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2023-03-31-accounts

Registered number: 00299291 Charity number: 223668

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1 - 2
Trustees' report 3 - 7
Independent auditors' report on the financial statements 8 - 12
Statement of financial activities 13
Balance sheet 14 - 15
Statement of cash flows 16
Notes to the financial statements 17 - 37

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees E Adams
A Gray
H Haeney
E Harrod
J Houston
D Longman
A Massam
M O'Grady
M Revell
D Rosenberg, Chairman
R Russell
C Winter
Company Registered
Number
00299291
Charity Registered
Number
223668
Registered Office
466 Beverley Road
Hull
HU5 1NF
President
President - Mr James Dick OBE, HM Lord-Lieutenant of the East Riding of
Yorkshire
Vice President - Valerie Wood
Key Management
Personnel
Chief Executive - Sandra Ackroyd
Operations Manager - Alison Stannard
Income Generation & Marketing Manager - Angela Gregory
Independent Auditors
Streets Audit LLP
Chartered Accountants and Statutory Auditor
Halifax House
30 George Street
Hull
East Yorkshire
HU1 3AJ
Bankers
HSBC Bank plc
3-4 Jameson Street
Hull
HU1 3JX

Page 1

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Solicitors Gosschalks Queens Gardens Dock Street Hull HU1 3DZ Investment Advisors Investec Wealth & Investment Limited 30 Gresham Street London EC2V &QN

Page 2

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Board of Trustees present their report and accounts for Sight Support Hull and East Yorkshire (“the Charity”) for the year ended 31 March 2023. The financial statements have been prepared in accordance with the Companies Act 2006, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

A. OBJECTIVES AND AIMS

Our mission is to improve and enrich the quality of life for local people at all stages of sight loss, through the provision of a wide range of support services, enabling them to reach their full potential and lead independent lives.

The Charity believes no one in Hull & East Yorkshire should have to face sight loss alone and every visually impaired person can enjoy the same opportunities and quality of life as those who are fully sighted.

The Trustees confirm that they have referred to Charity Commission’s guidance on public benefit when reviewing the Charity’s objectives and activities, and are satisfied that they benefit a sufficient section of the public.

B. ACHIEVEMENTS AND PERFORMANCE

The year from April 2022 to end March 2023 was a year of continued recovery for the Charity and gradually returning to normality after the COVID pandemic

In April 2022 we had 2279 individual service users registered with Sight Support Hull and East Yorkshire services including people registered as sight impaired or severely sight impaired as well as people with other eye conditions; by March 23 this had increased to 2444.

Home Visits and Day Groups

It was wonderful to see more people regaining confidence to come out and mix with others during this period and in total 3249 visits were made to our day groups.

1235 face to face visits were conducted throughout the year by our Community Advice Officers with a further 1582 telephone visits / welfare calls including support with 96 benefit applications. These applications resulted in £413,159 of additional benefit payments being received by visually impaired people to improve their quality of life.

331 referrals were also made to other sources of assistance such as the sensory team, talking books and vision 26 assessments.

As ever, telephone befriending was a particularly important service, and 3125 calls were made by 22 befrienders supporting 110 befriendees during this period with a huge 2349 volunteer telephone befrienders hours being donated by our very special volunteers who provide this service.

Resources Centre

A total of 252 visitors have attended our Resource Centre during this period and have had the opportunity to try out and purchase specialist equipment to assist people with visual impairments.

In addition, 3 focus days were held from 3 different suppliers which a total of 35 people attended. These days allowed the ability to talk to the Suppliers in detail and find out about new equipment on the market.

Page 3

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Clubs and Groups

Our wide variety of clubs and groups under the ‘SocialEyes’ Project continued with great interest from many. These activities range from supported walking and running to singing and art groups as well as a variety of trips out to various places of interest, which people welcomed.

Technology

During the period April 2022- March 2023 102 people with visual impairments were supported with a variety of technology interventions, including the following:

Partnerships

We continue to work in partnerships with other local charities such as Artlink and FitMums and Friends to deliver a range of our adapted services.

Children & Family Services

We also developed a new partnership during this period with Hull University and developed a research project to support Children and Families of young people with visual impairments with funding from the Science Foundation to enable this.

Supported Accommodation

Sight Support Hull & East Yorkshire continues to support visually impaired tenants of all ages, who wish to live independently with low level support in 23 flats under the managing agent agreement arrangement with Places for People.

C. FINANCIAL REVIEW

Our income for the year has decreased overall by 16% from £537,185 to £452,351. This can almost entirely be attributed to a fall in legacy income to £43,709 from £128,424 in the prior year which fluctuate dependant on them being kindly received.

All other income streams are relatively consistent with the prior year, but our income continues to be affected by the coronavirus pandemic and the economic issues.

We have been able to increase some of our charitable activities resulting in an increase in income, however, although there is a small increase in fundraising income, this is still almost 50% lower than the fundraising income prior to the pandemic. It is anticipated that the charity will continue to increase the regular services and fund raising activites and the income should improve in the next financial year.

Beech Holme Court income decreased by 3% from £171,887 to £166,418, and the expenditure increased by 3% from £167,670 to £173,884. There was a net deficit on this service of £7,466 (2022 - £4,217(surplus)).

Expenditure in the year increased slightly compared to the previous year.

Page 4

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

During the year the markets have continued to be affected by the conflict, inflation, labour shortages and the cyclical uncertainty and the portfolio has decreased in value by £193,986, however, the investment income increased in the year by £3,090, from £61,177 to £64,267. This decrease in the portfolio value has increased the deficit in the year of £234,501 (2022 - £129,185) to a deficit of £428,487 (2022 - £15,649).

Although this has been another very difficult year, the Charity remains financially sustainable due to good financial management and sufficient reserves, which will be used as necessary during this period to cater for the loss of income.

Reserves Policy and Financial Commitment

The Charity is committed to providing long term sustainable services and is heavily reliant upon its investment income to enable it to deliver these services. The Trustees therefore consider it necessary to continue to hold a high level of reserves to maintain the current level of investment income. This decision is made in a climate of continued volatility in the investment markets with the resultant uncertainty about future returns. The reserves are intended to ensure continuity of operations, which is essential for an operational Charitable Company providing valuable services to the community. The Trustees regularly review the value of reserves and are satisfied that this policy is currently enabling the Charity to maintain its level of services.

Except for funds representing specific gifts, all other funds are unrestricted. These are divided into Designated Funds comprising a Development Fund, which has been created by the Board of Trustees to ensure that services can be maintained for the foreseeable future, details of which are shown in the notes to the Accounts under Accounting Policies and note 18, and a General Fund, being the cumulative operating performance of the Charity. Both funds provide free reserves of at least 12 months unrestricted expenditure, providing sufficient funds to cover the welfare and service costs, and the cost of managing and promoting the Charity. Based on this the Charity is able to prepare its financial statements on a going concern basis.

Risk Management

The Trustees consider that the major risk the Charity faces is financial, which is managed by the Board of Trustees reviewing the financial statements on a quarterly basis as well as regular reviews from a financial subcommittee and also complemented by twice yearly reviews with our external investment manager. As part of its longer term strategic planning, the Board of Trustees continues to work towards a sustainable financial basis for the Charity while maintaining service levels.

Investment Policy

The Board of Trustees is responsible for the investment of funds in excess of current requirements which are 26 held in investments authorised by law as investments for trust funds. As permitted by the Charity’s Memorandum and Articles of Association, the Board of Trustees has given the Investment Managers, Investec Wealth & Investment Limited discretion to manage the portfolio on the low side of medium risk; due to challenging markets a realistic return of £60,000 was anticipated p.a but this was exceeded with a return of £64,267.

D. FUTURE PLANS

Sight Support continually monitor demand and effectiveness of services and look forward to continued development of existing and new services.

We continue to look for innovative ways of generating income and developing new income streams to ensure future sustainability.

Page 5

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

E. STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is a company limited by guarantee governed by its Memorandum and Articles of Association. It is a registered charity with the Charity Commission. The liability of the members in the event of the Charity being wound up is limited to a sum not exceeding £10.

Method of Appointment or Election Of Trustees

Potential new Trustees complete a detailed application form and interview process designed to identify the key skills and experiences they are able to bring to the Charity. The appointment of a new Trustee is made by majority vote at a quorate meeting of the Board of Trustees. Once appointed, Trustees are put forward to be elected by members at the subsequent Annual General Meeting and submitted for re-election every three years thereafter.

Policies Adopted for the Induction and Training of Trustees

After appointment, new Trustees are provided with a range of information to support them in their role as a trustee. New Trustees receive an induction covering the statutory responsibilities of trustees, the main documents which set out the operational framework of the Charity including the Memorandum and Articles of Association, the funding structure of the Charity and future plans and objectives. Trustees are kept up to date through regular updates at each Board Meeting.

Organisation

The composition of the Board of Trustees is regularly reviewed to ensure an appropriate level of skills and expertise is available to the Charity. The Board normally meets six times per year. A Chief Executive is appointed by the Trustees to manage the day to day operations of the Charity. To facilitate effective operations, the Chief Executive, together with other members of the Senior Management Team, have delegated authority for operational matters including finance and employment.

Pay Policy for Senior Staff

The directors consider the Board of Trustees, who are the Charity’s directors, and the Senior Management Team as the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All directors give their time freely and no director received remuneration for their services to the Charity in the year. Details of directors’ expenses and related party transactions are disclosed in note 12 to the accounts. The pay of the senior staff is reviewed annually, as for all paid employees of the Charity. Salary increases in excess of any general cost of living award are only made where an individual’s responsibilities have changed significantly.

Page 6

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Trustees Responsibilities in Relation to the Accounts

The Trustees (who are Directors of the company for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 its incoming resources and application of resources for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to 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.

Statement as to disclosure to our auditors

As far as the Trustees are aware, there is no relevant audit information of which the charity’s auditors are unaware. Each of the Trustees has taken all steps that he ought to have taken as a Trustee in order to make himself aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

Approved by order of the members of the board of Trustees on 8 August 2023 and signed on their behalf by:

D Rosenberg Chairman

Page 7

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIGHT SUPPORT HULL AND EAST YORKSHIRE

Opinion

We have audited the financial statements of Sight Support Hull and East Yorkshire (the 'charity') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the 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:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 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 8

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIGHT SUPPORT HULL AND EAST YORKSHIRE (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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:

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.

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:

Page 9

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIGHT SUPPORT HULL AND EAST YORKSHIRE (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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIGHT SUPPORT HULL AND EAST YORKSHIRE (CONTINUED)

Auditors' 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 Auditors' 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page 11

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIGHT SUPPORT HULL AND EAST YORKSHIRE (CONTINUED)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Auditors' 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 Auditors' 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.

Robert Anderson (Senior statutory auditor)

for and on behalf of

Streets Audit LLP

Chartered Accountants and Statutory Auditor Halifax House 30 George Street Hull East Yorkshire HU1 3AJ

Date: 26 September 2023

Page 12

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations, grants and legacies
4
Charitable activities
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net (expenditure)/income before net
(losses)/gains on investments
Net (losses)/gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
132,542
202,420
64,267
29,699
428,928
85,750
578,780
664,530
(235,602)
(193,986)
(429,588)
2,514,185
(429,588)
2,084,597		 Restricted
funds
2023
£
23,423
-
-
-
23,423
-
22,322
22,322
1,101
-
1,101
11,807
1,101
12,908		 Total
funds
2023
£
155,965
202,420
64,267
29,699
452,351
85,750
601,102
686,852
(234,501)
(193,986)
(428,487)
2,525,992
(428,487)
2,097,505		 Total
funds
2022
£
249,219
196,477
61,177
30,312
537,185
79,940
586,430
666,370
(129,185)
113,536
(15,649)
2,541,641
(15,649)
2,525,992

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

The notes on pages 17 to 37 form part of these financial statements.

Page 13

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee) REGISTERED NUMBER: 00299291

BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets		 17,576
13,425
24,067
55,068
(45,475)		 2023
£
233,318
1,854,594
2,087,912
9,593
2,097,505
2,097,505
2,097,505		 13,525
13,368
44,172
71,065
(55,213)		 2022
£
256,887
2,253,253
2,510,140
15,852
2,525,992
2,525,992
2,525,992

Page 14

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee) REGISTERED NUMBER: 00299291

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

Note
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 2023
£
12,908
2,084,597
2,097,505		 2022
£
11,807
2,514,185
2,525,992

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 have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 08 August 2023 and signed on their behalf by:

D Rosenberg Chairman

The notes on pages 17 to 37 form part of these financial statements.

Page 15

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Investment income
Purchase of tangible fixed assets
Net cash withdrawn from investment portfolio
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
(284,891)
64,267
(3,794)
204,313
264,786
(20,105)
44,172
24,067		 2022
£
(169,910)
61,177
(12,297)
133,047
181,927
12,017
32,155
44,172

The notes on pages 17 to 37 form part of these financial statements

Page 16

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Sight Support Hull and East Yorkshire (the charity) is a limited company by guarantee incorporated in England and Wales and a registered charity. The charity's registered office is at 466 Beverley Road, Hull, England, HU5 1NF. The charity's principal activity is to help and support people with sight loss.

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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Sight Support Hull and East Yorkshire 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.

2.2 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.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 17

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.3 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.

Expenditure on raising funds includes all expenditure incurred by the Charity 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 Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 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.

Page 18

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

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%
Motor vehicles - 25%
Fixtures and fittings - 15%
Computer equipment - 33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.

2.6 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 Statement of financial activities.

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost represents the direct cost of the purchase of stock.

2.8 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.

2.9 Cash at bank and in hand

Cash at bank and in hand represents monies held in current and savings accounts with instant access and petty cash.

2.10 Liabilities

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.

Page 19

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.11 Financial instruments

The Charity 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.

2.12 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 Charity 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 as follows:

The development fund has been designated by the board of Trustees to ensure that the Charity can maintain planned development of its services for the foreseeable future from investment income supplemented, if necessary, by the sale of investments. The fund is increased by the value of legacies received and accomodates charges in the value of all investments and is reduced annually by a transfer, if required, to the general fund to cover any deficit for the year.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity 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.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Tangible fixed assets are recognised at cost or valuation less accumulated depreciation and any impairment. Depreciation takes place over the estimated useful life down to the assessed residual value.

The carrying amount of the charity's fixed assets is tested as soon as changed conditions show that a need for impairment has arisen.

Page 20

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Income from donations, grants and legacies

Unrestricted
funds
2023
£
Donations
24,591
Legacies
43,709
Grants
64,242
132,542
Unrestricted
funds
2022
£
Donations
21,632
Legacies
128,424
Grants
38,559
Coronavirus Job Retention Scheme
37,020
225,635		 Restricted
funds
2023
£
-
-
23,423
23,423
Restricted
funds
2022
£
-
-
23,584
-
23,584		 Total
funds
2023
£
24,591
43,709
87,665
155,965
Total
funds
2022
£
21,632
128,424
62,143
37,020
249,219

Page 21

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from charitable activities

Unrestricted
funds
2023
£
Beech Holme Court
166,418
Catering Income
15,142
Day Group
20,860
202,420
Unrestricted
funds
2022
£
Beech Holme Court
171,887
Catering Income
10,089
Day Group
14,501
196,477
6.
Investment income
Unrestricted
funds
2023
£
Investment Income
64,267
Unrestricted
funds
2022
£
Investment Income
61,177		 Total
funds
2023
£
166,418
15,142
20,860
202,420
Total
funds
2022
£
171,887
10,089
14,501
196,477
Total
funds
2023
£
64,267
Total
funds
2022
£
61,177

Page 22

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Other incoming resources

Other Incoming Resources
Other Incoming Resources		 Unrestricted
funds
2023
£
29,699
Unrestricted
funds
2022
£
30,312		 Total
funds
2023
£
29,699
Total
funds
2022
£
30,312

Page 23

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. Expenditure on raising funds

Fundraising trading expenses

Unrestricted
funds
2023
£
Direct costs
22,754
Support costs
8,292
Wages and salaries
47,456
National insurance
4,405
Pension costs
2,843
85,750
Unrestricted
funds
2022
£
Direct costs
22,213
Support costs
6,772
Wages and salaries
44,640
National insurance
3,302
Pension costs
3,013
79,940		 Total
funds
2023
£
22,754
8,292
47,456
4,405
2,843
85,750
Total
funds
2022
£
22,213
6,772
44,640
3,302
3,013
79,940

Page 24

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities

Welfare and Services
Beech Holme Court
Welfare and Services
Beech Holme Court		 Activities
undertaken
directly
2023
£
301,725
158,198
459,923
Activities
undertaken
directly
2022
£
305,290
153,486
458,776		 Support
costs
2023
£
125,493
15,686
141,179
Support
costs
2022
£
113,470
14,184
127,654		 Total
funds
2023
£
427,218
173,884
601,102
Total
funds
2022
£
418,760
167,670
586,430

Analysis of direct costs

Staff costs
Other direct costs		 Welfare and
Services
2023
£
219,348
82,377
301,725		 Beech
Holme
Court
2023
£
30,573
127,625
158,198		 Total
funds
2023
£
249,921
210,002
459,923

Page 25

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Other direct costs		 Welfare and
Services
2022
£
209,222
96,068
305,290		 Beech
Holme Court
2022
£
23,689
129,797
153,486		 Total
funds
2022
£
232,911
225,865
458,776

Analysis of support costs

Staff costs
Other support costs
Staff costs
Other support costs		 Welfare and
Services
2023
£
59,155
66,338
125,493
Welfare and
Services
2022
£
59,293
54,177
113,470		 Beech
Holme
Court
2023
£
7,394
8,292
15,686
Beech
Holme Court
2022
£
7,412
6,772
14,184		 Total
funds
2023
£
66,549
74,630
141,179
Total
funds
2022
£
66,705
60,949
127,654

Page 26

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Auditors' remuneration

2023 2022
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 4,500 4,500

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
343,525
16,809
10,840
371,174		 2022
£
326,649
13,987
9,935
350,571

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Total 24 25

No employee received remuneration amounting to more than £60,000 in either year.

The total amount of benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the charity was £117,000 (2022 - £116,000).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .

Page 27

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Tangible fixed assets

Cost or valuation
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
566,593
-
566,593
341,345
8,575
349,920
216,673
225,248		 Motor
vehicles
£
108,797
-
108,797
94,024
9,625
103,649
5,148
14,773		 Fixtures and
fittings
£
155,981
-
155,981
141,995
6,941
148,936
7,045
13,986		 Computer
equipment
£
17,447
3,794
21,241
14,567
2,222
16,789
4,452
2,880		 Total
£
848,818
3,794
852,612
591,931
27,363
619,294
233,318
256,887

Page 28

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Fixed asset investments

Cost or valuation
At 1 April 2022
Additions
Disposals
Revaluations
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investment
portfolio
£
2,253,253
785,652
(683,032)
(501,279)
1,854,594
1,854,594
2,253,253

The overall disposal value in the year represents the net effect of cash transferred from the portfolio, the gains/losses on disposal of investments in the year and other income and charges arising from the holding of investments.

The change in market value represents the overall change in the valuation of investments held and the investment management charges in the year paid out of the portfolio of £12,313.

Investments are represented by:
UK Fixed Interest
Overseas Fixed Interest
UK Equities
Overseas Equities
Emerging Economies
UK Property
Alternative Assets
Cash		 2023
£
321,531
91,743
422,867
572,747
-
93,913
266,120
85,673
1,854,594		 2022
£
174,226
124,419
662,192
626,794
40,392
145,133
315,055
165,042
2,253,253

Page 29

(A company limited by guarantee)

SIGHT SUPPORT HULL AND EAST YORKSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Stocks

2023 2022
£ £
Stock 17,576 13,525

16. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
1,734
8,301
3,390
13,425		 2022
£
1,803
7,219
4,346
13,368

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods		 2023
£
2,898
4,918
1,342
36,317
45,475
2023
£
33,888
24,822
(33,888)
24,822		 2022
£
5,320
4,091
984
44,818
55,213
2022
£
69,878
13,451
(49,441)
33,888

Income deferred in the year relates to grant income received in advance.

Page 30

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Designated
Development
Fund
General funds
General Funds
Total
Unrestricted
funds		 Balance at 1
April 2022
£
2,514,185
-
2,514,185		 Income
£
43,709
385,219
428,928		 Expenditure
£
(12,313)
(652,217)
(664,530)		 Transfers
in/out
£
(266,998)
266,998
-		 Gains/
(Losses)
£
(193,986)
-
(193,986)		 Balance at
31 March
2023
£
2,084,597
-
2,084,597

Page 31

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds (continued)

Restricted
funds
Liz and Terry
Bramall
Foundation
The Rank
Foundation
Reaching
Communities
Lottery Funding
Childrens
Services Fund
Total of funds		 Balance at 1
April 2022
£
2,602
268
8,937
-
11,807
2,525,992		 Income
£
-
-
10,000
13,423
23,423
452,351		 Expenditure
£
(1,487)
(107)
(15,603)
(5,125)
(22,322)
(686,852)		 Transfers
in/out
£
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
(193,986)		 Balance at
31 March
2023
£
1,115
161
3,334
8,298
12,908
2,097,505

The designated development fund has been designated by the Board of Trustees as a development fund to ensure that the Charity can maintain planned development of its services for the foreseeable future.

The general fund represents the free funds of the Charity which are not designated for particular purposes.

Resticted Funds:

Liz and Terry Bramall Foundation - Grant to cover the cost of CCTV which will be expended over a number of years as the capital cost is depreciated.

The Rank Foundation - Grant to cover the cost of a bariatric chair which will be expended over a number of years as the capital cost is depreciated.

Reaching Communities Lottery Fund - Lottery funding to cover various SocialEyes costs, together with the cost of a minibus which is being depreciated over its estimated useful life.

Childrens Services Fund - Funding providing a diverse programme of activities for children aged 5-18.

Page 32

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Designated
Funds - all funds
General funds
General Funds -
all funds
Total
Unrestricted
funds		 Balance at
1 April 2021
£
2,527,731
-
2,527,731		 Income
£
128,424
385,177
513,601		 Expenditure
£
(13,904)
(626,779)
(640,683)		 Transfers
in/out
£
(241,602)
241,602
-		 Gains/
(Losses)
£
113,536
-
113,536		 Balance at
31 March
2022
£
2,514,185
-
2,514,185

Page 33

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Statement of funds (continued)

Restricted
funds
Liz and Terry
Bramall
Foundation
The Rank
Foundation
Reaching
Communities
Lottery Funding
Total of funds		 Balance at
1 April 2021
£
4,088
339
9,483
13,910
2,541,641		 Income
£
-
-
23,584
23,584
537,185		 Expenditure
£
(1,486)
(71)
(24,130)
(25,687)
(666,370)		 Transfers
in/out
£
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
113,536		 Balance at
31 March
2022
£
2,602
268
8,937
11,807
2,525,992

Page 34

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Summary of funds

Summary of funds - current year


Designated
funds
General funds
Restricted funds		 Balance at 1
April 2022
£
2,514,185
-
11,807
2,525,992		 Income
£
43,709
385,219
23,423
452,351
Income
£
128,424
385,177
23,584
537,185		 Expenditure
£
(12,313)
(652,217)
(22,322)
(686,852)
Expenditure
£
(13,904)
(626,779)
(25,687)
(666,370)		 Transfers
in/out
£
(266,998)
266,998
-
-
Transfers
in/out
£
(241,602)
241,602
-
-		 Gains/
(Losses)
£
(193,986)
-
-
(193,986)
Gains/
(Losses)
£
113,536
-
-
113,536		 Balance at
31 March
2023
£
2,084,597
-
12,908
2,097,505
Balance at
31 March
2022
£
2,514,185
-
11,807
Summary of funds - prior year
Designated
funds
General funds
Restricted funds		 Balance at
1 April 2021
£
2,527,731
-
13,910
2,541,641
2,525,992

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
232,042
Fixed asset investments
1,854,594
Current assets
43,436
Creditors due within one year
(45,475)
Total
2,084,597		 Restricted
funds
2023
£
1,276
-
11,632
-
12,908		 Total
funds
2023
£
233,318
1,854,594
55,068
(45,475
2,097,505

Page 35

SIGHT SUPPORT HULL AND EAST YORKSHIRE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss/(gain) on investments
Investment income
Decrease/(increase) in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash used in operating activities
22.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
23.
Analysis of changes in net debt
At 1 April
2022
£
Cash at bank and in hand
44,172		 2023
£
(428,487)
27,363
194,346
(64,267)
(4,051)
(57)
(9,738)
(284,891)
2023
£
24,067
24,067
Cash flows
£
(20,105)		 2022
£
(15,649)
40,507
(113,536)
(61,177)
(2,367)
12,379
(30,067)
(169,910)
2022
£
44,172
44,172
At 31 March
2023
£
24,067

Page 36

SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24. Pension commitments

The Charity has established an auto-enrolment pension scheme for all employees with effect from 1 August 2016. The Charity has also made arrangements for senior executives to contribute to a group personal pension scheme.

The pension cost charge represents contributions payable by the Charity to the funds and amounted to £10,840 (2022 - £9,935). An amount of £1,342 (2022 - £984) was payable to the funds at the balance sheet date and are included in creditors.

25. Related party transactions

During the year a business with which Trustee M O'Grady is connected provided support and services to the charity totalling £8,780 (2022 - £5,968). At the year end there was a balance owing to the business totalling £Nil (2022 - £678).

Page 37