98 Read Easy Helping adults learn to reaol Annual Report of the Trustees for the year ending 30th September 2024 Read Easy has helped me find my voice.- (Reader, South West Region) Overview Vision: Every adult who wants to learn to read, can. We help adults to transform their lives by learning to read. We do this by developing local groups and training volunteers to provide personalised. one-to-one reading coaching that is free and confidential, both in-person and online. The past year has seen our services continue to grow dramatically. Our developments, achievements, and impact in 2023-24 During the year we: Coached 1.618 Readers to learn to read, up by 260/0 from 1,283 the previous year. Enrolled 683 new Readers {+40/0). Empowered 268 Readers who graduated or left having made significant progress (+24 % ). Supported 2,149 volunteers who together gave more than 335,000 hours of their time to support adults learn to read (an increase of 1 % ). Developed and sustained go volunteer groups across the country. a slight reduction on last year as groups have been encouraged to merge in some areas to cover a larger geographical area and leave fewer gaps in provision nationally. Recruited and trained 8 % more Reading Coaches (currently 1 ,437 individuals). Increased our online and hybrid coaching offer for Readers. including a pilot project with a partner charity. Grew our local offer - one group has over 65 Readers and several other groups have 40+ We set a target for our established groups to coach 25-35+ and significant progress to meet or exceed this has been achieved across England. Delivered 7,387 hours of coach training to support volunteers to learn how to coach Readers (+10 % Developed our five-year strategy. Continued to work in partnership with other literacy charities. corporate organisations, and research institutions, to develop and improve our efficiency and share best practice. Our Impact The impact of these achievements is that: 99 % of Readers said they were more confident after learning to read and 50,/0 were 'a lot more confident,! 82 % of Readers were more likely to join in with social events and make new friends. Over 65 % of Readers who have children or grandchildren said they were more likely to read stories with them. "After coaching for six months I knew I wanted to change my career path. Now l am working full time with vulnerable adults as well as Goaching. Read Easy has Ghanged my life" (Volunteer Coach, London Region)
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Fundraising and finance
During the year, REUK managed to grow sustainably by attracting new income and receiving continued support from longer-term supporters. We have continued to develop corporate fundraising, albeit on a small scale, and have seen an increase in individual donations following a billboard campaign last year.
Results: Total income was up by 9. 7% to £431,401 (2022-23: £393,039), all of which has been, or will be, used for the running and development of the charity.
Expenditure was down by 5% to £440,563 (2022-23: £465,540). This decrease was part of a planned expenditure review.
Overall, the Trustees consider financial performance during the year to have been a good outcome in a continuing cost of living crisis and other general circumstances, including phasing of grant income. The in-year deficit of £9, 162 was a reduction of 87% from the previous year.
Volunteers: In addition to employing full and part time staff, REUK is reliant on the support of approximately 2, 149 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 REUK's affiliated groups.
We are particularly grateful to the following supporters:
The Adrian Swire Charitable Trust Man Group PLC Charitable Trust The Alice Ellen Cooper-Dean Charitable Foundation Marsh Charitable Trust Anonymous Donor Trust The London Freemasons' Charity The Astor Foundation The Noble Charitable Trust Dovedale Foundation The Notgrove Trust The Dulverton Trust The Patrick and Helena Frost Foundation Gledswood Charitable Trust A. and R. Haigh The Guinness Partnership Schroder Charity Trust Hadrian Trust The Simon Gibson Charitable Trust Hatmill Limited The Souter Charitable Trust Ideas Exchange Susanna Peake Charitable Trust The John Coates Charitable Trust The T. S. Elliot Foundation John Laing Charitable Trust The Valentine Charitable Trust The John Horseman Trust The Vandervell Foundation The Joicey Trust The William Webster Charitable Trust The Kathleen Hannay Memorial Charity
With additional thanks to all the local community groups and individuals who have supported adults to learn to read
Partnership working: We continue to work in partnership with Shannon Trust on two projects. The first is piloting their new technology, with a view to increased online delivery to people who are waiting for coaching. The second is a 'pathways project' that is developing a program me that supports adults leaving the criminal justice system to continue either being coached to read or being a volunteer coach in the community on release. We are in the early stages of this project but are excited about its potential.
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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 diff icult 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, operating costs and Trustees hope to increase this to six months, 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: The Trustees note the Charity Commission's guidance on the need for charities 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 controls and policies have been established to manage these risks. All identified risks are monitored closely by the CEO and senior staff and are reviewed by Trustees on a quarterly basis. "I couldn't have got into college without Read Easy" (Reader, Central Region) Strategic Plan In August and September 2024. the Trustees. CEO and senior team reviewed progress against the year's strategic plan. All the key goals for 2023124 (as outlined in last year's annual report) had been met or exceeded. New targets were agreed alongside a new five-year plan. The Read Easy Strategy 2024-2029 and a 2-page summary can be read here Our Strate ReadEas This strategy was developed with the input of many different stakeholders, and we are grateful to all of them for their wisdom, experience, frankness and insight. Aims and ambitions REUK has always been committed to delivering an excellent service to adults who want to learn to read, and that remains our top priority. To build on our achievements. our newly developed strategic plan will guide our work through to 2029. Our ten top targets for the next three years are to: Double the number of Readers we coach to 3,000 a year. Involve Readers in the continuing improvement of our service. Develop our online coaching for Readers who cannot access services locally. Help each of our local groups to coach 25-35+ Readers annually. Develop a quality assurance framework that will help groups to provide consistently excellent service. Improve the efficiency of our systems and prosses. Strengthen our financial sustainability by diversifying income and carefully managing expenditure.
Strengthen our gathering of data and other evidence. to better understand and demonstrate the impact of our work, both nationally and locally. Develop a clear cornmunications plan to remove stigma and advertise our services. Prepare to work with more organisations and amplify our advocacy. We look forward to continuing to thrive for the 2.4 million adults who could benefit from our coaching. °Thank you for giving me the chanGe to face my fears, leam and gro (Reader, North Region) Statement of Trustees. responsibilities The Trustees are responsible for preparing Ihe Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). • The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to. select suitable accounting policies and then apply them consistently.. observe the methods 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 financial statements., and prepare the financial statements on a going concern basis unless it is inappropriate to presume Ihat the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2016 and the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The charty's Trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2016) and that an independent examination is required. Sign behalf of the trustees by. ford Ms P Koulouri Trustee Trustee Date: ozoéZS 'IIOC.2g
Read Easy Helping adults learn to read Read Easy UK Financial statements For the year ended 30 September 2024 Charity number l 151288
Read Easy UK Legal and administrative information Registered charity number: 1151288 Principal address: Kenton House Oxford Street Moreton-in-marsh Gloucestershire GL56 OLA Trustees: F+Ar P Espinasse Mr CJ Bale Ms H Ayles Mr PJ Mugford Ms P Koulouri Ms C O'connor Mrs E Hopes Ms S Erasmus Chief Executive: Mrs 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 morelon-in-Mah Gloucestershire GL56 OLA
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 2024. This report is made solely lo the charity's trustees, as a body, in accordance with the tenns of our engagement. Our work has been undertaken so ihat we might compile ihe financial slatements that we have been engaged to compile, report to the charity's trustees that we have done so. and stale those matters we have agreed to state to them in this report and for no other purpose. To the fullesl exlent pennitted by law, we do not accept or assume responsibility to anyone other than the charity and the cbarity s trustees as a body, for our work or for this report. Respective responsibilitie5 of the council members and reporting Accountants The charity's trustees aTe 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 ihe 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 a¢cordan¢e with General Directions given by the Charity Comrnission. An examination includes a review of the accounting records kept by the charity and a comparisoT] of the accounts presented with those records. It also includes consideration of anv unusual items or disclosures in the accounts, and sccking cxplanations from the trustees concerning any such matlcTS. The procedures undertaken do not provide all the e.]dence that 'OUld be required for an audit. and Lonsequently 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- which gives us reasonable cause to believe that in. any material respect, the trustees have not met the requirements lo ensure Ihal: proper accounting records are kept (in accordance with section 130 of the Act)- and accounts are prepared which agree with the accounling records and comply with the requirements of the Act; or 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 Totnlin Kenton House Oxford Street Moreton-in-marsh GL56 OLA l March 2025
Read Easy UK Statement of Financial Activities For theyear ended 30 Sepiember 2024 Ullrestricted fund Restricted funds 2024 Total funds 2023 Total funds Incoming resources Inconiing resources]rom generated]unds." Voluntary income Affiliation fccs and subscriptions Investment income Training income Sundry income 314,468 22.180 1,289 34,425 1,032 58,007 372,475 22,180 1,289 34,425 1,032 346,006 18,104 1,639 27,111 179 Total incoming resources 373J94 58,007 431,401 393,039 Resources expended Cost of generating funds: Fundr¢iising <lCtivili¢s (48J30) (48J30) (38,629) Governance (2,514) (6J46) (8,860) (2,394) Charitable activities: Volunteer support costs Administration costs (268,583) (42,913) (71,877) (340,460) (42,913) (390,252) (34,265) Total resources expended (362J40) (78,223) (440,563) (465,540) Net movement in funds 11,054 (20,216) (9,162) (72,501) Reconciliation of funds Total funds brought fonvard 36,287 55,063 91,350 163,851 Total funds carried fonvard 47J41 34,847 82,188 91,350
Read Easy UK Balance Sheet AI 30 Sepleniber 2024 2024 2023 Note Tangible assets 7081 10.508 Current assets Debtors Cash at bank 7.230 85,377 80,481 Creditors: amounts falliDg due within one year (10,778) 11.765) Net curreDt assets 74J07 80,842 Total assets less current liabilities 82.188 91,350 R¢present¢d by: Generrfl re.ierve Balance brought forward 91JSO 163,851 (Deficit) / Surplus for the year (9,162) (72.501) Balance carried forward 82.188 91.350 half of the tr tees by: gford Ms P Koulouri Trustee Trustee Date". z£ 11.oc 24 10
Read Easy UK Notes to the Financial Statements Accounting policies Basis ofpreparation 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 Prnctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ircland (FRS 102) (cffcctivc l January 2015),, Financial Rcporting 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. TangiblefL¥ed 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 sfatement of financial activities when they are receivable and the amount can be quantified with reasonable accuracy. Resources expended (note 9) Resources expended are recogni5ed 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. Inveslmenls Investments are valued annually at market value. Gains or losses are taken to the Statement of Financial Activities. Investsnent income has been taken into account on an aCenlS basis.
Read Easy UK Notes to the Financial Statements (continued) For theyear ended 30 September 2024 Tangible fixed assets Computer & Office Equipment Total Cost At l October 2023 Additions Disposals 26,809 26,809 At 30 September 2024 26,809 26,809 Depreciation At l October 2023 Chargc for ycar Eliminated on disposal 16,301 2,627 16,301 2,627 At 30 September 2024 18,928 18,928 Net book values At 30 September 2024 7,881 7,881 At 30 Scptcmbcr 2023 10.508 10,508 Debtors: amounts falling due ithin one year 2024 2023 Other debtors 4,604 7.230 4,604 7,230 12
Read Easy UK Notes to the Financlal Statements (contlnued) For theyear ended 30 September 2024 Creditors: amounts falling due within one year 2024 2023 Other creditors 10,778 11,765 10,778 11,765 Unrestricted Funds General unrestrictedfvnd At l October 2023 36,287 Incoming resources Outgoing resources 373,394 (362,340) At 30 September 2024 47,341 Restricted Funds General restricledfund At l October 2023 3,420 Incoming resources Outgoing resources 22,007 (14,841) At 30 September 2024 10,586 East ofEngland At l October 2023 Incoming resources Outgoing resources 5,000 (5,000) At 30 September 2024 13
Read Easy UK Notes to the Financlal Statements (contlnued) For theyear ended 30 September 2024 Restricted Funds (continued) South Region At l October 2023 12,613 Incoming resources Outgoing resources 20,000 (14,904) At 30 September 2024 17,709 South Ivest Region At l October 2023 4,521 IncoTning resources Outgoing resources (4,521) At 30 September 2024 London and Kent Region At l October 2023 17,992 Incoming rcsourccs Outgoing resources (17,992) At 30 September 2024 North East and Yorkshire Region At l October 2023 16,517 Incoming resources Outgoing resources 11,000 (20,965) At 30 September 2024 6,552 14
Read Easy UK Notes to the Financlal Statements (continued) For theyear ended 30 September 2024 Employees The average number of employees during the year was 14 (2023 - 15). Trustees, expenses During the year no payments were made to trustees except in respect of direct reimbursement of expenses in line with our expenses policy. Resources expended 2024 Cost of generating funds: Fundraising activities Fundraising salary costs 913 47,417 48,330 2024 Charitable activities: Voluntccr support costs Administration costs Salaries 40,171 42,913 309,149 392,233 15
Read Easy UK Detailed Profit and Loss Account For theyear ended 30 September 2024 2024 2023 Income Donations income Affliation fees and subscriptions Investment income Training income Sundry income 372,475 22,180 1,289 34,425 1,032 346,006 18,104 1,639 27,111 179 Total income 431,401 393,039 Expenditure Fundraising Office expenses Post, printing and stationery Telephone Salaries Sundry expenses Training Rccnjitment Travel, accommodation and subsistence Conferences and meetings Advertising and website Premises expenses Insurance Bank charges Consulting Accountancy 913 6,489 5J56 640 356,566 272 12.137 438 8,931 722 4,482 16,406 14,057 1,667 6J46 2,514 5,726 5,795 12,007 648 346,506 808 22,608 6,796 13,183 9,130 7,776 18,698 8,909 1,053 2,394 Total expenditure 437,936 462,038 Operating (deficit) I surplus (6,535) (68,999) Less: Depreciation 2,627 3,502 Total (deficit) I surplus for the year (9,162) (72,501) 16