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2022-08-31-accounts

Schoolreaders 2022 Annual Report

Report of the Trustees and Independently Examined Financial Statements for the year ended 31 August 2022 for Schoolreaders CIO

www.schoolreaders.org Registered Charity: 1159157

EXCSoFA

Contents of the Annual Report For the year ended 31st August 2022

----- Start of picture text -----
Report of the Trustees 1
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
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All images © Schoolreaders

Schoolreaders CIO for the year ended 31st August 2022

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 Lucinda Copeman - reappointed 28/2/23 Nicholas Froy - appointed 10/8/22 Alice Garnett - appointed 8/10/21 Rory Landman S. Alexandra Moore - resigned 23/11/21 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 CAF Bank Ltd SG18 0LD 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Governing document

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

Schoolreaders CIO for the year ended 31st August 2022

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Report of the Trustees - continued

Chair’s Report

Following two years of pandemic-related disruption to education, which particularly impacted the most disadvantaged children, Schoolreaders was able to rebuild its vital one-to-one in-school reading support throughout the year. The Omicron variant of Covid-19 caused some disruption during the autumn term, however on the whole it was a year of building back with an increased focus on reaching the most disadvantaged children. As schools tried to provide the catch-up support needed by so many children to become confident readers, the demand for our volunteers increased many fold.

By the end of the year over 10,000 children were being supported in 608 schools across the nation with a one-to-one reading support session every week with a Schoolreaders volunteer. The charity is the largest in-school reading support charity in the country, reaching the most children with its proven, simple, cost-effective and highly scalable model. We remain a free provision for schools so that all children have the opportunity for this life-changing support. Our strategy of focusing on reaching the most disadvantaged children in the most deprived areas was successful. Of the 720 new volunteers placed this year, 41% were placed in the most deprived areas.

21/22 Headline facts

At year end, 10,100 children in 608 schools were receiving weekly reading support

Schoolreaders is now the largest in-school reading support charity in the country, supporting more children individually every week

237,190 reading sessions provided in 2021-22

1.5m reading sessions delivered since launch in 2013

One in seven primary schools in England has requested a Schoolreaders volunteer

Strategy of reaching many more disadvantaged children implemented (48% of children supported were on pupil premium, versus national average of 23%)

Cost of just £52 to provide a child with reading support for an academic year

87% of children increased their reading age specifically as a result of a Schoolreader’s support over one term, and 100% of children improved as a result of support over three terms

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Report of the Trustees - continued

Our simple model, with the high ratio of volunteers to staff of 130:1, means that we are highly cost-effective and can therefore reach many more children with our funding. Every £1 invested with the charity is leveraged several-fold. The approximate cost of providing a child with an individual reading support session every week of the school year was just £52 for the entire year*. This was slightly higher than previous years due to the additional time required placing our volunteers back into schools following school closures. It is also more time-consuming recruiting the schools and volunteers for the most deprived areas. With economies of scale, it is anticipated that the average cost will drop by approximately 20% in the next academic year to £42 per child per year.

Impact and Outcomes

Our annual impact and outcomes research, in partnership with the Institute for Research in Education at the University of Bedfordshire, once again showed outstanding results and confirmed the very significant impact of what we do. Schools deploy our volunteers for differing lengths of time depending on the support needs of the individual children. 87% of the children supported during the year increased their reading age specifically due to Schoolreader’s support; of those children supported for the full year 100% increased their reading age. In addition, 93% increased their reading confidence, 87% their reading enjoyment, 76% their reading fluency, and 68% benefitted from improved self-esteem.

An interesting change on previous years is that the average time that our volunteers give has increased from 2.4 to 2.8 hours per week. This, combined with the fact that our volunteers commit to a minimum of a year, means that each volunteer is highly committed and they are able to build excellent long-term relationships with their school communities. This is extremely valuable to the schools and important for many of the children supported. It also means that schools are able to tailor the amount of support that each child gets per volunteer around the needs of the child. Schoolreaders does not prescribe the way that the volunteers are deployed. We believe that the teaching staff are the experts and know best their children’s individual needs. Our annual research confirms the efficacy of this model through the reading attainment, confidence, fluency and reading enjoyment results.

Disadvantaged children

The impact of the pandemic’s disruption to education on children’s reading has been assessed by a number of research bodies. 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. This has now worsened amongst the most disadvantaged 1 groups of children (those on Pupil Premium).

  • Cost calculated by full costs of year divided by number of children receiving weekly support at end August 2022. This makes allowance for volunteers who may have withdrawn and those that are at various stages of on-boarding.

1 UK Government Statistics at Key Stage 2. Updated Dec 2022

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Report of the Trustees - continued

The children that have been impacted the most are the 6-7 year olds. Only 51% of disadvantaged children in this age range are now reading at the expected level. 2 The majority of our partner schools place our volunteers with children in these year groups, thereby helping them to catch up on reading skills and enabling them to take advantage of their broader primary school education.

32% of Schoolreaders volunteers are former educational professionals and support staff i.e. headteachers, teachers, governors and teaching assistants. Whilst this is not a requirement to become a Schoolreaders volunteer, and training is provided for all volunteers by our partner schools and with Schoolreaders’ own training platform, it is encouraging that the value of the Schoolreaders’ scheme is recognised and supported by so many qualified education professionals.

Recent Government statistics show that only 10% of disadvantaged children who leave primary school not reading to the expected level will achieve a pass at GCSE in English 3 and Maths. We will continue to prioritise supporting these disadvantaged children with the aim that they will leave primary school able to read well and thereby able to access their secondary school education and life’s opportunities. Without reading, they will find it hard to access learning, and their chances and fulfilment in life will be severely compromised.

Collaborations

We continued to work with literary festivals around the country providing the opportunity for hundreds of children to attend to meet leading children’s authors and listen to readings of their stories. Thanks to the generous gift from Moonlight Publishing we were able to provide 125 schools in the 20% most deprived areas of the country with high quality Key Stage 1 encyclopedias and books from the First Discovery Series at a total value of £23k. We worked alongside local community groups and sports teams to increase reach to the most disadvantaged children, building on existing networks. A number of our volunteers supported children’s reading throughout the school holidays through collaborations we set up with local holiday clubs.

Resource and development

A major new change this past year has been the development of the Business Support team, including IT, HR and Compliance. With the extremely professional and valuable pro-bono help of a consultant from the Cranfield Trust, a project was undertaken to assess our current needs and to future-proof the organisation with the correct business support resourcing and services. This has now been completed and the structure of the charity is more robust and efficient as a result.

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Report of the Trustees - continued

Our fundraising resource has also been strengthened in order to help raise the funding required to run an expanded operation to help meet the increase in demand for our many reading volunteers.

Finance

Income for the year was £564,836 (£544,873 in 2021) and expenditure was £524,495 (£364,573 in 2021). Free reserves represent 8.2 months of budgeted operating costs for 2022/23, which is in line with the reserves policy of 6 to 9 months.

Thank you

We are indebted to thousands of supporters who have continued to volunteer and to fund us throughout the pandemic, with some funders providing double their normal support during these difficult years. As a result, Schoolreaders is in a strong position, with a healthy level of reserves in line with our reserves policy. The security this provides will enable us to continue developing in line with our growth strategy. We believe we must reach the children needing the vital provision of reading support before it is too late. A number of individuals and grant-makers have also committed to ongoing support and made advance pledges which provide us with the confidence to plan for the future.

The children can only be reached thanks to the selfless time and dedication provided by the 1,000+ Schoolreaders volunteers who are in school every week. Over 10,000 children will have improved opportunities and life outcomes as a result of the weekly support our volunteers have provided this year. Our volunteers deserve enormous gratitude for their time and commitment of a minimum of a year’s support. Schools find this long-term, sustained presence an enormous benefit both to the school and to the individually-supported children, who develop a trusting relationship with the volunteers over time. Our volunteers become part of their school community.

Lastly, thank you to our home team: our excellent staff, who are themselves committed to changing the state of poor child literacy in our nation; our valuable county team volunteers who give so much time and skill to support the charity; and to our excellent board of trustees for navigating the challenges of the past two years so well.

Supporters frequently comment on the quality and balanced skills and expertise of the Schoolreaders Trustee Board.

The future

Schoolreaders is in an excellent position as we move into the new year, during which we will reach our 10th anniversary. Since Schoolreaders started 9 years ago, our volunteers have delivered an estimated 1.5 million individual reading support sessions to children! Over this period we have been able to develop our model in consultation with educational experts and demonstrate impact and outcomes with annual research

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Report of the Trustees - continued

with the Institute of Research in Education. We have also been able to develop the structure and resource of the charity so that we are in a robust position, ready to expand strategically to meet the enormous need and demand for our service. Our plans for the 2022/23 academic year include growth to reach 18,000 children every week, with a strategic focus to reach the most disadvantaged children.

As the child literacy charity providing the most children in school with weekly one-toone reading support, it was a privilege recently to be invited to appear on BBC Breakfast television alongside a volunteer and well-known children’s author Michael Rosen to encourage more in-school volunteering from the public. This has been followed by a further 600 new volunteer applications.

We are looking forward to the future and anticipate providing over 500,000 individual one-to-one reading sessions to children in school over the 2023/24 academic year.

Jane Whitbread Chair of Trustees, March 2023

“ Thank you so much for supporting us with the most disadvantaged children who get limited opportunities to read at home. This will really help improve life chances and give children the motivation to feel they can succeed. - Waterman Primary, Essex

“ I'd like to thank you for the excellent service and great volunteers we have. Our school recently scored 97% in our SATs Reading paper - the highest in our county. We feel that we are a community of readers and the volunteers make a huge contribution to the children's success. Thank you

Schoolreaders CIO for the year ended 31st August 2022

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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 2022. 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 pandemic, 1 in 4 1 children were leaving primary school in England not reading to the expected level. This concerning statistic has worsened due to the education disruption caused by the 1 pandemic. Children who cannot read properly on entering secondary school cannot access their education properly and will 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 frequently at school if the child needs additional catch up support. For the past nine years Schoolreaders has been placing volunteers into primary schools to listen to children read. Volunteers are assessed, interviewed and provided with support for this role. The service is free to schools in order to ensure that reading support is available to all children. This is particularly important as school budgets are under increasing pressure.

The scheme is simple, effective, proven (as measured by our annual impact research with the Institute of Research in Education), cost-efficient and easy to roll out and scale-up. One in seven primary schools in England have registered with Schoolreaders requesting our volunteers. Schoolreaders is supporting more children face-to-face every week than any other in-school literacy charity. By the end of the school year (July 2022), over 10,000 children across the nation were receiving an individual reading support session every week. This figure continues to grow and currently (as at March 2023) we are providing support to over 15,000 children.

Reading support for children is needed more than ever. For example, literacy amongst six to eight year olds in England has declined to the lowest level in almost a decade following the disruption caused by the pandemic, with a drop from 75% in 2019 to 67% in 2022 of Key Stage 1 children reaching the expected standard of reading in SATs. 2 The most disadvantaged children in this age group have been even more affected. Only just over half, 51%, reached their expected reading attainment level, down from 62% in

Schoolreaders CIO for the year ended 31st August 2022

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Report of the Trustees - continued

1 2019 pre-pandemic. This widening of the attainment gap between disadvantaged pupils and their peers underpins Schoolreaders’ strategy to focus on reaching the most disadvantaged children with vital reading support before their long-term attainment is affected. Sadly, the longer term effect can be seen in a recent government statistic showing that only 10% of disadvantaged (pupil premium) children that leave primary 2 school not reading properly achieve a pass in English and Maths at GCSE.

Everybody benefits from the Schoolreaders scheme: the children, the school, the volunteer, the community and society itself. Improving child literacy will ultimately result in improved adult literacy. Poor adult literacy in England is a very real issue. Currently 3 one in seven adults in England is considered poorly literate, which means they are unable to read a bus timetable, a medicine packet or fill in a job application form. Poor literacy also contributes to some of society’s other major issues such as unemployment, homelessness, poverty, mental and physical health and crime (57% of England’s prisoners have a reading age of an 11 year old or less ). 4

Face-to-face volunteering

Our partner schools have confirmed that their preference, by far, is for face-to-face inschool volunteers. They report that the physical presence in school is important in helping the volunteer to develop a relationship and trust with the children. They particularly value the long-term commitment of the volunteers (who agree to a minimum of a year) as some children need long term support. This also enables the volunteers to become a part of the school community.

Volunteers are recruited from the local community, are interviewed and assessed, and undertake an on-boarding programme. All partner schools agree to provide their safeguarding training and undertake the enhanced DBS clearance for the volunteers prior to the volunteers starting in school. The schools also provide reading support guidance and training tailored towards the children that the volunteer will be supporting. All volunteers complete mandatory Schoolreaders safeguarding guidance and have access to best practice reading support training and specialist tutorials in supporting children’s reading at Key Stage 1 and Key Stage 2, which include additional resources such as phonics training.

Volunteers listen to children read in school on a one-to-one basis every week. Each school deploys the volunteers in accordance with the needs of the individual children in the school. Each school has different needs and it is not a ‘one size fits all’ for each child.

Schoolreaders CIO for the year ended 31st August 2022

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Report of the Trustees - continued

The school educational professionals are best placed to know their children’s needs. Volunteers join the scheme on the basis of supplying a minimum of one hour per week but the majority give a great deal more time. On average a Schoolreaders volunteer gives 2.8 hours per week throughout the academic year.

We continue to support both our partner schools and our volunteers as their partnership progresses with termly communications, volunteer support forums, newsletters, mediation if necessary, and any ad hoc needs.

Digital volunteering

Digital volunteering was trialled during the pandemic. It had mixed success and involved significant resource on the part of the schools. A survey of our partner schools showed that 99% consider in-school volunteering to be the ‘gold standard’ and most effective form of one-to-one reading support. In addition to reading improvement it provides easier relationship building leading to increased enjoyment of reading and levels of selfesteem for the children. We have the ability to revert to digital volunteering if the environment requires it but will continue to promote face-to-face volunteering in the first instance wherever possible.

Achievement and performance

Over the 9 years since its inception in 2013, Schoolreaders has used a strategic approach to the charity’s growth, keeping overheads down where possible and steadily growing its structure as it extends its reach to more children in more areas of the country. Apart from the disrupted years of the pandemic (during which alternative digital strategies were employed) the growth has been steady and underpinned with sustainable resource. The next part of the corporate structural development took place this year with the engagement of the Cranfield Trust who provided pro-bono expertise to develop the business support function for the charity. This was an extremely successful partnership: the business support function is now fully resourced, and the Cranfield Trust has continued to support the charity on work in other areas.

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Report of the Trustees - continued

Objective Performance
To provide 12,000 children with weekly • 10,100 children received one-to-one weekly face-to-face
reading support by end August 2022 support in school by the end of August 2022.
and prioritise the most disadvantaged • The original target of 12,000 was not achieved due to the
children. Omicron variant preventing volunteers being in school during
parts of the autumn and spring terms. An additional factor was
that fewer than expected pre-pandemic volunteers were able
to return to their partner schools, so recruiting new volunteers
became the priority for the academic year.
• It is more challenging to place volunteers in schools in
deprived areas which are often stretched managerially.
To implement a new deprivation strategy
in order to prioritise schools and children
from disadvantaged areas of greatest
need.		 • Achieved and implemented during the year. 41% of new
volunteers placed met the Schoolreaders deprivation criteria.
This was successfully carried out by maximising the number of
volunteer matches with schools in areas of high deprivation
and providing additional support where needed to ensure
volunteers are able to start as soon as possible.
County development as part of • The county teams’ purpose, structure and effectiveness was
Schoolreaders organisational plan and reviewed. Additional capacity was recruited to provide extra
future expansion. support in key counties for volunteer recruitment, awareness
raising and events.
To further develop systems and • Expanded and updated the Volunteer Management Plan.
efficiencies in the operational delivery of • Streamlined the DBS school confirmation process.
the volunteering process to improve • Updated mandatory safeguarding training on-line
delivery against targets and adapt to programme.
changes in the academic landscape. • Retained the options of a remote digital solution and
Storytime, both of which were adaptations in response to
closed schools during the pandemic, in case of future need.
To monitor the continued impact and • Carried out the fourth annual school and volunteer end of
effectiveness of the provision and take year impact survey in partnership with the Institute of Research
any learning to evaluate the model. in Education with a high return rate (>35%) and engagement
from partner schools. Followed up all feedback requiring
action and used the information to further improve the offer to
schools.
• Carried out the annual volunteer end of year impact survey
with extremely high response rate of 580 volunteer
respondents from the cohort. Followed up with all volunteers
requiring action.

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Report of the Trustees - continued

Objective Performance
To retain safeguarding as a top priority of the • Safeguarding was a fixed agenda item and
organisation. reported on at every Senior Management, Trustee
and Education and Safeguarding Advisory Group
Meeting.
To increase the resourcing of the charity to meet • A pro-bono partnership with the Cranfield Trust
the strategic plan and growth of the charity. was extremely successful in reviewing the charity’s
corporate structure and identifying the needs to
future-proof it in light of anticipated increased
demand and growth. In particular, the Business
Support element of the charity was reviewed and
additional resourcing identified. This resourcing has
now been filled, again with the help of the
Cranfield Trust.
• Several new appointments were made during the
year following a ‘freeze’ on recruitment during the
pandemic years.
• New appointments include:
- 2 new Senior Operations Co-ordinators
- Fundraising Key Relationship Manager
- Head of Business Support
- IT and Systems Executive
To further develop the fundraising strategy and • A new comprehensive fundraising strategy was
ensure a financially sustainable model. developed and resources recruited in order to
implement it.
• All fundraising targets were met.
• New multi-year funders made commitments.
• Reserves were increased to remain in line with
the 6-9 months of expected operating costs.
Liaise with other literacy charities and education- • Other literacy charities were contacted to discuss
related bodies to ensure a joined-up response and areas of collaboration and signposting.
combine resource where possible. • Collaborations with other community groups and
literary festivals continued eg. Oxford, Cambridge
and Booktastic, enabling them to reach more
children.
• Participation with the Fair Education Alliance
conferences and working groups.

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Report of the Trustees - continued

Impact and outcomes Number of children supported

Number of one-to-one reading sessions, 2013 to 2022

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To date, our volunteers
have given 1.5 million
individual reading sessions
> 500,000
302,850
272,570
237,190
182,290
75,220
5,870 18,660 36,410 28,490
400,000
320,000
240,000
160,000
80,000
2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
TARGET
school closure
s COVID PANDEMIC
----- End of picture text -----

Number of children receiving weekly one-to-one reading support, 2013 to 2022

----- Start of picture text -----
18,000
12,790
10,500 10,100
7,100
3,630
2,990
317 707 1,480
Schoolreaders CIO
for the year ended 31st August 2022
15,000
12,000
9,000
6,000
3,000
2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
TARGET
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Report of the Trustees - continued

Measuring both the impact and the provision of the scheme is a high priority for Schoolreaders. We have now worked in partnership with the Institute of Research in Education for several years and conduct an annual research survey of our schools and volunteers. We have 4 years of data. These have produced very consistent results across the years and the impact and outcomes are very pleasing. We have also learnt more about the volunteering experience and school requirements which has helped inform our model.

21/22 Results have shown:

(these results came from 176 schools representing over 3,500 children supported)

Reading age improvement

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Reading age improvement With support
when support has been given for for 3 terms
differing lengths of time
15%
With support
for 2 terms
1%
1%
With support
26%
for 1 term
1% 36%
5%
5% 1%
29%
50%
39%
52%
22% 1%
13% 22%1% 10%
No difference 1 month 1 to 3 months 3 to 6 months 6+ months
improvement improvement improvement improvement
Schoolreaders CIO
for the year ended 31st August 2022
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Report of the Trustees - continued

Other reading performance improvements

----- Start of picture text -----
93%
87%
76%
68%
fluency
confidence enjoyment self-esteem
Reading Reading Reading Children's
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Prioritising the most disadvantaged children

----- Start of picture text -----
23% 48%
Nationally, around one Nearly half of all children
quarter of children supported by Schoolreaders
receive pupil premium receive pupil premium
----- End of picture text -----

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Report of the Trustees - continued

Key facts from 2021-22

We received 2,528 new volunteer applications in the 2021-22 academic year

48% of children supported were on pupil premium, versus a national average of 23%

Teachers told us that 93% of children were more confident readers after receiving support from a Schoolreaders volunteer

We have 2,163 partner schools in England. That’s one in seven, or 13% of all English primary schools

87% of volunteers rate their experience of volunteering with us as excellent or good

237,190 one-to-one reading sessions were delivered in the 2021-22 academic year

87% of children increased their reading age after 1 term of support from a Schoolreaders volunteer, and 100% increased their reading age after 3 terms of support

We were after 1 term of support from a Schoolreaders supporting volunteer, and 100% increased their reading 10,100 children age after 3 terms of support in 608 schools each week by the Over 50% of Schoolreaders 99% of Schoolreaders end of the volunteers are retired volunteers would 2021-22 educational professionals recommend becoming or have had other roles or academic year a Schoolreaders volunteered in volunteer a school before

Schoolreaders School Survey 2022, conducted in partnership with the Institute for Research in Education at the University of Bedfordshire. The survey was based on responses from 176 schools and 584 volunteers.

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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. For many children, the stability of consistent, one-to-one adult support is extremely valuable, especially for those that may not have this elsewhere. The fact that the volunteer has chosen to support the child voluntarily is also reported as having a positive effect, with the child and volunteer relationship being different to that with teaching staff.

2021-22 Volunteer results (from 584 volunteer respondents)

Our Schoolreader’s volunteers are key in delivering the charity’s aim to improve children’s literacy and life chances. A great deal of time and stewardship is invested to ensure that our volunteers are equipped and feel confident in their role. Good communication is vital, and opportunities provided to our volunteers include: on-line new volunteer forums, inperson county volunteer get-togethers and a very active closed volunteer Facebook site where volunteers share their experiences with each other and can ask questions.

Our end of year survey showed that the average time our volunteers spend in school each week has increased from 2.4 hours in 2019 to 2.8 hours. This is a significant investment of time which, alongside their minimum commitment of one year’s volunteering, provides a rich reading support resource to our partner schools and their children.

Our volunteer retention year to year has always been high and this year is no exception. Results from over 500 volunteer respondents in our end of year volunteer survey show:

Unsurprisingly considering the volunteer satisfaction and retention:

Cost-efficiency and Value of the Schoolreaders Model

The simple, scaleable, proven model of Schoolreaders is also extremely cost-effective due to the very high volunteer weighting. For every Schoolreaders staff member there are 130 volunteers (1:130). This means that every £1 invested in Schoolreaders is highly leveraged. It results in a very low cost per child supported. For the 2021/22 school year it cost just £52 to provide a child with a whole year’s weekly one-to-one reading support. This represents excellent value given the volunteering hours provided and will reduce further as we grow with economies of scale. If we were to monetise our volunteers’ 1 hours, it would equate to £1.5m for the 2021/22 year.

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Report of the Trustees - continued

School quotes

“ We really value the volunteers' support and I personally love to see the joy on their faces and the children's faces. So many children do not read with their parents any more as life seems so busy. It really boosts the children's confidence and reading skills. - Headteacher, Primary School, Leicestershire

“ Thank you for your ongoing support. Reading is the most important skill we can give children to improve their life chances. Your volunteers are an integral part in our drive to ensure all children leave our school as accomplished readers.

This is an excellent scheme and we “ have benefitted enormously from it. The readers that we have are fantastic and are such a support to the children. We cannot thank you, and them, enough. - Wiltshire Partner School

“ Children that don't have the opportunity to read at home have someone to read to each week, and as they do it regularly a good relationship unfolds, and these children have someone to talk to about books, who shows a genuine interest in them and their ability to read.

“ As most of our volunteers are older, they feel like a grandparent figure which puts children at ease. - English Lead, Primary School, Dorset “ We have a mix of readers in our school and inevitably lockdowns have led to some gaps in literacy levels amongst our disadvantaged pupils. Reading aloud to an adult is especially important for looked-after children as they don’t always have this at home. - Headteacher, Primary School, Sheffield It has enabled children who don't “ have the same level of support at home as others, to read daily with an adult. It has improved their passion for reading and their progress. - Class teacher, Primary School, Bradford

“ Our higher attaining pupils now have the opportunity to read and discuss books with an adult. These children have been overlooked in the past so it's great they have this opportunity.

“ The Dr Seuss saying, “The more that you read, the more things you will know” is very true! Reading is essential; it’s the key to everything in life. If you can read you can do anything.

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Report of the Trustees - continued

School quotes

“ Jackie boosts the confidence of the children with whom she works. They feel valued as an adult in school is able to give them the 1-1 time they richly deserve. One child commented that the words he reads in his books he tries to use in his writing. Music to my ears!

“ Schoolreaders make a huge difference and impact. The children love to read with them and they are engaged in reading with a different adult. It is almost a treat to go.

“ The Schoolreaders volunteers have a hugely positive impact in our school. They model reading for pleasure and the children thoroughly enjoy spending time with them.

“ It has improved our struggling readers’ confidence, especially in boys. The children's love for reading culture has improved, as well as fluency and comprehension.

“ The un-rushed time they give to the children while they hear them read definitely makes a big difference to the children's overall enjoyment and understanding.

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Report of the Trustees - continued

Volunteer quotes

“ The experience has, and continues to, change and enrich my life. The feedback from the school is wonderful and positive for myself and especially for the children. I am considered 'one of the team' which is wonderful. -Schoolreaders Volunteer, Merseyside “ A teacher friend of mine lit the ember which inspired me to volunteer. She said, ‘We need more people like you in schools to enthuse the children’. I wasn’t sure about calling schools up out of the blue, but I did some googling and came across Schoolreaders.

“ Teachers are under so much pressure it’s very hard for them to To give children the joy of have any length of time to listen to the children. I am 1 to 1 with reading is immeasurable, each child and can give them my complete attention without it’s something to take having to worry about what the rest of the class is doing. through their whole lives. - Schoolreaders Volunteer, Northamptonshire [“] - Schoolreaders Volunteer, Bedfordshire “ Your organisation and what you do has “ I’ve actually been very impressed by how the such great purpose which absolutely children have come on in their reading in just should be celebrated. a few months. Obviously, this varies across the - Schoolreaders Volunteer, Bedfordshire board as the children do cross the attainment spectrum. It’s no problem though and I enjoy “ Part of my week I really look forward to. finding strategies to encourage each child With other things going on in the world this individually and make them feel inspired by is a little piece of happiness. their reading.

To give children the joy of reading is immeasurable, it’s something to take through their whole lives. - Schoolreaders Volunteer, Bedfordshire

“ I have also been able to see them all progress through the stages of their reading level which is very rewarding particularly as English is not their first language. - Schoolreaders Volunteer, Cambridge “ Having recently retired from nursing soon after my dear “ I was definite I didn’t want a mum died, moving to a new area I thought I would give school in my own locality. I Schoolreaders a try. It has proved to be more rewarding wanted to go somewhere where experience than I ever would have imagined. the kids aren’t reading well or - Schoolreaders Volunteer, Wiltshire don’t have stories read to them “ It is marvellous to know that something I enjoy so when they go home at night.

“ It is marvellous to know that something I enjoy so tremendously is making a difference. - Schoolreaders Volunteer, Devon

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Report of the Trustees - continued

“ I really like sitting and reading with Miss because she smiles and likes to hear about what I've been doing. - Child, Primary School, Isle of Wight

“ She makes me feel good about my reading. - Child, Primary School, Essex “ I like reading to Diane because she is kind and helps me understand the words I am reading. - Child, Primary School, Leicestershire

“ We love reading to Mrs Philpott!

“ She is helpful and I can read longer books more quickly because she has helped me to get faster.

Support from our donors and funders Trusts:

“ We have supported Schoolreaders on three occasions for the work that they do. The Trustees understand how important it is that all children should leave primary school able to read well, in the hope that they will be able to go on to the next stage of their education with the best start possible. They are delighted that the charity makes use of so many volunteers to read with children. The time spent with the children has a huge impact not only for them, their families, but also the volunteers who find their role extremely rewarding. The Covid pandemic underlined how valuable this work is and how easy it is for a child to fall behind without the encouragement that the Schoolreaders programme gives them.

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Report of the Trustees - continued

Companies:

“ We have been supporting Schoolreaders since early 2022 and have renewed our partnership for 2023. As a business we want to be able to give back to our local and broader communities, whether this is through donating money or our time, we want to be able to make a difference. Supporting child literacy through our collaboration with Schoolreaders is one way in which we are fulfilling our Corporate Social Responsibility objectives.

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Report of the Trustees - continued

With thanks to:

----- Start of picture text -----
The Garfield Weston Foundation The Dulverton Trust The Buffini Chao Foundation
For work in Leicestershire
The Harpur Trust Tritax Big Box
For work in Bedford Borough
The J Reginald Corah
Foundation Fund
For work in Leicestershire and
Rutland
The Leicestershire and Rutland
Maths Circle Ltd The Jack Lane Charitable Trust
Creators of Times Tables Rockstars For work in North Wiltshire and South Community Foundation
and NumBots Gloucestershire Through
The John Salmon Fund for work in
Leicestershire and Rutland
Funding from Suffolk Community Kindred Cranfield Trust
Foundation
Through
The Frank Jackson Foundation
----- End of picture text -----

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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 2022-23

Following the successful building back of our in-school volunteering model this year after the disruption of school closures caused by the pandemic, Schoolreaders is in a strong position to continue its growth in reaching the most disadvantaged children needing reading support. The Schoolreaders model has been proven and honed over nine years, is simple and scaleable, and the need and demand is great. We are ready to expand to reach as many children as our funding allows.

Our plans for the year comprise:

1. Retain safeguarding as a top priority of the organisation.

2. Continue to evaluate and respond to shifts in the child literacy, education and literacy charity landscape.

3. Provide 18,000 children with weekly one-to-one in-school reading support by August 2023, prioritising the most disadvantaged children.

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Report of the Trustees - continued

4. Maintain an effective, practical reading support provision.

5. Ensure the continued impact and effectiveness of the provision.

6. Further develop our fundraising strategy and ensure a financially sustainable model.

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Report of the Trustees - continued

Structure, governance and management

Organisation structure

The charity is governed by a Board of Trustees who normally meet six times per year and attend an annual strategic planning meeting with the Senior Management Team. 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 the roles of: schools liaison, 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 reading 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 did not undertake any coldcalling fundraising.

Key management personnel

The board considers that the CEO and Senior Management Team are responsible for 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.

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Report of the Trustees - continued

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. This is reviewed regularly by the Senior Management Team and annually by the trustees and by exception should the risk environment change significantly.

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

Financial review

Financial summary

There was a net increase in funds for the year of £40,341 (2021 £180,300). Income for the year was £564,836 (2021 £544,873). Total expenditure for the period was £524,495 (2021 £364,573). At the end of the financial year unrestricted reserves are £546,028 (2021 £424,709). Of these, free reserves are £529,976 (2021 £385,836).

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. Along with our very high volunteer to staff ratio of 130:1,

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Report of the Trustees - continued

this means that we are able to operate in a highly cost efficient manner with low overheads. The combined value of all our volunteers’ time, at every level of the 1 organisation, is valued at over £1.5million per annum.

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 is to maintain free reserves at between 6 and 9 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 2022 were equivalent to 8 months’ average expected operating costs for the forthcoming year. The trustees consider the current level of reserves as prudent and sufficient given the charity’s growth and the current economic climate.

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

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Report of the Trustees - continued

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, Chair of Trustees 24th April 2023

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Report of the Independent Examiner

I report on the accounts for the year ended 31 August 2022 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:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

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 Signed: Brigham House, 93 High Street Biggleswade, Bedfordshire SG18 0LD Date: 25th April 2023

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Statement of Financial Activities

For the year ended 31st August 2022

Year ended
2022
2022
2022
Unrestricted
Restricted
Total Funds
£
£
£		 Year ended
2021
Total Funds
£
Note
Income
Grants &donations
2
Donations from fundraising events
2
Interest income
Income from other trading
3
Other income
4
310,752
194,498
505,250
45,541
-
45,541
340
-
340
13,705
-
13,705
-
-
-		 483,752
58,093
43
1,770
1,215
Total income 370,338
194,498
564,836		 544,873
Expenditure
Raising funds
114,017
31,732
145,749		 110,043
Charitable activities
5		 135,002
243,744
378,746		 254,530
Total expenditure 249,019
275,476
524,495		 364,573
Net income and net movement
in funds for the year		 121,319
(80,978)
40,341		 180,300
Reconciliation of Funds
Total funds brought forward 424,709
170,355
595,064		 414,764
Total funds carried forward 546,028
89,377
635,405		 595,064

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Comparative 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
Donations from fundraising events
2
Interest income
Income from other trading activities
3
Other income
4
190,487
293,265
483,752
48,093
10,000
58,093
43
-
43
1,770
-
1,770
1,215
-
1,215		 468,435
33,515
431
-
3,502
Total income 241,608
303,265
544,873		 505,883
Expenditure
Raising funds
77,637
32,406
110,043		 88,422
Charitable activities
5		 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

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Balance Sheet

At 31st August 2022

2022
2022
Unrestricted
Restricted
£
£		 2022
Total Funds
£		 2021
Total Funds
£
Note
Fixed assets
Tangible fixed assets
10
12,489
-		 12,489 11,401
Current assets
Debtors
11
Stock
Cash at bank and in hand
12
10,505
1,295
3,563
-
527,136
97,561		 11,800
3,563
624,697		 45,870
2,096
558,337
541,204
98,856		 640,060 606,303
Creditors
Amounts falling due within one year
13
7,665
9,479		 17,144 22,640
Net current assets 533,539
89,377		 622,916 583,663
Total assets less current liabilities 546,028
89,377		 635,405 595,064
Net assets 546,028
89,377		 635,405 595,064
Funds
Unrestricted funds
14
Restricted funds
14
546,028
89,377		 424,709
170,355
Total funds 635,405 595,064

The financial statements were approved by the Board of Trustees on 24th April 2023 and were signed on its behalf by:

Jane Whitbread, Trustee

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Statement of Cash Flows

For the year ended 31st August 2022

2022
Total Funds
£		 2021
Total Funds
£
Note
Cash fows from operating activities:
Net cash provided by (used in) operating activities
12
72,535
72,535		 273,368
273,368
Cash fows from investing activities:
Interest
Purchase of property, plant and equipment
10
340
(6,515)
(6,175)		 43
(9,409)
(9,366)
Change in cash and cash equivalents in reporting period 66,360 264,002
Cash and cash equivalents at the end of the reporting period 624,697 558,337

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Notes to the Financial Statements

For the year ended 31st August 2022

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.

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.

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.

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

Gifts in kind

Donated goods received to give away are recognised in income and expenses at fair value.

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.

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

2. Voluntary income

2.
Voluntary income
Year ended
31.08.22
Total
Funds
£
425,923
73,902
5,425
505,250
45,541
550,791
500
3,000
5,000
1,200		 Year ended
31.08.21
Total
Funds
£
406,603
68,269
8,880
Grants
Donations
Gift Aid
Grants and donations
Fundraising events
474,872
58,093
541,845
500
3,000
5,000
750
-
40,000
25,000
179,675
244,675		 5,000
-
-
166,548
181,248		 5,000
40,000
25,000
346,223
425,923		 -
-
-
397,353
406,603

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

3. Income from other trading activities

Year ended
31.08.22		 Year ended
31.08.21
Total
Funds
£
-
1,770
1,770
Year ended
31.08.21
Unrestricted
Funds
£
11,647
2,058
13,705		 Restricted
Funds
£
-
-
-		 Total
Funds
£
11,647
2,058
Income from events: auction and
ticket sales
Sales of Christmas cards
13,705
4.
Other income		 Year ended
31.08.22
Unrestricted
Funds
£
-		 Restricted
Funds
£
-		 Total
Funds
£
-		 Total
Funds
£
1,215
Income received through
Coronavirus Job Retention Scheme
5.
Charitable activities		 Year ended
31.08.22
Total
Funds
£		 Year ended
31.08.21
Total
Funds
£
141,289
38,384
8,437
27,915
9,840
12,668
14,983
1,014
254,530
Unrestricted
Funds
£		 Restricted
Funds
£
Provision of Schoolreaders
service*:
Service delivery
Service management
Financial management
Office and other staff costs
Printing & marketing
Computer & database costs
72,041
13,089
7,401
18,768
2,388
9,252		 155,706
27,694
6,470
30,804
2,671
9,856		 227,747
40,783
13,871
49,572
5,059
19,108
Governance costs:
Financial management
Insurance
11,215
848
135,002		 9,803
740
243,744		 21,018
1,588
378,746

*Analysis includes allocation of support and governance costs. Service delivery includes gifts in kind of £22,898 (2021: nil).

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

6. Expenditure analysis

Year ended 31.08.22

Year ended
31.08.22
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		 79,776
21,989
-
6,914
2,554
1,469
11,183
-
123,885
13,164
8,700
145,749		 214,540
40,783
-
46,211
5,059
15,328
-
-
321,921
34,219
22,606
378,746		 18,290
-
19,208
4,652
-
5,233
-
-
47,383
(47,383)
-
-		 -
-
29,106
-
-
-
-
2,200
31,306
-
(31,306)
-		 312,606
62,772
48,314
57,777
7,613
22,030
11,183
2,200
524,495
-
-
Support costs
Governance costs
Total expenditure
524,495

7. Net income

Net income is stated after charging:

Net income is stated after charging:
7.
Net income
£
4,472
1,236
Depreciation
Independent Examiner fees
5,708

8.

The average number of employees in the year was 15 (2021 - 10). No employees had emoluments in excess of £60,000 (2021 – none). Total employment benefits of key management personnel were £65,901 (2021 £43,720). Total staff costs paid in the year are as follows (2021 - £209,112):

Total staff costs paid in the year are as follows (2021 - £209,11
Gross salaries
Social Security costs
Pension contributions		 £
299,259
13,266
5,950
318,475

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

9.

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 (2021 £Nil). Trustees' expenses amounting to £Nil were paid during the year ended 31 August 2022 (2021 £Nil).

10. Tangible assets

Cost
At 1 September 2021
Additions
At 31 August 2022		 £
15,693
6,515
(3,948)
18,260
Depreciation
At 1 September 2021
Disposals
Charge for the year
At 31 August 2022
4,292
(2,993)
4,472
5,771
Carrying Amount
At 31st August 2022
12,489
At 31st August 2021 11,401

11. Debtors

Unrestricted
Funds
£
10,505		 Restricted
Funds
£
1,295		 Total Funds
31.08.22
£
11,800		 Total Funds
31.08.21
£
45,870
Debtors and accrued income

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

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


operating activities
2022
Total Funds
£
40,341		 2021
Total Funds
£
180,300
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
4,472
955
(340)
(1,467)
34,070
(5,496)		 2,231
346
(43)
(2,096)
99,279
(6,649)
Net cash provided by/(used in) operating activities
Analysis of cash and cash equivalents		 72,535
2022
Total Funds
£
624,697		 273,368
2021
Total Funds
£
558,337
Cash in hand
Total cash and cash equivalents 624,697 558,337

13. Creditors: amounts falling due within one year

Unrestricted
Funds
£
7,665		 Restricted
Funds
£
9,479		 Total Funds
31.08.22
£
17,144		 Total Funds
31.08.21
£
22,640
Creditors and accruals

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Notes to the Financial Statements - continued

For the year ended 31st August 2022

14. Movement in funds

Net movement
in funds
£
At 31.08.21
£		 At 31.08.22
£
Unrestricted funds
General fund
424,709 121,319 546,028
Restricted funds
Total
170,355 (80,978) 89,377
TOTAL FUNDS
Balance at
31.08.21
£
Unrestricted funds
424,709
Net movement in funds, included in the above, a		 595,064
Income
as follows:		 40,341
Expenditure		 635,405
re Balance at
31.08.22
£
546,028
10,003
-
8,226
-
-
1,711
89
-
2,347
-
-
50,000
-
-
4,836
12,165
89,377
635,405
£
370,338		 £
(249,019)
Unrestricted funds
Restricted funds:
Bedfordshire
Bristol
Buckinghamshire
Cambridgeshire
Essex
Leicestershire
Lincolnshire
Norfolk
Sheffield (S Yorkshire)
Staffordshire
Other Counties
Future expansion
Staff wellbeing
Rent
County Coordinator
Operations Coordinators
12,540
6,719
-
-
460
5,294
-
1,898
-
6,667
-
75,000
807
802
-
60,168		 10,900
5,500
28,498
2,250
15,000
9,000
9,500
12,000
5,350
-
51,000
-
-
8,668
12,500
24,332		 (13,437)
(12,219)
(20,272)
(2,250)
(15,460)
(12,583)
(9,411)
(13,898)
(3,003)
(6,667)
(51,000)
(25,000)
(807)
(9,470)
(7,664)
(72,335)
Total restricted funds 170,355 194,498 (275,476)
TOTAL FUNDS 595,064 564,836 (524,495)

Schoolreaders CIO for the year ended 31st August 2022

41

Notes to the Financial Statements - continued

For the year ended 31st August 2022

15. Related party transactions

Donations without conditions received from related parties in the year totalled £32,057 (2021 £32,148).

16. Financial commitments

Financial commitments at 31 August 2022 amounted to £19,024 (2021 £3,619).

Schoolreaders CIO for the year ended 31st August 2022

42

Schoolreaders

Bedford Heights, Brickhill Drive Bedford, MK41 7PH

www.schoolreaders.org 01234 924 111

Schoolreaders CIO Registered Charity: 1159157

Schoolreaders CIO

for the year ended 31st August 2022

43