Registered number: 00299291 Charity number: 223668
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 examiner's report | 8 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 - 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 34 |
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 2024
| 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 - Alison Stannard Finance and Facilities Manager - Gill Wright Income Generation & Marketing Manager - Angela Gregory Independent Examiners Streets LLP Chartered Accountants and Statutory Auditors Halifax House 30 George Street Hull East Yorkshire HU1 3AJ Bankers HSBC Bank plc 3-4 Jameson Street Hull HU1 3JX |
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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 2024
Solicitors Gosschalks Queens Gardens Dock Street Hull HU1 3DZ Investment Advisors Investec Wealth & Investment Limited 2 Gresham Street London EC2V 7QN
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Board of Trustees present their report and accounts for Sight Support Hull and East Yorkshire (“the Charity”) for the year ended 31 March 2024. 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) (October 2019) (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 person with a visual impairment 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
In March 2024, 2,544 individual service users were registered with Sight Support Hull and East Yorkshire including people registered as sight impaired or severely sight impaired.
In the year from April 2023 to end March 2024 we continued to expand our existing services whilst also introducing new projects and activities. An important new initiative, Project Insight for children and families, started with a grant from the Ideas Fund. We were also successful in securing further funding from National Lottery Reaching Communities Fund to allow us to expand our SocialEyes programme.
Home Visits and Day Groups
Our Community Advice Officers conducted 978 face to face visits and made 1,355 telephone welfare calls. They also helped with 98 benefit applications which resulted in a total of £271,561 of additional benefit payments being received by visually impaired people to improve their quality of life.
323 referrals were made to other sources of assistance such as the sensory team, talking books and low vision assessments.
Our popular day groups held at Sight Support and in Withernsea, Goole and Bridlington, had a total of 3,520 visits this year.
Telephone befriending, a valuable resource for our service users most at risk of social isolation; 2,691 calls were made by 24 befrienders supporting 106 service users during this period. All of the 2,221 telephone befriender hours were donated by our very special volunteers who provide this service.
Resource Centre
A total of 270 people have visited our Resource Centre during the year and have been able to try out and purchase specialist equipment to help with visual impairment. We also held 4 focus days with companies demonstrating their equipment directly to 45 people and a Low Vision exhibition was held in March 2024 with 80 people attending.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Clubs And Groups
A new monthly subscription system was introduced for the SocialEyes groups making it easier for service users to pay for sessions, which also cut down on administration and made the project more sustainable. The SocialEyes activities have continued to be popular. A new monthly Walk and Talk session was introduced with walks around Hull City Centre, Beverley and the Waters Edge nature reserve in Barton. In April, members of the SocialEyes Group attended the annual Rotary Disability Games, and three service users won medals in their events.
The Social Zone session every Wednesday has grown in popularity and helped introduce new members to other activities. We have continued to work with FitMums at the Workout Wednesday sessions and Friday Walk/Run sessions resulting in improved service user confidence and fitness.
Those attending the art groups, run in partnership with Artlink, have seen their confidence and artistic creativity grow, so much so that they featured in an Artlink exhibition held in January. One service user designed a garden sculpture which took pride of place at the exhibition.
The singing group has seen numbers grow during the period and with 12 people regularly attending each week. In October, they performed at Hornsea Floral Hall as part of the Celebration of Older People week.
Technology, Training and Community Engagement
During the year, Sight Support helped our service users with a variety of technology interventions, including the following:
-
Our Training Officer delivered thirteen sessions of Visual Impairment Awareness (VIA) and Eye Health training to 157 people.
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Technology advice and support was given in 153 one to one sessions held in people’s homes or at Sight Support and 108 technology queries were answered on the phone.
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Information sessions were held for 58 people newly registered with a visual impairment. They were given support and information on what happens next and signposted to other relevant services.
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Bi-monthly Charles Bonnet Syndrome meetings were held to allow sufferers to share and talk about their experiences in a safe and supportive environment.
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The local Macular Support Group continue to meet at Sight Support each month.
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Community engagement on accessibility issues took place at the Hull Interchange and Sewerby Hall.
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Another key moment was a visit to the class of one of our VI children at Hedon Primary School. The 3-hour VI workshop to help her classmates understand sight loss was a huge success with brilliant feedback from the school.
Partnerships
We have continued our successful partnerships with FitMums and Artlink and made new partnerships, as part of Project Insight our Children’s and Families project, with organisations such as ReWilding Youth, Aspire Gymnastics Club and Mambo Jambo.
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 acting as the managing agents for Places for People.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
C. FINANCIAL REVIEW
Our income for the year has increased overall by 79% from £452,351 to £810,479. This can almost entirely be attributed to an increase in legacy income which fluctuates dependent on them being kindly received. Legacy income increased by £236,513 to £280,222 from £43,709 in the prior year.
Although our income streams continue to be affected by the economic issues, most of our other income streams have increased in this year.
We have been able to increase some of our charitable activities resulting in an increase in income. Fundraising income has increased by 35% and day group income has increased by 21%. It is anticipated that the charity will continue to increase the regular services and fundraising activities and the income should increase again in the next financial year.
Beech Holme Court income increased by 35% from £166,418 to £223,895 and the expenditure increased by 17% from £173,884 to £203,296, resulting in a net surplus of £20,599 (2023 £7,466 deficit).
Expenditure in the year increased by 8% compared to the previous year.
During the year, the markets have continued to be affected by the conflicts, inflation, labour shortages and cyclical uncertainty, despite this, the portfolio has increased in value by £40,038. However, the investment income decreased slightly in the year by £1,910 from £64,267 to £62,357. This increase in the portfolio value has increased the surplus in the year of £63,919 (2023 £234,501 deficit) to a surplus of £103,957 (2023 £428,487 deficit).
Although this year has been another difficult year, there are clear signs of improvement, and the charity remains financially sustainable due to good financial management and sufficient reserves which will be used as necessary.
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 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, regular reviews from a financial subcommittee and quarterly 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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Investment Policy
The Board of Trustees is responsible for the investment of funds in excess of current requirements which are 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 (UK) discretion to manage the portfolio on the low side of medium risk; due to challenging markets a realistic return of £63,996 for this financial year was anticipated but the actual return was £62,357.
D. FUTURE PLANS
Following the retirement of Chief Executive Officer, Sandra Ackroyd in March 2024, Alison Stannard was appointed as Chief Executive Officer to lead the charity forward. Alison has worked at Sight Support since 2011 and has gained lots of knowledge and experience in her previous roles.
A new initiative Project Better Together, funded by Two Ridings Community Foundation, will bring together visually impaired and sighted people to help combat social isolation and hopefully, create lasting connections which may lead to future volunteer opportunities.
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 Board Meetings.
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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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 25 to the accounts. The pay of the senior staff is reviewed annually, as for all the 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.
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:
-
select suitable accounting policies and apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
D Rosenberg Chairman
Date: 7 October 2024
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustees of Sight Support Hull and East Yorkshire ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 17 October 2024
Robert Anderson FCA
Streets LLP Halifax House 30 George Street Hull HU1 3AJ
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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 2024
| 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 9 Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 232,350 268,913 62,357 50,527 614,147 90,635 577,685 668,320 (54,173) 40,038 (14,135) 2,084,597 (14,135) 2,070,462 |
Restricted funds 2024 £ 196,332 - - - 196,332 - 78,240 78,240 118,092 - 118,092 12,908 118,092 131,000 |
Total funds 2024 £ 428,682 268,913 62,357 50,527 810,479 90,635 655,925 746,560 63,919 40,038 103,957 2,097,505 103,957 2,201,462 |
Total funds 2023 £ 132,757 202,420 64,267 52,907 452,351 98,884 587,968 686,852 (234,501) (193,986) (428,487) 2,525,992 (428,487) 2,097,505 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 34 form part of these financial statements.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee) REGISTERED NUMBER: 00299291
BALANCE SHEET AS AT 31 MARCH 2024
| 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 |
19,969 23,918 28,186 72,073 (53,075) |
2024 £ 216,002 1,966,462 2,182,464 18,998 2,201,462 2,201,462 2,201,462 |
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 |
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee) REGISTERED NUMBER: 00299291
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024
| Note Charity funds Restricted funds 18 Unrestricted funds 18 Total funds |
2024 £ 131,000 2,070,462 2,201,462 |
2023 £ 12,908 2,084,597 |
|---|---|---|
| 2,097,505 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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 and signed on their behalf by:
D Rosenberg Chairman
Date: 7 October 2024
The notes on pages 14 to 34 form part of these financial statements.
Page 12
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
| 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 (inflow) / withdrawn from investment portfolio Net cash (used in)/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 |
2024 £ 26,543 62,357 (2,781) (82,000) (22,424) 4,119 24,067 28,186 |
2023 £ (284,891) 64,267 (3,794) 204,313 264,786 (20,105) 44,172 24,067 |
|---|---|---|
The notes on pages 14 to 34 form part of these financial statements
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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), 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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 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.
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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.5 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.
2.6 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.
2.7 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.
2.8 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.
2.9 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.
2.10 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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.11 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 changes 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.
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Income from donations, grants and legacies
| Unrestricted funds 2024 £ Donations 49,011 Legacies 143,768 Grants 39,571 232,350 Unrestricted funds 2023 £ Donations 26,222 Legacies 43,709 Grants 39,403 109,334 |
Restricted funds 2024 £ - 136,454 59,878 196,332 Restricted funds 2023 £ - - 23,423 23,423 |
Total funds 2024 £ 49,011 280,222 99,449 |
|---|---|---|
| 428,682 | ||
| Total funds 2023 £ 26,222 43,709 62,826 |
||
| 132,757 |
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SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. Income from charitable activities
| Unrestricted funds 2024 £ Beech Holme Court 223,895 Catering Income 19,704 Day Group 25,314 268,913 6. Investment income Unrestricted funds 2024 £ Investment Income 62,357 7. Other incoming resources Unrestricted funds 2024 £ Other Incoming Resources 50,527 |
Total funds 2024 £ 223,895 19,704 25,314 268,913 Total funds 2024 £ 62,357 Total funds 2024 £ 50,527 |
Total funds 2023 £ 166,418 15,142 20,860 |
|---|---|---|
| 202,420 | ||
| Total funds 2023 £ 64,267 |
||
| Total funds 2023 £ 52,907 |
Page 19
(A company limited by guarantee)
SIGHT SUPPORT HULL AND EAST YORKSHIRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds 2024 £ Direct costs 26,411 Support costs 8,787 Wages and salaries 50,573 National insurance 2,918 Pension costs 1,946 90,635 |
Total funds 2024 £ 26,411 8,787 50,573 2,918 1,946 90,635 |
Total funds 2023 £ 22,754 8,292 60,590 4,405 2,843 |
|---|---|---|
| 98,884 |
9. Analysis of expenditure by activities
| Welfare and Services Beech Holme Court |
Activities undertaken directly 2024 £ 300,552 184,288 484,840 |
Support costs 2024 £ 152,077 19,008 171,085 |
Total funds 2024 £ 452,629 203,296 |
|---|---|---|---|
| 655,925 |
Page 20
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
| Welfare and Services Beech Holme Court |
Activities undertaken directly 2023 £ 288,591 158,198 446,789 |
Support costs 2023 £ 125,493 15,686 141,179 |
Total funds 2023 £ 414,084 173,884 |
|---|---|---|---|
| 587,968 |
Analysis of direct costs
| Staff costs Other direct costs Staff costs Other direct costs |
Welfare and Services 2024 £ 209,155 91,397 300,552 Welfare and Services 2023 £ 206,214 82,377 288,591 |
Beech Holme Court 2024 £ 29,087 155,201 184,288 Beech Holme Court 2023 £ 30,573 127,625 158,198 |
Total funds 2024 £ 238,242 246,598 |
|---|---|---|---|
| 484,840 | |||
| Total funds 2023 £ 236,787 210,002 |
|||
| 446,789 |
Page 21
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Other support costs Staff costs Other support costs |
Welfare and Services 2024 £ 81,773 70,304 152,077 Welfare and Services 2023 £ 59,155 66,338 125,493 |
Beech Holme Court 2024 £ 10,221 8,787 19,008 Beech Holme Court 2023 £ 7,394 8,292 15,686 |
Total funds 2024 £ 91,994 79,091 |
|---|---|---|---|
| 171,085 | |||
| Total funds 2023 £ 66,549 74,630 |
|||
| 141,179 |
Page 22
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 3,750 | - |
| Fees payable to the Charity's auditor for the audit of the Charity's annual | ||
| accounts | - | 4,500 |
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 358,442 17,593 9,638 385,673 |
2023 £ 343,525 16,809 10,840 |
|---|---|---|
| 371,174 |
The average number of persons employed by the Charity during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Total | 23 | 24 |
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 £123,319 (2023 - £117,000).
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .
Page 23
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold property £ 566,593 - 566,593 349,920 8,574 358,494 208,099 216,673 |
Motor vehicles £ 108,797 - 108,797 103,649 2,166 105,815 2,982 5,148 |
Fixtures and fittings £ 155,981 - 155,981 148,936 6,928 155,864 117 7,045 |
Computer equipment £ 21,241 2,781 24,022 16,789 2,429 19,218 4,804 4,452 |
Total £ 852,612 2,781 |
|---|---|---|---|---|---|
| 855,393 | |||||
| 619,294 20,097 |
|||||
| 639,391 | |||||
| 216,002 | |||||
| 233,318 |
Page 24
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 14. Fixed asset investments Cost or valuation At 1 April 2023 Additions Revaluations At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Investment portfolio £ 1,854,594 82,000 29,868 |
|---|---|
| 1,966,462 | |
| 1,966,462 | |
| 1,854,594 |
The overall addition 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 £10,170.
| Investments are represented by: UK Fixed Interest Overseas Fixed Interest UK Equities Overseas Equities Emerging Economies UK Property Alternative Assets Cash |
2024 £ 567,902 75,784 337,227 648,792 29,724 82,801 94,811 129,421 1,966,462 |
2023 £ 321,531 91,743 422,867 572,747 - 93,913 266,120 85,673 1,854,594 |
|---|---|---|
Page 25
(A company limited by guarantee)
SIGHT SUPPORT HULL AND EAST YORKSHIRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. Stocks
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Stock | 19,969 | 17,576 |
16. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income 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 |
2024 £ 6,992 4,300 12,626 23,918 2024 £ 15,857 5,540 2,498 29,180 53,075 2024 £ 24,822 16,922 (24,822) 16,922 |
2023 £ 1,734 8,301 3,390 |
|---|---|---|
| 13,425 | ||
| 2023 £ 2,898 4,918 1,342 36,317 |
||
| 45,475 | ||
| 2023 £ 33,888 24,822 (33,888) |
||
| 24,822 |
17. Creditors: Amounts falling due within one year
Income deferred in the year relates to grant income received in advance.
Page 26
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 2023 £ 2,084,597 - 2,084,597 |
Income £ 143,768 470,379 614,147 |
Expenditure £ (10,170) (658,150) (668,320) |
Transfers in/out £ (187,771) 187,771 - |
Gains/ (Losses) £ 40,038 - 40,038 |
Balance at 31 March 2024 £ 2,070,462 |
|---|---|---|---|---|---|---|
| - | ||||||
| 2,070,462 |
Page 27
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
18. Statement of funds (continued)
| Restricted funds Liz and Terry Bramall Foundation The Rank Foundation Reaching Communities Lottery Funding Childrens Services Fund Goole Legacy Tandem Legacy P Taylor Fund Total of funds |
Balance at 1 April 2023 £ 1,115 161 3,334 8,298 - - - 12,908 2,097,505 |
Income £ - - 27,013 32,865 132,854 3,000 600 196,332 810,479 |
Expenditure £ (1,115) (161) (30,347) (41,163) (4,854) - (600) (78,240) (746,560) |
Transfers in/out £ - - - - - - - - - |
Gains/ (Losses) £ - - - - - - - - 40,038 |
Balance at 31 March 2024 £ - - - - 128,000 3,000 - |
|---|---|---|---|---|---|---|
| 131,000 | ||||||
| 2,201,462 |
Page 28
SIGHT SUPPORT HULL AND EAST YORKSHIRE (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
18. Statement of funds (continued)
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.
Goole Legacy - Legacy donated in the name of the charity for the use and benefit of blind people in the Goole area only.
Tandem Legacy - Legacy received for the funding of a tandem for use by the Charity.
P Taylor Fund - Private donation to fund furniture for the communal area.
Page 29
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
18. Statement of funds (continued)
Statement of funds - prior 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 30
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 |
Page 31
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
19. Summary of funds
Summary of funds - current year
Designated funds General funds Restricted funds |
Balance at 1 April 2023 £ 2,084,597 - 12,908 2,097,505 |
Income £ 143,768 470,379 196,332 810,479 Income £ 43,709 385,219 23,423 452,351 |
Expenditure £ (10,170) (658,150) (78,240) (746,560) Expenditure £ (12,313) (652,217) (22,322) (686,852) |
Transfers in/out £ (187,771) 187,771 - - Transfers in/out £ (266,998) 266,998 - - |
Gains/ (Losses) £ 40,038 - - 40,038 Gains/ (Losses) £ (193,986) - - (193,986) |
Balance at 31 March 2024 £ 2,070,462 - 131,000 |
|---|---|---|---|---|---|---|
| 2,201,462 | ||||||
| Balance at 31 March 2023 £ 2,084,597 - 12,908 |
||||||
| Summary of funds - prior year | ||||||
| Designated funds General funds Restricted funds |
Balance at 1 April 2022 £ 2,514,185 - 11,807 2,525,992 |
|||||
| 2,097,505 |
20. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 216,002 Fixed asset investments 1,966,462 Current assets (58,927) Creditors due within one year (53,075) Total 2,070,462 |
Restricted funds 2024 £ - - 131,000 - 131,000 |
Total funds 2024 £ 216,002 1,966,462 72,073 (53,075 |
|---|---|---|
| 2,201,462 |
Page 32
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
21. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Loss/(gain) on investments Investment income Decrease/(increase) in stocks Increase in debtors (Decrease)/increase in creditors Net cash provided by/(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 2023 £ Cash at bank and in hand 24,067 |
2024 £ 103,957 20,097 (29,868) (62,357) (2,393) (10,493) 7,600 26,543 2024 £ 28,186 28,186 Cash flows £ 4,119 |
2023 £ (428,487) 27,363 194,346 (64,267) (4,051) (57) (9,738) (284,891) 2023 £ 24,067 24,067 At 31 March 2024 £ 28,186 |
|---|---|---|
Page 33
SIGHT SUPPORT HULL AND EAST YORKSHIRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 £9,638 (2023 - £10,840). An amount of £1,116 (2023 - £1,342) was payable to the funds at the balance sheet date and is 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 £10,948 (2023 - £8,780). At the year end there was a balance owing to the business totalling £Nil (2023 - £Nil).
Page 34