NCBI – Accessibility for All

Annual Report 2015

Contents

01. Chief Executive Introduction......... page 06

02. NCBI’s Governance........................... page 12

03. What we do?...................................... page 18

04. Our Services...................................... page 22

05. NCBI Fundraising.............................. page 34

06. Directors’ Report

And Financial Statements.............. page 42

01

Chief Executive Introduction

I am delighted to welcome you to the 2015 annual report and my first as CEO of NCBI. This report is part of the commitment we have made to be open, honest and transparent about the work, finances and impacts of the National Council for the Blind of Ireland.

2015 has been a challenging year for NCBI in many different ways, not least in reconfiguring the organisation to ensure its long term viability. The reduction of funding from the HSE from 2008 has had a significant impact on NCBI and its ability to deliver services and the ongoing trust issues around charities has impacted on our fundraising abilities. Remedial action internally has been required and staff have been fully involved in that process, one which has allowed NCBI to emerge at the end of it stronger and more able to deal with any future challenges it may face.

It is important to emphasis, in the current climate, that NCBI has a strong tradition of good governance. We are committed to retaining the trust and goodwill of all of our supporters. This is why these accounts are presented in the Charity SORP (Statement of Recommended Practice) format; the Charity Regulation Authority preferred format for all charities to report in. NCBI has also adopted the Governance Code for Voluntary Organisations and finally we have signed up to the Principles of Good Fundraising. NCBI is also committed to making our organisation more open and accountable, we now have a more accessible website on which we publish information about the Board and senior management, above and beyond any minimum standard. All of which, we believe enables NCBI to continue to provide an excellent service for the 224,000 people in Ireland with sight loss.

NCBI worked with 7,665 individual service users in 2015, of which 1,674 were new to NCBI. It is a testament to the professionalism of the staff that despite going through a difficult year we saw no dilution in the quality of the service we provided. This report details the large numbers of service users taking up our various services from training and rehabilitation to assistive technology to counselling and emotional support. We know we can do more to reach more people with sight loss and make a greater impact on their lives and we plan to do this in the year to come.

Our vital fundraising activity, which supports 40% of the cost of our services, has improved. We have opened a number of new shops, mostly in Dublin, which are staffed by volunteers. These shops are a vital source of income and play a pivotal role in the financial health of NCBI. Our fundraising team ran new events during the year and streamlined other activities to produce an increase in income for us.

Heading into 2016, NCBI will be 85 years old and we will be coming to the last year of our strategy. We will be developing a new strategy during the year which will bring us to the iconic date of 2020.

We hope that this strategy will enable us to refocus our efforts on improved and expanded services, reaching out to even more people with sight loss and making a continued positive impact on the lives of our current service users.

Finally, I would like to thank all the staff and volunteers throughout NCBI, who, in a difficult year, have kept the standards, values and ethos of the organisation alive. NCBI is nothing without its people.

Go neireoidh nios fearr linn an bhliain seo chugainn

Chris White

Chairman’s Introduction to Annual Report

I would like to welcome you to the 2015 NCBI Annual Report.

It is my first as Chairman of the NCBI and I would like to thank Kevin O’Boyle, our previous chairman, for the wonderful work he did during his five year tenure. It was a very difficult financial period for NCBI and he guided the organisation with great skill, insight and judgement.

It was my pleasure to join the Board of the NCBI in 2013, having spent a career in the disability sector in St Michael House, of which twenty years were as Chief Executive. I hoped I would be able to bring some of my experience to benefit NCBI and the 224,000 in Ireland who suffer from sight loss. I have chaired the NCBI Finance Committee since 2013.

The last year has seen a number of changes in the organisation. The Board (chaired by Kevin) appointed a working group (Roddy Feely, Anne Troy, David Hickson and Catherine O’Reilly) to review the management structure and make recommendations to improve the organisation and in particular to ensure it has a single organisation approach and appointed me as chairman of this working group. I undertook to meet all the team around the country and become more familiar with the work NCBI do nationally. The recommendations of the committee have been accepted and are in the process of implementation. With the needs of people with sight loss increasing, there is a requirement that NCBI responds to those needs by redefining what it does and how it does it. Being purpose ready is essential for the sustainability of the organisation and as part of that I have set out to continue the improvements around our Governance and our finances.

Listening to our service users is an essential part of that reconfiguration and we have introduced the new post of Director of Policy and Advocacy and expect that this will lead to increased opportunities and higher profile for Service Users, as well as shaping the direction of the organisation going forward.

Finally I would like to thank my fellow board members for the support and trust they have placed in me and I can assure them all that I will work hard to make sure it is not misplaced.

Paul Ledwidge

Paul Mc Brearty, Ballina, Co.Mayo

This is my StoryPaul suffers from Retinal Dystrophy and AlbinismI’ve been in contact with NCBI throughout my life. For me, the NCBI have always been a signpost for things. They tell you about the services that are available to you, but they let you decide if you want to do it.

For me the most important thing NCBI gave me was access to people and technology. I always feel I can pick up the phone and there’ll be someone on the end of the line to listen. They’re always there when you need them.

When I decided to go back to college in in 2009, NCBI came to Sligo IT to show me all the technology I needed. I believe when you are born with a disability you either let it define you, or you define the disability. I always turned things on their head to prove people wrong.

02

NCBI’s Governance

NCBI is fully committed to pursuing good governance and to being open and transparent. Some of the measures we have undertaken include signing up to the Code of Governance for the Voluntary Sector and the Principles of Good Fundraising. Our accounts are consistent with the Charity Statement of Recommended Practice (SORP)

We publish information on all current Board members on our website, including the date of their appointment to the Board and a short biography. We also publish our financial accounts annually and make the report available on our website.

Two sub-committees in the areas of finance and nominations and governance allow for expertise to be provided in these areas. The finance committee monitors and reviews the financial performance of NCBI and provides an independent review of the finances of NCBI, as well as making recommendations to the Board on major financial issues. The nominations and governance committee ensures that the Group and subsidiary Boards have the best mix of skills, knowledge and experience. It is also responsible for effective succession planning and recommendations on the hiring of senior management personnel.

Our Board prioritises good governance and transparency and will continue to strive to ensure that NCBI retains its reputation for strong governance.

Group Board Attendance

There is a graphic on this page with three different coloured symbols to signify the level of attendance for 2015. The meetings were held in January, April, June, September, and November.

Kevin O’Boyle: 100% attendance

David Hickson: 100% attendance

Paul Ledwidge: 80% attendance (did not attend September’s meeting with apologies)

David Keegan: 100% attendance

Dermot Power: 20% attendance (did not attend April’s meeting with apologies. June, September or November meetings were not applicable)

Joanne McCarthy: 80% attendance (did not attend April’s meeting with apologies)

Hugh Maguire: 20% attendance (did not attend April, June September, November with apologies)

Martin Conway: 60% attendance (did not attend January or November meeting with apologies)

Kate T Lawler: 0% attendance (did not attend Januarys meeting with apologies, was not applicable for Kate to attend April, June, September, Novembers meetings as she had resigned from the Board)

Nancy Holland:60% attendance (did not attend January and June with apologies).

Sean Costello: 20% attendance (did not attend January, April, June November with apologies).

Anne Troy: 80% attendance (It was not applicable for Anne to attend January’s meeting)

Catherine O’Reilly: 20% attendance (it was not applicable for Catherine to attend January, April and June’s meetings, she did not attend September’s meeting with apologies).

Roddy Feely: 20% attendance (it was not applicable for Roddy to attend January, April and June’s meetings, he did not attend September’s with apologies).

NCBI Group commit to:

Principle 1Leading our organisation. We do this by:1. Agreeing our vision, purpose and values and making sure that they remain

relevant; 2. Developing, resourcing, monitoring and evaluating a plan to make sure that our

organisation achieves its stated purpose.3. Managing, supporting and holding to account staff, volunteers and all who act on

behalf of the organisation.

Principle 2Exercising control over our organisation. We do this by:1. Identifying and complying with all relevant legal and regulatory requirements;2. Making sure that there are appropriate internal financial and management

controls;3. Identifying major risks for our organisation and deciding ways of managing the

risks.

Principle 3Being transparent and accountable. We do this by:1. Identifying those who have a legitimate interest in the work of our organisation

(stakeholders) and making sure that there is regular and effective communication with them about our organisation;

2. Responding to stakeholders’ questions or views about the work of our organisation and how we run it;.

3. Encouraging and enabling the engagement of those who benefit from our organisation in the planning and decision-making of the organisation.

Principle 4Working effectively. We do this by:1. Making sure that our governing body, individual board members, committees,

staff and volunteers understand their: role, legal duties, and delegated responsibility for decision-making.

2. Making sure that as a board we exercise our collective responsibility through board meetings that are efficient and effective.

3. Making sure that there is suitable board recruitment, development and retirement processes in place.

Principle 5Behaving with integrity. We do this by:1. Being honest, fair and independent;2. Understanding, declaring and managing conflicts of interest and conflicts of

loyalties;3. Protecting and promoting our organisation’s reputation.

We confirm that our organisation is committed to the standards outlined in these principles. We commit to reviewing our organisational practice against the recommended actions for each principle every year.

Paul Ledwidge Chris WhiteChairperson of Board Chief Executive

03

What we do?

NCBI is the leading charity working for the rising number of people affected by sight loss in Ireland. We provide practical and emotional support to help people with sight loss face their futures with confidence. We were founded with an uncompromising vision, to create an Ireland where people who are blind and vision impaired have access to the same rights and opportunities as their sighted peers. There are nearly a quarter of a million people affected by sight loss in Ireland. Our mission is to support and enable this community in overcoming barriers to inclusion and to reach their full potential.

The experiences of people with sight loss are vastly different and NCBI’s approach is not one-size-fits-all. What is common to the broad spectrum of services we provide is our ethos and our purpose. Enabling people to either maintain or regain their independence by providing them with the access to services that they need is at the core of our work. We do this in different ways, depending on each individual’s needs and goals and through a variety of core services, which will be outlined below.

The magic of NCBI comes from our service users; their personal experiences, the barriers they’ve faced and overcome. People affected by sight loss vary in age from birth right through to old age, living in all corners of Ireland, for this reason, our services, fundraising and community activities are spread across the country.

We have regional offices in Dublin, Cork, Limerick, Kerry, Galway, Louth, Donegal and Westmeath with local services offices located nationwide. NCBI also run the second largest chain of charity shops in the country with upward of 80 NCBI shops across Ireland, located on main streets in every county.

Photo of Reggie Abbott, Birr, Co. Offaly

This is my Story

Reggie was born with Congenital Cataracts and later diagnosed with Glaucoma.I suppose I first realised that I needed help with my vision was when I was unable to read my post. I heard about NCBI in an interview on Radio 103 and decided to contact them.

I originally thought that I would have to learn Braille, which worried me. However after my first meeting with NCBI I was reassured that a magnifier would help me. After a few years using my magnifier, my support worker introduced me to CCTV which lets me read the paper and post from my TV screen.

I’m also involved with tandem cycling with the NCBI. They hold 2-3 tandem sessions over the summer. A bus comes to pick me up and drop me home. I really enjoy getting out and cycling, but the most important part of these sorts of activities is being able to meet and socialise with other people with vision impairments.

04

Our Services

In 2015, NCBI provided support and services to 7,665 people with sight loss in Ireland.

The total number of service interactions with community based staff in 2015 was 14,121 which together with NCBI day services, a library and a training centre all form part of the service delivery program.

In 2015 NCBI Services continued to focus on how it can best use staff resources for the benefit of those who require its services. Most commonly, people are referred to NCBI Services by eye care professionals such as Ophthalmologists or Optometrists or they can refer themselves following advice. Working with each individual to clarify what they are having difficulty with and what it is they want to achieve enables management and staff to plan where resources are needed.

By focusing on the initial assessment that is carried out following a referral, staff can determine the needs of the individual and the appropriateness of NCBI’s services.

There are two parts to this process, the first being a telephone assessment, whereby staff try to gather as much information as possible in order to assist both parties in determining the service requirements. This gives the person being referred an opportunity to find out more about NCBI’s services while allowing management and staff to target resources to priority needs and thereby manage caseloads more effectively. The second part of the assessment is a face-to-face assessment which looks at the impact of vision loss on the individual’s quality of life and explores solutions.

In 2015 NCBI Services conducted 3,671 assessments with individuals, the majority of whom were being seen for the first time, although assessments may be repeated at any stage as circumstances change and new needs are identified. This process is proving to be efficient, cost effective and follows best practice.

The increase in the number of older people living with sight loss is evident in the age profile of those availing of services, the majority of whom are over the age of 65. In fact, people over the age of 76 represent just over half of those with whom NCBI Services is working. However, an emerging trend in recent years has been an increase in referrals of complex cases, such as people with sight loss as a result of acquired brain injury, stroke and children with sight loss who also have other disabilities or neurological conditions.

Insert: NCBI Friendship Garden

On the 9th of September 2015, the Rehabilitation Training Centre officially opened their Friendship garden. This project was spearheaded by our ICT and horticulture tutor Sharon Lyons, with assistance from Marguerite Douglas.

The garden is a true work of beauty. Former Group CEO and friend of the centre Des Kenny was on hand to perform the launch and talked about his own love of gardening and growing his own vegetables.

The garden is located at the side of the Training Centre in Dublin and is maintained by the students.

2015 Highlights

Low Vision TrainingFrontline staff had the opportunity to partake in a two day Low Vision Training Workshop in October 2015. This training came about following a staff training needs analysis.

The training looked at assessment and intervention strategies for central and peripheral vision loss. Two of the areas focused on in relation to central vision loss were Eccentric Viewing and Steady Eye Strategy. Eccentric Viewing is a method whereby the person looks slightly away from centre in order to use a better part of functioning vision. Not everyone with central vision loss will need to use eccentric viewing, it depends on the extent and location of damage to the macula. Steady Eye Strategy is a technique specifically for reading. It requires the person to keep their gaze steady and scroll text right to left through their best part of functioning vision. Literature shows that eccentric viewing & steady eye strategy can improve reading speed & performance of activities of daily living in people with central vision loss

Staff reported that the workshops increased their competency in assessing the functional impact of central & peripheral loss and in planning intervention strategies.

Stroke and Vision LossWe were invited again this year to take part in the Irish Heart Foundation Stroke Survivors Conference & Irish Heart Foundation Stroke Study Day. These are valuable platforms to be involved in as both conferences have very different target audiences. This provided us with an opportunity to increase awareness on the impact of vision loss after stroke to both potential service users and the professional network working in this area.

Generally an individual’s visual acuity isn’t affected following a stroke and consequently the usual low vision solutions aren’t an effective response. Research outcomes on scanning training for stroke related visual field loss are indicating positive results for service users. From our experience we would concur with these findings, particularly when vision loss is the primary disability following stroke. A major part of work with this group is increasing an individual’s insight into the nature

of their vision loss and following from that, developing scanning strategies to enable the person to compensate for their loss of vision.

On this page there is an infographic displaying the number of referrals in 2015.

Overall there were 1674 referrals in 2015.

3671 is the number of assessments conducted.

2395 is the number of advice and information services accessed by individuals.

748 is the number of low vision services.

1146 is the number of emotional support and counselling services accessed.

2525 is the number of assistive technology services accessed by individuals.

1673 is the number of independent living and mobility training sessions.

Information sharing sessions on assessment and intervention strategies were held with workers in various NCBI regions during the year and further sessions are planned for 2016.

NCBI Services

Advice and InformationOur nationwide networks of local support workers provide a range of practical and emotional services to people with sight loss. When a person is diagnosed with a particular eye condition they may have lots of questions. We provide advice and information, which ranges from informing people about their eye condition and how it will affect their lives, to letting them know what support and services they can expect from NCBI and other organisations. The impact of sight loss is explored at both a practical and emotional level. Practical advice and information may also focus on their use of both technology and adaptive specialist equipment, which will assist them in regaining or maintaining as much independence as possible. Advice and information services were accessed by 2,395 individuals in 2015.

Low Vision Service

Maximising the use of remaining vision is the most important function of a low vision service where the vast majority of people who attend list reading as their main issue. A significant reduction in sight can make it difficult to continue reading and writing. This service assists people who experience these difficulties even when they are wearing their prescription glasses or lenses. An assessment of functional vision is carried out to identify the areas where assistance is most required and what are the most appropriate solutions. NCBI staff will look at all aspects of each task, including the optimum sitting position, appropriate lighting and magnification aid. NCBI Services staff worked with 748 individuals in 2015, providing advice and practical solutions to low vision.

Stephen Duffy, Palmerstown, Dublin.

This is my Story

Stephen suffers from Double Diabetic RetinopathyWhen you lose your sight, you lose your normal life, and that’s what the NCBI gave me back.

I’ve always loved to learn. I am now back in education, nearing the end of my Bachelor of Arts Degree in Media Production in Ballyfermot, and I hope to go on and get my Masters after that.

I also have a radio slot, Sports Club, every Saturday on Liffey Sound 96.4FM. I would never have been able to do all of this if NCBI had not come on board and supported me.

I honestly don’t know where I would be if it wasn’t for the NCBI, they don’t get enough credit for the great work they do. The NCBI saved my life.

Emotional Support and Counselling ServicesDealing with the psychological impact of sight loss forms an integral part of the support services provided by NCBI. Demand for emotional support and counselling remains high with 1,146 individuals availing of this service in 2015. It is sometimes necessary to explore the psychological impact with the individual before they consider availing of other services. Emotional support can be a one-off conversation or it can be more long-term, depending on the level of need, complexity of circumstances, or if a person’s situation changes. NCBI offers support to our service users and their families in the form of face to face counselling and telephone counselling.

Assistive Technology ServiceThe assistive technology service is multi-faceted, involving both high and low tech solutions to particular difficulties people experience because of sight loss. A total of 2,525 people accessed this service in 2015, with interventions ranging from advising on the use of mobile phone technology for personal communication to learning to use the latest mobile and online technologies for employment and education.

Rehabilitation Training

Rehabilitation is the process of teaching the required adaptive or compensatory independent living skills enabling people to perform a wide range of activities. The activities that form part of rehabilitation training are independent living skills, orientation and mobility skills. In 2015, NCBI Services staff developed and implemented training programmes in both of these areas as an individualised solution for 1,673 individuals. Training in both of these areas can involve maximising the use of remaining vision where possible and/or the learning of alternative strategies to compensate for the loss of vision.

National Rehabilitation Training CentreLearning For Life is the name of the Rehabilitative Training Programme, which is run from our dedicated training centre based on the Head Office campus in Dublin. This course, which is accredited by QQI currently, sits at level 1 on the National Framework of Qualifications (NFQ). In 2015, a total of 14 learners received certification across 8 different modules, with a combined submission of 31 portfolios. However, not everyone who attends the centre is interested in certification, and in total in 2015 the Training Centre worked with 28 service users.

A certification is crucially important for the programme, the centre was delighted to have been given a seat on QQI’s Community and Voluntary Sector working group, which was formed in March. The purpose of this group was to allow the C&V sector to better inform QQI as to the challenges for providers of specialised education and training like NCBI.

A very successful team-building day was run for Mars Ireland in March 2015 and the Training Centre is hoping to build on the success of this event by offering future such days to other corporates in collaboration with our fundraising team. The centre also launched its sensory garden in September, thanks to funding made available from the Community Growers Fund of Ireland. Links with other organisations in the area, including the National League of the Blind, Vision Sports Ireland and ChildVision continued to develop throughout the year.

In 2016 the process of re-engagement and quality assurance of our training programme with QQI will commence, as well as developing level 2 of Learning For Life, ultimately giving even more choice to the students who attend the centre.

Library and Media CentreNCBI Library and Media Centre continued to provide its range of services to clients and organisations. Services to clients included: audio downloadable, CD, DAISY and cassette talking book services, audio magazines as well as Braille and Large print books. In 2015, the number of registered clients of the Library service exceeded 4000.

The wide range of organisations that the Centre worked with in 2015 included: Public bodies, private companies, semi-state organisations and other charities. The Library and Media Centre produced accessible material in Braille and audio, as well as provided clear print consultancy services.

One of the highlights of 2015 was the production of Frank O’Connor’s Selected Short Stories under a new corporate social responsibility initiative. 30 short stories written by Frank O’Connor were recorded by 30 New Ireland Assurance staff members at the NCBI studios. The audio recordings and Braille copies of this production were then made available for lending with the NCBI Library Service.

Across two pages there is an infographic displaying the type of work carried out by NCBI in 2015 and a breakdown of the age of service users.

Age Number of Referrals

0-6 70

7-17 54

18-65 330

66-75 247

75+ 964

Highlights in Services:

There were 306 family therapy sessions.

There were 9 Learning For Life graduates.

There are 4173 registered library members.

732 counselling calls took place.

There were 50,680 website visits.

There were 39,000 online shop sales.

05

NCBI Fundraising

NCBI must raise €3 million annually just to keep operating at the current levels. That is without taking into account the need to grow to meet increasing demands and to develop innovative services. This is a huge task, which is strived to achieve through the NCBI Charitable Foundation. The Charitable Foundation focuses on generating income through fundraising initiatives and events and through our network of charity shops around the country.

The charitable sector has undergone extremely challenging times of late and it is a constant battle to raise sufficient funds with which to supplement our income. To this end, we have concentrated on a strategy which will gradually increase fundraising to a much stronger level than at previous times.

The development of a corporate engagement programme began in 2014 and continued into 2015. We have appointed a Corporate Engagement Executive, who has been a service user and advocate for people who are blind and vision impaired. This work, so far has concentrated on gaining sponsorship from corporates to facilitate key events, such as the Tesco – Make a Dark Day Brighter Bag Pack, The Tree of Light in Dublin Airport, and non-statutory grant and funding applications. These streams of income are seen as a key for future of the organisation.

The NCBI has traditionally and in some ways continues to rely on ad-hoc donations, legacies etc. While this income is very useful and desirable, it is not a guaranteed or regular income stream and therefore cannot be budgeted for.

NCBI are developing methods to increase committed giving on a monthly basis by introducing corporate payroll giving and placing Direct Debit forms in all new user information packs and NCBI’s quarterly newsletter.

Over the years the NCBI has been heavily reliant on the good will and charitable activities of local fundraising branches or chapters. In recent years these branches have reduced considerably. In 2015 a decision was made to reinforce branch activity and rebrand it as ‘Friends of NCBI’. This is modelled on the basis of full transparency and accountability and a reduced executive, where no more than two officers may sit on any committee. This makes the committee a very simple structure with all funds, save for operating costs, returned to Head Office. Redevelopment would also include working hand in glove with local shops and service offices if co-located, to provide a much more team lead approach and capitalising on all of our good will in all areas.

Insert: NCBI Retail Opens on Cork North Main Street

In May 2015, Deputy Mayor of Cork City, Cllr Ken O’Flynn and Munster Rugby’s Denis Hurley, opened NCBI’s charity shop in Cork’s North Main Street. The shop offers quality second hand clothes, books and other items. The Cork North Main Street shop is managed by Teresa O’Brien, with the support of a core team of volunteers.

NCBI RetailThe network of NCBI Retail Stores is a very valuable resource when it comes to having an active hub for information on services, outlet for volunteer activity and fundraising.

NCBI Retail sells second hand clothing, bric a brac, toys, books and selected shops have commenced selling some low vision aids, this is progressing well and is a reminder to the public and service users alike of the link between NCBI Retail and Services.

In 2015 the number of shops increased to over 70 and continues to grow NCBI’s presence in towns and cities across Ireland. Such a strategy will ensure that the organisation is visible to the public, raise vital funds, and importantly become an information point for the public and service users.

NCBI retail shops have significantly increased their fundraising in local areas in the recent past – fundraising activities of this nature have contributed overall to in the region of €150,000 in 2015.

Anne Smyth, Tullamore, Co. Offaly

This is my Story

Anne suffers from Chorio – RetinitisI’ve always worn glasses, but in 2013 I noticed that my sight was deteriorating. It took a while to diagnose what was wrong with me but eventually they found out that it was Lymphoma. I’ve had chemo and radiation and thankfully I am doing better, but my sight has not returned.

My public health nurse first directed me towards the NCBI. At first I had no interest, I didn’t feel I was able, but as time went on I realised the support they could give me.

The NCBI are helping me to learn how to use a long cane. When I first lost my sight I was tripping in the house, but the cane helps me. I want to be able to get out and about again. I like to walk and hopefully the cane will enable me to get back to my hobby once again.

I am also going to the NCBI centre in Athlone, where I am taking computer classes and learning how to use some of the software. My son Donal comes with me to the classes.

Our PeopleNCBI’s prominence today as a major service provider to vision impaired people is made possible by the partnership between staff and supporting volunteers. NCBI’S services are delivered by skilled and experienced professionals and when service users talk about NCBI, it is usually an individual staff member who represents NCBI for them. There are 260 paid staff and 900 volunteers in the whole organisation.

As a charity, NCBI rely on volunteers to give their time in various ways. Over 75% of those who are involved with the NCBI are volunteers.

Volunteers continue to play an important role in NCBI’s work. Their involvement enhances NCBI’s work, allows the organisation to deliver a broader range of services, raises its profile and extends our network of active collaboration within local communities.

People volunteer their time with in a number of ways. Some will volunteer to provide companionship and assistance to Service Users, other will volunteer their time to help out at or organise fundraising events. There are also many people who are making a difference in their own communities and volunteering in the many NCBI Retail Shops around the country.

Insert: NCBI Home Opening

In September, Lord Mayor of Dublin, Críona Ní Dhálaigh officially opened our new NCBI Home, a new charity furniture shop run by the national sight loss organisation. NCBI Home is a second hand furniture shop located on Francis Street in Dublin’s Antique Quarter.

The Lord Mayor, Críona Ní Dhálaigh wished the charity well and urged people to support this great initiative. “Charity shops are a very welcome addition to every shopping street”.

There is an Infographic here which is a map of Ireland displaying number of shops in each county.

Carlow: 1Cavan: 2Clare: 1Cork: 5Donegal: 0Dublin: 16Galway: 7Kerry: 3Kildare: 7Kilkenny: 1

Laois: 1Leitrim: 1Limerick: 2Longford: 1Louth: 0Mayo: 3Meath: 2Monaghan: 0Offaly: 3Roscommon: 2Sligo: 1Tipperary: 8Waterford: 1Westmeath: 2Wexford: 5Wicklow: 3

Leinster: 41, Ulster: 2, Connacht: 14, Munster: 18.

Total: 75

DRAFT FINANCIAL STATEMENTS 28 April 2016 15:57:18 DATASET 31 December 2015

Registration number 26293

NCBI (NATIONAL COUNCIL FOR THE BLIND) GROUP

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CONTENTS

Page

Directors and other information 2

Directors' report 3 - 7

Statement of directors' responsibilities 8

Independent Auditors' report 9 - 10

Consolidated Statement of Financial Activities 11

Consolidated Balance sheet 12

Balance sheet 13

Cash flow statement 14

Notes to the financial statements 15 - 35including Statement of Accounting Policies

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

DIRECTORS AND OTHER INFORMATION

Finance NominationsCommittee Committee

Directors Kevin O'Boyle (Chairman) x xSenator Martin ConwaySean CostelloRoderik Feely (Appointed 17/09/2015)David Hickson xNancy Holland xDavid Keegan xPaul Ledwidge xJoanne McCarthy xCatherine O'Reilly (Appointed 17/09/2015)Dermot Power (Resigned 20/05/2015)Hugh Maguire (Deceased)Anne Troy (Appointed 20/05/2015)

Secretary Desmond Kenny (Resigned 22/09/2015)Corplaw Limited (Appointed 23/09/2015)

Company number 26293

Registered office Whitworth Road,Drumcondra,Dublin 9.

Auditors KSi Faulkner Orr LimitedRegistered AuditorsGateway House,133 Capel StreetDublin 1.

Bankers Ulster Bank,College Green,Dublin 2.

Solicitors O'Connell Brennan,Armitage House,10 Lower Hatch Street,Dublin 2.

Charity number CHY 20902

The Board of Directors presents its annual report and the audited financial statements of the company and the group for the year ended 31 December 2015.

Organisational StructureThe NCBI group of companies, hereafter called NCBI, includes the holding company NCBI Group, hereafter referred to as the company, and three subsidiary companies - NCBI Services (Registered Charity 4626), NCBI Retail (Registered Charity 20619) and NCBI Charitable Foundation (Registered Charity CHY 12673).The NCBI Group Board, hereafter referred to as the Board, currently meets at least six times annually and retains overall responsibility for the strategic direction of the companies. The day-to-day running of the company is overseen by a senior management team, which is headed by the Chief Executive and supported by other senior staff.

Internal Control and Risk ManagementThe Board has overall responsibility for the systems of risk management and internal control for NCBI. Their oversight aims to safeguard the assets of NCBI, to maintain the financial and operational integrity of the company and its subsidiaries and to ensure that the NCBI operates in a transparent manner in accordance with best practice and good governance. The diverse composition of the Board, with members from a wide variety of business backgrounds and sectors, is intended to provide the company with a broad range of views and expertise. A Governance Manual, approved by the Board in October 2013, clearly sets out the duties and responsibilities of the directors.The Board considers the management of risk in the company as a key part of adhering to good corporate governance and ensuring that all risks are managed and mitigated appropriately. Financial risks include the management of limited resources in a climate of increasing demand on those resources, while operational risks revolve around maintaining the provision of a quality service against this background of shrinking resources. Risk management recommendations currently being implemented by the senior management team, under the oversight of the Finance Committee.The company prepares an annual budget, which is reviewed and approved by the Board. The Board and management are provided with regular updates which compare actual against budgeted results.In July 2013 the company and its subsidiary companies adopted the Statement of Guiding Principles for Fundraising, developed by Irish Charities Tax Research Limited to ensure that the company and its subsidiaries comply with best practice in fundraising.In September 2013 the company and its subsidiaries adopted The Governance Code - A Code of Practice for Good Governance of Community, Voluntary and Charitable Organisations in Ireland. While adoption is voluntary, the Board wishes the company and subsidiary companies to adhere to the highest standards of corporate governance and is committed to reviewing regularly to ensure that NCBI is still compliant.The Board met 6 times in 2015 (seven in 2014).

Principal activities and review of the businessThe Company is a registered charity and the accounts are presented in a form which complies with the requirements of the Companies Act 2014 and, although not currently obliged to comply with the Statement of Recommended Practice (SORP) as issued by the Charity Commissioners for England and Wales FRS 102 effective Jan 1st 2015. The Group has implemented many of it's recommendations in these accounts.

The activities of the Company and Group are primarily charitable.

The directors are satisfied that the results for the year are consistent with expected levels.

Board CommitteesThe Board has set out formal terms of reference for sub committees to provide specific expertise within certain areas of NCBI. These committees are as follows:The Finance CommitteeThe Finance Committee was established in 2013 to monitor and review the financial performance of NCBI, to provide an independent review of the finances of NCBI and to make recommendations to the Board on major financial issues. It met 5 times in 2015. It is responsible for overseeing the general risk management of NCBI.The Nominations CommitteeThe Nominations Committee was established in 2012 to ensure that the company and subsidiary Boards have the best mix of skills, knowledge and experience. It is also responsible for effective succession planning and recommendations on the hiring of senior management personnel. The committee met three times in 2015.

2015 Review of operations2015 was for NCBI another year dominated by funding issues and the additional pressures put on the delivery of services by these funding issues.Overall income increased to €15.25 million from €13.56 million (€1.69 million). Statutory income from the Health Service Executive (HSE) fell for the seventh year in a row. The Board remains committed to increasing income by developing new income streams within both NCBI Retail and NCBI Charitable Foundation. Trading income increased by €300k, matched by increased costs leaving the bottom line performance unchanged.Overall expenditure increased from €13.86 million to €15.32 million during 2015. The company implemented a significant cost containment program during 2015 in order to realign cost base. The company incurred a one off cost of €440k in relation to redundancy costs associated with the cost containment. NCBI remains committed to reducing costs where possible while maintaining the existing high quality of services.NCBI continued to engage with its primary statutory partner the HSE through the annual Service Level Agreement process and currently provides significant co-funding for day-to-day operations in the majority of the Local Health Office Areas. NCBI's staff agreed to work an additional two hours per week, in accordance with the Haddington Road agreement. This additional working time equates to over 10,000 additional hours per annum which will help reduce the impact of funding cuts and pressures on services. Changes in work practices to improve operational efficiencies and reduce costs continue.The directors remain aware of the significant financial and operational challenges facing NCBI and approved a budget for 2016 to reduce reliance within the company and its subsidiaries on volatile income sources such as legacies and, to a lesser extent, retail sales. The Board of NCBI Services framed their new three year strategic plan within this challenging financial environment.2016 will be another difficult year for NCBI. The general economic outlook remains challenging. The negative knock-on effect on people's donations to charities and their indirect support of charities through the donation of clothing and other items to charity shops remains a concern. Public concern about governance and transparency within a small group of charities has had a noticeable negative impact on the sector as a whole and is having a longer lasting impact with serious long term implications.

NCBI Services - Review of Operations In 2015 NCBI Services continued its review of how it works, which focused on how it can best use staff resources for the benefit of those who require its services. Most commonly, people are referred to NCBI Services by their ophthalmologist or optometrist. But they may not be sure what it is that NCBI Services can help them with, or indeed have had an opportunity to consider how their sight loss is affecting them and their families, if their diagnosis is recent. Working with each individual to clarify what they are having difficulty with and what it is they want to achieve enables management and staff to plan where resources are needed. Some people will require minimal intervention in the beginning and perhaps return when their vision deteriorates further or there is another change in their circumstances, while others may require more intensive and ongoing interventions, usually requiring the input of more than one department within NCBI Services.

By focusing on the initial assessment that is carried out following a referral, staff can determine the needs of the individual and the appropriateness of NCBI's services. There are two parts to this process, the first being a telephone assessment, whereby staff try to gather as much information as possible in order to assist both parties in determining the service requirements. It gives the person being referred an opportunity to find out more about NCBI's services while allowing management and staff to target resources to priority needs and thereby manage caseloads more effectively. The second part of the assessment is a face-to-face assessment which looks at the impact of vision loss on the individual's quality of life and explores solutions.In 2015 NCBI Services conducted 3,671 assessments with individuals, the majority of whom were being seen for the first time, although assessments may be repeated at any stage as circumstances change and new needs are identified. This process is proving to be efficient and cost-effective and follows best practice, as well as satisfying funders and donors that NCBI Services is focused on offering a service that represents value for money.The increase in the number of older people living with sight loss is evident in the age profile of those availing of services, the majority of whom are over the age of 65. In fact, people over the age of 76 represent just over half of those NCBI Services is working with. However, an emerging trend in recent years has been an increase in referrals of complex cases, such as people with sight loss as a result of acquired brain injury, stroke and children with sight loss who also have other disabilities or neurological conditions.

NCBI Charitable Foundation - Review of OperationsNCBI Charitable Foundation, hereafter the Foundation, manages and directs the fundraising activities of NCBI, and together with NCBI Retail, will seek donations and financial support from the general public in order to fund NCBI Services. It is a company limited by guarantee, and is also a registered charity.A surplus of €1,112,501 was generated during 2015.The fundraising environment for the Foundation, in common with many charities, during 2015 was extremely challenging. However, the vision of NCBI and the services provided by NCBI Services, continues to receive a tremendous level of support from those who take part in events, raise money or donate to the Foundation.

It is essential to develop innovative fundraising campaigns in difficult economic times. In December the Foundation launched its Make a Dark Day Brighter campaign. The main element to the campaign, the first being the Tree of Light, which saw NCBI Christmas trees take pride of place in Dublin Airport. An exciting development in the Make a Dark Day Brighter campaign was the sale of scented candles. These were on sale in NCBI charity shops and a number of other retail outlets around the country. The candles made attractive gifts for the Christmas season and helped to bring home the message of sight loss by focusing on other senses.In 2015, the Foundation commenced the use of a text to donate number, providing clear calls to action for events and in advertising campaigns. These new initiatives were run alongside annual events, which include cycles, two long-established golf competitions and the annual car draw, to name a few.The Board of the Foundation would like to thank its supporters and look forward to their continuing assistance and work on behalf of NCBI Charitable Foundation.

NCBI Retail - Review of OperationsNCBI Retail operates a network of 74 charity shops in the Republic of Ireland. It is a company limited by guarantee, and is also a registered charity. The net surplus generated by NCBI Retail is used to support the activities of NCBI Services.The rebranding of the charity shops from Mrs Quin's to NCBI Retail, which began in 2012, was successfully concluded in early 2013. This rebrand creates a clear link between the work of NCBI Services and the funds raised through the shop network. It creates visibility for the NCBI brand in towns right across Ireland and enhances the awareness of the activities of NCBI.The success achieved by the charity shops in 2014 would not have been possible without the dedication of the 800 volunteers, who worked alongside shop staff and managers during the year, providing an average of seven hours per week each in support of NCBI Retail. This substantial voluntary contribution equates to the work of 130 full time staff.A surplus of €332,324 was generated in 2015. Making significant contributions to the bottom line was the achievement of rent reductions and moving from unsuitable locations to larger and better appointed premises. The reach of the network was expanded by the opening of six new shops during the year.

One of the challenges for NCBI Retail has been the scarcity of high quality donated items for resale. An advertising campaign was embarked upon to help build awareness of the brand and to help in the provision of items for resale. Stock not deemed suitable for resale is recycled or sold by weight and in 2015 NCBI Retail built on good working relationships with recycling partners to further develop income from these activities.

Principal risks and uncertaintiesThe directors consider that the following are the principal risk factors that could materially and adversely affect the company's future operating results or financial position:- Fluctuating income from NCBI Retail- Further unanticipated cuts or the withdrawal of support from the HSE- Overdependence on unpredictable legacy incomeThe company has business policies and organisational structures to limit some of these risks and the Board of Directors and Management regularly review, reassess and proactively limit the associated risks insofar as possible.

Reserve PolicyNCBI's Total Reserves (represented by Restricted and Unrestricted Funds) are assets ( principally tangible fixed assets and cash ) held by the NCBI Group. Reserves for the purposes of this policy describe that part of charities funds that are freely available.The directors have considered various factors involved in assessing level of required reserves and analysed the available assets.The Directors are of the view that freely available reserves need to be at a level of €2.2m.Reserves is represented by cash and investments standing at €1.67m as of 31st December 2015. The Directors intend to close this gap of €530k during the 3 year period 2016 and 2018.

Directors of the CompanyThe present membership of the board is listed on the 'Directors and other information' page. The directors and secretary who served during the year have no financial interest in the company.

Accounting recordsThe measures taken by the directors to ensure compliance with the requirements of Section 281 to 285 of the Companies Act 2014, regarding adequate accounting records are the implementation of necessary policies and procedures for recording transactions, the employment of competent accounting personnel with appropriate expertise and the provision of adequate resources to the finance function. The accounting records of the company are maintained at the Registered Office at Whitworth Road, Drumcondra, Dublin 9.

AuditorsThe auditors, KSi Faulkner Orr Limited, having been appointed during the year have indicated their willingness to continue in office in accordance with the provisions of Section 383(2) of the Companies Act 2014.

This report was approved by the Board on ___________________ and signed on its behalf by

___________________Kevin O'BoyleDirector

___________________Paul LedwidgeDirector

STATEMENT OF DIRECTORS RESPONSIBILITIES FOR THEMEMBERS' FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

The directors are responsible for preparing the Director's Report and financial statements in accordance with applicable Irish law and Generally Accepted Accounting Practice in Ireland including the accounting standards issued by the Financial Reporting Council and promulgated by the Institute of Chartered Accountants in Ireland.

Irish company law requires the directors to prepare financial statements for each financial year. Under the law, the directors have elected to prepare the financial statements in accordance with Irish Generally Accepted Accounting Practice in Ireland. Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the assets, liabilities and financial position of the company as at the financial year end date and of the surplus or deficit of the company for that financial year and otherwise comply with the Companies Act 2014.

In preparing those financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and estimates that are reasonable and prudent;

- state whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for ensuring that the company keeps or causes to be kept adequate accounting records which correctly explain and record the transactions of the company, enable at any time the assets, liabilities, financial position and profit and loss of the company to be determined with reasonable accuracy, enable them to ensure that the financial statements and the Directors' Report comply with the Companies Act 2014 and enable the financial statements to be audited. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board

_____________________________ _____________________________Kevin O'Boyle Paul LedwidgeDirector Director

Date: ____________

We have audited the financial statements of NCBI (National Council For The Blind) Group for the year ended 31 December 2015 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Company Balance Sheet, the Consolidated Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is the Companies Act 2014 and accounting standards issued by the Financial Reporting Council and promulgated by the Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Ireland).This report is made solely to the company's members, as a body, in accordance with Section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company's members those 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 responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditorsAs explained more fully in the Directors' Responsibilities Statement set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and otherwise comply with the Companies Act 2014. Our responsibility is to audit and express an opinion on the financial statements in accordance with Irish law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of the audit of the financial statementsAn audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Directors' Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statementsIn our opinion the financial statements: - give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland of the state of the company’s affairs as at 31 December 2015 and of its deficit for the year then ended; and - have been properly prepared in accordance with the requirements of the Companies Act 2014.

Matters on which we are required to report by the Companies Act 2014- we have obtained all the information and explanations which we consider necessary for the purposes of our audit;- in our opinion the accounting records of the company were sufficient to permit the financial statements to be readily and properly audited;- the financial statements are in agreement with the accounting records;- in our opinion the information given in the Directors' Report is consistent with the financial statements.

Matters on which we are required to report by exceptionWe have nothing to report in respect of the provisions in the Companies Act 2014 which require us to report to you if, in our opinion, the disclosures of directors’ remuneration and transactions specified by section 305 to 312 of the Act are not made.

KSi Faulkner Orr Limited,_________________________ Gateway House,John G. Kelly 133 Capel Streetfor and on behalf of KSi Faulkner Orr Limited. Dublin 1.

Date: ________________

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2015

Continuing operations2015 2014

Unrestricted Restricted Funds FundsFunds Funds Total Total

Notes € € € €Incoming ResourcesIncoming Resources from Generating Funds - Voluntary Income 8 1,357,950 3,373 1,361,323 1,037,505 - Income from trading activities 9 4,806,012 - 4,806,012 4,507,821Incoming resources from charitable activities 10 863,886 6,955,976 7,819,862 7,931,638Co-Funding by NCBI Group 26 379,333 599,945 979,278 -Investment income 11 282,493 - 282,493 86,803

_______ _______ _______ _______Total Incoming Resources 7,689,674 7,559,294 15,248,968 13,563,767

_______ _______ _______ _______Resourced ExpendedCost of Generating Funds - cost of generating voluntary income 12 477,792 - 477,792 419,022 - cost of trading activities 9 4,484,188 - 4,484,188 4,130,029Charitable activities 13 1,922,818 7,359,091 9,281,909 9,226,427Co-Funding by NCBI Group 26 379,333 599,945 979,278 -Governance costs 7 91,884 - 91,884 84,758

_______ _______ _______ _______Total Resources Expended 7,356,015 7,959,036 15,315,051 13,860,236

_______ _______ _______ _______

Net Incoming/(outgoing) resources before exceptional items 333,659 (399,742) (66,083) (296,469)

Net loss on impairment of properties 23 (979) - (979) -_______ _______ _______ _______

Net incoming/(outgoing) resources 332,680 (399,742) (67,062) (296,469)

Total funds brought forward 25 2,196,471 1,218,568 3,415,039 3,711,505_______ _______ _______ _______

Total funds carried forward 25 2,529,151 818,826 3,347,977 3,415,036_______ _______ _______ _______

There are no recognised gains or losses other than the surplus or deficit for the above two financial years.

On behalf of the board

____________________________ ____________________________Kevin O'Boyle Paul LedwidgeDirector Director

Date: ___________________

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2015

ConsolidatedNotes 2015 2014

€ €Fixed assetsTangible assets 14 4,654,605 5,540,539Financial assets 16 345,935 302,098

_______ _______5,000,540 5,842,637

Current assetsStocks 18 223,203 252,051Debtors 19 631,954 559,110Cash at bank and in hand 1,323,715 2,436,381

_______ _______2,178,872 3,247,542

Creditors: amounts fallingdue within one year 20 (918,999) (1,302,130)

Net current assets 1,259,873 1,945,412_______ _______

Total assets less currentliabilities 6,260,413 7,788,049

Creditors: amounts fallingdue after more than one yearLong term liabilities 21 (931,813) (364,556)Capital Grants 22 (1,980,623) (4,008,454)

_______ _______Net Assets 3,347,977 3,415,039

_______ _______The funds of the charity:Accumulated Surplus/(Deficit) b/f 25 3,415,039 3,711,505Statement of Financial Activities 25 (67,062) (296,466)

_______ _______Total charity funds 25 3,347,977 3,415,039

_______ _______

The financial statements were approved by the Board on ___________________ and signed on its behalf by

___________________ ___________________Kevin O'Boyle Paul LedwidgeDirector Director

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2015

2015 2014Notes € € € €

Fixed assetsTangible assets 14 4,316,844 5,277,467Financial assets 16 231,468 202,113

_______ _______4,548,312 5,479,580

Current assetsDebtors 19 3,391,466 12,274,223Cash at bank and in hand 78,907 188,665

_______ _______3,470,373 12,462,888

Creditors: amounts fallingdue within one year 20 (3,147,187) (14,306,677)

_______ _______Net current assets/(liabilities) 323,186 (1,843,789)

_______ _______Total assets less currentliabilities 4,871,498 3,635,791Creditors: amounts falling dueafter more than one year 21 (931,813) (364,556)Accruals and deferred income 22 (1,980,623) (4,008,454)

_______ _______

Net assets/(liabilities) 1,959,062 (737,219)_______ _______

The funds of the charityRestricted funds 25 4,265 (287,324)Unrestricted funds 25 1,954,797 (449,895)

_______ _______Total charity funds 25 1,959,062 (737,219)

_______ _______

The financial statements were approved by the board on ____________ and signed on its behalf by

_____________________________ _____________________________Kevin O'Boyle Paul LedwidgeDirector Director

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2015

2015 2014Notes € €

Reconciliation of operating (deficit) to netcash outflow from operating activitiesOperating (deficit)/surplus (67,062) 572,172Depreciation 493,258 397,515(Increase) in stocks 28,848 54,976Decrease in debtors (72,844) (779,798)(Decrease) in creditors (95,076) (96,980)Government grant released (196,823) (178,585)

_______ _______Net cash outflow from operating activities 90,301 (30,700)

_______ _______

Cash flow statement

Net cash outflow from operating activities 90,301 (30,700)Returns on investments and servicing of finance 28 (43,837) (74,680)Capital expenditure 28 (1,438,329) (326,480)

_______ _______(1,391,865) (431,860)

Financing 28 610,604 -_______ _______

Decrease in cash in the year (781,261) (431,860)_______ _______

Reconciliation of net cash flow to movement in net funds (Note 29)

Decrease in cash in the year (781,261) (431,860)Cash outflow from decrease in debts and lease financing (610,604) -

_______ _______Change in net funds resulting from cash flows (1,391,865) (431,860)

Net funds at 1 January 2015 1,694,225 2,126,085_______ _______

Net funds at 31 December 2015 302,360 1,694,225_______ _______

1. Statement of accounting policiesThe principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.This is the first set of financial statements prepared by KSi Faulkner Orr Ltd in accordance with accounting standards issued by the Financial Reporting Council, including the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"). The company transitioned from previously extant Irish and UK GAAP to FRS 102 as at 1 January 2014. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 2.

1.1. Basis of preparationThe audited financial statements have been prepared in accordance with accounting standards generally accepted in Ireland and Irish statute comprising the Companies Act 2014. Accounting Standards generally accepted in Ireland in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in Ireland and issued by the Financial Reporting Council. The financial statements have been prepared under the historical cost convention. The company has also implemented many of the recommendations of the Statement of Recommended Practice (SORP) issued by the Charity Commissioners for England and Wales in October 2005.

1.2. Going concernThe directors have prepared these financial statements on the going concern basis which assumes that the organisation will continue in operational existence for the foreseeable future and will have adequate funds to meet their obligations as they fall due.

1.3. Group accountsThe financial statements consolidate the financial statements of NCBI (National Council for the Blind) Group and its subsidiary undertakings made up to 31 December 2015. The subsidiary companies comprise NCBI Charitable Foundation, NCBI Retail and NCBI Services. The results of the subsidiary undertakings in the year are included in the consolidated Statement of Financial Activities.

1.4. Income PoliciesIncoming resources from Generating FundsVoluntary income is derived from donations, fundraising events, branch income and legacy income. Voluntary income is recognised on a cash receipts basis and is unrestricted in all cases except legacy income where it can be restricted by the donor.Income from trading activities is income received in respect of the charity shops in NCBI Retail and is recorded on a receipts basis in the year the income is received.

Incoming resources from Charitable ActivitiesStatutory income relates to grant income receivable from the Health Service Executive. This income is restricted and is credited to income in the year to which it relates.Income from other sources relates to library and audio visual services, sales of low vision goods and appliances and income from EU agencies. This can be restricted or unrestricted and is credited to income in the year to which it relates.

Investment incomeInvestment income is derived from deposit interest and dividend income. Deposit interest is accounted for on an accruals basis and dividend income is accounted for on a receipts basis. This income is unrestricted.

1.5. Tangible assets and depreciationTangible assets are stated at cost less accumulated depreciation and accumulated impairment loss. Cost includes all costs that are directly attributable to bringing the asset into working condition for its intended use.

DepreciationDepreciation is provided on all tangible assets, at rates calculated to write off the cost or valuation,

less estimated residual value, of each asset systematically over its expected useful life, as follows:

Freehold / 999 - year lease premises - 2% Straight lineLeasehold (under 35 year) premises refurbishment - 10% Straight lineFurniture and fittings - 15% - 25% Straight lineMotor vehicles - 15% Straight line

1.6. Financial assetsFixed asset investments are stated at cost less provision for permanent diminution in value. Investments are reviewed for diminution in value if events or changes in circumstances indicate that the carrying amount may not be recoverable. Diminution in value is calculated such that carrying value of the fixed asset investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net realisable value and its value in use.

1.7. Foreign currenciesMonetary assets and liabilities denominated in foreign currencies are translated into euro at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

1.8. TaxationNCBI (National Council for the Blind) Group is registered as a charitable organisation (CHY 20902) with the Revenue Commissioners, therefore no provision has been made for corporation tax.

1.9. PensionsThe pension costs charged in the financial statements represent the contribution payable by the company during the year.The regular cost of providing retirement pensions and related benefits is charged to the statement of financial activities over the employees' service lives on the basis of a constant percentage of earnings.

1.10. Reserves policyCharity funds are managed between restricted and unrestricted reserves. Restricted reserves relates to income where the donor specifies how the donation should be spent. Unrestricted reserves relates to income donated to the company without any stipulation by the donor as to how the funds should be spent.

1.11. Government grantsGrants are credited to deferred revenue. Grants towards capital expenditure are released to the Statement of Financial Activity over the expected useful life of the assets. Grants towards revenue expenditure are released to the Statement of Financial Activity as the related expenditure is incurred.

1.12 Impairment lossesAssets not measured at fair value are reviewed for any indication that the asset may be impaired at

each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

2. Transition to FRS 102Prior to 1 January 2014 the company prepared its financial statements under previously extant Irish GAAP. From 1 January 2014, the company has elected to present its annual financial statements in accordance with FRS 102 and the Companies Act 2014.The comparative figures were not required to be restated to reflect the company's adoption of FRS 102

from the date of transition at 1 January 2014.No changes in accounting policies were required to reflect the transition from Irish GAAP as previously reported and FRS 102.

3. IncomeThe total income of the company for the year has been derived from its principal activity wholly undertaken in Ireland.

4. Operating loss

2015 2014€ €

Operating loss is stated after charging:Depreciation and other amounts written off tangible assets 493,258 376,647Amortisation of capital grants (196,823) (178,585)

_______ _______

5. Employees note - consolidatedNumber of employeesThe average monthly numbers of employees 2015 2014during the year were: Number Number

Direct Service Activities 122 126Support Costs 12 13Trading Activities 84 79Generating Voluntary Income 4 4Governance 6 6

_______ _______228 228

_______ _______

Employment costs 2015 2014 € €

Wages and salaries 8,526,013 8,437,662ER PRSI 875,459 847,478Other pension costs 366,521 365,415

_______ _______9,767,993 9,650,555

_______ _______

2015 2014The number of higher paid employees was: Number Number

€60,000 - €70,000 7 6€70,000 - €80,000 2 4€80,000 - €90,000 2 1€90,000 - €100,000 1 1€110,000 - €120,000 1 1

_______ _______13 13

_______ _______

Remuneration includes base pay and excludes employer pension and PRSI contributions. In 2015 NCBI's Group CEO was paid €112,000. In 2015 NCBI's Services CEO was paid €95,710.NCBI Group and subsidiary companies operates a Defined Contribution Pension Scheme. The employee contributes a minimum of 5% and NCBI contributes 5% of gross pay. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to € 366,521 (31 December 2014 - € 365,415).

Board Member ExpensesNo member of the Board received any payments expect for the reimbursement of expenses incurred.

6. Transactions with directorsThere were no transactions with the directors during the period apart from those disclosed in note 5 and note 27.

7. Support and Governance costs

2015 2015 2014Support Governance Total

Payroll Costs Cost Driver Costs Costs CostsHuman Resources Staff Numbers 11,000 - 63,640Finance Staff Numbers 302,282 24,139 278,708Information Technology Staff Numbers 77,528 - 78,061Corporate and communications Staff Numbers 226,237 37,800 240,228Logistics Staff Numbers 125,290 - 100,102Non Payroll support 875,798 29,945 930,997

_______ _______ _______1,618,135 91,884 1,691,736

_______ _______ _______

8. IncomeConsolidated voluntary income includes the following:

Fundraising activities Unrestricted Restricted Total Total2015 2015 2015 2014

€ € € €

Committed and Cash Giving 102,713 - 102,713 347,773Corporate 34,560 - 34,560 34,957Legacies 520,220 3,373 523,593 466,488Events and Campaigns 700,457 - 700,457 188,288

_______ _______ _______ _______Total fundraising activities 1,357,950 3,373 1,361,323 1,037,506

_______ _______ _______ _______

9. Income from trading activitiesThe consolidated net result of shop operations is as follows:

Unrestricted Restricted Total Total2015 2015 2015 2014

€ € € €

Sales 4,806,012 - 4,806,012 4,507,821Wages and salaries (1,961,213) - (1,961,213) (2,045,612)Rent (890,050) - (890,050) (950,891)Other operating expenses (1,548,819) - (1,548,819) (1,014,228)Support costs (note 7) (84,106) - (84,106) (119,298)

_______ _______ _______ _______Net shop contribution 321,824 - 321,824 377,792

_______ _______ _______ _______

Sales represent income from the sale of donated goods through the charity's shops. It is not considered practicable to value stock of unsold donated goods at the year end.

10. Incoming Resources from Charitable Activities

Unrestricted Restricted Total Total2015 2015 2015 2014

Statutory Sources € € € €HSE Dublin North East:Dublin North Central - 3,004,170 3,004,170 3,013,023Dublin North East - 278,656 278,656 278,556

HSE Dublin Mid Leinster:Dublin South West - 174,930 174,930 174,930Dublin South East - 104,844 104,844 105,620Midlands - 359,858 359,858 351,435

HSE West:HSE Mid West - 426,105 426,105 422,276HSE North West - 371,424 371,424 352,654HSE West - 395,039 395,039 407,849

HSE South:HSE South - 751,712 751,712 771,638HSE South East - 665,921 665,921 697,210

HSE Other:Respite funding via Lottery - 43,581 43,581 47,575

_______ _______ _______ _______Total Statutory Sources - 6,576,240 6,576,240 6,622,766

_______ _______ _______ _______

Other SourcesLibrary and Audio Visual Services 76,951 - 76,951 68,533Telephony 713,022 - 713,022 648,932Sales of Low Vision Goods and Appliances - 138,404 138,404 119,772Pobal - 34,126 34,126 -EU Agencies and Projects 73,868 10,376 84,244 179,308Other income 45 196,830 196,875 292,327

_______ _______ _______ _______Total Other Sources 863,886 379,736 1,243,622 1,308,872

_______ _______ _______ _______

Overall total 863,886 6,955,976 7,819,862 7,931,638_______ _______ _______ _______

11. Investment income

Unrestricted Restricted Total Total2015 2015 2015 2014

€ € € €

Gain on investments 43,837 - 43,837 74,680Deposit interest 238,656 - 238,656 12,123

_______ _______ _______ _______282,493 - 282,493 86,803_______ _______ _______ _______

12. Costs of generating voluntary incomeConsolidated costs of generating voluntary income represents fundraising costs to raise both restricted and unrestricted income, excluding trading sales.

Total Total2015 2014

€ €

Salaries and pensions 185,472 226,462Direct fundraising costs 224,951 91,725Support costs (note 7) 67,369 100,835

_______ _______477,792 419,022_______ _______

13. Resources expensed for charitable activities - consolidatedHSE HSE HSE HSE HSE HSE

Dublin Dublin Dublin Dublin HSE HSE HSE Mid North HSE South National 2015 2014N. Central N.E. S.W. S.E. Midlands West West West South East Pobal Office Total Total

RestrictedCommunity Based Services 895,593 385,952 164,645 48,639 357,540 421,400 467,734 470,928 668,111 577,406 - - 4,457,948 4,649,247Training and Resource Centres 1,068,855 - - - - - - - - - 34,162 - 1,103,017 1,106,727Specialist Services 527,752 - - - - - - - - - - - 527,752 515,805Low Vision Shops and Services 54,001 - - - - - - - - - - 45,292 99,293 80,556Sale of appliances 93,880 - - - - - - - - - - - 93,880 105,039EU Agencies and Projects - - - - - - - - - - - 412,518 412,518 274,428

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______Direct Costs 2,640,081 385,952 164,645 48,639 357,540 421,400 467,734 470,928 668,111 577,406 34,162 457,810 6,694,408 6,731,802Support Costs (note 7) 180,164 38,199 38,199 38,199 38,199 38,199 38,199 38,199 60,094 60,094 - 96,938 664,683 1,159,309

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______Total Costs 2,820,245 424,151 202,844 86,838 395,739 459,599 505,933 509,127 728,205 637,500 34,162 554,748 7,359,091 7,891,111

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______UnrestrictedLibrary and Audio Visual Centre - - - - - - - - - - - 488,138 488,138 506,522Telephony Services - - - - - - - - - - - 615,876 615,876 601,259

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______Direct Costs - - - - - - - - - - - 1,104,014 1,104,014 1,107,781Support Costs (note 7) - - - - - - - - - - - 818,804 818,804 227,538

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______- - - - - - - - - - - 1,922,818 1,922,818 1,335,319

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______Total Charitable Expenditure 2,820,245 424,151 202,844 86,838 395,739 459,599 505,933 509,127 728,205 637,500 34,162 2,477,566 9,281,909 9,226,430

_______ _______ _______ _______ _______ _______ _______ _______ _______ ______________ _______ _______ _______

The resources expended on charitable activities have been classified to comply with SORP 2005. Such costs include the direct costs of the charitable activities together with those Support costs (see note 7) incurred that enable those activities to take place. These support costs have been allocated across the activities based on the appropriate cost driver.

14. a Consolidated Land and Long TrainingTangible assets buildings leasehold and office Motor Furniture

freehold property equipment vehicles and fittings Total€ € € € € €

CostAt 1 January 2015 6,171,528 3,119,901 248,030 577,948 1,508,427 11,625,834Additions 750,000 633,302 - 56,000 - 1,439,302

_______ _______ _______ _______ _______ _______At 31 December 2015 6,921,528 3,753,203 248,030 633,948 1,508,427 13,065,136

_______ _______ _______ _______ _______ _______DepreciationAt 1 January 2015 1,367,999 2,638,430 248,030 358,435 1,472,401 6,085,295Impairment loss 1,831,978 - - - - 1,831,978Charge for the year 140,237 286,132 - 46,094 20,795 493,258

_______ _______ _______ _______ _______ _______At 31 December 2015 3,340,214 2,924,562 248,030 404,529 1,493,196 8,410,531

_______ _______ _______ _______ _______ _______Net book valuesAt 31 December 2015 3,581,314 828,641 - 229,419 15,231 4,654,605

_______ _______ _______ _______ _______ _______At 31 December 2014 4,803,529 481,471 - 219,513 36,026 5,540,539

_______ _______ _______ _______ _______ _______

14. b Company Land and Long TrainingTangible assets buildings leasehold and office Motor Furniture

freehold property equipment vehicles and fittings Total€ € € € € €

CostAt 1 January 2015 6,171,528 1,273,495 248,030 502,495 1,508,427 9,703,975Additions 750,000 410,864 - 15,000 - 1,175,864

_______ _______ _______ _______ _______ _______At 31 December 2015 6,921,528 1,684,359 248,030 517,495 1,508,427 10,879,839

_______ _______ _______ _______ _______ _______DepreciationAt 1 January 2015 1,367,999 979,643 248,030 358,435 1,472,401 4,426,508Impairment loss 1,831,978 - - - - 1,831,978Charge for the year 140,237 107,883 - 35,594 20,795 304,509

_______ _______ _______ _______ _______ _______At 31 December 2015 3,340,214 1,087,526 248,030 394,029 1,493,196 6,562,995

_______ _______ _______ _______ _______ _______Net book valuesAt 31 December 2015 3,581,314 596,833 - 123,466 15,231 4,316,844

_______ _______ _______ _______ _______ _______At 31 December 2014 4,803,529 293,852 - 144,060 36,026 5,277,467

_______ _______ _______ _______ _______ _______

15. a Consolidated Land and Long TrainingTangible assets buildings leasehold and office Motor FurnitureIn respect of prior year freehold property equipment vehicles and fittings Total

€ € € € € €CostAt 1 January 2014 6,171,528 3,043,850 248,030 416,522 1,487,402 11,367,332Additions - 144,029 - 161,426 21,025 326,480Disposals - (48,951) - - - (48,951)

_______ _______ _______ _______ _______ _______At 31 December 2014 6,171,528 3,138,928 248,030 577,948 1,508,427 11,644,861

_______ _______ _______ _______ _______ _______DepreciationAt 1 January 2014 1,249,514 2,488,013 248,030 322,845 1,447,356 5,755,758On disposals - (48,951) - - - (48,951)Charge for the year 118,485 218,395 - 35,590 25,045 397,515

_______ _______ _______ _______ _______ _______At 31 December 2014 1,367,999 2,657,457 248,030 358,435 1,472,401 6,104,322

_______ _______ _______ _______ _______ _______Net book valuesAt 31 December 2014 4,803,529 481,471 - 219,513 36,026 5,540,539

_______ _______ _______ _______ _______ _______At 31 December 2013 4,922,014 555,837 - 93,677 40,046 5,611,574

_______ _______ _______ _______ _______ _______

15. b Company Land and Long TrainingTangible assets buildings leasehold and office Motor FurnitureIn respect of prior year freehold property equipment vehicles and fittings Total

€ € € € € €CostAt 1 January 2014 6,171,528 1,253,878 248,030 341,069 1,487,402 9,501,907Additions - 19,617 - 161,426 21,025 202,068

_______ _______ _______ _______ _______ _______At 31 December 2014 6,171,528 1,273,495 248,030 502,495 1,508,427 9,703,975

_______ _______ _______ _______ _______ _______DepreciationAt 1 January 2014 1,249,514 911,760 248,030 322,845 1,447,356 4,179,505Charge for the year 118,485 67,883 - 35,590 25,045 247,003

_______ _______ _______ _______ _______ _______At 31 December 2014 1,367,999 979,643 248,030 358,435 1,472,401 4,426,508

_______ _______ _______ _______ _______ _______Net book valuesAt 31 December 2014 4,803,529 293,852 - 144,060 36,026 5,277,467

_______ _______ _______ _______ _______ _______At 31 December 2013 4,922,014 342,118 - 18,224 40,046 5,322,402

_______ _______ _______ _______ _______ _______

16. a Financial assets - consolidated OtherListed unlisted

investments investments Total€ € €

Cost/revaluationAt 1 January 2015 99,985 202,113 302,098Revaluations 14,482 29,355 43,837

_______ _______ _______At 31 December 2015 114,467 231,468 345,935

_______ _______ _______

Net book valuesAt 31 December 2015 114,467 231,468 345,935

_______ _______ _______At 31 December 2014 99,985 202,113 302,098

_______ _______ _______

16. b Financial assets - company Otherunlisted

investments Total€ €

Cost/revaluationAt 1 January 2015 202,113 202,113Revaluations 29,355 29,355

_______ _______At 31 December 2015 231,468 231,468

_______ _______Net book valuesAt 31 December 2015 231,468 231,468

_______ _______At 31 December 2014 202,113 202,113

_______ _______

17. a Financial assets - consolidated OtherIn respect of prior year Listed unlisted

investments investments Total€ € €

Cost/revaluationAt 31 December 2014 74,761 152,657 227,418Gain on investments 25,224 49,456 74,680

_______ _______ _______At 31 December 2014 99,985 202,113 302,098

_______ _______ _______Net book valuesAt 31 December 2014 99,985 202,113 302,098

_______ _______ _______At 31 December 2013 74,761 152,657 227,418

_______ _______ _______

17. b Financial assets - company OtherIn respect of prior year unlisted

investments Total€ €

Cost/revaluationAt 31 December 2014 152,657 152,657Revaluations 49,456 49,456

_______ _______At 31 December 2014 202,113 202,113

_______ _______Net book valuesAt 31 December 2014 202,113 202,113

_______ _______At 31 December 2013 152,657 152,657

_______ _______

18. Stocks - consolidated 2015 2014€ €

Stocks 223,203 252,051_______ _______

There are no material differences between the replacement cost of stock and the balance sheet amount.

19. a Debtors - consolidated 2015 2014€

€

Trade debtors 199,559 205,544Other debtors 423,022 308,602Prepayments and accrued income 9,373 44,964

_______

_______631,954

559,110_______

_______

19. b Debtors - Company 2015 2014€

€

Trade debtors 199,559 205,544Amounts owed by group undertakings 3,019,298 11,915,777Other debtors 172,609 152,902

_______

_______3,391,466

12,274,223_______

_______

20. a Creditors: amounts falling due 2015 2014 within one year - Consolidated € €

Loans & other borrowingsBank overdraft - 331,402Bank loan 89,542 46,195

Other creditorsTrade creditors 290,213 286,775Accruals and deferred income 300,411 409,271

Taxation creditorsPAYE/PRSI 207,842 218,638VAT 30,991 9,849

_______ _______918,999 1,302,130_______ _______

The bank facilities are secured by a legal charge over the following properties: Unit 1 Emmet House, Barrack Square, Ballincollig, Co. Cork. 3 Nugent Street, Kildare, Co.Kildare. 33 Duke Street, Athy, Co. Kildare. 6 Main Street, Cashel, Co. Tipperary Main Street, Roscrea, Co. Tipperary. 36 O'Connell Street, Waterford. 133 North Main Street, Youghal, Co. Cork.

20. b Creditors: amounts falling due 2015 2014 within one year - Company € €

Loans & other borrowingsBank overdraft - 331,402Bank loan 89,542 46,195

Other creditorsTrade creditors 178,030 203,052Amounts owed to group undertaking 2,601,704 13,337,188Accruals and deferred income 228,652 347,182

Taxation creditorsPAYE/PRSI 18,268 31,809VAT 30,991 9,849

_______ _______3,147,187 14,306,677

_______ _______

21. Creditors: amounts falling due after more than one year - consolidated and company

2015 2014€ €

Bank loan 931,813 364,556_______ _______

22. Accruals and deferred income - consolidated and company2015 2014

€ €Capital grantsAt 1 January 2015 4,008,445 4,187,039Re-measurement of capital grants (1,830,999) -

_______ _______2,177,446 4,187,039

Released in year (196,823) (178,585)_______ _______

At 31 December 2015 1,980,623 4,008,454_______ _______

23. Capital grantsDuring the year, the directors undertook an examination of the capital grant balances brought forward. It was determined that some properties owned by the company and the corresponding capital grants were impaired. The property values and the related capital grants were written down to their net realisable value at 31st December 2015.

The effect of these adjustments was as follows: 2015€

Impairment loss on revaluation of properties 1,831,978Re-measurement of capital grants (1,830,999)

_______Net loss on impairment of properties 979

_______

24. Details of Borrowings

Maturity Analysis Within Between 1 Between 2 After Total1 year & 2 years & 5 years 5 years

€ € € € €

Repayable by instalmentsBank loan 89,542 179,096 179,096 573,614 1,021,348

_______ _______ _______ _______ _______At end of year 89,542 179,096 179,096 573,614 1,021,348

_______ _______ _______ _______ _______

25. a Reconciliation of movements in consolidated charity funds 20152014

€ €

Deficit for the year (67,062) (296,466)Opening charity funds 3,415,039 3,711,505

_______ _______Closing charity funds 3,347,977 3,415,039

_______ _______

Analysed as:Unrestricted funds 2,529,151Restricted funds 818,826

_______3,347,977

_______

25. b Reconciliation of movements in Company charity funds 20152014

€ €

Deficit for the year (528,218) (433,638)Net movement on transfers between companies 3,224,455 -

_______ _______Net addition to charity funds 2,696,237 (433,638)Opening charity funds (737,175) (303,581)

_______ _______Closing charity funds 1,959,062 (737,219)

_______ _______

Analysed as:Unrestricted funds 4,265Restricted funds 1,954,797

_______1,959,062

_______

26. Co-Funding by NCBI Group NCBI ServicesStatement of

financial activities Total€ €

At 1 January 2015 - -NCBI Services deficit for the year (979,278) (979,278)Co-Funding by NCBI Group 979,278 979,278

_______ _______At 31 December 2015 - -

_______ _______

27. Related party transactionsNCBI Group is the holding company and is a related party of its following three subsidiaries: NCBI Services, NCBI Retail and NCBI Charitable Foundation. The companies also have some common directors.Related party transactions occur between group companies as a result of payments and receipts made

on behalf of group companies by another group member and the allocation of support costs from NCBI Group to its subsidiary companies. All companies in the group financially support group members and so transfers occur between companies where the activities of the company is in deficit.

All transactions were conducted at arm's length.

28. Gross cash flows

2015 2014€ €

Capital expenditure Payments to acquire tangible assets (1,175,864) (326,480)Receipt of grant (1,830,999) -

_______ _______(3,006,863) (326,480)

_______ _______

29. Analysis of changes in net fundsOpening Cash Closingbalance flows balance

€ € €

Cash at bank and in hand 2,436,381 (1,112,666) 1,323,715Overdrafts (331,402) 331,402 -

_______ _______ _______2,104,979 (781,264) 1,323,715

_______ _______ _______Debt due within one year (46,195) (43,347) (89,542)Debt due after one year (364,556) (567,257) (931,813)

_______ _______ _______(410,751) (610,604) (1,021,355)_______ _______ _______

Net funds 1,694,228 (1,391,868) 302,360_______ _______ _______

30. Company limited by guaranteeThe company and its subsidiaries are limited by guarantee not having a share capital. The liability of each individual member, in the event of the company being wound up is €1.

31. Financial statements of branchesThe financial statements of the company contain the transactions relating to head office. Those staff costs and Health Board grants relating to branches which were administered by head office are included in the accounts.

The members of the council do not consider that inclusion of financial transactions of each individual branch is practical and believe that this will not materially affect the net assets of the council as shown in the financial statements.

NCBI branches and their funds are not under the direct control of NCBI Group or its subsidiary companies. At 31 December 2015, there were 11 county branches and a number of smaller townland branches in existence. NCBI expect to receive all funds from these branches over the next five years.

32. Approval of financial statementsThe board of directors approved these financial statements and authorised them for issue on ____________.

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