2024-12-31-accounts - The Reading List Foundation

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Trustees' Annual Report for the period

	Period start date	Period start date			Period end date	Period end date
	01	January	2024		31	December	2024
From				To

Section A Reference and administration details

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

Trustee name	Office (if any)	Dates acted if not for whole year
Alan Terry	Chair & Treasurer
Chris Thain		Till 24 June 2024
Carmel Lawless
Julie Sadler-Smith
TracyBechem
EmilyMacaulay
Francesca Catling		From 25 June 2024

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

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

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 336 Scholarships to deserving students in 2024. 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).

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

The Scholarships are in the form of a £275 book token (in effect an e- voucher code), which funds the student’s textbooks for the first year (and following years if unspent in the first year). This enhances their academic study, as well as providing both financial and emotional breathing space in the face of the financial pressures such students face. The Scholarships are awarded on the basis of merit (achievement at A levels, BTEC or IB) and so can also provide a boost to the student’s CV in future years.

We should note that the value of the Scholarship was increased in the Spring of 2024 to £275 (from £250) to compensate for recent high levels of inflation.

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

Section D Achievements and performance

§ Summary of the main achievements of the charity during the year
§ 2024 was our ninth full year in existence, and we believe we have again made considerable progress as a charity.
§ We increased the number of awards we were able to make - and therefore students we were able to support – to 336, up 23%.
§ The value of our Scholarships continued to be demonstrated, with 79% of recipients saying the award made ‘a big difference’ to their first year of study (2024 Scholarship Winners Survey).
§ Furthermore, our biennial survey of Heads of Sixth Form and similar involved in the Scholarship programme showed an overwhelming 83% thinking the programme is ‘extremely valuable’ from their perspective as a School or College leader, 93% saying they would recommend the programme to a colleague, and 97% considering it ‘easy to manage’.
§ Although our total income across the 12 months fell considerably (from £77,847 to £39,816), this was in large part due to a sizeable grant that has previously been paid in the last two weeks of Dec but which this time was received on 23 January 2025.
§ Similarly, the excess of expenditure over income reflected a desire to bring our reserves down in line with our stated policy.
§ As provided and funded by a specific grant, the Charity was able to commission administration support to the value of £5,500. This support is provided by Alan Terry, a Trustee. This arrangement adheres to all guidance laid out by the Charity Commission. The provision of administration support is governed by a Service Level Agreement which will be reviewed in January 2025.
§ 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. We are grateful for support from the Jessie Spencer Trust (Mansfield), the Shanly Foundation (Berkshire), the Eveson Trust (Herefordshire and Worcestershire), the Zochonis Trust (Manchester), the Hobson Charity (Enfield area), the Maud Elkington Charitable Trust (Leicester), and the Tolkien Trust (nationally). 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. Chris Thain (who stepped down as a Trustee in early 2024), Carmel Lawless, Emily Macaulay, Julie Sadler-Smith, Tracy Bechem and Alan Terry continued to challenge, strengthen, advise and enthuse our operations, and were joined in June by our new Trustee, Francesca Catling.
§ To all our donors and supporters, we offer you this note from one of the Head Teachers involved in the programme.
“I wanted to write to thank you and the Trustees and donors for your generous support for Bella, the Year 13 student who we awarded your scholarship to. She is an exceptional student:
quietly determined and ambitious, independent and organised, receptive to teacher support and willing to just have a go. This scholarship will make such a difference to her transition from school to her next steps. Just as importantly, receiving the
Scholarship has allowed us to celebrate her achievements with
her and her family and we know that this recognition will give her
so much assurance and belief that she is worth investing in.” Head of Sixth Form

March 2012

TAR

Section E Financial review As a charity that has minimal running costs. no property or rent commitments, and only awards Scholarships on the basis of donations already red. we would have minimal 1ndIng up. costs in the ev8nt of having to close Ihe Charity. However, we do have a policy of keeping a level of reserrfes 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 in(y)me one year. The Trustees have determined that in this context we will keep a minimum of £20,000 in reserve. At year end we held total reseryes of £26.778. in part due to grants received towards the end of the year but intended to fund Scholarships in 2025. Brief statement of the charity's policy on reserves Detsils of any funds matsrially in deficit Further financial review details (Optional inforniation) We have always been keen to closety manage and contain the running costs of the charity, and free up the vast majority of our income to directly fund Scholarships. In 2024. 880A of our total exkH)diture went directly on nding Scholarships for sdents. You may choose to include addib'onal information, where relevant aboul: the charity's principal sources of fijnds (including any fundraising)- how expenditure has supported the key objectives of the charity: inveslment policy and objectives including any ethical investm8nt policy adopted. Section F Other optional Information Section G Declaration The trustees declare that they have approved the ustees, report above. Signed on behalf of the charitys trustees Signature(s) Full name(s> Position (eg Secretary* Chair. Alan Tery Emily Macaulay Chair Trustee Date l6 F.brvcLV ioL5 TAR Marth 2012

The Reading List Foundation	The Reading List Foundation	The Reading List Foundation	1164690
Receipts andpayments accounts
For the period from	Jan 1 2024	To	Dec 31 2024

CC16a

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)	-	12,800	-	12,800	61,000
Other donations(from organisations)	-	1,500	-	1,500	1,500
Individual donations(inc Gift Aid)	7,549		-	7,549	7,472
Interest	726		-	726	476
Refund on unused credit(Blackwell's)	17,241		-	17,241	7,400
			-	-	-
	-	-	-	-	-
	-	-	-	-	-
*Sub total*(Gross income for AR)	25,516	14,300	-	39,816	77,848

A2 Asset and investment sales, (see table).
	-				-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					77,848

Blackwell's book e-vouchers	7,309	63,941	-	71,250	69,375
Marketingexpenses	1,668	-	-	1,668	1,814
Administrative expenses	7,410	-	-	7,410	8,673
Governance Costs	300	-	-	300	300
Credit refunds to students	381	-	-	381	779
Repayment of unusedpart of 2023grant	-	1,000	-	1,000	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
**Sub total **	17,068	64,941	-	82,009	80,941

A4 Asset and investment purchases, (see table)
					-
	-				-
**Sub total **	-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					80,941

	8,448				- 3,093
	-				-
	16,208				72,064
	24,656				68,971

CCXX R1 accounts (SS)

27/02/2025

Section B Statement of assets and liabilities at the end of the period unStriCte<l nds Rèstftcted funds EndowmÈnt funds to £ Categorie5 Det B1 Cash funds 4778 1g.m 1122 Totalcash fiMKIs 24.656 2.122 Unrestrithd Re5tiict•d funds Endowm•nt funds funds Details to nAar•st £ B2 Oiher mon&tsry assets valu Details Cost B3 Investment assets Details B4 Assets retsined for the charlty's own use Details aLlty B5 Uabllllles Soned by one ortwo trtjstees on behalf of all the trustees Pmt Nan D8 of approval n Terry Macauky Note 1.. 'Restted lunds. arE gnts and donatDns speufratyfixfundng Sr1aV8 n partIr00(e5 orwDns Not 2.. We a&0 ha t 16 x 2024 JEt to be daird by I•Val ts. though pa51 oyri8nts t us the ma1¥tY of thes8 wnl bts (¥wl. Not8 3.. aLw hokl 10 Bkck%Efs tx)ok e.¥outhets (£275 eathl kn use n a)25" and al hav& a Ot £860.50 7th Ihem forafl hoc award use. Note 4.. Th8 Charity con)ntssK)ned £5,$00 of adnslIati¥e 5UPW)rt jan TÈrry la Trusteel Thi5 kYd5 discussed and agreed at a seS of Twst88 m88tings. with Te hvrwWfrDffl pats of Ihe etUs. PeTh55Dn sought from and gr8nted by th8 tIty CCXX R2 arA)unts (SSI 2610212025

CHARITY COMMISSION FOR ENGLAND AND WALES I Independent examiner's report on the accounts Section A Independent Examiner's Report Rèport to the trusteesl members of Reading List Fcmjndation On accounts for the year ended 31 December 2024 Charity no {rf anyl 1164690 Set out on pages I report to the trustees on my examinalion of the accounts of the above chanty {Yhe Charrtable Incorporated Organisation or CIO") for the year erKled 31" December 2024. Responsibilities and basis of report As the chanty trustees of the CIO. you are responsible for the preparation of the accounts in accordance wrth the requirements of the Charities Act 2011 Acr). I report in respect of my examination of the CIO'S accourrts carried out urkler section 145 of the 2011 Act and in carying out my examinalion, I have foll0vd the applicable DIrectn$ given by the Chartty Commission urKler section 145($1{b) of the Act. I have completed my examination. I confim that no material matters have come to my attention (other than that disclosed below ) in connection with the examination which grves me cause to believe that in. any material Independent examiner's statement accounting records were not kept in accordan with section 130 of the Act or the accounts do not accord wtth the accounting records I have no COnM$ and have come across no other matters in conneLion wtth the examination to which attention should ts drawn in order to enable proper understanding of the accounts to reached. Signed: Name". Belinda Roome Relevant professional qualification{s) or ldY (if any): Chartered Accountant- ICAEW Address: Rowan House Accountants 5 Earf 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 None any items that the examiner wishes to disclose .

October 2018

IER