**REGISTERED COMPANY NUMBER: SC041334** 

Report of the Trustees and Unaudited Financial Statements for the Year Ended 28 February 2023 for Sight Aid International 



Sight Aid International 

Contents of the Financial Statements for the Year Ended 28 February 2023 

||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 to 7|
|Detailed Statement of Financial Activities|8|





Sight Aid International 

## Report of the Trustees 

for the Year Ended 28 February 2023 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. 2 trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number SC041334** 

(Scotland) 

## **Registered office** 


## **Independent Examiner** 

FP Business Services Ltd 

**Ardoch Kilbryde Crescent Dunblane FK15 9AZ** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is governed by its constitution which established the objects and powers of the charity. 

## **Recruitment and appointment of new trustees** 

Under the requirements of the constitution a person shall not be eligible for appointment as a trustee unless they are a member of the charity. At each annual general meeting, the members may elect any member to be a trustee. The trustees may also, at any time, appoint any member to be a trustee. At each annual general meeting, all of the trustees shall retire from office but shall be eligible for re-election. 

## **Risk management** 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

The charity's objects are: 

(a) The advancement of health and the relief of those in need through the provision of free vision examinations and glasses to people suffering financial hardship in areas of deprivation internationally. 

(b) To advance education of the public by raising awareness of the dangers and the impact of refractive errors and the socio-economic toll it takes on societies affected as well as the importance of proper use and care of spectacles. 

(c) To advance education of young people by forging international school connections to encourage cross cultural relations and also to educate them on the importance of corrective lenses and reduce the stigmatization of their peers. 

(d) Educate people on the ways in which refractive errors affect their sight and could eventually lead to blindness as well as causes of preventable vision and what can be done about it. 

The charity had not been active during last financial year due to lack of sponsorship however it has become active again and the main activities undertaken are: 

(a) In Scotland we will offer tours and presentations to local schools and church/youth groups on the importance of eye health and the need for corrective spectacles. We will also provide a tour of the spectacle manufacturing lab. demonstrating how spectacles are produced. 

(b) In Kenya and Malawi we will offer free eye tests and free prescription spectacles, if required, to those of low or no income. We will also have some doctors who are willing to donate their time to offer a free health check 

Page 1 



Sight Aid International 

## Report of the Trustees 

for the Year Ended 28 February 2023 

## **FINANCIAL REVIEW** 

During the year the charity lost it's largest sponsorship and as a result has not carried out any activities. The Board decided that the charity should remain dormant for the foreseeable future until a time where the Trustees can secure funding and are hopeful that they will be in a position at this stage to add audiology to their projects. 

Approved by order of the board of trustees on 20/11//2023 and signed on its behalf by: 

Trustee 

Page 2 



2 

Sight Aid International 

## Statement of Financial Activities 

for the Year Ended 28 February 2022 

|||||**28.2.23**|28.2.22|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|Total|
|||**fund**|**fund**|**funds**|funds|
||Notes|<br>**£**|**£**|**£**|£|
|**INCOMING RESOURCES**||||||
|**Incoming resources from generated funds**||||||
|Voluntary income||**64700**|**-**|**64700**|2034|
|Activities for generating funds|2|**-**|**-**|**-**|-|
|**Total incoming resources**||**64700**|**-**|**64700**|-|
|**RESOURCES EXPENDED**||||||
|**Costs of generating funds**||||||
|Costs of generating voluntary income||**9353**|**-**|**9353**|1134|
|**NET INCOMING/(OUTGOING)**||||||
|**RESOURCES**||**-**|**-**||-|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||**2424**|**-**||2424|
|**TOTAL FUNDS CARRIED FORWARD**||**2424**|**-**|**2424**|2424|



The notes form part of these financial statements 

Page 3 



Sight Aid International 

## Balance Sheet 

## At 28 February 2023 

||||||**28.2.23**|28.2.22|
|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**||**Total**|Total|
|||**fund**|**fund**||**funds**|funds|
||Notes|<br>**£**|**£**||**£**|£|
|**FIXED ASSETS**|||||||
|Tangible assets|5|**715**||**-**|**715**|1,431|
|**CURRENT ASSETS**|||||||
|Cash at bank||**56340**||**-**|**56340**|993|
|**NET CURRENT ASSETS**||**57055**||**-**|**57055**|2424|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||**57055**||**-**|**57055**|2424|
|**NET ASSETS**||**57055**||**-**|**57055**|2,524|
|**FUNDS**|6||||||
|Unrestricted funds|||||**57055**|2,524|
|Restricted funds|||||**-**|-|
|**TOTAL FUNDS**|||||**57055**|2,524|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023. 

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006. 

## The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015). 

The financial statements were approved by the Board of Trustees on 20[th] November 2023 and were signed on its behalf by: 


-Trustee 

The notes form part of these financial statements 

Page 4 



Sight Aid International 

Notes to the Financial Statements for the Year Ended 28 February 2023 

## **1. ACCOUNTING POLICIES** 

## **Accounting convention** 

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. 

## **Incoming resources** 

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

## **Resources expended** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2. ACTIVITIES FOR GENERATING FUNDS** 

## **3.** 

||**28.2.23**|||28.2.22|
|---|---|---|---|---|
||**£**|||£|
|Fundraising events||**-**||-|
|**NET INCOMING/(OUTGOING) RESOURCES**|||||
|Net resources are stated after charging/(crediting):|||||
||**28.2.23**|||28.2.22|
||**£**|||£|
|Depreciation - owned assets|715||-||



## **4. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022. 

## **Trustees' expenses** 

Trustees' expenses paid   for the year ended   28   February 2023   were £7425 and zero for the year   ended 28 February 2022. 

Page 5 



1 

Sight Aid International 

Notes to the Financial Statements - continued for the Year Ended 28 February 2023 

## **5. TANGIBLE FIXED ASSETS** 

||||||**Plant and**|
|---|---|---|---|---|---|
||||||**machinery etc**|
||||||**£**|
|**COST**||||||
|At 1 March 2018 and 28 February 2023|||||**2,812**|
|**DEPRECIATION**||||||
|At 1 March 2018 and 28 February 2023|||||**2096**|
|**NET BOOK VALUE**||||||
|At 28 February 2023|||||**715**|
|At 28 February 2023|||||715|
|**MOVEMENT IN FUNDS**||||||
|||||**Net**||
||||**movement in**|||
||**At 1.3.23**||**funds**||**At 28.2.22**|
||**£**||**£**||**£**|
|**Unrestricted funds**||||||
|General fund|**57381**||**54957**||**2424**|
|**TOTAL FUNDS**|**57381**||**54957**||**2424**|
|Net movement in funds, included in the above are as follows:||||||
||**Incoming**||**Resources**||**Movement in**|
||**resources**||**expended**||**funds**|
||**£**||**£**||**£**|
|**Unrestricted funds**||||||
|General fund|**64700**||**9353**||**57381**|
|**)TOTAL FUNDS**|**67400**||**9353**||**57381**|
|**Comparatives for movement in funds**||||||
|||||**Net**||
||||**movement in**|||
||**At 1.3.22**||**funds**||**At 28.2.23**|
||**£**||**£**||**£**|
|**Unrestricted Funds**||||||
|General fund|**2424**||**54957**||<br>**57381**|
|**Restricted Funds**||||||
|Restricted||**-**||**-**|**-**|
|**TOTAL FUNDS**|**2424**||**54957**||<br>**57381**|



## **6. MOVEMENT IN FUNDS** 

Page 6 



1 

Sight Aid International 

Notes to the Financial Statements - continued 

## for the Year Ended 28 February 2023 

## **6. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

||**Incoming**|**Incoming**||**Resources**|Movement in|
|---|---|---|---|---|---|
||**resources**|||**expended**|funds|
|||**£**||**£**|£|
|**Unrestricted funds**||||||
|General fund|**64700**|||**9353**|**55347**|
|**Restricted funds**||||||
|Restricted||**-**||**-**|**-**|
|**TOTAL FUNDS**|**64700**|||**9353**|**55347**|
|A current year 12 months and prior year 12 months combined position is||as follows:||||
|||||**Net**||
||||**movement in**|||
||**At 1.3.22**|||**funds**|**At 28.2.23**|
|||**£**||**£**|**£**|
|**Unrestricted funds**||||||
|General fund||**2034**||**55347**|**57381**|
|**Restricted funds**||||||
|Restricted||**-**||**-**||
|**TOTAL FUNDS**||**2034**||**55347**|<br>**57381**|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||**Incoming**|**Resources**|**Movement in**|
|---|---|---|---|
||**resources**|**expended**|**funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|**66734**|**9353**|**57381**|
|**Restricted funds**||||
|Restricted|**-**|**-**|**-**|
|**TOTAL FUNDS**|**66734**|**9353**|**57381**|



Page 7 



Sight Aid International 

Detailed Statement of Financial Activities for the Year Ended 28 February 2023 

||**28.2.23**|28.2.22|
|---|---|---|
||**£**|£|
|**INCOMING RESOURCES**|||
|**Voluntary income**|||
|Donations|**64700**|2034|
|**Activities for generating funds**|||
|Fundraising events|**-**|-|
|**Total incoming resources**|**64700**|2034|
|**RESOURCES EXPENDED**|||
|**Costs of generating voluntary income**|||
|Sundries|**9353**|1134|
|No description|**-**|-|
|Depreciation of tangible fixed assets|**-**|-|
||**9353**|1134|
|**Total resources expended**|**9353**|1134|
|**Net income/(expenditure)**|**55374**|900|



This page does not form part of the statutory financial statements 

Page 8