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||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|
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|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|||
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|||||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||
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|||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|
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|||||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|
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|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|
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|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|
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|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|||
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|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|
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|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|
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|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||
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|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|
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|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|
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