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2023-04-05-accounts

Southwold Library Old Hospital Hub Field Stile Road Southwold IP18 6LD

Registered Charity Number 1163526

Trustees’ Annual Report and Statement of Accounts

6 April 2022 – 5 April 2023

I am pleased to present the seventh Trustees’ Annual Report and Statement of Accounts of Friends of Southwold Library (FoSL) since we became a Charitable Incorporated Organisation (CIO).

It has been another very successful year, following the disruption caused by the pandemic in the previous year. This report gives the detail of how we performed in the period concerned. Financially, FoSL raised £21,283 and made purchases and sponsorship of £21,045 a small surplus of £238. The surplus was relatively small, despite a major donation, the amazing work in raising funds through the sale of items on EBay, stall sales and the generosity of the Patrons, as a conscious decision was made by the Trustees to support a number of equipment purchases following the move to the library’s new premises. More details are contained in the attached Statement of Accounts and later in this report

The Trustees met regularly during the year and it was a relief not to have to do this via Zoom following the end of Covid. The AGM was held on the 25[h] July 2022 and

the Annual Report and Statement of Accounts were approved. In accordance with our Constitution, Kathy Oliver, our Treasurer stood down following three consecutive terms but agreed to be co-opted for the coming year. Further, as three Trustees are required to stand down at each AGM, Mary Allerton and Kate Stevenson also stood down and were duly re-elected. Sadly, Jane Ackroyd a much valued Trustee, died during the year. Jane was an enthusiastic and knowledgeable member who contributed greatly to many of the arts societies locally and is much missed.

Subsequently, Yvonne Sellins was invited to become a Trustee and confirmed her willingness to join us.

A former Trustee, Miriam Bennett, also died and the Trustees would like to mark her passing by recording in this report our sadness and recognition of the contribution made by Miriam in the early years of FoSL.

The Library moved to its new premises at the old Southwold Hospital site on the 5[th] May 2022 and this has proved a great success due in no small measure to the vision of Charlotte and her team. Sadly for us all and particularly Charlotte, Lynne Farrow, Charlotte’s very able and capable assistant, will retire on the 4[th] July. I am sure we will all miss Lynne’s very knowledgeable help and wish her a long and happy retirement.

The Trustees will continue to invest in activities for the community that involve the library or library related activities. Further details of these are given below.

The Objectives for 2022/23

A list of the plans and targets for 2022/23 is attached. The Trustees can confirm that these were met. Targets for 2023/24 will be set at the next Trustees meeting following discussion at the AGM.

The main activities of FoSL

Sponsorship of Library events which promote library use and recreational reading to the public.

Provision of equipment for the Library

Payment of services for the public

In selecting activities to fund the Trustees have chosen those which will contribute to the maintenance of the Library, promote its use and give benefit to the wider community. The Trustees have taken full consideration of the Charity Commission’s guidance on public benefit when deciding to fund activities.

Achievements and Performance

Risk Management

The Trustees agreed that the main risks to FoSL are identified a) as the difficulty in finding enough Trustees and b) maintaining enough members to support events held. Currently FoSL has enough Trustees. Should there ever be insufficient to run the Charity the constitution allows for Suffolk Libraries to appoint Trustees to run the organisation. Membership is stable and by keeping membership free and regularly running recruitment exercises, numbers are expected to remain adequate.

There are currently 179 Friends of Southwold Library.

Reserves Policy

The Trustees have agreed that the Reserves Policy should be to hold funds equivalent to the total of any on-going costs to which FoSL has committed for at least the next financial year, although the reserves remain unrestricted funds. At present the only on-going commitment is the provision of WiFi and media licences.

Community Support for FoSL

The success of FoSL would not have been possible without the efforts and generosity of our members, patrons, donors and other supporters of the library. The Trustees would like to thank all those who contributed this year:-

Our Patrons during the year were:-

Miss Jane Ackroyd Mrs. Rowena Harvey Mrs. Mary Allerton Mrs. Carol Horton Miss Jean Arnold Mrs. Laura Houson Mrs. Shirley Cordeaux Wilde Mrs. Brenda Mole Ms. Diana Coulter Mr Robert Mole Ms. Lena Craddock Mrs. Jeanette Radley Kane

Dr. Diana Dixon Mr & Mrs Joan & Eric Sortwell Mr.& Mrs. Mark & Kay Eagles Mrs. Katherine Urry Mrs. Rosamund Fischer Mr. Reg Wafer

Trustees

The Trustees of FoSL are-

Mary Allerton Charlotte Clark Suffolk Libraries IPS representative Mark Eagles Chair Sara Farrands Secretary Honor Manson Kathleen Oliver Treasurer Yvonne Sellins Kathryn Stevenson

Mark Eagles Chair, Friends of Southwold Library June 2023.

Friends of Southwold Library Registered Charity Number 1163525 Statement & Notes to Accounts full year on year 2022-23

These accounts reflect the period 6 April 2022 to 5 April 2023.

The monies for that period were held at Lloyds Bank.

Since 28 January 2013 the Friends of Southwold Library have been registered with the HMRC as a charity for tax purposes in line with Paragraph 1 of Schedule 6 Finance Act 2010.

The Trustees have agreed that the Reserves Policy should be to hold sufficient funds to cover any on-going cost to which FoSL had committed for at least the next financial year. At present this is the cost of WiFi provision: £500 per annum, a newspaper: £850.

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Friends of Southwold Library Accounts
Year on Year
2022-23 2021-22
Notes £ £ £ £
Balance at 5.4.22 47,301.70 40,420.13
Income 6.4.22-5.4.23
Coffee mornings 228.50 247.84
Craft sales 1 412.90 83.31
Donations 10,731.50 1,123.04
E-Bay 2 917.84 2,871.82
Fund raising activities: children 3 1,063.68 703.27
Fund raising activities: little hoot 3 0.00 1,081.65
Fund raising products 4 284.90 332.00
Patrons 1,395.00 1,760.00
Quiz nights 865.00 588.40
Slaughter 5 3,123.00 0.00
Stall sales 6 1,717.76 2,201.09
Tax reclaim Gift Aid 542.59 262.22
21,282.67 11,254.64
Expenses 6.4.22-5.4.23
Audit 50.00 50.00
Donations 871.00 107.69
Equipment 7 11,719.45 585.31
Fund raising: general 8 847.15 305.18
Fund raising: little hoot 8 0.00 1,081.65
Quiz 134.99 30.00
Slaughter 5 3,184.25 263.81
Sponsorship 9 4,238.20 1,949.43
21,045.04 4,373.07
Balance at 5.4.23 47,539.33 47,301.70
Cash in bank 47,498.60 47,244.44
Cash in hand 40.73 67.26
Less undrawn cheque 0.00 -10.00
47,539.33 47,301.70
K Oliver, Treasurer
18.4.23
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Notes:

  1. Supporters are using the Library to display and sell their hand made craft items for a 20% donation to FoSL funds. Some craftspeople are donating the whole of the sale price.

  2. One of the Friends is selling valuable donated items on E-Bay and FoSL receives the net profit.

  3. This sum includes summer activities for children, gifts and donations. (Little Hoot fundraiser for St Elizabeth Hospice 21/22.)

  4. This includes the sales of pens, canvas bags, Southwold Tales, water bottles, reusable cups, usb sticks, treasure trails and recycling income.

  5. Slaughter in Southwold 2022, the first since 2019, did well, almost breaking even.

  6. Back to activities: plants, ziffit, fun day, brass on the grass, fetes, book sales.

  7. Supplementing and enhancing furniture and supplies for the New Library.

  8. This sum includes necessary outlay for events and purchase of products to sell.

  9. FoSL sponsored a great variety of children’s activities, film events and purchased a daily newspaper for the Library.