Return to flip book view

Report of the Trustees and Independently Examined Financial Statements for the year ended 31 August 2021 for Schoolreaders CIOwww.schoolreaders.org Registered Charity: 1159157 Schoolreaders 2021 Annual Report

Contents of the Annual Report For the year ended 31st August 2021Schoolreaders CIO for the year ended 31st August 2021Report of the Trustees1 - 28Report of the Independent Examiner29Statement of Financial Activities30 Comparative Statement of Financial Activities31Balance Sheet32Notes to the Financial Statements34 - 42All images © Schoolreaders/Shutterstock. Images may not be reproduced without permissionStatement of Cash Flows33

Report of the TrusteesReference and Administrative Details Registered Charity Number 1159157 Principal and Administration Office Bedford Heights Brickhill Drive Bedford MK41 7PH Trustees Jane Whitbread – Chair Steven Bryan - reappointed 12/8/21 Lucinda Copeman Alice Garnett - appointed 8/10/21 Rory Landman - appointed 12/2/21 S. Alexandra Moore - reappointed 17/10/21 Michael Scott - resigned 16/3/21 Shannan Stevenson - Vice Chair - reappointed 17/10/21 Independent Examiner C Airey FCCA of George Hay Partnership LLP Chartered Accountants Brigham House 93 High Street Biggleswade Bedfordshire SG18 0LD Governing document Charitable Incorporated Organisation (CIO) - Foundation Registered 11 November 2014 Bankers Barclays Bank 1 Stanhope Gate Mayfair London W1K 1AFSchoolreaders CIO for the year ended 31st August 20211

Schoolreaders has continued supporting children’s reading throughout this difficult pandemic year with its core one-to-one in-school volunteer reading support programme and new delivery models developed last year to make it adaptable to the changing education environment. The 8th year of operation for Schoolreaders started in the midst of the Covid-19 pandemic and its related impact on pupils, schools and the whole education landscape. The year has been beset with lockdowns, disrupted education, school closures, blended schooling and general uncertainty. Children have yo-yoed between home learning and being in school and often restricted into ‘bubbles’ to limit the spread of the virus. It has not been an easy year generally and especially for the education sector. We remain a vital additional resource, with over 10% of all primary schools across England registered with us, requesting our volunteers. With the continued disruption to school life, our adaptations of reading support provision which consist of a remote digital volunteering option and a Storytime video library have proved invaluable. They have ensured children could receive reading support, whether in school or at home, and have enabled schools to respond swiftly with immediate access to our reading support resources. Operations and performance Despite the challenges, it was a successful year. At year end, 3,700 children were receiving one-to-one weekly in-school support across 266 schools and we estimate that over 20,000 children benefitted from Storytime videos both at home and in school. This compares to the 12,700 children that were receiving one-to-one in-school support at the start of the pandemic. Where possible volunteers have been placed back into school for face-to-face support. Where not possible, our Storytime video library has been welcomed by many of our schools to support children in class and at home. Digital video one-to-one reading support has also been delivered remotely but the strong school preference has been for in-school volunteering. A great deal of time and effort were focused on maintaining communication with our partner schools and volunteers. This allowed volunteers to be deployed back into service as soon as they were able, and ensured that schools were supported as Chair’s Report Schoolreaders CIO for the year ended 31st August 20212Report of the Trustees - continued

efficiently as possible with the appropriate form of reading support for their often-changing situation. In addition, an extensive new volunteer recruitment drive was undertaken to ensure that we had a large resource ready to deploy into schools to help meet the enormous challenge of lost reading skills. During the year over 1,000 new volunteers had been recruited, assessed and matched to a school. Impact and outcomes Impact and outcomes research was once again undertaken at year end, in partnership with the Institute for Research in Education at the University of Bedfordshire. With results from over 200 partner schools and 1,000 volunteers we established that the demand for Schoolreaders’ volunteer reading help in schools has increased significantly. 89% of respondent schools stated the increased need and the average number of volunteers being requested by each partner school is now 5, versus 4 pre-pandemic. There is also a shift towards volunteers being deployed amongst more of the later primary year groups, demonstrating the loss of reading skills and the need for more reading catch-up. We saw the highest ever scores in our volunteers’ impact on children’s reading fluency (91%) and reading confidence (95%). The results also indicated that nearly half of the children supported by our Schoolreaders volunteers are disadvantaged, as categorised through public data. Disadvantaged children The greatest impact of Covid-19 on education, relevant to Schoolreaders, is the stark outcome of the increase in the disadvantage gap due to education disruption. Many disadvantaged children were further disadvantaged in home learning due to digital poverty and environmental factors. An Education Endowment Foundation study* found that the attainment gap between disadvantaged and non-disadvantaged pupils is now seven months for both reading and maths amongst Year 2 pupils. Pre-pandemic, there was already a crisis in children leaving primary school not reading properly, with 1 in 4 children not meeting the expected standard. Children unable to read properly when transitioning to secondary school cannot access their secondary schooling properly, which has life-long implications. Schoolreaders CIO for the year ended 31st August 20213Report of the Trustees - continued*Impact of School Closures and subsequent support strategies on attainment and socio-emotional wellbeing in Key Stage 1 – December 2021

Schoolreaders has always prioritised supporting disadvantaged children. This coming year there will be an even stronger shift and more focus on reaching these children. They urgently need additional support in learning to read - the gateway to future learning - to prevent the pandemic having a lifelong negative legacy. Resource Having tightened all belts and stopped staff recruitment for eighteen months we ended the year recruiting additional team members to meet our increased demands. We will be starting the new school year in a strong position, with an unprecedented need for our service and a stronger structure and corporate resource. We have retained all staff during the year and have made it a priority to monitor our staff and volunteer welfare throughout this challenging environment. Covid-19 could produce further disruption to education and our operation in the year ahead. There is still uncertainty, however we have systems and plans to identify challenges and opportunities and to respond quickly. Finance Income for the year was £544,873 (£505,883 in 2020) and expenditure was £364,573 (£309,716 in 2020). The income includes £35,000 of future funding commitments for 2021 and 2022. The surplus funds from this year result from a freeze on growth, negotiated temporary cost reduction and our funders’ continued commitment. This is enabling us to ramp up our service and reach more children as schools open. Free reserves represent 7.3 months of budgeted operating costs for 2021/22, which is in line with the reserves policy of 6 to 9 months. Thank you Schoolreaders improves literacy and access to learning for primary school children. Schoolreaders can only operate due to the partnership with its stakeholders who provide a variety of resources, be it time, expertise or funding. Thanks to these partnerships the operation can provide hope and continue changing the life opportunities of thousands of children. I would like to express deep gratitude to our funding partners. Many funders, be it individuals, grant makers or corporate partners, have increased support both in value and long-term commitment in response to the challenges of this pandemic year. Many of our funders have supported us for several years and we are truly thankful. This long-term support enables us to plan ahead with security and sustainability. Schoolreaders CIO for the year ended 31st August 20214Report of the Trustees - continued

Our staff team successfully adapted to a full year of working from home. It is likely that there will be some degree of hybrid working in the year ahead. Thank you to our adaptable, skilled and committed team of staff for all of their efforts this year in difficult circumstances. We are extremely fortunate to have so many dedicated volunteers at different levels of the organisation. This enables us to be extremely cost-effective. Our staff to volunteer ratio is 1:200. Our core volunteers - our Schoolreaders - who provide the reading support to children are the heart of the charity. Their time, commitment and care for what they do continually inspires. We are inundated with thanks from our partner schools for all that they do. I would also like to thank our management and governance volunteers. Again, we are extremely fortunate to have attracted expertise of the highest calibre in our board of trustees, county management teams and special advisors to help guide and steer the charity. Thank you to all of you for your generous giving of time, and for bringing your skills to bear to help us provide a ‘best in class’ service. The future There is an increased and enormous need for reading support for primary age children, particularly disadvantaged children. The proven, simple and scalable model of Schoolreaders has enabled the charity to address this challenge cost-effectively and with significant impact. The adaptations and variety of our reading support provisions means that we can support children’s reading, whatever the changing education landscape. The need for children’s reading support is with us for the long-term. Our 3-5 year plan includes growing the breadth and depth of our service provision to reach an even wider range of disadvantaged children. This need, plus the ongoing recruitment of significant numbers of new volunteers - on top of the existing bank of volunteers - means that Schoolreaders can step up to the challenge and provide thousands more children with vital reading support. With no significant new disruptions, I believe that our operating model and systems, and our responses to Covid-19 challenges over the past year, puts us in the position to reach our short-term target of providing 12,000 children with one-to-one weekly face-to-face reading support by the end of the new school year, and to raise £645,000 in order to achieve this. Schoolreaders CIO for the year ended 31st August 20215Report of the Trustees - continued

““During the previous lockdown, we found that the gap between some groups of pupils had widened, whether down to lack of access to technology or lack of confidence and the uncertainty of knowing how best to support children. Apart from rebuilding the emotional wellbeing of our pupils when schools reopen, our priority throughout the school is reading. We passionately believe that teaching children to read is one of our core purposes and reading culture links directly to children’s attainment. One element of this is developing a love of reading or ‘reading for pleasure’ and this is where the Schoolreaders volunteers come into their own.” - Partner SchoolSchoolreaders CIO for the year ended 31st August 20216Jane Whitbread Chair of Trustees March 2022Report of the Trustees - continuedSchoolreaders remains unique as the only literacy charity providing volunteer in-school reading support to primary schools across the nation, for free. One of our challenges is to grow the charity at a rate and scale that is sustainable and secure. We are confident that we have the governance, strategy, support and controls to make this happen.

The trustees present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions and exemptions of the second edition of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in October 2019. The reference and administrative details on page 1 form part of this report. Objectives and activities Our vision is that every child should be given the opportunity to learn to read well. Without reading skills, a child is denied the gateway to learning and life opportunities are diminished. Even before the disruption to education caused by the current pandemic, 1 in 4 children* were leaving primary school in England not reading to the expected level. This concerning statistic has worsened this year. Children who cannot read properly on entering secondary school cannot access their education properly and may be disadvantaged for life. One of the reasons behind the poor literacy of many primary aged children is the lack of opportunity for reading support at home, and also sometimes at school. For the past eight years, Schoolreaders has been placing volunteers into primary schools to listen to children read. Volunteers are assessed, interviewed and equipped for this role. The scheme is unique in being the only volunteer reading support scheme in primary schools operating across the nation that is free to schools. The service is free in order to ensure that reading support is available to all children. The scheme is proven to be simple, effective, cost-efficient, easy to roll out and scale-up. Over 10% of primary schools in England are registered with Schoolreaders. This year reading support for children is needed more than ever, due to the many children falling behind during school closures. Children who were already disadvantaged have been affected the most during school disruption and need reading catch-up support to prevent them falling even further behind. Last year, at the start of the pandemic, Schoolreaders swiftly adapted its reading support provision when face-to-face volunteering had to pause in order to continue providing children with reading support both at school and for the first time at home. This has been further developed with digital adaptations so that children can continue receiving support, whether in school or at home. Schools can have immediate access to this resource if they need to send home individual children/classes/the whole school. Schoolreaders CIO for the year ended 31st August 20217Report of the Trustees - continued*National curriculum assessments at Key Stage 2 in England, 2019 (provisional), www.gov.uk, updated 13th December 2019, Department for Education

Schoolreaders CIO for the year ended 31st August 20218Report of the Trustees - continuedSchoolreaders offers three forms of reading support: Face-to-face volunteering Volunteers listen to children read in school on a one-to-one basis every week. Volunteers are recruited from the local community for a minimum period of one year and are interviewed, assessed, equipped and placed in the local primary school where their help is most needed. Priority is given to providing volunteers in areas of disadvantage. The model is simple, cost-effective and free to schools. All primary schools can access this support and every child has the opportunity to benefit. All of our volunteers complete an application form and are then interviewed through a Safer Recruitment process, with expert consultants on hand for any advice. Our partner schools undertake an enhanced DBS check on each new volunteer. Safeguarding is our topmost priority and all new volunteers are required to comply with their school’s safeguarding process as well as undertaking the Schoolreaders supplementary safeguarding online course. The school provides the volunteer with appropriate guidance, training and safeguarding information relevant to the age and needs of the children that they will be helping. Our volunteers also have access to our online training resources which include: ‘best practice’ guidance in supporting children’s reading at Key Stage 1 and Key Stage 2 including additional resources such as phonics training.

Each school decides how to deploy their volunteers, which children will be supported, and the frequency and length of the reading support sessions, as every school has different needs. We continue to support both our school partners and volunteers as their partnership progresses. Everybody benefits from the Schoolreaders scheme: the children, the school, the volunteer, the community and ultimately society. Digital volunteering Following successful pilots over the summer, digital volunteering guidance was offered and rolled out as appropriate during the autumn of 2020. Volunteers continue to provide remote online reading support to children in schools as a back-up option to our face-to-face support when volunteers are unable physically to attend the school. The volunteer supports a child in school via video-link. Storytime Storytime was launched just over a year ago in order to provide widescale reading support to children who were either at home due to school closures or as an additional resource in school. It was extremely successful with over 20,000 children engaging in the year and is now an ongoing part of our reading support provision. Schools can access our video library of Schoolreaders volunteers reading popular children’s stories. The videos engage children ‘virtually’ and encourage reading and reading enjoyment. This is achieved with the kind permission of the publishers. The library also includes a section of subtitled stories that further help some children and are an aid for deaf children. Schoolreaders CIO for the year ended 31st August 20219Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202110Report of the Trustees - continuedAchievement and performance Schoolreaders volunteers were in great demand prior to the pandemic, helping to address poor literacy for many primary school children. This year, which has been a full year of ‘living with the pandemic‘ with all its associated disruption particularly on education and children’s learning, has resulted in an even greater need and demand for our service. In response there has been an increase in new volunteers offering their time to help children catch up on reading skills. It seems that there is a move, possibly resultant from the pandemic, that some individuals who had not considered volunteering before are now keen to donate their time and skills to help their communities. It has not been an easy year due to the frequently changing educational landscape, with schools having to close to all but the children of key workers and vulnerable children on two occasions. Whole class bubbles were also sent home to isolate to try and prevent spread of the virus, and there was high staff absence due to Covid. As a result, Schoolreaders has been in regular communication with all of our schools and volunteers to react and adapt our reading provision as necessary as the situation changed. This has been very time-consuming but worthwhile as we have retained the vast majority of our 1,270 volunteers who had been providing in-school support and we have more than 1,000 new volunteers matched and ready to start once the situation allows. As well as the school environment frequently changing, many of our volunteers’ situations were also fluid depending on their vaccination status and willingness physically to attend their school. Whilst this has taken a great deal more management and co-ordination than in previous years, it has been extremely valuable as we have ended the year supporting 3,700 children across 266 primary schools with in-school, face-to face support each week. We have also provided remote digital volunteering support as a back-up option where in-school volunteering was not possible. A further 20,000+ children benefitted from reading support via our Storytime video library. This is an exceptional achievement considering the circumstances and we are very proud to have been able to help so many children catch up on lost reading skills this year. Schoolreaders is in a strong position to scale-up and provide more children with the support they need to be able to read well and access their learning.

Schoolreaders CIO for the year ended 31st August 202111Key factsReport of the Trustees - continuedSchoolreaders volunteer support has been shown (as established pre-pandemic) to increase the reading age of 95% of the children that they support. 58% of the children improved their reading age by 3-6+ months and 37% by 1-3 months above the expected reading age improvement over the period supportedSchoolreaders School Survey 2021, conducted in partnership with the Institute for Research in Education at the University of Bedfordshire of schools registered 10%In many counties more than 25% of primary schools are registered with us, and in two counties over 50% of primary schools are registered with us children are supported with one-to-one weekly in-school reading support, plus an estimated 20,000 children are supported through our Storytime video library3,700Each school asks for volunteers on average 5An average participating school is now requesting more volunteers from Schoolreaders 25%99% of schools rated Storytime resource (adaptation to pandemic school closures) as good-excellent of our volunteers have previously worked in school as a headteacher/teacher/governor 31% of schools state that Schoolreaders volunteers are more needed than pre-pandemic89% of our volunteers felt they themselves had benefitted from being able to make a difference to the lives of others77%of Schoolreaders volunteers would recommend volunteering with Schoolreaders to someone else99%

Schoolreaders CIO for the year ended 31st August 202112Performance against 2020 objectivesReport of the Trustees - continuedObjectivePerformanceTo reach 15,000 children by August 2021We estimate over 24,000 children were supported across the reading provisions. Over 3,700 children received one-to-one weekly face-to-face support in school. (In addition more children were reached with the digital alternative when in school volunteering wasn’t possible). Over 20,000 children received Storytime reading support. Conduct a survey amongst our volunteers and schools to find out their individual needs, limitations and plans. This was completed in September 2020. Over 400 volunteers and over 100 schools completed the survey which provided us with the understanding of how to proceed in re-deploying our volunteers and which type of provision was suitable for each school. Keep in individual contact with our 1,290 Schoolreaders volunteers who had to pause their in-school volunteering due to Covid-19 and liaise with them and their school regarding a potential return to school. Communications with our paused volunteers was a priority. We continued to provide them with support through regular group and individual communications, including volunteer coffee mornings on Zoom which were very popular. We mediated between volunteers and schools to ensure returns to school were maximised. Keep in individual contact with our 686 primary schools that had in-school volunteers prior to Covid-19, in order to monitor their position regarding the return of their volunteers. Regular group and individual communications were undertaken with our schools. This was very time-consuming but necessary in order to respond as soon as possible with relevant reading support in each individual school's case. Communicate regularly with the further 900 primary schools who have requested our volunteers and undertake strategic volunteer recruitment around these schools. Regular communications were undertaken and a large number of these schools took up our Storytime video library offering.Undertake a large volunteer recruitment campaign in order to increase our 'bank' of ready and willing volunteers that are matched to schools and will be ready to start as soon as the situation allows. We recruited over 1,000 new volunteers who are matched to a school and ready to start. Many other new volunteers are in the process of being on-boarded.

Schoolreaders CIO for the year ended 31st August 202113Report of the Trustees - continuedObjectivePerformanceTo develop digital initiatives to complement in-school supportTwo digital initiatives were developed. Digital remote one-to-one volunteering where in-school volunteering was not possible. Storytime video library providing reading support to children both in school and at home. Further develop our digital volunteering scheme where volunteers at home listen to children read in school.This was offered to schools. In the cases where it was taken up, schools found it highly effective. In our end of year survey, however, 99% of school respondents valued face-to-face volunteering as their preference and as more effective.Develop the Schoolreaders Storytime Library with new video stories read by Schoolreaders volunteers and make them available to our 1,600 registered primary schools. These will be available for use both as an in-school resource and for children at home.Storytime was an enormous success this year with over 20,000 children benefitting from it in school and at home. It is the closest alternative to one-to-one physical support that we can provide to children at home. We received a multitude of thanks from schools and parents for the help that this provided. New stories read by Schoolreaders volunteers, as well as readings from authors and celebrities, were sent to all partner schools during school closures every week. We also partnered with the Theatre Royal Haymarket who organised video recordings of young actors reading a range of children’s books. In addition, to aid struggling readers and those with hearing problems, we created video stories with subtitles and a dedicated section on the portal. “Please can we share heartfelt thanks for the effort your volunteers made during the pandemic to keep stories alive through video. Our teaching staff have read our children stories via video daily, but we have also encouraged families to watch your team of amazing storytellers bring books to life. Allowing young children to tune into the voices of a range of people and hear the diversity of dialect and richness of language has been wonderful.”! -Schoolreaders Partner School Develop an online learning platform to complement the training that volunteers receive in school and further enhance their impact on the children they support.A new e-learning platform was launched in March 2021 to supplement training received in school. The first course on safeguarding, developed in conjunction with specialist advisors, has been well received. Further courses are in development to ensure the greatest impact of volunteers.

Schoolreaders CIO for the year ended 31st August 202114Report of the Trustees - continuedObjectivePerformanceTo increase management support as part of recovery plans and review long-term strategyBoth Trustees and Senior Management met more frequently and reviewed the fast-changing situation in schools, strategy and risks. The Trustees and senior management team will continue to meet more frequently than in pre Covid-19 times in order to monitor the situation and to help steer any adaptations necessary.The Trustees met at least bi-monthly.We will provide regular team-building on-line sessions to keep our staff and volunteer teams cohesive, focused and motivated.The operation was run with home working for the whole year, in line with government guidance. Our model enables this to work effectively, however once guidelines allow, we will return to the office, probably with some hybrid working. Staff well-being was a high priority and line managers monitored this closely. Where home situations were affected by the virus or school-closures we were able to offer some flexibility for staff to cope with this. We will revisit our strategic long-term planning in light of Covid-19 and ascertain future plans based on a number of back-to-school scenarios.Short- to medium-term planning has been a top priority this year due to the frequently changing situation. Strategies for different scenarios were drawn up. These will be used next year to review the 3-5 year corporate strategic plan. ObjectivePerformanceTo develop our fundraising strategy and ensure a financially sustainable modelA strategy was developed in order to be able to respond quickly to any scenarios negatively affecting funding e.g. fundraising events were unable to be held in person. Alternative funding plans were made such as our first digital fundraising campaign which was extremely successful. Income for the year exceeded budget and a number of new multi-year funding commitments were received, increasing sustainability. Table continues on following page

Schoolreaders CIO for the year ended 31st August 202115Report of the Trustees - continuedObjectivePerformanceTo collaborate with other organisations to ensure the greatest impact of our serviceSchoolreaders joined the Fair Education Alliance, which has members across all sectors of education, and attended webinars and their annual meeting and network events. In addition, meetings were regularly held with other stakeholders in the primary education sector.Liaise with other literacy charities and education-related bodies to ensure a joined-up response and combine resource where possible.Bimonthly group meetings were held with other literacy charities. This ensured sharing of information and best practice.Continue to carry out research into the impact of our service in partnership with the Institute of Research in Education at the University of Bedfordshire in order to develop the Schoolreaders model and inform future strategy.Our annual end of year survey with the Institute of Research in Education was conducted successfully with over 1,000 volunteer respondents and over 200 school respondents.ObjectivePerformanceTable continued from previous page Continue to operate on a very lean structure in order to minimise costs, limiting recruitment and growth plans for this year.The Schoolreaders simple model, lean structure and use of digital technology, meant that overheads and operating costs were kept to a bare minimum. In addition costs were cut through negotiation e.g. office rental.Review fundraising strategy in light of Covid-19 limitations on certain fundraising opportunities, such as online fundraising campaigns and donations.The strategy was reviewed to protect both this year’s income and future funding. Our first digital fundraising campaign - Race For Reading - took place. The campaign was extremely successful, attracting excellent corporate sponsorship, celebrity endorsement and raised over £40,000. Continue to build reserves in line with the new reserves policy which has been revised to ensure even greater resilience in the current unprecedented times. Free reserves were increased to 7.3 months of operating costs, in line with the reserves policy of 6-9 months.Maintain contact and keep our supporter base informed of the changing situation and our responses in order to keep supporting children's reading. Supporters were informed of our adaptations and any changes to our provision.

5,50011,00016,50022,000Aug '14Aug '15Aug '16Aug '17Aug '18Aug '19Mar '20Aug '20Aug '21Aug '213,63012,79010,5007,1002,9901,4807073177020,70021,500*In person, one-to-oneDigital, one-to-oneStorytime*at point of lockdown, and with schools closed for remainder of the yearIn-school, digital and Storytime support:Schoolreaders CIO for the year ended 31st August 202116Report of the Trustees - continuedImpact and outcomes Impact and outcomes are measured every year in partnership with the Institute for Research in Education in order to establish effectiveness of the provision and inform developments. The need for and success of the Schoolreaders model is demonstrated in the graph below, showing the number of children benefitting from reading support over the past eight years. Despite the difficulty in providing physical in-school support this year, the adaptations of our model last year, in response to the challenges of the pandemic, have enabled us to reach more than 24,000 children with reading support through a combination of in-school, digital and Schoolreaders Storytime provision.Number of children provided with reading support by SchoolreadersReading age improvement With respect to the impact of the Schoolreaders volunteers on specific reading performance, pre-pandemic research (reflected in the pie-chart on the following page) showed that 95% of children improved their reading age as a direct result of the Schoolreaders provision. 58% of children improved by 3-6+ months and 37% improved by 1-3 months over and above their expected improvement.

Schoolreaders CIO for the year ended 31st August 202117Report of the Trustees - continued5%37%58%of children improved their reading age by an additional 3 to 6+ monthsof children improved their reading age by an additional 1 to 3 monthsof children did not improve their reading age above what would be expected in the timeframe95%of children improved their reading age above what would be expected in the timeframeReading-age improvementOther reading performance indicators In addition to reading age, other key reading performance indicators were assessed. The highest ever scores for an improvement in reading fluency (91%) and reading confidence (95%) were recorded and high levels for reading enjoyment (87%). These can be seen in comparison to previous years in the graph below. % schools255075100Reading fluencyReading confidenceReading enjoyment 201820192021No data available for 2020

Schoolreaders CIO for the year ended 31st August 202118Report of the Trustees - continued% schools255075100Improved self-esteemImproved confidencePositive role modelsSocial skillsDeveloping relationshipsAdditional benefits In addition to reading improvement, schools report a number of significant secondary benefits to the children supported by a Schoolreaders volunteer such as improved self-esteem, confidence, social skills and relationship building. They also report the importance of our volunteers as role models. After this disrupted year, the stability of having an adult on a supportive one-to-one basis is proving even more valuable to many children than in previous years. The fact that the volunteer has chosen to support the child voluntarily is also reported as having a positive effect. State of Primary School Reading Survey 2021Additional benefits of Schoolreaders volunteers to childrenBenefits to volunteers Everyone wins in the Schoolreaders model: the children, schools, society generally and also our volunteers who report many personal benefits as a result of their volunteering. Respondents in our 2021 research reported that: 99% of volunteers would recommend becoming a Schoolreaders volunteer 77% report a positive outcome in being able to make a difference to the lives of others 47% felt an increased sense of wellbeing as a result of their volunteering 41% felt more part of their local community 89% rated their experience in school as good or excellent.

““The Schoolreaders Service has been invaluable in our school, and we have used it to help disadvantaged children, ensuring they have the opportunity to read outside of usual curriculum time. This has fed directly into improved ability with both reading and writing. The volunteers are well chosen and dedicated. The Schoolreaders schememakes a significant difference to the education of our children.- Partner School, Hertfordshire““During the pandemic it has been our experience that writing has been most negatively impacted. Writing progress is directly linked with the reading as you need to read to be able to write. This is because parents struggle to support children with the different writing elements especially in an inner city school where parents’ education is varied. In reading it's the fluency which has been negatively affected especially further down school as many children didn't read to adults in lockdown. We have also found that our disadvantaged children, who already have bigger gaps, have fallen further behind as they didn't engage in home learning. - Partner School, West YorkshireSchool quotesSchoolreaders CIO for the year ended 31st August 202119Report of the Trustees - continued““The [Schoolreaders] scheme is fantastic. For some children who lack positive role models out of school or a broad experience then the volunteers provide so much more than just the reading. Their support this year has been invaluable. - Partner School, Essex““We are desperate for any type of help. We would love in person however online would be greatly welcomed if that is all you can offer at the moment. We are a large school with children who are not always able to be heard to read at home as our EAL percentage is extremely high. - Partner School, London““The Schoolreaders volunteer we have is really high quality with a broad and deep level of education and experience. This is really useful for us as it increases the diversity of the volunteers and staff we use to support reading, and there are benefits to having this calibre of recruit in school in terms of exposing the older children to someone with a different but equally successful career path who isn't a teacher. ““Schoolreaders has been excellent and we are so grateful to them and the volunteers. They have really contributed to the reading within our school. We hope to further our positive and productive relationship with Schoolreaders into the future. We are more than happy to welcome more volunteers to our school especially given the lockdown and children's drop in reading ability. - Partner School, Dorset- Partner School, Norfolk

““I have loved the experience … They have been so welcoming and the children have been keen to come to the sessions. I have been able to see the improvement in some of the children's reading fluency, comprehension and confidence. I have been especially pleased that different children have been volunteering to come to the reading sessions as they have seen how their peers have enjoyed them. - Volunteer, Derbyshire““I was very keen to start this volunteering … However, I was not ready for the huge lift this role has given me. The children are so nice and so funny… I make sure I give loads of praise and help them in a timely manner - not too soon, encouraging them to 'sound out', but not leaving them to struggle. I am disabled and have had to retire 15 years early. I have found a role; I am useful once again.““I think the selected children benefitted with a bit of 1-to-1 time. They were able to talk about issues related to reading matter and they became more confident at discussing emotions and issues we discovered in the stories. Comprehension is a big thing. Most can rote read, but a few have no real understanding of the big picture. - Volunteer, Bedfordshire““It's a joy and privilege to be helping our young ones with the basic foundations of learning and to foster a love of books and reading. Hopefully, this will enable a wider achievement in learning too. Most of all it's lovely and rewarding to see the children gain confidence and have a go at some new words and so lose any fear of ‘getting it wrong’. I try and make it fun and relaxing. - Volunteer, Northamptonshire““My experience has all been positive, great help from the School and especially the class T.A. I think my experience with special education has helped as along with the class T.A. we have identified children who have struggled that bit more, enabling us to work closer with these children. - Volunteer, HertfordshireVolunteer quotesSchoolreaders CIO for the year ended 31st August 202120Report of the Trustees - continued““It is a joy to be part of the school and to feel the vitality of those little souls, who seem so pleased to see me each week. One of the six year olds I help has hearing difficulties and has to wear hearing aids, which she clearly is a bit self conscious about, however I too have hearing aids and when I simply pulled mine out to show her that I understood and despite a 70 year difference in age we shared the same problem, following which she was completely relaxed and really tried very hard. To be 'high-fived’ by her after one really good session was a simply unequalled pleasure. - Volunteer Northamptonshire““It has been wonderful - it is so rewarding to make an impact in such a small way on children's education but also their passion for learning and creativity. ““I was concerned when asking children to come out of class to read they would be stigmatised/ embarrassed or teased by other children. To my delight it has been received as a positive thing and children, not on my regular list, often ask if they can come and read to me. - Volunteer, Hampshire- Volunteer, Lincolnshire- Volunteer, Hampshire

Support from our donors and funders Individual donors: Trusts: Schoolreaders CIO for the year ended 31st August 202121Report of the Trustees - continued““Literacy is the key foundation stone of education for every child in the country and Schoolreaders are a superb charity that supports volunteers going into schools to help young children to read. The reason I like Schoolreaders particularly is that good schools have very much a community focused emphasis and Schoolreaders is one of those great community initiatives where members of the community can get involved in schools, help children to read and that in turn helps the life chances of all those children. - Individual Supporter““MK Community Foundation are proud to support a group that give young people the opportunity to learn and develop. This has become particularly important since the pandemic began. Schoolreaders help support issues that have come to our attention through our Vital Signs research around education and children’s mental health. Department for Education figures show that in 2020, more than 200,000 days of face-to-face teaching were missed in the autumn term alone, due to young people having to isolate or shield. Thank you to Schoolreaders for the amazing work you do. - Philanthropy Manager of a local community foundation““I am passionate about literacy, ever since I became aware that a cleaner in the NHS Trust where I worked could not read or write. Having recently read a book about the prison system, I was horrified by the high levels of illiteracy among offenders. I am so impressed by the work that you do, in such a cost-effective way. - Trustee of a charitable trust““I am proud to be a committed supporter of Schoolreaders. They make a huge difference to the lives of so many children. - Regular Donor““The ability to read is fundamental to a child's progress and understanding. We support Schoolreaders because this charity is providing children with the chance to improve their future prospects and increase their opportunities in life by learning to read. - Educational Trust

““Race for Reading was a great event and really well organised. It was fantastic to take part in something so fun that also raised money to directly help improve children’s literacy. - Maths Circle Ltd, Creators of Times Tables Rockstars and NumBotsCompanies:Schoolreaders CIO for the year ended 31st August 202122Report of the Trustees - continued““We were delighted to sponsor RACE FOR READING in 2021. Improving reading skills is key to bringing important social and economic benefits to the communities in which we own logistics buildings. As a partner to Schoolreaders charity, we have seen first-hand the extent to which they are playing an integral role in helping to achieve that, and improving the long-term prospects of many of the UK’s most disadvantaged children. - Colin Godfrey –!CEO, Fund Management, Tritax Big BoxWith thanks to: Funding from Su!olk Community Foundation Through - The Suffolk Coronavirus Community Fund - The Acorn Fund - The Birketts Fund The Leicestershire and Rutland Community Foundation Through - The Wesleyan Foundation - The Leicestershire FundThe National Lottery Community Fund Funding from the Coronavirus Community Support Fund, distributed by The National Lottery Community Fund, has helped us to support children’s reading. Thanks to the Government for making this possible.The Jack Lane Charitable Trust For work in North Wiltshire and South Gloucestershire Milton Keynes Community Foundation This work has been supported by funding from MK Community FoundationFunding from Essex Community Foundation Through the Chrysalis FundThe Linder FoundationThe Rank Foundation Covid19 Recovery Fund Heart of Bucks Community Foundation for Buckinghamshire The Worshipful Company of Grocers The Buffini Chao Foundation For LeicestershireThe J Reginald Corah Foundation Fund For Leicestershire and Rutland The Harpur Trust For Bedford BoroughTritax Big BoxMaths Circle Ltd Creators of Times Tables Rockstars and NumBots

Schoolreaders CIO for the year ended 31st August 202123Public benefit The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have complied with the Charities Act 2011 in determining the activities planned by the charity. 1. The objectives of the charity are clear: to advance education by providing and assisting the provision of literacy support in such ways as the charity trustees think fit, including the provision of volunteers to primary schools to listen to pupils read and encourage their reading skills. 2. All aims and activities undertaken are intended to further Schoolreaders’ charitable objectives. 3. The people who receive support are entitled to do so according to the criteria set out in the charity’s objectives. All of Schoolreaders’ work is focused on its target beneficiaries: children. Plans for 2021-2022 The significantly increased need for reading support for many primary school children who have now experienced eighteen months of disrupted education due to the pandemic provides Schoolreaders with the challenge to meet these needs in an effective and practical way. The disproportionate negative impact of disrupted education on children who were already disadvantaged, has resulted in a strategic focus towards providing our reading support to these doubly-disadvantaged children. Schoolreaders has always prioritised schools and children in disadvantaged areas. However, this focus is going to be more acute in the year ahead. New school invitations to join the scheme will be targeted at those schools with more than 25% of children on Free School Meals and in the most deprived areas. Volunteer recruitment will reflect this and concentrate on securing volunteers to support these most disadvantaged children. It is understood that this will involve more time and therefore cost per child, but this is where the greatest need lies. We intend to reach these children and support their reading before the legacy of Covid becomes a lifelong one. Objectives for the year ahead are as follows: To remain responsive to any variations in the education landscape caused by the pandemic, to ensure that reading support can continue to be delivered either in school, digitally or via Schoolreaders Storytime. •Monitor external factors that could impact primary school education. •Monitor changes in primary school education and adapt our provision if necessary. Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202124To retain safeguarding as a top priority of the organisation. •Safeguarding will remain as a fixed agenda item and be reported on at every senior management, trustee and education and safeguarding advisory group meeting. To provide 12,000 children with weekly one-to-one in-school reading support by August 2022 and prioritise the most disadvantaged children. •Implement a new focused deprivation strategy in order to prioritise those schools and children with greatest need. •Focus volunteer recruitment to supply volunteers to the targeted schools. •Devise further strategies to encourage key targeted schools to partner with the scheme. •Increase awareness of the Schoolreaders name, provision, position and value in the education charity sector. •Expand our volunteering resource. This should be assisted by the Covid related increase in the number of people volunteering to help their local community. •Continue to focus on volunteer and staff well-being. To maintain an effective, practical reading support provision. •Continue to develop operations systems and processes to further improve scheme efficiencies against targets. •Retain the three reading support provisions: face-to-face one-to-one reading support in school; one-to-one digital volunteering provided remotely to a child in school; and Schoolreaders Storytime. •Look for learning and partnerships. To ensure the continued impact and effectiveness of the provision. •Continue to carry out internal evaluation, surveys and research into the impact of our service in partnership with the Institute of Research in Education at the University of Bedfordshire, in order to further develop the Schoolreaders model and inform future strategy. •Seek new corporate partners that will increase our reach. •Liaise with other literacy charities and education-related bodies to ensure best practice, a joined-up response and combine resource where possible. To develop our fundraising strategy and ensure a financially sustainable model. •Explore new funding opportunities. •Seek to increase long-term funding commitments. •Carefully support and inform current funding partners. •Continue to build reserves to remain in line with the reserves policy. Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202125To increase the resourcing of the charity to meet the strategic plan and monitor the growth. •To appoint an additional position in the operations department to focus on volunteer and school recruitment. •To recruit two Senior Operations Co-ordinators. •To undertake an IT requirements audit with external expertise. •To appoint a Key Relationships Manager. To review long-term strategy •To review the 3-5 year strategic plan. •To develop individual strategic plans to cover different possible scenarios. Structure, governance and management Organisation structure The charity is governed by a board of trustees who normally meet quarterly and attend an annual strategic planning meeting with the senior management team. During this year, with the continued disruption to education and due to the fast-moving changes concerning the impact of Covid-19, trustees and senior management team met monthly. The trustees are responsible for ensuring that the charity is well-managed and operates in line with its objectives, the law and its budget. When necessary, the trustees seek advice and support from the charity's professional advisers. A trustee can hold office for a period of three years and may be re-appointed if they remain appropriately qualified for the role. There is a senior management team of five (including a trustee and supported by a consultant) who manage and run the charity on a daily basis including: operations, education, fundraising, volunteer management, marketing and PR, finance, design and IT. There are a number of specialist advisors and sub-committees supporting the operation. The charity is very volunteer weighted and benefits from volunteer support ranging from trustee and advisory roles to executive involvement, county-centric planning and operations, and of course our Schoolreaders volunteers, without whose commitment and time none of the operation would happen. Schoolreaders is registered with the Fundraising Regulator and follows their Fundraising Code of Practice. Our governance and compliance processes include the protection of personal data under GDPR regulations. We are extremely grateful for all of the support we receive and treat our donors with respect, being mindful never to put undue pressure on them during our interactions. We do not undertake any cold-calling fundraising. Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202126Key management personnel The board considers that the CEO and senior management team are in charge of directing and operating the charity on a day-to-day basis. Salary and remuneration of key personnel is reviewed annually in line with industry benchmarking. Recruitment and appointment of new Trustees The identification of potential new trustees is carried out by the board, the aim being to appoint those with the appropriate expertise and experience for the charity's work. New trustees are appointed in line with the Safer Recruitment process and are thoroughly briefed on the history of the charity, the responsibilities of the trustees, current objectives, future plans and the day-to-day management. Risk management The trustees have identified and assessed the principal risks to which the charity may be exposed and are satisfied that there are strategies and procedures in place to monitor and mitigate these risks as far as possible. A risk register and map is maintained, measuring the weight and likelihood of a risk occurring. In a normal year this is reviewed regularly by the senior management team and by the trustees. However, this year, during the pandemic, key risks have been reviewed on a regular basis at trustee and senior management level in order to respond to the fast-changing scenarios. Actions are taken where required to mitigate levels of risk. The principal risks that have been identified and assessed regularly are: •Governance and management – this considers risks associated with strategic direction, management and performance including the skills and training of the trustees. •Operational – this looks at the risks inherent in the charity's activities, including external factors, such as the impact of the pandemic on in-school volunteering and the recruitment and management of volunteers and schools. A priority in this area is the safeguarding of children. •Financial - this includes risks regarding budgetary control, fundraising, expenditure, cashflow and reserves. •Laws and regulations - this looks at the risks associated with compliance and non-compliance of internal and external laws and regulations, including government policies. •The impact of Covid-19. Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202127Financial review Financial summary There was a net increase in funds for the year of £180,300 (2020 £196,167). Income for the year was £544,873 (2020 £505,883). Total expenditure for the period was £364,573 (2020 £309,716). At the end of the financial year unrestricted reserves are £424,709 (2020 £329,348). Of these, free reserves are £385,836 (2020 £239,779). Donated services Schoolreaders has benefitted greatly from the kindness and generosity of many people and organisations who have given their time, expertise and wisdom across a variety of disciplines and areas of operation allowing the organisation to thrive. We are extremely grateful to each and every one. Our very high volunteer to staff ratio of 200:1 means that we are able to operate in a highly cost efficient manner with low overheads. The combined value of our volunteers’ time at every level of the organisation is inestimable. Reserves policy The trustees keep the reserves policy for the charity under review in light of its growth, future plans and financial risks. The reserves target set in 2020 is to maintain free reserves at between six and nine months’ average budgeted operating costs. These reserves include only realised unrestricted reserves and therefore exclude restricted or other designated funds or grants pledged but not yet received. Free reserves at 31st August 2021 were equivalent to just over seven months’ average operating costs for the forthcoming year. The decision to maintain our reserve requirements was agreed during the current uncertain times to ensure the charity has further resilience to navigate the unknown future economic landscape. Impact of Covid-19 The pandemic of Covid-19 has continued to have a significant impact on people, organisations and societies across the world. The trustees continue to carefully monitor the situation and follow the applicable guidance issued by the UK Government and considers the charity to be well-equipped to react to future economic uncertainty due to both diligent financial planning and a robust business model. The pandemic represents a condition existing at the balance-sheet date however the trustees continue to carefully consider the impact of this on the measurements of assets and liabilities in the financial statements and conclude that no adjustments are required. Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202128Statement of Trustees’ responsibilities The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to •select suitable accounting policies and then apply them consistently; •observe the methods and principles in the Charity SORP; •make judgements and estimates that are reasonable and prudent; •prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which 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 Charity (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 corporate and financial information included on the charity's website. On behalf of the Board: Jane Whitbread, Trustee 30th March 2022 Report of the Trustees - continued

Schoolreaders CIO for the year ended 31st August 202129Report of the Independent ExaminerI report on the accounts for the year ended 31!August 2021 set out on pages thirty to forty-two. Respective responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the Charities Act)) and that an independent examination is required. It is my responsibility to: •examine the accounts under Section 145 of the Charities Act •to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and •to state whether particular matters have come to my attention. Basis of the Independent Examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below. Independent Examiner's statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements •to keep accounting records in accordance with Section 130 of the Charities Act; and •to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. C Airey FCCA of George Hay Partnership LLP Chartered Accountants Brigham House, 93 High Street Biggleswade, Bedfordshire SG18 0LD Date:Signed:12th April 2022

Schoolreaders CIO for the year ended 31st August 202130Statement of Financial ActivitiesYear endedYear ended2021202120212020UnrestrictedRestrictedTotal FundsTotal FundsNote££££IncomeGrants & donations2181,607293,265474,872460,468Fundraising events248,09310,00058,09333,515Gift Aid28,880-8,8807,967Interest income43-43431Income from other trading activities31,770-1,770-Other income41,215-1,2153,502Total income241,608303,265544,873505,883ExpenditureRaising funds577,63732,406110,04388,422Charitable activities668,610185,920254,530221,294 Total expenditure146,247218,326364,573309,716Net income and net movement in funds for the year95,36184,939180,300196,167Reconciliation of FundsTotal funds brought forward329,34885,416414,764218,597Total funds carried forward424,709170,355595,064414,764For the year ended 31st August 2021

Schoolreaders CIO for the year ended 31st August 202131Comparative Statement of Financial ActivitiesFor the year ended 31st August 2020Year endedYear ended2020202020202019UnrestrictedRestrictedTotal FundsTotal FundsNote££££IncomeGrants & donations2315,005145,463460,468331,666Fundraising events233,515-33,5151,026Gift Aid27,967-7,9676,177Interest income431-431327Other income33,502-3,502-Total income360,420145,463505,883339,196ExpenditureRaising funds481,0307,39288,42254,255Charitable activities580,375140,919221,294210,546Total expenditure161,405148,311309,716264,801Net income and net movement in funds for the year199,015(2,848)196,16774,395Reconciliation of FundsTotal funds brought forward130,33388,264218,597144,202Total funds carried forward329,34885,416414,764218,597

Schoolreaders CIO for the year ended 31st August 202132Balance SheetAt 31st August 20212021202120212020UnrestrictedRestrictedTotal FundsTotal FundsNote££££Fixed assetsTangible fixed assets1111,401-11,4014,569Current assetsDebtors1232,15013,72045,870145,149Stock2,096-2,096-Cash at bank and in hand13388,143170,194558,337294,335422,389183,914606,303439,484CreditorsAmounts falling due within one year149,08113,55922,64029,289Net current assets413,308170,355583,663410,195Total assets less current liabilities424,709170,355595,064414,764Net assets424,709170,355595,064414,764FundsUnrestricted funds15424,709329,348Restricted funds15170,35585,416Total funds595,064414,764The financial statements were approved by the Board of Trustees on 30th March 2022 and were signed on its behalf by: Jane Whitbread, Trustee

Schoolreaders CIO for the year ended 31st August 202133Statement of Cash FlowsFor the year ended 31st August 202120212020Total FundsTotal FundsNote££Cash flows from operating activities:Net cash provided by (used in) operating activities13273,368142,064273,368142,064Cash flows from investing activities:Interest 43431Purchase of property, plant and equipment11(9,409)(3,398) (9,366)(2,967)Change in cash and cash equivalents in reporting period264,002139,097Cash and cash equivalents at the end of the reporting period558,337294,335

Schoolreaders CIO for the year ended 31st August 202134Notes to the Financial StatementsFor the year ended 31st August 20211. Accounting Policies Basis of preparation The financial statements have been prepared under the historical cost convention in accordance with the Statement of Recommended Practice. The charity meets the definition of a public benefit entity under FRS 102. Statement of compliance The financial statements have been prepared in accordance with 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) (second edition - October 2019) (effective 1 January 2019) – (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011). Going concern The accounts have been prepared on a going concern basis. The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern and have confidence that the current operating model and reserves level retained are sufficient to mitigate the potential impact of the continuing Covid-19 situation. Income All income, including grant income receivable in future accounting periods, is included on the Statement of Financial Activities when the charity is entitled to the income, it is probable that it will be received, and the amount can be quantified with reasonable accuracy. Expenditure and allocation and apportionment of costs Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Fundraising costs are those costs attributable to generating income for the charity. The costs of charitable activities comprise all costs incurred in the pursuit of the charitable objectives of the charity. Support costs are those costs which do not relate to a single activity and have been apportioned between fundraising costs and charitable activities on a basis consistent with the use of resources. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Schoolreaders CIO for the year ended 31st August 202135Notes to the Financial Statements - continuedFor the year ended 31st August 2021Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Tangible assets Tangible assets are initially recorded at cost (or donated value) and are subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures, fittings and equipment – 3 years straight line. Stock Stock is valued at the lower of cost and net realisable value. Debtors Debtors are recognised at their settlement amount, less any provisions for non-recoverability. Prepayments are valued at the amount prepaid. They are discounted to the present value of the future cash receipt where such discounting is material. Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Taxation The charity is exempt from corporation tax on its charitable activities. Liabilities & creditors Liabilities & creditors are recognised when the entity has an obligation to transfer economic benefits as a result of past transactions or events. Pension costs The Charity contributes to a defined pension contribution scheme for the benefit of its employees. Contributions are recognised in the financial statements when due.

Schoolreaders CIO for the year ended 31st August 202136Notes to the Financial Statements - continuedFor the year ended 31st August 2021Year ended Year ended 31.08.2131.08.20UnrestrictedRestrictedTotalTotalFundsFundsFundsFunds££££Grants129,264277,339406,603391,105Donations52,34315,92668,26969,363Grants and donations181,607293,265474,872460,468Fundraising events48,09310,00058,09333,515Gift Aid8,880-8,8807,967238,580303,265541,845501,9502. Voluntary incomeThe National Lottery Community Fund-20,00020,000-Jack Lane Charitable Trust-500500-Leicestershire Community Foundation-3,0003,000-Buffini Chao Foundation-5,0005,000-The Worshipful Company of Grocers5,000-5,000-Milton Keynes Community Foundation-1,5001,500-The Rank Foundation22,000-22,000-The Linder Foundation10,000-10,000-J Reginald Corah Foundation Fund-750750-Funding from Suffolk Community Foundation through :----- The Suffolk Coronavirus Community Fund-5,0005,000-- The Acorn Fund-5,0005,000-- The Birketts Fund-5,0005,000-Funding from Essex Community Foundation through the Chrysalis Fund-5,0005,0005,000Heart of Bucks Community Foundation-5,0005,000-Other92,264221,589313,853386,105129,264277,339406,603391,105Grants received and due, included in the above, are as follows:

Year ended 31.08.21Year ended 31.08.20UnrestrictedFundsRestricted FundsTotal FundsTotal Funds££££Sales of Christmas cards1,770-1,770-3. Income from other trading activitiesSchoolreaders CIO for the year ended 31st August 202137Notes to the Financial Statements - continuedFor the year ended 31st August 2021Year ended 31.08.21Year ended 31.08.20UnrestrictedFundsRestricted FundsTotal FundsTotal Funds££££Income received through Coronavirus Job Retention Scheme1,215-1,2153,5024. Other income5. Raising fundsYear ended 31.08.21Year ended 31.08.20UnrestrictedFundsRestricted FundsTotal FundsTotal Funds££££Preparation of funding applications and monitoring, events and other costs77,63732,406110,04388,422

7. Expenditure analysisRaising fundsSchoolreaders serviceSupportGovernanceTotal£££££Service delivery56,851133,63910,958-201,448Service management15,22938,385--53,614Financial management--12,08421,46033,544Office and other staff costs4,99025,6983,174-33,862Printing & marketing3,1839,840--13,023Computer & database costs1,32110,3413,333-14,995Events & other fundraising costs12,635---12,635Insurance---1,4521,45294,209217,90329,54922,912364,573Support costs8,91920,630(29,549)-0Governance costs6,91515,997-(22,912)-Total expenditure110,043254,530--364,573Schoolreaders CIO for the year ended 31st August 202138Notes to the Financial Statements - continuedFor the year ended 31st August 2021Year ended 31.08.21Year ended 31.08.20UnrestrictedRestrictedTotalTotalFundsFundsFundsFunds££££Provision of Schoolreaders service:Service delivery35,124106,165141,289111,921Service management10,62627,75838,38454,787Financial management3,4165,0218,4376,490Office and other staff costs4,14623,76927,91522,688Printing & marketing3,7906,0509,8406,053Computer & database costs5,0317,63712,6686,016Governance costs:Financial management6,0678,91614,98312,491Insurance4106041,01484868,610185,920254,530221,2946. Charitable activitiesNet income is stated after charging:£ Depreciation2,231Independent Examiner fees1,800 4,0318. Net income

Schoolreaders CIO for the year ended 31st August 202139Notes to the Financial Statements - continuedFor the year ended 31st August 20219. Staff costs£Gross salaries194,501Social Security costs10,574Pension contributions4.037209,112The average number of employees in the year was 10 (2020 - 8). No employees had emoluments in excess of £60,000 (2020 - none). Total employment benefits of key management personnel were £43,720 (2020 £31,175). Total staff costs paid in the year are as follows (2020 - £172,094): Cost£At 1 September 20206,746Additions9,409At 31 August 2021(462)15,693DepreciationAt 1 September 20202,177Disposals(116)Charge for the year2,231At 31 August 20214,292Carrying AmountAt 31st August 202111,401At 31st August 20204,56910. Trustees’ remuneration and benefitsThere were no trustees' remuneration or other benefits for the year ended 31 August 2021 (2020 £Nil). Trustees' expenses amounting to £Nil were paid during the year ended 31 August 2021 (2020 £Nil). 11. Tangible assets

Schoolreaders CIO for the year ended 31st August 202140Notes to the Financial Statements - continuedFor the year ended 31st August 202112. Debtors UnrestrictedRestrictedTotal FundsTotal FundsFundsFunds31.08.2131.08.20££££Debtors and accrued income32,15013,72045,870145,149£35,000 is included in debtors as accrued grant income receivable in the year ending 31 August 2022. 20212020Total FundsTotal Funds ££Net income/(expenditure) 180,300196,167Adjustments for: Depreciation charges 2,2311,664Loss/(profit) on disposal of fixed assets3470Interest (43)(431)(Increase)/decrease in stock(2,096)0(Increase)/decrease in debtors99,279(60,657)Increase/(decrease) in creditors(6,649) )5,321Net cash provided by/(used in) operating activities273,368142,06413. Reconciliation of net income (expenditure) to net cash flow from operating activities20212020Total FundsTotal Funds ££Cash in hand558,337294,335Total cash and cash equivalents558,337294,335Analysis of cash and cash equivalents14. Creditors: amounts falling due within one yearUnrestrictedRestrictedTotal FundsTotal FundsFundsFunds31.08.2131.08.20££££Creditors and accruals9,08113,55922,64029,289

Schoolreaders CIO for the year ended 31st August 202141Notes to the Financial Statements - continuedFor the year ended 31st August 202115. Movement in fundsNet movementAt 31.08.20in fundsAt 31.08.21£££Unrestricted fundsGeneral fund329,34895,361424,709Restricted fundsTotal85,41684,939170,355TOTAL FUNDS414,764180,300595,064Balance atIncomeExpenditureBalance at31.08.2031.08.21££££Unrestricted funds329,348241,608(146,247)424,709Restricted funds:Bedfordshire20,0006,200(13,660)12,540Essex2,09615,000(16,636)460Northamptonshire1392,967(3,106)-Norfolk1,51611,250(10,868)1,898Leicestershire-14,375(9,081)5,294Bristol-10,000(3,281)6,719Staffordshire-10,000(3,333)6,667Other Counties-76,153(76,153)-Future expansion-75,000-75,000Staff wellbeing-2,000(1,193)807Rent6,49612,567(18,261)802Operations Coordinators55,16967,753(62,754)60,168Total restricted funds85,416303,265(218,326)170,355TOTAL FUNDS414,764544,873(364,573)595,064Net movement in funds, included in the above, are as follows:Included in reserves at 31 August 2021 is £35,000 of accrued grant income receivable in the accounting period ending 31 August 2022.

16. Related party transactionsE J Scott, consultant, who provides database and operations development and fundraising support received £36,993 in respect of the year (2020 £51,243) and is related to a former Trustee, M J Scott. Donations without conditions received from related parties in the year totalled £32,148 (2020 £27,368). Schoolreaders CIO for the year ended 31st August 202142Notes to the Financial Statements - continuedFor the year ended 31st August 202117. Financial commitmentsFinancial commitments at 31 August 2021 amounted to £3,619 (2020 £7,649). 18. Events after the end of the reporting periodThe pandemic continues to represent a condition existing at the balance sheet date however the trustees continue to carefully consider the impact of this on the measurements of assets and liabilities in the financial statements and concluded that no adjustments are required.

Schoolreaders CIO Registered Charity: 1159157 Schoolreaders Bedford Heights, Brickhill Drive Bedford, MK41 7PH www.schoolreaders.org 01234 924 111