2025-04-05-accounts - Friends Of Southwold Library

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

Registered Charity Number 1163525

Trustees’ Annual Report and Statement of Accounts 6 April 2024 – 5 April 2025

I am pleased to present the ninth 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, in only the second full year of operating in the Old Hospital Hub. This report gives the detail of how we performed in the period concerned. Financially, FoSL raised over £25,000 and made purchases and sponsorship of £18,000 a surplus of over £7,000, as last year. The majority of the surplus was as a result of donations with a significant donation from Latitude as a result of the Festival visitor support team headed by our Trustee Yvonne Sellins who deserve a great deal of credit and thanks from us all . Other significant contributions came, once again, from an initiative by our Treasurer, Kathy Oliver, to put part of our reserves on deposit which generated a £1,000 interest benefit and the generosity of our Patrons.

More details are contained in the attached Statement of Accounts and later in this report

The Trustees met regularly during the year. The AGM was held on the 10[th] June 2024 and the Annual Report and Statement of Accounts were approved. In accordance with our Constitution, Kate Stevenson, Honor Manson and Mary Allerton stood down. Honor and Mary were re-elected but Kate, having served three consecutive terms, was not eligible for re-election under the terms of our constitution but agreed to be co-opted for 2024/25. Sara Farrands, our Secretary, who had stood down the previous year following three consecutive terms, but remained co-opted, was re-elected.

During the year three new Trustees, Fiona Anderson, Jenny Johnson and Jill Horne were welcomed as Trustees. In accordance with our constitution they will stand for election at this AGM. Kathy Oliver, who has been a Trustee of FoSL since its formation, and Treasurer, announced her retirement at the end of the 2024/25 Financial Year. The thirteen years that Kathy has given to FoSL and her admirable guardianship of its finances are attested to by the excellent set of results and reserves that we have. Kathy, whilst a great loss, has been instrumental in a seamless handover to Jill Horne, who will replace Kathy as Treasurer.

The coming year will be a very significant one as the management of libraries in Suffolk has, after a number of years being run by the Suffolk Libraries Charity, reverted back to the County Council as from 1[st] June. At the time of writing, it is unclear what impact, if any, this will have on the Friends organisations supporting libraries throughout Suffolk. Briefings with “Friends” are to be held and I hope to clarify the situation at the AGM itself.

Assuming the change creates no insurmountable difficulties it is currently our intention to continue to invest in activities for the community that involve the library or library related activities. Further details of these are given below.

The Objectves for 2024/25

A list of the plans and targets for 2024/25 is attached.

The Trustees can confirm that these were met. Targets for 2025/26 will be set at the next Trustees meeting following the AGM.

The main actvites of FoSL

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

Funded fifty one children’s events for families during the year including hiring venues, funding equipment and paying for entertainers.
Slaughter In Southwold
Southwold Literary Festival
Christmas Tree Festival

Provision of equipment for the Library

FoSL has funded equipment for Mah Jong, the coding group and craft items.
A microphone, chairs, bean bags, cutlery, mugs, bookends and book rests.
Various items associated with sundry fixtures and fittings including the renovation of the mural from the old library and poster displays and leaflets promoting events.
Christmas Trees.

Payment of services for the public

Provision of WiFi
Newspapers
PRS and Film licence

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 as the difficulty in finding enough Trustees and maintaining enough members to support events held. Currently FoSL has sufficient 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 201 Friends of Southwold Library, an increase of 5 from last year.

In line with Charity Commission best practice, FoSL have implemented a number of additional policies and procedures, not previously covered by our constitution, in respect of complaints, bullying and harassment, serious incident reporting and safeguarding.

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 commitments are the provision of WiFi, newspapers 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:-

Mrs. Mary Allerton Mr. Robert Mole Miss Jean Arnold Mr Eric & Mrs. Joan Sortwell Mrs. Betty Cleave Mrs. Katherine Urry Ms. Diana Coulter Mrs. Anne Whitmee-Haddock Mr. Mark and Mrs. Kay Eagles Mrs. Shirley Cordeaux Wilde Mrs. Rowena Harvey Mrs. Jan Wilkins Mrs. Carol Horton Miss Laura Houson Mrs. Brenda Mole

Trustees

The Trustees of FoSL areMary Allerton Fiona Anderson Charlotte Clark Suffolk Libraries IPS representative Mark Eagles Chair Sara Farrands Secretary Jill Horne Treasurer Jenny Johnson Honor Manson Yvonne Sellins Kathryn Stevenson

Mark Eagles Chair, Friends of Southwold Library June 2025.

Friends of Southwold Library Registered Charity Number 1163525

Statement & Notes to Accounts full year on year 2024-25

These accounts reflect the period 6 April 2024 to 5 April 2025.

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, and newspapers: £850.


Friends of Southwold Library Accounts
Year on Year
			2024-25		2023-24
		Notes	£	£	£	£
Balance at 5.4.24				54,551.77		47,539.33

Income 6.4.24-5.4.25
	Coffee mornings		148.10		168.25
	Craft sales	1	480.44		407.84
	Donations		4,179.60		3,711.82
	E-Bay	2	1,246.90		696.89
	Fund raising activities: children	3	703.76		1,537.57
	Fund raising products	4	211.50		357.00
	Interest from savings account	5	1,133.88		1,001.41
	Patrons		1,085.00		1,400.00
	Quiz nights		626.00		304.00
	Slaughter		8,048.96		6,881.87
	Southwold LiteraryFestival	6	3,371.96		2,820.57
	Stall sales	7	2,879.27		1,923.09
	St Elizabeth Hospice-Hares	11	1,128.83		0.00
	Tax reclaim Gift Aid		559.05		447.10
				25,803.25		21,657.41

Expenses 6.4.24-5.4.25
	Audit		75.00		75.00
	Donations		170.00		275.50
	Equipment	8	1,919.49		1,787.40
	Fund raising:general	9	906.62		829.05
	Quiz		63.70		30.00
	Slaughter		7,202.70		5,514.36
	Southwold LiteraryFestival	6	3,055.42		1,834.50
	Sponsorship	10	4,593.52		4,299.16
	St Elizabeth Hospice - Hares	11	328.50		0.00
				18,314.95		14,644.97

Balance at 5.4.25				62,040.07		54,551.77



Cash in current account			9,836.40		13,502.83
Cash in savings account			52,135.29		41,001.41
Cash in hand			68.38		47.53
				62,040.07		54,551.77
K Oliver, Treasurer
14.4.25

Notes:

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.
One of the Friends is selling valuable donated items on E-Bay and FoSL receives the net profit.
This sum includes holiday activities for children, gifts and donations.
This includes the sales of pens, canvas bags, Southwold Tales, water bottles, reusable cups, usb sticks and treasure trails.
A Lloyds 32-day notice savings account was opened on 23.3.23, and £50,000 is now deposited, yielding interest as shown.
Southwold Literary Festival was a joint event organised by Southwold Arts Centre and Southwold Library.
Stall sale activities: plants, Lions, fun day, brass on the grass, fetes, Christmas lights, book sales, Suffolk Libraries day.
Supplementing and enhancing furniture and supplies for the Library.
This sum includes necessary outlay for events and purchase of products to sell.
FoSL sponsored a great variety of children’s activities, film events and purchased a daily newspaper for the Library.
Library Manager’s fund raiser supported by FoSL.

SOUTHWOLD, SUFFOLK IP18 6BE Telephone: 01502 724696 e-mail.. Loanold$n)ith.uS nihn(L' niail.coin 2 May 2025 Friends of SohWO1d Library Tliese accotsnis were exainined l-TOnk the iE0nali0n providcd and I beltel'e thcni to be a Irut record for the Irading PLriod 6, April ?U?4 to 5, April ?0?5. Joan Goldsmith