Chief Executive’s Strategic Report


BUSINESS REVIEW This year has been dominated by the pandemic but overlaid with many other matters, including Brexit and our digital transformation project. I am extremely pleased to report that the closing financial position for the year is considerably more positive than we had initially feared.


The imposition of lockdown restrictions in March 2020 required an immediate and radical change to every aspect of our operations. Conferences and events were cancelled, most buildings closed, and adaptions made to certification and related requirements. We accessed all available Government and sector support schemes, and encouraged clubs to do the same. Ultimately, we were able to maintain or improve service levels at this critical time while keeping everybody safe.


In the following months, as the pandemic evolved we had to consider other events, such as our attendance at the Southampton Boat Show, our AGM and the RYA Dinghy Show, due to be held at its new location of Farnborough for the first time in early 2021.


While we were fortunate that the lifting of some restrictions meant certain domestic activity could take place over the summer months, the global impact on our commercial income has been severe. This was compounded by further lockdowns in the UK. These losses were mitigated, in part, by the early decisions we made regarding staffing, the cancellation of events and activity and the savings that were made due to this and our inability to travel and meet in person.


The Board maintained its commitment to our digital transformation project, a bold step in our new online direction, with additional financial backing from UK Sport. In common with other businesses we have had to adapt the way we trade with individuals and corporations within the EU to face the challenges posed by Brexit. We have also had to assess the impact on our elite sailors, instructors and members, providing support and guidance to interpret changes in legislation.


You will read in the following pages that, despite the crisis, we have never had more engagement with our members and stakeholders, using a variety of platforms, and our partnerships with other organisations within the maritime and sporting sector have never been more relevant. We have demonstrated our value to our members and wider RYA family over the last 12 months more than I thought possible and I would like to thank each and every person who contributed.


PRINCIPAL RISKS AND UNCERTAINTIES Having committed to what was considered a significant, but necessary, investment in our digital estate, we have faced an unexpected level of challenge in delivering the initial results that we had planned for. It is imperative that once the initial bugs are resolved we leverage this investment to enable processing efficiencies and increase member engagement.


The risks arising from the pandemic remain. Our commercial operation is a global one and it is uncertain what level of financial disruption may follow as countries and economies recover. We have seen unprecedented levels of activity at times during the last 12 months, but these need to be sustained and converted into longer term levels of participation within our clubs and training centres.


Our training centres and members have been impacted by Brexit in different ways from those we had envisaged. More regional restrictions have come to the fore, alongside the expected EU changes, such as limits to the time our sailors and instructors can spend working and training within the EU. Our reach and influence will be diminished if we are unable to make a positive difference for our key stakeholders in light of these challenges.


There are items within our accounts that are influenced by external factors, such as our property and final salary pension scheme valuations. These have fared well this year, but as we position ourselves for the future these will require careful management.


RYA ANNUAL REPORT AND ACCOUNTS 2021 5 £6.9m MEMBERS’ FUNDS 12,000


RYA VIRTUAL DINGHY SHOW LOGINS


8m


PEOPLE TOOK PART IN WATERSPORTS


50th


ANNIVERSARY OF RYA TRAINING


103,868 INDIVIDUAL MEMBERS


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