REGISTERED COMPANY NUMBER: 01114273 (England and Wales) REGISTERED CHARITY NUMBER: 266038 Report of thè Trustees and Unauditéd Financial Statements for the Year Ended 31 March 2026 for BATH ARTS WORKSHOP LIMITED Richardson Swift Chartored A¢counlanls 11 Laura Pla¢e Bath BA2 4BL
BATH ARTS WORKSHOP LIMITED Contonts of the Financial Statemonts for the year ended 31 March 2025 Page R@port of the Trustees Independent Examine*s Report Statement of Financial Actlvltles Balancè Sheet Notes to the Financial Statements 9 10 14 Detailed Statement of Financlal Activities 15 10 16
BATH ARTS WORKSHOP LIMITED Report of the Trustoes for the year ended 31 March 2025 The Irusle8s, who are also directors for the purposes of th6 Companies Act 20[. present their report with the financial stslements of the charity lor the year ended 31 March 2025. The Iiuslees have adopted the provisions of Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and alms The principal objective of the company is lo promote, encourage and inciease the appreciation and underslanding by tho general public ol the arts gènerally, and promote edu¢alion in all seclions of the Community of both cullural and crèative arts. This is achieved primarity though the perforniances of The Natural Theatre Company la trading namel and educational WOFk5hops. Page 1
BATH ARTS WORKSHOP UMITED Reportof tho TYust8es for the yoar ended 31 March 202S OBJECTIVES AND ACTIVITIES Signilicant act5vitles The number of performances incr8ased this year. e8pecially In the laller half of the year after th6 arrival of a new government with a new plan for the economy. We invested more training and creative development for our actors this year and we also improved our costume and props stock. The signrfKant successful was the transfer ol The Truth About Harry Beck for a 4-monlh run into The London Transport Museum in London's Wesl End. We were given a legacy donation from Creativity Works who ceased trading. The donation was lo ensure the RslOck Festival continued for another 2 years. Highlight gigs.. - Roman Baths performances every day plus new Roman Baths speeches The Truth About Harry Beck resKJency al The London Transport Museum with a h¢yJl of fabulous 4 star reviaws Rad51ock Fayre {Ihis year run by ourselves) Glastonbury Festival - Ascot Races Party In The Cty Bath Bath Spring Fayre Midsomer Norton Mayday Evening Explorers SEN evening at Roman Balhs - Number One Roy81 Crescent -Three Georgians at Thts Pump Room Bath Spa Uni Graduation Manchester Street Thèatre Festival Gothenburg Feslkval - GEM Conference - Bath Autumn Fayre - Bath in Blo(Im The Business Exchange Awards Parade Gaidens Wilderness Festival Jane Austen Festival Lost & Found Walking Tour Christmas parties Bath Christm88 Market gigs. - A Christmas Cracker ran for 2 week$ at The Rondo - Three 3 weeks of a Roman frcAn The Baths at The Markell Participation., SEN provision continued with three new individual students who have funded their work wilh us privately. as local authorities would not foot the bill Radslock Fayre was run solely by us in connection with a number of other education projects in the Somer Valley Diversions performed al Glastonbury Festival onco again this year to great acclaim and we are looking 81 booking more f8slivals for next year. Development Work.. We started paying pensions for 811 our performers who opt in We undertook a programmg of training and dev@lopmenl with uur aclors, resulllng in some new ideas and 8n understanding of shared values and compassion within the team Public bènefit The charity objectives and aims are perfomied with regard lo the Charity Commission guidance on public benefit. Soclal Investments These were received from.. performan¢e fges donations from local business and Imsls building hire. Page 2
BATH ARTS WORKSHOP LIMITED Report of the Trusteeg for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE strategies stralegi&s employed to achieve the objectives.. Continued support of several community and education projects, including youth Ihealres and work experience weeks for young people - The hire of the sludio, workshop and office sp8¢8 Increased Twitter, Facebook and Inslagram activity Future plans Our future plans are detailed in our business plan for 2023.6 To make the company more environmentally friendly, through improving the building insulation and reducing power usage,. by recycling and re-using props and coslurnes., by using shared transport as often as possible - Develop new performances Continue lo develop educalionlparticipalion strands Create projects lo sell directly lo the general public To reach new clients through long-lerm business relationship d@v@lopmenl - To continually review the success of the current business plan. FINANCIAL REVIEW Financlal positlon The financial slalements of the charity for the year ended 31 March 2025 show a deficit of £8,380. After taking inlo account all sourc8s of income. and not including the depreciation of the building, there was a of surplus of £5,318. During the year. the comp8ny recèived £28,056 in grants and donations, which will be used towards the Radstack Fayre. The Iiustees continue lo actively review and consider all funding options and the Board has implemented strategies lo match income to costs lo secure the long term futur@ of the Company. Investment pollcy and objectives The chaiily has limited reserves and these are generally heKI in accounts which are readily accessible. The Irusle@s are, however, mindful ol their respu)nsibilrties and geek to obtain the best returns available within th8 context of such a policy. The charty owns the freehold of the building from which il operates. The b4Jilding 15 shown as a designated fund in Ihe accounts lo distinguish il from readily available funds. Reserves policy The Iruslees have decided that £80,000 should be kept in reserve al all limes as a contingency. This figltre breaks down as follows., £45,000 lo cover maintenance of essential services, £15.OUO lo support the cash ttow of the charity and £20,000 for unplanned c108ure, to meet pay and redundan¢y costs. This Re8erves Policy was reviewed for this financial year. At the end gf the year. the charity had unrestricted nel current assets of £845.554. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by ils goveming (iocumenl, a deed of Irusl and conslilules an unincorporated charity. The charity is controlled by its goveining documént, memorandum and articles of association, and constilules a limited company. limi18d by guarantee, as defined by the Companies House Act 20(E. Page 3
BATH ARTS WORKSHOP LIMITED Report of the Tru$te8s for the year •nded 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisalional structure Trustees arè appointed by the boaTd of tru8lee8 and normally servè for a period of three years. at the en¢J of which lime they may seek re-appoinlmenl. The minimum number of Iruslees la quorum) is three and th8 maximum thirty. Trustees agree the broad slralegy for the company and delÈgale day lo day 8dminislralion and implemenlalion lo the artistic director. The trustees keèp the skill requirements of the board under review. New ITuslees may be sought by open advettisemenl or through dialogue with candidates wilh relevant expertlsg. Selection of new members is a matter for the existing board. On appoinlmenl, new members are given an inlioduclion lo the work of the company and provided Wbth informalitsn atK)ul their role and charily law. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01114273 (England and Wales Registered Charity number 0266028 Rogistefed oflice Widcomb8 Inslilule Widcombe Hill BATH BA2 6AA Trustaes APSBorn J S Herring J T Walters J Bennelt {iesigned 25 May 20251 J A W Butterworth J E Warren {appoinled 4 Novembei 2025} Company Secretary A P Buiden Indèp8nd8nt Examiner Richardson Swift Audit Ltd 11 Laura Place Bath BA2 4BL Approved by order of the board of trustees on . lty.I'L and signed on its behalf by.. A P S Born- Trustee Pa90 4
Indopend•nt Examiner's Report to the Trustees of Bath Art$ Workshop Lim5ted Independent examln?r's report to the trustees of Bath Arts Workshop Limlted I'the company'l I report to the chaiity Iruslees on my examination of the accounts of the Company for the y8ar ended 31 Mar¢h 2025. Re$ponsibllities and basls of report As the charity's Iruslees of the Company land also ils directors for the purposes of company lawl you are responsible lor the preparation of the accounls in accordance with the Tequiremenls of th8 Companie5 Act 20061.lhe 2006 Act'i, Having satisfied myself Ihal the accounts ol the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of your charily's accotjnls as ¢arried out undei Section 145 of the Charities Act 2011 I'lhe 2011 Acl'}. In carrying out my examination I have followed the Directions given by the Charity Commission under Secllon 145{51 Ibl of the 2011 Act. Independent examiner's 8t8t8m8nt Since your charity's gross income exceeded £250,000 your examiner musl be a member of a listed body. I can confiim that l am qualified lo undertake the examination becaus8 l am a member of the Inslilule of Chartered Accountants in Et)gl8nd and Wales, which is one of Ihe listed bodies. I have completed my examination. I confimi Ihat no matters have come lo my attention in conneolion wilh th8 examination gDiin9 me cause lo believe.. accounllng records were not kept in respect ol the Company as required by SeclHJn 386 of the 2006 Act., or Ihe accounts do not accord with those records. or the accounts do not comply with Ihe accounting requiremenls ol Section 396 of the 2006 Act other than any requiremanl that the accounts give a true and fair view which is not a malier considered as part of an independent examination", or the accounts have not been prepared in acGordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir¢land {FRS 10211. I have no concerns and have come across no other motlers in connection with the examination to which allènlion should be dr8wn in this report in order to enab a prop understanding of the accounls lo be reached. Calheiine Etlwards Richardson Swift Chartered A¢¢ouNlants 11 Laura Place Bath BA2 4BL Dale.. Page 5
BATH ARTS WORKSHOP LIMITED Statem8nt of FinancS8l Activitiey for the yèar ended 31 March 2025 2025 Tot81 funds 2024 Total funds Unrestricted Reslri¢led funds funds Notes INCOME AND ENDOWMENTS FROM Dongtions and legacies 21,999 15,551 37,550 29,242 Charitable actlvities Charitable 309,608 310,548 260,750 other trading aclivili88 Investment income 39,427 1.111 39,427 1,111 97,337 945 Total 372,145 388 836 388,274 EXPENDITURE ON Ralsing funds 12,489 12,489 12.471 Charllable actlvities Chafitable 366,380 12,023 378,403 387,000 Other 6,124 1,130 Total 384.993 12.023 397 016 400 601 NET INCOMEIIEXPENDITUREI Transfers between funds 112,8481 114770 4,468 114,770} 18,3801 (12,3271 Net movement in funds 101.922 {110.302) 18,3801 {12.3271 RECONCILIATION OF FUNDS Total funds brought fowward 753,126 114.770 867,896 880,223 TOTAL FUNDS CARRIED FORWARD 855,048 4,468 859 516 867.896 The notes form part of thèsè financial slalements Pa9e 6
BATH ARTS WORKSHOP LIMITED Balance Sheet 31 DAarch 2025 2025 Total funds 2024 Total funds Unresliicled Reslriclèd funds funds Notes FIXED ASSETS Tangible assets 702.266 702,266 715,632 CURRENT ASSETS Debtors Cash al bank and in hand 47,353 120 114 47,353 136.582 34,163 130.342 16.468 167,467 16.468 183.935 164,505 CREDITORS Amounts falling due wilhin on8 year 114,6851 112,0001 126,6851 {12.241} NET CURRENT ASSETS 152,782 4,468 157 250 152264 TOTAL ASSETS LESS CURRENT LIABILITIES 855,048 4,468 859,516 867,896 NET ASSErs 855.048 4,468 859,516 867,896 FUNDS Unresliicted funds RoStri¢ted funds 855,048 4468 753.126 114.770 TOTAL FUNDS 859 516 867,896 Th8 charitable company is enlilled lo exemption from audit under Section 477 01 the Companles Act 2Q06 for the year ended 31 March 2025. The members have not r8quired the Company lo obtain an audit of ils fin8ncial slalements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities for la} ensuring that the chafilable company keeps aecounting records that Comp with Sections 386 and 387 of the Companies Act 2006 an Ibl preparing financial slalemenls which giv8 a true and fair vlew of the slate of affaiis of the charitabl8 company a8 8t the end of each financial yeay and of ils surplus or deficit for oach financi81 year in accordance with the r@quiremenls of Sections 394 and 395 and which otherwise comply with the requirements ol the Gompanies Act 2006 relating to financial slalemenls, so far as applicable lo the charitable company. The not8s form part of these financial slalemenls Page 7 conlinLJed...
BATH ARTS WORKSHOP LIMITED Balance Sheet - continued 31 March 2025 Thèse financial stalernents have been prepared in accordance with the provisions applicable lo charitable mpanies subject to the small companies re9ime. The financial slalemenls were approved by the Board of Trustees and aulhorised frir issue on .its.., ls.l&....... and were signed on its behalf by.. A P S Born - Trustee The notes form part of these financial statements Page 8
BATH ARTS WORKSHOP LIMITED Notes to the Financial Statements for the year endod 31 March 2025 ACCOUNTING POLICIES Basis of preparing the flnan¢ial statements The financial slalemenls of the charity, which a public benefit enlily under FRS 102, have been prepared in accordance with th& Chacilies SORP IFRS 102} 'Accounling and Reportin9 by Char¢ties'. Slalemenl of Recommended Practice applicable to chartiies preparing their accounts in accordanGe with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicabte in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalemenls have been prepared under the historical cost convention. Income All iome is recognised in the Statement of Financial Activities once the charity has entillemenl lo the funds, it is probable that the income will be receivèd and the amount can be m6asured reliably. Expenditure Liabilitie5 are recognised as expenditure as soon as there is a legal or Gonslructive obligation Committing the charity lo that 6xpendiluTe. it is probable that a transfer of economi¢ benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an acciuals basis and has b88n classified under headings that aggregate al cost related to the category. Where costs cannot be directly attribut8d lo particular headings they have been allocated lo activities on a basis consistent with the use of re80urces. Tanglble fixod assets Depreciation is provided at the following annual rale8 in order lo write off each asset over ils eslimaled useful life, Improvements to property Motor vehicles Computer equipment Freehold property is deprociated over SO year3 down lo 8 residual value of £2(Ki.000. 2/ts on cost 150h on reducing balance 250A on redu¢ing balance Taxation The charity Is exempl from lax on its charilable aclivilies. Fund accounting Unreslricled funds Can be used in accordance with the ch8rilable objectives at the discretion of the trustees. Reslrided funds can only be used for partul8[ reslricled puiposes within th@ objects of the charlly. R6slriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of eaGh fund is included in the nol&s lo the financial slalements. Pgnsion costs and other post-retirernent benefits The charity operates a defined contribution pension scheme. Contributions payabl8 lo the charity's pension scheme are charged lo the Statement of Financial A¢livili8s in the period lo which they relate. Company status The company is a company limi18d by guarantee. The members of the company are the Trustèes named on page 4. In the event ol the company bein9 wound up, the liability in respect ol the guarantee is limited lo £10 per membei of the Gompany. Fage 9 Continued.
BATH ARTS WORKSHOP LIMITED Notes to the Financial Statements . continued forthe yearended 31 Ma¥¢h 2025 OTHER TRADING ACTIVITIES 2025 2024 Sundry income Theatre tax relief 32,395 7,032 67,008 30,329 39,427 97,337 INVESTMENT INCOME 2025 2024 Dewsil acKount interest 1,111 945 TRUSTEES. REMUNERATION AND BENEFITS There were no Ifuslees, remuneration or other benefits foy the year ended 31 March 2025 noT for the year ended 31 March 2024. Trustees. expense$ There were no Iruslees, expenses paid for the yeaf ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 23,396 5,84 29,242 Charitable activitie5 Char¢table 260,750 260,750 Other trading activities Investment income 97,337 97,337 945 Total 382 428 5.846 388,274 EXPENDITURE ON Raising funds 12.471 12,471 Charitable actlvitie5 Charitabl8 373,09) 13,910 387,000 Other Total 386,691 13.910 400 601 NET INCOMEIIEXPENDITUREI {4,2631 18,0641 112,3271 RECONCILIATION OF FUNDS Total funds brought fDtward 757.389 122,834 880,223 Pa9e 10 continued...
BATH ARTS WORKSHOP UMITED Notes to the Financlal Statements - Continued for the year ended 31 March 202S COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACnVITIES - contSnued Unreslficled Reslricled funds funds Total funds TOTAL FUNDS CARRIED FORWARD 753,126 114,770 867,896 TANGIBLE FIXED ASSETS Improvements Freehokl property Motor vehicles Computer equipment propety Total8 COST Al 1 April 2024 Additions 650.000 234,908 25,985 123,245 2,015 1,034,138 2.015 Al 31 March 2025 650 000 234,908 25,985 125 260 1,036.153 DEPRECIATION Al 1 April 2024 Charg8 for year 126.000 53,654 16,864 1,369 121,988 314 318.506 15,381 Al 31 March 2025 135,000 58,352 122 302 333,887 NET BOOK VALUE At 31 March 2025 515,000 176,556 7.752 702.266 At 31 March 2024 524,000 181.254 9,121 715.632 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Olh8r debtors Prepaymenls 19.538 17,764 16,529 10,732 47,353 Page11 conlinued...
BATH ARTS WORKSHOP LIMITED Notes to the Flnanclal Statemènts- continued for the year ended 31 March 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Taxation and social security Other creditors 1,469 4,631 2D,585 2,042 4.418 5.781 MOVEMENT IN FUNDS Net movement in funds Transf8rs between funds Al 31.3.25 Al 1.4.24 Unrestricled funds General fund 753,126 112.8481 114,770 855,048 Restrlctgd funds Resliicled funds Radslock Fayre 114,770 {114,770) 4,468 114,770 114,770 4,468 TOTAL FUNDS 867,896 859 516 Nel movement In funds, included in the above are as follows: Incoming resources Resources expended Movement in fvnds Unrestricted funds General fund 372,145 {384,993} 112,8d81 Restricted funds Radslock Fayie 16,491 112,023} 4,468 TOTAL FUNDS 388.636 Comparatlves for movement in funds Net movement in funds Al 31.3.24 At 1.4.23 Unrestrlcted funds General fund 757,389 14.263) 753,126 Rostricted funds Reslricled funds 122,834 18,064) 114,770 TOTAL FUNDS 880 223 12 327) 867 896 Paga 12 continued.
BATH ARTS WORKSHOP LIMITED Note5 to the Flnancial Statements - contlnued for the year ended 31 March 2025 MOVEMENT IN FUNDS- contlnued Comparative nel movement In funds, included in the above are as follows.. Incoming resotjrces Resources expendad Movement in funds Unrestrlcted fund$ General lund 382.428 1386.6911 (4,2631 Restrlctod funds Reslricled funds 5,846 {13,9101 TOTAL FUNDS 388 274 4LX),6011 12 3271 A current year 12 months and prior year 12 months comblned position is as follows.. Nel Transfers movement between in fund8 fund8 Al 31.3.25 Al 1.4.23 Unrestricted funds General fund 757,389 117,1111 114,770 855,048 Restrict8d funds Reslricled funds Radslock Fayre 122.834 {B,064} 4,468 1114,7701 122 834 3.596 114.770 4468 TOTAL FUNDS 880.223 20 707> 859.516 A current year 12 months and prior ytrar 12 months combined nel movement in funds, included in Ihe 8bove are as follows.. Incoming resources Resourc&s expended ThAovemenl in funds Unrestrictad funds General fund 754,573 1771,8841 117,1111 Restrlctod funds Reslricled funds Radslock Fayre 5,846 113,9101 12,0231 {8,0641 25.933 TOTAL FUNDS 776 910 797,6171 20 7071 Transfers botween funds In previous years there w88 a reslricled fund rElating lo the studio developrnenl. The trustees have reassessed in the reporting period. Given that the studio is let lo raise funds lor the wider charitable purpose there are no longer re51ri¢tions. As a result the previously restricted fund of £114,770 8131 MarGh 2024 has been moved lo unrestiicled funds. Page 13 continued...
BATH ARTS WORKSHOP LIMITED Notes to the Financlal Statom¢nts - Continued forthe year ended 31 March 2025 MOVEklENT IN FUNDS- continued Transfers between funds - contlnued Similarly in Pfevious years the Freehold Property was included in a designated fund within unreslricled funds. The property is used as the administrative baso for the charity from which il operates lowards achieving ils charilable objectives wilhoul any restrictions. On this basis the designated fund is no IDnger reported separately in the financial 8lal6m@nls. 10. REL4TED PARTY DISCLOSURES There were no relaled party1l8nsaclions for the year ended 31 March 2025. Page 14
BATH ARTS W¥ORKSHOP LIMITED Detailed Statement of Financlal Actlvitles for the year ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Grants 21,033 2,917 26.325 37,550 29,242 Other trading activities Sundry income Theatre lax relief 32.395 7,032 87,008 30.329 39.427 97.337 Investment Income Deposit account interest 1.111 945 Charitable activities Perfoimance fees 310.548 260,750 Total incoming resources 388,636 388.274 EXPENDITURE Ralsing donations and legacies Adminislralion staff fee 12,489 12.471 CttaritoblB activities Adminislralion staff fee Soctal security Pensions Rates and water Insurance Light and heal Telephone Postage and 8lalionery Advertising Performer fees Other production fees Costume and props Misc runnitw Cogts Travelling Ac¢omodalion Subsislence Vghicle mainlenanco Vehick insurance Sundries Premises expenses Freehold property ImpTovemenls lo property Carried forward 83,108 2,907 1,998 717 10,889 7,487 1.911 1,070 2.630 195,907 7,736 7.904 2,889 7.819 11.282 3,785 1,488 1,888 604 8,303 9,000 4,698 376,020 91,456 3,782 2,161 705 13,424 8,874 2,122 2,147 5,309 158,143 21,187 13,496 2,051 5,949 4.561 1,435 2,245 1,763 2,634 26,976 9,000 4,697 384,117 This page does not form patt of the slalulory financi81 slalements Page15
BATH ARTS WORKSHOP LIMITED Detailed Statement of Flnanclal Actlvltles for the year ended 31 March 2025 2025 2024 Chayltable actlvlties Brought fotward Fixtures and fittings Motor vehicles Bank interest HMRC interest 376,020 314 1,368 602 384,117 419 1,810 556 378,310 386,702 Other Accountancy Independent &xaminalion Bookkeeping 2,923 950 2,251 630 500 6,124 1.130 Support costs Governance costs Legal and professional fees 93 298 Total resource8 expended 397 016 400 601 Net expenditure 18,3801 {12.327) This page does not form part of the slatulory financial statemenls Page 16