Annual Report for 2021/2022
This is the Report of the Trustees of the Aldeburgh Library Foundation (ALF) on how it carried out its activities to meet its charitable objectives for the public benefit and the financial resources generated and employed. The report should be read alongside the Report and Accounts as well as the Data Privacy and Protection, Safeguarding, Equality and Inclusion policies that are posted on our website. Broadly we meet our charitable objectives in the following ways.
Partnerships:
Board members have continued our collaboration with other local providers, such as Britten Pears Arts with the Red House facilities and staff, Aldeburgh Cinema, Aldeburgh Church Hall, Aldeburgh Primary School, and the Aldeburgh Society amongst others.
The Library is seen as a major educational resource, and partners are keen to help us in achieving this aim. Currently with nearly 1,000 users in the Aldeburgh area, and good links with school children and their parents, we believe the Library will continue to serve the whole community across the spectrum from very young to elderly, working adults and retired.
Adult Education classes:
We have provided educational talks, classes, and inclusive activities for adult age groups with enrolments growing to over 750 a year since our start in 2012. Most of these activities occur in the Library in a normal year.
The Friends of Aldeburgh Library:
Ensuring wide public participation in shaping the future of the Library was a key commitment. The Friends of Aldeburgh Library (FOAL) has been established as an integral ‘supporters arm’ of the Foundation. Those who join FOAL are also Associate Members of the Foundation, participating in its governance by nominating a member of the Board, as do the Town Council and the Aldeburgh Society.
The Library in the Community:
The board regularly reviews the work of the Library Manager in progressing the vision of Suffolk Libraries, and of the Aldeburgh Library Foundation for Community activities. FOAL raises income annually to help fund an extension of staff hours to enable more time to be spent on partnerships with schools and other community groups to use the Library, on exhibitions and displays, publicity and on leading the team of dedicated Library
Assistants. This activity was severely impacted by the pandemic restrictions but has recovered in the new year.
Library Refurbishment
The Foundation has raised over £150,000 in funds since inception, principally via adult education and activities income, donations, loans, and small grants to help refurbish the Library’s facilities and its furniture and equipment including a dedicated Children’s Area. The largest refurbishment project was completed in the 2019/20 year.
Current Year to March 31[st] , 2022
The Foundation had a strong operational year with both FOAL donations and courses generating good surpluses as the impact of the pandemic lessened.
Our thanks go to students and tutors who adapted to new online technology with patience and verve as well as to the Library staff who ensured we were hosted safely when in the building.
We are grateful for the generous donations from the FOAL membership that have continued as well as grants and donations from local community groups. The Library itself has demonstrated its real value as a Community asset and we will continue to support it.
Financial Report
The outcome for the year to March 2022 showed the impact of the end lockdown and return to courses in the Library or Church Hall where suitable. Course revenues reached £28,405 versus £15,954 last year and we received generous donations from FOAL members of just under £3,000, allowing us to resume funding of extra hours for the Library staff. We continued to repay tranches of the refurbishment loan and keep satisfactory levels of cash in the bank.
Financial Reserves policy
As a Charity we have a declared financial reserves policy to hold sufficient to meet our contractual obligations for running costs of the charity looking ahead 12 months. These costs were around £3,000 for the financial year for this report. Your Board expects these charitable obligations to continue at around £4,000 pa as the Library re-starts its community activities.
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Aldeburgh Library Foundation Charity No
(if any) 1150450
Annual accounts for the period
Period
Period end
start To
date 01/04/21 date 31/03/22
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Section A Statement of financial activities
| Descriptions by natural category Income Local Authority Grants Charitable, Private Grants and Loans Donations Income From Charitable Activities Subscriptions, Friends of Library Education & Events Income from other trading activities N.B. All amounts rounded Expenditure Cost of Charitable Activities Management and Operational Costs Communication Costs Education Programme & Event Costs Library Support and Improvements Cost of Trading Activities Total incoming resources Net movement in funds Total funds brought forward Total funds carried forward Total resources expended Gross transfers between funds Net funds from Operations |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year Note £ £ £ £ £ 950 - - 950 1,550 A - - - 1,943 B 2,993 - - 2,993 3,749 C - - - - - - - - 836 28,405 - - 28,405 15,954 440 - - 440 121 - - - - - 32,789 - - 32,789 24,153 1,008 1,008 1,637 D 1,035 1,035 88 18,833 18,833 8,670 4,069 4,069 6,822 E - - 24,946 - - 24,946 17,217 - - - 7,843 - - 7,843 6,937 7,843 - - 7,843 6,937 12,713 - 12,713 - 19,650 - 4,870 - - - 4,870 - 12,713 - |
|---|---|
N.B. All amounts rounded
Statement of Cash Flows
| Cash Movement from Financing Opening Cash Balance 01/04/21 Net funds from Operations Closing Cash Balance 31/03/22 |
12,287 - - 12,287 10,350 7,843 7,843 6,937 10,000 - - - 10,000 - 5,000 - F 10,130 - - 10,130 12,287 |
|---|---|
Balance sheet Balance Sheet Total this Total last year Fixed assets Tangible assets Investments Total fixed assets Current assets Debtors (Short torml investments Cash at bank and in hand Total ¢urTent assets 12,287 Creditors: due within one year Net current assets/(Ilabilltles) 12,287 Total assets less current liabilities 12,287 Creditors: due after one year Provisions for liabilities and charges 15.000 25,000 Net assets Funds of the Charity 12,713 Unrestricted funds Designated funds Total unrestricted funds Restricted income funds Endowment funds 4.870 12,713 4.870 12,713 Total funds 12,713 SignattJre Date of roval Diredor and Trustee DavHI GvJgeon Chair Director and Trust99 Robert Boyd Treasurer ?d.Il.Z% 2011112022
Notes to the Accounts
1 The principle accounting policies adopted in preparation of the accounts are as follows:
1.1 Basis of Preparation
The Financial statements have been prepared in accordance with the Charities: Statement of Recommended Practice (FRS 102) and the Companies Act 2006. The Aldeburgh Library Foundation meets the definition of a public benefit entity under FRS 102
1.2 Going Concern basis
The Trustees are satisfied that the Foundation is a going concern.
1.3 Income and Expenditure recognition
Income and Expenditure are recognised on receipt or payment.
1.4 Charitable Reserves Policy
The Foundation's cash reserve policy is to meet contractual obligations arising within 12 months.
1.5 Volunteers and employees
The Foundation has no permanent employees or regular volunteers beyond the Trustee Board.
1.6 Corporation Tax
The Foundation is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
2 Notes on 2021/22 Accounts
A The Foundation received £950 in local authority grants.
- B The Foundation received no Private grants.
C The Foundation received donations towards the Library refurbishment project including sums donated by Trustees.
D The Trustees consider all management and operational costs to be associated with the Charitable activities of the Foundation.
E Expenditure on Library Support and Improvement included £992 spent on equipment costs.
F The Trustees borrowed £30,000 to finance the balance of the Library refurbishment in 2019/20. This year the trustees repaid £10,000. See Note H below.
G The Cash in hand is held in the Bank Account and is sufficient to meet all operational and contractural obligations for the following 12 months.
H The loan is an overdraft facilty, interest free, not secured against assets of the Foundation, repayable by December 2023, and subject to a review by the full Trustee Board every 6 months. The overdraft facility is provided by a family member of one of the Trustees.
-
I All Funds for the charity were unrestricted
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J There were no transactions for remuneration or benefit of a Trustee
04/12/2022
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the trusteèsl members of ALDEBURGH LIBRARY FOUNDATION On accounts for the year ended 31ST MARCH 2022 Charity no (if any) 1159450 Set out on pages Attached I report to the trustees on my examination of the accounts of the above harity (llhe Trust") for the year ended 3110312022. Responsibilities and basis of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act.) I report in respect of my examination of the Trust's accounts rArried out under section 145 ofthe 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under seclion 145(51(b) of the Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me ause to believe that in, any material respect- the accounting records were not kept in accordan with section 130 of the Charities Act., or the accounts did not accord th the accounting records., or the accounts did not comply with the applicable requirements conceming the fomi and content of accounts set out in the Chanties (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to whith attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgn8d: Date: Name: Simon Ive Retired Bank ExecLrtive Address: The Cottage, Donkey Lane. Friston, Saxmundham, IP17 1 PL IER Oct 2018