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||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|
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||||||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|
##
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|||||||||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|||||
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||||||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||
##