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2022-03-31-accounts

Page
Reference and administrative
details ofthe Charity, its Trustees and advisers
Trustees'
report		 2-10
Trustees'
responsibilities
statement
Independent
auditors'
report on the financial statements		 12 - 14
Consolidated
statement
offinancial activities		 15
Consolidated
balance sheet		 16
Charity balance sheet 17
Consolidated
statement ofcash flows		 18
Notes to the financial statements 19-39

Total
Unrestricted Total funds
funds funds 2021 - as
2022 2022 restated
Note E F
Income from:
Donations
and gifts		 1,000,000 1,000,000 700,168
Trading operations 996,295 996,295 668,315
Investment
income		 2,185,890 2,185,890 745,050
Other income 2,356 2,356 908
Total income 4,184,541 4,184,541 2,114,441
Expenditure
on:
Raising funds 1,353,449 1,353,449 1,323,839
Charitable
activities		 649,083 649,083 619,085
Total expenditure 2,002,532 2,002,532 1,942,924
Net income before taxation 2,182,009 2,182,009 171,517
Taxation (46) (46) (343,458)
Net movement
in funds before other recognised
gains 2,181,963 2,181,963 (171,941)
Other recognised gains:
Gains on revaluation offixed assets 317,688 317,688 3,589,055
Net movement
in funds		 2,499,651 2,499,651 3,417,114
Reconciliation
offunds:
Total funds brought forward 38,182,113 38,182,113 34,764,999
Net movement
in funds		 2,499,651 2,499,651 3,417,114
Total funds carried forward 40,681,764 40,681,764 38,182,113

2021 - as
Note 2022f restated
E
Fixed assets
Intangible assets 14 92,312 112,270
Tangible assets 15 292,557 329,405
Investments 17 32,393,695 29,114,510
Investment
property		 16 5,464,189 5,455,017
38,242,753 35,011,202
Current assets
Debtors 18 514,010 '/43, 623
Cash at bank and in hand 2,682,552 3,813,552
3,196,562 3,957,175
Creditors: amounts falling due within one
year 19 (169,708) (198,421)
Net current assets 3,026,854 3,758,754
Total assets less current liabilities 41,269,607 38,769,956
Provisions
for liabilities		 (58?,843) (587,843)
Net assets excluding pension asset 40,681,764 38,182,113
Total net assets 40,681,764 38,182,113
Charity funds
Restricted funds 23
Unrestricted
funds		 23 40,681,764 38,182,113
Total funds 40,681,764 38,182,113

CHARITY BALANCE SHEET CHARITY BALANCE SHEET
AS AT 31 MARCH 2022
2021 - as
2022 restated
Note E
Fixed assets
Tangible assets 15 41,543 45,319
Investments 17 14,804,731 11,423,582
Investment
property		 16 5,464,189 5,455,017
20,310,463 16,923,918
Current assets
Debtors 18 64,823 3,975
Cash at bank and in hand 537,682 511,001
602,505 514,976
Creditors: amounts falling due within one
year 19 (56,013) (64,949)
Net current assets 546,492 450,027
Total assets less current liabilities 20,856,955 17,373,945
Net assets excluding pension asset 20,856,955 17,373,945
Total net assets 20,856,955 17,373,945
Charity funds
Restricted funds 23
Unrestricted
funds		 23 20,856,955 17,373,945
Total funds 20,856,955 17,373,945

2021 - as
2022 restated
E
Cash flows from operating activities
Net cash used
in operating		 activities (18,277) 2,656,351
Cash flows from investing activities
Dividends,
interests
and rents from investments		 2,185,890 745,050
Proceeds from the disposal oftangible fixed assets 662
Purchase of intangible
assets		 (5,180) (9,835)
Purchase oftangible
fixed assets		 (5,738) (2,720)
Investment
disposals		 7,849,281 3,924,729
Purchase of investments (11,369,198) (4,345,885)
Purchase of Investment
property		 (9,172)
Revaluation
on investments		 240,732 (3,728,006)
Net cash used in investing activities (1,112,723) (3,416,667)
Cash flows from financing activities
Net cash provided
by financing
activities
Change
in cash and cash		 equivalents
in		 the year (1,131,000) (760,316)
Cash and cash equivalents at the beginning ofthe year 3,813,552 4,573,868
Cash and cash equivalents at the end of the year 2,682,552 3,813,552
The notes on pages 19to 39form part ofthese financial statements

Total
Unrestricted Total funds
funds funds 2021 - as
2022 2022 restated
E E
Donations 1,000,000 1,000,000
Gift 700,168
1,000,000 1,000,000 700,168
Income from other trading activities
Income from non charitable trading activities
Restricted Unrestricted Total Total
funds funds funds funds
2022 2022 2022 2021
E f. E
Royalties and income from productions 976,063 976,063 663,327
Other income 20,232 20,232 4,988
996,295 996,295 668,315
Total 2021 700,168 (31,853) 668,315
(c~
T.5.EL(OT FOUNDATION

Unrestricted Total Total
funds funds funds
2022
E		 2022f 2021
Investment income - local investment properties 7,052
Dividends - Overseas equities
&securities		 76,893 76,893 87,121
Dividends - UK equities and unit trusts 141,159 141,159 145,706
Dividend income from participating
interests		 211,906 211,906 161,878
Bank interest 16,018 16,018 12,808
Interest on bonds 71,230 71,230 73,640
Dividends received - listed investments 148,638 148,638 166,393
Profit/(loss) on disposal of investments 1,520,046 1,520,046 90,452
2,185,890 2,185,890 745,050

Unrestricted Total Total
funds funds funds
2022 2022 2021
f.
Other royalty income 2,356 2,356 908

Running costs ofwriters'
retreat
2022 2021
Depreciation
8 impairment		 3,776 3,776
Travel 8 subsistence 7,850 1,280
Staff costs
Other fees
Office expenses 565 27
Currency exchange difference (2,343) 7,342
Sundry expenses 80 854
Repairs 8 maintenance 12,956 9,393
Light 8 heat 6,674 6,480
Property management 38,943 37,077
Subscriptions 183 193
Insurance 8,996 8,730
Computer
& internet		 510 541
'78,190 75,693

Analysis ofgrants
2022 2021
E
Festival ofwriting
and		 ideas - Borris Festival 500
Stinging
Fly		 30,536
Horensfield
library		 50,250
Yeats Society 13,611
St Elizabeths
Catholic		 Primary School - poet in residence 5,000 5,000
Southbank
Centre		 25,400
Cardinal
Pole School		 - poet in residence 3,500
Cardinal
Pole School		 - Christian
Foley		 20/21 academic yr 7,000
Coronet Theatre/Printroom (Poetry) 3,000 2,500
Coronet Theatre/Printroom (Spotlight support) 2,500
Poetry London 2,000
English PEN - core funding 35,000 35,000
English PEN - Stevie Smith Estate 500
English PEN - additional
funding		 15,000
Academy ofAmerican Poets US$12,500 9,860
The Koestler Trust 7,180 10,000
Arvon Foundation 8,500 10,100
The Big Issue 5,000
Goldsmiths
College -		 C Foley 2,203
The Old Vic 10,000
FW Sweny Company 5,000 5,000
PCC ofthe Charltons (St Mary the virgin) 6,944
Suzannah
Evans - Laforgue		 translation project 3,000
The Oxford Literary Festival 10,000
The National
Portrait Gallery		 25,000
Bronte Parsonage 20,000
Bard College Four Quartets audiobook US$20,000 15,692
Simon Armitage
Laureate
Fund		 - Library tour 10,000 10,000
The Wordsworth
Trust		 5,000
Hampstead
Theatre		 28,400 28,400
TS Eliot memorial
reading -		 Harvard 11,037
Cheltenham
Festival		 5,000 7,650
Bangabandhu
Primary		 School 450
StJames Garlickhythe donation 60
Ormiston
Academies		 Trust 5,000
Edinburgh
Festival		 2,500
92Y - Poet in residence 22,575
The Open Door 7,724

Action Inc 7,724
Gloucester Writers Center 1,931
MARS 3,862
Windhover 3,862
Rocky Neck Art Colony 1,931
Gloucester Stage Company 11,587
Leighton
Buzzard		 Foodbank 374
Dalgarno
Trust Foodbank		 2,010
The White Review 2,510
Santas Bikes 510
British Red Cross 2,000
British Ukrainian
Aid		 3,160
Doctors Without Borders 1,931
Refugee Council 2,000
Unicef 2,510
Poetry Society ofAmerica - Four Quartets Prize 32,098 33,895
TS Eliot Prize 40,000 40,000
TS Eliot Prize expenses 47,588 45,254
TS Eliot Prize event 34,260 9,931
TS Eliot Memorial Lecture, Irish Embassy, London 28,245 20,499
464,412 448,832

Running
costs of Grant
writers' funding
of		 Support Total Total
retreat activities costs funds funds
2022 2022 2022 2022 2021
E F E
Resources expended 78,190 464,412 106,481 649,083 619,085
Total 2021 75,345 448,832 94,908 619,085

Support &
governance Total Total
costs funds funds
2022
E		 2022
E		 2021f
Bank charges 796 796 774
Consultancy fees 50,000 50,000 41,500
Support costs 1,955 1,955 6,300
Governance costs 53,730 53,730 46,334
106,481 106,481 94,908

Unrestricted Total Total
funds funds funds
2022
f.		 2022f 2021
E
Audit fee 7,555 7,555 7,560
Accountancy fees 14,538 14,538 10,038
Legal fees 5,218 5,218 5,156
Irrecoverable VAT 26,419 26,419 23,580
53,730 53,730 46,334

Taxation
2022 2021
f.
Corporation tax
Current tax on net income for the year 46 (206)
46 (206)
Foreign tax on income for the year 19,703
Total current tax 46 19,497
Deferred tax
Origination and reversal oftiming differences 323,961
Total deferred tax 323,961
Taxation on net income 46 343,458

Website Trademarks Total
E
Cost
At 1 April 2021 9,400 204,222 213,622
Additions 5,180 5,180
At 31 March 2022 9,400 209,402 218,802
Amortisation
At 1 April 2021 6,423 94,929 101,352
Charge for the year 1,880 23,258 25,138
At 31 March 2022 8,303 118,187 126,490
Net book value
At 31 March 2022 1,097 91,215 92,312
At 31March 2021 2,977 109,293 112,270

Freehold Plant and Fixtures and
property machinery fittings Total
Cost or valuation
At 1 April 2021 512,770 13,721 139,944 666,435
Additions 5,738 5,738
Disposals (5,884) (5,884)
At 31 March 2022 512,770 13,575 139,944 666,289

Group (continued)
Freehold Plant and Fixtures and
property machinery fittings Total
E
Depreciation
At 1 April 2021 272,158 10,750 54,122 337,030
Charge for the year 26,735 3,214 11,975 41,924
On disposals (5,222) (5,222)
At 31 March 2022 298,893 8,742 66,097 373,732
Net book value
At 31 March 2022 213,877 4,833 73,847 292,557
At 31March 2021 240,612 2,971 85,822 329,405
Charity
Fixtures and
fittings
E
Cost or valuation
At 1 April 2021 56,647
At 31 March 2022 56,647
Depreciation
At 1 April 2021 11,328
Charge for the year 3,776
At 31 March 2022 15,104
Net book value
At 31 March 2022 41,543
At 31March 2021 45,319

Freehold
investment
property
E
Valuation
At 1 April 2021 5,455,017
Additions 9,172
At 31 March 2022 5,464,189
Charity
Freehold
investment
property
E
Valuation
At 1 April 2021 5,455,01?
Additions 9,172
At 31 March 2022 5,464,189

Investments
in Listed Unlisted Other
associates investments investments investments Total
Group E
Cost or valuation
At 1 April 2021 4,477,228 22,306,635 131,373 2,199,274 29,114,510
Additions 7,954,408 199,998 3,214,792 11,369,198
Disposals (7,849,281) (7,849,281)
Revaluations (240,732) (240,732)
At 31 March 2022 4,477,228 22,171,030 331,371 5,414,066 32,393,695
Net book value
At 31 March 2022 4,477,228 22,171,030 331,371 5,414,066 32,393,695
At 31March 2021 4,477,228 22,306,635 131,373 2,199,274 29,114,510
Investments
in Listed Trade
associates investments investments Total
Charity
Cost or valuation
At 1 April 2021 700,168 8,523,940 2,199,274 11,423,382
Additions 200 2,822,625 3,214,792 6,037,617
Disposals (2,714,457) (2,714,457)
Revaluations 58,189 58,189
At 31 March 2022 700,368 8,690,297 5,414,066 14,804,731
Net book value
At 31 March 2022 700,368 8,690,297 5,414,066 14,804,731
At 31March 2021 700,168 8,523,940 2,199,274 11,423,382

Group Group Charity Charity
2022 2021 2022 2021
E
Corporation
tax		 46 2
Other taxation and social security 30,972 53,051
Accruals and deferred income 138,690 145,368 56,013 64,949
169,708 198,421 56,013 64,949
20. Financial instruments
Group Group Charity Charity
2022 2021 2022 2021
f.
Financial assets
Financial assets measured at fair value
through
income and expenditure		 3,013,923 3,944,925 537,682 511,001
21. Deferred taxation
Group and Charity
2022
Recognised
on acquisition		 ofsubsidiaries 587,843
Charge for the year
587,843
The deferred tax liability is made up as follows:
Group Group
2022f 2021
E
Accelerated
capital allowances		 (18,961) (18,961)
Tax losses carried forward 73,830 73,830
Revaluation
of investments		 (642,712) (642,712)
(587,843) (587,843)

Balance at
Balance at 1 Gains/ 31 March
April 2021
f.		 Income
f		 Expenditure Taxation (Losses)
f.		 2022
f
Unrestricted
funds
General Funds-
all funds 37,481,945 4,884,709 (2,002,532) (46) 317,688 40,681,764
Unallocated
amounts 700,168 (700,168)
38,182,113 4,184,541 (2,002,532) (46) 317,688 40,681,764

Unrestricted Total
funds funds
2022f 2022
Tangible fixed assets 292,557 292,557
Intangible fixed assets 92,312 92,312
Fixed asset investments 26,979,629 26,979,629
Trade investments 5,414,066 5,414,066
Investment properly 5,464,189 5,464,189
Current assets 3,196,562 3,196,562
Creditors due within one year (169,708) (169,708)
Provisions for liabilities and charges (587,843) (587,843)
Total 40,681,764 40,681,764

Group Group
2022f 2021
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) 2„181,963 (171,941)
Adjustments for:
Depreciation charges 41,924 40,816
Amortisation charges 25,138 24,562
Gain/(loss)
on investments		 317,688 3,589,055
Dividends,
interests		 and rents from investments (2,185,890) (745,050)
Decrease/(increase) in debtors (375,387) 395,282
Increase/(decrease) in creditors (23,713) 212,758
Net cash provided by/(used in) operating activities (18,277) 3,345,482
26. Analysis of cash and cash equivalents
Group Group
2022 2021
Cash at bank 2,682,552 3,813,552
Total cash and cash equivalents 2,682,552 3,813,552
27. Analysis ofchanges in net debt
At 1 April At 31 March
2021 Cash flows 2022
E
Cash at bank and in hand 3,813,552 (1,131,000) 2,682,552
3,813,552 (1,131,000) 2,682,552

2022 2021
Donation received from Old Possum's Practical Trust 1,000,000
1,000,000