REGISTERED COMPANY NUMBER: 04891164 (England and Wales) REGISTERED CHARITY NUMBER: 1101304 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR STEPHEN SPENDER TRUST (A COMPANY LIMITED BY GUARANTEE
STEPHEN SPENDER TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Page Report of the Trustees I to 11 Independent Examiner's Report 12 Statement of Flnanclal Activities 13 Balance Sheet 14 to 15 Notes to the Flnanclal Statements 16 to 22
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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 IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims To advance public education about, and appreciation of, the arts, particularly literature, in and after the 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. Inspired by Stephen Spender's literary interests and achievements as poet, critic, editor, translator and champion of human rights, the Stephen Spender Trust aims over the next three years to consolidate its position as a leading advocate of literary translation, both ed ucationa l and professional. In setting and reviewing our objectives and aims, and in planning and carrying out our activities, we have due regard to the public benefit guidance published by the Charity Commission. In particular, the Trust has.. Increased public appreciation of international literature and the art of literary translation by holding and promoting the Stephen Spender Prize. Reached out to new audiences for international literature and literary translation by promoting the Prize through the media and in schools across the UK. Provided significant opportunities for cultural participation among groups of people who might otherwise be excluded, by running our education programmes. Encouraged high standards of literary translation by raising artistic skills and nurturing and celebrating talent through the Prize and education programmes. Promoted intercultural understanding. More deta ils of all of our activities are provided over the following pages. Page I
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities In 2023-24 the charity had two programmes, the Stephen Spender Prize and an education programme. The Stephen Spender Prlze Following the change in our Year End date last year, the 2023-24 Financial Year returned to the normal duration of 12 months, running from August 2023 to August 2024. As a result, the year covered the final stages of the 2023 prize cycle lending in November 20231 and the majority of the 2024 cycle, which officially cu Iminated with a livestreamed Celebration Event in November 2024. Both of the relevant periods are reported on here. Launched in 2004 in association with the Guardian, and funded in 2023 and 2024 by the Jan Michalski Foundation, the John S Cohen Foundation, Old Possum's Practical Trust and the Golsoncott Foundation, this annual prize celebrates the art of literary translation and aims to encourage a new generation of literary translators and language-learners. Entrants translate a poem from any language ancient or modern into English, and submit the original version and their translation together with a short commentary. 2023 prlze cycle (August to November 2023) In 2023, to make the prize as inclusive as possible to entrants of all ages and backgrounds, we made major changes to both the youth a nd adult categories. I n the youth categories, followi ng extensive consultation with teachers, a key development was introducing a dedicated 'Schools Laureate Prize, for teachers to submit thei r pupils, entries. This features age categories from KSI through to KS5,' new alternatives to the written commentary tailored to Students of all learning styles; and a ba nk of supporting resources including a database of suggested poems in over 50 languages. Alongside this, we created a devoted 'lndividual Youth Entry, category as an 'apprenticeship' for the adult prize, to seed a lifelong engagement with poetry and translation for young people taking part independently. Meanwhile, the'open, category, previously for adults in the UK and Ireland, was extended to entrants aged 19+ from all over the world, whilst a new, free version of the Open category, the 'Teacher Laureate Prize,, was launched for all teachers at schools that participate in the Schools Laureate Prize, thereby giving teachers the chance to engage creatively with translation themselves whilst fostering new opportunities for exchange and discussion with their students. Reflecting this dual vocation, the prize for the winning teacher is a personal subscription to Modern Poetry in Translation magazine, plus a poetry translation workshop for their school. Finally, in 2023 these four multilingual strands were joined by a'ukrainian Spotlight,, celebrating work by a range of contemporary Ukrainian poets. Like its forerunners the Polish Spotlight, Urdu Spotlight and Romanian Spotlight, the prize welcomed entries from all young people aged 18 and under and was accompanied by a specially curated booklet of poems, compiled by Hanna Leliv and Kateryna Mikhalitsyna, as well as a collection of teaching resources based on the featured poems. In November 2023, the winners and commendees of all five categories were announced at a virtual Celebration Event, which also saw the presentation of 'Outstanding Teacher Commendations, to teachers from three state primary and secondary schools who had made exceptional efforts to engage their pupils in poetry translation through the prize. Page 2
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The event was attended by entrants, poets, translators, teachers and poetry supporters from all over the world, with the wealth of poems and languages showcased by the winners and commendees, leading Stephen Spender Trust Trustee Ben Bransfield to describe it as 'an inspiring celebration of language [...] a wonderful festival of everywhere,. His words were reiterated by judge Samantha Schnee, who paid tribute to how the prize and internationally accessible awards event 'really createldl a sense of community,. Many other participants echoed these sentiments: so moving and humbling. I'm almost crying. So grateful and happy to have been part of Ukrainian Spotlight project. Hanna Leliv (Ukrainel, translator and Ukrainian Spotlight booklet co-curator The virtual awards were a beautiful and touching experience. Thank you for being inclusive. [...] What a soothing balm to the atrocities happen ing in the world. Miriam Calleja (United States), Highly Commended, Open Category 'Everything was great and I was honoured and thankful to be part of it [...] a truly international, edifying event. Wael Almahdi (Bahrainl, Highly Commended, Open Category '1 really enjoyed the opportunity to share my mother tongue with the world, and let it be known in a more mainstream language. Likewise, l enjoyed hearing others, poems because I was able to discover so manv more languages and countries, and it highlighted that poetry is a global art, not confined to a particular language or country," Cristyn Rhydderch-Davies Iwalesl, Schools Laureate Prize Commendee The overwhelmingly positive feedback on the Celebration Event was echoed in the reflections from entrants on their wider experience of taking part in the Prize, as captured by testimonials from adults, voung people and teachers alike.. 'My students and I loved the whole experience. Poetry so rarely gets a look-in compared to other forms of literature and I love that the prize encourages children and adults alike to engage with translation and poetry in the classroom and life. Alison Entrekin, joint wi nner of Th ird Prize in the Open Category, as part of a group of 27 international co-tra nslators. 'Thank you for organising this,, such a creative, and inspirational opportu nity for all involved. l a m so happy we took part. Henrietta Preston, secondary Modern Foreign Languages teacher and teacher of winning Schools Laureate Prize entra nt. '1 am incredibly happy that I got the opportunity to participate in the competition. It was a very special event in my life that opened up a new area of interest for me the translation of texts that have an influence on our world. [...] Thank you again. I will never forget how important this competition was for me. Page 3
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Mariya Chechel, Ukrainian Spotlight Commendee IKS51 Following the Celebration Event, the winning poems from each category were compiled alongside comments from the judges in an extended print booklet, whilst the full collection of winning and commended poems were published in a special set of '2023 Prizewinners, webpages and shared in a dedicated video playlist, which are available open-access on the Stephen Spender Trust website and YouTube channel. 2024 prize cycle (January to August 2024) In 2024, we built on the momentum of the 2023 Prize with the second edition of the Schools Laureate Prize, Individua l Youth Entry strand, Teacher Laureate Prize and internationa l Open category, together with new 'Portuguese Spotlight, celebrating poetry from across the Lusophone world. Following the surge in the numbers of teachers engaging with their prize in recent years - which has seen the number of participating schools {overwhelmingly state schools) more than double since 2021, and the number of teachers registered for our teacher mailings climb to over a thousand during the same period in 2024 we ensured that the prize can keep reaching as many new schools as possible by introducing a limit of five entries per Key Stage per school for the Schools Laureate Prize and Spotlight strand. In tandem, we created a new set of resources to inspire schools to run poetry translation activities and internal competitions to choose their final entries per Key Stage, under the banner 'Build Your Own Creative Translation Project,, The continued expansion of our resource bank was greeted with enthusiasm by teachers, both supporting ongoing engagement with the prize among previous participants and spurring new schools to get involved. The students have absolutely loved the competition and the work we did with your resources before they got stuck into their translations. It's the first year that my school have done it, and it has been such a positive experience - thank you I MFL teacher at a state secondary school 'Thank you for everything you do to run the competition. It's brilliant that it continues to happen and it has inspired us to set up our own internal poetry translation prize.. We had over 50 entries from languages as diverse as Persian and Slovak (all volunteer entries). Secondary Deputy Head of Languages This potential of the prize to act as a catalyst for wider engagement with Creative Translation was borne out in feedback from teachers at every Key Stage, who reported more than 2,500 pupils engaging in Prize-related activities in their schools in add ition to the IOOO+ entries received across all categories. This scope was exemplified by students and teachers at the University of Birmingham School, where more than 450 students in Key Stages 3, 4 and 5 took part in poetry translation workshops during their language lessons, resulting in an Outstanding Teacher Commendation for the school's MFL team and the selection of two of their students amongst the Schools Laureate Prize winners and commendees. Page 4
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 At the same time, the expanded range of commentary options offered by the Schools Laureate Prize including the possibility to submit an audio or video performance of one's translation, an original artwork, or a piece of creative writing inspired by the poem once again saw an enthusiastic take-up, highlighting the rich potential for cross-cu rricu la r links that Creative Translation holds. In 2024, this wea Ith of creative responses included the Prize's first sung and instrumental translations, as well as dozens of drawings, painti ngs and original pieces of English-language poetry and prose. Such creativity was similarly apparent in submissions to the Teacher Laureate Prize, which included a Snapchat-style translation of Beowulf from one of the commended teachers, inspired by her pupils at a London comprehensive, as well as original renditions of classic and contemporary poems in a dozen languages from the other winners and commendees - many of whom were translating poetry for the first time. 'Poetry is not a genre of literature l am particularly interested in but I may revise my position after doing this competition! I had to read a large number of poems before selecting the final one, and I thoroughly enjoyed the search! Teacher of French and German at a state secondary school, on winning the Teacher Laureate Prize ' Recordi ng the translation was sl ightly pa inf u I it's quite obvious it's not my standard vocabularyl However, it has been of great interest to my students and has opened up some brilliant discussions about language and poetry, so thank you to the Prize organisers for giving students that opportunity. It was a joy to see them inspired by something outside of the curriculum but still challenging and academic. Teacher Laureate Prize entrant at a state secondary school, on being awarded a Special Commendation for her Snapchat-style translation of Beowulf Meanwhile, the international Open category continued to expand its reach with winners, Highly Commended and First-Time Entrant Commendees from 3 continents and 6 countries, plus additional commendees from many more. Overall, the entries spanned 6 continents, 38 countries and 54 languages, including the competition's first-ever commended translation from BSL. Th is flourishing of languages was mirrored across the youth categories, with translations f rom a record 75 languages submitted to the Individual Youth Entry strand and Schools Laureate Prize, many of them from Home, Heritage and Community languages that are seldom given a platform in the traditional curriculum. The confidence-raising impact for pupils who speak these languages was reflected in feedback from many teachers, and was seen just as powerfully among entrants to the Portuguese Spotlight as they shone a light on poems from around the Portuguese-speaking world: '1 can't tell you how happy l am for herl She was thrilled and we couldn't stop giggling and'quietly, jumping with joy. This is going to be well celebrated in our school. Thank you so much again. EAL teacher at a state primary school, whose KSI-2 pupil was chosen as a winner in the Schools Laureate Prize '1 am very proud of the work both girls have done, and very grateful for the opportunity given by the Stephen Spender Trust. I think the work of the staff working for the Trust is outstanding. Teacher of Portuguese Spotlight winners at a state primary school Page 5
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Education Programmes (a) Celebrating Ukrainian Culture In 2023 and 2024, we continued our Celebrating Ukrainian Culture project with additional funding from Buckinghamshire Council. These workshops reached over 2,600 pupils from the ages of 7 to 18 in 50+ schools across England, from Norwich to Newcastle, West Sussex to the Wirral. 'It was accessible to them all.. They all left knowing they'd played their part. Year 6 teacher ' It was especially good to see pupils talking a bout emotions they wouldn't normally talk about. Translating the Ukrainian poems and picture book made that possible. Primary school teacher (b) MLC Young Translators With funding from the John Lyon's Charity, we piloted a new five-part Creative Translation programme in two schools in West London, with the intention of rolling it out to more schools in subsequent years. Two translators each designed a course based on translating two thematically linked poems lone in French and another in Portuguese), which they delivered to groups over the course of five weeks. The structure of the programme allowed pupils to build confidence across the sessions, further develop their intercultural awareness, and express themselves creatively in different languages. Following the completion of the sessions, the translators curated a zine featuring writings by the pupils at the two schools. [What do you think the students got out of the programmel 'Realising they could do things they didn't think they could, realising that they can translate, that they can be better than a machine translator... rea lising the creative decisions that go into tra nslation, rea lising what they can do with their languages as well Participating translator Page 6
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 (c) University of Birmingham During the 2023-24 school year, we worked with Dr Emma Wagstaff, Associate Professor of French at the University of Birmingham, on a Creative Translation project funded by the Arts and Humanities Research Council. Dr Wagstaff was keen to promote the study of French literature and the visual arts, and the interactions between them. Together, we organised a series of workshops at the University of Birmingham [UoBI School and developed resources on translating poetry and visual culture. Both the workshops and the resources drew on a selection of poems from across the Francophone world specially curated by Dr Wagstaff for this project. The workshops reached 120 pupils in Year 10 and eight sixth formers. This project has had a measurable impact both on UOB School, where workshops were held, and other schools across the UK by facilitating their engagement with the Stephen Spender Prize. After observing the workshops at UOB School, the lead teacher developed a poetry translation initiative that saw the MFL team create and share lesson plans. These lessons engaged 450 pupils across three different year groups. As part of the project, we produced a poetry booklet and an accompanying series of open-access translation activity resources, which are available on our website. These materials inspired 17 entries to the Stephen Spender Prize, all based on poems from the booklet. (d) Stephen Spender Prlze workshops Interest for our Stephen Spender Prize workshops from schools across the UK has grown steadily since launching in 2022, We offertwo models: one Creative Translation workshop11 hour 30 minutes to 2 hours) or a Creative Translation day 12 workshops plus an assembly or talk on the Stephen Spender Prize or creative careers with languagel. During the reporting period, we ran 16 workshops or days in 14 schools across England, with the whole-day model proving to be especially popular. A number of schools requested these workshops as part of key events in the school calendar, such as enrichment weeks or careers days. (e) Translators In Schools We offered Translators in Schools ITISI support to a number of arts and educational organisations, enabling them to develop their Creative Translation practice for projects with young people. The most prominent of these was a project with National Centre for Writing, 'Young Creative Translators,. We designed a 6-session Creative Translation course for Key Stage 2 pupils in West Norfolk primary schools, as well as a training programme to support teachers to deliver the course. The programme delivery was managed by NCW, and delivered to one teacher. Although the participant number was lower than anticipated, the feedback from this teacher was extremely positive, clearly documenting the positive impact on all of his pupils, in particular those with English as an Additional Language and those with Special Educational Needs and Disabilities ISENDI. 'My pupils have really enjoyed it - especially SEND kids. It's created a level playing field for them {Mike Bidder, participati ng teacher) Page 7
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Tis work also included a project for Leeds Language Week as part of the the 'year of culture, leeds 2023. Alongside organisations such as the British Council and the University of Leeds, we contributed to the programming by developing open-access Creative Translation resources and running in-school workshops, both based on the theme of celebrating the culture of a city. We ran Creative Translation days at primarv and secondary schools across Leeds, reaching over 850 pupils who participated in workshops and/or attended careers in languages talks. To deliver these workshops, we trained new facilitators, which allowed us to expand our organisational capacity in Yorkshire and opens up the possibilities to deliver future languages-related interventions in the Leeds area. In addition, drawing on our wider network of language professionals, we developed three Creative Translation resources for teachers in languages widely spoken within communities in Leeds.. Polish, Punjabi, and Urdu. We were thrilled with how well our students engaged with the sessions, which was due to the facilitator's skilful delivery and warm, encouraging approach. The material, explanations and level of questioning were all perfectly pitched, despite one session being aimed at GCSE German students and the other one A Level Spanish (quite a challenge to get both spot on11. The informal feedback from students since the sessions has been extremely positive., (participating teacherl We also supported the Goethe-lnstitut London with their GIMAGINE project: a brand new digital self-study platform to encourage more young people to learn German. We designed three modules for this platform, on poetry, translation a nd Artif icia I Intelligence. Finally, we partnered with the Royal Court and University of Kent on a project to train theatre translators to design and deliver theatre translation workshops in schools. FINANCIAL REVIEW Princlpal fundlng sources The charity has received donations and grants amounting to £36,123 during the year, including £10,121 from the Buckinghamshire Council, £10,000 from the John Lyons Charity, £6,000 from the Old Possum's Practical Trust, £5,000 from the John S. Cohen Foundation, £2,500 from, the Rothschild Foundation, £1,230 from Coventry CC, £1,000 from the Golsoncott Foundation and £80 from the Reading University. This is a decrease in funding from the previous year, when donations and grants amounted to £135,095. Income f rom Charitable activities totalled £26,27712023 £24,323). As at 31 August 2024 the charity had accumulated reserves of £28,845 of which £16,977 are unrestricted. Reserves policy It is the policy of the charity to hold such f unds as necessary to protect the future operations of the charity, 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 cha rity's assets are adequate to f ulf il its obligations. Page 8
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recrultment and appolntment of new trustees The trustees serve a fixed term of three years, with the option of renewing for a second term if the trustee is willing and fellow trustees are in favour. Organisational structure The day-to-day administration was undertaken by Charlotte Ryland in consultation with the chair of trustees, Jonathan Heawood. The trustees meet five times in the course of the year, and otherwise fulfil their fiduciary duties by email or telephone. They receive regular management accounts to allow them to monitor closely the management of the Trust's cash resources, and they approve the next year's budget several months before the beginning of the new financial year. The Director meets the chair of the trustees once a year for an appraisal and professional development review. Inductlon and tralning of new trustees When new trustees are appointed they are provided with a brief history of the Trust, its aims for the future, the latest annual accounts and trustees, report, and other information appropriate to their induction, such as Charity Commission guidance. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Reviewing annually the schedule of risks and the procedures in place to mitigate these risks, the trustees have identified the fol lowi ng risks.. Financial and economic including a shortfall in expected fundraising Loss of the Trust's Director REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04891164 IEngland and Wales) Registered Charity number 1101304 Registered office Railview Lofts 19c Commercial Road Eastbourne East Sussex BN213XE Page 9
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Trustees J Heawood B Bransfield A Niven (deceased 26.3.251 l Lucena E Attwood S Simmons (resigned 3.10.241 R Hart (appointed 30.7.241 Company Secretary C Ryland Independent Examiner LMDB Accountants Chartered Certified Accountants Railview Lofts 19c Commercial Road Eastbourne East Sussex BN213XE Solicltors Eversheds LLP Kett House Station Road Cambridge CBI 2JY Bankers Santander UK plc 301 St Vincent Street Glasgow G2 5NT Barclays Bank UK PLC Oxford City Branch 54 Cornmarket Street OXI 3H8 CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 10
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 9th April 2025 and signed on its behalf by: J Heawood - Trustee Page 11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEPHEN SPENDER TRUST Independent examiner's report to the trustees of Stephen Spender Trust {'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company land 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 20061'the 2006 Act'l. 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 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examlner'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 Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records,. or 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 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. 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. S A Murray FCCA LMDB Accountants Chartered Certified Accountants Railview Lofts 19c Commercial Road Eastbourne East Sussex BN213XE Date.. Page 12
STEPHEN SPENDER TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Period 1.4.22 to 31.8.23 Total funds Year ended 31.8.24 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 191 35,932 36,123 135,095 Charitable activities The Stephen Spender prize Translators in Schools SSP Workshops Creative Translation in Schools UOB 2,836 2,836 17,915 5,361 165 4,448 19,875 17,915 5,361 165 Investment income 371 371 174 Total 8,759 54,012 62,771 159,592 EXPENDITURE ON Charitable actlvlties The Stephen Spender prize Administration and website costs Translators in Schools CTIC Vi rtual Creative Tra nslation Multilingual Festival Multilingual Creators SSP Workshops Ukrai ne British Council Ukrai ne Rothschi Id JLC MLC Young Translators Creative Translation in Schools UOB 103 1,702 25,806 217 17,894 25,909 1,919 17,894 45,482 6,848 8,341 16,199 1,648 25,993 3,144 5,249 32,696 27,885 4,803 4,803 14,020 3,354 9,430 9,282 14,020 3,354 9,430 9,282 Total 6,608 80,003 86,611 173,485 NET INCOME/(EXPENDITURE) 2,151 125,991) 123,8401 113,8931 RECONCILIATION OF FUNDS Total funds brought forward 14,827 37,858 52,685 66,578 TOTAL FUNDS CARRIED FORWARD 16,978 11,867 28,845 52,685 The notes form part of these financial statements Page 13
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) BALANCE SHEET 31 AUGUST 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund funds Notes CURRENT ASSETS Debtors Cash at bank 4,331 15,690 4,331 27,558 9,340 53,196 11,868 20,021 11,868 31,889 62,536 CREDITORS Amounts falling due within one year {3,044) 13,0441 19,8511 NET CURRENT ASSETS 16,977 11,868 28,845 52,685 TOTAL ASSETS LESS CURRENT LIABILITIES 16,977 11,868 28,845 52,685 NET ASSETS 16,977 11,868 28,845 52,685 FUNDS Unrestricted f unds Restricted f unds 10 16,977 11,868 14,827 37,858 TOTAL FUNDS 28,845 52,685 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibi lities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing f inancial statements which give a true and fair view of the state of affairs of the cha ritable 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. Ibl The notes form part of these financial statements Page 14 continued...
STEPHEN SPENDER TRUST (REGISTERED NUMBER: 04891164) BALANCE SHEET- continued 31 AUGUST 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ..9th.ApriL.2£).25.............. and were signed on its behalf by.. J Heawood - Trustee The notes form part of these financial statements Page 15
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 GENERAL INFORMATION Stephen Spender Trust is a private company limited by guarantee and registered in England and Wales. The registered number and registered office address can be found on the report of the trustees. ACCOUNTING POLICIES Basls of preparlng the financlal statements The fi nancial statements of the charitable company, which is a public benef it entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities: Statement of Recommended Practice applica ble to charities preparing thei r accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income Income consists of donations received and grants secured by the charity during the year. These financial resources are recognised in the Statement of Financial Activities at the date in which the charity becomes entitled to receive the funds and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditu re, it is probable that a tra nsfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting U nrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Financial instruments Financial assets and financial liabilities are recognised in the balance sheet when the charity becomes a party to the contractual provisions of the instrument. Page 16 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES - continued Financial instruments Trade and other debtors and creditors are classified as basic financial instruments and are initially measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision will be established when there is objective evidence that the charity will not be able to collect all amounts due. Cash and cash equivalents are classified as basic financial instruments and comprise cash at bank and short-term bank deposits with an origina I maturity of three months or less wh ich a re an integral part of the charity's cash management. Financial liabilities issued by the charity are classified in accordance with the substance of the contractual arrangements entered into and meet the definitions of a financial liability. Financial assets are de-recognised when: the contractual right to the cash f lows from the fina ncial asset expire or a re settled; or the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset; or the charity, despite having retained some but not all off signif ica nt risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are de-recognised only when the obligation specified in the contract is discharged, cancelled or expires. Employees There were no employees in the current or preceeding year. INVESTMENT INCOME Period 1.4.22 to 31.8.23 Year ended 31.8.24 Bank account interest 371 174 Page 17 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the period ended 31 August 2023. Trustees, expenses During the year and the comparative period no travel expenses were reimbursed to trustees. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES U nrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,256 132,839 135,095 Charltable actlvltles The Stephen Spender prize Translators i n Schools 4,448 9,150 4,448 19,875 10,725 Investment income 174 174 Total 13,155 146,437 159,592 EXPENDITURE ON Charltable activltles The Stephen Spender prize Administration and webslte costs Translators in Schools CTIC Virtual Creative Tra nslation Mu Iti lingual Festival Mu Iti lingual Creators SSP Workshops Ukraine British Council Ukraine Rothschild 45,482 1,578 45,482 6,848 8,341 16,199 1,648 25,993 3,144 5,249 32,696 27,885 5,270 8,341 357 15,842 1,648 25,887 3,144 4,966 32,696 27,885 106 283 Total 14,357 159,128 173,485 NET INCOME/(EXPENDITURE) 11,202) {12,6911 113,8931 RECONCILIATION OF FUNDS Total funds brought forward 16,029 50,549 66.578 TOTAL FUNDS CARRIED FORWARD 14,827 37,858 52,685 Page 18 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 INDEPENDENT EXAMINER'S REMUNERATION The independent examiner's remuneration amounts to an independent examiner fee of £875 for the year12023: £830). EMPLOYEE BENEFITS There were O employees {2023: 0 employees) who received employee benefits of more than £60,000. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 4,331 9,340 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Accruals and deferred income 1,444 1,600 8,266 1,585 3,044 9,851 10. MOVEMENT IN FUNDS Net movement in funds At 31.8.24 At 1.9.23 Unrestricted funds General fund 14,827 2,150 16,977 Restricted funds The Stephen Spender prize Ukraine British Council Ukraine Rothschild University of Birmingham JLC MLC Young Translators 25,103 2,740 865 9,150 113,8051 12,7401 18651 19, 1501 570 11,298 570 37,858 (25,9901 11,868 TOTAL FUNDS 52,685 123.8401 28.845 Page 19 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 io. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 8,759 16,6091 2,150 Restricted funds The Stephen Spender prize Translators i n Schools Ukraine British Council Ukraine Rothschild University of Birmingham JLC MLC Young Translators 12,001 17,995 11,351 2,500 165 10,000 125,8061 117,9951 114,0911 13,3651 19,3151 19,4301 113,8051 12,7401 {8651 19, 1501 570 54,012 180,0021 125,9901 TOTAL FUNDS 62,771 186,6111 123,8401 Comparatlves for movement In funds Net movement in funds At 31.8.23 At 1.4.22 Unrestricted funds General fund 16,029 11,2021 14,827 Restricted funds The Stephen Spender prize The Joseph Brodsky/Stephen Spender prize CTIC Virtual Creative Tra nslation Mu Iti lingual Festival Mu Iti lingual Creators SSP Workshops '22 Ukraine British Council Ukraine Rothschild University of Birmingham 3,727 21,376 25,103 4,988 11,842 1,648 22,700 3,144 2,500 14,9881 111,8421 11,6481 (22,7001 13,1441 12,5001 2,740 865 9,150 2,740 865 9,150 50,549 {12,6911 37,858 TOTAL FUNDS 66,578 113,8931 52,685 Page 20 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 io. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 13,155 (14,3571 11,2021 Restricted funds The Stephen Spender prize The Joseph Brodsky/Stephen Spender prize CTIC Virtual Creative Tra nslation Mu Iti lingual Festival Mu Iti lingual Creators SSP Workshops '22 Ukraine British Council Ukraine Rothschild University of Birmingham 63,448 142,0721 21,376 14,9881 115,8421 11,6481 125,8871 13,1441 14,9661 132,6961 127,8851 14,9881 111,8421 11,6481 122,7001 13,1441 12,5001 2,740 865 9,150 4,000 3,187 2,466 35,436 28,750 9,150 146,437 1159,1281 112,6911 TOTAL FUNDS 159,592 {173,4851 113,8931 Restricted funds represent monies given to the cha rity for a particular activity as follows.. The Stephen Spender Prize - annual competition held to celebrate literary translation and encourage future l iterary translators. Polish Spotlight - in November 2017 Stephen Spender Trust was granted investment funding from the Rothschild Foundation to run a pilot for a new programme that would integrate the Stephen Spender Prize and the Translators in Schools education programmes. This project continues with further funding f rom the British Council, the Polish Cultu ra I I nstitute and the Rothschild Foundation. Creative Translation in the Classroom CTIC is an education programme that embeds translators in schools, training them to co-develop and deliver workshops and projects with teachers in Key Stage 2 and 3 classrooms across Buckinghamshire and Oxfordshire. The programme is primarily funded by the Rothschild Foundation and the Polonsky Foundation. Virtual Creative Translation - in May 2020 Stephen Spender Trust was granted funding from Arts Council England to develop virtual creative translation activities for young people in the UK affected by the pandemic. The project develops virtual teaching resources and virtual training for teachers and translators, and brings all these resources on to SST'S new website, which was launched in May 2021. The project continues Wlth funding from the Rothschild Foundation and Foyle Foundation. Page 21 continued...
STEPHEN SPENDER TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 io. MOVEMENT IN FUNDS- continued Mu Iti lingual Festival a project that brings creative translation and international literature into secondary schools across London, through webinars for teachers and workshops with professional translators, with f u nding from John Lyon's Charity. The project was initia Ily conceived in partnership with Pop Up Projects CIC. ii. RELATED PARTY DISCLOSURES During the year the charity incurred charges of £12,875 for services from Dr C Ryland who was the charity's company secretary during the year. Ba lances existing with related parties at the begi nn ing and end of the year were as fol lows: 31.08.24 31.08.23 Dr C Ryland £750 370 12. GUARANTEE In the event of a winding up, the maximum amount guaranteed to be contributed by each existing member and from each person who was a member within the preceding 12 months is £1. At the date of this report the number of such people is 6. Page 22