Charlty reglstratlon number 1126806 (England and Wales) Charlty reglstratlon number SC043054 (Scotland) Company registration number 06607389 (England and Wales) THE READER ORGANISATION ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The Reader THE READER ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs A S Marsland MBE {Chair) Mr H Biddell Dr R M Hussey CB,OBE,DL Mr P L Daviés MrPKSood Mrs S Fletcher Dr H Willows Mr O Ajake Mr Nl Atklnson Secretary Ms J Martin Managlng Dlrector Dlrector of Llterature Dlrector of Flnance, Governanco & Commerclal Plannlng Ms J Guerrier Ms K Clarke Ms V Hopton Charlty number (England and Wales) 1126806 Charlty numbèr (Scotland) SC043054 Company number 06607389 Reglstered offlce The Manslon Hous8 Calderstones Park Llverpool M8rseyside L18 3JB Audltor Xoinadln Audlt Llmlted 46 Hamilton Square Birkenhead Wirral Merseyside CH415AR Bankers Santander UK PIC Bridle Road Booue Mersey5id8 L30 4GB THE READER ORGANISATION CONTENTS Page Annual Report 2023-2024 Trustees, report 10-17 Statement of TTUStees' responsibilities 18 Independent auditorfs report 19-22 Consolldated statement of finan¢lal actlvlt18S 23 Consolidated & charity balance sheets 24 Consolldated statement of cash llows 26 Notes to the financial siat8ments 27-47 THE READER ORGANISATION ANNUAL REPORT 2023-2024 FOR THE YEAR ENDED 31 MARCH 2024 In 2023, we announced the theme of The Reader's Bookshelf 'Weatherlng the Storm,. Over the last year, this theme has felt relatable and pertinenl for so many individuals and communities with whom we work, due to economic and social pressures a5 well a5 global events. Like many other charities and arts organisations, we have had to make tough cholces about our prlorftles and our resources, whllst grappllng wlth the uncertalntles and challenges that make long temi plannlng dlfflcult. As we chart the organlsatlon's route through these choppy waters, we keep The Reader's values. vlslon and mlsslon a5 our anchor. Our vlslon is of "A worfd where everyone can oxperlence the power of Ilterature to help us suThlve and Ilve well.. Il's been inspiring to see our talented, committed volunteers and stsff make this a reality this year- exploring stories with Children and Ihelr familles at the Storybam, concluding our three-year heritage project with th8 installation of a new pennanent a￿ork, creating our anthologies and podcasts, programming garden theatre at our organisational home at Calderstones. and delivering our national ne￿Ork of Shared Reading groups. We are proud of the progress made towards our strategic goal of developlng Shared Readlng where It Is needed most; for example. our Reading Heroe5 programme for care experienced children received new funding to expand and we commenced new work to embed Shared Reading across the mental health pathway. In Liverpool, we are bulldlng a ¢ommunlty based on Shared Readlng in Calderstones Park to demonstrate how a creative model of health improves social connection and wellbeing. The opening of Calderstones in 2019 was a huge development in how The Reader achieves its mission of bringing people and books together in welcoming places. A varied programme of community activities is now underpinned by a thriving volunteering scheme and growing social enterprise whlch provlde meanlngful Jobs and unrestrlcted Income to support the Reader. But there Is so much more to do. In Liverpool alone, one in every 64 children were living in care lest year. 7.1 % of P8opI8 In Great Britain (3.83 million) experience chronic lonelinèss, meaning they feel lonely 'often or always,. The waiting list for NHS mental h8allh support is estimated to be 1.2 million people. Many people who come to this country seeklng refuge don't find a welcomlng place. 1 in 5 children don't hav8 a book of Ih8ir own at home. Many people, young and old, just don't feel thal literature Is for them. When society Is faced with such challenges and fundlng Is tlght, th8 pressure grows on arts and cultural organisations to prove their value. But It Is in these Umes. that we all most need the community, the creativity and meaningful connections that thls work fosters. For years, The Reader has been quieuy pursuing our misslon of a Reading Revolution and developing a body of evidence which demonstrates reading aloud and literature's power to transforni Ilves. We know that sharlng the stories of whal literature can do is more vitsl than ever before - to widen and diversity participation in our work and to secure Ihe support we need to sustaln It. This report focuses on sharing some of the stories from the last year, and as always we are grateful to all the staff. volunteers and supporters who have made them happen. Jemma Guerrier, Managing Dlrector & Anlta Marsland, Chalr of Trustees 'And although the stories all had different voices, and came from different times and places and understanding, though some were shown, enacted or written ralher ¢han told, each orpe was like a puzzle piec8 which tongued or grooved neatly to another.,. From Potiki, by Patricia Grace THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 YEAR AT A GLANCE 496 active adult Shared Reading groups in the UK. 625 active Volunteers in the UK. 20,778 Shared Reading participants in the UK. Intematlonal Shared Reading now in 18 countrles wlth over 300 trained Reader Leaders. Reading Heroes expanslon outslde Liverpool City Reglon for the first time, engaging care experien¢ed chlldren aged 2-15. 16,850 vlslts to the Storyb8m, our magical multl-purpose playspace for children. Launched now partnorshlps with Camden Council, Halton Borough Council and Alder Hey Children's Hospital. Criminal Justice contract renewed to deliver Shared Reading in 28 PIPES {Psychologlcally Informèd Planned Envlronments) across the country OV6r the next years. Funding secured for Shared Reading across m8ntal health pathway. 1.320 p8op18 attended our Christmas Story Trail. Sold 11.500 tickets making us £120,000 in tick8t income. 1,297 children attended herltage school trips. Launched our first Chrfstmas Appeal, ralslng £8550.56 to glve th8 Joy and life-long benefits of readlng to vulnerable children through our First Page project. 55,000 followers across our social medla plaffom)s. Concluded our Natlonal Lottery Herilage Fund Herltage project engaging our community through Shared Reading, evènls, anthologSes. podcast, volunteering 8nd the Installalion of our first permanent arlwork, Now We Sit Vrth It. We now recycle more of our waste than goes to landfill. Served 33,551 cups of tea, 62.998 cups of coffee and 66,942 scoops of Ice cream. Delivered 110 events, from weddings to wakes, and christenings to corporate away days. Operated a welcoming public building seven days a week attracting over 395,000 vtsits. Published 37 new eplsod8s of The Reader podcast. THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 WHO IS LITERATURE FOR? For everyone, but perhaps especiallyt for those who rnight think it is not forthem. The great library at Thebes In Anclent Greece bore the inscription, 'The medicine chest of the soul,. The idea that reading can do us good is not a new thought. Great books are available in all public librarie5, but many people - often the most in need don't realise great books exist for them. For example. Kim a young woman in a Shar8d Reading group in a Prison told the Group Leader she thought poems 'borFng and rubbish. Stories and poems make no sense. Pathetic. Crap. Stupld., Until one week the group read. 'Bluebird' by Chades Bukowski. There's a blueblrd In my hèart that wants to get out but I'm too tough for hlm, I say, stsy In there, I'm not golng to lat anybody see you...... The effect on Klm was Immedlate. 'It s got my belly chuming...l Gan feel it her8. It s tha b8St thing 1tr8 r88d. Its really good. 11 s like me r8ally.. that on8.. man, itgot mel, 'You n8ed It,, as one of the members of the first Shared Reading group said to the group leader, 'but you don't know you n88d il,. Beyond the intrinsic valu8 of books, the act of reading them together as a live activity, rather than in solitary-reader- Isolation, can multiply their power and value. Great literature connects us and provides us with a space where the complex, mysterious parts of life can be sought out. The Inner stuff Is glven a fomi and shap8 and new language is supplied for thoughts, faellngs and struggles. We are passionaté about ensuring Shared Reading is accessible and available to everyone because we need more human conn8Ctlon, feeling, thinking and crucially more free and open conversation. We need to encourage a love of reading In children from an eady age because It bullds, In the words of our patron and Children's Laureate, Frank Cottrell-Boyce, 'the apparatus of happiness.. We need to keep on raading, togèther Katle Clark, Dlrector of Llterature "l am back lo the old me. Allson's Reader Story Allson attends a weekly Shared Readlng group whlch began at our home In Calderstones Park 15 years ago. The current youngest member is 23, and the eldest 98. "I medically retired from work at Ihe council after bèing diagnosed with Fibromyalgi8. I was g8tting us8d to having disability, had lost all confidence and did not want to go out. I felt I didn't have an￿hIng lo offer. A friend of mine said they were going lo Shared Reading. so I went along foo. When I first came to a group al the old Mansion House in 2013 1 felt dead uncomfortable. I do not raad aloud, I lik6 to listen, and I never used lo stay for coffee afternards. But eventU811y I startgd talklng to people and r8alised how intsr8Sting th8y wer8. They inspired me. They all had int8resting lives. Gradually I became more outgoing. Shared Reading has been a bit of a jouméy for m8. l am back to the old m8 and f861 much mor8 confident." THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 LITERATURE IS FORALL CHILDREN & YOUNG PEOPLE "I dony think she's had anyone reading aloud to her in the way that I do it.. Daniel, a Reading H8roes volunteer Sinc8 2016, we've bgen successfully promoting the benefits of reading for pleasure for care experienced children aged to 15 yèars across Liverpool City Region Ihrough our Readlng Heroes programme. Reading Heroes sparks a lovè of reading for pleasure by pairing children with a highly trained volunt88r to enjoy the magic of reading aloud together. We were especially delighted thls year to create Tlny Heroes, a new Shared Reading programme for pre-school chlldren, aged two to four, commissioned by Liverpool's Virtual School. Tiny Heroes focusses on volunteer led home vlslts, full of the joy of story sharfng, slnging and nursery rhymes. Funding from The Rayne Foundation has allowed us the opportunlty thls year, to take steps towards growth and expanslon. We've been working on developing relationships with Vlrtual Schools throughout a wider geographlc area, refining prO￿sSeS and structures, such as our monitoring and evaluation. and management of our data, leaving us best placed to expand Reading Heroes into new authorities in 2024. Watch our vldeo about the Readlng Heroes project here- Reading Heroes (youtube.¢om) "H8r happiness just beams out of hort Danlel's Volunteer Story Daniel, a ratlred teacher. reads overzoom wlth two siblings: an eight-year-old glrl and a seven-yearwold boy. Both enjoy readlng aloud to Danlel, though he stlll glves them the cholce of Ilstenlng to hlm read If they prefer. "Both of them are respondlng very, very positively to the Id88 of r8ading for joy. The glrt P8rt1cul8rly responds In a remarkably happy way. I mean. her happiness just beams out of her. This is her tlm8 to shine, as a regder, and also withln the reading relationship that w8 have. Although she probably d08s read elsewhere. I thlnk she has the freedom to expand in her Imagination when we read aloud together. Thaf's the pleasure of reading a book aloud. But then all that pleasure found withln books does le8d us on, into 8 world of relationships, understandlng and identification, and engagament In Imagery and metaphor and philosophy. In 8 child's experience of the adult world. which Certainly for many looked after children may be a frlghlening, bleak and dark one, the relationship with a Reading Heroes volunteer has a beginning, middle and end- a bil like a slory. It is an opportunity for a relalionshlp that, beginning to end, is wholly positive and wholly good. They can take that wilh them, and put it In that secret, special place where they put wholly good things.. LITERATURE IS FOR ALL FAMILIES "Made my Imagination run wlld, LOVED ITI" Family Fun Day participant Our First Page Project brings the joy of story sharing and reading for pleasure to families across the North West, through collaboration with a network of trusled partner organisations. Our partners include children's centres, health providers and third sector organisations, such as Home5tart. Refugee Women Connect and Kinship Carers who are trained and supported to embed The Reader's Shared Reading model within their services. We delivered 16 Famlly Fun Days. allowing parents and children to immerse Ih8mselves in our magical playspa The Storybam, unleash their imaginations and explore nature. Successfvlly ran five Sharfng Storfes In the Earfy Years training days for partner staff and volunteers. helping to support them to run a weekly story and rhyme group for under 5s. THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Visited nine Cornmunity based storytimes currently delivered by partner staff and volunteers that have been Reader trained. These visits included a Shared Reflection, providing ongoing support and ensuring quality in the Shared Reading practice of our partner siaff and volunteers. Delivered four Storles for You & Yours Workshops to build the confidence of parents and carers with Shared Reading. The Reader team went out to flve partner organlsatlons, bringing parents and carers togelher to dellver 6 w88k cohorts of our Books & Babies groups. Books & Babies offers moments of calm and reflection to new parents through Shared Reading and hints and tips, along with a gifted book to support family Shared Reading at home. Watch our vldeo about Flrst Page https.'Ilwww.youtube.comlwatch?v=gGgcXiM4mM Th8 Storybarn Is our maglcal playspace based In our home In Llvèrpool's Caldèrstones Park, and welcomed 16,850 people In 2023-2024. Here you'll find a team of trained Storyhunters, dressing up clothes, bubbles, a craft room and installations to stimulate young imaginations including a 12-foot robot, a hot air balloon, a tree house, a slide and of course. hundreds and hundreds of books. This year we launched our popular new Hollday Clubs. for children aged 5-10, where 196 chlldren enjoyed our exciting and enriching activitses during the school holidays. Our Our Storyhunters also engaged new communities and delivered Shared Reading sessions with over 600 people In one day at the Spooky Welly Walk. Whilst children with additional needs are alway5 welcome, we also held 12 Storybam Relaxed Sgsslons to ensure that children with aulism and s8nsory conditions can come and enjoy the magic of the spac8 at their own pac8 and in their own way. Nine members of the Storybam team attended Autlsm Awareness tralnlng led by Autism Adventures. In addition, this year, we were able to deliver BSL read along experlences on request for Deaf visitors where an addltional m8mber of our team reads along using sign language to ensure that everyone can experience storyiime together. The Storybam maglc also went out on the road, reachlng 1,068 chlldren though workshops focused on reading for pleasure featuring an exciting mix of interactive reading sessions, and ggmes, all designed to help encourage a love of reading outside of the educatlonal framework. Watch a readlng of '1 Want My Hat Back, uslng BSL https:Ilwww.youtube.comlwatch?rhWxXqQp7SIQ LITERATURE IS FOR ALL ABILITIES AND BACKGROUNDS "Slnce Jolnlng the gmup I felt the people sharfng the storles saved me from hlttlng a dark place" Shared Reading participant 2023-2024 evaluation. Brnakin Barrlers The Reader wants Shar6d Reading to be available for everyone, and we are keen to reach those who do not S88 themselves as readers. because we know that Shared Reading can have an even greater impact for them. Our 2023-2024 evaluation findings show that respondents who felt negatively about reading before joining their group 'strongly agree, with every measure of beyond-the-group impact at higher rates than our reading community as a whole. THE READER ORGANISATION ANNUAL REPORT 2023.2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 They also experience significantly higher rates of strong agreement than our community as a whole for certain within-group impacts, including: the group liftlng thelr mood (74 /• compared to 58 % ), connecting with others in deeper way {51 D￿ compared to 39 /.) and feeling a sense of achlevement158 % compared to 450/0). From our ￿enty-year history, we know that the power of Shared Readlng can help build connectlon be￿een people from diverse backgrounds and grow our ability to think in different ways and better understand different experiences and perspectlves. A key part of our modèl has always been that there is no pressure to read aloud or talk. If you want, you can simply come and Ilsten. "Il we don't feel Ilko sharlng our thoughts or ffeellngs we dony have to. but everyone knows and understands that. so you don? feel excluded, you still feel part of somethlng." Group Member Our 2023-2024 eValua￿On showed us that 240/0 of adult communlty group members Identlflod as Dldeaf, dlsabled or Ilvlng wlth a long-term health condltlon. Over a fifth of them told us that before joining their group, .1 used to enjoy reading, but hadny done It much lately,. "Zoom fomiat helps connect and reduce my isolatlon as I'm Immunlty suppressed. Havlng a chronlc Illness, can attend even when slightly unwell whlch Ilfts my spirits.. Zoom Is vltal for me to connect to community." Group Mernber, 2023-2024 evaluation We have been working hard over the last year to build partnerships which help g8t Shared Reading out to those who need it, and to think about ways we can adapt our resources to ensur8 that Shared Reading truly is accessiblè to all. This year, we developed a new partnership with Bradbury Flelds, a charity in Liverpool which works with blind and partially sighted people. Together we set up a weekly Shared Reading group at The Bradbury Centre where Ihey are based. We provide all Ihe Illerature we read in advance. so that11 can be printed in braille and extra large fonls to make sur8 that it is accessible for everyone. 'It glvos you perhaps a deeper Inslght Into feellngs. And I thlnk that always helps wlth your wellbelng...I have lound that It has a calmlng effect.. Shared Readlng partlcipant at Bradbury Fields Watch a vldeo about the Shared Readlng group at Bradbury Flelds here: https:IlvA•M.youtube.coml watch?v=GUEh6J3r7RI Understsndln our Herlta e & Dlversl The National Lottery Heritage Fund supported our 'Maklng Meanlng at Caldorstones, project which ran from December 2021 lo March 2024 and allowed us to engage our local community in the history and heritage of our organisalional home in Liverpool. Volunteer researchers were led by historian Lawrence Westgaph. exploring and interpreting links beiween The Mansion House and the slave trade. Part of this saw artist Sumuyya Khader produce the athork, 'Now We Sit Wlth It,, which was inspired by the research and is now pemianently on display in the Mansion House. Over 5,500 hours were contribuled by volunteers to this project. as new roles including Community Curators, Heritage and Lilerature Integration Volunleers, Heritage Researchers, Heritage Story Sharers and Heritage School Trip Volunteers were created. Thls project also saw an Increase in volunteers from ethnic minority backgrounds and with a disability, as well as engaging young people within our area. 1.297 chlldren attended a heritage trip at The Mansion House where Ihey leamed new heritage-related skills and the trip has become a pemianent feature of the Storybam programme. THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This large-scale project also included: Heritage Open Days. a new park map and new signage celebrating the history of the trees in Calderstones Park, dedicated episodes on The Reader podcast and anthologies, 16 people's living memorie5 belng recordod as oral hlstorlos, a new heritage focussed Shared Reading group being established. and a wealth of heritage-themed perfornances at our Garden Theatre. The project was praised by Llverpool Wortd, BBC Radio Merseyside, Cultur8 Liverpool, partner thlrd-sector organisalions and schools who attended our trips. The impact of this projecl ripples throughout our space. with our increased understanding of heritage and this being embedded in our programming, visually displayed and on offer to visitors. 970A of people suNeyed who attended a Heritsge Theatre perfomance. Heritage Open Day or Heritage Family Workshop agreed that The Reader at Calderstones makes this area a better place to Ilve, work or vlslL Our commltment to E ul Dlverslt and Incluslon Whilst Inclusion is integral to our work. we know that we do more to make our bellef that Shared Reading can be for everyone a reality. In particular, w8 want to help ensure that racism is eliminated from the wodd and feel we have a small but vital part lo play in that change. Our Equily, Diversity and Inclusion IEDI) work, induding our commitment to addressing racism and racial diversity, covers all aspects of our organisation and focuses on how we ensure that.. Our ways of worklng treat people faidy and enable everyone to participate. We can be more representative of our communities onsidering our Board, staff, volunteers and participants in our work. Everyonè coming to The Reader feels that they 'belong'. Great literature from writers with dlverse backgrounds and 8xp8riences Is 8nloy8d across our Shared Readlng and programmlng. In partlcular, over the period of our CU￿ent thr8&y8ar buslness plan whlch takes us to March 2026. we alm to increase the representstion of black, Asian and ethnic minority communities in our stsff team, volunteers and participants In our work by 50'h. We recognise that creating meaningfijl and lasting change Is ongoing and complex work. which requires us to have conversations that feel difficult for many of us and to raise questions that we might not yet know the answers to. But Ihls wlll not deter us from our commitmenl to building a diverse and incluslve Shared Reading movement, and ensuring that all our employèes, volunteers and participants feel welcome and safe. Progress in 2023124 towards achieving these goals: Adapted our recruitrnent processes lo make them more Incluslve. Diversified our recruitment nelworks. Began the development of an intemal EDI training offer for all staff. Signed up to the Car8 Leaver Covenant. enabling ways to connect our opportunities with the care leaver community. Following on from our 'Just Us, staff shared reading project. we have worked to consult with stsff, volunteers and group members to develop principles for Shared Reading practice in relation to issues around race and raGism {and related EDI issues) that can arise in literature. As well as written guidance, we are developing Praclical Support Workshops for Reader Leaders and a new 'Just Us, anthology of tried and tested literature for reading in groups. We continued to focus on diversity in the literature we read, using our annual Bookshelf, in-house anthologies and volunteer support sessions to promote US8 of diverse texts. Established twelve ESOL Shared Reading Groups for asylum seekers and refugees andlor those who have English as an additional language. Read the full commltment here https'.Ilwww.thereader.org.uklwpcontenUuploads120241071EDI-statement-for- website-April-2024-update.pdf THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Diversit of our eo le and artici ants RegulaTly monitoring the diversity of our pèople and participanls is a crucial part of our EDI work to help us undersland who we are reaching. and how that changes over time. ensuring that Shared Reading is in the places where it's most needed. Our 2023-2024 evaluation showed, 18Q/o of our group mémbers were aged under 50, with 360/0 be￿een the ages of 50 and 70 and 47/g in the 70+ age brackeL 71Q/o of readers were female. and 280/0 identified as a Dldeaf or disabled person. or had a long-tem health condition. 7% identified wilh a sexuality other than heterosexual or slralght. 12 /u of readers were neurodivergent. In recent years we've had a particular focus on increasing the racial diversity of our reading community. In Spring 2024, we were 1 Yo below our 10 % target and pre-covid positlon for group members identifying with a global majority background. However, data for our newest group members shows that we were successfully attracting a more diverse audience to our open communlty groups with 17 1 of those surveyed who had been attending for three months or18ss identifying as people of the global majority. Thls progress with our newest open community members is something which we hope to see reflected and built upon in next year's data. The makeup of our volunteer communlty is broadly similar to that of our opèn community group readers in areas such as age, ethnicity and gender. 100/0 of our volunteers are of an ethnicity other than White, an increase froTn 80/0 in the previous year. 860A of our volunteers are female. 16% identified as a Dldeaf or disabled person, or had a long tem health condition, and 30h identified with a sexuality other than heterosexual or Straight. We continue to monitor the diversity of our worlrforce, both during recruitrnent and on an annual basis. In Spring 2024. 170/0 of our staff members employed through the charity identified as Dldeaf, disabled or living with a long- temi health condllion, up from 14°/0 in March 2023. 80/0 of charity staff werg of an ethnicity other than While. 140/4 of our charity staff identified with a sexuality other than heterosexual or straight, an increase on the previous year's figure of 120/0. We hav8 seèn a similar increase in our recruitment data (which spans applicants for bolh the charity and our Community Interest Company) where the proportion of applicanls chooslng a sexuality other than heterosexual or slralght Increased from 31 Yo to 400A. 2811/0 of charity staff In 2024 Identlfied as neurodivergent, compared to 190/0 in March 2023. Thls Increase In Indlvlduals identifying as neurodivergent was also reflected In the year's recruStment data, where rales Increased LITERATURE IS FOR HEALTH & WELLBEING Wè know that Shared Readlng has health and wellbeing benefits for people at all stages of their mental health joumeys, and we were delighted to receive funding this year from Garfleld Weston and the Natlonal Lottery to build on our existing portfolio of work to break and prevent the UK'S cycle of ill mental health, by building and testing local. replicable ne￿orkS of Shared Reading support. We want to develop referrals be￿een groups al local points of care for consistent. trusted support at every stsge of people's mental health joumeys. Across the year we established 50 new groups in communities, including: RASA Mersey5ide, supporting women who have experienced sexual abuse Social Adventures in Salford, a social enterprise supporting mental health and wellbeing Birmingham Hospital Staff well-being group For 13 year5, Tha Reader has been njnning ihe UK'S only cllnlcal Shared Reading group for patienls with chronic pain. Taking place in Liverpool's Broadgreen Hospital, this group is a ploneerlng Interventlon and has proved highly successful as a useful therapy for people with chronic pain, alongside existing NHS therapies. THE READER ORGANISATION ANNUAL REPORT 2023-2024 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The group continued this year, alongside an online Shared Reading group for those with chronic pain. We read with an average of six people every week. "Shared Readlng does not reduce paln but It glves a huge boost to wellbelng and enjoyment of Ilfe. All my patlents who attend the group fell me Irequently of the dlfference It makes to thelr Ilves. As well as the known benefits of group worklngi Ilterature Itself has an Independent effect. Shared Readlng changes Ilves for the better." Dr Andrew Jones - Consultant in Pain Medicine al Broadgreen Hospital. who helped establish Ihe group. .1 don't think I d be where l am today rfl hadny come. Samml's Roador Story Samml Is a 50-yearpold Llverpool mother-of-three and Carer has been dlagnosed with fibromyalgla. Slnce a fall whlch caused devastating Injurles, she has been attondlng a Shared Readlng group at Broadgreen Hospltal chronlc paln cllnlc for flve years. °Just 8ft8r Chrlslm8s in December 2010 my f8mlly and I w8r8 golng to vislt my partner's brother when I had 8 bad fall. As we anived 8t the house, I got out of the car and went flying on some black Ice. I broke and dlslocat8d my ankle. Since then, I've had eight surg8ri8S to try and fix it and been under the Chroni¢ Pain Glinic to help me cope with the pain. In 2012 my mental health worsened. and it look two years b8for8 I was diagnosed with fibromyalgia. They told me about Ihis group at the Chronic Pain Clinic five years ago. I have always sfnjggled with reading. I lik8 books but I've never really read very much on my own as l am dyslexiG. Shared Reading has be8n a good thing for me to get involved in. Its made a big impact on my confidence and underslandlng of Iltarature. In our gmup I was Intmduced to Patrfcla Grace's novel, Potikl, whlch Is about a Maort community in New Zealand fighting to sav8 thélr land. 11 has be8n my f8vouril8 book so lar and was the very fi￿1 novel I hav8 r88d all th8 way through. It really connected with m8 as I related to the simple, community life it described- it's very me. This book m8d8 m8 reallse Ih8t you are somgtimes just hll by c8rt8in things in life and il s jusl about worklng your way through all these different things. That really hit home. .Every week befor8 the group myself and another group member meet up to chat about our week. l find Shar8d Reading distracts and takes your mind off things. You feel like you're part of a community with like-mlnded people. We all know how e8ch other feels when it comes to coplng wlth paln. You know without saying anylhing that everyone underslands. My head is In 8 good pl8ce now considering the paln l am in. I have galned a lot of posltivity and realise I can read a novel with 8veryon8 s support. It may seem lik8 8 small thing, but it has meant a lot to me. .1 don't think I'd be where l 8m today if I hadn't come lo Ihis Shared R88ding group.. Mrs A S Marsland MBE (chalr) l 20Z* THE READER ORGANISATION TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's governing documenl {Memorandum and Articles of Association), the Companies Act 2006. the Charilies and Twstee Investment (Scotland) Act 2005, the Charities Accounts {ScoUandJ Regulations 2006 las amended) and 'Accounting and Reporting by Charities.. Statement of Recommended Practic6 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective 1 January 2019)". Objectlves and activities Objects of the charlty The charity's objects are lo promote any chariiable purposes for the benefit of citizens and inhabitants of the United Kingdom and other countries, In particular the advancement of education, the furtherance of health, th8 relief of poverty, distress and sickness, the promotion of so¢lal incluslon and furtherance of community especially through reading and literature based activities. Our Vision We want a worfd where everyone can experienc8 the power of literature to help us survive and live well. Our Mlsslon The Reader Is a charity that uses the power of literature and reading aloud to transform IIv8s across the UK. Our volunteers and staff bring people together to read great stories and poems creating powerful moments of connection. We call thls Shared Reading. In a world that feels increasingly divlded, and with increased pressures on our m8nlal health, Shared Reading offers us time and space to shar8 what matters to us. We read with children, famlllès, adults In librades and community spaces, péoplè In care homes, people with physical and mental health conditions. Ihose coping wilh or recovering from addiction and people in the crimlnal lusllce system. Our work improves wellbeing, reduces loneliness and helps us find new meaning in our Ilves. Alms for our Calderstones home 1) To Improve wellbeing through a creatlve communlty and the power of Shared Reading. 2) To Demonstrate how a creative model of health irnproves social connection and wellbeing. 3) To Generate income to support The Reader and provide opportunities for meaningful lobs and volunteering. 10- THE READER ORGANISATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and perforniance Our four Strate ic Goals for 2024-2025 Goal 1) Develop Shared Readlng for those who need It most Objectlve". Meet Shared Reading delivery outcomes and build referral routes into adult Shared Reading community groups with a focus on pathways from Inpatient settings In the South East and North West and pathways into Calderstones groups. Prlorities: Develop more direct referral routes into Shared Reading with a focus on social prescribing pathways and reaching 420 adult Shared Reading groups. Successful delivery of Reading Heroes and PIPES contracts. Secure new commissions from NHS forAdult Shared Reading and for Reading Heroes expansion. Refine Big Day OuVFront Door Key scheme lo widen access to Calderslones activities Goal 2) Open the treasure house of Ilterature to all. Objectlve: Increasè engagem8nt of staff and volunteers with The Readefs resource and support offer and create a hlgh quality, varied Calderstones programme, ensuring all Shared Raading practlC8 & programme delivery is of a consistently high standard. Prlorltles: Ensure a robust and high-quality community of SR Practitioners through TAP, Reader Leader pathway, quallty assurance framework and increasing engagement wlth Support sesslons and reading records. Reach Storybam and Calderslones programme engagement and financial targets. Ensure there Is a hlgh quality 7 day a week Shared reading offer at Calderstones. Us8 our data to better understand our audiences of literary rasources and our visltors at Calderstones. Goal 3) Understand and talk about the Impact of Ilterature and Shared Readlng. ObJe¢tlve- By end of 24125, all stsff members and Calderstones volunteers will b8 able lo confidenlly and authentically talk about Shared Reading and The Reader Prlorftl88: Create shared language and tools for staff and volunteers. Continue to develop and deliver our annual Year of Stories plan, highlighting areas of work. Dig deeper into evaluation findings and develop the story and profile of our impact. Goal 4) Strong Foundatlons Objectlve: To Improv8 th8 connectedness of our people (to our mission. our Impacl, our progress, our finances and each other) in order to work more effectlvely togeth8r to meet our targets and champion the work of The Reader. Prforltles: Commitment to Equity, Diversity and Inclusion Improved staff communicalions Digital transfomalion Robust finances Strong governance Environrnental sustainabllity 11 THE READER ORGANISATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Environmental Pollcy The Reader recognises that its activities impact upon the environment through its routine intemal operations, its infrastructure developmenl, and through it5 influence and effects on the wider community. We take seriously our responsibility for. and our commitrnent to. protection of the environment at all levels. As we work towards a net-zero strate in 2023-2024 somè ke achievements wère.. Changing our Waste Management contract, enabling us to relrieve Recycling Reports every quarter and better take responsibility for improving contamination leve15 through data analysis. leading to more waste being recycled than going to landfill. (for the first time in our organisational history) Implement a new recycling system for our offices. Creating a cullural shift towards recycllng at work and reducing contamination level5. Food caddies are in all of our kitchens, both slaff and commercial, to be dlsposed of in our onsite hot composting facilities. 00 Good To Go" estsblished thus avoiding 8 totsl of 531kg of C02 from 197 Tneals saved from landfill to date. Joined a trSal of Arts Green Book Toolkit, provldlng access to expert knowledge and worklng alongslde other cultural organisations to reach baseline accreditation. Greauy improved our knowledge of 8 realistic carbon journey through Net-zero Consultancy, allowing us to create a set of actions to work towards and highlighting our major carbon contributors. Attending Sustainability Network meelings lo share and build knowledge across a numbèr of departments in the organisation Undertaking a review of all of our commercial suppliers and changed numerous to reduce food miles for deliveries Adapting our menus to US8 local seasonal ingredients to highlight local produce and reduce imported food miles. Planted wildflower meadow In the grounds to encourage blodiverslty and pollinatlon habitsts. Took part in"No Mow May. across the site. Using based packaging across all of our in-house products from Cafes and Ice Cream Parlour. Conllnued our popular Upcycling Group which gives new life to fumiture that was headed to landfill. 12- THE READER ORGANISATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The totsl income in FY2023124 was £4,354,896, an increase from £4.241,373 in 2022123 brought about by an increase in trading income. The net expenditure for the year is £627,237 however the charity incurred depreciation costs of £266,105 in relation to the Storybarn, Mansion House and grant funded fixtures and the associated movements from restricted and designated funds to free reserves resulted in a deficit on charitable activities of £361,042. inclusive of a net loss in the sum of £22,809 from Calderstones Mansion House Cornmunity Interest Company. Prlnclplo Income sources During 2023124 The Reader Organisation's income was split across the following sources.. 280/0 grants and donations for core activitles 28Q/• grant and commissloned delivery of Shared Reading (our prtnclpal charitable activlty) and tralnlng of individuals to undertake Shared Reading 41•/• trading income from our subsldiary, Calderstones Manslon House Community Interest Company 3 /0 event income (principally from the Storybam) <10/. Investment income Reserves Th8 Res8rves now stand at £5,231,451. Reserves include £4,619.362 of restrided fijnds rèlatlng to Cald6rstones Mansion House which is reduced by an associated depreclatlon charge each year and will transfer to a designated fund upon satisfaction of restrictions withln th8 grants. Th8 Group unr8strfcted funds total £612.089. This Includes £257,083 of deslgnated funds. The remaining £355,006 general unrestrlcted funds rèpresents our fre8 reserves. Deslgnated funds Include.. £84,608 that reprèsents expendlture on the Slorybam building which is being released over a 10-ye8r period (the useful economic lif6 of the refurbishments undertaken within the building) £85,583 of designaled funds that represents expenditure on the Mansion House buildlng which is being released over 50 years (the useful economic life of the refurbishments undertaken wilhin the building) £86,892 Calderstones Mansion House slnklng fund. a provislon for future major repalrs to the bulldlng Reserves pollcy The charity's reserves policy is to build up unrestricled reserves sufficient lo enable the charity's core running costs to be continued for a period of three months, but where possible six months, shoul¢J regular funding becoming unobtainable. Three months core njnning costs equales to around £336.426. As of 31 March 2024 Ihe level of unrestricted. undesignated reserves amounts to £355,006 which equates to three months core running costs. Publlc Beneflt Activities provided by The Reader are fvnded by: public sector bodies; charitable trusts,. partner organisation., and donations. Weekly Shared Reading Groups are free at the point of entry and the Programme at Calderstones 15 mixture of paid ticketed events and free community activity. The trustees have paid due regard to guidance published by the Charity Commission on public benefit. 13 THE READER ORGANISATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FUNDERS AND COMMISSIONERS Alder Hey Ghildren's NHS Foundation Trust Arts Council England Barton Moss Secur8 Care Centre Berkshire Heallhcar6 NHS Foundation Trust BDB Pittmans LLP Bury Virtual School NHS Cheshire and Merseyside Integrated Care Board Cheshire West and Chester UK Shared Prosperity Fund (Communilles and Place Grant) City of Doncasler Council Public Health Conwy LibrarEes Dorset Council Librartes Duchy of Lancaster Benevolent Fund Elizabeth L Rathbone Charitable Tnjst Garfield Weston Foundation Hammersmlth & Fulham Libraries and Archlvès Service Haringey Council Hemby Charitablè Trust Hlghway One Trust HMP Kirklevington Grange Prison Her Majesty's Prison and Probation Service Jewish Care John Lewis and Partners Liverpool Livv Housing Liverpool Virtual School Masonic Charitable Foundation West Lancashire Freema50ns Welsh Govemment National Library of Wales National Literacy Trust Greater Manchester Integraled Care Board Northern Ireland Public Health Agency Notting Hill Genesis Players of People's Postcode Lottery Royal Llverpool and Broadgreen University Hospital Trust Rlchmond Integrated Card Board Sandwell and West Birmingham Hospltals NHS Trust Sefton Council UK Prosperity Fund Sefton Virtual School Segelman Trust Somerset Council Adult Soclal Care Croydon Relief In Need The Granada Foundation The National Lottery Community Fund The National Lottery Heritage Fund The Rayne Foundation The Swire Charitable Trust Sl Giles Trust University of Bristol Unwin Charitable Trusl Warringlon and Halton Hospitals NHS Foundation Trust Wirral Borough of Culture Woodchurch High School Individuals and Groups= Knit and Natter at Calderstones Thanks lo our community of Individual donors for their vital support in helping to make Shared Reading accessible to all. 14- THE READER ORGANISATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investment Power and Policy Under the Memorandum and Articles of Association. the charity ha5 the power to invest in any lawful way the trustees wish. after having obtained such advice from a financial expert as the trustees consider necessary having regard lo the suitability of investments and the need for diversification. All reserves are held in deposit accounts and no investments were made during the year. Rlsk Revlèw The Reader Is committed to sound business practice and the embedding of risk management into the organisation's culture. Both the Reader and the Calderstones Mansion House CIC have risk registers that are used to gain a comprehensive view of the work of the organisations, and reveals strengths and opportunities as well as weaknesses. Risk assessments involve staff from across the organisalion and the formal risk registers are revlewed by the Audit Committee at each meeting, with high level risks bèlng revSew8d by lh8 Board. Th8 register details the steps and pro¢eduras In place to mlugate the risks. The trustees havè assessed the major risks to which the charity 15 exposed, and are satlsfled that systems are In pla¢8 to mitigate exposure to the major risks. 15- THE READER ORGANISATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structure, governance and management The Reader Organisation is a registered charity and also a company limiled by guarantee. It is governed by its Memorandum and Articles of Association that were updated and adopted on the 13th November 2017. The charity is govemed by a Board of Trustees which must be made up of betsveen three and ￿e1ve individuals. The board meets four tirnes a year. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mrs AS Marsland MBE (Chalr) Mr H Biddell Dr R M HLtssey CB,OBE,DL Mr P L Davies MrPKSood Mrs S Fletcher Dr H Willows Mr O Alake Mr Nl Atklnson The company secretary Is Jennifer Martin. None of the trustees has any beneficial inler6St in the company. All of the tTUStees are members of the company and guarantee to contribute th9 sum not exceeding £10 in the event of a winding up. Trustees Recrultment, Inductlon and Tralnlng When a trustee vacancy arfses a recruitment process including advertisemgnt, applicatlon and Interview as necessary Is overseen by the nominations committee In Ilne with good practice guidance. The Reader has designed a comprehensive induction for new TTUSt8es that Includes but Is not limited to: A briéfing from the Chair Meeting with other Tnjstees Meeting with each of the Oirectors, Group Shared Reading with Directors, Group Meeting as many Reader staff as possible at the first opportunity This programme of meetings is acGompanied by an induction pack that includes useful papers such as: The Readels Business Plan Copies of previous Board minutes The Reader's Memorandum and Artides of Assoclallon Charity Commission guidance 'Being a Trustee, and 'The Essential Trustee: What you need to know, Awelcome letter from the Chair Trustee role description Latest annual report and final accounts Vision, mission and key facts Information on Kinflirt of interests 16- THE READER ORGANISATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A Committee structure is in place to support the Trustees in ensuring good govemance. During the financial year there have been Committees in operation: li) theAudit Committee, which oversees governance and rtsk (ill the Nominations Committee which oversees Trustee appointments. The Calderstones Mansion House CIC has its own Board of seven Directors. There are four members of The Reader Board who sit on the Calderstones CIC Board of Directors. Minutes ofthe CIC Board are submitted to The Reader Board as parent company. The Audit Committee overse8S the work of Calderslones Mansion House CIC as well as The Reader. The Trustees have appointed an Executive Director to managè the day-t¢>day operations of the charfty. Senlor Stsff Remuneratlon The Reader pays salaries according to a salary band system. Bandlng is based on the responsibilities attached to roles. One member of staff receSved remuneration over £60.000 in the financial year. Staff and Volunteers The trustees acknowledge the commitm8nt and dedication of the charity's staff and volunteers which has been critical to the success of the organisation over the course of the year. Without the generosity of thèse people, who regularly go above and beyond what is asked of them, The R8ader would not have reached as many people or helped change as many Ilves. Audltor At the Annual General Meeting in November 2016 it was agreed that a tender exercise should be undertaken for the appolntment ofAuditors to ensure value for monay was belng achieved for the Charity. This resulted in McLintocks (now Xeinadin Audlt Llmlted) being appointed by special resolulion of the Board of Directors in May 2017. Th8 Board undertook a further tender exercise in 2021 whlch resulted In McLlnlocks (now Xeinadin Audit Limited) being r&appointed at the rneeting Sn Seplember 2021 for a three year period with review by the Audit Committee each year and option to extend to a five year period. Dlsclosure of Infomiatlon to auditor Each of the Iruslees has ¢onfimed that there is no infomiatlon of which they are aware which Is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to Identlfy such relevant infomiation and to establish that th8 auditor is aware of such infomiation. The Truslees, report was approved by the Board of Trustees. Mrs A S Marsland MBE (Chalr) Dated: 21 November 2024 17- THE READER ORGANISATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of The Reader Organisation for the purpose of company law, are responsible for preparlng 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that year. In preparing these financial statements, the trustees are required lo.. select suitable accounting policies and then apply thèm consistentty., observe the methods and principles in the Charities SORP; make judgemgnts and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, Subject to any material departurès dlsclosed and explained in the financial statèments., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustee5 are responslbl8 for keeping adequate accounling records that disclose wilh reasonable accuracy at any time the financial position of the charity and enablè them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts {ScDtland} Regulations 2006 la5 arnendedl. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable st8ps for the prevention and detection of fraud and other irregularilies, 18- THE READER ORGANISATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE READER ORGANISATION Oplnlon We have audited the financial statement5 of The Reader Organisation {the 'charity') and it's subsidiary for the year ended 31 March 2024 which comprise the consolidated statement of financial activitie5, the consolidaled and charity balance sheet, the consolidaled statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepubliG of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements., give a true and fair view of the state of the group and charilable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with thè requirements of the Companies Act 2006, Ihe Charities and Trustee Investment (Scotland) Ad 2005 and regulation 8 of the Charilies Accounts (Scotland) Regulations 2006 las amended). Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Audillng {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilors responsibilities for the audit of lh8 financial statements section of our report. We are ind8pendent of the charity in accordanc8 Wlth Ihe ethical requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and w8 have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that Ihe audit evidence we have obtslned Is sufficlenl and approprfate to provlde a basls for our opinion. Concluslons relatlng to golng concern In auditing the financlal statemants, we have conduded that Ihe Trustees, use of the going concem b8Sis of accounting in the preparailon of the financial statements is appropriate. Based on the work we have perfomièd, we have not identified any material uncertainties relating to events or conditions that, Indivldually or collectiveSy, may cast significant doubt on the charity's ability to continue as a golng concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trusteès with respecl to golng conc8m are described In the relevant sections of this report. Other Infomiatlon The other Information comprises the infomiation included in the annual report other than the financial statements and our auditols report thereon. The trustees are responslble for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explic1￿Y stated In our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other infomiatlon and. In doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of Ihe audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparenl material misstatements, we are required to determine whether Ihis gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfomied, we condude that there 15 a material misstatement of thi5 other infornalion. we are required to report that facl. We have nothing to report in this regard. 19- THE READER ORGANISATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF THE READER ORGANISATION Opinions on other matters prescribed by the Companie5 Act 2006 In our opinion. based on the work undertaken in the course of our audit.. the information given in the Trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial slalements. and the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are requirod to report by exceptlon In the light of the knowledge and understanding of the group and chartty and its environment obtained in the course of the audit, we have not identified malerial misstatements in the directors. report included within the Trustees, report. We have nothing to report in resp8Ct of the following matt8rs in relation to which the Companies Act 2006 and the Charities Accounts {ScoUandl Regulations 2006 {as amended) require u5 to report to you if, in our opinion: adequate and proper accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns. or certaln dlsclosures of trustees. rèmuneration specified by law arè not made; or W8 have not received all the infomiation and explanations we require for our audit- or the trustees were not entitled to prepare the financlal slalements in accordan¢e wlth the small companles regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requlrement to prepare a strateglc report. Responslbllltle5 of trustees As explained mor8 fully in the statement of Trustees, responsibilities. the trustees, who are also the directors of the charlty for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they glve a true and fair view. and for such Intemal control as the Irustees detemlne Is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal slatements, the trustees are r8sponslble for assessing the group and charfty's ablllty to onlinue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the tnjstees either intend to IIqLtidat8 th8 charilable company or to cease operatsons, or have no realistic alternative but to do so. Audltor's responsibilities for the audlt of the financlal statements We have been appointed as aL¢ditor under section 44(1){c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement, 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 alway5 delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered malerial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basls of these financial statements. The extent to which our procedures are capable of detecting Irregularities, induding fraud. is detailed below. 20- THE READER ORGANISATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF THE READER ORGANISATION Extent to whlch the audlt was consldered capable of detecting irregularities, including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularitles. Including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the group through discussions with trustees and other rnanagement, and from our knowledge and 8xperience of charity sector; we focused on speclfic laws and regulations which we consldered Tnay have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, Charities Act 2011, data protection. anti-bribery, employment, food hygiene and health and safely legislation: we as585sed the extent of compliance with the laws and regulations identified above through meking enquiries of management team and inspecting legal correspondence., and identified laws and regulations were ¢OTnmuni¢ated within the audit team regularly and the team remained alert to instances of non- compliance throughout the audit. We assessed Ihe susceptibility of the group's financl81 ststements to materfal mlsst8temenl, includlng obtaining an understanding of how fraud might occur, by: rnaklng enqulrles of management leam as to where they consldered ther8 was susceptibility io fraud, th8lr knowledge of actual, suspected and alleged fraud,. and considering the Intemal ¢ontrols In plac8 to mltlgate rfsks of fraud and non-compliance wlth laws and regulations. To address the risk of fraud through management bias and override of controls. we: performed analytical procedures to Identlfy any unusual or un8xpect8d relatlonshlps,, tested joumal entrles to Identlfy unusual transactlons., assessed whether judgements and assumptions made In determlnlng the accounting estimates were indicative of potential bias- and investigated the rationale behlnd slgnlficant or unusual transactlons. In response to the risk of irregularities and non-complSance with laws and regulations. we designed procedures which included, bul were not Ilmited to.. agreeing financial statern8nt disdosures to undertying supporting documentstion: enquiring of management as to actual and potential litigation and claims. and reviewing correspondence with HMRC and relevant regulators. There are inherent limitatlons In our audit procedures descrfbed above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit thè audit procedures required to idenlify non-compliance with laws and regulations to enquiry of the direclors and other management and the inspection of regulatory and legal correspondence, if any. Materfal mlsstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A fijrther description of our responsibilitles is available on the Flnancial Reporting Council's website at: https'.11 www.frc.org.uklauditorsresponsibililies. This description forms part of our auditofs report. 21 THE READER ORGANISATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF THE READER ORGANISATION Use of our report This report is made solely to the charitable company's rnembers, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we mighl state to the charitable company's members and trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charilable company's members as a body,and the charitable company's trustees as a body. for our audit work, for this report, or for the opinion5 we have formed. Helen Furlong FCCA (Sen or Statutory Audltor) for and on behalf of Xelnadln Audlt Llmlted 21 November 2024 Statutory Audltor 46 Hamilton Square Birkenhead Wirral Merseyside CH415AR -22- THE READER ORGANISATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrfcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 1,209.165 947.131 1,800,694 7,410 680 8.646 1,217,811 381.170 1.328.301 1.800,694 7,410 680 1,435.503 783.133 1,471,576 2,091 5.214 225 543,631 1.435.728 1,326,764 1,471,576 2,091 5,214 Total Income 3.965.080 389,816 4.354.896 3,697,517 543,856 4.241,373 endlture on: Raising funds 1.750,563 1.750,563 1,439,377 1,439,377 Charitable activities 2,841,754 389,816 3,231,570 2,928,916 543,856 3.472.772 Total resources expended 4,592,317 389,816 4,982,133 4,368,293 543,856 4.912.149 Net outgolng resources bèfore transfers (627,237) (627,237) (670,776) (670,776) Gross transfers betsveen funds 205,660 (205,660) 205,732 {205,732) Net expendlture for the yearl Net movement In funds (421.577) (205.660) (627,237) (465,044) {205,732} (670,776) Fund balances at 1 Aprfl 2023 1.033,666 4,825.022 5.858,688 1,498,962 5,030,754 6,529.716 Fund balances at 31 March 2024 612.089 4,619,362 5,231,451 1,033,918 4,825,022 5.858,940 The statemènt of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitles. The statement of financlal activitles also complies with the requirements for an incorne and expenditure account under the Companies Act 2006. -23- THE READER ORGANISATION CONSOLIDATED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand 15 4.795,067 5,081,355 17 18 29,085 292,545 1,113.776 28,227 327,119 1,196,246 1.435.406 1.551,592 Creditors: amounts falling due withln one year 21 1999.022) (774,007) Net current assets 436,384 777,585 Total assets less current Ilabllltles 5,231,451 5,858,940 Income funds Restricted funds Unrestricted funds 26 28 4,619,362 612,089 4,825,022 1,033,918 5,231,451 5,858,940 The financlal statements were approved by the Trustees on 21 November 2024 Mrs A S Marsland MBE (Chair) Trusteo Company Registration No. 06607389 -24- THE READER ORGANISATION CHARITY BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assèts Tangible assets Investments 15 16 4,795,067 5,081,355 4,795,068 5,081,356 Current assets Debtors falling due withln one year Cash at bank and in hand 19 266,693 973,742 554,981 776,570 1,240.435 1,331,551 Credltors: amounts falllng due wlthln one year 22 1757.847) (530,824) Net current assets 482,588 800,727 Total assets less current Ilabllltles 5.277,656 6,486,757 Income funds Restrlcted funds Unrestrlcted funds 26 29 4,619,362 658.294 4,825,021 1,057,062 5.277.656 5,882,083 The financial statements were approved by the Trustees on 21 November 2024 Mrs A S Marsland MBE (Chair) Tru5tèa Company Reglstratlon No. 06607389 -25- THE READER ORGANISATION CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activitles Cash absorbed by operations (84,853) (459,562) Investlng actlvltles Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Interest received (9,542) (38,878) 4,515 7,410 3,630 2,091 Net cash generated froml(used In) Investlng actlvltles 2,383 (33.157) Flnanclng actlvltle5 Net cash used In flnanclng actlvltles Net decrease In cash and cash equlvalents 182,470) (492,719) Cash and cash 8quivalents at beglnnlng of year 1,196,246 1,688,965 Cash and cash equlvalents at end of year 1.113,776 1,196,246 -26- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity Inforniatlon The Reader Organisation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Mansion House, Calderstones Park, Liverpool, Merseyside, L18 3JB. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association. the Cornpanies Act 2006, the Charities and Trustee Investment (sCo￿and) Acl 2005, Ihè Charities Accounts (Scotlandl Regulations 2006 (as amended), FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102.1 and the Charities SORP'Accounting and R8POrting by Charrtie5'. 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 charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared In sterfing, whlch Is the fijncllonal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The prfnclpal accounting policies adopted are set out below. The charitable company is a qualifying entity for thg purposes of FRS 102, being a member of a group where the parent of that group prèparès publicly available consolidaled financial statements, Including this company. which are Intended to gSv8 a true and fair view of the assets. liabilities, financial position and profil or loss of the group. The charitable company has therefore taken advantage of exemptions from the following disclosure requirements for parent company Infomiatlon presented wlthln the consolldated financial statements: Section 7 'Statement of Cash Flows,: Presenlatlon of a stat8ment of cash flow and r8lat8d notès and dlsclosures., Section 11 '8asic Financial Instruments. and Sacllon 12 '0th8r Flnancial Instnjmant Issuès.: Carrying afflounts, interest incomelexpense and net gainsAosses for each category of financial instrument: basis of determining fair values., details of collateral, loan defaults or breaches, details of hedges. hedging fair value changes recognised in profit or loss and In other comprehenslv8 Income Section 33 'Ralatèd Party Disclosures,: Comp8nsatSon for key management P8rsonn81. 1.2 Golng concern At the time of approving the financial ststements, the trustees have a reasorbable expectation that the company has adequale resources to continue In operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charitable objectives unles5 the funds have been designated for other purposes. Restrtcted funds are subject to specific conditions by donors as to how they may be used. The purpose5 and uses of the restricted funds are set out in the notes to the financial statements.Restrictions arise when specified by the donor or whèn funds ar6 raised for particular restricled purpose5. The purposes and uses of the restricted funds arè set out in the notes to the accounts. 1.4 Income Income is recognised when the charity is legally entitled to it after any Performan￿ conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. -27- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued) Voluntary income indude donations which are accounted for as received by the charity. These item5 are recognised where Ihere is entitlement, certainty of receipt and the amount can be measured with sufficient reliability, Such income is only deferred when: The donor specifies that the grant or donation must only be used in future accounting years; or The donor has imposed conditions which must b8 met before the charlty has unconditional settlement. Investment Income relates to bank interest receivable. Income from charftable activities includes income received under contract or where entitlement to grant funding Ss subject to specific performance conditions and Is recognised as earned a5 th8 related goods or services are provided. Grant income included wlthln this category provides funding to advance the educatlon of the publlc In readSng and the appreciation of Ilterature. Grants raceived In advance of the period In whlch the funder requires the expendlture to be appliéd wlll be reflected In deferred income wlthln the balance sheet. Income from th8 trading subsidiary tumover represents amounts received and recelvable for goods supplled lex¢luding value added tax an voluntary gratuities left by customers for the benefit of employ88s) and is recognlsed at the point of sale. 1.5 Expendltura Expenditure is recognlsed onc8 there Is a legal or con5tructlve obllgatlon to transfer econornlc benefit to a third paty. it is probable that a transfer of economlc benefits wlll b8 r8qulred In settlement, and the amount of the obligatlon can be measured reliably. Expenditure is classified by activity. The costs of each activlty are made up of the total of dirèct costs and shar8d costs, including support costs involved in undertaking each activlty. DSrect costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one a¢tlvlly and support cosls whlch are not attribuiable to a single activity are apportioned be￿een those activlties on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure Is recognised when a Ilabillty Is Incurred. Charitable activitles expenditure indude5 both dlrect costs and support costs relating to thèse activitles. Govemance costs include those incurred in the govemance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Support costs indude central fundions and hav8 been allocated to activities on a basis consistent with the use of resources. -28- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnuedl 1.6 Tangible fixed assets Tangible fixed assels are initially measured at cost and subsequenuy measured at cost or valuation, net of depreciation and any impainnent losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over thalr useful Ilvès on the followlng bases.. Leasehold improvements Over a perlod of 10 years. Mansion house refurbishment over 50 years Over a period of 3 years. Leasehold fit out over 10 years Over a period of 3 years Fixtures and fittings Computers The gain or loss arising on the disposal of an asset is determlned as the difference betwe8n the sale proceeds and the carylng value of the asset, and is recognised in the statement of financial actlvlties. All assets costlng more than £1,500 are capilalised at cost. -29- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Contlnued) 1.7 Flxed asset investments Fixed asset investmenls are initlally measured at transaotion price excluding transaction costs, and are subsequenuy measured at fair value at each reporting dale. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as inGurred. A subsidiary is an entity controlled by the charity. Control Is the power to govem th8 financlal and operating policies of the entity so as to obtain benefits from Its activities. 1.8 Impalrment of fixed assets At each reporting end dale, the charity reviews the carying amounts of its tangible assets to determine whether there is any indlcallon that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimated in order to deterrnine the extent of the impairment loss lif any). 1.9 stocks Stocks are valued at the lower of cost and net reallsable value, after making due allowance for obsolete and slow movlng items. Net realisab18 value is Ihe estimated selling prfce less all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investrnents with original maturities of Ihree months or less, and bank overdrafts. Bank overdrafts ar6 shown within bO￿Ow1ngS in current liabilities. 1.11 Flnanclal Instruments The charity has elected to apply th8 provlsions of Section 11 'Basic Financial Instruments, and Section 12 'Oth8r Financial Instnjments Issues, of FRS 102 to all of its financial instruments. Financial Instruments are recognlsed In the Charitys balanc8 sheet when the charity becomes party to the contractual provlslons of the InstrumenL Financlal assets and liabilities are offset, with the nèt amounts presented In the financlal slatements. when Ihere is a18gally enforcèablè right to set off the recognised amounts and there is an intention to settle on a net basls or to realis8 the assel and settle the liability simultaneously. Baslc flnan¢lal assets Basic financial assets, which Include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective inlerest method unless the a￿angement constitutes a financing transaction, where the transaction Is measured at the present value of thé future receipts discount8d al a market rate of interest. Financial assets classified as r8C8ivable withln one year are not amortised. -30- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnuedl Basic financial liabllities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaclion, where the debl inslrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt Instruments are subsequently carried at amortlsed cost, uslng the effectlve Snterest rate method. Trade creditors are obligations to Pay for goods or servlcès that have been acqulred 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 nol, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured at amortlS8d ¢ost using th8 8ff8CtiV8 interesl method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are der8¢ognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period In whlch the employee's services are recelved. Termination benefits are recognlsed immediately as an expense when the charity Is demonstrably committed to temiinate the employment of an employee or to provlde temiinallon benefits. 1.13 Retlrement beneflts Payments to defined contribution retiram8nt b8nefit schemes are charged as an expense as they fall due. 1.14 Consolldatlon The group financlal statements consolidate the financial statements of The Reader Organisation and its subsidiary Calderstones Mansion House CIC. drawn up to 31 March 2024. The results of the subsSdlary are consolldated for th8 perlod from the date on whlch control passed. Business comblnallons are accounted for under th8 purcha58 method. Wh8r8 necessary, adjustments are made to the financial statements of the subsldiary to bring the accounting policies used into line with those used by the parent charitable company. All intra-group transaction5, balance5, income and expenses are eliminated on consolidation. Advantage is being taken of Section 408 of the Companies Act 2006 not to present the Parènt Company's Statement of Financial Activities including Income and Expenditure Account. crftlcal accountlng estlmates and Judgemonts In the application of the charity's accounting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent frorn other sources. The estimates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 31 THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacie5 Unrestrlcted Restrlcted funds funds Total Unrestrlcted funds Restricted funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Grants receivable for core activities 14.109 225 14,334 28,940 28,940 1.178,220 1.178,220 1,123,693 1,123,693 1,209,165 8,646 1,217,811 1,152,633 1,152,633 Unrestrlcted Réstrlcted funds funds Total Unrestrl¢ted funds Restricted funds Tolal 2024 2024 2024 2023 2023 2023 Grants recelvable for core actlvltles Esmee Fairbaim Foundatlon Arts Council England National Portfolio Office People's Postcode Lottèry CJRS grant Tudor Trust 25.933 25,933 178,220 178.220 178,220 178,220 1.000.000 1,000,000 879,072 468 40.000 879,072 468 40,000 1,178,220 1,178,220 1,123,693 1,123,693 -32- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Sharnd rèadlng 2024 Storybarn Total 2024 Shar&d r•adlng 2023 Storybam Totsl 2023 2024 2023 Commissions & Training Grants Events income 816,883 381,170 28,175 816,883 381,170 130.248 674,410 543,631 14.725 674,410 543,631 108,723 102.073 93,998 1.226,228 102.073 1,328,301 1,232,766 93,998 1,326,764 Analysis by fund Unrestricted funds Restrfcted funds 845,058 381,170 102.073 947,131 381,170 689.135 543.631 93,998 783,133 543.631 1,226,228 102,073 1,328,301 1,232,766 93,998 1.326,764 Grants related to charltablè actSvltl88 The Garfield Weston Foundation Knowsl6y CCG National Lottery Community Fund Natlonal Lottery Heritage Fund Reading Retreat City Bridge Cheshire West & Cheshire UK Shared Prosperity Fund The Rayne Foundation Steve Morgan Foundation and the Department for Digitsl, Culture, Modia & Sport St Monica's Trust Community Impact Somerset County Council Masonic Charitable Foundation Unwin Charitable Trust The Charity of Slr Richard Whittington Others 45,833 18,355 45,833 18,355 18,030 18.030 25,000 25,000 103,460 4,895 103,460 4,895 119,700 26,555 25,457 119,700 26.555 25.457 15,966 17,500 15,966 17,500 6,666 6,666 248,917 248,917 9,085 33.051 9,085 33,051 24,371 24,371 11,199 60,000 11,199 60,000 30.000 30,000 6.432 26.404 6,432 26,404 47,925 47,925 381,170 381,170 543.631 543,631 -33- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other tradlng activities Unrestrlcted Unrestrlcted funds funds 2024 2023 Cafe.ic&cream partour and other income 1,800,694 1,471,576 Income from investments Unrestrlcted Unrèstrlcted funds funds 2024 2023 Interest recelvable 7,410 2,091 Other Income Unrestrlcted Unrestrlcted funds funds 2024 2023 Net gain on disposal oftsngible fixed assets Insurance claim 680 5,214 680 5,214 Raising funds Unrestrlcted Unrestrlcted funds funds 2024 2023 Tradin costs Operating cosls other staff costs Staff costs 800.135 1.323 949.105 742.315 2,607 694,455 Trading costs 1.750.563 1.439,377 THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actlvltles Shared Storybarn readlng 2024 Total 2024 Shared Storybarn rèadlng 2023 Total 2023 2024 2023 Stsff costs Deprèciatlon and impaimient Other expenditure 1,834,393 110,750 1,945,143 2,080,548 110,286 2.190.834 44,527 22.791 44,527 398,295 44,528 25,072 44,528 388.518 375,504 363,446 2,209,897 178,068 2,387,965 2,443,994 179,886 2,623,880 Share of support costs (See note 10) Share of govemance costs (see note 10) 759,416 66,036 825,452 776,881 58,475 835.356 17,251 902 18,153 12,589 13.536 2,986,564 245.006 3,231,570 3,233,464 239,308 3.472.772 Analysls by fund Unr8slricted funds Restrlcted funds 2.596,748 389,816 245,006 2.841,754 2,689,608 389,816 543,856 239,308 2.928.916 543,856 2,986,564 245,006 3.231,570 3,233.464 239,308 3.472.772 10 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Staff cosls Depreciation Other costs 345,447 247,467 232.538 345,447 247,467 232,538 371,383 248,152 215,821 371,383 248,152 215.821 Audlt fees Accountancy Trustee expenses 10,050 7,638 465 10,050 7,638 465 9,563 3,187 786 9,563 3,187 786 825,452 18,153 843,604 835,356 13,536 848.892 Analysed between Charilable activities 825,452 18,153 843,605 835,356 13.536 848.892 -35- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees The average monthly number of employees durlng the year was: 2024 Number 2023 Number Shared Readlng Support Services Storybam Caldarstones Mansion House CIC 97 10 13 61 99 10 13 53 Total 181 175 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 2,910.578 194,076 135.041 2.889,912 217,442 149,318 3,239,695 3,256,672 Retlrèment beneflt schemes The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an Independenuy administered fund. The charge to the statement of financial activitie5 in respect of defined contrlbutlon schemes was £135,041 12023: £149,318). There were outstandlng contributions in respect of defined contrlbution schemes at 31 March 2024 of £18,596 12023: £NIL). There were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows-. 2024 2023 Aggregate compensation 381,570 429.066 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. -36- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Trustees None of the trustees received any remuneration during either the current or prévious year, and trustees were reimbursed £465 for travelling expenses (2023.. £786). 14 Calderstones Mansion House CIC A summary ofthe results of the subsidiary is shown below.. 2024 2023 Income Expenditure 1.732,339 (1,755,148) 1.420,481 (1.443,877) (22,809) {23,3961 Aggregat8 assets and Ilabllltles Current asset5 Current liabilities 268,178 (314,382) 480.147 (503.542) {46,204) (23.395) 15 Tanglblè flxed assets - Group and Company L•asvhold Flxtures and Improv•ment8 fittlngs Comput•r¥ Total Cost Al 1 April 2023 Additions Disposals 4,915,912 1,343,200 40,884 6,257 3,285 (18,241) (12,694) 6,299.996 9.542 {30.935} At 31 March 2024 4,915,912 1,331,216 31,475 6.278,603 Depreclatlon and Impalmient At 1 April 2023 Depreciation charged In the year Eliminated in respect of disposals 645,094 134,143 537,716 153,822 (14,406) 35.831 4.030 (12,6941 1.218,641 291,995 (27,100) At 31 March 2024 779,237 677,132 27,167 1,483,536 Carrylng amount At 31 March 2024 4,136,675 654,084 4,308 4,795,067 At 31 March 2023 4.270,817 805,484 5,054 5,081,355 -37- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Fixed asset Investments- Group undertakings The charity owns the whole oflhe issued share capital of the lollowing subsidary undertaking whioh is registered in England and has the same registered office as the charity. Subsidia Calderstones Mansion House CIC Princi 81 actlvi Restaurants and cafes The carying value of the Investment in the financial statements is £1 (2023'.£1). 17 Stocks- Group 2024 2023 Goods for resale 29,085 28,227 18 Debtors - Group 2024 2023 Amounts falllng due wlthln onè year: Trade debtors Other debtors Prepayments and accrued income 117,121 53,378 122,046 132,860 32,091 162,168 292,545 327,119 19 Debtors- Charlty 2024 2023 Amounts falllng due wlthln one yéar: Trade debtors Amounts owed by subsldiary undertakings other debtors Prepayments and accrued Income 44,432 73,206 34,106 114,949 107,704 260,106 32,091 155,080 266.693 554,981 20 Retlrement beneflt schemes 2024 2023 Deflned contrlbutlon schemes Charge to profit or10ss in respect of defined contributlon schemes 135,041 149.318 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of Ihe scheme are held separately from those of the charity in an independenlly administered fund. -38- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Creditors: amounts falllng due within one year- Group 2024 2023 Notes Other laxatlon and soclal security Deferred income Trade creditors Other creditors A¢cruals 100.321 735.801 101.990 23,003 37.907 50.435 561.809 127,922 4,057 29,784 23 999,022 774,007 22 Credltors:amounts falllng due wlthln onè year- Charlty 2024 2023 Notes Other laxation and social security Deferred income Trade creditors Other creditors Accruals and defe￿ed Incom8 50,305 599.730 68.423 20.545 18.844 24 433,334 82,147 2,202 13,141 757,847 530,824 23 Deferred Income - Group 2024 2023 Other d8f8rr8d income 735,801 561,809 Deferred income is included in the financial ststements as follows: 2024 2023 Balance at 1 April 2023 Amounts received in year Amounts credited to statement of financial activities 561,809 1,111,043 2,276.187 1.674.109 {2,102.1951 (2.073.777) Balance at 31 March 2024 735,801 561.809 -39- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Deferred Income- Charity 2024 2023 Other deferred income 599,730 433,334 Deferred income is included in the financial statements as follows: 2024 2023 Balance al 1 April 2023 Amounts recaived in year Amounts crediled to stalement of financlal activltles 433,334 1,085.090 2,008,193 1,602,964 {1,841,7971 (2,035,086) Balance at 31 March 2024 599,730 653,846 25 Related party transactlons There were no disdosab16 related party transactions during the year {2023- £1,600). 26 Company Ilmlted by guarantee The charitable company Is Ilmlted by guarantee and has no share capitsl. Every member of the charity undertakes to contribute lo the assets of the charity in the event of belng wound up whlle he or she is a member or within one year of ceasing to be a member for debts and liabilities of the charity contracted before he or she ceases to be a member, such amounts as may be required not exceeding £10. -40- cn4n iU)(n n4lJXG)nu)o CX+ C# 00)ooAcn(Tr ¥&AOOLnwooa> aj (0 ¢3J 00￿ I CO o) u¥ rD f o o) ts) co CJ cn co 0>00 ts) o o) 04T CLZ n QI J J4iiJinz*G) oc 3Qc n ¢n QI ? THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 30 Analysis of net assets between funds - Group Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represented by: Tangible assets Current assetsl(liabillties) 97,073 4,697,994 4,795,067 436,384 436.384 256,333 4,825.022 5,081,355 777,585 777,585 533,457 4.697,994 5,231,451 1.033,918 4.825,022 5,858,940 31 Analysls of net assots between funds - Charlty Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestrlctèd Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are reprèsented by: Tangible assets Investments Current assetsl{liabilities) 97,073 4.697,994 4.795.067 256,334 4,825,021 5,081,355 482,588 482.588 800,727 800,727 579,662 4.697,994 5,277.656 1,057,062 4.825,021 5,882,083 -46- THE READER ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 32 Operatlng lease commitments At the reporting end date Ihe charity had outstsnding commitments for future minimum lease payfflents under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Be￿een two and five years In over five years 27,642 110,568 3,178,830 52,838 154,568 2,957,694 3,317,040 3,165,100 33 Analysls of changes In net funds The charity had no material debt during the year. 34 Cash ganerated from operatlons 2024 2023 D8ficit for the year (627,237) (670,776) Adjustments for. Investment Income recognised In statement of financlal activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets (7,4101 (6801 291,995 (2,091) 292,679 Movements In working capital: Ilncrease) in stocks Decrease in debtors Increasel{decrease) in creditors Increasel(decreas8) In deferred Income (858> 34,574 50,771 173,992 (6,179) 139,054 (62,682) (149,567) Cash absorbed by operatlons (84,853) (459,562) -47-