coyyimi COMPANY REGISTRATION NUMBER: 02433540 CHARITY NUMBER: 702325 THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND {LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Registration Charity Number 702325 Company Number 02433540 Council Mrs. L. Scanlan (Chair) Mrs. J. Kent Mr. A. Curtis Mr. P. Carling Mr. G. Hicks Mr S Duffy Ms S Gregg Secretary Mr. P. Carling CEO Mr. R. Wood Reglstered office 53 St Lukes Terra Pallion Sunderland SR4 6NF Bankers The Co-operative Bank plc 516 Fawcett Street Sunderland SR1 1RF Independont Examlner Mr. P. N. Newbold BFP FCA Torgersens East Suite, Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ Honorary Sollcitors Mr. G. Johnston McKenzie Bell 47 John Street Sunderland SR1 1QU
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) THE TRUSTEES. REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 MARCH 2024 The council present this report together with the financial statements of the charitable company for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 to 11 and comply with the current statutory requirements, the requirements of the charitable company'sgoverning document, the current Statement of Recommended practi and the Companies Act 2006. 1. Administration detalls The Sunderland and North Durham Royal Society for the Blind is a registered Charity (No. 702325) and is a company limited by guarantee (Company No. 02433540). The principal address and registered office of the charitable company is.. 53 St Luke's Terrace Pallion Sunderland SR4 6NF The Council Members who served during the year are as follows:_ Mrs. L. Scanlan Mrs. J. Kent Ms S. Gregg Mr. P. Carling Mr. G. Hicks Mr. A. Curtis Mr. S. Duffy The above are directors and trustees for the purposes of the Companies Act and Charities Act respectively. Mrs D. Mcclusky is entitled to attend the meetings of the council as a representative of Durham County Council. 2. Organisational Structure. Governance and Management The charitable company is incorporated under the Memorandum and Articles of Association that sets out the objectives and purposes of the charitable company. The financial statements compty with current ststutory requirements of the Memorandum and Articles of Association. The ultimate responsibilty for the management of the charitable company is vested in the Council. Trustees are elected by the members at the Annual General Meeting and hold office unts"I death, resignation, or removal from office. 3. Council of Management The maximum number of members of the council is detennined by the charitable Company in General Meeting. Currently there is a maximum of 7 and the minimum number of members of the council is 3. The members of the council can be paid all reasonable out-of-pocket expenses properly incurred by them, in attending and returning from mtingS of the council or any committee of the council or General Meetings of the charitable company or in connection with the business of the charttable company. There were 7 council members acting for the charitable company during the year under review. The council meet on a regular basis regarding the management of the charitable company and its finans.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) THE TRUSTEES. REPORT (INCORPORATING THE DIRECTOR'S REPORT) (CONTINUED) YEAR ENDED 31 MARCH 2024 4. General Information, Objects and Activities Originally named "The Sunderland and Durham County Incorporated Royal Institution for the Blind., the charitable company was established in 1877 and incorporated The Home Teaching Society (1873). It has been registered in accordance with National Assistan Act 1948 and under the Charities Act 1960. On 18 October 1989 The Sunderland and North Durham Royal Society for the Blind was formed as a company limited by guarantee. The charitable company also registered for charitable status with the Charity Commission under number 702325. The charitable company's objects are to promote the welfare of the blind and those substanb'ally and permanently impaired by defective vision, registered as such with their appropriate Local Authority and residing in the City of Sunderland and the surrounding area. In furtherance of the above objects but not further or otherwise the charitable company has the following powers.. (a) To manage and administer the funds of the society so as to maximise the use of all existing and new investments and to receive all legacies and other contributions. (b) To disburse from these funds either capital or income, sums of money, or provide goods or ServIS in lieu, to individuals or groups of visually impaired for the alleviation of suffering, distress or hardship and the provision of, or assistsnce towards, recreational and charitable company facilities. The council is actively looking at ways in which these benefits can be improved in forthcoming years. Public Benefit Statement The trustees have had regard to the Charities Commission guidance on their legal duty on public benefit and are satisfied that the charitable company delivers public benefit, and due regard is paid to the guidance on public benefitwhen deciding on what new projects the charitable company should undertake. General Review The value of the charitable company's portfolio of investments has remained the same as the previous year. The income of the charitable company has decreased during the year by £194,046 and expenditure by £12,858, which has produced a surplus of £8.885 compared to £187,830 in the prior year. Resorv•s Policy The trustees have set a reseNes policy which aims to maintsin the general reserves at the equivalent of a minimum of six months expenditure.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) THE TRUSTEES, REPORT (INCORPORATING THE DIRECTOR'S REPORT) (CONTINUED) YEAR ENDED 31 MARCH 2024 5. Achievements and Performance The financial year has been difficult trying to ensure that sufficient income was raised in order to continue to provide the many seNices that members rely on and to begin the process of building up unrestricted financial reserves. The Trustees have met regularly to monitor progress and to explore areas where savings could be made. The goodwill shown by so many funders has been greatly appreciated. During the year, the Society received a bequest of £46,592 from Mr Anthony Turner. Legacies are extremely welcome, and it is a sad fact that those making the bequest can no longer be thanked directly. The One Vision project continues to be funded by the National Lottery Community Fund and is a partnership project with Newcastle Vision Support and Hartlepool Vision Support. During the year £109,268 was reiVed and shared equalty between the partners. The One Vision Project enables each organisation to provide IT and Assistive Ted)nology training, a¢$S to a professional Counselling scheme and access to Safeguarding. Feedback from service users continues to be extremely positive. During the year the Warm Spaces project funded by Sundedand City Council was replad by the Links for Life project. The Society applied for two grants, one to repair the roof of our building at 53, St Luke's Terrace, Pallion, Sunderland (£16,000) and the other to cover the cost of all of the events and activities held at Pallion (£17,500). The contract to deliver support ServIS to people who are visually impaired and living in County Durham was once again extended. The contract is valued at over £40,000. A Coronation Party was held on 4th May 2023 to celebrate the coronation of King Charles111. This was very well attended by members and enjoyed by all. Three Living With Sight Loss courses were held in Sunderland during the year and two in County Durham. These are always well attended and provide an excellent opportunity for newly diagnosed people to come together to receive information on all of the services available to them in a relaxed and friendly environment. The sudden and unexpected decision by Barclays Bank to close the Society's accounts with no notice caused great problems for the Society. Not only were involS unpaid, grants and donations could not be banked. The Society was extremely relieved and grateful to the Co-operative Bank for enabling the Society to open an account with them. In October 2023, Barbara Church retired as a Rehabilitation Worker. We shall always be grateful to Barbara for enabling the Society to provide a professional Sight Loss Rehabilitation Servi on behalf of Sunderland City Council. Julie Anderson and Dale Burns-maddison are progressing well as Rehabilitation Worker Apprentices. A successful Sensory Exhibition was held in Sunderland City Hall on 4th October 2023 and was well attended. It is intended to make this a regular event alternating between Sunderland and County Durham. The Trustees along with the Chief Executive Offir continue to prioritise the building up of unrestricted reserves. During forthcoming financial years strenuous efforts will continue to be made in order to achieve the acknowledged outcome.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) THE TRUSTEES. REPORT (INCORPORATING THE DIRECTOR'S REPORT) (CONTINUED) YEAR ENDED 31 MARCH 2024 6. Financial Review The charitable company had total reserves of £213.244 at the year end. The charity has restricted reserrfes of £39,517 and no free reserves. The trustees are confident that the shortfall in resenies can be reversed in the forthcoming years as activities of the charity retum to pre pandemic levels. 7. Statement of the Council's Responsibilities Company Law requires the council to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing these financial statements, the council is required to: select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent. follow the rewmmendations of the Charity Commission and of the accounting profession with regard to the form and content of the financial ststements and to disclose and explain any departures therefrom., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The council is responsible for keeping proper accounting records. which disclose with reasonable accuracy at any ts'me the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularits'es. 8. Risk Assessment The council has considered any risks to which the charitable company might be exposed and is satisfied that the administrats've, investrnent and financial prOdureS which are in Pla minimise the risk of any loss to the charitable company. 9. Exemption Statement These financial statements have been prepared in accordan with the special provisions of Part 15 of the Companies Act 2CQ6 relating to small companies. Signed on behalf of the Council Mrs. L. Scanlan Chair Date.i.31
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) I report on the financial statements for the year ended 31 March 2024, which comprise the statement of financial activities, balance sheet and the related notes, induding a summary of significant accounting policies. Respective responsibilities of trustees and examiner The members are spOnSible for the preparation of the financial statements and consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 of the Charities Act., to follow the prOdureS laid down in the general Directions given by the Charity Commission under section 145{5){b) of the Charities Act., and to state whether particular matters have come to my attention. Basls of Indep•ndont examinerfs report My examination was carried out in accordance with the general DitionS given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the account5, and seeking explanations from the trustees Conrning any such matters. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention to indicate that: accounting records have not been kept in accordance with section 386 of the Companies Act 2006" the accounts do not accord with such records where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102) any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts. Paul Newb31d BFP FCA Torgersens Chartered Accountants East Suite, Ground Floor Avalon House Sunderland SR5 3XJ Date: E ,l.zl
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 Unrestricted Restricted Funds Funds Total 2024 Total 2023 Note Income and endowments Donations and legacies Other trading acb'vities Investment income Income from charitable activities other income 57,568 2,931 (7) 143A17 11,081 14,042 71.610 2,931 (7 190.017 11,081 248,660 2,549 228 213,715 4.526 46,600 Total Income 214,990 60,642 275,632 469,678 Expenditure Expenditure on raising funds Expenditure on charitable activities 10 Total expenditure 18,118 217,709 18,118 248,629 17,694 261,911 30,920 235,827 30,920 266,747 279,605 Net (Gain)ILoss on investments 13 2,243 Net Income 120,837) 29,722 8,885 187.830 Transfers between Funds 8,000 (12,837) (8,000) 21.722 Net Movement in Funds 8,885 187,830 Total funds brought fomard at 1 April 2023 186,564 Total funds carried forward at 31 March 2024 17,795 204,359 16.529 173,727 39.517 213.244 204,359 The charitable company has no recognised gains or losses other than the results for the year as set out above. All operations are classed as continuing. The notes on pages 9 to 19 form part of these financial statements.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 Note 2024 2023 Fixed Assets Tangible fixed assets Investments 14 15 220,695 322 228,670 322 221,017 228,992 Current Assets stocks Debtors Investments - deposits Cash at bank Cash in hand 1,144 85,178 1,144 62,196 16 17 340 172 4,814 86,834 68,156 Creditors: amounts falling due within one year Net Current Assets 18 194,607) (92,789) (24,633) (7,773) Net (Liabilities)IAssets 213,244 204,359 Funds of the Charlty Unrestricted funds Restricted funds 19 20 173,727 39,517 213,244 186,564 17,795 204,359 Total Funds For the financial year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No MberS have required the cornpany to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the council on their behalf by- 7.3.IC and are signed on Chair Mrs. L. Scanlan Company Registration No.. 02433540 The notes on pages 9 to 19 form part of these financial statements.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 General information The charity is registered in England and bvales and in unincorporated. The address of the principal office is 53 St Lukes Terrace, Pallion, Sunderland SR4 6NF. Statement of compliance These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting Policies Basls of preparation The financial statements have been prepared under the historical cost convents'on, as modified by the inclusion of investments at market value and in accordance with the Statement of Recommended Practice: Accounts'ng and Reporting by Charities in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland., and the Charities Act 2011. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial ststements are rounded to the nearest £. Golng Concern The financial statements of the charity have been prepared on a going concern basis despite the fact that the charity had net current liabilities of £7,773 and was dependant on the continuing support of creditors. The trustees are confident that contracted service income and grant funding obtained for the forthcoming periods will enable the charity to continue its operations. Incoming resources All income is recognised On the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations and grants are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performan before the charity is entitled to the funds. the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Other trading activities relates to MIslIaneoUS income such as from room hire. student placements and the provision of training and is recognised in the Statement of Financial Activities in the period to which it relates. Interest on funds held on deposit is included when receivable and the atnount can be measured reliabty by the charity., this is nomally upon notification of the interest paid or payable by the bank. Dividends are included in the Statement of Financial Activities when they are declared, at an amount which includes appropriate transitional relief.
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Accounting Policies (continued) RePUrceS expended All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities. Taxation Due to the company's charitable operations no corporation tax is payable on the results for the year. Tangible fixed assets All fixed assets are included at cost. These are capitalised if they can be used for more than one year and cost at least £500. Depreclatlon Depreciation is calculated to write down the cost, less ests'mated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives. The rates generally applicable are.. Frhold Property Office equipment Office furniture Computer web design Fixtures and fittings 20/0 straight line 200/0 Straight line 100/0 Straight line 33.30 straight line 1 Ooh straight line Fixed Asset Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured by their fairvalue as at the balance sheet date using the closing quoted market price. The charity does not acquire put options, derivatives or other complex financial instruments. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales prcceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Stocks Stocks are ststed at the lower of cost and net realisable value. Cost is computed on a first in, first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal. -10-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Accountlng Policies (continued) Operating Leaso Agreemgnts Lease payments are recognised as an expense over the lease tem on a straight line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term on a straight-line basis. Funds Accounting Unrestricted funds are available for use at the discretion of the trustees in furtheran of the general objectives of the charty. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Deslgnated Reserves Designated funds are unrestricted funds eamarked by the management committee for particular purposes as follows.. (i) Capital Fund The reserve reflects the net book value of tangible fixed assets owned by the charitable company. (li) Income Generating Assets The reserve reflects the quasi endowment nature of the investments of the charrtable company. (iii) Redevelopment Fund A reserve has been established for the purchase of St Luke's Terrace, Pallion premises. Transfers to and from funds are made as designated by Trustees. Financlal Instruments Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement. An equity instrument is any contract that eVIdenS a residual interest in the assets of the company after deducting all of its liabilities. Defined contributlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related Servi is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. +lthen contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related seNice, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the per iod in which it arises. Operating Lease Agreements Lease payments are recognised as an expense over the lease term on a straight line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease temi on a straight-line basis. 11
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestrlcted Restricted Funds Funds Total 2024 Total 2023 Membership income Donations P Richardson Visionaid Tech Ltd Collection towards training kitchen Leslie Butler Roseline Foundation TA Webb Donation in memory of Mrs E Royal S Dennis donations in lieu of flowers Hadrian Trust JH Burn Charity Trust Lorraine Taylor donation via D Ridley Seaburn Rotary Club E Dobie in lieu of flowers Ashley Sutherland Trevor Bond Collection Boxes Other donations received Leathersellers Media Savy training Persimmon Home Foundation Houghton Blind Centre Paul & Sue Lennon Donation in lieu re Norman Catcheside Donation in lieu re Sylvester Donation in lieu re Much Loved Donation in lieu re Mary Anne Smith Donation in lieu re Mr Allen Donation in lieu re B Frobisher Legacies Mrs Geraldine Tasker Mr Anthony Turner 1.595 1.595 1,924 12,075) 50 (2,075) 50 14,042 1.195 500 127 200 14.042 1,195 500 127 200 1,000 500 1,000 500 121 5,000 125 330 5,000 125 330 551 253 3,045 2,000 200 1,000 228,500 132 220 285 156 125 129 140 351 1,736 351 1.736 102 46,592 102 46,592 71,610 10,000 57.568 14,042 248,660 In the previous year unrestricted income was £248,630 and restricted income was £30. Other trading activities Unrestricted Restricted Funds Funds Total 2024 Total 2023 Fundraising events Sales income 2.931 2,931 2,402 147 2,931 2,931 2,549 All income in the previous year was unrestricted 12-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Income from Investmonts Unrestricted Rostricted Funds Funds Total 2024 Total 2023 Dividends - equities Bank interest (8) (8) 228 (7) 228 All income received in the previous year was unrestricted. Income from charitable activities Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Resource Centre income Rehabilitation services for beneficiaries Service delivery in County Durham Grants for specific activities Catherine Cookson Community Foundation Hadrian Trust Amold Clarke Barbour foundation CAF National Lottery Less due to Hartlepool Vision Less due to Newcastle Vision NBTBA Newcastle Building Society Pocklington Trust Screwfix Foundation Sir James Knott Trust Sunderland City Council 2,093 36,220 40,416 2,093 36,220 40,416 1,086 65,141 39,450 1,000 15,000 1,000 1,000 15,000 1,000 2,000 5,000 400 122,347 (33,445) (38,445) 2,140 3,000 3,000 5,000 1,000 36,041 26,000 109,268 135,084 135,084) 135,268 (35,084) (35,084) 6,000 6,000 15,688 7,500 46,600 23,188 190,017 143,417 213,715 In the previous year unrestricted income was £160,118 and Stricted income was £53,597. Other Income Unrestricted R•stricted Funds Funds Total 2024 Total 2023 Sundry income Rental income 431 10,6SO 11,081 431 10,650 11,081 926 3,600 4,526 All income received in the previous year was unrestricted. 13-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Expendlture on ralsing funds Unrestricted Restricted Funds Funds Total 2024 Total 2023 Fundraising stsff costs 18,118 18,118 17,694 18,118 18,118 17,694 All expenditure in the previous year was unrestricted. 10. Expenditure on charitable actlvitios Unrestricted Restricted Funds Funds Total 2024 Total 2023 Charitable activities Services and support to beneficiaries Resource Centre wsts Development of service costs Stsff travel expenses Volunteer expenses Sight loss rehab staff costs Sundry charitable expenses 1,530 51,040 725 2,255 51,040 523 57,996 5,656 881 89,424 20,546 2,298 173 18,731 3,333 280 63,519 8,581 453 82,250 11,914 175,026 Management and administration of charity Staff costs Rent Rates and water Light and heat Insuran Repairs and maintenan Telephone and postage Printing and ststionery Computer costs Staff training Sundry expenses Promotion and advertising Legal and professional fee Accountancy fees Depreciation Bank charges Interest payable and similar charges Interest on late payment of PAYE 23,009 25,000 1,375 4,036 2,454 1,285 5,807 2,526 4,559 889 923 (6601 1,576 2,896 7,975 30 1,507 1,327 217,709 23,009 30,000 1,375 4,036 2,454 1,285 5,807 2,526 4,559 889 923 14,426 30,000 1,663 4,529 3,211 394 4,655 4,014 4,037 6,527 1,577 3,660 969 3,020 4,065 5,000 1,576 2,896 7.975 30 1,507 1,327 248,629 138 30,920 261,911 All expenditure in the previous year was unrestricted. 14-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 11. Staff costs Total 2024 Totsl 2023 The cost of employing staff Wages and salaries Social Security costs Pension costs 162,264 7,135 4,468 155,730 7.675 4,612 173,867 168,017 The average number of staff during the year amounted to 8 (2023: 8). No employee received more than £60,000 during the year. 12. Trustee remuneration and the cost of key management personnel The trustees reiVed no remuneration or expenses during the current and previous year. The total employee benefits of the key management personnel of the charity were £43.921 (2023: £43,786). 13. Realised Gains & losses on investment assets 2024 2023 Gainsl(losses) on SalelReorganisation of investments (2,243) 14. Tanglble Assets Office Freehold Computer Fixtures and equipment & Propety INeb Design ffttings furniture Totsl Cost At 1 April 2023 Additions 220,000 22,331 1,280 58.043 301,654 At 31 March 2024 220.000 22.331 1,280 58,043 301,654 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 15,608 2,880 18,488 640 128 56,736 567 72.984 7.975 4,400 4,400 768 57,303 80,959 Carrylng amount At 31 March 2024 215,600 3,843 512 740 220,695 At 31 March 2023 220,000 6,723 640 1,307 228,670 15-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 15. Investments Quoted UK investments Market value 2024 2023 At 1 April 2023 Additions to investments at cost Disposals Gainl(loss) on revaluation At 31 March 2024 322 31,563 31,703 (60,700) (2,244) 322 322 2024 2023 Historical cost at 31 March 2024 408 408 UK listed investments are represented by: 2024 2023 Investment trusts and unit trusts 322 322 The following investrnents individually make up more than 50h of the market value of total investments: Aviva Investors Property Feeder Inc Fund Class 2 322 322 16. Debtors 2024 2023 Other debtors and prepayments 85,178 85,178 62,196 62,196 17. Investments - Deposlts 2024 2023 Barclays Business Base Rate Tracker 16-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 18. Creditors: amounts falling due within one year 2024 2023 Other taxes and social security Other creditors Pensions 16,426 68,319 9,862 94,607 9,889 74,422 8,478 92,789 19. Unrestricted reserves Balance Incoming Outgoing 01.04.23 Resources Resources Transfers Balance 31.03.24 Genernl funds Accumulated surplus Total unrestricted funds 186.564 214,990 {235,827) (235,8271 8,000 8,000 173.727 186,564 214,990 173,727 Balance Incoming Outgolng 01.022 Resources Resources Transfers Balance 31.03.23 General funds Accumulated surplus Total unrestricted funds 10.717 10,717 415.118 (244,810) (244810 5,539 186,564 186,564 415,118 5,539 The Accumulated Surplus is available for the charitable company to use for the purposes of the charitable company without restriction. The transfer represents an element of restricted income which could be used for general purposes. 17-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 20. Restricted reserves Balance Incoming Outgoing 01.023 Resources Resources Transfers Balan¢0 31.03.24 Restricted reserves Equipment purchases Event Activities Nab'onal lottery Total unrestricted funds 5,812 1,185 10,798 21,542 27,354 1,185 10,978 39,100 60,642 130,9201 (8,000) (30,920) (8,000) 17,795 39.517 Balance Incoming Outgoing 01.04.22 Resources Resources Transfers Balance 31.03.23 Restricted reserves Equipment purchases Event Activities Nab"onal lottery Total unrestricted funds 5,812 5,812 1,185 10,798 4,103 50,457 (2,379) (539) (34,659) (5,000) (37,038) (5,539) 5,812 54,560 17,795 Equipment purchases are grants and donations received from The National Lottery. Independence at Home, The Royal Victoria Trust, Sunderland City Council, The Barbour Foundation and a crowdfunding campaign towards the purchase of equipment for beneficiaries. Event activities includes a donation from NBTBA a towards the provision of sporting activities to members, a donation from Sir James Knott trust to provide a Jubilee paty together with funds raised for other trips and parties. The transfer to general SerVeS represents the management charges involved in providing these activities. Nats'onal Lottery Community Funding was obtained during the year to support the operations of the charity. The transfer to general reserves represents the contribution towards management costs available under the grant. A number of grants contained elements which could be used towards the general purposes of the charity and these have been transfeed to general reserves. 21. Commitments under Operating Leases The total future minimum lease payments payable under non-cancellable operating leases are as follows: 2024 2023 Operating lease5 which expire= Imthin 1 year vthin 2 to 5 years After more than 5 years 30,955 121,433 150,000 32,994 120,785 180,000 302.388 333,779 22. Related Party Transactlons During the year there were advances on k)ans from rtain employees of £19,226 (2023.. £29,126) and amounts repaid by the charity of £9,608 (2023: £6,806). The amount due to the employees at the year end was £53,729 (2023.. £44,111). 18-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 22. Related Party Transactions (continued) During the year amounts of £5,000 (2023.. £nil) were repaid to a trustee. The balance due to the twstee at the year end was £nil (2023: £5.000). 19-
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