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← The Friends Of The British Library

2025-06-30-accounts

Charity registration number: 328095

THE FRIENDS OF THE BRITISH LIBRARY

COUNCIL MEMBERS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

THE FRIENDS OF THE BRITISH LIBRARY

CONTENTS
Page
Charity Reference and Administrative Details 1 1
Council Members' Annual Report 2 3
ies Statement
Trustees’ Responsibilit		 4 4
Independent Auditor's Report 5 - 8 5 - 8 5 - 8
Statement of Financial Activities 9 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Financial Statements 12 20

THE FRIENDS OF THE BRITISH LIBRARY

CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2025

Council Members

Dame Marina Warner, Chair Stephanie Kenna Revd Keith Stephenson FCMA, Treasurer Dr Geoffrey West, Secretary Dr Christopher Wright OBE, Deputy Chair

Charity registered number

328095

Registered office

96 Euston Road London NW1 2DB

Independent Auditor

Annie Lee Affinia Statutory Auditor 1 Westfield Avenue London E20 1HZ

Banker

The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP

Solicitors

Russell-Cooke 2 Putney Hill London SW15 6AB

Page 1

THE FRIENDS OF THE BRITISH LIBRARY

FOR THE YEAR ENDED 30 JUNE 2025

The Council members are pleased to submit the thirtieth annual report and the financial statements of Friends of the British Library for the year ended 30 June 2025. The Council members confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and 'Accounting and Reporting by Cha rities: Statement of Recommended Practice’ applicable to charities preparing accounts in the UK and Republic of Ireland (FRS102) as updated through Update Bulletins 1 and 2, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2022, and UK Generally Accepted Practice.

Structure, governance and management

The Friends of the British Library is an unincorporated association and a registered Charity operating under a written constitution adopted on 12 January 1989 and last revised on 19 March 2018. Council members are Trustees of the Charity for the purposes of charity law.

Trustee appointment and recruitment

The Council consists of five members. Trustees are recruited and appointed by existing Trustees considering the balance of Trustee experience required and seeking interest from former British Library staff or current Members.

The Friends of the British Library has a close working relationship with the British Library and the British Library Collections Trust.

Objectives and activities

In the year reported the purpose of Friends of the British Library, as per its Constitution, was to further the education of the public by promotion, support, assistance and improvement of the British Library. This was achieved through the payment of grants to the British Library Collections Trust to allow the improvement of the collection or to assist with the exhibitions, activities or events held by the British Library.

Achievements

In the year reported Friends of the British Library made grants totalling £1,651,056 to the British Library Collections Trust compared to £65,000 in the previous year (all unrestricted).

Financial review

Total income for the year was £1,639,388 compared with £77,691 the previous year. Although the Friends membership activity and any active fundraising has ceased, the Charity benefits from legacies.

the Trust.

Total resources expended were £1,660,160 compared with £68,156 the previous year. If grants are excluded, costs totalled £9,104 compared with £3,156 the previous year. The increase comes with the requirement to have an accounts audit instead of an independent examination as in the previous year. Costs continue to be tightly controlled.

Operating net expenditure was £20,772 (2024: net income £9,535).

Net current assets at the end of the year were £3,053 (all unrestricted) compared with £23,825 at 30 June 2024.

Plans for future periods

The Council is focused on transferring any further assets that arise to the British Library Collections Trust.

Page 2

THE FRIENDS OF THE BRITISH LIBRARY

COUNCIL MEMBERS’ ANNUAL REPORT (CONT INUED) FOR THE YEAR ENDED 30 JUNE 2025

Reserves policy

At 30 June 2025, reserves held were £3,053. The reserves are considered sufficient as the Friends of the British Library exists simply to collect legacies and donations and then use them to make grants to the British Library Collections Trust.

The year under Review

The trustees focused on transferring assets to the British Library Collections Trust.

Public Benefit

The Council members confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The public benefit of the Charity's activities are outlined under 'Objectives and Activities' above.

18th March This report was approved and authorised for issue by the Council members on 2026 and signed on their behalf by:

Dame Marina Warner Chairman

Page 3

THE FRIENDS OF THE BRITISH LIBRARY

Trustees' responsibilities statement

accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time 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 trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

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THE FRIENDS OF THE BRITISH LIBRARY

DS OF THE BRITISH LIBRARY

FOR THE YEAR ENDED 30 JUNE 2025

Opinion

30 June 2025 which comprise statement of financial activities and balance sheet and cash flow statement, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or going concern for a period of at least 12 months from when the financial statements are authorized for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Matters

The comparative results in the financial statements for the year ended 30 June 2024 were not subject to an audit.

Other information

The other information comprises the information included in the council members annual report, other than the contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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THE FRIENDS OF THE BRITISH LIBRARY

THE TRUSTEES OF THE FRIENDS OF THE BRITISH LIBRARY FOR THE YEAR ENDED 30 JUNE 2025

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing t as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

We have been appointed as auditor under Section 144 Charities Act 2022 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

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THE FRIENDS OF THE BRITISH LIBRARY

FOR THE YEAR ENDED 30 JUNE 2025

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the suscepti obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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THE FRIENDS OF THE BRITISH LIBRARY

FOR THE YEAR ENDED 30 JUNE 2025

A further description of our responsibilities for the audit of the financial statements is located on the Financial www.frc.org.uk/auditorsresponsibilities.

The friends of the British Library is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Use of our report

, as a body, in accordance with charities act. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in we do not accept or or for the opinions we have formed.

Annie Lee

Senior Statutory Auditor

For and on behalf of Affinia (Statutory Auditor)

1 Westfield Avenue London E20 1HZ

18th March 2026

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THE FRIENDS OF THE BRITISH LIBRARY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Note
INCOME FROM:
Donations and legacies
2
TOTAL INCOME
EXPENDITURE ON:
Charitable activities
3
TOTAL EXPENDITURE
NET (EXPENDITURE) / INCOME
NET MOVEMENT IN FUNDS

RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
Restricted
funds
2025
£
2025
£
1,639,388
-
1,639,388
-
1,660,160
-
1,660,160
-
(20,772)
-
(20,772)
-
23,825
-
3,053
-		 Total
funds
Total
funds
2025
£
2024
£
1,639,388
77,691
1,639,388
77,691
1,660,160 68,156
1,660,160
68,156
(20,772)
9,535
(20,772)
9,535
23,825
14,290
3,053
23,825

All income and expenditure derive from continuing activities. Current and prior year funds all relate to unrestricted funds.

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 20 form part of these financial statements.

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THE FRIENDS OF THE BRITISH LIBRARY

BALANCE SHEET AS AT 30 JUNE 2025

Note
CURRENT ASSETS
Cash at bank and in hand
Debtors
8
CREDITORS:amounts falling due within
one year
9
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
10
Restricted funds
10
TOTAL FUNDS		 £
9,938
163,171		 2025
£

3,053		 £
26,597
-		 2024
£

23,825
173,109
(170,056)		 26,597
(2,772)
3,053 23,825
3,053
-
3,053		 23,825
-
23,825

The financial statements were approved by the Council Members on their behalf, by:

18th March

2026 and signed on

................................................ ................................................ Dame Marina Warner, Chair Revd Keith Stephenson, Treasurer

The notes on pages 12 to 20 form part of these financial statements.

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THE FRIENDS OF THE BRITISH LIBRARY

CASH FLOW STATEMENT AS AT 30 JUNE 2025

2025 2024
Note £ £
Cash flow from operating
activities		 13 -16,659 -160,213
Interestpaid
Net cash flow from operating
activities		 -16,659
-160,213
Net increase / (decrease) in
cash and cash equivalents		 -16,659
-160,213
Cash and cash equivalents at
start date 2024		 26,597
186,810
Cash and cash equivalents at
end date 2025		 9,938
26,597
Cash and cash equivalents
consists of:
Cash at bank and in hand 9,938 26,597
Cash and cash equivalents at
end date 2025

The notes on pages 12 to 20 form part of these financial statements.

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.1 General information and basis of preparation

The Friends of the British Library is an unincorporated Charity and is registered with the Charity Commission (Charity Registered Number 328095) in England and Wales. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the C Annual Report.

The Charity constitutes a public benefit entity as defined by FRS 102. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: 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) The accounts (financial statements) have been prepared to gi

This departure has involved following 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).

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Going concern

The Council Members have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The Council Members have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing these financial statements.

1.3 Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.4 Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the Charity however it is not possible to measure reliably the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

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

1.5 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the Charity.

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

1.6 Support costs allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity and include the oversight of grantmaking activities carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources. Governance costs are those incurred in connection with the running of the Charity and compliance with constitutional and statutory requirements.

The analysis of these costs are included in Notes 5 and 6.

1.7 Debtors and creditors receivable / payable within one year

Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event and the settlement is expected to result in an outflow of economic benefits.

1.8 Tax

The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it is able to take advantage of applicable Charity tax exemptions for UK corporation tax purposes.

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FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

1.9 Financial instruments

The Charity does not have a material holding in complex financial instruments. The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:

Cash at bank is classified as a basic financial instrument and is measured at face value.

Liabilities grants accrued, accruals, bank loans and overdrafts, and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 8.

1.10 Judgements and key sources of estimation uncertainty

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

The Charity is a going concern, as explained in Note 1.2

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

2. INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Total 2025		 Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
2025
£
2025
£
2025
£
2024
£
217
-
217
106
1,639,171
-
1,639,171
77,585
1,639,388
-
1,639,388
77,691

3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Support for the British
Library through the British
Library Collections Trust		 Grant
funding of
activities
Support
costs
Total
Total
2025
£
2025
£
2025
£
2024
£
1,651,056
9,104
1,660,160
68,156

Grant funding of activities is analysed in Note 4. Support costs are analysed in Note 5. All funds are unrestricted.

4. GRANTS TO INSTITUTIONS


British Library Collections Trust
Total		 2025
£
2024
£
1,651,056
65,000
-
1,651,056
65,000

All funds are unrestricited.

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. SUPPORT COSTS


Insurance
Bank charges
Governance costs

Total

Governance costs are analysed in Note 6.
GOVERNANCE COSTS

Legal fees
Audit Independent Examination

Total
 2025
£

104
-
9,000

0000,
9,104

2025
£

-
9,000

0000,
9,000
 2024
£
102
-
3,054
0000,
3,156
2024
£
282
2,772
0000,
3,054

6. GOVERNANCE COSTS

7. STAFF COSTS AND EMPLOYEE BENEFITS

The Council Members neither received nor waived any remuneration during the year (2024: £Nil). During the year, no Council Members received any benefits in kind (2024: £Nil).

The total amount of employee benefits received by Key Management Personnel is £Nil (2024: £Nil). The Charity considers its Key Management Personnel to comprise of the Council Members.

The Council Members did not have any expenses reimbursed during the year (2024: £Nil).

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

8. DEBTORS:

==> picture [438 x 188] intentionally omitted <==

----- Start of picture text -----
2025 2024
£ £
Other debtors 163,171 -
-
163,171
CREDITORS: Amounts falling due within one year
2025 2024
£ £
Accruals 9,000 2,772
Grant commitments 161,056 -
170,056 2,772
----- End of picture text -----

9. CREDITORS: Amounts falling due within one year

10 FUND RECONCILIATION

STATEMENT OF FUNDS - CURRENT YEAR

Balance at
Balance at 1 Balance at 1 Transfers 30 June
July 2024 Income Expenditure in/out 2025
£ £ £ £ £
General funds
General Funds 23,825 1,639,388 (1,660,160) - 3,053
Total Unrestricted funds 23 825 1,639,388 (1,660,160) - 3,053
Restricted funds
- - - - -
Total Restricted funds - - - - -
Total funds 23 825 1,639,388 (1,660,160) - 3,053

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

STATEMENT OF FUNDS PRIOR YEAR

Balance at
Balance at 1 Transfers 30 June
July 2023 Income Expenditure in/out 2024
£ £ £ £ £
General funds
General Funds 14,290 77,691 (68,156) - 23,825
Total Unrestricted funds 14,290 77,691 (68,156) - 23 825
Restricted funds
- - - - -
Total Restricted funds - - - - -
Total funds 14,290 77,691 (68,156) - 23 825

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
Current assets 173,109 - 173,109
Creditors due within one year (170,056) - (170,056)
3,053 - 3,053
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Current assets 26,597 - 26,597
Creditors due within one year (2,772) - (2,772)
23,825 - 23,825

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

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THE FRIENDS OF THE BRITISH LIBRARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

12. RELATED PARTY TRANSACTIONS

All the C harity’s Trustees are also Trustees of the British Library Collections Trust ~~.~~ The Charity passes its funds periodically to the British Library Collections Trust. In the year to 30 June 2025 the Friends made grants of £1,651,056 to the British Library Collections Trust (2024: £65,000).

13. RECONCILIATION OF NET EXPENDITURE/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025 2024
£ £
Net income / (expenditure) for year / period - 20,772
-		 9,535
(Increase) / decrease in debtors - 163,171
-
Increase / (decrease) in creditors 167,284 - 169,748
-
Net cash flow from operating activities - 16,659
-		 - - 160,213
-

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