```
REGISTERED CHARITY NUMBER: 1200861
```
```
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
```
```
FOR
```
```
NATIONAL POETRY CENTRE
```
```
Thomas Coombs Limited
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB
```
```
NATIONAL POETRY CENTRE
```
```
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
```
**----- Start of picture text -----**
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Activities 17
**----- End of picture text -----**
```
NATIONAL POETRY CENTRE
```
```
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31ST MARCH 2025
```
|**`TRUSTEES`**|`R A Pitt`|
|---|---|
||`S R Armitage`|
||`J E Madeley (appointed 25/6/24)`|
||`M M Khokhar`|
||`P G Bearpark`|
||`S L Gladish`|
||`P Kaur`|
||`F J Finlay (resigned 30/3/25)`|
||`S M Pitter (appointed 6/8/24)`|
||`S A Maxfield (appointed 6/8/24)`|
|**`PRINCIPAL ADDRESS`**|`169B Woodhouse Lane`|
||`Leeds`|
||`LS2 9JT`|
|**`REGISTERED CHARITY NUMBER`**|`1200861`|
|**`INDEPENDENT EXAMINER`**|`Thomas Coombs Limited`|
||`Chartered Accountants`|
||`3365 The Pentagon`|
||`Century Way`|
||`Thorpe Park`|
||`Leeds`|
||`West Yorkshire`|
||`LS15 8ZB`|
|**`KEY MANAGEMENT PERSONNEL`**|`N Barley (Director)`|
```
Page 1
```
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NATIONAL POETRY CENTRE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025`**
```
The trustees present their report with the financialstatementsof the charity for the year ended 31st March 2025. The trustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparing their accountsin accordancewith the FinancialReportingStandard applicablein the UK and Republicof Ireland (FRS 102)
(effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
To advance the art and culture of poetry and literatureand associatedsubjects for the public benefit, in particularbut not limited to
the establishment and operation of a National Poetry Centre in Leeds.
```
```
The Objectives of the Charity are:
```
## `1. Access`
```
Toengagewithindividuals,groupsandinstitutionstointroducethemtoandconnectthemwithpoetryaspartoftheir everyday
lives, developing creative, literacy and oracy skills, enriching lives and supporting health and wellbeing.
```
## `2. Learning`
```
To developand enhance the appreciation,practiceand experienceof poetry;to support poets, performers,readers and listeners at
all stages of their development and grow the ecosystem for poetry at all levels
```
## `3. Excellence`
```
To represent, promote and celebrateUK poetry as an art-form,a cultural practiceand a creativeexport in its highest forms. To work
withrenownedartists,facilitatedthroughworldclassresearch,knowledgeandprocesses-helpingbuildathrivingsector and
confident, engaged audiences
```
## `4. Connecting`
```
Toforgeconnectionsbetweenpoetsand poetryorganisationsas wellas betweenaudiencesand readinggroups,connecting them
to new resources, knowledge and partnerships in the UK and across the world
```
```
Page 2
```
```
NATIONAL POETRY CENTRE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025`**
## **`OBJECTIVES AND ACTIVITIES`**
## **`Significant activities`**
```
TheNationalPoetryCentrehastheprimaryaimofestablishingandtheoperatinganewheadquartersforpoetryina landmark
heritagebuilding - breathinglife back into the historicTrinitySt David'sand creatinga vibrant public space in an area of deprivation
and in celebration of poetry around the UK.
```
```
The National Poetry Centre has six pillars which underpin its aims and priorities:
```
`1. Creativity and Expression: Celebrating the joy and artistic nature of reading and writing poetry`
```
The centredevelopsand deliverseventsand projectswhichengagethe generalpublicin creativereading,writingand engagement
in poetry activities. These include events, exhibitions, commissions and publications.
```
`2. Literacy and Oracy: Focusing on developing practical skills through the reading and writing of poetry`
```
The organisationis the lead partner in the Young Poet Laureateproject,which will engage 120,000young people in poetry activities
over 2 years, developing oracy and literacy skills, confidence and engagement with their wider community through poetry.
```
```
ThecentreisactivelydevelopingpartnershipsacrosstheUK,withpeopleofallages,todevelopnewopportunitiesto develop
literacy and oracy skills through poetry.
```
`3. Connecting the Past to the Future: Drawing on the heritage of poetry and spoken word as we look to its future`
```
The NationalPoetry Centre delivers a range of heritage focussed activities,including:engaging with poetry archivesthrough a range
ofengagementactivitiesand projects;engaginglocalpeoplein thebuiltheritageofthecharity'sfuturehome,TrinitySt David's, a
Grade 2 listed building in Leeds; developinga home for the heritageof the Poet Laureateand for the tellingof nationaland cultural
stories through exploring the history of poetry.
```
`4. Community and Belonging: Bringing people together and making them feel seen through the power of poetry`
```
The centreworksin partnershipto developprojectsand activitieswhichengagepeoplein poetryand enable them to connect with
one anotherand to expressthemselves- one examplebeing the flagshipRubbishWordsprojectwhichinvolved450participants in
creative, collaborative poetry making workshops in public spaces in Leeds City Centre.
```
`5. Physical and Emotional Wellbeing: Allowing the power of poetry to improve people's sense of physical and emotional health and wellbeing`
```
Thecentreischampioningtheroleofpoetryin promotinghealthandwellbeing- championingtheartformaspartofthe Creative
Healthagendanationally,anddevelopingtheevidencebaseforthepotentialofpoetryinpromotingmentalwellbeing and
processingtraumaticexperience.ThisincludesanongoingworkingpartnershipwiththeSouthWestYorkshireFoundation NHS
Partnership Trust.
```
`6. Economic Growth: Creating paid opportunities for poets, writers and support workers across the nation`
```
TheNationalPoetryCentreworkswithpartnersintheliterature,publishing,artsandcreativeeconomysectors, regionally,
nationallyand internationally,to identifyand developprofessionaland careeropportunitiesforpoetsand professionalsworking in
the poetry sector.
```
## **`Public benefit`**
```
In accordancewiththeirduties,pursuantto Section4 ofthe CharitiesAct2011,the Trusteeshaveconsideredthe Charity's objects
and activities in the light of the Charity Commission's general guidance on public benefit, "Charities and Public Benefit".
```
## **`Grantmaking`**
```
GrantmakingdoesnotcurrentlyformanypartoftheCharity’sactivitiesasitisatthedevelopmentstageoftheproject.If this
changes the Charity will develop a robust grant-making policy to which any and all awards would be fully subject.
```
```
Page 3
```
```
NATIONAL POETRY CENTRE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025`**
## **`OBJECTIVES AND ACTIVITIES`**
## **`Volunteers`**
```
The chair and trustees are unremuneratedand their time is providedon a volunteerbasis, except with regard to specificservices as
disclosedin the accounts.This includeda periodof 6 monthsin 2024 when the chairtookon a paid consultancyrole for an interim
periodduring the recruitmentand inductionof and handoverto the charity'spermanentdirector.The overwhelmingproportion of
the project'sactivitiesup to 2024have been carriedout by the chairon a purely volunteerbasis,estimatedas 2.5-3days per week
over a period of 3-4 years. The organisation has developed a volunteering strategy and started to engage volunteers in its activities.
```
## **`ACHIEVEMENTS AND PERFORMANCE`**
## **`Charitable activities`**
```
During 2024/25significantprogresswas made in growingthe NationalPoetryCentrefromthe PoetLaureate'soriginalvisioninto a
nationalorganisationwhichrepresents,nurtures and celebratespoetryin all its formsacrossthe UK. Buildingon that visionand on
the strong foundationslaid by the trustees,a new executiveteam has been appointedto deliverthe capitaldevelopmentand grow
the organisation which will occupy it.
```
```
NickBarleywasappointedasDirectoroftheNationalPoetryCentreinMay2024.Thecoreexecutiveteamhaveworked closely
with Chair of the charity's trustees Ruth Pitt including during the 6 month handover period.
```
```
FollowingtheappointmentofanewUKgovernmentinJuly2024,areviewwasundertakenofthe£5mgrantpromisedby former
ministersattheDepartmentofLevellingUp,HousingandCommunities.Aspartofthatprocess,thecharity commissioned
independenteconomistsStantectoconductanEconomicImpactAnalysisoftheorganisationanditsproposedcapital project.
Stanteccalculatedthatthecharitywillmakeaneconomiccontributionof£84minitsfirst15yearsofoperation,andthat the
buildingwillgenerateaBenefittoCostRatioofover2.00.InJanuary2025,thenewMinistryofHousing,Communitiesand Local
Governmentconfirmedthat £5m will be awardedto the project.The funds will be drawn down fromthe West Yorkshire Combined
Authorityandworkisunderwaytocompleteatimetableforthis-withthefirstfundsduetobeavailabletothecharitylater in
2025.
```
```
In October 2024 the charity was awarded an organisationalresiliencegrant of £235k from the National LotteryHeritage Fund. These
funds have been used to procureand developa suite of policiesand strategiesincludinga BusinessPlan,a FundraisingPlan,a draft
ActivityPlan,aDigitalandCollectionsPolicy,aSustainabilityPolicy,anEqualities,DiversityandInclusionPolicyandthe Economic
ImpactAnalysisreferredtopreviously.Thisworkhas led tothe preparationofan ExpressionofInteresttothe HeritageFund for a
grant of £3-4m towards the capital project: this is expected to be submitted later in 2025.
```
```
Alongsidethecapitalprojectdevelopmentthecharityhasbegunaseriesofprojectsandactivitieswhicharedesignednotonly to
testoutwhataNationalPoetryCentreprogrammecanachieve,butalsotoengagewithadiverserangeofcommunities and
individuals. The aim is to develop a programme, co-designed with its audience, that will be successful in the longer term.
```
## `Activities have included:`
```
RubbishWords,ahighly-successfulopen-to-allpublicengagementeventattheCornExchangeinLeedsthankstoagrantof £25k
from Leeds City Council. Over 450 participants created poems over the course of the 3-day project.
```
```
Light Night 2024, in which we commissioneda new poem by Maura Dooleywhich was broadcastout from the steps of the Trinity St
DavidsbuildinginLeeds,thankstoa£2.5kgrantfromtheTSEliotFoundation.Thepoemwasaccompaniedbyalight installation
which responded to her text, illuminating the building with rich colours.
```
```
WestYorkshireYoungPoetLaureateprogramme,deliveredby the NationalLiteracyTrust,in whichthe NationalPoetryCentreis a
namedpartner.Thisprojecthas led toan applicationby the NationalPoetryCentreforthe roll-outofthe projecton a nationwide
basis.Agrantof£305kwasawardedtothecharityinJanuary2025,whilematchfundingof£60kfromtheCharlotteAitken Trust
and £80k from the West Yorkshire Combined Authority has been pledged.
```
```
TheHopeCollective,acreativehealthprojectundertakeninpartnershipwithSouthWestYorkshireFoundationNHS Partnership
Trust,workedwithserviceusersandstaffatmentalhealthorganisationsacrosstheSouthWestYorkshireregion.122 people
submittedpoemsand researchdemonstratedthat the activityhad a significantpositiveimpacton their mentalhealth.A paper has
been published in the Journal of Poetry Therapy and further trials are expected in the coming year.
```
```
Page 4
```
```
NATIONAL POETRY CENTRE
```
```
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`ACHIEVEMENTS AND PERFORMANCE`**
## **`Fundraising activities`**
```
Organisationaldevelopmentcontinuesrapidly, and discussionswith key stakeholdersare continuingto yield support. The University
ofLeedsandArtsCouncilEnglandeachprovideddevelopmentinvestmentof£60kinthisfinancialyear,whileLeedsCity Council
contributed £20k in cash as well as in-kind support from council employees to support organisational and capital development work.
```
```
InthecomingfinancialyearitisanticipatedthatthecharitywillsecuremajorsupportfromtheNationalLotteryHeritageFund as
well as commencingits fundraising strategy with trusts, foundationsand individualmajor donors. Although Arts CouncilEngland has
delayedtheprocessofawardinggrantsinitsNationalPortfolioOrganisationschemebyoneyear,conversationsbetween the
charityandACEarecontinuing,withtheexpectationthatfurtherinvestmentwillbeavailabletothecharityduringthe capital
development phase.
```
## **`Investment performance`**
```
TheCharitydoesnotyethavesufficientfundstobeinapositiontoinvestincapital.Ithasinvestedinthesalariedpositionsof a
full-time Director and Operations Manager to ensure organisational sustainability.
```
## **`FINANCIAL REVIEW`**
## **`Financial position`**
```
The Statement of Financial Activitiesshows an overall surplus for the year of £60,903 (2024: Surplus of £44,102),which breaks down
asasurplusonUnrestrictedactivityof£71,453andadeficitof£10,550onrestrictedactivity.Overallfundsstoodat£105,005 at
31st March 2025 (2024: £44,102) of which £33,552 (2024:£44,102) were restricted .
```
```
Helpedby its strongrelationshipswithfunders,the organisationhas had a verygoodyearand remainsin a solidfinancial position,
withincome(bothrestrictedandunrestricted)increasingto£393,415(2024:£120,000).Thisincreasedincomehasenabled the
charity to expand the support it provides, both in the range of its services and geographically across the UK.
```
```
Expenditurein the yearincreasedto £332,512(2024:£75,898),due to the increasedlevelofprojectand partnershipactivities that
the charityhas been involvedwith,and partlydue to the clearanceof broughtforwardbacklogsin servicedelivery,reflectedin the
deficit of restricted fund expenditure over income referred to above, which was enabled by restructuring and improved recruitment.
```
## **`Principal funding sources`**
```
The Charity's principal sources of funds come from the following;
```
```
- Leeds City Council - Organisational Development £20,000
- Arts Council England - Organisational Development £60,000
```
```
- University of Leeds - Organisational Development £60,000
```
```
- Heritage Fund - Connecting Poetry Project £207,915
```
```
- Leeds City Council - Rubbish Words Project £15,000
```
```
- Charlotte Aitken Trust £30,000
```
## **`Reserves policy`**
```
Reserves held by the charity can be represented by restrictedfunds (funds raised or donated for a specificpurpose) and unrestricted
funds (which can be spent by the charity on its charitable objectives as directed by the Trustees).
```
```
TheTrusteesfeelthatitisprudenttomaintainasufficientamountinreservesto:ensurethattheCharitableCompanydoes not
becomeinsolvent;meetunforeseenexpenditureandprovideflexibilityinmeetinggrowingdemands;fundshort-termdeficits in
income;ensurethattheCharitableCompanycanmeetitsfinancialcommitments;covershorttermtimingdifferences between
income receipts and outgoing payments.
```
```
In order to do this, the Trustees consider it prudent to maintain minimum reserves equivalent to at least 3 months' core expenditure
andideallyaimtoaccumulateunrestrictedreservesequivalentofatleast6 months'expenditure,whichtheycurrentlycalculate to
be in the range of £43,500 to £87,000.
```
```
Freereservesasat31stMarch2025arecalculatedas£71,336(2024:£nil).Thisequatestoapproximately5 monthsrunning costs
which is within the targeted range.
```
```
Page 5
```
```
NATIONAL POETRY CENTRE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025`**
## **`FINANCIAL REVIEW`**
## **`Going concern`**
```
ThecharityhasstrongsupportfromMinistryofHousing,CommunitiesandLocalGovernment;ArtsCouncilEngland,University of
Leeds, West Yorkshire Combined Authority and Leeds City Council.
```
```
The trustees considerthat there are no materialuncertaintiesabout the Charity'sability to continuefor a period of not less than 12
monthsfromthedateoftheapprovalofthefinancialstatements.Accordingly,thefinancialstatementshavebeenpreparedon a
going concern basis.
```
## **`Principal risks`**
```
Asasmallcharityinanincreasinglycompetitivefundinglandscapeandtoughwiderfinancialclimate,theprincipalriskfacing the
charityisaroundfinancialsustainability.Theorganisationhasstrongsupportfromitscorestakeholders,theUniversityof Leeds,
Arts CouncilEnglandand LeedsCityCouncil,and has developeda robustfundraisingstrategyidentifyinga diverserangeof funding
sources.Conversationswitha numberofTrustsandFoundationsarewelladvanced,withcommitmentsfromtheCharlotte Aitken
Trust,HawthorndenFoundationinplacefor2025/26.Grantfundingofover£400,000hasbeenconfirmedfortheYoung Poet
Laureate programme.
```
```
Loss of key personnel is a key risk for a small charity. With two full time staff and a highly engaged Trustee team in place, mitigations
are in place to manage succession issues.
```
```
A full risk register is in place identifyingrisks relating to the charity'splanned capital project,which will be undertaken in partnership
with the Universityof Leeds with strong support from Leeds City Council,and a financialcommitmentfrom the Ministry of Housing,
Communities and Local Government, managed through the West Yorkshire Combined Authority.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
TheCharityis constitutedas a CharitableIncorporatedOrganisation(CIO)whoseonlyvotingmembersareitscharitytrustees. The
Charity is governed by its constitution.
```
## **`Recruitment and appointment of new trustees`**
```
ApartfromthefirstTrustees,everyappointedTrusteemustbeappointedforatermofthreeyearsbyaresolutionpassedat a
properly convened meeting of the Trustees.
```
```
InselectingindividualsforappointmentsasappointedTrustees,theTrusteesmusthaveregardtotheskills,knowledge and
experience needed for the effective administration of the CIO.
```
```
There may be two Nominated Trustees. One Nominated Trustee may be appointed by each of:
```
```
(a) Leeds City Council; and
```
```
(b) University of Leeds
(each an Appointing Body)
```
```
Any appointment must be made at a meeting held according to the ordinary practice of the relevant Appointing Body.
```
```
Each Nominated Trustee is appointed for a term of three years.
```
```
The appointment of a Nominated Trustee will be effective from the later of:
```
```
(a) the date of the vacancy; and
```
```
(b) the date on which the Trustees or their secretary or clerk are informed of the
appointment.
```
```
The Nominated Trustee need not be a Member of the relevant Appointing Body.
```
```
ANominatedTrusteehasthesamedutyunderclause9.2astheotherTrusteestoactinthewayheorshedecidesingood faith
would be most likely to further the purposes of the CIO.
```
```
Page 6
```
```
NATIONAL POETRY CENTRE
```
## **`REPORT OF THE TRUSTEES`**
## **`FOR THE YEAR ENDED 31ST MARCH 2025`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Induction and training of new trustees`**
```
Newtrusteeswilltakepartinaninductionsessionwhichwilllayouttheroleofatrusteeandwillgothroughthe charity’s
constitution.
```
```
Alltrusteeswillattendregularboardmeetings,someofwhichwillbeattendedbyguestspeakerswhowillprovidetrustees with
information about their specialism in order for trustees to make informed decisions regarding the charity’s activities.
```
## **`Key management remuneration`**
```
The pay of the charity'skey managementstaff is set by the board and reviewedannually withoutany obligationon the employer to
increasetherates.Salarieswillbesetreflectingthemarketrateofsimilarsizedcharitiessubjecttobenchmarkingfindingsand in
line with inflation and performance targets.
```
```
Approved by order of the board of trustees on 3rd November 2025 and signed on its behalf by:
```
```
R A Pitt - Trustee
```
```
Page 7
```
```
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NATIONAL POETRY CENTRE
```
## **`Independent examiner's report to the trustees of National Poetry Centre`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsofNationalPoetryCentre(theTrust)fortheyear ended
31st March 2025.
```
## **`Responsibilities and basis of report`**
```
As the charitytrusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of
the Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.IcanconfirmthatI am
qualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountantsinEnglandand Wales,
which is one of the listed bodies.
```
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
I have no concernsand have come across no other mattersin connectionwith the examinationto which attentionshould be drawn
in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Christopher Darwin FCA
```
```
Thomas Coombs Limited
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB
```
```
3rd November 2025
```
```
Page 8
```
```
NATIONAL POETRY CENTRE
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
**`Charitable activities`**
`2`
`NPC Development`
**`140,500`**
`Young Laureates`
**`-`**
`Poetry & Heritage`
**`-`**
`Rubbish Words`
**`-`**
**`Total`**
**`140,500`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`3`
`NPC Development`
**`64,091`**
`Poetry & Heritage`
**`-`**
`Rubbish Words`
**`-`**
**`Total`**
**`64,091`**
**`NET INCOME/(EXPENDITURE)`**
**`76,409`**
**`Transfers between funds`**
`11`
**`(4,956)`**
**`Net movement in funds`**
**`71,453`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`-`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`71,453`**|`Restricted`
`funds`
`£`
**`-`**
**`30,000`**
**`207,915`**
**`15,000`**
**`252,915`**
**`44,102`**
**`204,363`**
**`19,956`**
**`268,421`**
**`(15,506)`**
**`4,956`**
**`(10,550)`**
**`44,102`**
**`33,552`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`140,500`**
**`30,000`**
**`207,915`**
**`15,000`**
**`393,415`**
**`108,193`**
**`204,363`**
**`19,956`**
**`332,512`**
**`60,903`**
**`-`**
**`60,903`**
**`44,102`**
**`105,005`**|`2024`
`Total`
`funds`
`£`
`120,000`
`-`
`-`
`-`|
|---|---|---|---|
||||`120,000`|
||||`75,898`
`-`
`-`|
||||`75,898`|
||||`44,102`
`-`|
||||`44,102`
`-`|
||||`44,102`|
```
The notes form part of these financial statements
```
```
Page 9
```
```
NATIONAL POETRY CENTRE
```
## **`BALANCE SHEET`**
## **`31ST MARCH 2025`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`8`
**`1,031`**
**`CURRENT ASSETS`**
`Debtors`
`9`
**`14,000`**
`Cash at bank`
**`61,702`**
**`75,702`**
**`CREDITORS`**
`Amounts falling due within one year`
`10`
**`(5,280)`**
**`NET CURRENT ASSETS`**
**`70,422`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`71,453`**
**`NET ASSETS`**
**`71,453`**
**`FUNDS`**
`11`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`-`**
**`30,000`**
**`3,552`**
**`33,552`**
**`-`**
**`33,552`**
**`33,552`**
**`33,552`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`1,031`**
**`44,000`**
**`65,254`**
**`109,254`**
**`(5,280)`**
**`103,974`**
**`105,005`**
**`105,005`**
**`71,453`**
**`33,552`**
**`105,005`**|`2024`
`Total`
`funds`
`£`
`-`
`6,000`
`44,614`|
|---|---|---|---|
||||`50,614`
`(6,512)`|
||||`44,102`|
||||`44,102`|
||||`44,102`|
||||`-`
`44,102`|
||||`44,102`|
```
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 3rd November2025 and were signed
on its behalf by:
```
```
R A Pitt - Trustee
```
```
The notes form part of these financial statements
```
```
Page 10
```
```
NATIONAL POETRY CENTRE
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenpreparedin accordance
withthe CharitiesSORP(FRS102)'Accountingand Reportingby Charities:StatementofRecommendedPractice applicable
to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic
ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicablein the UK and Republic of Ireland' and the CharitiesAct 2011. The financialstatementshave been prepared under
the historical cost convention.
```
```
Thefinancialstatementshavebeenpreparedonagoingconcernbasisasthetrusteesbelievenomaterial uncertainties
exist. The trustees have consideredthe level of funds held and the expected level of incomeand expenditure for 12 months
fromauthorisingthesefinancialstatements.Thebudgetedincomeandexpenditureissufficientwiththelevelof reserves
for the charity to be able to continue as a going concern.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable
that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.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`**
```
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity'spensionscheme are
charged to the Statement of Financial Activities in the period to which they relate.
```
## **`Debtors and creditors receivable/ payable within one year`**
```
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecordedat transaction
price. Any losses arising from impairment are recognised in expenditure.
```
```
continued...
```
```
Page 11
```
```
NATIONAL POETRY CENTRE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025`**
## **`2. INCOME FROM CHARITABLE ACTIVITIES`**
|**`INCOME FROM CHARITABLE ACTIVITIES`**|||||
|---|---|---|---|---|
|`Activity`
`Grants`
`NPC Development`
`Grants`
`Young Laureates`
`Grants`
`Poetry & Heritage`
`Grants`
`Rubbish Words`||**`2025`**
**`£`**
**`140,500`**
**`30,000`**
**`207,915`**
**`15,000`**
**`393,415`**||`2024`
`£`
`120,000`
`-`
`-`
`-`
`120,000`|
|`Grants received, included in the above, are as follows:`|||||
|||**`2025`**|`2024`||
|||**`£`**|`£`||
|`Leeds City Council`||**`20,000`**|`30,000`||
|`Arts Council England`||**`60,000`**|`60,000`||
|`University of Leeds`||**`60,500`**|`30,000`||
|`Charlotte Aitken - Young Laureates`||**`30,000`**|`-`||
|`Leeds City Council - Rubbish Word`||**`15,000`**|`-`||
|`National Lottery Heritage Fund`||**`207,915`**|`-`||
||||||
||||||
|||**`393,415`**|`120,000`||
||||||
## **`3. CHARITABLE ACTIVITIES COSTS`**
|`NPC Development`
`Poetry & Heritage`
`Rubbish Words`|`Direct`
`Costs`
`£`
**`102,783`**
**`204,363`**
**`19,956`**
**`327,102`**|`Support`
`costs (see`
`note 4)`
`£`
**`5,410`**
**`-`**
**`-`**
**`5,410`**|`Totals`
`£`
**`108,193`**
**`204,363`**
**`19,956`**|
|---|---|---|---|
||||**`332,512`**|
## **`4. SUPPORT COSTS`**
```
NPC Development
```
```
Governance
costs
£
5,410
```
## **`5. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2025,norfortheyearended 31st
march 2024, in respect of their roles as Trustees.
```
```
continued...
```
```
Page 12
```
```
NATIONAL POETRY CENTRE
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`5. TRUSTEES' REMUNERATION AND BENEFITS - continued`**
## **`Trustees' expenses`**
```
Trusteesexpensesof£808werepaidduringtheyearended31March2025,and£394duringtheyearended31 March
2024, in respect of travelling to meetings and for hospitality for meeting partners and prospective trustees.
```
## **`6. STAFF COSTS`**
|`Wages and salaries`
`Social security costs`
`Other pension costs`|**`2025`**
**`£`**
**`91,331`**
**`4,780`**
**`1,759`**
**`97,870`**|`2024`
`£`
`18,793`
`-`
`144`|
|---|---|---|
|||`18,937`|
```
The Charityconsidersits key managementpersonnelto compriseof the trustees,the directorand the operations manager.
Thetotalemploymentcostsandfeespaidrelatingtokeymanagementpersonnelduringtheperiodwas£91,495 (2024:
£41,689).Duringtheyearthecharitypaid£10,050(2024:£nil)consultancychargesforinterimservicesas Development
chair provided by R A Pitt (see note 12).
```
```
The average monthly number of employees during the year was as follows:
```
|`Staff`
`No employees received emoluments in excess of £60,000.`
`The average full time equivalent for the average number of employees is 2.`
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
**`Charitable activities`**
`NPC Development`
`-`
**`EXPENDITURE ON`**
**`Charitable activities`**
`NPC Development`
`-`
**`NET INCOME`**
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`-`|**`2025`**
**`2`**
`Restricted`
`funds`
`£`
`120,000`
`75,898`
`44,102`
`44,102`|`2024`
`1`
`Total`
`funds`
`£`
`120,000`
`75,898`
`44,102`
`44,102`|
|---|---|---|
## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
```
continued...
```
```
Page 13
```
```
NATIONAL POETRY CENTRE
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`8. TANGIBLE FIXED ASSETS`**
|**`8.`**|**`TANGIBLE FIXED ASSETS`**|||||
|---|---|---|---|---|---|
||||||`Computer`|
||||||`equipment`|
||||||`£`|
||**`COST`**|||||
||`Additions`||||**`1,262`**|
||**`DEPRECIATION`**|||||
||`Charge for year`||||**`231`**|
||**`NET BOOK VALUE`**|||||
||`At 31st March 2025`||||**`1,031`**|
||`At 31st March 2024`||||`-`|
|**`9.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||||
|||||**`2025`**|`2024`|
|||||**`£`**|`£`|
||`Prepayments and accrued income`|||**`44,000`**|`6,000`|
|**`10.`**|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||||
|||||**`2025`**|`2024`|
|||||**`£`**|`£`|
||`Trade creditors`|||**`-`**|`2,125`|
||`Taxation and social security`|||**`2,273`**|`1,651`|
||`Other creditors`|||**`3,007`**|`2,736`|
|||||**`5,280`**|`6,512`|
|**`11.`**|**`MOVEMENT IN FUNDS`**|||||
||||`Net`|`Transfers`||
||||`movement`|`between`|`At`|
|||`At 1/4/24`|`in funds`|`funds`|`31/3/25`|
|||`£`|`£`|`£`|`£`|
||**`Unrestricted funds`**|||||
||`General fund`|**`-`**|**`76,292`**|**`(4,956)`**|**`71,336`**|
||`Designated - NPC Development`|**`-`**|**`117`**|**`-`**|**`117`**|
|||**`-`**|**`76,409`**|**`(4,956)`**|**`71,453`**|
||**`Restricted funds`**|||||
||`NPC Development`|**`44,102`**|**`(44,102)`**|**`-`**|**`-`**|
||`Young Laureates`|**`-`**|**`30,000`**|**`-`**|**`30,000`**|
||`Poetry & Heritage`|**`-`**|**`3,552`**|**`-`**|**`3,552`**|
||`Rubbish words`|**`-`**|**`(4,956)`**|**`4,956`**|**`-`**|
|||**`44,102`**|**`(15,506)`**|**`4,956`**|**`33,552`**|
||**`TOTAL FUNDS`**|**`44,102`**|**`60,903`**|**`-`**|**`105,005`**|
```
continued...
```
```
Page 14
```
```
NATIONAL POETRY CENTRE
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`11. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
`Designated - NPC Development`
**`Restricted funds`**
`NPC Development`
`Young Laureates`
`Poetry & Heritage`
`Rubbish words`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`80,500`**
**`60,000`**
**`140,500`**
**`-`**
**`30,000`**
**`207,915`**
**`15,000`**
**`252,915`**
**`393,415`**|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(4,208)`**
**`76,292`**
**`(59,883)`**
**`117`**
**`(64,091)`**
**`76,409`**
**`(44,102)`**
**`(44,102)`**
**`-`**
**`30,000`**
**`(204,363)`**
**`3,552`**
**`(19,956)`**
**`(4,956)`**
**`(268,421)`**
**`(15,506)`**
**`(332,512)`**
**`60,903`**|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(4,208)`**
**`76,292`**
**`(59,883)`**
**`117`**
**`(64,091)`**
**`76,409`**
**`(44,102)`**
**`(44,102)`**
**`-`**
**`30,000`**
**`(204,363)`**
**`3,552`**
**`(19,956)`**
**`(4,956)`**
**`(268,421)`**
**`(15,506)`**
**`(332,512)`**
**`60,903`**|
|---|---|---|---|
||||**`76,409`**
**`(44,102)`**
**`30,000`**
**`3,552`**
**`(4,956)`**|
||||**`(15,506)`**|
||||**`60,903`**|
## **`Comparatives for movement in funds`**
||`Net`||
|---|---|---|
||`movement`|`At`|
||`in funds`|`31/3/24`|
||`£`|`£`|
|**`Restricted funds`**|||
|`NPC Development`|`44,102`|`44,102`|
|**`TOTAL FUNDS`**|`44,102`|`44,102`|
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Restricted funds`**
`NPC Development`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`120,000`
`120,000`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(75,898)`
`44,102`
`(75,898)`
`44,102`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(75,898)`
`44,102`
`(75,898)`
`44,102`|
|---|---|---|---|
||||`44,102`|
## **`General Fund`**
```
Funds receivedtowardsthe overalldevelopmentof the charity,which can be applied to any activities,albeitat present are
primarily applied to driving forward the National Poetry Centre in Leeds.
```
## **`Designated Funds`**
```
NPCDevelopment- Funds receivedfromArtsCouncilEnglandset asidespecificallyfordrivingforwardthe National Poetry
Centre in Leeds.
```
## **`Restricted Funds`**
```
These represent monies received where the terms are such that they relate to specific projects, as detailed below:
```
```
continued...
```
```
Page 15
```
```
NATIONAL POETRY CENTRE
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025
```
## **`11. MOVEMENT IN FUNDS - continued`**
```
NPCDevelopmentFund-Projectstosupporttheinitialdevelopmentofthecharitytoenablerealisingofthe National
Poetry Centre in Leeds.
```
```
FromApril2025,furthersimilarfundinghas beenrecognisedwithingeneralfundsas itis consideredtobe in linewith the
overall aims and objectives of the charity.
```
```
TheYoungLaureatesfundrepresentsgrantsawardedtouseinrelationtotheYoungLaureatesSchoolsprogramme in
partnership with the National Literacy Trust.
```
```
ThePoetry&Heritagefundistoprovideaprogrammeofeventsandresearchtoconnectpoetry'spasttoitspresent and
future.
```
```
The Rubbish Words fund is to finance a community project combining poetry and recycling.
```
## **`12. RELATED PARTY DISCLOSURES`**
```
Duringtheyearthecharitypaid£10,050(2024:£nil)forconsultancyservicesfromUndertheMoonLtd,acompany of
which R A Pitt,the charityChair,is a director.This was for the servicesof Ruth Pitt as a DevelopmentChair,overseeing the
HeritageFund programmeof activitiesduring the transitionof the organisationfroma voluntarycharityto one with a core
team of paid staff. This was approved by the board as a one-offpayment.There were no other related party transactions in
the year.
```
```
Page 16
```
```
NATIONAL POETRY CENTRE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025`**
|**`INCOME AND ENDOWMENTS`**
**`Charitable activities`**
`Grants`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Wages`
`Social security`
`Pensions`
`Rates and water`
`Insurance`
`Postage and stationery`
`Advertising`
`Sundries`
`IT support and web costs`
`Travel and accommodation`
`Consultancy`
`Creative and Heritage development projects`
`Depreciation of tangible fixed assets`
**`Support costs`**
**`Governance costs`**
`Accountancy and legal fees`
`Total resources expended`
**`Net income`**|`2025`
`£`
**`393,415`**
**`393,415`**
**`91,331`**
**`4,780`**
**`1,759`**
**`6,600`**
**`1,359`**
**`261`**
**`3,143`**
**`605`**
**`1,627`**
**`1,620`**
**`15,561`**
**`198,225`**
**`231`**
**`327,102`**
**`5,410`**
**`332,512`**
**`60,903`**|`2024`
`£`
`120,000`|
|---|---|---|
|||`120,000`
`18,793`
`-`
`144`
`1,350`
`483`
`109`
`5,348`
`498`
`3,507`
`1,262`
`40,679`
`-`
`-`|
|||`72,173`
`3,725`|
|||`75,898`|
|||`44,102`|
```
This page does not form part of the statutory financial statements
```
```
Page 17
```