The 100Th Annual Report of the Council of Blind Veterans UK (Formerly St Dunstan’S) Year Ended 31St March 2015

The 100th Annual Report of the Council of Blind Veterans UK (formerly St Dunstan’s) Year ended 31st March 2015

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About Blind Veterans UK

For 100 years, Blind Veterans UK has helped ex-Service men and women discover life beyond sight loss. No matter how long they served or what caused their sight loss, we provide blind veterans – known as our members – with the training, services and lifelong support they need to lead full lives that are as independent as possible. Since 1915, when we were founded as St Dunstan’s, we have been committed to ensuring that no one who has served our country should battle blindness alone.

Contents

Chairman’s foreword to the annual report and financial statements 2014/15 4

Chief Executive’s introduction to the annual report and financial statements 2014/15 5

Report of the Blind Veterans UK Council 6

Financial responsibilities of the Blind Veterans UK Council 26

Independent auditor’s report to the members and trustees of Blind Veterans UK 31

Consolidated statement of financial activities for the year ended 31 March 2015 33

Balance sheet as at 31 March 2015 34

Consolidated cashflow statement for the year ended 31 March 2015 35

Notes to the accounts 37

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Chairman’s foreword to the annual report and financial statements 2014/15

When Sir Arthur Pearson founded a charity to help the blind veterans returning from World War I, he simply could not have predicted that this charity would still be pursuing his vision 100 years later. Nor, I expect, could he have guessed that during those 100 years, the charity would go on to help more than 35,000 blind veterans and their families. And he certainly could never have imagined the charity would in many respects be bigger than it’s ever been 100 years on, reaching out to more blind veterans than ever before with an ever-growing range of services.

But as this annual report shows, Blind Veterans UK is currently doing exactly that. More than 100 years on from its foundation on 29 January 1915 (initially as the Blinded Soldiers and Sailors Care Committee before becoming St Dunstan’s just months later), the charity is reporting its most successful year ever for recruiting new members for whom we provide support to the end of their lives. We are also reporting a record year for our fundraising work, record growth in awareness of the charity, significant growth in volunteer numbers and an impressive expansion in the range and accessibility of our services for members. This fundraising performance has been achieved following the values and ethos of Blind Veterans UK and in accordance with the best practice guidelines of both the Fundraising Standards Board and the Institute of Fundraising.

I would like to offer my wholehearted thanks to the staff and volunteers of Blind Veterans UK for their commitment, courage and resourcefulness in delivering these historic achievements.

I would also like to congratulate our new chief executive, Major General (Rtd) Nick Caplin, on his early work with the charity. Since joining Blind Veterans UK in October 2014, Nick has quickly become a keen champion of the charity’s vital work, especially its drive to reach more veterans in need of our help. He’s also been instrumental in finding ways for the charity to provide more veterans with our first-class care and support, largely within our existing infrastructure.

Of course, Nick is only beginning his work as our chief executive, and he has much ahead of him, including a new strategic review. I’m confident that this important piece of work will shape the direction for the charity to 2020 and beyond and ensure that the support given by Blind Veterans UK continues to evolve as we enter our second century of service.

Sir Arthur Pearson would be very proud.

Timothy Davis Chairman Blind Veterans UK

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Chairman’s foreword to the annual report and financial Chief executive’s introduction to the annual report and financial statements 2014/15 statements 2014/15

When Sir Arthur Pearson founded a charity to help the blind veterans returning from World I am delighted to welcome you to the 100th annual report of the Council of Blind Veterans UK. War I, he simply could not have predicted that this charity would still be pursuing his vision This delight stems not only from the fact this report is published in the year that marks the 100 years later. Nor, I expect, could he have guessed that during those 100 years, the charity 100th anniversary of our charity’s foundation in 1915, but also from the wealth of outstanding would go on to help more than 35,000 blind veterans and their families. And he certainly could achievements you will find listed in the pages that follow. never have imagined the charity would in many respects be bigger than it’s ever been 100 years on, reaching out to more blind veterans than ever before with an ever-growing range of Chief among these is our successful recruitment of 854 new members in 2014/15 – the services. highest annual intake in our charity’s 100-year history. This achievement is the result of a lot of work from many people, both inside and outside of Blind Veterans UK: from our staff and But as this annual report shows, Blind Veterans UK is currently doing exactly that. More than volunteers who have helped spread the word about us and our No One Alone campaign, to 100 years on from its foundation on 29 January 1915 (initially as the Blinded Soldiers and the many organisations and individuals who have referred veterans to us. I can think of no Sailors Care Committee before becoming St Dunstan’s just months later), the charity is better way to mark our charity’s centenary than by reporting we are successfully reaching out reporting its most successful year ever for recruiting new members for whom we provide to more blind veterans than ever before. support to the end of their lives. We are also reporting a record year for our fundraising work, record growth in awareness of the charity, significant growth in volunteer numbers and an The growth of our membership base has been matched by some impressive developments in impressive expansion in the range and accessibility of our services for members. This our core services. In particular, our successful work on our Community Outreach pilot projects fundraising performance has been achieved following the values and ethos of Blind Veterans has paved the way for the development of more community ‘hubs’ in the next few years, UK and in accordance with the best practice guidelines of both the Fundraising Standards which will help make our services more accessible to veterans. Ultimately, this will continue Board and the Institute of Fundraising. Blind Veterans UK’s growth and development as a national charity, with a footprint across the UK. I would like to offer my wholehearted thanks to the staff and volunteers of Blind Veterans UK for their commitment, courage and resourcefulness in delivering these historic achievements. Other highlights of 2014/15 have included our continued growth in volunteers (pages 21–22), and our fundraising enjoying its most successful year ever (pages 19–21). The charity I would also like to congratulate our new chief executive, Major General (Rtd) Nick Caplin, on successfully generated £20.7 million in gross voluntary income, with major wins in the year his early work with the charity. Since joining Blind Veterans UK in October 2014, Nick has including a £1.25 million grant from the Armed Forces Covenant Fund and the development quickly become a keen champion of the charity’s vital work, especially its drive to reach more of three major national corporate partnerships. The public profile of Blind Veterans UK has veterans in need of our help. He’s also been instrumental in finding ways for the charity to also consistently grown in 2014/15, with the charity making the most of our centenary to provide more veterans with our first-class care and support, largely within our existing successfully raise awareness of and support for our work. infrastructure. I feel truly privileged and immensely proud to be chief executive of Blind Veterans UK at this Of course, Nick is only beginning his work as our chief executive, and he has much ahead of very special time in the charity’s history, and I am extremely grateful to all our staff and him, including a new strategic review. I’m confident that this important piece of work will shape volunteers for their extraordinary efforts during the past year. the direction for the charity to 2020 and beyond and ensure that the support given by Blind Veterans UK continues to evolve as we enter our second century of service. I am also very excited by the work that lies ahead for the charity, as we continue to grow the number of veterans and families we help, increase the effectiveness and efficiency of our vital Sir Arthur Pearson would be very proud. work and further build our supporter base. Above all, we will continue to build on what Sir Arthur Pearson so brilliantly began and ensure that no one who has served our country has to battle blindness alone.

Timothy Davis Chairman Blind Veterans UK Major General (Rtd) Nick Caplin CB Chief Executive Blind Veterans UK

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Report of the Blind Veterans UK Council

Strategic report

Each year Blind Veterans UK’s trustees review the charity’s objectives and activities to ensure that they are consistent with its aims. In accordance with section 17 of the Charities Act 2011, the trustees have considered the Charity Commission guidance on public benefit in reviewing the charity’s goals, objectives and activities.

Our vision and strategy

The charity’s objects allow us to provide for the medical or surgical treatment, re-education, training in one or more trades, settlement and permanent welfare of members or former members of the Armed Forces, both men and women, blinded from whatever cause, whether or not connected in any way with service in the Armed Forces.

Vision

No one who has served our country should have to battle blindness alone.

Mission

All blind veterans should have access to the finest quality services to help them discover life beyond sight loss.

Values

• We’re courageous

It takes courage to go through life as a blind veteran. We want to reflect our beneficiaries’ approach to life in our own attitudes and our brave decisions.

• We’re committed

Our beneficiaries are with us for life. We commit ourselves to helping them prosper, and we want to inspire commitment in our supporters too.

• We’re collaborative

At Blind Veterans UK, we get the best results when we form active partnerships to achieve our vision. We collaborate with our beneficiaries and between departments. We also build partnerships with people and organisations who can give us their support.

• We’re resourceful

Our time, facilities and funding are all limited, so we always look for ways to use them well. We have the biggest impact when we use our resources intelligently and effectively. We keep in mind that our money is only given to us by donors to help us support blind veterans.

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Report of the Blind Veterans UK Council Key priorities

Strategic report These are our charity’s priorities. We reflect them all in our management plans, and they will shape our direction in 2015/16 and beyond. Each year Blind Veterans UK’s trustees review the charity’s objectives and activities to ensure that they are consistent with its aims. In accordance with section 17 of the Charities Act 2011, • Increase memberships and admissions the trustees have considered the Charity Commission guidance on public benefit in reviewing the charity’s goals, objectives and activities. Improve people’s awareness of what we do to continue the increase in referrals.

• Achieve financial stability Our vision and strategy Meet our financial projections.

The charity’s objects allow us to provide for the medical or surgical treatment, re-education, • training in one or more trades, settlement and permanent welfare of members or former Measure outcomes members of the Armed Forces, both men and women, blinded from whatever cause, whether or not connected in any way with service in the Armed Forces. Evaluate the impact that our services have on the lives of our members to ensure they meet their needs.

Vision • Offer a cohesive range of services

No one who has served our country should have to battle blindness alone. Share best practice throughout the organisation and explore ways of making services

available at locations convenient to the greatest number of members. Mission • Live the brand All blind veterans should have access to the finest quality services to help them discover life beyond sight loss. Continually ensure that the Blind Veterans UK brand is deep-rooted and positive.

Values • Improve staff engagement • We’re courageous Use survey results to focus on the areas that need most attention. It takes courage to go through life as a blind veteran. We want to reflect our beneficiaries’ approach to life in our own attitudes and our brave decisions. • Ensure best value from volunteering

• We’re committed Continue the recruitment of volunteers and ensure that they are able to contribute effectively to the provision and development of services. Our beneficiaries are with us for life. We commit ourselves to helping them prosper, and we want to inspire commitment in our supporters too.

• We’re collaborative

• We’re resourceful

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Our main charitable activities

We perform a very broad range of different activities which our trustees agree provide public benefit.

Our activities cover four main areas: help and training for independent living; care centres; welfare services, including our community-based services; and housing.

Help and training for independent living

This is the core of what we do: helping our members accept and adapt to their sight loss so they can lead as fulfilling a life as possible, whatever their circumstances.

Assessment and training

Over the past year, our rehabilitation and training teams have assessed and trained 1,251 members of the charity at our centres and undertaken more than 800 visits to members in their own homes. This assessment and training concentrates on helping people learn to live independently. We assess people’s vision loss, communication skills, independent living skills, mobility needs and technology skills. We also assess the opportunities they have for sport, recreation activities, arts and crafts. If someone has a need, we will offer them appropriate equipment or tailored training.

We reached our targets for the number of residential and assessment weeks at our centres, with a total of 62 introductory assessment weeks taking place at our Brighton, Llandudno and Sheffield centres.

This year, we introduced a new initiative aimed at extending our reach into local community settings. The Community Outreach project, launched in April 2014, has been particularly focused on delivering support to those members unable to attend one of our three centres for an Introductory Week, rehabilitation advice and support and training. Pilot projects began in the South West of England in June 2014 and the North East in September 2014. To date, members in these areas have benefitted from the Community Outreach project through a rehabilitation and training home visit, home-based IT training, volunteer support in the community or other community-led activity. We are now assessing how best to roll these services out to members around the country.

During the past 12 months, we have significantly extended the number, range and scope of theme weeks (each focused on a specific sport, hobby or interest for the benefit of members), held at our three centres.

New members

Over the past 12 months, we have welcomed 854 new members into the charity. For the third year in a row, we have exceeded the highest number of admissions in a single year since the charity was established in 1915.

Whilst the number of individuals being referred to us will be delayed and reduced by welcome improvements to drug treatments (particularly for those diagnosed with wet macular degeneration), we know there are still significant numbers of individuals who are eligible for

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Our main charitable activities our support. Therefore, our No One Alone campaign will continue to raise awareness of the charity and develop our member recruitment programme.

We perform a very broad range of different activities which our trustees agree provide public To improve knowledge of Blind Veterans UK and the support we offer, and to increase our benefit. level of referrals, the No One Alone campaign team, along with colleagues in the Admissions

team, works closely with a number of partners. These include NHS ophthalmic services Our activities cover four main areas: help and training for independent living; care centres; (including eye clinic liaison officers), local authorities, other charities within the vision welfare services, including our community-based services; and housing. impairment sector, blind societies and clubs, and other members of the ophthalmic community

throughout the UK. Help and training for independent living We continue to work with the Defence Medical Rehabilitation Centre at Headley Court. We This is the core of what we do: helping our members accept and adapt to their sight loss so help the centre support injured Service personnel and their families so they understand vision they can lead as fulfilling a life as possible, whatever their circumstances. impairment better, even when the eye injury sustained means an individual will not qualify for our long-term help. Thankfully, due to withdrawal from Afghanistan, our number of new Assessment and training members referred as a consequence of injuries sustained whilst serving has declined.

Over the past year, our rehabilitation and training teams have assessed and trained 1,251 Sport and recreation members of the charity at our centres and undertaken more than 800 visits to members in their own homes. This assessment and training concentrates on helping people learn to live Brighton: Over the past year, the Brighton centre’s sport and recreation work, (which is independently. We assess people’s vision loss, communication skills, independent living provided by an expanded Activities team), has continued to focus on involving more members skills, mobility needs and technology skills. We also assess the opportunities they have for and offering an even more varied programme of activities that are accessible to all. For sport, recreation activities, arts and crafts. If someone has a need, we will offer them adrenaline-seeking members, opportunities included skiing, driving various vehicles (including appropriate equipment or tailored training. hovercrafts and quad bikes), clay pigeon shooting and axe throwing. Members also participated in Sussex Walking Week, a health and fitness week for beginners, a get fit for life We reached our targets for the number of residential and assessment weeks at our centres, week (targeted at older members who want to improve their level of activity) and a 100- with a total of 62 introductory assessment weeks taking place at our Brighton, Llandudno and kilometre walk following the South Downs Way, which was held to celebrate the charity’s Sheffield centres. centenary.

This year, we introduced a new initiative aimed at extending our reach into local community The gym and swimming pool have been busier than ever. A large group of residents and daily settings. The Community Outreach project, launched in April 2014, has been particularly attendees at the Brighton centre exercised in the gym daily to improve their mobility and focused on delivering support to those members unable to attend one of our three centres for general wellbeing. Swimming pool opening hours were extended, which has raised the an Introductory Week, rehabilitation advice and support and training. Pilot projects began in numbers accessing the facilities. the South West of England in June 2014 and the North East in September 2014. To date, members in these areas have benefitted from the Community Outreach project through a The members’ archery, rifle and bowls clubs maintained a good following. The clubs held rehabilitation and training home visit, home-based IT training, volunteer support in the various in-house competitions and, with the support of staff and volunteers, challenged their community or other community-led activity. We are now assessing how best to roll these skills against external clubs. services out to members around the country. At the centre, we also offered short mat bowls, weekly chair-based exercise classes and During the past 12 months, we have significantly extended the number, range and scope of swimming lessons. The swimming lessons were very popular, and we are looking to continue theme weeks (each focused on a specific sport, hobby or interest for the benefit of members), to offer this one-to-one support for those who require it. There was also a focus on what we held at our three centres. can now offer those members who find it difficult to access the gym or pool facilities, particularly those members who are staying on the nursing or residential care floors. New members Llandudno: During 2014/15, the Llandudno centre’s sport and recreation work, which is part Over the past 12 months, we have welcomed 854 new members into the charity. For the third of the Activities team’s work at the centre, has continued to offer a challenging and fun range year in a row, we have exceeded the highest number of admissions in a single year since the of inclusive themed weeks for our members. charity was established in 1915. Activities for the adventurous ranged from rock climbing, mountain walking and white water Whilst the number of individuals being referred to us will be delayed and reduced by welcome rafting, to caving, coasteering and hurtling down the longest zip wire in the northern improvements to drug treatments (particularly for those diagnosed with wet macular hemisphere. For those who prefer things a little more sedate, involvement opportunities degeneration), we know there are still significant numbers of individuals who are eligible for included walking, photography, potting and planting, a recreation taster week and the very popular military week, which incorporates Remembrance Sunday. Other highlights included a

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skydive experience in Manchester, a high ropes adventure course in North Wales and skiing with Disability Sports UK.

As part of our cycling week, we visited the National Cycling Centre in Manchester. In its velodrome, members experienced track tandem riding with pilots who work with the Great Britain Cycling Team.

Following the introduction of new resistance equipment, we have seen an increase in gym usage by members, and particularly by those who have physical concerns other than their sight loss.

Overall, members are increasingly focusing on their general health, which has led to the charity providing more support and advice in this area. In particular, we have provided more home fitness equipment to improve independent living; for example, we have facilitated strengthening exercises to help members walk to the shops or get up out of a chair.

We continue to promote and develop onsite clubs at the Llandudno centre, which led to the establishing of an archery club. The next big step is to develop a climbing club.

Members’ health and wellbeing has also been the focus of the Activities team this year, with the centre offering yoga, alternative therapies, massage, relaxation and mindfulness techniques, and advice on how to make healthy natural drinks.

Art and crafts

We have thriving art and crafts workshops at our Brighton and Llandudno centres. This year, the number of members benefitting from art and crafts activities has increased. This included members who stayed on holiday at a centre and those who visited on a respite break.

Brighton: Our Art Cart project at Brighton took art and crafts activities out and about to the nursing floor and lounge, allowing members who are unable to visit the workshop to benefit from creative activities.

Training in an art and crafts activity is usually provided one-to-one; however, this year we ran three trial trainee weeks in which up to six members trained in a subject together. This reduced waiting times for training and allowed trainees to meet likeminded people, share their enthusiasm for their craft and socialise together in their free time.

During the year, the Brighton art and crafts workshop forged new partnerships and worked on projects with photographers from the London College of Fashion, Brighton Toy and Model Museum, the Regency Town House project and Brighton Museum & Art Gallery.

The workshop took part in Artwave, a visual arts festival for the Lewes district. This involved opening the chapel at the Brighton centre for three weekends to showcase an interactive exhibition of toys and games made by our members.

In addition, three members completed paintings for the walls of the chief executive and chairman’s offices at our headquarters in London. Members produced rocking horses for the Fundraising department to auction at events. Two of our instructors designed and built a World War I memorial for the inner garden at the Brighton centre. This has now been registered as an official memorial, which means members who are unable to travel can take part in Remembrance services at the centre.

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skydive experience in Manchester, a high ropes adventure course in North Wales and skiing with Disability Sports UK. Llandudno: The Llandudno Art and crafts department was selected to join in the Gwanwyn Festival, which is supported by the Welsh Government and Arts Council Wales. The event is As part of our cycling week, we visited the National Cycling Centre in Manchester. In its a month-long national festival that celebrates creativity in older age. velodrome, members experienced track tandem riding with pilots who work with the Great Britain Cycling Team. Members who share an interest in wood had the chance to participate in workshops with the North Wales Carvers Association and improve their practical skills at the Woodland Skills Following the introduction of new resistance equipment, we have seen an increase in gym Centre in Denbighshire. The projects created by the members will be displayed at next year’s usage by members, and particularly by those who have physical concerns other than their Woodfest, which has an impressive reputation as Britain’s premier wood carving festival. sight loss. In addition, the Art and crafts department started to explore the benefits of group training, Overall, members are increasingly focusing on their general health, which has led to the with groups of members learning the same techniques together. This idea stemmed from a charity providing more support and advice in this area. In particular, we have provided more desire to shorten the waiting times for training, as well wanting to help members share home fitness equipment to improve independent living; for example, we have facilitated knowledge and support each other through the learning process. After a number of successful strengthening exercises to help members walk to the shops or get up out of a chair. pilot sessions, the group training initiative was taken forward throughout the year.

We continue to promote and develop onsite clubs at the Llandudno centre, which led to the We also welcomed a range of new volunteers who have a wide set of skills and experience. establishing of an archery club. The next big step is to develop a climbing club. They have greatly enhanced the delivery of art and crafts activities at the centre.

Members’ health and wellbeing has also been the focus of the Activities team this year, with In 2014/15, we planned to: the centre offering yoga, alternative therapies, massage, relaxation and mindfulness techniques, and advice on how to make healthy natural drinks. • Recruit a minimum of 700 new members. • Deliver 59 introductory assessment weeks: 25 at Brighton, 22 at Llandudno and 12 at Art and crafts Sheffield. • Offer 850 training places across our three centres. We have thriving art and crafts workshops at our Brighton and Llandudno centres. This year, • Provide an appropriate number of rehabilitation and training home visits to meet the the number of members benefitting from art and crafts activities has increased. This included needs of those members unable to access training or support through the centres. members who stayed on holiday at a centre and those who visited on a respite break. • Develop a Community Outreach service through the development of two pilot projects in the South West and North East, offering access and support to members who may Brighton: Our Art Cart project at Brighton took art and crafts activities out and about to the struggle to attend a centre. nursing floor and lounge, allowing members who are unable to visit the workshop to benefit from creative activities. In 2014/15, we:

Training in an art and crafts activity is usually provided one-to-one; however, this year we ran • Recruited 854 new members. three trial trainee weeks in which up to six members trained in a subject together. This • Delivered a total of 62 introductory assessment weeks: 28 at Brighton, 22 at Llandudno reduced waiting times for training and allowed trainees to meet likeminded people, share their and 12 at Sheffield. enthusiasm for their craft and socialise together in their free time. • Offered over 1,000 training places at our three centres.

• Undertook 803 home visits by rehabilitation officers for vision impairment (ROVIs) and IT During the year, the Brighton art and crafts workshop forged new partnerships and worked on instructors. projects with photographers from the London College of Fashion, Brighton Toy and Model • Museum, the Regency Town House project and Brighton Museum & Art Gallery. Invested in and commenced two Community Outreach projects, which has enabled 100 individual members to access support in their local community. The workshop took part in Artwave, a visual arts festival for the Lewes district. This involved opening the chapel at the Brighton centre for three weekends to showcase an interactive In 2015/16, we plan to: exhibition of toys and games made by our members. • Recruit a minimum of 850 new members, with a stretch target of 950. In addition, three members completed paintings for the walls of the chief executive and • Deliver a minimum of 70 introductory assessment weeks. chairman’s offices at our headquarters in London. Members produced rocking horses for the • Offer at least 1,000 training centre places at our centres. Fundraising department to auction at events. Two of our instructors designed and built a • Consolidate the learning from our two Community Outreach projects in 2014/15 to World War I memorial for the inner garden at the Brighton centre. This has now been prepare for the launch of up to four more regionally based Community Outreach projects registered as an official memorial, which means members who are unable to travel can take in 2016/17. part in Remembrance services at the centre.

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• Implement and develop training programmes centred on technology skills to increase the chances of younger members gaining employment or being accepted on to a vocational training programme.

Care centre activities

Nursing and social care

The high-quality nursing and residential care we provide at our Brighton and Llandudno centres is fundamental to the charity’s work for its most vulnerable members. This includes lifetime nursing or residential care placements at our Brighton centre, if a member needs it.

We also offer short-term care for respite breaks and holidays at Brighton and Llandudno. Members can also attend introductory weeks at both centres and receive training, safe in the knowledge that we will provide all the support they need to participate.

The modernisation and refurbishment of our facilities at our Brighton centre continues, including the completion of the rebuilding of the second wing of the permanent residential floor. This enables us to offer an enhanced level of support to our residents, many of whom are frail, older people who have a very wide range of care needs. In addition, the continuing upgrade of our holiday facilities will enable the charity to offer all ‘holiday makers’ rooms that meet their needs and our high standards.

Work on our bathroom facilities at the Llandudno centre have largely been completed, ensuring we have walk-in facilities that meet the needs of all of our members.

In 2014/15, we planned to:

• Provide 104 weeks of residential respite care and 104 weeks of nursing respite care at Brighton and 394 weeks of residential and 75 weeks of nursing respite at Llandudno. • Complete the second phase of the total refurbishment of the first floor residential rooms at Brighton, to provide a further seven fully accessible rooms with en-suite facilities. • Convert a further four of the en-suite bathrooms on the first floor fuselage in the Brighton centre into wet room facilities, providing level access for members. • Complete the refurbishment of a further two bathrooms at the Llandudno centre to wet rooms. • Devise and implement a competency framework for all of the registered nurses at Brighton and Llandudno, to ensure they are fully trained and able to undertake all the requirements of their role.

In 2014/15, we:

• Provided 212 weeks of residential respite care and 66 weeks of nursing respite care at Brighton. Figures for respite nursing were lower than anticipated, as a higher percentage of beds were filled by permanent nursing care patients. • Provided 520 weeks of residential respite care at Llandudno and 66 weeks of nursing care. • Completed the second phase of the total refurbishment of the first floor residential rooms at Brighton, providing a further seven fully accessible rooms with en-suite facilities. • Converted a further four of the en-suite bathrooms on the first floor fuselage in the Brighton centre into wet room facilities, providing level access for members.

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• Implement and develop training programmes centred on technology skills to increase the • Completed the refurbishment of five bathrooms at our Llandudno centre. chances of younger members gaining employment or being accepted on to a vocational • Devised and implemented a competency framework for all 16 of the registered nurses at training programme. Brighton and Llandudno, to ensure that they are fully trained, up to date with current practice standards and able to undertake all the requirements of their role. Care centre activities In 2015/16, we plan to: Nursing and social care • Improve the utilisation of centre-based care services by optimising the occupation of The high-quality nursing and residential care we provide at our Brighton and Llandudno rooms with an overall occupancy rate of 72 per cent set to take account of respite and centres is fundamental to the charity’s work for its most vulnerable members. This includes holiday turnover. lifetime nursing or residential care placements at our Brighton centre, if a member needs it. • Commence a phased refurbishment of seven rooms on the second floor of the Brighton centre. They will feature walk-in showers that are suitable for residential and holiday We also offer short-term care for respite breaks and holidays at Brighton and Llandudno. accommodation. Members can also attend introductory weeks at both centres and receive training, safe in the • Implement the changes dictated by the Care Act 2014, which has largely been in force knowledge that we will provide all the support they need to participate. from 1 April 2015. The Act requires new staff to undertake the Care Certificate during their induction period, to ensure staff are trained and competent to deliver an appropriate care The modernisation and refurbishment of our facilities at our Brighton centre continues, service. including the completion of the rebuilding of the second wing of the permanent residential • Ensure that our services meet all the standards, requirements and expectations of the two floor. This enables us to offer an enhanced level of support to our residents, many of whom regulatory bodies responsible for reviewing and inspecting our care services at Brighton are frail, older people who have a very wide range of care needs. In addition, the continuing and Llandudno: the Care Quality Commission (England) and the Care and Social upgrade of our holiday facilities will enable the charity to offer all ‘holiday makers’ rooms that Services Inspectorate Wales (CSSIW). meet their needs and our high standards. • Undertake a review of nursing provision at our Llandudno centre and produce a report detailing recommendations on how the service should be shaped for the future. Work on our bathroom facilities at the Llandudno centre have largely been completed, • Continuously review our care service to ensure it delivers what members require and ensuring we have walk-in facilities that meet the needs of all of our members. makes appropriate use of the charity’s available resources.

In 2014/15, we planned to: Centre-based services

• Provide 104 weeks of residential respite care and 104 weeks of nursing respite care at Our three centres in Brighton, Llandudno and Sheffield offer a wide range of services and Brighton and 394 weeks of residential and 75 weeks of nursing respite at Llandudno. activities to help members and other beneficiaries keep or regain a level of independence that • Complete the second phase of the total refurbishment of the first floor residential rooms at suits their circumstances. Brighton, to provide a further seven fully accessible rooms with en-suite facilities. • Convert a further four of the en-suite bathrooms on the first floor fuselage in the Brighton In 2014/15 our transport fleet, which has drivers based at all three centres, covered 714,411 centre into wet room facilities, providing level access for members. miles, transporting 41,632 passengers to our centres. This is more than 2,000 extra • Complete the refurbishment of a further two bathrooms at the Llandudno centre to wet passengers compared to 2013/14. rooms. • Devise and implement a competency framework for all of the registered nurses at Brighton Brighton and Llandudno, to ensure they are fully trained and able to undertake all the requirements of their role. Our Brighton centre provides a wide range of services to suit all members’ interests and abilities. These include an extensive range of rehabilitation and training programmes, In 2014/15, we: holidays, themed weeks and activities (art and crafts, sports and recreation, etc). In addition, we offer permanent residential and nursing care and short-term respite care. Our Care • Provided 212 weeks of residential respite care and 66 weeks of nursing respite care at department strives to ensure all members are able to participate in all of our activities. Brighton. Figures for respite nursing were lower than anticipated, as a higher percentage of beds were filled by permanent nursing care patients. With the help of our members, our in-house activities and events programme has continued to • Provided 520 weeks of residential respite care at Llandudno and 66 weeks of nursing flourish. We started renovating our inner garden at Brighton and installed a World War I care. memorial water feature that was designed and built by our members and Art and crafts team. • Completed the second phase of the total refurbishment of the first floor residential rooms at Brighton, providing a further seven fully accessible rooms with en-suite facilities. For holiday makers staying at our Brighton centre, we have increased our range of trips to • Converted a further four of the en-suite bathrooms on the first floor fuselage in the meet a wider range of interests. This has involved forging links with new venues and actively Brighton centre into wet room facilities, providing level access for members. building relationships with other local attractions, ensuring we have plenty to offer. In addition,

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we have reached the half-way point on a three-year improvement programme to modernise and update our holiday rooms. This will offer our members better facilities and greater comfort.

Because of an increase of members and visitors coming to the centre, and a growing team of volunteers, the Brighton centre was a vibrant and energetic environment for all who visited it in the past year.

Llandudno

Our Llandudno centre is primarily a rehabilitation and training centre. However, it also offers holidays and extensive themed and interest weeks, as well as short-term nursing and residential care that ensures members receive the level of support they need.

Llandudno remains a popular holiday destination with our members. In response to their feedback, we have completed work to improve the range of in-house activities at the centre. This included a review and revamp of its evening entertainment programme, the delivery of a broader range of art and crafts activities, and further development of the menu of themed and activity weeks held there.

In addition, the centre now features our centenary woodland garden, which provides a safe, accessible and sensory-rich environment in which members can walk or simply sit and reconnect with nature. A project three years in the making, and delivered largely through voluntary effort, the woodland garden serves as a symbol to the tremendous value of the growing and dedicated community of volunteers who support our work.

Sheffield

Our smallest centre, Sheffield offers a range of rehabilitation and training services, with a particular emphasis on information technology. It also hosts a small number of theme week events during the year. Members particularly value the centre because of its homely and welcoming feel.

In 2014/15, we started to offer a series of group IT training opportunities for our members. Previously, this type of training was offered as a one-to-one activity. The group sessions have been particularly beneficial because more training time is available for members and participants have the opportunity to benefit from mutual support.

The IT instructors at our Sheffield centre were given the opportunity to work with the vision- impaired IT specialist Dolphin. Now accredited as Dolphin Supernova trainers, the instructors can provide advanced training to members who are experienced users of IT.

In recent years, a popular addition to our programme at Sheffield has been a series of themed weeks. These aim to help members learn new skills, discover new interests and simply have fun. Topics covered include photography, social networking, local history, Christmas crafts and culture weeks.

Our plan to add an additional training space and increase staff numbers, including the employment of a full-time fundraiser, will enable Sheffield to expand the type of services it offers and meet the needs of more members. Our expanding volunteer network will also play a key role in making this happen.

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we have reached the half-way point on a three-year improvement programme to modernise In the early part of 2015, the Sheffield centre celebrated its 10th anniversary since opening in and update our holiday rooms. This will offer our members better facilities and greater 2005. Attendees included the Mayor of Sheffield and several members who had trained at the comfort. centre over the previous decade.

Because of an increase of members and visitors coming to the centre, and a growing team of In 2014/15, we planned to: volunteers, the Brighton centre was a vibrant and energetic environment for all who visited it in the past year. • Implement agreed operational standards for rehabilitation and training services across our three centres. This would reduce the waiting time to two months for training in Llandudno independent living skills or IT. • Increase the overall utilisation of the centres so they reach a combined occupancy target Our Llandudno centre is primarily a rehabilitation and training centre. However, it also offers of 67 per cent. holidays and extensive themed and interest weeks, as well as short-term nursing and • Embed systems and practice across all three centres to enable the charity to successfully residential care that ensures members receive the level of support they need. achieve Investors in Volunteering in October 2014. • Complete the refurbishment of the first floor residential facilities at the Brighton centre. Llandudno remains a popular holiday destination with our members. In response to their • Complete phase one of the major investment in a sensory woodland walk at the feedback, we have completed work to improve the range of in-house activities at the centre. Llandudno centre. This included a review and revamp of its evening entertainment programme, the delivery of a • Re-tender the catering contracts across all three sites, in preparation for a start date of broader range of art and crafts activities, and further development of the menu of themed and April 2015. activity weeks held there. • Develop a plan for centres so they can handle up to 850 new member admissions in 2015/16 and 1,000 new members in 2016/17. In addition, the centre now features our centenary woodland garden, which provides a safe, accessible and sensory-rich environment in which members can walk or simply sit and reconnect with nature. A project three years in the making, and delivered largely through In 2014/15, we: voluntary effort, the woodland garden serves as a symbol to the tremendous value of the growing and dedicated community of volunteers who support our work. • Fully implemented operational standards for our rehabilitation and training services across all three centres. Sheffield • Commenced a full-scale development and change programme for our IT service, to ensure we have a consistent and fully developed service that can handle future Our smallest centre, Sheffield offers a range of rehabilitation and training services, with a challenges. particular emphasis on information technology. It also hosts a small number of theme week • Exceeded our combined occupancy target of 67 per cent. events during the year. Members particularly value the centre because of its homely and • Completed major works to deliver the final phase of the residential wing refurbishment welcoming feel. project at the Brighton centre. • Delivered on plans to redevelop overgrown woodland at Llandudno into a sensory garden In 2014/15, we started to offer a series of group IT training opportunities for our members. that is fully accessible to our members. Previously, this type of training was offered as a one-to-one activity. The group sessions have • Successfully re-tendered all of our catering contracts. been particularly beneficial because more training time is available for members and • Put in place robust plans so our centres will be able to meet the future demands placed participants have the opportunity to benefit from mutual support. on them as the overall number of members increases.

The IT instructors at our Sheffield centre were given the opportunity to work with the vision- impaired IT specialist Dolphin. Now accredited as Dolphin Supernova trainers, the instructors In 2015/16, we plan to: can provide advanced training to members who are experienced users of IT. • Develop our three centres’ infrastructure and workforce so they can cope with 850

member admissions in 2015/16 (with the potential to deal with 950) and 1,000 member In recent years, a popular addition to our programme at Sheffield has been a series of themed admissions in 2016/17. weeks. These aim to help members learn new skills, discover new interests and simply have • Undertake single site reviews of our catering services to ensure service level agreements fun. Topics covered include photography, social networking, local history, Christmas crafts are met and any shortfalls fully addressed. and culture weeks. • Initiate the planning, building and delivery of a new project at the Llandudno centre that Our plan to add an additional training space and increase staff numbers, including the aims to provide a support service to vulnerable members who may be at risk of employment of a full-time fundraiser, will enable Sheffield to expand the type of services it homelessness. offers and meet the needs of more members. Our expanding volunteer network will also play • Improve the facilities at our satellite unit at Port Hall (near to the Brighton centre), and a key role in making this happen. increase its overall occupancy by 25 per cent.

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• Develop and establish an art and crafts facility at our Sheffield centre, helping us to meet demand for art and crafts training. • Improve the average waiting time for members to access an introductory week or training to 12 weeks.

Welfare services

Each of our new members is assigned a professionally qualified welfare officer. They undertake a comprehensive assessment in the member’s home to assess their needs and establish what type of support is required and how it should be delivered. We offer support through area welfare officers who provide face-to-face support and welfare support officers who work on our phone-based support service. New members are normally offered a second home visit within six months of completing an introductory week at one of our centres.

In 2014/15, we planned to:

• Complete 80 percent of new member assessments within one month of admission. • Complete 6,300 welfare assessments. • Deliver a national seminar that involves all field-based staff. Develop the regional structure to ensure it meets the needs of multidisciplinary teams. • To complete our year-long Community Outreach pilot projects. Depending on the outcome, to review the management structure of the existing regional welfare service or a new combined community service. • To pilot and evaluate more flexible team working, including part time work, to help manage the increased workload. • Increase the area welfare staffing establishment, in line with membership targets, to ensure the level of service to each beneficiary is sustained. It is intended to increase the area welfare officer and welfare support officer posts by one each. • Establish an Implementation team to take forward the recommendations made by the King’s Centre for Military Health Research Study regarding the needs of younger members.

In 2014/15, we:

• Achieved our target of completing 80 per cent of new member assessments within one month of welfare officers receiving a member’s biographical profile. • Completed over 6,200 welfare assessments. • Delivered a national seminar with a range of external participants who provide services to the ex-military community, including the Veterans Agency (now Veterans UK). • Largely completed the planned initial phases of our Community Outreach project in the South West and North East, with a formal review led by our director of estates and planning recommending future expansion to our senior management team. • Developed a more flexible approach to respond to regional demands and pressures. • Developed and ran a total of 30 lunch and social clubs for members, with support from staff and volunteers. • Completed an initial phase of work on the outcomes of the King’s Centre for Military Health Research Study.

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• Develop and establish an art and crafts facility at our Sheffield centre, helping us to meet In 2015/16, we plan to: demand for art and crafts training. • Improve the average waiting time for members to access an introductory week or training • Meet our target of visiting 80 per cent of new members within one month of their referral to 12 weeks. to the charity, despite an anticipated increase in membership numbers. • To establish procedures and protocols for referrals to our Community Outreach projects

that fully establish future practice principles as more community ‘hubs’ are formed. Welfare services • To apply a new Outcomes Star process to help us track the impact of our work on the lives of members. Each of our new members is assigned a professionally qualified welfare officer. They • To increase the number of lunch and social clubs to 33, helping us to serve a diverse set undertake a comprehensive assessment in the member’s home to assess their needs and of communities throughout England, Wales, Scotland and Northern Ireland. establish what type of support is required and how it should be delivered. We offer support • Review and further consider the key recommendations of the King’s Centre for Military through area welfare officers who provide face-to-face support and welfare support officers Health Research Study into the needs and requirements of younger members, particularly who work on our phone-based support service. New members are normally offered a second in the areas of mental wellbeing and support, family counselling, employment and home visit within six months of completing an introductory week at one of our centres. education opportunities.

In 2014/15, we planned to: Housing provision

• Complete 80 percent of new member assessments within one month of admission. We provide properties for a minority of members and assist with the adaptation of homes • Complete 6,300 welfare assessments. owned by members. • Deliver a national seminar that involves all field-based staff. Develop the regional structure to ensure it meets the needs of multidisciplinary teams. Housing stock • To complete our year-long Community Outreach pilot projects. Depending on the outcome, to review the management structure of the existing regional welfare service or a We employ a small team of surveyors to keep our properties in good condition. We have 240 new combined community service. houses, flats and bungalows available for use by beneficiaries. • To pilot and evaluate more flexible team working, including part time work, to help manage the increased workload. Beneficiaries currently occupy 157 properties (three are vacant pending sale or letting) and • Increase the area welfare staffing establishment, in line with membership targets, to the remaining 80 are let out commercially and available for use when required. The Estates ensure the level of service to each beneficiary is sustained. It is intended to increase the team manages all property maintenance, organises property rentals and advises beneficiaries area welfare officer and welfare support officer posts by one each. on the availability of housing benefits. • Establish an Implementation team to take forward the recommendations made by the King’s Centre for Military Health Research Study regarding the needs of younger Home advice and adaptation members. Our surveyors give property advice to beneficiaries who live in their own homes, including In 2014/15, we: how to make modifications so they can live active, comfortable and independent lives, despite their sight loss, age or other disabilities. We frequently cover the whole or part of the cost of • Achieved our target of completing 80 per cent of new member assessments within one any works that are required, working in partnership with other charities and local authorities. month of welfare officers receiving a member’s biographical profile. • Completed over 6,200 welfare assessments. In 2014/2015, we planned to: • Delivered a national seminar with a range of external participants who provide services to the ex-military community, including the Veterans Agency (now Veterans UK). • Provide an efficient and responsive service to beneficiaries living in housing we provide. • Largely completed the planned initial phases of our Community Outreach project in the • Make an inspection visit to each property we own, to update and implement maintenance South West and North East, with a formal review led by our director of estates and plans. planning recommending future expansion to our senior management team. • Make at least 300 visits to beneficiaries in their own homes to give property advice. • Developed a more flexible approach to respond to regional demands and pressures. • Keep costs of any works at or below the current level without compromising service • Developed and ran a total of 30 lunch and social clubs for members, with support from standards. staff and volunteers. • Maintain occupancy at around the current high level of 98 per cent. • Completed an initial phase of work on the outcomes of the King’s Centre for Military Health Research Study. In 2014/2015, we:

• Provided an efficient and responsive service, including out-of-hours contact and support. • Visited all of our properties at least once to update and implement maintenance plans.

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• Made 410 visits to beneficiaries in their own homes to provide advice on property adaptations and maintenance. • Repaired and updated the properties we own so they continue to meet beneficiaries’ needs. • Maintained an average occupancy rate of at least 97 per cent for the properties we own. • Sold 18 properties that were no longer suitable for beneficiaries for gross receipts of more than £5.1 million (including two parcels of land, three investment properties and one property owned jointly with a member). • Purchased four properties for beneficiaries; (three to facilitate moves and one required to meet a new housing need).

In 2015/2016, we aim to:

• Provide an efficient and responsive service to beneficiaries living in housing we provide. • Make an inspection visit to each property we own, updating and implementing maintenance plans. • Make at least 400 visits to beneficiaries in their own homes to give property advice. • Keep the costs of works at or below the current level without compromising service standards. • Maintain occupancy at around the current level of 97 per cent. • When necessary, acquire properties to meet the housing needs of our beneficiaries.

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• Made 410 visits to beneficiaries in their own homes to provide advice on property Supporting charitable activities adaptations and maintenance. • Repaired and updated the properties we own so they continue to meet beneficiaries’ needs. Fundraising and communications • Maintained an average occupancy rate of at least 97 per cent for the properties we own. • Sold 18 properties that were no longer suitable for beneficiaries for gross receipts of more Gross voluntary income generation achieved its highest ever level for a single year at £20.7 than £5.1 million (including two parcels of land, three investment properties and one million. This was helped by several major successes, including a £1.25 million grant from the property owned jointly with a member). Armed Forces Covenant (LIBOR) Fund and the development of several corporate • Purchased four properties for beneficiaries; (three to facilitate moves and one required to partnerships and gaming fundraising streams. We continued to work alongside Specsavers meet a new housing need). and began new partnerships with AgustaWestland and The Monarch Foundation.

In 2015/2016, we aim to: Our marketing and communications work successfully built awareness of the Blind Veterans UK brand to record new levels in 2014/15, with the start of the charity’s 100th anniversary • Provide an efficient and responsive service to beneficiaries living in housing we provide. providing a platform for a wealth of new activities. Meanwhile, our No One Alone campaign • Make an inspection visit to each property we own, updating and implementing supported the successful recruitment of a record number of new veterans to the charity. maintenance plans. • Make at least 400 visits to beneficiaries in their own homes to give property advice. New supporters

• Keep the costs of works at or below the current level without compromising service We successfully recruited 27,079 new supporters, while fully adhering to the best practice standards. guidelines set by the Fundraising Standards Board and Institute of Fundraising, as well as our • Maintain occupancy at around the current level of 97 per cent. own additional ethical fundraising measures. This will help with our programme of donor • When necessary, acquire properties to meet the housing needs of our beneficiaries. cultivation and the development of legacy prospects.

Legacy income

Our legacy income increased to £11.7 million.

Our brand

Awareness of the Blind Veterans UK brand consistently grew, thanks to an extensive programme of marketing and communications activity. We secured widespread local and national TV and print coverage throughout the year, including the charity featuring in reports on BBC and ITV news programmes and Forces TV. We also featured in The Times, The Independent, Daily Mirror, Sunday Mirror, Daily Star and Metro.

Online, we featured in several articles on the Daily Mail’s website (the world’s most read English language news website), the BBC News website, as well as The Guardian’s and ITV News’ websites. Our advertising activity included print and digital advertising across such outlets as the Daily Mail, Mail on Sunday, The Times and The Telegraph.

We used the start of the charity’s centenary year to launch a year-long programme of marketing and communications events and activities to raise awareness of the charity. This was heralded by our centenary brand, which was designed to enhance Blind Veterans UK’s award-winning visual identity.

Highlights of our initial centenary activity included the public unveiling of our centenary plaques such as at our first location in London, our Story of Blind Veterans UK in 100 Objects online campaign; a special feature in Arsenal Football Club’s match programme; and PR coverage surrounding our centenary reunions, including an event in Newcastle attended by 100 members.

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We also began unveiling a series of happy birthday messages from high-profile supporters, with Sir Roger Moore, Barbara Windsor, Honor Blackman, Tony Robinson and Prime Minister David Cameron among the first contributors.

No One Alone

Launched in October 2012, our No One Alone campaign has significantly boosted our recruitment of new members. This has involved a comprehensive range of PR and marketing activities, participation in public events and the building of partnerships to develop and strengthen our referral network. In 2014/15, new activities included the launch of an e- newsletter for members of our network of referrers, increased involvement in Carers Week and Eye Health Week, and the establishing of a formal campaign partnership with Action for Blind People.

The campaign achieved a wealth of PR coverage throughout the year, including coverage in key healthcare publications such as Optometry Today, Optician, Care Industry News and Mature Times, as well as 71 military/regiment publications. No One Alone advertising also ran in Saga, Reader’s Digest and Yours magazines, as well as the annual of the Women’s Institute. While advertising in hospitals and on pharmacy bags (part funded by a Lottery grant) ran during Eye Health Week.

The campaign continued to develop its advocacy strand in 2014/15, with key activities including a cross-party parliamentary event attended by more than 30 MPs, including the parliamentary under secretary of state for public health. It also reached out to local authorities through the launch of a range of new marketing materials and communications aimed at sensory impairment teams and social services directors.

In 2014/15, we planned to:

• Raise £19.4 million in voluntary income. This includes core donations of £8.6 million (down 1.15 per cent) and legacies of £10.8 million (up 2 per cent). • Achieve a net return of 79 per cent on gross income. • Recruit 36,425 new supporters. • Achieve our first major fundraising partnership with a national corporate. • Increase national awareness of Blind Veterans UK to 20 per cent by March 2015. • Expand the No One Alone campaign to ensure the successful recruitment of at least 700 members.

In 2014/15, we:

• Raised £20.7 million in voluntary income. This included core donations of £9.0 million and legacies of £11.7 million. • Achieved a net return of 76 per cent on gross income. • Recruited 27,079 new supporters. • Achieved three new major national corporate partnerships. • Increased national awareness of Blind Veterans UK consistently, to reach an average of 23 per cent among our key target audiences (encompassing our core supporters, military audience and carers audience). • Achieved 2,799 PR reports and mentions in national/local press and media (up by 57 per cent from 2013/14).

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We also began unveiling a series of happy birthday messages from high-profile supporters, • Successfully developed the No One Alone campaign to support the recruitment of 854 with Sir Roger Moore, Barbara Windsor, Honor Blackman, Tony Robinson and Prime Minister new members (the highest annual recruitment number in the charity’s 100-year history). David Cameron among the first contributors. In 2015/16, we aim to: No One Alone • Raise £20.2 million in voluntary income. This includes core donations of £8.5 million and Launched in October 2012, our No One Alone campaign has significantly boosted our legacies of £11.8 million. recruitment of new members. This has involved a comprehensive range of PR and marketing • Achieve a net return of 77 per cent on gross income. activities, participation in public events and the building of partnerships to develop and • Recruit 25,000 new supporters, with an emphasis on committed giving. strengthen our referral network. In 2014/15, new activities included the launch of an e- • Steward existing corporate partnerships and develop new relationships. newsletter for members of our network of referrers, increased involvement in Carers Week • Launch a second 100k challenge event in the north of England. and Eye Health Week, and the establishing of a formal campaign partnership with Action for • Maintain national awareness of Blind Veterans UK above 20 per cent, with a continued Blind People. focus on building awareness and support within our key target audiences.

• Continue the No One Alone campaign to ensure we receive more than 1,550 application The campaign achieved a wealth of PR coverage throughout the year, including coverage in requests and recruit at least 850 new members. key healthcare publications such as Optometry Today, Optician, Care Industry News and

Mature Times, as well as 71 military/regiment publications. No One Alone advertising also ran in Saga, Reader’s Digest and Yours magazines, as well as the annual of the Women’s Employees and volunteers Institute. While advertising in hospitals and on pharmacy bags (part funded by a Lottery grant) ran during Eye Health Week. Developing potential

The campaign continued to develop its advocacy strand in 2014/15, with key activities Our employees’ and volunteers’ quality, enthusiasm, commitment and expertise are at the including a cross-party parliamentary event attended by more than 30 MPs, including the heart of everything we do. We provide wide-ranging support, training and development for our parliamentary under secretary of state for public health. It also reached out to local authorities employees and volunteers to bring out the best in each individual. through the launch of a range of new marketing materials and communications aimed at sensory impairment teams and social services directors. We increased the number of staff undertaking professional qualifications and made effective use of courses and training that are provided to us free of charge.

In 2014/15, we planned to: Investing in people

• Raise £19.4 million in voluntary income. This includes core donations of £8.6 million We communicate openly through monthly team briefings, effective use of technology, (down 1.15 per cent) and legacies of £10.8 million (up 2 per cent). quarterly staff meetings with the chief executive, and a staff communication and consultation • Achieve a net return of 79 per cent on gross income. group. We have been accredited as Investors in People (IIP) since 2003, and we were • Recruit 36,425 new supporters. awarded the Silver IIP award in 2012. • Achieve our first major fundraising partnership with a national corporate. • Increase national awareness of Blind Veterans UK to 20 per cent by March 2015. Using our volunteers well • Expand the No One Alone campaign to ensure the successful recruitment of at least 700 members. We support our volunteers through a formal induction process and endeavour to find them interesting and worthwhile volunteering opportunities. We advertise our volunteer In 2014/15, we: opportunities on our website, and we currently have volunteers working throughout the organisation. • Raised £20.7 million in voluntary income. This included core donations of £9.0 million and legacies of £11.7 million. In 2014/15, we aimed to: • Achieved a net return of 76 per cent on gross income. • Recruited 27,079 new supporters. • Undertake an in-depth staff survey to measure staff satisfaction and engagement. • Achieved three new major national corporate partnerships. • Roll out a development plan for our leaders that encourages them to adopt a coaching • Increased national awareness of Blind Veterans UK consistently, to reach an average of style of leadership. 23 per cent among our key target audiences (encompassing our core supporters, military • Achieve the Investor in Volunteers (IIV) accreditation to reinforce our positive and audience and carers audience). professional approach to volunteering. • Achieved 2,799 PR reports and mentions in national/local press and media (up by 57 per • Develop a network of home visitors to increase the support we give to our members in cent from 2013/14). their own homes.

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In 2014/15, we:

• Undertook a staff survey to measure staff satisfaction and engagement. 85 per cent of staff responded, resulting in a staff engagement index of 82 per cent. This is significantly above the 68 per cent median for the charity sector. • Made significant progress with our leadership development plan. We have put 35 managers through our coaching programme, with 24 more managers set to follow. • We achieved Investor in Volunteering accreditation during the course of the year and our volunteer numbers now exceed our staff numbers. Our volunteer service is expanding, and we are helping considerably more people in their own homes than we did previously.

In 2015/16, we aim to:

• Participate in a benchmarking process, managed by the Third Sector, so we can measure our people policies and strategy against other charities. • Measure the contribution volunteers make to the organisation to demonstrate their effectiveness and added value. • Achieve re-accreditation as an Investor in People (Silver award), with a view to achieving Gold status in 2018. • Implement an internal communications strategy that recognises the increasing size of our geographical footprint and the need to maintain our high levels of staff engagement.

Financial overview

Our financial strategy is to support our growing numbers of beneficiaries and services (including community-based activities) as efficiently as possible. Rising costs are financed by donations, legacies, investment and rental income, and the potential rise in value of our investment and property portfolios.

The financial statements have been prepared to comply with the requirements of the Statement of Recommended Practice (the Charities SORP) issued in March 2005.

Income

Total incoming resources of £27.2 million in 2014/15 increased 1.5 per cent from £26.8 million in the previous year. This was split over a number of income streams:

• Voluntary income contributed £20.7 million, an increase of 3.2 per cent on last year’s £20 million. The cost of generating this income was £5.3 million, resulting in a £15.4 million net contribution to the delivery of member services. • Legacy income improved by 3.5 per cent to £11.7 million (£11.3 million last year). Other voluntary donations income increased by 3.3 per cent to £9 million (£8.7 million last year). • Income from investments decreased to £3.6 million (£3.8 million last year). Investment property income was up from £1.4 million last year to £1.5 million, due to higher rental income and better occupancy rates. Income from our investment portfolio was £2.1 million, down from £2.4 million the previous year. • Income from charitable activities remained at £2.8 million for the year. Care centre fees increased slightly to £1.8 million. Rental income from properties occupied by beneficiaries remained at £1 million.

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In 2014/15, we: Expenditure

• Undertook a staff survey to measure staff satisfaction and engagement. 85 per cent of Total resources expended of £30.2 million was 4 per cent up on last year’s £29.0 million, to staff responded, resulting in a staff engagement index of 82 per cent. This is significantly support the 10 per cent increase in members during the year. Charitable expenditure above the 68 per cent median for the charity sector. increased by £1.2 million (a 5.2 per cent rise) to £24 million, while the cost of generating • Made significant progress with our leadership development plan. We have put 35 funds remained at the same level (£5.3 million). managers through our coaching programme, with 24 more managers set to follow. • We achieved Investor in Volunteering accreditation during the course of the year and our The impact of the growth in members was felt mostly by welfare services where costs rose 11 volunteer numbers now exceed our staff numbers. Our volunteer service is expanding, per cent to £3.8 million, while independent living assistant costs increased 17.5 per cent to and we are helping considerably more people in their own homes than we did previously. £5.3 million. Member recruitment costs also rose 29 per cent to £0.8 million, due to the growth of our No One Alone campaign. Housing provision saw a drop in costs of 2.9 per cent to £2.4 In 2015/16, we aim to: million. There was no change in expenditure for care centre activities, which amounted to £11.7 million. Grants continue to be provided to beneficiaries when the need arises in • Participate in a benchmarking process, managed by the Third Sector, so we can measure accordance with the charity’s vision and aims. our people policies and strategy against other charities. • Measure the contribution volunteers make to the organisation to demonstrate their All other recognised gains and losses amounted to a net gain of £6.9 million for the year effectiveness and added value. (2014: £6.5 million gain). This was attributable to an increase in the value of investments held • Achieve re-accreditation as an Investor in People (Silver award), with a view to achieving in the stock market (£6.2 million realised and unrealised), an increase in property values (£2.6 Gold status in 2018. million realised and unrealised) and gains from property no longer held for charitable • Implement an internal communications strategy that recognises the increasing size of our purposes (£2.4 million). This was offset by an increase in the pension scheme actuarial geographical footprint and the need to maintain our high levels of staff engagement. liability (£4.3 million).

Overall, net assets increased in the year by £4 million (£4.4 million in 2014) to £154 million, of Financial overview which £58.2 million (38 per cent) is restricted for the benefit of members who were blinded in active service as at 31 March 2010. Our financial strategy is to support our growing numbers of beneficiaries and services (including community-based activities) as efficiently as possible. Rising costs are financed by donations, legacies, investment and rental income, and the potential rise in value of our investment and property portfolios.

The financial statements have been prepared to comply with the requirements of the Statement of Recommended Practice (the Charities SORP) issued in March 2005.

Income

Total incoming resources of £27.2 million in 2014/15 increased 1.5 per cent from £26.8 million in the previous year. This was split over a number of income streams:

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Governance and financial information 2014/15

Corporate governance

Structure of the Council of Blind Veterans UK

The Council is made up of 15 trustees who have a variety of skills and backgrounds, although there is a strong emphasis on working in the finance sector or the Armed Forces. We list our trustees on page 50.

The Council meets quarterly to consider strategic business. It has set up new committees that will meet as required during the year:

• Finance committee • Investment committee • Governance and Strategy committee • Services and Accessibility committee • Marketing and Fundraising committee • Nominations committee • Personnel and Remuneration committee

What the committees review

• Finance committee

To advise the Council on matters relating to the setting of financial plans and annual budgets, insight on performance, and ensuring adequate visibility and control of the operational finances and capital investments made by the charity.

• Investments committee

To develop on behalf of the Council an appropriate oversight of the charity’s investment policy and practice, and to brief the Council on progress and governance issues.

• Governance and Strategy committee

To develop and monitor the appropriate processes to allow trustees to exercise their responsibilities for good governance. To lead the process for the Council to develop and regularly update its strategic vision and goals, and to ensure that appropriate strategic direction is given to the executive.

• Services and Accessibility committee

To make sure the blend and the level of accessibility is right, and that we are having as good an impact on our members’ lives as possible, and allowing them to lead independent lives. The committee looks at internal and external monitoring/measuring processes to assess how satisfied members are, and develops a strategy to progress our services.

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Governance and financial information 2014/15 • Marketing and Fundraising committee

To look at our fundraising mix; how much recognition and awareness there is of the Corporate governance charity; how people perceive our vision and values; how we engender support from the

public; and how effective we are at raising money at a sensible cost. It looks at the image Structure of the Council of Blind Veterans UK and public awareness of Blind Veterans UK and gains a strategic overview of fundraising and the processes of brand development effectiveness. It looks at whether we have the The Council is made up of 15 trustees who have a variety of skills and backgrounds, although right visibility and how effective we are. there is a strong emphasis on working in the finance sector or the Armed Forces. We list our trustees on page 50. • Nominations committee

The Council meets quarterly to consider strategic business. It has set up new committees that To consider nominations for new members of the Council, taking into full account the will meet as required during the year: charity’s requirement for particular skills or qualifications. Once appointed, all new

trustees are invited to attend our two-day staff induction programme, which introduces all • Finance committee new staff to our ethos. • Investment committee

• Governance and Strategy committee • Personnel and Remuneration committee • Services and Accessibility committee • Marketing and Fundraising committee To gain a strategic overview of all personnel issues to meet the criteria of good • Nominations committee governance. It ensures that appropriate processes are in place for the handling of all • Personnel and Remuneration committee people issues. It gains an oversight of the processes of remuneration. It advises the Council on all appropriate issues. What the committees review

• Finance committee Equality, diversity and disability

To advise the Council on matters relating to the setting of financial plans and annual In terms of equality, diversity and disability, it is fundamental that people are treated fairly, budgets, insight on performance, and ensuring adequate visibility and control of the with respect and dignity. We do not tolerate any discrimination, victimisation or harassment on operational finances and capital investments made by the charity. the grounds of age, disability, gender reassignment, HIV status, marital status, race, religious beliefs or sexual orientation. • Investments committee

To develop on behalf of the Council an appropriate oversight of the charity’s investment policy and practice, and to brief the Council on progress and governance issues.

• Governance and Strategy committee

• Services and Accessibility committee

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Financial responsibilities of the Blind Veterans UK Council

The trustees (who are also directors of Blind Veterans UK for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group, and of the incoming resources and application of resources, including the income and expenditure of the charitable 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 UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. • Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that:

• Are sufficient to show and explain the charitable company’s transactions. • Disclose with reasonable accuracy, at any time, the financial position of the charitable company. • Enable them to ensure that the financial statements comply with the Companies Act, 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. As far as the Council is aware, there is no relevant audit information that our auditors are unaware of.

The Council believes it has taken all the steps that it ought to have taken, as trustees, to make itself aware of any relevant audit information, and to establish that the charity’s auditors are aware of that information.

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Financial responsibilities of the Blind Veterans UK Council Risk and internal control

The trustees (who are also directors of Blind Veterans UK for the purposes of company law) The trustees have overall responsibility for ensuring that the charity has appropriate controls, are responsible for preparing the trustees’ annual report and the financial statements in including operational and financial controls. They are also responsible for safeguarding our accordance with applicable law and United Kingdom Accounting Standards. members (when receiving our services) and assets, and for taking reasonable steps to prevent accidents and incidents, and to prevent and detect fraud and other irregularities, and Company law requires the trustees to prepare financial statements for each financial year. to give reassurance that: Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company • Centres are safe for our members and staff. and the group, and of the incoming resources and application of resources, including the • Assets are safeguarded against unauthorised use or disposal. income and expenditure of the charitable group for that period. • There are proper records and financial information. • We comply with relevant laws and regulations. In preparing these financial statements, the trustees are required to: Risk management enables us to identify and, by varying degrees, mitigate the risks that the • Select suitable accounting policies and then apply them consistently. organisation faces, allowing us to manage them more effectively. To manage risk, the • Observe the methods and principles in the Charities SORP. trustees are responsible for the system of internal control and reviewing its effectiveness. • Make judgments and estimates that are reasonable and prudent. These controls provide reasonable assurance against material misstatement or loss. • State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. The risk management process includes: • Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in business. • Management’s responsibility to identify and evaluate risks for the trustees’ consideration. • A departmental review of the type of risks we face as a charity. The trustees are responsible for keeping adequate accounting records that: • The likelihood of the risks materialising. • The charity’s ability to reduce the incidence of risks and their impact on the business. • Are sufficient to show and explain the charitable company’s transactions. • Arrangements to monitor and report on risk and control for important matters, together • Disclose with reasonable accuracy, at any time, the financial position of the charitable with details of corrective action. company. • Enable them to ensure that the financial statements comply with the Companies Act, the Trustees and management have developed a new risk assessment process to enhance the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) identification, review and management of risks and their associated mitigation actions. We Regulations 2006 (as amended) and the provisions of the charity’s constitution. believe the main risks include:

They are also responsible for safeguarding the assets of the charity and the group, and hence • A substantial fall in the value of our investments could have an impact on the level of for taking reasonable steps for the prevention and detection of fraud and other irregularities. services we provide to our beneficiaries. We monitor this risk by an ongoing review of the As far as the Council is aware, there is no relevant audit information that our auditors are investment managers’ performance, the portfolio composition and the market risk in the unaware of. context and timing of future funding needs. • The charity’s pension scheme liability continues to rise substantially, partly due to falling The Council believes it has taken all the steps that it ought to have taken, as trustees, to interest rates and ongoing accrual of pension benefits to active members of the scheme. make itself aware of any relevant audit information, and to establish that the charity’s auditors Market related issues are beyond our control, but we are seeking to limit the growth in are aware of that information. pension liabilities by closing the scheme to further accrual of benefits for ongoing service, subject to consultation with scheme members.

Members of the Council Council members receive no remuneration for their services as trustees.

Reserves

The trustees are responsible for ascertaining whether or not the funds we hold in reserve are adequate for our ongoing work. To do this, they consider the lifelong support we offer our beneficiaries, the required level of working capital, planned capital commitments, revenue projects and unforeseen circumstances, as well as the nature and type of reserve assets.

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Restricted reserves

The restricted fund comprises £66 million. Of this, £58 million is in the Sir Arthur Pearson Fund, which is restricted for the benefit of members blinded during active service on or before 31 March 2010. Another £8 million is restricted for other smaller funds, including the Llandudno Capital Appeal Endowment Fund and the Diana Gubbay Trust for the Blind, which supports emergency service personnel who have suffered sight loss.

Other members (those who have lost their sight after service and any new members who have lost their sight during active service from 1 April 2010) are supported by the unrestricted fund.

Unrestricted reserves

In considering the appropriate level of unrestricted reserves, the trustees have assessed the nature and liquidity of the assets.

Total unrestricted reserves are £87.4 million. This includes:

• £43.4 million in beneficiary properties, operational centres and other assets. • £20.3 million in beneficiary properties that are being commercially let. • £23.7 million in free liquid reserves to fund the budgeted operational deficit in 2015/16, working capital and unforeseen circumstances (approximately nine months’ current total expenditure).

Unrestricted reserves need to be sufficient to help us provide support for members for the rest of their lives. For some of our younger members this might mean supporting them for over 80 years during their life journey after sight loss. With greater life expectancy, members challenged by sight loss may also have a range of other age related conditions in later life, requiring additional support perhaps in collaboration with other organisations. Because of these financial pressures Trustees consider free reserves, which are held as investments, should be around the equivalent of one year’s expenditure.

Our investment policy

We have adopted a total return policy for our investment portfolio, with the actual performance measured against agreed benchmarks. The primary aims for our investment managers are to achieve a total return of 3.5 per cent per annum above inflation over the longer term and perform well against the benchmarks. Each year there is a targeted level of investment income for budgeting purposes.

Cazenove Capital and Jupiter Asset Management were appointed as investment managers in 2012, with each managing a half of the existing portfolio. Additionally, Cazenove took over responsibility for administering a small private equity portfolio, although no further commitments are anticipated in this asset class.

During the 12 months to 31 March 2015, the value of the externally managed investment portfolios increased by £4.2 million to £97.1 million, after the transfer of investment income (£2.1 million), a £2 million drawing from the portfolios and the payment of fees (£0.3 million).

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Restricted reserves At 31 March 2015, the portfolio allocations in institutional funds, with a high degree of liquidity, were as follows: The restricted fund comprises £66 million. Of this, £58 million is in the Sir Arthur Pearson Fund, which is restricted for the benefit of members blinded during active service on or before Cazenove Capital 31 March 2010. Another £8 million is restricted for other smaller funds, including the Llandudno Capital Appeal Endowment Fund and the Diana Gubbay Trust for the Blind, which March 2014 March 2015 supports emergency service personnel who have suffered sight loss. % % 41.9 40.3 UK equities Other members (those who have lost their sight after service and any new members who 22.7 24.8 Overseas equities have lost their sight during active service from 1 April 2010) are supported by the unrestricted 14.0 11.4 Fixed income and cash fund. 14.9 15.8 Alternatives 6.5 7.7 Cash Unrestricted reserves Jupiter Asset Management In considering the appropriate level of unrestricted reserves, the trustees have assessed the nature and liquidity of the assets. March 2014 March 2015 % % Total unrestricted reserves are £87.4 million. This includes: 29.8 27.8 UK equities 47.2 52.0 Overseas equities • £43.4 million in beneficiary properties, operational centres and other assets. 12.1 11.2 Fixed income • £20.3 million in beneficiary properties that are being commercially let. 4.7 4.5 Commodities • £23.7 million in free liquid reserves to fund the budgeted operational deficit in 2015/16, 6.2 4.5 Cash working capital and unforeseen circumstances (approximately nine months’ current total expenditure). Since the two managers took over the portfolios in 2012, the total returns of the combined portfolios have outperformed the inflation-linked target by about 5.4 per cent per annum (pa), Unrestricted reserves need to be sufficient to help us provide support for members for the rest with Cazenove exceeding it by 5.6 per cent pa and Jupiter by 5.2 per cent pa. of their lives. For some of our younger members this might mean supporting them for over 80 years during their life journey after sight loss. With greater life expectancy, members Over the past 12 months to 31 March 2015, the total returns of the two portfolios were challenged by sight loss may also have a range of other age related conditions in later life, Cazenove 7.4 per cent and Jupiter 11.6 per cent. This compares to the ARC Steady Growth requiring additional support perhaps in collaboration with other organisations. Because of benchmark of 9 per cent and the inflation-linked target of 3.5 per cent. these financial pressures Trustees consider free reserves, which are held as investments, should be around the equivalent of one year’s expenditure. We hold 69 residential properties as investments. They were almost all originally acquired for beneficiaries to live in. At the year end, they were valued, together with various pieces of land, Our investment policy at £20.3 million (2014: £19.4 million). Two houses and a half share in a house were sold during the year for a total of £0.4 million. In addition, a site with planning permission for We have adopted a total return policy for our investment portfolio, with the actual performance residential development and a small agricultural holding were sold for a total of £1.9 million. measured against agreed benchmarks. The primary aims for our investment managers are to achieve a total return of 3.5 per cent per annum above inflation over the longer term and The investment properties, together with a further 80 properties that are let temporarily, perform well against the benchmarks. Each year there is a targeted level of investment pending use by beneficiaries, generated an income of £1.5 million during the year. We charge income for budgeting purposes. market rents and achieve a high level of occupation (occupancy averaged over 97 per cent during the year), while controlling expenditure on outgoings. Last year, the total return from Cazenove Capital and Jupiter Asset Management were appointed as investment managers in properties and land let out commercially increased by more than 14 per cent. 2012, with each managing a half of the existing portfolio. Additionally, Cazenove took over responsibility for administering a small private equity portfolio, although no further We also hold properties in use, or available for use by beneficiaries, with a historic net book commitments are anticipated in this asset class. value of £19.2 million (2014: £19.3 million). Gains on the sale of land and property amounted to £2.4 million during the year (2014: £0.08 million). During the 12 months to 31 March 2015, the value of the externally managed investment portfolios increased by £4.2 million to £97.1 million, after the transfer of investment income (£2.1 million), a £2 million drawing from the portfolios and the payment of fees (£0.3 million).

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In 2014/15, we planned to:

• Run a total return investment strategy for our externally managed portfolios that generates a 3.5 per cent return above the consumer price index over the long term. • Earn £1.8 million income from investments. • Let properties on a commercial basis for more than £1.4 million. • Sell properties to raise £1.5 million.

In 2014/15, we:

• Exceeded the inflation target return on our externally managed portfolios by 5.4 per cent pa since 2012. • Earned £1.9 million income from investments. • Let properties on a commercial basis for £1.5 million. • Sold land and properties to raise £4.6 million.

In 2015/16, we aim to:

• Run a total return investment strategy that generates a 3.5 per cent return above inflation over the long term. • Earn £2 million income from investments. • Let properties on a commercial basis for over £1.5 million. • Sell land and properties to raise £2.5 million (including the premium payment arising from a site sold for residential development).

The report of the Council and strategic report were approved by the Council on 15 September 2015 and signed on its behalf by the chairman of the trustees, Timothy Davis.

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In 2014/15, we planned to: Independent auditor’s report to the members and trustees of Blind Veterans UK • Run a total return investment strategy for our externally managed portfolios that generates a 3.5 per cent return above the consumer price index over the long term. We have audited the financial statements of Blind Veterans UK for the year ended 31 March • Earn £1.8 million income from investments. 2015, which comprise the consolidated statement of financial activities, the group and parent • Let properties on a commercial basis for more than £1.4 million. charity balance sheets, the consolidated cash flow statement and the related notes numbered • Sell properties to raise £1.5 million. 1 to 15.

The financial reporting framework that has been applied in their preparation is applicable by In 2014/15, we: law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). • Exceeded the inflation target return on our externally managed portfolios by 5.4 per cent pa since 2012. This report is made solely to the charitable company’s members, as a body, in accordance • Earned £1.9 million income from investments. with chapter 3 of part 16 of the Companies Act 2006, and to the charitable company’s • Let properties on a commercial basis for £1.5 million. trustees, as a body, in accordance with section 44(1c) of the Charities and Trustee • Sold land and properties to raise £4.6 million. Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an In 2015/16, we aim to: auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the • Run a total return investment strategy that generates a 3.5 per cent return above inflation company’s members as a body, for our audit work, for this report, or for the opinions we have over the long term. formed. • Earn £2 million income from investments. • Let properties on a commercial basis for over £1.5 million. Respective responsibilities of trustees and auditor • Sell land and properties to raise £2.5 million (including the premium payment arising from a site sold for residential development). As explained more fully in the statement of trustees’ responsibilities, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible The report of the Council and strategic report were approved by the Council on 15 September for the preparation of the financial statements, and for being satisfied that they give a true and 2015 and signed on its behalf by the chairman of the trustees, Timothy Davis. fair view.

We have been appointed as auditor under section 44(1c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006, and report in accordance with regulations made under those acts.

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.

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 charitable company’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 non-financial information in the trustees’ annual report, including the strategic report, to identify material inconsistencies with the audited financial statements, and to identify any information that is apparently materially incorrect,

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based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit.

If we become aware of any apparent material misstatements or inconsistencies, we consider the implications for our report.

Opinion on financial statements

In our opinion, the financial statements:

• Give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2015, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended. • Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. • Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (amended).

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, the information given in the trustees’ annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 or the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

• The parent charitable company has not kept adequate accounting records. • The parent charitable company financial statements are not in agreement with the accounting records and returns. • Certain disclosures of trustees’ remuneration specified by law are not made. • We have not received all the information and explanations we require for our audit.

Mike Hicks Senior Statutory Auditor For and on behalf of Crowe Clark Whitehill LLP Statutory Auditor London

Dated : 21st October 2015

Crowe Clark Whitehill LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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Consolidated statement of financial activities for the year ended 31 March 2015 based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. (incorporating an income and expenditure account) Sir Arthur Other If we become aware of any apparent material misstatements or inconsistencies, we consider Pearson 2014 restricted Unrestricted Restricted the implications for our report. funds fund Fund Note Total

£’000 £’000 £’000 £’000 £’000 Opinion on financial statements Incoming resources from generated funds In our opinion, the financial statements: Voluntary income

8,758 Donations 2 - 2,035 6,983 9,018 • Give a true and fair view of the state of the group’s and the charitable company’s affairs 11,323 Legacies - 162 11,521 11,683 as at 31 March 2015, and of the group’s incoming resources and application of resources, Activities to generate funds including its income and expenditure, for the year then ended. 3,778 Investment income 3 1,157 14 2,442 3,613 • Have been properly prepared in accordance with United Kingdom Generally Accepted 35 Social investment income 34 - - 34

Accounting Practice. 148 Sales and other income 1 - 101 102

• Have been prepared in accordance with the requirements of the Companies Act 2006, the Net gains / (losses) on disposal of tangible 35 - - (1) (1) Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the fixed assets Incoming resources from charitable Charities Accounts (Scotland) Regulations 2006 (amended). activities

1,010 Housing provision - - 960 960 Opinion on other matters prescribed by the Companies Act 2006 1,666 Care centre fees 53 - 1,704 1,757

26,753 Total incoming resources 1,245 2,211 23,711 27,167

In our opinion, the information given in the trustees’ annual report, including the strategic Resources expended report, for the financial year for which the financial statements are prepared is consistent with Cost of generating funds

5,242 Fundraising costs - - 5,297 5,297 the financial statements. 886 Investment management fees 185 - 649 834

6,128 185 - 5,946 6,131 Matters on which we are required to report by exception Charitable expenditure

4,492 Independent living assistance 735 - 4,545 5,280

We have nothing to report in respect of the following matters where the Companies Act 2006 11,694 Care centre activities 351 323 10,988 11,662

3,397 Welfare services 114 253 3,413 3,780 or the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to 2,436 Housing provision 444 - 1,921 2,365 you if, in our opinion: Beneficiary recruitment and 648 - - 840 840 communications • The parent charitable company has not kept adequate accounting records. 164 Governance costs 4 3 - 89 92

22,831 Total charitable expenditure 1,647 576 21,796 24,019 • The parent charitable company financial statements are not in agreement with the 28,959 Total resources expended 5 1,832 576 27,742 30,150 accounting records and returns. (2,206) Net incoming (outgoing) resources (587) 1,635 (4,031) (2,983)

• Certain disclosures of trustees’ remuneration specified by law are not made. (896) Realised gains/(losses) on investments (141) - 428 287

• We have not received all the information and explanations we require for our audit. Gains on sale of properties no longer held 807 - - 2,387 2,387 for charitable purposes (2,295) Surplus (deficit) for the year (728) 1,635 (1,216) (309)

Other recognised gains and losses

5,592 Unrealised gains on investments 3,550 47 4,918 8,515

Pension scheme actuarial gain/(loss) 1,062 14 - - (4,283) (4,283) (FRS17) 4,359 Net movement in funds 2,822 1,682 (581) 3,923 Mike Hicks - Transfer between funds - (796) 796 - Senior Statutory Auditor Reconciliation of funds

For and on behalf of Fund balances brought forward at 31 145,278 55,418 6,996 87,223 149,637 Crowe Clark Whitehill LLP March 2014 Fund balances carried forward at 31 Statutory Auditor 149,637 11 58,240 7,882 87,438 153,560 London March 2015

The notes on pages 37 to 49 form part of these financial statements. Dated : 21st October 2015

Crowe Clark Whitehill LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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Balance sheet as at 31 March 2015

Charity Group Note Charity Group 2014 2014 2015 2015 £’000 £’000 £’000 £’000 Fixed assets 42,684 42,684 Tangible assets 7 43,403 43,403 113,553 113,553 Investments 8 118,554 118,554 156,237 156,237 161,957 161,957

Current assets 1,778 1,688 Debtors 9 2,775 2,830 2,314 2,429 Cash at bank 3,716 3,741

4,092 4,117 6,491 6,571 Current liabilities Creditors, amounts falling due within one (1,335) (1,360) year 10 (1,482) (1,562)

2,757 2,757 Net current assets 5,009 5,009

158,994 158,994 Total assets less current liabilities 166,966 166,966

Non current liabilities (9,357) (9,357) Pension scheme liability 14 (13,406) (13,406)

149,637 149,637 Net assets 153,560 153,560

Represented by:

55,418 55,418 Sir Arthur Pearson Restricted Fund 11,12 58,240 58,240

6,996 6,996 Other restricted funds 11,12 7,882 7,882

96,580 96,580 Unrestricted fund 11,12 100,844 100,844

(9,357) (9,357) Pension reserve 11,14 (13,406) (13,406)

149,637 149,637 Net assets 153,560 153,560

Company Number: 189648, registered in England.

The notes on pages 37 to 49 form part of these financial statements.

These financial statements were approved by the Council of Blind Veterans UK on 15 September 2015 and signed on its behalf.

Timothy Davis Anthony Fletcher Chairman Honorary Treasurer

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Balance sheet as at 31 March 2015 Consolidated cashflow statement for the year ended 31 March 2015

Group Note Group Charity Group Note Charity Group 2014 2015 2014 2014 2015 2015 £’000 £’000 £’000 £’000 £’000 £’000

Fixed assets (3,167) Net cash outflow from charitable activities (a) (5,026) 42,684 42,684 Tangible assets 7 43,403 43,403 113,553 113,553 Investments 8 118,554 118,554 156,237 156,237 161,957 161,957 Returns on investments 44 Interest received 44 Current assets 2,387 Dividends received 2,104 1,778 1,688 Debtors 9 2,775 2,830 1,382 Investment rent received 1,499 2,314 2,429 Cash at bank 3,716 3,741 4,092 4,117 6,491 6,571 Capital expenditure and financial investments Current liabilities (2,651) Purchase of tangible fixed assets (4,430) Creditors, amounts falling due within one 36 Proceeds from sale of tangible fixed assets - (1,335) (1,360) year 10 (1,482) (1,562) Proceeds from sale of properties no longer held 2,757 2,757 Net current assets 5,009 5,009 1,678 for charitable purposes 3,178 (76) Private equity commitment - 158,994 158,994 Total assets less current liabilities 166,966 166,966 - Net proceeds from property portfolio 1,897 - Draw downs from investment portfolio 2,000 Non current liabilities - Mortgage redemption 69 (9,357) (9,357) Pension scheme liability 14 (13,406) (13,406) 49 Other (23)

149,637 149,637 Net assets 153,560 153,560 Net cash inflow from capital expenditure and 2,849 financial investments 6,338

Represented by: (Decrease)/Increase in cash at bank in the 55,418 55,418 Sir Arthur Pearson Restricted Fund 11,12 58,240 58,240 (318) year (b) 1,312

6,996 6,996 Other restricted funds 11,12 7,882 7,882

96,580 96,580 Unrestricted fund 11,12 100,844 100,844

(9,357) (9,357) Pension reserve 11,14 (13,406) (13,406)

149,637 149,637 Net assets 153,560 153,560

Company Number: 189648, registered in England.

The notes on pages 37 to 49 form part of these financial statements.

These financial statements were approved by the Council of Blind Veterans UK on 15 September 2015 and signed on its behalf.

Timothy Davis Anthony Fletcher Chairman Honorary Treasurer

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Notes to cashflow statement

Group Group 2014 2015 Reconciliation of net incoming resources to £’000 net cash inflow from charitable activities £’000 (a) Net cash outflow from charitable activities (2,206) Net outgoing resources (2,983) (3,813) Less investment income (3,647) 2,300 Depreciation 2,260 317 Investment fees charged directly to portfolio 260 (35) Net gain on disposal of tangible fixed assets (1) 103 (Increase)/Decrease in debtors (1,179) 167 Increase in creditors 264 (3,167) Net cash outflow from charitable activities (4,904)

(b) Analysis of changes in cash at bank during the year

2,747 Cash at bank, 1 April 2014 2,429 (318) Net cash inflow/(outflow) 1,312 2,429 Cash at bank, 31 March 2015 3,741

Note of historical cost surplus for the year ended 31 March 2015 Group Group 2014 2015 £’000 £’000

(2,206) Net outgoing resources (2,984) (896) Realised gain/(loss) on sale of investments 287 Realised gains on sale of properties no longer held for 807 charitable purposes 2,387

(2,295) Historical cost deficit (310)

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Notes to cashflow statement Notes to the accounts

1 Accounting policies Group Group a) Basis of preparation 2014 2015 The financial statements have been prepared under the historical cost convention with the Reconciliation of net incoming resources to exception of investments, which are included at market value. The financial statements have been £’000 net cash inflow from charitable activities £’000 prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting, (a) Net cash outflow from charitable published in March 2005, the Companies Act 2006 and other applicable accounting standards. activities (2,206) Net outgoing resources (2,983) Comparatives for debtors and creditors have been restated to reclassify intercompany balances according to whether amounts are owed to or from the charity. Fundraising costs have been (3,813) Less investment income (3,647) restated to include expenditure from commercial trading activities. 2,300 Depreciation 2,260 317 Investment fees charged directly to portfolio 260 After making enquires, the trustees have a reasonable expectation that the charity has adequate (35) Net gain on disposal of tangible fixed assets (1) resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt 103 (Increase)/Decrease in debtors (1,179) the going concern basis in preparing the financial statements, as outlined in the statement of 167 Increase in creditors 264 trustees’ responsibilities on page 25. (3,167) Net cash outflow from charitable activities (4,904) b) Basis of consolidation Blind Veterans Trading Limited has been consolidated on a line by line basis. The charity has taken advantage of the exemptions available under FRS 8 not to disclose transactions with other group companies. (b) Analysis of changes in cash at bank during the year The company has taken advantage of the exemption available under section 408 of the Companies Act 2006 not to disclose its unconsolidated statement of financial activities. The incoming resources for the charity only were £27.2 million for the year to 31 March 2015 and the 2,747 Cash at bank, 1 April 2014 2,429 charity only surplus for that period was £3.9 million. (318) Net cash inflow/(outflow) 1,312 2,429 Cash at bank, 31 March 2015 3,741 Four Seasons NWMC Housing Limited has not been consolidated as it is not considered material.

c) Company status

The charity is a company limited by guarantee. The members of the company are the trustees, who are also ordinary members and named on page 49. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

d) Fund accounting Note of historical cost surplus for the year ended 31 March 2015 The restricted fund comprises the Sir Arthur Pearson Restricted Fund, the Diana Gubbay Trust for Group Group the Blind (for blinded emergency services personnel), the Llandudno Capital Endowment Fund and a number of smaller funds. The restricted fund must provide sufficient support to allow for lifelong 2014 2015 care to war blinded members as at 31 March 2010. The unrestricted reserves are for all £’000 £’000 beneficiaries including war-blinded members admitted after 31 March 2010 and those who served in Her Majesty’s Armed Forces and have subsequently lost their sight. (2,206) Net outgoing resources (2,984) e) Incoming resources (896) Realised gain/(loss) on sale of investments 287 Investment income, mortgage interest, rents and accommodation charges are dealt with on an Realised gains on sale of properties no longer held for accruals basis. Donations and legacy income are accounted for when their amount and receipt are 807 charitable purposes 2,387 certain. All other income is credited to the statement of financial activities in the year in which it is

received. Residual legacies are accrued for in line with Blind Veterans UK policy for recognising (2,295) Historical cost deficit (310) these legacies.

f) Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.

Cost of generating funds This comprises the costs associated with donations, legacy income and investment income, and includes fundraising costs, publicity costs and investment management fees.

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Charitable expenditure The expenditure relating to housing provision, independent living assistance, welfare services, rehabilitation and training, and care centre costs is determined by reference to appropriate cost centres. Areas of shared cost are allocated based on staff time and the use of the assets concerned. Grants payable are based on amounts paid or due to individual beneficiaries.

Support costs comprise expenditure incurred in providing administrative and financial services in support of the charitable expenditure above and are allocated across the categories of charitable expenditure, governance cost and the cost of generating funds. The basis of the cost allocation has been explained in note 6 to the accounts.

Governance costs comprise costs associated with the governance arrangements of the charity relating to the general running of the charity, as opposed to costs associated with fundraising or charitable activity. Included within this category are the costs associated with strategic management of the charity’s activities.

Irrecoverable VAT is included with the item of expense to which it relates and is charged to the statement of financial activity.

g) Investments Investments are included in the balance sheet at market value. Realised investment gains and losses represent the difference between the market value of the investments at the beginning of the period, or the cost if purchased during the period, and the sale proceeds. The charity retains certain properties, formerly occupied and vacated by beneficiaries, wherever the opportunity is available for letting on terms which produce a suitable return to the charity. These properties are shown as investment properties.

h) Tangible fixed assets and depreciation Tangible fixed assets costing more than £5,000 are capitalised and depreciated on a straight-line basis to write off the cost over their expected useful lives at the following rates:

Freehold land 0% per annum (pa) Freehold and long leasehold buildings: Beneficiaries’ property 4% pa Headquarters 3% pa Brighton centre 2–4% pa Sheffield centre 2% pa Llandudno centre 2% pa Computers, furniture and equipment 20–33% pa Motor vehicles 12.5–20% pa Property improvements 5–10% pa

The cost of freehold land of beneficiary dwellings has been estimated by the Council.

i) Pensions Pension costs are charged to the statement of financial activities on a basis that spreads the expected cost of providing pensions over the employees’ working lives with Blind Veterans UK. Actuarial gains and losses arising are recognised on the statement of financial activity under the heading Pension scheme actuarial gain/(loss) (FRS17). Disclosures have been made in note 14 in accordance with FRS17 Accounting for Retirement Benefits.

2 Donations

During the year a donation of £1.25 million was received from the Armed Forces Covenant (LIBOR) Fund ( 1.0 million 2013/14). This will contribute towards the cost of the refurbishment of an outbuilding at our Llandudno centre, which will offer a new life skills service.

38 37

3 Investment income Charitable expenditure The expenditure relating to housing provision, independent living assistance, welfare services, Charity Charity rehabilitation and training, and care centre costs is determined by reference to appropriate cost centres. Areas of shared cost are allocated based on staff time and the use of the assets & Group & Group concerned. Grants payable are based on amounts paid or due to individual beneficiaries. 2014 2015 £’000 £’000 Support costs comprise expenditure incurred in providing administrative and financial services in support of the charitable expenditure above and are allocated across the categories of charitable 2,387 UK listed investments 2,103 expenditure, governance cost and the cost of generating funds. The basis of the cost allocation 2 Unlisted investments 5 has been explained in note 6 to the accounts. 7 Deposit interest 6

Governance costs comprise costs associated with the governance arrangements of the charity 1,382 Rent on investment properties 1,499 relating to the general running of the charity, as opposed to costs associated with fundraising or charitable activity. Included within this category are the costs associated with strategic 3,778 3,613 management of the charity’s activities.

Irrecoverable VAT is included with the item of expense to which it relates and is charged to the 4 Governance costs statement of financial activity. Charity Charity g) Investments & Group & Group 2014 2015 Investments are included in the balance sheet at market value. Realised investment gains and £’000 £’000 losses represent the difference between the market value of the investments at the beginning of Includes: the period, or the cost if purchased during the period, and the sale proceeds. The charity retains 43 Auditor’s remuneration - Audit fee 49 certain properties, formerly occupied and vacated by beneficiaries, wherever the opportunity is 19 - Other costs 6 available for letting on terms which produce a suitable return to the charity. These properties are Travel and subsistence expenses reimbursed to eight shown as investment properties. 4 Council members (2014: eight Council members) 8 h) Tangible fixed assets and depreciation During the year, one trustee was employed by Cazenove Capital Management, who managed Tangible fixed assets costing more than £5,000 are capitalised and depreciated on a straight-line part of the charity’s investments. Fees paid to Cazenove Capital Management during the year basis to write off the cost over their expected useful lives at the following rates: were £137,361, of which £37,500 was outstanding at the year end.

Freehold land 0% per annum (pa) Freehold and long leasehold buildings: 5 Total resources expended Beneficiaries’ property 4% pa Headquarters 3% pa Brighton centre 2–4% pa Group Charity Group Charity

Sheffield centre 2% pa Staff 2014 2014 Dep’n Other 2015 2015 Llandudno centre 2% pa costs £’000 £’000 £’000 £’000 £’000 £’000 £’000 Computers, furniture and equipment 20–33% pa Motor vehicles 12.5–20% pa Cost of generating Property improvements 5–10% pa funds 5,165 5,165 Fundraising costs 1,823 5 3,469 5,297 5,243

Investment management The cost of freehold land of beneficiary dwellings has been estimated by the Council. 963 885 350 - 484 834 834 fees 6,128 6,050 2,173 5 3,953 6,131 6,077 i) Pensions Pension costs are charged to the statement of financial activities on a basis that spreads the Charitable expenditure Independent living expected cost of providing pensions over the employees’ working lives with Blind Veterans UK. 4,492 4,492 1,975 323 2,982 5,280 5,280 Actuarial gains and losses arising are recognised on the statement of financial activity under the assistance 11,694 11,694 Care centre costs 6,827 322 4,513 11,662 11,662 heading Pension scheme actuarial gain/(loss) (FRS17). Disclosures have been made in note 14 in 3,397 3,397 Welfare services 2,576 114 1,090 3,780 3,780 accordance with FRS17 Accounting for Retirement Benefits. 2,436 2,436 Housing provision 692 993 680 2,365 2,365

164 164 Governance costs 53 - 39 92 92

2 Donations 648 648 Recruitment of members 18 59 763 840 840

22,831 22,831 12,141 1,811 10,067 24,019 24,019

During the year a donation of £1.25 million was received from the Armed Forces Covenant 28,959 28,881 Total resources expended 14,314 1,816 14,020 30,150 30,096

(LIBOR) Fund ( 1.0 million 2013/14). This will contribute towards the cost of the refurbishment of Included in the above are 4,002 4,002 1,670 443 1,731 3,844 3,844 an outbuilding at our Llandudno centre, which will offer a new life skills service. support costs of:

39 37 38

6 Support costs

Charity Charity

& & Group Group Fundraising Fundraising costs Investment management Independent living assistance Housing provision Welfare services centre Care costs Recruitment membersof 2015 2014

£'000 £'000

Salary, NIC, pension 162 32 243 35 245 935 18 1,670 1,807

Other administration 25 6 38 5 38 145 3 260 443

Agency staff 1 0 1 0 1 4 0 7 5

Information systems 44 9 66 9 67 254 5 454 435

Depreciation 43 9 64 9 65 248 5 443 458

Insurance 15 3 22 3 22 85 2 152 133

Selection & recruitment 15 4 23 4 23 89 2 160 101

Staff training 14 2 20 3 20 78 2 139 113

Catering 9 2 13 2 13 51 1 91 68

Pension scheme 17 3 25 4 25 96 2 172 140

Equipment 3 1 4 1 5 20 0 34 25

Premises 25 5 38 5 39 147 3 262 274

Total support costs 373 76 557 80 563 2,152 43 3,844 4,002

Support costs are allocated on the basis of head-count of staff within each category, except for depreciation which is allocated based on charitable expenditure split of depreciation costs. Prior to 2015 Information systems costs were recharged directly to service delivery departments. These costs are now reflected centrally.

40 39

7 Tangible fixed assets 6 Support costs Computers,

furniture,

Long equipment, Charity

Charity Charity Freehold leasehold motor & Group & & properties properties vehicles Total Group Group £’000 £’000 £’000 £’000 Fundraising Fundraising costs Investment management Independent living assistance Housing provision Welfare services centre Care costs Recruitment membersof 2015 2014

£'000 £'000 Cost or valuation at 1st April 2014 53,062 3,079 7,715 63,856 Salary, NIC, pension 162 32 243 35 245 935 18 1,670 1,807 Additions 3,724 - 706 4,430 Other administration 25 6 38 5 38 145 3 260 443 Transfer in 221 - - 221 Agency staff 1 0 1 0 1 4 0 7 5

Information systems 44 9 66 9 67 254 5 454 435 Transfers out to investment properties (462) - - (462) Depreciation 43 9 64 9 65 248 5 443 458 Disposals of properties no longer held for Insurance 15 3 22 3 22 85 2 152 133 charitable purposes (1,866) - (19) (1,885) Selection & recruitment 15 4 23 4 23 89 2 160 101

Staff training 14 2 20 3 20 78 2 139 113

Catering 9 2 13 2 13 51 1 91 68 At 31 March 2015 54,679 3,079 8,402 66,160

Pension scheme 17 3 25 4 25 96 2 172 140

Equipment 3 1 4 1 5 20 0 34 25 Accumulated depreciation at 1 April 2014 13,210 1,319 6,643 21,172

Premises 25 5 38 5 39 147 3 262 274 Charge for current year 1,559 80 609 2,248

Transfers out to investment properties (102) - - (102) Total support costs 373 76 557 80 563 2,152 43 3,844 4,002 Disposals of properties no longer held for

charitable purposes (561) - - (561)

Support costs are allocated on the basis of head-count of staff within each category, except for depreciation which is allocated based on charitable expenditure split of depreciation costs. At 31 March 2015 14,106 1,399 7,252 22,757 Prior to 2015 Information systems costs were recharged directly to service delivery departments. These costs are now reflected centrally. Net book value: At 31 March 2015 40,573 1,680 1,150 43,403

At 31 March 2014 39,852 1,760 1,072 42,684

Tangible fixed assets (at net book value) comprise:

Charity Charity & Group & Group 2014 2015 £’000 £’000

19,253 Properties for occupation by members 19,227 6,446 Brighton property 7,433 2,780 Headquarters property 2,660 10,831 Llandudno property 10,731 2,258 Sheffield property 2,202 1,116 Computers, furniture, equipment and motor vehicles 1,150

42,684 43,403

The transitional rules of FRS15 were adopted in the year ended 31 March 2001. Accordingly, the book value of the freehold property at 12–14 Harcourt Street, based on the revaluation made as at 5 September 1996 of £1,600,000, has been adopted as the deemed ‘historical cost’.

41 39 40

8 Investments Charity & Group 2015 £’000

Balance at 1 April 2014 113,553 Unrealised gains 8,515 Realised gains 287 Investment management fees paid directly from portfolios (260) Property transfers into investment properties 360 Sale of investment properties (2,104) Repayment of beneficiary mortgages (61) Drawdown from investment portfolios (2,000) Other 264

Balance at 31 March 2015 118,554

2014 2015 £’000 £’000 Being: 91,250 UK listed investments 95,475 1,629 Unlisted investments 1,607 1,258 Beneficiary mortgages 1,197 19,416 Investment properties 20,275

113,553 118,554

The cost of UK listed investments at 31st March 2015 was £81.5 million (2014: £82.8 million), unlisted investments £1.3 million (2014: £1.2 million) and investment properties £3.8 million (2014: £3.5 million).

Independent (external) valuations for each investment property are obtained from registered chartered surveyors on an existing-use basis every five years (20 per cent of investment properties held are valued independently each year on a rotation basis). The remaining investment properties have been valued on an existing-use basis by chartered surveyors who are employees of the charity, under the supervision of Mr David Arthur, Director of Estates and Planning, who is himself a fellow of the Royal Institution of Chartered Surveyors and an employee of the charity.

Blind Veterans UK subscribed to the Memorandum of Association of Blind Veterans Trading Limited (a company limited by guarantee) on its incorporation on 6 December 2007. The company’s profit and loss account and balance sheet is included in the consolidated accounts. The company’s profit and loss account and balance sheet for the year ended 31 March 2015 are:

42 41

8 Investments Blind Veterans Trading Limited Charity & Profit and loss account 2015 Balance sheet 2015 Group £’000 £’000 2015 Building contract income and £’000 commission 1,202 Current assets 212

Balance at 1 April 2014 113,553 Sales 54 Creditors (211) Less: Cost of sales (1,203) Unrealised gains 8,515 Gross trading profit 53 Net current assets 1 Realised gains 287 Net assets 1 Investment management fees paid directly from portfolios (260) Other fees and expenses (53) Property transfers into investment properties 360 Operating profit before interest - Reserves 1 Sale of investment properties (2,104) Profit (loss) for the year - Repayment of beneficiary mortgages (61) Interest - Drawdown from investment portfolios (2,000) Loss on ordinary activities before Other 264 taxation -

Balance at 31 March 2015 118,554 Taxation - Profit (loss) for the year -

2014 2015 £’000 £’000 Being: 91,250 UK listed investments 95,475 Blind Veterans UK purchased the interests of Four Seasons NWMC Housing Limited in May 2008. The 1,629 Unlisted investments 1,607 company’s profit and loss account and balance sheet for the year ended 31 March 2015 are: 1,258 Beneficiary mortgages 1,197 19,416 Investment properties 20,275 Four Seasons NWMC Housing Limited

Profit and loss account 2015 Balance sheet 2015 113,553 118,554 £’000 £’000 Service charges, sales and ground rents 107 Current assets 42

The cost of UK listed investments at 31st March 2015 was £81.5 million (2014: £82.8 million), unlisted Less: Cost of sales 88 Creditors (27) investments £1.3 million (2014: £1.2 million) and investment properties £3.8 million (2014: £3.5 million). Gross profit 19 Net current assets 15 Independent (external) valuations for each investment property are obtained from registered chartered surveyors Other fees and expenses (19) on an existing-use basis every five years (20 per cent of investment properties held are valued independently Provision for property management each year on a rotation basis). The remaining investment properties have been valued on an existing-use basis Operating profit before interest - commitments (13) by chartered surveyors who are employees of the charity, under the supervision of Mr David Arthur, Director of Estates and Planning, who is himself a fellow of the Royal Institution of Chartered Surveyors and an employee of Interest income 1 the charity. Interest payable (1) Net assets 2 Exceptional Items - Blind Veterans UK subscribed to the Memorandum of Association of Blind Veterans Trading Limited (a company Profit on ordinary activities before limited by guarantee) on its incorporation on 6 December 2007. The company’s profit and loss account and taxation - balance sheet is included in the consolidated accounts. The company’s profit and loss account and balance sheet for the year ended 31 March 2015 are: Taxation - Shareholders funds 2

Profit (loss) for the year -

43 41 42

9 Debtors

Group Charity Group Charity 2014 2014 2015 2015 £’000 £’000 £’000 £’000

783 783 Legacies receivable 1,029 1,029 215 215 Accrued income 787 787 188 188 Prepayments 180 180 157 157 Gift Aid receivable 196 196 80 28 Loans and stock 117 29 - - VAT receivable 310 212 4 146 Amounts due from subsidiary undertakings 6 137 261 261 Other 205 205

1,688 1,778 2,830 2,775

The charity is expecting to receive legacies for an estimated value of £5.5 million that have not been included in the accounts, as the amount receivable at year end was not certain.

The charity was notified in the 1990s of a substantial legacy of £8 million, which has not been included in the accounts, as there is a life interest in the income from the legacy investment.

10 Creditors: Amounts falling due within one year

Group Charity Group Charity 2014 2014 2015 2015 £’000 £’000 £’000 £’000

278 263 Taxes and social security 289 289 502 492 Creditors 665 639 580 580 Accruals 608 554

1,360 1,335 1,562 1,482

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9 Debtors

11 Fund accounts Group Charity Group Charity Movement in funds 2014 2014 2015 2015 £’000 £’000 £’000 £’000 Transfer Net gains from Charity & 783 783 Legacies receivable 1,029 1,029 31 March Incoming less restricted Group 215 215 Accrued income 787 787 2014 resources expend. fund 2015 £’000 £’000 £’000 £’000 £’000 £’000 188 188 Prepayments 180 180 Sir Arthur Pearson 55,418 1,245 1,577 58,240 - 58,240 157 157 Gift Aid receivable 196 196 Restricted Fund 80 28 Loans and stock 117 29

Other restricted funds - - VAT receivable 310 212 Diana Gubbay Trust for 4 146 Amounts due from subsidiary undertakings 6 137 288 5 15 308 - 308 261 261 Other 205 205 the Blind Capital fund 5,564 1,250 - 6,814 (91) 6,723 Other 1,144 956 (544) 1,556 (705) 851 1,688 1,778 2,830 2,775 Total other restricted 6,996 2,211 (529) 8,678 (796) 7,882 funds The charity is expecting to receive legacies for an estimated value of £5.5 million that have not Unrestricted fund 96,580 23,711 (24,292) 100,048 796 100,844 been included in the accounts, as the amount receivable at year end was not certain. Pension reserve (9,357) (13,406) (13,406)

The charity was notified in the 1990s of a substantial legacy of £8 million, which has not been Total 149,637 27,167 (23,244) 153,560 - 153,560 included in the accounts, as there is a life interest in the income from the legacy investment.

10 Creditors: Amounts falling due within one year The Diana Gubbay Trust for the Blind is administered by Blind Veterans UK to provide relief to former emergency services personnel blinded on duty. Group Charity Group Charity 2014 2014 2015 2015 Capital Fund is made up of funds raised for the opening of our Llandudno centre (£4.47 million), for £’000 £’000 £’000 £’000 the refurbishment of our Brighton centre (£1 million) and for the renovation of outbuildings at our

Llandudno centre, so we can provide a life skills centre (£1.25 million) 278 263 Taxes and social security 289 289 502 492 Creditors 665 639 Other restricted funds include certain endowments, which are not material and therefore not 580 580 Accruals 608 554 separately specified.

1,360 1,335 1,562 1,482 Transfers represent a mix of acquisitions, disposals and depreciation during the year.

45 43 44

12 Analysis of net assets between funds

funds

Sir Arthur Pearson Restricted Other restricted Unrestricted Pension reserve Total unrestricted group Total charity

Fund balances at 31 March 2015 £’000 £’000 £’000 £’000 £’000 £’000 are represented by:

Tangible fixed assets - - 43,403 - 43,403 43,403

Investments 58,240 744 59,570 - 59,570 118,554

Net current assets - 7,138 (2,129) - (2,129) 5,009

Non-current liabilities - - - (13,406) (13,406) (13,406)

Total net assets 58,240 7,882 100,844 (13,406) 87,438 153,560

13 Employee information and staff costs Charity Charity & Group & Group (a) The monthly average number of equivalent full-time persons 2015 2014 employed by Blind Veterans UK during the year was 375 (2014: No. No. 358) who were engaged upon:

Provision of services for members at Blind Veterans UK 239 234 Provision of welfare and housing services, employment and activities 66 54 Resource management 70 70

375 358

Expenditure includes the following staff costs: £’000 £’000

(b) Wages and salaries paid to employees 11,164 10,589

Employer’s national insurance contributions 1,005 920

Employer’s pension costs 1,740 1,696

No trustee receives emoluments for employment services. 13,909 13,205

No employee received emoluments above £90,000 (2014: one) Two employee received emoluments within the band £80,000 to £90,000 (2014: one) Three employees received emoluments within the band £70,000 to £80,000 (2014: four) No employee received emoluments within the band £60,000 to £70,000 (2014: one)

Employer pension costs in respect of the higher-paid employees amounted to £48,111 (2014: £70,776). Contributions were made to the defined retirement benefits scheme for three higher-paid employees who commenced employment before 30 September 2007. Contributions of £37,262 were made to the Group Personal Pension Plan for higher-paid employees who commenced employment after 30 September 2007.

46 45

12 Analysis of net assets between funds

& 14 Staff retirement benefit scheme

funds Blind Veterans UK operates a contributory pension scheme providing benefits based on final pensionable pay. This scheme was closed to new members on 30 September 2007. The assets

Sir Arthur Pearson Restricted Other restricted Unrestricted Pension reserve Total unrestricted group Total charity of the scheme are held separately from those of Blind Veterans UK and are administered by a separate board of trustees. The pension fund holds a charge over the charity’s property at Fund balances at 31 March 2015 £’000 £’000 £’000 £’000 £’000 £’000 Brighton to the amount of £2.2 million. are represented by: An actuarial valuation was carried out at 1st April 2011. The results of that valuation have been Tangible fixed assets - - 43,403 - 43,403 43,403 st projected to 31 March 2015 and then recalculated based on the following assumptions: Investments 58,240 744 59,570 - 59,570 118,554 31 March 31 March 31 March 31 March 31 March 2015 2014 2013 2012 2011 Net current assets - 7,138 (2,129) - (2,129) 5,009 Salary increases 2.40% 2.90% 2.80% 2.70% 4.15%

Increases to pension in payment Non-current liabilities - - - (13,406) (13,406) (13,406) - Pre April 1997 3.00% 3.00% 3.00% 3.00% 3.00%

- Post April 1997 3.60% 3.60% 3.50% 3.40% 3.65% Total net assets 58,240 7,882 100,844 (13,406) 87,438 153,560 Liability discount rate 3.30% 4.50% 4.30% 4.90% 5.70% Inflation 3.10% 3.60% 3.50% 3.40% 3.65% 13 Employee information and staff costs Revaluation of deferred Charity Charity pensions 2.40% 2.90% 2.80% 2.70% 3.65% & Group & Group (a) The monthly average number of equivalent full-time persons 2015 2014 The assets in the scheme and the expected rate of return were: employed by Blind Veterans UK during the year was 375 (2014: No. No. 358) who were engaged upon: Long- Long- Long- term rate term rate term rate Provision of services for members at Blind Veterans UK 239 234 of return of return of return

Provision of welfare and housing services, employment and activities 66 54 expected expected expected Resource management 70 70 at Value at at Value at at Value at 31 Mar 15 31 Mar 15 31 Mar 14 31 Mar 14 31 Mar 13 31 Mar 13 375 358 £’000s £’000s £’000s

Equities n/a 23,055 6.70% 22,610 5.85% 20,356 Expenditure includes the following staff costs: £’000 £’000 Bonds n/a 8,883 3.50% 7,606 2.90% 7,439

(b) Property n/a 1,525 6.70% - 5.85% - Wages and salaries paid to employees 11,164 10,589 Alternatives n/a 1,572 6.70% 1,169 5.85% 606 Employer’s national insurance contributions 1,005 920 Cash n/a 610 0.50% 415 2.35% 2,041 Employer’s pension costs 1,740 1,696 Total market value of assets 35,645 31,800 30,442

No trustee receives emoluments for employment services. 13,909 13,205

The liabilities are determined using the projected unit method. Under the projected unit method, the current service costs will increase as the members of the scheme approach retirement. The mortality assumption used was the 92 series base tables. (c) Higher-paid employees: On this basis, the balance sheet figures in respect of the scheme at 31 March 2015 are as No employee received emoluments above £90,000 (2014: one) follows: Two employee received emoluments within the band £80,000 to £90,000 (2014: one) Three employees received emoluments within the band £70,000 to £80,000 (2014: four) 31 Mar 15 31 Mar 14 31 Mar 13 31 Mar 12 31 Mar 11 No employee received emoluments within the band £60,000 to £70,000 (2014: one) £’000s £’000s £’000s £’000s £’000s

Employer pension costs in respect of the higher-paid employees amounted to £48,111 Market value of assets 35,645 31,800 30,442 27,191 26,351 (2014: £70,776). Contributions were made to the defined retirement benefits scheme for three higher-paid Value of accrued liabilities (49,051) (41,157) (40,880) (34,987) (33,155) employees who commenced employment before 30 September 2007. Contributions of £37,262 Deficit (13,406) (9,357) (10,438) (7,796) (6,804) were made to the Group Personal Pension Plan for higher-paid employees who commenced employment after 30 September 2007.

47 45 46

The actuary has excluded from both assets and liabilities items which have a neutral effect on the scheme’s financial position i.e. additional voluntary contributions, annuities secured in respect of pensions in payment and insurance contract for death in service benefits.

Analysis of charge to the statement of financial activities over the financial year:

2015 2014 £’000s £’000s Operating charge Current service cost 769 743 Past service cost - - Total operating charge 769 743

Other finance income Expected return on pension scheme assets 1,842 1,370 Interest on pension scheme liabilities (1,746) (1,741) Net charge (96) (371) Total charge to the statement of financial activities 865 1,114

Gains and losses included within the statement of financial activities

2015 2014 £’000s £’000s Difference between expected and actual return on assets 2,197 392

Experience gain (loss) arising on the scheme liabilities (6,480) 670 Total (4,283) 1,062

Balance sheet surplus/(deficit) figures during the year 2015 2014 £’000s £’000s Deficit in scheme at 31 March 2014 (9,357) (10,438) Movement in year Current service cost (769) (743) Past service cost - - Net interest/return on assets (96) (371) Contributions 1,099 1,133 Actuarial gain/(loss) (4,283) 1,062 Deficit in scheme at 31 March 2015 (13,406) (9,357)

During the year, employer contributions have been paid at the rate of 15 per cent of pensionable pay (2014: 15 per cent), as well as an additional employer contribution amount of £531,000. Active members contribute at the rate of 5 per cent of pensionable pay (2014: 5 per cent).

48 47

The actuary has excluded from both assets and liabilities items which have a neutral effect on History of experience gains and losses: the scheme’s financial position i.e. additional voluntary contributions, annuities secured in respect of pensions in payment and insurance contract for death in service benefits. Difference between expected and actual return on scheme Analysis of charge to the statement of financial activities over the financial year: assets 2015 2014 2013 2012 2011 - amount (£’000) 2,197 392 1,791 (808) 153 2015 2014 £’000s £’000s - percentage of the scheme assets 6% 1% 6% (3%) 0.6% Operating charge Current service cost 769 743 Experience gains and losses on Past service cost - - scheme liabilities - amount (£’000) (6,480) 670 (4,409) (401) 1,381 Total operating charge 769 743

- percentage of the present value Other finance income of the scheme liabilities (13%) 2% (11%) (1%) 4% Expected return on pension scheme assets 1,842 1,370 Total recognised actuarial gains Interest on pension scheme liabilities (1,746) (1,741) and losses Net charge (96) (371) - amount (£’000) (4,283) 1,062 (2,618) (1,209) 1,534 Total charge to the statement of financial activities 865 1,114 - percentage of the present value Gains and losses included within the statement of financial activities of the scheme liabilities (9%) 3% (6%) (3%) 5%

2015 2014 From 1 October 2007, Blind Veterans UK has operated a Group Personal Pension Plan (GPPP) £’000s £’000s with Friends Provident for staff commencing after this date. The Friends Provident GPPP is Difference between expected and actual return on assets 2,197 392 government registered and meets all legislative requirements. The plan enables each employee to build up an individual pension fund in their own name, making their own choice about how Experience gain (loss) arising on the scheme liabilities (6,480) 670 much they contribute. Staff who join are not required to make contributions, but Blind Veterans Total (4,283) 1,062 UK matches any contributions made according to a defined contributions table. The money in the fund is invested on the employee’s behalf, and when they retire the fund is used to buy their pension. Part of the fund may also be used to provide a tax-free lump sum. Balance sheet surplus/(deficit) figures during the year 2015 2014

£’000s £’000s Deficit in scheme at 31 March 2014 (9,357) (10,438) 15 Capital commitments

Movement in year Current service cost (769) (743) Contracted capital commitments of £1.6 million existed as at 31 March 2015 (2014: £1.1 million). Past service cost - - This consists of: outstanding works on the Brighton residential floors refurbishment project £0.04 Net interest/return on assets (96) (371) million (2014: £1.1 million); outstanding works on Llandudno outbuildings conversion £1.5 million Contributions 1,099 1,133 (2014: £Nil); outstanding works on Llandudno centenary woodland garden £0.05 million (2014: Actuarial gain/(loss) (4,283) 1,062 £Nil); outstanding works (retention amounts) in respect of the centre at Llandudno £Nil (2014: Deficit in scheme at 31 March 2015 (13,406) (9,357) £0.01 million); and outstanding works (retention amounts) in respect of the Brighton window replacement programme £0.01 million (2014: £0.01 million).

49 47 48

Blind Veterans UK

Patron HER MAJESTY THE QUEEN

Founder The Late Sir Arthur Pearson, Bt, CBE President Raymond L Hazan, OBE

Vice-Presidents Vice-Patrons François W Edwards HRH Crown Prince Pavlos of Greece Captain Michael C Gordon-Lennox, OBE, RN Admiral Sir Jonathon Band, GCB, DL Major General Andrew M Keeling CB, CBE General Sir Peter de la Billière, KCB, KBE, DSO, MC, DL Air Chief Marshal Sir Joe French, KCB, CBE Rear Admiral Sir Donald Gosling, KCVO General The Lord Richards GCB,CBE, DSO

Chairman Timothy J B Davis

Vice-Chairman Air Vice Marshal Paul Luker, CB, OBE, AFC, DL

Honorary Treasurer Anthony Fletcher

Members of Council and Trustees Timothy R Bacon Kerry Levins Colonel Mike Brooke, OBE Air Vice Marshal Paul Luker, CB, OBE, AFC, DL* Timothy J B Davis * Rear Admiral Stephen Meyer Raymond L Hazan, OBE Paul Palmer Anthony Fletcher * Andrew Ross Major General David S Jolliffe, CB FRCP Major General David Rutherford-Jones, CB Sarah-Lucie Watson The Lady Walker * Members of the Finance committee Penny Harris

Chief Executive Major General (Rtd) Nick Caplin CB

Auditors Crowe Clark Whitehill LLP, Chartered Accountants and Registered Auditors, St Bride’s House, 10 Salisbury Square, London EC4Y 8EH

Bankers Barclays Bank Plc, Hampstead & Whetstone Corporate Banking Centre, PO Box 12820, London N20 0WE

Investment Managers Cazenove Capital Management Ltd., 12 Moorgate, London EC2R 6DA Jupiter Asset Management, 1 Grosvenor Place, London SW1X 7JJ

Solicitors Bircham Dyson Bell, 50 Broadway, London SW1H 0BL Sackers, 20 Gresham Street, London EC2V 7JE Woolley Bevis & Diplock, 15 Prince Albert Street, Brighton, East Sussex BN1 1HY

Registered Office 12–14 Harcourt Street, London W1H 4HD A company limited by guarantee No. 189648, registered in England The charity is incorporated under its memorandum and articles of association originally dated 30 April 1923 and most recently amended on 27 January 2012. Registered Charity number: 216227 Scottish Registered Charity number: SC039411

50 49

Blind Veterans UK

Patron HER MAJESTY THE QUEEN

Founder The Late Sir Arthur Pearson, Bt, CBE President Raymond L Hazan, OBE

Chairman Timothy J B Davis

Vice-Chairman Air Vice Marshal Paul Luker, CB, OBE, AFC, DL

Honorary Treasurer Anthony Fletcher

Chief Executive Major General (Rtd) Nick Caplin CB

Auditors Crowe Clark Whitehill LLP, Chartered Accountants and Registered Auditors, St Bride’s House, 10 Salisbury Square, London EC4Y 8EH

Bankers Barclays Bank Plc, Hampstead & Whetstone Corporate Banking Centre, PO Box 12820, London N20 0WE

Investment Managers Cazenove Capital Management Ltd., 12 Moorgate, London EC2R 6DA Jupiter Asset Management, 1 Grosvenor Place, London SW1X 7JJ

Solicitors Bircham Dyson Bell, 50 Broadway, London SW1H 0BL Sackers, 20 Gresham Street, London EC2V 7JE Woolley Bevis & Diplock, 15 Prince Albert Street, Brighton, East Sussex BN1 1HY

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