FOUR CORNERS BOOKS (A company limited by guarantee)
## TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MAY 2025
The Trustees present their annual report together with the financial statements of the company for the period 1 June 2024 to 31 May 2025. 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 received donations of £15,000 (2024: £10,000) from Elinor Sainsbury ~~.~~
During the year Four Corners Books received donations of £150,000 (2024: £150,000) 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 2025
## 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 ~~.~~
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FOUR CORNERS BOOKS
(A company limited by guarantee)
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025
## 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
In October 2024, Four Corners Books published a new title: Loncraine Broxton: Innovations and Executive Toys, a visual history celebrating a company set up by two artists with a background in kinetic sculpture, concrete poetry, and the experimental art scene of the 1960s, who used this knowledge to make inexpensive and wildly popular sculptures and desktop toys ~~.~~
Alongside publishing this new book, we reprinted one of our most popular titles: UFO Drawings from the National Archives ~~.~~
To mark 20 years of Four Corners Books, we published a catalogue of our books to give away with orders and promote our books to bookshops. We also organised a window display of all our titles at Tender Books in London to mark our anniversary ~~.~~
The publication of Loncraine Broxton: Innovations and Executive Toys was celebrated with a launch event at Hatchard's bookshop on the 24th of October, which was free to attend and advertised to our mailing list ~~.~~
The book attracted enthusiastic reviews from a range of arts and cultural publications, including The Guardian, Art Review, Monocle, Wallpaper, The Spectator and Film & Furniture ~~.~~
We began preparing a book on the Greater London Council in the 1980s, to be published in early 2026 and also on a book about the history of children as photographers, to be published in Autumn 2026.
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 continued to invest in marketing to support this activity.
In November 2024, we took part in Bound Bookfair at the Whitworth Gallery in Manchester and used this opportunity to present our books to new audiences ~~.~~
As in previous years, we were invited by Central St Martins to give production surgeries on the 30th of April to MA Graphic Communication Design students with the purpose of helping them develop ideas and receive feedback about book project production and distribution ~~.~~
At the beginning of the year in 2025, following popularity in previous years, we made a call out on social media to offer free books to public libraries. Each year this enables us to reach new librarians who can select books from our list which are of interest to their visitors ~~.~~ Over the years, requests have spread from school, university, and community libraries to prison libraries, and even libraries set up in village pubs ~~.~~
As in previous years, Four Corners Books made a financial contribution of £1000 to arts mentoring charity Arts Emergency, and £1000 to Art History Link Up, an organisation working to bring more people from disadvantaged backgrounds into the art history sector and diversify it ~~.~~
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FOUR CORNERS BOOKS (A company limited by guarantee)
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025
## 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 £20,000. The free reserves total is £135,923 (2024: £132,203) ~~.~~
Total funds are £137,671 (2024: £134,852), which are unrestricted ~~.~~ There are no designated funds. The free reserves which amounts to the unrestricted funds less fixed assets is equal to £135,923 (2024: £132,203). The free reserves are in excess of the policy because this figure includes stock of £47,457 (2024: £66,872) ~~.~~
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 cost ~~-~~ prohibitive, 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 £165,000 (2024: £160,000) ~~.~~ Some additional funds are gathered through the sales of books £41,200 (2024: £89,023) ~~.~~
## Plans for future periods
Four Corners Books continues to work on books which advance education of the visual arts (or share knowledge of visual arts) through the medium of books which reach broad audiences, through the medium of books sold at affordable prices circulated through the bookshop network. In the coming months, Four Corners Books is working towards the release of a book about the visual material generated by the GLC, Greater London Council - highlighting the organisation’s role as a source of innovative visual campaigns focused on social issues affecting ordinary people and supporting marginalised creative groups.
Four Corners Books will also begin working on the editing and laying out of a book about the history of children as photographers, telling the story from the early days of photography through to the beginning of the digital era ~~.~~
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## FOUR CORNERS BOOKS (A company limited by guarantee)
## LLL TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 enemaeae sia tesesctncnaaciaacasescaes
## Statement of Trustees’ responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- ° select suitable accounting policies and then apply them consistently;
- e observe the methods and principles of the Charities SORP (FRS 102);
- e make judgments and accounting estimates that are reasonable and prudent; e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- ° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Approved by order of the members of the board of Trustees and signed on their behalf by:
Elinor Sainsbury Trustee Date! /F.02'AL
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17 February 2026
## FOUR CORNERS BOOKS
## (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2025
||||||||||||||||||Unrestricted
Total|Unrestricted
Total|Unrestricted
Total|Unrestricted
Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||funds
funds||||funds|
|||||||||||||||||||2025
2025|||2024|
|||||||||||||||||Note||£
£|||£|
|Income from:||||||||||||||||||||||
|Donations|||||||and legacies|||||||||3|165,000||165,000||160,000|
|Other trading activities
Total income
Expenditure on:||||||||||||||||4|41,200
206,200||41,200
206,200||89,023
249,023|
|Charitable|||||||activities||||||||||201,381||201,381||231,520|
|Other|||expenditure|||||||||||||5|2,000||2,000||2,000|
|Total expenditure|||||||||||||||||203,381||203,381||233,520|
|||||||||||||||||||||||
|Net movement||||||||||in|||funds||||2,819||2,819||15,503|
|Reconciliation||||||||||offunds:|||funds:|||||||||
|Total||funds brought||||||||||||forward|||134,852||134,852||119,349|
|Net movement in||||||||||||funds|||||2,819||2,819||15,503|
|Totalfunds||||||||carried|||||||forward||137,671||137,671||134,852|
The Statement of Financial Activities includes all gains and losses recognised in the year ~~.~~
The notes on pages 10 to 17 form part of these financial statements ~~.~~
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## FOUR CORNERS BOOKS (A company limited by guarantee) REGISTERED NUMBER: 06591195
## assesses
||BALANCE SHEET|BALANCE SHEET||
|---|---|---|---|
||AS AT 31|MAY 2025||
|Sissies
elle cenit
cicece
siisa ames
ccicacnecaaet||||
|||2025|2024|
||Note|£|£|
|Fixed assets||||
|Tangible assets|11|1,748|2,649|
|Current assets||||
|Stocks|12|47 ,457|66,872|
|Debtors|13|14,001|11,269|
|Cash atbank and in hand||89,462|69,667|
|||150,920|147,802|
|Current liabilities||||
|Creditors: amounts falling due within one
year|14|(14,997)|(15,599)|
|Netcurrent assets||135,923|132,203|
|Total netassets||137,671|134,852|
|Charityfunds||||
|Unrestricted funds||137,671|134,852|
|Totalfunds||137,671|134,852|
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.
**----- Start of picture text -----**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A
Elinor Sainsbu
Trustee ym
Date (Pi Oe 6
**----- End of picture text -----**
The notes on pages 10 to 17 form part of these financial statements.
## LL
—<— Page 9
FOUR CORNERS BOOKS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
## 1 ~~.~~ General information
Four Corners Books is a company limited by guarantee in England and Wales, whose registered office is First Floor, Black Country House, Rounds Green Road, Oldbury, West Midlands, B69 2DG ~~.~~ 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 2019), 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 continue 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 2025
## 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 2025
## 6 ~~.~~ Analysis of expenditure by activities (continued)
## Analysis of support costs
|||||||Book|Book|Total|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||publishing||funds||funds|
|||||||2025||2025||2024|
|||||||£||£||£|
|Depreciation||||||901||901||792|
|Travel expenses||||||-||-||378|
|Insurance||||||4,374||4,374||3,910|
|Computer||||costs||2,468||2,468||1,813|
|Bank charges||||||20||20||96|
|Stationery||||||134||134||143|
|Storage||||||8,114||8,114||7,801|
|Accountancy||||||5,384||5,384||3,393|
|Independent examiners fee||||||2,689||2,689||2,600|
|||||||24,084||24,084||20,926|
## 7 ~~.~~ Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,689 (2024 ~~-~~ £2,600).
## 8 ~~.~~ Staff costs
|||||||2025|2025|2024|
|---|---|---|---|---|---|---|---|---|
|||||||£||£|
|Wages and salaries||||||63,970||61,174|
|Social security||||costs||2,788||3,356|
|Pension contributions||||||3,198||3,059|
|||||||69,956||67,589|
The average number of persons employed by the company during the year was as follows:
|||||2025|2024|
|---|---|---|---|---|---|
|||||No~~.~~|No.|
|Administrationstaff||||1|1|
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