2023-08-31-accounts

CHILDREN’S LITERACY CHARITY | THE

The Children’s Literacy Charity

Annual Report and Accounts

Year Ended 31° August 2023

Registered Charity Number 1124257 Company Incorporated in England and Wales Registered Company Number 6251103

Contents

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From the Chairand CEO sedécasiassiiiercnimsainiinnicnniarniontatnwisctnmmenciaeAl
Trustees’ report Jcsscscercccmncicncensstameecseannaeirercraana nine meme inna O
Financial review ssscianaccassacaccmanniasamiensiekncniimmne eames OD
Independent Auditors’ report ssicssaciwccnrtummannincaiveasmiveiinwrnninnciscemimicne 14
Financialstatementssncancmcmnaicenccasminnimainaauuniamaniamcnacs:16

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Legal & Administrative Details as at 31st August 2023

Charity Name:	The Children’s Literacy Charity
Company Number:	6251103
Charity Number:	1124257
Registered Address:	Conrad Court, Cary Avenue, London SE16 7EJ
	Telephone: 020 7740 1008
	Email: [e-mail]
	Website: www.thechildrensliteracycharity.org.uk
Patrons:	Sarah, Duchess ofYork
	The Lord Harris of Peckham
	The Lord Hastings ofScarisbrick CBE
	The Lord Lingfield
	Noel Gordon
	MargaretMcVeigh

Trustee	Board:	For the purposes of the Companies Act 2006, the Board of
		Trustees is regarded as the Board of Directors ofthe company.
		The Trustees of the company throughout the year and to the
		date of signing this report are as follows:
		Jeffrey Defries (Chair)
		Steven Artist (Deputy Chair)
		Andrew Martin
		Dr JennyThomson
		NicoleMagoon(appointedNovember2023)

Senior Management: Isabel Greenwood - CEO Halima Begum — Head of Finance Michelle Bennett — Head of Fundraising Julie Taylor — Education Lead

Bankers: Lloyds Bank pic 34 Moorgate, London EC2R 6PL Scottish Widows 25 Gresham Street, London EC2V 7HN

Auditors: Begbies Chartered Accountants and Registered Auditors 9 Bonhill Street, London EC2A 4DJ

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From the Chair and CEO

22/23 saw continued strong delivery of the charity’s work across both our well-established Literacy Lab and our newer Reading Lab programmes as well as encouraging progress in our parental engagement initiatives and increased demand for Reader Leader mentoring.

As a specialist literacy intervention, achieving significant impact through our tuition remains a core goal of the charity and last year we were again successful in closing the literacy gap for the vast majority of children graduating from Literacy Lab: 73% closed their reading age gap entirely and 87% closed or significantly narrowed their reading gap.

These results were particularly pleasing given that the year saw the roll out of our 1:3 Literacy Labs. Assessment data shows that overall this small group programme is as effective as our 1:1 tuition in delivering similar outcomes. After one month of Literacy Lab tuition children are on average making 4.5 months of reading progress and 4.2 months of reading comprehension progress. These ratio gains are outstanding (Brooks 2007) and we are very clearly focused on maintaining this high level of impact.

We also saw our graduation level for Literacy Lab pupils return to pre-pandemic levels: 82% of children leaving the Literacy Lab programme successfully graduated after on average receiving two terms of tutoring.

While Literacy Lab effectively addresses the needs of younger primary school children, the roll out of Reading Lab for older pupils has been positive. Schools report a significant impact on pupils as a result of attending the 10-week programme: children become more confident and resilient; their classroom behaviour and engagement improves and they develop a love of reading. It has also been pleasing to receive school feedback praising the quality of our tutors.

Increasingly, involving parents in their child’s literacy journey is an important part of our work and there is much evidence pointing to the significant role parental support plays in a child’s success at school.

This is especially so in the post Covid environment where disadvantaged pupils continue to struggle to catch up with lost time and poor attendance at school has becomea significant issue, meaning more children are at danger of being left behind.

As well as regular communication throughout the school year, we now invite parents and families to introductory workshops and celebration assemblies and these initiatives are welcomed and valued by our school partners.

Last year also saw increased demand for our Reader Leader mentoring programme where older secondary school pupils become reading mentors for younger children.

It is pleasing to see the positive impact this low-cost training day has in helping to embed a culture of reading across a school but alongside this is evidence that a growing number of children are now starting secondary school needing additional literacy support.

A Centre for Social Justice report shows that in 2022, 57% of disadvantaged pupils left primary school not reaching the expected standard in literacy or maths. With the education attainment gap the widest it has been for a decade, too many children are unable to engage with the school curriculum because of poor literacy.

There is, therefore, no doubt in our minds that the need for effective literacy intervention remains as high as it has ever been and at a time when schools are under considerable pressure.

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While we were delighted to become an accredited Tuition Partner for the Department for Education’s National Tutoring Programme, we are conscious of doing all that we can to keep the cost of our tuition as low as possible. To that effect, we continue to be extremely grateful to the individuals, trusts and foundations and corporate organisations for their support in helping us address educational inequalities. We see a growing recognition that tackling poor literacy is crucial if children are to thrive in today’s world and we will continue to focus our work on those young people who need the most help.

As always, our extraordinary tutors are the backbone of our small charity. We are grateful for their care and dedication in delivering life changing literacy skills to the children we support.

Jeffrey Defries, Chair of Trustees

Isabel Greenwood, CEO

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Our Vision

The vision of The Children’s Literacy Charity is to close the literacy gap for all disadvantaged children, enabling them to achieve their true potential.

Working in primary schools in some of the most deprived areas of the country, the charity’s specialist tutors provide tailored, one-to-one and small group literacy tuition, giving disadvantaged children the chance to catch up with their peers, grow in skills and confidence and engage with learning.

The charity firmly believes that the earlier the intervention, the greater the benefit and that its focus on all aspects of literacy — reading, writing, comprehension, speaking and listening — as well as the use of high quality, expert tutors delivers remarkable results.

The scale of the need

Every year 150,000 of the poorest children start school with language skills one and a half years behind their peers. For some their literacy gap is so significant they struggle to make progress in the mainstream classroom throughout their primary education and ultimately at secondary schoo! too.

The most disadvantaged children are often the furthest behind and if they do not catch up, their literacy gap will have a profound effect on the rest of their lives. Poor literacy affects confidence and engagement: when children struggle at school they are more likely to truant, and on leaving school, are less likely to find employment and more vulnerable to criminal influences. By 2025 it is estimated that 1.5 million children in the UK will reach 11 unable to read well.

How we change lives, for good

The Children’s Literacy Charity aims to transform the life chances of disadvantaged children who are at risk of being left behind in the education system. Through the provision of tailored, face to face, specialist tuition, these children not only gain important literacy skills but start to engage with learning, growing in self-esteem and resilience as a result.

The vulnerable children we work with havea literacy level that can be between one to two years behind their peers, and sometimes greater. The barriers to their learning include: coming from socioeconomically disadvantaged backgrounds; speaking English as an additional language; having some form of special educational need such as dyslexia, dyspraxia or mild autism; having parents or carers who also struggle with their literacy; having chaotic home lives and/or disrupted school attendance.

We deliver a structured, multi-sensory literacy intervention which builds on the mechanics of reading, developing language and understanding and ultimately opening up the opportunities that reading fluency provides. Children not only close their literacy gap but we raise their expectations of themselves as learners: with improved literacy skills, children can begin to engage with the curriculum. This approach is the key to addressing the multiple, complex barriers to learning that many disadvantaged children experience. Our literacy intervention broadens horizons, giving children who are most behind a crucial and potentially life changing opportunity to return to the classroom with greater independence and confidence.

In 2022/23 the charity directly supported 1,045 children across both our specialist tuition and our wider literacy work in primary and secondary schools.

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Supporting disadvantaged children through our Expert Literacy Programmes

In 2022/23 the charity's Expert Programme delivered 10,688 tuition sessions, supporting a total of 473 children. 246 of these pupils were tutored through our Literacy Lab programme and a further 227 children were tutored through the rollout of our Reading Lab programme.

We worked with 20 partner schools across London and also in Manchester. In five of these schools we partnered with the West London Zone.

Literacy Lab

Each child or 1:3 group on the Literacy Lab programme has two, 45-minute, literacy sessions per week with their tutor. Our intervention is particularly effective because we capitalise on the strengths of each child and focus teaching on the areas where they need the greatest help. In 22/23 every child on the programme made progress and of the children who graduated, the majority (87%) came within six months of closing their reading age gap; 73% closed their reading age gap completely and 84% achieved age-related comprehension skills.

Children who joined our programme had an average reading age gap of ten months against their chronological age. On graduating from our programme, the children’s average reading age showed them to be six months ahead of age-related expectations. Children who began our programme had an average reading comprehension age gap of five months against their chronological age. On graduating, children’s average reading comprehension age showed them to be ten months ahead of age-related expectations.

In 2022/23, the pupils graduating from our Literacy Labs have achieved remarkable ratio gains for reading. This is the gain in reading age made during a chronological time span. A gain of above 4.0 — that is for every one month on the programme, a child gains over four months in their literacy development — is rated as ‘remarkable impact’. In this academic year the ratio gain for reading was 4.5 and 4.2 for comprehension. An average pupil in a classroom working at age-related expectations would make a gain of one year in one academic year.

Our approach has been independently validated by the University of Sheffield which found our Expert programme “demonstrated effectiveness in significantly progressing the literacy skills of the most disadvantaged student groups in the country” and offered “a gold standard in provision.”

Reading Lab

As part of the expert programme in 22/23, we continued the roll out of our one-to-three, 10-week Reading Lab catch up intervention, delivering 15 Reading Labs in ten schools. The focus of the programme is on reading comprehension, fluency and vocabulary to build confidence and literacy skills ahead of the transition to secondary school.

The results continue to be encouraging: on average, after 10 weeks, children made six months of progress. 55% of the children attending Reading Lab narrowed their reading gap and 29% narrowed their gap to within six months of the assessed reading age.

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Children Supported Through Our Expert Programmes

Of the children we helped through our Expert tuition this year (all Literacy/Reading Labs):

EAL 50% had English as an additional language SEN 27% were in receipt of Special Educational Needs (SEN) support PP 45% were eligible for Pupil Premium

SEN & PP 12% were on the SEN register as well as being eligible for Pupil Premium

Reader Leader Mentoring Programme

Demand for our Reader Leader programme, where we train older secondary school students to mentor younger pupils through one-to-one reading support, had been significantly impacted by post pandemic caution about mixing children from different year groups.

However, in 22/23 we began to see this change and we delivered the one-day Reader Leader programme in nine schools, training 286 ‘Leaders’ to mentor at least 286 younger ‘Readers’. This cost-effective training module is well received by schools and during the year we invested time in developing the programme.

Charitable objects as set out in our governing document

Our primary goal is to advance educational equality by the provision of educational support in England, tailored to individual children of primary and secondary school age needing extra help in literacy skills, including those children with specific learning difficulties. We also share our expertise through the delivery of training programmes.

Supporters of The Children’s Literacy Charity

We are especially grateful to the many individuals and organisations who support our work and would like to extend our sincere thanks to the following donors who have given so generously over the year.

Banham Foundation Recorra Barings LLC Sarah's Trust Brown Advisory SE Franklin Charity Trust Copyright Licensing Community Fund SELCHP Ltd CVC Advisers Limited Squarepoint Foundation Findlay Park St Giles & St George Garfield Weston Foundation Julia and Hans Rausing Girdlers’ Company Charitable Trust The Swire Charitable Trust Informa The Zochonis Charitable Trust Masonic Charitable Foundation Walcot Foundation Mrs Wordsmith Wellington Management UK Foundation Pulse

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Financial Review

The total income for the year was £628,146 compared with £480,607 in 2021/22. Income from Trusts and Foundations accounted for 31%, with Corporate income totalling 33%. School fees accounted for 25%, with the remaining 11% being raised from a combination of other income, including individual giving, general donations and training fees.

Total expenditure for 2022/23 was £537,895 compared to £468,410 in 2021/22. The increased expenditure in 22/23 reflects the growth in programme delivery over the year, with 84% being spent on core activities and 16% on raising funds.

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Other
2% Raising Funds
School fees Trusts & Hees
25% Foundations
31%
Expenditure
Donations
9%
Corporates Core Activities
33% 84%
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Reserves Policy

The reserves as at 31% August 2023 totalled £404,870. This is made up of the designated liquidation fund of £120,000, a further £60,000 to invest in capacity building, and general funds of £224,870, of which £1,834 is invested in the charity's fixed assets. As at 31* August 2023 the charity’s free reserves totalled £223,036.

The charity's reserves policy is to hold three months of expenditure in reserves for the purpose of protecting the work of the charity in the short term should funding targets not be met or if the charity should need to cease/curtail its activities. The policy is reviewed annually, when specific factors affecting the level of reserves are reviewed, primarily relating to contractual obligations for employees. As at 31%t August 2023 the charity’s free reserves were sufficient to meet the trustees’ reserves policy.

Going concern

The Trustees believe that the charity has adequate resources to continue in operational existence as future funds receivable are anticipated to be sufficient to fund committed projects. Nevertheless, they will continue to monitor the charity’s spending and cash flow regularly to ensure that its liabilities are met as they fall due. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Risk Assessment and Management

The Trustees and Senior Management Team are responsible for the assessment and management of risks faced by the charity, ensuring that all risks are reviewed and that there are procedures and policies in place to mitigate against those risks.

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A risk register is in place which is reviewed by the Trustees once a year at a board meeting. Risks are identified during the review and are monitored and controlled on an ongoing basis. Risks include, but are not limited to, loss of key staff; changes in school needs or Government policy; safeguarding; and shortfalls in fundraising.

Investment Policy

Reserves are held on deposit with Lloyds Banking Group and Scottish Widows. A review of the investment return is carried out on a regular basis and decisions on where to hold surplus funds are made on the basis of interest rates and accessibility.

Organisational Structure

Structure, Governance and Management

The Children’s Literacy Charity is a charitable company limited by guarantee, incorporated on 17th May 2007 and registered as a charity 30th May 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.

Statement of Trustees Responsibility

The Trustees (who are also directors of The Children’s Literacy Charity for the purposes of company law) are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

• e select suitable accounting policies and then apply them consistently;

• e observe the methods and principles in the Charities SORP; e make judgements and estimates that are reasonable and prudent;

• e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to the auditor

• In so far as the Trustees are aware:

• e there is no relevant audit information of which the charitable company’s auditor is unaware;

• e they have taken all steps required to ensure that they are 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 charity’s website. Legislation in the United Kingdom governing

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the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Recruitment and Training of Trustees

Recruitment of Trustees is carried out through nominations from within the Trustee Board and through open recruitment. In order to assess their personal competence and independence, a skills audit is conducted to assess suitability for any vacancies on the Board.

Detailed role profiles and codes of conduct are set out in the Trustee Information/Induction Pack and appointments are based on the results of the skills audit and an assessment process followed by a vote of the existing Trustees. New Trustees are given the last three years’ Annual Report and Accounts and are encouraged to read the Charity Commission's document “The Hallmarks of an Effective Charity’.

Remuneration of senior staff

Remuneration of the Chief Executive is set by the Trustees and benchmarked using the ACEVO pay review and similar roles in other medium sized charities. The same benchmarks are used to set Senior Management pay. No employee is paid more than £60,000 and employees receive no employee benefits other than their pay and pensions.

Senior Management

Responsibility for day-to-day operations and the leadership of the professional and volunteer team is delegated to the Senior Management Team. The Senior Management Team is responsible for all day-to-day decisions affecting the charity. Decisions of a strategic or directional nature, including the employment of the senior staff, remain the responsibility of the CEO & Trustees.

The Trustees keep up to date with charity regulation through reports from the Senior Management Team which is presented as part of the main agenda in Trustees’ meetings. Trustees attend relevant training and are expected to share knowledge and best practice at these meetings.

The charity has no subsidiaries and there were no related party transactions during the year. The Trustees give their time voluntarily and receive no benefits from the charity.

The work of The Children’s Literacy Charity is carried out by 38 individuals, comprising 32 paid staff and 6 volunteers.

Auditors

Begbies Accountants have indicated their willingness to continue in office and are deemed to be reappointed in accordance with section 487(2) of the Companies Act 2006.

Preparation of the accounts

The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102) “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 — Charity SORP (FRS102) Revised) the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applied from 1 January 2019. The charitable company is a Public Benefit Entity as defined by FRS 102.

Public Benefit

The trustees have had regard to the Charity Commission's guidance on public benefit and are satisfied that the company meets the public benefit requirement.

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Future plans and goals 2023/24

Strategic Aims

Education: To continue to deliver highly effective programmes in closing the literacy gap for the most disadvantaged children in areas of deprivation, achieving an affordable intervention without compromising on quality while building strong relationships with new and existing school partners.

Organisation: To ensure we have a sound, stable infrastructure with the capacity, skills and flexibility to support growth and the goal of reaching more disadvantaged children where the need is greatest

Fundraising: To develop income streams, retaining existing support and growing unrestricted income and income from corporates, with a particular focus on significant, multi-year grants Governance: To maximise trustee engagement in support of education and fundraising initiatives and charitable oversight.

Education

For 23/24 we aim to consolidate the work to date on Literacy Lab and Reading Lab and, with strong funding support, expand the Reading Lab programme alongside growing our Reader Leader programme. Specific targets include:

• e Deliver 189 Expert Literacy Lab pupil places through 14 partner schools in disadvantaged communities.

• e Deliver 1:3 catch-up Reading Labs, reaching 180 children in six schools in disadvantaged areas

• e increase Reader Leader delivery to more schools and develop the programme further

• e Expand our Parental Engagement programme working closely with partner schools e Continue to seek opportunities to expand to new geographic areas and work with new partners

• e Ensure that our educational delivery is of the highest quality through regular review and quality control of delivery through evaluation of pupil progress.

• e Support tutors by providing ongoing professional development opportunities e Seek opportunities to develop partnerships with like-minded organisations and delivery partners such as the West London Zone.

Income generation and Fundraising

• e Raise an overall income of £673,650. This will be achieved by raising £523,000 through fundraising, and securing £150,650 from school contributions and training provision.

• e Seek to develop significant, multi year support from larger Foundations and Corporates to allow the charity to plan ahead more effectively

• e Provide excellent account management to existing trusts and foundation donors, while increasing levels of support through effective and appropriate funding applications.

• e Increase unrestricted corporate income through a supportive relationship management approach for new and existing corporate partnerships and evaluate opportunities for incorporating volunteering

• e Develop our community fundraising offer and increase our digital reach. e¢ Manage our relationships with existing funders and supporters through regular communication, reporting and contact.

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Organisation

• e Continue to evolve the new website, developing more tailored content for parents and growing communications through social media channels

• e Build on the successful launch of our first Newsletter to produce a termly Newsletter for schools and supporters

• e Evolve how we tell our story through compelling and engaging content as well as relevant supporting evidence for the need for our work

• e Evidence our impact through the capture of quantitative and qualitative data of pupil progress.

• e Ensure that robust safeguarding policies and procedures are in place/adhered to. e Maintain facilities and infrastructure to meet organisational needs.

Governance

• e Facilitate strong trustee engagement through regular quarterly meetings. e Ensure trustees are fully informed and risks are recorded and reviewed regularly. e Ensure the charity is meeting its legal obligations through the development and submission of annual accounts in a timely fashion.

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Jeffrey Defries, Chairman of Trustees

Date: |3 | a(r4

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF The Children’s Literacy Charity

Opinion

We have audited the financial statements of The Children’s Literacy Charity (the “Charity”) for the year ended 31% August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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: e give a true and fair view of the state of the Charity's affairs as at 31% August 2023 and of its income and expenditure for the year then ended;

• e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• e have been prepared in accordance with the requirements of the Companies Act 2006.

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 trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. 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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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whetherthe other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

• e the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• e the Trustees’ Report (incorporating the directors’ report) have 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 Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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

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

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

• e we have not obtained all the information and explanations necessary for the purposes of our audit.

• e the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of the trustees

The trustees 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 they 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 Charity or to cease operations, or have no realistic alternative but to do so.

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Auditor’s responsibilities for the audit of the financial statements

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.

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

• Agreement of the financial statement disclosures to underlying supporting documentation;

• Enquiries of management and the trustees as to their identification of any noncompliance with laws or regulations, or any actual or potential claims;

• Review of minutes of Board meetings throughout the period;

• incorporating unpredictability into the nature, timing and/or extent of testing.

• Evaluation of the selection and application of the accounting policies chosen by the charity.

• Inrelation to the risk of management override of internal controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and

• Weassessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

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Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’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 Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Katherine Dee (Senior Statutory Auditor) For and on behalf of Begbies Chartered Accountants, Statutory Auditor 9 Bonhill Street London EC2A 4DJ

Date: 2o| fas

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The Children’s Literacy Charity

Statement of Financial Activities Year to 31% August 2023 Including Income and Expenditure Account

		Unrestricted	Restricted	Total 2023	Total 2022
	Note	£	£	£	£
Income and endowments from:
Donations & Legacies	2a	185,950	13,000	198,950	127,793
Charitable activities	2b	167,300	261,627	428,927	342,780
Trading activities - sponsorship		0	0	0	10,000
Investments (bank Interest)		269	0	269	34
Total Income		353,519	274,627	628,146	480,607
Expenditure on:	4865
Raising Funds		100,850	0	100,850	86,457
Charitable Activities		162,418	274,627	437,045	381,954
Total Expenditure		263,268	274,627	537,895	468,410
Net Income/(Expenditure)		90,251	0	90,251	12,197
Net Movement in funds		90,251	0	90,251	12,197
Reconciliation in Funds
Total Funds brought Forward		314,619	0	314,619	302,423
TotalFundscarriedForward	10&11	404,870	0	404,870	314,619

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

There were no recognised gains and losses in the period other than those shown above.

All of the above results are derived from continuing activities.

The notes 1-15 form a part of these financial statements.

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The Children’s Literacy Charity Balance Sheet

As at 315 August 2023

		Total 2023	Total 2022
	Note	£	£
Fixed Assets
Tangible assets	6	1,834	2,913
		1,834	2,913
Current Assets
Debtors	L	8,544	14,109
Cash at Bank	8	512,094	399,937
		520,638	414,046
Liabilities
Creditors: Amounts falling due within one year	9	(117,602)	(102,340)
Net CurrentAssets		403,036	311,706
Net Assets		404,870	314,619
Funds of the Charity
Restricted		0	0
General	10	224,870	194,619
Designated	10	180,000	120,000
TotalFunds		404,870	314,619

The notes 1-15 form part of these financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved, and authorised for distribution, by the board on and signed on their behalf by:

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Jeffrey Defries, Chairman of Trustees

Date: \% [u {24

Registered Company Number 6251103, Charity Number 1124257

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The Children’s Literacy Charity Statement of Cashflows Year to 31% August 2023

	Note	Total 2023	Total 2022
		£	£
Cashflows from operating activities:
Net Cash provided by (used in) operating activities	8a	113,129	(32,133)
Cashflows from investing activities:
(Purchase)/sale oftangible Fixed Assets		(1,240)	0
Interestfrom investments		269	34
Netcash provided by investing activities		112,158	(32,098)
Change in cash and cash equivalents in the reporting period		112,158	(32,098)
Cash and cash equivalents atthe beginning ofthe reporting period		399,936	432,035
Cash and cash equivalents atthe end ofthe reporting period	8b	512,094	399,936
Reconciliation of net debt
Thecharityhadnonetdebtinthecurrentorprioryear.

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Notes to the financial statements

Year to 31% August 2023

1. Accounting Policies

Basis of Accounting

The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102) “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 — Charity SORP (FRS102) Revised) the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applied from 1 January 2019. The charitable company is a Public Benefit Entity as defined by FRS 102.

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

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the next 12 months. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

The reserves comprise the Designated Fund of £120,000 to cover three months of running costs, another £60,000 is allocated to invest in capacity building, and a further £224,870 is made up of general reserves. Of the general reserves £1,834 are invested in fixed assets leaving £223,036 of free reserves.

Funds Structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or which have been raised by the charity for particular purposes.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the charity's objects.

Designated funds are unrestricted funds set aside by the trustees for particular purposes. The funds set aside for this purpose are detailed in the reserves policy.

Incoming Resources

Income is recognised when the charitable company is legally entitied 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 charitable company 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.

Donations in kind are recognised at an estimate of their fair value. Donated books are included at wholesale value and donated professional services at the usual rates charged. No value is placed on general volunteer or trustee time donated.

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Grants are recognised at the point when the charity is notified of the grant. Grants shown as donations are only deferred if they relate to a specific future time period as identified by the donor, and the charity is not entitled to spend the funds before this period, or the charity is not entitled to the funds without first meeting criteria which are yet to be met at the year end.

Grants are recognised as restricted if they are donated for a purpose more restrictive than the ongoing operations of the charity. Grants are recognised as unrestricted if the donor does not state and restriction on the use of the grant.

Grants that are received for the general operation of the charity, rather than on the basis of a contract or for a specific level of service, are treated as donations. Were a grant is received with a specified level of service, it would be shown as income from charitable activities and would be deferred to the extent that the charity has yet to fulfil the service level obligations.

School fees and training income are accounted for when they are receivable by the charity to the extent that they are expected to be recoverable.

Income from fundraising activities which are in essence donations, such as sponsorships from marathons and other challenge events are shown in donations and recognised in the year the events took place.

Resources Expended

Expenditure is accounted for in the period to which it relates. The majority of costs are directly attributable to the main activity of the charity which is to teach children with literacy difficulties on a one-to-one basis to help them acquire basic literacy skills to enable them to access the mainstream curriculum in the classroom.

Support costs represent general overheads which cannot be attributed directly to specific activities in furtherance of the charitable object and accordingly have been allocated across activities on the basis of the percentage of staff time or other appropriate cost driver. Governance costs are included in support costs and represent those costs attributable to the management of the charity's assets, organisational administration and compliance with constitutional and statutory requirements.

The costs of generating funds are those costs of seeking potential funders and applying for funding together with any indirect costs incurred in carrying out this work.

Tangible Fixed Assets

All assets costing more than £400 are capitalised and included at cost. Depreciation is recognised so as to write off the cost of the valuation of assets less their residual values over their useful lives of 3 years or 5 years depending on the estimation of their useful life.

The charity does not hold any freehold land or buildings.

Impairment of Fixed assets

At the end of each year the charity reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication of those assets being impaired or damaged. If this is the case the recoverable amount of the asset is estimated in order to determine the extent of the impairment.

Cash and Cash Equivalents

Cash and cash equivalents include cash in hand and deposits held on call with banks.

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Financial Instruments

The charitable company has elevated 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 charitable company's balance sheet when the charitable company 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 include debtors, cash and bank balances, are measured initially at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price.

Trade creditors are obligations to pay for goods and 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.

De-recognition of financial liabilities

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

Operating Leases

Payments made under operating leases are charged to the Statement of Financial Activities as incurred.

Pensions

The charity enrols eligible workers in workplace pension schemes with NEST. All other employees havea right to join the scheme should they so wish, with the Children’s Literacy Charity paying in to the contributions after 6 months of employment. All the pensions are defined contribution bases and as such the assets and liabilities are held separately to those of the charity. Contributions are recorded by the charity as they fall due.

Registered Office

The Charity’s registered office is Conrad Court, Cary Avenue, London SE16 7EJ.

Government Grants

School fees are received directly from the relevant schools and are not government grants.

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Notes to the financial statements (Continued) For the year ending 31st August 2023

2a. Donations and Legacies

2a. Donations and Legacies
	Notes	Unrestricted	Restricted	Total 2023
		£	£	£
Donations		42,932	6,000	48,932
Trusts/Foundations/Corporates	3	134,941	7,000	141,941
Sponsorships		8,077	0	8,077
		185,950	13,000	198,950
	Notes	Unrestricted	Restricted	Total 2022
		£	=	E
Donations		27,141	0	27,141
Legacies		49,927	0	49,927
Trusts/Foundations/Corporates	3	32,969	11,400	44,369
Sponsorships		6,356	0	6,356
		116,393	11,400	127,793
2b. Charitable Activities	Notes	Unrestricted	Restricted	Total 2023
		£	£	£
Trusts/Foundations/Corporates	3	0	261,627	261,627
Fees from schools		157,200	0	157,200
Training activities		10,100	0	10,100
		167,300	261,627	428,927
	Notes	Unrestricted	Restricted	Total 2022
		e	£	x
Trusts/Foundations/Corporates	3	0	218,922	218,922
Fees from schools/parents		118,267	0	118,267
Training activities and conferences		5,591	0	5,591
		123,858	218,922	342,780

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3. Income from Trusts, Foundations & Corporates

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|2023|Unrestricted|Restricted|Total|2022| |Within|Donations|(note|2a)|£|£|£|£|£;|£| |Informa|4,838|0|4,838|4,979|0|4,979| |SE|Franklin|Charity|Trust|0|4,000|4,000|0|8,000|8,000| |Girdlers’|Company|Charitable|Trust|0|0|0|4,547|0|4,547| |SELCHP|Ltd|0|3,000|3,000|0|3,400|3,400| |Wellington|Management|UK|Foundation|15,000|0|15,000|0|0|0| |Squarepoint|Foundation|41,349|0|41,349|0|0|0| |Copyright|Licensing|Community|Fund|20,000|0|20,000|0|0|0| |Recorra|5,810|0|5,810|0|0|0| |Mrs|Wordsmith|-|donation|in|kind|5,500|0|5,500|0|0|0| |CVC|Advisers|Limited|8,348|0|8,348|0|0|0| |Pulse|-|donation|in|kind|14,556|0|14,556|0|0|0| |Other grants £3000|and|under|19,539|0|19,539|23,443|0|23,443| |Total|Grants|- Donations|134,941|7,000|141,941|32,969|11,400|44,369| |Within|Charitable|Activities|(note|2b)|£|£|£|£|£|£| |Deferred|income|brought|forward|0|86,319|86,319|0|124,785|124,785| |Received|during|the year| |The|Zochonis|Charitable|Trust|0|15,000|15,000|0|25,000|25,000| |Girdiers’|Company|Charitable|Trust|(inc.|deferred)|0|8,000|8,000|0|8,000|8,000| |St|Giles &|St|George|0|10,000|10,000|0|0|0| |The|Swire|Charitable|Trust|(inc.|deferred)|0|15,000|15,000|0|0|0| |Garfield Weston|Foundation|(inc.|deferred)|0|25,000|25,000|0|25,000|25,000| |Wellington|Management|UK|Foundation|0|35,000|35,000|0|35,000|35,000| |Charterhouse|in|Southwark|0|0|0|0|5,000|5,000| |Masonic|Charitable|Foundation|(inc.|deferred)|0|21,456|21,456|0|21,456|21,456| |Barings|LLC|(inc.|deferred)|0|50,000|50,000|0|50,000|50,000| |Unum|0|0|0|0|5,000|5,000| |Banham|Foundation|0|5,291|5,291|0|0|0| |Walcot|Foundation|0|21,630|21,630|0|0|0| |The|Julia|and|Hans|Rausing|Trust|0|20,000|20,000|0|0|0| |Sarah's|Trust|0|10,000|10,000|0|0|0| |Findlay|Park|0|12,000|12,000|0|0|0| |Tallow|Chandlers’|Company|(inc.|deferred)|0|15,000|15,000|0|0|0| |Other|grants £3000|and|under|0|5,000|5,000|0|6,000|6,000| |Deferred|Income|carried|forward|(See|note|9b)|0|(93,069)|(93,069)|0|(86,319)|(86,319)| |Total|Grants|- Charitable|Activities|0|261,627|261,627|0|218,922|218,922|

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4a. Summary Expenditure

The Children's Literacy Charity has one main activity - teaching children to read and write. This involves literacy tuition and training volunteers, together with the support costs associated with this activity.

	Raising	Charitable	Charitable			Raising	Charitable
	Funds’	Activities		Total 2023		Funds	Activities	Total 2022
	E		E		£	£	£	£
Direct Costs	91,894	361,181			453,075	75,646	303,738	379,385
Support Cost	8,956	75,864			84,820	10,810	78,215	89,026
Total	100,850	437,045			537,895	86,457	381,954	468,410
4b. Analysis ofSupport	Support Costs
	Raising		Charitable			Raising	Charitable
Support Costs		Funds	Activities		Total 2023	Funds’	Activities	Total 2022
		£		£	£	£	£	£
Staff		2,966	25,123		28,089	3,327	24,074	27,401
Office/IT		1,826	15,471		17,298	1,997	14,452	16,450
Finance		20		165	185	23	164	187
HR/Admin		295		2,501	2,796	437	3,159	3,595
Governance		3,792	32,120		35,911	4,244	30,709	34,954
Communications		57		484	541	782	5,657	6,439
Total		8,956	75,864		84,820	10,810	78,215	89,026

4b. Analysis of Support Costs

Allocated based on the proportion of direct charitable activity and fundraising staff time

Total Expenditure for the year includes the following:

	Total 2023	=Total 2022
	£	E
Depreciation (see Note 6)	2,319	3,384
Premises and Office costs	17,298	16,450
Auditors remuneration	4,440	4,440
5. StaffCosts
	Total 2023 =Total 2022
	£	E
Salaries	397,437	355,879
Social Security Costs	18,080	16,642
Pension Costs	5,691	5,939
Redundancy costs	1,300	10,000
Total	422,508	388,460

5. Staff Costs

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Staff Numbers

The average number of staff employed during the year was 29, many of whom are part time. In 2022 the average number of staff was 27.

Key Management Staff

Amounts paid to key management staff during the year was £147,670, of which £120,670 was paid through payroll and £27,000 was paid to freelance staff (£150,087 in 2022 of which £125,587 was paid through payroll and £24,500 was paid to freelance staff). This represents the salary of the CEO, Education Lead, Head of Fundraising and Head of Finance. No employee was paid more than £60,000 in 2022 or 2023.

Redundancy Payment

Redundancy payments are recognised in the period in which the redundancy is communicated to the employee. There were no outstanding redundancy payments at the year end.

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|||||||| |---|---|---|---|---|---|---| |6.|Fixed|Assets| |Office|&|General|Fixtures| |Equipment|&|Fittings|Total| |Cost:|£|£|~| |At|18|September 2022|24,671|428|25,099| |Additions|1,240|0|1,240| |Disposal|(850)|0|(850)| |As|at 31% August|2023|25,062|428|25,490| |Depreciation:| |At|1%|September|2022|21,759|428|22,187| |Disposal|(850)|0|(850)| |Charge|for|the|period|2,319|0|2,319| |As|at 31% August|2023|23,228|428|23,656| |Net|Book|Value| |At|15|September|2022|2,913|0|2,913| |As|at|315* August|2023|1,834|0|1,834|

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7. Debtors & Prepayments

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||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |£|E| |Tax|reclaimed|on|gift|aid|donations|2,307|2,244| |Debtors|control|account|4,093|3,280| |Other|debtors|881|5,033| |Prepayments|1,263|3,552| |Total|8,544|14,109|

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8a. Reconciliation of net income/(expenditure) to net cashflow from operating activities

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|||||||||| |---|---|---|---|---|---|---|---|---| |Total|2023|Total|2022| |£|£| |Net|income|for the|reporting|period|(as|per SOFA)|90,251|12,197| |Adjustments|for:| |Depreciation|2,319|3,384| |Interest|(269)|(34)| |(Increase)/Decrease|in|debtors|5,565|(9,998)| |Increase/(Decrease)|in|creditors|15,263|(37,681)| |Net cash|used|by|operating|activities|113,129|(32,133)|

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8b. Analysis of cash and cash equivalents

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||||| |---|---|---|---| |Total|2023|Total|2022| |E|£| |Current|Account|471,652|359,763| |Deposit Accounts|40,223|39,954| |Petty Cash|219|219| |512,094|399,937|

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9a. Creditors

9a. Creditors
	Total 2023	Total 2022
	£	£
Taxand social security	4,429	4,933
Accruals	4,440	4,440
Deferred income (see note 9b)	103,869	89,919
Pension	948	1,199
Other creditors	3,915	1,848
	117,602	102,340
9b. Deferred Income
	Total 2023	Total 2022
	£	£
BroughtForward	89,919	128,385
Transferred to income during theyear
Grants	(89,919)	(83,385)
Schools fees paid in advance	10,800	3,600
Grants deferred in year	93,069	41,319
Carried Forward	103,869	89,919
Deferred grants are broken down as follows:
	Total 2023	Total 2022
Charterhouse in Southwark	0	5,000
Houlihan Lokey	0	45,000
Masonic Charitable Foundation	7,152	FAlS2Z
Barings LLC	29,167	29,167
Girdlers' Company Charitable Trust	8,000	0
The Swire Charitable Trust	8,750	0
Tallow Chandlers’ Company	15,000	0
Garfield Weston Foundation	25,000	0
TotalGrantsReceivedinadvance	93,069	86,319

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10. Movement in Funds

	Balance at 01.09.22	, Incoming	: Outgoing	Transfers	Balance at 31.08.23
Unrestricted Funds	£	£	£	E	£
Designated Funds:
- Emergency reserve	120,000	0	0	0	120,000
- Capacity building	0	0	0	60,000	60,000
	120,000	0	0	60,000	480,000
General Funds	194,619	353,519	(263,268)	(60,000)	224,870
Total Unrestricted Funds	314,619	353,519	(263,268)	0	404,870
Restricted Funds
Education	0	274,627	(274,627)	0	0
Total Restricted Funds	0	274,627	(274,627)	0	0
Total Funds	314,619 ————————	628,146	(537,895)	0	404,870
2022 Comparative
	Balance at 01.09.21	: Incoming	: Outgoing	Transfers	Balance at 31.08.22
Unrestricted Funds	£	E	2	£	£
Designated Fund	120,000	0	0	0	120,000
General Funds	182,423	250,285	(238,088)		194,619
Total Unrestricted Funds	302,423	250,285	(238,088)	0	314,619
Restricted Funds
Education	0	230,322	(230,322)	0	0
Totai Restricted Funds	0	230,322	(230,322)	0	0
TotalFunds	302,423	480,607	(468,410)	0	314,619

Designated funds

The designated fund is set aside in the event that the charity has to cease operations. It covers roughly 3 months salary and other costs, which is the assumed time that would be needed to close the charity.

Restricted Funds

Restricted funds - Education

These represent funds that have been given by donors at the year end for specific education projects that have not been spent at year end or deferred for the next year.

Please refer to the Trustees' report for further explanation of all the above funds.

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11. Net Assets by Fund

	General	Designated	Restricted	Total 2023
	£	£	£	£
Fixed Assets	1,834			1,834
Current Assets	307,569	120,000	93,069	520,638
Current Liabilities	(24,533)		(93,069)	(117,602)
	284,870	120,000	0	404,870
2022 Comparative	General	Designated	Restricted	Total 2022
	E	£	£	e
Fixed Assets	2,913			2,913
CurrentAssets	207,727	120,000	86,319	414,046
Current Liabilities	(16,021)		(86,319)	(102,340)
	194,619	120,000	0	314,619

12. Future Commitments

As at 31% August 2023 The Children's Literacy Charity had no commitments under any operating leases.

The office is occupied under licence terminable at 30 days’ notice.

1. Transactions with trustees and related party transactions Donations from trustees totalled £300 (2022: £2,775).

No trustee received any remuneration in the year in 2023 or 2022. No trustee was paid any travel expenses in the year in 2023 or 2022. The trustees are covered under the general office insurance policy. There were no other transactions with related parties requiring disclosure in 2023 or 2022.

14. Legal Structure

The charitable company's legal structure is that of a company limited by guarantee. In the event of the company winding up, each member is liable to contribute to any deficit to a maximum of £10 per member.

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15. SOFA Comparatives

	Unrestricted	Restricted	Total 2022	Total 2021
	£	£	£	£
Income and endowments from:
Donations & Legacies	116,393	11,400	127,793	89,813
Charitable activities	123,858	218,922	342,780	322,164
Trading activities - sponsorship	10,000	0	10,000	8)
Other Income —CJRS grant	0	0	0	20,397
Investments (bank Interest)	34	0	34	17
Total Income	250,285	230,322	480,607	432,391
Expenditure on:
Raising Funds	86,457	0	86,457	57,102
Charitable Activities	151,632	230,322	381,954	314,689
Total Expenditure	238,088	230,322	468,410	371,791
Net Income/(Expenditure)	12,197	0	12,197	60,600
Reconciliation in Funds
NetMovement in funds	12,197	0	12,197	60,600
Total Funds brought Forward	302,423	0	302,423	241,823
TotalFundscarriedForward	314,619	0	314,619	302,423

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