## **The Bookmark Educational Trust Ltd.**
## **Statement of financial activities (including Income & Expenditure account) for the accounting period 1[st] April 2019 to 31[st] March 2020 & Directors report.**
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Note Unrestricted
s funds
Incoming resources
Donations £0
Covid grants £40,285.86
Covid support loan (Barclays bank) £12,000.00
Shop income £19,902.04
Total incoming resources £72,187.90
Resources expended
Cost of generating donations £0.00
Fundraising trading:costs of goods sold & other costs £25,654.33
Charitable activities £16,442.57
Governance costs £5,100.00
Total resources expended £47,196.90
Net income for the period £24,991.00
Net movement in funds £24,991.00
Funds brought forward £1,152.85
Funds carried forward £26,143.85
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The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
## **Balance sheet as at 31st March 2019**
Debtors amounts due after more than one year: £4,700.00
Pre-payments £4,312.50
Cash £26,143.85
Liabilities: Bank Loan (£12,000.00)
**Net Assets: £23,156.35**
Unrestricted funds: £26,143.85
Long term liabilities (bank loan) (£12,000.00)
Other reserves: £9,012.50
## **Total Funds:**
**£23,156.35**
## **Accounting Policies (notes to the accounts):**
## **Accounting Conventions:**
The financial statements have been prepared under the historical cost convention **.**
## **Tangible Fixed assets**
The tangible fixed assets of the trust comprise small items of office equipment and fixtures and fittings in the shop, given the low cost of these items they are written off in the year of purchase.
## **Debtors amounts falling due after more than one year:**
As at the balance sheet date these comprise Rent deposit of £4,700
## **Taxation** :
There are no tax liabilities as at the balance sheet date and nor are any expected to arise.
## **Depreciation:**
As there are no tangible fixed assets there is no depreciation charge.
## **Debtors: amounts falling due within one year.**
As at the balance sheet date there are no debtors
## **Prepayments:**
Prepayments totalled £4,312.50 in respect of rent.
## **Creditors: Amounts falling due within one year:**
As at the balance sheet date there are no creditors.
## **Stock:**
The bulk of the trusts books come from donations and under the usual accounting conventions of valuing at lower of cost or net realisable value these are valued at zero. Previously the decision ad been made to value stock at a nominal £1 per book. Given thecurrent retail conditions, the ongoing pandemic and the growth of digital media this was now thought to be imprudentthe trustees have taken the decision to reduce the notional stock valuation accordingly.
**Liabilities:** The only liability is the long term liability of the covid support loan of £12,000. This cash is currently in the Trusts bank account and repayments have not yet begun. This is a long term liability.
## **Called up share capital:**
As the company is a company limited by guarantee there is no share capital.
## **Reserves** :
The trusts reserves as at 31[st] March 2021 are:
Unrestricted funds: £26,143.85
Other reserves: £9,012.50
## **Related party disclosures:**
There are no related party disclosures.
The financial statements were approved by the board of Directors on January 31st 2022 and were signed on its behalf by:
K.Miryanov, Secretary.
## **Report of the Directors for the Period ended 31[st] March 2021**
The directors present their full report to members as a separate document. A summary is given below.
## **Special note regarding Covid Pandemic.**
The Global pandemic has had a significant effect on our activities both restricting our income from the charity’s shop and at the same time both increasing demand on our services and restricting the inflow of donations.
Not only that but the charity staff themselves have been severely affected, The Trust is run by a group of 10 volunteers – 2 of them have died of Covid in 2021 2 more have been severly ill and hospitalised whilst both our managing director, company secretary and independent examiner have also been affected towards the end of 2021 thus delaying the publication of the accounts somewhat.
This situation was further agravated by the fact that our shop manager was diagnosed with stage 3 pancreatic cancer early in 2021 which had unfortunately spread and she had not only chemotherapy but her spleen, around 40% of her pancreas and 50% of her liver were removed in August leaving her immune system severely compromised and preventing her from resuming work. We hope she will be able to rejoin us in 2022 but this is far from certain.
These events have left the charity being effectively run by just 3 volunteers for a good portion of the year. The Trustees would like to extend their thanks to them for their invaluable work and dedication.
## **Principal activity:**
## **Administrative details of the charity, its trustees and advisers (SORP para 41)**
- The charity’s name is The Bookmark Educational Trust Ltd. This is the name under which the organisation trades.
- The charity registration number is 1157083 and the company registration number 08457482
- The principal office of the charity and its registered office is 15c Rainham Shopping Centre, Rainham, Kent, ME8 7HW
- The charity’s trustees as at 31[st] March 2021 are:
- Mrs N.Konstantinova (Mrs Konstantinova sadly died December 2021)
- Mrs Y.Sherwood-Jenkins
- Mr K.Miryanov
- o Mr G.B. Jenkins
- Mrs H.M.Bennett was a Trustee during the year but sadly passed away prior to the year end.
## **Structure, governance and management (SORP para 44)**
- The Trust is a Charitable Incorporated Company (CIC) being acompany limited by Guarantee and was formed on 22[nd] March 2013
- The memorandum and articles of association are those filed at companies house.
- Recruitment and appointment of new trustees is carried out by the Members who are also the Trustees and appoint the directors.
## **Financial review (SORP paras 55 & 56)**
- It is the policy of the Trust to gradually build a reserve that is equal to one years running costs of the Trust. The covid pandemic and the resulting effects on retial have prevented this aim from being achieved.
- There are no specially designated reserves.
## **Funds held as custodian trustee on behalf of others (SORP para 59)**
No funds are held on behalf of others **.**
## **Public benefit statement**
The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charities Commission in exercising their powers or duties.
## **Objectives and activities (SORP paras 47 & 52)**
The objectives of the trust are:
_‘To advance the education of the public, in particular but not exclusively young people, the elderly, refugees and asylum seekers by the provision of books and by promoting the use of books as an educational medium.’_
The Trust has during the year in question furthered these aims through the provision of books to schools in the UK, Ukraine and Russia and also to those in financial hardship through distribution at food banks.
## **Achievements and performance (SORP paras 53 & 54)**
During the course of the year of operations the trust has continued to build on established relations with a number of schools and has supplied both books and other related educational materials to these schools. In addition work has been undertaken to support the education of homeless persons, those whose education has been adversely affected by the pandemic, the elderly and refugees.
The project to supply books to those in financial difficulty via food bank distribution points has continued.
Donations of books not suitable for use have been sent for pulping with the money obtained furthering the trusts aims. In this connection the trust is also been licensed as a waste carrier by the Environment agency.
The trust has also continued selling second hand donations other than books and is registered with Kent County Council as a dealer in second hand goods thus enabling the charity to take stands at book fairs, boot fairs and collectors fairs.
The trust runs a volunteer staffed second hand bookshop with the funds raised going to support its other activities. In addition to this the shop itself makes cheap books accessible to the wider community with prices starting as low as 50p for many children’s titles and £1 for adult titles.
## **Directors:**
The trustees are the directors **.**
## **Political and Charitable Contributions**
No charitable or political donations made during this year.
On behalf of the Board:
K.Miryanov
- Secretary
January 31st 2021
Below: Independent Examiners Report:
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