**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||
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 2024**
**Solicitors** Gosschalks Queens Gardens Dock Street Hull HU1 3DZ **Investment Advisors** Investec Wealth & Investment Limited 2 Gresham Street London EC2V 7QN
Page 2
## **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.
Page 3
## **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.
- 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.
- 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.
- Bi-monthly Charles Bonnet Syndrome meetings were held to allow sufferers to share and talk about their experiences in a safe and supportive environment.
- The local Macular Support Group continue to meet at Sight Support each month.
- Community engagement on accessibility issues took place at the Hull Interchange and Sewerby Hall.
- 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.
Page 4
## **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.
Page 5
## **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.
Page 6
## **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;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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
Page 7
## **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:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
Page 8
# **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
Page 9
## **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.
Page 10
## **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_|
Page 11
## **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
Page 13
# **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.
Page 14
**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.
Page 15
**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.
Page 16
## **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.
Page 17
## **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_|
Page 18
## **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