Charity registration number 1107951
Company registration number 05250758 (England and Wales)
VISYON LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
VISYON LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A Brabban-Brown
Ms H Butters
Mr J G Clay
Mr A J Dean
Ms A Jagpal
Mr D Parkinson
Mr B K Brennan
Miss S A Conlon
Miss Lisa Cormack
(Appointed 20 September 2023)
Secretary
Miss T E Pass
Charity number
1107951
Company number
05250758
Registered office
Fellowship House
Park Road
Congleton
Cheshire
England
CW12 1DP
Auditor
Hammond McNulty LLP
Bank House
Market Square
Congleton
Cheshire
United Kingdom
CW12 1ET
VISYON LIMITED
CONTENTS
Page
Chairman's statement
1
Trustees report
2 - 9
Independent auditor's report
10 - 13
Statement of financial activities
14
Balance sheet
15
Statement of cash flows
16
Notes to the financial statements
17 - 29
VISYON LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

2024 is a significant year for Visyon as it is 30 years since the charity was formed in 1994. Looking back on our 2023/24 financial year we can be proud to be continuously developing and evolving our services that support children’s mental health whilst focusing on the fundamental needs of our community that were clear when Visyon was founded three decades ago.

 

We have continued to deliver our full range of services into the community including our counselling, mentoring, work with schools and engagement with families. Behind this consistency of service, it remains a challenge to sustain the charity's finances. Like all organisations we are challenged with rising and unexpected costs, we have had significant rises in utility costs and insurance costs. Although, over the last few years our overall financial position has fluctuated between a small surplus and a deficit, we manage this and maintain stability through judicious use of our reserves. It is a tight balancing act that needs continual focus.

 

This year saw us secure a new long-term contract with Cheshire East Council, this new Healthy Young Minds contract replaces the previous contract which expired in March and runs for at least the next 5 years. We are proud to have been successful in winning this contract based on our fantastic track record. The contract brings some adjustment to the scope of our work and some reduction in level of commissioned services but generally provides continuity and stability that is positive for the charity. My thanks to all of the team who worked so hard to go through the formal procurement process and were successful, especially thanks for the effort to submit our bid the day before the Christmas holidays!

As reported last year, we continue to see increasingly complex cases presenting. In the last year, we have had issues with inappropriate referrals to Visyon with young people being directed to Visyon when they need a higher level of intervention than we can offer. This places the young person at risk of not getting the right support when they need it most.

 

Once again, I express my personal thanks to the members of our board of Trustees who are volunteers and give their time to provide diligent governance of Visyon and make their skills and expertise available to support the Senior Leadership Team. In September last year, we were very pleased to have Lisa Cormack join the board, Lisa brings experience of marketing and work in the charity sector. In November, Sidra Ali, was co-opted onto the board bringing her experience working in the NHS as a doctor in paediatric emergency services. David Parkinson and Avari Jagpal will step down from the board at the end of September and I thank them both for their contributions to Visyon over a number of years and wish them well for the future; I’m sure they will continue to lend us their support!

 

Finally, can I thank everyone who contributes to Visyon: the staff, the leadership team, the volunteers, the fundraisers and those who share what we do with those who might need our help across the wider community. Visyon would not be what it is without your contributions. We look forward to continuing to build a community that supports the mental health and emotional wellbeing for children, young people and their families.

Mr A Brabban-Brown
Chairman
Date: 22 August 2024
VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 [governing document], the Companies Act 2006 and "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).

Objectives and activities

 

About Visyon

Visyon promotes and improves the emotional health and wellbeing of children and young people and their families through the provision of a range of services, including individual therapy, group work, mentoring, creative activities and support for parents and families. Visyon is based in Congleton, Cheshire and delivers services to children and young people in Cheshire. Visyon was established in 1994 by a group of volunteers whose experiences identified the need for a community based, flexible and easily accessible service for young people and families experiencing emotional distress and in need of support. In 2004 Visyon became a charitable company limited by guarantee.

 

The objects of the charity are:

The preservation and protection of good health and in particular good mental health of children, young people and adults.

The advancement of education of the public so as to increase their awareness of mental health and the associated issues and related problems.

To relieve the hardship, sickness and distress arising therefrom.

 

Visyon Descriptor

Visyon is a safe place you can come when you need help. We are really good at helping children and young people work out what is troubling them and what they can do about it. Whether you are confused, upset, worried, feeling hurt or angry about anything, there is somebody at Visyon who will listen and help you decide what you want to do next.

Social Impact

Visyon provides its services within the charitable objects for which it was established, these being the preservation and protection of good health and in particular good mental health of children, young people and adults, plus the advancement of education of the public in matters relating to mental health. These objects are addressed through the provision of a broad range of therapeutic activities to children, young people, their parents and families.

 

Visyon's activities are designed to achieve outcomes that are positive not only for the individual child or young person but also impact on families and the wider communities of Cheshire. The cost to society of supporting lifelong mental health challenges is significant and can be ameliorated by providing effective interventions for children and young people such as those offered by Visyon.

 

Visyon's services are free to the children, young people and families who access them. All services are paid for by grants, donations and fundraised income. The organisation accommodates the requirements of children and young people, by using community locations wherever there is a demand and where funding allows. Currently, the organisation is working in the geographic area of Cheshire East Council, with some services also available in areas of Cheshire West and Chester Council.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Achievements and performance
Significant activities and achievements against objectives

We continue to see an increase in demand for our services and a significant increase in the complexity of the challenges young people are presenting with, often at a younger age than we have previously witnessed.

 

In 2023 Visyon launched a new five year strategy and achieved the following progress:

 

Theme 1 - Building Resilience:

In 2023/24 Visyon continued to research interventions that have the biggest evidence of impact and value with children and young people, leading to the introduction of Boingboing, the Solihull Approach and upskilling our staff in latest practices such as ACEs and Trio of Vulnerability.

 

Theme 2 - Leading the Way in Local Thinking around Young People's Mental Health and Emotional Wellbeing:

We secured a five year contract with Cheshire East Healthy Young Minds, working with local voluntary sector providers to ensure our services are designed around local needs and truly embedded in the community we serve.

 

Theme 3 - Sustainability:

We upskilled our team in assessing, calculating and reducing our carbon footprint and enhance our recycling capability.

Visyon have successfully tendered for a new Healthy Young Minds contract with Cheshire East for the provision of services to young people, the contract is for 5+ years.

Significant factors

Visyon aims to use as much of its financial and other resources as possible for the purpose of meeting the charities objectives. All of the programmes and activities undertaken by the charity aim to support children and young people to improve and maintain their mental health. Our work with families and public awareness campaigns assist us to achieve greater awareness and understanding by the public of issues surrounding mental health and wellbeing and how these impact on children, young people and society.

 

All our services are provided free of charge to our beneficiaries, allowing for greater access to early assistance, advice and support. Across Cheshire East we aim to offer a range of interventions, choice of venue and opening hours that improves efficacy and accessibility irrespective of the individual circumstances of the beneficiary.

 

The voluntary sector experiences increasingly challenging times with more charities competing for less funding, reporting criteria becoming increasingly complex in some areas, and hard decisions to be made regarding which particular pot of money to vie for. Each financial year starts with an element of calculated uncertainty, and often focus has to be placed on bringing in funding for the current financial year, rather than looking forward to the next two - five years, focusing attention on longer term planning and sustainability. This is the situation that Visyon has been in for a number of years, but is something that the new strategy and leadership structure plan to address over the next two years.

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Fundraising practices

Visyon is very grateful to all the organisations and individuals who have supported the charity during the year through donations, fundraising activities, gifts-in-kind and employee volunteering.

2023/24 Gift In Kind donations equated to the value of £7,111.

2023/24 Events and Corporate volunteering equated to 172 hours.

We would like to thank the following for their support during 2023/24:

 

Grants:     

The National Lottery        

The Leatherseller’s Foundation    

Edward Gostling Foundation     

John Holford Charitable Trust    

Assura    

Cheshire Community Foundation

Garfield Weston

Trusthouse Foundation

Ann Rylands Small Donations Programme

 

Company Support:    

Boots Opticians, Congleton

Kanga Health            

East Cheshire Chamber         

The Original Factory Shop        

SPP Foundation            

Thermal Road Repairs        

Majestical            

George & Dragon, Holmes Chapel

Gladman

Bathgate Silica

West End Agri

Military Arms, Sandbach

The Rams Head, Congleton

Apconix

 

Community Support:    

Wellspring Methodist Church    

Decibella’s            

All who took part in WWYWD    

Sandbach Striders        

Kings School            

St Lawrence Church, Biddulph    

Congleton Lawn Tennis Club    

Wilmslow Running Festival and

our 2024 running team

Alsager Panto

Siddington Syndicate

Alsager Ladies Circle

Knutsford Lions Club

Congleton Santa Collection

Congleton Tangent

Co-op Local Community Fund

 

Individual Support:    

Richard Harrison            Family and friends of the late David Kenny

John Linley            Family and friends of the late Alison Bowen

Cllr Margaret Gartside    

Our new and committed Regular

Donors each making donations

every month

2023 Skydive Team    

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Investment performance

Investment Powers

The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity but no such investments are currently held.

Financial review

Financial Review and Results for the Year

The total income for the year ending 31 March 2024 was £750,570 (2023 - £997,301), the total expenditure was £840,929 (2023 - £928,225) and the net result for the year was £-90,359 (2023 - (£60,076). The net asset position at the year end was £368,913 (2023 - £459,272), of which £109,191 (2023 - £178,837) is unrestricted and £259,722 (2023 - £285,435) is restricted.

The main income for the year came from donations, grants and charitable activities as per notes 3,4 and 5 of the accounts which enables the charity to achieve their main objectives as detailed in the Trustee Report.

Reserves policy

The reserves are held in a low-risk account, with immediate access, attracting the best rates from the "High Street Institutions". Reserves are built up from balances of funds (restricted and/or unrestricted). The level at which the reserve fund is to be maintained is agreed between Visyon management and Trustees during annual budgeting based on a number of defined factors including an assessment of known risks. It may also include items of known but currently unquantifiable risk. The level of reserve fund should not normally exceed that required for three months operating.

Investment policy

Investment Policy

All amounts in the current account over £500 are transferred daily to an interest-bearing savings account. All investments by the charity will be in ethically acceptable funds to be agreed by the Board.

Grant-making Policy

Under normal circumstances, the charity does not make grants. There may be small grants made from specific projects for supporting clients. The funding body concerned will specify the conditions of the grant.

Structure, governance and management

The charity is a company limited by guarantee. The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

 

It is governed by the Memorandum and Articles of Association dated 5 October 2004 and amended on 25 March 2010. Visyon is registered with the Charity Commission and Companies House. Anyone over the age of 18 years can become a member of the charity. At 31 March 2024 there were 43 members.

 

The administration is carried out by the directors who together are known as the Board of Trustees. The Board of Trustees has delegated the day-to-day running of the organisation to the Chief Executive Office (Theresa Pass), who reports into the Board on a quarterly cycle.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A Brabban-Brown
Ms H Butters
Mr J G Clay
Mr A J Dean
Ms A Jagpal
Mr D Parkinson
Mr B K Brennan
Miss S A Conlon
Miss Lisa Cormack
(Appointed 20 September 2023)
VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

Organisational structure

Role of the Board of Trustees

The Board of Trustees is the governing body of the charity. The Board's duties are to:

- Take ultimate responsibility that the charity is run properly

- Ensure compliance - with the law & charitable objects

- Act with integrity

- Ensure that the charity is and stays solvent

- Use charity funds reasonably

- Avoid undue risk

- Ensure the charity is well run and efficient

- Consider getting external advice when needed, particularly if the Board/Trustees are in breach of duties

 

Sub-Group Structure

Three sub-groups have been appointed with delegated responsibility for scrutiny in three areas:

- Financial Sustainability

- Internal Governance

- Service Effectiveness

Each group is chaired by a Trustee and is attended by a further Trustee, the CEO and relevant members of the management team.

 

Structure of Board of Trustees

Board meetings are held quarterly.

 

Sub-groups meet on a monthly/bi-monthly basis and have delegated responsibilities as outlined in the sub-group Terms of Reference.

 

Attendance of trustees at meetings of the Board

Trustees are required to attend formal meetings regularly and not to miss more than three meetings in succession. During 2023/24 the Trustees attendance was as follows:

 

Trustee

Date of Meetings

 

22.05.2023

21.08.2023

20.11.2023

26.02.2024

Andrew Brabban-Brown

Yes

Yes

Yes

Yes

Adrian Dean

Yes

No

Yes

Yes

Avarni Jagpal

Yes

Yes

Yes

Yes

David Parkinson

Yes

Yes

Yes

Yes

Jonathan Clay

Yes

No

Yes

Yes

Helen Butters

Yes

Yes

Yes

Yes

Lisa Cormack

N/A

N/A

Yes

Yes

Barry Brennan

Yes

Yes

No

Yes

Sharon Conlon

No

Yes

Yes

Yes

 

President

The Board appointed Brian Davey as the new president of Visyon Limited on 14th September 2020, following the untimely death of Visyon's President, our founder, Elizabeth Pugh. in January 2020. Brian has been involved with Visyon from the beginning and previously served as Chair of the Board.

 

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
Induction and training of trustees

Recruitment, selection and training of the Board of Trustees

The Trustees are elected by the members, the number being decided at the Annual General Meeting. The Trustees have the power to co-opt up to 7 further Trustees. When co-opting Trustees, the Board has regard to the requirement for any specialist skills. Trustee application and induction processes have been established, through which training requirements are identified and addressed. In addition, training opportunities are taken up when offered by third parties.

 

The balance of Trustees' skills and experience has been reviewed on an ongoing basis during 2023-2024 and the Board is satisfied that it has an optimum broad range of skills. Trustees have experience that covers the following areas:

- Clincal expertise

- Child & adolescent mental health

- Healthcare management

- Business management

- Voluntary sector fundraising

- Health & Safety consultancy

- Finance

- Law

- Education

- Risk management

- Safeguarding

Other matters

Risk Management

The organisation has Strategic and Operational Risk Registers, a Business Continuity Plan and a Risk Management Policy. This ensures the following:

 

- Constant monitoring of the financial position and cash flow to ensure that the charity remains solvent. - Health and safety monitoring. This is carried out by the CEO and Health and Safety Officer, in conjunction with a nominated Trustee with health and safety expertise. - Risk assessment of new and ongoing activities, including new locations for project activities, with a view to the safeguarding of staff, volunteers and clients. - Management of the liabilities and reserves policies which are included in the charity's financial controls documentation.- Other specific areas of risk as may be identified by the Board.

 

Risks that have been mitigated this year have included:

- Impact of inappropriate referrals

- Ensuring financial procedures remain relevant and robust

- Ensuring safe and appropriate premises in Crewe

- Continuity of contract with Cheshire East

Staffing & Volunteers

Visyon is able to offer the level of service that it does due to the dedication and professionalism of its staff and volunteer team. At the end of March 2024, Visyon had 33 members of staff, 9 of which were employed on a full-time basis, with the other 24 working in part-time roles. Visyon has a team of volunteers who provide invaluable contributions to the work of the charity by carrying out a range of roles including trustees, therapists, administrators, fundraisers, and a handyman.

 

Declaration of interests

Trustees are required to declare interests that are relevant and material and declarations are requested at each meeting. A record is maintained of all relevant and material interests by the Company Secretary and this record is available on request. Staff are also required to inform the organisation where an outside commitment, e.g. membership of a school governing body, may potentially give rise to a conflict of interest.

 

 

 

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
Statement of Trustees responsibilities

The trustees, who are also the directors of Visyon Limited for the purpose of company law, 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).

 

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

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; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Hammond McNulty LLP be reappointed as auditor of the company will be put at a General Meeting.

VISYON LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
Administrative Information

Charity name: Visyon Limited

Working title: Visyon

Registered charity number: 1107951

Registered company number: 5250758

Company registered in England and Wales

Registered Company and operational address: Fellowship House, Park Road, Congleton, Cheshire. CW12 1DP

Board of Trustees

The following people served as Trustees during this year:

Andrew Brabban-Brown

Adrian Dean

Helen Butters

Jonathan Clay

Avarni Jagpal

David Parkinson

Barry Brennan

Sharon Conlon

Lisa Cormack

Sidra Ali - co-opted trustee on 13.11.2023

The Directors of the charitable company are Trustees for the purpose of charity law and are known collectively as the Board of Trustees

Company Secretary - Theresa Pass

Chief Executive Officer - Theresa Pass

Auditors - Hammond McNulty, Bank House, Market Square, Congleton, Cheshire. CW12 1ET

Bankers - NatWest Bank Plc, 46 High Street, Congleton, Cheshire CW12 1BE

 

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the Board of Trustees.

Mr A Brabban-Brown
22 August 2024
VISYON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VISYON LIMITED
- 10 -

Opinion

We have audited the financial statements of Visyon Limited (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements.

VISYON LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VISYON LIMITED
- 11 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-
certain disclosures of trustees' remuneration specified by law are not made; or
-

we have not received all the information and explanations we require for our audit; or

-

the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of Trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

VISYON LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VISYON LIMITED
- 12 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, and employment legislation.

 

We enquired of the directors, reviewed correspondence with HMRC and reviewed legal fees for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

 

We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.

 

The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas:

related party transactions, revenue recognition and management override.

 

We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.

 

We enquired of the directors about actual and potential litigation and claims.

 

We performed analytical procedures at the planning stage to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.

 

In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

 

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

VISYON LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VISYON LIMITED
- 13 -
Marie Ann Shenton FCCA (Senior Statutory Auditor)
for and on behalf of Hammond McNulty LLP
23 August 2024
Chartered Certified Accountants
Statutory Auditor
Bank House
Market Square
Congleton
Cheshire
United Kingdom
CW12 1ET
VISYON LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
132,281
-
132,281
113,802
14,521
128,323
Charitable activities
4
26,250
586,373
612,623
88,783
734,710
823,493
Other trading activities
5
12
-
12
3
1,670
1,673
Investments
6
5,654
-
5,654
2,364
-
2,364
Other income
7
-
-
-
3,530
37,918
41,448
Total income
164,197
586,373
750,570
208,482
788,819
997,301
Expenditure on:
Charitable activities
8
255,130
585,799
840,929
266,741
661,484
928,225
Total expenditure
255,130
585,799
840,929
266,741
661,484
928,225
Net income/(expenditure)
(90,933)
574
(90,359)
(58,259)
127,335
69,076
Transfers between funds
26,287
(26,287)
-
53,115
(53,115)
-
Net movement in funds
10
(64,646)
(25,713)
(90,359)
(5,144)
74,220
69,076
Reconciliation of funds:
Fund balances at 1 April 2023
173,837
285,435
459,272
178,981
211,215
390,196
Fund balances at 31 March 2024
109,191
259,722
368,913
173,837
285,435
459,272

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

VISYON LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 15 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
16,005
20,200
Current assets
Debtors
15
18,847
36,452
Cash at bank and in hand
401,148
499,022
419,995
535,474
Creditors: amounts falling due within one year
16
(67,087)
(96,402)
Net current assets
352,908
439,072
Net assets
368,913
459,272
The funds of the charity
Restricted funds
18
259,722
285,435
Unrestricted funds
109,191
173,837
Total Funds
368,913
459,272
The financial statements were approved by the trustees on 22 August 2024
Mr A Brabban-Brown
Company registration number 05250758 (England and Wales)
VISYON LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
23
(101,842)
(36,113)
Investing activities
Purchase of tangible fixed assets
(1,686)
(8,115)
Investment income received
5,654
2,364
Net cash generated from/(used in) investing activities
3,968
(5,751)
Net cash used in financing activities
-
-
Net decrease in cash and cash equivalents
(97,874)
(41,864)
Cash and cash equivalents at beginning of year
499,022
540,886
Cash and cash equivalents at end of year
401,148
499,022
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
1
Accounting policies
Charity information

Visyon Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Fellowship House, Park Road, Congleton, Cheshire, CW12 1DP, England.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific 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 to the financial statements.

1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

 

Income is only deferred when:

 

- The donor specifies that the grant or donation must only be used in future accounting period; or

- the donr has imposed conditions which must be met before the charity has unconditional entitlement.

 

Investment income is recognised on a receivable basis.

 

Income from charitable activities, which includes income received under contract or where entitlement to grant funding is subject to specific performance conditions, is recognised as earned (as the related goods or services provided). Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability.

 

 

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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 18 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliable. it is categorised under the following headings:

 

- Costs of raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds

- Expenditure on charitable activities consists of resources expended on all of its charitable work in order for it to meet its charitable objectives, which includes all costs relating to providing services to children, young people, and their families.

- Other expenditure represents those items not falling into the categories above.

 

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

 

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 19 -
1.9
Financial instruments

The 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 its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial 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 at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently 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 ordinary 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 at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and Estimation Uncertainty

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised 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 revision affects both current and future periods.

VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
75,113
-
75,113
67,302
-
67,302
Legacies receivable
-
-
-
16,500
-
16,500

Grants

55,000
-
55,000
30,000
12,591
42,591
Membership fees
2,168
-
2,168
-
1,930
1,930
132,281
-
132,281
113,802
14,521
128,323
Grants receivable for core activities
Garfield Weston Foundation
30,000
-
30,000
30,000
-
30,000
Edward Gostling
25,000
-
25,000
-
12,591
12,591
55,000
-
55,000
30,000
12,591
42,591
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Schools

Emotional health and wellbeing

-
45,323
45,323
-
86,918
86,918
NHS

Emotional health and wellbeing

-
377,704
377,704
-
480,475
480,475
BBC Children In Need

Emotional health and wellbeing

-
-
-
-
9,760
9,760
Big Lottery Fund

Emotional health and wellbeing

-
101,989
101,989
-
119,035
119,035
Cheshire Community Foundation

Emotional health and wellbeing

-
33,557
33,557
-
31,689
31,689
Other

Emotional health and wellbeing

26,250
27,800
54,050
88,783
6,833
95,616
26,250
586,373
612,623
88,783
734,710
823,493
5
Income from other trading activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Trading activity income: other
12
-
12
3
1,670
1,673
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
5,654
2,364
7
Other income
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£

Local authority income

-
-
-
3,530
37,918
41,448
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 23 -
8
Expenditure on charitable activities
Schools
NHS
Big Lottery Fund
Cheshire Community Foundation
Other
Total
Total
2024
2024
2024
2024
2024
2024
2023
£
£
£
£
£
£
£
Direct costs
Staff costs
85,125
287,604
79,920
30,003
20,249
502,901
569,442
Depreciation and impairment
582
4,500
797
-
-
5,879
5,496

Light, heat & water

2,669
3,600
7,269
-
191
13,729
5,456

Insurance

496
9,000
945
-
86
10,527
11,074

Telephone

954
5,256
3,823
459
125
10,617
9,837

Postage & stationery

1,112
1,205
315
23
64
2,719
3,227

Workshop facilitators

51
62
316
-
-
429
470

Counselling & supervision

(22)
4,955
992
540
40
6,505
6,747

Subcontract, recruitment & training

3,518
1,175
1,122
-
23
5,838
8,844

Networking & PR

268
-
-
-
-
268
1,241

Rent & room hire

1,239
9,548
1,013
-
416
12,216
11,894

Subscriptions

4,010
1,333
492
-
33
5,868
1,098

Travel & residential costs

1,176
4,344
326
562
150
6,558
12,057

Repairs & renewals

2,257
6,969
1,674
900
511
12,311
4,777

Software & related costs

4,429
4,600
1,633
34
277
10,973
14,378

Refreshments, cleaning and sundries

653
4,585
497
-
191
5,926
2,052
108,517
348,736
101,134
32,521
22,356
613,264
668,090
Share of support and governance costs (see note 9)
Support
5,353
27,629
46
-
184,661
217,689
240,287
Governance
-
1,500
-
-
8,476
9,976
19,848
113,870
377,865
101,180
32,521
215,493
840,929
928,225
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Expenditure on charitable activities
(Continued)
- 24 -
Analysis by fund
Unrestricted funds
68,547
-
-
-
186,583
255,130
266,741
Restricted funds
45,323
377,865
101,180
32,521
28,910
585,799
661,484
113,870
377,865
101,180
32,521
215,493
840,929
928,225
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
9
Support costs allocated to activities
2024
2023
£
£
Staff costs
216,488
248,863
Bank Charges
500
570
Online giving charges
701
778
Governance costs
9,976
9,924
227,665
260,135
Analysed between:
Schools
5,353
6,982
NHS
29,129
26,971
BBC Children In Need
-
23,436
Big Lottery Fund
46
9,501
Other
193,137
193,245
227,665
260,135
10
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
4,800
4,200
Depreciation of owned tangible fixed assets
5,879
5,496
11
Trustees

None of the trustees trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
42
44
Employment costs
2024
2023
£
£
Wages and salaries
675,017
767,112
Social security costs
31,649
38,359
Other pension costs
12,723
12,834
719,389
818,305
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12
Employees
(Continued)
- 26 -
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was £52,160 (£51,475 2023).

 

 

13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2023
59,627
4,704
1,417
24,482
90,230
Additions
-
350
-
1,336
1,686
At 31 March 2024
59,627
5,054
1,417
25,818
91,916
Depreciation and impairment
At 1 April 2023
54,662
1,670
1,097
12,603
70,032
Depreciation charged in the year
735
845
80
4,219
5,879
At 31 March 2024
55,397
2,515
1,177
16,822
75,911
Carrying amount
At 31 March 2024
4,230
2,539
240
8,996
16,005
At 31 March 2023
4,967
3,034
320
11,879
20,200
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,083
32,032
Other debtors
12,206
286
Prepayments and accrued income
5,558
4,134
18,847
36,452
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
16
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,778
9,804
Other creditors
8,071
12,623
Accruals and deferred income
56,238
73,975
67,087
96,402
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
12,723
12,834

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations, grants and other income held on trust subject to specific conditions by donors as to how they may be used.

 

The transfer between the restricted and unrestricted fund is due to the completion of restricted fund projects in the year whilst also ensuring the restricted funds balance at the year includes £250,000 to cover operating costs.

 

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
Assura
-
25,000
(26,110)
1,110
-
CCF
-
33,557
(32,521)
(1,036)
-
NHS
-
377,704
(377,865)
161
-
National Lottery
22,470
101,989
(101,180)
(23,279)
-
Schools
-
45,323
(45,323)
-
-
Trusthouse
-
2,800
(2,800)
-
-
Operating costs
250,000
-
-
-
250,000
Fixed Assets
12,965
-
-
(3,243)
9,722
285,435
586,373
(585,799)
(26,287)
259,722
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
211,215
788,819
(661,484)
(53,115)
285,435
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 28 -
19
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
General funds
173,837
164,197
(255,130)
26,287
109,191
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
General funds
178,981
208,482
(266,741)
53,115
173,837
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
6,283
9,722
16,005
Current assets/(liabilities)
102,908
250,000
352,908
109,191
259,722
368,913
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
7,235
12,965
20,200
Current assets/(liabilities)
166,602
272,470
439,072
173,837
285,435
459,272
VISYON LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 29 -
21
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
17,401
6,155
Between two and five years
48,604
-
66,005
6,155
22
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

 

£729.60 for First Aid Training with Ensure Safety & Training, a company of which A Dean is a director.

23
Cash generated from operations
2024
2023
£
£
(Deficit)/surpus for the year
(90,359)
69,076
Adjustments for:
Investment income recognised in statement of financial activities
(5,654)
(2,364)
Depreciation and impairment of tangible fixed assets
5,879
5,496
Movements in working capital:
Decrease/(increase) in debtors
17,605
(4,424)
(Decrease) in creditors
(29,315)
(103,897)
Cash absorbed by operations
(101,844)
(36,113)
24
Analysis of changes in net funds

The charity had no material debt during the year.

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