**REGISTERED CHARITY NUMBER: 1039484**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FOR**
**BOOK AID**
Berringers LLP Lygon House 50 London Road Bromley Kent BR1 3RA
## **BOOK AID**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2020**
|||**Page**||
|---|---|---|---|
|**Reference and administrative details**||1||
|**Report of the trustees**|2|to|4|
|**Independent examiner's report**||5||
|**Statement of financial activities**||6||
|**Balance sheet**||7||
|**Notes to the financial statements**|8|to|14|
## **BOOK AID**
**REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 December 2020**
|**TRUSTEES**|A Quinney|
|---|---|
||R Bradshaw|
||Mrs S Bonwick|
|**PRINCIPAL ADDRESS**|Bromley House|
||Kangley Bridge Road|
||Sydenham|
||London|
||SE26 5AQ|
|**REGISTERED CHARITY NUMBER**|1039484|
|**INDEPENDENT EXAMINER**|Berringers LLP|
||Lygon House|
||50 London Road|
||Bromley|
||Kent|
||BR1 3RA|
Page 1
## **BOOK AID**
## **REPORT OF THE TRUSTEES for the year ended 31 December 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
As stated in the Declaration of Trust, the objectives of the charity are the advancement of the Christian religion, the advancement for the public benefit of religious or other education and the relief of the aged, poor, sick or disabled.
Book Aid's main work is to send second hand and some new books to overseas Christian Bookshops to help them keep a Christian presence in their countries and to allow the advancement of the Christian faith by selling books at locally affordable prices. This helps to make books available more widely and to advance the Christian religion. Contacts have been established overseas by the Trustees over many years for the books to be sent out and distributed to Christian Bookshops in a number of countries.
Book Aid also meets its aims and objectives by selling books in the UK through its bookshops and online using the same principles: that they are sold at locally affordable prices.
## **Significant activities**
In 2020 there were four main centres operating throughout the United Kingdom: in London, Ranskill (Notts), Barnard Castle and Northern Ireland. The Warrington centre closed in February 2020. In each of these centres books, which are not suitable for overseas, are sold in second-hand bookshops and on-line to aid general expenses and shipping costs. There are 3 warehouses - in London, Ranskill and Templepatrick, NI. A network of local and regional volunteer collectors nationwide act as links between donors and the Trust.
## **Public benefit**
The Trustees have had regard to the Charity Commission guidance on public benefit and consider that the objectives, aims and achievements of the charity described in the report enable it meet its duty to the Charity Commission as per Section 17 of the Charities Act 2011 and to the benefit of the public.
## **Volunteers**
The work of the Charity would not be possible without the support of hardworking and committed volunteers. Volunteers in the UK provide the backbone to the work by collecting in books across the UK, drivers who bring books into Book Aid warehouses and those who run the Barnard Castle and Northern Ireland bases entirely on a voluntary basis. Their contribution to the work is outstanding and invaluable. Others commit to financially supporting the work of the Trust and praying for it.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Trust continues to prosper through the generous support of the public in the UK, who are encouraged by reports of the benefits received by other countries. An increasing number of UK Christian bookshops are closing down and Book Aid has been grateful to receive their closing stock to re-use for its programme. Another increasing source of books continues to be the libraries of retiring ministers. There is a great demand from the public for ways to recycle their books and the Charity helps meets that demand from the public. With the ongoing help of these concerned and generous people in the UK the Charity is able to help needs across the world and in the UK by providing good quality Christian books and Bibles at locally affordable prices.
During 2020 the world was severely affected by Covid-19 and this had a huge impact on the work of Book Aid. In spite of this 4 containers with up to 400,000 selected and suitable books were dispatched to Kenya and to Nigeria during breaks in UK lockdowns. Both containers were successfully delivered to the Book Aid partners. Books shipped out are in the form of direct grants or donations, plus free shipment, worth £19,319 for the year.
The Trustees are grateful to supporters and donors in the United Kingdom for their continued identification with the Trust, which helps fulfil the purposes of Book Aid Charitable Trust.
Page 2
## **BOOK AID**
## **REPORT OF THE TRUSTEES for the year ended 31 December 2020**
## **FINANCIAL REVIEW**
## **Financial position**
The financial statements show a surplus of £37,037 compared to £1,593 in 2019. A major contributing factor to this was from receiving government grants totalling £47,546 in response to the covid pandemic. The total net assets of the Trust now stand at £1,329,589 compared to £1,292,552 in 2019. Donations and sales of books in the year have both decreased slightly from the previous year.
## **Reserves policy and loan**
The Trust hold reserves as shown in the financial statements for the purpose of fulfilling the objectives of the Trust, and the Trustees have discretion as to the value to be retained. The Trustees consider a reserves policy of £36,000 is an appropriate level. It is considered that there sufficient reserves to ensure that the charity fulfils its objectives in the foreseeable future and meets its financial obligations.
## **FUTURE PLANS**
2021 started with a third lockdown within days of the New Year. At the same time Book Aid received a report on part of the warehouse at Ranskill that required an entire wall to be removed and replaced. This was all carried out within a matter of weeks thanks to the funds being available and the premises being closed during the lockdown.
As the world situation changes and uncertainty about the future features in many aspects of life, Book Aid is rethinking how the purposes of the Trust may need to adapt to meet the times ahead. The work continues to expand in the UK with the addition of a partnership with Kings Church in Aberdeen. Book Aid has been invited to use some of their extensive premises as a collection point and this is now functioning. As shipping continues to be disrupted new ways of fulfilling Book Aid's purposes internationally are being explored. Through the 'Spreading the Word' campaign Book Aid is collecting in more Bibles and has supported projects to pay for Bible printing in West Africa. By funding projects to provide Bibles in African countries will reduce the need to ship so many books around the world. Book Aid is ready to sell more in the UK if this will provide funds to support provision of Bibles in Africa. Book Aid also aims to maintain the overseas donations of books in the next year if this is possible with the disruption to global shipping..
There will be financial pressure as the Government reduces its support and the end of 2021 will become more challenging. The lease on the London premises is due to end and wisdom is needed about future use of Charity property. The Trust will continue to consider ways to increase the financial income to meet the rising costs the ministry faces on a daily basis so that the huge task of sorting so many books can be shared by an increase in staff in due course
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
Continued consideration is given at Trustees Meetings to the appointment of new Trustees. The Trust seeks to appoint new trustees who are known to the Charity and who understand and accept the vision of the founders.
## **Organisational structure**
The trustees have legal responsibility for the Charity. They have appointed a Director, Mrs Christine Pulsford a former solicitor to manage the Charity. The Trust currently employs 12 part-time members of staff (5.4 FTE). These include a Warehouse Manager in London, a Manager in Ranskill, an Online Sales Bookseller, a Finance Manager, a Project Manager and a PA who report to the Director. The work is supported by a large team of volunteers.
## **Key management remuneration**
No member of staff received remuneration in excess of £60,000.
Page 3
## **BOOK AID**
## **REPORT OF THE TRUSTEES for the year ended 31 December 2020**
## **REVIEW OF 2020**
At the beginning of 2020 the Charity renewed its vision for the future. Following some years of succession and consolidation the aim for the future was to develop new partnerships overseas in poorer or less well-resourced situations in addition to those partnerships which were well established. Immediately before the UK's first COVID lockdown in March 2020 some approaches had been received from African countries where Book Aid was not currently working. Plans to develop these partnerships were put on hold during the year as a result of the pandemic.
The Warrington shop was emptied with help from some indefatigable volunteers and the lease terminated in February 2020. All the books were transferred to the Ranskill warehouse for processing.
## COVID 19
In January 2020 the Trust received unexpected income from a variety of sources totalling £30,000 which placed the Charity in a good financial position when COVID 19 emerged in the UK some weeks later. With help from government grants for the retail sector and the Job Retention Scheme the Charity withstood the disruption. It has been able to sell books online throughout the pandemic and online sales increased significantly. All the Charity's premises were closed from March to July except the Ranskill warehouse which houses the online sales and was able to continue operating by selling books online and thereby securing income.
## SHIPPING
In the week before the first UK lockdown the Charity shipped 2 containers, to partners in Kenya and Nigeria, both of which thankfully arrived safely in spite of the pandemic. The team worked fast in September and October and immediately before the second lockdown in a last window of opportunity for the year was able to ship out 2 more containers to Kenya and Ghana. This was a remarkable achievement in the circumstances.
## PROPERTY MATTERS
As the situation eased in the summer of 2020 Book Aid resumed work on a limited basis. A decision was made to bring the Northern Ireland Book Aid van to London for financial benefit and to fulfil a need in another window of opportunity, this was organised with help from the team in Belfast. The periods of closure were used to deal with longstanding property matters in London. Replacement windows, lighting and kitchen were installed. A new boiler was needed in Ranskill. Expansion of the online sales was implemented and changes to the Ranskill warehouse were made to accommodate more books being sold online.
The main on-going activity and aims of the Trust are to continue to receive and prepare books for donation to those in need. The Charity saw a huge increase in the supply of books as a result of people having time to sort out their books while in lockdowns.
Approved by order of the board of trustees on 11 October 2021 and signed on its behalf by:
A Quinney - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOOK AID**
## **Independent examiner's report to the trustees of Book Aid**
I report to the charity trustees on my examination of the accounts of Book Aid (the Trust) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of _ which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Allan BSocSc FCA Berringers LLP Lygon House 50 London Road Bromley Kent BR1 3RA
11 October 2021
Page 5
## **BOOK AID**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Sale of books
2
Rent & interest received
3
Other income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Sale of books
Online sales costs
Other
8
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**36,867**
**149,738**
**36,066**
**47,546**
**270,217**
**161,976**
**15,789**
**54,503**
**232,268**
**37,949**
**1,285,552**
**1,323,501**|Restricted
funds
£
**21,355**
**-**
**-**
**-**
**21,355**
**20,817**
**-**
**1,450**
**22,267**
**(912)**
**7,000**
**6,088**|**2020**
**Total**
**funds**
**£**
**58,222**
**149,738**
**36,066**
**47,546**
**291,572**
**182,793**
**15,789**
**55,953**
**254,535**
**37,037**
**1,292,552**
**1,329,589**|2019
Total
funds
£
64,544
150,117
36,105
-|
|---|---|---|---|---|
|||||250,766
170,943
15,042
63,188|
|||||249,173|
|||||1,593
1,290,959|
|||||1,292,552|
The notes form part of these financial statements
Page 6
## **BOOK AID**
## **BALANCE SHEET 31 December 2020**
|Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**1,207,433**
**16,480**
**106,840**
**123,320**
**(7,252)**
**116,068**
**1,323,501**
**1,323,501**|Restricted
funds
£
**-**
**-**
**7,698**
**7,698**
**(1,610)**
**6,088**
**6,088**
**6,088**|**2020**
**Total**
**funds**
**£**
**1,207,433**
**16,480**
**114,538**
**131,018**
**(8,862)**
**122,156**
**1,329,589**
**1,329,589**
**1,323,501**
**6,088**
**1,329,589**|2019
Total
funds
£
1,206,849
13,028
83,678
96,706
(11,003)
85,703
1,292,552
1,292,552
1,285,552
7,000
1,292,552|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2021 and were signed on its behalf by:
A Quinney - Trustee
R Bradshaw - Trustee
The notes form part of these financial statements
Page 7
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance Motor vehicles - 25% on reducing balance Office equipment - 20% on reducing balance
The freehold properties have not been deprecated, as they are maintained to a standard that, in the opinion of the trustees, precludes the need to provide depreciation. This departure from accounting standards is deemed necessary for a true and fair representation of the properties in the financial statements.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the period of the lease.
continued...
Page 8
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **2. SALE OF BOOKS**
|**2.**
**SALE OF BOOKS**||||
|---|---|---|---|
|Book sales
**3.**
**RENT & INTEREST RECEIVED**
Rents received
Deposit account interest|**2020**
**£**
**149,738**
**2020**
**£**
**36,000**
**66**
**36,066**|2019
£
150,117||
||||2019
£
36,000
105|
||||36,105|
## **4. OTHER INCOME**
Other income is made up of grants received from the Government's Job Retention Scheme totalling £24,577 and local council grants totalling £22,969 in response to the Covid pandemic.
## **5. CHARITABLE ACTIVITIES COSTS**
|Sale of books
Online sales costs
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Postage & stationery
Shipping costs
Amazon & Paypal fees
Donations
Bible purchases|Direct
Costs (see
note 6)
£
**182,793**
**15,789**
**198,582**
**2020**
2019
**£**
£
**150,867**
142,047
**24,194**
20,038
**6,620**
8,358
**15,789**
15,042
**200**
500
**912**
-
**198,582**
185,985|Direct
Costs (see
note 6)
£
**182,793**
**15,789**
**198,582**
**2020**
2019
**£**
£
**150,867**
142,047
**24,194**
20,038
**6,620**
8,358
**15,789**
15,042
**200**
500
**912**
-
**198,582**
185,985|
|---|---|---|
|||**198,582**|
|||2019
£
142,047
20,038
8,358
15,042
500
-|
|||185,985|
## **6. DIRECT COSTS OF CHARITABLE ACTIVITIES**
continued...
Page 9
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **7. SUPPORT COSTS**
## **8.**
|Other resources expended
Support costs, included in the above, are as follows:
**General support**
Rent
Rates & water
Insurance
Light & heat
Telephone
Motor & travel
Maintenance & repairs
Bank charges
Legal & professional fees
Office costs
Depreciation of tangible and heritage assets
Loss on sale of tangible fixed assets
**Governance costs**
Independent examiner
**OTHER**
Support costs|General
Governance
support
costs
Totals
£
£
£
**52,978**
**2,975**
**55,953**
**2020**
2019
Other
resources
Total
expended
activities
**£**
£
**4,810**
**4,839**
**(2,415)**
**11,073**
**3,571**
**3,423**
**3,453**
**6,116**
**2,354**
**3,552**
**11,605**
**17,697**
**19,273**
**6,959**
**272**
**350**
**1,920**
**370**
**6,174**
**3,768**
**1,908**
**1,816**
**53**
**-**
**52,978**
**59,963**
**2020**
2019
Other
resources
Total
expended
activities
**£**
£
**2,975**
**3,225**
**2020**
2019
**£**
£
**55,953**
63,188|Totals
£
**55,953**|
|---|---|---|
continued...
Page 10
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **10. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Staff
No employees received emoluments in excess of £60,000.|**2020**
**12**|2019
12|
|---|---|---|
||||
The trust employs 12 part time staff which is equivalent to 5.4 full time employees.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2020
Additions
Disposals
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
Eliminated on disposal
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|Freehold
property
£
**1,200,000**
**-**
**-**
**1,200,000**
**-**
**-**
**-**
**-**
**1,200,000**
1,200,000|Fixtures
and
fittings
£
**21,670**
**254**
**-**
**21,924**
**18,321**
**720**
**-**
**19,041**
**2,883**
3,349|Motor
vehicles
£
**16,146**
**-**
**(8,196)**
**7,950**
**14,887**
**199**
**(7,734)**
**7,352**
**598**
1,259|Office
equipment
£
**13,096**
**2,700**
**-**
**15,796**
**10,855**
**989**
**-**
**11,844**
**3,952**
2,241|Totals
£
**1,250,912**
**2,954**
**(8,196)**
**1,245,670**
**44,063**
**1,908**
**(7,734)**
**38,237**
**1,207,433**
1,206,849|
|---|---|---|---|---|---|
The property at Ranskill was revalued in February 2016 by PD White MRICS of Brom & Co at a value of £200,000, and the property at Kangley Bridge Road was revalued in September 2016 by JA Byrne Bsc (Hons) MRICS of Howell Brooks at a value of £1 million.
The original cost of the properties above is £859,546.
continued...
Page 11
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
Prepayments
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**14.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Bibles
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Bibles
Overseas distribution
**TOTAL FUNDS**|At 1.1.20
£
**1,285,552**
**7,000**
**1,292,552**
Incoming
resources
£
**270,217**
**1,450**
**19,905**
**21,355**
**291,572**||**2020**
**£**
**15,306**
**1,174**
**16,480**
**2020**
**£**
**2,054**
**6,808**
**8,862**
Net
movement
in funds
£
**37,949**
**(912)**
**37,037**
Resources
expended
£
**(232,268)**
**(2,362)**
**(19,905)**
**(22,267)**
**(254,535)**|2019
£
11,905
1,123
13,028
2019
£
1,784
9,219
11,003
At
31.12.20
£
**1,323,501**
**6,088**
**1,329,589**
Movement
in funds
£
**37,949**
**(912)**
**-**
**(912)**
**37,037**|
|---|---|---|---|---|
||||||
||||||
continued...
Page 12
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.19
£
**Unrestricted funds**
General fund
1,283,959
**Restricted funds**
Bibles
7,000
**TOTAL FUNDS**
1,290,959
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
230,435
**Restricted funds**
Bibles
890
Overseas distribution
19,441
20,331
**TOTAL FUNDS**
250,766||Net
movement
in funds
£
1,593
-
1,593
Resources
expended
£
(228,842)
(890)
(19,441)
(20,331)
(249,173)|At
31.12.19
£
1,285,552
7,000|At
31.12.19
£
1,285,552
7,000|
|---|---|---|---|---|
||||1,292,552||
||||Movement
in funds
£
1,593
-
-
-
1,593||
|||||-|
|||||1,593|
The Bible fund is where donations have been received specifically to purchase Bibles to send overseas. The overseas distribution fund is where donations were received specifically towards the costs associated with the overseas distribution. One of these funds was fully utilised in the year.
## **15. CONTINGENT LIABILITIES**
Until 5 April 2015 some Book Aid members, including members who were also trustee received financial support from the Trust to cover accommodation costs. All members, including former trustees voluntarily dedicated their working life to the Trust. The Trustee Board was replaced in December 2014. None of the current trustees receive any financial support.
There is a very remote possibility that HMRC may challenge the treatment of these donations, and argue that they should be treated as remuneration. It is unlikely, but if this was the case, the Trust could be liable for any PAYE and national insurance due on these payments to volunteers. The amount of such liability cannot be quantified as it is not currently possible to estimate what, if anything, HMRC could consider remuneration.
continued...
Page 13
## **BOOK AID**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020**
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2020.
Page 14