Registered Charlty Number
1002269
Registered Company Number
2589184
Prema
Company Limited by Guarantee
Report and Accounts
ForThe Year Ended
31 March 2025
Number Hut Llmited
Chartered Certrfied Accountants
13 The Green, Uley, Dursley, Gloucestershire, GL115SN

Prema
Report and accounts
For the year ended 31 March 2025
Content5
Pag8s
Report of the Council of ManagementlDire¢tors
Independent Examinerfs report
Stat8ment of Financial Activities
10
Balance sheet
11
Notes to the accounts
12-22

Prema
Report of the Council of Manag6ment
For the year ended 31 March 2025
Introduction
The Council of Managemenl, who are also Di￿¢10[$ for the purposes of the Companies Act, have
pleasure in presenting their annual report and unaudited financial statements of the charity for the
year ended 31 March 2025.
Reference and Adminstratlve Infomiatlon
Charlty name
Prema
Company Registratlon Number 2589184
Charlty Reglstratlon Number
1002269
The Reglstored Office is
Bethesda Chapel
Uley
Dursley
Gloucestershlre
GLI 15SS
Councll of Management
Corina Coombs
Richard Edmunds
Karen Hilliard (member and Company secretary)
Laura Nicholas (Chair from 21 October 2024)
Dr Simon Oph8r
Atlanta Paraskava
Melanie Paraskava
Sophia Price
Janette Wallace
Emily Batker (appolnted 28 April 2025)
Kim Lawrence {res¢gned 22 April 2024)
Katie Norton (resigned 21 October 2024. Chair to 21 Oclober 2024)
Independent Examlner
Anita Buckley
Number Hul Limited
13 The Green
U￿Y
Dursley
Gtoucestershire
GL11 SSN

Prema
Report of the Council of Management
For the year ended 31 March 2025
Stwcture, Governance and Management
The company is established as a company Ilmited by guarantee and is registered with the Charity
Commisston. The affairs of the company are govemed by its memorandum and articles of association.
The liability of the members in the event of the company being wound up is limited to a sum not
exceeding £1.00.
General
The fomier'Pr8ma Projéct" exis18d to Ov8￿@e the assels of the Prema TNst {shar8s and investments
and their building, Bethseda Chapel, which is used by P￿ma for its business>- During the Financial
year 199617 the Prema Project took the decision to 'wind up, and to sign over all of tts assets to
Prema, thus making both the Chapel and the monies invested, the property of the trading company.
At the AGM in November 1997, il was agr88d the shares now owned by th8 ¢ompany should be
cashed in and the money be Invesled in the existlng COIF account. Thls "nest egg" was then
invested in the fabiic of Bethesda Chapel as part of a major refLrrbishment programme in FY 2015116,
Prema is overseen by a Council of Management- independent people who either have a specialist
working know18dge in the area of Prema's trade, or those who have significant linkslunderstanding of
local politics and how P￿ma might be best posiltoned to enjoy a hoalthy, continu8d funding
relationship with existing investo￿. The members receive no remuneration for their time investment in
Pr6ma - the Council does not take expenses, it relies solely on goodwill and belief in the misslon of the
organisation.
Recrultment and appolntment of new members ol the Councll of Management
The Council of Management holds ils AGM each Autumn. New members to the committee are actively
recnJit8d (via the existing board andlor staff). The Council of Management seeks lo bring individuals
onlo the board who have a specialist knowledge or experience which would lend itself well to Prema's
operation and plans for future development.
Objectives and Activities
Prema exists to allow the community lo interface with qu81ity arts activities through a programme of
creative opportunities and cultural exp￿sSiOn. The programme embraces an ambitious education
progrdmme of wort(shops, weekly classes and seminars as well as an impressive outreach programme
which offers dynami¢ arts opportunities lo schools and community & health organisations within
Gloucestershire's administrative boundaries land farther afield too).
In addÉtion to its prominent educalron programme, Prema is a Centre of Excellence for conternporary
and emerging artforms. Art5 Council England - South West (Prema's largest single investor) has
included this organisation in its portfolio of funded organisalion (NPO - National Portfolio Organisation)
in recognition of Prema's strategic developmentsl role for emerging artists and arts practices. This role
is deliverEd via a programme of Perfomiance, Physical Theatr&, New Dance and Installation based
visual art and all the hybrids between established and emerging artforms. ACE ISW) also maintains
investment in Prema by way of supporting the full partlCIP8tory and education programmes delivered
by the Centr8.

Prema
Report of the Council of Management
For the year ended 31 March 2025
Prema also receives grant funding from Stroud District Council, cuffently £5,000 per annum, It should
ba noted that the current investm6nt is less than one third of the Council's investn￿nt in the mÉd
1990s. This action was taken due to the compulsion for all local authorities to dramatically reduce their
investments and costs in the light of economic downlum and global recession. It is for this reason that
p￿rna has sought to diversify its own eamed income streams and to become less reliant on grant aid
however, the size of this organisation, its tural location and the ratio of quality vs. afforability means
that Pr&ma ts (and ￿11 continue lo be) unabte to function without the investment from Arts CoLfjncil
England and other grant-rnaking bodies.
Pr8ma's administrative base is Bethesda Chapel, South Street, Uley, Dursley GL11 SSS. We promote
8 targe number of events at the C8ntre itself. but we also have a growing demand to promote activities
in other venues- often in partnership wilh other promoters. Our schools oulreach programm8 IS V8ry
popular and we (in acc(Jrdance with sugg8Stion from SDC) have Wo￿@d in partnership with other
venues and community organisations to offer affordable, accessible. rt)bust ¢￿alIve programmes for
members of the community lin its broadest contexl) and to p￿rnOte dev81opmental, challenging
projects and events which respond to the cultural pa18tt8 of the locality, but also to show tomorrows
mainstream today.
Achlevements and Perfomiance
Developments, Actlvitles and Achievements during the year
2024-25 has maintain8d a palh of marf<8d uncertainty, not just for Prema but for the econorny
throughout the UK. From Prema's perspective. this un¢ertainty is most apparent when looking at levels
of eamed income in comparison to pr8vious years. Household budgets are getting tighter by the
month with soarrng food prices, stagnating salary levels and almost every business n88ding lo rais8
their costs, simply to stay afloat.
In previous years, much of oureducation and participatory programme operated at full capacity,
tuming 8 faidy profit each year. As FY 2024-25 has p￿greSsed, we have se8n many of these activities
barely Covering their costs due to lower enrolments alongside a decision from this organisation to not
drastically raise the prices of our activities (maintaining an affordable programme and to ensure that
We'￿ able to reach a broader, mora div8rs8 audience from across our whole community.
We have nolic8d an emerging pattem that people now leave booking tickets or enrolling on a class or
woikshop until the very last minute (sometimes, just 24 hours before the promoted event). This results
n tjs needing to "hold our nerve" on a regular basis, hoping thal the bookings wlll arrive in the fin8110
days before the activily takes place.
This phenomènon is s8en throughout th6 UK, especi815y with the smaller, independent venues such
as our arts ¢entre. The pattem is seen throughout Europe, USA and Canada, Australia elc. The way
in which audiences engage with culture seems forever Changed following the Covid pandemic in
2020121 and now the cost of living emergency across the Wofld.
Artists, makers & craftspeoplè are reporting that sales of their worf( to the public are at an all-ti￿￿ low
1300/,-500kn down on 24 months ago) and those who a￿ buying art seem to favour smaller, cheaper
items.

Prema
Report of the Council of Management
For the year ended 31 March 2025
In November 2022, we leamt that our application to ACE for NPO (National Portfolio Organtsation)
funding had been successful and that we were to receive a standstill sum of £70,532 per year from
April 2023 until March 2026, at which point we would need to reapply to maintain our place within the
portlolio. As a direct result of the insecure economy, ACE has extended ils comrvmtment lo NPOS until
March 2027. Subsequently, this has been further extend6d to March 2028 (pending an application
process in eady 2026).
It should be acknow18dged that a standstill in core investment from ACE, a standstill in funds from
Stroud District Council and those fund8rs demanding more from their investment, it can appear that
arts organisations are fo￿Ver needing to run faster, just to sland still (and in some case running faster
to slowly sltde backw8rdsl.
We continue to build relationships with other sectors to help extend Prema's ￿8¢h, build new
audiences and to bring new inwattl investment into this small, detenT¢ined charity.
Prema, being a small and comparatively fleet-of-foot organisation can readily modify its Operation to
meet demand and experim8nt with methods of delivery. We continue to have a dedicated audience
which enjoys and supports the diversity and b￿adth of our programme. In response to research and
dialogue with otjr use￿, we seek to promote a greater number of shorter, signrficantly cheaper
actlvities to attract larger, more reliable audiences. However, the58 require just as many staffing
resources - once again, running faster to stand still. There is a feeling across the sector of "if we can
just weather the storm until consum8r confidence grows again
Right now, Prema 18 in the more-fortunate-than4nany position that we have 8[￿adY streamlined 8V8ry
aspect of our expenditure to make the organisation as lean as possible, existing on jusl 2.2 staff (full-
time equivalent) to manage a programme many times larger and more complex than other arts venues
with 4 or 5 times the number of core staff.
Cuffently Prema's staffing structure is:
Artistic Dire¢lor {full-timel
Education Officer (part-time - 0.6)
Tachnical Officer (part time - 0.4)
Book-keeper (part4ime - 0.2)
Pr&ma is proud to maintain a robust and successful programme of events which attracts over 70,000
people each year both in visiting our venue but also In our"peripat&tic Prema. programme where we
lake our brand of'quality & innovation" out on the road to work in partnership with other organisations
and in the heart of the communtiy.
Going concern
As we experience trying financial times in Ihe UK alongside an increasingly politicized culture, the
certainty of continued core funds for Prema looks increasingly shaky. AS reported above,
Gloucestershire County Council have disinvested from all but their essential services and the stabilily
of investments from Stroud Distftct Council Is somewhat fragile. The certainty of monies from Arts
Council England matched with a reduction in staff wotking hours means Ihal we can look forward to a
future - one whtch is far from certain - but a future nonetheless.

Prema
Report of the Councll of Management
Forthe year ended 31 March 2025
Risk
As highlighled above. Ihe future looks uncertain. This is not particular to Prema every arts
organisation in England, Wates and Scotland is experiancing similar financial problems due to the
effects of the pandemic. Prema is a relatively admin-light organisation. Being small and independent, it
m@ans that Prema can quickly and effectively change or adapt to the funding climate. Its brand is
strong, Éts programme evèn stronger and we belseve that thff)ugh careful planning and robust
communiGation wth our peer organisatlons and funders, that we may still look fo￿a￿l to a long and
healthy future.
Fundraising
Prema has continued to WOTk with other arts organisations in Ihe county lo boost fundraising capacity
and skills so that we are able to build projeGt5 and initiatiV8s as well as exploring a more sustainable
seam of incoma. We fundraise through a variety of means - a peffnanent coltection box on site,
personalised letlers sent lo thos& who ar8 frequent users of the arts centre and also developing
relationships wth 'high-worth individu81s' who have an established reputation as benefactors for
particular cr8atlV8 or communilv-based proiects.
Donations wKre minimal in th8 y8ar to 31 March 2025, at a similar18V81 to the prior year, All don8tion$
that were received In the year have been included within unrestricted funds.
Flnanclal review
Reserves
The financial stalements are set out on pages 9 to 22. As shown in the Stat8m8nt of Financial
Activities schedule, there has been net income in the year of £5,044 (year ended 31 March 2024.. total
nel expediture of £8,572).
In addition, there was net expenditure in the year of £8,332 lyear ended 31 March 2024 '. net £8,343)
in expendable restricted fundsldeferred income, as shown in note 18, relatijng to the 8mortisation of
All funds continue to have positive fund balances at the y@ar end, with cumulative charity funds
totalling £533,419 at 31 March 20251£536,707 at 31 March 2024).
The Council of Managemont consider unroslricted funds not committed or invested in langible fix8d
assets held by the charity are adequate, and will continue to monitor transactions with the aim of
retaining sufficient ￿Serv&S for Ihe futurè by both investigating ways of increasing income and
reducing costs.

Prema
Report of the Council of Management
For the year ended 31 March 2025
Unrestricted fvnds
During tha yèar ended 31 March 2025 there was net income of £8,935 in un￿striCted funds {net
expenditure of £4,681 in the previous yearl.
The rrrf)vement from the net income can be considered as being atlribuled to modest increases in
income from charitable activities, trading activities and other income, accompanied with Savings where
possible in expenditure. As noted last year, every aspect of expenditure has continued to be
constdered and reduced wher8 possible.
Unrèstricted funds held at 31 March 2025 totalled £124,448, increased from £115,513 held at the
previous ye8r 8nd.
Restricted funds
Restiicted funds comprise National Lottery funded assets, grant and donatton funded building worf(s,
piano bursary and grant incom8 r8ceived from Create Gloucestershir8 relating to the "Off we go"
project and a UWE project.
There was net expenditure within fBStricted funds of £ 2,691 in restricted Nalional Lottery and
donatlon funded building works restricted funds, £8,332 in the expendable restricted fundld8ferred
income (see note 18} and £1,200 in endownment funds in the year. Net expenditure can be
attributed to the continued depreciation of the fixed assels that were orginally fund8d by reslrict8d
funds and the amortisation of restricted grants to match incoff£ or activitiy in the year.
Total restricted and endownment funds held at 31 March 2025 was £408,971, reduced from £421,194
held at 31 March 2024.
Specific changes in fixed assets
Changes in fixed assets are shown in detail In the notes to the accounts. There were no additions or
disposals of r￿ed assels in the year.
Share capital
The company is limited by guaranlee and therefore has no share capital.
Independent examlner
There has been no change of independenl examiner during the year, which remains as Anita Buckley
from Number Hut Limited.

Prema
Report of the Council of Management
For the year ended 31 March 2025
Statement of Responsibilities of the Council of Management
The Charities Act and the Companies Act require the Council of Management lo prepare financial
statements for each financial year which give a true and fair view of the state of affairs of the charity as
at the end of the financial year and of the surplus or defictt of the Charity. In preparing those ftnancial
statements the Board is required to :.
select suitable accounting policies and then apply them consistently-
make judgement5 and estimates that are reasonable and pnjdent;
prepare the financial statements on the going concem basis unless It is inappropriate lo
presume that the charity wdl continue in business
state thether applicable accounting standards and statements of recommended practice
have been followed, subject to any material deparlures disclosed and explainerj in tho
financial statements;
The Council of Management are also responsible for maintaining adequate accounting records which
d isclose with reasonable accuracy at any time the financial position of the charity and which are
sufficient to show and explain the charily's transactions and enable them lo ensure that the financial
statements comply with the Companies Act 2006 and comply with regulations made under the
Charities Act. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable sleps for the prevention and detection of fraud and other irregularities.
Th8 Council of Management are 81so responsible for the contents of the their report, and the
responsibility of the independent examiner in relation to the CounGil of Managements, report is limited
to examining tha report and ensuring that , on the face of the report, there are no inconsistencies with
the figures disclosed in the financial statements.
Method of preparatlon of accounts
The Council of Manag8m8nl have adopted th8 provisions of Accounting 8nd Reporting by Charities .
Staternent of Recommended Practic8 applicable to charities preparing their accounts in accordance
with the Financial Reporting St8nd8rd applicable in the UK and Republic of Ireland "(FRS102)
(effective 1 January 2019).
Approval
This report and the annual accounts were discussed at a meeting of Ihe Council of Management and
were approved by the Council of Management or¢ 20 October 2025.
Karen Hilliard
Member of the Council of Management and Company Secretary
Date 11 December 2025

Prema
Report of the Independent Examiner to the Councll of Management
on the accounts of the Charity for the year ended 31 March 2025
I report on the financtal statements of the Charity for the year ended 31 March 2025 which are set out
on pages 10 to 22.
Respective responslbllities of Council of Management and examlner
The charity's Council of Management (who are also the directors of the company for the pu￿OSe$ of
company lawl are responsible for the preparation of the accounts. The charity's Council of Management
consider that an audil is not required for this year under section 144{2) of the Chaiilies Act 2011 (the
2011 Ch8fiti8s Act). and that an independ6nt examination is needed.
l am qualified to undertake the examination by being a qualified member of the Chartered Association
of Certified Accountants.
Having satisfied Myse￿ that the charity Is not subject lo audit under company law, or Othe￿ISe, and is
81igibl8 for ind8pendent examinatton, it is my fesponsibiltty to-
examine the accounts under section 145 of the 2011 Charities Act,
to follow the procedures laid down In the general Directions given by the Charity Commission under
section 145(51(b) of the 2011 Charitias Act, and
to state whether partlcular matters have come to my attention.
Basis of Independent examlnerfs report
My examination was carried out in accordance wlth general Directions given by the Charity Comrnission.
An independenl examination includes a review of the accounting records k&pt by the Charity and a
comparison of the accounts presented with those records. It also wicludes Gonsideration of any
unusual itèms or disclosuros in the accounts, and seeking explanations from the Council of
Management conceming any such matters.
Th8 proc@dures undertaken do not provide all the èvidence that WOLEld be required in an audit, and
consequently no opinion is given as to whether the accounts present a 'tnJe and fairf view and the
report is limlted to those matters sel oul in the next statement.

Prema
Report of the Independent Examiner to the Council of Management
on the accounts of the Charlty for the year ended 31 March 2025
Indèpendent examinerfs statement
In conneclton with my examination, no matter has Gome to my attentton:
(1) which gives me reasonable cause to believe that in any material ￿spect the requirements..
to keep aGcounting records in accordance wÉth sectFon 386 of the Companies Act 2008 and
lo prepare accounts which accord with the accounting fycords, ¢on¥)ly wÉth the accounting
requirements of So¢l￿n 396 of the Companies Act 2006 and with the methods and principles of the
statement of Recommended Practice: Accounting and Raporting by Charities
have not b86n met or
(2) to which, in my opinion, attention should be drawn in Ofder to enab18 a proper und8r8tanding of the
accounls to be reached.
Anita Buckley
Number Hut Limited
13 The Green
Uley
Dursley
Gloucestershire
GL115SN
Date 11 December 2025
Relevant professtonal qualificationls) or body..
FCCA (Fellow of Ihe Association of Chartered C8rtrfied Accountants>

Prema
Statement of Financial Artivities
for the year ended 31 March 2025
Unrestrl¢tod
nds
ReSt￿cted Endowment
Jnds
funds
Totsl this
year
2025
Tolal last
year
2024
Note
2025
2025
2025
In¢omo:
Donaltons and legacles
Income from chaiitable activites
Income from trading aclivites
Investment income
Other income
Totsl In¢om8
78.403
41,860
23.012
862
500
144 637
78.403
46,957
23,012
862
78.892
43.371
18,159
578
6,988
147 988
5,097
157412
Expondlture
Costs of raising funds
CharitabF8 activlliès
Olhor
Totsl oxpondlluro
10,143
125,559
10.143
142.225
10,562
145.998
15,466
1.200
135 702
152 368
156,560
Not Incomo1oxpendSture
8,935
2,691
1,200
5,044
8,572
Tran$fer$ bfrtwoen fvnds
Other rocognlBed galnsl(108$osI
Net movement In fund$
19
Recon¢lllatlon of fvnds
To181 funds brought fomard
115,513
109,609
79,200
304,322
312,894
Total fvnds carrlgd forward
19
124 448
106 918
309 366
304 322
The nel movement In funds refeTred to above Is the net incomlng resources 8s deftned In the SORP and Is
reconcililed lo the total lunlls as shown in tho Balance Sheet on page 11 as required by the SORP.
All income and expenditurè dorwos from continuing aclivili¢s.
The 51atemenl of ftnancSal a¢livltie$ Includes all galns and losses recognlsed in the year.
The notes on pag8s 12 10 22 fom an inlegfal part of these accounts.
10

Prema
Company number
Balance Sheet
as at 31 March 2025
2589184
Unr88tr1ct•d
nds
2025
R•strlcted Endowmenl
fi&nd8
funds
2026
2025
Tol81 th18
year
2025
Total la8t
year
2024
Flxed a$$•ts
Tanglbltr 05sets
3t,792
330,444
78,000
440,236
452,809
Curront assots
Stock
D8bto
Ca$h at bank and In hand
Tothl currenl Jss•ts
6,117
95,923
102 040
6,117
3,587
527
$27
102 587
Llabllltl•s
Cffjdiiors". arnounts lawng due wlhln
ono y8ar
9,384
9.384
13,044
Ng1 curront•$$•ts/{Il•blllllos)
Total n•t ass•ts
527
330 971
124,448
533419
536 707
Fund$ ofth• CharFty
Unrestrfct8d funds
D8553naled funds
Expendable rgstrict&d lundld$l$rrod
Incomo
Restricted Incorne funds
Endowmts#t lunds
96,223
28,225
96,223
28,225
86,553
28,960
224.053
224.053
232,385
106.918
106,918
78,000
109.609
79,200
78,000
Total charfty
t9
124448
330 971
S33419
S36 707
For the 1Sn8n¢lo1 yoÉr ènd8d 31 March 202S. lrta chBdtabl& company was 8ntitlod to oxomplh)n from audlt undei soctlon
477 of th¥ Componlg8 Act 2006, and no notlc• has been deposlt6d under Sectlon 476 01 the Act.
Tho Councll ol M8nagenwnt ackno￿Odge Ihelr msponsibillty lor 8nsisring th8¢ th& ch#rlty k8•p$ &¢¢ounllng r¢¢ord$
whlch comply wlth se¢llon 386 01 th? Act, and for prèparfng accounts whlch glva a tru• and fairv￿W ol th* state of affalrs
ol the charity as at the end ol the fin8n¢ial yg8r 8nd of *ts pft>fii or b$$ lor tho Ilnancial ygèr in acco￿anCe w￿h tho
r8qulien*nls 0¢ section 394 #nd 395 and whkh ￿ther￿tr cornply Wlh th¥ r•qu1￿m￿nIS of tho Companles Act 2006
rel8tlng lo accounts, so far applicable to the ch8r¥ty.
Thèse accounts have been preparnd In accordance with the spec￿1 provlsions relatlllg to srpall coMpan￿S wthin Part 16
ol the Companies Act 2008 and with the Financial Reporting Standard lor Sm8119r Entttbs1off&cllv& J8nuAry 201 $1 and
thts Statemnt ol R8commend8d Practice appllc8ble to charitles.
Approvgd by tho Cound ol Managomont on 20 October 2025 and on Its boh8lf by
Laura Nlcholas
Member of tho Coun¢ll of AIAnagom•nt and Chalr
Oate 11 Uecember 2025
Th6 notes on pages 12 10 22 lorm an lThtegral part of these accounts.

Prema
Notes to the Accounts
for the yoar •nded 31 March 2025
l Accounting pollcle$
Basls of prep8r8llon of the accounts
The financial statements have been prepared in accordance v*th Accounting and Reporting by Charities-
Statement of Recommended Practice ISORPI applicable to charites p￿Paring their accounts in accordance
with the Financial Reporting Standard for Smaller Entities. the Financial Reporting Standard for Small&r
Entities (FRS 1021 and the Companies Act 2006.
Accountlng conventlon
The financial statements ar8 prepared.on a going concem basis. under the histOriC81 cost eonvention.
Ass6t$ and liabilities are inilially r&cogntsed at historical cost or transaction value, unless otherwise slated in
the relevant accounting policy nole{sl.
Incomlng Resources
Incoming resources are accountèd for on a r&c8ivabl8 basis.
Invèstment Income
Bank intor681 ts included in the income and expenditure account on a receivable ba81S.
Grant Income
F￿&d assets acquired wllh grant assistance are stated at cost and depreclated over their useful economic
INes. The rec91pI of th8 grant is recorded as a restricted fund in the statement of financial activities.
Depreciation ch8NJed on fixed assets purch89ed by grant money is shown as expenditure out of the
restricl8d fund,
Recognltlon of118bllltl•s
Liabllitles are recognlsed on the ac¢wals basis In accordance with nomig18ccounting princip18s, modified
where necessary in accordance with th8 guidance given in tho SORP.
Resources Expended
All expendilure is included on an accru81s basis and is recognised when there is a Iggal QT constructive
obligation to pay for expenditure. Charitable expenditure includes both direct costs of the programmes and
support costs relating lo these activities. Govemance costs include those costs incurred in the govorance of
the charity and its assèts and are primari￿ those assoctated with conslilulional and statulory requirements.
Support costs include central functions and are those fun¢lions that assist the Work of the charity but do not
directly relate to charitable activities.
The allocation and apportionment of costs between charilablo activities, govemance and support costs is
based on the ¢Jse of e8ch specific resource.
Flxed assets and depreclallon
All tangible fixed assets are stated al historical cost less deprecialion.
Website development costs have b6&n Ggpitalised as a tangible fixed asset in accordance with FRS 15 and
UITF abslTrct 29. It is considered reasonably certain that tho website will generate future economic ben8fi1
at least as great as th& amount capitalised over its anttcipated useful lrfe of 5 years.

Prema
Notes to the A¢¢ounts
for the year ended 31 March 2025
1 A¢¢ountlng pollcfes, continuèd
Depreciation has been provided at the following rates in order to write off the assets (less their estimated
residual value) over their estimated useful economic lives.
Freehold land
Buildings
Fixtures and fittings
Websita
2010 slraighl line basis
20010 reducing balance basis
20% straight line basis
Stock
Stock Ss included at the lower of cost or nel realisable value.
Debtors
Trade and olher debtors are re￿gnised at the settlemgnt amount duè 8ft8r any trade dlscount offered.
Prepayments ar& valued at the amount prepald after taking account of any trnde discounts due.
Crodltsr$ and pmvlslons
Creditors and provisions af6 recognised where the charity has a ptBsent obligation resulting ffom a past
event that will probably result in the transfer of funds lo a third party and the amount due to Settle th8
obli9atton can be rneasured or esllrnatgd reliably. Creditors and prov¢slons are nomialty recognisèd at thèif
settlement amount after allowing for any trade discounts due.
Taxadon
As a regist6red charfty, the company 15 8xempt from incom8 and cory)or8tion lax to the extent th81 ils income
and gains ar8 applicable to charil8ble purposes only. Value Added Tax is not recoverable by thè company,
and is thèrefore included in the relevant costs in the Statement ol Financial Activities.
Funds $truoture poll¢y
The charity maintains 8 g6ner81 unr&strict6d fund which represents funds whtch are expendable at th8
discretion of the trustees in ftsrtherance of the object5 of the charity. Such funds may be held In order to
financo both workinq capstal and capital Investment.
Restricted fund$ have be6n providèd lo the charity for particular purposes, and tt Is the policy of the board
of tnjstees lo carefully the monitor the applicatlon of those fund5 in accordanc8 with the restrictions placed
upon them.
There is no fomial policy ol transfer between funds or on the allocation of funds to designated funds, other
than that described above.
2 Winding up or dissolutlon of the charfty
If upon winding up or dissolutton of the charity there remain any assets, aller the salisfaction of all debts
and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable
body or bodies having similai objects lo the charity.
13

Prema
Notes to the Accounts
forthe yearended 31 March 2025
3 Income from donatlons and legacles
Unrestricted
Funds
2025
Re$tri¢ted
Funds
2025
Total
Funds
2025
Last year
totsl Funds
2024
Grants..
Stroud District Council
Arts Council
5,000
5,000
5,000
75,532
75.532
75,532
Friends membershlp
Donations
834
2,037
834
2,037
900
2,460
4 Income from charftable actlvltles
Unrestricted
Funds
2025
Restrlctsd
Funds
2025
Total
Funds
2025
Last year
total Funds
2024
Tickèts for perfomiances
Classes
Workshops
Create Gloucestershire "Off we go.
UWE Projecl
11,917
16,270
13,873
11,917
16,270
13,673
653
4,444
12,118
13,196
16,203
1,854
653
4,444
5 Income from other tradlng a¢tlvltles
Unrestrlcted
Funds
2025
Restrlctsd
Funds
2025
Totsl
Funds
2025
Last year
totsl Funds
2024
S81e of dresser goods and seasonal
Sale of art
Rent income
Project management income
Create Gloucestet3hire re intems
5,030
8.839
6,338
2,805
5,030
8,839
6,338
2,805
5,653
6,640
5,240
626
23,012
14

Prema
Notes to the Accounts
for the year ended 31 March 2025
6 Investment Income
Unrestrictsd
Funds
2025
Restricted
Funds
2025
Total
Funds
2025
Last year
totsl Funds
2024
Bank deposit Inte￿$1 re¢eived
862
862
578
7 Other Income
Unrestricted
Funds
2025
Restricted
Funds
2025
Total
Funds
2025
Last year
total Funds
2024
Capital grant amortisation
Revenu8 grant amortisatlon
Oth8r rev&nue grant rÈceiv8d
5,588
5,588
5.588
900
500
500
500
8 Expendlture on ralslng funds
Unfe$trl¢tsd
Fund$
2025
Restric*Èd
Funds
202S
Total
Funds
2025
Lastyear
total Funds
2024
Staff costs
Other fundraising expenses
10,143
10,143
10,562
10,143
9 Expendlture on charltable actlvltles
Unrestrictèd
Funds
2025
Restrlcted
Funds
2025
Totsl
Funds
2025
Last year
totsl Funds
2024
Porformance and evonls costs
Sale of art costs
Wothshop costs
Staff costs direct costs
Piano Butsary costs
Create Gloucestershire "Off we go"
UWE Project
9,414
3,342
16,680
33,810
9,414
3,342
16,680
33.810
2,090
653
10,747
16,895
35,207
900
1,854
2,090
653
63,246
7,187
70,433
65,603
Govemance costs
Support costs
18,465
43,848
18,465
53,327
20,032
60.363
9,479
125,559
142,225
145,998

Prema
Notes to the Accounts
for the year ended 31 March 2025
10 Govemance and support costs
Unrestrlcted
Funds
2025
Restricted
Funds
2025
Total
Funds
2025
Last year
totsl Funds
2024
Governan¢e costs:
Staff ¢osts
Rates, insU￿nce and licences
Heat, light and cleaning
Repairs and renewals
Generdl office costs
Independenl Examiner Services
Bank and card chaffJes
10,142
1,352
2,898
688
1,944
850
611
10,142
1,352
2,898
668
1,944
850
611
10,563
1,421
3,948
898
1,685
850
687
Support costs:
staff costs- support
Dr8ssar and other materials costs
Catering costs
Marketing and advertising
Consultancy
Exhibittons costs
Travel
Heal, light and cleaning
Repairs and renewals
General office costs
Rates, insurance and licences
Other Charitable expenditure
Bank and card char9es
Depreciation of buildings
Depreciation of fixtures and fittings
Lossl(profit) on disposal of fixed asset
13,524
5,306
111
856
13,524
5,306
111
856
14,082
5,307
108
2,929
3,513
131
6,762
1,560
4,408
3,152
3,513
131
6,762
1,560
4,408
3,152
4,966
162
9,213
2,096
3,936
3,316
1,427
700
2,398
1,427
10,160
2,417
1,557
10,160
2,531
9,460
19
The allocat￿n and apportionment of costs be￿&¢n goveman¢e and support costs as set out above is
based Ihe use of each specific resourcè.
16

Prema
Notes to the Accounts
for the year ended 31 March 2025
11 Other expendlture
There were no items of expenditure that was neither related to raising funds for the charity, nor part of
ils expenditure on charitable activities.
12 Net Incomelexpendlture for the year
2025
2024
The peKentage of incorne accruing outside the United Kingdom was
The net Incomelexpendlture for the yèar 18 ststed after charglng:
Depreciation of owned fixed assets
Independent Examiner .' Independent Examination
12,577
850
12,691
850
See note 20 for details of expenses paid to tnjstees or persons connected with them,
13 Slaff costs and emoluments
2025
2024
Gross Salaries '. staff
Employerfs Nalional Insurance
Employerfs penslon contrfbutlons
66,354
69,137
1,265
1,277
Numbers of full tirne employees or full tim8 8quiVa￿ntS
2025
2024
Engaged on charitable activities
Engaged on fundraising activities
Engaged on management and administration
There were no employèes wlth emoluments in excess of £60,000 per annum.
See nole 20 for details of salary paid to tnjstees or persons connect8d with them.

Prema
Notes to the Accounts
for the year ended 31 March 2025
14 Tanglble flxed assets
Freehold
Land and
buildlngs
Flxtures
and
equipment
Websits
Total
Assèt cost, valuation or rèvalued amount
At 1 April 2024
538,007
Additions
Disposals
At 31 March 2025
106,399
15,456
659,862
538,007
106,399
15,456
659 862
Accumulated depreclatlon and Impalrment provlsions
At 1 April 2024
91,440
Charge for the year
10,160
Eliminated on disposals
At 31 March 2025
100,157
2,413
15,456
207,053
12,573
101600
102 570
219626
Net book valu8
At 31 March 2025
436 407
440,236
At 31 March 2024
446 567
452 809
All assets are used for direct charitable purposes and there are no inalienable or heritage assets.
Thera were no fixed asset additions in the year ended 31 March 2025.
Significant buildings additions took place in the year ended 31 March 2016 and are belng depreclated
over an estimated useful life of 50 years. The grants received to fund the building woths have been
included as deferred incomè (see notè 18) and arè also being amortised over the same 50 year
period.
The historic buildings cost bFDught foward were also depreciated in the thal year, on the same basis,
assuming an estimated useful life of 50 years, and contlnue to do so.
15 Stock
2025
2024
Goods held for sale

Prema
Notes to the Accounts
for the year ended 31 March 2025
16 Debtors
2025
2024
Trade deblors
Other Deblors
Prepaid expenses
AccnJ&d income
3,811
1,713
593
1,454
1.672
461
3.587
17 Credltors: amounts falllng due wlthln one year
2025
2024
Trade creditors
Ac¢rued expenses
Deferred income
Taxation and social security
other creditors
822
5,367
2,399
616
180
826
4,355
7,009
610
244
18 Expendable restrlctad fundldefarred Income
At 1 April
2024
Recelv8d Amortlsatlon
In the year
harg•
At 31 March
2025
Capital grants:
Summerfield Charilable Trust
GloUcesle￿hlre Envlronmental TNst
Arts Council England
24,600
27,313
177,239
600
666
4,323
24,000
28,647
172,916
Revenue grants:
Piano bursary
Create Gloucestershire 'Off we go"
UWE Project
2,580
653
2.090
653
490
232 385
4,444
224,053
Gr8nts of a capital nature were received in Ihe year ended 31 March 2016. They have been included
in the balance sheet as deferred income and are being written off over Ihe life of the assets to which
the grants felate. Amortisation of the grants has been calculated al 20/0, wrilting off the grants over a
period of 50 years, matching ihe deprectation of the building works.
A revenue grant was received in the year ended 31 March 2019, which is to be used to provide piano
lessons to children who othefwise would not be able to afford them. The income is being amortise¢J
matching the costs of the piano lessons.

Prema
Notes to the Accounts
for the yearended 31 March 2025
19 Movements In and analysls of Funds
At 1 April
2024
Incoming
resources
Outgoing
resources
At 31 March
2025
Unrestricted Funds
Restricted Funds
Expendable rèstrictedldef8rred tncomi
Endowment Funds
Total Funds
115,513
109,605
232,387
79,200
536,705
144,637
135,702
2,687
12,775
124,448
106,918
224,056
78,000
533,422
4,444
149 081
152364
UnEslricted funds included above ¢an be further analysed as:
Gèneral
unrèstrlctod
Deslgnatod
funds
Total
unrestrictsd
Incon
Expenditure
Net incomel expenditure in the year
144,637
134967
9,670
144,637
135702
8,935
735
735
Funds brought forward
88,653
28,960
115,513
Funds carrled forward
124 448
The Council of Management designated the balance held at 31 March 2014 in a COIF Chaiities
Deposit Fund acccounl 8S to be used for the specific purpos8 of the planned future building wort(s.
The building work took place in the year to 31 March 2016. The outgoing resources figure 8bove
Restricted funds Can be further analysed as..
SOFA
Nét incomèl At 31 March
expendlture
2025
At l April
2024
Grants
recelved
Restricted Funds
National Lottery Projecl
Donation funded 2015116 build works
66,384
1,632
1,055
2,687
64,752
42,166
106918
109,605
Expondable restrictedldeferred income
Grant funded 2015116 build woths
Piano butsary
Create Gloucestershire "Off we go"
UWE Project
229,154
2,580
653
5,588
2,090
653
4,444
12,775
223,566
490
4,444
232 387
224 056
Endowment Funds
Bethseda Chapel
78,000
The Nation81 Lottery project relates to capital assets acquired out of restricted funds received in an
eadier year, and which a￿ subject to the depreciation policy applying lo the category of asset
20

Prema
Notes to the Accounts
for the year ended 31 March 2025
19 Movements In and analysls of Funds, contlnued
See note 18 forfurther dètails regarding the capitsl grdnts received.
Restrlcted funds Included In the Statement of Flnanclal Actlvltles:
Donations
and legacies
Other income
Expenditure
Nel incomel
expenditure
Natlonal Lottèry Project
Depreciation of buildings
D8preciation of fixtures and fittings
1,617
Grant funded 2015116 bulld works
Capital grant amortisation
Depreciation of buildings
5,588
Donatlon funded 2015116 build works
Depre¢i8tion of buildings
Expendable restrictedldeferred Income . plano bursary
Rèvenue grant amortisation
Piano bursary costs
2,090
2,090
2,090
Expendable restrlctedldeferred income
Revenue grant amortlS8tion
"Off we go" expenses
Off we go"
653
653
653
653
Expendable restrictedldeferred Income . UWE Project
Revenue grant amortisation
"Off we go. expenses
4,444
4,444
Total of all restricted funds
Restrlcted endowment funds included in the Ststsment of Financlal Activltles:
Donations
and legacies
Net incomel
expenditure
Other income
Expenditure
Endowmentfund
Depreciation of buildings
21

Prema
Notes to the Accounts
forthe year ended 31 March 2025
20 Related party transactlons
Transactions with Council of ManagemenUDirectors
No members of the Council of ManagementlDirectors have been paid any remuneration or received
any other benefrts from employment with the charity or a related entity during the year.
Disclosabte transactions that took place during the year,.
Karen Hilliard
Relationship '. mémbèr of thè Council of Management and Company S6cratary
Included in expenditure on charitable activiti&s .' dresser, and other materials costs
152
The above transaction is considered to have been made at arms length and on normal contrd¢tual tern
There was no balance outstanding at the year end.
Transactlons with key management porsonnol
The Council of Manag8ment Considerthere Is one employee who can be ronsidered as k8y
management pe￿onnel. That employee received a salary (included in Ihe figures in note 13), the
reimbursement of expenses patd for personally. and a payment of £2,090 (prior year £900) of self
employment income in respect of piano lessons provided in a¢cordants with thè restricted piano
bursary funds. The Iransaction is considered to have been made at amis18ngth and on nomal
contractual tenns.
There were no other tfdnsactions with, nor yèar end balances outstanding wrth, any other r6tatod party.
22