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|Trustees|||M Littleford|MBE, Chair|MBE, Chair||
|---|---|---|---|---|---|---|
||||P Kelly, Vice Chair||||
||||T Moody-Stuart||||
||||A Langley||||
||||D O'Gara||||
||||P Cocozza||||
||||S Hall||||
||||D Green||||
||||J Sanderson||||
||||M Abidin||||
||||V Owen (appointed||28|June 2022)|
||||M De Waal|(appointed||23 January 2023)|
|CEO|||K Napier MBE||||
|Finance, Commercial||and|D Giwa||||
|Business|Director||||||
|Creative Director|||D Hicks MBE||||
|Charity number|||1085443||||
|Company|number||3904882||||
|Registered|office||8 High Street||||
||||Brentwood||||
||||Essex||||
||||CM14 4AB||||
|Auditors|||M J Bushell|Audit|LLP||
||||8 High Street||||
||||Brentwood||||
||||Essex||||
||||CM14 4AB||||
|Bankers|||Lloyds Bank pic||||
||||High Street||||
||||Winchester||||
||||SO23 9DA||||
|||Page|
|---|---|---|
|Chair's report|||
|CEO's report|||
|Trustees'
report||3-15|
|Statement
ofTrustees'|responsibilities|16|
|Independent
auditor's|report|17 —19|
|Statement
offinancial|activities|20|
|Balance sheet||21|
|Statement
ofcash flows||22|
|Notes to the accounts||23-39|
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|||Notes|funds|funds|2023
F|2022f|
|Income and endowments|from:||||||
|Donations
and legacies|||592,664|27,384|620,048|505,883|
|Charitable
activities|||1,879,709|542,134|2,421,843|2,468,297|
|Investments|||1,402||1,402|134|
|Other income|||1,136||1,136|61|
|Total income|||2,474,911|569,518|3,044,429|2,974,375|
|Ex enditure on:|||||||
|Raising funds|||163,239||163,239|95,156|
|Charitable
activities|||2,307,592|1,184,668|3,492,260|2,728,472|
|Total resources expended|||2,470,831|1,184,668|3,655,499|2,823,628|
|Net income/(expenditure)|for the year/||||||
|Net movement
in funds|||4,080|(615,150)|(611,070)|150,747|
|Fund balances at 1 April 2022|||1,097,753|783,910|1,881,663|1,730,916|
|Fund balances at 31 March 2023|||1,101,833|168,760|1,270,593|1,881,663|
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|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Notes|||||
|Fixed assets|||||||||
|Tangible assets||||14||9,441||14,561|
|Current assets|||||||||
|Debtors||||15|1,162,583||1,219,424||
|Cash at bank and|in|hand|||1,293,339||1,909,067||
||||||2,455,922||3,128,491||
|Creditors: amounts||falling|due within|16|||||
|one year|||||(1,194,770)||(1,261,389)||
|Net current assets||||||1,261,152||1,867,102|
|Total assets less|current||liabilities|||1,270,593||1,881,663|
|Income funds|||||||||
|Restricted funds||||19||168,760||783,910|
|Unrestricted
funds||||||1,101,833||1,097,753|
|||||||1,270,593||1,881,663|
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||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|||||
|Cash flows from operating||||activities||||||
|Cash (absorbed||by)/generated||from|23|||||
|operations|||||||(614,999)||146,893|
|Investing|activities|||||||||
|Purchase|oftangible
fixed||assets|||(2,131)||(13,410)||
|Interest received||||||1,402||134||
|Net cash|used|in investing||activities|||(729)||(13,276)|
|Net cash|used|in financing||activities||||||
|Net (decrease)/increase|||in|cash and cash||||||
|equivalents|||||||(615,728)||133,617|
|Cash and|cash equivalents||at beginning||of year||1,909,067||1,775,450|
|Cash and|cash|equivalents||at end of|year||1,293,339||1,909,067|
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|2023|2022f|
|Donations
and gifts||43,523|27,384|70,907|21,742|
|Grants receivable
for core activities||549,141||549,141|484,141|
|||592,664|27,384|620,048|505,883|
|For the year ended 31 March|2022|495,883|10,000||505,883|
|Grants receivable for core activities||||||
|Arts Council England
(Revenue|Grant)|484,141||484,141|484,141|
|Garfield Weston Foundation||50,000||50,000||
|Aura Leisure and Libraries||15,000||15,000||
|||549,141||549,141|484,141|
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|||Life Skills 8|Health
&|Connected|Other|Total|Total|
|---|---|---|---|---|---|---|---|
|||Learning|Wellbeing|Communities||2023|2022|
|Sales within|charitable|||||||
|activities||1,271,727|63,279|503,537|46,166|1,884,709|1,361,513|
|Performance|related|||||||
|grants||384,634|60,000|92,500||537,134|1,106,784|
|||1,656,361|123,279|596,037|46,166|2,421,843|2,468,297|
|Analysis
by|fund|||||||
|Unrestricted|funds|1,266,727|63,279|503,537|46,166|1,879,709||
|Restricted funds||389,634|60,000|92,500||542,134||
|||1,656,361|123,279|596,037|46,166|2,421,843||
|For the year|ended 31|||||||
|March 2022||||||||
|Unrestricted|funds|1,014,220|69,088|278,205|||1,361,513|
|Restricted
funds||282,356|701,928|122,500|||1,106,784|
|||1,296,576|771,016|400,705|||2,468,297|
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|Charitable
activities|||||||(Continued)|
|---|---|---|---|---|---|---|---|
||Life Skills &|Health|&|Connected|Other|Total|Total|
||Learning|Wellbeing||Communities||2023|2022|
||||||||f.|
|Performance
related grants||||||||
|Arts Council England||||||||
|(Grants for the Arts)|58,941|||92,500||151,441|208,264|
|Balcombe Trust|15,000|||||15,000||
|Charity ofSir Richard||||||||
|Whittington|75,000|||||75,000|75,000|
|Cyngor Llyfrau Cymru-||||||||
|Books Council ofWales|12,309|||||12,309|12,963|
|Department
ofCulture,||||||||
|Media and Sport|||||||30,000|
|Goldsmiths|||||||20,000|
|Libraries Connected||60,000||||60,000|60,000|
|Open University|5,205|||||5,205||
|Science 8 Technology||||||||
|Facilities Council|12,179|||||12,179|58,629|
|Sigrid Rausing Trust|||||||25,000|
|Society of Chief||||||||
|Librarians
(Wales)|206,000|||||206,000|250,000|
|Welsh Government|||||||366,928|
||384,634|60,000||92,500||537,134|1,106,784|
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|5|Other income|Other income||||
|---|---|---|---|---|---|
|||||Unrestricted|Unrestricted|
|||||funds|funds|
|||||2023|2022|
|||||f|R|
||Royalties|||84|61|
||Other income|||1,052||
|||||1,136|61|
|6|Investments|||||
|||||Unrestricted|Unrestricted|
|||||funds|funds|
|||||2023|2022|
||||||F|
||Interest receivable|||1,402|134|
|7|Raising funds|||||
|||||2023|2022f|
||Fundraisin|and|ublici|||
||Staff costs|||100,405|68,066|
||Other fundraising||costs|31,982||
||Share ofsupport||costs (see note 9)|30,852|27,090|
|||||163,239|95,156|
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|||Life Skills &|Health &|Connected|Total|Total|
|---|---|---|---|---|---|---|
|||Learning|Wellbeing|Communities|2023|2022|
|||||||E|
|Staff costs||545,675|131,393|337,515|1,014,583|1,001,929|
|Programme
materials|including||||||
|distribution||938,707|327,663|71,008|1,337,378|890,060|
|Website development||24,297|480|33,520|58,297|77,602|
|Activities, events and|other operational||||||
|costs||"I68,296|17,741|239,106|425,143|324,761|
|||1,676,975|477,277|681,149|2,835,401|2,294,352|
|Share ofsupport costs (see note 9)||339,772|121,403|143,035|604,210|398,390|
|Share ofgovernance|costs (see note||||||
|9)||31,139|8,862|12,648|52,649|35,730|
|||2,047,886|607,542|836,832|3,492,260|2,728,472|
|Analysis
by fund|||||||
|Unrestricted
funds||1,527,556|136,184|643,852|2,307,592||
|Restricted funds||520,330|471,358|192,980|1,184,668||
|||2,047,886|60?,542|836,832|3,492,260||
|For the year ended|31 March 2022||||||
|Unrestricted
funds||1,246,849|148,317|338,529||1,733,695|
|Restricted funds||517,243|425,753|51,781||994,777|
|||1,764,092|574,070|390,310||2,728,472|
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|Support costs|||||||||
|---|---|---|---|---|---|---|---|---|
||||Support|Governance|Total|Total|Basis ofallocation||
||||costs
F|costs
E|2023f|2022
f|||
|Staff costs|||326,544|27,633|354,177|217,292|Time on activities||
|Depreciation|||7,251||7,251|5,381|Time on activities||
|Premises costs|||47,137||47,137|31,779|Time on activities||
|Communications|and PR||28,764||28,764|68,847|Time on activities||
|Irrecoverable
VAT|||15,116||15,116|24,853|Time on activities||
|Office and other|support||210,250||210,250|93,273|Time on activities||
|costs|||||||||
|Audit fees||||5,800|5,800|5,600|Governance||
|Accountancy||||1,458|1,458|1,695|Governance||
|Legal and professional||||17,758|17,758|12,490|Governance||
||||635,062|52,649|687,711|461,210|||
|Analysed
between:|||||||||
|Fundraising|||30,852||30,852|27,090|||
|Charitable
activities|||604,210|52,649|656,859|434,120|||
||||635,062|52,649|687,711|461,210|||
|Net (expenditure)/income|||||||2023|2022|
|Net (expenditure)/income||is|stated after|charging/(crediting):|||||
|Depreciation
of|owned tangible fixed assets||||||7,251|5,252|
|Loss on disposal|oftangible||fixed assets|||||129|
|Operating
lease|charges||||||43,322|24,689|
##
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|The analysis
ofauditor's|remuneration|remuneration|is as follows:|||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||K||
||||||I|||
|Fees payable to the company's||auditor|for the audit ofthe company's|annual||||
|accounts||||||5,800|5,600|
|Other assurance
services||||||1,500|700|
|Taxation compliance
services||||||300||
|All other non-audit
services||||||1,158|995|
|Total non-audit fees||||||2,958|1,695|
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|The average
monthly
number ofemployees
during the|year was:||
|---|---|---|
||2023|2022|
||Number|Number|
|Voluntary
income generation|||
|Life Skills 8 Learning|||
|Health 5Wellbeing|||
|Connected
Communities|||
|Governance|||
||27|24|
|Employment
costs|2023|2022|
|Wages and salaries|1,084,482|909,438|
|Other staff costs|219,433|241,591|
|Social security costs|111,600|90,813|
|Other pension costs|53,650|45,445|
||1,469,165|1,287,287|
|The num
were:|ber
of employees
whose annual
remuneration
wa|s F60,000 or more||
|---|---|---|---|
|||2023|2022|
|||Number|Number|
|Between|F60,000 and F70,000||1|
|Between|F70,000 and f80,000|||
|Between|280,000 and 690,000|||
|Between|F90,000 and F100,000|||
|Between|F100,000 and F110,000|||
|Between|f110,000 and 6120,000|||
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|14|Tangible fixed asset|s||||
|---|---|---|---|---|---|
|||||Computer
and office equipmentf||
||Cost|||||
||At 1 April 2022||||31,331|
||Additions||||2,131|
||At 31 March 2023||||33,462|
||Depreciation
and impairment|||||
||At 1 April 2022||||16,770|
||Depreciation
charged|in the year|||7,251|
||At 31 March 2023||||24,021|
||Carrying
amount|||||
||At 31 March 2023||||9,441|
||At 31 March 2022||||14,561|
|15|Debtors|||||
|||||2023|2022|
||Amounts
falling due|within one year:||||
||Trade debtors|||504,946|398,295|
||Other debtors|||1,000|1,000|
||Prepayments
and accrued income|||656,637|820,129|
|||||1,162,583|1,219,424|
|16|Creditors: amounts|falling due within one year||||
|||||2023|2022|
||||Notes||K|
||Other taxation and social security|||75,928|118,340|
||Deferred income||17|508,509|696,605|
||Trade creditors|||378,573|232,620|
||Accruals and deferred|income||231,760|213,824|
|||||1,194,770|1,261,389|
##
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|Deferred income|||
|---|---|---|
|||Other deferred|
|||income|
|At 1 April 2022||696,605|
|Released
in year||(696,605)|
|Deferred
in year||508,509|
|At 31 March 2023||508,509|
|The deferred
income relates to income for projects taking place in the next period where the charity is not yet|||
|entitled to the use ofthe resources.|||
|The amounts
deferred at the year end are|as follows:||
|Summer
Reading Challenge 2023||431,424|
|Donations
(World Book Night)||29,250|
|Fees (Radio 2 Book Club, Big Eurovision|Read, Reading Partners)|43,998|
|Subscriptions
(Reading
Friends)||3,837|
|||508,509|
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|non-cancellable
operating
leases, which fall due as follow|s:||
|---|---|---|
||2023f|2022f|
|Within one year|27,000|27,000|
|Between two and five years|66,279|93,279|
||93,279|120,279|
##
|||2023|2022|
|---|---|---|---|
|Aggregate|compensation|304,398|251,748|
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|23|Cash generated
from|operations|operations|operations||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||||F|F|
||(Deficit)/surpus
for the|year||||||(611,070)|150,747|
||Adjustments
for:|||||||||
||Investment
income recognised||in|statement||offinancial|activities|(1,402)|(134)|
||(Gain)/loss
on disposal|oftangible|||fixed assets||||129|
||Depreciation
and impairment
oftangible fixed assets|||||||7,251|5,252|
||Movements
in working|capital:||||||||
||Decrease
in debtors|||||||56,841|24,230|
||Increase/(decrease)
in|creditors||||||121,477|(214,788)|
||(Decrease)/increase
in|deferred|income|||||(188,096)|181,457|
||Cash (absorbed
by)/generated|||from operations||||(614,999)|146,893|
|24|Analysis ofchanges|in net funds||||||||
||The charity
had no debt during||the||year.|||||