2023-08-31-accounts - Sight Loss Ministries Limited

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Directors' Report and Unaudited Financial Statements for the year ended 31 August 2023

Company Registration number: NI681987 CCNI Charity Registration number: NIC108622

(A charitable company limited by guarantee not having a share capital.)

SIGHT LOSS MINISTRIES LIMITED Contents For the year ended 31 August 2023

	Page
Reference and administrative information	3
Trustees’ Annual Report	4 - 7
Statement of trustees’ responsibilities	7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance Sheet	10
Notes to the financial statements	11 - 15

SIGHT LOSS MINISTRIES LIMITED Charitable company Information For the year ended 31 August 2023

Registered charity name Sight Loss Ministries Limited Charity registration number NIC 108622 Company registration number NI681987 Registered Office 7 Holstein Lodge Lisburn BT28 2QB Trustees (also Company Directors) Eric Wilkinson James Wilson Gareth Smyth Company Secretary Leonard Campbell Independent Examiner Samantha Martin FCA Martin Bookkeeping and Accountancy Services 5 Magheralave Manor Lisburn BT28 3EN Bankers Ulster Bank 11-16 Donegall Square East Belfast BT1 5UB

SIGHT LOSS MINISTRIES LIMITED Trustees' Annual Report (including Directors' Report) For the year ended 31 August 2023

The trustees present their report and financial statements for the year ending 31 August 2023.

Structure, Governance and Management

The organisation is a charitable company limited by guarantee and incorporated in Northern Ireland on the 31 August 2021.

The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is governed by those Articles. In the event of the company being wound up, members are required to contribute an amount not exceeding £10 each. The company was formally granted charitable status by the Northern Ireland Charities Commission on the 20 April 2022.

Objectives and Activities

The purposes of Sight Loss Ministries are as follows:

(a) To advance the Christian Faith, particularly amongst people with sight loss in Northern Ireland and in such other parts of the United Kingdom or the world as the directors of the Charity may in time think fit;

(b) To relieve people with sight loss through the Charity’s mission who are in conditions of need or hardship because of, or in addition to their disability in Northern Ireland and in such other parts of the United Kingdom or the world as the directors of the Charity may in time think fit;

(c) To advance education in accordance with Christian principles amongst the general public and people with sight loss in Northern Ireland and in such other parts of the United Kingdom or the world as the directors of the Charity may in time think fit.

Sight Loss Ministries is a charitable mission organisation that provides holistic Christian resources and services for people with sight loss. We provide resources and services in the following ways:

We organise events where people with sight loss come together with sighted people. These events have a focus on the social and the spiritual;
We provide advice and support for people with sight loss on how they can utilise accessible Christian content in a suitable format for their needs;
We signpost to other services for people with sight loss in the UK.

Ensuring our work delivers our aims

Vision: Our vision is for people with sight loss to come to know Jesus as their Lord and Saviour and for those who are Christians to grow in their faith within supportive Christian communities.

Mission: Sight Loss Ministries is a charitable mission organisation that provides holistic Christian resources and services for people with sight loss.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. They also seek input from people who are part of our local Christian sight loss community. This feedback is important in shaping the activities that we deliver.

SIGHT LOSS MINISTRIES LIMITED Trustees' Annual Report (including Directors' Report) For the year ended 31 August 2023

Achievements and Performance

We continue to work as a volunteer organisation. Although we don’t have staff, we do have one missionary serving with the charity in the positions of Company Secretary and Services Coordinator. Originally, this was on a part-time basis, but became full-time on the 1st January 2023. This has given us some extra capacity to develop the ministry.

During this period, we held 3 main events. The first of which was our lunch event that took place on Saturday, the 26th November 2022 at Trinity Methodist Church, Lisburn. Around 50 people came along and we enjoyed time together socialising and an encouraging devotional talk from Robert Lacey. Robert reminded us that God wants to work through each believer, regardless of our situation. When thinking about the future, he also encouraged us that the best is yet to come. We are grateful to Torch Trust (another Christian sight loss charity) for producing the braille programmes for this event. Next came our Zoom outreach event that took place on the 24th February 2023 and focused on the cost of living crisis and people with sight loss. We made a promotional video for this event featuring a number of people with sight loss sharing about the event and inviting people to come along. We then shared the video on social media. At the event, Ashleen Johnston from Christians Against Poverty shared how people can get practical help through CAP services and elsewhere. The session also included time for questions, a worship song and a Christian epilogue by John Lattimer looking at how we can trust in God and follow his plans for our lives. Our last event of the year was a trip to Holywood, County Down on Saturday 24th June 2023. We met at the Coast restaurant for a meal, followed by an enjoyable walk along the seafront.

A lot of progress has been made with setting up the required systems, procedures and policies with regard to the administration of the charity. This included many sessions evaluating how the fundraising code impacts our fundraising activities and culminated in our registration with the Fundraising Regulator. During the period we also registered with the Northern Ireland Council for Voluntary Action (NICVA) and welcomed their helpful input and advice.

Plans for future developments

We plan to launch a befriending service for people with sight loss early in 2024. We will continue providing resources and services for people with sight loss in keeping with the areas described. We remain open to God’s leading and seek His guidance for any future developments.

Financial Review

The total income in respect of unrestricted funds for the Charity for the year amounted to £14,998 (2022: £3,337). This income was received through donations from individuals, sponsored activities, other organisations, events held throughout the year and also from grants from charitable organisations. The grants received amounted to £9,000 which are unrestricted grants to be used in line with the charity's purposes. Total unrestricted expenditure for the year amounted to £2,065 (2022: £299) resulting in a surplus of £12,933 (2022: £3,038). Costs for running events amounted to £1,001, missionary support costs were £450 and the remainder of costs mostly relate to governance and running costs. The balance of unrestricted funds at the 31 August 2023 was £15,971 (2022: £3,038).

As mentioned above, the charity has a full-time serving missionary. The trustees took the decision to support our missionary financial from unrestricted funds, but during the year the charity also started to receive financial support from individuals and our missionary's home church specifically for providing them with financial support. These restricted funds amount to £4,136 in the year all of which was payable to our missionary in the year. The balance of unrestricted funds at the year end was therefore £nil.

SIGHT LOSS MINISTRIES LIMITED Trustees' Annual Report (including Directors' Report) For the year ended 31 August 2023

Reserves

The trustees assess the level of reserves on a continual basis to ensure that they are able to meet any commitments that could easily arise.

Going Concern

The trustees are of the opinion that the Charity has sufficient reserves to continue as a going concern for a period of at least twelve months from the date of signing the financial statements. As a result, they believe that it is appropriate to prepare the financial statements on the going concern basis.

Recruitment and appointment of the trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association unless otherwise determined by the company in General Meeting the number of trustees shall not be less than three and is not subject to any maximum. Trustees are elected to serve only until the next Annual General Meeting, at which they shall then be eligible for re-election.

Governing Document and Constitution of the Charity

The Charity is governed by the Memorandum and Articles of Association dated 31 August 2021.

Public benefit statement

The public benefit requirement is defined in the Charities Act (Northern Ireland) 2008 and states that purposes must be for the public benefit to be charitable. The trustees confirm that they have complied with the duty to have regard to the guidance issued by the Charity Commission for Northern Ireland under section 4(b) of the Charities Act (the public benefit requirement statutory guidance). The trustees are confident that the activities have helped to achieve the Charity’s purposes and provide a benefit to the beneficiaries. Feedback received from those engaging with our services and activities confirms that this is the case. Examples include people:

finding the teaching from God’s word at the events to be a source of comfort and inspiraIon;
●believing that the spiritual aspects of the events have helped them to feel more connected in their relationship with Jesus;
having an improved sense of belonging;
experiencing an improvement in their mental health and sense of wellbeing;
feeling less isolated and experiencing a deeper sense of community;

l b h h l bl f l h h l

SIGHT LOSS MINISTRIES LIMITED Trustees' Annual Report (including Directors' Report) For the year ended 31 August 2023

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also directors of Sight Loss Ministries Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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 trustees are responsible for keeping proper accounting records that 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charitable company and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 5 February 2024 and signed on their behalf by:

........................................... ........................................... Mr E. Wilkinson Mr J. Wilson Trustee Trustee

Independent examiner’s report to the charity trustees of Sight Loss Ministries Limited For the year ended 31 August 2023

I report on the accounts of the Charity for the year ended 31 August 2023, which are set out on pages 9 to 15.

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 procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act;
state whether particular matters have come to my attention.

Basis of independent examiner’s report

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 included 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.

........................................... Samantha Martin FCA Martin Bookkeeping and Accountancy Services

5 Magheralave Manor Lisburn BT28 3EN

7 February 2024

SIGHT LOSS MINISTRIES LIMITED Statement of Financial Activities including Income and Expenditure Account For the year ended 31 August 2023

Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activites Investment income Other income Total income Expenditure on: Raising funds 5 Charitable activities: Fundraising costs 6 Missionary support Running costs 7 Governance costs 8 Total expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward 14 Total funds carried forward 14	Unrestricted Restricted Total Total funds funds 2023 2022 £ £ £ £ 5,207 4,136 9,343 3,337 9,786 - 9,786 - - - - - - - - - 5 - 5 -
	14,998 4,136 19,134 3,337
	1,001 - 1,001 70 21 4 25 2 450 4,132 4,582 - 235 - 235 27 358 - 358 200
	2,065 4,136 6,201 299
	12,933 - 12,933 3,038 - - - -
	12,933 - 12,933 3,038 3,038 - 3,038 -
	15,971 - 15,971 3,038

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SIGHT LOSS MINISTRIES LIMITED Balance Sheet For the year ended 31 August 2023

Notes Fixed assets Tangible assets Total fixed assets Current assets Debtors 9 Cash at bank and in hand Total current assets Liabilities Creditors: Amounts falling due 10 within one year Net current assets Total net assets The funds of the Charity: Unrestricted income funds 13 Restricted income funds 13 Total charity funds	2023 £ - - 567 16,864 17,431 1,460 15,971 15,971 15,971 - 15,971	2022 £ -
		-
		13 3,225
		3,238
		200
		3,038

		3,038
		3,038 -
		3,038

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006 for the year ended 31 August 2023. No member has deposited a notice, pursuant to section 476, requiring an audit of these accounts.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The accounts have been prepared the financial statements in accordance with provisions applicable to companies subject to the small companies' regime.

The notes 1 to 15 form part of these financial statements.

Approved by the trustees on 5 February 2024 and signed on their behalf by:

...........................................

Mr J. Wilson Trustee

SIGHT LOSS MINISTRIES LIMITED Notes to the Financial Statements For the year ended 31 August 2023

1 Accounting policies

1.1 Charity information

Sight Loss Ministries Limited is a public benefit entity and a private company limited by guarantee registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 7 Holstein Lodge, Lisburn, Co. Antrim, BT28 2QB.

The principal accounting policies that have been adopted consistently throughout the year and the prior year are summarised below.

1.2 Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the Charity is responsible in law.

Sight Loss Ministries Limited meets the definition of a public benefit entity under FRS 102.

1.3 Fund accounting

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds are primarily from the receipt of donations and charitable activities.

Restricted income funds are funds which are to be used in accordance with specific restrictions imposed by the donor. The Charity's restricted funds relate to donations received specifically for missionary support. There were no restricted funds in the prior year.

1.4 Income recognition

All income is recognised once the Charity has entitlement to the income, it is virtually certain that the income will be received and the amount of income receivable can be measured reliably.

Where income received has related expenditure (as with fundraising income) the income and related expenditure are reported gross in the Statement of Financial Activities.

Donation and legacies

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount.

Tax reclaims on donations and gifts

Income from Gift Aid (included under Donations and legacies) is included in the Statement of Financial Activities at the same time as the donation or gift to which they relate.

SIGHT LOSS MINISTRIES LIMITED Notes to the Financial Statements For the year ended 31 August 2023

1 Accounting policies (continued)

1.4 Income recognition (continued)

Charitable activities

Grants received for specified purposes for the furtherance of the Charity's objectives are recorded as income from charitable activities and regarded as restricted.

Investments

Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the Charity.

Donated services and facilities

These are only included in income (with the equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the Charity of the service or facility received.

Volunteer help

The value of any voluntary help received is not included in the financial statements but is described in the trustees' annual report.

1.5 Expenditure and liabilities recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

1.6 Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.7 Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

2 Employees

There were no employees during the year.

SIGHT LOSS MINISTRIES LIMITED Notes to the Financial Statements For the year ended 31 August 2023

3 Donations and legacies

Donations - general Donations - missionary Gift Aid on donations Event offerings Fundraising and sponsorship Gift Aid on fundraising and sponsorship	Unrestricted Restricted 2023 2022 £ £ £ £ 2,040 - 2,040 362 - 4,093 4,093 - 317 43 360 - 335 - 335 465 2,466 - 2,466 2,510 49 - 49 -
	5,207 4,136 9,343 3,337

4 Income from charitable activities

Event meals contributions Income grants	Unrestricted Restricted 2023 2022 £ £ £ £ 786 - 786 - 9,000 - 9,000 -
	9,786 - 9,786 -

5 Expenditure on raising funds

Fundraising and events Payment processing fees & subscription	Unrestricted Restricted 2023 2022 £ £ £ £ 970 - 970 70 31 - 31 -
	1,001 - 1,001 70

6 Fundraising costs

Fundraising costs
Donations expenses	Unrestricted Restricted 2023 2022 £ £ £ £ 21 4 25 2
	21 4 25 2

SIGHT LOSS MINISTRIES LIMITED Notes to the Financial Statements For the year ended 31 August 2023

7 Running costs

Running costs
Repairs, maintenance & equipment Website costs Insurance Office expenses	Unrestricted Restricted 2023 2022 £ £ £ £ 70 - 70 - 30 - 30 - 106 - 106 - 29 - 29 27
	235 - 235 27

8 Governance costs

Governance costs
Independent Examiner's fees Training Other professional fees	Unrestricted Restricted 2023 2022 £ £ £ £ 300 - 300 200 12 - 12 - 46 - 46 -
	358 - 358 200

9 Debtors

Debtors
Prepayments Other debtors	2023 2022 £ £ 158 13 409 -
	567 13

10 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals and deferred income Other creditors	2023 2022 £ £ 343 200 1,117 -
	1,460 200

SIGHT LOSS MINISTRIES LIMITED Notes to the Financial Statements For the year ended 31 August 2023

11 Staff costs and employee benefits

There were no employees who received total employee benefits (excluding employer pension costs) in excess of £60,000.

The key management personnel of the Charity comprise the trustees (also the directors for the purposes of company law) and the Company Secretary. The total employee benefits of the key management personnel of the Charity were nil.

12 Trustees' expenses and remuneration

There were no trustees who received remuneration or expenses during the year.

13 Related party transactions

Please refer to note 12 for transactions with trustees during the year. There were no other related party transactions.

14 Analysis of movement in charitable funds

Unrestricted income funds Restricted income funds	Balance at Balance at 01/09/2022 Income Expenditure 31/08/2023 £ £ £ £ 3,038 14,998 (2,065) 15,971 - 4,136 (4,136) -
	3,038 19,134 (6,201) 15,971

Details of each fund can be found at note 1.3.

15 Analysis of net assets between funds

Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) Creditors of more than one year	Unrestricted Restricted funds funds Total £ £ £ - - - 15,790 1,074 16,864 181 (1,074) (893) - - -
	15,971 - 15,971