Trustees’ Annual Report for the period
From: 01 April 2024 Period start date To: 31 March 2025 Period end date Charity name: The Poetry Exchange
Charity registration number: 1185714
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance the arts and culture, in particular poetry, for the public benefit, by producing events and activities that promote the public’s engagement with and appreciation of poetry, for the general public around the UK and worldwide. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The Poetry Exchange runs various activities that enable the widest possible range of people to engage with and appreciate poetry. Through our unique idea of poems as friends, we invite people from all walks of life to discover and share what poems mean to them. We talk with readers around the UK about the poem that has been a friend to them, making space for these individuals to explore and deepen their sense of personal connection with a chosen poem. We share some of these extraordinary conversations through The Poetry Exchange podcast, bringing poems to thousands of listeners around the world through the voices and stories of those who read them. We also run live events and workshops at festivals, libraries, universities, community centres and workspaces, inviting people of all ages and backgrounds to connect more closely with poetry, themselves and each other. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the guidance issued by the Charity Commission on public benefit. |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers |
Para 1.38 | Whilst we pay people appropriately wherever possible for their work (based on Artists Union England rates), our core team, community of practitioners and supporters will often give their time voluntarily, due to their passion for and commitment to The Poetry Exchange and its work. |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | We were left devastated and heartbroken during 2024-25 when our founder and Artistic Director, Fiona Bennett, became ill with a rare and complex form of cancer in May 2024. Tragically, Fiona passed away in August of the same year. Naturally, this took over all our care and attention during the year, requiring us to put many of our plans on hold. We focussed on being there for Fiona and each other, and on communicating the sad news to the Poetry Exchange community around the world. People wrote in from far and wide to express their love and admiration for Fiona, and gratitude for her work with The Poetry Exchange – including many heartfelt messages from people who had never met Fiona but whose lives had been touched by her voice, her heart, her work: “I would like to express my sincerest sympathies and condolences for the loss of Fiona. As a listener from Cyprus I only got to know Fiona through her voice and the latest live stream you organised earlier this year. |
Despite this, I feel like I lost a friend, who has kept me company for many years through your collective content and I consider myself incredibly fortunate to have been touched by her sensitivity, her depth of thought and feeling and her talent.” – Sergios H “I've never met Fiona but I loved to hear her voice on the Poetry Exchange. She was always so kind and gentle with the guests she had on the show and at the same time, so intellectually rigorous. I am grateful for her life, for the way she showed up for others, for being brave, authentic, wise and kind.” – Jill Jackson In spite of the enormity of what we were feeling and facing, we did manage to carry out some beautiful work during 2024-25, making some shining achievements that are testament to Fiona’s extraordinary presence and leadership, and her boundless legacy. Most notably, we published The Poetry Exchange Anthology Poems as Friends with Quercus Editions in May 2024. The result of two years of intensive work by Fiona Bennett and Michael Shaeffer, drawing on 10 years of work of The Poetry Exchange – this unique anthology shares 60 poems accompanied by the stories of readers who have known them as friends. It truly is a one-of-a-kind book in which extraordinary poems from the past and present sit alongside the voices and stories of people from all walks of life, talking about how these poems have acted as friends to them and have played a vital part in their lives. Even though our plans for the launch and promotion of Poems as Friends had to be scaled back in the circumstances, the response from readers around the UK and worldwide has been fantastic and so moving to receive: “The Poetry Exchange found me in COVID lockdown and reminded me how much I treasure the music and soul of good writing. The poems are made fresh by people’s personal readings of them and give me great comfort and joy. Poems are indeed some of our best friends. A wonderful concept beautifully shared.” Anonymous reader review on Amazon
Poems as Friends received several accolades during 2024-25, including being selected as one of the Poetry Books of the Year by The Guardian in December 2024, and being consistently listed as a 5* seller by Gardners (the UK’s largest book distributor). As we moved into 2025, we continued to celebrate Poems as Friends by creating various events and activities that would open up the book with new audiences. This included: an online advent calendar sharing a poem a day during December; readings from the anthology at Garsington Opera, Hertfordshire Libraries, Nottingham University, the National Poetry Library and more. Alongside all of this we also continued our much-loved Poetry Exchange podcast, reaching the extraordinary milestone of our 100[th] episode in July 2025. Special mention must be made here of our co-host Michael Shaeffer, who continued to steer and host the podcast over the course of Fiona’s illness and in the months following her passing, sharing the news and speaking to our listeners with immense sensitivity and love at such a difficult time. Thank you so much Michael for all your incredible hosting, enthusiasm and companionship to so many through The Poetry Exchange podcast over the last 10 years.
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | Even though we had a lower income in 2024-25 compared to the previous year, we still ended the period with a healthy £13,692 cash funds available to see through our planned activity into 2025-26. This included the remainder of a grant from Arts Council England (£29,993 total), for which the funder allowed us an extension on its expenditure and reporting (until December 2025). |
| Para1.41 |
Investment performance against objectives Other
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Poetry Exchange is in a healthy position at the end of 2024-25, with £13,692 cash funds carried over into 2025- 26. The majority of this is the remainder of a significant grant from Arts Council England (£29,993 total), for which the funder allowed us an extension on its expenditure and reporting until December 2025. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The trustees’ ambition is to generate sufficient reserves to sustain the regular costs of The Poetry Exchange’s ‘core’ programme for up to 4 months, which would allow us sufficient time either to pause or wind up our activity, or to raise additional funds to continue beyond this period. |
| Amount of reserves held | Para 1.22 | No reserves in place at this stage. |
| Reasons for holding zero reserves |
Para 1.22 | Whilst The Poetry Exchange does not currently hold formal reserves, we operate as a very light-touch organisation with no offices, salaried staff or other overheads to consider. Therefore this does not pose a significant risk to The Poetry Exchange’s viability. |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The Poetry Exchange operates sustainably as a small charity, through having no offices, salaried staff or other overheads to consider, and by only undertaking work when we have sufficient funds/resources to do so. |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | We saw the remaining £6,000 payment from Quercus Editions towards The Poetry Exchange Anthology in 2024-25, covering editorial fees and rights/permissions (secured by The Poetry Exchange). The total fee from Quercus of £11,000 was fully allocated on the production of The Poetry Exchange Anthology over 2023-25. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
|---|---|---|
| A description of the principal risks facing the charity |
Para 1.46 | Risk: lack of continuity or capacity due to high levels of freelance and/or volunteer work. Mitigation: The Poetry Exchange is run by a passionate team and community, and we scale our work depending on the resources and time available. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
N/A | |
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Foundation model constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Incorporated Organisation (CIO) |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | New trustees appointed by existing trustees i.e. Alison McManus, Roy McFarlane, Andrea Witzke Slot. Every trustee must be appointed for a term of three years by a resolution passed at a meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. |
Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works
Relationship with any related Para 1.51 parties Other
Reference and Administrative details
| Charity name | The Poetry Exchange |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1185714 |
| Charity’s principal address | 26 Monument Court Woolners Way Stevenage SG1 3AD |
Names of the charity trustees who manage the charity
| 1 2 3 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Alison McManus | Chair | |||
| RoyMcFarlane | ||||
| Andrea Witzke Slot | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Name of chief executive or names of senior staff members (Optional information) | ||
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
Alison McManus (Jan 26, 2026 13:58:10 GMT) |
|
|---|---|---|
| Alison McManus | Andrea Witzke Slot | |
Chair |
||
| 26/01/2026 | ||
| 26/01/2026 |
| The Poetry Exchange 1185714 Receipts and payments accounts |
The Poetry Exchange 1185714 Receipts and payments accounts |
CC16 a |
|---|---|---|
| For the period from 01/04/2024 To |
31/03/2025 |
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ 887 6,000 - 1,360 8,247 8,247 644 350 962 517 1,129 527 281 2,607 1,000 8,017 |
Restricted funds to the nearest £ |
Endowment funds to the nearest £ |
Total funds to the nearest £ - 887 6,000 - 1,360 8,247 8,247 8,247 2,147 874 2,405 1,800 - - 517 2,822 527 281 2,607 1,000 14,980 |
Last year to the nearest £ |
|---|---|---|---|---|---|
| Arts Council England National Lottery Project Grants |
- | ||||
| Earned income - fees from partners |
887 | 3,120 | |||
| Earned income - fees for Anthology from Quercus |
6,000 | 5,000 | |||
| Donations - fundraising event(s) | - | 1,550 | |||
| Individual donations | 1,360 | 550 | |||
| Sub total(Gross income for AR) |
8,247 | - | 10,220 | ||
| A2 Asset and investment sales, (see table). |
|||||
| Sub total | 10,220 | ||||
| Total receipts A3 Payments |
|||||
| 10,220 | |||||
| Artists' fees & expenses | 644 | 1,503 | 2,147 | 3,240 | |
| Venue hire & materials | 350 | 524 | 874 | 202 | |
| Producing & marketing | 962 | 1,443 | 2,405 | 2,200 | |
| Audio production | 1,800 | 1,800 | 2,900 | ||
| Other freelance support | - | 905 | |||
| Rights & permissions | - | 536 | |||
| Advertising & promotion | 517 | 517 | 149 | ||
| Software, subscriptions, insurance |
1,129 | 1,693 | 2,822 | 2,136 | |
| Travel, tickets, subsistence - core team & trustees |
527 | 527 | 844 | ||
| Supporter & donor care | 281 | 281 | 552 | ||
| Anthology - author fees | 2,607 | 2,607 | 3,000 | ||
| Anthology - rights & permissions |
1,000 | 1,000 | 6,928 | ||
| **Sub total ** | 8,017 | 6,964 | 14,980 | 23,593 |
| A4 Asset and investment | ||||||||
|---|---|---|---|---|---|---|---|---|
| purchases, (see table) | ||||||||
| Sub total | ||||||||
| Total payments | 8,017 | 6,964 | 14,980 | 23,593 | ||||
| Net of | ||||||||
| receipts/(payments) | 231 | - 6,964 | - 6,733 | - 13,373 | ||||
| A5 Transfers between | ||||||||
| funds | ||||||||
| A6 Cash funds last year | ||||||||
| end | 4,497 | 15,928 | 20,424 | 16,912 | ||||
| Cash funds this year end |
4,728 | 8,965 | 13,692 | ###### | ||||
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary B3 Investment assets B4 Assets retained for the charity’s own use B5 Liabilities |
Unrestricted funds to nearest £ 4,728 4,728 Unrestricted funds to nearest £ - Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Details Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Details |
Unrestricted funds to nearest £ 4,728 4,728 Unrestricted funds to nearest £ - Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Details Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Details |
Restricted funds to nearest £ 8,965 8,965 Restricted funds to nearest £ - Cost (optional) - Cost (optional) - Amount due (optional) - |
Endow ment funds to nearest £ |
|---|---|---|---|---|
| Endow ment to nearest £ |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| When due (optional) |
||||
| - |
----- Start of picture text -----
Signed by one or two
Date of
trustees on behalf of all the Signature Print Name
trustees approval
Alison McManus 26.01.26
Andrea Witzke Slot
26.01.26
----- End of picture text -----
Notes: £635 paid to trustee Roy McFarlane and £1,607 paid to trustee Fiona Bennett for artistic services to The Poetry Exchange over 2024-25. A resolution was in place and updated by all trustees to allow for Roy McFarlane and Fiona Bennett to receive these payments at specific moments during 2024-25, given their unique skills and experience within The Poetry Exchange team.