Charity number.. NIC 106091
BELFAST ASSOCIATION FOR THE BLIND
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

BELFAST ASSOCIATION FOR THE BLIND
CONTENTS
Page
Reference and Administrative Details of the Charity, Its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-20

BELFAST ASSOCIATION FOR THE BLIND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Mr A.H. MacLaughlin
Mrs H.D. Ferres
Mrs R.A. Clarke
Mrs S. Cunningham
Professor D.B. Archer OBE
Mr R.R. Mcclure
Mr R.D. Perceval-Price
Mr A.L. Sweeney
Mr S. Rankin
Professor A. Stitt
Ms E. Gowdy
Mr R. Gardiner (Appointed g May 20231
Charity registered
number
NIC 106091
Principal office
12 Sharman House
Old Windmill Road
Crawfordsburn
BT19 1XN
Independent Examiner
Miscampbell & Co
Chartered Accountants and Registered Auditors
6 Annadale Avenue
Belfast
BT7 3JH
Bankers
Danske Bank
Donegal Square West
Belfast
BT16JS
Solicitors
King & Gowdy
298 Upper Newtownards Road
Belfast
BT4 3EJ
Page 1

BELFAST ASSOCIATION FOR THE BLIND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their Annual Report together with the financial statements for the year ended 31 December
2023.
History
The Belfast Association for the Employment of the Industrious Blind was established in 1871 to provide
employment for blind people. The Workshops for the Blind (the trading name of the Association) traded for over
100 years, before selling its business and premises in Lawnbrook Avenue, Belfast to Ulster Sheltered
Employment Limited, a government sponsored concern in 1980.
The Trustees of the association invested the proceeds from the sale of the Lawnbrook premises and the
charity's title was then changed to The Belfast Association for the Blind. Its constitution was amended under a
Cy Pres scheme which was approved by the Court on 21 June 1982.
The association was registered with The Charity Commission for Northern Ireland in 2018, its registered number
being NIC 106091.
Objectives and activities
a. Policies and objectives
The principal activity of the Association during the year continued to be that of giving financial assistance to
registered blind people within Northern Ireland, to former employees of the Workshops for the Blind and to
voluntary organisations closely associated with the blind.
Other bodies receiving assistan￿ are those in the field of education and medical research and equipment in
relation to the blind and visually impaired.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The charity has several activities running. The results of the main ones are listed in the Review of activities
below.
Achievements and performance
Page 2

BELFAST ASSOCIATION FOR THE BLIND
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance (continued)
a. Review of activities
The investment policy of the trustees, guided by the association's advisors, Evelyn Partners, has ensured long-
term growth in capital and revenue funding. During the year the trustees realised £50,000 of investments to
smooth payments to benefit grantees, projects. The value of the association's investments at the year end has
therefore fallen by a small amount since the previous year, but the trustees are confident that the investment
policy agreed with its advisors is sound.
In 2023 the association made and committed donations, grants and gratuities to visually handicapped people in
N Ireland, ex-employees of The Workshops for the Blind and charities for the blind amounting to £48,010 (last
year £34,361). In addition, grants amounting to £96,499 (last year £62,000} were made to research institutions,
along with a grant of £45,000 to Belfast Health and Social Care Trust for the purchase of equipment.
The following organisations benefitted in 2023:
Queen's University Belfast
Acorn Arts
Atlanta Swimming Club
Edgecumbe Club
Angel Eyes
During the year the association funded the production costs of a book "Fingers That See" written by Trustee, Mr
Alasdair MacLaughlin, detailing its history since its foundation as the Belfast Association for the Employment of
the Industrious Blind in 1871. The total costs of this book amounted to £4,272, and the association has to date
received £640 in donations towards this.
Page 3

BELFAST ASSOCIATION FOR THE BLIND
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
The Association actively manages its investment portfolio so as to maximise returns to the Association within
acceptable risks and to provide adequate reseNes to meet the needs of the Charity into the foreseeable future.
The running costs of the Charity are negligible in the context of the reserves held.
c. Financial performance
The Statement of Financial Activities, which incorporates the Income and Expenditure Account for the year can
be found on Page 7 of this report. The Net movement of funds for the year is a decrease of £118,628 (last year
£107,009). The main reason is a significant increase in the value of research and equipment grants of
approximately £90,000 during the year. At the year end the association held total funds of £2,312,739 (last year
£2,431,367).
During the year the association received total income of £98,372 (last year £95,941), while expenditure
amounted to £204,205 (last year £108,533).
The association therefore incurred a net deficit of £105,833 (last year £12,592) before realised and unrealised
losses on the value of investments of £12,796 (last year £94,417).
The value of investments held at the year end amounted to £2,261,926 (last year £2,331,026) which, after the
realisation of £50,000 of investments during the year represents a small percentage decrease in the year. There
has been a modest increase in this value since the year end.
structure, governance and management
a. Constitution
Belfast Association for the Blind is a registered charity, number NIC 106091, and is constituted under a Trust
deed.
b. Methods of appointment or election of Trustees
The Association is managed by a Board of Trustees which meets on a regular basis, chaired by Mr A H
MacLaughlin. The appointment of new Trustees is made by the existing Trustees. The policy of the Trustees is
to ensure a broad representation of experience and professional expertise. No remuneration is paid to the
Trustees.
Plans for future periods
Future policy will be to ensure a proper balance bel￿een capital growth and sufficient revenue to provide for the
needs of the Association as budgeted by it and approved by the Trustees.
Page 4

BELFAST ASSOCIATION FOR THE BLIND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Funds held as custodian
No funds are held as custodian on behalf of others.
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in Northern Ireland requires the Trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP {FRS 102).,
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102} have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008,
the Charities {Accounts and Reports} Regulations {Northern Ireland) 2015 and the provisions of the Trust deed.
They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for
the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by=
Mr A. H. MacLaughlin
{Trustee)
Date.. 16 May 2024
Page 5

BELFAST ASSOCIATION FOR THE BLIND
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of Belfast Association for the Blind
I report on the financial statements of the charity for the year ended 31 December 2023 which are set out on
pages 8 to 20.
Respective Responsibilities of charity Trustees and Examiner
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities
Act (Northern Ireland) 2008.
It is my responsibility to..
examine the accounts under section 65 of the Charities Act"
follow the Pro￿dureS laid down in the general Directions given by the Commission under section 65(9)(b)
of the Charities Act., and
state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
I have examined your charity accounts as required under section 65 of the Charities Act and my examination
was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland
under section 65(9}(b) of the Charities Act.
My examination included 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 you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe..
that accounting records were not kept in accordance with section 63 of the Charities Act.
that the accounts do not accord with those accounting records-
that the accounts do not comply with the accounting requirements of the Charities Act;
that there is further information needed for a proper understanding of the accounts to be reached.
Independent Examiner's Statement
I have completed my examination and have no concerns in respect of the matters (1) to {4) listed above and, in
connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters
that require drawing to your attention.
This report is made solely to the charity's Trustees. as a body, in accordance with section 65{31(a) of the
Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that Act. My work has been
undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an
Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept
or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for
this report.
Page 6

BELFAST ASSOCIATION FOR THE BLIND
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Signed..
Dated." 16 May 2024
Misca
pbell & Co
Chartered Accountants and Registered Auditors
6 Annadale Avenue
Belfast
BT7 3JH
Page 7

BELFAST ASSOCIATION FOR THE BLIND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
Other income
640
97,356
376
640
97,356
376
95, 666
275
Total income
Expenditure on:
Raising funds
Charitable activities
98,372
98,372
95,941
6,438
197,766
6,438
197,766
6. 644
101,889
Total expenditure
204,204
204,204
108. 533
Net losses on investments
112,796)
(12,7961
(94,417)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
(118,628)
{118,628)
(107, 009)
2,431,367
(118,628)
2,431,367
(118,628)
2,538,376
(107, 009)
Total funds carried forward
2,312,739
2,312,739
2,431,367
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 20 form part of these financial statements.
Page 8

BELFAST ASSOCIATION FOR THE BLIND
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Investments
2,261,926
2,331,026
2,261,926
2,331,026
Current assets
Investments
Cash at bank and in hand
12
39.192
17,059
33, 745
72,916
56,251
106,661
Creditors.. amounts falling due within one
year
13
15,438)
(6,320)
Net current assets
50.813
100,341
Total assets less current liabilities
2,312,739
2,431,367
Net assets excluding pension asset
2,312,739
2,431,367
Total net assets
2.312,739
2,431,367
Charlty funds
Unrestricted funds
14
2,312.739
2,431.367
Total funds
2,312,739
2,431.367
The financial statements were approved and authorised for issue by the Trustees on 16 May 2024 and signed on
their behalf by..
Mr A.H. MacLaughlin
(Trustee)
Mr R.R. Mcclure
(Trustee)
The notes on pages 10 to 20 form part of these financial statements.
Page 9

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General information
The Association is a charity operating in Northern Ireland. The Association is registered with Charity
Commission Northern Ireland and has the registered number NIC106091. The registered office address
is 12 Sharman House, Old Windmill Road, Crawfordsburn, BT19 1XN. The principal activity of the
Association continued to support the blind with education, training, skills, and financial assistsnce.
Accounting policies
2.1 Basis of preparation of financlal statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008.
Belfast Association for the Blind meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
The financial statements are presented in Sterling (£). The level of rounding is £1.
2.2 Going concern
The trustees have seen unprecedented disruption to economies worldwide due to the Covid-19
pandemic. The value of the Association's investments have fallen due to these conditions. However,
the trustees will continue to work with their professional advisers to manage and maximise both the
long-term capital value of the investments and the future income.
2.3 Income
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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to
them {through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
Charity, can be reliably measured.
Incorne tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
Page 10

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses} on
investments, in the Statement of Financial Activities.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page11

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes estimates and assumptions con￿mIng the future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Income from donations and legacies
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
640
640
Page 12

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Income from listed investments
97,356
97,356
95, 666
Total 2022
95,666
95, 666
other incoming resources
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Other income
376
376
275
Total 2022
275
275
Expenditure on raising funds
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Investment management
6,438
6,438
6, 644
Total 2022
6, 644
6,644
Page 13

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities
Activities
undertaken Unrestricted
directly
funds
2023
2023
Total
funds
2023
Total
funds
2022
Support costs
Governance costs
Grant funding costs
Other costs
4,272
245
4,517
1,740
173,309
18.200
208
1,740
173,309
18,200
1.320
80,761
19.600
4,272
193,494
197,766
101,889
Total 2022
101,889
101,889
Page 14

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities (continued)
Analysis of Charitable Activities
Grant
funding
costs Other costs
2023
2023
Support Governance
costs
costs
2023
2023
Total
funds
2023
Total
funds
2022
Honorarium
Grants for
research
Gratuities to ex-
employees of
WFB
2,000
2,000
2, 000
141,499
141,499
62, 000
16,200
16,200
57
17,600
46
Bank fees
Office and
general expenses
Independent
examination fees
Grants to
organisations for
the blind
Grants to blind
persons in the
community
57
188
188
162
1,740
1,740
1,320
19,850
19,850
9,400
11,960
11,960
9,361
245
1,740
173,309
18,200
193,494
101,889
Total 2022
208
1,320
80, 761
19.600
101,889
Independent examiner's remuneration
2023
2022
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
1,740
1,320
Page15

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).
11. Fixed asset investments
Listed
investments
Cost or valuation
At 1 January 2023
Additions
Disposals
Unrealised gainl (loss) on revaluation of investments
Realised gainsl (losses) on sale of investments
2,331,026
75.459
{131,763)
4.524
(17,320)
At 31 December 2023
2,261,926
Net book value
At 31 December 2023
2,261,926
At 31 December 2022
2,331,026
12.
Current asset investments
2023
2022
Investments- short term deposits
39,192
33, 745
Page 16

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Creditors: Amounts falling due within one year
2023
2022
other creditors
Accruals and deferred income
4,000
1,438
4,000
2,320
5,438
6,320
Page 17

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Statement of funds
Statement of funds - current year
Balance at
31
Gainsl December
(Losses)
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted funds
General Funds
2,431,367
98,372
(204,204)
(12,7961 2,312,739
Statement of funds - prior year
Balance at
31
December
2022
Balance al
1 January
2022
Gain
(Losses)
Income Expenditure
Unrestricted funds
General Funds- all funds
2,538,376
95,941
(108,533)
(94,417)
2,431,367
Page 18

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15. Summary of funds
Summary of funds - current year
Balance at
31
Gainsl December
(Losses)
2023
Balance at 1
January
2023
Income Expenditure
General funds
2,431,367
98,372
(204,204)
{12,796)
2,312.739
Summary of funds - prior year
Balance at
31
December
2022
Balance al
1 January
2022
Gains/
(Losses)
Income Expenditure
General funds
2.538,376
95,941
(108, 533)
(94,417)
2,431,367
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
2,261,926
56,251
(5,438)
2,261,926
56,251
(5,438)
Total
2,312,739
2,312,739
Page 19

BELFAST ASSOCIATION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
2,331,026
106,661
(6,320)
2,331,026
106,661
(6,320)
Total
2,431,367
2,431.367
17. Related party transactions
It was agreed by the trustees in October 2018 that Mr R Gillespie would receive an ex-gratia payment of
£2,000 per annum in view of his extraordinary service to the Association over many years. The amount
outstanding at the year end is £4,000 (2022- £4,000).
Page 20