RSBQ Royal soci￿y10r81lnd Chlldron THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES, REPORT & CONSOLIDATED ACCOUNTS YEAR ENDED 31ST DECEMBER 2020 Charity Number: Company Number: 307892 00139928 WELCOME TO THE ROYAL SOCIEfY FOR BLIND CHILDREN'S ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2020 REFERENCE AND ADMINisfRATIVE DETAILS Charity Name The Royal Society for Blind Children (RSBC) Working Name RSBC Charity Number 307892 (England & Wales) Company Number 00139928 (England & Wales) Registered and Principal Office Orpington Campus The Walnuts Hlgh Street Orpington Kent BR6 OTE (effective from l October 2020) Royal Patron Her Majesty The Queen President The Rt Hon Sir Michael Fallon KCB Patrons Martin Freeman Honeysuckle Weeks Vice-Presidents Earl of Stockton John Lafferty Vivian Lawrence Harry O'Neill Philip Bassett Dr. David Wright MBE Ambassadors Souleyman Bah, Youth Ambassador Jon Culshaw Anita Dobson Anne Fine OBE FRSL Darren Leach Natalle Lee Charlotte Mcmillan, Youth Ambassador Georgie Morrell Ben Quilter Melissa Reid Sir Richard Stilgoe OBE Wayne Sleep OBE Jayne Torvill OBE Medical Advisory Panel Mr Waglh Aclimandos MB Bch FRCS FRCOphth DO FEBO Dr Naomi Dale Mr Ashwln Reddy MA MBBChir FRCOphth MD Professor Mlles Stanford MD FRCP FRCOphth Members of the Council of Trustee5 Ian Stephenson OBE BSC MSC Ben Alonso (resigned 12th April 2021) Michael Brignall MA (Oxon) Martin Doel CBA MA BEd FRAeS FRSA lan Godwln BSC Fazllet Hadi John Heller MA (Cantab) Peter Knott BA (Hons) FCA CF Val May BA (Hons) John Miller Patrick Plant LLB Sollcitor Chaimian of the Society Hon. Treasurer Company Secretary Eileen Hardlng Chief Executive Tom Pey PhD MA FCMA DBS (Retired 5 Aprll 2021) Deputy Chlef Executlve Sue Sharp MA (Hons) Msc (Appointed as Chief Executlve on 5 April 2021) Auditors Haysmacintyre LLP 10 Queen Street Place London EC4R IAG Bankers C Hoare & Co 37 Fleet Street London EC4P 4DQ Barclays Bank One Churchill Place London E14 SH Legal Advisers Reed Smith Broadgate Tower 20 Primrose Street London EC2A 2RS Investment Managers Cazenove Capital Management 12 Moorgate London EC2R 6DA THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Thls document sets out the Trustees, Report and Accounts for The Royal Soclety for Blind Children for the year ended 31 December 2020. This is done under the Companies Act 2006, the Charities Att 2011 and the Statement of Recommended Practice (2 nd edition) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2015). The charity is privileged to have the patronage of Her Majesty The Queen. RSBC is the working name of The Royal Society for Bllnd Children. The Royal Soclety for Blind Children was founded in 1838. It is a charitable company Ilmited by guarantee (Company No. 139928), incorporated on 12 April 1915 with Memorandum and Articles of Association (last amended 20 December 2016), and registered as a charity on 25 April 1963 (Charity No. 307892). The registered and principal office is Orpington Campus, The Walnuts, High Street, Orpington, Kent 8R6 OTE (effective from l October 2020). INTRODUCING THE ROYAL SOCIEfY FOR BLIND CHILDREN For over 180 years, The Royal Society for Blind Chlldren (RSBC) has been educating and supporting blind and partially sighted children and young people and their families. Our founder, Thomas Lucas, set up a school to teach blind children to read in 1838. Nearly two centuries later, his vision to support blind children to fulfill their potential lives on. Today our team works across a range of services in local communities across England and Wales Including family support, reducing isolatlon and loneliness, increasing independence and employment. We also continue to dellver education through the work of our specialist FE College, Dorton College, based in the London Borough of Bromley. Our work Is Influenced by world-class child educationalists, psychologists and ophthalmologists. OUR VISION No child in the UK will grow up to be poor or lonely just because they are blind. There are Just under 37,000 bllnd and partially sighted chlldren and young people in England & WalesL Every day four more families receive a diagnosis of their child's sight loss. At RSBC, we understand that the hardest thing about childhood sight 1055 isn't that children can't see, it is that those children are more likely grow up to live in poverty and isolation. 900/0 of those who lose their sight in youth won't work for more than six months in their lives. ' RNIB Sight LossTool120201 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Nearly 70% of blind and partially sighted young people are living on the poverty line. Most will never have someone to share their life with. RSBC belleves In a better future for blind chlldren and young people. We are a national Vl charity in the UK where services are designed to support the whole family on thls journey and where the parents, whenever possible, are at the centre of their child's development. The objectives of the Sodety's five-year strategy (2015-20) were to: Increase reach and service delivery: to support 11,000 chlldren and young people and their familles In five years and 22,000 in ten years. Achieve major growth in fundraising: to significantly increase the amount of money we raise to ensure that we can respond to the increasing demand for our services. Establish a hub of excellence: to build a Life Without Limlts Centre from the proceeds of a successful capital appeal within five years. We have pursued those objectives by: uttin rents fir Supporting them to gain the skills to best meet the needs of their child and wider family.. parents are uniquely placed to support their child's development. RSBC does not replace nor subvert the parent's function we support them to learn the additional skills they will need to pass on to their bllnd child. This will strengthen family bonds, allowing chlld and parent5 to grow in confidence together. Supportlng them to make and tain friends, achieve appropriate levels of formal education and galn employability and independent life skllls. ein thou htl Applying the most modem and tested approaches to the development of our servlces, as well as inspirlng others to innovate on behalf of blind children. PUBLIC BENEFIT The Trustees have oiven due consideration to the Charity Commlssion's general guidance on public benefit in setting its aims, objectives and policies. The activitie5 undertaken to further this purpose, and the impact that these activlties have had, are explained In the following section. THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 2020 was the final year of our"No blind child" strategy and we ended the period: a leaner, more aglle and more efficient organlsation" serving more children, young people and families than at any other time In our historyi and with hlgh satlsfactlon rates for our services, and a hlghly committed staff and volunteer team In achleving that, we experienced much change over the strategic perlod but perhaps none so intense a5 the changes in 2020. We began the year with little knowledge of COVID-19 and no idea of how deeply It would impart the Soclety's work. Within a few weeks of the first lockdown, we had moved all of our services on-line, including our education provision at Dorton College, enabling us to continue to support our beneficiaries and students throughout the pandemlc. None of our services closed - they slmply operated differently. Recognlslng the challenge that COVID presented to the staff team we kept a focus on ensuring that RSBC is a great place to work and as a result staff morale remained buoyant. Staff surveys were carried out in the flrst 6 months and they showed that the staff team felt well-supported by the Society. Whilst we had to place around 18 % of our workforce on furlough, we ensured that they were able to remain connected to the Society and, helped by securing additional support from funders, they did not suffer financlal hardship whilst on furlough. By the end of October 2020 seven of those furloughed had returned to work and seven others had left the organisatlon as their posts were made redundant. The Society We are deeply grateful to the staff and volunteers of the Society who rose to the challenge to effect the transformation so quickly and efficiently despite having to cope themselves with the impact of the pandemic, a move to home working and complete reliance on digital communication. Their commitment, resillence and flexibility were never tested so much or over such a long period, and they delivered. We are grateful too to some of our key funders in particular the National Lottery Community Fund, London Funders, City Bridge Trust and Comlc Rellef for providing relief funding, alongside the Social Investment Business FM Ltd for providing a Business Interruption Loan to the Society. These funding sources helped to address the significant shortfall in our income In 2020. Opportunities to fundraise through Community and Events were denied us, with the cancellation of events and restrictions on our supporters undertaking challenges and fundraising locally. Face- to-face recruitment of new donors to the Society was also halted but we were grateful to our loyal and committed existing donor base who continued to support us throughout the year. The commitment of our staff team and the generosity of our supporters and funder5 ensured that we were able to continue to support the blind chlldren and young people, and thelr families, throughout the year. THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 "I don't know [what I would have done without the sessions], I really don* know, RSBC has Just Ilke helped me through everything. Emma, 12 years-old, October 2020 In 2020 we reached more beneficlarles than ever before and the satisfaction with our servlces was higher than ever (see below). SERVICES Overall, in 2020 we: worked with over 3000 children and young people and their families; had over 8000 contact hours; delivered over 3000 sessions: provided 1000 instances of advice and support. and achieved our highest level of beneficiary satisfaction Comparing Results of the Satisfaction Survey from 2014 to 2020 ( % scoring 8+) loo 90 80 70 60 50 40 30 20 io 2014 2015 2015 2016 2017 2018 2019 2020 SatI￿actIon level DHOW likely to recommend Graph - Percentage of service users to score more than 8 from 2014 to 2020 With the exception of RSBC'S Dorton College (see below) we were prevented from delivering our services face-to-face from the end of March 2020. In the space of 10 days we had moved to on-line and telephone based delivery, ensuring that we were able to continue to support the children, young people and families. On-line delivery has enabled many more children and young people to participate In activities and meet new friends regardless of their location: Elizabeth (22) has been a regular attendee of the Creative Group slnce Ottober 2020. Based in Sheffield, she sald that the virtual sessions have been a great way for her to feel that she still has access to a social life and meet other vision impaired young THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 people, despite lockdown measures being in place. She Is a keen member of our Open Mic sessions, which are helping her to develop the confidence to work towards her ambition of singing before a larger audience. We also grew our network of partners across England and Wales to 45 organisations from within the vlsion Impalrment sector as well as the broader youth sector. Through them we have also been able to engage with more chlldren and young people. One young person took part in one of Henshaws. beatboxing workshops and enjoyed it so much that he signed up for an advanced course with the provider. They were so impressed by his contributions that they have offered hlm the chance to help deliver future workshops once his training is complete. He said: "It was fantastic! the team were brllllant, and so Inspiring that I knew I wanted to take it further.- Familles Flrst Our Families First Programme, provides therapeutlc and prartScal support to famllles, children and young people up to 25 years. A unique feature of our programme is that we are able to offer face-to-face support visiting the family in their home, or visiting a child in their school to offer dirett therapeutic work, using evidence-based therapeutic interventions to improve mental health and wellbelng, building confidence, self-esteem and resilience, while working in partnership with other professionals within the family network. In April 2020, that face-to-face support was suspended and replaced by onllne support via digital video platforms, as well as telephone contact and email communication. We are grateful to our funders for recognising the change to the delivery model and for contlnulng to support the programme throughout the year. Overall, in 2020 we more than doubled the number of families we were able to support in year - up from 900 in 2019 to 1976 in 2020. The digital delivery has enabled us to offer support families in areas across England and Wales which are not yet serving with the face-to-face service. Whilst the way that families engage with the service has been different for much of 2020, it Is pleasing to report that feedback from the families demonstrates that they have continued to benefit and that they have appreciated the constant, if virtual, p￿sence of the Family Prartitioner in their families, lives. 91 % of respondents to our annual beneficiary satisfaction survey rated the service at least 8 out of 10 and 52Q/o gave it a score of 10 out of 10. We wlll return to face-to-face engagement as soon as COVID restrictions allow. We fully expert that the demand for the service will be increased as families begin to work through issues that have arisen over the year and as they adjust to the "new normal". We will, however, also retaln elements of the onllne service so that we are able to support more families in ways that work well for them. This will also complement our THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 advice servlce whlch already supports families to access benefits and other support to whlch they are entitled. In 2020 the advice service supported 213 families helping them to secure benefits, grants and other support to a total value of £193,737. As well as guiding them through the benefits and grants application processes. we helped many of them to secure practical items to make their lives more manageable, for example, a bed for a mother that was sleeping on the floor and some clothing vouchers for children that had no wlnter coats. Lucy (16) was coplng with a sudden slght deterioration as well as transitlon to college. she was struggling with high anxiety in part due to the new technology required to access college online. Having online sessions with the Family Practitioner (FP) built up confidence and skllls In using technology, and the FP has noticed a change in Lucy'5 anxiety and confidence levels. She is now better able to engage with online learning and articulate any concerns and thls has Improved her self-esteem. The FP observed that there has also been an Impact on her parents who are feeling more positive and confident. Lucy sald, "I feel proud of who I am now. Live Life, Go Further Our Llve Llfe Go Further (LLGF) programme offers a tailored programme of activities that provide opportunities for vision impaired children and young people to build friendships, grow In confidence and develop ski115 for life. Each participant is able to ch005e the elements of the programme that most appeal to them and, through their participation, work towards the achievement of their personal goals. In 2020, as never before, it was vital that we are able to continue to offer this programme to children and young people who found themselves even more isolated from friends and family. All of our activities were delivered using Zoom, Teams and other digital communication platfonrjs to bring the children and young people together and help them stay connected. This approach also provided new opportunities for young people to engage in activities and forge new friendships with others in different part5 of England and Wales. Listening to feedback from young people we were also able to develop the Live Life Go Further programme, introducing new activities, including: a weekly audio book club for young people Sisterhood a weekly forum for young vislon impaired women to meet to discuss i55ue relevant to them fortnightly gaming and assistive tech sesslon alongslde: fortnightly supper clubs where young people can eat together and socialise fortnightly create sessions where the young people can express their musical and artistlc talents weekly health and wellbeing sessions to encourage young people to engage in sport and physical activity THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 By engaging online we were also able to offer activities more frequently than when delivery was only face-to-face. This has been particularly important for the wellbeing of the young people during the periods of lockdown and restrictions that they have faced throughout 2020. "I dld not know RSBC before the lockdown so I did not benefit from the F2F activities before. I would have felt very lonely and bored without the RSBC workshops." "JIM Is out of the usual activity area and doesn't know anyone else in the a￿a with VI, so being able to meet some other VI young people, even though Its over Zoom has been great, we would like these sessions to contlnue!" -I've had the chance to meet up more than I would doing face-to-face se55ions. The maln thlng Is that I applied for and got a job, and RSBC helped me achieve that, building my confidence and getting ready for the interviews." -The RSBC has helped me endure this pandemic. through the Zoom meetings. Meetlng people who I have not met before has been so enjoyable. Every dayi have something to do and to look forward to. While on my own in the house, I am never bored." "Caitlyn Is really enjoylng the sesslons, It's really bringing her back to her usual self, lockdown has left her a little lost, so the focus is goodl" In all, 1195 children and young people took part in the programme in 2020 including Sarah who has a number of health issues and impairment in addition to being registered severely sight impaired. Since attending RSBC sessions Sarah has gone from being shy, qulet and reserved to someone who is a confident speaker, has a positive outlook, is supportive of others, modest and not afraid to ask for help. Earlier in the year, she struggled to attend face-to-face sessions regularly because her weak immune system meant that she was unable to use public transport. Our online Service provision was, therefore, a welcome development, meaning that she could partlclpate In a number of sessions each week. This was particularly important to Sarah'5 wellbeingi as she was required to shield at home for most of 2020 and wa5 negatively affected by the lack of social Interaction. By attending RSBC activities, Sarah has been able to connect and create friendships wlth VI young people up and down the country, providing her with the social interaction She was missing. "They [Virtual Sessions] have been a godsend for us, as Sarah has been shielding at home with myself since March and unable to go Into school due to her compromlsed immune system.- Sarah's Mum The RSBC Health and Wellbeing Onllne Morning Workout Group have an age range of 9-25 and each mernber has individual requirements in terms of their vlsion impalrment, health, mobility and access. At the beginning of lockdown, online home workouts became popular across the country but many of our young people found that these were io THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 not accessible because there was no verbal description or introduction to the exercises and the pace of the videos was too fast. Instead of enabling Vl young people to be physically active, it became a barrier. We introduced RSBC Online Morning Workouts to provide VI young people with access to regular physical activity that is adapted to suit thelr needs. We tailor the sessions to suit members, ability, mobility, varylng levels of sight loss and home environment, with options to make exercises more difficult for those who would like a challengel The progress of all individuals in the group Is apparent, wlth some able to work harder for longer perlods of tlme; some Introduclng weights into their programme, and some moving from modified to full exercises. "The sessions are great, thank you for taking this [wheelchair] into account when planning the sesslons." "David has gone from, '] hate fitness, to 'I kind of like fitness, to 'I quite Ilke fitness, to 'I really Ilke fitness.!" Employabilitv Gaining ernployment is challenging for vision impaired young people at any time but 2020 threw up a whole set of new issues. We are delighted therefore that our Employability team were able to help: 10 young people into new jobs and apprenticeships; 7 young people into tralnlng or further educatlon. and 5 young people into new volunteering roles. Achievement Over the last 4 years we have supported the children and young people who access our services to work towards AQA awards in recognition of their development and participation in new skills and activities. This year we presented over 1000 AQA certificates the highest number to date to 217 children and young people. The presentatlons are made at an Annual Awards event and thls year. for the flrst tlme, that event took place on-line. "It was fun and dlfferent to 'perform' vlrtually, I qulte liked It!" "I feel Ilke I really have achleved something thls lockdown the ceremony has boosted my confidence" "l enjoy attendlng sessions but getting a certificate is a bonus" Education - Dorton College Dorton College is RSBC'S specialist independent FE day College. Based in the London Borough of Bromley, the College offers placements for vision impaired young people 16-25 years up to 5 dayslweek and 38 weeks/year. All of the students at Dorton College have a tailored and individualized curriculum designed by a Qualified Teacher of (the) Visually Impaired (QTVI). They are supported by our specialist teaching and support li THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 staff and have input from a range of therapists covering moblllty, Independent Ilfe skllls, and Speech and Language and Occupational Therapy. The College Is graded "Good" by Ofsted (Sept 2018). The 2019120 academic year was our first year of operating solely as a day provision and was a year In which we dealt wlth the challenges presented by the COVID crlsls. For the last 4 months of the year our students mainly leamed remotely, supported by the Dorton College staff via digital platforms, email and telephone. In July 2020 - 2 graduated, including Joe. Joe Joined Dorton College as a resldentlal student in 2017 to study Music after completing his GCSES at school. He started on a Level 2 Music and Performing Arts course at one of our partnership colleges and progressed up to Level 3 ('A' Level equivalent), in years 2 and 3. In his final year at Dorton College, Joe became a day student and coped with the transition well. He flourished on his Music course, consistently acquiring top grades and graduated in July 2020 and is now studying music at university in London. At the start of the 2020121 academic year the number of students in the College had increased to 14 (up from 12 in the prevlous year). We also began the new year in a new hub in Orpington: a move completed in the summer whilst restrictions on movements were relaxed. Interest In the College is continulng to grow. We now have students from 12 local authorities acr055 London as well as Kent, and the satisfactlon rates amongst our students is high. In the 2020 satisfaction survey 100 % of the students who responded rated the College 8 or above, and all said that they would recommend the provision. -They've been amazing. Whenever I need help they are there. They give me the help I need. -[We're] thankful for Dorton College go through the council which is a paln because you've got to fight for it. But once you've got the funding its IOOOQ/o worth it. He's come on leaps and bounds since he started there. RAISING AWARENESS AND WORKING FOR CHANGE Youth Forum Our Youth Forum went from strength to strength during 2020, maintaining its energy and commitment during the lockdown to develop new initiatives for raising awareness and making sure the voice of vision impaired young people is heard. The Forum's 8 members rnet 15 tirnes over the year and provlded valuable feedback and Insight to inform several of RSBC'S initiatives and decisions including: creating an evaluation process for the Supper Clubs: advising the steering group for the new website; providing feedback on personal development plans, wellbeing and lifestyle surveys; Input to the Youth Voice and Mlnds In Slght projects and the Lonely Not Alone campaign; involvement In the 2.6 campaign; and helplng to host the RSBC Christmas Extravaganza. 12 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 They also publlshed regular Lockdown Diary blogs on the RSBC website and the summer saw the introduction of the Forum's popular monthly podcast. RSBC Unseen, aimed at vision impaired young people. In additlon, Forum members took part in several campaigning and awareness ralsing initiatives including: panel membership on a Web Roots Democracy, even representing the views of vision impaired young people in discussions on online and accessible voting reform; advlslng on a campalgn to provide a simple method of alertlng medlcal professionals to the needs of their vision impaired patients; and, advising a screenwrlter on the accuracy of his portrayal of a fictional VI young person. The Forum Is currently developing a newsletter. Partnerships Building and maintaining partnerships across the Vl and Youth sectors has been a key element to increasing our reach. In 2019 there were 25 actlve partnerships across England and Wales and during 2020 we increased these to 45. Through these partnerships we can facilitate VI children, young people and their families accessing local services and support. Malnstream youth organisations have benefited from capacity building and training to enable them to adapt their services to engage VI children and young people, In 2020 VI and sighted young people from the North and South of England came together with decision makers in the fields of transport, local councils and leisure facilities to influence how services operate. Wayfindr In 2020 we completed a Big Lottery funded programme to upskill professionals in audio wayfinding, demonstrate the systems and encourage take up by vision impaired people, MAKING IT HAPPEN Volunteers 2020 volunteering numbers were impatted by COVID which resulted in the cancellation of a number of face-to-face fundraising participation events and the rapld transition of Live Life Go Further (LLGF) activities in Communlty Servlces from face-to-face to online delivery. There was a period between 23 March and 22 June 2020 when only one or two volunteers were being used to support administrative tasks. During 2020 46 indlvldual volunteers supported 22 opportunities across online LLGF activities, the Society's online Christmas Extravaganza, within Dorton College and the Philanthropy team. They volunteered for a total of 504.5 hours converting to a monetary value of £6,386.97 (based on a sector-agreed formula). 13 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 We are delighted that whilst all activities have been delivered online those who volunteer with RSBC continue to report positively on their experience. Some feedback from our volunteers:_ -volunteering online has been a diffe￿nt experience but very worthwhllel The activities remain important and captivatingi but the continuing social aspect Is also vital! it's great to keep in touch with beneficiaries you've met and know, but also to Joln up with other people, who you may not have encountered without the online network. "I enjoyed volunteering for RSBC online a lot. Of course, It is not the same as offline: the experience with the kids, the fun etc. but you have other good sides of it like the flexibility and the comfort of doing it from your sofa. I love how RSBC has tried to deliver the same level of service to children even online, with all the challenges that It represents with kids wlth disabilities. I can't wait to get involved in some activities offline, but the online volunteering artivities have also been in5piringi practical and very "easy" from the volunteer point of view. "For me onllne volunteerlng has been fantastic as It has kept me busy whllst looking for work. It has been great to stay connecied." RAISING THE MONEY WE NEED Fundraising was hit hard in 2020. The strides we had made in the previous year to engage new supporters through Face-to-Face fundraising were stopped in their tracks with the lockdown and subsequent restrictions. Community and Events fundralsing was Iso stopped wlth large mass partlcipatlon events Ilke the London Marathon cancelled and individual supporters unable to complete their planned personal challenge events. As a consequence, and to ensure that we were able to direct as much of our resource to frontline delivery we took the decision to restrutture our fundraising department. We combined functions and embarked on new initiatives to support the maintenance of our fundraising and prepare for growth when possible. Throughout, our existing donors have remained loyal and, overall in 2020, across all our newsletters and cash appeals we saw a 32% increase in the income level. Although the environment for Corporate fundraising was challenging, we retained and developed our Charity Partnership with Scope Ophthalmic, a manufacturer of eye-care products. Their employees ran a fundraising campaign, #6minutelockdown, where they performed and filmed an everyday task under blindfold. We were delighted to be appolnted Charity of the Year for the Worshipful Company of Cordwainers whose members are finding interesting ways to support fundraising initiatives, We also continue to be supported by Johnson Matthey who have generously supported us since the Society was founded. 14 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YeAR ENDED 31 DECEMBER 2020 Thanks to the generosity of businessman and philanthropist, Rlchard Desmond, the Society commenced planning and design of its Life without Limits Centre (LWLC). Mr Desmond gave the Society c8000sq ft of riverside space at LO Lower Thames Street, London. Supported by pro-bono partnerships with EPR Architerts, Hollls (Real Estate Consultants) and DP9 (Planning Consultants) detailed plans were prepared and planning permission received. Although major donor fundraising is a new activity for RSBC sufficient funds were raised to commence construttion In Aprll 2021. As part of the Remember a Charity week in September we launched a new look and feel for our legacy literature putting the young people front and centre of the communication wlth "Your Legacy. My Future". We know the difference that legacy income makes to the lives of blind chlldren and young people and we are enormously grateful to those who choose to leave money to us In their wills. We ended the year with £1.44m (2019: £1.29m) In legacy income. Trust, statutory and institutional income remains an Important source of funding for our servlces and as funders redirected their resources towards supporting the COVID response it became more difficult to secure funding. At the end of 2020 we had £601k of fundlng secured over the next 3 years. down 38% on the previous year. We would like to thank all of our funders, including: The National Lottery Community Fund, the Masonic Foundation, Benecare Foundation, The Moondance Foundation and the Heathrow Community Fund for their commltment to our Families Ftrst service; City Brldge Trust for their cornmitment to our employment support activities. The National Lottery Community Fund, Johnson Matthey; BBC Children In Need, Greater London Authority and Comic Rellef, Tower Hamlets Council Local Community Fund, London Borough of Hackney and the Youth Investment Fund for their support for our Live Life Go Further Programme. the Co-op Foundation for supporting our friendship and independence groups; the Worshipful Company of Cordwainers for their continued support of our Music Group; and Erasmus+ for thelr support for our Youth Volce projects. Our Promise to our Donors and Supporters RSBC supports and is registered with the Fundraising Regulator who works to ensure that organisations raising money do so honestly and properly. The charity undertakes fundraising attivity to Its donors and supporters via direct mail, telephone, events, fundraising events, sponsored events and gala dinners and email strictly in line with the Fundraising Code of Practice set by Fundraising Regulator. Our fundraising promise to our donors and supporters is that RSBC will: respect their privacy and thelr generosity make it easy for them to contact us by their preferred method give them a choice about how often they hear from us explain things in plain English and not use jargon 15 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 apologise when things go wrong and work as quickly as possible to put them right listen to their comments, suggestions, cor)cems and complalnts; deal with them efficiently and respectfully* resolving them in an open and transparent way; and using the feedback to help improve our service never sell or share their information with external companie5 unless those companies are working on our behalf Supporters registered on the Telephone Preference Service are only called wlth an appeal if they have agreed to receive such calls. Callers are thoroughly trained and updated on the charity's work and calls are regularly monitored. We have a training programme for all our fundraising staff to regularly reinforce our fundraising ethics. The charity adheres to the standards of the Fundraising Code of Practice. We have a documented complaints process and in 2020 we had I complaint about fundraising activity in the year which was promptly resolved. FINANCIAL REVIEW Review Group income in the year was £4.35m (2019: £4.15m). In 2020 the level of donations increased from the previous year. The Society received £2.2m compared to £2.Im In 2019. The princlpal sources of funding continue to be donations and legacies that generated £3.6m (2019: £3.4m). A further £0.60m (2019: £0.62m) was generated in education fees and grants and £0.13m through trading and other income (2019.. £0.13m). In line with the Society's plans to increase the effertiveness of its fundralslng, costs on raising funds fell to £0.83m (2019: £1.5m). Expenditure on delivery of Education ancl Training was £l.Om (2019: £1.03m) mainly attributable to a move to new premise5 resultlng In lower property costs. The changes made to our community service delivery as a result of COVID meant that the cost of service delivery was £1.9m {2019: £2.3m). As previously outlined our reach and beneficiary satisfaction increased. The overall Impact on group expenditure was a reduction in costs from £4.9m in 2019 to £3.7m In 2020. The Group also received pro bono support in the region of £205k in 2020, of which £155k related to work for the construction of the ￿fe Without Limit5 Centre (LWLC). We would like to extend our thanks to Reed Smith and the LWLC advisers EPR Architects, Hollls and DP9 for their invaluable pro-bono legal and professional services. The percentage of group total expenditure spent on direct charitable activities was 77% (2019: 69 % ). No gainsllosses or assets were recognised on the Defined Benefit Penslon Scheme. The Scheme was closed in 2001. Investment Powers. Policy and Performance The Trustees have the powers to invest the Society's assets as they deem fit. Through its advisors, Cazenove Capital Management the Society invests available money in an investment portfolio in furtherance of its objerts. As the Trustees had agreed to 16 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 liquidate the residual value of the investment portfolio In 2019 In order to bolster the Ilquldity of the Society, there was no investment gain or loss in 2020 (£60k gain In 2019), and no investment income (2019: £16k), Reserves Policy The Trustees have given careful consideration to the current and future needs of the Society's beneficlaries; the risks and opportunities associated with the normal running of the Society's affairs and have decided that the Society: Needs to continue malntaining operating reserves of 4.5 months of RSBC'S annual projected revenue equivalent to £1.4m. This is because most of the activities of the Society are closely linked with the level of income raised and costs are committed with this in mlnd. Any surplus in reserves over the pollcy set out above will be used to reach more beneficiaries and the Trustees will only permit the operating reserves of the Charity to fall below the approved level if there is a credible plan in place to restore the reserves to the agreed level during a period not to exceed two years. Free reserves (unrestrlcted funds not deslgnated or tled to tangible fixed assets) at the year-end were £1.6m (2019: £0.77m). At the year end, the group held restrirted funds of £0.42m {2019: £0.63m). £O.Om (2019: £0.Qm) was held in designated funds. The level of reserves and information available to the Trustees and management indicate that the Society is expected to continue as a going concern. THE FINANCIAL EFFECT OF COVID-19 Overall, the Society's income increased by over £200k despite the pandemic and we were grateful to Social Investment Business FM Limited for making a £250k Resilience and Recovery Loan available to the Society. This, together with £242k of COVID relief grants awarded to us helped to ease pressure on cash and reserves and to ensure that we were able to continue to serve our community. This was also helped by the National Lottery Community Fund's continued sUPPOrt In releaslng projert funds In advance. At the start of the crisis, we placed 18¥0 of our workforce on furlough in areas where actlvlty was suspended or their work was reduced to less than 200/0 of the normal volume: this dld not impact on the service delivery teams. Trustees took the decision that the Society should continue to pay the 20¥0 of salary which was not covered by the furlough scheme. One member of staff volunteered not to avall themselves of that benefit. Additionallyi for the first month, the CEO and Deputy CEO took a 209/0 Cut in salary: this was reinstated by Trustees in May when the financlal positlon was clearer. All staff that were returning, were brought back from furlough by 31 October 2020. In all 8 members of staff were made redundant as a direct result of the pandemic, 17 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 In addition to these external support measures, we instigated a strict expendlture plan with all spendlng requiring sign-off by at least two members of the Senior Leadership Team. We also cancelled office services that were not requlred whllst staff were working from home. Throughout the year, and into 2021. the Society's response to the crisis has been overseen by the Senior Leadership Team who initially met daily and continue to meet twice weekly to revlew the position and consider the impact of developments on dedicated COVID risk register. The Audit Committee of Council also met weekly and then biweekly in 2020 to ensure that there was rigorous financial and risk overslght. LOOKING TO THE FUTURE We begin 2021 at the start of a new 5-year strategy that wlll see the Society continue its journey to ensuring that no child grows up to be poor and lonely just because they are blind. By 2025 we will have: Reach: supported 25,000 blind and partially sighted children across England and Wales since 2015 Income: achieved a turnover of £6M wlth unrestricted income having increased IO¥opa year on year and with the cost of raising those funds representing no more than 20% Education: an annual cohort of at least 20 students at Dorton College; and have diversified our education offer into the digital space. Quality: 9 out of 10 beneficiaries to recommend our services to others and to have achieved an Ofsted rating of "Outstanding- for Dorton College. Impart: engaged with a network of existing service providers, referral agencies and community gmups across England and Wales to ensure that there is equality of access to mainstream provision for VI YP and their families. Our People: a staff turnover 10 % less than sector average and at least 750/0 of staff and volunteers recommend RSBC as a great place to work. Infrastructure: established the RSBC'S ￿fe without Limits Centre as a hub for delivery of our servlces and a Ilghthouse for world class Innovatlon; and ensure that our infrastructure supports our overall efficiency and effectivene55 Governance: a Trustee Board that provides first class leadership to the Society and represents the communlty we serve The Trustees appointed a new CEO following the ￿tirernent of Dr Tom Pey who had held the position since 2010. Sue Sharp. previously the Deputy CEO, took the reins on 5 Aprll 2021. Dr Pey will continue to be involved in the work of the Society on a non- executive basis during 2021 a5 he completes some strategically significant projects. The Society Is grateful to Tom for all he has done over the last 11 years in transforming RSBC to a national charity with vision impaired child￿n, young people and thelr famllles at the heart of everything it does. Significantlyi in 2021 we will be moving into our new iconlc Llfe wlthout Limits Centre in Central London from which we will support more blind and partlally slghted children, young people and their families than ever before. 18 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 In the new LWLC we will be even better equipped to deliver blended services combinlng face to face and on-line delivery. We have learned a great deal during 2020 about how we can enhance our services, and reach more children and young people, through on- Ilne engagement. We want to keep what worked and blend it wlth the face-to-face support with an outcome that is even better for the beneficiaries. To achieve our income objettives in thls new strategy perlod we will need to continue to explore new ways of Fundraising and in particular, ways of engaging new donors and supporters. An Integrated Marketing and Communications approach will be central to that effort. We are immensely grateful to the CEO of ￿G, the Birmingham based marketing agency, for making available his highly talented tearn to support us in that area. We will also be implementing new systems in HR and Finance that will improve our operational efficiency and ensure that even more of our funds raised are targeted at delivery. STRUCTURE, GOVERNANCE AND MANAGEMENT Our Board of Trustees The Council of Trustees meets every three months and is supported by regular meetings of committees which between them cover finance and risk, strategy, oversight, property, education, governance, fundraising, the remuneration of the Chief Executive and senior management and supervise the process for appointing Trustees. There is a Board of Governors for Dorton College. this Board acts in an advisory capacity and has no statutory powers. The recruitment process for Trustees was paused due to COVID. At the end of 2020 just under a fifth of Trustees were women. Recruitment will start in earnest in 2021 as we seek to balance the skills of the Board and build diversity. All recommended persons must be unanimously accepted by the Council and formally proposed at the AGM for ratification. There Is an induttion process for all new Trustees. Leadership Dr Tom Pey continued to lead The Society throughout 2020. During the year he indicated to Trustees that he was considering retirement. The Society felt that It had a robust succession plan in place following the appointment in 2019 of Sue Sharp as Deputy CEO. In 2020 Tom and Sue Sharp, Deputy CEO, formed the Corporate Leadership Team (CLT). The CLT was supported by a team consisting of department heads, collectively known as the Senior Leadership Team. This team consisted of Mandy Douglas, Communlty and Partnerships Director; Josie Grainger. College Principal. Eileen Harding, Head of HR and Volunteering and Company Secretary; Yvonne Lane, Head of Income and Impact; 19 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Shalnl Sood, Direttor of Philanthropy; and Davld Roy, Head of Flnance (replacing Patrick Pedder, Finance Director who left the Society in June 2020). GROUP STRUCTURE AND ASSOCIATED SUBSIDIARIES RSBC has two wholly owned subsidlary trading companies - RSBC Lotteries Ltd, formerly RLSB Enterprises Ltd, (company registration number 05757769), incorporated 27th March 2006 and wayfindr.ory Ltd (company registration number 09839997), incorporated 23rd October 2015. RSBC Lotteries Ltd did not trade in the year or the preceding two years. The Thomas Lucas Academy Trust Limited (company registration nurnber 09206440) is an associated company. The company did not trade in the year or the previous three years. Additional domiant companies are Vision Charity (company registration number 03737109) and Wayfindr Journey (company registration number 09593014). Kyeku5 Limited (Formerly the Royal Society for Bllnd Chlldren): On 31 December 2016, the Royal Society for Blind Children (-old RSBC") transferred its assets and liabilities to its parent charity, the Royal London Society for Blind People (RLSB). Following the transfer and on l January 2017, RLSB took on the name "Royal Society for Blind Children" fnew RSBC"). Since no two charitie5 can bear the same name, the old RSBC took the name Kyekus Limited as at that date. Kyekus Limited ceased operations on 31 December 2016 although a shell charitable company (company registration number 05764810) continues to exist. wayfindr.org Ltd: In 2015 the Royal Society for Blind Children (RSBC) contracted wlth ustwo (a global digital product studio) to set up wayflndr.org Ltd, (company registration number 09839997) a fully owned subsidiary of the RSBC. Ustwo and TfL are members of wayfindr.org together with RSBC which has the controlling share. The organisatlon developed an open set of standardised guidelines for audio wayfinding and promotes the installation of audio wayfinding systems worldwide for vision impaired people to travel more independently. RSBC supports the standard development, management, communication, fundraising and finance activities through a servlce level agreement. RISK MANAGEMENT The Corporate rfsk register is updated on a quarterly basis. The Councll notes the following specific high-level risks and highlights the actions to address those risks: Safeguarding is a prlority in the risk register and Council considers a safeguarding report a5 the first work item at its meetings. The Society has a Corporate Safeguarding Committee, which alongside the Health, Safety and Wellbeing Commlttee, regularly reviews risks, policies and procedures. In the light of COVID, for example, with online delivery of services, additional guidance was issued to staff regardlng online safeguarding. All safeguarding incidents are reported to the Chair, Chair of Board of Governors and the Trustee with the safeguarding portfolio. 20 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Extending the reach of the Society's services Is central to our Strategy and ensuring that we can meet the needs of those chlldren, young people and families. We have stepped up our engagement activlty and continued to build effectlve delivery partnerships both within and without the vision impairment sector. Income growth is critical to our ability to deliver to our growing number of beneficiaries. In 2020 there were pressures on Income from trusts, statutory and institutional bodies, as well as fundraised income from events and face- to-face collections. The Society has realigned its income generating resources and is well positioned to benefit from Income opportunities arising in the wake of Covid. There is a clear focus on outcomes and impact of our services. We continued to invest In learning and development for staff and volunteers and to ensure that staff were rigorous in their monitoring of beneficlary progress. The trustees are satisfied that all material risks are properly insured and regularly review rlsks to ensure that the position is maintained. The Audit Committee is notified along with the external auditors of incidents of Fraud or attempted Fraud which could present Risk to the organisation's assets. Any incidents of this nature should be reported to the Chair of the Audit Committee as soon as they are identified. There were no issues identified in the year. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responslble for preparing the Trustees, Report and the flnanclal statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the charitable company for that perlod. In p￿parIng these financial statements, the Trustees are required to: Select suitable accountlng pollcies and then apply them consistently; Observe the methods and principles in the Charities SORP; Make judgments and accounting estlmates that a￿ reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any materlal departures disclosed and explained in the financial statements. and Prepare the financial statements on a going concem basis unle55 It is Inapproprlate to presume that the charitable company will continue in business. The Trustees are responsible for keeplng adequate accounting records that are sufficient to show and explaln the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularlties. 21 THE ROYAL SOCIETY FOR BLIND CHILDREN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 So far as each of the Trustees Is aware at the time the report is approved: There is no relevant audit infomation of which the charltable company's auditors are unaware; and The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditors are aware of that infomiation. AUDrroRS A resolution proposing the reappointment of Haysmacintyre LLP as auditors to the charitable company and group will be put to the Annual General meeting. This Report which signed on 27 M includes the Strategic Report was approved by the Trustees and l on their behalf by: 20 lan Step soh, Chairman of the Society 22 THE ROYAL SOCIETY FOR BLIND CHILDREN AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ROYAL SOCIErY FOR BLIND CHILDREN Opinion We have audited the financial statements of The Royal Society for Blind Children for the year ended 31 December 2020 which comprise the Consolidated and Charity Statement of Flnanclal Activities, the Group and Charity Balance Sheet, the Consolidated Statement of Cash Flows, and notes to the flnancial statements, including a summary of significant accounting policies. The financial reportlng framework that has been applied in their preparation Is appllcable law and United Kingdom Accounting Standards, Including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountlng Practlce). In our opinion, the financial statements: give a true and fair view of the state of the group and parent charitable company's affairs as at 31 December 2020 and of the group and parent charitable company's net movement in funds, including the income and expenditure, for the year then ended; have been properly prepared in accordance with United Klngdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wlth Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are Independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbllities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's abillty to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responslbilitles and the responsibilities of the trustees with respect to going concern are described in the relevant settions of this report. Other information The trustees are responsible for the other information. The other information comprises 23 THE ROYAL SOCIETY FOR BLIND CHILDREN AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 the information included In the Trustees, Annual Report. Our opinion on the financlal statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connertion with our audit of the flnanoal statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconslstent with the financial statements or our knowledge obtained in the audlt or otherwise appears to be materially misstated. If we identify such materlal inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a materlal misstatement of the other Infomiation. If, based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the Information given in the Trustees, Annual Report (which Includes the strateglc report and the directors, report prepared for the purpose5 of company law) for the financial year for which the financial statements are prepared is cons1Stent with the flnancial statements; and the strategic report and the directors, report included within the Trustees, Annual Report have been prepared in accordance with applicable legal requ1￿MentS. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report {which incorporates the strategic report and the dlrectors, report). We have nothing to report in respett of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us]; or the charitable company financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audlt. Responsibllltles of trustees for the financial statements As explained more fully in the trustees, responsibilities statement set out on page 21 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 15 necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the 24 THE ROYAL SOCIETY FOR BLIND CHILDREN AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 charitable company's ability to contlnue as a going concern, disclosing, as appllcable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a high level of assurance, but is not a guarantee that an audit condurted in accordance with ISAS (UK) will always detect a material misstatement when it exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decislons of users taken on the basis of these financial statements. Irregularltles, including fraud, are Instances of non-compliance wlth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detectlng Irregularities, including fraud is detailed below: Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to care regulations including safeguarding and health and safety, and employment law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also consldered those laws and regulations that have a direct impact on the preparation of the financial statements such a5 the Companles Act 2006 and the Charities Art 2011, and other factors such as income tax, payroll tax and sales tax. We evaluated management's incentlves and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and concluded that the risk was low. Audit procedures performed by the engagement team included: Discusslons wlth management including consideration of known or suspected Instances of non-compliance with laws and regulation and fraud; Evaluating management's controls designed to prevent and detett Irregularities. Identifying and testlng Journals, in particular Journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions. and Challenging assumptions and judgements made by management in their critical accountlng estimates. A further description of our responsibilities for the audit of the financial statements is located on the Flnanclal Reporting Council's website at: www.frc.or s. This description forms part of our audltor's report. Use of our report Thls report Is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those 25 THE ROYAL SOCIETY FOR BLIND CHILDREN AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 matters we are required to State to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume re5pon5ibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Lee Stokes (Senior Statutory Audltor) For and on behalf of Haysmacintyre LLP. Statutory Auditors Date: 27 May 2021 10 Queen Street Place London EC4R IAG 26 THE ROYAL SOCIETY FOR BLIND CHILDREN CONSOLIDATED STATEMENT OF FINANCIAL ACTMnES forth• Y•ar •nded 31 De¢omber 2020 Fund• Fwd¥ 2•19 INC￿ AND ENOOWMEIITS Inc¢Nn•from Fees Graits 618 71 78 133 615 Ineorn• from In¥••*Mn Don411on•ind Lg9*¢1•• Donabjns LegacAes 1.158 1.026 2,184 2,077 1.026 3*28 3J•$ Ttyyiry A#hib&5 OthEr 1J2 129 129 Totsl Incom••nd 3J29 V5S expENDITURE Exp•ndltur• on R*1￿9 Fund• Furyjraising Cos15 TTwdry ExFrtnses N•t•xp•ndnur• iv4lthbl• IwCh•vhty••pp￿•l￿Jft 1,026 a￿25 Exp•nditsY••n Ch•vWAth Educ4bon Commun￿4 & FAmity SuppthtSAni 99 l.OJ3 2349 1233 Tot41 Exppndttur• on c￿￿￿TrAc11￿￿ 1233 I￿67 3,332 Tot41 Expond4t￿r0 1233 3*8 4,9SO Nei G￿n￿LO$Se$l lth**trMtrt* 10 Net Inc0Th￿(EXp0ndlthT+1 VJ 12071 N•t IncOm•llEx￿ndknr•)4ts1T￿m1* 173 12071 17461 18 Ngimo¥•ingfit In fund4 l•ry•Ar 713 678 17461 Rgcon¢ifia&on •lfund*'. Fund boiantes ai Ji 0•r*mb￿2019 776 2.1GO F￿nd bol•neM •t31 D•¢•Mb•t2•20 1.55B 422 1,98 1.4ts4 Thè A(*4ibÈl aTe ctslhan thtsye i￿j￿4￿1 ab>ve. Al rt4hi$•d ga1￿$￿d kJssos areindud&l bi th• Sts*[D￿1￿￿IndnC￿kjrrfSe5. Th• wmp•nwng nots•f¢rm parto1th0wfm￿01s11ITh￿. 27 THE ROYAL SOCIETY FOR BUND CHILDREN STATEMENT OF FINANCIAL ACTrVITIES- CHARrrY ONLY for the Year ¢nd•d 31 Deefrm￿r 2020 2119 Incom•froM Sl8 Gr4nt* 144 7¢ DonaboTrs Legaoes 1.1S8 2,114 2,077 1.292 Other 12• Totsl Endo¥bTh•r 4J66 EXPE14DITURE Expendlbjrn on R•4kn9 F¥m4• 8J2 2h•F 3*23 2,521 Exp*ttd*urn on ChH￿brO Edueation èid CamrnwFty8 Farrfy SUPP￿ Sthie I￿33 Tot41 E¥p•ndttuM on¢h•rft4t4•Actr¢￿ ).))2 Total Expwdttuw• NètG•rth%L0$$06)￿In*s￿7￿7Its io I4•tkn￿•l{EXp•r￿J￿jT•l 12071 Ti•n*f•r* b4ty40en Fwd 1144) ProStoTr ol FLK•Y 0sso16 N•tmow•mwrt Ir•fvnd* fory• (20 1744} ft•wnciliknOn olfvjnd Fund a131 ￿E￿b¢r2419 2,14B F￿d ot31 O*e*Mb*v2020 422 28 THE ROYAL SOCIETY FOR BLIND CHILDREN GROUP AND CHARITY BALANCE SHEET AS AT 31 DECEMBER 202C 2¢24 IrNa¥trnEnts Cumiilt41UI* Debknrg caih ar￿ 8ankbAI 1Z 1.7J5 1.743 201 2NJI 1.$15 1.4e2 Ll•bllltlg• Credhors.. ArnOL￿t%1￿11fflg thA**hin rm>Y•i 13 191m 1919) 178n 1.68$ 716 N•t al9ts•xc￿thMg pgMIDA Kh•rn• IW>llty Total n•tMs• Th• fvnd¥ Eh•rity= Pe￿￿￿tEnd￿¥me￿f Fl￿d6 Ob)er Fu￿$ 14 423 Fix•d 14 Gene1￿ Ra￿u￿t￿)n R￿r￿ 1557 1.557 1.557 77 774 Talalchaiity lunth T￿lI￿an£[al stst8men15we￿aF￿D￿ and ￿ldlyTntsIees￿ 27 M*y2021 on, The attom￿nyIng NA•$fum p8rtrllwf￿yjOlsknto￿ty 29 THE ROYAL SOCIEfY FOR BUND CHILDREN CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEIABER 20XJ ZD N•t￿h thd•4 ty (w•d l#) 4¢¥¥MI• C•sh flowfrnm InYe¥lfjTro •thYOw.' [*￿dends. interest rait1￿rn in¥4strn ￿T*￿91b1* F￿￿ A*%4ts P￿@￿￿0M ￿e5C￿Ta￿￿tie FLtyJ 18 PftxeedtsfromA*edlMsbmnt5 Ikt ¢uh kn) InvHlkng 4¢d¥ts* 413 Ch•tty IA ¢•bh Inth• Mporunq p•rlod C44h 4nd qqthhntsatth• vllh•ots C*•h and cuh wth4knnt••tth•wKlolt*• p•rknl 235 iKJYr41g¥ponJ￿￿fOrkna pknj lal F4ttr* xthtomthx￿rmondal 744} In*sbMntincome chorges Pn[it￿ 05p0￿ olfNed a5W 14ei pen51on xherne rn¢vMmBrls Orrre*VDouea￿ In Dgbtys l¥Lr8arfDéctéa*@) in Ct*thtc (GainsylD￿Son InV￿trr￿ts 118 Il•t ca•h pio¥ld•d ty 2019 Charity 201¥ Tr*Je debtars 132 132 133 125 io by Subswsarywts￿Vw￿ AcciL*d Irwme 1.425 1.TJ5 1.424 1.743 1015 1.280 1,014 In￿ded￿lIhln o(Jx*dlnriAr* •re*ga¢*s r4£1.444.301 12019. £989.8641. hI1￿Ye￿r2ndtt￿ n￿￿￿of18080eS Tt*amtyJn e￿Id TrJt ￿a[tu[¥￿￿<￿bt￿￿ atKJ ty* tCl*O*8¥ re¥8(Mk*fdy¢&tsn H(pAt¥er. a rea￿￿lee$￿M3te CuirnntAs$0ts 12 2JS Cashqnd 8arthbaknes 910 CfvdknrA AnvJun& tslingd hnLrn5WI NET ASSETS TT4 17 FINANCLAL INSTRUMENTS Gioup.. FlnweiAI as••ts 1.175 Finai¢iql Sabilli￿& •tarThxb61d ctssts Ib) 570 Finairyql assets atlairvdw Icl FinanciAI Bssets ai amortised tyJ*lS{41 457 Flnwoal at amortsgj c0515 Ib} Financial aesets otloirYau• Icl 570 Ibl Find￿￿ I￿ts￿les measured at4ffti**ed ¢(Al ithe". tr4d* 4xrJ￿I5 aTrJ d￿¢￿j Icl assets hdd alf￿1 ¥a￿e asgetshebj as w1¥*￿￿ents 39 THE ROYAL SOCIEfY FOR BLIND CHILDREN NOTES TO THE FINANCIAL STATEMENTS lor the Yèar ended 31 December 2020 Icontlnuedl 18 PENSM)N SCIEIAES •} RLse PSNSK)N 8CIIEMES Dynber2020 ty a wthfied a¢￿￿ry. IvAbiithes sel oul rop)rt teen l>wd F￿>￿ty bthr*J 4t 31 2019. PrlTrGlyl A•wmrth 202ty 2019 P•r P•r•nmum 130% 320% 240% 2.4 3.1 •nnu th¥c￿Trt rdte Rethi P¢Ke41￿¢¥{ftp1) P1th1￿eX ICW}IrhlCIl FubJieinueJx$in¢¢t¢Th¢d PWK Raie ofinrJE4* In Rf4. mtx 195% 3.25% 225% 2.25% 3.15% 20ZQ 21.9 232 2D19 21.8 F￿￿re frfe expu*Jwatffl•e 20 Ih*4td* frfè eXP￿￿￿OI1efft￿e *65 4ibatsrKe *eei d* 2S.6 255 2020 24.3% 228% 20111 244% 218% 36% 306% 19.6% Inoured Wèl& E9￿￿e54nd￿neml1Mès Cash ard 0￿e Tota 4% 5% 100 0% 100 0% 2019 F•ifv*ueclxherne Presentvglue Qldefined benefit£*dW￿% SU￿4￿1011 In the Sch*ne R•stnckthg iesinctw underpwwh2822 #FRS 102 1.69$ 2.583 {1.2eo) 1361) 15e6} It053) 1160) Chang•1 in th# pr¢wtY•lu•of th• d•fin￿ 2020 £000 2019 oo 1$.3QJ Pr￿1 r*der￿ed b￿￿l0t￿jOn •ttr• athxlits PAVJ {tsJs) Adfflini¥tr8tiyn co Intwe￿¢0sE R•rnisuremenl gBiny rmvj -A£hJ8rid Whll and Ihxse5} Empknyee contr￿tiOn% Pastieryu costs I￿￿￿1r￿j ol*ethrn¢nts Pfe8enivdueLI definEd * theendLrfpwx 232 310 109 440 1.260 17.1 11.241 Chan0•¥ Inth• I•irv￿￿ of 2020 É•oo 19.375 310 201• Faw y4uèolsch•n*a￿@tr *the bry￿rarIj cl pw IDtgie5t income 17.389 440 2.583 cOntrf￿￿on6 by EmF4Dwcontrièu1￿s Paid itldudiry 8XF4nEes F•*¥￿u8 clgch4rn4 190 I￿5} 20.648 41 THE ROYAL SOCIETY FOR BLIND CHILDREN MOTES TO THE FINANCIAL STATEMENTS for the Yearended 31 D•¢¢mber 2020 contlnued 18 PÉMSIOII ScHEAES{¢oRthM￿dj b) ROYAL SOCIETY FOR BLW1D¢￿L￿£A PÉN¥￿ SCHEI fjmF*>yqw. pay&* iCl*d Ee6.98812019.' £15,BS8}. E￿*b)fir£¢n￿atr•￿Crts to the scknernBs and emk*yèet4rttriWJL¥1S44ibJ IdDFwth¢w the [* d emk*w sa*ryl Thert*we cr￿1￿ytest0thfit￿￿ tc the Scheffle In th?￿rI201* rAin*) e4MribJDon on￿. RO￿ Sotsetyfoi W￿￿ctI￿￿OnP•*¢￿*$lTh tr•ScrAfMhVr*ni•rySeth¥Pensityl S￿￿e ￿L0￿rTh￿SIn￿L cknwty CoTrtT4d¥ hkn* t•￿ent￿r•I Into IorthEeOrAtr￿tson c4the ywrisea wd rtaerM*au¥JihAI b)ectiarity*q cyw¢frtyn lTr)m SWbgr2021. 20 RELATEO PARTY TRANSACTIONS Tha thanty h•J th•>wr. I￿11(￿8 IP (xtr￿ lAr￿￿onI￿th . w0￿r.￿9 Ltyl R$BC ￿.961 &tth•>wwwhd31 D￿￿￿1020r￿l9'. £7.5 21 CORPORAnON TAX The charity is ?￿ptI￿￿ tsxan ￿¢￿￿2 8￿j ￿￿505￿￿Tt￿l￿419e6Qf 252 T•x*kn Gams 42