Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
Company registration number: 04336052 Charity registration number: 1093858
The Poetry Archive
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025
Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Chair's Report | 2 |
| Trustees' Report | 3 to 6 |
| Statement of Trustees' Responsibilities | 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 to 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 to 23 |
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Reference and Administrative Details
| Trustees | Robert William Seatter - Chair |
|---|---|
| Imtiaz Dharker | |
| Amy Walker | |
| Lavinia Caroline Osborne Singer | |
| Stephen Cleary | |
| Ben Murray | |
| Julia Mary Bird | |
| Secretary | Tracey Guiry |
| Charity Registration Number | 1093858 |
| Company Registration Number | 04336052 |
| The charity is incorporated in England and Wales. | |
| Registered Office | Exeter Phoenix |
| Gandy Street | |
| Exeter | |
| EX4 3LS | |
| Independent Examiner | Thompson Jenner LLP |
| Chartered Accountants | |
| 1 Colleton Crescent | |
| Exeter | |
| Devon | |
| EX2 4DG | |
| Solicitors: | Bates, Wells and Braithwaite LLP |
| Bankers | HSBC Bank plc |
| Triodos Bank | |
| CAF Bank Ltd |
Page 1
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Chair's Report for the Year Ended 31 March 2025
The Poetry Archive is the only charity which makes and shares audio recordings of poetry by the poet themselves, and is a treasured and unique resource across the UK and Internationally. In an increasingly uncertain and challenging environment our priority remains to secure the collections for the long-term and focus on our financial sustainability and resilience.
Millions of visitors come to our websites each year to hear our original recordings of poet’s voices. We aim to reflect the poetic zeitgeist of our age as a nationally significant resource for existing and future generations. We We rely on our fundraising to maintain and grow the Archive’s collections to ensure we continue to reflect contemporary poetry as well as holding a unique legacy of those poets who have gone before.
We are grateful to have been successful in receiving funds from Trusts and Foundations for new recordings and project development. Thanks to our Members, donors, and to our grant supporters, our poetry remains available free-of-charge to teachers, children, families and the general public, whenever they want to visit. Our education resources support teachers in classrooms with ready-made activity and are visited over 70,000 times a year.
We will continue to seek new projects to ensure we represent all forms of poetry and share these with our ever-growing audiences in the UK and around the world. We will launch a new major archive called ‘The Poetry of South Asia’, and have recently secured funding from National Archives to make our catalogues publicly searchable and to support our aim of reaching accreditation to ensure the Poetry Archive is fit for the future.
......................................... O5FCEB91E08D4B4... Robert Seatter Chair of Trustees
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Trustees' Report
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Robert William Seatter - Chair Imtiaz Dharker Amy Walker Lavinia Caroline Osborne Singer Stephen Cleary Ben Murray Julia Mary Bird (appointed 20 January 2025) Secretary: Tracey Guiry
Trustees under Charity Law, who are also the Directors under Company Law, present their report and the financial statements of the company for the year ended 31 March 2025. This report has been prepared in accordance with the special provisions relating to small companies, subject to the small companies regime within part 15 of the Companies Act 2006.
The organisation is a charitable company limited by guarantee, incorporated on 7 December 2001 (registration number 04336052) and registered as a charity on 19 September 2002 (charity number 1093858). The Poetry Archive is governed by its Memorandum and Articles of Association. The Memorandum and Articles have since been updated, the latest amendment being adopted in April 2012.
1. Objectives and Activities
The Poetry Archive believe poetry is for everyone. Poetry read in the unique voice of the poets themselves is unlike anything else. The Poetry Archive is the only UK charity wholly dedicated to making and sharing audio recordings of poetry in the author’s voice. We share this poetry free-of-charge through our websites at www.poetryarchive.org and www.childrens.poetryarchive.org. We now hold one of the richest and unique collections of original recordings of poetry in the UK, with over 20,000 poems by more than 800 poets to explore.
With support from our Members, Patrons and kind donors, alongside Trusts and Foundations, we have been able to continue to provide access to our collections of poetry free-of-charge to the public and the communities we work with. Maintaining free access to our poetry is a priority of the organisation and we attract over 5 million visits per year to this free resource. We continue to appeal to the visitors who enjoy and use our collections for their support to enable us to keep this uniquely valuable resource accessible.
Our collections are not a static archive, but one which is constantly growing to reflect the quality and diversity of contemporary poets of our age as well as those who went before them. We display our poetry recordings online, surrounded by contextual information, films, interviews, themed collections and podcasts in order to inspire and facilitate a deeper and more accessible exploration of the poetry we care for.
Our digital nature ensures we can be maintained by a small core team, augmented by specialist freelancers. We commit to keep nationally and internationally significant poetry recordings, interviews and contextual information safe for the benefit of educators, students, researchers, poets, audiences and communities.
The Poetry Archive continues to preserve the voices of poets reading their own work, so that future generations and contemporary visitors can continue to learn from these unique artefacts. In the coming year we will be focusing on the Children’s Poetry Archive, which currently attracts around 2 million visits each year. Our aim is to provide free access to original poetry in the voice of the poet to children wherever they are. Our websites will be refreshed to ensure they provide easy access to poetry and to our ever-growing catalogue of archived audio recordings. We remain committed to reflecting as wide a representation of the poetry of our age as possible and our values are through the diversity and range of the poetry we keep from around the world.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Trustees' Report
Public Benefit
In the furtherance of The Poetry Archive’s aims, the Directors, as the Charity Trustees, have complied with the duty in S.17 of the Charities Action 2011 to have due regard to the Charity Commission’s published general and relevant sub sector guidance concerning the operation of the Public Benefit requirement under that Act by providing a free online service to the public worldwide.
2. Achievements and Performance – achievements, projects and impacts
A key project this year has been the development of a major Keystone archive called ‘The Poetry of South Asia’, with kind support from National Heritage Lottery Fund. This collection aims to reflect the wide and vibrant legacy which poetry from this region has brought to the world and we have included voices from India, Pakistan, Bangladesh, Sri Lanka, Ghana and from the diaspora in Australia, Canada, US alongside UK poets.
We launched the archive for British Sign Language poetry in collaboration with the British Deaf Association and each year sees the new Deaf Poet Laureate showcase their work. With support from Garfield Weston we have refreshed and renewed our Membership Scheme, and we are growing the income we are able to make from memberships and through our unique IP and licences to use our recordings.
Our digital nature enables us to be flexible and fleet-footed and we have reduced all possible operational costs whilst we continue to meet our quality standards in archiving and in poetry curation. Poetry is for everyone, and we use digital technology to increase the quality, amount and reach of our poetry recordings. We do not condone or allow the use of any part of our collections for the training of AI systems, The copyright control over our poet’s poetry remains solely with them, and we are proud that we always pay poets for the privilege of holding their work, and hope all other poetry organisations do the same.
Our new Volunteer scheme introduced 52 new volunteers to help with our website updating, content curation, transcriptions and biography research. Input from volunteers both supports our work and also widens the impact which our collections and archive can have by introducing many more voices and perspectives to our decision making.
We supported the poet Laura Mucha to break a Guiness World Record for the largest single poetry lesson, which saw over 100,000 children attend an online lesson and create a new poem which is held in the Archive.
This year we initiated a series of online events to celebrate our poets through reading and discussion, we have launched a successful volunteer programme which has seen over 68 hours of poetry research and transcribing undertaken. This year, following the launch of the Poetry of South Asia, we will then focus on our Poetry Archive Now 2025 open call for poetry, and also to add new children’s poets and poetry to the Children’s Poetry Archive.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Trustees' Report
Website and Visitors
Both www.poetryarchive.org and www.childrens.poetryarchive.org have maintained their visitor number growth throughout the year and now attract over 5 million page-views per year (more than 65 million page views since we began our website in 2005). We have redesigned the website with a faster and more intuitive search function. Each visitor is now able to use keywords to call up ALL relevant content held across our whole collection, and we still have over 5000 pages of information to tag into the catalogue this year. This search method demonstrates the full depth and richness of our collections and feedback tells us it also introduces visitors to new poetry through tangential links to their original search.
Recording Programme 2024/2025
We closely manage and protect our ‘gold standard’ practice of creating professional audio recordings to ensure our recordings can best stand the test of time. This year we are working with a professional archivist with support from the National Archives to bring our collection data and archiving practice to the highest possible standards, including Accreditation. We will publish our full catalogue, which is now supported with a refreshed web search facility.
With support from National Heritage Lottery Fund we have made recordings of poets with a South Asian cultural background. The collection will be opened to the public from May 31st 2025.
Poetry Archive Now! 2023 continued our long-standing project which is now a part of the poetry landscape. This project opens the Archive to new and established poet’s voices from around the world. 2023 attracted over 250 entries from around the world. The whole collection has now been viewed on our YouTube channel more than 95,000 times.
3. Plans for the future
Audience and Communities Engagement : We will continue to focus on diversity and accessibility in the choices we make around the poets we record, the content we create and the interactions we foster with audiences and partners. Each year we will launch a Keystone Collection, an exhibition of poetry recordings under a theme which we explore in greater detail with contextual and interpretative materials and education resources.
Education Development : We want to provide opportunities for every child and young person, their parents, and those who teach them to experience poetry as an enjoyable and enriching part of their lives, inside and outside the classroom. This year we began our focus on British Sign Language poetry resources and are preparing for our next Keystone Collection launch around poetry of India.
Organizational Resilience/Membership Scheme : We will strengthen our financial and operational stability thought the development of our Membership Scheme (funded by Garfield Weston), visitor interactions and new volunteer training scheme (funded by National Heritage Lottery Fund). Volunteer programmes will support us to grow our capacity whist sustaining core activities and our Membership Scheme offers new membership entry levels from £10 to £120 per year to enable as many people as possible to support us.
International Development : We want to reach out to our International poets, partners and communities to develop new content to enrich our collections and our visitors’ experience. We will invite International archives to join our searchable database of poetry recordings, ensuring that these resources are identified and cared for.
4. Financial Review
The Charity’s incoming and outgoing resources are summarised in the statement of financial activities in the following pages with further detail provided within the notes.
Garfield Weston project closed after a 2 year project to refresh and renew our Membership Scheme to transfer to a member-led organisation and to grow our international collections and networks.
Donation Income came from donors through our website (with Gift Aid calculated through CAF Bank donations management), and from our redesigned and relaunched membership Scheme.
5. Reserves Policy
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Trustees' Report
The Charity’s reserves policy is to hold a level of free reserves equal to three months core operational expenditure, which would be equal to approximately £30,000 as an adequate figure to cover any unforeseen expenditure that may arise from closure.
6. Financial and Risk management
Income and expenditure are monitored by the Finance Committee and scrutinised quarterly at Finance Committee meetings. Recommendations are made by the Finance Committee to the Board who scrutinise all management accounts at their quarterly meetings. The Board of Trustees at the most recent review has indicated that forward budgets will enable the Charity to carry out its planned activities during the forthcoming year. Fundraising continues under the Director and the Charity continues its strict policy of not committing funds until they have been received or promised.
The Board of Trustees also carry out a quarterly update of the Risk Review and undertake a detailed analysis. Risks are identified and appropriate steps are taken to limit those risks as far as is possible. Responsibility to action mitigation is delegated to the Director.
7. Structure, governance and management
The organisation is a registered charity and company limited by guarantee. Our governing document is Memorandum and Articles of Association and we are registered with the Charity Commission.
The Trustees are responsible for the general management and administration of The Poetry Archive, including general policy and strategic planning.
Trustees can be appointed or re-appointed by the Members (the Trustees and Executive Directors) subject to the conditions set out in the Articles of Association, and also by open recruitment through advertising across the UK. Every Trustee is appointed for a term of three years and a retiring Trustee is eligible to be re-elected for a second term of three years but must then stand down, unless all members of the company agree to a third term. New Trustees receive an induction to the workings of the Charity and an induction pack of the key documents. Trustees are kept abreast of changes in relevant law and practice as necessary.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
Signed by: (Lh ......................................... O5FCEB91E08D4B4... Robert William Seatter - Chair Trustee
......................................... C03702E3D16A4BA... Amy Walker Trustee
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Statement of Trustees' Responsibilities
The trustees (who are also the directors of The Poetry Archive for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
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 its 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 apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can 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 trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
Signed by: (Lh ......................................... O5FCEB91E08D4B4... Robert William Seatter - Chair Trustee
......................................... C03702E3D16A4BA... Amy Walker Trustee
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Independent Examiner's Report to the trustees of The Poetry Archive ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) 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 that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of The Poetry Archive as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... David Tucker ACA FCCA
Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG
11/18/2025 Date:.............................
Page 8
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income 6 Total Income Expenditure on: Raising funds Charitable activities Total Expenditure 7 Net expenditure Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted £ 12,362 1,800 2,523 1,483 18,168 (20,287) (41,463) (61,750) (43,582) 2 (43,580) 123,836 80,256 |
Restricted £ - 53,990 - 525 54,515 (1,266) (55,141) (56,407) (1,892) (2) (1,894) 40,194 38,300 |
Total 2025 £ 12,362 55,790 2,523 2,008 |
|---|---|---|---|
| 72,683 | |||
| (21,553) (96,604) |
|||
| (118,157) | |||
| (45,474) - |
|||
| (45,474) 164,030 |
|||
| 118,556 |
The notes on pages 12 to 23 form an integral part of these financial statements. Page 9
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
Comparative Statement of Financial Activities for the Year Ended 31 March 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income 6 Total Income Expenditure on: Raising funds Charitable activities Total Expenditure 7 Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted £ 48,219 61,289 2,515 1,389 113,412 (1,466) (76,926) (78,392) 35,020 35,020 88,816 123,836 |
Restricted £ - 87,250 - 688 87,938 (1,022) (53,722) (54,744) 33,194 33,194 7,000 40,194 |
Total 2024 £ 48,219 148,539 2,515 2,077 |
|---|---|---|---|
| 201,350 | |||
| (2,488) (130,648) |
|||
| (133,136) | |||
| 68,214 | |||
| 68,214 95,816 |
|||
| 164,030 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 19.
The notes on pages 12 to 23 form an integral part of these financial statements. Page 10
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
(Registration number: 04336052) Balance Sheet as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Intangible assets | 14 | - | 3,668 |
| Tangible assets | 15 | - | 560 |
| - | 4,228 | ||
| Current assets | |||
| Debtors | 16 | 2,060 | 3,225 |
| Cash at bank and in hand | 17 | 124,542 | 168,753 |
| 126,602 | 171,978 | ||
| Creditors: Amounts falling due within one year | 18 | (8,046) | (12,176) |
| Net current assets | 118,556 | 159,802 | |
| Net assets | 118,556 | 164,030 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 38,300 | 40,194 | |
| Unrestricted income funds | |||
| Unrestricted funds | 80,256 | 123,836 | |
| Total funds | 19 | 118,556 | 164,030 |
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 9 to 23 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... | mySignedWalker by: Amy Walker C03702E3D16A4BA... Trustee
The notes on pages 12 to 23 form an integral part of these financial statements. Page 11
Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Exeter Phoenix Gandy Street Exeter EX4 3LS
2 Accounting policies
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Poetry Archive meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
To ensure the charity can continue to deliver its public benefits whilst maintaining the business as a going concern, the Trustees have prepared detailed budgets and forecasts which demonstrate the Poetry Archive retains enough funds to exist in its present form until 31 March 2026. The current budget, which is based on confirmed income streams only, shows that the charity is likely to fall below the level of free reserves needed to remain functioning in its current form in September 2026. This budget is based on prudent assumptions and efforts are being taken to secure alternative funding.
Although uncertainties exist regarding the future funding, the Trustees have determined that the actions they have taken are sufficient to mitigate the uncertainty and have therefore prepared the financial statements on a going concern basis.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Investment income
Interest is recognised on an accruals basis.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Tangible fixed assets
Individual fixed assets costing £1,000.00 or more are initially recorded at cost.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
Heritage assets
The poetry archive maintained by the charity is considered to meet the definition of a heritage asset relating to the historic and artistic qualities that are maintained principally for their contribution to knowledge and culture. The poetry archive is accessible to the public through the charities website.
In accordance with the Charities SORP (FRS 102) the poetry archive has not been recognised as an asset on the balance sheet due to the limitations of valuation methods from the availability of information around the artistic nature of the asset without undue cost that would not be justified by the usefulness of the information to the users of the accounts and to the charity for its own stewardship purposes.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class Website
Amortisation method and rate 33% straight line
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Computer equipment
Depreciation method and rate 33% straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange 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 prevailing at that date.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Income from donations
| Donations and legacies; General donations Patrons |
Unrestricted funds General £ 5,255 7,107 12,362 |
Total 2025 £ 5,255 7,107 12,362 |
Total 2024 £ 5,708 42,511 |
|---|---|---|---|
| 48,219 |
4 Income from charitable activities
| Arts Council England The Full English Garfield Weston Foundation Foyle National Hertiage Lottery Fund Cause 4 National Archives 2025 Income from charitable activites 2024 Income from charitable activites |
Unrestricted £ - 1,800 - - 1,800 61,289 |
Restricted £ - - 34,360 19,630 53,990 87,250 |
Total 2025 £ - 1,800 - - 34,360 - 19,630 55,790 148,539 |
Total 2024 £ 59,489 1,800 20,000 20,000 42,950 4,300 - |
|---|---|---|---|---|
| 148,539 | ||||
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 2,523 |
Total 2025 £ 2,523 |
Total 2024 £ 2,515 |
|---|---|---|---|
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
6 Other income
Unrestricted
| Fees and supplies | General £ 1,483 |
Restricted £ 525 |
Total 2025 £ 2,008 |
Total 2024 £ 2,077 |
|---|---|---|---|---|
Other income is £2,008 (2024: £2,077) of which £1,483 (2024: £1,389) was unrestricted and £525 (2024: £688) was restricted.
7 Analysis of expenditure
| Direct costs Cost of recordings Cost of website Subcontractor costs Cost of raising funds Overheads Rent and rates Travelling expenses Training costs Other office costs Telephone and computer Bank charges and interest Other staff costs Professional fees Depreciation and amortisation General expenses Total expenditure 2025 Total expenditure 2024 |
Unrestricted £ 2,313 8,728 - 20,288 3,658 116 - 94 1,228 401 12,117 7,899 4,228 680 61,750 78,392 |
Restricted £ 3,068 8,008 9,115 1,266 - 1,069 486 83 1,465 31,847 - - - 56,407 54,744 |
Total 2025 £ 5,381 16,736 9,115 21,554 3,658 1,185 486 177 2,693 401 43,964 7,899 4,228 680 118,157 133,136 |
Total 2024 £ 11,681 18,232 6,536 24,008 4,230 173 733 3,890 319 48,849 9,162 4,225 1,098 |
|---|---|---|---|---|
| 133,136 | ||||
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
8 Analysis of governance costs
Governance costs
| Independent examiner fees Examination of the financial statements Other fees paid to examiners Other governance costs |
Unrestricted funds General £ 3,240 - - 3,240 |
Total 2025 £ 3,240 - - 3,240 |
Total 2024 £ 3,120 420 429 |
|---|---|---|---|
| 3,969 |
9 Net incoming/outgoing resources
Net (outgoing)/incoming resources for the year include:
| Depreciation and amortisation of fixed assets | 2025 £ 4,228 |
2024 £ 4,225 |
|---|---|---|
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. During the year ended 31 March 2025, trustees paid membership fees totalling £275 (2024: £nil).
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
11 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2025 £ 61,800 - 1,066 62,866 |
2024 £ 68,474 684 1,211 |
|---|---|---|
| 70,369 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| Employees | 2025 No 3 |
2024 No 3 |
|---|---|---|
2 (2024 - 2) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £37,802 (2024 - £43,040).
12 Independent examiner's remuneration
| Examination of the financial statements Other fees to examiners All other assurance services |
2025 £ 3,240 - |
2024 £ 3,120 |
|---|---|---|
| 420 |
13 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and applied for charitable purposes.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
14 Intangible fixed assets
| Cost At 1 April 2024 At 31 March 2025 Amortisation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Website £ 14,024 14,024 10,356 3,668 14,024 - 3,668 |
Total £ 14,024 |
|---|---|---|
| 14,024 | ||
| 10,356 3,668 |
||
| 14,024 | ||
| - | ||
| 3,668 |
Amortisation of intangible fixed assets is included in expenditure on charitable activities.
15 Tangible fixed assets
| Cost At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 16 Debtors Trade debtors Prepayments |
Computer equipment £ 1,678 |
Total £ 1,678 1,678 1,118 560 1,678 - 560 2024 £ - 3,225 |
||
|---|---|---|---|---|
| 1,678 | ||||
| 1,118 560 |
||||
| 1,678 | ||||
| - | ||||
| 560 | ||||
| 2025 £ 723 1,337 2,060 |
||||
| 3,225 |
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
17 Cash and cash equivalents
| Cash at bank 18 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals |
2025 £ 124,542 2025 £ 1,736 759 - 5,551 8,046 |
2024 £ 168,753 |
|---|---|---|
| 2024 £ 4,266 1,193 207 6,510 |
||
| 12,176 |
19 Funds
| Unrestricted funds General General Funds Designated Website depreciation fund Total unrestricted funds Restricted funds National Heritage Lottery Fund Foyle Compass Poetry by Heart National Archives Total restricted funds Total funds |
Balance at 1 April 2024 £ 120,168 3,668 123,836 28,883 5,726 3,634 1,951 - 40,194 164,030 |
Incoming resources £ 18,168 - 18,168 34,360 - - 525 19,630 54,515 72,683 |
Resources expended £ (58,082) (3,668) (61,750) (45,348) (5,730) (3,628) - (1,701) (56,407) (118,157) |
Transfers £ 2 - 2 - 4 (6) - - (2) - |
Balance at 31 March 2025 £ 80,256 - |
|---|---|---|---|---|---|
| 80,256 | |||||
| 17,895 - - 2,476 17,929 |
|||||
| 38,300 | |||||
| 118,556 |
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
| Unrestricted funds General Arts Council England General Funds Designated Website depreciation fund Total unrestricted funds Restricted Garfield Weston Foundation National Heritage Lottery Fund Foyle Compass Poetry by Heart Total restricted funds Total funds |
Balance at 1 April 2023 £ - 81,482 81,482 7,334 88,816 5,737 - - - 1,263 7,000 95,816 |
Incoming resources £ 59,489 53,923 113,412 - 113,412 20,000 42,950 20,000 4,300 688 87,938 201,350 |
Resources expended £ (59,489) (15,237) (74,726) (3,666) (78,392) (25,737) (14,067) (14,274) (666) - (54,744) (133,136) |
Balance at 31 March 2024 £ - 120,168 |
|---|---|---|---|---|
| 120,168 3,668 |
||||
| 123,836 | ||||
| - 28,883 5,726 3,634 1,951 |
||||
| 40,194 | ||||
| 164,030 |
The specific purposes for which the funds are to be applied are as follows:
Arts Council England: Provided Unrestricted Transition Funding from National Portfolio Programme towards core general costs between April and October 2023.
National Heritage Lottery Fund: Grant funding to create a new collection of Poetry of India and to undertake core, website and cataloguing development as part of development, and creation of Volunteer programme.
Foyle: Grant to contribute to the core costs of creating a collection of British Sign Language Poetry, plus support from BSL translators and film-makers
Compass: A grant towards 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 programme with staff to deliver.
Poetry By Heart income from the royalties due from the dedicated anthology of poetry created for the Poetry by Heart National Recital Competition. Poetry Archive are a member of a consortia delivering this prestigious annual competition (funded by the Department for Education).
National Archives - Funding for the opening of the Aldeburgh Archive.
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Docusign Envelope ID: 67AB8045-15BE-4CF5-A624-E9E200FD3E55
The Poetry Archive
Notes to the Financial Statements for the Year Ended 31 March 2025
20 Analysis of net assets between funds
| 20 Analysis of net assets between funds | |||
|---|---|---|---|
| Current assets Current liabilities Total net assets Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 88,302 (8,046) 80,256 Unrestricted funds General £ Designated £ - 3,668 560 - 131,784 - (12,176) - 120,168 3,668 |
Restricted funds £ 38,300 - 38,300 Restricted funds £ - - 40,194 - 40,194 |
Total funds at 31 March 2025 £ 126,602 (8,046) |
| 118,556 | |||
| Total funds at 31 March 2024 £ 3,668 560 171,978 (12,176) |
|||
| 164,030 |
21 Related party transactions
There were no related party transactions in the year.
Page 23