**Charity registration number 1184137 (England and Wales)**
## **ABC BOOK CLUB**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **ABC BOOK CLUB**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
T Dowd D Spragg J De-Machen (Appointed 31 July 2024) D Maclaren (Appointed 1 May 2024) A Falase-Koya (Appointed 1 May 2024)
**Charity number (England and Wales)** 1184137
## **Independent examiner**
Perrys Audit Limited 4th Floor 399-401 Strand London United Kingdom WC2R 0LT
## **ABC BOOK CLUB**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
## **ABC BOOK CLUB**
## **TRUSTEES REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
## Objects
For the benefit of the public to advance the education of children, in particular but not exclusively, by distributing children’s books to local schools in need of resources, the installation of reading areas and libraries, and the purchase and assembly of furniture and furnishings in schools.
## Activities in the Year
April 24 – March 25 saw 64,575 books donated to 114 different local schools and organisations by ABC. The donations were made predominantly to primary schools in a variety of areas, but also to nurseries, childminders, hospitals and community spaces.
## _Pickhurst Infants Academy- West Wickham_
This tree themed library was built using money fundraised by the school’s Parent and Teacher association. Over 1,500 books were used in its creation all provided by ABC. The charity designed, built and launched the library in April 2024.
## _St Michael’s C of E Primary School- Sydenham_
ABC’s pro-bono project of the year was fully funded by the charity with some support from our partners. The school readied the room by painting and carpeting beforehand. The school struggled to encourage children to read and this community space has been opened to support children reading with their carers as well as during school time
## _- Beaumont Primary School Croydon_
This school was determined to transform a small unused room into a magical space for the children. They fundraised to support the design and implementation of floor to ceiling vinyls along with a tree created by set designer Olivbells. The Director of Education for Croydon opened the library in September 2024.
## _– Pembury Primary School Tunbridge Wells_
A large fundraised-for budget and a huge room to transform led to ABC’s creation of an exciting Rainforest themed library. An enormous tree was installed by set designer Olivbells to create an impressive focal point in the room and over 2000 books filled the shelves.
## _- Watergate SEND school Sydenham_
This transformation of an area of a corridor into a beautiful reading area was possible on a tiny budget due to collaboration between ABC, other schools and the Watergate teaching team.
## _- Kenley Primary School Kenley_
This school had a library that was unloved and unused. It was not fit for purpose with its tall shelving and unhelpful layout. Another ABC project on a tiny budget enabled a re-vamp and overhaul of existing items and a refresh with some new additions.
- 1 -
## **ABC BOOK CLUB**
## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## _– Pratts Bottom Primary Pratts Bottom, Kent_
This tiny primary school had a tiny budget and ABC was able to breathe new life into existing bookcases, purchase rugs and cushions for the children to read on and a teacher reading chair for them to listen to stories. Some vinyl stickers on the walls brightened the space and made children want to visit their new library.
## Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## **Achievements and performance**
## **Financial review**
During the year the charity has received £120,747 (2024: £90,018) in donation income and has incurred operational costs of £112,752 (2024: £78,663) resulting in a net surplus of £14,957 (2024: £11,922).
Total funds as at 31 March 2025 are £44,508 (2024: £29,551). In the current economic climate, consideration has been taken to allow for the charity to continue its vital work whilst also contemplating its costs and the necessity of all spend. ABC plan to utilise the majority of funds on account for operational costs and going forward using monies raised by PTAs and schools to build libraries where possible to avoid overspending.
Financial activity has been significant this year as the charity has secured a £92,463 donation from the Acorn Group and invoices and payments are now managed directly by the charity. The charity is in a stable financial position following the current economic uncertainty but is prepared and able to adjust its offering and spend depending on economic conditions. Most of the activities have been carried out based on non-monetary donations of books which we expect to do more of in 2025/26
Payroll giving is in place for members of Acorn Group staff, raising a further £5,000 per annum approx. The focus of the Trustees in 2025 is the procurement of external funding from charities and organisations in order to allow for further library projects to be undertaken.
The trustees also gratefully acknowledge all the voluntary and financial support received throughout the year which has enabled it to continue ensuring that the objects of the charity are reached.
## Reserves policy
The policy of the Charity is to keep reserves to a minimum and to ensure that all donations are used for the furtherment of the objectives of the charity.
## **Structure, governance and management**
The Trustees who served during the year and up to the date of signature of the financial statements were: S Sargent (Resigned 21 January 2025) R Yazdani (Resigned 21 January 2025) T Dowd D Spragg J De-Machen (Appointed 31 July 2024) D Maclaren (Appointed 1 May 2024) A Falase-Koya (Appointed 1 May 2024)
- 2 -
## **ABC BOOK CLUB**
## **TRUSTEES REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## Recruitment and appointment of trustees
## Trustee Selection
The trustees are appointed on a basis that they can each bring a unique view and experience to the running of the charity.
## Management
Acorn Book Club (ABC) has no paid full-time employees and is run by the trustees. The charity is reliant upon the time, skill and resources donated by its trustees and other supporters, for which it is extremely grateful. The trustees receive no remuneration or other benefits.
The trustees report was approved by the Board of Trustees.
D Spragg **Trustee**
1 September 2025
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## **ABC BOOK CLUB**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABC BOOK CLUB**
I report to the Trustees on my examination of the financial statements of ABC Book Club (the Charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Declan McCusker FCA FCCA Perrys Audit Limited 4th Floor 399-401 Strand London WC2R 0LT United Kingdom
2 September 2025 Date: ............................
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## **ABC BOOK CLUB**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**2025**
**2024**
**2024**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**2**
120,747
78,291
11,727
Charitable activities
**3**
6,962
567
-
**Total income**
127,709
78,858
11,727
**Expenditure on:**
Charitable activities
**4**
112,752
66,936
11,727
**Total expenditure**
112,752
66,936
11,727
**Net income and movement in funds**
14,957
11,922
-
**Reconciliation of funds:**
Fund balances at 1 April 2024
29,551
17,629
-
**Fund balances at 31 March 2025**
44,508
29,551
-|**Total**
**2024**
**£**
90,018
567|
|---|---|
||90,585
78,663|
||78,663|
||11,922
17,629|
||29,551|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **ABC BOOK CLUB**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2025**
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
**Net current assets**
**The funds of the Charity**
Unrestricted funds
**12**|**2025**
**£**
4,479
45,100
49,579
(5,071)|**£**
44,508
44,508
44,508|**2024**
**£**
553
31,218
31,771
(2,220)|**£**
29,551|
|---|---|---|---|---|
|||||29,551|
|||||29,551|
The financial statements were approved by the Trustees on 1 September 2025
D Spragg **Trustee**
- 6 -
## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
## **Charity information**
ABC Book Club is a charitable incorporated organisation. The registered office is 9 St Marks Road, Bromley BR2 9HG,
## **1.1 Accounting convention**
The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
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 it after any performance conditions have been met, 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 tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 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 its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes 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 instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are 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 within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 8 -
## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
**(Continued)**
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
## **1.8 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.9 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
117,315
-
Grants
748
-
Payroll giving
2,684
-
120,747
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
117,315
63,392
11,727
748
10,000
-
2,684
4,899
-
120,747
78,291
11,727|**Total**
**2024**
**£**
75,119
10,000
4,899|
|---|---|---|
|||90,018|
## **3 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|**Other trading activities**|||
|Sale of books|1,874|567|
|Project income|5,088|-|
||6,962|567|
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## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **4 Expenditure on charitable activities**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**Unrestricted**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
**Direct costs**
Staff costs
58,897
6,130
16,426
Bank Fees
134
-
178
Utilities
1,127
-
1,874
Rent and rates
3,315
-
2,107
Marketing and signage/display costs
3,990
-
6,436
Travel and Motor
5
-
5,675
Telephone and Internet
1,886
-
1,367
Storage boxes and maintenance
4,614
-
1,470
Waste Collection
360
-
210
Project costs
23,972
5,597
26,584
Sundry costs
137
-
-
Entertaining
110
-
-
Postage, Freight & courier
508
-
-
99,055
11,727
62,327
**Share of support and governance costs (see note 5)**
Governance
13,697
-
4,609
112,752
11,727
66,936
**Analysis by fund**
Unrestricted funds
112,752
-
66,936
Restricted funds
-
11,727
-
112,752
11,727
66,936|**Total**
**2024**
**£**
22,556
178
1,874
2,107
6,436
5,675
1,367
1,470
210
32,181
-
-
-|
|---|---|
||74,054
4,609|
||78,663|
||66,936
11,727|
||78,663|
## **5 Support costs allocated to activities**
|Governance costs
**Analysed between:**
Unrestricted funds|**2025**
**£**
13,697
13,697|**2024**
**£**
4,609|
|---|---|---|
|||4,609|
## **6 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
- 10 -
## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **7 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
||3|3|
|**Employment costs**|**2025**|**2024**|
||**£**|**£**|
|Wages and salaries|56,406|21,315|
|Social security costs|1,298|768|
|Other pension costs|1,193|473|
||58,897|22,556|
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2025**
**£**
3,387
1,092
4,479
**2025**
**£**
1,546
1,875
60
1,590
5,071|**2024**
**£**
-
553|
|---|---|---|
|||553|
|||**2024**
**£**
-
-
-
2,220|
|||2,220|
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## **ABC BOOK CLUB**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
|**11**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|1,193|473|
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
## **12 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**1**|**April 2024**|**Incoming**|**Resources**|**At 31 March**|**At 31 March**|
|---|---|---|---|---|---|---|---|
|||||**resources**|**expended**||**2025**|
||||**£**|**£**|**£**||**£**|
|General funds|||29,551|127,709|(112,752)||44,508|
|**Previous year:**|**At**|**1**|**April 2023**|**Incoming**|**Resources**|**At 31 March**||
|||||**resources**|**expended**||**2024**|
||||**£**|**£**|**£**||**£**|
|General funds|||17,629|78,858|(66,936)||29,551|
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
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