
-
2,952
-
-
1,557
-
2,770
104,905
4,327
104,905
4,327		 2022

£
78,180
1,018
2,130
2,242
5,580
2,551
3,764
3,686
127
2,675
2,952
1,557
2,770
109,232
109,232		 Support
costs
Governance
costs
£
£
76,029
-
1,529
-
73
-
2,175
-
4,971
-
4,740
-
3,809
-
4,046
-
-
-
3,023
-
2,195
-
-
1,229
-
3,204
102,590
4,433
102,590
4,433		 2021
£
76,029
1,529
73
2,175
4,971
4,740
3,809
4,046
-
3,023
2,195
1,229
3,204
107,023
107,023

Governance costs includes payments to the independent examiners of £2,770 (2021 - £3,024) for independent examination fees and £Nil for other services (2021 :£Nil).

11 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees indemnity insurance was purchased as part of the main insurance policy during the year.

12 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
9 9

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
150,029
145,766
6,060
5,759
3,244
3,297
159,333
154,822		 (Continued)
2022
2021
£
£
150,029
145,766
6,060
5,759
3,244
3,297
159,333
154,822
154,822

12 Employees

There were no employees who were paid more than £60,000 in the year.

There were no employees whose annual remuneration was more than £60,000.

13 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Revaluation of investments 36,287 191,148

14 Property, plant and equipment

Leasehold
costs
Fixtures,
fittings and
equipment
Motor vehicles
£
£
£
Cost
At 1 April 2021
114,758
76,236
68,440
At 31 March 2022
114,758
76,236
68,440
Depreciation and impairment
At 1 April 2021
114,758
71,149
50,505
Depreciation charged in the year
-
1,018
3,587
At 31 March 2022
114,758
72,167
54,092
Carrying amount
At 31 March 2022
-
4,069
14,348
At 31 March 2021
-
5,087
17,935		 Total
£
259,434
259,434
236,412
4,605
241,017
18,417
23,022

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15 Fixed asset investments

Cost or valuation
At 1 April 2021
Valuation changes
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
16
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
17
Inventories
Finished goods and goods for resale
18
Trade and other receivables
Amounts falling due within one year:
Trade receivables
Other receivables
Prepayments and accrued income
19
Current liabilities
Other payables
Accruals and deferred income		 Listed
investments
£
1,777,591
36,287
1,813,878
1,813,878
1,777,591
2022
2021
£
£
1,813,878
1,777,591
2022
2021
£
£
6,995
4,136
2022
2021
£
£
5,280
1,712
1,144
1,119
4,583
24,235
11,007
27,066
2022
2021
£
£
464
1,076
4,740
4,402
5,204
5,478

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

20 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £3,244 (2021- £3,297)

21 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds
Incoming Resources Balance at Incoming Resources Balance at
resources expended
1		 April 2021 resources expended 31 March
£ £ £ £ £ 2022
£
Low Vision Support Service
fund 21,501 (21,157) 344 27,307 (22,294) 5,357

The Low Vision Support Service Restricted fund is used to cover the cost of the Low Vision Support Worker who deals with the referrals for support that are received.

22 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Property, plant and
equipment
18,417
-
Investments
1,813,878
-
Current assets/(liabilities)
941,491
5,357
2,773,786
5,357		 Total
Unrestricted
funds
2022
2021
£
£
18,417
23,022
1,813,878
1,777,591
946,848
1,011,046
2,779,143
2,811,659		 Restricted
funds
2021
£
-
-
344
344		 Total
2021
£
23,022
1,777,591
1,011,390
2,812,003

EASTBOURNE BLIND SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

23 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2022
£
440
1,320
1,760		 2021
£
449
1,760
2,209

24 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2022 2021
£ £
Aggregate compensation 37,055 35,346

East Sussex Vision Care (ESVC) is the charity which coordinates services in East Sussex and comprises of Eastbourne Blind Society, East Sussex Association for Blind and Partially Sighted People and Hastings and Rother Voluntary Association for the Blind. Each of these organisations appoints trustees to ESVC and therefore some of the trustees of Eastbourne Blind Society are also trustees of ESVC. ESVC's purpose is to distribute grants from Local Authorities to the member societies to enable them to carry out the services. As such, the mutual trustees of Eastbourne Blind Society do not have control of ESVC and therefore disclosure of detailed related party transactions isn't required.

25 Cash generated from operations 2022 2021
£ £
(Deficit)/surpus for the year (32,860) 236,762
Adjustments for:
Investment income recognised in statement of financial activities (60,884) (59,941)
Fair value gains and losses on investments (36,287) (191,148)
Amortisation and impairment of intangible assets 1,018 1,529
Depreciation and impairment of property, plant and equipment 3,587 4,490
Movements in working capital:
(Increase)/decrease in inventories (2,859) 140
Decrease/(increase) in trade and other receivables 16,059 (17,238)
(Decrease) in trade and other payables (274) (7,403)
Cash absorbed by operations (112,500) (32,809)
26 Analysis of changes in net funds

The charity had no debt during the year.