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2021-08-31-accounts

Schoolreaders 2021 Annual Report

Report of the Trustees and Independently Examined Financial Statements for the year ended 31 August 2021 for Schoolreaders CIO

www.schoolreaders.org Registered Charity: 1159157

Contents of the Annual Report For the year ended 31st August 2021

----- Start of picture text -----
Report of the Trustees 1 - 28
Report of the Independent Examiner 29
Statement of Financial Activities 30
Comparative Statement of Financial Activities 31
Balance Sheet 32
Statement of Cash Flows 33
Notes to the Financial Statements 34 - 42
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All images © Schoolreaders/Shutterstock. Images may not be reproduced without permission

Schoolreaders CIO for the year ended 31st August 2021

Report of the Trustees

Reference and Administrative Details

Registered Charity Number 1159157

Bedford Heights Brickhill Drive Bedford MK41 7PH

Trustees

Jane Whitbread – Chair Steven Bryan - reappointed 12/8/21 Lucinda Copeman Alice Garnett - appointed 8/10/21 Rory Landman - appointed 12/2/21 S. Alexandra Moore - reappointed 17/10/21 Michael Scott - resigned 16/3/21 Shannan Stevenson - Vice Chair - reappointed 17/10/21

Independent Examiner Bankers C Airey FCCA of Barclays Bank George Hay Partnership LLP 1 Stanhope Gate Chartered Accountants Mayfair Brigham House London 93 High Street W1K 1AF Biggleswade Bedfordshire SG18 0LD

Governing document

Charitable Incorporated Organisation (CIO) - Foundation Registered 11 November 2014

Schoolreaders CIO for the year ended 31st August 2021

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Report of the Trustees - continued

Chair’s Report

Schoolreaders has continued supporting children’s reading throughout this difficult pandemic year with its core one-to-one in-school volunteer reading support programme and new delivery models developed last year to make it adaptable to the changing education environment.

The 8th year of operation for Schoolreaders started in the midst of the Covid-19 pandemic and its related impact on pupils, schools and the whole education landscape. The year has been beset with lockdowns, disrupted education, school closures, blended schooling and general uncertainty. Children have yo-yoed between home learning and being in school and often restricted into ‘bubbles’ to limit the spread of the virus. It has not been an easy year generally and especially for the education sector. We remain a vital additional resource, with over 10% of all primary schools across England registered with us, requesting our volunteers.

With the continued disruption to school life, our adaptations of reading support provision which consist of a remote digital volunteering option and a Storytime video library have proved invaluable. They have ensured children could receive reading support, whether in school or at home, and have enabled schools to respond swiftly with immediate access to our reading support resources.

Operations and performance

Despite the challenges, it was a successful year. At year end, 3,700 children were receiving one-to-one weekly in-school support across 266 schools and we estimate that over 20,000 children benefitted from Storytime videos both at home and in school. This compares to the 12,700 children that were receiving one-to-one in-school support at the start of the pandemic.

Where possible volunteers have been placed back into school for face-to-face support. Where not possible, our Storytime video library has been welcomed by many of our schools to support children in class and at home. Digital video one-to-one reading support has also been delivered remotely but the strong school preference has been for in-school volunteering.

A great deal of time and effort were focused on maintaining communication with our partner schools and volunteers. This allowed volunteers to be deployed back into service as soon as they were able, and ensured that schools were supported as

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Report of the Trustees - continued

efficiently as possible with the appropriate form of reading support for their oftenchanging situation.

In addition, an extensive new volunteer recruitment drive was undertaken to ensure that we had a large resource ready to deploy into schools to help meet the enormous challenge of lost reading skills. During the year over 1,000 new volunteers had been recruited, assessed and matched to a school.

Impact and outcomes

Impact and outcomes research was once again undertaken at year end, in partnership with the Institute for Research in Education at the University of Bedfordshire. With results from over 200 partner schools and 1,000 volunteers we established that the demand for Schoolreaders’ volunteer reading help in schools has increased significantly. 89% of respondent schools stated the increased need and the average number of volunteers being requested by each partner school is now 5, versus 4 pre-pandemic. There is also a shift towards volunteers being deployed amongst more of the later primary year groups, demonstrating the loss of reading skills and the need for more reading catch-up.

We saw the highest ever scores in our volunteers’ impact on children’s reading fluency (91%) and reading confidence (95%). The results also indicated that nearly half of the children supported by our Schoolreaders volunteers are disadvantaged, as categorised through public data.

Disadvantaged children

The greatest impact of Covid-19 on education, relevant to Schoolreaders, is the stark outcome of the increase in the disadvantage gap due to education disruption. Many disadvantaged children were further disadvantaged in home learning due to digital poverty and environmental factors. An Education Endowment Foundation study* found that the attainment gap between disadvantaged and non-disadvantaged pupils is now seven months for both reading and maths amongst Year 2 pupils.

Pre-pandemic, there was already a crisis in children leaving primary school not reading properly, with 1 in 4 children not meeting the expected standard. Children unable to read properly when transitioning to secondary school cannot access their secondary schooling properly, which has life-long implications.

*Impact of School Closures and subsequent support strategies on attainment and socio-emotional wellbeing in Key Stage 1 – December 2021

Schoolreaders CIO

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Report of the Trustees - continued

Schoolreaders has always prioritised supporting disadvantaged children. This coming year there will be an even stronger shift and more focus on reaching these children. They urgently need additional support in learning to read - the gateway to future learning - to prevent the pandemic having a lifelong negative legacy.

Resource

Having tightened all belts and stopped staff recruitment for eighteen months we ended the year recruiting additional team members to meet our increased demands. We will be starting the new school year in a strong position, with an unprecedented need for our service and a stronger structure and corporate resource. We have retained all staff during the year and have made it a priority to monitor our staff and volunteer welfare throughout this challenging environment.

Covid-19 could produce further disruption to education and our operation in the year ahead. There is still uncertainty, however we have systems and plans to identify challenges and opportunities and to respond quickly.

Finance

Income for the year was £544,873 (£505,883 in 2020) and expenditure was £364,573 (£309,716 in 2020). The income includes £35,000 of future funding commitments for 2021 and 2022. The surplus funds from this year result from a freeze on growth, negotiated temporary cost reduction and our funders’ continued commitment. This is enabling us to ramp up our service and reach more children as schools open. Free reserves represent 7.3 months of budgeted operating costs for 2021/22, which is in line with the reserves policy of 6 to 9 months.

Thank you

Schoolreaders improves literacy and access to learning for primary school children. Schoolreaders can only operate due to the partnership with its stakeholders who provide a variety of resources, be it time, expertise or funding. Thanks to these partnerships the operation can provide hope and continue changing the life opportunities of thousands of children.

I would like to express deep gratitude to our funding partners. Many funders, be it individuals, grant makers or corporate partners, have increased support both in value and long-term commitment in response to the challenges of this pandemic year. Many of our funders have supported us for several years and we are truly thankful. This longterm support enables us to plan ahead with security and sustainability.

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Report of the Trustees - continued

Our staff team successfully adapted to a full year of working from home. It is likely that there will be some degree of hybrid working in the year ahead. Thank you to our adaptable, skilled and committed team of staff for all of their efforts this year in difficult circumstances.

We are extremely fortunate to have so many dedicated volunteers at different levels of the organisation. This enables us to be extremely cost-effective. Our staff to volunteer ratio is 1:200. Our core volunteers - our Schoolreaders - who provide the reading support to children are the heart of the charity. Their time, commitment and care for what they do continually inspires. We are inundated with thanks from our partner schools for all that they do.

I would also like to thank our management and governance volunteers. Again, we are extremely fortunate to have attracted expertise of the highest calibre in our board of trustees, county management teams and special advisors to help guide and steer the charity. Thank you to all of you for your generous giving of time, and for bringing your skills to bear to help us provide a ‘best in class’ service.

The future

There is an increased and enormous need for reading support for primary age children, particularly disadvantaged children. The proven, simple and scalable model of Schoolreaders has enabled the charity to address this challenge cost-effectively and with significant impact. The adaptations and variety of our reading support provisions means that we can support children’s reading, whatever the changing education landscape. The need for children’s reading support is with us for the long-term. Our 3-5 year plan includes growing the breadth and depth of our service provision to reach an even wider range of disadvantaged children.

This need, plus the ongoing recruitment of significant numbers of new volunteers - on top of the existing bank of volunteers - means that Schoolreaders can step up to the challenge and provide thousands more children with vital reading support.

With no significant new disruptions, I believe that our operating model and systems, and our responses to Covid-19 challenges over the past year, puts us in the position to reach our short-term target of providing 12,000 children with one-to-one weekly faceto-face reading support by the end of the new school year, and to raise £645,000 in order to achieve this.

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Report of the Trustees - continued

Schoolreaders remains unique as the only literacy charity providing volunteer in-school reading support to primary schools across the nation, for free.

One of our challenges is to grow the charity at a rate and scale that is sustainable and secure. We are confident that we have the governance, strategy, support and controls to make this happen.

Jane Whitbread Chair of Trustees

March 2022

“ During the previous lockdown, we found that the gap between some groups of pupils had widened, whether down to lack of access to technology or lack of confidence and the uncertainty of knowing how best to support children. Apart from rebuilding the emotional wellbeing of our pupils when schools reopen, our priority throughout the school is reading. We passionately believe that teaching children to read is one of our core purposes and reading culture links directly to children’s attainment. One element of this is developing a love of reading or

‘reading for pleasure’ and this is where the Schoolreaders volunteers come into their own.” - Partner School

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Report of the Trustees - continued

The trustees present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions and exemptions of the second edition of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in October 2019. The reference and administrative details on page 1 form part of this report.

Objectives and activities

Our vision is that every child should be given the opportunity to learn to read well. Without reading skills, a child is denied the gateway to learning and life opportunities are diminished. Even before the disruption to education caused by the current pandemic, 1 in 4 children* were leaving primary school in England not reading to the expected level. This concerning statistic has worsened this year. Children who cannot read properly on entering secondary school cannot access their education properly and may be disadvantaged for life.

One of the reasons behind the poor literacy of many primary aged children is the lack of opportunity for reading support at home, and also sometimes at school. For the past eight years, Schoolreaders has been placing volunteers into primary schools to listen to children read. Volunteers are assessed, interviewed and equipped for this role. The scheme is unique in being the only volunteer reading support scheme in primary schools operating across the nation that is free to schools. The service is free in order to ensure that reading support is available to all children.

The scheme is proven to be simple, effective, cost-efficient, easy to roll out and scaleup. Over 10% of primary schools in England are registered with Schoolreaders.

This year reading support for children is needed more than ever, due to the many children falling behind during school closures. Children who were already disadvantaged have been affected the most during school disruption and need reading catch-up support to prevent them falling even further behind.

Last year, at the start of the pandemic, Schoolreaders swiftly adapted its reading support provision when face-to-face volunteering had to pause in order to continue providing children with reading support both at school and for the first time at home. This has been further developed with digital adaptations so that children can continue receiving support, whether in school or at home. Schools can have immediate access to this resource if they need to send home individual children/classes/the whole school.

*National curriculum assessments at Key Stage 2 in England, 2019 (provisional), www.gov.uk, updated 13th December 2019, Department for Education

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Report of the Trustees - continued

Schoolreaders offers three forms of reading support:

Face-to-face volunteering

Volunteers listen to children read in school on a one-to-one basis every week. Volunteers are recruited from the local community for a minimum period of one year and are interviewed, assessed, equipped and placed in the local primary school where their help is most needed. Priority is given to providing volunteers in areas of disadvantage. The model is simple, cost-effective and free to schools. All primary schools can access this support and every child has the opportunity to benefit.

All of our volunteers complete an application form and are then interviewed through a Safer Recruitment process, with expert consultants on hand for any advice. Our partner schools undertake an enhanced DBS check on each new volunteer. Safeguarding is our topmost priority and all new volunteers are required to comply with their school’s safeguarding process as well as undertaking the Schoolreaders supplementary safeguarding online course. The school provides the volunteer with appropriate guidance, training and safeguarding information relevant to the age and needs of the children that they will be helping. Our volunteers also have access to our online training resources which include: ‘best practice’ guidance in supporting children’s reading at Key Stage 1 and Key Stage 2 including additional resources such as phonics training.

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Report of the Trustees - continued

Each school decides how to deploy their volunteers, which children will be supported, and the frequency and length of the reading support sessions, as every school has different needs.

We continue to support both our school partners and volunteers as their partnership progresses. Everybody benefits from the Schoolreaders scheme: the children, the school, the volunteer, the community and ultimately society.

Digital volunteering

Following successful pilots over the summer, digital volunteering guidance was offered and rolled out as appropriate during the autumn of 2020. Volunteers continue to provide remote online reading support to children in schools as a back-up option to our face-to-face support when volunteers are unable physically to attend the school. The volunteer supports a child in school via video-link.

Storytime

Storytime was launched just over a year ago in order to provide widescale reading support to children who were either at home due to school closures or as an additional resource in school. It was extremely successful with over 20,000 children engaging in the year and is now an ongoing part of our reading support provision. Schools can access our video library of Schoolreaders volunteers reading popular children’s stories. The videos engage children ‘virtually’ and encourage reading and reading enjoyment. This is achieved with the kind permission of the publishers. The library also includes a section of subtitled stories that further help some children and are an aid for deaf children.

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Report of the Trustees - continued

Achievement and performance

Schoolreaders volunteers were in great demand prior to the pandemic, helping to address poor literacy for many primary school children. This year, which has been a full year of ‘living with the pandemic‘ with all its associated disruption particularly on education and children’s learning, has resulted in an even greater need and demand for our service. In response there has been an increase in new volunteers offering their time to help children catch up on reading skills. It seems that there is a move, possibly resultant from the pandemic, that some individuals who had not considered volunteering before are now keen to donate their time and skills to help their communities.

It has not been an easy year due to the frequently changing educational landscape, with schools having to close to all but the children of key workers and vulnerable children on two occasions. Whole class bubbles were also sent home to isolate to try and prevent spread of the virus, and there was high staff absence due to Covid. As a result, Schoolreaders has been in regular communication with all of our schools and volunteers to react and adapt our reading provision as necessary as the situation changed. This has been very time-consuming but worthwhile as we have retained the vast majority of our 1,270 volunteers who had been providing in-school support and we have more than 1,000 new volunteers matched and ready to start once the situation allows.

As well as the school environment frequently changing, many of our volunteers’ situations were also fluid depending on their vaccination status and willingness physically to attend their school. Whilst this has taken a great deal more management and co-ordination than in previous years, it has been extremely valuable as we have ended the year supporting 3,700 children across 266 primary schools with in-school, face-to face support each week. We have also provided remote digital volunteering support as a back-up option where in-school volunteering was not possible. A further 20,000+ children benefitted from reading support via our Storytime video library. This is an exceptional achievement considering the circumstances and we are very proud to have been able to help so many children catch up on lost reading skills this year.

Schoolreaders is in a strong position to scale-up and provide more children with the support they need to be able to read well and access their learning.

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Report of the Trustees - continued

Key facts

10%

of schools registered

In many counties more than 25% of primary schools are registered with us, and in two counties over 50% of primary schools are registered with us

Schoolreaders volunteer support has been shown (as established pre-pandemic) to increase the reading age of 95% of the children that they support. 58% of the children improved their reading age by 3-6+ months and 37% by 1-3 months above the expected reading age improvement over the period supported

An average participating school is now requesting more volunteers from Schoolreaders 25%

31% of our volunteers have previously worked in school as a headteacher/ teacher/governor

77% of our volunteers felt they themselves had benefitted from being able to make a difference to the lives of others

99% of schools rated Storytime resource (adaptation to pandemic school closures) as good-excellent

3,700 children are supported with one-to-one weekly in-school reading support, plus an estimated 20,000 children are supported through our Storytime video library

Each school asks for volunteers on average[5]

89%

of schools state that Schoolreaders volunteers are more needed than pre-pandemic

99% of Schoolreaders volunteers would recommend volunteering with Schoolreaders to someone else

Schoolreaders School Survey 2021, conducted in partnership with the Institute for Research in Education at the University of Bedfordshire

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Report of the Trustees - continued

Performance against 2020 objectives

Objective Performance
To reach 15,000 children by August 2021 We estimate over 24,000 children were supported
across the reading provisions.
Over 3,700 children received one-to-one weekly
face-to-face support in school. (In addition more
children were reached with the digital alternative
when in school volunteering wasn’t possible).
Over 20,000 children received Storytime reading
support.
Conduct a survey amongst our volunteers and This was completed in September 2020. Over 400
schools to find out their individual needs, volunteers and over 100 schools completed the
limitations and plans. survey which provided us with the understanding of
how to proceed in re-deploying our volunteers and
which type of provision was suitable for each
school.
Keep in individual contact with our 1,290 Communications with our paused volunteers was a
Schoolreaders volunteers who had to pause their priority. We continued to provide them with
in-school volunteering due to Covid-19 and liaise support through regular group and individual
with them and their school regarding a potential communications, including volunteer coffee
return to school. mornings on Zoom which were very popular. We
mediated between volunteers and schools to
ensure returns to school were maximised.
Keep in individual contact with our 686 primary Regular group and individual communications were
schools that had in-school volunteers prior to undertaken with our schools. This was very time-
Covid-19, in order to monitor their position consuming but necessary in order to respond as
regarding the return of their volunteers. soon as possible with relevant reading support in
each individual school's case.
Communicate regularly with the further 900 primary Regular communications were undertaken and a
schools who have requested our volunteers and large number of these schools took up our
undertake strategic volunteer recruitment around Storytime video library offering.

Communicate regularly with the further 900 primary schools who have requested our volunteers and undertake strategic volunteer recruitment around these schools.

Undertake a large volunteer recruitment campaign in order to increase our 'bank' of ready and willing volunteers that are matched to schools and will be ready to start as soon as the situation allows.

We recruited over 1,000 new volunteers who are matched to a school and ready to start. Many other new volunteers are in the process of being onboarded.

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Report of the Trustees - continued

Objective Performance
To develop digital initiatives to complement in- Two digital initiatives were developed.
school support Digital remote one-to-one volunteering where in-
school volunteering was not possible.
Storytime video library providing reading support
to children both in school and at home.
Further develop our digital volunteering scheme This was offered to schools. In the cases where it
where volunteers at home listen to children read in was taken up, schools found it highly effective. In
school. our end of year survey, however, 99% of school
respondents valued face-to-face volunteering as
their preference and as more effective.

Develop the Schoolreaders Storytime Library with Storytime was an enormous success this year with new video stories read by Schoolreaders volunteers over 20,000 children benefitting from it in school and make them available to our 1,600 registered and at home. It is the closest alternative to one-toprimary schools. These will be available for use one physical support that we can provide to both as an in-school resource and for children at children at home. We received a multitude of home. thanks from schools and parents for the help that this provided. New stories read by Schoolreaders volunteers, as well as readings from authors and celebrities, were sent to all partner schools during school closures every week. We also partnered with the Theatre Royal Haymarket who organised video recordings of young actors reading a range of children’s books. In addition, to aid struggling readers and those with hearing problems, we created video stories with subtitles and a dedicated section on the portal. “Please can we share heartfelt thanks for the effort your volunteers made during the pandemic to keep stories alive through video. Our teaching staff have read our children stories via video daily, but we have also encouraged families to watch your team of amazing storytellers bring books to life. Allowing young children to tune into the voices of a range of people and hear the diversity of dialect and richness of language has been wonderful.” - Schoolreaders Partner School Develop an online learning platform to A new e-learning platform was launched in March complement the training that volunteers receive in 2021 to supplement training received in school. school and further enhance their impact on the The first course on safeguarding, developed in children they support. conjunction with specialist advisors, has been well received. Further courses are in development to ensure the greatest impact of volunteers.

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Report of the Trustees - continued

Objective Performance
To increase management support as part of Both Trustees and Senior Management met more
recovery plans and review long-term strategy frequently and reviewed the fast-changing situation
in schools, strategy and risks.
The Trustees and senior management team will The Trustees met at least bi-monthly.
continue to meet more frequently than in pre
Covid-19 times in order to monitor the situation
and to help steer any adaptations necessary.
We will provide regular team-building on-line The operation was run with home working for the
sessions to keep our staff and volunteer teams whole year, in line with government guidance. Our
cohesive, focused and motivated. model enables this to work effectively, however
once guidelines allow, we will return to the office,
probably with some hybrid working. Staff well-
being was a high priority and line managers
monitored this closely. Where home situations were
affected by the virus or school-closures we were
able to offer some flexibility for staff to cope with
this.
We will revisit our strategic long-term planning in Short- to medium-term planning has been a top
light of Covid-19 and ascertain future plans based priority this year due to the frequently changing
on a number of back-to-school scenarios. situation. Strategies for different scenarios were
drawn up. These will be used next year to review
the 3-5 year corporate strategic plan.
Objective Performance
To develop our fundraising strategy and ensure a
fnancially sustainable model		 A strategy was developed in order to be able to
respond quickly to any scenarios negatively
affecting funding e.g. fundraising events were
unable to be held in person.
Alternative funding plans were made such as our
first digital fundraising campaign which was
extremely successful.
Income for the year exceeded budget and a
number of new multi-year funding commitments
were received, increasing sustainability.

Table continues on following page

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Report of the Trustees - continued

Objective Performance
Table continued from previous page
Continue to operate on a very lean structure in The Schoolreaders simple model, lean structure
order to minimise costs, limiting recruitment and and use of digital technology, meant that
growth plans for this year. overheads and operating costs were kept to a bare
minimum. In addition costs were cut through
negotiation e.g. office rental.
Review fundraising strategy in light of Covid-19 The strategy was reviewed to protect both this
limitations on certain fundraising opportunities, year’s income and future funding. Our first digital
such as online fundraising campaigns and fundraising campaign - Race For Reading - took
donations. place. The campaign was extremely successful,
attracting excellent corporate sponsorship,
celebrity endorsement and raised over £40,000.
Continue to build reserves in line with the new Free reserves were increased to 7.3 months of
reserves policy which has been revised to ensure operating costs, in line with the reserves policy of
even greater resilience in the current 6-9 months.
unprecedented times.
Maintain contact and keep our supporter base Supporters were informed of our adaptations and
informed of the changing situation and our any changes to our provision.

Maintain contact and keep our supporter base informed of the changing situation and our responses in order to keep supporting children's reading.

Objective Performance
To collaborate with other organisations to ensure Schoolreaders joined the Fair Education Alliance,
the greatest impact of our service which has members across all sectors of education,
and attended webinars and their annual meeting
and network events.
In addition, meetings were regularly held with other
stakeholders in the primary education sector.
Liaise with other literacy charities and education- Bimonthly group meetings were held with other
related bodies to ensure a joined-up response and literacy charities. This ensured sharing of
combine resource where possible. information and best practice.
Continue to carry out research into the impact of Our annual end of year survey with the Institute of
our service in partnership with the Institute of Research in Education was conducted successfully
Research in Education at the University of with over 1,000 volunteer respondents and over
Bedfordshire in order to develop the Schoolreaders 200 school respondents.

Continue to carry out research into the impact of our service in partnership with the Institute of Research in Education at the University of Bedfordshire in order to develop the Schoolreaders model and inform future strategy.

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Report of the Trustees - continued

Impact and outcomes

Impact and outcomes are measured every year in partnership with the Institute for Research in Education in order to establish effectiveness of the provision and inform developments.

The need for and success of the Schoolreaders model is demonstrated in the graph below, showing the number of children benefitting from reading support over the past eight years. Despite the difficulty in providing physical in-school support this year, the adaptations of our model last year, in response to the challenges of the pandemic, have enabled us to reach more than 24,000 children with reading support through a combination of in-school, digital and Schoolreaders Storytime provision.

Number of children provided with reading support by Schoolreaders

In-school, digital and Storytime support:

----- Start of picture text -----
21,500
20,700
12,790
10,500
7,100
70
3,630
2,990
317 707 1,480
Aug '14 Aug '15 Aug '16 Aug '17 Aug '18 Aug '19 Mar '20 Aug '20 Aug '21 Aug '21
In person, one-to-one Digital, one-to-one Storytime
22,000
16,500
11,000
5,500
----- End of picture text -----*

Reading age improvement

With respect to the impact of the Schoolreaders volunteers on specific reading performance, pre-pandemic research (reflected in the pie-chart on the following page) showed that 95% of children improved their reading age as a direct result of the Schoolreaders provision. 58% of children improved by 3-6+ months and 37% improved by 1-3 months over and above their expected improvement.

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Report of the Trustees - continued

Reading-age improvement

----- Start of picture text -----
5%
of children did not
improve their reading
age above what would
be expected in the
timeframe
95%
58%
of children
improved their of children
reading age above improved their
what would be reading age by
expected in the an additional 3
timeframe
to 6+ months months
37%
of children improved their
reading age by an additional
1 to 3 months
----- End of picture text -----

of children improved their reading age by an additional 3 to 6+ months months

Other reading performance indicators

In addition to reading age, other key reading performance indicators were assessed. The highest ever scores for an improvement in reading fluency (91%) and reading confidence (95%) were recorded and high levels for reading enjoyment (87%). These can be seen in comparison to previous years in the graph below.

----- Start of picture text -----
100
75
50
25
Reading fluency Reading confidence Reading enjoyment
2018 2019 2021
% schools
----- End of picture text -----

No data available for 2020

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Report of the Trustees - continued

In addition to reading improvement, schools report a number of significant secondary benefits to the children supported by a Schoolreaders volunteer such as improved selfesteem, confidence, social skills and relationship building. They also report the importance of our volunteers as role models. After this disrupted year, the stability of having an adult on a supportive one-to-one basis is proving even more valuable to many children than in previous years. The fact that the volunteer has chosen to support the child voluntarily is also reported as having a positive effect.

State of Primary School Reading Survey 2021

----- Start of picture text -----
100
75
50
25
Improved self-esteem Improved confidence Positive role models Social skills Developing relationships
% schools
----- End of picture text -----

Everyone wins in the Schoolreaders model: the children, schools, society generally and also our volunteers who report many personal benefits as a result of their volunteering. Respondents in our 2021 research reported that:

99% of volunteers would recommend becoming a Schoolreaders volunteer

77% report a positive outcome in being able to make a difference to the lives of others 47% felt an increased sense of wellbeing as a result of their volunteering 41% felt more part of their local community

89% rated their experience in school as good or excellent.

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Report of the Trustees - continued

School quotes

“ During the pandemic it has been our experience that writing has been most negatively impacted. Writing progress is directly linked with the reading as you need to read to be able to write. This is because parents struggle to support children with the different writing elements especially in an inner city school where parents’ education is varied. In reading it's the fluency which has been negatively affected especially further down school as many children didn't read to adults in lockdown. We have also found that our disadvantaged children, who already have bigger gaps, have fallen further behind as they didn't engage in home learning. - Partner School, West Yorkshire

We are desperate for any type of help. We “ would love in person however online would be greatly welcomed if that is all you can offer at the moment. We are a large school with children who are not always able to be heard to read at home as our EAL percentage is extremely high.

“ Schoolreaders has been excellent and we are so grateful to them and the volunteers. They have really contributed to the reading within our school. We hope to further our positive and productive relationship with Schoolreaders into the future. We are more than happy to welcome more volunteers to our school especially given the lockdown and children's drop in reading ability. - Partner School, Dorset

The Schoolreaders volunteer we have is “ really high quality with a broad and deep level of education and experience. This is really useful for us as it increases the diversity of the volunteers and staff we use to support reading, and there are benefits to having this calibre of recruit in school in terms of exposing the older children to someone with a different but equally successful career path who isn't a teacher.

The Schoolreaders Service has been “ invaluable in our school, and we have used it to help disadvantaged children, ensuring they have the opportunity to read outside of usual curriculum time. This has fed directly into improved ability with both reading and writing. The volunteers are well chosen and dedicated. The Schoolreaders scheme makes a significant difference to the education of our children.

The [Schoolreaders] scheme is fantastic. “ For some children who lack positive role models out of school or a broad experience then the volunteers provide so much more than just the reading. Their support this year has been invaluable.

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Report of the Trustees - continued

Volunteer quotes

“ It is a joy to be part of the school and to feel the vitality of those little souls, who seem so pleased to see me each week. One of the six year olds I help has hearing difficulties and has to wear hearing aids, which she clearly is a bit self conscious about, however I too have hearing aids and when I simply pulled mine out to show her that I understood and despite a 70 year difference in age we shared the same problem, following which she was completely relaxed and really tried very hard. To be 'high-fived’ by her after one really good session was a simply unequalled pleasure.

My experience has all been positive, great help “ from the School and especially the class T.A. I think my experience with special education has helped as along with the class T.A. we have identified children who have struggled that bit more, enabling us to work closer with these children. - Volunteer, Hertfordshire

I was concerned when asking children to come “ out of class to read they would be stigmatised/ embarrassed or teased by other children. To my delight it has been received as a positive thing and children, not on my regular list, often ask if they can come and read to me. - Volunteer, Hampshire

It's a joy and privilege to be helping our young ones with the basic foundations of learning and “ to foster a love of books and reading. Hopefully, this will enable a wider achievement in learning too. Most of all it's lovely and rewarding to see the children gain confidence and have a go at some new words and so lose any fear of ‘getting it wrong’. I try and make it fun and relaxing.

“ I have loved the experience … They have been so welcoming and the children have been keen to come to the sessions. I have been able to see the improvement in some of the children's reading fluency, comprehension and confidence. I have been especially pleased that different children have been volunteering to come to the reading sessions as they have seen how their peers have enjoyed them. - Volunteer, Derbyshire

I was very keen to start this volunteering … However, I “ was not ready for the huge lift this role has given me. The children are so nice and so funny… I make sure I give loads of praise and help them in a timely manner - not too soon, encouraging them to 'sound out', but not leaving them to struggle. I am disabled and have had to retire 15 years early. I have found a role; I am useful once again. - Volunteer, Lincolnshire

I think the selected children “ benefitted with a bit of 1-to-1 time. They were able to talk about issues related to reading matter and they became more confident at discussing emotions and issues we discovered in the stories. Comprehension is a big thing. Most can rote read, but a few have no real understanding of the big picture. - Volunteer, Bedfordshire

It has been wonderful - it is so “ rewarding to make an impact in such a small way on children's education but also their passion for learning and creativity.

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Report of the Trustees - continued

Support from our donors and funders Individual donors:

Literacy is the key foundation stone of education for every child in “ the country and Schoolreaders are a superb charity that supports volunteers going into schools to help young children to read. The reason I like Schoolreaders particularly is that good schools have very much a community focused emphasis and Schoolreaders is one of those great community initiatives where members of the community can get involved in schools, help children to read and that in turn helps the life chances of all those children. - Individual Supporter

I am proud to be a committed supporter of Schoolreaders. They make “ a huge difference to the lives of so many children. - Regular Donor

Trusts:

“ I am passionate about literacy, ever since I became aware that a cleaner in the NHS Trust where I worked could not read or write. Having recently read a book about the prison system, I was horrified by the high levels of illiteracy among offenders. I am so impressed by the work that you do, in such a costeffective way.

“ MK Community Foundation are proud to support a group that give young people the opportunity to learn and develop. This has become particularly important since the pandemic began. Schoolreaders help support issues that have come to our attention through our Vital Signs research around education and children’s mental health. Department for Education figures show that in 2020, more than 200,000 days of face-to-face teaching were missed in the autumn term alone, due to young people having to isolate or shield. Thank you to Schoolreaders for the amazing work you do.

“ The ability to read is fundamental to a child's progress and understanding. We support Schoolreaders because this charity is providing children with the chance to improve their future prospects and increase their opportunities in life by learning to read. - Educational Trust

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Report of the Trustees - continued

Companies:

“ Race for Reading was a great event and really well organised. It was fantastic to take part in something so fun that also raised money to directly help improve children’s literacy. - Maths Circle Ltd, Creators of Times Tables Rockstars and NumBots

“ We were delighted to sponsor RACE FOR READING in 2021. Improving reading skills is key to bringing important social and economic benefits to the communities in which we own logistics buildings. As a partner to Schoolreaders charity, we have seen first-hand the extent to which they are playing an integral role in helping to achieve that, and improving the long-term prospects of many of the UK’s most disadvantaged children. - Colin Godfrey – CEO, Fund Management, Tritax Big Box

With thanks to:

----- Start of picture text -----
The Rank Foundation Covid19 The Linder Foundation Heart of Bucks Community
Recovery Fund Foundation for Buckinghamshire
The Buffini Chao Foundation The Worshipful Company of Grocers
For Leicestershire
The J Reginald Corah
Foundation Fund
For Leicestershire and Rutland
The Harpur Trust Maths Circle Ltd Tritax Big Box
For Bedford Borough Creators of Times Tables Rockstars and NumBots
Funding from Essex Community The Jack Lane Charitable Trust Milton Keynes Community Foundation
Foundation For work in North Wiltshire and South This work has been supported by funding
T hrough the Chrysalis Fund Gloucestershire from MK Community Foundation
Funding from Suffolk Community The National Lottery Community Fund The Leicestershire and Rutland
Foundation Funding from the Coronavirus Community Foundation
Through Community Support Fund, distributed Through
- The Suffolk Coronavirus Community Fund by The National Lottery Community - The Wesleyan Foundation
- The Acorn Fund Fund, has helped us to support - The Leicestershire Fund
- The Birketts Fund children’s reading. Thanks to the
Government for making this possible.
----- End of picture text -----

Schoolreaders CIO for the year ended 31st August 2021

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Report of the Trustees - continued

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have complied with the Charities Act 2011 in determining the activities planned by the charity.

  1. The objectives of the charity are clear: to advance education by providing and assisting the provision of literacy support in such ways as the charity trustees think fit, including the provision of volunteers to primary schools to listen to pupils read and encourage their reading skills.

  2. All aims and activities undertaken are intended to further Schoolreaders’ charitable objectives.

  3. The people who receive support are entitled to do so according to the criteria set out in the charity’s objectives. All of Schoolreaders’ work is focused on its target beneficiaries: children.

Plans for 2021-2022

The significantly increased need for reading support for many primary school children who have now experienced eighteen months of disrupted education due to the pandemic provides Schoolreaders with the challenge to meet these needs in an effective and practical way. The disproportionate negative impact of disrupted education on children who were already disadvantaged, has resulted in a strategic focus towards providing our reading support to these doubly-disadvantaged children.

Schoolreaders has always prioritised schools and children in disadvantaged areas. However, this focus is going to be more acute in the year ahead. New school invitations to join the scheme will be targeted at those schools with more than 25% of children on Free School Meals and in the most deprived areas. Volunteer recruitment will reflect this and concentrate on securing volunteers to support these most disadvantaged children. It is understood that this will involve more time and therefore cost per child, but this is where the greatest need lies. We intend to reach these children and support their reading before the legacy of Covid becomes a lifelong one.

Objectives for the year ahead are as follows:

To remain responsive to any variations in the education landscape caused by the pandemic, to ensure that reading support can continue to be delivered either in school, digitally or via Schoolreaders Storytime.

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Report of the Trustees - continued

To retain safeguarding as a top priority of the organisation.

To provide 12,000 children with weekly one-to-one in-school reading support by August 2022 and prioritise the most disadvantaged children.

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Report of the Trustees - continued

To increase the resourcing of the charity to meet the strategic plan and monitor the growth.

To review long-term strategy

Structure, governance and management

Organisation structure

The charity is governed by a board of trustees who normally meet quarterly and attend an annual strategic planning meeting with the senior management team. During this year, with the continued disruption to education and due to the fast-moving changes concerning the impact of Covid-19, trustees and senior management team met monthly. The trustees are responsible for ensuring that the charity is well-managed and operates in line with its objectives, the law and its budget. When necessary, the trustees seek advice and support from the charity's professional advisers. A trustee can hold office for a period of three years and may be re-appointed if they remain appropriately qualified for the role.

There is a senior management team of five (including a trustee and supported by a consultant) who manage and run the charity on a daily basis including: operations, education, fundraising, volunteer management, marketing and PR, finance, design and IT. There are a number of specialist advisors and sub-committees supporting the operation.

The charity is very volunteer weighted and benefits from volunteer support ranging from trustee and advisory roles to executive involvement, county-centric planning and operations, and of course our Schoolreaders volunteers, without whose commitment and time none of the operation would happen.

Schoolreaders is registered with the Fundraising Regulator and follows their Fundraising Code of Practice. Our governance and compliance processes include the protection of personal data under GDPR regulations. We are extremely grateful for all of the support we receive and treat our donors with respect, being mindful never to put undue pressure on them during our interactions. We do not undertake any cold-calling fundraising.

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Report of the Trustees - continued

Key management personnel

The board considers that the CEO and senior management team are in charge of directing and operating the charity on a day-to-day basis. Salary and remuneration of key personnel is reviewed annually in line with industry benchmarking.

Recruitment and appointment of new Trustees

The identification of potential new trustees is carried out by the board, the aim being to appoint those with the appropriate expertise and experience for the charity's work. New trustees are appointed in line with the Safer Recruitment process and are thoroughly briefed on the history of the charity, the responsibilities of the trustees, current objectives, future plans and the day-to-day management.

Risk management

The trustees have identified and assessed the principal risks to which the charity may be exposed and are satisfied that there are strategies and procedures in place to monitor and mitigate these risks as far as possible.

A risk register and map is maintained, measuring the weight and likelihood of a risk occurring. In a normal year this is reviewed regularly by the senior management team and by the trustees. However, this year, during the pandemic, key risks have been reviewed on a regular basis at trustee and senior management level in order to respond to the fastchanging scenarios. Actions are taken where required to mitigate levels of risk.

The principal risks that have been identified and assessed regularly are:

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Report of the Trustees - continued

Financial review

Financial summary

There was a net increase in funds for the year of £180,300 (2020 £196,167). Income for the year was £544,873 (2020 £505,883). Total expenditure for the period was £364,573 (2020 £309,716). At the end of the financial year unrestricted reserves are £424,709 (2020 £329,348). Of these, free reserves are £385,836 (2020 £239,779).

Donated services

Schoolreaders has benefitted greatly from the kindness and generosity of many people and organisations who have given their time, expertise and wisdom across a variety of disciplines and areas of operation allowing the organisation to thrive. We are extremely grateful to each and every one. Our very high volunteer to staff ratio of 200:1 means that we are able to operate in a highly cost efficient manner with low overheads. The combined value of our volunteers’ time at every level of the organisation is inestimable.

Reserves policy

The trustees keep the reserves policy for the charity under review in light of its growth, future plans and financial risks. The reserves target set in 2020 is to maintain free reserves at between six and nine months’ average budgeted operating costs. These reserves include only realised unrestricted reserves and therefore exclude restricted or other designated funds or grants pledged but not yet received. Free reserves at 31st August 2021 were equivalent to just over seven months’ average operating costs for the forthcoming year. The decision to maintain our reserve requirements was agreed during the current uncertain times to ensure the charity has further resilience to navigate the unknown future economic landscape.

Impact of Covid-19

The pandemic of Covid-19 has continued to have a significant impact on people, organisations and societies across the world. The trustees continue to carefully monitor the situation and follow the applicable guidance issued by the UK Government and considers the charity to be well-equipped to react to future economic uncertainty due to both diligent financial planning and a robust business model.

The pandemic represents a condition existing at the balance-sheet date however the trustees continue to carefully consider the impact of this on the measurements of assets and liabilities in the financial statements and conclude that no adjustments are required.

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Report of the Trustees - continued

Statement of Trustees’ responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, 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 trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website.

On behalf of the Board:

Jane Whitbread, Trustee 30th March 2022

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28

Report of the Independent Examiner

I report on the accounts for the year ended 31 August 2021 set out on pages thirty to forty-two.

Respective responsibilities of Trustees and Examiner

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(2) of the Charities Act 2011 (the Charities Act)) and that an independent examination is required.

It is my responsibility to:

Basis of the Independent Examiner's report

My examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.

Independent Examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

C Airey FCCA of George Hay Partnership LLP Chartered Accountants Brigham House, 93 High Street Biggleswade, Bedfordshire SG18 0LD

Signed: Date: 12th April 2022

Schoolreaders CIO for the year ended 31st August 2021

29

Statement of Financial Activities

For the year ended 31st August 2021

Year ended
2021
2021
2021
Unrestricted
Restricted
Total Funds
£
£
£		 Year ended
2020
Total Funds
£
Note
Income
Grants & donations
2
Fundraising events
2
Gift Aid
2
Interest income
Income from other trading activities
3
Other income
4
181,607
293,265
474,872
48,093
10,000
58,093
8,880
-
8,880
43
-
43
1,770
-
1,770
1,215
-
1,215		 460,468
33,515
7,967
431
-
3,502
Total income 241,608
303,265
544,873		 505,883
Expenditure
Raising funds
5
77,637
32,406
110,043		 88,422
Charitable activities
6		 68,610
185,920
254,530		 221,294
Total expenditure
146,247
218,326
364,573		 309,716
Net income and net movement
in funds for the year		 95,361
84,939
180,300		 196,167
Reconciliation of Funds
Total funds brought forward 329,348
85,416
414,764		 218,597
Total funds carried forward 424,709
170,355
595,064		 414,764

Schoolreaders CIO for the year ended 31st August 2021

30

Comparative Statement of Financial Activities

For the year ended 31st August 2020

Year ended
2020
2020
2020
Unrestricted
Restricted
Total Funds
£
£
£		 Year ended
2019
Total Funds
£
Note
Income
Grants &donations
2
Fundraising events
2
Gift Aid
2
Interest income
Other income
3
315,005
145,463
460,468
33,515
-
33,515
7,967
-
7,967
431
-
431
3,502
-
3,502		 331,666
1,026
6,177
327
-
Total income 360,420
145,463
505,883		 339,196
Expenditure
Raising funds
4
81,030
7,392
88,422		 54,255
Charitable activities
5		 80,375
140,919
221,294		 210,546
Total expenditure 161,405
148,311
309,716		 264,801
Net income and net movement
in funds for the year		 199,015
(2,848)
196,167		 74,395
Reconciliation of Funds
Total funds brought forward 130,333
88,264
218,597		 144,202
Total funds carried forward 329,348
85,416
414,764		 218,597

Schoolreaders CIO for the year ended 31st August 2021

31

Balance Sheet

At 31st August 2021

2021
2021
Unrestricted
Restricted
£
£		 2021
Total Funds
£		 2020
Total Funds
£
Note
Fixed assets
Tangible fixed assets
11
11,401
-		 11,401 4,569
Current assets
Debtors
12
Stock
Cash at bank and in hand
13
32,150
13,720
2,096
-
388,143
170,194		 45,870
2,096
558,337		 145,149
-
294,335
422,389
183,914		 606,303 439,484
Creditors
Amounts falling due within one year
14
9,081
13,559		 22,640 29,289
Net current assets 413,308
170,355		 583,663 410,195
Total assets less current liabilities 424,709
170,355		 595,064 414,764
Net assets 424,709
170,355		 595,064 414,764
Funds
Unrestricted funds
15
Restricted funds
15
424,709
170,355		 329,348
85,416
Total funds 595,064 414,764

The financial statements were approved by the Board of Trustees on 30th March 2022 and were signed on its behalf by:

Jane Whitbread, Trustee

Schoolreaders CIO for the year ended 31st August 2021

32

Statement of Cash Flows

For the year ended 31st August 2021

2021
Total Funds
£		 2020
Total Funds
£
Note
Cash fows from operating activities:
Net cash provided by (used in) operating activities
13
273,368
273,368		 142,064
142,064
Cash fows from investing activities:
Interest
Purchase of property, plant and equipment
11
43
(9,409)
(9,366)		 431
(3,398)
(2,967)
Change in cash and cash equivalents in reporting period 264,002 139,097
Cash and cash equivalents at the end of the reporting period 558,337 294,335

Schoolreaders CIO for the year ended 31st August 2021

33

Notes to the Financial Statements

For the year ended 31st August 2021

1. Accounting Policies

Basis of preparation

The financial statements have been prepared under the historical cost convention in accordance with the Statement of Recommended Practice. The charity meets the definition of a public benefit entity under FRS 102.

Statement of compliance

The financial statements have been prepared in accordance with 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) (second edition - October 2019) (effective 1 January 2019) – (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011).

Going concern

The accounts have been prepared on a going concern basis. The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern and have confidence that the current operating model and reserves level retained are sufficient to mitigate the potential impact of the continuing Covid-19 situation.

Income

All income, including grant income receivable in future accounting periods, is included on the Statement of Financial Activities when the charity is entitled to the income, it is probable that it will be received, and the amount can be quantified with reasonable accuracy.

Expenditure and allocation and apportionment of costs

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Fundraising costs are those costs attributable to generating income for the charity. The costs of charitable activities comprise all costs incurred in the pursuit of the charitable objectives of the charity. Support costs are those costs which do not relate to a single activity and have been apportioned between fundraising costs and charitable activities on a basis consistent with the use of resources.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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34

Notes to the Financial Statements - continued

For the year ended 31st August 2021

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Tangible assets

Tangible assets are initially recorded at cost (or donated value) and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures, fittings and equipment – 3 years straight line.

Stock

Stock is valued at the lower of cost and net realisable value.

Debtors

Debtors are recognised at their settlement amount, less any provisions for nonrecoverability. Prepayments are valued at the amount prepaid. They are discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Liabilities & creditors

Liabilities & creditors are recognised when the entity has an obligation to transfer economic benefits as a result of past transactions or events.

Pension costs

The Charity contributes to a defined pension contribution scheme for the benefit of its employees. Contributions are recognised in the financial statements when due.

Schoolreaders CIO for the year ended 31st August 2021

35

Notes to the Financial Statements - continued

For the year ended 31st August 2021

2. Voluntary income

2.
Voluntary income
Year
31.08.21
Total
Funds
£
406,603
68,269
474,872
58,093
8,880
541,845		 Year ended
31.08.20
Total
Funds
£
391,105
69,363
Unrestricte
Funds
£
129,264
52,343
181,607
48,093
8,880
238,580		 Restricted
Funds
£
277,339
15,926
293,265
10,000
-
303,265
Grants
Donations
Grants and donations
Fundraising events
Gift Aid
460,468
33,515
7,967
501,950

Grants received and due, included in the above, are as follows:

The National Lottery Community Fund
Jack Lane Charitable Trust
Leicestershire Community Foundation
Buffini Chao Foundation
The Worshipful Company of Grocers
Milton Keynes Community Foundation
The Rank Foundation
The Linder Foundation
J Reginald Corah Foundation Fund
Funding from Suffolk Community
Foundation through :
- The Suffolk Coronavirus Community Fund
- The Acorn Fund
- The Birketts Fund
Funding from Essex Community
Foundation through the Chrysalis Fund
Heart of Bucks Community Foundation
Other		 -
-
-
-
5,000
-
22,000
10,000
-
-
-
-
-
-
-
92,264
129,264		 20,000
500
3,000
5,000
-
1,500
-
-
750
-
5,000
5,000
5,000
5,000
5,000
221,589
277,339		 20,000
500
3,000
5,000
5,000
1,500
22,000
10,000
750
-
5,000
5,000
5,000
5,000
5,000
313,853
406,603		 -
-
-
-
-
-
-
-
-
-
-
-
-
5,000
-
386,105
391,105

Schoolreaders CIO for the year ended 31st August 2021

36

Notes to the Financial Statements - continued

For the year ended 31st August 2021

3. Income from other trading activities

Year ended
31.08.21		 Year ended
31.08.20
Total
Funds
£
-
Year ended
31.08.20
Unrestricted
Funds
£
1,770		 Restricted
Funds
£
-		 Total
Funds
£
1,770
Sales of Christmas cards
4.
Other income		 Year ended
31.08.21
Unrestricted
Funds
£
1,215		 Restricted
Funds
£
-		 Total
Funds
£
1,215		 Total
Funds
£
3,502
Income received through
Coronavirus Job Retention
Scheme
5.
Raising funds		 Year ended
31.08.21		 Year ended
31.08.20
Total
Funds
£
88,422
Unrestricted
Funds
£
77,637		 Restricted
Funds
£
32,406		 Total
Funds
£
110,043
Preparation of funding
applications and monitoring,
events and other costs

Schoolreaders CIO for the year ended 31st August 2021

37

Notes to the Financial Statements - continued

For the year ended 31st August 2021

6. Charitable activities

Year ended
31.08.21
Total
Funds
£		 Year ended
31.08.20
Total
Funds
£
Unrestricted
Funds
£		 Restricted
Funds
£
Provision of Schoolreaders
service:
Service delivery
Service management
Financial management
Office and other staff costs
Printing & marketing
Computer & database costs
35,124
10,626
3,416
4,146
3,790
5,031		 106,165
27,758
5,021
23,769
6,050
7,637		 141,289
38,384
8,437
27,915
9,840
12,668		 111,921
54,787
6,490
22,688
6,053
6,016
Governance costs:
Financial management
Insurance
6,067
410
68,610		 8,916
604
185,920		 14,983
1,014
254,530		 12,491
848
221,294

7. Expenditure analysis

7.
Expenditure analysis
Raising
funds
£		 Schoolreaders
service
£		 Support
£		 Governance
£		 Total
£
Service delivery
Service management
Financial management
Office and other staff costs
Printing & marketing
Computer & database costs
Events & other fundraising costs
Insurance		 56,851
15,229
-
4,990
3,183
1,321
12,635
-
94,209
8,919
6,915
110,043		 133,639
38,385
-
25,698
9,840
10,341
-
-
217,903
20,630
15,997
254,530		 10,958
-
12,084
3,174
-
3,333
-
-
29,549
(29,549)
-
-		 -
-
21,460
-
-
-
-
1,452
22,912
-
(22,912)
-		 201,448
53,614
33,544
33,862
13,023
14,995
12,635
1,452
364,573
0
-
Support costs
Governance costs
Total expenditure
364,573

8. Net income

Net income is stated after charging:

Net income is stated after charging:
8.
Net income
£
2,231
1,800
Depreciation
Independent Examiner fees
4,031

Schoolreaders CIO for the year ended 31st August 2021

38

Notes to the Financial Statements - continued

For the year ended 31st August 2021

9.

The average number of employees in the year was 10 (2020 - 8). No employees had emoluments in excess of £60,000 (2020 - none). Total employment benefits of key management personnel were £43,720 (2020 £31,175). Total staff costs paid in the year are as follows (2020 - £172,094):

£
194,501
10,574
4.037
Gross salaries
Social Security costs
Pension contributions
209,112

10.

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 (2020 £Nil). Trustees' expenses amounting to £Nil were paid during the year ended 31 August 2021 (2020 £Nil).

11. Tangible assets

Cost
At 1 September 2020
Additions
At 31 August 2021		 £
6,746
9,409
(462)
15,693
Depreciation
At 1 September 2020
Disposals
Charge for the year
At 31 August 2021
2,177
(116)
2,231
4,292
Carrying Amount
At 31st August 2021
11,401
At 31st August 2020 4,569

Schoolreaders CIO for the year ended 31st August 2021

39

Notes to the Financial Statements - continued

For the year ended 31st August 2021

12. Debtors
Debtors and accrued income		 Unrestricted
Funds
£
32,150		 Restricted
Funds
£
13,720		 Total Funds
31.08.21
£
45,870		 Total Funds
31.08.20
£
145,149

£35,000 is included in debtors as accrued grant income receivable in the year ending 31 August 2022.

13. Reconciliation of net income (expenditure) to net cash flow from operating activities

2021
Total Funds
£
180,300		 2020
Total Funds
£
196,167
Net income/(expenditure)
Adjustments for:
Depreciation charges
Loss/(profit) on disposal of fixed assets
Interest
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
2,231
347
(43)
(2,096)
99,279
(6,649)		 1,664
0
(431)
0
(60,657)
5,321
Net cash provided by/(used in) operating activities
Analysis of cash and cash equivalents		 273,368
2021
Total Funds
£
558,337		 142,064
2020
Total Funds
£
294,335
Cash in hand
Total cash and cash equivalents 558,337 294,335

14. Creditors: amounts falling due within one year

Unrestricted
Funds
£
9,081		 Restricted
Funds
£
13,559		 Total Funds
31.08.21
£
22,640		 Total Funds
31.08.20
£
29,289
Creditors and accruals

Schoolreaders CIO for the year ended 31st August 2021

40

Notes to the Financial Statements - continued

For the year ended 31st August 2021

15. Movement in funds

15. Movement in funds 15. Movement in funds
Net movement
in funds
£
At 31.08.20
£		 At 31.08.21
£
Unrestricted funds
General fund
329,348 95,361 424,709
Restricted funds
Total
85,416 84,939 170,355
TOTAL FUNDS
Balance at
31.08.20
£
Unrestricted funds
329,348
Net movement in funds, included in the above, a		 414,764
Income
s follows:		 180,300
Expenditure		 595,064
Balance at
31.08.21
£
424,709
12,540
460
-
1,898
5,294
6,719
6,667
-
75,000
807
802
60,168
170,355
595,064
re a
£
241,608		 £
(146,247)
Unrestricted funds
Restricted funds:
Bedfordshire
Essex
Northamptonshire
Norfolk
Leicestershire
Bristol
Staffordshire
Other Counties
Future expansion
Staff wellbeing
Rent
Operations Coordinators
20,000
2,096
139
1,516
-
-
-
-
-
-
6,496
55,169		 6,200
15,000
2,967
11,250
14,375
10,000
10,000
76,153
75,000
2,000
12,567
67,753		 (13,660)
(16,636)
(3,106)
(10,868)
(9,081)
(3,281)
(3,333)
(76,153)
-
(1,193)
(18,261)
(62,754)
Total restricted funds 85,416 303,265 (218,326)
TOTAL FUNDS 414,764 544,873 (364,573)

Included in reserves at 31 August 2021 is £35,000 of accrued grant income receivable in the accounting period ending 31 August 2022.

Schoolreaders CIO for the year ended 31st August 2021

41

Notes to the Financial Statements - continued

For the year ended 31st August 2021

16. Related party transactions

E J Scott, consultant, who provides database and operations development and fundraising support received £36,993 in respect of the year (2020 £51,243) and is related to a former Trustee, M J Scott. Donations without conditions received from related parties in the year totalled £32,148 (2020 £27,368).

17. Financial commitments

Financial commitments at 31 August 2021 amounted to £3,619 (2020 £7,649).

18. Events after the end of the reporting period

The pandemic continues to represent a condition existing at the balance sheet date however the trustees continue to carefully consider the impact of this on the measurements of assets and liabilities in the financial statements and concluded that no adjustments are required.

Schoolreaders CIO for the year ended 31st August 2021

42

Schoolreaders

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