Annual Report of the Trustees for the year ending 30[th] September 2023
(Reader)
Overview
Read Easy UK (REUK) supports adults learning to read. Our vision is for everyone in the UK to have the literacy skills they need to realise their potential and live life to the full. We are the only national charity providing this service - free, confidential, one-to-one reading coaching by trained volunteers, delivering via locally run groups.
The past year has seen our services grow dramatically. We have increased the number of adults learning to read by 35 per cent to 1,283 and have 92 volunteer groups across the country. Growth of delivery in the North East and Yorkshire (a new area for this period) was particularly strong.
Our developments, achievements, and impact in 2022-23
During the year we:
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Helped 1,283 Readers to learn to read, up from 948 the previous year.
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Supported 92 volunteer groups nationally, up from 81 the previous year.
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Expanded in London from 18 groups to 23.
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Worked with 2,133 volunteers who together gave more than 334,053 hours of their time to help adults learn to read.
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Increased our remote coaching offer for Readers, including a continued project in Cornwall and a new pilot project in Read Easy Shropshire Hills.
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Grew our local offer - one group has over 60 Readers and several other groups have 40+.
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Delivered 6,696 hours of training to volunteer reading coaches.
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Developed our evaluation and impact measurement alongside a theory of change to better demonstrate the broader benefits of learning to read which have always been clear from qualitative data but we are hoping to have more quantitative data to measure and communicate this quality, especially relating to wellbeing. This is on-going.
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Continued to work in partnership with other literacy charities, corporate organisations, and research institutions, to develop and improve our efficiency and share best practice.
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Achieved national billboard coverage with a partnership with JC Decaux which helped to increase awareness, reduce stigma, and encourage potential Readers to seek help. It also inspired potential volunteers and supporters to contact us.
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Empowered over 94% of Reading Coaches would highly recommend volunteering with Read Easy!
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Group locations and Reader feedback
Since I have done the course with Read Easy, I am interested in reading more things. Texting friends and family is much easier, and I have more confidence. I feel very proud of myself that I have achieved the end of the course even though it was challengin
(Carol, Graduate Reader)
Fundraising and finance
During the year, REUK managed to grow sustainably by attracting new income and drawing on reserves in a planned manner. We have also begun corporate fundraising and seen an increase in individual donations following a matched-giving campaign.
Results: Total income was £393,039 (2021-22: £275,476), all of which has been, or will be, used for the running and development of the charity. We also had a period of 4 months without a dedicated fundraiser in this period.
Expenditure was £465,540 (2021-22: £396,041). This increase was crucial to support planned growth and was partly funded by the remainder of a modest development fund created to support the charity through a time of transition and development.
Becoming a coach came from my love of reading and a passion to spread the
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enjoyment that reading can bring but it has been so much more than that, more than I could have ever known it could be.
(Volunteer Reading Coach)
Overall, the Trustees consider financial performance during the year to have been a good outcome in a continual cost of living crisis and other general circumstances including phasing of grant income. They continue to monitor the situation closely and believe that the appointment of a new Head of Fundraising Development in 2023-24, will significantly boost income in the year ahead alongside consistent, quality delivery from our Head of Grants and Trusts.
Volunteers: In addition to employing full and part time staff, REUK is reliant on the support of approximately 2,133 regular volunteers who help Readers in their local communities. The Trustees are hugely grateful for this support, without which the Charity could not function.
Donations: Income during the year was made up of grants from a range of trusts and foundations, individual donations, partnerships, Gift Aid and the annual subscriptions and training income from RE
We are particularly grateful to the following supporters:
| AbergavennyRotaryClub | Masonic Relief Chest |
|---|---|
| Alice Ellen Cooper Dean | National Lottery |
| Anton Jurgens Charitable Trust | Noble Charity |
| Ashworth Trust | PATOSS Gloucester |
| Benefact Trust | Patrick and Helena Frost Foundation |
| Brownless Trust | Ros and Alan Haigh |
| Catherine Cookson Charitable Trust | Schroder CharityTrust |
| Dovedale | Shawdon Charitable Trust |
| George A Moore Foundation | Sir George Martin Trust |
| Girdlers Charity | Sir James Knott Trust |
| Good Gifts | Societyof the HolyChild of Jesus |
| Hadrian Trust | Susanna Peake Charitable Trust |
| HedleyFoundation | The Dulverton Trust |
| High Speed TrainingLtd | The John Horseman Trust |
| Highfields Trust | The Lightbulb Trust |
| Ideas Exchange | The Sir James Reckitt Charity |
| JC Decaux | Valentine Trust |
| John Coates Charitable Trust | Vandervell Foundation |
| Kathleen HannayMemorial Charity | WO Street Charitable Trust |
| Magdalen College,Oxford | Worshipful Company of Insurers Charitable |
| Man Charitable Trust | Trust |
Partnership working: Towards the end of this reporting year, we opened talks with the Shannon Trust, another charity helping adults learn to read, and these discussions continued through late 2023 and early 2024. The possibility of merging the two charities was considered but ultimately rejected, and trustees and staff are now firmly focused on strengthening REUK as an independent agency. The discussions strengthened the relationship and collaboration between the two organisations and both charities remain open to discussions about working in strategic partnership and collaborating on projects where this will support and/or accelerate the missions of both organisations.
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Reserves policy: The Trustees have always ensured that the Charity has sufficient funds in reserve to withstand any shortfall in income or unforeseen expenditure, and this approach was maintained throughout the year. In addition, in view of our ambitious plans and the difficult economic climate, the Trustees monitored cashflow on a fortnightly basis in August and September. The Charity now holds sufficient cash to cover at least three months costs cover by 2026 by investment in fundraising.
Investment policy: The charity funds its activities on a regular basis and as such is not involved with investment activities. Reserves are placed in interest bearing accounts to provide maximum income but with easy access.
Public benefit:
to deliver a public benefit, and believe that the achievements outlined above, as well as our ambitious plans to help more adults learn to read in the years ahead, show how we are meeting this need.
Risk review: The Trustees have conducted a review of the major risks to which the charity is exposed at a national and local level, and processes and systems have been established to mitigate these risks. All identified risks are monitored closely by the CEO and senior staff and are reviewed by Trustees on a quarterly basis.
Strategic Plan
In August and September 2023, the Trustees, CEO and senior team reviewed progress plan. All the key goals for 2021/22 annual report) had been met or exceeded.
New targets were agreed (see below), and in 2023/24 a new three-year plan will be developed.
Aims and ambitions for 2023/24
REUK has always been committed to delivering an excellent service to adults who want to learn to read, and that remains our top priority. In support of that goal, the charity is working hard to develop diverse and sustainable sources of income, and to raise awareness nationally about the importance of adult literacy and how it can be improved with a relatively simple solution.
We are also developing our infrastructure and business support to best empower local groups to deliver in the most efficient ways possible.
After two years of rapid growth, we will be consolidating our efforts in this financial year and building on our recent success to support groups locally to reach 25 Readers each where possible. Rather than adding very many more groups, we will be looking to strategically strengthen the organisation for sustainability and long-term effectiveness. Helping adults learn to read will remain our core mission, with the Reader at the heart of all we do.
To achieve these goals, in 2023/24 we will:
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Support over 1,500 Readers for the first time.
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Increase the number of volunteer groups from 92 to 100.
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Continue to help more Readers by increasing opportunities for digital learning. Further develop partnerships with other literacy charities, to increase impact.
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Further incTease our awareness and advocacy work building on nalional successes of Ihe past Iwo years (BBC and JC Decaux} Continue to improve our efficiency by further developing our systems and processes. We are reviewing CRM systems and data management platforms (work began in 2023} Continue to develop our Equality, Diversity, and Inclusion strategy. Gather data with our new evaluation processes to establish and evidence broader impact. Diversify our income SoUrS (corporate and Community in¢omel. In Q3 we will be writing our next 3-year strategy and expect that it will focus on remote coaching and further partnership delivery and collaboration. Trustees are mindful that although a period of planned consolidation is likely in the short-term, the Trustees are confident that the charity is well positioned to continue providing its much- needed services in the community and lo develop sustainabilily. Statement of Tru8tee8' responsibilitie8 The Trustees are responsible for preparing the Trustees. Annual Report and the financial slatemenls in accordance with applicable law and United Kingdom Accounling Standards Iunited Kingdom Generally Accepted Accounting Practice). Law applicable lo charities in England and Wales requires the trustees lo prepare financial slatemenls for each financial year. which give a true and fair view of the charily and of the incoming resources and application of resources of the charity for that year. In preparing these financial slatements the trustees are required to.. select suilable accounling policies and then apply Ihem consistently.. observe Ihe melhods and principles in the Charities SORP", make judgements and estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the linancial slalements., and prepare the financial statements on a going concern basis unless it is inappropriate to presume Ihal Ihe charity will Continue in operalion. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial posilion of Ihe charity and enable them lo ensure that the financial statements comply with the Charities Act 2016 and the Charity (Accounts and Reports) Regulalions 2008 and the provisions of the Irust deed. They are also responsible for S8feguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The charity's Trustees consider t t an audit is not required for this year (under Section 144121 of the Charities Act 20161 and t t an independent examination is required. Signed the truste sby: ugfo (Trustee) Ms P Koulouri {Trusteel 08te'.
Read Easy UK
Financial statements
For the year ended 30 September 202
Charity number 1151288
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Read Easy UK
Legal and administrative information
| Registered charity number: | 1151288 |
|---|---|
| Principal address: | Unit 3 |
| Batsford Estate Yard | |
| Batsford | |
| Moreton-in-Marsh | |
| Gloucestershire | |
| GL56 9QF | |
| Trustees: | P Espinasse |
| Ms JE Peerless | |
| Mr CJ Bale | |
| Ms H Ayles | |
| Mr PJ Mugford | |
| Chief Executive: | M s C Priddon |
| Bankers: | CAF Bank Limited |
| 25 Kings Hill | |
| Avenue West | |
| Malling | |
| Kent | |
| ME19 4JC | |
| Independent examiner: | Asad Noorani FCA |
| Tayabali Tomlin | |
| Kenton House | |
| Oxford Street | |
| Moreton-in-Marsh | |
| Gloucestershire | |
| GL56 0LA |
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Read Easy UK
Independent Examiner�s Report to the Trustees of Read Easy UK
We report on the financial statements of the charity for the year ended 30 September 2023.
This report is made solely to the charity�s trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the charity�s trustees that we have done so, and state those matters we have agreed to state to them in this 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 charity and the charity�s trustees as a body, for our work or for this report.
Respective responsibilities of the council members and reporting Accountants
The charity�s trustees are responsible for the preparation of the accounts. The charity�s trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the Act), and that an independent examination is needed.
It is our responsibility to:
examine the accounts (under section 145 of the Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act); and
to state whether particular matters have come to our attention.
Basis of opinion
Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required for an audit, and consequently we do not express an audit opinion on the accounts.
Independent examiner�s statement
In connection with our examination, no matter has come to our attention:
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1 which gives us reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 130 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the requirements of the Act; or
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2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Asad Noorani FCA Tayabali Tomlin Kenton House Oxford Street Moreton-in-Marsh GL56 0LA
22 January 2024
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Read Easy UK
Statement of Financial Activities
For the year ended 30 September 2023
| Incoming resources Incoming resources from generated funds: Voluntary income Affiliation fees and subscriptions Investment income Training income Sundry income Total incoming resources Resources expended Cost of generating funds: Fundraising activities Governance Charitable activities: Volunteer support costs Administration costs Total resources expended Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund 236,301 18,104 1,639 27,111 179 283,334 (5,726) (2,394) (359,346) (34,265) (401,731) (118,397) 154,684 36,287 |
Restricted funds 109,705 - - - - 109,705 - - (63,809) - (63,809) 45,896 9,167 55,063 |
2023 Total funds 346,006 18,104 1,639 27,111 179 393,039 (5,726) (2,394) (423,155) (34,265) (465,540) (72,501) 163,851 91,350 |
2022 Total funds 227,290 12,550 251 35,216 169 275,476 (1,168) (2,448) (354,384) (38,041) (396,041) (120,565) 284,416 163,851 |
|---|---|---|---|---|
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Read Easy UK Balance Sheet Al 31J Seplember 21123 2023 2022 Noié Tangible assets 10,508 10,508 Current assets Debtors Cash at bank 7,230 85J77 12,940 150,533 Creditors: amounts falling due within ot ear 11,765 (11.296) Net current assets 80.842 152.183 Total assets less current 91J50 162 691 Represented by: General reJerne Balance brought forward 163.851 284.416 IDeti¢it) I Surplus for the year (72,501) {120,565) Balance earried forward 91JSO 163.851 on alf of the triisl es by.. Mugford Trustee Ms P Koulouri Trustee Date.. J6614 1Q
Read Easy UK
Notes to the Financial Statements
1 Accounting policies
Basis of preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer and office equipment � 25% on reducing balance
Incoming resources
All incoming resources are included in the statement of financial activities when they are receivable and the amount can be quantified with reasonable accuracy.
Resources expended (note 9)
Resources expended are recognised in the period in which they are incurred. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly and those of an indirect nature necessary to support them.
Investments
Investments are valued annually at market value. Gains or losses are taken to the Statement of Financial Activities. Investment income has been taken into account on an accruals basis.
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Read Easy UK
Notes to the Financial Statements (continued)
For the year ended 30 September 2023
| 2 Tangible fixed assets Cost At 1 October 2022 Additions Disposals At 30 September 2023 Depreciation At 1 October 2022 Charge for year Eliminated on disposal At 30 September 2023 Net book values At 30 September 2023 At 30 September 2022 3 Debtors: amounts falling due within one year Other debtors |
£ £ Computer Total & Office Equipment 24,467 24,467 2,342 2,342 - - 26,809 26,809 12,799 12,799 3,502 3,502 - - 16,301 16,301 10,508 10,508 11,668 11,668 2023 2022 £ £ 7,230 12,946 7,230 12,946 |
|---|---|
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Read Easy UK
Notes to the Financial Statements (continued)
For the year ended 30 September 2023
4 Creditors: amounts falling due within one year
| Other creditors 5 Unrestricted Funds General unrestricted fund At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 Organisation development fund At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 6 Restricted Funds General restricted fund At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 |
2023 £ 11,765 11,765 |
2022 £ 11,296 11,296 £ 122,349 283,334 (369,396) 36,287 £ 32,335 - (32,335) - £ 5,000 4,000 (5,580) 3,420 |
|---|---|---|
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Read Easy UK
Notes to the Financial Statements (continued)
For the year ended 30 September 2023
6 Restricted Funds (continued)
| South Region At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 South West Region At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 London and South East Region At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 North East and Yorkshire Region At 1 October 2022 Incoming resources Outgoing resources At 30 September 2023 |
£ 4,167 20,000 (11,554) 12,613 £ - 13,877 (9,356) 4,521 £ - 40,000 (22,008) 17,992 £ - 31,828 (15,311) 16,517 |
|---|---|
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Read Easy UK
Notes to the Financial Statements (continued)
For the year ended 30 September 2023
7 Employees
The average number of employees during the year was 1 (2022 - 14).
8 Trustees’ expenses
During the year no payments were made to trustees except in respect of direct reimbursement of expenses
9 Resources expended
| Resources expended | |
|---|---|
| Cost of generating funds: Fundraising activities Fundraising salary costs Charitable activities: Volunteer support costs Administration costs Salaries |
2023 £ 5,726 32,903 |
| 38,629 | |
| 2023 £ 77,079 36,229 313,603 |
|
| 426,911 |
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