Annual accounts make encouraging reading

A £42.7m income has led hearing loss charity RNID to record its first surplus for five years, its annual accounts show.  

For the year to the end of March 2020, RNID had an income of £42.7m against expenditure of £41.5m.

The charity was boosted by attracting increased legacy income which rose from £8.1m in 2018/19 to £11.4m. 

Its chair John Morgan and chief executive Mark Atkinson said in the forward to the report: “We have focussed on our financial performance and liquidity.

“As a result of a stronger financial position, we have been far more resilient to external events than we would otherwise have been but COVID-19 has presented further challenge and uncertainty.

“We do not know the long-term economic outlook but – having utilised financial support, managed costs and sought to sustain income – we believe that we are well placed to weather this storm.”

The accounts show that the charity gained £8.9m through the proceeds of the sale of tangible fixed assets, which was mainly earned from the sale of its London office, but these funds were not counted toward overall income and so have not artificially inflated income figures, a spokesperson for the charity said. 

They also note that the coronavirus pandemic had delayed the charity’s plans to transfer its care and support services to another provider, a process it had hoped to complete in early 2020/21.