**Charity registration number 265667** **Company registration number 01095244 (England and Wales)** # **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|L D Farman| |---|---| ||J Sadie| ||A M D Murphy| ||J I N Brameld| ||R J Pidgeon| ||S A Griffin| ||A Williams| ||D Bhudia| ||A J Cox| ||P J Mccusker| |**Secretary**|S A Griffin| |**Charity number**|265667| |**Company number**|01095244| |**Registered address**|5-6 Local Board Road| ||Lower High Street| ||Watford| ||Hertfordshire| ||United Kingdom| ||WD17 2JP| |**Independent Examiner**|Sterling Accounting Solutions Ltd| ||SAS House, Friarswood| ||Chipperfield Road| ||Kings Langley| ||Hertfordshire| ||WD4 9JB| ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 5| |Statement of trustees responsibilities|6| |Independent examiner's report|7| |Statement of financial activites|8| |Statement of financial position|9| |Notes to the financial statements|10 - 16| ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 31 AUGUST 2024**_ The trustees present their annual report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 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 January 2019). ## **Objectives and activities** ## _Charitable Aims_ The charity was established to operate, maintain and improve facilities to benefit and educate the public through participation in all forms of accessible artistic activity. The Pump House Theatre and Arts Centre is the main asset used to achieve these aims, alongside a dedicated team of staff and volunteers. The charity has become Watford’s hub encouraging emerging talent and building a strong community artistic culture. The trustees have reviewed and complied with their duty as set out in section 4 of the Charities Act 2006 in regard to public benefit. The trustees have used the number and type of artistic activities in a year as well as the number of participants (active participants and audience) as an indication of the public benefit achieved. ## _Charitable Activities_ The principal activities of the Trust are aimed at supporting the provision of facilities for community groups in the fields of art, dance, music, theatre, comedy and artistic activities, as well as hosting professional performances for the enjoyment by local audiences. To achieve this, the Theatre and Arts Trust: - Provide enhanced facilities for amateur and professional artists to use and develop artistic events. Groups in the area are supported as part of our hub through working partnerships and flexible conditions - Maintaining and administering the centre to support regular artistic user groups - Improving and developing the facilities through consultation with the user groups to increase access, ensure continuing safety and enhance artistic content - Offers opportunities for a broad range of the local community to get involved in arts activity exploring their own creative powers - Encourages involvement of young people in the arts to help promote a culture in which different age ranges play a complementary part - Celebrates the diversity of cultures in our society through promoting the activities of the user groups and operating an open access policy - Reduce any impact of our activities on the environment Fee levels for users of the centre are set at a level to cover the cost of operating and maintaining the centre. Evidence shows that these levels continue to be good value and do not act as a barrier to artists and user groups using the centre, however the balance between costs and income needs to be constantly monitored. There is considerable evidence to support the Trustees’ view that the Trust enjoys a good relationship with its clients, users and the wider community. - 1 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **Achievements and performance** We have had a good year with increases in the number of events and people using the venue. Through the dedication and skill of our staff, board and volunteers we have managed to keep the Trust in a stable position and find a way to continue developing our offering. Our two high profile patrons (Dan Dark and Chris Luff) have continued to help bring focus and connections to our future plans. We continue to make good progress in our “Raise the Roof” campaign to replace the Theatre roof and provide significant improvement to our facilities and accessibility. Due to dedicated work of a few volunteers, we have already developed architectural plans, secured planning permission and undertaking investigation work to support detailed planning. We have also progressed well on discussions with funding sources as well as running a number of successful fund-raising events. We have continued to make progress in our vision to develop and improve the Pump House and to keep it relevant and connected to the needs of the local community and its users. We have sought and gained some additional funding. This has only been possible with the extraordinary support of a limited number of dedicated staff and volunteers. Support from Watford Borough Council and other partners has been critical during this period. We have been in close communication with our user groups and hirers and supported them financially and with advice to help them continue their in activities through various challenges. During this year we have continued our programme maintenance and improvements. We have continued with a part time Business Development Manager who has continued to help achieve significant progress on funding bids, audience development plans, build very good links with Watford Borough Council, Watford Palace Theatre, local business groups and established strong communications with many other partners. We have significantly improved our marketing capabilities and output to increase awareness of our activities and more work is needed to make best use of limited budgets to connect with local population. We continued to be part of the Watford Council’s Voluntary Sector Commissioning Framework which provides some ongoing funds that enable us to act as a catalyst and support to Watford Cultural activities and goals. We have continued to modernise our structure and governance, including welcoming new board members who bring an extensive, relevant connections and experience. We have taken a leading role in Watford’s cultural leaders’ group and delivery of the Cultural Strategy, including: - Co-running the Watford Community Arts Forum that provides a bridge between grass roots local arts and Watford Cultural Leaders. - Supporting the development of Watford Culture initiatives with Watford Borough Council. - Leading and running the annual Watford Fringe festival as part of our remit as a hub for emerging talent to give the chance for local artists of all types to showcase their work and for the local community to have access to a broad range of quality entertainment from around the UK. This festival which we moved to July as part of a wider growth plan for the festival, creates an accessible platform for local talent as well as acting as focus to bring collaboration with Watford cultural stakeholders and also brings many benefits to the Pump House Trust. - This is a growing and successful festival across multiple Watford venues. This festival shows off the great, sometimes overlooked talent in Watford and, thanks to the dedication of the Pump House volunteers and support from our partners, is a growing artistic festival. We also hosted other festivals including LP Record Day, Jazz Junction Jazz festival and Proud Watford events. - 2 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ We had a full programme of events, with activity almost returning to pre-pandemic levels, with over Activities included plays, musicals, drama festivals, children’s theatre, dance, comedy, film, folk, jazz, classical music, openmic music club, local band nights and art exhibitions. The quality of all events continues to be high, and the reputation of centre is building through increased numbers of new people coming through our doors drawn in by the new activities. Several fund-raising activities have also helped support the Pump House as well as strengthening its community connection. Our employees (all part time) have continued to perform well in their roles and are a significant asset in the smooth running of the centre. We have also welcomed new staff members this year who have brought new strength and capabilities to our friendly team. We have developed our volunteering programme and will continue to do more work in this area, with some support from W3RT. Our volunteers are vital to our success and are the warmth at the core of the Pump House family. The bar volunteers especially are key to the keeping the Pump House open and able to continue providing a community venue for all. ## _Delivering Public Benefit_ Public benefit has been realised this year by the charity continuing to achieve its stated aims of operating the Pump House Theatre and Arts centre as a facility for community artistic activity. The benefit has been demonstrated over the last year through the following indicators: - More than 36,000 participants through the door in all activities (active participants and audience) - Over 25 theatrical productions and workshops (in person and online) by many different artistic groups. - These groups include some that are focused on children and persons with disabilities - Weekly “open mic”, folk and jazz music, public access groups - Weekly Clog Morris dance groups, toddler dance classes and other dance activities - Weekly open access visual art events - Drama school activities - Disability and specialist artistic groups - Watford Fringe Festival - Hosting other festivals and forums - Supported the start of Proud Watford - Hub events including comedy, cultural events, LGBTQ+ event, Black History event, workshops and more ## _Plans for future periods_ We have a plan of how to continue financially and practically in continuing difficult circumstances and will continue to constantly review and revise this plan to adapt to inevitable changes. We will continue to build on our relationship with Watford Borough Council, Watford Palace Theatre, local business organisations and other partners to increase our influence and delivery of art to the local community. We will continue to build and develop Watford Fringe, Proud Watford, and other hub catalyst activities. We will continue to prepare our major development program (Raise the Roof) for works to commence in 2026. ## _Investment powers_ The Trustees have the power to invest the moneys of the Company not immediately required for the furtherance of its objects in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions (if any) and as such consents (if any) as may for the time being imposed or required by law. Funds surplus to immediate requirements are currently held on interest-bearing bank deposits. - 3 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **Financial review** The trust is primarily self-funding with income coming from five main areas. The contributions made to the centre from the resident user groups, the rent and hire fees charged for other users, various donations, the surplus from the bars and, this year for the first time, grants from various statutory bodies. This year we have reviewed and restructured rents and contributions to ensure the Trust can balance the accounts. This has been a sensitive process as each of the groups has their own challenges and pressures. However, this process has been successful through the good working relationship between the Trust and the groups, and we would like to thank them for their continued support. The trust continues to be in a stable position financially. However, there is much that needs to be done to provide additional facilities within the centre and maintain and improve those that already exist. Progress on these desirable activities is cash limited. ## _Reserves Policy_ At the end of the financial year restricted funds were £31,635 and unrestricted funds £271,445. The Trustees will continue their endeavours to build up funds. Our policy is to maintain working cash reserves to enable day to day operation and meet short term cash flow fluctuations while accumulating funds to carry out the larger developments to the centre. The Trust operate on maintaining a minimum cash reserve to £30,000 to cover any unexpected issues without interrupting the operation of the centre. Charity reserves at 31 August 2024 were available as follows: Restricted to donor nominated purposes £31,635 Unrestricted funds £271,445 Tied up in tangible fixed assets £26,128 Available to meet operational requirements £245,317 ## **Structure, governance and management** ## _Governing Document_ The charity is governed by its Memorandum and Articles of Association dated 16 January 1973, as amended by special resolutions dated 5 June 2017. Anyone aged 18 years or over may become a member of the Company, through election by existing members at a general meeting of the company. Provision is included in the Articles of Association for Watford Borough Council to appoint two of its members as Company members. The Council has not exercised this right for several years. ## _Trustees_ The trustees who are also directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: L D Farman J Sadie A M D Murphy J I N Brameld R J Pidgeon S A Griffin A Williams D Bhudia P J McCusker A J Cox - 4 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ The Board of Trustees are appointed by the members at the Annual General Meeting. The board of trustees, which can have between nine and fifteen members, administers the charity. As set out in the Articles of Association the board meets at least three times in a year. There is a standing subcommittee managing the bar. Other sub committees or working groups may be created as required. All policy and major decisions relating to the trust are taken by the Trustees. The Trustees operate a hands-on management approach and are very much involved with the day to day operation of the theatre and arts centre. ## _Staff_ The trust employs four part time and other contractors to handle the day to day centre administration and maintenance, and implement its policies. ## _Volunteers_ Like many charitable organisations, the trust relies to a very considerable extent on the voluntary work of many people. ## _Related Parties_ The charity has had discussions with Watford Borough Council to enable co-ordination of the provision of arts in the borough. The Watford Borough Council owns the freehold of the Pump House Theatre and Arts Centre. The only financial transactions with the Council during the year were the payment of rent and buildings insurance premiums due under the lease and ongoing subsidised rates payments. ## _Risk Management_ Internal risks are minimised by implementation of procedures for the authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Trust. These procedures are periodically reviewed to ensure that they still meet the needs of the Trust. The Trustees regularly review the major risks to which the trust is exposed at board meetings and have established systems to mitigate those risks. These risks include damage to reputation, criminal acts, data loss, health and safety, and change to income sources. ## 04/11/2024 This report was approved by the trustees on .................................... and signed on their behalf by **L D Farman** Chairman ## **J Sadie** Financial Controller - 5 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **Statement of Trustees Responsibilities** Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the net incoming/(outgoing) resources for the year. In preparing the financial statements the Management Committee are required to - Select suitable accounting policies and apply them consistently - Make judgments and estimates that are reasonable and prudent - Prepare the financial statements on a going concern basis unless it is inappropriate to do so The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable it to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking steps for the prevention and detection of fraud and other irregularities. This report and the financial statements have been prepared in accordance with - the special provisions of part 15 of the Companies Act 2006 relating to small entities - the Financial Reporting Standard for Small Entities issued in April 2008 - the provisions of the Charities Acts that determine the form and content of Charity Annual Reports - Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005. ## **Independent examination** The Pump House Theatre & Arts Limited is required to have an Independent Examination in accordance with the provisions in the Charities Act 2011 and Companies Act 2006. Accordingly, Sterling Accounting Solutions Ltd were appointed as Independent Examiner at the PHTATL Board Meeting on 05 December 2022. - 6 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** I report to the trustees on the financial statements of Pump House Theatre and Arts Trust Limited (charity no: 265667; company no. 1095244) for the year ended 31 August 2024, which are set out on pages 8 to 16. ## **Responsibilities and basis of report** As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the next statement. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - Accounting records were not kept in respect of the charitable company as required by section 130 of the 2011 Act; or - The financial statements do not accord with those records; or - The financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Sterling Accounting Solutions Ltd SAS House Friarswood Chipperfield Road Kings Langley Hertfordshire WD4 9JB 11 / 11 / 2024 Dated: ......................... - 7 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
34,716
18,809
Charitable activities
**3**
234,355
-
Investments
**4**
4,310
-
**Total income**
273,381
18,809
**Expenditure on:**
Charitable activities
**5**
191,199
1,760
Bar Expenditure
**7**
32,306
-
**Total expenditure**
223,505
1,760
**Net income for the year/**
**Net movement in funds**
49,876
17,049
Fund balances at 1 September
2023
210,795
25,359
**Fund balances at 31 August**
**2024**
260,672
42,408|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
53,525
55,937
17,450
234,355
178,141
-
4,310
1,337
-
292,190
235,415
17,450
192,959
164,661
11,450
32,306
27,056
-
225,265
191,717
11,450
66,925
43,698
6,000
236,154
167,097
19,359
303,080
210,795
25,359|**Total**
**2023**
**£**
73,387
178,141
1,337| |---|---|---| |||252,865| |||176,111| |||27,056| |||203,167| |||49,698
186,456| |||236,154| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 8 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 31 AUGUST 2024**_ |**Notes**
**Fixed assets**
Property, plant and equipment
**9**
**Current assets**
Inventories
**10**
Trade and other receivables
**11**
Cash at bank and in hand
**Current liabilities**
**12**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds|**2024**
**£**
5,773
5,820
278,484
290,077
(13,125)|**£**
26,128
276,952
303,080
31,635
271,445
303,080|**2023**
**£**
4,270
6,963
219,803
231,036
(16,593)|**£**
21,711
214,443| |---|---|---|---|---| |||||236,154| |||||25,359
210,795| |||||236,154| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair views of the state of affairs of the company as the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 04/11/2024 The financial statements were approved by the Trustees on ......................... ## **L D Farman** Chairman **J Sadie** Financial Controller - 9 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **1 Accounting policies** ## **Charity information** Pump House Theatre And Arts Trust Limited is a private company limited by guarantee incorporated in England and Wales. the registered office is 5-6 Local Board Road, Watford, Hertfordshire, WD 17 2JP. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS102 not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are those funds that are available to the trustees for the furtherance of the charitable objectives. Restricted funds represent grants, donations and legacies received and are subject to specific conditions by donors as to how they may be used. ## **1.4 Income** Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.5 Expenditure** Expenditure is recognised when a liability is incurred, it is probable that the liability will crystallise and can be measured reliably. - 10 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Property, plant and equipment** Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold improvements Reducing Balance 20% per annum Fixtures and fittings Reducing Balance at 25% per annum Stage Equipment Reducing Balance 25% per annum Stage Lighting Reducing Balance 12.5% per annum The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. ## **Capitalisation** Expenditure in excess of £500 which enhances or adds to the value of fixed assets is capitalised and depreciated. Expenditure on maintaining or returning assets to original condition is written off as incurred. ## **1.7 Inventories** Stocks are initially recognised at transaction value and subsequently valued at the lower of cost and net realisable value. Stock movements are accounted for on a first in, first out basis. ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **2 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
9,845
-
Grant Income
24,871
18,809
34,716
18,809
**Grants receivable**
Watford Borough Council
24,871
18,809
24,871
18,809|**Total**
Unrestricted
Restricted
funds
funds
**2024**
2023
2023
**£**
£
£
9,845
10,781
-
43,680
45,156
17,450
53,525
55,937
17,450
43,680
45,156
17,450
43,680
45,156
17,450|Total
2023
£
10,781
62,606| |---|---|---| |||73,387| |||62,606| |||62,606| - 11 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **3 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Theatre & Arts Centre|159,991|119,245| |Bar Income|69,629|53,836| |Other Income|4,735|5,060| ||234,355|178,141| - **4 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Interest receivable|4,310|1,337| - 12 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **5 Charitable activities** ||**Charitable**|
**Charitable**| |---|---|---| ||**Expenditure**|**Expenditure**| ||**2024**|**2023**| ||**£**|**£**| |Staff costs|40,759|35,634| |Depreciation and impairment|6,356|5,098| |Rent|9,121|10,370| |Rates|231|247| |Water|777|527| |Insurance|9,058|7,966| |Cleaning|5,187|1,729| |Light & Heat|17,771|18,198| |Professional Fees|223|209| |Telephone|854|632| |Licences|3,049|3,243| |Security|123|388| |Repairs & Maintenance|26,664|33,117| |Printing & Stationery|570|1,027| |Sundry|1,065|3,114| |Independent Examiner's Fee: For Examination|1,750|1,750| |Accountancy Fees|1,381|1,231| |Business Development & Marketing|38,662|38,934| |Performer & Venue Payments|29,358|12,697| ||192,959|176,111| |**Analysis by fund**||| |Unrestricted funds|191,199|164,661| |Restricted funds|1,760|11,450| ||192,959|176,111| ## **6 Employees** The average monthly number of employees during the year was: |Caretaker
Cleaner
Office Administration
Total|**2024**
**Number**
1
1
2
4|**2023**
**Number**
1
1
2| |---|---|---| |||4| - 13 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ |**Employees**||**(Continued)**| |---|---|---| |**Employment costs**|**2024**|**2023**| ||**£**|**£**| |Wages and salaries|40,759|35,634| ## **6 Employees** There were no employees whose annual remuneration was more than £60,000. ## **7 Bar Expenditure** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2024**|2023| |Opening Stock|4,270|3,070| |Purchases|28,627|21,442| |Closing Stock|(5,773)|(4,270)| |Consumables|5,182|6,814| ||32,306|27,056| ## **8 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **9 Property, plant and equipment** |**Leasehold**
**improvements**
**Fixtures and**
**fittings**
**Stage**
**Equipment**
**Stage Lighting**
**£**
**£**
**£**
**£**
**Cost**
At 1 September 2023
98,856
46,412
13,418
53,843
Additions
8,976
1,798
-
-
At 31 August 2024
107,832
48,210
13,418
53,843
**Depreciation and impairment**
At 1 September 2023
82,053
45,392
13,407
49,967
Depreciation charged in the year
5,156
705
11
484
At 31 August 2024
87,209
46,097
13,418
50,451
**Carrying amount**
At 31 August 2024
20,623
2,113
-
3,392
At 31 August 2023
16,803
1,021
11
3,876|**Total**
**£**
212,529
10,774| |---|---| ||223,303| ||190,819
6,356| ||197,175| ||26,128| ||21,711| - 14 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **10 Inventories** |Finished goods and goods for resale
**11**
**Trade and other receivables**
**Amounts falling due within one year:**
Trade receivables
Other receivables
Prepayments and accrued income
**12**
**Current liabilities**
Trade payables
Other payables
Accruals and deferred income
**13**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**2024**
**£**
**£**
Fund balances at 31
August 2024 are
represented by:
Property, plant and
equipment
26,128
-
Current assets/(liabilities)
241,760
35,192
267,888
35,192|**Total**
Unrestricted
funds
**2024**
2023
**£**
£
26,128
21,711
276,952
189,084
303,080
210,795|**2024**
**£**
5,773
**2024**
**£**
1,375
569
4,445
6,389
**2024**
**£**
2,213
5,717
5,764
13,694
Restricted
funds
2023
£
-
25,359
25,359|**2023**
**£**
4,270| |---|---|---|---| ||||**2023**
**£**
685
2,044
4,234| ||||6,963| ||||**2023**
**£**
6,448
5,000
5,145| ||||16,593| ||||Total
2023
£
21,711
214,443| ||||236,154| ## **14 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 15 - ## **PUMP HOUSE THEATRE AND ARTS TRUST LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_ ## **15 Operating lease commitments** As at the reporting date the charitable company had an outstanding commitment for lease payments under the current lease which contains a break clause in favour of the lessee, the lessee may give 6 months to quit and leave at the end of the notice period. Currently the landlord is invoicing a rent of £9,835 p.a. for the period to 2024. ## **16 Trustee Remuneration and expenses** The trustees comprise the key management of the Trust. None of the trustees received any remuneration payments for activities carried out on behalf of the Trust (2023: none). - 16 -