**REGISTERED COMPANY NUMBER: 03691656 (England and Wales) REGISTERED CHARITY NUMBER: 1181253**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **FOR**
## **WOMEN'S PRIZE TRUST**
UHY Calvert Smith LLP Statutory Auditor Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
**WOMEN'S PRIZE TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 21|
|**Report of the Independent Auditors**|22 to 25|
|**Statement of Financial Activities**|26|
|**Balance Sheet**|27|
|**Cash Flow Statement**|28|
|**Notes to the Cash Flow Statement**|29|
|**Notes to the Financial Statements**|30 to 39|
|**Detailed Statement of Financial Activities**|40 to 41|
## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 July 2024 to 31 August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Women's Prize Trust is a charitable company limited by guarantee, incorporated on 24 July 2018 and governed by its Memorandum and Articles of Association.
The trustees of the charity are also the directors of the company for the purposes of Company Law and are appointed in accordance with the charity's Memorandum and Articles of Association.
Women's Prize Trust trustees are recruited with regard to the skills, experience and diversity required to support the effective governance of the charity.
Under the terms of the company's Articles of Association, there shall be no fewer than eight and no more than fifteen trustees at any one time. Trustees' term of office is four years, plus an optional additional four years. Trustees elected as Chair can be appointed for a third consecutive term.
Appointing new trustees is organised via a recruitment process run by the nominations committee. During the term of this report, three trustees resigned, and two were appointed, to replace the area of experience and expertise within publishing and areas of development.
## **Trustee induction and training**
New trustees are onboarded with a trustee briefing pack and verbal inductions, outlining their legal obligations under Charity and Company Law, and are made aware of the content of the Articles of Association, the decision-making process and the financial performance and plans of the charity.
In accordance with the charity's Memorandum and Articles of Association, trustees are researched by the Nomination Sub-Committee, and then appointed by the full board. Trustees are typically appointed following an informal recruitment process, which may include recommendations from existing trustees and the charity's professional networks. The board keeps its composition under review to ensure an appropriate mix of skills and experience.
No external body or individual has the right to appoint trustees.
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of the Women's Prize Trust for the purposes of Company Law) are responsible for preparing the trustees' annual return and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
The organisation now operates a governance programme with a policy review timetable and a series of new subcommittees to manage the efficiency and complexity of the activities:
- Equality, Diversity and Inclusion Sub-Committee (chaired by ex-officio Sandeep Mahal)
- Finance and Personnel Sub-Committee (chaired by Zainab Weller)
- Nominations Sub-Committee (chaired by Aliceson Robinson)
- Development Sub-Committee (chaired by Anna Ollard)
The sub-committee structure allows trustees to engage with the charity's work at a deeper level and helps the organisation to take forward significant areas of activity on a more formal basis. During the period, the groups all met quarterly.
## **Organisation and Executive Team**
The Board of Trustees provides strategic direction and governance, while responsibility for operational delivery is delegated to staff and contracted specialists. A clear separation is maintained between governance and management functions, with trustees focusing on oversight, performance and long-term planning, and staff responsible for implementation. Regular communication between trustees and the Executive Director ensures alignment between strategy and delivery, with reporting structures in place to support accountability, transparency and informed decision-making.
The implementation of strategic plans is carried out by a small executive team of four who receive an annual salary, two of whom work part-time. The charity also pays the Founder Director of the Women's Prize for Fiction an annual fee plus reimbursement of expenses.
The charity also has a roster of contractors and service providers to assist in the delivery and promotion of programmes and activities. Payment of fees to other consultants, agencies and suppliers are negotiated individually based on the services provided, taking account of expertise and experience, and reviewed on an annual basis.
The appointment and management of contractors is overseen by the charity's Executive Director, with appropriate oversight from the Board of Trustees. The charity seeks to ensure that all external appointments are made on a fair and transparent basis, with due consideration given to value for money, alignment with the charity's objectives, and, where relevant, its social and environmental values. Appropriate agreements are put in place for all contracted work, and any potential conflicts of interest are managed in line with the charity's policies and procedures.
The trustees are responsible for the identification and management of risks faced by the charity. A quarterly assessment of key risks is undertaken by the full board, with appropriate systems and controls established to mitigate these risks where possible. This includes consideration of operational, financial, reputational and compliance risks. The charity maintains appropriate policies to support effective risk management, including a Code of Conduct, Safeguarding Policy and Gift Acceptance Policy, and procedures including financial controls, insurance coverage, event risk assessments, and governance processes. Risk is considered as part of regular board discussions, and as necessary, actions are taken to strengthen controls or adapt delivery. This approach enables the charity to respond proactively to challenges while continuing to deliver its objectives.
The charity works closely with a range of partner organisations to deliver its programmes and extend its reach and impact. These include commercial sponsors, pro-bono partners, publishers, media outlets, and other cultural organisations whose aims and values align. These relationships are managed through formal agreements where appropriate and are overseen by the Executive Director, or delegated to other members of the Executive Team as appropriate, with input from the Board of Trustees if required. The charity maintains independence in its decisionmaking, ensuring that all partnerships align with its charitable objectives and values. The charity is not part of a wider group structure and does not have any subsidiary undertakings. However, the charity has signed up to the Publishers' Association's Inclusion Pledge and is registered with the Fundraising Regulator.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03691656 (England and Wales)
## **Registered Charity number**
1181253
## **Registered office**
6 New Street Square Holborn London EC4A 3DJ
## **Trustees**
Mrs L E Bailey (appointed 29/10/2024) Ms S K F Curtis Mrs S A Davis Ms A C M Derkacz (appointed 28/1/2025) Ms J I Fry Ms J E Mushens Ms A M L Ollard Ms A L Robinson Ms Z G Weller A Barrow (resigned 22/10/2025) L Cordwell (resigned 6/5/2025) L Jury (resigned 29/10/2024) S K Mahal (resigned 22/10/2025) D Wosskow (resigned 24/6/2025)
**Company Secretary** Ms A K Wright
## **Auditors**
UHY Calvert Smith LLP Statutory Auditor Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **Objects of the Charity**
The Women's Prize objects are:
'Restricted specifically to the advancement of the art of literature for the public benefit and in particular to foster and promote literature of merit written by women in all its forms, including by the encouragement of diversity and greater gender equality amongst writers and by the annual award of an annual prize for a full-length novel written by a woman of any nationality and published in English.'
## **Mission**
The Women's Prize Trust mission is to build a better future by championing women's writing.
The Trust believes that every woman's voice has the power to elicit and inspire change - regardless of age, race, nationality or background - and through its work tackling the gender disparity within the world of books, is putting women's words into the hands of more readers. The Trust is behind the Women's Prize for Fiction, the largest celebration of women's creativity in the world, and the Women's Prize for Non-Fiction, recognising brilliant writing written by female thought-leaders, changemakers and experts. The charity also empowers new voices, helping to unlock potential, boost confidence, and increase skills and knowledge through writer development programmes and prizes such as 'Discoveries'. It also inspires a global, inclusive community of readers, sharing stories and information to reduce isolation, create empathy and enhance mental wellbeing.
The Trustees present their annual report and financial statements for the period ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
This report looks at what the Women's Prize Trust has achieved and the outcomes of its work in the reporting period of 1st July 2024 - 31st August 2025. This is an extended financial period with the revision of our financial reporting window, in order to best align with our annual activities. The Trustees report the success 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 complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission. In particular, the Trustees refer to the Charity Commission's general guidance on public benefit both when reviewing how well past activities have satisfied the Trust's stated objectives, and when planning how future activities may best continue to do so.
The main means through which the Trust's objectives are met is the organisation and promotion each year of a series of activities designed for public benefit.
The Women's Prize Trust's mission is to build a better future by championing women's writing, opening up pathways into reading and writing for the booklovers and storytellers of tomorrow.
The Women's Prize Trust exists to address the continued underrepresentation and unequal recognition of women's voices in literature, particularly in relation to visibility and pathways into writing careers. Despite progress, women writers remain less likely to be reviewed, awarded, or widely promoted, particularly in non-fiction, limiting both individual opportunity and the diversity of perspectives available to readers.
In response to this need, the Trust delivers a year-round programme of activity designed to celebrate, support and amplify writing by women, while increasing public access to literature. Its work is structured across five interconnected strands: Prizes, Talent Development, Reader Engagement, Outreach, and Campaigns and Advocacy.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **Values**
Our values are:
## **Excellence**
We create opportunities for exceptional writing to shine by providing the accessible platform women writers deserve. **Community**
We nurture a positive community of readers, writers, and advocates who celebrate and support each other. We unite people through common experiences and shared stories.
## **Representation**
We champion the diversity and unique voices of women from all backgrounds, empowering them to share their stories, insights, and expertise.
## **Legacy**
We are committed to creating lasting change and understanding within the arts and society as a whole for current and future generations.
## **Objectives**
Through its Prizes, the Trust recognises and elevates outstanding writing by women, bringing high-quality, accessible literature to a global readership. Its Talent Development programmes create pathways into writing and publishing, supporting emerging and underrepresented writers to develop skills, confidence and industry connections. Reader Engagement activity focuses on widening participation in reading, building communities and increasing access to books through events, partnerships and digital platforms.
Outreach activity is designed to extend the Trust's reach to audiences not yet fully engaged, including those outside traditional literary networks or in underserved communities. Campaigns and Advocacy work seeks to influence public conversation, challenge structural inequalities within the sector, strengthen the evidence base around inequity within the publishing industry, and ultimately raise the perception of and engagement with women's writing in society, as part of the wider gender justice movement.
Collectively, these activities contribute to the Trust's charitable purpose by advancing education, promoting literature for the public benefit, and fostering greater diversity, representation and inclusion within the literary ecosystem. All activities are delivered for public benefit, with the Trustees having due regard to the Charity Commission's guidance.
Our 2024/2025 objectives were:
- Celebrate the 30th anniversary of the Women's Prize for Fiction, and demonstrate its impact over three decades in changing the landscape for women writers.
- Consolidate and grow the Women's Prize for Non-Fiction in its second year, and begin measuring the impact of the Prize.
- Communicate our charitable goals and impact effectively, and continue to increase awareness of our work as a registered charity.
Our 2024/2025 strategic objectives across the reporting period were structured across five strategic strands:
1. Prizes - recognising and elevating outstanding writing by women writers from around the world publishing novels and narrative non-fiction
2. Talent Development (Writers' Room) - supporting new and emerging writers
3. Reader Engagement (Readers' Room) - growing reader audiences and participation
4. Outreach - reaching underserved or new audiences
5. Campaigns and Advocacy - influencing public conversation and the world of books.
These strands guide both programme delivery and impact measurement, and continue to be our structured focus for the future.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **Achievements and performance**
This section outlines the charity's achievements and performance over the year across its core areas of activity. These include the delivery of three Prizes - the Women's Prize for Fiction (WPF), the Women's Prize for Non-Fiction (WPNF) and the Outstanding Contribution Award (OCA), which together platform longlisted, shortlisted and winning writers and celebrate excellence, originality and accessibility in writing by women.
Alongside this, the charity continued to invest in talent development through its Writers' Room programmes, including Discoveries, wider events and Horizons, to provide access and opportunity to any woman who wishes to write. The charity expanded reader engagement through its Readers' Room activity, including its 30th anniversary campaign, the Bookshelfie podcast, the annual literary day festival Women's Prize LIVE, partnerships with retailers and libraries, and a growing digital community.
The year also saw a strengthened focus on outreach, extending the charity's reach to wider audiences, alongside a programme of campaigns and advocacy aligned with the 30th anniversary. This included high-profile partnerships and media activity, the publication of the charity's first impact report, sector recognition, and the development of new relationships, including in the US.
Together, these activities demonstrate the charity's continued impact in championing women's voices and advancing public engagement with literature.
## **1. The Prizes**
The Prizes which celebrated writing by women in this accounting period include the 2025 Women's Prize for Fiction, the 2025 Women's Prize for Non-Fiction and the one-off Outstanding Contribution Award, marking the 30th anniversary of the Women's Prize for Fiction.
The 30th winner of the WPF was awarded in 2025, using the anniversary 'hook' to consolidate its reputation as the greatest global celebration of women's creativity. The winner was The Safekeep by Yael van der Wouden.
2025 was the second year of the WPNF; the winner, The Story of a Heart by Dr Rachel Clarke, was announced in June 2025.
The Outstanding Contribution Award (OCA) honoured a Women's Prize for Fiction alumna for her exceptional contribution to books and women's causes, with Bernardine Evaristo named the recipient.
## **The Women's Prize for Fiction**
In its 30th year (2025), the Women's Prize for Fiction used its anniversary moment to cement its position as a leading global celebration of women's writing.
The annual £30,000 award recognised a novel written in English and published in the UK within the eligibility period, with the winner receiving the 'Bessie' statuette. Sponsored by Baileys and Audible, the anniversary was marked, despite no additional budget, through the commissioning of new research on the prize's sales impact and producing the Trust's inaugural impact report.
The Trust commissioned new sales data from Nielsen BookScan to form the basis of this impact report. Using the anniversary as a vehicle, the report reflects back over the changes seen in the fiction market since the inception of the Prize in 1996, and the average uplift on the books recognised during that time. It also provided a resource for patrons to see the impact their financial contributions are having in nurturing and encouraging new talent, with statistics on the success of the Discoveries programme to date, alongside a case study from Discoveries 2022 winner, Sui Annukka. The report also clearly defined and outlined impact goals and plans for the future, with a call for donations to support our work, used as part of the Big Give fundraising campaign.
The 30th anniversary of the Women's Prize for Fiction was central to communications throughout the prize cycle, generating 665 pieces of coverage and £27.7 million in advertising value, with milestone messaging also shaping OCA and Women's Prize LIVE festival messaging, programming and media coverage.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
A partnership with BBC Radio 4's Woman's Hour featured 10 episodes reaching a combined audience of nearly 33 million, alongside high-profile editorial and events activity, including a feature in Harper's Bazaar and well-attended anniversary events at London Book Fair and Hay and Edinburgh Festivals.
The co-founder of the Women's Prize for Fiction Kate Mosse received the inaugural Social Impact Award at the British Book Awards, in celebration of Allen Lane and proudly supported by Penguin Random House, recognising her contribution to the book world. The achievement was widely celebrated across the publishing industry, with strong promotion via the award sponsor Penguin Random House's social media channels and a podcast interview, alongside continued support from trade media highlighting the enhanced partnerships with retailers, libraries and reading groups in the anniversary year.
Waterstones amplified the 30th anniversary with content on their website spotlighting the previous winners, and celebrating the history and legacy of the Prize, and hosting for the first time a stock signing with shortlistees, which also acted as a social moment for the authors to interact with one another.
"Since 1996 the Women's Prize for Fiction has underpinned a renaissance in literary fiction written by women. From the start, the contenders have been judged by three core tenets of excellence, originality and accessibility, and the sheer standard of former winners - including Zadie Smith, Madeline Miller, Ali Smith and Maggie O'Farrell - has ensured the Prize's continued standing as one of the country's elite literary awards." Waterstones
Media coverage throughout the prize cycle focused heavily on the 30th anniversary of the Women's Prize for Fiction, generating 665 pieces of coverage and £27.7 million in advertising value, with additional emphasis across the Outstanding Contribution Award and coverage of Her Majesty The Queen at Women's Prize LIVE.
The support of Her Majesty extended to a content partnership with her charity, the Queen's Reading Room, who produced a 30-minute feature film about the Women's Prize Trust; to celebrate the 30 year legacy of the Women's Prize for Fiction, tell the story of its origins, showcase its impact over three decades, and its ambitions and plans for the future.
"Budding authors have benefitted from the wisdom of those who have trodden the same path. Careers have been launched, bestsellers have flown off the shelves into the hands and hearts of the public, and each year you distribute 3,000 books to people in need. And you have forged a community of 16 million readers who love, in your own words, "original, accessible and brilliant" literature. In short, you have transformed the literary landscape for women." Her Majesty The Queen
For the 30th Women's Prize for Fiction, the judging panel was chaired by author Kit de Waal. She was joined by author, journalist and inaugural winner of the 2006 Orange Award for New Writers (the Women's Prize for debut novelists), Diana Evans; author, journalist and mental-health campaigner, Bryony Gordon; magazine editor, most recently Editor-in-Chief of Glamour UK, Deborah Joseph; and musician and composer, Amelia Warner. The Fiction panel was announced with the Non-Fiction judging panel in order to maximise visibility and impact.
The judges selected a longlist of 16 books, announced on 4 March 2025:
- Good Girl by Aria Aber (published by Bloomsbury)
- The Ministry of Time by Kaliane Bradley (published by Sceptre, Hodder & Stoughton, Hachette)
- Somewhere Else by Jenni Daiches (published by Scotland Street Press)
- Amma by Saraid de Silva (published by Weatherglass Books)
- Crooked Seeds by Karen Jennings (published by Holland House Books)
- All Fours by Miranda July (published by Canongate Books)
- The Dream Hotel by Laila Lalami (published by Bloomsbury Circus, Bloomsbury)
- The Persians by Sanam Mahloudji (published by 4th Estate, HarperCollins)
- Dream Count by Chimamanda Ngozi Adichie (published by 4th Estate, HarperCollins)
- Nesting by Roisín O'Donnell (published by Scribner, Simon & Schuster)
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
- A Little Trickerie by Rosanna Pike (published by Fig Tree, Penguin General, Penguin Random House)
- Birding by Rose Ruane (published by Corsair, Little, Brown Book Group, Hachette)
- The Artist by Lucy Steeds (published by John Murray, John Murray Press, Hachette)
- Tell Me Everything by Elizabeth Strout (published by Viking, Penguin General, Penguin Random House)
- The Safekeep by Yael van der Wouden (published by Viking, Penguin General, Penguin Random House)
- Fundamentally by Nussaibah Younis (published by Weidenfeld & Nicolson, Orion Publishing Group, Hachette)
The announcement of the 2025 Women's Prize for Fiction longlist delivered significant visibility, particularly substantial US coverage and widespread pickup across Europe, Asia, Africa and Australasia, reflecting the global relevance of the selected titles and the Prize itself. High-profile features across national, consumer and trade media further reinforced the Prize's position within the literary landscape.
We announced the six-strong Fiction shortlist as:
- Good Girl by Aria Aber
- All Fours by Miranda July
- The Persians by Sanam Mahloudji
- Tell Me Everything by Elizabeth Strout
- The Safekeep by Yael van der Wouden
- Fundamentally by Nussaibah Younis
"Over the past three decades the Women's Prize for Fiction has celebrated imaginative, accomplished novels year after year, and in doing so has helped change the landscape for fiction writing in the UK. . . Now that we arrive at the announcement of our shortlist, what seems absolutely apparent to me is how perfectly each of these six novels exemplify the original tenets of the Prize: originality, accessibility and sheer brilliance." Kit de Waal, 2025 Chair of Judges
The announcement of the 2025 Women's Prize for Fiction shortlist generated strong global media impact, resulting in over 500 pieces of coverage. Coverage was amplified by high-profile broadcast and media engagement from Chair of Judges Kit de Waal, alongside widespread international syndication, including Associated Press coverage across the US and pickup across Europe, the Middle East, Asia and Australasia. De Waal appeared on BBC Radio 4's Woman's Hour the morning of the shortlist announcement, and was interviewed for iPaper, The Guardian, and The Times alongside a preview of the shortlisted books.
## **The Women's Prize for Non-Fiction**
In its second year, the Women's Prize for Non-Fiction focused on consolidation, continuing its mission to address the underrepresentation of women in non-fiction publishing and media coverage. The Prize was born out of research which showed that female non-fiction writers are less likely to be reviewed in the UK national media and less likely to be shortlisted for or awarded book prizes than their male counterparts.
The Prize celebrates excellence in writing and research, strong and original narrative voices, and accessibility. It is awarded to a work of narrative non-fiction - from science, smart thinking, history, biography and politics, to memoir, sport, music, nature writing and philosophy - written in English and published in the UK within the eligibility window (1 April 2024 - 31 March 2025).
The winner receives £30,000 and a limited-edition artwork known as the 'Charlotte', created by Ann Christopher RA FRSS, both gifted by the Charlotte Aitken Trust. The 2025 Women's Prize for Non-Fiction was sponsored by Findmypast.
The Women's Prize for Non-Fiction judging panel was chaired by journalist, broadcaster and author Kavita Puri. She was joined by Dr Leah Broad, whose work focuses on women's cultural history; novelist and critic, Elizabeth Buchan; writer and environmental academic Dr Elizabeth-Jane Burnett and author and writer of The Hyphen newsletter on Substack, Emma Gannon.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
The 2025 longlist generated strong visibility with reach and advertising value increasing significantly, supported by major coverage, broadcast features (including BBC Radio 4's Woman's Hour), and partnerships with retailers, newsletters and influencers.
Digital performance was also strong, with high engagement across social media, video content and newsletters, alongside increased website traffic. Retailers, independent bookshops and libraries actively supported the longlist through promotions, displays and campaigns, reinforcing the Prize's growing presence and impact.
The judges selected a longlist of 16 books, announced on 12 February 2025:
- Autocracy, Inc.: The Dictators Who Want to Run the World by Anne Applebaum (published by Allen Lane, Penguin Press, Penguin Random House)
- Embers of the Hands: Hidden Histories of the Viking Age by Eleanor Barraclough (published by Profile Books)
- The Eagle and the Hart: The Tragedy of Richard II and Henry IV by Helen Castor (published by Allen Lane, Penguin Press, Penguin Random House)
- A Thousand Threads by Neneh Cherry (published by Fern Press, Vintage, Penguin Random House)
- The Story of a Heart by Rachel Clarke (published by Abacus, Little, Brown Book Group, Hachette)
- Raising Hare by Chloe Dalton (published by Canongate Books)
- Ootlin by Jenni Fagan (published by Hutchinson Heinemann, Cornerstone, Penguin Random House)
- Why Fish Don't Exist: A Story of Loss, Love and the Hidden Order of Life by Lulu Miller (published by ONE, Pushkin Press)
- Agent Zo: The Untold Story of Fearless WW2 Resistance Fighter Elżbieta Zawacka by Clare Mulley (published by Weidenfeld & Nicolson, Orion Publishing Group, Hachette)
- By the Fire We Carry: The Generations-Long Fight for Justice on Native Land by Rebecca Nagle (published by William Collins, HarperCollins)
- Wild Thing: A Life of Paul Gauguin by Sue Prideaux (published by Faber & Faber)
- What the Wild Sea Can Be: The Future of the World's Ocean by Helen Scales (published by Grove Press, Atlantic Books)
- The Peepshow: The Murders at 10 Rillington Place by Kate Summerscale (published by Bloomsbury Circus, Bloomsbury Publishing)
- Sister in Law: Fighting for Justice in a System Designed by Men by Harriet Wistrich (published by Torva, Transworld, Penguin Random House)
- Tracker by Alexis Wright (published by And Other Stories)
- Private Revolutions: Coming of Age in a New China by Yuan Yang (published by Bloomsbury Circus, Bloomsbury Publishing)
"What unites these diverse titles, that boast so many different disciplines and genres, is the accomplishment of the writing, the originality of the storytelling and the incisiveness of the research. Here are books that provoke debate and discussion, that offer insight into new experiences and perspectives, and that bring overlooked stories back to life and recognition."
Kavita Puri, 2025 Chair of Judges
The Women's Prize for Non-Fiction longlist received strong media attention, with articles covering the announcement in the first 24 hours including The Guardian, Independent, The Times, Irish Times, The Know, Yahoo, MSN, Stylist and Good Housekeeping.
BBC Radio 4 Woman's Hour dedicated 15 minutes to the longlist announcement, with an interview with Kavita Puri and Kate Mosse. Kavita also did several other broadcast interviews following announcement, including Times Radio, BBC Radio London and Monocle Radio.
The Non-Fiction shortlist of six books was announced on 26 March 2025:
- A Thousand Threads by Neneh Cherry
- The Story of a Heart by Rachel Clarke
- Raising Hare by Chloe Dalton
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
- Agent Zo: The Untold Story of Courageous WW2 Resistance Fighter Elżbieta Zawacka by Clare Mulley
- What the Wild Sea Can Be: The Future of the World's Ocean by Helen Scales
- Private Revolutions: Coming of Age in a New China by Yuan Yang
Coverage for the shortlist ran across print, online, and broadcast, including coverage in The Guardian, The Independent, Good Housekeeping, Country & Town House and LoveReading. A piece on the BBC News website delivered the largest reach of any coverage, with an audience of 139 million.
BBC Radio 4's Woman's Hour continued to support the shortlist announcements with discussions on its daily programme. Chair of Judges Kavita Puri did additional interviews following the announcement. These included BBC London, Monocle, Five Books, and BBC WM.
## **The Outstanding Contribution Award**
To mark the 30th anniversary of the Women's Prize for Fiction, the Trust launched the Outstanding Contribution Award (OCA), a one-off special award recognising a previous Prize author whose work, advocacy and leadership have made a significant contribution to literature and to women's causes. The Award aligns directly with the Trust's charitable objectives to celebrate, amplify and support women's voices in literature, thereby enriching readers and the wider cultural landscape - values shared by the Award's funder Bukhman Philanthropies.
The Award criteria reflected three core judging tenets: literary excellence (a substantial body of fiction work meeting the Prize's standards), contribution to the literary ecosystem (including engagement with readers, writers, bookshops and educational contexts), and demonstrable support for women through advocacy or activism.
Bernardine Evaristo was selected as the 2025 recipient through a confidential judging process led by a panel of former Women's Prize judges, chaired by Kate Mosse. Mosse was joined by a selection of former judges of the Women's Prize for Fiction: Dame Gillian Beer, academic and writer; Scarlett Curtis, writer, activist and trustee of the Women's Prize Trust board; Bonnie Greer OBE, playwright, author and critic; and Vick Hope, broadcaster and host of the Women's Prize Bookshelfie podcast.
To be eligible for the Award, authors must have been longlisted, shortlisted or won the Women's Prize for Fiction since 1995. They also had to meet the tenets of the Award: to have a substantial body of fiction work and to have contributed through advocacy and activism to both women's causes and the wider world of books. Beyond this, the authors would need to confirm their availability to receive the Award and take part in the anniversary events in June, and their consent to be involved.
Delivery of the Award involved cross-sector collaboration, including close partnership with the recipient's UK and international publishers, retailers, media and cultural partners. This ensured coordinated promotion, distribution of books, and alignment of branding and communications.
The Award was generously supported by philanthropic funding from Bukhman Philanthropies, enabling a significant financial prize of £100,000 for the recipient and the commissioning of a bespoke sculpture by artist Caroline Russell, reinforcing the Trust's commitment to valuing women's creative labour.
A two-stage communications strategy (April-June 2025) successfully positioned the Award alongside the annual Prize activity while maintaining distinct visibility. The initiative generated substantial public engagement and awareness, with 574 pieces of media coverage, a global reach of approximately 2 billion and £11.3 million in advertising value equivalent. Digital engagement included strong newsletter performance (c.42% open rates) and social reach exceeding 1.4 million in the week following the recipient announcement.
The Award also activated public-facing and sector engagement through a programme of events, including participation in Women's Prize LIVE, a high-profile awards ceremony, and partnership events with media and cultural organisations. Retail partnerships further extended public benefit by increasing access to the recipient's work through national campaigns, in-store promotion and special editions.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
"We felt that Bernardine Evaristo's beautiful, ambitious and inventive body of work (which includes plays, poetry, essays, monologues and memoir as well as award-winning fiction), her dazzling skill and imagination, and her courage to take risks and offer readers a pathway into diverse and multifarious worlds over a forty-year career, made her the ideal recipient of the Women's Prize Outstanding Contribution Award. Significantly, Evaristo has consistently used her own magnificent achievements and exceptional talent as a springboard to create opportunities for others, to promote unheard and under-heard women's voices and to ensure that every female writer feels she has a conduit for her talent. Congratulations to Bernardine and a huge thank you to my fellow judges for such a joyous and celebratory process."
Kate Mosse
In support of sustained impact, the Trust has committed to extending the reach of the Outstanding Contribution Award through ongoing educational and outreach activity, including the provision of free books and teaching resources to schools and further engagement through events and fundraising activity in 2026. These next steps demonstrate a continued focus on widening access, supporting talent development and ensuring long-term public benefit beyond the initial events programme.
Bernardine exemplified why she was so deserving of the award through her ambitions to pay it forward, through establishing the Pioneer Prize, to shine a spotlight on ten older female creatives.
Overall, the OCA successfully advanced the Trust's mission by elevating a leading woman writer as a role model, stimulating public conversation around women's contributions to literature, and strengthening partnerships across publishing, media and cultural sectors.
## **Media and Sales Impact**
The 2025 winners announcement delivered a significant increase in media impact across both Prizes and the Outstanding Contribution Award (OCA). Coverage remained overwhelmingly positive (96%) and was amplified by strong broadcast presence across BBC platforms and global radio.
Fiction generated the highest volume of coverage, driven by the 30th anniversary milestone and strong international interest in winner Yael van der Wouden. Within 24 hours, fiction secured 700 media items, rising to over 900 after one month. International pickup was particularly strong, with widespread syndication and coverage across multiple global markets.
Non-Fiction also delivered robust growth, though at a lower scale than fiction, with activity continuing to reinforce the Prize's mission, including thought leadership on the gender gap in non-fiction publishing. Overall, the winners announcement across the three Prizes demonstrated substantial year-on-year growth in reach, international coverage and media value, despite external news competition, confirming the continued global relevance and influence of the Women's Prize.
## **2) Writers' Room**
The Women's Prize Trust delivers a range of talent development activities designed to support and empower women writers at all stages of their creative journey. Through its Writers' Room programmes, the charity provides accessible pathways into writing and publishing, particularly for those who may face structural or socio-economic barriers to entry.
This work contributes directly to the Trust's charitable objectives by advancing education, increasing diversity within the literary sector, and supporting the development of new voices in writing.
During the reporting period, the Trust continued to deliver and grow its flagship programmes:
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **Discoveries**
Discoveries is the Women's Prize Trust's flagship talent development programme for emerging female novelists in the UK and Ireland, delivered in partnership with Audible, Curtis Brown and Curtis Brown Creative. In its fifth year in 2024 - 2025, the programme provides accessible routes into publishing for aspiring writers, particularly those from underrepresented backgrounds, through a combination of open submissions, professional development opportunities, industry access and ongoing peer support.
In 2025, Discoveries received 2,665 submissions. The programme continued to demonstrate strong reach beyond the publishing epicentre of London (77% of entrants), alongside sustained representation from under-represented groups, including 43% of entrants identifying as from working-class backgrounds and 21% as disabled. Outreach activity, including regional events, partnerships and targeted digital campaigns, supported engagement with particular target audiences including older women, women from outside of London and women with a disability, while a dedicated online working-class writing panel event with Kit de Waal and Dreda Say Mitchell chaired by Elaine Canning attracted over 250 participants and increased awareness and confidence among prospective applicants.
The programme's digital and communications activity delivered significant engagement, with strong newsletter open rates (averaging over 50%) and increased reach through social media and targeted advertising. Strategic partnerships with festivals, writing groups and media platforms further extended reach and visibility, supporting the Trust's objective to broaden access to writing careers.
Discoveries continues to demonstrate clear outcomes in supporting writers into the industry. Sponsors Audible supported the 2025 shortlist cohort with a studio day, introducing the writers to audiobook production. Curtis Brown Creative annually support the longlist, shortlist and scholar with different levels of teaching and writing courses, depending on which stage of the programme they reach.
We hosted three Discoveries writers publishing in 2025 in Edinburgh in August for two days of networking and development opportunities including an 'Ask Me Anything' session with independent publisher Canongate, independent bookseller Q&A with Portobello Books, and an opportunity to read from their forthcoming book on stage at Edinburgh International Book Festival, as part of their Fresh Words showcase series. An in-person continued development day for all alumna also took place in autumn 2025 (the following financial year).
The programme's peer network and industry connections remain a key strength, providing ongoing support beyond the competition cycle, providing a community for each annual cohort, and in turn the wider alumni network, which has now grown to a total of 80 writers. Through online events organised by the Women's Prize Trust, or smaller events within each cohort or the spin-off reading group, the Writers' Reading Book Club, Discoveries writers continue to form inter-cohort friendships, and act as each other's first readers, cheerleaders and general writing communities.
The first half of 2025 saw the publication of three debut novels recognised by the Discoveries programme, all who participated in Women's Prize events and whose publications were supported and celebrated on Women's Prize channels. Over 70% of the longlisted authors from the first three years of Discoveries have since accepted offers of representation by UK literary agents.
## **Horizons**
Alongside Discoveries, the Trust continues to develop Horizons, its non-fiction talent development strand. Initially launched as an open-access toolkit, planning for Horizons to evolve into a structured mentorship programme was taking place at this time, in partnership with publishers, to support women working in professional careers to develop new non-fiction work for the consumer market.
We produced with sponsor of the Women's Prize for Non-Fiction, Findmypast, and publishers to expand the free online toolkit offering for writers in 2024 to 2025. Pieces with Findmypast included practical advice, such as how to use their records for non-fiction research and how to incorporate primary sources into writing, alongside providing prompts and sources writers can use. We also worked with publishers on features with authors on topics such as genre and tone, top-tips for research, and insight into the industry on subjects such as questions to ask an editor and how to work with a non-fiction publicist.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
Together, these programmes contribute to the Trust's charitable objective of advancing education and increasing diversity within the writing and publishing sectors by removing barriers to entry, building skills and confidence, and creating pathways to professional opportunities.
## **3) The Readers' Room**
The Women's Prize Trust significantly expanded its reader engagement activity in 2025, using its 30th anniversary as a catalyst to broaden access to women's writing and deepen participation across the UK and internationally.
As part of the Women's Prize Trust's charitable objective to promote reading and widen access to literature by women, the 30th anniversary programme provided the perfect opportunity for the Readers' Room to be bolstered as an umbrella for audience engagement activity, supported by philanthropic funding from Syl Saller CBE. The programme aimed to increase engagement with Women's Prize titles, including backlist works; strengthen partnerships with libraries and reading groups across the UK; and broaden and diversify readership through more inclusive access to literature.
## **Retailers**
Close working relationships with retailers are key for an impactful route to readers for the Women's Prizes, including Waterstones, WHSmith, Blackwells, Bookshop.org, Foyles, Dubrays, Gardeners, The Booksellers Association and National Book Tokens, hundreds of independent booksellers, and for the first time Monwell, who run The Times and Guardian online bookshops. They support the prize announcements online on social media, via newsletter and website content, as well as via in-store support, and we offer gratis digital promotional material to create displays and social media content.
In announcing the two Prize shortlists a week apart in 2025, the intention was to provide greater opportunity for bookshops and libraries to be able to promote the shortlists alongside each other. Our POS packs included assets for both Prizes, as well as the 30th anniversary of the Women's Prize for Fiction.
Free POS packs including shortlist bookmarks and 30th anniversary postcards were sent to Waterstones stores, WHSmith travel stores running the Women's Prize 30th anniversary promotion and independent bookshops at request and libraries via Libraries Connected.
Though WHSmith have been an important retailer relationship in the past, we brokered a more formal partnership with them for the first time, to engage and celebrate the 30th anniversary of the Women's Prize for Fiction, using it as a sales hook for some backlist titles. WHSmith ran a sales promotion of 'Buy One, Get One Half Price' on a list of 35 titles by women associated with the Women's Prize - either previous judges, or books that had been longlisted, shortlisted or won over the years. The promotion ran in 25 of their high-footfall travel stores across the UK including airports and key rail locations nationwide.
To support the promotion, the Women's Prize online channels ran content with some of the authors whose books had been selected - including in-store filming with Lionel Shriver and Diana Evans and written interviews with V. V. Ganeshananthan, Margaret Atwood, Meg Mason and Sarah Waters.
We also benefited from a charity partnership with Bookshop.org, who generously donated 10% of every book sale to the charity over the Women's Prize for Fiction longlist announcement weekend. The longlist announcement, as has become tradition, coincided with the week of International Women's Day on 8th March 2025, which along with our 30th anniversary, provided an additional opportunity to promote both our longlists and our charitable work with a fundraising drive. Women's Prize Trust messaging was included in their newsletters sent to over 250K subscribers. The promotion resulted in an increase in book sales over the weekend, and subsequently a donation of over £2,000 to the Women's Prize Trust.
## **Libraries**
Another key route to readers is the library network, so we forged a new partnership with Libraries Connected to expand national reach, with free point-of-sale packs distributed to libraries featuring printed and digital resources such as reading guides and anniversary content such as quizzes.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
This activity increased access to contemporary and backlist titles by women writers through trusted community spaces, with participant feedback indicating enhanced reader confidence, critical engagement and sustained interest in reading.
The Readers' Room programme successfully reached geographically and demographically diverse audiences, including those not previously engaged with the Women's Prize, while strengthening national partnerships to support long-term reach and scalability. Early learning suggests that while uptake of livestream content by libraries was more limited, there is strong demand for structured reading support, and the Readers' Room provides a clear and scalable framework for future audience development and philanthropic investment.
## **Book clubs**
In collaboration with The Reading Agency, we engaged six book clubs for each Prize from different backgrounds, ages and regions of the UK, from Glasgow to Hythe, Wales to the Midlands. The groups all had different stories of how they had come to read together, ranging from neighbours to friends, formed through Covid or having met at work, campaigning groups, bookshop book clubs and online connections.
Each group was sent a copy of one of the shortlisted titles in a format of their choice - physical, digital or a credit to download the audiobook - to read and discuss as a group, and were encouraged to share their reviews. We hosted an online introductory session for the groups to meet each other and for us to hear a bit more about them, and a final conversation with each of our Chairs of Judges, as a moment for the reading groups to feed back their thoughts on the shortlisted titles. These were entertaining, thoughtful and valued events for both the groups and the chairs of judges.
A live-streamed shortlist readings event was piloted with free global access for libraries and reading groups, and a short film was produced to showcase the programme's impact.
"It was exciting to feel part of a bigger conversation than a small group of next-door neighbours talking to each other! It made some of us take the reading more seriously and has made us think about how to bring talking about books to others. We agreed unanimously that we would recommend the Women's Prize for Fiction - a definite 10/10! It's encouraged us to take reading more 'seriously' and consider and interrogate our opinions more deeply. Most of all, the choice of books the Women's Prize offered was inspiring; quite a few of us want to read other books on the fiction list, and we may even approach the non-fiction list too!"
## **Women's Prize LIVE**
Women's Prize LIVE is the Women's Prize Trust's annual public festival, bringing together readers, writers and industry voices to celebrate and engage with women's writing through a programme of talks, performances, workshops and live discussions. As the Trust's flagship public-facing event, it provides direct access to leading and emerging authors, creating opportunities for audiences to connect with literature in an inclusive and interactive environment. It is very important to us to host a public event before our flagship private one - the invite-only summer party where the prize winners are announced each year - so that our audience feels included in and excited about our mission in action. The 2025 festival acted as a central public-facing moment in June 2025, attracting just under 1,000 attendees, generating revenue in ticket income for the charity, and achieving strong audience satisfaction:
- 91.7% of respondents said WP met their expectations; up 11.7% from 2024.
- 77% felt it offered value for money; up 17.5% YoY.
- The events felt to be the highlights were: Shortlist Readings (67.6%), In Conversation with Bernardine Evaristo (52.9%) and In conversation with Tayari Jones (50.5%).
- 85.3% (up 14.4% YoY) enjoyed the format of the Shortlist Readings - with the Fiction and Non-Fiction authors together.
- 94.2% either "agree" or "strongly agree" that WP LIVE felt inclusive and welcoming; up 3.2% from 2024.
- 96.1% would attend WP LIVE again; 11.4% higher YoY.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
For the first time, key programme elements including the shortlist readings with all 12 Prize authors were livestreamed globally, increasing accessibility and reaching new digital audiences, alongside social media reach of 1.8 million. A high-profile visit from Her Majesty The Queen who hosted a reception with shortlisted authors, supporters and patrons of the Women's Prize Trust and took to the stage to talk about the impact of the Women's Prize over thirty years further amplified visibility, contributing to an estimated media reach of 1.1 billion.
New and strengthened partnerships with retailers, including WHSmith and Waterstones, supported national promotion of 30th anniversary titles, while a live and streamed book club series with Storyhouse enabled deeper, place-based and digital audience interaction.
Collectively, these activities demonstrate the Trust's commitment to public benefit by increasing access to literature, encouraging reading for pleasure, and creating inclusive opportunities for audiences to engage with women's writing across multiple platforms and locations.
## **Digital community**
Across the reporting period, the Women's Prize Trust continued to build and engage a global digital community, with strong participation from readers, writers, publishers and booksellers across its platforms. Activity was characterised not only by scale but by active engagement, with audiences contributing to discussion, sharing content and responding to Prize announcements in real time.
This growing and participatory digital presence plays an important role in delivering public benefit, extending access to literature by women, fostering reading communities, and enabling wider and more inclusive engagement with the Trust's work beyond physical events.
Digital engagement around the 2025 Prize announcements remained strong, with high levels of audience interaction across social media, video, newsletters and web traffic. The Women's Prize for Fiction longlist generated particularly significant online engagement, with over 60,000 interactions, reflecting active participation from readers, bookshops, publishers and influencers. Newsletter performance was consistently strong, with open rates exceeding 40% and clickthrough rates improving year-on-year, while announcement moments drove substantial spikes in website traffic, including over 78,000 page views within the first 24 hours.
This momentum continued through the shortlist announcement, with video content performing strongly across platforms, achieving over 500,000 views, and engagement levels remaining consistent year-on-year. Sentiment across digital channels was overwhelmingly positive, supported by broad participation from the global literary community.
For the Women's Prize for Non-Fiction, digital performance demonstrated continued growth in the Prize's second year. Announcement activity had tens of thousands of interactions and strong support from authors, influencers and media partners. Newsletter engagement remained high, with open rates again exceeding 40%, contributing to sustained visibility and audience reach.
In line with the Trust's charitable objectives, this digital activity demonstrates the effectiveness of the Prizes in reaching large and diverse audiences, encouraging participation in reading and literary discussion, and increasing access to writing by women through widely accessible digital channels.
## **Storyhouse partnership**
In 2024-25, the Women's Prize Trust established a new regional partnership with Storyhouse, an independent arts centre in Chester, to extend its reach beyond London and engage new audiences. The collaboration delivered a hybrid programme of live and streamed events, enabling both local participation and global access. This model also diversified income streams, with in-person ticket sales managed by Storyhouse and livestream sales retained by the Trust.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
Activity launched with Women's Prize Day in November 2024, as part of Chester Literature Festival. The programme combined reader engagement and talent development, featuring a creative writing workshop led by Ayisha Malik and a publishing panel with Discoveries alumni and industry professionals, designed to encourage submissions to the Discoveries programme. A panel discussion exploring the relevance of the Women's Prize today further deepened audience engagement.
This was followed by a curated series of Book Club events, positioned as a distinctive, high-quality literary offer. Events featured leading authors including Susanna Clarke, Sarah Waters and Paula Hawkins (online), alongside conversations with Women's Prize champions Louise and Simon Savidge. The series celebrated the Prize's 30th anniversary by spotlighting titles from the Women's Prize Library, while fostering discussion around contemporary writing and reading. The final event formed part of Women's Prize LIVE in June 2025.
Overall, the partnership successfully broadened the Trust's geographic reach, strengthened regional relationships, and created an accessible, hybrid model for reader engagement aligned with its charitable objectives.
## **Bookshelfie podcast**
Season 8 of the Bookshelfie podcast, hosted by broadcaster Vick Hope continued to be a popular recommendation tool for readers in the reporting period, with 25 guests suggesting 125 books by women. High-profile guests included Julia Gillard and Neneh Cherry, alongside strong-performing episodes with Chairs of Judges Kavita Puri and Kit de Waal, and former shortlisted author Tracy Chevalier.
The podcast continues to reach a broad and diverse audience, with 62.3% of listeners based in the UK and an international listenership spanning Ireland, Australia, Germany, Canada and New Zealand. Audience demographics are evenly distributed across age groups and gender, with near parity between men and women. The listening remains predominantly mobile.
Supported by Baileys, we scheduled and hosted a live recording with 2025 Women's Prize for Non-Fiction shortlisted writer, singer Neneh Cherry, at Diageo 1HQ as an opportunity for internal engagement.
## **4) Outreach**
Outreach to promote our activities to audiences we haven't reached yet is a priority for the Women's Prize Trust, exemplified by the promotional events for Discoveries in new UK regions, the event series partnership with Storyhouse in Chester, reaching a local regional audience that had not been previously served, and selecting a broad range of reading groups and influencers to work with across the Prizes.
Additionally, the writers nominated for the Prizes tend to be a diverse group drawn from around the globe, stemming from the intentionally broad make-up of the judging panels across age, ethnicity, socio-economic group, profession, profile level and reading taste. Platforming ten different women as prize judges who together select 32 women's work to champion, in turn
Both the 2025 Women's Prize for Fiction and Women's Prize for Non-Fiction longlisted writers range from the 25-34 age bracket to 75+. 20% of the Fiction writers identify as coming from a lower socio-economic background, and 12.5% of the Non-Fiction writers as having a disability or long-term health condition. 47% of the fiction writers and 62% of the Non-Fiction writers are white, with 20% of Fiction coming from mixed or multiple ethnic groups.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **5) Campaigns and Advocacy**
The Women's Prize Trust used its 30th anniversary as a strategic platform for advocacy and public benefit, significantly raising awareness of its charitable purpose to celebrate and amplify women's writing. This was reflected in 665 media pieces marking the milestone, alongside high-profile moments such as the visit of Her Majesty The Queen to Women's Prize LIVE, which generated 125 media mentions, a reach of 1.1 billion. A year-long partnership with BBC Radio 4's Woman's Hour delivered 10 dedicated episodes, reaching a combined potential audience of almost 33 million, while additional features, festival events and trade media coverage further extended public engagement. Founder Director Kate Mosse's recognition with the inaugural Social Impact Award at the British Book Awards further reinforced the Trust's leadership and advocacy role within the sector.
Anniversary programming provided further opportunities for outreach and engagement, with the series of publicfacing book club events, delivered in partnership with Storyhouse and at Women's Prize LIVE connecting audiences with the Women's Prize Library and contemporary voices in women's writing.
These were complemented by anniversary events at the London Book Fair and Hay Festival, with the latter selling out, alongside editorial features such as Diana Evans' Harper's Bazaar piece on her experience of the Women's Prize over several decades. Retail partnerships with WHSmith and Waterstones extended this engagement into high-footfall public spaces, promoting backlist titles and shortlisted authors, while Bookshop.org contributed to charitable income generation through a dedicated fundraising campaign.
The anniversary also strengthened the Trust's evidence base and sector influence, with the commissioning of new research on book sales performance and publication of its first impact report, supporting transparency and learning. International advocacy was advanced through a US visit to build profile and funding relationships, including engagement with media and leading booksellers. Collectively, these activities demonstrate how the Trust leveraged its anniversary to increase reach, deepen partnerships, generate income, and evidence its contribution to advancing women's writing for public benefit.
## **Financial review**
Overall for the financial year ended 31 August 2025, the charity had a final position of £152,952, having begun the year with a reserve of £15,405.
## **Income**
## **a) Sponsorship**
The charity has continued to attract sponsorship and income associated with its charitable activities helping the charity to diversify revenue streams and become more resilient and sustainable for the future. The Women's Prize Trust continues to maintain a close control on its costs and expenditure.
The Women's Prize for Fiction 2025 was supported by corporate sponsors Baileys and Audible, who also sponsor the Bookshelfie podcast and the Discoveries programme. The Women's Prize for Non-Fiction 2025 was sponsored by Findmypast and supported by the Charlotte Aitken Trust. Each prize received financial support from publishers whose books were longlisted, shortlisted and won. The Trust's activity was also supported by several in-kind partnerships, including Blake Morgan and Midas.
This period marked the 11th year of Baileys' sponsorship of the Women's Prize for Fiction, representing a longstanding and successful partnership for the Prize. Media coverage secured across the prize cycle that featured Baileys branding or mentions delivered an estimated advertising value of £13 million, demonstrating the continued strength and visibility of the partnership and a significant return on investment.
## **b) Individual Giving**
The patrons programme continues to generate significant income for the charity and its work, alongside offering opportunity for like-minded individuals to come together in their united passion at the June events as well as smaller, regular events such as a new patron writers' social.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **c) Trusts & Foundations**
The Women's Prize Trust benefited from a generous grant from Bukhman Philanthropies to support its 30th anniversary celebrations, namely the Outstanding Contribution Award. Bukhman Philanthropies' purpose in grantmaking is to create 'meaningful change and building a brighter collective future.'
We also appreciate the long-standing commitment of the Charlotte Aitken Trust, who fund the £30,000 for the Women's Prize for Non-Fiction winner and the sculpture, 'the Charlotte'.
Other trusts have been identified, researched and applications drafted for grants of £50k+ for unrestricted or restricted, and the preparatory work for the proposals underway.
## **d) Other commercial income**
Other commercial income secured is via publishers' contributions at longlist, shortlist and winner stages to the promotional strand of the prizes; event ticket income, merchandise and smaller partnerships with corporates.
## **Expenditure**
The prize purse across the Women's Prize for Fiction and the Women's Prize for Non-Fiction was £60,000. Support and direct costs maintain the bulk of the organisation's expenditure given the labour-intensive, highly-skilled delivery and the focus on beneficiary impact.
## **Reserves policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level 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 given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Risk Management**
The trustees examine on a quarterly basis the major strategic, business and operational risks which the charity faces and confirm that mitigations and systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
The primary risks identified in this period are:
|**Key Risk**|**Potential Impact**|**Mitigation**|
|---|---|---|
|**Failure to secure sufficient**
**projected income to deliver**
**strategic plan**|•
Dependency on limited income
sources
•
Unsatisfactory returns
•
Reputational risks of campaigns
or methods used
•
Actions of funders
•
Compliance with law and
regulation|•
Ensure a diverse and comprehensive
income strategy is implemented and
reviewed quarterly
•
Implement rolling fundraising and
development plans
•
Steward existing funders
•
Maintain sufficient reserves to invest
in projects where necessary
•
Implement appraisal, budgeting and
authorisation procedures
•
Procurement procedures to secure
value for money
•
Regularly review regulatory
compliance
•
Monitor adequacy of financial returns
achieved|
|**Reputational damage**|•
Negative impact on individual
giving due to loss of donor
confidence or funding
•
Reduced use of services by
beneficiaries due to loss of
confidence
•
Reduced ability to access grants
or corporate funding|•
Review policies, values and charitable
objectives annually
•
Maintain a crisis management
protocol and committee
•
Regular communication with funders,
supporters and beneficiaries
•
Ensure high-quality reporting of the
charity’s activities and financial
position|
|**Loss of or over-reliance on**
**key staff**|•
Loss of experience or skills
•
Operational impact on projects
and priorities
•
Loss of corporate knowledge|•
Succession planning
•
Maintain appropriate staffing levels
•
Transfer critical knowledge and skills
to others
•
Implement training programmes
•
Agree notice periods and handovers
•
Review recruitmentprocesses|
|**Cybercrime or digital failure**|•
Systems fail to meet operational
needs
•
Website or social media accounts
hacked
•
Loss/corruption of data
•
Breach of data protection
legislation|•
Regularly review system needs and
security procedures
•
Implement measures to secure and
protect data
•
Maintain service/support contracts
•
Create disaster recovery procedures
•
Maintain adequate insurance cover|
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
The primary risks identified in this period are:
|**Key Risk**|**Potential Impact**|**Mitigation**|
|---|---|---|
|**Risk of the use of AI in**
**writing**|•
AI development prioritised over
copyright considerations
•
Authors require guidance and
support
•
Reduction in authors’ income
from copyrighted works
•
Difficulty identifying AI-generated
literarywork|
•
Stay informed and engaged with
stakeholders
•
Review and update eligibility and
judging processes
•
Utilise technological developments to
detect AI usage where possible|
|**Legal and cultural shifts**
**relating to sex/gender**|•
Availability of contract and grant
funding
•
Impact of tax regime on
voluntary giving
•
Impact of legislation or regulation
on activities undertaken
Impact on the role of the
voluntary sector|
•
Monitor legal and regulatory
developments
•
Consider membership of appropriate
umbrella bodies
•
Regularly review organisational
policies and position
•
Board sub-committee meetings as
required
Maintain crisis management protocols
and committee|
## **Plans for the future periods**
The 30th anniversary has helped the Women's Prize Trust to consolidate its position within the global writer and reader community as a champion of reading and writing, supported by a strong network of incredible supporters and financial sponsors, helping it to deliver its mission of building a better future by _championing women's writing_ . Aims for the future include:
- **Supporting writers in dialogue with readers** - utilise the prizes to showcase excellent, original and accessible books to readers around the world, to encourage them to discuss and debate the content and themes, and be open to being changed by a multiplicity of perspectives and expertise.
- **Understanding the changing world** - staying up-to-date on Al developments so that we can tweak current and design new interventions and campaigns to support and engage readers and writers.
- **Developing relationships in global territories** - explore stakeholder and audience networks that support the advancement of our mission and objectives.
- **Deepening impact** - 2025 was the second year consolidating the Women's Prize for Fiction, so the future focus is on building impact of the award on reading habits and writers' sales, alongside continuing to champion voices in fiction who can benefit from enhanced access and opportunity.
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## **WOMEN'S PRIZE TRUST**
## **REPORT OF THE TRUSTEES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Women's Prize Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, UHY Calvert Smith LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 11 May 2026 and signed on the board's behalf by:
~~...................~~ .................................. 58450000-6A34-F6C7-E288-08DEBB3D497F ~~...................~~
Ms A M L Ollard - Trustee
-21-
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOMEN'S PRIZE TRUST**
## **Opinion**
We have audited the financial statements of Women's Prize Trust (the 'charitable company') for the period ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
22-
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOMEN'S PRIZE TRUST**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
-23-
**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WOMEN'S PRIZE TRUST**
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- we identified the laws and regulations applicable to the charity through discussions with management and trustees and from our professional and sector experience; and
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting documentation.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation; and
- reading the minutes of meetings of those charged with governance; and
- enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
-24-
REPORT OF THE INDEPENOENT AUDITORS TO THE MEMBERS OF
WOMEN'S PIUZE TRUST
Usè of ieport
This report is made sDlely to the choritable companvs members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Att 2006. Our audlt work h35 been undertaken so that we might state to the tharitable companvs
members those matter5 we are required to State to them in an auditors, report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and
the charitable com
embers as a body, f¢r OLtr audit work, for this report, or for the opinions we have forrned.
Mr Hayden
rie5t BEn8 BFP FCA Isenior Statutory AudStorl
for and on behalf of UHY Calvert Smith LLP
Statutory Audltor
Chartered Accountsnts
Heritage House
Murton Way
Osbaldwlck
York
North Yorkshire
Y019 SUW
Date:...
-25-
## **WOMEN'S PRIZE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
5
Commercial activities
Publishers' contributions
Sponsorship
Other trading activities
4
Other income
**Total**
**EXPENDITURE ON**
Raising funds
6
**Charitable activities**
7
Prize Trust
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**359,845**
**87,563**
**116,750**
**435,829**
**249**
**-**
**1,000,236**
**23,944**
**914,104**
**938,048**
**62,188**
**15,405**
**77,593**|Restricted
funds
£
**528,961**
**-**
**-**
-
**-**
**-**
**528,961**
**-**
**453,602**
**453,602**
**75,359**
**-**
**75,359**|**Period**
**1.7.24**
**to**
**31.8.25**
**Total**
**funds**
**£**
**888,806**
**87,563**
**116,750**
**435,829**
**249**
**-**
**1,529,197**
**23,944**
**1,367,706**
**1,391,650**
**137,547**
**15,405**
**152,952**|Year Ended
30.6.24
Total
funds
£
171,403
146,550
122,750
401,466
3,333
965
846,467
12,039
902,480
914,519
(68,052)
83,457
15,405|
|---|---|---|---|---|
The notes form part of these financial statements
-26-
## **WOMEN'S PRIZE TRUST**
## **BALANCE SHEET 31 AUGUST 2025**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
14
**1,081**
**CURRENT ASSETS**
Stocks
15
**16,198**
Debtors
16
**341,183**
Cash at bank
**2**
**357,383**
**CREDITORS**
Amounts falling due within one year
17
**(280,870)**
**NET CURRENT ASSETS**
**76,512**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**77,593**
**NET ASSETS/(LIABILITIES)**
**77,593**
**FUNDS**
18
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**-**
**948**
**74,410**
**75,358**
**75,359**
**75,359**
**75,359**|**2025**
**Total**
**funds**
**£**
**1,081**
**16,198**
**342,131**
**74,412**
**432,741**
**(280,870)**
**151,871**
**152,952**
**152,952**
**77,593**
**75,359**
**152,952**|2024
Total
funds
£
1,617
6,531
98,024
157,440
261,995
(248,207)
13,788
15,405
15,405
15,405
-
15,405|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 May 2026 and were signed on its behalf by:
~~............~~ ................................. 58450000-6A34-F6C7-E28F-08DEBB3D497F A M L Ollard - Trustee
The notes form part of these financial statements
-27-
## **WOMEN'S PRIZE TRUST**
## **CASH FLOW STATEMENT FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**Period**
**1.7.24**
**to**
Year Ended
**31.8.25**
30.6.24
**£**
£
**(83,028)**
7,362
**(83,028)**
7,362
**-**
(1,083)
**-**
(1,083)
**(83,028)**
6,279
**157,440**
151,161
**74,412**
157,440|
|---|---|
The notes form part of these financial statements
-28-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Increase in stocks
Increase in debtors
Increase in creditors
**Net cash (used in)/provided by operations**|**Period**
**1.7.24**
**to**
Year Ended
**31.8.25**
30.6.24
**£**
£
**137,547**
(68,052)
**536**
265
**(9,667)**
(6,531)
**(244,107)**
(61,497)
**32,663**
143,177
**(83,028)**
7,362|
|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.7.24|Cash flow|**At 31.8.25**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**157,440**|**(83,028)**|**74,412**|
||**157,440**|**(83,028)**|**74,412**|
|**Total**|**157,440**|**(83,028)**|**74,412**|
The notes form part of these financial statements
-29-
**WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **1. CHARITY INFORMATION**
Women's Prize Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 6 New Street, London, EC4A 3DJ.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Going concern basis**
The trustees have considered the financial position and projections of the charity, and have a reasonable expectation that it has adequate resources to support its ongoing activities for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
No amounts are included in the financial statements for general volunteer services.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Allocation and apportionment of costs**
Costs are directly allocated to charitable activities where possible. Support costs include central functions and overheads that assist the work of the charity. Support costs are allocated to charitable activities on a basis considered reasonable in the context of the relevant activity.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% straight line
continued...
-30-
**WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **2. ACCOUNTING POLICIES - continued**
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **3. DONATIONS AND LEGACIES**
|Donations
Gift aid
Grants|**Period**
**1.7.24**
**to**
Year Ended
**31.8.25**
30.6.24
**£**
£
**203,432**
166,403
**129,969**
-
**555,405**
5,000
**888,806**
171,403|
|---|---|
## **4.**
## **OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||**Period**||
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
||**£**|£|
|Other trading activities|**249**|3,333|
continued...
-31-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **5. INCOME FROM CHARITABLE ACTIVITIES**
||||**Period**|||
|---|---|---|---|---|---|
||||**1.7.24**|||
||||**to**||Year Ended|
||||**31.8.25**||30.6.24|
|||Activity|**£**||£|
||Sale of merchandise|Commercial activities|**18,202**||2,323|
||Income generating events|Income generating events|**69,361**||144,227|
||Publishers' contributions|Publishers' contributions|**116,750**||122,750|
||Sponsorship|Sponsorship|**435,829**||401,466|
||||**640,142**||670,766|
|**6.**|**RAISING FUNDS**|||||
||**Raising donations and legacies**|||||
||||**Period**|||
||||**1.7.24**|||
||||**to**||Year Ended|
||||**31.8.25**||30.6.24|
||||**£**||£|
||Other fundraising costs||**2,105**||3,593|
||**Other trading activities**|||||
||||**Period**|||
||||**1.7.24**|||
||||**to**||Year Ended|
||||**31.8.25**||30.6.24|
||||**£**||£|
||Opening stock||**6,531**||-|
||Closing stock||**(16,198)**||-|
||Sponsorship costs|||**-**|10,615|
||Merchandise||**31,506**||(2,169)|
||||**21,839**||8,446|
||Aggregate amounts||**23,944**||12,039|
continued...
-32-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|**7.**
**CHARITABLE ACTIVITIES COSTS**
Prize Trust
**8.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Awards ceremony
Judges costs
Winners' prizes
Podcast
Professional fees
Digital and social media
Events
Executive team
Content capture and creation
Sponsor appreciation, consultants, freelance support
Design and POS
Digital events
Travel and subsistence
Sundry
Hospitality
Depreciation
**9.**
**SUPPORT COSTS**
Prize Trust|Direct
Costs (see
note 8)
£
**1,296,206**
Other
£
**65,515**|Support
costs (see
note 9)
£
**71,500**
**Period**
**1.7.24**
**to**
**31.8.25**
**£**
**303,481**
**254,346**
**94,241**
**192,084**
**(346)**
**22,467**
**36,522**
**30,145**
**186,472**
**49,481**
**51,980**
**38,499**
**-**
**28,402**
**5,316**
**2,580**
**536**
**1,296,206**
Governance
costs
£
**5,985**|Totals
£
**1,367,706**
Year Ended
30.6.24
£
157,644
215,461
93,438
530
8,848
20,974
58,885
10,911
153,705
53,801
37,231
54,491
(750)
293
(88)
-
265
865,639
Totals
£
**71,500**|
|---|---|---|---|
continued...
-33-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **9. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Other**
|**Other**|||
|---|---|---|
||**Period**||
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
||Prize|Total|
||Trust|activities|
||**£**|£|
|Admin costs|**8,861**|**4,975**|
|Postage|**19,509**|**18,896**|
|Bank charges|**3,111**|**1,362**|
|Subscriptions|**31,568**|**8,907**|
|Insurance|**2,466**|**111**|
||**65,515**|**34,251**|
|**Governance costs**|||
||**Period**||
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
||Prize|Total|
||Trust|activities|
||**£**|£|
|Auditor's remuneration|**5,985**|**-**|
|Independent examiner's fees|**-**|**2,590**|
||**5,985**|**2,590**|
## **Governance costs**
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**Period**||
|---|---|---|
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
||**£**|£|
|Auditor's remuneration|**5,985**|-|
|Depreciation - owned assets|**536**|265|
|Independent examiner's fees|**-**|2,590|
continued...
-34-
**WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the period ended 31 August 2025 nor for the year ended 30 June 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the period ended 31 August 2025 nor for the year ended 30 June 2024.
## **12. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**Period**
**1.7.24**
**to**
Year Ended
**31.8.25**
30.6.24
**£**
£
**252,019**
147,677
**30,661**
7,775
**20,801**
2,192
**303,481**
157,644|**Period**
**1.7.24**
**to**
Year Ended
**31.8.25**
30.6.24
**£**
£
**252,019**
147,677
**30,661**
7,775
**20,801**
2,192
**303,481**
157,644|
|---|---|---|
|||157,644|
The average monthly number of employees during the period was as follows:
||**Period**||
|---|---|---|
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
|Employees|**5**|3|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**Period**||
|---|---|---|
||**1.7.24**||
||**to**|Year Ended|
||**31.8.25**|30.6.24|
|£70,001 - £80,000|**-**|1|
|£110,001 - £120,000|**1**|-|
||**1**|1|
The total employee benefits of the key management personnel of the group were £115,354 (2024 - £74,731). The key management personnel of the charity comprise the trustees and the Senior Management Team.
continued...
-35-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|**13.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
171,403
**Charitable activities**
Commercial activities
146,550
Publishers' contributions
122,750
Sponsorship
401,466
Other trading activities
3,333
Other income
965
**Total**
846,467
**EXPENDITURE ON**
Raising funds
12,039
**Charitable activities**
Prize Trust
902,480
**Total**
914,519
**NET INCOME/(EXPENDITURE)**
(68,052)
**RECONCILIATION OF FUNDS**
Total funds brought forward
83,457
**TOTAL FUNDS CARRIED FORWARD**
15,405|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-|Total
funds
£
171,403
146,550
122,750
401,466
3,333
965
846,467
12,039
902,480
914,519
(68,052)
83,457
15,405|
|---|---|---|
continued...
-36-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|**14.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 July 2024 and 31 August 2025
**DEPRECIATION**
At 1 July 2024
Charge for year
At 31 August 2025
**NET BOOK VALUE**
At 31 August 2025
At 30 June 2024
**15.**
**STOCKS**
Stocks
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Accrued income|Computer
equipment
£
**2,224**
**607**
**536**
**1,143**
**1,081**
1,617
**2025**
2024
**£**
£
**16,198**
6,531
**2025**
2024
**£**
£
**212,162**
71,813
**-**
24,933
**129,969**
1,278
**342,131**
98,024|
|---|---|
continued...
-37-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
VAT
Other creditors
Deferred income
Accrued expenses|**2025**
**£**
**95,278**
**5,039**
**19,589**
**872**
**50,000**
**110,092**
**280,870**|2024
£
232,158
5,537
-
1,330
-
9,182
248,207|
|---|---|---|
## **18. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Bukhman Philanthropies
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Bukhman Philanthropies
The Charlotte Aitken Trust
**TOTAL FUNDS**|At 1.7.24
£
**15,405**
**-**
**15,405**
Incoming
resources
£
**1,000,236**
**498,961**
**30,000**
**528,961**
**1,529,197**|Net
movement
in funds
£
**62,188**
**75,359**
**137,547**
Resources
expended
£
**(938,048)**
**(423,602)**
**(30,000)**
**(453,602)**
**(1,391,650)**|At
31.8.25
£
**77,593**
**75,359**
**152,952**
Movement
in funds
£
**62,188**
**75,359**
**-**
**75,359**
**137,547**|
|---|---|---|---|
continued...
-38-
## **WOMEN'S PRIZE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
## **18. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.7.23|in funds|30.6.24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|83,457|(68,052)|15,405|
|**TOTAL FUNDS**|83,457|(68,052)|15,405|
|Comparative net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|846,467|(914,519)|(68,052)|
|**TOTAL FUNDS**|846,467|(914,519)|(68,052)|
## **19. RELATED PARTY DISCLOSURES**
During the year, trustees and close family members made donations to the charity totalling £13,251 (2024: £7,606).
-39-
## **WOMEN'S PRIZE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Other trading activities**
Other trading activities
**Charitable activities**
Sale of merchandise
Publishers' contributions
Sponsorship
Income generating events
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Other fundraising costs
**Other trading activities**
Opening stock
Sponsorship costs
Merchandise
Closing stock
**Charitable activities**
Wages
Social security
Carried forward|Period
1.7.24
to
31.8.25
£
**203,432**
**129,969**
**555,405**
**888,806**
**249**
**18,202**
**116,750**
**435,829**
**69,361**
**640,142**
**-**
**1,529,197**
**2,105**
**6,531**
**-**
**31,506**
**(16,198)**
**21,839**
**252,019**
**30,661**
**282,680**|Year Ended
30.6.24
£
166,403
-
5,000
171,403
3,333
2,323
122,750
401,466
144,227
670,766
965
846,467
3,593
-
10,615
(2,169)
-
8,446
147,677
7,775
155,452|
|---|---|---|
This page does not form part of the statutory financial statements
-40-
## **WOMEN'S PRIZE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2024 TO 31 AUGUST 2025**
|**Charitable activities**
Brought forward
Pensions
Awards ceremony
Judges costs
Winners' prizes
Podcast
Professional fees
Digital and social media
Events
Executive team
Content capture and creation
Sponsor appreciation, consultants, freelance
support
Design and POS
Digital events
Travel and subsistence
Sundry
Hospitality
Computer equipment
**Support costs**
**Other**
Admin costs
Postage
Bank charges
Subscriptions
Insurance
**Governance costs**
Auditor's remuneration
Independent examiner's fees
Total resources expended
**Net income/(expenditure)**|Period
1.7.24
to
31.8.25
£
**282,680**
**20,801**
**254,346**
**94,241**
**192,084**
**(346)**
**22,467**
**36,522**
**30,145**
**186,472**
**49,481**
**51,980**
**38,499**
**-**
**28,402**
**5,316**
**2,580**
**536**
**1,296,206**
**8,861**
**19,509**
**3,111**
**31,568**
**2,466**
**65,515**
**5,985**
**-**
**5,985**
**1,391,650**
**137,547**|Year Ended
30.6.24
£
155,452
2,192
215,461
93,438
530
8,848
20,974
58,885
10,911
153,705
53,801
37,231
54,491
(750)
293
(88)
-
265
865,639
4,975
18,896
1,362
8,907
111
34,251
-
2,590
2,590
914,519
(68,052)|
|---|---|---|
This page does not form part of the statutory financial statements
-41-