REGISTERED CHARITY NUMBER: 1039484 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMEWTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR BOOK AID Berringers LLP Lygon House 50 London Road Bromley Kent BRI 3BA
BOOK AID COI¥TENfs QF THE FINANCIAL STATEMENTS for the year ended 31 December 21J24 Page Referenc¢ and administrative d¢tsil$ Report of the trnstees 2 to 5 Indepefjdent ¢xamlner'8 report ststement of financlal activitlL4 Balance sheet Notes to th¢ flnanclal ststsmtnts 9 to 15
BOOK AID REFERENCE AND ADMtNISTRATIVE DETAILS for the year ended 31 December 2024 TRUSTEES A Quinney R Bradshaw Mrs S Bonwick Dr P Bellingham A Paddo¢k PRINCIPAL ADDRESS Bromley House Kangley Bridge Ro&d Sydenham London SE26 5AQ REGISTERED CHARITY NUMBER 1039484 INDEPENDENT EXAMINER BeingerS LLP Lygon House 50 London Road Bromley Kent BRI 3BA Page I
BOOK AID REPORT OF THE TRUSTEES for the year ended 31 December 2024 The trustees present their report with the flnancial staternents of the charity for the year ended 31 December 2024. The truste&s have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prewaring their accounts in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republio of Ireland (FRS 102) (effective l January 2019). OWEcfivES AND ACTIVITIES Objectives and Alms As stated in the Declaration of Tru5L the objectives of the chv4rity are the advancement of the Christian religion, the advanGement for the public benefit of religious or other education and the relief of the aged, poor, sick or disabled. Book Aid's main work 15 to send second hand at]d some new books Éo overseas Christian Bookshops to help them keep a Christian prescn¢e 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 est&blished overseas by the Trustees over many years for the books to be sent out and distributed to Christi¥n Bookshops in a number of countries. cUentlY the majority of partsiers are in Afri¢a. Book Aid also meets its aims and objectives by selling books in the UK through its books1pS and online using the same prinGipl¢ that they are sold at locally affordable prices, Slgnificant aclivities At the stRrt of 2024 there were four main centres operating throughout the Unitrd Kingdom: in London, Ranskill (Notts), Barnard Castle and Northern Ireland. The Ranskill centre was closed in 2024. In these centres books are sold i srfond-hand bookthL)ps and on-line to aid general cxpense5 and shipping costs as wL.11 &8 meeting ihe Charity's pUoSe$ in the UK. Ihere are 3 warehouses - in Londo Ranskill (Notts) And Templ¢patricK NI. A network of locaL and regional volunteer collectors nationwide acts as links betw¢en donors and the Trust. Publlc benefit The Trus*tss have had regard to the Charity Commission guidance on public knefit and Consider that the objectives. aims and achievements of the charity described in the report enable it meet its duty to th¢ 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 dedicAt¢d and Committed voluntcers. Volunteers in the UK provide the backbone to the work by acting as collection points for donated books rOsS thc UK, or drivers who bring book8 into Book Aid warehouse8. or those who sort the bonks in-house and those who run the Barnard Castle and Northern Ireland bases entirely on a voluiitary basis. Their contribution to the work 15 Outstandimg and invaluable. Others commit to financially supporting the work of the Trust and prayin8 for it. Page 2
BOOK AID REPORT OF THE TRUSTEES for the year ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Charitable 2ttiviÉies An ever-increasing number of UK Christian bookshops are closing down, and Book Aid has been gr&tefvl to Continue to receive some of their closing stock and bookshelves to re-use for its programme. Book Aid is approached regularly to asslst in these situations. Another increasing source of books continues to be the librdri¢s of retiring or deceased ministers. There is a great detnand from the public for ways to recycle their Christian books and Bibles and the Charity helps meets that demand from the public. Many donors are deeply grateful at having found a way to recycle go( qualty books that would otheIse have been thrown away. Every week ions of book donations are received by the Charity. As a result of these donations in the UK the Charity is able to help needs across the world, and in the UK as well, by providing good qualty Christian books and Bibles at loclY affordable prices. During 2024 Book Aid was able to dispatch 2 shipping containers fjjll of selected and 5uitsble books to partners in. Books shipped out are in the form of direct grants or donations, plus free shipment. worth £5.000 for the year. In addition to these large donations of books Book Aid has pioneered new ways of engaging with partners in Nigeria and Kenya. Theology books have again been selected from Book Aid'8 Northem treland base and shipp¢d by the pall¢t in Cowordination with 2 other charities. The Trustees are grateful to supporters and donors in the United Kingdom for their continued identification with the TrusL which helps fijlfil the purposes of Book Aid Charitsble Trust. FINANCIAL REVIEW FinanciAI position Th¢ financial .8latements show a 8urplu8 of £344,449 including Ilie revaluation of the properties. The total net assets of the Trust TIOW stand at £1,610,087 comp¢ircd to £1,265,638 in 2023. Whilst the Charity was not in doubt as to its ability to Continue as a going concern because of the Capital position. the downtum in cash flow was serious and 2024 continued an ur8ent focus on the Charity's ability to stabilise financially, Reserves policy The Trust holds reserves as shown in the financial statements for the purpose of fulfilling the objectives of the TrusL and the Trustees have discretion a$ to the value to be retained, During 2023 the Trustees had to make serious decisions about the Chhrity's financial position, and this included approving the use of the Charity's reserves to restru¢ture the UK wort(. The reserves were needgj to start implementing Phase l of the restructure which continued through to the middle of 2024. There were no cash reserves at the point of the sale of the Ranskill shop which came just in lime, Page 3
BOOK AID REPORT OF THE TRUSTEES for the year ended 31 December 2024 FINANCIAL REVIEW REVIEW OF 2024 URGENT ACTION AND RESTRUCTURE In early 2024 the remaining Ranskill redundancies were completed following stage l of the Restwcturing Programme to reduce overheads. A buyer had been found for the Ranskill property in late 2023, but the sale of the Ranskill propety did not proceed to completion and a new buyer was sOut in February. The new buyer wanted only the shop and not the warehouse, so a decision was made to split the propety and retain the warehouse. That sale completed in the second half of the year with the approval of the Charity's Surveyor. The completion released the nece&8ary funds for Book Aid to restore th¢ cash flow for the immediate tUre and tt also had the ben¢fit of enabling the online stock stored in the warehouse to remain active, albeit at a much reduced level. The first half of 2024 was focussed OD moving out of the Ranskill shop and transfeil]g m{Y pallets of stock to storage, offered freely to the Charity, in Swindon. Throughout this period books continued to bc dundted from all over the UK and this created a large backlog of stock. Onlinc sales were maintained as best as the Charity could with the remaininby staff for as long as was possible. This iequired a lot of effort and energy from the small staff team and other volunteers who rallied to assist, with many miles being covered and many boxes needing to be packed and transported. The costs of moving were not insi&Fnificant. Work had to be ¢arried out in Ran5kill to separate the property and these costy were higher than anticipated due to the rapidly increasfftng costs of labour and materials. OVERSEAS WORK The container shipments were only able to resume in th¢ second half of the year when staff were able to refocus efforts towards Shipments. The charity was then able to ship 2 containers. Both containers w¢nt to Kenya to the well-establishcd Partner who was able to work in ronjunction with the UK team. This was a very satisfactory end to the year and over 40,000 selected books left the UK to fulfil the mission's purposes in spite of the challenges of the FUTURE PLANS By the end of 2024 it was necessary to start Restructuring Phase 2 to avert a similar cash flow crisis. More radical ¢hange was necessary to secure the future of the Charity fmancially and at the bcginning of 2025 the Thistees resolved to seek a buyer for the London property to release a substantial amount of capital assets. The propety was sol completing in August 2025, with the charity being able to remain in the propcrty until the end of Oct 2025. The London bookshop was closed in April and virtually all the books (approx. 40,000) were packed and shipped lo 2 partners by the middle of September 2025. Another 3 containers were dispitchcd during 2025 which was a remarkable achi¢vem¢nt amidst so much change. Work continued in Ranskill to install facilities for staff in th¢ remaining warehouse, and the separation of utilities. With the sale of the London Headquarters progressing more extensive warehouse accornmodation was sought in that r¢gion. Currently plans to purchase one are under way n¢ar Ranskill - a propety that is bigger than the London premises and more up-to-date. Looking ahead the Charity will be making major efforts to recover the online sales, the updating of all IT equipment 18 needed in October 2025 and overhaul of the Charity's systern5 are part of Phase 3 of the restructuring plan. The Chlty Continues to have good establishcd relationships with a number of vverseas partner5 and works to maintain those relationships. The L'harity will bc sccking to extend th¢s¢ partn¢rships in 2026. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing dfjcument The charity is controlled by tts governing documenL a deed of trust and con8titutes an unincorporated charity. Page 4
BOOK AID REPORT OF THE TRUSTEES for the year ended 31 December 21J24 STRUCTURE, GOVERNANCE AND MANAGEMENT Recrnitment aDd appointmeDt of new trustees Continued consideration is given at Trustee5 Meetings to the appointment of new Trustees. The Trust seeks to appoint new trustees who are known to the Charity and who understand and a¢cept the vision of the founders. The latsst trustee ppointhient was 2022 to bring increased financial oversight to the Board. Organl$ational $trn¢ture The trustees have legal responsibility for the Clwity. They have appointed a Director, Mrs Christine Pulsford a former solicitor to manage the Charity. The TNst current]y employs 13 members of staff (7,1 FfE). These include an Operations Director, a Warehouse Manager and team in London, Online Salw team, a Fijwice Manager and acwunts kn and a PA to the Director. The work 15 SUPWrted by a large team of volunteers. Key management remuneratlon No mernb¢r of staff receiva rcmuneration in ¢x¢ess of £60,0(M). It....l.9... 202g Approved by order ofthe board of trustees on ... ... .. . and SI}ed on its behalf by: A QUiTeY - Trustee Pag¢ 5
IIWEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOOK AID Independent examiner s report to the trustees of Book Aid I report to the charity trustees on my examination of the oUnt$ of Book Aid (the Trust) for the year ended 31 December 2024. Responsibllities and basRs of report As the charity trnstees 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 respe of Tny examination of the Trust's accounts carried out under Section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5Xb) of the ACL Independent examiner's statement I have completed my examination. I confirni that no material matte[3 have come to my attention in conT]¢thion with the ¢xaminatiott giving me cause to believe that in any material respect,. aecounting records Were not kept in resp¢¢t ofthe Trust as required by Section 130 of the Act, or the accounts do not accord with those records. or the accounts do not Coniply with the applicable requir¢ments conceming the form and content of accounts set out in the Charitie5 (Accounts and R¢ports) Regulations 2008 other than any requirement that th¢ accounts giv¢ a true and fair view which is not a matter considered as part of an independent examination. I have no ¢oncems 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 propcr understanding of the accounts to be reaclied. Paul Allan Bsocsc FCA The Institute of Charterj Accountants in England and Wales Berringet3 LLP Lygon House 50 London Road Bromley Kent BRI 3RA Date.. Page 6
BOOK AfD STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024 2024 Total nds 2023 Totsl funds Unrestricted nd Restricted fijnds Notes INCOME AIYD ENDOWMENTS FROM Donations and lega¢ie5 3S138 33,612 68,750 64,382 Sale of books Rent& interest received 117,732 47,588 117,732 47,588 170,112 48,174 Tot81 200,458 612 234,070 282,668 EXPENDllURE ON Charltable activitles Sale of books Online sales costs 20S,074 33,612 238,686 248,283 22,738 Other 50,935 50,935 74,236 Totsl 256,009 33,612 289,621 345,257 NET llYCOMEI{EXPENDITURE) Other recognlsed g•in¥l(losses) Gains on maluation of fixed assets (55,551) (S551) (62,589) 400,000 41Xb.(100 N¢t movernent in fund$ 344,449 344,449 (62,589) RECONCILIATION OF FifNDS Total funds brought forward 1,265,638 1,265,638 1,328,227 TOTAL FUNDS CARRIED FORWARD 1,610,087 1,610,087 1,265,638 The notes form part of these financial statements Page 7
BOOK AID BALANCE SHEET 31 December 2024 2024 Total nds 2023 Total funds Unrestricted fund Restricted fijnds Notes FIXED ASSETS Tangible assets 10 lJ14,616 1,504,616 1.205,770 Delxors Cash at bank and in hand 1&825 95,221 18,825 95,221 14.329 55.900 114,046 114,046 70,229 CREDrroRS Amounts falling due within one year 12 (8A75) (8,575) (10,361) NET CURRENT ASSETS 105,471 105,471 59,868 TOTAL ASSETS LESS CURRENT LIABILITIES 1,610,087 1,610,087 1,265,638 NET ASSETS 1,610,087 1,610,087 1,265,638 13 Unrestricted funds 1,610,087 1,265,638 TOTAL FUNDS 1,610,087 1,265.638 The financial stattments were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: J.t.:..J.,o.., 2¥ A Quinney - Trustee R Bradshaw- Trustee The notes forni part of these fman¢ial staternents Page 8
BOOK AID IYOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 AccouKfING POLICIES Basis of preparillg the finallcial stalements The financial statements of the charity. which is a public benefit entity under FRS 101 hav¢ been ppared in accordance with the Charities SORP (FRS 102) 'Accountin8 and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial R¢porttn8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK ftnd Republic of Ireland, and the Charities Act 2011. The financial statements have Ixen prepared under the historical ¢ost convention, as modified by the r¢valuation of certain assets. Income All income is reCOlSed in the Statement of Financial Activities once the charity has ¢ntitl¢ment 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 TS a legal or constructive obligation committing the charity to that exp¢nditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Exp¢nditure is accounted for on an accruals basis and has been classified under headings that agggate all cort related to the category. Where Costs canmot be ditlY attributed to particular headings they have been allocatrd 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 estirnated useful life. Fixtures and fittings OffirK equipment 20 % on reducing batance 200/0 on reducing balance The freehold properties have not been deprecated, as they are maintained to a standard thal in the opinion of the trustee5, pcludeS the need to provide depreciation. This departure from aGcountin8 Standards is deemed necessary for a true and fair representation of the propertie5 in the financial statemetrts. Taxation The ¢harity is exempt from tax on its charitable octivities. Fund Aceollnting Unrestricted fullds can be used in aOrdanCe with the charitable objectives at the discretion of the truste08. Restricted fimds can only be used for particular $trIcted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted piirposes. Further explanation of the nature and purpose of each nd is included in the notes to the financial statements. Hire purchase and leasing commitments Ren&ls paid under operating l¢ases are charged to the Statement of financial activities on a straight Ilne basls over the Feriod of the lease. Pase 9 continued...
BOOK AID NOTES TO THE FINANCtAL STATEMENTS- Continued for the year ended 31 December 2024 SALE OF BOOKS 2024 2023 Book sales 117,732 170 112 RENT & IWTEREST RECEIVED 2024 2023 Rents received Deposit account interest 46,800 788 46,800 CHARITABLE ACTIVITIES COSTS 2024 Direct Costs (see note 5) Sale of book5 238 686 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Postage & stationery Shipping costs Amazon & Paypal fees Donations 197,502 17,912 4,999 17,996 277 218,797 22,9(K) 5,541 22,738 238 686 271021 SUPPORT COSTS General support Governance costs Totals Other resources expended Page 9 continued...
BOOK AID NOTES TO THE FINANCL4L STATEMENTS- ¢ontinued for the year ended 31 December 2024 SUPPORT COSTS- continued Support costs, included in the above, are as follows: Cenernl support 2024 2023 resour¢¢s expended Total activities Rent Rates & water Insurance Light & heat Telephone Motor, trdvel & moving costs Mainlenance & repairs Bank Gharges Legal & professional fees Offiie costs Depretsiation of tsngible and heritage assets (Profit)/Loss on disposal fixed assets 5,608 10266 4ffj00 7,026 S007 li 7,749 2,979 47,558 35,8A9 262 1,040 8,539 9,359 1262 27,618 10,023 325 6,287 1,443 {I664) (78,052) 47,522 70,986 GovernAnce eost$ 2024 Other resources expended 2023 Total activities Independent examiner 3,413 3350 OTHER 2024 2023 Support costs 50,935 74,236 Pagell continued...
BOOK AID 1¥4OTES TO THE FINANCIAL STATEMENTS- continued for the yeAr ended 31 Deeember 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. STAFF COSTS The averdge rnonthly number of employees during the year was as follow5: 2024 13 2023 14 No employees received emoluments in excess of £60,000. The trust employs 13 slaff (3 1[ time and l O part time). Full time equivalentr. 7.1. io. TANGIBLE FIXED ASSETS Fixtures Freehold prop otyice equipment fittings Totals COST OR VALUATION Ai l January 2024 Disposals Revaluations 1,20O.IJOO (ioo.000) 400,1K)O 21,Y23 18099 (493) 1240,822 (100,493) 400,1)00 Al 31 Dettmber 2024 iJoo,(M)o 21,923 18,406 IA40J29 DEPRECJATION At l January 2024 Charge foT year Eliminated on disposal 20,448 295 14ffj04 858 (492) 35,052 1,153 (492) At 31 December 2024 20,743 14,970 35,713 NET BOOK VALUE At 31 December 2024 1000,000 3A36 1,$04,616 At 31 December 2023 1,200,000 1,475 4,295 1,205.770 Cost or valuation at 31 December 2024 is represented by: Fixtures and fittlngs Freehold property Office equipment Totals Valuation in 2016 Valuation in 2024 Cost 340,054 400,000 759,946 340,054 400,000 800275 21,923 1&406 i.5(,000 21,923 1&406 IJ40J29 Page 12 continued...
BOOKAID NOTES TO THE FINANCIAL STATEMENTS- eontinued for the year ended 31 December 2024 io. TANGIBLE FIXED ASSETS - Continued The property at Ranskill was revalued in February 2016 by PD White MRICS of Brom & Co at a value of £200.000, This property was part-disposed off in July 2024, Thc property at Kangley Bridge Road was revalued in September 2016 by JA Byrne Bs¢ (Hons) MRICS of Howell Brooks at a value of £1 million. Both properties have been revalued in the 31n125 financial statements based on estale agent valuations and property sale activity. during and post year end. li. DEBTORS: AMOUNTS FALLiNG DUE WITHtN ONE YEAR 2024 2023 Other debtors Prepayments 13,831 4,994 11,719 1610 18025 14,329 12. CREDJTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and social security Other ¢reditors 3J99 5,176 3,542 6,819 8,575 10,361 13. MOVEMENT IN FUNDS Net movement in fjjnds At 31.12.24 At 1.1.24 Unrestricted funds General fimd 136S638 344,449 1,610,087 TOTAL FUNDS 1,265,638 344449 1,61&,087 Page 13 continued..
BOOK AID NOTES TO THE FINANCIAL STATEMENfs- fontinued for the year ended 31 December 2024 MOVEMENT IN FUrDs - continued Net rnovement in fijnds. included in the aknve are as follows: Incoming resourc&8 Resour¢es expended Gains and losse5 Movement in funds Unrestricted funds General fund 200,458 (256,IX)9) 400,000 344849 Restricted funds Bibles erseas distribution 9,588 24,024 {9J88) (24,024) 33,612 (33,612) TOTAL FUNDS 234,070 1289,621) 400,000 344,449 Comparatlves for movement in funds Net movement in fimds At 31.12.23 1.1,23 Unrestricted fund$ Gen¢rnl fund 1,328,227 (62589) 1,265,638 TOTAL FUNDS 1,328,227 (62,589) 1,265,638 CoTnpardtive net movement in funds. included in the above are as follows.. Incoming 8ource$ Resources expended Movement in funds Unr&8liicted fiinds G¢n¢ral fund 256,013 (318,602) (62,589) Restricted funds Bibles Overse&8 distribution 5,755 20,900 (5,755) (20,900) 26,655 {26,655) TOTAL FUNDS 282,668 (345,257) (61589) The Bible fund is where donations have bgen received specifically to purchase Bibles to send overseas. The overseas distribution fund is where donations were re¢¢ived specifically towards the costs aoCIated with the overseas distribution. Both of these funds was fully utilised in the year. Page 14 continu...
BOOK AID NOTES TO THE FtNANCIAL STATEMENTS- continued for the year ended 31 December 2024 14. RELATED PARTY DISCLOSURES There were no related party trdnsa¢tions for the year ended 31 Dember 2024. Page 15