## **Trustees' Annual Report for the period** Period start date Period end date 01 January 2022 31 December 2022 **From To** ## Section A Reference and administration details The Reading List Foundation **Charity name** The Reading List Foundation **Other names charity is known by Registered charity number (if any)** 1164690 **Charity's principal address** 11 Earl Richards Road North EXETER **Postcode EX2 6AQ** **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Alan Terry|Chair & Treasurer||| ||Chris Thain|||| ||Carmel Lawless|||| ||Julie Sadler-Smith||26 Sept 2022 -|| ||TracyBechem||26 Sept 2022 -|| ||EmilyMacaulay||26 Sept 2022 -|| |||||| ||Andrew Davidson||Till Jul 1 2022|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| **Names of the trustees for the charity, if any, (for example, any custodian trustees)** **Name Dates acted if not for whole year** March **2012** **TAR** 1 ## **Names and addresses of advisers (Optional information)** **Type of adviser Name Address** ## **Name of chief executive or names of senior staff members (Optional information)** ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Constitution Type of governing document (eg. trust deed, constitution) Charitable Incorporated Organisation How the charity is constituted (eg. trust, association, company) Appointed by Resolution passed at meeting of Charity Trustees. Trustee selection methods - (eg. trust, association, company) - (eg. appointed by, elected by) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** **Summary of the objects of the charity set out in its governing document** For the public benefit, to advance the education of undergraduate students from lower income households, particularly but not exclusively, in England, by providing them with financial scholarships. March **2012** **TAR** 2 The main – and currently sole – aim of the charity is the provision of Scholarships to undergraduate students in England from lower-income households. To this end we issued 225 Scholarships to deserving students starting their degrees in September 2022. A further 17 Scholarship Winners chose to defer their studies till September 2023. Students were selected independently in Year 13 by their Head of Year, Deputy Head Teacher or similar (with the awards actually sent out once the student starts at university). The Scholarships are in the form of a £250 book token (in effect an e- **Summary of the main** voucher code), which funds the student’s textbooks for the first year (and **activities undertaken for the** following years if unspent in the first year). This enhances their academic **public benefit in relation to** study, as well as providing both financial and emotional breathing space **these objects (include within** in the face of the financial pressures such students face. The **this section the statutory** Scholarships are awarded on the basis of merit (achievement at A levels, **declaration that trustees have** BTEC or IB) and so can also provide a boost to the student’s CV in future **had regard to the guidance** years. **issued by the Charity Commission on public** Throughout the year the Trustees have had regard to the guidance **benefit)** issued by the Charity Commission on public benefit. We reviewed the Throughout the year the Trustees have had regard to the guidance issued by the Charity Commission on public benefit. We reviewed the guidance when the Charity was established and have ensured that our underlying model and ongoing activity of providing Scholarships to students from lower-income households meet this guidance. ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; - contribution made by volunteers. March **2012** **TAR** 3 Section D Achievements and performance ## **Summary of the main achievements of the charity during the year** - § 2022 was our seventh full year in existence, and we believe we have again made considerable progress in expanding our charitable activities. - § We increased the number of awards we were able to make - and therefore students we were able to support - from 208 in 2021 to 225 in 2022 (with another 17 students deferring their award to 2023). We are already on track to grow the programme further in 2023. - § The value of our Scholarships continued to be demonstrated, with 87% of Scholarship Winners saying the award made ‘a big difference’ to their first year of study (2022 Scholarship Winners Survey). - § Furthermore, in late 2022 we carried out our second survey of school leaders involved in the programme: 90% of Heads of Sixth Form said they think the scheme is very or extremely effective at helping the student make a successful start at university, and 94% said they would recommend the programme to a colleague in a similar role. - § Our donation income grew strongly, to a record £90,513, helped by our first multi-year grant agreement. - § As provided and funded by a specific grant, the Reading List Foundation was able to commission administration support to the value of £5,000. This support is provided by Alan Terry, a Trustee. A total of £2,500 had been spent by the year end. A further £1,250 will be spent in March 2023 to cover the calendar quarter to December 2022. Permission was sought from, and granted by, the Charity Commission. The provision of administration support is governed by a Service Level Agreement which will be reviewed in March 2023. - § We again benefitted from generous grants from a significant number of Charitable Trusts across the country, the majority of which supported clusters of Scholarships in a particular geographical area of England. In particular we are grateful for support from the 29th May 1961 Charitable Trust (Warwickshire), the Eveson Trust (Herefordshire and Worcestershire), the Forrester Family Trust (nationally), the Hadfield Charity (Cumbria), the Holbeck Trust (London), the Jessie Spencer Trust (Mansfield), the Normal Family Charitable Trust (East Devon), the Reckitt Charity (East Yorkshire), the Paul Bassham Charitable Foundation (Norfolk), the Rothschild Foundation (Buckinghamshire), the Shanly Foundation (Berkshire), the Tolkien Trust (nationally), the Worshipful Company of Insurers (London) and the Zochonis Trust (Manchester). In addition, we received another valuable grant from Wessex Water to support Scholarships in their region. - § None of this would have been possible without the immensely valuable support of the trustees. While Andrew Davidson stepped down from his role, we strengthened the Trustee body with the addition of Emily Macauley, Julie Sadler-Smith and Tracy Bechem (our first ‘young’ trustee). Along with Chris Thain and Carmel Lawless they bring energy, experience, expertise and challenge to everything we do. March **2012** **TAR** 4 Section D Achievements and performance - § Our thanks to them, and to all our supporters, can I think best be summed up by the following comment from a Teacher describing their chosen award winner: _“This year I awarded the Scholarship to one of our students on free school meals, who is an exemplary young lady with a very tough home life. I actually gave her the scholarship when she came in for one of her exams and she was overwhelmed. Later that day she messaged me and said - “I feel earlier that I didn't express how grateful I am for you picking me for the Scholarship. I was worried and distracted by the exam, as well as tired at that time in the morning. But I just wanted to send you an email to say that I am very grateful to have been given this honour, I am really proud and delighted, and the Scholarship will help me immensely during my first year at university.” - Thank you again to your wonderful donors for continuing to support our students in this way.”_ March **2012** **TAR** 5 Section E Financial review Brlef statement of the charlty's policy on reserves As a charity thal has minimal unavoidable running costs. no ovetheads, and only awards Scholarships on the basis of donations already r￿1ved. we would have minimal 'winding up, costs in the event of having to close the Charity- However, we do have a ￿lIcY of keeping level of reserves in hand to help smooth out the number of Scholarships we are able to award year-on-year, in the event of a marked decrease in income one year. The Trustees have detemiined that in this context we will keep a minimum of £20,000 in reserve. At year end {Dec 311 we traditionally have reserves in excess of this figure, since the year end figurès include a number of grants re￿iVed in the prior months (July- Decl but inlendgd to fund Scholarships the following summer. Dotails of any funds materfally In doficlt FUrt￿r financlal rnview detalls (Optlonal Infomiatlon) You may choose to indude Wo have 8Iw8ys been keen to closely manage and contain the njnning additsonal infomiation, where costs of the charity, and free up the vast majority of our income to directly relevant about.. fund Scholarships. In 2022. go.￿ of our total expenditure land 100 % of the charity's principal income from individual donations) went direcuy on funding Scholarships for students. sources of funds (including any fundraising).. how expenditure has supported the key objectives of the charity., investment policy and objeclivos including any ethical investmènt policy adopted. Section F Other o tional information Section G Declaration Tha trustees declare that they havé approved the trustees, report above. Slgned on bohalf of the charlty's truslees Slgnatur8($} Full nam6{$) Posltlon leg Secretary, Chair. etc) Alan Terry S¥xE£- Chair Truslee Date 8VI TAR Marth 2012 CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustee&l fflember5 of The Reading List Founda*"on On accounts fortho year 315t DecemLw 2022 ChaTIty no (rfanyl 1164690 Sgt out on pages I report to the truslees on my examinats'on of the accounts of the above charity {Ihe Chantable Incorporated Organisation or CIO.) for the year ended 31At De￿mber 2022. Re8pon$ibilities and basis of report As tho charity trustees of the CIO, you are respon￿ble for the preparation of the accounts in accordancE wth the requirements of the Charittes Act 2011 (Ihe Act'i. I report in respect of my examination of the CIO'S accounts caffied out under section 145 of the 2011 Act and in Carrying out my examination. I have follt>wed the applicable Dire¢tions given by the Charty Commission under se(*on 14515}(b) of the A¢t. I have completed my examination. I confim) thal no material matters have Come to my attention {other than that disclosed below l in connection wrth the examination which gfves me cause to believe that in, any material respect.. accounting record$ were not kept in aCt￿rdanCe with section 130 of the Act or the acLounts do not a¢¢ord with the accounting records Independent examlnèrfs statement I have no concems and have come across no other matters in connect with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Slgned: Date". Name: Belinda Roome Relevant professional quallflcatlon{sl or body lif any): Chartered Accountant- ICAEW Address: Rowan House A¢countarrts 5 Earl Richards Road North Exeter. EX2 6AQ IER October 2018 **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . None **October 2018** 2 **IER** |**The Reading List Foundation**|**The Reading List Foundation**||**1164690**||| |---|---|---|---|---|---| |**Receipts andpayments accounts**|||||**CC16a**| |**For the period**
**from**|Jan 1 2022|**To**|Dec 31 2022||| |**Section A Receipts and payments**|**Section A Receipts and payments**|**Section A Receipts and payments**|||||||| |---|---|---|---|---|---|---|---|---|---| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**||**Restricted**
**funds**
**to the nearest £**||**Endowment**
**funds**
**to the nearest £**||**Total funds**
**to the nearest £**||**Last year**
**to the nearest £**| |
Charitable Trust donations(note 1)|**-**||**83,750**||**-**||**83,750**||**7,500**| |Other donations(from organisations)|**-**||**1,500**||**-**||**1,500**||**-**| |Individual donations(inc Gift Aid)|**3,763**||**1,500**||**-**||**5,263**||**9,879**| |Interest|**249**||**-**||**-**||**249**||**200**| |Refund on unused credit(Blackwell's)|**11,609**||**-**||**-**||**11,609**||**2,768**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR)_|**15,621**||**86,750**||**-**||**102,371**||**20,347**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**-**||||||||| ||**-**||||||||**-**| |**_Sub total_**|**-**||||||||**-**| |**_Total receipts_**
**A3 Payments**|||||||||| ||||||||||**20,347**| ||||||||||| |
Blackwell's book e-vouchers|**13,181**||||||||**57,905**| |Marketingexpenses|**2,437**||||||||**2,715**| |Administrative expenses|**1,418**||||||||**5,572**| |Governance Costs|**275**||||||||**275**| |Refunds to students|**1,466**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| ||**-**||||||||**-**| |**_Sub total_ **|**18,777**||||||||**66,467**| ||||||||||| |**A4 Asset and investment**
**purchases, (see table)**|||||||||| |Macbook/laptop|**495**||||||||| ||**-**||||||||| |**_Sub total_ **|**495**||||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||||||||||**66,467**| ||||||||||| ||**- 3,651**||||||||**- 46,120**| ||**-**||||||||**-**| ||**19,452**||||||||**84,529**| ||**15,801**||||||||**38,409**| CCXX R1 accounts (SS) 09/03/2023 1 Section B Statement of assets and liabilities at the end of the period Unrestricted Restricted funds Endowment funds to n￿r•￿t £ CattrgoriL tv rnar•6tf 81 Cash funds TSB CLurent 8CCOUnt TSB $aVin￿ acco￿1 ,737 56,263 Totalcash furtd5 1S.801 56,263 UM￿StriCted R•8tridod lunds fvnds Endowm8nt lunds to roar•sl £ Dotall$ to rmr•4t £ toMJr•vt£ Fwxl tv¥JNch DetaSlsk Cc•t l(Wlwll Oet8lls bookllaptop Colt IoF4laxl} Cwr•nt v•1 84 Ass•ts retalned for th• ¢harlty'• own uso 49J Detalls 114blllty r•l•t4• B5 U•billUes SvJned by one orlwo tnJs19e5 on behawof gal the IN￿￿e5 SvJnabJre Print Narn& Dale of approval Aknn Terry CCXX R2 awounts ISSI 0810312023 Note 1: 'Restricted funds' are grants and donations specifically for funding Scholarships in particular schools/colleges or regions Note 2: We also have 48 x 2022 Scholarships yet to be claimed by individual students, though past experience tells us the majority of these won't be claimed. Note 3: We also hold 45 Blackwell's book e-vouchers (£250 each) for use in 2023 Note 4: The Charity commissioned £2,500 of administrative support from Alan Terry (a Trustee). This was discussed and agreed at a series of Trustee meetings, with Alan Terry recusing himself from relevant parts of the meetings. Permission was sought from and granted by the Charity Commission. A further £1,250 is due to be paid in March 2023 in respect of the final quarter 2022. CCXX R3 accounts (SS) 09/03/2023 3 CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustee&l fflember5 of The Reading List Founda*"on On accounts fortho year 315t DecemLw 2022 ChaTIty no (rfanyl 1164690 Sgt out on pages I report to the truslees on my examinats'on of the accounts of the above charity {Ihe Chantable Incorporated Organisation or CIO.) for the year ended 31At De￿mber 2022. Re8pon$ibilities and basis of report As tho charity trustees of the CIO, you are respon￿ble for the preparation of the accounts in accordancE wth the requirements of the Charittes Act 2011 (Ihe Act'i. I report in respect of my examination of the CIO'S accounts caffied out under section 145 of the 2011 Act and in Carrying out my examination. I have follt>wed the applicable Dire¢tions given by the Charty Commission under se(*on 14515}(b) of the A¢t. I have completed my examination. I confim) thal no material matters have Come to my attention {other than that disclosed below l in connection wrth the examination which gfves me cause to believe that in, any material respect.. accounting record$ were not kept in aCt￿rdanCe with section 130 of the Act or the acLounts do not a¢¢ord with the accounting records Independent examlnèrfs statement I have no concems and have come across no other matters in connect with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Slgned: Date". Name: Belinda Roome Relevant professional quallflcatlon{sl or body lif any): Chartered Accountant- ICAEW Address: Rowan House A¢countarrts 5 Earl Richards Road North Exeter. EX2 6AQ IER October 2018 **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . None **October 2018** 2 **IER**