Charlty rogistration number NIC 106091 (Northern Irolandl BELFAST ASSOCIATION FOR THE BLIND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BELFAST ASSOCIATION FOR THE BLIND LEGAL AND ADMINISTRATIVE INFORMATION Trustses MrA H MacLaughlin Mrs H D Ferres Mrs G M Clarke Mrs S Cunningham Mr R D PercevaJ-PTice Mr R R Mcclure Mr A L Sweeney Professor A Slitt Mr R W Gardiner Mr S Rankin Ms E Gowdy ProfessorAAzuaro-Blanco Mrs S Mccracken Ms C FulSerton Charity numbgr (Northern Ireland) NIC 106091 Principal address 12 Shamian House Old Windmill Road Crawfordsburn Co Down BT19 1XN Independent oxaminer Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Soli¢ltors King & Gowdy 298 Upper Newtownards Road Belfast BT4 3EJ
BELFAST ASSOCIATION FOR THE BLIND CONTENTS Pag• Tru$lees' report Independent examiner's report Slalemenl of financlal a¢tivilies Balance sheet Notes to the financial slalemenls 7-12
BELFAST ASSOCIATION FOR THE BLIND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present thelr annual report and financial stalements for the year ended 31 December 2025. History The Belfast AocIation for the Employment of the Industrious Blind was estsblished in 1871 to provide employment for blind people. The Workshops for the Blind Ilhe trading name of the Asso¢ialionl traded for over 100 years. before selling ils business and premises in Lawnbrook Avenue, Belfast to Ulster SheKed Employrnent Limited, a government sponsored concem in 1980. The Trustees of the association invested the proceeds from the sale of the Lawnbrook premises and the charity's tille was then changed lo The Belfast Association for the Blind. Its constitution was amended under a Cy Pres scheme which was approved by the Court on 21 June 1982. The asso¢ialion was registered with The Charity Commission for Northern Ireland in 2078. its registered number being NIC 106091. The financial statements have been prepared in a¢cordan¢e with the accounting poli¢ies set out in note 1 to the financial slalements and comply wth the charty's governing document. the Charities Act (Northem Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Pra¢lice applicable lo ¢harilies prnparing Ihgir account$ in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" ObSactlve$ and aclivltl a. Policios and objectives The principal activity of the Association during the year continued lo be that of giving financial assistan lo registered blind people within Northern Ireland. to former employees of the Workshops for the Blind and lo voluntary organisalions closely associated with the blind. Other bodies receivlng assistance are those in the field of educatlon and medlcal research and equipment in relalitsn to the blind and visually impaired. b. Maln actlvltles undertaken to further the Charlty'$ purpos0$ for tho publ1¢ b•neflt The charity has several activities running. The resuf(s of the main ones are listed in the Revw of aNItieS below.. Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities it charity should undertake.
BELFAST ASSOCIATION FOR THE BLIND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Achievements and performance Significant actrrfils and achievements against obiectwes During the year the association made and committed donalK)ns, grants and gratuities lo people who are blind and visually impaired in N Ireland. ex-employees of the Workshops for the Blind and charities for the blind amounting to £67,273 Ilast year £46.4501. The major elements of these donations included £25.000 to Angel Eyes and £5,000 lo Ms Claire Bowes. who lost her sight in the Omagh bomb, and who is now pursuing a PhD in musical studies. The associab'on is o)mmiited to maintaining support for both Angel Eyes and Ms Bowes for al least the nfjxt two years. During the year the association made a donation of £3.540 to Queens University Belfast for a Braille Reader. The association is still cornmitted lo supporting a project to be carried out over the next financial year lo assess the number of people in N Ireland with severe visual loss and socio-econgmic deprivation. 11 is likely that, because of the increasing cost of Tesearch projects. the association'5 grant5 in tUre are more likely to be geared towards education and development of ophthalmology studen15, and provision of appropriate equipment. Financial roviaw Financial PerfomJan¢e The Ststement of Financial Activtiies, whi¢h incorporates the Income and Expenditure Account for the year, can be found on Page 5 of this report. The nel movement of funds for the year shows an increase of £274.290, compared to a increase of £69.350 last year, largely due lo the reduction in research funding as noted above. The association recorded a surplus of £13,372 Ilasl year surplus £32.7321 before realised and unrealised gains on investments of £260,917 Ilasl year losses of £36,618). Al the year end therefore the asso¢iation had accumulated unrestricted funds amounting to £2.656.380 Ilasl year £2,382.0891. The investment policy of the trustees, guided by the association's advisors, Evelyn Partners, is aimed at long temi growth in capital and revenue funding. The value of the association's investments at the year end amounted to £2.583,607, representing a small increase of 11.260h from the previous year. The was however a decrease in income from the investments during the year of almost £5,000. 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 stalemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Reserves polKy The Association actively manages ils investment portfolio so as lo maximise returns to the Assoa*ion wlhin acceptable risks and to provide adequate reserves lo 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. Plans for future rIodS Future policy will be lo ensure a proper balance beeen capital growth and sufficient revenue to provide for the needs of the Association as budgeted by il and approved by the Trustees
BELFAST ASSOCIATION FOR THE BLIND TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Structure. governance and management Belfast Associ8tlon for the Blind is a registered charity, number NIC 106091, and Is ¢onslituled under a Trust deed The Trustees who served durlng the year and up lo the dale of signature of the financial slalemenls were.. MrA H MacLaughlin Mrs H D Ferres Mrs G M Clarke Mrs S Cunningham Mr R D Perceval-Price Mr R R Mcclure Mr A L Sweeney ProfessorA Stitt Mr R WGardiner Mr S Rankin Ms E Gowdy ProfessorAAzuaro-Bl8nco Mrg S Mccracken Ms C Fullerton Recnjitmenl and appointment oftmstees The Assoaalion is managed by a Board of Trustee3 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 lo ensure a broad representation of experience and professional expertise. No remuneration is paid to the Trustees Funds held as custodian trustee No funds are held 8S Custodian on behalf of others The Trustees, report was approved by the Board of Trustees. Mr A H Ma¢Laughlin Truste 14 May 2026
BELFAST ASSOCIATION FOR THE BLIND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST ASSOCIATION FOR THE BLIND I report on the financial slalements of the charity for the year ended 31 De¢ember 2025, which a sel out on pages 51012. Respective responsibilities of charity Trusteos and examinor As the charity's Trustees you a sponsbIe for the preparation of the financial statements in accordance with the Charities Act (Northem Ireland) 2008. 11 is my responsibility lo- examine the financlal statements under section 65 of the Charities Act (Northern Irelandl 2008., follow the procedures laid down in the general Directions given by the Commission under section 6519llbl of the Charities Act INorthern Ireland) 2008., and slate whether particular matters have come to rny attention. Basis of independent examinerfs report I have examined your charity financial statements as required under section 65 of the Charitie5 Act (Northern Ireland) 2008 and my examination was carried out in accordance wth the general Directions given by the Charity Commission for Northern Ireland under section 65{91{bl of the Charities Act. The examinallon in¢luded a review ol the accounting records kept by the charity and a comparison of the financial slalemenls presented with those record5. It also ineluded consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters. My role is lo slate whether any material matters have come lo my attention gSvlng me cause lo believe Ihal.. 1. Accounting records were not kept in accordance with section 63 of the Charilles Act (Northern Ireland) 2008,. or 2. The financial statements do not accord with those accounting records,. or 3. The financial statements do not comply with the accounting qUireMentS of the Charities Aet (Northern Ireland) 2008., or 4. There is further information needed for a proper understanding of the finan¢ial ststements to be reached. Independent examiner's statament I have completed my exarnination and I have no ¢oncern5 in respect of the matters 11) 1014) listed above and, in conne¢ts"on with following the Directions of the Charity Commission for Northem Ireland. I have found no matters that require drawing lo your attention. Mls¢ampb¢ll & Co 6 Annadale Avenue Belfast BT7 3JH 14 May 2026
BELFAST ASSOCIATION FOR THE BLIND STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Unrg$trl¢tgd funds funds 2025 2024 Notes Income from: Donations and legacies Investments 100 91,637 86,423 Total income 86,423 91.737 Expenditure on: Raising funds Charitable activities Other expenditure 6,542 66.133 376 6.271 52.580 154 Total gxpenditure 73.051 59.005 Net gains on investments 10 260,917 36.618 Not incomo and movèment in funds 274,289 69,350 Reconciliation of funds: Fund balances at 1 January 2025 2,382,089 2,312,739 Fund balanca$ at 31 December 2025 2,656,378 2,382,089 The statement of financial activities includes all galns and losses recognlsed In the year. All income and expenditure derive from continuing aclivilies.
BELFAST ASSOCIATION FOR THE BLIND BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Nots$ Flxed assets Investments 12 2.583,607 2.322.313 Curr&nt assets Investments Cash al bank and in hand 13 10,897 67.674 9.541 59,349 78.571 68.890 Creditors.. amounts falling due within one year 14 15,800) 19.1141 Ngt current a$$ets 72,771 59.776 Totsl assets less Current Ilabllltlos 2,656,378 2.382.089 Th¢ funds of the charlty Unrestricted funds 15 2.656,378 2.382.089 2.656.378 2,382,089 The finaneial statements were approved by the Trustees on 14 May 2026 MrA H MacLaughlin Trustee Mr Tru Gardiner
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢ountlng policies Charity informatlon Belfast Association for the Blind is a registered charity, number NIC 1C6091. and Is consliluled under a Trust deed 1.1 Accounting convantion The financial slalements have been prepared in accordance with the charity's governing document. the Charities Act {Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounb"ng and Reporting by Charities.. Statement ol Recommended Practice applicable to charits.es preparing their accounts in accordance with the Financial Reporting StandaTd applicable in the UK and Republic of Iland IFRS 1021. The ¢harity is a Public Benefit Enb'ty as defined by FRS 102. The charity has taken advantage of the provisign$ in the SORP for charities not to prepare a slatunent of cash flows. The financial ststemenls are prepa in sterling, which is the functional currency of the charity. Monetary arnounts in these financial ststernen15 are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention. The prinrApal accounting policies adopted are set out below. 1.2 Going concorn At the lime of approving the financial 5talemenls, the Trustees have a reasonable expectation that the charity has adequate re50urce5 to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of a¢¢ounling in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in fvrtherance of their charitable objectives. Restricted funds are subject lo speclfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. Endowment funds are subject lo spectfic conditions by donors that the capital must be maintained by the charity. 1A Income Income is recognised when the charity 1$ legally enlilled to il after any performance conditions have been met. the amounts can be measured reliably, and it ts probable that income wll be received. Cash donations are recognlsed on receipt. Othor donations are recognised once the charity has been notified of the donation, unless performance condition$ require deferral of Ihe amount. Income lax recoverable in relation lo donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dL%tribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a ntingent asset.
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or conslructs've obligation lo transfer economic benefit lo a third party, il 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 ol direct costs and shared costs, including support costs involved in undertaking each activty. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activty and support costs which are not attributable to a single activity are apportioned between those activit3 on a basis consistent th the use ol resources. Central staff costs are allocated on the basis of lime Spent, and depreciation charge5 are allocated on the porbon of the asset's use. 1.6 Flxed asset invèstments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in lair value are recognised in nel incomellexpendrf(urel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-temi liquid Investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instrumènts Th¢ charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the ontractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention t¢ settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic finan¢ial assets Basic financial assets, which Include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are ngt amortised. Basic financlal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is rneasured at the present value of the future payments discounted at a markel rale gf interest. Financial liabilities classified as payable within one year are not amorti'sed. Debt instruments are sub$equenUy carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the Ordin course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method.
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies {Contlnuedl Derecognition of finan¢lal liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are dischargeil or cancelled. Crftical accounting ostimats$ and judgements In the application of the charity's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting eglimales are recognlsed in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revlsion affects both current and future periods. Income from donatlorts and legaties Unrestrlctsd funds 2025 Unrestricted funds 2024 Donations and gifts 100 Income from investrnents Unrestrictad Unrgstricted funds funds 2025 2024 Income from listed investments Interest receivable 86,238 185 91,212 425 86,423 91,637 Expenditure on raising funds Unrestricted Unrestricted fund5 funds 202S 2024 Investmont management 6.542 6.271
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expanditure on charitable a¢tlvltle$ Charitable expediturè 2025 Charitable expediture 2024 Direct costs Gratulles to ex-employges of WFB Donations lo individuals Grants & appeals 17.300 12,733 34.240 16,400 10,136 23,914 64,273 50,450 Share of support and governance costs Iseo nots 71 Governance 1.860 2,130 66.133 52,580 Analysis by fvnd Unrestricted funds 66,133 52,580 Support Costs allocalod to a¢tlvllles 2025 2024 Independent examination fee 1.860 2,130 Analysod between: Charitsble expedlture 1,860 2,130 Trusteès None of the Tru51ees {or any persons connected with them) received any remuneration or benefits from the charity during the year. Employges There We no employees durlng the year. 10-
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 10 Gains and losses on inve5tment$ Unrestricted Unrestrlctsd funds fund5 2025 2024 Gainsl{losses) arising on.. Realised gain(lO$se$l on sale of investrnenls Unrealised gainslllossesl on revaluation of investments 19251 261,842 16.441 20,177 260,917 36,618 11 Taxation The charity is exempl from taxation on ils activities be¢ause all ils income is applied for charitable purposes. 12 Flxed asset investmgnts Unlisted Investments Cost or valuation At 1 January 2025 Additions Valuation Changes Disposals 2.322,313 256,085 286,822 1281,6131 At 31 December 2025 2,583,607 Carrying amount At 31 December 2025 2,583,607 At 31 December 2024 2,322,313 13 Current asset invastmgnts 2025 2024 Unlisted Inveslmènls 10,897 9,541 14 Credltor8: amounts falling due *rythln one year 2025 2024 Other creditors Accruals and deferred income 4,000 1,800 7.314 1.800 5,800 9.114 11
BELFAST ASSOCIATION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 15 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to speciflc conditions by donors and grantors as lo how they may be used. These include designated fijnds which have been sel aside out of unStriCted funds by the trustees for specific purposes. At 1 January 2025 Incorning reyources Resources expended Gain$ and lo$s&s At31 Decembèr 2025 General funds 2.382.089 86.423 173,0511 260,917 2,656.378 Prevlous year: At 1 January 2024 Incomlng Resourcos re$our¢•$ exnd9d Galns and losses At31 Dgcember 2024 General funds 2,312,739 91.737 {59,0051 36,618 2.382.089 16 Post Balance Sheet Event After the reporting date. the charity received a donation of £125,000. No entlllement lo this donation existed al the year end and accordingly il has not been recognised in the income for the year ended 31 December 2025. The donation wll be recognised as income in the subsequent financial period and applied in furtherance of the charity's objectives. 12-