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Registered in England
Charity No. 1110725
Company No. 05242876
NATIONAL CENTRE FOR WRITING
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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NATIONAL CENTRE FOR WRITING
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
Page
Trustees' report 1-13
Audit Report 14-16
Consolidated Statement of financial activities 17
Consolidated Balance Sheet 18
Charity Balance Sheet 19
Consolidated and Charity Statement of Cash Flows 20
Notes to the financial statements 21 - 42
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_as restated as restated_
restricted funds increased by £5,156 (2024 _as restated_ : increased by £187,760). At 31 March 2025 unrestricted funds totalled £1,679,213 (2024: £1,760,734) and restricted funds £219,433 (2024 _as restated_
The trustees have established a policy whereby free reserves held by the charity should represent four months of total overheads, which amounts to approximately £240k. They consider that this level of reserves is required to cover the charity's full range of activities and obligations. The reserves policy is discussed at each board meeting.
Free reserves, represented by unrestricted funds less designated funds and fixed assets, amounted to £192,081 at 31 March 2025 (2024: £238,206). Restricted fund balances amounted to £219,435 (2024 _as restated_ : £214,279). Designated funds amounted to £1,535,575 (2024: £1,522,526) being the Strategic Reserve, ACE NPO Uplift Fund and the Fixed Asset Improvement Fund.
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## **Recruitment and appointment of trustees**
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## _1._
## _2._
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The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
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Alan Waters
Alan Waters (Dec 11, 2025, 11:11pm)
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## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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## _**As restated**_
_**As restated**_
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## _**As restated**_
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11 Dec 2025
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## Alan Waters
Alan Waters (Dec 11, 2025, 11:11pm)
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## _**As restated**_
## Alan Waters
Alan Waters (Dec 11, 2025, 11:11pm)
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_**As restated**_
-
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## **Going concern**
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## **Going concern (continued)**
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_**As restated As restated**_ 2024 2024 2024 £ £ 93,928 178,083 272,011 173,337 29,604 202,941 55,199 64,018 119,217 676,395 - 676,395 998,859 271,705 1,270,564 _**As restated**_
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## _**As restated**_
484,851
47,719
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The trustees neither received nor waived any remuneration during the year. In the prior 2023/24 financial year, one former trustee was paid remuneration and received other benefits from employment with the charity: Dr Chris Gribble received remuneration of £34,571 and pension contributions of £1,383, paid under his former role as Chief Executive Officer of the charity. The CEO was paid under the authority of the Memorandum and Articles of association, as amended by Special Resolution in 2011.
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## _**As restated**_
_**As restated**_
_**As restated**_
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1,640,026 [120.410] _ 97,175 46,383 1,908,994
159,096 59,394 65,226 3,722 - 287,438
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_**As restated**_
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## _**As restated**_
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13,423 - 54,332
19,824 (19,824) -
46,383.00 - 1,902,677
3,722 - 286,835
3,675 - 60,432
7,397 - 347,267
38,986 - 1,555,410
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_**As restated**_
25,947 25,947
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48,191
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238,206
46,199
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290
69
- -
- - - - - - - - - -
610 - ~~219,435~~
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238,206
46,199
_**As restated**_
## _**As restated**_
293
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_**As restated**_
_**As restated**_
- 2,204 (686) - (4,590) - 1,000 (1,258) - 4,150 (1,944) - - (345) - - (500) - 31,653 (33,865) - - - 5,142 (4,776) - - (421) - - 290 - - - (41) 1,600 (2,800) 3,405 (14,299) 43,041 (3,869) - 717 - - -
## **ACE NPO Funding Uplift**
The designated fund relates to additional programme funding as part of the 2023 – 26 NPO funding.
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## **ILX formerly known as ILS**
Formerly known as ILS, ILX is the newest strand of our long-running programme, supported by British Council. Running from 2024-26, ILX explores the unique challenges and opportunities facing all those who work with words, books and literature, bringing together international literature professionals with the aim of learning, exchanging expertise and experience, devising collaborations, and building international networks. ILX 2023/24 was delivered across a series of 4-hour digital symposia for 35 international delegates including ILS alumni, from 24 countries and saw publication of the ILX-10 – a selection of 10 UK early-career writers whose work has the potential to speak to and engage with global literary audiences. Our core priority for 24/ 25 is focussed on increasing next-generation leadership and networking capacity – and creating the associated support for this – in the UK and international literature sectors. Focus is on development and implementation of a new programme model that invites delegates to form local hubs which then contribute to a wider, international network for discussion and exchange.
## **NHLF**
Heritage Fund to support 'The Next Chapter: Stepping into Dragon Hall'. This flagship heritage project will enable new and expanded audiences to access and explore the heritage of NCW’s medieval home.
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## **ACE Korea Residency**
The Arts Council of Korea (ARKO) supported a one-month residency in Norwich for one Korean writer in November 2023.
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Tangible fixed assets 1,555,795 - 1,555,795 Intangible fixed assets 24,077 - 24,077 Net current assets 99,339 219,435 318,774 1,679,211 219,435 1,898,646 _**As restated As restated As restated**_
Tangible fixed assets Intangible fixed assets Net current assets
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The Trustee, Professor S Barrow, was the Pro Vice Chancellor of the University of East Anglia. Annual funding of 50,000 (2024: £27,276) was received during the year from the UEA, of which £nil was outstanding at year end (2024: £Nil).
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