REPORT OF THE TRUSTEES FO R **THE YEAR ENDED 31 OCTOBER 2023** 

The trustees who are also directors of the charity for the purposes of the Companies  Act 2006,  present their  report  with  the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of Accounting and Reporting by  Charities:  Statement  of  Recommended  Practice  applicable  to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## OBJECTIVES AND ACTIVITIES 

## Objectives and aims 

The objectives of the CIO are to advance education and to promote the arts and culture for the public benefit in Bradford, West Yorkshire and the surrounding areas by promoting and proving opportunities (through events and activities) for the appreciation, understanding and enjoyment of the arts of literature, language and the spoken word. 

## Public benefit 

The CIO is focused on the development of literacy education and access to the arts and culture, with particular focus on the most socioeconomically disadvantaged members of society. The public benefit of literacy education and access to the arts and culture is well-evidenced,  incorporating  both  direct  and  inter-generational activities, increasing educational achievement, increasing levels of aspiration and social mobility, mental well-being and increasing civic engagement. 

The trustees have complied with their duty under the Charities Act 20.11 to have due regards to public benefit guidance published by the Charity Commission for England and Wales. 

## FINANCIAL REVIEW 

There were good donations reaching just over of £10k and a grant from  Burberry  at  £10k.  These  were  used  to  support  the  20024 Festival. 

The Trustees will review how best the charity can fulfill its objectives through  developing  future  funding  relationships  who  share  our ambitions to transform people's lives through access to literature and associated arts and culture. 

## Reserves policy 

The Reserves Policy, set by trustees, is that the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months of annual expenditure. We will work over a 3-5 year period to establish such reserves to reach this target and will review the reserves policy and target figure on a regular basis. 

Page 1 



## RISK MANAG EM ENT 

A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate  the risk  that  the charity  faces,  whether  internally  and externally. 

## FUTURE PLANS 

Our aim is to deliver outstanding projects which widen access to and appreciation  of world-class literature  and  which  use  literacy end cultural education as  catalysts for  social  change,  disseminating best-practice. Our plans are to work with Culture Squared CIC as a partner in the delivery of Bradford Literature Festival, developing and delivering longer-term community engagement, education and other special projects which meet our charitable  objectives. There  are exciting  years  in  prospect  - with  considerable  opportunities  for partnership working both in the run up to and delivery of Bradford 2025 (UK City  of  Culture)  and  longer  term,  supporting the implementation  of  Bradford's,  West  Yorkshire's  and  Arts  Council England's cultural strategies for the benefit of people and communities. 

## STRUCTURE, GOV ERNANCE AND MANACEMENT 

## Governing document 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **Organisational Structure** 

As a foundation  model  CIO, the charity's only  members  are its trustees. All decisions are therefore made by the board of trustees, though  certain  classes  of  decision  (such  as  changes  to  its constitution)  have  to  be  made  by  those  individuals  acting  as members rather than as trustees. 

There must be at least three Trustees. If the number falls below this minimum, the remaining Trustee or Trustees may act only to call a meeting  of the Trustees or appoint a new Trustee. There  is no maximum number of Trustees that may be appointed to the CIO. 

Page 2