REGISTERED NUMBER: •11146281 (EthEl*Jbd W￿¢8) Report of the Trustees and Un*udlted Fln8nd81 Ststements for the Yur Ended 31 M*r¢h 21124 for Th¢ Leeds So¢kty for De8f & BIiDd Petsplc The tktd5 Sotiety for De*f & Bllnd People (Reglgtered number.. 00146281) llldex to the UDaudi¢ed Fiti#nti#l Slatements for the Year Ended 31 Mareh 2024 Sociely Infomjation R¢port of th¢ Tn[8t￿% Ind¢p￿dent ExBminers' Rej Ststernent of FiDaDcial Activiti Balance She Notts to the Fitilncial Statements Tbe Leeds So¢lety lor De•f & Bllnd People Soekty InforJn&tlon for tht Year Eud¢d JI March 2024 JOINT PRESIDENT: Hon Ald Mr M J Dodg50ll MBE JP MrMCASmithJPMA MT J Hixon TREASURER: Mr D Taylor TRUSTEES: Ms D Burrows Mr W Finney MTS S Fost¢r Mr J Hixot) Mr P Lothdey Mr H MalJmoiyJ Ms C Roche Mts A Sp¢ar Mr E Wickrenwathe REGISTERED OFFICE.. St Mary'$ StTe¢t W¢st Ywkshire LS9 7DP CHARtTY REGISTRATIO NUMBER.. 227169 COMPANY REGISTRATION NUMBER: 00146281 (England wtd Wales) INDKPEf4DENf EXAMINER Andrew Wilkinson {FCAI Ntsleolm Jones & Co Limited Accountants and Business AdvigAbrs West Hill House Allerton Hill Chap¢l Allertoh LS7 3QB BANKERS: Yorkshire Bank Pk 94-96 Briggate Lsi 6NP Virgin Moncy Page I The i*ed8 Sotiety for Deaf & Bllmd Peopk (liegjstsred W￿￿ber. 011146281) Reportof the Tru8tee8 for the YeAr Fjhdod 31 M*reh 2(124 Tht Iru5tees pLeased to present their atnual directors, r¢port tO8eth¢r with the finaD¢ial slat¢ments of th¢ cljarity for thc year endill8 31 March 2024 which arc also prepared ts meet the fly a directors, I¢￿rt at)d a¢¢oullts for Companies Att pu4￿se￿. The Le¢d8 Society for Deaf & B]ind Pwle li a re8ist¢red Charity (1¢8iSter¢d nwnber 227169) awl 8 pTivgt¢ wmpany lirn7t¢d by guardtttee (company nurnber 146281). Its gov¢rniD8 thKwn¢nts ar¢ th¢ MfThorandum and Arti¢1¢5 of Ration. Tnrtee8 The Board of TTUSt¢es (ITowll a6 the Mwgement Conwoittee) is elected attnualty by the Mettkners present at the Annual Q¢nml Meeting {AGM). Tbe following Tntss served An the financial year 2023-24, unkss otheTr/ise itidieat¢4 were Tn￿¢¢$ on th¢ date tkat this report was approve Ms D Burrows Mr W Finney MTS S Fost¢r MT J Hixon Mr P Landey Mr H Mahmood Mr D Robinson (re8i8ned 15.12.23) Mscknhe MTS A Spmr AppolJrtmeDt of Th￿tee8 The CI￿lty is managed by a conynittee of members who sre known 8s the Mana8emeDt Committe¢. The m¢mbers aTe elected each year at the Annual General Meeting (AGM) and s¢rv¢ for a period of on¢ y¢4r. 4fi¢r which they may stand for re-ekction at the rrtxt AnDual General M¢¢tiJ)8 IAGM). All ￿¢￿￿)¢￿ are circu]ated with invitstiotjs to rjominate trustees wior to the Annual GM)¢ral Meeting (AGM). To enha￿¢ the potellti￿ pool of trustcw we have aought to id¢ntify those members who can use their own ext)erien¢e to Ls$igt the ¢harAty. Governance & Man*yment Th¢ Society i5 govtrned by the Board of Truslees which meets regularty aDd is re8￿Ms1b1e for the strat¢gi¢ direction aThl policy of the Charity. Et Is responsiblc for rnonitoriDg achievements and a¢tyal out¢onw against its Plat￿¢d obje¢tiv¢s. As at 31 March 2024, th¢re were tiine Trnstees of whom eigbt bave a sejtsory Ioss. Finance and Athninistrativc i55ucs alr ov¢r8¢¢D by the Eitw￿¢ & Genernl Pwposes Comrnittce. ObJ¢¢¢lves & Aetlvldes Tbe principal obj¢ctiv¢ of the Society to enable Dea£ B]iDd aDd DeatBlind people to have equal opporthitie4 and achieve thciT Wtential without limitatiofft. We do this by.. Having our cort)munity at tb¢ tentre of everything w¢ do. Providing a w¢l¢oming, sustxinable xnd safe placr where ¢Yeryon¢ feels at horne and is treated as equal. Enabling individuals, familics aT￿ friends to Connect and acce&s siipport, resources and services, appropriate to thcir nceds. Helping other orgaDi$8tions to develop their 5erYÉc¢s to b¢ttermeel the needs of Deaf, Blind and Deatblind People. Celebrating succes￿5 and rcspccting all. Pag62 The Leed8 Society lor Deaf & Blind People (Regi$tered rtumbtr. 00146281) Report ofthe Trustees for the Year Ended 31 MAr¢h 2024 Objettlve8 & Aftlvldei (cont) This objective is enhanced through consultation with user group8 and rewesenlEtion of 5ettwry impaired pe¢)ple within the stra¢ttwe of tbe Society. Th¢ main a¢tiviti¢s undert&ken to achieve its objectives are: The Leed5 Si8tt L8nguage tnterpreting SeThice (LSLIS) wkn'¢h provides British Sign Latt8￿age (BSL) int¢Jpreting servi¢¢s to Deaf ￿Ople. organisatioDs and businesses through coDirscts with public and private 5eGlth servi¢e PTovida3. The forniulatio]L ]DJTketing and sale of Sensory Awarelless Training (SAD lo businesses. organisotions aDd individuals. Th¢ operotion of Medical communt￿¢￿ Guide services to support De2tBlind peA)ple. Pmvi5ion of Braille, Audio Large Print serYi¢¢s. British Sign IAnguage classes. Rooms Le¢ to groups who suptM)rt D¢af p¢ople. Hiring out rooms for ¢ommer¢ial purposes. Social 8roups for the coJJllnuDity. Youth Club for 16-25 year olds. Aims. Objectiv￿ and activities are Ieviewed annually to ensure they renvditi focused on our pritJ¢ip•l obje¢tsves. have referred to the Charity Cornmis510n's 8tnernl 8uidanc¢ on public benEfit when undertaking this wiew process. Investmeot Perforniince At lh¢ 31" Marcb 2023 the vaiue of the investment portfolio stood 41 £105,565, by the 31" Marth 2024 it h4d se¢n d￿rease to £94,797. Risk A¥¥e$smellts The Trustres hhve identified ttse major strategic, business and op¢rati¢)n81 risks which tbe ¢ompw faces, and systern8 are in place to mitigate aTry exp(&%ure to these risks. Flnww R¢vkw Total incoming resources dropped from £362.145 in 2023 to £344214 tbis y¢ar with rcsource5 expcndcd falling from £409,170 to £348,654. No 8overnme￿ 8rat)ts were received in the ye4T. The deficit for the year before other ttrognised gaitis and los$¢s wa$ £4,440 Compared to 3 dcficit last ycar of £47,025. There WLS an unrealised sw)lus on thc invcstmcnt ￿tfoliO of £1294 and a realised loss on inV￿tments of £1,528. The Pension Fund sustained an Actuarial gain of £378,000 compared with u gain of £1,896,000 in 2023. At 31 March 2024 the lotsl fimds carricd forward had incre&scd from £2.072,762 to £2.446.088. There ar¢ no other financial commitments, guar8Otee$ or conting¢nt liabilities not provided for or discloscd in thc financial staicrnents. R¢s¢wv¢i PoM¢y It is feli prudem to n)aintait) rescrves, before pcnsion scheme a&setslliabilities &s these are eoxsidered not to give rise to immcdiatc cash flows at a lev¢1 whereby the reserves would meet th¢ of the Swi¢ty for approximtitely Six tnonths iti the event of the loss of all income streams. The Trustee4 giv¢n the Stat1￿ of the company as a not for profit company. Tecogn15e that il 15 ITnPOrt&nt to ma1￿￿1￿ lev¢l$ of r¢serve5 thai are not unnecessarily hi8h and that are approprialt to thc Socicty's fi]nding requirements. The factors laken inio 8¢COUtJi by the try5r¢es in¢lud¢ th¢ s¢curity of the vario￿4 income streams. the level of eurrent fjjrure njnnirtg Costs and other expettdilur¢ ￿)d the ￿e¢d lo provid¢ for flu¢¢uation8 in the fundin8 iequirements of the defJDed btnefit peDsion s¢herne. The unr&8tricted general fuTMi amounted to a 8UTplus of £2,415,307 at 31 March 2024. This is made up of hvo elements.. £1,570,(N)O relates to the pension ￿nd assct - this is undcrwritten by Leeds City Council in thc unlikely evart of default by the ¢ompat)y, although as this i$ cllrr¢ntly an asset, this does not Currently apply. £845,307 positivc fun&8 arising from operating SUTpl￿¢S in pmious years. The Trustees felt thal it was important to relain res¢ry¢s forthe fvture financial se¢urity of the Society. Page 3 The Ikeds Sodety for Dexf & Blind People (Registered Dumber: 00146281) Report of th¢ Trulttts for the Y¢•r End¢d 31 M•reh 2024 Defined Benefit Pe￿$50￿ Sthem¢ Whilst the Charity has recognised the surplus in the defined benefrt peDsion s¢h¢nr, it should be Clearly widerstood that the Charity dI￿S not have acca8S to this 'asset' in the norn￿1 course of ¢v¢nts. This is becavse the pension s¢hetne is invested for th¢ longer terni and the &%yet reco8niscd is b86ed on assumptions that change each y¢ar. R¢lÈtively minor chang¢s in underlying assumptions ean have a dwti¢ impart on the assei or liability rcco8niscd rneaning the net position at the ycar-end date mi8ht be Subject to large variations year LID year. For the year in question, th¢ assumption regarding the discount rdte applied to li8bililies ho$ in¢rea5d to 4.80/0 {previou51y 4.7ts/o1. Thi$ r¢wlt$ in a loweT valu¢ attributed to expected scheme liabilities thereby improving the net position. The Trustecs take advÈce obtain a Yaluation from the PEiJsion wovid¢r have no re&wn to ￿lIeVe th¢ assumptions m8dc in thc Valuation are uttrealistic in the circumstances. FurtheT detsils reB￿dIng the accounting risks jinked to assumptions is showtt in noie 17. Investm£￿t Polky order to rnaititsirt 2nd enhanc¢ th¢ value of its assets the Tn]5te¢s t2ke advice from the Sociery's ￿131￿¢￿ stockbrokcr, culrently Redmayne Bentley. aThJ illvest some of the Society's reseTht8 in a balatJ¢ed portfolio of equities and cash which is prof¢s$ioDaily rnanaged 10 ￿ve appropriak retums for low l¢v¢l risk. Jnvestmeut dKi5ion5 do not necessarily take into account social, environmet)tsl or ethical consider4tion5. Plans for tbe fu￿re ObjectiV¢5 2023-2024 Continue to: D¢v¢lop a busin¢ss plan tLTr Service forward and creat¢ Dew in¢orn¢ streams. Examine any ¢ollalx￿ts0n. partherthip or joint venture thai will incrcasc the viability at)d $usrainability of the Society. Continu¢ io develop a "50cia] hub concepi" for sensory impaired people iti L¢eiLs that provide8 a suitsble enViro¥￿￿e1)t for social interaction. Generak income from tnL8t & grattt orgamsations in order to enable us to delIverJ￿ S¢TVi¢¢S. Offer ongoing training to ¢llsu￿ the develop]nent of our $tsff and Tnw¢es. B¢¢ome the 'go-to' organisation forpeopl¢ with a s¢tLSOry loss in Leeds. Re4luce isolition and loneline￿ by providing opporbJDRties for soci41 int¢raction. Expalld the provision of BSL ¢lasses. Room hire to be extended. Develop an activity for the DeatBlind community. Modemise ihe interpreting &erri¢e to SUPPOrt the Comm￿lty. Employ tMre intew¢t¢rs atxl develop them to work with the orgatsisation. Offer new services ￿ g¢ner8t¢ exrra income. Achievements perform•Dce Achievements this year Retsining contracts with Lccds Teaching Hospitals NHS Trust, Lceds Commwiity Healthaye Tnjst Ènd Le￿& and York P8rttJcrship NHS Foundation Trust for the provision of ￿lI]Sh Sign Language IntetPTeter5 and Dcatblind Communicator guiiles, th¢Teby ensuring that those people with a sen80ry loss have equal access to Tnedical appoinlments and health iDfonnation. lllcreasing the pIovision of Braill¢, LArg¢ Prilli and Audio 5ervi¢¢s to ¢nsur¢ th8t those with a visual impai are abk w receive infornlation in their preferred fonllat. Id¢ntifyithg ÉJ¢w partneTsbips. relatiojjships and ¢xp¢rt ¢onts¢t$ tha¢ allow u$ to help s¢cur¢ and furth¢r improve our servic¢s. Building lifc-lon8 relationships with our servi¢¢ u5rrs by inYolY2llg Ihein tbc thvelopment of $ervic¢ provision. D￿clOpIn8 The Centre as a Swtal hub and an events Developing a Sensory Garden for the use of all the cornmut)iti¢s thai use tbe Centre iti conjun¢tion with Le¢ds Deaf . So¢io1 Club and the BSL TV programme, You, Me Gardett. Estsblishcd ncw tenants using the building for a giY)up who support the Dcaf Cornrnunity, age 11-30 years old. Sign language classes being offertd. So¢ial group$ e5tabli5hed in thc buildin8 as a so¢i41 hub for the Gommunitie$. The L¢¢ds Dedf Social Club, Ov¢r 55$ Deaf Group. Ixed$ D¢af Youth Club, the Socihl Squad. walking 8roups, Gardenin8 Group, have set up and are nJiinin8 regularly. Page 4 Tbt Leed$ Sodety for De¥f & Bllnd People IReglstered number: 001462811 Report ofthe Tn￿1¢¢9 for tb¢ Ytar Ended 31 March 2014 Acklevernenl3 aDd perfonn*nee (eont) Events beld to support the commuthe5' voice in impTOVtng provision for tb￿medIcal c*re #nd ac¢ess. Volunteers support from both the Deaf and BIiDd comtnunities regularly supportjng ihe Swiety alld social 8roups. Lip reading classes are being ruD from Th¢ Centre. Dcaf Drama group m¢¢t regularly at The Centrt. Trips Out organised to support th¢ community. Organised event¥, barbeque, days aDd craftitig. Fundrdi5iti8 events happening ihToughout the year for the dcfibrillltor and the g8rden. Statement of Responslbllttles of the TrUstee￿DIree¢orS The ¢han"ty ttusiees {who ore also the directors for the pu￿05¢5 of company law) are r¢5ponsible for preparing & tsustees, annual rcport and financial $tst¢menl$ in accordancc with appli¢abl¢ Iw and regulations arml in accordaTKe with United Kingdom Generally Accepted A￿ountIng Praciice. C<)mpany law requires thc trustee5 to prepar¢ financial stst¢m¢nts for each year. Under compatty low, the tnm¢e$ must t approv¢ the financial statements Unle￿ they are saltsfied thai they give a ttue and fair view of the slak of affait5 of the rharilable cornpany and of its incomin8 resource5 and Bpplication of resource$. tJJ¢ludin8 thc incorne and expendittwe for th¢ financial year. In preparing the financial 5tstements. Ihe trullees arc rcquircd to.. sclect Suitable accounting policie5 and then apply them con8iStently- mak¢ judgements and e5timatcs that are reasonable and prudent. state whether applicable UK a¢¢ounting standards havc bccn followc41. subje¢t to any mJt¢rial departures disclosed and explai￿￿ in th¢ fittan¢iil ststem¢nts,' prepare the fjtiancial statements on a going concem basis unkss li is ill4Trpropriat¢ to pr&8um¢ tlmt the ¢hwity will cotttinuc in business. Th¢ trpJste¢s are r¢sw>nsible for keeping adffjuate accounting Tecords that are suffiri¢nt lo show aNi explain the charity's IrAnsactions and disclos¢ witb reasonable accurary at any lime the finaneial position of the charity and that ¢nabl¢ them to rnsure that the fitjancial statcmcnts comply with the Companies A¢t 2006. Th¢y are also responsible for safeguarding the assets of the charity and h¢nce for taking reasonablc steps foT tbe prevention 8nd detection of fraud and other iTregularities. This I¢port has been preparcd ]]) accordance with the spxial provision5 of Part 15 of the Companies Act 2(M)6 rclating to $ll￿11 compan>es. The tn]stees also Conf￿ tha* they have ton)plicd witb the duty in Section 17{5) of the 2011 ChaTities Ad to bave due regard to guidance on publi¢ b¢Defit published by the Chariry Commission. ON HALF OF THE TRUSTEES: J Hixo Dated.. 14 Nov¢mber 2024 Page 5 Tht Ikeds So¢lety for De*f& Blind People Independent ExamlDer¥' Report to the TITSt￿ of The l*edi Sotlety for D¢*f & Bllnd Peopk I report on the accounts of The Leeds Society for D¢af & Blind P¢opl¢ foT the Ye￿ etrjed 31 March 2024 which ￿¢ set OEll on 7 to 17. Respective respowlbllfitles of tru6tee$ examlDer The tnJ&tees (who are also dire¢tor8 of the company for the pwp05¢ of compaTLy law) are responsil)le for tbe preparation of th¢ a¢¢ounts. The ¢harity'5 ITUSte¢s ¢on5ider thal an audit is not requird for this year und¢r section 144 of th¢ Charitie5 Act 2011 or under Part 16 of the Companies Aet 2(K)6 and thai arh ind￿end¢￿I examination is needed. The Chon'ty is rcquired by law to prcp8rc acCn￿d accounts atKI I am qttalified to undertake the examinalion by beiTL8 member of The As8ocÉation of charte￿ CNtifi¢d A¢¢ouT￿nts. Having been sotisfied thRt the ¢harAty is not subje¢t to an audit ￿￿Jer company law 8nd is ¢ligibl¢ for iDd¢perLdent examtnation it is my r¢sponsibility to.. examine the aGcountS UDd¢r wtion 145 of th¢ 2011 Ad.. to follow the procedur¢$ laid down in the General Directio￿ given by the Charity Comtnissioa under section 145(5) of th¢ 2011 A¢t', and to 51ate whether particular rnalter8 have com¢ lo my a¢l¢ntion. Basi* of l￿d¢Pendent ¢x*min¢rs report My examinatÉon was carried out in a¢¢ordance with the General Directions given by the Charity Comrnission. An examination includes a review of tbe &C¢tsUntillg records kem by the charity and a comparison of thc accounts presented with those records. It a150 include5 consideiation of ally ulwsual lteD￿ or dis¢l¢)sw¢$ in th¢ a¢count4 and the seeking of explanatiotts from you as tru51ees concernin8 any such matt¢rs. Th¢ proc¢dures undertaken do llot provide all the evidence tha¢ would be required in an audit anl COt￿qUentIY no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to thos¢ matters set in the stsiemellt klow. Independent ¢X8Jth¢rs slgttJDent Ill conn¢¢livn with ￿Y ¢xaminali05J. no matter has eomc to my attention.. which gives me reasonable cause to believe ihat, in any material res[￿(, the requirements.. to keep record5 in accordance with $386 of the Companies A¢t 2006; and to prepare acCO￿ts which a¢cord with the arrtsunting records and to comply with the accounting requitemeDts of the Companics Act 2006 and also to prepare aecounts in actordance with the Charitie5 SORP (FRS 102) 8nd with the methods and prin¢tples set out in Charitie$ SORP {FRS 102), have not n)ei', or tt) which, in my opinion, attention Should be dra￿L in order to cnable a prnper understanding of the accounts to be r¢acbcd. (2) Andrew Wilkinson FCA for aThJ on beh4lf of Malcolm joll￿ & Co Liniied Accounranis and BusiD¢ss Advisors West Hill House Allerton Hill Chapel Allerton Leeds LS7 3QB Dared: 14 November 2024 Pagc 6 Tbe i*eds Sotitty for De•f & Blind People (Reglitered Dumber. i)0146281) Statement of Fittantial Attlvlti (Ineluds￿g Stattment of Comprehen$iv¢ In¢ome) for tbe Ye*r Ended 31 March 2024 Notes UJJrestricted Rrstricted EndowiDent 31.03.2024 Funds Fund5 Funds Total Funds 31.032023 Total Fuads r¢wur¢e$ Incoming resources from generated fi￿¢18.. Donations arKi legacies IDv4slm¢nt iDci>m¢ and inl¢r¢ RentaE income lJKoming resour¢¢$ from ¢haritable activities 25.749 5,123 31,684 9,515 35264 5,123 31,684 36233 4,268 25,520 272.143 272.143 296,124 Ttst*l Ixcomlttg wourte8 (bdore ¢x¢¢PIlTrn￿ Stemi) 334,699 9,515 344.214 362,145 Resour¢es expended Charitabk activiti Governance costs Expected (sutplu$YdefJcit on stbeme asset retun 363,947 16,775 21.932 385.879 16,775 375.096 16.074 13 (S4.¢)￿1 (54,000) 18,000 Total rewurees txptnded 326,722 21,932 348,654 409,170 Nel iDcornill81(out8oiDg) resource5 befixr 7,977 (12.417) (4,440) (47,025) Governrn¢nt grants Tr8tssf¢rs between fvnds Net incomingl(outgoing) r¢sour¢es before othcr recognised gains and losses 7,977 (12,417) (4,440) (47.025) Other rttognlsed &Dd loi¥¢ Profitl(loss) on investments: {Unrealised) {Lo$$) on investro¢nts'. {Rtali3ed} ACtyan￿ and post seryice gains 10 10 13 1,294 11,528) 378.000 1,294 (1,528) 378.0(Kl {9,422) {3,859) 1,896.( Net movemeAt fl￿d$ 385,743 112,417) 373J26 1,835,694 Reconciliation of funds Total funds broughi fotward at l April 2023 2.029,564 25.117 18.081 2,072.762 237,068 Total FuM41s carrfed forward It 31 March 2024 2.415.307 12,7 18,081 2,446,088 2,072,762 All of tbe knve results are derivgj from continuiDg ￿tIvItieS. The ￿0¢¢$ fom part of th¢s¢ fit￿cIal ststcmcnts Page 7 The Leeds Sotiety for D￿( & Blind People (Re8tstered number l)0146281) Ballllee Sheet 31 M*r¢b 2024 31.03.2024 31.03.2023 Notes FIXED ASSETS: Tangible assets Inve5tm¢nis 708,219 94.797 712.208 105,565 10 803,016 817,773 CURRENT ASSETS.. Dcbtors Cash at and in hand 66,145 26,162 66,956 53,669 92J07 120,625 CREDrroRS: Amouots falling due withirt one year 12 {19,235) (20,636) NET CURRENT ASSKTS: 73,072 99,989 TOTAL ASSE13 LESS CURRENT LIABILITJES: 876,088 917,762 ON-CURRENT ASSETSI{LIABILITIES): Employee Benefits 13 ,570,000 1,155,000 TOTAL I¥ET ASSETS 2.446.088 2.072,762 FUNDS: 16 15 14 2.415,307 12.700 18,081 2.029,564 25,117 18,081 Restricted fijnds End0v￿lent ￿ndS TOTAL FUNDS 16 2,446.088 2.072,762 For the financtal year ended 31 Mar¢h 2024 the cornpany was cntitlcd to exemptiot) from audit under section 477 of the Companies A¢1 2006 relating to ¥ll￿11 companies. No mernbers have requir￿ the ¢ompwJy to obtain all audit of its accounts for the year ended 31 March 2024 in acconlanc¢ with section 476 of the CtsTnpanies Act 2006. Th¢ dire¢tors icknowledge iheir rcsponsibility for CDrrtplying with th¢ requircrncnts of the Act with r¢sp¢¢t to accounting records ond for the PTeparntion of a¢¢ounts. These financial statements hav¢ been prepared in ￿¢0[dance with the provisiorks appli¢8bl¢ to companies subjeci to the Small companies, regime and ¢onstitutE thr annual accounts required by th¢ CA)mpanies Aci 2006 and are for ¢]￿￿]4[1sattOn to members of the eompany. ' BEHALF OF THE BOARD: Mr J Hixon Chair Ms C Ro¢h¢ Approved by the Manhgement Co]nmith¢ on 14Novanber 2024 The notes forni pth of th¢s¢ finan¢ial s¢atcmcnts Pa8e 8 The L%ed5 Society for Deaf & Blitid People (Re¥i5tered Thmmber." IK1146281) Nottj to tb¢ Finan¢i•l Stat¢m¢J)ts for tbe Year Ended 31 M*rek 2024 COMPANY INFORMATION Th¢ Leeds Society foT Deaf & Blind P¢opl¢ 1$ a cltatitable ¢ompaDy. limiled by 8uardntee, rc8iStered in England and Wales. The company's [¢￿stered number and registered office adthess Can be found on th¢ Q>mpany lthrmation page. ACCOUNTINC POtJciLs B•sls of Pr¢p•r*doD The fmancial slatements have been prepamj in 8ecordat)c¢ wilh Acc¥)unting zThl Reporting by CharRtics.' Statement of Reconmiended Prnctiee applicable to chariiies preparing thcir ￿¢0￿lts in ac¢ordan¢e with the Financial Reporting StaDdard applicable in the UK Republic of Ireland (FRS 102). the ChAriti¢s SORP IFRS 102), th¢ Companies Art 2(M)6 aDd th¢ Charities 2011. Th¢ ¢ompany Dwts th¢ d¢fiDition of a public bencfjt entity under FRS 102. Asscts and liabilities are initially re¢ogDised at histtirical cost or transactson value unless othetwise stated in th¢ r¢l¢vant a¢¢owitit)gpoli¢ynot¢($). Th¢ company h8S 7dvait¢d its¢lf of paragr¥ph 3(3) of Schedul¢ 4 of the CompaDi¢S Act fornjats to reflect the Special natt￿e of the company's acuvities. Prep*ratlon of the #¢¢0￿￿ts golng concern bis18 The charity his a nct 5UTplus shovm in the a¢¢ounts of £2,446,088, wbicb includes a surplus of £1 J70,OIX> on th¢ charity's (kfjned benefit pension scheme. Given this, the tn]stees be]ieve it 15 appropriate to PTepoTt the fillancial statements on the goin8 concern basis. Cornpany gnd Charlt•ble Status The Leeds Society for Deaf & Blind People is a company limited by guarante, the ]iabiltty of each member of the ¢ompany not ¢x¢¢eding £1. and g Charity r¢gJst¢r¢d und¢rth¢ Chatities Act. Fund A¢¢ouDthig Funds held by the charity are either.. Urtrestricted general fimds - these are fimds which ¢aJJ be US￿ in aC￿rdanCe with the chaTitsbl¢ obi¢¢ts at the discretion of the trustees. Restricted funds- these are funds that can only bc ￿ed for particular rc5triclcd pUT￿seS 5pecifi¢d by donors of th¢ funds. Endowment fuTrds- pcnnanfflt endoFmTht funds 4T¢ fuymls which generally be held indefmitely as lThstee5 do not have th¢ pow¢r to ci)EJv¢rt th¢ capital into income. Fwther ¢xpl3nation of the nature at)d purpose of cach fitnd is includcd in the notcs to the financial statements. Inct)nilllg Resources IncoTning iesources Compri￿ all incoming resources beco]nin8 ayailoble to th¢ company thring the y¢aT and include5 iDcome from all source5 re8ardles5 of its Source or of the puryo% to which it is ApplÈed. Wher¢ applicable income is re¢ogNised whwr all condiitons for r￿K1p1 h8ve been met and there is re&80nablc a&suTancc of receipi. AII income is re￿>rted gr055 with no 5etling off of costs or expenses. R¢sTrwrce$ Fxptnded All expendi￿re is a¢¢oullted for on an ￿n￿]6 basis afjd has b¢¢n ¢las$ifi¢d uryier h¢dings that &ggregat¢ all co619 related to specific ￿tivIti¢S or categories. Costs of charitsbl¢ adivities comprise atl ¢xpenditur¢ diTeCtIy relating to the objects of the ¢hatAty includillg Costs incurred tn supponitig ¢haritabl¢ activiti￿ ondpTojects. Governance costs comprise costs incurred ill eonnection wlth the administration of th¢ charity and compliaDce wirh Consiimtionai and st8ttJiory r¢ouir¢m¢nts. Where appropriate. costs aTe apportioned between charitable acttvities and governance expen4iDJYe by the on a Te8sot)abl¢ and ¢oDsistenr basis. Page 9 The Leed$ Sotiety for Deaf & Blind P¢oplt (Rryistered Dumber: IM1146281) Notes to the Fln*nci#l Statement5 for the YtAr Euded 31 M8r¢h 21124 ACCOUNTIYG POLtCIES (tontiDued) OperatlTrg Rentals w)der operating Ica5¢5 char8¢d to the profrt athd loss account on a Straight line basis LTrver the iod of the lease. T*ngibk Ftsed kntts Tangible fixed &sset5 are capttslised at ¢¢)st in¢luth'ng Any incidental expell5e5 of gcquisition. Depreciation is provided at the following alln￿1 Tatc& in order to write off each wet over its ¢stima*d useful life. Freehold properry - llot depreciated Fixtures and eqllipm¢nt - 2￿/￿ Ol) Cost lTrvestmeTht8 Investment assets art rev8lu¢d to tnltket value al Ihe Balance Sheet datc and any gains or loss¢s on revaluation art reported in th¢ 'othei rKogllised gain5 aDd1058e5' sectioD of the Statement of FiD2n¢ial AdiYitie$. Th¢ society pani¢ipates in 4 multiple employ¢r d¢fll)¢d benefit scb¢m¢, The W&41 Yorkshire Pension Fulld. Note 13 ¢xplaill5 how the scheme is presented witbin the fJnan¢ial stst¢m¢nts and the bases atsd assumptions u8ed in vo]uu￿ scheme ￿ets and liabilities. DONATIONS AND LEGACIES Unrestricted Restricted Endowment 31.03.2024 Funds Funds Funds Total Funds 31.03.2023 Total Funds Donations. apPc￿5 sThJ fundrn'8in8 events Legacies Grants r¢c¢iv¢d 944 9.805 15.oc 3,015 3,959 9,805 21,5(KTr 6.5(Kl 28,624 25,749 9.515 35,264 36,233 INVESTMENT INCOME AND INTEREST Unrestri¢t¢d Restri¢ted Endowrnerrt 31.03.2024 Funds Fund5 Fund8 Total Fut)ds 31.03.2023 Total Funds Dividends- UK equiues Int¢resl- UK fixed inierest Interest on bank and bw"Idthg society deposits 2.563 1.497 2,563 1.497 2,714 1.056 1,063 1,063 498 5,123 5.123 4268 INCOMING RESOURCES FROM CHARITABLK ACTIVITIES Unr¢3trid¢d R¢strict¢d Endowment 31.03.2024 Funds Funds FLTnds Ttrtsl Funds 31.03.2023 Totsl Funds Fee5 incomc 252,869 19.274 252,869 19,274 276,335 19,789 272.143 272.143 296,124 Pige 10 The L*edJ SDciety for Deaf & B11￿d People (Rtg15tered number: 00146281) Notes ¢0 the Flnan¢ial Staternettts for the Year EDded 31 March 2024 CIIARITABLE A￿￿TIEs Unrestricted Restricted Endtswment 31.03.2024 31.03.2023 Futsds Funds Toial Total Futsds Direct 5ervic¢s and grdnts payable Inditrft 8¢rriC¢s and supwjrt cost$ Inte￿retIng Servic¢ 113.252 250,695 21,932 135,184 250,695 137.002 238.094 363.947 21,932 385.879 375,096 GOVERNANCE COSTS Unrc5ttirtrd Restricl¢d Endowment 31.03.2024 31.03.2023 Funds Funds FuR(ts Total Funds Total Funds Salaries Prernis¢s Professional fees SuDdry expenses Depreciation 10,814 1,093 3.784 984 10.814 1,093 3.784 984 loo 10.705 3,492 857 16.775 16,775 16,074 TOTAL RESOURCES EXPENDED Stsff Depreciotion & FixDJres Rcvaluation Adjustment Other Costs 31.03.2024 Total 31.03.2023 Total ChaTitablc aciiviti Governance Exp¢¢ted Isurplusydeftcit on 5cIKme 223,003 10.814 3.889 l(K) 158.987 5.861 385,879 16.775 375,096 16.074 (54,(X)O) (s4,0￿) 18,000 31.03.2024 233.817 3,989 110,848 348,654 31.03.2ff23 259.482 6,822 142,866 409,170 Other costs.. Premises Repair5 Direct services and allowances Jndependent ex8min81ion fees Accountancy chofges Freelance Others Expected {SU￿1￿5ydCrK1t On S￿￿￿e 4ss¢t rehms 43,708 8,391 33.972 6,388 1.425 2,359 56,066 52,899 (54.IK>O) 1,365 2,127 48,787 32,227 18,IYM 110,848 142,866 Pag¢ 11 Tbe JAeth Soriety for Deaf & Bilnd People {Reglstered number: Oib146281) Notes to tlhe Flnlnelal Ststemellts for the Year EDded 31 Mareh 2024 TOTAL RESOUR￿ EXPENDED 31.03.2024 31.03.2023 The averdge n￿n￿rOf employees of the Sociery during ibe yearwas.. Mana8ernent Tnt¢rpretitig service Administration 31.03.2024 31.03.2023 Staff rts5ts include: Currthjt pension 5crvicc cost Ernploy¢Ts national insuran¢econtributions 24,640 16.034 42,950 17,463 No employec5 received emoluments in exceu of £60,(￿(2023-NOlle) TANGIBLE FIXED ASSETS Frtthold Fixtures and Propety EquipmcDI Totsts COST OR VALUATION At l April 2023 Additions DisJMTrSal 705,807 58,830 764.637 At 31 March 2024 705,807 58,830 764,637 DEPRECIATION: At l April 2023 Charge FOI year Disposal 52,429 3.989 52,429 3,989 At 31 March 2024 56.418 56.418 NET BOOK VALUE: At 31 March 2024 705,807 2.412 708,219 At 31 March 2023 705.807 6,401 712,208 P&ge 12 Th¢ Leeds Soci¢ty ffjr Deaf & Bllnd P¢ople (Rtgijtered Dymber: W)146281) to th¢ Fln4Dcial Statement l•r the Yur Ended 31 Mareh 2024 FIXED ASSET INVESTMENTS Muket value at l April 2023 Additions Disposa]s lQ5,565 28,039 140,101) Net ww¢alis¢d $UTplus/{defJcit} 1,294 Market V8lue at 31 March 2024 94,797 Histrorl¢￿ cast at 31 March 2W24 93.884 Investmettts held tompriae.. Equity iDvestments list¢d on recognised stock exchallge Debt and oth¢T fjxed incom¢ 5¢curiiies list¢d on re¢ognis¢d St￿k exch￿8¢ 62.312 32,485 94,797 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.03.2024 31.03.2023 Fees receiYabl¢ Other d¢btOT5 and Prepa￿¢￿ts 64,592 1.553 66,403 553 66.145 66.956 12. CREDITORS: AhYOUNTS FALLING I)UE WITHIN ONE YKAR 31.03.2W24 31.03.2023 Oth¢r ¢r¢ditors and a¢¢rnals Other tsxes and SOCI￿ SCCUTity 15,763 3,472 14,902 5.734 19235 20,636 13. DEFINED BENEFIT PENSION SCHEME lJJ¢rodu¢tion The dtsclosures tbelow] relatc to the fundcd ]iabiliti¢s Within th¢ W¢5t Yorkshire P¢n$ion Fu￿1 (the "Fwid") which is part of ihe Local Gov¢rnm¢nt Pension Sch¢me {the "LGPS'I land certain relatsd Unfi￿mIed liabiliti&8 whiGh have been 5epaTaiety di5¢1osed). The LGPS is a ￿lld¢d d¢fin¢d benefit plat) with benefits earned up to 31 Ma￿h 2014 bcing linked to flnal salary. Bcnefits after 31 March 2014 are based on I Career Aver8ge Revolue41 Earnings scheme. Detsils of the benefjts earned ovrr the period covcreil by this disclosure are sel out iu 'The Local Government Pension S¢h¢me RegUl￿lons 2013. (as aEnelld¢dl a￿d 'The LocaI Governmeni PetL%ion S¢heme (Transitional Provisions. Savings and Amendment) Regulations 2014. (as an￿ed}. Page 13 The l*od$ S￿Iety for De*f & Blind People (Registered number: IM1146281 Note8 to the Fln*Dc5*1 StstemeTJts lor ¢h¢ Yur EDded 31 MAreh 21124 13. DEFINED BENEFIT PENSIOL¥ SCHEME CODtinued FuTrdlng / Govern#Ne Arrangements of the LGPS The fi￿ded noture of the I￿Ps rryuires participating employ¢rs aDd th¢ir ¢nwloye¢8 to p&y contributiot]s into the ¢ilculaled at a level inlendcd to bal4DCC thc pcnsion liabilities with investment assets. Ittforniatio￿ on the framework for ca]¢ulatin8 contributions to b¢ paid is set out in 'Th¢ Local Govantnent Pttssion Scheme R¢gulations 2013. and the Fund'5 FuTHling Stral¢gy Statrn]ent. The lasl actuarial va]uation was at 31 March 2022 al￿ the fjontribution5 to bc paid until 31 March 2026 resulting from that Val￿atIon are set out in the Fund'$ Rat¢s and Adjusting Certificate. The Fund Adrninistering Authority, City of Ilradford Metropolitat) Districi Council, is responsible for the governattce of the Fund. As8ets The assets ailocat¢d to the Employer tll the Fvnd are ll￿10￿41 and arc a5SUtn¢d to be invcstcd ID ]ine with the iuvestments of the Fund for the pury05es of CAI￿lating the return over the accouniing period. The Fund holds a significant PTOPOrtion of its ￿ets itt liquid investmettis. As a consequence there will be no signifjcant restriction on rea]ising assets if & large payllLent is r&]U]r￿ to be paid from the Fund in re]8tion to an employer's liabilitie The 855ets are inv¢5ted in a diversifi¢d Spread of invesknents and the opproximaie split of assets for the Fu￿d as a whole Ibased on data supplied by the Administering Authority) is shown in the dis¢losures. The Fund Ath)Jinistering Authority may invest a snull proptsrtion of the Fund's tnvostmcnts in thc a&8cts of Some of th¢ ¢mployers patii¢ipating in the Fut￿ if it folli]5 Part of their balanced investment strategy. Rl$ks wso¢i*¢ed with the Fund In rekntlon to aceountlng knet Yoiatility The liabilities us¢d for a¢¢owititJg pwses are cakulated using a di$￿￿tIt rate set witb reference to COryOTgte bond yi¢lds at the a¢countiTLg date. If 855ets undcrperfozjn tbis yield, this will create a deficit rn the accounts. Th¢ Fund bold5 a significant pIoportion of growxb assets which, while expeeted to oulperform cozporate è*)n(ts in the long temi. creates volatility and risk in the short terni in relatiorl to the accout)ting fxgures. Change8 ITh Bond Yield A decrease ll) ci>rtx>rate bond yi¢lds will in¢r¢as¢ th¢ value pl*Ged on th¢ liabilitirs for accounting purpos¢5 althoug￿ this WAll b¢ nwgitta]ly offsel by the increase in the a¥set5 115 a result (to the extent the Fll[￿ invests in corporale Ix)ndsl. IDfi*tlon Risk Thc I￿ajOrity of the pension liabilitics are linked to cithcr PAY orprice inflatiot). Highw Intlatio￿ exp¢¢t41ions will lead to a hisher liabi]ity value. Th¢ assets are llot p¢rfe¢tly ¢orr¢lat¢d with infiation n*aniDg that it1￿Ca5¢ iD inflation will inueas¢ th¢ def￿1t. Ufe expectaney The majority of the Fund's obligations to provide ben¢fits foT the lif¢ of th¢ memb¢r following TetircmenL so incr¢ases in life expectancy Wlll r¢$uli in an in¢r¢as¢ in the liabilili¢s. Exiting ernploytr Employers wht¢h lehve the Fund {or thcir 8uarantor) may have lo makc an cxit payment to rncet any shortfall in assets their pensio* liabilitie5. If the ernployer (or guarantor) is not abl¢ to me¢t thi$ ¢xit payment the liability may in certain circuanstallccs fall on othei employers in the Fund. Furth¢r the as$ets &1 extl in r¢spect of 'oryJhan liabiliti¢s' rnay, in retr05P¢Ct, noi be $uffici¢nl to Jne¢t th¢ habititi¢s. This risk may fall on otheT crnploycts. '0* liabilitics, are CUTrcntly a small pmportion of the overdll liabilities in th¢ Futjd. 13.1 The anwts rKOgDiS￿ in the balance sheei are a$ follow5.. 31.032024 31.032023 Present valu¢ of benefit obligations Realisable value of plan a55ets (4.476.0￿1} 6,046,000 (4,065,000) 5,820,000 Net ass¢1 1.570.OC 1,155.000 Page 14 The l*ed$ Sodety for De￿& Bllpd Ptoplt (Regkntered number: 00146281) Notrs ¢0 the Flngncknl Statements for the year eided JI March 21)24 13. DEFDIED BEIYEFIT PENSION SCHEME t•nt5nMed 13.2 Tbe amowits ￿Ognised in the stslement of fm8ncial ¥ctiviti¢5 aTe as follows.. 31.03.2024 31.03.2023 cU￿ent servi¢¢ ¢ost Past 5crvicc rtsst Interest ￿$t Exrrtted refurn Ort plan a&qets 17,000 36.(KKJ 214,000 (268.0(M)} 175,000 I157,{K￿) N¢t r¢sources expejmled bcforc other reco8Dised gain5 a]td10ss¢$ Actuatial18ains) (37,000) {378,000) 54,000 (1,896.000) Net (credit) (415,0(Xl) (1.842.000) 13.3 Chan8¢5 in th¢ pr¢4¢nt Yalue of the defintyj b¢nefii obligation are as follows: 31.03.2024 31.03.2023 o￿nittg defined benefit obligation Service c05t MenthI contributions tnt¢rest ¢osl Benefits paid Past service cost AcluaIial (gains) 4.665.OIK) 17.000 5.0(rf) 214,000 (246,000} 6.550.000 36,(KlO 5,000 175,O¢JO (135,000) (179,0(Ki) (1.966.(th) Closin8 (kfjned benefit obbgation 4,476,(NJ) 4.665,0 13.4 C.hang¢8 i* the f8irvalue of plan 8ssets arc as follow$'. 31.032024 31.03.2023 Opening realisable value of plan a55cts Exp¢¢ted return on plan a&scts Actharial gainsl(losscs) Benefits ￿ld Employer contribution Member contiibutiOD 5,820,000 268,OlXI 199,000 (246.000) 5.863,000 157,0(K> (70,0￿) (135.0(M)) 5.000 5.0 Closjng realisable vahR of plan assets 6,046.000 5,820,0( 13.5 Analysis of realisable value of plw) awts b¢tweeD &8set catC8ories is as follows.. 31.03.2024 31.03.2023 Equilies Govcrnment bonds CorpoTate bonds 4.800,000 514,IK)O 254,¢N>O 169,( 109.000 200.000 4.732.IJINI 349.0(K 250,0( 192,0 169,0 128,OiK) Cashlliquidity Other Total 6.046,0(Xl 5,820,IM)O Page 15 The Leeth Soelety ftht De*f & BIiDd Ptople (Reglstrred number: (10146281) Notes to the FiDaD¢i41 Ststements fw tb¢ Year Ended 31 Ma￿h 21124 13. DEFINED BEI¥EFIT PEL¥SION SCHEME toDtiDved 13.6 The acth]a] rets￿n on plan assets is as follows: 31.03.2024 31.03.2023 Acthal retum on plan assets 467.0( 87,00(1 13.7 Amounts for the cumt peri(Ml alld previous p¢rtod5 are as follows: 31.03.2024 31.03.2023 Present value of fimd¢4J obligationg Reajisabk value of plan assets {4.476.0￿)> 6,046.000 (4.665.(KlO) 5,820,000 Surplwlldcficit) I,S7O,0￿* 1,155,1 13.8 Princip81 actuarial asSUll]ptions at the balan¢¢ shed dale (expressed 8$ weightrd aYera¥es).' 31.03.2024 31.03.2023 DiscoLmt ratc Rate of salary incre96¢ Rate of inll81i0ll Rate of pension increase Rate of pension accounts revaknation 4.80° 3.850/0 2.60°A 2.60?/0 2.600A 4.700A 3.95OA 2.70D/fj 2.70Vo 2.70Y. 14. ENDOWMENT FUNDS Balance April 2023 In¢omin8 Resources Outgoing Balanee Rcsources 31 March 2024 Pem)at)cnt Endowments: F W Spruce Charity Fund 18,081 18,081 This rqjresents a p¢mhanent ¢ndowrn¢ni which tnust be invested in tn¥t for that ¢haTity. Income derived from the relevant assets is avAilablc for the general purwjses of the Society. IS. RESTRlaED FUNDS Balanee Incoming l April 2023 Rewurces Out8oin8 Re$ouT¢es Bal8nce 31 March 2024 W Heath Tn￿t 10,508 3.536 6.972 629 719 380 4,000 629 2,011 375 4,000 2,500 Gard¢n Fund GroutLdwork5 UK Power to Chan8e R