Download 2014 Accs – word version - The Scottish Council on Visual Impairment

Company registration number: SC389560
Charity registration number: SC002185
The Scottish Council on Visual Impairment
(A company limited by guarantee)
Annual Report and Financial Statements
For the Year Ended 31 March 2014
Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN
The Scottish Council for Visual Impairment
Contents
Reference and administrative details
Trustees' Report
Trustees' responsibilities in relation to the financial statements
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
1
2 to 5
6
7 to 8
9
10 to 11
12 to 18
The Scottish Council for Visual Impairment
Reference and Administrative Details
Charity name
The Scottish Council on Visual Impairment
Charity number
SC002185
Company number
SC389560
Principal office
The Turrets
Mansionhouse Road
Camelon
FALKIRK
FK1 4PS
Trustees
Mr Richard Hellewell, President
Ms Ruth Dorman, Vice President
Mr James Adams
Mr Graham Findlay
Mr Bob Ironside
Mr John Keenan (Resigned 17 June 2014)
Mrs Fiona Sandford
Mr Murray Cochrane
Mrs Maria Dick
Secretary
Dr Colin Howie
Investment Advisor
Smith & Williamson
206 St. Vincent Street
GLASGOW
G2 5SG
Independent examiner
Alexander J Fyfe, M.A.A.T., C.A., DChA.
Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN
Page 1
The Scottish Council for Visual Impairment
Trustees' Report
The Trustees present their Report and Accounts for the year ended 31
March 2014.
The financial statements have been prepared in accordance with the
accounting policies set out in note 1 to the financial statements and comply
with the Charity's Memorandum and Articles of Association, Companies Act
2006 and Statement of Recommended Practice, "Accounting and Reporting
by Charities", issued in March 2005.
The Scottish Council on Visual Impairment (SCOVI) is a company limited by
guarantee of its members. It was formed in 2010 and became active in 2011
when it took over the assets, liabilities and engagements of the Scottish
National Federation for the Welfare of the Blind (SNFWB).
Governance and management
The Memorandum of Association states the objects and powers of the
charitable company and it is governed under its Articles of Association.
The directors of the company are its charity trustees for the purposes of
charity law and referred to as trustees throughout this report. The trustees
who served during the year were:
Mr Richard Hellewell
Mr James Adams
Ms Ruth Dorman
Mr Graham Findlay
Mr Bob Ironside
Mrs Fiona Sandford
Mr John Keenan
Mr Murray Cochrane, appointed 02 August, 2013
Mrs Maria Dick, appointed 25 October, 2013
The trustees are nominated and elected by members at the Annual General
Meeting. At each AGM one third of their number must stand down but are
eligible for re-election up to a maximum of nine years. All trustees, or the
member organisations they represent, give their time voluntarily and the
trustees receive no personal benefit from the charity.
Page 2
The Scottish Council for Visual Impairment
Trustees' Report
Details of the charity
Aims and objectives
The charity’s objects are to promote the benefit of blind and partially sighted
persons in Scotland and to advance the education of blind and partially
sighted persons in Scotland. Our mission is for blind and partially-sighted
people throughout Scotland to lead independent and included lives.
Our purpose is to raise awareness of how blind and partially-sighted people
are discriminated against; and to work with our member organisations, which
encompass local and national charities and local authorities across Scotland
for positive change.
We do this by:
 Supporting the work of our member organisations.
 Organising and facilitating regular meetings and conferences which
offer informative training and educative opportunities for member
organisations.
 Liaising with and informing relevant external bodies.
 Endorsing and/or supporting relevant campaigns.
 Promoting, supporting and/or assisting relevant research.
 Recruiting new members.
 Lobbying and consulting with government on relevant issues.
Activities and achievements during the year
The Scottish Council on Visual Impairment annual conference was in Stirling
in June 2013. Throughout the year regular Member’s Forum meetings have
taken place with presentations being given by:
 Dominic Everett (RNIB) on Visual Impairment Network Children &
Young People (VINCYP);
 Colette Cummins-Smith (RBIB) on Welfare Rights Reform Networking
Report;
 Angela Bonomy (Scottish Government) on a summary of progress on
the Sensory Impairment Strategy;
 Andrew Strong (the Alliance) on the topic of Health and Social Care in
Scotland – Integration or Transformation?;
 Catriona Burness (RNIB) on Charities, devolution and the Scottish
Independence referendum;
 Sally Dyson (SCVO) on the SCVO digital Participation Programme.
Page 3
The Scottish Council for Visual Impairment
Trustees' Report
During the previous year, SCOVI received a grant of £9,500 from the Big
Lottery Fund to enable research to be carried out to inform a renewal of its
strategy. This examined the needs of people with a visual impairment in
Scotland in the 21st century, determined what was already being contributed
by governmental and voluntary organisations, and observed effective ways
in which umbrella group and advocacy group activities were conducted in
other disability sub-sectors (see “Future Plans” below). The researcher for
this was appointed in February 2013, the project cost £13,320 in total and
was completed in November 2013.
Review of financial position
Income for the year was £13,380.
Resources expended totalled £28,854. Of this, £9,500 was the Big Lottery
fund grant, referred to above, which was restricted as to its purpose.
The value of the organisation’s investments rose slightly in the year by
£6,590. The net difference between additions and disposals was £13,630
of which £10,000 was a transfer to the current account. The overall result
was a reduction in investment value of £7,040.
Future plans
The Trustees renewed SCOVI’s strategy in 2013. The first step was the
research project referred to above. Informed by this, in the summer of 2014
SCOVI has recruited a Chief Executive as a means of expanding our work
and influence and that of our member organisations, effective ways of
informing policy makers authoritatively about the specific needs of those with
a visual impairment, and new funding streams to support these.
Investment policy
The Trustees aim to hold enough resources for the charity to carry out its
present and future activities effectively and maintain liquid assets at a level
to cover one year’s expenditure. In considering the charity’s investment
portfolio, risk is assessed as “moderate”. 20% of the portfolio will be held in
cash or fixed interest stocks with the remainder being invested in collective
investment schemes, including but not limited to, unit trusts, investment
trusts, open-ended investment companies or common investment funds for
charities, with a maximum of 10% in any one fund.
Page 4
The Scottish Council for Visual Impairment
Trustees' Report
In order to spread risk, exposure is global with a minimum allocation of 30%
of equity assets in the UK. The Trustees take regular advice from an
investment manager and all investments are held by a regulated nominee
company. Any investment operation is non-discretionary.
The Trustees have introduced a policy of ethical investment, within the
existing strategy. The process of transition to this new policy was completed
in October 2013. Under the policy, SCOVI will not invest either directly or
through pooled funds, investment trusts, or the like, in companies that
engage in the manufacture or trading of arms, tobacco nor in those which
don’t recognise human rights and don't have non-exploitative labour policies.
Risk policy
The Trustees have assessed the major risks to which the charity is exposed
and are satisfied that systems to mitigate exposure to the major risks are
now in place and will be reviewed regularly.
Reserves policy
The reserves of the charity are wholly unrestricted funds. The appointment
of a Chief Executive will be funded from reserves for up to two years. Due
to the uncertainty at this time of maintaining the organisation’s income the
Trustees feel that reserves should not be depleted beyond that commitment.
Small companies provisions
This report has been prepared in accordance with the small companies
regime under the Companies Act 2006.
Approved by the Board on 24 October 2014 and signed on its behalf by:
……………………….
Mr Richard Hellewell
Trustee
Page 5
The Scottish Council for Visual Impairment
Trustees' Responsibilities in relation to the Financial Statements
The trustees (who are also directors of The Scottish Council for Visual
Impairment for the purposes of company law) are responsible for preparing
the Trustees' Annual Report and the financial statements in accordance with
applicable law and the United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).
Company law 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
charitable company and of the incoming resources and application of
resources, including income and expenditure, of the charitable company 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 in the Charities SORP;
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 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.
Page 6
Independent Examiner's Report to the Trustees of
The Scottish Council for Visual Impairment
I report on the accounts of the charity for the year ended 31 March 2014,
which are set out on pages 9 to 18.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of
company law) are responsible for the preparation of the accounts in
accordance with the terms of the Charities and Trustee Investment
(Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006
(as amended). The trustees consider that the audit requirement of
Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply.
It is my responsibility to examine the accounts as required under section
44(1) (c) of the 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 Regulation 11 of the
2006 Accounts Regulations. 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 you as
trustees concerning any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit and consequently
I do not express an audit opinion on the view given by the accounts.
Page 7
Independent examiner's statement
In the course of my examination, no matter has come to my attention:
(1)
-
-
which gives me reasonable cause to believe that in any material
respect the requirements:
to keep accounting records in accordance with Section 44 (1)(a)
of the 2005 Act and Regulation 4 of the 2006 Accounts
Regulations, and
to prepare accounts which accord with the accounting records
and comply with the Regulation 8 of the 2006 Accounts
Regulations
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to
enable a proper understanding of the accounts to be reached.
.................................................
Alexander J Fyfe, M.A.A.T., C.A., DChA.
Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN
Page 8
25 October 2014
The Scottish Council for Visual Impairment
Statement of Financial Activities (including Income and Expenditure
Account and Statement of Total Recognised Gains and Losses)
For the Year Ended 31 March 2014
Note
Incoming resources
Incoming resources from generated funds
Voluntary income
Investment income
Incoming resources from charitable activities
Total incoming resources
Total
Funds
2014
£
Total
Funds
2013
£
2
3
4
5,046
8,334
13,380
9,500
7,044
8,894
25,438
5
5
28,584
270
28,854
15,558
490
16,048
(15,474)
9,390
4,380
25,036
Net movements in funds
(11,094)
34,426
Reconciliation of funds
Total funds brought forward
Total funds carried forward
227,841
216,747
193,415
227,841
Resources expended
Charitable activities
Governance costs
Total resources expended
Net (expenditure)/income before other
recognised gains and losses
Other recognised gains/losses
Gains on investment assets
The notes on pages 12 to 18 form an integral part of these financial
statements.
Page 9
The Scottish Council for Visual Impairment
(Registration number: SC389560)
Balance Sheet as at 31 March 2014
2014
Note
Fixed assets
Investments
Current assets
Debtors
Cash at bank and in hand
Creditors: Amounts
falling due within one
year
£
9
2013
£
£
203,904
£
203,904
10
13,891
13,891
1,630
18,642
20,272
11
(1,048)
(3,375)
12,843
216,747
16,897
227,841
The funds of the charity:
Unrestricted funds
Unrestricted income funds
216,747
216,747
Total charity funds
216,747
216,747
Net current assets
Net assets
The notes on pages 12 to 18 form an integral part of these financial
statements.
Page 10
The Scottish Council for Visual Impairment
(Registration number: SC389560)
Balance Sheet as at 31 March 2014
For the financial year ended 31 March 2014, the charity was entitled to
exemption from audit under section 477 of the Companies Act 2006 relating
to small companies, although an audit has been carried out under the
Charities and Trustee Investment (Scotland) Act 2005 and the Charities
Accounts (Scotland) Regulations 2006.
The members have not required the charity to obtain an audit of its accounts
for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the
requirements of the Act with respect to accounting records and the
preparation of accounts.
These accounts have been prepared in accordance with the provisions
applicable to companies subject to the small companies regime and with the
Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the Board on 24 October 2014 and signed on its behalf by:
........................................
Mr Richard Hellewell
Trustee
The notes on pages 12 to 18 form an integral part of these financial
statements.
Page 11
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
1
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost
convention, as modified by the revaluation of certain fixed assets, and
in accordance with the Statement of Recommended Practice
'Accounting and Reporting by Charities (SORP 2005)', issued in March
2005, the Financial Reporting Standard for Smaller Entities (effective
April 2008) and the Companies Act 2006.
Fund accounting policy
Unrestricted income funds are general funds that are available for use
at the trustees' discretion in furtherance of the objectives of the charity.
Incoming resources
Grants that provide core funding or are of a general nature are
recognised where there is entitlement, certainty of receipt and the
amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as
earned (as the related goods or services are provided) under contract.
Resources expended
Liabilities are recognised as soon as there is a legal or constructive
obligation committing the charity to the expenditure. All expenditure is
accounted for on an accruals basis and has been classified under
headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity
in the delivery of its activities and services for its beneficiaries. It
includes both costs that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Grants payable are recognised in the accounts when a commitment
has been made and there are no conditions to be met relating to the
grant which remain in the control of the charity.
Page 12
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
Governance costs
Governance costs include costs of the preparation and examination of
the statutory accounts, the costs of trustee meetings and the cost of
any legal advice to trustees on governance or constitutional matters.
Support costs
Support costs include central functions and have been allocated to
activity cost categories on a basis consistent with the use of resources,
for example, allocating property costs by floor areas, or per capita,
staff costs by the time spent and other costs by their usage.
Investments
Fixed asset investments are included at market value at the balance
sheet date.
Realised gains and losses on investments are calculated as the
difference between sales proceeds and their market value at the start
of the year, or their subsequent cost, and are charged or credited to
the statement of the financial activities in the period of disposal.
Unrealised gains and losses represent the movement in market values
during the year and are credited or charged to the statement of
financial activities based on the market value at the year end.
Page 13
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
2
Voluntary income
Total Funds
2014
£
Total Funds
2013
£
-
9,500
Grants
Big Lottery
This grant contributed towards the cost of a consultancy on the
future strategy of SCOVI carried out in the year ended 31st March
2014, the costs of which are shown in Note 5.
3 Investment income
Interest & dividends
Total Funds
2014
£
Total Funds
2013
£
5,046
7,044
4 Incoming resources from charitable activities
Total Funds Total Funds
2014
2013
£
£
Charitable activities
Conference receipts
2,490
3,900
Affiliation fees
5,844
4,994
8,334
8,894
Page 14
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
5 Total resources expended
Charitable
activities
£
Activities undertaken directly
Conference payments
Training & resources
Consultants costs - see below
Support costs
Employment costs
Office expenses
Independent examiner
Total
Analysis of consultants costs
Sector familiarisation - travel
Study, research & report
Report production
Governance
£
2,547
130
13,300
15,977
- 2,547
130
- 13,300
- 15,977
10,837
1,770
12,607
- 10,837
- 1,770
270
270
270 12,877
28,584
270 28,854
2,000
9,800
1,500
13,300
6 Trustees' remuneration and expenses
None of the Trustees (or any person connected with them) received
any remuneration during the year and no members of the Executive
Committee received travel expenses for attending sub-committee
meetings (2013: Nil).
Page 15
Total
£
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
7 Employees' remuneration
The aggregate payroll costs were as follows:
2014
£
Wages & salaries
10,837
2013
£
9,625
No employee received emoluments of more than £60,000 during the year
(2013: No.0)
8 Taxation
The company is a registered charity and is, therefore, exempt from taxation.
9 Investments held as fixed assets
Listed
investments
£
Market value
As at 1 April 2013
Revaluation
Additions
Disposals
As at 31 March 2014
210,944
6,593
150,251
(163,884)
203,904
Net book value
As at 31 March 2014
203,904
As at 31 March 2013
210,944
All investment assets were held in the UK
Listed investments
The historical cost of these investments was £190,629 (2013: £162,468)
Page 16
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
10 Debtors
Prepayments and accrued income
Total Funds
2014
£
Total Funds
2013
£
-
1,630
Total Funds
2014
£
Total Funds
2013
£
1,048
3,375
11 Creditors
Accruals and deferred income
12 Members' liability
The charity is a private company limited by guarantee and consequently
does not have share capital. Each of the members is liable to contribute
an amount not exceeding £1 towards the assets of the charity in the
event of liquidation
13 Related parties
Controlling entity
The charity is controlled by the trustees, who are directors of the company.
All represent different bodies working in support of people with a visual
impairment in Scotland.
Page 17
The Scottish Council for Visual Impairment
Notes to the Financial Statements for the Year Ended 31 March 2014
……. continued
14 Analysis of funds
At
1/4/13
General funds
Unrestricted fund
227,841
Incoming
Resources
Resources
Expended
13,380
(28,854)
Other
gains/
losses
At
31/3/14
4,380
216,747
Total
2014
£
203,904
13,891
(1,048)
216,747
Total
2013
£
210,944
20,272
(3,375)
227,841
15 Net assets by fund
Investments
Current assets
Creditors: amounts falling due within one year
Net assets
Page 18