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← Catalyst Science Discovery Centre And Museum Trust Limited

2025-03-31-accounts

Charity Registration No. 518850

Company Registration No. 02115913 (England and Wales)

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

ANNUAL REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

PM+M Solutions for Business LLP Chartered Accountants New Century House Greenbank Technology Park Blackburn Lancashire BB1 5QB

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Ms Stephanie Davies Mr Howard Hopwood Dr Diana Leitch MBE Mrs Melissa Lord Dr Michael Pitts Dr Donald Westwood Mr Noel Hutchinson Mrs Jennifer Wilson Hart Mr Jay Wiegand Mr Kevan Wainwright Mr Hugh Dowding Mr Bryan Davies Mr Timothy Hughes Mr James Tiernan

(Appointed 8 October 2024) (Appointed 24 February 2026)

Charity number (England and Wales) 518850

Company number 02115913

Registered office

Gossage Building Mersey Road Widnes Cheshire WA8 0DF

Independent examiner

PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn Lancashire BB1 5QB

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 22

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the trust's Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Catalyst Science Discovery Centre and Museum Trust Limited, Mersey Road, Widnes, Cheshire WA8 0DF, “Catalyst”, is a registered charity (No: 518850) and company (No: 2115913) limited by guarantee. Its registered office is shown on the company information sheet. The Company changed its name from Halton Chemical Industry Museum Trust Limited on 16 June 2008. The present trustees who served during the year are listed on page 4 and details of any external advisers are noted on the company information sheet. The Company was governed by its Memorandum and Articles of Association adopted on 2 June 2008. Updated Articles of Association were adopted by the Company on 26 April 2022.

Objectives and activities

The Charity’s Objects in the 2022 Articles are specifically restricted only for “the public benefit to raise awareness of and increase public knowledge of biochemistry and the chemical sciences and other related sciences and their materials, processes and products with a particular emphasis on education of young people through the development and maintenance of a science centre/museum – placed within a historical context and with particular reference to the locality”. The aim is to promote, organise, sponsor and inaugurate such activities and functions as may from time to time be considered necessary or desirable for the attainment of all or any aspects of the above Objects'.

Therefore, the principal activity of Catalyst is to inform, educate and inspire the widest audience about the relevance of chemistry and STEM (Science, Technology, Engineering and Maths) in general with a particular emphasis on education of young people.

Catalyst also holds extensive archives in various media for the UK Chemical Industry (including ICI, Brunner Mond and Peter Spence) and offers a heritage experience around its buildings but especially through its ‘Birth of an Industry Gallery’, and the ‘Baker Gallery’ which celebrates the history and modern-day uses of chlorine produced in the Halton area.

Our vision is to be a premier visitor attraction, recognised as the best science discovery centre dedicated to chemistry and a unique museum of the chemical heritage of NW England.

Our strategic objectives are; ensuring financial sustainability, maintaining Catalyst as a visitor attraction, delivering an exciting programme for Education and schools incorporating new themes, developing access to our heritage offer and providing an enhanced enquiry service, and broadening our audience appeal to attract a wider range of visitors.

Public benefit, aims and intended impact

In meeting our objectives, the Charity’s public benefit aim is to increase the public knowledge of chemical sciences and the chemical industry through the centre/museum and workshops. In setting our objectives and planning our activities, the Trustees have paid due regard to the Charity Commission’s general guidance on public benefit.

Achievements and performance

This report outlines the major achievements, challenges, events and developments within Catalyst Science Discovery Centre and Museum Trust Limited during the past 12 months (April 2024 to March 2025).

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Exhibitions

Among the many exhibitions displayed in the free to access area, Catalyst opened an exhibition from artist Shaun Smith and wildlife artist Kerry Newall. This was followed at the end of the year with a display from Cheshire Life.

Education Programme

During the financial year 2024 - 25 we welcomed 7,355 students (7,700 last year) and delivered 414 educational activities (405 last year).

We launched our BSL interpreted monthly programmes, thanks to funding from RSC and The Chemical Business Association. In addition all staff had basic BSL training.

During the summer we hosted Home Zero who ran additional activities alongside our public programme enhancing the offer at Catalyst.

We held our first Teachers Conference, which was a great success. 30 Teachers signed up from 25 schools. (out of these; 5 schools had never previously visited, 7 schools had been in the last two years and 13 schools had visited in the last five years) and only 6 Teachers had visited with a class before.

During October half term we delivered busking activities within our gallery.

We launched a new exciting science show called Ferocious Fireworks.

We welcomed 357 KS3 pupils, 11 college students and 74 industry partners from 16 local chemical industries for our 2025 Chemistry at Work Week.

Funded Projects

The National Lottery Heritage Fund successfully awarded the Synergy Project. The bid for over £1million will see the refurbishment of two floors of the centre, the delivery of an extensive activity plan and support the digitisation of the archive, all with the mind to connect people to our heritage stories in a new and meaningful way. The permission to start process was started in October 2024.

Catalyst, in conjunction with Halton Borough Council was successful with an application for funding from Arts Council England, for roof repair work totalling over £300,000, with the project completed in November 2024.

People

Geoff Moss joined as Visitor Services Manager in April 2024. He has supported change, improvement and development to the visitor welcome and operation of the site.

Tim Hughes joined the board and leads the Project Steering Group for the Synergy Project.

Our Volunteers, who support our Education team, Archive work, and Maintenance activity, have continued to grow through the year. We are indebted to this dedicated group of people who support our operational activity so well.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Heritage / Archive

Catalyst reached a milestone with our digitisation programme and have now processed over 100,000 digitised documents and images.

Our archive collection has continued to grow with regular donations of material from companies and individuals.

In March 2025 Catalyst rescued a significant amount of photographic material, mainly negatives from a disused building on the former ICI Site in Runcorn. We are delighted to acquire this resource which spans five decades of operation and would certainly have been lost forever. This archive has social, local and national significance.

Donations, grants and sponsorship

Industrial and personal sponsorship has continued during the period with major support from Ineos Inovyn, Ineos Charitable Fund, Garfield Weston Foundation, Chemical Industries Association, Royal Society of Chemistry, Institute of Chemical Engineers, Veolia, Hynet, Koura, RAS ltd, Lanxess plus personal donations from Dr Diana Leitch, Mr John Blewett, Mr Paul Zuckerman and the Brunner family.

The trust remains grateful for the continued support of all its sponsors and donors.

Trading position

In the financial year 2024 – 2025 Catalyst saw visitor numbers dip from the previous year, with 33,000 guest welcomed. Nearly half of visitors had annual passes. The effect of the cost of living crisis was felt as the public had less disposable income to attend on days out and holidays. The number of schools and workshops delivered was broadly the same as previous years.

Financial review

A summary of the year’s results can be found on page 9 of the attached accounts.

During the year, the total incoming resources were £860,799 as compared to £606,234 in the previous year.

Total resources expended in the year were £905,730 as compared to £739,243 in the previous year.

The free reserves of the charity at 31 March 2025 were £141,401 as compared to £262,868 in the previous year.

Free reserves are the charity's unrestricted funds that are freely available to spend on the charity's purposes. Free reserves exclude restricted income funds of £42,473 (2024: £33,949) and tangible fixed assets with a specific net book value of £642,202 (2024: £574,190).

Reserves policy

It is the general policy of the charity that the free reserves of the charity, which have not been designated for a specific use, should be working towards a level equivalent to six months’ expenditure. In real terms this equates to approximately £380,000.

The free reserves of the charity were £141,401 at the year end. Trustees recognise this falls below the policy’s level and our objective is to restore free reserves as soon as is possible.

This is after three consecutive years of operating deficits. As at the date of this report we have satisfied ourselves that these deficits are being brought under control and that the charity can be funded for the next 12 months during which substantial improvements are forecast and which will sustain us towards the end of 2026 as our revitalised exhibition space will be fully open to visitors.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Risk Management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. A comprehensive Risk Register is maintained by the Finance & Risk sub-group, who provide detailed oversight, and reviewed at every Board meeting.

Catalyst's Trustees are responsible for the management of the risks faced by the charity. A formal review of the charity’s risk management processes is undertaken on an annual basis.

The key controls used by the charity include:

Through the risk management processes established for the charity, the Trustees are satisfied that adequate mitigation measures have been identified for the major risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Structure, governance and management

The Board of Trustees is responsible for the overall governance of the charity. The affairs of the charity are administered by a Board of Trustees, the members of which occupy the positions of directors for the purposes of the Companies Act.

The Trust has a board of trustees comprising industry executives, senior education specialists, representatives of chemical industry organisations, local historians and representatives from Halton Borough Council.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr Jennifer Clucas (Resigned 8 October 2024)
Ms Stephanie Davies
Mr Howard Hopwood
Dr Diana Leitch MBE
Mrs Melissa Lord
Dr Michael Pitts
Dr Donald Westwood
Mr Noel Hutchinson
Mrs Jennifer Wilson Hart
Dr Julian Hought (Resigned 8 October 2024)
Mr Jay Wiegand
Ms Serra Cinar (Resigned 8 August 2024)
Mr Kevan Wainwright
Mr Hugh Dowding
Mr Bryan Davies
Mr Timothy Hughes (Appointed 8 October 2024)
Mr James Tiernan (Appointed 24 February 2026)

The Trustees are responsible for the appointment of new Trustees. New Trustees will only be appointed after due consideration is given to eligibility, personal competence and specialist skills. New Trustees, when appointed, are inducted into the working of the charity by the existing Trustees.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Friends of Catalyst

Friends of Catalyst is a separate charity, which exists to support and further the work of the Trust. The ‘Friends of Catalyst’ have continued to provide both financial and other support during the year.

Other Matters

The Trustees would like to express their grateful thanks to the following organisations and individuals who have supported the Trust during the past year:

Donors:

2M Holdings Ames Goldsmith Arts Council England Ashton Chemicals Association of Science Discovery Centres (ASDC) Axiom Mr Richard and Mrs Anne Bamber Bentley family Mr John Blewett Brunner family Dr Ingeborg Buschmann Chemical Business Association Chemical Industries Association (CIA) Dr Jenny Clucas Mr A C H Crisford Dr Helen Cooke Mrs Nicky Davies Mr Hugh Dowding Elkem Silicones (Silicones last year) Engenda Friends of Catalyst Garfield Weston Foundation Mr Peter Gossage Mr Ben Gough Halton Borough Council Hawks Chemicals Mrs Jean Hodge Mr Howard and Mrs Marilyn Hopwood Hynet/Progressive Energy INEOS Charitable Fund INEOS Inovyn Institute of Chemical Engineers (IChemE) Koura Lanxess Dr Diana and Dr David Leitch Livent Meade King Robinson Mersey Gateway Mr Ian Minkley National Lottery Heritage Fund Oxkem PQ Silicas RAS Ltd

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Donors continued:

Sir Phil Redmond and Lady Alexis Redmond Royal Society of Chemistry RS Clare RSK Group Mr John Tate Viridor William Blythe Dr David and Mrs Katy Yaxley Hon Dr Paul Zuckermann

Statement of trustees' responsibilities

The trustees, who are also the directors of Catalyst Science Discovery Centre and Museum Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Hugh Dowding

Mr Hugh Dowding

Chair of Trustees

23 March 2026

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

I report to the trustees on my examination of the financial statements of Catalyst Science Discovery Centre and Museum Trust Limited (the trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the trust (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the trust’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 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 that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Dean Rodgers ACA

PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn Lancashire BB1 5QB 23 March 2026

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
144,421
273,304
Charitable activities
4
329,627
-
Other trading activities
5
113,447
-
Total income
587,495
273,304
Expenditure on:
Raising funds
6
105,911
-
Charitable activities
7
754,031
45,788
Other expenditure
12
-
-
Total expenditure
859,942
45,788
Net income/(expenditure)
(272,447)
227,516
Transfers between
funds
218,992
(218,992)
Net movement in
funds
(53,455)
8,524
Reconciliation of funds:
Fund balances at 1 April 2024
837,058
33,949
Fund balances at 31 March
2025
783,603
42,473		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
417,725
120,333
103,972
329,627
256,660
-
113,447
125,269
-
860,799
502,262
103,972
105,911
86,966
-
799,819
552,524
94,147
-
5,606
-
905,730
645,096
94,147
(44,931)
(142,834)
9,825
-
18,712
(18,712)
(44,931)
(124,122)
(8,887)
871,007
961,180
42,836
826,076
837,058
33,949		 Total
2024
£
224,305
256,660
125,269
606,234
86,966
646,671
5,606
739,243
(133,009)
-
(133,009)
1,004,016
871,007

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025

2025
Notes
£
Fixed assets
Tangible assets
14
Current assets
Stocks
15
5,901
Debtors
16
224,398
Cash at bank and in hand
291,957
522,256
Creditors: amounts falling due within
one year
17
(338,382)
Net current assets
Total assets less current liabilities
The funds of the trust
Restricted income funds
19
Unrestricted funds
20		 £
642,202
183,874
826,076
42,473
783,603
826,076		 2024
£
12,000
127,959
222,129
362,088
(65,271)		 £
574,190
296,817
871,007
33,949
837,058
871,007

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 23 March 2026

Hugh Dowding

Mr Hugh Dowding Chair of Trustees

Company registration number 02115913 (England and Wales)

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

2025
Notes
£
£
Cash flows from operating activities
Cash generated from operations
24
287,569
Investing activities
Purchase of tangible fixed assets
(217,741)
Net cash used in investing activities
(217,741)
Net cash generated from financing activities
-
Net increase/(decrease) in cash and cash
equivalents
69,828
Cash and cash equivalents at beginning of year
222,129
Cash and cash equivalents at end of year
291,957		 2024
£
(20,393)		 £
1,282
(20,393)
-
(19,111)
241,240
222,129

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Catalyst Science Discovery Centre and Museum Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Gossage Building, Mersey Road, Widnes, Cheshire, WA8 0DF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the trust 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.

In the case of the grant, evidence of entitlement will usually exist when the formal offer of funding is communicated in writing to the charity. However some grants contain terms or conditions that must be met before the charity as entitlement to the resources.

In the case of a donation, entitlement usually rises immediately on its receipt. However, some gifts may include terms or conditions which must be met before the charity is entitled to the resource is.

When terms and conditions have not been met or uncertainty exists as to whether the recipient charity can meet the terms or conditions otherwise within its control, the income should not be recognised but deferred as a liability until it's probable that the terms or conditions imposed can be met.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

A grant that is subject to performance related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for the liability insured on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance related or other condition that is limited recognition are met.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities, and those costs of an indirect nature necessary to support them.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and Buildings 4% straight line Exhibition and plant 8-20% straight line Fixtures and fittings 20% straight line

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 the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
144,421
30,002
Grants receivable for core
activities
-
243,302
144,421
273,304
Grants receivable for core activities
Institute of Chemical
Engineers
-
5,000
National Lottery Heritage
Fund
-
9,450
Royal Society of Chemistry
-
6,136
Friends of Catalyst
-
2,500
Arts Council England
-
203,766
Halton Borough Council
-
16,450
-
243,302		 Total Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
174,423
120,333
50,500
243,302
-
53,472
417,725
120,333
103,972
5,000
-
9,673
9,450
-
37,800
6,136
-
5,999
2,500
-
-
203,766
-
-
16,450
-
-
243,302
-
53,472		 Total
2024
£
170,833
53,472
224,305
9,673
37,800
5,999
-
-
-
53,472

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Admissions 329,627 256,660

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Café and catering income 79,493 97,355
Shop income 21,640 27,914
Other income 12,314 -
113,447 125,269

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Café, catering and shop expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Trading costs
Operating trading company undertaking non-charitable trading activity 50,402 46,050
Other trading activities 14,028 11,255
Staff costs 41,481 29,661
105,911 86,966

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Staff costs 376,900 316,859
Depreciation and impairment 149,729 169,325
Office administration 10,866 17,583
Insurance 9,522 8,393
Advertising 14,116 5,986
Bank charges 4,066 1,014
Motor and travel 2,356 2,009
Sundry 4,681 9,180
Project expenditure 26,986 17,082
IT 20,639 19,044
Equipment lease 4,342 1,571
Heat, light and rates 39,454 42,562
Repairs and maintenance 9,797 16,931
Professional fees 37,319 9,920
Training 3,039 1,167
Other staff costs 6,889 2,256
Other charitable expenditure 71,045 -
791,746 640,882
Share of support and governance costs (see note 8)
Governance 8,073 5,789
799,819 646,671
Analysis by fund
Unrestricted funds 754,031 552,524
Restricted funds 45,788 94,147
799,819 646,671
Support costs allocated to activities
2025 2024
£ £
Governance costs 8,073 5,789
Analysed between:
Charitable activities 8,073 5,789

8 Support costs allocated to activities

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8
Support costs allocated to activities
Governance costs comprise:
Audit and independent examination fees
Legal and professional
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets		 (Continued)
2025
2024
£
£
4,249
4,000
3,824
1,789
8,073
5,789
2025
2024
£
£
4,249
4,000
149,729
169,325
-
5,606		 (Continued)
2025
2024
£
£
4,249
4,000
3,824
1,789
8,073
5,789
2025
2024
£
£
4,249
4,000
149,729
169,325
-
5,606
5,789
2024
£
4,000
169,325
5,606

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
30
2025
£
389,276
22,419
6,686
418,381		 2024
Number
34
2024
£
326,175
15,995
4,350
346,520

There were no employees whose annual remuneration was more than £60,000.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

12 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets - 5,606

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024		 Land and
Buildings
£
226,093
214,492
440,585
76,179
8,902
85,081
355,504
149,913		 Exhibition
and plant
Fixtures and
fittings
£
£
2,030,903
457,494
-
3,249
2,030,903
460,743
1,685,670
378,451
91,461
49,366
1,777,131
427,817
253,772
32,926
345,233
79,044		 Total
£
2,714,490
217,741
2,932,231
2,140,300
149,729
2,290,029
642,202
574,190

The land and buildings are leased to the charity for a peppercorn rent by Halton Borough Council on a 99 year lease from 1 January 1989.

15 Stocks

Stocks
2025 2024
£ £
Finished goods and goods for resale 5,901 12,000

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
25,112
71,641
127,645
224,398
2025
£
42,777
20,193
51,978
223,434
338,382
2025
£
6,686		 2024
£
39,049
30,120
58,790
127,959
2024
£
21,010
30,503
4,394
9,364
65,271
2024
£
4,350

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

At 1 April Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
Association for Science and
Discovery Centres 7,748 - (3,895) - 3,853
National Lottery Heritage Fund - 9,450 (9,450) - -
Friends of Catalyst - 2,500 - - 2,500
Royal Society of Chemistry -
Chemistry at Work - 6,136 (1,840) - 4,296
Gossage Family 1,201 - (1,201) - -
Ineos Group 25,000 - - - 25,000
Dr D Leitch - 4,500 - (4,500) -
Viriidor - 6,000 (6,000) - -
Lanxness - 5,000 (5,000) - -
Gray Baxter Ltd - 1,000 - - 1,000
Institute of Chemical Engineers - 5,000 (5,000) - -
Chemical Business Association - 4,675 (4,675) - -
Various: Sponsored School
Visits - 8,827 (8,727) - 100
Arts Council England - 203,766 - (198,042) 5,724
Halton Borough Council - 16,450 - (16,450) -
33,949 273,304 (45,788) (218,992) 42,473
Previous year: At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Association for Science and
Discovery Centres 139 9,673 (2,064) - 7,748
National Lottery Heritage Fund 30,678 37,800 (68,478) - -
Friends of Catalyst 206 - (206) - -
Bitrez 3,212 12,500 - (15,712) -
Chemical Processing Services 3,000 - - (3,000) -
Royal Society of Chemistry -
Chemistry at Work - 5,999 (5,999) - -
Gossage Family 5,601 - (4,400) - 1,201
Ineos Group - 25,000 - - 25,000
Mrs K O'Brien - 10,000 (10,000) - -
Dr D Leitch - 3,000 (3,000) - -
42,836 103,972 (94,147) (18,712) 33,949

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April At 1 April Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
General funds 837,058 587,495 (859,942) 218,992 783,603
Previous year: At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 961,180 502,262 (645,096) 18,712 837,058
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 642,202 - 642,202
Current assets/(liabilities) 141,401 42,473 183,874
783,603 42,473 826,076
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 574,190 - 574,190
Current assets/(liabilities) 262,868 33,949 296,817
837,058 33,949 871,007

21 Analysis of net assets between funds

CATALYST SCIENCE DISCOVERY CENTRE AND MUSEUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Operating lease commitments

Lessee

At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
23
Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
24
Cash generated from operations
Deficit for the year
Adjustments for:
(Gain)/loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
(Increase) in debtors
Increase in creditors
Cash generated from operations
25
Analysis of changes in net funds		 2025
2024
£
£
580
651
2,030
2,465
2,610
3,116
2025
2024
£
£
(44,931)
(133,009)
-
5,606
149,729
169,325
6,099
(2,817)
(96,439)
(41,049)
273,111
3,226
287,569
1,282

The trust had no material debt during the year.