commission 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 2025
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Registration Council Secretary CEO Registered office Bankers Independent Examiner Honorary Solicitors Charity Number 702325 Company Number 02433540 Mrs. L. Scanlan (Chair) Mr. A. Curtis Mr. P. Carling Mr. G. Hicks Mr S Duffy Ms S Gregg Mr. P. Carling Mr. R. Wood 53 St Lukes Terrace Pallion Sunderland SR4 6NF The Co-operative Bank plc 5/6 Fawcett Street Sunderland SR1 1RF Mr. P. N. Newbold BFP FCA Torgersens East Suite, Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ Mir. G. Johnston McKenzie Bell 47 John Street Sunderland SR1 1QU - 1-
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 2025 The council present this report together with the financial statements of the charitable company for the year ended 31 March 2025. 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's governing document, the current Statement of Recommended Practice and the Companies Act 2006. 1. Administration details 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 Mr. S. Duffy Ms S. Gregg Mr. P. Carling Mr. G. Hicks Mr. A. Curtis 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 comply with current statutory requirements of the Memorandum and Articles of Association. The ultimate responsibility 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 until death, resignation, or removal from office. 3. Council of Management The maximum number of members of the council is determined 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 meetings of the council or any committee of the council or General Meetings of the charitable company or in connection with the business of the charitable company. There were 6 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 finances. -2-
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 2025 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 Assistance 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 substantially 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 services in lieu, to individuals or groups of visually impaired for the alleviation of suffering, distress or hardship and the provision of, or assistance 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 benefit when 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 £59,638 and expenditure has decreased by £1,286, which has produced a deficit of £49,467 compared to a surplus of £8,885 in the prior year. Reserves Policy The trustees have set a reserves policy which aims to maintain the general reserves at the equivalent of a minimum of six months expenditure. - 3-
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 2025 5. Achievements and Performance Strenuous efforts continue to be made to ensure sufficient income is raised to continue to deliver the many services that members rely on and to try to build up unrestricted reserves in line with the Society's reserve's policy. The Trustees have agreed a plan to aim to raise the required amount over the next three years. During the year, the Society received two grants from Sunderland City Council's Links for Life at Pallion. The Royal Victoria Trust for the Blind donated a grant of £5,000, Persimmon Homes donated £3,000 and we received a legacy of £5,000. The One Vision Project funded by the National Lottery Reaching Communities Fund entered its final year. The project has proved to be a great success with many more people receiving help and support over it's lifetime. Over 1,000 home visits have been made to date to assist people with IT, hundreds of people have been supported through our counselling service and members concerned by potential safeguarding issues have been given support. New funding streams are being sought to ensure the IT training can continue once the Lottery funding has ended. The final payment from the National Lottery's Know Your Own Neighbourhood Fund has been received. The funds enabled the Society to set up new support groups throughout County Durham and hold a series of Living with sight-loss courses. A grant from Sunderland City Council's Community Asset Fund has enabled the Society to install a new kitchen and boiler in our Houghton le Spring Centre. The Centre is gaining bookings for its use, which will begin to produce a welcome income stream. The Contract to deliver services for visually impaired people living in County Durham was extended until March 2026 when it will go out to tender. The contract is valued at over £40,000 per year and pays to provide advice on welfare benefits, housing, IT, counselling, social events and Living with Sight Loss courses. Following the resignation of Fiona Ferguson, Joanne Peverlly was appointed as Community Sight Support Officer and commenced her employment in early April. Discussions with representatives from Sunderland City Council resulted in an increase in the mount the Society is paid for delivering the Rehabilitation work we undertake on the Council! behalf. Referrals for both sight loss and hearing loss rehabilitation continue to be received at a hig! rate and keep our staff busy. During the year, Julie Anderson successfully completed her Vision Rehabilitation apprenticeship and is now a fully qualified Vision Rehabilitation Specialist. Dale Burns-Maddison has now successfully completed year one of his apprenticeship and we look forward to him qualifying early in 2026. We are very fortunate to have Ken Slowther as our Hearing Loss Rehabilitation Specialist. A Rent Review of our office in Pallion took piace during the year. We were extremely relieved to find that no increase was recommended. The Society began offering regular exercise classes for members provided by Future Health Northeast. These have proved to be extremely popular, and regular participants report feeling much fitter for taking part. A new digital telephone system was installed during the year and a new fire alarm system was installed by Cloudcom Technology. Dale Burns-Maddison became our official Fire Marshal. -4-
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 2025 Advice on fire safety measures was provided by Gordon Chalk (a Red Cross advisor). He recommended that the five fire doors within the hallway at 53, St Luke's Terrace be fitted with self- closing arms. This work was completed and funded through a Community Chest grant. An application has been submitted to the City Council's Neighbourhood Scheme to cover the cost of a fire door and disabled access through the kitchen. Early preparation for the Society's 150th anniversary in 2027 has commenced. The Trustees wish to record their thanks to all staff and volunteers who have worked tirelessly throughout the year. - 5-
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 2025 6. Financial Review The charitable company had total reserves of £163,777 at the year end. The charity has restricted reserves of £17,405 and no free reserves. The trustees are confident that the shortfall in reserves can be reversed in the forthcoming years as activities of the charity return to pre pandemic levels. 1. 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 recommendations of the Charity Commission and of the accounting profession with regard to the form and content of the financial statements 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 time 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 irregularities. 8. Risk Assessment The council has considered any risks to which the charitable company might be exposed and is satisfied that the administrative, investment and financial procedures which are in place minimise the risk of any loss to the charitable company. 9. Exemption Statement These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Signed on behalf of the Council 2 Soun Mrs. L. Scanlan Chair • Date: 25.11•25 - 6-
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 2025, which comprise the statement of financial activities, balance sheet and the related notes, including a summary of significant accounting policies. Respective responsibilities of trustees and examiner The members are responsible 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 procedures 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. Basis of independent examiner's report My examination was carried out in accordance with the general Directions 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 accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below. Independent examiner's 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 Nabad o Paul Newbold BFP FCA Torgersens Chartered Accountants East Suite, Ground Floor Avalon House Sunderland SR5 3XJ Date: 25.11.25 - 7-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestricted Restricted Note Funds Funds Income and endowments Donations and legacies Other trading activities Investment income Income from charitable activities 6 7 8 Total Income 11,477 6,013 38 146,261 17,200 180,989 Expenditure Expenditure on raising funds Expenditure on charitable activities Total expenditure 9 17,646 213,476 231,122 Net (Gain)/Loss on investments 13 : 35,005 - 35,005 34,339 34,339 Total 2025 11,477 6,013 38 181,266 17,200 215,994 17,646 247,815 265,461 Total 2024 € 71,610 2,931 190,017 11,081 275,632 18,118 248,629 266,747 Net Income Transfers between Funds Net Movement in Funds Total funds brought forward at 1 April 2024 Total funds carried forward at 31 March 2025 (50,133) 22,778 (27,355) 173,727 666 (22,778) (22,112) 39,517 (49,467) 8,885 - (49,467) 213,244 8,885 204,359 146,372 17,405 163,777 213,244 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. - 8-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 Note Fixed Assets Tangible fixed assets Investments Current Assets Stocks Debtors Investments- deposits Cash at bank Cash in hand Creditors: amounts falling due within one year Net Current Liabilities Net (Liabilities)/Assets Funds of the Charity Unrestricted funds Restricted funds Total Funds 2025 € 227,613 326 227,939 18 1,561 42,550 297 929 45,338 (109,500) 19 20 (64,162) 163,777 146,372 17,405 163,777 2024 220,695 322 221,017 1,144 85,178 172 86,834 (94,607) (7,773) 213,244 173,727 39,517 213,244 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 members have required the company 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 councit on 25.1|:25 and are signed on their behalf by: ASook ..... Chair Ars. L. Scanla Company Registration No: 02433540 The notes on pages 9 to 19 form part of these financial statements. - 9-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1. 2. 3. General information The charity is registered in England and Wales and is incorporated. The address of the principal office is 53 St Lukes Terrace, Pallion, Sunderland SR4 GNF. Statement of compliance These financial statements have been prepared in compliance 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 th Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charitie: SORP (FRS 102)) and the Charities Act 2011. Accounting Policies Basis of preparation The financial statements have been prepared under the historical cost convention, as modified by the inclusion of investments at market value and in accordance with the Statement of Recommended Practice: Accounting 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 statements are rounded to the nearest £. Going 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 £64,162 and was dependant on the continuing support of creditors. The trustees are confident that contracted service income and grant funding nor, The rises are conte obtained for the forthcoming periods will enable the charity to continue its operations. Incoming resources All income is recognised once 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 performance 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 miscellaneous income such as from room hire and fundraising income. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally 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. - 10 -
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 3. Accounting Policies (continued) Resources 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 o he 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. Depreciation Depreciation is calculated to write down the cost, less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives. The rates generally applicable are: Freehold Property Office equipment Office furniture Computer web design Fixtures and fittings 2% straight line 20% straight line 10% straight line 33.3% straight line 10% 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 fair value 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 proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the Stocks Stocks are stated 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. - 11-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 3. Accounting Policies (continued) 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 term on a straight-line basis. Funds Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Financial 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 evidences a residual interest in the assets of the company after deducting all of its liabilities. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service 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. When 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 service, 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 period 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 term on a straight-line basis. - 12-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 4. Donations and legacies Membership income Anton Jeurgon Charitable Trus ther donations receive MurSLoved Charitable Giving Edna Dobie CAF PEgdell Leslie Butler Hylton Blind Society P Richardson Visionaid Tech Ltd Collection towards training kitchen 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 Collection Boxes Legacies JE Martin Mrs Geraldine Tasker Mr Anthony Turner Unrestricted Restricted Funds Funds 2,162 5,000 3,870 297 200 119 100 100 100 2,400 (8,500) Total 2025 2,162 5,000 3,870 297 200 119 100 100 100 2,400 (8,500) Total 2024 € 1,595 1,736 : 1,195 (2,075) 50 14,042 500 127 200 119 1,000 500 121 5,000 125 330 351 102 46,592 71,610 5. 5,000 629 11,477 - 5,000 629 11,477 In the previous year unrestricted income was £57,568 and restricted income was £14,042. Other trading activities Fundraising events Unrestricted Restricted Funds Funds 6,013 6,013 Total 2025 6,013 6,013 Total 2024 2,931 2,931 All income 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 2025 6. Income from investments Dividends - equities Bank interest Unrestricted Restricted Funds Funds 4 34 38 All income received in the previous year was unrestricted. 7. Income from charitable activities Total 2025 34 38 Resource Centre income Rehabilitation services for beneficiaries Service delivery in County Durham Grants for specific activities Royal Victoria Trust Barbour Foundation The Morrisons Foundation Persimmon Homes National Lottery Less due to Hartlepool Vision Less due to Newcastle Vision Sunderland City Council Catherine Cookson Community Foundation Hadrian Trust Pocklington Trust Pocklington Trust - Final payment to Hartlepool Vision Unrestricted Restricted Funds Funds € 2,448 41,422 49,495 4 ... 5,000 5,000 5,340 3,000 15,000 - 21,556 105,015 (35,005) (35,005) Total 2025 € 2,448 41,422 49,495 5,000 5,000 5,340 3,000 120,015 (35,005) (35,005) 21,556 : : (2,000) (2,000) 146,261 35,005 181,266 In the previous year unrestricted income was £143,417 and restricted income was £46,600. 8. Other Income Unrestricted Restricted Funds Funds Sundry income Rental income 2,000 15,200 - 17,200 All income received in the previous year was unrestricted. Total 2025 2,000 15,200 17,200 Total 2024 7 Total 2024 2,093 36,220 40,416 : 135,268 (35,084) (35,084) 23,188 1,000 15,000 1,000 6,000 190,017 Total 2024 431 10,650 11,081 - 14-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 9. Expenditure on raising funds Unrestricted Restricted Funds Funds € Fundraising staff costs 17,646 17,646 All expenditure in the previous year was unrestricted. 10. Expenditure on charitable activities Unrestricted Restricted Funds Funds Charitable activities Services and support to beneficiaries Resource Centre costs Development of service costs Staff travel expenses Volunteer expenses ight loss rehab staff cost undry charitable expense 1,924 52,291 3,635 1,069 59,646 10,571 46 2,677 420 18,203 3,333 Total 2025 17,646 17,646 Total 2025 1,970 52,291 6,312 1,489 77,849 13,904 Total 2024 18,118 18,118 Total 2024 2,255 51,040 8,543 453 82,250 11,914 156,455 Management and administration of charity Staff costs Rent Rates and water Light and heat Insurance Repairs and maintenance Telephone and postage Printing and stationery Computer costs Staff training Sundry expenses Subscriptions Legal and professional fee Accountancy fees Depreciation Bank charges Interest payable and similar charges Interest on late payment of PAYE 17,708 25,000 1,632 4,000 5,000 21,708 30,000 1,632 5,430 5,430 2,305 1,842 6,297 : 2,305 1,842 6,297 2,834 2,834 2,310 1,081 1,230 183 : 2,970 1,081 1,230 183 709 - 709 3,012 3,012 10,162 - 10,162 317 317 139 139 2,149 2,149 213,476 34,339 247,815 23,009 30,000 1,375 4,036 2,454 1,285 5,807 2,526 4,559 889 923 1,576 2,896 7,975 30 1,507 1,327 248,629 In the previous year unrestricted expenditure was £217,709 and restricted expenditure was £30,920. - 15-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 11. Staff costs The cost of employing staff Wages and salaries Social Security costs Pension costs Total 2025 158,195 3.433 169,370 Total 2024 162,264 7,135 4,468 173,867 The average number of staff during the year amounted to 8 (2024: 8). No employee received more than £60,000 during the year. 12. Trustee remuneration and the cost of key management personnel The trustees received no remuneration or expenses during the current and previous year. The total employee benefits of the key management personnel of the charity were £43,802 (2024: £43,921). 13. Realised Gains & losses on investment assets 2025 - 2024 - Gains/(losses) on Sale/Reorganisation of investments 14. Tangible Assets Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 Office Freehold Computer Fixtures and equipment & Property Web Design fittings furniture 220,000 220,000 4,400 4,400 8,800 211,200 215,600 22,331 22,331 18,488 3,839 22327 4 3,843 1,280 17,080 18,360 768 1,365 2,133 16,227 512 58,043 58,043 57,303 558 57,861 182 740 Total 301,654 17,080 318,734 80,959 10,162 91,121 227,613 220,695 - 16 -
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 15. Investments Quoted UK investments Market value At 1 April 2024 Additions to investments at cost Disposals Gain/(loss) on revaluation At 31 March 2025 2024 € 322 2024 322 : 322 2024 Historical cost at 31 March 2025 UK listed investments are represented by: Investment trusts and unit trusts 326 2025 408 2025 326 408 2024 322 The following investments individually make up more than 5% of the market value of total investments: Aviva Investors Property Feeder Inc Fund Class 2 326 322 16. Debtors Other debtors and prepayments 2025 42,550 42,550 2024 85,178 85,178 17. Investments - Deposits Barclays Business Base Rate Tracker 2025 1 2024 - 17-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 18. Creditors: amounts falling due within one year Other taxes and social security Other creditors Pensions 37,790 60,090 11,620 109,500 19. Unrestricted reserves 2024 16,426 68,319 9,862 94,607 Balance 31.03.25 General funds Accumulated surplus Total unrestricted funds General funds Accumulated surplus Total unrestricted funds Balance Incoming Outgoing 01.04.24 Resources Resources Transfers 173,727 173,727 180,989 180,989 Balance Incoming 01.04.23 Resources 186,564 186,564 214,990 214,990 (231,122) (231,122) 22,778 22,778 Outgoing Resources Transfers (235,827) (235,827) 8,000 8,000 146,372 146,372 Balance 31.03.24 173,727 173,727 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. - 18 -
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 20. Restricted reserves Balance Incoming Outgoing 01.04.24 Resources Resources Restricted reserves Equipment purchases Event Activities National lottery Total unrestricted funds 27,354 1,185 10,978 39,517 35.005 35,005 (34,339) (34,339) Transfers (11,800) (10,978) (22,778) Balance 31.03.25 15,554 1,185 666 17,405 Balance Incoming 01.04.23 Resources Transfers Restricted reserves Equipment purchases Event Activities National lottery Total unrestricted funds 5,812 1,185 10,798 17,795 21,542 39,100 60,642 1009201 (30,920) : (8,000) (8,000) Balance 31.03.24 27,354 1,185 10,798 39,517 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 represents amounts for the provision of sporting activities to members. There were no income, expenditure or transfers on this reserve during the year. National 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 transferred to general reserves. 21. Commitments under Operating Leases The total future minimum lease payments payable under non-cancellable operating leases are as follows: Operating leases which expire: Within 1 year Within 2 to 5 years After more than 5 years 2025 € 30,955 120,478 120,000 271,433 2024 30,955 121,433 150,000 302,388 22. Related Party Transactions During the year there were advances on loans from certain employees of £2,875 (2024: £19,226) and amounts repaid by the charity of £14,157 (2024: £9,608). The amount due to the employees at the year end was £42,447 (2024; £53,729). - 19 -
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 22. Related Party Transactions (continued) Juring the year amounts of Enil (2024: £5,000) were repaid to a trustee. The balance due to th rustee at the vear end was £nil (2024: £nil) - 20 -
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 23. Analysis of net assets Restricted Income Fund Restricted Income Fund Unrestricted Income Fund Balance at 31.03.25 Unrestricted Income Fund Balance at 31.03.24 Tangible fixed assets Investments Current assets Current liabilities Total unrestricted funds 227,613 326 27,933 (109,500) 146,372 17,405 17,405 227,613 326 45,338 (109,500) 163,777 220,695 322 47,317 (94,607) 173,727 39,517 39,517 220,695 322 86,834 (94,607) 213,244 - 21-
THE SUNDERLAND AND NORTH DURHAM ROYAL SOCIETY FOR THE BLIND (LIMITED BY GUARANTEE) SCHEDULE OF INVESTMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment Trusts Aviva Property Feeder Inc Fund Class 2 Income Units Total unrestricted funds Costat Purchased 01.04.24 during year Disposed of during Profit/ (loss) year on Disposal Cost @ 31.03.25 408 408 408 408 Market Market value at value at 31.03.25 31.03.24 326 326 322 322 - 22 -