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:
- 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, forums and operating an open access policy Reduce any impact of our activities on the environment
- 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:
- 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”, jazz music, public access groups Weekly children 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
- Running the Proud Watford project
- Increase art exhibitions
- 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:
- 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 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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