THE POETRY SCHOOL
ICOMPANY NO. 03434849)
(CHARITY NO. 1069314)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Myrus Smith
Norman House
8 Burnell Road
Sutton
Surrey
SM14BW

THE POETRY SCHOOL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS
Pages
Chair's Report
Trustees, Annual Report
10-12
Independent Auditors, Report
13
Statement of Financial Activities
14
Balance Sheet
15
Cash Flow Statement
16-23
Notes to the Financial Statements

THE POETRY SCHOOL
CHAIR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
After a challenging years for arts organisations, the Poetry School lives on with the 27th
successful year of high quality teaching programmes for adults to develop their poetry. Whether the
student is a beginner to writing poetry or one with substantive experience embarking on our MA, The
Poetry School provides the environment for students to make poetry happen.
The transition post COVID continues successfully for its third year and the School has successfully
operated its third year in the flexible working environment at Somerset House reducing overheads
and carbon footprint in the process. Through the hard work of stsff, tutors, students and trustees, plus
the support of Arts Council England {ACE} and other friends, The Poetry School continued to provide
100s of courses and workshops to a diverse, eclectic and talented student body which make the
school such a vibrant place. Operating across the UK with in-person classes from Exeter to
Manchester to Leeds, the School engages with its communities of creative practitioners both in-
person and online in the UK and globally.
In the report provided below COO Jonathan Sharples outlines the work that the school has
undertaken and shows how the school has adapted and even thrived during these difficult times. The
School has had an extraordinarily turbulent year having spent six months outside the ACE National
Portfolio until re-entering as National Portfolio Organisation on the Transfer Programme in the autumn
of 2023. This was of crucial importance to the School as doing so secured invaluable unrestricted
funding for a further two years. In preparation for our transfer to the Arts Council North portfolio, the
School quickly committed to establishing possible options for administrative headquarters and
permanent in person teaching facilities in one or possibly more than one location in Leeds,
Manchester, Newcastle and a maximum of other locations. We were therefore delighted that the
year could culminate with not only SUC￿ssfUllY opening our new, registered office in Leeds city
centre, but also the exciting beginnings of trustee recruitment with strong candidates emerging
bas￿ in York and Sheffield respectively.
The School has sustained its partnerships during this challenging time and the Prizes continued to run
very successfully with virtual ceremonies Two particular partnerships which deserve specific
recognition are the 6th year of Ginkgo Prize, the world's largest prize for ecopoetry with the Summer
2023 ceremony planned at the South Bank Centre as part of Poetry International and the sustained
expansion of Poet Laureate Simon Armitage's Laurel Prize into its 4th year.
Board stability is a key facet of the School's Suc￿sS and only members
Latiya Nanton and
Catherine Birch - stepped down this year having served the School for 5 years. Enormous thanks to
all individuals for their tireless work over the past couple of years.
The School remains robust financially despite the challenging economic conditions we all face today
and the organisational risk rating from ACE continues to be 'Minor', for which the School should be
proud. ACE has judged the orgranisation 'Strong' in all aspects and sustained gentle expansion looks
promising both in the UK and beyond in the coming year. The rich and diverse creative programme is
second to none, the financial base is solid with appropriate reserves being maintsined and the future
looks positive as the School enters its 27th year.
Richard Forsdyke
CHAIR OF THE BOARD OF TRUSTREES
30 December 2024

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report for the year ended 31 March 2024.
Reference and Administrative Details
TRUSTEES
Richard Forsdyke
Helen Tay5or
Latiya Nanton (appointed 05 December 2019, resigned 28 February 2024)
Denise Saul
Catherine Birch (appointed 01 December 2019, resigned 30 June 2024)
Jonathan Teyssandier
Hannah Etim-Gorst {appointed 5 September 2023}
Jonathan Sharples (appointed 5 September 2023)
Katherine Columbus (appointed 26 March 2024)
Christopher John Brown (appointed 20 May 2024)
Professor Helen Mort (appointed 5 July 2024)
(Chair)
REGISTERED OFFICE
Ground Floor
1 City Square
Park Row
Leeds LS12ES
COMPANY NUMBER
03434849
CHARITY NUMBER
1069314
BANKERS
CAF Bank Limited
Kingshill
West Maling
Kent
ME19 4TA
AUDITORS
Kingston Burrowes Audit Ltd
308 Ewell Road
Surbiton
Surrey
KT6 7AL

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
Objectives and Activities
The purposes of the charity are..
To provide inspiring tuition and opportunities for P￿tS and poetry audiences
To encourage poets and poetry to flourish
To offer high quality creative tuition, direction and support that is afft)rdable and accessible to
The vision which shapes our annual activities remains the teaching of poetry as an art form from
beginner level to an accredited MA in partnership with Newcastle University and beyond. We also act
as a talent development agency for emerging poets with a programme of professional development
opportunities.
In shaping our objectives for the year and planning our activities, the trustees have considered the
Charity Commission's guidance on public benefit. The Poetry School relies on income from course
fees as well as grants from bodies such as Arts Council England and other trusts and individuals to
cover its operating costs. Affordability and accessibility to our programmes is important to us and is
reflected in our pricing and bursary policies set out in detail later in this report.
We endeavour to encourage more people from diverse backgrounds to take part in our activities and
offer a comprehensive digital programme enhanced and supported by CAMPUS, the world's largest
social network for poets. The School is now firmly embedded in Somerset HoLJse, an inspiring and
impressive location, in addition it operates in person from Exeter up to Hull and has over 15
geographical locations where it deSivers tuition and events for students and the public, thus justifying
its position as an educational institution with genuinely national reach. Prize ceremonies take pla
outside London in location such as Leeds, Birmingham and Yorkshire. expanding on the valuable and
unique relationship with the Poet Laureate, Simon Armitage_ More free workshops, scholarships and
bursaries, were marketed and offered, many for marginalised and minority groups including 4 full
scholarships for the MA (an increase of one more than 2022-23
worth over £9.5k each over 2
years) and creat-ve partnerships with groups which specialise in hard to reach poets We￿ developed.
A particular long-term partnership with Creative Future has resulted in the School team judging their
poetry competition, picking mentors and Sally Carruthers chaired their poetry publishing panel at the
Southbank Centre and acted as a keynote speaker with this critical audience.
The strategies employed to achieve the charity's aims and objectives are to:
Present and market a wide range of programmes, seminars and workshops to appeal to
poets of all abilities and from all backgrounds.
Utilise digital methods of teaching to ensure that in addition to our UK wide physical centres
students from all areas can access our work.
Achieve greater sustainability, resilience and impact by scaling-up the Poetry School's
operations., increasing staff numbers, improving systems and diversifying the funding base.
Engage in partnership activities with relevant groups and organisations to devise creative
ways for individuals to further their Practi￿ and gain experience.
Increase free provision to under-represented groups and marginalised poets and remove all
financial and other barriers to participation.
Putting these strategies into action we have 4 main areas of activity
our core informal teaching
programme, MA, digital offering and CAMPUS as well as special projects, prizes and partnerships.

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
Achievements and Performance
Infom7al Teaching pmgramme
This is the core of the Poetry School's offer, and has existed in some form since the organisation's
founding in 1997. We run a programme of activities to teach adults how to write poetry and this
programme is segmented in various ways to take account of people's skills, interests, geographical
and social situation, level of commitment and budget.
Most face-to-face classes take place in the evening and at weekends. We have 30 week courses over
a year, 10 and 5 session courses over a term. and one and day sessions at weekends. Classes
are set at beginner, intermediate and advanced level, and students can learn about the technical,
inspirational or professional aspects of writing poetry. They can also choose from a pedagogical
spectrum from lecture to practical workshop. We offer free tsster sessions to all interested in our
courses to ensure that everyone, no matter their socioeconomic background, heritage or disability
and everyone can engage with our work from free ecopoetry workshops funded by the Ginkgo Prize
online which have reached students globally and have been taught by tutors as far afield as LA to our
MA and scholarships for marginalised poets.
Our online programme has an average attendance of over 960/0 With a similar figure being returning
students. Our long-term strategies and varieties of support ensure that a beginner may one day
become an MA student and then teacher, many developing a relationship with the School that lasts
decades.
MA
The Writing Poetry MA continues as our first accredited course in association with Newcastle
University. We enrolled 22 students for the 2023-24, - an exceptional achievement as this represents
o cohorts for the very first time, one of 13 students and the second of 9 with 34 students
participating in Somerset House , the School's numbers are far in excess of the 5 students Newcastle
itself has on this course at their campu5. This has led to a significant lift in revenues as can be seen in
the figures. Funding was achieved for a third full scholarship for an MA student, for the third year,
from a marginalised group worth £10,200over the 2 years of the course. The suc￿Ssful marketing
and expansion of the MA in a relatively short amount of time will result in 2 cohorts rather than one
starting at the School in September 2024, providing another uplift in funding for 2024-25.
The Grace Cook Scholarship was established last year in memory of the School's friend and financial
officer, Grace Cook with a view to providing a full scholarship (£10,200 over the 2 year period) on an
annual basis in her memory to a young poet of colour.
Digital Offering and CAMPUS
As already noted this is a key area of success and growth for the School and although the new
website development was paused for this year- whilst waiting for a final decision from ACE about the
NPO status, the successful outcome of the School's appeal in this area will see the new website top
of the priorities for 2023-24.
Special projects and partnerships
Our 'Poet in the World, programming is how we address our audien￿ development targets, focussing
particularly on bringing in a younger and more diverse group of writers to the Poetry School. A series
of special projects and partnerships helps us do that. In 2023-24, we concentrated on:
Ginkgo Prize - the School presented the Ginkgo Prize, the world's largest ecopoetry competition for
the 6th year, with a first prize of £5,000, second of £2,000 and 3rd prize of £1,000. In addition for the
2023 Prize the Areas of Outstanding Natural Beauty (AONBI donated funds towards a prize for best

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
'Poem of Landscape, and created an anthology to this effect. The 2023 ceremony took place at the
Poetry International Festival at the Southbank Centre.
The Laurel Prize for Nature and Ecopoetry - Poet Laureate, Simon Armitage's prize created as his
headline Laureateship project and to which he is giving his Laureate's stipend of £5,000 per annum
for the next 10 years. Funding was secured again from a number of trusts, foundations and
individuals to sustain and grow this activity- Partnerships have also been forged with Yorkshire
Sculpture Park and the AONB who awarded each of the winners a £700 commission to create a
poem based on their favourite AONB as well as an additional prize for best first collection. A day of
celebration and the Prize rEremony was took place with an in-person and online audience as part of
the BBG'S Contains Strong Language festival September 2023. at Yorkshire Sculpture Park and
grows in terms of global submissions and visibility.
Prizes we sponsorèd and partnered with Creative Future Award, Rebecca Swift Foundation
Women Poets Prize, Aesthetica Creative Writing Prize, The UK National University Poetry Slam &
Summit .
Partnerships - New Poets Collective, Verve Poetry Festival (Sponsored Performance Lecture), T.S.
Eliot Prize, Forward Prizes, Obsidian Foundation, Griots Well, Creative Future.
Editorial Partnerships
Ledbury Poetry Critics Scheme, How l Did It with Forward Prizes, and
Writers. Notes with T.S. Eliot Prize.
Our Creativ8 Values
The Poetry School was established in 1997 by three poets around a kitchen table. From these
beginnings our artistic values have grown with a core commitment to providing inspiring tuition and
opportunities for poets and poetry audiences. Since our earliest days our activities have enabled
poets and poetry to flourish.
With estsblished teaching ¢entres throughout England as well as online courses, downloadable
activities. and the world's biggest social ne￿Ork dedicated to poetry - CAMPUS - the Poetry School
is unique in its ability to reach and develop aspiring poets wherever they may be, both in the UK and
internationally.
We respect the diversity and views of our audiences and ensure that all comments on our artistic
programme, both positive and negative are respected and heard. We aim to respond to all queries
and complaints regarding our programme immediately and properly and ensure that all tutors,
students and other stakeholders have their voices heard and their comments noted.
The Poetry School is a proud National Portfolio Organisation of Arts Council England 2018-22. During
COVID this term was extended to funding to April 2023.
Student Experience
The School is committed to monitoring the satisfaction of its students and all the groups with which we
work. Over 80 % of our students return to take courses in the future, a statistic which indicates the
success of our offer.

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Financial Review
The School's critical relationship with its major funder- ACE- was placed under strain this year as in
November 2022 ACE decided not to include the School as part of its NPO from April 2023. This was
not performan￿ related by a reflection of the pressures, both political and economic on the funding
available and many controversial decisions have been highlighted about this process in the press.
The School decided to appeal on the grounds that ACE had not followed its own procedures in the
assessment of the School's application and was the only organisation in the entire portfolio to be
reinstated, thus securing this funding again for the next 2 years. This resulted in considerable
uncertainty, but the School remains financially more robust than ever with the MA set to exceed the
funding from ACE as its largest unrestricted funder from 2023-24.
During this period the School received £178,759 in charitable donations as opposed to £168,564 in
2022-23 and will rise in 2023-24 after this period of uncertainty.
Revenue from charitable activities and the MA increased from £395,794 to £393,937 in 2023-24..
Reserves are rising to the desired levels of 6 months contingency and corporate partnerships which
have been unable to be developed during COVID are planned to add to unrestricted funds.
Our Pricing Policy
The Poetry School is committed to ensuring that its work is accessible and afft)rdable to all who wish
to participate, no matter their financial circumstances.
Prices and fees were effectively frozen during COVID and have been raised this financial year.
Tutorials in person and online cost £150 for a meeting with prepared feedback from the tutor on a
submission of 200 lines of poetry.
Our MA is now £9,900 for the ￿0-year course. Of this amount the Poetry School takes 850A 2nd
Newcastle University 15°A.
We offer means tested bursaries to all those who qualify, with up to 100°/o of costs funded.
Our tutor fees are based on the Society of Authors Freelance Rate Reckoner and we are proud to
be a London minimum wage employer. We hold regular reviews with tutors and benchmark our
policies against comparators within the arts and academic sectors
Investments
The Poetry School currently has no investments on which to report.
Reserves Policy and Going Concern
Reserves are required to cover unplanned emergency expenditure and the trustees consider the ideal
level of reserve would be three months, worth of overhead costs.
The trustees have reviewed the circumstances of the school and consider that adequate resources
continue to be available to fund the activities of the charity for the foreseeable future. The trustees
are of the view that the Poetry School is a powerful going concern, a view echoed by ACE who have
revised the risk rating of the Charity to 'minor' _ their lowest rating.

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
Plans for Future Periods
The Poetry School Director will continuously revise its Articles of Association to bring it more closely in
line with current Charity Committee advice based on the Charities Act 2006.
The School continues to develop and strengthen relevant partnerships with key organisations as can
be seen in our special projects and other activities, Of particular note is the establishment of the
Laurel Prize and the successful development of the Ginkgo Prtze.
The School continues to innovate and lead activity in the sector engaging new and harder to reach
audiences whilst increasing fund raising from trusts and foundations, individuals and pursues
corporate partnerships as well as providing sector leading activities through research and
development.
Jonathan Sharples, 30 December 2024
Structure Governance and Management
Governing Document
The Poetry School is a private company limited by guarantee (company number 034348491 governed
by its Mernorandum and Articles of Association dated September 2016. It is a registered charity with
the Charity Commission, number 1069314.
Appointment of Trust8es
As set out in the Articles of Association the chair of the trustees is nominated by the Board. Board
members serve for 3 years with 30 % of members retiring on an annual basis with an option of re-
election.
A]1 members have the opportunity to nominate or support the nomination of trustees before each
board meeting and when considering new trustees the Board considers the requirement for any
specialist skills required for instance, in the eventuality of a capital campaign large scale project
management and construction skills will be required.
Organlsation
The board of trustees administers the charity. The Board nomially meets quarterly and a
representative from Arts Council England is also invited to attend. An Executive Director is appointed
by the trustees to manage the day-to4ay operations of the charity. To facilitate effective operations a
Creative Director has also been appointed by the Board to manage the programme and special
projects.
Related Parties and Co-operation wlth other organisations
None of our trustees receive remuneration or other benefit from their work with the charity. Any
connection bekneen a trustee or senior manager of the charity with other poetry organisations must
be disclosed to the full board of trustees in the same way as any other contractual relationship with a
related party. In the current year no such related party transactions were reported.

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
Pay Policy for Senior Staff
The directors consider the board of directors, who are the Poetry School's trustees and the senior
management team comprise the key management personnel of the charity in charge of directing and
controlling, running and operating the charity on a day to day basis. All directors give of their time
freely and no director received remuneration in the year. Details of directors, expenses and related
paty transactions are disclosed in note 12 of the accounts.
The pay of senior staff is reviewed annually and normally increased in accordance with average
earnings. In view of the nature of the charity the directors benchmark against other arts organisations
of a similar size.
Risk Management
The organisation has a risk management strategy which compromises-
An annual review of the principal risks and uncertainties that the charity faces in line with ACE
reporting guidelines
The establishment of policies, systems and procedures to mitigate these risks identified
Discreet risk assessments when faced with new or special projects, such as the potential for a
capital campaign or other extraordinary activity.
ACE gave the charity a risk rating of MINOR- it's lowest rating in its annual feedback.
Trustees, responsibilities in relation to the financial statements
Trustees, responsibilities ststement
The trustees (who are also directors of the P￿ty School for the purposes of company law) are
responsible for preparing the Trustees, Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they 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 that period. In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2019 IFRS 102).
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. 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.

THE POETRY SCHOOL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company's auditor is unaware.,
and
the trustees have tsken all steps that they ought to have taken 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 provisions of Part 15 of the Companies Act
2006 relating to small companies.
By order of the board of trustees
Richard Forsdyke (Chair)
30 December 2024

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF:
THE POETRY SCHOOL
FOR THE YEAR ENDED 31 MARCH 2024
Opinion
We have audited the financial statements of The Poetry School for the year ended 31 March 2024
which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement
and notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024.
and of its incoming resources and application of reSoUr￿s, including its income and
expenditure, for the year then ended",
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordan￿ with International Standards on Auditing (UK) (ISAS (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 financial statements in the UK, including the FRC'S 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going con￿rn
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, irydividually or collectively, may cast significant doubt on the charitable
company's ability to continue as a going concern for a period of at least twelve months from when the
financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the
information included in the trustees, annual report, other than the financial statements and our
auditor's report thereon. 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.
In connection with our audit of the financial statements, 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 audit or othewise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. 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.
10-

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF:
THE POETRY SCHOOL
FOR THE YEAR ENDED 31 MARCH 2024
Icontd..
Vve have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, report (incorporating 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 accordan￿ with applicable legal requirements.
Matters on which we are requlred to report by exception
In the light of our 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 requires us to report to you if, in our opinion.
adequate accounting records have not been kept, or retums adequate for our audit have not
been received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns-, or
certain disclosures of directors, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemptions in preparing the
directors, report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and
for such internal control as the trustees determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to going
con￿rn and using the going concern basis of accounting unless the trustees either intend to liquidate
the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement
when it exists. Misststements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and ￿gulatiOnS. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The specific procedures for this engagement and the extent
to which these are capable of detecting irregularities, including fraud is detailed below..
11

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF:
THE POETRY SCHOOL
FOR THE YEAR ENDED 31 MARCH 2024
Icontd...
Enquiry of management and those charged with governan￿ about actual and potential
litigation or claims and the identification of non-compliance with laws and regulations.
Reviewing minutes of meetings of those charged with governance.
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
Auditing the risk of management override of controls, including testing journal entries and
other adjustments for appropriateness,. and assessing whether the judgements made in
making accounting estimates are indicative of a potential bias.
Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud.
Professional $￿ptI¢l5rn in course of the audit and with audit sampling in material audit areas.
Because of the inherent limitations of an audit, there is a risk that we will not detect 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 less likely to become
aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due
to fraud rather than error, as fraud involves 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 website at.. www.frc.org.uklauditorsresponsibilities. This description
forms part of our auditoff s report.
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to them in an
auditor's report and for no other purpose.
To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and the charitable company's members as a body, for our audit work, for this
report, or for the opinions we have formed.
K.C. Fisher (Senior Statutory Auditor)
For and on behalf of Kingston Burrowes Audit Limited,
statutory Auditors
308 Ewell Road
Surbiton
Surre
KT6 7AL
30 December 2024
12-

THE POETRY SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES
(including the Income and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Notss
INCOME AND ENDOWMENTS
FROM:
Donations and legacies
Investment income
Charitable activities
67,847
890
395,794
110.912
178,759
890
395,794
168,564
474
393,937
TOTAL INCOME
464,531
110,912
575,443
562,975
EXPENDITURE ON:
Raising funds
Charitable activities
728
508,924
476,393
91,412
567,805
TOTAL EXPENDITURE
476,393
91,412
567,805
509,652
NET (EXPENDITURE)IINCOME
Transfer be￿een funds
(11,862)
19,500
7,638
53,323
NET MOVEMENT IN FUNDS
(11,862)
19,500
7,638
53,323
RECONCILIATION OF FUNDS
Total funds brought forward at 1 April 2023
99,472
3,250
102,722
49,399
TOTAL FUNDS CARRIED FORWARD
AT 31 MARCH 2024
£87,610
£22,750
£110,360
£102,722
The company made no recognised gains and losses other than those reported in the income and
expenditure account.
All income and expenditure derives from continuing activities.
The notes on pages 16 to 23 form part of these financial statements.
13-

THE POETRY SCHOOL
(Company No. 03434849)
BALANCE SHEET
AS AT 31 MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible assets
1,074
426
CURRENT ASSETS
Debtors
Cash at bank and in hand
10
76,338
93,955
53,034
88,788
170,293
141.822
CREDITORS:
Amounts falling due within one year
11
61,007
39,526
NET CURRENT ASSETS
109,286
102,296
NET ASSETS
12
£110,360
£102,722
FINANCED BY:
Unrestricted funds
Restricted funds
13
13
87,610
22,750
99,472
3,250
£110,360
£102,722
These financial statements have been prepared in accordance with the special provisions of Part 15
of the Companies Act 2006 relating to small companies.
The accounts were approved by the Board of Directors on
2024.
Richard Forsdyke
(Chair)
The notes on pages 16 to 23 form part of these financial statements
14-

THE POETRY SCHOOL
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flov￿ from operating activities:
Net movement in funds per Statement of Financial Activities
Adjustments for:
Depreciation
Decreasel(increase) in debtors
{Decrease)Ilncrease in creditors
7,638
53,323
499
(23,304)
21,481
213
{51,433)
{60,126)
Net cash (used in) operating activities
6,314
(58,023)
Cash flows from investing activitles:
Purchase of tangible fixed assets
(1,147)
Net cash pmvided by/(used in) Investing activitles
5,167
(Decrease) in cash
5.167
(58,023)
Cash and cash equivalents brought forward
88.788
146,811
Cash and cash equivalents carrled forward
£93,955
£88,788
Analysis of cash and cash equivalents
2024
2023
Cash at bank and in hand
£93,955
£88,788
The notes on pages 15 to 22 form part of the financial ststements.
15-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
General information and basis of accounting
The Poetry School is a registered charity (No. 1069314) and private company limited by
guarantee (No. 03434849), incorporated in Great Britain and registered in England and Wales.
The registered Offi￿ is given in the Reference and Administrative Details in the Trustees,
Annual Report.
The charity constitutes a public benefit entity as defined by FRS 102. 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) issued in
October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic
of Ireland (FRS 102), the Companies Act 2006, the Charities Act 2011 and UK Generally
Accepted Accounting Practi￿.
The financial statements are prepared on a going concern basis and under the historical cost
convention. The significant accounting policies applied in the preparation of these financial
statements are set out below. These policies have been consistently applied to all years
presented unless otherwise stated.
Tanglble Flxed Assets
Fixed assets are shown at historical cost.
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life by the straight line method.
Furniture and equipment
Improvements to leasehold premises
25/0
20%
Taxation
The charitable company is exempt from taxation under s505 Income and Corporation Taxes
Act 1988.
Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient
certainty that receipt of the income is considered probable and the amount can be measured
reliably.
The Poetry School receives much of its income at the start of the academic year for courses
held throughout that year. Accordingly the proportion of income for the next financial year is
deferred.
Expenditure recognition
Expenditure is recognised once there is a legal or constructive obligation to make payment to a
third party, it is probable that settlement will be required and the amount can be measured
reliably.
16-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
ACCOUNTING POLICIESlcontd...
Expenditure is classified under the following headings..
Raising funds which comprise of those costs associated with attracting voluntary income
such as grants and donations
Charitable activities which comprise of those costs associated with carrying out the charity's
various activities in order to meet its objectives
Expenditure includes those of a direct nature which can be allocated to a specific activity. It
also includes indirect costs, including governance costs that do not relate to a specrfic activity
but are ne￿SSary to support those activities.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised expenditure.
Fund accountlng
The Restricted Funds are restricted income funds given to the charity for specific reasons.
They are expendable by the trustees in respect of particular projects in furtherance of the
objects of the charity.
The Unrestricted Funds are funds expendable at the discretion of the trustees in furtheran￿ of
the objects of the charity-
Leases
Operating lease rentals are charged to the Statement of Financial Activities on a straight line
basis over the period of the lease.
Pensions
The charity operates a defined contribution scheme. Contributions payable under the scheme
are charged in the Statement of Financial Activities in the year to which they relate.
17-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
DONATIONS AND LEGACIES
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Arts Council England - Transfer
Programme
Arts Council England - Transition
Fund
Arts Council.England - Feasibility
Project
Donations
59,581
59,581
83,412
22,500
142,993
83,412
22,500
8,266
5,000
13,266
25,571
£67,847
£110,912
£178,759
£168,564
Of the £168,564 recognised in 2023, £155,564 was unrestricted funds and £13,000 was restricted
funds.
INVESTMENT INCOME
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Bank interest re￿1vable
£890
£Nil
£890
£474
All of the £474 recognised in 2023 was unrestricted funds.
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
Restrictsd
Funds
Total
2024
Total
2023
Courses (inc. online), Tutorials,
Seminars & Workshops
New Artistic Programmes and Special
Projects
Higher Education Programme
Other income
233, 086
233,086
294,597
10,894
149,014
2,800
10,894
149,014
2,800
1,071
90,269
8,000
£395,794
£Nil
£395,794
£393,937
All of the £393,937 recognised in 2023 was unrestricted funds.
18-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
Restricted
Funds
Total
2024
Totsl
2023
Salaries and staff costs
Tutor fees
Rent and venue hire
Premises cost
Marketing
Course Expenses
Higher Education Programme
New Artistic Programmes
Bursary
Insuran
Communications
Website costs
Legal and professional
Refunds
Repairs and renewals Ilnc. IT)
Stationery and Offi￿ supplies
Telephone and Internet
Bank and Paypal charges
Sundry expenses
Depreciation
Travel
171,062
91,233
29,092
1,145
3,307
21,123
65,870
25,334
7,440
2,560
190
5,609
18,333
29,853
40,704
2,475
200,915
131.937
31,567
1.145
3,307
21,123
70,286
30,334
7,440
3.425
190
7,978
21,840
214,139
105,189
19,757
346
4,051
13,993
47,411
46,122
959
3,483
1,382
8,775
12,965
4,416
5,000
865
2,369
3,507
3,501
4,990
1,624
4,519
571
499
8,407
3,501
4,990
1,624
5,164
571
499
9,328
3,028
6,786
2,981
4,206
889
213
645
921
DIRECT PROJECT COSTS
465,752
91,412
557,164
496,675
SUPPORT COSTS
Salaries and staff costs
Governance costs..
Auditors remuneration
Directors, expenses
Trustees, expenses
6,450
6,450
8,422
2,010
2,181
2,010
2,181
2,010
1,817
£476,393
£91,412
£567,805
£508,924
Of the £508,924 expended in 2023, £491,924 was charged to unrestricted funds and £17,000 to
restricted funds.
19-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
NET INCOMEI(EXPENDITURE) FOR THE YEAR
2024
2023
This is stated after charging..
Operating lease rentals
Auditors, remuneration..
Audit services
Non-audit services- accountancy ServI￿S
Depreciation
£18,179
£17,438
£1,700
£310
£499
£1,700
£310
£213
STAFFING
2024
2023
Salaries
Social Security cost
Pension costs
155,636
10,309
3,790
169,499
12,534
4,584
169,735
37,630
186,617
35,944
Consultants and other staff costs
£207,365
£222,561
No employee received employee benefits (excluding employee pension costs) of more than
£60,000.
Totsl employee benefits received by key management amounted to £30,684 (2023.. £61,693).
2024
No.
2023
No.
Number of Staff
Director
Programme & Marketing
Administration & Finance
TRUSTEE EXPENSES
No Trustees <2023.. No} were reimbursed for out of pocket subsistence expenses. These amounted to
£Nil for the year (2023.. £Nil).
-20-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
TANGIBLE FIXED ASSETS
Improvements to
Leasehold Premises
Furniture &
Equipment
Total
Cost
At 1 April 2023
Additions
Disposals
7,929
21,606
1,147
29,535
1,147
{7,929)
(7,929)
At 31 March 2024
22,753
22,753
Dep￿CiatIon
At 1 April 2023
Charge for the year
Eliminated on disposal
7,929
21,180
499
29,109
49g
(7,929)
{7,929)
At 31 March 2024
21,679
21,679
Net Book Values
At 31 March 2024
£Nil
£1,074
£1,074
At 31 March 2023
£Nil
£426
£426
10. DEBTORS
2024
2023
Accrued income
Other debtors
Prepayments
18,226
57,329
783
52,149
885
£76,338
£53,034
11. CREDITORS: Amounts falling due wlthin one year
2024
2023
Other creditors including taxation and social security
Accruals
Deferred income
58,942
2,040
25
36,543
1,980
1,003
£61,007
£39,526
All of the deferred income brought forward was released during the year.
21

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
12. ANALYSIS OF NET ASSETS BEWEEN FUNDS
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Fund Balances at 31 March 2024
are represented by
Tangible fixed assets
Current assets
Current liabilities
1,074
147,543
(61,007)
1,074
170,293
(61,007)
426
141,822
(39,526}
22,750
£87,610
£22,750
£110,360
£102.722
13. MOVEMENT IN FUNDS
At 1 April
2023
At 31 March
2024
Income
Expenditure
Transfers
Restricted Funds=
Laurel & Ginkgo prizes
Grace Cook Scholarship
Apples & Snakes
AGE Transition
ACE Feasibility
5,000
5,000
3,000
3,000
250
250
83,412
22,500
83,412
22,500
3,250
110,912
91,412
22,75Q
Unrestricted Funds..
General
99,472
464,531
476,393
87,610
Total Funds
£102,722
£575.443
£567,805
£Nil
£110,360
Comparative information for previous year..
At 1 April
2022
At 31 March
2023
Income
Expenditure
Transfers
Restricted Funds-.
Laurel & Ginkgo prizes
Gra￿ Cook Scholarship
Apples & Snakes
10,000
3,000
17,000
7,000
3,000
250
250
250
13,000
17,000
7,000
3,250
Unrestricted Funds..
General
49,149
549,975
492,652
(7,0001
99,472
Total Funds
£49,399 £562,975
£509,652
£102,722
-22-

THE POETRY SCHOOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
(CONTINUED)
13.
MOVEMENT IN FUNDS continued
Funds
Transition Programme
a grant of £83,412 was received to provide support as we were
unsuccessful in our application to the Arts Council's 2023-26 Investment Programme.
Feasibility Project- a grant of £22,500 was received to visit and establish possible options for
administrative headquarters and permanent in person teaching facilities in one or possibly
more than one location in Leeds, Manchester, Newcastle and a maximum of two other
locations.
Apples & Snakes
£250 remains for partnership working be￿een the organisations
following a suc￿sS￿J1 jointly programmed course in 2014.
Grace Cook Scholarship - donations were received in memory of our late colleague Grace
Cook. The trustees have agreed to use these ￿ndS to establish a scholarship for a BIPOC
poet.
Laurel and Ginkgo prizes - donations of £5,000 were received towards the cost of the prizes.
14.
OPERATING LEASE COMMITMENTS
Total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
Amounts due within..
One year
One to five years
566
£Nil
£566
IS.
CONTINGENT ASSETS
Total grant funding awarded as at 31 March 2024 but not yet ￿￿1Ved and recognised as
income due to the recognition criteria not being met amounts to £142,993.
-23-