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← World Book Day Limited

2024-06-30-accounts

World Book Day Limited

Report and financial statements for the year ended 30 June 2024

Company number: 03783095 Charity number: 1079257

World Book Day Limited

For the year ended 30 June 2024

2

CONTENTS

CONTENTS
Reference and administrative information 3
Trustees’ annual report 4
Independent auditor’s report 25
Statement of fnancial activities
(incorporating an income and
expenditure account) 29
Balance sheet 30
Statement of cash fows 31
Notes to the fnancial statements 32

World Book Day Limited

For the year ended 30 June 2024

3

Reference and administrative information

Company number 03783095
Charity number 1079257
Country of registration England & Wales
Registered ofce and
operational address 6 Bell Yard
London WC2A 2JR
Trustees Trustees, who are also directors under company law, who served
during the year and up to the date of this report were as follows:
A Bond
H Broadfoot
R Calderon
D Conway
C Cowell Resigned September 2023
J Douglas
R Flint Appointed September 2023
M Halls
S Mahal
W Obbard Treasurer Appointed November 2023
R Sinclair Appointed January 2024
E Scot Chair
N Vanderbilt Appointed January 2024
Key Management Cassie Chadderton Chief Executive and Company Secretary
Personnel Emma Pritchard World Book Day Manager
Kate Sayer Community and Development Manager
Maya Maraj Commercial Partnerships Manager
Amy Birch Finance and Operations Manager
Bankers HSBC
Church Street
Weybridge
KT13 8DF
Solicitor Bristows
1st Floor
100 Victoria Embankment
London EC4Y 0DH
Auditor Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 4

Trustees annual report

The trustees present their report and the audited financial statements for the year ended 30 June 2024.

Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The objective of the charity is the promotion and encouragement of reading. Its beneficiaries are children and young people.

World Book Day’s vision and mission

Vision

More children, from all backgrounds, developing a life-long habit of reading for pleasure, and benefitting from the improved life chances this brings them.

Mission

World Book Day’s mission is to promote reading for pleasure, offering every child and young person the opportunity to have a book of their own. Reading for pleasure is the single biggest indicator of a child’s future success – more than their family circumstances, their parents’ educational background or their income.

Through our annual event in March with its joy, celebration and fun, we encourage more children to read and raise awareness of the difference reading makes to their lives. Through our year-round activities, we support families, schools, libraries, booksellers and communities to help children love reading.

~~a.~~ World Book Day Limited Trustees Annual Report = For the year ended 30 June 2024

5

A note from World Book Day's Chair and Chief Executive

Welcome to our Annual Report 2024. Fewer children and young people reading for pleasure is a societal issue that World Book Day is addressing head on. If children do not read for pleasure they’re less likely to benefit from a whole range of positive outcomes.

This year our new research on children’s motivation to read made headline news. The findings were stark: 1 in 5 kids feel judged for what they read. The message was clear: children will find reading fun if they can choose what, when and how they read.

We aim to empower children to have autonomy over their reading by choosing one of the 2 million £1/€1.50 books printed, and by giving them the freedom to discover reading on their own terms through our events and materials. We encourage the adults surrounding them to bring our campaign message of ‘Read Your Way’ to life, demonstrating how enjoyable and accessible reading can be.

It takes many people and partners to make World Book Day’s work happen. This year, with publishers and other partners, we included more children in the joy and benefits of reading by taking 104,000 books directly to them. 24,000 went to libraries in areas of high deprivation without a bookshop nearby. Here, families could take part in our unique World Book Day reading celebrations and exchange their £1 token for a £1 book in a relaxed space. And we continued to work with HMP Prisons, giving visiting children a chance to choose books and read with their loved ones.

Realising our vision depends on the imagination, involvement and initiative of a wide range of colleagues and partners. Thank you to everyone who takes part to give children the life-changing superpower of reading, on World Book Day and every day of the year. Cassie Chadderton

Together we can turn the tide and encourage more children to be readers, giving a whole generation the improved life-chances this brings. Emma Scott Chair

Purposes and aims

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity’s aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission. In particular, the trustees refer to the Charity Commission’s general guidance on public benefit both when reviewing how well past activities have satisfied the charity’s stated objective, and when planning how future activities may best continue to do so.

The main means through which the charity’s objective is met is the organisation and promotion each year of a series of events designed to encourage reading by the public surrounding a designated day (in 2024, it was 7 March) known as World Book Day.

so I can't wait I to read this! Child, 2024 survey

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

7

Our Activities

World Book Day’s activities and who it tries to help are described below. All its charitable activities focus on the promotion of reading, especially to children and young people and their families, and are undertaken to further World Book Day Limited’s charitable purposes for the public benefit.

1. Offering every child and young person the opportunity to have a book of their own.

2. Promote and encourage reading for pleasure

3. Produce resources that support the development of reading for pleasure

World Book Day produces resources to encourage and support reading for pleasure. This includes resource packs for schools and school children throughout the UK and Ireland and a wide range of activities to support reading available through the World Book Day website.

A ~~EEE~~ World Book Day Limited Trustees Annual Report For the year ended 30 June 2024 8

Why do we have World Book Day?

World Book Day improves children’s life chances, particularly those growing up in disadvantage and inequality, by encouraging reading for pleasure.

Reading for pleasure matters

Reading for pleasure is the single biggest indicator of a child’s future success – more than their family circumstances, their parents’ educational background or their income.

Source: Organisation for Economic Co-operation & Development. Evidence from the National Literacy Trust, BookTrust and others shows that reading enjoyment and literacy levels are associated with educational attainment and employability skills as well as health, social, emotional and intellectual benefits.

Fewer children are choosing to read

Source: National Literacy Trust

Source: National Literacy Trust, Annual Literacy Survey 2023

Reading for pleasure is in decline but World Book Day can help reverse it

Through our annual event in March, filled with joy, celebration and fun, we encourage more children to read, and raise awareness of the difference reading makes to their lives.

Through our activities we support families, schools, libraries, bookshops and communities to help children love reading.

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----- Start of picture text -----
Our 6 principles to encourage children to read for pleasure shape our work
Being read to regularly Finding time
to read
Having books at
home and school
Having
trusted help
to find a book
Making reading FUN!
Having a choice
in what to read
----- End of picture text -----

World Book Day promotes reading for pleasure by:

1 in 4 pupils receiving Free School Meals said the £1 book they ‘bought’ with their £1 token was the first book of their own.

91% of 5-8 year olds and 76% of 8-16 year olds took part in a World Book Day event.

35% of children make more time to read as a result of World Book Day.

39% of children find reading more fun.

94.2% of children have heard of World Book Day.

Source: National Literacy Trust, Annual Literacy Survey 2024

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 10

Achievements and performance

The charity’s campaign set out to encourage all families and children to see reading as part of their lives, using its ‘6 principles’ as a framework for campaign messaging and activity. The charity’s work to reach children and families in areas of high deprivation and low-literacy continued, in partnership with the National Literacy Trust and distributing copies of the £1 books – made possible by donations from publishers and McDonald’s.

Highlights of 2024

2m

£1/€1.50 books gifted by booksellers and publishers gave children 15 new and exciting £1/€1.50 books to choose from and own

360

children involved in choosing the £1 books

46.5k

£1/€1.50 token packs sent to schools and nurseries

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----- Start of picture text -----
é Photo: Ash Knotek
----- End of picture text -----

Patients at

Great Ormond Street Hospital experienced the magic of World Book Day with a pop-up bookshop, fun activities and audiobooks from our official audio partner Yoto

1.4k

accessible copies of the £1/€1.50 book given to children through our partners Lo

396k

social impressions

worldbookday and #readingforpleasure trended on X

Half a million

children enjoyed The Great World Book Day Footy and Booky Quiz, in partnership with the National Literacy Trust, featuring players from the Premier League, Teach Football League and Women’s Super League. Schools across the country tuned in to the World Book Day BBC Teach Live Lesson

32.3m

tokens distributed across the UK and Ireland through schools, magazines and partnerships, including 16.3 million McDonald’s Happy Meal® boxes

Our £1/€1.50 book authors and illustrators joined in the celebrations with the World Book Day Bookshop Tour

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----- Start of picture text -----
Photo: Suzi Corker
----- End of picture text -----

6.3m

motorists reached through digital display advertising at motorway stations across the country thanks to free digital advertising space from i-media

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 11

Reception at 10 Downing Street and cross-party support from

[MPs] 165

McDonald’s gifted

318.6k

Mr Men & Little Miss books as part of their World Book Day promotion

3.5k

booksellers took part in the festivities with events, school visits and brilliant displays

libraries 1.9k

hosted events, created displays and led activities about the joy of reading and book discovery in their communities

23k

Extensive online and print coverage including BBC Breakfast, CBBC, CBeebies and Lorraine

listens on our World of Stories free audiobooks hub thanks to publishers and our official audio partner Yoto

Morraine ~~6ee~~ 104.4k £1/€1.50 books donated Changeyour story by publishers distributed directly to children in “a under-served Book Trust communities, including sas j sumer 24k to every prison in Bf * Rts COUNCIL the UK for family visits mennwes |ENGLAND

27k

downloads of schools and early years packs

Our Shop to Support partners donated to the charity through jewellery collections, clothing apparel, badges, bookmarks, celebration packs, costumes, free entry into attractions for children and more

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----- Start of picture text -----
Sponsored by
----- End of picture text -----

==> picture [251 x 120] intentionally omitted <==

----- Start of picture text -----
Sponsored by
Your
= 72 WORLD BOOK DAY 2024 :
Primary Pack
_ Contents
Introduction: World Book Day and Reading for Pleasure 2 Prepare and plan your World Book Day World Book Day Online Events 5Make your World Book Day happen Activity Pack information Design a National Book Token competition Share your celebrations Sample letter to parents/carers Window posters Bookmarks Badges 16 3 10 12 14 13 11 19 23
Find more at worldbookday.com/celebrate-world-book-day
Changing lives through a love of books and reading World Book Day® is a registered charity sponsored by National Book TokensRegistered charity number 1079257 (England and Wales) | Registered company number 03783095 (UK).
Introduction: World Book Day and Reading for Pleasure 2 Prepare and plan your World Book Day Make your World Book Day happen Activity Pack information Design a National Book Token competition Share your celebrations Sample letter to parents and carers Window posters Bookmarks Badges 14 3 8 9 10 11 12 17 21
Sponsored by Sponsored by
Secondary Pack
Contents
Your
Early Years and
Foundation Stage Pack
Find more at
YOUR
WORLD BOOK DAY 2024 WORLD BOOK DAY 2024
Registered charity number 1079257 (England and Wales) | Registered company number 03783095 (UK).World Book Day® is a registered charity sponsored by National Book Tokens
World Book Day® is a registered charity sponsored by National Book TokensRegistered charity number 1079257 (England and Wales) | Registered company number 03783095 (UK).
ContenTS
Badges Bookmarks Window posters competition Design a National Book Token 10 Share your celebrations Activity Pack information Make your World Book Day happen Prepare and plan your World Book Day Reading for Pleasure Introduction: World Book Day and 2 181411987 3
Changing lives through a love of books and reading
Changing lives through a love of books and reading
Find more at worldbookday.com/celebrate-world-book-day
worldbookday.com/resources-to-celebrate-world-book-day
----- End of picture text -----

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

12

World Book Day’s strategy and impact ~~ee~~

1

Increase the reach and impact of the World Book Day annual campaign: giving every child the opportunity to be a reader by increasing reach and addressing behavioural and economic barriers.

We embedded a behavioural science approach in the delivery of World Book Day’s annual campaign in 2024.

Our research, commissioned from Beano Brain and funded by the Foyle Foundation, provided real insight into messaging that might help to change reading attitudes amongst children and adults. This resulted in the ‘Read Your Way’ campaign platform. We put children’s voices at the centre of telling a bold story around a societal problem. The research resulted in an authentic approach that resonated with media and sparked headlines, radio and TV interviews and social conversation in The Guardian, The Times, The Sun, Daily Mail and others.

We empowered children and young people to discover reading on their own terms, and as a hobby. And we stood as an ally for grown-ups in libraries, bookshops and schools by providing webinars, resources and inspiration for bringing Read Your Way to life.

48% of schools think World Book Day is effective in reaching reluctant readers (up from 35% in 2021)

1 in 5 children said they felt judged for what they read.

“Adults think proper reading is… non-fiction, thick books, books with only words.” World Book Day focus group respondent, 2023

Over a third of children say they cannot choose what they want to read at home (34%) or at school (35%).

“I have had a child in the classroom and they had the book that they thought they wanted me to see they were reading, and underneath that, the book they wanted to read. They’re hiding them away.” Teacher, Buckingham Primary School, Hampton

17% said they would find reading more enjoyable if they saw their parents reading – only a quarter (25%) say their parents relax by reading in the home compared to scrolling on their phone (56%), watching TV (52%) or watching their phone or tablet (40%).

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----- Start of picture text -----
“
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Love the Read Your Way messaging which speaks to choice and engaging with whichever books you want in whatever way you want to read. Librarian, Halton

“Adults usually tell you to read but then they don’t read and go on their phones. My teachers and my dad do that!” Girl, 11, Non-Reader, Beano Brain research, 2023

69% positive media sentiment (up 8% since 2022)

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 13

The research provided strong surround sound for other conversations around dressing up and the cost of living. It also created a bank of evidence to build World Book Day’s case to focus on reading for pleasure with media, political audiences and to attract partners in the future.

Reading is best when...

When World Book Day asked children when reading is best, autonomy and control were by far the most important factors. They said reading is best:

Beano Brain research, 2023

Improve life chances for children through reading: activities meet the 2 charity’s purpose and the needs of beneficiaries – particularly those from lower socio-economic groups.

Our targeted work in 2024 focussed on providing children, who otherwise wouldn’t participate, with access to the World Book Day celebrations. We realised this by trialling new World Book Day activations in libraries, prisons and Great Ormond Street Hospital.

Spotlight on prisons

Innovating in under-served communities

We gave more children the choice to read. We delivered four key events in under-served communities, in areas of high deprivation. All four areas have statistically low literacy levels and are more than three miles away from retailers who stock the books. These events led to a number of schools rejoining World Book Day celebrations.

We made reading fun. We trialled participative events in 20 libraries which showcased the six reading for pleasure principles in a creative and child-centred way. We tested delivery of the events as a curated offer from World Book Day with the support of Arts Council England and with libraries planning and running the celebrations themselves.

We distributed a total of 24k £1 books across every prison in the UK. Children were gifted the books by their parents and enjoyed sharing them together during family visiting times.

“The men are always very grateful to receive their books on the visits and it encourages dads to sit and read with their children.”

“I don’t have any books at home so I can’t wait to read this!”

Feedback from prison distribution

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 14

“We tried something a bit different with our WBD class visits – we focussed on books and reading instead of what a library is, and the impact of that has been significant . . . The children have not stopped talking about their experience.” Librarians, Holton

We provided access to books. We donated £1/€1.50 books to 20 libraries in our target areas. For the first time, children could exchange their book token in a library, where their families wouldn’t feel the pressure to make another purchase. In 2024, over 4k children used a library to redeem their token.

Made possible with support from Julia and Hans Rausing

“The March rise was highest in junior book borrowing. There’s no doubt WBD contributed significantly all round to footfall borrowing and new members.” Librarian, Torquay

We took the celebrations to children in hospitals. This included a special event at Great Ormond Street Hospital in partnership with our official audio sponsor Yoto.

“To see so many happy relaxed faces was a joy - the patients took part in World Book Day celebrations that they may have otherwise missed out on.”

Lizzie Penn, Senior Play Specialist at GOSH

We continued our work with partners to make the £1/€1.50 books accessible. We are grateful for the support of Vision Ireland, RNIB, Calibre, Guide Dogs, Coram Beanstalk and Bag Books.

121% more children and young people accessed the large print editions of the £1 books through Guide Dogs (up from 2023)

Map showing the distribution of 104.4k World Book Day books through our community partners

Prisons

Libraries

National Literacy Trust/Hubs

Books Council of Wales

Other Community Partners

With thanks to partners and funders

Early years practitioner, 2024 survey

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

16

Nurture and strengthen the World Book Day brand for the long-term benefit 3 of our beneficiaries, stakeholders and partners.

World Book Day has strong brand recognition (95% of children and 86% of adults have heard of World Book Day) and we are strengthening our brand position for the long term. This enables us to drive forward our mission to promote reading for pleasure and the difference it can make to the lives of the children and young people we work with.

In 2024, we focussed on:

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

17

4 Build operational capacity and revenue to support the development of the charity.

We have utilised the strengthening of the World Book Day brand and presence to increase revenue by +37.5% since 2020. We have also achieved a greater diversity of income sources.

We are building strong partnerships with companies who showcase the World Book Day brand to reach families, and donate a % of sales to the charity.

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----- Start of picture text -----
How World Book Day was funded in 2023/24 How funds were spent
Publishers: £464,896
National Book Tokens: £166,000
Raising funds: £163,994
Licences: £222,898
Encouraging access: £503,390
Royalties: £19,949
Promotion of reading: £295,948
Donations: £61,804
Developing resources: £82,399
Trusts and Foundations: £122,041
Other: £5,911 TOTAL: £1,045,731
TOTAL: £1,063,499
| 4 )
Publishers Donations Raising funds
National Book Tokens || Trusts and Foundations . Encouraging access
Licences || Other Promotion of reading
Royalties |_| Developing resources
----- End of picture text -----

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 18

Governance

World Book Day is a registered charity (no.1079257) and company limited by guarantee (no.03783095). It has two Founder Members (Booksellers Association and Publishers Association) who may also nominate one additional individual or organisation. There are twelve Trustees, made up of three people appointed by the BA and PA and six others (one of whom is our Chair, Emma Scott).

The role of World Book Day’s Trustees is to govern the organisation and provide overall direction to achieve the charity’s aims. Trustees have legal responsibility for the charity’s management and administration.

In 2023/2024 we:

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 19

Financial review

The charity continued to attract sponsorship, licence fee income and other income associated with its charitable activities from companies within the publishing and bookselling industry throughout the year ended 30 June 2024.

Additional grant funding of £45,000 was awarded by the Charity of Sir Richard Whittington through Mercers’ Company to continue the ‘Reading for pleasure’ project for a further 2 years into 2025 along with the balance of Foyle funding awarded in 2023 (£40,000 for a year between September 2022 and August 2023). In addition to this grant funding was awarded by Arts Council England and the J H Rausing Foundation to create a library programme, working closely with 24 libraries using the World Book Day brand to encourage greater levels of reading for pleasure for children, in particular those in underserved communities where there are fewer bookshops. The Mo Siewcharran Fund provided a grant (£4,703) to support a trainee administrator role and Hiscox Insurance provided a grant (£4,250) to support the ongoing work of the charity.

The charity continues to significantly improve its year-on-year income and consider the long-term sustainability and diversification of its income streams taking steps both to review and improve its income over the coming years. It maintains close control of its costs and expenditure. The charity’s delivery of projects in association with grant income received increased expenditure (including employment of staff) during the year.

The net movement of funds for the year was a net increase of £17,768 (2023: £11,157) The increase in funds comprised of an increase of £15,268 in unrestricted funds and an increase of £2,500 in restricted funds. Overall, the Charity’s funds increased to £287,013 from £269,245 in 2023, of which £264,513 (2023: £249,245) was unrestricted.

Unrestricted income increased to £943,958 from £808,362 in 2023, there was an increase of £72,962 in licence fees and £21,850 increase in donations, however income from publisher opportunities was lower than expected.

Unrestricted expenditure increased to £928,690 from £789,938 in 2023, the charity continued to focus expenditure on encouraging access and the promotion of reading. Areas of increased expenditure included staff costs, website and media, printing and distribution.

Principal risks and uncertainties

The charity reviews its strategic and operational risks regularly. The financial and operational effect of loss of income from sponsors and funders has been considered by trustees. It is believed that all major sources of income will remain stable.

World Book Day’s strategy for 2023-27 addresses the broad socio-economic context and the impact of the rising cost of living on children’s engagement with reading.

Risk management

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks. The trustees have taken steps to ensure that all child protection issues are properly addressed. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

.

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 20

Investment powers and policy

Under the Memorandum of Association, the trustees have the power to deposit or invest funds in any manner they think fit, providing that they first obtain independent expert financial advice. In practice, any surplus funds are held on ordinary bank deposit and are likely to be so in the foreseeable future.

Reserves policy and going concern

It is the policy of the charity to aim to establish and maintain unrestricted funds at a level which equates to approximately 25% (3 months) of the following year’s budgeted expenditure. In addition to this the charity aims to maintain a positive cash balance of not less that £100,000 throughout the year. This provides sufficient funds to maintain, at least in the short term, the quality and effectiveness, of the annual World Book Day campaign in the event of there being a reduction in incoming resources, whilst ensuring the strategic objectives for 2023-2027 can be met.

The charity’s unrestricted reserves at 30 June 2024 were £264,513 (2023: 249,245) which equates to 26% (2023: 28%) of the total estimated unrestricted resources for the following year. The Trustees are satisfied this is above the policy level, the Charity will continue to invest its resources to grow the Charity and increase its income and expenditure to further meet beneficiary need.

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Fundraising

World Book Day’s approach to fundraising is intended to protect its reputation and encourage public trust and confidence in the charity.

World Book Day adheres to recognised standards, including the Charity Commissions six principles for trustees to take responsibility for fundraising and the Fundraising Regulator’s Code of Fundraising Practice. World Book Day is registered with the Fundraising Regulator.

World Book Day did not work with professional fundraisers or third parties during the year. During the year World Book Day received no complaints.

World Book Day contacts the majority of current and potential donors directly by email and in-person. These donors are commercial organisations or schools.

In 2024 World Book Day encouraged donations by individuals via Just Giving, Supported Giving, and through a fundraising pack available to interested organisations or individuals.

World Book Day ensures that its staff always treat people fairly and with respect, including as part of fundraising activities. Our fundraising materials are reviewed annually to ensure they explain our cause clearly and are sensitive to people who may be in vulnerable circumstances.

Plans for the future

In 2022/23 World Book Day’s trustees reviewed the charity’s strategy and business plan and approved their intention to deliver greater reach and impact to promote and encourage children’s reading for pleasure, building on the reputation and recognition of the World Book Day annual campaign and brand.

World Book Day’s strategy for 2023-27 sets out how the charity will:

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

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As part of the delivery of the strategy World Book Day will review its content and mechanisms to ensure they are linked to its outcomes and impacts and meet the charity’s purpose and needs of beneficiaries.

World Book Day is operationally lean and agile, with low fixed costs. It has been able to adapt to the rises in operational costs and inflation with no significant financial impact. There have been no changes to the value of the charities’ assets and liabilities and investments during the year.

World Book Day’s business plan for 2023-27 sets out how the charity aims to improve its income levels and diversify income sources. Additional income will support World Book Day’s engagement activities and content, its work to support life-changing reading habits with children and families experiencing disadvantage and inequality, and organisational development to ensure World Book Day can meet current needs and realise opportunities to make a greater impact.

The charity is introducing long-term funding agreements, maintaining a transparent funding structure from a broad range of income sources. These measures will allow it to adapt successfully to any changes in future context.

Following a review the charity has updated its reserves policy, to ensure it provides sufficient funds to maintain, at least in the short term, the quality and effectiveness, of the annual World Book Day campaign in the event of there being a reduction in incoming resources whilst also ensuring the strategic objectives for 2023-2027 can be met.

World Book Day believes that in the context of widening educational and economic disparity its work to encourage all children to develop a life-long habit of reading for pleasure, leading to improved life chances, will remain relevant.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 7 June 1999 and registered as a charity on 4 February 2000.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

Appointment of members

Under the terms of the company’s Articles of Association (approved September 2020) there shall be four members, of whom two shall be the Founder Members (Booksellers Association and Publishers Association). Each Founder Member may also nominate one individual or organisation to be admitted as an additional Member.

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 22

Method of nominating: members

Membership of the Charity is open to any individual or organisation interested in promoting the Objects who is nominated by either the Booksellers Association of the Publishers Association and signs the register of members or consents in writing to become a member either personally or (in the case of a member organisation) through an authorised representative.

Appointment of trustees

Under the terms of the company’s Articles of Association there shall be no more than 12 trustees at any one time.

The trustees shall comprise of up to three eligible persons appointed by the BA and PA and up to an additional six eligible persons.

The Chair will be appointed by the Trustees from among those of their number for a term of office of three years and may be reappointed for two consecutive terms.

Method of nominating: trustees

The method of recruiting BA and PA appointed trustees is set out in the Articles, supported by a process run by the BA and PA; each seek names of potential appointees from colleagues and others involved in the book trade and the world of reading. During 2021 the charity went through an open recruitment process, using its recruitment policy, to appoint three non-industry trustees (including a Chair).

Trustee induction and training

New trustees are provided with a Trustee Handbook outlining their legal obligations under charity and company law and are made aware of the content of the Articles of Association, the decision making process and the financial performance and plans of the charity.

Organisation

The trustees are responsible for the overall administration of the charity and for making strategic decisions. Under the terms of the Articles of Association, the trustees must meet at least four times a year.

The implementation of strategic plans is carried out by the Executive, which includes the Chief Executive, World Book Day Manager, Finance and Operations Manager and Corporate Partnerships Manager

World Book Day also contracted with freelance contractors and service providers to assist in the delivery of programme. A leading public relations company is employed on a contract basis to promote the charity’s activities. Staff employed by the Booksellers Association and the Publishers Association provide additional support and administration, free of charge to the charity.

Related parties and relationships with other organisations

The charity has a close relationship with both the Booksellers Association and Publishers Association.

The BA and PA are Founder Members of World Book Day and appoint under the terms of the company’s current articles of association two members to represent the Booksellers Association and the Publishers Association.

Throughout the year the charity’s Board included trustees holding senior positions at companies or organisations within the publishing and bookselling industries that provided financial donations.

The charity is sponsored by National Book Tokens, a subsidiary of the Booksellers Association.

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024 23

The charity’s Board also included a trustee holding a senior position at a literacy charity, The National Literacy Trust, with whom World Book Day works on research and evaluation, and as a partner on the achievement of its charitable objectives.

Amounts received and paid during the year are detailed in the financial statements.

Remuneration policy for key management personnel

The chief executive’s salary is set by the trustees and will be reviewed annually, referring to benchmarking information to confirm that the salary is reasonable and in line with the market. A performance and salary review is normally be carried out at least once in each year for all key management personnel.

Statement of responsibilities of the trustees

The trustees (who are also directors of World Book Day Limited for the purposes of company law) 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).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

: In preparing these financial statements, the trustees are required to

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

World Book Day Limited Trustees Annual Report

For the year ended 30 June 2024

24

Members of the charity promise to pay up to £1 towards the assets of the charity in the event of winding up. The total number of such guarantees at 30 June 2024 was £4 (2023: £4).

Four of the trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Godfrey Wilson Limited was appointed as the charitable company’s auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 23 January 2025 and signed on their behalf by

Emma Scott

Emma Scott Chair and Trustee

World Book Day Limited

For the year ended 30 June 2024 25

Independent auditor’s report To the members of World Book Day Limited

Opinion

We have audited the financial statements of World Book Day Limited (the ‘charity’) for the year ended 30 June 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

: In our opinion, the financial statements

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 8 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate..

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

World Book Day Limited

For the year ended 30 June 2024 26

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

World Book Day Limited

For the year ended 30 June 2024 27

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

World Book Day Limited

For the year ended 30 June 2024 28

Use of our report

This report is made solely to the charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s 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’s members as a body, for our audit work, for this report, or for the opinions we have formed.

William Guy Blake

24 January 2025

William Guy Blake ACA Senior Statutory Auditor

for and on behalf of GODFREY WILSON LIMITED Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

World Book Day Limited

For the year ended 30 June 2024 29

Statement of financial activities (incorporating an income and expenditure account)

Restated
2024 2023
Restricted Unrestricted Total Total
Note £ £ £ £
Income from:
Donations and legacies 3 119,541 64,304 183,845 143,894
Charitable activities
Encouraging access 4 - 111,449 111,449 74,967
Promotion of reading 4 - 742,345 742,345 673,985
Other trading activities 5 - 19,949 19,949 6,923
Other - 5,911 5,911 10,029
Total income 119,541 943,958 1,063,499 909,798
Expenditure on:
Raising funds 6,097 157,897 163,994 92,119
Charitable activities
Encouraging access 12,889 490,501 503,390 456,227
Promotion of reading 26,187 269,761 295,948 257,462
Developing resources 71,868 10,531 82,399 92,833
Total expenditure 7 117,041 928,690 1,045,731 898,641
Net income and net movement in funds 7 2,500 15,268 17,768 11,157
Reconciliation of funds:
Total funds brought forward 20,000 249,245 269,245 258,088
Total funds carried forward 22,500 264,513 287,013 269,245

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.

Income has been restated in the prior year to reclassify income between donations, charitable activities and other trading activities as explained in Note 2. This has no impact on net income.

Expenditure has been restated in the prior year to reclassify costs between charitable activities and raising funds. This has no impact on net income.

World Book Day Limited

For the year ended 30 June 2024 30

Balance sheet (Company no. 03783095)

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
15
Funds
16
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
84,469
318,758
403,227
(117,764)		 2024
£
1,550
285,463		 2024
£
1,550		 2023
£
2,533
107,637
205,405
313,042
(46,330)
266,712
287,013 269,245
22,500
17,500
247,013		 20,000
-
249,245
287,013 269,245

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

Approved by the trustees on 23 January 2025 and signed on their behalf by

Emma Scott

Emma Scott Chair and Trustee

World Book Day Limited

For the year ended 30 June 2024 31

Statement of cash flows

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash fows from investing activities:
Purchase of tangible fxed assets
Net cash used in investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
2023
£
£
17,768
11,157
1,506
1,436
23,168
(47,828)
71,434
(9,213)
113,876
(44,448)
(523)
(2,914)
(523)
(2,914)
113,353
(47,362)
205,405
252,767
318,758
205,405

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

World Book Day Limited

For the year ended 30 June 2024 32

Notes to the financial statements

1 Accounting policies

a) Basis of preparation

World Book Day Limited is a charitable company limited by guarantee registered in England and Wales. The registered office address is 6 Bell Yard, London, WC2A 2JR.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

World Book Day Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity’s ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of a specified service is deferred until criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

World Book Day continues to receive support in our distribution of book tokens. See note 3 for additional information on the policy used in accounting for this support.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

World Book Day Limited

For the year ended 30 June 2024 33

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of the cost of each activity as follows:

2024 2023
Raising funds 16.0% 10.0%
Charitable activities 84.0% 90.0%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 2 years

Items of equipment are capitalised where the purchase price exceeds £500.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

n) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

p) Accounting estimates and key judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy above.

World Book Day Limited

For the year ended 30 June 2024 34

2 Prior period comparatives: statement of financial activities (restated)

2023
Restricted Unrestricted Total
£ £ £
Income from:
Donations and legacies 101,436 42,458 143,894
Charitable activities
Encouraging access - 74,967 74,967
Promotion of reading - 673,985 673,985
Other trading activities - 6,923 6,923
Other - 10,029 10,029
Total income 101,436 808,362 909,798
Expenditure on:
Raising funds 6,469 85,650 92,119
Charitable activities
Encouraging access 13,058 443,169 456,227
Promotion of reading 12,308 245,154 257,462
Developing resources 76,868 15,965 92,833
Total expenditure 108,703 789,938 898,641
Net income / (expenditure) (7,267) 18,424 11,157
Transfers between funds (9,428) 9,428 -
Net movement in funds (16,695) 27,852 11,157

The following income has been restated to better reflect the classification requirements of the Charities SORP:

£507,477 of sponsorship income has been reclassified from donations to charitable activities.

£10,978 of promotional activities income has been reclassified from encouraging access to promotion of reading within charitable activities.

£5,076 of royalties income has been reclassified from charitable activities to other trading activities.

£1,846 of royalties income has been reclassified from donations to other trading activities.

World Book Day Limited

For the year ended 30 June 2024 35

3 Income from donations and legacies

Income from donations and leg acies
2024
Restricted Unrestricted Total
£ £ £
Grants 119,541 2,500 122,041
Donated services and facilities - 15,250 15,250
Other donations - 46,554 46,554
Total income from donations and legacies 119,541 64,304 183,845
Prior period comparative (restated)
2023
Restricted Unrestricted Total
£ £ £
Grants 94,436 - 94,436
Donated services and facilities - 15,240 15,240
Other donations 7,000 27,218 34,218
Total income from donations and legacies 101,436 42,458 143,894

As detailed in the trustees’ annual report, the charity distributes over 15 million World Book Day £1 Tokens each year.

World Book Day pays to produce and distribute the physical token each year, but the tokens have no onward redeemable value to the booksellers, once they have been redeemed by the children and young people.

The publishers produce the £1 titles (WBD books) at no cost to World Book Day. The booksellers purchase the books from the publishers at a cost of 10p per book.

The above are not recognised as a donated service on the grounds that the benefit provided to the charity cannot be measured accurately.

Income from donated services and facilities relate to support received from the Booksellers’ Association and Publishers’ Association in the form of office space, equipment and administrative support to World Book Day.

World Book Day Limited

For the year ended 30 June 2024 36

4 Income from charitable activities

Income from charitable activities
Encouraging access:
Licence fees
Promotion of reading:
Publisher sponsorship
Licence fees
Income from promotional activities
Total income from charitable activities		 Restated
2024
2023
£
£
111,449
74,967
537,680
507,477
111,449
74,967
93,216
91,541
853,794
748,952

All income from charitable activities in the current and prior year was unrestricted.

5 Income from other trading activities

Royalties Restated
2024
2023
£
£
19,949
6,923

All income from other trading activities in the current and prior year was unrestricted.

6 Government grants

The charitable company received a government grant, defined as funding from Arts Council England to fund charitable activities. The total value of such grants in the period ending 30 June 2024 was £20,561 (2023: £9,436). There were no unfulfilled conditions or contingencies attaching to this grant in 2023/24.

World Book Day Limited

For the year ended 30 June 2024 37

7 Total expenditure

==> picture [560 x 59] intentionally omitted <==

----- Start of picture text -----
Charitable activities
Raising funds Encouraging Promotion of Developing Governance Support 2024
access reading resources costs costs Total
£ £ £ £ £ £
----- End of picture text -----

£
£
£
£
£
£
Staf costs (note 9)
Event costs
Printing costs
Distribution costs
Public relations
Delivering WBD in communities
Donated services
Website, apps and social media costs
Project co-ordination
Artwork and design
Research and data
Evaluation
Point-of-sale materials
Audit and accountancy
Bank charges
Legal and professional
Irrecoverable VAT
Sundry expenses
Sub-total
Allocation of support and
governance costs
Total expenditure		 99,132
-
-
44,885
-
187,137
331,154
-
-
32,512
-
-
-
32,512
-
66,396
-
-
-
-
66,396
-
162,155
-
-
-
-
162,155
-
-
93,234
-
-
-
93,234
-
19,997
-
-
-
-
19,997
-
-
-
-
-
15,250
15,250
-
-
33,375
-
-
-
33,375
-
-
-
-
-
76,236
76,236
-
-
39,471
4,516
-
-
43,987
-
-
-
18,505
-
-
18,505
-
-
-
(500)
-
-
(500)
-
83,308
-
-
-
-
83,308
-
-
-
-
7,200
10,800
18,000
-
-
-
-
-
1,539
1,539
9,336
-
-
-
8,723
8,156
26,215
-
-
-
-
-
8,624
8,624
-
-
-
-
-
15,744
15,744
108,468
331,856
198,592
67,406
15,923
323,486
1,045,731
55,526
171,534
97,356
14,993
(15,923)
(323,486)
-
163,994
503,390
295,948
82,399
-
-
1,045,731

World Book Day Limited

For the year ended 30 June 2024 38

7 Total expenditure (continued) Prior period comparative (restated)

==> picture [560 x 63] intentionally omitted <==

----- Start of picture text -----
Charitable activities
Raising funds Encouraging Promotion of Developing Governance Support 2023
access reading resources costs costs Total
£ £ £ £ £ £
----- End of picture text -----

£
£
£
£
£
£
Staf costs (note 9)
Printing costs
Distribution costs
Public relations
Delivering WBD in communities
Donated services
Website, apps and social media costs
Project co-ordination
Artwork and design
Research and data
Evaluation
Point-of-sale materials
Audit and accountancy
Bank charges
Legal and professional
Irrecoverable VAT
Sundry expenses
Sub-total
Allocation of support and
governance costs
Total expenditure		 61,287
-
-
43,277
-
186,743
291,307
-
44,431
-
-
-
-
44,431
-
159,449
-
-
-
-
159,449
-
-
84,755
-
-
-
84,755
-
12,000
-
-
-
-
12,000
-
-
-
-
-
15,240
15,240
-
-
56,629
-
-
-
56,629
-
-
-
-
-
45,208
45,208
-
-
29,280
88
-
-
29,368
-
-
-
17,000
-
-
17,000
-
-
-
9,000
-
-
9,000
-
85,594
-
-
-
-
85,594
-
-
-
-
10,100
11,995
22,095
-
-
-
-
-
1,939
1,939
-
-
-
-
3,033
16,182
19,215
-
-
-
-
-
1,923
1,923
-
-
-
-
-
3,488
3,488
61,287
301,474
170,664
69,365
13,133
282,718
898,641
30,832
154,753
86,798
23,468
(13,133)
(282,718)
-
92,119
456,227
257,462
92,833
-
-
898,641

Expenditure has been restated in the prior year to reclassify costs between charitable activities and raising funds to more accurately reflect the time and resources spent on these activities. This has no impact on net income.

World Book Day Limited

For the year ended 30 June 2024 39

8 Net movement in funds

This is stated after charging:

Depreciation
Trustees’ remuneration (excluding VAT):
Trustees’ reimbursed expenses
Auditors’ remuneration
Statutory audit (excluding VAT)
This is stated afer charging:		 2024
2023
£
£
1,506
1,436
Nil
Nil
Nil
Nil
7,200
8,600

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

9 Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Staf costs were as follows:
The number of employees who earned more than £60,000 during the year were as follows:
£80,001 - £90,000		 2024
2023
£
£
292,164
261,604
25,315
17,964
13,675
11,739
331,154
291,307
2024
2023
No.
No.
1
1

The key management personnel of the charitable company comprose the Trustees and Senior Leadership Team. The total employee benefits of the key management personnel were £291,403 (2023: £249,604).

Average head count 2024
2023
No.
No.
6
6

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

World Book Day Limited

For the year ended 30 June 2024 40

11 Tangible fixed assets

12 Debtors
Trade debtors
Prepayments
Other debtors
13 Creditors: amounts due within 1 year
Trade creditors
Other taxation and social security
Accruals
Deferred income (note 14)
Other creditors

Cost
At 1 July 2023
Additions in year
At 30 June 2024
Depreciation
At 1 July 2023
Charge for the year
At 30 June 2024
Net book value
At 30 June 2024
At 30 June 2023		 2024
£
82,032
1,975
462		 £
4,991
523
5,514
2,458
1,506
3,964
1,550
2,533
Computer
equipment
2023
£
80,681
20,314
6,642
84,469 107,637
2024
£
7,992
7,819
26,011
67,300
8,642		 2023
£
1,083
9,844
31,807
-
3,596
117,764 46,330

World Book Day Limited

For the year ended 30 June 2024 41

14 Deferred income

14 Deferred income
At 1 July 2023
Deferred during the year
Released during the year
At 30 June 2024		 2024
2023
£
£
-
-
67,300
-
-
-
67,300
-

Deferred income relates to sponsorship paid in advance for World Book Day 2025.

15 Analysis of net assets between funds

Restricted funds Designated funds General funds Total funds
£ £ £ £
Tangible fxed assets - - 1,550 1,550
Current assets 27,559 17,500 358,168 403,227
Current liabilities (5,059) - (112,705) (117,764)
Net assets at 30 June 2024 22,500 17,500 247,013 287,013
Prior period comparative Restricted funds Designated funds General funds Total funds
£ £ £ £
Tangible fxed assets - - 2,533 2,533
Current assets 20,000 - 293,042 313,042
Current liabilities - - (46,330) (46,330)
Net assets at 30 June 2023 20,000 - 249,245 269,245

World Book Day Limited

For the year ended 30 June 2024 42

16 Movements in funds

Restricted funds
The Foyle Foundation
Arts Council England
Charity of Sir Richard Whitington
J H Rausing
Other donations
Total restricted funds
Unrestricted funds
Designated funds:
Brand and values project
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 July 2023
Income
Expenditure
Transfers between funds
At 30 June 2024
£
£
£
£
£
20,000
-
(20,000)
-
-
-
20,561
(20,561)
-
-
-
45,000
(22,500)
-
22,500
-
45,027
(45,027)
-
-
-
8,953
(8,953)
-
-
20,000
119,541
(117,041)
-
22,500
-
-
-
17,500
17,500
-
-
-
17,500
17,500
249,245
943,958
(928,690)
(17,500)
247,013
249,245
943,958
(928,690)
-
264,513
269,245
1,063,499
(1,045,731)
-
287,013

Purposes of restricted funds

The Foyle Foundation - funding was used to support the transition of World Book Day from a day’s celebration into a year round charitable cause – a reading movement, changing attitudes and behaviours to encourage reading for pleasure.

Arts Council England - funding was used to explore and improve the role that reading plays in the lives of children, to reach less engaged readers and disadvantaged communities through 4 events held in libraries across the country to encourage reading and access to books.

Charity of Sir Richard Whittington - funding was used to employ a full time education manager to develop and provide evidence-based reading for pleasure teaching resources.

J H Rausing - funding was used to explore and improve the role that reading plays in the lives of children, reaching less engaged readers and disadvantaged communities by partnering libraries with schools and creating events across the country to encourage reading and access to books with the World Book Day in a Box offering.

Other donations is made up of: Hiscox - funding was used to support the World Book Day in a Box offering that was developed this year. Mo Siewcharran - funding was used to support the role of a trainee administrator during the year.

World Book Day Limited

For the year ended 30 June 2024 43

16 Movements in funds (continued) Purposes of designated funds

The designated fund will be used to enable a brand and values project to develop brand positioning, language and tone of voice for the charity.

Prior period comparative

Prior period comparative
Restricted funds
Charity of Sir Richard Whitington
Arts Council England
The Foyle Foundation
Other donations
Total restricted funds
Unrestricted funds
General funds
Total funds		 At 1 July 2022
Income
Expenditure
Transfers between funds
At 30 June 2023
£
£
£
£
£
36,695
45,000
(81,703)
8
-
-
9,436
-
(9,436)
-
-
40,000
(20,000)
-
20,000
-
7,000
(7,000)
-
-
36,695
101,436
(108,703)
(9,428)
20,000
221,393
808,362
(789,938)
9,428
249,245
258,088
909,798
(898,641)
-
269,245

17 Related party transactions

The charity is supported by The Booksellers Association (BA) and The Publishers Association (PA). Both the BA & PA have three members each appointed as trustees of the charity during the year.

The charity received administrative assistance free of charge from both the BA and the PA. The charity has estimated this at £15,250 (2023: £15,240), and is included within the donated services in the year.

During the year, the charity received sponsorship income of £165,891 (2023: £156,500) from Book Tokens Limited, a wholly owned subsidiary of BA. As at 30 June 2024, no amounts (2023: £Nil) were outstanding between the charity and Book Tokens Limited.

During the year, the charity received sponsorship income of £86,912 (2023: £62,353) from Hachette UK, a company of which the trustee A Bond is a director. As at 30 June 2024, no amounts (2023: £Nil) were outstanding between the charity and Hachette UK.

During the year, the charity paid for services received from National Literacy Trust £2,500 (2023: £3,512), a company of which the trustee J Douglas, is chief executive at the balance sheet date. As at 30 June 2024, no amounts (2023: £Nil) were outstanding between the charity and National Literacy Trust.

During the year, the charity received sponsorship income of £94,316 (2023: £94,724) from Penguin Random House, a company of which the trustee R Sinclair is a director. As at 30 June 2024, £1,468 (2023: £Nil) was outstanding between the charity and Penguin Random House.

During the year, the charity received sponsorship income of £8,798 (2023: £2,076) from Merlin Attractions Operations Ltd, a company of which the trustee W Obbard is a director. As at 30 June 2024, £10,588 (2023: £Nil) was outstanding between the charity and Merlin Attractions Operations Ltd.

a ~~Ee~~ World Book Day Limited For the year ended 30 June 2024

For the year ended 30 June 2024 44

With thanks EE ~~———————~~

Thank you to all involved in World Book Day from publishers, booksellers, librarians, educators, authors and illustrators to commercial partners, funders and everyone who generously gives their support to help change children’s lives through books and reading.

Come and talk to us about working together!

worldbookday.com

hi@worldbookday.com

Sign up for the World Book Day newsletter: www.worldbookday.com/newsletter-sign-up/

For commercial partnerships get in touch with Maya Maraj, Commercial Partnerships Manager: mmaraj@worldbookday.com

Registered address:

World Book Day Ltd 6 Bell Yard London WC2A 2JR

Registered charity number: 1079257 (England and Wales)

Registered company number: 03783095 (UK)

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