ANNUAL TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025
REFERENCE & ADMINISTRATIVE INFORMATION
Registered name of charity: Fieldnotes
Trustees on the date of the approval of this report: Isabella Marrin (treasurer) Thomas Forster Evie Jeffreys (chair) Rose O'Gallivan (appointed 03/05/2023) Mónica Rivas Velásquez (appointed 06/09/2023)
Charity number: 1192461
Registered office: Studio 002 Warton House 150 Stratford High Street London E15 2NE
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CONTENTS
Trustees’ report, pages 3-6 Independent Examiner’s report, page 7-8 Statement of financial activities, page 9-10 Statement of financial position, page 11-12 Signatures, page 13 Notes to the financial statements, pages 14-18
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TRUSTEES’ REPORT
The trustees present their report and financial statements for the year ended 31 March 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 (effective 1 January 2019) (FRS 102).
OBJECTIVES AND ACTIVITIES
Charitable objects:
The purpose of the organisation is to promote the arts and literature and to advance education in the arts and literature for the benefit of the public by the publication of an arts and literary journal supporting new or emerging artists and writers.
Key developments year ending 31 March 2025:
This was a busy and significant year for the charity as we continued to develop effective ways of working. We launched a new issue of the publication (FIELDNOTES Issue 6), which was well received and our first issue to sell out within a year. We produced and published a new zine titled FLOOD: ideas for writing about landscape , documenting a series of walking writing workshops which took place across Kent and Essex between 2023-2024. We delivered a second series of the FIELDNOTES Evening School, a 6-week online programme involving two new cohorts of writers and artists. We undertook our first international tour funded Creative Scotland 4 Nations Fund, travelling to Glasgow and Berlin to deliver workshops, events and to undertake audience development and market research. We expanded our online writing workshop programme to deliver new single and two-part workshops focusing on experimental writing techniques. We secured funding for FIELDNOTES Issue 7 from Cockayne Grants for the Arts (to be produced and launched in 2025). We piloted a series of reading groups with guest facilitators.
The core executive team was unchanged during this period, with Bella Marrin directing the programme supported by Elaine Tam as Senior Editor, Isabel Mallet as Poetry Editor and Natasha Cox as Arts Editor. Gina Prat Lilly moved from the role of Editorial Assistant to a voluntary position as Contributing Editor alongside Katie Lane and Isabella Parlamis. Rob Shuttleworth continued to work for the charity as a freelance workshop facilitator and radio producer.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.
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GOALS
Finance: build financial sustainability, establish models for cost-neutral programming, become less reliant on unpaid voluntary work
Partnerships: build connections and solidarities with like-minded organisations locally and internationally, share resources and encourage DIY and community-led programming
Audience: remove barriers to access, expand the distribution of our publications, reach new audiences with our public programming, enable the formation of creative communities and networks around our work
Quality: support diverse forms of creative practice and diverse practitioners to produce groundbreaking new work
The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work within the last twelve months. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
ACHIEVEMENTS AND PERFORMANCE
The year was one of expansion with a focus on establishing sustainable ways operating and reducing reliance on grant income. We were encouraged by the outstanding performance of the new issue (FIELDNOTES Issue 6 launched in April 2024) which sold out quickly. Similarly we were encouraged by the popularity of our educational programming with all courses and classes being fully booked with long waiting lists. We will act upon these successes by increasing the print run of future publications and expanding our educational offerings.
Our first international tour (funded by Creative Scotland 4 Nations Fund) put us in touch for the first time with audiences in Berlin and Glasgow, where we partnered with other independent non-profit arts organisations (Good Press Glasgow, Broadside Glasgow, CCA Glasgow, Hopscotch Berlin) to deliver a programme of workshops and live events. During the tour we undertook market research which culminated in a formal consultation on book distribution to the EU for small art presses based in the UK, with a focus on issues encountered since Brexit. Publishing the outcomes of this consultation enabled us to make a positive contribution to our sector and to support the work of other independent publishers.
FIELDNOTES Evening Schools and other online workshops received highly positive feedback from participants. We were proud to be able to offer these programmes with accessible pricing – participants decided how much they were able to pay. This strategy of sliding scale pricing has now been successfully piloted and proved to be inclusive (with over
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50% participants representing low-income groups) whilst remaining financially viable for the charity without the necessity of seeking additional funding.
Securing funding for the next issue of FIELDNOTES from Cockayne Grants for the Arts ensures the continued existence of the organisation and offers possibilities for continued community and audience expansion as the grant from Cockayne will also be used to fund a live events programme taking place in venues across London over the summer of 2025. These live events will include a number emerging writers and artists selected from an open call, enabling us to support their work and provide a platform for it. Recordings from events will subsequently we broadcast on Resonance 104.4FM and published on our website.
We are proud of our performance in bringing benefit to the public and supporting emerging writers and artists by developing and publishing their work. We acknowledge that this is just a start and there is much more that can be achieved.
FINANCIAL REVIEW
The Statement of Financial Activities shows a surplus on.31 March 2025 of £12,757. For comparison:
-
31 March 2024 surplus of £11,392
-
31 March 2023 surplus of £9056
-
31 March 2022: surplus of £14,290
The Statement of Financial Position shows net assets on 31 March 2025 of £15,175. For comparison:
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31 March 2024 of £15,500
-
31 March 2023 of £12,694
-
31 March 2022 of £22,766
Summary notes:
The period saw a focus on sustainability with a concerted effort to run programmes on smaller budgets – as a result, fewer substantial grants were sought and so the income from this source reduced dramatically to £9,268.9 down from £41,456 in the previous financial year. Income generated by charitable activities saw a comparatively smaller reduction, down to £13,417.40 for the period compared with the previous period total of £17,526.76. This was a result of a scaled back programme of workshops and events, this reduced income was offset to some degree by increased sales of the publication up to £10, 021.1 compared to the previous period: £8652.48.
The trustees have decided that holding reserves is not necessary at this juncture as the activity of the charity is relatively small scale and funding received is adequate to pay all expenses and obligations of the charity.
If the charity expands the scope of its activities it will aim to hold reserves equivalent to the approximate costs of producing one issue of the publication (£12,000).
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STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity’s governing document is a Trust Deed, there are three founding trustees and five current trustees. As yet the charity has not been constituted as a company although it is our intention to register as a company limited by guarantee. At the moment a simple Charitable Trust provides an adequate framework for us to operate within. It is also our intention to recruit more trustees in order to diversify the board and gain from a wider pool of expertise and experience.
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Roport to the trustoes Charily Name Fieldnotes On accounts for the year ended 31 March 2025 Charity no lif any) 1192461 Set out on pages Irom8mber to Include the page numbers ol addr.ional 5heoisI I report to the twstees on my 8xamination of the accounts of the above charity {'the Trust") for the year ended 3110312025. Respon$ibilitles and basis of report As the charity's trustees. you are responsible for the preparation of the accounts in accordanGe with the requir8ments of the Charities Act 2011 (Ihe Act'>. I report in respect of my examination of the Trust's accounts carried out under s8Ction 145 of the 2011 Act and in carying out rny examination, I have followed all the applicable Directions given by the Charty Commission under section 145(51{b) of the Act. Independent I have completed my examlnation. I confirni Ihat no material matters hav8 oxaminerfs statsment come to my attention in connection with the examination which gives mè cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act: or the accounts did not accord with the a¢¢ounting rewrds; or the accounts did not comply with the applicable requirements conceming the form and content of accounts set out in th8 Charities {Accounls and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independenl examination. I have no concems and have come across no other matters in ¢onn8ction with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: 3010112025 Name: Robert Nevrnan Relevant professional quallficatlon(s) or body (if any): MAAT ATh FFA FAIA Addro$s: Chichester House. 2 Chithestar Strèet, Rochdale, OL162AX IER Oct 2018
Section B Disc105ure Only complet8 if th8 8xamin8r n88ds to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give hero brief details of any Items that the oxaminer wishes to dlsclose. IER Oct 2018
Statement of financial activities 2024-2025
| Unrestricte d funds |
Restricte | Endowmen | Total | Prior | Note | |
|---|---|---|---|---|---|---|
| d funds | t funds | funds | period | s | ||
| total | ||||||
| funds | ||||||
| £ | £ | £ | £ | £ | ||
| Income and endowments from: |
||||||
| Donations and legacies |
1,269 | 8000 | 9,269 | 41456 | 2 | |
| Charitable activities | 13,417.40 | 13,417.4 0 |
17526 | 3a | ||
| Other trading activities |
||||||
| Investments | ||||||
| Other | 2783.47 | 2783.47 | 2389.5 | 3b | ||
| Total | 17,469.79 | 8,000.00 | 25,469.7 | 61,372.2 | ||
| 9 | 6 | |||||
| Expenditure on: | ||||||
| Raising funds | ||||||
| Charitable activities | 24,105 | 24,105 | 59036 | 4 | ||
| Other | ||||||
| Total | 24,105 | 0 | 24,105 | 59036 | ||
| Net gains/(losses) on investments |
||||||
| Net | -6,635.50 | 8000 | 1,364.50 | 2,335.85 | ||
| income/(expenditure | ||||||
| ) | ||||||
| Transfers between funds |
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| Other recognised gains/(losses): |
||||||
|---|---|---|---|---|---|---|
| Gains/(losses) on revaluation of fixed assets |
||||||
| Actuarial gains/(losses) on defined benefit pension schemes |
||||||
| Other gains/(losses) | ||||||
| Net movement in funds |
||||||
| Reconciliation of funds: |
||||||
| Fund balances at 31 March 2024 |
11,392 | 0 | 11,392 | |||
| Fund balances at 31 March 2025 (net current assets) |
4,757 | 8000 | 12,757 |
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Statement of financial position (balance sheet) 2024-2025
| Total | Prior year | Notes |
|
|---|---|---|---|
| funds | funds | ||
| £ | £ | ||
| Fixed assets: | |||
| Intangible assets | |||
| Tangible assets | |||
| Heritage assets | |||
| Investments | |||
| Total fixed assets | |||
| Current assets: | |||
| Stocks | 2418 | 3640 | 7 |
| Debtors | 0 | 468 | |
| Investments | |||
| Cash at bank and in hand | 12,756.60 | 11392 | |
| Total current assets | 15,175 | 15,500 | |
| Liabilities: | |||
| Creditors: Amounts falling due within one year | |||
| Net current assets or liabilities | |||
| Total assets less current liabilities | |||
| Creditors: Amounts falling due after more than one year | |||
| Provisions for liabilities | |||
| Net asset or liabilities excluding pension asset or liability |
|||
| Defined benefit pension scheme asset or liability | |||
| Total net assets or liabilities | 15,175 | 15,500 | |
| The funds of the charity: |
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| Endowment funds | |||
|---|---|---|---|
| Restricted income funds | 8000 | ||
| Unrestricted funds (income) | 4,757 | 11392 | |
| Revaluation reserve | |||
| Pension reserve | |||
| Total unrestricted funds | 4,757 | 11,392 | |
| Total restricted funds | 8000 | ||
| Total charity funds | 12,757 | 11392 |
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The financial statements were approved by the Trustees on 16 January 2026
..............................
Isabella Marrin (Trustee)
..............................
Evie Jeffreys (Trustee)
..............................
Thomas Forster (Trustee)
.............................. Rose O'Gallivan (Trustee)
.............................. Mónica Rivas Velásquez (Trustee)
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Notes to the financial statements
1. Accounting policies
Charity information:
Fieldnotes is a charitable trust registered in England and Wales. The registered office is Studio 002
Warton House 150 Stratford High Street London E15 2NE
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's SORP (FRS102) '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 (effective 1 January 2019)', the charity is a Public Benefit Entity as defined by FRS 102. The charity complies with charity law in the jurisdiction of its registration.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity’s ability to continue. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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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.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
1.5 Resources expended
Costs expended in order to generate funds are recognised once it becomes obligated to paying those costs.
1.6 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial liabilities
Creditors are not interest bearing and are stated at their nominal value.
2. Donations & legacies
| Total unrestricted funds received 1 April 2023 – 31 March 2025 |
Total unrestricted funds received 1 April 2023 – 31 March 2024 |
Total unrestricted funds received 1 April 2022 – 31 March 2023 |
|
|---|---|---|---|
| Donations &gifts | £1268.92 | £0 | £5000 |
| Grants | £8000 (restricted) |
£41,456 | £8199 |
| Total | £9,268.92 | £ 41,456 | £ 13,199 |
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3. Charitable activities
| Total unrestricted funds 31 March 2025 |
Total unrestricted funds 31 March 2024 |
Total unrestricted funds 31 March 2023 |
|
|---|---|---|---|
| Sales of the publication (wholesale + retail) |
£10, 021.1 | £8652.48 | £11,186 |
| Events income* | £44.84 | £7874.28 | £1,010.51 |
| Commissions | 0 | £1000 | |
| Workshop income | £3351.46 | ||
| Total | £13,417.40 | £17,526.76 | £12,196.51 |
*This income line has been split to differentiate between income from live events and income from workshops.
Other income
| Total unrestricted funds 31 March 2025 |
|
|---|---|
| Rent (our office space is shared and other residents pay their portion of the rent to us, we then pay the landlord directly) |
£2700 |
| Errors, returns, refunds | £83.47 |
| Total | £ 2783.47 |
4. Charitable activities
| Total unrestricted funds 31 March 2025 (£) |
Total unrestricted funds 31 March 2025 (£) |
Total unrestricted funds 31 March 2024 (£) |
|
|---|---|---|---|
| Accountant | 0 | 378 | |
| Donations | 0 | 663.62 | |
| Equipment | 0 | 336.02 | |
| Events Costs | 981.91 | 4146.71 | |
| Freelance Fees* | 4075.59 | 32121.92 | |
| Grants | 0 | 3000 | |
| Office | 76.48 | 342.23 | |
| Overheads | 334.7 | 622.75 | |
| Postage | 1685.62 | 1780.25 | |
| Printing | 5482.89 | 5024 | |
| Promotion | 1850.52 | 1674.76 | |
| Rent | 5091.57 (less sublet income: 2391.57) |
5185.2 | |
| Research | 80.44 | 142.44 | |
| Travel | 0 | 2615.33 |
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| Errors,returns,refunds | 24.09 | 1003.18 |
|---|---|---|
| Total | 24105.29 | £59036.41 |
*including fees to editors, print & radio contributors and designers
5. Trustees
A total of £1,500 in 3 installments was paid over the period to Isabella Marrin who was engaged in a professional capacity as the Project Manager and Workshop Facilitator to deliver upon the proposed activity funded by the Creative Scotland 4 Nations Fund including events, workshops and the production of a new publication. Isabella Marrin was also paid a total of £985.2 in fees for the co-facilitation of a workshop series called FIELDNOTES Evening School and the co-facilitation of an in-person workshop called FLOOD. Our governing documents and the Charity Commission’s guidelines on Conflicts of Interest were consulted. It was agreed that the necessary conditions for authorization of the payments were met and there was no conflict of interest because - the amount of the remuneration was set out in a written agreement and was agreed to be reasonable in the circumstances, the Board agreed it was in the best interest of the charity, the renumerated trustee represented a minority of the Board, and there is no express provision in the trust deed preventing the payment.
6. Employees
There were no employees during the year.
7. Stocks
| Position 31 March 2025 |
Position 31 March 2024 |
|
|---|---|---|
| Finished goods and goods for resale (each unit costed @£5.2) |
£2418 | £3,640 |
| Total | £2418 | £3,640 |
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