THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2021
Registered Company Number: 1900123
Registered Charity Number:
516477

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2021
CONTENTS
Pages
Officers and Advisers
Governors. Report
Auditor's Report
10-13
statement of Financial Activities and Income and Expenditure
Account
14
Balance Sheet
15
Cash Flow Statement
16
Notes on the Financial Statements
17to27

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
Officers and Advisers
Governors
Focus..
Mr R Hindle
Mr J Montgomery
Mr C Gascoigne
QAC..
Mr C Bradshaw
Mi l Richards
Prof J. Hilbourne
Members..
Mr M Billingham
Mr G Oakley (Chair)
Mr M Quantrill
Treasurer
Mr J Dixon
Company
Secretary
Mr P Taylor
External
Auditor
Mazars LLP
First Floor
Two Chamberlain Square
Birmingham
B3 3AX
Principal
Bank
Lloyds Bank PLC
36138 New Street
Birmingham
B2 4QZ
Investment
Managers
Quilter Cheviot Investment Management
Two Snowhill
Birmingham
B4 6GA
Registered
Office
49 Court Oak Road
Harborne
Birmingham
B179TG

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT
31 March 2021
The Governors {who are also Trustees and Directors for the purposes of Charity and Company
Lawl present their annual directors, report and financial statements of the Charitable Company for
the year ended 31 March 2021.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, the Statement of Recommended Practice and the
Financial Reporting Standard {FRS 1021.
The Charitable Company is also known under its abbreviated name of BRIB.
OBJECTIVES AND ACTIVITIES
The Company has been established, as a Charity, to advance and promote the education and
relief of blind people or those people significantly handicapped by defective vision or threatened by
blindness, and of people with other disabilities and special needs by securing the provision of
assistance and support and by other charitable means. Furthermore, it provides for facilities for
recreation and leisure for the benefit of people with visual impairment and other disabilities. It
carries out these objectives primarily by supporting organisations, principally Queen Alexandra
College and Focus Birmingham, with the aim of enabling blind and disabled people to lead their
lives to the maximum potential, improving the quality of life and encouraging independence.
The support takes the form of grants, the provision of resources, expertise and encouragement to
the organisations. The Governors are aware of the Charity Commission's general guidance on
public benefit and believe that this support, together with Iheir on-going review of the Company's
aims, objectives, future plans and grant making policy satisfies these requirements.
Grant Making Policy
It is the policy of the Governors to make grants only out of accumulated income and following a
decision of a meeting of the Board. Grants will be considered out of surplus income available after
all expenses have been adequately sourced.
Grants may be made to qualifying individuals or to organisations whose principal purpose is the
support of blind people and Ihose significantly handicapped by defective vision or threatened by
blindness and other disabilities.
The total amount of grants to be made by the Charity is determined by the Governors based on
the level of available distributable reserves and the Charity's financial position. Applications for
grants are considered at any meeting of the Board.

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT (continued)
31 March 2021
ACHIEVEMENTS AND PERFORMANCE
The Charity received total income for the year of £880,895 (2020.. £915,174), and the Govemors are
pleased to report that £985,384 (2020.. £785,361) has been distributed Of approved for distribution to its
associated Charities. In particular, in February 2021 Governors approved grants totalling £221,000 to
QAC and Focus to support with capital works in response to the COVID 19 pandemic.
COVID 19
The Governors have continued to assess the impact of the COVID 19 global pandemic on the Charity.
The Charity's investment portfolio recovered significantly in the year to 31 March 2021 and remains well
above the minimum level of reseNes stipulated by Governors in the Reserves Policy. The Charity has a
good asset base, no contingent liabilrties and its own projections show that BRIB has sufficient resetves
and cash flow to maintain its operation going forward. There have b￿￿ no significant events Sin￿ the
balan￿ sheet date to change the Governors, assessment.
FINANCIAL REVIEW
RESULTS FOR THE YEAR
Income forthis year was £880,895 compared to £915,174 in 2020 There were no Legacies or Bequests
this year compared with £29,162 in 2020. While the majority of rent receivable is distributed to the
associated Charrties as grants, BRIB continued to benefit from the rent receivable for Oakwood and
Beech House.
In furtherance of its objectives, the Charity made grants totalling £285,684 to Focus Bimingham (2020..
£189.994) and £699,700 to Queen Alexandra College 12020.. £595,367) This includes grants of
£100,000 to QAC and £121,000 to Focus to support with capital works in response to the COVID 19
pandemic. The Charity did not make any grants to any other Charity during the year12020.' £nil}.
The Charity's investment portfolio made a surplus of £444,012 on disposal and revaluation in the year to
31 March 2021, compared with a deficit of £262,902 in 2020.
The Statement of Financial Activities on page 14 shows outgoing reSoUr￿S of £1,101,996 {2020.'
£906,825) which when combined with income and the increase in the Charity's investment portfolio leads
to the total net increase in funds for the year of £222,91112020.' decrease of £254,553).
The Board is satisfied that its activities during the year, principally through its support of its associated
charities, served to adequately discharge its charitable objects.
FIXED ASSETS
All tangible fixed assets are held for the purpose of carrying out the Charity's main objectives The
Governors believe the market value ofthe Charity's freehold land and buildings to be more than their net
book value, although no independent valuations have been obtained, as it is considered that the cost of
obtaining the valuations is out of proportion to the usefulness of the information.

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT (continued)
31 March 2021
FINANCIAL REVIEW (continued)
INVESTMENT POLICY AND PERFORMANCE
The Governors, Investment Policy is to primarily invest in an appropriate mix of real assets, i.e. bonds,
UK & international equf(ies, cash, and from time to lime, olher asset classes, in order to generate the
required levels of return for the Charity to achieve its objectives. The mix of asset classes should redu
the volatility which could result from a purely equity-based portfolio.
Following a review by the Governors in 2014, the Investment Management Service has been carried out
by Quiller Cheviot Sin￿ July 2015. The Governors believe the investments continue to meet their
requirements in temis of suitability.
The portfolio is managed on a discretionary basis by a leading fimi of investment managers. A sub-
committee of the Governors meets regularly with the investment managers and is charged with
monitoring the performance against agreed benchmarks and ensuring that the porffolio is managed in
line wrth the Statement of Investment Principles that the Board has approved. The composition of the
benchmark includes separate indi￿S for each asset class, and includes the FTSE A15 Share Index, the
FTSE British Government All Stocks, the FTSE All World ex UK Index and the FTSE Real Estate Index.
The benchmark return for hedge funds is the HFRX sterling index, an index representative of the overall
composition of the UCITS hedge fund universe.
Inthe yearto 31st March 2021, thetotal retum on the portFolio was 24.9 %. This resultwas very heartening
after a challenging year in 2020 due to COVID-19 and more than makes up the reduction in portfolio
value in the year to 31 March 2020. Whilst the ramifications of the COVID crisis are likely to continue to
affect both capital performan￿ and income generation In future, the Governors note that the longer-term
performance remains strong relative to the wider peer group.
The Governors, investment policy takes account of ethical considerations and does not allow specific
investment in the tobacco industry. Environmental Social and Governance (ESG) is an important part of
Quilter's investment process and they regularty engage with both individual companies and external fund
managers in relation to factors such as climate change, employee fights and board remuneration.
Iv)
RESERVES POLICY
The Reserves of the Charty consist of Unrestricted Funds, £4,372,882 (2020.. £4,142,965) and no
Restricted Funds {2020'. £7,006). The Governors may distribute the full value of the Unrestricted Funds
at their discretion in carrying out the objects of the Charity. However, it is the aim of the Governors to
manage the financial reSoUr￿S of the Charity so as to permit the associated Charities (Focus
Bimingham and Queen Alexandra College) to enjoy the propety facilities on the Harborne site and to
support financially the activrties of these tmo Charities where appropriate and feasible. Further support of
blind, partially S￿hted and disabled people, as governed by BRIB'S constrtution, may also be made
available.

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT Icontinued
31 March 2021
FINANCIAL REVIEW (continuedl
Further to the above aims, the Governors intend to maintain all the resour￿5 invested in Fixed Assets
and those earmarked to cover staff indemnities as designated reserves and not make them available for
discretionary distribution. In addition, the Govemors intend to maintain reSoUr￿S invested in marketsble
securities of approximately £1.5 million, the income from which will ftjnd BRIB'S on-going activities as a
sustainable Charity. This is also a designated resetve and not available for discretionary distribution. The
balance on the General Fund of £778,52612020'. £473,914} is available for discretionary distribution as
detemiined by the Govemors.
If the reSoUr￿S invested in market securities fall short of the above target, the Governors intend to bring
such resources to this level as soon as possible. The target value of the investrnent portfolio is reviewed
and determined by the Governors from time to time.
The Restricted Funds are as detailed in note 15 to the accounts. They are not available for discretionary
distribution by the Governors and may only be utilised for specific purposes.
v)
RISK ASSESSMENT AND MANAGEMENT
The Govemors continue to assess the major risks to which the Charity is exposed, in particular those
related to the operations and fInan￿S of the organisation and are satisfied that systems are either in
place or are being developed to mitigate exposure to the major risks. An annual review of the Charity's
risk register occurs, with particular emphasis on the risks revolving around the principal assets of the
Charity, which generate the income from which the Charity exercises its grant powers.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Company, which is limited by guarantee (No 1900123). is registered as a Charity (No 516477) with
the Charity Commission and entered in the Central Register of Charities. The Company is governed by
its Memorandum and Articles of Association. On 1 April 1985 it took over the activities, assets, liabililies
and funds of the unincorporated Charity of the same name which had existed Sin￿ 1846. On 31
December 1997 the operations of Queen Alexandra College and Focus Bimiingham were transferred to
their new charitable companies. The Birmingham Royal Institution for the Blind IBRIB) retained freehold
propety and investments and the income from these is distributed by grants to these charib'es and others
working with visually impaired people and people with other disabilrties
The administration ofthe Charity is effected by a Board of Governors who are both Trustees ofthe Charity
and Directors of the Company. The Board is made up of nine Governors, three of whom are appointed
by Focus Birmingham, three by Queen Alexandra College and three bythe members ofBRIB. The Board
of Governors set oul the general policies of the Charity, which are implemented by the honorary officers.
The Govemors and honorary offi￿rS {Company Secretary and Treasurer} are the Key Management
Personnel of the Charity. All serve without remuneration. The financial records were maintained by
Queen Alexandra College during the year under a service level agreement.

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT (Gontinuedl
31 March 2021
CONNECTED ORGANISATIONS
Pfincipal conneded organisations are as follows..
QUEEN ALEXANDRA COLLEGE {QACI
This Charity was eslablished in 1997 to take over Ihe further educatior) and training for work operations
of BRIB on 31 De￿rnber 1997. It has been granted a long lease by BRIB on part of its Harborne sf(e
and benefits from funding commrtments made by BRIB It has the right to appoint one third of the
Govemors of BRIB and no decisions can be made by BRIB Governors unless at least one QAC
representative is present and votes in favour. During the year it paid rent of £627,70012020. £627,700)
to the Charity and re￿iVed grants of £699,700 {2020.. £595,367).
FOCUS BIRMINGHAM
This Charty was established in 1997 to take over, on 31 December 1997, the provision and promotion
of serVI￿S to blind or partially sighted people in the community, the operations previously being called
BRIB Vision servI￿s It also has been granted a long lease by BRIB on part of its Harborne site and
benef1ts from funding commitments made by BRIB. It has the same representation and voting rights on
BRIB'S board of Governors as Queen Alexandra College. During the year it paid rent of £164,690 (2020..
£164,690) to the Charity and re￿iVed grants of£285,68412020: £189,994}.
NEW OUTLOOK HOUSING ASSOCIATION LIMITED
The housing association operates housing and care facilities for blind and partially sighted people, largely
built on land owned by BRIB.
During the year it paid £24,000 to the Charity in respect of rent and new Tenancy Registrations (2020.
£24.570).

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
GOVERNORS, REPORT (continued)
31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Details of the Charty's advisors, curfent Governors and statutory information are set out on page 2 of
these Financial Statements., the following were Governors during the year and unless otherwise
indicated, seNed for the full year.
Appointed by Focus Bim7ingham
Appointed by Queen Alexandra College
Mr. R Hindle
Mr J Montgomery
Mr C Gascoigne
Mr. C Bradshaw
Mr l Richards
Prof. J. Hilbourne
Elected by Members
Mr. M Billingham
Mr. G Oakley
Mr. M Quantrill
None of the Governors has any beneficial interest in the charitable Company and all seNed without
remuneration.
Governors recognise the need for training and have a Training Policy comprising induction arrangements
for future new Governors and on-going training for existing Governors. As part of this all Governors have
received a pack of briefing material recommended by the Charity Commission.
The Charty paid £728 in the year for £1,000,000 of Directors and Officers Insuran￿ cover (2020.. £728).
FUTURE PLANS
The Charity has set a budget for 2021-22,. activities will remain similar to previous years.
STATEMENT OF GOVERNORS, RESPONSIBILITIES
We are required under Charity and Company law to prepare financial statements for each financial period
which give a true and fair view of the Charity's financial activities during the period and of its financial
position at the end of the period. In prepanng financial statements giving a true and fair view we are
required to..
Select sui(able accounting policies and apply them consistently.,
Observe the methods and principles in the Charities SORP.,
Make reasonable and prudentiudgements and estimates.,
State whether applicable accounb'ng standards have been followed and give details of any departures,.
and
Prepare the financial statements on the going concern basis unless rt is inappropnate to presume that
the Charity will continue.

THE BIRMINGHAM ROYAL INSnTUTION FOR THE BLIND
GOVERNORS, REPORT (continued
31 March 2021
STATEMENT OF GOVERNORS, RESPONSIBILITIES (continued)
We are reswnsible for keeping accounting records which ￿able us to ascertain with reasonable
accuracy the financial position of the Charity and lo ensure that the financkgl statements comply with
applicable law. We are also responsible for safeguarding the assets of the Charty and I￿n￿ for taking
reasonable steps for the prevention and detection of fraud and other Irregularrties.
DISCLOSURE OF INFORMATION TO AUDITOR
So far as each of the Govemors are awa￿. there is no relevant audit Infcrmation las defined In the
Companies Act 2(X6} ofwhich the Company's auditor is unaware, and each of the Govemors has taken
all the st8PS that they ought to have taken as Governors to make themselves aware of any relevant audit
information las defined) and to establish that the Company's auditor is aware of that Inft)rmatiOn.
AUDITOR
Mazars LLP have agr8ed to offer themselv8s for re-appointment as audrtor at the annual general
meeting
The Governors have prepared this report in accordance with the special provisions relating to COTnpanies
subject to Ihe ￿all companEs regime wthin part 15 of the Companies Act 2006.
Signed on behaff of the Govemors
G Oakley
Chairman
Registered Offi
49 Court Oak Road
Harbome B17 9TG
30 June 2021

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
Opinion
We have audited the financial statements ofThe Birmingham Royal Inslitution forthe Blind {the'Charity')
for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balan
Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" (Unrted Kingdom Generally
Accepted Accounting Practits).
In our opinion, the financial statements..
give a true and fair view of the state of the charity's affairs as at 31st March 2021 and of rts income
and expenditure for the year then ended.,
have b&n properly prepared in accordance with United Kingdom Generally AC￿pIed Accounting
Practice,. and
have been prepared in accordan￿ with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordan￿ with International 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
Charity in accordan￿ with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordan￿ with these requirements. We believe that the audit evidents 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 Govemors, use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to
continue as a going concem for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described
in the relevant sections of this report.
10

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND (continued)
Other information
The other infonnation comprises the information included in the Governors, report other than the financial
statements and our audrtor's report thereon. The Govemors are responsible for the other information
contained within the annual report. Our opinion on the financial statements does not cover the other
infonnation and, ex￿pt to the extent othetwise explicitly stated in our report, we do not express any fonn
of assurance conclusion thereon.
In connection wrth our audit of the financial statements, our responsibility is to read the other information
and, in doing so, consider whether the other infomiation is materially inconsistent with the financial
statements or our knowledge obtained in the course of the audit, or othewise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements. we are
required to detennine whether there is a material misstalement in the financial statements or a material
misstatement of the other infomiation. If, based on the work we have performed, we conclude that there
is a material misstatement of this 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 worf( undertaken in the course of the audit..
the information given in the Governors, Report for the financial year for which the financial
statements are prepared is consistent with the financial statements., and
the Governors, Report have been prepared in accordan￿ with applicable legal requirements.
Matters on which we are required to report by exception
In light ofthe knowledge and understanding of the Charity and its environment obtained in the course of
the audrt, we have not identified material misstatements in the Governors, Report.
We have nothing to report in respect of Ihe following matters in relatson to which the Companies Act 20C
requires us to report to you if, in our opinion=
adequate accounting records have not b￿n kept, or returns adequate for our audit have not been
re￿iVed from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Governors, remuneration specified by law are not made,. or
we have not re￿iVed all the infortnation and explanations we require for our audit,. or
the Govemors. were not entrtled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemption in preparing the
Governor5, Report and from the requirement to prepare a Strategic Report.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND (Gontinued)
Responsibilities of Governors
As explained more fully in the Governors, Responsibilities Statement set out on page 8 and 9, the
Governors {who are also the directors of the charitable company for the purposes of company lawl are
responsible for the preparation of the financial statements and for being satisfied that they give a Irue and
fair view, and forsuch internal control as the Govemors determine is ne￿sSaryt0 enable the preparation
of financial statements that are free from material misstatement, whether due to fraud 01 error.
In preparing Ihe financial statements, the Governors are responsible for assessing the Charitys ability lo
continue as a going COn￿rn, disclosing, as applicable, matters related to going con￿rn and using the
going concern basis ofaccounting unless Ihe directors either intend to ]￿uldate the company orto ￿ase
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ 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 assuran￿ is a high level of assurance but is not a guarantee that an
audit conducted in accordan￿ with ISAS {UK} will always detect a matenal 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 Influen￿ the economic decisions of users taken on the
basis of the financial stalements.
Irregularities, including fraud, are instances of nor)-compl1an￿ with laws and regulations. We design
procedures in line with our responsibilrties, outlined above, to detect material rnisstatements in respect
of irregularities. including fraud. Based on our understanding of the chanty and its activities. we identified
that the principal risks of non-compliance wrth laws and regulations related to the Charities Act 2011 and
the Charities Statement of Recommended Practice, and we considered the extent to which non-
Complian￿ might have a material effect on the financial statements. We also considered those laws and
regulations that have a dire￿ impact on the preparation of the financial statements. such as the
Companies Act 2006.
We evaluated the Governors, and management's in￿ntiveS and opportunities for fraudulent
manipulation of the financial statements (including the risk of override of controls) and detennined that
the principal risks were related to posting manual journal entries to manipulate financial performance,
inappropriately shifting the timing and basis of revenue recognition, management bias through
judgements and assumptions in signrficant accounting estimates, in particular in relation to fund
accounting, and 5ignrficant one-off or unusual transactions
Our audit prO￿dureS were designed to respond to those identified risks, including non-compliance with
laws and regulations (irregularities} and fraud that are material to the financial statements. Our audrt
procedures included but were not limrted to..
12

## Ian Holder 

Ian Holder (Jul 15, 2021 18:02 GMT+1) 

Jul 15, 2021 



THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
STATEMENT OF FINANCIAL ACTIVITIES
(Including the Income and Expenditure account)
FOR THE YEAR ENDED 31 March 2021
Unrestricted Restricted
Funds
Funds
2021
Total
2020
Totsl
Notes
Income
Donations and Legacies
Charitable Activities
Rent and Tenancy Registrations
2,036
2,036
31,821
816,390
816,390
816,960
Investment Income
Totsl Income
62,469
880,895
62,469
880,895
66,393
915,174
Expenditure on:
Raising Funds
Charitable Activities
16,105
1.078.885
16,105
7,006 1,085,891
16,119
890,706
Total Expenditure
1,094,990
7,006 1,101,996
906,825
Net Gainsl (losses) on Investment
Assets
Net movement in funds
444,012
444,012 (262,902)
222,911 (254,553}
229,917
I7,0(￿)
Balan￿ @ 1st April 2020
Balan￿S @ 315t March 2021
4,142,965
4,372,882
7,006 4,149,971 4,404,524
4,372,882 4,149,971
2021 comparatives analysed be￿een restricted and unrestricted funds are at note 20.
Unrestricted Funds
Income and Expenditure, Net of Historical Costs
2021
2020
Net Movement in Funds {above}
(Less) ladd unrealised lossesl{gains) on investments
222,911
(406,5211
(254,5531
273,998
Difference be￿een historical cost, depreciation charge and the
actual depreciation charge of the year calculated on the revalued
amount.
1,080
1,080
Historical Cost (Deficit) I Surplus for the year
(182,530)
20,525
The deficit for the year for Companies Act 2006 purposes is £183,610 (2020.. surplus of £19,445).
All amounts relate to continuing operations.
14

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND (Company No I9￿123￿
BALANCE SHEET as of 31 March 2021
2021
2020
Notes
xed Assets
Tangible Assets
Inveslmenls
2.071,168
2,468.819
4,539,987
2,152,593
1,982,733
4,135,326
Current Assèts
Debtors.. Amounts falliro due w*thin one
year
Cash at Bank and In Hand
10
708
5,140
47,954
53.094
66,105
66,813
Cu￿ent Liabilities
Credrtors.. Amounts falling due within on8
year
(233,918}
{38.4491
Not Current {Liabilitiesy Assets
{167,105)
14,645
Total Net Assets
4,372,882
4,149,971
The Funds of the Charity:
Unrestricted Funds
General Fund
Revaluation Re5erye
Designated Funds
13
778,525
625,120
2,969,236
4,372,882
473,915
626,2(Xi
3,042,&50
4,142,*5
14
14
Restricted Funds".
Otrei Funds
15
Total Funds
4,372,882
4,149,971
The financial statements are prepared in accordance with the provisions applicable lo companies
subjeGI ID the small companJÈs' regime.
The financial statements on pages 1410 27 were approved by the Govemors. aulhorised for issue on
30 June 2021, and sign8d on their behaf by..
G Oakley
M Billi
1fj

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 March 2021
2021
2020
Note
Cash flows from operating activities:
Net Cash from Operating Activities
Cash flows from investing activities:
Dividend income
Interest re￿iVed
Proceeds from sale of investments
Purchase of Investments
(2.2441
{58,3261
62,465
66,266
127
670,380
486,132
(636,802) (566,136)
Change in cash and cash equivalents in the reporting period
93,803
(71,937)
Notes to the Ststement of Cash Flow
1. Reconciliation of net (expenditure)lincome to Net Cash flow
from Operating Activities
2021
2020
Net (expenditure}Iincome for the year
Adjustments for..
Depreciation charges
(Gains) I losses on investments
Bank Interest Re￿1vable and Investment Income
222,911
1254,553)
81.425
1444,012}
62,469
(202,145)
82,400
262,902
66,393
Decrease in Debtors
Increase I (Decfeasel in Creditors and Deferred Income
Net Cash Outflow from Operating Activities
4,432
195,469
(2,244)
7.246
89,9281
(58,3261
2. Analysis of Change in Net Funds
At 1 April
2020
Cash
Flows
At 31 March
2021
Cash in Hand
Held as part of investment portfolio
47,954
67,434
115,388
18,151
75.652
93,803
66,105
143,086
209,191
3. Reconciliation of Net Cash Flow to Movement in
Net Funds
Increase in Cash in the year
Net Funds at 1 April 2020
Net Funds at 31 March 2021
93,803
115,388
209,191
16

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 March 2021
1. ACCOUNTING POLICIES
(a) Basis of Accounting
The financial statements have been prepared under the historical cost convention, modified to include
the revaluation of assets and in accordan￿ with the Companies Act 2006.These financial statements
comply with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective 1 January 2015). In addition..
(1) BRIB is considered to be a public benefit entity.
{2) The financial statements have been prepared under a going COn￿M basis, and there are no
material COn￿rnS in this regard. The Governors have assessed that this remains valid in light of
COVID-19.
(3) BRIB is a Company limited by guarantee {1900123), incorporated in England and Wales with a
registered Offi￿ at 49,Court Oak Road, Harbome, Birmingham ,B17 9TG.
(b) Uses of Estimates and Judgements
When preparing the financial statements, management makes a number of judgements, estimates and
assumptions about the recognition and measurement of assets, liabilities, income and expenses.
The Governors are of the opinion that there are no signrficant key areas of managementjudgement and
estimates used in the preparation of the financial statements.
Ic) Tangible Fixed Assets
Tangible fixed assets are recorded at cost or valuation. Tangible assets which have been donated to
BRIB are recorded at their current use valuation at the time of acquisition.
Expenditure of less than £1,000 on plant, fufniture, fixtures and fittings is charged as resources expended
in the year of acquisition.
Fixed assets funded by specrfic donation are capitalised and depreciated in line wrth the nomial
depreciation rates shown below. Specific donations to acquire such assets are brought into the statemenl
of financial activities when re￿*Vable and included in restricted funds. Depreciation on the value of such
assets is charged against restricted funds.
Depreciation is provided on all tangible fixed assets at rates calcuSated to write off the cost or valuation
of each asset less its estimated residual value over its expected useful life as follows..
Land
Freehold Property
No depreciation
Straight line basis over the expected useful lrfe of
individual buildings, as determined by propety
advisers (be￿een 15 and 50 years).
10% on cost
Fixtures and Fittings
17

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
YEAR ENDED 31 March 2021
1. ACCOUNTING POLICIES (continued
(d) Income
Income is included in the financial statements on an accruals basis. Income from legacies is accrued
when the re￿Ipt of the legacy is probable and the amount to be re￿iVed can be reliably estimated.
le) Grants
Grants re￿iVed towards specrfic projects are taken to income during the period in which they are
re￿1Vable. Grants payable are recognised as expenditure when the commitment is entered into. Where
such a grant is to be paid over by instalments, the outstanding balan￿ is disclosed as a liability.
(n Expenditure
Expenditure is accounted for on an accruals basis. The cost of irrecoverable ValLte Added Tax is included
with the item of expense to which it relates.
(g} Investments
Investments are stated at market value at the balan￿ sheet date less provision for any permanent
diminution in value occurring afterthe balance sheet date.
Any gain or loss on disposal or revaluation is taken to the Statement of Financial Activtties.
(h) Funds
Restricted Funds
These consist of monies re￿iVed by the Charity for specffic purposes less expendi(ure to date.
Unrestricted Funds
Designated Funds
These funds, which have been set aside from the general fund, equate to the net book value of those
tangible assets which are not represented by restricted funds together with such other sums as may be
determined by the Governors from time to time.
General Fund
This fund represents the pemiitted distributable element of the accumulated surplus arising from the
Charity's activities.
(i) Voluntary Help
No financial value has been attributed to the voluntary help received by the Chanty during the year.
18

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 March 2021
1. ACCOUNTING POLICIES (continued
(i) Financial Instruments
The Charity only has financial assets and financial liabilities of a kind that qualfy as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value.
2. CHARITABLE STATUS
The Bimiingham Royal Institution for the Blind is a registered Charity and is exempt from Income Tax
and Caprtal Gains Tax provided rts income and gains are applied for charitable purposes.
3. DONATIONS AND LEGACIES
2021
2020
General Fund
Legacies
Grants, Donations and Events
29,162
2,659
31,821
2,036
2,036
4. INCOME FROM INVESTMENTS
2021
2020
Listed Fixed Asset Investments
Short Tem Deposits
62,465
66,266
127
66,393
62.469
5. COST OF RAISING FUNDS
2021
2020
Investment Management Fees
16.105
16,119
19

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
YEAR ENDED 31 March 2021
6. CHARITABLE ACTIVITIES
2021
2020
General Fund
Grants to Queen Alexandra College
Grants to Focus Birmingham
Administration and Financial Services
699,700
285,684
19,082
595,367
189,994
22,945
1,004,466
808,306
Designated Funds
Depreciation of Fixed Assets
74,419
75,392
Restrictsd Funds
Depreciation of Fixed Assets
Total
7,006
1,085,891
7,008
890,706
Administration and Financial Services costs include Govemance costs of £7,800 {2020.. £7,500) Audit
fees amount to £7,800 (2020. £7,500).
7. GOVERNORS AND HONORARY OFFICERS
The Govemors and honorary offiTrrs (Company Secretary and Treasurer) are the Key Management
Personnel of the Charty. No remuneration was paid to any Govemor or honorary officer. 12020. Nill.
During the year no expenses were claimed by any Governor or honorary officer {2020'. Nill. All expenses
are incurred wholly and exclusively in carrying out their duties as Governors of the Charity and are in
accordan￿ with the Articles of Association.
The Charity paid £728 in the year for £1,000,000 of Directors & Offi￿rS Insuran￿ cover12020.. £728}.
20

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 March 2021
8. FIXED ASSETS
Freehold
Land
Freehold
Buildings
Total
Cost or Valuation
1 April 2020
Disposals
31 March 2021
Depreciation
1 April 2020
Provided in the Year
31 March 2021
Net Book Values
31 March 2021
760,000
4,572,889
5,332,889
760,000
4,572,889
5,332,889
3,180,296
81,425
3,261,721
3,180,296
81,425
3,261,721
760,000
1,311,168
2,071,168
31 March 2020
760,000
1,392,593
2,152,593
The freehold land and buildings are the subject of long leases to Focus Birmingham and Queen
Alexandra College.
When the Company was incorporated in 1985, the existing assets of the unincorporated Charity were
taken over and freehold land and buildings and short leaseholds were subsequently professionally
revalued.
As the assets comprise the prime properties for the main Charities which BRIB supports it is not
considered ￿e￿$Sary or appropriate to have the properties revalued at the current time.
If freehold land and buildings had not been revalued, they would be stated at the following amounts-.
2021
2020
Historical Cost
Depreciation based on historical cost
Historical net book value
3,993,888 3,993,888
2.547,841
2,467,496
1,446,047 1,526,392
21

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS {continued)
YEAR ENDED 31 March 2021
9. INVESTMENTS
Listed Investments
un￿strICted Fund
2021
2020
Balan￿ @ 1 April 2020
Less.. Cash held as part of portfolio
Market Value @ 1 April 2020
Add.. Purchases
Less.. Sales
Gainsl (Losses) on disposal or revaluation
Market Value @ 31 March 2021
Cash held as part of portfolio
Total Investments
1,982,734 2,202,568
{67.4341 (104,371}
1,915,300 2,098,198
636,802
566,136
(670,3801 (486 1321
444,012
{262,9021
2,325,733
1,915,300
143,086
67.434
2,468,819
1,982,734
At 31 March 2021 no investment had a value in excess of 50/0 of the total value of the portfolio (2020
Findlay Park PIC American Sterting GBP had a value of £102,311)
The market value of investments at 31 March 2021 is represented by the following..
Investments Listed on a Recognised Stock Exchange
2021
Total
2020
Total
Fixed Interest
Alternative Assets
Equities
Total
291,947
279,850
393,883
385,403
1,639,904 1,250.046
2,325,734 1,915,299
10. DEBTORS: Amounts falling due within one year
2021
2020
Associated Organisations
Accrued Income
Prepayments
526
526
4,432
182
5,140
182
708
22

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
YEAR ENDED 31 March 2021
11. CREDITORS: Amounts falling due within one year
2021
2020
Associated Organisations
Accruals
221,847
12,071
233,918
26,995
11,454
38,449
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted
Funds
Funds
Total
Fund Balances at 31 March 2021 are
represented by..
Tangible Fixed Assets
Investments
Current Assets
Current Liabilities
2,071,168
2,468,819
66,813
233,918
4,372,882
2,071,168
2,468,819
66,813
233,918
4,372,882
13. RECONCILIATION OF MOVEMENT IN UNRESTRICTED FUNDS
General
Designatsd
Fund
Funds
Note 14
2020
Total
As at 1 April 2020
473,914
3.669,050
4,142,964
Movement in the Year
304,611
(74,694)
229,917
As at 31 March 2021
778,525
3,594,356
4,372,881
23

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS {continuedl
YEAR ENDED 31 March 2021
14. DESIGNATED FUNDS
Fixed
Asset
Reserve
Revaluation
Reserie
Investment
Reserve
Staff
Indemnities
Total
Balance at 1 April 2020
1,519,387
626,200
1,500,000
23,463 3,669,050
Movement in the year
(73,339}
{1,080)
1275) (74,694)
Balan￿ at 31 March 2021
1,446.048
625,120
1,500,000
23,188 3,594,356
The Fixed Asset Reserve represents together with the revaluation rese￿e, the net book value of fixed
assets purchased from unrestricted funds.
Revaluation Reserve arose from the revaluation of freehold land and b￿lIdingS in 1985 and is
shown separately as required by Company Law.
The Investment Resetve represents the minimum value of investments to be maintained by the Charity
to provide future income to meet its anticipated expenses, as established by the Governors in their
reserves policy.
Staff Indemnities represent the potential liability that would fall to the Charity should any employee of
Focus Birmingham and Queeri Alexandra College, whose employment transferred from the Charity in
1997, suffer redundancy.
15. RESTRICTED FUNDS
Property
Development
Fund
Balance at 1 April 2020
Movement in the year
Balan￿ at 31 March 2021
7,006
7,006
The Property Development Fund represents grants and donations re￿iVed in respect of the re￿ptIOn
and access facilities at Queen Alexandra College less depreciation of the assets to date.
24

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS {continued)
YEAR ENDED 31 March 2021
16. CAPITAL COMMITMENTS
There were no capital CL)mmitinents contracted up to 31 March 2021 {2020.' £nil).
17. OTHER FINANCIAL COMMITMENTS
There were no other financial commitments contracted up to 31 March 202112020.. £nil).
18. CONTINGENT LIAIBILITIES
There were no contingent liabilities as at 31 March 2021 (2020.. £nil).
19. CONNECTED ORGANISATIONS
Principal connected organisations are as follows..
Queen Alexandra College {QACI
This Charity was established in 1997 to take over the further education and training for work operations
of BRIB on 31 De￿rnber 1997. It has b￿n granted a long lease by BRIB on part of its Harborne site
and benefits from funding commitments made by BRIB. It has the right to appoint one third of the
Governors of BRIB and no decisions can be made by BRIB Governors unless at least one QAC
representative is present and votes in favour. During the year it paid rent of £627,700 (2020.. £627,700)
to the Charity and re￿iVed grants of £699,70012020'. £595,367). At 31 March 2021, BRIB owed QAC
£100,847 including an approved grant of £100,000 (2020. BRIB owed QAC £995).
Focus Birmingham
This Charity was established in 1997 to take over, on 31 December 1997, the provision and promotion
of ServI￿S to blind or partially sighted people in the community, the operations previously being called
BRIB Vision Services It also has been granted a long lease by BRIB on part of its Hartjorne site and
benefits from funding commitments made by BRIB. It has the same representation and voting rights on
BRIB'S board of Governors as Queen Alexandra College. During the year rt paid rent of£164,690 {2020..
164,6901 to the Charity and received grants of £285,68412020. £189,994} At 31 March 2021, BRIB
owed Focus £121,000, being an approved grant of £121,000 {2020.' BRIB owed Focus £26,000)
New Outlook Housing Association Limited
The housing association operates housing and care facilities for blind and partially sighted people, largely
built on land owned by BRIB. During the year it paid £24.000 to the Charity in respect of rent and new
Tenancy Registrations (2020.. £24,570). At 31 March 2021 New Outlook owed BRIB £52612020.. New
Outlook owed BRIB £526)
25

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 March 2021
20. STATEMENT OF FINANCIAL ACTIVITY (2020)
The Statement of Financial Activity for 2020 is analysed between Unrestricted and Restricted Funds as
follows..
Unrestricted
Funds
Restricted
Funds
2020
Total
Income
Donations and Legacies
Charitable Activities
Rent and Tenancy Registrations
31,821
31,821
816,960
816,960
Investment Income
Total Income
66,393
915,174
66,393
915,174
Expenditure on:
Raising Funds
Charitable Activities
16,119
883,698
16,119
890,706
7,008
Total Expenditure
899,817
7,008
906,825
Net Gainsl (losses) on Investment
Assets
Net Movement in Funds
(262,902)
(262,9021
(247,545)
{7,008}
(254,5531
Balan￿S @ 1S1 April 2019
Balances @ 31st March 2020
4,390.510
4,142,965
14,014
7,006
4,404,524
4,149,971
26

THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 March 2021
21. OPERATING LEASES
At 31 March 2021 the future minimum lease payments due to the Charity under non-cancellable
operating leases in BRIB'S role as a lessor are as follows..
2021
2020
Expiry date:
Due within 1 year..
Land and buildings
67,380
67,380
Between 2 and 5 years..
Land and buildings
96,000
98,000
More than 5 years..
Land and buildings
1,634,000 1,658,000
For the majority of BRIB'S lease income, under the Transfer of Operations Agreement the Charty is
committed to making a grant to QACI Focus equal to the rent re￿1Vable. The future minimum lease
payments above are only for the element of the leases to QAC and Focus where the Charity is not
committed to making a matching grant.
22. POST BALANCE SHEET EVENTS
There have been no post balan￿ sheet events that affect these accounts.
27