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2023-03-31-accounts

Charity no. 1190848

United Kingdom Literacy Association Report and Unaudited Financial Statements

31 March 2023

United Kingdom Literacy Association

Reference and administrative details

Reference and administrative details Reference and administrative details
For theyear ended 31 March 2023
Charity number 1190848
Registered office and c/o Voluntary Action Leicestershire
operational address 9 Newarke Street
Leicester
LE1 5SN
Trustees Dr Roger Duncan McDonald Christine Mary Lockwood
Dr Navan Nadrajan Govender Prof Catherine Mary Burnett
Prof Candice Satchwell Tracy Karyn Parvin
Mx B Guerriero Dr Clare Adele Dowdall
Dr Lucy Jane Rodriguez Leon Joy Elizabeth Court
Dr Karen Dianne Daniels Lynda Jennifer Graham MA
Prof Debra Ann Myhill David Glyn Reedy
Jo Tregenza
Janet Olive Alexandra Douglas Gardner MA
Margaret Elizabeth Broad
Prof Teresa Mary Cremin
Director Graham Birrell
Bankers CAF Bank Teachers Building Society
25 Kings Hill Avenue Allenview House
Kings Hill Hanham Road
West Malling Wimborne
Kent Dorset
ME194JQ BH21 1AG
Charity Bank
Fosse House
182 High Street
Tonbridge
TN9 1BE
Independent examiners Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Objectives and activities

The United Kingdom Literacy Association (UKLA) is the UK’s leading association dedicated to literacy in education and brings together teachers, teacher educators, researchers and many others working in literacy education for all ages. The sole object of the United Kingdom Literacy Association is to advance education in literacy, and its principal activity during the year has been to encourage progress in language and literacy at all levels.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Association's activities fall into three main areas:

How our activities deliver public benefit

The sole objective of UKLA is the advancement of education in literacy. It achieves this by:

Impact: UKLA’s performance and achievements throughout 2022 – 2023

During the 2022 – 2023 financial year, UKLA resumed some face-to-face activity whilst also continuing to use virtual meetings and events to exchange ideas, disseminate research, debate possibilities, and share expertise to advocate for a fulfilling and empowering approach to literacy education. The following report offers a summary of UKLA’s activities and achievements.

UKLA Publications: journals, books and web resources

UKLA’s publications play a key role in supporting members in schools, universities and other educational settings through disseminating research findings as well as practical, principled approaches for use in teaching at all levels.

2

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

Conferences

UKLA’s highly regarded conferences play a key part in bringing members and non-members together, facilitating networking as well as promoting the dissemination of cutting-edge research and offering more practical workshops.

Supporting and disseminating research

UKLA has a robust and vibrant research profile. In furtherance of its core aim to advance education in literacy, UKLA seeks to inform educational professionals and policymakers at all levels by supporting and disseminating cutting edge research. UKLA’s stringent criteria ensure that only research of high quality is promoted. Activities include:

The UKLA awards programme

The UKLA awards programme showcases the work of schools and individual teachers whose practice inspires others, celebrates high quality books for both young people and educational professionals, and honours outstanding research papers. In 2022, the association’s annual awards included;

3

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

UKLA Special Interest Groups

During 2022 - 2023, seven Special Interest Groups (SIGs) allowed members who share enthusiasm for a specific topic to network with others in the UK and across the globe. SIGs are unfunded yet bring together a wide range of practitioners and academics in ways that foster collaboration, innovation and which may lead to research. UKLA SIGs comprise:

6. Teachers’ Reading Groups (TRGs)

UKLA and the Open University continue their partnership aiming to build communities of readers, drawing on the OU/UKLA Teachers as Readers research. These groups provide free evidencebased CPD for school-based educators, in ways that will enrich their understanding of children’s reading for pleasure (RfP) and their knowledge about how to support it. During 2022– 2023 there were over 100 virtual teachers’ reading groups across the UK and beyond offering CPD online and in person.

7. The UKLA/OU Quality Mark

The new ‘quality mark’ recognises and rewards schools which have developed, embedded and enriched their Reading for Pleasure culture and ethos, with recognisable impact on staff knowledge and practice, and on young people’s recreational reading. During 2022–23, the scheme was successfully piloted and will be open to applications from schools in 2023-24.

8. Regional Representative

UKLA’s Regional Representatives continue their invaluable work as key members of UKLA, raising its profile and attracting new members in all countries of the UK.

During 2022 – 2023 Regional Reps have continued to host #UKLAchats on Twitter; the engagement and response levels are growing and successfully attract a wide range of audiences each month, with accompanying ‘Padlets’ to facilitate further online discussion. Many regional reps have worked to keep engagement levels high among their members through regular newsletters and blogs.

4

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

9. International links

UKLA continues its focus on building connections with literacy colleagues across the globe.

UKLA continues to be strongly represented at Federation of European Literacy Associations meetings in Europe, which provide opportunities to discuss research and policy with international colleagues. The work of the Association is also promoted through the International Ambassador Scheme now includes representatives from the USA, Australia, New Zealand, Canada, Brunei, Ireland, Slovenia, and Iceland.

The International Sub-Committee is responsible for Project Connect, which supports two literacy charities: the Donkey Library in Ethiopia and the Children’s Book Project in Zanzibar. Fundraising took place during the International Conference, raising £763.

10. Providing an informed national voice

UKLA continues to work energetically to influence UK education policy on behalf of its members, welcomes participation in government consultations on literacy education policy and endeavours to support teachers in implementing policy requirements.

UKLA is represented on a number of expert groups and maintains close links with other subject associations. Collegiate relationships with academic institutions are also important and have led to some partnership working, including the Teachers’ Reading Groups with the Open University.

11. Financial Review

As summarised in the preceding section, during 2022 – 2023 UKLA has continued to undertake a wide range of activities to further its objective of advancing education in literacy; these activities are facilitated by the outcomes of financial decisions made by trustees.

Income summary

UKLA’s total income for the year was £191,702.

The royalties made by the UKLA journals exceeded projections, generating income of £64,819. The publishers indicate that the increase is largely due to favourable exchange rates. Income from membership subscriptions was similar to previous years, at £42,761, with Gift Aid generating a further £5,636. Sponsorship income for the book awards generated £9,500 and £4,860 for the international conference, a combined sponsorship income of £14,360. The sale of UKLA publications (Books and eBooks) generated £6,342.

Expenditure summary

UKLA’s total expenditure for 2022-2023 was £182,201.

This includes journal and magazine production costs of £17,384, staffing costs (including contractedin bookkeeping support) of £59,638, and office accommodation of £6,075. Research grants and the awards programme incurred total expenditure of £26,086.

During 2022-2023, UKLA reduced its budgeted expenditure through retaining a policy of online committee meetings.

5

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

Reserves

The association’s total funds at 31 March 2023 were £298,310. Of this, £297,268 is unrestricted and £1,042 is restricted, and hence ring-fenced for use in supporting Project Connect literacy-promoting activities.

The trustees have established a policy whereby the charity's free reserves (defined as unrestricted funds, excluding designated funds and amounts held in fixed assets) should be equivalent to total annual expenditure excluding conference costs, grants and awards. At current levels, this is calculated to be £103,404. The trustees feel that this provides sufficient protection against future fluctuations in income and costs. This level of free reserves would also allow the charity to be wound up in a controlled way should the need arise. This is not expected to happen in the foreseeable future, however the trustees consider this to be prudent. At 31 March 2023, free reserves were £289,304 and were therefore in excess of the reserves target. However the trustees have approved a deficit budget in 2023-24 which more closely align the free reserves with the reserves policy.

12. Governance:

The Trustees of the Association consider the overall performance of the charity for the year 2022/23 to be satisfactory and take the view that the Charity's activities continue to represent excellent value for money.

Looking Ahead

Looking forward to the year ahead, UKLA projected journal royalties is expected to be approximately £50,000 (despite 2022-2023 better-than-expected royalties, largely due to favourable exchange rates). The trustees have agreed a deficit budget for the 2023-2024 financial year, drawing on reserves to ensure UKLA activities continue, and the organisation continues to provide an informed and influential voice in literacy education. Progress with the OU / UKLA quality mark is expected to increase membership and generate some new income. In addition, the work of the SIGs and the continuing popularity of the Awards Programme will continue to attract members to the Association. There will be a campaign to promote membership and discussions have been held with Wiley to agree ways to increase subscriptions to the UKLA journals. Bookings for the 2023 UKLA International Conference are encouraging, and a small surplus is predicted. However, ways of balancing the budget will be a key focus for the F&GP subcommittee during 2023-2024.

In summary, UKLA remains in a strong position to inform the debate and continues to play an important part in multi-partner initiatives set up to influence education policy as well as practice.

Risk

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation and finance of the charity and are satisfied that systems are in place to mitigate exposure to the major risks of normal times. Financial monitoring will enable the trustees to review UKLA’s finances throughout 2022/23.

No government grants have been applied for.

6

United Kingdom Literacy Association

Report of the trustees

For the year ended 31 March 2023

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 24 June 2023 and signed on their behalf by

Roger McDonald

Dr Roger Duncan McDonald - UKLA President

7

Independent examiner's report

To the trustees of

United Kingdom Literacy Association

I report to the trustees on my examination of the accounts of United Kingdom Literacy Association (the CIO) for the year ended 31 March 2023, which are set out on pages 9 to 22.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Godfrey Wilson Limited also provides payroll services to the CIO. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 accounts to be reached.

Alison Godfrey

Date: 26 June 2023 Alison Godfrey FCA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

8

United Kingdom Literacy Association

Statement of financial activities

For the year ended 31 March 2023

For the year ended 31 March 2023
Restricted Unrestricted
Note
£
£
Income from:
Donations
3
1,314
-
Charitable activities
4
-
188,907
Investments
-
1,481
Total income
1,314
190,388
Expenditure on:
Charitable activities
500
181,701
Total expenditure
6
500
181,701
Net movement in funds
7
814
8,687
Reconciliation of funds:
Total funds brought forward
228
288,581
Total funds carried forward
1,042
297,268		 2023
Total
£
1,314
188,907
1,481
191,702
182,201
182,201
9,501
288,809
298,310		 2022
Total
£
285,579
92,402
12
377,993
89,184
89,184
288,809
-
288,809

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the accounts.

9

United Kingdom Literacy Association

Balance sheet

As at 31 March 2023

Note
Fixed assets
Tangible assets
10
Intangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
14
Net current assets
Net assets
16
Funds
17
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
9,869
80,710
228,885
319,464
29,118		 2023
£
1,606
6,358
7,964
290,346
298,310
1,042
-
297,268
298,310		 2022
£
3,213
-
3,213
13,991
63,599
233,505
311,095
25,499
285,596
288,809
228
142,213
146,368
288,809

Approved by the trustees on 24 June 2023 and signed on their behalf by

Roger McDonald

Dr Roger Duncan McDonald - UKLA President

10

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

United Kingdom Literacy Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of provision of conferences, events or memberships is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

11

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. Support and governance costs have been allocated to charitable activities in full as the charity does not carry out any fundraising activities.

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office Equipment

3 years straight line

i) Intangible fixed assets

Amortisation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The amortisation rate in use are as follows:

Intangible assets 3 years straight line

j) Stock

Stock is included at the lower of cost or net realisable value.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

12

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

n) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

o) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

p) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation and amortisation as described in note h and i above.

13

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Income from donations
Donations
Prior period comparative:
Donations		 Restricted
£
£
108
285,471
120
92,282
-
12
228
377,765
-
89,184
-
89,184
228
288,581
Restricted
£
£
1,314
-
Restricted
£
£
108
285,471
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
285,579
92,402
12
377,993
89,184
89,184
288,809
2023
Total
£
1,314
2022
Total
£
285,579

3. Income from donations

In 2021-22, United Kingdom Literacy Association (charity number 313714) donated net assets at a value of £285,579 to the newly established CIO, United Kingdom Literacy Association (charity number 1190848).

14

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

4. Income from charitable activities

Conferences
Awards
Publications
Training
Subscriptions
Total income from charitable activities
Prior period comparative:
Conferences
Publications
Training
Subscriptions
Total income from charitable activities		 Restricted Unrestricted
£
£
-
59,825
-
9,500
-
71,035
-
150
-
48,397
-
188,907
Restricted Unrestricted
£
£
-
3,115
-
57,686
-
1,800
120
29,681
120
92,282		 2023
Total
£
59,825
9,500
71,035
150
48,397
188,907
2022
Total
£
3,115
57,686
1,800
29,801
92,402

5. Government grants

The charity does not receive any government grants.

15

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

6. Total expenditure

£
£
11,655
47,983
-
12,953
-
1,157
-
2,917
-
6,960
-
1,607
9,273
-
16,813
-
18,172
-
52,711
-
108,624
73,577
73,577
(73,577)
182,201
-
Total governance costs were £3,197 (2022: £2,440)
Grants and awards are paid to individuals in line with the charity's objects.
Prior year comparative
£
£
-
36,972
-
9,564
-
940
-
1,179
-
14,282
-
1,606
2,629
-
11,840
-
6,805
-
3,367
-
24,641
64,543
64,543
(64,543)
89,184
-
Sub-total
Total expenditure
Allocation of support and governance costs
Charitable
activities
Depreciation
Grants
Awards
Publishing expenses
Conference expenses
Staff costs (note 8)
Office and website costs
Committee expenses
Bank charges
IE and accountancy fees
Support and
governance
Charitable
activities
Support and
governance
Depreciation
Grants
Publishing expenses
Conference expenses
Staff costs (note 8)
Office and website costs
Committee expenses
Bank charges
IE and accountancy fees
Sub-total
Allocation of support and governance costs
Total expenditure
Subscriptions expenses		 £
59,638
12,953
1,157
2,917
6,960
1,607
9,273
16,813
18,172
52,711
2023
Total
182,201
-
182,201
£
36,972
9,564
940
1,179
14,282
1,606
2,629
11,840
6,805
3,367
2022
Total
89,184
-
89,184

16

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

7. Net movement in funds

This is stated after charging:

Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
Independent examination (including VAT)
Payroll		 2023
£
1,607
Nil
606
2,040
65		 2022
£
1,606
Nil
1,378
6,622
7,660

Trustees' reimbursed expenses were composed of travel and accomodation expenses for 11 trustees in the year (2022: 6 trustees).

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2023
£
57,753
36
1,849
59,638		 2022
£
35,657
-
1,315
36,972

No employee earned more than £60,000 during the year.

The key management personnel of the charity comprise the trustees and the Director. The total employee benefits of the key management personnel were £34,636 (2022: £27,812).

Average head count 2023
No.
3.42		 2022
No.
3.00

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

17

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

10. Tangible fixed assets

**10. ** Tangible fixed assets
Office equipment
£
Cost
At 1 April 2022 4,819
Additions in year -
At 31 March 2023 4,819
Depreciation
At 1 April 2022 1,606
Charge for the year 1,607
At 31 March 2023 3,213
Net book value
At 31 March 2023 1,606
At 31 March 2022 3,213
**11. ** Intangible fixed assets
Software
£
Cost
At 1 April 2022 -
Additions in year 6,358
At 31 March 2023 6,358
Amortisation
At 1 April 2022 -
Charge for the year -
At 31 March 2023 -
Net book value
At 31 March 2023 6,358
At 31 March 2022 -

18

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

12. Stock
Books and publications
13. Debtors
Trade debtors
Gift Aid receivable
Other debtors
Prepayments
14. Creditors : amounts due within 1 year
Trade creditors
Other taxation and social security
Accruals
Deferred income
15. Deferred income
At 1 April 2022
Deferred during the year
Released during the year
At 31 March 2023		 2023
£
9,869
2023
£
1,536
11,232
64,781
3,161
80,710
2023
£
3,199
1,756
2,656
21,507
29,118
2023
£
17,068
21,507
(17,068)
21,507		 2022
£
13,991
2022
£
5,170
-
58,429
-
63,599
2022
£
1,058
-
7,373
17,068
25,499
2022
£
-
17,068
-
17,068

Deferred income relates to advance ticket sales, sponsorship income and membership subscriptions.

19

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

16. Analysis of net assets between funds

Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2023
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2022		 Restricted
funds
£
-
-
1,042
-
1,042
Restricted
funds
£
-
1,314
-
1,314		 £
-
-
-
-
-
£
-
-
-
-
Designated
funds
Designated
funds		 General
funds
£
1,606
6,358
318,422
(29,118)
297,268
General
funds
£
3,213
309,781
(25,499)
287,495		 Total funds
£
1,606
6,358
319,464
(29,118)
298,310
Total
funds
£
3,213
311,095
(25,499)
288,809

20

United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

17. Movements in funds

Restricted funds
Project connect
Total restricted funds
Designated funds:
Closure costs
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1 April
2022
£
228
228
142,213
142,213
146,368
288,581
288,809		 Income
£
1,314
1,314
-
-
190,388
190,388
191,702		 Expenditure
£
(500)
(500)
-
-
(181,701)
(181,701)
(182,201)		 Transfers
between
funds
£
-
-
(142,213)
(142,213)
142,213
-
-		 At 31
March 2023
£
1,042
1,042
-
-
297,268
297,268
298,310

Purposes of restricted funds Project connect

Project connect supports two literacy charities: the Donkey Library in Ethiopia and the Children's Book Project in Zanzibar. The aim of the project is to help spread an engaged committed and critical literacy in the developing world.

Purposes of designated funds Closure costs

The purpose of the designated fund was to enable the trustees to guard against the event of the charity being wound up. The reserves policy has been updated during the year and these funds have now been released to general funds.

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United Kingdom Literacy Association

Notes to the financial statements

For the year ended 31 March 2023

17. Movements in funds (continued)
Prior year comparative
At 1 April
2021
£
Restricted funds
Project connect
-
Total restricted funds
-
Designated funds:
Closure costs
-
-
General funds
-
Total unrestricted funds
-
Total funds
-
Unrestricted funds
Total designated funds		 Income
£
228
228
-
-
377,765
377,765
377,993		 £
-
-
-
-
(89,184)
(89,184)
(89,184)
Expenditure		 £
-
-
142,213
142,213
(142,213)
-
-
Transfers
between
funds		 £
228
At 31 March
2022
228
142,213
142,213
146,368
288,581
288,809

18. Related party transactions

There were no related party transactions in the current period. In the prior year there were two related party transactions:

£7,660 was paid to Miss G Officer for bookkeeping services. Miss G Officer is the sister of Dr D Challen, who was a trustee of UKLA until 23 June 2021.

One trustee received an honorarium payment of £250.

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