This is the annual report of the Chiswick Pier Trust for the year ended 31st March 2025 as agreed by the trustees.
It sets out the basic information about the Trust, its aims and objectives and reports on its activities and finances for the period under review. Chiswick Pier Trust is a charitable company, number 2856997, limited by guarantee with no share capital and is registered as a charity number 1026957. Charity Registered office and operational address The Pier House, Corney Reach Way, Chiswick, London, W4 2UG.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, 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).
The objectives of the Trust are to:
- Preserve and increase access to and from the River Thames, in and around Hounslow;
- Raise public awareness of the River Thames, its history, ecology and wildlife;
- Provide facilities for leisure, recreation and other charitable purposes in the local area.
The Trust manages Chiswick Pier and Pier House, on which it has two, thirty-year leases - both dated 1st November 1996 from the London Borough of Hounslow. The Pier provides permanent moorings for eight residential boats, visitors' moorings, moorings for two RNLI (Royal National Lifeboat Institution) rescue boats, the Sea Cadets' boats, and storage and access to the River for the Chiswick Pier Canoe Club. The Pier House provides accommodation for the Trust and the four core users. It has a community hall and committee room, both of which are available for hire for social, community or other use.
The Trust's core users are the RNLI, The Thames Explorer Trust (TET), Chiswick Sea Cadets, and the Chiswick Pier Canoe Club. These are charities or community organisations with similar aims to the Trust, and through which the Trust realises some of its own charitable aims.
At the year end the number of people subscribing for annual membership to our programme of talks and other benefits had increased to 113. There were 4 part time staff supporting the Trust’s activities.
In accordance with our responsibilities, we confirm that the trustees have taken into account the guidance provided by the Charity Commission on public benefit in the preparation of this report.
Major progress was made towards the resolution of negotiations with Hounslow Council of our lease renewal. In November 2024, Heads of Terms Agreements were signed for a 15-year renewal of our leases. The preparation of the new leases is in the hands of the respective solicitors, and it is hoped that these are signed this year. This will mean a doubling in rent and, coupled with the departure of the RNLI in mid 2026, will present a significant financial challenge. Nevertheless, the Trust is finally in a position to progress with the ambitious plans it has for the future.
The Trust continued and expanded its programme of charitable activities through support of its resident charities and increased its support for children from Hounslow state schools taking part in the TET programme.
Events included a highly successful Party on the Pier in July, drink and food stalls for the Boat Race in March and Great River Race in September. The ever-popular cruises took place plus additional cruises for Hounslow charities. Urban Sketchers returned to the Pier and the Trust ran another Walk Tall event plus its programme of eight evening talks from September to May. Water colour workshops and nature walks were also held and well attended.
The Trust continued its connections with the Council, taking part in Area Forums and other Council initiatives. Maintenance of the Pier and Pier House was ongoing with progress being made on the repair needed to the campshed. Forge and Orchard's coffee bike went from strength to strength and income received from that made a valuable contribution to CPT’s charitable budget.
The running of CPT has undergone two big changes with the retirement of Anne Gill, the Trust officer in October 2024. Anne gave 13 years of invaluable service to the Trust. The Trust made the decision to expand the role to that of General Manager and David Rust was appointed in December 2024. The Trust would like to thank Anne for her huge contribution and welcome David in his new role.
Discussion has been ongoing for the renovation and development of the Pier House with trustee meetings and brainstorming sessions taking place. Plans are gradually coming together. The Trust has commenced a strategy for future charitable activity with particular regard to the expansion of the Pier House as a community hub, the first step being a survey undertaken to ascertain local residents’ views. The internal committee structure and terms of reference have been overhauled. Two new subcommittees - the Development Committee tasked with the renovation and development of the Pier House and the Executive Committee formed to consider matters relating to the Trust as a whole, have been formed also with relevant terms of reference.
Research is ongoing to provide a defibrillator to be placed on the Pier House for use by all the neighbouring community.
As always thanks are due to all the trustees for their continued support and hard work and the expertise they bring to their roles. Thanks are also hugely deserved by the four paid staff who greatly facilitate the smooth running of the Pier and the events put on by the Trust.
Financial review – Treasurer’s report
The Trust reported a net surplus of £52,583 for the year, compared to £40,843 in 2024, with total income rising to £234,346 (2024: £213,900) and total expenditure increasing to £181,763 (2024: £173,057).
The Trust has continued to steadily grow its Pier House and mooring income during the year and has achieved better investment returns through more active management of the cash at bank. An increase in net incoming resources before transfers is reported, however that headline increase converts to a modest decrease if the impact of the reserve against unpaid rent which was taken in 2024 and reversed in 2025 is excluded (see note 8). The underlying decrease is largely driven by increased Port of London Authority license fees and in an increase in staff costs. The latter reflects the decision to expand the Trust officer role to General Manager and is an investment in the future of the Trust which demonstrates its commitment to progressing the charity’s activities and contribution.
Future Outlook
Over the last few years, the Trust has built a solid base of reliable income from moorings, successful events and usage of the Pier House. This increased income, has enabled an increase in support for charitable activities. However, in the years 2026/27 and 2027/28, the Trust will be significantly impacted by the Council rent increase and the loss of RNLI. There is no other choice than to significantly raise income. The Pier House has been identified as the best opportunity for this. A plan is being developed for an overhaul of the facilities, with the addition of a café and a revitalised community hall, and fundraising to pay for this. This is not just the only option to survive financially but also the opportunity to give the charity a new focus and direction for the future.
The Trust is a company limited by guarantee.
The Trust may have up to 20 trustees at any one time, who form a Management Committee to manage the Trust, made up of not less than 6 nor more than 12 individual members, (7 for this period). Up to 6 representatives from the core user organisations mentioned below (3 during 2024/2025). Two representatives appointed by Hounslow 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:
Jan Wright (member trustee – re-elected 3 December 2024)
Peter Roberts (member trustee – re-elected 3 December 2024)
James McConnell (member trustee – re-elected 3 December 2024)
Colin Winchester (resigned 29 August 2025)
Robert McAdie (resigned 9 September 2024)
John Richard Bryson (member trustee – re-elected 1st February 2024)
Simon Clarke (Thames Explorer Trust representative)
Jaclyn Horton (Chiswick Sea Cadets representative - resigned 15 August 2025)
Douglas Lambourne (Chiswick Sea Cadets representative - appointed 21 August 2025)
Glen Cowsill (Chiswick Pier Canoe Club representative - appointed on 2 April 2024)
Sarah Hartill (member trustee - appointed on 2 April 2024, elected 3 December 2024)
Jasmine Elizabeth Crocker (member trustee - appointed on 16 September 2024, elected 3 December 2024)
Marlene Johnson (member trustee - appointed on 21 October 2024, elected 3 December 2024)
Nominated by LB Hounslow:
Cllr Gabriella Giles
Cllr Amy Croft
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.
The trustees, who are also the directors of Chiswick Pier Trust 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
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 are responsible for the maintenance and integrity of the charity and financial information included on the Trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustee's Report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Chiswick Pier Trust (the Trust) for the year ended 31 March 2025.
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.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
Investments
Raising funds
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Chiswick Pier Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Pier House, Corney Reach Way, London, W4 2UG.
The financial statements have been prepared in accordance with 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 Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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.
The Trust reported a net surplus for the year ended 31 March 2025 of £52,583 (2024: £40,843). 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.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
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.
i) Donations
Donations and gifts are included in full in the Statement of Financial Activities (SOFA) when receivable. The value of services provided by volunteers has not been included.
ii) Mooring fees and investment income
Theses are included in the SOFA when receivable.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. All costs are inclusive of VAT.
The cost of overall direction and administration on each activity, comprising the salary and overhead costs of the central function is not apportioned. All staff salaries are allocated to charitable activities. Where costs have been re-allocated to charitable activities, the relevant comparative amounts have also been re-allocated.
Tangible fixed assets are capitalised if they can be used for more than one year and the cost exceeds £1,000. They 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:
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.
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).
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
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, 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, including creditors 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.
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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.
Events and refreshments
Investments
Bank interest
Raising funds
Staging events
Book costs
The average monthly number of employees during the year was:
Chiswick Pier Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities as they fall within the various exemptions available to registered charities.
Deferred income represents income from the supply of office accommodation & storage invoiced in advance.
Deferred income is included in the financial statements as follows:
These are unrestricted funds which are material to the Trust's activities.
The purpose of the Designated Fund is for the ongoing repairs of the Pier House and Pier.
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 do not include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Under the terms of the lease agreement with the London Borough of Hounslow, the company shall return the Pier and Pier House in good condition at the end of the lease in August 2026.
However, the company is currently in the process of negotiating a new lease under the Landlord and Tenant Act 1985, with Heads of Terms Agreements signed for a 15-year term commencing from the expiry of the existing lease.
There were no disclosable related party transactions during the year (2024 - none).
The number of members of the charity was 13 (2024: 12)
Every member of the company agrees to contribute £1 or any smaller amount required if the company is wound up while he or she is a member or within a year afterwards and if the company has debts and liabilities which it cannot meet out of its assets.
In the case of winding up, none of the accumulated funds are distributable to the members, but shall be given, or transferred to, some other charitable institution having similar objectives.