FLORIS BOOKS TRUST LIMrrED
{A Company Limited by Guatsnteel
DIREcfoR'S REPORT
AND
FINANCIAL STATEMENTS
for the year ended 31 December 2024

FLORIS BOOKS TRUST LIMITED
Directors (Trustees)
Jane Grant
Peter Holman
Tom Ravetz
Lesley Taylor
Senior Management Team:
Katy Lockwood-Holmes- Chief Executive
Christian Maclean
Auditors
MHA
Chartered Accountants
6 St Colme Street
Edinburgh
EH3 6AD
Bankers
Bank of Scotland
8 Morningside Road
Edinburgh
EH104DD
Aldermore Bank
100 West Regent Street
Glasgow
GU2 2QD
Solicitors
Balfour & Manson
54-66 Frederick Street
Edinburgh
EH2 ILS
Re8lStered Office
22 Baylie Street
Stourbridge
West Midlands
DY8 IAZ
Principal OFFice
Canal Court
40 Craiglockhart Avenue
Edinburgh
EH14 ILT
Company Registration Number
02398655
Charity Commission Registration Number
801790
OSCR Registration Number
SCl)41837

FLORIS BOOKS TRUST LIMITED
DIREcfoRS' REPORT
The director5. who are also trustees for the purposes of charity law. submit their report and the audited
financial statements of the charitable company for the year ended 310ecember 2024.
Objertives and Activities
The principal activities of the charitable company are producing books relating to it5 charitable objectives
which are to propagate Christian principles, the ideas of anthroposophy, and wholesome spiritual and
ethical values for children for the benefit of the public anywhere in the world, and to advance the work of
The Christian Community in Great Britain.
To achieve these objettives, the books published are a balance between those relating directly to the aims,
and those which are in harmony with the aims. For some publications grants are sought either from
individuals, public bodies. or from other trusts.
How Our Actlvitles Deliver Public Benefit
The books relatin8 to the Christian religion and anthroposophy help give readers meaning and purpose in
their live5 and contribute to their spiritual well-bein& and provide a moral or ethical framework to live by.
The books for children help children to experience and adopt wholesome spiritual and ethical values which
offer meaning and purpose in their childhood and future adult life, ultimately contributing to their spiritual
well-being, and providing a moral or ethical ffamework to live by.
Promoting an understanding of the human being as a spiritual being contributes towards a better society
by promoting social cohesion and recognition of the worth of every individual.
The director5 have considered the Charity Commission's guidance on public benefit, including the guidance
on public benef it and fee charging. In settinE the prices of books the directors give careful consideration to
those on low incomes. and also give consideration to the lower cost of books in some foreign countries by
appropriate discounts to distributors and bookshops in those countries.
Achlevements & Performance
During the year. 38 {2023= 361 new books were published. including When Fragments Make a Whole, Spirit
of Community, Music Ther3py and Pathways from Pain to Meaning, which are of fundamental
importantance to the Christian Community or help propagate the ideas of anthroposophy; and Bumblebee
Garden and Blue Sky Mornin& which help propagate wholesome values for children.
2024 was a challenging year for trading. with sales quantities and values down in all our major markets,
including the US. For most of the year, the pound was stron& driving down the value of US dollar sales. A
surplus is a good achievement in these conditions.

FLORIS BOOKS TRUST LIMITED
DIREcfoRS' REPORT (Continued)
Flnanclal Revlew
The surplus for the year was £109,307 {2023: £82.749).
The charitable companrfs funds are raised through the sale of books and are used to fund further
publications of religious books. The directors continue to explore ways of directly targeting readers
including use of the internet and direct mail.
Reserves policy
The d1￿ctorS, reserves policy is to retain sufficient funds within the ch3ritable company for working capital
together with a contingency to cover either unexpected expenditure or the cash flow problems a change in
market conditions would produce. The direttors have therefore established a poliry whereby the
unrestricted funds not designated or invested in tangible fixed assets {"the free reserves") held by the
charitable company should be between 12 and 15 months of resources expended in addition to the costs of
investing in new premlses and staff as part of the expansion of the charitable company's activities. The
directors have adopted a prudent approach to the related risks of that expansion.
Total reserves at 31 December 2024 were £2.487,336 {2023.' £2.378,029). The unrestricted fund5 less those
invested in tangible f ixed assets 1.the free reserve5"1 were £2,482.09312023-. £2.366.7631 which represents
aiound 13.3 months of the normal annual expenditure of the charitable company. The directors regularly
review the level of free reserves and are satisf￿d that the present level is acceptable.
Plans for Future Period5
Trading in QI of 2025 is alx)ve 2024 levels. despite difficult international circumstances. including US tariffs.
The board is confident that the healthy level of reserves will enable the organisation to continue to trade
past the current challenges.
Structure, Governance, Management
Governing Document
Floris Books Trust Limited is a chafFtable company limited by guarantee. The charitable company was
established under a Memorandum of Association which established the objects and powers of the
charitable company and is governed under its Articles of Association. Each member has undertaken to
contribute an amount not exceeding £1 to the assets of the company in the event of its being wound up. As
3t 31 December 2024 there were 33 members12023'. 331.
Recruitment ond appointment of dirertors (trnsteesj
The current directors of the charitable company. and those in office throughout the year. are listed on page
l. The directors. defined as Trustees in the Articles of Association, are all members of the charitable
company. Under the requirement5 of the Memorandum and Articles of Association one third of the
directors retire each year, and are eligible for re-election. at the AGM.

FLORIS BOOKS TRUST LIMITED
DIREcfoRS' REPORT (Contlnued)
Structure. Governance. Management Icontinuedl
Orgunisotion & structure
The directors meet once a year. while the finance committee made up of Lesley Taylor, Jane Grant,
Christian Maclean and Katy Lockwood-Holmes aim to meet quarter￿. The day to day operation5 of the
charitable company are the responsibility of Katy Lockwood-Holmes as delegated by the board of directors.
Director induction and training
All directors appointed are already familiar with the practical work of the charitable company and their
responsibilities as directors of the company. and as trustees of the charitable company. They all have the
main documents of the charitable company including the Memorandum and Articles of Association, and
receive regular accounts and papers on the financial situation of the company.
Key monogement personnel
The Board consider that they, together with the Chief Executive and Editor comprise the key management
personnel. The directors give their tirne free￿ and the pay and remuneration of the key management
personnel is set by the Finance Group and is kept under annual review.
Risk monogement
The directors continue to assess the major risks to which the charitable company is exposed. in particular
those related to operations and finance, and are satisfied that systems are in place to mitigate the
charitable company's exposure to those risks.
The main risks thatthe dirertors have identrfied and plans to manage these risks are:
general downturn in sales
bad debt of major customer
Related parties and co-operotion with other organisations
Katy Lockwood-Holmes is a director of Scottish Book Source Limited during the year. Scottish Book Source
is one of Floris Books Trust Limited main distributors of publications and considered to be a key
organisation with which it co-operates in pursuit of its charitable objecttves.

FLORIS BOOKS TRusf LIMITED
DIRECTORS, REPORT (Continued)
Dlrectorf Responsibility Statement
The directors {who are also trustees of Floris Books Trust Limited for the purpose of charlty lawl are
responsible for preparing the Directorfs Report and the financial statements in accordance wtth applicable
law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financial year which give a
true and fair view of the state of affairs of the charitable company and of the incoming resources and
application of resources. including the income and expenditure. of the charitable company for the year. In
preparing these fin3ncial statements. the directors are required to-
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP 2019 IFRS 102}-
makejudgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material
differences disclosed and exp13ined in the financial statements: and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charitable company will continue in operation.
The directors are responsible for keeping adequate accounting records which disclose with reasonable
accuracy at any time the financial position of the charitable company and to enable them to ensure that the
financial statements comply with the Companies Act 2006, the Charities and Trustee Investment IScotland}
Act 2C￿5. the Charities Act 2011 and the Chartties Accounts IScot13nd} Regulations 2006 las amended).
They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the directors are aware:
there is no relevant audit information of which the charitable company's auditor 15 unaware,. and
the directors have taken all relevant steps that they ought to have taken in order to make themselves
aware of any relevant audit information and to establish that the auditor is aware of that information.
This report has been prepared in accordance with the special provisions of Part 15 of the Companles Act
2006 relating to small companies.
By Order of the Board
Katy Lockwood-Holmes
Company Secretary
19 May 2025

INDEPENDENT AUDITORS. REPORT TO THE OIREcfoRS AND MEMBERS OF FLORIS BOOKS TRUST UMITED
Oplnion
We have audited the financial statements of Floris Books Trust Limited 1.the charitable company") for the
vear ended 31 December 2024 which comprise the Statement of Financial Activities (including Income and
Expenditure Accountl, the Balance Sheet, the Statement of Ca5hflow5 and the related note5. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
AccountinE Standards including FRS 102 Yhe Financial Reporting Standard applicable in the UK and
Republic of Ireland. {Untted Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable companws affairs as at 31 December 2024,
and of its incoming resources and application of resources, including its income and expenditure,
forthe year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practi￿. and
have been prepared in accordance with the requirement5 of the Companies Att 2006, the Charities
and Trustee Investment {Scotlandl Act 2005. the Charitie5 Act 2011 and regulation 8 of the
Charities Accounts (Scotland) Regulat￿n5 2006 {3s arnendedl.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the
fin3nci31 statements in the UK. including the FRCS Ethical Standard. and we have fulfilled 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.
Concluslons relatlng to golng concern
In audtting the financial 5tatement5. we have Concluded that the directors. use of the going concern basis of
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 conditions that,
individually or collectively, may cast signrficant doubt on the charitable company's ability to continue as a
going concern for a period of at least twelve months from when the financlal ststements are authorised for
issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in
the relevant sertions of this report.
Other Inforrnatlon
The other information comprises the information included in the directors. report, other than the financial
statements and our auditorfs report thereon. The directors are responsible for the other infomiation
contained within the directors 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. 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 otheTrv￿e appears to be materially misstated. If we
identify such material inconsistencies or apparent material mi55tatements. we are required to deterrnine
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.

INDEPENDENT AUDITORS, REPORT TO THE OIRECTORS AND MEMBERS OF FLORIS 800KS TRUST LIMITED
(Continued)
Opinlons <>n other matters pwescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit-
the information given in the directors. report for the financial year for which the financial
statements are prepared is consistent with the financial statements; and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identified material misstatements in the directors, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006,
the Charitie5 and Trustees Investment (Scotlandl Att 2005, the Charities Act 2011 and the Charrties
Accounts1Scotlandl Regulations 2006 las amended) requires us to report to you if, in our opinion=
adequate accounting records have not been kept: or
the financial statements are not in agreement with the accounting records and returns- or
we have not receNed all the information and explanations we require for our audit. or
the directors were not entitled to prepare the financial 5taternents in accordance with the small
companies regime and take advantage of the small companies. exemptions in preparing the
directors, report and lake advantage of the small companies exemption from the requirements to
prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors, responsibilities statement, the directors (who are also the trustees
of the charitable company for the purposes of charity lawl 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 directors 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 directors are responsible for assessing the charitable companvs
ability to continue as a 80in8 concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the directors either intend to liquidate the charitable companv
or to Cease operations, or have no realistic alternatNe but to do so.
Audltor's responsibilitses for the audit of the financial statements
We have been appointed as auditor under section 44111(c} of the Charities and Trustee Investment
(Scotlandl Act 2005. the Charities Act 2011 and under the Companies Act 2006 and report in accordance
with the Att5 and relevant regulations made or having effectthereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that
includes our opinion. Reasonable a55ur3nce is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS {UKI 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 a88re8ate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.

INDEPENDENT AUDITORS. REPORT TO THE DIRECTORS AND MEMBERS OF FLORIS BOOKS TRUST LIMITED
(Continued)
Audltorfs responslbilitle5 for the audlt of the financlal statements Icontlnued)
Irregtslarities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilrties, outline above. to detect material misstatements in respect of
irregularities, includin8 fraud. The specific procedures for this engagement and the extent to which these
are capable of detectinE irregularities. including fraud is detailed below:
Enquiry of management and those charged with governance around actual and potential litigation
and claims-
Enquiry of charity management and those charged with governance to tdentify any instances of
non-compliance with laws and regulation5'
Performing audit work over the risk of management override of controls, including the testing of
journal entries and other adjustments for 3ppropfiateness. evaluating the rationale of significant
tiansactions outside the normal course of the charitWs activities and reviewing accounting
estimates for bias:
Reviewing minutes of meetings of those charged with governance;
Reviewing financial statement disclosures and testing lo supporting documentation to asse5S
compliance with applicable laws and regulations.
Because of the inherent limitations of an audit. there is a risk that we will not delect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be les5 likely to become aware of
instances of non-compliance. The risk is also greater re8ardin8 irregularities occurring due to fraud rather
than error, as fraud invofves intentional concealment. forgery. collusion. omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's webstte.. www.frc.or
auditorsres
onsibilities. Thi5 description form5 part
of our auditorfs report.
Use of our report
This report Is made solely to the charitable compan(s members. as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2￿6 and to the charitable companrfs directors, as a body. in accordance with
section 44111 Icl of the Charities and Trustee Investment (Scotlandl Act 2005. the Charities Act 2011 and
Regulation 10 of the Charities Accounts IScotland} Regulations 2006 las amended). Our audit work has
been undertaken so that we might State to the charitable company's members and its directors those
matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the company, the
company's members as a body. and its dlrectors as a body for our audit work, for this report, or for the
opinions we have formed.
Paul Marshall (Senlor Statutory Audltor)
For and on behalfof MHA, Statutory Auditor
6 St Colme Street
Edinburgh
EH3 6A0
19 May 2025
MHA 15 the trading name of MHA Audit Services ILP, o limited liobility Partnership in Englond ond
Woles (registered number OC455542J ond is eligible to oct as an auditor in terms of section 1212 of the
Companies Act 2006.

FLORIS BOOKS TRUST LIMITED
STATEMENT OF FINANaAL AcfMTIES
{Incorporatln8 Income and Expendlture Acc¢)unt)
for the year ended 31 De￿mber 2024
Total
Funds
2024
Total
Funds
2023
Unrestricted Restricted
Funds
Funds
Notes
Income from:
Charitable activities
Donations and legacies
Other trading activrties
Investments
2,311,180
3,551
8,281
2,319,461
3,551
3.000
18.093
2,362,274
3,551
2,500
11,050
18,093
Total Income
2,335.824
8,281
2,344,105
2,379,375
Expendlture on:
Charitable activities
12.226.517)
18.2811 12,234,798) {2,296,6261
Total expendlture
12,226,517}
18,2811 12.234.798) 12.296,626}
Net income and movement in fvnds
109.307
109,307
82,749
Reconciliation of funds:
Total funds brought forward
2,378,029
2.378.029
2.295.280
Totsl funds carried forward
17
2,487,336
2,487,336
2,378.029
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure is derived from continuing operations.
io

FLORIS BOOKS TRUST LIMITED
8AiANCE SHEET
at 31 December 2024
Notes
2024
2023
Flxed Assets
Tangible assets
Investments
li
12
5,243
11,266
5,000
10,243
16.266
Current Assets
Stocks
Debtors
Cash at bank and in hand
13
14
725,512
761,218
1,537,926
733,883
775,291
1,367,362
3,024,656 2,876,536
Liabilities
Creditors.. Arnounts falling due wthin one year
15
{516,8871 {484,0971
Net Current Assets
2.507,769
2,392,439
Total assets less current liabilities
2,518,012
2,408,705
Provlsions for liabilities
16
(30,6761
{30.676}
Net Assets
2,487,336 2.378,029
The funds of the tharity:
General Funds - unrestricted
Designated Funds
Restricted Funds
17
17
17
2,487,336 2.378,029
2.487.336 2.378,029
These financial statements have been prepared in accordance with the spectal provisions of Part 15 of the
Companies Act 2(K16 relating to small companies and constitute the annual accounts required by the
Companies Act 2006 and are for circulation to members of the charitable company.
These financial statements were approved and authorised for issue by the directors on 19 May 2025 and
are signed on their behalf by:
Lesley Taylor
Director
Company Registration Number: 02398655
li

FLORIS BOOKS TRUST LIMITED
RECONCILIATION OF NET INCOME TO CASH FLOW FROM OPERATING AcfiviTIES
for the year ended 31 Decembew 2024
2024
2023
Net Incomelor the reporting period (os per the SOFA)
109,307
82.749
Adjustments for:
Depreciation
Interest from investments
Decrease in stocks
Oecrease in debtors
Increase in creditors
6,690
118,0931
8.371
14,073
32.790
6.623
111,050}
183.666
91.011
18.734
Net cash provlded by opemtlng artlbrftles
153,138
371,733
STATEMENT OF CASH FLOWS
for the year ended 31 December 2024
2024
2023
Cash flows from operatlng actlvltles:
Net cosh provided by operoting ortNities
Cash flows from Investln8 actfvltles:
Interest from investments
Purchase of tangible fixed assets
153,138
371.733
18.093
{667}
11,050
Net cashflowprovided by investing octivities
17.426
11,050
Chonge In cash and cush equlvolents In the yeor
170.564
382,783
Cash and cash equivalents at the beginning of the year
1.367.362
984,579
Cash and cash equivalents at the end of the year
1,537.926
1,367,362
12

FLORIS BOOKS TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024
Accounting policies
The charitable comp3n¢s principal accounting policies are summarised below. The accounting
policies have been applied conslstently throughout the period.
Company stotus
Floris Books Trust is a charitable company limited by guarantee. incorporated in England. The
address of the registered office is given in the charity information on page l of these financial
statements.
b)
Basis of accounting
The financial statements h3ve been prepared in accordance wtth Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts
in accordance wtth the Finantial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 1021 issued in October 2019. the Financial Reporting Standard applicabbe in the United
Kingdom and Republic of Ireland IFRS 102), the Charities Accounts (Scotlandl Regulations 2006
{as amended). the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted
Practice.
Floris Books Trust Limited Meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are Initial￿ recognised at historical cost or transaction value unless stated in the
relevant accounting policy note.
Based on the charitable company's business plans and the related expected financial outcomes.
the directors deem It appropriate to prepare the financial statements on the going concern basis
which assumes that the charitable company will continue in operational existen￿ for the
foreseeable future.
Income recognition
Income is recognised when the charttable company is entitled to the income, any performance
conditions attached have been met. it Is probable that the income will be received and the
amount can be quantrfied with reasonable accuracy.
Income from 8rants and donations. including government grants. is recognised when the
charitable company has entitlement to the funds, any performance conditions attached to the
grant or donation have been met. it is probable that the incorne will be received and the amount
can be meaSu￿d reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for
income recognition are met.
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charitable tompanyi this is normally upon notification of the interest paid or
payable by the Bank.
13

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMEMfs (Continued)
for the year ended 31 De￿rnbel Z024
Accounting policies Icontinued)
dl
Expenditure
Expenditure is recogni5ed once there is a legal or constructive obl￿atIon to make a payrnent to a
third party, it bs probable that settlement will be required and the amount of the obligation can
measured reliably. Expendrture is accounted for on an accruals basis and includes any
irrecoverable VAT.
Charitable expendtture comprises those costs incurred by the charitable company in the delivery
of rts activities and seNices. It includes both costs which can be allocated directly to such
activities and those costs of an indirect nature necessary to support them. Governance costs
include those costs associated with meeting the constitutional and statutory requirements of the
charitable company and include the audit fees and costs linked to the strategic management of
the charitable company.
All costs are allocated between the expenditure categories of the Statement of Financial
Activities on a basis designed to reflect the use of the resource. Costs relating to a particular
activity are allocated directly, while others are apportioned on an appropriate basis as set out in
notes 6-8.
Tangiblefixed assets
All assets costing more than £l,OIJO are capitalised.
Depreciation is provided on 311 tangible fixed assets at rates calculated to wrtte off the cost, less
estimated residual value, of each a55ets even￿ over its expected useful lrfe a5 follows=
Tenants improvements
Fixtures and fittings
- over the term of the lease
- over 4 years
fl
Investments
The investment is viewed as a programme related investment held to further the charitable
objectives and its fair value is deemed to relate to tts cost.
gl
Stocks
Finished goods and work in progress have been valued at the lower of cost and net realisable
value. Provision is made for obsolete. slow moving and defective stock with the cost of a new
publication written off evenly over 50 month5.
h) Debtors
Trade debtors are recogni5ed at settlement amount due after any discounts offered.
Prepayments are valued at the amount prepaid net of any discounts due.
Cush at bt7nk t7nd in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a Short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
14

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
for the year ended 310ecember 20Z4
Accounting pollcles (contlnued)
Creditors and provisions
Creditors and provisions are recognised where the charbtable company 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. Creditors and
provisions are normalty recognised at their settlement date after 3llowin8 for any discounts due.
kl
Financiol instruments
The charitable comp3ny only has financi31355ets and financial liabilities of a kind that qualify as
basic financial instruments. Basic financial instruments are initially recognised at transaction
value and subsequently measured attheir Settlement value.
Foreign exchange
Assets and liabilities denoted in foreign currencies are translated into sterling at the rate
applicable to the balance sheet date. Exchange gains or losses are taken to the Statement of
Financial Activities.
ml Pension5
The charftable company operates a defined contribution pension scheme hekl personally bv
stsff. Contributions are charged to the Statement of Financial ActNities as they become payable.
Open7ting lease5
Rental charges are charged on a straight-line basis over the term of the lease.
Fund occounting
Unrestricted funds are available for use at the discretion of the directors in fvrtherance of the
general objectives of the charitable company. Restricted funds are to be used for specrfic
purposes as laid down by the donor.
pl Taxation
Floris Books Trust Limited has been accorded charitable status for tax purposes. For the year
ended 31 December 2024 it is considered the companrfs activities were within the scope of the
charitable status and accordingly no provision for taxation is necessary.
15

FLORIS BOOKSTRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS Icontlnued)
for the year ended 31 December 2024
Charltable actl¥ltles
2024
2023
Books and incidental sales income
Grants
2,311,180
8,281
2,346,798
15,476
2,319,461
2.362.274
The income from charitable activities was £2.319.46112023= £2,362.2741 of which £2,311,180
was unrestricted12023: £2.346.7981 and £8.281 was restricted12023: £15.4761.
Llonations and legacies
2024
2023
Contribution received from landlord for Tenant's improvements
3,551
3,551
Income from donations and legacies was unrestricted in both the current and prior year.
Other trading artivities
2024
2023
Consulting income
3,000
2.500
Income from other trading activities was unrestricted in both the current and prior year.
Investment Income
2024
2023
Interest re￿iVed
18.093
11,050
Income from investments Wa5 unrestricted in both the current and prioryear.
16

FLORIS BOOKS TRusf LIMrrEO
NOTES TO THE FINANCIAL STATEMENTS (Continued)
for the year ended 31 December 2024
Analysis of expenditure on charitable activitles
2024
2023
Cost of books sold
Distribution and advertising
Travel and book fairs
Trade subscriptions
Carbon offset scheme
Foreign exchange gain
Donations and grants
Support costs Isee note 7)
Governance costs {see note 81
911.600
527,658
11.417
1,896
15,523
182,1091
20.OIXJ
811.178
17.635
1,004,908
538.487
10.377
1.842
14.986
136.0991
10,000
734.893
17,232
2,234.798
2,296.626
Expenditure on charitable activities was £2,234,798 (2023: £2.296.626} of which £2,226,517
was unrestricted12023: £2.281,1501 and £8.281 wa5 restricted12023.. £15.4761.
Support u)sts
2024
2023
Salaries and consultancy
Postage and stationery
Depreciation
Property expenses and insurances
Legal and professional fees
Sundry expenses
713,199
11,314
6.690
71.493
2.629
5,853
645.709
8.683
6.623
65,768
2,480
5.630
811.178
734,893
Governance costs
2024
2023
Audit and accounting fees
Salaries and consultancy
7.715
9.920
7,345
9,887
17,635
17.232
17

FLORIS BOOKS TRUST UMITED
NOTES TO THE FINANCIAL STATEMEP4TS (Continued)
for the year ended 31 December 2024
Net income for the year
2024
2023
Stoted ofter charging/(creditiTng).'
Depreciation of fixed assets
Auditors, remuneration
Operatine lease payments
Foreign exchange {gainl
6.690
6.623
7.715
7,345
13.571
11,579
182.109) 136,0991
10 Employee information
2024
2023
Staff costs during the yet7ramounted to."
Wages and salaries
Social security costs
Employer pension costs
642.530
48,902
31,687
723.119
575,996
42.741
28,484
647,221
8,375
Other staff costs
723.119
655,596
The average monthty number of employees on a FTE basis, excluding directors, during the year
was 1912023: 171.
The total amount of employee benefits receNed by key management personnel is £72,92912023:
£80,084). The key management personnel comprise the Chief Executive and Editor12023: Chief
Executive and Editor).
No employees recerved emoluments in excess of £60,0(Ki in either the current or prior year.
No travel expenses were reimbursed to any directors during the year12023'. £Nill.
18

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
for the year ended 31 December 2024
11 Tangible fixed assets
Tenants
Improvements
Fixtures
& Fittings
Total
Cost
At l January 2024
Additions
Disposa15
30.676
10.370
667
14221
41,046
667
14221
At 31 December 2024
30.676
10,615
41,291
Depreclotlon
At l January 2024
Charge for the year
Released on disposal
20.410
6.123
9,370
567
(422)
29,780
6.690
14221
At 31 December 2024
26,533
9,515
36,048
Net Book Value
At 31 December 2024
4.143
1.100
5,243
At 310ecember 2023
10.266
11,266
12
Investments
5,(KIO ordinary shares of £1 each are held in Scottish Book SouTce. Scottish Book sour￿ are
contracted to act as agents and book distributors for the company. These are reported at cost in the
financial statements at £5,OCKI12023: £5,OC(I).
13 Stocks
2024
2023
Work in progress
Publications for resale
166,976
558.536
126,051
607,832
725,512
733.883
19

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMEfffi (Continued)
at 31 December 2024
14 Debtors
2024
2023
Trade debtors
Other debtors
699.621
61.597
712,453
62,838
761,218
775,291
15 Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Accruals
Deferred income
Other creditors
491,949
12,551
466.491
10.584
942
6,080
12.387
516,887
484,097
DeAerredlncome 2024
Balar
l January
2024
Balance
31 December
2024
Deferred i
ve3r
Released in
year
Bologna Children's 8ook Festival grant
1942)
942
1942)
The above amounts were released as the Bologna Children's Book FestNal took place in 2024.
Defrrred Income 2023
Balance
l January
2023
Balance
31 December
2023
Deferred in
year
Released in
year
Bologna Children's Book Festival 8r3nt
942
942
942
942
The above amounts were deferred on the basis that these were to be carried over for the purpose of
the Bologna Children's Book Festival due to take place in 2024.
20

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Contlnued)
at 31 December 2024
16 Provisions for liabilities
2024
2023
Oilapidation charge
30.676
30.676
The provision for dilapidation is in respect of ensuring the leased office premises are returned to their
original condition and will come into effect on the termination of the lease.
17 Funds
2024
Balance at
l January
2024
Balance at
31 December
2024
Income
Expenditure
Transfers
Unrestricted funds".
Generol
2.378.029
2.335,824 {2.226.517)
2,487,336
Restricted funds:
Book publicotion grants
Christian Community
Other
4,339
3,942
14.3391
13.9421
8,281
(8.2811
Totsl funds
2,378,029
2,344.105 12.234.798)
2,487,336
Funds
2023
Balance at
l January
2023
Balance at
31 December
2023
Income
Expenditure
Transfer5
Unrestrirted funds:
Generol
Designated
Carbon footprint offset charge
2.280.280
2.363.899 12,266.1641
14
2.378,029
15,000
114.9861
1141
2.295,280
2.363.899 12,281,150)
2,378,029
Restrfrted funds:
Book publicotion grants
Christian Community
Other
13,276
2.200
{13,2761
{2.200)
IS,476
115.476)
Totsl funds
2,295.280
2.379.375 12.296,626)
2.378,029
21

FLORIS BOOKS TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS {Continued)
at 31 December 2024
17 Funds (¢ontlnued)
Restrictedfunds
Book publication grants
This fund represents grants received in the year for the publication of specific book title5.
19 Analysis of net funds
Unrestricted
Restricted
Total
Fixed assets
Net current assets
Provisions for liabilities
10.243
2.S07.769
130,6761
10,243
2.507,769
{30,6761
Net assets at 31 December 2024
2,487.336
2,487,336
Fixed assets
Net Current assets
Provision5 for liabilities
16.266
2.392,439
(30.676)
16,266
2,392,439
130,676)
Net assets at 31 December 2023
2.378,029
2,378,029
20 Flnanclal commltments
At the year end the charitable company had rninimum fvture commf(ment under non￿ancelIable
operatlng leases as follows:
2024
Buildings
2023
Buildings
Not later than one year
Between two and five years
24,347
35,508
24,347
24,347
59,855
22

FLORIS BOOKS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Contlnued)
at 31 December 2024
21 Analysis of change5 in net fvnds
At l January Cash flows At 31 December
2024
2024
Cash at bank and in hand
1,367,362
170,564
1,537,926
22 Related partles
During the year the charitable company paid charges relating to the distribution of publications
amounting to £185,899 {2023: £188.2581 to Scottish Book Source Limited. a company in which K
Lockwood-Holmes is a director. Income was also received by the charitable company of £1.094,727
12023.. £1,134,918) from the sale of publications by Scottish Book Source Limited, and £3.00012023'.
£2,5Crf)I for consultancy fees provided. There was bad debt write offs of £1,478 {2023= £Nill during the
year and there was a balance of £269.04912023: £271,394) due from Scottish Book Source Limited to
Floris Book5 at 31 December 2024.
Total donations of £20,(KrfJ {2023: £10,000) were also made in the year to the Christian Cornrnunity
International and Christian Communrty Great Britain. organisations which are part of The Christian
Community Trustees Limited. of which C Maclean is a diiector. Of this amount donations of £10,000
12023-. £10,000} were in connection with the Christian Community Book Fund. There was a balance of
£IO.000 outstanding at the year*nd12023- £Nill.
A fee of £56 {2023: £Nill was paid to Edinburgh Steiner School Trust Limited in the year. a company in
which C Maclean 15 a director.
23