The Garage Trust Limited
IA company limltsd by guarantse}
Report and Financial Statements
For the perlod ended 31 July 2025
Charity no.. 10g8975
Company no.. 04510240

THE GARAGE TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENrs
For the period ended 31 July 2025
Page
Legal and adminisirative information
Report of the Trustees
Report of the independent auditor8
9-11
Statem8nl of financial actiwlies
12
Balance sheet
13
ststement of ca$h flows
14
Notes foming part of the financial $tatemenls
15-25

THE GARAGE TRUST LIMITED
LÉGAL AND ADMINISTRATIVE INFOR￿TIoN
For the period •nded 31 July 2025
Trustees:
See Trustees Report
CEO:
Adam Taylor
Registered offlce:
The Garage
14 ChapelfEld North
Norwich
NR2 1NY
Indgpondent audltor8:
Sexty & Co
Chartered Certified Accountants & Registered Auditors
124 Thorpe Road
Norwich
NR1 1RS
Bankers:
Nalwosl Bank plc
1 Surrey Street
Norwich
NR1 3RW
Solicltors:
Leathe5 Prv)r Solic'rtors LLP
74 The Cbse
Norwich
NR14DR

THE GARAGE TRUST LIMITED
REPORT OF THE TRUSTEES
For the perlod ended 31 July 2025
The TrJ$lges presenttheir Teport and the audited financial statements of the charity forthe w'od ended
31July2025. The Trustees have adopted the provisions of Ihe Statement of Recommended Practice
{SORPI 'Accounling and Reporting by Charrties. {FRS 1021 in preparing the annual report and
financial statements of the charty.
RBferen¢e and admlnlstratlve detsil8 of thè TrusL its Trustees and advise
The Garage Trust Limited 1$ o company limited by guarantee Inumber 045102401 aTrJ a registered
charity (number 10989751. It is governed by ils Memorandum ofAssocialion and Articles ofAsso¢ialion
dated 13 August 2002 and amended by speu'al resolution on 30 June 2003 and on the 10 August
2015.
The amended Memorandum and Articles of Association provide for the following changes..
1. Changes to the charrtable objects lo refflect the growing work oflhe organisation. Tha amencl
objects are included in the 'our purpose and activities, section latèr in this r&port.
2. All other Iruslees will be appointed by ordinary resolution OT by a decision of the trustees.
3. The nomination and appointment of the 'Chairman of the Trustees, was changed from joint
responsibility of the two foundirbg organisalions to that of the Tiuslees.
4. The minimum number oftrustees was reduced to 9, the maximum number in¢reased to 13 and
the number required lo reach quorum adjusted lo 5.
5. A rotation of Trustees clause was included to PTovide for th8 automatic retirement al
subsequent Annual General Meetings of one third lor nearest number to one third if not a
multiple of three) of all of the longest serving trustees from office. The clause indude8 provision
for the retiring trustegs lo sland for re-election if they $0 wish.
The names of the Tnjstees, WIKJ are Directors for the purpose of Company I￿ and Truslees for the
purpose of charity law, who served during the year and up to the dale of this Report are set out as
follows:
Trustees..
Sarah Hamilton
Emily Field
Dani81 Thower
Joanne Warr
Sarah Cromplon-Howes
Michael Laun¢hbury {Chairl
Vivian Chinasa Ezugha Iresgned 7 November 2024}
Nadine Zubair
Ayla Fulstow I￿s1gned 5 September 20251
Jeremy Gilks
Jacqueline 8ush (resigned 5 September 20241
Tim Brain
At the 31 July 2025. 10 tru$tee$ were in office.

THE GARAGE TRUST LIMITED
REPORT OF THE TRUSTEES
For the perfod ended 31 July 2025
Our purpogeg and activities
The purposes of the charty (objeclsl are defined in the Memorandum Articles of Association of
Th8 Garage Trust Limited. The Garage Trust Limited is a company limited by guarantee (number
045102401 and a registered ¢harrty Inumber 10989751. It is governed by its Memorandum of
Association and Articles of As80cialion dated 13 August 2002 and amended by special resolution on
30 June 2003 and on the 10 August 2015. The Garage Trust operates two sites The Garage {NO￿lchI
and The Workshop {King's Lynn}.
Together, The Garage and The Workshop are a hub for performing orts. Greative playground - frc
first steps lo professiona18'. r('s a safe place for everyone to learn. experience and create, to be inspired
to succeed.
Our Vlslon.. To change people's lives through art.
Our Mission.. To be Ihe place. for performing arts.
The v8nues in NOn￿1¢h and King's Lynn are creative spaces for the communities of Norfolk and
bèyond_ The trust works with local and national partners lo provid8 high qLJality p8rfomiing arts
programming, participal￿n. education and training for all ages. Venues are open to everyone, but the
trust has a particular focus on young people from all backgrounds.
The Garage Trust operalgs year-round, in Theatre, MUS￿ and Dance. This programmg of arti￿ty
includes..
Outreach and comrnunity projects
Weekly regular classes,
Inl&rvenlion programmes
Participant led performance compani8s,
Accredited education courses,
Artist Development Program.
Incubated and associate PTofessional performance companies,
Presenting small scale theatre and dance performances,
Producing and Co-producing great new pieces of performance for young audiences.
Publlc benefit
In shaping objeth'ves for the year and planning aclivrties, the Trustees have Considered the Charity
Commission's guidance on public benefit, including the guidance on public benefit and fee chaiging.
The Garage Trust relies on grants and the incc*ne generated from hires and course fees to COV8r ils
operating costs. In selling the level of hire charges, fees. concessiorb5 and free bursaries, the Trustees
give careful ¢onsideratK)n to the ￿SSIbIlty of programmes and faciif(ies in relation lo the charitable
objectives.

THE GARAGE TRUST LIMrrED
REPORT OF THE TRUSTEES
For the period ended 31 July 2025
wrth a reinvigorated business pLqn wtth a vision and mission, launched al the AGM in 2024, the
organisation has further evolved in its practice and methodologies. This has piovided a More resilient
model and better future securty for the eharity.
During th8 p8riod, The Garage Trust staff team honed, and applied in practice. communty codesign and
cocreation working beyond the Paul H￿lyn Foundation and National Lottery Community foundation
funded projects. Embracing the methodology and framin9 of thè approach to working with communrf(ies
and has resutted in gTeal successes., including a high proportion of mutti-year grant applications being
approved lo support funded projects in the years ahead, and securing right lo puichase the freehold of
th8 new and long term venue in King's Lynn.
Throughout tho18s1 y8ar sixteen months. the organisath.on engaged with a number of groups cocrealing
cultural activities and events for a wider group of participants and audiences. From international projects
through lo gigs curated by young Garage programm8 partiapants, putbng diverse voices on stage5 and
in studios.
As ever, intervention programmes have begn essential lo th8 success in working with people who face
challènging circumstances. During the period, the management team has compiled the methodology
developed over years and have applied this in intervention and codesign activty. Such activity has
expanded lo include Allerrbalive Provision over the last academic year with planning and execulion of a
wider range of courses for young people not succeeding our stale funded schooling system. These
programTnes not only have a huge impact on the young people accessing them. but also maximise use
of venue spaces availab￿ in the Norwich bLrilding and of resource available from delNery team
colleagues.
The weekly programmes of dan￿, rnuS￿ and drama classes complimènted by holiday activities and
afterschool clubs changed post pandemic ané the evolution continues. Whilst the ethos and approach
rfjmains the same, the impacl of inflation both on the costs lo the Garage Trust and to participants {less
household disptrsable income) is noteworthy. Staff teams aT8 reporting a large increase of challerkging
behavtours In school aged young people and a higher incidence of mentsl ill health. The Garage Trust
delivers in the region of 200 weekly regular classes across two sltes and in community settings. The
efforts irb programm@ development remain focussing on quality, curriculum. opportunities and retention.
The education programme for The Garage and The Workshop demonstrate that cultural organisations
can deliver qualty qLFalificatiDns experiences and exemplary training routes. This presents opportunities
for a really diverse group of learners- from a high proportion of trans and non binary students to those
young people who, logelherw(ch their parenlsor caiers. sought alternatwe education routes and identffied
these programmes as a safe place to learn and achieve.
The trust theatres hosted another Sgries of successful co-produ¢tions of 'Cinderella Rocks, for children
over Christmas. This coprodudion only played in the Norwich venu8 this y8ar and was not a new
production. The decision lo remount was taken to minimise expenditure and maximise audience return
lor a show first staged during the pandemic {and was cut short of the full run due to the omicron variant
striking the cast down befort the last show). Whilst audience numbers aren't yel as high as pr&pandemi¢.
management continues lo work on planning future productions as they fill a niche across the county
landscape for 8arty y8ars p8rfomianc&s.

THE GARAGETRUST UMITEO
REPORT OF THE TRUSTEES
For the period ended 31 July 2025
The Garage Trust Gommi$siongd a series of productions for young people in 2024-25 and peop￿ of all
ages with Profound and Multiple Leaming Disabilities. Productions such as 'An¢ient Oak of Baldorf by
Frozen Light theatre company, commissioned productiorbs by this8gg and on going support of Snoo
Wilson playwnghling prize with UEA. retsived critical acclaim. These nat￿nallY significant production8
and events complement the seasons of perfomiance for young audiences both on stages but also in open
air selliThJs In community parks for the last years.
The Garage Trust hosted an inlemalional projeet lo programme artists from Italy, South Africa and France
to perform in the Garage venue in Nowich and work wrth young people from Norwich anil West Norfolk.
These young people went on to v4ork with perfomiance and delivery artists to create a responsive show.
This new way of working wÉth intemational artists enhanced Staff development and civic events.
Incluslon Programme Data
Confidence
Althe start of the course, 0% of participants fell extreme￿ confident. By tho ond that had increase lo 63Vo
feeling extremety confident and 280h feeling very confident.
Social skllls
Al the start of the course only 250/0 fell good with their social skilL8 by the end 68% fell extremely good
and 36Yo felt very good with their Social skills.
Teamwork
Only 100A of the class felt that they had extremely good teamwork skills, by the end this had risen lo 540A.
Happiness
56% felt in the middle or lower when I comes to their happiness at the stsrt of the course. By the end
55Qkn felt extremely happy and 270A fell very happy.
Overcoming challenges
0% of partiopants atthe start fell extremely confident al overcoming challenges- bythe end oflhe coursè
75.kn felt that they could overcome ehallenges.
Worf(ing wilh The G8r89e has been a gr8at 8xp8rience. They afB orgarjised, professional, and led am
sessKJns to a high standard. From the oulsel, communicalion with Tlje Garag8 Staff was clearand timely.
which gre8tly contributed lo the smoolh mnning of Ihe provision for the Ghildren. We collaborat8d closgly
to ensure the Child￿n,$ Isnguage needs were met. making Ih8m fegl supporled and heard.
It was engaging and offe￿d the Ghildren a sense orr￿edoM. Seeing thèirhappy, smiling faces was truly
warding."
Norfr)Ik County Council staff member

THE GARAGE TRUST UMITED
REPORT OF THE TRUSTEES
For the perfod ended 31 July 2025
Artlstlc Excellenc?
TheTruslees 8Te committed lo artL81ic excellence within all aspects o f I h e programme,.believing
that those aecessing The Garage should have the very best artistic experience regardless of their
background or experiences. Senior management personnel UT)dertake a number of visits to peer
OTganisalions to benchmark rts work.
Volunteers
The Trustees recognise the importance of volL5nteers. Twelve people volunteered during the period.
A total of 469 voluntary houTS weTe undertaken.
Related parties
None of The Garage Trustees receive remuneration or other benefi15 from their work wrth the Trust.
Any Gonnection between Trustees or management of the Trust with any area rel8vanl to the Trust rnusl
b8 fomially declar8d to the full board of Trustegs as any other contractual relationship wf(h a related
paty.
The govemors and connected pei8ons have related paty transactions as follows..
A Taylor has an interest in All-ln Productions who hired venue and Offi￿ space from The
Garage Trust Limited on nomial terns.
Further details of these transath.ons are provided in the financial statements.
Financial rfjvlew
The fin8ncpl slalemenls have been prepared in aceordance wrth current slalutory requirements and
comply with the lemis of the charil8ble Gompany's governing document. There have not been any
material Changes lo accounting policies.
Results for the year
The surplus on unrestrthd funds for the year was £8,727 wrth unrestricted reserves being £117.707
al tha year end.
Restricted funds held on 31 July 2025 decreased to £118.385 leaving total funds earned foFward of
£236,092. Total irbc¢mewas £1,724,366 of which 3￿(2024.. 61¥.1 was restricted. Income from grants
arbd contracts continued lo be crrtical lo the ability of The Garage Trust Limrted to maintain r(s activilEs.
Major SoUr￿S of funding are disclosed in the notes to the financial slaternerbts. A breakdNn of
8xpendiluie for the year is also disclosed in the notes to the financial statement5.
ReseNes pollcy
On 31 J uly 2025, free reserves had increased. The Trustees are continuing to work towards
rninimum reserve of three months operational commitment. with an optimum of Six months within
years. This is reflected in the budget for 2025-26.

THE GARAGE TRUST UMITED
REPORT OF THE TRUSTEES
For the ended 31 July 2025
Plans for the future
The Trustees identified long term strategic Object￿e$ lo support the Executive Director to-
Enhance and expand the qualty of support to vulnerable participants across our program8
Develop activity to support a musically inclusive England
Present and co-produce and lour great, small-scale perfomiances for young audience8
Increase sustainable perforniing arts aclivty across Norfolk, Suffolk and Cambridgeshire
Expand our accredited proviS￿n to include Higher Education course$
Deliver our Caprtal imwovement plan
Funds held at custodlan trustee on behalf of oth8rs
On 31 July 2025. the charity held £Nil (2024.. £1,058} as custodian trustee on behalf of Music
History.
RIS￿ and Uncertalntles
The trustees acknowledge the Charity C¢Jmmi$signgr's requirement for them to undertake a review of
the major risks lo which the Trust is exposed. The Trustees eontinued to review the major risks to
which the Trust is exposed, and to establish systems and actions to mitigate thos9 risks identified in
the risk iegisler where not already covered by the Trust's existing systems and risk management
slralegies.
The principal risks that the Trustees have id8ntffied as high risk are as follows..
Loss or reduction of core fvnding - mi(igation Ma eonlinued focus within the business plan and
Fundraising Strategy.
The charity's dependency on a number of key Indiv￿Ual5- mitigation via 5ucces5ion planning,
ensuring key information is recorded digitally, carrying crtjt regular team meetings and the
performance managemenvappraisal scheme
financial pressures facing charities and the pressures that this is putting on grant giving
organisations from being overwhelmed by ¥plitstions to grants not keeping In line Mth
CoLlinflationary pressures
Coronavirus pandemic. The kjnger-temi SOCi¢FeeonomiG impact of the crisis in the UK may
have an impact on public funding and mitigation work is underway in terms of advanced
business planning and focussed resource development activity to prepare for a potentially more
eompetitive future funding environment.
Trustees. responsibilities statement
The trustees for the purposes of cc*npany are responsibl8 for preparing the Truslee$' Annual
Report and the financial ststemenls in accordance with applicable law arkd Uni18d Kingdom Accounting
Standards (United Kingdom Generally A¢￿pted Accounting Pr￿t￿eTr.
Company law requires the trustees to prepare fin8nclal statements for each financial year, which give
a true and fair vi8w of th& slate of affairs of the charrtoble company and of the Incoming resources and
application of resources, including the income and expenditure, of the charitablo company for that
period. In preparing these financial statements, the trustees are required to..
select suitable aC￿untIng policies and then apply them consistently.,
observe the methods and principles in the Charrt￿S SORP 2015 IFRS 1021.,
make judgements and estimates that are reasonabl8 and prudent..
stsle whether applicabte UK Accounting Standards have been followed, subject to
any material departures disclosed and explained in the financial slalemenls.,
prepare the financial slalements on the going concern basis urbless it is inapproprk?le
to presume that the charitable company will conts'nue in operali)n.

THE GARAGE TRUST LIMITED
REPORT OF THE TRUSTEES
For the period ended 31 July 2025
The trustees are responsible for keeping adequate accounting records Ihal disclose with reasonable
accuracy al any time the financial position of the chartiable ccmpany and enable them lo ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
88feguarding the assets of the charitable company and hen￿ for taking reasonable steps for the
prevèntion and detection of fraud and other irregularities.
ststement as to disclosure ol inforniation to auditor¥
In so far as the trustees a￿ aware,.
there is no relevant audit infomation of which the charitable company's auditor is unaware.. and
the Iruslees have taken all steps that they ought to have taken to make theMse￿eS aware of any
relevant audit information and to establish that the auditor is aware of that infomation.
Audltors
A resolution proposing that Sexty & Co be re-appointed as auditors of the Trust will be put to the Annual
General Meeting.
Appioved by the Board of Trustees on
and sKJned on its khalf by..
Michael Launchbury
Chair of Trustees

THE GARAGE TRUST LIMITED
REPORT OF THE AUDITORS TO THE MEMBERS
Opinlon
We have audited the financial statements of The Garage Trust Limf(ed (the charitable chantyl for the
p&riod ended 31 July 2025 whieh comprise the Statement of FinancKo1 A¢tivities, the Balance Sheet,
C8shflow slalement and the related notes to the financial slatamenls, including a summary of
significant accDunling pol￿Es. The financial reporting framework that has been applied in their
preparaliori is applicable lawand 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 Praclicel.
In our opiniort the finanaal statements=
give a true and fair view of the slate of the charitable company's affairs as al 31 July 2025 and of
its incoming resources and application of resources, including ils income and exFenditure, for the
year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Praclice,. and
hav& been prepared in accordance with the requirements of the CompanEs Act 20C6.
Basis for opinion
We conducted our audit in accordance with Inlem81ional Standards on Auditing IUKI IISAS {UK? aNI
applicable law. Our responsibilities under those standards are further described in the Audi(orfs
responsibiif(ies lor the audit of the financial slatemenls section of our rewrt. We are independent of
the charitable company in oGcordan¢e with the ethical requirements that are relevant to our audit of
the financial statements in th@ UK, including the FRC'S Ethic81 Standard, and we havo fU￿111￿d our
other ethical responsibilities in accordance with these requirements. We believe Ihal the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to going ¢on¢•rn
In auditing the financial statements, we have concluded that the trustees. use of th8 goiro 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 Un￿rtaIntieS relating to
events or Conditions that, individually or co1￿ctive1y. may cast significant doubt on the charitable
company's abilsty lo continue as a going concem foi a period of al least twelve months from when the
financial statèments are aulhorised for issue.
Our responsibilities and the responsibilities ofthe trustees wrth respect lo going ¢onwn are described
in the relevant sections of this report.
Othèr infom)ation
The trustees are responsible forlhe other information. The other infomtstion tomprisesthe inform8tv)n
included in the trustees, annual report, oth8r than the financial $18lemenls and our audrtor's report
thereon. OUT opinion on the financial slalemenls does not cover the olh8r information and, except to
the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thefeon.

THE GARAGE TRUST UMITED
REPORT OF THE AUDITORS TO THE
hlEMBERS OF THE GARAGE TRUST LIMITED IcoMfiNUEDI
In connection wilh our audit of th8 financial stal8m8nls, our responsibilty is to read the other
information and, in doing so, consider whether the other informatton is materialty incorbsistent with the
financial $18lements, or our knowledge obtsined in the audit or otherwise appears to be materially
mi8slaled. If we identify such material inconsistencies or apparent material misstatements, we are
required lo determine whether there is a material misstatement in the financial statements or a material
misstalemenl of the other Info￿nation. If, based on the work we have perfomied, we conelLKJe that
Ih8r8 is a material misstal8m@nt of this other infom1at￿n, we are required to Tepcfft that fact.
We have nothing to report in this regard.
Opinions on other matters prescrlbed by the Compan19s Act 2006
In our opinion, based on the worf( undertaken in the course of the audil..
the infomation given in the Trustees, Annual Report {incorporating the directors. reportl for the
financial year for which the linancial statements are prepared is consistent ¥vith the financial
slalem6nts', arKI
the directors, report has been prepared in ￿OrdanCe wtth applicable legal requirements.
Matters on which we are required to report by exception
In the light of our kno￿edge and underslanding of th8 charitabte Gownpany and its environment
obtained in the course of the audit, we have ￿)t 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 Teport lo you if, in our opinion".
adequate accounting records have not been kept, or returns adequat8 for our audrt have not
bèen re￿iVed from branches not visited by us,. or
the financial slalemenls are not in agreement with th8 accounting records and T8lums,' or
certain disclosur8s of directors. r8muneralion specified by law are not made.,
we have not received all the infomiatitin and explanations we require for our audrt
Responslbi1Sties of trustees
As explained morefully in the trustees, responsibilities statemenl sel out on pages 7 and 8, thetrustees
{who are also the directors of the charitable company forthg Pufposes of company lawl are responsib
for the preparation of the financial ststements and for being satisfied that they give a true and fair Mew,
and for such internal control as the trustees detemiine is necessary lo enable the preparatitin of
financial statement5 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 lo going
con￿￿ and using the going ¢on¢ern ba$1$ of a￿untIng unless the trustees either intend lo INuKlate
the Chantable company or to cease operations, ￿ have no realistic altern8tNe bul to do so.
10

THE GARAGETRUST UMITED
REPORT OF THE AUDITORS TO THE
MEMBERS OF THE GARAGE TRUST LIMITED (CONTINUED}
Auditorfs responsibilittes for the audit ol the financial statements
Our objectives are to obtain reasonable assurants about whether the financial statements as a whole
are free from material misslatemenl, whether due lo fraud or error, and lo issue an auditor's report that
includes our opinion. Reasonable assuranc& is a high level of assurance bul is not a guarantee that
an audit conducted in accordance with ISAS IUKI will always deteGt a materral mi551alernenl when it
exists Misstatements can arise from fraud or error and are considered material rf, individually or in the
aggregate, they could reasonably be expected to influence the econom￿ decisions of users taken on
th8 basis of these financral stalemenls.
IrregulaTrties, including fraud, are instances of non-compliance with laws and regtJlali)ns. We design
procedure in line with our Tesponsibililies, outlined above lo detect material misstslements in respect
of irregvlanties, including fraud. The extent to which our procedures arè Capable of dele¢ling
irregularities, including fraud is detailed below..
Enquiry of management and those charged ￿th governance.,
Enquire of enlrty staff complianc8 fundions lo identify any instances of non-complianee with
laws and regulations.,
Reviewing financial Statement disclosures and testing to supporting documentation to as8ess
mpliance with applicable laws and regulations.,
Performing audit work ovar Ihg risk of management override of eonlrols. including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of
significant transaction5 Outside the normal course of business and reviewtyig accounting
eslimales for bias.
A further description of our responsibilllles for the audit of the financi81 statements is bcated on the
Financial Reporting Council's website www.frc or uklaudilorsres
es. The description fomis part
of our Report of the Auditors.
Use of our report
This report is made SO￿ty to the Gharrtable company's members, as a body, in accordance wlth
Chaptèr 3 of Part 16 of the Companies Act 2006. Our audr( work has been undertaken so that we might
state tothe charitable company's member those matters we are requiredto stale to them in an a￿d￿Or'S
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's members as a body. for out audit work.
for this report, or for the opinions we have fomied.
l A Barlow FCCA
(Senior Staluiory Audilorl
For and on behalf of Sexty & Co
Chartered Certified Accountants & Statutory Auditor
124 Thorpe Road
NOn￿lch
NR1 1RS
11

THE GARAGE TRUST UMITED
STATEmETr￿ OF FINANCIAL ACTIVITIES
{Including Income and Expenditure Account)
For the perlod ended 31 July 2025
Unrestrlcted
General
Total
2025
Total
2024
Note
Restricted
Income from:
Donatiorbs
Chaittable acliviiies
Bank inteTÈsI
Investrnent inwme
Other
Total income
44,156
905,973
858
9,484
139010
1.099.481
3.821
621.064
47,977
1,527.037
858
9,484
139010
1.724,366
35,472
1,513.962
1,068
13,418
21,347
1.586.267
624.885
Expenditurg on:
Charitable acb"vrties
Other
Total exponditure
1.077,971
12,783
1,090.754
706,325
1,784,296
12,783
1.797.079
1,533.664
12,061
,546.725
706,325
Net income I gxpgnditure
8.727
181.440) 172,7131
39,542
Transfers between funds
Net movements ot funds
8.727
181.440) 172,7131
39,542
ReconcS1iation of funds-
Totsl funds brought forward
108,980
199,825
308,805
269.263
Total funds carrled for4vard
13
117,707
118385
308,805
The Statement ol Financial A¢tDiilies includes all gains and losses recognisgd in the year All inccffling
resources and resources expended derive from continuing activities.
The notes fomi part of these accounts.
12

THE GARAGE TRUST LIMITED
(REGISTERED NUMBER: 045102401
BALANCE SHEET
As at 31 July 2025
Note
2025
2024
Fixed Assets
Tangible assets
Irbvestments
43,542
80,067
91,300
124.304
Currgnt Assets
Debtors
Cash at bank and in hand
10
375,712
115.019
272 480
387,499
442,184
CredltOf5
Amount5 falling duo wilhii one year
11
1297,392) 1202.998}
Net current asgets
144,792
184.501
Not assgts
236 092
308 805
Charity funds
Unrestricted
Designated
R8slricl8d
13
13
13
91,873
25,834
118,385
87,509
21,471
199,e25
Total charity funds
13
236,092
308,805
These financial statements have been prepared in accordance with the spectal provisions of Part 15
of the Companies Act 20C6 relating to small charitable companies and wi(h the FRS 102 SORP.
The financial statements were approved by the Board of Trustees on
were signed on ils behalf by..
and
aqJL-
Michael L8unGhbury
Chair of TTUStees
The notes form part of these accoun15
13

THE GARAGE TRUST LIMITED
STATEMENf OF CASH FLOWS
As at 31 July 2025
2025
2024
Cash flow from operating activltles
Nel income I lexpendilurel for year
Depreciation of tangibb fixed assets
Ilncrease) I decrease in debtors
Increase l {decTeasel in creditors
172,7131
36,525
1260.6931
94,394
39,542
27.392
111,9031
30.713
Net cash flow from operating activities
1202.4871
85,744
Cash flow from Investlng actlvities
Payments to acquire tangible fixed assets
Payments to acquire investments
180.4941
11,3081
181.8021
13.5211
Net cash Ilow from Investing activitle8
13.5211
Net increase I (decrease) in cash and cash
equivalents
1206,0081
3.942
Cash and cash equivalents at 1 Aprll
272,480
268.538
Cash and ￿$h equivalents at 31 July 131 March
86,472
272.480
Cash and cash equivalents consist of:
Cash at bank and in haTr
66.472
272,480
Cash and cash oquivalents at 31 July 131 March
66,472
272,480
14

THE GARAGE TRUST LIMITED
NOTES TO THE F1NAh￿1AL STATEMENTS
For the perlod ended 31 July 2025
1. ACCOUNTING POUCIES
asls of accounting
The Garage Trust Liml(ed is a charitable company limited by guarantee registere(J in England. In
the event of the charty being wound up. the liabilty in respect d the guarantee is limited to £1 per
member of the eharity. The address of the registered office is given in the charity infomiation on
page 1 of these financial statements.
The charity constitutes a public benefrt entsty as defined by FRS 102. The financial statements
have been prepa￿d in accordance wrth Accounting and Reportin9 by Charities." Statement of
Recommended Practice applicable to char((ies p￿paring their 8cGounts in accordance with the
Finaneial Reporting Standard applicab￿ in the UK and Republie of Ireland issued in October 2019.
the FinanGwl Reporting Standard applicable in the United Kingdom and Republic of Irelan¢J IFRS
102), th8 Charities Act 2011, the Compani8s Act 2006 and UK Generally Acc8pl8d Practice.
The ffinancial statements are prepared on a £￿)ing C£Jrtcern basis under the historical cost
convention. The financial statements ate presented in sterling which is the fundional currency of
Ihg charty and rounded lo the nearest £.
The signrficant accounting policies applied in the preparat￿￿ of these finaneial statements are set
out below. These policies have been consistently applied to all yèars presented unless otherwise
Ststed.
Funds
Unrestrictedfunds are available for use atthe disereltin ofthetrustees in furtherants of the general
objective$ of the charity and whi¢h have not been designated for other ptjrposes.
Reslrthd funds are funds whKh are to be used in accordance wlh spec[r￿ fftstrictions imposed
by donors or which have been raised by the charity for Part￿Ular purpos85. The aim and use of
each restricted fund is set oui in the notes to the financial statements.
InGome recognition
All incoming resources are included in the Slalemenl of FinanGial A¢livilies ISOFAI when the Gharity
legally enli(led lo the income after any performance conditions have been mel, the amount can
be measured reliably. and it is probabk that the income will be Teceived.
For donations arwj grants lo be recc9rils￿ the charty will have been nolrfied of the amounts and
the settlement dale. If there are conditions attached lo the donalion or grant and this requires a
vel of performance before enlitlemenl can be obtained, then inGome is deferied until those
eondilions are fully met or the fU￿lIment of thos8 condf(ions is wthin the control of the charty and
il B probable that they will be fvifilled.
Expgndlture recognltlon
All expendf(ure is accounted for on an 0￿rual$ basis and has been classified under headings thai
aggregate all costs related to the category. Expenditure is recogni5ed wheTe there is a legal or
constrltctive obligation to make payments lo third parties, rt 1$ probable that the settlement will be
required. and the amount of the obligation can be measured reliably. I￿ecoVerable VAT is Charged
as an expense against the activrty for which expenditure arose.
15

THE GARAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the perlod ended 31 July 2025
ACCOUNTING POLICIES ICONTINUEDI
Expendlture r8cognftlon {continugdl
Resources expended are allocated lo particular activilies where the cost relates directly to that
aclimty. However, the costs of the overall co-ordination each activity, comprising the Sal￿ and on
costs of administrative and finance support and office overheads are charged to that activity on the
basis of staff hours used.
Volunteers
The value of seNices provided by volunteers has not been induded. this amounted to 459 hours
during the year12024.' 238).
Flxed assets and depreclatlon
Assets that cost over £5,000 are ¢apftalised and depreciated al the following annual rates to write
off their over their estimated useful lives as follows..
Computer Equlpment
Fixtures & Frttings
Plant and Machinery
Freehold property
3 years straight Ilne basis
3 years slraighl line basis
3 and 5 years straight line basis
50 years straight line basis
Depreciation is charged in full in the year of acquisition and none in the year of disposal.
Inve8tmonts
Investments are recognised initially al fair value which is nomally the transartion pri￿ excluding
transaction costs. Subsequently, they are measured al lair value through th8 SOFA rf the shares
are publicly traded or their fair value can otherwise be measured reliabty. Other investments are
measured at ¢ost less impairment.
Lgases
Rentals payable and receivable under operating leases are charged to the SOFA on a Stra￿hl-lIne
basis over the period of the lease.
Pènslon costs
The charity operates a defined eonlribution pLgn for the bgnefrt of its employees. Contributions are
expensed as th8y become payable.
Going concern
The financial statements have been p￿pared on a going ¢on¢ern basis. The Iruslees have
considered the level of funds held and the expeded level of income and expenditure for 12 months
from authorising these financial statements. The budgeted income and ex￿ndit￿re is sufficient
with the level of reserves for the charty lo be able to continue a5 a going concem.
16

THE GARAGE TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 July 2025
2. INCOME FROM DONATIONS
Unrestri¢tgd R￿trICted
Total
2025
Totsl
2024
Paul 835sham Trust
The Chivers Trust
Norman FoundatK)n
Strangward Trust
The David Family
All In Productions
John Jarrold Trust
Other
3,000
7,000
3,000
7.000
4.000
2,000
3,000
2,000
16,000
1,000
7,472
30.000
30,000
4,156
3,821
7.977
Total income from donations
44,156
3,821
47,977
35,472
17

THE GARAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 July 2025
3. INCOME FROM CHARITABLE ACTIVITIES
Unrestrlcted Restrlcted
Total
2025
Total
2024
Arts Councll of England
Architectural Heritage Fund
Anguish's Educational Foundation
Norwich Cty Council
Norfolk County Council
Norfolk Communty Foundalion
Alan Boswell Group Charitable Trust
Children In Need
National Theatre
Youth Music
Paul Hamlyn
Geofftey Watling Foundation
The Foyle Foundation
National Lottery Communlty Fund
Norwich Freemen
St James, Plaea
Henry Smith Charity
Norwich Charitable Trusts
Gajfield Weston
Simon Gibson Trust
Active Norfolk
Aldemian John Nonman
The Arts SocEty
Red House
Nichol Young Foundation
Youth Investment Fund
Talisman Charitable Trust
NO￿lCh Consolidated Chari(ies
Town Close
Rental of facilities
Other operational incom including coui8e8
165,389
10,000
21.580
580
5,708
76,2D5
10.000
165,389
10,000
21,580
21,414
144,128
76,205
10.000
42.874
20.000
8.200
22,455
23,015
20,834
138.420
39,964
8,650
50,040
79,200
10,000
25,000
198,071
11,400
11,400
67,241
67,241
12.920
93,329
17,000
10,000
75,000
106,249
17,000
10,000
75,000
10.000
27,000
9,711
10.(K)O
10,000
10,454
3,000
2,000
10.000
10,CK)O
10,454
3,000
2.000
1.000
2.500
42,045
375
11,500
1,000
2,500
42,045
375
415.847
8,000
10.000
20,000
55,087
452,788
11,500
86.866
588,579
86,866
611691
23,112
Total income from charitable activitie$
905.973
621.064
1,527.037
1.513,962
18

THE GARAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For thg perit)d gndgd 31 July 2025
TOTAL EXpEND￿uRE
Charitable
Activities
Governance
Costs
Total
2025
Total
2024
Employment
Freelance
Artists
pUbl￿1ty
Legal and professional
Venue hire and premises costs
Materials
Equipment
Catering
Bank charge$
Invostmenl Fees
Office and other cc6ts
Depreciation
lThecoverable amount8 and
provision
Auditors Remune￿Il0n."
Audrt fee
Accountancy and payroll Se￿￿S
910,592
75.799
208,817
64,536
26,158
240,459
41,123
31,894
27,776
2,652
309
40,990
36,525
910,592
77,399
208.617
64.536
26,158
240,459
41,123
31.894
27.776
2.652
309
40,990
36.525
739,571
108,825
148,396
71,682
2.505
296,409
59,477
22.679
16,214
1,819
368
35,029
27.392
1,6QO
76.866
76,866
4,898
4,705
6.478
4,705
6,478
4,686
5,775
Total expendlture
1,784,296
12,783
1.797.079 1.545,725
EMPLOYMENT COSTS AND NUMBERS
2025
2024
Salaries
Employer's N81ional Insurance
Pension costs
817,379
54,752
29,853
664,329
35,687
25,441
901,984
8,608
725.457
14,114
Recruitment and training cost8
910.692
739.571
No empkjyee received emoluments of more than £60,000 in either year.
The average nuwnber of staff employed during the year, ¢akulated on the basis of full-time
equivalents was 2012024= 241
19

THE GARAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 July 2025
EMPLOYMENT COSTS AND NUMBERS {continued
Key management personnel include all persons that have authority a nd respongibilily for
pL8nning, directing, and controlling activiti&s of the charty. The total cornpensation paid to key
management personnel for services provided lo the charity over the extended period of account
inGluded £76.128 (2024.. £55,016) salary costs and £3,045 {2024: £2,201) pension costs.
TRUSTEE REMUNERATION AND RELATED PARTY TRANSAcfioNS
The trustee$ neither recelved nor waived any remuneration or expenses during the current or
previous year.
No Trustee or other person related to the Trust had any personal interest in any contract or
transaction entered into by the Trust during the yeai (2024.. Nil).
TAXATION
The charity is an exempt charity within the meanin9 of schedule 3 of the Charitses Act 2011 and
Is considered lo pass the lesls sot oul in Paragraph 1 Schedule 6 Finance Act 2010 and therefore
it meets the definition of a charitable company for UK corporation lax purposes.
FIXED ASSETS
Freehold
Plant &
Computer
Property Machlnery Equipment
Flxiures &
Fittings
Totals
Cost
At 1 A￿11 2024
Addrtions
Disposals
At 31 Juty 2025
28.089
181,936
23.719
161.064
394.808
181
36
Deprgclatlon
Al 1 April 2024
Charge for year
Eliminated on disposal
1,686
749
181,936
23,719
107,400
35,776
314.741
36,525
At 31 July 2025
351266
N9t book value
At 1 April 2024
26,403
53,664
80,067
At 31 July 2025
25.654
17,888
43,542
The freehold property which was purchased on 29 Septem￿￿ 2021 has been induded at a cosi of
£28,089 which is also considered to èquate lo fair value by the Iruslees.
20

THE GARAGE TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
For th# pgriod gndod 31 Juty 2025
9. FIXED ASSET INVESTMENTS
2025
2024
VALUATION
At 1 April
Addi(ions
Dispo8a18
Revaluations
44,237
3.521
42,929
1,308
At 31 July 131 March
Cost or valualDn at 31 JLsty 2025 131 March 2024 is represented by..
ValuatK)n
Cost in 2019
13.258
9,737
10. DEBTORS
2025
2024
Trade debtors
Other debtors
1S7,310
218.4D2
20,662
84,357
375,712
115.019
21

THE GARAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the pèriod ended 31 July 2025
11. CREDITORS
2025
2024
Trade credi(OTS
Taxation and Social Security
Defeffed income
Other creditors
52,797
10,271
192,100
42.224
48,975
15,674
90,802
47.547
297.392
202,998
12. DEFERRED INCOME
Deferred income wmprises of the following amounts which have been designated as relating lo
fvture periods by the grant providers..
Unrestricted Restricted
Totsl
Balance as at 1 April 2024
90.802
90,802
Amounts released in the year..
National Theatre
Deferred Course Fees & Projeci Income
11,0001
11,0001
89.802
190,8021
190.8021
Amounts deferred in the year:
Norfolk County Council
Venue Hire
Deferred Cou15e Fees & Project Income
6,278
7,515
178,307
6,278
7.515
178.307
Balance as al 31 Juty 2025
192,100
192.100
These arrrt)unls are included in Creditors.. Deferred In¢))me.
22

THE GARAGE TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
For the perlod ended 31 July 2026
13. FUNDS RECONCILIATION
At1
April
2024
At31
Juty
2025
Income
Expendlture Transfgrs
Restrlcted funds
Bursary Scheme
CPD
ICI Prggramme (NOrw￿h)
ICI Programme (King'$ Lynnl
Capital Appeal
Youth Music
Chair's Bursary Fund
Garage Inclusion
Restricted Edu. Funding
Workshop Inclusion
Paul Namlyn
Co-Design King's Lynn
Co-Design Norwich
Marney s Fund
Garfield Weston
Norfolk Communty Foundation
Arts Council Supported
Dan.ee
Individual Giving
Arts Council England
Anguish's Education
Foundation
NorwiGh Freemen
5.772
3,033
14,8051
14,7681
{31,8701
17,7551
1143,9531
{58.9081
14.000}
5,000
17,000
3,933
232
14,870
3.742
52,045
67,241
375
28,859
98,506
11,793)
10,042
12,012
2,105
6,598
{6,540}
26,386
17,389)
{2.105}
22,783
3.000
25.664
9,000
9,790
120,0001 130.0001
163,3411
15,0751
{70,5691 117.5741
161,2231
17.3371
(1.3701
{2,6641 137.0001
36,803
{33,482)
14,187
93,328
3.252
10.824
136,970}
198,82n
115,590)
125.7661
13,975
2,027
11.002
11,476
15,353
5,C60
10,574
20,000
12,289
{s.0001
4,500
6,568
24.375
75.000
76,205
81,575
44,185
1,370
39,664
13,000
{13,000)
17.000
{12,834}
14,166)
Total restrietsd funds
199.825
624885
{706.325)
118,385
Unrestricted funqls
Free reserves
Designated funds
87,509
21,471
1,099,481 (1,090.754}
14.3631
4,363
91,873
25.834
Total unrestrleted funds
108,980
1,099,481 {1,090.754)
117,707
Total funds
308,805
1,724.366 11,797.0791
238.092
23

THE GARAGETRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 July 2025
Funds description
Restrlcted funds
Bursary Scheme
cpo
ICI Programme
Purpose
Grants to support di8advant&3ed people to access tourses
Grants lo support training and development of staff
Grant to support introduction to creative industries programme
delivered in house
Grant for capital developments and improvements
Grant lo develop music making activities for young people
To fund future bursaries and the fLtlure opèration of The Garage
Programme lo support young people from challenging
circumstances access music classos
Grant to supp(¥t access afrangemenl for leamers on edutstion
programmes
Programme to support young Feople from challenging
circumstances access MUS￿ cla$5es
Communrty codosign, intervention programme$. agent f
change and evaluation
81 least Ihiee communty C￿les19n prO1￿19- part funded by PHF
al least three communty codesign projects- part funded by PHF
Restricted fundraising for bursaries gwen out in the name of
d&c8ased former colleague Marney Meakin
Funding for inclusion programme
Restricted project activity funded by Norfolk Ccmmunty
Foundation
Performance Programming by and with children and Young
people
Dan_ce
International participation and professional perfomiances
Individual Giwng
Funds to support the charity given by individuals
Arts Council England
Various restricted grants given by Arts Council England
Anguish's Educational Foundation Restricted grant given to support charitable work
NO￿lCh Freemen
Restricted grant given to support charitable work
Capital Appeal
Youth Music
Chair's Bursary Fund
Garage Inclusion
Restricted Edu Funding
Workshop Inclusion
Paul HaM￿n
Co-Deslgn King's Lynn
Co-Design
Marney's Fund
Garfield Weston
Norft)Ik Community Foundation
Arts Council Supported
Designated funds
Project Inveslmenl Fund
A fund for the accumulation of amounts raised to ￿ invested for
the medlum and long tem sustainability of the organisati¢
14. ANALYSIS OF ASSETS BEfwEEN FUNDS
Unrestrlcted Rgstrlct8d
Total
Fixed assets
Cutrenl assets
Current Liabiliti8S
73,412
292,935
248,640
17,888
149,249
48,752
91,300
442,184
297,392
Tt)tal
117707
118
85
24

THE GARAGE TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 July 2025
15. RELATED PARTY TRANSACTIONS
Norfolk County Council
Norfolk County Council owned the freehold of the premises occupied by The Garage Trust Limited
unlil 29tn September 2021. The charity then Pu￿hased the freehold from the Norfolk County
Council for £28,719.
During the year fvnding was receNed. as follows..
Norfolk County Council CuNural Services £14.556 {2024 £13,686). The county council funded
£129,572 for places on participation and alternative provision courses.
All In Productions
A Taylor has an interest in All-ln Productions who hired venue and office space from The Garage
Trust Limited on normal terms. During the p e r i o d All In Productions donated £30,00012024'.
£16,000) lo The Gar8ge Tnjst Limited in relation to co commission h05ted al The Garage, of which
£Nil12024- £14,000) was included in the financial slalemenls as a debtor at 31 July 2025. During
the year The Garag8 frust Limited charged All In Producb"ons £5,040 12024: £2,520) In relation
lo venue hire and associated serwces, of wh￿h £3,02412024.. £Nill was included in the financial
statements as a debtor at 31 Juty 2025.
16. PENSION COMMITMENTS
The company operates a defined contribution pension scheme and contributions are charged in
the Ststemenl of Financial AGtivities as they accrue. The charge for the period was £29,853 {year
ending 2024 £25,441).
25