Charlty No. 526088 {England and Wal•8) Galloway's Society for the Blind Annual Report and Flnanclal Statements For The Year Ended 31 March 2023 Qmha MOORE & SMALLEY
GALLOWAY'S SOCIETY FOR THE BLIND CONTENTS Cherfty Referenc and Plministratrie Detsils Trustees, Report IrKlependent Aud0$ Re[ to the Trustees Group Staement of Final ActThiitie5 13 Charlty Statement of Flnandd AdF¥liie8 14 Gr(p Balance Sha¢1 15 Charty Balance Sheot 16 Group Cash Flow Statement 17 Notes to the FlnancSal Statements 18
President The Flghl Worshipful The Mayor of Prestc Honorary Pr8shlents The Anglican 8ishop of Lanc4$1 The Roman Catholic Bishop of Lancaster The Chairman of the Methodbt Churth, North Lancashire Distrlct The Mayor ol Lancaster The Mayor of Ribble Valkny The Mayor of South Rib8 The Mayor of Wesl Lancashlre District CwrKil The Mayor of PenvrthaM The Mayor of Chorfoy Trustees Mr S K Booth- Chalrperson Mr J Bretherton- ChalrpWI Miss M Fecca - Tr8a$urw Mr J Ward OBE Mrs C J Holme8 MBE Mr A V Kimpton Mr8 Joanna Solankl Mrs Hannah Taylor Mr8 Ruth Cuthbort Chief Exe¢utlve Ollker Mr l J P8arson RegSstered Offl¢e H(ck Hou6e H0ck Park Avenue Penwortham Preston PR1 OLS Registered cWty wmber 526088 Auditor MHA Moore and Smalley Chartered ACC(nIan18 and Ststutory Auditor Richard House Wlnckley Square Preston PR1 3HP Investment ManageryJ Brown Shlpley 3 H8rdman Street Manche$ler M3 3HF Hedlgy & Co Slockbnkn Ltd 13b Winckley sJe Preston PR1
The trustees present thelr annual report arKI audlted financBI statements of the charity frx the yew ended 31st March 2023. The financial stslements have been wepared In acxordanc with the accountry wliues Set out in notes to the accounts and comply with the Charity's goveming d(Urn( the Charibes Act2022 and AxountirvJ and Reporting by Charifjes.. Statement of Re¢ommend&l Practke apF4icable to charl5 pyeparing their alxxiunts in ac£ordance th the Flnancjal Reportlng StsThJard th8 UK ar¥J Republ of Irekind {FRS102). The Soctety was establk8hed In 1867 ar#Y Is by a CA)nstitutiDn amended 14 August 2013. The charfty 1$ an Independent loc•1 organlsation with a physal presenc in Preston, Morecam, Chorfey and Southwrt. together wllh other local support groups thr(xJghout Central ar¥J Norlh Lan(86hire and North Sefton. It lial8e8 wlih many other natlonal and local chariti8S With 8imilar obJectNes. A prOptrn of th& lIdIng8 owned by t1 ¢harlty a lel lo other comm8rcW terlS indudiThJ IIK>SO from &ross all tOrS, whkh on occa8ion mplimants tho charity's work opwatM)nalty. Oblectlves and ActIVleS for Fljblic Benefft The truste85 confirm that they have refeThed to the Charity CLnmL88h)n's guidarKe on Publ benefit when revthving tho charity's airrffj and obpctives and in plannin9 future actfvftles. Tho purp08es of the charity as set out in the governing dcumont we lo.. PrOve facllltles for tho prewvalion of sighL Relleve the dl8ablrty of vlfyualfy Impalrwl perso1. The Slty endeavour8 to the objectives set (¥Jt ffl its Constitution a6 the drbviry force8 b8hlnd Ils dedslon maklng. Mlsslon 8tatement- Updated in4ine yth new ffiVyear stralegy {202212023- 202612027) 'To reach more pwle. bringing connects'on. cho8 and nfidence tor everyone affectsd by swJht lovJ.' Corg Sgrvlc•• Core services pmided by Chanty as part ol the 8tralegy meetlrwJ its charilable obje¢llve$ Induded key rvkes alIable to all In tho Swety'$ area of QFwakn.' Talking n6w8papers aThJ magazlros Equlpmenl domonstrath)ns and lvi¢e InfDrmation and guidance'8ign posting. Newsletters {senl lo everyon8 who opted in on Charws databa88) Equipment exhibitn3 Wireless for the blind fund {Yh)8rn appltaUe> Braille. audlo and large prlnt transcrfpthjn Hosplt81 Informath)n s8ce Llving with sight loss courses Outdoor activities w(yamme Access to four Sight A(fvice Centres Vision Assessments Varfou8 actfvity groups and leamlrwJ progranme8 The redudon of soch4 i801atk)n TethThJogy advice service Additlonal S•r¥ke• A¥lable to people in several fAJtyiThJ lo¢atk)ns and open to an sep41ce ugers:
Social club'pJsuFyort groUp&lacliviboU1Ing&l Voluntary vl5itint8IePhone cx)n&Kt Bèfriending telephone sep4i¢e On8 off entS and exhibitior Training Home visits Resource Centrg vIts Transport Independent Ilviro accA)mmodatK Engag•m•nt and Outr&8ch Ser¥lc•• Events and 8CtNiti8g undertaken to raise awareness and Im0¥8 mainstream servi¢e5 for blind and partlal slghted people. Th8 list is not exhaustlve but includes engaging with: Schools. 1laison8law¥eSS trakninwevents Disability access grc4Jps Inter-agency partnership8 The Lancashire Vl Forum The Sefton Vl Forum Lancashlre Eye Health Netvnjrk Fundralslng Publi¢ Vlsion Matters- N8tk)nal Eye He8llh Week Local Authoriti88 and Dlstrlct CnCIl Clinical CommissloniNd Groups The services offered by the charty are wlmHy for bllnd and partially slghted people. but support18 also glven lo people with pan4isabilitie8 and joinl wjrklng o(xurs with peoFlg of all ages and ablllties. The charity routlnely engag68 wilh partner8 gcro88 afi soctors wlth a key focus on othw charltatAe (ryardsathTh. G•ogrnphlul Rh Thg Charity's maln geogrnFthical ar88 of operatbn 18 from Camfoth arKJ the Cumma bor(ler In the north to Om13klrk and Soulhwt and parts of Sefton in the south. The areas lo th8 8asl and west of LancashlTe are supported by other $lmllar 80cieties txrt due lo its Size and range of servtts, it is common for people from atto85 the County. aThJ on occaslon Country. to access the charity's services. Many ofthe society's talking newspapèrs are despatched to varknJ8 Parts of the UK. Headlln• Achl•v•m•nts In 2022123 The charlty began delwing Its fivfryw stratew the 1st Awll 2022 tfiich aims to", Reach more people. Bnng connectlon. ctmiice and conmence. Deliver the best outcomes for p80ple affecled by $thl10sS. Develop the capacty and irrfrastructure of Ihe organisatK)n to athleve ch,5 ambitN)n. Furthemiore, a new MISon was adopted 89 praviousty refererKed, "To rexh rTv)re people, brfngtng connection. choice and ffidence for everyone affected by sght loss." In doing so, the charlty started making the transition from tradrfional service delNery, rellanl on people attending tts buildings, to a more community-baged m(xlel ublising face to fxe and online channe18 to athleve its aims and to primarily rne Ild and partialty Sighted p80pIe. FOundaonal progress was Tnade acros8 the re[ing perM)d and vlll ¢ontiNe as Ihe charY heads Inlo the second year (202312024) of it5 strategy. To suptM)rt strategy. the charity completed a root and branch pay and reward review to strerW)an its alilty lo recruit and retain staff wfthln a partbjlaty challen9ing employment market. The review [pOSed severa key changes which will come into effect from the 1st April 2023. Changes
indud8 the introduthon of pay bands and KY0w$n polnts, Inceased alal leave entiuement and greater flgxibilty thrcwh revised hybr#J and 1]eble w)rking pJKles. Progress was also made relating to strategt revi of the char1,8 Current al Structu lunlncory)oraied). it8 propgrties and investrnents to strengthen 9ovemarK arrarrnents and maximis8 Ihe use of thwllalje a88el8 and resources, reypectivety. Using available data, the charitys Servlces am began mapping key kxations across LaaShire and Sefton whereby the charity's seThices could achleve the greatest imwL In tum the charity developed ne4V partnerships to as$i¥l delivery against its Strateg aims. The year also VAl$Sed the re(xuf(ment of addilinal staff lo bolster capa¢ity. Wider outcomes Yuded (tKrt are not restricted to): Communlty S•r¥l¢o•: Exceeded the annual tsrw of 6.48019.040) for number of people rerrving support by 28% Achieved 98% of annual tsrget of 500 {492) for number of new referrals {people new to Galloway's) Exceeded total Eye Cllnk Ualson Officf Int8ractKin8 annual target of 1,05011.891) by 56% Exceeded lolal InformalK)n and guidarth annual tsrget of 1.020 {1,eo21 by 64% Exceeded target of 420 {4941 number of l(M Vision assessments delivered by 15% Ex¢Èeded total number rrf dYJital and tdeph)ne interactions 2,70013,2301 by 16% Loamlng Sklll8 and Llf••tyl••: Exceeded asslstfve tethndogy sUppt sessions 2401715) ty 197% Exceeded gel a¢tNe $essA)ns 72 (1481 by 10S% Exceeded get actNe atteThJee$ 500 (929) ty 86% Peer to peer support 9p8 taknTrJ shape across Commun88 with tho addlon of volunte8r8 hotstlng coffee mtynlngs In SouthFth. Omiskyk. Lanca818r and Preston. Incr8ased capaclty wlthin the LèamirKJ sk15 and Lrfostyle Team to deliv6r kncnased Nmbers ofa8818tfv8 leKhnology ses¥ions. Gel Active increased the ran90 ol aclith8 on cts $u¢h 88 vhualtry Impalred tenni$, Indoor cllmbing and taster 8essw)n5 for gliding. Activlty so WKauded g1 (drt¥lng range based) arKI loint worklrYJ wllh Bdth Blind Sport in Sefton. Incom• G•n•rntlon: Progress agaln$t a880clated targets aThJ plans wa8 advwsety 8ffeGted due to a varw of causes, notably ongolng rvitmenl chalknges wlthln Income Generation ar¥J Communkations hovthier, the po85tn stsbllised towards the latter part of the year. The costd4Mng ctsl8 per815ted and iru)me gener8llon frfm ¢omnwnty events and WI1¢ ghlrvJ agaln proved Challenglng due to widegpread Iwhlening of dk8¢retionary spernllng- Indudlng chwitable donations. Don8llons, legades and fundralslrwJ a¢llvltles underperfornied against 202112022 outturn8. coup wlth sustained1088e8 trn Yla the ¢harlty's InveStnt portfolK). 2022r2023 was indeed a harsh climate. The carity rect8d complalnts about furKlral8bng in th8 year 2022r2023. Communl¢atlon8: Foundatlonal work was undertaken to review the Cha5 MaetIng and cLvnmuni¢ations ami and work commenced to revise the brand guidelines, markebng to(Akii armfj assocL91ed onllne and offline collateral with the 8UPPOrt of extsm81 expwlise. The benefrts of whth 5hwld flow Ihrwgh and pay dfvklends wrihin lh8 fdlowng fironcial year.
Central R•sources In addition to the strategic ¢harvJes mentloned above. whKh witnèssed addilional re80urce8 being devoted to Central Resources in the form of streThJihening Finance fvnCn. Human Resources. Data and Compliance and Farylitses. which erbled the charity to a¢hleve some key infr8structurdl mmestones. Team successfully rolled out a HR system (Youmanage) to ensure data 58 captured and managés appropriately. This also enabled the ¢harty to be more paperte$$ wrthin th8 HR fUnct)n. Towards the end of the financial year. work5 Started to upgrae the ICT and teleptrw from the existing systems whkh some what restricted u8 from supportiThJ the Charity's approach communlty delr¥ery. The year saw 8 gradual lTrxease in lenancie$ aThJ rty)m hye and the team focused on strengthenlng the procedures wourMI tenanclgs and hlre. Operation8lly. vdunteer numbern showed SIgr of irryrovem&nt with the numtr of'aclve, volunteers hcreasing to apKYoxlmately 260 arisirvj from the Concert effort of the Vdunleer Ccffllnator. It 18 al30 pleaslng to note that no dats breaches crf health arKI safety ches were reported acros8 the year. Plans for th• futur•- 202312024 The charity wlll continue to make progre¥s In Support of ts strategic almy and crudally, wlll strive to Increase income and manage overdl ch8ritable expendtiure lo erode year on year operating deficlts. In(xeased Ino)me18 cruchql to the thadty's firture succsses bul wll be challenging to achlev¢. primarly due lo the cO$t-11¥1n9 uisls arKI it8 Impact M publlc 9Ing. In 8UPm 0fchartta6 incoTh. nv•V income gerwath)n aThJ (x)mmunutw)n$ Strateg8/plans wlll be Implemenled to support diverse Irthm8 ¥lream$, increased fvThJralslw and greater brar¥J awaren888. Addlllonal re¢wllment wlll 8180 take place. charlty'8 investrn)ts vlll be 8crutinl¥ed to a greater ylebdrtotal relum wherè pos8ibla. and the Imiestmenl Pdl¢y wlll al80 be rev1. In a 8lmllar veln, chwlty wlll carefulty mgnage experrfjlbn In41n8 vAth Its Strateg Intent. Th18 WHI Include a revlew of the charty's proper and a&)ciated operab'ng costs to ensure they are fft for puryx>se and r8pre8ent b8sI v4ue in browJe8t 8en88. Work will continue towards modemising the charlty's InfrastrucbJre incl11 ICT and telephony, amng8t oth8r areas, utilising doud based and aglle solutions. To track overall byogres8 and effecllveness. n8w key perforniar8 indicators wlll be adopted lo help mon(tor outputs. wtcomes and imrt aTrJ thwae wlll b8 revlewed xross all level8 of charfty lo accountakn'lity and offectfvene88. The charity's vision, mbsion and values will a150 be a88e88ed and upJatedlreviBed as necessary. FInda1 Revlv Tot4 group funds as al 31 March 2023 vffjre £7.983.694. Overall resources have decreased by £1,132,885. PrInpaI funding sources Indudlrvj legacies, fundraising inme. donal*)ns and Investment income have supported the key objectives of the ¢harity in sustaining runThng (x)8ts and ¢¢nUe to fund the current $ervl¢as on offer. M$nagement accounts enable the charTty to dosdy monitor arwj cwefiAty manage all a8t6 of its in(xJme arml expendRure. both monthly and quarterfy. and these we 4$0 s(¥uiinised by the Treasurer prw to r8vMv at Ihe Finance and Inveslment SubGomrnittee. The monitoring offunding and a successfijl fundraisiThJ team is an ImFrf)rtant Part ol the ¢harity'$ work and without these sources of Income Ks abillty to maintain several proieds V•wld be in dwbt.
The charity remalm apwe¢latl¥e of all hs fundiro b(xlies. charitab Trusts. Integrated Care Bwd and its mary loyal supporters arKI tknnors. Inv•thm•nt Poliey and P•rfornian The charity's primary Investment Nonagers IBron Shpley) are Kistructed lo produce best financial retum Itolal retum) wth a medium levd of risk. The inyeslment obJ'ectNe 15 to gerwate a retum In exce88 of infiation over the long tem), whilst generallng an irrne to SUPM the ongoing a(thityes. The Finance and Investment Subcommlttee receives from Br(Avn Shipley at their quwtsrfy meetings lo review performance of the Investrnent P01k) arKI risk veas duly raised vthh the Board of Trustees a8 necessary. Inveslment perfonnance Is also o)vered vla the new set of Tier 1 (Board) aTrJ Tler 2 {Subcommitteel Key PerfonnarK IndlcatW3. Dudng the year the Investrn8nts have Ixoughl fft an inl* of £143,158 which VAS below budgeted Inve8lmenl Income. The market value of Investments Is £S.056.665 ag at year gndiw 31 March 2023. The movement in fthd asset Investments Is shown In note 13. Rlsk manag•mMt Trustees are ever rnindful of wtenlial risks to the cryanisal#)n aThJ regularty revlthv kfjy rlyk area8 8t B08rd and subcommittee levels. Furthermore, trustees rtyrtitWy rev and pTcures. ensuring that 811 risks to tho organi5alion are mitigated as far as poss¢ Ilyough sound protocols. In SUPFQrt of risk management, profes¥ional advlGe 1$ obtained g>0ss a variety of areas from Insurance, Investments, Hoalih arKI Safety and Employment matter¥. Apwopriate levels of Indemnty InsurarKe are also in pla¢0. R•••rv•8 poIIcy Total funds held as of 31 March 2023 £7,983,694. balarK8 hekl as unrestrKled reserves as of 31 March 2023 was £2,179.372. ofwhich £1.771.058 Is designated (rth 17). Freo reserves as al 31.03.2315 £381.861. The tfuslees aim lo malntaln free reserves in ur¥estricted fUJ$ 81 a leve5 1¢h equates lo approxlmatoly three monlh6 of unre$trlcted charhable experyjiture. Free reserves 8131 March 2023 are In line vAth th18 policy. Trustees acknowledge that the deficits rep(¥twJ in tho year we part of the 8tr8teglc sAan and the alm L8 to move to a surplus Posltion in several years. In additlon. total funds indude.. Imiestment furKls £4,636,984. These are shares held In the investment por01) to generate income for the operational needs of the charity. The valua of th8 fund it8eif can only be realised by dispos1 of the related investrnenls. Restr¢cled funds £411,825 Permanenl endowinent fund £755.513 Slru¢tur•, gov•rnanc• and mwg•m•nt The dmrity is managed by a Board of Trustees wlth daY-tdaY mwapornnt antrusted to the Chi8f Executivo Offwr and Senior Leadership Team. The Board of Trustees, Finance and Inveslment Subcommittee and Propety Sut¢ommittee meet every quarter Imlrroring the finarKd year) lo Coler reports wepared by Chief ExecutNe ortlcer and Senlor Leadwship Team. The Iruslees Ilsted in charity delails have been appointed in accordafKe wlth the con8titLrtw)n whlch st8188 they shall consist of up lo 12 competent person$. four of whom shall be apwinted each yèar and gerve for three years after which lime fv will be eligible for rtrelection. Vn(¥8S occuring among trustees may be fille(1 by the trustees and any such person so ¢hosen shall retain his or her office 80 kjng onty Ss the vacatlng member would have retsined the same rf no VaY had 0(rred.
In line wlth the ¢onstStulkin. trustee5 appoint a Chaimian. Chaini8n and Treasurw annually along8ld8 a trustee with lead respOnbIlIty for property lated matters. Four trustees act as the Finance and Investment Subcommittee with responslblllty for stralegK finan¢o1 affairs and four trustees act as th8 Property SubGommitt8e wf(h responsibility for strateglc propety and facilrty lated activity. Pollclos and procodur•s for th• appolnlmenL Indudion •nd trnining of tru#t•8• The charity continues lo act In accordance with its pol and [15 in rdation to tnjslee recrultmen( Induction and ongoing Iraining. No alditional trustees were recnjiled within the rerx)rting perh)d. As nec8ss8ry.' 811 new trustees are asked to sign a ed8n under the Ch8ritie$ A¢1 2022 confirming that they are eligiLqe to serve as a Trustee. A Trustee Induction Padt is then rosued which Indudes information from the Chanty Commission ardIng the rokrys and responsitmlrties of trustees, the chartty's StrategK Plan, Organisatn81 Strudure and varths other p0cleS and inf0mtiOn. Tru8tM and manag•ffl•nt p•r•onnd remuneratlon JI trustees glve ther time freely and rK) Iw$toe remunernlion wa6 pakl In the yew. Trustees are fequred to dl8dose all relevant (x)nfiicts of Interost before all Inte8 meetlngs. these b8lng foallY rerded where necessary. and regi$iered with the Chlef Exe11 Officer and. In xcordance wlth the charty's poliw. withdraw from deci8kn Wre a Confi1 of intwtsl arlses. The pay of the charity's ChK9f ExeeJJtNe and Senior ManeMent Team L8 benchmarked at the lim8 of appointment and 18 revlw•ved pwodully. The last revlew belng completed as wt of the wlder pay and r8ward review wilhin the rep(wtlrvJ P. Slaff, volunl••r• and b•n4llcl•rl The ¢harlty eThJeavour¥ to knFlement which flllate swrStyofemployment, a 8affj worklng envlronmant, appropriate remuneration and con$lder Ihe vithys of pakl employees and volunteers. Slaff and volunteer support Is vlthved as crttlcal. In support of staff management and development, a new online HR system wa5 Introdu to replace oldw mor• antlquated sy818ms. This rthv apY0ach has greally Improvtrj several HR woces5es, induding bookin9 annual leave. TOIL. tracking absence and staff tralnlTrJ and devdopment. HR support h88 been 81igned wlth Voluntng and tho charty has woojrwj additK*nal oxtemal capacty to 1£1rd key HR related work. The charlty18 Immen8dy thankful for the ¢A)nlinued supp(Yt of over 270 voluntoers wFM> h•lp wlth many xllvltk$ and servths including talklng newspaper recwdiNJs. stre8t and store edthtions. fundralslng ovents, mlnlbu8 drlvlng, ¥iting. ruming 8UPP(Kt groups. administration and reception and outdoor pursuts. AJI employees are appolnled subj'ect to Iwo salisfactcry refererc and where approprkte a Di¥cl¢)sure and Barring SoNice (D8S} check. Additionalty. all vdunteers receive appropriate inductbn and are offered ongolng training. The charity rdate8 to benefarleS in a numbw of ways. vi& dYe¢l servKxs. user woups, newgletters v8rfou8 fomats. the Amual Report and the Annual MeetlryJlConfwm. The oplnkn8 of beneflaneS drrrfe the development of servi¢es. arKI th15 Irrfrntion 1$ oJle¢ted through formal maetings, survey5, feedbad( f¢Yms. one to one dis¢ussM)ns and social rthorks. Involving beneflclaries in planning and delivwy of servtes Is key to the charity's lIre. This has and continues lo be a focus across all area5 of the tharity.
io Subsldiari•#: L•n¢¥8hiro Ifwion S•rvic•# Llmlt•d & Gall¢)way8 Ent•rprls• Llmlted (Note 11) The Soryety has Iwo trading 8ubsidirn. A summwy of the wults of both trading c¥)mpanies is shown In note 11 and the stabjtory aCcints for the respectrye comp8nies V•il be Iled the Reglstrar of Comp8ni8S. Four charty trustees act as Directors of the iwo rAMnponies and any asscKiated proffts of the trading subskllwles are Covenanted to the charity. Following hIstlC trends. Gallcway's Enterprise Limrted Year1 lbjrn demnstrates an overall k)ss of £32k and reports a net liabilty posit as at 31.03.23. Finances for GEL Ltd has been under Scrutlny and due lo consistent year on year defiats at GEL Ltd, work wa5 undertaken towards the end oflhe 202212023 financlal year to analys8 the cafè's income and exFndrture. The overall IntentK being to duce. or dlmlnate. the operating d8ficit moving forward and 80 far. the rW measure introdu¢¢d has been Suc$$fUl In ¢hanglng thlngs around. Lancashire VK8ion Servrces reported a small loss of £600 as at 31.03.23. Subsequenty. trustees made the decision al the year-end to transfer all 8clNities into the parent dty. From 01¥ April 2023. Lanoashlre Vlsion S8rvk8s remain a8 a dormant LX)mpany. Tru•tM•' Mspomlbllltlm In r•latlon to th• flnan¢l•l •tstww The chadty truste88 We responsible for weparlw 8 Iruslee8 rewl aThJ fhwKlal 8tatem8n18 In acxordance wth applicable law arKI Unrted Kilyd Accounting stand {Untsd Klryjom Generally Accepted ACCntIng Pracllco). The law appltable lo charltles In England arrfl Wales r8quire8 the Chty trustees to prepare financial statements for each year whlch gfve a true and Ir vl6w of the $tste of affairs of the ¢hwlty and of th8 inc4)ming resi>urces and appll&ilon of resrS of the chartty lor that rjeriod. In weparlng those finandal 8talements, the tnjslees are roqulred to: Select 8Uitable axounling pdicies and then apply Ihem ¢ons16tenlly. Observe the methods and FKinclple8 in the Charilies SORP. Make judgements ar¥J estimates that are reasonable and prudent. State whether 8ppIKable aLyx4Jnling standards have be fol¢Ad, 8ubloct to any malerf81 departures d18dosed and 6xplained in the financbal stsleffonts.. and Prepare the finala1 statements on the golrvJ corw t)a¥is unle$811 15 irpwwiato to th81 the charity bwll contknue In operation. The truslees are responsible for keopiffj a¢un11ng rwds tsl disdose with msonablg aCcrary al any tlme the financial posit*Jn of the charity and enoble them to ensure that the finarKi81 ststements comply wllh the Chorilies Acl 2022, the applKable Charities {Accwnts and Reports) Regulations and the provisions of thg Trust Deed. They a also resrwisible for safeguarding the 888ets of Ihe charty and taklrvJ r8ason8ble stepg for prevention aNI dete¢bon of fra1 and other irregularille8. Tru•t•M' rn•pon•lbllllle• In r•latlon to the flnanclal Stst•m (contlnu•d) The InJ8lees are responslble for the malnlenaTK¥ and IntwJrity of the charity and fin8rKial Snfomation induded In the charity's website in accordancè with legislatK n the Unibj Kmgdom governing the preparation WKI dissemin81ion of finanryal statements. Approved by the trustees on .... . and $igned on Iheir behalf by.. S K 8oolh- Chak lif Trustees
GALLOWAY'S SOCIEfY FOR THE BLIND INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEE8 Oplnlon We have audited the finarKlal statements of Galhxay's kniety For the BlirKI (the 'chariW) for the year ended 31 Marth 2023 which Compris the Statement of FirW81 Activitie5, the Balance Shee( the Cash Flow Statement and notes to the financial Stnts. includiTrJ a summary of swJnificant accounting policies. The financial reporting framework that has been applied in their preparation ts app1Kab law and Uniled KlThJdom Accounting Standards, induding Financlal Retij StsThYard 102 Th8 Financial Reporting Standwd 8ppllcable in the UK and Republlc of Ireland lun11 Klng¢xn Generally Ac£ounling Prxticel. In our onIOn financial statements: gNe a true and falr vl8w of the state of tho charws atraiTS as al 31 March 2023 and of btB incomlng reswrces and applKation of reswrces, IrKludlng its incomo ar expenditure for the yw then ended,. have been wopefty wgparwj in V41th Unlted Klngdom Genorally Awted Accounllng Practice,. and hav8 been prepared in &wdarKe wlth the wulrements ofthe Chartlles Act 2011. 8a•h for oplnlon We conducted our audll In accordance wlth Intemational Standards on Audlllng IUKI (ISAS (UK)) and appllcable law. Our responsibile$ under th080 standards are further debed in the Auditorfs resp)ngbililies for the audit of the finarla1 statements sIk of Ouf repLYt. We are Indgpendenl of ttro ¢harity Ni aceordan¢e wlth the ethkal requlremenls that are relevant to our audit of the financial statennts In the UK, induding the FRC'S Ethical Standard, and we have fuifiiiwj wr other ethical responsibiliti'es in accd9nce wth these requTrments. We bdleve that the audlt gvklenc8 V• have okAained19 8uffi¢i8nt and apwoptsle to provlde a bas18 for our oplnlon. Conclu•lon• rnl•tlng to golng con¢•m In audltlng the financial sLqtements. we have coluded thal the trustees, u88 of thè golTrJ concom basis of ar%ountlrvJ In lh8 weparation of Ihe finarKial slatements L8 approwi8te. Based on the vnvk we have performed, we have not identified any mat6rfal uncertainties relatlng to events or con¢Jltlons that, individualty or collectively, may cast signrftsnl d¢>ubt on the tharlty's abilrty lo continue as a going con¢8rn for 8 per*)d of at least Iwefve months from when the financkql slatements ar8 authsed for188ue. Our rospon8lbilitw and Ihe re8pon8iblitles of the tru¥te89 w4th respact to Ong 8ro d88crlbed in th• rebvant sections of Ihl8 report. Oth•r Inlormatlon The other Information comrrfises the InfLYrnatth included In the trlee$, amual report. other than the flnancL91 ststements and our auditols repjrt thereon. The trustees we T85ponslble for the other infomiallon contslned wlthin the annual rewt. Our opinK>n on the financial statements does not cover the other informatlon and, except to the exlent otheThvi5e explicttly stated in our port. do express any fCrn of auranCe conclusion Ihereon. OUT rgsponsltmlity is lo read the other infomiatlon and. in doiNJ so. con8Kler whether the other inforniatn 18 materially inconsistent v•ith the finarKial statemenls or our krKthledg8 obtairA in th8 coutse of the audit or otherwise appears to be m8terially misswed. If we identsfy such material inconsistencles or apparent material misslalemenls, we are required lo detemiine vthelher th18 glves ri58 to a material misstatement in the financial stalements themselves. If. based on the w(Yk have p8rformod. we condudè that there is a material misststement of thi¥ other inf(rnllon. we are wuired lo report that faGt. We have nolhing to report in this regard.
GALLOWAY'S SOCIEfY FOR THE BLIND INDEPENDENT AUDITOR'8 REPORT TO THE TRUSTEES {¢onllnu¢dl Mattor¥ on which wg arn r•quirod to r•port by •xcWion We have nothing to reFrfJrt in respect of the fdlowng matters in rdath)n to vthich the ctieS (Accounts arKI Reports) Regulations 2008 requiTr us lo repryl to you rf. in our opinn. tl IrrfcmalSon given in the ffinan $18tements Is Il$tt In any materlal restt v#tlh Ihe trustees. report., or the charty has not kept sufficMrt ac(unt r4)rS,. or thè finarKkn4 $latomerts are not in aweomont Vth thé atunting records and returns or we have nol re(fved all the InflatIon arnl explanallons we requlre fLY our aLMlSt. R•8pon8lblllll•• of tr1• As explained more fulty in the trustees, responsibilities st8teThnt set out on page 8, the trustees are responsltle for the pTepwath)n of financia statements which gNe a true and far view, and for such Internal o)ntrol as the trustees determlne Is neSSary lo enable tho weparation of financlal 8tatemonts thal are free from m8lerlal ml88tatemenl. whether due to fraud emx. In preparlno the financial statements, the trustees are re8ponslbl8 for assessing the charrty'6 ability to conllnue a8 a going corKern, dtsdosing, as applicable, matters relate(I 10 g)ing corKem and u$lng the golng concern basls of accounllng unle$8 the truslees ellher Intend lo liquldate the chaflty ¢Y to cea6e oparatlons. or hav8 no reallsllc 8116mallve t1 to do so. AudltoV• Mpon•lbllltloB for tho •udlt of th• flnancl•l statomont• We have been appointed as auditor under section 144 (rf the Charfties t 2011 aTrY repcrt kn acccffdance wlth regLA8llons mad6 undèr 86Ction 154 of that Act. Our oblacllve8 are lo obtaln reasonable assura0 abtyjl vthether Ihe flnarKW 8talements as a whole are frea frcm malerial misslatemenL whether due lo fraud or error, and to issue an auditor's r8POrt that inclLtdes our oplnlon. Reasonable assurance 1$ a hlgh lovel of assuran¢e bul 1$ nol a waranlefj that an audit conducted In ac%ordan¢o with ISAS (UK) VAII always dolKt a maIal mIs$tslomt wn it oxists. Misstalemenls can arise from fraud or wror and are considored material rf, indfvldually or in aggregate, they could reasonably be exted to Innue8 the economic of u8er8 taken on the basis of these financial statements. Irregulwiues. Includlng fraud, are in8tancs of nOn•)mPlISnce *ith laws and regulations. We design procedures In line with our responsibilit, Iulned above. lo detecl material misstatements in r88pect of irregularilios, indudirwJ fraud. The specrfic procedures for this engagement and extenl to whth thes6 are capable of detecting irregularitie8, Includlng fraud 18 detaibod bel¢)w'. Enqulrles managemonL alrt any 5uspethd Instances of nonmpliar 7Mth laws and regulallons arKI fraud., Challerying assumptions and judgents m&Je by marwemrt In parucular In rolauon to fvturo performance in IvJht of the impKI of Covid-19,' AlItIng the rlsk of managemenl overrth of irKludlrvJ tlwough tesng joum81 entries and otl adjuslmenls ft¥ apw0ratene$s. Reviewng ¢Ofrespondence with the Care Qualty Commissim and the Ch8ritbe$ CommL8sbn', and Revmving board mnutes. W8 id8ntrf the followirvJ arga¥ as th)se most likely tt> havg a material impad on the financxal statements: employment law arKI complkqrtt with Ihe Charilies
GALLOWAY'S SOCIETY FOR THE BLIND INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES {contlnu•d) Becwse of the inherenl Ilmltstions of an audit. there 15 a rlgk that wlll rw)t det all kregularities. irKludlng those leading to a material mlsststemenl in finarKial ststements or non<omplianc with regulation. This risk increases the more that compllarKe with a law or regulation 18 removed from the events and Iransactions reflécted In the financial $latemenls. as we 11 be less likely to berne atKdre of instances of nOrFComianCe. The risk is also greater regarding irregularities occurrirKJ to fraud rather than error, as fraLKI Imiolves intentional concealmenL forgery. llUSIOn, omission m16rewe8tst. A fvriher d8sGriptv)n of our $)nSIbIlitieS for audit of the finarK4al statements is located on the Financial Reporting Couwl's website at. WV4¥.frc.Ixg.ukJaudit(Y8re8ponsknlilks. This desuiptr'on fom% partofoursuditorfs report. of our r•port This reFth is made sdely to the charity's trustee5, as a Ix#Jy. in accordance with Part 4 ofthe Charftles (Aco)unts and Repots) R8gulalw)ns 2008. Our audit work has ton undertaken so Ihal we mwJht stsle to the charlty's trustee$ those matters we are required to slats to thom in an auditors pOrt and for r0 Other purpose. To the fvllest extent permitted by18w, we do not accept or a$$ume reswnslblllty to aryone other than the chadty and the charity's tntte$ as a body. for our audit for thts reporL or for the opinkMs we have forméd. MHA Moore and Smalloy Statutory Auditor Rlchard H¢)use Wlnckley Square Preston PR13HP 1811 Y202_1 MHA Moore and Smalley is 91SgllAe to act as an 8udlk In ternis of 8ectlon 1212 of the CompanS88 Act 2006.
GALLOWAY'S SOCIEfY FOR THE BLIND GROUP STATEME1 OF FINANCIAL ACTIVMES FOR THE YEAR ENDED 31 MARCH 2023 2022 Fund• Cx)nalk)ns •vJ IWJ Charltabkn adMIJgB TT&Jing FundraIrg ac* 50.317 392.614 131.434 241,432 97,099 145,000 709,893 152,626 191,850 106,019 178,439 131.434 241.432 97,099 145,000 957302 50.317 1.1)07,579 1,33482T Expondltur• M: Chatsb ad R8181ng furn 1225237 299M3 28 39,017 13,7XI 1,298.000 1.073,373 2W.883 384.418 31,661 1,554,024 59,017 13,726 1,820,767 I,4,452 14•t 1n¢th•xP¥nthill b•lDrn I0.711) 18.700) (13.n61 1619,1M) {1,625) Net gdn8 on (513,OTn 1513,OT7) 89,187 farth• y•ar {W782} (513,ITT) (8,700) 111726) (1.131•85) (81,438) 16 452,142 14x1421 114620) (065,•19) (47frJ) 113,721) {1,131J851 f61.4W Tcd81 luThda 1323992 Stoi803 420,S¥J 789.239 •,116.6 9,17T.997 Z179J72 4.eN914 411.•25 755.513 7,983,094 9,116,559 All actT¥ilies are classed as contknulng activities. The stat of financial actpirtw indudes 811 galrts and losses recognlsed dudng the year. The accompanying acMuntirKJ WKaes arKI notes forni an iniwa pwt of these financial ststwnents.
GALLOWAY'S SOCIETY FOR THE BUND CHARITY STATEIAENT OF FINANCIAL AcfMTIES FOR THE YEAR ENDED 31 PAARCH 2023 nd funds Fu Ti•l Total 80,317 392.814 131A34 104.277 97.019 145,000 704.119 16Z628 89,gn) IN,019 178.439 Charitabb athib•s TrnJirKJ Fundr8ldrKJ 8th5106 131,434 104,277 Tolal Incor 83),107 50,317 870A24 1.231,173 Exwdltyr• . Ch8fitaLl8 R8i6lr£ fvrKJ 1,129,197 59.017 13,728 1301WO I,1, 197 226.301 330.679 28,884 31,661 Totsl •Xp•n(1rn 1J84312 ,017 13,726 1h57.12S 1.366.537 ¢Jth•r gdn• and Io•M• (584375) 18,7001 113,7X> {SBI701) (134384) 12 1513,077) (513,077) {134364) N•t InY•xpWthlrn) forth• >wr (8H275) (513,677 (Q71)0) 111726> 11.1W,378} (270.728) 4SI142 1451142) Not In fun (112.133) 1965MI9 1&71NJ) 113,726) {1,1ryJ,378) (2TO,728J 2.311 S.3.093 4X,525 769330 9,161.993 lo.082 2351.004 4,7,114 411M25 755,312 8.001,615 a311,861 I xtNitie$ are dassed as c#)ntinuing aclmtles. The statement of finarKaal xtivitb6 iaUdeS all galr and k>3588 recoJnised durlng the year. The aCmpany1g arunting FKAkles and Th>tes fomi an integral pwt of these flnancial statements.
GALLOWAY'S SOCIETY FOR THE BLIND GROUP BALANCE 8HEEr A8 AT 31 MARCH 2023 2023 2023 2022 2022 Flxed a61•ts Tangle assets Investsnents 11 12 2.962.820 5.056.829 8,019.449 3,042,965 6,086,910 9,129,875 Current a88ats Stock 2,131 110.867 36,360 149,348 13 66.396 33.178 102.101 Cash at bk aThl In hwKI Cr•dltorn: rdnounts falllng du• T*lthkn y•w 14 137 162.664 35,755) (13,316) Total M••t• l•M curr•nt Ilabllltl•• 7.983,4 9,116,559 Crodltorn: amount• falllng du• aft•r mor• th ono y•ar 7.983, 9,116,559 Charlty funds: Unrestricted furrtls Deslgnated funds Inveslment funds Endowment furyjs Rostrlcted lurKIs 102,306 1,747,726 4,966,326 755,512 411,825 1038604 1,907,573 4891192 782,964 Totsl fund• 16 7,983,694 9.116.559 flnarKaa1statsWereapDVvJtythetrUSlee8on........... ..... ................. S KBooth-Chalr Marla F•¢d- Trwur•r
GALLOWAY'S SOCIEfY FOR THE BLIND CHARrrY BALANCE SHEEr AS AT 31 MARCH 2023 2022 2022 Fix•d asMt• TarYJible assets 11 12 2.959,316 5.056.829 B.016.145 3,042,+16Q 6,087.110 9,129,570 CuTrent Debtors Cash at bank ar in 13 149.884 26.678 176,562 160.904 35.891 196, 795 Cr•dltorn: amnts famlng du• w#hln on• y•w 14 131.093 164,372 32.423 Total a•••t• Iw• rr•nt Ilabllhl•• 8,061,614 9,181,993 Cr•dllord: amounts f•lllng du• aft•r mor• than on• y•ar 4061,614 9,18t,993 Charty funds: Unrestrtcted funds D851gnated fiJrvJs Investment funds EndNmenl fiJnd8 R8strlcted furbJ8 155,414 1.772,338 4966,S25 755.S12 411,826 3,872 1,835,555 5603LX)3 769238 420525 Total fvnd• 8.061,614 9,161,993 ?o.l.i.i. la3 fln8nda statements appro1 by ts Inle83 on.... .. 8rJr¢d on thek behall by: S K B¢oth- Chalr F•¢d-Treasurnr
GALLOWAY'S SOCIEfY FOR THE BUND GROUP CASH FLOW STATEMEpir FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cuh flty operiwd •CtMU {6S7,$35) (,940) Cuh fl(w fr(xn Investlng actlvltl•• Net hknv from investments 654,353 494,673 Nat Incr•mde¢r03M) In cash and cuh •qulvth 13,182) (6.267) 46,627 Ca8h and ca8h •qulv•l•nts carTl•d ft>rward 33,178 Conslsts of: Cash at bank Cash In hand 31,839 1,339 34,887 f.673 33,1n R•conclllallon of cash IkM from opw*lng •rtlvkl•• Net Income for the year Investment Inci>me elled 11,132,865> (145,000> (61,438) (178,439) Net gain$ on inv•stnwts Dewecthn oftangitAe aets Derye0sirrea¥e) in sto Detteasel{irK¥ease) in debtc (Deuea$eywease In c¥editcKs 513,677 87,396 1396) 44,461 (24,808 {89,187) 86, 132 1,284 (31,422) 227,870 1657.535) (500,940) Cash frr•m Inv•gtlng adl¥lti Investrnent IrMme reNeI 145,000 178,439 14300,891) (4.477.171J 4,767.276 4,884.449 49.186 91,044 Cash released from Sa of investments (Increaseyd&re&8e in short tem deposlts 660.571 494.673
GALLOWAYS SOCIEfY FOR THE BUND NOTES TO THE Accoup4rJ FOR THE YEAR ENDED 31 MARCH 2023 1 A¢countlng poll¢l•s Ttrt svJnficant anting polrAes applied in the wep of It0 fina1 statem8nts Set rArt bd¢)w. G•n•ral InfornlI0n, bA•l8 ol prwrntim aBs••N of goirvj conc•rn. The address ofthe registefed 18 gTrMI in ts chrty irformknn on pag8 1 of th8se fInarla1 statements. The Ch constitutes a Publ berfft entity as d8fined by FRS 102. Th8 financial stalements have been epwed in aCrdarth with knntirJ arKI Rewfing by Chwitses.. Statemenl of ReMMeed Practir apkItrA8 to charibes Kyeparyu their cnts in xc(xdarKe wilh the Finala1 Repciting Standard appfiGabl8 In the UK and Republ of Ireld {FRS 1021 issued in Octijber 2019. the Financid Reporting Standard ap98 in the Unthl Klngdom arwj Republ d Ireland {FRS 102). tho ch&11 Act 2011. and UK GeneAIy The flnarrial stslements have been prepared to 9p 8 and fairf view and have departed from tho Charitie8 (AcLyJJnts al Rep)rts) Regulat 2(L)8 onty to the extent requlr8d to ryOVKle a Irue and lair vleyl. This departure ha8 invdved follw'rYJ Ac¥yrtI and Repthig by Chwiti8s prepariThJ th8Sr actounts in accordan v#tth the Flnanckd Rerortlng Starwjard appltsble in UK and Rewblic of Irdand (FRS 102) L8SLd in October 2019 rather than the Accountsng and Reportiro by Chaiiti88: Statement of Recommended Pracke effective from 1 P4Yll 2005 whth h85 slrtt been withdra. The fina81 stalemerts we prepwJ ¢)n a goirvJ (Xx£m ba815 under the hIStle4 C4)nvenlh)n. Mlfied to Inchjdo certaln al vaue. Tho fknanclal 8t8tèrn we wesented in 8terfiThJ lch l& functional currency of chorty and wp. The 81gnfflcant 8ccounWng in th8 prepwalK)n of these financial statements are set OLrt bdow. These pollcl88 have tsen ¢onslstently apPld io dl years wesented unless otherwise stsled Golng conc•rn The trustees are requtred to assess whelher use of goiNJ concern is appropria18, 1.8. whether there are ary malerk91 UrrtaInl0eS relaled to events or condli$ that may cast SpJnffjant doubt on the ablllty of the thwity lo contlnue a8 8 golng corwn. The truslees make this assessment in r8SP8(a of a period of at18a3t one year from the éate of aulhorisation of a¢UnIs. The UK oJrrenl flscal plans and Global events are nol nsIdered by the trustees lo b8 likely lo ryeal¢ malwFal uncertalntles In r6latlon to going concern. The truste8s and management have w plans in place to manage the sMuatSon aTKI monitor reseNes16velg. At the date of approving these ao)Junts. the trustees have a reasonalAe exptIon that the chanty wlll be able to manage the situation and that it hag suffrAent cash resourcw lo enable It lo me81 Its Ilabililies as IW fall due for al least 12 months from the date of apwoval. Thus, tho truslo05 contlnue to adopt lh8 golro wn¢em basis of aGG¢Junbng in prepar¥¥J the financial siateftwbts. Funds •truGtur• UnrgslJKled furKls are availe for use at the dis(¥el)n d Ihe trustees in futhran¢e of goneral Obct8$ of 8rKI whhth have TK)t been for othw wrposes. Designated funds comprise unrestrithd furth that have been sel asK18 ty the truste8s for partK¥lar purFoses. The alm and use ol deswJnated fund is set (xrt in the notes lo the finla1 statemerts. Restrthd fijnds are funds Vthh *e to be used in ¢darKe with restrictions imrx)sed by dcffior5 ich have been raised by the dwity wrposes. Thé cost of raising and adminislerir¥J such fvrKIs ¥e chwged agalnst the SriC fuThJ. Th8 aim arKI use (rf each restrthd fund iy set out In th8 fKrte8 to I fTrnclal statements.
GALLOWAY'S SOCIETY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2023 Accountlng pollci•• (e<xrtinu•d) Funds •truGlur• (conlinu•d) ErKlowment fUrS represwrt t1 assets mt be hekj prnnty ty th8 cknarity. lThxime arising on gndowment fiJrKls can b8 used in x%)rd with the of the tharity and L8 induded as unrestrKted irwm¢. Incom• r•cognhion I IncMing resources are iUded in Ihe Stateffnt of Ftr1 Athits {SoFAI %then the Ch is legal entitlad to the income after any FrfOrMan conditiorks have be met, the amount can be measured relkibly, arKI it is probaLle that th8 inrne will be re<x[¥. For dOnaOn$ lo be re¢crfJnBed the have been Twjffied of the amount8 and the 8etllement date in ting. If there are conditions atte to the donallon aTwJ thi5 requffes a kwel of perfomnce before erternent can b8 obtain&J, then IrKome Is deferrwj Lmtl trthe corrtiOnS we fulty m6t or the fulfilmenl of those ¢ondilions 18 with th8 cg)ntrd of the Chty, arKI it is #ble that they wll be lfilled. Donated tslliti88 and donaknj t¥de88lLYk4 ¥w¥k8s wo ro(ffjnlsed In Irynme at Ih8k fak value wtrn the e¢onomic benefrt Is probable, tt can be measured rdiaLty, arbj ¢hwlty h88 control over the Mem. Falr valu8 1$ de1emi1nfj on the bask8 of the value of the gft to the tharity. Fc exampb. the amc4Jnl the ch8rty would be wllllng lo pay In the open mkel for such fadlrties a1 seths. A COrresndIng amwnl is rQglS•d in expendAure. No amounl IB Induded In tho flnaw81 statoments for vdurthw tlm8 kn Iln8 vAth Ihe SORP {FRS 102). Further detall is gr4•n in the Tntste88' knnud Repo Ihlbere yactk4t4e, glfts In r1 dated Ic d[8tr1tlKjn to the benofwries of ts charty are irduded In 8t(Kk and donalons In the financ4al Statemts upon 1p1. ff knpKactKablo10 assess ts fak value at receipt or the costs to uTrJertake such a valualk)n outsvekJh any benefts, then the far value Lg rec(wJnised as LPent of donations Is dbtrllxjw eqUent amtyjnt I¢gnISe(l as Ch19 exp9ndlture. Gfft6 In kind re8a8 are I11£d * fatr vdu8, boiThJ the exmed proce8d8 from sale less the expected c06ts of salo. wre estimating fair vaje is praGtpxble uwn receipt it Is recognlsed In stoKk and 'Income frwn other traling activities.. Uwn sale, tho value ol the stock is charged against'lncomo from other trading athit, and the are recc¥Jnwd as 'lncome fr(ffi other trajing thities,. Vther8 il 18 Impractkgble lo falr vaue the item8 due to th8vdume of bw value items they are not recognised in ts fIrn¢La1 ststements until they are sokj. This cOme is rec4)gnised wrthin 'InC from other trading xtivities,. Flxed 888et in rKI are recc•Jnig¢d wtn arml are Ind al faT value. Ttw a not defeffed over Ihe lrfe of the asset. For legacies, entitloment is eartier of the Ch b81rvJ of an wnpendiNJ dlstributbn or the18gacy ing recewed. Al this point is recuJnls&J. On 01$10n legaryes wll be nolffied to the tharity JwaVer it ts r)1 posslble lo measwe the amount expected to b8 disln'buted. On tlxse 0[1(, Ihelggacy Is treated as a contlngent 8sset and disck)sed. Irthme from iTading actv11t IrKIleS iTK*Kne from fuTrjra6rVj ents 8rMJ tsjing adiviti8s to raise funds fLY the charity. IrKcrfn8 is recerrfed in exrjwroe for goods and ser¥tis in order lo raise furn18
GALLOWAY'S SOCIETY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Aecountlng pollcle8 {contlThuedl kTh)m• r•eognition (¢onllnu•d) Investment Irtome L8 h(ddiThJ assets for investment purpctses such as sharés and propety. 11 Indudes dNldends. Interest and rent. Where it is not rffactuble to Klentfy investment management L7)sts Incurred thIn a scheme wtth reasonable accuracy the investment irthme is rerKled net of these costs. It Is ITluded Vh the amount can be measured reliably. Interest income ts rec4)gnised using the effective interest method arKI dpiidend and rent irKX)me L8 rec£gnised a$ the charity's right to recefve payment 1$ established. Inrne from ¥ervr levd wJreemerrts is recogni5 when dwty has entiilemenl after any IOrnianCe G(YKlthon8 have been met, it is FYobabl8 that IrMe wll be received arwj the amount be measured relLgbty. 11 entilement r8 fKI then the80 amounts 8r8 defeThed. Exp•ndhur• r•cognltlon 18xpendlture is )Unted for on an wual8 basis has bepA) das8W under heIllyJ5 that agwale all costs rdaled to the categ. ExpeTrliture is rwiwl wher8 thwe is a legal or con8lnKtive obl1on lo make payments to Ihird parties, it 0bae that the settlement b8 required arml the 8mount of t? O11g8ti0n c4n b8 me&8ured relthty. Th8chwlty18 t reg18terj IVAT. CAxYae(wenty ex19 Irwred ty thechaty Is Indded kn the fInal81 ststemènts indu8lv8 ol VAT chtrpd as thk8 cannot be Te(xMr by chty. Allocallon of •upport and eo•ts Support C08ts are th[ that a88t the of the ch8rlty bjt do not d• reFreser charlIae 8Ctlvlle6 and Sndude office costs. bThwnarKe costs. arKI admink%tratNe YT011 costs. They are irKJJrred direcoy In 8uppoI of experKlhure on object8 of tr cfArity. Governance CCk8ts c4)mprise all c48ts Invcdviw the KMjb1 nIabIlIty of th8 Ch and ils ccwnpllance with regulatlon and gcod practte. Those costs irde c08ts related to Sta1{ wdil arKI legal fe88 logthr wlth an appc¢tlonmenl of overhead ar#J Supwt costs. Oporaung IM••• Rontsls payablo owrating leases aro ¢Pwg8d to expaThJStw6 on a strw I1 basls ovw tha18as Twlbl• flx•d aM418 d•pfaclatkn Tangible fixed asse18 we initially mthqsured at cost subsewènuy measurnd at ¢ost or de8m8d cost whwe the opkn in FRS102 to use a f&r value d an assot at transition as deemed ¢osl ha8 been tsken, 108S accumulated dewectatK)n aThJ impawment tsses. Al assets costing than £2,OLM) WKI havi a useful ecorw1 lrfe of mwe than fo years are eapitalised and incIjed at cost indudes costs dirw attritmjtable lo mthNJ asset capable of operating a$ Intended. Assots aro rev1w tr any irKlicatsw that ts a58et may be impaireAI at eh bala[e sheet date. If wch indution gxists, the r0¥able am¢)unt of Ihe asset is estimated and compThl to the carrying aMnt. Where the eryirKJ amouni exceeds its rec)vere 8mounL wnpwrnjent loss is rwnised in wofft or loss.
GALLOWAWS SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNrJ FOR THE YEAR ENDED 31 MARCH 21Y23 1 Accounting policl•s (contlnu•d Tawlble flx•d as8•ts and dllOn (GonUnu•d Depreciation is promded on dl taroitle red assets at fates cak%lated to vffite off the cost less estimated residual value 03th assot a 8YJtem str8#Jht linè basis over its ax11 usefvl Ilfe as follo.. Property refuthshment Fixtures and fillirvJs Café aThJ computer equIpit Motor vehMge8 5 yw8 {fully deJ) Frnehold land and prop•rty: FreeMd land Freehold bulhYlng8 30 arnl 40 y6w8 Flxed a••at Inv••tm•nt8 Investrnenls are re(wnl8ed inrtldly at falr value 7hthKh18 nomially tho tr8roacllon wlce oxcludlng transactlon costs. sUbSuen11y, they aro ryasu at fair value wth Changes recognlsed in 'nat gainsl {10s$881 on Investments, in the SOFA ifthe shares e Pu1¢JY traded or Ihetrfair velue c4n 0th8NAse be moasured r•liabty. Reali8ed galns and lo¥ses on inveslmenls we ¢alculated as the difference b8fvmn sales proceeds 8nd their opening caryying value or theff purchase value rf a¢quired subsequent lo Ihe flrsl day of the financlal year. Unrealised galns arKI losses affj ca18t¢d as the dIffere befvrnn thek carylrvJ value at tho yw end and IheSf op8nlng carrying value crf Ihew pur¢hase value ff ac44ulreAI sub8equ8nt lo the first day of the financial year. Rea118ed and unrealyaed investrnent gains i0S are combined in the Slatwnent of Fin8rKial Activitie8, Other knvestments Indudlng shar06 In subsk116 we measured at C08t kns8 impaiment. Fln•n¢lal Instrum•nt• Financial instruments are recognlsed in the bglance sheet when the d)arlty becom88 party lo the conlraclual provlslon8 of the in8trument. Flnandal a88ets and liablities are offset. with the net eanounts weseniod In the fina181 statements. when there L8 a legally enforceable nghl lo sel off the recognised amounts 8fKI Is an Inlentk)n to Betlle on a not basls or to reali88 the asset and sewe the 110bty mtaneOUsty. Baslc flnanclal u••t• Basic financial assets. whlch Include debth arKI 8h and bank balanrm, are Inltially measured al tran¢tn price including tranSa10ft costs and are SubSequ1Y carrbj al amortised ctht using the effectfve Inter681 method untess the arrarKJeffrrt conslrtutes a IlnanclThJ trdng8cllon. *there the transaction 1$ measured al the pyesenl value of the future recelpts dlscounled at 8 market rate of Inlere8t. Financial 818 ¢las8ffk8d a8 receIvaa vlthln orn yew are not wTWJrtI. Other Ilnanclal a880ts All the charity's finarKI81 asset8 fall to b8 dassed as basic ffirMnl assets arml tha charity therefe has no other fln8ncial assets.
GALLOWAY'S socIErY FOR THE BLIND
NOTES TO THE ACCoUPs
FOR ThE YEAR ENDED 31 MARCH 2023
1 Accounllng poli¢i•s {contlnu•d)
Impairni•nt of finan¢ial aso•ts
Financial assets, olhgr than those held at fair valu8 slatoment finalal actlvltth. arg a$6e88ed for
Indkators of impaiment al eath reportrng end date.
Flnancial assets are impaired therg there is obiecbve evidence that. as a result of one or more events thal
ocrred after the initial recognition of the finarla1 asset. the estimated future cash fl¥S have been affe¢te(1.
If an asset is impaired, the impairment k>ss is the difference btheen the carylng 8moLsnt 8nd the present
value ofthe estimatod cash discounted at the asseys 91n effeclive interest rate. The impairment loss
Is recognised in stalefflent of financial actNities.
D•r•cognltl¢•n of finKl•l •8••t•
Financial assets are derecognised only v•hen the LX)ntractual rights to the cash flo from the asset explre or
are setled, or when the charity transkn ihe finawd asset and substantially all the risks and rwards of
ownership to 8rnther entity, or rf some slgnffunt risks arKI rthyards of ownership &e retaln8(I but Control of
the a888t has transferrJ lo arwJther pwty that 18 able to 8ell tr as8et in Its entirety to an Unrelat thlrd pty.
Cla8•lll¢•tlon of Ilnanclal Ilabllltl••
Fln8nclo1 Ikqblliues are dassified acc(xding to the 8ubSlan of the c¢ntrathal arraryJement8 frntered Into.
Baslc Ilnandal Ilabllttl••
Bastcfinanclal Ilabililies, including (Yeditors, are initially reCnIsed al transaction prth untess th8 arrangement
constllutes a ffinancing tr8nsactTh, where the debt instrument 1$ rneasured at the present Value of the fulure
recelpls dlscounted at a market rale of YrteresL FInar181 Ilabllltth dassthed as payabl8 within one year are
not 2mortl8ed.
Trade credltors are obllgallons to pay for goodB or services that have been acquir•J in the ordinary course of
buslness from suppllers. Amounts payable we dassrfied as current Ilabl1leS rf payment is due within one year
or less. ff rx)I, they are psented as non
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 1 Accountln9 poli¢i•s (¢onllnu•d) Con8¢lldallon of wholly own•d trading wb$KIl ((¥xttlnuad) PJI Intra4Jroup transaCtvyB, balances and unrealised gains on transa(ions between bY<P companies are eliminated on ¢onsdklatK4n. Unre81iwl1068es we also dImIna urkn transaction woviJ85 evldence of an impaimienl of 88sel transfwred. No consolidated financial statements We presenled for the year ended 31 March 2017 as Lancashlre Vlslon Services Limited. the charity's s¢)le subsid1Y at the time. was not considered to be m81erial for purpose of presenting a true aThJ fair view in any consdKlated acc4)unls. Therefore, in 8ccordance valh paragph 19 of The Charities (ACcjnts and Reports) Regulations 2008 the subsidiary was exduded and in accordance with paragraph 139 of It Charllles Act 2011. where all subsidiaries p8mitted to be excluded from any consolldated a¢¢ounts. tNslee8 were not requed to W8pare wesenl ¢on6011dated accounts. trustees ofGallcMay's S(• for the Bllnd al60 tru8te88 ol Sonior Citcen8 Commlltse Icha number 222823). Th8trust8es do notcortsider thk% chwty to b6 cornm control there are lIOn81 trustees m the 8o¥d of FuIthrd sen)r Crtizens Commltte8, aThJ the Chwtty C(wnmisslon would not permit the merger of the chwilles. $lnc ther otiects arKI ac11vleS we db81mllx. Thweth. thè )Unts of FulYood so Cltlzern Commrttee are not con8dklat8d wllhln th888 xo)unts. Two of the trustees of GalloYray'8 Socl8ty for the Blind are 8180 trustees of the charitable corwany Sighuine Vl$lon (Ncrfth Westl Llmlled Icharlty number 1096452>. The trustees do not consider this charty to bo und common Control SIn there 8re addlilonal trustegs on both Boards, theffjfore the ac¢ounl8 of Slghlllng Vision (North w1) Limlled are rK>I con8011datwJ withln th086 ac¢ount8. Tax•tlon The charty18 an exempt chwity within the meaning of s&dule 3 of the Charltles Act 2011 and 1$ considered to pass the tests sel out in Paragraph 1 S¢Wule 6 Finance Act 2010 a1 thwdore it meets the definrtion of charllable (>Jmpany for UK corporation lax wrp)8es. Ddlnod coMrlbutlon p•n8lon •¢h•m• Emptyees ofthe chafity are entided to j(Nn the Auto Enrolmentdefined conln'bub'on'money purcha8e' schamè. The charity also makes contributK)n8 to several employees. private pension schemes. The costs of the defined contribution schemes are induded wlthln Supp and govern costs and Ghargod to the unrestrlcted fvnds of the charity. D•finod b•nrfh p810Th •ch•ffl• Until the year eThled 31 Marth 2021 the charity operated a defined b8nèfit plan for the benefrt of its em 0YeeS. During the prev$ year the last active rrernlxr of the Schem8 left the Charity's employment and therefore further b8n8frts were being Iwilt up in thg &hème and the PenSn def11 liability crystallBed. The InJslee8 reqlsted a valuatn of this liabilty fr(Th the Actuary and £221.0(KJ vns recx)gnised as 8 liability in °other creditors. on the balance ¥h8ot. The liabilty Vfds PaYae immediatety trMJt was onty fully settled durlng the current yw.
GALLOWAYS SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Judg•mwts and koy 80urco8 of •Btlmatlon unc•rtalnty The followirwJ I1geMentS aThJ assumptlons have been made In the priws of applyir#J the aLM)ve aco3unting policie8 that have had the mt SnIfICwrt dfecl amounts rWn1 in the financld statements: fix At the end of rewllng pthod. management undertake an assessment of the net book values of tangible fixed assets, including rry)ertie5, compar&J to recoveratAe aM(rrt. The recoverabk amount is the hvJher of net realisable value and value In use. The rec4)verable amount, fcy the purposes of the impalmt review, is estimated and therefore may drfler from actual recovwthe amount. Whwe TesSy, an impaimienl ch8ry8 is recognised in thè Ststernent ol financlal activitw. 2 Incom• from donatk•n• and l•ga• fund• fundl nd• 2023 tknnBlon8 WKI 4S,198 191.129 3.n1 44198 291,129 1721 30,317 Cdlocllr3 Grants Gm Abj SOJ17 OOJ17 392,•14 2022 3a628 526,402 34528 624402 L8g8des Gr8nt8 26,196 4842 709.020 135.215 a842 8Cfl,873 109,020 709.893
GALLOWAY'S SOCIETY FOR THE BLIND NOTES TO THE ACCOUNrJ FOR THE YEAR ENDED 31 MARCH 2023 3 Charitabh activilms nd furn nd• 2022 105,670 11,447 10,seo 3.737 105,670 11.447 10.580 3,737 133,623 10,5(YJ 8,479 16 131A34 131A34 152.826 Al of the [rKOn frcffi tharitsL4e lvftles In the curront and wev#)us years was akntrArt to unrestrted funds. 4 TradlTrJ actMtI•• fvnd• fund• nd• 2023 2022 41,•VJ 35.110 41,820 33,110 18.863 4025 4.659 5,212 131.HJ 33,385 34885 13,443 2,125 &132 8urgabw8 rnnt81 hKom8 Hklng of 8(xknl rcm) V18ual ow¥rene88 tran Cmhw trodkng In1 LVS- 881e olp4U 402LS $312 131.943 241A32 241N32 191, All of the income from tradirKd activlllo8 In ts crent arKI wewou8 yews wa5 attfil>Lrted to unrestricted fund8. O FundrtA•lng fxdvltl•• nd• nd• fun0• 1022 04790 9,105 20,331 86,633 4,026 13,207 2, 153 CO)18 and eethrnuity 9,165 Methnde •7,001 97.1)99 106,019 l of the income from fundraising &tIvit in the current a1 previous years was attributed to unrestrcted funds.
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR ThE YEAR ENOED 31 MARCH 2023 6 Inve8tm•nt Ineom• fund¥ fvnd• 2023 Dfv•Jend8 and intwe81 Intwest ¢)n deF(O 144780 144.780 17a348 91 144000 145.000 174439 All of thg Income from hwestments in thg current and yS was attributed to unre6trkted funds. 7 Empkny•• ¢o•t• GO¥•m£• Totsl 2023 Wagg9 aTrJ satrarfes I21.$ 10.007 643312 78.594 843,615 74,291 23.224 DC F¢n8lcA) ccots 1.509 135,IJJ 721AS9 1,130 IW.548 16. 145 6.541 5ffj2 44,221 17.198 607,699 726,828 60,366 23,738 810,933 Dcpenth co318 607.9 810,933 Induded within wages and salari85 is on8 nowlatulory sevewce payment of £1129012022: £nil). This had been fvlly paid al the year end.
GALLOWAY'S SOCIETY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 7 Employ•• Costs Ictintinu) 2023 2023 2022 2022 FuThlralsing and MMUnaN)nS CWilatJe tIvIties- ddivery of C8fé Goveffla Galbway's EnteriSeS Lim 34 19 61 28 Hlgh pakl •taff The wmb8r of Staff who88 8molumerts fell within t1 foll(Ylng bands are: ),o(N). £69.999 T1 cx)n8kkn Its key mwwment pwsonnel <¥)mpw Trustees, Chi8f ExUtfve Otfw and the sl0r Management Team. 2023 2022 188,020 21,354 5,380 172,027 19,065 8.766 Srxial s8rIty costs Penslon c4)8ts 214754 199,858 The charity In103 not paid and did Tle ary (ther teffl5 from emptynent wllh the chvlty OT its subsidiaries in the ygar (2023.. £nil), nertr* wue there mASed expenses durlrKJ ts year (20ZJ'. £nll). Tnte@S mad8 donati¥ to the charity lolalliro £nil (2023: £nl).
GALLOWAY'S SOCIETY FOR THE BLIND NOTE8 TO THE ACCOUNT8 FOR THE YEAR ENDED 31 MARCH 2023 Charltable actfvitles 2023 TT5.014 40,289 104,944 15,655 51,402 95.015 50,317 825.931 104. 15.655 51,402 ,018 In8urance8 Repalrs arwj Motr* oxw8es Ofvr stafffvolunts8r F4Jblcallon8 tsxpenditurn 16.701 11701 21207 1,415 24,132 80,303 705 12,181 1A15 24.132 3,937 70S 11181 DopT8dalbn 700 13.728 59,017 1&728 1.298,OlXI s28.oe 32, 5T,724 11,392 144,718 672,776 32,409 57,724 11,392 40.503 428 Insuranc•8 1&056 1fj258 36 64.717 58.758 1.597 17,783 16.056 16.258 36 04,717 86,132 1.597 17.783 13,649 13,725 h8r 1.283 15&365 13.725 1,071373
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2023 8 Charitabl• acti¥ib•8 (wrtlnu•d) Analysls ol g0Veman cog18 nth 2023 Govemance SJFWt. 8y AGM and Off ccqts AuLllorf8 reThwJnerntic 182 11,919 182 11,gBg 11181 12,181 nds fund• AGM thc8 costs Audiorf• 105 13,A) 105 13, 17,783 17,783 An•ly•l• ol •udttof• r•mun•rntlon nd¥ nth 2023 AiJh ofcharity &CCAmts 11,99 4,730 4.730 ia 13,
GALLOWAY'S SOCIEfY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 9 Raising funds nth &aff eo&8 Grant fun1 FuTha&rYJ everrt8 Prcffioticffj81 expen8e8 Othèr 5tsfflvolunleerrJxts 121556 10,500 120.558 10.506 48,627 31,844 1373 7Ng5 4,15 68.987 31,844 1373 7A95 4595 987 LVS. equtynwrt pwcha GE- Café purtha8 299083 2022 Staff w8t8 203,234 11.352 91,679 I2,1 2037 29.882 4,054 29,879 203.234 11.352 91,679 12,301 2,037 29,882 4,064 29,879 LVS- equtsThnlputh8&8 384.418 384,418
GALLOWAYS SOCIETY FOR THE BLIND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 IAARCH 2023
10 TradlNJ suhldiary
The charlty has trwo wtrvJlly thvrod subsidiarwJ incorp(ffaled in th8 Unit1 Kingd(Mn. Lancashire Vision
Servlces Limiled102844404) sd1$ donat1 and purthased g(S tOgelh8r wth distribution of brai11818afiets
and talking newspapers. Dudng the year the Charty transferred the activities of its Café In Morecambe into its
trading subsidiary, Galloway's Enterprises Limited (109)1305). A summary of tho re8uIts of toth trading
componies is shown below and att
GALLOWAY'S socIErY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 11 Tanglble Ilx•d group Fr•ohold Flxturns •nd bulldlngs hlel•s Total At l Aprf 2022 Aldibons DiSFosal$ 4.055.597 169, 790 6218 102,605 4,327,992 6218 At 31 Mwch 21Y23 406&697 176,1)08 101605 4334210 D•pr•clallon and Impalmrt At l Apnl 2022 Charge for ye Ellmlnaw on dlspTh 103.5790 79,1TI 16,9069 1,436 80,168 5,760 1,285,027 86,363 At 31 Mwth 2ff23 1,114.967 170.505 85,918 1,371,390 N•t Ixxbk valu• Al 31 M•r¢h 2023 1940.630 16,687 2,962,820 Al 31 MwGh 2022 3.019.807 721 22.437 3,042,965 Tanglbk flx•d 18•th- chwlty d bulldlng• •qulpm•nt Total At 1 Aprll 2022 AddanS LYspo8al 4,LIK597 163.975 10Z605 4,322,777 Al 31 Mar¢h 21)23 40K697 163,gT5 11r2,605 4322,ITT D•preclatlon and Impalrmw At l Apnl 2022 Charg8 fcy year DIsF4X81 1035790 79,177 163, 759 716 80.168 5,760 1,279.717 85,643 At 31 March 2023 1.114967 164475 85.918 1,36&360 Net book valug At 31 klarch 2023 1940.630 (500) 16,687 2,966,817 At 31 Mwch 2022 3,019.807 216 22,437 3,042,460
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE Accouiirs FOR THE YEAR ENDED 31 IAARCH 2022 11 Tanglbh Ilx•d a•ts (¢ontlnued) Cerlain freehokl laKI and bulhylngs Ind above are slKwm at deem1 Ly)sl on trrtion to SORP IFRS1021. These assets we beiThJ depredated frMI thek val1)n date of 31 Mwch 2014 arKI have a net book value of £1,456,802 (2022: £1.563,005). The IndepeIent wofesslorxl valuation urKlertaken at 31 2014 Iyas rArt ty Amcat (UK) Ltd. Al valuations have undertak8n in axordarKe with the RICS Valuation- Professiond stsThjds UK, January 2014 {revised April 2015). fixed rtems of pknt WKI mlry, wl¥¢h knn part crf ldIng5 structure or 8ervke ilaIlaon. Pre incbjded in the valuatKTh. 12 Mov•m•nt In flx•d a•8•t Inv••1 (chwlty and group) Total Cah lld In 118t•d Inv••tm•nt rotal 2022 Math81 vdué brought fopN¥d Addllions at cost DIsp)50b 81 Cann9 value Unreallsed gal(1088) EqualisatKin payff 0,955.950 4,300.891 (4767,276 (514.674) 130.960 8,086,910 6.313.957 4,300.891 4,477. 171 (4,767,276) (4,884,Hg) (514.674 89,187 (49.1861 (49,188> 91,044 Mnrk•t valu• al 31 Mar¢h 2023 4,974,891 81,858 6.056,66S 6,086,910 Inv••tm•nt In sub•ldlarf•J 2fy {2021. 2(Ki) £1 Olltirry stAre8 Total flx•d s•l In¥••kn• 5,056,666 6.087, 110 2023 Cost M*k•t valu• 2023 2022 Cost Mathet valu• Coll8ctfves Equiti'es Flxed Interest securibe8 Cash heki wilhin ptI) 939,258 3.106.279 1,126.532 81,771 874,795 3.040.277 1.059.699 81,774 604.803 4,063,711 1,453.357 130,960 606.XI7 4,099,779 1,249,664 130,980 MHrk•t valu• at 31 2023 4253.843 5.056.545 6.252,831 6,086,910
GALLOWAYS SOCIEfY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 12 Movem•nl In fixed asset Inv•sIme (charrty and group) (¢ontlnuod} There were rwJ iryJNKJua investments in ex(w8 of 5% of th8 totsl mwket fdlu8. 2023 2022 Nel redlse¢J gavis in Net unre81i8ed gakns in ytar (338,780 174897) 232,994 143,807 (513,677) 89.187 13 1)•btor• Gn>up 2023 Chwlty Group 2023 2022 Chartty 2022 Trade debt8 Amounts due from group urKlwtaklw6 48,679 85,643 14562 43,857 411,45Q 52,254 67,%XJ 17,351 67.2C 396 149,884 110.857 180,904 14 Cr•dltor•: amount• falllng du• whhln on• yw Group 2W23 Charfty Group 2022 2022 Trade cxedltors ALx¥uals 8rKI dgferr•J Irwne Other ¢xeditors Taxation and Sa81 seCrity Arnnts owed lo grwp undértaklngs Amwnts ow*J lo related ¢hwIt5 48.370 ¥197 52,271 14,418 18,258 48.347 85.795 10.484 18.038 37.120 84,769 10,484 18,038 13,961 18,25B 149 137.856 131,093 162,664 164,372
GALLOWAYS SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IW¢CH 2023 14 Cr•dltorn: amoun18 falllng du• wlthln on• y••r (contlnued) Ac{aS aNI deferrwj irorne irKaLvJes SfTMyJnls defwred irto fuknre wtwe kwme relate8 to evefts du8 to take tthe or to b8 pwformed 8ftw as fdkM8: 2023 2022 Balance ight fcfivard AnThnts rdeased In the year Arnounts deferred sl the ye8r eThJ 54.713 151,071) 51713 51,071 (51,071) 54,713 8alanr carrd frrnrd 54,713 15 P•n•lon Conlrlbullong and cofflmltm•nts- d•fin•d eontrlbuuon momy purchmo p•n•lon pl•M: The charity operate8 varlou8 cx)ntrlbutory perK8ion schemes t) nplOyeeS (2022: NU). Th8y are personal defined contribution s¢7e8 aThJ cAtrirAllIOn5 are charged In the ststemont of financlal actlI1e$ as they accrne. A defined c<IbUtion pslon s¢hem was Introd11 ijn 1 October 201S for all elbble employees In ompllanc* wlth Auto Er¥dment Rg3ulatwts. The amount recognised 88 an experoe In ts year for employer defined oJntributK)n costs wa5 £23.224 (2022.. £24.297).
GALLOWAY'S SOCIETY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 16 a) l) Fund recon¢lllatlon- gn>up (current y#r) 31 Mwch 1Awi12022 Eynd Unr05trtthd funds General fu1 488.997 957282 11,490,087) 451142 408,314 Dnat•d funds As9ets In use by the charty 1,832,986 s1hptyt Maculw Grp 163,937} 1.789,029 2.029 1.771,OS8 1,834.995 (63,9371 Total unmtrl(thl fund8 2,323.W2 951362 (1,W241 432,142 2.179.372 Inv••tffl•nt fund• s..3 (513.6771 1452.1421 4636,984 R•Jtrka•d lund• Hok Crt bungalNs SoulhFA%t &ind Swety Cher re8trlcted funds 420&5 (8,7LYJ) 411,825 50.317 150.317 Total r••trlct•d fund• 420.$2S 50.317 (&1.0171 411,825 Endowm•nt fund H(hvkk House yopwty 769.239 (13,728) 705,813 Totsl funds 9,118,559 1,007,S79 (1,820,76n 1513,8ni 7.983,OM 10 a}11) Anaty•lg of n•t 4•••ts b•tw••n fund•- group (currnnl y•a fvnd• fund• To¢•1 Targlblg fflX a58d8 Investments Current 8ssetsilKlibes 1.795A82 419.lJ45 P&7S4 411.025 755.513 2,9e2.820 8,0SO.629 1347551 4636.904 TrAa funds 1179Jn 4836.9 411,825 755,513 7,983,
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 21Y23 16 b) l) Fund fKonGlliatlon- Gh*ity {curr•nt yw) 31 Mrrth 2023 12022 Unrnstrlcted funds General fund S33.6T2 820,107 11,321,16¥ 451142 484.750 D•slgnated fund¥ A5set5 in use by the chwtty 1M33m8 Southport Group 183J7) 1,770,309 2.029 1.772,33 1.83555 (Gn T¢Xal unr••trld•d fu 2.369227 820.107 (1,304J82) 452,142 1257,094 Inv••tm•nt fund• 5.803,( (513.6771 (45i142) 4037,184 R••trlct•d funds Howick Ccwrt bungal Soutw Blind Ald Socbty Other re8trkted fvnds 420x5 18.70D) {xl IX•.31 411,J25 80.317 Total r•Jtrfthd furKI• 420x5 SOA17 (N017) 411,825 Endowmonl fund 769,238 (13.724 755,512 Total lund8 9.161.993 870824 (1A57.125) {513.67n 1061,815 16 b}11) Analy•l• of n•t a•••ts b•twwn fund•- chwlty {Tr•nt y•ar) fund• nd• fvnd• fixed assots 1,784,104 419,046 419.700 755,512 1959.317 4056.8 4637.184 I77$) Total funds 225T.OM 4637.184 411.825 75lJ12 061115
GALLOWAY'S SOCIETY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IIARCH 2023 16 ¢) l) Fund recon¢lll•llon- group (fv y••r) 31 JI4wL* General fvrn 1ffj463 I.229.7 {1.25&¢1 329,341 48a997 Desonaled fund$ A88ets in use ty ts clwity 1,891.rk4 (S2758J 1.832,966 2,029 1,834,995 1.891fS3 (M750 Total tsnrwlrf¢ fvnds 2,LW.Ik8 s.229,7 (1,31T.362) 32q341 2,323,992 4842957 89,1 (329,341) 4602.803 HowKk CourtlwtU8lows soUtht aiindAkl So&èty 429.225 4Q645 {8.71XI) (40.649 (109.Q20J 420,525 (151365) 420,525 EthYowm8nl lurKI 782. (11725) 789,239 Total funds 9,ITT,99T 13,338,827 (1.489,452) 89,187 16 e)11) Anal1$ of not au•ts b•lw••n fund¥- group (prfor y•Ar) 1.844.822 484,107 4&)3,c 428,4CiI 769,238 3,04a4e4) 087,110 32,423 Investm8nls Cuffont &8seWllablitss 17.87• Tolalfunds 2.369.227 fi3.{ 4x1,525 769,238 9,161,993
GALLOWAY'S SOCIEfY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2023 16 d>11 Fund r•conelllatlon- ¢hgrlty (prfor yw) Generalfund 214426 1.121103 1.13&2 329,341 533,672 Assets in use by tts ¢hwty 1.891.T24 (6419• 1.833.526 2,029 1,83&555 t,8A3.753 (581 Tot•1 un*wtslcl8d funds ZIIZI79 1.122.153 (1.19¢.446) 329.341 2,369,22T 48q167 89,187 (329,341) 4603,CQ3 R•strfcted funds 4.225 (8,7(Xl) (40.644 (109.020) 420,525 Souuwt Stithty Otherrestricted 109,020 Tot•1 rnstrf¢t8d funds 469,8TO 109,ff20 flM364 420,525 Endowm•nt fund Hobwck Hous& wopety 7B964 (11726) 769,238 Tot•lfvnds 9,XV170 1.231.173 (7.3,637) 89,187 9.161,993 16 d)11) Analy•l8 of n•t a88018 b•l4fv•n fund•- charlty (prlor y•ar) T8ryil>18 ffxed assets Investn7ents 1.844.822 484. 107 42£4 769,238 3,042,460 087,110 3Z423 17.875) Tot81 fuTrls •¥ Z369.227 4+XUI 420,525 789,238 9. 161,993
GALLOWAY'S SOCIEfY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 16 •) Fund r•conclllatlon Pomianenl ondowrnenl fund HOyCk House was (%)naJ to the chartty by the Wflliam WldirvJ Galbway Charity durlrKJ 1g97198. The Fffoperty was revalu&J in Mwch 2014 arKI malwl amount has been treated as deem8d 5t on transition under11 SORP {FFiS102) at 1 Awll 2014. Deryeclal¥)n (al&led to ¥wite walue bukkling over a 0d of40 years is chty to the fund. Re8tflctod fund• urt bun The WOFertl8s were revalued at March 2014 arKI revaued amount th been treated a8 deern cost on transfer under SORP (FRS1021 at 1 Wil 2014. DewwatK)n Cculad to off the value of the bulldlng over 8 perd of 40 years is charged to t furKI. SoLrthport Blind Ald scety donated all its as8ets to Galluway's Soci8ty for Blind, who continue lo operate sw¥lces for bllrKI p8ople in S(MJthport and Il surrounding wea. Expenditure including depreclallon charged aga11 the fund durirvJ the year totalled £0 and rewesents tho opwatlng costs of ntre at 22 Wrlghl Street. mbe develo Grants were recew ILAvards tho dvrfdopmont ol ltrt w pyopety at Mwarnbe. The propety opened in October 2016 and a tr8txfer was made to urestrhXed fund8 as the purpos8 of the grant$ awarded had been fulfilled. Inv•8tm•nt fvnd The purFW of the Investment Fund18 b plal8 esg•ttW rIlal irthme to alow for the dwitable obieGtives to be mel," lo be called upon for fvbjre caprtal exper)Jitwe: aTrJ as a reswve lo ensure that rd costs of the organIsatK can be rJ)vered wln other Sre88 of irK(ffie may be le88 reliatle. D••lgnat•d fund• th Funds We receNed from Souihwt at Ncffth Wesl MacJJl¥ SuFPOrt Group {Chwlty No 1142183) In May 2016 vthen11 was removed from clthty register are heid lo furKf thg ongolrvJ &tivrtles of the Soulhport Malar Grwp. ilal Tru The fijnds from above associated Charity wa5 trSferreAl to as a pwt ofts dowre kYoce88 agreed by the trustees of Cottrill Cawtal Trust.
GALLOWAY'S SOCIEfY FOR THE BUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 21)23 17 Rat Part1 tran8O¢tlon• and In exp•ns•F arKI r•munw Tte8S. rnmunerallon and bon811ts Thg trustees all give freely ther lime arKI expth WilNjI any f(¥rn of remwwati)n ty othor berlefft in (ash (x kind12022.' £7,193). Tkn were no trara¢rffj wilh ary tntst88B the year arKI no 0xptyS paid trj or on bohalf of trustees (2022: Nil>. Related party transactlons Lancashire Vision Serv$ kn'rrthd is a trading sUbdY and was trwed by Galloway's SoCty for the 8I¥KI £11.989 (2022.. £13.961) as at 31 Mh 2023. The bala1 15 due to repaKI after year end. Galloway's Enterwises Lmrted VAS iOrpOrated on 4 August 2017 arKI r8 8180 a Whol owned tra¢Ying $ub8ldlary. Galloway'8 &Ki&ty ft>r ts Blind is due £85.643 {2022: £52.254) from the subsidtary as at 31 March 2023. Trustees ar8 fully aware that GallNay'$ Enterwise Lrnrted Ls in a n8t Ik?bilty [os"0n and has been operating on 1088e8 year on yew. Hovmver, the ffin8 GEL Lld has 8(xuUny and new w(te3888, procedur, pr8 changes etc have en IDtrodurAd wrih ts overall intention Ing lo re£1. or elimlnate, the op8ratlng defrt movirvj foNard. So fw. tr réw measwe kntrcmluced has been surxxsful in changlng Ihings around. Slghtlln• Vlslon (North W•#t) Lknlt•d ShlIne YK)n (Ncrth Westl L¥nTted L8 a related c*•. Durtrs the year £5.200 (2022.. £4,979) was charged to Swhline VIS North West Ltd for offlce rwtsl etc. The amount by the charty al 31 March 2023 10 Galbway's S(Kknty for the Bmnd was £rl (2022: nll).
GALLOWAY'S SOCIETY FOR THE BLIND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 18 Commltm•nts under op•rating l•aw (offl¢• oqulpment)- group and thity The charity is committed to fulure18asing payThnts under norkrKL2bIe Opatij leases for each of Iho following periods- 2022 Not later t ye Later than ore yew and not later than fvo yeas Later than fve yws 180 5,172 5,157 Totsl eommlim•nt up lo th• of th• lam• 9,$45 19 Contlng•nt DwlThJ the yw Ihe ChnY vrds bwuéal1d a Shwe In the ThJmb8r ofdeath estates. 1115 the pollcy ofthe chty to recognise ts Irtome once the OUnts can be aCratelY quantffwj. Al assets quant[r have been induded In the At the year er#J Ihwe wwe a Thjmber In vAII8 still rAndlrKJ and due to th8 urKrtainty of the rnn the Income VAII be recogni in the yw In Nthich donat$ we 6ither reLeNgd or th8 amounts can b8 d8leTmird %th reasonatAe cwtainty. The a)woximale value of8 donalM)ns In w11810 vthich charty can wt a value Is £nil12022.' £nil).