BOOKS ALtVE (A charitable company limited by guarantee) TRUSTEE¥ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Registered number. 3737476 Registered charity number 1077435
BOOKS ALIVE (A charitable company limited by guarantee} Index to trustees. report and financial statements Contents Trustees, annual report Independent Examinerfs report Statetnent of Financial Activities Balance sheet Accounting Policies Notes to the accounts 9-10
BOOKS ALIVE (A charitable company limited by guarnntee) TRusfEES'ANNUAL REPORT The trustees (who also act as directors for Companies Act purp05es} have pleasure in presenting their report and financial siatements for the year ended 31 Dernber 2023. The trustees believe that the financial ststements comply wfith current statutory requirements and the charitrfs governing document The trustees have adopted the provisions of the Statement of Recommended Practice (SORP]. subjert to the small companies. regime. Reference and administrative detsils of the Charjty, and Advisors Books Alive is a registered charity number 1077435 and Company number 3737476. The principal registered office of the charity is: 86 Elm Drive Hove BN3 7JL The trnstees of the charity in the period have been: Mr l E Puttock (Chair) Mrs G Carr Mrs S Forrest Mrs S C Haines Mrs S Smith Mr D Standing Rev Dr N Tucker The advisors to the rharity during the year have beeTh: Accountant Mr N Carr 56 Hogarth Road Hove BN3 5RH IndependentExaminer Mr I Crosthwaite 31 Portland Villas Hove BN3 5SA Solicitors Mayo Wynne Baxter 3 Bell Lane Lewes BN7 IJU Bankers Barclays Bank plc North Street PO Box 2915 Brighton BN3 ISJ Redwood Bank The Nexus Building Broadway Letchworth Garden City SG6 3TA Page I
BOOKS ALIVE (A ckntable company limited by guardntee) TRusfEEY ANNUAL REPORT {Continued) Structurei governance and management Books Alive was incoryorated as a company limited by guarantee (registered number 3737476) on 22 March 1999. The governing document is the Memorandutn and Articles ofthe company. As specified by the governing documenc the income and property of the company shall be applied solely toward5 the promotion of its objects. The trustee5 are appointed by the members at the annual general meeting on the recommendation of the trustees. Up to 4 trnstees may be appointed by resolution to serve for periods of 3 years. The tstees retire by rotation and may be rapPOInted for further periods of 3 years. The current trustees due to retire are a5 follows: Mrs S Forrest Mrs S Smith and Mr D Standing at the AGM in 2024. Mr J Puttock at the AGM in 2025. In addition, the Parochial Church Council of Bishop Hannington Memorlal Church may nominate up to 3 trustees. one of whorn must be the Vicar. The current appoRnted trustees are Mrs G Carr until 2025, Mrs S Haines untfil 2026, and the Vicar, Rev Dr N Tucker Law applicable to incorpordted charities in England and Wales requires the trustees. who are also the directors of the company. to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company at the end of the year and its financial activities during the year then ended. In preparing those financial statements. the trnstees are required to:
Select suitable accounting policies and then apply them consistently, Make judgements and estimates that are reasonable and prudent; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the tharity will continue in operdtio The trustees are responsible for keeping proper accounting records which disclose wlth reasonable accuracy at any time the financial p051tion of the company and which enables them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibilities taking such steps a5 are reasonably open to them to safeguard the assets ofthe company and to prevent and detert fraud and other Irregularities. Risk Management The trustees have examined the main areas of the charitys operations and considered the rnajor risks faced in each of these areas. In the opinion of the trustees the charity has established resources and review systems which, under norn1 conditions. should allow these risks to be mitigated to an acceptable level in its day to day operntions. Page 2
BOOKS ALIVE (A charitable company limited by guarantee) Objertlves and activitles The CoMpanS principal objective is the advanmeTrt of the Christian religion by the establishment and rnaintenance of a bookshop and through the sale and distribution of books. magazines. (3rds. music and such other items as the company shall think fit Publlc Beneflt The company's tNstees have referred to the Charity c0missIOn.5 general guidance on public benefit and consider that the charity has continued to meet those requirements. The bookshop trndes six days a week and is entirely accessible to all the public regardless of any religiou5 belief. or none. Achievements and perfOrnnce Sales for the year remained stable at £75.940 a small increase of £880 over2022. While trustees had hoped to show a greater improvement in sales over the year more foundational work has been undertaken by Gillian Carr, One of the trustee5, who has continued to oversee the management of the shop on d voluntary basis. Gillian invol5 the company £250 per month for her consultancy work and it Is allticipated that her actÈvities will generate a significant increase in sales in 2024. Of partlcular note has been the continued success of our secondhand book section on the upper floor. This has generated sales of £6,683 over the year and has been of particular benefit for theological students. churth leaders and individuals. Our loyalty scheme continues to be well used. During the year the company supported The Brighton and Hove City Mission by providing them free of charge with a number of Bibles for their mlnistry and the company also supported the Chichester Diocesan May Camp by providing them with 20 books for those who made a Christian commitment at the Camp. We continue to be a centre for donations towards the local foodbank and made a donation of £20 on the basis of Christtnas cards sold for that specific purpose. We were pleased On again to be able to hold a number of external sales events during the year and expect this to increase in 2024. We would like to thank our book keepers, all our customers, friends, publishers and their representatives for their support during the year. A special thank you is due to all the volunteers who give their time and energy to staffing the shop each week Without their support the Shop couldn't opell 6 days a week Financial review The unrestricted sury)lus for the year was £9,680 which when added to funds of £78,452 brought forward from 31st December 2022. resulted in unrestricted funds of £88.132 being carried forward at 31st December 2023 The trustees may invest the surplus funds. not immediately required for the purposes of the company in or upon such investments. securities or property as they th?nk fiL and from time to time to transpose. vary and realise such investments subject to such conditions and Such consensu5 as may be required by law and sllbject also to the provisions of its Memorandum and Articles. By the year-end £35.000 had been invested in a 95-day notice account with Redwood Bank Page 3
BOOKS ALIVE (A charitsble company limited by guarantee) Reserves Policy The trustees regularly review the level of reserves held by the company and are pleased to report that currently the company holds unrestricted funds well in exce55 of 6 months expenditure. By order of the Board Trustee John Puttock (Chair] Date.. Trustee Gilllan Carr Registered office 86 Elm Drive Hove BN3 7JL Page 4
INI)EPENDEiYf EXAMINER'S REPORT TO THE TRUSTEES OF BOOKS eco I rcport to the charity TTUStees on my examinatton of the accounts of the Company for the year ended 31 December 2023. Responsibilities aDd basis of report As the charity's Trnstees of the Company (and also its diY¢ctors for the PUT[KK of company law) you are reswnsible for the prepardtion of the (Iccounts ID COrda[ with the requirements of tbe Companies Act 2006 Cthe 2006 A¢t?. Having satisfied myself that the &counts of the Company ate Mt u]red to be audited under Part 16 of the 2006 Act and eligible for indepeJJdcnt examinatio E report inrespect of examtnation of yourclwity's accounts &s carried out wider section 145 of th¢ Cbarities Act 2011 Cthe 2011 Act,). In carying out my examination I have followed the Directions given by the Clwity Cornmission under section 145(5) (b) of the 2011 Act. Independcnt ¢x2mineVs staten)ent Sin¢¢ your charity's gross income has not exceeded £250.000 your examiner does th)t lleed to a member of a listed ljxly. I have Completed n]y exaMition. I confirni that no matters bavc come to my attention in connection with the ¢xamin&ion giving me cause to believe.. accounting records were not kept in respect of the Company as Tequirnl by section 386 of the 2(X)6 ALt" or the accounts do not accord with those rec4)Tds" OT the accounts do not colnply with the accounting requirements of section 396 of the 21X)6 Act other than any requirement that the accounts give a te and fair view whicb is not a matter cO81dered as part of an indqKndent examination" or the accounts have not been prepared in acconknce with ihe metho(Ls and princtples of tbe Statement of ReCOmDnded Pra¢ti(% for acwunting and reporting by charitie5 [applicable to charities preparing thcir accounts in accordance with the Financial Rewrting Slandard applicable in the UK and Republic of Ireland (FRS 102)]. I bave no concerns and have aosS no other matters ID conncctAonwith the examination to which att¢ntion should drawn in this rew>rt in order to enable a prOr understanding of the accounts lo be reache Mr I Crosthwaite 31 Portland Vill&s Hov¢ BN3 5SA Siglled...... PAGE 5
BOOKSAiIVE A Challlable Companyiimired Guar¥hte StatemertofFinantial A<tl¥ltsknYearE•wlod31 De¢effll¥er2023 Unrestricte(l (estriLted Funds Fvrnls FUNDS 2023 2022 Int¢¥ r•sOUTStM rnted fvnds Voluntary ittome Investment Inci)me 1249 1249 B55 10944 10544 2b Charitable a¢tl¥ltles Saleof BrN)ksandChri5tian ProthKts 75910 760 88133 86459 Charitableacthvities Governancecosts &4 75263 3190 7516a 72903 31) 3190 78453 76093 NET(oufGOIN611I14CrtG RESOURCE5 Unre5trictd FuNlsforlnc(Mne awKI expendlture Totsi Funds BrouBhi Forward 08132 78451 All incoming resourtes and resources e<&nded arfroM continuirgattivitles Pagè6
BOOKS ALIVE A Charitable Company Limited by Guarantee Balano Sheet 31.12.23 Total Funds 2023 Total Funds 2022 Notes TanEible Cuyrent Assets Stock Debtors Savings Account Cash at bankand in hand 261Z5 27713 2864 29632 58613 93014 89190 Credkors Falling Due in l year -10738 Net Current Assets 88132 78452 Total Assets less Current Liabilities 88132 78452 Net Assets 88132 78452 Funds 88132 78452 Note For the year ending 31st Oecember 2023 the Company was entitled to exception from audit under Sertion 477 of the Cornpan Act 21x16. The members have not fequired the tornpany to obtaln an audit in accordan with Section 476 of the Companies Ad 2016. The trustees acknowledge thelr responsibilities for complying with the requirernents of the Act with respert to accounting record5 and for the preparation of these accounts. These accounts have been Prepared In accordance with the provislons applicable to Companies subject to the small charitsble Companies, regime. These accounts We approved bytheTrusteesldirectors on_.... and signed o ir behalf by: J Puttock Chair of TrusteeslDi
BOOKS ALIVE (A Charitable Company Limited by Guardntee) Notes to the Aefounts for the Year Fnded 31 Deeember 2023 l. Accountin Policies Basis of preparation; . These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {effective January 2015) ["FRS 102.) and the Companies Act 2006. Assets and liabilitie5 are initially recognised at historical cost or transaction value unle55 otherwise stated in the relevant accounting policy note(s)- a) Fund accounting - Funds held by the Company are either: _ Unrestricted funds - General funds which can be used for the Company'5 ordinary purposes. or Restrirted Funds- being either (a) income from trusts which may be expended only on those restricted objects provided in the terms ofthe trust or bequest; or (b) donations or grants received for a specific objecL Any balance reIning unspent at the end of the year is carried forward as a balance on that restricted fund. b) Income recognition policies Sales are recognised in the period to whlch the sales relate. Rental income is recognised in the period to which the rent relates. Income tax recoverable on Gift Aid donations is recognised in the period to which the gift aid rdates. e) Expenditure Expenditure is recognised as soon as there is a legal or con5tructlve obllgation cornmitting the Company to make a paymenL d) Depreciation Depreciation is calculated to write down the cost of tangible fixed assets. exduding freehold properties, over their expected useful live. The rates are: Shop Equipment straight line over 10 years Shop Fittings straight line over 10 years Computer and Audio Equipment straight line over 4 years It is norn)al policy not to capitalise assets below £100 or when financed by donations. There were no capitalised items to depreciate from previous years or in 2023. e) Stocks Stocks are valued at the lower of cost and net realisable value. O T&Yation As a Tegistered charity. it 15 exempt from corpordtion t&¥ to the extent that its income and gains are applicable to charitable purposes only. Page 8
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