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 2023
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 2023
| 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 2023
The Trustees present their annual report together with the financial statements of the company for the 1 June 2022 to 31 May 2023. 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.
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FOUR CORNERS BOOKS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Structure, governance and management (continued)
e. Related party relationships
Four Corners Books no longer has an office at Raven Row and so was charged £Nil (2022: £3,333) for rent. Elinor Sainsbury, a Trustee, is the wife to Alex Sainsbury, a Trustee of Raven Row.
During the year Four Corners Books received donations of £Nil (2022: £60,000) from Elinor Sainsbury.
During the year Four Corners Books received donations of £35,000 (2022: £Nil) from Alex Sainsbury, husband of Elinor Sainsbury, a Trustee
During the year Four Corners Books received donations of £157,500 (2022: £117,500) from Glass House Trust of which Elinor Sainsbury is a Trustee.
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.
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(A company limited by guarantee)
FOUR CORNERS BOOKS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
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.
b. Review of activities
Four Corners Books published two new books: Wheels of Light by Kevin Foakes in October 2022 and More Than A Snapshot by Annebella Pollen, in May 2023.
Alongside publishing new books, we reprinted two of our more popular titles: See Red Women's Workshop and Dracula. We also printed a new title, Candy, Andy and the Bearandas, by Alan Dein, in preparation for publication in the Autumn of 2023.
The publication of Wheels of Light was marked by a launch event at Raven Row gallery in London, where many of the projectors and artworks featured in the book were displayed and demonstrated. The event was free to attend and advertised to our mailing list and on our public social media platforms. Kevin gave a talk at Burnley Library in April 2023 about the book and the artwork featured in it. The book was featured in The Guardian, Creative Review and The Quietus, among others.
More Than A Snapshot was launched at an event at The Camera Museum in London. The event was free to attend and advertised to our mailing list and on our public social media platforms. Annebella Pollen also gave a talk in Shoreham by Sea in May 2023, about the visual material in the book.
The book was featured in The Guardian, Creative Review, The Big Issue, among others. An essay by the author, based on the book, was published in The Ephemerist and was the recipient of a 2023 Design Writing award from the Design History Society.
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. This year we published an article online by Jasmine Allen on the unusual stained glass at Christ Church Southwark, with new photography of the windows.
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 continued to work on increasing direct sales from its website, social media, online booksellers and invested in marketing to support this activity.
From November 2022 to January 2023 we worked with 1st year BA Illustration Animation students at Kingston School of Art to help their work in learning how to design and illustrate for book covers. Four Corners gave a lecture followed by a brief for a two-month project.
Following on from work we did there in 2022, Four Corners Books was invited back to Central St Martins to conduct a series of 1:1 “production surgeries” for students on the MA Graphic Communication Design. These surgeries were well received by students and feedback was positive. We also continued to provide online book surgeries providing advice and information to people working on book projects.
We took part in the Offprint London book fair at Tate Modern in May 2023, displaying and selling our books. We also arranged to have our books displayed at the Index Book Fair at Mexico City in January 2023.
In March 2023, following popularity in previous years, we made a call out on social media to offer free books to llibraries which was very well received and Four Corners subsequently fulfilled many requests for books from
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FOUR CORNERS BOOKS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
libraries.
In July 2022, Four Corners Books made a financial contribution of £1000 to arts mentoring charity Arts Emergency, and in April 2023 contributed £1000 to Art History Link Up, an organisation working to bring more people from disadvantaged backgrounds into the art history sector and diversify it.
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 £116,466 (2022: £137,375).
Total funds are £119,349 (2022: £137,783), which are unrestricted. There are no designated funds. The free reserves which amounts to the unrestricted funds less fixed assets is equal to £116,466 (2022: £137,375). The free reserves are in excess of the policy because this figure includes stock of £82,029 (2022: £112,837).
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 £192,500 (2022: £177,500). Some additional funds are gathered through the sales of books £73,512 (2022: £67,404).
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FOUR CORNERS BOOKS IA company limiled by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2023 Statement ol Tru5tses' responsibilits The Trustees are also Ihe thte¢¢or5 01 Ihe company lor the puwes ol company lawl are re8pOrssie lor prep&rin9 the Tru51ees' report and the financial 51alements in accordance 14ith appliGable law and United lfjngdom Ae¢ounb"ng Standards Iunrted knngdom Generally Attepied A¢¢txJnb"ftg Pracb"cel. Companylow requlrts the Twstees to prepare th8ndal $Wements for eath finanu81 year. Under comp4ny law. the Twslees musl not approve the financtal statements unless they are s8b"sfied that they ve a twe and fair vlew of Ihe state ol affairs ot the ¢ompany and of its incoming re50urce5 and appli¢ab"on ol iesour¢es, including in¢orne and expendJie, for Ih8t period. In k¥ep•Dng Ihe$e financial statements. the Trustees are required lo.. sele¢t 5Urtable accounbng pdiues 8nd Ihen 8Fty Ihem con8i8lenty', obseNe the rnethods and pnntlples of the Ch¥nties SORP IFRS 1021., make judgments and 8¢¢ounbng e5brnJles Ihal are Teasrffiable and prudent.. stsie whether •pplicable UK AccounbTrg Stsndards IFRS 1021 have been folowed. subie¢t lo 8ny matertal departure5 disclosed and explained in the finan81 8lalement8'. prepare the financjal ststements on the gong ¢on¢em bo•h unleJ8 It i& inappropriate lo presume Ihat the Company wll ¢onbnue in bysines6. The Trfeel ar• responsible lor kt4ihg idew•* •¢¢ting re¢ords th•1 are sulfiryent to ¥h¢)w and expl•ln the companls tr•nsa¢D"on$ 8nd di$dose re880naNe ac(yJiacy 81 any time the financial position ol the company and enable Ihem lo ensure IhHI Ihe firbanCi 51alemeni$ ¢omply the Companies Acl 2006. They gre also responsible for $afegu#rding the assets ol the company and hence lor taking reasonable steps lor Ihe pre¥entiOTh and deie¢b"on of fraud and othei $egularities. •Pfoved by ordei of the members ol the bo•rd olTwstees and siwed on their behalf by.. Elinor Sain5 Trustee Date.. Page 6
FOUR CORNERS BOOKS (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2023
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 2023.
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
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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: 26 February 2024
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 2023
| 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 2023 £ 192,500 73,512 266,012 282,446 2,000 284,446 (18,434) 137,783 (18,434) 119,349 |
Total funds 2023 £ 192,500 73,512 266,012 282,446 2,000 284,446 (18,434) 137,783 (18,434) 119,349 |
Total funds 2022 £ 177,500 67,404 244,904 246,169 1,000 247,169 (2,265) 140,048 (2,265) 137,783 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
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FOUR CORNERS BOOKS IA company limrted by guarante¢l REGISTERED NUMBER= 06591195 BALANCE SHEET AS AT 31 MAY 2023 2023 2022 Fixed assets Tangible a$$ets CunEnt assts 2N3 Stocks Debtors Cash at bank 8nd in hand 12 13 82.029 12,J29 33,283 112.837 14.828 22.209 1Z7.621 149,874 Creditors.. amounts lalling itNn on¢ year 14 111,1SSI (12.499) Net curr•nt 45s•tS 116,466 137,375 Totsl net aasets 119,349 137. 783 charity fvnds UnrÈstricted funds 15 119J49 137.783 T4)tsl funds 119.349 137.783 The company was entiled to ex•mpfion from •uthl under section 477 ollhe Companies Act 2006. The membern have not iewiied th• comptyny lo oblaln 8n outht lor the yew in rwe51kin ITh uccordance secbon 476 of Comp8nie$ Act 2006. The Truslees acknowedge th*r responsi1¢$ for compTrg Y•th the iwwements of the A¢t Spe¢l to Gtsuntsng record5 and prep8ralion of fiTh8nal statements. The fiftaneial Statements have been wepared in accordance hilh Ihe provv&lon$ awlcable to entib.es subject to the sm811 companies reMe. The financial 5tottments Tre appro¥¢d and aulhorised for issue by the TN8tees gnd signed on their behalf by.. Elinor Sain5bury Tru51ee Date. The notes on pages 10 10 18 form part ol these f¥ial 5t4lements. Page 9
FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
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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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
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 2023
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Donations | 192,500 | 192,500 | 177,500 |
| 4. Income in furtherance of the Charity's objects Unrestricted funds 2023 £ Book sales 73,512 5. Other expenditure Unrestricted funds 2023 £ Donations 2,000 6. Analysis of expenditure by activities Activities undertaken directly 2023 £ Book publishing 264,047 |
Total funds 2023 Total funds 2022 £ £ 73,512 67,404 Total funds 2023 Total funds 2022 £ £ 2,000 1,000 Support costs 2023 Total funds 2023 £ £ 18,399 282,446 |
Total funds 2023 Total funds 2022 £ £ 73,512 67,404 Total funds 2023 Total funds 2022 £ £ 2,000 1,000 Support costs 2023 Total funds 2023 £ £ 18,399 282,446 |
|---|---|---|
| Total funds 2022 £ 1,000 |
||
| Total funds 2023 £ 282,446 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
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 2022 £ 224,232 Book publishing 2023 £ 62,087 112,837 110,614 24,209 1,079 6,193 14,389 624 14,044 (82,029) 264,047 |
Support costs 2022 £ 21,937 Total funds 2023 £ 62,087 112,837 110,614 24,209 1,079 6,193 14,389 624 14,044 (82,029) 264,047 |
Total funds 2022 £ 246,169 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 |
|---|---|---|---|
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Insurance Computer Costs Bank Charges Stationery Telephone Rent Travel Storage Accountancy Independent examiners fee |
Book publishing 2023 £ 484 2,871 3,264 29 7 - - 40 6,733 2,471 2,500 18,399 |
Total funds 2023 £ 484 2,871 3,264 29 7 - - 40 6,733 2,471 2,500 18,399 |
Total funds 2022 £ 136 3,567 1,899 36 52 838 3,333 - 5,336 4,240 2,500 21,937 |
|---|---|---|---|
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,500 ( 2022 - £2,500 ).
8. Staff costs
| Wages and salaries Social security costs Pension contributions |
2023 £ 56,738 2,312 3,037 62,087 |
2022 £ 53,854 2,187 2,693 |
|---|---|---|
| 58,734 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
8. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Adminstration staff | 1 | 1 |
No employee received remuneration (excluding employer pension costs) 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 £62,087 (2022: £58,734).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 May 2023, no Trustee expenses have been incurred (2022 - £NIL) .
10. Intangible assets
| Cost At 1 June 2022 At 31 May 2023 Amortisation At 1 June 2022 At 31 May 2023 Net book value At 31 May 2023 At 31 May 2022 |
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 2023
| 11. Tangible fixed assets Cost or valuation At 1 June 2022 Additions At 31 May 2023 Depreciation At 1 June 2022 Charge for the year At 31 May 2023 Net book value At 31 May 2023 At 31 May 2022 12. Stocks Finished goods and goods for resale 13. Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income |
2023 £ 82,029 2023 £ 10,642 1,154 533 12,329 |
Fixtures and fittings £ 4,411 2,959 |
|---|---|---|
| 7,370 | ||
| 4,003 484 |
||
| 4,487 | ||
| 2,883 | ||
| 408 | ||
| 2022 £ 112,837 2022 £ 14,147 - 681 14,828 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2023 £ 5,884 - 5,271 11,155 |
2022 £ 6,323 550 5,626 |
|---|---|---|
| 12,499 |
| 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 2022 £ 137,783 Balance at 1 June 2021 £ 140,048 |
Income £ 278,159 Income £ 244,904 |
Expenditure £ (296,593) Expenditure £ (247,169) |
Balance at 31 May 2023 £ 119,349 |
|---|---|---|---|---|
| Balance at 31 May 2022 £ 137,783 |
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FOUR CORNERS BOOKS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 2,883 Current assets 127,621 Creditors due within one year (11,155) Total 119,349 |
Total funds 2023 £ 2,883 127,621 (11,155) 119,349 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 408 149,874 (12,499) 137,783 |
Total funds 2022 £ 408 149,874 (12,499) 137,783 |
|---|---|---|
17. Related party transactions
Four Corners Books no longer has an office at Raven Row and so was charged £Nil (2022: £3,333) for rent. Elinor Sainsbury, a Trustee, is the wife to Alex Sainsbury, a Trustee of Raven Row.
During the year Four Corners Books received donations of £Nil (2022: £60,000) from Elinor Sainsbury.
During the year Four Corners Books received donations of £35,000 (2022: £Nil) from Alex Sainsbury, husband of Elinor Sainsbury, a Trustee
During the year Four Corners Books received donations of £157,500 (2022: £117,500) from Glass House Trust of which Elinor Sainsbury is a Trustee.
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