REGISTERED COMPANY NUMBER: 04891164 (England and Wales)
REGISTERED CHARITY NUMBER: 1101304
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
FOR
STEPHEN SPENDER TRUST
(A COMPANY LIMITED BY GUARANTEE)
STEPHEN SPENDER TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
|
Page |
Report of the Trustees |
1 to 8 |
Independent Examiner's Report |
9 |
Statement of Financial Activities |
10 |
Balance Sheet |
11 to 12 |
Notes to the Financial Statements |
13 to 21 |
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
with the financialstatementsof the charityfor the period1 April 2022to 31 August 2023.The trusteeshave adopted
the provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
- Toadvancepubliceducationabout,andappreciationof,thearts,particularlyliterature,in andafterthe twentieth
century, with special but not exclusive reference to the life and works of Stephen Spender and his contemporaries;
- To promote, and assist in promoting, research into the arts;
- To promote such other charitable purposes as the trustees may decide.
InspiredbyStephenSpender'sliteraryinterestsandachievementsaspoet,critic,editor,translatorandchampion of
humanrights,theStephenSpenderTrustaimsoverthenextthreeyearstoconsolidateitspositionasa leading
advocate of literary translation, both educational and professional.
In settingand reviewingour objectivesand aims,and in planningand carryingout our activities,we havedue regard
to the public benefit guidance published by the Charity Commission. In particular, the Trust has:
- Increasedpublicappreciationof internationalliteratureand the art of literarytranslationby holdingand promoting
the Stephen Spender Prize.
-ReachedouttonewaudiencesforinternationalliteratureandliterarytranslationbypromotingthePrize through
the media and in schools across the UK.
-Providedsignificantopportunitiesforculturalparticipationamonggroupsofpeoplewhomightotherwise be
excluded, by running our education programmes.
-Encouragedhighstandardsofliterarytranslationbyraisingartisticskillsandnurturingandcelebrating talent
through the Prize and education programmes.
- Promoted intercultural understanding.
More details of all of our activities are provided over the following pages.
Page 1
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In 2022-23 the charity had two programmes, the Stephen Spender Prize and an education programme.
The Stephen Spender Prize
This FinancialYearwas 17 monthslong,due to a changein our YearEnd date.As a result,the yearcoversone whole
prize cycle (2022) and the majority of the 2023 cycle. Both prize years are reported on here.
Launchedin2004inassociationwiththeGuardian,andfundedin2022and2023bytheFoundationMichalski, the
RothschildFoundation,The Old Possum'sPracticalTrust, The John S Cohen Foundation,and The Björnsonand Prodan
Foundation,thisannualprizecelebratestheartofliterarytranslationandaimstoencourageanewgeneration of
literarytranslatorsandlanguage-learners.Entrantstranslateapoemfromanylanguage-ancientormodern- into
English,andsubmitboththeoriginalandtheirtranslationtogetherwithashortcommentary.Winnersreceive cash
prizesandpublicationinourbooklet,andthosewhoarehighlycommendedarepublishedonline.In2023 we
expandedthe commentarycategoryto includeotherformsof response:an audioor videoreading,an illustration, or
apieceofcreativewriting.Thiswasfollowingsuggestionsfromteachersastohowwemightmaketheprize more
accessible to a wider range of learners, and met with a very positive response.
Thisyearwemademajorchangestotheyouthcategoriesoftheprize,inordertoincreasethenumberof entrants
andwinnersfromawiderangeofbackgrounds,withverypositiveresults.OurnewSchoolsLaureatePrize enables
teachersto submitpupils' entries.This runs parallelto our individualyouthprize, set up as an 'apprenticeship'for the
adultprize,toseedalifelongengagementwithpoetryandtranslation.Stateschoolentriesaccountedforover 60%
of all youthentrants,winnersand commendees.Acrossall our youthcategorieswe received1,500entriesin over 70
languages.
Over700teachersarenowregisteredforourteacherscheme,setup in 2021,thevastmajorityfromstate schools.
We sendresourcesand ideasto teachersin regulare-newsletters,supportingthemto integrateinternational poetry
into their teaching.Teacherskeep us informedof these activities,and we knowthereforethat in teacher-ledand SST
Associate-ledworkshopsacrosstheUK,wellover10,000youngpeopletranslatedpoetryintheirclassrooms this
year.It is importanttous thatthisactivityis developedholistically,throughtheteachers'ownpracticeand interest.
Forthisreason,weaddedaTeacherLaureatePrizein2023,withfreeentry,toencourageteachersto participate
actively in poetry translation.
We awardedteachersat threestateschoolswithour'outstandingteacher'label,rewardingthosewhohad engaged
large numbers of pupils in poetry translation through the prize.
The2022and2023prizessawthereturnofthe'Spotlight'strand,arotatingfocusonacommunitylanguage which
waslaunchedin 2018.Romanianwasthefocusin 2022and Ukrainianin 2023,withcashprizesand commendations
in three youthcategories:18-and-under,14-and-underand 10-and-under.In recentyearswe have been developing a
bank of virtualresourcesto encouragepeople of all ages to engage in poetrytranslation,and this becamea particular
focusduringthepandemic.TheSpotlightsenabledustoaddtothesegrowingresourceswithnewe-booklets of
RomanianandUkrainianpoems,curatedbytranslatorsGabiReigh,HannaLelivandKaterynaMikhalitsyna. These
uniquecollectionscontainsmanyuntranslatedpoems,whichwererenderedinEnglishforthefirsttimeby young
Romanian and Ukrainian speakers and their peers across the UK, as well as many poems by female poets.
Page 2
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
"[T]hepoetrybooksarrivedyesterday-theylookfabulous.WearegoingtopresentthemtoSamandZofia in
Assemblytomorrow- how amazingfor them to see their namesin print. I think the whole experiencehas given them
a lotof confidence- in theirwritingand beyond.Feelproudof mymentiontoo- thankyouso much!"- Outstanding
Teacher Commendee 2022 and teacher of two 10-and-under entrants Highly Commended in the Romanian Spotlight)
"OneofmystudentswasCommendedintheSSPrize.She'soverjoyed,we'regivingthecertificatetohersoon and
putting her translation up on the wall - teacher at a state school in Greater Manchester.
In2023weopenedtheadultprizetoadultsfromacrosstheworldforthefirsttime.Theresponsetothis pilot
schemewas very promising:we receivedpoetrytranslationsfrom 104 languages,more than double that of five years
ago.Almostthreequartersof the entrantswereengagingforthe firsttime,and camefromfivecontinents. Winners
and commendeescoveredthose five continentsand over 50 languages.In the next three yearswe aim to expand the
prizefurther,doublingthenumberofentrantsthroughpartnershipswithuniversitiesandwriting organisations
across the world.
Weheldalive-streamedawardseventforthesecondyearrunning,withreadingsandinterviewswithjudges and
winners.
Education Programmes
2022-23hasbeena timeofgreatchangeandprogressforSST'seducationwork.Withthesupportofthe Rothschild
Foundation,JohnSCohenFoundation,DerekHillFoundation,othertrustsandfoundationsandtheBritish Council,
wehavebeenabletoincreaseourreach,developnewprogrammes,andexpandtheteamthatdeliversallof our
work.
Ourachievementsinthisareawererecognisedwithtwoawards:theThrelfordCupforinspiringthelearning of
languages(awardedbytheCharteredInstituteofLinguists,2023)andtheOutreachChampionawardfrom the
Institute of Translation and Interpreting.
Afterthenecessaryvirtualactivityofrecentyears,wehavesuccessfullyre-orientedourworktowards in-person
engagementwhile retainingthe flexibilityand wider reach that we developedin our work online.In summer2022 we
launchedaprogrammeofStephenSpenderPrizeworkshopsinstateschools,runbytranslatorsandwriters across
theUKwhohavebeentrainedbySSTincreativemultilingualpractice.In2023thesewereco-fundedby local
authoritiesfor the first time. Our outreachwork was awardedthe prestigiousThrelfordCup in 2023,in recognition of
the contribution Stephen Spender Trust makes to creativity in language teaching.
(a) Creative Translation in the Classroom
In2022wecompletedthefirstiterationofourCreativeTranslationintheClassroomproject,whichran across
BuckinghamshireandOxfordshirefrom2019to2022.Theprogrammeconcludedwithanin-persongathering for
participating teachers, hosted by the Discover Bucks museum in Aylesbury.
Participatingteachersandyoungpeoplerespondedverypositivelytotheprogramme,highlightingtheinclusive and
motivational impact of creative translation, as well as its support of reading and writing skills:
"Throughthis projectI've been able to empowerEAL [Englishas an AdditionalLanguage]studentswho are otherwise
ignored at school. They've been able to acknowledge that having another language is a power for them."
Page 3
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
"ThispartnershipwithSST gaveme accessto excellentresourcesthatuse authentictexts.As a full-timeteacher,it is
difficult to find the time to source this material."
"PartneringwithSSTenabledmetothinkoutsidetheboxandtogooutsideoftheusualspecifications,which was
very liberating."
"SSTworkshopsandresourcesemphasisetheimportantofcreativityandfreedomwithinlanguageteaching.In the
existing curriculum things are always right or wrong."
"Studentswhogenerallydo lesswellat MFLhavea realfeelingof accomplishmentfromcreativetranslation.It's not
just about learning words, and motivates them much more effectively."
(b) Virtual Creative Translation
Wecompletedourprojectofmovingallofourvirtualresourcesontoournewwebsiteandmakingthem fully
accessibleand searchableboth for teachersand youngpeople.Theseincludeour innovativeaudio-visualprojects for
youngpeople:'PicturingPoetry','PoemsfromHome'and 'ListentotheMusic',and ourdatabaseof children's books
andgraphicnovels,publishedtogetherwithclassroomresources.Ourvirtualpoetrybookletsandresources enable
multilingualchildrentoengagecreativelywiththeirlanguagesandtosharethemwithfriendsandfamily. These
resourcesenhancedouryoungparticipants'culturalcapital,regardlessofsocio-economiccontextor geographical
location.
(c) Multilingual Festival/ Festival of World Literature
In2022wewereabletodeliverthisexcitingnewproject,whichhadbeendelayedbythepandemic.Ateamof SST
Associatesworkedtogethertodesignanddeliverworkshopsto738pupilsinschoolsacrossLondon,with funding
from John Lyon's Charity.
"The creativetranslationday was a huge successwith our Year 8 French students.They loved getting to grips with the
processof writinga word-for-wordtranslationand thenturningthisversionintoa morecreativeand idiomatic text.
Studentsthen went on to createtheirown textsin any language,with one groupwritinga trilingualcomicin English,
FrenchandPolish.Overall,itwasabrilliantopportunityforstudentstoexplorelanguagesandtranslationand they
really enjoyed the experience."
- Teacher at Ada Lovelace School, Ealing
(d) Multilingual Creators
In 2022we completedthe firstiterationof our new programmeMultilingualCreators,developedin partnership with
NationalCentreforWriting,NewWritingNorthandCommaPress.Thiscreativelearningprogramme brought
together225youngpeopleinNewcastle,NorfolkandGreaterManchesterwithprofessionaltranslatorsand writers
for creative multilingual workshops.
Theworkshopssignificantlyincreasedparticipant'saccesstohigh-quality,diverseandunder-representedculture in
multiplelanguages,with a majorityof participantsreportingthat they engagedwith poetryin a non-English language
for the first time. The programme also increased the young people's creative aspiration, artistic skills and wellbeing.
(e) Celebrating Ukrainian Culture
Page 4
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
AlongsidetheStephenSpenderPrize,ourmostsignificantprojectin2022-23wasCelebratingUkrainianCulture, a
seriesofin-personworkshopsforyoungpeoplethatculminatedintheawardoftheUkrainianSpotlight Prize,
detailedabove.WithsupportfromtheBritishCouncil,UniversityofChichester,Rathbone'sFolioPrize and
BuckinghamshireCouncil,webroughtUkrainiancreativetranslationworkshopsandactivitiestoschools and
community groups across the UK.
"ThankyouverymuchforthewonderfulUkrainianCultureDay.Itwasextremelywellreceivedbythechildren and
staffandmuchwaslearntItwassoenlighteningandworthwhileforall."- MarieTalbot,ChartridgePrimary School,
Bucks
"It was accessible to them all... They all left knowing they'd played their part." - Year 6 teacher
"Theworkshopswerereallyempoweringforthe pupils- the kidswereintimidatedat first,but thentheir confidence
really grew." - Sixth-Form helper
(f) Creative Translation in Schools
Shortlybeforethe year ended, we began a projectwith scholarsat the Universityof Birmingham,funded by an AHRC
ImpactAccelerationgrant.ThisprojectaimstoputintopracticeresearchintoFrenchpoetryand translation
conducted at the university, through a partnership with the University of Birmingham School - a large state school.
FINANCIAL REVIEW
Principal funding sources
Thecharityhasreceiveddonationsandgrantsamountingto£129,186duringtheyear,including£29,000from the
RothschildFoundation,£27,446fromtheUniversityofChichester,£20,000fromtheMichalskiFoundation, £17,000
fromtheBjörnsonandProdanFoundation,£10,000fromOldPossum'sPracticalTrust,£10,000fromtheJohn S.
CohenFoundation,£4,000fromtheHelenRollCharity,£3,300fromBuckinghamshireCountyCouncil,£2,000 from
theSacklerTrust,£2,000fromtheDerekHillFoundation,£1,940fromChrist'sHospitalSchool,£1,000from the
NationalCentreforWiting,£1,000fromtheBartlettTaylorCharitableTrustand£500fromtheRathbone's Folio
Prize. This is an increase in funding from the previous year, when donations and grants amounted to £99,605.
As at 31 August 2023 the charity had accumulated reserves of £52,685 of which £14,827 are unrestricted.
Reserves policy
Itisthepolicyofthecharitytoholdsuchfundsasnecessarytoprotectthefutureoperationsofthecharity, the
minimum permissible level of unrestricted reserves being £15,000, to
-
Cover a period of low income while remedial action is taken
-
Cover an unexpected loss on a project
-
Cover unforeseen expenditure items
-
Cover any related costs should the trustees ever seek to merge or wind up the charity
The trustees are satisfied that the charity's assets are adequate to fulfil its obligations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
Page 5
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The trusteesservea fixedtermof threeyears,withthe optionof renewingfora secondtermif the trusteeis willing
and fellow trustees are in favour.
Organisational structure
Theday-to-dayadministrationwasundertakenbyCharlotteRylandinconsultationwiththechairof trustees,
JonathanHeawood.Thetrusteesmeetfivetimesin thecourseof theyear,and otherwisefulfiltheirfiduciary duties
byemailortelephone.Theyreceiveregularmanagementaccountstoallowthemtomonitorclosely the
managementoftheTrust'scashresources,andtheyapprovethenextyear'sbudgetseveralmonthsbefore the
beginningofthenewfinancialyear.TheDirectormeetsthechairofthetrusteesonceayearforanappraisal and
professional development review.
Induction and training of new trustees
WhennewtrusteesareappointedtheyareprovidedwithabriefhistoryoftheTrust,itsaimsforthefuture, the
latestannualaccountsandtrustees'report,andotherinformationappropriatetotheirinduction,suchas Charity
Commission guidance.
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Reviewingannuallytheschedule of
risks and the procedures in place to mitigate these risks, the trustees have identified the following risks:
- Financial and economic including a shortfall in expected fundraising
- Loss of the Trust's Director
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04891164 (England and Wales)
Registered Charity number
1101304
Registered office
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
Page 6
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
Trustees
J Heawood
B Bransfield
A Niven
I Lucena
E Attwood
S Simmons (appointed 20.9.22)
Company Secretary
C Ryland
Independent Examiner
LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
Solicitors
Eversheds LLP
Kett House
Station Road
Cambridge
CB1 2JY
Bankers
Santander UK plc
301 St Vincent Street
Glasgow
G2 5NT
Barclays Bank UK PLC
Oxford City Branch
54 Cornmarket Street
OX1 3HB
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page 7
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
REPORT OF THE TRUSTEES
FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct 2006
relating to small companies.
Approved by order of the board of trustees on 6 March 2024 and signed on its behalf by:
J Heawood - Trustee
Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
STEPHEN SPENDER TRUST
Independent examiner's report to the trustees of Stephen Spender Trust ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheperiod1April2022 to
31 August 2023.
Responsibilities and basis of report
As the charity'strusteesof the Company(and also its directorsfor the purposesof companylaw) you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe 2006
Act and are eligibleforindependentexamination,I reportin respectof my examinationof yourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S A Murray FCCA
LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
12 April 2024
Page 9
STEPHEN SPENDER TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,256
Charitable activities
The Stephen Spender prize
-
Translators in Schools
10,725
Investment income
3
174
Total
13,155
EXPENDITURE ON
Charitable activities
The Stephen Spender prize
-
Administration and website costs
5,270
Translators in Schools
8,341
CTiC
357
Virtual Creative Translation
-
Multilingual Festival
106
Multilingual Creators
-
SSP Workshops
283
Ukraine British Council
-
Ukraine Rothschild
-
Total
14,357
NET INCOME/(EXPENDITURE)
(1,202)
RECONCILIATION OF FUNDS
Total funds brought forward
16,029
TOTAL FUNDS CARRIED FORWARD
14,827 |
Restricted
funds
£
132,839
4,448
9,150
-
146,437
45,482
1,578
-
15,842
1,648
25,887
3,144
4,966
32,696
27,885
159,128
(12,691)
50,549
37,858 |
Period
1.4.22
to
Year ended
31.8.23
31.3.22
Total
Total
funds
funds
£
£
135,095
84,000
4,448
1,523
19,875
20,037
174
8
159,592
105,568
45,482
14,821
6,848
4,530
8,341
15,104
16,199
69,667
1,648
11,832
25,993
4,045
3,144
25,436
5,249
-
32,696
-
27,885
-
173,485
145,435
(13,893)
(39,867)
66,578
106,445
52,685
66,578 |
|
|
|
The notes form part of these financial statements
Page 10
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
BALANCE SHEET 31 AUGUST 2023
Unrestricted
Restricted
fund
funds
Notes
£
£
CURRENT ASSETS
Debtors
8
9,340
-
Cash at bank
15,338
37,858
24,678
37,858
CREDITORS
Amounts falling due within one year
9
(9,851)
-
NET CURRENT ASSETS
14,827
37,858
TOTAL ASSETS LESS CURRENT LIABILITIES
14,827
37,858
NET ASSETS
14,827
37,858
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2023
Total
funds
£
9,340
53,196
62,536
(9,851)
52,685
52,685
52,685
14,827
37,858
52,685 |
2022
Total
funds
£
1,465
81,747
83,212
(16,634)
66,578
66,578
66,578
16,029
50,549
66,578 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the
period ended 31 August 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheperiod ended
31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 11
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164)
BALANCE SHEET - continued
31 AUGUST 2023
Thesefinancialstatementshave been preparedin accordancewith the provisionsapplicableto charitable companies
subject to the small companies regime.
The financialstatementswere approvedby the Board of Trusteesand authorisedfor issue on 6 March 2024 and were
signed on its behalf by:
J Heawood - Trustee
The notes form part of these financial statements
Page 12
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
1. GENERAL INFORMATION
StephenSpenderTrustisaprivatecompanylimitedbyguaranteeandregisteredinEnglandandWales. The
registered number and registered office address can be found on the report of the trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,which is a public benefitentityunder FRS 102,have been
preparedin accordancewiththeCharitiesSORP(FRS102)'Accountingand Reportingby Charities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention.
Income
Incomeconsistsofdonationsreceivedandgrantssecuredbythecharityduringtheyear.These financial
resourcesarerecognisedintheStatementofFinancialActivitiesatthedateinwhichthecharity becomes
entitled to receive the funds and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereis a legalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
and the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accruals basis
and has been classifiedunder headingsthat aggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesona basisconsistentwith the
use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Financial instruments
Financialassetsand financialliabilitiesarerecognisedin thebalancesheetwhenthecharitybecomesa party
to the contractual provisions of the instrument.
continued...
Page 13
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
2. ACCOUNTING POLICIES - continued
Financial instruments
Tradeandotherdebtorsandcreditorsareclassifiedasbasicfinancialinstrumentsandareinitially measured
at initialrecognitionat transactionprice.Debtorsand creditorsare subsequentlymeasuredat amortised cost
using the effectiveinterestratemethod.A provisionwill be establishedwhen thereis objectiveevidence that
thecharitywillnotbeabletocollectallamountsdue.Cashandcashequivalentsareclassifiedas basic
financialinstrumentsandcomprisecashatbankandshort-termbankdepositswithanoriginalmaturity of
three months or less which are an integral part of the charity's cash management.
Financialliabilitiesissuedbythecharityareclassifiedinaccordancewiththesubstanceofthe contractual
arrangements entered into and meet the definitions of a financial liability.
Financial assets are de-recognised when:
- the contractual right to the cash flows from the financial asset expire or are settled; or
- thecharitytransferstoanotherpartysubstantiallyall of therisksand rewardsof ownershipof the financial
asset; or
-thecharity,despitehavingretainedsomebutnotalloffsignificantrisksandrewardsofownership, has
transferred control of the asset to another party.
Financialliabilitiesarede-recognisedonlywhentheobligationspecifiedinthecontractis discharged,
cancelled or expires.
Employees
There were no employees in the current or preceeding year.
3. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
Period |
|
|
1.4.22 |
|
|
to |
Year ended |
|
31.8.23 |
31.3.22 |
|
£ |
£ |
Bank account interest |
174 |
8 |
continued...
Page 14
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor otherbenefitsfor the periodended 31 August 2023nor for the year
ended 31 March 2022.
Trustees' expenses
During the year and the comparative period no travel expenses were reimbursed to trustees.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
5,394
Charitable activities
The Stephen Spender prize
-
Translators in Schools
20,037
Investment income
8
Total
25,439
EXPENDITURE ON
Charitable activities
The Stephen Spender prize
-
Administration and website costs
4,530
Translators in Schools
15,104
CTiC
-
Virtual Creative Translation
-
Multilingual Festival
-
Multilingual Creators
-
Total
19,634
NET INCOME/(EXPENDITURE)
5,805
RECONCILIATION OF FUNDS
Total funds brought forward
10,224
TOTAL FUNDS CARRIED FORWARD
16,029 |
Restricted
funds
£
78,606
1,523
-
-
80,129
14,821
-
-
69,667
11,832
4,045
25,436
125,801
(45,672)
96,221
50,549 |
Total
funds
£
84,000
1,523
20,037
8
105,568
14,821
4,530
15,104
69,667
11,832
4,045
25,436
145,435
(39,867)
106,445
66,578 |
|
|
|
continued...
Page 15
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
6. INDEPENDENT EXAMINER'S REMUNERATION
Theindependentexaminer'sremunerationamountstoanindependentexaminerfeeof£830forthe year
(2022: £738).
7. EMPLOYEE BENEFITS
There were 0 employees (2022: 0 employees) who received employee benefits of more than £60,000.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
Trade debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income |
|
2023
£
9,340
2023
£
8,266
1,585
9,851 |
2022
£
1,465
2022
£
15,164
1,470 |
2022
£
1,465 |
|
|
|
16,634 |
|
continued...
Page 16
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
10. MOVEMENT IN FUNDS
MOVEMENT IN FUNDS |
|
|
|
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.22 |
in funds |
31.8.23 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
16,029 |
(1,202) |
14,827 |
Restricted funds |
|
|
|
The Stephen Spender prize |
3,727 |
21,376 |
25,103 |
The Joseph Brodsky/Stephen Spender |
|
|
|
prize |
4,988 |
(4,988) |
- |
CTiC |
11,842 |
(11,842) |
- |
Virtual Creative Translation |
1,648 |
(1,648) |
- |
Multilingual Festival |
22,700 |
(22,700) |
- |
Multilingual Creators |
3,144 |
(3,144) |
- |
SSP Workshops '22 |
2,500 |
(2,500) |
- |
Ukraine British Council |
- |
2,740 |
2,740 |
Ukraine Rothschild |
- |
865 |
865 |
University of Birmingham |
- |
9,150 |
9,150 |
|
50,549 |
(12,691) |
37,858 |
TOTAL FUNDS |
66,578 |
(13,893) |
52,685 |
continued...
Page 17
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
The Stephen Spender prize
The Joseph Brodsky/Stephen Spender
prize
CTiC
Virtual Creative Translation
Multilingual Festival
Multilingual Creators
SSP Workshops '22
Ukraine British Council
Ukraine Rothschild
University of Birmingham
TOTAL FUNDS |
Incoming
resources
£
13,155
63,448
-
4,000
-
3,187
-
2,466
35,436
28,750
9,150
146,437
159,592 |
Resources
Movement
expended
in funds
£
£
(14,357)
(1,202)
(42,072)
21,376
(4,988)
(4,988)
(15,842)
(11,842)
(1,648)
(1,648)
(25,887)
(22,700)
(3,144)
(3,144)
(4,966)
(2,500)
(32,696)
2,740
(27,885)
865
-
9,150
(159,128)
(12,691)
(173,485)
(13,893) |
|
|
|
continued...
Page 18
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
The Stephen Spender prize
The Joseph Brodsky/Stephen Spender
prize
CTiC
Virtual Creative Translation
Multilingual Festival
Multilingual Creators
SSP Workshops '22
TOTAL FUNDS |
At 1.4.21
£
10,224
2,000
4,988
59,008
3,480
26,745
-
-
96,221
106,445 |
Net
movement
in funds
£
5,805
1,727
-
(47,166)
(1,832)
(4,045)
3,144
2,500
(45,672)
(39,867) |
At
31.3.22
£
16,029
3,727
4,988
11,842
1,648
22,700
3,144
2,500 |
|
|
|
50,549 |
|
|
|
66,578 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
The Stephen Spender prize
CTiC
Virtual Creative Translation
Multilingual Festival
Multilingual Creators
SSP Workshops '22
TOTAL FUNDS |
Incoming
resources
£
25,439
16,548
22,501
10,000
-
28,580
2,500
80,129
105,568 |
Resources
Movement
expended
in funds
£
£
(19,634)
5,805
(14,821)
1,727
(69,667)
(47,166)
(11,832)
(1,832)
(4,045)
(4,045)
(25,436)
3,144
-
2,500
(125,801)
(45,672)
(145,435)
(39,867) |
|
|
|
continued...
Page 19
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
10. MOVEMENT IN FUNDS - continued
Restricted funds represent monies given to the charity for a particular activity as follows:
TheStephenSpenderPrize-annualcompetitionheldtocelebrateliterarytranslationandencourage future
literary translators.
PolishSpotlight-inNovember2017StephenSpenderTrustwasgrantedinvestmentfundingfrom the
RothschildFoundationtorunapilotforanewprogrammethatwouldintegratetheStephenSpender Prize
andtheTranslatorsinSchoolseducationprogrammes.Thisprojectcontinueswithfurtherfundingfrom the
British Council, the Polish Cultural Institute and the Rothschild Foundation.
CreativeTranslationintheClassroom-CTiCisaneducationprogrammethatembedstranslatorsin schools,
trainingthemtoco-developanddeliverworkshopsandprojectswithteachersinKeyStage2and 3
classroomsacrossBuckinghamshireandOxfordshire.Theprogrammeisprimarilyfundedbythe Rothschild
Foundation and the Polonsky Foundation.
VirtualCreativeTranslation-inMay2020StephenSpenderTrustwasgrantedfundingfromArts Council
Englandto developvirtualcreativetranslationactivitiesfor youngpeoplein the UK affectedby the pandemic.
The projectdevelopsvirtualteachingresourcesand virtualtrainingfor teachersand translators,and brings all
theseresourcesontoSST'snewwebsite,whichwaslaunchedinMay2021.Theprojectcontinues with
funding from the Rothschild Foundation and Foyle Foundation.
MultilingualFestival-aprojectthatbringscreativetranslationandinternationalliteratureinto secondary
schoolsacrossLondon,throughwebinarsforteachersandworkshopswithprofessionaltranslators, with
funding from John Lyon's Charity. The project was initially conceived in partnership with Pop Up Projects CIC.
11. RELATED PARTY DISCLOSURES
During the year the charityincurredchargesof £24,195(2021-£8,810)for servicesfromDr C Rylandwho was
the charity's company secretary during the year.
Balances existing with related parties at the beginning and end of the year were as follows:
|
31.03.22 |
01.04.21 |
|
|
£ |
£ |
|
Dr C Ryland |
£5,294 |
|
Nil |
continued...
Page 20
STEPHEN SPENDER TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2022 TO 31 AUGUST 2023
12. GUARANTEE
Intheeventofawindingup,themaximumamountguaranteedtobecontributedbyeachexisting member
and from each personwho was a memberwithin the preceding12 monthsis £1. At the date of this report the
number of such people is 6.
Page 21