We have audited the financial statements of Royal National Institute of Blind People for the year ended 31 March 2013 which comprise the Consolidated Statement of Financial Activities, the Group and Parent Charity Balance Sheets, the Group Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Respective responsibilities of Trustees and auditors
As explained more fully in the Statement of Trustees’ Responsibilities the trustees are responsible for the preparation of financial statements which give a true and fair view.
Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only for the Charity’s Trustees as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under section 144 of the Charities Act 2011 and regulations made under those Acts (regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and Regulation 30 of The Charities (Accounts and Reports) Regulations 2008) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and parent charity’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and nonfinancial information in the RNIB Group Annual Report and Financial Statements to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
give a true and fair view of the state of the Group’s and parent Charity’s affairs as at 31 March 2013 and of the Group’s incoming resources and application of resources and cash flows, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and regulation 15 of The Charities (Accounts and Reports) Regulations 2008.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as amended) and Charities Act 2011 require us to report to you if, in our opinion:
proper accounting records have not been kept by the parent Charity; or
the parent charity financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Chartered Accountants and Statutory Auditors
PricewaterhouseCoopers LLP is eligible to act, and has been appointed, as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and section 144(2) of the Charities Act 2011.
Consolidated statement of financial activities for the year ended 31 March 2013
Unrealised gain from revaluation of property held for sale
Net gains on investment assets
Actuarial (loss) gain on defined benefit pension schemes
Net movement in funds
Total funds brought forward at 1 April 2012
Total funds carried forward at 31 March 2013
A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities. Incoming resources of the Charity during the year were £106,223,000 (2012: £98,678,000) less resources expended by the Charity at £105,406,000 (2012: £101,220,000) led to a surplus of £817,000 (2012: deficit of £2,542,000). All incoming resources, resources expended and resulting net movements in funds are derived from continuing activities. The Isle of Man government require that we disclose the income and expenditure in the Isle of Man which amounted to £161,000 (2012: £160,000) and £191,000 (2012: £153,000) respectively. The notes that follow form part of the financial statements.