Company registration number." 04336052
Charity registration number- 1093858
The Poetry Archive
(A company limited by guarantee)
Annual Report and Financial Sthiements
for the Year Ended 31 March ?024
Thompson Jenner LLP
I Colleton Crescent
Exeier
Devon
EX2 4DG

The Poetrv Archive
Contents
Reference and Administrative tkrails
Chair's Report
Trustees, Report
3to6
Siatement of Trustees. Responsibilities
Independent Examinevs Report
Statement of Financial Activities
9tolO
Balance Sheei
Nol¢s to the Financial Statements
12to26

The Poetr). Archiie
Reference and Administratii'e Details
Trustees
Robert William Seatter- Chair
Imtiaz Dharker
Amy Walker
Lavinia Caroline Osbome Singer
Siephen Cleary
Ben Murray
Trdcey Guiry
Secretarv
Charil J Registr9tion Number
1093858
Compan* Registr8tion Plumber
04336052
The charity is incOr￿rated in England and Wales.
Exeier Phoenix
Gandy Street
Exeier
EX4 3LS
Registered Office
Auditor
Thompson Jenner LLP
I Collelon Crescent
Exeier
Devon
EX2 4DG
Solicitors:
Bales. Wells and Braithwaite LLP
Bank'ers
HSBC Bank plc
Triodos Bank
CAF Bank Ltd
Page I

The Poetry Archive
Chair'5 Report for the Year Ended 31 March 2024
The Poetry Archive is ihc only chariry which makes and shares audio rttordings of poetry by the poet
themselves. and it remains a treasured and unique resourre across the UK and lrttemationally.
Our priority is to s¢¢ure thc collections for the long-terrn and focus on our financial 5UStainabiliry and resilience
in a chall¢nging environment.
We have bttn SU￿¢s5ful in receiving funds frorn Trusts and Found#tions for new re¢ordings and pmje¢t
developmeni. Our audientts have continued to gmw and we attract rnillions of views of our wetry each year. In
an era where the cosi of living is a barrier to so many when accessing cultural evenis and expcriences. our
free-of-chafge servicc means that leach¢r5. children, families and the general public #re able to continue lo enjoy
poetry and our educaiiortal resources whenever they want lo.
We will wntinue to seek new visitors. members. partners Ind collal)oraiors who can help us to ensure th¢
Archive remains a frtt resource, Parti￿larlY for our educaiion partners and ￿hfy)ls, and 10 ensurc this unique
and crucial resource remains as widely accessible as possible. We remain a IOOY• digital orgAnisation with a
flexible and dcdicaled staff, and have created a new online caiak)gue to ensure our colleaions are fully recorded
and preserved for whatever ihe firture brings.
Robert Seatter
Chair of Trustees
Pagc 2

The PoetTh' Archiie
Trustees, Report
Trustees and O￿lcerS
The trusiees and officers serving during the year and since the year end were &s follows..
Trustees-
Robert William Seatter- Chair
Imiiaz Dharker
Lucy Russon (Resigned 17 March 2024)
Amy Walker
Lavinia Caroline Osborne Singer
Stephen Cleary
Ben Murray
Secretary.
Trncey Guiry
Trusiees under ChariN Law. who are also the Directors under Company Law. present their report and the financial
statements of the company for the vear ended 31 March 20?4. Thi5 report has been prcpared in accordance wilh the
special provisions relating to small companies. subjeci to the small companies regime within part 15 of the
Companies Act 2006.
The organisaiion is a charitable company limited by guarantee. incorporated on 7 Decesnber 2001 (regi5trdtion
number 043i605?) and re21Stered as a charilN' on 19 September 200? (charity number 10938$8). The Poetrv Archive
is uovemed bv its Memorandum and Articles of Associalion. The Memorandum and Arti¢les have since been
updaied. the laiesi amendment being adopted in April 2012.
l. Objectives and ActiTrities
The Poetry Archive believe poetry is for everyone. Poetr), read in the unique voice of the poets themselves is unlike
anything else. The Poetry Archive is the only UK charity wholly dedicated io making and sharing audio recordings
of poetrv itt the author s voice. We share this poeuy free-of-cha￿e through our websites at w￿%￿￿..po¢1ryarChjVC.Org
and www.childrens.poetryarchivc.org. We now hold one of the richesi and unique collections of original recordings
of poetry in the UK. with over 20.000 tKJems by more than 800 tK)ets to explore.
With 5UPPOrt from our Members. Patrons and kind donors. alongside Trusts and Foundaiions. we have been able to
onlinuc io prol'ide access io our collections of poelry free-of-charge to the public and the communities we work
'iih. Maintaining free access to our poetry is a priority of the organisation and w'e aitract over 4 million visits per
year. We continue 10 appeal io the visitors who enjoy and use our collections for their support to enable us to keep
this uniquely valuable resource accessible.
Our collections are nol a slalic archive. but one which is constantly growing to reflect the quality and diversity of
contemporary poets of our age as well as those who weni before them. We display our poeuy recordings online,
surrounded by coniexiual infonnaiion, films. inierviews, themed collections and podcasts in order io inspire and
facilitate a deeper and more accessible exploration of the poeiry we care for.
Our digital natLEre ensures we can be maintsined by a small core ieam. au2mented by specialist freelancers. We
commit to keep nationally and inlernaEionally significani poetry recordings. interviews and contex(ual infomia(ion
safe for the benefii of educaiors. students. researchers. poets. audiences and communities.

The PoetTh Archi%'e
Trustees. Report
Over the next two years the Poetry Archive will focus on growing and sharing our archiving services, ensuring our
full collection catalogue will remain accessible and relevant to Tnore people. Our values are grounded and expressed
through the diversiN. rar¢ge and quality. of our colleciions. both from the UK and internationally. and through the
partnerships and communitics we enoa?e with.
Public Benefit
In the furtherance of The Poeiry Archive s aims. the Directors. as the Charity Trustees. have complied with the duty
in S.17 of the Charities Action 2011 io have due regard to the Charity, Commission s published general and relevant
sub sector guidance concerning the operdtion of the Public Benefil requiremeni under ihai Aci by providin? a free
online service to the public worldwide.
2. Achievemenls and Performance- achievements. projects and impacts
The Iwelve monihs beTween March 2023 and April 2024 remained challenging. particularly around unrestricted
funding to provide core services. Our digithl naiure has enabled us 10 maintain low core costs and we have reduced
all costs whilst we continue to meei our quality sthndards in archiving and in poetry curation. The core focus of our
work remains ihai of using digital technology to increase the quality. amount and reach of our digital poetry content
and experiences available lo children and young people by developing specific creative conient. capturcd content
and cultural learnints conieni.
Key projects this vear have been the completion of our Garfield Weston funded projecl to review and relaunch our
Membership and Patron schemes. and the developmenl of our collection of British Sign Language poetry in
pannership with the British Deaf Association. This has enabled u5 to raise 30D/o of our core costs and we continue to
develop this scheme with ihe aim to raise this 10 600/0 by end of March 2026.
Website and Visitor5
Both www.
oe
archive.or
and wi4Trv.childrens.
archive.or
have mainthined iheir visitor nutnber grow
throu?houi the Vear and now attract over 5 million page-views per year (more than 60 million page views since we
began our website in 2005. We represent a wide and diverse range of poelry and we conlinue to raise funding to
grow our recordino
progrdTnme.
Recording Programme 202312024
We closely manage and protect our 'gold standard. practice of creating professional audio recordings to ensure our
recordings can besi sthnd the iesi of lime. We work with the Naiional Archive5 in the UK to meet best archiving
standards. Our aim is to ensure future generdlions can continue lo ac¢ess this poeuy in fu(ure. and each recording as
a valuable anefaci.
This vear we have focused on British Sign Language and Visual Vernacular language poetry. We have created a
new colleciion io deliver multi-media responses io perfomied poetry and have created translations of some of our
poetry in English inio BSL perforn)ances. with suppon from Foyle Foundaiion. We have begun our National
Heritsge Lottery Fund supported project to create a full cathlogue of our holdings. and to create a Poetry of India
collection.
Page 4

The Poetrv Archii'e
Trustees. Report
Poetrv Arehive Now.
PoeTry Archive Nowl 2023 conlinued our long-sthnding projecl which is now a part of the poetry landscape. Thi5
project opens the Archive to new and established poei's voices from around the world. ?02J attracied over 250
entries from around the world. The whole collection has now been viewed on our YouTube channel more than
95.000 times.
3. PlJns for the future
Audience and Communities EngaRement= We M'ill continue to focus on diversiry and accessibility in the choices
we make around the poets we record. the content we create and the interdctions ￿t rosier with audiences and
partner5. Each year M'e will launch a Kev5tone Collection. an exhibilion of poety recordin?s under a theme ￿'hiCh
we cxplore in greaier detail with contexlual and inierpretaiive materials and education resources.
Education Dei'elopment.. We wani 10 provide opportunities for eN'erJ' child 2nd young person. their parents. and
those ii'ho leach Ihem to experience poeir). as an enjoyable and enriching part of their live5. inside and outside the
classroom. This lear we began our focus on British Sign Laneua£e poetry resources and are preparing for our nexl
Keystone Collection launch around poetry of India.
Organizational Resiliencelmembership Scheme- We will strengthen our financial and operational stability
thouuht the development of our Membership Scheme {funded by Garfield Wcston). visitor interactions and new
volunieer trainino scheme (funded b), National Herithge Louer), Fund). Volunieer programmes will support us to
grow our capacitb. whist sustaining core activities and our Membership Scheme offer5 nem. membership entry levels
from £ l O to £120 per year lo enable as manv people as possible to support us.
International Development- We want to reach out to our Iniernational poets. partners and communiiies io develop
new conient to enrich our colleclions and our visitors. experience. We w'ill inviie Internaiional archives lo join our
searchable dathbase of poety recordings. ensuring ihai these resources are ideniified and cared for.
4. Financial Review
The Charity'5 incoming and outgoing resources are summarised in the staiemeni of financial aclivilies in the
following pages with further detail provided w'ithin the notes.
Garfield Weston provided funding for a 2 year project lo refresh and renew our Membership Scheme to transfer to a
member-led organisation and io grow our international colleciions and networks.
Our applicztion io the Foyle Foundation was successful and this funding will enable us lo develop a collection of
British Sign langua£e poetry and to improve education resources around this practice.
Our application to National Heritage Lottery Fund was successfvl and this thnding will help us to complete the
cathlooue our Collections and to provide a searchable online catalogue on our website.
Donation Income ¢ame from donors through our website (with Gift Aid calculated through CAF Bank dorkalions
management). and from our redesigned and relaunched MeMbe￿hIp Scheme.
S. Reserves PolicTr
The Charitv's reserves policv is to hold a level of free reserves equal to three months core operational expenditure,
.hich would be equal io approxim3iel}' £30.000 as an adequate figure to cover any unforeseen expendilure that may
arise from closure.
Page 5

The Poetry Archive
Truglees, Report
6. FinxDtiil *nd Rtsk m*n*gemtnt
IDcomL' and cxpeijdittire ott Iwil￿rE(l by ihe l.inwKe Conunilltt und ￿n￿l￿L1cd quanedy At Fiiiance
Lonmiiiiee n)LYtiD8s. Re¢omnie￿lat10nS are nwjc by the fiMTKe comin11￿ ￿ the BoArd who 5¢rn1inise all
managemcnt a¢c(wiils ar Iheir (￿ArterlY knrd of Iwslees 01 rhe mw TLfCEiI review I￿5 Ll)dicAled
thai torwwtd bwlgds will enable Ilw Clwrity 10 ¢W 0111 its planned aLILVlIKS durin8 ihe fofilKixning yeai.
Fiiiidrtsisin8 conlÈnue5 iiThAer fhe Dircanr and Ihc ClwrLry CDTilinucs its sirtLI w)licy of i￿1 c()mi]ii1ili￿ tijnds
until Ihry li8￿ t*en recrtv¢d Ltr proniÈsed
T1￿ Board ol"Trustees also corry oul fy 4wi¢rfy U￿la1¢ otih¢ Risk. Reyiew a ddAiled analysis.
RJ"sks Eire ideniiliLd •id appmpTi8te 51ep% Jwt to limil ilk)5e n5ks a$ for as is Fwibk. R¢S￿￿51b11IIY li)
ciit)n ii)ili8aiioii Is thIL¥￿Ied to Ihe Director.
7. StructllTe. ¥oI'ern•nce gnd m*n*EemeDt
"lThe orgai1isJl￿Jl rryisiered choril) ¢onwny lin]iled by Èu#rani¢L'. IhTr 8oveiniLI8 doou)￿nI ih
MeJ)Y)r4nduni aDd Articles of A&so¢iaiion and wc arc ￿81.￿tered with t1￿ Ctiarily c￿n￿li**i0￿.
The Trn51LX"s sre resFK¥nsibk th¢ gencrnl ￿￿[ 8dmi"ni$irntiTri of Trie P(wry ArchivL'. I￿luding
gernYAI ￿11¢¥ and ￿￿1￿81L plaLIIIiIJ8.
Tnts￿¢S can br aprATrinled ot te-app)inleil by ihc Meml)crs ([￿-[niSt￿5 and E.X¢Liiliv¢ D"treeiorsl subjeei io Ih¢
condilions sel nLII in ihe Articles ol- AsxKialirn. and olso by op¢ii reinJitniLml Iliiougli advcMisiii@ ocro.is 11
UK. Every TTr]siee is apNJinled for rt Icrm of thr¢L' ycats a￿1 a reiirin8 Tnistec ￿ eli&ibl¥ lo bc re-eleclcd for a
sccoiid lttm DI IhrL* yeats bill Imusl theii sland IIDW unless all n￿n￿e[S of Il* coniparÈy i8rL¢ lo * Iliird ierni.
Neiv T[L15[C￿ releive an i1￿￿et10&} lo the workiiigs i?f il]v Lhan"iy and aji inth￿Ti￿) pack ofilie ktry d￿lin￿lIS.
'rYU￿eel 4VL. k¢pi aiYea$l of LhtMigL% Lll rL'lewLni w￿lic¢ as rKcesthry.
8. Referehcr and Admiftlslrntii'È drt*ll* are i￿l￿ded iii the ￿8* lo Ihis rcpoFL
T]￿re dre FK) exejnwions dis¢lw1￿ I￿1 Th) cusl(Klian IDJsttrs lJehAII"Df odier
25
The iinnual repoil wts approvL•d by ihc Irwltts ol. Ik. ¢l¥riiy on... ...
. nnd sig￿1 lin iL% ￿h￿irbY.
Robcn Willilin 8eAtler- Cliair
Tmsttt
Amy W￿lIk
TnLslee
Pa8¢ 6

The Poety Arehlvt
Statement ofTru￿ta, Resp0a￿ultIeS
th¢ IT￿¢￿. GDu￿.1*1 xc0rd￿ 4yhc*bk I*w •lMI Unli
of ihe stat¢ of affain of the c(rywy •MI of re¥￿￿ and ol" Tesrytrm.
' silte wlth 4pplic•bl¢ •CLx¥dw FRS IW2 Tr*¢ll fdknTrYd. sthj'cd io
C￿ritt￿le tum￿nY will C￿lIra)e in
hny time P￿111￿ dwnthble •tyJ amble them the rim￿1￿1 sl•iements
ly with tt* Comwirn Art 2(￿ Tky wt •150 ¥lt8u¥dM¥ of thr chaTiiabk
collyiy *￿E hcnce for Lqkits8 rr•suMW. 5*ps fLK 11¢ d¢*all￿ of frMMI otl*r irr¢gularnies.
lix1￿ on the ihm.mble Ixgi4th1 Ihe *MI dismi11￿1￿ or
rin*Thl n*y ditter fn¥n kpkniirn iii ¢xIKY
Yi8wJ tthirty..
Wilh*n Se¥¢tr-
I"nMtce
TnN¢r
P•F7

The Poetrn. ArchiTre
Independent Examiner's Report to the trustees of The Poetr) Archii"e ('the Compan> )
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March
2024.
Responsibilities and basis of report
As the charity's trusiees of the Company (and also its direclors for the purposes of company la￿} you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the
2006 Act.).
Having satisfied myself thai the accounts of the Company are noi required lo be audited under Part 16 of the 7006
Act and are eligible for independeni examinaiion. I retMIrt in respect of Jny examination of your charity's accounts as
carried out under seciion 145 of the Chariiies Aci 2011 1.the ?0 I l Act.). In carrying out ms, examination I have
followed the Directions given by the Charity Commission under section 145(5)(b) of the 201 l Acl.
Independent examiner's statemen¢
I hai'c comple(ed MN, examination. I confirni that no matters have come io my attention in connection with the
examinaiion giving me cause io believe-
accounting records were noi kept in respeci of The Poeiry Archive as required by 5￿tion 386 of the 2006 Act:
or
2. the accounts do not 3ccord with those records: or
3. the accounts do not comply with the accounting requirements of seciion 396 of the 2006 Act other than any
requirement that the accounts give a 'true and fair vic￿ which 15 not a matter considered as part of an
independent examination: or
4. the accounts have noi been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting bv charilies [applicable 10 chariiies preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)].
I have no concerns and have come across no other matters in conneclion with the examinaiion to which atlention
should be drdwn in this report in order io enable a proper understhnding of the accounts io be reached.
David Tucker ACA FCCA
Thompson Jenner LLP
I Colleton Crescent
Exeter
Devon
EX? 4DG
Date-.
Q.cW w2*.
Page 8

The Poetry Archive
Statement of Financial Actii'ities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statcment of Total Recognised Gains and
Losses)
Total
2024
Unrestrieted
Restricted
Note
Income from:
Donaiions and legacies
Charilable activities
Investment income
Other income
48.219
61.289
2.515
1.389
48,219
48,539
2.515
2.077
87.250
688
Total Income
113.412
87.938
201.350
Expenditure on:
Raising funds
Charitable activities
11.466)
(76.926)
(1.022)
(53.722)
(2.488)
(130.648)
Total Expenditure
(78.392)
(54.7441
(lii.136)
Nei income
3).194
Nei movement in funds
35.020
33.194
68.214
Reconcillation of fund5
Toial fi]nds broughi forward
88.816
7.000
95,816
Total funds carried forward
20
123.8J6
40.194
The notes on pages 12 to 26 forni an integral part of these financial statements.
Page 9

The Poetr), Archii'e
Statement of Financial ActiTr'ities for the Year F.nded 31 .N1arch 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Comparative Statement of Financial Activities for the Ye2r Ended 31 March 2023
Total
2023
Unrestricied
Restricled
Note
Income from:
Donations and legacies
Charitable aetivities
Investment income
Other income
10.343
10.946
580
10.343
160,168
580
2,628
49.222
797
Total Income
123.700
50.019
173.719
Expenditure on:
Raising funds
Charitable activities
(25.085)
(95.448)
{730}
147,280)
(25,815)
(142.728)
Total Expenditure
{120.533)
{48.010)
(168.543)
Nei income
3.167
?.009
5.176
Nei movement in funds
i.167
!.009
5,176
Reconciliation of funds
To￿[ funds brough( forward
85.649
4.991
90.640
Tothl funds carried forward
20
88.816
7.000
95.816
All of the charitV'5 activities derive from conlinuing operdtions during the above two periods.
The funds breakdown for 2023 is shown in note 20.
The notes on pages 12 to 26 fornj an integral part of these financial sthtements.
Page 10

The Poetry Ar¢hiTr'e
(Registration number: 0433604?
Balance Sheet as at 31 ,￿laTch ?024
2024
2023
Nole
Fixed as$ttS
Iniangible assels
Tangible &%se(s
3.668
560
7.334
16
4.228
8.453
Current assets
Dcbtors
17
3.225
4. 136
CL%h ai bank and in hand
18
168.753
92.989
171.978
97.125
Creditors: Amounts f*lling due within one ve•r
19
112.1761
19.7621
et current as5¢t5
159.802
87.363
Net #sseis
164.030
95.816
Funds of the charity:
Restrirted incorne funds
RL4iriLlid lund
40. 194
LFnrestricted income funds
Llnrcstricicd funds
123.836
88.816
Total funds
20
164.030
95.816
For the rtnanc221)'ear ending 31 March 10?4 tht charit). was entitled to exemption fm awjit wthr seaJ(bn 477
of the Cornpanies Aa 2(KJ6 relaiing 10 small companies.
Directors. reswnsibiliiies..
Thc rnmb¢t5 havc noi WViTvd the ¢harif)' io obthin m audit of its xcounts for thc year in q￿￿10n in
a¢¢or03n¢¢ with sect￿n 476. and
The director5 xkrKbwl¢dge iheiT fcsTK)n5ibililie5 for complying wilh the reqUIre￿￿￿ls of Aa *iih Tespe
10 accounting records and the PTcparnion ofK¢oums
The financial sM¢meTris on pages 9 10 26 were approvcd bv the tnwtts. and auttKTrnsed for issut on
yk.Il:.l*. x¥d.,￿Ul ofj thrir kh￿fbY.
TnLSttt
Th¢ noies oth w¢$ 12 lo 26 form an inlcgral of these financia] Stare￿15.
Pagtll

The Poetry Archii'e
Notes to the Financial Statements for the Year Ended 31 imarch 2024
I ChaTitV Status
The charity is limited by guarantee. incorporaied in England and Wales. and consequently does noi have share
capithl. Each of the trustees is liable to contribute an arnount not exceeding £ l towards the assets of the charity in
the event of liquidation.
The address of its registered ofrice is:
Exeter Phoenix
Gandy Street
Exeter
EX43LS
2 Accounting policies
Statement of compliance
The financial siaiemenis have been prepared in accordance with Accounting and Reponing by Charilie5'. Statement
of Recommended Practice {applicable to charities preparing iheir accounts in accordance with the Financial
Reportino
Standard applicable in the UK and Rcpublic of Ireland (FRS 102)) {issued in October 2019) - (Chariiies
SORP {FRS 102)}, the Financial Reporting SLindard applicable in the UK and Republic of Ireland (FRS 102) and
the Companies Aet ?006.
Basis of preparation
The Poetry Archive meets the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially
recognised al hisiorical cosi or trdnsaction value unless othen4.ise sthied in the relevant accounting policy noles.
Going concern
The trusiees consider that there are no material uncenainiies al)out the charity's abilitv to continue as a going
concern nor an%. significant are&8 of uncertainty thal affeci ihe carrying value of assets held by the charity.
Mana(Fement Accounts are examined on a monthly basis and forecasts amended to ensure expendilure remains
pavable on demand and the organisaiion can react Swiftly and effeciivelv (o ihreats and opportuniries.
Income and endowments
All incotne is recognised once the charit), has enlitlernent to the income. li is probable thai the income will be
received and the amount of the incom¢ receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been nolified in writing of both the amount and settlement date. In
the event thal a donaiion is subjeci to conditions ihat require a level of perfomiance by the charity before the charity
is entitled to the funds. the income is deferred and not recognised uniil eiiher those cotkditions are fullv met. or the
fulfilmeni of those conditions is wholly within the control of the charity and it is probable thai ihcsc conditions will
be fulfilled in the rerK)rting period.
Ini'eslmenl income
Interest is recognised on an accruals basis.
Page 12

Tbe PoetTh Archii'e
Notes to the Financial Statements for the Year Ended 31 March 2024
Expenditure
All expendiNre is recognised once there is a legal or constructive obligation 10 that expendilure. il is probable
settlement is required and the amouni can be measured reliably. All costs are allocated io the applicable expenditure
heading thal a￿Oregate similar costs to that caiegory. Where costs cannot be direcilv attribuied to particular headings
thev have been allocaled on a basis consisieni with the use of resources. with centrdl staff costs allocaied on the
basis of time 5penl. and depreciaiion charges allocated on the portion of the asset's Use. Other support costs are
allocaied based on the spread of siaff costs.
Raisingfunds
These are costs incurred in attracting volunthry income. the managemeni of investments and those incurred in
trading aciivities thai raise funds.
Cliariioble ociii'iiies
Charitable expendilure COTnprises ihose costs incurred by the charity in ihe delivery of its activilies and services for
its beneficiaries. It includes both costs thaE can be allocated direcily io such aciivilies and those costs of aTk indirect
naiure necessary io support them.
Support costs
Suppon cosis include central functions and have been allocated io activity Cost categorie5 on a basis ¢on5iSteni with
the use of r¢sour¢¢s.
Governance costs
These include the costs attributable io the charity's compliance with constitutional and statutory requirements,
including audit. strdiegic management and trusiees meeiings and reimbursed expenses.
Taxation
ThL ¢harity is considered to pass the iesls set out in Paragrdph I Schedule 6 of the Finance Act 201 O and therefore it
meets the definitiorE of a charitable company for UK corporation tax purw5es. Accordingly. the charity. is potentially
exempl from I￿ation in respect of income or capital gains received within caiegorie5 covered b! Chapter 3 Part I I
of the Corporation Act ?0 l O or Seclion 256 of the T￿atIOn of Chargeable Gains Act 1992. 10 the extent that
such income or gains are applied exclusivel). to charitable purposes.
Intangible assets
Iniangible assets are sthted in the Balance Sheei ai cost les5 accurnulaled amortisation and impairment. They are
amortised on a strdighi line basis over their eslimated useful lives.
Tangible fixed assets
Indii'idual fixcd a55et5 Costing £ I.000.00 or more are initially recorded at cost.
Page 13

The Poetrv Archive
otes to the Financial Statements for Ihe Year Ended 31 March 2024
Heritage assets
The poetry archiie maintained by the ehari(N' is considercd to meei the definition of a herilage asset relating to the
historic and artistic qualilies ihai are maintained principally for their contribution io knowledge and culture. The
poetry archive is accessible 10 the public through the charities websiie.
In accordance with the Charities SORP (FRS 102) the rrfyetry archive has not been recognised as an a55et on the
balance sheei due to the limitations of valuation methods from the availability of inforniation around the artistic
nature of the asset without undue cost ihai would not be justified by the usefvlness of the informalion to the users of
the accounts and io the chariry for its slewardship purposes.
Amortisation
Arnorlisaiion is provided on inthngible fixed assets so as Io WTite off the cosL less any estimaied residual value. over
their expected useful economic life as follows=
Asset elass
'ebsite
Amortisation method and rate
33010 straight line
Depreciation and amortisation
Depreciaiion is pro￿ ided on tangible fixed &8sets so as to write off the cost or valuation. less any estimated residual
value. over their expected useful economic life as follows:
Asset class
Compuier equipmenl
Deprecistion method rate
ii o straiohi line
Trade debtor5
Trade debtors are amounts due from customers for merchandise sold or services perfomed in ihe ordinary course of
business.
Trade debtors are recognised initially ai the transaclion price. They are subsequenil). measured at amonised cost
using the effective interest method. less proN'ision for impaimleni. A provision for the impairnient of trade debtors is
established when there is objeclive evidence that the chariTh' will not be able to collect all amounis due according to
the original term5 of the receivables.
Cash and cash eqllivAlents
Cash and cash cquivalenis comprise cash on hand and call deposiis. and o(her short-temi highly liquid investmenTS
thai are readily conienible (o a knowi amount of cash and are subjeci io an insignificant risk of change in value.
Page 14

The Poetry ArchiTre
otes to the Financial Statements for the Year Ended 31 March 2024
Trade creditors
Trade ¢reditors are obli£aiions lo pa). for go(Kls or Services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as curreni liabilities if the charity does not have an
unconditional right, at the end of the reporting period. io defer sertlemenl of the creditor for at least twelve monihs
after the reporting date. If there is an uncondiiional right to defer settlement for at lelst twelve months after the
reporting dale. they are presented &$ non-current liabilities.
Trade crediiors are recognised initially at the transaction price and subsequently rneasured at amorti5ed cost using
the effective interesi meth(Kl.
Foreign exchange
Transacrions in loreign currencies are recorded at the rate ofexchange at the date of the transaction. Monetary assets
and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange
prevailine ai thai daie.
Fund slrueture
UnFcs(ricted income fiinds are general fi￿d5 that are available for use at the trustees discretion in fiirtherance of the
objectives of the charity.
Restricted income fimds are those donated for use in a particular area or for specific purposes. the use of which is
restricied lo thai area or purpose.
Pensions and other post retirement obligations
The charity. operaies a defined contribuiion pension Scheme which is a pension plan under which fixed contributions
are paid into a pension fund and the chariry has no legal or consiruciive obligation to pa). further contributions even
if The fund does noi hold sufficient assets to pay all employees the benefits relating to employee service in the
current and prior periods.
Contributions io defined coniribuiion plans are recognised in the S￿lemen[ of Financial Activities when ihey are
due. If contribution payments exceed the contribulion dLEe for Service. the excess is recognised as a prepayment.
Financial in5trument5
Clussifiealion
Financial assets and financial liabilities are recognised when the charity be¢ornes a party to the contractual
provisions of the instrumeni.
Financial liabilities and equity instryments are Classified according lo the Sub5￿ce of the contracwal arrangements
entered into. An equity in5trumeni is any contraci that evidences a residual interest in the assets of the charity after
deducting all of its liabilities.
Page 15

The Poetrv Archii'e
otes to the Financial Statements for the Year Ended 31 March 2024
Recognilion andmeasuremenl
All financial asse￿ and liabilities are inilially measured ai transaction price (including transaction costs). except for
those finmncial assets classified as ai fair value through profit or loss. which are initiallv measured ai fair value
(which is norn)allv Ihe transaction price excluding trdnsaction costs}. unless the arrangement eonsiiluies a financing
transaction. If an arranoement Conslitutes a financing Iransac(ion. the financial asset or financial liabiliry is measured
at the present value of the future paiThents discoun(ed ai a markei rdie of inieresi for a similar debi insirument.
Financial assets and liabilities are only otTsei in the statemeni of financial position when, and only when there exists
a legally enforceable right lo set off the recognised amounts and the charity intends either to settle on a net b&5i5. or
to realise the assei and settle the liabiliN simulianeously.
Financial assets are derecognised when and only when a) the conlrdctual rights lo the cash flows from the financial
asset expire or are settled. b) thc charity transfers to anoiher part). substantially all of the risk5 and reward5 of
owiership of the financial assei. or cl the charity, despite having retained some. bui noi all. significani risks and
rewards of owiership, has transferred control of the asset to another party.
Financial liabililies are derecognised only when the obligation specified in the eontrdct is discharged. cancelled or
expires.
3 Income from donations
Unrcstrietcd
funds
General
Total
2024
Total
2023
Donations and legacies-
Generdl donation5
Patrons
5.708
4?.511
5.708
42.51
5.187
5.156
48.)19
10.343
Page 16

The Poetry ArchiTre
otes to the Financial Statements for the Year Ended 31 March 2024
4 Income from charitable activities
Total
Total
Unrestricted
Restricted
2024
2023
Arts Council England
The Full English
Garfield Weston Foundation
59.489
59.489
137,798
1.8
1.800
2.370
20.oc
20.000
20.000
Foyle
National Hertiage Lottery Fund
Cause 4
20.000
20.000
42.950
4?.950
4.300
4.300
2024 Ineome from eharitable activites
87.250
148,539
160.168
2023 Income from ch4rilobl¢ ¥ctivilcs
110.946
49.222
160.168
5 Investment income
Unreslricted
fund5
General
Tot41
2024
Total
2023
Inieresi receivable and similar income:
Interesl receivable on bank deposits
2,515
2.515
580
Page 17

The PoetTh' Arcbiie
,Notes to tbe Financial Siatements for the Year Ended 31 Nlarch 2024
6 Other income
Unrestricted
Tolal
2024
Total
2023
General
Restricted
Fees and supplies
1.389
688
2,077
2,628
Other income is £2.077 {2023.. £2.628) of which £1.389 (2023: £1.831) was unrestricted and £688 12023.. 797) was
restrithed.
7 Analvsis ofexpendilure
Total
Total
Unrestricted
Restricied
2024
2023
Direet Costs
Cosi of recordings
Cost of website
7,606
1.520
4.075
11,681
18.232
29,872
18.299
12,300
6.712
6.536
Subcontractor costs
6.536
Grants payable
Cost of raising funds
OTrerheads
22.986
1.022
24.008
25.815
Reni and raies
4.230
4.230
4.776
Travelling expenses
Trdining costs
Other offi¢e costs
95
78
173
323
2,300
196
537
733
448
Telephone and computer
Bank Charges and inieresi
Other staff costs
2.666
.224
3.890
3.165
319
319
352
14.508
34.341
48.849
52.137
Professional fees
9.162
9.162
12.361
Depreciation and amortisation
General expenses
Total expenditure 2024
4.225
4.225
5.233
879
219
1.098
1.162
78,392
54.744
133.136
168.543
Total expendilure 2023
120.533
48.010
168.54i
Page 18

The PoetTh' ArchiTr'e
Notes to the Financial Statements for the Year Ended 31 ￿larch 2024
8 Analvsis of governance eosts
Governance costs
Unrestricted
runds
General
Total
2024
Total
2023
Audit fees
Audit of the financial statements
Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Other governance cosis
4.234
3,120
420
429
3.120
420
429
70
3.969
3,969
9 Net incomingloutgoing resources
N¢L iiiLUIILiiig I'c50urc¢5 for the y.ear includc=
2024
2023
Audit fees
Deprecialion and amortisation of fixed assets
4.234
5.233
4.?25
10 Trustees remuneration and expenses
No trustees. nor any person5 connecied with them. have received any remuneration from the charity during the year.
No truslees have received any reimbursed expenses or any other benefsts from the charity during the year.
Page 19

The Poctrv Archive
Notes to the Financial Statements for the Year Ended 31 March 2024
I I Staff costs
The aggregate payroll costs were &$ follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Social security COSIS
Pension costs
68.474
684
72.884
2.013
70.369
The monthly avernge number of persons {in¢luding senior managemeni team) employed by the charity during the
year was as follows..
2024
2023
Employees
2 (2023 - 2) of the above employees participated in the Deftned Contribution Pension Schemes.
No employee received emoluments of more than £60.000 during the year.
The total employee benefits of the key managemeni personnel of the charity were £43.040 (2023 - £52.184).
12 Independent examiner's remuneration
2024
2023
Examination of the financial 5tstements
3.120
Other fees to exgminers
All other assurdnce services
420
13 Auditors, remuneration
2024
2023
Audit of the financial staiements
4.234
Page 20

The Poetry Archive
Notes to the Financial Slatements for the Year Ended 31 March 2024
14 Taxation
The charitable company is exempt from corporation tax as all its income is charithble and applied for charithble
purpose5.
15 Intangible fixed 45sets
Website
Tot21
Cost
Ai l April 2023
14.024
14.024
At 31 March ?024
14,024
14.024
Amortlsation
At l April 2023
Charge for the year
6,690
3.666
6.690
3.666
Ai 31 March 2024
10.356
10.356
Net book value
Ai 31 Mar¢h 2024
3.668
3.668
At 31 March 2023
7.ii4
Amortisation of intangible fixed &8sets is included in expenditure on charitable activities.
Page21

The Poetn, Archive
riotes to the Financial Statements for the Year Ended 31 %larch 2024
16 Tangible fixed assets
Computer
equipmenl
Tot41
Cost
At l April 2023
.678
1.678
At 31 March 2024
,678
1,678
Deprecigtion
At l April 2023
Charge for the year
559
559
559
559
At 31 March 2024
Yet book value
At 31 March 2024
560
560
At 31 March 2023
1.119
17 Debtors
2024
2023
Trade debtors
Prepayments
932
3.204
i.225
3.2?5
4,136
18 Cash and cash equivalents
?024
2023
C￿h at bank
168.753
92.989
19 Creditors: 4mounts falling due within one year
2024
2023
Trade creditors
Oiher taxation and social security
Other creditors
Accruals
4.266
.500
.208
207
6.510
7.054
12.176
9.762
Page 22

The Poetrv Archii'e
riotes to the Financial Statements for the Year Ended 31 March 2024
20 Funds
Balance xt
April 2023
Incoming
resources
Resources
expended
Balance at 31
March 2024
Unrestricted funds
General
General Funds
Arts Council England
81.482
53.923
59.489
(15 ?i7}
(59.489}
120.168
81.48?
13.412
(74.726)
120.168
De5iRnuted
Website depreciation fund
7.334
(3.666)
3.668
Total unrestricted funds
88.816
113.412
(78.392)
123,836
Restricted funds
Garfield Wesion Foundalion
Poety bj Heart
National Heritage Lottery Fund
Foyle
Compass
5.737
1.263
20.000
688
42.950
(25.737)
1.951
28.883
5.726
3.634
(14.067}
(14.?74)
(6661
4.300
Total restricted funds
7.000
87.938
154.744)
40.194
Total funds
95.816
201.350
(133,536)
164.030
Page 23

The Poetry Arehii'e
otes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 March
2023
Balance al
April 2022
Incoming
resources
Resources
expended
Trnnsfers
Unrestricted funds
General
General Funds
59.641
123,700
(100.459)
(1.400)
81,482
Designaled
Website depreciation fund
M Pigott fund
10.608
15,400
(4.674)
(15.400)
.400
7.334
26.008
(20.074)
.400
7.334
Total unrestrieted funds
85.649
123,700
{120.5i3)
88.816
Restricted
Obsidian {ACE)
Garfield Weston Foundation
TS Elioi
Poety by Heart
(574)
29.222
20.000
{28.648)
{14.26J)
(5.099)
5.737
5.099
466
797
1.263
Toial restricied fund5
4.991
50.019
(48.010)
7.000
Total funds
90.640
173.719
(168.54J)
95.816
Page 24

The Poetry Archive
otes to the Financial statement.s for the Year Ended 31 ,%1arch 2024
The specific purposes for which the funds are to be applied are as follows:
Arts Council England: Provided Unrestricted Trdnsition Funding from National Portfolio Progrdmme toward5 Core
general costs belween April and October 2023.
National Heritage Lortery Fund.. Grani funding to create a new colleciion of Poety of India atkd to undertake core.
websiie and caialoouing development as pan ofdevelopmenL and creaiion of Volunieer programme.
Foyle.. Grani to contribuie to the core costs of creating a collection of British Sign Language Poetry. plus support
from BSL translators and film-makers
Compass.. A grant lowards core costs of developing a Fundraising and Membership plan.
Garfield Weston Foundation - Children - provided funding for core and external costs relating to the development of
a new Membership progrdmme with 5talTto deliver.
T S Eliot Foundaiion provide annual funding and support to record and display TS Eliot Poety Prizewinners in a
collection.
Poetry Bv Heart income from the royalties due from the dedicated anthology of poetry creaied for the Poetry by
Heart National Recital Cotnpelition. Poetry Archive are a member of a consortia delivering this prestigious annual
competition (funded by the Departmeni for Education).
Page 25

The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2024
21 Analvsis of net asset5 beti*een fund5
Total funds at
31 March
2024
Llnrestricted funds
General
DesiRnated
Restricted
funds
Inlangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
3.668
560
131.784
(1? 176)
560
171.978
(12,176)
40.194
Total net assets
120.168
3,668
40.194
164.030
Tot21 funds at
31 Mareh
2023
Linrestricted funds
General
Designated
Restricted
funds
Intangible fixed &8sets
Tangible fixed assets
Current assets
Current liabilities
7.334
7.334
1,119
97.125
(9.76?)
90.125
(9.762)
7.000
Total nei assets
81.482
7.334
7.000
95.816
22 Relat￿ pgrty transgctions
There were no related party transathions in the year.
Page 26