THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 Registered Company Nrnr. 1900123 Registered Charity Number. 5164TI IlllllllllUII •ACIXCHZM* 2211212023 COMPANIES HCiJSE A37
THE BIRMINGHAM ROYAL INSTrrLTfioN FOR THE BLIND GOVERNORS. REPORT (continued) 31 March 2023 CONTENTS Pages Officer5 and Advisers Auditols ReFk)rt 10-12 StateMentrof-FnaneiaFActivities-apd4nffle4nEYRFlFe-AwUA--.. .._. .-..__.._. *¢ Balance Sheet 14 Cash Row Statement 15 Notes on the Financial Statements 16to26
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND GOVERNORS, REPORT (conllnued) 31 March 2023 Officers and Advisers Govemors F5". Mr R Hindle Mr J M¢Jntgomery Mr C Gaso)igne QAC: Mr C Bradshaw Mr.1 Ri(knrds Mrs A J Moeever . Membets." Mr G Oakley (Chair) Mr M Quantnll {Resign&J 12 2022) Mr M Billingham (Resigned 6 April 2022) Mrs J Edgerton (ApFMJinted 31 May 2022) Mr R Kastuar (ApFanted 15 February 20231 Treasurer Mr J Dixon Company Secretsry Nicholas Gee (Apwinted 31 May 2022, ResvJned 22 May 2023) Extemal Auditor BIsP Fleming 1-3 Col*e Yard w0ster VIR12LB Prinapat Bank Lloyds Bank PLC 36138 New Street BimifyJham B2 4QZ Investment Managets auilter Chevw)t Investrrnnt Management Two SI)lu Bimiingham B4 6GA Registered 49 Crt Oak Road Hartjome Birmingham B179TG
THE BIRMINGHAM ROYAL INSTITLTfioN FOR THE BLIND GOVERNORS, REPORT Iconlinued) 31 March 2023 The Govemors (who are also Trustees and DirerAors for the purwses of Charity and Company Law) present their annual directors. report and finawal statements of the ChaTttable Company for the year ended 31 March 2023. The finanaal ststernerts ccAnpty with the Chartties Act 2011. the CompanÈs Acl 2006. Ihe MemorarKlum and Articies of Asswation. the Ststemenl of Recommended Prarti and Ihe FinancAal Reporting Stsndard (FRS 102). The Charitsble Company is also kn¢yKn under ts abbrevtj name of BRIB. OBJECTIVES AND ACTivrriES The Company has been established. as a Chartty. to adVce and promote the edu¢2tson and relief of tlind peotye or those people STgnificanty handicapped by defective vishm or threatened by blindness, and of.pe¢Jple with other disabilities and spe(ial needs by securing the provision of assistsnc and support and byothercharitable means. Furthemm. itprowdes foryaatses for recreatron and leisure for the benefit of people wsual impairment and other disabilitses. 11 leS out these objectives primarity by supporting organisations. prinopally Queen Alexandra Colkge and FocJJs Bim)ingham, with the aim of enabling blind and disabied peopie to lead their Ibves to the maxmum potenti81. inproving the qualty of lrfe and encouraging independence. The support lakes the fom of grants, the provision of reSoUrs. expeitse and encouragement to the. organisations. The Govefnors are aware ofthe Charity Commisston's general guidan on public benefit and believe that this supwrt tiyjether with their on-goiTNJ review of the Chariws aims, objectNes, future plans and gfdnt makn'ng policy satisfies these requrernents. Grant Making Poli It is the pofjcy ofthe Govemors to make grants only out of acthmulated inc£)me and foIbvng a deci5KJn of a meeting of the Board. Grants wll be consKlered oul of surplus irNJ)ffE available after am expenses have been adequately siyjrced. Grants may be made to qualifyirrfJ indivKluals orto organisations whose principal purpose is th8 SUPP)rt of blind people and sD3ntficanty handic2pFed by defec*ive wsion or threatened by blindness and other disabkni es. The total amount ofgrants to be made by the Charity is determined by the Govemors based on the level of available distributable reserves and the Charivs financ4al positK)n. Appli¢2t#?ns for grants are considered at any meetsng ofthe Board. ACHIEVEMENTS AND PERFORMANCE The Charity reNed total income for Ihe year of £1,066,479 (2022: £3,189), the Govemrs are pleased to report that £1.054,995 {2022'. £729,499) has distrthted or approved for distribution to its associated Charities.
'ThE BIRMINGHAM ROYAL INSTrrurioKFOR THE BLIND GOVERNORS. REPORT (continued) 31 March 2023 FINANCIAL REVIEW RESULTS FOR THE YEAR Income for trtis year vrds £1.086,481 o)mpared to £,189 in 2022. Tr drity was gralefvl to re1ve legacEs Wi the year of £18.561 {2022: £18,853). While the majority of rent receivable is distiibuted to the associated Charibes as grants. BRIB omtfftued to tenefit from the rent receivable for OakvKM)d and Beedi House. In fijrtherance of its objectwes, the Chartty made grants totalSng £196.474 to Fo($ Bimiinghaffl (2022.. £164,787) and £858,521 to Queen Aexandra Cdlege (2022.. £564.712). The Charity did not make any grants to any other Chaiity diming the year (2022: £nil). The Charity's investment portfolio made a defrit of £209.543 on disrM)sal aThJ revaluation in the year to 31 March 2023, LmPared ryIh a surplus of£110.739 in 2022. The Statement of Finanaal Activi on page 14 shovts outgoing resources of £1,183,946 (2022.. £833.048) thich when combined wilh intsjme and the decrease in the Charivs investment porttolio leads to the totrj net de(xease in furKds for the w of £327,1)08 {2022'. irKrease of £180.880). The Board is satisfth that ts activities during Ihe year. prinupally through its of its assoaated . charities, served to adequatety dis(tharge its dritable obie(ts. FIXED ASSErs Ari tangible fLxed assets are hekl for the wriM)se of canying out the Charivs main oblectNes. The Govemors believe the market value ofthe Charivs freehokj land ar¥J buildiros to be more than their net book value, althgh no indepeThJent valuations have been obtain, as it is considered that Ihe cost of obtaining the vabjations 15 Out d proportion to the usefulness of the infomtion. INVESThlE POUCY AND PERFORMANCE The Govemors, Investment Policy is to primarity invest Ki an appropriate mix of real assets. i.e. bonds. UK & intemational equities. cash, and from time to time, 0r asset dasses. wi order to generate the required levels of retum for the Charity to aLieve its objectives. The mix of asset dasses should reduce th8 volatility lch could result from a purely equty-based portfolio. Following a rewew by the Govemors in 2014. the Investment Management servi has been rried oul by Quilter Cheviot sinck July 2015. The (knmrs believe the investments (¥)ntinue to meet their requirements in tenns of suitabilty. The portfofio is managed on a dis(Yeti3ry baS by a leading finn of investrnent manager5. A sub- committee of the Govemors meels regularfy wtth the investrnent managers and i8 charged Vth monitoring the perf0rrnan against agreed benthmarks and ensuring Ihat the pothlKI is managed in line.wth Ihe Ststement of Investrnent Principles Ihat Ihe Board has approved.
THE BIRMINGHAM ROYAL INSTTfirnoN FOR THE BUND GOVERNORS, REPORT (continued) 31 March 2023 FINANCIAL REVIEW (Continued) INVESTMENT POUCY AND PERFORMANCE {CONTINUED) The investrnents portfo.0 continues to be structured and managed the aim of providing an appropriate Combinati of current inrye and growth potential for OUT charitls rewirements. As suth. the dtfficult economic and geo-political CondinS of the past year wll have had sorne impact but, overall, the portfolio has consistently prowded a perfomiance in line or better than the measurement detenined by the Board. Our inveslmenl sub1Mmittee is tharged wrfh" monitoring ihe. perfonnance and policy of the investment managers, Part¢1aY vAlh regard to Ethical, SoGial and Govemance oJnsiderations. and accoln91Y reports regularty to Board of Govemors. The Govemors, investrnent policy tskes acUnt of ethical LX)nsiderations and does not alk)w Speci investment in the tobacco industy. Environmental Soc4al and Govemance (ESG) is an inportant part of auilterfs investrnent process and they regularly engage toth irKIMdual ojmpanbes and extemal fund managers in relalton to fadors such as dinate tharoe. empk)yee rights and IM)ard rernuneratit. IV) RESERVES POLICY At 31 Marth 2023 Ihe reserves of the Charity consisted of £1.982.108 (2022 £2,038.232) ueStriCted designated funds. £2.244.646 {2022 £2.514.530) unrestricied general fijnds, and £nil (2022.. £1,000) restricted funds. The Governo have assessed that the minimum level of reserves ca1lat last year remains appropriale. and therefore commit to keeping invested in mathetable securities of £1.702,500. It is felt that this lèvel of reserves wll provide suffiuent furmjs to gerErate enough ine4)rrE to support the ongoin9 activities of the charity. This leaves £542.146 funds availabk ts distributton, {referred to as free reserves in mte 13 to the accounts}. It is at the Govemors discrelts)n to distribute the full value of these free reserves providing the distributitm woukl cary out the objects of the Charity. However, tt is the aim of the Govemors to manage the financigl resources of the Charity so as to pernit the assooaled Charities (FOcS Birmingham aThJ Queen knxandra Col*e) to enjoy the propety facilities ¢)n the Hart)ome site and to support financially Ihe activities of these tsw) Charities there appropriate and feasible. Further support of blind, partialty.sighted and disabled people. as govemed by BRIB'5 Constitutn, may also be made available. Further to the above aims, the Govemor5 intend to maintsin all the resources invested in Fixed Assets and those eamiarked to cover staff indefmities as desbJnated reserves and not make thèm available for discretionary distribubon. RISK ASSESSMENT AND MANAGEMEKr The Govemors conlinue to assess the major risks to the Charity is exFosed, in parti¢xlar thosè related to the operations and ffirns of the organtsation and are satisfied that systems are either in place or are being developed to mitsgate exFrf)sure to Ihe major risks. An annual revEw of the Charivs risk register occJJrs. Yalh parti¢)Jlar emphasis on the risks revolviryJ around the prinopal assets of the Charity, which generate the in¢))me frn which the Charity exerases its grant powers.
THE BIRMINGHAM ROYAL INSTttUTION FOR THE BUND GOVERNORS, REPORT (contirwed) 31 March 2023 STrUCTURE. GOVERNANCE AND MANAGEMEMr The Company. vthich is limited by guarantee (No 10123), is registered as a Charity {No 516477) with the Charity Commission and entered in the Central Register of Chariti'es. The Company is govemed by its Memorandum and Micles of Assooaknn. on 1 April 1985 li took over the acbvities. assets. liabilities and funds of the unino)rporated Chartty of same name had eSted Sin 1846. On 31 December 1997 the 0ratiOnS of Queen Ajexandra CoNege and Focus Birmingham were transferred to their new charitable CmpanIes. The Birmingham Royal InstibJtM)n for the Blind IBRIB) retained freewd property and investments and the income from these is distributed by grantstothese tharities and others working th visualty impaired Feople and people with other disabiliti'es. The administration ofthe Charity is effected bya Board ofGovemor5 vh)0 are both Trustees ofthe Charity and Dire¢*TS of the Company. The Board is made up of nine Govemors, three of 0M are appointed by F¢XUS Bimiingham, three by Queen Alexandra College and three by the members of BRIB. The Board of Govemors set out the general Folioes ofthe Charity, which are implemented by the honorary offIrS. The Vernrs and honorary OffirS (Company Secretary arvj Treasurer) are the Key Management Personnel of the Charity. AJI serve with)ut remuneration. The financial records were maintained by Queen Aexandra College during the year under a ser level agreemenL CONNECTED ORGANISATIONS Principal rJ)nnected organi5aknons are as folk3Vts: i) QUEEN ALEXANDRA COLLEGE (QAC) Thts Charity was establtshed n 1997 to take over the fvrther edUcan and training for operations of BRIB on 31 Dmber 1997. 11 has been granted a kKvJ ase by BRIB on part of tb Harbome site and b8nefits from fijnding {mMrtMents made by BRIB. tt has the rNJht to apwint one third of the. Govemrs of BRIB and no deciSiS can be made by BRIB Govemors unless at least one QAC . representatNe is present and votes in favour. During the year it paK! rent of £746,99J (2022". £627,71)0) to the Chanty and received grants of £858.521(2022: £564.712). FOCUS BIRMINGHAM This Charity was estabShed in 1997 to tak8 over. on 31 D8c8mber 1997, tr18 provision and promotion of servrces to blind or parbally stghted people in Ihe o)mmunty, the operations previously being called BRIB Vision servi$. tt also has been granted a long lease by BFB on part of its HaOme site and benefits from funding MMitmentS made by BR18. It has Ihe same repreSentsIn and votwig rights on BRIB'S trf)ard of Govemofs as Queen Alexandra Conege. During the year it paid rent of£194,474 (2022: £164,690) to Ihe Charity and reNed grdnts of £1%.474 (2022: £164.787). NEW OUTLOOK HOUSING ASSOCIATION LIMttED The housing association operat8s hcxtsing and care facmies forbiiThJ and partHlly sighted people. Lgrgety built on land owned by BRIB. During the year it paid £26.752 to the Charity in respect of rent and new Tenarry Registrations (2022. £25,460).
THE BIRMINGHAM ROYAL INSTmJrioN FOR THE BLIND GOVERNORS, REPORT (contlnued) 31 March 2023 REFERENCE AND ADMINISTRATIVE DEfAILS Details of the Charity's advisors. ujrrent Govemors and slatutory infornation are set rxjt on page 2 of these Financial Statements,. Ihe foliowirvJ Vre Govemors during the year and unless otheDMse indicated, seNed for the full year. Appointed by Focus Bimiingham Appointed by Queen Alexandra College Mr. R Hindle Mr J Montgomery Mr C Gasthgne C Bradshaw l Richards A J MeVer Electsd by Members Mr. M Billingham (Resigned 6 W 2022) Mr. G Oakley Mr. M Quanlrill Mrs J Edgerton (ApFJointed 31 May 2022) Mr R Kasluar {Appointed 15 February 2023) None of the Govemors has Y beneficial interest in Ihe charitable Company and all sep4ed without remuneration. Govemors recognise the need fortrann3 arKI have a TrainwKJ PcAiCycPrislng Inductll arrangements forfijture new Govemors and on-going training for exisknr¥J (>Mmors. As part ofthis all Govemors have received a pack of briefing material recommended by the Charity C(Knmission. The Charity paid £1,019 in the year for £1.O¢XI,(K)O of Dired¢Js and offirS insurance cover (2022.. £1,019). FiTfuRE PLANS The Charity has set a budget for 202&24" athitss will remain simiLarto wev*S years. STATEMETrif OF GOVERNORS. RESPONSIBILrriES We are required under Chanty and Company knyto prepare financial statements foreach finarrial period which gtve a tJue and fair Mew of the Chwitls financral acbvits'es during the peri¢>J and of rts financial px)sition at Ihe end of the per. In preparirKJ fUn¢al slakments giving a true and fair view we are required to: Select suitable accounting policies and appty them conststenty, ObseNe Ihe methods and princip$ in the Charities SORP", Make reasonable and prudentijdgements and estimates. State whetherappl1ble accountirKJ slandards have been follovRd give details ofany tspartures; and Prepare the financaal statements on the going concem basks unless it is inappropriate to presume that the Charity will continue.
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND GOVERNORS, REPORT (contlnued) 31 March 2023 STATEMENT OF GOVERNORS, RESPONSIBIUTIES (continwl) We are respJnsible for keeFyng ating re(x)rds enatle us to aStrtaIn wilh reasonatle aJraGy the finanoal position d the Chaiity aTrJ to en that Ihe finanad statements thmply wth applicable law. We are also sponSIble for safeguardiryJ the assets of th8 Charity and hen for tskiThJ reasonable steps for the preVentn and detedicn of fraud and other irregularits'es. DISCLOSURE OF INFORMATION TO AUDrroR So far as eac* of ts Govemors are re, there is r¥) relevant audit information (as defined in the Companies Act 20C61 of which the Company's audrtor is unaware, arKI eath ofthe Govemors has taken all the steps thatthey ought to have taken as Govemors to make Iliemsdves al1rd of any relevant audit infom)8tion (as defined) to establish that the C¢ynpany's auditor is aware of that infomiation. The G)vemors have prepared this rep)rt n aOrdan V•ith Ihe w?al provisons relab'ng to c¥)mpanies sul.ect to the small mPanS regime within part 15 of the Companies Ad 20CE. on behalf of the G0mor5 tsJ)IKJ G 0aaY Chairman Registered Off 49 CrAJrt Oak Road Harbome 817 9TG 19 July 2023
THE BIRMINGHAM ROYAL INSTrninoN FOR THE BLIND INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND OPINION We have aurfitsd Ihe thala1 stalernents ofThe 8irnwvJham Roya IrtitUte fthe Bld Ithe'tharitr/l fcf the year ended 31 March 2(Y23 whtch criSe the StsteI cl Finanrial Ackn. Sheet, statenI of Cash H¢)ws and the rdaled notes, indudiro a Surrtyr c¢ sunftant acctsJntiTrJ pSue5. The financi p01tg framework that has been applied In Ihew preparation ts applble Lqw aThJ Ur¥ted Pc£amtilg stars, IrU&¥J Finantsal Rep)iting Slandard 102 The Financral Rewtiro StaThlard apF4w2ble in ts UK aryj Rybk crf IrelaTrS (Urited dorn GerETrlly A¢tèpted A)Unting prac). In our opinion the thar4 gNe 8 and fair iew of Ihe slate of the charitat4e C(fnp affars as at 31 VArch 2023 and of its iwming resources and apalk)n cAresCrtW, Ind"rj rts uYx)mè wdthre fartr yearthen eTrJed: have trfftn proF4ty prepa in accryde vAlh Unit&J Ki)9thJn Gtepj Practio,. and have teen prewed in CordanCev1h Chth 2011. BASIS FOR OPINION We conducted our autht in wdh InlwnatKThl Stsrthds IUKI IISAS IUKI} and apICable Law. Our reSpS11r0'eS urtyjer Ih05e standards are fiJlher des(yQ)ed Ihe Audit(¥s' re$wr"1kne$ for the audit of the ffnanaal stnts sthn ofwr We ae ThThYent oflhe 1[th cunpany in acC(¥d with the ethical requiremnts that are revant to our aurfrt of Ihe finar¥ial statsrywts irt the Urmted bfjTh>Jm. trtbJthng Ihe FnatKial Reptirg C(Jncifs Ethi(#l Standa. and ¥%e havèfuffiled owothw e1 4)nbIle$ n COrdavAlhtr rg]uirements. WeboI8ve that the audit evKlence we e Obtn 15 5uifLy"pml aThJ apFwKatetO a bas&ts oplyc. CONCLUSIONS RELATING TO GOING CONCERN In aKlib'rvJ the fincial State[rts. havè that tr Trusttts, us• dthe goThJ o)ncem basi5 of wJJnlir¥J in tho preparation of Ihe firwclal statements 15 aFwpriate. diwdualty ¢Y tr)Ikthety. may cast SKJnthcAnt drAl (m thè thaitabtè cxnp3nls atilty to ccdyiue as a wng ts)n¢em for a pericJ ofat leasttsyee months frc¥n vthen tr finanlial StsInts are auUKwd tr issug. rresk¥)nsiblth8s and th& r8sFrfThbi&b8s oflhe Tntssvilh resFed to C£eM are des{Ld wi tt19 ffjbvants8cticS ofthis ffjpjt. OTHER INFORMATION The other infonnatn crynprises i) lh8 AnThJal R8PJt other than Ihe ffinarKMI stateThnts 8rkfj our ' Auditors. Report the. The Tn4Stees arE rEskv61)le fty tPe thr LX)tiwned bvfthin the Annual Report. Our onn on the financial statements dces not co4erts otherinfcrnlKJn and. exceptto Ihe extent othemtse explrivy sta1 in ourreprt we &)notexpress anyl(xm ofa5surrt4 (xyS¥tl. Btoread the other informati)n and, . i) doing $0, Sler vthether the Olher in•Thal)n 15 maleriaty inconsistent the fn3rri8151atements or r knoge obtsined n Ihe ¢wrse ollhe audc ty¢)thtywise to be matWo mtsslatèj. Ift #knbfy such material ino)nsi4tentyes or aFyareni matla1 misstatements, we are requ¥ed to detwmire gNes iistr to a material mSlement in the nanci81 slat•ments th&nselves. If, based Ihe wcmk have [erfm&j. we c(rfx thal Itwe is 8 material misstatem&rt ofthis olherinformalim we 8re requwed to rewtthatf Wg have nc4hiThJ to rep)rt in this ward. OPINION ON OTHER IAATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In (pni)n, bas¢d w th¢ vyk undert2k8n in the CtsJTse ofthe a infomTrtion gwen in Ihe Tnth. R8kXt fina¥ yoar slataments are F¥eped is (w&stentwfth the fina statements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTM)N In Ihe 3ht ofour kncNge and of Ihè th•ilAL4e ttfflpany aThJ Is eMr¢mment L*angJ in th8 crJr5e ofthe autht, we have rKJI idwlified material mbsststernents in the Truste8s' Re[pt We have nthng to rewt in rewa of the nwttw5 n re to Cthnpa P£t 2( wuire us to to you if, in branche5 ntstvigted by us., LY 10
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND INDEPENDENT AUDITORS. REPORT TO TrIE MEMBERS OF THE BIRMINGHAM ROYAL INSTNUTION FOR THE BLIND have not received all eypknakn foroJ theTrustees were notentiued to kYep¥ethefinarKial staiernents in 0ydavAth the smaUoJrnpanies wime and take a{antage of Ihe srndl Oan1¢S exernptiorts FK¢PWi¥J Ihè Trttstees. Rwl and from the Wment b) prepare a strateg ReFyL RESPONSIBILtTIES OF TRUStEES AS expL9ined rrfft fully in the TnJ51ee5' Resp SlaterrL TnBto8s (vrt are aLso ts drect ofthe charftsble . ¢tJw)anyfrthe purposes ofc4npary rawlarer8spxtsibI0T1heryorat1 clthefinartial ststementsand tsb8in9sth"sfi8d thaltheygN&a trUtrar farrwew. ar1r9h i7ternalcot7trd aslheTnJstee5detenrrinei5 rEce55arytoenabb the wspaTati¢Jn offinarria statements thala free material mste.nWL Whett1 due to fraud or er. In preparing finanryal Statents, the Tnjstees a for assessyy tharitsble rA)rryJanYs athlty to o)ntinue a88 w'ro ¢Xnrn, di)5g. 85 apph.tr, mattW5 refated totyyrvJ ccrfKemaThJ using lh?1r0 conrn basi50fac(x)unting unlessthe TrLK5tees e1lhermtts) b]LJale lhe ftsitable tyJrwtyto¢aase chavg r#) realith atemative bLrt to d) so. AU0oRs. RESPONSIBunES FOR THE AUD OFTHE FINACl4L STATEMEPITS Ow oblte5 we to obtain rea5cffiae aWra[ atrtArt Ihe finarKAI ements as a vthc a ffee from matsrial misstatemen¢ 1here to fra orerror. andto Je anAu(li, ReFx)rt1hatirJeS Reasorwbb assuranc8 • high knl of a$San¢e, b(rt is r4)l a guarantee that an authl UMtI#ed in aCrdan with ISA5 (UK) wiu aknys detecta nterIal misstatementvthen it e¥i%ts. Msta1errts rAn aefromf or errorand aTeC0%er&I materia rf. Th)dN#duafty c in the agat8. Ihey COU be e¥wJed lo ecCrsnS ofusers taken on the basis ofthese . financAal slaiernents. lrrngulit$. indudwi9 fr•JJ. ar• of rrfM vith ¥kJ re9uwb. We ¢Jesw wo(%dLnS In our re$rM1Irtre$. to dèted mat?al ntalerrtents n respect 0fuTegubri. ¥)du¢Jng fraud. The exlenl to bthich our prc(tdtxE$ are capat4e ofdete("ryJ wregubntses. indLNSThJ tra1 is delaibj tebm. The prlureS undertaken in c¥derto iyenffji aTrJ a$$ rtsks ofmaw n¥&$tIn resrrtofYwJukntEs, irKluding fraLtrJ comlartt wilh and reguLiliors. are as ftkn: JenbficalK)n and as5e5smentof the iisks of wregukrib¢s', fr)". dnon oJnF4iarKe', o DeteirKJ and th&rsksoffrJLKI j F•vè of8ny aclual. gJSFded or eJed fraud.. We have coisidered the matters rfksojssed the audit erygefflenltwn rèjarrfing PvJ4fand ¥thère fraLJ mtyJhl oxur in the fiar81 $¢8t9rnts and any p(rt&itral Offra. As a resuftofthe5e the 0r¥beS arnj trKYtheststmay ethtwithin theorganisatmin forfraud, area forlraud. In o)mmon wth all au(lits uThler ISAS IUKA are akn to p•fm 5F•ift WIXr•S to resFond to the rtsk m8nagemÈrt ovenide. We Identi and obt2ined an uTrJer51aTrJw¥J ofthe rBwl8Iws lha1 ofswJnfficanc8 ID the Charity by discUssnS vilh TnJste8s and by updating ourundwslaThJro (rflhe sedor n lthththe Charity opwated irh. ¢j wulations tst gre of direct swIfince to Ihe thlty and cl vhjth rK)n corrgtraKE ¢wkl fesujt li fflate sSIaterrt are the Chaiies A¢ . Charibe5 SORP * lax legisL4tY. In additDn, we have cwsidw&Y d ¢lher ncrt a (tired effeA cffj the ffinanoial stat8ftnts but ¢ncewith be bmdamentsl to Ihe d[)$atlty kn Owdtè orto ov(Md a rnriJ waty. ReMving Ihe slat1 disrJJ5LWB5 WKI tssbng to supwytiNJ dcthmentstion to assass ccfflpliarTh wilh provbions of relevant kqws wvj r•JuLaticms deed as havirvJ a ¢J"rteff&#QTrlhe fin181 $talerrwnts',
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND INDEPENOENf AUOtroRS' REPORT TO THE MEMBERS OF THE BIRMINGHAM ROYAL INSTffuTION FOR THE BLIND Undert3kiro 51Jb5tantNe swnpk ba tesbro [¥fin tlyd ¢&kxJL$ matenal rKome slreams kn enswe Irne has been appropriaw aThJ xojratety: Enquiring of manageffentand trknse ?th govern8rts.iknC8ThThJ aTrJ F4nlial lijation and dams.. Perfoming ana.¢81 prdu10 thanyrSU810rUWpthl rdali)nstrKpsth may kts ofmatsrial mi5St8tement due to frwKI,. . In addressing the riskoffraud th Man&awtoMJ8 oyoknJ5. te51¥vJ the apWOpriate ofjoumal entr'es and other adjustnEnts'. assessing vthether the Judgnts made in makng acYLJuntirrfJ estynate5 are indutive ola F¢)tentta bHS. We alsocornThoJnid TelantlenltsJ aThJ aTrJ Fthntdtrat•J kStr) eThJagla nwnternand r¢mthe4 alortb any offraud C{nrfjwe wlh WLdatws IMrNJghotrtthe ajtt. th& rf$k ofnot d0tecfj a mrO Misstst9Mentd to fraL#J is hpjhwthan ts riskofnotdoteclry one resultirrtJ from an error. fr1 may liv0 delitrerdle cryteaknent by. fiy ewpkn. ltyyery. mi5rewesertati(Th 1fvgh lUsion. Trr¥ •rè inherent limitatrons in Ihe aLJit prCedureS perfm arJ Ihe bjrther remcN&J nc(Pan with Lvs and reguktion5 frpm the,events arKI tr8nstons fied li Ihe finwtsl statements, the $5 beo)rre of AfiJrftherdes0ipts' ofourresF#)nsti¥lrfiesforthe drt0fthefinaSIateMents is lo¢ateJ onthe Financial Repjthg USE OF OURREPORT Thk% is made sokty to the ctsitale comp$ nwntw as a b)ty. wi acuxdw with Chapter 3 of Part 16 of the Companie5 Act 2006. audf(%Trkhas undertaken sothatp r[)ht51 to thè dwitale tompantys merYJers Il¥)s8 Matte we are requwed to state lo them in an ALK1rtry5' reF(t arkj tr no otrw [Fe. To thefvllest extent Fernitted by L3W. we do not xcepl or assume to anycTh other Ihan the thae oJThyny aThJ its merkn. a5 a bjty, for ryjr audit wort fty tlis rebxNt V&* ha¥efrynW. . AndrewWti¢xl FCCA{S8miorstatuiory audiior) frx and bthaff of Blshop"Flemlng LLP Chartered Statutory Audit5 1-3 Colege Y¥d VVR12L8 Date.. 17th December 2023 slw FMIr LLP are el¥)e ID * a5 lit¥ n terThts of 1212rf1he ean ALt 2CrfA. 12
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND STATEMENT OF FINANCIAL ACTIVITIES {Including the Income and EXperltUre account) FOR THE YEAR ENDED 31 March 2023 Unrestrithd Restrlcted Funds Funds 2023 Total Totsl Income Donations and Legaues Charitabk Actsvrties Rent and TenanGy Reg'stralions 20,140 20,140 22.162 970.698 970.698 817.870 Investment InCrne Total Income 75,643 1.IH.481 75.643 I,.481 63,157 3,189 Expenditure on: RaisirYJ FurKIs Charitable Adiwbes (16.831) (1.166.115> (16,831) (16.713) (1.IXK)} (1.167.115) {816,335} Totsl Expendlture (1.182.946) (1.(KM)1 {1.183.9461 {833,048) Net Gainsl {k)sses) (In Investrnent Assets Net movement In funds (209,543) (326.CQ8) (209.5431 (1.OCKIl (327.0081 110,739 180,880 BalaeS @ 1 Apil 2022 8alances @ 3151 March 3)23 4,552,762 4.226.754 1,tw 4,553.762 4,372.882 4,226,754 4,553.762 2022 comparth've$ anafvd itheen restrd arKI unrestricted fiJrKts are at note 20. Unrestrt¢ted Funds Incorne and Exponditurg, Net of frKstwical Cts 2023 2022 Nel Movement in Funds latve) (Less) ladd k(ga1r) on inveslrnnts 1327.008) 187,7 180,880 27,998 depreckiI)n of the year cabJkted the reydlued affKwnL 1,080 Hlstorlcal Cost (Defictt) I Surplus forthe year (137.931) 209.958 The sUS IDrts ywfor 2{ PLV)ses £137.931 (2022: *crfW.9581 AJI anwunts relate to contiwirg 13
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND (Company No 1900123) BALANCE SHEET as of 31 March 2023 2022 Fixed Assets Tangible Assets Investments 1,958,920 2.374,991 4,,911 2,015,044 2,526.114 4,541,158 Currenl Assets Debtors: AmnIS fallirg due wlhin (ne year Cash at arKI In Hand 10 5.617 62,780 68.397 4,554 23,302 27,8Sfj Current Liabilities Creditors.. Amounts falliro due vnthin one year (175,554) <15,252) Net Current (Llabilltlesy Assets {107,157) 12,604 Total Nel Assets 4,226.754 4,553,762 The Funds of the Charfty: Unrestrlcted Funds General Fund Revaluation Reser+ Designated Funds Restricted Funds 13 14 14 15 2,244,646 . 622.0 1.359,148 2,514,530 624,040 1,414,192 1,¢X)O 4,226,754 4,553,762 The finaTrial statements are prepared in aran with the prowsy)ns applitsble to o)mpanies subjecA to the small CoMpans, regme. The financ4al siatements on pages 14 to 27 e apprOd by the Govemrs, authorised for issue on 19 July 2023, and signed on their bthaK by:" G. Oakley C. BraJshaw 14
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 March 2023 2023 2022 . Cash flows from operating acbvitses: Net Cash from Operating Activities Cash flows from investing athitses: Dmdend income Interest received Proceeds from sale of investrnents Pur¢hase of Investrnents 22,254 {159,404) 75,627 16 476,819 432,997 (431.384} (444.007) 63,156 Change In cash and cash equlvalents In the reportlng perfod 143,332 (107,2571 Notes to the Statsment of Cash Flow 1. Reconciliation of net (expenditureifincome to Net Cash flow from Operaling Activities 2023 2022 Net (8xpenditureYincome for the year Adjustments for. Depreaation tharges (Gains) / losses nveslments Bank Interest Receivab WKI Investrnent Inrxjme (327.(K)8) 180,880 56.124 56,124 209,543 (110,739) 75,643 63.157 (136.984) 63,108 Increase in Debtors Increase in Creditor5 arKJ Deferred IncL Net Cash Infiowl(Outtlow) from Operating Activitiès (1.065} (3.846) 160.303 218.686 22.254 (159,404) 2. Analysls of Change in Net Funds At 1 Aprfl 2022 Cash Flows At 31 Mar¢h 2023 Cash in Hand Held as part of investrnent F(4lfofio 23.302 78,631 101.933 39.478 103,854 143,332 62,780 182 485 245,265 15
THE BIRMINGHAM ROYAL INsTifL10N FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 1. ACCOUNTING POLICIES (a) Basis of Accnting The financial statements have been prepared under the historical cost conventw)n. modifth to irKlude the revaluation of assets and in accordan vAth the Companies Act 2006.These financial statements comply with Finanaal ReFJTting Standard appCable #i the UK and Rewblic of IrelaTrJ (FRS 102) (effectwe 1 January 2015). In addithjn: (11 BRIB is wngdered to LE a public benefft entity. (21 The financial ststements have been prepared under a goirKJ CCKrn basks. and thete are rm) material o)ncems in this regard. (3) BRIB is a Company limÈted by guarantee (1900123), ino)rpJrated in England and Wales with a registered Offi at 49.Court Oak Road, Hart)ome, Birmingham ,B17 9TG. Ib) Uses of Estimates and Judgements When preparirKJ the financtal statements. management makes a number ofjudgements, estimates and assumptions ab(xJt the recojnltp and measurement ofassets. Ikqbll'es. income and expenses. Tha Govemors are of the cyinM)n that there are no significant key areas of managwnent judgement and estimates used in the preparation of the financial statements. Ic) Tangible Fixed Assets Tangible fred assets are retsjrded at c£tst or valuatJn. Tar¥JIb assets vthith have been donated to BRIB are rewrded at their ¢urrent u$8 valuation at the time ofau4UiSitk)n. Expenditure ofless than £1.OLI) M planL lumibjre. fre$ ard fittings is char9ed as resources expended In the year of acquisilton. Frxed assets fijnded by speofic donalb)n are Capitalised and depreLiated in line with the nOnal depreciation rates shown below. SFeoficdonalions toaquire suth assets are brought into the ststement offinancial activities vthen receNable and ir)duded in restricted funds. DepreQath on the value of such assets is charged against restricted funds. Deprecaation is prowded on al1'tangib fixed assets at rates cabjlated to write off the cost or valuatK)n of eath asset less ts estimated resKlual value over bts expetsj useful lrfe as follows: Land Freehold Prcoerty depreaation Straight basis over tha expeded usefijl life of indivrdual buildings, as deterTnined by propety adviser5 (behveen 15 and 50 yeats). 16
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 1. ACCOUNTING POUCIES (¢oDtinued) (d} Income Inrne is included in the financial statements C an ac¥7uaL8 basis. Inc3Jme from legacies is accnEd when the rstsipt of th818gacy is wobable and the affnt to be rec£N8d (2n be reliably estimated. (e) Grants Grants reiVed towards SF)echlc proieds are taken to in(xJme duriThJ the per¥>J in vthth Ihey are receivable. Grants payable are reo>3ni5ed as expenditure en the cLvnmitrnent is entered inlo. Illhere such a grant is to be paid over by instalments. the cKrtstarKJirvJ balan is disck)sed as a liabilty. (fj EXnlture Expenditure ts aLXX)unted foron an acCnlS basis. Thecostof Yreo)verdble ValueAdded Tax is incled th the itern of expense to it relales. (g) Investments Investments are stated at mathet value at the balan Sheet date ths provision for any permanent diminution in value OL7n9 after the batance sheet dats. Any gain or k>ss on disposal or revabation ts taken to Ihe Statement of Financial Actsvrties. {h) Funds Restrictéd Funds These consist of monies reoived by the CharTty for speafic wrposes less expendtiure to date. Unreslrictsd Funds General Reservè The general reseNe represents the free reserrfes target is the minimum Ve1 of reserrfes Ihe Govemors have assesseil SI¥kj be ring-fenced arvj relainwj invested in marketable securities. Free ReseNe Thi5 fund reprvsents the pernitted distributable element of the unrestrided fund& Deslgnated Funds These funds. vthich have been set aside froyn the general fiJrvJ. equate to the net took value of those tangible assets thich are not psented by restrided fijnds toJeOw such olher sums as may be . d8temined by the GoVernS from time to time. 17
THE BIRMINGHAM ROYAL INSTITLrrioN FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 li) Voluntary Help No finanaal value has been attritxrted to th8 VOntary he¥J 1Ved by the Charity during ts year. 1. ACCOUNTING POLICIES (continued) (i) Financial Instruments The Charity only has financ#al assets and finanaal ffabilities ofa kind that qualrfy as basic financial instruments. Basic financial instruments a in'alty recc¥Jnised at transactoon value and subsequenly measured at their settlement value. 2. CHARITABLE STATUS The Birmingham Royal Instituti¢)n for Ihe BliThJ is a regisiered Charity and is exempl from Inc41me Tax and Caprtal Gains Tax provbjed ts incx)me and gains are applied for dritab purposes. 3. DONATIONS AND LEGACES 2023 2022 General Fund . Le9acies Grants, Donations and Events 18.561 1.577 20,138 18,853 22,162 4. INCOME FROM INVESTMENTS 2023 2022 Listed Fixed Asset Investrnents Short Tem Deposts 75.627 16 75,643 63.156 63,157 S. COST OF RAISING FUNDS 2023 2022 Investment Management Fees 16,831 18
THE BIRMINGHAM ROYAL INSTrruTION FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 6. CHARITABLE ACTMTIES 2023 2022 General Fund Grants to Queen Alexandra College Grants to Focus Binningham Administration and Financial SeNices 858.521 196.474 55.996 564.712 164,787 30.712 1,110.991 760,211 Deslgnated Funds DepreciaticKJ of Fwl Assets 56.124 56,124 Restrfcted Funds Depreciation of Fi1 Assets Total 1,167.115 816,335 Administraticn and Financtal SeThiLYS cx>sts in(Jde GovemancÉ costs of £10,710 (2022: £11.928>. Auditors ReMeration. Extemal audit services: Other ServiS. 2023 10,710 2022 10,200 1,500 7. GOVERNORS AND HONORARY OFFICERS The Govemors and honorary offws (Company Sretary and Treasurer) are the Key Management Personnel of the Charity. No remuneratirm Vfds paid to any Govemor or honordry Offir. (2022.. Nil). During the year no expenses wefe daimed by any Govemor or rK)rary offir£r (2022.. Nil>. Al expenses are incUed wholly and exdusvely in caryiryJ out their duties as Govemors of the Charity and are in The Charity paid £1,019 in the Yearfor£1,l1.lxJ of Direcxs & 0e[S insurance cover (2022: £1.019). 19
THE BIRMINGHAM ROYAL INSTITIrnON FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 8. FIXED ASSErs Freehold Land Freehold Bulldlngs Total ' Cost or Valuallon 1 April 2022 Disposals 31 March 2023 Depreciation 1 April 2022 Provided in the Year 31 March 2023 Net Book Values 31 March 2023 760.IJ)O 4,572.889 5,332,889 760.IXIO 4,572.889 5,332,889 3,317.845 56.124 3.373.969 3,317,845 56,124 3,373,969 760.1))O 1,198.920 1.958,920 31 Mard12022 760.C(M) 1.255.044 2,015,044 The freehold land and Ixrfdings are the subJ"e¢t of leases lo F¢$ BinniWam arKI QLEen exandra Ctjlege. When the Company was incoted in 1985. trE extsttng assets of Ihe unino)rpordted Charity were. laken over freehokl land and buiklings and short leaseholds were subsequenty professitinally revalued. As the assets comprise the prime properties for main Charities vthich BRIB supy)rts it is not considered necessary or appropriate to have Ihe properties revaI[d at the cwt time. If freehold Lgnd and buikjings had not be revatued. ihey wcAJld be stated at the follomng amunts: 2023 2022 Historieal Cost Depreciation based on historical c4)st Historical net book value 3,993,888 3,993,8&9 2.657,929 2,602,885 1,335,959 1,391,CM)3
THE BIRMINGHAM ROYAL INSTITLMON FOR THE BUND NOTES TO THE FINANCIAL sTATEMErs YEAR ENDED 31 March 2023 9. INVESTMEKrs Llsted Invaslments Unrestrlcted FurKI 2023 2022 Balan @ 1 April 2022 Less: Cash held as part of rtfol) Market Value @ 1 April 2022 Add.. Purthases Less: Sales Gainsl (Losses) on disposal or revaluation Market Value @ 31 March. 2023 Cash held as part of wrtfdh) Total Investments 2,526,115 2.468,819 {78,631) (143,086) 2.447.484 2.325,733 431,384 444,007 (476,819) 1432,997> 209,543 110,741 2,192,506 2,447,484 182,485 78,631 2.374,991 2.526,115 At 31 March 2023 there were no inveslments with a value in exlxs of 5% of the total value of tha portfolio. The market value of investments at 31 Marth 2023 is represented by the follovAng". Investments Listed on a Recognised Stock Exchange 2023 . Total 2022 Total Fvxed Interest Alternative Assets Equities Total 271.583 255,470 350,598 1,751,885 1,570.325 440,129 2.192.506 2,447.484 10. DEBTORS: Amounts falling due within one year 2023 2022 Trade debtors sociated Organisalions Acoued Income Prepaymerts 160 526 3,613 255 5,362 255 5,617 21
THE BIRMINGHAM ROYAL INSTtruTION FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 11. CREDITORS: Amounts falling due within one year 2023 2022 Grants Payable to Associated OtganisatKK AccNals 160,430 15,124 175.554 15,251 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds Total Fund Balances at 31 Marth 23. are represented by: Tangible Fixed Assets Investrnents Current Assets . Current Liabilities 1.958,920 2.374,991 68,397 175,554 4.226.754 1,958,920 2,374,991 68.397 175,554 4,226.754 13. RECONCIUATION OF MOVEMENT IN UNRESTRICTED FUNDS General Free Designated Reserve Reserve Funds Note 14 2023 Total As at 1 April 2022 1.702.5(M) 812.030 2,038,232 4,552,762 vement in the Ypar (269,884) {56,124) (326.008) Transfer befvfftn ffiJKIs 269,884 (269.884) As at 31 March 2023 542.146 1.982,108 l Avalableto dtstsitrxrt•
THE BIRMINGHAM ROYAL INSTrruTION FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 Marth 2023 14. DESIGNATED FUNDS Fixed Asset Revaluation Reserve Reserve Staff Indemnlties. Totsl Balan at 1 April 2022 1,391.004 624.040 23,188 2,038.232 Movement in the year (55.044} (1.080) (56.124) Balanc& at 31 March 2023 1,135.960 622.960 23,188 1,982.108 Th8 FIX Asset Reserve represents tryJether the rev81 reseprfe. lh8 net book value of fixed assets purchased from unrestrirted funds. The Revaluation Reserve arose from Ihe rejaI of freehokj Iw¥J arml buiklings in 1985 arnl is shown separatety as required by Company Law. Staff Indemnities represent the potentiaf liabifty that woukl fall to the Chaiity sFK)ukJ any employee of Focus Bimingham and Queen Ajèxandra College. whose ernployment transferred from the Charity li 1997. suffer redundancy. 15. RESTRICTED FUNDS QAC Llbrary Fund 'Balance at 1 April 2022 Movement in the year Bal at 31 March 2023 1,000 1,000 During the year BRIB paid QAC Ihe £1.QIX) that beqjeathed n the prewous year th a request that the fundsbe SFEnt the Library at Queen Alexandra College.
THE BIRMINGHAM ROYAL INSTrrimoN FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS . YEAR ENDED 31 March 2023 16. CAPITAL COMMttMEPITS. There were no capital commitments ccmtracted up to 31 Marth 2023 {2022: £nt4. 17. OTHER FINANCIAL COMMrrMENTS During the year BRIB awarded ForS a Grantof £48kto fund the staff c#)sts of a 2 yearteI* support service. At the yearend Fcrus have not c£¥nmenced this proiecL or rec¥uiled thè staff lh8 grant will fund, it has therefore not been includ&J as a h'abilty at the yeareTrJ. bui is noted here to confinn thata financial cnmmitrnent remains. 18. coMfiNGEMf LIAIBILMES There were no contingent liabilities as at 31 March 3)23 {2C122: £nil). 19. CONNECTED ORGANISATIONS Principal o)nnected organisations are as fol(yNs: Queen Alexandra College (QAC) This Charity was estabfished in 1997 to take over the fijrther edUtsn and trainirMJ for work operations of BRIB on 31 December 1997. tt has been granted a k)ng lease by BRIB on part of tts Harbome site and benefits from funding ¢(nmitments made by BRIB. It has the right to appoint one third of the Govemys of BRIB arKI no decisions can made by BRIB vernorS unless at least one QAC representative is present and votes in favour. Ouring the year it paid rent of £746,990 (2022: £627,700) to the Charity and retswed grants of£858,521 (2022: £564.712). FOCUS BIRMINGHAM This Charity was estatrAished in 1997 to take over. on 31 December 1997, Ihe provision and promotion . of ServIS to blind or partiany sKJhted Feopk in the c)Jnmunty. the operat5 prevh)usly being called BRIB Vision Servi. It also has been granted a bng lease by BRIB on part of ts Harbome site and beneffts from funding (t)mmthents made by BRIB. It has the same representslion and voting rights on BRIB'S t#)ard of Govemors as Queen Atexandra College. During the year it paid rent of£194,474 (2022: £164,690) to the Charity and r1Ved grants of £1%.474 (2022: £164.787). New Outlook Houslng AslatIOn Limiled The llousing association operdtes housrrfJ and care fa(alrfiestr blind aThJ partially styd people. largèly built on land owned by BRIB. During the year it paKI £26.752 to the Charity in reSpt of rent and new ' Tenancy RegistratKJns (2022: £25,460).
THE BIRMINGHAM ROYAL INSTITUTK)N FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 20. STATEMENT OF FINANCIAL ACTivrfY (2022) The Statement of Financial Actiwty for 2022 is anatyged bets¥een Unrestri(aed and Restrcted Funds as follows: Unrestricted Funds Restrict•d 2022 Funds Total 2021 Total Income DonaticS and Legacles Charilable Athe$ Renl and Tenancy Regi8lrath)ns 21.162 22.162 , 2.036 817.870 817.870 816.39) Investrnent Inclime Total Income 63,157 2.189 63,157 903.189 62.469 880.895 Expendllure on: Raising Funds ctwitable ActtveS . 16,713 816.335 16.713 16,105 816,335 1,085,891 TO Expendituro 833,048 1,101,996 Net Ga¢nsJ (bssesl Irwestr Assets . Net movement In funds 110,739 110.739 444,012 179.880 180.880 222,911 Balan @ 1.1[ 2021 Balan @ 31" March 2022 4,372,882 4.552.762 4.372.882 4,149,971 1,(MXI . 4.553.762 4,372,882
THE BIRMINGHAM ROYAL INSTITUTION FOR THE BUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2023 21. OPERATING LEASES At 31 Marth 2023 the future mnimum lease payments to Ihe Chanty under non-cancellable operating leases ui BRIB'S role as a lessor are as folbjvs: 2023 2022 Expiry date: Due within 1 year. Land and buildings 81.833 67.380 Between 2 and 5 years. Land and buildings 109.112 96,000 More than 5 years: Land and buildings 1.827.626 1.634.000 .For the majority of BRIB'S lease inc(xne. under the Transfer of Operatw)ns Agreement Ihe Charity is committed to making a grant to QACI Focus equal to the rent reNable. The fvture minimum lease payments above are only for the element of Ihe leases to QAC and Focus where the Charity is not mrnitted to mar a matchirKJ grant. 22. POST BALANCE SHEET EVENTS There have been n() pM)st balan sheet events that affed Ihese aC¢>xts.