The trustees present their report and financial statements for the year ended 31 March 2025.
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, 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)
The charity's objects are to promote health, equality and independence of blind, partially sighted and other people suffering from disabilities and requiring assistance from trained guide dogs by
providing guide dogs for our class of beneficiaries
training and educating our class of beneficiaries in the use of such guide dogs and
providing such services facilities and activities for the benefit of our class of beneficiaries as the chairty shall from time to time deem fit.
The policies adopted in furtherance of these objects are listed in the notes to the accounts.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
We were disappointed to learn that the development of the Headingley site by Guide Dogs had been cancelled due to various planning restrictions with the site. The charity has therefore not made any further donations during the year.
We are currently considering further support for the developments of Guide Dog Hubs, particularly the Atherton location. Feasibility studies are currently being undertaken by Guide Dogs and the outcomes should be available by Autumn 2025.
Fundraising
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review.
Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.
The charity had income of £44,345 (2024 - £31,112 ) with expenditure amounting to £33,717 with a grant commitment withdrawn of £500,000 (2024 - £28,904 ) and gains of £44,345 (2024 - gains £1167,881) for the year, resulting in a net income of £554,712 at 31 March 2025, (2024 - £170,089 income).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Funds at 31 March 2025 stood at £2,040,943 (2024 - £1,486,231). The trustees consider this level of reserves in line with their reserves policy.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a company limited by guarantee incorporated on 8 February 2018, registration number 11194783 and registered as a charity on 15 January 2019 in England and Wales, registration number 1181580.
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:
The charity may by ordinary resolution:
appoint a person who is willing to act to be a director; and
determine the rotation in which any additional directors are to retire.
No person other than a director retiring by rotation may be appointed a director at any general meeting unless:
he or she is recommended for re-election by the directors; or
not less than fourteen nor more than thirty-five clear days before the date of the meeting, the charity is given a notice that:
is signed by a member entitled to vote at the meeting;
states the member's intention to propose the appointment of a person as a director;
contains the details that, if the person were to be appointed, the charity would have to file at Companies House; and
is signed by the person who is to be proposed to show his or her willingness to be appointed.
Trustees are appointed for their experience they can give to the charity and training is provided if needed.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The George W Walsh Seeing Eye Dog Foundation Limited (the charity) for the year ended 31 March 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 6 to 13 form part of these financial statements.
The George W Walsh Seeing Eye Dog Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Carlton House, Grammar School Street, Bradford, BD1 4NS.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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). 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.
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.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Investment management fees are recognised when chargeable.
Charitable and support costs are included when incurred.
Grants payable are recognised when a comittment has been agreed by the Management Committee.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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.
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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Commitment withdrawn in the year due to the funded premises no longer being built.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or previous year.
Sundry
Legal and professional
Independent examination
Meeting costs
Governance costs includes payments to the accountants for Independent Examination of £1,620 (2024 £1,530).
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
During the year the charity entered into the following transactions with related parties:
Independent Examination fees of £1,620 ( 2024 £1,530) were charged by Azets (Formerly Naylor Wintersgill Limited), of which Mr Alan Wintersgill was a director until 30 April 2023, as well as a director of The George W Walsh Seeing Eye Dog Foundation Limited.
During the year £1,990 was paid to Stephen Butler for legal services. Stephen Butler is a Trrustee of The George W Walsh Seeing Eye Dog Foundation Limited (2024 £nil).