Company number 02720007
Charty number 1034961
Tho Anvil Trust Llmit
(Limited by Guarantee)
Report and Financial Statements
for tho year •nded 31 March 2026
NNMI
*AEDYC8V5•
2511012025
COMPANIES HOUSE
A18
131
Breckman & Company Ltd
Chartered Certified Accountants
49 South Molton Street
London W1K SLH

The Anvil Trust Llmlted
{Limited by Guarantee)
Cont•nts
Page
Reference and Administrative Details
Tru$tee$' Report
Auditors, Report
9-12
Statement of Financial Activitie8 (including Income and Expenditure Account)
13-16
Balance Sheet
17
Cash Flow Statement
18
Notes to the Financial Statements
19-31

The Anvil Trust Llmlted
(Limited by Guarantee)
Reference and Administratlve Details
Constitution
The company is a private company limited by guarantee registered in EW - England and Wales, company
number 02720007 incorporated under the Companies Act and ils governing document is its Memorandum
and Articles of Associats'on. The company is a registered charty, number 1034961.
Directors and tNstees
The directors of the charitable company {'The Anvil Trust Limited"} are its trustees for the purpose of charity
law and throughout this report are collectively referred to as the trustees.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated
indirectly into the regular trustees meeting$.
The trustees during the year and since the year end, were .'
G 8risland
S Catl8y (Chair)
O Cubitt (Cllr)
A Frome
A Hargreaves
S Hayward
G Hurry
K John
C Murray
Z Seenan
C Smith
J Whiffield
H Whittam
appointed 19 April 2024
appointed 5 July 2024
appointed 10 October 2025
appointed 19 April 2024
appointed 10 October 2025
appointed 10 October 2025
appointed 10 October 2025
resigned 1 October 2024
resigned 31 January 2025
Secretary
M Cleaver
Chief executivelday to day management
M Cleaver
Auditors
Breckman & Company Limited, 49 South Molton Street, London W1K SLH.
Bankers
Barclays Bank plc. Apex Plaza, PO Box 2881, Reading, Berkshire RX3 2B8.
Registered office and operation address
Churchill Way. Basingstoké, Hampshire RG217QR.

The Anvil Trust Llmited
(Limited by Guarantee)
Trustees. Report
The trustees present Iheir annual report together with the financial statements of the charty for the year
ended 31 March 2025 which arg also prepared to meet the requirements for a directors, report and accounts
for Companies Act purposes.
The reference and administrative details set out on page 1 forms part of this report. The financial statements
comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK ar
Republic of Ireland (FRS 102).
Objectlves and actlvltles
Our Goal
Our goal is to be a creatrvely innovalive, financially resilient, professionally run, nationally r8$pe¢tod and
outstanding organisation. working in true partnership with our public investors and leveraging all the
advantages of being a charitable trust.
Our Vlslon
To be a catatyst for Great Performance - Live, and enhance the lives of those living in, working in, or
vi$iting the 8orou9h of 8asingstoko and Deane.
To be a regional and national example of good practice in support for perfomiing and participatory arts.
Our Alms
To present and support work of the highest qualty in a range of genre$.
To create educational 8nd participatory opportunities that include all members of our community.
To present and create work that celebrates cultural diversity.
To provide the people of Basingstoke and Deane and beyond with a centre of excellence that enhances
the image and repLrtation of the borough.
To provide a seNice that is noted for accessibilty. courtesy and efficiency.
To be an excellent employer.
For the beneflt of:
Those who live in, work in or visit the Borough of 8asingstoke and Deane, the County of Hampshire and
beyond.
Artists and audiences from all sections of society.
Achleved by:
An annual programme of perfomiances, events, and community engagement that is wide ranging on all
levels.
Measured by:
Clearly defined performance indicators that include quantitative and qualitative targets. These include the
numbers of ticket sales and users, postcode analysis of users and commissioned satisfaction surveys.
Public benefft
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity
Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity (PB2)'.

The Anvll Trust Llmited
(Llmlted by Guarantee)
Trustees. Report
Achievements and perfomiance
"One of the most vital arts organisations in southem England."
The Times
The Anvil Trust is a registered educational charity limited by guarantee, whose purpose is to provide
audiences, artists, and communities in Basingstoke and Deane, Hampshire and across the wider catchment
area with positive experiences of a world class arts. entertainment and community engagement programme.
May 2024 was the 30th birthday of The Anvil, and the occasion was marked by a free open day including
participatory backstage tours of the building, with staff across all departments demonstrating and explaining
their work. The event was very successful and e*Xra sessions had to be added to cope with demand.
The Trust commissioned an independent econorn￿ impact suNey, carried out by BOP Consulting, to give
picture of our operation for the first time since the Covid pandemic. The results showed improvements on
every metric since the previous survey ten years ago. Anvil Arts brings 200,000 people into Basingstoke
town centre each year. 660A of Ihe$e say that they would not otherwise visit the town. The number of those
staying overnight more than doubled, and our policy of prioritising local suppliers means that we support the
equivalent of 130 jobs in addition to our own staff. Overall. the survey found that Anvil Arts generates £7.3m
in the local economy every year, equivalent to £14 per £1 of public investment. These impressive results
graphically underline the importance of the organisation to the town and wider region.
This importance was further recognised towards the end of the year, vthen the organisation received a
Mayorfs Award for Anvil Arts, outstanding contribution to the borough for an all year-round programme of
arts, entertainment and community engagement, brtnging business to the t¢)wn"
It was pleasing to see that the proportion of new attenders to a wide range of perfomances remained high
throughout the year as the unique rewards of the live experience continue to be valued. The audience for
the orchestral programme continued to change slowly to include more families and increasing divefsty. We
refined our pre-performance and interval ordering System. and now the traditionally quieter hour be￿een
6pm and 7pm contributes 21¥0 of total bar sales. Product showcases for our local suppliers, and the
programme of live pre-performance foyer music given by local music students continued to be very well
received by audiences and add value to Ihe customer experience.
Some big name performances were welcome additions to the schedule, including Dionne Warwick, Chris de
Burgh. Ricky Gervais. Sir Tim Rice, and blues guitarist Joe Bonamassa on his only Brrtish date of the year.
The pantomime again had a successful year with many sold out performances resulting in record gross
ticket sales. It continues to be an important part of Christmas tradition for families and school and
community groups who may not otherwise visit through the year.
Other notsble perfomances during the year included the first ever visit from the Hallé Orchestra as part of
Sir Mafk Elderfs farewell tour, Chinekel Orchestra bringing the UK premiere of a new piece by Cassie
Kinoshi, Will Gregory's Moog Ensemble showcasing the distinctive sound of vintage synthesizers, and You
are the Sun. bringing opera and music to enraptured audiences of 2 year olds and under. We welcomed
orchestras from Tokyo, Nuremberg and Prague as part of our international work, and marked the 250th
anniversary of the birth of borough resident Jane Austen with a series of talks and performances. At The
Haymarket, finding productions of touring drama at the right scale. and audiences to support them,
remained a difficulty for the whole sector, but the expansion of the pre-christmas programme as an
alternative to the pantomime at The Anvil. with 20 perfomiances across a range of genres, was very
successful.

The Anvll Trust Llmited
(Llmlted by Guarantee)
Trustees, Report
The community engagement and education programme continued to deliver vital experiences for a wide
range of those who might find tt difficult to visit our buildings. The World at Large project visited a school in
one of the most deprived wards of the borough, working with KS2 students to develop perfomances given
to the rest of the school and their families and friends. Simitarly Ihe Musication Station project visited new
settings across the Borough and into Rushmoor and Southampton, including the Bula Festival for the Fijian
community, 8asingstoke Festival, and the Council's Sports and Wellbeing Day, reaching more than 2.600
participants during the year. Career development advice and interview skills continued to be an important
part of the programme, with visits to ten different careers fairs at secondary schools, sixth form colleges and
universities. Our work with people with dementia, their carers and families continued with the Finding the
Words project, and hosting the Singing for Memories dementia choir in The Forge. We were delighted that
Orchestra Unwrapped, the Philhamonia's schools concert, returned to thrill a capacity audience of 8 to 11
year olds with their first experience of a live symphony orchestra.
Our art15tic partnerships remained a key factor in sustaining an ambitious programme. The Philharmonia
Orcheslra, Orchestra of the Age of Enlightenment and Bournemouth Symphony Orchestra brought
outstanding concerts.
Our strategic partnership with Basingstoke and Deane Borough Council continued at the current level of
investment of £395,000. The Council's £1.4m of capital investment in the two buildings for an agreed
programme of works also remained in place. Along with our place in Arts Council England's National
Portfolio until 2027, the longer term of these agreements gives welcome slability.
The Board continues to support inrtiatives by the executlve to broaden the income base of the Trust given
the increasing pressure on traditional funding streams. The 8oard approves the rlsk strategy and receives
regular updates against the risk register. We demonstrate how the Trust fulfils its purpose through a range
of evidence. This includes quantitative indicators, for instance audience and performance figures, and
qualitative evidence of customer and artist satisfaction, and professional peer and critical reviews.
The Trust's role within the community we serve is more crucial than ever. The importance of culture in the
revitalisation and regeneration of the town centre and the local economy. and its positive effects on personal
wellbeing and community cohesion are increasingly recognised. Our appetite for driving the organisation
foThvard, enhancing our partnership working across and beyond the Cuttural sector, and growing our
commercial revenue in order to give the ability to expand our work will be key to enhancing the reach and
stability of the organisalion.
Equallty and dlverslty
Of the 69 people who applied for 2 full-time positions, 54 were whrte British, 5 other white, 3 Chines8, 1
Whrte & Black Caribbean. 18lack African, 18lack British, 1 any olherAsian background and 1 Any other
mixed background.
Of the 368 who applied for 29 permanent part-time positions 292 were White British, 10 White & Asian, 1
White & Black African, 3 White & Black Caribbean, 2 White Irish, 5 Indian, 4 Chinese, 3 Pakistani, 1
Bangladeshi, 6 Black African, 2 Black British, 3 any other Asian background. 1 any other Black background.
7 any other Mixed background, 6 any other White background, 2 Other Ethnic Group, 1 Hong Konger, 1
Pictish.
Of the 2 permanent positions, we appointed 2 while British. Of the 29 pemanent part-time positions. we
appointed 25 white British, 1 any other White 8ackground, 1 Brrtish and Asian, 1 White and Asian and 1
White and Black Caribb8an.

The Anvil Trust Lirnited
(Limited by Guarantee)
Trustees. Report
The population of Basingstoke is 92.90/0 white Britishlother. 40A AsianlAsian British, 1.7°h Mixed ethnic
groups, 1.10/0 BlacklAfricanlCaribbeanlBlack British, 0.3¢/+o Other.
Flnanclal revlew
The statement of financial activities on page 13 shows another year of stable financial performance with
final unrestricted funds of £1,870,884. The balance on the restricted funds stands at £237.027. The
composition of the restricted funds is shown in note 18.
The main sources of income are from the public sale of tickets for perfomances, bar sales, and investment
from Basingstoke and Deane Borough Council and Arts Council England. Basingstoke and Deane Borough
Council provides revenue investment based on an agreed programme of work to be provided by The Anvil
Trust which is defined in its Strategic Partner Contribution Agreement which runs to March 2026. Legislation
requires that The Anvil Trust be charged a fair market rent of £149,250 for The Anvil and £65,000 for The
Haymarket during the year. Basingstoke and Deane Borough Council provided a full rent subsidy to cover
the amounts due.
A number of reserves are in place to fulfil the objectives and 8usiness Plan of The Anvil Trust, in particular
to provide a vehicle for innovation and to both educate and entertain in the provision of great perfomiance.
The Anvil Trust's resenies policy is reviewed annually to confimi appropriateness ol approved levels and
that the policy is being operated satisfactorily. All reserves have appropriate limits and objectives, and
release of reserves is subject to budgeting and prior authorisation.
The foll0v￿n9 main reserves are in place:
Unre8trlcted funds
To seek to maintain a minimum fund level to cover contingency operating issues for the operational fabric of
the buildings (to a maximum of 4 months).
Restrlctod funds
The Musication Station reserqe is the result of public donations from audiences to the pantomime. In
addition, the Graat Music of the World Fund was established to fulfil our strategic aims and ensure that
programming of international concerts can Continue for the foreseeable future. The Great Music of the
World fund has an upper limrt of £400,000 to ensure that reserves are actively used and a minimum level of
£100.000 established to provide sustainable investment. The Linbury Trust contributed almost £35.000 this
year to underpin fundraising work and environmental projects.
Designated funds
Designated Funds have been set up to pay for necessary repairs and maintenance,. a future replacement of
the Steinway piano to meet orchestras, and soloists, expectations; local community programmes across
Basingstoke., programme project$; a commissioning fund for new work,. environmental sustainability-
exceptional utilities costs.. work on inclusion and diversty,. and consultancy. Transfers are made when we
anticipate future requirements. The Board reviews the requirements at least annually.

The Anvll Trust Llmited
(Limited by Guarantee)
Trustees, Report
Risk management
The trustees have overall responsibility for the system of risk management and internal control. The Anvil
Trust has a risk management framework in place. which includes the following..
The trustees monitor prcrfJress against the objectives set out in the business plan and a comprehensive
review of the plan is carried out annually,.
Procedures are in place to identify risks that the eharty may face and the key risks are reported and
reviewed by Ihe trustees. Amendments and updates to the risk assessment register is reviewed at every
board meeting in accordance with Arts Council England NPO requirements., and
Reporting includes the operation of the controls that miiigate risks, including the systems and
procedures in place. Key financial controls include: established authorisation levels for expenditure.
cheque signing and investment, monthly reviews of key financial and operational information.
Through the procedures and reporting in place, the trustees are able to evaluate the effectiveness of
internal controls and confirm that key risk areas are being identified and management controls
implemented.
Future plans
There is no doubt that the continuing strategic partnership with Basingstoke and Deane Borough Council is
essential to the future of The Anvil Trusl. We will be working closely viith the Council to ensure we preserve
and develop the role that The Anvil Trust plays in making Basingstoke and Deane vibrant, successful and
welcoming to those who live in, work in and visit the Borough.
Investment in the arts remains uncertain and the Board supports continuing initiatives by the executive to
broaden Ihe income base of the Trust, with the aim of using increased income to deliver more opportunrties
for all members of the community lo take part in, participate in and create great art and culture.
Structure, governanc• and management
The charty is a company limited by guarantee, and the guarantee of each member is limlted to £25. Th•
governing instrument is the Memorandum and Articles of Association,
The Anvil Trust benefits from a skilled and committed Board of Directors. who are also known as the
Trustees throughout these accounts.
The trustees. who are also the directors for the purpose of company law, and who sep4ed during the year
were..
Mr G Brisland
Ms S M Catley
Ms O Cubrtt
Mr A Hargreaves
Mr S Hayward
MrGSHury
Mr C Smith
Mr J Whitfield
Ms H Whittam
All of the above are members of the company and are required to contribute up to £25 to the company in the
event of rt being wound up.

The Anvil Trust Limited
(Llmlted by Guarantee)
Truste•s' Report
The Board regularly reviews membership and uses "skills set,: analysis as the major criterion for recruitment.
There is a recruitment committee of the Board which interviews potential new members. There is a job
description for Board members and the Chairman. Induction training for new members includes a briefing
and detailed information from the Chief Executive and Chairman about the organisation and the aims of the
Trust. Induction on the role and responsibilities of Directors is dependent upon the experience of new
members.
Members receive on-going training through away days and professional training on specific issues $u¢h a8
equal opportunities. The company has made qualrfying third party indemnity provisions for the benefit of its
trustees during the year. These provisions remain in force at the reporting date.
Golng concern
The accounts have been drawn up on the basis of the charitable company continuing as a 90ing concem in
the foreseeable future. The company has a sTrgned Strategic Partner Contribution Agreement with
8asingstoke and Deane Borough Council that revenue investment of £395,000 will be made available until
March 2026. 8asingstoke and Deane Borough Council has also indicated its commitment to continue to
offer on-going revenue support. The National Portfolio agreement with Arts Council England for annual
investment of £141,506 also continues until March 2027.
Statement of trustees, responsibilities
The trustees (who are also directors of Thé Anvil Trust Limited for the purposes of company law) are
responsible for preparing the Trustees. Annual Report and the flnancial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng
Practice).
Company law requires the trustees to prepare financial ststements for each financial year, which give a true
and fair view of the state of affairs of the charilable company and of the incoming resources and application
of resources, including the income and expenditure, of the charitable company for Ihe year. In preparing
these financial statements, the trustees are required to..
select suitable accounting policies and Ihen apply them consistently:
observe the methods and principles in the Charities SORP 2019 {FRS 102).,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presuma that
the charrtable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charrtable company and enable them to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company and hence for taking reasonable steps for the prevention and detection of
fraud and other ir￿guIar1Iie5.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's website. Legislation in the United Kingdom governing the preparation
and dissemination of financial statements may differ from legislation in other jurisdictions.

The Anvil Trust Llmited
(Llmited by Guarantee)
Trustses, Report
In so far as the trustees are aware at the time of approving our trustees. annual report:
there is no relevant infomation, being information needed by the auditor in connection with preparing
their report, of which the charitable companvs auditor is unaware,. and
the trustees, having made enquiries of fellow directors and the charitable company's auditor that they
ought to have individually taken to make themselves aware of any relevant audit information and to
establish that the auditor is aware of that infonnation.
Small company exemptlons
This report is prepared in accordance with the provisions of the Companies Aet 2006 relating to small
companies.
This report was approved by the Board of Truslees on 10 October 2025 and slgned on its behalf by
S Catley (Chalr
Trustee

Independent Auditots. Report to the Membern of The Anvil Trust Limited
Opinion
We have audited the financial ststements of The Anvil Twst Limited (the 'charitsble compan￿) for the year
ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash
Flow Statement and notes to the financial statements, including a summary of significant accounting
policies. The financial reporting Iramework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the financial statements:
give a true and fair view of the stale of the charrtable companls affairs as at 31 March 2025, and of its
incoming resources and application of resources, including its income and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
- have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with Internalional Standards on Auditing (UK) (ISAS {UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilrties for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK. including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical
responsibilities in accordance wilh these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial slatemenls, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have parformed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast signrficant doubt on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial statemenls ara
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other infomiation
The other information comprises the information included in the trustees annual report. other than the
financial statements and our audilorfs report thereon. The trustees are responsible for the other information
containad within the annual report. Our opinion on the financial Statements does nol cover the other
information and, except to the extent otherwise explicitly slated in our report, we do not express any form of
assurance conclusion thereon. Our responsibility is lo read the other infomation and, in doing so. consider
whether the other infomiation is materially inconsistent with the financial statements or our knowledge
obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether this
gives rise to a material misstatement in the financial slatements themselves. If, based on the work we have
performed, we conclude that theré is a material misstatement of this other information. we are required to
report that fact.
We have nothing to report in this regard.

Independent Auditors, Report to the Members of The Anvil Trust Limited
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit.-
the information given in the trustees. report (incorporating the directors, report) for the financial year for
which the financial statements are prepared is consistent with the financial statements., and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are required to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identffied material misstatements in the directors, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequale accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of directors, remuneration specified by law are not made: or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companies.
regime and take advantage of the small companies, exemptions in preparing the directors, report and from
the requirement to prepare a strategic report.
Responslbllltles of trustees
As explained more fully in the trustees, responsibilities statement set out on pages 7 and 8, the trustees
(who are also the directors of the charitabl8 company for the purposes of company law) are responsible for
the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for
such internal control as the trustees determine is necessary to enable the preparalion of financial
statements that are free from material misstatement, whelher due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable CoMpan￿S
abilily to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charilable company
or to cease operations, or have no realistic alternative but to do so.
Auditorfs responsibllitles forthe audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individualty or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
10

Independent Auditors. Report to the Members of The Anvil Trust Limlted
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
Our assessment focussed on key laws and regulations the charitable company has to comply with and
areas of the financial statements we assessed as being more susceptible to misstatement. These key laws
and regulations includ8d but were not limited to compliance wilh the Companies Act 2006, Charities Act
2011, taxation legislatlon, data protection and employment legislation.
We are not responsible for preventing irregularities. Our approach to detecting irregularities included. but
was not limrted to. the following:
obtaining an understanding of the legal and regulatory framework applicable to the charrtable company and
how the charitable company is complying with that framework, including agreement of financial statement
di8closures to underlying documentation and other ovidence;
obtaining an understanding of the charitable company's control environment and how the charitable
company has applied relevant control procedure5, through discussions with Trustees and olher
management and by performing walkthrough testing over key areas;
obtaining an understanding of the charitable companws risk assessment process, includin9 the risk of
reviewing rneeting minutes of those charged with governance throughout the year" and
performing audit testing to address the risk of management override of controls, including testin9 joumal
ontries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions Outside the normal course of business and reviewing accounting estimate8 for bias.
Whilst considering how our audit work addressed Ihe detection of irregularities, we also considered the
likelihood of detection based on our approach. Irregularities arisin9 from fraud are inherently more difficult to
detect than those arising from error.
8ecau8e of the inherent limitalions of an audit, there is a risk Ihat we will nol detect all irregularlties,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from Ihe
events and transactions reflected in the financial statements, as we will be less likely to become aware of
instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather
than error, as fraud involves intentional concealment, forgery, Gollusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's websrte at.. wwi.frc.org.uklauditorsresponsibilrties. This descripb'on foms part
of our audrtorfs report.

Independent Audltors, Report to the Members of The Anvil Trust Llmited
Use of our report
This report is made solely to the charitable companrfs members, as a body. in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charilable companys members those matters we are required to state to them in an auditor's report and for
no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable CoMpan￿S members as a body, for our audit
work. for this report, or for the opinions we have fonned.
Mr Graham Berry FCCA (Senior Statutory Auditor)
For and on behalf of Breckman & Company Ltd
Statutory Auditors
Chartered Certified Accountants
49 South Molton Street
London W1 K 5LH
10 October 2025
12

Tho Anvll Tru•1 LlmStsd
ILlmlt•d by Gu•r•nt••l
St•t¢m•nt of FIn￿GI11 kllvltlm Ilncludlng In¢om• •nd eyp•ndttur• A¢¢oynll
forth• y••r •nd•d JI M•r¢h 202$
Unr•8trfct•d RMtrf¢t•d
lund*
fund*
2025
Total
Unr••trkt￿ Rmtrlcl
fund*
fund•
2024
Tot
Income and gndo¥mient8 from:
Donations and legacie$- pag• 14
Charrtable ActivrtK•$'.
Thoalrical proJuctlon- p#ge 14
Inv•slm8ntB
631,755
631,755
547,655
547,655
8,154.963
105.057
41,300
6,1%,263 5,738,978
105.057
91,122
18.400
581
5,755,378
91.703
Totsl
6,891,775
41,300
6,933.075 6,377,755
16,981
6,394,736
Expondhur• on..
Charrtable actiwlies,.
Theatrical productK)n- p•ge 1S
Total
6.965,474
332,1SS
7.297,829 8,330.334
124.524
6,454,8s8
6.965,474
332,155
7.297,829 8.330,334
124,524
6,454,858
Gabr*$ on inveslmenls
5,576
S,576
21,549
21.549
N•t In¢om•lloxp•ndttur•l
R•con¢lll•¢lL)n ol fund•'.
Total fund• brought lop*ird
Tot•1 lund• ¢•rrb•d fowwird
168,1231 1290,8551 1358,8781
68,970
1107,5431
138,5731
1,939.Q07
527,882
2,468,889 1,870.037
835,425
2,505.462
17,18
1,870.884
237.027
2,107.911 1.939.trJ7
527.882
2,486.889
The ntsxes on pages 19 to 31 form an integr81 part of these fin¥nci81 $tatemenl$.
Th• $tatThnt ol linanchl I￿ludeS al qain• losies roco9ni$ed In the year. All InC￿e expenditure deri￿& from contlnuing •Cti¥itie•,
13

The Anvil Trust Llmlted
(Llmlted by Guarantee
Year ended 31 March 2025
2025
2024
Income from donations and legacies
Gran13
Arts Council England- NPO funding
BDBC - regular funding
8DBC- other funding
141,506
395,000
57,041
141,506
395,000
593,$47
536,506
Donatlons
Donations
38,208
11,149
38,208
11,149
631.755
547,655
Incorno from charltable actlvllles
Th•atrlcal productlon Income
Ticket income
Hire fees
Ancillary income
Other income
4,493,514
377,996
1,275,990
7,463
4,135,294
328,980
1,243,534
31,170
6,154,963
5,738,978
Project speclfic fundlng
Grants
The Linbury Tru8t
35,000
2,730
35.000
2.730
Other Income
Donationslother income
6,300
13,670
6.300
13,670
41,300
16,400
6,196,263
5.755.378
14

Thè Anvil Trust Llmlted
(Llmlted by Guarante•)
Year •nd•d 31 March 2026
2025
2024
Expendfture on charltable actlvltles
Theatrical productlon costs
staff costs
Fees and direct performance costs
Education and outreach
Marketing and box office
Premises costs
Depreciation costs
841,268
4,098,567
15,435
145,469
530,477
61,832
754.404
3.627.541
16,712
125,321
469,278
31,267
5,693,048
5,024,523
Support costs - page 16
Govemance costs - page 16
1,S91,081
13,500
1,416.835
13,500
7,297,629
6,454,858
All support and governance costs have been allocated to expenditure on charilable activities.
15

The Anvll Trust Limited
(Limited by Guarantee)
Year ended 31 March 2025
2025
2024
Support and governance costs
Support costs
General cost8
staff costs
Bank charges
713,160
872,228
5,693
684,502
721,265
11,068
1.591.081
1,416,835
Governance costs
Accountancylother
Audit
4,000
9,500
4,000
9,500
13,500
13,500
1,604,581
1,430,335
16

The Anvil Trust Llmited
(Llmlted by Guarantee
Balance Sheet
31 March 2025
2025
2024
Notes
Flxed assets
Tangible assets
Investments
10
11
209,635
812,398
128,241
806,822
1,022,033
935,063
Current assets
Stocks
Debtors
Investments
Cash at bank and in hand
12
13
14
37,161
436,074
1,644,220
1,473,160
33,420
273,140
1,561,293
1,748,864
3,590,615
3,616,717
Llablltles
Creditors.. amounts falling
due within one year
15 (2,504,737)
(2,084,891)
Net current assets
1,085,878
1,531,826
Total assets less current
over total assets
2,107,911
2,466,889
The funds of the charlty
Unrestricted funds
General fund
Designated funds
17
863,699
1,007,185
870,344
1,068,663
Total unrestricted funds
1,870,884
1,939,007
Restricted funds
18
237,027
527,882
Total charlty funds
2,107,911
2,466,889
The trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and
section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special
provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts
required by the Companies Act 2006 and are for circulation to members of the company.
The accounts were approved by the Board of Trustees on 10 October 2025 and signed on its behalf by
S Catley (Chair)
Trustee
A Hargreaves
Trustee
The notes on pages 19 to 31 form an integral part of these financial statements.
lo(If)
17

The Anvil Trust Limited
(Limited by Guarantee)
Cash Flow Statement
for the year ended 31 March 2025
2025
2024
Notes
Cash flows from operatlng actlvftles
21
(154,608)
196,163
Cash flows from investing activities:
Dividend5, interest and rents from investments
Purchase of property, plant and equipment
Purchase of investments
105,057
(143,226)
91,703
(82,228)
250,000
Net cash provlded by investment activitles
{38,169)
(240,525>
Cash flows from flnanclng actlvltles:
Repayments of borrowing
(142,5001
Net cash provlded by financing activities
Change in cash and cash equivalents in the reporting period
(142,500)
(192,777)
(186,862)
Cash and cash equivalents at the beginning of the reporting period 3,310,157
3,497,019
Cash and cash equlvalents at the end of the reporting period 3,117,380
3,310,157
Represented by:
Cash deposits and investments
Cash at bank and in hand
20
1,644,220
1,473,160
1,561,293
1,748,864
3,117,380
3,310,157
18

The Anvil Trust Limited
(Llmlted by Guarantee)
Notes to the Financlal Statements
for the year ended 31 March 2025
Accounting pollcles
1.1. Bas18 of proparlng the flnanclal statements
The financial statements have been prepared in accordance with Accounting and Reporting by
Charrties.. Statement of Recommended Practice (issued October 2019) applicable to charrties
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) {effective 1 January 2019) - (Charities SORP {FRS 102)), and the
Companies Act 2006.
The charitable company meet8 the definition of a public benefit entity under FRS 102. Assets and
liabilrties are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy note(s).
1.2. Group flnanclal statements
The charitable company has taken advantage of the exemption under section 398 of the Companies
Act 2006 not to prepare consolidated financial statements. The financial statements present
infomation about the charitable company as an individual entty and not about ils group.
1.3. Preparation of the accounts on a going concern basis.
The charitable company is dependent on the continued support of grant aiding bodies. The trustees
believe that the company will continue to receive this support and accordingly consider that It is
appmpriate to prepare the financial statements on the going concern ba81S.
1.4. Fund accountlng
Funds held by the charity are either".
Unrestricted general funds these are funds which can be used in accordance with the charitable
objects at the discretion of the trustees.
Designated fund8 - these are unrestricted funds of the charity which the trustees have decided at
their discretion to set aside to use for a specific purpose.
Restricted funds - these are funds that can only be used for particular restricted purposes within the
objects of the charity- 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
slatements.
19

The Anvil Trust Limited
(Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2025
1.5. Incoming resources
All incoming resources are included in the Statement of Financial Activities when..
the charity is legally entitled to the funds
any performance conditions attached to the income have been met or are fully within the control of
the charity
there is sufficient certainty that receipt of the income is considered probable
- the amount can be reliably measured
Donations and legacies
Grantsldonations are recognised in incoming resources in the year in which they are receivable,
except as follows..
when donors specify thal grantsldonations given to the charity must be used in future accounting
periods, the income is deferred until those periods
when donors impose conditions which have to be fulfilled before the charity b￿OrneS entitled lo use
such income. the income is deferred and not included in incoming resources until the preconditions
for use are met.
Charltable actlvltles
Theatrical production income - income from performance admission fees and hire income 1$ included
in incoming resources in the period in which the relevant activity takes place,
Project specific funding when donor$ specify that donations and grants are for particular restricted
purposes, which do not amount to pre-conditions regarding entitlement, this income is included in
incoming resources of restricted funds when receivable.
Donated servlce8 and facllltles
Donated services or facilities are recognised as income when the charty has control over the item,
any conditions associated wrth the donated item have been met, the feceipt of economic benefit from
the use by the charity of the item is probable and that economic benefit can be measured reliably. On
receipt, donated seDiices and facilities are recognised on the basis of the value of the gift to the
charity which is the amount the charity would have been willing to pay to obtain services or facilities of
equivalent economic benefit on the open market,. a corresponding amount is then recognised in
expenditure in the period of receipt.
Investment Income
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normalty upon notification of the interest paid or payable by the Bank.
20

Th6 Anvll Trust Llmitod
(Llmlted by Guarantee)
Notes to tho Financial Statements
for the year ended 31 March 2026
1.6. Expenditure
All expendrture is included on an accruals basis inclusive of any VAT which cannot be recovered and
is recognised when:
there is a legal or constructive obligation to make a paymenl
it is probable that settlement will be required
- the amount of the obligation can be measured reliably
Charitable actlvltl•8
Theatrical production costs incurred in perfomiances, exhibitions and other educational activities
undertaken to further the purposes of the charty and their associated support costs.
- Support costs
The administrative and overhead costs associated with running the office from vthlch the company
operates as well as governance costs. Support costs are wholly attributable to theatre production
costs. The basis on which support costs have been allocated are set out on page 16.
. Governance costs
Costs associated with the constituiional and statutory requirements of the char5ty.
1.7. Penslons
The charitable company operates a defined contribution scheme for the benefit of its employees.
contributions payable are recognised as expenditure when due.
1.8. Tanglble flxed assets and depreciation
Individual fixed assets costing £1.000 or more are eapitalised at cost.
Depreciation is provided at annual rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows..
PlanVtechnic81 equipment
Fixtureslfittingslequipment
Motor vehicles
Barlcatering equipment
20 250/0 Straight line basis
20 250/0 Straight line basis
330A straight line basi5
20 - 25°/0 slraighl line basis
1.9. Investments
Fixed asset investments are stated at co.st less provision for diminution in value.
Current asset investrnents are stated at the lower of cost and net realisable value.
1.10. Stock
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised
on receipt at fair value which is the amount the charity would have been willing to pay for the rtems on
the open market
21

The Anvil Trust Limited
ILlmited by Guarantee)
Notes to the Flnancial Statements
for the year ended 31 March 2025
1.11. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts
due.
1.12. Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.13. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably resull in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.
1.14. L•aslng
Rentals payable under operating leases are charged to the income and expenditure account on
straight line basis over the lease term.
1.15. Financial instruments
The charity only has financial a$$ets and financial liabilities of a kind that qualify a$ basic financial
instruments. Basic financial instruments are initially recognised at transaction value, and
subsequently measured at their settlement value.
Other financial assets
Other financial assets, including inv8slments in equity instruments which are not subsidiaries,
associales or joint ventures, are inrtially measured at fair value, which is normally the transaction
price. Such assets are subsequently carried at fair value and the changes in fair value are recognised
in net income (expenditure), except that investments in equity instruments that are not publicly traded
and whose fair values cannot be measured reliably are measured at cost less impairment.
1.16. Significant accounting estimates and judgements
In determining the carrying amounts of certain assets and liabilities, the charty makes assumptions of
the effects of uncertain future events on those assets and liabilities at the balance sheet date. The
charity's estimates and assumptions are based on historical experience and expectation of future
events and are reviewed annually.
Limited by guarantee
The privale limited company is registered in EW- England & Wales, is limited by guarantee, and does
nol have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £25, to
the company should it be wound up. At 31 March 2025 there were 7 members.
22

The Anvil Trust Limited
(Limited by Guarantee)
Notes to the Flnancial Statements
for the year ended 31 March 2025
Incoming resources
The total incoming resources for the year have been derived from the principal activty undertaken
wholly in the UK.
Income from Invgstments
2026
2024
Fixed asset Investments
Gains on listed investments
5,576
21,549
Other Investment Incom•
Investment income
105,057
91,703
Net income for the year is
stated after charglng:
2025
2024
Depreciation of tangible fixed assets
Auditors, remuneration:
e>lernal audit
other seNices
61,832
31.267
9,500
4,000
9,500
4,000
Trustees. •moluments and relmbursed expans•s
The trustees received no remuneration during the year (2024 - £nil).
The aggregated amount reimbursed to trustees during the year was £nil (2024 - £nil).
23

The Anvll Trust Llmltod
{Limited by Guarantee)
Notes to the Financlal Statements
for the year ended 31 March 2025
Staff costs and numbers
2025
2024
Staff costs
Salaries and wages
Social security costs
Pension costs
1,568,778
102,838
41,880
1,371,208
87,414
37.120
1.713.496
1,495.742
Kay managemont porsonn•l
The key management personnel of the charitable company comprises the Trustees and the Senior
Management Team. The total employee benefits of the key management personnel of the charty
includes employer's pension costs and was as follows..
2025
2024
Total remuneration and benefrts
92,602
89.040
Staff numbers
The average numbers of employees (including casual and part time staffj during the year was made
up as follows..
2025
Number
2024
Number
Management
Administration and sales
Buildings, production and technical
Operations and front of house
26
46
78
23
42
79
151
145
The number of employees who earned £60,000 or more (excluding employer pansion costs) during
the year wa3 a3 follows..
2025
Number
2024
Nurnber
£80,000- £89,999
24

The Anvil Trust Limited
ILlmited by Guarantee
Notes to tho Flnancial Statements
for the year ended 31 March 2025
Penslon costs
The charitable company operates a defined contribution pension scheme in respect of its employees.
The scheme and its assets are held by independent managers. The pension charge represents
contributions due from the company and amounted to £41,880 {2024 - £37.120).
Corporatlon taxatlon
The chartsble company is exempt from tax on income and gains falling wrthin section 505 of the
Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these
are applied to its charitable objects.
10. Flxed assets - tanglble assets
Planu
technlcal
equipment
Flxturesl
rittlngsl
equipment
Motor
vehlcles
Barl
caterlng
equipment
Totsl
Cost
1 April 2024
Additions
Disposals
533,949
47,582
251,407
90,492
(16,103)
6,667
182,093
5,152
974,116
143,226
(16.103)
31 March 2025
581,531
325,796
6,667
187,245
1.101,239
Depreciation
1 April 2024
On disposals
Charge for year
531,545
155,235
(16,103)
41,283
6,666
152,429
845,875
(16,103)
61,832
8,875
11,674
31 March 2025
540,420
180,415
6,666
164,103
891,604
Net book valu&s
31 March 2025
41,111
145,381
23,142
209,635
31 March 2024
2,404
96,172
29.664
128,241
25

The Anvll Trust Llmlted
(Llmlted by Guarantee)
Notes to the Flnanclal Statements
for the year ended 31 March 2025
11. Flxed Asset Investments
Subsidiary
Other
undertakings Investments
Total
Cost
1 April 2024
Revaluations
806,820
5,576
806.822
5,576
31 March 2025
812,396
812,398
Net book values
31 March 2025
812,396
812.398
31 March 2024
806,820
806,822
Subsidiary undertakings
Ordinary shares in group undertaking at cost - £2.
The parent charity owns 1 OOOA of the share capital of Forge Enterprises Limited, which is registered in
EW - England and Wales, registered number 02876228. The total capital and reserves at the balance
sheet date was £2 (2024 - £2).
Forge Enterprises Limited is currently dormant and did not trade in the year.
12. Stocks
2025
2024
Finished goods and goods for resale
37,161
33,420
37,161
33,420
.13. Debtors
2025
2024
Trade debtors
Other debtors
Prepayments
Accrued income
189,160
126,499
63,375
57,040
126,863
76.966
69.311
436.074
273,140
26

The Anvll Trust Limlted
(Llmlted by Guarantee
Notes to the Flnanclal Statements
for the year ended 31 March 2025
14. Current asset investments
2025
2024
Cash - deposits and investments
1,644,220
1.561,293
18. Credftors: amounts falling du•
wlthln one year
2025
2024
Trade creditors
Amounts owed to subsidiary undertakings
other taxationlsocial security
Other credilors
Accruals
Oeferred income (note 16)
267,489
219,171
86,309
455,639
91,845
1,603,453
53,974
306.734
80,609
1.424,401
2.504,737
2,084,891
16. Deferred Income
8alance at 1 April 2024
1.424,401
Amount released to incoming resources
Amount deferred in the year
(1,424,401)
1,603.453
Balance at 31 March 2025
1,603.453
Deferred income relates to income received in advance from charitable activities taking place after
the year-end. Deferred income value is represenled by both hire fees and ticket sales {plus any
associated costs). The Trust receives a contractually agreed percenlage of income from total tickets
sold and 1000/0 from hires.
27

The Anvil Trust Limited
ILlmlted by Guarantee)
Notes to Ihe Flnancial Statements
for the year ended 31 March 2025
17. Unrestrlcted funds
Brought
forward
Incoming
resources
Outgolng
resource3
Transfers
Carrled
forward
General funds
870,344
6,897.351
{6.910,601)
6,605
863.699
Designated funds:
Repairs and maintenance 343,195
Box office
104,104
Basingstoke partnerships 66,799
Development fund
17,565
Steinway Piano fund
150,000
Programme
142,000
Sustainable environment
95,000
8usiness development
10,000
Customer experience
55,000
Exceptional Utilities
ss,000
Cost fund
Inclusion & Diversity
(39,661)
303,534
104,104
53,799
17.565
150.000
137.000
93,395
7,788
55,000
55,000
(13,000)
(5.000)
(1,605)
(2.212)
30,000
30.000
1,068,663
{54,873)
{6,605)
1.007,185
1,939,007
6,897.351
{6,965,474)
1.870,884
General funds
General funds are the free reserves of the charty after allowing for designaled funds,
Deslgnated funds
Designated funds represent monies set aside for specific purposes or projects in the short to medium
term. The trustees regularly review the required future expenditure relating to premises and service
delivery in order to ensure that adequate funds are designated for these purposes from general
reserves.
28

The Anvll Trust Limited
(Limited by Guarant8•)
Notes to the Flnanclal Statements
for the year ended 31 March 2025
18. Restrlcted funds
Brought
forward
Incomlng
resources
Outgoing
resources
Carried
forward
Great Music of the World
Linbury Trust Fund
New Dimensions
Musication
Emergency and Reopening
247,151
12,220
611
15,028
252,872
4,056
35,000
(74,000)
(24,969)
1611)
(2,418)
1230,157)
177,207
22,251
2,244
14,854
22,715
527,882
41,300
1332,155)
237,027
Great Muslc of the World
Great Music of the World enables The Anvil to bring the best international music to Basingstoke
and to increase the number and range of concerts.
Llnbury Trust Fund
Grant to support the salary costs for a fundraiser and a feasibility project to look at income
generation and environmental training and actions,
New Dlmenslons
New Dimensions was the grant receivable from Hampshire County Council awarded to Anvil Arts
and Turner Simms to deliver the New Dimensions in Music Performance and Participation.
Musication
Musication relates to donations received to purchase musical instruments and run projects in the
community.
Emergency and Reopenlng
This relates to Culture Recovery funding and grants received from central government for
closure. These amounts are for reopening of venues and associated expenditure due to closure.
19. Analysls of net assets between funds
General
funds
Designated Restricted
funds
funds
Total
Fund balances at 31 March 2025
are represented by..
Tangible fixed assets
Investments
Net current assets
209,635
812,398
(158,334)
209,635
812,398
237,027 1.085,878
1,007,185
863,699
1,007,185
237,027 2.107.911
29

The Anvil Trust Limited
{Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2025
20. Analysls of changes in not ¢a$h funds
Opening
balance
Cash
flows
Cloglng
balance
Cash at bank and in hand
1,748,864
(275,704)
1,473,160
Other liquid resources
1,561,293
82,927
1,644,220
Net cash funds
3,310,157
(192,777)
3,117,380
21. Reconclllatlon of net (expenditure) to net cashflow from operating actlvttlas
2025
2024
Net (expenditure) for the reporting period, as per the
Statement of Financial Activities - page 13
Depreciation
(Gains) on investments
Dividends, interest and rents from investments
{Increase) in stocks
(Increase) in debtors
Increase in creditors
(358,978)
(38,573)
61,832
(5,576)
(105,057)
(3,741)
(162,934)
419,846
31,267
(21,549)
(91,703)
(6,369)
{45,878)
368.968
Net cash ouffiow from operating activities
(154,608)
196,163
30

The Anvil Trust Llmlted
(Limited by Guarantee)
Notes to the Financial Statements
for tho year ended 31 March 2025
22. Flnanclal commitments
At 31 March 2025 the charrtable company had total future commitments under non-cancellable
operating leases falling due as follows..
202S
2024
Due:
Wilhin one year
Between one and five years
8,074
20,743
8,074
28.817
28,817
36,891
The freehold of The Anvil is owned by Basingstoke and Deane Borough Council. Rent is payable al
an annual rent of £149,250 in accordance with the lease dated 31 March 2014, the lease term is 20
years from 1 April 2014. The rent is fully subsidised by Basingstoke and Deane Borough Council.
The freehold of The Haymarket is owned by Basingstoke and Deane Borough Council and rent is
payable at an annual rent of £65,000, the lease term is 15 years from 25 September 2007. The rent is
fully subsidised by Basingstoke and Deane Borough Council. A new lease was signed which runs
from 25 September 2022 to 24 September 2025.
23. Related party transactlons
The charitable company had no related party Iransactions that require disclosure.
31