2025-03-31-accounts

National Literacy Trust Change your story Annual Report 2024-25

Contents

Letter from the Chair ............................................................ 3 Our mission ............................................................................. 4 Our values and beliefs .......................................................... 5 Our impact in numbers ......................................................... 7 Our strategy ........................................................................... 8 How we made change happen in 2024/25 ......................... 9 Our 30th anniversary ............................................................ 10 Our research: A wake up call to the nation ....................... 11 Breakthrough 1: Literacy to grow ....................................... 12 Breakthrough 2: Literacy to learn ...................................... 15 Breakthrough 3: Literacy to thrive ..................................... 19 Legal Information .................................................................. 21 Independent Auditor’s Reports .......................................... 27 Statements of Financial Activities ..................................... 31 Balance Sheet ........................................................................ 32 Statements of Cashflows .................................................... 33 Notes to the Accounts ......................................................... 34

2 National Literacy Trust 2024–25

Letter from the Chair

Our Hub areas are bucking the national trend with reading levels up to 22% higher than the national average. An extraordinary achievement in the poorest communities which have traditionally lagged significantly behind.

The mission of our charity is to address inequality and grow prosperity by increasing literacy levels across the UK. When our own research shows that only 34% of children and young people are reading for pleasure, it is our duty is to call this out as a crisis, challenging the futures of a generation and the ambitions of our nation, and to lead action to address it.

Working with the new Government, the publishing industry, our charity partners, libraries, schools and colleges and the business community, we are proud to have been commissioned by the Secretary of State for Education to lead a National Year of Reading in 2026 as a response to this crisis.

This campaign will build on the momentum of significant achievement and growth in the impact and reach of the National Literacy Trust. The past year has seen us launch Early Words Matter, our 5 year campaign to work with a quarter of a million children in our Hub areas, to support their early literacy and language. We have now created over 1,500 new libraries for primary schools, training members of staff to run them. And, crucially, our intensive work in our Hub areas has demonstrated that the decline in reading is not inevitable.

I am incredibly grateful to all our supporters who are enabling us to address the challenge with such vigour and impact. For the over 100 businesses who commit their support to our mission in the Literacy Business Pledge, backed by KPMG. To the Trusts and Foundations who play such a vital role in our work – particularly the Julia Rausing Trust and the Foyle Foundation for their support for Libraries for Primaries. To the Arts Council and the DfE for their deep understanding and support for our mission.

It has been an honour to celebrate our achievements with our Patron, Her Majesty The Queen, welcoming her to our Hubs, from Middlesbrough to Bradford, and to the schools which have benefited from Libraries for Primaries. Our Patron’s commitment inspires and encourages us.

I would also like to thank my fellow trustees and the executive team and our 1,500 volunteers across the UK, whose enthusiasm powers our work and changes stories in some of the UK’s most disadvantaged but most exciting communities.

Joanna Prior Chair Date: 29 September 2025

3 National Literacy Trust 2024–25

Our mission

We empower people from disadvantaged communities with the literacy skills they need to succeed in life

Literacy changes everything. It gives you power to shape your future. It’s the key to knowledge, confidence and inspiration. It’s better results at school and leads to better jobs. If you grow up without the tools to communicate, without books to read or the skills to write, it’s harder to get where you want to go

We’re a charity helping people overcome these challenges and change their life chances through the power of words – reading, writing, speaking and listening. From first words, through school days to training, jobs and beyond. This is a big issue – 1 in 6 adults have very low levels of literacy in the UK today. It is also concentrated in the poorest communities. We support these communities, where as many as one in three people have low levels of literacy.

As well as the foundation of personal success, literacy is also a national priority. It sits at the heart of our nation’s economic success and sustainability, driving social mobility and the challenge of regional inequality. The National Literacy Trust leads the national campaign to raise awareness of the issue and find solutions. We aim to break the relationship between low literacy and poverty to give a new generation the skills to fulfil their opportunities.

We are proud to be a dynamic and fastmoving organisation, and we think creatively about how to inspire and engage people with literacy. Partnerships of all kinds are at the heart of our approach and they’re how we have most impact. We are proud to work in partnership with 9,015 schools, and over 90 businesses, and are grateful for the support of writers, illustrators, poets and the skilled teams of 40 publishers.

We base everything we do on sound evidence and we aim to provide cutting-edge research on all aspects of literacy. From exploring the relationship between technology and literacy, to investigating the impact of role models on reading, to understanding the impact of the pandemic on young children’s language skills.

4 National Literacy Trust 2024–25

Our values and beliefs

The National Literacy Trust’s values are well understood and embedded in the charity’s culture, our induction, appraisals and staff development and are the guiding principles for the way in which we are effective.

We are focused on our impact with the people who need us most: helping them change their life chances through the power of words.

It’s in our DNA to be enterprising : we make a difference because we are willing to do things differently.

We make change happen together; by connecting with others, we can do so much more.

We are respectful to everyone we work with, valuing each person’s unique contribution.

5 National Literacy Trust 2024–25

Our commitment to equity, equality, diversity and inclusion

The foundation of our strategy is our shared commitment to equity, equality, inclusion and diversity . Our mission to increase literacy levels is fundamentally about addressing inequality. We know that becoming a more diverse and inclusive charity, better at listening to and working with communities, is key to increasing our impact and fulfilling our mission.

Our programmes and campaigns are focused on the needs of children, families, adults and groups who are most likely to experience injustice and exclusion. By working with community consultation groups in all our Hub areas, we develop approaches based on the many strengths and unique qualities each community has – languages, stories, experiences, skills and knowledge.

Our mission is to break the link between literacy and socio-economic inequality. Poverty is the major driver and effect of low literacy in the UK. But we know that other characteristics can make it harder for people from poorer communities to develop strong literacy skills.

We take this challenge seriously: We have an EDI action plan which is discussed by our trustees at each board meeting. We monitor and set targets to improve the diversity and inclusivity of staff and trustees. Our CEO chairs our EDI working group. There is regular training for staff in recognising and addressing unconscious bias.

Our commitment to the environment

We are passionate about sustainable development and the creation of communities that have the literacy skills to thrive, supporting both current and future generations. But a sustainable community is also defined by its relationship to the environment. So, it is essential that we operate in an environmentally responsible way. In 2022 we became a distributed organisation, allowing team members to live in their own communities, and conducting our meetings and management activities online. This supports communities across the UK and minimises travel requirements. We also aim to improve our contribution to environmental sustainability through our programmes and support the delivery of environmental messages and actions – for instance, through our Eco Literacy Champions project.

6 National Literacy Trust 2024–25

Our impact in numbers

Breakthrough One:

17,644 6,518 17,219 Reach Engagement Books Distributed

Breakthrough Two: 1,778,056 1,575,198 Reach Engagement

540,322 Books Distributed

Breakthrough Three:

80,000 Reach

1,2260 7,168 Engagement Books Distributed

7 7 National Literacy Trust 2024–25

Our strategy

Poverty leads to low literacy: by the time a child is 10.5 months old communication delay linked to poverty can already be detected. This lays the foundation for a lifelong pattern of literacy inequality impacting on earnings, health and wellbeing. But this is not inevitable – with support for children, families, schools and prisons this pattern can be broken. But we need to act now. If we can respond promptly and at scale, we can stop childhood experiences of poverty from having a lifelong and even intergenerational impact. We can create new opportunities, allow individuals to fulfil their potential and create new dynamics of social mobility.

The pandemic exacerbated the challenge. Its impact on literacy was worst for disadvantaged pupils in deprived areas (with a secondary pupils learning loss of 2.7 months in reading) and on preschool children’s early language development.

The Cost of Living Crisis and the legacy of the pandemic, increases the scale of need for the National Literacy Trust’s work and its urgency.

But it also increases our potential impact.

8 National Literacy Trust 2024–25

How we made change happen in 2024/25

We know that the literacy challenge is complicated. Literacy is intergenerational; it is closely related to inequality; particular communities and particular characteristics make it more likely that you will have low levels of literacy. Our approach, therefore, is sophisticated and evidence-based. In the past year we have worked in four ways to empower people with literacy skills to succeed in life.

We directly supported literacy skills and building confidence.

From parents not sure how to talk to their baby, teenagers finding reading boring or adults facing life challenges without literacy skills we supported people with information, digital content, classes, free books, encouragement and our knowledge and expertise.

We helped professionals increase the quality of literacy provision.

We supported and inspired early years practitioners, teachers, librarians, tutors and professionals on the frontline. They are our nation’s literacy heroes and the greatest resource the UK has. We are proud to work with them and learn from them, offer them evidencebased approaches, free resources and celebrate their achievements.

We stood side by side with communities to tackle literacy inequality.

We lead 20 impactful Literacy Hubs – long term literacy action partnerships on the ground, driven by the communities themselves, in the places with the worst experiences of literacy and poverty in the UK. Our local teams worked in partnership with these communities to change stories.

We influenced leadership and policy to create lasting change.

National and local government policy determines how education is delivered. We worked to ensure literacy is a priority and influence policy using our insights and experience. We also worked with leaders in the business community. As employers, through their markets and as corporate citizens, businesses have a key role to play in our mission.

9 National Literacy Trust 2024–25

Our 30th anniversary

In 2024 we celebrated the 30th anniversary of the foundation of the National Literacy Trust which we celebrated with a Birthday Party, hosted by our Patron, Her Majesty The Queen, at Clarence House.

Over 60 of our Literacy Champions, volunteers from the communities we work with were the guests of honour at the celebration, joining staff, trustees and supporters of the National Literacy Trust to mark three decades of championing literacy within some of the UK’s most disadvantaged communities. It was a great honour to welcome our President, Baroness Usher Prashar, who was one of the founders of our charity.

In our first 30 years

We’ve gifted a staggering 528,303 books in the last year alone!

10 National Literacy Trust 2024–25

Our research: A wake up call to the nation

In November 2024 we published research which revealed that just 1 in 3 (34.6%) children and young people aged 8 to 18 enjoyed reading in their free time in 2024.

This was the lowest levels ever recorded, enjoyment levels having decreased by 8.8 percentage points over the past year alone.

We know that reading for pleasure is a vital literacy activity, strongly linked to academic attainment, we also know that it can drive social mobility, as a more powerful determining factor in young people’s futures than their socioeconomic background.

Our findings demonstrated a challenge to the future life chances of our children and young people and the new Government’s commitment to opportunities and economic growth. Before publication, ministers and key civil servants at the DfE had been fully briefed. On the day of publication, Rachel Reeves was briefed on the research in a creative industries roundtable at No 11 Downing Street. Media interest was intense and there was a strong and popular appetite for action.

A Publishers All Party Parliamentary Group was held for MPs and Lords to discuss the results at which Baroness Rebuck proposed a National Year of Reading in response to the data. Her recommendation was subsequently adopted by the Secretary of State for Education who has commissioned the National Literacy Trust to lead the 2026 campaign.

In 2026 the National Year of Reading will be a massive government-backed campaign, mobilising all sectors of society in a common mission, to engage more and especially young people in reading, to boost their quality of life now and create new opportunities in their futures.

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Breakthrough 1: Literacy to grow

Every child starts school with language and communication skills ready to grow and learn at school.

Early years speech, language and communication is the foundation of all literacy. Yet in September 2024, 30.8% of children started school without the early literacy, language and communication skills required. For children from more disadvantaged backgrounds the number increased to 47.1% .

Children who struggle with language at age 5 are five times more likely not to reach the expected level in reading and writing at age 11. From this point inequalities in earnings and health can accurately be projected.

This inequality is a result of children not having access to high quality childcare and early education opportunities and resources in the home and early parenting behaviours

In 2024 we published research which shows the growing scale of this challenge for children born into the Pandemic and the cost of living crisis:

Only 78.1% of parents said they had chatted to their child at least once a day in the last week. In 2019 the level was 90.3%.

56.0% parents played together with their child at least once a day in the last week. This compares to 76.2% in 2019.

50.5% parents said they had read with their child daily in 2024 compared to 66.% in 2019.

12 National Literacy Trust 2024–25

Our 5 year campaign, Early Words Matter , which we launched in 2024, is our response to this challenge. We will be supporting the early language and literacy development of 250,000 children and young people in 20 of the most disadvantaged areas with resources and support for parents and children, evidence-based intervention and training for early years settings and local partnership work to strengthen leadership and systems around early literacy.

In the first year of Early Words Matter we have focused on five areas. One of these areas is Sandwell where our local team launched a new resource, the Little Moments Together card, with a magical under 2’s event ‘Storytelling with Sandy the Bear’ at Morrison’s Wednesbury Cafe. We were joined by SinglePoint Family Hub Oldbury, who provided family support and Transport for West Midlands who were handing out a one month free bus pass to families to enable them to participate in sessions. Children enjoyed storytelling and nursery rhymes while we were able to talk to the adults about early literacy. We also visited local nurseries and Family Hubs to directly support families in their stay and play sessions.

Early Words Matter is already impacting on parents and children in these communities:

We have thoroughly enjoyed working with the programme. We feel that It has begun to flourish, we have loved expanding on the messages & activities to demonstrate & adapt to the families needs, it has been fun and wonderful to see the progress & confidence increase with both the parent & child, engaging & empowering the parents is so important. Giving out the lovely books & resources is the icing on the cake!

I never read with them at home, they always get distracted or wreck the book. It’s easier to do other things, I’m so glad you read a couple of stories with them.

- Parent

Thank you so much for the opportunity of the programme. We loved it. We learnt something new every week and we didn’t know the importance of reading to our children and we are grateful. We didn’t have books read to us when we were younger so we didn’t know this was important and now on a bedtime my wife always does a story and my children go to bed with a story.

- Family attending Family Hub event South Tyneside

The rhymes have really helped with their speech. They pick books they like and engage more now. The group atmosphere has given me and my kids friends also.

- Mother of 1 and 3 year old

- FWT Practitioner, Birmingham

13 National Literacy Trust 2024–25

At the heart of Early Words Matter are evidence-based interventions that are rigorously developed, tested and evaluated. The recent evaluation of the programme for Under 2s showed that:

• 90% of parents reported a positive change in their knowledge of the ways to talk and interact with their child and 78% reported positive change in their confidence to visit the local library, children’s centre or nursery.

• There was improved early speech and language skills of children and improved personal and social skills of the children.

Their child was completely non-verbal at the start of the 5-week project. The parent reported having a go at several of the activities at home each week and trying to use the language that they had seen modelled in the sessions, finding opportunities for giving the child both spoken language and signing. By the end of the 5 weeks, the child was noticeably babbling at the sessions and the parent reported that is was even more at home. The parent was thrilled by rapid development and continues to engage with other services locally and is now trying to attend Rhyme Time at least once a month.

- FWT feedback from a facilitator, Hampshire

We have taken our commitment to

supporting early language and literacy in the Government’s Family Hub network, where we are training and developing staff in the Hubs and providing resources for them to use with Families. This has had an transformatory impact on the Family Hub teams.

Within a year:

92%

have a better understanding of how to support early language and the home learning environment since working with us

82%

have reached new families within their local community since working with us

99%

agree that the resources provided are relevant and useful for families

14 National Literacy Trust 2024–25

Breakthrough 2: Literacy to learn Literacy to learn. Every young person, wherever they grow up, leaves school with literacy skills for life

Literacy is the key to education and is crucial in successfully navigating life. Literacy levels determine employment options, earnings, the ability to participate in democracy and even health outcomes. It’s not just about acquiring literacy skills, it’s also about personally engaging with them – enjoying reading at 15 has a greater impact on your school grades than your parents’ social class. Yet enjoying reading amongst young people is at an all time low. This is creating inequality, limiting opportunities and undermining social mobility. However, this decline is not inevitable and it is inspiring to see the poorest communities, where we are working in depth, bucking the trend with up to 22% higher levels of reading for pleasure than across the rest of the UK.

We are committed to ensuring that every young person leaves school with the literacy skills they need to fulfil their potential. This means offering consistent support for their reading, writing and speaking and listening skills throughout their education.

In the last year we worked with 9,229 settings nationally to ensure to address our goal.

We have worked directly with young people through initiative such as the National Reading Champions Quiz which celebrates the book knowledge of star readers aimed 10 to 14 each year. In early 2025 545 schools registered 2725 students to take part in the competition, 23 regional heats were held culminating in the National Grand Final. In total 1725 questions were asked during 69 hours of quizzing. And the star readers loved it!

We have three children from the same family who are about to be made homeless. With this initiative we have seen the enthusiasm of the three children in getting to choose and keep three new books each. The enjoyment they have shown and willingness to discuss books and reading has grown each time.

- Teacher, Amazon Young Readers Programme

11,994 teachers have attended our training and conferences this year across the United Kingdom, supporting the way in which they teach literacy from early years to post-16.

“The training gave some good strategies to engage all learners, no matter their level of literacy”

“It gave me lots of ideas to use in the classroom and the confidence to deliver it”

Our Young Readers Programme was the UK’s first reading for pleasure programme and it is still working with children who are the least likely to own books and enjoy reading.

15 National Literacy Trust 2024–25

National reading celebrations

We first developed our national online reading events during the pandemic and they remain important moments to unite schools from across the country in the celebration of reading at important moments:

In Refugee Week activity, we ran two live events for schools. 40,000 students signed up to our event with Michael Rosen. We also had a live BSL

Interpreter. 16,000 6-9-year-olds joined our event with writers Steven Chatterton and Mark Arrigo.

On World Book Day Book 608,783 pupils registered for “The Great Big Footy & Booky Quiz” and we estimate we were watched by half the schools in the UK.

Our Remembrance Live Assembly event was delivered to 90,634 pupils at 1,497 schools.

Thank you so much for a wonderful experience for our students on Monday as part of your work with the NLT. I watched with our Y7&8 students and it was amazing for them hearing Michael Rosen’s personal stories about home/ refuge, family, loss, life, love. So many students here could identify with that.

16 National Literacy Trust 2024–25

Connecting stories

As well as our national programmes, our work with schools has particularly focused on our partner communities, where the National Literacy Trust has teams on the ground. 14 of these have been part of Connecting Stories which promotes reading for pleasure through school and community partnerships. Supported by Arts Council England and a national coalition of 46 publishers, Connecting Stories engages new readers through multiple contact points delivered with schools and community partners and by training and supporting teachers with resources, skills and interventions.

In Doncaster amongst a year-long programme highlights have included the holiday events the innovative Snacks and Stories Club, developed in partnership with Greggs in where our team also hosted a Storytelling Festival for 1,400 children from 24 schools.

In Stoke a highlight was the summer of park events, with six storytelling festivals in parks across the six towns of Stoke-on-Trent inspiring families to develop a love of literacy. Community organisations volunteered their time, including Family Hubs, Staffordshire Fire Service, Port Vale and Stoke City Football Clubs. Creators, storytellers, authors and poets, face painters, a magician, a bouncy castle, singing princess, and workshops based around story stones, engaged 6,060 people and as a result there were 255 children signed up to the summer reading challenge and 513 new library members.

Evaluation of the impact of sustained programmes of engagement, across these 14 areas show:

• Higher levels of children reading for pleasure than the rest of the country - Children in these (some of the poorest wards in the UK) are now up to 22% more likely to be reading for pleasure and 22% more likely to use a public library.

• Stronger support from parents for their children’s reading - 83% more parents and carers are aware of how to support their children’s literacy and 78% more know about local literacy activities than national levels.

• Improved attainment in local primary schools - schools in these areas with results significantly below national average are now reporting an 8.6 percentage point improvement in Key Stage Two attainment. Meaning they are now in line with the national average and putting their children on a pathway to success.

• Increased community engagement – 1,400 volunteers are leading this work 56% of these are themselves drawn from the most disadvantaged wards (IMD 1-3)

For any community this data would be impressive, but the wards targeted by this work are the most disadvantaged in the UK which until now had the lowest reading and literacy rates. The programme has reversed this inequality.

“It was so brilliant to see Bangladeshi children and food featuring in a story and an interactive event like this one. My family really enjoyed the session, and my 8-month-old loved the mess play and making the Bhorta – she ate the whole thing!” - Read North East (event with author)

“He never read books before, he always struggled,” said Reham’s mum “But since he started this club, I’ve noticed a real difference. He reads 2 or 3 pages a night now with his dad; I was really shocked. This club has made a huge difference. He just comes to me with a book”

17 National Literacy Trust 2024–25

Libraries for Primaries

Our Libraries for Primaries campaign is working to ensure that every school has a school library. 1 in 7 primary schools don’t have a library, the number is significantly higher in disadvantaged areas. When books are an unaffordable luxury for many families, not having a school library means that many children never get to develop a reading habit.

In partnership with Arts Council England and publishers, the campaign installs new libraries in primary schools, prioritising schools in disadvantaged communities. The collections are carefully curated to include books which reflect the diversity of contemporary life. Vitally, we also train members of staff to manage the new library, to make sure it is used by pupils and families, that pupil librarians are recruited and trained and that the library is a platform to create a new culture of reading across the whole of the school.

May 2024 was a milestone moment for Libraries for Primaries, when Her Majesty the Queen opened the 1000th new school library as part of the campaign. A third of a million children have now benefited from the programme. The celebration at Morelands Primary School in Islington

was attended by writers and illustrators who support the campaign. Joseph Coelho, the Children’s Laureate, wrote a poem to celebrate the occasion and we invited pupil librarians from every school we have worked with to participate in a national online poetry workshop.

By the end of the year, we had delivered another 500 more libraires in all four nations.

Our inaugural Inclusive Libraries conference took place at the start of September 2024, in Leeds and London as part of our Libraries for Primaries campaign. Reading is an important tool to develop empathy and support education around racism. Our conferences empowered school librarians to champion unheard voices, and provide a safe space for young people to explore cultures, identities and intersectionality, so that they feel included and celebrated. Hundreds of school librarians attended and took part in our Inclusive Library Webinars.

One of the key findings of the evaluation of Libraries for Primaries is that teachers taking part in the programme feel more equipped to talk about diversity, equity and inclusion in the classroom.

18 National Literacy Trust 2024–25

Breakthrough 3: Literacy to thrive Everyone leaving the criminal justice system has improved literacy skills to help them thrive.

1 in 6 adults in England have very low levels of literacy, in Scotland this figure is as high as 1 in 4. This group is not equally spread across society but is focused on disadvantaged communities. The prison population has particularly low levels of literacy and around 90% of young people in custody have been excluded from school in the past. Recent data from the Ministry of Justice shows that 61% of adult prisoners have literacy levels below Level 1. By working in the criminal justice system, we can reach large numbers of people with low literacy who face significant challenges in other areas of their life, we can learn from them about how best to engage people in reading and writing and we can see how literacy really does change life stories.

In 2024/25 we expanded and deepened our work in order to reach more women, men and young people in prison, as well as supporting families in the community with a family member in prison.

We delivered 152 workshops across 14 prisons, reaching 1,080 participants. We have reached a potential audience of 80,000 through our National Prison Radio audiobooks, and have donated 2,222 books across the prison estate.

We worked on a large scale programme supported by the Ministry of Justice in 6 prisons to engage people in reading and writing.

• 53% of participants in this programme had a literacy level below Level 1

• 99% rated the session they attended as ‘good’ or ‘excellent’

• 79% said the session inspired them to write more

• 89% said the session made them feel more able to express themselves in writing

• 84% said the session inspired them to engage with other education opportunities in their setting

• We expanded our work with young offenders, rolling out New Chapters to reach 50% of under 18s in custody.

• 93% rated the workshop as either excellent or good

• 98% rated their experience with the author as excellent or good

• 100% said the workshop inspired them to think about their future more

The great books that you send are priceless and bring me reads that I wouldn’t usually seek out

• Participant, HMP Dovegate

Having the opportunity to speak at length with a published author was fantastic Viktoria is an inspiration.

• 98% said the workshop made them feel better in general

• 98% said the session made them feel that their story is worth sharing

• 97% felt the workshop made them enjoy writing more

• Attendee, HMP East Sutton Park

• 95% reported it encouraged them to read more

19 National Literacy Trust 2024–25

From a former Books Unlocked participant who has now been released and we support in the community:

Hello to Books Unlocked, I just want to say a massive thank you for being part of my story. I now own over 20 books, own a kindle, am part of a book club and regularly find peace within the library. I found a new love with you, and I will be forever grateful. So will my Goodreads challenge! I adore reading now, the cathartic feeling I get just cannot be matched unless I am up a mountain somewhere. I hike, by the way, not lost! You gave me hope when I had very little and I will be forever grateful.

I liked the chatting, thinking skills, and the writing staff were very good. We need more stuff like this in jail.

- Participant, HMP Leeds

Really made me think about how I ended up where I am now and where I want to getback to.

It was fabulous.

-Participant, HMP Askham Grange

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National Literacy Trust 2024–25

Legal information

The Trustees present their annual report, together with the financial statements of the charity for the year ended 31 March 2025.

The financial statements comply with the Companies Act 2006, the trust deed and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Reference and administrative details

The Trustees and advisers currently in office or who served during the year were as follows:

TRUSTEES

Joanna Prior (Chair)

Matthew Bradbury

Louise Doughty (appointed 27 February 2025) Gabrielle Huddart (appointed 22 October 2024)

Brad Keast (appointed on 7 May 2025)

Catherine Rose (appointed on 01 June 2025)

Kersten England

Ben Fletcher

Rachel Hopcroft (appointed on 20 May 2024)

Hilary Ineomo-Marcus (appointed 20 May 2024)

Professor Michelle Money (previously Shaw)

Natasha McMullen (resigned on 27 February 2025)

Lara White (Treasurer) (resigned on 27 February 2025)

Professor Clare Wood (resigned on 27 February 2025)

PATRON

Her Majesty The Queen

PRESIDENT

Baroness Prashar of Runnymede

VICE PRESIDENTS

Amanda Jordan OBE Julia Cleverdon DCVO CBE

REGISTERED OFFICE

68 South Lambeth Road, London SW8 1RL

CHARITY NUMBER

1116260

SCOTTISH CHARITY NUMBER

SC042944

COMPANY NUMBER

05836486

AUDITOR

SAYER VINCENT LLP 110 GOLDEN LANE, LONDON, EC1Y 0TG

BANKERS

Lloyds TSB Bank Plc, Law Courts Branch, 222 Strand, London WC1R 2BB

WEBSITE

www.literacytrust.org.uk

CHIEF EXECUTIVE

Jonathan Douglas CBE

COMPANY SECRETARY

Catherine Hardwick

21 National Literacy Trust 2024–25

Policy on fundraising

The charity does not employ any external professional fundraisers or commercial participators and is very careful to comply with all proposed and enacted legislation in this space. We’re committed to generating income in a way that protects individuals and has a positive impact on the communities in which we work. We also follow sector guidance, including the Fundraising Regulator’s Code of Practice, to safeguard individuals who may lack capacity or require additional support to make informed decisions when engaging in fundraising activities.

Aiming for the highest standards, we:

• are registered with the Fundraising Regulator, and are committed to complying with the Fundraising Code of Practice. There has not been any instance of noncompliance with any code;

• give our supporters the opportunity to opt out of further contact, or to opt out of a specific method of communication as part of every approach for donations;

• do not share or sell data with, or undertake fundraising activities, with third parties for their marketing benefit;

• ensure that our teams are familiar with good practice standards and integrate them into ways of working;

• deal with complaints about our fundraising activities in a timely and transparent manner;

• received zero complaints during the financial year 2024/25 and did not receive any complaints during the 2024/25 year either.

The charity’s work is funded primarily through donations from charitable trusts, foundations, businesses and individuals. Our core activities, including Literacy Hubs, education programmes, research and advocacy, are supported principally by a number of key funders.

The fundraising team continued to play a pivotal role in advancing our work, aligning their efforts with our strategic priorities. In the financial year 2024/25, a gross amount of £12m (excluding trading activity, legacy, bank interest and gift aid) was fundraised against a budget of £12.1m (excluding trading activity, legacy, bank interest and gift aid). No material expenditure has been incurred to raise income in the future. These include:

• Amazon

• Arch Insurance

• Arts Council England

• Audible

• Authors’ Licensing and Collecting Society

• Bloomberg

• Bloomsbury

• Booker Prize Foundation

• British Land

• Browne Jacobson

• Bupa Foundation

• Chase

• Deloitte

• Department for Education

• Department of Science, Innovation and Technology

• Dundee Volunteer and Voluntary Action

• Estée Lauer

• Experian

• Fidelity Foundation

• Garfield Weston Foundation

• Goldman Sachs

• Goldsmiths Company Charity

• Greggs Foundation

• Great Western Railway

• Hachette

• Harper Collins

• Ian Fleming Publications

• Irwin Mitchell

• Julia and Hans Rausing Trust

• Kindred Squared

• KPMG

• Lancôme

• McDonald’s

• Mercers Company

• Mewburn Ellis

• Ministry of Justice

• Moondance Foundation

• Morrisons Foundation

• Mousetrap Productions

• National Lottery Community Fund

• National Lottery Heritage Fund

• Oxford University Press

• Pan Macmillan

• Penguin Random House

• Portal Trust

• Premier League

• PwC

• RWE Supply and Trading GmBH

• Redwood Bank

• Reece Foundation

• Rothschild Foundation

• Simon and Schuster

• Slaughter and May

• Smythson

• The Works

• TikTok

• Turner and Townsend

• UCL Institute of Education

• University of Birmingham

• Vanquis Bank

• West Yorkshire Combined Authority

• WHSmith

• Worwin Foundation.

22 National Literacy Trust 2024–25

Plans for the future

The charity has exciting plans for 2025/26. We will continue to build on our success in 2025/26 to reach young people and adults who are most disadvantaged. We will work to deliver our strategy and are focussed on the three breakthroughs. At the same time, we will ensure that the partnership with Centre for Literacy in Primary Education is embedded within NLT in an aligned and unified way. Additionally, the roll-out of the 2026 National Year of Reading (NYR) and the Libraries for Primaries (LfP) programmes (the latter where the government has committed to fund the expansion of the existing LfP programme, to cover all primaries in the UK without a library in the period to 31/03/28) will take place in the financial year 2025/26.

Principal risks and uncertainties

The Trustees are mindful of the need to identify and assess the major risks facing the charity Appropriate procedures and systems have been implemented to ensure that risks and uncertainties are managed in ways to optimise the appropriate and effective use of all resources. A risk assessment has also been undertaken with regard to the current economic climate.

Strategic risks are identified on an annual basis as part of the annual delivery plan. Trustees receive a quarterly report on the management of these risks at the Finance, Audit and Risk Committee; these are then reported on to the full Board of Trustees. The highest ranked risk for 2024/25 was a failure to secure sufficient core income to sustain the organisation and support growth. This risk is mitigated by the development and implementation of key strategies that have been presented to the Trustees and where progress is reported to the Trustees at each meeting. In addition, each project maintains its own risk register, and reports on them quarterly to the charity’s senior management team through a quarterly reporting template. The strategic risks the charity has identified are: income falls so that the charity may not be able to maintain its full strategic commitment to place-based working (mitigated by the strengthening of both relationships with funders and ongoing diversification of funding and of the integration between Hubs and programmes to ensure mutual sustainability); relevance of its work to schools and teachers (programmes are designed with teachers and respond to their priorities) and failure to achieve impact (the charity responds by rigorously measuring impact on all its work and carrying out evaluation activity).

Structure, governance and management

The National Literacy Trust was established by Trust Deed dated 19 November 1992 and subsequently registered with the Charity Commission. The status of the Trust was changed with the registration of a new charity incorporated in England and Wales in June 2006 and re-registered with the Charity Commission. These are the full accounts of the incorporated charity. The accounts comply with the Companies Act 2006. The National Literacy Trust is a registered charity (no. 1116260), a Scottish registered charity (SC042944) and a company (no. 05836486) limited by guarantee up to a maximum of £1 each, per member. The memorandum and articles of association were last updated in 2006, when the charity was incorporated and registered at Companies House.

Financial review

The financial activities of the year are set out in detail on the attached pages. The net movement of funds for the year was a decrease of £126,206 (2024: decrease of £514,678). This comprised of an increase in restricted funds of £9,510 (2024: decrease of £171,089), and a decrease in unrestricted funds of £135,716 (2024: decrease of £343,589). Overall, the charity’s funds increased from £3,830,668 at the beginning of the year to £3,704,462 at the year end, of which £528,945 was in unrestricted funds and £3,175,517 was in restricted funds. The fund balances include a transfer from other restricted

funds to unrestricted funds of £200,000. The position with respect to restricted funds is entirely to be expected as it depends on where projects are in their cycle against the grants. Total income for the year before donations of books, increased from £10.5m in 2023/24 to £13.1m in 2024/25 (an increase of over 24%) which was far greater than had been budgeted and is testament to the work done by the whole charity in generating income. Books are not included on the balance sheet because they are received as a gift-in-kind with a view to being distributed quickly, they are not (and are not intended

23 National Literacy Trust 2024–25

to be) held for an extended period of time for the use of the charity as would be implied by treating them as fixed assets. The treatment also reflects the fact that the primary activity of the charity is not to trade in books. Donated books are recognised at the market value the charity would have paid with any discounts offered for the equivalent books. The value of the books received in the period is included in the accounts as income with a matching amount recognised as expenditure.

The main reason for the higher level of incoming resources was that income generated from our charitable activities was much higher than the previous year, especially with respect to our Libraries for Primaries campaign, as well our work in place-based Hubs and Criminal Justice. We anticipate increasing our income by 5% in 2025/26. In addition, the acquisition of the Centre for Learning for Primary Education as a subsidiary from 31 May 2025, will provide further opportunities to increase income and our offering. We will also continue to implement our strategy to generate increased levels of unrestricted income and have new bids in place to maintain income, as well as maintaining or growing existing funder relationships.

Total expenditure for the year increased by £0.2m from £12.6m in 2023/24 to £14.4m in 2024/25. The result for the year reflects the on-going strategies around income aimed at covering core costs: ensuring that funding bids carry the right level of cost allocation; a funding strategy for unrestricted costs; and ensuring as much charitable activity as possible is funded through unrestricted sources.

As a result of the financial performance for the year, the charity is in a stronger total reserves position than the previous year. The Trustees recognise that the charity incurred a loss on unrestricted activities in the year. As a result, there will be an increased focus through both the budget and the strategy for 2025/26 and beyond on the growth of a steady pipeline of unrestricted income. The Trustees of the charity continue to believe that the National Literacy Trust is in a reasonably balanced position with a robust income and expenditure strategy in place. The financial statements

contain further details on the basis of using the going concern assumption which are included in the accounting policies to these financial statements. In making grants to or working with other organisations, we will comply with Charity Commission guidance by carrying out relevant due diligence and having a written agreement that sets out:

• Our relationship.

• The role of each organisation.

• Monitoring and reporting arrangements.

POLICY ON RESERVES

Total funds at 31 March 2025 were £3,704,462 (2024: £3,830,668). Restricted funds not available for the general purposes of the charity amounted to £3,175,517 (2024: £3,401,057). There were no designated funds held.

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted expenditure (adjusted for expenditure which would not be incurred should the charity be wound up) which roughly equates to £660,055.

The charity holds free reserves in order to:

• provide working capital;

• allow the organisation to provide continuity of service if income levels fluctuate, thereby giving time to seek new sources of revenue;

• allow the organisation to provide continuity of service if it had to cope with increases in expenditure that could not be accurately forecast;

• ensure that in the worst possible circumstances it would be able to pay all creditors and wind up the organisation.

24 National Literacy Trust 2024–25

The balance held as unrestricted funds at 31 March 2025 was £528,945 (2024: £429,611) which was comprised of unrestricted fixed assets fund £15,970 (2024: £29,886) and unrestricted free reserves £512,975 (2024: £399,725). The unrestricted free reserves represent 1.5 months of unrestricted expenditure rather than the three that is the policy. The Trustees are aware of the need to increase reserves to reach the 3 month level in line with the growing size of the organisation and have adopted a budget for 2025/26 which puts an even sharper focus on generating more unrestricted reserves. The Trustees are confident that the target of 3 months reserves can be achieved and are taking the necessary approach to achieve this.

Statement of responsibilities of the trustees / directors

The trustees (who are also directors of charity name for the purposes of company law) are responsible for preparing the trustees’ annual report including the strategic report (only for medium and large companies) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently

• Observe the methods and principles in the Charities SORP

• Make judgements and estimates that are reasonable and prudent

• State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

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

In so far as the trustees are aware:

• There is no relevant audit information of which the charitable company’s auditor is unaware

• The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

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

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at year end date was 10 (2024 10). The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

25 National Literacy Trust 2024–25

Approval of Trustees annual report

The Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the Trustees have confirmed that they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

This report was approved by the board of Trustees and signed on its behalf by

Date: 29 September 2025 Trustee: Joanna Prior

This report was approved by the board of Trustees and signed on its behalf by

Date:29 September 2025 Trustee: Bradley Keast

26 National Literacy Trust 2024–25

Independent auditor’s report to the members of National Literacy Trust

Opinion

We have audited the financial statements of National Literacy Trust (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report.

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other Information

The other information comprises the information included in the trustees’ annual report, including the strategic report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly

27 National Literacy Trust 2024–25

stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• The information given in the trustees’ annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The trustees’ annual report, including the strategic report, has been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report, including the strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• The financial statements are not in agreement with the accounting records and returns; or

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit; or

Responsibilities of trustees

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

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

28 National Literacy Trust 2024–25

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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

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

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management, and the finance. audit and risk committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

• Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

• Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

• The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as

29 National Literacy Trust 2024–25

we will be less likely to 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, forgery, collusion, omission or misrepresentation.

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

Judith Miller (Senior Statutory Auditor) 15 October 2025 for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, London, EC1Y 0TG

Use of our report

This report is made solely to the charitable company’s members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

30 National Literacy Trust 2024–25

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2025

Income:		Unrestricted Funds Restricted Funds	Total Funds 2025 Unrestricted Funds Restated Restricted Funds Restated Total Funds 2024 Restated
	Notes	£ £	£ £ £ £
Donations and legacies Income from charitable activities Income from other trading activities Other income Investment income Total Income Expenditure:	2 a 2 b 2 c	4,012,442 149,469 1,037,314 8,393,421 528,092 90,775 7,507 - 51,633 -	4,161,911 3,464,384 107,569 3,571,953 9,430,735 939,059 6,988,660 7,927,719 618,867 499,497 10,928 510,425 7,507 - - - 51,633 40,344 - 40,344
		5,636,988 8,633,665	14,270,653 4,943,284 7,107,157 12,050,441
Raising funds Charitable activities Interest payable Total expenditure Net Expenditure for the year Transfer between funds Total funds brought forward Prior period reanalysis Total funds carried forward	3 c 3 a-b 13 13 20	(1,346,853) - (4,423,607) (8,624,155) (2,245) -	(1,346,853) (1,220,834) - (1,220,834) (13,047,762) (4,063,244) (7,278,246) (11,341,490) (2,245) (2,795) - (2,795)
		(5,772,704) (8,624,155)	(14,396,859) (5,286,873) (7,278,246) (12,565,119)
		(135,716) 9,510 200,000 (200,000) 464,661 3,366,007 - -	(126,206) (343,589) (171,089) (514,678)
			- - - - 3,830,668 773,200 3,572,146 4,345,346 - 35,050 (35,050) -
		528,945 3,175,517	3,704,462 464,661 3,366,007 3,830,668

31 National Literacy Trust 2024–25

Company number 05836486

At 31 March 2025

Balance sheet

		2025	2025	2024	2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	7		15,970		29,886
			15,970		29,886
CURRENT ASSETS
Stock	8	5,346		6,289
Debtors	9	1,307,258		1,899,936
Current asset investments		1,029,183		-
Cash at Bank and in hand		2,807,165		3,481,546
		5,148,951		5,387,771
CREDITORS: Amounts falling due within one year	10	(1,415,115)		(1,523,878)
NET CURRENT ASSETS			3,733,836		3,863,893
CREDITORS: Amounts falling due after more than one year	11		(45,344)		(63,111)
NET ASSETS			3,704,462		3,830,668
The funds of the charity:
Restricted Funds	13		3,175,517		3,366,007
Unrestricted Funds	13		528,945		464,661
			3,704,462		3,830,668

The financial statements on pages 31-50 were approved by the Trustees and authorised for issue on and signed on their behalf by:

Joanna Prior Bradley Keast Chair Treasurer

Date: 29 September 2025

32 National Literacy Trust 2024–25

Statement of cashflows

For the year ended 31 March 2025

Cash (used in) by operating activities Cash fows from investing activities: Investment income (Increase) of cash from current asset investments Purchases of tangible assets Cash used by investing activities Cash fows from fnancing activities: Interest paid Cash used by fnancing activities (Decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year		2025	2025	2024	2024 £ (717,085) 34,624 (2,795) (685,256) 4,166,802 3,481,546
	Notes	£	£	£
	17	51,633 (1,029,165) -	305,412 (977,532) (2,245)	40,344 - (5,720)
		(2,245)		(2,795)
			(674,364) 3,481,546
			2,807,182
Analysis of cash and cash equivalents Cash at bank and in hand			2025 £ 2,807,165		2024 £ 3,481,546

33 National Literacy Trust 2024–25

Notes to the accounts

For the year ended 31 March 2025

1. Accounting Polices

Statutory information

National Literacy Trust is a charitable company limited by guarantee, incorporated in England and Wales (company no. 05836486).National Literacy Trust is an incorporated charity registered with the Charity Commission of England and Wales (charity no.1116260) and with the Office of the Scottish Charity Regulator (no. SC042944). The registered office address and principal place of business is 68 South Lambeth Road, London SW8 1RL.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The financial statements are presented in sterling, which is the functional currency of the charitable company. Monetary financial amounts in these financial statements are rounded to the nearest £1.

Public benefit entity

The charity constitutes a public benefit entity as defined by FRS 102. It is incorporated in England, Wales, and Scotland. In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. 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 within the next reporting period.

Going Concern

The charity’s activities, together with the factors likely to affect its future development, performance and position are set out in the Trustees’ Report. The

charity is building on the learnings and continues to deliver as a hybrid distributed model of working. The economic climate and inflation are still concerns and so, although we are predicting growth, we still prepare monthly top line forecasts which are reviewed with the CEO and quarterly with the Trustees to ensure that the charity can continue to meet its liabilities. These indicate that the charity can continue to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. The forecasts have been prepared based on the most up-to-date information around funder discussions and using detailed workforce analysis to review our costs. On the basis of these forecasts, the Trustees consider that it is appropriate to prepare the accounts on the going concern basis.

Fixed Assets

Fixed Assets are capitalised and included at cost. The costs of any assets with a value below £200 are taken to the SOFA when incurred.

Depreciation is provided on a straight line basis so as to write off the cost of tangible fixed assets over their estimated useful lives. The rates of depreciation employed are as follows:

Office Equipment 25% per annum

Income

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

Donated goods and services are recognised as income when the Charity has control over the item or received the goods and services, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated goods and services are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

A total of £1,693,122 has been recognised in donations and legacies in 2025 (2024: £1,524,177) in relation to

34 National Literacy Trust 2024–25

books that have been donated to the charity. An equal amount of expenditure has been fully recognised in charitable activities in the amount of £1,693,122 (2024: £1,524,177). In line with the accounting policy noted above, donated books are recognised at the market value the Charity would have paid with any discounts offered for the equivalent books. The value of the books received in the period is included in the accounts as income with a matching amount recognised as expenditure. The value of the books has not been recognised on the balance sheet as at 31 March 2025 because the books are not (and are not intended to be) held for an extended period of time for the use of the charity.

Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors.

Legacy income is recognised when the Charity has entitlement to the income, receipt is probable and the income can be reliably measured.

Income is accounted for on a receivable basis and is reported gross of related expenditure. The specific bases used are as follows:

Analysis of grants made in the year have been disclosed in Note 16.

Costs of Raising Funds: All expenditure for the purpose of promoting the charity’s activities and encouraging voluntary contributions.

Support Costs: Costs incurred indirectly in support of expenditure on the objects of the charity and include functions such as Human Resources and Information Technology. All costs are allocated between the expense categories of the SOFA on a basis designed to reflect the use of the resource. See Note 3b Analysis of support costs.

Governance Costs: Costs related to the management of the Charity organisational administration and compliance with constitutional and statutory requirements.

Fund Accounting

The unrestricted funds comprise general funds, which are available for use by the Charity for its general objectives. The restricted funds are subject to restrictive conditions made by the grant-making body or donor. Transfers between funds are explained in Note 13.

Taxation

• Voluntary income includes grants and donations from companies, trusts and individuals.

• Grants and sponsorships receivable consists of Government Grant Income relating to website development, publications, policy and research and sponsorship of specific projects as well as grants from corporate supporters.

• Literacy training courses income is generated from delegate fees charged to attendees of literacy courses and seminars.

• Fundraising income consists of sponsorship in respect of events held and donations in return for promotional materials.

• Membership subscriptions for online networks are treated as payment for services, and are recognised over the period of membership, i.e. equally over 12 months.

• Interest receivable is included when receivable.

Expenditure

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

Charitable Activities: All expenditure directly relating to the compilation and production of literacy publications, maintenance of the extensive literacy website and database, and specific literacy projects including grants. Grants are made in order to allow institutions to run community literacy projects.

The charity is a registered charity and as such its income and gains falling with Sections 371 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from Corporation Tax to extent that they are applied to its Charitable Objectives.

Costs are recorded at gross including VAT within the expense items to which they relate, as the Charity is only able to reclaim a small proportion of VAT paid, because of its trading activities, using the partial exemption method.

Operating leases

The rentals payable under Operating Leases are charged to the SOFA on a straight line basis over the terms of the leases. Further information on operating leases can be found in Note 12.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Pension Scheme

The charity operates an auto enrolment defined contribution pension scheme, although the scheme does have a guaranteed element of pension benefits. The pension costs charge represents the amounts payable by the charity to the fund in respect of the year. The assets of the scheme are held separately from those of the charity in an independently administered fund. Additional disclosures in respect of the guaranteed element of the pension scheme benefits are given in the notes to the financial statements.

35 National Literacy Trust 2024–25

Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial. Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the Charity becomes party to the contractual provisions of the instrument.

Basic fnancial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic fnancial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Judgements and key sources of estimation uncertainty

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

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

Donated books are recognised on market value the Charity would have paid with any discounts offered for the equivalent books.

The provision for bad debts is estimated based on a review of the recovery of receivables on a line by line basis.

The trustees do not consider any of the judgements or estimations to have any significant effect on the financial statements.

2. Income

a. Donations and legacies

Donations from individuals Donations from companies Donations from charitable trusts Other donations	Unrestricted Restricted 2025 Unrestricted Restricted 2024
	£ £ £ £ £ £
	745,067 99,469 844,536 287,605 43,684 331,289 1,693,122 50,000 1,743,122 1,684,331 63,885 1,748,216 29,763 - 29,763 217,314 - 217,314 1,544,491 - 1,544,491 1,275,135 - 1,275,135
	4,012,442 149,469 4,161,911 3,464,384 107,569 3,571,953

Income from donations and legacies of £3,464,384 was unrestricted and the remainder of £107,569 was restricted income for a total income of £3,571,953 in 2024.

36 National Literacy Trust 2024–25

b. Income from charitable activities

	Unrestricted	Restricted	Restricted	2025	Unrestricted	Restricted	2024
	£		£	£	£	£	£
Grants and sponsorships receivable	1,037,314		8,393,421	9,430,735	939,059	6,988,660	7,927,719
	1,037,314		8,393,421	9,430,735	939,059	6,988,660	7,927,719
ncome from charitable activites of £1,210,245			was unrestricted income		and the remainder of £6,717,474 was
estricted income for a total income of £7,927,719 in 2024.
rants of £1,528,041 (2024: £1,845,773) were		received from		the government. There are		no unfulflled conditions or
ther contingencies attached to these funds.
. Other trading activities
	Unrestricted		Restricted	2025	Unrestricted	Restricted	2024
	£		£	£	£	£	£
Literacy training	308,306		84,546	392,851	333,901	6,086	339,987
Online network subscriptions	172,633		-	172,633	127,408	-	127,408
Early Years - Traded	-		4,966	4,966	-	-	-
Skills Academy - Traded	12,152		-	12,152	9,701	-	9,701
Toolkits, Bookbenches & Little Ladybird Libraries	-		763	763	-	3,942	3,942
Consultancy & advertising	22,225		500	22,725	7,072	900	7,972
Competitions	12,777		-	12,777	21,415	-	21,415
	528,092		90,775	618,867	499,497	10,928	510,425

Income from charitable activites of £1,210,245 was unrestricted income and the remainder of £6,717,474 was restricted income for a total income of £7,927,719 in 2024.

Grants of £1,528,041 (2024: £1,845,773) were received from the government. There are no unfulfilled conditions or other contingencies attached to these funds.

c. Other trading activities

Income from trading activities of £499,497 was unrestricted income and the remainder of £10,928 was restricted income for a total of £510,425 in 2024.

3. Expenditure

a. Analysis of total resources expended

Costs of Raising Funds Unrestricted Charitable Activities Restricted Charitable Activities Interest Payable	Direct costs Grants Support costs Total 20025 Direct costs Grants Support costs 2024 restated
	£ £ £ £ £ £ £ £
	Note 16 Note 16 1,275,447 - 71,406 1,346,853 1,125,607 - 95,227 1,220,834 3,890,769 - 148,280 4,039,049 3,245,871 - 222,612 3,468,483 8,577,554 46,601 384,558 9,008,713 7,224,775 53,471 594,761 7,873,007 2,245 - - 2,245 2,795 - - 2,795
	13,746,014 46,601 604,24414,396,85911,599,048 53,471 912,600 12,565,119

Support costs of £604,239 (2024: £912,600) included within restricted projects above are included within unrestricted expenditure in the Statement of Financial Activities as they are an allocation of core costs covered by restricted income allocated to core funding.

37 National Literacy Trust 2024–25

b. Analysis of support costs

Costs of Raising Funds Unrestricted Charitable Activities Membership Competitions Conferences Primary Training Secondary Training Literacy Communities Special Charitable Projects Hubs (Core) North East Campaign Words for Life Sport & Literacy Traded HMPPS Literacy Innovation Fund Research Marketing & Communications Unrestricted Chritable Activities Restricted Charitable Activities Birmingham Hub Black Country Hub Blackpool Hub Bradford Hub Connecting Stories 4 Cornwall Doncaster Hub Dundee Hub Fidelity Foundation Hastings Hub Literacy Champions Literacy Hubs Liverpool Hub Manchester Hub Middlesbrough Hub Nott & Peter Big Lottery Nottingham Big Lottery Nottingham Hub Peterborough Hub Peterborough Big Lottery Read North East Redcar Hub Rural hubs North Yorkshire Coast Salford Hub Satellite Hub South Coast Campaign Stoke Hub Story Quest Get Suffolk Reading Swindon Hub Wales Hub Connecting Stories 3 Audible Project Books Unlocked Criminal Justice Restricted General Readconnect Innovation New Chapters HMPPS Literacy Innovation Fund Early Years Home Learning Environment Sport & Literacy Restricted - Competitions Adult Literacy Literacy For Learning Libraries for Primaries Foyle LfP National Year of Reading Newswise Other Restricted Projects Teachers Wellbeing Turn on the Subtitles (TOTS) Words For Work Young Readers Programme Young Writers Restricted - Early Words Matter Campaign Restricted Charitable Activities TOTAL 2025 TOTAL 2024	Premises General Staff Finance Information Total Total Offce Technology 2025 2024 restated
	£ £ £ £ £ £ £
	38,992 15,883 (11,066) 7,786 19,811 71,406 95,227
	9,484 3,863 (2,692) 1,894 4,819 17,368 31,796 1,232 502 (349) 246 626 2,257 5,868 978 398 (277) 195 497 1,791 1,681 2,118 863 (601) 423 1,076 3,879 3,389 10,625 4,328 (3,016) 2,122 5,398 19,457 19,937 - - - - - - 2,848 595 242 (169) 119 302 1,089 12,542 2,171 884 (616) 433 1,103 3,975 9,735 549 224 (156) 110 279 1,006 8,193 - - - - - - - - - - - - - - 7,255 2,955 (2,058) 1,449 3,686 13,287 21,889 13,362 5,443 (3,792) 2,668 6,789 24,470 34,654 32,600 13,279 (9,252) 6,510 16,564 59,701 91,969
	80,969 32,981 (22,978) 16,169 41,139 148,280 244,501
	5,511 2,245 (1,564) 1,100 2,800 10,092 19,624 594 242 (169) 119 302 1,088 712 829 338 (235) 166 421 1,519 10,595 1,955 797 (555) 390 994 3,581 5,698 - - - - - - - 3,911 1,593 (1,110) 781 1,987 7,162 11,393 489 199 (139) 98 248 895 - 2,164 882 (615) 432 1,100 3,963 3,997 - - - - - - - 1,545 629 (439) 308 785 2,828 3,921 - - - - - - - 21,538 8,774 (6,112) 4,301 10,943 39,444 13,956 - - - - - - - 411 167 (116) 82 209 753 3,930 - - - - - - - - - - - - - - - - - - - - - 5,268 2,146 (1,495) 1,052 2,677 9,648 20,765 - - - - - - 3,323 1,838 749 (522) 367 934 3,366 2,136 - - - - - - - - - - - - - - 59 24 (17) 12 30 108 1,851 - - - - - - 9,257 3,367 1,371 (955) 672 1,711 6,166 - 1,075 438 (305) 215 546 1,969 - - - - - - - - 2,171 884 (616) 433 1,103 3,975 11,564 - - - - - - - 5,140 2,094 (1,458) 1,026 2,611 9,413 30,552 1,662 677 (472) 332 845 3,044 2,330 2,955 1,204 (839) 590 1,502 5,412 3,797 30,571 12,453 (8,676) 6,105 15,533 55,986 111,149 2,151 876 (610) 430 1,093 3,940 3,455 680 277 (192) 136 345 1,246 1,248 - - - - - - - 562 229 (159) 112 286 1,030 2,159 - - - - - - - 9,249 3,768 (2,624) 1,847 4,700 16,940 5,364 - - - - - - - 15,415 6,279 (4,374) 3,078 7,832 28,230 46,797 21,631 8,811 (6,139) 4,319 10,991 39,613 50,594 11,824 4,816 (3,355) 2,361 6,008 21,654 26,109 - - - - - - - 225 92 (64) 45 114 412 2,231 - - - - - - 18,608 22,049 8,982 (6,258) 4,403 11,203 40,379 64,184 526 214 (149) 105 267 963 - - - - - - - - - - - - - - - 326 133 (93) 65 166 597 - - - - - - - - - - - - - - - 9,882 4,025 (2,805) 1,973 5,021 18,096 31,672 11,052 4,502 (3,136) 2,207 5,615 20,240 31,568 11,361 4,628 (3,225) 2,269 5,773 20,806 18,333 - - - - - - -
	209,986 85,538 (59,592) 41,931 106,695 384,558 572,872
	329,947 134,402 (93,636) 65,886 167,645 604,244 912,600
	133,203 104,076 166,117 318,779 190,425 912,600 925,947

38 National Literacy Trust 2024–25

c. Analysis of costs of raising funds

Direct staff costs Other direct costs Support costs	2025 £ 1,135,721 139,726 71,406 1,346,853	2024
		£
		957,660 167,947 95,227
		1,220,834

Costs of raising funds were all unrestricted in 2025 and 2024.

4. Net Income

Net income for the year is stated after charging:

Auditor's remuneration - statutory audit fees Auditor's remuneration - grant audit fees Operating leases - equipment Operating leases - land and buildings Interest payable Depreciation	2025 £ 52,160 6,732 7,311 122,276 2,245 13,916	2024
		£
		38,340 26,280 3,363 122,276 2,795 17,138

5. Staff Costs

Wages and salaries Social security costs Pension costs Training and recruitment	2025 £ 6,826,777 726,434 555,862 123,774 8,232,847	2024
		£
		5,847,560 616,544 470,044 80,529
		7,014,677

These costs include redundancy of £1,849 paid in 2025 (2024: £1,514) and additional temporary staff costs of £7,944 (2024: £56,386).

39 National Literacy Trust 2024–25

6. Employee and trustee information

The average number of employees during the year was 202 (2024: 178).

Senior Management Team Fundraising Marketing and Communications Projects and Programmes Supports and Administrations	2025 6 19 24 129 24 202	2024
		6 23 23 104 22
		178

The number of employees who received emoluments in the following ranges was::

£60,001 - £70,000 £70,001 - £80,000 £80,001 - £90,000 £90,001 - £100,000 £100,001 - £110,000 £110,001 - £120,000 £120,001 - £130,000	2025 5 4 1 2 - - 1 13	2024
		1 4 1 1 - 1 -
		8

The Trustees were not entitled to and did not receive any emoluments from the charity during the year (2024: £Nil).

Expenses amounting to £136 were incurred by one trustee during the year (2024: £507, one trustee).

The charity received donations of £nil from one trustee during the year (2024: £6,500 from one trustee)

Alongside the trustees, the charity considers its key management personnel to comprise the members of the senior management team. Remuneration including employer’s pension contributions and employer’s national insurance contributions incurred in the year by key management personnel were £613,420 (2024: £629,974).

7. Tangible fixed assets

Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the Year At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024	Offce equipment £ 115,691 - 115,691 85,805 13,916 99,721 15,970 29,886	Total
		£
		115,691 -
		115,691
		85,805 13,916
		99,721
		15,970
		29,886

40 National Literacy Trust 2024–25

8. Stock

9. Debtors Where’s Wally costumes Other Debtors Prepayments and Accrued Income	2025 £ 5,346 2025 £ 771,659 535,599 1,307,258	2024
		£
		6,289
		2024
		£
		1,320,697 579,239
		1,899,936

Included within Other Debtors is £32,279 (2024: £32,279) relating to a rent deposit. This balance is receivable in less than 1 year.

10. Creditors: Amounts falling due within one year

Trade Creditors Taxation and Social Security Other Creditors Accruals and Deferred Income	2025 £ 763,571 188,175 102,433 360,936 1,415,115	2024
		£
		704,289 197,850 73,592 548,147
		1,523,878

Included within Other Creditors are amounts totalling £17,768 (2024: £17,768) relating to the Section 75 debt on withdrawal from the Pension Trust Scheme, following the reclassification of some to long term liabilities.

Movement in Deferred Income

Movement in Deferred Income
Brought forward at 1 April 2024 Released during year Deferred during year Carried forward at 31 March 2025	2025 £ 88,122 (791,646) 750,218 46,694	2024
		£
		109,408 (831,178) 809,892
		88,122

Deferred income is made up of membership subscription income and literacy training income for courses which will be take place in the next financial year as well as deferred programme income.

41 National Literacy Trust 2024–25

11. Creditors: Amounts falling due after more than one year

Other Creditors	2025 £ 45,344 45,344	2024
		£
		63,111
		63,111

Included within Other Creditors is an amount of £45,344 (2024: £63,111) relating to the Section 75 debt on withdrawal from the Pension Trust Scheme, following the reclassification of some short term liabilities.

12. Future financial commitments

Operating leases

As at 31 March 2025 the charity had total commitments under non-cancellable operating leases as set out below:

Within one year Within 2 to 5 years	Land & Buildings Other 2025 2024 2025 2024
	£ £ £ £
	122,276 122,276 7,311 3,363 152,845 275,121 10,272 3,363
	275,121 397,397 17,583 6,726

13. Funds

Included under Restricted Funds are any donations or grants received which are subject to a restriction imposed by the donors to the purpose for which the funds should be spent. The associated expenditure against income is included under restricted funds expenditure. Income which has not yet been expended is carried forward as restricted funds.

During the 2024/25 financial year, and following legal advice, the Trustees of the charity contacted the Charity Commission with respect to the potential transfer of £200k of restricted funds held as ‘other restricted funds’ on the charity’s balance sheet as at 31 March 2024 to the charity’s unrestricted funds.

The Charity Commission advised that “It is for the trustees to determine whether the funds are freely expendable or actually formally restricted” and that “[t]he trustees will need to consider whether this applies to any of the funds in question”. The Trustees of the charity have reviewed the correspondence with the Charity Commission relating to the release of £200k of ‘other restricted funds’. The Trustees also noted that the original transfer of £200k to the ‘other restricted funds’ was approved and recognised in the signed audited accounts to 31 March 2020 where it was noted that the funds would be held until the Senior Management Team decided on a suitable use for the excess funds. The funds transferred have been disclosed in the notes to each subsequent set of signed audited accounts since the original transfer took place.

The Trustees of the NLT confirmed at a Board meeting that they believe that the funds may be transferred to unrestricted funds, are freely expendable and may be used by the Senior Management Team (‘SMT’) for such purposes as the SMT see fit. The transfer between funds of £200k disclosed in these accounts reflects that decision and is considered by the Trustees to be the most effective use of those funds.

42 National Literacy Trust 2024–25

	At				At
	01-Apr-24	Income	Expenditure	Transfers	31-Mar-25
	restated
	£	£	£	£	£
RESTRICTED FUNDS
Adult Literacy	2,028	2,966	992	-	5,986
Audible Project	49,468	50,184	(74,728)	-	24,924
Birmingham Hub	(11,068)	102,370	(117,097)	-	(25,795)
Black Country Hub	6,415	-	(5,896)	-	519
Blackpool Hub	7,368	75,499	(18,960)	-	63,907
Books Unlocked	105,871	42,373	(35,839)	-	112,405
Bradford Hub	908	130,582	(102,110)	-	29,380
Competitions	12,678	122,020	(91,574)	-	43,124
Connecting Stories	(138,306)	709,212	(968,663)	-	(397,757)
Connecting Stories 2	111,079	415,254	(111,391)	-	414,942
Cornwall Hub	(31,601)	35,971	(29,084)	-	(24,714)
Criminal Justice Employability	9,625	37,788	(29,981)	-	17,433
Doncaster Hub	(1,375)	60,822	(32,678)	-	26,768
Dundee Hub	17,463	87,634	(60,970)	-	44,127
Early Years	327,286	480,187	(724,893)	-	82,580
Fidelity Foundation	-	71,674	(52)	-	71,622
Foyle LfP	-	731,558	(495,056)	-	236,502
Hastings Hub	75,233	42,373	(30,440)	-	87,166
Home Learning Environment	(187,008)	455,826	(437,366)	-	(168,548)
Literacy Champions	(934)	25,424	(10,441)	-	14,049
Literacy For Learning	(1,810)	16,428	(4,489)	-	10,129
Literacy Hubs	312,885	110,022	(338,023)	-	84,885
Liverpool Hub	-	2,730	(1,272)	-	1,458
Libraries for Primaries	1,024,078	2,183,607	(2,060,411)	-	1,147,274
Manchester Hub	(5,920)	33,997	(16,301)	-	11,776
Middlesbrough Hub	2,136	4,937	(4,550)	-	2,523
National Year of Reading	-	16,949	(11,128)	-	5,821
New Chapters	66,017	220,562	(306,037)	-	(19,458)
Newswise	4,237	-	(100)	-	4,137
Nottingham & Peterborough Big Lottery	-	-	(52)	-	(52)
Nottingham Big Lottery	(733)	-	(59)	-	(792)
Nottingham Hub	37,829	115,508	(130,922)	-	22,415
Bradley Keast	617,000	-	(153,123)	(200,000)	263,877
Peterborough Big Lottery	6,278	63,511	(46,986)	-	22,803
Peterborough Hub	(16,761)	3,406	18,853	-	5,498
Read North East - Restricted	-	-	(77)	-	(77)
Redcar Hub	2,895	-	(52)	-	2,843
Restricted - Early Words Matter Campaign	-	-	(310)	-	(310)
Rural Hubs	17,639	-	(17,691)	-	(52)
Salford Hub	-	155,870	(86,969)	-	68,902
Satellite Hubs	35,733	-	(23,959)	-	11,774
Scarborough Hub	17,230	13,856	(5,207)	-	25,879
South Coast Campaign	(32)	-	(52)	-	(84)
Sport and Literacy	196,699	559,520	(546,194)	-	210,025
Stoke Hub	9,956	45,862	(56,153)	-	(335)
Story Quest	(69)	-	-	-	(69)
Suffolk Campaign	205,629	11,116	(131,659)	-	85,086
Swindon Hub	16,886	322	3,973	-	21,181
Wales Hub	1,226	124,849	(63,735)	-	62,340
Words For Work	46,792	267,300	(211,434)	-	102,658
Young Readers Programme	335,078	676,135	(645,721)	-	365,492
Young Writers Programme	79,979	327,459	(408,090)	-	(651)
	3,366,007	8,633,665	(8,624,155)	(200,000)	3,175,517
UNRESTRICTED FUNDS
General Funds	464,661	5,636,988	(5,772,704)	200,000	528,945
TOTAL FUNDS	3,830,668	14,270,653	(14,396,859)	-	3,704,462

43 National Literacy Trust 2024–25

RESTRICTED FUNDS Adult Literacy Audible Project Birmingham Hub Black Country Hub Blackpool Hub Books Unlocked Bradford Hub Competitions Connecting Stories Connecting Stories 2 Cornwall Hub Criminal Justice Employability Doncaster Hub Dundee Hub Early Years Hastings Hub Home Learning Environment Literacy Champions Literacy For Learning Literacy Hubs Love Our Libraries Middlesbrough Hub New Chapters Newswise Nottingham Big Lottery Nottingham Hub Other Restricted Projects Peterborough Big Lottery Peterborough Hub Redcar Hub Rural Hubs Satellite Hubs Scarborough Hub South Coast Campaign Sport and Literacy Stoke Hub Story Quest Suffolk Campaign 13. FUNDS (continued) Swindon Hub Teachers Wellbeing Campaign Wales Hub Words For Work Young Readers Programme Young Writers Programme UNRESTRICTED FUNDS General Funds TOTAL FUNDS	At At 01-Apr-23 Income Expenditure Transfers 31-Mar-24 restated restated restated
	£ £ £ £ £
	14,824 - (12,796) - 2,028 34,129 63,559 (48,220) - 49,468 14,407 165,114 (190,589) - (11,068) 4,979 12,712 (11,276) - 6,415 28,621 8,396 (29,649) - 7,368 93,231 42,415 (29,775) - 105,871 14,575 32,956 (46,623) - 908 12,678 - 12,678 (156,646) 928,413 (910,073) - (138,306) - 135,768 (24,689) 111,079 11,472 50,614 (93,687) - (31,601) 9,258 32,034 (31,667) - 9,625 2,368 9,963 (13,706) - (1,375) 7,836 51,883 (42,256) - 17,463 82,278 867,311 (622,303) - 327,286 63,811 44,025 (32,603) - 75,233 153,387 346,610 (687,005) - (187,008) - (335) (599) (934) 31,668 8,700 (42,178) - (1,810) 158,755 175,208 (21,078) - 312,885 1,001,364 1,729,768 (1,615,054) (92,000) 1,024,078 18,337 1,873 (18,074) - 2,136 92,356 74,123 (100,462) - 66,017 - 4,237 - - 4,237 1 - (734) - (733) 61,151 107,031 (130,353) - 37,829 200,000 - - 417,000 617,000 251 21,170 (15,143) - 6,278 3,548 - (20,309) - (16,761) 2,895 - - - 2,895 27,039 671 (10,071) - 17,639 35,797 (64) 35,733 81,123 9,858 (73,751) - 17,230 - (32) (32) 93,491 610,127 (506,919) - 196,699 38,360 38,231 (66,635) - 9,956 38 - (107) - (69) 362,876 80,464 (237,711) - 205,629 14,501 65,093 (62,708) - 16,886 63,544 - (63,544) - - 10,664 11,112 (20,550) - 1,226 305,207 178,304 (236,719) (200,000) 46,792 482,544 585,492 (607,958) (125,000) 335,078 111,960 294,596 (326,577) - 79,979
	3,572,146 6,835,971 (7,042,110) - 3,366,007
	773,200 5,214,470 (5,523,009) - 464,661
	4,345,346 12,050,441 (12,565,119) - 3,830,668

Total of £nil (2024: £nil) was transferred from Unrestricted Funds to Restricted Funds for complete programmes.

44 National Literacy Trust 2024–25

13. Restricted Funds (continued)

Our programmes and their funding sources:

Adult Literacy – a programme to support adults to improve their reading and writing.

Audible Project - inspiring Young Offenders through audible books and making a podcast.

Birmingham Hub - funded by Birmingham University. The charity has a realistic expectation that the deficit will be covered in the coming financial year as funds are anticipated to come in after the year end.

Black Country Hub – EY funded hub across the area- funded by ACE.

Blackpool Hub - a literacy campaign funded by Blackpool OA and LA.

Books About Town (Schools) - a creative literacy project focused on raising levels of reading for enjoyment through the use of whole text.

Books Unlocked - a reading initiative targeting enjoyment of reading and access to quality literature, working through prison and young offender institution library reading groups, school, college, public library and community reading groups.

Boots Optician School Challenge – a programme in partnership with Boots Opticians to highlight the importance links between literacy and eye health.

Bradford Hub - a literacy hub established in Bradford.

Connecting Stories - a cross hub campaign funded by Arts Council. This project is to promote creative writing and reading for enjoyment across 14 hubs and with the aim of engaging 70,000 people. The deficit in the accounts represents the final claim for payment in arrears submitted to the Arts Council, and will be cleared once the final payment is received in financial year 2025/26.

Cornwall Hub – a literacy hub established in Cornwall funded by a private individual. The charity has received assurances from the funder that the funding will continue and has plans in place to fundraise in 2025/26 for this Hub. The Trustees of the charity have a realistic expectation that the deficit will be covered in the coming financial year.

Criminal Justice Employability - a YOI version of Words for Work.

Doncaster Hub - a literacy hub funded by the Doncaster OA.

Dundee Hub - starting to bring together funders to create a hub in Scotland.

Early Years - training practitioners and volunteers to work with parents and children, building parents’ confidence so that they can support their children’s communication, language and literacy skills at home. Funded by the Department for Education (Ipswich Opportunity Area), Glasgow Local Authority, Manchester Local Authority, The Nuffield Foundation and Trusts and Foundations including Dulverton and Mercers. Our Early Years programmes include Early Words Together, Early Words Together@2, HELLO and Everyone Ready for School. In 2022-23, we received £148,167 from Department of Health and Social Care for The Health and Wellbeing Fund: Starting Well as part of Early Words Together programme. Expenditure in the year to 31 March 2023 was £149,094 so all funds received for this programme have been spent and this project has been completed.

Fidelity Foundation – this grant supports toward a new post Head of Effective Delivery and technology upgrades. This new post will enhance quality, develop different delivery mechanisms and ensure that all delivery is rooted in evidence-based practice which support behaviour change and long-term better outcomes. This grant is also to fund new software to manage volunteers and support the development of our website including CRM integration.

Foyle Foundation – this grant supports toward Libraries for Primaries campaign and is to specifically fund the Foyle Foundation Primary School Library Programme targeting 300 schools with no library across the UK.

Game Changers – funded by Department for Digital, Culture, Media and Sport to motivate and equip young people to read through special designed programme using relatable texts and highly-scaffolded resources.

Hastings Hub - a literacy hub established in Hastings.

Home Learning Environment - funded by the Department for Education to harness the power of businesses and business volunteers to work with disadvantaged families to improve the home learning environment. Funding for this work will be received in the coming financial year.

Literacy Champions – promoting social engagements to improve literacy with disadvantaged communities.

Literacy for Learning - a revolutionary approach to improving secondary school language and literacy. Funding from JJ Charitable Trust received to scale up the previous programme.

Literacy Hubs - funding for cross-hub working.

45 National Literacy Trust 2024–25

Libraries for Primaries - transforming primary school libraries and reading for pleasure across the whole school with the gift of a new and diverse book collection and by developing the skills and book knowledge of teachers, enabling them to become reading for pleasure champions and library coordinators. Our libraries programmes include Love our Libraries, Puffin World of Stories, Get Islington Reading. Funded by Penguin Random House (Puffin World of Stories) JP Morgan Chase ( rewarding futures) Arts Council together with Trusts and Foundations including Mercers and NYC Opportunity Area.

Liverpool Hub - a literacy hub established in Liverpool.

Manchester Hub - funded by Manchester City Council.

Middlesbrough Hub - funded by Middleborough Public Health.

National Year of Reading – a commissioned programme to enhance awareness of reading, delivered by multisector partners, coordinated by the National Literacy Trust as a lead, backbone organisation.

New Chapters - funded by Rothschild Foundation to work in Aylesbury Youth Offending Institute (YOI) to develop a YOI Reading for Pleasure programme. On the basis of the existing funding plans and agreements, the charity has a realistic expectation that the deficit will be covered in the coming financial year.

Nottingham & Peterborough Big Lottery - funding from Big Lottery to deliver a Doorstep to Digital project.

Nottingham Big Lottery - funding from the Big Lottery Fund to support the hub for the next three years with a focus on community consultation and literacy champions. The charity has a realistic expectation that the deficit will be cleared in the coming financial year given the nature of the funding in place to support this activity.

Nottingham Hub - funded by Nottingham City Council and Small Steps Big Changes.

Other Restricted Projects - this money has been transferred from Young Readers Programme and Words for Work where a surplus of funds have built up over a period of years and will be held until the Senior Management Team decide on a suitable use for the excess funds.

Peterborough Big Lottery - funding from the Big Lottery Fund to support the hub for the next three years with a focus on community consultation and literacy champions.

Peterborough Hub - funded by Peterborough City Council.

Premier League Reading Stars, Sport and Literacy - working with high-profile partners such as the Premier League and England Rugby, we deliver literacy programmes, competitions and events using sport and role models to engage and inspire pupils to read and write more. Funded by Premier League, Football Association, BT Supporters Club, Comic Relief (Try for Change), Clarks and Trusts and Foundations. Our Sport and Literacy Programmes include Premier League Primary Stars, Rugby Reading Champions, Skills Academy and Gamechangers – our programmes in Alternative Provision.

Read North East – funding to help improve literacy across the North East. The charity has a realistic expectation that the deficit will be cleared in the coming financial year.

Redcar Hub - funded by Public Health NE.

Restricted - Early Words Matter Campaign – early language development programme supporting 250,000 children in 20 communities.

Rural Hubs – a new area of work starting with some transition work funded by Dorset Council. The charity has a realistic expectation that the deficit will be cleared in the coming financial year.

Salford Hub - a literacy hub established in Salford

Satellite Hubs - literacy hub established in Yorkshire including Rotherham

Scarborough Hub - funded by Scarborough Borough Council.

Stoke Hub - a literacy hub established in Stoke. The charity has a realistic expectation that the deficit will be cleared in the coming financial year given the nature of the funding in place to support this activity.

Story Quest - an innovative project around walk and talk trails in Stoke, funded by Sport England. The charity has a realistic expectation that the deficit will be cleared in the coming financial year given the nature of the funding in place to support this activity.

South Coast Campaign - literacy campaign across South Coast.

Suffolk Campaign - a campaign across Suffolk funded by Suffolk County Council.

Swindon Hub - originally funded WH Smith Plc.

Teachers Wellbeing Campaign – supporting with partner Wesleyan to improve all education professionals’ mental wellbeing.

46 National Literacy Trust 2024–25

Wales Hub – a literacy hub established in Wales

Words for Work - joining schools and businesses together to give young people from disadvantaged backgrounds authentic opportunities to practise the communication and literacy skills they will need to be successful in the workplace. Funded by the Careers Enterprise Foundation and Corporates including Provident, Cleary Gottlieb and Lancome. Our Words for Work programmes include Words for Work Key Stage 3, Words for Work Post 16, Words for Work: Women in Leadership and Words for Work: Dream Big (Key Stage 1).

Young Readers Programme - motivating children from disadvantaged backgrounds to read for enjoyment and giving them the chance to choose new books to keep through a series of fun events. Funded by Corporates including British Land, WH Smith Plc, Slaughter & May, Goldman Sachs and Trusts and Foundations including John Laing Charitable Trust, The Unwin Charitable Trust and the Philip and Marjorie Trust.

Young Writers Programme and Newswise - providing memorable experiences, a real purpose and audience, access to professional writers and structured writing strategies to inspire and improve students’ writing. Funded by Trusts and Foundations including Alasol, Paul Hamlyn Foundation and Corporates including Audible, Google (via Guardian Foundation), Royal British Legion. Our Young Writers programmes include NewsWise, Young City Poets and IPEEL. The charity has a realistic expectation that the deficit will be cleared in the coming financial year given the nature of the funding in place to support this activity

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14. Analysis of net assets between funds

RESTRICTED FUNDS: Adult Literacy Audible Project Birmingham Hub Black Country Hub Blackpool Hub Bradford Hub Competitions Connecting Stories Connecting Stories 2 Cornwall Hub Criminal Justice Employability Doncaster Hub Dundee Hub Early Years Foyle LfP Hastings Hub Home Learning Environment Literacy Champions Literacy For Learning Literacy Hubs Liverpool Hub Libraries for Primaries Manchester Hub National Year of Reading New Chapters Newswise Nottingham & Peterborough Big Lottery Nottingham Big Lottery Bradley Keast Peterborough Big Lottery Bradley Keast Read North East - Restricted Redcar Hub Restricted - Early Words Matter Campaign Rural Hubs Salford Hub Satellite Hubs South Coast Campaign Sport and Literacy Stoke Hub Story Quest Suffolk Campaign Swindon Hub Wales Hub Words For Work Young Readers Programme Young Writers Programme UNRESTRICTED FUNDS: TOTAL FUNDS	Fixed Net Current Long Term 2025 Assets Assets Liabilities Total
	£ £ £ £
	- 5,986 - 5,986 - 24,924 - 24,924 - (25,795) - (25,795) - 519 - 519 - 63,907 - 63,907 - 29,380 - 29,380 - 43,124 - 43,124 - (397,757) - (397,757) - 414,942 - 414,942 - (24,714) - (24,714) - 17,433 - 17,433 - 26,768 - 26,768 - 44,127 - 44,127 - 82,580 - 82,580 - 236,502 - 236,502 - 87,166 - 87,166 - (168,548) - (168,548) - 14,049 - 14,049 - 10,129 - 10,129 - 84,885 - 84,885 - 1,458 - 1,458 - 1,147,274 - 1,147,274 - 11,776 - 11,776 - 5,821 - 5,821 - (19,458) - (19,458) - 4,137 - 4,137 - (52) - (52) - (792) - (792) - 263,877 - 263,877 - 22,803 - 22,803 - 5,498 - 5,498 - (77) - (77) - 2,843 - 2,843 - (310) - (310) - (52) - (52) - 68,902 - 68,902 - 11,774 - 11,774 - (84) - (84) - 210,025 - 210,025 - (335) - (335) - (69) - (69) - 85,086 - 85,086 - 21,181 - 21,181 - 62,340 - 62,340 - 102,658 - 102,658 - 365,492 - 365,492 - (651) - (651) - 3,175,517 - 3,175,517
	15,970 558,319 (45,344) 528,945
	15,970 3,733,836 (45,344) 3,704,462

48 National Literacy Trust 2024–25

14. Analysis of net assets between funds

RESTRICTED FUNDS: Adult Literacy Audible Project Birmingham Hub Black Country Hub Blackpool Hub Books Unlocked Bradford Hub Competitions Connecting Stories Connecting Stories 2 Cornwall Hub Criminal Justice Employability Doncaster Hub Dundee Hub Early Years Hastings Hub Home Learning Environment Literacy Champions Literacy For Learning Literacy Hubs Middlesbrough Hub New Chapters Newswise Nottingham Big Lottery Nottingham Hub Other Restricted Projects Peterborough Big Lottery Peterborough Hub Redcar Hub Rural Hubs Satellite Hubs Scarborough Hub South Coast Campaign Sport and Literacy Stoke Hub Story Quest Suffolk Campaign Wales Hub Words For Work Young Readers Programme Young Writers Programme UNRESTRICTED FUNDS: TOTAL FUNDS	- 2,028 - 2,028 - 49,468 - 49,468 - (11,068) - (11,068) - 6,415 - 6,415 - 7,368 - 7,368 - 105,871 - 105,871 - 908 - 908 - 12,678 - 12,678 - (138,306) - (138,306) - 111,079 - 111,079 - (31,601) - (31,601) - 9,625 - 9,625 - (1,375) - (1,375) - 17,463 - 17,463 - 327,286 - 327,286 - 75,233 - 75,233 - (187,008) - (187,008) - (934) - (934) - (1,810) - (1,810) - 312,885 - 312,885 - 2,136 - 2,136 - 66,017 - 66,017 - 4,237 - 4,237 - (733) - (733) - 37,829 - 37,829 - 617,000 - 617,000 - 6,278 - 6,278 - (16,761) - (16,761) - 2,895 - 2,895 - 17,639 - 17,639 - 35,733 - 35,733 - 17,230 - 17,230 - (32) - (32) - 196,699 - 196,699 - 9,956 - 9,956 - (69) - (69) - 205,629 - 205,629 - 1,226 1,226 - 46,792 46,792 - 335,078 335,078 - 79,979 79,979 - 3,366,007 - 3,366,007
	29,886 497,886 (63,111) 464,661
	29,886 3,863,893 (63,111) 3,830,668

49 National Literacy Trust 2024–25

15. Pension Costs

The Charity operates an auto enrolment defined contribution pension scheme, employees are offered the opportunity to contribute from 1% of their basic salary. There is no obligation to make a personal contribution. The charity contributes 8% of basic salary and Royal London is our pension provider.

Besides, the total unpaid pension contributions relating to Section 75 debt on withdrawal from the Pension Trust Scheme at financial year ending 31 March 2025 were £80,879 (2024: £80,879). These amounts are within Other Creditors due within one year of £17,768 (2024: £17,768) and Other Creditors due after one year of £45,344 (2024: £63,111).

16. Grants Awarded

Derby County Community Trust Foundation 92 (F92) The Reader Organisation Birmingham Community Healthcare NHS Foundation Trust South Tyneside & Sunderland NHS Foundation Trust Black Country Healthcare NHS FT Early Years Alliance Central England Service Hub Sandwell & West Birmingham Hospitals NHS Trust	Number of grants 2025 £ Number of grants 2024 £
	1 7,500 - - 1 22,500 - - 1 4,200 - - 1 7,499 1 24,062 1 4,902 1 11,831 - - 1 8,630 - - 1 3,800 - - 1 5,148
	5 46,601 5 53,471

There were no support costs allocated to grant making activities in both years 2025 or 2024.

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds Adjustments for: Depreciation Investment income Interest paid Decrease in stocks (Increase) in debtors Increase / (Decrease) in creditors Net cash (used in) by operating activities	2025 £ (126,206) 13,916 (51,633) 2,245 943 592,678 (126,530) 305,412	2024
		£
		(514,678) 17,138 (40,344) 2,795 402 (552,660) 370,262
		(717,085)

18. Funds received as agent

The charity has agreed to administer a bank account on behalf of Annington Management Ltd for a campaign to show the benefits of using subtitles in children’s television programmes. At the balance sheet date funds of -£9,654 (2024: -£9,654 in restricted funds) were (2024: £92,377). An admin fee of £nil was received (2024: £1,125) held in the account. During the year funds of £nil (2024: £21,375) were received into the account and £nil were paid out.

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19. POST BALANCE SHEET EVENTS

On 29 May 2025, after the end of the financial year, the charity completed a change of membership agreement (the ‘Agreement’) with the Centre for Literacy in Primary Education (‘CLPE’), which is a registered charity (no. 1092698) and a company limited by guarantee (no. 04385537), to take effect from 31 May 2025. Under the terms of the Agreement, the trustees of both charities have agreed that the charitable objects of both could be better advanced through an alignment of their activities and operations. As part of this operational alignment, it was agreed that CLPE and NLT will remain separate legal entities, but will begin sharing resources and undertaking activities/operations together. It was also agreed that NLT would become the sole legal member of CLPE. This provides NLT with control over certain governance decisions relating to CLPE. The parties acknowledged and agreed that no assets or liabilities shall be transferred out of CLPE and into NLT as part of the change of membership. The unaudited unrestricted funds of CLPE as at 31 May 2025 were £36,325 and restricted funds were £11,673.

The financial impact of this will be reflected in subsequent reporting periods and is expected to bring expanded program reach and increased incoming resources and assets in the medium to longer terms. While the agreement with CLPE does not affect the financial position as of 31 March 2025, it is considered a significant subsequent event requiring disclosure under applicable financial reporting standards.

Management has assessed the implications of this transaction and determined that it does not require an adjustment to the financial statements for the year ended 31 March 2026. However, detailed reporting and consolidated financial information will be provided in the next financial year’s statements.

20 RESTATEMENT OF PRIOR PERIOD INCOME CLASSIFICATION

During the current financial year, the charity identified a misclassification in the prior year’s financial statements. Income and expenditure previously reported as restricted was subsequently determined to have been unrestricted in nature, based on a review of the terms of the contract by which funds were provided.

As a result, the comparative figures have been restated to reflect the correct classification. This adjustment does not affect the total income and expenditure reported but alters the allocation between restricted and unrestricted funds. The opening balance of unrestricted funds as at 1 April 2024 has been increased by £35,050, and the restricted funds decreased by the same amount. Total income involved amounted to £271,186 and total expenditure involved amounted to £236,136.

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About The National Literacy Trust

The National Literacy Trust is an independent charity that empowers children, young people, and adults with the literacy skills they need to succeed.

Literacy changes everything. It gives you the tools to get the most out of life, and the power to shape your future. It opens the door to the life you want. But low literacy is inextricably linked to poverty. Over the last 30 years, we have continued to work with people who need us the most, supporting schools, families and communities on a local and national level.

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© National Literacy Trust 2025

The National Literacy Trust is a registered charity no. 1116260 (England and Wales) and SC042944 (Scotland). Full company info: The National Literacy Trust is a registered charity no. 1116260 and a company limited by guarantee no. 5836486 registered in England and Wales and a registered charity in Scotland no. SC042944. Registered address: 68 South Lambeth Road, London SW8 1RL.