We have audited the financial statements of Royal National Institute of Blind People for the year ended 31 March 2011 which comprise the Consolidated Statement of Financial Activities, the Group and Parent Charity Balance Sheets, the Group Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Respective responsibilities of trustees and auditors
As explained more fully in the "Statement of Trustees’ Responsibilities" section earlier in this report, the trustees are responsible for the preparation of financial statements which give a true and fair view.
We have been appointed as auditors under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under section 43 of the Charities Act 1993 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.
This report, including the opinions, has been prepared for and only for the charity’s trustees as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and Regulation 30 of The Charities (Accounts and Reports) Regulations 2008 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and parent charity’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and nonfinancial information in the RNIB Group Annual Report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on financial statements
In our opinion the financial statements:
give a true and fair view of the state of the group’s and parent charity’s affairs as at 31 March 2011 and of the group’s incoming resources and application of resources and cash flows, for the year then ended
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
have been prepared in accordance with the requirements of the Charities Act 1993, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
the information given in the RNIB Group Annual Report is inconsistent in any material respect with the financial statements; or
proper accounting records have not been kept by the parent charity; or
Net (outgoing) incoming resources before transfers
Transfers between funds
Net (outgoing) incoming resources before other recognised gains and losses
Net gains on investment assets
Actuarial gain (loss) on defined benefit pension scheme
Net movement in funds
Total funds brought forward
Total funds carried forward
A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities. Incoming resources of the Charity during the year were £101,395,000 (2010: £103,493,000) less resources expended by the Charity at £107,563,000 (2010: £116,535,000) led to a deficit of £6,168,000 (2010: £13,042,000). All incoming resources, resources expended and resulting net movements in funds are derived from continuing activities.
The notes that follow form part of the financial statements.