Helping people find their lives again - RNIB

2. Net income from trading activities of subsidiary undertakings
Profit and loss
account
RNIB
Enterprises
Limited
£’000
RNIB
Services
Limited
£’000
National
Library
for The
Blind
£’000
Blind
Centre for
Northern
Ireland
£’000
Total
2009
£’000
Total
2008
£’000
Turnover 572 5,677 420 29 6,698 7,612
Cost of sales (460) (5,649) – – (6,109) (6,848)
Gross profit 112 28 420 29 589 764
Interest receivable 2 8 – – 10 22
Interest payable (11) – – – (11) (15)
Administration (62) (24) (8) 3 (91) (167)
Net profit 41 12 412 32 497 604
Amount
covenanted to
RNIB
Retained in
subsidiary
undertaking
(39) (12) (412) (32) (495) (724)
2 – – – 2 (120)
Balance sheet
Net Assets 5 – – – 5 3
RNIB Enterprises Limited sells Christmas cards and other items by mail order and through retail
outlets. It engages in other trading activities, such as commercial sponsorship and a scheme for
the recycling of toner cartridges, with the consent of RNIB. A loan of £200,000 has been made by
RNIB to cover the working capital requirements. Interest is charged at 2 per cent above base rate
on a quarterly basis.
RNIB Services Limited administers RNIB’s school fees.
National Library for the Blind (NLB) exists as a shell charity to receive donations and legacies,
which are transferred to RNIB to be ringfenced for the RNIB National Library Service.
Blind Centre for Northern Ireland (BCNI) exists as a shell charity to receive donations and
legacies, which are transferred to RNIB to be ring–fenced for RNIB Northern Ireland.
Financial statements for the year ended 31 March 2009 43