```
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
```