2021-12-31-accounts

	Page
Legal and administrative information
Trustees' Annual Report
Independent auditor's report	10
Statement of financial activities	13
Balance sheet	14
Statement of cash flows	15
Notes tothe financial statements	16

Company reg. no.	Company reg. no.	5906258
Charity reg.	no. (England)	1117249
Charity reg.	no. (Scotland)	SC043470
Registered office		International House
		Holborn Viaduct
		London, EC1A 2BN
Trustees		The trustees, who are also directors						under company		law, who served
		during the year and		up to the date of				this report	were	as follows:
		Michael Wemms,	Chair					Appointed	01	April 2021
		Andrew Reid, Treasurer
		Barry Porter
		John Bensted
		William Payne
		Brenda Bates
		Ellen Coady						Appointed	28	July 2021
		Cristalina Fernandes-Bates						Appointed	28	July 2021
		Ceri Godwin						Appointed	28	July 2021
		Caroline King						Appointed	28	July 2021
		Pankaj Sethi						Appointed	15	December 2021
		Sue O' Hara						Resigned	31 March 2021
		Robert Newman						Resigned	31 March 2021
		James Killen						Resigned	9June 2021
		Michael May						Resigned	28 July 2021
Key management		lan Merrill, CEO
personnel
		Christopher Morgan,			Company		Secretary
Bankers		CAF Bank Ltd						Virgin Money pic
		25 Kings Hill Avenue						30-31 Haymarket
		Kent, ME194JQ						London,	SW1Y4EX
		Aldermore Bank	PLC					Nationwide Building Society
		1st Floor, Block BWestern House						Kings Park Road
		Lynch Wood						Moulton	Park
		Peterborough, PE2		6F2				Northampton,		NN3 6NWY
Independent	Auditor	Richard Billinghurst		FCA
		Senior Statutory	Auditor
		Knox Cropper LLP
		Chartered Accountants				and Statutory		Auditors
		65 Leadenhall Street,			London,		EC3A	2AD
Accountants		NfP Accountants	Ltd
		3rd Floor, 86-90	Paul		Street, London,			EC2A 4NE

				Unrestricted	Unrestricted		Restricted		Total	Unrestricted	Unrestricted	Restdcted	Restdcted	Total
					Funds		Funds		Funds		Funds		Funds	Funds
			Note		2021 2		2021 2		2021 2		2020f		2020f	2020f
INCOME FROM
Donations and legacies			2		403,019		331,667		734,686		467,098		300,780	787,878
Charitable activiTies
Reading programme			3		54,380				54,380		26,693			26,693
Investment income:	bank	interest			555				555		1,S96			1,686
Other income			4		96				96		17,185			17,185
TOTAL INCOME					458,050		331,667		789,717		512,672		300,780	813,452
EXPENDITURE ON:
Raising funds			5		69,622		3,442		73,064		49,741		831	50,572
Charitable activities
Reading programme			5		302,957		370,599		673,556		296,951		291,665	588,616
Turning pages
sustainability income		project			9,089				9,089		18,421			18,421
(TPSI)
					312,046		370,599		682,645		315,372		291,865	607,037
TOTAL EXPENDITURE					381668		374,041		755,709		365,113		292496	657,609
NET INCOME/(EXPENDITURE)			FOR
THE YEAR					76,382		(42,374)		34,008		147,559		8,284	155,843
RECONCILIATION	OF FUNDS
TOTAL FUNDS AT	1 JANUARY		2021		518,730		43,731		582461		371,171		35447	40S,S18
TDTIILTDNDDIIT31DEDEMBER2D2				2	595, 2	R	1357	3	533493	f	513733	f	4173

		Notes			2021		2020
					2
RXEDASSETS
Tangible assets		13
CURRENT ASSETS
Debtors		14	12,588			30,034
Cash at bank and in hand			656,361			721,298
			668,949			751,330
CREDITORS: amounts within one year	falling due	15	(72,481)			(188,870)
NET CURRENT ASSETS					596,468		562460
NET ASSETS					596,469		562,461
FUNDS
Restricted funds		t6			1,357		43,731
Unrestricted funds:
Designated funds		16	125,000			125,000
General fund		16	470,112			393,730
					595,112		518,730
				2	596,469		562461

				2021		2020
Cash flows from operating	activities				34,008		155,843
Net cash provided by / (used in) operating			activities
(Increase)/decrease in	debtors			17,446		(1,829)
Increase/(decrease) in	creditors			(116,389)		129,748
					(98,943)		128,119
Change in cash and cash	equivalents	in the year			(64,935)		283,962
Cash and cash equivalents	at the beginning		ofthe	year	721,296		437,334
Cash and cash equivalents	at the year	end			656,361		721,296

2.	DONATIONS	DONATIONS	AND LEGACIES
			Unrestricted		Restricted			Total	Total	Total	Total
				Funds		Funds		Funds	Funds	Funds	Funds
				2021 6		2021 6		2021f	2020f	2020f	2020f
	Trusts and	foundations		308,901		331,667		640,568	272,000	300,780	572,780
	Individual	donors		52,418				52,418	31,177		31,177
	Major donors			41,700				41,700	55,737		65,737
	Legacies								98,184		98,184
			6	403,019	6	331,667	6	734,686 f 467098 f		300,780 f	767878

INCOME FRO	M CHARITABLE ACTIV	ITIES	ITIES
		Unrestricted		Restricted			Total	Total
			Funds		Funds		Funds	Funds
			2021f		2021f		2021 f	2020
Contracts and	SLAs		13,001				13,001
Sale of reading	manuals		41,379				41,379	25,693
		6	54,380	6	Nil	6	54,380 f	26,693

5.	ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE	ANALYSIS OF EXPENDITURE
				Direct	Governance			Support		Total		Total
			Staff costs	costs		costs		cos'ts		2021		2020
			2	8		2		2		8
	Reading	programme	304,843	88,702		10,644		269,367		673,556		588,618
	Turning	pages special
	income	project (TPSI)		9,089						9,089		18,421
			304,843	97,791		10,644		269,367		682,645		607,037
	Fundraising costs		35,897	4,194		1,253		31,720		73,064		50,572
	Governance costs Support costs		247,009	11,897 54,078		(11,897)	~301,087)
			2 587,749 f	167,960	2	Nll	2	Nil	2	755,709	2	657,609
	2020
	Reading	programme	303,002	69,787		15,314		200,513		588,616
	Turning	pages special
	income	project (TPSf)	6,541	7,220		331		4,329		18,421
			309,543	77,007		15,645		204,842		607,037
	Fundra(sing costs		28,937	1,023		1,463		19,149		50,572
	Governance costs Support costs		7,087 179,148 f 524,695 f	10,041 44,843 132,914	2	(17,108) Nil	~223.WI Nil		2	657609

7.	STAFFCOSTS AND	STAFFCOSTS AND	NUMBERS
			Unrestricted	Restricted			Total	Unrestricted		Restricted		Total
			Funds		Funds		Funds		Funds	Funds		Funds
			2021		2021		2021		2020	2020		2020
			2		2		f		2
	Salary costs
	Wages and	salaries	232,555		200,259		432,814		253,590	103,975		357,565
	Social security costs		42,878				42,878		21,932	11,414		33,346
	Pension costs		13,166				13,168		7,606	3,121		10,727
	Redundancy	costs	9,415				9,415		20,000			20,000
			298,016		200,259		498,275		303,128	118,510		421,538
	Other staffing costs
	Recruitment		12,384		2,283		14,667		19,370	12,950		32,320
	Staff training and development		2,753		5,548		8,301		921	719		1,540
	Temporary	staff								20,237		20,237
	Consultancy		65,044		1,462		66,506		500	48,450		48,950
			2 378,197	2	209,552	6	587,749	2	323,819 5	200,875	2	524,695

SUPPORT AND GO	VER	NANCE COSTS
				2021		2020
				2
Support costs
Premises costs				8,460		19,495
Website and online	costs			10,930
PRA 8 other adverts				5,670
Other comms and	marketing			2,255
IT systems, computers		and office equipment		10,769		6,127
Telephones				4,613		4,603
Repairs and maintenance				1,609		459
Legal and professional		fees		2,400		157
Other running costs						4,964
Events and conferences				755		50
Staff travel and subsistence				5,037		1,377
Other office costs				1,580		5,412
				54,078		44,644
Governance costs
Board meetings				762		474
Audit				6,390		3,720
Audit preparation				1,200		1,200
Strategic review						500
Other governance	costs			3,545		4,146
				11,697		10,040
Support staff costs				247,009		179,148
Governance staff costs						7,067
			2	312,984	2	241,099

TANGIBLE FIXEDASSETS
	Office
	equipmentf
Cost
At 1 January 2021 and 31 December 2021	4,533
Depreciation
At 1 January 2021 and 31 December 2021	4,532
Net book value
At 31 December 2020
At 31 December 2021

DEBTORS	DEBTORS
Due within one		year			2021f		2020
Trade debtors					7,933		1,403
Accrued	income				2,415		23,480
VAT repayment		due			440		388
Prepayments					1,800		4,783
				f	12,588	2	30,034
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
					2021f		2020f
Deferred	grant income				60,000		142,500
Social security and other taxes							10,793
Accruals					12,481		35,577
				f	72,481	f'	188,870
Deferred	income
Balance	at 1 January 2021				142,500
Amount	released	to incoming resources			(142,500)
Amount	deferred	in the year			60,000		142,500
Balance	at 31 December 2021			f	60,000	2	142,500

STATEMENT OFFUNDS - 2020
						Transfers and
		Brought		Incoming	Resources		investment		Carried
		Forwardf		Resourcesf	Expended f	gains/(losses)			Forwardf
DESIGNATED FUNDS
Contingency Fund							50,000		50,000
Development Fund							75,000		75,000
	f	Nil	f	Nil	f Nil	f	125,000	f	125,000
						Transfers and
		Brought		Incoming	Resources		investment		Carried
		Forwardf		Resources	Expended f	gainsl(losses)			Forward
RESTRICTED FUNDS
National reading network		35,447		300,780	(292,498)				43,731
	f	35447	5	300,780	~f(292406	2	82	E	43.731
SUMMARYOF FUNDS
Designated Funds							125000		f25000
General Funds		371,171		512872	(365,113)				518,730
Restricted Funds		35,447		300,780	(292,495)				43,731
	f	4061118	2	8t3452	~2657900	E	(25000	f	68746t
17.ANALYSIS OF NET ASSETSBETWEEN FUNDS
				Unrestricted Funds
				Designated	General		Restricted		Total
				Funds f	Funds 2		Funds 2		Fundsf
Tangible fixed assets					1				1
Net current assets				125,000	470,111		1,357		596,468
			8	125,000	6 470,112	8	1,357	2	596,469
18.ANALYSIS OF THE NET MOVEMENT	IN FUNDS
			Unrestricted		Restricted		Total		Total
				Funds	Funds		Funds		Funds
				2021f	2021 2		2021f		2020f
Net movement in funds				76,382	(f42,374)		34,008		155,843
			2	76382	~2(42,374	E	34008	E	155843