Charity registration number: 220636 Wigan Leigh and District Society for the Blind Annual Report and Financial Statements for the Year Ended 31 March 2024 McGinty Demack Chartered Certified Accountants Vermont House Bradley Lane Standish WN6 OXF
Wlg•n L•lgh and Dl¥trlct 8oci•ty for th• Bllnd Cont•nt• Reference and Administrative Details Trustees, Report Statement of Trustees, Responsibilities Accountants, Report 2to4 5t06 7t08 Independent Examiner's Report 9t010 Statement of Financial Activities 11 to12 Balan Sheet 13 Notes to the Financial Statements 14to27
Wlg•n L•lgh and Dl•trl¢i 8ocl•ty for th• 8llnd Rofer•nc• *nd Admlnl•traQlv• D•tall• Trustees K Boylan A Leyland J R Roberts K Stevenson J Sharratt A Fairhust 4 Scarisbrick Street Wigan WN12BS Charity Registration 220636 Number Principal Office Independent Examiner McGinty Demack Chartered Certified Accountants Vermont House Bradley Lane Standish WN6 OXF Page 1
Wlqan L•lgh l)l•trJct sl•ty for th• btlnd Tru•t•••' R•port The trustees present the annual r6port together with the financial statements of the charity for the year ended 31 March 2024. Objectlves and actlvities Public benefit Our charity helps blind people who live in the metropolitan borough of Wigan. We hold weekly social classes in the day. We hold day trips in the summer. We also offer advice on equipment and will order when requested daily living aids. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structure, governance and management Financial instruments Objectives and policies The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Page 2
Wlg•n L•lgh •nd Dl•trlcl 8oGl•ty for th• Bllnd Tru•t•••' 14•port Cash flow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and Interest rates. The charity uses foreign exchange forward contracts and Interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables, The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 3
Wl•an L•4gh •nd Dl•trlct 8ocl•ty for th• Bllnd Tnwt•••' R•port The annual report was approved by the twstees of th8 charity on 14 October 2024 and signed on its behalf by: A Fairhust Trustee Page 4
W•gan L••9h 4nd Dl•lrkl 8ocl•ty for lh• Bllnd St•t•m•nt ol Tru•tM•' R••pon•lbllltl•• The trustees are responsible for preparing the trustees. report and the financial statements In accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Page 5
Wlgan L•l9h •nd Dl•trict 8ocl•ty lor th• Blind St*t•m•nt of Tru•t•••' R••pon•lbltltl•• The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011. the applicable Charities (Accounts and Reports) Regulations. and the provisions of the constitution. The trustees 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. Approved by the trustees of the charity on 14 October 2024 and signed on its behalf by.. A Fairhust Trustee Page 6
Wlg•n L•lgh and Dl•trlct Socl•ty lor th• Bllnd St*t•m•nt ol Tru•t••s' R••pon••bllltl•• The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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. Approved by the trustees of the charity on 14 October 2024 and signed on its behalf by: A_Y A Fairhust Trustee Page 6
Ch•rt•r•d C•rtlll•d Account•nt•' R•port to th• Tru•t••• on th• Pr•p•rallon of lh• Unaudit•d Sl•lutory A¢c04Jnt• of Wlg•n L•lgh •rid 01gtrlGt Socl•ly for th• Bllnd Toi th• Y••r Endod J 1 March 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wigan Leigh and District Society for the Blind for the year ended 31 March 2024 as set out on pages 11 to 27 from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https.'Ilwww.accaglobal.comlgblenlmemberlstandardslrules-and-standard This report is made solely to the Board of Directors of Wigan Leigh and District Society for the Blind, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Wigan Leigh and District Society for the Blind and state those matters that we have agreed to state to the Board of Directors of Wigan Leigh and District Society for the Blind, as a body, in this report in accordan with the requirements of the Association of Chartered Certified Accountants as detailed at https'.IlwN.accaglobal.comlgblenlmemberlstandardslrules-and-standard octoberlfactsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wigan Leigh and District Society for the Blind and its Board of Directors as a body for our work or for this report. Page 7
Ch•rt•r•d C•rtlfl•d Account*nt•' R•port to th• Tru•t••• on th• Pr•p•r•tlon off th• Unaudlted Statutory Accounts of Wlg•n Lelgh •nd Dl•trlct Socffj•ty lor th• Bllnd lor th• Y•ar End•d 31 March 2024 It is your duty to ensure that Wigan Leigh and District Society for the Blind has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Wigan Leigh and District Society for the Blind. You consider that Wigan Leigh and District Society for the Blind is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Wigan Leigh and District Society for the Blind. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Chartered Certified Accountants 14 October 2024 Page 8
Sorl•ty lur t+b• B•lv7d report to the charity trustee8 on my examination of the 8ccounts of the charity for the year ended 31 March 2024 which are set out on pages 11 to 27. Respective responsibilities of trustees and examiner As the charity's trustees of Wigan Leigh and District Society for the Blind you are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Wigan Leigh and District Society for the Blind's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1.accounting records were not kept in respect of Wigan Leigh and District Society for the Blind as required by section 130 of the Act,. or 2. the accounts do not accord with those records; or 3.the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. Page 9
Wlg•n L•lqh and Dl•lrl¢t Socl•ty ltsr th• Bllnd Ind•p•nd•nt Ex•mln•¢• R•port to th• tru•t••• of Wlgan L•lgh and Dl•trlGt SoeJ•ty lor th• 8llnd I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Karen Richardson Chartered Certified Accountants Vemiont House Bradley Lane Standish WN6 OXF 14 October 2024 Page 10
Wlg•n L•lgh and Dlstrlct 8ocl•ty for th• Bllnd Statem•nt of Flnan¢lal Actlvlilm for th• Y•ar Endod 31 M•rch 2024 Unrestricted Total funds 2024 Incorne and Endowments from: Donations and legacies Investment income Total income Expenditure on: Raising funds Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note 7,005 7,005 45,189 45,189 52,194 52,194 33,902 18,292 18,292 709,144 709,144 Unrestricted Total funds 2023 Note Income and Endowments from: Donations and legacies Investment income Total income Expenditure on: Raising funds Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward 8,123 8,123 17,188 17,188 25,311 25,311 31,328 31,328 31,328 31,328 (6,017) (6,017) 736,852 736,852 Page 11
Wlgan L•lgh Dl8trlct 8ocl•ty lor th• Bllnd 8t•tgm•nt of Flnan¢lal Actlvttl•8 for th• Y•ar Endod 31 March 2024 Unrestricted Total funds 2023 Total funds carried forward All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 10. Note Page 12
Wlg4n L•lgh and Dl•trkt Socl•ty lor th• Bllnd (R•94•tIOn numb•r: 2208361 Balan¢• Sh•gt as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Investments 172 154 7 475,254 455,203 475 408 455,375 2,791 128 251,780 254,937 254,571 255,065 Current assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Net assets Funds ofthe charity: Unrestricted income funds Unrestricted funds 727,436 730,835 Total fund5 10 727,436 730,835 The financial statements on pages 11 to 27 were approved by the trustees, and authorised for issue on 14 October 2024 and signed on their behalf by: 252,028 253,768 A Fairhust Trustee Page 13
gan L•lgh and Dl•trkt 8ocl•ty fof th• Bllnd Notm lo th• Flnancill Stst•m•nts for th• Y••r End•d 31 M*rch 2024 1 Accounting policies Statement of compllance The financial statements have been prepared in accordanGe with Accounting and Reporting by Charities Statement of their accounts in accordan with the Financial Reporting applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the Republic of Ireland {FRS 102) and the Charities Act 2011. Basis of preparation Wigan Leigh and District Society for the Blind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaGtion value unless otherwise stated in the relevant accounting policy notes. Exemption from preparlng a cash flow ststement The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Golng concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Page 14
Wlgan L•lgh and Dl•trkt 80¢l•ty lor th• Bllnd Not•• lo th• Flnan¢lal Stat•m•nt• lor th• Y••r End•d 31 M•rch 2024 Income and endowments Voluntary income including donations. gifts, legacies and grants that provide core funding or are of a general nature IS recognised when the charity has entitlement to the income, It is probable that the income will be received and the amount Gan be measured with sufficient reliability. Investment Income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Wlhere costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raislng funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Page 15
Imgan L•lgh and D18tr1ct 8ocl•ty for th• Bllnd NotoA to the Flnanclal Statom•nts for th• Y•ar End•d 31 March 2024 Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of reSoUrs, for example, allocating property Costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received Wlthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Page 16
Wlqan L•lgh •nd Dlstrlct iof th• Bllnd Not•• lo th• Flnancl•l Stat•m•nt• ttK• Y•4r End•d 31 M•ffjh 2024 Fixed asset Investments Fixed asset investments, other than programme related investments. are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of Financial ACtiVltieS in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Trade debtors Trade debtors are amounts due from Customers for merchandise sold or services performed in the ordinary Gourse of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Page 17
Wl9an L•lgh and Dl4trlct 8ocl•ty tor th• Bllnd Not•s to th• FInancl St4t•m•nts lof th• Yur End•d 31 March 2024 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and Gall deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effedive interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. Page 18
Wlgan Lelgh and Dlstrlcl Socl•ty for the Bllnd Notes to the Flnanclal Stat•monts for the Y•ar End•d 31 March 2024 Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 19
Wlgan L•lqh and Dl8trlcl Soclfjty for th• Blind Not•s to th• Fln•nclal 3tat•mont• for th• Y•ar End•d 31 Mah 2024 Recognition and measurement All financial assets and liabilities are initially measured at transaction pri (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction pri excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 20
Wlgan L•lgh and Dl4trlct 8ocl•ty for th• Bllnd Not•s to th• Fln•nclal Stat•m•nt• for th• Y•ar End•d 31 March 2024 Investments The charity has investment funds. Fair value measurement The best evidence of fair value is a quoted pri for an identical asset in an active market. When quoted prices are unavailable, the price of a rent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time sino the transaction took place. If the market is not active and reont transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 2 Income from donations and legacles Unrestricted funds Total General 2024 Total 2023 Regular giving and capital donations 7,005 7,005 7,005 7,005 Page 21
Wlg*n L•lgh and Dl•trlct Socl•ty for th• 8llnd Not•s to th• Flnanclal 8tat•m•nt8 lor th• Y••r End•d 31 M•rch 2024 3 Investment income Unrestricted funds Total General 2024 Interest receivable and similar income; Interest receivable on bank deposits Other investment income Total 2023 9,903 9,903 35,286 35,286 45,189 45,189 4 Trustees remuneration and expenses During the year the charity rnade the following transactions With trustees: A Fairhust A Fairhust reoived remuneration of £22,166 (2023: £19,000) during the year. 358 Page 22
Wlgan L•lgh and Dl•trlct Socl•ty fDr th9 811nd NotH to th• Fln•ncl•l Stat•mont4 for tha Y•ar Ended 31 March 2024 5 Taxatlon The charity is a registered charity and is therefore exempt from taxation. 6 Tangible fixed assets Furniture and equipment Total Cost At 1 April 2023 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 7 Fixed asset investments 2,698 2,698 2,698 2,698 2,526 2,526 18 18 154 172 172 2024 2023 Other investments 475.254 455,203 Page 23
g•n L•lgh •nd Dl•trkl 8o¢hty tsr th• Bund Not•• to th• Flnanclal St•t•m•nts tor th• Y•ar End•d 31 March 2024 Other Investm•nts Unlisted Inv03tmentsTotal Cost or Valuatlon At 1 April 2023 Revaluation At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 8 Debtors 455,203455,203 20,051 20,051 475,254475,254 475,254475,254 455,203455,203 2024 2023 Accrued income Other debtors 2,640 151 128 128 2,791 9 Creditors: amounts falling due within one year 2024 2023 Bank overdrafts Other taxation and social security Other creditors 72 1,845 626 72 705 520 2,543 1,297 Page 24
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Wlgan L•lgh and Dl•trlct SO¢ for th• Bllnd Noto8 to th• Flnanclal 8tatgm•nt• for th• Ymr EThd 31 March 2024 Unrestricted funds 2023 Total General funds 154 154 475,254 475,254 254,571 254,571 2,543 727,436 727,436 Unrestricted funds 2022 Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Total General funds 172 172 455,203 455,203 255,065 255,065 1,297 1,297 709,143 709,143 Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Page 26
Wlgan L•lgh and Dl8trlct S0¢l•ty for tho Bllnd Not•• to th• Fln4nclal Stat•m•nt• fvr th• Y••r End•d 31 March 2024 131nalysis of net fund8 At1 April 2023 At31 March 2024 Cash flow Cash at bank and in hand Net debt 254.937 (3,157) 251,780 254,937 (3,157) 251,780 At1 April Cash March 2022 flow 2023 Cash at bank and in hand Net debt 260,933 (5,996) 254,937 260,933 (5,996) 254,937 Page 27
Wlgan Lelgh and Dlstrlct 8o¢lety lor th• Bllnd statement of Flnanclal Actlvltles by fund for the Y••r End•d 31 Mar¢h 2024 Total Unrestricwdrestricted funds funds 2024 2023 Income and Endowments from: Donations and legacies Investment income Total income Expenditure on: Raising funds Total expenditure Net incomel(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 7,005 8,123 45,189 17,188 52,194 25,311 33,902 33,902 18,292 18,292 (6,017) 709,144 736,852 727,436 730,835 Page 28
Wlgan L•lgh and Dtstrlct 8ocl•ty for the Bllnd Detalled Statomont of Flnancl41 Actlvitl•8 for th• Yoar Endod 31 March 2024 Total 2023 Totsl 2024 Income and Endowments from: Donations and legacies {analysed below) Investment income (analysed below) Total income Expenditure on: Raising funds (analysed below) Total expenditure Net incomel(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 8,123 7,005 45,189 a 33,902 33,902 18,292 27,709) 18,292 (27,709) 709,144 736,852 727,436 709,143 Page 29
Wlgan Lelgh and Dlstrlct 8ocl•ty lor the Bllnd Detalled Statgm•nt ot Flnanclal Actlvllla• for the Yoar Endod 31 March 2024 Total Total 2024 2023 Donations and legacies Committed giving Investment income Interest on cash deposits Income from other investments Other Reduction in Net Investments 9,903 359 35,286 16,829 (1) Raising funds Fundraising costs Wages and salaries Rent and rates Sundry expenses Bank charges Wages and salaries Insurance Telephone and fax Printing, postage and stationery Accountancy fees Depreciation of plant and machinery (1,630) (1,918) (1,200) (1,200) (3,900) (3,900) (2,750) (3,800) (74) (79) (22,593) (19,000) (96) (96) (905) (740) (58) (58) (679) (518) 17 19 33,902 31,328 Page 30