## 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.
**----- Start of picture text -----**
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
**----- End of picture text -----**
## **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
- 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