RNIB Group annual report and financial statements 2012/13
RNIB Group annual report and financial statements 2012/13 Royal National Institute of Blind People (RNIB) Trustees’ report and the audited consolidated financial statements have been prepared in accordance with the “Statement of Recommended Practice (SORP) – Accounting and Reporting by Charities (2005)” as revised in May 2008, and the Charities Act 2011. This report gives details of our work throughout the UK.
Contents 4 Chair and Chief Executive introduction 6 Structure and objectives 13 Trustees’ annual report: our work in 2012/13 14 Stopping people losing their sight unnecessarily 22 Supporting independent living 32 Creating an inclusive society 40 Financial review 41 Fundraising review 42 Our volunteers 43 Employing disabled people 43 Engagement with staff 43 Investment policy 46 Reserves policy 47 Risk management 48 Going concern 48 Health, safety and the environment 52 Independent auditors’ report to the Trustees of RNIB 54 Consolidated statement of financial activities for the year ended 31 March 2013 56 Balance sheets as at 31 March 2013 58 Group cash flow statement for the year ended 31 March 2013 60 Notes to the financial statements for the year ended 31 March 2013 116 Who’s who at RNIB
RNIB Group annual report and financial statements 2012/13 3 Kevin Carey, Chair Lesley-Anne Alexander CBE, Chief Executive
Chair and Chief Executive introduction
The last year has been an extremely challenging one for blind and partially sighted people, as well as for us as a group of charities. But despite the real problems that cuts to income and services are causing, we are extremely proud of our achievements.
During the year we have been consulting blind and partially sighted people and key stakeholders on the development of our 2014-2019 strategy. We have also been working very hard to deliver the goals we set ourselves in our existing strategy.
We continue to provide the support and services people with sight problems require in order to lead more independent lives. Our Helpline has been a vital source of support in recent years, as people struggle to cope with the impact on their lives of the economic climate. As well as seeing a growing complexity to these calls, last year we dealt with more enquiries than in any previous year. The fantastic success of our Personal Independence Payment (PIP) campaign will make a huge difference to the lives of blind and partially sighted people as they are assessed for their eligibility for PIP as it replaces Disability Living Allowance (DLA). On top of this our advice service continues its vital work identifying previously unclaimed benefits to which blind and partially sighted individuals are entitled. Across the group of charities we have continued to expand the quantity and quality of support available to people at the point of diagnosis of a sight threatening eye condition. There is now more support available in eye clinics, which is delivered by increasingly expert staff and volunteers.
4 rnib.org.uk Our work to create a better world for people with sight problems has led to some important progress this year. There are more talking cash machines which people can use independently and promises of many more to come. There are more mobile phones and internet sites that are set up so that blind and partially sighted people can use them effectively. More television programmes have audio description and we have the first talking digital TVs. Blind and partially sighted people have access to more eBooks than ever before. All these improvements, and much more besides, are a tribute to our work highlighting the issues faced by people with sight problems; and our expertise in working with industries to find innovative and creative solutions.
Toward the end of the year we launched the Spot the signs campaign as part of our work to prevent avoidable sight loss. Early indications are that the campaign has been a great success in bringing crucial eye health messages to people aged 50 plus, empowering them to spot the signs of sight loss at a point when they may still be able to do something about it. The long-term Community Engagement Projects are beginning to show what will help to get eye health messages to traditionally hard to reach communities at high risk of sight loss. Through our campaigning work we continue to have a positive impact on the development of local sight loss services and the availability of sight-saving treatments on the NHS.
It is impossible to reflect on this year without feeling immensely proud of our role working with the Olympic and Paralympic games organisers to make London 2012 the most accessible games yet. We achieved so much in terms of audio description, volunteering, employment and making venues and ticketing accessible to people with sight problems.
All of our achievements are thanks to the generosity of our supporters. Whether it is the work of local fundraising groups, the time volunteers give to help provide vital services, the extra mile to which our staff often go, or the kind people who leave us a legacy in their Will, all are equally precious.
Together we are making every day better for people with sight loss: by being there when people need us, supporting independent living, creating an inclusive society and preventing sight loss.
Kevin Carey, Chair Lesley-Anne Alexander CBE, Chief Executive
Chair and Chief Executive introduction 5 Structure and objectives
Our legal structure Royal National Institute of Blind People (RNIB) is a registered charity, number 226227, in England and Wales; number SCO39316 in Scotland; and number 1109 in the Isle of Man (foreign company number 5724F). Established in 1868, RNIB was incorporated under Royal Charter in 1949, with a Supplemental Charter in 1993 (revised in 2007).
RNIB is governed by a Trustee Board of 19 currently that meets a minimum of four times a year and takes all important strategic, policy and financial decisions, and has overall responsibility for RNIB Group activities. There are no restrictions on the way in which the Charity can operate.
A number of Trustees are elected to serve on the Board. Five Trustees are elected by the English region representatives of the UK Members’ Forum and the RNIB Cymru, Northern Ireland and Scotland Committees each elect a Country Chair who automatically becomes a Trustee on the Board. RNIB’s Honorary Officers are elected by an electoral college comprising members of the Board and the UK Members’ Forum.
Additionally a proportion of our Trustees are appointed by the Board itself, following a process of open competition. Advertisements are placed in appropriate publications and websites. Candidates are invited to apply on the basis of a Trustee job description, person specification and the specific skills identified by the Board. Applications are reviewed against the person specification and the specialist skills and experience being sought by the Board. Points are then awarded on the basis of how well the candidate met the criteria. Shortlisted applicants are invited to interview and again are scored against the selection criteria. At the conclusion of the process, successful candidates are recommended to the Board for appointment.
Trustees serve a three-year term of office, following which they can choose to retire or may seek re-election/re-appointment. However, no Trustee may serve for more than three consecutive terms of three years of office, unless they become one of the Charity’s Honorary Officers (RNIB Group Chair, Vice-Chairs or Honorary Treasurer) when they can serve for no more than three consecutive terms of three years in that capacity from the AGM at which they are appointed to that position.
An induction pack is provided to all new Trustees and they are invited to attend an intensive induction day during which they are provided with information on the key services provided by RNIB and the main challenges and policy issues facing the Charity. Each Trustee receives an annual appraisal during which any individual training needs are identified. Where collective training needs
6 rnib.org.uk are established, these are delivered to the Board on a collective basis. Recently delivered training includes voice coaching (including voice coaching for chairing meetings) and trustee duties and responsibilities (with particular emphasis on management of conflicts of interests). Arrangements are in hand to deliver a programme of support for Trustees to give them greater insight into RNIB’s finances and the interpretation of financial statements. How we are managed The Board delivers the strategy through a number of programme boards. It is also supported by a number of committees and member forums. The key committees supporting the Board and a description of their areas of responsibility are as follows: • RNIB Group Audit Committee: oversees effective auditing, financial reporting, internal controls and risk management within RNIB. • Executive Committee: pre-digests complex matters for the RNIB Group Board; advises the Board with a view to ensuring the alignment of budget and service priorities, including consideration of the budget and business plan. Acts as programme board for the Enabler Programme that underpins the RNIB Group Strategy 2009-14. • Governance Committee (and Nominations Committee): takes an overview of the governance arrangements of RNIB and supports the Board and Strategic Management Team (SMT) in ensuring that effective governance structures are in place. Appoints a panel to review nominations and act as interview panel for Trustee applicants. • International Committee: delivers the international element of RNIB Group Strategy 2014-19 and acts as the planning, co-ordinating and monitoring forum for RNIB’s international affairs. • Investments Sub-Committee: oversees the effective investment of funds for the Charity on behalf of the Board. Acts in an advisory role on the effective investment of funds to the Trustees of the RNIB Retirement Benefits Scheme. • Remuneration Committee: reviews the salaries for the Chief Executive and Group Directors and other relevant matters, such as the general position relating to remuneration at RNIB. • Trustees Review Payments Committee: reviews whether it is in the interests of RNIB to pay or contract with Trustees or connected persons or any other individual involved in RNIB Governance, for the provision of services to the organisation, rather than any other company or individual. • RNIB Cymru Committee: takes an overview of the arrangements and range of services for blind and partially sighted people in Cymru and supports the Board and SMT in ensuring that appropriate arrangements are in place within the context of RNIB’s Strategy. • RNIB Northern Ireland Committee: takes an overview of the arrangements and range of services for blind and partially sighted people in Northern Ireland and supports the Board and SMT in ensuring that appropriate arrangements are in place within the context of RNIB’s Strategy.
Structure and objectives 7 • RNIB Scotland Committee: takes an overview of the arrangements and range of services for blind and partially sighted people in Scotland and supports the Board and SMT in ensuring that appropriate arrangements are in place within the context of RNIB’s Strategy.
RNIB’s schools and colleges have their own governing bodies.
The day-to-day management of RNIB is delegated to SMT, comprising the Chief Executive, and the Group Directors of: • Prevention and International Affairs • Supporting Independent Living • Inclusive Society • Solutions • Fundraising • Resources • and the Chief Executive of Action for Blind People.
The Chief Executive of RNIB Group, with the support of the rest of SMT, reports to the Board of Trustees for approval of all major decisions. Full details of SMT can be found in the section “Who’s who at RNIB”. RNIB Membership At March 2013 we had 10,448 (2012: 10,252) members forming a strong community and voice for blind and partially sighted people. The UK Members’ Forum supports the Board and influences policy via the “on the ground” experiences of our blind and partially sighted members. Members also influence our work through regional and country forums. Every member is kept up to date with the latest news from RNIB via our award-winning members’ magazine “Vision”.
The supplemental charter and bye-laws require that a majority of the Board of Trustees, UK Members’ Forum and all other aspects of RNIB’s governance structure are blind or partially sighted. Our registered office We are registered at 105 Judd Street, London WC1H 9NE, telephone 020 7388 1266.
8 rnib.org.uk Statement of Trustees’ responsibilities The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, and Scotland 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 the Group and of the incoming resources and application of resources of the Group 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 judgments and estimates that are reasonable and prudent; • state whether applicable 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 Charity 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 Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Structure and objectives 9 Our vision and mission Our work starts from our vision: “A world where people who are blind or partially sighted enjoy the same rights, responsibilities, opportunities and quality of life as people who are sighted.”
Our mission is: “To challenge blindness by empowering people who are blind or partially sighted, removing the barriers they face and helping to prevent blindness.”
There are 1.87 million people in the UK living with a sight problem that has a significant impact on their lives.
Achieving our mission In order to achieve our mission, RNIB Group Strategy 2009–2014 aligns our work under three clear priorities:
1. Stopping people losing their sight unnecessarily In support of the UK Vision Strategy, a VISION 2020 (UK) Limited initiative of over 650 individuals and organisations led by RNIB, we work with partners to save the sight of thousands of people at high risk of losing their sight, whilst developing models, political will and NHS capacity to make an even bigger impact on unnecessary sight loss in the future.
The needs of people at the point of diagnosis are often unmet, slow to be met or inadequately met. These failings mean that people often do not have the support they need to rebuild their lives following sight loss. We take proactive steps to ensure that people are supported on a one-to-one basis, meeting their emotional, practical and information needs.
2. Supporting independent living To help blind and partially sighted people get on with their lives we provide a wide range of support and services. Our work includes education and employment services, and providing person-centred support to assist people through changes in sight loss or personal circumstances, enabling the development of the skills needed to tackle life’s challenges.
Sight loss in people with complex needs often goes unrecognised. We work to improve recognition levels as well as the environment and workforce skills in settings where people with complex needs are supported.
10 rnib.org.uk 3. Creating an inclusive society It is essential that blind and partially sighted people can get around, shop, bank and control their money independently. RNIB aims to ensure that mainstream and specialist support services are available to people who require personal assistance to undertake these activities and influence a step-change in the accessibility of services delivered by transport operators, retailers and banks.
By improving access to books, magazines, newspapers, TV, radio and information and communication technologies, the independence of blind and partially sighted people will be increased and they will be able to take full advantage of current accessible services and technologies. We also aim to influence laws, standards and industries to increase inclusive design and access.
Specific programmes of work have been developed to help us deliver our ambitious goals. Each of these has a programme board which supports the Board of Trustees. These are: • Prevention of sight loss • Early reach • Living with sight loss • Supporting children and adults with complex needs • Inclusive travel, shopping and control of money • Inclusive reading, TV and technology • Funding our ambition • Enabling our ambition. Statement of public benefit The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charities and Public Benefit”.
RNIB’s charitable objects are enshrined within its Charter and as such the Trustees ensure that this Charter is carried out for the public benefit through our three strategic priorities. This is done through delivery of services that whilst aimed primarily at those who are blind or partially sighted, are where appropriate open to all who might benefit throughout the United Kingdom. Membership of RNIB is not a requirement to use our services.
Where we provide specialist services or products for which we charge and these are supplied directly to blind and partially sighted people then we provide a significant subsidy for these from our own charitable funds. Where fees are paid through central or local government or commercial organisations then the pricing model covers the costs for the delivery of the service and long term maintenance and development. We also where necessary provide individuals with access to assistance in applying for funding.
Structure and objectives 11 This report allows us to show how our charitable funds are distributed and spent, and the benefits and impact that has on those using the services and the wider impact on society for the reported year and in the future. Relationship with other charities We maintain close links and support the aims of other organisations such as local, national and international charities working with or for people with sight problems. We also work closely with other disability charities on issues of mutual concern. We deliver services in partnership with some societies for blind and partially sighted people, and some of our funding comes from charities and trusts which support our aims.
Between April 2009 and February 2010 we formed associations with Action for Blind People (Action), Cardiff, Vales and Valleys (CVV) and National Talking Newspapers and Magazines (NTNM) enabling us to share skills and expertise to reach more people with sight problems in a more cost effective way. We have carried out a full merger with NTNM on 30 June 2013.
In September 2010 the Charity Commission approved a Scheme whereby RNIB became the sole corporate trustee of the Glynn Vivian Home of Rest for the Blind (Glynn Vivian). This charity operated a Care Home in Wales which had closed prior to us becoming the sole trustee. The Home has now been sold and the proceeds of the sale have been earmarked for services to blind and partially sighted people in Wales.
12 rnib.org.uk Trustees annual report: our work in 2012/13 Stopping people losing their sight unnecessarily Stopping people losing their sight unnecessarily
Over 50 per cent of sight loss in the UK is avoidable. This shocking fact is the reason we spent £3,588,000 this year making eyecare services more appropriate and accessible to patients and working to ensure sight-saving treatments are available to all.
By making sure the commissioners of sight loss services and the people working in health care are aware of the interventions £3,588,000 that can save people’s sight, we believe we can reduce the levels of unnecessary sight loss in the UK. We want people to 3 per cent of be better equipped to look after their own sight by being more resources expended aware of the causes and potential signs of sight loss, and when people are diagnosed with an eye condition we want to make were spent sure they are able to access appropriate treatments, are able preventing avoidable to understand their eye condition and make informed choices sight loss based on understanding potential outcomes.
Highlighted activity of the year Our Spot the signs campaign has introduced thousands of people to our work and the crucial eye health messages that could help save their sight in the future. Our Community Engagement Projects (CEPs) are in full flow and this year we began trialling potential models of work which will ultimately help reduce the levels of avoidable sight loss in key community groups. We have relaunched our eye health magazine “NB” as a free magazine so we can ensure vital eye health messages are getting to as many eye health professionals as possible.
Ensuring that proven eyecare treatments remain available on the NHS is proving challenging in the current economic climate but we continue to campaign for changes to restrictive practices and have had particular impact this year ensuring continued availability of cataract treatments.
Stopping people losing their sight unnecessarily 15 We have launched a sight loss data tool on our website which helps service planners by providing vital local detail demonstrating the 235,000 need for eye health and sight loss services. Our local campaigning work has helped Understanding leaflets to influence the Joint Strategic Needs Assessments (JSNAs) and should result in an delivered increasing improvement in local services and improved knowledge of the most provision of eye health services. common eye conditions Finally, our eye health experts continue to inform and reassure people with a level of expert service that isn’t available elsewhere. We continue to be the most trusted source of eye health information for anybody losing their sight and wanting to know more about their eye condition. Profile of sight loss Impact goal: Increase the profile of eye health and prevention of avoidable sight loss at a national and local level across the UK This year, to achieve this impact goal, we have campaigned to ensure that eye health and the support required by people with sight loss are included in JSNAs, have collaborated with the wider eye health sector to ensure eye health is recognised as a public health priority, and we have begun to try and influence NHS eye health provision by showcasing the findings of our Community Engagement Projects (CEPs). Our impact As part of ongoing work, we have actively influenced 32 of the approximately 150 JSNAs across the country. We have already secured the inclusion of eye health within six JSNAs, 1.87 million including Essex and North Yorkshire, have strong support for it to be included in another six, including Kent and people living Birmingham, and are in discussions with another 20 with sight loss areas. There is still much more to do to influence all JSNAs, but these successes will ensure that eye health is in the UK included in healthcare provision available in these areas and serve as an example for others to follow suit.
This year has also seen a major success in national recognition of eye health. From April 2013 sight loss became part of the Public Health Outcomes Framework in England. Anita Lightstone, UK Vision Strategy Programme Director and Chief Operations Officer for VISION 2020 (UK) Limited said:
By working together the eye health sector has ensured that preventable sight loss has been recognised by the Government as a public health priority for the first time. This major achievement is one further crucial step on our journey to improving the eye health of the nation.
Finally, although it is early days in delivering the full impact of the projects, our CEP work is already being recognised. In Bradford six GP practices are already trialling recommended practices to improve diabetes self-care within the local community, and the potential impact of the Glasgow CEP on community healthcare services has been officially recognised by the NHS Greater Glasgow and Clyde Community Health Partnership. Eye health Impact goal: Increase the awareness of eye health amongst the general public and our priority populations We have delivered a number of activities this year to 330,000 + increase the awareness of eye health. In March we launched our Spot the signs campaign with a series of radio, people responded newspaper and cinema advertisements, to alert people to the threats to sight of age-related eye conditions and to to our Spot the encourage people to look after their eyes. signs campaign This year our five Community Engagement Project (CEP) by visiting our areas have started to put interventions into practice focusing on reaching at risk populations such as South Asian, African website and African-Caribbean communities and people from areas of socio-economic deprivation.
In addition, National Eye Health Week engaged people throughout the UK with key eye health messages with particularly strong activity in Wales and Scotland and a GP surgery based campaign across England. We have also continued our work with GPs via the Doctors.net UK training site to raise levels of understanding of sight loss and position RNIB as a key source of information for doctors.
18 rnib.org.uk Our impact The Spot the signs campaign had a significant impact. Over 330,000 people visited our website as a result, and over 18,000 downloaded information on crucial eye health messages that could help identify signs of sight loss and promote action to prevent it.
Our CEP work is a long-term project that is identifying and promoting the most effective ways to overcome barriers to eye health, especially for those most at risk. Ultimately learning from the CEPs will be shared across the NHS leading to a reduction in sight loss.
National Eye Health Week delivered eye health messages through television, newspapers, magazines, and events, across England, Scotland, Northern Ireland and Wales, engaging with GPs, politicians and the general public. We believe this exposure to new information on the importance of eye health will have a similar effect to our GP training work where nearly nine in ten GPs engaged reported their intention to modify their clinical practice in relation to eye health. About your sight 75 per cent Impact goal: Increase people’s access to appropriate eyecare of Eye Health Information and understanding to manage their own eye health Service customers felt In May this year we launched our Save more in control of their Our Sight campaign to improve access to situation the diagnosis, treatment and monitoring of the four leading causes of blindness. We initially focussed on access to cataract treatment throughout the UK, highlighting the fact that over half of primary care trusts in England are forcing people to live with unnecessary sight loss.
Our Eye Health Information Service provides the specialist information people require when they have been diagnosed with a sight threatening eye condition. This year the service dealt with over 4,400 direct enquiries. Over 235,000 copies of our Department of Health approved “Understanding” series of eye health leaflets were distributed during the year. We also produced audio and text versions of the most popular leaflets in community ethnic languages, which are available from our website at rnib.org.uk/eyehealth
Our impact Through our Save Our Sight campaign we have challenged restrictive cataract treatment policies and succeeded in overturning restrictions in seven PCTs with a further 26 currently reviewing their policies as a direct result of our intervention. We also managed to overturn policies in 14 of the 19
Stopping people losing their sight unnecessarily 19 PCTs we challenged regarding their service for the treatment of retinal vein occlusion (RVO). We have successfully lobbied NICE to get a number of sight-saving new drugs made available on the NHS, including Eyelea for the treatment of wet AMD. All of this fantastic work will ensure fewer people unnecessarily losing their sight.
We also know how effective and important our Eye Health Information Service is. In this year’s impact survey, 74 per cent of respondents felt that the information they received was better than the information they had received from other sources.
The information you gave me was much better – the eye nurse specialist knew nothing about my situation and was rather dismissive of what I said. User of the Eye Health Information Service.
75 per cent of respondents to the survey felt more in control of their situation as a result of talking to the Eye Health Information Service.
The information was not scary and it made sense. I was able to listen to it several times which helped me to understand it better. It made me feel included and not left out. They gave me time, before I was anxious and worried. User of the Eye Health Information Service. Our impact goals in 2013/2014 1 We will improve the eye health of high risk populations by improving the delivery and uptake of primary and secondary care in three of five areas, by influencing commissioners and service providers. 2 We will increase the awareness of eye health amongst the general public and our priority populations through public awareness campaigns and targeting eye health information for Black and Minority Ethnic (BME) groups. 3 We will maintain or increase access to eye treatment services for people at risk of sight loss in NHS services and campaign for new treatments to be made available on the NHS.
20 rnib.org.uk Eye Health Information Service
Our work helping people better understand their eye condition and potential treatment is vitally important to many people coming to terms with losing their sight.
Gerald received a copy of our Understanding eye conditions related to diabetes leaflet after he had spoken to our Helpline about his deteriorating sight. For want of a better expression RNIB have ‘opened my eyes’ to many aspects of living with almost total blindness, including taking up braille at the age of 74! Even after being diabetic for 48 years, and helping myself and my wife, who is 81 years old, to live at home and manage as well as we do. I also enjoy RNIB’s talking books and music.
Carla contacted our Eye Health Information Service when she wanted to find out more about laser treatment for her glaucoma. I have been impressed with the compassionate tone and the level of knowledge. I leave every conversation not questioning anything. I feel reassured that what I am told is factually correct. Everyone communicate incredible well, I never feel rushed in fact I feel like they want to stay on phone till I’ve exhausted all the possible questions I might want to ask.
Photos © Shutterstock/Jorg Hackemann and Lucian Coman 21 Supporting independent living Supporting independent living
We are committed to doing all we can to help people living with a sight problem to maintain their independence and have the opportunity to lead as full and enjoyable a life as possible. This is why we have spent £87,346,000 this year on the services, support and solutions that enable people to remain independent.
Coming to terms with the fact that you are losing your sight is incredibly hard. We want the best possible support to be £87,346,000 available to everyone at the time that they need it, and for some this starts directly after diagnosis. Over the last few years 75 per cent we have worked hard to increase the quantity and quality of of resources support available in the eye clinic for people just diagnosed as losing their sight. expended were spent supporting Some people benefit hugely from peer support in coming to independent living terms with losing their sight. Having the opportunity to share your thoughts and concerns and learn from others in the same for people with sight position can prove to be a very positive experience. problems
Economic independence is a vital factor in someone’s overall independence. We work with employers and blind and partially sighted people to maximise employment opportunities, we also help blind and partially sighted people to access their entitlements and ensure their needs are considered in the planning of new assessment criteria for benefits and welfare support.
Highlighted activity of the year We are immensely proud of the fact that our Helpline was able to deal with more enquiries this year than in any previous year. People contacted us with over 466,000 enquiries during the year, and we saw an increasing complexity to these enquiries with people requiring our support to come to terms with the impact that the economic climate and changes to benefit systems and support services are having on living with sight loss. We continue to support people in claiming and receiving the benefits they are entitled to and speak up for the needs of blind and partially
Supporting independent living 23 sighted people when changes to welfare legislation are discussed. This year we had fantastic impact securing improvements to the Personal Independence Payment (PIP) criteria for blind people. Over 466,000 We have increased the quantity and quality of support available to people enquiries dealt with in eye clinics at the emotional time during the year by when they are diagnosed with a sight-threatening eye condition. This our Helpline year across RNIB and Action for Blind People, and throughout the UK, we have supported just under 19,000 people at this critical time.
More than 30,000 people received face-to-face support around the products and aids available to help people live with sight loss. There are more than 40,000 people receiving books and magazines in a format they can read from our National Library Service, and RNIB membership is at its highest level for two years.
This year we supported 279 children and young people and 207 people aged 19–25 to ensure they have the same level of access to educational opportunities as their sighted peers. We have launched the free Load2Learn service supplying pupils and professionals with online accessible resources for students with sight problems.
We continue to be very proud of the recognition that our schools, colleges and care homes are receiving for their excellent provision. We were honoured by HRH Princess Anne opening our RNIB Pears Centre for Specialist Learning.
Finally, as part of the Vision 2020 Future of rehab group we developed the Adult UK Sight Loss Pathway to support blind and partially sighted people to get the right support, at the right time, from the right people. Increasing independence Impact goal: Increase the awareness of blind and partially sighted people to manage their sight loss and increase their awareness of 18,840 social services and services in the community appropriate to their needs people supported This year we have been able to increase the reach and by an RNIB Group quality of eye clinic support available to people at the point of diagnosis. Eye Clinic Liaison Officers (ECLOs) from ECLO the RNIB Group have supported 18,840 people during the year, and overall support is now available for patients in nearly half of eye clinics across the UK. To improve quality we have trained a record 42 people on our Eye Clinic Support Studies Course and begun the SEARCH project (support for early reach in clinics and hospitals) to increase the confidence and competence of volunteers within the sight loss sector who support those at the point of diagnosis.
Our Helpline gave information, support and advice to a record number of people during the year, and this despite the fact that we once again saw an increase in the complexity of the enquiries we were receiving with people struggling to come to terms with the impact of the depressed economic climate on their lives.
This year we also launched our Sightline directory, which will increase people’s knowledge and opportunity to access services and support available in their area.
Our impact Our growing evidence of the impact of ECLOs shows the value and continued need for the role. Nine in ten patients didn’t know about all the services and support available to them before seeing the ECLO, and as a result of our support, 8 in 10 people who had seen an ECLO at the eye clinic said that it had helped them to start coming to terms with losing their sight. In Scotland, 9 in 10 people said that RNIB’s intervention was the main factor in improving their independence and quality of life after being diagnosed with sight loss.
Supporting independent living 25 The ECLO explained registration and a variety of support services. She provided emotional support, referred me to the sensory team and arranged for a low vision assessment with volunteer transport to and from the centre. The ECLO also provided me with contact information on national and local support services such as Age Concern and RNIB. I was so very appreciative of the support provided. Patient of RNIB Cymru ECLO.
In addition, the SEARCH project has begun strongly and volunteers are reporting to us increased confidence and skill in giving information and support to patients in eye clinics where there isn’t an ECLO.
Finally, our Helpline also continues to be a vital source of increased reassurance and confidence for people:
When I reached breaking point you were there, ready to help me out of the depths of my despair. Caller to the RNIB Helpline. Peer support Impact goal: Increase the confidence, self-esteem and social inclusion of older blind and partially sighted people through peer support networks and community engagement Our work to deliver this impact includes our Finding Your Feet course. This gives people the opportunity to come to terms 140 with their sight loss by meeting people in a similar situation to themselves and discussing their challenges and the potential Telebefriending solutions. Since 2009 over 400 people have attended the courses. groups every week We also bring blind and partially sighted adults together via our Talk and Support groups. These telephone groups – which include Telebefriending socialising groups and Telephone book clubs which quite often include talks with famous authors – give people the opportunity to socialise and learn from the experiences of other people in a similar situation to themselves. This year 1,955 people were involved in weekly telephone groups.
26 rnib.org.uk This year the Stafford OPTiC project (Older People Taking Control) was launched by a partnership of organisations including RNIB, Action for Blind People, Age UK, local charities and the local fire and rescue service, with the aim of working together to identify older people who would benefit from peer support groups and buddying schemes to help build their confidence and understanding of eye health.
Our impact An external evaluation of Finding Your Feet found that participants reported increased social inclusion and reduced stress as a result of the course, and that these impacts can still be present after a year.
It reinforced the fact that I’m not on my own, there are others sharing similar problems – there is information out there to help and it’s good to get that information. Finding Your Feet programme attendee.
The confidence increase has been sustained, I got involved in things I wouldn’t have got involved in had I not gone on the course. Finding Your Feet programme attendee.
Our Talk and Support groups continue to deliver positive change to people’s lives also: I’ve found that it’s given me a lot more courage now to go back out and start to do work in the community. And the ladies that make up our little group are really lovely. You feel like you’ve all known each other for many, many more years than the three years. Talk and Support participant.
Our OPTiC project is also beginning to make an impact. Over 4,000 households have been screened and offered eye health advice this year, around 300 of whom have been signposted to support organisations and community groups suitable to their needs. These people may not have been linked in without this work, and we hope the support will go on to make a real difference to their day-to-day lives.
Supporting independent living 27 Welfare benefits Impact goal: Maintain the economic independence and associated quality of life gained by blind and partially sighted people by protecting their 6,191 statutory benefit entitlements and influencing PIP assessment criteria and people supported implementation procedures to get appropriate Across the RNIB Group this year we have given over 6,000 people the support they need benefits amounting to to understand and claim the benefits they £12.9million are entitled to. This support has been vitally important during this time of economic change per annum and uncertainty.
We have campaigned to change the criteria by which blind and partially sighted people will be assessed when claiming PIP which is replacing Disability Living Allowance (DLA). This included over 90 per cent of MPs being lobbied by their constituents, organising blindfold walks with MPs in their constituencies, using national and local press to raise the profile of our campaign and much more besides.
Our impact This year we have identified £12.9million in previously unclaimed benefit entitlements for 6,191 blind and partially sighted people. Impact evidence from our service in RNIB Cymru shows that this income helps reduce social isolation, improve emotional wellbeing, and help relieve the pressure on their family and carers.
Our successful PIP campaign secured clear changes to the criteria by which people will be assessed. As a direct result blind adults who will now be entitled to the enhanced rate of PIP will be over £1,750 a year better off than we originally feared. This income will allow people to maintain their independence in areas of life others take for granted such as travel and seeing family.
28 rnib.org.uk Employment opportunities Impact goal: Improve the quality of life of working age blind and partially sighted people through delivering existing employment services and developing new interventions 804 This year has seen the successful conclusion of our ENABLER project. This has been developing a people supported to toolkit to assess the skills, aspirations and barriers retain or move into to employment of blind and partially sighted people, and piloting new ways of moving them employment closer to employment, an outcome many find extremely challenging if not impossible.
Overall through our employment support work, we have worked with employers and trained blind and partially sighted people to secure new employment or retain their job when they were losing their sight.
Due to the declining trends in employment we have undertaken an inquiry into the employment of blind and partially sighted people in the UK and we will use the findings to develop the support we provide.
Our impact Overall this year we have helped blind and partially sighted people secure or retain 804 jobs. Over half of these are permanent roles, and over half are within the private sector. One in three jobs were for clients under 25 which we hope will ensure they are able to have equal opportunities to build careers as others in society. Although the overall figure is lower than we had hoped due to few referrals from Government Work programmes, we are pleased to have helped find employment in a time when many are finding it hard.
The ENABLER project worked with a small group of clients who had not worked for a long time or faced significant barriers to employment. Of the 14 blind and partially sighted people involved, 12 secured positive outcomes: three in paid employment, three in full-time education and six in voluntary positions. The toolkit used to help these individuals will be shared across the sector, hopefully changing practice wider than RNIB.
Supporting independent living 29 I’m looking at jobs that I never dreamed of looking at and applying for them. I realised that I have skills that I picked up when volunteering that can be transferred, such as teaching and working with mental health issues. An ENABLER project participant.
It’s been life changing. Personally I’ve gone through the ceiling. I can present myself in a proper manner... Now, I read the job description and person spec and it means something to me. What I’ve learnt has given me so much more of a chance. An ENABLER project participant. Our impact goals in 2013/2014 1 We will increase the emotional wellbeing and practical skills of people at the point of diagnosis by continuing to develop the quality and quantity of early intervention support in eye clinics.
2 We will increase the knowledge and preparedness of blind and partially sighted people for the transition from DLA to PIP in 2014 and 2015.
3 We will improve the quality of education for blind and partially sighted people by increasing the support and information available to education professionals and making mainstream education accessible.
4 We will increase the employment opportunity of blind and partially sighted people of working age by increasing their work-related skills and confidence and working with employers to raise awareness.
30 rnib.org.uk Anna’s story
Anna is 15 years old and has been attending the RNIB Pears Centre for Specialist Learning for the last ten years. Anna has cerebral palsy, could not see very much at all, has physical disabilities which meant she was using a wheelchair and had limited communication skills.
To begin with, Anna was very defensive, had no confidence and could not walk at all. But the physio team at the Pears Centre worked very hard with Anna and she moved from not being able to walk at all, to being able to walk with minimal assistance.
It is believing in the young people as much as anything, and thinking they can achieve things that they might have thought unachievable before. John, Anna’s father.
We feel that Anna’s educational and physical needs are met by the school so we don’t feel that we have to be her physiotherapist, or her speech and language therapist, or her teacher, we can be her mum and her dad and her brother and try as far as possible just to enjoy the things that we would want to enjoy such as going on holiday, going out for meals and being together. Jo, Anna’s mother.
Supporting independent living 31 Creating an inclusive society Creating an inclusive society
We want the UK to be a better place to live for people who are blind or partially sighted. In 2012/13 we spent £9,395,000 working to improve the travel, shopping and banking experiences for people with sight problems, as well as ensuring better ways to read, watch television and get the most from technology.
Accessible mobile phones and the internet can be vital components of living independently for people with sight £9,512,000 problems, and we worked with manufacturers and service providers to improve the accessibility of devices and online 9 per cent of services. resources were spent Finding the confidence to travel when you lose your sight can be creating a more difficult. We want blind and partially sighted people to get around inclusive society for safely and independently. To achieve this, we support blind and people with sight partially sighted people to challenge poor practice and work with transport organisations to make their services more accessible. problems
Reading classics and the latest books is a joy for anyone with a love of reading, yet for many blind and partially sighted people this choice isn’t always possible. We have worked with publishers and retailers to ensure that more books are available to blind and partially sighted people in a format they can read; whether that is accessible eBooks, large print, braille or audio.
Highlighted activity from the year We have had some great successes this year in our work to influence key industries to improve the availability of products and services that are accessible to blind and partially sighted people.
Our work with the banking industry had a major impact this year. In November 2012 Barclays introduced 2,500 talking ATMs, The Co-operative Bank has started to roll them out and we have commitments to do the same from Lloyds, Nationwide and NatWest. This will mean that for the first time, some blind and partially sighted people will be able to access their own money independently.
Creating an inclusive society 33 Our work behind the scenes also changed the mobile phone industry with all UK networks now 82 per cent offering at least three accessible mobile devices and Microsoft promising an in-built screen reader of blind and partially on the next version of the Windows Phone. sighted people need We encouraged more people with sight problems to try out new technologies, persuaded popular help to shop online services and apps to improve their accessibility, and launched an affordable computer with in-built screen reader and magnification.
More television programmes than ever before were audio described and we saw audio description move to some online TV services. With advice from our experts, Panasonic launched the world’s first range of digital televisions with integrated voice guidance; and after several years work with Ivona on a text-to-speech solution and manufacturers TVonics, the first talking Freeview and HD recorder was launched. Blind and partially sighted people also benefited from audio description on broadcast coverage of the Olympic and Paralympic Games, and at the Games themselves.
Finally we launched our “Stop for me, speak to me” campaign to improve bus services for blind and partially sighted people, which has highlighted to the major bus operators the everyday problems blind and partially sighted people experience, and began discussions on the possible solutions. Mobiles and the internet Impact goal: Increase the accessibility of the internet and mobile phones for blind and partially sighted people through advocating and supporting changes to websites and apps We have worked with the developers of mobile devices to influence the development of a wider range of accessible options for people with sight problems. Our advocacy and consultancy with web developers has led to a wider range of websites being easier for people with sight problems to use.
This year’s Switch on to technology month proved more popular than ever. We ran a series of events, to promote new technology products, which could improve independence.
We also expanded still further our Technology Support Squad which visits people in their home or helps them over the phone to get to grips with new technology such as computers, software, telephones, televisions and radios.
34 rnib.org.uk This year we have also increased our Phone Watch events which give industry 87 per cent professionals and blind and partially sighted people the opportunity to discuss the of older blind and partially accessibility features of phones, running 25 sighted people have never events across the UK. used the internet Our impact Thanks to our work advising and encouraging mobile phone companies, all UK mobile phone networks now offer at least three accessible mobile devices, and Microsoft are promising an in-built screen reader on the next version of the Windows Phone. We have influenced the increased accessibility of a number of online services including the Money Advice Service and the Money Saving Expert website, the Audible website where people can download audio books, and eBay who as well as the work they have already done with us to improve their service for blind and partially sighted people, will this year be getting feedback from our members on how it can be improved further.
Our evaluation of the Technology Support Squad shows that the service is having the positive effect we hoped it would have. 7 in 10 clients said we were able to resolve their query when we visited, 90 per cent said it made them feel more included in everyday life, and 89 per cent reported that the service had helped them become more independent.
Thanks to the patient and helpful volunteer from the Technology Support Squad, I now love listening to my digital radio and have discovered dozens of new local and national stations. Technology support squad user.
This year’s Switch on to technology month exceeded its objectives and reached over 9,000 people directly and online, over 1,200 of whom were involved in activities such as technology taster events.
The positive impact of Phone Watch events this year has led to partnerships and sponsorship from O2, and Qualcomm have agreed to fund a post for an additional member of the Phone Watch team in 2013/14. People attending the events find them incredibly valuable as part of the buying process, and also to give them more confidence with using devices they already own.
Thrilled to bits to go. Feel much more confident using my new tablet/phone. I met other people and found out information about technology because since I lost my sight I felt lonely.
Creating an inclusive society 35 Independent travel Impact goal: Increase access to independent travel for 61 per cent blind and partially sighted people by working with of blind and partially sighted bus operators to make changes to their services people need help to get out and information of their house
This year we launched our “Stop for me, speak to me” bus campaign, looking to secure improvements to driver awareness, behaviours and stopping practices. So far five RNIB member forums have set up workshops with representatives from bus companies, and there have been six “Swap with me” events involving blind and partially sighted people and bus companies to raise awareness of sight problems and bus travel. All of the major bus companies have been involved with the campaign in at least one part of the country.
Our travel and shopping buddy pilot project in Birmingham was completed this year. This project trained volunteers to act as “buddy” partners in escorting blind and partially sighted people to get around and shop. Over the two years, 78 blind and partially sighted people were involved in the project, and 46 volunteers were fully trained.
We held our first Travel matters month in February 2013, with lots of targeted activity aimed at enabling more people to travel independently and safely. The month was a great success and we directly engaged with over 10,000 people. This year we have also successfully installed our React wayfinding system at six new sites. This technology helps blind and partially sighted people to benefit from talking signs and talking bus stops and timetables.
Our impact The bus campaign is already making an impact in local areas including First Group in Worcester, which has agreed to work with local blind and partially sighted people on a regular basis to improve the training offered to their bus drivers, Arriva buses in Manchester, which has requested materials to improve bus driver training, Transport for London, which has agreed to hold events with all of the major bus companies in London, and Reading buses, which has been working closely with us on many aspects of their service. We also presented our “beacon” award to Trent Barton buses for its first-class customer service results: putting the customer at the heart of everything they do; and recruiting great drivers and providing them with first class visual awareness training. We will promote these fantastic initiatives, encouraging industry to follow this lead and service excellence for blind and partially sighted people.
In evaluating the Birmingham travel buddy scheme, we found a range of positive impacts. Blind and partially sighted people became more confident in getting around outside the home, developed new friendships that reduced social isolation, and saved money through using less private transport; volunteers learnt more about sight problems in others and their own eye health; and transport providers were given valuable first hand feedback on the experiences of customers with sight problems using their services. Accessing books Impact goal: Improve the quality of life of blind and partially sighted 82 per cent people by making the most popular books in 2012/13 available in a of blind and partially format they can read sighted people told us that We have achieved a great deal through our reading for pleasure is influencing work with stakeholders across the digital publishing industry. We have very important to them developed positive working relationships with major publishers, such as Penguin and Simon and Schuster, device and app developers, such as Amazon, Kobo and Adobe as well as with umbrella bodies, such as the Publishers Association.
Our National Library Service continues to offer high quality giant print, DAISY audio and braille books for more than 40,000 users of the service. This year, we sent out over 1.5 million talking books.
Creating an inclusive society 37 We ran a number of outreach events across the UK raising awareness of the reading opportunities eBooks and downloadable audio books can offer to blind and partially sighted people, including hands on demonstrations of devices.
Our impact Our publishing influence led to the joint creation of the ‘Joint Statement on Accessibility and eBooks’ issued by The Publishers Association in April 2012. This called on the industry to incorporate features that assist accessibility for all readers.
Each year we measure the accessibility of the top 1,000 books. In 2009, there were no accessible books available from the mainstream. Thanks to our work with the industry and improvements to players, apps, eBooks and policies, this year 84 per cent of the top 1,000 titles were available as a fully accessible eBook.
The impact of our outreach events is illustrated by a young man who attended an event in Scotland. He came to find out how he could use eBooks and had no idea that the iPad he already owned had the capability to speak to him. We were able to show him how to do this and he was thrilled because he had been struggling to operate it and read his eBook collection.
You can read the latest novel at the same time as everyone else is reading the latest novel. Our impact goals in 2013/2014 1 We will improve the experience of independent travel of blind and partially sighted people by improving the range of accessible technology solutions and promoting good practice amongst travel providers.
2 We will increase the opportunity for blind and partially sighted people to shop and control their own money by influencing the accessibility of technology and the customer experience.
3 We will increase access for blind and partially sighted people to information, services and apps by influencing the accessibility of online services and mobile phones.
38 rnib.org.uk Engelina’s story
Engelina developed macular degeneration in her 70s. Before long she found herself unable to read or write. After visiting RNIB’s resource centre and getting some advice Engelina was able to get a computer with Zoom Text and a speaker to enable her to type emails and keep in touch with her family.
I find the technology supplied by RNIB very helpful in my life, especially my computer. It is an enormous help to me, I could not do without it since I can’t see to read and I can’t see what I write. RNIB have helped me enormously with all the questions I’ve had about technology especially. I couldn’t do without RNIB.
Creating an inclusive society 39 Financial review
We are now four years into the RNIB Group strategy for the five years to March 2014. This is based around the three aims of prevention of sight loss, independent living and creating an inclusive society. The Group Statement of Financial Activities (SOFA) reflects this strategy.
Of our overall incoming resources 61 per cent (2012: 58 per cent) came from fundraising activity (including 35 per cent, or £40.7million, from legacies; 2012: 32 per cent or £35.5million), 37 per cent (2012: 40 per cent) from service related income and 2 per cent (2012: 2 per cent) from other sources.
We have changed the basis of the estimation of the value of the legacy debtor in the financial statements as we believe our previous approach was too cautious. This has resulted in an uplift in the debtor value year on year of circa £4.7million in addition to an underlying increase of £0.5million.
Like many other voluntary organisations, we have felt the impact of government cuts on our service income which has fallen by £1.2million or 3 per cent (2012: £1.8million or 4 per cent). We endeavour to be constantly and consistently more effective whilst ensuring we are delivering to meet the needs of blind and partially sighted people.
Group incoming resources have risen by £5.4million (2012: fell by £4.7million). This is due to the two areas highlighted above, together with an increase in gains on disposal of properties which amounted to £1.5million (2012: rise of £0.7million), the reduction in income from the defined benefit scheme of £0.9million (2012: rise of £0.4million), a rise in investment income of £0.3million (2012: fall of £0.6million) and a rise in donations and gifts of £0.4million (2012: fall of £2.1million).
Our outgoing resources were split between supporting our three strategic aims of prevention of sight loss (3 per cent; 2012: 3 per cent), independent living (75 per cent; 2012: 75 per cent) and creating an inclusive society (9 per cent; 2012: 8 per cent), together with the costs of raising funds (12 per cent; 2012: 13 per cent) and the governance costs for the organisation (1 per cent; 2012: 1 per cent). What we did with these resources is explained in “Our work in 2012/13” earlier in this report. Group outgoing resources have risen by £3.7million primarily due to increased spend on supporting independent living.
RNIB’s associated charities are Action for Blind People, Cardiff, Vales and Valleys (CVV) and National Talking Newspapers and Magazines (NTNM). These charities contributed income of £23.1million (2012: £26million) of which £12.3million related to grants from RNIB (2012: £13.1million) and charitable activities of £23.3million (2012: £24.6million) to the Group in 2012/13.
40 rnib.org.uk Other significant activity during the year was: • We have spent £908,000 continuing the implementation of a new Customer Relationship Management system for the Charity to deliver improved customer interaction. This system will deepen our understanding of our customers needs and enable us to deliver services better; it should be in place in autumn 2013. • We have been able to continue to fund Eye Clinic Liaison Officers around the UK and have been working to influence the funding of these posts from government in the future. • We were able to make the Load2Learn service for schools to download accessible educational materials free for schools to use in 2012.
Free reserves at the end of the year stood at £20.7million (2012: £20.4million), which is broadly in line with our reserves policy.
An actuarial valuation was carried out at 31 March 2012 by the Pension Scheme’s actuaries “Aon Hewitt”, using the projected unit method. The valuation disclosed that the market value of the Scheme’s assets (excluding Voluntary Contributions) at that date was £149million, and that there was a deficit (calculated as the excess of the market value of the Scheme’s assets to the value of its past service ongoing liabilities, with allowance for future pay increases) of £10.1million. Contributions by RNIB on the defined benefit element of the Scheme increased to 12.9 per cent of pensionable salaries. In addition RNIB and Action share the administrative costs of the Scheme. As a part of the recovery plan RNIB agreed to make additional contributions of £830,000 a year until 30 June 2018. The pension scheme trustees have considered whether the measure used for inflation linked increases should be based on CPI rather than RPI. Given the Scheme rules, it has been decided to continue to use RPI.
The two subsidiary trading companies of the Group contributed £378,000 to the RNIB Group through gift aid, and two subsidiary charities gifted £267,000 to RNIB.
We are very grateful for the continued support of donors through legacies, gifts and donations, as well as the work of our many volunteers, which allows the vital work of RNIB to continue. The challenge of raising £66.5million (2012: £64.5million) for 2013/14 is a tall mountain to climb but we are convinced that we will achieve it so that we can ensure blind and partially sighted people receive the support they need and deserve. Fundraising review Total voluntary income for 2012/13 amounted to £70.1million (2012: £64.5million), an increase of £5.6million against 2011/12 and ahead of our budget for the year. We are pleased to have achieved this against the background of the current economic difficulties that we all face, though it should be noted that this result is positively impacted by the change in the approach
Trustees annual report 41 to the estimation of the legacy debtor as noted in the Financial review. Gifts in kind included in voluntary income amount to £1.1million for free advertising in relation to Read for RNIB Day and £0.4million for pro bono work from various firms of lawyers.
On 1 April 2009 RNIB and Action entered into an association agreement. Under the terms of that agreement RNIB has taken over the responsibility for the fundraising operation of Action in return for a grant. The grant in 2012/13 amounted to £8.4million. The net proceeds of this fundraising activity have been restricted within these accounts for the benefit of Action.
Fundraising costs for 2012/13 amounted to £14.4million which is the same as 2011/12. The fundraising costs are net of an internal recharge in the sum of £5.2million (2012: £4.8million) for costs incurred in raising public awareness about matters relating to sight loss. These costs have been included within the costs of “Charitable activities”.
We have continued to invest in our supporter relationship management programme, which we regard as an essential investment to secure long-term income. It will also help us to be more efficient in communicating essential messages and collecting donations. Our investment in fundraising is vital to sustaining our income and our ability to plan and fund direct services, but we remain focused on driving efficiencies and reducing our costs.
RNIB is a member of the Fundraising Standards Board (FRSB) scheme, the body of self-regulation of fundraising in the UK, and as a member we adhere to the highest standards of good practice. RNIB is also a member of the Institute of Fundraising and adheres to contemporary best practice codes of fundraising. Our volunteers Volunteers are vital to our work and enable us to make a difference to more people with sight problems than would otherwise be possible. This includes the fantastic work of our Technology Support Squad, visiting people in their homes and helping people to make the most of computers, mobile phones and other new technology. Volunteers also help by recording audio material for blind and partially sighted people, facilitating peer support telephone groups, helping people get out and about safely and much more besides, including all the wonderful support we receive at fundraising events.
Without our volunteers it would not be possible to achieve nearly as much as we do. Across the RNIB Group we have benefited from the support of 3,800 volunteers during the year (2012: 3,700) contributing over 33,800 hours (2012: 28,200) of their time every month.
42 rnib.org.uk Employing disabled people RNIB recognises the exclusion and disadvantages that disabled people experience as a result of social, economic, and material barriers, created by the world in which we live. RNIB also recognises that disabled people may be enabled by learning additional skills.
RNIB is working to ensure that disabled people receive the maximum possible benefit that can accrue to them through the Equality Act (Disability Discrimination Act in Northern Ireland). As an employer, RNIB takes steps to ensure that it meets its obligations under the law and, where possible, exceeds them. This includes making reasonable adjustments to meet the needs of disabled job applicants and employees. RNIB extends this principle to committee members, Trustees and volunteers in line with best practice.
Currently 12 per cent (2012: 13 per cent) of our employees are disabled. Through our Access Technology Support Unit we are able to provide specialist advice and support to ensure that disabled staff have the appropriate equipment and training to perform effectively. Additional reasonable adjustments are also made for disabled staff as required. Our Disabled Staff Forum provides feedback on specific issues which affect disabled staff. Engagement with staff RNIB has a number of mechanisms for engaging with staff and seeking their views, both formal and informal. Our Staff Information and Consultation Forums meet at site, regional and national level to discuss areas that are specifically of interest to staff but also to receive information about the financial health of the organisation and how we are achieving our strategic goals. Staff are also increasingly using the internal intranet discussion boards to share ideas and raise issues. During the last year the staff forum representatives have received additional training to support their roles and responsibilities with some elements provided by the Advisory, Conciliation and Arbitration Service (ACAS). A new position of chair of the forum was created and appointed to and the forum has been engaged in an increasing range of discussions which have included the workplace pensions auto enrolment scheme and pay and reward matters. Investment policy Statement of investment principles Investment decisions are taken on the advice of the Investment Committee whose members have a finance, investment or commercial background.
Trustees annual report 43 The Charity’s investment policy is to hold assets to achieve an appropriate return with an appropriate level of risk when considered alongside the Charity’s business plan and level of reserves. It has three investment objectives: • to invest prudently – the basic investment strategy of the Charity has been to invest in a way that the minimum level of reserves is very likely to remain covered, but with some investment risk being taken on the assets over and above this minimum level; • to invest in liquid assets – the Charity could call upon its quoted investments at any point. It should be straightforward to sell the Charity’s assets down to cash, and doing so should result in the cash being available quickly and without the potential for significant adverse impact on the value of investments; • to invest ethically – the Charity wishes to avoid unethical investments, and in particular tobacco stocks due to the link between smoking and certain conditions that result in sight loss. The benchmark allocation for investments is 20-30 per cent in equities, 30-40 per cent in bonds and 30-40 per cent in cash. This strategy was developed with the advice of Hewitt Associates and takes into account the nature of the Charity’s business as reflected in its business plans. At 31 March 2013 the allocation of investments is 27.3 per cent in equities, 33.4 per cent in bonds and 39.3 per cent in cash.
It is the Charity’s intention to maintain sufficient short term cash holdings to meet fluctuating needs, and to make appropriate use of an overdraft facility as required with the Royal Bank of Scotland.
The Charity’s reserves policy is to set the level of free reserves using a risk-based approach. The level of reserves is reviewed on an annual basis and is currently set at £20million. Planned project expenditure from designated funds and the current economic uncertainty have led the Charity to hold its investments in a low risk and liquid portfolio.
It is the Charity’s aim to perform an annual desk top review of Investment Managers and to meet them as appropriate.
The Charity has mandates with Legal & General and Foreign & Colonial (F&C) and fee structures are: • Legal & General Ethical Trust – 0.3 per cent per annum; • Legal & General Cash Trust – 0.2 per cent per annum; • Foreign & Colonial Ethical Bond Fund Share Class 2 – 0.55 per cent per annum.
The Endowment Funds are managed by F&C. F&C fee structures are: • Foreign & Colonial Ethical Bond Fund Share Class 2 – 0.55 per cent per annum; • Foreign & Colonial Stewardship Income Fund (Dist) Share Class 2 – 0.88 per cent per annum.
44 rnib.org.uk The Group investments include a further £47,000 relating to the CVV and £8,522,000 for Action. Other than the investments of Staffordshire Blind, all Action’s funds are now managed by Legal & General, using pooled funds to match the allocation set out in their investment strategy, and their performance is closely monitored against, and closely matches, publicly available market benchmarks. The investments of Staffordshire Blind are managed by Investec Wealth and Investment. Investment performance The funds in which the investments are held are measured against agreed benchmark indices for each relevant holding. The performance for the investments held by RNIB as at 31 March 2013 against each fund’s benchmark index is detailed in the following table.
Value at Actual Target +/- Performance in year to 31 March holding holding 31 March 2013 2013 £’000 % % % Fund % Benchmark +/- % Cash 8,712 39.3 30-40 -0.7 +0.3 n/a n/a Corporate 7,413 33.4 30-40 -6.6 +13.05 +11.97 +1.08 bonds UK 6,043 27.3 20-30 +7.3 17.4 12.4 +5.0 equities Total 22,168 100 -
As our UK equities are invested in an ethical fund, the stocks in the index are screened before being accepted into the fund. Of the 350 stocks in the index the fund only holds approximately 220, which had a positive impact on the fund’s relative returns over the year to 31 March 2013 as the 220 stocks held performed better than the wider market.
Cash deposits are placed on behalf of the RNIB Group including the Associated Charities by their respective banking organisations.
At 31 March 2013 the Group’s cash and short-term deposits stood at £3.7million (2012: £6.9million). During the year the Group interest received on cash and short-term deposits was £12,000 (2012: £26,000) of which £4,000 (2012: £3,000) related to the RNIB Charity. The RNIB Charity’s short-term deposits were all overnight places and the average return made was 0.20 per cent (2012: 0.25 per cent).
At 31 March 2013 the unrealised gain on the Endowment Funds was £540,000 (2012: £141,000), and the breakdown of the unrealised gain by fund can be found in note 19.
Trustees annual report 45 The Elizabeth Eagle-Bott and Dr Duncan Leeds Funds are held in both the F&C Stewardship Fund and the F&C Ethical Bond Fund.
The Emma Nye Fund is held in the F&C Stewardship Fund only. The Bristol Blind and GDC Rushton Funds are held in the F&C Ethical Bond Fund only.
The Sunshine Fund is held in the F&C Ethical Bond Fund, F&C Stewardship Fund and F&C Money Markets Fund. Reserves policy RNIB’s reserves policy focuses on the level of “free reserves”. Free reserves exclude restricted funds and designated funds, which include the net book value of land and buildings occupied by RNIB services and activities. The assessment of free reserves excludes any surplus or deficit reported on the pension scheme.
The recommended free reserves level is calculated annually in advance of the budget process on the basis of the financial impact of the current risks facing RNIB. The reserves policy is reviewed annually by the Trustees.
RNIB seeks to maintain free reserves to manage the risks to which the Charity is exposed in the course of its business, including but not limited to safeguarding against volatile income, both voluntary and service.
The Trustees consider that in order to meet these needs, and to operate effectively, RNIB needs reserves of around £20million based on the current analysis of risk. RNIB’s free reserves were £20.7million at 31 March 2013 (2012: £20.4million). The Trustees have agreed a business plan in support of the strategy which aims to keep reserves close to the reserves policy level during the strategy period.
The actuarial valuation of RNIB’s Pension Scheme at 31 March 2013 for the purposes of FRS17 showed a surplus of £4.4million (2012: a deficit of £11.5million), which is added to the level of free reserves as required by FRS17. The corresponding asset does not result in an immediate cash flow impact on the Charity. A full triennial valuation of the pension fund took place as at 31 March 2012 and the updated valuation has been produced and considered by the Pension Scheme Trustees. Contributions to the scheme are met through planned income. The level of free reserves has been calculated excluding the FRS17 surplus.
At 31 March 2013 RNIB held designated funds totalling £48.9million (2012: £47.2million). Of this, £39.7million (2012: £39.9million) relates to properties and £1.7million (2012: £1.5million) relates to other assets. Both of these are used directly in undertaking RNIB’s objectives.
46 rnib.org.uk The remaining funds amounting to £7.5million (2012: £5.8million) represent the investment and mergers funds together with amounts expected to be spent within three years on the maintenance and replacement of properties and other assets and specific projects. The fund definitions can be found within note 19.
Where restricted fund balances are in a deficit situation, then unless these will be covered by forthcoming receipts, the deficit balances are charged to general funds. Such balances in 2013 amounted to £173,000 (2012: £201,000), all of which are to be covered by forthcoming receipts. Risk management Risk is not only about threats that have to be managed; it is equally about the potential failure to seize opportunities. RNIB Group views the strategic management of risk as an integral element of its decision making processes and culture, supporting effective planning and evaluation of its activities. Identified risks are embedded in our strategic and operational management processes.
Governance of the Group’s risk management ultimately sits with the Board of Trustees. Detailed consideration of risk is delegated to Audit Committee, who are assisted by senior management in continually reviewing risk and reporting to the Board. A formal review of risk takes place every quarter.
At present, there are six key strategic risk areas which the Board of Trustees have identified. Deployment of the Group’s risk management controls and mitigations continue to remain effective, with the overall risk position remaining stable and reductions in some areas (such as risks associated with large projects). Key areas of concern continue to be risks associated with reductions in public spending meaning less funds available for blind and partially sighted people and changes to public sector contracting arrangements.
The very nature of this risk area means the Board of Trustees is focused on changes within the external environment, and developing and implementing strategies to further influence UK, country and local government, and international decision makers for the benefit of blind and partially sighted people.
The risk management approach details the structures and processes that have been put in place, and the key roles and responsibilities for successful risk management. The Board of Trustees are therefore satisfied that the major risks have been identified and processes for addressing them have been implemented. It is recognised that any control systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
Trustees annual report 47 Going concern Having reviewed the strategic risks facing the Charity, the business plan for the period 2013/14 and beyond, and the cash and investments forecast over the same period, the Board of Trustees considers that there are sufficient reserves held at 31 March 2013 to manage those risks successfully despite the current uncertain economic outlook. The Trustees consider that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the ‘going concern’ basis in preparing the annual report and financial statements.
Health, safety and the environment In recent years we have focused on our environmental impact as part of our drive towards sustainable development. This development is reliant on our employees who are our greatest asset in achieving our goals. We are firmly committed to ensuring the occupational health and safety of our staff and volunteers and to working practices based on solid risk management principles, which lead to more efficient and cost effective ways of working. We value our staff and volunteers and are seeking to continually improve the way we work to the benefit of all who work in and access our services. Environmental impact For the sixth consecutive year we have measured our environmental impact considering waste, water and energy usage, with the aim of reducing this impact, and in particular our carbon footprint. Our objective is to maximise the environmental efficiency of our buildings and work practices, reducing pollution and avoiding unnecessary costs. We have identified five priorities to address: zero carbon, zero waste, health and happiness, sustainable materials and sustainable transport.
For the RNIB Charity the figures for 2010/11 formed the baseline for the targets which have been agreed. We continue to follow the international environmental management standard ISO 14001 and are committed to continual improvement and to meeting or exceeding the requirements of applicable environmental legislation through our policies and procedures.
The performance for the year against our targets is on the opposite page.
48 rnib.org.uk Priority Target 2012/13 2011/12 Zero carbon Buildings – 10 per cent total 4,270 (4 per cent 3,910 (4.8 per cent reduction (CO2 tonnes) over increase from reduction) five years – [baseline 4,104] baseline) Zero waste Reduce total waste by 10 per 1,426 (15 per cent 1,670 (0.1 per cent cent over five years [baseline decrease) increase) 1,668] Zero waste Recycling rate of 40 per cent per 37 per cent 34 per cent annum Sustainable Reduce air, road and rail travel 671 (18 per cent 821 (3 per cent transport (CO2 tonnes) by 2.5 per cent reduction) reduction) per annum for five years [baseline 846] Sustainable Develop a sustainable Policy approved Draft policy developed materials procurement policy Health and Reduce staff sickness levels 10 days 10.5 days happiness from 10 working days in 2011 Health and Improve staff satisfaction Results available Not measured this happiness ratings in biennial staff survey autumn 2013 year from 73 per cent
Zero carbon The figures represent the amount of electricity/gas usage in our buildings converted to carbon tonnes. This year there has been a 4 per cent increase (from baseline) in CO2 tonnes energy used for our buildings. This increase in CO2 is due to higher than average use of gas (compared to the average for the last 20 years) at nearly all of our sites which is attributable to the very cold weather.
Zero waste Waste initiatives have been successful with a 15 per cent reduction in overall waste and 37 per cent recycling rate. We are striving to share best practice across the organisation with a view to achieving our 40 per cent recycling rate in 2013/14.
Sustainable transport Air, road and rail transport demonstrates the biggest reduction in CO2 emissions with virtually an 18 per cent reduction from 821 tonnes last year to 671 tonnes this year. During the coming year we will continue to encourage staff to use rail instead of road transport and to make greater use of telephone conferencing.
Trustees annual report 49 Sustainable materials The Sustainable Procurement Policy has been reviewed and approved. This is supported by more efficient processes for the evaluation of contractors ensuring we work alongside suppliers with sound environmental principles and practices.
Health and happiness Sickness absence levels overall remain at 10 working days lost per person. Initiatives to reduce sickness absence levels include a review of health and wellbeing benefits available to staff and encouragement to maintain healthy lifestyles. The Human Resources department plays a key role in the support of managers managing sickness absences, return to work interviews have increased and case handling has improved. This work is ongoing and during 2013 the staff survey will provide further insights for improvement. Going forwards During 2013/14 the governance of health, safety and the environment (HSE) will be enhanced with the development and implementation of key performance indicators agreed and monitored by the HSE Group. The HSE team is working to continuously improve our performance with legal compliance setting the baseline. Action plans include the review and consolidation of a safety management system reflecting the requirements of OHSAS 18001 (a British standard for health and safety management) and identifying the risk control performance indicators such as fire safety, control of contractors, lone working, manual handling and work-related stress. Our risks are as varied as our activities and we are working to eliminate or reduce any risks arising. Risk management will continue to be a priority for the team and we will deliver a comprehensive training programme to improve our management and processes.
We will establish an Energy Champion and Energy team to assist in the development of action plans across the Group. A programme of sustainable development workshops has taken place with more planned for the coming year. In addition we will be regularly promoting initiatives to improve our carbon footprint and environmental credentials which will include carbon reduction and recycling events.
Signed on behalf of RNIB Trustees
Kevin Carey, Chair 11 July 2013
50 rnib.org.uk
Independent auditors’ report to the Trustees of RNIB We have audited the financial statements of Royal National Institute of Blind People for the year ended 31 March 2013 which comprise the Consolidated Statement of Financial Activities, the Group and Parent Charity Balance Sheets, the Group Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Respective responsibilities of Trustees and auditors As explained more fully in the Statement of Trustees’ Responsibilities the trustees are responsible for the preparation of financial statements which give a true and fair view.
Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only for the Charity’s Trustees as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under section 144 of the Charities Act 2011 and regulations made under those Acts (regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and Regulation 30 of The Charities (Accounts and Reports) Regulations 2008) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and parent charity’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and nonfinancial information in the RNIB Group Annual Report and Financial Statements to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
52 rnib.org.uk Opinion on financial statements In our opinion the financial statements: • give a true and fair view of the state of the Group’s and parent Charity’s affairs as at 31 March 2013 and of the Group’s incoming resources and application of resources and cash flows, 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 Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and regulation 15 of The Charities (Accounts and Reports) Regulations 2008.
Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as amended) and Charities Act 2011 require us to report to you if, in our opinion: • the information given in the Trustees Annual Report is inconsistent in any material respect with the financial statements; or • proper accounting records have not been kept by the parent Charity; or • the parent charity financial statements are not in agreement with the accounting records and returns; or • we have not received all the information and explanations we require for our audit.
PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors London 11 July 2013
PricewaterhouseCoopers LLP is eligible to act, and has been appointed, as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and section 144(2) of the Charities Act 2011.
Independent auditors’ report to the Trustees of RNIB 53 54 Consolidated statement of financial activities for the year ended 31 March 2013 Notes Unrestricted Restricted Endowment Total Total funds funds funds 2013 2012 Incoming resources £’000 £’000 £’000 £’000 £’000 Incoming resources from generated funds Voluntary income Donations and gifts 19,888 9,507 - 29,395 28,989 Legacies 34,454 6,257 - 40,711 35,463 Total voluntary income 54,342 15,764 - 70,106 64,452 Activities for generating funds Merchandising and sponsorship 397 47 - 444 265 Investment income 2 562 749 - 1,311 1,079 Total incoming resources from generated funds 55,301 16,560 - 71,861 65,796 Incoming resources from charitable activities Stopping people losing their sight unnecessarily 391 201 - 592 650 Supporting independent living 27,733 12,697 - 40,430 41,620 Creating an inclusive society 1,690 290 - 1,980 1,950 Total incoming resources from charitable activities 1.5 29,814 13,188 - 43,002 44,220 Other incoming resources Other income – VAT claim 3 - - 3 11 Other income – defined benefit pension scheme - - - - 862 Net gain on disposal of fixed assets 503 1,654 - 2,157 709 Total incoming resources 1.5 85,621 31,402 - 117,023 111,598 Notes Unrestricted Restricted Endowment Total Total Resources expended funds funds funds 2013 2012 Costs of generating funds £’000 £’000 £’000 £’000 £’000 Costs of generating voluntary income 1.6 14,337 24 - 14,361 14,437 Merchandising and sponsorship costs 24 15 - 39 22 Investment management costs 106 19 6 131 138 Total costs to generate funds 1.6/5/6 14,467 58 6 14,531 14,597 Charitable activities Stopping people losing their sight unnecessarily 3,056 532 - 3,588 3,195 Supporting independent living 58,098 29,248 - 87,346 84,340 Creating an inclusive society 8,611 901 - 9,512 9,070 Total charitable activity costs 69,765 30,681 - 100,446 96,605 Governance Costs 4 1,150 306 - 1,456 1,564 Total resources expended 1.6/5/6 85,382 31,045 6 116,433 112,766 Net incoming (outgoing) resources before transfers 239 357 (6) 590 (1,168) Transfers 19 862 (85) (777) -- Net incoming (outgoing) resources before other 1,101 272 (783) 590 (1,168) recognised gains and losses Unrealised gain from revaluation of property held for sale 1.9 - - - - 996 Net gains on investment assets 1,562 829 540 2,931 383 Actuarial (loss) gain on defined benefit pension schemes 21 15,303 (368) - 14,935 (16,275) Net movement in funds 11 17,966 733 (243) 18,456 (16,064) Total funds brought forward at 1 April 2012 56,072 26,999 5,636 88,707 104,771 Total funds carried forward at 31 March 2013 19 74,038 27,732 5,393 107,163 88,707 A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities. Incoming resources of the Charity during the year were £106,223,000 (2012: £98,678,000) less resources expended by the Charity at £105,406,000 (2012: £101,220,000) led to a surplus of £817,000 (2012: deficit of £2,542,000). All incoming resources, resources expended and resulting net movements in funds are derived from continuing activities. The Isle of Man government require that we disclose the income and expenditure in the Isle of Man which amounted to £161,000 (2012: £160,000) and £191,000 (2012: £153,000) respectively. The notes that follow form part of the financial statements. 55 56 Balance sheets at 31 March 2013
Notes Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Fixed assets Tangible assets 12 79,413 79,545 63,413 64,369 Investments 13 37,857 34,387 29,293 26,811 Total fixed assets 117,270 113,932 92,706 91,180 Current assets Stocks and work-in-progress 14 1,583 1,790 1,330 1,640 Debtors: amounts falling due within one year 15 17,299 13,427 16,702 11,969 amounts falling due after one year 16 25 50 25 50 Investments (including properties held for sale) 13 - 2,054 - 2,054 Short term deposits 961 3,201 961 3,201 Cash at bank and in hand 2,774 3,753 556 561 Total current assets 22,642 24,275 19,574 19,475 Creditors: amounts falling due within one year 17 12,741 12,630 10,255 9,914 Net current assets 9,901 11,645 9,319 9,561 Total assets less current liabilities 127,171 125,577 102,025 100,741 Creditors: amounts falling due after more than one year 18 21,205 22,357 21,000 22,000 Net assets excluding pension liability 105,966 103,220 81,025 78,741 Defined benefit pension scheme asset (liability) 21 1,197 (14,513) 4,395 (11,546) Net assets including pension scheme asset 20 107,163 88,707 85,420 67,195 (liability) Notes Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 The funds of the group/charity: Endowment funds 19 5,393 5,636 5,392 5,635 Restricted income funds 19 27,732 26,999 5,990 5,488 Unrestricted income funds: Designated 19 48,909 47,218 48,909 47,218 General 19 20,734 20,400 20,734 20,400 Pension surplus (deficit) 19/21 4,395 (11,546) 4,395 (11,546) Total unrestricted income funds 19 74,038 56,072 74,038 56,072 Total group/charity funds 19 107,163 88,707 85,420 67,195
The financial statements on pages 54 to 114 were approved by the Board of Trustees on 11 July 2013 and signed on behalf of RNIB by Kevin Carey, Chair, and Terry Moody, Honorary Treasurer.
Kevin Carey Terry Moody Chair Honorary Treasurer
57 58 Group cash flow statement for
2013 2012 the year ended 31 March 2013 £’000 £’000 Net cash outflow from operating activities (2,146) (4,171) Returns on investments and servicing of finance Investment income 1,311 1,079 Interest element of finance lease rental payments and loan (1,263) (2) Net cash inflow from investments and servicing of finance 48 1,077 Capital expenditure and financial investment Purchase of tangible fixed assets (2,665) (3,158) Proceeds from sale of tangible fixed assets 560 - Purchase of investments (8,517) (4,584) Proceeds from sale of investments 8,118 5,823 Net decrease (increase) in endowment investments 243 (110) Proceeds from sale of property held for sale 2,529 3,199 Net cash inflow from capital expenditure and financial investment 268 1,170 Net cash outflow before management of liquid resources and financing (1,830) (1,924) Management of liquid resources Cash deposited to short term deposits 2,240 (815) Net cash from the management of liquid resources 2,240 (815) Financing Net (decrease) increase in endowment investments (243) 110 Finance loan advance (paid) received (1,144) 1,858 Capital element of finance lease rental payments - (233) Net cash (outflow) inflow from financing activities (1,387) 1,735 Decrease in cash (977) (1,004) Cash at 1 April 2012 3,749 4,753 Cash at 31 March 2013 2,772 3,749 Reconciliation of net income to net cash outflow 2013 2012 from operating activities £’000 £’000 Net incoming (outgoing) resources before transfers 590 (1,168) Investment income (1,311) (1,079) Depreciation 3,009 2,837 Investment management fees charged to portfolio 40 29 Gain on disposal of tangible fixed assets (473) (701) (Profit) loss on disposal of property held for sale (955) 199 Increase (decrease) in current creditors 326 (2,268) Decrease in long term creditors (8) (8) Decrease in pension provision (775) (2,353) Interest charged on finance lease payments and loan 1,263 2 Increase in debtors (4,059) (30) Decrease in stock 207 369 Net cash outflow from operating activities (2,146) (4,171)
Analysis of change in net debt 31 March Cash flow 31 March Cash flow 31 March 2011 2011/12 2012 2012/13 2013 £’000 £’000 £’000 £’000 £’000 Cash at bank 4,755 (1,002) 3,753 (979) 2,774 Bank overdraft (2) (2) (4) 2 (2) Total cash 4,753 (1,004) 3,749 (977) 2,772 Debt due within one year - (1,000) (1,000) - (1,000) Debt due after one year (21,507) (850) (22,357) 1,152 (21,205) Total change in net debt (16,754) (2,854) (19,608) 175 (19,433)
59 60 Notes to the financial statements for the year ended 31 March 2013
1. Statement of accounting policies The principal accounting policies adopted in the preparation of these financial statements are as follows: 1.1 Basis of preparation The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments and properties held for sale, in accordance with applicable accounting standards in the United Kingdom and the Statement of Recommended Practice – “Accounting and Reporting by Charities” (SORP 2005) as revised in May 2008, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The financial statements are prepared on a going concern basis. The accounting policies have been consistently applied across the Group from year to year. 1.2 Group financial statements The results of each of RNIB’s subsidiary undertakings, as listed in note 3, have been consolidated in these financial statements under the heading “Group” on a line-by-line basis, adopting uniform accounting policies. The term “Associated Charity” refers to organisations that have entered into a formal association agreement with RNIB. Their objectives contribute to those of the RNIB Group strategy and under the tests of control they are deemed to be charitable subsidiaries of RNIB. The net assets at the date of association are assessed on a fair value basis for the purposes of consolidation into the results for the RNIB Group. The results of the subsidiaries acquired during the year are included in the SOFA from the effective date of acquisition. The intra-group transactions, balances and unrealised profits are eliminated in full. Any negative goodwill arising is written off in the year of acquisition and included as an incoming resource within the SOFA. Where specific assets are gifted to RNIB as part of the acquisition, these are treated as a donation and transferred to RNIB Charity. No separate Statement of Financial Activities (SOFA) has been presented for the Charity alone as permitted by paragraph 397 of the SORP. 1.3 Foreign currency transactions Foreign currency transactions completed within the year are included at their transacted sterling equivalents. Assets and liabilities are valued using those rates published by HM Revenue & Customs as at the balance sheet date. Any foreign exchange gains or losses are charged to the SOFA. 1.4 Fund accounting Unrestricted funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Designated funds are unrestricted funds that the trustees of the Charity have set aside, out of general funds and comprise sums of money for specific projects that can either be the updating of existing, or the development and piloting of new, charitable services. Also within the designated funds are “service properties” and “other fixed assets”. “Service properties” represents the value of RNIB’s interests in land and buildings, for the provision of services to people with sight problems. This value is shown in a separate designated fund, as the properties represented are essential for the provision of RNIB’s services. Transfers in respect of additions to property in the year are made from the general fund and the development fund. Transfers are made from this fund to the general fund in respect of property disposals during the year. Property depreciation is charged to this fund. “Other fixed assets” represents other assets in use by RNIB. The assets of associated charities are held within the restricted funds. Restricted funds comprise income received with special conditions attached. Income for a specific purpose not spent in any year is carried forward in the relevant fund. Also within restricted funds are the results of the associated charities, which are operating under narrower objectives than those of RNIB. Endowments received are credited directly to the relevant endowment fund. Income arising from the related investments is allocated to the general fund or to the relevant restricted fund, depending on the terms of endowment. 1.5 Incoming resources Donated goods and services are included at the value to the Charity where these can be quantified. No amounts are included in these financial statements for the services donated by volunteers. Income from trading in subsidiary undertakings is transferred to the Charity by covenanting the profits of those undertakings. Donations are accounted for as soon as their amount and receipt is certain. Donations include Gift Aid based on amounts recoverable at the accounting date. 61 62 1. Statement of accounting policies (continued)
Pecuniary legacies are recognised on notification. Residuary legacies are recognised when probate is granted and there is sufficient information to value them. In practice this is usually when the assets and liabilities statement is received: they are included at 90 per cent of their valuation (to reflect the uncertainty of estate administration). Reversionary interests involving a life tenant are not recognised. Investment income, interest on deposits and income in connection with services to people with sight problems is recognised on an accruals basis. Where an incoming resource is received in advance of the activity to be performed then the incoming resource is deferred and included in creditors. Income from the sale of goods is recognised when orders are fulfilled. Investment income arising on endowment funds is credited to the appropriate fund in accordance with the prescribed conditions. 1.6 Resources expended (a) Expenditure, including irrecoverable VAT, is accounted for on an accruals basis. (b) Included within charitable activity costs is an apportionment of public awareness expenditure representing the costs incurred by RNIB in educating the public to be aware of the needs of people with sight loss. (c) Support costs include both Group and corporate costs and are incurred in support of direct service expenditures. Allocation of support service costs is on a mixture of bases including a staff time-based system of apportionment. (d) Fundraising expenses include those costs incurred in raising donations and legacies. (e) Governance costs are incurred in relation to the running of the Charity and the charitable subsidiaries. This includes strategic planning and attending to the statutory affairs of the Charity and the charitable subsidiaries. (f) Grants payable are charged to the SOFA when a constructive obligation exists, that is when the recipient has been informed. 1.7 Fixed assets Tangible assets are recorded at cost, including irrecoverable VAT, or where donated, open market valuation at the time of donation. Under the transitional provisions of Financial Reporting Standard 15 (FRS15), RNIB has adopted the valuations of properties as at 31 March 1999, where known, as cost and these will not be updated. Where assets are acquired through entering into Association agreements, then the cost of these are included at their fair value as at the agreement date. Assets in the course of construction are transferred to the relevant category of asset and depreciated when practical completion is achieved. The minimum threshold for capitalisation is £2,500. Depreciation is provided on all tangible fixed assets, except freehold land and assets under construction, at rates calculated to write off the cost on a straight-line basis over their expected useful lives. Where the assets have been acquired under a finance lease then depreciation, and any impairment, is provided at rates calculated to write off the cost, less estimated residual value of each asset, over the life of the primary lease. The standard rates of depreciation are as follows:
Service properties Freehold buildings 50 years Leasehold land and buildings – lease longer than 50 years 50 years Leasehold land and buildings – lease shorter than 50 years Lease period Machinery, vehicles and equipment Motor vehicles; fixtures and fittings; equipment 5 years Computer hardware 3 years
Fixed assets are subject to review for impairment when there is an indication of a reduction in their carrying value. Any impairment is recognised in the SOFA in the year in which it occurs. 1.8 Investments Listed investments are stated at mid-market value at the balance sheet date. Investment properties are stated at market value as advised by RNIB’s property advisers at the balance sheet date and this is done on an annual basis. The investment in subsidiary undertakings is at cost. The SOFA includes the net gains and losses arising on disposals and revaluations throughout the year. 1.9 Property held for sale Included within current asset investments are properties held for sale. These are properties that are actively being marketed and where there is a reasonable expectation that the sale will be completed within the next 12 months. The value of such assets is determined by the expected proceeds of the sale guided by the professional valuations received and net of estimated disposal costs. 63 64 1. Statement of accounting policies (cont)
On transfer to property held for sale the unrealised gains and losses are included along with other gains and losses within the Statement of Financial Activities. On completion the realised gains and losses will be recognised in the incoming and outgoing resources within the SOFA. 1.10 Stocks Stock of finished goods held for resale is valued at the lower of cost and net realisable value. Cost is standard cost on a first-in first-out basis. Finished goods for resale comprises products suitable for use by blind and partially sighted people, Christmas cards and gifts. 1.11 Pension scheme For the defined benefit pension schemes of the RNIB Group, the current service costs, gains and losses on settlements and curtailments, are charged to resources expended. Similarly, pension finance costs arising from changes in the net of the interest costs and expected return on assets are charged to resources expended. Where income arises as a result of such changes this is shown in the SOFA as an “other” incoming resource. Actuarial gains and losses are recognised immediately in the SOFA as “Actuarial gain, or loss, on Defined benefit pension scheme”. The Group and Charity defined benefit pension scheme asset/liability is shown on the face of the Balance Sheet. For the defined contribution schemes of the RNIB Group the amount charged to the SOFA in respect of pension costs and other post-retirement benefits are the contributions payable in the year. 1.12 Leased assets RNIB has entered into finance leases for talking book players with a view to improving and increasing the RNIB Talking Book Service for people with sight problems. Leases are regarded as finance leases where their terms transfer to the lessee substantially all of the benefits and burdens of ownership other than the right to legal title. The obligations to the lessor are shown as part of the borrowings and the rights in the corresponding assets are treated in the same way as owned fixed assets. All operating leases and rental expenses are charged to the SOFA as incurred over the term of the lease on a straight line basis. 1.13 Taxation RNIB is a registered charity, and as such is entitled to certain tax exemptions on income and profit from investments and surpluses on any trading activities carried out in furtherance of the Charity’s primary objectives, if these profits are applied solely for charitable purposes.
2. Investment income
2013 2012 Group Group £’000 £’000 General funds Investment income from quoted investments 512 665 Bank interest receivable 4 3 Rents 46 48 Royalties - 1 Restricted funds Investment income from quoted investments 741 327 Bank interest receivable 8 23 Rents - 12 Total 1,311 1,079
Details of our investment policy can be found in the financial review section of the Trustees Report.
65 66 3. Net income from trading activities of subsidiary undertakings
A summary of the results for the year ended 31 March 2013 of the subsidiaries of RNIB operating under association agreements follows:
Action CVV NTNM Total Total 2013 2012 associated associated charities charities £’000 £’000 £’000 £’000 £’000 Total incoming resources 21,530 598 973 23,101 25,973 Total outgoing resources (21,778) (552) (979) (23,309) (24,600) Net (outgoing) incoming resources before transfers (248) 46 (6) (208) 1,373 Net gains on investment assets 822 4 - 826 40 Actuarial loss on defined benefit pension scheme (264) (104) - (368) (815) Net movement in funds 310 (54) (6) 250 598 Funds brought forward 20,965 350 178 21,493 20,895 Funds carried forward 21,275 296 172 21,743 21,493 A summary of the net assets as at 31 March 2013 of the subsidiaries of RNIB operating under association agreements follows: Action CVV NTNM Total Total 2013 2012 associated associated charities charities £’000 £’000 £’000 £’000 £’000 Fixed assets 22,925 1,263 381 24,569 22,757 Current assets 2,850 203 160 3,213 4,776 Creditors – amounts falling due within one year 2,300 172 164 2,636 2,716 Creditors – amounts falling due after one year - - 205 205 357 Pension scheme liability 2,200 998 - 3,198 2,967 Net assets 21,275 296 172 21,743 21,493
Action delivers regional services in England through their Action Teams, grant funded by RNIB. Action also delivers services in the areas of work, leisure, housing, support for beneficiaries, and information and education. RNIB provides the fundraising service, with net fundraising receipts being restricted for Action. Further, RNIB has provided funding to deal with the structural deficits of Action but this funding ceased at the year end. The sum of such grants amounted to £11,499,000 in the year (2012: £12,485,000). CVV provides a wide range of services to blind and partially sighted people within Cardiff and the Vale of Glamorgan. RNIB has paid a grant to CVV in the year amounting to £342,000 (2012: £150,000). NTNM provides newspapers, magazines and information in accessible formats for people with sight problems and also people with other disabilities. RNIB provides operational funding and the fundraising service, with net fundraising receipts being restricted for NTNM. The results for NTNM are Group figures and include the results of its wholly owned subsidiary Talking Newspapers Enterprises Limited. RNIB has paid a grant to NTNM in the year amounting to £460,000 (2012: £450,000). NTNM has merged with RNIB on 30 June 2013.
67 68 3. Net income from trading activities of subsidiary undertakings (continued)
RNIB also has five wholly owned subsidiaries. These are RNIB Enterprises Limited, RNIB Services Limited, National Library for the Blind, Blind Centre for Northern Ireland and the Glynn Vivian Home of Rest for the Blind (Glynn Vivian). A summary of the results for the year ended 31 March 2013 of the subsidiaries of RNIB follows:
RNIB RNIB National Blind Glynn Total Total Enterprises Services Library for Centre for Vivian 2013 2012 Limited Limited the Blind Northern Ireland £’000 £’000 £’000 £’000 £’000 £’000 £’000 Total incoming resources 397 4,639 232 47 - 5,315 4,560 Total outgoing resources (28) (4,630) (11) (1) (19) (4,689) (4,168) Net incoming (outgoing) 369 9 221 46 (19) 626 392 resources Loss on investments ------(1) Amount gifted/covenanted to RNIB (369) (9) (221) (46) - (645) (391) Net movement in funds - - - - (19) (19) - Funds brought forward 5 - - - 19 24 24 Funds carried forward 5 - - - - 5 24 A summary of the net assets as at 31 March 2013 of the subsidiaries of RNIB follows:
RNIB RNIB National Blind Glynn Total Total Enterprises Services Library for Centre for Vivian 2013 2012 Limited Limited the Blind Northern Ireland £’000 £’000 £’000 £’000 £’000 £’000 £’000 Current assets 371 341 114 - - 826 396 Creditors – amounts falling due within 366 341 114 - - 821 372 one year Net assets 5 - - - - 5 24
RNIB Enterprises Limited The trading activities include commercial sponsorship and a scheme for the recycling of toner cartridges, with the consent of RNIB. A £200,000 facility remains available to RNIB Enterprises and if called upon would be made by RNIB to cover the working capital requirements. RNIB Services Limited administers RNIB’s school fees. National Library for the Blind (NLB) exists as a shell charity to receive donations and legacies, which are transferred to RNIB to be ring-fenced for the RNIB National Library Service. Blind Centre for Northern Ireland (BCNI) exists as a shell charity to receive donations and legacies, which are transferred to RNIB to be ring-fenced for RNIB Northern Ireland. Glynn Vivian exists as a shell charity following the sale of the property previously owned by Glynn Vivian. RNIB is the sole corporate trustee and on the grounds of control Glynn Vivian has been consolidated within the financial statements of the RNIB Group.
69 70 3. Net income from trading activities of subsidiary undertakings (continued)
A summary of the results for the year ended 31 March 2013 of all RNIB subsidiaries follows:
Associated Subsidiaries Total subsidiaries Total subsidiaries charities 2013 2012 £’000 £’000 £’000 £’000 Total incoming resources 23,101 5,315 28,416 30,533 Total outgoing resources (23,309) (4,689) (27,998) (28,768) Net (outgoing) incoming resources before (208) 626 418 1,765 transfers Net gains on investment assets 826 - 826 39 Actuarial loss on defined benefit pension scheme (368) - (368) (815) Amount gifted/covenanted to RNIB - (645) (645) (391) Net movement in funds 250 (19) 231 598 Funds brought forward 21,493 24 21,517 20,919 Funds carried forward 21,743 5 21,748 21,517
A summary of the net assets as at 31 March 2013 of all RNIB subsidiaries follows:
Associated Subsidiaries Total subsidiaries Total subsidiaries charities 2013 2012 £’000 £’000 £’000 £’000 Fixed assets 24,569 - 24,569 22,757 Current assets 3,213 826 4,039 5,172 Creditors – amounts falling due within one year 2,636 821 3,457 3,088 Creditors – amounts falling due after one year 205 - 205 357 Pension scheme liability 3,198 - 3,198 2,967 Net assets 21,743 5 21,748 21,517
The total net assets of the associated charities as at 31 March 2013 amounting to £21,743,000 (2012: £21,493,000) are held within the Group restricted and endowment funds as detailed in note 19. 4. Governance costs Total Total Total Total 2013 2012 2013 2012 Group Group Charity Charity £’000 £’000 £’000 £’000 Internal audit 100 146 79 119 External audit – PricewaterhouseCoopers LLP 130 128 76 76 External audit – other 13 17 - - Other services – PricewaterhouseCoopers LLP 13 6 11 6 Legal fees – Associated charities 106 123 106 123 Trustees’ expenses 91 83 77 70 Costs incurred in running the Chairman’s Office 237 280 237 280 (including international activity – for example World Blind Union) General costs incurred in servicing RNIB’s 766 781 550 524 corporate committees and the statutory affairs of the charity Total governance costs 1,456 1,564 1,136 1,198
71 72 5. Resources expended – Group
Direct costs Support Total Total costs 2013 2012 £’000 £’000 £’000 £’000 Costs of generating funds Costs of generating voluntary income 10,200 4,161 14,361 14,437 Merchandising and sponsorship costs 34 5 39 22 Investment management fees 102 29 131 138 Total costs to generate funds 10,336 4,195 14,531 14,597 Charitable activities Stopping people losing their sight 2,867 721 3,588 3,195 unnecessarily Supporting independent living 74,256 13,090 87,346 84,340 Creating an inclusive society 8,507 1,005 9,512 9,070 Total charitable activity costs 85,630 14,816 100,446 96,605 Governance costs 391 1,065 1,456 1,564 Total resources expended 96,357 20,076 116,433 112,766
During the year the split of costs between direct and support costs has been recalculated. 6. Support costs allocation
Human Finance Information Corporate Other Total Total resources technology services 2013 2012 £’000 £’000 £’000 £’000 £’000 £’000 £’000 Costs of generating funds Costs of generating voluntary 319 176 539 154 2,973 4,161 4,198 income Merchandising and sponsorship - 4 - 1 - 5 5 costs Investment management fees - 14 - 7 8 29 40 Total costs to generate funds 319 194 539 162 2,981 4,195 4,243 Charitable activities Stopping people losing their 65 88 139 26 403 721 647 sight unnecessarily Supporting independent living 2,039 1,555 3,734 1,209 4,553 13,090 12,257 Creating an inclusive society 148 72 225 78 482 1,005 1,020 Total charitable activity costs 2,252 1,715 4,098 1,313 5,438 14,816 13,924 Governance costs 76 300 8 37 644 1,065 1,077 Total resources expended 2,647 2,209 4,645 1,512 9,063 20,076 19,244
Basis of allocation: Human resources – Headcount and estimated time Finance – Invoicing activity, payslips and estimated time Information and knowledge services – Networked computers and estimated time Corporate services – Ordering activity, floor space and estimated time Other (including Business planning, Group support) – estimated time
73 74 7. Taxation
RNIB is a registered charity and is thus exempt from tax on income and gains falling within sections 478–489 of the Corporation Tax Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charge arises in any of the non-charitable subsidiary entities included in the Group financial statements due to their policy of gifting all taxable profits to their parent each year.
8. Group employee remuneration
The average monthly number of employees during the year was 2,406 (2012: 2,513), of which, the average full time equivalent was 1,945 (2012: 2,020). Total emoluments for all staff for the year amounted to £62,627,000 (2012: £63,723,000). The total emoluments are analysed as shown below:
2013 2012 £’000 £’000 Salary costs 52,421 53,208 Employer’s NI contributions 4,689 4,903 Employer’s pension contributions 5,517 5,612 Total emoluments 62,627 63,723 The following numbers of employees received total emoluments within the bands shown.
2013 2012 Number Number Between £60,001 and £70,000 15 20 Between £70,001 and £80,000 5 6 Between £80,001 and £90,000 1 - Between £90,001 and £100,000 3 3 Between £100,001 and £110,000 6 4 Between £130,001 and £140,000 1 1
Included in the figures above are payments amounting to £448,000 (2012: £1,140,000) made to members of staff on termination of employment. Also of the number of staff disclosed in the table above RNIB made payments on behalf of 26 (2012: 26) employees in respect of the RNIB Retirement Benefit Scheme and the Teachers’ Pension Scheme, and there were payments made to ten (2012: nine) members of staff in respect of the defined contribution element of the RNIB Retirement Benefits Pension Scheme. The total amount of employer contributions paid in respect of these employees was £313,517 (2012: £325,779). For new entrants since 1 April 2005 the RNIB Retirement Benefits Pension Scheme (RBPS) is partly defined benefit and partly defined contribution so included in the numbers reported are staff that may be within both elements of the scheme. In addition Action made payments on behalf of three (2012: two) of its employees in respect of pension contributions totalling £27,810 (2012: £27,000). Staff are able to claim reimbursement of expenditure incurred by them in the course of undertaking business on behalf of RNIB. Expenses are claimed against a set policy and guidelines, are independently authorised and are not regarded as part of the employee’s emoluments.
75 76 9. RNIB Trustees’ expenses and related parties transactions
Many Trustees and/or their organisations bear the cost of attending meetings themselves. They receive no benefits from the Charity except as users of our services. Where expenses are claimed these are in accordance with set policy and guidelines, are independently authorised and are not regarded as emoluments. Trustees of the Charity represent agencies and organisations throughout the United Kingdom, and they attend many committee, sub-committee and Boards of Governors’ meetings, most of which are held at the Charity’s London service centre. A total of £26,930 was paid to, and on behalf of, 19 Trustees of the Charity as reimbursement of travel and subsistence expenses incurred in attending these meetings (2012: £25,946 to 26 Trustees). In addition £24,054 was paid to three of the Trustees of the Charity as reimbursement of overseas travel and subsistence incurred in attending international meetings and conferences (2012: £17,150 to three Trustees). The cost of lunches in RNIB establishments during the meetings cost a further £1,828 (2012: £2,559). During the year RNIB paid Kevin Carey, Chair of RNIB, £24,000 (2012: £24,000) as remuneration in respect of carrying out his duty as Chair of RNIB. This payment has been made with the consent of the Charity Commission. In addition RNIB has paid £20,100 (2012: £20,100) to HumanITy as a contribution to their secretarial and office costs in providing support to Kevin Carey in his role as the Chair of RNIB. Kevin Carey was employed as an executive director of the HumanITy organisation, during this period. Lord Low of Dalston, a Vice President of RNIB and a Trustee of Action, is President of Visionary to which grants have been paid of £31,000 (2012: £71,000). Mike Nussbaum, a Trustee of RNIB and a Trustee of Action, is a Trustee of Guide Dogs for the Blind Association from which £53,881 (2012: £45,054) has been received and £nil (2012: £8,193) has been paid. Also Guide Dogs for the Blind Association own two Action hotels where the lease is charged at a peppercorn rent. Mike is also a Trustee of National Blind Children’s Society to which £52,073 (2012: £70,086) has been paid and from which £1,576 (2012: £977) has been received. In the year RNIB made Honoraria payments totalling £364 (2012: £985) to Ken Reid, a Trustee of RNIB, in respect the UK Vision Strategy. Tony Rucinski, a Trustee of RNIB, is a director of Scope to which £197 (2012: £90) has been paid and from which £nil (2012: £856) has been received. Paul Ryb, a Trustee of RNIB, is a Trustee of Macular Society to which £200 (2012: £500) has been paid. RNIB has provided funding in the sum of £35,000 (2012: £45,000) for a Fellowship on the Clore Social Leadership Programme. The Fellow is recruited through an open application process and Eleanor Southwood, a Trustee of RNIB, was successful in securing the Fellowship on this programme. Mike Townsend, a Trustee of RNIB, is a director of the Torch Trust from which £2,697 (2012: £4,759) has been received and to which £nil (2012: £5,000) has been paid. The Charity enters a comprehensive range of insurance policies to protect Trustees, officers and employees against losses and legal liabilities arising from neglect or default in the course of business. Total premiums for these policies amounted to £33,920 (2012: £31,270).
77 78 10. Grants payable Grants payable in the year amount to £373,000 (2012: £470,000), with five (2012: 14) grants of £5,000 or above, amounting to £115,000 (2012: £211,000). In addition, around 670 (2012: 750) small grants at an individual value of less than £5,000 were made. Notes 2013 2012 £’000 £’000 All Party Parliamentary Disability Group – contribution to the costs of the Secretariat - 5 Barnsley Blind and Partially Sighted Association - 10 Blindvoice UK - 10 Bucks Vision - 10 Clore Social Leadership Programme – Fellowship 9 35 45 Disability Alliance - 5 Fight for Sight – funding for the Sight Loss and Vision Priority Setting Partnership - 5 project Guide Dogs for the Blind Association – guide dog training 9 - 8 Louis Braille Museum - 9 Royal New Zealand Foundation of the Blind – Christchurch Earthquake - 5 South Lincolnshire Blind Society 7 7 Torch Trust 9 - 5 Vision 2020 (UK) Limited 25 - Visionary (formerly NALSVI) 9 31 71 World Blind Union - Office Sponsorship 17 16 Other grants – all under £5,000 258 259 Total grants payable 373 470 11. Total movement of funds in the year is stated after charging
Total Total 2013 2012 Group Group £’000 £’000 Auditors’ remuneration Statutory audit fee – Charity 70 70 Statutory audit fee – Subsidiary companies 13 13 Statutory audit fee – Associated charities 57 61 Audit of teachers’ pension scheme and other non statutory audit work 3 3 Financial advice and other services 21 4 Operating lease payments – other 1,450 1,719 Foreign exchange losses 53 49 Depreciation charge – tangible fixed assets 3,009 2,837 Profit on disposal of fixed assets 472 701
Of the £57,000 (2012: £61,000) statutory audit fees payable by the associated charities £13,000 (2012: £17,000) was paid to organisations other than PricewaterhouseCoopers LLP.
79 80 12. Tangible fixed assets
Group Service Machinery, Talking book Total properties vehicles and players equipment £’000 £’000 £’000 £’000 Cost Balance 1 April 2012 90,383 8,304 7,964 106,651 Additions 1,208 1,456 - 2,664 Transfer to property held for sale 300 - - 300 Elimination on Disposal (84) (640) (6,014) (6,738) Balance 31 March 2013 91,807 9,120 1,950 102,877 Accumulated depreciation Balance 1 April 2012 13,891 5,251 7,964 27,106 Charge for year 1,843 1,166 - 3,009 Elimination on Disposal (26) (611) (6,014) (6,651) Balance 31 March 2013 15,708 5,806 1,950 23,464 Net book value 31 March 2013 76,099 3,314 - 79,413 Net book value 31 March 2012 76,492 3,053 - 79,545 Charity Service Machinery, Talking book Total properties vehicles and players equipment £’000 £’000 £’000 £’000 Cost Balance 1 April 2012 75,800 5,886 7,964 89,650 Additions 5 838 - 843 Transfer to property held for sale 300 - - 300 Elimination on Disposal (84) (405) (6,014) (6,503) Balance 31 March 2013 76,021 6,319 1,950 84,290 Accumulated depreciation Balance 1 April 2012 12,898 4,419 7,964 25,281 Charge for year 1,479 548 - 2,027 Elimination on Disposal (26) (391) (6,014) (6,431) Balance 31 March 2013 14,351 4,576 1,950 20,877 Net book value 31 March 2013 61,670 1,743 - 63,413 Net book value 31 March 2012 62,902 1,467 - 64,369
Service properties are used to provide services to blind and partially sighted people. Of the net book value of property used by the Group, £16,622,000 (2012: £17,053,000) represents leaseholds of more than 50 years whilst £650,000 (2012: £1,723,000) represents leaseholds of less than 50 years. A transfer has been made to the designated service properties fund in the sum of £824,000 (2012: £702,000) comprising additions of £838,000 (2012: £1,647,000) less £14,000 (2012: £945,000) disposals in the year. A transfer has been made from the designated other fixed assets fund in the sum of £53,000 (2012: £356,000) comprising additions of £5,000 (2012: £371,000) less £58,000 (2012: £15,000) disposals in the year.
81 82 12. Tangible fixed assets (continued)
Some talking book players are still held under finance lease agreements at 31 March 2013 but have been fully depreciated. Included in Talking Book Service expenditure is interest payable of £nil (2012: £2,000) and a depreciation charge of £nil (2012: £nil) which relates to leased talking book players.
The net book values of fixed assets of the associated charities are held within the restricted funds as set out in note 19.
13. Investments
Unrestricted funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Quoted/Unquoted Market value at beginning of year 14,561 20,265 14,566 20,270 Acquisitions at cost 5,003 4 5,003 4 Disposals at opening market value (3,686) (5,738) (3,686) (5,738) Net gain on revaluation 881 30 881 30 Market value at the end of the year 16,759 14,561 16,764 14,566 Historical cost at the end of the year 12,823 15,028 15,643 14,375 Property Market value at beginning of year 1,683 1,678 1,683 1,678 Net gain on revaluation 20 5 20 5 Market value at the end of the year 1,703 1,683 1,703 1,683 Historical cost at the end of the year 600 600 600 600 Total market value at the end of the year 18,462 16,244 18,467 16,249 Total historical cost at the end of the year 13,423 15,628 16,243 14,974 Restricted funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Quoted/Unquoted Market value at beginning of year 12,507 7,803 4,927 4,799 Acquisitions at cost 271 4,642 - - Disposals at opening market value (109) (66) - - Net gain on revaluation 1,333 128 507 128 Market value at the end of the year 14,002 12,507 5,434 4,927 Historical cost at the end of the year 7,572 12,302 4,780 4,540
Endowment funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Quoted Market value at beginning of year 5,636 5,526 5,635 5,494 Acquisitions at cost 105 - 105 - Disposals at opening market value (799) (31) (799) - Net gain on revaluation 451 141 451 141 Market value at the end of the year 5,393 5,636 5,392 5,635 Historical cost at the end of the year 4,695 5,480 4,694 5,479
During the year the split of investments between restricted and unrestricted funds has been recalculated.
83 84 13. Investments (continued) Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Unrestricted funds – Quoted 18,462 16,244 18,462 16,244 Unrestricted funds – Unquoted - - 5 5 Restricted funds 14,002 12,507 5,434 4,927 Endowment funds 5,393 5,636 5,392 5,635 Total market value of investments at end 37,857 34,387 29,293 26,811 of year
The market value of investments is further broken down as follows:
Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Unrestricted funds – UK Quoted 17,145 14,951 17,145 14,951 Unrestricted funds – UK Unquoted - - 5 5 Unrestricted funds – UK Property 1,317 1,293 1,317 1,293 Restricted funds – UK Quoted 13,998 12,503 5,434 4,927 Restricted funds – Overseas Quoted 4 4 - - Endowment funds – UK Quoted 5,393 5,636 5,392 5,635 Total market value of investments at end 37,857 34,387 29,293 26,811 of year
The Trustees believe that the carrying value of the investments is supported by their underlying assets. Significant holdings Within the portfolio of quoted investments, the following holdings for the RNIB Group exceed five per cent of the total market value of the fund: 2013 2013 2012 2012 £’000 % £’000 % Unrestricted funds – L&G Ethical Trust (Distribution Units) 6,043 16.7 4,717 14.4 Unrestricted funds – L&G Cash Trust (Accumulation Units) 8,712 24.1 4,197 12.8 Unrestricted funds – F&C Ethical Bond Share Class 2 7,413 20.5 10,551 32.3 Restricted funds – CAF UK Equities fund 2,989 8.8 2,766 8.5 Restricted funds – L&G Fixed Interest Trust 4,247 11.7 3,759 11.5 Endowment funds – F&C Ethical Bond Share Class 2 (Emma Nye Fund) 2,989 8.3 2,768 8.5
In addition the Charity investments also include the following nominal holdings in subsidiary undertakings. The subsidiaries are all based within the United Kingdom and their accounting year ends are 31 March.
Subsidiary undertakings with a share Registered in Capital held Number of £1 capital % ordinary shares held RNIB Enterprises Limited England and Wales 100 5,000 RNIB Services Limited England and Wales 100 1 Inosight Limited England and Wales 33 1 Total – direct 5,002 Action for Blind People Activities Limited England and Wales 100 2 Talking Newspapers Enterprises Limited England and Wales 100 100 Total – indirect 102
In September 2011 RNIB formed a new trading subsidiary, registered in England and Wales, Inosight Limited. (Company number: 07780850) At 31 March 2012 no activities had taken place. On 2 May 2012 it was resolved that RNIB be allotted the sole class A share and therefore on the grounds of control the results for the extended period should be consolidated within the financial statements of RNIB at 31 March 2013. However, the results of Inosight are not material to the Group and on this basis have been excluded from the consolidation. 85 86 13. Investments (continued)
The loss in the period to 31 March 2013 in Inosight amounted to £83,367. The value of total reserves in the company at 31 March 2013 is (£83,364).
RNIB is the sole corporate member of the following organisations which, all bar the Glynn Vivian Home of Rest for the Blind, are limited by guarantee with no shares in issue:
Subsidiary undertakings limited Registered in Company Charity Charity number – by guarantee number number Scotland Action England and Wales 26688 205913 SCO40050 CVV England and Wales 149982 214131 - NTNM England and Wales 01973092 293656 - BCNI Northern Ireland NI 20701 XN48801 - NLB England and Wales 00058823 213212 - Glynn Vivian England and Wales - 214330 -
RNIB has an indirect holding in the following organisations, through Action, which are both limited by guarantee with no shares in issue:
Subsidiary undertakings limited by Registered in Company Charity guarantee number number The Blind Society for North Tyneside Limited England and Wales 03736040 1075973 Staffordshire Blind England and Wales 4154438 1091458 In addition to the fixed asset investments there are also some donated investments held by the Charity, which because of their nature are included within current assets.
Current Asset Investments (including property held for sale)
Unrestricted Funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Quoted Market value at beginning of year - - - - Acquisitions at cost - 2 - 2 Disposals at opening market value - (2) - (2) Market value at the end of the year - - - - Historical cost at the end of the year - - - -
Property held for sale Market value at beginning of year 1,704 - 1,704 - Transfers from fixed assets to property held for sale - 1,704 - 1,704 Transfers to fixed assets from property held for sale (480) - (480) - Disposals of property held for sale (1,224) - (1,224) - Market value at the end of the year - 1,704 - 1,704 Historical cost at the end of the year - 708 - 708 The transfer from fixed assets to property held for sale in 2012 refers to the anticipated fair value proceeds of land at Bakewell Road, Orton Southgate, Peterborough and land and buildings held in Stockport. The transfer in respect of land in Peterborough has been reversed in 2013 as there was no interest shown.
87 88 13. Investments (continued)
Restricted Funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Property held for sale Market value at beginning of year 350 2,752 350 350 Disposals of property held for sale (350) (2,402) (350) - Market value at the end of the year - 350 - 350 Historical cost at the end of the year - 350 - 350
Funds Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Unrestricted funds - 1,704 - 1,704 Restricted funds - 350 - 350 Total market value of current asset - 2,054 - 2,054 investments at end of year Total historical cost at the end of the year - 1,058 - 1,058 14. Stocks and work in progress Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Finished goods for resale 1,324 1,457 1,071 1,307 Raw materials and consumables 259 333 259 333 Total 1,583 1,790 1,330 1,640
15. Debtors – amounts falling due within one year
Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Trade debtors 3,385 3,410 2,378 2,427 Amounts owed by Group undertakings - - 980 448 Other debtors 1,779 1,951 1,631 1,891 Legacy accrued income 10,247 5,503 10,247 5,503 Prepayments and accrued income 1,888 2,563 1,466 1,700 Total 17,299 13,427 16,702 11,969
The Charity has been notified of further legacies amounting to £7,160,000 (2012: £14,501,000), which have not been recognised as income at 31 March 2013 because these will be included in future periods.
89 90 16. Debtors – amounts falling due after one year
Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Other debtors 25 50 25 50 Total 25 50 25 50
17. Creditors – amounts falling due within one year
Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Trade creditors 1,974 2,740 1,568 2,123 Bank overdraft 2 4 1 3 Net obligations under loan 1,000 1,000 1,000 1,000 Net obligations under finance leases 148 - 148 - Taxes and social security costs 1,546 1,477 1,159 1,044 Amounts owed to Group undertakings - - 22 41 Other creditors 1,427 1,363 1,247 1,206 Accruals 5,178 4,492 4,491 3,849 Deferred income – all utilised in the year 1,466 1,554 619 648 Total 12,741 12,630 10,255 9,914 18. Creditors – amounts falling due after more than one year
Group Group Charity Charity 2013 2012 2013 2012 £’000 £’000 £’000 £’000 Net obligations under bank loan is payable as follows Between one and two years 1,020 1,164 1,000 1,000 Between two and five years 3,031 3,030 3,000 3,000 More than five years 17,154 18,163 17,000 18,000 Total 21,205 22,357 21,000 22,000
In 2011/12 RNIB exercised its option to convert a three-year revolving loan agreement with the AIB Group (UK) plc to finance the redevelopment known as the RNIB Pears Centre for Specialist Learning in Coventry into a 23-year mortgage secured over the freehold property at Coventry. At 31 March 2013 the amount owing on the loan is £22million (2012: £23million). Interest is charged on the loan at 0.85 per cent above the three-month LIBOR rate. RNIB has entered into a swap with AIB under which for the period 30 December 2011 to 31 December 2026 the interest charged on the outstanding amount of the loan, less £500,000, is at a fixed rate of 5.05 per cent. Under the terms of the mortgage RNIB undertakes to maintain the aggregate of Designated and General Reserves at a level 25 per cent above the amount outstanding at any time. At 31 March 2013, with the amount outstanding at £22,000,000 (2012: £23,000,000) the level of such reserves has to exceed £27,500,000 (2012: £28,750,000) and the actual level of such reserves stands at £82,191,000 (2012: £83,302,000). The Group creditors greater than one year includes £205,000 (2012: £213,000) outstanding against a £250,000 loan from Unity Trust Bank plc provided to NTNM, secured by a first charge on their National Recording Centre. This was paid in full on 28 June 2013. It also includes £144,000 (2012: £144,000) secured on freehold property transferred from the Blind Society for North Tyneside Limited, which merged with Action in 2010/11.
91 92 19. Group/Charity statement of funds
Designated 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources losses 2013 £’000 £’000 £’000 £’000 £’000 £’000 Investment Fund 2,403 - 1,032 2,431 - 3,802 Mergers Fund 1,589 - 326 (20) - 1,243 Service property and associated 721 - 551 461 - 631 facilities development Operational equipment fund 804 2 578 1,053 - 1,281 Information technology 314 - 739 880 - 455 infrastructure fund Repairs and maintenance fund 18 - 881 947 - 84 Net book value – Service Properties 39,902 - 1,479 1,247 - 39,670 Net book value – Other fixed 1,467 - 548 824 - 1,743 assets Total designated - Group and 47,218 2 6,134 7,823 - 48,909 Charity Investment fund: The purpose is to fund major projects furthering the strategic business plan. The transfer represents new designations of £2,545,000 in relation to the CRM and digital projects which is offset by the acquisition of fixed assets in the sum of £26,000 and transfers to other funds of £88,000. Mergers fund: This fund is designed to meet the costs of transition and future development of services relating to organisations that have merged with RNIB. Service property and associated facilities development fund: The purpose is to fund capital building projects. The £461,000 transfer includes new designations of £870,000 relating to the Redhill Development Project and £59,000 transfer from general funds, offset by the acquisition of fixed assets in the sum of £383,000 and a release back to the general fund of £85,000 in respect of the land at Peterborough. Operational equipment fund: The purpose is to fund planned capital acquisitions. The £1,053,000 transfer represents a £1,045,000 designation from the general fund for general capital acquisitions and the transfer to other funds of £178,000 offset by the acquisition of fixed assets in the sum of £170,000. Information technology infrastructure fund: The purpose is to ensure that the information technology infrastructure is robust. The £880,000 transfer represents a planned designation of £250,000 towards the fund as well as a net transfer from other funds of £762,000 offset by the acquisition of fixed assets in the sum of £132,000. Repairs and maintenance fund: The purpose is to fund a rolling programme of regular property maintenance. The £947,000 transfer represents new designations of £982,000 to cover planned expenditure within this programme offset by the acquisition of fixed assets in the sum of £35,000. Net book value – service properties: The purpose is to recognise the value, net of long term debt, of RNIB’s service properties that are unavailable to free reserves. Such fixed asset properties held in the associated charities are recognised within the restricted funds. The transfer comprises £300,000 added back to freehold land from property held for sale in respect of the land at Peterborough, other additions amounting to £5,000, offset by disposals amounting to £58,000 and a reduction in the long term debt of £1,000,000 relating to the loan repayment regarding the redevelopment at the RNIB Pears Centre for Specialist Learning. Net book value – other fixed assets: The purpose is to recognise the value, net of long term debt, of RNIB’s other fixed assets that are unavailable to free reserves. Such other fixed assets held in the associated charities are recognised within the restricted funds. The transfer comprises additions amounting to £838,000, offset by disposals amounting to £14,000.
93 94 19. Group/Charity statement of funds (continued)
Other unrestricted 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 General – Charity 20,400 85,619 79,886 (6,961) 1,562 20,734 Pension reserve (11,546) - (638) - 15,303 4,395 Total other unrestricted 8,854 85,619 79,248 (6,961) 16,865 25,129 Total unrestricted – Charity and 56,072 85,621 85,382 862 16,865 74,038 Group
Restricted 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 Emma Nye fund welfare 568 217 201 - - 584 pensions Dr Duncan Leeds Bequest 38 73 42 - - 69 Elizabeth Eagle-Bott Memorial 58 40 41 - 3 60 Fund Opportunities for Volunteering 7 - - - - 7 Donations for specified 3,827 17,936 18,254 (19) - 3,490 equipment Action 276 19 293 - - 2 Glynn Vivian 350 1,674 505 (62) - 1,457 Donations for specific services 65 25 12 (4) - 74 Sub total 5,189 19,984 19,348 (85) 3 5,743 Restricted (continued) 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 Fund and/or purpose b/f 5,189 19,984 19,348 (85) 3 5,743 Big Lottery Fund AdvantAGE Programme Wales Eye 23 118 83 - - 58 Patient Advocacy Service Empowering Young People - 25 9 - - 16 Programme – Realise Energy Efficient Venues Programme 7 - 6 - - 1 Gullane Street Centre for Sensory 1 - 1 - - - Impaired People, Scotland Safe and Well Programme, Lisburn in 24 140 122 - - 42 Focus Research Programme: ENABLER 101 144 195 - - 50 RNIB Cymru Developing Emotional 18 - 18 - - - Wellbeing Through the Arts Silver Dreams Programme: OPTiC - 56 6 - - 50 (Older People Taking Control) Supporting Change and Impact: SEED - 4 4 - - - (Social Enterprise and Employment Development) Arts Council England Opening Up Creative Culture - 67 62 - - 5 Awards for All Community Connections, Northern 6 - 6 - - - Ireland RNIB Cymru Family Weekend 5 (3) 2 - - - Colour Brush In Darkness, Hillside Arts 2 - 2 - - - Sub total 5,376 20,535 19,864 (85) 3 5,965
95 96 19. Group/Charity statement of funds (continued)
Restricted (continued) 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 Fund and/or purpose b/f 5,376 20,535 19,864 (85) 3 5,965 Creative Scotland Insight Outdoors - 15 15 - - - Scottish Book Awards Transcription 1 - 1 - - - Heritage Lottery Fund A Sense of the Past 12 10 13 - - 9 All Our Stories Programme – Insight - 10 - - - 10 into the Past Reaching Communities SEED (Social Enterprise and 93 24 118 - - (1) Employment Development) Talk and Support: Supporting our - 8 - - - 8 Volunteers through Mentoring Trainee Grade Scheme: Extending - - 1 - - (1) the Reach Sport Northern Ireland RNIB Lisburn Tandem Group 6 - 6 - - - Total restricted – Charity 5,488 20,602 20,018 (85) 3 5,990 Glynn Vivian 19 - 19 - - - Action 20,965 10,031 10,279 - 558 21,275 CVV 349 256 210 - (100) 295 NTNM 178 513 519 - - 172 Total restricted – Group and 26,999 31,402 31,045 (85) 461 27,732 Charity The restricted fund under Glynn Vivian within the Charity referred to the value of the property held by RNIB as trustee which has been sold in the year.
Restricted fund balances may be in a deficit situation pending future receipts where such funding is given on a reclaim basis and at 31 March 2013 such deficit balances amounted to £173,000 (2012: £201,000), which lies within “Donations for specified equipment”, “SEED (Social Enterprise and Employment Development)” and “Trainee Grade Scheme: Extending the Reach”.
The amounts included within “Group” represent the net assets at fair value of the associated charities, other than those held within endowment funds.
Endowment 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 Sunshine 1,040 - 6 (777) 117 374 Emma Nye 2,769 - - - 220 2,989 Bristol Blind Fund 100 - - - 63 163 Eagle-Bott Memorial 545 - - - 119 664 Dr Duncan Leeds Bequest 1,020 - - - 13 1,033 GDC Rushton 161 - - - 8 169 Total endowment – Charity 5,635 - 6 (777) 540 5,392 CVV 1 - - - - 1 Total endowment – Group and 5,636 - 6 (777) 540 5,393 Charity
During the year, the Charity applied to The Charity Commission to apply a total return approach to The Sunshine Endowment Fund. This resulted in the release of the unapplied total return amounting to £777,000 to general funds. Within the balance at 31 March 2013, the value of the gift element of the permanent endowment was £323,000 (2012: £323,000) and the unapplied total return was £51,000 (2012: £717,000).
97 98 19. Group/Charity statement of funds (continued)
Summary 31 March Incoming Outgoing Transfers Gains/ 31 March 2012 resources resources (losses) 2013 £’000 £’000 £’000 £’000 £’000 £’000 Charity Unrestricted 56,072 85,621 85,382 862 16,865 74,038 Restricted 5,488 20,602 20,018 (85) 3 5,990 Endowment 5,635 - 6 (777) 540 5,392 Total 67,195 106,223 105,406 - 17,408 85,420 Group Unrestricted 56,072 85,621 85,382 862 16,865 74,038 Restricted 26,999 31,402 31,045 (85) 461 27,732 Endowment 5,636 - 6 (777) 540 5,393 Total 88,707 117,023 116,433 - 17,866 107,163 20. Analysis of net assets between funds
Group fund balances are represented by: Unrestricted Restricted Endowment Total funds Total funds funds funds funds 2013 2012 £’000 £’000 £’000 £’000 £’000 Tangible fixed assets 63,413 16,000 - 79,413 79,545 Investments 18,462 14,002 5,393 37,857 34,387 Net current assets 8,768 1,133 - 9,901 11,645 Long-term liabilities (21,000) (205) - (21,205) (22,357) Defined Benefit Pension Scheme asset 4,395 (3,198) - 1,197 (14,513) (liability) Total net assets 74,038 27,732 5,393 107,163 88,707
Charity fund balances are represented Unrestricted Restricted Endowment Total funds Total funds by: funds funds funds 2013 2012 £’000 £’000 £’000 £’000 £’000 Tangible fixed assets 63,413 - - 63,413 64,369 Investments 18,467 5,434 5,392 29,293 26,811 Net current assets 8,763 556 - 9,319 9,561 Long-term liabilities (21,000) - - (21,000) (22,000) Defined Benefit Pension Scheme asset 4,395 - - 4,395 (11,546) (liability) Total net assets 74,038 5,990 5,392 85,420 67,195
99 100 21. Pension Costs
The RNIB Group pension arrangements comprise those of RNIB and the associated charities, Action and CVV. A summary of the movement in pension assets and liabilities for the Group’s defined benefit pension funds is shown below:
a. Summary of scheme costs and Amounts charged Actuarial gain Defined Benefit balances to SOFA (losses) Pension Scheme asset (liability) £’000 £’000 £’000 RNIB Charity 4,284 15,303 4,395 Action schemes one and three 98 (264) (2,200) CVV 34 (104) (998) Total defined benefit schemes 4,416 14,935 1,197
RNIB The RNIB Retirement Benefits Pension Scheme (RBPS) is partly defined benefit and partly defined contribution. Members joining before 1 April 2005 are wholly defined benefit, with those members joining after, having a hybrid of defined benefit and defined contribution. The assets of the Scheme are held in a separate fund, under control of its trustees, to which RNIB has no access. A salary sacrifice arrangement was introduced 1 July 2010 whereby the member’s salary is reduced by the amount of the member contribution and in return the employer makes an equivalent contribution to the Scheme. An actuarial valuation was carried out at 31 March 2012 by the Scheme’s actuaries “Aon Hewitt”, using the projected unit method. The valuation disclosed that the market value of the Scheme’s assets (excluding Voluntary Contributions) at that date was £149million, and that there was a deficit (calculated as the excess of the market value of the Scheme’s assets to the value of its past service ongoing liabilities, with allowance for future pay increases) of £10.1million. Contributions by RNIB on the defined benefit element of the scheme increased to 12.9 per cent of pensionable salaries. In addition RNIB and Action share the administrative costs of the Scheme. As a part of the recovery plan RNIB agreed to make additional contributions of £830,000 a year until 30 June 2018. The pension scheme Trustees have considered whether the measure used for inflation linked increases should be based on CPI rather than RPI. Given the scheme rules, it has been decided to continue to use RPI. Following the merger with NLB, RNIB also offers the Pensions Trust’s Growth Plan. The Growth Plan is a multi employer pension plan under which contributions are invested in personal funds which have a capital guarantee and convert to a pension on retirement. No contributions are currently required into the Plan, but the Pensions Trust has advised that in the event of a withdrawal from the Plan, or in the event of the Pensions Trust being wound up, RNIB would have liability to pay a share of the accumulated deficit in the Plan, which is estimated at £937,815 based on the valuation of the Plan as at 31 December 2012. The next full actuarial valuation will be carried out during 2014. RNIB also participates in the Teachers’ Pension scheme, a defined benefit scheme for employees who were formerly employed by local education authorities. The Teachers’ Pension Scheme is an unfunded scheme. Contributions on a “pay as you go” basis are credited to The Exchequer under arrangements governed by The Superannuation Act 1972.
Action Action participates in five pension schemes and the assets of all the schemes are held separately from those of the Charity. Scheme number one is the Action Defined Benefit Scheme which was offered through the Pensions Trust. The scheme has been closed to new members since 1 October 1997. Scheme number two is the Action for Blind People money purchase scheme and is open to existing and new employees. It is currently substantially all invested in the Pensions Trust Growth Series 3 Scheme. Due to its capital guarantee, this scheme differs in some important respects from a standard Defined Contribution Scheme, and following legislation in 2011 is now classified legally as a Defined Benefit Scheme. Action is unable to identify, on a reasonable and consistent basis, its share of the underlying assets because the Pensions Trust does not provide such information as this is unavailable on a disaggregated basis. Accordingly due to the nature of the Scheme, Action has accounted for contributions as if the scheme were a Defined Contribution Scheme. Members contributions are not fixed, employees are able to make contributions up to 10 per cent of their salaries. Scheme number three is a defined benefit scheme operated by Wiltshire County Council and related to staff transferred from Shelwork Industries on 1 April 2000. The Shelwork factory operation has ceased trading and therefore the majority of the members of the scheme are no longer employees of Action. 101 102 21. Pension Costs (continued)
Scheme number four is the RNIB Retirement Benefits Pension Scheme of which Action became an Employer on 1 April 2009 pursuant to the Transfer of Undertakings Agreement whereby 118 scheme members transferred by TUPE to Action. With regard to Action it closed to new members with immediate effect from 1 April 2009. Under the Association Agreement with RNIB, the deficit on the scheme disclosed by the Triennial Actuarial Valuation at 31 March is the responsibility of RNIB. The FRS17 review of the whole scheme at 31 March 2013 produced a surplus of which £15,000 (2012: deficit £46,000) is attributable to Action. Action also participates in the Teachers’ Pension Scheme, a defined benefit scheme for employees who were formerly employed by local education authorities. The Teachers’ Pension Scheme is an unfunded scheme. Contributions on a “pay as you go” basis are credited to the Exchequer under arrangements governed by the Superannuation Act 1972.
CVV CVV is a participant within the defined benefit scheme “Cardiff and Vale of Glamorgan Pension Fund” which is part of the Local Government Pension Scheme. The following tables, and narrative, provide the detailed disclosures that relate to the RNIB Retirement Benefit Scheme. The column headed “Associated charities” refers to Action’s schemes one and three, together with that for CVV. Together these explain the Group’s pension costs.
b.Scheme assets and liabilities Expected RNIB Expected Associated Total asset return asset return charities % p.a. £’000 % p.a. £’000 £’000 2013 Scheme assets at fair value Equities 7.20 92,818 5.70-7.80 9,543 102,361 Corporate and Other Bonds 3.80 16,253 2.90-3.90 3,490 19,743 Fixed Interest Gilts - - 2.80 80 80 Index-linked Gilts 2.55 42,312 42,312 Property (including unit trusts) 6.50 11,813 3.90-7.30 996 12,809 Cash and Other (including net 2.70 2,025 0.50-7.80 154 2,179 current assets) Total market value of Scheme 5.57 165,221 5.14-6.95 14,263 179,484 assets Present value of Scheme liabilities (160,826) (17,461) (178,287) Net Pension Scheme asset 4,395 (3,198) 1,197 (liability)
103 104 21. Pension Costs (continued) b.Scheme assets and liabilities Expected RNIB Expected Associated Total (continued) asset return asset return charities % p.a. £’000 % p.a. £’000 £’000 2012 Scheme assets at fair value Equities 7.10 71,908 6.20-8.10 8,478 80,386 Corporate and Other Bonds 4.10 14,686 3.10-4.20 3,299 17,985 Fixed Interest Gilts 3.10 - 3.10 71 71 Index-linked Gilts 2.85 47,758 - - 47,758 Property (including unit trusts) 6.80 12,388 4.40-7.60 965 13,353 Cash and Other (including net 3.10 2,247 0.50-8.10 205 2,452 current assets) Total market value of Scheme 5.36 148,987 5.50-7.21 13,018 162,005 assets Present value of Scheme liabilities (160,533) (15,985) (176,518) Net Pension Scheme liability (11,546) (2,967) (14,513)
The assets of the RNIB Scheme are held with Legal and General plus BlackRock (for equities, bonds and properties), The defined benefit assets are invested according to the Statement of Investment Principles agreed by the Scheme Trustees. This sets a benchmark allocation of assets. The defined contribution assets are invested in line with member instructions. RNIB employs a building block approach in determining the long-term rate of return on pension plan assets. Historical markets are studied and assets with higher volatility are assumed to generate higher returns consistent with widely accepted capital market principles. c. Analysis of charge to the SOFA RNIB Associated Total charities £’000 £’000 £’000 Year to 31 March 2013 Current service cost 4,051 171 4,222 Interest cost 7,623 756 8,379 Expected return on Scheme assets (7,390) (795) (8,185) Expense recognised in SOFA 4,284 132 4,416 Year to 31 March 2012 Current service cost 3,559 231 3,790 Interest cost 7,467 825 8,292 Expected return on Scheme assets (8,329) (890) (9,219) Expense recognised in SOFA 2,697 166 2,863
The above service cost excludes any RNIB contributions paid to the defined contributions section of the Scheme. The Charity contributed to the Scheme at the rate of 12 per cent of pensionable salaries. These rates include the cost of death in service insurance cover. During the year the Charity contributed £4,922,000 (2012: £4,888,000) to the Scheme, and in the next year the Charity expects to contribute £4,870,000. In addition RNIB and Action share the administrative costs of the Scheme. In 2010, as a part of the recovery plan it was agreed that RNIB would make additional annual contributions of £1million over 17 years, and these contributions are included in the amounts that the Charity contributed to the Scheme, referred to above. From 1 April 2013 these additional contributions will reduce to £830,000 per year until 30 June 2018. Employer contributions will increase from 12 per cent to 12.9 per cent on the defined benefit element of the scheme. From 1 July 2010 under the RNIB salary sacrifice arrangement employer contributions and service cost include the member salary sacrifice contributions while member contributions are shown as £nil. RNIB also makes contributions to a number of other pension schemes including the Teachers’ Pension Scheme. The Teachers’ Pension Scheme is a defined benefit scheme for employees who were formerly employed by local education authorities. The Teachers’ Pension Scheme is an unfunded scheme.
105 106 21. Pension Costs (continued)
Contributions on a “pay-as-you-go” basis are credited to the Exchequer under arrangements governed by the Superannuation Act 1972. RNIB made contributions to the Teachers’ Pension Scheme for 27 employees (2012: 30) totalling £123,000 (2012: £134,000). In addition Action made contributions for two employees totalling £13,000 (2012: three employees totalling £16,000) to the Teacher’s Pension Scheme.
d. Analysis of actuarial gains and losses RNIB Associated Total charities £’000 £’000 £’000 Year to 31 March 2013 Experience gains on scheme assets 8,110 756 8,866 Experience gains (losses) on scheme liabilities 1,990 (65) 1,925 Gains (losses) on scheme liabilities arising out of changes 5,203 (1,059) 4,144 to the actuarial assumptions used Total actuarial gain (loss) 15,303 (368) 14,935 Year to 31 March 2012 Experience gains (losses) on scheme assets 3,405 (402) 3,003 Experience gains on scheme liabilities 654 348 1,002 Losses on scheme liabilities arising out of changes to the (19,519) (761) (20,280) actuarial assumptions used Total actuarial loss (15,460) (815) (16,275) In accordance with the requirements of FRS17 the full actuarial valuation at 31 March 2009 was updated by Aon Hewitt at 31 March 2013. The principal assumptions they used for this purpose are summarised in the following table.
e. Actuarial assumptions 2013 2012 2013 2012 RNIB RNIB Associated Associated charities charities % % % % Discount rate 4.50 4.75 4.30-4.50 4.70-4.80 Inflation assumption (RPI) 3.35 3.35 3.30-3.60 3.10-3.50 Inflation assumption (CPI) - - 2.40-2.80 2.20-2.80 Rate of increase in salaries 3.35 3.85 4.30-5.10 4.50-4.80 Rate of increase in pensions payments Pre 1 July 2010 – 5% p.a. cap 3.05 3.20 Post 30 June 2010 – 3% p.a. cap 2.25 2.50 2.40-2.80 2.20-2.50 Rate of increase in deferred pensions Pre 1 July 2010 – 5% p.a. cap 3.35 3.35 Post 30 June 2010 – 3% p.a. cap 3.00 3.00 2.70-3.30 2.50-3.10 Expected rate of return on scheme assets 5.57 5.36 5.50-6.90 5.50-7.20
For the RNIB scheme the mortality assumptions are based on standard mortality tables which allow for future mortality improvements. The assumptions are that a member currently aged 60 will live on average for a further 27.5 years if they are male and for a further 29.6 years if they are female. For a member who retires in 2033 at age 60 the assumptions are that they will live on average for a further 28.5 years after retirement if they are male and for a further 31.4 years after retirement if they are female, as last year. For schemes offered by the Associated Charities, for current Pensioners, their life expectancy beyond the pensionable age of 65 ranges between 21.3 to 23.9 years if they are male, and 23.6 to 26.7 years if they are female. For future Pensioners their life expectancy beyond the pensionable age of 65 ranges between 23.3 to 25.6 years if they are male and 25.5 to 28.7 years if they are female.
107 108 21. Pension Costs (continued)
f. Changes to the present value of the defined benefit RNIB Associated Total obligation charities £’000 £’000 £’000 As at 1 April 2011 134,869 15,194 150,063 Current service cost 3,559 231 3,790 Interest cost 7,467 825 8,292 Contributions by scheme participants 194 35 229 Actuarial gain on scheme liabilities 18,865 413 19,278 Net benefits paid out (4,421) (713) (5,134) As at 31 March 2012 160,533 15,985 176,518 Current service cost 4,051 171 4,222 Interest cost 7,623 756 8,379 Contributions by scheme participants 161 29 190 Actuarial (loss) gain on scheme liabilities (7,193) 1,124 (6,069) Net benefits paid out (4,349) (604) (4,953) As at 31 March 2013 160,826 17,461 178,287 g. Changes to the fair value of scheme assets during RNIB Associated Total the year charities £’000 £’000 £’000 As at 1 April 2011 136,592 12,880 149,472 Expected return on scheme assets 8,329 890 9,219 Contributions by the employer 4,888 (402) 3,003 Contributions by scheme participants 194 328 5,216 Actuarial gain on scheme assets 3,405 35 229 Net benefits paid out (4,421) (713) (5,134) As at 31 March 2012 148,987 13,018 162,005 Expected return on scheme assets 7,390 795 8,185 Contributions by the employer 4,922 269 5,191 Contributions by scheme participants 161 29 190 Actuarial gain on scheme assets 8,110 756 8,866 Net benefits paid out (4,349) (604) (4,953) As at 31 March 2013 165,221 14,263 179,484 Actual return on scheme assets 2012 11,734 488 12,222 2013 15,500 1,551 17,051
109 110 21. Pension Costs (continued)
h. Historical scheme information 2013 2012 2011 2010 2009 £’000 £’000 £’000 £’000 £’000 RNIB Fair value of scheme assets 165,221 148,987 136,592 126,067 93,446 Defined benefit obligation (160,826) (160,533) (134,869) (135,231) (101,557) Surplus (deficit) in the scheme 4,395 (11,546) 1,723 (9,164) (8,111) Gain (loss) on scheme assets 8,110 3,405 1,318 25,208 (25,316) Gain (loss) on scheme liabilities 7,193 (18,865) 7,804 (26,751) (2,531) Total actuarial gain (loss) in year 15,303 (15,460) 9,122 (1,543) (27,847) Cumulative amount of loss recognised in SOFA (8,470) (23,773) (8,313) (17,435) (15,892) Associated charities Fair value of scheme assets 14,263 13,018 12,880 12,143 11,133 Defined benefit obligation (17,461) (15,985) (15,194) (16,195) (11,867) Deficit in the scheme (3,198) (2,967) (2,314) (4,052) (734) Gain (loss) on scheme assets 756 (402) 156 2,288 (1,286) (Loss) gain on scheme liabilities (1,124) (413) 1,034 (3,856) (121) Total actuarial (loss) gain in year (368) (815) 1,190 (1,568) (1,407) Cumulative amount of loss recognised in SOFA (3,156) (2,788) (1,973) (3,163) (1,595)
The historical scheme information under “Associated charities” for 2009 excludes some information relating to CVV as this was not available. 22. Group commitments a. Capital At the year-end, RNIB has no outstanding commitments (2012: £nil). At the year-end Action has outstanding commitments amounting to £84,800 (2012: £68,800). At the year-end CVV has no outstanding commitments (2012: £1,150,000). b. Operating leases At the year-end, the Group had the following annual commitments amounting to £1,503,000 (2012: £1,587,000) under non-cancellable operating leases.
2013 2012 £’000 £’000 Land and buildings Expiring within one year 16 114 Expiring between two and five years 934 694 Expiring after five years 220 439 Vehicles Expiring within one year 30 66 Expiring between two and five years 199 199 Equipment Expiring within one year 15 6 Expiring between two and five years 89 69 Total 1,503 1,587
111 112 23. Contingent liabilities
As at 31 March 2013 other than the Pensions Trust Growth Plan contingent liability disclosed in the “Pension costs” note (Note 21) there is a liability in respect of CVV relating to the Cardiff and Vale County Council Pension Scheme additional employers contributions amounting to £62,800 (2012: £59,800).
24. Grants receivable
During the year, RNIB received a number of grants and other funding resources, which are required by the donors to be shown in our annual financial statements.
Source Purpose £’000 Big Lottery Fund AdvantAGE Wales Eye Patient Advocacy Service 118 Empowering Young People Programme: Realise 25 Lisburn in Focus Northern Ireland 140 Silver Dreams Programme: Older People Taking Control 56 (OPTiC) Supporting Change and Impact: SEED (Social Enterprise 4 and Employment Development) Big Lottery Fund – Reaching Communities SEED (Social Enterprise and Employment Development) 24 Talk and Support – Supporting our Volunteers through 8 Mentoring Big Lottery Fund – Research Programme ENABLER 144 Heritage Lottery Fund A Sense of the Past Northern Ireland 10 All Our Stories Programme – Insight into the Past 10 European Social Fund Eye Work 171 Special EU Programmes Sensory Engagement Programme 524 European Union (Lifelong Learning) VISAL 28 Alcon Eye Health Projects 10 Vision Conference 8 Source Purpose £’000 Allergan Eye Health Projects 33 Vision Conference 32 Talking Books 28 Arts Council England Opening Up Creative Culture 67 Baily Thomas Charity South Wales VILD Pilot Project 2 Bayer Eye Health Projects 99 Understanding Wet AMD Application Development 29 BBC Children in Need Building parent and peer support for blind and partially sighted 18 children Billmeir CT General support 5 Carmen Butler Charteris CT General support 35 Creative Scotland Insight Outdoors 15 DCELLS The Production of Welsh Language Curriculum Materials in 81 Multi-media Format Department of Health (Innovation, Finding Your Feet – The Next Steps 32 Excellence and Strategic Development) Bradford Community Engagement Project 48 Commissioning for Effectiveness and Efficiency 92 Search Project 49 Dyslexia Action Load2Learn Project 293 Fozzard CT Loughborough Minibus 11 Northwood Physiotherapy equipment 8 G C Gibson CT Talking Books 6 HMRC HMRC Right First Time Project 65 Ian Karten Trust Bristol Team Equipment 22 John Atcheson Foundation Simon Dickey Music Project 16 Kathleen Beryl Sleigh CT RNIB Loughborough College minibus 5 Loppylugs & Barbara Morrison CT General support 6 Macrobert Trust Insight Radio Training Academy 5 Next Helpline 10 113 114 v24. Grants receivable (continued)
Source Purpose £’000 Novartis Pharmaceuticals UK Ltd Eye Health Projects 61 Device Research Project 70 Vision Conference 8 Pfizer Glaucoma Comcordance 3 Qualcomm Qualcomm Trainee 25 Miss S E Robinson CT Talking Books 6 Roger de Haan CT Telebefriending service running costs 5 Shared Care Scotland Better Breaks Development Fund 38 SSE Energy Supply Ltd Energy Saving Advice 15 Thornton Foundation General support 5 Voluntary Action Fund Glasgow Third Sector Transformation Fund 25 Wales Council for Voluntary Action The Engagement Gateway 2 (Part funded by Welsh Government) Volunteering in Wales 21 Welsh Assembly Government Children and Family Organisation Grants (CFOG) 47 Children’s Low Vision 36 S64 – Employment Advice and Support 29 Welsh Assembly Government Get Connected – Digital Inclusion for Blind and Partially Sighted 78 Communities 2.0 People Policy on relationships with pharmaceutical companies RNIB provides services to those with sight problems, works to prevent avoidable blindness, and campaigns for positive change. These functions will not be influenced in any way by our relationship with pharmaceutical companies or by acceptance of grants or sponsorships from them. We will withdraw from any initiative that jeopardises our independence. RNIB will not embark on, or continue with, any sponsorship arrangement or collaborative venture which might damage its independence. Alcon, Allergan, Bayer, Novartis Pharmaceuticals UK Ltd and Pfizer are all pharmaceutical companies. RNIB acknowledges support from:
l Arts Council England for Opening Up Creative Culture l Heritage Lottery Fund for A Sense of the Past Northern Ireland and All Our Stories Programme – Insight into the Past.
l Big Lottery Fund for the following projects: AdvantAGE Wales Eye Patient Advocacy Service, Empowering Young People Programme: Realise, Lisburn l Creative Scotland for Insight Outdoors. in Focus Northern Ireland, Silver Dreams Programme: Older People Taking Control (OPTiC), Supporting Change and Impact: SEED (Social Enterprise and Employment Development), Talk and Support – Supporting Our Volunteers through Mentoring, ENABLER.
115 116 Who’s who at RNIB
Patron, President and l The Rt Hon Earl of Stockton Chief Executive Officer and Vice-Presidents l Sir Duncan Watson CBE Group Directors l His Grace The Duke of Westminster Patron KG, CB, CVO, OBE, TD, CD, DL Chief Executive Officer l HM The Queen (from 24 May 2012) l Lesley-Anne Alexander CBE MSc
President Honorary officers Group Directors l Dame Gail Ronson DBE l Kevin Carey MA (Cantab) MA (Kings Resources (from 24 May 2012) College, London) – RNIB Group Chair l Keith Hickey BSc MSc FCCA DChA l His Grace The Duke of Westminster l Derek Child MA – RNIB Group Vice-Chair, KG, CB, CVO, OBE, TD, CD, DL Internal Affairs Inclusive Society (until 24 May 2012) l Fazilet Hadi BA (Hons) l Ellie Southwood MA (Oxon) – RNIB Group Vice-Chair, External Affairs Prevention and International Affairs Vice Presidents l Terry Moody BA, MA – RNIB Honorary l Stephen P King MBA, FCMI l Sir John Beckwith CBE Treasurer l The Rt Hon David Blunkett MP Fundraising l Richard Brewster l Wanda Hamilton BA (Law) MInstF l Professor Ian Bruce CBE Independent Living l Jeremy Bull l Sally Harvey BA (Hons) l Haruhisa Handa l Dr Euclid Herie Solutions l Lady Jarvis l Neil Heslop OBE LLB (Hons) MBA CIM l Penny Lancaster-Stewart (Dip.M) (appointed 7 May 2013) l Lord Low of Dalston CBE l Trevor Pears CMG (from 2 January 2013) Chief Executive, Action for Blind People l l Sir Mike Rake Stephen Remington l Dr Dermot Smurfit l Rod Stewart CBE Professional advisers Auditors Solicitors PricewaterhouseCoopers LLP Bates Wells & Braithwaite 7 More London Riverside 2-6 Cannon Street London London SE1 2RT EC4M 6YH
Actuaries and investment advisers Actuary advisers (Until August 2012) (From August 2012) AON Hewitt Ltd Towers Watson 10 Devonshire Square 21 Tothill Street London London EC2M 4YR SW1H 9LL
Investment advisers Bankers AON Hewitt Ltd Royal Bank of Scotland plc 3 The Embankment Marylebone Road and Harley Street Sovereign Street Branch Leeds 10 Marylebone High Street LS1 4BJ London W1A 1FH Property advisers Knight Frank 55 Baker Street London W1U 8AN
117 118 Board of Trustees Members of the Board of Trustees together with a brief biography of each individual are listed below. Full details of membership of committees are available from the Governance Unit at RNIB’s Judd Street address. Over three-quarters of the Board are blind or partially sighted. The number in brackets after each name represents attendance at Board of Trustee meetings during the year with six being the total meetings held.
l Kevin Carey (RNIB Group Chair) (5 of 6) l Eleanor Southwood (RNIB Group Vice-Chair) (5 of 6) Kevin Carey is in his second term as Chair of the RNIB Group, Ellie became a Trustee in 2010 and was elected as RNIB Group having held this office since 2009, prior to which he was Vice-Chair (External Affairs) in 2012. She is Chair of the Living Vice-Chair from 2000-09. Kevin also chairs RNIB’s Executive, with Sight Loss Programme Board and a governor of RNIB Governance, International and Remuneration Committees and Sunshine House School. Ellie’s early career was in policy and the “Shadow” board of RNIB Solutions. He is the Founder research. More recently, she worked as a consultant with a Director of his own charity, HumanITy, which specialises in leading executive search and selection company. The 2012 RNIB eInclusion project management and policy formulation. Kevin Clore Social Fellow, Ellie is studying for an MSc in Organisational has published three novels and is a Lay minister in the Church Behaviour. Ellie’s commitment to the RNIB Group comes from of England. Born with little sight, Kevin lost his residual vision in personal experience, having been born with no useful sight. his mid 20s. He lives with his wife Margaret in Sussex. She is passionate about improving opportunities for blind and partially sighted people, particularly in overcoming barriers to l Derek Child (RNIB Group Vice-Chair) (6 of 6) employment. Derek was sighted until his mid teens when he became registered partially sighted and totally lost his sight aged 20. l Terry Moody (Honorary Treasurer) (6 of 6) Involved in RNIB Governance since 1984, Derek was elected as Terry has a long involvement with RNIB’s governance and is now RNIB Group’s Vice Chair in 2009 and now holds the office of in his third and final term of office as RNIB Group Honorary Vice-Chair (Internal Affairs). Now retired and living in Milton Treasurer following election in 2011. He is Chair of RNIB’s Keynes, Derek was previously the Head of Equality and Diversity Audit Committee, sits on the Investment Sub Committee and at the Open University. Derek is a governor of RNIB College is an RNIB Pension Trustee. Additionally, Terry sits on the Loughborough and is committed to making sure that all blind Board of Trustees of Action for Blind People. With an academic and partially sighted people get access to high quality education background in economics and finance, Terry has recently and training and improved employment opportunities. retired from Glasgow University where he was a senior lecturer in economics. Terry is blind, is married with a son and lives in Glasgow. l Linda Bancroft (5 of 6) l Dr Heather Giles (6 of 6) Linda joined the Board on 1 January 2012 having been elected Heather is in her first term of office as a Trustee, having been by the UK Members’ Forum. She has a BA (Hons) in International appointed to the Board in 2011. Professionally, Heather has held Business and Finance, is a Chartered Industrial Chemist and is also senior scientific positions in the pharmaceutical industry and has a highly experienced and successful business consultant, both a PhD in Pharmacology. She is currently Chief Scientific Officer nationally and internationally, specialising in change management. for a small pharmaceutical company. Heather has a personal Linda is married, has two sons and four grandchildren and lives in understanding of the challenges facing people with sight loss Cheshire. After losing her sight in an accident, Linda found that because she is partially sighted herself, and also, even before RNIB and Action were instrumental in helping her to gain new skills becoming a Trustee, she was supporting RNIB’s work as a local and to provide the support needed to move forward with her life. campaigns volunteer. Heather lives in London. l Margaret Bennett (5 of 6) l Lydia Harper (5 of 6) Margaret is now in her second term of office as a Trustee, having Lydia is in her first term of office as an RNIB Trustee, having first been appointed to the Board in 2010. She is currently Chair been appointed to the Board on 1 January 2012. Lydia lives in of RNIB’s Prevention of Sight Loss Programme Board. A Chartered Cardiff and is a Solicitor in private practice specialising in criminal Accountant by profession, Margaret’s portfolio of work includes litigation. Lydia is a member of the Cardiff University Professional Finance Director of Online Centres Foundation and acting as a Development Unit. In 2010 Lydia was appointed as a member mentor and coach for voluntary sector leaders. Previous roles of the Royal College of Nursing Foundation Bursary Committee. included Deputy Chief Executive of the Learning and SkilIs Whilst not registered blind or partially sighted, Lydia has Improvement Services, a senior Civil Servant and Chief Executive of experience of sight loss issues and was a volunteer befriender for the National Library for the Blind. Margaret lives in Sheffield and is RNIB before becoming a Trustee. partially sighted. l Paul Bryce (4 of 6) Paul joined the Board on 1 January 2012, having been appointed to fill a casual vacancy. Prior to that, Paul had been an active member of RNIB’s UK Members’ Forum and a volunteer campaigns co-ordinator. A freelance journalist by profession, Paul has worked both for the BBC and commercial radio and is a regular contributor to RNIB’s Insight Radio. He is currently an Assistant Press Officer with Worcestershire County Council. Living in Staffordshire, Paul has been blind from birth. 119 120 l Vidar Hjardeng MBE (6 of 6) l Dr Mike Nussbaum (3 of 6) Vidar is now in his third term of office as an RNIB Group Trustee, Mike joined the Board in May 2011 in the capacity of Chair of having been re-appointed to the Board in 2013 and chairs RNIB’s Action for Blind People. He currently chairs RNIB’s Complex Needs Travel, Shopping and Control of Money Programme Board. Vidar Programme Board. Mike was forced to cut short his career as a also sits on the Board of Action for Blind People. A broadcast research chemist after his eye sight suddenly failed. However he journalist by profession, Vidar is now a consultant with ITV soon forged a second career in local government and public policy News Group and has spent much of his career working for the development. Mike was Chair of Volunteering England for 10 years broadcaster. He lives in Birmingham and with personal experience until September 2009. He is therefore very ably equipped to fulfil of visual impairment, is proud of his association with charities his role as RNIB’s Trustee volunteering champion. Mike holds a working with, and for, fellow blind and partially sighted people. number of other appointments including as a Trustee of Guide Dogs for the Blind Association. l Tanya Lawler (3 of 6) Tanya is in her first term of office as a Trustee and was appointed l David Quigley (6 of 6) to the Board on 1 January 2012. With extensive experience in the David joined the Board on 1 January 2012 following election by retail, media and telecommunications industries, Tanya is currently the UK Members’ Forum. He chairs RNIB’s Early Reach Programme Vice-President of UK Trading at eBay. Prior to that, she held the Board and is also a governor of RNIB Pears Centre for Specialist role of Director of Digital and Cross Channel at Sainsbury’s, having Learning in Coventry. David is a member of the Prevention of previously been Director of Direct Channels at Sainsbury’s, Group Sight Loss Programme Board and represents the Charity at certain Commercial Director at Argos and Vice President of Retail at national level meetings on health-related issues. With 30 years of Capgemini. NHS general management experience, latterly as PCT executive commissioning director, David specialised in service redesign, l Richard Moore (3 of 6) responsiveness and turnaround, before retiring in 2011. David Richard joined the Board in 2011, having been elected as Chair lives in London and has personal experience of sight loss as he has of RNIB Northern Ireland. In 1972, aged 10, whilst on his way retinitis pigmentosa. home from school, Richard was blinded by a rubber bullet in Derry, Northern Ireland. Richard always wanted to meet the soldier who shot him and in 2006 they met for the first time and remain friends to this day. In 1996, Richard founded Children in Crossfire which has become an international organisation working to protect and promote the rights of some of the world’s most vulnerable children. l Ken Reid (6 of 6) including RNIB and the Macular Society, where he continues to use Ken joined the Board on 1 January 2012, having been elected his experiences in dealing with sight loss to benefit others. Paul is as Chair of RNIB Scotland by the Scotland Member Forum. Ken married, with children, and lives in London. started his career as a business analyst and then spent over 22 years working for Scottish and Newcastle in a variety of fields, l Robert Silbermann (5 of 6) including distribution operations, marketing and human resources. Robert has been a member of the Board since 2002 and is now in Shortly after joining Scottish and Newcastle, Ken was diagnosed his final term of office. He currently chairs the Funding our Ambition with retinitis pigmentosa. This led to him being registered blind (Fundraising) Programme Board. Robert has worked extensively as and eventually retiring. He now splits his time between freelance a company director, consultant and interim/turnaround executive. services, helping organisations make themselves more open and After a long career in the private sector, he “crossed over” to the accessible to disabled people and voluntary work, including a not-for-profit sector where he started a new career working with number of trusteeships. Ken lives in North Berwick. charities, using his business skills to help them become more efficient and effective. Robert’s long association with RNIB has l Tony Rucinski (6 of 6) equipped him with an extensive understanding of the issues Tony became a Trustee of RNIB in 2010. Part way through his first affecting blind and partially sighted people. He lives in London. term of office, Tony was elected as Chair of RNIB Cymru (Wales). He was re-elected to this position for a second term in 2013. l Mike Townsend (1 of 1) Tony is also Chair of RNIB’s Inclusive Reading, TV and Technology Mike has a long standing association with RNIB governance, having Programme Board. Professionally, Tony is an experienced third previously chaired many of RNIB’s committees and programme sector and higher education Board level executive, and has held boards. Having completed three terms of office, he stepped down several government advisory roles. He has also worked for KPMG as a Trustee for a year on 31 December 2011 in line with the and in private consulting. A trained mentor and business coach, requirements of RNIB’s Royal Charter. He was elected back onto Tony lives with his family in Cardiff and is registered blind. the Board by the UK Members’ Forum on 1 January 2013. With a background in technology, Mike has worked as a technical director l Paul Ryb (6 of 6) and consultant and is president of the British Computer Association Paul is in his first term of office as a Trustee, having been for the Blind. Mike lost his sight at the age of eight. He is married, appointed to the Board in 2011. He was Managing Director at with a daughter, and lives in Leicestershire. the Royal Bank of Scotland operating within the Global, Banking and Markets Division having previously worked in the City of London for a number of investment banks specialising in the Independent members of the Audit Committee equity telecommunications market. Since losing his central vision l Nick Goddard in 2007, he has become involved in a number of sight loss charities l Frances Teague 121 122 UK Members’ Forum Our UK Members’ Forum gives us a closer rapport with our membership. The forum is a place for membership representatives to come together and discuss the issues of importance to them. These issues then go forward to the Board of Trustees. It gives our members a direct link to RNIB’s most senior governing body and helps identify and shape major strategy, policy and service issues. The UK Members’ Forum meets twice a year (one meeting includes the Annual General Meeting). It is supported by local member forums – nine in England, one in Northern Ireland, one in Scotland and one in Wales. As well as enabling our members to have a direct role in shaping our strategy, the UK Members’ Forum increases opportunities for interaction between members at a local and national level. All members are invited to the forum meeting in their region or country, and each forum chooses its representatives to the UK Members’ Forum.
UK Members’ Forum Representatives South East London East Midlands l Timothy Bamber (from January 2013) l Maggy Bower l Gordon Chandler (from January 2013) l Kevin Deacon l Elizabeth Cooke l Sophia Chandler l Brian Payne l Ian Jentle l Gena Parker (from January 2013) l Jane Payne (until December 2012) l John Thomas (until December 2012) l Dr Mike Townsend (until December 2012) l Mike Pearson (from January 2013) l Jackie Venus (from April 2013) West Midlands l Michael Radford (until December 2012) East of England l Mohammed Abbas-Rashid South West l Michael Cassidy (from January 2013) l Michael Dyke (until December 2012) l Marian Knights l Bhanumati Dabhi (until December 2012) l Marie Freeman l Marion Mansfield l Michael Hughes l Helen Anne Mathias l Alexander Wheen (until September 2012) l Patricia Mulqueen-Wood l John Vickery l Mark Williams Yorkshire and the Humber Wales l Donald Baron (until December 2012) l Peter O’Driscoll l David Haynes (from March 2013) l Chris Malone (until August 2012) l Jacki Proctor l Frances (Faye) Jones MBE l Roy Ruddick BEM (from March 2013) l Robert Teague l Barbara Stephenson l Peter Westwood (until August 2012) Scotland l Amanda Burt (from January 2013) North West l Margaret Cowie (until December 2012) l Michael Allen l Rod Murchison (from January 2013) l Anne Bradbury l Hussein Patwa l Hayley Anne Reed (from April 2013) l David McKerral (until December 2012) l Anne Rigby l Sandra Wilson
North East Northern Ireland l Peter Bennetts (from January 2013) l David Mann l Lisa Charlton MBE (until December 2012) l Paula Meenan l Jillian Grant l Alan Owens l Claire Parker (from January 2013 to l Karen Young-O’Neill (from January 2013) March 2013) l Robert Potter l Denise Ross (until December 2012)
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