Charity registration number 1169572 Company registration number CE008064 (England and Wales) READY, STEADY, READ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
READY, STEADY, READ LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs PA Stead Mrs J L Walker Mr N Parkinson Mrs SL Mays Mrs R Weeks Mrs C Mudd Charity number 1169572 Company number CE008C64 Accountants Rainbird Hanton Limited The Temple Hesslewood Office Park Ferriby Road Hessle East Yorkshlre United Kingdom HU13 OLH
READY, STEADY, READ CONTENTS Page Trustees report Accountants, report Statement of financial activities Balance sheet Notes lo the financial slalemenls 7-14
READY, STEADY, READ TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The trustees who are also directors of the charity for the purposes of the Companies Act 20(, present their report with the financial statements of the charity for the year ended 31 March 2025. The truslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chanties preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019} ObjectiV88 and a¢tivitle8 The advancement of education for Ihe public benefit by providing adIng support in schools to improve reading outcomes for children and develop a lifelong love of reading. Public Benefit In planning Ready Steady Read's activities, the trustees have had regard to the guidance issued by the Charities Commission on public benefit. Signlflcant activitie8 Ready, Steady. Read has three key aims. These are U To improve reading outcomes for children who are falling behind in reading. To close the gap between childfenis reading age and Chronological age. To help children develop a lifelong love of reading which will. in lurn, support the rest of their education. A good level of literacy is the foundation of all education. Ready Steady Readis primary activity is the provision of volunteer readers to primary schools in Hull in the areas of greatest deprivation lo work with children on a one-to-one basi5 providing additional reading support outside of the classroom. Our reading support aims lo help children close the gap between their reading age and chronological age so they can fully access the rest of the national curriculum. We have worked hard lo recover from the setbacks of Covid 19, when we were not allowed into schools, our programmes were suspended. and many volunteers left the role. Over the past few years, we have recrui16d and trained more volunteers whilst wothing hard lo relain the ones we already had. We are incredibly proud that as a result. by the spring term 2025 we had 30 trained and active volunteers supporting over 650 children. All the schools and children we work with are in areas that feature highest on the income deprivation affecting children index IIDACII which measures the proportion of children in the school that live in low-income households, and we target schools where the level is 500/0 or higher. This ensures we are reaching children that live in an area of high unemployment and high levels of household poverty. We support children from Year 1 to Year 6 who are selected lo participate by their class teachers because they are at risk of falling behind in education or will benefit in terms of reading confidence by taking part. Most have identified gaps between their reading age and chronological age. Ready Steady Read recruits and trains volunteer readers who deliver one to one reading support to chIldn to improve literacy levels. confidence and encourage them lo read for pleasure. We operate 3 reading schemes per school year to coincide with the academic school terms, and we have developed a reward scheme to encourage the children to read both in school and at home. Each volunteer supports 7 or 8 children each term. We also operate reading schemes and challenges not requiring one to one volunteer support and we provide literacy support in the form of reading comers in schools. sponsorship of lending libraries and donation5 of books to school libraries and classrooms, these books to be read both at home and in school. Reading schemes and other initiatives As we moved into this financial year. we Gonlinued to incorporate our additional reading schemes and initiative5 into the support offered lo schools. However, ensuring children have someone lo read to every week in a one-to-one setting is where we can have the greatest impact as a charity. The Ghildren develop relationships with their reader which in turn leads to confidence and enthusiasm and helps develop a love of reading. This year we introduced a Volunteer Efforts Award scheme to run alongside the one to one support scheme. A local business provided a monthly donation of books which were used as prizes to recognise outstanding efforts in reading by children and volunteers chose one reader from them group each term to receive this award.
READY, STEADY, READ TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In December 2024 we also provided a bundle of seasonal books to all the schools we support for their class libraries. Our biggest success this year was our Summer Reading and Writing Challenge. Children, especially those from lower socioeconomic backgrounds, experience a loss of reading skills over the school summer break. According lo the National Summer Learning Association, this Gan amount to a loss of two months of reading progress during the summer months. We created a summer reading and writing challenge to help prevent this summer slide for outgoing year 5 students. The book chosen for this challenge was The Final Year, by Matt Goodfellow, a highly relevant book for year five and six pupils who are facing their imminent move to secondary school. Another local business sponsored the purchase of these books and the literacy team al a local school trust, HCAT, created a workbook for the children lo use. 250 children from 10 schools participated, reading The Final Year over the summer break then completing a piece of writing linked to the book which was judged by the new year 6 class teachers al the end of September. One winner from each school was invited lo a celebration aftemoon tea al Walerstones Café in Hull where they had cake and drinks and choose a new book from the childrenig book section in store. None of the children had ever been in a bookstore before and it was a rewarding and humbling experience for the trustees involved and the feedback from the children and teachers was fantaslic. Volunteers The contribution made by our volunteers is invaluable. We have a broad spectrum of volunteers from retired lea¢hers, solicitors, nurses, university students, part lime and stay al home mums, and a team from a local Fire and Rescue st81ion. All our volunteers give up their lime free of charge because they are passionate about supporting disadvantaged local children and helping engage children in reading. Ready Steady Read follows a strict safer recruitment policy, and all our volunteers are fully risk assessed and DBS hecked and undergo training to ensure they are proficient in supporting children with literacy. Our volunteers tell us how much they enjoy providing reading support and how rewarding it. Our volunteers have also built close relationships with each other which is highlighted at our summer and Christmas aftemoon lea events where all our volunteers and trustees come together to celebrate our achievements during the year. Feedback received from the schools we support also reinforces how worthwhile our reading support is and how invaluable our amazing volunteers are. Achievements and performance Charitable activStie8 During 2024125 Ready Steady Read has supported 19 Hull primary schools with our volunteer one to one support, reading schemes and other inilialives. Over 1000 children have benefilted from our support this year. The combinalion of our various reading schemes has proven a great success in terms of improving children's reading performance, confidence and reading miles. We receive leslimonials and feedback from our schools confirming not only that many of the children who participate in our reading schemes are moving up book band reading levels as a result but are also reading more independently and confidently. We continue to receive fantastic support and monetary and book donations from local businesses and supporters which Pfovide 8 boost lo our resources. Financial review Financial position The financial position of Ready Steady Read as al 31 March 2025 is satisfactory. Deposit balances are maintained as to be able to meet OLrtgoings, and we have sufficient reserves to meet current commilfflents. The trustee's fLXUS remains on maintaining levels of funding 'so Ihal we can deliver to as many schools as possible in areas of deprivation in Hull. Principal funding sources Ready Steady Read has a bid writer who assists with applications for funding from grants and trusts. We also have valuable local business support and linking local businesses to local education is raising awareness across
READY, STEADY, READ TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 the community about the need to improve educational outcomes in Hull and, increasing awareness of corporate social responsibility that will help develop future support for our project Reserves policy Vve have a reseNes policy which is reviewed annually. The Injslees are mindful of the need to maintain sufficient reseeS lo meet current commitments if the income of Ready Steady Read declines. Our reserves policy is to hold unrestricted funds between 6 and 12 months but not exceeding 12 months of expenditure. We close the financial year with reserves at 11 months which meets our reserves policy. However, a5 we continue lo increase our reach and recruit more volunteer5, we expect our level of reserves to drop lo around 6 months this next year. Structure, governance and management Governing document The ¢harily is contro118d by ils constitution (dated 24 May 2016) and is registered as a Charitable Incorporated Org8nisation ICIOI. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were.. Mrs PA Stead Mrs J L Walker Mr N Parkinson Mrs SL Mays Mrs R Weeks Mr8 C Mudd Recruitment. resignation and appolntment of new trustees Our Iruslees remain the same as last year. Apart from the first charity trustees. every trustee must bé appointed for a temi of 3 years by resolulion passed al a trustee meeting. In selecting individuals for appointment, the trustees must have regard lo the skills, knowledge and experience needed for effective administration of CIO. Supplier payment policy The company's current policy concerning the payrnent of trade creditors is lo follow the CBI'S Prompt Payers Code (copies are available from the CBI. Centre Point, 103 New Oxford Street. London WC1A 1DU). The company's current policy concerning the payment of trade creditor5 IS to.. settle the terms of payment with suppliers when agreeing the terms of each transaction.. ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts., and pay in accordance with the company's contractual and other legal obligations. At the year end all suppliers had been paid and nothing was outstanding to any party. The trustees report was approved by Ihe Board of Trustees. Mrs J L Vvalker Trustee 16 January 2026 1{.1. 202
READY, STEADY, READ CHARTEREO ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF READY, STEADY, READ FOR THE YEAR ENDED 31 MARCH 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ready, Steady, Read for the year ended 31 March 2025, as set out on pages 5- 14 from the company's accounting records and from information and explanations you have given us. As a practicing member firm of the Institute of Chartered Accountanls in England and Vvales IICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.¢omlmembers handbook. This report is made lo the charity's Trustees. a5 a b¢xly, in accordan with the terms of our engagement letter dated 22 November 2023, our work has been undertaken solely to prepare for your approval the financial slatemenls of Ready, Steady, Read and slat& those matters that we have agreed lo stale lo the charity's Trustees as a body, in this report in accordance with AAF 07116 as detailed al icaew.comlcompilation. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than Ready, Steady, Read and the charity's Trustees as a b¢Jdy for our work or for this report. 11 is your duly lo ensure that Ready, Steady, Read has kept adequate accounting records and lo prepare slalutory financial slalemenls that give a true and fair view of the assets, liabilities, financial posltion and surplus of Ready, Steady, Read. You consider that Ready, Steady, Read is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Ready, Sleady, Read. For this reason, we have not verified the accuracy or completeness of the 8c¢ounling records or inforrnation and explanations you have given lo us and we do not, therefore, express any opinion on the statutory accounts. Rainbird Hanton Limited 14 January 2026 Charterod Accountants The Temple Hesslewood Offic8 Park Ferriby Road Hessle East Yorkshire HU130L United Kingdom
READY, STEADY, READ STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from.. Donations and legacies Charitable activities 20.314 20.314 6.,052 6,052 Total income 20,314 20,314 6,052 6.052 Expenditure on: Charitable activities 16,798 16,798 14,380 14,380 Not Incofftel{expendlturel for the yoarl Net movement in fund8 3,516 3,518 {8,328) (8,3281 Fund balances at 1 April 2024 12,917 12,917 21,245 21,245 Fund balances at 31 March 2025 16,433 16,433 12,917 12,917 The statement of financial acllvities includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities. The statement of financial activities a150 complies with the requirements for an income and expenditurè account under the Companies Act 2008,
READY. STEADY, READ BALANCE SHEET ASA T31 MARCH 2025 2025 2024 Notes Fixed assets Tangible a5setS Current assets Debtors Cash at bank and in hand 10 632 16.580 6C6 12.700 17,212 13.3C Creditors.. amounts falling due within one year 11 17801 <3901 Net current assets 16,432 12,918 Total 988ets less current liabilities 16,433 12,917 In¢ome funds Restricted funds Unrestricted funds 16,433 12,917 16,433 12,917 The company is enlilled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The dlrectors acknowledge their responsibilities for complying with the requirements of th8 Companies Act 2006 with respect lo accounting records and the preparation of finan¢ial statements. The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime, The financial statements were approved by the Trustees on 16January2026 Mrs PA Stead Trustse MrsJ L Walker Trustse Company registration number CE008064
READY, STEADY, READ NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Ready, Steady, Read is a private company limited by guarantee incorporated in England and Wales. The registered office is 29a Holderness Road, Hull, East Yorkshire. HU8 7NA. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning documentl. the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charitie5 prep8nng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}" (effective 1 January 20191, The charity is a Public B&nefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for ¢haritie5 not to prepar8 a Slalement of Cash Flows. The financial slalernenls are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements havé been prepared under the historical cost ¢onvenlion, Imodified to includé the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern Al the lime of approving the financial slalemen15, the Trustees have a reasonable expectation that Ihe charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees oontinue to adopt the going concern basis of accounting in preparing the financial slalernenl5. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitablé objectives. Re5tncled funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the note5 to the financial stalemenls. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to il after any performance conditions have been mel. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on reIpt or othemise if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If Ihe amount is not known. the legacy is treated as contingent asset.
READY, STEADY, READ NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequenlly measured al cost or valuation, nel of depreciation and any impairmenl losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Computers 330h pa on cost The gain or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.6 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment 1055. If any such indication exists. the recoverable amount of the asset is estimated in order lo determine the extent of the impairment1055 lif any). 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al call with banks, other 5hort-lerm liquid investments wilh original maturities of three months or less. and bank overdrafts. Bank overdrafis 8re shown within borrowings in Cur nl liabilities. 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity become5 party lo the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and sellle the liability simultaneously. Baslc flnancial assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried al amortised ¢osl using the effective inleresl method unless the arrangernenl conslilules a financing Iransaclion, where the transaction is measured al the present value of Ihe future receipts discounted at a market rate of inleresl. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instrument5 are subsequently carried al amortised cost. using the effective interest rale melh¢Jd. Trade creditors a obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wthin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method.
READY, STEADY, READ NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢counting policie$ (Continued) Derecognition of financial liabilities Financial liabilitie5 are derecognised when the charity's contractual obligations expire or are discharged or canolled. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilitie5 that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Donation8 and legacies Unre8tri¢ted funds Unre8tri¢ted funds 2025 2024 Donalions and gifts Grants Sponsorships 20,314 6,052 20,314 6,052 Charltable actlvltles Charitable Income Charitable Income 2025 2024 Sales within charitable activities
READY, STEADY, READ NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable activitie8 Unrèstricted Charitsble Expendlture Unrestrlctsd Charltable Expenditurn 2025 2024 Insurance Postage and stationery Advertising Materials Training DBS Travelling Evenls and activities Bank Charges Legal Expenses 1.057 1,100 1,214 4,888 80 2,589 510 1,185 43 2,544 1.032 508 599 8.799 110 463 605 810 64 15,208 12,790 Share of support costs (séè note 6) Share of governance costs (see note 61 1,200 390 1,200 390 16,798 14,380 Analy•18 by fund Unrestricted funds Restricted funds 16,798 14.380 16.798 14.380 10-
READY, STEADY, READ NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 Net movement in funds is Staled after chargingl(creditingl Depreciation of owned tangible fixed assels Trustees None of the Trustees lor any persons connected with them) reIVed 8ny remuneration or benefits from the charity during the year. Tangible fixed assets Computern Cost At1 April 2024 518 At 31 March 2025 518 Depreciation and impalrment At 1 April 2024 517 Al 31 March 2025 517 Carrying amount At 31 March 2024 Al 31 March 2025 10 Debtorn 2025 2024 Amounts falling du8 Wlthin one year: Prepayments and accrued income 632 606 11 Creditors.. amounts falling due within one year 2025 2024 Accruals and deferred income 780 390 12-
READY, STEADY, READ NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Analysis of netassets between funds Unrestricted Restricted funds funds 2025 2025 Tolal Unreslrrcted funds 2024 Restricted funds 2024 Total 2025 2024 Fund balances at 31 MarGh 2025 are represented by.. Tangible assets Current asset511liabilitiesl 16,432 16.432 12,916 12.916 16,433 16.433 12,917 12,917 13 Related party transactions Theffj were no related party Iransaclions in the year 13-