DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 Charity number: 518308 ## VISUAL IMPAIRMENT NORTH EAST Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2020 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 VISUAL IMPAIRMENT NORTH EAST Contents Page For the year ended 31 December 2020 |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 11| |Detailed Statement of Financial Activities|12| DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Report of the Trustees ## For the year ended 31 December 2020 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2020. 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 the Republic of Ireland (FRS 102) (effective 1 January 2015). ## **OBJECTIVES AND ACTIVITIES** Visual Impairment North East (the Association), is a registered charity, charity number 518308, governed by its Constitution drawn up on 30 December 1986. The executive committee have referred to the Charities Commission's guidance on the public benefit when reviewing its aims and objectives and planning future activities. The main objects of the Association are as follows: 1) to promote the relief of visually impaired people in any manner which now is, or hereafter may be deemed by law to be charitable, within the North East region of England; 2) to consider and make recommendations for improving the total provision of services to visually impaired people; 3) to help all disciplines to communicate, understand and develop services for visually impaired people; 4) to provide a forum which encompasses all workers with visually impaired people; and 5) prepare, sell or otherwise distribute training, educational and information materials as ancillary to one or more of the above objects. The principal activity of the Association is the production and sale of training aids, including simulation packages and videos, for individuals and organisations who work with the visually impaired, with the aim of generating funds to assist projects which promote improvement in overall services for the visually impaired. ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** Unfortunately no grants were issued in the financial year, this was primarily due to the global pademic of Covid. This forced us to hold cash reserves back to maintain the other primary fuctions of the charity. Grants are approved for payment either by the full membership at the Annual General Meeting or the Executive Committee at other meetings. ## **FINANCIAL REVIEW** Development during the year and the position at 31 December 2020 are as shown in the attached financial statements. Income for the year was £56,501 (2019: £60,549) and the surplus for the year was £18,775 (deficit 2019: £8,582). Further information regarding the activities of the Association during 2020 is contained in the Regional Coordinator's Report which is distributed to Members with the Report and Financial Statements in advance of the Annual General Meeting. ## **Significant events** During the financial year we like most organisations suffered financially due to the global Covid pandemic. This has meant we have not been able to rebuild our cash reserves as much as we intended this financial year. We have however come out the other side and we are surviving and have high hopes for the future. ## **Reserves** It is the policy of the Association to maintain funds at a level which equates to approximately 6 months expenditure. Based on current activity this gives a target level of £20,000. At 31 December 2020 the charity held unrestricted free reserves of £194,452 (2019: £175,677) and cash reservces of £65,887 (2019: £50,382) 1 of 12 Docusign EnvÈlope ID." 5B6CA25F-A4F24ABE-9841£3C6E30030B3 VISUAL IMPAIRMENT Tr*)RTH EAST 13Dv•rnlw+JotyJM•s IlTh ofchwlty Piknclyl iOÈkAISkyW4y 12EQ HSBCr 14EI 6 2021 2d12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Independent Examiners Report to the Trustees For the year ended 31 December 2020 I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. 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. Beach Accountants Limited Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ 30 June 2021 3 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST Statement of Financial Activities For the year ended 31 December 2020 |**Notes**
**Income and endowments from:**
Donations and legacies
Charitable activities
2
Investments
3
**Total**
**Expenditure on:**
Charitable activities
4
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
26,081
30,276
144
**56,501**
(37,726)
**(37,726)**
**18,775**
175,677
**194,452**|**2019**
**£**
-
59,904
645| |---|---|---| |||**60,549**| |||(69,131)| |||**(69,131)**| |||**(8,582)**
184,259| |||**175,677**| 4 of 12 Docusign EnvÈlope ID." 5B6CA25F-A4F24ABE-9841£3C6E30030B3 VISUAL IMPNFIMW NCIiTh EAST at 31 0￿￿1￿￿2020 114.767 114S24 tt4767 io 19,949 721 12.107 OBbbJrn C•th 1&8S7 12 18.6291 111021 7•,• 194N$3 174871 174V7 13 19IA52 175.on IMA$2 1748TT 30JuM 2021 5rf12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST Notes to the Financial Statements For the year ended 31 December 2020 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. VISUAL IMPAIRMENT NORTH EAST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** Financial Reporting Standard 102 requires, if appropriate, the Association's financial statements are prepared on the going concern basis, which means that the Association is able to operate for the foreseeable future on the basis of known and reasonable projected resources. There are no material uncertainties in respect of the Association's ability to continue as a going concern. The Executive Committee Members are satisfied that the Association is able to operate for at least 12 months from the date of approval of these financial statements and consequently the financial statements have been approved on the going concern basis. ## **Funds** Unrestricted income funds are available for use at the discretion of the Executive Committee in furtherance of the general objectives of the Association. ## **Incoming resources** All income is recognised once the Association has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Income from the sale of training aids including simulation packages and videos is accounted for on a receivable basis. Interest income is recognised upon receipt or upon notification of the interest paid or payable by the bank. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Fax machine: 15% per annum, reducing balance Computer equipment: 20% per annum, reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. ## **Stocks and work in progress** Stocks of simulation packages and videos are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the income and expenditure account. Reversals of impairment losses and are also recognised in the income and expenditure account. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held at call with banks. 6 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **Critical accounting estimates and judgements** Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. ## Critical accounting estimates and assumptions: The Association makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. ## Critical areas of judgement: In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the Association as lessee. ## **2. Income from charitable activities** |**Unrestricted funds**
_Charitable activities_
Sale of simulation packages and
videos
**vestment income**
**Unrestricted funds**
Bank interest receivable|**2020**
**£**
30,276
**2020**
**£**
144
**144**|**2019**
**£**
59,904
**2019**
**£**
645| |---|---|---| |||**645**| ## **3. Investment income** 7 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **4. Costs of charitable activities by activity type** ||**Activities**|**Support costs**|**2020**|**2019**| |---|---|---|---|---| ||**undertaken**|||| ||**directly**|||| ||**£**|**£**|**£**|**£**| |**Support costs**||||| |**Charitable activities**||||| |Charitable activities|4,761|-|4,761|22,206| |Staff costs - wages & salaries|-|26,094|26,094|27,327| |Accountancy fees|-|2,474|2,474|2,518| |Cost of trustees' meetings|-|-|-|29| |Premises costs|-|322|322|804| |Postage|-|1,670|1,670|1,725| |Other finance costs|-|255|255|1,377| |Operating lease rentals -|-|-|-|11,000| |property rental||||| |Insurance|-|589|589|616| |Internet|-|875|875|503| |Light and heat|-|661|661|201| |subcontractors|-|-|-|825| |Rates|-|25|25|-| ||**4,761**|**32,965**|**37,726**|**69,131**| ||**4,761**|**32,965**|**37,726**|**69,131**| ## **5. Net income/(expenditure) for the year** This is stated after charging/(crediting): Depreciation of owned fixed assets Accountancy fees Operating lease charges - hire of plant and machinery |**2020**|**2019**| |---|---| |**£**|**£**| |83|104| |2,474|2,518| |-|11,000| ## **6. Staff costs and emoluments** Total staff costs for the year ended 31 December 2020 were: Salaries and wages |**2020**
**£**
26,094
**26,094**|**2019**
**£**
27,327| |---|---| ||**27,327**| 8 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 VISUAL IMPAIRMENT NORTH EAST Notes to the Financial Statements Continued For the year ended 31 December 2020 ||**2020**|**2019**| |---|---|---| |General staff|2|2| ||**2**|**2**| ## **7. Trustee remuneration and related party transactions** Key management personnel of the association compromise of Executive Committee. No payments have been made to memebers of the Executive Committee in respect of remuneration during the year (2019: £nil). No expenses have been reimbursed to the member of the Executive Committee during the year (2019: £nil) During the year one Trustee (Jonathan Bramely) received employment income of £20,650. There are no other disclosable items in the year. ## **8. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. ## **9. Tangible fixed assets** |**Cost or valuation**
At 01 January 2020
Additions
Disposals
At 31 December 2020
**Depreciation**
At 01 January 2020
Charge for year
At 31 December 2020
**Net book values**
At 31 December 2020
At 31 December 2019|**Land and**
**Buildings**
**£**
114,352
340
(500)
**114,192**
-
-
**-**
**114,192**
**114,352**|**Computer**
**Equipment**
**£**
2,826
-
-
**2,826**
2,411
83
**2,494**
**332**
**415**|**Total**
**£**
117,178
340
(500)| |---|---|---|---| ||||**117,018**| ||||2,411
83| ||||**2,494**| ||||**114,524**| ||||**114,767**| 9 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **10. Stocks and work in progress** |Stocks of raw materials
**Debtors**
**Amounts due within one year:**
Prepayments and accrued income
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2020**
**£**
18,949
**18,949**
**2020**
**£**
721
**721**
**2020**
**£**
323
3,849
1,457
**5,629**|**2019**
**£**
12,107| |---|---|---| |||**12,107**| |||**2019**
**£**
523| |||**523**| |||**2019**
**£**
-
700
1,402| |||**2,102**| ## **11. Debtors** ## **12. Creditors: amounts falling due within one year** ## **13. Movement in funds** ## **Unrestricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| |---|---|---|---|---| ||**01/01/2020**|**resources**|**resources**|**31/12/2020**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|175,677|56,501|(37,726)|194,452| ||**175,677**|**56,501**|**(37,726)**|**194,452**| |**Unrestricted Funds - Previous year**||||| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/01/2019**|**resources**|**resources**|**31/12/2019**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|184,259|60,549|(69,131)|175,677| ||**184,259**|**60,549**|**(69,131)**|**175,677**| 10 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **14. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General
**Previous year**
**Unrestricted funds**
_General_
General|**Tangible fixed**
**assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
114,524
79,928
194,452| |---|---| ||**114,524**
**79,928**
**194,452**| ||**Tangible fixed**
**assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
114,767
60,910
175,677| ||**114,767**
**60,910**
**175,677**| 11 of 12 DocuSign Envelope ID: 5B6CA25F-A4F2-4ABE-9841-C3C6E30030B3 ## VISUAL IMPAIRMENT NORTH EAST Detailed Statement of Financial Activities For the year ended 31 December 2020 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Grants receivable
**Charitable activities**
Sale of simulation packages and videos
**Investments**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Cost of sales of simulation packages and videos
Grant funding of activities
**SUPPORT COSTS**
**Management**
Management
**Governance costs**
Governance costs
**Total resources expended**
**Net Income**|**£**
**2020**
26,081
**26,081**
30,276
**30,276**
144
**144**
**56,501**
(4,761)
-
**(4,761)**
(26,177)
**(26,177)**
(6,788)
**(6,788)**
**(37,726)**
**18,775**|**£**
**2019**
-| |---|---|---| |||**-**
59,904| |||**59,904**
645| |||**645**| |||**60,549**
(18,916)
(3,290)| |||**(22,206)**
(27,431)| |||**(27,431)**
(19,494)| |||**(19,494)**| |||**(69,131)**| |||**(8,582)**| 12 of 12 This page does not form part of the statutory financial statements