Cl4rlty reglstratlon nurnbw265667 Companyrnglstr•lloThnumberO1095244{England andW•les) PUMP HOUSE THEATRE AND ARTS TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2022 1111 A8IG3Tr160 0811212022 COMPANIES FIOUSE A13
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PUMP HOUSE THEATRE AND ARTS TRUST LIMITED LEGALAND ADMINISTRATIVE INFORMAnoN Trusts•$ L D Farman J Salie AM D Murphy J l N Brameld R J Pi¢JgÈon SA Griffin A Wlliams D Bhudia IAppoinled6 Derember20211 (Appointed 11 July 20221 Secretary S A Griffin Charlty number Company number 01095244 R•gi$tw•d ad<tr•ss L81 Board Road Lry*er High Street Wafford Hertfordshire United 'n9¢tn IhD17 2JP Independ•nt Examlner SterfrngA¢counlrngSdutionsLtd SAS House. Friarswood ChippetheldRoad Kings Langley Hertfordshire V¥D4 WB
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED CONTENTS Trustees rewrt Statemgnt oftrustee$ pS[.15 Independenl examiners rewi Statemert tsffinancial athvites Statement offinancial Notes to thefinar1 stsiements 10-16
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED TRUSTEES REPORT REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The trustees present thetr annual re1 aTh1 fThn(id statements for the year erKled 31 August 2022. The finanfial slatements have been pfepare(l in aCCordare wlh Its accouming policyes Set out in note 1 to the nanrial statements and comply wth the Charis trust deed. the Charities Acl 2011 ant1 "A¢cOUntir and Reporb"ng by Charities.. Statement of RecOmmere pra1 appIe to chanb.es preparing thetrr accDunlS ift acurdance with the Finanrial ReKhyb'ng Standard apFAi¢2ble in the UK and. Republic of Iland IFRS 1021" leffedive 1 January2019). ObJectS¥•s and actlvltles Chaiitable Aims The eharitywa5 aAlshed to operale. mamtain improve f•(ilrtses to tenefft Ihe pubjic through partiupaloon in all fomis of 8ccessible artistlc Trvity- The Purnp House Thèaire and Arls Centlè is ihe main asset used lo achi8 these aims. alongside a dedKated team of staff and vdurrteers. The charty has beCne Warford's hub en¢ouraging emergingtalentand tIlding a stroNJ tthnmunity artislicryitture. The trustee5 hav¢ reviewed aTrJ complied wth th&"r duty as set out in sethon 4 of the Charitres A¢1 2006 in regard to public benÈfit. The tnjslees have used the number and type of a"StiC actNities in a year as well as the number of participants (acli¥e part)'ryP8nts and audience) asan indicalion of the public benefit adweved. CharAlèble AcfMb8s The princ4pal activrtres of Ihe T$1 are aimed at SUP[ing the Wris1O of facilities for commLFnty groups in the field50fart. dance. musicand drama. Toathievèthi5. Ihe Theatre arKIArt5Trust". Pro[1e enhan¢ed facalities for amateur arNJ professi¢)n artists to Use an(1 develop artistic eveftts. Groups in the area are wpwted as part of our hub through worknng partnerships and flexibl• conditi"ons'. Mainlaining and administering Ihe centre to supportregular ath"slicuser9roups'. Impron9 and developing the fllItieS through consultation t*ith the user groups to irKrease access, ensurecontsnuing safetyand enh8rKeartF$t¢Ontent.' Offers opportunities for a broad range of the c(rfnmuiMty toget invclved in arts xtivityexpjoring their own ¢atIve powers", Encourages in¥olv&ment of Yfig people in the art5 to hÈlp promote a cutturÈ in which drfterènt age ranges play a complementary part; Celebrates the diversity of cultures in sooety thrcwgh prom¢Sing the acli4Tities of the user groups and operth.ng an open access pc4iy. Fee levels for users of the centre are a 18vel to o)ver the ¢ost of c¢)eratirg and maintalning the ¢entre. Evidence shows that these levels conth"nuèio be goc¥1 ¥ue and do not act as a barrierto arlists and user 9roups using the Cerfre, howeveithe balance tthencosts and brwme needsto beconstantly monitored. There is considerable evidence to supwrt the Twstees that the Trust enjoys a good relalK)n5hip wrth its dients. users and the wider rjynmunty.
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED TRUSTEES REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Achleveffl•nts and perforni•n¢o The new norma is to expectconstant Change in the wÈdef worfd and its effe(l on al. Through the dedication and skill of our staff, board and volunteers with have managed lo keep the Trust in a stable posilion and find a way to continue develo"ng our offerir¥J. We also appoiwrted Iwo hryh wofile patrorts (Dan Dark and Chris Luffj who will help bring focus and connecbonsto our fvtur¢ plans. We celebrated our 50th anrmversary of the Trust whith indJe a special event whwe we could thank and acknowledge the signlficanl number of peotAe over the years who have enalled the Pump House reach Ihis imwesvÈ annsversary. Thanks to the efforts of a coutye of founders and Olher volunteers we have published a book of our hist. We also launched our Raise the Raofcampaign to rep1xet Thèatre roof and provide signrfjcant improvement to our facilities and aCceStI"l. Due to dedicated of a teerS we have al•0Y devekyed architectural plansand securedplannin9permission. We have continued to make pro9re¥s in cwr io develcy aThJ the Pump House and to keep it relevant and connected to the needs of the local communty and ts users. We have sought and gained some additional funt1in9. This has (rY len F)ssIe wth the extraordinary suppN)rt of a limiled number of dedicated staff and vc4unteers. Suppwi from Waiford Borough cou1 and othef partners has been critical during Ihis period. We have been in close communication wlh our user groups and hirers and supp(>rted financially and with a(fvice to helpthem continue their in adivitiesthroughvanous¢hallen9es. During this yew we have continued our wowamme MaiTrten and improvements. W• contin with a part lime delopment nNanager wlx) has cbnved to aChIe signifirant progress on funding b%ls. audience development an$. tsjild very good Ibnks with Wafford Borough Counril. Wattord Palacè Theatre, local business groups and established strong commurycalions wth many othèr partners. We have also exploret1 markethng resourorwJ opbons to increase awaren gf our acts"vities and more work is needed to make best LrsethYlinMted bWs ts etth populalitin. We continued to be part of the Wafford CThJnd's Volunlary Se¢or commiss1ng Framework which also provides some oing fvThJs for our acti¥itie5. We have continued to xIern1se our strlth and go¥emart•. indulling weknming a new board member who bring an extensive, relevant neiOnS armlexperierte. We have conkn.nued to tske a leading role In Watl(d's cuttwal leaders. group and delivèry of Cultural Slrategy. We gave strong support to the watfOrogeIher initialive which has helped pull the local artistic ommunily togethw to wovide a(vilies and entertainment durirvj these difficutt times. We organised th communily section of Watford's Centenary ¢Aebrations in CassiobLWy Park which induded 6 hours of entertainment with 15 community organisalnS ¢ontribuliry. 6 years 890 we created. lead and ran the annual Watford Frinye festkva as part of remit as a hub for emeT9ing talent to 9ive the thance for local artists all ty5 lo shrW thwr work and for the local community to have access to a Ixoad range of quality entertainment from around the UK. This festival creates an accessible atIOl for local taknt and bn.ngs many benefits to the Pump House and Watford. Desprte the lingering chall$ng¢s of Covid we sts'S1 manayed to run a SuSSful festival across mUltie Watlord venues. This lèstival shows off thè great. sOrTlmeS overlooked talent in Watlotd arHJ thanks to the dedication of Ihe Pump Housevolunleers and supwrtfrtyn ourpartners is a gffjwir¥Jwiislicfestr4al. We had a full prLYJramme of events Iruding plays, mu¢a15. drama festNak. ¢hiklren'5 theatre, dance, comety, film, folk. jazz, dasstcal MUSK, ¢oen-mic musi¢ dub, kJ¢al band ri9hts and art exhibitions. The quality of all events continues to be hoh and Ihe repul81ion of centre is bulding through inueased numbers of new people coming through Ihe door drawn in ty Ihe new ad]vities. Several fvnd raising aL#Nrt*s have also helped support the Pump House as wdl as strerWeThng itSlX)mmunity ¢onnecaitin.
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED TRUSTEES REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Our employees {all part time) ha¥e conlinkd to perfwm well in their r(4e5 and are a siyrMfi¢ant assèt in th• smooth running ofthe ontre. We have developed our Volunteering programme and will conlinuè to do more work in this area. Our vdunteers are v¢tal to our succe55 and are the warmth at the core ofthe Pump H¢)use farTMty. The bar volunleers especially are keyto the keeng the Puffp H($¢ open ¥nd abktocoth.me pthn9 a commuThty¥erwe for all. IlIVerIng PublK Benefil Put4ic benefit ha5 been realised this year by the ¢aiity conlj'nuing to actseve its slated aims of opwin9 the Pump House Theatre and Arts centre as a fao.lty fot communhty artislbc aclivity. The benefit has been deffK)nstrated over t last yearth[Jgh the Idl•ng indicators: More Ihan 12.(MJO Pwiicypants thr(h the th)oror via online channels in all activilies {8dive partiupants andaudIen) Over 20 thèatrical Ix0dLIftS and workshops lin pwson arKI r)nlinel by rnany different arttiC groups. These groups indude some that are f(#)Jsed ¢M cJMldren and pers5 disabilrties Weekly'open mic.. folk andjazz musi4 publicaccess grtyjps Weekly ClcJ Morris dar groups. tcthdancedassesand 01danCetmlies W¢PY open acce$s visual art events Drama sd)od aclmtsès Disabilityand specialistartiwps Watford Frirye Wavord centenary(teIyati( inCassioburyPk Hub events1ndjingccthedY. ¢uttur4 ev16. LGeTQ+ ¢venL wthshops more Pl8n$ forfulure periotts We have a an of how to coniTrnL fifi•TriJly and practi¢alty in ry)ntinuing diffiryjt arcMStanceS ant1 will conlinue to constanUy re¥iew and revise It#s plan lo adapt to in¢vrl•bl¢ ¢harwJes. We will conlinue to build on our l"onshIP vrith Watlord Borough Counol, Watford Palace Theatfe. local business organisations and other partners to ifreaSe our infiLrence and ddivery of art to the loc communty. We will conlinue to bulk1 and develop WatloTd FriThJe hub aLINitres. We will conlinL to work with Watforrl 8oroU9h Counril to investTrgatÈ OPPOrtunitie$ to add tso"lrties to our building through partnerships and delOpment. INe are f(n9 on raising fur¥15 for our maiN theatre roof replacement project in Ihe next perrcJ. InveStnI The Trustees have the power to invest the ofthe Company rnt imftwotety fthe furtherance of its objKis in or UP such investments, secunb.es or propety as may be thought fit. subject nevertheless to such conditions lif any) and as such C(sents Irf any) as may for the lime be imFosed or required by law. Funds surplusto immediate wuirements areojfrently held oninterest-bearing bank deposi15.
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED TRUSTEES REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Financ•al e The trusl is Primarily sew-fijnding wth inc4)me coming from five main areas. The contributTrons madÈtothe centre from thè fesident user groups. the rent and hirefees cl• otheruser5. various donA140ns. the surplus from the bars and. Ihis yearfortheffirsttsmè. giants from various statutory tr)die5. This year we have reviewed and reslructured rents and contritxth.ons to ensure the Tfust can balarKe the accounts. This has been a sensitive process as ea¢h of the groLtps has their ¢Jwn challenges and pres$ure3. HtNever thi3 process has been successful thmugh the gocJ workin9 reIats"on5p betsveen the Trust and the groups. 8n¢J we wojld like to thank t1 for their Contirn sUp[L The trust continues to be in a able financially. Hmerltwe is rnuch th needs to be done to pf074ide additional facilities 1ft the cents¥ aThJ maintain and imwo¥e those that alrY exist. Proyress on thèse desirable acvrt¢es is cash linlted. Rgseryes PoliGy Atthe end oflhe finan¢i•l year $trell funds were £19.359 and LeStnCted fvnds £167.098. The Trustees will continue theirendeav(xs to lyjild up unrestsicted fvnds. Ourpolicy is to fflaintwn working cash reservès to enable day lo day Operat and rneet Short term cash fflow fluduations while accumulab.rg funds to rry out the larger developments to the cenlre. Followin9 the AGNA In Dtr£mbET 2020 we agreed to in¢¥e8se OUT minimLbm cash rgswveto£30.1)JO to coverany uneypeLted isSueswrtht intemJtA"IrvJthe 0ration oflhe centre. Charity reseples at 31 Au9USt 2022 weTr av•latAe as frAl¢y•&%'. Restricted to donor rinated purposes Unrestricted funds Tie(l up in tsngible fixed assets A¥aiLable to meet operational reqLMThnents £19.3S9 £167.098 £9,855 £176.602 StrUcre. govemanct and rnoMgement The chty is governed by rts mernc¥uM Arfides ofAssLxth dated 16 JaNary 1973. as amended by Special resolutionsdated 5 June2017. Anyone aged 18 years ¢y0verY berAyfte 8 memberofthe Company. through election by ex¢siing membets at general meeb.ng of ¢thnpany. prlS1On is iluded in the Ariic4es of Ass(x>abon for Watford Borough Counal to appoint two of its mernbers as Company memters. The CourKil has not exerosed this right for severayears. rntstees The tw$lees who we also th"reclors for the puw of company law. a1 seryed during the year and up to the date ofA#ture of the financaal s&*menls ww•: L D Faman J Sadie A M Dmurphy J l N Brameld R J Pidgeon SA Grtffin Awilliams O BhLvJi (App)inted6 t)ecember2021) IApFLintsd 11 JLty 2022)
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED TRUSTEES REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Th• trustees under charity law • •lso fv company direcior$ under eompany law. The Board of Tru$tee$ are appointed by the members at the Annual G•n•rnl M••ling. Th• board ol irustee$, which can have between nile andfifteen members.admN)istetsthecharity. As set tsyt in Ih¢ Arttcles of Assooalion Ihe boa mèèts at kast ten times in 3 year. The is a standing subcommittee managin9 the bar. Other sub cornmittees of worting groups m•y bg er¢aled a$ wquifed. All p(4icy and major decions relalong to Ihe trust a taken by the Trusiees. The Truslees operate a hand$-on mèna9emenl approach and af• very muth invow the day to day opernlion ofthtttheatre and arts contm. Slaff The trust employs four part time and ¢)thgr contracii)r$ 10 handle the day lo day centre adffltsni51r31ion and matnttfianeè, and IMement its policies_ Voluntfrers Like many charitabl• orgarMsatK>n5. the trust re•9 to a cons*lerable •¥lent on the ¥010ry work of many peopl¢. The charity has had di¥cussions with Watford Borough Counol to enable c0-ordinatn ofthè pr¢)vision of arts Tn thg borough. The Walford Borough Couwl owns th• fr¢ehokl ollhe Pump House Theatre and Arts Centre. The only financial tiansaclions with the Counril during Iht year wer• Ihe paym•nt of rent and buildings insurartrce emiurns duè underthe leaseand ongoing $ubsith"sed rates payments. Risk Man8pment Internal risks are minimised by implèmèntation of procÈduresforthe aUlh15alItsn of all transacb.ons and proie¢ts and to ensure consistent quality of delivery for all opèralional aspects ol the Trust. These produr¢S are pèriodKally rewewed to •nsur• that they still meet th• netds of the Trvst. The Trustees regularly review the m¥jor Msks towhKh Ihe trust is exposeo medings and have established systemsto mrtlgate those ri$ks. These risks include damage lo reputation. crirninal acls. dala los$. heatth and 50f•ty, and change to income sources. Thi$ fftport was apswo¥•d by the tntstees on................... 5ign•d on Iheir behaw by L D Farnian Chairman J Sad•0 Finanwl
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED STATEMENT OF TRUSTEES REPORT RESPONSIBILrriES FOR THE YEAR ENDED 31 AUGUST 2022 ststement of Truslees Responsiblllti¢s Company law fequires the truslees to prepare finanual statements for e8th finantyal year. whTrch gwe a true and fair view of Ihe slale of affairs of the chaiitable company and of the net 1rwrnln{Wlgoir#jI resources for the yèar. lft preparing thefinawal slalementslhe Management CcKnntiee arn required to Selectsustable accounting wjiriesand applythem consistenuy Makejudgmentsand eth'matesthatare reaSonat and wdent Pfepafe Ihe financial statement$ on a [XceM basis unlessit is inappropriateto do so trustees are resFMsible for keeKX"n9 proper accowth.ng records whith thsdose with Teasonable at any lime Ihe fin8naal position of the charitable ccfflpany and to enatye rt to ensure that the ffinan¢ial $t*ement$ eompty with the Companies Acl 20. They a also respC$1b1e for Safeguarding the assets of the charitabl• company and hcefortakira 5tepsforthe prevenlicffland detethon offrwd 8nd other iwre9ularities. Tli$ report and the financial staternent5 ha¥e been in aCc3Fte Ihe special provisions ofpart 15ofthe companACt20 relating to small entities the Finanoal Reporting Standard forsmall Entitles issued inApril 2Crt)8 the provisions ofthe charlIe$AC1S that delermine the lorm and Clent ofCharityAnnual Reports Statementol RecomdelI Practice.. Ar¢(xmling and Repvrb"ng tychaiitses i5$ued in March 2C#)5. Ind•perNlent examination The Pump House Theatre & Arts Lirniled is required to have an Inwndent Examinalion in a¢uwdancè wilh Ihè provisions in the CharitiesAd 2011 and Companie5Acl 20(. Accorth"nyy. SlerfingAmnting Soluti?ns Ltd was appointed Independent Examiner8llhè ty the PHTATLBtsartl Meeting on 20A"1202o.
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PUMP HOUSE THEATRE AND ARTS TRUST LIMITED I report lo the trustees on financTral s&itenwl& of Pw House Theatre K1 Arts Trusl Limited (charity no.. 265667 ,' c¥mpany no. 1(P35244) fw the year ended 31 August 2022. which are sel OLrt on ptyes 8 to 16. Responslbllities and Imls of itport As the truslees of the tharitable company you are reSpsItI for the preparab.on of the finanual statements in accordance1h the Tequirernenls Of1 ChaTibes Ad 2011 {the 2011 A¢1) and Ihal an Independenl examinalion is needed. I report in respect of my examinabon of the charitable ccrfnpanys financaal statemen15 carried out under section 145 of the 2011 Act. In carrying (Mjt my examinalion I have k41rywed all the aFplicable Diredions given by Ihe Charity Comrrnssion under section 14515)Ib) of the 2011 Act. 8asls of Ind•p•nd•nt •xamiMfs rnptyt My examination was carried txrt in 8¢x0rd genw¥ Dire¢on8 grwen by Ihe Charify Ctynmis$i¢)n. An examinats.on includès a review of the accounts.ny re¢ords kepl by tharity arKI a comparison of the finanaal statements psented wrth those re(xxd$. It also indudes cowderabon of any unusual items or disdosures in Ihe fÈnanrial ststements, and seeking explanab.ons from you as trustees conceming any such matters. The procedures undertaken do nol proyth all the eVIder that WOLsld be reqre in an audit and consequenuy no Opini is gwen as to whether the financial statements wesent a Irue and fair vie and Ihe Teport is lirnited to those mattws Set (MJI in tP next statement. In<knpendent examlnefs statement Your attenb.on is drawn to the fact that the chwty has prepared finanaal stalements in accordance with AcctsJnh"ng and Rewjrting by Chanties pparing Ihw"r actounts in actordance wth the Finanrial Rèporting Standard appli(2ble in Ihe UK and Republic of Ireland IFRS 102) in weference to the AUntIng and Reporting by Charities". Statement of RecL¥nrnended Practi issued on 1 April 2CX)5 which is refeed to in the ext1 regulat$ but has now been wthdrwn. l understand thal this has been done in Ofderforfinanual staternents to pr(widÈ a true and fairview in accordance with GenerallyAcceptedAccounting Prath"ce efledivefor r•sxt"ng periods beginnbn9 on or after 1 JanLFary 2015. I have completed my èxaminalth. I c&Jnfirm that no matters have come to my attènlim in c¢nnect¢on with the examina140n gtving me cause to believe that in any material respe¢t'. 1 - accovntiro reccds were kepl in resFeLI of the charrtaNe c(npany as required by section 130 of the 2011 Ad; or 2. the finanoal statements do notaccord7mlh1$e wrfs". 3- thefinan¢ial slatements do Thjt cOMFy7ththÉ applicaNe requirwnentscowning thè fom and ntent of aOunt$ set out in the Charities (A)unt$ and Reports) Regulations 2008 other than any requifement Ihat the accounts gNe a tft and lair view which is not a matter consmlered as part of an independent examinab'on. I havè no concerns and he come a¢ross Olher matters in conne¢aion wilh tt examination iowhich allention shovld be drawn in this report in order to enatAe a propw understanithng of the finamial statements lo be reached. £AS Sterfing A(tounting s0lLrtKs Ltd SAS House. Friarswood Chipperfiekl Road Kings Langley Herrfordshire WD4 9JB ILL JfEeLJN6 QI £Eef6 Dated.. 9 N¢wemtrr 222
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022 Total funds 2021 funds 20 2022 2022 2022 2021 Oona¢ionsandlega¢ies Charitable al1S ImfèstmentS 23.1 51,327 55.1C 78.gJ6 51.327 151011 152.011 T¢)tal Incorne 191.135 194.135 75,13S 55.1C 130,241 Charitable acliwbes 116,491 116.491 19.323 107.845 Bar Expenditurt 21.782 21.782 2.570 2.570 Total exditut• 138.2n 138.273 91,(P>2 19,3rJ 110,415 Net In¢om• for th y•arl Net Mo?1 In fund 115,gSSI 35.782 19.826 Fund balances at 1 September 2021 Release of restrided fun(Is 48.649 81.946 I65.) . 130.S95 46,164 110,769 Fund lanCeS at 31 August 2022 167. 19.359 186.457 48.649 81,946 130,595 The slat•ment of thrlres MKludes all pins•NJlosses re¢r4ni8e(l in Iheyear. All irDJmeand exFenditure deri¥efrcrfn continuin9athilw.
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED STATEMENT OF FINANCIAL POSITION AS AT3f AUGUST2022 2022 2021 Fix•d ass•ts Property, plant and equipmw 9.855 11.0 crrent assets Inventoiiès Trade and otherr1v9ble$ Cash at bank and in hand 3.070 18.340 174.520 3.073 4.305 149.478 10 195.930 {19.3281 . 156.856 138.221) ¢urr•nt Ilatsfjllo 11 Net current assels 178.802 118.635 Total as591¥ letys ¢urr•nt Il•bllltl•s 186.457 130,595 Incoffle funds Re$ln"cted funds UTrreslnLled fuThJs 19,359 167.098 81.946 48.649 186.457 130,595 The company is enlitled toth• exempthon from aud1 requir•m•nt contain•d in section 477 ofthtcompanies Ad 2006, lor the yearfrnded 31 Au9USt 2022. No member 01theMpwY deposited a Th0Ce. pwsuant lo secb"on476. requiring an auJrt ofthese finanoal $tatoment$. Th• iruste•$ acknowledge th•r respon5ibililie5 for ensuring that the tharity h•eps accknufiting rec4rds which eomplywith section 386 of theAct and for preparing financial stattments whKh grve a true and fair views oflhe stste of affairs of the company as Ihe end of ffinancial year and ol its inming resources and application of fesources. including its income and •xpenditure, lof the frnanekal year in aecordance wilh the reqU1mentS ofthe CompanlèsA 2006 relallng io finaneiai 51alements. $0 farasappliubktothg company. The$efinancialstalements h•vebeen prepared in 8rIance1th the pmvisions applwt¢ltrto¢ompanies subj•clto Ihe srnzllcompanies regime. 7 2oL Tho finanoal StanIS wefe approved by th? Trnstees 1)n ......................... LD Farnian Ch8im)an J Sadi•
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 A¢countlNJ policies Charity inforniation Purnp Hou$e Theatre An(1 Arts Tru51 Linted is a pwivate rAmpany limit¢d by yLor8rfee in¢orporated in England and wales. Ihe registtred offKe is M Lo¢•1 Board Road. Walford. Hertfordshire, WD 17 2JP. 1.1 Accounling convenlon The ffinancial statements have been wepared in accordance with the charilS tgoverning docurnentl. the Charities Act 2011. FRS 102 "The Frnanoal Rety)rtiThJ Standard appjicatde in the UK and Republic of Ireland" {"FRS 102"18nd the chth.es SORP "Accounts"ng and Reporbng by Charrties." Statement of Recommended Prathce to charities preparing their nts in accordance with Finan¢?al Reporting Standard appticable in the UK and RepU1C of Ireland IFRS 102)" {effec'¥e l January 20191. The chanty is a PU4¢ 8enefrt Enb"ty a$ defined by FRS 102. The financial ststements have departed from the Charilies IAccc¥Jnls and Reports) RegulalK)ns 2008 only to the extent Tequired to provide a true and fairviv. This departure has invoTed folltrwing the Statement of Recommendet1 Practice for charilies apYIng FRS 102 ralher than the versitjn of the Statement of Recommended Piacts"cewhich is refteI0 WJ the Regulations butwhich has since beenwithdrawn. The ¢harilabtecompany has tsken advte0fthtt WOl0nS in the SORP forcharilies applying FRS102 notto Pfepare a statÈmeM ofcash flows. The finonoal statemenls are prepwed tn sterfffwJ, whith B the funcln¥1 cuffency of the d)arity. Monthary amounts thesefina1sl siatements are roUred ttst nearest £. 1.2 Goingconc¢rn At the ty.me of approving the financaal staterrt$. the trustees have a reasonable expectation Ihal Ihe charity has adequate resources lo conlinue in operational existence for the fweseeable fvlure. Thu5 the trustees ntinue to adopl the 9c4n9 concem basis of acrxjunb'ng in preparing Ihe firwiciaj statements. 1.3 Charltsblefunds UnréridefJ are those fwKts that are avalaNe to the Iruste•s kn ihe furtherance of the caritable objectives. Rèstiicted lurM15 represent 9rants. donakn arxl legacs wved are subject to spec4.fic conditions by donors as to how they may be used. 1.4 Iome Income is recognised when chaiitat>l& company is enlilled to it after any perfrJrmarr conditions have been rnel. the amounts¢an be nasured relwbty. 8nd it probable thatincome wll received. 1.5 Exp•nditure Expendrture is recogrmsed when a is in(yJrred, rt is wobable that the lbIlity wll r3ystallise and can bemeasuredreliably. 10-
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Aeeounting pollcles {Continu•dl 1.6 Property.plantandequlF¥nènt Property. plant and Èquipment are iThbaly rTEa5wed at C051 arAI SLknsÈwty mtssured at cost valualion. net of dewecialion and any impam)ent losses. Depreuation 1$ rec(>Jnised so as lo wrrie off the ¢031 valuation of assets less their resal values over thw"r useful lives on the folling bases: Leasehold improvernents Fixtures ant1 fittings Slage Equipment Stagè Lightiny Redwng Balance 20% per anum Reduting b8lance at25% peraftum Reduting 8aiance25% perartum ReduciThJ Bal 12.5% peranum The gain or 1055 arising on the disposal of an asset is detemihned a5 the dtfference bebveen the sale procee<l$ and the ¢arryKw value of the asset. WKI is re(yised in inJ(eXpendrtl¢) for the year. Capitalisation ExpendFture in excess of £5CM) vhuch enhKes OT athjs to the wal offixed assets 1$ c8rAalised and depreciatet1. Expendiiure M m•ntaining ty ieiumirwJ assets to origin•l ¢ondition i% written off a$ incuffed. 1.7 Inventories Stocks are initialty recognisèd at Iwsadion arKI sWuenty valued at the lower of Cost aThl nel liSae value. Stock movements are aCCnted for on a first in, first bas. 1.8 Cashand cash•quivaler Cash and cash equivalents indude cash in hand. deposits hekl at call with banks. other short-term liquid inveslments wrth original m*urities of three months or less. aThJ bank overdrafts. Bank overdrafts are $hown wthin bcfrowings in CLwrent lithlib"es. In•t10n$anIo9Cies furKIs nds funds 2022 2021 Donats"orts and gtfts Grant Income 4.950 73.956 37,X 18,851 55.1C6 42,0¥2 23.W1 55,105 78.sy Grarts receovable INald 8Ugh Council Arts Counol HMRC 31.440 &760 18.851 22.551 22.240 10,314 41.402 22.240 10.314 8.760 37,2LKI 18.851 55.105 73,956
PUMP HOUSE THEATRE AND ARTS TRUST LIWTED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2022 h•r*abl• Total sdesTrthlh d4rftAt4•xthibHs 91.161 19.995 151011 3.162 7.459 51.3V
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted Unrestricted funds fvnds 2022 Interest receivable c1Mable activltles Charltable Ch•rttsble Expendlture e¥penditure 2022 2021 Staff costs Depreciation and Impalmrt Rent Rates Water Insurance Cleaning Light & Heat Professional Fee5 Telephone 31.882 2.105 8.255 526 546 6.990 5.853 13,933 11.7161 814 1.261 309 11.6Crf) 28,477 2.600 8.011 204 7.409 2,413 9,534 3,700 642 1222) 130 13,485 1,111 1.518 1.51X) 1,133 22,769 2.991 Securty Rtrpairs & matenC Printing & Stalior Sundry Independent Examinels Fee: For Exanynbtion Acu)untsrLy Fees Markebng & Promoti Perforrner & Venue Payments 3,484 1.290 14.314 11.244 116,491 107.845 Analysis by lund Unrestncled funds Restricte(I funds 116.491 88.522 19,323 13-
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL STATEMEwfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Employees The a¥•rage nnINY Nmber of emplwes a}ng theyw ¥Ms". 2022 pMts•r 2021 Numb•r Caretskef Cjeaner Office Administrators Total Employment costs 2022 2021 Wages and salaries 31.882 28,477 There we no emF4oyeeswhose annual rermjrwation wa5 Klan£Go,rXii. B•r Expendltur• Unr•stricted Unrestricted funds fuThJ5 2022 Opening Stty Purchases Closing St& Consumables 3.073 15,225 13,0701 6,554 3,268 1.516 13.0731 859 21.782 2,570 14_
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL sTATEMEs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Property. plant and •quipm•nt St•g• S•4• Ll4ht Total Cost Al 1 Seplember2021 81.W3 46.412 13.418 53,843 195,S76 At 31 August 2022 81. 46,412 13.418 195,576 Dèpreciation and IM1rM•rt At I September 2021 Depfeciatton charged intre year 76.839 1.013 13.399 48.780 183,616 2.105 At 31 August 2022 77.852 45.052 13.4Tr1 49,413 185.721 CarySng anv)uni At 31 August 2022 4.(fj1 14 4.430 9.855 At 31 August 2021 1.814 19 5.rfj3 11,960 Inventories 2022 2021 Finishe(I gcKJds and gcods for res* 3.070 3.073 10 Tr•de arNI olher rec•lvables 2022 2021 Amounts talling wllhin one year. Other rerAvables Prepayments and ¥Ax1 income 1,204 3.100 17,254 18,340 4.305 11 Current Ilab511 2022 2021 Trade payatles Other payables Acuuals 8nd deferred income 3.842 13,207 21.172 19,328 38,221 15-
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 12 Analysls ofnetasselslt¥fftn funds Telal Unrestricted Restrided fvnds funds 2021 2021 Total funts 2022 funds 2022 Fund balarwts at 31 ALtgust 2022 are represented by. Property. plant aThl equipment Currernl a$5etsl (liabilities) 11.550 157.243 19,359 176.2 81.946 118.635 167.098 19,359 1&5,457 81.946 130.595 13 Rdated party transactlorfa The We no disdos8ble related p8ty $•10nS dng tp ye8r12021 - rK)nel. 14 Op•ratifi9leas•eommitinents As at the rewling date the charitat c4)mpany had an oJtstanrftng commitment for lease payments under the Current lease which cDntains a LKeak dause in favour of the asee. the aSee may give 6 m)nth$ io quit and lea¥e at the end of Ihe notice peri¢)J. Currenoy ihe landlord is in¥orAng a rent of £8.589 p.a. fty the period to2024. 15 Tluslee RemUnerationand•xrtes The truslees compfi.se key rnana9ement of the Trust. None of Iru*ees recwved any ftmuneralion payments for tiVitieS carried cxrt on behaw oytht Tntst12021." none). 16-