Company registration number.. 08895421 Charity registration number". 1130309 and SC041036 Read for Good IA company limited by guarantee) Annual Rèport and Flnancial Statwnants for the Year Ended 31 August 2024 Read for Good Contents Reference and AdministratNe Details Trustee5' Report 2to 11 Independent Auditors, Report 12to15 Statement ol Finanaal Ac￿"￿￿"09 16 Balance Sheet 17 Statement ol Cash Flows 18 Notès to tha Financial Statarnents 19to27 Read for Good Reference and Admlnlstratlve Detalls Chalr Ms Siobhain Whit Chlef Executlve Offl¢er Ms Justine Daniels Charfty R•9l$tratlon Number 1130309 and SC041036 Company Regi?tration Number 08895421 The chalty is incorporated in United Kingdom. R8gister8d Office 26 Nailswtsrth Mills Avening Road Nailsworth GIoU￿sterShIre GL6 OBS Prln¢lpal Office 26 Nailsworth Mills Avening Road Nailsworth GIoU￿stershIrè GL6 OBS Audltor Haz￿wo0ds LLP Staverton Court staverton Cheltenham GL51 OUX 8ank•Fs Co-operative Bank 1 Balloon Street Manchester M60 4EP Page 1 Read for Good Trustees, Report The twstees. who a￿ direclors for th8 purpose5 of company law. present the annu81 rèptsrt together with the financial statements an¢Y auditors, report of the charitable company for the year ended 31 August 2024. Trustees and ofFi¢er The trustses and Offi￿r$ serving during the year and since the y&ar end were 8$ follows". Trustees.. Ms Ann8 Everall Mr Stephen Morgan (resigned 20 October 20231 Ms Hel•n W&st Ms Rachel Bolton Ms Paula Regan Mr K8vin Underwo(yJ Ir&51gn8d 10 May 20241 MS Amanda Shields Ms Emma Bessent (appointed 2 January 20241 Ms Siobhain Whity (appointed 2 January 2024} In Shaping our objectives for the year and planning QUT acty'vitres. the trustees have ¢on31dered thg Charity Comrnission's guidan￿ on public benefit. Why r•ading matters Read for Good wonls all thildren to dgvglop a lifr-changing love of raading for a rnorè equal soclety. Chilclren and young people who choosg to read in their spare time are more likely to have irnproved life Chan￿5, regard1È5s of socio-èconomic background. They are more likely to enjoy academic success, getjobs they love and lead happier fulfil￿d lives. Whilst in the UK children's readin9 skills a￿ improwng, their enjoyment of reading continues lo be in worrying decline. Pargnls, grandparents and carars arè spending 18ss timè shaiing book5 and stones with their children., and children and young people are spending les5 tsme reading thern5elves. In paralld, the UK is facing a burgeoning rnental health cri5iS- With NHS England reporting that 20.3% of eight to 16-year-olds had a probablè mental disorder 2023. Research shows that reading for pleasur6, whilst not an attemab.ve to ther8py and treatrnent, can provide young people with tools and life skills to support their mental health and well-being in the long lerrn. Our work in hospitals highlights the power books and stories can have during times ol anxiety and stress- providing di5tiaction and comfort, buiklifKJ empathy and understanding, bringing an oasi5 01 calm and an esca￿ from the 8V8ry day Rewj for Good's programmes deliver three vital components to support children and young people in ch005ing to read. Firstly, they must have aetsss to a wide and wbrant ehtsice of brand new bwks- books and stories In which they can see andlearn aboul th8mselv8S, Otheis and the worfd around them. Secondty, childrèn must foel ernpowered and confident to choose what to read In their spare knrne. fr8e trorn judgement. And finally. given the many distractions available, children may need some external motivation and encouragement lo spend their time reading. l of Read for Good's prograrnmes are designed to provide children and young people with A¢c95s, Ch￿Ce and Inspiration lo larAlitate and encourage them to spend lirne ￿ading. Pagè 2 Read for Good Trustees. Report Tr14)w Raad lor Good make8 a dÈfferen¢e Autumn 2023 saw the launch of Read lor Good's fi￿Y￿ar strategy. Th& stratégy draws on our decad&s ol expenence working in 5chool$ and hospitals, a Gomprehensive review of the curret7t provision and evaluation of existy'ng programmes. We have set an ambitious laTget to reach one million children and young people annually through our programmes by 2028. Our work is undarpnnèd by Six core principles.. Read￿ng for pleasure can change a chikl's fvture All reading should bè valued Children must see thems8lv8s in books Reading lor pl8a5ur8 should b8 undirected and una5sessed Rewards can i9nite a love ol reading L15tening to stories is as beneficial 85 reading To support this. we have developed a Theory of Change INw.readforgood.orgltheory-of-changel PTowding a framework for monitoring and evaluation which will ￿able us to deliver effective programmes that bring about ehange. As we reach thg end of the first year of our five-year strategy. we are p￿aSed to report that Read for Good's programmes have collectively reached 610,295 children and young people across the UK, engaging children in reading, books and storres in a varfety of ways. Our ro￿ is to pro)ride expertise. free resources and support to the profession815 who work with children. However. as an organisation that works extensively in UK schools and hospitaLs we see the enormou5 and growiw challenges they la￿ in helping our nation's children and young people fulfil their potential. Budgets and resour￿$ a￿ tsghter than ever and children's needs a￿ compkx and wide-ranging. Because ol this. we have invested further in our team and resources to ensure they continue to rneet the needs of the piofe5sionals whom we rely on lo deliver our projrammes and the children they serve. In November 2024. the National Literacy Tr(tst shared findings from its survey ol more than 76.000 UK children and young people Annual Pupil Survey ￿Vealing that enjoyment of reading ls'at crisis point.. Only one in three 8-18 year olds say they enjoy reading in their free tim8". the lowe5t18vel in almost iwo decad85, and a staggèring 43.4% drop in just the la3t 12 month5. The research found thatthe reading 8njoyrnent crisis is particularfy impacting boys and young people in secondary s¢hool. It 15 because of these issues thatwe believe we have to harder, and more fftatively, to ensure our work continues to have an impacl reaching as rnany children as possible and VEose who need it the most Our experience tells us that we can make the biggest impact by ensuring children have access lo a vibrant choictr of exeitsng new btsoks, giving them the inspiration to read, to read more frequently and to read mo widely Our work sets out to provide education and healthcare profèssiona15 Wlth high quality, inspiring and effectyve tools and resources to better support children in their care to rèad and to ￿e1 pri¢Jo In thoir own readlng journey. Through this. we believe that children will have brighter futures through a li1￿ong k)ve of reading, laading to improved academic and social outcornes antj better mental health and wellbeing. Page 3 Read for Good Trustees, Report Rgad for Good's dèllv•ry In sehools In 202312024 we deliVe￿d books and free book vouchers worth £372,592 lo 868 schods and settings in need, reaching a total 01610,295 child￿n. We offer a wide range of Pragmatic. tried and tested too15, activities and resources to support schools to encourage Children to read for pleasure. We aim to avoid reading lor pleasure becoming a 'schDoI subject, or a 'homework chore.. Schools can freely access Readathon@), Track My Read@, and 8rilliant Box ol Books along with a rich and vibrant range ol online resources. All our programmes am created both the child and the professional in rnind. Readathon: Ouf Spons0￿cl read has been encouraging pupils to read for ngarty 40 years. The princip￿$ on which It started are still true today.. ensuring d)Ildren are encouragecl to choose what they read, wthoul judgement or 8ssessmenl, provadin9 irTrspiration and motivation. By reading and raising rnoney. they are helping us to provide regular deliveries of books and striryte118r vislts to children in hDspitsls across the Although Readathon Is a pragmatic and effective tool that ¢￿ateS a ￿al buzz about reading in schools, the increasing burdens on schools and teachers inevitably mean that fewer sehools are able to njn Readathon. We ara Investing in our schools programme to further support teachers to ensure our resources and tools are as aC￿sSible and effective as possible. Track My Read= Track My Read is a frèa, 6asy-to-us• onlinè tool for schools and families to engagè and motivate ehildren to read for fun. It is designed to encourage cjaily reading and invrtes users to share how their reading made them feel. lrnportanly. Track My Read values all reading- ensuring a child's choices and opinions are heard, valued and respected. As well as encouraging positive ￿￿ling habits, It prompts constructive conversations about books and stories. BrÉlliant Box of Books.. OLJr research and Dngoing work with schools e￿den￿3 that with budgets stretched thinly, there is a dire shortage of up-to-date, good quality books that chIld￿n want to read. One in seven schools does not have a library, and where15branes do exist, books are often out of date, inaccessible or poorly displayed. R&5ponding lo thi5 need, Read for Good provid85 an ongoing setvice to Schools and cornmunity sethngs in need, offering a box of brand new. curated books lo help boost their reading for pleasure stod($, bringing joy to teachers and pupils. The books are carefully selected to offer an appealing range ol titles designed to rep￿Sent the full spectrum of lived experiences encounte￿￿ by our thildren. We believe that a¢￿$$ to, and a rree choice of, a diverse and Mbrant range olbooks is wtal to ensure young people See th0rn50lve5 and oth8f5 In what they read. To 5UPPOrt all of thèse programmes, we also provide easy-to-use, high-quality rgsourc&s, designed to engage pupils and make Iiftr easier for teachers and librarians. lrnportanlly. we ensure all our rèsources and too15 arè free to access. This year we developed our"Reading Journeys reSoUr￿S further. which help children to see themselves as readers by linking the things children an(1 young people love lo do in their spare time with the opportunity to r8ad. Our Books We Love website page presents hundred$ of easY-t0wac￿ss book reviews. to inspire reading choices, which sit alongside our Author Events Showcase packed fvll ol Inspiring author and illustrator films. In addition, wo provido SlOrytellin9 in schools, taathèrtraining for PG¢E studènts and storytelling training for professionals working with child￿n. 202312024 Delivery in schools.. Readathon resources 38nl to 1,151 Primary and Secondary schools across the UK reaching 375.090 pypils., ProMd6d £60,913 worth ol free book vouthors to schools participating in Readathon., And provided a further2315chool and comfflunity settings with 13,641 brand new books worth £88.242 reaching 93,993 children and young people induding children who may not have a¢￿sS to books at horne.. Dsth'buted £22,330 of National Book Tokens to schools to engage pupils in book cholce and ownershlp., Over 14.5 million minutes We￿ read and recorded on our unique app, Track My Read, across more than 230.000 reading sessions providing teachers and school librarian5 Wrth instructN8 illS1ght as lo thE* rèading behaviours and choices of thèir pupils., Page 4 Read for Good Trustees, Report DelNered focus￿ programmes in 32 GIOU￿SterShIre schoojs reaching nearty 10,0￿ pupils across the county with intensNe reading interventions., • Ran onlinÈ events ShoW￿S1ng a variety of authors and illustrators inclutjing ChikI￿n.9 Laureate, Joseph Coelho. S.F. Syed and Jamie Smart., Visited 4 universities, reaching 295 traiTr8e teachers. to help enlight8n the next generation of teachers in thB irnpcrtance of reading for pleasure. and provide pragmatic ideas on how to encourage children to read for pleasure. In hosprf¥l¥ Each year. over a million children a￿ admitterj to hospltal in the UK, many wth long-tem) condrtlons and complex care need5. Children of lower so¢i¢ieconorni¢ Status have poorer health outcomes and hi9her h05Pital 2dmis5ion rat85. As well as enduring illness or injury, studies show that thildren in hospitsl also suffer the consequence5 of educational deprivation. Forchildren in hospital, the power of 8 book or story goes 8 lon9 way. p￿￿dIng entertainment. comfort and solace durtng sorne of the rnosl challen9ing times in a child's life, as well as helping to rnitigate missed edurth'on. Read for Good provides the UK'S 30 major childrern's hospitals a regular supply of new books and magical storyteller wsits. Our sarvice provides wtal distraction and entertainment for thildren and iheir familiès, 8lreaty disadvantaged by illness or injury. Feedback trorn parents. children. staff and storytellers evidences our impact in mitigatsng rnis5ed schooling. increasing book ownership, reducing isolation and anxiety, making children and their families happier. and even improving the recovery of children in hospital. 202312024 Delivery.. 26.950 new books worth £182.758 delivered to over 84.000 chitdren in 30 of the UK'S rnajorchildren's hospitals across the UK. Read for GoDd's Wel￿Malnta1The￿. bespoke mobil8 bookcas8s, ensuring a high quality, inclusNe, varied book selection for ¢hildren and young people, to suit all ages and abilttye5'. 224 professional storytelling days, all in p8rson,' • Personal support and stewardship for our storytellers and hospitrl staff from the R8ad for Good team- vital when in-person rneetings were so difficult to achieve.. storytelling training provided to 81 varied professionals and Individuals who wanted to Improve their interactions wth children- including a Physiotherapist, Consultant Ana85thetist, Consurtant Radiologist, Regist8red Nui$8, Paediatric Dielician and Port811o noiY18 a few. Page 5 Read for Good Trustees. Report In eommunftl•s As a national Charity based in Glguce5tershire. w8 want to improve the outC0rn8s of chiklren in our local community. We continue our focused programme READ Gloucestershirel which prwde3 schools and other community groups wlh support to fimily embed a Cultu￿ ol rea(ling for pleasure in their settings. We are using our local county tts test and evalu&t8 approachès and Inits"&b"v6s that if offective can be furtherdeveloped and rolled out nalonally. 202312024 Delivery= 23 schools recelved a half-day in-person author visit to Inspi￿ child￿n and young people to have fun with reading,. this was 5UPPOrted with provision of 20 copies of the author's books and digital resources fDr each school ahead of the visits.. 20 schools were givan 150 Brilliant Books and a year-long subscription to weekly publication The Phoenix corni¢. along with a suite of specialist resources designed lo Support $¢hool libraries and in-p8rson Continuing Profgssional Development training to help schools optimise their library and book spa¢es.' 7 sehools weie given a Brilliant Bookshop Experience, In which schools were'flooded. with £10 National Book Token5 for each pupil in either Key Stage 2 or Key Stage 3 along with a Pop-up bookshop exper1ern￿ lin school or in store) and supporting resour￿$,. child￿n We￿ able to choose a total of £1S.000 worth of books in this incredibly engaging and inspiring prqect., Wortted in partngrship with key reading and education specialists in Gloucestgrshirè to ineroase signposting and collaboration. M•a8urlng Success Evaluation and assessment are at the heart ol everything we do. enabling us to be confident that wè are delivering IhE ri9ht programm&5 WI￿ the maximum impact. We seek feedback (both formal and inform211 frorn all our stakehoklers to help us a5ses5, evaluate and amend our programmes. From engaging with fundois and stak9holdats with our nèw stratsgie directs"on, to the evaluats'on ol our PTogrammes, we are keen to learn and adapt. Schools are encouraged to share their experiences ol Readathon and our author eveDls- both in terrn¥ of contenl and org3ni5ation and the difference Ihey hav8 made to their pupi15' reading habits", We review parb'apabon dats for all our programmes and can analyse the demography of schcols iaking part aThJ thos6 not taking part., Farnilies in hospital are asked to o)mplets feedback forrns, available via papgr copY4s and QR codas", Wè maintain personal ongoing contact many families who are wlling to share their stories. explain their experiences and give u5 insights Into what Read for Good's work has rneant to thern., Storytellers feedback to us after every session, sharing quotes, case s￿dies, Storie5 and their refle¢bons', • Hospital staff are Contacted regularly for informal feedbad( and annually with 8 $urvèy to help us understand how our service Can Complement activity on a busy ward.. We monitor social media, %*there families, schools, hospitals and community settings regula¥ty reach outwth their Ihoughts and eomments. Page 6 Read for Good Trustees, Rèport Wlth thanks to our gUPPOrters We are incredibly grateful to the schools running Readathon, and the friends and families who sUPPOrt participating pupils, as well as indivKluals giwng in a personal capacty. corporate supporters and trusts and foundations who give genèrously to make ourwork possible. We work in partnership with Scholastic Book Clubs and N8ty'onal Book Tokens. who are generou5 in their support ol our work. Supported by Scholastic Book Clubs. we gave free book vouchers worth £60,913 to ￿h0O18 in th8 UK to spend on books. The cost ol these vouchers was shared equally with Scholastic Book Club3. In collaboration with National 8ook Tokens, we gave Book Tokens worth E22.330 through the sehools we worf with. increasing book ownership among children and young people. We are incredibly grateful to our long-term partners for helping us to increase the impact of our work. We are excited to conts'nue the development of th& Brilliant Bookshop Experience inibatlV8 in partnership wth National 8ook Tok8n5 in tha corning year. We are also grateful to the many pvblishers, authors and illustrators who give theirtime, gifts in kind. and support ovents, donate books and donate funds to help us inspire even more children to develop a lifwhanging lovè ol reading. In 202W2024 we re￿1Ve￿ 85 grants under £5.000 trom a wide-rarye of grant-rnaking trusts amd foundations across the UK. These gifts are the lifeblood ol our hospital programme. with many supporting our woth in Specific hospitals. Just a handful ofthe5e gr8nts csn f4tnd our work In a hosprtal for an entire year and we are extremely grateful to these funders. A number of trusts fitrnd u5 year on year, or commit to rnulti-yeaf funding which we value enomously as it aid5 our long-term planning. Vvhilstwè can't acknowl6dg6 811 our fundets in tt)is report, please know that if you are one of them or have asked to remain anonymous. we couldn't run thè hosPIt81 pn)grarnme Mthout you and we a￿ hu9ely ap￿cIatiVe ol your kind support. Thank you. We woupj like to 8xtend a sp8cial thank you to the following trusts, foundations. corporate partner5 and irKlividual$ who have givèn grdnts or donations of £5.000 or more this year, some of which has been carr￿d forward to be spent in the following year. Adrian Swire Charitable Trust Julia and Hans Rausing Bhim Ruia Foundation Lawson Se￿ernent Trust Canbrick Charitable Trust Liz and Tery Bramall Foundation Christina Mary HeThJrie Tfust Lord Cozens-Hardy Trust Duchy Hèalth Charity Miss Margaret Buiters Reekie Ch8rStable Trust Edith Murphy Foundafy'on Newby Trust Eth4ard Gosuing FourKlation Pilkinglon Charities, Fund Focus Foundation Shèars Foundakn"on Halbard Charitable Trust S￿rOX-S0r￿ Enginagring Group Education Fund Helen Roll Charity Taylor Family Foundab"on Hugh Fraser Foundation Untjm Comrnuntty & Social Justicè Fund Irpland Funds Great Britsin Unwin charitab￿ Trust Jennifer Hayward and Richa Waito Ulley Foun(Jation Jones 1986 Charitable Trust William Lithgow Foundation Pagè 7 Read for Good Trustees, Report Flnan¢lal rnvlew Polffcy on reserve$ The trustees reV￿W th8 level of resar￿S at least annually. Read for Good'5 current policy is to hold fvee reserves of ￿lw88￿ 6-8 tnonth5' Worth of operaij'ng ¢os15, reflecting the volatility of inc¥ime from the sthool 5ponsorgd R•odathon progr8rnme. Total funds at 31 August 2024 Include £5.0￿[2023.. £64,936) restricted by donors for specific projects an £41,78312023.. £48,746) d8signated in relabon to tangible fixed assets held by the Charity. This leaves free res&rv85 of £880,729, which rgpresent 8 months, of planned expenditure for the fin3nci81 year ending August 2025. Nearly all the restricted funds r￿e1Ved in 2023-2024 werè spent within the year in line with our obligations. The eharity is actively inv85ting in its personnel and acliwtl&S to deliver th8 arnbikn'ous strategic objective to reach 1 million thildrèn and young people each year by 2028. Pflnclpal fundlngsoure•$ The principal funding source is voluntary income from a combinabon ofgrants from trust$ and friundations and donations from members of the publ￿, primarily through ReadathonQ). Gc*lng conc•m After making appropriate enquiries, the trustees have a ￿aSonable expectation that the charity has adequate rasourtss to continue in opeiats.onal 8xist8nce foi the foreseeablo future. For this re8SQn. they continue to adtspt the going concÈm basis in preparing the financial statsments. Furtherdetails regarding the adoption of the going conrkrn basis can be found in the accounbro policies. Structu￿, goveman¢e and management Nature of govemlng docum•nt Read for Good is registered 3$ 8 Charitable Cornpany lirnited by guarantee and was set up by a Mernorandum and Artic￿$ of Association on 5 May 2009, as amended by a special ￿$OlUb.On on 11 June 2009. The charity registered with the Charity Commission on 24 June 2009 and with the Office of tho Scottish Charity Regulator IOSCRI on 17 November 2009. The narne ofth8 Charity w8s ¢hanged from ReadathorQi to Read for Good by a rasolution on 11 Novernber 2010. Re¢rnitm•ntand appointm•ntof tru5t••s The management ofthe Charity is the responsibility of the trustees who are e￿cted and ¢Othopkd under the terms of the trust dee¢. Inductlon andtralnlng of tru$to9s The board of trustees constantly rovièws tha numbor ol trusttras and recruits whèn iequlred. Any new trustees wlll hav¢ their responsibilit￿S explained by the existing trustee5 and other profe55ional advi50r5 as appropriate. Organlsatlonalstrue¢ure As prev40U51y stated, the bu5ine5s ofthe Charity is overseen by the Board of tru5tegs which has legal responsibility for the 0ry8ni5ation. The Iruslees detemiine policies and boundaries under which the rnanagem8nl tearn operates. The day-to-day rnanagement ol the Charity is delegated to the Chief Executive Officer arKI. through her, the members ol the staff team. The team works to deliver Read for Good's ag￿e￿ strategic plan and targèts, which are alignèd to its core aims and objectives ensuring its current activities hava maximum ielèvance and impaet Page 8 Read for Good Truste8s' Report Paypollcyfor$•nlorstsff The pay of tho senior staff is reviewed annually, along with that of all employees, and nomially increases are informed by national inflation rates and affordabilty. Pay benchmarkin9 is Carried out annually when salaries a rewewed and on recruitrnent of new posts through sector cornparison$ and reports, internet searching for %rnilar posts and dlscussion with $8ctor specialists. Fundraisrng approach Fundffdising 15 858ential for Read lor Good's charitable delivery. Donors can be assured that Read for Good complies with the regulatory standards loi fundraising. All our work 15 govemed by a Fundraising Policy. We are registered with the Fundraising Regulator and are commrttgd lo the Fundraising Promise and gdherenc¥ to the Code of Fundraising Pract￿e. There were no cc¥npliance issues during the course of the year. Vve monitor and leV￿W ourfijndraising pr8cts'e¥5, rnaintsin training forstaff and worf( hard lo cornpty with ¢uwont guKlance and b8St p¥actirE. The majority ol our fundraising is carried out by In-house fundraisers ernployed by R8ad lor Good", on occasion, we work with and closely monitor, profe&%ional fvndr8159rs governgd by 8 contract in line with the Cod¢ of Fundraising Practice. We do not conduct telephone or dOOr-t￿00r fundraising Where appropriate we have Commercial Participator Agreements in pla￿. We 8nsure that our fundraising approach is appropriats for our audi8ncas and a￿ayS protects'ng the public. We welcorne feedback and input from our donors, of any size, and operate a first-class stewardship programme for all donors to thank them and engage them further In ourwoA(. Our website oullines our Cornplaints Policy for the publi¢ and clearly explains how an individual ran complain. We aim to acknowledge all complaints within trvo working days and respond in full within four weeks.. ccynplaints are dealt with in line with our Complaints Policy. The most serious complaints are escalated to the CEO or Chair of the boarLI ol trustees. Vve ￿reiVed zer¢ complaints relating to fundraising in thè financial yèar12023." zerol. Re8d for Good endeavours to a5SlSt its supporter3 to rnake an infomied decision about the Support they ch005e to give us. We do not ac￿pt donations where we have reason to belleve that the donor may be experiencing vulnerabla areumstaiices and ac¢epting the donation would be elhic8lly wrong 8ndlor hamiftjl to the donor. Our Safeguarding Policy is available on our website and reviewed annually. Safeguarding is Lliscussed at each Board meets'ng. Read for Good@, Readathono and Track My Read@ are registered tiademarks of Read lor Good. Voluntears We a￿ enomousty gratefvl to th6 team of regularvolunteèrs who support our work In add￿'Ort to Ihe seNce prowded by our trustees, during 202312024 our volunteer5 donated 774 hours1202212023.. 763 hoursl of time across the year. across 328 Individual sessions. On average we welcomed 11 volunteers1202212023.' 10 volunteers) each month. Thank you to all of our volunteers for their valuable 5UPPOrtI Our skilled and committed board of trustees provkle many additional hours of advice, support and oversight, ensuring good governance and strategy are at the heart of all we do. Page 9 Read for Good Trustees, Report l•lalor rlsk8 and management of tho89 rl8k$ Financialnsk The trustees are sats'sfied that there are adequate control systems in pla￿ to prowde reasonable assurance againsl misstatèment or loss. Thèse includè a stratogie business plan rewewed by the trustees regularly, monthly reviews of performance against target5, rnonthly budget r8conciliation5, delegation of authority to spend within defined limits and S￿regatIon of duties where appropriate. Other external risks ta which tha Charity may be exposed are identified and discussed at regular trustee meetings and any appropriate actions irnplemented. Plans lor luturo p•rlod5 Read for Good is about to embark on its second year ol a five year strategy. The landscape in which we work- supporting childrgn and young peopl8 in schools, hospltals and community settings- is increasingly cornplex and challenging. More and mor8 of our young people fa￿ multipl8 challenges, navigating a comp18x workl in uncertain and adversarial ts'm95. Vvhile rt is well established thal reading can irnprove ac8demi¢ outcomas, rt also supports good mental health and welkbeing. The burdens on thè profes5iona15 we work with In sthod5 and hosprta15 are ovotwttelming. The chIld￿n and young people we want to reaoh the fflost are living in¢reasingly ¢hallenging li￿$. It is b•causè ol this thatwe believe our work is vital, and the need is urgent. Finding 8njoyment in reading c8n bè lifè-thanging. DISCO￿rIng thig at a young age will improve a child's life chances- academic. professional. 50ci8l and emotional. Knowing that thay can find knowlpdge. understanding. solace and comfort in a humble book is a powerful tool that chiklren Can rely upon as they navigatg cornplex live5. Reading is a matter of so¢i81 justice. 1115 an Inexpensive. accessible and incredibty èffective inleNention that increases a child's likelihood of doing well at school. finding a job they love and living happier and mole fulfillèd lives. The￿ Is no downside. Readin9 for pleasu￿ ean change a ehild's futur8. Our mission to en3￿￿, èmpowèr and motivate children and young people to discover Ihe joy of a lif￿changIng love of reading is rnore important and urgelll than ever. Statsmont of trustees, responslbllltles The trustees (who are also the directors of Read for Good for the purposes of company lawl are r85ponsible for preparing thè trustees, report and the financ1al statements in accordan￿ wrth applicable law and United Kingdom Accounting Standards IUnrt8d Kingdom G8nerally Accepted Accounting Pfacticel, Induding FRS 102'The Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland" Company law ￿quIreS the trustees to prepare fiTran￿al statements for each financial year Under cornpany law the trustees must not approve thè finantsal statemènts unlèss thèy are satisfied that they give a true and lair view of the slate of affairs of the charitsble c(Jmpany and of th8 incorning resources and application of resources, induding its income and expenditure, ol the chantsble company lor thal period. In preparing Ihe3e financial statements, thè trust6e5 are ￿qUIred to". select suitable a¢counting poli¢*$ and apply them consistenuy., obstrrvè the methods and principles in the Charities SORP., rnake judg8rnent5 and estimates that ar8 rèasonablè and prL¥Jènt, state whether applicable accounting stsndards. comprising FRS 102 h8ve been followed, subject to any mateiial departuras disclosad and explained in the financial statements,. and prepare the financial staternent5 on the going concern ba5J5 un18SS It is in8pproprihte to presumethat the charitable company will contsnue in bu$ings5. Page10 Read for Good Trustees, Report The trustees are responsible for keeping prop&r accounting records that can disclose witr reasonable awuro at any time the financial position of the charitable company and e￿able them to ensu￿ that the financial staternents comply with the Companigs Acl 2006. They are also r8sponsibla for safeguarding the assets olthe charitable company and hen￿ fortaking ￿asonable steps for the prevention and detection of fraud and other Irregularitses. The tW5tees are responsible for the rnaintenanc8 and integrty of the eorporate and financial infomiation included on the charitable company's websits. Legislation governing the preparation and diss$mination of financial statements may differ from legislation in olherjurisdictions. Dlsclo8ure of Infomiatlon to audltor Each trustee has taken steps that they ought to have tsken as a trustee in order to make thems8lv8S aware ol any relevant audit infomation and to astablish that the char"bty's auditor is aware of that information. The tru$lee5 confirrn th8t there is no relevant information that they know of and ol which they knowthe auditor is unaware. Rèappointment of auditor The auditors, Hazlewoods LLP. have indicated theirwillingne85 to continue in office. Thè dèsrgnated trustees will propose a motion reappointing the auditors at a meeting of the trustees. The annual ￿pOrt￿a$ approved by the trustees of the charity on nd signed on its beh811 by.. Ms Siobhain Whity Chair and Trustee Page11 Read for Good Independent Auditor's Report to the Members of Read for Good Oplnlon We have audited the financial statements of Read for Good Ithe'charity'l forthe year ended 31 August 2024. which comprise the Statement ol Financial Athvities, Balance Sheet, Statement ol Cash Flows, and Notes to the Financial Statements. induding a summary of significant accountlng poliues. The finanaal ￿PortIng framework that has bè8n appli£d in their preparation 15 Unile(t Kingdom Accourib'ng Standafds. compThsing Charit185 SORP- FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements". givé a true and fair view ol the state of the charivs affairs as at 31 August 2024 and of its inwrning resources and application ol ￿SourCes, including its income and expenditu￿. for the year then ended.. have been properfy prepar6d in accordance wth United >Q"ngdom Generally Acceptecl Accounting Practice.. and have been prepared in accordance with the requ1￿MentS of the Companies Act 2006, the Charities and Trustee Investment (Scotlandl Act 2005 and regulation 8 01 the Charities Accounts IScotlan(11 Regulations 2006. Ba#1¥ lor oplnlon Wè Conducted our audit in accordance with Intematsonal Standards on Audits'ng IUKI IISA5 IVKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial 5talernent5 Section of our iéport. We are independent of the chanty in accordance with the ethical requirem8nt5 that are relevant to our audit of the fjnancial Statements in the UK. including the FRC'5 Ethical Stsndard, and we have fvlfilled our other ethical responsibilities in accordance with these requirement5. We bglieve that the audit ewden£t we have obtained is sufficient and appropriate to provide a basis for our opinion. Coneluaions relating to going con¢¢rn In auditing the financial statements. we have concludecl that the trustees. use of the going concem basis ol accounts'ng in the preparth.on of the financial statements is appropriate. Based on the work we ha￿ pèrform9d. wtr hav8 ￿tst idantifièd any matarial uncert8inties r6lats.ng to av&nts or condition$ that. individually or collectivety, may cast significant doubt on the charity's ability to continue 8s a going concern for a period ol at least ￿e1ve months from when the original finanrial statsments were aulh0ri5ed for Issue. Our responsibilities and the re5pon5ibilities of the trustees with respect to going wncern arg d85¢ribed in thè relevant sections of this report. Other Infomiatlon The trustees are responsible for the other inlomiahon. The other inlom)alion comprises the information included in the annual report, Othèr than th8 finanaal statom8ntS and our auditor's report thtrreon. Our opinion on the financi81 statements does not COV8rthe other Information and, except to the extent otherwse expli￿tlY stated in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audit ol th8 financial statemènts, oui responsibility is to read the other information and, in doing so, consider whether the oth8r information 15 rnateri311y incon5i5tent with the financial statement5 or our knowledge obtained in the audit or otheMse appears to be materially misstated. If we Identify such matenal inc¢nsisteni>es or apparent rnaterial misstatements, we are required to determine whether Ihere is a material misstatement in the financial statements or a Material misstatement of the other information. If, based on the work we havè wrfortned, we condude that thgie is a material misstatement ofthi5 othèr information, wè are requi￿4 to report that fact. We have nothing to roport in this regard. Page 12 Read for Good Independent Audltorfs Report to the Members of Read for Good Oplnlon on other mattors prn$¢rlbgd by the Companles Act 2008 In our opinion, based on the work undertaken in the course of the audit.. the illfoitnation given in tho Trustees, Report lor the financial yoar for which the financial statemenfs are prepared 15 consistenlwith the finaneial statemènts". ath the Trustees. Report has been prepared in accordance with applicablg legal requir8m6nts. Matters on whlch w& aro rnqulrod to report by ox¢•ptlon In the light of our knowledge and understanding of the charity and its environment obtained in rha course olthe audit. we have not identified material rnis51atoments in the Trustees, Report. We have nothing to report in respect of th¢ following matters where the Companles Act 2006 and the Charib'es Accounts (Scotlandl Regulations 2(x)6 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been re￿Ned frorn branches not visited by us", or the finanaal statements are not in ag￿ement wth the accounting records and retums", or ¢ert8in disdosures of trustaès, remuneration specified by law are not made,. OT we have nol receNed all the inforTnabon and explanations we r8quiia for our audit. Responsibilities of Trustees As Èxplained more fully in the Statement of trustees, ￿sponSibl11t1es (set out on page 10 and 111. thè trusle8s are sponsible for the preparation of the financial statements and for being sat15fied that they give a twe and fair wew. and for such internal control as the trustees detertnine is n9c885ary to 8nable the preparatson ol fina￿la1 statetnents that are free from material misstaternent. whether due lo fraud orerror. In preparing thè financial stataments, the trustees are responsible for assessing the chariws ability to eontinue as a going cOn￿rn. di$closing, as applicable, matters related to going concern and using the goin9 con￿rn basi$ of accounting unless the trustees either intend to liquidate Ihe charty or to cèase operations, or have no realistic altarnative but to do so. Audltor r•$ponsibÈliti+s for the audlt olthe financlal ¥tatsm¢nts Our objèctives are to obtain reasonable assurance about whether the financial statements as a whole are free from mat8rial misstatement. whether due to fraud or error. and to issue an auditor'5 report thot includes our opinion. Re8son8bLg a5suranc8 is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS IUKI wll a￿ayS detect a material misstatern8nt when it exists. Misstatements can arise Irom fraud or error and are conSide￿d material il. indiwdually or in the aggrègate, they could reasonably be axpactEd to influèncè thè economlc declsions of users taken on the basis of Ihe5e financial statemènts. Page 13 Read for Good Independent Auditorfs Report to the Members of Read for Good Extentto whleh the audlt was capable of detectlng IrYegul•ntles, including Irèud Irregularitiès. induding fraud, are instances of non-compliancè with laws 8nd iegulaknons. design procedures in line with our wsponsibilities. outlined above. to detect rnaterial rnisstalernents in r85pect of irregularities, inclu¢Jing fraud. The exient to which our Procedures are capable of detecting irregularities. induding fraud 15 detailed below.. We Cons￿Or0d the nature of thè company's Industry and Its control ènvironmènt and rèviewed thè company's documentation of their policies and PTocedur85 relating to fraud and compliance with law5 and regulations. Wè also enquired of rnanagemenl about their own idenbficaty.on and assessmenl ol the risks of irre9ularities. We obtained an understanding ol the legal and regulatory framework that the company operate5 in and identified tha key laws and Fegulations that had a direct 8ffect on ihe deterfflinaty'on of rnaterial arnoun15 and discltrsures in the finanual statements, including the UK Companie5 Acl and tax le9islation, and. those that do not have a direct effect on the financial statements but cornplian￿ with which may be funclamental to the company's ability to operate Of to avovJ a material penaty. W8 discussed arnong thè audit en9agemenl tearn regarding the opportunrties and in¢entwe5 that may txist wlthln the organisab.on for fraud and how and Whe￿ fraud might occur in the financial statements. In comrnon with all audjts und8r ISAS IUKI, wa are also required to perforrn specific PTocedur8s lo r8spond tts the risk of rnanagernenl overrid8 In addressing the risk of fraud through rnanagement override of controls. w8 tested the appropriateness ofjournal entries and other adjustments, assessed whether the judgements made in accounting èstirnates are indicative ol a pot6ntial bias." and evaluated th8 business rationale of any significant transactions that are unusual or outside the nonllal course of busin8S¥. In addition to the al)ovo, our procedures to respond to thè risks identifiEd included the lollowin9." rev￿wing fin8nual statement disclosures by testing to supporbng documentation to assess compliance with provisions ol relevant laws and regulations described as having a di￿¢t effect on the financial statemenls., performing analytscal proceduTrs to Identify any unusual or un8xpect8d r8lation5hip$ that may indicate nsks of material rni551atements due to fraud". enquiring ol managernenl Gon￿rnIng actual and potential litigation ancl claims and instances of non-compliance with laws and ￿guI*"0ns", and reading minute5 of rneeting5 Qf those charged with govemance. Our audit pr¢xedures were designed to respond to risks of material misstatement in the financial statements. recognising that the risk ol not detecting a material misstatement dutr to fraud is higher than th6 risk ol not detecting one re5ultsng from error. as fraud rnay involve d81iberate concealment by. for exarnple, forgery. misrepresentations or through collusion. There are inherent limitations in the audit prO￿dureS performed and the ther removed non-complian￿ with laws and regulations is from the events and transactions ￿ffected in the financial 5tat8m&nts, th& less Iikesy w& are to bgeom8 awarè of it. A furtherdescription of our ￿spOnSibl11t1￿s is available on the Financial Reporting Council's web$rte at. htWs'.Ilwww.frc.org.ul(Jaudrtorsresponsibilities. This description forms part of our auditor's report. Page 14 Read for Good Independent Auditor's Report to the Members of Read for Good U$• of our report This report Is made solely to the charrtabla companls trustees. as a body, In accordance wth Chapter 3 of Part 16 of the Companies Act 2006. Our auditwork has been undertaken so Ihatwe might state to the charity's trustees those matters wg are required to State to them in an auditor's report and for no othèr purposè. To tha fullest extent permitted by law, we do not ac￿pt or assume responsibility to anyone other than the charitablè company and its trustees as a body, for our audit work, for this report, or forthè oplnions we have fomied. S¢ott Lawrence enior Statutory Audilorl For and on behalf of HaJewood$ LLP. Statutory Audiior Staverton Court Stavarton Cheltenham GL51 OUX Date.. Pa9e 15 Read for Good ststement of Flnanclal Actlvltles for the Year Ended 31 August 2024 (Including Income and Expenditure AcGount and Statement of Total Recognised Gains and Losses) Un￿trICtsd funds R*8trlctèd fund$ Total 2024 Not• Income and Endowments from.. Donations and legacies Investment income 592,951 31,771 446,496 1,039,447 31,771 Total income 624,722 446,496 1,071.218 Expenditure on: Raising funds Charitable actimties ie4,7091 537.668 164,7091 1,044,100 1506,432 Total expenditure 602,377 1506,4321 1,108.809 Net incomellexpenditurel 22,345 59,936 37,591 Net movement in funds 22,345 159,9361 137,5911 Reconclllatlon of funds Total funds brought foward 900,167 64.936 965.103 Total hjnds carried foward 17 922.512 5,000 927,512 Unrestricted funds Rt$trict•d funds Total 2023 Not• Incorne and Endowmgnt¥ from- Donations and legaci8S Investrnent income 698,546 6.012 398.960 1.097.506 6,012 Total In￿rne 704,558 398.960 1,103.518 ExpgnditUTg on: Rai51ng funds Charitable acbvilies 150,5131 1531.8451 150,5131 1,OS9,542 1527.6971 Total experditure 582,358 527,697 1,110,055 Nel incomellexpenditurel 122,200 1128.7371 16,5371 Other recognbed galns and lossea other gainwlosses 14 14 Net movement in funds 122,186 1128,7371 16,5511 Rèconclliatlon ol fund$ Total fvnds brought forward 777.981 193,673 971,654 Total funds G8rried ft)rward 17 900,167 64,936 965.103 All of tha charity'5 8Ctivilie5 d8riv* from etsntinuing Opafdtions during thè abovè iwo ￿riodS. The funds breakdown for 2024 and 2023 is shown in note 18. The notes on pages 19 to 27 fom an integral part of these financial staternonts. Page 16 Read for Good (Reglstration number. 06895421) Balance Sheet as at 31 August 2024 2024 2023 Notg Flx•d assets Tangible assets 12 41.783 46.746 Current assèts Debtors Cash at bank and in hand 13 14 70.191 946.314 82,007 998,879 1,016,505 1,080.888 Credltor9: Amounts folllng due wlthln one year 15 130,776 162,529 Net currant assets 885,729 918.357 Net assets 927,512 5,103 Fund¥ of thg ¢harlty: Rèstfleted incom• lund$ Restricted frJndg 5,000 64,936 Unrestricted income funds Unrestricted funds 922.512 900,167 Total fund8 17 927.512 965.103 The financial statements on pages 16 to 27 were approved by thè trusteas, and authorised for issue on /3.-/Z.24and swJned on their behalf by.. Ms Siobhain Whitty Chair and Trustee Tho notes on pages 19 to 27 form an integral part of these financial 5tatam8nts. Page 17 Read for Good statement of Cash Flows for the Year Ended 31 August 2024 2024 2023 Note Cash flows from operating activiti•s Net cash expenditure 137.5911 16,5511 Adlustmonts to cash flows from non4ash it¢m$ Depreciation Inv6stm&nt incomo Revaluation ol investrnenls 9,763 131,7711 11,754 16,0121 14 159.5991 17951 Worklng ¢apltal adjustments Decreasellin￿aseI In debtors IDecreaseyincr8a58 in creditors 11,816 31,753 121,9711 3,652 15 Nèt cash flt)W5 from opoiab.ng activit￿$ 79.536 19,114 Cash flows from Inve8tlng actlvlU•s Interest receivable and similar income Purthase ol tangible fixed assets Sale ol investments 31,771 14.8001 6,012 12,9881 370 12 Nel ¢a5h flows from investing acb'vities 26,971 3,394 Nei decrea8e in cash and ¢ash equivalents 152.5651 998.879 115,7201 ash and cash equivalents 8t 7 Septemb¢r 1.014.599 Cash and cash equivalents at 31 August The Charity has no extemal debt. 946,314 998.879 All ol the cash flows are derived Ircm continuing operations duriro the above ￿ periods. The notes on pages 19 to 27 fom an intsgral part oflh¢str finanual statam•nts. Page18 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 1 Chartty $tatu$ The charity 1$ limited by guarantee. incorporated in United Kingdom, and consequentty dogs not have 5hara capiial. Each of the trustee5 is liable to contribute an arnount not exceeding £10 towards the assets of Ihe charity in the ev8nt ol liquidation. The principal pk8Cg of business is.. 26 Nailsworth Mills Avening Road Nailsworth Gloucèstershirè GL6 OBS 2 A¢countiDg policies Summary of slgnlfleant aeeounting pollcles and key aecountlng •gtlmates The princip81 accounting policie5 applied in the preparation of these finanaal statemènts a￿ set out below. These policies have been consistenuy applied to 811 the years presented. unless oth8rwise statsd. Slatgmont of cornpllance The fin8n¢i81 statements have been prepared in 8ccordan¢e WFth Accounth'ry and Reporting by ChantSes'. Statement ol Recommended Practice18pplicable to charities p￿parIng their accounts in accordance with the Finanoal Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in October 20191- Ichaiits'es SORP IFRS 10211, the Financial Reporting Stanclard applicable in the UK and Republic of Irel&nd IFRS 1021 and the Companies Act2006. Ba$18 of prgparatlon Read for Go(MJ rneets th8 definition of a public benerrt enb.ty under FRS 102. Assets and liabilities a￿ initial recognised at historical cost or transaction value unless otherW￿e stated in the relevant accounting policy notès. Golng con¢ern The financial staiemenis have been prepared on a going con¢8m ba&s. The trustèes assess whethor the use of going concem is appropriate i.e. whether the￿ a￿ any material uncertainties related to events or condition5 that may cast significant doubt on the ability ol the charity to conty.nue as a going Concern. The trustees make this assessment in Te5ped of a period of one year frorn the date ol approval ol Ihe financial statements. Judg•ments Estsmates and judgernents are continually evaluated and ar8 based on historical 8xperience and other lactors, inclL5ding èxpectations of future events that a￿ believed to be reasonable ynder the rir¢urnstan¢es. In¢ome and endowments All income Is recognisod once the charity has entidement to the in¢orne. it is probable that the income will be receivèd and the amount of the income receivable can be measured reliably. Page 19 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 Donallons andlegacles DonatiMs are r9cognised when tho ¢haiity has been notified In writing of both the arnount and sètdement date. In the event that a donation is subject to condib.ons that require a level of perf0rnan￿ by the charity befo￿ the charity is entitled lo the funds, the income is deferred and not recognised unts"l either those conditions are fully met, or the fulfi1ment ofthose condith.ons Is wholly within the control ofthe charity and It is probable that these conditio￿5 will be fUlfil￿d in the reporting period. Donated goods and servi￿$ are included at fair value and the income is recognised wthin in¢orne from donatsons and legacies. Exp•ndlturè All expenditure is ￿e￿)nISed once there Is a legal or construetive obligation to that expenditure, it is probable setuement is required and the amount can be measured reliably. All costs are allocat8d to thè applicable expenditure heading that aggregate sirni18r costs to that category. Where costs c8nnot be diieclly attnbuted to particular headings they have been allocated on a basis consistent with the use of ￿50￿ree8. with central staff costs allocatsd on tha basis of timè s￿nt, aThJ deprèciation charges alloeatèd on the portion ol the assel's use. Other support cos15 are allocated based on the spread of staff costs. Raising funds These ar8 ¢OSts incurred in attracbng voluntary in¢orne. and indude an *lotstion of staff (x)sts, platform costs and acts'vities that raise funds. Charitsble activities Charitable expenditu￿ comprises those costs incurred by charity in the delivery of its activit￿$ and services for Its beneficiaries. It includes both costs that can be allocated d1￿CtlY lo such activrties antj those costs of an Indirect nature neeessary to support them. Taxation The charity 15 considered to pa5S the tes15 set out in Paragraph 1 Schedule 6 of the Finance Aet 2010 and therefore it meets the definition of a charitable Gornpany for UK corporation tax purp05es. Accordingly, the charity is potentially exempt from taxation in ￿SpeCt ol income or capital gains ￿e1Ve￿ within categories cOVe￿d by Chaptèr 3 Part 11 of the corporats.on Tax Act 2010 or Section 256 01 the Taxation of Chargeable Gains Act 1992, lo the extent that such incorne or gain5 are applied exdu3iv&W to ¢h8ntable purposes. Tan9lble flxed a¥set4 Individual fixed assets costing £1,000 or more are initially recorded at cost, less any 5ub58quent accumulated depreaation and subsequent accurnulaled irnpaimient losses. Dèpr•¢latlon and amorfsatlon Depreciation is pro￿￿e￿ on tangible fixe¢J assets so as to write off the cost or valuatr"on. less any estirnatsd iésidual value, over theiT exwcted usèful economic life as follows". Ass8t cla$¥ Short term leasehold property improvements Office equiwnent Computer equipment D•prociation method and rate 10 years straight line 3 years Straight linè 3 years strai9ht line Page 20 Read for Good Notes to the Financlal Ststements for the Year Ended 31 August 2024 Trad• dèbtors Trade debtors are amounts dué from customars for merchandi8e sold or services pertormèd in tha ordinary course of busine5S. Trade debtors are recognised initially at the transacknon price. They are sUbseqUen￿Y measured at amortised cost using the effective interest method, less prO￿510n for irnpairrnent. A provision for thg impairmont of trado debtors is estsblished when there 15 objectwe eviden￿ that the charity will not be able to collect 811 arnounts du* according to th8 0ri9inal tsrms of the re￿Ivable$. Cash and ¢ash e9ulval•nts Cash and cash equivalents cornprise cash on hand and call deposits, and other short4erm hiqhly liquid investments that are readily convertible to a known amount olea5h and are subpct ts an Insignificant risk ol change in value. Trad• creditors Tiade cièdrtors 8Te obligations to pay for goLKls or services that h3ve been acquired in the ordinary course ol business from suppliers. Accounts payable are classified as current liabilrties if the charity doe5 not have an unconditional right. at the end of the reporting period, to defer settlement of the ereditor for at least h¥elve months after the reporting date. 11 the￿ is an unconditional nght to defer setdement for at least Nvelve months after the rapoitNJ date, thèy arè pr0s8ntad as non-current li8bilitVdS. Trade creditors a￿ recognised initially at the transaction price and subsequently measured at amortised Cost Using the effective interest method. Fund stru¢turg un￿StriCted income fun¢Ys are general funds that are ava11able for use at the trustees, discretion in furtherance ol the objectives of the charity. Design8led funds are Unrestrict￿ funds ¥et a¥idg for specific purposes al the discretion of the tn55teès. Restricted income funds are those donated IOT use in a particular area or for specific purposes. the use olwhKh s restricted to that a￿a or purpose. 3 Income from donatlon8 and legacles Unrestrictsd fund$ General Re$trlctsd funds Total 2024 Total 2023 Donations from companies. trusts and similar prowd5 592,951 448,496 1.039,447 1,097.506 Of the income received from donations and legacies £446.49812023' £398.9601 was restricted. 4 Investment In¢om¢ Unrostrl¢t•d lunds General Total 2024 Totsl 2023 Other inv8Stment income 31,771 31,771 6,012 Page 21 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 S Expondlture on falslng funds Total 2024 Total 2023 Dir¢¢t costs Costs of generating donations and legacies 64.709 64,709 50,513 6 Expanditure on eharitablt a¢tivitl•$ Unre3tricted funds Deslynated G¢neral Re¥trictod funds Totsl 2024 Total 2023 Not• Stsff costs Depreciats"on and amotbsation Other costs 187.032 187,203 368,235 358,039 9,763 9,763 666, 102 11,754 689,749 340.873 325,229 9,763 527,905 506,432 1.044.100 1.059.542 Activlty undertaken dlmctly 2024 2023 Staff costs Depreciation and amortisabon Hospital Reading Programrne excluding staff costs and overheads S¢hoo15 Reading Programrnes excluding staff costs and overheads Consultancy Travel costs Stoiag Bank Charges Offiee costs Direct costs Auditois r&mUner￿"0n Othergovemance costs 368,235 9.763 368,235 9,763 358,039 11,754 337.e20 337,620 265,788 233.971 8.671 233,971 8,671 327,972 856 1,554 2,040 743 44,500 34,773 10,068 1,455 46.182 28.098 10.008 1.552 46,182 28.098 10.008 1,552 1.044.100 1.059,542 Page 22 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 7 Nèt Ineomlngloutgolng r9$ou￿? Nèt outg(xng resources for thg ygar iwlude.. 2024 2023 Depreciation ol fixed assets 9.763 11.754 6 Tru$t••s remuneratron and expenses During the year the charity rnade the following transacbons with trustees.. During the year endod 31 August 2024. expenses totalling £1.63212023.' £7461 were reimbursed or paid directty to th8 truste8s and the CEO. The expense5 reimbursed were mi￿age claims for attendance at Board meetings and olh8r general charity expenses. No trustee, nor any persons connected with thèm, have recewed any remuneration trom the charity during the year. 9 Stsff ¢osis The aggregate payroll costs wer8 as follows.. 2024 2023 Staff costs durlng the ￿ar wor•.. Wages and salaries Social security costs Pension costs 380,492 38.992 7.898 357,559 38,085 7.6 427.382 401.300 Thè monthly average number of perSOr￿ lincludin9 senior management team) employed by the charity during the year w85 8$ fdlow5' 2024 No 2023 No 71 The number of employee5 whose emoluments fell within Ihe followirrtj bands was.. 2024 2023 £60,001- £70.OCPJ The key management personnel of the Charity compfis6s the Chief Executs"ve Offictr, Chief Opor£ts"ng Officer and the Senior Lèadership Team The lotsl employee benefits, including employers national Insuran￿ contributions, of the key manag8ment personnel of the charity were £185,83612023.' £150.1381. As part of the chaity's growth with the aim ol increasing our reach and impad, over the year the chanty oxpanded its senior manogernentteam and this 1$ reflected thg tot81 $alarigs for Key Managemonl this year. P898 23 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 10 Audltors. remuneration 2024 2023 othor fo8s to audltors Audit-related assurance services Taxation cornpliance services All other non-audit services 9,348 660 9,864 204 10,008 10.Q68 11 Taxat5on The char¢ty is a wistefed charity and 15 therefore exgmpt trorn taxation. 12 Tangible fixed ass•ts Land and bulldlngs Furniture and equlpment Computer equlpmenl Total Cost At 1 September 2023 Additions 158.408 5,438 163,846 4,800 4.800 Al 31 August 2024 158,408 5.438 4.800 168,646 Depreciation Al 1 September 2023 Charge for the year 113,041 9,143 4.059 460 117,100 9.763 160 At 31 August 2024 122.184 4,519 160 126,863 Net book value At 31 August 2024 36,224 919 4.640 41,783 At 31 August 2023 45.367 1.379 46,746 InduLled wiihin ihe net book value of land and buildings above is £Nil12023." £Nill in re5P8cI of troehold land and buildings and £36,22412023'. £45,267) in respe¢t of leasehdds. 13 DebtOf# 2024 2023 Prepayments Otherdebtors 15.704 54.487 27,￿4 54,443 70.191 82,007 14 Cash and c4sh equlvalents 2024 2023 Cash at bank 94e.314 998,879 Pa98 24 Read for Good Notes to the Financial Statements for the Year Ended 31 August 2024 16 Gmdltorn.. amounts lalllng due wEthln one year 2024 2023 Trade creditors Other taxation and social security Othercredfftors AccnJals and deferred incorne 54,519 10.904 2.630 62,723 85,790 11,096 2.394 63.249 130.778 162.529 2024 2023 Delerred Income at start of the year Resources deferred in the year Amounts ièleas8d from tha prev*ous year 8.500 945 8.500 945 Daferrod incom6 at ènd of the year 945 Deferred income ￿lateS io amounts received before the year-end. in relation to the h05Prt81 programme, for sessions that are due to be hekJ after the year*nd. 16 Obllgallons under lea$es and hire purchase contract8 Operating 18as8 commitmonts Total fvture minimum lease payments under nOn-Can￿lIable operabng ￿aSeS a￿ as follow5.' 2024 2023 Oth•r Within one year Be￿88n ona and fivé yèats 26,779 67.325 19.898 69.151 94.104 89.049 The amount of non