Charity Number.. 1180559 Company Number: CE015532 LETS TALK READING CHARITA8LE INCORPORATED ORGANISATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charity Number. 1180559 Company Number.. CE015532 LEfs TALK READING YEAR ENDED 31 MARCH 2025 coNTE￿rS 1-5. Trustees, Report 6. Accountant's Report 7. Statement of Financral Activities 8. Balanc8 Sheet 9-13. Notes to the Accounts 5Ch8rity Number. 1180559 Company Number.. CE015532 LET'S TALK READING CHARITABLE INCORPORATED ORGANISATION TRUSTEES, AND DIRECTORS, REPORT FOR THE YEAR ENDED 31 IAARCH 2025 Reolsterèd Office Clo Suffolk Librarie5 County tsbrary Northgate Street Ipswich IP13DE. Registered in England and Wales. Prlnclpal Operatlonal office: cjo Eastem Angles Centre Gatacre Road Ipswich IP12LQ Trustees.. Mr R J He116ur MBE {Chair) Mr D Hughes Ms K Vittles BEM Mr J Hayward Alison Slewart-wheeler MBE Dr Clare Gartland [Resigned 13191241 Bank: The Co-operalive Bank, PO Box 250. Skelmersdale. WN8 6wr Purpos8s of the charity and maln activitles To advance the education of children and adults, living in Ipswich, in the subject of literacy through, predominantly, but not exdusively. woviding armd supportir4J programmes for the improvement of literacy skills. The main activities are undertaken lo further the charrty's purposes for the public benefft and the trustees have had regard to Charity Commission guidance on public tenefit. Achlevements and Perfomian¢e This has been an extraordinary year based on an unexperted and very large grant from Suffolk County Council and a contract to support the eady Yea￿ woth of the East of England 'Stronger Practice hub, ISPHI. This allowed us to run a prograrrime which was more than three times the sye of our nonnal annual activity and enabled us to do some research and trials to look to break new ground in improving Itteracy levels in Ipswich. Page I This year we have given away 11.874 free books in Ipswich. almost all to children. via other chartties. early years sethngs and schools. For the fourth Christmas in Suc￿sSion, we gave book-bags lo all ¢hildr8n atterKling earty years settings in Ipswich. We also bought and pad(ed a fi>rther 4.182 books fcK SPH to delNer to wpils in NorM¢h. 4erall, in Ip%vi¢h, 12.983 FeoFde ber*ffted from Let's Talk ReadiThJ's (LTR) artbyities: 7687 chikjren, 5,079 parent￿aLlUllS. 155 staff and 62 volunleers. As well as 38 earty years settings and 33 ￿hOOlS. good Working relatsonships have been m2irrtained Suffolk County Council, Ipswich Borough Council, Suffolk Cornmunty Foundation. Cltizen's Adwce Bureau. The Book Trust and two key local chartlies. ICENI and Homestart. In the Autumn, LTR became a fomal distribution partner for the Book Trusl. Our partnership wilh Happy Babies Ltd has continued to k mutually beneficial a15owing us to exparKI the number of thtekly parents arKJ batyes, sessions per week: Let's Talk BaW n(M t>ffered in 4 of the tuéfft's disadvantaged areas each YRek.' Gansborwgh, lfyfftitehouse. Chanlry arKI Wittton. We also offer lortnightly sessions in two centres fly vulnerable young parent5. Our volunteer base has remained very loyal and active. and we have been suc¢essful in recruiting anolher 8 'Storyiim8 volunteeTS' but a similar numter of adult litera¢y coaches have taken a txeak from coaching. LTR has continued to Pufsue the objective of oblainir¥J sustainable funding, combining kwxng good t>)ntacl with existing fiJndeTs whiFst gr8duaHy developing new opportunilies. particularly with national charities. In this year, with the major bLrt temporary funding boosts, LTR has taken the opportunty to develop new offerings for both earfy yeats, settiros and schools, an(1 has carried out some researth and trialling. The new develOpment￿InvestigatIOnS include.. PEEP {from PEEPLE tharityl training to help EY staff successfully engage parents Irlens screening for Years 5 arKI 8 puptls in 4 Primary schools Funding Idens tinted glasses for 20 pupils Training primary school staff to cany oui Irlens sefeening in the future Funding primary schools to run a Itmiled project to re(lU￿ the numl*r of pupils failing to pass the SATS Reading tests. Offering lo train EY and pnmary school staff to be adult literacy coaches Ern￿¢Y1n9 a Consuttant from UnNefW of Suffolk to tnvest¢9ate the business ease for annual screening for dysle￿a and lrfens in primary schools, plus analysing LTR'S Impact. In November 2024. LTR'S activities over 9 years V￿re recognised by being given a King's Award for Voluntary SeThice. This award also shows the strength of local appreciah'on of our services. LTR'S maturity and prolessionalism has clearly been demonstrat￿ this year wyth its ability to develop and deliver such a major wogramme of work. Structure and Govemance LTR became a separately registered Ghar5ty on SITh November 2018.lts Constitution is that of a Charitable Incorporaled Organisat70n (CIO), the cnty voting members being its charity trustees. The CIO has power to do anything whith is calculated to further tts obje¢tlsJ or ts conducive or incidental lo doing so. Page 2 The Board of Trustees, ￿tch is responsible for all strategic and financtal management of the chartty, meets 3 to 4 times per year. Every appointed trustee is appointed fer a tem of 3 years by a resolution passed at 3 prorerfy convened meeting of the INslees. In selecting indNiduals for appoirrtm*rt as trustees, the ¢*anty tnjstees seek the skills, kr￿ and expeTTence needed for the effective admTnrstratron of the CIO. trustees r￿1ve a full induction. Covering strategy, approach. projects, partners and their responsibilities. LTR 1$ in the process of appointing tsvo new Trustees during summer term 2025. Financlal Revi8w LTR oper3tes 3n appropriate Resetves polity, Ythith Vfas formally updated rn M8rch 2025. It is deemed sensible to set aside enough funds to enable the tharity to contrnue to employ tts coordinator for 12 months, to retain the office and other key elements like its website, insurance 8nd financlal reviewer. This will require funds of the order of £16.000. Potential redur•Jancy and w1nd.upld0su￿ costs *Dutd be mrnTmal: say £1.000. In order to cover short temi dips in funding andlor essential expenditure ahead of a grant being rec£ived, a reserye equivalent to an average 3 months of normal operatitin (minus the ¢0* Considered above) shouk8 be held.. _ £10,000. Finalty, 3 small feserve should be set aside to cover the launch of new projeds, providing LTR with the abilty lo move quickly Ythe￿ necessary. in advance of grant support.. £5,000. The total Reserve lar9et 15 Ihereffft apwoximatdy £32.000. LTR was th to cary £90,954 cash resetves into FY 25126. Of this. £15,C￿￿ was deferred from FY2023124, and approximatefy £30.000 is earmarked to )mplete the programme agreed wilh Suffolk County Council. £32.Crt30 fomK the planned Reserves. The year was fijnded almost entirety by a 'Small Community Grant. from SuffofK Courrty Council, for ￿tch we are very gratefvl. This has fvnded a very full programme from June 2024 to end of July 2025. Additi'onally. LTR w8s contracted by the East of England 'Stronger Practice Hub, {SPH) to provKle some 4.670 books to ewly years pupils auoss Ipswith: LTR also agreed to buy aTh pack a further 4.182 books to be th"stributed by SPH to pupils in Norwich. Profft and Loss Aceount Revi•w ￿ Income: 111 April 2024 to 31S1 March 2025: £ 52,093 ￿$h reserves were brought forward from FY2023124. 01 which £15.000 v4as a grant from the Rope Trust. deferred to FY2516. 0 £17.110 VRS first part of the contracl from SPH for services in FY2415. £1,950 from Suffolk Communty F¢)undalion was aFso deferred to FY2415 The remainder was reserves. Contract extensions in FY2415 from SPH were for a total of £15.510. The grant from Suffolk County Council was £129.579. paid in 4 tranches. The Suffolk Dys￿xia SocAety had lo wind up their operation and passed £1,645.12 of their reserves to LTR. The Suffolk Book Lea9ue donated £500. There were a variety of other individual donations amounting 10 £370. Pa8e 3 Bank Inte￿8t amounted to £1,232.89. Total in.year income recesved was £148,3CQ.08. Of this, £129,233.65 was RestriGled and £19.066.43 was Unrestricted income. In addiiion. LTR volurrteers donated m¢Jre than 3,380 hours crf theirtime, worth at least £49.000. A number of new books were donated to LTR, which have not been induded in the accounts, but are include(l in Stock. Rovlèw of Exp8ndlture: From 111 Apn'l 2024 to 3111 March 2025.. Total expenditure wa3 £99.818. Of this. £96,716 was Restricted and £3,102 was Un￿StrICted expenditure, which induded the following: £45.584 was spent on the purchase of 20.091 books. plus a similar numbèr of carrier bags. £15,259 was spent on running weekly parent and baby sessions. £10.000 was granted to hyo primary schools to fund literdcy improvement projects. £600 vras spent on author visits to primary schools during the Red Hat Festival. £7,878 was spent on Irlens s¢xeenmg and related staff training In 4 schooLs. £4,105 was spent on providing PEEP training to 12 EY staff. £5,000. as half the total fee, was pad to Universrty of Suffolk for Consullancy on LTR'S Impact Evaluation. £818 was 6pent on adult lsterary by Lefs Read Ipswtch. Printing costs were £1.186. Storyttme volunteer expense costs amounted to £471. All 3UPPQrt costs were kept well under control.. Office rental Increased to £1,925 pa. The insurance premium increased to £700.63 to cover the fftcreased programme arKI related increase in Trustee Indemnity cover. Oper*ion of the *pbsFte, plus Zoom meetings and payrdl software costs were £595. Microsoft costs remained 8t zeTV be¢au8e of LTR'S tharity sktus. The accounts were 'extemally reviewed, at a cost of £850. Employment costs rose to £14250 mainly to lakn'ng on a secoTra partthe Member of staff to delFver the large prD3ramme. £304 was spent on Iwo ￿lUrtxsmed laptops. Best Vaiue Purchasing: considerable savings continued to be made by spot.buying books at the pofftt of maximum discountsro and re￿atir0 very good bulk dlsc>unts vAth publishefs. Sto¢kJlnv•fit¢ry and Assets: Stock.. Approximately 20,100 btsjks were purchased duriryJ the year. In additson. some 300 tthks *Ere donated to LTR from various sources. LTr has completed FY2024125 ￿ryth substsntial stock,, Page 4 Approximately 6,410 new books across the age range of O to adult worth £11,794. (based on the highly discounted average purchase cost of £1.84 per book in 2024125. The exp8ded book price inllation did nol occur). In addrtion. there We￿ 415 dvaklanguage and adult literacy manuals y￿rth £2.504. 1.910 other books worth £3,950. Bags". paper carrier bags worth £1,368 Pre4oved books aTrd statio￿ry etc worth £431 Overall stock at yearend has been valued at £20,04?. Assets: LTR finished the year with fixed assets worth approximately £511. Mr J Helleur, MBE Chair of Board of Trustees On behalf of the 808 ZOZ5 Pa8e 5 Charity Number.. 1180559 Company Number. CE015532 Indwnd•rf Ex•Mh￿￿8 Report to thè Tnot••8 of Ltfg Talk R•adlng ¢10 I repgrt Its tha charity truskes on my ex1mfflal￿ ol the a¢c)Juftts of ¢*•rty l¢r the year •nded 31 Marctt 2025 Pf• Sét out on pages 7 10 13. R••poft¥th •nd b•JM ol r•port Aa the ¢aaritys trugw am ￿sPor￿s￿le for the m•rnboa ol lh• #ccovnls in a¢￿1￿¥￿£• with the rtrouirements ¢1 tha Ch8ri1i?3 Act 2011 1'th¢ Acl'l. I W In of my 8￿minabon ol the ch8ntl$ Bcthnts ¢arrtd oul under Jecion 145 Df thè Aei and in cairyirwJ oul my 8XWAfft•kn I ha4* lollwd ¥U the OK•c¢1￿15 gwi by c(￿￿￿55¢0rt UTr1Or6e#￿ 1495Xbl of the I ha¥• rK)rnpl0I￿ my ewninalw l onfirm Ih81 no m81Ori)I mèM6rn ho¥0 my aitenboft in W4th tho ox8mift8bon gi¥ing me ¢auso ta belove that sn any mat8r41 respect l. aca)unting records nolkèpi ifi r¢spoa ol tho tharity as r4qwed by 130 of lh8 *xl". or 2. thè occwnts dg Mt a¢w(5 wrth thgs8 ￿cOrds". or IA¢couftts Rwrtsl Regu￿1￿)￿$ 2008 any lèa￿¢￿￿ent th3t Ihb a¢eOUnt5 9we p Tu¢ 11¥ I matter p8rt of an w4iew0enlu8m￿12l0n. I h8Ye no eon¢ems and ¢¢rnè aU￿S no other mallfr￿ In c4nngttion fft lh8 ey8mw)gth0# 10 which attenfv)n siioyld bè dr8wn In Ihks feport In #fyjer ￿ en2b18 3 propèr ufid6r818n4irg of IM accounts10 bo r88¢1W. Sar•Tr Godd8rt1 FCA Sarah Gc*JLi•nl LNxited. Ctsrtgrpd Awnlafiis Sapphitg Hovsg Cri8tal 8usms Cefti Knohtydale Road 1p$￿C IP14JJ 41ilzr Page 6 trjts 00 ¢0 Z C>rgrJoooC Charity Number. 1180559 Company Numb8r. CE015532 LEfs TALK READING BALANce SHEET AS AT 31 MARCH 2025 2025 2024 Flx•d As8•ts Tangible 8$5ets 511 377 Curr•ntAts•ts Stock DÈblo C8sh 81 bank atys in hand 20.047 1.224 90.954 112,225 9.339 2.941 52.093 63.973 CrediiOfS.' amounts falling due vrithin one yeBr 18,042 20,851 Ntt currgnt 94.183 43.122 credi10￿.. gfflounts laying Llue oulyde ono year 115.0001 NET ASSErs 94.694 28.499 Ro9oP4e¥ ReseNe$ broughl foryrard Resiri¢led Unreslrithed 6,903 21,596 24.738 18.306 28.499 43.om Movemenl N? year Reslrieied Untestricted 49.628 16.567 117.835) 3.290 66.195 114,545) Restrided Funds Unre51rided Fynd5 TOTAL FUNDS 56.531 38,163 94.894 6.903 21.596 28.499 The wès entst￿l tts exwftpkn) from under seclion 477 01 the Compan*8 Aci comth'rhy with tht Ywimrements of ￿ Comparw Aci 2CQS ￿7th re¥ecl Its a¢o)urtts"ng .. arrfl %gred on its beh&1 by.. el Tru$t¥é On téhall of the board Page 8 CharFty Number. 1180559 Company Number. CE015532 Notes fomilng part of the financial statements for the yèar ended 31 IAarch 2025 1. Accountlng Pollcles Th8 principal accountin9 policies are summarised below. The accounting policies have been cJ)nsistently throughout the year and in the preceding year. (al Basls of accounting The charity constitutes a public benefit enlty as defined by FRS 102. The financial statements have been prepared in 3¢cordance with Accounting and Reporting by Charities.. Statsment of Recomm￿ded Practits a￿'C2bIe to charitÈs p￿Paring their accounts in accordance with the Financial Reportyng Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Sland8rd appliGab18 in the United Kingdom and Republic of Ireland {FRS 1021, the Charities Act 2011. the Companies Act 2006 ano UK Generally Accepted Accounting Praclice. The financial statements are prepared on a going concern basis under the historical cost convention, mi)dtfied to include certain items at fair value. The financial slataments are presented in sterling which is the functional currerKy of the charity and rounded lo the nearest £. (b> Fund accounting Unrestricted funds are availa1￿e for use at the discretion of the trt￿tee8 in furtherance oi the general objectNes of the chartty. Restricted funds arp subjeded lo restrictions on their expendrture imposed by the donor orthrough the terms of an appeal. (cl ITbcoming re*ourees All incomlng resources are induded in th8 Statement of financial actNities when the Charity is entitled to, and virtually ortain to receive. the income arKI the amount Can be quantified with reasonable accuracy. The following policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Fina￿481 A¢iNities when receivable. Granls, where entitlement s not conditional on the ddivery of a specific perfomance by the charity, are recognised when the charity becomes uncondttionally entitled lo the grant. The value of services provthd by volunteers has not been indude(l in these accounts. Investment income 15 indudeil then recetvable. InGoming resources trom grants, wthere related to performance and specrfi deliverables. are accounted for as the charity eams the right to consideration by ils performance. Page 9 Charity Number.. 1180559 Compary Number. CE015532 {dl Re80Ufces expended EX￿llure i¥ rerjjgnised on an accru81 basts as 8 liat#bty ts inwrred. EX￿￿rture indudes any VAT *tiich cannot be luHy reco¥ered, and Is reported as part of the exFendlluTe to it relates- Charilabte expenditure comprisès tht)se costs incurfed by the charity in the delivery of its activities 8fKJ servlces for its benef￿lar1es. It includes both costs that can be allc 2024 2024 2024 2025 2025 Alutt Lrt•ra¢y. REI LTBIPEEP UK Ba 818 15.259 6.962 10.600 818 16.259 8.962 10.600 134 9223 134 9.223 Grafi MSTC 8¢ok Pur¢h Communty Evenl¥ Cr8ft Events S¢hoots Inffrnlfft• 45.446 45.S84 13.126 13.12$ 2CK) 2CQ 113 14.117 133 72 2,582 72 8.043 12.eB9 29 1.248 104 5.481 578 37 91 173 372 18 $62 7S 257 412 18 597 sof￿r9 AJv¥nffjK¥J CIO Start.tJp cosls Pootsge antt siatiotiery Room Hi Rant Pnnting Statson•ry Haspiialily Trainirg #nd Coordlfi8D Travel 35 303 S2 330 47 99 ao 910 870 1.845 1.710 358 1.186 3S8 16 13 5.420 10 5.420 569 35 92 490 Profess￿n￿l Fe8$ Steck Mtfvtment Ooprg¢iptyory 13781 110.7081 170 757 113 132 12 136 32S £￿u￿tan¢Y 650 J,ioz F9.818 31,165 36,041 P8ge11 Chanty Number.. 1180559 Company Number. CE015532 S. Net Incoming Regour¢es for the Year This 15 Stated after ch8rging: 2025 2024 Depfeciation Independent examiners f Salaries and wages 170 650 14,117 14.937 125 8.043 8,768 No emFloyee rectlved emoluments of more than £60.000. The average nLmber of employees during the period was one {2024.' one). 8. Trustse Remuneratlon & Relatad Party Transact•ons No members of the management commitiee received any remuneTh8tion during the year. No twstpe or othgr person relatèd to the chaiity had any personal interest in any mntra¢t or transaction efrtered into by the tharity during the pEriod. 7. Taxatlon As a charity, Let's Talk Reading is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation ol Chargeable Gains Act 199210 the extent ll￿t these are appl￿ to its ch8ri1able ob￿. No tax charges have arisen in the Charity. 8. Tangible Fvxed As8ets Offlce Equipm•nt 2025 Offlce Equlpment 2024 Cost blf Addstsons At 31 March 2025 808 76 304 1,188 Accurnulaled Depreciation blf Charge for the year At 31 March 2025 507 170 677 381 126 507 Net book value At 31 March 2025 511 377 Page 12 Charity Number.. 13805S9 Company Nurnber.. CE015532 9. Debto 2025 2024 Grants ré¢xfvable Gtft reco¥?ratAe Prepayments 35 1.189 1'.224 591 2.541 9. Cf•thtorn: FaHln9 th* Wlthln On• Year 2025 2024 Trade uedilo Taxation 8nd sotial seojrtty Net *3ges 1.770 540 15.OCQ 82 650 18,042 19.060 Pgn510n AcuuaF5 20.851 10. CY•thtorn". Arnountl Falling Outslde One Year 2025 2024 15.000 15.000 11. AMty818 of Nèt Awts Be￿•en Funds Rtstdcted Unre8trletsd Fltnds Funds 20215 2020 Totsl Funds 2025 Tanglble frxed assel¥ Currenr 8sselS Cvrrent l$8ts"lilies Lon*iemi118bllilies 103 38,791 17311 511 172,225 118.0421 73.434 117.3111 56,531 38.163 94,694 Restrfeted Unre8trJcted Fun¢l8 Fund8 2024 2024 Total Funds 2024 Tangrble fixed awl$ Current 8s9els Current liatsifili05 Long-ienn ltsbtlities 340 40.889 119.326) Is.000 6.903 37 23,084 (1,5251 3T7 63.973 (20.8511 15.000 28.499 21.596 12. Mowfflents In Funds At 1 Aprtl Incomlng Outgolng 2024 Resou￿?* RO80u￿8$ Translern At 31 March 2025 R08tr1cted fvnds 8.903 146.344 196,7151 58.531 Unrostrlctgd lunds 21.S96 19.869 13.102} 38.163 TOTAL FUNDS 28,499 166.012 99.817 94.694 Pa9& 13