Registered number: 06591195 Charity number: 1125471
FOUR CORNERS BOOKS
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
FOUR CORNERS BOOKS
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2022
| Trustees | Elinor Sainsbury |
|---|---|
| Alessio Antoniolli | |
| Ines Basille | |
| Lindsay Evans | |
| Francesca Vinter | |
| Mireille Fauchon | |
| Company registered number 06591195 Charity registered number 1125471 Registered office First Floor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Bankers The Co-operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP Solicitors Portrait Solicitors 21 Whitefriars Street London EC4Y 8JJ |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2022
The Trustees present their annual report together with the financial statements of the company for the 1 June 2021 to 31 May 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Structure, governance and management
a. Constitution
Four Corners Books was incorporated and registered as a company limited by guarantee, company registration number 6591195, on 13 May 2008, and was registered with the Charity Commission on 12 August 2008, registration number 1125471. It is governed by its Memorandum and Articles of Association
b. Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
c. Policies adopted for the induction and training of Trustees
The charity's solicitors send each new Trustee a copy of the Charity Commission Guidelines for Trustees, highlighting Trustees' responsibilities. In addition, the Chair of the Trustees has experience as a trustee on the board of another charity.
d. Organisational structure and decision making
The Trustees formally meet as a board three times a year. Informal discussions between Chair of Trustees and other board members occurred regularly.
Day to day operations of the charity are directed by the Chair of the Trustees who is responsible for the implementation of policies and strategies as determined by the Board of Trustees.
e. Related party relationships
During the year Four Corners Books was charged £3,333 (2021: £10,000) from Raven Row for rent of the premises. Elinor Sainsbury, a Trustee, is the wife to Alex Sainsbury, a Trustee of Raven Row.
During the year Four Corners Books received donations of £60,000 (2021: £Nil) from Elinor Sainsbury.
During the year Four Corners Books received donations of £117,500 (2021: £100,000) from Glass House Trust of which Elinor Sainsbury is a Trustee.
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FOUR CORNERS BOOKS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022
Structure, governance and management (continued)
f. Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to manage exposure to the major risks.
g. Remuneration of key management personnel
Pay and remuneration in general is reviewed annually by the Board of Trustees. Annual appraisals and reviews are carried out by the Chair of Trustees with all full-time members of staff.
Achievements and performance
a. Policies and objectives
The Objects of Four Corners Books as recorded in its Memorandum of Association are to advance, for the public benefit, education in the visual arts. The primary means through which this is achieved is through the publication and dissemination of affordable books about art.
b. Activities for achieving objectives
The charity works with artists and authors to produce high quality books which commercial publishers would be unable to produce, and to make these available at affordable prices. The Trustees believe that by using the existing bookshop network, the books can be distributed very widely, to reach people who might not necessarily be able to visit exhibitions. In addition, the charity offers its books free of charge to libraries who wish to have the books in their collections.
c. Public benefit
In setting the charity's policy and planning its activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. In particular, Four Corners Books focuses on publishing projects not suited to the commercial or institutional sectors, as well as making its books available at affordable prices through the retail network, and free through the library system.
Achievements and performance
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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FOUR CORNERS BOOKS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022
b. Review of activities
Four Corners Books published two new books: Women For Peace, Banners From Greenham Common by Charlotte Dew in August 2021 and an illustrated edition of Treasure Island created by artist Shiraz Bayjoo, in May 2022. Both books were significant publications for Four Corners Books and succeeded in reaching new audiences and attracting interest from a wide range of individuals and institutions across the country.
Alongside publishing new books, we reprinted three of our more popular titles: Beauty Is In The Street: A Visual Record of May 68; Come Alive, The Spirited Art of Sister Corita; and UFO Drawings From The National Archives.
The publication of Women For Peace was timed to coincide with the 40th anniversary of the demonstrations at Greenham Common and the book received widespread press coverage and the author was invited to participate in radio interviews (on Radio 4’s Women’s Hour and Soho Radio’s Bureau of Lost Culture).
In addition to these activities, in the autumn of 2021, we collaborated with the National Archives for a talk by Charlotte Dew on Greenham and its banners, which was live-streamed to the National Archive's audience. We also worked with the People's History Museum in Manchester and the Peace Museum in Bradford on a panel event about Greenham banners. This was hosted in person by the People's History Museum and live streamed to a wider audience.
To mark the publication of Treasure Island, we worked together with the Whitechapel Gallery on an event with Shiraz Bayjoo in conversation with writer and curator Ekow Eshun; this was a lively event with more than 60 people attending. Shiraz Bayjoo's artwork was also shown in a window display we organised at Tenderbooks, London.
Four Corners Books continued to publish web essays expanding outwards from the themes raised in the new books and other areas of little-known, yet significant, visual culture. Authors included Françoise Vergès, S. I. Martin, Stephen Coates, and Charlotte Dew.
Four Corners Books continued to use a third party, ArtData to handle most of its distribution, and books remained at prices lower than the cost of their production. Four Corners cotinued to work on increasing direct sales from its website, social media, online booksellers and invested in marketing to support this activity alongside rekindling relationships with book retailers who had temporarily closed or reduced activity during the pandemic.
In May 2022, after teaching publishing-related workshops in previous years at Central Saint Martins, Four Corners Books was invited to conduct a series of 1:1 “production surgeries” for students on the MA Graphic Communication Design at CSM. These surgeries were well received by students and feedback was positive. We also continued to provide online book surgeries providing feedback and information to people working on book projects.
This year saw a gradual recovery of book sales following the pandemic and sales met and extended beyond prepandemic levels.
In March 2022, following popularity in previous years, we made a call out on social media to offer free books to public and libraries which was very well received and was met with many requests for books from libraries.
In July 2021, Four Corners Books made a financial contribution of £1000 to arts mentoring charity Arts Emergency. Elinor Jansz continued to mentor the mentee she had been matched with until the period of mentorship ended in 2022.
During upon our experience of hybrid working during the pandemic, we moved to fully working from home and
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(A company limited by guarantee)
FOUR CORNERS BOOKS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022
stopped renting an office space.
Financial Review
a. Reserves policy
The Trustees consider that free reserves should equal the costs of running the charity for the next 3 months, which is £19,000. The free reserves total is £137,375 (2021: £139,649).
Total funds are £137,783 (2021: £140,148), which are unrestricted. There are no designated funds. The free reserves which amounts to the unrestricted funds less fixed assets is equal to £137,375 (2021: £139,649). The free reserves are in excess of the policy because this figure includes stock of £112,837 (2021: £109,733).
The Trustees view that it is acceptable for available funds to exceed this amount [of 3 month's running costs] if the excess amount is in the form of unsold stock, as producing books on an as-needed basis would be costprohibitive, and the cost advantage of having two or three-year's supply of books is considerable. Four Corners Books regularly monitors the stock levels, and consults with its distributors, to ensure that an appropriate level of such stock is maintained.
Large costs remain predictable long in advance - most of the costs in book production come at the end of the process, during the reprography and printing stage, and the charity does not commit to this stage until it has cash on hand for those invoices. In addition, Trustees regularly monitor available funds and income from donations and book sales, to ensure that the charity is able to maintain its running costs.
b. Principal funding
Principal funding comes in the form of donations £177,500 (2021: £100,000). Some additional funds are gathered through the sales of books £67,404 (2021: £44,603).
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FOUR CORNeRS BOOKS IA company I1MIed by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2022 Statement 01 TNstees' resptsnsibilities The Tru8tee$ (who are al80 Ihe directors ol Ihe ¢ompony lor Ihe puOSe5 01 company lawl are responsible for preparing the Tru$iee5' report and Ihe finanaal statements Mi accdnCe wilh 8ppli¢8ble law and United Kingdom Accounting Slandards (United lQ"ngdom Generalty Accepted Ac¢ounbnp Pra¢b¢el. Company law fequiies Ihe Trustee5 to wepare finanual statemenls lor each finar¢ual year. Under company law, the Trustees mts$t nol approve the fin•npal slalements unless Ihty afe $ab$fied that Ihey give a true and lair view ol the state of altsir5 01 Ihe comp&Thy •nd of ts CoMIng resources and 8pplica"on of resour¢e$, induding its income and expendrture. lor thal period. In prep•ring these fingnaal statements, lh¢ Trustees A rewlred to.. Select $urtable aecountsng Witles and then apply Ihem consistenuy,. observe the methods and printipS ofthe Charities SORP IFRS 1021; make judgments anl ¥¢¢ouAb"ng estimates thal are rÈason&ble afid prudenl.. state appliuble UK ActIng Slandard$ IFRS 1021 have been lollowed. 5ubjed to any malerlal d¢partures Jis¢lo$ed and exaed in the fin•noJl 6talements'. prepare Ihe financial staternents on Ihe gtyng ¢on¢em bows unless rt is inapprow¢•te to presume that the ¢omp•ny wll continue busineso. The TN$tee$ •re re¥¢)nsible lor keePg 8de(wale ac¢wnb"n9 re¢ofd¥ that are Suffithent ¢0 thow ind explaln th• companls tsan8actson8 and thsclose %ilh re•soA•bte •ccuracy al any ts.me Ihe financial po8its.on of the ¢ompaNy and enable Ihem to enwie Ihat Ihe finantial s18l¢m¢nts ¢omply the Companies Acl 2006. They are al$c iesponsible lor saleguarduig the 1$5e15 of the company gnd her¢e lor taltsnp re•8onable sieps for th? prevenbon and delection of fraud and olher irregularits". •proved by ol board ol ond $iwed on ththr behall by.. Tw8tees on .02.2013 Elinor Salnsbury Trustee Page 6
FOUR CORNERS BOOKS (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2022
Independent Examiner's Report to the Trustees of Four Corners Books ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 May 2022.
Responsibilities and Basis of Report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 6 February 2023 Kerry Brown FCA
CROWE U.K. LLP Black Country House Rounds Green Road Oldbury West Midlands B69 2DG
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FOUR CORNERS BOOKS
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2022
| Note Income from: Donations and legacies 3 Other trading activities 4 Total income Expenditure on: Charitable activities Other expenditure 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 177,500 67,404 244,904 246,169 1,000 247,169 (2,265) 140,048 (2,265) 137,783 |
Total funds 2022 £ 177,500 67,404 244,904 246,169 1,000 247,169 (2,265) 140,048 (2,265) 137,783 |
Total funds 2021 £ 100,000 44,603 144,603 199,395 2,000 201,395 (56,792) 196,840 (56,792) 140,048 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 19 form part of these financial statements.
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FOUR CORNERS BOOKS (A company limited by guarantee) REGISTERED NUMBER: 06591195
BALANCE SHEET AS AT 31 MAY 2022
| Note Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
112,837 14,828 22,209 149,874 (12,499) |
2022 £ 408 408 137,375 137,783 137,783 137,783 - 137,783 137,783 |
109,733 8,784 27,055 145,572 (5,923) |
2021 £ 399 |
|---|---|---|---|---|
| 399 139,649 |
||||
| 140,048 | ||||
| 140,048 | ||||
| 140,048 | ||||
| - 140,048 |
||||
| 140,048 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on _______ and signed on their behalf by:
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FOUR CORNERS BOOKS IA Company limited by guarantee) REGISTEREO NUMBER-. 06591195 BALANCE SHEET ICONTINUEDI AS AT 31 MAY 2022 a&. o2.2Q 3 Elinor Sainsbury Trustee The notes on page5 1110 19 form part ofthese fMan¢id statements. Page1D
(A company limited by guarantee)
FOUR CORNERS BOOKS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
1. General information
Four Corners Books is a company limited by guarantee in England and Wales, whose registered office is 56 Artillery Lane, London, E1 7LS. The companies registered number is 06591195. The members of the company are the Trustees named on page 1. In the event of the Four Corners Books being wound up, the liability in respect of the guarantee is limited to £10 per member of the Four Corners Books.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Four Corners Books meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The charity has cash resources and has no requirement for external funding. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. They contunue to believe that the going concern basis of accounting is appropriate in preparing the annual financial statements.
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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(A company limited by guarantee)
FOUR CORNERS BOOKS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
- Fixtures and fittings 25% reducing balance
2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.7 Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at transaction price.
Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
There are no complex financial instruments.
2.8 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Donations | 177,500 | 177,500 | 100,000 |
4. Income in furtherance of the Charity's objects
| Unrestricted funds 2022 £ Book sales 67,404 5. Other expenditure Unrestricted funds 2022 £ Donations 1,000 6. Analysis of expenditure by activities Activities undertaken directly 2022 £ Book publishing 224,232 |
Total funds 2022 Total funds 2021 £ £ 67,404 44,603 Total funds 2022 Total funds 2021 £ £ 1,000 2,000 Support costs 2022 Total funds 2022 £ £ 21,937 246,169 |
Total funds 2022 Total funds 2021 £ £ 67,404 44,603 Total funds 2022 Total funds 2021 £ £ 1,000 2,000 Support costs 2022 Total funds 2022 £ £ 21,937 246,169 |
|---|---|---|
| Total funds 2021 £ 2,000 |
||
| Total funds 2022 £ 246,169 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
6. Analysis of expenditure by activities (continued)
| Book publishing Analysis of direct costs Staff costs Opening book stock Printing and scanning Author, illustrator, editing and design fees License and copyright Delivery costs Commission PR for book release Marketing Closing book stock |
Activities undertaken directly 2021 £ 169,050 Book publishing 2022 £ 58,734 109,733 100,329 25,806 3,762 5,087 13,635 3,835 16,148 (112,837) 224,232 |
Support costs 2021 £ 30,345 Total funds 2022 £ 58,734 109,733 100,329 25,806 3,762 5,087 13,635 3,835 16,148 (112,837) 224,232 |
Total funds 2021 £ 199,395 Total funds 2021 £ 57,125 137,713 37,824 16,898 5,063 2,867 8,633 309 12,351 (109,733) 169,050 |
|---|---|---|---|
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(A company limited by guarantee)
FOUR CORNERS BOOKS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Insurance Sundry Computer costs Bank charges Telephone Rent Stationery Storage Accountancy Independent examiners fee |
Book publishing 2022 £ 136 3,567 - 1,899 36 838 3,333 52 5,336 4,240 2,500 21,937 |
Total funds 2022 £ 136 3,567 - 1,899 36 838 3,333 52 5,336 4,240 2,500 21,937 |
Total funds 2021 £ 4,386 3,227 46 2,407 10 876 10,000 136 4,638 2,219 2,400 |
|---|---|---|---|
| 30,345 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,500 ( 2021 - £2,400 ).
8. Staff costs
| Wages and salaries Social security costs Pension contributions |
2022 £ 53,854 2,187 2,693 58,734 |
2021 £ 52,502 1,998 2,625 |
|---|---|---|
| 57,125 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
8. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Adminstration staff | 1 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity are the Trustees and Administation staff. Total employee benefits of key management personnel were £58,735 (2021: £57,125).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 May 2022, no Trustee expenses have been incurred (2021 - £NIL) .
10. Intangible assets
| Cost At 1 June 2021 At 31 May 2022 Amortisation At 1 June 2021 At 31 May 2022 Net book value At 31 May 2022 At 31 May 2021 |
Website £ 16,800 |
|---|---|
| 16,800 | |
| 16,800 | |
| 16,800 | |
| - | |
| - |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
| 11. Tangible fixed assets Cost or valuation At 1 June 2021 Additions At 31 May 2022 Depreciation At 1 June 2021 Charge for the year At 31 May 2022 Net book value At 31 May 2022 At 31 May 2021 12. Stocks Finished goods and goods for resale 13. Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income |
2022 £ 112,837 2022 £ 14,147 - 681 14,828 |
Fixtures and fittings £ 4,264 145 |
|---|---|---|
| 4,409 | ||
| 3,865 136 |
||
| 4,001 | ||
| 408 | ||
| 399 | ||
| 2021 £ 109,733 2021 £ 7,598 575 611 8,784 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2022 £ 6,323 550 5,626 12,499 |
2021 £ 3,123 - 2,800 |
|---|---|---|
| 5,923 |
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 June 2021 £ 140,048 Balance at 1 June 2020 £ 196,840 |
Income £ 244,904 Income £ 144,603 |
Expenditure £ (247,169) Expenditure £ (201,395) |
Balance at 31 May 2022 £ 137,783 |
|---|---|---|---|---|
| Balance at 31 May 2021 £ 140,048 |
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(A company limited by guarantee)
FOUR CORNERS BOOKS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 408 Current assets 149,874 Creditors due within one year (12,499) Total 137,783 |
Total funds 2022 £ 408 149,874 (12,499) 137,783 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 399 145,572 (5,923) 140,048 |
Total funds 2021 £ 399 145,572 (5,923) 140,048 |
|---|---|---|
17. Related party transactions
During the year Four Corners Books was charged £3,333 (2021: £10,000) from Raven Row for rent of the premises. Elinor Sainsbury, a Trustee, is the wife to Alex Sainsbury, a Trustee of Raven Row.
During the year Four Corners Books received donations of £60,000 (2021: £Nil) from Elinor Sainsbury.
During the year Four Corners Books received donations of £117,500 (2021: £100,000) from Glass House Trust of which Elinor Sainsbury is a Trustee.
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