West Midlands Readers, NetworkCIO Trustees, Report and Financial Statements for the year ended 31 March 2025 Registered Charity number 1197640
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Index Page Report of the Trustees Statement of Trustees responsibilities Report of the independent examiner Statement of financial activities io Balance sheet li Princrpal Accounting Policies 12-13 Notes to the financial Statements 13-16
West Midlands Readers Network CIO Financial Statements forthe year ended 31 March 2025 Report of the Trustee5 The Trustees of West Midlands Readers, Network CIO 1.the charit) have pleasure in presenting their report and financial statements for the year ended 31 March 2025. The financial statements comply with the Charities Act 2011, the Charity's Constitution and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting 5tsndard applicable in the UK and Republic of Ireland IFRS1021 (updated l January 20191. The charity. formerly known as West Midland Readers, Network. which was previously an unincorporated entity, was registered a5 a charity on 24 January 2022. OBJEcfivES AND AcnviTIES The objects of the Charity. as set out in its Constitutlon, are to promote education and appreciation of the subject of creative literature by provision of educational programmes, literary publications and performances and by supporting a network of book groups and readers in the West Midlands. The CharItS activities include providing training for the public, public library staff and others concerned with promoting an interest in creative literature (including an annual online conference),. organising visits by professional writer5 to books groups: organising gatherings of members of books groups and independent readers with professional writers I'Readers' Days),. arranging for book groups to commission short stories from professional writers and providing an information point to support book groups In their work in the region. When reviewing and planning activities over the year, Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity IPB21'.
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Report of the Trustees (continued) ACHIEVEMENTS AND PERFORMANCE The period of thi5 report covered a programme of activity funded by a successful National Lottery Projert Grant from Arts Council England. The work of this programme is detailed below. Alongside this work, we undertook the governance and finance processes necessary to ensure the appropriate running of the organisation. New Storie5fvr Reoder5 Short Story Commission5 We commissioned, published, and distributed a short story anthology by pairing regional writers with West Midlands reading groups to create bespoke stories. The writers commissioned were Ania Bas, Tim Franks, Wren James, Richard Lakin and Kate Mascarenhas. Library Troininq Events Following a survey of public library services about reader development training needs. a series of training sessions were run for public library and independent bookshop staff, hosted by Cannock and Nuneaton Libraries. This training included publicity. e-letters and the use of social media. Poets in Libraries Tour, Reading Spas & Reuders'Day We worked with local poetry publisher Nine Arches Press to deliver a 'Poets in Libraries, tour to five locations. We h05ted two poetry-based 'Reading Spas,, one in Wolverhampton and one in Nuneaton. We hosted a general 'Readers' Da in 8irmingham, the latter in partnership with 8irmingham Literature Festival. Readers in Resffdence Pmjert We hosted a Reader-in-Residence project in public libraries in north Staffordshire with writer Lisa Blower. The residency involved engagement to create a range of wide reaching and engaging activities. This was experienced by just under 500 readers. The Librnrlons. Virtuol Toolklt We devised and delivered a Librarians, Virtual Toolkit to share reader development skills and best practite. We drew together panellists from across the libraries and creative writing sectors, with a focus on the impart creative reading can have on health. Writersfor Readers Event5 We arranged a series of 12 author events with readers groups based in public libraries. These took place across the region. We also fursded the set-up of a new readers group for men, meeting in Thimblemill Library in Sandwell and in partnership with Tough Enough to Core. a local men's mental health charity.
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Report of the Trustees (continued) FINANCIAL REVIEW A surplus of £10212024.. Deficit of £4531 was reported for the year. This increased total funds as at 31, March 2025 which now stand at £3,424, compared to £3,322 at the end of the previous year. A grant was once again received from Arts Council England at approximately the same level as in the previous year, correspondingly the cost of Charitable Activities has remained at a similar level to the previous year. Reserves policy and risks A Reserves Policy has yet to be developed and will be made a priority for completion before the end of the 2025126 financial year. Expenditure is managed against a budget agreed by our main funder, Art5 Council England, with any increase in expenditure in one area balanced by a reduction in expenditure in another area. As most of the Charity'5 work Is provided free of charge, there is low risk of a reduction in income being a risk. In addition, prior to each period of work assurances are sought from public library authorities for their commitment to providing income via a subscription scheme. Golng Concern The organisation has been successful with an application to Arts Council England for funding for activities to happen across 2025126. and with this funding the organisation Is tonsidered a going concern.
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Report of the Trustees (continued) STRUCTURE, GOVERNANCE AND MANAGEMENT Governln8 Document The West Midlands Readers, Network is a Charitable Incorporated Organisation I'CIO'I and was registered as a charity on 24 January 2022. The CIO is governed by its Constitution which was adopted by the Board of Trustees on 2 December 2021. Appointment of Trustees, Induction & training New Trustees are appointed by invitation to join the Board given that they have the necessary skills and experience to contribute to the Clo's activities and to be able to discharge their obligations as Trustees. Prospective new Trustees meet initially with the Chair and are then invited to observe a meeting of the Board of Trustees, at which they are given all relevant papers, intluding financial reports. A document produced by the Charity Commission on the responsibilitie5 of Trustees is also provided. Subject to the prospective Trustee and the Board of Trustees being in favour of membership a Resolution is issued and voted on at a Board Meeting.
West Midlands Readers Network CIO Financial Statements forthe year ended 31 March 2025 Report of the Trustees (continued) REFERENCE AND ADMINISTRATIVE INFORMATION Trustees: Elizabeth Gardner Stella Thebridge Natalie Marlow Mar8aret HarrSs Charlty NumbÈr: 1197640 Re8lstered Offl¢e'. Studio 130. Zellig, Gibb Street Birmingham B9 4AT Independent Examlner: Karen Hanlan. ACA Karen Hanlan Independent Examiner Ltd I Saracen Close Ettington Warwick5hire CV37 7SZ Bankers.. The Co-operative Bank plc PO Box 101 l Balloon Street Manchester M60 4EP Approved by the Board and signed on its behalf bv: Stella Thebridge. MBE Trustee Date..
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Statement of Trustees. responsibilities The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the surplus or deficit incurred by the charity for that year. In preparing those financial statements the Trustees are required to: select suitable accounting poli¢ie5 and then apply them consistently: make judgments and estimate5 that are reasonable and prudent- state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the accounts,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to exist. The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls. financial and othewise. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the tharity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that.. the charity is operating efficiently and effectively: its assets are safeguarded against un-authorised use or disposition- proper records are maintained, and financial information used within the charity or for publication is reliable.. the charity complies with relevant laws and regulation5.
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Independent Examinerfs Report to the Trustees of The West Midlands Readers Network CIO {'the Charit) I report to the charity trustees on my examination of the accounts of the Chartty for the year ended 31 Mèrch 2025 which are set out on pages 10 to 16. Responsibilitlès and ba515 of report As the charity trustees of the Charity you a responsible for the preparation of the account5 in accordance with the requirements of the Charities Att 20111'the 2011 Act'l. I report in respect of my examination of the Charity's accounts as carried out under section 145 of the 2011 Art and in carrying out my examination I have followed all the appltcable Directions given by the Charity Commission under section 1451Sllbl of the 2011 Act. Independent e¥aminerfs statement I have completed my examination. I confirm that no material matters have come tts my attention in connectton wlth the examination giving me cause to believe in any material respect.. 11 accounting record5 were not kept in respect of the Charlty as required by section 130 of the 2011 Att- or 21 the account5 do not accord with those records.. or 31 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulatiorbs 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter consldered as part of an independent examination. I have no concerns and have come acr055 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. Karen Hanlan, Member of Institute of Chartered Accountants England & Wales Karen Hanlan Independent Examiner Ltd I Saracen Close Ettington CV37 7SZ Date..
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Statement of Financial Activities 2025 Income from.. 2024 Note Donations and legacies Charitable Activities 29,437 11.857 29,438 11,557 Totsl Income 41,294 40,995 Expendlture on: Raising funds 2,425 2,212 Charitable activities 38.767 39,236 Total Expendlture 41,192 41.448 Net incomel{expendlture) and net movement In funds for year 102 14531 Reconclllatlon of funds Total funds brought forward 3,322 3,775 Totsl funds carrled forward 3,424 3,322 The statement of flnancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities and all funds are unrestrirted. 10
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Balance sheet Notes 31 March 2025 31 March 2024 Current Assets Debtors Cash at bank and in hand 2,944 2,908 5.852 2.983 1,008 3,991 Current Llabilities Creditors.. amounts falling due within one year 12A28) 16691 Net current assets Net assets 3.424 3,424 3,322 3,322 The funds of the Charlty.. Unrestricted Funds Total ¢harity funds 3,424 3,424 3,322 3,322 The accompanyin8 a¢counting policie5 and notes forrn part of these financial stètements. Approved by the Trustees and signed on their behalf by.. Stella Thebrldge, MBE. Trustee Date..
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Principal accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (updated l January 20191- (Charities SORP IFRS10211 and the Financial Reporting Standard applitable in the UK and Republic of Ireland IFRS1021. West Midlands Readers Network meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unles5 Otherwise stated in the relevant atcounting poliry notelsl. Going concern statement The financial statements have been prepared on a going concern basis which assume5 that the Charity will continue to operate. The validity of this assumption is dependent upon the continuance of support from the Charity's keygrant funder (Arts Council England) and in response to the progress made by the Charity in pursuing a viable budget including the obtaining of further grants and other funds. The Charity's current business plan shows that the Charity will be able to operate in the foreseeable future. Based on thi5 understanding, the trustees believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments, which would result from the basis of preparation being inappropriate. Funds Unrestricted funds are available to spend on activities that further any of the purpose5 of charity. Designated funds are unrestrirted 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 and grants subject to conditions imposed by the provider or by specific terms of the appeal under which the funds were raised. The restrictive conditions are binding upon the Charity. Income Income is recognised when the charlty has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met, it 15 probable that the income will be received and the amount can be measured reliably. Income relating to future periods, as a result of donor imposed conditions specifying the time period, has been treated as deferred income. Income dependent on certain conditions, amounting to more than mere administrative requirements, is recognised when the conditlons have been fulfilled. Donated services and facilities Donated professional setvices and donated facilities are recognised as income when the charity has control over the item. any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP FRS102. general volunteer time is not recognised. On reteipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the seNices or facilitie5 of equivalent economic benefit on the open market: a corresponding amount is then recognised in expenditure in the period of receipt. 12
West Midlands Reader5 Network CIO Financial Statements for the year ended 31 March 2025 Principal accounting policies {continued) Interest recelvable Bank interest is shown on the basis of amounts receivable in the year. Expendfture Liabilities are recogni5ed as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. Expenditure is classified under the following artivity headings: Costs of raising funds comprises the costs associated with raising income. Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support & governance costs. Cash and cash equlvalents Cash and cash equivalents include cash at bank and in hand and short-term deposit5 repayable on or wlthin a three month notice period. Oebtors 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. Credltors Creditors 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. Taxation As a registered charity no provision is considered necessary for taxation. Notes to the financial statements l. Incorne from donatlons and legacies 2025 2024 Grants - Art5 Council England 29,437 29.438 Total Income from donatlons and legacles 29.437 29,438 13
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Notes to the financial statements (continued) 2. Income from charitable artlvltles 2025 2024 Library Authority Annual subscriptions Ticket sales In-kind support- venues, resources, office space Total income from Charltable Artlvlties 3,025 2,084 6,748 11,857 3,300 1,744 6,513 11,557 3. Analysls of expenditure on ralsing fvnds 2025 2024 Website development, publicity & marketing cost5 2,425 2,212 Total cost of ra151ng funds 2,425 2,212 14
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Notes to the financial statements (continued)- 4. Analysis of expendlture on ¢harltable activlties 2025 2024 Artistic programme costs New Stories for Readers Reader in residence costs Reading & Poetry Spas Writers for Readers Developing & organizing people In-kind support- venues. resource5. office space Projert management General administration Bookkeeping Accountancyllndependent Examination Travel costs Sundry 10,309 3,779 7,425 3.694 1,760 4,283 3,185 3,089 6,513 2.660 4.455 1,140 650 iio 272 4,026 2,788 3,049 6,748 2.160 2.799 1,140 800 ioi Total 38,767 39,236 5. Trustee remuneratlon, expense5 & transaction5 The charity has no employees. The charity's trustees were not paid nor received any other benefits from the charity in the year or previous period. other than as detailed below. No Trustee expenses were reimbursed during the year or previous period. The key management personnel of the charity comprise the trustees. Trustees receive no remuneration or other benefits from the charity. Writers, fees for work carried out for the Charity of £200.70 were paid to Natalie Marlow ITrusteel during the year 12024.. £631.29). Such fees are in line with those paid to other writers, were agreed by fellow trustee5 and are authorised by the Charirfs Constitution. 15
West Midlands Readers Network CIO Financial Statements for the year ended 31 March 2025 Notes to the financial statements (continued) 6. Debtors 2025 2024 Trade debtors Accrued income Prepayments 290 2,693 2,944 2,983 7. Creditors.. amounts falllng due wlthin one year 2025 2024 Trade creditors Accruals 1,398 1,030 2,428 19 650 669 8. Controlllng Interests The charity is controlled by the Trustees. 16