Charty registralion number. 1196686
Exeter City of Literature
Annual Report and Finandal Stslements
for the Year Ended 31 March 2024
WESTCOTTS
CHARTEREO ACCOUIITAMTS
6 BilSIt41SS ADVIS•IS

Exeter City of Lltorature
Contents {contlnued)
Reference and Admlnlstratlve Detalls
Trustees. Rek
2to7
Independent Examinerfs Report
statement of Flnendal Athities
Balance Sheet
10
Notes to the Financlal SL*ements
11to19

Exeter City of Literaturo
Reference and Admlnlstrative Detalls
Trustees:
DrAAWatt
M Argyle
M Richards Ireslgned 31 October 2023)
L Wright {resigned 23 May 2024}
S Pavelle
D Row&tt
S Hashemy, (Chalrl lappointed 16 April 20241
E Jlkiern￿PearS0n lappointed 16 Aprll 2024}
H Miller {appointed 16 April 2024}
T Staniford (appointed 16 Aprfl 2024)
Charity Reglstratlon Number
1196686
Princlpal Office
Exeter Phoenlx
Bradninch Pla
Gandy Street
Exeter
Devon
EX4 3LS
Independent Examlner
Weslcotts (SWI LLP
47 Boutport street
Barnstaple
Devon
EX31 1SQ
Page 1

Exeter City of Literature
Trustees. Report
The trustees present the annual report logeth&r with the financial statements of the charity for the year
ended 31 March 2024.
structuro, Governance, and Management
Recruitment and Appointment of Trustees
The trustees who served during the period are listed In Ihis document. TTUStees are appointed by a
resoludon passed 8t a propedy convened meeting of the charity trustees. The Board shall consist of at
least three charity Iruslees. There is currently no maximum of trusloes that may be appolnted lo the
cio.
Induction and Training of Tru_stees
In s&lectlng individuals for appolntment as Charity trustees, the trustees must have regard lo Ihe skills.
knowledgg, and experlence needed for the effectlve administration of the CIO. Before their first
appointment. new trustees receive a copy of the current version of the CIO'S Cons￿lution and a copy
of the CIO'S latest Annual Report and statement of accounts.
Org8nis8tional S_tructur8
The charity trustees manage the affairs of the CIO and exercise all powers of the CIO. There are
Uffenlly eight trustees who meet quarterly at formal board meeting5. Between forrnal meetings, the
board will discuss any relevant matters as and when they arise. The trustees delegate the day-to-day
management lo the Executlve Director. During the perfod. there have been no material changes In the
policies pursued by the Board.
Objectives and Activitles
The CIO has been establlshed for the public benefit for the followlng purposes-
A. The advancement of educatlon and the arts, by providing or asslsling in the provlslon of
opportunities to dlscover, access. engage in, leam obout. understand and enjoy literature. wrltlng.
creativity. culture and heritage,. and
B. Such other charitable purposes that benefit the public c<Jnsistent wlth the objecl above as the
charity trustees shall delerrnine.
In support of our oblecuves, it is envlsaged the charity will WO￿ with our partners across Exeter.
Devon, and the UNESCO City of LlteratsJr8 Netr￿￿( to:
Improved cvllural and creatlve well-being.
B. Increased literary engagement and involvement and a greater love of reading and storyte115ng
C. Greater awareness of the soclal and economic value of literature.
D. Increased recognition for Exeter and wider Devon as a destination for literary tourism.
E. Increased quality, quantity, and diversity of stories and storytelling.
F. More equitable and inclusive literary offer for a wder array of diverse audiences.
Page 2

Exeter City of Literature
Trustees. Report {continued)
Flnanclal Revlew
Resetves Policy
The Trustees have set a reserves policy so that they can comply with their le9al dutles lo protect and
safeguard the 8ssets of the charity. The charity wll hold deslgnaled funds, or unrestrfcted reserves,
for the following purposes-
To allow the Trustees to prepare for an unexpected drop in Income or other change of
circumstances in 8 vol8tile envbronment. Thls wlll be a sum not 18SS than three months. operating
costs and will allow the charity to respond lo sudden change and manage the impact In an ordedy
manner.
To set aslde funds for the charl￿S employrnent commitments. Thi¥ will be the sum relallng to the
Executive Team's contracts.
Executlve Dlrectorfs Report
Our Vision and Values
OLJr vision Is for everyone to love stortes and storytelllng. Our mission is to work with our local and
global communltSes to celebrate the dlverse slorles wlthin.
Exeter City of Literafvre staff. Trustees, Partnership Netsvork members. and Gollaboralve partners
Tre21811 Individu81s and groups with dlgnity, respect. falrness, and compasslon so that we create an
envlronmenl that Is welcoming lo all.
Strive for exGellenGe in all that we do, pushing boundarles and reimagining realitles wherever
possible.
Champlon 8 literary culture and th6 literary arts in and around Exeter, expecting the highest qual
and Innovative imagination in our programmlng. prolects. and fundlng support.
Uphold values that oppose racism, sexlsm. classism, homoKthobia. transphobia. xenophobia,
ablelsm. ageism, religious preludlce, and other covert and overt forms of discrimination and bias.
Recognize that words and actlons matter and understand that the absence of words and actions
also matter. Impad is just as cruclal as int8nl.
. Appreciate thal becoming tsuly inclusive and respectful is a continuous process and that we all act In
imperfect Ways sometimes. Remain self-aware of our own limilatioDS and flaws, recogntzing when we
are not at our best and communicating openly to resolve problems.
Ensure the experlences. values, and neèds of under-representod. mIno￿ty, andlor oppressed
groups are represented and increased in wllcy. programs, practices, sponsorship, and leadership.
Page 3

Exeter City of Literature
Trustees. Report (contlnugd)
OurAlms
Our strategic aims set out tt)e key things we want to achlev8 in support of our obj8ctfves. W8 aim to:
1. Develop an ongoing program of literary-based projects, events, and Inltlatives thBt stlmulate cultural
well-belng and contTibute to the Ilterary ecology of Devon.
2. Grow. expand, and fvrther devalop the Exeter City of Llterature Partnership Network. sharing and
making best us8 of the valuable Ilterary resources and heritage assets we collectively hold.
3. Deliver an Inclusive talent development program thet 5UPP)rts and encourages literaGy and literary
engagement.
4. Establish a vibrant Centre. or Centr85 (county-wide 'hubs'. including digital hubs), for story-maklng
and storyielling.
Program of Actlvlty and Key Achlevements
2023-2024 was Exeter City of Literature's first year as an Arts CouncAI NPO and the second fijll year
of operation as a registered charity, which was constituted in November 2021. The charfty supports
the literary and cultural sectors and develops resources for high-qualrty literary actlvity across Exeter
and Devon with a variety of partners. Sinee 2021. the organisation has established a number of
long-temi programs that deliver impact across our three strateglc pi118rs'. Place-shaping, Well-being,
and Talent Development.
8elween April 2023-March 2024. the programs and projects that fell under these categories Included
the Llterary Map of Exeter and Devon, the unveiling of literary artwork al Exeter St. David's, Clty
Reads. The Book Market, Introduction to Bibliolherapy Skills at Exeter College, Blbliotherapy in the
Community, the Book Nooks In Wam Spaces campaign, Slamovision. Translating Cultures, and the
Exeler-Barcelona UNESCO Wrlter Residency. Our key programs and the objeclives and aims they
correspond with are listed below along with the achievements delivered during this time perS0d.
The chartty dellvered many other initi8tlves across Exeter and Devon and with intemalional partners
to further the charitable aims and lo dellver on the vision for Exeter City of Llteralure. In 2024. the
charfty submitted its MembershSp Monilorfng Report to UNESCO, which demonstrated the collecti
Impact of the designation on the city b8tyveen 2019-2024.
Introduction to Bibliotherapy Skills
Objectlve: Improve cultuml and creative well-being., Increase literary engagement and Involvemenl,
and a greater lovè of readlng and storyielling- Provlde a more equitable and incluslve literary offer for
a wider array of dlvars8 audlences.
Aim: Develop an ongoing program of liter8ry-based prolects. events, and initlatlves that 5timulales
cultural well-being and contributes to the literary ecology of Devon- Deliver an inclusive talent
development program that supports and encourages Ilteracy and literary engag8menl.
Achievements: Thirty-IhrBe students completed the Course. L8adership from Exeter Clty of Literature
and Exeter College developed the course further in preparation for accreditation from th8 N81ional
Counselling and Psychotherapy Sctiety.
Page 4

Exeter City of Literature
Trustees, Report (continued)
The Book Market.. July 2023
Objective: Increase literary engagement and involvement, and a greater love of reading and
storytelling. Increase greater awareness of the social and economlc value of Illerdture.. Provide a mo
equitsble and inclusive literary offer for 8 widw aNay of diverse audlences.
Alm: Develop an ongoing program of Ilterary-based projects, events, and inillatlves that stimulate
cultural well-being and contribute lo the1Sterary ecology of Devon.
Achievements: This was our first year holdlng The Book Market on the Cathedral Green, whlch led to
larger number of attendees lover 1.000 within five hours), 12 Sndependent bookshops from across
South Devon. and new food and drink vendors. Al vendors reported a profit and feedback from the
publlc was very posltive.
Liler8wM8p of Exeter and Devon
ObleGtlve: Increased literary engagement and Involvement and a greater love of reading and
storytelling. Increased recognition for Exeter and wider Devon as a destlnallon for literary tourism.
Alm: Develop an ongoing pr￿raM of literary-based projects. events, and initiatlves that stimulate
cultural well-being and contribute to the literary ecology of Devon., Dellver an Inclusive talent
development program th8t supports and encourages Ilteracy and literary engagement.
Achlevomonts: We hired a local graphic designer to create the map who found such personal and
profession81 success from the project that she has since been hired to create other maps for parts of
Devon. The first prlnt run of 10,000 was disthbuted Incredibly quickly and was requested as far and
wide as Canada and India. Visit Exeter then came on board in 2024 to contribute to an updated
verslon lo celebrate Exeter's fifth year as a UNESCO City of Literature.
GWR Art Insf8118t
Objectlve: Increased literary engagement and involvem&nt and a greater love of re8dlng and
storytelling,. Greater awareness of the soaal and economic value of literature; Increased re￿gnitIOn
for Exeter and wider Devon as a destlnalion for literary tourism; More 8qUit8ble and Incluslve Ilierary
offer for a wder array of diverse audiences.
Aim.. Develop an ongoing program of literary-based projects, events, and inltlatives that stimulates
cuhural well-belng and contributes to the literary ecology of Devon- Deliver an incluslve tslenl
development program that supports and on¢ourages Illeracy and literary engagement.
Achievements: Two young artists from the University of Plymouth wer8 giv8n a subslanb'al
commission to create permanent ar￿V0￿ al Exeter Sl. David's. The artwork is inclusive an(J
showcases the rlthness of Devon's literary heritage and Ilterary insplration. The unvelllng was
attended by local media and the author Philip Reeve.
Book Nooks In W8nn Spaces
Objective: Improved cultural and creative well-being. Incre8sed literary engagement and involvement
and a greater love of reading and storytelling,. More equitable and inclusive lil&rary offer for a wider
array of d￿er8e audiences.
Alm: Develop an ongoing prograrn of Ilterary-based projects, events. and initiatives that stlmulate
cultural well-being and contribute to the literary ecology of Devon.
Page 5

Exeter City of Literature
Trust•es' Report (continued)
Achievements: This was the ch8riWs first publlc fundralsing campaign with additional funding from
Devon County Counell. Four Wami Spaces were selected from the lowest-literacy neighbourhoods
across Devon, and each one received numerous new books purchased from Independent bookshops
in Devon as well as new fijrnlture and readlng glasses for their Book Nooks.
UNESCO Aclivthes
Objectiva: Improved cultural and GreatNe well-being., Increas￿ Ilterary engagernent and invofvement
and a greater love of reading and storytelllng; Increased qualhy, quantity, and diversity of stories 8nd
storylelling: More equitable and incluslve literary offer for a wlder array of diverse audiences.
Alm: Develop an ongoing program of lilerary-based projects. events, and initlatives that stimulate
cultural well-being and contribute to the literary ecology of Devon,. Dellver an Snclusive talent
development program that supports and encourages Ilteracy and literary engagement.
Achievements: The charity produced and participated in Translating Cultures with the Universlly of
Exeler, an author residency with Barcelon8 City of Literature, and Slamovislon with dozens of Cllies of
Literature. The results of thase projects led to poetry publlshing be￿een Lviv City of Literature an
the unlversity and significant wrlter development for young authors and poets in Devon.
Partnership NetwoH( Members
Afrl¢a Wrltes, Agile Rabbit, Arts & CU￿Ure University of Exeter), Arvon. Bookbag, Devon & Exeter
Institution. Document81 Theatre, Exeter Cathedral, Exeter City Council, Exeter College, Exeter
Phoenix, First Draft Bookshop, Gnash Bookshop. InExeter, Libraries Unlimited, Literature Vvorks &
Quay Word5. MakeTank, Northcott Theatre, Oxfam Bwkshop, The Pelican Project. Qulrk Theatre,
RAMM, South West Heritage Trust, Sporkl, Theatre Alibi, Universlty of Exeter - English Department,
University of Exeter
Library & Speci81 Collections, Universlty of Exeter
Modem Languages,
Sludenls Guild (Universty of Exeterl. Villages in Action, Mslt Exeler. Well¢ome Centre for Cultures &
Environments of Health, Word Kitchen.
Flnanclal Revlew
The Trustees are pleased with the progress on org8nisational set-up. operauonal dallvery, and the
financial health of Exeter City of Literature In tts third full year of operallon. Th8 Trustees are grateful
to the primary funder, Arts Council England, for ils commitment to the vislon of Exeter Clty of
Literature and Its funding to establish and gr¢JW the charfly.
At 31 March 2024, the figure for Rastrfcled fund rgserves is £109,001 and for general ftjnd reseNes Is
£32,146. Restricted and general fund reserves can b? SP8nt only with approval by the Trustees al an
ordinary or extraordinary Board meetlng. The Trustees will ravlew and approve the reserves pollcy In
April each year as part of the preparation of the annual report and audited accounts. The general
funds reservo will be used to supplement specific Gornmunlty engagement and program actNity as
approved by Trustees over the next 12 months.
Pago 6

Exeter City of Litèrature
Trustees, Report (continued)
statement of Trustees. Respon51billtles
The Irustees are responsible for preparing the trustees, report and the finanThal statements in
accordance wth the United Kingdom Accounllng Standards Iunlted Kingdom Generally Accepted
Accounting Practlcel and applicable law and regulations.
The law 8ppllcable lo charities requires the trustees to prepare financlal ststemènts for each finandal
year whlth give a true and falr vlew of the state of affalrs of the charity and of the incoming resources
and appllcation of resources of the charity for that perlod. In preparing these financial statemenls. the
trustees are requlred to=
select suitable accounting policies and then apply them consistently,
obseNe the methods and principles in the Charitles SORP;
make judgements and estlmate5 thal arg reasonable and prudent.,
state whether applicable accounting standards have been followed. subject lo any material
departures disclosed and explained in the financial stalemenls: and
prepare the financial statements on the going concem basis unless 11 is inappropriate to presume
that the charity will ¢ontlnue In business.
The trustees are responsible for keeping proper accountlng records that disclose with reasonable
accuracy at any tlme the financial position of the charity and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations
2008. and the provisions of the wnstltution. The trustees are also responsible for safeguarding the
assets of the Cha￿tY and hence for taklng reasonable steps for the prèvention and detectlon of fraud
and other irregularlties.
The trustees are responslble for the malntenance and Integrity of the corporate and financi81
information included on the charitable companys website. Legislatlon governing the preparation and
dissemination of financial statements may differ from leglslalion In other jurisdiGtions.
The 8nnual report was approved by th8 Iruslees of the charity on
behalf by..
3110112025
and signed on its
S Hashemy
Trustee
Page 7

Exeter City of Literature
Indepondent Examlner's Report to the trustees of Exeter City of Literature
I report to the trustees on my examlnation of the accounts of Exeler City of Lllerature for the year
ended 31 March 2024.
Responslbillties and basls of report
As the charity Iruslees of Exeter Cty of Literature you are responsible for the preparalion of the
accounts in accordance with the requlremenls of the Charities Act 2011 l'lhè Act'l.
I report in respect of my examination of the Exeter City of Literature's accounts carried out under
section 145 of the 2011 Act and in carTring out my examinallon I have followed all the applicable
Oirectbns glven by the Charity Commission under section 145151(bl of the ACL
Indopendent examlnerfs statement
Slnce Exeter City of L((erature's gross income ex￿ed￿d £250,000 your examiner rnu51 be a member
of a body listed in seciion 145 of the 2011 Act. I conflmi that l am quallfied to undert8ke the
examination because l arn a member of ICAEW, which is one of the listed bodies.
I have completed my examlnalion. I confirm that no material matters have come lo my attention in
connection wlth the examination giving me cause to belleve that in any material respect=
1. accounting records were not kept in respect of Exeter Cty of Llierature as required by sectlon
130 of the Act.. or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and Content of
accounts set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any
requirement that tha accounts give a 'true and fair view which is not a matter consldered as pert
of an independent examination.
I have no eoneems and have come across no other matters in connectSon with the examinatlon to
which attention should be drawn in this report In order to enable a proper understanding of the
accounls to be reached.
Catherine Willlams FCA DC
Independent Examiner
Westcotts (SWI LLP
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
Dal8:.3.1........Tr.fKLQy a02
Pag8 8

Exeter City of Litèrature
Statement of Financial Activities for the Year Ended 31 March 2024
Unrestrlcted
funds
Restrlcted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charftable acllvltles
5,000
17,302
232,650
1.406
237,650
18,708
130,249
5.851
Total Income
22.302
234.056
256,358
136.100
Expenditure on:
Charitable activities
{12,587
161,5121
{161,5121
1174,0991
177,2121
177,2121
Total expenditure
(12,587
{174,0991
Net income
Gross transfers be￿en
funds
9,715
72,544
82,259
58,888
1,602
1.602)
Net movement in funds
11,317
70,942
82,259
58.888
ReGonclllatlon of funds
Total funds brought f0rn8rd
20,829
38,059
58,888
Total funds carried forward 16
32,146
109,001
141.147
58.888
All of the charity's activities dedve from continuing operatlons during the above two periods.
The funds breakdown for 2023 15 shosvn in note 16.
The notes on pages 11 to 19 form an integral part of these financial statements.
P8ge 9

Exeter City of Literaturo
(Reglstration number: 1196686)
Balance Sheet as at 31 March 2024
2024
2023
Noto
Flxed assets
Tangible 8ssets
11
1.202
Current assets
Deblo
Cash 8t bank and in hand
12
13
83
149.561
64,709
149,644
{9.6991
64,709
{5,821 }
58,888
Credltors: Arnounts falling due wlthin one year
14
Net current assets
139,945
Net assets
141.147
58.888
Funds of the charlty:
Restrlcted Income lunds
Reslridad funds
109,001
38.059
Unrestrlcted income funds
Unrestricted funds
32.146
20,829
Total fund•
16
141,147
58.888
The financial statements on pages 9 to 19 were approved by the tnjstees, and authorlsed for issue on
3110112025
and signed on their behalf by..
S Hashemy
Trustee
The notes on pages 11 to 19 form an integral part of these financial statements.
Pago 10

Exeter City of Literature
Notes to the Financlal Statements for the Year Ended 31 March 2024
1 AGGountlng policies
statement of compllance
Th8 financial statements have been prepared in accordance wlth the second edttlon of the Chariligs
statement of Recommended Practice issued in October 2019, the Flnancial Reportlng Slandard
app15cable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charilles Act 2011.
8asls of preparation
Exeter Clty of Literature meets the definition tsf a public benefit entity under FRS 102. The accounts
(financial stalementsl have been prepared under the historical cost conventlon vlth ilems recognised
at cost or transaction value unless otherwise staled In the relevant notels) to these accounts. The
financial statementx have been prepared In sterllng whlch is the functional currency of Ihe charity.
Going concem
The trustees consider that there are no materlal uncertalntles about the charitys ability to conunue as
a golng conc8m.
Income and endowments
Voluntary income indudlng donations, gifts, legacles and grants that provide ¢ore funding or are of a
general nature is recognSsed when th8 charity has entitlement to the Incom8. It is probable that the
incom8 will be received and the amount can be measured ￿th sufficient reliability-
Grants recelvable
Grants are rec£)gnised when the ¢harity has an entitlement to the funds and any ¢onditlons linked to
the grants have b88n mel. Whore performance conditions are attached to the grant and are yel lo b
mel, the Income Is recognisgd as a liability and included on the balance sheet as deferred Income to
be released.
Expendllure
All exponditure Is recognlsed once there Is a legal or constructive obIlga￿On to that exp8nditure, it is
probable settlemenl Is required and the amount can be m8asured reliably. All costs 8re allocated to
the applicable expendilure heading that aggregate slmilar costs to that category. Where costs cannot
be dirnctly altrlbu18d to particular headings they have been allocated on a basls consistent with the
use of resources, with central staff costs allocated on the basis of tlme spent, and depreciation
charges 211ocated on the portion of the asset'5 use. Other support Costs are allocated based on the
spread of staff costs.
Charltable activitios
Charitable expendlture comprises those costs incurred by the charity In the delivery of its activities
and services for Its beneficiaries. It includes both costs that Can be aliocat&d dlrectly to such activitios
and those costs of an indirect nature necessary to support them.
Page11

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
Support costs
Support costs include central functions and have been allocated to actlvlty cost categorfes on a basis
consistent wlth the use of resources, for example. allocatlng propety costs by floor areas, or pgr
capila, staff costs by the lime spent and other costs by thelr usage.
Governance costs
These include the costs attribulable to the charfly's compllance with constitutional and statutory
requlremenls. including audll, strateglc managernenl and trustees meetings and reimbursed
expenses.
Tan9lble flxod assets
Individual fixed assels are inltlally recorded at cost, less 8ny subsequent accumulated depreciation
and subsequent accumulated imp8irment losses.
Depreclatlon and amortlsatlon
Depreciation is provided on tangSble fixed assets so as to wrlte off the Gost or valuation, less any
estlmaled resldual value, over thalr expected uselul ¢¢onomlc Ilfe as follows..
Depreciation method and rate
25.10 Straight line
Asset class
offi￿ Equipment
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly
liquid ifivestmenls that are readily convertlble to a known amount of cash and are subject to an
insignifiGant risk of change in value.
Fund structure
UnreslriGted inwme funds are general funds that are available for use at the trustees discretlon in
fvrthgrance of the oblectives of the charity-
Restrfcted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that are8 or purpose.
Pensions and other post retlrement obllgatlons
The charity operates 8 defined contrlbutlon pension scheme which 18 8 pension plan under which
ffixed eontribulions are paid into a penslon fund and the charity has no18gal or conslructive obllgation
lo pay further contributions even rf the fund does not hold sufficlent assets lo pay all employees the
benefits relating to employee seNice in the current and prior periods.
Contributions to defined contribution plans are recognlsed in the Ststemenl of Financial Activllies
when they are due. If contribution payments exceed the contributlon due for service, Ihe gxcess Is
recognised as 8 prepayment.
Page 12

Exeter City of Litorature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
Flnanclal Instruments
Classlflcation
Flnanclal assets and financial Ilabilities are rea)gnised when the tharity become5 a paty to the
conlraclual provislons of the Instrument.
Finandal liabilitles and equity instruments are classsfted according to the Substan￿ of the contractU81
arrangements entered into. An equity instrument Is any contract thal evidences 8 residual interest In
the assets of the charity after deductlng all of Ils liabiliknes.
Recognltlon and nJeasurem•nt
All financial assets and liabilities are initially measured at transaction price {including Irans8Ction
costs), except for those financial 8ssets classified as at fair value through profit or loss, whSch are
initially measured at fair value (which is normally the tr8nsacilon price excluding transactlon coslsl,
unless the arrangement constitutes 8 financing transactlon. If an arrangement constitutes a financing
transaetlon. the financi81 assel or financial liabS1ity is measured at the present value of the future
pa￿ents dlscounted al a mart(et rate of Interest for a simllar debt instrument.
Financi81 assets and liabilitses are only offset In the statement of llnanclal position when, and only
when there exists a legally enforceable right to sel off the recognised amounts And the chadty intends
either to settle on a net basis, or to rea115e the asset and settle thè liability simullaneously.
Financial assets are derecognised when and only when a} the contractual right5 to the cash flows
from the financial asset expire or are settled, b) the charlty transfers to another party substantially all
of the risks and rewards of ownership of the financlal asset, or c} the charity. despite having retalned
some, but not all, signtficant rfsks and rewards of ownership, has transferred control of the asset to
another paty-
Financlal liabllttses are derecognised only whan the obllgallon speafied in the contract is dlsch8rged,
cancelled or expires.
2 Income from donatlons and legacies
Unrestrlcted
funds
Restrlcted
funds
Totsl
2024
Grants
5.000
232,650
237,650
Unrestricted
funds
Restrlcted
funds
Total
2023
Grants
20.000
110.249
130,249
Page 13

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
3 Income from charitable actlvltles
Unrestrfctad
funds
Restricted
funds
Total
2024
Activity event income
Contribution in￿rne
3,4(
13.896
406
1.000
3,812
14,896
18.708
17,302
1,406
Unrnstricted
funds
Total
2023
Activity event income
Contrlbution income
4.351
1.500
5,851
4.351
1,500
5.851
4 Expendlture on charitable actlvltles
Unrestrlcted
funds
Restricted
funds
Total
2024
Note
Programme costs
Artisllc & Cultural Spend
Charitable actlvlties
Allocated support costs
1.184
10,009
5,744
32,734
118,500
4,534
161,512
6.928
42,743
118,944
5,484
174,099
950
12,587
Unrestricted
funds
Restrided
funds
Total
2023
Note
Programme Costs
Artistic & Cultural Spend
Charitable activtues
AJIIx8ted support costs
4.616
4,032
63,542
4,616
4,182
64,520
3,894
77.212
150
978
3,894
5,022
72,190
Page 14

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
S Analy51s of govemance and support costs
Support costs allocated to charllable activities
Support
costs
Total
2024
Totsl
2023
B8nk charges
Subscriptions
Consultants fees
Independent Examiner's remuneralion
17
301
2,000
3,166
5,484
17
301
2,000
3,166
5,484
81
3.813
3,894
6 Net Incomlngloutgolng resources
Nel incoming resources for the year indude..
2024
Depreclatlon of fixed assets
7 Trustees remuneration and éxpenses
No trustees. nor any persons connécted with them. h8ve rec8lved any remuneratlon from the charity
during the year.
No trustees have recelved any reimbursed expenses from the charity during the year.
Page 15

Exeter City of Litsrature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
8 Stsff costs
The aggregate payroll costs were as follows..
2024
2023
Staff costs duylng the year were..
Wages and salades
Pension costs
74.272
5,203
79,475
56,405
1.654
58.059
The Monthly average number of persons Ilnduding senior management I leadership team) employed
by the charity durlng the year was as follows:
2024
No
2023
No
Charitable activities
No employee recelved emoluments of more than £60,000 durlng the year
g Independent examlnerfs remuneration
2024
2023
Examination of the flnanclal statements
3.166
3.813
10 Taxation
The charlty is a reglstered charty and Is therefore exèmpt from taxatlon.
Page 16

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
11 Tangible flxed assets
Furniture
and
equipment
Total
Cost
Additions
1,602
1.602
At 31 March 2024
1,602
1,602
preclatlon
Charge for the year
400
400
At 31 March 2024
400
400
Met book value
At 31 March 2024
1,202
1,202
12 Debtors
2024
Trade debtors
Prepayments
33
83
13 Cash and ca8h equlvalents
2024
2023
Cash at bank
149,561
64,709
14 Credltors: amounts falllng due wlthin one year
2024
2023
Trade creditors
Other lax8tion and social security
Pension creditors
Accm8ls
875
6,203
521
2,100
9,699
339
1,831
372
3,279
5.821
Page 17

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
15 Pension and other scheme5
D•fined contrlbutlon penslon scheme
The charity operal8s a defined contrfbution pension scheme. The pension cost charge for the year
ropresents contributions payable by the charity lo the scheme and amounted to £5.203 {2023
£1,654).
16 Funds
Balance at
Balance at
31 March
2024
Incoming Resources
resources
expended
2023
Trnnsfers
Unrestrlcted funds
General Fund5
20,829
22,302
112,587)
1,602
32,146
Restricted funds
ACE NPO
ACE Project Grant 1
ACE Project Grant 2
GWR Community Fund
1.471
5,425
21.863
9.300
159,870
18,060
1,026
55,100
1105,5641
{14,3461
(4,842)
36,760
1161,5121
(147)
11,0971
1358)
55,630
8,042
17,689
27,640
109.001
38,059
234,056
11,6021
Total funds
S8,888
256,358
(174,099
141,147
Balance al
31 March
2023
Incoming
resources
Resources
expended
Unrestr5cted funds
General Funds
25,851
{5,022)
20,829
Restricted funds
Grants Restricted Fund
110,249
72,1901
38,059
Total funds
136,100
77,212
58.888
Restrlcted Fund6
The restricted funds are to be spent on the Ilter8ry projects In which they were glven.
In order to assist users of the accounts, additional disclosure has been inGluded within the 2024
accounts to show more clearly the individual restrlcted funds.
Pagg 18

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
17 Analysls of nat assets between funds
Totsl funds
at 31 March
2024
UnTestrlcted
funds
Restricted
funds
Tangible fixed assets
Current assets
Current liabilitses
1,202
40.643
9,699
1,202
149,644
{9,699)
141.147
109,001
Total net assets
32.146
109,001
Total funds
at 31 March
2023
Unrestrlcted
funds
Restrlct¢d
funds
Current assets
Current Ilabilities
24,144
3,315
40,565
12,5061
38,059
64,709
15,821
58.888
Total n818ssets
20,829
18 Relatsd party transactlons
There were no related party transactions in the year.
Page 19