That's what it says. A story competition where the winner recieves all of the entry fees as their prize. This is being run by FLAIR for Words, see http://www.flair4words.co.uk/
and go to the News page (I think, if not have a look around) for a competition entry form. It's an open theme so no need to write anything new. You've probably got some really good stories lying around and are wondering what to do with them. Now you know.
Give it a go. Good luck.
I entered a competition to win a copy of Catherine King's new saga and heard a couple of days ago that I was a winner. I found the competition on http://patsy-collins.blogspot.com/ where Patsy gives lots of information about competitions.