Escolar Documentos
Profissional Documentos
Cultura Documentos
REPORT AND
ACCOUNTS
Contents
Patron
Her Majesty The Queen
President
His Royal Highness The Prince of Wales
KG KT GCB OM
Deputy presidents
Her Royal Highness Princess Alexandra,
the Hon Lady Ogilvy LG GCVO
The Countess Mountbatten of Burma CBE
CD JP DL
Honorary vice-presidents
Lord Barnard TD
The Rt Hon Baroness Chalker of Wallasey
Sylvia, Countess of Limerick CBE
Professor John McClure OBE
Mrs Elspeth Thomas CBE DL
Sir Nicholas Young
Vice-presidents
Mr Anthony Andrews
Ms Angela Rippon OBE
Mrs Maria Shammas MBE
Board of trustees
Mr David Bernstein CBE, chair
Mr John Dauth AO LVO, vice-chair
Mrs Hilary Douglas CB, vice-chair
Mr Paul Taylor, vice-chair
Mr David Howell, treasurer
Mrs Fionnuala Cook DL OBE
Mr Robert Dewar CMG
Ms Amy Foan
Mr Michael Herriot MBE
Mrs Uzo Iwobi OBE
Mr Steve John
Dr Lise Llewellyn
Mr Gordon Low
Mrs Gill Moffat
Mrs Amanda Nicholson
Dr Daniel Sedgewick
Mr Keith Shipman
/2
Trustees report
External auditors
Deloitte LLP
2 New Street Square
London EC4A 3BZ
Bankers
National Westminster Bank plc
City of London Office
PO Box 12258
1 Princes Street
London EC2R 8PA
External legal advisers
Withers
Old Bailey
London EC4M 7EG
Our aims
/5
/6
/8
/16
/26
/27
/29
/33
Accounts
Investment managers
BlackRock
12 Throgmorton Avenue
London EC2N 2DL
/40
/42
Thank you
/66
/1
Introduction
Chairs statement
I have now completed my first year as
chair of the board of trustees. It has
proved to be an exciting and interesting
introduction to the British Red Cross
and I am truly privileged to be part of
this great organisation.
2014 has been a year of real success
for the charity in spite of a difficult
economic background. We responded
to 14 international emergencies which
ranged from floods in the Balkans and
Bangladesh to the Ebola outbreak in
West Africa, drought in Kenya and
various conflicts. The contribution
of our volunteers and staff was, as
always, outstanding.
Our impartiality, neutrality and
independence have allowed us to deliver
life-saving assistance to people in these
countries and many more. Partnership
is at the heart of all we do overseas, and
we have worked with National Societies
across the International Red Cross and
Red Crescent Movement, supporting
each other to make a difference to the
lives of millions.
In the UK, our staff and volunteers have
worked together to continue tackling
crises in their local areas. This involves
us in a wide range of support from
helping victims of house fires and driving
patients to medical appointments to
giving first aid at major events and
Mike Adamson
2/3
Our aims
4/5
2014: Achievements
and performance
Find out about the main areas of our work
in the UK and overseas during 2014.
Firewood is unloaded
from the British Red Cross
Unimog 4x4 all-terrain
vehicle, which is usually
used in international
disasters but was used to
deliver fuel to villagers in
Muchelney, Somerset in
early 2014.
Photo Pages 6-7 Chuck Haupt /BRC.
6/7
8/9
Refugee support
You can find our refugee services in 48
towns and cities across the UK. Many
refugees and asylum seekers experience
serious problems with the UK asylum
system, whatever their status. In 2014
we surpassed our target of helping
refugees and asylum seekers in the UK
by 71 per cent, as more than 19,000
people turned to us for help and support.
Our services provide a lifeline to many
people in desperate situations who are
homeless, unemployed and hungry
with no access to health care and daily
essentials. We offer everything from food
parcels, clothing, toiletries and nappies
to emotional and family reunion support,
and advice on living in the UK. We also
help people access English classes and
legal and financial support.
Throughout the year we helped refugees
and asylum seekers from countries
including Eritrea, Syria, Iran, Afghanistan,
Nigeria, Pakistan, Iraq and Zimbabwe.
Our work to improve the family reunion
process continued as we ran pilot
10 / 11
HALLOWEEN HAZARDS:
FIRST AID GUIDE
If you cut
yourself, put
pressure on
the wound with
whatever is
available.
To treat a
burn, cool it
under cold
running water
for at least ten
minutes.
If someone
is choking, hit
them firmly
on the back
between the
shoulder
blades.
We offer topical first aid advice every Friday on our social media channels
Photos Page 12 Callum Bennetts/Maverick Photo Agency. Page 13 Knape/iStock.
12 / 13
Independent living
We help people to live independently
in their own homes. Our services can
reduce admissions to hospitals and care
homes by providing support at home,
transport support and mobility aids. We
met our targets for independent living in
2014, helping more than 74,500 people
through our support at home services,
working in partnership with other
agencies to give people in crisis the help
they need.
Our volunteers did everything from
collecting shopping and taking people
to medical appointments to giving
people the confidence to lead their own
lives again after a long stay in hospital.
We trialled a new top three goals
approach, in which the people we help
determine what support and care they
receive to improve their lives.
14 / 15
Round-up of emergency
appeals in 2014
Syria
March marked the third year of the
Syria conflict in which more than
200,000 people have been killed, with
many more injured or detained. An
estimated 12.2 million people needed
help: 7.6 million fled their homes,
4.8 million were categorised as hard
to reach, and 5.6 million were children.
More than three million others sought
refuge in neighbouring countries such
as Lebanon.
16 / 17
Round-up of emergency
appeals in 2014 continued
Iraq
Thousands of people were killed as
violence continued in parts of Iraq. Over
two million people fled their homes and
5.2 million people urgently needed help.
The International Red Cross and Red
Crescent Movement provided food,
water, shelter, health care and other lifesaving necessities to some of the most
vulnerable families.
Our Iraq Crisis Appeal raised
489,000 and in October we pledged
more than 140,000 to buy 25,000
thermal blankets as winter approached.
We also sent staff to support the
emergency response as temperatures
fell below freezing.
South Sudan
Conflict forced hundreds of thousands
of people to leave their homes. The rainy
season in June transformed roads and
airstrips into quagmires, preventing vital
aid from reaching people in need.
For the first time in nearly 20 years, the
International Committee of the Red
Cross (ICRC) resorted to airdrops,
providing food in seven areas including
Lakes, Unity and Upper Nile.
Our South Sudan appeal raised
313,000, which has helped to fund
placements by health and logistics
experts, as well as cash grants and
contributions to the ICRCs work in
the country.
West Africa
The worst outbreak of Ebola ever
recorded left thousands dead in Guinea,
Liberia and Sierra Leone and the
disease had not been brought under
control by the end of 2014. We sent four
delegates to Liberia and 21 to Sierra
Leone, including logisticians, doctors
and nurses.
Our Ebola Outbreak Appeal raised more
than 21.8m to support the Movements
five pillar approach to stopping Ebola:
1. Raising awareness among
communities of how the disease is
spread. Volunteers reached 3.5 million
people in 2014.
2. Finding and monitoring people
who may have come into contact with
the disease over 44,700 people
were traced who may have had contact
with Ebola.
3. Treating patients at the specially
designed treatment centres in Kenema
and Kono (Sierra Leone) and Macenta
(Guinea). Health staff admitted over 700
patients and more than 300 were given
the all-clear.
4. Red Cross burial teams carried
out more than 10,600 safe and dignified
burials of infectious bodies across West
Africa. They disinfected over 24,700
homes and other buildings.
5. Working with affected communities
and survivors to reduce stigma,
supporting over 32,000 people.
Philippines
In November 2013, one of the most
devastating storms ever to make landfall
hit central Philippines. It affected over
five million people, destroying tens of
thousands of homes and livelihoods.
By the time our appeal closed in
May 2014, we had raised 23.5m
to support communities affected by
Typhoon Haiyan. This included helping
the Philippines Red Cross set up a
recovery programme in Iloilo province.
The programme covers everything from
providing shelter, water and drainage
to livelihoods projects and helping
communities withstand future disasters.
We also gave more than 5,000
households cash grants and training to
help kick-start their businesses again.
We helped around 3,500 households to
repair and rebuild their shelters and built
more than 70 new homes for families
whose houses were destroyed by the
typhoon.
But we didnt just focus on Iloilo.
We also supported the International
Federation of Red Cross and Red
Crescent Societies work with 8,500
households across Panay, Cebu
and Leyte.
18 / 19
Resilience
We dont just help communities after
major disasters. We work with a huge
range of community groups every year
so they can prepare for, withstand and
recover from a range of crises, including
illness, food shortages, earthquakes
and cyclones.
Here are just some of our overseas
resilience projects from 2014.
Safer houses in Haiti
In January 2010, a 7.0 magnitude
earthquake caused devastation in Haiti.
Weve been working there ever since
with the residents of Delmas 19, a poor
suburb of the capital Port-au-Prince.
Alongside literacy lessons and business
grants, weve helped to train 10 boss
masons and 40 trainee masons.
Construction skills, knowledge and
standards are being passed on to this
new workforce, who will help bring
about a long-term change in building
practices. In place of the flimsy concrete
homes that were destroyed, the masons
have built new houses that are designed
to withstand seismic shocks from future
earthquakes. They have also created
new paths to cover open waterways
that were full of rubbish and sewage.
Healthy households in Afghanistan
A community health programme
funded by the British Red Cross
is bringing clean water, toilets and
health information to villages in rural
Afghanistan. In 2013 and 2014, it
helped tens of thousands of people
including hundreds of pregnant women.
A 2010 estimate by the United Nations
suggested Afghanistans maternal
mortality ratio was among the highest
in the world, at around 460 deaths per
100,000 live births. The Afghanistan
Red Crescent has been helping
communities in remote areas
understand when they should seek
treatment for women in labour.
TACKLING
EBOLA:
44,700
people
traced
10,600
safe and
dignified
burials
32,000
people got
support to
tackle stigma
20 / 21
International humanitarian
law and policy
The British Red Cross continues to
be recognised as a leading National
Society in international humanitarian
law (IHL), and as a reliable and expert
partner to the government and the UK
armed forces.
22 / 23
2014 in two
minutes
January
> Volunteers battled
wind, rain and floods to
support people affected
by winter weather
across the UK.
February
> We donated
money from the
disaster fund
as over 24,000
people fled to
Cameroon to
escape violence in
the Central African
Republic.
March
> We continued
to support a
programme for
people living with
TB and HIV in
Kazakhstan.
May
> Red Cross
Week saw
cake sales,
concerts, runs,
walks and
men dressing
as Lady Gaga
all to raise
over 1m
for people
in crisis.
June
> We appealed for
donations to help
people in Serbia
and Bosnia and
Herzegovina after
the worst floods
there in more than
a century.
July
September
> We raised
money to help
bring food, water,
shelter and health
care to people
affected by the
violence in Iraq.
October
Photos Page 24 Land Rover, Jon Bjrgvinsson/ICRC, Matthew Percival/BRC, Marko Djurica/Reuters, Ibrahim Malla/IFRC.
Page 25 Matthew Percival/BRC, IFRC, Museum & Archive/BRC, James Sharrock/Burning Eye Photography.
> We continued
fundraising to tackle
Ebola in West Africa.
In the UK, volunteers
helped Tesco, Fareshare
and The Trussell Trust to
collect food for families
hit by food poverty.
November
> To mark the
centenary of the
First World War we
began to publish
the personnel
records of 90,000
volunteers online,
100 years after
they were written.
April
December
> A group of music stars
united as The Peace
Collective to record The
Farms 1990 hit song, All
Together Now, to raise money
for the British Red Cross.
24 / 25
Introducing the
next five years
Our plans
for 2015
In the UK
We will help more than 82,000 people
to live independently at home. This will
include making sure patients cope as
they leave hospital and return home,
and providing mobility aids to everyone
who needs them. We will teach lifesaving first aid skills to the groups
who most need them, e.g. homeless
people, carers and young offenders.
When people are affected by severe
weather, house fires and other shock
events, we will help them cope. We will
provide practical and emotional support
to refugees and asylum seekers, and
increase our capacity to help victims of
human trafficking.
Overseas
We will support those countries that are
most at risk of crisis but have the least
capacity to prepare for, withstand and
recover from them. We will work closely
with National Societies in Africa, Asia
and the Middle East. Well share our
leadership and technical expertise to
help the Movement respond effectively
to crises. During conflicts and natural
disasters, we will support the Movement
to help those affected.
Advocate
We will raise our voice with and on
behalf of people in crisis, calling for:
>>access to short-term wheelchair loans
and preventative services in the UK
>>an end to delays in the asylum system
that leave people destitute
>>legal support for family reunion for
those with leave to remain in the UK
>>resilience to be given greater
prominence on the international
development agenda.
Harness technology
We will use technology and research to:
>>inform what we do
>>make it easier for people to access
our services
>>put more life-saving skills in peoples
pockets with a new emergency
response mobile app
>>connect with our supporters in
new ways.
Resources
We use our resources to achieve the
best possible outcomes for those
who seek or receive our help. We
will consider our structures, ways of
working and processes to ensure
were doing the best job we can,
making sure we are flexible to respond
to any new needs.
26 / 27
Review of fundraising
and finances
19%
14%
Grants
8%
Legacies
3%
Other income
261.8m
Income
11%
Retail
45%
Donations
On the centenary of
the First World War
volunteers began to help
us publish the personnel
records of 90,000 wartime
volunteers (VADs).
Photos Page 28 Museum and Archives/BRC.
28 / 29
1%
Governance
13%
19%
Emergency
response and
recovery
Cost of
generating
voluntary
income
41%
9%
256.6m
International
Cost of
generating
retail sales
Expenditure
5%
Refugee
support
180.7m
Charitable
expenditure
71%
14%
Education
27%
Charitable
expenditure
Independent
living
Income (m)
Expenditure (m)
89.3
Fundraising
Retail
6.1
22.9
29.0
49.8
139.1
Grant expenditure
We award grants to partner
organisations as part of delivering our
charitable activities. We undertake a
formal appraisal of the project and
partner organisation before making
the grant subject to specific grant
agreements with the partners. We
monitor and evaluate progress and if we
are not satisfied that the grant is being
managed according to the agreement,
we can delay or discontinue it. In 2014
we spent 51.3m (2013: 32.2m) in
grants to international, national and local
partner organisations. Further detail is
shown at note 4 to the accounts.
Reserves
We have been employing reserves
over the past few years to do more to
help people in crisis. Reserves in 2014
Pensions
We have two defined-benefit pension
schemes, which are both closed to
new members. The net pension surplus
reported on an FRS 17 basis is 1m as at
31 December 2014 (2013: 0.8m) and the
actuarial loss during the year was 0.5m
(2013: 0.3m loss). A deficit reduction plan
is in place for one of the schemes.
30 / 31
Free reserves
50.0
Minimum level
40.0
30.0
20.0
10.0
2011
2012
2013
2014
2015
2016
2017
Risk
Mitigating actions
Digital technology
New digital technology developments may
be missed or may not be implemented
appropriately. This could lead to organisational
inefficiencies including increased expenditure,
time and resource requirements and reduced
engagement with donors and people in crisis.
32 / 33
Mitigating actions
Governance
The British Red Cross was founded
in 1870, and incorporated by Royal
Charter in 1908. A supplemental
Royal Charter took effect on 1 January
1998 and this was revised by HM The
Queen in Council on 17 July 2003.
The governing instruments under which
the British Red Cross operates comprise
this revised charter, the standing orders
and other policies agreed from time to
time by its governing body, the board
of trustees.
Board of trustees
The board of trustees has ultimate legal
responsibility for our organisation and
works to ensure good governance,
with the help of its sub-committees.
The board agrees the overall strategic
direction and is our highest decisionmaking body. Its members are
volunteers. They work alongside the
senior management team, who are
responsible for the implementation of
policy and for the management of the
day-to-day running of the organisation.
Board
Nominations
group
Clinical
governance and
patient safety
committee
Remuneration
committee
Health, safety
and security
committee
Ethical
fundraising
review
committee
Investment
sub-committee
34 / 35
Structure
A wholly owned trading subsidiary,
Britcross Limited, donates its trading
profits to the British Red Cross. The
British Red Cross has eight branches in
British Overseas Territories.
The British Red Cross is a prominent
member of the International Red
Cross and Red Crescent Movement,
with volunteers and staff contributing
to a number of initiatives within the
International Federation of Red Cross
and Red Crescent Societies, the
International Committee of the Red
Cross (ICRC) and 189 member Red
Cross and Red Crescent Societies.
Carbon emissions
In 2013, we were awarded the Carbon
Trust Standard Award a first for a
major UK charity in recognition of our
achievements in managing the reduction
of carbon emissions from our properties.
In 2014 we installed solar panels on a
further two buildings making a total of
611 panels now installed. Since the
start of our programme we have
reduced our carbon emissions from
heat and power by 1,260 tonnes (15
per cent) this reduction equates to a
saving of 252,000.
Trustees responsibilities
The trustees are responsible for
preparing the trustees annual report
and the financial statements in
accordance with applicable law and
United Kingdom Accounting Standards
(United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities in
England, Wales and Scotland requires
the trustees to prepare financial
statements for each financial year
which give a true and fair view of the
state of affairs of the charity and of the
36 / 37
Pension entitlement
Chief executive
170,000
GPP*
Director of
fundraising
111,742
GPP*
Director of
finance and
business
development
100,708
GPP*
Director of
people and
learning
102,000
Final Salary**
Director of
international
operations
93,820
GPP*
Director of UK
operations
Final Salary**
Director of
communications
GPP*
93,365
38 / 39
Independent auditors
report to the trustees of
the British Red Cross
We have audited the financial
statements of the British Red Cross
for the year ended 31 December 2014
which comprise the Consolidated
Statement of Financial Activities, the
Consolidated and Charity Balance
Sheets, the Consolidated Cash
Flow Statement and the related
notes 1 to 24. The financial reporting
framework that has been applied in
their preparation is applicable law and
United Kingdom Accounting Standards
(United Kingdom Generally Accepted
Accounting Practice).
This report is made solely to the charitys
trustees, as a body, in accordance with
section 144 of the Charities Act 2011,
regulations made under section 154 of
that Act, section 44(1)(c) of the Charities
and Trustee Investment (Scotland) Act
2005 and regulation 10 of the Charities
Accounts (Scotland) Regulations 2006
(as amended). Our audit work has been
undertaken so that we might state to
the charitys trustees those matters
we are required to state to them in
an auditors 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
charity and the charitys trustees as a
body, for our audit work, for this report,
or for the opinions we have formed.
Respective responsibilities of
trustees and auditor
As explained more fully in the Trustees
Responsibilities Statement, the trustees
are responsible for the preparation of the
financial statements which give a true
and fair view.
We have been appointed as auditor
under section 144 of the Charities
Act 2011 and section 44(1)(c) of the
Charities and Trustee Investment
(Scotland) Act 2005 and report in
accordance with regulations made
under those Acts. Our responsibility
is to audit and express an opinion on
the financial statements in accordance
with applicable law and International
Standards on Auditing (UK and Ireland).
Those standards require us to comply
with the Auditing Practices Boards
Ethical Standards for Auditors.
Scope of the audit of the financial
statements
An 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 groups
and the parent charitys circumstances
and have been consistently applied
Deloitte LLP
Chartered Accountants and Statutory
Auditor
London, UK
7 April 2015
Deloitte LLP is eligible to act as an
auditor in terms of section 1212 of
the Companies Act 2006 and
consequently to act as the auditor of
a registered charity.
40 / 41
42 / 43
Restricted
m
2014
Total Unrestricted
m
m
Restricted
m
2013
Total
m
Incoming resources
Incoming resources from generated funds
Voluntary income
Retail
Investment income
Total incoming resources from
generated funds
107.7
29.0
0.3
32.8
-
140.5
29.0
0.3
105.2
28.1
0.1
23.1
-
128.3
28.1
0.1
137.0
32.8
169.8
133.4
23.1
156.5
6.4
0.1
15.9
25.9
1.3
0.4
0.9
0.4
0.9
33.1
6.8
1.0
16.3
26.8
34.4
4.3
15.6
23.9
1.0
0.1
0.6
0.5
0.6
22.5
4.4
0.6
16.1
24.5
23.5
49.6
35.7
85.3
44.8
24.3
69.1
0.5
0.1
0.6
0.5
0.5
6.1
6.1
2.4
(0.1)
2.3
193.2
68.6
261.8
181.1
47.3
228.4
47.2
22.9
70.1
2.6
2.6
49.8
22.9
72.7
46.5
24.1
70.6
2.9
2.9
49.4
24.1
73.5
22.8
6.5
24.8
47.2
18.1
1.1
1.2
0.8
2.0
56.2
23.9
7.7
25.6
49.2
74.3
20.8
6.1
24.7
45.8
16.7
1.0
0.6
0.9
1.6
36.9
21.8
6.7
25.6
47.4
53.6
119.4
61.3
180.7
114.1
41.0
155.1
3.2
3.2
3.1
3.1
192.7
63.9
256.6
187.8
43.9
231.7
0.5
4.7
5.2
(6.7)
3.4
(3.3)
0.3
(0.3)
1.0
(1.0)
0.8
4.4
5.2
(5.7)
2.4
(3.3)
10
0.1
0.4
0.5
0.9
0.3
1.2
16
(0.5)
(0.5)
(0.3)
(0.3)
0.4
4.8
5.2
(5.1)
2.7
(2.4)
90.2
39.6
129.8
95.3
36.9
132.2
90.6
44.4
135.0
90.2
39.6
129.8
2013
Charity
m
9
10
61.1
19.7
63.0
19.2
59.5
19.7
63.0
19.2
80.8
82.2
79.2
82.2
4.0
34.6
27.8
4.9
3.3
32.0
29.1
3.7
3.9
35.6
27.8
4.1
3.2
32.7
29.1
3.1
71.3
68.1
71.4
68.1
(16.2)
(17.6)
(16.2)
(17.6)
55.1
50.5
55.2
50.5
135.9
132.7
134.4
132.7
(0.3)
(1.6)
(0.3)
(3.4)
(0.3)
(1.6)
(0.3)
(3.4)
134.0
129.0
132.5
129.0
1.0
0.8
1.0
0.8
135.0
129.8
133.5
129.8
11
12
10
Current liabilities
Creditors: amounts falling due within one year
13
14
16
Net assets
Funds:
Governance costs
2014
Charity
m
Current assets
Stocks
Debtors
Investments
Cash at bank and in hand
2013
Group
m
Fixed assets
Tangible fixed assets
Investments
Notes
2014
Group
m
7, 8
Restricted funds
44.4
39.6
42.9
39.6
8
8
8
54.0
1.0
35.6
57.2
0.8
32.2
54.0
1.0
35.6
57.2
0.8
32.2
90.6
90.2
90.6
90.2
135.0
129.8
133.5
129.8
Unrestricted funds
Total funds
Approved by the board of trustees on 24 March 2015 and signed on its behalf by
David Bernstein
Chair, board of trustees
24 March 2015
David Howell
Chair, finance, risk and audit committee
24 March 2015
All the activities relate to continuing operations. For the parent charity, total incoming resources for the year are 259.3m (2013: 227.5m),
total resources expended are 255.6m (2013: 230.8m) and net movement in funds is a surplus of 3.7m (2013: deficit of 2.4m).
44 / 45
2013
m
Reconciliation of net outgoing resources to net cash inflow / (outflow) from operating activities
Net incoming / (outgoing) resources
Depreciation charge
Net gains on disposal of tangible fixed assets
(Increase) / decrease in stocks
Increase in debtors
(Decrease) / increase in creditors
(Decrease) / increase in provisions for liabilities and charges
Net charges for defined benefit pension scheme
Donation of net assets from Bermuda Red Cross Charitable Trust
Foreign currency gain on net assets of Bermuda Red Cross Charitable Trust
5.2
5.5
(6.1)
(0.7)
(2.6)
(1.4)
(1.8)
(0.7)
(1.4)
(0.1)
(3.3)
6.9
(2.3)
0.7
(2.0)
0.2
1.2
(0.6)
-
(4.1)
0.8
(4.1)
0.8
36.1
(19.0)
17.1
8.2
(4.2)
3.3
(6.7)
4.0
(3.4)
1.3
(17.3)
1.2
(2.8)
Notes
Financial investment
Sale of fixed asset investments
Purchase of fixed asset investments
Capital expenditure
Sale of tangible fixed assets
Purchase of tangible fixed assets
18
18
1.2
(1.3)
(2.8)
17.3
(0.1)
14.5
32.5
18.0
32.4
32.5
1. Accounting policies
(a) Scope and basis of the financial statements
The consolidated financial statements have been prepared
under the historical cost convention, as modified by the
revaluation of investments at market value, and are in accordance
with Accounting and Reporting by Charities: Statement of
Recommended Practice (Revised 2005) (the SORP), applicable
accounting standards in the United Kingdom and the reporting
requirements of the Charities Act 2011.
The results and balance sheet of the British Red Cross
subsidiary, Britcross Limited, have been consolidated on a line by
line basis. Britcross Limited prepares accounts to 31 December.
On 29 January 2014, the Bermuda Red Cross Charitable Trust
amended its constitution bringing it under the control of the
British Red Cross. The Trust has accordingly been accounted
for as a subsidiary undertaking in the financial statements. Net
assets were measured at fair value after being aligned to British
Red Cross accounting policies. The resulting gain has been
accounted for as a gift and included in voluntary income. The
consolidated financial statements include the results of the Trust
from the date that control passed and are consolidated on a line
by line basis. See note 6 for further details.
A separate statement of financial activities has not been
presented for the charity alone as this is not considered to be
materially different from the consolidated statement of financial
activities (SOFA).
The financial statements incorporate the results of all material
activities overseas where the British Red Cross has operational
responsibility. The results and net assets of Red Cross operations
in eight British Overseas Branches have been included in the
financial statements.
Gifts donated for resale are included as income when they are
sold. Donated assets and services are included at the value
to the British Red Cross where this can be reliably quantified.
Donated services from our volunteers are not included within the
financial statements.
(d) Resources expended and basis of allocation of cost
All expenditure is accounted for on an accruals basis.
Direct costs are those specifically related to producing the output
of an activity, for example the costs incurred in direct contact with
beneficiaries.
Support costs are those which provide indirect support to frontline output provision examples are central finance, human
resources and management information services. Support costs
not attributable to a single activity have been allocated on a basis
consistent with identified cost drivers for that cost category such
as staff head count, floor space and expenditure.
Governance costs relate to the direct running of the charity,
allowing the charity to operate and generate the information
required for public accountability. They include the costs of
subscriptions related to membership of the International Red
Cross and Red Crescent Movement, as well as the costs of
trustee meetings and internal and external audits.
(e) Tangible fixed assets and depreciation
All tangible fixed assets costing more than 1,000 are capitalised
and included at cost, including any incidental expenses of
acquisition and irrecoverable VAT. Depreciation is provided on a
straight-line basis over their useful economic lives as follows:Freehold properties
50 years
Leasehold properties
Freehold premises
improvements
ten years
Leasehold premises
improvements
Ambulances
Other vehicles
five years
Freehold land
Nil
Assets in course of
construction
Nil
46 / 47
(j) Provisions
Provisions are recognised when the British Red Cross has a legal
or constructive financial obligation, that can be reliably estimated
and for which there is an expectation that payment will be made.
(k) Operating leases
Rentals under operating leases are charged on a straight-line
basis over the lease terms, even if the payments are not made on
such a basis.
Benefits received and receivable as an incentive to sign an
operating lease are, similarly, spread on a straight-line basis over
the lease term, except where the period to the review date on
which the rent is first expected to be adjusted to the prevailing
market rate is shorter than the full lease term, in which case the
shorter period is used.
(l) Foreign currencies
The British Red Cross uses forward exchange contracts to hedge
some of its known foreign exchange exposure. Transactions in
foreign currencies are recorded at the rate of exchange prevailing
at the date of the transaction, except where a forward contract is
in place, in which case the rate specified in the contract is used.
Monetary assets and liabilities are translated into sterling at the
exchange rate ruling on the balance sheet date, except where
a forward contract is in place, in which case the relevant asset/
liability is translated at the rate contained in the contract.
Foreign exchange gains are recognised as other income and
foreign exchange losses are recognised in the consolidated
statement of financial activities within the relevant charitable
activity expenditure for the period in which they are incurred.
(m) Programme commitments
The British Red Cross regularly pledges support to programmes
led by the International Federation of Red Cross and Red
Crescent Societies (IFRC), International Committee of the Red
Cross (ICRC) or other National Societies. Where full payment of
the pledges is contingent on the outcome of British Red Cross
reviews of the programmes, these programme commitments are
contingent liabilities and therefore not recognised on the balance
sheet.
2. Voluntary income
Regular giving
Public donations, appeals and fundraising
Donations to services
Gift aid
Legacies
Disasters Emergency Committee appeals
Donation of net assets from Bermuda Red Cross
Charitable Trust
Total
2014
Total Unrestricted
m
m
Restricted
m
2013
Total
m
48.1
20.6
2.4
12.9
21.2
-
0.1
20.1
1.4
0.6
0.9
48.2
40.7
2.4
14.3
21.8
0.9
1.4
140.5
105.2
23.1
128.3
Unrestricted
m
Restricted
m
50.2
20.9
2.3
13.1
21.2
-
0.9
21.4
1.5
1.0
6.6
51.1
42.3
2.3
14.6
22.2
6.6
1.4
107.7
32.8
Legacy income is not recognised until the British Red Cross has entitlement to the funds, the amount can be quantified and there is
certainty of receipt. The estimated value of legacies, which have been notified, but not recognised at 31 December 2014 was 8.7m
(2013: 7.7m) of which 6.1m (2013: 5.9m) are assets bequeathed to the British Red Cross, but subject to life tenancy.
Disasters Emergency Committee (DEC) appeal income is recognised to the extent that resources have been committed on programmes
funded through the DEC appeals. According to our agreed allocation, the value of DEC appeal income not drawn down or accrued for at
31 December 2014 was 0.5m (2013: 6.8m).
UK
Support in emergencies
Refugee support
First aid and humanitarian education
Independent living - Care and support programmes
Independent living - Medical equipment services
Contracts
and fees
m
Grants
m
2014
Total
m
6.6
15.9
15.8
9.0
0.2
1.0
0.4
1.7
0.3
6.8
1.0
16.3
17.5
9.3
4.3
15.6
13.7
8.9
0.1
0.6
0.5
1.8
0.1
4.4
0.6
16.1
15.5
9.0
47.3
3.6
50.9
42.5
3.1
45.6
1.7
32.7
34.4
1.5
22.0
23.5
49.0
36.3
85.3
44.0
25.1
69.1
International
Total
Contracts
and fees
m
Grants
m
2013
Total
m
International grant income includes grants from the UK Governments Department for International Development (DFID)
totalling 31.5m (2013: 20.6m):
>> 18.6m from DFID for emergency response programmes in
countries including Sierra Leone, Liberia, Guinea and the Philippines
48 / 49
Grants
Direct
Costs
m
Grants
m
Support
Costs
m
2014
Total
m
2013
Total
m
48.1
22.3
1.7
0.6
49.8
22.9
49.4
24.1
70.4
2.3
72.7
73.5
22.2
7.0
23.1
30.3
14.1
0.1
-
1.7
0.6
2.5
3.8
1.0
23.9
7.7
25.6
34.1
15.1
21.8
6.7
25.6
32.5
14.9
96.7
0.1
9.6
106.4
101.5
21.7
51.2
1.4
74.3
53.6
118.4
51.3
11.0
180.7
155.1
1.8
0.9
0.1
0.3
0.1
1.8
0.9
0.1
0.4
2.0
0.8
0.1
0.2
3.1
0.1
3.2
3.1
191.9
51.3
13.4
256.6
231.7
Charitable activities
UK
Support in emergencies
Refugee support
First aid and humanitarian education
Independent living - Care and support programme
Independent living - Medical equipment services
International
Governance costs
Subscriptions to Federation
Staff
Fees to auditors for audit of financial statements
Other
Total
The basis of allocation of support costs is described in note 1(d) and further analysis is provided in Note 5. It is not appropriate to
split support costs between direct costs and grants due to the dual role played by programme support functions.
Grant recipients
2014
Total
m
Purpose
16.5
8.0
3.4
2.9
4.6
35.4
1.0
0.5
0.6
2.1
2.5
1.7
1.4
1.0
0.9
0.7
0.6
0.6
4.1
Typhoon Haiyan
HIV Phase II
Earthquake preparedness
East Africa food crisis
Community resilience and organisational development
HIV and livelihoods activities
Cash transfer programmes
Integrated community resilience
Various
13.5
Other grants
0.3
Various
51.3
Our total resources expended includes irrecoverable VAT of 3.1m (2013: 2.8m).
2014
Total
m
2013
Total
m
Finance
Human resources
Central facilities
Management
information services
Central management
0.9
0.2
0.3
0.2
0.4
0.4
0.1
0.1
0.1
0.3
0.5
0.5
0.4
1.0
1.0
0.9
0.1
0.1
2.8
2.3
2.4
2.7
2.1
2.3
0.8
0.1
0.7
-
0.3
-
1.2
-
2.3
0.1
0.2
0.1
0.1
-
5.6
0.3
4.8
0.4
Total
2.3
1.7
0.6
2.5
4.8
1.4
0.1
13.4
12.3
Support costs have been allocated on the basis of the accounting policy set out in note 1 (d).
50 / 51
7. Restricted funds
Britcross Limited
Britcross Limited, the British Red Cross wholly owned trading subsidiary incorporated in the United Kingdom, engages in the
sale of cards and gifts as well as receiving corporate sponsorship in aid of the British Red Cross.
The income and expenditure of Britcross Limited included within the consolidated statement of financial activities are:
Income
Expenditure
2014
m
2013
m
1.6
(0.9)
1.4
(0.9)
0.7
0.5
Current assets
Current liabilities
2014
m
2013
m
1.0
(1.0)
0.7
(0.7)
Net assets
Fair value
Fair value at
adjustment 29 January 2014
m
m
1.1
0.3
Group
Total UK restricted funds
Balance 1
January
2014
m
10.0
Income
m
8.4
The net assets brought in at fair value were 1.4m and this has been accounted for as a gift and included in voluntary income in the
consolidated statement of financial activities. This is represented by a surplus of restricted income of 1.4m, which is not available for
general use.
The income and expenditure of the Bermuda Red Cross Charitable Trust included within the consolidated statement of financial activities
are:
2014
2013
m
m
Income
Expenditure
0.2
(0.1)
Net income
0.1
2014
m
2013
m
1.6
(0.1)
1.5
Transfers
m
(0.1)
Balance 31
December
2014
m
12.0
Ebola outbreak
Typhoon Haiyan
Syria and region
DFID Institutional Strategy with
Federation
Other international restricted funds
7.5
8.0
21.8
9.3
6.5
(17.5)
(9.1)
(8.8)
0.1
0.1
4.3
7.8
5.8
12.1
8.0
14.0
(8.0)
(13.6)
0.1
(0.8)
11.8
27.6
59.6
(57.0)
0.3
(0.8)
29.7
2.0
0.6
(0.5)
0.6
2.7
39.6
68.6
(63.9)
0.4
(0.3)
44.4
Disaster Fund
Total restricted funds
Expenditure plans have been agreed for all material restricted funds. Funds are held in appropriate asset categories in accordance
with planned usage.
UK restricted funds
UK restricted funds include:
>> 4.2m of properties and other tangible fixed assets held for
restricted purposes
>> a variety of local, national and European funding sources to
deliver projects over the next 2-3 years
>> legacies with a geographical and/or service restriction.
The balance of UK restricted funds is held for the provision of
locally agreed services.
1.4
1.4
Expenditure
m
(6.4)
Net
investment
gains
m
0.1
Disaster Fund
The Disaster Fund allows us to prepare for and respond to
humanitarian disasters abroad and in the UK. We fundraise
specifically for the Disaster Fund and, as stated on emergency
appeal materials, it can also contain funds donated to
emergency appeals where we raise more than can be reasonably
and efficiently spent on that specific response. In 2014, 0.6m
was transferred to the Disaster Fund from other international
restricted projects.
Charity
Charity restricted funds for 2014 are the same as above, except
they exclude 1.6m of income and 0.1m of expenditure in other
international restricted funds, representing the donation of net
assets and results of the Bermuda Red Cross Charitable Trust.
Total restricted funds for the charity as at 31 December 2014 are
42.9m (2013: 39.6m).
The assets and liabilities of the Bermuda Red Cross Charitable Trust consolidated within the balance sheet are:
Fixed assets
Current liabilities
Net assets
The fixed assets above comprise land and buildings and were valued on a market value basis by Suzanne Stones BSc. (Hons),
PGdipSurv, MRICS, R. Surv., CMCA, Chartered Valuation Surveyor, for Bermuda Realty Company Limited, independent property
valuation consultants based in Bermuda, at 2.5m Bermudian dollars, which was equivalent to 1.6m as at 31 December 2014.
52 / 53
8. Unrestricted funds
Balance 1
January
2014
m
Net
investment
Income Expenditure
gains
m
m
m
Actuarial
losses
on defined
benefit
pension
schemes
m
Balance 31
December
Transfers
2014
m
m
Group
Unrestricted funds held as tangible fixed assets
Defined benefit pension scheme fund
Free reserves
57.2
0.8
32.2
193.2
(4.9)
0.2
(188.0)
0.1
(0.5)
-
1.7
0.5
(1.9)
54.0
1.0
35.6
90.2
193.2
(192.7)
0.1
(0.5)
0.3
90.6
Fixed asset
investments
m
Current asset
investments
m
Total
m
19.2
0.5
29.1
15.0
(16.3)
-
48.3
15.0
(16.3)
0.5
19.7
27.8
47.5
19.0
27.8
46.8
Asset
class
Market value
2014
m
Market value
2013
m
Unit trusts
Unit trusts
12.6
7.1
12.1
7.1
19.7
19.2
4.7
23.1
14.0
15.1
27.8
29.1
47.5
48.3
Charity
Unrestricted funds held as tangible fixed assets
Defined benefit pension scheme fund
Free reserves
57.2
0.8
32.2
192.3
(4.9)
0.2
(187.1)
0.1
(0.5)
-
1.7
0.5
(1.9)
54.0
1.0
35.6
90.2
192.3
(191.8)
0.1
(0.5)
0.3
90.6
UK investments
BlackRock Dynamic Diversified Growth Fund
BlackRock Absolute Return Bond Fund
Current asset investments
Freehold
property
m
Total
m
At 1 January 2014
Completions
Additions
Assets of Bermuda Red Cross Charitable Trust
Disposals
48.9
0.4
1.6
(2.8)
37.6
0.1
1.1
(0.8)
49.8
0.5
2.3
(1.3)
1.6
(0.6)
0.4
-
137.9
4.2
1.6
(4.9)
At 31 December 2014
48.1
38.0
51.3
1.4
138.8
At 1 January 2014
Charge
Disposals
16.6
1.3
(1.0)
15.3
1.4
(0.4)
43.0
2.8
(1.3)
At 31 December 2014
16.9
16.3
44.5
77.7
31.2
21.7
6.8
1.4
61.1
At 31 December 2013
32.3
22.3
6.8
1.6
63.0
UK investments
Royal Bank of Scotland Global Treasury Fund
Goldman Sachs Reserves Fund
Deposits
Total
11. Stock
2014
Group
m
2013
Group
m
2014
Charity
m
2013
Charity
m
2.6
0.9
0.1
0.4
1.8
0.7
0.1
0.7
2.6
0.9
0.4
1.8
0.7
0.7
Total
4.0
3.3
3.9
3.2
Accumulated depreciation
-
74.9
5.5
(2.7)
Bank deposits
Bank deposits
Bank deposits
Charity
Charity tangible fixed assets are the same as above for all categories, except 1.6m of freehold property owned by Bermuda Red Cross
Charitable Trust, which is excluded. For the charity, total cost at 31 December 2014 is 137.2m (2013: 137.9m) and total net book
value at 31 December 2014 is 59.5m (2013: 63.0m).
54 / 55
2013
Group
m
2014
Charity
m
2013
Charity
m
Trade debtors
Accrued income
Other debtors
Prepayments
Tax recoverable
Legacies receivable
Amounts due from subsidiaries
5.8
6.1
1.1
5.3
4.9
11.4
-
4.5
4.0
1.2
3.9
6.0
12.4
-
5.8
6.0
1.1
5.3
4.9
11.4
1.1
4.5
4.0
1.2
3.9
6.0
12.4
0.7
Total
34.6
32.0
35.6
32.7
All amounts shown under debtors are receivable within one year.
2013
m
79.2
6.6
2.7
74.1
6.3
2.9
88.5
83.3
2014
2013
21
5
5
7
2
2
1
1
-
19
1
6
3
2
2
1
1
2013
m
3.2
7.6
1.4
2.2
1.8
2.0
10.8
1.0
2.1
1.7
Six (six in 2013) of the above employees have retirement benefits accruing to them under defined benefit pension schemes.
The total cost of the contributions to these defined benefit schemes made by the British Red Cross for these employees was
99,000 (2013: 96,000).
16.2
17.6
Thirty-five (27 in 2013) of the above employees are members of a defined contribution scheme. The total cost of the contributions
to this scheme made by the British Red Cross for these employees was 161,000 (2013: 128,000).
The average number of full time equivalent staff employed by the British Red Cross during
the year was as follows:
Leasehold
dilapidations
m
Total
m
1.0
(0.6)
-
2.4
(0.3)
(0.9)
3.4
(0.9)
(0.9)
At 31 December 2014
0.4
1.2
1.6
0.4
-
0.2
1.0
0.6
1.0
0.4
1.2
1.6
At 1 January 2014
Payments during the year
Amounts released during the year
Salary costs
National insurance costs
Pensions costs
2014
m
2014
m
All deferred income as at 31 December 2013 was recognised during 2014 and all deferred income as at 31 December 2014 was
deferred during the year.
Total staff costs (including casual staff) for the year were as follows:
2014
2013
In the UK
Fundraising
Retail
UK services
First aid services
International services
Other
215
593
1,628
463
95
311
209
568
1,528
447
94
292
Overseas
International services
53
62
3,358
3,200
3,935
3,731
Rehabilitation commitments relate to urban construction for the Haiti Earthquake recovery programme.
Leasehold dilapidations relate to properties where the British Red Cross has a legal responsibility as tenant for such costs.
56 / 57
16. Pensions
The average number of volunteers working for the British Red Cross
during year was as follows:
New British Red Cross staff are entitled to join the British Red Cross Group Personal Pension Plan provided by Legal & General.
Staff had previously been entitled to join the British Red Cross Pension Fund (UK Office scheme), Scottish Branch British Red
Cross Society Retirement Benefits Scheme (Scottish scheme) or The Pensions Trusts Growth Plan. These three schemes are
all closed to new entrants.
In the UK
Fundraising
Retail
UK services
First aid services
International services
Total
2014
2013
2,789
6,420
9,167
5,355
255
2,787
7,347
10,537
6,282
261
23,986
27,214
The apparent reduction in the number of volunteers reflects a changed definition to focus on those volunteers who are available for
deployment having completed their training pathways or whose training is underway. It does not include volunteers who are no longer
available for service.
Trustees expenses:
Expenses incurred by trustees and reimbursed by the British Red Cross
Expenses incurred by the British Red Cross on behalf of trustees
Trustees' indemnity insurance cover cost
2014
000
2013
000
10
23
16
17
19
17
2014
2013
16
17
Scottish
scheme
m
-
2014
Total
m
(0.2)
2013
Total
m
(0.3)
(1.0)
1.2
0.2
(0.4)
0.6
0.2
(1.4)
1.8
0.4
(1.4)
1.6
0.2
3.4
(2.8)
0.6
0.9
(1.2)
(0.3)
4.3
(4.0)
0.3
1.4
0.8
2.2
(0.8)
(0.8)
(2.5)
(0.2)
(0.3)
(0.5)
(0.3)
The current service cost will change as the members of the schemes approach retirement because the schemes are closed to
new members.
The latest triennial valuation for the Scottish scheme as at 1 January 2012 showed a deficit of 3.1m. A pension deficit recovery
plan is in place in respect of the Scottish scheme, which aims to eliminate the ongoing funding deficit by 2020. The additional
employer contributions required from the British Red Cross as part of this recovery plan are 0.4m per annum and payments
started in 2013. The British Red Cross expects to contribute 22.7 per cent per annum as a percentage of members salaries.
UK Office
scheme
m
Scottish
scheme
m
2014
Total
m
2013
Total
m
31.2
(26.3)
(4.6)
10.3
(9.6)
-
41.5
(35.9)
(4.6)
35.7
(31.3)
(3.6)
0.3
0.7
1.0
0.8
The British Red Cross has recognised the net scheme surpluses to the extent that it is considered recoverable through the future
service cost of the remaining members.
58 / 59
UK Office scheme
2014
2013
m
m
Scottish scheme
2014
2013
m
m
At 1 January
23.1
23.1
8.2
8.2
Service cost
Interest cost
Member contributions
Benefits paid
Actuarial loss / (gain) due to changes in other assumptions
Actuarial (gain) / loss due to experience
0.2
1.0
0.1
(0.9)
3.1
(0.3)
0.2
1.0
0.1
(0.8)
(0.5)
-
0.4
0.1
(0.3)
(0.2)
1.4
0.1
0.4
(0.2)
(0.2)
(0.1)
At 31 December
26.3
23.1
9.6
8.2
UK Office scheme
2014
2013
m
m
Scottish scheme
2014
2013
m
m
At 1 January
27.2
25.5
8.5
7.4
Expected return
Employer contributions
Member contributions
Benefits paid
Actuarial gain on plan assets
1.2
0.1
0.1
(0.8)
3.4
1.2
0.1
0.1
(0.8)
1.1
0.6
0.5
0.1
(0.3)
0.9
0.5
0.5
(0.2)
0.3
At 31 December
31.2
27.2
10.3
8.5
The British Red Cross expects to make employer contributions in 2014 of 0.1m for the UK Office scheme and 0.5m for the
Scottish scheme.
The major categories of plan assets as percentage of total plan assets are:
Equities
Bonds
Cash
UK Office scheme
2014
2013
40%
44%
59%
55%
1%
1%
100%
100%
Scottish scheme
2014
2013
57%
61%
43%
39%
0%
0%
100%
100%
UK Office scheme
2014
2013
4.7
2.2
Scottish scheme
2014
2013
1.4
0.7
Principal actuarial assumptions at the balance sheet date in respect of both schemes were:
Discount rate
Consumer price inflation (CPI)
Salary increases
UK Office scheme pension increases
Capped at 5.0%
Capped at 3.0%
Capped at 2.5%
Scottish scheme pension increases
Pre-1997 increases
Between 1997 and 2005 increases
Post-2005 increases
2014
3.4% pa
2.4% pa
2.4% pa
2013
4.7% pa
3.0% pa
3.0% pa
2.4% pa
2.2% pa
2.0% pa
3.0% pa
2.5% pa
2.2% pa
0.0% pa
2.4% pa
2.0% pa
0.0% pa
3.0% pa
2.2% pa
Mortality assumptions in respect of both schemes adopted at the year end imply the following life
expectancy at 65:
Pensioners: male
Pensioners: female
Non-pensioners: male
Non-pensioners: female
2014
Years
22.6
25.1
24.8
27.4
2013
Years
22.9
25.3
25.1
27.6
UK Office scheme
2014
m
2013
m
2012
m
2011
m
2010
m
(26.3)
31.2
4.9
(23.1)
27.2
4.1
(23.1)
25.5
2.4
(21.1)
25.0
3.9
(19.8)
23.0
3.2
Restriction of surplus
(4.6)
(3.6)
(1.1)
(2.1)
(1.5)
Reported surplus
0.3
0.5
1.3
1.8
1.7
Experience gains
on liabilities
on assets
0.3
3.4
1.1
0.4
0.7
1.1
Scottish scheme
History for current and previous periods:
Present value of scheme obligations
Fair value of plan assets
Surplus / (deficit)
Experience gains / (losses)
on liabilities
on assets
2014
m
2013
m
2012
m
2011
m
2010
m
(9.6)
10.3
0.7
(8.2)
8.5
0.3
(8.2)
7.4
(0.8)
(7.6)
6.5
(1.1)
(6.4)
5.8
(0.6)
0.2
0.8
0.1
0.3
0.3
(0.5)
-
0.7
0.2
Other schemes
The British Red Cross also contributes to the British Red Cross Group Personal Pension Plan and other contribution schemes
for certain employees. In 2014 the total cost of these contributions was 2.8m (2013: 2.6m) and the balance outstanding at 31
December 2014 was 0.3m (2013: 0.3m).
Staff were able to join The Pensions Trusts Growth Plan until April 2007. The Pensions Trusts Growth Plan is a multi-employer defined
benefit pension plan. The assets of the scheme are co-mingled for investment purposes and as a result it is not possible to either
break down scheme assets or analyse the ongoing funding deficit by individual employer. Accordingly, due to the nature of the plan,
the accounting charge for the year under FRS 17 represents only the employer contribution payable.
There is a contingent liability in the event that the British Red Cross were to withdraw its membership of the Pensions Trusts Growth
Plan. The Pensions Trusts Growth Plans actuaries valued the withdrawal liability at 5.4m as at 30 September 2013. This valuation
has been rolled forward, assuming actuarial assumptions and membership are consistent, to 31 December 2014 resulting in an
estimated 6.4m contingent liability (2013: 5.6m). The results of the Growth Plan scheme valuation as at 30 September 2011 show
a deficit of 148m. A recovery plan has been established which aims to eliminate the funding deficit over a period of 10 years from
April 2013. The additional employer contributions required from the British Red Cross as part of this recovery plan are 0.3m per
annum. The British Red Cross expects to contribute 1% per annum as a percentage of members salaries.
The British Red Cross and the Order of St John were formerly jointly liable for the pension liabilities of the Joint Committee of the
Order of St John of Jerusalem and British Red Cross Society (Joint Committee). The Joint Committee withdrew from the scheme
in January 2013, when the withdrawal liability, and the British Red Cross share of that liability, were estimated at 2.1m and 0.5m
respectively. The British Red Cross settled its share during 2013. The subsequent implementation of the Pensions Act 2011 has
resulted in a possible change to the basis of calculation of the withdrawal liability and the British Red Cross share of that liability which
may result in an additional 0.4m becoming payable by the British Red Cross. Discussions are ongoing with relevant authorities with a
view to concluding the matter.
60 / 61
Other
m
2014
Total
m
2013
Total
m
0.4
2.1
3.2
0.4
1.3
-
0.8
3.4
3.2
0.7
3.1
3.0
Total
5.7
1.7
7.4
6.8
At 1
January
2014
m
Cash flow
m
At 31
December
2014
m
3.7
(0.3)
29.1
1.2
(1.3)
4.9
(0.3)
27.8
Total
32.5
(0.1)
32.4
Operating lease charges during 2014 were 6.2m for property and 1.8m for plant and machinery.
The British Red Cross regularly pledges support to programmes led by the International Federation of Red Cross and Red Crescent
Societies (IFRC), International Committee of the Red Cross (ICRC) or other National Societies. In addition to the expenditure
recognised in the financial statements, the British Red Cross had outstanding pledges to the programmes disclosed below.
Full payment of the pledges is contingent on the outcome of British Red Cross reviews of the programmes and therefore the liability
has not been recognised at the year end.
At 31 December 2014, the British Red Cross had commitments to buy 0.4m Euros in foreign exchange forward contracts, with
an unrealised loss of 2,000 (2013: nil).
2013
m
5.1
1.2
1.0
0.6
0.6
0.6
0.6
0.4
0.4
1.2
2.7
0.7
0.6
1.5
0.8
0.9
11.7
7.2
Restricted
m
2014
Total
m
2013
Total
m
54.0
36.8
(1.2)
1.0
7.1
19.7
18.3
(0.3)
(0.4)
-
61.1
19.7
55.1
(0.3)
(1.6)
1.0
63.0
19.2
50.5
(0.3)
(3.4)
0.8
Net assets
90.6
44.4
135.0
129.8
Unrestricted
m
Restricted
m
2014
Total
m
2013
Total
m
54.0
36.8
(1.2)
1.0
5.5
19.7
18.4
(0.3)
(0.4)
-
59.5
19.7
55.2
(0.3)
(1.6)
1.0
63.0
19.2
50.5
(0.3)
(3.4)
0.8
Net assets
90.6
42.9
133.5
129.8
Group
At 31 December 2014, the British Red Cross had commitments to buy 2.9m US dollars in foreign exchange forward contracts,
with no unrealised gain or loss (2013: commitments to buy 0.9m US dollars in foreign exchange forward contracts, with an
unrealised loss of 14,000).
At 31 December 2014, the British Red Cross had commitments to buy 20.4m South African rand in foreign exchange forward
contracts, with an unrealised gain of 5,000 (2013: commitments to buy 3.1m South African rand in foreign exchange forward
contracts, with an unrealised loss of 11,000).
2014
m
Charity
There were no material transactions with related parties during the year (2013: none).
62 / 63
Purpose of grant
Balance 1
January
2014
000
Balance 31
December
Income Expenditure
2014
000
000
000
48
3
10
17
37
8
27
90
248
17
104
57
106
94
(89)
(3)
(227)
(27)
(97)
(63)
(80)
(8)
(85)
49
21
7
11
63
36
30
23
21
17
102
96
106
1
53
(113)
(91)
(100)
(1)
(64)
19
28
27
6
(7)
(6)
>> > Cabinet Office (Office for Civil Society) and the Tripartite Group - Supporting Older People and Reducing Pressure on Hospitals Fund - 19,216
>>> Cabinet Office Centre for Social Action - Carers Social Action Support Fund - 28,932
64 / 65
Thank you
The British Red Cross would like to thank every individual
and organisation who supported our work in 2014.
They responded with great compassion and speed during emergencies as well as
maintaining our ongoing work in the UK and overseas. We would particularly like to
thank all those who support us regularly, enabling us to plan ahead with confidence.
We remember with gratitude the generosity of donors who left gifts to us in their
wills. We would also like to thank all our local fundraising committees and volunteers
for their hard work.
66 / 67
Email production@redcross.org.uk
Tel 020 7877 7029