Company registration number: 01095244 Charity registration number: 265667
PUMP HOUSE THEATRE AND ARTS TRUST LIMITED (THE) TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
Sterling Accounting Solutions Ltd Chartered Accountants SAS House Chipperfield Road Kings Langley Hertfordshire WD4 9JB
Pump House Theatre And Arts Trust Limited (The) Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities (including Income and Expenditure Account) | 8 |
| Comparative Statement of Financial Activities (including Income and Expenditure Account) |
9 |
| Balance Sheet | 10—11 |
| Notes to the Financial Statements | 12—20 |
Pump House Theatre And Arts Trust Limited (The) Reference and Administrative Details For The Year Ended 31 August 2025
| Trustees | P J McCusker |
|---|---|
| A Williams | |
| S A Griffin | |
| J I Brameld | |
| J Sadie | |
| A J Cox | |
| A M Murphy | |
| D Bhudia | |
| L D Farman | |
| J R Stevens (appointed 03/03/2025) | |
| R J Pidgeon | |
| Company Secretary | S A Griffin |
| Charity Number | 265667 |
| Company Number | 01095244 |
| Registered Office | 5-6 Local Board Road |
| Lower High Street | |
| Watford | |
| Hertfordshire | |
| WD17 2JP | |
| Independent Examiner | Will Sterling ACA |
| Sterling Accounting Solutions Ltd | |
| Chartered Accountants | |
| SAS House | |
| Chipperfield Road | |
| Kings Langley | |
| Hertfordshire | |
| WD4 9JB |
Page 1
Pump House Theatre And Arts Trust Limited (The) Company No. 01095244 Trustees' Report For The Year Ended 31 August 2025
The trustees present their report and the financial statements for the year ended 31 August 2025.
Objectives and Activities
Aims and Objectives
Charitable Aims
The charity was established “to promote, maintain, improve and advance public education� particularly by the production of educational plays and the encouragement of the arts to� formulate, prepare and establish schemes therefore”. This is primarily achieved through the� operating, maintaining and improving 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, awareness 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.
���������� 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 and� forums, as well as hosting professional performances for the enjoyment by local audiences. To� achieve this, the Theatre and Arts Trust:
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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
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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
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Encourages involvement of young people in the arts to help promote a culture in which different age ranges play a complementary part
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Celebrates the diversity of cultures in our society through promoting the activities of the user groups, forums and operating an open access policy Reduce any impact of our activities on the environment
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Taking an active role in the development of culture in Watford and collaborating with local partners and stakeholders
Fees 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.
Page 2
Pump House Theatre And Arts Trust Limited (The) Trustees' Report (continued) For The Year Ended 31 August 2025
��������������
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:
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More than 36,000 participants through the door in all activities (active participants and audience)
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Over 25 theatrical productions and workshops (in person and online) by many different artistic groups.
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These groups include some that are focused on children and persons with disabilities Weekly “open mic”, jazz music, public access groups Weekly children dance classes and other dance activities Weekly open access visual art events Drama school activities
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Disability and specialist artistic groups Watford Fringe Festival
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Hosting other festivals and forums
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Running the Proud Watford project
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Increase art exhibitions
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Hub events including comedy, cultural events, LGBTQ+ event, Black History event, cultural forums, workshops and more
Plans for future periods
We have a plan of how to ensure our financial and practical viability in continuing difficult� circumstances and will constantly review and revise this plan to adapt to inevitable changes. We� have financially modelled the next 2 years to ensure we can accommodate the planned building� works.
Upward cost pressures, driven by the current economic climate, continue to add potentially� significant risks to any plans. We will continue to monitor these risks and adapt our plans as� needed.
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.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities� Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
...CONTINUED
Page 3
Pump House Theatre And Arts Trust Limited (The) Trustees' Report (continued) For The Year Ended 31 August 2025
Achievements and Performance
Main Achievements
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 and we wish thank all involved.
Our two high profile patrons (Dan Dark and Chris Luff), alongside a number of key partner� organisations have continued to help bring focus and connections to our future plans.
We have made 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 made good progress with detailed planning in conjunction with our appointed� professional consultants. We have also progressed well on discussions with funding sources as� well as running several 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� under the current economic climate.
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.
Our limited marketing capabilities has continued 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:
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Co-running the Watford Community Arts Forum that provides a bridge between grass roots� local arts and Watford Cultural Leaders.
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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 in July has continued to grow with more venues, performers and� audience achieved this year. 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.
-
Our Proud Watford project, raising diversity awareness and respect through artistic� activities, continues to have a positive effect for Watford Culture and the local communities.
Other festivals including LP Record Day, Jazz Junction Jazz festival and Proud Watford events were also hosted.
Page 4
...CONTINUED
Pump House Theatre And Arts Trust Limited (The) Trustees' Report (continued) For The Year Ended 31 August 2025
Main Achievements - continued
The Centre 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, open-mic 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.
We have opened a new part time café with some support from WBC and some key volunteers. The café will also host some artistic events as well as support the regular expanded art exhibitions.
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 with a new volunteer leads and implementing a software platform to manage recruitment, roles and activities. 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.
Financial Review
Financial Position
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 £1,258 and unrestricted funds £292,958
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 £50,000 to cover any unexpected issues without interrupting the operation of the centre.
Charity reserves at 31 August 2025 were available as follows:
| Restricted to donor nominated purposes | £1,258 |
|---|---|
| Unrestricted funds | £292,958 |
| Tied up in tangible fixed assets | £52,795 |
| Available to meet operational requirements | £240,163 |
Page 5
Pump House Theatre And Arts T•t Limited (The) Tru5tee5' Report {contlnued) For The Year Ended 31 August 2025 structure, Governance and Management Governlng Document The charlty is governed by its Memorandum and Artldes of Assoclatlon dated 16 January 1973. as mended 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 meetlng of the company. Provision is induded In the Article5 of A55ociation for Watford Borough Counol to appoint two of its members as Company members. The Counc51 has a current fomial pollcy to not exerclse thls rlght. statement of Trusteu, Ruponslbllltle• The trustees (who are also the dlrectors of Pump House Theatre And Arts Trust Llmlted (The) for the purposes of company lawl are responsible for preparing the Trustees, Réport and the flnanclal statements In accordance with applicable law and United Kingdom Accountlng Standards {Unlted Klngdom Generally Accepted Accountlng Pract1). Company law requlres the trustees to prepare flnanclal statements for each finandal year. Under company law the trustees must not approve the financlal statement unle55 they are satlsfled that they glve a true and falr vlew of the state of affalrs of the charitable company and of the Incomlng resources and appllcatlon of resources, Indudlng the Income and expenditure, of the charltable company for that perfod. In preparfng the flnancial statements the trustees are requlred to.. select sultable accountlng pollcles and then apply them cons15tentlyi observe the methods and prlnciples In the Charity SORP,. make judgments and accounting estlmates that are reasonable and prudent. and prepare the flnanclal statements on the 9olng concern basls unle55 It Is Inapriroprlate to presume that the company will contlnue In business. The trustees are responsible for keeplng adequate accountlng records whlth dlsclose wlth reasonable accuracy at anytlme the financial posltlon of the charltable CoMnY and to enable them to ensure that the accounts comply wlth the Companles Act 2006. They are also responslble for safeguardlng the assets of the company and hence for taklng reasonable steps for the preventlon and detection of fraud and other Irregularftles. The trustees are re5ponslble for the malntenance and Integrlty of the corporate and financbal Inforrnatlon Included on the charltèble company's website. Leglslatlon In the Unlted Klngdom governlng the preparatlon an¢i dlssemlnatlon of flnanclal ststements may dlffer from leglslatlon In other Jurlsdlttlons. The trustees. report was approved by the board of trustee5 and slgned on Its behalf by.. adle L O Farman Trustee Date Trustee Isl,, Y) Page 6
Pump House Theatre And Arts Trust Limited (The) Independent Examiner's Report to the Trustees of Pump House Theatre And Arts Trust Limited (The) For The Year Ended 31 August 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
Responsibilities and Basis of Report
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 accounts to be reached.
Will Sterling ACA Date Sterling Accounting Solutions Ltd Chartered Accountants SAS House Chipperfield Road Kings Langley Hertfordshire WD4 9JB
Page 7
Pump House Theatre And Arts Trust Limited (The) Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 Charitable activities: 5 Theatre & Arts Activity Bar Activities Investments 6 EXPENDITURE ON: Charitable activities: 8 Theatre & Arts Activity Bar Activities NET (EXPENDITURE)/INCOME Transfers between funds 20 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 20 |
Unrestricted funds £ 40,596 205,596 64,337 4,837 |
Restricted funds £ - - - - |
2025 Total funds £ 40,596 205,596 64,337 4,837 |
2024 Total funds £ 53,525 164,726 69,629 4,310 |
|---|---|---|---|---|
| 315,366 | - | 315,366 | 292,190 | |
| (288,598) (34,171) |
(1,461) - |
(290,059) (34,171) |
(192,959) (32,306) |
|
| (322,769) | (1,461) | (324,230) | (225,265) | |
| (7,403) 28,916 |
(1,461) (28,916) |
(8,864) - |
66,925 - |
|
| 21,513 271,445 |
(30,377) 31,635 |
(8,864) 303,080 |
66,925 236,155 |
|
| 292,958 | 1,258 | 294,216 | 303,080 |
The notes on pages 12 to 20 form part of these financial statements.
Page 8
Pump House Theatre And Arts Trust Limited (The) Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 Charitable activities: 5 Theatre & Arts Activity Bar Activities Investments 6 EXPENDITURE ON: Charitable activities: 8 Theatre & Arts Activity Bar Activities NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 20 |
Unrestricted funds £ 34,716 164,726 69,629 4,310 |
Restricted funds £ 18,809 - - - |
2024 Total funds £ 53,525 164,726 69,629 4,310 |
|---|---|---|---|
| 273,381 | 18,809 | 292,190 | |
| (191,199) (32,306) |
(1,760) - |
(192,959) (32,306) |
|
| (223,505) | (1,760) | (225,265) | |
| 49,876 | 17,049 | 66,925 | |
| 49,876 221,569 |
17,049 14,586 |
66,925 236,155 |
|
| 271,445 | 31,635 | 303,080 |
The notes on pages 12 to 20 form part of these financial statements.
Page 9
Pump House Theatre And Arts Trust Limited (The) Balance Sheet As At 31 August 2025
| Notes FIXED ASSETS Tangible Assets 13 CURRENT ASSETS Stocks 14 Debtors 15 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 16 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 20 |
Unrestricted funds £ 48,413 |
Restricted funds £ 4,382 |
2025 Total funds £ 52,795 |
2024 Total funds £ 26,128 |
|---|---|---|---|---|
| 48,413 5,881 5,435 245,669 |
4,382 - - - |
52,795 5,881 5,435 245,669 |
26,128 5,773 6,389 278,484 |
|
| 256,985 (15,564) |
- - |
256,985 (15,564) |
290,646 (13,694) |
|
| 241,421 | - | 241,421 | 276,952 | |
| 289,834 | 4,382 | 294,216 | 303,080 | |
| 289,834 | 4,382 | 294,216 | 303,080 | |
| 1,258 292,958 |
31,635 271,445 |
|||
| 294,216 | 303,080 |
Page 10
Pump House Theatre And Arts Trust Limited (The) Balance Sheet (continued) As At 31 August 2025 For the year ending 31 August 2025 the charitable company was entitled to exempb'on from audlt nder settion 477 of the Companies Art 2006 relating to small companie5. The Members have not required the charitsble company to obtain an audlt in accordance wlth settlon 476 of the Companies Act 2006. The trustees acknowledge thelr responslbllities for complylng wlth the requlrements of the Act wlth respect to accounting records and the preparation of accounts. These accounts have been prepared and delivered In accordance wlth the prov151on5 appllcable to companSes subject to the small companies regime. On behalf of the board adle L D Farnian Trustee Date Trustee The notes on pages 12 to 20 fonn part of these finandal ststements. Page 11
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements For The Year Ended 31 August 2025
1. General Information
Pump House Theatre And Arts Trust Limited (The) is a company limited by guarantee, incorporated in England & Wales, registered number 01095244 and registered charity number 265667. The registered office is 5-6 Local Board Road, Lower High Street, Watford, Hertfordshire, WD17 2JP.
2. Statement of Compliance
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
The charitable company is a Public Benefit Entity as defined by FRS 102.
3.2. Going Concern Disclosure
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.
3.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3.4. Incoming Resources
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.
3.5. Resources Expended
Expenditure is recognised when a liability is incurred, it is probable that the liability will crystallise and can be measured reliably.
Page 12
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
3.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Reducing Balance 20% per annum Plant & Machinery Reducing Balance 25% & 12.5% per annum Fixtures & Fittings Reducing Balance at 25% 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.
3.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the firstin, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
3.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.9. Financial Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method.
3.10. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
3.11. Pensions
The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
Page 13
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
4. Income from Donations and Legacies
| 2025 Unrestricted Restricted Total funds funds funds £ £ £ Donations and gifts 17,526 - 17,526 Grants 23,070 - 23,070 40,596 - 40,596 2024 Unrestricted Restricted Total funds funds funds £ £ £ Donations and gifts 34,716 18,809 53,525 Grants - - - 34,716 18,809 53,525 5. Income from Charitable Activities 2025 2024 Unrestricted funds £ Unrestricted funds £ Theatre & Arts Activity: Income from charitable activities 205,596 164,726 Bar Activities: Income from charitable activities 64,337 69,629 269,933 234,355 6. Investment Income 2025 2024 Unrestricted Unrestricted funds funds £ £ Bank interest receivable 4,837 4,310 7. Net Income/(Expenditure) The net (expenditure)/income is stated after charging/(crediting): 2025 2024 £ £ Depreciation of tangible fixed assets - owned 13,378 6,356 |
Unrestricted funds £ 17,526 23,070 |
Restricted funds £ - - |
2025 Total funds £ 17,526 23,070 |
|---|---|---|---|
| 40,596 | - | 40,596 | |
| Unrestricted funds £ 34,716 - |
Restricted funds £ 18,809 - |
2024 Total funds £ 53,525 - |
|
| 34,716 | 18,809 | 53,525 |
Page 14
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
8. Analysis of Expenditure
| Theatre & Arts Activity Bar Activities Theatre & Arts Activity Bar Activities |
Activities undertaken directly (see note 9) £ 130,703 34,171 |
Support costs (see note 10) £ 159,356 - |
2025 Total £ 290,059 34,171 |
|---|---|---|---|
| 164,874 | 159,356 | 324,230 | |
| Activities undertaken directly (see note 9) £ 66,306 32,306 |
Support costs (see note 10) £ 126,653 - |
2024 Total £ 192,959 32,306 |
|
| 98,612 | 126,653 | 225,265 |
9. Direct Costs
| Cost of goods sold Employee costs General administration Irrecoverable VAT Other |
Theatre & Arts Activity £ - 43,851 - 15,260 71,592 |
Bar Activities £ 26,669 - 7,502 - - |
2025 Total £ 26,669 43,851 7,502 15,260 71,592 |
|---|---|---|---|
| 130,703 | 34,171 | 164,874 |
Page 15
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
| Cost of goods sold Employee costs General administration Other 10. Support Costs Premises expenses: Rent Rates Light and heat Water rates Cleaning Security costs General administration: Repairs, renewals and maintenance Insurance Printing, postage and stationery Business development & marketing costs Cafe expenditure Telecommunications and data costs Accountancy fees Professional fees Royalties and licence fees payable Bank charges Sundry expenses Depreciation: Depreciation |
Theatre & Arts Activity £ - 40,759 - 25,547 |
Bar Activities £ 27,124 - 5,182 - |
2024 Total £ 27,124 40,759 5,182 25,547 |
|---|---|---|---|
| 66,306 | 32,306 | 98,612 | |
| 2025 Theatre & Arts Activity £ 9,838 366 17,762 542 4,871 140 33,600 10,914 986 47,573 697 862 6,674 271 3,169 5,038 2,675 13,378 |
|||
| 159,356 |
Page 16
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
| Premises expenses: Rent Rates Light and heat Water rates Cleaning Security costs General administration: Repairs, renewals and maintenance Insurance Printing, postage and stationery Business development & marketing costs Telecommunications and data costs Independent examiner's fees Accountancy fees Professional fees Royalties and licence fees payable Bank charges Sundry expenses Depreciation: Depreciation |
2024 Theatre & Arts Activity £ 9,121 231 17,771 777 5,186 123 26,664 9,058 570 38,662 854 1,750 1,381 223 3,049 3,811 1,066 6,356 |
|---|---|
| 126,653 |
11. Staff Costs
Staff costs were as follows:
| taff costs were as follows: | ||
|---|---|---|
| Wages and salaries Other pension costs |
2025 £ 43,837 14 43,851 |
2024 £ 40,759 - |
| 40,759 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
12. Average Number of Employees
Average number of employees during the year was: 4 (2024: 4)
Page 17
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
13. Tangible Assets
| Land & Property Leasehold £ Cost As at 1 September 2024 107,832 Additions 34,202 As at 31 August 2025 142,034 Depreciation As at 1 September 2024 87,209 Provided during the period 10,965 As at 31 August 2025 98,174 Net Book Value As at 31 August 2025 43,860 As at 1 September 2024 20,623 14. Stocks Finished goods 15. Debtors Due within one year Trade debtors Prepayments and accrued income VAT 16. Creditors: Amounts Falling Due Within One Year Trade creditors Other creditors Accruals |
Land & Property Leasehold £ 107,832 34,202 |
Plant & Machinery £ 67,261 - |
Plant & Machinery £ 67,261 - |
Fixtures & Fittings £ 48,210 5,843 |
Total £ 223,303 40,045 |
|---|---|---|---|---|---|
| 142,034 | 67,261 | 54,053 | 263,348 | ||
| 87,209 10,965 |
63,869 424 |
46,097 1,989 |
197,175 13,378 |
||
| 98,174 | 64,293 | 48,086 | 210,553 | ||
| 43,860 | 2,968 | 5,967 | 52,795 | ||
| 20,623 | 3,392 | 2,113 | 26,128 | ||
| 2025 £ 5,881 2025 £ - 4,711 724 5,435 2025 £ 1,138 6,117 8,309 15,564 |
2024 £ 5,773 |
||||
| 2024 £ 1,375 4,445 569 |
|||||
| 6,389 | |||||
| 2024 £ 2,213 5,717 5,764 |
|||||
| 13,694 |
Page 18
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
18. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Not later than one year Later than one year and not later than five years Later than five years |
2025 £ 9,835 39,340 137,690 186,865 |
2024 £ 9,835 39,340 147,525 |
|---|---|---|
| 196,700 |
19. Pension Commitments
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £14 (2024: £0).
At the balance sheet date contributions of £0 were due to the fund and are included in creditors.
20. Movement in Funds
| Unrestricted funds General: General unrestricted fund Restricted funds General restricted fund Proud Watford restricted fund Total restricted funds Total funds |
As at 1 September 2024 £ 271,445 28,299 3,336 |
Income £ 315,366 (1,422) 1,422 |
Expenditure £ (322,769) 2,039 (3,500) |
Transfers £ 28,916 (28,916) - |
As at 31 August 2025 £ 292,958 - 1,258 |
|---|---|---|---|---|---|
| 31,635 | - | (1,461) | (28,916) | 1,258 | |
| 303,080 | 315,366 | (324,230) | - | 294,216 |
...CONTINUED
Page 19
Pump House Theatre And Arts Trust Limited (The) Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
�����������������������������
| Restricted funds General restricted fund Proud Watford restricted fund Total restricted funds Total funds Unrestricted funds General: General unrestricted fund |
14,586 - 14,586 236,155 As at 1 September 2023 £ 221,569 |
5,834 7,879 12,975 (9,639) 18,809 (1,760) 292,190 (225,265) Income Expenditure £ £ 273,381 (223,505) |
28,299 3,336 271,445 As at 31 August 2024 £ |
|---|---|---|---|
| 31,635 | |||
| 303,080 |
Within Restricted Funds contains income and expenditure dedicated to the running of the 'Proud Watford' project within The Pump House Theatre & Arts Trust.
21. Transactions with Trustees
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 (2024: Nil).
22. Related Party Disclosures
During the year, The Pump House Theatre and Arts Trust Limited had purchases of £2,595 (2024: £Nil) with companies under common control.
23. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 20