**Charity registration number 282018** ## **DESIGNER BOOKBINDERS** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **DESIGNER BOOKBINDERS** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|A James|| |---|---|---| ||K Maki|| ||R Ward-Sale|| ||R Beadsmoore|| ||N Davies|| ||T Moore|| ||A Kitcherside|| ||E Mercedes|| ||S Brockman|(Appointed 29 April 2023)| |**Charity number**|282018|| |**Independent examiner**|Kendall Wadley LLP|| ||Granta Lodge|| ||71 Graham Road|| ||Malvern|| ||Worcestershire|| ||WR14 2JS|| ## **DESIGNER BOOKBINDERS** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 16| ## **DESIGNER BOOKBINDERS** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The Trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The Society is devoted to the preservation and improvement of the art, design and craft of contemporary bookbinding through the encouragement, exercise and maintenance of standards, and the promotion of public interest in the art, design and craft of contemporary bookbinding. ## _Public benefit_ The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** Activities: The Society published its annual edition of ‘The New Bookbinder’ journal which has subscribers around the world. Each quarter a newsletter (2 printed and 2 electronic) with news, illustrated articles on bookbinding, and course and training information, was sent to all members. DB E-Bulletins to members continued to post regular news and information. The Designer Bookbinders website was used for workshop bookings and for publication sales. The website and social media were used to publicise to the general public news, events, and courses. Exhibitions: ‘GHI’ an exhibition of DB Fellow and Licentiate Bindings, at Maggs Bros in Central London and online, continued until 13 January 2023. The DB International Competition 2022 Exhibition completed its tour at the University of Edinburgh Library in February 2023. An exhibition ‘Stones: Ten Bindings’ of sculptural bindings by former DB Fellow Faith Shannon MBE was the first in a series of exhibitions to be held in partnership with the Crafts Council at the Crafts Council Gallery. An exhibition of Associate members’ bindings of Philip Smith’s “The Book: Art and Object” (donated to DB by Philip’s son) was displayed at the spring AGM and Spring Meeting, alongside a suppliers’ fair and an illustrated talk by Susie Leiper and Susan Hufton (Fellows of the Society of Scribes and Illuminators). The DBUK Competition 2023 prize-giving and exhibition of entrants’ bindings were held at Maggs Bros in central London. The Competition is generously supported by the Folio Society who provided books in sheets of ‘Love Poems’ edited by Imtiaz Dharker. International Booker Prize 2023: six DB Fellows bound copies of the short-listed books. The bindings were exhibited and presented to the authors at the awards ceremony in October. DB had a stand selling publications and a display of Fellows and Licentiate bindings at the Fine Press Book Fair Oxford in December. Fellow James Brockman was awarded the MBE for Services to Bookbinding in King Charles’ 2023 birthday honours. Former Licentiate, Hannah Brown, was awarded Fellowship of DB in February 2023. - 1 - ## **DESIGNER BOOKBINDERS** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## Education: In February one new applicant was elected to the Licentiateship Scheme. With generous funding from the Clothworkers Foundation DB was able to award bursary funding to each of the six Licentiates in 2023 to support course and mentoring costs. Six DB/SoB Joint Workshops (for all levels) were held during the year and one Masterclass (for advanced learners). Bursaries of £100 were awarded to enable binders to attend. A talk and binding workshop for the Folio Society and introductory workshops at Edinburgh University Library also took place during 2023. Transferring Design: this project has a brief to promote bookbinding and bookbinding tuition to graphic design students, with the ultimate aim of increasing the number of students taking up the craft and entering the profession. The Printing Charity have provided generous support and funding. During 2023 DB Fellows taught TD sessions at Lincoln College of Art, Bath Spa University, and Glasgow School of Art to over 300 students and also taught sessions to college staff. Fellows also provided tuition in bookbinding and gold finishing for conservators and bookbinding students at West Dean College. ## **Financial review** The deficit on our activities was £8,508 (2022 - £18,101, as restated), which was split £12,893 deficit to the general fund and £4,385 surplus to the restricted fund. Details of an adjustment made to the prior year figures can be found in note 19 of the accounts. The total funds of the charity at the balance sheet date amounted to £38,446, which is made up of unrestricted funds of £28,475 and restricted funds of £9,971. ## _Going concern_ The Trustees are satisfied that the Charity is viable as a going concern in the foreseeable future. ## Budgetary Control: The executive committee normally meets four times a year and at each meeting the Treasurer gives a full management report. All projects have their own budget, which is closely monitored and then the actual expenditure is analysed after the project is at an end. Any interim requests for expenditure are not sanctioned without the agreement of both the Treasurer and the Executive Committee via email. ## _Reserves policy_ The charity has no set policy on reserves although unallocated reserves equivalent to one year's subscription income is deemed prudent, which the charity is currently working towards. The Clothworkers’ Company annual donation is restricted for Licentiate funding, non-Licentiate bursaries, and tuition at West Dean College. The Printworkers annual donation is restricted for the Transferring Design teaching project. ## **Structure, governance and management** The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Designer Bookbinders is a registered charitable trust (number 282018), and is constituted by the trust deed 3 May 1969 (amended 24 April 1999, 6 January 2017). The Executive Committee is responsible for the execution of the policy and activities of the Society. - 2 - DESIGNER BOOKBINDERS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trusteas who seryed during th• year and up lo the datè of SKJnature of the financial statements were: A James K Maki R WardSale R 88adsmoore N Davies Tmo L Capon A KittheTside E Mercedès S Brockman IResign•J 29 Awil 2023) IAppoin¢fjd 29 April 20231 Rec￿ltm￿nI and ap￿￿'ntMent oflrustses The Executive Committ88 shall be COMF￿￿1 of a Pr￿18nt aTrJ oigm olhgrs vtho SWI be a1o¢tsd from and by Fellows. Llcentiates and Associates of the Society fty a fv4o&year lenn ol trffi¢e and for addiUon81 lems withoul rgstriction. Excluding thè Presidenl. four ￿¥tS on the ExecutNo CommrtÈee shall be fillgd by Fellows of the Socioty and lour seats shall be filleil by Associat8s and l￿entISteS. with a minimum of on8 Assooate and one Licenliale, ond hyo othets from tho m8mb8rship indudiThJ Honorary Felkn¥s 8t the time of electm. Mambors of thg Exocubva Committéè arg doemed to th8 Tnjstees of the S(Kièty. Prbn¢lp•l addr•88 29 Windrush Cregcenl Malvern WR14 2XG The Trusts88' report Wa8 approved by tho Board of Trusteos. S Brockman Truste• 15 April 2024 ## **DESIGNER BOOKBINDERS** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DESIGNER BOOKBINDERS** I report to the Trustees on my examination of the financial statements of Designer Bookbinders (the charity) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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 financial statements to be reached. ## **Sarah Morley BA (hons) ACA Kendall Wadley LLP** Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated: 15 April 2024 - 4 - ## **DESIGNER BOOKBINDERS** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and
subscriptions
**3**
28,695
-
Charitable activities
**4**
44,092
24,950
Investments
**5**
622
-
**Total income**
73,409
24,950
**Expenditure on:**
Charitable activities
**6**
86,302
20,565
**Net income/(expenditure) and**
**movement in funds**
(12,893)
4,385
**Reconciliation of funds:**
Fund balances at 1 January
2023
41,368
5,586
**Fund balances at 31**
**December 2023**
28,475
9,971|**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2023**
**2022**
**2022**
**2022**
**As restated**
**As restated**
**£**
**£**
**£**
**£**
28,695
31,415
-
31,415
69,042
44,830
9,500
54,330
622
84
-
84
98,359
76,329
9,500
85,829
106,867
96,310
7,620
103,930
(8,508)
(19,981)
1,880
(18,101)
46,954
61,349
3,706
65,055
38,446
41,368
5,586
46,954| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - DESIGNER BOOKBINDERS BALANCE SHEEr ASAT31 DECEMBER 2023 2023 2022 A¥ resLited N¢)tss FSxed assats Tangible assets 12 5.897 7.697 Curr¢nt assets Stock5 Debtors Cash 81 bank and in han(J 13 14 1,626 2,043 43,090 62,721 45.572 Credltors: amounts f*lllng du• wlthln ono year Is 13.023 26,407 Nst Current 8880ts 32.549 39.257 Total as••ts 108• currgnt Ilabllltlo• 46,954 Thè fund¥ of th• chartty Rest￿cted inrL)mo fvnds Unrèstricted funds 9.971 28,475 5.586 41,368 46,954 The finan¢lal statements were approvéd by thg Tn￿te•S ¢)n 15 2024 S Brockman Tru8t•• ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** Designer Bookbinders is a registered charity. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 20% straight line Website 20% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 8 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.10 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 9 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Income from donations and subscriptions** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Donations and gifts|10,038|11,745| |Membership fees|18,657|19,670| ||28,695|31,415| ## **4 Income from charitable activities** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Charitable activities (note||||||| |8)|44,092|24,950|69,042|44,830|9,500|54,330| ## **5 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Interest receivable|622|84| - 10 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Expenditure on charitable activities** |**Direct costs**
Charitable activities (note 8)
**Share of support and governance costs (see note 7)**
Support
Governance
**Analysis by fund**
Unrestricted funds
Restricted funds
**Support costs allocated to activities**
Depreciation of website
Disposal proceeds
Insurance
Postage & stationery
Secretarial & administration
Travel & meetings
Website
Bank charges
Rent
Sundries
Governance costs|**2023**
**£**
82,434
20,953
3,480
106,867
86,302
20,565
106,867
**2023**
**£**
1,800
(5,100)
2,810
4,129
13,836
2,474
1,500
1,218
(1,800)
86
3,480
24,433|**2022**
**£**
67,735
29,295
6,900| |---|---|---| |||103,930| |||96,310
7,620| |||103,930| |||**2022**
**£**
1,800
-
1,826
3,792
14,584
2,012
1,025
2,107
-
2,149
6,900| |||36,195| - **7 Support costs allocated to activities** Included within Governance costs is £3,480 payable to the independent examiner (2002 - £4,200). - 11 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **8 Analysis of Income and Expenditure from Activities** |**Analysis of Income and Expenditure from Activities**|||| |---|---|---|---| ||**Income**|**ExpensesSurplus/(Defic**|| ||||**it)**| ||**£**|**£**|**£**| |Antiquarian Booksellers Association|1,390|(1,311)|79| |Bookbinding Competition|5,132|(5,929)|(797)| |Booker Fellow Bindings|12,375|(11,775)|600| |Education|25,150|(21,088)|4,062| |Exhibition Costs|7,871|(3,680)|4,191| |International Bookbinding Competition|-|(12,375)|(12,375)| |Joint Workshop with Society of Bookbinders|6,573|(3,415)|3,158| |Newsletter|260|(4,169)|(3,909)| |The New Bookbinder|6,447|(18,397)|(11,950)| |Publications|3,844|(295)|3,549| ||**69,042**|**(82,434)**|**(13,392)**| |**Previous year (as restated):**|||| ||**Income**|**ExpensesSurplus/(Defic**|| ||||**it)**| ||**£**|**£**|**£**| |Antiquarian Booksellers Association|110|(525)|(415)| |Bookbinding Competition|507|(355)|152| |Booker Fellow Bindings|2,875|(4,119)|(1,244)| |Education|24,760|(22,284)|2,476| |Exhibition Costs|1,558|(318)|1,240| |Fundraising|380|-|380| |International Bookbinding Competition|7,361|(11,441)|(4,080)| |Joint Workshop with Society of Bookbinders|6,237|(5,155)|1,082| |Lectures|282|(200)|82| |London Craft Week|1,313|(549)|764| |Newsletter|107|(2,457)|(2,350)| |SOB Conference Stand|1,989|(944)|1,045| |The New Bookbinder|5,152|(19,388)|(14,236)| |Publications|1,699|-|1,699| ||**54,330**|**(67,735)**|**(13,405)**| ## **9 Trustees** Trustees expenses of £228 (2022 - £2,340) were paid, to 2 trustees, in respect of travel and meeting expenses in the year ended 31 December 2023. Additionally, the following fees and expenses were paid to trustees in the period in the furtherance of charitable activities and are a mixture between Fees & Honorarium, Education funding and tuition fees: - Richard Beadsmoore - £1,000 (honorarium for The New Bookbinder Editorial team) - Angela James - £975 (£600 tuition fees, £375 fees and expenses) - Amy Kitcherside - £2,445 (£2,345 from her licentiate bursary funding paid directly to tutors/courses, £100 Prize for DBUK competition) - Kaori Maki - £150 (The New Bookbinder author fee) - Rachel Ward-Sale - £2,372 (tuition fees and expenses) - Stuart Brockman - £11,309 (£8,509 reimbursement for International Competition organisation and tour costs, £900 tuition fees, £1,900 Booker binding fee) - 12 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **10 Employees** The charity had no employees (2022 - none). ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Tangible fixed assets** |**Plant and**
**equipment**
**£**
**Cost**
At 1 January 2023
11,837
Disposals
(11,340)
At 31 December 2023
497
**Depreciation and impairment**
At 1 January 2023
11,340
Depreciation charged in the year
-
Eliminated in respect of disposals
(11,340)
At 31 December 2023
-
**Carrying amount**
At 31 December 2023
497
At 31 December 2022
497
**13**
**Stocks**
Publications and medals
**14**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income|**Website**
**Total**
**£**
**£**
9,000
20,837
-
(11,340)
9,000
9,497
1,800
13,140
1,800
1,800
-
(11,340)
3,600
3,600
5,400
5,897
7,200
7,697
**2023**
**2022**
**£**
**£**
1,626
2,043
**2023**
**2022**
**£**
**£**
856
900| |---|---| - 13 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **15 Creditors: amounts falling due within one year** |Other creditors
Accruals and deferred income|**2023**
**2022**
**As restated**
**£**
**£**
1,897
6,500
11,126
19,907
13,023
26,407|**2023**
**2022**
**As restated**
**£**
**£**
1,897
6,500
11,126
19,907
13,023
26,407| |---|---|---| |||26,407| ## **16 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||**At 1 January**|**Incoming**|**Resources**|**At 31**| |---|---|---|---|---| ||**2023**|**resources**|**expended**|**December**| |||||**2023**| ||**£**|**£**|**£**|**£**| |The Clothworkers' Company|5,586|16,950|(14,642)|7,894| |Printing Charity|-|8,000|(5,923)|2,077| ||5,586|24,950|(20,565)|9,971| |**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**At 31**| ||**2022**|**resources**|**expended**|**December**| |||||**2022**| ||**£**|**£**|**£**|**£**| |The Clothworkers' Company|3,706|9,500|(7,620)|5,586| ## **17 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 January**|**Incoming**|**Resources**|**Transfers**|**At 31**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**||**December**| ||||||**2023**| ||**£**|**£**|**£**|**£**|**£**| |International Competition Fund|23,136|-|(12,375)|(10,761)|-| |General funds|18,232|73,409|(73,927)|10,761|28,475| ||41,368|73,409|(86,302)|-|28,475| - 14 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**17**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year (as restated):**|**At 1 January**|**Incoming**|**Resources**|**Transfers**|**At 31**| |||**2022**|**resources**|**expended**||**December**| |||||||**2022**| |||**£**|**£**|**£**|**£**|**£**| ||International Competition Fund|27,216|7,361|(11,441)|-|23,136| ||General funds|34,133|68,968|(84,869)|-|18,232| |||61,349|76,329|(96,310)|-|41,368| |**18**|**Analysis of net assets between**|**funds**||||| |||||**Unrestricted**|**Restricted**|**Total**| |||||**funds**|**funds**|| |||||**2023**|**2023**|**2023**| |||||**£**|**£**|**£**| ||**Fund balances at 31 December**|**2023 are represented by:**||||| ||Tangible assets|||5,897|-|5,897| ||Current assets/(liabilities)|||22,578|9,971|32,549| |||||28,475|9,971|38,446| |||||**Unrestricted**|**Restricted**|**Total**| |||||**funds**|**funds**|| |||||**2022**|**2022**|**2022**| |||||**£**|**£**|**£**| ||**Fund balances at 31 December**|**2022 are represented by:**||||| ||Tangible assets|||7,697|-|7,697| ||Current assets/(liabilities)|||33,671|5,586|39,257| |||||41,368|5,586|46,954| - 15 - ## **DESIGNER BOOKBINDERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **19 Prior period adjustment** ## **Changes to the balance sheet** |**Changes to the balance sheet**|||| |---|---|---|---| ||**At 31**|**December 2022**|| ||**As previously**|**Adjustment**|**As restated**| ||**reported**||| ||**£**|**£**|**£**| |**Creditors due within one year**|||| |Other creditors|12,500|13,907|26,407| |**The funds of the charity**|||| |Restricted funds|5,586|-|5,586| |Unrestricted funds|55,275|(13,907)|41,368| |**Fund balances**|60,861|(13,907)|46,954| |**Changes to the profit and loss account**|||| ||**Period ended 31 December**||**2022**| ||**As previously**|**Adjustment**|**As restated**| ||**reported**||| ||**£**|**£**|**£**| |Net movement in funds|(4,194)|(13,907)|(18,101)| An adjustment has been made to the prior year figures to recognise costs amounting to £13,907 in relation to the 2022 New Bookbinder journal. - 16 -