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Charity number: 518308
VISUAL IMPAIRMENT NORTH EAST
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2024
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VISUAL IMPAIRMENT NORTH EAST Contents Page For the year ended 31 December 2024
| Report of the Trustees | 1 to 3 |
|---|---|
| Independent Examiner's Report to the Trustees | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
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VISUAL IMPAIRMENT NORTH EAST
Report of the Trustees
For the year ended 31 December 2024
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2024. 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).
Chair's report
The Trustees are responsible for preparing the Trustees' report and the accounts in accordance with Charities Act 2011 and United Kingdom Generally Accepted Accounting Practice.
The Charities Act 2011 requires the Trustees to prepare accounts for each financial year which give a true and fair view of its financial activities during the year and of its financial position at the end of the year. In presenting those accounts, they are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP FRS 102;
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make judgements and estimates that are reasonable and prudent;
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follow applicable UK accounting standards and the Charities SORP FRS 102, disclosing and explaining any departures in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to do so.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011 and with the requirements of the Statement of Recommended Practice 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 (FRS102) (effective 1 January 2015) - Charities SORP FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities besides the above responsibilities.
This report was approved by the trustees on 16th May 2025
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
This year we continued grant giving in the year, and am happy to say we handed out £3000 in grants.
This financiial year we have been able to build up our cash reserves which currently stand at £261,525 (£116,187 2023), this is an improvement of £145,338. It should be noted this is due to the generous donation by the Late Fred Hodson.
Grants are approved for payment either by the full membership at the Annual General Meeting or the Executive Committee at other meetings.
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VISUAL IMPAIRMENT NORTH EAST Report of the Trustees Continued
For the year ended 31 December 2024
Significant activities
No significant activties occured in the year.
FINANCIAL REVIEW
Development during the year and the position at 31 December 2024 are as shown in the attached financial statements.
Income for the year was £208,135 (2023: £75,254) and the surplus for the year was £141,141 (2023: £19,813).
Further information regarding the activities of the Association during 2024 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.
Reserves
It is the policy of the Association to maintain funds at a level which equates to approximately 6 months
expenditure as welll as a spare reserve for estimated future building works of £60,000. Based on current activity this gives a target level of £100,000 which we were able to achieve this year.
At 31 December 2024 the charity held unrestricted free reserves of £246,240 (2023: £242,625) and designated reserves of £137,526 and cash reserves of £261,525 (2023: £116,187)
Going concern
Risk management
The Executive Committee have examined the major strategic, business and operational risks which the Association faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
The main risk is the unique nature of what the organisation does and the ability to retain and recruit staff.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Association is managed by a voluntary Executive Committee.
The members meet at least three times per year to assess grant applications. Members of the Executive Committee are appointed at the Annual General Meeting for a three-year term.
Recruitment and appointment of trustees
New members are invited to join based on their contribution to the work of the Association. New members are appointed by existing members.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity VISUAL IMPAIRMENT NORTH EAST Charity registration number 518308 Principal address 29 Westoe Road South Shields NE334LS
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Paul Garvey Mr Jonathan Bramley Independent examiners Beach Accountants Limited Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ
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VISUAL IMPAIRMENT NORTH EAST Report of the Trustees Continued For the year ended 31 December 2024
Bankers
HSBC plc 110 Grey Street Newcastle Upon Tyne NE1 6JG
Approved by the Board of Trustees and signed on its behalf by
............................................................................. (Po.E147638AAA114FD... by: 16 May 2025
Mr Paul Garvey
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VISUAL IMPAIRMENT NORTH EAST
Independent Examiners Report to the Trustees
For the year ended 31 December 2024
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2024.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.
Beach Accountants Limited
Chartered Certified Accountants 10 Blue Sky Way Monkton Business Park South South Tyneside NE31 2EQ
16 May 2025
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VISUAL IMPAIRMENT NORTH EAST Statement of Financial Activities
For the year ended 31 December 2024
| Notes Income and endowments from: Donations and legacies Charitable activities 2 Total Expenditure on: Charitable activities 3 Total Net income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 137,576 70,560 208,136 (66,213) (66,213) 141,923 242,625 384,548 |
2023 £ 446 74,808 |
|---|---|---|
| 75,254 | ||
| (55,441) | ||
| (55,441) | ||
| 19,813 222,812 |
||
| 242,625 |
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VISUAL IMPAIRMENT NORTH EAST Statement of Financial Position
As at 31 December 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 8 | 116,261 | 116,780 |
| 116,261 | 116,780 | ||
| Current assets | |||
| Stocks | 9 | 17,554 | 11,417 |
| Debtors | 10 | 1,060 | 8,268 |
| Cash at bank and in hand | 261,526 | 116,187 | |
| 280,140 | 135,872 | ||
| Creditors: amounts falling due within one year | 11 | (11,853) | (10,027) |
| Net current assets | 268,287 | 125,845 | |
| Total assets less current liabilities | 384,548 | 242,625 | |
| Net assets | 384,548 | 242,625 | |
| The funds of the charity | |||
| Unrestricted income funds | 12 | 384,548 | 242,625 |
| Total funds | 384,548 | 242,625 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr Paul Garvey Trustee
16 May 2025
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VISUAL IMPAIRMENT NORTH EAST Notes to the Financial Statements
For the year ended 31 December 2024
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:
Plant and machinery 20% 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.
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VISUAL IMPAIRMENT NORTH EAST
Notes to the Financial Statements Continued
For the year ended 31 December 2024
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
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Unrestricted funds | ||
| Charitable activities | ||
| Sale of simulation packages and | 70,560 | 74,808 |
| videos |
3. Costs of charitable activities by activity type
| Activities | Grant funding | Support costs | 2024 | 2023 | |
|---|---|---|---|---|---|
| undertaken | of activities | ||||
| directly | |||||
| £ | £ | £ | £ | £ | |
| Support costs | |||||
| Charitable activities | |||||
| Charitable activities | 15,287 | 3,000 | - | 18,287 | 14,628 |
| Staff costs - wages & salaries | - | - | 38,967 | 38,967 | 32,027 |
| Accountancy fees | - | - | 2,287 | 2,287 | 2,470 |
| Premises costs | - | - | 317 | 317 | 349 |
| Motor and travel expenses | - | - | - | - | 6 |
| Postage | - | - | 609 | 609 | 827 |
| Other finance costs | - | - | 1,667 | 1,667 | 1,049 |
| Insurance | - | - | 888 | 888 | 819 |
| Internet | - | - | 931 | 931 | 1,005 |
| Light and heat | - | - | 1,276 | 1,276 | 983 |
| Subscriptions | - | - | 602 | 602 | 468 |
| Rates | - | - | 382 | 382 | 810 |
| 15,287 | 3,000 | 47,926 | 66,213 | 55,441 | |
| 15,287 | 3,000 | 47,926 | 66,213 | 55,441 |
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VISUAL IMPAIRMENT NORTH EAST
Notes to the Financial Statements Continued
For the year ended 31 December 2024
4. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| This is stated after charging/(crediting): | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Depreciation of owned fixed assets | 519 | 648 |
| Accountancy fees | 2,287 | 2,470 |
5. Staff costs and emoluments
Total staff costs for the year ended 31 December 2024 were:
| Total staff costs for the year ended 31 December 2024 were: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Salaries and wages | 38,967 | 32,027 |
| 38,967 | 32,027 | |
| 2024 | 2023 | |
| General staff | 2 | 2 |
| 2 | 2 |
6. Trustee remuneration and related party transactions
Jonathan Bramley being employed as a finance manager and heads up operations of the charity gets a paid salary of £31,433.
Apart from the above there are no other disclosable transactions with trustees.
7. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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VISUAL IMPAIRMENT NORTH EAST
Notes to the Financial Statements Continued
For the year ended 31 December 2024
8. Tangible fixed assets
| Cost or valuation At 01 January 2024 At 31 December 2024 Depreciation At 01 January 2024 Charge for year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 9. Stocks and work in progress Stocks of raw materials 10. Debtors Amounts due within one year: Trade debtors Prepayments and accrued income 11. Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
Land and Buildings £ 114,192 114,192 - - - 114,192 114,192 |
Plant and machinery £ 3,727 3,727 1,294 488 1,782 1,945 2,433 |
Computer Equipment £ 1,242 1,242 1,087 31 1,118 124 155 2024 £ 17,554 17,554 2024 £ - 1,060 1,060 2024 £ 245 9,312 2,296 11,853 |
Total £ 119,161 |
|---|---|---|---|---|
| 119,161 | ||||
| 2,381 519 |
||||
| 2,900 | ||||
| 116,261 | ||||
| 116,780 | ||||
| 2023 £ 11,417 |
||||
| 11,417 | ||||
| 2023 £ 270 7,998 |
||||
| 8,268 | ||||
| 2023 £ 5,177 3,651 1,199 |
||||
| 10,027 |
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VISUAL IMPAIRMENT NORTH EAST
Notes to the Financial Statements Continued
For the year ended 31 December 2024
12. Movement in funds
Unrestricted Funds
| Designated Late Fred Hodson bequest fund General General Unrestricted Funds - Previous year Designated General General |
Balance at 01/01/2024 £ - 242,625 242,625 Balance at 01/01/2023 £ 222,812 222,812 |
Incoming resources £ 137,526 70,610 208,136 Incoming resources £ 75,254 75,254 |
Outgoing resources £ - (66,213) (66,213) Outgoing resources £ (55,441) (55,441) |
Balance at 31/12/2024 £ 137,526 247,022 |
|---|---|---|---|---|
| 384,548 | ||||
| Balance at 31/12/2023 £ 242,625 |
||||
| 242,625 |
13. Analysis of net assets between funds
| Unrestricted funds General General Designated Late Fred Hodson bequest fund |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 116,261 130,761 247,022 - 137,526 137,526 |
|---|---|
| 116,261 268,287 384,548 |
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VISUAL IMPAIRMENT NORTH EAST
Notes to the Financial Statements Continued
For the year ended 31 December 2024
Previous year
| Unrestricted funds General General Designated |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 116,780 125,845 242,625 |
|---|---|
| 116,780 125,845 242,625 |
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VISUAL IMPAIRMENT NORTH EAST Detailed Statement of Financial Activities
For the year ended 31 December 2024
| INCOME AND ENDOWMENT Donations and legacies Donations Charitable activities Sale of simulation packages and videos 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 |
£ 2024 137,576 137,576 70,560 70,560 208,136 (15,287) (3,000) (18,287) (39,486) (39,486) (8,440) (8,440) (66,213) 141,923 |
£ 2023 446 |
|---|---|---|
| 446 74,808 |
||
| 74,808 | ||
| 75,254 (10,828) (3,800) |
||
| (14,628) (32,675) |
||
| (32,675) (8,138) |
||
| (8,138) | ||
| (55,441) | ||
| 19,813 |
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This page does not form part of the statutory financial statements