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2024-12-31-accounts

AUTHORS’ AWARDS AND ADVANCEMENT TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE

YEAR ENDED 31 DECEMBER 2024

CHARITY No. 1182586

AUTHORS’ AWARDS AND ADVANCEMENT

Charity Information

Trustees The Society of Authors
Andrew Subramaniam (Chair)
(appointed 7 May 2024)
Naresh Shah (resigned 18 January
2024)
Sarah Olex
Zoey Forbes
Owen Atkinson
Charity Number 1182586
Charity Offices c/o The Society of Authors
24 Bedford Row
London WC1R 4EH
Independent Examiner Simon Goodridge FCA
Knox Cropper LLP
Chartered Accountants
65 Leadenhall Street
London EC3A 2AD
Bankers HSBC
The Peak
333 Vauxhall Bridge Road
Victoria
London SW1V 1EJ
Investment Managers LGT Wealth Management
14 Cornhill
London
EC3V 3NR

AUTHORS’ AWARDS AND ADVANCEMENT

Contents

Page
Trustees' Report 1 - 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 – 19

REPORT OF THE TRUSTEES OF THE AUTHORS’ AWARDS AND ADVANCEMENT

YEAR ENDED 31 DECEMBER 2024

The Trustees present their report and financial statements for the year ended 31[st] December 2024. The Trustees have adopted the provisions of the 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) (second edition effective 1 January 2019).

Trustees

The Trustees of the charity throughout the year and up to the date of approval of these financial statements were:

The Society of Authors Andrew Subramaniam (Chair) (Appointed 7 May 2024) Naresh Shah (resigned 18 January 2024) Sarah Olex Zoey Forbes Owen Atkinson

Constitution, objects and policies

The charity is a charitable incorporated organisation (CIO) that was registered as a charity on 21 March 2019. The charity’s objects are restricted specifically to promote the art of literature for the benefit of the public by:

  1. the establishment, support, maintenance and award of prizes;

  2. the provision of advice, training, coaching and mentoring to new authors, unpublished authors, literary executors and beneficiaries and by engaging in or supporting relevant research and ensuring that the useful results of such research are disseminated to the public; and

  3. the relief of authors suffering financial hardship.

Public Benefit

In reviewing the charity’s aims and objectives and in planning future activities, the Trustees refer to the Charity Commission’s general guidance on public benefit.

Achievements and Performance

The charity has undertaken the following activities during 2024.

The Gordon Bowker Volcano Prize

This prize was set up in memory of Malcolm Lowry and endowed by Gordon Bowker, his biographer, and Ramdei Bowker. Inspired by Malcolm Lowry’s novel, Under the Volcano and in celebration of its author, the prize aims to inspire literary excellence and encourage writers to travel and to write from the resulting experience. This is the third year for the prize and submission this year were up 12% on the previous year. The prize was judge by three independent judges and feedback from one of the judges was as follows:

‘This year’s Gordon Bowker Volcano Prize shortlist is a treasure trove of wonderous storytelling from four writers who know that the personal is the political. Soula Emmanuel’s Copenhagen-based Wild Geese is observant and poetic. Wandering Souls by Cecile Pin journeys from Vietnam to London, reminding us of the suffering caused by the loss of one’s sense of place and belonging. Santanu Bhattacharya’s India-set One Small Voice triumphs the resilience of the human spirit from beginning to end. And Isabella Hammad’s Palestine-focussed Enter Ghost comments on the nature of resistance with care and poise. These books should be cherished for their social and political insights as well as for the splendour of their prose. Kerry Young , 2024 Gordon Bowker Volcano Prize judge

The prize winner was Soula Emmanuel for Wild Geese (Footnote Press)

The runner up was Cecil Pin for Wandering Souls (HarperCollins UK, 4th Estate)

The shortlist for the prize was announced on 22 May 2024 and was picked up by trade publication The Bookseller, Writing.ie, The Journal of African Youth Literature, Bookbrunch, and Publishing Perspectives. The announcement garnered over 20.4K views on X and reached just under 4K on Instagram.

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The prize was awarded at the SoA Awards Ceremony on 20 June 2024 in front of hundreds of members live at Southwark Cathedral. The event was also live streamed and winner announcement was picked up by The Bookseller, The Reading Agency, LoveReading, TheatreFullStop, BookBrunch, Publishing Perspectives and Brunel University London.

ADCI prize

The ADCI (Authors with Disabilities and Chronic Illnesses) Literary prize was launched in 2022 and seeks to encourage greater positive representation of disability in literature.

Founded by author Penny Batchelor and publisher Clare Christian together with the Society of Authors, the prize is generously sponsored by Arts Council England, ALCS, the Drusilla Harvey Memorial Fund, and the Professional Writing Academy.

Open to authors with a disability and/or chronic illness, the prize will call for entries of novels which include a disabled or chronically ill character or characters. The ADCI Literary Prize has a prize fund of £2,000. This was the second year for this prize and feedback from one of the seven judges was as follows:

“The books we have chosen to celebrate this year are stealthy books; they sneak into one’s consciousness with the nous of stray cats, creeping along the walls until they emerge to rub against you. Then, all of a sudden, their claws are in and you can’t forget them. Disabilities and chronic illnesses are handled with nary a hint of sensationalism, and it is storytelling that wins, giving insights into worlds that many people do not encounter regularly. There was a range of compelling books in the reading we did for the competition, but the two books we have chosen to celebrate are not only works of fine, restrained prose, they are haunting, they are books of remarkable ambition, they are books that will stay with their readers.” Nii Ayikwei Parkes , 2024 ADCI Literary Prize judge

The winner was Lorraine Wilson for Mother Sea (Fairlight Books)

The runner up was Viktoria Lloyd-Barlow for All the Little Bird Hearts (Tinder Press, Headline)

The shortlist for the prize was announced on 22 May 2024 and was picked up by trade publication The Bookseller, Writing.ie, The Journal of African Youth Literature, Bookbrunch, and Publishing Perspectives. The announcement garner over 20.4K views on X and reached just under 4K on Instagram.

The prize was awarded at the SoA Awards Ceremony on 20 June 2024 in front of hundreds of members live at Southwark Cathedral. The event was also live streamed and winner announcement was picked up by The Bookseller, The Reading Agency, LoveReading, TheatreFullStop, BookBrunch, Publishing Perspectives and Brunel University London.

The Paul Torday Memorial Prize

The grant from Hawthornden Foundation enabled this prize for 2024. This prize continues to directly benefit older writers as well as increasing the overall reach and discoverability of these writers.

So many people begin to write after retiring from other careers and this prize recognises the maturity and life experience that older writers can bring, yet publishers and agents continue to be reluctant to take a risk on older debut novelist. This prize continues to increase their reach and discoverability.

The winner Jacqueline Crooks for Fire Rush (Jonathan Cape, Vintage) has benefited from the increased £3,000 prize monies and media coverage from the Society of Authors’ Awards Ceremony.

The runner up: Fran Hill for Cuckoo in the Nest (Legend Press) has also benefited from the media coverage of the Society of Authors’ Awards Ceremony as did the three shortlisted authors:

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The prize fund also contributed directly to the fees for the three independent judges.

The shortlists were announced on 22 May 2024 on the SoA website and on social media. The story was picked up by trade publication The Bookseller, Writing.ie, The Journal of African Youth Literature, Bookbrunch, and Publishing Perspectives.

The prize was awarded at the SoA Awards Ceremony on 20 June 2024 in front of hundreds of members live at Southwark Cathedral. The event was also live streamed and winner announcement was picked up by The Bookseller, The Reading Agency, LoveReading, TheatreFullStop, BookBrunch, Publishing Perspectives and Brunel University London.

The Translation Prizes

The charity has continued to run translation prizes due to generous grants and sponsorship from the following individuals and organisations:

This funding has enabled the following prizes to be run as part of the SoA Translation Awards in 2024:

All the above prizes were celebrated as part of the SoA Translation Awards with 41 shortlisted works across eight prizes with a prize fund of over £30,000.

This year saw the first translation from Eastern Armenian to win a prize at the awards, with Deanna CachoianSchanz and editor Tatiana Ryckman taking home the TA First Translation Prize for A Book, Untitled by Shushan Avagyan.

Prizes were also awarded for translations into English from Italian, French, Spanish, German, Arabic, Japanese and Dutch.

Other winners include Jenny McPhee for her ‘patient and imaginative’ translation from Italian of Lies and Sorcery by Elsa Morante and Masaya Saito for his ‘sparkling’ translation from Japanese of The Kobe Hotel: Memoirs by Sanki Saitō.

The 2024 Great Britain Sasakawa Foundation (GBSF) Prize increased by 19% from its first year and the TA First Translation Prize also saw a boost in submissions by 5%.

The shortlists were announced on 2 December 2024 on the SoA website and on social media. The story was picked up by trade publications The Bookseller and Book Brunch. Engagement was good across socials, with the general announcement seeing a reach of 11.8kk on X/Twitter (including 41 retweets and 81 likes) and the Scott Moncrieff announcement also enjoying high numbers with reach of 6.2k (13 retweets and 37 likes).

The Society of Authors’ annual Translation Awards on Wednesday 12 February 2025 was once again hosted in the British Library’s Knowledge Centre. Ten literary translators and one editor shared a prize fund of £30,000.

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The evening was hosted by Ian Giles, Chair of the Translators Association, and featured live readings and prerecorded acceptance videos. The winning translation of the TA First Translation Prize, the first from Eastern Armenian to win the award, was a particular highlight, celebrated with a joyous video from Deanna CachoianSchanz and Tatiana Ryckman, the translator and editor, who couldn’t make it in person.

The full list of winners was announced on the morning of the ceremony, and we celebrated the shortlisted translators and editors in December.

Access Fund

This fund gives grants to authors support for travel, subsistence, childcare or access needs for events, residencies, and retreats.

Usual grants will be £150 or less, but fair consideration will be given to all proposals. Applicants may only apply for one grant per calendar year and preference will be given to those who have not received funds previously.

In 2024 the Access Fund gave out 46 grants paying out just over £11K to authors for travel to events and retreats, and access to the writing community.

The average grant was just over £240 and the success rate for the fund overall was 77%.

Some of the feedback was as follows:

My residency was incredible - 3 days of intense focus . Thank you for making it possible, I am very grateful. I feel confident of how to manage the spoken word commission and have material worked up to learn for the performances, it was really productive and fun to be in residence around the theatre. I met the programmers there who want to do a catch up with me next week.

I am hugely grateful for your support of one of the most exciting and fulfilling weeks I have ever experienced. My time in Norway was exceptionally inspiring. I travelled by train from Oslo to Lønsdal, above the Arctic Circle, and from there I was taken to Trygvebu hiking cabin, where I stayed and wrote a poem sequence. […] I am proud of the work I’ve produced for this project, and could not have done the journey without your help. Thank you so much for your wonderful support.

Strachey Trust Grants

Thanks to generous grant from the Strachey Trust the charity has been able to give grants to enable authors to access literary manuscripts.

Strachey Trust Grants up to £500 are available to authors wishing to travel to a UK archive or collection to research manuscript material, for a specific full-length literary project which has a strong likelihood of publication.

By ‘manuscripts’ we mean any letter, diary or other unpublished matter appertaining to a person of note, including a photographic or digitized copy of such material. In 2024 the Strachey Trust gave out 10 grants paying out just over £3k to authors for travel to archives and access to manuscripts.

The average grant was just over £300 and the success rate for the fund overall was 90%.

Feedback from recipients across 2024:

‘My utmost thanks go to you for this, I am very grateful indeed. I will of course include Strachey Trust and the Society of Authors in the acknowledgements of the book when published in 2026.’

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Human Library Partnership

The Hawthornden Foundation grant enabled the final two Human Library Conversation Cafes to take place in 2024, which reached nearly 60 individuals, enabling these individuals to have one or more conversations with a human ‘Book’. As these ‘books’ are drawn from groups in society that are stigmatised or stereotyped, marginalised, mistreated or misunderstood from race to religion or refugees, disability to discrimination, GBT to mental health and more, these confidential conversations help to create open dialogue and to breakdown stereotypes and prejudices.

Outreach in Northern Ireland

Thanks to the generous grant from Hawthornden Foundation, a part time Senior Policy and Liaison Manager for Northern Ireland was employed to undertake policy and lobbying work. It also funded a series of professional development events for members and non-members, including a hybrid one-day conference in 2024 on ‘Surviving as an Author’. This hybrid conference took place at the Crescent Arts Centre in Belfast and online.

The hybrid conference comprised of the following panels:

The conference reached over 100 writers with 63 attending in person and 40 watching the live stream. Feedback from conference attendees was over 70% rated the conference as excellent with another 16% rating the conference as very good.

Feedback from the conference included the following:

‘The entire organisation was excellent. Speakers excellent. Format excellent. Info excellent. Opportunity to network excellent. Venue perfect. Final presentation - top rate & entertaining.’

‘Inspiring! And a real step in community building’

‘Good range of speakers with useful and encouraging insights into writing for a living’.

‘I really appreciate the fact that the conference was online. This meant I could attend which might not have been possible and would certainly have required much more planning and inconvenience to attend in person.’

‘Good balance of participants and topics. Relaxed and informative format’

The was also an online professional development event: ‘Promoting yourself as an Author’ which was attended by 113 individuals.

Outreach Scotland Events

Again, thanks to the generous support of Hawthornden Foundation a week the charity was able to support Moniack Mhor to put on ‘The Life of a Book’ in May 2024 aimed at developing authors. This week of activities reached over 235 emerging writers and engaged 20 writers and industry professional. The hybrid panels (with attendance numbers) were as follows:

Alongside the hybrid panels there were evening 1-2-1 surgeries on each topic, and these were attended by 43 individuals.

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Some of the feedback received was as follows:

Adventures in Radio

In 2024 the Hawthornden Foundation grant was used to record the two final episodes of a podcast series that aims to help writers who are new to the medium of audio drama.

The series was designed by a member of the Society of Authors Scriptwriting Group (Barney Norris) to encourage writers to consider the medium of audio drama to enhance their writing career. All six episodes featuring interviews with audio drama writers were released in 2024. The last two episodes recorded were:

Listening stats by episode for the podcasts were as follows:

The podcasts generated the following press coverage . Bookseller:

https://www.thebookseller.com/news/soa-launches-podcast-channel-alongside-new-series-on-audiodrama

Society of Authors to launch a podcast channel, SoA Sounds, with new series about audio drama – The Society of Authors

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Imison Award

The Imison Award was established in 1994 in memory of Richard Imison, a BBC script editor and producer, to acknowledge the encouragement, support and friendship he invariably gave to all writers, particularly those working in the medium of radio. It celebrates the best original audio drama script by a writer new to the medium which has been broadcast or made available online in the UK over a 13-month period.

The award brings recognition, financial support and opportunity to writers of audio drama whose work is often undervalued and rarely recognised by public awards. The Imison Award celebrates the quality and breadth of talent in radio scriptwriting and encourages new writers to radio, expanding the pool of writing talent available to commissioners and driving audience growth.

The award was presented as part of the BBC Audio Drama Awards on 30 March 2025 in the Radio Theatre in BBC Broadcasting House in which to recognise and encourage the highest standards in audio drama. The submission for the award increased by over 100%.

The winner of the award was Isley Lynn for ‘Tether’ about Becky, a blind marathon runner and her relationship with her guide as they train for the Paralympics. The Imison award was presented by actor, and playwright, Paterson Joseph.

Planned activity for 2025

The charity will be continuing with the following projects for 2025.

In 2025 we are pleased to also announce the addition of a new translation prize The John Calder Translation Prize, which has been generously sponsored by Sheila Colvin-Calder and Alma Books.

Sheila Colvin has spent most of her working life in the arts. She worked at the Edinburgh International Festival for ten years, ultimately becoming its first Associate Director. She acted as General Manager of Aldeburgh Foundation (now Britten Pears Arts) and was a founder member of the Traverse Theatre, Edinburgh.

Alma Books

Alma Books was set up in October 2005 by Alessandro Gallenzi and Elisabetta Minervini, the founders of Hesperus Press. Following its takeover of the Oneworld Classics list in February 2012, it now publishes around forty new titles a year, mainly in the field of classics. Alma takes around forty per cent of its titles from English-language originals, while the rest are translations from French, Spanish, Italian, Russian and other languages. Alma Books includes the following imprints: Alma Books, Alma Classics, Overture (music imprint) and Calder Publications (founded 1950). The backlist comprises over 800 titles. Alma counts a dozen Nobel-Prize winners in its list and many more British and international award-winning authors and translators.

The John Calder Translation Prize will be annual award for translations into English of full-length ambitious, groundbreaking works of literary merit and general interest. The winner is awarded £3,000 and a runner-up is awarded £1,000.

The aim of the John Calder Translation Prize is to celebrate new and ambitious translations into English of fulllength works (fiction, non-fiction and poetry) which are distinguished by the highly personal and imaginative approach of the authors to their subject. Submissions can be from any language into English.

Throughout the second half of the twentieth century, John Calder was known as one of the pre-eminent Englishlanguage publishers of exciting, avant-garde literature, and was a trailblazing proponent of fiction in translation, as well as a champion of the free word and a staunch promoter of authors who were suppressed or discriminated for political or other reasons. Under his stewardship, his publishing house brought out novels, plays and poetry

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by such literary luminaries as Samuel Beckett, Henry Miller, William Burroughs, Louis-Ferdinand Céline, Raymond Queneau, Alain Robbe-Grillet, Marguerite Duras, Nathalie Sarraute, Claude Simon, Robert Pinget and many others.

Reserves Policy

The Trustees policy is to operate on the basis of being able to continue to generate sufficient incoming resources to use toward meeting their charitable objectives and to accord with their principal terms. The Trustees are of the opinion that the funds remain sufficient to enable them to continue this ongoing objective. The charity has sufficient but not excessive funds to service its objective of making future charitable distributions.

Financial Review

The results for the year ended 31[st] December 2024 are attached and show a Net increase in funds of £21,606 (2023: £94,689 decrease) after investment gains and losses. The grants and awards paid during the year were £81,643 (2023: £42,884) and other expenditure amounted to £102,704 (2023: £141,761). The capital movement on Unrestricted investments consisted of unrealised gains in market value of £27,355 (2023: £25,397 gain).

Total Funds carried forward at the year-end stand at £744,695 (2023: £723,089) including Restricted funds amounting to £65,389 (2023: £170,297) and Designated funds amounting to £332,686 (2023: £346,869). The Trustees consider that the charity has sufficient income and capital to meet its obligations in the foreseeable future.

Statement of Trustees' Responsibilities

The Trustees 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), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

The law applicable to charities in England and Wales, the Charities Act 2011, 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 charity and of its incoming resources and application of resources for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document of the CIO. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the board of Trustees on and signed on their behalf by: 10/07/25

Andrew Subramaniam

Andrew Subramaniam (Jul 10, 2025 08:18 GMT+1)

Andrew Subramaniam – Chair of Trustees

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AUTHORS’ AWARDS AND ADVANCEMENT

YEAR ENDED 31[st] DECEMBER 2024

Independent Examiner’s Report to the Trustees of Authors’ Awards and Advancement

I report to the trustees on my examination of the accounts of the CIO for the year ended 31[st] December 2024.

Responsibilities and basis of report

As the trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). The Trustees are satisfied that that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.

I report in respect of my examination of the CIO’s accounts as required under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in any material aspect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon Goodridge FCA Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Date: 10/07/25

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AUTHORS’ AWARDS AND ADVANCEMENT

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31[st] DECEMBER 2024

Notes
Income from
Grants, donations and
legacies
2
Investment income
3
Total incoming
resources
Expenditure on
Cost of generating funds
Investment Management
Fees
Charitable activities
4
Total resources
expended
Net
income/(expenditure)
before investment
gains/(losses)
Net gains/(losses) on
Investments
6
Net
income/(expenditure)
Reconciliation of
funds:
Total
funds
brought
forward
Total
funds
carried
forward		 Unrestricted
Restricted
Total
General
Funds
Designated
Funds
Funds
2024
£
£
£
£
120,000
-
35,471
155,471
12,479
10,648
-
23,127
132,479
10,648
35,471
178,598
2,163
2,143
-
4,306
2,581
37,081
140,379
180,041
4,744
39,224
140,379
184,347
127,735
(28,576)
(104,908)
(5,749)
12,962
14,393
-
27,355
140,697
(14,183)
(104,908)
21,606
205,923
346,869
170,297
723,089
£346,620
£332,686
£65,389
£744,695		 Total
2023
£
45,372
19,187
64,559
3,235
181,410
184,645
(120,086)
25,397
(94,689)
817,778
£723,089

The notes form part of these Financial Statements

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AUTHORS’ AWARDS AND ADVANCEMENT

BALANCE SHEET

31[st] DECEMBER 2024

Notes
FIXED ASSETS
Quoted Investments at Market Value
5
CURRENT ASSETS
Debtors
7
Cash held by investment managers
Cash at bank
CURRENT LIABILITIES
Amounts due within one year
8
Net Current Assets
TOTAL NET ASSETS
11
Represented by:
ACCUMULATED FUNDS
Unrestricted Funds
General
10
Designated funds
10
Restricted Funds
9
TOTAL FUNDS		 2024
£
£
696,581
5,925
25,705
48,971
80,601
(32,487)
48,114
£744,695
346,620
332,686
679,306
65,389
£744,695		 2023
£
£
523,337
9,125
35,074
231,240
275,439
(75,687)
199,752
£723,089
205,923
346,869
552,792
170,297
£723,089		 2023
£
£
523,337
9,125
35,074
231,240
275,439
(75,687)
199,752
£723,089
205,923
346,869
552,792
170,297
£723,089
£723,089
552,792
170,297
£723,089

The notes form part of these Financial Statements

Approved by the Trustees on and signed on their behalf by: 10/07/25

Andrew Subramaniam

Andrew Subramaniam (Jul 10, 2025 08:18 GMT+1)

Andrew Subramaniam – Chair of Trustees

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AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

1. ACCOUNTING POLICIES

Designated funds are unrestricted funds set aside by Trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purpose.

The Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

2. GRANTS AND DONATIONS

TA First Translation
ADCI Prize
Strachey Trust
Amazon
Drusilla Harvey
Access Fund
Gift aid on donations
Other Translation
income		 2024
General
2024
Designated
2024
Restricted
Total
2024
Total
2023
£
£
£
£
£
-
-
-
-
8,650
-
-
2,000
2,000
-
-
-
5,000
5,000
-
-
-
15,000
15,000
15,000
120,000
-
-
120,000
-
-
-
2,621
2,621
5,634
-
-
-
-
2,388
-
-
10,850
10,850
13,800
£120,000
£-
£35,471
£155,471
£45,372

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AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

2. GRANTS AND DONATIONS (continued)

Prior year
2023 2023 2023 Total
General Designated
Restricted		 2023
£ £ £ £
TA First Translation - - 8,650 8,650
Amazon - - 15,000 15,000
Access Fund - 5,634 - 5,634
Gift aid on donations - 125 2,163 2,388
Other Translation income - - 13,800 13,800
£- £5,759 £39,613 £45,372
3.
INVESTMENT INCOME
2024 2024 2024 Total Total
Unrestricted
Designated
Restricted
2024		 2023
£ £ £ £ £
NON GOVERNMENT BOND FUNDS
Volare Global Fixed
Interest Offshore
Fund Z Income 1,387 1,310 -
2,697		 2,770
Volare Sterling Fixed
Interest Offshore
Fund Z 1,312 1,284 -
2,596		 1,921
MULTI ASSET CHARITY INVESTMENT FUNDS
Volare Income
Offshore Fund Z 6,999 7,766 -
14,765		 13,388
Bank interest 2,781 288 - 3,069 1,108
£12,479 £10,648 £- £23,127 £19,187
Prior year
2023 2023 2023 Total
Unrestricted Designated Restricted 2023
£ £ £ £
NON GOVERNMENT BOND FUNDS
Volare Global Fixed
Interest Offshore Fund Z
Income 1,153 1,617 - 2,770
Volare Sterling Fixed
Interest Offshore Fund Z
Income 777 1,144 - 1,921
MULTI ASSET CHARITY INVESTMENT FUNDS
Volare Income Offshore
Fund Z 4,805 8,583 - 13,388
Bank interest 867 241 - 1,108
£7,602 £11,585 £- £19,187

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AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

4. CHARITABLE ACTIVITIES

Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
Direct
Awards and Grants paid
-
11,772
69,871
81,643
42,884
Indirect
Administration costs
-
15,066
29,514
44,580
44,650
Project fees (including
judges, freelancers)
-
3,000
34,076
37,076
82,445
Awards Ceremony
Contribution
-
4,800
6,918
11,718
7,200
Other Expenses
793
511
-
1,304
1,231
Governance
Independent examination fee
1,788
1,932
-
3,720
3,000
£2,581
£37,081
£140,379
£180,041
£181,410
Prior year
Unrestricted
Designated
Restricted
Total
2023
£
£
£
£
Direct
Awards and Grants paid
-
15,384
27,500
42,884
Indirect
Administration costs
-
15,575
29,075
44,650
Project fees (including judges,
freelancers)
-
3,000
79,445
82,445
Awards Ceremony Contribution
-
4,800
2,400
7,200
Other Expenses
1,231
-
-
1,231
Governance
Independent examination fee
1,110
1,890
-
3,000
£2,341
£40,649
£138,420
£181,410
5. INVESTMENTS
2024
Cost
Market
value
NON GOVERNMENT BOND FUNDS
£
£
Volare Global Fixed Interest Offshore Fund Z Income
70,043
63,888
Volare Sterling Fixed Interest Offshore Fund Z
71,813
64,257
MULTI ASSET CHARITY INVESTMENT FUNDS
Volare Income Offshore Fund Z
546,166
568,436
Totals at – 31 December 2024
£688,022
£696,581
31 December 2023
£542,134
£523,337		 Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
-
11,772
69,871
81,643
42,884
-
15,066
29,514
44,580
44,650
-
3,000
34,076
37,076
82,445
-
4,800
6,918
11,718
7,200
793
511
-
1,304
1,231
1,788
1,932
-
3,720
3,000		 Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
-
11,772
69,871
81,643
42,884
-
15,066
29,514
44,580
44,650
-
3,000
34,076
37,076
82,445
-
4,800
6,918
11,718
7,200
793
511
-
1,304
1,231
1,788
1,932
-
3,720
3,000		 Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
-
11,772
69,871
81,643
42,884
-
15,066
29,514
44,580
44,650
-
3,000
34,076
37,076
82,445
-
4,800
6,918
11,718
7,200
793
511
-
1,304
1,231
1,788
1,932
-
3,720
3,000		 Unrestricted
Designated
Restricted
Total
2024
Total
2023
£
£
£
£
£
-
11,772
69,871
81,643
42,884
-
15,066
29,514
44,580
44,650
-
3,000
34,076
37,076
82,445
-
4,800
6,918
11,718
7,200
793
511
-
1,304
1,231
1,788
1,932
-
3,720
3,000
£2,581
£37,081
£140,379
£180,041
£181,410
Unrestricted
Designated
£
£
-
15,384
-
15,575
-
3,000
-
4,800
1,231
-
1,110
1,890		 Restricted
Total
2023
£
£

27,500
42,884

29,075
44,650

79,445
82,445

2,400
7,200

-
1,231

-
3,000
£2,341
£40,649
£138,420
£181,410
2024
Cost
Market
value
£
£
70,043
63,888
71,813
64,257
546,166
568,436
£688,022 £696,581
£542,134 £523,337

5. INVESTMENTS

14

AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

6. INVESTMENT MOVEMENTS

Cost
Cost at 1 January 2024
Additions
Volare Income Offshore Fund Z
Volare Global Fixed Interest Offshore Fund Z
Income
Volare Sterling Fixed Interest Offshore Fund Z
Income
Cost at 31 December 2024
Market value
Market Value at the beginning of the year
Additions
Investment Gains/(losses)
Market Value at End of Year
Unrealised gains/(losses)
7. DEBTORS
Grants receivable
8. CREDITORS AND ACCRUALS
Investment Management Fees
Professional Fees
Accruals		 2024
2023
£
£
£
£
542,134
542,134
115,589
-
13,781
-
16,518
-
145,888
-

£688,022
£542,134
2024
2023
£
£
£
£
523,337
497,940
145,889
-
27,355
25,397
173,244
25,397

£696,581
£523,337
27,355
25,397

£27,355
£25,397
2024
2023
£
£
5,925
9,125
£5,925
£9,125
2024
2023
£
£
1,057
848
3,120
3,000
28,310
71,839
£32,487
£75,687		 2024
2023
£
£
£
£
542,134
542,134
115,589
-
13,781
-
16,518
-
145,888
-

£688,022
£542,134
2024
2023
£
£
£
£
523,337
497,940
145,889
-
27,355
25,397
173,244
25,397

£696,581
£523,337
27,355
25,397

£27,355
£25,397
2024
2023
£
£
5,925
9,125
£5,925
£9,125
2024
2023
£
£
1,057
848
3,120
3,000
28,310
71,839
£32,487
£75,687		 2024
2023
£
£
£
£
542,134
542,134
115,589
-
13,781
-
16,518
-
145,888
-

£688,022
£542,134
2024
2023
£
£
£
£
523,337
497,940
145,889
-
27,355
25,397
173,244
25,397

£696,581
£523,337
27,355
25,397

£27,355
£25,397
2024
2023
£
£
5,925
9,125
£5,925
£9,125
2024
2023
£
£
1,057
848
3,120
3,000
28,310
71,839
£32,487
£75,687
£523,337
25,397
£25,397
2023
£
9,125
£9,125
2023
£
848
3,000
71,839
£75,687

15

AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

9. RESTRICTED FUNDS

TA Translation Prize
Hawthornden Foundation
ADCI Prize
The Strachey Trust Grants
Access Fund
Other Translation Prizes
Total		 Balance at
1 January
2024
Income
Expenditure
Balance at
31 December
2024
£
£
£
£
11,411
-
(2,000)
9,411
122,760
-
(89,876)
32,883
12,470
2,000
(13,265)
1,205
-
5,000
(4,249)
751
-
2,621
(2,621)
-
23,656
25,850
(28,368)
21,139
£170,297
£35,471
£(140,379)
£65,389

The restricted income has been received to support Prizes and other projects.

Hawthornden Foundation restricted funds are to support the Paul Torday Memorial Prize, the Translation Prizes and the Imison Award as well as a number of other projects.

Prior year

TA Translation Prize
Hawthornden Foundation
ADCI Prize
Other Translation Prizes
Total		 Balance at
1 January
2023
Income
Expenditure
Balance at
31 December
2023
£
£
£
£
2,098
10,813
(1,500)
11,411
228,271
-
(105,511)
122,760
23,735
-
(11,265)
12,470
15,000
28,800
(20,144)
23,656
£269,104
£39,613
£(138,420)
£170,297

16

AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

10. UNRESTRICTED FUNDS

Designated Funds
Volcano Prize
ADCI Prize
DH Access Grants
General Fund
Prior year
Designated Funds
Volcano Prize
ADCI Prize
DH Access Grants
General Fund
1.
NET ASSETS
Fixed investments
Net current assets
Prior year
Fixed investments
Net current assets		 Balance at
1 January
2024
Income
Expenditure
Investment
Gains/
(Losses)
£
£
£
£
318,200
10,648
(25,937)
14,393
8,995
-
(3,665)
-
19,674
-
(9,622)
-		 Balance at
1 January
2024
Income
Expenditure
Investment
Gains/
(Losses)
£
£
£
£
318,200
10,648
(25,937)
14,393
8,995
-
(3,665)
-
19,674
-
(9,622)
-		 Balance at
31 December
2024
£
317,304
5,330
10,052
346,869
205,923		 10,648
(39,224)
14,393
132,479
(4,744)
12,962		 332,686
346,620
£552,792 £143,127
£(43,968)
£27,355		 £679,306
Balance
at 1
January
2023
£
315,839
13,170
27,150		 Income
Expenditure
Investment
Gains/
(Losses)
£
£
£
11,585
(25,274)
16,049
-
(4,175)
-
5,759
(13,235)
-		 Balance at
31
December
2023
£
318,200
8,995
19,674
356,159
192,515		 17,344
(42,683)
16,049
7,602
(3,542)
9,348		 346,869
205,923
£548,674 £24,946
£(46,225)
£25,397		 £552,792
Unrestricted
General
Designated
Restricted
£
£
£
332,204
364,377
-
14,416
(31,691)
65,389
346,620
332,686
65,389
Unrestricted
General
Designated
Restricted
£
£
£
192,882
330,455
-
13,041
16,414
170,297
£205,923
£346,869
£170,297		 2024
Total
£
696,581
48,114
£744,695
2023
Total
£
523,337
199,752
£723,089

11. NET ASSETS

17

AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

12. TRUSTEES REMUNERATION

No Trustee received any remuneration in respect of their services as trustees during the year (2023: £0). No Trustees were reimbursed for our of pocket travelling expenses in the year (2023: none).

13. RELATED PARTY DISCLOSURES

The Society of Authors, which is a corporate Trustee of the charity, carried out management services for the charity and charged a management fee for the year amounting to £44,580 (2023: £44,650). In addition, the charity reimbursed The Society of Authors for costs totalling £8,909 (2023: £55,119) incurred on behalf of the charity.

With the agreement of the funder, £34,000 of the unspent balance of the Hawthornden Foundation restricted fund was regranted to The Authors Contingency Fund, another charity administered by The Society of Authors, which shares Trustees with the charity.

The Society of Authors is a Corporate trustee of both The Authors’ Awards and Advancement and The Strachey Trust. The Strachey Trust granted £5,000 (2023: Nil) to the charity for travel grants to a UK archive or collection for research manuscript material. This £5,000 was to cover both the grants and the set up and administration

There were no other related party transactions in the year.

18

AUTHORS’ AWARDS AND ADVANCEMENT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Income from
Grants, donations and legacies
Investment income
Total incoming resources
Expenditure on
Cost of generating funds
Investment Management Fees
Charitable activities
Total resources expended
Net income/(expenditure)
before investment gains/(losses)
Net gains/(losses) on
Investments
Net income/(expenditure)
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
General
Funds
Designated
Funds
Funds
2023
£
£
£
£
-
5,759
39,613
45,372
7,602
11,585
-
19,187
7,602
17,344
39,613
64,559
1,201
2,034
-
3,235
2,341
40,649
138,420
181,410
3,542
42,683
138,420
184,645
4,060
(25,339)
(98,807)
(120,086)
9,348
16,049
-
25,397
13,408
(9,290)
(98,807)
(94,689)
192,515
356,159
269,104
817,778
£205,923
£346,869
£170,297
£723,089

19

Authors' Awards and Advancement final

Final Audit Report

2025-07-10

Created: 2025-07-09 By: Simon Goodridge (simon.goodridge@knoxcropper.com) Status: Signed Transaction ID: CBJCHBCAABAAGsOj-NNECvgzF--U-Wco0qnyuppUHAeI

"Authors' Awards and Advancement final" History

Document created by Simon Goodridge (simon.goodridge@knoxcropper.com) 2025-07-09 - 6:33:19 PM GMT

Document emailed to Andrew Subramaniam (asubramaniam@hwfisher.co.uk) for signature 2025-07-09 - 6:33:27 PM GMT

Document emailed to Simon Goodridge (simon.goodridge@knoxcropper.com) for signature 2025-07-09 - 6:33:28 PM GMT

Email viewed by Simon Goodridge (simon.goodridge@knoxcropper.com) 2025-07-09 - 6:38:37 PM GMT

Email viewed by Andrew Subramaniam (asubramaniam@hwfisher.co.uk) 2025-07-09 - 6:42:56 PM GMT

Document e-signed by Andrew Subramaniam (asubramaniam@hwfisher.co.uk) Signature Date: 2025-07-10 - 7:18:10 AM GMT - Time Source: server

Document e-signed by Simon Goodridge (simon.goodridge@knoxcropper.com) Signature Date: 2025-07-10 - 9:23:55 AM GMT - Time Source: server

Agreement completed.

2025-07-10 - 9:23:55 AM GMT