OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Pump Aid

2025-03-31-accounts

A Company Limited by Guarantee and not having a Share Capital

Trustees’ Report and Consolidated Financial Statements

For the year ended 31[st] March 2025

REGISTERED CHARITY NUMBER: 1077889

REGISTERED COMPANY NUMBER: 03661446 (England & Wales)

www.pumpaid.org @PumpAid Pump Aid

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CONTENTS PAGE
Harnessing enterprise – ending dependency 2
Verified, validated, confirmed, corroborated 3
Chair’s Introduction 4
Trustees’ Report
Vision, mission and values 5
Achievements in 2024/25 5
Objectives for 2025/26 7
Charitable purpose 8
Basis of accounting 9
Criteria for measuring success 9
Risk management 9
Structure, governance and management 9
Appointment and training of trustees 10
Approach to fundraising 10
Going concern 10
Financial review of 2024/25 11
Reserves policy 12
Auditors and disclosure of information to auditors 13
Legal and Administrative Information 14
Statement of Trustees’ Responsibilities 15
Independent Auditor’s Report 16
Financial Statements
Statement of Financial Activities 20
Balance Sheets 22
Cash Flow Statement 24
Notes to the Financial Statements 25
Glossary of terms and abbreviations 33

Page | 1

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

+ Aid Beyond e yo rnd Wa Maintain. Sus ain. t er

HARNESSING ENTERPRISE – ENDING DEPENDENCY

+100 local entrepreneurs trained and +100 small businesses created

+2,600 domestic and irrigation pumps sold +1,100 waterpoints under memorandum of understanding

+550 waterpoints under direct service contracts

+5,200 waterpoint services and repairs carried out

+70% direct service contract renewal rate

+98% functionality rates for waterpoints under direct service contracts

+13,000 children benefitting from safe water and hygienic sanitation at rural nurseries

+2,250,000 people given reliable access to safe water since 1998

Page | 2

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

Y VERIFIED Y VALIDATED Y CONFIRMED VY CORROBORATED

______________________

Beyond Water’s Professionalised Repair and Maintenance Approach independently assessed to outperform all comparable organisations

In 2024 Beyond Water joined a national pilot in preparation for a UK FCDO bid, to see if community waterpoint functionality could be improved by paying providers according to the functionality rates they achieved, rather than the access to water work they delivered, and which compared Beyond Water’s social enterprise approach with that of three other NGOs working in Malawi. The independent assessor’s report, published in April 2025, not only validated Beyond Water’s approach, it showed that Beyond Water’s impact was double that of any other provider and, in one area, Beyond Water exceeded the outcomes of the three other NGOs added together.

Key findings

The pilot not only reinforced our belief of the need for structured incentives and the direct management of services to maintain and sustain waterpoint functionality, but also proved that Beyond Water’s approach can deliver more effective outcomes than any other comparable provider.

Service
provider		 Service
model for
pilot		 Number of
waterpoints
inpilot		 Quarterly
revenue per
waterpoint		 Reported
uptime %		 Total results
based
payments
Provider A
(Beyond Water)		 Mixed in Q1
Direct in Q2		 Mixed in Q1
250		 $7.16 97.7% $45,243
Provider B Direct 250 $1.02 98.8% $48,811
Provider C Indirect 139 $2.24 99% $20,073
Provider D Indirect 240 $1.52 98.9% $46,775
Service Provider A
(Beyond Water)		 1st
Quarter		 2nd
Quarter		 3rd
Quarter		 4th
Quarter
Number of breakdowns in quarter 20 18 8 14
Number of breakdowns fixed in 3
days or less		 8 9 6 14
Average downtime in days 31.5 31.1 11.7 1.3
Total downtime across all 250
waterpoints inpilot (days)		 630 560 93.5 18
Waterpoints with a functionality
rate of less than 96% in quarter		 12 8 2 1

By the end of the pilot,

The independent assessor concluded that, of the four Malawi based NGOs in the pilot, only Beyond Water was “well positioned” for future results-based contracts and, the fact that Beyond Water raised more local revenue than any other provider in the pilot, demonstrates its customers agreed with them.

Page | 3

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CHAIR’S INTRODUCTION

As I said in my first introduction last year, what attracted me most to Pump Aid was its obsession with sustainability and its belief that we will only solve the problems of poverty in Africa when we work together with the skilled, talented and ambitious people that live and work there. Pump Aid’s ‘Enterprise not Aid’ approach is designed to do just that and Beyond Water, its customerfocused, Malawi-led social enterprise, is leading the way. By creating and supporting financially viable and locally owned businesses and by encouraging communities to sign ongoing repair and maintenance contracts with those local businesses, Pump Aid is ensuring that communities not only acquire the vital technical skills needed to restore their own waterpoints, but they also have the ability to maintain their access to water into future, freeing them from their dependence on us or on anyone else.

I am proud to be Chair of a charity that is at the forefront of the change that is sweeping across the water sector and I have also been heartened by the way major funders and other NGOs are increasingly recognising that the UN target of eliminating water poverty by 2030 will not be achieved without others following our lead. A recent UNICEF report concluded that “Improved levels of waterpoint functionality can only be sustained if they are supported by affordable preventative maintenance” and I cannot think of a better endorsement of the approach that Pump Aid and Beyond Water have been so proud to champion.

Pump Aid is not just an organisation challenging the status quo, it is offering sustainable solutions to problems that have beset the water sector for decades and there is no better endorsement of this than the report of the national comparative study (summarised on the previous page), which concluded that Beyond Water was the only organisation in the pilot “well positioned” for future results-based contracts. We intend to take full advantage of this opportunity.

But it is not just external validations that excite us, it is the endorsement of our customers and, as the following report sets out, we have more than doubled the number of waterpoints we have under contract in 2024/25 from 245 to 553 and, at the time of writing, this has already increased to more than 600. Our ability to increase the number of waterpoints under contract at the same time as we increase our revenue from those waterpoints is the best possible demonstration of the customer satisfaction we are generating and gives us a clear route to financial sustainability.

Relaunching Pump Aid’s repair and maintenance programme as Beyond Water’s professionalised preventative maintenance service has been a game changer for our profile and has propelled us to the point where we are now being approached to join programmes and to share our experience with the Malawi government and with other NGOs working in Malawi. By some margin, Beyond Water is now viewed as the leading waterpoint repair and maintenance provider in Malawi, which is testament to its innovation, to its tenacity in the face of opposition from entrenched sector interests and the focussed and dedicated work of its staff.

On behalf of the Board, I would like to thank everyone who has worked for and with Pump Aid or Beyond Water over the past year. It is their performance that has driven Pump Aid’s success and it is their commitment which will secure its future.

Sandra Welch Chair 31[st] July 2025

Page | 4

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

TRUSTEES’ REPORT

Trustees are pleased to present their Trustees’ Report and Financial Statements for the year ending 31[st] March 2025, which contains a Directors’ Report as required by company law. The Financial Statements comply with the requirements of the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with FRS102 (effective 1[st] January 2019).

VISION, MISSION AND VALUES

Vision

Pump Aid is committed to the UN’s objective to totally eradicate water poverty by 2030. But our ultimate goal

is to transform the lives and life chances of poor and disadvantaged people, so that they reach a point of resilience and self-reliance where they no longer need the support of us or anyone else.

Mission

Pump Aid’s mission is to achieve lasting positive change in the lives of disadvantaged people by harnessing the determination of the community, the power of local businesses and the skills of partners in other sectors to deliver reliable, affordable, and sustainable access to safe water.

Values

At the heart of everything we do is the central belief that fulfilling the basic human right of access to reliable and safe water is a vital first step to better life expectancy, improved educational attainment and increased social and economic independence and that delivering this in a way that empowers the poorest in society as activist service users, rather than disempowers them as passive service recipients, is critical to the long term sustainability of these rights.

ACHIEVEMENTS IN 2024/25

Pump Aid’s charitable activities are delivered wholly in Malawi, where handpumps are the primary source of improved water for over 85% of the rural population and where for decades maintenance has been based on a community-based management (CBM) model. Under this model governments and NGOs invest in water point provision and installation, in the hope that, with some basic training and the use of unmanaged area mechanics, communities will ensure ongoing maintenance and raise sufficient funds through tariffs to pay for any necessary repairs and spare parts. This has always been a tall order and, in many parts of Malawi, it has totally failed.

A 2023 research project, commissioned by the Government of Malawi, revealed that 41.5% of rural handpumps under CBM were non-functional, depriving at least five million people of reliable access to safe water, despite having all the necessary infrastructure in place. The research project found that the main causes of non-functionality were:

▪ a lack of oversight over unregulated pump mechanics, and

Page | 5

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

Without these fundamental pillars, effective repair and maintenance quickly breaks down, resulting in increased downtime, escalating repair costs, and a dependence on external funders to pay for ongoing maintenance and repairs. The Government’s report concluded that this was not a sustainable long-term solution.

Beyond Water’s Professionalised Repair and Maintenance Service is based on years of rural water provision experience and provides an efficient and customer focussed service that ensures year round access to reliable water in a cost effective way, appropriate regulation and user engagement, and offers a pathway to financial viability that, with the right investment will drive ongoing improvements in performance and productivity.

As well as investing in Beyond Water’s delivery capacity, Pump Aid has also invested in its ability to manage and motivate its staff and contractors. A system of remuneration and incentives based around the user experience encourages its field teams and contractors to service regularly, to respond rapidly and to provide levels of customer care that far exceed those of the water sector generally. They are supported by a management information system that provides real time data on contract delivery and mechanic performance, which both rewards team members who exceed their targets and highlights areas where management attention may be required.

Beyond Water’s Management Information System has been widely praised. It is seen as unique in Malawi and we have been approached by a number of Malawi based NGOs, many times our size, seeking to use our system to better manage their own projects. All of which has contributed to a major expansion of our maintenance services in 2024/25.

We began the year with 245 communities on direct contracts, where either the community paid for parts and repairs or where the full costs of servicing and repairs were consolidated into a single annual fee. We ended 2024/25 with 553 communities on direct contracts, 279 of whom were on premium contracts, where Beyond Water covers the full costs of servicing, parts and repairs = for a single annual fee. Our premium contract is unquestionably ° A| our most popular product, 50.5% of all contracts signed last year were premium ones and, so far, 82.4% of contracts signed this year . have been premium contracts, despite increasing the annual fee

Page | 6

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

for a premium contract from MwK150,000 to MwK195,000, and we seem to be on course to have 100% of our community customers on this contract in the near future. But, even more impressively, in 2023/24 we generated an average of £69 in user revenues and results-based funding from each of the 245 waterpoints we had under contract but, in 2024/25, we generated an average of £89 from each of our 553 waterpoints, which we plan to increase to £120 per waterpoint by the end of 2025/26.

Our ability to both increase the number of waterpoints under contract while, at the same time, increasing the amount each of those waterpoints pay for our services is the best possible demonstration of the customer satisfaction our field teams and mechanics are generating and illustrates a clear route towards financial sustainability.

OBJECTIVES FOR 2025/26

d» The appointment of a new Malawi Director in February 2024 gave 34 us the opportunity to look afresh at how we were delivering N Felaeo ig resilience and sustainability and how we might better meet the current and emerging needs of the remote and rural communities End Water Poverty in Malawi with whom we work. Our entire team in Malawi has been through Pump by 2030 a thorough and extensive process of evaluation and lesson learning Aid ier’ to revise and adapt our operational processes and to improve our impact and efficiency. Our proposed adaptations are based on what we have learned and the data from the follow up surveys which were necessary to unpack some of that learning.

Our objectives for 2025/26 relate to two broad areas: improving the effectiveness of our delivery and organisation and exploring potential partnerships with other Malawi based water NGOs, to share/reduce overheads and generate improved economies of scale.

1. 2025/26 Organisational objectives

2. 2025/26 Partnership objectives

Page | 7

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

Over the next three years, Pump Aid intends to develop Beyond Water into the leading waterpoint repair and maintenance organisation in Malawi:

Because of the high costs of initial repairs, the reluctance of customers to pay in advance for a service they have yet to receive and don’t know how to value, and the need for a management structure that assures effective delivery and contract compliance from day one, the viability and sustainability of our approach will only be delivered through scale.

This chart, extracted from modelling developed by the financial consultancy EY, shows that, by progressively decreasing its costs per waterpoint and by progressively increasing its revenues, Beyond Water could become financially sustainable when the number waterpoints it has under contract reaches 5,000. A number we hope to reach within the next five years.

developed by the financial consultancy EY, ~~oo~~ shows that, by progressively decreasing its costs per waterpoint and by progressively increasing its revenues, Beyond Water could become financially sustainable when the number waterpoints it has under contract D ~~e~~ reaches 5,000. A number we hope to reach within the next five years. Going forward, we think it likely that Beyond Water’s repair and maintenance service will probably make up around 90% of Pump Aid’s ongoing business in Malawi but, more important than the impact on us, all the waterpoints Beyond Water now has under direct contract are achieving levels of functionality in excess of 97% and the impact of this on the health and resilience of the more than 250,000 people who depend on those waterpoints is immeasurable.

CHARITABLE PURPOSE

The Charity Commission’s guidance on public benefit, as required by section 17 of the Charities Act, 2011, sets out two key principles: the organisation must have an identifiable benefit and the benefit must be to the public or to a section of the public.

Trustees have reviewed the vision and mission of the Charity in the light of this guidance and have been mindful of it when setting the objectives for the current year. They have also noted the emphasis on water in the UN SDGs, of which SDG6 requires action to achieve universal access to safe and reliable drinking water, improving water quality by eliminating avoidable pollution, increasing water-use efficiency, the protection of water-related ecosystems, and support to strengthen the participation of local communities in improving water resource management.

Pump Aid is engaged in activities that support all of these objectives and Trustees believe the activities of Pump Aid, as detailed in this report, demonstrate that the Charity fully meets both of the Charity Commission’s public benefit requirements.

Page | 8

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

BASIS OF ACCOUNTING

Prior to April 2022, the Charity delivered all its activities in Malawi through a Malawi registered branch, Pump Aid Malawi. Since April 2022, some of its activities have been delivered through Pump Aid Malawi, but most have been delivered by Beyond Water Malawi, a Malawi registered company of which the Charity is the ultimate, sole, beneficial owner. The Consolidated Financial Statements of the Charity include all of the funds it raised during the year and all of the activities it delivered, regardless of which company raised the funds or delivered the activity.

CRITERIA FOR MEASURING SUCCESS

As stated earlier, Pump Aid has developed a comprehensive management information system, that uses qualitative and quantitative data indicators collected from beneficiaries and project sites and which is independently tested and verified to determine the impact, effectiveness and appropriateness of all Pump Aid’s activities. Pump Aid uses this data to compile reports to funders and other stakeholders and its restricted programmes are often subject to additional external and independent evaluation as and when required by funders.

RISK MANAGEMENT

All significant activities are subject to a risk review as part of the initial activity assessment and implementation. The Senior Management Team ranks all risks in terms of their potential impact and likelihood and, where possible, puts in place appropriate mitigation.

Major risks for this purpose, are those that may have a significant impact on:

Trustees annually assess the major risks, both positive and negative, to which the Charity is exposed, particularly those related to its finances, operations and reputation, and ensure that adequate systems are in place to:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Pump Aid is a company limited by guarantee incorporated on 4[th] November 1998. The Company was registered as a Charity with the Charity Commission on 21[st] October 1999. The Company’s governing document, its Memorandum and Articles of Association, was revised and approved at the Annual General Meeting held on 13[th] October 2014.

Pump Aid’s Trustees are responsible for the general control and management of the Charity and serve for an initial period of three years, after which they may offer themselves for re-election. The Trustee Board is responsible for setting the organisation’s strategy, assessing risk and

Page | 9

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

reviewing and adopting the Charity’s annual budget and quarterly financial reports. The Trustee Board meets four times per year, including an annual strategy day with senior staff.

Except as stated in note 7 to the Financial Statements, Trustees have no beneficial interest in the activities of the Charity. All Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

Day to day management and oversight of the Charity is vested in a Senior Management Team comprising its UK based Chief Executive and Head of Business Development, and Beyond Water’s Malawi based Managing Director. Staff salaries are benchmarked against similar roles in similar sized organisations and the salaries of the Senior Management Team are set by the Board with reference to market data for each individual role.

APPOINTMENT AND TRAINING OF TRUSTEES

The Board conducts a biennial skills audit and, if necessary, new trustees are sought to ensure the Board maintains a mix of skills and expertise appropriate to the needs of the organisation. New Trustees are provided with information on the purposes of Pump Aid, its financial position and the key issues it faces. They are also given copies of policies and procedures on issues such as delegated authority, recruitment, equal opportunities, and guidance on conflicts of interest. Additional training is provided in line with the identified needs of the Board.

The Trustees, who are also directors for the purposes of company law, who served during the year and up to the date of this report, are set out on page 14.

APPROACH TO FUNDRAISING

Pump Aid raises a very small amount of its income from the general public in the UK (2025: 4.6%, 2024: 4.8%), with the majority of its income coming from governments, corporates and charitable trusts and foundations. All fundraising activities are delivered by directly employed staff, whose working practices fully comply with the Fundraising Regulator’s Code of Fundraising Practice and our use and storage of fundraising data is in full accordance with the GDPR. Pump Aid does not share its supporter details with other organisations and we do not purchase cold contact lists. Supporters on Pump Aid’s fundraising database are contacted in the manner they prefer and we encourage them to contact us with any feedback. The Charity received no complaints with regard to its fundraising activities in the year under review (2024: none).

GOING CONCERN

Trustees have reviewed income projections for 2025/26 and 2026/27, have assessed the economic climate and its potential impact on the Charity and have considered a report on the financial sustainability of the organisation prepared by the Senior Management Team. Because Beyond Water Malawi is wholly dependent on the income raised by Pump Aid UK and Pump Aid Malawi is ultimately liable for all expenditure incurred by Beyond Water Malawi, for the purposes of their going concern assessment, Pump Aid’s trustees have considered these entities as if they were one.

The sudden and dramatic reductions in US Aid and UK Aid and those of other agencies sent shock waves around the world. US Aid accounts for two thirds of the budget of the Malawi Ministry of Health and Malawi has been a major recipient of UK Aid funding too, so the short-term effect of

Page | 10

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

this on Malawi is likely to be devastating. But, in the long-term, if it helps to reduce Malawi’s dependence on countries and organisations over which it has little or no control, it may prove to be beneficial. Pump Aid’s focus on delivering aid through enterprise has reduced its eligibility for government funds and it received nothing from either US Aid or UK Aid in 2024/25 and it is not anticipating any direct funding from either of these sources in 2025/26.

So, although the situation is challenging for all international aid organisations, trustees believe Pump Aid’s long-term sustainability is not in doubt and that the repositioning of the Charity as a social impact business means it will have little difficulty in generating the resources it needs to meet the requirements of a going concern.

FINANCIAL REVIEW OF 2024/25

Income

As Pump Aid (through Beyond Water) has steadily repositioned itself away from being a traditional NGO towards a more customer focussed, social impact business, it has also needed to refine its approach to funders. This has inevitably led it away from funders who had been generous in the past, including the UK government, and towards funders that see sustainability as more important than process or delivery. Attracting new funders and securing first-time funding from them is an understandably protracted task and trustees were aware that the move from one group of funders to another might cause a slight hiatus in the receipt of funds and that has indeed been the case. Trustees were therefore pleased to see an increase in income in 2024/25 which, at £1,022,595 (pre-deferrals), saw Pump Aid’s income exceed £1m for the first time in three years, as the transition to new funding streams finally began to take effect. New funding streams are looking increasingly promising and trustees anticipate that income in 2025/26 will also exceed £1m.

This brief hiatus in funding would have been far greater without the continued support of Pump Aid’s most loyal funders and trustees would like to thank the Medicor and Waterloo Foundations, Waiakea Springs, Thirsty Planet and Rotork plc, in particular, for their sustained and significant funding, which helped us maintain our work on the ground while we developed the income streams we need for the future. Our changed approach to funding is further evidenced in the breakdown of income in the table below, which shows how we have steadily moved away from the simple installation of water pumps towards securing the ongoing viability of community water networks and how funding for our enterprise activities has risen from less than 5% of our total income, when this journey started, to more than 90% of total income now.

2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25
Community water, hygiene and sanitation
64.3%
41.6%
38.2%
31.9%
18.0%
12.1%
9.3%
12.8%
8.9%
WASH for vulnerable populations
16.3%
14.3%
18.3%
13.8%
9.8%
18.2%
5.1%
5.1%
0.6%
Urban WASH and entrepreneurship
15.1%
4.6%
0.5%
-
-
-
-
-
-
Enterprise for WASH and agriculture
4.3%
39.5%
43.0%
54.3%
49.9%
26.4%
18.5%
9.2%
2.7%
Enterprise for repair and maintenance
-
-
-
-
22.3%
43.3%
67.1%
73.0%
87.8%
TOTAL INCOME
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
~~SEE~~

Expenditure

Expenditure on charitable activities in the year was virtually unchanged on 2023/24, though we spent less on pump manufacturing and sales, as we continued to focus on the development of our professionalised repair and maintenance service and transferred our entire field team into this

Page | 11

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

workstream. As we become increasingly funded by funders who are more interested in sustainable impact than simple beneficiary numbers, we have continued to invest in our digital monitoring and management systems and, this year, moved the bulk of our community collections and area mechanic payments onto Airtel Money. This digital money service, using mobile phones, has not only accelerated our receipt and payment services, it has also reduced our use of cash with all the associated improvements in accuracy and security you might expect.

Having established ourselves as the market leader in professionalised repair and maintenance in Malawi, our in-house monitoring and reporting system is now also attracting attention. Accessed and updated by our field teams through their phones and tablets, it offers real-time monitoring of the waterpoints under contract, an on-line dashboard that details repairs, service visits, and contract compliance, and provides verifiable waterpoint performance and functionality data on a weekly basis. We are told it is far superior to any comparable management information system in Malawi and we are looking into the potential of licencing its use to other NGOs.

RESERVES POLICY

Trustees believe unrestricted reserves are necessary for three reasons:

Trustees acknowledge that the Aid sector is sailing in uncharted waters but, this notwithstanding, they believe their minimum unrestricted reserves target of £300,000 is more than sufficient to protect the Charity from any unanticipated shocks.

Current Reserves

The Group Charitable Company’s free and unrestricted reserves figure of £822,802 at March 2025 is more than double Trustees’ target and free reserves now stand at their highest level since 2010. While many actions have contributed to this, the two most significant were the restructuring Pump Aid undertook at the start of 2020 and the decision the Board took to focus on enterprise, which has enabled Pump Aid to ride out the Covid storm and more recent disruptions in the aid sector and grow its operations with more ease than many much larger charities.

The effect of the recent changes to international aid on countries like Malawi is likely to be long lasting and Trustees have given management permission to invest some of the Charity’s surplus reserves on increasing Malawi’s resilience to this and future global events.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the Directors has confirmed there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

Page | 12

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

Audit Consult, a Malawi based external auditor, was reappointed in 2024 to provide independent oversight of Pump Aid’s Malawi operations. They have conducted a local audit of Pump Aid Malawi and Beyond Water Malawi and have provided information and assistance to the Charity’s auditor in the UK.

AUDITORS

Shaw Gibbs (Audit) Limited were appointed to act as the charitable company’s auditors last year and a resolution appointing them as the Charity’s UK auditor for the ensuing year will be put to the AGM.

For and on behalf of the board of Trustees

Sandra Welch Chair 31[st] July 2025

Page | 13

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Sandra Welch (Chair) – Appointed July 2023 Spencer Mahony – Appointed July 2016, resigned July 2024 Eric McKenzie - Appointed September 2023 Ben Nealon OBE - Appointed November 1998, resigned June 2024 Justine Reader - Appointed September 2023 Gerard Tyler – Appointed July 2016 Pramodrai Unia – Appointed May 2023, resigned July 2024 Dave Waller – Appointed July 2016 Angela Zamaere-Smith - Appointed September 2023, resigned July 2024

Charity Number

1077889

Company Number

03661446

Registered office and principal address

3[rd] Floor, 86-90 Paul Street, London, EC2A 4NE

Bankers

Barclays Bank Standard Bank 1-7 King Street Capital City London, EC2V 8AU Lilongwe, Malawi

UK Auditors

Shaw Gibbs 2[nd] Floor, 201 Great Portland Street, London, W1W 5AB

Malawi Auditors

Audit Consult Vanguard Life Insurance House, Mandala Road, Lilongwe 3, Malawi

Page | 14

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charity’s trustees (who are also the directors of Pump Aid for the purposes of company law) are responsible for preparing a Trustees’ Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires Trustees to prepare financial statements for each financial period, which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure of the Charity for that period.

In preparing these financial statements, Trustees are required to:

Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Charity 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 Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page | 15

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

INDEPENDENT AUDITOR’S REPORT To the Members of Pump Aid

OPINION

We have audited the financial statements of Pump Aid (‘the charitable company’) and its subsidiaries (together the “group”) for the year ended 31[st] March 2025, which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Cash Flow Statement and Notes to the Financial Statements, including significant accounting policies. The financial reporting framework 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 consolidated financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities 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 Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 INFORMATION

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other

Page | 16

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

RESPONSIBILITIES OF THE TRUSTEES

As explained more fully in the Statement of Trustees’ Responsibilities (set out on page 9), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability 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 charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 auditor’s 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, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Page | 17

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We considered the nature of the charitable company’s sector and its control environment, and reviewed the charitable company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also identified the laws and regulations applicable to the charitable company through discussions with the Trustees and other management, and from our cumulative audit, knowledge and experience of the charitable company.

We obtained an understanding of the legal and regulatory framework that the Charitable company operates in, and identified the key laws and regulations that:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page | 18

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Records) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Shaw Gibbs (Audit) Limited Statutory Auditors Sutton

Date: 31[st] July 2025

Shaw Gibbs (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page | 19

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31[st] March 2025

Notes Unrestricted
Funds		 Restricted
Funds		 Total
2025		 Total
2024
£ £ £ £
INCOME
Donations and voluntary income 2 207,854 596,033 803,887 644,729
Income from charitable activities 3 195,564 - 195,564 208,447
Bank interest 10,989 - 10,989 8,687
Other Income 12,155 - 12,155 -
TOTAL GENERATED INCOME 426,562 596,033 1,022,595 861,863
Deferred income 14 - (63,800) (63,800) -
TOTAL RECOGNISED INCOME 426,562 532,233 958,795 861,863
EXPENDITURE
Costs of raising funds
Costs of generating voluntary income
and income from charitable activities and income from charitable activities 52,671 67,647 120,318 115,697
Charitable activities
Delivering water, sanitation and
hygiene improvement in Malawi 180,465 492,779 673,244 679,024
TOTAL EXPENDITURE 4 233,136 560,426 793,562 794,721
Net income and net movements in
funds 15 193,426 (28,193) 165,233 67,142
Reconciliation of funds
Total funds brought forward 701,527 52,085 753,612 686,470
TOTAL FUNDS CARRIED FORWARD 16 894,953 23,892 918,845 753,612

All income and expenditure is derived from continuing activities.

Page | 20

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31[st] March 2024

Notes Unrestricted
Funds		 Restricted
Funds		 Total
2024		 Total
2023
£ £ £ £
INCOME
Donations and voluntary income 2 158,326 486,403 644,729 844,865
Income from charitable activities 3 200,279 8,168 208,447 138,042
Net profit on disposal of assets - - - 101
Bank interest 8,687 - 8,687 1,597
TOTAL GENERATED INCOME 367,292 494,571 861,863 984,605
Deferred income 14 - - - (25,000)
TOTAL RECOGNISED INCOME 367,292 494,571 861,863 959,605
EXPENDITURE
Costs of raising funds
Costs of generating voluntary income
and income from charitable activities and income from charitable activities 49,238 66,459
115,697		 115,697 104,446
Charitable activities
Delivering water, sanitation and
hygiene improvement in Malawi 232,447 446,577
679,024		 679,024 805,158
TOTAL EXPENDITURE 4 281,685 513,036 794,721 909,604
Net income and net movements in
funds 15 85,607 (18,465) 67,142 50,001
Reconciliation of funds
Total funds brought forward 615,920 70,550 686,470 636,469
TOTAL FUNDS CARRIED FORWARD 16 701,527 52,085 753,612 686,470

All income and expenditure is derived from continuing activities.

Page | 21

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CONSOLIDATED BALANCE SHEET AT 31[st] March 2025

REGISTERED COMPANY NUMBER: 03661446 (England & Wales)

Notes 2025 2024
£ £
FIXED ASSETS
Tangible assets 9 13,278 4,342
13,278 4,342
CURRENT ASSETS
Stocks 11 84,607 46,256
Debtors 12 27,125 35,038
Cash at bank and in hand 964,682 699,208
1,076,414 780,502
Less: CURRENT LIABILITIES
Creditors: Amounts falling due within one year 13 (170,847) (31,232)
NET CURRENT ASSETS 905,567 749,270
NET ASSETS
Total assets less total liabilities 918,845 753,612
Represented by:
Restricted funds 23,892 52,085
Unrestricted funds 894,953 701,527
TOTAL FUNDS CARRIED FORWARD 16 918,845 753,612

For the financial year ended 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit was required in accordance with section 152 of the Charities Act 2011.

The Trustees, who are regarded as directors for the purpose of the Companies Act 2006, acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by the Trustees, authorised for issue on 31[st] July 2025 and signed on their behalf by:

—— Sandra Welch Chair

Page | 22

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CHARITABLE COMPANY BALANCE SHEET AT 31[st] March 2025

REGISTERED COMPANY NUMBER: 03661446 (England & Wales)

Notes 2025 2024
£ £
FIXED ASSETS
Tangible assets 9 5,255 3,860
Investments 10 1 1
5,256 3,861
CURRENT ASSETS
Stocks 11 18,414 19,043
Debtors 12 31,047 33,872
Cash at bank and in hand 926,089 698,856
975,550 751,771
Less: CURRENT LIABILITIES
Creditors: Amounts falling due within one year 13 (134,112) (21,677)
NET CURRENT ASSETS 841,438 730,094
NET ASSETS
Total assets less total liabilities 846,694 733,955
Represented by:
Restricted funds 23,892 52,085
Unrestricted funds 822,802 681,870
TOTAL FUNDS CARRIED FORWARD 16 846,694 733,955

As permitted by Section 408 Companies Act 2006, the charitable company has not presented its Statement of Financial Activities (also known as The Profit & Loss Account under Company Law). The charitable company made a surplus for the financial year of £112,739 (2024: £66,325)

For the financial year ended 31 March 2025 the charitable company was entitled to exemption from audit under section 145 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit was required in accordance with section 138 of the Charities Act 2011.

The Trustees, who are regarded directors for the purpose of the Companies Act 2006, acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by the Trustees, and authorised for issue on 31[st] July 2025 and signed on their behalf by:

—— Sandra Welch

Chair

Page | 23

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

CONSOLIDATED CASH FLOW STATEMENT for the year ended 31[st] March 2025

2025 2024
£ £
Reconciliation of net movement in funds
to net cash flow from operating activities
Net movement in funds 165,233 67,142
Bank interest (10,989) (8,687)
Depreciation 7,353 6,353
Decrease / (Increase) in stock (38,351) 6,959
Decrease / (Increase) in debtors 7,913 11,767
Increase / (Decrease) in creditors 139,615 (35,148)
Net cash (used in) / provided by operating activities 270,774 48,386
Cash flows from investing activities
Bank interest received 10,989 8,687
Payments to acquire fixed assets (16,289) -
Net cash (used in) investing (5,300) 8,687
Change in cash and cash equivalents in the
reporting period 265,474 57,073
Cash and cash equivalents at the beginning of the year 699,208 642,135
Cash and cash equivalents at the end of the year 964,682 699,208
Cash balances are held in the following locations
United Kingdom 896,009 629,834
Overseas 68,673 69,374
CASH BALANCES at 31st MARCH 2025 964,682 699,208
Analysis of changes in net debt

The charity had no net debt during the year

Page | 24

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31[st] March 2025

1. ACCOUNTING POLICIES

Legal status of the Charity

Pump Aid is a company limited by guarantee incorporated on 4[th] November 1998. Its registered office is at 3[rd] Floor, 86-90 Paul Street, London, EC2A 4NE.

Basis of accounting

The Consolidated Financial Statements have been prepared in accordance with the Charity's Memorandum & Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1[st] January 2019)”.

Since April 2022, some of the Charity’s activities have been delivered by Beyond Water Malawi, a Malawi registered company of which the Charity is the ultimate sole beneficial owner. The Consolidated Financial Statements of the Charity include all of the funds it raised during the year and all of the activities it delivered, regardless of which company raised the funds or delivered the activity.

The Company meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The accounting policies of the Charity have not changed during the period.

Preparation of the financial statements on a going concern basis

As stated on page 9 of the Trustees’ Report, Trustees believe there are no material uncertainties that call into doubt the Charity’s ability to continue as a going concern and the financial statements have therefore been prepared on the basis that the Charity is a going concern.

In reaching this conclusion, Trustees have considered the enduring effect of Covid19 and more recent issues in the aid sector. The Charity continues to employ all its staff on a full-time basis and believes it can continue to fund its existing and future programme commitments well into the next financial year. While the recent changes in international aid funding has caused some disruption to the sector, Trustees are confident that Pump Aid can continue as a going concern for the foreseeable future.

Functional currency

The financial statements are prepared in pounds sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

Income

Income is recognised when the Charity is entitled to the funds, any requirements attached to the income have been met, it is probable the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all the costs related to a category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Expenditure is recognised once there is an obligation to make a payment to a third party, it is probable

Page | 25

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Almost all costs are directly attributable to programmes and are recovered either by direct recharge or by apportionment. Unlike larger charities with substantial UK and overseas offices, Pump Aid has a very small central team which both develops and delivers programmes and, aside from the proportion charged to fundraising and governance, the payroll and occupancy costs of the central team are charged to the programmes they deliver.

Critical accounting judgements and estimation uncertainty

In the application of the Charity’s accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Trustees do not consider there to be any critical accounting estimates or judgements in preparing these financial statements.

Pension costs

In Malawi, the Charity contributes to a defined contribution pension scheme and, in the UK, the Charity contributes to any personal scheme which meets its obligations under auto enrolment. The amounts charged in the financial statements are the employer’s contributions payable in the financial year.

Operating leases

Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight-line basis over the life of the lease.

Tangible fixed assets

Fixed assets are stated at cost less depreciation. They are depreciated at rates intended to reduce their cost to their residual value over their estimated useful life (currently 33.3% on a straight-line basis). Any asset costing less than £500 is fully depreciated in the year of acquisition. All assets are inspected regularly for any impairment and any defects fixed to maintain their value and usefulness.

Investments

Investments in subsidiary undertakings are stated at cost less provisions. Any provisions made against these investments are charged in the Statement of Financial Activities.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. All financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Stock

Stocks are stated at lower of cost or net realisable value.

Debtors and prepayments

Trade and other debtors are recognised at the settlement amount after any provision for bad and doubtful debts. Prepayments are valued at the amount prepaid.

Page | 26

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term, highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation that will probably result 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 recognised at their settlement amount.

Foreign currency translation

Transactions in foreign currencies are translated into sterling at the average rate of exchange pertaining to the relevant accounting period. At each reporting date, monetary assets and liabilities denominated in foreign currencies are retranslated at the rates prevailing at the reporting date. Exchange differences are recognised through the Statement of Financial Activities.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Restricted funds are donations which the donor has specified are to be used solely for specific projects or for specific aspects of the Charity’s work to be delivered in specific locations.

2. DONATIONS AND VOLUNTARY INCOME

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Donations
Waterloo Foundation 12,500 127,600 140,100 12,500 121,400 133,900
Medicor Foundation - 140,000 140,000 - 140,000 140,000
Rotork PLC - 100,000 100,000 - 72,000 72,000
Oak Foundation 39,500 39,500 - - -
Uptime Catalyst 26,645 - 26,645 8,816 - 8,816
Estate of Jeremy Berkoff 25,450 - 25,450 - - -
Urenco Ltd - 25,000 25,000 - 25,000 25,000
Sense Foundation - 21,035 21,035 - - -
Aspect Capital 19,500 - 19,500 5,000 - 5,000
Roland Fox and Colette Flanagan 11,292 - 11,292 14,334 - 14,334
Coles Medlock Foundation - 10,000 10,000 - 5,000 5,000
One Days Wages - - - - 23,729 23,729
Charles Hayward Foundation - - - - 15,000 15,000
Peter Stebbings Memorial Charity - - - - 10,000 10,000
Gift Aid 7,431 - 7,431 11,105 - 11,105
Donations of less than £10,000 or Anonymous 105,036 71,500 176,536 106,571 56,000 162,571
207,854 534,635 742,489 158,326 468,129 626,455
Government grants
State of Guernsey - 43,526 43,526 - 18,274 18,274
French Embassy in Malawi - 17,872 17,872
- 61,398 61,698 - 18,274 18,274
Total Donations and Voluntary Income 207,854 596,033 803,887 158,326 468,403 644,729

The restricted grant of £127,600 from the Waterloo Foundation shown above is for the period October 2024 to November 2025 and £63,800 of this grant has been deferred into 2025/26 (see note 14).

Page | 27

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Thirsty Planet 108,284 - 108,284 104,036 - 104,036
Waiakea Springs 63,553 - 63,553 65,107 - 65,107
Income from sales of pumps 791 - 791 14,852 - 14,852
Income from waterpoint repairs 22,457 - 22,457 8,158 - 8,158
Purple Field Productions - - - 3,720 8,168 11,888
Other Charitable Income 479 - 479 4,406 - 4,406
Total Income from Charitable Activities 195,564 - 195,564 200,279 8,168 208,447

4. EXPENDITURE ANALYSIS

4. EXPENDITURE ANALYSIS
Operational Total Operational Total
Staff costs costs 2025 Staff costs costs 2024
£ £ £ £ £ £
Costs of generating voluntary income 84,075 36,243 120,318 94,642 21,055 115,697
Charitable expenditure
Delivering water, sanitation and
hygiene improvement in Malawi 311,338 319,540 630,878 346,631 293,227 639,858
Governance costs 23,565 18,801 42,366 20,910 18,256 39,166
Total Expenditure 418,978 374,584 793,562 462,183 332,538 794,721

Costs of generating voluntary income include staffing, office and publicity costs related to fundraising.

5. STAFF COSTS

5. STAFF COSTS
Total Total
2025 2024
£ £
Gross emoluments 361,300 395,902
Employer’s social security costs 14,341 17,908
Pension contributions 33,155 35,201
Health insurance for staff in Malawi 10,182 13,172
Total Staff Costs 418,978 462,183

Key management personnel (KMP) of the Charity comprise the Trustees, the UK based Chief Executive and Head of Business Development, and Beyond Water’s Malawi based Managing Director. Remuneration of KMP (including employer’s social costs) was £180,032 (2024: £152,792).

In Malawi, the Charity operates a defined contribution pension scheme, whose assets are held in an independently administered fund and in the UK it makes contributions to any personal pension scheme which meets its obligations under auto enrolment. Pension contributions payable by the Charity in the year amounted to £33,155 (2024: £35,201), including contributions of £12,791 (2024: £10,154) payable by the Charity on behalf of higher paid staff.

by the Charity on behalf of higher paid staff.
Total Total
2025 2024
Average number of staff excluding trustees
Based in Malawi 14.0 14.5
Based in the United Kingdom 4.4 5.2
Total Staff 18.4 19.7

Page | 28

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

6. GOVERNANCE COSTS

6. GOVERNANCE COSTS
Total Total
2025 2024
£ £
Governance costs comprise
Staff costs 23,565 20,910
Statutory auditor’s remuneration 7,700 7,325
Subsidiary entity’s auditor’s remuneration 7,566 7,795
Premises, office costs and travel 3,535 3,136
Total Governance Costs 42,366 39,166

Governance costs comprise the costs of external audits, the costs of trustees’ meetings, the costs of statutory compliance and other costs incurred in the strategic oversight of the Charity.

7. TRUSTEES’ EMOLUMENTS AND REIMBURSED EXPENSES

No payments were made to any of the Charity’s Trustees in respect of their role as trustees during the financial year (2024: £nil) and no Trustees were reimbursed expenses (2024: £nil).

8. CORPORATION TAX

As a charity, Pump Aid is exempt from UK tax on income and gains to the extent that these are applied to its charitable objects. No UK tax charges have arisen during the year or in the previous year.

9. FIXED ASSETS

9. FIXED ASSETS
Fixtures and Motor Total
GROUP Land Equipment Vehicles 2025
£ £ £ £
Cost at 1stApril 2024 1,232 20,535 121,660 143,427
Additions during period - 5,041 11,248 16,289
Disposals during period - (1,978) - (1,978)
Cost at 31st March 2025 1,232 23,598 132,908 157,738
Accumulated depreciation at 1stApril 2024 - 18,109 120,976 139,085
Charge for the year - 3,289 4,064 7,353
Depreciation on disposals - (1,978) - (1,978)
Accumulated depreciation at 31st March 2025 - 19,420 125,040 144,460
Net book value at 31st March 2025 1,232 4,178 7,868 13,278
Net book value at 31st March 2024 1,232 2,426 684 4,342
Fixtures and Motor Total
CHARITABLE COMPANY Land Equipment Vehicles 2025
£ £ £ £
Cost at 1stApril 2024 1,232 19,559 121,660 142,451
Additions during period - 5,041 - 5,041
Disposals during period - (1,979) - (1,979)
Cost at 31st March 2025 1,232 22,621 121,660 145,513
Accumulated depreciation at 1stApril 2024 - 17,613 120,976 138,589
Charge for the year - 2,964 684 3,648
Depreciation on disposals - (1,979) - (1,979)
Accumulated depreciation at 31st March 2025 - 18,598 121,660 140,258
Net book value at 31st March 2025 1,232 4,023 - 5,255
Net book value at 31st March 2024 1,232 1,944 684 3,860

Page | 29

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

10. INVESTMENTS

10. INVESTMENTS
Total Total
CHARITABLE COMPANY 2025 2024
£ £
Wholly owned subsidiary – Beyond Water Limited 1 1
Total Investments 1 1

The Charity has a registered branch in Malawi, Pump Aid Malawi, which used to deliver all its activities in that country. Since April 2022, some of its activities have been delivered by Beyond Water Malawi (Company Number: 01756706. Registered Office: 14/211, off Presidential Way, PO Box 2712, Lilongwe), which is a wholly owned subsidiary of Beyond Water Limited (Company Number: 7387428. Registered Office: 86-90 Paul Street, London, EC2A 4NE), which is a wholly owned subsidiary of the Charity.

11. STOCKS

11. STOCKS
GROUP GROUP CHARITABLE COMPANY CHARITABLE COMPANY
Total Total Total Total Total
2025 2025 2024 2025 2024
£ £ £ £ £
Stocks including small tools, fuel and materials for building pumps
Stocks of finished pumps 14,192 14,192 14,591 14,192 14,591
Materials for making and repairing pumps 69,962 69,962 30,885 3,769 3,985
Other stock items 453 453 780 453 467
Total Stocks 84,607 46,256 18,414 19,043

12. DEBTORS

12. DEBTORS
GROUP GROUP CHARITABLE COMPANY CHARITABLE COMPANY
Total Total Total Total Total
2025 2025 2024 2025 2024
£ £ £ £ £
Trade debtors 23,481 23,481 31,234 23,480 31,234
Provision for doubtful debts - - (1,266) - -
Amount owed by group undertaking - - - 3,927 1,000
Other debtors 3,644 3,644 5,070 3,640 1,638
Total Debtors 27,125 35,038 31,047 33,872
13. CREDITORS(amounts falling due within one year)
GROUP GROUP CHARITABLE COMPANY CHARITABLE COMPANY
Total Total Total Total Total
2025 2025 2024 2025 2024
£ £ £ £ £
Trade creditors 87,299 87,299 13,641 55,202 7,888
Taxes and social security costs 4,327 4,327 3,560 4,327 3,560
Accrued audit fees 15,421 15,421 14,031 10,783 10,229
Deferred income 63,800 63,800 - 63,800 -
Total Creditors 170,847 31,232 134,112 21,677

13. CREDITORS (amounts falling due within one year)

14. MOVEMENT IN DEFERRED INCOME

14. MOVEMENT IN DEFERRED INCOME
GROUP CHARITABLE COMPANY CHARITABLE COMPANY
Total Total Total Total
2025 2024 2025 2024
£ £ £ £ £
Deferred income at 1stApril 2024 - 26,093 - 25,000
Amounts released from previous years - (26,093) - (25,000)
Incoming resources deferred in the year 63,800 - 63,800 -
Deferred income at 31st March 2025 63,800 - 63,800 -

Page | 30

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

15. MOVEMENT IN FUNDS

15. MOVEMENT IN FUNDS
Net
Balance at movement Balance at
2025 GROUP 1st April 2024 Income Expenditure in funds 31st March 2025
£ £ £ £ £
RESTRICTED FUNDS
WASH for vulnerable populations 52,085 5,000 (33,193) (28,193) 23,892
Enterprise for WASH and agriculture - 25,000 (25,000) - -
Enterprise for repair and maintenance - 502,233 (502,233) - -
Movement in Restricted Funds 52,085 532,233 (560,426) (28,193) 23,892
UNRESTRICTED FUNDS 701,527 426,562 (233,136) 193,426 894,953
Movement in Total Funds 753,612 958,795 (793,562) 165,233 918,845
Net
Balance at movement Balance at
2025 CHARITABLE COMPANY 1st April 2024 Income Expenditure in funds 31st March 2025
£ £ £ £ £
RESTRICTED FUNDS
WASH for vulnerable populations 52,085 5,000 (33,193) (28,193) 23,892
Enterprise for WASH and agriculture - 25,000 (25,000) - -
Enterprise for repair and maintenance - 502,233 (502,233) - -
Movement in Restricted Funds 52,085 532,233 (560,426) (28,193) 23,892
UNRESTRICTED FUNDS 681,870 403,314 (262,382) 140,932 822,802
Movement in Total Funds 733,955 935,547 (822,808) 112,739 846,694
Net
Balance at movement Balance at
2024 GROUP 1st April 2023 Income Expenditure in funds 31st March 2024
£ £ £ £ £
RESTRICTED FUNDS
WASH for vulnerable populations 30,550 43,729 (22,194) 21,535 52,085
Enterprise for WASH and agriculture - 62,512 (62,512) - -
Enterprise for repair and maintenance 40,000 388,330 (428,330) (40,000) -
Movement in Restricted Funds 70,550 494,571 (513,036) (18,465) 52,085
UNRESTRICTED FUNDS 615,920 367,292 (281,685) 85,607 701,527
Movement in Total Funds 686,470 861,863 (794,721) 67,142 753,612
Net
Balance at movement Balance at
2024 CHARITABLE COMPANY 1st April 2023 Income Expenditure in funds 31st March 2024
£ £ £ £ £
RESTRICTED FUNDS
WASH for vulnerable populations 30,550 43,729 (22,194) 21,535 52,085
Enterprise for WASH and agriculture - 62,512 (62,512) - -
Enterprise for repair and maintenance 40,000 388,330 (428,330) (40,000) -
Movement in Restricted Funds 70,550 494,571 (513,036) (18,465) 52,085
UNRESTRICTED FUNDS 597,080 343,753 (258,963) 84,790 681,870
Movement in Total Funds 667,630 838,324 (771,999) 66,325 733,955

Page | 31

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total Unrestricted Restricted Total
GROUP Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Fund balances at 31stMarch represented by:
Tangible fixed assets 13,278 - 13,278 4,342 - 4,342
Current assets 1,052,522 23,892 1,076,414 728,417 52,085 780,502
Current liabilities (170,847) - (170,847) (31,232) - (31,232)
Fund balances at 31st March 894,953 23,892 918,845 701,527 52,085 753,612
Unrestricted Restricted Total Unrestricted Restricted Total
CHARITABLE COMPANY Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Fund balances at 31stMarch represented by:
Tangible fixed assets 5,256 - 5,256 3,861 - 3,861
Current assets 951,658 23,892 975,550 699,686 52,085 751,771
Current liabilities (134,112) - (134,112) (21,677) - (21,677)
Fund balances at 31st March 822,802 23,892 846,694 681,870 52,085 733,955

17. COMMITMENTS UNDER OPERATING LEASES

The Charity had no commitments under operating leases at 31[st] March 2025 (2024: none).

18. RELATED PARTY TRANSACTIONS

The Charity received funding in the year from Urenco Limited, a company that employs Gerard Tyler, one of the Charity’s trustees. Charitable donations made by Urenco are overseen by a grant making committee and are subject to a vetting and due diligence process in which Gerard Tyler takes no part. There were no conditions attached to Urenco’s donation that would not have accompanied any other donation to any other charity.

19. EVENTS AFTER THE REPORTING PERIOD

There were no significant events after the reporting period that would require disclosure in these group consolidated financial statements.

Page | 32

Trustees’ Report and Consolidated Financial Statements for the year ended 31[st] March 2025

______________________

GLOSSARY OF TERMS AND ABBREVIATIONS

AM A self-employed area mechanic BWM Beyond Water Malawi CBCCs Community Based Childcare Centres (rural nurseries for the under-5s) CWP(s) Community Waterpoint(s) CBM Community based management DFID The UK Department for International Development DWO District Water Office ENTREPRENEUR A self-employed artisan or trader FCDO The UK Foreign, Commonwealth & Development Office (formed by the merger of DFID and the Foreign and Commonwealth Office) GDPR General Data Protection Regulations JMP Joint Monitoring programme of the WHO and UNICEF MOU Memorandum of Understanding MVAC Malawi Vulnerability Assessment Committee NGO(s) Non-Governmental Organisation(s) PAM Pump Aid Malawi PRM Professionalised Repair and Maintenance SDGs The United Nations’ Sustainable Development Goals SELF-SUPPLY The delivery of incremental improvements to water for consumption and irrigation, financed by the users themselves UKAID Funds received from DFID or FCDO UN United Nations UNICEF The United Nations International Children's Emergency Fund WASH The collective term for Water, Sanitation and Hygiene interventions WHO World Health Organisation WPC Waterpoint Committee

Page | 33