OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Registered charity number 1125610 Company number 05747142

English PEN

Report and financial statements for the year ended 31 March 2023

Contents

Page(s)
Legal and administrative details 3
Trustees’annual report 4 - 18
Independentauditor’sreport 19 - 21
Statement of financial activities 22
Balance sheet 23
Statement of cash flows 24
Notes to the financial statements 25 - 37

Legal and administrative details

Registered office 24 Bedford Row London WC1R 4EH

Registered charity number 1125610 Company number 05747142 (England and Wales)

Trustees

The Trustees, who are also directors of the company under Company Law, in office during the year and up to the date of signing the financial statements were:

Arifa Akbar, Appointed 23 March 2021 L Beresford-Knox Appointed 25 January 2023 R Borthwick Appointed 19 March 2019, elected Chair 7 December 2021, (reappointed 8 December 2022) M Buyum Appointed 23 June 2020 C Galvin Resigned 15 May 2023 G Godwin Appointed 25 June 2019 (reappointed 8 December 2022) T Hodgkinson Appointed 23 June 2020 G Lindvall Gunaratne Appointed 23 June 2020 D Miller Appointed 1 October 2017 (reappointed 7 December 2021) S Quraishi Appointed 2 December 2015 A Schilz Appointed 19 October 2021 S Schnee Resigned 8 December 2022 J Stocks Appointed 22 June 2021 V Yeginsu Appointed 26 January 2021 Honorary President M Busby (appointed 19 April 2023) Director D Gorman Independent auditors Knox Cropper LLP 65-68 Leadenhall Street London EC3A 2AD Bankers HSBC 76-78 Kings Road London SW3 4TZ Triodos Bank Deanery Road Bristol BS1 5AS

3

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Structure, governance and management

English PEN was incorporated on 17 March 2006 and registered as a charity on 26 August 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company, and is governed by Articles of Association (as amended 27 June 2017) and a deed of trust. The company is limited by guarantee as defined by the Companies Act 2006 and in the event of the company being wound up, company directors are required to contribute an amount not exceeding £1.

Membership of English PEN is open to poets, playwrights, essayists, editors, journalists, novelists, translators, publishers and other persons who share the organisation’s aims of promoting literature and human rights. Members have the right to stand and vote in elections to the Board, ensuring a high standard of internal transparency and accountability.

The board of trustees, led by the chair, is responsible for the organisation’s governance. The board meets quarterly and at each meeting considers a full report form the director, including the latest management accounts.

Several subcommittees, each governed by their own terms of reference, exist to support board oversight and decision-making. These include the finance and audit committee and the appointments committee. Subcommittees regularly throughout the year to consider specific business.

Responsibility for the day-to-day management of the charity is delegated to the director, who oversees the work of staff and volunteers. The director attends all board meetings.

Trustee recruitment and induction

New trustees are selected having regard to the skills and competencies required by the charity in delivering its objects. Current trustees have experience and knowledge of the organisation’s activities, as well as finance and development expertise.

New trustees receive background material to familiarise themselves with the history and activities of the charity as well as Charity Commission documentation to inform them of their responsibilities and obligations under charity law. In addition, they are briefed by the director on key policy and operational issues facing the organisation.

Board performance is reviewed annually at an away day, where annual progress is also reviewed and future strategy and targets agreed.

Public benefit

English PEN constitutes a public benefit entity as defined by FRS 102.

In shaping English PEN’s objectives and planning the charity’s activities, the trustees have considered the Charity Commission’s guidance on public benefit.

English PEN’s registration as a charity on 26 August 2008 marked the Charity Commission’s acceptance of the organisation’s public benefit throughout its activities. The Charity Commission agreed with the trustees that ‘writers, authors, editors, publishers and other persons similarly engaged throughout the world’ constitute a ‘particularly vulnerable’ class of beneficiaries. This ruling enables English PEN to concentrate its resources most effectively on this beneficiary class, while benefiting the public generally.

4

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Related parties

English PEN is the founding centre of PEN International, and has voting rights at the Assembly of Delegates, which constitutes PEN International’s Annual General Meeting.

Strategic report

Aims and objectives

The objectives of the charity are:

5

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Chair’s report

As we enter our 101[st] year, English PEN has consolidated and developed its work in many ways holding true to our mission of defending, supporting and championing the freedom to write and the freedom to read. This has included significant campaigns for both individual writers in times of risk and also relating to national issues of freedom of expression, support for literature in translation, as well as the publication, presentation and celebration of writers through events, online publications and PEN prizes.

During 2022/23 English PEN has continued to work with writers at risk, and we have led or joined campaigns for writers in the UK and around the world. As ever, our support is tailored to individual cases and takes a range of forms, including solidarity, awareness raising, financial support, participation in public events, hosting and attending meetings with writers at risk and/or their representatives, and the provision of behind-the-scenes support. During this period, we have supported more than 40 writers in various ways (including those in prison, in exile, and otherwise at risk) and continued our PENWrites programme - a letter-writing campaign encouraging members and supporters to send messages of solidarity to writers in prison and at risk.

Here at home, English PEN’s work to promote and safeguard freedom of expression in the UK continues to be of paramount importance, with a strong focus on draft legislation and policy to ensure everyone in England can access their right to freedom of expression. This year,we continued our work to combat the use of Strategic Lawsuits Against Public Participation (SLAPPs) as co-Chairs of the UK anti-SLAPP Coalition. We also worked to defend the Human Rights Act, and voiced concerns about potential threats to freedom of expression within the National Security Bill, the Online Safety Bill and the Higher Education (Freedom of Speech) Act.

Our work to support literature in translation increasing bibliodiversity in the UK developed considerably in 2022/23, building on our successes in grant-giving, online publishing, events programming and advocacy. Through our flagship grant PEN Translates, we awarded grants worth £91,000 to 36 books – from 28 countries, and through PEN Presents our new project supporting and showcasing sample translations – we awarded grants to 12 translators of Indian literature. Our online magazine PEN Transmissions commissioned work from 31 writers and translators, reaching 29,000 readers across the world, and our two-day programme for International Translation Day was attended by 210 translators and literary professionals. In June 2022, we published All Walls Collapse: Stories of Separation with Comma Press. This specially commissioned anthology of 11 short stories in translation marked 10 years of the PEN Translates programme.

Once again, English PEN continued to have a rich and diverse events programme, both online and inperson, with total audiences of over 4,000. In 2022 English PEN concluded its centenary programme ‘Common Currency’ with a number of events and workshops across England. Following the shocking attack on Sir Salman Rushdie we were honoured to be able to coordinate an event with several partners held at the British Library to celebrate this remarkable individual, his writing, his activism and his resilience. Speakers at the event included many of those close to Salman. We also hosted events with partners across the country and with writers including Julian Barnes, Monica Ali, Hanif Kureishi, Nigella Lawson, Mona Arshi, Tsitsi Dangarembga, Ghaith Abdul-Ahad and others. Malorie Blackman was announced as the winner of the PEN Pinter Prize, shared with Bahraini academic and writer Dr Abduljalil Singace. The PEN Hessell-Tiltman Prize for historical non-fiction was awarded to Francesca Stavrakopoulou and the PEN Ackerley Prize for literary memoir was awarded to Francis Stoner Saunders. The 2022 PEN HG Wells lecture was delivered by Ahdaf Soueif as part of the Folkestone Book Festival.

During the year we held the First Editions Second Thoughts auction in support of our work. This remarkable event brought together authors from across the UK and internationally who created unique

6

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

annotations of first editions of their most popular books. These editions were then auctioned at Christie’s, in a major partnership with the auction house. We are deeply grateful to all the writers and illustrators who took part, to Christie’s auction house, and to Belinda Kitchin who worked tirelessly to bring the entire project together.

Throughout this period the dynamic staff team was led by our energetic Director Daniel Gorman. I am very grateful to him and all the English PEN team of staff and volunteers, who continue to work for, develop and support English PEN. I am deeply honoured to lead the Board of Trustees who are steadfast in their support for English PEN, and who I thank for their thoughtful work.

Operating at the intersection between arts and human rights, partnership is central to every piece of work that English PEN undertakes. We are hugely thankful to our members, our Silver PEN partners, our campaign collaborators and our programme partners for their support for the organisation and our work.

Ruth Borthwick, Chair

Director’s Report

It was once again my honour to lead English PEN as director. This incredible organisation is very much the product of its parts, and I am privileged to witness on a daily basis the work of our deeply driven and highly effective team. English PEN The English PEN team have now settled well into our new offices at Bedford Row, where we have excellent communication with other partner and relevant organisations in the building. We continue with hybrid working, recognising the different needs of the various individuals we work with.

We are deeply grateful to the funders who support our work. In particular, I would once again like to thank our core funders, the Arts Council England and the T S Eliot Foundation. These key funders support our core work to celebrate great literature and the transmission of ideas in myriad ways.

We are also hugely thankful to the funders of specific strands of our work. This includes support from the Booker Foundation; the British Council; the Authors’ Licensing and Collecting Society; Fondation Jan Michalski; Bloomberg; the Blavatnik Family Foundation for the PEN Pinter Prize; and Open Society Foundations. Along with core support, Arts Council England also awards us the funding to deliver PEN Translates.

We are also deeply thankful to our Silver PEN partners for their support. In 2022/23 this included: Amazon UK, Bloomberg Philanthropies, Canongate, David Higham Associates, HarperCollins, London Book Fair, The London Library, Penguin Random House, and Pushkin Press. There are many other funders and individual donors who have contributed to prizes, to our campaigning and our core costs. Thank you to you all.

Members are the backbone of English PEN’s work, and we benefit from a dedicated membership who believe strongly in English PEN’s values. Members support our work in various ways, from simply being a member and providing us with the gravitas of your voice, to actively engaging in our campaigns, events and translation work. We are honoured to have you with us.

English PEN works to celebrates the diversity of literature, and our vision is of a world with free expression and equity of opportunity for all readers and writers. In many ways this vision feels far away, but in conversations with those directly engaging in our work, it is tangible and present. We will continue defending and advancing our rights and championing the freedom to write and the freedom to – read. We are so grateful to all of you who engage with our work thank you. Daniel Gorman, Director

7

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Impact

Campaigning for international writers at risk

Throughout 2022-23 English PEN continued to support writers in prison and at risk around the world. As ever, our support is tailored to individual cases, subject to informed consent, and takes a range of forms:

Highlights in 2022 included:

The release of Nedim Türfent (Turkey)

In November 2022, we welcomed the news of imprisoned journalist, poet and Honorary Member Nedim Turfent’s release after more than six years in prison. Nedim has been a key case of concern for PEN for many years and was one of the first writers to be featured in our PENWrites campaign. He was also among the writers featured in Ai Weiwei's installation at the Southbank Centre and wrote a piece for PEN Transmissions in response.

Nedim is hugely grateful for the support he has received from PEN members and supporters throughout his time in detention:

I am deeply grateful to you for your unique support and solidarity through all the process in the jail. Without you, it would [have been] intolerable for me...

I am so pleased to have you in my life and deeply grateful to English PEN and to each of their fellow members. Thanks for all your efforts in the process of prison and for the ongoing efforts.

In October 2022, imprisoned academic and blogger Dr Abduljalil Al-Singace, a long-standing case of concern to English PEN, was announced as the winner of the 2022 PEN Pinter Prize for a Writer of Courage by fellow winner Malorie Blackman. The ceremony afforded us an opportunity to amplify Dr AlSingace's case, and the recognition clearly meant a great deal to him and his loved ones:

Words are not enough to demonstrate how delighted and [honoured] I feel. Thank you for drawing a smile on [Dr Al-Singace's] face. Thank you all for not forgetting [him]. Thank you all for [honouring him] and all writers at risk around the world. Thank you all for everything. I hope that one day [he] can thank you in person for all your support and kindness.

Appointing British-Egyptian writer and activist Alaa Abd El-Fattah as an Honorary Member

Throughout 2022-23, we have been working closely with Alaa Abd El-Fattah's family to campaign for – his release. Actions have taken multiple forms including attending protests outside the FCDO and Downing Street, co-sponsoring public events, supporting open letters, and lobbying the British

8

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

government. The offer of Honorary Membership was warmly welcomed by his family: Omar Robert Hamilton, his first cousin, commented:

Freedom of Expression – of thought and the courage to speak the truth whatever its consequences – is the foundation of what makes Alaa who he is. So, to become an honorary member of PEN could not be more fitting and we’re grateful for everything the organisation has done as part of our collective efforts to get him out of prison and back to the UK.

PENWrites campaign

We have continued to encourage members to actively support our work through the PENWrites – campaign including for both new and existing cases:

Residencies

We were delighted to resume hosting resident writers in 2022-23. This included writer, lawyer, and human rights defender Nurcan Kaya, journalist Buse Söğütlü, and author Sema Kaygusuz.

The majority of English PEN’s work is done in partnership. For our work in solidarity with writers in times of risk this has included developing a a three-year agreement with the London Library, A new relationship with the Goethe-Institut relating to our residency programme and as members of the Journalists in Distress Network.

UK Legislation and Policy

English PEN maintains a strong focus on draft legislation and policy to ensure everyone in England can access their right to freedom of expression, as follows:

SLAPPs

– In the period March 2022 March 2023, English PEN’s UK campaigns work heavily focused on SLAPPs. We responded to the Government’s Call for Evidence, as part of the UK anti-SLAPP Coalition (“the Coalition”), of which English PEN is a co -chair. The Government responded to the Call of Evidence and committed to bringing forward legislative instruments to combat SLAPPs. We drafted the Model UK anti-SLAPP law, in collaboration and consultation with solicitors and barristers. The model law was published in October 2022 and presented in the House of Parliament with speeches from across the benches. It received coverage from a wide range of newspapers - including the Guardian, The Times, the Daily Mail, and the Financial Times - after more than 70 leading editors and industry experts endorsed the model law and called for its adoption. As part of the Coalition, we also engaged and continue to engage with the Solicitors Regulation Authority (SRA) to challenge legal norms and advance accountability for the use of SLAPPs and SLAPP tactics by solicitors.

In the last year, the engagement with the anti-SLAPP campaign by various individuals and NGOs from different fields has significantly risen. English PEN has now become the advocacy lead of the Coalition. During the UK Anti-SLAPP Conference in November - in which English PEN participated in two of the panels - we received further good news with the publication of a warning notice from the Solicitors Regulatory Agency (SRA). We continue to campaign for a stand-alone anti-SLAPP legislation and, as such, we continue to engage with MPs, peers, and relevant ministries.

Human Rights Act and the Bill of Rights

Soon after the closure of the Human Rights Act reform consultation, the Government had announced in 2022 that it would repeal the Human Rights Act and introduce a new ‘Bill of Rights’. We worked with

9

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

partner organizations to articulate our concerns and underline how the proposed bill would weaken freedom of expression.

National Security Bill

English PEN, along with a wide range of freedom of expression and media freedom organizations, expressed its concerns regarding the National Security Bill as it poses serious threats to freedom of expression and media freedom. Despite amendments from Government relating to these concerns and assurances that the bill will not criminalize legitimate activity, such as journalism, we remain concerned that there are continuing risks to freedom of expression contained within this Bill.

Online Safety Bill

English PEN has been engaged in various discussions around the Online Safety Bill and the threats posed by it to freedom of expression. In 2022, we participated in a roundtable hosted by the Department for Digital, Culture, Media & Sports (DCMS) on the bill as well as various meetings on campaign strategy. We remain extremely concerned specifically about the potential weakening of endto-end encryption, this technology is vital to many of the writers and activists we work with.

Higher Education (Freedom of Speech) Act: English PEN engaged in various consultations relating to the Higher Education (Freedom of Speech) Act.

Supporting International and Translated Literature

PEN Translates

PEN Translates has now supported over 350 books from over 95 languages with over £1m of funding, – developing literary diversity in the UK while ensuring translators are paid properly for their work. In 2022 23, PEN Translates:

PEN Translates has particularly supported small publishers at the vanguard of literary translation, for whom 100% of translations costs are awardable. In 2022 – 23, we:

– PEN Translates-supported titles continue to be recognised by national and international prizes. In 2022 23, books made possible by the programme won the:

10

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

PEN Presents

– After a year-long industry consultation across 2021 22, we launched PEN Presents, a programme supporting and showcasing sample translations, funding the often-unpaid work of creating samples, giving UK publishers access to titles from underrepresented languages and regions, and helping diversify the translated literature landscape.

In partnership with the British Council, our inaugural round, focusing on literatures of the languages of India, received submissions from 49 translators working from 13 languages, 12 of whom were awarded grants to create 5,000-word sample translations of their proposed works. Six samples were selected by a cross-industry panel of seven experts (from the UK and Indian literary sectors) to receive editorial support, be published in an issue in the new PEN Presents online platform and be promoted to Anglophone publishers. Two of the selected titled have been acquired for publication by Penguin Random House India.

In January 2023, six of the selected translators and authors appeared at literary festivals in India, in events programmed by English PEN. They spoke to audiences of 800 at Jaipur Literature Festival, Kerela Literature Festival, and Hyderabad Literature Festival. Also in January 2023, our first global round of PEN – for works of any language, region, era, form, and style – was launched in collaboration with Translating Women and the University of Exeter, receiving 125 proposals for work in 51 different languages.

International Translation Day

On 29 – 30 September 2022, we held the 13[th] annual International Translation Day (ITD), expanding into a two-day programme. A day of in-person talks, workshops and live pitching at Conway Hall, London was followed by an online day of conversations with a headline from International Booker Prize winners Daisy Rockwell and Geetanjali Shree. The programme featured talks on the post-pandemic profession, what translators and editors want from each other, career progression from ‘aspiring’ to ‘established’, samples and connecting to publishers, the power of the bookseller, and an extended roundtable session on rights, royalties, pay and conditio ns; workshops on translating children’s literature, translating playscripts and negotiating contracts; and three translators live pitching projects to publishers from Faber & Faber, DigitalBack Books, and Weidenfeld & Nicholson.

The programme was generously supported by the Authors’ Licensing and Collecting Society (ALCS), the Booker Prize Foundation, and the National Centre for Writing.

PEN Transmissions

PEN Transmissions is English PEN’s online magazine for international and translated literature. In 2022 – 23, personal essays and interviews on PEN Transmissions reached 29,000 readers in 163 countries. Across the year:

11

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

All Walls Collapse: Stories of Separation

In June 2022, we published All Walls Collapse: Stories of Separation in partnership with Comma Press. The specially commissioned anthology of new short fiction in translation marks 10 years of PEN Translates, and was developed as part of English PEN’s Centenary. With a foreword from former English PEN President Philippe Sands KC, the collection features:

All Walls Collapse received praise from major writers and in international press:

‘Richly varied . . . a powerful anthology.’

‘Invigorating.’

With Comma Press, we toured All Walls Collapse at major UK literary festivals, with events including:

Celebrating literary talent

English PEN delivers an annual programme of events to platform writers who engage with issues of freedom of expression, or whose own freedom of expression has been affected, including those traditionally underrepresented in the UK. We aim to create engaging and accessible cultural

12

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

opportunities for audiences and to convene and facilitate spaces for people to openly share ideas. Our prizes serve to recognise and award contributions to literature and freedom of expression and to bring attention to global cases of persecution and censorship.

The year began with the completion of English PEN’s centenary celebrations, which had been extended owing to the Covid-19 pandemic. It also saw the introduction of a new Events and Prizes Manager. The programme of work comprises several event fixtures – such as the PEN Pinter Prize – and the necessity to respond quickly to events of global significance. Our events reached a total combined audience of over 4000 people in 2022-23. These include:

FEST Fundraising Auction and events

FEST (First Editions, Second Thoughts) was English PEN’s large -scale fundraising project, which culminated in a series of events and on-line fundraising auction at Christie’s auction house. Esteemed authors were invited to annotate first edition copies of their books, which were then sold at auction to raise funds for English PEN’s work. Contributing writers including Tracy Chevalier, Philippe Sands, Anna Enright, David Nichols, Jung Chang and Elif Shafak took part in events.

An Evening for Salman Rushdie

Following the shocking attack on Salman Rushdie at an event in New York on 12 August, English PEN worked closely with Caroline Michel and a number of partners to host an event at, and in in close partnership with, the British Library in October 2022 in recognition of his writing and activism.

The aim of the event was to celebrate Rushdie as a writer, activist and champion to countless individuals in the literary community and beyond. The event was supported by PEN International, Index on Censorship, Article 19, Humanists UK and Penguin UK; as organisations concerned with the protection of freedom of expression, we wanted to recognise Rushdie’s tireless contributions to this global cause.

The event was hosted by Georgina Godwin and consisted of readings and personal reflections from the following speakers:

London Book Fair

The English PEN Literary Salon returned as an in-person events programme as part of the 2022 fair. The programme included:

13

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Writing to Combat Conflict and Corruption

Held at and in partnership with the Southbank Centre as part of its London Literature Festival, this panel comprised historian and writer Dr Olesya Khromeychuk, author and investigative reporter Tom Burgis and the former mayor of Maidan Shahr, Afghanistan, Zarifa Ghafari in discussion with writer and editor-in-chief of openDemocracy, Peter Geoghegan, talking about about their methods and motivations in telling their stories, as well as the realities of creating art in close proximity to conflict.

H. G. Wells Lecture 2022

The 2022 H. G. Wells Lecture was delivered by author and activist Ahdaf Soueif as part of Folkestone Book Festival. Through her lecture, Soueif discussed what it means when people limit or prevent public access to literature, the fear from which this act of censorship stems, and can books meaningfully influence how we respond to the world around us.

Other events

English PEN was a partner on many other events throughout the year, working with writers including former PEN Pinter Prize winner Tsitsi Dangarembga in conversation with writer Irenosen Okojie, Juliet Jacques participation in an event hosted to mark the fifth anniversary of the murder of investigative journalist, Daphne Caruana Galizia in Malta, Awet Fissehaye and Hanna Komar, Ahdaf Soueif and Stella Assange in conversation with Salil Tripathi to mark Day of the Imprisoned Writer and an online event with Margret Atwood in conversation with Neil Gaiman to celebrate the publication of Salman Rushdie’s latest novel, Victory City .

Common Currency

Our centenary project Common Currency concluded in 2022 with a number of projects taking place with national partners. These included:

2022 PEN Pinter Prize

The 2022 PEN Pinter Prize was awarded to Malorie Blackman in recognition of her contribution to literature and freedom of expression; it marked the first time a children’s/YA author had won the prize. Malorie chose the award-winning academic, activist, and blogger Dr Abduljalil Al-Singace, from Bahrain, as the 2022 Writer of Courage. Al-Singace has spent the last decade in prison, where he is serving a life-sentence for his role in the 2011 pro-democracy protests. The award was accepted on his behalf by Sayed Ahmed Alwadaei, director of advocacy at the UK-based Bahrain Institute for Rights

14

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

and Democracy, with a speech read in both Arabic and English. At a ceremony held in the Entrance Hall of the British Library, children’s author Verna Wilkins delivered an encomium in honour of Malorie and author-illustrator Dapo Adeola was commissioned to produce an artwork charting the highlights of her impressive career.

PEN Ackerley Prize

The PEN Ackerley Prize ceremony was hosted at the London Library on 14 July, where Frances Stonor Saunders was announced as the winner for her memoir, The Suitcase . The three shortlisted authors, which also included Arifa Akbar and Roy Watkins, discussed their respective books with chair of judges, Peter Parker.

PEN Hessell-Tiltman Prize

The 2022 PEN Hessell-Tiltman Prize was won by Francesca Stavrakopoulou for her book, God: An Anatomy (Pan MacMillan). Francesca and several other shortlisted writers attended the event in London, where they each discussed their books in conversation with the chair of judges, Olivette Otele. The other judges this year were author, Dr Emma Southon and author and editor, Will Rees.

Membership

Membership has been stable throughout this period, with a current (July 2023) total of 1,008 members . This year we welcomed one new Honorary Member – Alaa Abd el-Fattah.

The objectives set as part of our Bloomberg Philanthropies-funded Digital Accelerator Programme, awarded in 2022, are to reach new audiences, better understand our existing communities, and grow and diversify our membership. Following consultation with external specialists, who helped design audience surveys and focus groups, we are now devising a phased strategy to identify our current membership (including lapsed members), segment audiences effectively, and launch targeted campaigns to grow our membership. For the first time in its digital history, English PEN has gathered enough qualitative and quantitative data to begin to build a strategy to better serve its audiences and membership.

As part of this initial phase of our Digital Accelerator Programme, we also worked with a CRM consultant to find the best way to integrate a system that allows us to communicate with our membership, fundraise, and manage our lists more efficiently. We aim to finish our CRM implementation by the end of 2023.

Communications

Digital engagement

In autumn 2022 we were awarded support from by Bloomberg Philanthropies as part of their Digital Accelerator Programme. For each Accelerator programme a Bloomberg Tech Fellow drives the development and implementation of the organisation’s digital project over a minimum of two years. We are currently approaching the end of Year 1 of our project, which concludes the first phase of audience and membership insights and strategy.

Of the five strategic objectives in our business plan, the Digital Accelerator Programme addresses our aim to develop a sustainable and resilient organisation. To meet this strategic objective, our aim is to reach new audiences, better understand our existing communities, and grow and diversify our membership.

To this end, our project includes website redevelopment, audience insights, reinvigorating our membership, and CRM integration.

15

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Website

We launched a new section of our website for PEN Presents, our new programme supporting and showcasing sample translation. We are also working on a wider digital development and engagement programme, as part of our Bloomberg Philanthropies Digital Accelerator fund, which will improve user experience and the English PEN team’s digital capacity. We now have a new analytics dashboard, which allows us to view and report on website traffic and engagement. The next phases of our web development include improved navigation and website architecture, CRM integration and email marketing design.

Press highlights

2022 – 23 media coverage highlights include: the announcement of our First Editions, Second Thoughts auction in partnership with Christie’s in The Guardian , including an interview with contributor Tom Stoppard in The Telegraph ; the news of Malorie Blackman winning the PEN Pinter Prize 2022 in The Guardian as well as the announcement of the Writer of Courage, Dr Abduljalil Al-Singace; news coverage featuring Ruth Borthwick following the attack on Salman Rushdie on Channel 4 News, and our event celebrating Rushdie’s work was featured in the Evening Standard , The Guardian ; and the announcement of our new president, Margaret Busby. All our translation and prize announcements, including the launch of the new PEN Presents programme, were featured in book and publishing publications including The Bookseller , Publishing Perspectives and BookBrunch .

Social media & email marketing

Our Twitter following has increased to 52,135, 4,678 on Instagram, 12,598 on Facebook and 27,643 on LinkedIn.

We have continued monthly emails to our three core audiences (members, bulletin subscribers, PENWrites subscribers).

Financial review

The net results for the year, an overall surplus of £624k, comprises a surplus of £546k on unrestricted funds and a surplus of £78k on restricted funds.

Income for the year shows a significant increase on the previous year, at £1.48m (2022: £636k). This is largely attributable to an increase in unrestricted income (from £361k in 2021/22 to £985k in 2022/23) including substantial funds generated by the FEST auction and a one-off unrestricted grant of £101k from the Open Society Foundation. Restricted income also increased from £276k in 2021/22 to £492k in 2022/23.

Expenditure for the year shows a corresponding increase, at £842k (£432k unrestricted; £410k restricted) compared to £682k (£295k unrestricted, £388k restricted) in 2021/22. This reflects the increase in fundraising and activity costs during the year, particularly costs associated with the FEST auction.

– As at 31 March 2023, unrestricted free reserves that is, unrestricted funds excluding those – represented by fixed assets and designated funds were £544k. This is greater than the reserves policy of holding the equivalent of a minimum of six month’s operating costs. Restricted funds of £427k, were held at year end.

Risk 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.

The charity maintains and reviews a risk register, which focuses on the major strategic and operational

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

risks the charity faces, including mitigating actions to reduce each risk to a level the trustees consider acceptable. The risk register is reviewed and maintained by the director and reviewed in detail by the trustees annually.

The major risks faced by the charity are:

Reserves policy

The trustees have adopted a risk-based approach to determine an appropriate level of reserves and it is the charity’s policy to hold unrestricted free reserves to cover operating costs for three months. At 31 March 2023, unrestricted free reserves were £544k, of which £316k is equivalent to approximately six months running costs.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees have given due consideration to the working capital and cash flow requirements and consider current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 12 months from the date of signing this report and the financial statements.

Statement of trustees’ responsibilities

The trustees (who are also the directors of English PEN for the purpose of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

17

English PEN Report and financial statements for the year ended 31 March 2023

Trustees’ Annual Report

Statement as to disclosure of information to auditors

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company’s auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of audit information and to establish that the charitable company’s auditors are aware of that information.

On behalf of the board

Ruth Borthwick, Chair 04 October 2023

18

English PEN Report and financial statements for the year ended 31 March 2023

Independent Auditor’s Report to Members of English

Opinion

We have audited the financial statements of English PEN (the ‘charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

19

English PEN Report and financial statements for the year ended 31 March 2023

Independent Auditor’s Report to Members of English

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

20

English PEN Report and financial statements for the year ended 31 March 2023

Independent Auditor’s Report to Members of English

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:

A further description of our responsibilities for the audit of the financi al statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Simon Goodridge Senior Statutory Auditor for and on behalf of Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3A 2AD

21

English PEN Report and financial statements for the year ended 31 March 2023 Statement of flnanclal a¢tlvltle$ for the year ended 31 Mar¢h 2023 Ut)re8trl¢t8d funds R88trfjcted hJnd$ Total 2022123 Totsl 2021122 tes Income and tndowmnts from.. Donat￿n$ and leg8¢ES Chatitable aclwilies.. Cofflfftunity Engagen￿Rt ￿llte￿ in C8Mpa￿￿$ & Wnters 8t Risk Pnzes Othérch8nt8b￿ N)com$ Other Ir8ding activit￿$ Investments Other 205.822 205.822 168,226 167,350 216,962 85,898 20,000 167,350 251.962 217.873 20.028 117,264 465.929 9.085 21.787 25,950 156,772 35.000 131.975 28 117,264 465.929 7.395 21.787 15,000 132,259 1,086 8,746 16,786 1,690 Total Ir￿0m 9B5,200 491,900 1,477,100 636,236 Expendiiure on.. Ra￿Ing funds 117.486 117.486 10,583 Chatitable aclwilies.- comfflu￿ltY Engag&n￿Rt ￿￿t6￿ In Tr8nsktDn c9mpa￿￿S & Wnters 8t Risk Pnzes OtheTchènt8bb 8xpénditurè 9,561 164.526 110.728 9.459 20,S78 72,142 218,588 97,782 21,258 81,703 383.113 208.510 30,717 20,578 181,856 243,389 192,948 30,677 22,725 Totsl expendltyrv 432.337 409,770 842.107 682,178 N8t operating In¢omo1 18xp8naiwre bpfore gainsl Ilossesl on investmerbts 552,864 82.130 634,993 145,9421 Net Iloss?$ll galns on Invesbnents 14 16.9821 13,8471 110.8291 4,435 N8t movement In funds 545,882 78.283 624,164 141,5071 Funds brought forward 462.311 348,489 810.800 852,307 Fund5 carried forward I,OOB,193 426,772 1,434,964 810,800 All of the above resuhs are derived from continuing activities and there are no othergains or knsses than those slated above. A comparative slalernent of financial activities is presente(l on page 37 22

English PEN Report and financial statements forthe year ended 31 March 2023 Balance sheet as at 31 March 2023 Unrestricted funds Restricted fvnd$ 31 March 2023 31 March 2022 Notes Fixed assets Tangible fixed assets Inv8Stmenl8 13 14 8.922 188 095 177,017 8.922 229.809 238.731 11.895 240,638 252,533 61,714 urrent a$$ets Debtors Cash at bank and in hand 15 21.709 852.094 873.803 41,900 361,007 402,907 63.609 1.213.101 1.276.710 5.954 693.430 699.384 Creditors ATnounts falling due within one year 16 42.628 37.849 80.477 141.117 Net current assets 831 175 365 058 1 196 233 558.267 Net assets 1 008 192 426 772 1 434 964 810 800 Funds Unrestncted general UnreslnctÈd designatÈd RestriGted 553,193 455.000 553.193 455.000 426.773 412,311 50.000 348.489 426.773 Total funds 1 008 193 426 773 1 434 965 810.800 The Inanclal statèments wer& approved by the Board on 4 October 2023 and 8ign&d on Its b&half by.. Ruth Borthwick Chair Joanna Stocks Treasur8r Company number. 05747142 23

English PEN

Report and financial statements for the year ended 31 March 2023

Statement of cash flows for the year ended 31 March 2023

Total Total
Note 2022/23 2021/22
£ £
Net cash provided by/ (used in) operating activities A 510,588 33,488
Cash flows from investing activities:
Interest on bank deposits 2,557 43
Dividends on investments 6,528 8,746
Net cash provided by investing activities 9,085 8,789
Cash flows from financing activities:
Purchase of fixed assets - 5,834
Repayment of finance lease - -
Net cash used in financing activities - 5,834
Change in cash and cash equivalents in the year 519,671 36,400
Cash and cash equivalents brought forward 693,430 657,030
Cash and cash equivalents carried forward 1,213,101 693,430
Note A: Reconciliation of net expenditure to net cash flow from operating activities
Net income/ (expenditure) for the year (as per the statement
of financial activities) 624,164 (41,507)
Depreciation charges 2,974 2,831
Loss/Gain on disposal of asset 0 0
Interest on bank deposits (2,557) (43)
Dividends on investments (6,528) (8,703)
(Gains)/losses on revaluation of investments 10,829 (4,435)
Decrease/ (increase) in debtors (57,655) 591
(Decrease)/ increase in creditors (60,640) 84,754
Net cash provided by/ (used in) operating activities 510,588 33,488

24

English PEN

Report and financial statements for the year ended 31 March 2023

Accounting policies

a) Basis of preparation

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006.

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.

b) Income

Income is recognised and included in the accounts when the following criteria are met: the charity is entitled to the funds; any performance criteria attached to the item(s) of income have been met; there is sufficient certainty that the receipt of the income is probable; and the amount can be measured reliably.

Income received in advance of an event or a provision of other specified service is deferred until the criteria for income recognition are met.

c) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Wherever possible, costs are directly attributed to these headings. Where costs cannot be directly attributed to particular headings they, have been allocated to activities on a basis consistent with the use of resources.

d) Fund accounting

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the funds raised for particular restricted purposes.

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the charitable objectives of the charity.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund, and the basis of transfers to or from them, are set out in Note 17.

e) Tangible fixed assets

Items with a value greater than £ 1,000 are capitalised. Tangible fixed assets are stated at cost less accumulated depreciation. Provision is made for depreciation on all tangible assets at rates calculated to write off the cost of each asset over its expected useful life, as follows:

25

English PEN

Report and financial statements for the year ended 31 March 2023

Accounting policies

f) Investments

Investments are stated at market value as at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities in the period to which they relate.

g) Pension costs

Pension contributions payable to employee defined contribution pension schemes are charged to the Statement of Financial Activities in the period to which they relate.

h) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. They have considered the impact of external influences such as the cost-ofliving crisis on both its income and expenditure for at least a period of twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

26

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

2
Donations and legacies
Donations
Memberships
Silver PEN members
Silver PEN partners
3
Other trading activities
Fundraising events
Other
4
Investment income
Dividends
Bank interest
5
Other income
Royalty income
Other
6
Analysis of expenditure on raising funds
Direct costs
Governance costs (note 8)
Support costs (note 8)		 Unrestricted
£
72,553
59,269
2,000
72,000
205,822
Unrestricted
£
465,929
-
465,929
Unrestricted
£
4,838
2,557
7,395
Unrestricted
£
21,079
708
21,787
Unrestricted
£
81,308
2,061
34,117
117,486		 Restricted
£
-
-
-
-
-
Restricted
£
-
-
Restricted
£
1,690
-
1,690
Restricted
£
-
-
-
Restricted
£
-
-
-
-		 2023
£
72,553
59,269
2,000
72,000
205,822
2023
£
465,929
-
465,929
2023
£
6,528
2,557
9,085
2023
£
21,079
708
21,787
2023
£
81,308
2,061
34,117
117,486		 2022
£
47,817
60,409
3,000
57,000
168,226
2022
£
-
1,086
1,086
2022
£
8,703
43
8,746
2022
£
16,581
205
16,786
2022
£
7,450
151
2,983
10,584

27

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

7
Analysis of expenditure
Raising funds
Direct costs of fundraising
Charitable activities
Community Engagement
Writers in Translation
Campaigns & Writers at Risk
Prizes
Other charitable expenditure
Total expenditure		 Direct staff
costs 2023
(note 11)
£
7,193
30,916
69,555
85,534
6,500
-
192,505
199,698		 Direct costs
(non-staff)
2023
£
74,115
25,628
195,585
58,769
14,758
14,242
308,982
383,097		 Support
costs 2023
(note 8)
£
36,178
25,159
117,973
64,207
9,459
6,336
223,134
259,312		 Total
2023
£
117,486
81,703
383,113
208,510
30,717
20,578
724,621
842,107		 Direct staff
costs 2022
(note 11)
£
6,650
57,844
34,894
74,183
5,544
-
172,465
179,115		 Direct costs
(non-staff)
2022
£
800
70,167
136,430
61,635
16,050
15,996
300,278
301,078		 Support
costs 2022
(note 8)
£
3,134
53,845
72,065
57,130
9,083
6,729
198,851
201,985		 Total 2022
£
10,583
181,856
243,389
192,948
30,677
22,725
671,595
682,178

28

English PEN Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

8
Allocation of support costs
Expenditure
on charitable
activities 2023
Support costs
Staff costs (note 11)
20,532
126,638
Printing, postage and stationery
309
1,903
Travel, accommodation & subsistence
442
2,723
IT & web costs
1,646
10,153
Insurance
1,225
7,556
Rent
5,476
33,776
Subscriptions
32
195
Bank charges & similar
278
1,713
Other costs
3,763
23,211
Depreciation
415
2,557
Governance costs (note 9)
2,060
12,709
36,178
223,134
The charity allocates its support costs (including Governance costs) as follows:
Expenditure on
raising funds
2023		 Total support
costs 2023
£
147,170
2,212
3,165
11,799
8,781
39,252
227
1,991
26,974
2,972
14,769
259,312		 Expenditure
on raising
funds 2022
2,180
17
8
111
68
325
-
21
209
44
151		 Expenditure
on charitable
activities 2022
138,332
1,095
525
7,017
4,286
20,632
-
1,356
13,244
2,787
9,577		 Total support
costs 2022
£
140,512
1,112
533
7,128
4,354
20,957
-
1,377
13,453
2,831
9,728
3,134 198,851 201,985

Support and Governance costs are allocated based on the direct spend on those activities.

9
Governance costs
Governance costs are broken down as follows:
Legal fees
-
Audit fees
732
Board costs
498
Insurance
242
Other
588
2,060
Expenditure on
raising funds		 Expenditure
on charitable
activities
-
4,518
3,072
1,494
3,625
12,709		 Total
governance
costs
2023
-
5,250
3,570
1,736
4,213
14,769		 Expenditure
on raising
funds 2022
39
78
35
-
-		 Expenditure
on charitable
activities 2022
2,461
4,922
2,194
-
-		 Total
governance
costs
2022
2,500
5,000
2,228
-
-
151 9,577 9,728
10 Net income/ (expenditure) for the year
This is stated after charging:
Operating leases - equipment
Depreciation
Loss on disposal of fixed assets
Auditors' remuneration		 Total
2023
£
-
2,974
-
5,250
8,224		 Total
2022
£
2,916
2,831
-
5,000
10,747

29

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

11 Staff costs and trustees' remuneration and expenses

The aggregate payroll costs were:

Staff costs and trustees' remuneration and expenses
The aggregate payroll costs were:
Wages and salaries
Social security costs
Pension costs
Subtotal payroll costs
Temporary staff and interns
Other staff costs
Total staff costs		 Total
2023
£
305,660
27,629
13,497
346,786
-
13,141
359,927		 Total
2022
£
286,429
23,692
14,369
324,490
-
3,918
328,408

The charity considers its key management personnel comprise the trustees and the director. The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

£60,000-£69,999
£60,000 -£69,999		 2023
£
1		 2022
£
0

During the year, trustees received £ 550; £ 150 each to two trustees, £ 250 to one trustee (2022: £ 0)

During the year, one trustee received reimbursed expenses in connection with Board meetings and Congress amounting to £ 498 (2022: £ 381 to one trustee).

The average number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Writers in Translation
Campaigns & Writers at Risk
Public Programmes
Fundraising
Management, administration & governance		 Total 2023
1.4
2.0
0.9
0.1
3.2
7.6		 Total 2022
1.4
2.0
1.4
0.1
3.4
8.3

The average head count number of staff during the year was 9 (2022: 11)

30

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

12 Grants payable

The charity made the following grants during the year:
Grants to
institutions
£
Writers in Translation
103,071
Writers at Risk (relief grants)
-
103,071
Grants payable continued
Recipients of institutional grants for PEN projects were as follo
ACA Publishing Ltd
And Other Stories Publishing
Arc Publications
Balestier Press
Bloodaxe Books
Cassava Republic Press
Charco Press
Comma Press
Dar Arab
DAS Editions
Daunt Books
Dedalus Ltd
Fitzcarraldo Editions
Flipped Eye Publishing
Fontanka
Fum D'Estampa Press
Heloise Press
Istros Books
Jantar Publishing
Lolli Editions
Momentum Books
Oneworld Publications
Parthian
Peirene Press Ltd
A PEN Centre
Penguin Random House UK
Pluto Press
Polari Press
Profile Books
Prototype Publishing
Pushkin Press
Scotland Street Press
Shearsman Books
Stripes Press
The Emma Press
The Indigo Press
The Poetry Translation Centre
Tilted Axis Press CIC
University College London
Verso t/a New Left Books
Westbourne Publishers Ltd
World Editions		 Grants to
individuals
£
6,000
16,500
22,500
ws:		 Total 2023
£
109,071
16,500
125,571
Total
2023
£
-
10,609
652
3,523
2,000
-
937
10,500
2,703
1,000
-
2,000
3,659
1,871
-
-
1,527
6,500
1,853
1,300
1,500
1,000
4,418
1,131
-
500
19,641
2,612
2,275
1,125
1,250
2,000
1,002
-
267
1,583
2,750
4,650
3,483
-
-
1,250
103,071		 Total 2022
£
77,752
33,293
111,045
Total
2022
£
1,425
9,954
652
3,188
-
1,761
948
7,724
-
2,535
2,306
2,332
4,159
998
250
2,250
-
3,962
2,528
1,300
-
-
4,418
630
19,343
-
-
-
-
1,700
1,500
-
500
1,583
1,800
7,262
1,500
2,484
6,107
97,095

12 Grants payable continued

31

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

13 Tangible fixed assets
Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
Net Book Value
At 31 March 2023
14 Fixed asset investments
Market value as at 1 April
Unrealised gains/ (losses) on investments
Market Value as at 31 March
Historical Cost
City of London Investment Trust
M&G Investment (Charifund)
Halifax (Bankers Investment Trust)
Witan Investment
COIF Fixed Interest (CCLA)		 Market
Value
2023
£
61,603
71,533
16,170
18,788
61,715
229,809		 Fittings,
computers &
software
£
18,260
-
-
18,260
6,364
2,974
-
9,338
8,922
Cost
2023
£
31,397
44,160
9,334
19,343
66,317
170,551		 Total 2023
£
18,260
-
-
18,260
6,364
2,974
9,338
8,922
Total
2023
£
240,638
(10,829)
229,809
170,551
Market Value
2022
£
61,901
76,189
17,387
19,599
65,562
240,638		 Total 2022
£
12,426
5,834
-
18,260
3,534
2,831
-
6,365
11,895
Total
2022
£
236,203
4,435
240,638
170,551
Cost
2022
£
31,397
44,160
9,334
19,343
66,317
170,551

32

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

15 Debtors
Trade debtors
Accrued income
Prepayments
Other debtors
16 Creditors: amounts falling due in less than one year
Trade creditors
Social security and other taxes
Deferred income
Accruals and other creditors		 Total
2023
£
15,000
41,900
6,709
-
63,609
Total
2023
£
51,626
187
10,204
18,459
80,476		 Total
2022
£
-
-
(5,000)
10,954
5,954
Total
2022
£
17,819
7,795
98,561
16,942
141,117

Deferred income relates to grant income received in advance, which is deferred to the accounting period to which it relates.

Movement in deferred income during the year was as follows:

Deferred income brought forward
Released in year
Deferred in year
Deferred income carried forward		 Total
2023
£
98,561
(332,573)
244,216
10,204		 Total
2022
£
38,121
(267,901)
328,341
98,561

33

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

17 Movement in funds
Restricted:
Community Engagement
Arts Council England
Bloomberg
British Council
Essex Book Festival
Prison Writing Competition Campaign
Salusbury World
Writers in Translation
ALCS
Arts Council England
Booker Prize Foundation
British Council
Fondation Jan Michalski
University of Exeter
Campaigns & Writers at Risk
Anonymous donors
Justice for Journalists
Open Society Foundations (OSF) (Writers in
Residence)
OSF (Criminal defamation)
Prisoners of Conscience Appeal Fund
Open Rights Group
The Joseph Rowntree Charitable Trust
TS Eliot Foundation
Prizes
Blavatnik Family Foundation
Hessell-Tiltman Prize fund (dividends)
Ruth Maxted (PEN Pinter)
The Estate of Seamus Heaney
Investments
Hessell-Tiltman Prize fund
Subtotal restricted funds
Unrestricted:
General fund
Designated funds:
Development
Fundraising
Campaigns & Writers at Risk
Extending organisational capaity
Subtotal unrestricted funds
Total funds		 At 31
March
2022
£
9,556
-
-
249
2,270
1,870
13,945
-
155,704
-
34,809
2,638
12,755
205,906
471
-
71,304
1,013
2,480
6,292
2,127
-
83,687
237
(20,845)
-
-
(20,608)
65,562
348,492
412,311
50,000
-
-
-
462,311
810,803		 Income and
transfers
£
16,900
150,000
450
-
-
-
167,350
7,572
116,952
5,000
67,907
-
19,531
216,962
800
16,495
60,604
-
500
-
-
7,500
85,898
10,000
1,690
5,000
5,000
21,690
-
491,900
530,200
10,000
100,000
345,000
985,200
1,477,101		 Expenditure
and
transfers
£
24,712
46,980
450
-
-
-
72,142
7,572
146,437
5,000
40,860
1,977
16,741
218,588
471
16,495
72,355
-
500
-
462
7,500
97,782
9,602
5,656
5,000
1,000
21,258
-
409,770
382,337
50,000
432,337
842,107		 Gain/(loss)
on
investments
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(3,848)		 At 31 March
2023
£
1,744
103,020
-
249
2,270
1,870
109,153
-
126,220
-
61,855
660
15,545
204,280
800
(0)
59,553
1,013
2,480
6,292
1,666
-
71,803
635
(24,811)
(0)
4,000
(20,176)
61,714
(3,848) 426,774
(6,982)
-
(6,982)
(10,830)		 553,193
-
-
10,000
100,000
345,000
1,008,193
1,434,967

34

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

Writers in Translation

Prizes

• The Hessell-Tiltman Prize Fund supported an annual literary prize awarded for a non-fiction book of specifically historical content. Marjorie Hessell-Tiltman was a member of PEN. As well as the capital sum, English PEN benefits from dividends received quarterly

Purposed of designated funds

Development

Funds to support the post of Events and Development Manager following the conclusion of the centennary programme.

Fundraising

Funds to support ad hoc fundraising costs.

Campaigns & Writers at Risk

Funds to support the post of Campaigns and Writers at Risk Manager over a two-year period.

Extending organisational capacity

Funds to support a detailed plan to extend and strengthen organisation capacity over a 3-year period. Including new posts of Head of Development and Membership and Communications Officer, IT and office adjustments, travel and campaigns budgets.

35

English PEN

Report and financial statements for the year ended 31 March 2023

Notes to the financial statements

18 Analysis of net assets between funds
£
Restricted funds
-
Unrestricted - general
8,922
Unrestricted - designated
-
Total funds
8,922
Tangible
fixed assets		 Investments
£
61,714
168,095
-
229,809		 Net current
assets
£
365,058
376,175
455,000
1,196,233		 Total funds
2023
£
426,772
553,192
455,000
1,434,964		 Total funds
2022
£
348,490
462,311
-
810,801

19 Operating lease commitments

At 31 March 2023 the charity had future minium lease payments under non-cancellable operating leases, with payments falling due as follows:

payments falling due as follows:
Land/buildings
Due 2023 2022
Within one year 23,000
 23,000
Between one and five years 46,000
 69,000

20 Related party transactions

There were no related party transactions during the year, other than those disclosed in note 11 to the financial statements.

36

English PEN

Report and financial statements for the year ended 31 March 2023

Comparative statement of financial activities for the year ended 31 March 2022

Income and endowments from:
Donations and legacies
Charitable activities:
Community Engagement
Writers in Translation
Campaigns & Writers at Risk
Prizes
Other charitable income
Other trading activities
Investments
Other
Total income
Expenditure on:
Raising funds
Charitable activities:
Community Engagement
Writers in Translation
Campaigns & Writers at Risk
Prizes
Other charitable expenditure
Total expenditure
Net (losses)/ gains on investments
Net movement in funds
Funds brought forward
Funds carried forward
Net operating income/ (expenditure)
before gains/ (losses) on investments		 Unrestricted
funds
£
168,226
-
400
35,000
-
132,259
1,086
6,857
16,786
360,614
10,583
74,400
92,720
84,796
9,383
22,725
294,607
66,007
10,523
76,530
385,781
462,311		 Restricted
funds
£
-
25,950
156,372
76,411
15,000
-
-
1,889
-
275,622
-
107,456
150,669
108,152
21,294
-
387,571
(111,949)
(6,088)
(118,037)
466,526
348,489		 Total
2021/22
£
168,226
25,950
156,772
111,411
15,000
132,259
1,086
8,746
16,786
636,236
10,583
181,856
243,389
192,948
30,677
22,725
682,178
(45,942)
4,435
(41,507)
852,307
810,800

37