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← The Dollywood Foundation UK

2023-12-31-accounts

The Dollywood Foundation UK Annual Report and Financial Statements for the year ended 31 December 2023

Charity Registration No. 1121917 (England and Wales). SC045571 (Scotland) Company Registration No. 06400437 (England and Wales)

Legal & Administrative Information

Trustees Dolly Parton
Ted Miller
Ruth Barker
Trevor Civval (Appointed 21/06/2023)
Louise Johns-Shepherd (Appointed 24/10/2023)
Secretary Ruth Barker
President Jeffrey Conyers
UK Executive Director Marion Gillooly
Charity Registration No. 1121917 (Scotland – SC045571)
Company number 06400437
Registered office 167-169 Great Portland Street
5th Floor
London
W1W 5PF
Accountants Burfords
Chartered Certified Accountants
19 Welling High Street
Welling
Kent
DA16 1TR
Auditor Mitchell Charlesworth
24 Nicholas Street
Chester
CH1 2AU
Bankers NatWest Bank
Strand Branch
PO Box 414
38 Strand
London
WC2H 5JB

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Table of Contents

Table of Contents
Message From Our Chair..................................................................................................... 04
Who We Are............................................................................................................................ 05
What We Do............................................................................................................................ 06
Objectives and Activities........................................................................................................................................... 06
Our Goal...................................................................................................................................................................... 06
Our Strategy................................................................................................................................................................ 06
Our Partnerships......................................................................................................................................................... 06
Trustees’ Report..................................................................................................................... 07
Public Benefits Statement.......................................................................................................................................... 07
Activities 2023............................................................................................................................................................. 07
Achievements 2023.................................................................................................................................................... 08
Our Impact................................................................................................................................................................... 10
How We Are Funded.................................................................................................................................................. 17
Financial Review.......................................................................................................................................................... 17
Plans for Future Periods............................................................................................................................................. 17
Risk Management....................................................................................................................................................... 17
Internal Controls......................................................................................................................................................... 18
Business Relationships............................................................................................................................................... 18
Structure, Governance and Management............................................................................................................... 18
Method of Appointment or Election of Trustees.................................................................................................... 18
Statement of Trustees’ Responsibilities................................................................................................................... 19
Auditor......................................................................................................................................................................... 19
Disclosure of Information to the Auditor................................................................................................................. 19
Audited Accounts.................................................................................................................. 20
Independent Auditor’s Report................................................................................................................................... 20
Statement of Financial Activity................................................................................................................................... 25
Balance Sheet.............................................................................................................................................................. 26
Statement of Cashflows.............................................................................................................................................. 27
Notes to the Financial Statements............................................................................................................................. 28

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Letter from Dolly

“Hi everybody. This is Dolly.

“Before he passed away, my Daddy told me the Imagination Library was probably the most important thing I had ever done. I can’t tell you how much that meant to me because I created the Imagination Library as a tribute to my Daddy. He was the smartest man I have ever known but I know in my heart his inability to read probably kept him from fulfilling all of his dreams.

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“Inspiring kids to love to read became my mission. In the beginning, my hope was simply to inspire the children in my home county but here we are today with a worldwide program that gives a book a month to millions of children.

“Of course, I have not done this alone. The real heroes of our story are the thousands of local organizations who have embraced my dream and made it their own. They raise millions of dollars each year and wake up every day with a passion to make sure their kids have every opportunity to succeed.

“It’s been quite a journey but we have so much more left to do. I would love for your community to join our family so please take the time to explore our website. Let’s share this dream that all children should grow up in a home full of books.

“The first step is always the hardest, but you’ll never know unless you try…”

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Who We Are

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Dolly Parton

Chairperson

Dolly Parton is an international icon with unprecedented success in music, entertainment, business and philanthropy. Including her eleven Grammy Awards, Dolly is the most honored female country performer of all time. Yet her achievements transcend her entertainment career.

In 1995, Dolly launched an exciting new effort, Dolly Parton’s Imagination Library, to benefit the children of her home county in East Tennessee, USA. Inspired by her father, Dolly’s vision was to inspire a love of reading among her county’s preschool children and their families.

Dolly’s dream grew year by year and country by country and today her Imagination Library mails millions of highquality, age-appropriate books monthly to registered children from birth to age five.

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Ted Miller

Vice Chairperson

Ted leads Dolly Parton Productions and represents Dolly in her various business interests across the country. Ted forged the partnership which created Dollywood in 1986.

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Trevor Civval

Trevor is an experienced executive and nonexecutive director, with both commercial and third sector organisations. He has particular experience in finance, strategy, and governance. Recent appointments have included as Chair of Corra Foundation, Changes East Lothian, and as trustee of both FirstPort and Social Bite. In addition, Trevor is a member of the Kilfinan Group, which offers mentoring advice to charity chief executives.

Trevor’s professional career has largely been in corporate finance and corporate advisory. Most recently, he was a founding partner of a firm which was established specifically to provide corporate finance advice to pension scheme trustees. Trevor lives in Edinburgh.

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Ruth Barker

Secretary

Ruth is a senior communications consultant with extensive experience in marketing, internal communications and public relations. Ruth first became involved with Dolly Parton’s Imagination Library in 2007, when she supported the US team to develop PR plans for the UK launch.

Ruth became a Trustee in 2015, having previously held a non executive director role with another UK charity committed to improving opportunities for young people.

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Louise Johns-Shepherd

Louise is an experienced charity leader and nonexecutive director. She is currently the Chief Executive of The Kids Network. From 2013 – 2023 she was the Chief Executive of the Centre for Literacy in Primary Education, a charity that works to support, research and promote the teaching of literacy throughout England. She has been the headteacher of two schools in England and worked in national education policy. Louise has a career-long commitment to putting early reading and literacy at the very heart of children’s learning and has seen first hand how book ownership and a love of reading really do change lives. Louise is also a school governor, on the board of directors of a children’s book prize and a trustee for a London Theatre.

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What We Do

Objectives and Activities

The Dollywood Foundation UK is a charitable company limited by guarantee and constituted under a Memorandum and Articles of Association dated 16 October 2007. It is a registered charity, number 1121917 (Scotland - SC044571).

The charity is a branch of The Dollywood Foundation Inc. and was established specifically to deliver Dolly Parton’s Imagination Library to children living in the UK. The Imagination Library is the flagship programme of The Dollywood Foundation, and is dedicated to improving children’s lives by inspiring a love of reading. Children enrolled in the Imagination Library receive a free high quality, age-appropriate book, personally addressed to them, every month until they turn five. Receiving a new book every month creates special moments for children and their families and has been shown to help literacy development. As Dolly Parton often says, ‘You can never get enough books into the hands of enough children.’

The Imagination Library is delivered in partnership with The Dollywood Foundation UK and local community organisations. Each local Imagination Library is championed and operated by people in the community, making sure it complements existing local projects and services. Local partners promote the Imagination Library and register children via our secure online book order system. Any community can participate in the Imagination Library if the offer of enrolment is available to all children aged between birth and five years within the community. All the books are new, and two are special editions with a welcome letter inserted in the first book and a letter of congratulations inserted into the last book, which the child receives the month they turn five.

All books in the Imagination Library are published by Penguin Random House UK, and carefully selected by a panel of experts in early childhood development and reading. The selection of books is refreshed regularly so families with multiple children will receive new books to enjoy.

The quality, frequency and duration of the Imagination Library’s book gifting are what makes the programme unique, and it has wide-ranging impacts on communication skills, vocabulary, school readiness and literacy development. Children registered in the programme at birth receive up to 60 books, creating their own personal library at home.

Our Goal

Our goal is to increase the number of children receiving a book each month through the expansion of the Imagination Library throughout the UK. This goal will be achieved by concentrating our efforts on extending our reach to new communities and investment in marketing resources. We will hire additional staff as required. The success, or otherwise, of the charity is measured on a yearly basis by its progress towards this goal.

Our Strategy

We will extend the reach of the Imagination Library by focusing on establishing new local programmes in key focus areas, and on sustaining and growing existing programmes by supporting our partners to reach more children in their communities.

Our Partnerships

We have gifted over 5 million books to under-fives in the UK and Ireland. That’s 5 million opportunities to inspire a lifelong love of books and reading in our youngest children. With our partnership approach, we can work together to get books into the homes, hands and hearts of children everywhere. We work with a range of partners across the UK and Ireland, all of whom share our belief that all children should grow up in a home full of books.

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Trustees’ Report

The trustees present their report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity’s governing document, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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) (as amended for accounting periods commencing from 1 January 2019)”.

Public Benefit Statement

The trustees have considered the activities and achievements of the charity for 2023 and its plans for 2024 against the Public Benefit Guidance issued by the Charity Commission. They agreed that the public who benefit directly from the work of the charity are those children up to the age of five receiving books through Dolly Parton’s Imagination Library. This free access to reading material promotes the home learning environment and helps to improve children’s vocabulary, speech, language and communication, confidence, imagination, empathy, and early literacy development. Children benefit directly, but there are also benefits for parents, caregivers, family members and the wider community.

Activities 2023

The Dollywood Foundation UK staff team is led by Executive Director Dr Marion Gillooly with three Regional Directors (one full-time, two part-time) covering the four UK nations and the Republic of Ireland.

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By the end of 2023, a total of 5,650,852 books had been sent to 210,026 children living in all four nations of the UK since Dolly Parton’s Imagination Library was launched in December 2007. During that time, books have been distributed successfully every month, with no interruptions in service, including during the Covid pandemic. We worked with nearly 350 local programme partners during 2023 to mail 647,258 books, and by the end of the year 53,848 children were receiving a free, age-appropriate book every month.

We launched the Imagination Library in the Republic of Ireland in February 2019. At the end of 2023, 307,483 books had been mailed to 12,327 children living in Dublin, Cork and Kildare, with over 6,000 children actively enrolled.

In August 2024, the Foundation announced Marion Gillooly's resignation. After much deliberation, Marion decided that the timing was right for her to step back and pursue a career that allows for parttime employment. Marion has been an invaluable leader during her tenure, and we are grateful for her many contributions that have significantly advanced our mission to get books into the hands and hearts of children across the U.K.

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Achievements 2023

15th Anniversary

2023 marked the 15th anniversary of the first books delivered by Dolly Parton’s Imagination Library in the UK.

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Throughout the year we celebrated reaching the amazing milestone of 5 million books gifted since 2008.

North Lincolnshire Celebrates 10 Years of Dolly Parton’s Imagination Library

On 20 January 2023, The Dollywood Foundation team, in partnership with North Lincolnshire Council, hosted at event at Normanby Hall, Scunthorpe to celebrate 10 years of the universal, council-funded programme. Local MP Andrew Percy and Council Leader Rob Waltham spoke about how important Dolly Parton’s Imagination Library was in terms of giving all children the best start in life and making North Lincolnshire a great place to live.

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Over from the USA, Dollywood Foundation President Jeff Conyers congratulated the team at North Lincolnshire on their leadership, longevity and vision. More than 25 local programme partners joined the event, together with staff, volunteers and community leaders from across the local area.

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Parliamentary Reception at Westminster

In June, we hosted a Parliamentary reception in the House of Commons, which was attended by MPs from across the political spectrum. The aim of the event was to raise awareness of the Imagination Library and encourage MPs to take the programme back to their constituencies. The reception was also an excellent opportunity to celebrate our 15th anniversary in the UK, and reaching the incredible milestone of having sent 5 million books to children in the UK since 2008.

200 Million Books Celebration

In September, during International Literacy Month, we joined our international partners in launching a celebration of the 200 million books gifted since the Imagination Library’s launch in the USA in 1995. Seven magical Dolly bookmarks were randomly placed inside Imagination Library books to children enrolled in the programme around the world to drive enrolment and build brand awareness.

Seven fortunate recipients from five different countries discovered these hidden bookmarks. The lucky winners from this side of the Atlantic live in South Lanarkshire and in Dublin. They and their families chatted online with Dolly, and they were excited to receive a personalised letter and autographed photo, plus tickets to the Dollywood Theme Park.

In addition, as a gesture of gratitude to our dedicated Local Programme Partners, The Dollywood Foundation donated £2,000 in each winning child’s name to their local Imagination Library partner.

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Celebrating 100,000 Books Gifted in Renfrewshire

Our programme partners in Renfrewshire celebrated gifting over 100,000 books at a civic reception in Paisley Town Hall in November.

The event, hosted by Provost Lorraine Cameron, was a celebration of the Imagination Library, and the joy it has brought to local children, families and communities. It was an honour to attend the first reception in the newly refurbished Town Hall, a fitting venue for a wonderful afternoon tea. The icing on the cake was a presentation from local coordinators Julie, Gail and Rachel, telling the story of the Imagination Library in Renfrewshire in a hilarious poem.

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Why is Dolly Parton’s Imagination Library Important?

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Sharing books from birth not only supports the development of language and literacy but creates the perfect environment to nurture bonds between babies and their caregivers.

Picture a young child snuggling in, sharing eye contact, enjoying the lilt of their parent’s voice as they connect with diverse characters and stories, exploring emotions and developing empathy.

These experiences are vital for children as they start to make sense of the world around them, giving them a solid foundation to explore, play and learn throughout their life.

How can the Imagination Library help

communities become the best place to grow up?

In 2022, Dr Caroline Zwierzchowska-Dod published ‘Books, Babies and Bonding’ - a U.K-based study of the Imagination Library. The research demonstrates the impact we can have on children through the simple gift of a book.

‘I absolutely love being part of the Imagination Library. I have always been a reader but my husband hasn‘t and I feel that the books we receive keeps my husband’s interest as my son loves it so much’

– Parent feedback

Raising Attainment for All

‘My children’s nursery

also give out an activity pack each month to match the book with they have loved doing and totally enhances the experience with the book.’ – Parent feedback

Receiving Imagination Library books for 12 months or more correlates with improved academic outcomes at age 5, across the socio-economic spectrum.

Building Secure Attachment

Participation in the Imagination Library strengthens parent-child attachment through frequent reading, with parents identifying bonding as the main benefit of participating in the programme.

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Supporting the Home Learning Environment

The curated book selection introduced new authors into the home and is highly valued by parents. Parents who receive Imagination Library books are 30% more likely to read daily with their child, helping build foundational literacy skills.

A Place Based Approach

Through our place-based universal offer, research shows that the Imagination Library strengthens communities by creating “shared cultural capital”, where all children and families experience the same exposure to literature.

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North Lincolnshire Council

The local authority wide programme for all children through age 5 in North Lincolnshire has been operating since 2013, with more than 1 million books mailed to 26,696 children.

The council has followed the cohort of children through the Early Years Foundation Stage (EYFS), Year 1 phonics screening (Y1), and SATS tests at Key Stage 1 (KS1) and 2 (KS2).

Significantly enhanced emergent literacy skills are seen through EYFS as shown here:

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----- Start of picture text -----
EYFS Year 1 and KS1
Significantly enhances Producing lasting impact
emergent literacy skills on learning at school
In 2022, 67.1% of children registered with In Year 1, 74% of children who had received
the Imagination Library achieved a good Imagination Library books met the expected
level of development at the end of the EYFS, standard in the phonics screening test,
compared to 52.6% of children who were compared to 57% of children who were not
not registered, difference 14.5ppts registered, difference 17ppts
60% of boys registered with the Imagination KS1 Reading: 67% met Expected Standard
Library achieved a GLD compared to 49% (registered with IL) and 545 for those not
for boys not receiving the books registered, difference 13ppts
When socio-demographic factors were KS1 Writing: 57% met Expected Standard
taken into account, Imagination Library (registered with IL) and 49% for those not
participation was related to a relative registered, difference 8ppts
increase in the likelihood of achieving a GLD KS1 Maths: 67% met Expected Standard
pass by 40% and achieving the Early (registered with IL) and 58% for those not
Learning Goal of reading by 54% registered, difference 9ppts
----- End of picture text -----

Source: North Lincolnshire Council

The longitudinal Impact is evident throughout the primary years as this table for KS2 demonstrates:

% of Children achieving the expected standard or above

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----- Start of picture text -----
RWM Reading Writing Maths
All Children 58.1% 71.7% 71.9% 69.6%
Imagination Library Cohort 60.6% 73.5% 74.3% 70.8%
Unregistered Cohort 52.7% 67.8% 66.6% 66.9%
Diff - IL cohort vs unregistered 7.9% 5.7% 7.7% 3.9%
----- End of picture text -----

Source: North Lincolnshire Council

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RENFREWSHIRE CASE STUDY

Inspiring Early Years Professionals in Renfrewshire

Renfrewshire Council have established a network of over 100 Imagination Library programme ambassadors from early years settings across Renfrewshire.

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100% of ambassadors indicated that Imagination Library books are used as a vehicle to support wider learning

“Dolly Parton’s imagination library has not only provided literacy rich opportunities to so many children and families universally but the positive impact it has had on the children within our establishment has inspired our practitioners to weave this through all areas of the curriculum.”

95% of ambassadors agree that Imagination Library has raised the profile of reading for pleasure in their establishments and has supported the creation of a reading culture

“The Imagination Library supports our practice and helps our staff understand what makes a great quality book. We know these books have been quality checked and it gives practitioners confidence to look further into that author or type of book. It’s really improved the quality of books we provide within our early years settings.”

The group of qualified teachers and early years professionals support each other to bring the magic of the Imagination Library to Early Learning and Childhood Centres across the local authority.

100% of ambassadors agreed that Imagination Library supports children’s learning/development in early years settings and helps prepare children for starting school.

“The range of books and how carefully they are chosen really helps us focus on parts of the curriculum, like knowledge and understanding of rhyming and syllables. Using Renfrewshire’s Early Years Progression Tool, we have seen real improvements in outcomes for children.”

Early Years Progression Tool Milestones Comparison 2022-2023

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----- Start of picture text -----
2022 2023
100
80 93%
60 63% 78%
63%
40
20
0
I can listen, respond and recall I can recall and talk about
information appropriately in characters and events in stories
different contexts
----- End of picture text -----

FROM: Auchenlodment Early Learning and Childhood Centre in Johnstone

95% of ambassadors find Imagination Library a useful tool to support family learning and engagement

“We’ve seen our parental engagement sky rocket! We create home activities that link to each book and develop skills across literacy, numeracy and wellbeing. 87% of families take part in these activities.”

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RENFREWSHIRE CASE STUDY

St. Catherine’s Early Childhood Centre

St Catherine’s Early Childhood Centre in Paisley has shared some of the impact of offering the Imagination Library for three years:

children are more engaged when listening to stories children are able to discuss a story and characters confidently

children will often go to the class library area unprompted to look at different stories children are more interested in role play opportunities at their learning zones children can make connections to different stories they have read

‘In our setting we have seen a vast improvement in children’s love for books and stories. Children are able to stay engaged more in literacy-based experiences and seem to have a better interest in books provided.’

– Staff from St Catherine’s ELCC

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Monton Medical Centre

In May 2023, we were delighted when long term partner Dullatur Foundation supported the startup of a new Imagination Library in Salford, in partnership with Monton Medical Centre.

This was the first time that we have worked directly with a GP Surgery, to register babies at the earliest possible stage. Thanks to Katie, a brilliant Practice Nurse, babies and their siblings are registered at their 8 week check, and given a copy of the welcome book, The Tale of Peter Rabbit, to take away with them.

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Work is ongoing in partnership with researchers at Manchester Metropolitan University to evaluate the impact of the Imagination Library on children and families registered through Monton Medical Centre.

This model has proved extremely successful and by the end of 2023, 1,168 books had already been delivered to 221 children in the city.

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Helensburgh Community Hub

Helensburgh Imagination Library is Scotland’s largest town-wide Imagination Library. Gill Simpson, manager of Helensburgh Community Hub, shares how their partnership with The Dollywood Foundation has supported their organisation to develop and grow.

“I had no idea about the Imagination Library but I went along to a session at The Gathering because my husband loves Dolly Parton! As I was sitting listening, it just made me realise how much we could do with this.”

Gill is a passionate about the power of sharing books and, through the Hub, she is developing a pathway from birth to adulthood to encourage people to fall in love with reading.

“We were already promoting reading for pleasure and getting involved with the Imagination Library has given us real momentum to focus on that work – it’s given us an identity. “The main benefit has been encouraging more families to come into the Hub as both the Imagination Library and our sessions for families complement each other nicely.

Connecting Communities through Dolly Parton’s Imagination Library

Being a small local charity, Gill was keen to make sure that running the Imagination Library would be sustainable for them, she says,

“The set up and Book Order System is a Rolls Royce experience. I just work part time, so it’s a weight off my mind knowing that I can leave the admin to a volunteer and focus much more on promoting the programme. If the system wasn’t as slick it would be a challenge.”

“We fund our Imagination Library through income from our second-hand bookshop. Older people come to us because they see Dolly, they then buy books, and that income is reinvested in the Imagination Library. People like it because it’s tangible and they can see what their donation does. It has helped our income grow.”

“We’re now following up the Imagination Library with our own events in school and adult reading, making it a lifelong experience. Dolly has inspired us to think magically!”

The programme has also helped The Hub get to know organisations working across the town, growing their network, and supporting partnership working across the sector.

“We now work with Home Start and other organisations supporting under-fives. Having a Helensburgh wide Imagination Library adds a richness to how we work together.

“The universal nature of the Imagination Library really helps with this – there’s no stigma! It’s just a joyful thing that sits behind the work we all do, supporting us and helping us connect with other agencies and the community.”

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What Parents Are Saying

My son was non-verbal and it was a book from the Imagination Library that made him say train for the first time

It's like a gifted surprise that they unwrap themselves and are excited about what book they'll receive this month.

I love that she picks the book and sits in my lap and asks me to read. She keeps picking the same book over and over and I can now actually read the book aloud to her without actually seeing the books

My child now reads the books to me competently and is only 3 Years old. Reading is his superpower and we may not have discovered it without the imagination library so again thanks to all who support this valuable asset to both Children and parents

The joy in my son's face when he received his very own book in the post and trying to open the envelop himself. It made books special and something to be treasured and gifted. We hold books in very high regard in our house and thus helped my son really value them.

I loved the last book we received for my eldest when he turned 5. The dedication inside is beautiful and really made me feel like we'd been on a wonderful journey together, one that I can look back on through the books we received at each age.

I cannot express how wonderful I think this scheme is. It is heartwarming and life changing for young people.

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How We Are Funded

The simplicity of the Imagination Library, and the efficiency of its cost-sharing model contribute to its sustainability.

All core costs, including administrative, operational, website, database management, marketing, training and technical assistance, are absorbed by The Dollywood Foundation UK, through grant funding from The Dollywood Foundation Inc. Furthermore, the Dollywood Foundation negotiates the costs of printing, wrapping, labelling and mailing. The Foundation assists community partners with local promotion for the programme, and in registering children via our secure, GDPR compliant, online database. Books are free of charge to families - each community reimburses The Dollywood Foundation UK for the costs of the books and mailing for enrolled children.

When we partner with a community, we ask that they pay just £2.16 per child per month to cover the cost of books and mailing. Across the UK and Ireland, our community partners access funding from a range of sources. Some programmes have only one source of funding, such as the local authority, but others use a blended funding model. Local and central government, businesses big and small, public health, Rotary clubs, charities, housing associations, early years settings, trusts, foundations and private individuals are all encouraged to support the programme.

Financial Review

The charity was initially funded in 2008 by a grant from its US parent of $25,000, a £5,000 donation from Shine Communications and the proceeds of a concert given by Dolly Parton totalling £121,785.

In 2023, Income from charitable activities totalled £1,460,404 (2022: £1,355,762) and the charity made a surplus of £42,449 (2022 surplus £62,907) after grants from its US parent totalling £Nil (2022: £Nil).

At 31 December 2023 the charity had free reserves of £495,117 (2022: £452,668) which will cover the overheads of the charity in the short and medium terms. Any future shortfall in reserves will be covered by grants from the parent Foundation in the US.

Plans for Future Periods

In December 2023, the board approved a 5 year growth plan to increase the number of children receiving a book each month to 250,000 children.

The focus is on target local authority areas, aiming to establish community-wide access to the Imagination Library in selected areas.

Risk Management

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems are in place to mitigate our exposure to the major risks.

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Internal Controls

The system of internal controls is designed to provide reasonable assurance against material statement or loss.

The Dollywood Foundation UK's internal controls include:

Business Relationships

Key suppliers are introduced to the charity by its US counterpart who has existing relationships with them.

Our publishing partner is Penguin Random House Ltd., packing and distributing the books is handled by Central Mailing Services Ltd, and the books are delivered to children’s homes via Royal Mail.

Structure, Governance and Management

The charity is a company limited by guarantee, incorporated on the 16 October 2007 and is therefore governed by a Memorandum and Articles of Association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of this report were:

Method of Appointment or Election of Trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.

Under the Articles the number of trustees is at least 3 and not more than 6. There are currently 5 trustees.

Trustees are appointed by The Dollywood Foundation. Dolly Parton shall be the Chairman of the Board of Trustees for the duration of her tenure as a trustee.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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Statement of Trustees' Responsibilities

The trustees, who are also the directors of The Dollywood Foundation UK for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the trustees are required to:

select suitable accounting policies and then apply them consistently;

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006, the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of Information to Auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

24 September 2024

Ted Miller

Date

Trustee

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Independent Auditor’s Report for the Year Ended 31 December 2023

Opinion

We have audited the financial statements of The Dollywood Foundation UK (the ‘Charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Charity 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 the charity’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 annual 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 stated in our report, we do not express any form of assurance conclusion thereon.

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Independent Auditor’s Report for the Year Ended 31 December 2023

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 our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees' 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:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the Charity for the purpose 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 Charity’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.

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Independent Auditor’s Report for the Year Ended 31 December 2023

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 the Acts and relevant regulations made or having effect thereunder.

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, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

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

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Independent Auditor’s Report for the Year Ended 31 December 2023

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i)The presentation of the charity's Statement of Financial Activities, (ii) the charity's accounting policy for revenue recognition and (iii) the charity's use of restricted funds. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, and the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. This includes regulations concerning Data Protection Regulations.

Audit response to risks identified

As a result of performing the above, we identified income recognition, override of controls and adherence to laws and regulations as the key audit matters related to the potential risk of fraud.

Our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor’s Report for the Year Ended 31 December 2023

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 to the regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditors' 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, the charitable company’s members as a body, and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Hall (Senior Statutory Auditor)

For and on behalf of Mitchell Charlesworth (Audit) Limited

24 Nicholas Street Chester CH1 2AU

Date:

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Statement of Financial Activity

for the Year Ended 31 December 2023

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total Income
Expenditure On:
Charitable Activities
6
Net income for the year/
Net movement in funds
Fund balances at 1
January 2023
Fund balances at 31
December 2023		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2023
£
Total
2022
£
36,530
-
36,530
71,821
1,460,404
-
1,460,404
1,355,762
4,899
-
4,899
940
1,501,833
-
1,501,833
1,428,523
1,459,384
-
1,459,384
1,365,616
42,449
-
42,449
62,907
452,668
-
452,668
389,761
495,117
-
495,117
452,668

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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Balance Sheet

for the Year Ended 31 December 2023

Notes
Current assets
Stock
12
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net Current Assets
Total assets less current liabilities
Income funds
Unrestricted funds
17		 2023
£
2022
£
24,100
36,251
208,320
161,207
773,502
790,462
1,005,922
987,920
(510,805)
(535,252)
495,117
452,668
495,117
452,668
495,117
452,668

The accounts were approved by the Trustees and authorised for issue on the

September 24, 2024

Date

Ted Miller Trustee

Company Registration No. 0640037

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Statement of Cashflows

for the Year Ended 31 December 2023

Notes
Cash flows from operating
activities
Cash generated from/(absorbed by)
operations
18
Investing Activities
Interest Received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and
cash equivalents
Cash and cash equivalents at
beginning of year
Cash and cash equivalents at end
of year		 2023
£
2022
£
(21,859)
80,687
4,899
940
4,899
940
-
-
(16,960)
81,627
790,462
708,835
773,502
790,462

Analysis of changes in net debt

The charity did not hold any overdraft or loan facilities nor finance lease obligation at the start or during the period covered by these financial statements or in the previous accounting period.

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Notes to the Financial Statements for the Year Ended 31 December 2023

1 Accounting policies

Company information

The Dollywood Foundation UK is a private company limited by guarantee incorporated in England and Wales. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities governing document, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended) 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)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.3 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset

1.4 Resources expended

Expenditure is recognised when a liability is incurred.

Charitable activities include expenditure associated with the delivery of children’s books to members.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

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Notes to the Financial Statements for the Year Ended 31 December 2023

1.5 Stock

Stock is valued at the lower of cost and net realisable value.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred on marketing, selling and distribution.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 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 in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

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Notes to the Financial Statements for the Year Ended 31 December 2023

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2

Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees 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.

Donations and Legacies
Donations and grants		 2023
£
2022
£
36,530
71,821

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3

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Notes to the Financial Statements for the Year Ended 31 December 2023

Donations and grants
Donations
Gift aid
4
Charitable Activities
Income from charitable activities
Analysis by fund
Unrestricted funds
Restricted funds
5
Investments
Interest receivable
6
Charitable activities
Books and mailing costs
Staff Costs
Promotion, selection and marketing costs
Grants to Local Programme Partners
Share of support costs (see note 8)
Share of governance costs (see note 8)		 2023
£
2022
£
32,840
60,955
3,690
10,866
36,530
71,821
1,460,404
1,355,762
1,460,404
1,355,762
1,460,404
1,355,762
-
-
1,460,404
1,355,762
4,899
940
1,161,247
1,058,147
217,933
206,233
7,689
6,018
32,561
60,631
1,419,430
1,331,029
31,817
26,742
8,137
7,845
1,459,384
1,365,616

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Notes to the Financial Statements for the Year Ended 31 December 2023

Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
2022
£
1,459,384
1,365,616
-
-
1,459,384
1,365,616

7

Description of charitable activities

The provision of pre-primary education, specifically by the supply of children’s literature.

8

Support Costs
Travel
Telephone and postage
Bank charges
Education and training
Other expenses
Directors Insurance
Accountancy and Payroll
Audit fees
Subscriptions and
licences
Unrestricted funds
Analyses between
Charitable activities		 Support Costs
£
Governance
costs
£
2023
£
2022
£
Basis of
allocation
19,129
-
19,129
13,676
4,193
-
4,193
4,700
1,094
-
1,094
1,012
2,904
-
2,904
-
4,497
-
4,497
7,354
-
1,026
1,026
946
Governance
-
2,875
2,875
2,038
Governance
-
3,000
3,000
2,850
Governance
-
1,236
1,236
2,011
Governance
31,817
8,137
39,954
34,587
31,817
8,137
39,954
34,587
31,817
8,137
39,954
34,587
31,817
8,137
39,954
34,587

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Notes to the Financial Statements

for the Year Ended 31 December 2023

9
Net movement in Funds
Net movement in funds is stated after
charging/(crediting)
Fees payable to the company's auditor for the audit of
the company's financial statements		 2023
£
2022
£
3,000
2,850

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits including reimbursed expenses from the charity during the current or prior year.

11 Employees

Number of Employees 2023 2022
The average monthly number employees during the year was: Number Number
Charitable Staff 4 4
4 4
Employment Costs 2023
£		 2022
£
Wages and salaries 189,788 179,055
Consultant fee - 1,100
Social security costs 16,170 14,717
Other pension costs 11,975 11,361
217,933 206,233

One employee received remuneration between £80,000 and £90,000 in the current year (2022 - 1). In addition the charity utilised 250 hours (2022 - 250) of donated time from the President of the Dollywood Foundation USA, Director of Operations and Chief Finance Officer DWF USA. All employees are full-time.

12 Stock 2023
£		 2022
£
Stock of books 24,100 36,251

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Notes to the Financial Statements

for the Year Ended 31 December 2023

13
Financial instruments
Carrying amount of financial assets
Carrying amount of financial liabilities
Measured at amortised cost
14
Debtors
Amounts falling due within one year
Trade debtors
Due to Dollywood Foundation USA
VAT recoverable
Prepayments and accrued income
15
Creditors
Amounts falling due within one year
Deferred income
Trade creditors
PAYE payable
Other creditors and accruals		 2023
£
2022
£
884,324
816,159
117,528
108,614
2023
£
2022
£
110,822
25,697
-
-
28,547
23,860
68,951
111,650
208,320
161,207
2023
£
2022
£
384,613
418,383
109,001
101,131
8,664
8,255
8,527
7,483
510,805
535,252

Deferred income arises from affiliates making advance payments for books.

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Notes to the Financial Statements for the Year Ended 31 December 2023

16 Related party transactions

Remuneration of key management personnel

Total employee benefits of the key management personnel (including pension contributions and employer’s national insurance totalled £109,833 (2022 - £103,488).

During the year the charity received £0 (2022 - £0) from The Dollywood Foundation USA to cover overheads and governance costs.

Remuneration of key management personnel is determined annually by Trustees. Traditionally, the level of remuneration has been determined by reference to other similar roles in the sector. Factors such as performance and RPI are also taken into account.

17

Unrestricted Funds 2023 2022
£ £
Unrestricted funds brought forward 452,668 389,761
Net movement in funds 42,449 62,907
Unrestricted funds carried forward 495,117 452,668

Due to the charity only being in receipt of unrestricted funds no analysis of net assets note has been produced as this is disclosed on the balance sheet.

18

Unrestricted Funds
Unrestricted funds brought forward
Net movement in funds
Unrestricted funds carried forward		 2023
£
2022
£
452,668
389,761
42,449
62,907
495,117
452,668
s no analysis of net assets note has been
Cash generated from operations
Surplus for the year
Adjustments for Investment income recognised in
statement of financial activities
Movements in working capital:
Decrease/(increase) in stocks
(Increase)/decrease in debtors
increase/(decrease) in creditors
Cash generated from operations		 2023
£
2022
£
42,449
62,907
(4,899)
(940)
12,151
(21,184)
(47,113)
(89,110)
(24,447)
129,014
(21,859)
80,687

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