REGISTERED CHARITY NUMBER: 502893
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
FOR
PEMBROKESHIRE BLIND SOCIETY
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
PEMBROKESHIRE BLIND SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2026
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
PEMBROKESHIRE BLIND SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2026
The trustees present their report with the financial statements of the charity for the year ended 31 March 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The main objectives of the charity are to promote the material, mental and spiritual welfare of persons in the County of Pembrokeshire who are Registered as Blind. In particular it makes grants of equipment for the benefit of such persons. The beneficiaries may also include those who are registered as partially sighted, at the discretion of the Management Committee.
The strategies employed to achieve the charities objectives are to:
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provide annual gifts to members to support members and provide aids or assistance.
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purchase small items of equipment for members and consider requests for grants of up to £500.
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monitor membership lists provide support and advice to members.
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arrange an annual social gathering in the form of a Christmas Lunch.
The Trustees confirm that they have complied with the duty of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. This guidance has been referred to when reviewing the Charity's aims and objectives and in planning future activities.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
One of the main functions of the Society has been to provide assistance to members in the form of gifts. An annual gift of £100 is sent to all registered members.
An annual social gathering is arranged in the form of a Christmas Lunch which is provided free for members and an accompanying person.
Regular grants are made to individuals with particular needs including young people of school and university ago who have particular requirement relating to their studies.
FINANCIAL REVIEW
Principal funding sources
Investment income is the principle source of funding for the Charity.
Investment policy and objectives
The Committee's investment powers are governed by the Trust Deed, which permits the Charity's funds to be invested in any way the Trustees at their absolute discretion think fit.
The Committee's investment policy is that of cautious or low risk. This aims to maximise income whilst the real value of investments is maintained. It enables continued future support to be guaranteed for the registered blind within Pembrokeshire.
Reserves policy
It is the Trustees' intention to try to maintain reserves of approximately £1,000,000 in order to ensure a continued source of investment income from which the expenditure for annual gifts and grants can be made.
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PEMBROKESHIRE BLIND SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2026
FINANCIAL REVIEW
Financial review
Resources expended remain consistent year-on-year.
Expenditure again exceeded income from investments, legacies and donations by some £7,053 (2025 - £10,298). At the end of the year there was an increase in net funds of £83,893 (2025 - decrease of £22,436) due to changes in the valuation of investments held.
The end of the year saw financial reserves standing at £1,185,056 (2025 - £1,101,163)
A special mention to Brewin Dolphin here, where they have managed the investment portfolio for you and kept the portfolio at a consistent level even through the current difficult market conditions.
FUTURE PLANS
The charity plans to continue the activities outlined previously in the forthcoming years.
The Committee are hoping to have more engagement with younger members through liaison with the schools officer for the visually impaired.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The original trust deed was dated 9th May 1974 and was amended by a scheme dated 8th August 2002, and amended again by a resolution dated 18th November 2016.
Recruitment and appointment of new trustees
Committee members are not trustees unless specifically appointed as such at a properly constituted meeting of the trustees.
Committee members may suggest members for appointment onto the committee and this must be approved by a majority of members in attendance.
Organisational structure
The charity is administered by a Management Committee which can have up to 14 members. The board meets bi-monthly and the treasurer and secretary manage the day to day operation of the charity.
The Management Committee shall consist of:
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i Seven elected members from whom are appointed: Chairman, Vice Chairman, Secretary and Treasurer
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ii Not more than four co-opted members.
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iii Three representative members from: - Pembrokeshire County Council;
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Social Services departments; - Community Council.
Members are elected at the Annual General Meeting to serve for a period of one year and they can be re-elected.
Induction and training of new trustees
There are no formal policies in place for induction of trustees at present.
Trustees are encouraged to attend appropriate external training events and conferences to facilitate the undertaking of their role.
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PEMBROKESHIRE BLIND SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2026
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 502893
Principal address
1 Driftwood Close Broad Haven Pembrokeshire
Trustees
All Trustees are members of the Management Committee.The full committee is shown below with an indication as to which ones are Trustees:
President 1st Vice President 2nd Vice President
The Very Reverend Jonathan Lean (Trustee) Mrs Penny Drew Mrs Pauline Jones
Chairman Vice Chairman
The Very Reverend Jonathan Lean (Trustee) Councillor Simon Hancock (Trustee)
Trustee
Reverend Harri Williams (Trustee)Peter Allen (Trustee)
Treasurer Secretary Gift Secretary
Mrs Mary Webb (Trustee) Mrs Janet Evans (Trustee) Mrs Sue Devonald
Committee Member (North) Committee Member (South)
Mrs Chris Lloyd Mrs Sue Moss
Social Services Representative County Council Representative
Mrs Tracey Martin-Smith Councillor Simon Hancock (Trustee)
Other advisers in attendance: North V.I.P. Representative South V.I.P. Representative North Visitor's Representative South Visitor's Representative Talking Newspaper Representative
Mrs Pat Farrar Mrs Eva Rich Mrs Penny Drew Mrs Maureen Davies Mrs Glenys Davies
Independent Examiner
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
Investment advisers
Brewin Dolphin 12 Smithfield Street London EC1A 9BD
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PEMBROKESHIRE BLIND SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2026
Approved by order of the board of trustees on 19 June 2026 and signed on its behalf by:
Very Reverend Jonathan Lean - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEMBROKESHIRE BLIND SOCIETY
Independent examiner's report to the trustees of Pembrokeshire Blind Society
I report to the charity trustees on my examination of the accounts of Pembrokeshire Blind Society (the Trust) for the year ended 31 March 2026.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Murray The Association of Chartered Certified Accountants
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
Date: .............................................
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PEMBROKESHIRE BLIND SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2026
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities General Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2026 Unrestricted fund £ 2,707 28,431 31,138 6,305 31,886 38,191 90,946 83,893 1,101,163 1,185,056 |
2025 Total funds £ 22,972 27,741 50,713 8,960 52,051 61,011 (12,138) (22,436) 1,123,599 1,101,163 |
|---|---|---|
The notes form part of these financial statements
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PEMBROKESHIRE BLIND SOCIETY
BALANCE SHEET 31 March 2026
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
2026 Unrestricted fund £ 1,179,893 8,303 (3,140) 5,163 1,185,056 1,185,056 1,185,056 1,185,056 |
2025 Total funds £ 1,091,822 12,805 (3,464) 9,341 1,101,163 1,101,163 1,101,163 1,101,163 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 June 2026 and were signed on its behalf by:
Very Reverend Jonathan Lean - Trustee
The notes form part of these financial statements
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2026
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Governance costs
This includes the cost of the preparation and independent examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Computer equipment - 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
2. INVESTMENT INCOME
3.
| Income from listed investments Deposit account interest RAISING FUNDS Investment management costs Charges relating to investments |
2026 £ 19,439 8,992 28,431 2026 £ 6,305 |
2025 £ 19,803 7,938 27,741 2025 £ 8,960 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.
Mrs Janet Evans, secretary, received a honorarium of £2,500 during the year.
Mrs Mary Webb, treasurer, received a honorarium of £2,500 during the year.
Apart from this, no remuneration was paid to any trustee during the year.
Trustees' expenses
Amounts on account of travel and meeting expenses totalling £550 were reimbursed to other individuals (2025 - £550).
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities General Total |
Unrestricted fund £ 22,972 27,741 50,713 8,960 52,051 61,011 |
|---|---|
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 April 2025 and 31 March 2026 735 DEPRECIATION At 1 April 2025 and 31 March 2026 735 NET BOOK VALUE At 31 March 2026 - At 31 March 2025 - 7. FIXED ASSET INVESTMENTS Shares Other |
Computer equipment £ 3,375 3,375 - - 2026 £ 1,164,237 15,656 1,179,893 |
Unrestricted fund £ (12,138) (22,436) 1,123,599 1,101,163 Totals £ 4,110 4,110 - - 2025 £ 1,073,897 17,925 1,091,822 |
|
|---|---|---|---|
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
7. FIXED ASSET INVESTMENTS - continued
Additional information as follows:
----- Start of picture text -----
Listed
investments
£
MARKET VALUE
At 1 April 2025 1,073,897
Additions 154,172
Disposals (155,324)
Revaluations 90,946
Cash held movement 546
At 31 March 2026 1,164,237
NET BOOK VALUE
At 31 March 2026 1,164,237
At 31 March 2025 1,073,897
Market Overseas and
value at UK global
year end i nvestments investments
£ £ £
Investments listed on a recognised stock exchange or
held in common investment funds, open ended
investment companies, unit trusts or other collective
investment schemes 1,164,237 465,761 698,476
-
Cash held as part of the investment portfolio 15,656 15,656
Total 1,179,894 481,417 698,476
----- End of picture text -----
Investments, material in terms of value by representing more than 5 per cent of the value of the Charity’s total investments, are disclosed below:
| Investment held | Market value £ |
|---|---|
| North American Equities | 156,852 |
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
7. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 March 2026 is represented by:
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Valuation in | 2020 | (95,688) |
| Valuation in | 2021 | 283,609 |
| Valuation in | 2022 | 16,066 |
| Valuation in | 2023 | (110,848) |
| Valuation in | 2024 | 83,430 |
| Valuation in | 2025 | (12,138) |
| Valuation in | 2026 | 90,946 |
| Cost | 908,860 | |
| 1,164,237 |
Fixed asset investments were valued on an open market basis on 31 March 2026 by Brewin Dolphin.
Investments (neither listed nor unlisted) were as follows:
| Cash held by broker 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 9. MOVEMENT IN FUNDS At 1.4.25 £ Unrestricted funds General fund 1,101,163 TOTAL FUNDS 1,101,163 |
2026 £ 15,656 2026 £ 1,100 2,040 3,140 Net movement in funds £ 83,893 83,893 |
2025 £ 17,925 2025 £ 1,500 1,964 3,464 At 31.3.26 £ 1,185,056 1,185,056 |
|---|---|---|
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 31,138 | (38,191) | 90,946 | 83,893 |
| TOTAL FUNDS | 31,138 | (38,191) | 90,946 | 83,893 |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.24 £ 1,123,599 1,123,599 |
Net movement in funds £ (22,436) (22,436) |
At 31.3.25 £ 1,101,163 1,101,163 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources Gains and resources expended losses £ £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 50,713 (61,011) (12,138) |
(22,436) |
| TOTAL FUNDS | 50,713 (61,011) (12,138) |
(22,436) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.24 £ 1,123,599 1,123,599 |
Net movement in funds £ 61,457 61,457 |
At 31.3.26 £ 1,185,056 1,185,056 |
|---|---|---|---|
continued...
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PEMBROKESHIRE BLIND SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2026
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 81,851 | (99,202) | 78,808 | 61,457 |
| TOTAL FUNDS | 81,851 | (99,202) | 78,808 | 61,457 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2026.
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PEMBROKESHIRE BLIND SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2026
| 2026 | 2025 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and legacies | 2,707 | 22,972 |
| Investment income | ||
| Income from listed investments | 19,439 | 19,803 |
| Deposit account interest | 8,992 | 7,938 |
| 28,431 | 27,741 | |
| Total incoming resources | 31,138 | 50,713 |
| EXPENDITURE | ||
| Investment management costs | ||
| Charges relating to investments | 6,305 | 8,960 |
| Charitable activities | ||
| Project worker costs | - | 25,589 |
| Individual gifts to members | 14,400 | 15,600 |
| Grants and donations | 5,193 | 1,690 |
| Party expenses | 3,749 | 3,137 |
| Sundry costs | - | 200 |
| Support costs | 23,342 | 46,216 |
| Other | ||
| Insurance | 639 | 616 |
| Printing, stationery and postage | 315 | 755 |
| Governance costs | 954 | 1,371 |
| Independent examiner's remuner ation | 2,040 | 1,914 |
| Trustee and committee expenses | 5,550 | 2,550 |
| 7,590 | 4,464 | |
| Total resources expended | 38,191 | 61,011 |
| Net expenditure before gains and losses | (7,053) | (10,298) |
This page does not form part of the statutory financial statements
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PEMBROKESHIRE BLIND SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2026
| for the Year Ended 31 | March 2026 | |
|---|---|---|
| 2026 | 2025 | |
| £ | £ | |
| Realised recognised gains and losses | ||
| Gains/losses on investment assets | 90,946 | (12,138) |
| Net income/(expenditure) | 83,893 | (22,436) |
This page does not form part of the statutory financial statements
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