Charity registration number.. 1196686
Exeter City of Literature
Annu81 Report and Financial Slalemenls
for the Year Ended 31 March 2025
WESTCOTTS
eHARTÉfiÈD A¢¢OUtlTANTS
& BU51t4E5S AD¥iser¢s

Exotor City of Literature
Contents (continued)
Reference and Administrative t)etails
Twstees. Report
2to7
Independent Examinerfs ReFQrt
Ststement of Financial ActivrtiÈs
BalanGe Sheet
10
Notes to the Financial Ststements
11to19

Exetsr City of Literatur•
Reference and Admlnistrativo Details
Truslee$:
Sharifa mi￿ard Al Hashemy. Chair {appointed 16 April 2024)
Dr Adam Watt
May Arg￿e
Sophia Pavello
Dee Rowett
Esmie Jikiemi-P&arson (appointed 16 April 20241
Hannah Miller {appointed 16 April 20241
Tom Stsnrford lappoinled 16 April 20241
Laura Wright {re&gned 23 May 20241
Charty Reglstratlon Number
1196686
Prlnclpal Office
Exeter Phoenix
Bradnineh Place
Gandy Street
Exeter
Devon
EX4 3LS
Independent Examlner
Westcotts (SWI LLP
47 BoutkY)rt Street
Bamstaple
Devon
EX31 1SQ
Pag? 1

Exetsr Clty of Literature
Trustees. Report
The trustees pfftsent the annual report together with the financial statements of the charty for the ygar
ended 31 Mar¢h 2025.
Structure, Governance, and Management
Nature of Govemlng Docurnont
The charity is a charitable incorporated organisation and is a registered chanty. It 15 operated under
the rules of i(s Constitution dated 19th November 2021. The liability of each member in the event of
winding up is limited lo £1.
Rocrultmont and Appolntment of Trusteas
The trustees who served during the period a￿ listed in this document. Trustees are appointed by
resolLttion passed at a property convened meeting of the charity trustees. The Board shall consist of at
least three charity Iruslees. There is currenlty no m8￿MuM of trustees that may be appointed to the
cio.
Indu¢tlon and Tralnlng of Trustees
In selecting individuals for appointrnent as charty Irustees, the trustees must have regard to the skills,
knowledge, and experience needed for the effective administration of the CIO. Before their first
appointment, new trustees receivg a copy of the current ver5iDn of the CIO'S constitulion and a copy
of the CIO'S Lqtesl Annual Report and ststement of account5.
Oryanisational Structhrg
The charity trustees manage the affairs of the CIO and exercise all power5 of the CIO. Therg ar
¢urrently eight trustees who meet quarterly at fomial board meetings. Be￿en formal meetings, th8
board wll discuss any relevant matters as and when they arise, eTthèr as part of their sub-committee
work or in addition. The sub4ommittees are P8ople & Govemance. Finan￿, and Youth. The trustses
delegate the day-to4ay management to the Executive Director. During the period, there have been
no material changes in the policies pursued by the Board.
Objectlves and Actlvities
The CIO has b8en estsblished for the public bengfft for the lollowing Purpos￿..
A. the advan￿ment of education and the arts. by providing or assisting in the provi5ton of
opportunilies lo discover, acces5, engage in, Igam ab04Jt, understand and enjoy literature, writing,
reatiwty, culture and heritage,. and
B. such other charitable purposes that benefrt the public consistent wth the object above as the
¢harty tru5te8s shall detemiine.
In support of our objectives. it is envisaged the charty will work with our partners across Exeter,
Devon, and the UNESCO Cty of Literature Ne￿Ork to:
A. Improve cultural and creative well-being.
B. Increase literary engagement and involvemont and a greater love of reading and sloryt&lling
C. Bring a greater awareness of the social and economic valuè of literature.
D. Increase recognition for Exelgr and wider Devon as a destination for literary tourism.
E. Increase quality, quantity, and diversity of stories and storytelling.
F. Provide a MO￿ equitable and inclusive literary offer for a Whder array of diverse audiences.
Page 2

Exeter City of Literature
Trustees, Report (continued
Financial Review
ReseNeg Pollcy
Th8 Irusle8$ wognise the importance of maintsining adequate reseNes to ensure the charty's
financial resilience and abilty lo deliver its charitable objectives in the arts. For the purposes Of this
polity, reserves are those unrestricted fund5 freely availab￿ for use at the trustees, discretion. They
exclude reslricled funds, fixed assets held for charity use. and any funds designatfjd for a particular
purpos9. The Charity will hold reseNes for the following purpose5.'
To allow the Trustees to prepare lor an unexpected drop in income or other change of
Circumstances in a volatile environment. This will be a sum not less than three months, operating
costs and will allow the charty to respond to Sudden change and manage the impact in an orderly
manner.
• To set asKJe funds for the chari￿$ empbymenl wmrnrirnenls. This will be the sum relating to the
Executive Team's contracts.
. To invest in speeific activty to advance the tharrtable objeetlves that would not otherwse happen.
At 31 March 202S, the fKJur8 for reserv95 1$ £55,000. equivalent to approximately thre8 months,
operating costs plus additional contingency. Reserves can be spent onty with approval by the
Trustees at an ordinary or extraordinary Board meeting. The trustees will review and approve the
reserves policy in April eath year as part of the preparation of the annual report and audit￿ accounts.
Our Vlsion and Valuos
Our vision is for everyone to love stories and sto￿elling. Our mission 15 to work wth our bcal and
global ¢ommunities to celebrate the dwrse stories within.
Exeter City of Literature staff. Tru$tee$. Partnership Network members. and ¢yJllaborative partners
Treat all indmduals and groups with dKJnity, respect, fairne￿, and compassKJn so that we ¢reate an
environment that is welcoming to all.
Slrwe fr>r &xc&llence in all that we do. pushing boundaries and reimagining realities whgrgver
possible.
Champion a literary culture and the literary arts in and around Exeter, exp8cting the hKJhest quality
and innovatNe imagination in our programming, projects, and funding support.
Uphold values that oppose raeism, sexism, classism, homophobia, transphobia. xenophobia,
ableism, ageism, religious prejudice, and other covert and overt fo￿3 of discrimination and bias.
Recognise that words and actions matter and understand that the absence of words and actKJns
also matter. Impact is just as crucial as intent.
App￿cIate that becoming inclusive and respecltul is a continuous process and Ihat we 811 act
in imperfect ways sometimes. Remain self-aware of our own limitations and fla￿. recognising when
are not at our best and communicating openly lo reS0￿e problems.
Ensure the experionces, values, and needs of under-represented. minorty. an￿Or oppressed
groups are represented and increased in poli¢y. prcgrams. practices, sponsorship, and leadership.
OurAims
Our strategic aims set out the key things wg want to achieve in support of our objectNes. We aim lo:
Page 3

Exgtsr City of Llt6rature
Trustees. Report (continued)
1. D8vebp an ongoing progfam of literary-based projects, events, and inttiatives that stimulat8 cultural
welkbeing and contribute lo the literary 8cology of Devon.
2. Grow, expand, and further dev81op the Exeter City of Liieralure Partnership Netsvork. sharing and
making best use of the valuable literary resources and heritage assets we collectivety hold.
3, Deliver an indusive talent development program that supports and encourages lrteracy and literary
engagement.
4. Establish a vibrant Cenlre, or cent￿ (county-wide 'hubs', induding dvJital hubs), for stOry4naklng
and $lorytglling.
Program of Actlvlty and K•y A¢hlovgments
2024-2025 was Exoler City of Lsterature's second year as an Arts Council NPO and the third full year
of operation as a registered charity. which was mnstiluted in November 2021. The charity 5UPPOrts
the literary and cultural seetors and d8velops resources for hNJh44ualty literary actiwty across Exeter
and Devon with a variety of partners.
Since 2021. the organisation has &slablished a number of long-temi programs that deliver impact
across our three strategic pillars.. Place-shaping, Wellbeing, and Talent Development. Be￿een April
2024-MarGh 2025, the programs and projects that fell under these categories induded..
Placg-shaping
. The expansion of the Partnership Netr￿rk
Producing the fourth annual Book Markel
• Attending and Pr￿nting at the annual Cities of Literature conferenc& in Edinburgh
• Establishing the L￿le Fraw public eonsulialion rneth￿l
Revising our Literary Map of Exeter and Devon
• Taking over the running of the Penguin Book Vending Machine
• Celebrating Exetels fffth year as a UNESCO City of Literatur8 Mth the Cty Reads initiatN8
• Released our first UNESCO Membgrship Monitoring Report
Wellbeing
Launching the first pard Introduction to Bibliotherapy-counselling Skills ￿vr$e
Bringing Book Fairies to Devon
Don81ing additional books to our Book Nooks in Warm Spaces across Devon
Establishing an official Silent Book Club in Exeter
Free DEI mgmberships for low income Devon creatives
Talent Developm•nt
Hosting the second Exeler-Barcebna UNESCO Writer Residency
• Working in partnership with Jakarta Cty of Li(erature on the Bridging Cities project
Illustrating The Word exhibf(ion al the Universty of Plymouth
Author Resource pad( taunehed
Ukrainian Poets in Exeter as part of the UK Cities of Literature lour
Exeter representgd on the global stage at Slamovision in Manchester
The Gharity delivered mony other ini(ialives across Exèlgr and Devon and with international partners
to further the charitable aims and lo deliver on the vision for Exeter Ctty of Literatur8. In 2024, the
charity submitted ils Membership Monitofing Report lo UNESCO, whKh demonstrated the collectNe
impact of the designation on the city belween 201&2024.
Page 4

Exeter Clty of Literature
Trustses. Report (continued)
Our key programs. and the objectiveg and amns they corre¥ond with. ar8 listed below along with thg
achievements delivered during this time perio(l.
The 8ook Market.. June 2024
Objective: Increase literary engagement 8nd invofvemenl, and a greater love of reading and
sto￿elling,- Increase greater awareness of the social and economic value of literature.. Provide a more
equitable and inclus¢ve literary offer for a wider array of diverse audien￿$.
Alm: Develop an ongoing program of literary-ba5ed projects, events, and initiatives that stimulate
curtural well-being and contribute to the literary ecology of Devon.
A¢hlevements: The Book Market has become a staple of Exeterfs summer. The central locats'on on
the Cathedral Green brings nèw audiences lo the free evgnt every year, seeing approximately 1,500
visitors in 2024. We had 11 booksellers from across Devon, four book-themed vendors, four food
vendors, and 10 activi(ies including a wheolchair lette1p￿Ss. bibliotherapy, and a Youth Adviso
haiku activty. All vendors reported a profit and feedback from the public was very pc>silN8.
Llttle Fraws {Public Consultation)
Oblocllvo: In¢￿aSed literary engagement and involvement,. Increase qualrty. quantty. and diversty of
stories and storytelling.. Provide a more equitable and inclusive literary offer for a wider array of
diverse audlenc*s.
Alm: Develop an ongoing program of lrterary-based projects, events, and initiatives that stimulate
¢ultural well-being and contribute to the literary ecology of Devon.
Achievgmgnts.. Using best practKe from the UNESCO Cities of Literature Netwoth, we devebped a
vèrsion of Lillehammer Cty of Literature's public consullalion methodology known as gjgslebud. For
the Little Frawzys, a small group of members of the public are brought together by an indiwdual in
their home, a Cafe. or Dul walking lo discuss topics and questions given lo them by Exeter Cty of
Literature. It'$ a way of gathering public feedback on thè cultural sector and literary life in Exeter and
Devon wf(houl a member of the staff. board. or any other official prèsent. Thg host is paid for their
timè and refreshment5 to create a convNial and w91comiThJ atmosphere, and a report 15 delivered to
EXCOL. So far, six Frawzys have taken place across the city with 40Vo of participants seif4escribed
as disabled and 200h had free school meals as children. The feedback from all Frawzys 18
consolidated, anonymized. and shared wf(h the Partnership Nthork so that all cuhur81 partners and
gtskeholders benefit from this methodology and this feedback. EXCOL refers to this feedback during
planning stsges for public programming and organizational slralggy.
Introduction to 8ibliotherapy£ounselling Skills
Oblective: Improve cultural and cr9ats.ve well-being-, Increase literary engagement and invownenl,
and a greater bve of reading and storytelling,. Provide a more equitable and indusive literary offer for
a wider array of diverse audiences.
Aim: Develop an ongoing program of literary-based projects. events. and initiatives that stimulates
cultural wèll-bèing and contributes to the literary eeology of Devon., Deliver an inclusive talgnl
development program that supports and encourages literaw and li(erary engagement.
Achi8vements: Eight students partiupated in our first commercial COUTse be￿n January-march
2025, bringing in an additional In￿Me stream lo the charity. Sixty-one students in totsl have now
completed the course. Leadership from Exelgr City of Lf(eralure and Exeter College devgloped the
course further in preparation for accreditation from the National Counseling and Psychotherapy
Society in the summer of 2025.
Page S

Exeter City of Litsrature
Trustees, Report (continued)
Silent Book Club
Objective- Improve cumural and creative welkbeing", Increase literary engagement and involvement
and a greater love of reading and storytelling,. Bring a greater awareness of the social and economic
value of litèrature,. ProvKle a more equitable and inclusivg literary offer for a wider a￿aY of divgrsfj
aUdien￿S.
Alm: Develop an ongoing program of litera￿baSed projects, events. and inrtialives that stimulate
cuttural well-being and ¢tsntribule to the literary ecology of Devon.
Achiovomènts: In April 2024, we launched the lirgl offieial chapter of the Silent Book Club in Exelgr.
The mission of a Silent Book Club is to create a welcoming, inclusive space for readers to gather and
enjoy quiet, communal feading. 11 offers a social experience wilhoul the pressure of assigned books or
structured discussion. and is entirely free to attend. EXCOL promdes free National Book Tokens to
anyone who m8y not be able lo afford lo purchase 8 new book. Starting from just under 30 people al
the first Ses$￿1n. we now see upwards of 50 people al each of the two sessions per month we now
hDSt. Using a mood board trackef, we know that. after 8 Silent Book Club sessron. attendees, moods
have irnprovgd by 33%.
UNESCO Actlvltles
Objqcthie: Improved cultural and cr88twe Wel￿beIng.. Inereasod lilorary engagement and involvemfjnt
and a greater love of reading and storytelling., Increased quality, quantity, and divèrsty of stories and
$lorytelling.' More equitable and inclusNe literary offer for a wider array of dNerse audien￿5.
m: Develop an ongoing pro3ram of Ir(er8ry-based projects, events, and initiatives that stimLblate
cu￿Ural w8lkbeing and contribute to the literary ewlogy of Devon., Deliver an inclusive talent
development program that supports and encouraggs literacy and li(er8ry engagement.
Achiovoments: The charity prtyjuced and participated in a 8rrtish Councikfunded writer development
prtrject with Jakarta Cty of Literature, an author residency with Barcelona City of Literature. and
Slarnowsion with dozens of Cilies of Literature. The results of these projects led to a joint exhibf(ion of
local and intsrnational writing in Exeter and Jakarta. a deepening of Exelefs relationship wrth Lwv
City of Literature, and signrficanl writer development opportunits.es for young people in Devon.
Partnershlp NetyA)rk Membo
Africa Wrf(es. Agile Rabbf(, Arts & Culture - University of Exeter, Arvon, Bookbag. Devon & Exeter
Institution. Documental Theatre. Exeter Cathedral, Ex8ler City Council, Exeter College, Exeter
Phoenix, First Draft Bookshop, Gnash Bookshop, InExeler, Libraries Unlimited, Lrt8ralure Works &
Quay Words, MakeTank, Northcott Th8alre, Oxfam Bookshop, The Pelican Project. Quirk Theatre,
RAMM, South West Heritsge Trust, Sporkl Theatre Alibi, University of Exeter- English Department,
Universty of Exeter
Library & Special Colleolions, University of Exèter
Modem Languages,
Students Guild (University of Exeterl, Villaggs in Acti)n, Visit Exeter, Wellcome Cenire for cu￿￿re5 &
Environments of Health. Word Kitchen.
Flnanclal Rovlew
Tha Trustees are pleased with the progre88 on organisatK)nal set-up, operational delivery, and the
financial heawh of Exeter City of LTteralure in its third fvll year of operation. The Trustees are grateful
to the primary funder, Art5 Council England. for its commitrngnt lo the wsion of Exeter Cty of
Literature and its funding to establish and grow the eharty-
Page 6

Exeter Clty of Llterature
Trustees. Report (conllnuedl
At 31 March 2025, the figure for Restricted fund res8rves is £6,976 and for general fund reswvas is
£140,302. RestrKted and general fijnd reserves can be spent only with appfoval by the Trustees al an
ordinary or extraordinary Board meeting. The Truste&s will review and approve the reseNes policy in
April each year as part of the preparation of the annual report and audited a¢￿￿nts. The general
funds iesetve will be used lo $upplgment specific community gngagement and program activity as
approved by Trustees over th8 n&xt 12 months.
Statemgnt of Trust8es' Rosponsibllitles
The Iru$tee$ are responsible for preparing the Iruslees, report and the financial statements in
accordance with the United Kingdom Accounting Standards (United Kingdom G0neral￿ Accepted
Accounting Praclicel and appIl￿ble law and regulations.
The law applicab￿ to charities requires the trustees lo prepare financial statements for each financial
year whKh give a true and fair VEW of the stale of affairs of the eharily and of the incoming resourc85
and application of resources of the charity for that period. In preparing these financial statements, the
trustees are required to-
Se￿et suitable aecounting policies and then apply them con8lStently-
observe the methods and principles in the Charities SORP;
makejudgements and estimates that are reasonable and pruderst-
state whether applicable accounting standard$ have been followed, subj'ect to any material
departures disclosed and explained in the financial statements.. and
prepare the financial statements on the going concern basis unless it is inappropriate to presuff
th* the charity ￿11 continue in business.
The trustees are responsible for keeping proper accounting records that disc10s9 with reasonable
accuracy at any time the financial positM?n of the charity and enable them to ensur8 that th8 financial
statement5 compty with the Charit￿$ Act 2011. thg Charities IAccounts and Reportsl Regulations
2008, and the provisvjns of the constitution. The Iru518es are also responsible frjr safeguarding the
a5$9ts of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and olh8r irregulanties.
The trustees are responsible for the maint8nance and integrity of the corporate and financial
information included on the charitable company's website. Legislalv)n governing the preparation and
dissemination of financial statements may differ from legislation in otherjuri$diclions.
1411112025
Th8 annual report was approved by the trustees of the charity on
behalf by..
and signed on its
Sharrfa Miword Al Hashemy
Chair and Trustee
Page 7

Exetgr City of Litsrature
Independent Examinerfs Report to the trustees of Exeter City of Llteratu
I report to the trustees on my gxamination of the account$ of Exeter Cty of Literatur8 for the year
ended 31 March 2025.
ResponslbllltSe$ and basis of rèp)rt
As the charity Iruslees of Exeter City of Literature you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011 {'Ihe Act'l.
I rep)rt in respect of my gxamination of the Exeter City of Literature's accounts carried out under
section 145 of the 2011 Act and in carrwng out my exarnination I have followed all the applicable
Dire¢tion5 given by the Charity Commission under ¥e¢tK)n 14515llbl of the Act.
Indepndont ex•minei'$ statement
I have completed my examination. l ¢onfirn that no material matters have come to my att&nb'on in
connection wi(h the examination giving me cause to believe that in any material respect..
1. accounting records were not kept in respect of Exeter Cty of Literature as required by sertion
130 of the ACL or
2. the accounts do not accord with those records. or
3. the accounts do not compty swth the accounting requirements conceming the fomi and wnlenl of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'lrue and fair wew, which is not a matter ￿nSKIered as part
of an independent examinatKJn.
I have no concerns and have come acros$ no other matters in connection with the examination to
which attention should be dI￿n in this report in ord&r to enable a proper understanding of the
accounts to be reached.
Catherine Williams FCA DChA
Independent Examiner
Wesl¢otts {SWI LLP
47 Boutport Street
Bamslaple
Devon
EX31 1SQ
Dalè..
Page 8

Exeter Clty of Llterature
statement of Financial Activitles for the Year Ended 31 March 2025
Unrestrlcted
fiJnd$
Rostrictgd
funds
Total
2025
Totsl
2024
Note
Income and Endowrnonts from:
Donations and legacies
Charitable xtMtKgS
155,000
8,006
19,660
174,660
8,006
237.650
18,708
Totsl income
163.006
19.660
182,666
256,358
Expanditure on:
Charitable aetNTties
1162,9281
113,607
13.6071
1176,535)
174,099
Total expendttu
1162.9281
1176,5351
174,099)
Net income
Gross transfers be￿en
funds
78
6,053
6,131
82.259
108,078
1108,078
Net movement in funds
108,156
(102,025)
6.131
82,2S9
Reconclliation of funds
Total funds brought fomard
Total funds carried forward 16
32,146
109,001
141.147
58.888
140,302
6,976
147,278
141.147
All of tha charty'$ aGtivitie$ dèrive from continuing O￿latIOnS during the above two perK)ds.
The fijnds breakdown for 2024 is shown in note 16.
The notes on pages 11 to 19 fomi an integral part of these financial statements.
Page 9

Exeter City of Literature
(Registration number: 1196686)
Balance Sheet as at 31 March 2025
2025
2024
Flxed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
11
802
1,202
12
13
429
150,910
151.339
83
149.561
149,644
Credltors: Amounts falllng duo wlthln one year
Net current assets
14
14,8631
(9,699
146,476
139,945
Net assets
147.278
141,147
Fund$ of the charlty:
R8strict8d incomè funds
Restricted funds
6,976
109,001
Un￿StrICted Income funds
Unrestricted funds
140.302
32,146
Total funds
16
147,278
141,147
The financial statements on pag&s 9 to 19 were approved ty the Irusteg$. and authorised for issue on
1411.11202s....... and signed Dn their behalf by.
Sharifa Mil
ord Al Hashemy
Chair and Trustee
The notes on pages 1110 19 forni an integral part of these financial statements.
Page 10

Exeter City of Literature
Notes to the Financlal Statements for tho Year Ended 31 March 2025
1 Accounting pollcle$
Statement of compliance
The financial slalements have been prepared in accordance with the second edition of the Charities
Statement of Recommended Practice issued in October 2019. the Financial Reporting Stsndard
applublo in th¢ United Klngdom and Republic of Ireland IFRS 1021 and the Charities Ad 2011.
Basls of preparatlon
Exeter Cty of L((erature meets the definition of a public beneffil entty under FRS 102. The accounts
(financial stalementsl have been prepared under the historical cosl convention with items rewgnised
at cost or transaction value unless otherwise staled in tho relevant notelsl to thes& a￿o￿nts. The
financial slalemenl$ havg been prepared in sterling which is thg function81 currency of the charty.
Golng ¢oncem
The trustees consider that there are no material uncertainties about the eharws abilty lo continue a$
a going concern.
Income and endowments
Voluntary income including donations. grfts, legacies and grants that provide core funding or are of
9eneral nature is recognised when the chanty has entrtlement to the income, rt 1$ probable that the
income will be receNed and the amount can be measured with sufficient reliability.
Grnnts re¢efvable
Grants are recognised when the charty has an entitlement to the funds and any conditions linked to
the grants have been met. Where performance ¢ondf(ions are attached lo th& grant and are yel to be
mel, the income is recognised as a liabilty and included on the balance sheet as deferred income lo
be released.
Exp8nditur&
AJI expendrture 15 rewgnised once there is a legal or constructive obligation lo that expendriure, (( is
probable settl&menl 1$ required and thè amount can be measured reliably. All eosls are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed to Part￿Ular headings they have been allocated on a basis CDnSlStenl with the
use of resources. wlh central staff costs allocated on the basis of time spent, and dgpreeiation
Charges allocated on the portion of the asset's use. Other support wsts are allocated based on the
spread of staff costs.
Charitoblo a¢tivili•s
Charitsble expendrture wrnprises those costs incurred by the charty in the delNery of its actiwties
and servic8s for its beneficiaries. 11 includes both eosts that can be allocated directly to such activrties
and those costs of an indirect nature necessary lo support them.
Pago11

Exoter City of Litsrature
Notes to th8 Financial Statements for the Year Ended 31 March 2025
Icontinued>
Support costs
Support costs indude central functions and have been allocated to actmty cost eategori8s on a basis
onsistent with the use of resources. for example. albcating propety costs by fioor areas, or per
capita. staff costs by the tinie spent and other costs by their usage.
Governance costs
These include the costs attributsble to the charivs compliance with constilulional and statutory
requirements, including 8udrt, strateg￿ management and trustees meetings and reimbursed
expenses.
Tanglble flxed assets
Indimdual fixed assets are inrtialty rgcorded at cost. less any subsequenl accumulated deprecAatton
and subsequent 8ccumulated impaimient losses.
D•prfjciation and amortisation
Depreciation is provided on tangib￿ fixed a558ts 50 as to write off the cost or valuat￿n. tess any
estimated residual value. over their expected useful economic lrfe as follows..
Asset class
Office Equipmant
Depreciation method and rate
25'h straijht line
R&search and dovelopment
Research and dovebpment expenditufe is written off as incurred.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi highly
liquid investments that are readily convertible to a known amount of cash and ara subject to an
insignfficant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are availabte for use at the trustees discretion in
furtherance of the objedwes of the charity.
Restricted income funds a￿ those donated for use in a part￿lar 8r¢a or for specific purposes. the
use of which is restricted to that area or purpose.
Pensions and other post rntirement obligatlons
The charity operates a defined contribution penston scheme wh￿h is a pension plan under which
fixed conlributions are paid into a pènsion fund and th& charity has no legal or constructive obligation
to pay fvrther contributions even rf the fund does not hold suffiGienl assets lo pay all employees the
benefrts rel*ing to 8mploy99 sorvice in Ihe current and prior Feriods.
Contributions to defined contribution plans are recognised in the Stalem8nt of Financial Activi(ies
when they are due. If contribution payments exceed the contribution due for se￿￿, the excess is
reeognised 85 a pr¢payment.
Page 12

Exeter City of Literature
Notes to the Financial Statements for the Year End6d 31 March 2025
Icontlnued)
FlTranclal Instruments
ClasslNeadon
Financial assets and financial liabilities are recognisad when the charty becomes a party to the
ntractual prowsions of the inslnsment.
Financial liabilities and equity instrumen15 are elassified according to the substanGe of the conlraclual
arrangements entered into. An equity instrument is any contract that evidenc&s a rgsidual interest in
the as5els of the charity after deducting all of ils liabilities.
Recognltlon and measurement
All financial ass8ts and liabilf(ig5 are ini(ialty measured at transadion price (including transaction
costs), except for those financial assets classified as al fair value through profil or loss, which are
initialty measured at fair value {which is normally the transaction price excluding transaction costs).
unless the arrangement constitutes a financing lrnnsaclion. If an arrangement consliiutes a financing
transaction, the financial asset or financial liabilrty is measured at the present value of the future
payments discounted at a market rate of Inte￿$1 for a similar debt instrument.
Financk41 assets and liabilities are only offset in the statement of financial posr(ion when. and only
when the￿ exists a legalty enforceable right to S81 off the recognisèd amounts and the charity intends
either to settle on a net basi$. or to realise the asset and Settle the lobility 3ifflultsneously.
Finaneial assets are dereeognised when and OTh￿ when al the contractual rights to the cash flow5
from the financial asset expire or are settled, bl the charty transfers to another paty sub8tanlially all
of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained
some, but not all, Significant risks and rv•vard5 of (y•vne￿hlp. has transferred control of the asset to
another paty.
Financial liabilitses are derecognised On￿ when the obligation specrfied in the contract is drs¢harged.
an￿lled or expires.
2 Incomg from donations and leg•¢igS
Unre8trlcted
funds
Rostricted
funds
Total
2025
Grants
155,000
19,660
174,660
Unrestrict
funds
Restrlcted
funds
Total
2024
Grydnts
5.000
232.650
237,650
Page 13

Exetsr City of Lit•raturo
Notès to the Financial Ststements for the Year Ended 31 March 2025
(continued)
3 InGome from charltable actlvltles
Unrestricted
fund8
Totsl
2025
Art￿lty event income
Contribution ineome
4.948
3.058
8,006
4,948
3,058
8.006
Unrostrlcted
funds
Restricted
funds
Total
2024
Activity event income
Conlributiort income
3,406
13.896
17,302
406
1.000
3,812
14,896
1,406
18,708
4 Expendlturo on charitabl8 activities
Unregtrlcted
funds
Restrictgd
fund$
Total
2025
Programme costs
Artistic & Culiural Spend
Education & Outreach
Book Vending Machine
Charitsble actiwties
Allocated support Gosl$
20.224
5,486
1.165
1,684
129,537
4,832
1 $2,928
7.598
2,505
27.822
7.991
1.172
1,684
133,034
4,832
3,497
13.607
176.535
Unrestrlcted
fund$
Restricted
funds
Total
2024
Programme eosts
Artistic & Cultural Spend
Charitable acti￿11•S
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
Page 14

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2025
(contlnued)
S Analysls of governance and support costs
Support ¢osts allo¢at¢d to charltablo actlvltles
Support
costs
Total
2025
Totsl
2024
Bank charges
Subs¢riplions
Consuttants fees
Legal and professional fees
Indepondenl Examin8rfs r&muneration
17
301
2.000
177
177
2,220
2,427
2,220
2,427
3,166
5,484
4,832
4,832
6 Nèt Incom1n￿oUtg0lnq resources
Net incoming resources for the year include".
2025
2024
Depreciation of fixed assets
400
400
T Trusts•$ r•mun•ration and eX￿￿Se9
No trustees, nor any person$ ¢onnected wi(h them, have received any remunerallon from th8 charty
during tho year.
No trustees have received any ￿1mbursed expenses from the charity during the year.
Pag&15

Exeter Clty of Literature
Notes to the Financlal Statements for the Year Ended 31 March 2025
(contlnu•d)
8 Stsff costs
The aggregate payroll Gosls were as follows..
202S
2024
Staff c¢)sts durfng tho year woro."
Wages and salaries
Social security costs
Pension costs
92,056
3,938
2,762
98.756
74.813
2.432
2,230
79,475
The monthty average number of persons {ineluding senior management I leadetship team) gmployed
by the charity during the year was as follows..
2025
No
2024
Chartsble actNities
No employee receNed emoluments of mor& than £60.000 during the year
9 Independent oxamlnerfs remuneratlon
2025
2024
Examination of the financial statements
2,427
3,166
10 Taxatlon
The Charty is a registered charity and is therefore gxgmpt from taxation.
Page 16

Exeter City of Literature
Notes to the Financial Statements for the Year Ended 31 March 2025
(continued)
11 Tanglble fixed assets
Fumiture
and
equipment
Total
Cost
At 1 April 2024
At 31 March 2025
1,602
1,602
1,602
1.602
Depreclallon
At 1 April 2024
Charge for the year
400
400
400
400
At 31 March 2025
800
800
Net book value
At 31 March 2025
802
802
At 31 March 2024
1,202
1,202
12 Debtors
2025
2024
Trade debtors
Prepayments
50
429
429
83
13 Cash and cash equiYalent8
2025
2024
Cash at bank
150,910
149,561
14 Credltorg: amounts falllng duo wlthin one year
2025
2024
Trade creditors
Other taxation and social securty
Pension creditors
Accruals
70
2.009
537
2,247
4,863
875
6,203
521
2.100
9,699
Page 17

Exetar City of Literature
Notes to the Flnancial Statements for the Year Ended 31 March 2025
(continued)
15 Pension and other ￿heM0$
Deflned ¢ontrlbution p•n51on schemg
The charity op&rates a defined contribution pension scheme. The penS￿n cost charge for the yoar
represents contributions payable by the ehlrity to the scheme and amounted to £2,762 {2024
£2,230).
16 Fund¥
Balance at
1 April
Incomlng Resourc95
2024 resourcas
oxpended
Balance at
31 March
2025
Transfers
Unrestricted funds
General Funds
32,146
163.006
1162,928)
108,078
140,302
Restrlcted funds
ACE NPO
ACE Project Grant 1
ACE Project Grant 2
GWR Communty Fund
Hilden Charrtable Trust
Fund
Bridging Cities Biitish
CounThl
Connections Through
Culture British Council
55,630
8.042
17.689
27.640
(55,6301
{8.0421
(17,6891
(27,3631
{277)
6.875
{1,380)
5.495
10,000
{8,519)
1,481
2.785
3,431
109.001
19,660
13,607
108.078
6.976
Total fund$
141,147
176,535
147,278
Pag818

Exeter Clty of Llterature
Notes to the Financial Statements for the Year Ended 31 March 2025
(continued)
Balanc& at
1 April
2023
Balanco at
31 March
2024
Incomlng Resources
rpsource5
expended
Trnnsfgrs
Unrgstrfctsd funds
General Funds
20.829
22,302
112,5871
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,C60
1.026
55.100
1105.5641
114,346)
{4.842}
136,760)
1161.512)
1147}
11,0971
13581
55,630
8,042
17,689
27,640
109,001
38,059
234,056
11.6021
Tolal funds
58,888
256.358
1174,099)
141,147
Rgstrfded Funds
The rèstricted funds are to be SFent on lh8 literary projects in which they were given.
In order to assist Users of the accounts, add(tional disck)sure has beon included within the 2024
accounts to show more clearfy the indivhjual restricted funds.
17 Anatysls of net assets bgtween ￿ndS
Total funds
at 31 March
2025
Unrestricted
funds
Restricted
funds
Tangible fixed assets
Current assets
Current liabili(ies
802
144,363
4,863
802
151.339
14.863)
147,278
6.976
Total net assets
140,302
6,976
Total funds
at 31 March
2024
UnrestriGtgd
funds
Restricted
funds
Tangibte fixed assets
Current assets
Current liabilities
1,202
40,643
(9,6991
32,146
1,202
149,644
9,699)
141,147
109.001
Total net assets
109,001
18 Rglatod party transactions
There were no reLgted paty transactions in the year,
Page 19