Charity Registration No. 1184968 ASSISTING BERKSHIRE CHILDREN T<) READ (CIO) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 ASSISTING BERKSHIRE CHILDREN TO READ (CIO) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Paul Dieppe (Chair) Mrs Pauline Harper (Deputy I:hair) Mr Stephen Smith (Treasurei > Mr Michael Edwards Mrs Jenny Cooney Mr Adrian Meldrum Mrs Claire Herriott Mrs Nadia Boyes (resigned 4 h April 2023) Mrs Hannah McNicholl Mr Kaustav Dey (resigned 4th September 2023) Ms Leorah Stewart (resigned 4th September 2023, reappointed 22nd February 2024) Operational Management Committee Mr Paul Dieppe Mr Stephen Smith Mrs Marcia Rowlinson Patrons James Carter Julie Cohen Dan Freedman A.F. Harrold Ambassador Katie Fforde Registered Charity Number 1184968 Accountants C F Limited 20 Woods Road Caversham Reading RG4 6NA Bankers Lloyds Bank PLC ASSISTING BERKSHIRE CHILDREN TO READ (CIO) CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-15 ASSISTING BERKSHIRE CHILDREN TO READ (CIO) TRUSTEES, REPORT FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 gt The Trustees present their report and financial statements for the period from April 1. 2023 to 31 March 2024. The financial statements have been prepared in accordance with the accoun.ing policies set out in note 1 to the financial statements and comply with the Charity's governing document, the =harities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable o charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK an( Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016) Objectives and activities The objects of the Charity are to advance the education and self-confidence Df children in Berkshire, particularly by helping them overcome reading difficulties and thereby promoting their gei ieral well-being. The Trustees have paid due regard to guidance issued by the Charity Comm ssion in deciding what activities the Charity should undertake. Achievements and performance ABC to read is proud to celebrate 20 years of giving approximately 8000 chilc ren a life skill, Being able to read is a fundamental skill that opens door to endless opportunities and enrichec lives in countless ways. We are honoured to have been a part of nurturing these skills in children for the past two decades and we remain committed to empowering future generations through literacy. Thank you t( all our supporters, volunteers and partners who have joined us on this journey to make a difference to the livi is of children through the power of reading. With the pandemic leaving a legacy of issues, ABC to read has never been in more need. Through the dedication of our volunteers and support of our funders this year we have supported mori i children in more schools than ever before with 160 trained and vetted volunteers. This means that approximatel 1500 children are receiving reading support twice a week. We have extended our reach through our Buddy w )rkshop enabling older students to support younger students for whom reading is a challenge. In the last year have delivered workshops to over 200 pupils building school cohesion locally. ABC to read measures the outcome of our reading for 5-11 years old by asking schools and volunteers to comment on the changes observed in the children we support. The results are that 960/0 of children improved in their attitude to reading, 95 % of children improved their reading comprehension and 98°/0 c f children's self-confidence and self -esteem increased. ABC to read will continue to offer reading intervention that boosts reading attai Iment and children's well-being and will continue to grow our volunteer teams to add value to schools. We really value the ongoing support of our corporate and business partner > helping us to make an incredible impact on children across Berkshire. Arlington Business Park, Harvester Mi Insion House, lain Mars from Pixel Cottage, Phyllis Court, Salesforce and ORH Ltd. ASSISTING BERKSHIRE CHILDREN TO READ (CIO) TRUSTEES, REPORT FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 The Trustees would like to thank the following organisations for grants and I lonations made to ABC to read: The Woodward Charitable Trust, The Gerald Palmer Eling Trust, St Laurence ChL rch Charities, Greenham Community Trust, Bracknell Town Council, Slough CVS, Warfield Parish Council, BNI Four Idation, The Prince Phillip Trust Fund, Bauer Media, The Sackler Trust, Bracknell Forest Lions Club, Sobell Foundati, )n, Ammco Charitable Trust, Girdler's Company, Heathrow Community Trust, Gordon Palmer Memorial Trust, Tlie GoslÉng Foundation, The Colefax Charitable Trust, SG Kleinwort Hambros Trust Company, Shinfield ParisF Council, Hudson Charitable Trust, Holybrook Parish Council, Co-op Local Community Fund, Groundwork Te>CO Stronger Starts, Peter Harrison Foundation, The Neighbourly Foundation, Edgar E Lawley Foundation, So iereign Network Group, Wokingham Without Parish Council, Hedley, ORH Ltd, Mobbs Memorial Trust and The Pa Ine-Gallwey Charitable Trust., ASSISTING BERKSHIRE CHILDREN TO READ (CID) TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Financial review The detailed financial position of the Charity is as shown in the Financial Stati %ments. The Trustees consider the finances of the Charity to be satisfactory. The Charity operates two main bank accounts. The Charity current account is with Lloyds and is the main account for the receipt of funds and donations made and can contain funds of both ai i unrestricted and restricted nature. This account is used for the day-to-day running of the charity. The Charity ret 3ins the majority of its reserves in a COIF Charities Fund with CCLA that generates a small amount of interest ea( h month. It is the policy of the Charity that unrestricted funds which have not been des gnated for a specific use should be maintained at a level equivalent to twelve-month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be ab,e to continue the Charity's current activities for a minimum of 12 months while consideration is given to ways in w iich additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed ( Ind are satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management Assisting Berkshire Children to read is a CIO and is governed by a constitutio I dated was adopted on the 27 June 2019 and amended on the 13th August 2019. th The charity is not politically aligned. The Trustees who served during the year and up to the date of signature of t￿ e financial statements were: Mr Paul Dieppe (Chair) Mrs Pauline Harper (Deputy Chair) Mr Stephen Smith (Treasurer) Mr Michael Edwards Mrs Jenny Cooney Mr Adrian Meldrum Mrs Claire Herriott Mrs Nadia Boyes Mrs Hannah McNicholl Mr Kaustav Dey Ms Leorah Stewart The Board of Trustees meet once each school term. Decisions are made on a simple majority basis unless Constitutional or legal requirements mandate a greater majority. All of the Trustees provide their services free of charge. None of the Trustee< had a material interest in any contract of significance to which the Charity was a party during the period. The Trustees, report was approved by the Board of Trustees. Mrs Hannah McNicholl Chair of Trustees Dated: ASSISTING BERKSHIRE CHILDREN TO READ (CIO) TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Mrs Hannah McNicholl Chair of Trustees Dated: ASSISTING BERKSHIRE CHILDREN TO READ (CII)) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASSISTING BERKSHIRE CHILDREN TO READ (CIO) I r@port to tho Truotoog on my @xamin2tion of tho financial gt2t@mento of Agg, gting PÉrkghiro ChildrÈn to road (the Charity) for the period between 1 st April 2023 and 316t March 2024. 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 (the 2011 Act). I report in respect of my examination of the Charity's financial statements cari led out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordar ce 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 Apn12005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reportin J periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to m5 attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements =oncerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations ' 1008 other than any requirement that the accounts give a true and fair view which is not a matter consi( lered as part of an independent examination. I have no concems and have come across no other matters in connectior with the examination to which attention should be drawn in this report in order to enable a proper understand Ing of the financial statements to be reached. CFLim 20 Woo Road Caversham Reading RG4 6NA te Dated: ASSISTING BERKSHIRE CHILDREN TO READ (CIO) STATEMENT OF FINANCIAL ACTIVITIES, INCLUDING INC OME AND EXPENDITURE ACCOUNT FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Unrestricted F;estricted funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Donations and similar income Restricted grants Other grants Interest received from COIF Charity Fund 50,705 50,705 22,044 35,718 7,286 66,696 42,077 20,000 2,582 22,044 35,718 7,286 Total incoming resources 93,708 22,044 115,752 131,355 Resources Ex ended: Cost of purchase of tangible assets Governance costs 2,300 2,300 3,531 1,662 3,268 3,531 Total 3,531 2,300 5,831 4,930 Net incoming resources available for charitable application 90,177 19,744 109,921 126,425 Charitable Expenditure Volunteers, expenses including training, recruitment & books Running Costs Managing and administering the charity Total Charitable Expenditure 28,696 28,696 4,769 100,251 133,716 40,467 2,584 70,360 113,411 4,769 100,251 105,020 28,696 Total resources expended 108,550 30,996 139,247 118,341 Net movement in funds for period (14,842) (4,353) (19,195) 15,526 Fund balances at 01 April 2023 155,687 9,225 164,912 149,386 Fund balances at 31 March 2024 140,845 9,225 145,717 164,912 The statement of financial activities includes all gains and losses recognised li ) the year. All income and expenditure derive from continuing activities. ASSISTING BERKSHIRE CHILDREN TO READ (C;10) ALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tanaible assets Current assets Debtors and DreDavments Cash at bank and in hand 5.450 4.513 1.065 146.361 840 163.323 10 Total 147.426 164.163 Creditors: amounts falling due within one vear 11 7,159 3,764 Net current assets 140.267 160.399 Total assets less current liabilities '145.717 164.912 Income funds Unrestricted funds Restricted funds ' 40.845 4.872 155.687 9.225 145.717 164.912 The financial statements were aDDroved bv the Trustees on 1 Oth June 2024 li Mrs Hannah McNicholl Chair of Trustees ASSISTING BERKSHIRE CHILDREN TO READ (C O) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Accounting poliGies Charity information Assisting Berkshire Children to read is a CIO governed by a constitutior adopted on the 27th June 2019 and th amended on the 13 August 2019. 1.1 Accounting convention The financial statements have been prepared in accordance with the I;harity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recom nended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Star dard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for chai ities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts ' Ind Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure ht convention, modified to include the revaluation of freehold properties and to include investment properties and certain finanGial instruments at fair value. The principal accounting policres adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a r Jasonable expectation that the Charity has adequate resources to continue in operational existence for the f )reseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing thi i financial statements. 1.3 Charitable funds Unrestricted funds are avarlable for use at the discretion of the Trus ees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial state nents. Endowment funds are subject to specific conditions by donors that the cai >ital must be maintained by the Charity. 1.4 Incoming resources Income is recognised when the Charity is legally entitled to it after any Pi irformance conditions have been met, the amounts can be measured reliably, and it is probable that income wi I be received. Cash donations are recognised on receipt. Other donations are recogni< ed once the Charity has been notified of the donation unless performance conditions require deferral of the amc unt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. ASSISTING BERKSHIRE CHILDREN TO READ (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Accounting policies (Cont.) Legacies are recognised on receipt or otherwise if the Charity has been iotified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of busin ass, net of discounts, VAT and other sales related taxes. 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligati, )n to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be requ red in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are mac e up of the total of direct costs and shared costs, including support costs involved in undertaking each activit i. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contr bute to more than one activity and support costs which are not attributable to a single activity are apporti )ned between those activities on a basis consistent with the use of resources. Cost of generating funds are costs incurred in attracting voluntary inc Dme, and those incurred in trading activities that raise funds. Support costs are those costs incurred directly in support of expenditurE on the objects of the charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently n easured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of ac sets less their residual values over their useful lives on the following bases: Furniture and fittings - 20 % per annum The gain or loss arising on the disposal of an asset is determined as the di Fference between the sale proceeds and the carrying value of the asset and is recognised in net income/(exp snditure) for the year. 1.7 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an imp, airment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detE rmine the extent of the impairment loss (if any). Intangible assets with indefinite useful lives and intangible assets not ) et available for use are tested for impairment annually, and whenever there is an indication that the asset r iay be impaired. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call Nith banks, other short-term liquid investments with original maturities of three months or less, and bank Ovf rdrafts. Bank overdrafts are shown within borrowings in current liabilities. ASSISTING BERKSHIRE CHILDREN TO READ (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Aeeounting policies (Cont.) 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 carrit:d at amortised cost using the effective interest method unless the arrangement constitutes a financing tiansaction, where the transaction is measured at the present value of the future receipts discounted at a m arket 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 -ecognised at transaction price unless the arrangement constitutes a financing transaction, where the debt li )strument is measured at the present value of the future payments discounted at a market rate of interest. Fi iancial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using thf effective interest rate method. Trade creditors are obligations to pay for goods or services that have b.en acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current labilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Tra( le creditors are recognised initially at transaction price and subsequently measured at amortised cost using he effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual o )ligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustee:, are required to make judgements, estimates and assumptions about the carrying amount of assets and labilities that are not readily apparent from other sources. The estimates and associated assumptions are ba >ed on historical experience and other factors that are considered to be relevant. Actual results may differ fror I these estimates. The estimates and underlying assumptions are reviewed on an on( oing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revise J where the revision affects only that period, or in the period of the revision and future periods where the rE vision affects both current and future periods. -12- ASSISTING BERKSHIRE CHILDREN TO READ (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Donationg and similar income 2024 2023 School contributions Sundry donations 4),791 3,914 37,227 29,469 Total 5),705 66,696 Restricted Grants Grantor Purpose Balance blf 563 Amount Added 750 Amount Expended 1,313 Balance clf Heathrow Community Trust Reading Small Grants Fund Crowthorne Parish Council Heathrow Community Trust The Edmund Godson Charity Crowthorne Trust Blevins Frank Foundation University of Reading University of Reading Greenham Community Trust Bracknell Town Council Warfield Parish Council The Prince Phillip Trust Local Giving- Magic Little Grants Girdlers Company Slough CVS Recruitment of volunteers Training of volunteers 2,000 2,000 Recruitment of volunteers in Crowthorne Recruitment of volunteers in Slough, Windsor and Maidenhead Training of volunteers 500 500 2,250 2,250 1,000 1,000 Supporting children in the local parish Cost of laptops 500 850 500 850 Wages for intern - Leorah Stewart 1,563 1,563 Wages for intern - Leorah Stewart 139 139 Support children falling behind with literacy in West Berks Recruitment of volunteers from Bracknell area To support schools in Warfield To recruit volunteers from RBWM Books and games 3,000 3,000 1,000 1,000 500 500 1,500 1,500 500 500 Recruit and train 5 volunteers Recruitment of volunteers from Slough Training 5 volunteers 3,500 750 3,500 750 The Gordon Palmer Memorial Trust Shinfield Parish Council Holybrook Parish Council Groundwork Tesco Stronger Starts Peter Harrison Foundation Sovereign Network Group University of Reading 800 800 To support schools in Shinfield Parish Purchase of resources 700 700 300 300 Helping children catch up Recruitment of 5 volunteers 500 500 1,500 1,500 Activities to promote better mental health Wages for intern - Jade Beasley (intern) 1,000 1,000 1,459 490 969 13- ASSISTING BERKSHIRE CHILDREN TO READ (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Wokingh2m P2righ Council Mobbs Memorial Trust University of Reading Heathrow Community Trust Helping children in Wokingham 500 500 Cost of two laptops 2,000 2,000 Wages for intern - Jade Beasley (intern) Recruitment of volunteers in Slough and RBWM 1,459 354 1,105 188 188 Totals 9,226 22,044 28,696 2,574 Other grants Total 2024 Total 2023 The Woodward Charitable Trust Gerald Palmer Eling Trust BNI Foundation UK Bauer Media- cash for kids The Sackler Trust The Sobell Foundation The Gosling Foundation The Colefax Charitable Trust SG Kleinwort Hambros Trust Company Co-op Local Community Fund The Neighbourly Foundation Edgar E Lawley Foundation Hedley Grant The Payne-Gallwey Charitable Trust Total 1,000 3,000 1,000 1,500 5,000 5,000 5,000 2,000 3,000 2,218 1,000 2,000 1,500 2,500 35,718 20,000 Running costs Rent Depreciation of fixed assets Total 3,406 1,363 4,769 1,456 1,128 2,584 Management and administrative expenses Printing, postage, stationery & telephone Staff salaries Sundry expenses Total 1,719 94,739 3,792 100,251 2,596 66,749 1,106 70,360 Tangible fixed assets Cost At 1" April 2023 Additions during the period Total 2024 2023 14,497 2,300 16,797 12,836 1,662 14,497 14- ASSISTING BERKSHIRE CHILDREN TO READ (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Depreciation At 1" April 2023 Charge for the period Total Net book value At 31 March 2024 9,984 1,363 11,347 8,856 1,128 9,984 5,450 4,513 Debtors and prepayments Insurance School debtors Other Total 296 560 209 1,065 268 512 60 840 10 Cash at hand and in bank Lloyds current account COIF Charity Trust Fund Cash float Total 9,882 136,406 73 146,361 29,130 134,120 73 163,323 11 Creditors: Amounts falling within 3 months Accountancy Telephone accruals Other accrued expenses Total 2,620 170 4,369 7,159 2,150 208 1,406 3,764 12 Trustees None of the Trustees (or any persons connected with them) received i Iny remuneration or benefits from the Charity during the year. 13 Employees The charity employed an average of nine staff during the year. 15 Retirement benefit schemes The Charity operates a defined contribution pension scheme for all qui Ilifying employees. The assets of the scheme are held separately from those of the Charity in an independentl i administered fund. 16 Related party transactions There were no disclosable related paty transactions during period. 15-