Registered number.. 04385537 Charity number: 1092698 The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Trustees. Report and Financial Statements Forthe Year Ended 31 August 2024
The Centre for Literacy in Primary Education IA Company Limited by Guarantee) Contents Page Reference and Administrative Details Trustees, Report Indèpendent Auditor's Report 15 ststement of Financial Activitiès 19 Balance Sheet 20 Statement of Cash Flows 21 Note5 to the Financial Statements 22
The Centre for Literacy in Primary Education {A Company Llmlted by Guarantee) Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 August 2024 Trustees Sonja Afzal Antonia Byatt Elizabeth Catford Jackie Gillan resigned 31.08.2023 Bevedey Greathead - Vice Chair of Trustees and Chair of the Operations Committee Catherine Rose- Chair of Truslees Justin Shinebourne - Chair of Finance Committee- resigned 31.12.2024 Cecilia Weiler Ronnie Woods Rukhsana Yasmin Mark Wharrier Chair of Finance Committee - joined September 2024 Emily Guille-marrell - joined Oclober 2024 Company registered number 04385537 Charity registerèd number 1092698 Registered offlce Webber Street London SE18QW Company Secretary Rachel Doran - resigned 31 December 2024 Chief executive officer Rebecca Eaves - appointed 6th December 2023. Indèpendent auditor Goldwins Llmited 75 Maygrove Road London NW6 2EG Pagel 1
The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Reference and Administrative Details {continuedl For the Year Ended 31 August 2024 Bankers Barclays Bank plc 53 The Broadway London W5 5JS Sanlander Business Banking Brid le Road Boolle Liverpool L30 4GB Solicitors Bates Wells 10 Queen Slreet Place London EC4R 1BE Pagel 2
The Centre for Literacy in Primary Education IA Company Llmlted by Guarantee) Trustees Report For thè Year Ended 31 August 2024 The Truslees, who are also directors of the charity forthe purposes of the Companies Act 2006, present their annual report together with the audited f inancial statements of the charity f or the year end ed 31 August 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with Ihe current slalutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice ISORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rep ublic of Ireland {FRS 102) (eff eclive1 January 2015) as amended by Update Bulletin 1 {effeGtive 1 January 2015) and update Bulletin 2 (effective l January 2019). Since the charity qualifies as small under seGtlon 383. the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directols Report) Regulations 2013 is not required. Catherine Rose, Chair of Trustees l am delighted to have continued the position of Chair of Trustees through the year 2023-2024, alongside Bevedey Grealhead as Vice-chair of Trustees. We continue lo be both excited and commilled to ensuring all children benef it f rom the absolute best literacy leaching which encourages a lif elong love of reading and writing. Through 2023-24 we were delighted to see the value and importance of CLPE'S work recognised in the awarding of National Portfolio Organisation {NPOI status by The Arts Council England and embarked on the first year of what We hope will be an ongoing and fruitful partnership. The NPO status allows us to continue our ground breaking Ref lecting Realities, Power of Pictures and Poetry work as well as suslain our inspiring in print library and poetry archive in our home in Webber Street. In July 2024, we were excited to retum to The National Theatre to host our poetry award, the CLIPPA. The live audience of over 1,200 were joined by an extended online audience who watched the event livestreamed from homes and classrooms and saw the 5 shortlisted poets perform, alongside the children who won the 2024 shadowing scheme. We buill on what we had leaml about ways in which schools access our programme and patterns of engagement and continued to develop our online programme which provides add ilional content and another roule for schools to access ourwork. More schools, in more places than ever before can now take part in our CPD, in our poetry and picture book work and benefit from our research. Whilst we've continued to work with closely with schools, teachers and funde throughout the year, il has also been a year of continued change at the Cenlre. Having said farewell to our Chief Executive, Louise Johns- Shepherd in August 2023, two members of the Senior Leadership Team, Farrah Serroukh and Charlolle Hacking. stepped up as joint interim Chief Exècutives, ably supported by Finance and Operations Director, Rachel Doran, as Trustees embarked on Iheir search f or 8 new Chief Executive. We're enormou sly g rateful for the add itiona work they undertook during this period and the manner in which they welcomed and supported our new Chief Executive, Rebecca Eaves, who joined us in January 2024. Aftera 30 year career in marketing and advertising, RebeGca b roughl marketing acumen, commercial rigour as well as passion for child ren's literacy to the role. She was alsojoined in January bysarah James who returned from malemity leave as Marketing and Communications Director. The Centre also welcomed a third tenant to the burgeoning Literacy Hub at Webber Street, wth the Children's Literacy Charity moving into Cowell room in Aug ust 2024. Sadly, however, the Ghallenging market has meant we have made some difficult decisions regarding other members of staff. making two of our marketing team Lindsey Gadwah and Kiri Gray redundant In January 2024, followed byJamie Wraight and Jonathan Rodgers of theteaching team in May 2024. These team members are keenly missed, though we're gratef ul lo Jonny in partlGular for his conlinued support to the teaching leam on a f reelance basis. At Trustees level. we were delighted to be joined by Mark Wharr¢er in September 2024, bringing a wealth of f inancial experience and expertise to the board and in particular the Finance Committee and Emily Guille-marrett in October 2024 who has deep knowledge of the educational publishing sector. We're also grateful to Jackie Gillan for her work with us as a Non-voting Member of our Board. We are pleased to share details of the CLPE'S impact with you and proud of the ways in which our research, our resources and our training Gontinue to impact on literacy teaching across the country ensuring that all children Pagel 3
The Centre for Literacy in Primary Education (A Company Llmlted by Guarantee) Trustees Report For the Year Ended 31 August 2024 benefil from our worf<. Our Team The CLPE team is made up of teachers, librarians, communicators, project managers and adminislralors from a range of backgrounds working together in a beautif ul old school building in the very middle of London. All our teaching team have recent classroom and leadership experienGe and they use this to support their research. writing and development of all our courses and materials. As al September 2024 we have a staff of 13 people in full and part time positions as well as a wder team of Associate Teachers working with us around the country. We have 19 Associate Schools who are beacons of practice across England where schools can visit and see CLPE practice thriving. We have a wider team of associates working with us to support the delivery of our extended programme, fundraise, research and support our marketing and communications work. We continue to build partnerships with likeminded organisations ensuring our work and research is disseminated and communicated as widely as possible. Our Trustees We are a charity and govemed by a board of trustees. Our trustees meet fourtimes a year as an entire board, and we have two committees.. Finance & HR Committee and Operations & Evaluation Committee. Trustees also form smaller, time-limited special project committees lo support the imp lemenlation of our strategic plan a to lake f orward particular projecls. Our Trustees are commilled lo ensuring that we have Ihe full range of skilL8 and knowledge on our board and work to ensure we are implementing the principles of good govemance and working as an effective board. Our board have led the recruitment process fora new Chief Executive to ensure that the charity nol only sustains slability in a time of change but can also achieve ambitious growth targets f or the future. We have been keen to ensure that our work is guided by delivering our Slrategic Plan and Tnjslees work with the slaf f to ensure that our organisation and staf f ing is f it f or purpose as we move f otward to f uture years and on our strategic priorities as we fulfil the commitments of our Arts Council National Portfolio Organisation status. CLPE Trustees Sonja Afzal Anlonia Byall Elizabeth Catford Jackie Gillan resigned 31.08.2023 Emily Guille-marrett - joined October 2024 Beverley Greathead - Vice Chair of TTUStees and Chair of the Operations Committee Catherine Rose- Chair of Trustees Justin Shineboume Chair of Finance Committee- resigned 31.12.2024 Cecilia Weiler Mark Wharrier Ronnie Woods Rukhsana Yasmin Chair of Finance Committee -loined September 2024 Company Secretary.. Rachel Doran (Finance & Operations Director) Pagel 4
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 2023 - 2024 Review of the Year and Impact The Centre for Literacy in Primary Education is a U K based children's literacy charity working with early years and primary schools across the country and internationally. Ourwork raises the achievement of children's reading and writing by helping schools to teach lite racy creatively and effective Iv, supporting children to read and write for purpose and for pleasure. We run professional development courses and research programmes at our literacy library in ce ntral London and provide a wide range of teachin g resources for Primary teachers. We also conduct research into all areas of primary literacy, using the f indings to inform practice and contribute to national and international perspectives on literacy. Our research showsthat children's attainment levels in readingand writing improve when they have access to quality experiences of literacy, using quality child ren's books and that all teachers have the knowledge and resources to support children become confident, happy and enthusiastic readers and writers. OurTeacherTraining and Development Programmes: Ou r training and resou rces are all based on extensive, externally validated research and on the principles of effective continuing professional developme nt. In the academic year 2023-2024 397 teachers attended a face-to-face training course 2270 books given away as part of CLPE training programmes 1493 attendees on our online training programme 54 schools, nationally and internationally had l NSET training delivered by the CLPE Team IOOO/o of respondents rated our In Person training as effective IOOOA of respondents would recommend our In Person training to someone else 970A of respondents rated our online training as effective 98 %of respondents would recommend ouronline trainingto someone else No one school is the some and what is greot obout CLPEand the troining on offer, is thot theyrecognise this. There is always on emphasis on meeting the needs of the current cohort and what they specifically need as opposed to a one fits all approach. English Subject Leader, Literacy Leader Forum 2023-24 This was an amazing course that sent me away 'buzzing' with excitement. Learnt how to move the reoding into writing, lots of ideas to use with the book and then tronsfer to other books. This will have great impact on moving wr£ting foNord in school. Teacher, Teaching Writing (in peyson course) 2023-24 There was so much information, and it was so comprehensively delivered. I will definitelybe thinking about lots of things thatwere said in the webinar, and will applythe things I have learned to mypractice. Teacher, CLPE Online Training2023-24 An inspirational course with high qualityliterature shared-givingteachers clearstrategies forhow to implement the teachingideas in the classrooml Great trainerwho was very inform8tive. The ideas are all backedup with evidence andresearch which helpedme to learn and it hasgiven me the confidence to tryout lots of newide8S Wlth the children. Teachers, CLPE INSET Days 2023-24 Pagel 5
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 CLPE'S Power of ReadingTraining and School Membership: CLPE'S research around the importance of using q u31ity texts as the basis for English planning and quality teaching is pivotal to our f lag5h ip training programme, The Powe r of Reading. The programme supports and trains teachers to develop a whole class cu rriculum for the teaching of English. Using high q uality childre n's literature, the Power of Reading, now entering Its twentieth year, drives engagement and attainmentforall children in oracy, reading and writing. 160 teachers attended Power of Reading training in 2023-24 1 OOO/y of teachers were introduced lo new authors, illustrators and poets 8nd were inspired tr) seek out new texts. 98°/0 of teachers im proved their knowledge of books and authors 98°/o of teachers and headleachers would recom mend our Power of Reading training to someone else 98°/o of teachers reported that the programme improved their subject knowledge 990/0 of te8chers reported that the programme improved children's engagement in reading 98fj1• of teachers reported that the program me improved children's engagement in writing 9201ts of teachers reported that the program me raised chSldren's 8ttainmenl in reading 920/0 of teachers reported that the programme raised children's attainment in writing 94 10 of teachers reported Ghildren choosing to read more independenlly in school 78 10 of teacher8 reported children choosing to read more independenuy at home 925 schools subscribing to CLPE membership 75,801 individual f ree CLPE member5, including teachers and students, 71 new, free teaching resources developed and released 26 CLPE Associate Schools highlighting how to use the programme to build an effective English Curriculum Ourst8ff feel supported, empowered and itprovides a scaffold to develop theirEnglish pl8nningand subject knowledge. Ourchildren are enthusiastic andconfident to talk8bout their readingandwriting. Children who are reluctant readers at home, have expressed howmuch they enjoy readingbooks in School. Headteacher, Power of Reading 2023-24 The creative approach to teachingre8dingand writingincreased motlV8tion andengagement for students. Subsequently, attainment was higher in both readingand writing. Importantly, oracy skills are promotedwhich are keyto allare8s of literacy. In addition, the value of an entire book(not an extr8Ct, not a photocopy) is central to the teaGhingof literacyskills. Year 6, Teacher, Power of Reading 2023-24 In implementing the Power of Reading approaches the children enjoy sharing and celebrating their writing together and are confident and excited to do so. We are reallyproud thatevery child within KSI now sees themselves as a writer,. they are allmotivated to write and have a go. Their writing stamina andfluency has developed and they have become so invested in theirown journey as writers as wellas having excited anticipation of what will happen next-for themselves and within the text. Infant School Teacher, Power of Reading 2023-24 Pagel 6
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 External evaluatlon of the tTHining The rnost tent evidence of impact cornes from on independent evaluotlon by Leeds Trinity University" and shows thtst in schools porticip¢Jting in the Power of Reading Iraining.- Chlldrenmake n additlonts16 rhnthS pTts5 In reodSng ond wrttiNJ ThpprDyttsmme hos porknculDr lrnpaciof¢ pupllswho had prevlous been reluitunt io engogewith litemty The othlevemeDt gop between bDysand ylils 7ht&chlttnent gup betWEe odvantogedond dlsadvoTrtoge Flndthulthpir chlldrÈn choosetD re4d olten.at greuter len9th tsnd or¢ rnore (Dntident n lolWr9obOt arrowed $vJnificont irowed Publications Building on CLPE'S long standing reputation for publishing groundbreaking work in the literacy f ield, two major publications were released this year. The Balancing Act.. An Evidence-Based Approoch to Teaching Phonics, Reading and Writing authored by UCL'S ProfessorDomonicWyse and CLPE'S Learning and Programme Director, Charlotte Hacking was released in May 2024. DOMINIC WYSE HACKING al .The Act 4yQwT¢r J 11 The book centres on robust research that shows phonics should be taught hand-in-hand with readingand writing to encourage true literacy and a love of reading, not through narrow synthetic phonics. The underpinning research of 'The Double Helix of Teaching Reading and Writing, suggests an overhaul of the current system is necessary to bring the 'joy' back into reading,. motivating children to read and write is f oundational to the balanced approach, and it begins with engaging children through high quality books. CLPE'S 50 years of knowledge of high-quality books, teaching experience and research into what works in the classroom, has fed into this model and lies at the heartof our highly successfu I Powerof Reading programme, as well as ourwider portfolio of CPD and teaching resources. The BalancingAct Is an important book, which willmove the debate about reuding and writing teaching forward in one bound. Steve Wlllshaw agei i
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 Representation in Children s Literature.. Reflecting Realities in the Classroom, authored by our Research and Development Director, Farrah Serroukh, was re leased in April 2024. A practical handbook for teachers, the book explores what Reflecting Realities, teaches us and highlights how engage me nt with inclusive literature positively impacts school reading cultures and wider teaching and learning, The book is inspired both by our award-winning Ref lecting Realities research, the f irst U K study looking at dive rsity in children's lite rature and by the f indings f rom our Paul Hamlyn Foundation f unded Ref lecting Realities in the Classroom research project, working alongside 30 teachers over the past 3 years. We we re particularly delighted that the pu blication featu res a special f oreword by current Children's Laureate and CLPE Patron, Joseph Coelho, and cove r illustrations by author/illustrator and CLPE Patron, Ken Wilson- Max REVRESENFAIION GhlLDREN'S LITERATURE rivTAE IDA IITWCY IM PAIMIR¥lOUtITI A massively important book that needs to be read and discussed in primary schools across the country. Jon Biddle Pagel 8
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 Ref lecting Realities Since the first report in 2018, Ref lecting Realities, f unded by the Arts Council England annually identif ies and evaluates representation within picture books, f iction and non-f iction for age5 3-11. Its f indings provide a benchmark to track and understand progress and a toolkit to support both producers and consumers of children's literature to be more critically ref lective in the move towards a more inclusive f uture. I n Novembe r 2023, we celebrated the publication of the 6th re port. 3,195 children's picture books, f iction and non-fiction titles published in the U K in 2022 were e ligible for the consideration of this study. This is a marked reduction in eligible titles compared to the previous report. Of these titles, 954 featured racially minoritised characters. Keyfindings included.. 3(YA of the ch ildre n's titles published in 2022 featured racially minoritised characters, up f rom 4% in the f irst report in 2017, For the f irst year in its history the report showed a decrease in the presence of racially minoritised characte rs in pictu rebooks and non-f iction. This report welcomed and high lights the breadth of ge nres representing racially minoritised characters. C.T.PF. REFLECTING REALITIES Perr*intagtsolchlldTh.S Book5 Publtshedfeoturfng io 20° 30" Charait•f5 IFIG.IJ 2022 rl It is beyonda doubtthatthe biggestoutcomeof this thoughtful sustained, methodicalresearch has been the increase in well drawn, authentic, representations in children's books. Forty years on, wefinallyfeel we con pick ourbooksfrom the very best of the bestl Pagel 9
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 The National Poetry Centre for Primary Schools CLPE is the National Poetry Centre for Primary Schools, an honour bestowed upon us by our Patron, Michael Rose n during h 15 Children's Laureateship. We have an extensive collection of poetry f or children at our ce ntre and host a wide range of f ree resources on our we bsite, including vide05 of poets and teaching plans to he Ip teache rs teach poetry in primary schools. The importance of poetry is ce ntral to all ou r professional development programmes, because we believe it is centralto literacy learning and development. Across the academic year 2023- 2024, CLPE ran Anotheryear of Poetry with Michael Rosen; 6 twilight sessions attended by 16 teachers from 15 schools exploring the role, value and teaching of poetry and critically sharing how teachers teach it. The work of the schools, including strategies used and examples of practice shared through the year will be published as a brand new publication forteachers, eponymously named, in 2025. In 2023, CLPE also partnered with Macmillan Children's Books IMCBI to fund places for 10 teachers to attend our one-day poetry course, 'Teaching Poetry in Primary, led in partnership with award-winning poet Kate Wakeling. This incredible commitment from Macmillan follows our partnership work on The Big Amazing Poetry Project in 2022-23, and is in direct response to the finding from ourjoint poetry survey Poetry in Primury Schools 2023 that 61Yo of teachers have never had CPD on poetry. I really enjoyedthecourseas a wholeandthatl tookso much awayfrom it. One of the main points in my case study was the importance of providing teachers with high quality CPD, delivered by passionote experts and I think that's exactly what I gotfrom you, Michaeland everyone else. English Subject Leader, Another Yearwlth Poetry 2023-24 Really helpful ond engaging. CLPE is an inspiring place to be. So mony helpful things in this course. Even feeling the vulnerability as a writer, but how to scoffold to ease process. The poetry spine provided was brilliant and to see the books on display. Funded Teacher. Teaching Poetry in Primary with Kate Wakeling The CLPE Poetry Award, CLIPPA CLPE is also the proud home of CLiPPA- the Centre for Literacy in Primary Poetry Award and the only award for published children's poetry in the U K. Each year, publishers submit their children's poetry books and a panel of expert judges seSects a shortlist and the winner. Our Schools Shadowing Scheme runs alongside the CLIPPA, with more than 6000 children from over 300 schools across the country taking part each year, using the free teaching resources created for the shortlisted books to bring poetry to lif e in the classroom. The winning schools are given the opportunity to perform on stage with the shortlisted poets at the prestigious award show, hosted this year at the N ational Theatre and also livestreamed to wider audiences, In this, our 21"yearof the award.. 5 poetry collections we re shortlisted 1290 views of the online shortlist announcement 380 schools shadowed the CLIPPA 63 new poet videos were produced to support children's engagement with poetry in the classroom. 1056 audience members watched the live award show at the National Theatre 13,620 views of the livestreamed show in schools across the country The CLIPPA Shadowinggave themaddedreason toperform too. Theopportunityofperforming attheNational Theatre in London opened their eyes to the ovenues that were available to them if they really worked hard at it. The winning performance was all down to Daisy, Amelia and Faith.. they collected all their props, practiced together, they rehearsed, created their routine. It was wonderful to see them come together oversomething Page | 10
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 thatcame to meon so much to them, not only as this group of girls but as a class. Laura Hulme, Teacher of 2024Shadowing Scheme Winners CLIPPA is the only owordof its kind and really helps to elevate poets and writers. The shadowing scheme is an invaluable wayforchildren to engage andfallin love with poetry. To win this award is just beautiful. Matt Goodfellow, Winner of the CLIPPA 2024 CLPE: working with publishers and partners At CLPE, we want to develop close working relationships with key partners and publishers, to become the bridEe between schools and high-quality books. Our Literacy Library and Corebooks selections highlight the best of child ren's literature for the curricu lu m and book provision, curated by our librarian and expert teaching team. We work with 3 range of children's publishers and partners to produce teaching notes, promote high-quality books, host book launches and curate Literacy Library Presents events, as well our librarian recommending books through the Phoebe's Picks Instagram videos and booklists. 38 authors, illustrators and poets partnered with us in ourwork 13 book events took place to promote the use of quality literature 61 books were promoted with publishers 111 visitors were welcomed to use the Ilbrary The Power of Pictures In the impact report for 2022-2023, we released the findings from the Education Endowment Foundation IEEFI Randomised Control Trial of The Power of Pictures programme, which supports teacher's knowledge and unde rstanding of how to deve lop visual literacy, reading comprehe nsion and the teach ing of creative writing. The f indings evide nced progress in outcomes for literacy forch ildren who took part in the project and evidence of a link between creativity and drawing and writing. In 2023-24, through our NPO fundingfromThe Arts Council England, we continued the training programme with re nowned author-illustratoryij ing Li for our face-to-face course and Nadia Shireen forthe online training. 5 new videos of author/illustrators added to the Powe r of Pictures resources 3 new teachingsequences developed It has been fantastic to workalongside an authorandfind out about the process of writinga story- inspirational. It has also been brilliant to have time to try out ideas andtechniques which can then be used with the children. Teacher, Power of Pictures with Yijing Li 2023-24 Plans for future periods To ensure our sustainability and to make sure that we can continue lo offer a range of high q uality prof essional development to teachers, we will Gontinue to offer a full programme of online training alongside our f ace-lo-f ace training, and to focus on making our Membership programme a value for money access route to all our resources f or schools, that are continuously updated with our lalesl research f indings. Our online programme and our Membership support schools to access our services in an affordable way when the current economic landscape stretches school budgets and makes attendance al f ace-to-f ace training challenging. We were pleased lo achieve Nation81 Porlfolio Organisation status from Arts Council England and we plan to build on this recognition with our continued research into the importance of inclusive children's books, the signif icance of picture books to developing literacy and our renowned work highlighting children's poetry. Core f unding from ACE and other trusts and foundations will help us to ensure we can maintain Ihe q uality of our f ree resources and to subsid ise our activities so that we can avoid price increases on our courses if possible. We Pagel 11
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 have continued lo benef it f rom f unding f or our research prog rammes in Early Language and inclusive literature and are planning new research projects to support our work in the future. This funding for research ensures we can continue to add to ourexpert knowledge and disseminate that new knowledge to ourcommunity of SchooLs, Teachers and Partners. Public benefit The Charity has had regard to the Charity Commission's guidance on public benefit. We work to improve the Ilf e chances of child ren by ensuring that every child has access to q uality experiences of literacy and that all teachers have the knowledge and resources to support children become confident, happy and enthusiastic readers and writers, with all the benef ils this brings. We help schools to leach literacy in the most ef fective way. Our training and resources are all based on credible research and on the principles of eff ective continuing prof essional development. All the money we make from ourtraining courses and materials is used to add to ourfree resources. fund research and f ind out more aboul how to support child ren's developing literacy. We've continued to work with First Story and the Fair Education Alliance, as part of a Literacy Advocacy Gmup to bring together key literacy organisations to make the case f orf ulure and f urther government f unding f orsupport for teachers and develop a manifesto for change. We have also mainlained and developed partnerships with independent booksellers includ ing Letterbox Library. Pelels Books, and Love Reading f or Kids which delivers discounts f or schools on quality texts ordered f rom the Corebooks selections on our website. Financial Revlew The unrestricted def icit f or the year amounled to £77k versus £139k unrestricted def icit in the previous f inancial year. Despite expectations of a post-pandemic recovery leading to increased school investment in courses and resources, this has continued to be illusive. As long as school budgets remain lig ht, the enhancement of literacy provision by teacher training is often perceived as a luxury that many schools forego. Conseq uently, there has been continued weakness in Ihe purchase of our training and resources, resulting in a reduction in income f rom unrestricted training and associated activities of 10 % compared to the previous year. Income f rom our premises accounts f or 13,/0 of total income12021122: 7 % I following increased tenant income. We would also like to acknowledge the support of Southwark Council in rent relief provided towards the end of the year. In response to decreased training and resource purchases, we have undertaken further staff headcount reductions. This strategic measure aims lo address the imbalance between our income and expenditure, working towards achieving, al a minimum, a break-even position f or the next f inancial year. Throughout this period, we wll actively seek f inancial support throug h charitable f unding and paid partnerships to sustain our mission of advancing pedagogy and supporting schools. In the medium term, our focus is on expanding and improving our Membership off er and broadening our outreach lo schools. with the aim of retuming our core seNices to self-f unded sustainability. Followng the f inancial year end the Trustees cond ucted a strategic review of our activities and concluded Ihe long term interests of all stakeholders and charitable purpose would best be secured by seeking a combination with another organisation which shares our charitable purpose. During this period the Trustee Board has met on a weekly basis and closely monitored the f inancial position of the charily. Going concarn The charity is currently in advanced negotiations with another UK education charity on a combination of bolh organisations. In this context, the Trustees are conf ident that the charity is a going concern on the basis that the organisation can continue to meet ils obligations f or the foreseeable f ulure. Trustees receive the f inance reports eaGh term, and consider major dependencies and potential mitigations within Ihe risk assessment reviewed at each meeling. Page | 12
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 Investment Policy The charity's f unds are expected lo be spent in the medlum term, so there are no f unds held in Inveslmenls. CLPE is placing availab le cash into short term savings accounts to benef it f rorn increased interest rates now available. ReseNes Policy This policy is reviewed regularly in line with our slrategic plan. The current lotal reseNes stand al £25,658. In deciding the level of resetves that the charity needs to hold, the Irustees consider what the reseNes are represented by in terms of net assets. and therefore what f unds are f reely available lo spend on any of the charity's purposes. The Trustees consider the f unds f reely available to spend, to be limited to the unrestricted f und balance and the net value of assets and liabililies that represent cash, or are read ily converted into cash. On this basis, cash f unds available exceed our total reseNes, theref ore the Trustees consider the f ull £25,658 total reserves are available reserves. Historically, the charity had a reserves policy to hold three months operating expenditure plus three months rent, policy which has proved challenging given deficits at an operating level. Given the oharity is in advanced discussions on a polential combination with another charity, the policy will be reviewed following completion of this transaction. structure, Governance and Management Recrultment and Appolntment of Trustees At year end there were 9 Trustees for the Gharity who share their extensive expertise from backgrounds in education, publishing, f inance, law, public relations, third sector and local government to support the work of the charity. Tnstees reviewed the skills, knowledge and expertise of the board as well as the committee structure lo ensure thal the board is f il f or purpose to deliver our strategic plan. Our Chair and Vice-chair of Twstees undertook their f irst year of leadership and led the search f or and appointment of a new Chief Executive as well as the recruitment of Iwo new Trustees, Mark Wharrier and Emily Guille-marrett to join the board in Autumn 2024 Risk Management Throughout the year, the Board of Trustees has conducted regular reviews of the major risks lo which the charity is exposed. A risk register is discussed al every Trustee meeting and updated as a consequence of these disGussions. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. While we continue to benefit f rom support f rom funders, enabling CLPE lo maintain and improve our services, this is identif led as a risk as the availability of f und ing can be i nconsistent. In the current climate f or charities and schoo Is, our plan for our core seNices lo be f ully self -sustaining is expected lo take a f urther three years. Intemal control risks are minimised by ad herence to our Manual of Authorities. Procedures are in place to ensure compliance with health and safety of staff , volunteers. clients and visitors to the centre. These procedures are period ically reviewed to ensure that they continue to meet the needs of the charity. Organisational Structure The Charttable Trusl was set up in November 2001 when the organisalion was transferred from Local Education Authority {LEA) control. CLPE is a reg islered charily and a company limited by guarantee. Its reg istered off I is as shown on page l. It is govemed by its Articles of Association. The management of the Charity is the responsibility of the Trustees who are appointed under the terms of the Articles of Association. The CLPE has a Board of Trustees that meels each temi, in addition to temily meetings of the Finance & HR committee and the Operations & Evaluation Committee. Trustees are provided with an induction pack which includes the Articles of the Company. inf OnatIOn about the duties and responsibilities of charity trustees and f urther inf ormalion f rom the Charities Commission. There are currently 9 Trustees with a variety of professional backgrounds relevant to the work of the charity. There are special projects groups convened by the board lo develop various projecls and the longer-tem Page113
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 strategy. These groups are advisory rather than a decision-making bodies but do have terms of reference agreed by the f ull trustee board and report to the f ull trustee meelings. Day lo day responsibility f or the provision of Ihe seNiGes rests with the Chief Executive along with the Senior Leadership Team. This is guided by a Manual of Authorities which is reviewed regulady. The Chief Executive is responsible f or ensuring that the charity delivers against its charitable objectives and that key perfomiance indicators are met. The Senior Leadership Team has responsibility for the day-to-day operational management of the Centre, income generation and individ ual supervision and development of the staff team. Responsibilities of Trustees The Trustees (who are the directors of The Centre for Literacy in Primary Education for the purposes of company law) are responsible f or preparing the Annual Report and the f inancial statements in accordance wth applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires Ihe TNstees to prepare financial stalemenls foreach financial year, which give a true and f airview of the state of aff airs of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been follow8d, subject to any material departures disclosed and explained in the f inancial statements., prepare the f inancial statements on the going concem basis unless il is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are suff icient to show and explain the Charitable company's transactions and d isclose with reasonable accuracy at any time the f inancial positK)n of Ihe charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible forsafeguarding the assets of the charitable company and hence fortakirYJ reasonable steps f or the detection and prevention of f raud and other irreg ularities. Statement of disclosure of informatlon to auditors The Trustees have conf irmed that. so f ar as they are aware. there is no relevant aud it information of which the Company's auditors are unaware, and that they have taken all the steps that they ought lo have taken as directors in ord er to make themselves aware of any relevant audit inf ormation and to establish that the Company's auditors are aware of that informalion. Preparation of the report This report of the Trustees has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006. Audltors The trustees have appointed Goldwins as their auditors. Goldwins have accepted this appointment under Section 485 of the Companies Act 2006. This report was approved and aulhorised forissue by the Tnjstees on and signed on their beha herine Rose Chair of Trustees Opinion Page | 14
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 We have audited the financial statements of The Centre for Literacy in Primary Education (the 'charitable company'l f or the year ended 31 Aug LJSI 2024 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements, including a summary of slgnif icant accounting policies. The f inancial reporting f ramework 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 Kingdorn Generally Accept Accounting Practice). In our opinion the f inancial statements.. g ive a true and fair view of the stale of the charitable company's af fairs as at 31 August 2024 and of its income and expenditure for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance wth the requirements of the Companies Act 2006. Basis for opinion We conducted our aud it in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicabb law. Our responsibilities under those standards are f urther described in Ihe Aud ilorfs responsibilities f orthe aud it of the f inancial slatements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suff icient and appropriate to provide a basis f or our opinion. Material uncertainty relating to going concern We draw altention to Note 1.16 in the f inancial stalemenls, which indicates that there is a material uncertainty due to low level of reseNes. The charity is currently in advanced negoliations with another UK ed ucation charity on a combination of both organisations. In this context, the Trustees are Gonf ident that the charity is a goir¥J concern on the basis that the organisation can continue to meet its obligations f or the f oreseeable f uture. This maller as sel forth in note 1.16 may cast significant doubt on the company's ability to continue as a going concem. Our opinion is not modif led in respect of this matter. In auditing the financial statements, we have concluded that Ihe direclorfs use of the going concern basis of accounting in the preparation of the f inancial statements is appropriate. Our responsibilities and the responsibilities of the directors with respect to going concem are described in the relevant sections of this report. Other informatlon The other infomation comprises the inf omation included in the trustees, annual report other than the f inancial statements and our auditorfs report thereon. The trustees are responsible for the other inf omation contained within the annual report. Our opinion on Ihe f inancial statements does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inf omiation and, in doing so, consider whether Ihe other inf ormation is materially inconsistent with the f inancial statements or our knowledge obtained in the course of the aud it, or otherwise appears to be materially misstated. If we identify such material inconsislenGies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the f inancial statements themselves. If, based on the work w8 have performed, we conclude that there is a material Page | 15
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 misstatement of this other information, we are required to report that f act. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report which includes the direclors, prep8red for the purposes of company law, for the financial year f or which the f inancial statements are prepared is consistent with the f inancial stalements. and the directors, report included wthin the trustees, report has Ihave] been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identif led material misstatements in the Trustees, Report. We have nothing to report in respect of thef ollowing tnatters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate forouraudit have notbeen received f rom branches not visited by us,. or the f inancial statements are not in agreement with the accounting records and retums., or certain d isclosures of Trustees, remuneralion specif led by law are not made., or we have not received all the inf ormation and explanations we req uire f or our aud it- or the truslees were not entille(S to prepare the f inancial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Responsibilities of trustees As explained more f ully in the Trustees, Responsibilities Slatemenl. Ihe Trustees {who are also the d ireclors of the charity f or the purposes of company law) are responsible f or the preparation of the f inancial statements and f or being satisf led that they give a true and f airview, and for such i ntemal control as the Tnjstees determine is necessary to enable the preparation of f inancial statements that are f ree f rom material misslalem8nt, whether due to f raud or error. In preparing the f inancial statements. Ihe Truslees are responsible f or assessing the charitable company's abilty to continue as a going concern, disclosing, as applicable, matters related to going concern and using the goir concern basis of accounting unless the Trustees either intend lo liquidate the charitable company or to cease operations or have no realistic altemative but to do so. Page | 16
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance aboul whether the f inancial stalements as a whole are f ree from material misstatement, whelher due to fraud or error and to issue an Audilols Report that includes our opinion. Reasonable assurance is a hig h level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misstalemenls can arise f rom fraud or error and are considered rnalerial if, individually or in the aggregate. Ihey could reasonably be expected to inf luence the economic decisions of users taken on the basis of these f inanclal statements. Irregularities, including f raud, 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, includ ing f raud. The extent to which our pmcedures are capable of detecting irregularities, including f raud are sel out below. Capablllty of the audlt in detectlng irregularltles In identif ying 8nd assessing risks of material misstatement in respect of irregularities, including f raud and non- compliance with laws and regulations, our proced ures included the f ollowing.. We 8nquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and proced ures relating lo- Identif ying, evaluating, and complying wilh laws and regulations and whether they were aware of any instances of non-complianGe' Detecting and responding to the risks of fraud and whether they have knoedge of any actual, suspected, or alleged f raud., • The intemal controls established lo mitigate risks related to fraud or non-Gompliance with laws and regulations. We inspected the minutes of meetings of Ihose charged with governance. We obtained an understanding of the legal and regulatory framework that the charity operates in, focusiry on those laws and reg ulations that had a material eff ecl on Ihe f inancial statements or that had a f undamenlal eff ect on the operations of the charity from our prof essional and sector experience. We reviewed the financial statement disclosures and tested these to supporting documentation to assess Compliance with applicable laws and regulations. We performed analytical proced ures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to f raud. In addressing the risk of f raud through management override of controls, we tested th8 appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested signif icant Iransactions that are unusual or those outside th8 normal course of business. Because of the inherent limilations of an aud it. there is a risk that we wll not detect all irregularities, including those lead ing to a material misstatement in the f inancial statements or non-compliance with reg ulation. This risk increases the more that compliancewith a law or regulation is removed f rom the events and transactions ref lecl in the f inancial statements, as we wll be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, f org8ry. collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at- www.f rc.org.uklaudilorsresponsibilities. This description f orms part of our auditorfs report. Page | 17
The Centre for Literacy in Primary Education Trustees Report For the Year Ended 31 August 2024 Use of our report This report is made solely lo the charitable company'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 Ihat we might state to the charitable company's members those matters we are required to slate lo them in an Auditols Report and for no other purpose. To the f ullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the Gharitable company and its members, as a body, for our aud il work, f or this re port, or f or the opinions we have formed. Anthony Epton jsenior Statutory Auditor) for and on behalf of Goldwins Llmited Statutory Auditor Chartered Accountsnts 75 Maygrove Road West Hampstead London NW6 2EG Page | 18
The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Statement of Fi nancial Activities {Incorporating Income and Expenditure Account) For the Year Ended 31 August 2024 Unrestricted funds Restricted funds 2024 Total funds 2024 Total funds 2023 Note 2024 Income from: Donations Charitable activities Other Irading aclivities Investmenls 143,088 835,116 118,733 8,855 143.088 896,607 118,733 8,855 765, 222 1.084, 094 74, 755 12,984 61,491 Total income 1,105,792 61,491 1,167,283 1,336,455 Expenditure on: Charilable activities 1,183.008 81,123 1,264,131 1, 529, 146 Total expenditure 1,183,008 81,123 1,264,131 1,529, 146 Net movement In funds {77,216) (19,632) (96,848) (192, 691) Reconclllatlon of funds: Total f unds broug hl forward 17 92,101 30,406 122,507 315, 198 Total funds carried fOard 14,885 10,774 25,659 122,507 All of the above results are derived f rom continuing activities. There were no other recognised gains or losses other than those staled above. The attached notes fom part of these financial statements. Page | 19
The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Balance Sheet As at 31 August 2024 2024 2023 Note Fixed assets: Tang ible assets Intangible assets 11 74,145 46,878 121,023 112,344 70,496 t82,840 12 Current assets: Stocks Debtors Cash al bank and in hand 13 13,863 112,098 184,707 310,668 15.139 111,817 258, 954 385,910 14 Credltors.. amounts f alling due within one year 15 397,699 428, 506 Net current assetsl{Ilabllities) 87,031 42,596 Creditors.. amounts f alling due after one year 16 (8,333) (17.737J Total net assets 25,659 122,507 Charity Funds Restricted f unds Unrestricted funds 17 10,774 14,885 30, 406 92,701 Totsl funds 25,659 122,507 The charity's financial statements have been prepared in accordance with Ihe provisions applicableto compani subject to Ihe small companies regirne. The financial statements were approved and authorised forissue by the Trustees on signed on their behalf , by.. and Cat rlne Rose ir of Trustees The atlached notes form part of these financial statements. Company registration number: 04385537 Page | 20
The Centre for Literacy in Primary Education {A Company Limited by Guarantee) statement of Cash Flows For the Year Ended 31 August 2024 2024 2023 Note Cash f lows f rom operating activities Net cash (used inllprovided by operating activities 19 (60,9511 (132,350) Cash f lows f rom investlng activities: Cash f lows f rom interest Purchase of tangible f ixed assets Purchase of intangible f ixed assets Net cash used in investing activities 8,855 {1,974) (10,773) {3,892) 12,984 (4,414) (26, 198) (17, 628) Cash f lows f rom f inancing activities.. Repayments of borrowing Cash provided by l (used inl financing activities (9,404) {9,4041 (9, 752) (9, 752) Change in cash and cash equivalents in Ihe year {74,247) (159. 730J Cash and cash equivalents brought forward 258,954 418,684 Cash and cash equlvalents carrled forward 20 184,707 258, 954 Page | 21
The Centre for Literacy in Primary Education {A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Accounting Policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland {FRS 1021 leffeclive 1 January 2015) (Charities SORP IFRS 102)), the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The Cenlre f or Literacy in Primary Education meets the def inition of a public benef it entity under FRS 102. Assets and liabilities are initially recognised at hislorical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Company status Th8 charity is a companylimited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limit to £1 per member of the Gharity. 1.3 Fund accounting General f unds are unrestricled f unds which are available f or use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees forparticular purposes. The aim and use of each designated fund is set out in the notes tothe financial statements. Restricted f unds are f unds which are to be used in accordance with specif ic restrictions Impos by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specif IG f und. The aim and use of each restrict f und is set out in the notes to the f inancial statements. Page | 22
The Centre for Literacy Tn Primary Education IA Company Limited by Guarantee) Notes to the Financlal Statements For the Year Ended 31 August 2024 1.4 Income All income is recognised once the charity has an entitlement to the income, it is probable Ihat the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benef it f rom use of the Gharity of the ilem is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunleer time of the Friends is not recognised and ref er to the Trustees, Report f or more information about their contribution. On receipt, donated prof essional seNices and donaled facilities are recognised on the basis of the value of the g if t to the charity which is the amount the Ghariiy would have been willing to pay to oblan seNices or facilities of equivalent economic benef it on the open matket., a corresponding amount i then recognised in expenditure in the period of receipt. Voluntary income is received by way of grants, donalions and gifts and is included in full in Ihe Statement of Financial Activities when receivable. Grants, where entillemenl is not conditional on the delivery of specific performance by Ihe charity. are recognised when the charity becomes uncond ilionally entitled to the grant. Bank interest is included when receivable. Income f rom charitable trad ing activity is accounted f or when earned. Income from granls where related lo performance and specific deliverable is accounted foras the charity earns the rig ht to consideration by its performance. 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or consttuctive obligation committing the charity to that expendilure, it is probable that selllemenl will be required and Ihe amount of the obligation can be measured reliably. Expenditure is accounted foron an accruals basis and has been included under expense categories that aggregate all costs for allocation lo activities. Where costs cannot be directly attributed lo pariicular activities, they have been allocated on a basis Gonsislent with the use of the resourc8S. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection wth the administration of the charity and compliance with constitutional and statutory req uireTnents. Charitable activities and Governance costs are costs incurred on the chaiity's ed ucational operations, including support costs and Gosts relating to the governance of the charity apportioned to charitab18 activities. All expenditure is inclusive of irrecoverable VAT. Page | 23
The Cenlre for Litera¢y in Primary Education (A Company Limited by Guarantee) Notes to the Financlal Statements For the Year Ended 31 August 2024 1.6 Fixed assets and depréciation Tangible fixed assets All assets costing more than £500 are capilalised. Tangible fixed assets are carried at cost or valuation, net of depreciation and any provision for impairment. Deprecialion is provided at rates calculated to write off the cost or valuation of f ix assets, less their estimated resid ual value, over their expected usef ul lives on the f ollowing bases.. Leasehold improvements Library Furniture and f ittings Computers and equipment 20 /.15 years) Straig ht line with nil residual value. 12.50 % (8 years) Slraig ht line with nil resid ual value. 20°/. (5 years) Straight line wth nil resid ual value. 25 % {4 years) Straight line with nil resid ual value. 1.7 Intanglble assèts Website development costs are capitalised as intangible assets only when the following criteria are met.. (i) it is technically feasible to complete the product so it will be available lo use- (ill management intends to complete the prod uct or sell it., lili) there is ability to use or sell the prod ucl., {iv) it can be demonstrated how the sof Iware producl will generate f uture economic benef ils., Iv) Ihe expenditure allributable to the product during its development can be measured reliably. Website development costs are amortised over their usef ul economic lif e of 4 years. 1.8 Operatlng leases Rentals under operating leases are charged lo the Statement of Financial Activities on a straig ht-line basis over the lease temi. Benefits received and receivable as an incentive lo sign an operating lease are recognised on a straight-line basis over Ihe period until Ihe date the rent is expected to be adjusted to the prevailinJ mathet rate. 1.9 Stocks Stocks are valued at the lower of Gost and net realisable value af ter making due allowance f orobsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of f ixed variable overheads. 1.10 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 notif icalion of the interest paid or payable by the Bank. 1.11 Debtors Trade and other debtors are reGognised at the settlement amounl after any trade discount Offe1. Prepayments are valued at the amount prepaid net of any trade dlscounts due. 1.12 Cash at Bank and in hand Cash al bank and in hand includes cash and short term highly liq uid investments wilh a short maturily of three months or less from the date of acquisition or opening of the deposit or similar account. Page | 24
The Centre for Literacy in Primary Education {A Company Llmited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 1.13 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transf er of economic benef it will be required in settlement. and the arnounl of the selllement can be eslimaled reliably. Liabilities are recognised al Ihe amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments f or the goods or services il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the ef f ect of the time value of money is material, Ihe provision is based on the present value of those amounts, d iscounted at the pre-tax d iscounl rate that ref lects the risks specif IG to the liability. The unwind ing of the discount is recognised within interest payable and simi18r charges. 1.14 Pensions Slaff up to 2008-09 were eligiblefor membership of the Local Government Pension Scheme {LGPS), administered by the London Borough of Southwark, which acts as an Administering Authority. The scheme was closed to new staff during that year. The Local Government Pension Scheme was a defined benefitscheme based on final pensionable salary, bul from The Centre forLiteracy in Primary Education's perspective became a defined contribution scheme during 2013-14. Pension costs charged in the Slalement of Financial Activities represent Ihe Contributions recommended by tha independent actuary and payable by the charity in the year. Staf f not in the Local Government Pension Scheme are eligible f or inclusion in a def ined conlribution scheme. Contributions are charged to the Statement of Financial Activities as they become payab in accordance with the scheme. 1.15 Critlcal accountlng estimates and areas of judgment In the application of Ihe Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other f actors that are considered to be relevanl. Actual results may d iff from these eslimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Depreciation and accruals are the areas whiGh give rise to judgemenl and estimates. 1.16 Going concern Given the level of reserves, f ollowing the f inancial year end the Truslees Gonducled a strategic review of the charity's activities and concluded the long term interests of all stakeholders and charitable purpose would best be secured by seeking a combination with another organisation which shares our charitable purpose. During this period the Tnjstee Board has met on a weekly basis and clos monitored the f inancial position of the charity. The charity is currently in advanced negotiations wilh another UK ed ucation charity on a combination of both organisations. In this contexl, the Twstees are confident that the charity is a going concern on the basis that the organisation can continue to meet its obligations f or the f oreseeable f uture. The trustees consider Ihat there are no material uncertainties about the charitable company's abilty to conlinue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wthin the next reporting period. Page | 25
The Centre for Literacy In Primary Education IA Company Limlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Income from donations Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Funds awarded 143,088 143,088 165, 222 Total donations 143,088 143,088 165, 222 Total 2023 165, 222 165, 222 Income from charitable activities Unrestrlcted funds 2024 Restricted funds 2024 Tolal funds 2024 Total funds 2023 Power of Reading Courses and conferences Funded projects Cross sector work School CPD Publications 579,664 102,850 579,664 102,850 61,491 69,162 80,109 3,331 624,977 159, 187 163, 494 61,345 71,904 3, 187 61,491 69,162 80,109 3,331 835,116 61,491 896,607 1, 084, 094 Total 2023 920, 600 163,494 1,084,094 Income from other trading activities Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Prernises income 118,733 118,733 74, 155 Total income from other trading income 118,733 118,733 74,155 Total 2023 74,155 74, 155 Income from investments Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Bank interest receivable 8,855 8,855 12.984 Total 2023 12,984 12,984 Page | 26
The Centre for Literacy in Primary Education IA Company Limlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Analysis of resources expended by actlvltles Direct costs 2024 Staff costs 2024 Support costs 2024 Total Total 2024 2023 Awards & Donations Funded projects Courses and conferences Power of Reading Cross sector work School CPD Publication sales 2,003 42,137 13,356 50,884 5,543 4,114 665 63,887 62,965 45,921 258,815 30,880 35,768 1,488 70,591 33,336 50,740 285.971 34,120 39,521 1,644 136.481 138,438 110,017 595,670 70,543 79.403 3,797 165, 756 291,410 184, 986 651, 280 75, 632 76,351 3, 197 Expend iture on trad ing activities: Cost of generating Premises Income 18,194 53,013 58,575 129,782 80,534 Total 136,896 552,737 574,498 1,264,131 1, 529,146 Support costs Total 2024 Total 2023 Legal and prof essional Renl Telephona IT costs Light and heat Rates Insurance Other premises costs Cleaning Security Publicity and marketing Printing, postage and stationery Bank charges Other operating costs Wages and salaries Depreciation Govemance costs (note 8) 3.866 95,478 6,214 33,768 7.447 12,808 12,236 23,900 18,356 2,640 34,982 8,455 273 10,976 192,180 74,564 36,355 133 115,827 5,154 26,979 13,001 11,455 15.906 11,017 72,360 1,853 73,834 11,306 358 6, 964 788, 486 67,575 46,723 Total 574,498 608, 931 The basis of allocation f or support oosls is according to staf f time spent on projects as w811 as actual expenses incurred. Page | 27
The Centre for Literacy in Primary Education IA Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Governance costs Unrestricted funds 2024 Total funds 2023 Auditols remuneration Reimbursement of TrL¢Stees' expenses Wages and salaries Other costs 9,804 9,804 647 1,402 25,529 34, 282 375 1, 235 Total 36,355 46, 723 Net incomel{expenditure) This is stated af ter charg ing.. 2024 2023 Depreciation of tangible f ixed assets: owned by the charity Amortisation of intangible fixed assets Aud ilorfs remuneration - aud it Operating lease renlals 40,173 43,413 34,391 24, 162 6,667 8, 333 95,478 115,827 During the year, no Trustees received any remuneration (2023 £Nil). During the year, no Trustees received any benef its in kind (2023 £Nill- During the year, Iwo trustees received reimbursement of expenses of £559 (2023 Three trustees wer& reimbursed expenses of £1,402). Page | 28
The Cenlre for Literacy in Primary Education (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 10. staff costs staff costs were as follows.. 2024 2023 Wages and salaries Social security costs other pension costs 660,534 755, 194 68,625 65,503 41,287 50,498 Totsl 770,446 871, 195 The avera9e number of persons employed by the charity during the year was as follows.. 2024 2023 No. No. Educational staff Support staff 10 t3 Total 16 20 The number of higher-paid employees was: 2024 2023 In the band £60,000 - £69,999 In the band £70,000 £79,999 In the band £80,000 £89,999 Key management personnel comprises of five {2023'. four) members of senior management and the Chief Executive. The total benefits received by key management personnel in the year amounted to £319,350 (2023: £345,191). Page | 29
The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 11. Tangible fixed assets Computers and equipment Leasehold improvements Furniture and fittings Library Total Cost or valuation At the start of the year Additions 137.007 254.121 1,355 35,795 62.772 619 489,695 1,974 At the end of the year 138,362 254,121 35,795 63,391 491,669 Depreciation At the start of the year Charge for the year 133,765 1,748 155,033 31,766 33,204 2,316 55,349 4,343 377,351 40,173 At the end of the year 135,513 186,799 35,520 59,692 417,524 Net book value At the end of the year 2,849 67,322 275 3,699 74,145 At the start of the y88r 3,242 99, 088 2,59t 7,423 112,344 12. Intanglble Fixed Assets Website &CRM System Total Cost or valuation At the start of the year Add itions Disposals 134,647 134,647 10,773 10,773 {11.800) (11,800) At thè end of the year 133,620 133,620 Depreciation Al Ihe start of the year Charge for the year Disposals 64.151 64.151 34,391 34,391 111,800) 111,800) At the end of thè year 86,742 86,742 Net book value At the end of the year 46,878 46,878 At the start of the year 70,496 70, 496 Page | 30
The Centre for Literacy in Primary Education IA Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 13. Stooks 2024 2023 Books stock 13,863 15,139 14. Debtors 2024 2023 Trade debtors Prepayments and accrued income 42,970 69,128 33, 745 78.072 Total 112,098 111,817 15. Creditors: Amounts falllng due wlthin one year 2024 2023 Bank loans and overdrafts Trade creditors Other taxalion and social security Other creditors Accruals and deferred income 10,000 48,104 16,122 5,985 317,488 10,597 43, 285 22.326 17,564 334, 734 Total 397,699 428,506 Deferred income Deferred income at the start of the year Amounts released from previous years Amounts deferred in Ihe year 294,657 1294,657) 302.283 Deferred Income at the end of the year 302,283 Def erred income comprises invoiced or received in Ihe year relating to seNices to be provided In the next f inancial year. 16. Creditors: Amounts falling after one year 2024 2023 Bank loan 8,333 77, 737 Total 8,333 17,737 Page | 31
The Centre for Literacy in Primary Education IA Company Llmited by Guaranteol Notes to the Financial Statements For the Year Ended 31 August 2024 17. Statement of funds statement of funds - current year Balance at the start of the year Balance at the end of the year Transfers inl{out) Income Expenditure Unrestricted funds.. Desi nated funds Operating Cost ReSee 328,000 328,000 General funds General reserves 235,899 1,105,792 1,183,008 313,115 Total unrestricted funds 92,101 1,105,792 1,183,008 14,885 Restricted funds: CLPE inf rastnjcture Ref lecting Realities in the Classroom CLIPPA 2024 30,406 (19,632) (51,491) (10,000) 10,774 51,491 10,000 Total restrlcted funds 30,406 61,491 81,123 10,774 Total funds 122,507 1,167,283 1,264,131 25,659 Designated Funds The operating cost resewe represents amounls set'aside to provide f inancial stability should CLPE suffer unexpected events, losses of income or large unbudgeled expenses. 11 is calculated in line with the ReseNes Policy, at 3 months operating costs plus a further 3 months rent. Restricted Funds CLPE infrastructure a restricted funding grant was received to support the development of a new CRM system. Improving Vocabulary is an annual prog ramme, in partnership with Dolly Parton's Imagination Library. 51 is f unded by the Charity of Sir Richard Whittington, which Is administered by The Mercers, Foundation. It is expected to run for 3 years. The Ref lecting Realities suNey is antlClP8ted to be ongoing. In 2022 restricted f unding was received f rom Arts Council England. Reflecting Realities in the Classroom is a 3 year programme funded by the Paul Hamlyn Foundation. The CLIPPA is an award for published poetry forchildren in the UK. In 2022 and 2023 restricted fundir was received from The Authors Licensing and Collection Sociely in support of the event. Page | 32
The Centre for Literacy in Primary Education (A Company Llmited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 17. Statement of funds (continued) Statement of funds - prior year Balance at Ihe start of the year Balance at the end of the year Transfe in/(outJ Income Expenditure Unreslricted funds.. Desi nated funds Op8rating Cost Resewe 328, 000 328, 000 General funds General resewes 96, 894 1. 772,961 1,311,966 235,899 Total unrestricted funds 231, 106 1, 172,961 1,311,966 92, 101 Restricted funds.. CLPE InfrastCtUre Improving Vocabulary Reflecting Realities Suwey 2022 Reflecting Realities in the Classroom CLIPPA 2022 CLIPPA 2023 67,664 (37, 258) (75, 349) (3,860) (85,830) (4,883) 10,000 30, 406 75, 349 3, 860 85,830 4, 883 10,000 Total restricted funds 84,092 163,494 21T,180 30,406 Total funds 315, 198 1,336,455 1,529, 146 122,507 18. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2024 Restricted funds Total funds 2024 2024 Tangible f ixed assets Intangible f ixed assets Current assets Creditors d ue within one year Creditors d ue af ter one year 74,145 46,878 299,894 {397,699) (8,333) 74,145 46,878 310,668 {397,699) 18,333) 10,774 Total 14,885 10,774 25,659 Page | 33
The Centre for Literacy in Primary Education {A Company Llmlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 18. Analysis of net assets between funds {continued) Analysis of net assets between funds - prior year Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Creditors du8 afler ono year 112,344 70,496 355, 504 (428, 506) (t7, 737) 112,344 70, 496 385,910 (428,506) (17.737J 30,406 Total 92, 101 30.406 122,507 19. Reconciliation of net movement in funds to net cash flow from operating activities Net expenditure for the year (as per the Statemenl of Financial Activities) (96,848) (192, 691) Adjustment for.. Depreciation Disposals of f ixed assets Interest, rent and d ividends f rom investments Increasel(decrease) in stock {Increaseydecrease in debtors Increasel{decrease) in creditors 74,564 67,575 {8.855} 1,276 (281) {30.807) (12,984J 752 (2,449) 7,447 Net cash {used in)Iprovided by operating activities 60,951 132,350 20. Analysis of cash and cash equivalents 2024 2023 Cash in hand 184,707 258.954 Total 184,707 258,954 21. Pension commitments The charity's employees belong to one of two pension schemes: The Pension Trust scheme {PT) for academic and related slaff and, fornon-teaching staff. The Local Govemment Pension Scheme (LGPS) for non-teaching staff. Both The LGPS scheme and The PT scheme are defined contribution schemes. No conlributions were payable to the LGPS at 31 August 2024 ({2023: £58911 orto the PT as at 31 August 2024 {2023: £7,063). All amounts are included within cred itors at the year-end. Page | 34
The Centre for Literacy in Primary Education (A Company Limlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 21. Pension commitments {continuedl LoGal Government Pension Scheme The Local Government Pension Scheme (LGPS) is a funded defined vconlribution scheme. with the assets held in separale trustee-administered f unds. Since 1 April 2014, the London Borough of Soulhwark has introduced a policy whereby Centre forLileraGy in Primary Education's pension risk as an admitted body is undenNritten by London Borough of Southwark. Centre f or Literacy in Primary Ed ucalion's contribution rate has been f ixed at the rale certif led by the 2010 triennial actuarial valuation f or as long as the charity remains an employer in the f und. As the Council is now taking responsibility f or any def icits and the charity has a f ixed contrib ution rate, the scheme is now a defined contribution scheme for accounting purposes. The agreed contribution rates forfulure years are 24.IOA of pensionable pay for CLPE in respect of future accrual of benef ils f or active members. For employees, contributions are dependent on the level of their f ull-time equivalent salary ranging f rom 5.5 % to 10°/0. The total Gontribution made for the year ended 31 August 2024 was £4,394 (2023.. £6,228), of which employer's contributions totalled £3,54212023.' £5,070) and employees, contributions tolalled £852 (2023.. £1,158). The Pension Trust Scheme The Pension Trust Scheme (PT) is a defined contribution scheme. The employerfs contribution rates during the year were 6 %. The employees, contribution rates during the year were 50/0. The total contribution made forthe year ended 31 August 2024 was £68,245 (2023.. £81,627), of which employer's contributions totalled £37,746 (2023.. £45,023) and employees, contributions tolalled £30,499 (2023.. £36,604). 22. Operating lease commitments At the year-end, the total of Charity's f uture minimum lease payments under non-GanGellable operating leases was.. Land and buildings 2024 2023 2024 2023 other Amounts payable: Within 1 year Between 1 and 5 years After more than 5 years 115,916 115,976 1,806 3,940 463,664 463, 664 1.806 1,400,652 1,516,568 Total 1,980,232 2,096, 148 1,806 5, 746 Page | 35
The Centre for Literacy in Primary Education (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 23. Related party transactions One Trustee is nominated by the London Borough of Southw8rk, as outlined in The Centre for Literacy in Primary Education's Articles of Association. Page | 36