REGISTERED COMPANY NUMBER: 00986407 (England and Wales) REGISTERED CHARITY NUMBER: 262119 Report of the Trustees and Financial Statements for the Year Ended 31 Docember 2023 BLINDAID BLINDAIO Contents of the Financial Statements for the Year Ended 31 December 2023 Pago Report of the Trustees 1 10 21 Independent Examiner's Report 22 Statement of Financial Activities 23 Balance Sheet 24 10 25 Cash Flow Ststement 26 Notes to the Cash Flow Statement 27 Notes to the Financial Staternents 28 10 39 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The Iruslees have adopted the provisions of Accounting and Reporting by Charities." Statement of Recommended Pmctice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. MISSION STATEMENT As London's oldest sight loss charity, BlindAid works to improve quality of life and promotes Independen￿ for blind and visually impaired Londoners. We provide individualised practical and emotional support to reduce the social isolation that many people living with sight loss can experience. OBJECTIVES AND ACTIVITIES Objectives The charity seeks to 811eviate loneliness and social isolation affecting sight impaired and severely sight impaired people. 11 aims lo empower service users lo encourage and support independent living. The charity also supports people suffering the emotional consequences of visual impairment. Setvices are provided free of charge. The charity's strategic objectives for 2023 we￿". To actively seek and recruit more new directors to complete the refresh of the charity's talent on the board of trustees. To implement the charity's funding strategy to focus on attaining secure future sources of external income to allow the continuation and expansion of its activities. To continue to evolve charity's Community Sight Support Service for the support blind and visually impaired people with a meaningful outreach service that listens to and meets the needs of ils beneficiaries. To continue the Community Project Hub al Camden Living centre, and some popular Online Community Classes and Programmes. To continue to evolve the charity's ability lo identify and help those who can benefit from its services in the most efficienveffective ways. To develop the funding streams and infraslruclure, as well as the charity's capacity to achieve these aims. Public benefit The activities to achieve the charity's objectives are all carried out for the public benefit as described by the Charity Commission. The beneficiaries of the Charity are members of the public who are in need because of health, disability or other problems arising from visual impairment and the activities of the charity seek to ensure these people can be supported by better services. The charity sets out in this report the charitable public benefit of its aclivilies. The Board members have complied with the duly in section 17 of the Charities Act 2011 to have due regard to public benefit guidan￿ published by the Charity Commission. Page 1 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 OBJECTIVES AND ACTIVITIES Service Delivery- BlindAid delivers service for people who are sight impaired or severely sight impaired people aged 18+ however, the majority profile of our beneficiaries are 50+" with a high percentage of those people also having more complex health conditions in addition lo their sight impairment. For these reasons BlindAid reaches a mostly hidden community of blind and visually impaired people, who are in need our help and are typically less independently mobile people when they are Initially referred to our charity. BlindAid's Sight Support Pathway: Our charity offers three core services, which combined together provide vital support not offered by other sight loss eharities. Our Sight Support Pathway therefore offers maximum support that often service users describe to be ' life changing, during feedback. Each individual setvice which may be used independently. There is greater detail on these services in the achievements section of this report. Our service users may be referred lo the charity when they have just been diagnosed, or registered with sight loss, or al a later time when their sight has deteriorated. Engaging with our Sight Support Service means they have an appointed Sight Support Worker with whom they can begin to build a relationship of trust. Sight loss is a unique and individual journey, and we work alongside our services users at their pa￿. In lime when people feel ready, and if they choose lo, they may be referred to our Community Project lo enrol for a couple of classes. When our service users have completed their courses and 'graduale' from the project, they then have an opportunity lo be referred to our Share London Project. They are then be matched with a volunteer with similar interests, so they can enjoy social outings together in and around London. This capitalises on and maximises setvice users new found independence and fosters a new social life in the Capital. A recent analysis of BlindAid's bespoke database has evidenced that on average where service users access our Sight Support Service, as well as our Community Project, and then go on to be matched with a like minded Volunteer lo experience our purely social Share London Volunteer Project, they are provided with a holistic and beneficial development pathway that tangibly improves Independen￿ and wellbeing and helps to encourage many of our beneficiaries lo enjoy more fulfilled and self-suslaining lives. By investing in our services our funders play a vital role in empowering Individuals to lead richer, more empowered lives, ultimately contributing to stronger eommunilies and a18Sting positive impact on the beneficiaries we serve. Community Sight Support Service: Our core service offers regular outreach visits for isolated service users in their own homes. Our hybrid Sight Support Service now provides vital visits from our Sight Support Workers ISSWS) for beneficiaries across three days each week, on Tuesdays, Wednesdays, and Thursdays with SSWS, Iravelling via public transport or walking in belMeen visits. On Mondays and Fridays weekly, SSWS work remotely from home, providing a telephone support service for isolated service users. BlindAid Community Project.. In 2021 The City Bridge Trust awarded BlindAid funding to provide a Community Project hub centrally based al near Kings Cross Station in Camden for three years. The initial start of the project was delayed due to C-19 pandemic early in 2021 and was launched in April 2022 and so will continue lo operate through until 2025. We were invited to additionally apply for extension funding for this valuable project and were awarded funding lo continue the project through until end of Q1 2026. The project offers specifically designed classes to allow our service users lo either learn new skills or re-learn lost skills and classes includes IT." beginners and intermediate, Healthy Eating & Safe Cooking, Art, Yoga and Creative Writing. All classes empower benefi'ciaries toward greater independence in a supportive, pro-active ambiance, fostering their ability lo self-suslain, with greater confidence. Page 2 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 OBJECTIVES AND ACTIVITIES Share London Project: This project was developed to complete BlindAid's Sight Support Pathway. 11 was initially funded by Big Lottery Reaching Communities in December 2019, BlindAid was awarded circa £100K for a three year project. Due to the 'currency of kindness, that was fostered during the C-19 pandemic, BlindAid's target to recruivtrainlmatch and deploy 240 new volunteers across the three years of the project, was fully met one year and three months ahead of our largel. We are now proud to be sponsored by the Vision Foundation from 2023 through until 2025 because our vibrant Share London Project closely aligns with The Vision Foundation's aims. During 2022 the charity determined that BlindAid could no longer plan to sustain the cost of pmviding the Sight Support SeNice across 12 inner London Boroughs from ils reserves for the longer term future, and to better meet the future fundraising challenge ahead, our then Iruslees determined that a new role be created, that of Head of Fundraising. Management launched an immediate campaign and the role was filled by 01.11.22. Al the last Board meeting of 2022 on 29.11.2022 trustees ratified a proposal lo lease out BlindAid's Head Office in Bermondsey Street SE1 3UB to provide a long term sustainable income for the charity. Therefore, in January 2023, three offers and two detailed business proposals were reviewed by trustees and the best offer for the charity was accepted. Poctical work then began to pack the charity's records held at Lantem House to prepare them for archiving, and all other arrangements were made to clear the charity's propety which was achieved by the end of Q12023. Only 6 staff roles were permanently based at Lantem House. During the pandemic prolonged lockdowns all these stsff had worked very successfully from home in 2020 and 2021. This also informedlsupported the overall decision lo lease the building because it was evidenced during this most lesling of times, there had been no dip in motivation and in fact there had been several advantages. The larger cohort of BlindAid's team being our Sight Support Worker's, who have a￿ayS been remote workers. SSWS only used to visit the office once every fortnight to meet with their team leader for supervision meetings, however, these loo had moved lo telephone supervisions during the pandemic, with no real negatives to be noted, and a considerable benefit in lime and travel costs saving for the charity. One role was made redundant in February 2023, this being the role of the Office Manager because the office was to be leased. The legal work lo lease our property was conducted concurrently, together with additional essential negotiations involving the other shareholders who similarly owned properties in Lantern House. BlindAid is a shareholder in Lantem House Management Limited (Private Ltd Co No.. 036884431. The propety is an old building, last converted in 1989 when the building was wholly renovated.. the whole property comprises. two commercial units, one of which is own by BlindAid, and a propety known as The Livemlork Unit, together, these three units make up the ground floor, in addition there are 7 apartments over another two floors. BlindAid naturally informed all shareholders al Lantern House in November 2022 of the board's ratification and the charity's intention to lease 102 Bermondsey Street, this being the unil purchased on behalf of the charity in 1990. The legal work was completed and the lease finally signed on 21.09.2023. The new tenant then began work to refil the unit and the property was opened as a restaurant on 21.08.2024. The charity's property was formally valued by a qualified RICS surveyor in 2023 which evidenced that the rental agreement reached with our tenant was in keeping with the unique style and location of the propety within the heart of the conservation area of Bermondsey Street. Page 3 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 OBJECTIVES AND ACTIVITIES Our service users, needs, naturally vary and are as unique as they are themselves. A percentage of our setvice users also have more complex needs, and we deliver individualised support accordingly. Our SSWS provide a range of assistance trom emotional support with their sight loss journey, bul also very practical help to encourage service users lo engage with NHS appointments, and support with more Information on eye eondilionsleye drops, as well as with personal admin, reading post and other admin support lo ensure a smooth homelife can be maintained. They also do things like check use by dales in the fridge, and often find 'losl' items indoors,. often key items are simply dropped on the floor and cannot be found again easily by a service user. Our SSWS often are the first people to be alerted lo either additional health or safeguarding issues, which can then be discussed and where appropriate reported. The initial design of the Hybrid Sight Support Service in operation today, was funded by Big Lottery Reaching Communities, who awarded BlindAid £100K in 2020 to completely reimagine our core service. The development was achieved, as always in consultation with our Servi￿ users., and Importantly in collaboration with our staff team who deliver the service. We included RNIB'S lalesl data when reflecting upon how to reach more people across our area of operation. Latest RNIB statistics findings related to visual impairment and sight loss are.. Over 2 million people across the UK are living with sight loss Of those 2 million people - only 340,000 people are registered blind or Vl in the UK Nearly 800/0 are 65 or older, c600/0 are 75+ plus, BlindAid is the only charity in London delivering outreach support for blind and Vl people. 480/0 of all adult sight loss is allributable lo Age Related Macular Degeneration People from ￿rtain ethnic minority groups are at greater risk of some of the leading caLJses of sight loss. The 12 inner London Boroughs are very cosmopolitan and therefore so too is the demographic makeup of the profile of BlindAid service user In 2013 there were an estimated 1.93 million people living with sight loss in the UK By 2050 the number of people living with sight loss Is likely lo grow to 4 million We organised 14 online Focus Groups and each group was made up of service users from all 12 inner London Boroughs, each group consisted of between 8 and 20 people and each group were asked a detsiled selection of questions about our previous, current, and also wished for future services. In total we consulted with and listen carefully to in excess of 250+ beneficiaries. Our service users, responses were honest, illuminating, and infomalive. Most importantly by working together we defined a new way of operating more flexibly which has allowed us to reach more people than ever. Our hybrid service facilitates leaner, more agile working methods that allow us lo effectively, dial up or down, our outreach community work, which benefits us because we can now respond proactively by being agile and adapting our service to continue to meet service users, needs should there be any futuo pandemic or any other major service disruption. The bright ideas of both service users, and our staff team who deliver the service relating lo how our Servi￿ could be re4esigned were collated and are now built into our new service model, which in the subsequent years, has been proven that Il is a future asset for BlindAid. Our hybrid Servi￿ model allows us to reach a far greater number of beneficiaries across our area of operation. Sight Support Workers are now each working with an average of c70 people at any one lime. We attained this uplift in support by only visiting in the community the most in need, isolated service users 3 days each week, and by supporting an additional number of people by providing telephone support and guidance on two days each week. The whole team work each Monday and Friday from home and are providing outreach in the community on Tuesdayslwednesdays and Thursdays every week. Page 4 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 ACHIEVEMENT AND PERFORMANCE Charitable Activities and Achievements Trustee Recruitment During 2023: Trustee Recruitment.. In 2022 8lindAid senior management actively invested much lime in recruiting a whole board of new trustees. In 2021 we had recruited one new trustee, by the end of 2022 we had apFioinled 5 new trustees, and we completed the refresh of the talent and skills on our Board of trustees in 2023 by appointing a further 3 Iruslees. There was considerable commitment to time investment made by senior management to review and reach out lo many potential candidates through 2022, the charity is now reaping the rewards of their undeniable investment in BlindAid's cause and their integral involvement in the design of the future of the charity. Team RecruitmenVResourcing in 2023: During 2023 we experienced significant staff turnover, in what al the beginning of the year was a lean recruitment marketplace, however, the candidate pool expanded notably during the second six months of the year, and we were able lo secure several excellent quality new employees. During 2023 we had 1 redundancy, and 5 leavers, and also recruited 7 new staff. Total staff numbers were reduced in the management team, with the largest balance of employees being in service user facing roles, the staff turnover demanded a substsntive time investment from senior management. Fundralslng: Good progress was made during 2023 with SW London ICB as BlindAid won external funding from the NHS to fully fund our Sight Support Worker role in Wandsworth. SW London were impressed with the charity's impact reporting and so we were able to secure extra funding for a second SSW role in Wandsworth, which we recruited for immediately. therefore, NHS funding continLJes through until 2025 in Wandsworth. We also secured funding from NHS North West London for our Sight Support Service. Other funding for the year was secured for the year for our core service included, Soulhwark Charities, the Weinstock Fund, Charles French, walla￿ Collection, John R Murray, Elizabeth Bennett, The Postcode Lottery and one other funder who wishes to remain anonymous. Having appointed a new Head of Fundoising al the end of 2022, expectations for more extensive income traction in 2023 did not malerialise as anticipated, and the appointee resigned in Dec 2023. Senior management retain a fundraising brief, and we also fortunately have a volunteer who has extensive experience in fundraising. and also a freelance fundraiser has been appointed for the foreseeable future. Generically, all charities are experiencing a much tougher financial climate as the UK has emerged from both Brexit and the C-19 pandemic, which naturally impacts philanthropy and fundraising has proved lo be a challenging arena. BlindAid Core SeNices: Community Sight Support Service: AII SSWS are carefully selected during recruitment Into the charity, are all vocationally trained. SSWS, and other relevant roles all hold current enhanced, Disclosure and Barring Service IDBSI certification, which are renewable every 3 years. This is because we reach a particularly isolated, hidden community of people. We believe our setvice is unique and meets an clearly evidenced, otherwise unmel need in society. No other Sight Loss Charity in London provides outreach support using employedlsupervised staff who provide regular visits for beneficiaries who need and receive our service free of charge, and so BlindAid continues to be a vital source of support. The core activity of the charity for over 189 years has been to visit predominantly isolated, blind, and visually impaired people residing in the twelve inner London boroughs in their own homes. Page 5 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Pre-Pandemic each of BlindAid's Sight Support Workers {SSWsl, were responsible for supporting approximately c45-50 service users, visiting typically every fortnight. The frequency of visits may be varied lo meet Individual needs. SSWS typically focus on a particular borough for ease of logistics bul will also visit individuals in other boroughs to optimise coverage, where Capacity permits. Since the introduction of our Hybrid Service our SSWS support around 70 service users each, visiting people in Most need and regularly calling others lo provide telephone support and guidance, SSWS are able to make urgent ad hoc visits when essential. Service users are visited al home, in sheltered accommodation or residentiallnursing homes. BlindAid's ethos is to treat each Servi￿ user as an individual, prioritising people who are isolated and living alone, and delivering support as needed and valued. Most service users have been diagnosed with sight loss in adullhood,. this can be Iraumalic, and the individual period of adjuslmenl can vary enormously depending upon personal resilien￿. Referrals for our support are received from various sources, specialist sensory teams, local authorities, social work and community mental health teams, hospital eye clinics, and GPS, as well as from people who experience loss of vision themselves lor their friends or family). An initial assessment visit is made to understand first hand a person's individual needs, coping abilities and to determine whether the charity can be of assistance to meet those needs. During a visit, SSWS will offer company and conversation lo help alleviate loneliness and reduce isolation., practical help and guidance will also be offered where needed, appropriate and welcomed. The SSW will also encoLJrage participation in, and signpost to both BlindAid Community & Online Projects and other suitable local social activities. Many service users who are extremely isolated have been visited consistently over many years. In most instances, the SSW will be one of the few social contacts people have. Outreach for isolated people in the community is therefore extremely important lo many service users and good relationships of trust are usually established over time. Our Sight Support Service provides greater consistency, reliability, and a high stsndard of quality support. The quality of setvice is regularfy monitored through fortnightly supervision meetings, where shared decision may be taken about Individual service user circumstances that may be complex. The standard of support is also monitored through key performance indicators, and annual Focus Groups with service users conducted by senior management, where feedback can be shared with SSWS afterwards. During 2023 the charity continued both purposefully and successfully to increase in the charity's reach. We also continued to inlerrogale and both learn and track trends in our new hybrid service as the data on the new operating methods has become more substantial it has become easier to implement agile change where needed. The Hybrid Service has oplimised visiting those with priority needs, and we have learned that a key factor in service delivery is to 'mindfully reassess, all service users regularly, agreeing with them their own needs for continued visits at home. In this way we have redU￿d the number of days spent visiting in the community each week, whilst In addition, maintained support via the telephone for beneficiaries for whom a clear identified need is established, that a call should be made by an experienced SSW. A longer term aim for these service users is that we support them to realise self-sustaining independence eventually, then where possible and with their agreement we may match them with a suitable Share London volunteer for regular social outings, or social telephone calls. It should also be noted that there has always been a percentage of service users for whom making a return to enjoying a full social life is not possible due to mobility, or complex health issues, and for these people that charity has always made a commitment to continue lo visit for those people who have no other family or friends. Throughout 2023, we continued to review all service processes to ensure we are maximising key milestone re-assessments to reassure ourselves we are delivering our service consciously. We continue lo review all setvice processes to optimise lean activity. Page 6 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 For comparison.. The onset of the C-19 Pandemic brought about radical change for our charity for the first lime in our history, because it caused a radical transformation in how our charity works alongside our blind and visually impaired community. The entity known today as BlindAid has enjoyed a long and rich history that has seen il emerge from several significant and challenging historical times in London's history and also included merging with other 19th and 20th century charities, and we have been known by al least 3 other names. For 186 years and up until March 2D20 our Sight Support Service worked with our blind and visually impaired residents across 12 inner London Boroughs by visiting them in their own homes only. By 2019 our team of SSWS tolalled 19 an all-time high.. with just over 13,000 individual visits made in that year. Each SSW was supporting between c48-50 service users regularly with fortnightly visits. This was a high capacity standard we maintained across our Bomughs for this and a few prior years. Due to the uncertain financial climate prevailing then in the UK il was agreed that the charity would halt recruitment and as well as replacement of natural attrition of employees. In 2019 one full lime SSW retired. By the end of 2022, 8 further 2 part time SSWS retired, and 1 full time SSW resigned. Practically, this provided c200 beneficiaries who needed to be reallocaledlabsorbed by the remaining team of SSWS. This was successfully achieved by management, without the need lo withdraw support from any service users fortunately. Sight Support Service Achievements 2023 Visiting in all Boroughs.. 5,211 visits were made to service users, an increase of 23'/o from 202214,2361 Support Calls. 15,540 regular support calls by Sws". an overall decrease of 260A on 2022 This was an anticipated result of increasing the volume of visits across the year. NB.. In 2023 though.. the overall number of regular visits for service users were less than would have been expected due to 3 SSWS unexpectedly being on long term sick leave during the year.. due lo awidenl111 and illness121. In addition, recruitmentlreappoinlment for leavers roles look longer than usual in the first half of the year, however, this substantially picked up during the second 6 months of 2023. 3,787 instances of information provision, a decrease of 120/012022 - 4,3021 An expected reduction above as the level of information needed about covid191vaccinalions etc subsided. 1,974 referrals made to other appropriate local organisations.. a 100/0 decrease from 202212,2151 841 referrals lo social services (in agreement with service users) a 32°/0 increase on 202216371 826 instances of supporting service users to accesslengage with NHS primary care services 786 contacts with housing depts.lassociations for service users for ￿paIrs." an increase of 250/0 187 new referrals were taken for the Sight Support Pathway, a 90/0 decrease from 202212071 1,177 people supported on Sight Support Service.. a 7D/o increase12022 - 1,0991 1,353 people accessed all BlindAid ServI￿s.. a 1.￿ uplift12022 - 1,3371 Community Project Background: The launch of BlindAid's Community Projects in 2013 was ratified by trustees initially to trial the potential with the pilot Project in Southwark firstly, and secondly when it the pilot proved successful and beneficial for service users, then as a vehicle to contribute to the lives of beneficiaries, whilst spending down some of the charity's reserves, in order lo better place the charity's appeal for funders of these aclivilies. In March 2020, the charity's popular and well known network of 3 long established Community Projects were all closed due lo the C-19 pandemic. We had gathered 8 years, experience in operating our 3 individual community hub projects each offering a variety of very popular classes that provided 16 week long terms of classes, 3 times each year al each venue. Annually, BlindAid were offering places for beneficiaries, with any vacancies being easily filled as they was always a waiting Iisl of service users to take the spaces on all our free courses. Over 8 years BlindAid offered classes to Circa 1,400 blind and visually impaired people who personally reaped many individual benefits from their attendance. Page 7 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Due lo the financial climate in the UK in 2020 Iruslees agreed the charity could no longer afford lo continue to invest ils reserves lo solely fund these valuable projects going forward. Whilst al the same time recognising that our Projects Hubs are indeed a vital stage in regaining and strengthening service users personal resilienee and confidence to get out into society, and to developlm8intain self-suffi'cient independence. They also offer critical social contact with the ability lo establish a network of friends and additional peer support. Unfortunately, they are expensive to operate, each costing be￿een £30,000 to £50,000 per annum. IThe financial variance is the difference between being offered free space or needing lo rent space from local aLJlhoritiesl. One of the most significant learnings taken from the eight years we ran 3 community Project Hubs was. each Hub was oversubscribed, always running al full capacity. The number of blind and visually impaired people needing and wanting to attend such projects oubNeighed our capacity each year. In collaboration and consultation with our beneficiaries, the curriculum of courses offered has always included healthy eating and safw)oking ski115,' yoga or other exercise classes", artlsculplure., creative writing and importantly IT training at both beginner and intermediate levels. Participants are encouraged lo attend two classes, for a minimum of one full day each week. There is a strong social ambian￿ during the activities to encourage participants lo get lo know each other both during classes and over lunch. 11 is an Intended outcome that people form independent peer support groups and continue to meet and communicate after their courses were completed. BlindAid Community projects are open lo BlindAid Servi￿ users, but also welcome other people with sight loss who may be referred by local aulhorilies, NHS, or other local services or charities, and also people living in pan-London BoroLJghs, if they are able to gel to the project, and where we are able to accommodate. BlindAid has always encouraged attendees to travel independently to Project Hubs and has provided sighted guide support, from travel points to the project venues. We have also consistently worked in partnership with Dial-a-Ride for many years, lo provide transport where independent travel is not possible. All BlindAid Community based Projects were managed by a project manager and supetvised day to day by a project coordinator based al each of the community venues. Classes were delivered by qualified subject tutors together with several dedicated volunteers who were on hand to assist service users where needed. Some of the charity's volunteers are themselves visually Impaired people who. having joined the projects as service users, have chosen to return as volunteers lo offer peer support for newcomers at the project Hubs subsequently. The charity has a proactive framework to facilitate listening to service users and actively makes time to encourage and listen to service users. voices regularly when they are attending Community Projects. Three framed purposeful engagements with service users allows them lo offer feedback and the charity a balance of measurement for the progress for all stakeholders are held in each term. servi￿ Users aspirations and abilities are noted during a pre-programme assessment., benchmarked again midterm and again finally before they leave the project. Service users, opinions. therefore, are fed into BlindAid's planning, preparation and inform the final choice of classes offered, helping the charity lo remain relevant and meet the needs of the people attending as closely as possible. Since the inception of our first Community Project, we have received extensive feedback from service users highlighting the Iransformalive effects of our classes. Participation in these classes has proven lo enhance self-esteem and promote independence, critical components In the journey toward self-actualisation. Over the past eight years, we have compiled comprehensive impact reports that clearly demonstrate the progress and achievements of our Community Project concept and initiatives. This wealth of experien￿ positions us to effectively continue and expand our Community Projects, ensuring that we remain responsive lo the needs of those we serve and dedicated to fostering positive change in our community. The charity will continue to seek external funding lo offer MO￿ Community Projects. Community Proje¢t- Camden 2022-2026.. This project forms part of BlindAid's Sight Support Pathway. This Project is fully externally funded by The City Bridge Trust- until 2026". Page 8 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Late in 2021 BlindAid successfully applied for a grant lo fund one centrally based Community Project. We were successful, and funding was awarded due lo the composition of our curriculum, together with our operational experience. The City Bridge Trust awarded BlindAid £81,300 sufficient to fund our project for three years. Funding was awarded in late 2021, howevèr, the project could not commence until 22 April 2022, due lo another lockdown al the beginning of 2021. The project is located at The Living Centre which is a community hub located in the Francis Crick Institute in Oussulton Street NW1 1DF, close to Kings Cross Station. BlindAid is enormously grateful to The City Bridge Fund for their financial support for this vital Camden Community Project, and we are also grateful to the team at The Living Centre for hosting our project free of charge. BlindAid appreciates the external acknowledgment of the intrinsic value our Community Projects offer blind and visually impaired Londoners. We believe both these organisalions recognise the need for this tangible support for our beneficiaries is a vital part of our Sight Support Pathway. Future Funding: BlindAid has now also secured extension funding from The City Bridge Trust for a further year to April 2026. 2023 Outcomes: A total of 60 Servi￿ users engaged with our Camden Community Project in 2023. 33 attended 2 classes pd over 16 weeks in IT, Safe CookinglHeallhy Eating, Creative Writing, or Yoga. 18 people attended accessible tech classes. Places al these sessions are highly sought after. we have one tutor one day per week and the maximum number that could be accommodated across the year were offered space to absorb this vital training for life. BlindAid would welcome third p8ty involvement lo expand these sessions for all service users across our 12 inner London Boroughs. 9 Servi￿ users attended a weekly art class with our talented art tutor. Best feedback 2023 from a service user: '1 love every minute of it, I like the people, we are one group and have merged in nicely. I love the activities, it has not only helped my mental and physical health, bul l am also just not as shy as l used to be. I was housebound for 20 years, and it was so hard coming out and meeting new people - now- when l am here - don't W8nt lo go homel" Share London Project: This project forms the final part of BlindAid's Sight Support Pathway. This valuable Project is fully externally funded by The Vision Foundation until 2025.. From the initial engagement with a Sight Support Worker, and then ￿nefIttIng from participation in classes at our Community Project Hub, seNice users expand their confidence and skills to realise self-sufficienl independence through their engagement with our charity. Through our knowledge and experience gained over many years working with service users through our services, we determined that a third support mechanism was needed to complete our work successfully with a service Ljser. We needed to ensure that the tangible development gained by service users, through engagement first with our Sight Support Service, then through our Community Projects, could then be amplified to further nurture the beginnings of new confidence and independence gradually achieved by using our first ￿0 core services. Vvhal tended lo happen initislly post engagement with Sight Support Service and a term al our Community Project was that a higher percentile of service users, without the structure the Community Project provides, would slop practicing their new found independence and retire back to the confineslsafely of their own homes again. We evidenced that some service users were al risk of these newly wonlimproved skills being eroded away again, without an additional service that would encourage them to continue lo practise and use them. Our Share London Project builds upon service users newfoundlregained independence and ensures they can enjoy all the culture, open spaces, galleries, and other interesting experiences that London offers with the security of a trained sighted guide alongside them. Page 9 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 This unique social project provides beneficiaries a powerful combination of the Confiden￿ lo leave home knowing a matched trained sighted guide is alongside them and Can provide support if difficulties are encountered during the outing, as well as having the pleasure of someone lo share their interests with. The nature of activities vary widely and included outings such as visits to museums and galleries, a walk in the park, going for a coffee or a trip lo the theatre for a touch lour before the performance. Initially Share London was funded by Big Lottery Reaching Communities for three years. For the past two years BlindAid is proud lo have been funded by The Vision Foundation as we share similar aims. BlindAid is now actively seeking new funding opportunities to see this extremely popular and well managed seNice continue into the future. Initially Share London was funded by Big Lottery Reaching Communities for three years. For the past two years BlindAid is proud lo have been funded by The Vision Foundation as we share similar aims. BlindAid is now actively seeking new funding opportunities to see this extremely popular and well managed service continue into the future. We would like to say a huge thank you lo all the volunteers who have previously, or who are currently volunteering for BlindAid through this unique and very special project. Our volunteers achieve so much for our beneficiaries, and the stories of social outings that have been enjoyed by both parties are many, varied and most of all heartwarming. Our volunteers are amazing people who share their energy and warmth of spirit with our serviTr user, for the great benefit of both people. In 2023 - volunteers achieved: 1.691 social contsct calls, and 798 outings with service users. Vocational Staff Training: BlindAid remains dedicated lo actively developing a broad, relevant specialist skill base for our whole team, ensuring maximum benefits are derived for our beneficiaries. BlindAid invests In ils employees and the charity offers staff four full day training sessions annually. The curriculum offers a variety of relevant vocational training courses providing us all with the poctical tools we need to enjoy and fulfil our roles to the best of our abilities and lo ensure service users derive tsngible benefits from engaging with our team. We are all now remote workers and training days also provides regular social contact for everyone which ensures thriving culture endures. Corporate Sponsors.. With are very grateful to our Corporate Sponsor.. Ernst & Young IEYI based at More London on Tooley Street, near London Bridge Station SE1, with whom we have enjoyed a very warm g-year relationship.. Collaboratively we have organised events that have matched EY employees who have volunteered to support our service users to enjoy such events as.. Annual Christmas Shopping Trips: In 2023 we celebrated our 9th year of collaborating to provide an opportunity for our service users who would otherwise not be able lo shop independently, lo enjoy a sociable day where they are supported to do so. Over the years around 1,000 Servi￿ users have attended this special day out, shopping with EY volunteers and sharing a buffet lunch and refreshments afterwards. The 2023 event was the first post-pandemic Christmas Shopping Trip collaborating with our wonderful EY colleagues once again. It was a fantastic day with 25 service users being matched with EY colleagues for an enjoyable day of shopping, and then a buffet lunch and refreshments which everyone enjoyed enormously. We look forward lo next year which marks a 10 year milestone for this terrific annual event. River Walks: From London Bridge to the Royal Festival Hall. So many Servi￿ users have enjoyed walking along the Soulhbank, with their EY volunteer alongside them, audio describing the buildings either side of the river Thames as well as what was happening on the river itself. Many service users especially like to slop where there is a shoreline to listen lo the waves. In the years that EY has been a loyal sponsor for BlindAid, our charity has trained c40-50 EY employees annually in Sighted Guiding techniques, across the 9 years lo dale around 360 EY employees have another significant skill for life because of their altruistic gift of lime for BlindAid service users. Page 10 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Hoare Bank: In 2023 Hoare Bank's in house Corporate Responsibility Team reached out lo BlindAid became a corporate sponsor for BlindAid. The CSR Team soon demonstrated unfailing reSoUr￿S in that they are a force for good. They encouraged their colleagues lo engage with in planned Inhouse fundraising events throughout the whole month of September 2023, which culminated in an earfy evening special event, held at the bank. The event Was host by their CEO and attended by many of the bank's staff team. 11 was a truly chatming and enjoyable event, which clearly evidenced the wonderful familial culture in the ambient setting of the family's library. New staff were warmly welcomed to the team, and long serving staff were spoken about fondly and thanked for their service lo dale. The CSR team talked about the variety of events organised during September and presented BlindAid with our first ever large cardboard cheque for the amount raised for our eharily. We are already talking with our colleagues at Hoare Bank about other charitable collaborations we will do together going forward into 2024, and with Sighted Guide Training already in the diary, we are looking forward to working with them all again soon. Corporate Sponsor: Williams Grant Distillerigs: We have also trained many of WG employees in Sighted Guiding techniques to date and we have collaborated in organising some exciting social events including such as. An early evening cocktail event, where specially designed cocktails and mocktsils were available for service users and volunteers lo try. Part of the cocktail experience is usually how they look visually, and so our setwice users drinks were designed lo be especially aromatic and have sounds (popping candy) as well as multi4evel flavours. An evening with WG brand 8mbass8dors, who are particularly skilled in explaining their crafts. This proved lo be a very popular event with our service users, who were invited to tsste various spirits and leam the stories of how they are distilled. Corporate Sponsor- Financial Times: We have previously run a Creative Writing session jointly with the FT, where senior editors of the newspaper joined our service users to talk about their experiences of journalism and writing on behalf of this prestigious newspaper. We have also previously run Christmas Shopping Trips for this corporate sponsor. Training their employees who volunteered to guide service users for these days out and sharing refreshments together with service users before the end of the event. The Charterhouse Partnershlp: For the past few years BlindAid has enjoyed an enduring partnership relationship with The Charterhouse, located in Farringdon. This historic former monastery 113711 was Iransfomied by Thomas Sullon who founded his almshouse charity there in 1611. BlindAid regulady organises visits for groups of our beneficiaries to attend tours lo learn about this beautiful historic Tudor mansion, and to enjoy our coffee club the￿. We have run our Creative Writing Class at this thought provoking venue, and also supported some of our service users to attend and engage in tours of the venue. Touch Tours wlth The Tate Modern: We have run regular Touch Tours of the Tate, and also supported some service users to allend specifi'c exhibitions of various artists. work. These are always popular and well supported. The British Library.. As the library is located very close lo The Living Centre in Camden where we operate our Community Project for our service users, il has proved an easy collaboration for us to also work together with the team at the British Library. We have run an art class for many years as part of our Community Project Curriculum, and now we can also offer special exhibitions, and also art classes in collaboffttion with the British Library team which is an exciting prospect for the future. Page11 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Information and Advice.. The collation and dissemination of relevant information for our beneficiaries has afways been an important and integral part of all the charity's activities and servI￿s, and il is also part of our Community Sight Support Workers roles, lo research information required by service users and offered the provision of relevant information and guidance for service users daily during their work. In recent years, we have received some funding from certain Boroughs lo ensure that BlindAid is disseminating information about local flu and C-19 vaccinations, and also winter warming campaigns for our blind and visually impaired beneficiaries. Our general information provision may also include information relating to specific eye conditions as well as details of other services available in specific areas including social or sporting activities. Throughout the C-19 pandemic this connection was a vital service for our beneficiaries. BlindAid eamed reputation for reliable unbiased quality information provision, as we were already a trusted voice within our community of service users, we were able lo offer objective information from the NHS in relation to the vaccination program. BlindAid assists people living with sight loss lo obtain local authority and other slatulory services or concessions lo which they are enlilled, and additionally acts as a broad information and guidan￿ hub for all visually impaired people who contact the Charity. For callers, resident elsewhere in the UK the charity will make referrals to other local sight loss charities via Visionary, an umbrella organisation for all small sight loss charib'es across the UK. Aids and Equipment: The charity leased ils head office property in 2023 and as a result of this, we are no longer able to stock small aids and equipment that facilitate independent living. In 2023, we distributed all remaining limited stock lo setvice users. We now refer and support service users to engage with RNIB'S resource centres for these goods. The Clothworkers Foundation Grant Award: BlindAid has enjoyed an enduring relationship for many years with The Clolhworkers Foundation and receives an annual grant of £50,000 each year for distribution lo beneficiaries who are nominated for a grant award by OLJr own SSWS, or other professional workers who are aware of the individual service user's circumstances. Applications for grants are made for aids and equipment that support and facilitate independent living. This grant funding enables the charity lo provide financial support and the purchase of a variety of aids, equipment (not provided by statutory services) and other items that assist independent living. BlindAid's Grant award was paid to bank on 25 July 2022. In 2023 BlindAid were able lo retain £7,500 to offset a percentage of the cost of disseminating this grant on their behalf. This Is specifically a grant for grants programme and BlindAid provides financial support for beneficiaries from this grant in various ways. Grants made to small Charities, whose services are vital for the local Vl communities they serve.. Blackfriars Settlement Southwark.. £3,000 Lewisham Talking News. £2,000 Islinglon Talking News." £2,000 Individual Grants.. A total of 116 individual grants were awarded total £29,19812022.' 114 grants I Small Grants.. (under £1001164 grants were awarded in 2023 a combined total of £2,626 Total of Clothworkers Foundation Grant Disseminated.. £38,82412022'. £38,788) Page 12 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Collaboration and Consultation: Vision Foundation: (previously Greater London Fund for tho Blindl BlindAid was a member charity of the Greater London Fund for the Blind {GLF81. together with 9 other local charities serving blind and visually impaired within the M25 area for many years. GFLB acted as an umbrella fundraising organisation on behalf of its member charities and made allocations to members as contributions toward the provision of their core services. In October 2019 GLFB repurposed and renamed their charity to The Vision Foundation al a formal launch event on 16 October 2019, which senior management from BlindAid allended. A consultation period followed, and on 11 March 2020 representatives of the member charities allended a meeting to vote on the dissolution of the membership. Each member charity was paid a proportionate settlement grant following this vole and the acceptance of the grant preclLJded any further regular allocations toward the delivery of core services for blind and visually impaired people in London. BlindAid is now a partner organisation with The Vision Foundation and continue a productive working relationship, and we do apply to Vision Foundation from lime to time for funding for specific projects. In 2022 Vision Foundation merged with Fight for Sight, and BlindAid are grateful that The Vision Foundation has funded our Share London Project for the past two years. In 2023 BlindAid won a collaborative bid with the charity Refuge, who together applied to The Vision Foundation for a grant for an education and learning project so that Refuge may better support blind or visually impaired service users seeking to use their support setvices in relation to domestic violence. BlindAid were acting as a consultant in collaboration with Refuge staff, who were building training resources for their own staff team who are based at and operate from the various Refuge facilities throughout the UK. The training was developed as e-learning materials, together with a handbook for staff to refer lo when they are expecting a blind or visually impaired resident to arrive at a Refuge centre. The project was funded by The Vision Foundation. In addition, there was an additional piece of consultancy provided for Refuge which was funded by The Home Office, which shared Tech Abuse Infomalion and by allending these online sessions provided by Refuge, BlindAid Sight Support Workers became 'Tech Abuse Champions, and now have a great deal of knowledge to share with our Servi￿ users in this specific niche arena. In 2022 the NHS launched four main NHS Integrated Care Systems that quarter the 32 Boroughs of Greater London. At the end of 2022 BlindAid was awarded funding for our Community Sight Support Service in Wandsworth from South West London ICP from their Health Inequalities Funding Stream. During 2023 we have upscaled our involvement with NHS ICB teams, and we have joined many ICBIICPINHS online meetings. with circa 20-30 medical professionals, ophlhalmologisls, as well a 3rd sector organisations allending in each region. In addition, we have joined NHS ICB online consultation meetings relating to the transformation of a range of services that will be transferred 'from hospital lo the community, either to 3rd sector organisations or private medical organisalions. Collaboration with AGE UK Wandsworth in relation lo a local authority funded Healthy Eating and Safe Cooking yearlong project will finally commence in October 2024, to serve local blind and Vl residents of Wandsworth, and sessions will be held al the Gwynneth Morgan Day Centre courtesy of AGE UK. We have collabooted with 'The Place, based in Camden, in relation lo dance sessions for blind and visually impaired Servi￿ users. We have long held a warm relationship with Community Connections in Lewisham and have a productive reciprocal referral relationship with them. Part of Natural England is an organisalion called 'Happier Outdoors. with whom we have collaborated in order to provide information and encouragement for all our service users resident In the 12 inner London Boroughs. For those who are able lo get out and about, Happier Outdoors provide a directory lisb.ng all the events Borough by Borough that people can attend free of charge. Page 13 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 We have worked alongside Jubilee Hall Gym, based in Covenl Garden, and provided Sighted Guide Training for their staff team, so they are better able to respond lo blind or visually impaired members al the gym. We have entered into collaborative bids online to run some audio described yoga sessions In collaboration with the Gym, and we are also exploring other opportunities lo provide additional health options in collaboration with this gym for our BlindAid Community of service users. In 2023 we began to join a number of consortiums together with other charities and made joint funding bids to a number of inner London Boroughs for the collective provision of services for all disabled people resident in those Boroughs, and at the fftquesl of those Boroughs. Throughout 2023 BlindAid has remained committed lo actively seeking opportunities to collaborate with other charities or organisations where it may be mutually beneficial to do so. The charity, primarily through Ils Chief ExecLJtive, andlor its Operations Director, maintains relationships with key visual impairment forums and many other charities both local and national, within and outside the visual impairment sector. BlindAid is also a member of a number of useful voluntary sector organisalions. Importantly, BlindAid regularly consults service users using structLJred methods to ensure their voices are heard, and their needs are being mel effectively, and this has occurred more frequently during the past few years and again during 2023. We have used Focus Groups, as previously described above. We also receive feedback from service users through our day-to-day contact with service users. In 2023 we also created as part of the overall charity governanee structure a Service User Working Group, this group is chaired by one of our trustees, Adam Sandleson, and is supported by our operations director, and a number of service users have been invited lo join this forum so that the Board may hear service users views first hand via the minutes of these meetings and the reporting of the Chair of the Group. Page 14 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 ACHIEVEMENT AND PERFORMANCE strategy Review BlindAid supports a total of c1,400 people annually, who are living with varying degrees of sight loss and are resident in London, with the provision of various services ranging from guidance and information to complex practical support. To ensure BlindAid services remain relevant strategy is reviewed annually by trustees and senior management, taking account of all the charity's stakeholders, professional co-colleagues who refer to the charity regularly and we also listen lo the voices of our staff and beneficiaries. Recruitment of new Trustees - throughout 2022123.. The work lo being to refresh the board of trustees for the charity began as planned in 2022, and this continued into 2023. Senior Management, met with substantial numbers of candidates informally, lo select the most appointable candidates to meet with trustees on our Nominations Committee. During 2022, BlindAid appointed 5 new trustees. which included a new Chair of Trustees. Throughout the year, 4 trustees stood down from the board. The Treasurer of BlindAid had also seNed 9 years with the charity and graciously agreed to remain on the board until a suitable candidate could be appointed, and therefore retired on 31.03.2023. Additionally, 3 new trustees were appointed in 2023 including a new treasurer. Previously tmstees determined the charity's core activity should continue lo be the alleviation of the social isolation which is present in the lives of many people with lived experience of sight loss, and to serve this aim the Iruslees have endorsed substantial investment from reserves into our core services in previous years. To balance this planned expenditure,. in 2018 a key pillar of the strategic plan was that in conjunction with the investment from reserves to provide service for more beneficiaries year on year, the charity musl also develop ils own ability to generate income and identify significant sources of sustainable new funding for the future. In 2018 a fundraising consultant was commissioned to contribute lo the charity's fundraising strategy, and to work with the senior management team lo support learninglfundraising practice and generate additional income for the charity. This collaboration was concluded in 2020, with trustees endorsing further training investment in BlindAid stsff to realise the development of the internal capacity lo generate additional income for BlindAid. From January 2020 three senior staff adopted responsibility for fundraising, and whilst there is a resourcellime cost lo offset, this proved significantly less expensive than using external fundraisers. It remains a core aim for BlindAid lo raise sufficient extemal funding eventually to wholly support ils vital core Sight Support Service going forward and we aim lo allain this within the next 24 years. To this specific end, BlindAid appointed a new Head of Fundraising in November 2022, whilst some new infraslruclure was achieved early in 2023, the planned traction with income generation anticipated did not materialise throughout the year and the charity accepted the resignation of the HOF In De￿rnber 2023. Our new Chair of Trustees has already designed a new Govemance structure for BlindAid lo improve strategic work themes being managed by new working groups, chaired by new trustees with specific skills and tslenls lo maximise efforts to support senior management lo move the charity forward against strong headwinds created by C-19 pandemic plus the UK Cost of Living Crisis, which has impacted the third sector significantly, and all charities, both large and small. A new servi￿ User Working Group, and additionally a Fundoising Working Groups have been created. New Iruslees are also ambassadors for BlindAid and are tangibly working to support senior management in the challenges the charity is facing In the immediate term. Page 15 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Financial Mitigation 2019-2022.. In March-April 2019 the trustees acted prudently to de-risk the charity's investments by moving to safer investment funds. This action was primarily taken due lo the then financial climate and impending Brexit and was Completed In January 2020, unfortunately, followed swilly by the onset of the COVID-19 pandemic. The UK continued lo face a challenging economic OLJtlook due to the financial impact of both Brexit and COVID-19 on the charity's investments, at the end of 2022 the charity suffered losses on investments of c£152,000. Therefore, in 2022 trustees prudently took the decision to encash 2 years, operating costs as a precaution against further investment losses. Al the last Board Meeting of 2022 IDec 20221 tTuslees ratified a decision lo eapitalise on our propety asset, and to lease out our head office., Lantern House 102 Bermondsey Street SE1 3UB, this to specifically provide for a sustainable income for the charity which was successfully achieved in 2023. During 2023, the charity continued lo manage finance conservatively by.. 1. Making cost savings where appropriate and possible 2. Not replacing staff who reliredlresigned and reallocating duties lo other staff 3. Only replacing staff who left the charity In Boroughs which are externally funded 3. Renegotiating supplier contracts 4. Making significant numbers of applications for gmnt funding lo support our core services The prevailing financial impact relating lo Brexit, global political issues, and the global COVID-19 pandemic naturally remain under constant review by the board of Iruslees and senior management. BlindAid's approach will continue to be prudent, conservative, and cautious in ils fiscal management as always, but especially throughout this unprecedented and challenging time for all organisalions. Page 16 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Financial Review Total unreslricled income from donations and legacies for 2023 were £243,98812022 - £137,759). The charity h2s in previous years received some income from legaeies, often from former service users. By its nature, such income is not possible to predict and thus can vary significantly from year to year, and in the past few years legacies have been greatly reduced. In 2023 BlindAid finally received a legacy first notified in 2021, on behalf of a Weslminsler service users, for a total of £20,688. In addition, the charity received a reslrieled grant of £50,000 from The Clolhworkers, Foundation. BlindAid disburses this funding in grants for visually impaired people on behalf of The Clothworkers Foundation. This provides small grants lunder £1001 and individual grants 1£100-£4001 for the provision of items that are otherwise unaffordable for beneficiaries living with sight loss and contribute lo living independently. In 2023 BlindAid was permitted lo relain an administration fee of 15'/o £7,500 from the grant funding as a contribution toward the resource costs of disseminating the grant. The other Sour￿ of income for BlindAid is from the charity's investment portFolio and interest on deposit accounts. In 2023 the charity received £57,69412022.. £42,776). In 2022 the charity recorded a net loss on investments of £1 $1,753 due to market instability. The￿fore, at the end of 2022 it was agreed the charity would encash investments sufficient for 2 years of operating costs lo minimise future risk of further losses in inveslmenls, whilst noting this action naturally reduces the charity's annual dividend income. Therefore, investment holdings in CCLA Diversified Income fund were sold and funds transferred lo our CCLA deposit fund. The charity has drawn from these funds to support ils core Sight Support Service throughout 2023. A decision to be balanced against our operational stability which is vital for our service users and crucially underpins our increasingly important fundraising campaigns. It was therefore acknowledged that transition to breakeven operating stslus cannot be attained in the immediate lemi, which reflects in part the continuation of the charity's investment in Ils services, but also cost savings immediately being attained year on year. In 2023 as the charity leased its head office to secure a sustainable income for the future of the charity, the clearance of the property resulted in an additional one off loss on disposal of equipment and furniture of £190K. As the charity leased its property asset in 2023, the property was revalued by an qualified RICS suNeyor who confimied the market value with the existing lease to be £1,275.000 and market value with vacant possession to be £1,250,000. Page 17 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Investment policy The Charity's Iruslees manage our investments conservatively. Investments previously held in Charifund, a UK equities trust managed by M&G, were transferred to L&G in 2019 and Invested in both UK and International Index Trusts, where they have remained. Investments managed by CCLA in COIF Icharities Official Investment Fund) were transferred to CCLA'S new Diversified Fund in 2020, and in 2022, funds held in the Diversified Fund, were encashed lo be held in CCLA'S deposit account. Given the UK emerged from the impact of both Brexit and the C-19 pandemi¢ into a more inflationary financial environment, this produced greater investment volatility in 2022, which not only prompted a financial crisis in the UK, bul also throughout 2023 has hardened the funding landscape across the UK for both national and local charities, and wilhoul doubt smaller charities are continuing to experience difficulties in fundraising. As staled above BlindAid's investments with CCLA Diversified Fund We￿ reviewed 8t the end of 2022, and for reasons of reducing risk il was agreed to hold more liquid assets li.e. cash altemalivesl. BlindAid's remaining investments held with L&G were reviewed throughout 2023 quarterly at each board meeting and will continue to be monitored in this way. The charity's policy is to invest ils assets across a range of asset classes lo generate retums, through income and capital appreciation, lo support ils activities over the longer term. Page 18 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Reserves policy BlindAid maintains a restricted endowment fund, and accumulative investment gains earned by the endowment have been saved alongside the Investment itself. Trustees are permilled lo allocate part of the unapplied total return to the unrestricted income fund, being mindful of striking a balance between current and future beneficiaries. In 2017 trustees agreed the total endowment fund should not be reduced below a level to keep the original endowment sum in line with inflation as measured by Retail Price Index IRPII. The fund in total at December 2023 was £662,17312022. £601.9911. There was no transfer to unrestricted reserves in 2023. In previous years the Iruslees established designated funds lo cover fixed assets {including the refurbishment costs of the charity's OfFi￿S completed in 20171., and projected costs of operating the community projects, which unfortunately were all closed on 16 March 2020 due lo COVID-19 pandemic. During 2020 il was decided BlindAid could not continue to cover the cost for all three Community Projects from reserves. Therefore, the charity began fundraising to secure external funding to sustain ils centrally located Camden Community Project over a further five-year period. In 2021, BlindAid was awarded funding from The City Bridge Trust of £81,300 to financially support the Camden Community Project for a three year period. The project commenced in 2022 and will run through until 2025. We have subsequently then applied for one year of extension funding for this valuable project which has been granted and so the project will run until 2026. In 2022 Iruslees chose lo introduce a designated fund lo cover the next three years of delivering the vital Community Sight Support Service. This cost totals £747,886 and has been included within the designated funds for this reporting year and the following two years, 2024 and 2025. During previous years, Iruslees agreed BlindAid should operate a strategic deficit budget to invest surplus reserves lo expand the charity's services in support of Londoners living with sight loss. As a result, an operating deficit li.e. before gains or losses on inveslmenlsl has been made for many years previously. lthilsl our deficit was substantially reduced in 2021, it rose again in 2022 primarily due to external financial forces and due to leasing our head office in 2023 and the additional loss on disposal caused we also had an operating deficit in 2023. The Iruslees have considered the minimum level of free reserves i.e., total reserves excluding restricted, endowment funds required to support the charity's opeffttions. The free reserves as al the year-end that have not been designated towards the core service is £131K. Relevant factors to monitor include projected financial performance and an assessment of the risks to the charity's existing income streams. It has been determined that, given the reliance of BlindAid on its investments lo fund operating expenses, along with the MO￿ volatile investment environment because of higher inflation, which is also likely to increase BlindAid's costs, a higher cashlliquid asset buffer should be maintained of around 12-24 months of required expenditure (based on the average deficit of the last few years). This policy and underlying factors are reviewed regularly and considered annually, and the minimum reserves requirement is, therefore, expected to change over time, as the investment outlook and funding position changes. Going concern The trustees consider the charity a going concern. There are sufficient reserves to support the planned operating activities of the charity. Page 19 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 PLANS FOR THE FUTURE Specific objectives for 2024 are.. 1. To manage the lease and landlord responsibilities for Lantem House. 2. To seek other office accommodation lo provide a hub for the charity. 3. To build fundraising capacity lo provide sustainable sources of income for the charity. 4. To work within the new Governance Structure for the developmenvbenefit of BlindAid. 5. To pursue NHS ICB Trusts funding for core services. 6. Work in collaboration with other charities to win consortium bids from local authorities. 7. Continue lo recruit, train, match and deploy volunteers for Share London. 8. Review investment strategy considering the current UK financial climate. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and conslilutes 8 limited company, limited by guarantee, as defined by the Companies Act 2006. DirectorslTrustees The Members of the charity's Board who seNed during the year are the Directors of the Company under the Companies Act 2006. Current Members are listed on page 19. Board Members are trustees within the meaning of the Charities Act 2011. Members are appointed by the Board," details regarding the method of appointment and ￿MOVal of Members are in the Charity's Articles of Association. New Board Members receive induction and training appropriate to their experien￿ of trusteeship and knowledge of the field of visual impairment. All are encouraged lo invest time visiting head office to understand each employee's work, and to spend time out each year with any of the Sight Support Workers meeting some of our Service Users first hand. Trustees are encouraged lo attend the annual celebration of the Charity's work, lo join staff training days, lo visit BlindAid community projects to engage with Servi￿ users and lo understsnd the work the Charity undertakes to provide skills for blind and visually impaired people to maintain their independence. The powers of the Board are described in the Articles of Association. The Board holds four meetings each year. Each Board Meeting is preceded by a meeting of the Finan￿ & Resour￿ Committee Chair.. Honorary Treasurer and including the Vice Chair and the Chief Executive. The day-to-day management of the charity is delegated to the Chief Executive under the Board's supervision. Risk management The Board reviews the charity's risk register annually. The work of Sight Support Workers ISSWS) in providing guidance and support to vulnerable people implies a duty of care. Safeguarding is of paramount concern and features annually in the training schedule. The Operations Director has oversight for the planning of the curriculum for the on-going vocational training for the whole team, including volunteers. The charity recognises the importance of staff supervision, and all SSWS attend supervision meetings every weeks. The Sight Support Team Leader focuses on induction training for new Sight Support Workers, as well as fortnightly staff supervision meetings. The Team Leader also supervises performance management lo ensure that all SSWS operate within agreed quality standards. The charity also acknowledges ils duty of care lo its staff in relation lo remote working in the community. The charity has reviewed administration and finan functions (last in February 20211 and is satisfied that systems are in place to mitigate ils exposure to its major risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00986407 (England and Wales) Reglstered Charlty number 262119 Page 20 BLINDAID IREGISTERED NUMBER: 00986407) Report of the Trustees for the Year Ended 31 December 2023 Registered office Clo BWBCA Limited Office 44 A30 Business Centre Okehamplon Devon EX20 1 BG Trustees A Rawal - Senior Partner EY (appointed 30.9.221- Chair of Trustees R N Rutter- Capital Structurelcredit Rating Advisory Associale12ppointed 29.11.231- Treasurer M K Gaffar- Iresigned 31.3.241 A Pankhania (resigned 28.3.231 R Holdsworth- Investment Manager A Sandleson Psychotherapist N de Silva- CEO Age UK Wandsworth A J Gordon - Retired J W F Small- Associate Partner wrw PLC (appointed 31.1.231 D Spyridonidou Associate Directorlcredit Analyst lappoinled 29.11.231 Company Secretary S O'hara Independent Examlner Shoaib Arshad Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Bankers Lloyds Bank PLC Camberwell Green Branch 25 Camberwell Green London SE5 7AB Accountants BWBCA Limited Office 44 A30 Business Centre Okehamplon Devon EX20 18G This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. Approved by order of the board of trustees and signed on its behalf by.. S O'hara - Secretsry Page 21 Independent Examlner's Report to the Trustees of Blindaid Independent examlnerfs report to the trustees of Bllndald {'the Company.) I report to the charity Iruslees on my examination of the accounts of the Company for the year ended 31 De￿rnber 2023. Responsibilities and basis of report As the charity's trustees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Aet. Independent examinerfs statement Since yOLJr charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. or the accounts do not accord with those records,. or 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 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice ft)r awounling and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other mallers in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Shoaib Arshad The Institute of Chartered Accountants in England and Wales Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD 0211212024 Date.. .. Page 22 BLINDAIO ststement of Financial A¢tivitie$ for the Year Ended 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Endowment fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 243.988 42,500 286A88 180,259 Investment income 57,694 57,694 42,776 Total 301,682 42,500 344,182 223,035 EXPENDITURE ON Raising funds 68.327 68,327 58,359 Charitable activities Community Sight Support service Camden Community Project Grants Telephone Support seNice Share London 553,090 48,592 19,208 2,606 55.798 553,090 48,592 58,032 2,606 55.798 551,365 39,264 50,665 38,824 47,618 Other 183.552 183,552 Total 931,173 38,824 969,997 747,271 Net gainslllossesl on investments 1.159.567 1.159,567 {151,753} NET INCOMEIIEXPENDITUREI 530,076 3,676 533,752 {675,9891 RECONCILIATION OF FUNDS Total funds brought forward 1.550.180 52,767 397,627 2.000,574 2,676,563 TOTAL FUNDS CARRIED FORWARD 2.080,256 56,443 397,627 2,534,326 2,000,574 The notes form part of these financial statements Page 23 BLINDAID IREGISTERED NUMBER: 00986407) Balance Sheet 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Endowment fund Notes FIXED ASSETS Tangible assets Investments Investments Investment propety 13 1,677 1,677 298,165 14 265,646 15 1.200.000 397,627 663,273 1,200,000 602,091 1,467,323 397,627 1,864,950 900,256 CURRENT ASSETS Stocks Debtors Cash in hand 16 1,563 111 197 1,014,980 148,301 511,512 148,301 567,955 56,443 659,813 56,443 716,256 1,127,740 CREDITORS Amounts falling due within one year 18 146,8801 146,880) 127,422} NET CURRENT ASSETS 612.933 56A43 669,376 1,100,318 TOTAL ASSETS LESS CURRENT LIABILITIES 2,080,256 56,443 397,627 2,534,326 2,000,574 NET ASSETS 2,080,256 56,443 397,627 2,534,326 2,000,574 FUNDS Unrestricted funds.. General fund Fixed assets Community Sight Support Seryices 19 130.693 1,201,677 747.886 232,015 298,165 1,020,000 2,080.256 1,550,180 Restricted funds Endowment funds 56,443 397.627 52,767 397,627 TOTAL FUNDS 2.534.326 2,000,574 The charitable company is entitled to exempti'on from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company lo obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements Page 24 continued... BLINDAID IREGISTERED NUMBER: 00986407) Balance Sheet - continued 31 December 2023 The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the slate of affairs of the eharilable company as al the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othetwise comply with the requirements of the Companies Ad 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable lo charitable companies subject lo the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by". RRullEI.Ibiuy.2L?0241?.:03.GI4TI R N Rutler- Trustee Ajay Raw81 INOV 30, 2024 07..09 GMT) A Rawal - Trustee The notes form part of these financial statements Page 25 BLINDAIO Cash Flow Statement for the Year Ended 31 December 2023 31.12.23 31.12.22 Notes Cash flow$ from operating activities Cash generated from operations {489,643) {555,493} Net cash used in operating activities {489,643) {555,493} Cash flows from Investlng actlvltles Purchase of tangible fixed assets Sale of fixed asset investments Interest re￿iVed Dividends received 11,5261 1,473,592 2,917 39,859 26.574 16,044 Net cash provided by investing activities 42,618 1,514,842 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period {447,0251 959,349 1.014.980 55,631 Cash and cash equivalents at the end of the reporting period 567,955 1,014,980 The notes form part of these financial statements Page 26 BLINDAIO Notes to the Cash Flow Statement for the Year Ended 31 December 2023 RECONCILIATION OF NET INCOMEI{EXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.23 31.12.22 Net incomel{expenditurel for the reporting period las per tho Statement of Financial Activitiesl Adjustments for: Depreciation Charges Loss on disposal of fixed assets Interest received Dividends received Unrealised Igainsllloss on investments Revaluation gain on investment property Decrease in stocks Increase in debtors Increase in creditors 533,762 {675,989} 11,321 183,552 126,574) 116,0441 161.182) 11,098,385> 1.563 137.104) 19.458 16,924 12,917} 139,859} 151,753 19,2901 3,885 Net cash used In operatlons {489,643) 1555,493} ANALYSIS OF CHANGES IN NET FUNDS At1.1.23 Cash flow At 31.12.23 Net cash Cash at bank and in hand 1,014,980 (447,025) $67,955 1,014,980 {447,025) 567,955 Total 1,014,980 1447,025) 567,955 The notes form part of these financial statements Page 27 BLINDAIO Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical Cost convention with the exception of Investments which are included al market value. They have been prepared in accordance with applicable United Kingdom accounting standards, the requirements of the Statement of Recommended Poctice, Accounting and Reporting by Charities, ISORP 20151, the Financial Reporting Standard applicable in the UK IFRS 1021 and the Charities Act 2011. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the ilemlsl of income have been mel, it is probable that the income will be received and the amount can be measured reliably. For legacies, entitlement is taken as the earfier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the execulorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified lo the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been mel, then the legacy is a treated as a contingent asset and disclosed if material. Expenditure Liabilities are recognised as expenditure as soon as there Is a legal or constructive obligation commilling the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed lo particular headings they have been allocated lo activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Ralslng funds Raising funds includes all expenditure incurred by the charity lo raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charilable trading. Governance costs These represent those costs allributable lo the management of the charity's assets, organisational administration and compliance with conslitulional and slatulory requirements. Allocatlon of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back Offi￿ costs, finan￿, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable aclivilies. The bases on which support costs have been allocated are sel out in note 7. Tangible fixed as$et$ Depreciation is provided at the following annual rates in order lo write off each asset over its estimated useful life. Freehold property is accounted for on a component cost basis with each component being depreciated over ils economic life as shown below. Freehold Property Fabric of building Over 70 years Doors & windows- Over 20 years Partitioning - Over 10 years Other Assets Fixtures & fittings - 15010 on cost & 4Vo on cost Computer & Offi￿ equipment- 250/0 on cost Page 28 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES- continued Investment property Investment property is carried al fair value determined annually and derived from the current market rents and investment propety yields for comparable real estate, adjusted If neTrssary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the Statement of Financial Activities. Stocks Stocks consist mainly of small items of aids and equipment and are slated al the lower of cost and net realisable value. Taxation The charity is exempl from corporation tax on its ch8ritable activities. Fund accounting General funds- These are funds which can be used in aecordance with the charity's eharilable objects at the discretion of the board. Designated funds - These comprise unrestricted funds that have been sel aside by the trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial statements. Restricted funds - These funds are subject to specific restrictive conditions imposed by donors or funds received for specific purposes and projects. Endowment funds - These a￿ represented by a pemanent endowment fund, the BlindAid Fund, which stipulates that the capital of the fund musl be retained and cannot be spent. The BlindAid Fund is wholly invested in Legal & General International Index and Legal & General UK Index units (see note 151 and income arising from the Fund is used for charitable activities. Pensions The charity operates a defined contribution pension scheme for the benefit of ils employees and directors. The assets of the scheme are held separately from those of the charity. Contributions payable are charged lo the Statement of Financial Activities in the year they are payable. Termination benefits Termination benefits are payable when employment is terminated before the normal retirement dale or whenever an employee accepts voluntary redundancy in exchange for these benefits. The charity recognises termination benefits when it is demonstobly committed lo either lil tem)inating the employment of current employees according lo a detailed formal plan wilhoul possibility of withdrawal or lill providing temiination benefits as a result of an offer made to encourage voluntary redundancy. Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordan￿ with the Charities SORP IFRS 1021, the general volunteer time given to the charity is not recognised and refer lo the trustees, annual report for more information about their contribution. On ￿teIpt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expenditure in the period of re￿ipt. Page 29 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES- continued Investments Investments are included in the Balan￿ Sheet al bid-market value. Gains and losses on disposal and revaluation of investments are credited or charged lo the Statement of Financial Activities. Investment income and gains arising on endowment funds are accounted for on a total return basis. DONATIONS AND LEGACIES 31.12.23 31.12.22 Clothworkers funding Big lottery funding Vision foundation Corporate donations General donations, grants and trusts Legacies 50,000 50,000 13,349 20,000 41,815 174,673 29,805 62,400 24,705 286,488 180,259 INVESTMENT INCOME 31.12.23 31.12.22 Rents reeeived Investment income from listed investments Deposit account interest 15,076 16,044 26.574 39,859 2,917 57.694 42,776 The shares in Lantern House Management Limited produ￿ no income. RAISING FUNDS Raising donation5 and legacies 31.12.23 31.12.22 Staff costs Advertising for legacies Professional fLJndraising Support costs 57,724 550 288 9.765 46,825 1,350 299 9,885 68,327 58,359 Page 30 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 61 Support costs Isee note 71 Direct Costs Totals Community Sight Support service Camden Community Project Grants Telephone Support service Share London 342,868 25,279 210,222 23,313 19.208 2,606 23.313 553,090 48,592 58.032 2,606 55.798 38.824 32.485 400,632 38,824 278,662 718,118 Grant funding of activities (see note 61 Support costs (see note 71 Direct Costs 2022 Comparative Totals Community Sight Support service Camden Community Project Grants Big Lottery Share London 354,989 15,016 196,376 24,248 11,877 24,248 551,365 39,264 50,665 47,618 38,788 23,370 393,375 38,788 256,749 688,912 GRANTS PAYABLE 31.12.23 31.12.22 Grants 38,824 38,788 The total grants paid lo institutions during the year was as follows.. 31.12.23 31.12.22 3 grants to Vl organisations for community projecls12022 - 21 7.000 5,000 The total grants paid lo individuals during the year was as follows.. 31.12.23 31.12.22 116 grants for general purposes12022 - 1141 Small grants Inot greater than £501 29,198 2.626 31,034 2,754 31.824 33,788 Page 31 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 GRANTS PAYABLE - continued The grants to individuals and grants lo organisations were funded by a grant received in the current year from The Clolhworkers, Foundation. The grant included a contribution of £7,500 towards the dissemination of the grant. SUPPORT COSTS Governance costs Other Totsls Raising donations and legacies Community Sight Support service Camden Community Project Grants Telephone Support setwice Share London 5.314 134,548 16.302 15,869 2.606 16.302 4.451 75,674 7.011 3,339 9.765 210,222 23,313 19,208 2.606 23.313 7.011 190,941 97.486 288.427 Governance costs 2022 Comparative Other Totsls Raising donations and legacies Community Sight Support service Camden Community Project Grants Big Lollery Share London 5,810 127,118 17,804 8,821 17,804 4,075 69,258 6,444 3,056 6,444 9,885 196,376 24,248 11,877 24,248 177,357 89.277 266,634 The charity initially identifies the costs of ils support functions.11 then identifies those costs which relate to the governance function. Having identified ils governan￿ costs, the remaining support costs together with the governanTr costs are apportioned between the charitable activities on the basis of time expended on each activity. NET INCOMEIIEXPENDITURE) Net incomellexpendilurel is slated after chargingllcredilingl". 31.12.23 31.12.22 Auditors, remuneration Depreciation - owned assets Deficit on disposal of fixed assets Independent examination 5,800 16,925 11,322 183,552 3,480 Page 32 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees. expenses There were no expenses reimbursed to trustees for the year ended 31 December 2023 nor for the year ended 31 December 2022. 10. STAFF COSTS 2023 2022 Wages and salaries Social security costs Pension costs $45,465 44,616 37,762 514,055 41,110 37,295 627.843 592,460 The average monthly number of employees during the year was as follows.. 31.12.23 31.12.22 Office staff Community Support Services staff 14 19 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 31.12.23 31.12.22 £60,001 - £70,000 £70,001-£80,000 The amount of employerfs pension contribution for the highest paid employee was £4,760 12022 £5,427). There are employees included in Offi￿ staff that are considered lo be key management personnel. Their aggregate emoluments for the year was £110,20012022 - £120,456). Page 33 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 11. 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Endowment funds funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 137,759 42,500 180,259 Investment income 42,776 42,776 Total 180,535 42,500 223,035 EXPENDITURE ON Raising funds 58,359 58,359 Charitable activities Community Sight Support serviee Camden Community Project Grants Share London 551,365 39,264 11,877 47,618 551,365 39,264 50,665 47,618 38,788 Total 708,483 38,788 747,271 Net gainslllossesl on investments 1106,9871 144,7661 {151,753} NET INCOMEIIEXPENDITUREI 1634,9351 3,712 144,7661 1675,9891 RECONCILIATION OF FUNDS Total funds brought forward 2,185,115 49,055 442,393 2,676,563 TOTAL FUNDS CARRIED FORWARD 1,550.180 52,767 397,627 2,000,574 12. PENSION COMMITMENTS The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an Inde￿ndentlY administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounts to £37,762 for the year12022 £37,295). There were £4,478 of contributions outstanding al the balance sheet dale12022 - £3,194). Page 34 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 13. TANGIBLE FIXED ASSETS Fixtures and rittings Computer & office equipment Freehold propety Totals COST Al 1 January 2023 Disposals Reclassification 192,325 238,112 {238,1121 57.983 149,3451 488.420 1287,457) {192,325) {192.325) At 31 December 2023 8,638 8,638 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal Reclassification 86,864 3.846 52,762 4.732 157,4941 50,629 2.744 146,4121 190,2SS 11,322 1103,906) 190.710) 190.710) At 31 December 2023 6,961 6,961 NET BOOK VALUE At 31 December 2023 1,677 1,677 At 31 December 2022 105,461 185,350 7,354 298,165 14. FIXED ASSET INVESTMENTS Listed Investments 2023 1£) 2022 1£) MARKET VALUE Al 1 January 2023 Disposals Gains I Ilossesl 600,990 2,227,435 11,473,592) 1151,7531 61,182 At 31 December 2023 662,172 602,090 Investments included in Unrestricted Funds are.. Investments included in Endowment Funds are L&G International Index Trust of £390,57712022 £339,233) and L&G UK Index Trust of £271,596 12022 - £261,757), less an amount allocated to General Unreslricled Funds under Total Return Accounting. Page 35 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 15. INVESTMENT PROPERTY FAIR VALUE Revaluation Reclassification 1,098,385 101,615 Al 31 December 2023 1.200.000 NET BOOK VALUE Al 31 December 2023 1.200,000 At 31 December 2022 Fair value at 31 December 2023 is represented by.. Valuation in 2024 1,200,000 If investment property had not been revalued il would have been included at the following historical cost.. 31.12.23 31.12.22 Cost 192,325 Aggregate depreciation 190,711) Investment property was valued on an open market basis on 21 July 2024 by Termcotta Limited. 16. STOCKS 31.12.23 31.12.22 Stocks 1,563 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other debtors 148,301 111 197 Page 36 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 5,012 13,530 24,858 3.480 878 13,122 7,152 6,270 46.880 27,422 19. MOVEMENT IN FUNDS Net movement in funds Al 31.12.23 Al 1.1.23 Unrestricted funds General fund Fixed assets Community Sight Support Services 232,015 298,165 1,020,000 (101,3221 903,512 {272,1141 130,693 1.201,677 747,886 1,550,180 530,076 2,080,256 Restrlcted funds The Clothworkers. Foundation 52.767 3.676 56.443 Endowment funds Endowment fund 397.627 397,627 TOTAL FUNDS 2,000,574 533.752 2,534,326 Nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund Fixed assets Community Sight Support Services 30.095 (192,599} {194,873} {543,701} 61.182 1,098,385 (101,322} 903,512 {272,114} 271,587 301,682 1931,173) 1,159,567 530,076 Restricted funds The Clothworkers, Foundation 42,500 138,824) 3,676 TOTAL FUNDS 344,182 {969,997) 1,159,567 533,752 Page 37 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 19. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers bebNeen funds At 31.12.22 At1.1.22 Unrestricted funds General fund Fixed assets Community Sight Support Services 1,871,551 313,564 1618,0111 11,021,525) 116,9241 1,525 1,020,000 232,015 298,165 1,020,000 2,185,115 {634,9351 1,550,180 Restricted funds The Clothworkers. Foundation 49,055 3,712 52,767 Endowment funds Endowment fund 442,393 144,766} 397,627 TOTAL FUNDS 2,676,563 {675,9891 2,000,574 Comparative net movement in ftjnds, included in the above are as follows.. Incoming resources ReSoUr￿S expended Gains and losses Movement in funds Unrestrlcted funds General fund Fixed assets 180,535 {691,5591 116,9241 {106,9871 1618,0111 116,9241 180,535 1708,4831 1106,98n 1634,9351 Restricted funds The Clothworkers. Foundation 42,500 138,7881 3,712 Endowment funds Endowment fund 144,7661 144,7661 TOTAL FUNDS 223,035 1747,2711 1151,7531 1675,9891 Designated funds comprise the following.. A fixed asset reserve, including the reclassification and revaluation of the charity's premises from freehold property lo Investment property. Community Support Services reserve to cover the service delivery across 2023 to 2025 years. Page 38 continued... BLINDAIO Notes to the Financial Statements - Continued for the Year Ended 31 December 2023 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 21. ENDOWMENT FUNDS Unapplied Total Retum Trust for Investment Total Endowment Balances as at 1 January 2023 182,627 215,000 397,627 Return for the year Investment gain 61,182 61,182 Allocated lo Unreslricled Income Fund 161,1821 161,1821 Nel movement for the year Balance as at 310ecember 2023 182,627 215,000 397,627 Unapplied Total Return Trust for Investment Total Endowment 2022 Comparative Balances as al 1 January 2022 227,393 215,000 442,393 Return for the year Investment loss 144,7661 144,7661 Nel movement for the year 144,7661 144,7661 Balance as at 31 December 2022 182,627 215,000 397,627 Page 39