Charlty registration number 1181253 (England and Walès) Company reglstratlon nUMr 03691656 WOMEN'S PRIZE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
WOMEN'S PRIZE TRUST LEGALAND ADMINISTRATIVE INFORMATION Trusto•s S Davis S Curtis A Robinson D Wosskow A Ollard S Mahal A Barrow JIFry Z Weller L Ctsrdwell J Mushens L Bailey A Derkacz IAppointed 18 July 20231 (Appointed 25 June 20241 IAppM)inled 29 October 20241 (Appointed 28 January 202SI Secretary Awrfght Charlty nLtmbèr (England and Wales) 1181253 Company number 03691656 Prlnclpal address 6 New Stre&t London EC4A 3BF R?gistergd 0ffi¢g 8 New Street London EC4A 38F Indapèndènt 8xamln•r F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Driva Bisley SUeY GU24 9SF
WOMEN'S PRIZE TRUST CONTENTS Pa Twslèes, report 1ndèndènt examinerfs r8ptsrt 14 Statèmfrnt of financial activitia$ 15 Balance sheet 16 ststement of cash flows 17 Notes to the finandal stalernenls 18-27
WOMEN'S PRIZE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustgè$ pr$sgrht their annual report and financAal statements for the y&ar ended 30 June 2024. The financial statements have be&n pr8parèd In aCeOFdan¢o with the accounting policies set out in note 1 to the rinanaal statements and comply with thè Charity's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charitles.. Statement of Re¢omwended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicabFe in the UK and Republic of Ireland IFRS 1021. leffeetlvo 1 January 20191. Objects of the charlty The Women's Prize Trust's objects are.. 'Restricted specSfically lo th8 advan¢emenl of the art of literature for the public benefit and Sn partlcular to foster and promote literature of merit wrrtten by women in all its foms, inclurjing by the encour8g8m8nt of diversity and greater gender equality 8mongs1 writers and by the award of an annual prrLe for a full-langth novg1 writtgn by a woman of any nationality and publishÈd in English. Mls¥ion Thè Wom8n'$ Prizè Trust ennches society by Cating 6qUitable opportunities for wom8n fhe world of books and b&yond. As a registered charity. wo open up pathways into reading and writing for the booklovèrs and storytallèrs of tomorrow. Wè support women writers at all stages of developmant, providing ctsaehing and r8souTces to unlock potential, boost confidence and increase skills. Wè wtsrk with all re8d8rs, priorilising acces5 to and engagement with btsoks by women for those who need them most, in ord8r lo increas8 empathy, expand imaginations, share knowledge and empower connection. As a result, we are dgveloping a global community of writers and readers, r8ducing social isolation and enhancing mental health and wellbeing. Our valuès ar8.. EXllenCe We create opportunities for exceptional writing to ¥hine by providing the accessible plarfomi women writers deserve. Comrnunity Wè nurtura 8 positive community of r&aders, wrlters. and advo¢8les who celebrate and support each other. Wè unlte peopl8 through cornmon experiences and shared $torles. Representat'on We champion the divèrsity and unique voices of women from all backgrounds, empowering them lo share their stories. insights. and 6xpertisg. Legaey W8 are o)mmitted lo creatlng lastlng changè and understanding withln the arts and socioty 85 a whole for current and fLrture generations.
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Purposes and aim$ This report thks al what the Women's Prize Trust has achievad and the outcorne5 of its work In the reporting period of 1 st July 2023 - 30th June 2024. The TDJStees report succèss of each key activity and the benefits the Trust has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the Trust's aims, objectives and activities remain focused on its stated purposes. The Trustees have referred Its the guldance contained in the Charity Commission's general guidance on public benefit when reviewing the chartty's èlms and objectives and in planning its future activities. In parti¢LJlar, th8 Trustees consider how planned 8etivittès VAII contribute to the aim3 and objgctives that have been set. The Trustees have complied with the duty in section 4 of the 2006 Charities Act lo havè due regard lo guidance published by the Charity Commission. In particular, the Trustees refer to the Charity Commission's general guidance on public b8nefit both when revlewing how well past activities have satisfied the Trust's staled objectives, and when planning how fubjre activities may best continue to do so. The main means through which the Trusts oblectives are mel is the organi58tion and promotion each year of a series of activities designed for public benefit. Women'$ Iz• lor Fietlon Thè Women's Prize for Fiction is th8 largest c818br8tion of women s creativity.. an aw8rds platfom) that champions brilliant women writers and role models whil8 nurtunng a global community of read&rs. In its 29-y8ar history. the Women's Prize for Fiction has bgwme one of the most prestigious, popular and influenlal literary prizes in the worfd. championing women's voices from all backgrounds and reaching a global community of readers. The Priza was established in 1996 to highlight and r8medy the imbalance in coverage, respecl and reverence given lo wtsmen writers versus their male peers, creating 8 plaffom for exceptional writs'ng by wornen to shine. The Women's Prize for Fiction is 8ward8d annu811y to the author of the best full~length novel of the y&ar written in English and published in the UK. The winner recelvès £30.000. anonymously endowed, and thè 'Bèssie'. a bronze statuette created by the artist Grizel Niven. The Prize follows an impartial and robustjudging proc855. dècid6d every y8ar by an independent judging panel, who base their dellberations tor the longlist, shortlist and winngr lx) thr6è core tenets which havè rèmainèd th8 same since the Prize was found8d'. exeellèncè, originality and accessibility. The Prize celebratès thè stor¥ès of women writers from all backgrounds and signffj8s not only quality writing, but also greater visibility foT wom8n Wlthin the worfd of books. Over nearly three d8cad85, It has changed the perception of women's fiction, 5howGgsing 546 outstsndlng, ambit1ous novels that hold a mirror up to the Issues at ihe core of our global society through the female gaz8. This growing recognition of women's writing has promoted confidence and ambition among women writers, as well as bringing peopSe tooether through a 5h8r8d love ol books and enriching what people read by putting brilliant writing by women into the hands of readers.
WOMEN'S PRIZE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Launch of the Womèn's Prlz• for N -Fiction The Womèn's Priz8 for Non-Fi¢tion wa5 bom out of our own extensive research whlch demonstrated a clear inequality in both consumer visibility and author remuneration,. wa found that female non-fiction writers are less likely lo be reviewed in the UK national mèdia and less likely lo be shortlisled, or awarded, book prizès than their male counterparts. Only onè in threg books awarded a non-fiction literary prize over the past len years was written by a woman, only one in three of the lop 500 bestselling non-fiction titles In 2022 wor8 written or edilgd by women, and the 9onder pay gap continues to increase, standing at 36Y¢ in 2022. Leveraging the power of tha Woman's Prize brand and established global audience. we launched this major new prize as a sisler prize to the Women's Prizg for Fiction, lo celebrate exceptional non-fiction written by wom8n tn English worldwide. The criterla inc4ud8s 811 narrativ8 non-fiction from science. smart thinking, histtsry, biogr8phy and politics, to memoir, sport. rnusic, nature wr41ing, faith and philosophy- judged on tha sam8 t8n8ts (rf the Fiction prize,. exc611ènce. originality and accessibility, with an additional focus on quality of research. The Chadotte Aitken Tru supports the Women's Prize for Ntsn-Fiction by fvnding th8 £30,000 prize money and sculpture awarded tts thg winner, known as the 'Charlotte', to compliment the Fiction prize, the 'Bessie'. assouabon with the Royal Society of Sculpiors, in 2023 the Charlotte Aitkèn Trust ran a competition lo commission the ast to deslgn and create the 'Charlotte', in order to support and 5POtllght another female artisl. A shortlist of three sculptors wa5 announced on 10 November 2023- Jane Aekrtsyd, Ann Christopher and Lara Ritosa-Roberts- which provided an opportunity lo help drive industry awarènèss about the new prize. On 17 January 2024, Ann Christopher RA FRSS was announced the winner. receivlng a £10,000 prE8 from the Charlotte Aitken Twst and th8 opportunty to design and create the'Charfott6'. 2024 Women's Prlz& for Non-Fi The literary prizes were launched together for the 2024 eyela in order to amplrfy one another, with the announcement of the 2024 judging panels. The inaugural judging panel for the Women's Pryze for Non-Fiction was chaired by historian and broadcaster Professor Suzannah Lipseomb, a respeded academic, and fierce and vocal champion for tha ne8d for this new prize. She was Joined by fair fashion carnpaigner Venetia La Manna,. academlc, author and con5ultont Professor Nicola Rollock-, biograph81 and joumalisl Anne Sebba.. and author and 2018 winner of the Women's Prize for Fiction. Kamila Shamsle. The inaugural longlist establishgd the standard for the calibre of botsks that the Women's Prize for Non-Fiction would celebratè and acknowledge, and the breadth of toplcs women are writing about in narrative non-fiction today Chair of Judges Suzannah Lipscomb cotntnanted that the list "represenls the breadth of wom6n's non-fiction writing". The announcement tsf the longlist 8150 provided an opportunity to campalgn for an improved investment in f8m8le writers writing in underrepresented rlS as refiected in the submissions for thé prize, such as economics, technology, science, geopolitics. mathemati(% and sports. "Go into marty bookstor&s, and the nonfictn shBlvès will b8 dominal&d by m&n. The Wom&ns Prtzb for Nonfiction hopos to change that.". Associated Press The inaugural prize was won by Canadian bestsellin9 writer, global activist and film-maker. Naomi Klgin. for Doppelganger.. A Trip inlo the Mitror Worfd (Allen Lane. Penguin Random HoLJsel', h8r urgent, illuminating examination of our polarised society. A p9r50nal and political book, it was a timely, topical and popular winner, from globally recognised natna. 85tablishing the benchmark for èxc8118nce. Speaking on behalf of Ihe judging panél, Suzannah Lipscomb said.. "This bfr7llianl and layered analysis d8rnonslr8l&s humour, insight and expefse. Klèin's wriling is both deeply pOal8d ImpsVe1Y expansiv&. Doppelg8nger is a courageous. humane and optimisti call-to-arms that mtsves us b8yond black and white, beyond Right and L&ft, invib'ng us inslead to embrac& the Spaces in between."
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Klein was an excellent spokesperson for lh8 Prize. delivering an impassloned. genuine and warm speech al the award ceremony, with positive sentiment lor the importanca of the eslablishmgnt of the Prize in SL¢bseqvent media inlervi8ws'. .1 think the arts are r8ally starved and are kind of und8r siege right now, so il's r8ally nice lo be part of something where they'r6 building something rt&w,' she told London's Evening Standard. "Its mor8 diffiGuIt for women to be taken seriously as experts, as oppos$d to as storytellers, so its very cool that IheyV8 decided to do a non-fiction prize for womgrj". Shè 6mphasized the Wornen's Prize Trusys ongoing efftsrts to support female non- fi¢tion writers, positioning this as vital to 8chieving equity in publishlng, where female voic8$ In non-fiction are often marginalis8d. Doppelg8ng6r was published In paperb8¢k in time for the winn8r'8 8nnoLJncement. and saw 8n 88% Increase in sales the week of the announcement on the previous week, increasing from 1,068 copies sold to 2,009. Over half of th8 2024 paptrrback sales volume was recorded in the prize period - 12,344 0123,761 total copies sold. We were encouragod to see the sales impact of th8 prize was so signific8nt in its very first year, and s8t our benchmark for measuring futu success of the market impad of th6 pryze. 24 Womèn's Prtze for Flctlon Alongside the estsblishrnent of thè new Women's Prize lor Ntsn-Fiction, we ran the 29th Women's Prize for Fiction, a$ usual. The 2024 judging pangl was chaired by Monica Ali, b8stselling writer and Fellow of the Royal Society of Ltsrature. who was longlisted for the Women's Prize for Fiction for her novel Brick Lane in 2004. Monica was joined on the judging panel by author Ayobami Adébayo., author and illu8tr8tor Laura Dockrill-, actor Indira Vam)a.' and presenter and authorAnna Whilehous8. The longlist e8lebrated debut voices, counting for half of the books regnIsed. alongside three authors pr8vlously celebrated by the Priz8. including a previous winner. Thé list was greeted wlh huge 8nthusiasm and ¢elebrat8d lor the international authors it recognised of the 16 longlisted authors, five were British. three American. three Irish, one Canadian, one South Koraan, one Australian, one Ghanaian and one FrenchlArn8rican: °Novels Ihal give volcè to the oflen unheard stories of migrants around the wortd gr8 among the nominees lor Ihg 2024 Women s Prize for Fiction., wroie The Independent. The 2024 Prize was awarded to V. V. Ganeshananthan for 8rolherfess Night Iviking, Penguin Random House), 8 deeply moving novel which depicts a family fractured by the Sri Lankan civil war. It took Ganeshananthan almost two decades to complete h8r sophomore novel,. she was longSisted for the Women's Priz8 in 2009 for her debut nov61 Love Marriage. Broth8rtess Night vividly and cornpassion8teSy centres erased and marginalised stories Tamil women, students, teachers, ordJn8ry eAvilians- exploring the moral nuances of violence and t8rrorism against backdrop of oppression and exile. Speaking on bahaw of the judging panel, Monica All commented= Erolherfess Night is a brilliant, comp8111ng deeply moving novel that bears witness to Ihe inttmato and epic-scale Iragedi8s of t17& Sri Lankan Givil wèr. In hch, evocative prose. Gart&shènanthan creates a vivid sens& of time and place and •n indèllble cast of charaGlers. H8r commitment to complèxity ènd clear*yed mor81 8Grutiny combines with spellbtinding storytelling to fftnd8r Brotherless Night 8 m8sterpNec& of historical fiGlion." Following the win. Viking printed 40,000 paperbacks of 8rother18ss Nlght wlth the inner. roundel. By 29 June, the book had lifetlme sales of 7.252 wpies papeack and 943 in hardback. The paperback was published the day after thè shortlist announcement, and was selSing around 300 copies pgr weèk throughout the shortlisl promotion period. This junp8d 220Q/¢ to 939 the week ol the winners, announcement, then continutsd to gTOW'. 1,792 wl¢ 22 June and 1,923 wlc 29 JLJnè. This is a bigger percents9e increase than last year's winn¢r. Demon Coppenèead by Barbara Kingsolver, which had much higher lifetime sales153,342 paperbacks by the start of July), but saw a 109Y¢ volume in¢r8859 thg week after the announcernenl. W& have noted that there has be8n a general decrease in book buying with the cost of living crisis. but tt is positive lo se8 the prize continues to make a 8i9nifieant sales impacL
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Thè r•cognttton by the prizg also contributes lo the success of a book in other significant way8,. before the prEe announcement, Viking had closed intemational rights deals in Ukraine. Sinhala and Telu9u. Follomng thè announcement, they were also cltssing in Italy. Gertnany. Portugal, Croatia and in Arabic with more lo follow. eaders As well as the writers il platforms, the Women's Prize Trust aims to have a positive irnpaet on rèaders through promotion, access to and awareness of all the titles recognised- and h8nc8 r8commgnd8d- by the Women's Prize for Fiction and now the Women's Pr12e for Non-Fiction. With the addition of the new prize, we lumed our attention to nurturing and growing our ntsn-fiction audience, as well as converts'ng our existing community to encourage them to buy, borrow and read non-flctlon as well as fiction. We hosted our annual Shortlist Book Club liv9 online acr058 four nights in May, with a combination of three different fiction and non-fiction authors each evening, chaired by our Founder Director Kale Mosse. Each event provided an opportunity for our audience to access the shortlisted authors and hear from them directly about their 8horUist8d books. with ovèr 650 rgaders luming in from across the wodd. These events were important in terms of our events reaching and being accessible to tsur global audience. With 8n on4emand option to w8t¢h al another time, and provided an additional income opportunity for th¢ Charity. We dèlivered four hlgh quality, engaging events that provided a platfom) lor rertection, connection and celebration for both our shortlisted authors and our online community. However, with minim81 inerèa5é in attendee5 from the same evants in 2023- despite the addition of 6 more authors- wè arè Ii)oking at ways to streamline this activity fof 2025, in ordor for il to be the most impactful use of th8 team's timè. In June we welcomed over 900 guèsts into Bedford Square Gardens, London. for Womèn's Prizè LIVE, a day of events for storytellers and booklovers. We wanted to platform and showcase the very best female tal&nt, includin9 our own two prize shotdists. and provide access lo skill development, nthorking and inspiration ft)r our two core audiences of readers and writers 8like. Following the success of the 2023 expandad programme, we wanted lo curate a similar event for 2024. with rnultiple strands across three tents. Wè work8d collaboratively with publishers and partners to host eleven author events, four workshops and 1-2-15 Wlth 5 publishing industry experts. In line with our Cora value of representation and mission to champlon the divgrslty and unique voices of women from all backgrounds. 47% of speakers were either from a global majority background or had a disability, or both. With the addition of the non-fiction prEe, we wanted lo ensure our programme calebratgd fiction and non-fiction., 74% of surveyed attendeés enjoyed the mixing of Fiction and Non-Fiction throughout the ¢Jay and during the Shortlist Readings pan81. This was reflected in book sales; 7 of the 10 bgstselling lilles sold on site by Walerstones Gower Street wèrè non-fidion. Programme highlights indudèd: Live Bookshelfie recording with former Prime Minister of Australia. Julia Gillard Demystifying Publishing event with the first of our Discoveries alumni to bè publish8d, Olivia Ford 1-2-1s wilh publishing èxparts including editors, agents and marketing and publicity specialists Multiple non-fiction focuséd events including a panel on 'Writing for Activism, and Mishal Husain interviewed by Sathnam Sanghera about her book. Broken Threèds C&lebrating Bridg81 Jone5 25th anniversary. Helen Fielding in conversation A longer, bumper readings event with the authors shortli51ed for the Women's Prize for Fiction and thè Women's Prize for Non-Fictlon. on tho eve of the announcement of the winnèrs While the festival is a ticketed event and an important fundraiser for the Trust's Charitable work. we are committed to ensuring our events are accessible to a wide audiencè, so concessions and free tickets were available on application for those from low inwme backgrounds Dr underr6prèsènt8d cornmunitie3.
WOMEN'S PRIZE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The event provided an tspportunity for in-person connection for readers and writers alike 90Qh of attendees surveyed agreed that the &vent fell inclusive and welcomlng. and 860/4 said they would attend Womèn's Prizg LIVE again. The following is a selection of feedback from att8ndees= -Everyonè was $0 lovely, fvendly and welcoming. It fell like there were no b&thgrs. We (as attende&sJ were equal with ev8ryone alse Ihere and that Is so rar8 jll 8V8nts." .1 lovè lh8 v81JU8, that its held in Junè and just the relaxed atmosphere of ltike mind8d fellow awd book readers. Th$ aulhor$ are super friendly and approa¢hable. IYS honestly my annuèl trè8tlff C8n'l thankyou enough.. Yhe 8mazing atmosphere. warm w8lcome and supportive oftvironmènf. This event is one of the highllghts of th8 yearforme. Listèning lo women raise their voic6s is &mp()wering." "General f661 of th8 d8y.' bookish, wam7 (in communty spirit. not aclual temperatur8lJ. welcoming, indusive. Divers& programme, including established and new voices. plu$ givNng a platfom7 to writers from an array of social and Gultural background$.° sheer Joy and celebration and excitement around f&male stories and vtsice$ unapologetic for centering vomen s expèri61Jcfys- the readings and Q&A wer8 thought provoking. ins@hlful 8nd engaging- the whole team running Ihe event were brilliant- an amazing job - well donel" Su ortin T?adin rou Repllcating the success of the fiction reading groups in 2023, for 2024 we expanded this opportunity tts engage 8 r88ding groups, six for fiction and six for non-fiction. Thès8 groups, following an open applieatlon process. cama fro auoss the UK and a v8ri8ty of different backgrounds and age5. ranging from ntrighbours lo friends, IlbTafi8n groups, bookshop-based book clubs and online connéctions. Each group was Invited to Tead, discuss and rèvièw one of the shortlisled books, before coming togathar across each prize to share their èxp$ri&nces. We offered frèè books in the fomiat of their chos¢8, reading guides for èach ti110, and encouraged them to share their thoughts and reviews online. Along with The Reading Agency. we brought the groups together for Zoorn gatherings at th8 beginning and end of the process. The introduction session ensured they felt supported 8nd invested in the programme, and for thè team at the Trust to hear more about each group in turn. We then hosted an event with each of the Chairs of Judges across both prries. wherè reading groups could feed back their thoughts on their allocated shortlist8d titles. These were both entertaining, Ihoughttul and valueil events. A5 the books weie allocated randomly to each group. they provided an introduction to a botsk they might not otherwise hava r9ad. expanding their reading horizons. Here is a s6ledon of feedback from thè groups.. We really $nJoyed being a part of this years prize and knowing that our thoughts on th6 b£k will b8 8Gcessible to Ihe Judgss is really exciting.l The virtU81 meetings We fèntbstic, and it was greal lo 18am about the other book groups and feeling part of a widèrr88ding community.. °Being able to participate the programme made me f&91 n70rn empowered and r8assured me that my volc8 m8tt&rs - being able to do it with such an ama2Nng group of people as bookelub made it so much more sp6cN81. 1 rèally loved how I was introduc&d lo a book I wouldn't have usually read ènd it opened discussions with people outside my book clbb. So y8s, Support1 Bnd indu8iv&. It's really encouraging lo have something different shared 8nd thats inviled a lot of discussion with olhers. We enjoyed Ihe opportunity to focus on a nort-fic1n book, somethlng mkny of us would not usually road. It was really interesting èxp8ri8nce for us and lod to some fascinating dAscussions (although not alwèys related lo the ljook)."
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 This axp&iyence had a really POSA"livè impact on our reading group. Whilè w8 meet monthly to discuss o book chosen by one of our members, was èxcibng to take on a new ch8118ng8 and r8view a book Ihal som8 m8mbèrs had alrgady lift up, but for olhermembers was way out of their comfort zon8. Sevèral of ourgroup s8Nd that in ths first 50 pag8s they were unsuTr if the book was for them, but as w& were revigwiftg it for the Womens Prize Ih8y stuck with it 8nd reèlly loved it. This is allY1Mportant as can often fall into a hole of readAng Ého same genS or authors and this has t>p&n a whole new sty19 10 them." Llbra & Retsiler en 8m8nt In ord8r to rekch readers from all communities, we worked with libraries, national book retailers and independent booiksellers to promota the longlists and shortlisls for ga¢h prize. We sent out 150 packs of free promotional materials lo indep8nd8nt bookshops and libraries around thè UK and Ireland as w81185 5000 bookmarks for Waterstones lop 80 stor85. The Trust proudly supports indepènd8nt booksellers through alignment with Bookshop.org, the on5in8 botskshop financially supporting local, indèpandent bookshops, and promoting Indapendent Bookshop Week ev8ry yèar. Libraries were engaged through The Reading Agency, who created promotional pack5 for each stage ol each prize announcement, with 124 packs ordered for non-fiction. and 102 lor fiction. Librarians noted an increase in borrowing of non-fiction around the promotion, demonstrating 8 clear appetite. In order lo improve this engagement in 2025, due to funding Cuts libraries are facing nationwide, we will be working to provide rnore printed materials for libraries lo prom¢te the Ilsts to their users. We used the promotion packs for both th8 ltsnglist and shortlisl. We printed postsrs tts make a display and ordered in books from the longlisl. We created & double slded display right al the front of our IlbTrry. to promote both the ffclion and non-fictlon lists. We ttveeted about il on our 8OCI81 m8dNa. It was very effe1 and 8lmost all of the books We 108ned very quickly.. Risca Library Other retailers including Walgrstonas. Foyles. WH Smilh, Blackwell's, Amazon and Audible were provided with digital POS and arxess lo logos and branding guidelines along with the prize lists in older to create their own assets lo promote them in store and online. In order to fu1 the Trusfs misslon of driving change within society by improving access to and appreciation ot women's writing, we actively work to ensure the prize lists are promoted In a range of spaces. Understanding that there is limited scope for readers who wlll be able to read all 32 books celebrat8d in one cycle across both prize5. 11 is more important than 8v8r to m8xlmisa on the breadth and scx)pe of lilles r8¢0gnisod and celebrated by the prize$ through the promotion of the lists. Brandln and Webslte With the launch of a whole new Prize. wo daveloped a new brand visual, to consolidate our idontity as the Women's Prize Trust with the prizes and our ch8ritsble progfammes sitting under our brand umbrella as work 8nd projects we deliver. Alongside that, we launched a new website with specialists in UX and behaviour change, lo lie wtth our new brand evolutitsn. It was first launched in October 2023 with our judges announcement, tollowed by a second rel8a$é In Fèbruary 2024. The new website has distinct 'hubs' _ Fl¢fji)n and Non-Fiction Prize pages. the Library, Readers and Writers. Users are spending the most time in these areas. By th8 end of tha 2024 prize cyde, the website h8d 218k usèrs and 774k page views. 10.000 users have visited thè books page for the 2024 Women's Prize for Fiction wlnner, Brotherless Night putting it al no.10 IDemon Copp6rt)ead was at no.13 last yearl. 46°/o of traffic came from the UK, 20 % from the US and 4Yo frorn Australia, reflecting our global audience. New funclionalty on the w8bsit8 includes an Integrated shop. ticketing and donations, to holp make fundralsing easier and a more user-friendly 8xperi8ncè ftsr our audience. There has been an increas8 in donabons added spontaneously to the cart, and payments are now easior for Patrons to make online. Wè now have a lully searchable Women's Prize library, with every book recommended through all activities le.g. podca511, all with affiliate links tD Bookshop.org. This has proved successful at curating book lists and recommendations, and adding a 3mall amount of additional revenue lor the Trust.
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Discov This was th8 fourth y6ar of Discoveries, our talent devètopmant programme for aspiring female novèllsts in the UK and Ireland, run in partnership with Curtis Brown literary agency, Curtis Brown Creative writing school and Audible. Both a prize for unpublished writers and an ambitious development programme, we ofler mentoring, resources and Industry access to women of all backgrounds, with a particular focus on reaching underrepresènted communities. The programme is designed to support, educate and connect each of the thousands of entrants through events, resources and outreach through partn8r organlsations. Each year, 16 writers gro $èlècted by a judging panel lo receive additional development opportunities including personalised mentorship packages, plaTrs on writing courses and audiobook recording studio sessions. The overall winner re¢eiv85 an offer ol representation from literary agent and a cash prize of £5.000, while a selected scholar - a writer showng particular promise but fell to need more support- wll receive moTg in-depth developm&nt opptsrtunities with a three-month writing course. Outreach activty for Discoveries ran through the 8ubmission$ wndow. from September 2023 to January 2024. to gncourage èntries to the programme, particularly from women who are underrepresented in the publishing industry including women from bw-income backgrounds, from global majority communities, disabled women and those who live outsid6 of London. This is intended lo help dismande barriers tr) èntry and ultimately diversrfy tha talènt pipeline within publishlng. We partnered with various literary and arts-focus8d organSsatlons. and had support from outlets and organlsations Including Disability Arts Online. Avlhors with Dis8bilities and Chronic Illnesses, Writing West Midlands, Literature Wales and Bad Form Review, amongst others. We also distributed POS packs widely lo libraries, independent bookghops and writing organlsations throughout th8 UK. Whh the publication of our first Discoverios alumni, Ollvla Ford's Mrs Quinn's Rise to Fame, In March 2023. we Severaged this as an opportunity for media to showcas8 the succèss of the Discoveries programme, and provide an èxampl& of how it had helped Olivia. With forthcoming book d981s lor more alumni of the programme, we see this as an important strand of promotion. opportunity for inspiration and outr8a¢h goSng forward. 'The Diswveries Priz& transformed my life enti[Y by supporting me in achieving my quiet ambition, so Ihat I could en&ble Quinn to pursue hers.. Olivia Ford in GoodHDusèkèsping We hosted Discov8ri8s pan818vénts at Blmingham Literature Festival and Braemar Fgstiv81, as wèll as our own online fr89 events in partn8rship wth Curtis Brown Creative at both submissions stage and following submi99ions dosing, to support and encourage entrants who don't raach the next stage of the programme in other ways th&y can progress with 'What's Next,. We continued to build and add to our onlinè Wrlters, Toolkil, providing resOue5. top ps as well as inspiration pieces Irom authors and those with industy expertenee and insight. Discoveries received just under 3000 entries for 2024. in Ilne with 2024- wth some key statistics below. 77% of entrants camè frtsm outside of Greater London- slightly lower than 2023 380/0 of èntrants wér8 ovar the age 45+_ 9°/D less than 2023 84Yo of entrants identili8d their ethnic groLJP as whit6- 1YD less than 2023 20°k ol entrants would consider themselves to have a disability- more than 2023 42/0 of entrants would identity as working olass or from a worknng class background From these we can see that we were sucSsful in broadening the pool (Jf applicants from dlsabled and working- da85 wom8n. thanks to a particular focus on outreach in those areas. bul that wg need to continue to consider non- literary partnerships for 2024 and Dnwards. and other ways we can en8ure a hgallhy spread of entrants from a range of ages, regitsns 8nd ethnic groups.
WOMEN'S PRIZE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The 2024 Dlscoverlès wrttsrs The 2024 Discoveries judging p8n61 wa3 chaired by author and Foundar Director of the Wornen's Prize for Fiction Kale Mosse, with award-winning authors Natasha Brown and Rowan Hlsayts Buchanan., Jess Molloy, Curbs Brown literary agent.. and Anna Davis, Founder and Managlng Direetor of Curtis Brown Creative writing school. The judges select 16 longlistÈd writers, six shortlisted writers, a wlnner and a Discoveries Scholar. In Juné. thg longlisled writers took part in a two-week bespoke WrEtsng Development Course, dellv&red by Curtis Brown Creative and tutored by ac¢l8irned author and formèr Women's Prize shortlisted author. Charlotte Mèndèl$on. The course is desi9ned to bring the group together as a cohort, providing them with a paar support network, as well as practical writing advice and development, 8ncouraging them to dedicata set time to their Craft. The six shortlisted author$ also received a one-to-onè m8ntoring session with a Curtis Brown agent and a free place on the six-week online writing course of their choice with Curtis Brown Creative, as well as the opportunity lo attend an Audible studio sossion on writing and recordin9 for audio. Nlamh C()nnolly was selecled as tha winner for her work-in-progress novel. Game Theory, a story of tsn-again, off- again lovè set in County Cork, Ireland. Niarnh accepted the offer c>f raprésgntslion from Curtis Brown agant Rosie Pierce. "I really appreciated thsl Discoveries champion6d all th8 writers Ihal made the longlist, 8s well 8$ Gelebraling thos& who made th8 shortlisl or won. In lodays eomp91itffve wnting worfd, il feels sueh aGhievement to even mak6 th8 longlist in cDmp&litNons like Ihis, but that ffsny 81w8ys recognised. I'm r6ally grateful that Discoveries sees us ès a Gohort and ès p&rt of a wider community and ¢el&brates all our èchièv8m8llts. baUse il feels like we aro now p8rt of a llY Supportive writing ctsmmunity, cheering each olhor on."J9ss Worsdale, longlisted writer Thg iting Gouttse has hugely valuable. as has making Connect$ with all thè bn-lli8nt wom&n involved, from Charlotte Mendolson to thg Curtis Brown team to all th8 longli8l&es. We re alreèdy planning various gatherings to write together and it feels so wonderful to havè 8 community of wniing friends. l am delwhted to have sned th Curtis Brown. somèthing that would nevarhav8 happen&d wilhoul DiscoverAesl"Alice Fletcher, shordisted wrftèr "I thought the programme was run really well, 8nd that you & tlje DIscovèri8$ taam were very good for k66pirJg in touch with us throughout. I had a lovely lime at Ihe party too,. it was a fantsstNG nNghl. and so exciting to be Ihgre. The course was the most valuable pèrt of the programme. I was only dis8ppoinled that it didny last long8rl Charlotte is a bnlliant tutor, and has glven mè 8 101 lo think about as I'm continuing to write my novel. IVS just great to have dedicèt8d lime to focus on wrilffng for Iwo weeks. and to gel f8gdback and ideas from th& group." Lauren Mulvihill. longlisled writer his is the best boostof nrence that any writèr could hope for." Niamh Connolly, 2024 Discoveries wlnn8r Dlscovèries communi A5 outlined in thè tèstimonials above, on8 of the most valuable elemants of the Discoveries programme is th& peer- to-peer SLJPPOrt and community it providès for the aspiring writèrs. Through the writing course and on-going events for the alLJrnni, we are ensuring that this continues to dèvelop, p8rtioularfy as the Community grows in size and in success, wlh two more writers with books slated for release 2025, including our Inaugural winner, Emma van Straaten. Our 2023 prize wlnnèr Paige Cowan-Hall had her debut audiobook. The Shouts Beneath, rekased by Audible in May. Over 70% of the first three of years of longlisted Discoveries authors have since accepted offèrs (rf repres8ntslion by UK litarary 8genls- 23 out of 32- which is a staggering success rate. In 2025, Ihe fifth year of Diseov8ries, our princApal objectives will be.. To consolidate existing, reconnect with past and estsblish new strateglc partnerships, with organlsatlons. champions and ambassadors wthin and outside the literary world that enable us lo connect meaningfully with our target audiences. To reach our tsrgel audIenS through media with a particular focus on podcasts and newsletters, writing groups, and outreach via Ioc81 councils. To continue to promote and platforrn Discoveries alumni, highlighting th&ir su¢¢esses and using the impa¢l narrative to drive submi58ions for 2025.
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Horiz Dlscoveries is now an established programmè. rècognised for supporting novelists- bul with the Introductlon of the Women's Prize for Non-Ficts'on, we want to ensure we are supporting the talent pipeline for women writing non- fiction too. Horizons was launched in autijmn 2023 as an open-source toolkit for aspiring women non-fi¢tion writers, made up of resources and features and online events and POS. These included gu85t features from agents and writers. including OUT partners at Curtis Brown Creatlve. writsng prompts from Wrsters & Artists, and content from the Wom8n's Prize for Non-Fiction sponsor, Findmypast. We curatsd two online events in autumn 2023 for an audience interested in writSng non-fiction. one fo¢ussed on the ¢raft of writing non-fiction and one on historical research. We ensured the events wèrè accessiblo by using a tiered pricing slruclure, with free access available lo those that needed il. The intention is for Horizons to find and support the next generation of asplrfng female non-fiction writers. particularly from underrepres8nted bad(grounds, and support them to bring th81r books lo market. Our goal is to look al ways of developing Horizons into a rnore fomial mentorship programm9, in a similar fomial lo Discoveries. FJNANCIAL REVIEW Ovèrall for the financial year ended 30 Junè 2023, the charity had a deficit 01 £68.0S2. Thè financial year began carrying a reserve cf £83,457 and thè position al the end of the year is £15,405. The charity has continuad to attract sponsorship and income associated with Its charitsble activities helping the charity to diversfy rèv8nue str8ams and become more resillent and sustainable for the future. The Women's Pr6 Trust continues to maintain a close control on its costs and èxpèndituro. The Women's Prtze for Fiction 2024 was supported by corporatg sponsors Ba1yS and Audible, who also sponsor the 8ooksh8ifie podcast and the Discoveries PTogr8mme. The Wornen's Prize for Non-Fiction 2024 was sponsored by Findmypast and supported by the Charfotte Aitken Trust. Each prlze reeeived financial support from publishers whose books We longlist8d, shortlisled and won. The Trust's activity was also supported by numerous in-kind partnerships, including Rationale. Blake Morgan and Mida$. The avénts strategy lo raise income was hlghly successful, with collaborations includlng Stanl8y Tucci, Fane and the Barbican. and Letters Llve and the Royal Albert Hall not un fundralsing but extending the profile of the Women's Prize Trust to new audien¢e3. Individual Givin After hlring a new Development Director, we had a r¢n$wed focus on individual giving and developmont of our patrons programme. The Summer Party was an irnp8Ctrul cullivalion event, offering the opportunity lo meet beneficiaries and see the Women's Prfze mission corne lo life, alongside smaller, more regular events. At the end of 2023124, an appllcation was submitted lo lake part Sn the Big Glve Christmas Campaign 2024. Trusts & Foundatlons £5,000 received from the Garrick Charitable Trust. 1 application to a small-modlurr ¢harilable trust was submitted and was succ858ful. Other major trusts hav8 b88n identified, researched and applications drafted for grants of £50k+ for unrestrlct8d or restricted. and tha prparatory work for the proposals unde3Y. Totsl of all income for the 2023124 year was £846,467 and expendlturè £914,519. 10
WOMEN'S PRIZE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 R&seNes pollcy It is the policy of the charity that unrestri¢tèd funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expendlture. The trustees consider that reserves at this lgvel will ensure that. in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is glven to ways In which addrfcional funds may be raised. This levèl ol reserves has been maintained throughout the year. Rlsk Manag•ment The trustees examine on a quarterly basis the major strategic, business and operational rlsks whi¢h the charity facgs and confirm that systems have been establishgd to enable regular reports to be produced so that the nec8ssary steps eAn be taken lo minimise thése risks. Structure. governanc• and managèmont The organisation is a charitable company limited by gu8r8ntee, incorporated on 5th January 1999 and registered as eharity on 18th December 2018. Th8 company was established under a memorandum of association on 24th July 2018 which establlshed the objècts and powÈrs of the chaFitable company and is govèrned under Its articles of association. AJI Irustoès give their time volunlarfly and r1v@ no benefits from the charity. Any axpenses roclalmed from the charity are set out in the flnancial accounts. The trustees, who are also the directors for thè purpose of company law. and who served during the year and up lo the date of signature of the financial statements were- S Davis R Rafiq S Curbs AAnand A Robinson D Wosskow A Ollard S Mahal A Barrow LJury F Blunt JIFry Z Welr L Cordwell J Mushens L Bailey A Dgrkacz IRe8igned 26 February 20241 {Resigned 10 February 20241 (Resigned 29 Octobèr 20241 IRèsSgned 25 June 20241 IAppoinled 18 July 20231 {Appointed 25 June 20241 (Appointed 29 Oclob8r 20241 (Appointèd 28 January 20251 Appolntmènt of trust99$ Undgr the terms of the company'8 Articles of AssocSation. thère shall bg no fewer than elght and no more than fifteen trustees at 8ny one time. Trusl8gS' term of office Is four years. plus an optlonal additional four years. Trustees dected as Chair can bg appointed ftsr a third consècutive temi. Appolnting new trustees is organised via a recruitment proc8ss run by the nominations eommitteg. During the tem of tris report, three truslees resigned. and one was appointsd, to directly replace thè area of experience and expertise that was lost by one of the daparting trust9ès, as a If(erary agent.
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 statement of ro$pon8ibilities ot tho trustees The tmst898 (who are also dire¢tors of the Women's Prize Trust for the purposos of company lawl are responsible for preparing the trust8e$' annual report and the financial statements in 8¢cordan with applieab19 law and United Kingdom Accounting Standards Iunitgd Kingdom Generally Ac¢epled Accounting Practicé}. Company law requires the truslèes lo prepare financial stslemenls for each finanaal year which give a truè and fair vlaw of the state of affairs of the charitabl¢ Company and of the incoming resources and appllcalion of resources, including the income and expenditure. of the charitable c4)mpany for that period. The trustees are responsible for keeping 8d8quate accounting racord5 that disclose with reasonablg accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with tho Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hgnc8 for taking reasonabl8 Steps for the pr8vention and detection of fraud and other irregularib"es. Oryanlsatlon Trustees are rèsponsible for the ov6rall administratSon of th8 charity and for making strategic decislons. The implementation of strategic plans Is carried out by the executive team, which includès.. Executive Direetor who receives an annual salary Developmant Director who receives an annual salary Project Manager who receives an annual salary Foundgr Director who receives an annual fee plus reimbursement of exptrnses The Da10pment Director was 8mployed this yèar to lead on diversifying In¢ome. The charity also hss a roster of contractors and service providers to assist in the delivery and promotion of programmes and aetivities. Payment of fees to other consultants, agencies and supplier$ are negotiated indlvidLJally based on the seTvices provided, taking ac¢ounl of expertise and experience. and reviewed on an annual b8s4S. Governancg Following implem6ntation in 2022-2023. the organisation &mb8rked on a govemance programme with 8 policy review timetable and a series of new sub-committees tr) manage the growing compl*ty of our work. We now operate th9 following.. Equality and Diversity SucoMMittee Ichaired by Sand¢ep Mahal} Finance and P8rsonnel Sub-comrnittee (chaired byAnna Ollardl Nomination5 Sub-committee lehaired by Aliceson Robinsonl Developm8nl Sub-commlttee l¢haired by Debbia Wosskow} Th8 sub-committeè structure allows trust8gS to engage with ¢ur work and operations al a deeper lèvel and helps the organisation to take forward signhlcanl areas of work on a more formal basss. During the year the groups all met quarterty. Trustee Snduction and tralnlng New trustees ale provided with a Trustee Handbook oulllning their legal obligations under charity and company law. and arg made aware of th8 content of thè Articles of Assoclalon, the decision-making process and thè financial performance and plans of the charity. 12-
WOMEN'S PRIZE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The Iruslees, report was approved by the Board of Trustees. Ilard.IMar.26, 2025 18..35 GMT+II A Ollard Trustee 2610312025 Date.. 13-
WOMEN'S PRIZE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOMEN'S PRIZE TRUST I report to the trustees on my examination of the financial slaiements of Women's Priz& Trust (the charity) for the year ended 30 June 2024. Responsibllities and basls of report As the trustggs of the charity18nd also its dir9clors for the purposes of company lawl, you are r6sponsibb for the preparation of kne financial 5t8tements in accordance with the r8quiremenls of th8 CompaniesAct 200fj. Having satlsfied myself that the financial statements of thè charity are not rèquired lo be auditèd under Part 16 of the Cornp8nies Act 2006 and are eligiblè for independant examination, I raport in respect of my examination of th8 charfty's financial statements cairied out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner's statèmgnt Slnce the charity's grtrs5 income exeèèded £250.000, thè independent èxarniner must be a member of a body listed in sèction 145 of th8 Ch8rilies Act 2011. 1 confirm that l arn qualified to undertake the examination because l arn a member of the Assoelation of Chartered Certified Accountsnts, which is ona of the listed bodlas. I have completed my examinatlon. I confirrn that no matters have corne lo my att6ntion in connectSon wth the èxamination giving me cause to bèll8ve that in any material respect.. accounting records were not kept in respect of tha eharity as requlrèd by section 386 of the Companlas Act 2006. the fin8ncial statements do not accord with those records,. or the financlal statements do not comply wlth the accounting requirements of section 396 of th& Companies Act 2006 other than any roquirement that the financial statements give a true and fair viaw, which is not a matter considered as part of an independant 8xamination". or the finana81 slalements have not beèn prepared in accordance with th8 methods and principles of the Stalement of Recommended Practice for accounting and reporiing by charities applicable to charitiès preparing their financial statements in aGwrdance with the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021. I havè no concems and have comè 8¢ross no other matters in connèction with the examination to whlch attention should be drawn In this report in order lo enable a proper undersianding of the finana81 statements tr) be reached. •JDJ FJ Wilde FCCA MBA DChA Wam8r Wilde 4 Marfgold Drive Bisley Surrey GU24 9SF Date.. 2710312025 14
WOMEN'S PRIZE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestrfcted nds 2024 Unrastrlctèd funds 2023 Restricted funds 2023 Total 2023 Notes Incomè and endowments from.. Donations and legacies Charitable activities Other tradlng activities Investments Other income 171,403 670,766 3.333 21.003 448,016 180,500 201,503 448,016 168 2,325 168 2,325 965 Total Incom• 846,467 471,512 180,500 652,012 Expondltura on: Raisillg funds Charitablè 8¢tiVsde5 12,039 902,480 10,244 480,330 10,244 660.830 180.500 Total expondltur 914,519 490,574 180,500 671.074 N•t èxponditure and mov•m•nt In funds 168,0521 119,062} 119,062) Recon¢iliatlon of funds- Fund balances 8t 1 July 2023 83.457 102,519 102,519 Fund balances at 30 Jun• 2024 15,405 83.457 83,457 Thè statement of financlal aetivllles includes all gains and losses r8cognised in the yaar. All Incorng and expenditu derfve from continuing activllies. Is-
WOMEN'S PRIZE TRUST BALANCE SHEET ASAT30 JUNE 2024 2024 2023 Not9$ Fixgd assets Tangible a8sets 1S 1,617 799 Current assets Stocks Debtors Cash at bank and In hand 6,531 98.024 157.440 17 36,527 151,161 261,995 Credltors: arnounts fallln9 due withln one year 187.688 1248.2071 1105.0301 Net ¢urr•nt assets 13.788 82.es8 Total a5$9ts l•ss curront Ilabifitles 15,405 83.457 Th• fund8 01 the ¢harlty Unr8stricted fund 21 15.405 83,457 15,405 83.457 Thè company Is ènlilled lo tha exemption from thè audit r6qulr8ment contained In se¢tion 477 01 the CompaniesAct 20C6. for the yaar ended 30 June 2024. The dlrectors acknowledga their responsiblllues for comptylng wlth the requlrem$nts of tha Cornpanles Ad 2006 wltr respect to accounting records and the pr8paration of finandal staternents. The rngmbers have not roquired tho wmpany to obtaln an audlt of Its financial ststements for the year In quesuon In accordanca with section 478. These financlal statements have been prepared In ac¢ordan¢e JNllh thè provlslons applicable to companlas subleci to the small eornpanlès re9lme. 2610312025 Th8 fln8ndal staternents 8 approvad by the trustees on............... ......... Anna A Ollard Tru8tg0 Ilard Lmar ?s. 2025 18..35 GMT+il Company reglslration number 03691656 (England and Wales1 16-
WOMEN'S PRIZE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notos Cash flows from opgrating actlvitig$ Cash gènerated from operations 24 7.362 87,423 Investlng aetivlties Purchase of tangible fixed assèts Investment income receivod 11.0831 168 Nèt ca¥h (used in}19gnerat•d from Investlng activities 11,083) 168 Net cash ganerated from finan¢lng aetlvtties Net Iner•a$e In cash and cash •qulvalents 6.279 87,591 Cash and cash equivalents at beginning ol year 151,161 63.570 Cash and cash equival8nts at end of y•ar 157,440 151,161 17-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollclfrs Charlty information Women's Prize Trust is a private company limitèd by guar8nta8 incorporated in Eng18nd and Wales. The rogistorod officè is 6 Now Stréèt, London, EC4A 3BF. 1.1 Accountlng conventlon Thg financial slaternents have been prepared in accordance wilh the charily's goveming document. the Cornpanies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. l°FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charit4ès.. Statement of Recommended Practice applicable to charities prèparing th8ir accounts in acGordanc8 With the Finan¢i81 Reporting Standard applirabl6 in th8 UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The d)arity is a Publi¢ Bengfil Entity as defined by FRS 102. Thè financi81 stat8ments are prepared in sterfing, which is the functional currency of the charty. Monetary amounts in thes¢ financial stslements are rounded to the nearest £. The financial stal8menls have been prepared under the hlstorScal cost convention. The prinapal accounting poliaes adopted are sel oul below. 1.2 Golng concern Al the time of approvlng the ftnandal statements, thg trnAstees have a rtrasonablts expectslion that the charity has adequate resources to contlnue in opgralional exi$ten¢e for the foreseeable future. Thus the trustees contlnue to adopt th8 going concern basi8 of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustaas In furth8¥8nc& of thèlr ch8rk8blé objectives. Restricted funds are subject to specific conditions by donors or grantors as to how thèy may b8 usad. Tha purposes and uses of the restricted fijnds are s&t out in th& notès to thè flnanclal statemants. Endowment funds are subject to specrfic conditions by donors that thè eapitsl must bè m8lntslnèd by the charity. 1.4 Incom• Incomè is rècognised when the charity is legally entitled to it after any perf0rrnan conditions have bean mèt, the amounts can be measured reliably, and it is probable that income will be received. C8sh donations 8r8 recognised on receipt. other donations afe Tecognised once the charity has been notffi8d of the donation, unless performance conditions require deferral of the amount. Income tax r&coverable in relation lo donations received under GiftAid or deeds of covenant is rècognised at the time of the dtsnalion. Leg8ei8s ar8 r8cognised on receipt or otheIse if the charity has been notified of an imp&ndÉng distribution. th8 atnount is known, and receipt is expected. If the amount is not known. th* 1098Cy 4$ tr&8tod as a contingent as581. 18-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies IContlnu•dl 1.5 Expendlture Expenditure is recogni5ed once there Is a legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transf8r of gconomie benefits wlll be required in settlement, and the arnount of the obligation can be measured reliably. Expanditure Is classified by activlty. The costs of each activity are made up of the lolal of direct costs and shared costs. including SUPPOrt costs involved In undertaking each activity. Direct costs attributable to a slngle activity ar8 811ocatèd directly to that activty. Shared costs which coniribute to more Ih8n one activ¥ty and support costs which 8re not ttbut3b[8 to a single activity are apportioned between those 8ctivit18s on a basis onsistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation tharges are allocated on thp portion of th& assot's use. 1.6 Tangib18 fixed asset5 Tangible fixed assets are initially measured at cost and subsequ8ntly rn88surèd at cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of ass8ts lèss thèir r8sldual values over their useful lives on the following bases.. Computers 5 yrs on oist The gain or Ioss 8rising on th8 disposal of an ass8t is det8minad as tha dlffer6nce been the sale proceeds and the Carryin9 value of the asset, and is recognised Èn thè statement of financial activities. 1.7 Impairment of fixed a55ets At èa¢h raporting ènd datè. thé charity rèviaws the carrwng amounts ol its tangible assets to determine whether there is any indioation that thos& as59ts h8ve suffered an impaimènt loss. If any such indication exists, the recoverabb amount of the asset is estimated in order tr) detemiine the extent of the impairment loss lif any). 1.8 sto¢k5 Stocks are staled at the lower of eost and estlmated selllng prfce less costs to complete and sell. Cost comprises direct maleTrals and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net reallsable value Ss the estlmated selllng prfce less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equiv8lents include cash in hand, deposits held 8t ¢811 with banks, oth&r short-tetm liquid inveslrnenis with original maturities ol three months or less, and bank overdrafts. Bank overdrafis are shown within borrowings in current liabilities. 19-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollel•s {Cgntlnuedl 1.10 Flnancial Instruments The charity has elecled to apply th8 provisions ol Se¢lion 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitls balance sheet when the charity bo¢om$$ p8ty to the contractu81 provisions of the inslrurnenl. Financial assets and liabilities are offset, with the net amounts presenlgd in the financial stslements, when there is a legally enforceable right to set off the iecognised amounts and there is 8n intention lo settle on a net basis or lo realise the asset and settle the liability simultangously. Baslc flnanelal ssets Ba8ic financial assets, which include debtors and cash and bank balances, are initially measured at tran8aclion price including transactlon costs and arg subsequently carried at amortised cost uslng the effectlv8 Intsrest m&thod unless the arrangement constitut8s a financing Iransaclion, where the transaction Is measured al the present value ol the futLJre receipt5 discounted al a market rate ol interest. Financial assets lassified as receivable within on& y6ar arè not 8rllortised. Baslc flnanelalllabllltlg$ Basic financial liabilities, includlng crèditors and bank loans are initially recognIs at transaction price unless the arrangement constitutes a fin8noing Iransaclion, where the debt instrument is measured at the present value ol the futur& payments discounted at a market rate of inter8st. Financial liabilities classified as payable within one year arg not amortised. Debt instrum&ntS 8r9 subsequenuy carried at amortised cost. using the effective interest rale method. Trade creditors are obligations to pay for goods or s8rvicg5 that have been acquired in the ordinary coursa (rf op¢rations from suppliers. Amounts payable ara classified as current liabilities il payment is due within on y8ar or less. If not, they are present&d as non-¢urrent liabilities. Trade creditors are recognised initially at transaction price and subseqJènUy measured al amortised cost using the effectivtr inttsrèst m8th0d. Dèrncognition of financial liabilitles Financial liabilitl8S 8re derecognised when the charity's contrèctual obligation3 expire or are discharged or cancelled. 1.11 Employ•• bèn•fit$ The cost of any unusad holiday entitment is recognised in the perlod in whith the employee's services are received. Termination benefits are recognised immediately as sn 8xpense when the charity is demonstrably committed tr) termin8t8 the employment of an employe8 or to Provide temiination benefits. 1.12 Retlremènt banèfits Paymenis to defined contribution r8tirernent benefit schernes are charged a5 an gXP9nse as they fall due. -20-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Crlti¢al accountlng •stim4tes and ludg•m•nts In the application of the charity's a¢(x)unling policiès, th8 trustee5 are reqLJlr&d to rnake judgements. estimates and assumption5 about the earying amount of a55ets and liabilities th81 are not readily apparent from other sources. The estimates and associated assumptions are based on historical expertenea and other factors that arè considered to bè relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are ievi8wed on an ongoing basis. Revlslons to accounting estimates are T8¢ognised in th8 period in whlch tho estimate is revised where the revision affects only that period, or in th8 period ol the ievision and future p9riods where the ravision affects tKJth eurrenl and future periods. Incomo from donatlons and legacles Unrèstrleted Restrlet•d funds funds 2024 2024 Total Unrèstricied Restricted fund5 funds 2023 2023 Total 2024 2023 Donations and grfts Grants 166,403 5.000 166.403 5,000 6,003 15.000 180,500 186,503 15,000 171,403 171.403 21.003 180,500 201,503 Income frorn charltsblè aetlvities Unr•5tri¢ted fund5 2024 Unr•stricted funds 2023 Charltable Aetlvitl88 Commercial activitlgs Publisher contributions Sponsorship 146.550 122,750 401,466 55,952 23,133 368,931 670,766 448.016 Incom8 from other tradlng a¢tivitles Unr•stricted Unr•strleted funds nds 2024 2023 Other InMe 3,333 21
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Income from Invostm•nts Unrestricted Unrestrlcted funds funds 2024 2023 Inter8St r•céiv8ble 168 Other Ineam• Unr•strICt Unr•strieted funds funds 2024 2023 Other income 2,325 Expenditure on ralslng funds Unrestrlcted Unrestrfcted funds funds 2024 2023 Fundralslng and publlclty Other fundraising costs 3,593 93 Tradlng eosts Sponsorship costs Other trading activities 10,615 12.169} 10,151 8,446 10,151 Total costs 12.039 10,244 -22-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Exp•nditure.on charltablè activities Charitable Activities 2024 Charltable Aetivities 2023 Dir•et costs Staff costs Depreciation and impairmant Executive Team and expenses Awards ceremony Judges Costs Winners prize Podcast Professional fees Digital and soclal media Events Content Capture and creatlon Sponsor appreuation, consultants and freelance support Design and POS Digital events L81ilude costs Travel and Subsistonce Sundry 157,644 265 153,705 215,461 93,438 530 8,848 20,974 58,885 10.911 53,801 37,231 54,491 17501 44,379 228 199,894 34.797 25,589 30,530 12,681 21,906 35,469 123.173 36,570 48.462 14.398 1,000 564 293 1881 865,639 629,640 Share of support and governance costs15ee note 101 Support Gov&man¢e 34.251 2,590 28,690 2.500 902,480 660,830 Analysls by fvnd Unrestrictèd funds Restricted funds 902,480 480.330 180,500 902.480 660,830 23-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 10 Support costs allocated to activities 2024 2023 Administrative costs Postage Bank charges Subscriptions Insurance Governance cosis 4.975 18.896 1,362 8,907 3,488 16,497 1,077 5,817 1.811 2,500 2,590 36,841 31.190 Analysed between: Charitable Activiiies 36,841 31.190 2024 2023 Governaneo costs comprlse.. Independent examiner fe85 2,590 2.500 2,590 2,500 The indapèndgnl examiner fee for 2024 18 £2,$9012023.' £2.5001- 11 Nèt movement in funds 2024 2023 The net rnovement in fvnds is Slated after chargingllcredrtsngl.. Fe&s payable for the independgllt examination of the Charity's financial statem8nts Depreaatlon tsf owned tangible flxèd assets 2,590 265 2,$00 228 12 Trust•ès None of the trustees lor any persons connected with them) received any rtrrnuneration or beneflts frgrn the charity during the year. 13 Employ88s The average monthly number of employees during tha year was= 2024 Numbèr 2023 Number -24-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Employee (Continued) Employment costs 2024 2023 Wages and salaries Social security Sts Other pension costs 147.677 7,775 2,192 43.391 71 917 157,644 44.379 Last year the CEO was pald as 8 contractor. From October 2023 the CEO was added to payroll. The number of employees whose annual r8mungration was more than £60,000 is as follows.. 2024 Number 2023 Number £70,00110 £80.000 Remuneratlon of kèy managèment personnel The retnuneralion of key rnanagement personnel was as follows.. 2024 2023 Aggregate compènsation 74.731 The averag6 numbèr of employees was 15120241. Thls Is madè up of 3 paid ernployees and 12 directors (who are not paid employees). 14 Taxatlon The charity is èxampt from tsxalion on its activities because 811 its income is applied for charitable purposes. 25-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 15 Tangible fixed assets Computors Cost At 1 July 2023 Additions 1.141 1.083 At 30 June 2024 2,224 Deprèelatitsn and Impalrmènt At 1 July 2023 Depre¢ialion charged In the year 342 265 At 30 June 2024 607 Carrying amount At 30 June 2024 1,617 At 30 June 2023 799 16 Stocks 2024 2023 FSnlshed goods and goods for resal8 6.531 17 Dèbtors 2024 2023 Amounts falling due wlthln one year: Trade debtors Other debtors Pr8payments and accrued ineome 71.813 24,933 1,278 22.258 14,205 98,024 36,527 18 Cradltors.. amounts talling due wlthln one yoar 2024 2023 Other taxation and soclal s9¢urity Trade creditors other creditors Ac¢ruals and deférred incomè 5,537 232,158 1,330 9,182 2.773 93,624 300 8,333 248.207 105,030 -26-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 19 Rgtirement benefit sch•mo$ 2024 2023 Dèfinèd Contribution schem&s Charge to profit or loss in respect of defined contribution schemes 2,192 917 The charity operates a dèfinèd contribution pension schem8 for all qualifying employ885. The assets of the scherne are held s6parat8ty from those of the chadty In an independently administer6d fund. 20 Restrletèd fund$ The 18stricted funds of the charity comprise the unexpended balance8 of donabons and grants h81d on trust subject t9 Spgofic conditions by donors as to how they may be used. Pr•vlous year: At 1 July 2022 Incomlng resources Resoure•s p•nd•d At 30 June 2023 W()men's Prize for Fiction 180,500 1180,5001 21 Unre$trÈcted funds The unrestricted fi2nd$ of the charity comprisè th8 unexpended balances of donations and grants whlch arg not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted fvnds by thg trustees for specific purposes. At 1 Juty 2023 Incomlng resoureas Resources expended At 30 Jun• 2024 General funds 83,457 846.467 1914,5191 15,405 Previous year: At 1 July 2022 Incoming resourc¢$ Resources expended At 30 June 2023 Genèral funds 102,519 471,512 1490,5741 83,457 22 Flnan¢ial commitment$i guarantees and contlnggnt liabilities The charfty expècts lo undergo a r6vl8w of the VAT and direct tax trÈ8tmenl of its income and associated expenditure which could result in a Ilability. It has not been posslble tts quantify the impact if any of th8 planned review. 23 Relatèd party tr?n8actSons Ther8 wgre no disclosable related party transactions during the year12023- none). -27-
WOMEN'S PRIZE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Cash generated from operations 2024 2023 Deficit for the year 168,0521 119,0621 Adlu$thi¢nts for: Investment ineom8 recognis8d in statement of financial activities Depreciation and impaiment of tangibl6 fixèd as58ts 11681 228 265 Mov•mènts in working capital- Ilncreasel in stocks Ilncreaselldecrease in debtors Increase in creditors 16,5311 {61,4971 143,177 38,023 68,402 Cash generated from operatlons 7,362 87,423 25 Analysis of changes in net funds The charity had no material debt during the year. 28-