2025-03-31-accounts - The Portland Sculpture And Quarry Trust

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The Portland Sculpture and Quarry Trust (A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the Year Ended 31 March 2025

Company Number: 03875823 Charity Registered in England and Wales Number: 1086659

The Portland Sculpture and Quarry Trust Contents For the Year Ended 31 March 2025

	Page
Reference and Administrative Details	1
Trustee Directors’ Report	2 - 12
Independent Examiners’ Report	13
Statement of Financial Activities	14
Balance Sheet	15 - 16
Notes to the Financial Statements	17 - 27

The Portland Sculpture and Quarry Trust Reference and Administrative Details For the Year Ended 31 March 2025

Trustee Directors	J P Beech
	D A Emmet
	G Downham
	T S Russell
	E D Graham
Company Secretary	P Crabtree
Registered Office	The Drill Hall
	Easton Lane
	Portland
	Dorset
	DT5 1BW
Independent Examiner	Michelle Ferris FCA
	Albert Goodman LLP
	Leanne House
	6 Avon Close
	Weymouth
	Dorset
	DT4 9UX
Bankers	Lloyds Bank
	92 St Mary Street
	Weymouth
	Dorset
	DT4 8PA

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the financial statements for the year ended 31 March 2025. The provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP FRS 102implemented 1 January 2019) have been adopted in preparing the annual report and financial statements of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document and Constitution

The Portland Sculpture and Quarry Trust is a registered charity, charity number 1086659, and a company limited by guarantee, company number 03875823. The charity’s registered office is The Drill Hall, Easton Lane, Portland, Dorset, DT5 1BW. The maximum liability of each member is limited to £1. At 31 March 2025 the company had 53 members, 5 of whom were also the charity’s Trustee Directors. The Portland Sculpture and Quarry Trust is governed by its Memorandum and Articles of Association.

The Portland Sculpture and Quarry Trust was incorporated as a company limited by guarantee on 11 November 1999.

Recruitment and Appointment of Trustees

The Trustees are also the Directors of the company for the purposes of company law. The Trustee Board must consist of at least three Trustees. One-third of the Trustees are required to retire by rotation at each annual general meeting and may offer themselves for re-election by the members of The Portland Sculpture and Quarry Trust if they wish to do so in accordance with the company’s Articles of Association. In addition, the Trustees may from time to time appoint any member as a Trustee to either fill a casual vacancy or add to their number. No other persons or bodies external to the charity are entitled to appoint persons to the Trustee Board.

The following people were Trustees/Directors of the charity during the year and since the year end:

J P Beech D A Emmet G Downham T S Russell E D Graham

Induction of Trustees

Newly appointed Trustees are provided with an induction to The Portland Sculpture and Quarry Trust and are mentored by established Trustees as necessary.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES

Statement of Purpose

The purpose of the charity and its objective, as set out in the Memorandum of Association, is:

To advance the education of the public by the encouragement of study, research, practice and knowledge of the arts and sculpture, stimulating public interest in these and other related artistic and cultural fields, and of the environment, geology, geomorphology, archaeology, culture and heritage of the Isle of Portland, Dorset and other regions in the UK and elsewhere.

Vision: To position Portland at the heart of the Dorset and East Devon World Heritage Coast as a beacon of creative arts, science, and cultural heritage. We aspire to strengthen networks and partnerships that catalyse diversity, equity, and inclusion through the dynamic interchange of ideas and opportunities. By fostering intergenerational exchange, we aim to shape the aspirations and potential of the youth, ensuring that Portland’s rich cultural and geographical heritage inspires future generations globally.

Mission: Our mission is to connect creativity, culture, and science to drive innovation and positive social impact. By fostering inclusive networks, cross-sector partnerships, and intergenerational learning, we will empower individuals and communities to explore new ideas, celebrate diversity, and shape sustainable futures. Through our programmes and collaborations, Portland will serve as a model for how local heritage can inspire global creativity and opportunity.

Summary of Charitable Activities

The Portland Sculpture and Quarry Trust continued during the year to deliver its educational and creative programme in furtherance of its charitable objectives that are inclusive and open to all. Details of the charitable activities are set out in the Achievements and Performance heading below.

Public Benefit

The Trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding the activities undertaken by the charity during the year. The Trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.

The educational and creative programme delivered during the year achieved the charity’s purpose as set out above for the benefit of the public.

ACHIEVEMENTS AND PERFORMANCE

In carrying out its charitable activities during the year, the charity’s achievements and performance have included the following:

Educational Courses and Activities

The Trust had a successful year, running activities for the community, working with artists across different artforms, and ran projects that engaged underrepresented people and those experiencing homelessness developing their creativity and acquiring new skills.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Micro projects and co-creation of events and activities resulted in new collaborations, skills training, employment and volunteering. Activities included:

PSQT gave continuing support to military veterans and their families through carving workshops at weekends where individuals developed a high level of shills. Veteran volunteers also represented the Trust a the ‘On Track’ event in October 2024 for health and wellbeing. PSQT is a signed partner to the Armed Forces Covenant (signed 23 Sept 2023).
Oxford Brookes University – MFA Field Study Residential Course for x4 MFA students and x1 PhD student and Continued Professional Development (CPD) for x3Staff.
October 2024 – Visit to PSQT with interpretation for x10 Chinese Geology Students.
MA Craft & Design students at University of Arts Lond (UAL) Camberwell School of Art / Central Saint Martins, took part in a residential field study with PSQT that included carving stone and guided landscape introductions to the sculpture, geology, the history of quarrying and working of stone on the Island.
Ronan Charles – French Artist from Bordeaux, completed four-week artists residency supported by PSQT, working on a site-specific work entitled ‘Submersible Map’ (World Map) carved into a Portland stone rock armour boulder at Chesil Beach Breakwater Sea Defence. The residency included public/community engagement and PSQT contribution of ideas to the Environment Agency towards the longer-term strategy for sea defence replacement / enhancement in the location.
Local naturalists provided guided environmental interpretation walks for artists and students during their research visits to PSQT, informing an insight into the flora and fauna of Portland.
Heritage Open Days events took place in September 2024 as the ‘Portland Festival of Stone’ that included:
Second visit made possible by Excelsior Coaches for the Portland community to visit the Wren Churches with James Newton architect and to visit St Paul’s Cathedral (kindly hosted by the Very Reverend Dean Andrew Tremlett).
Interpretation Walk to discover site specific art in the environment of Tout Quarry whose stone was used for great buildings including St Paul’s Cathedral - Wren’s greatest masterpiece.
Children’s Stone Carving Workshop – offered a great opportunity for children to create their own carvings in Portland Stone - learning how to use hand carving tools - and allowing their imagination freedom.
Presentation of the Memory Stones Green Corridor project in collaboration with Cobra Café combining projected images / video with live music that celebrated the seven key areas of the Green Corridor: showcasing World Heritage stromatolites, our earliest trees from the Jurassic era, Portland’s fossil record and quarrying history leading to a Grade II Listed Archway from 81 Fleet Street. gifted by The City of London Corporation.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Portland’s Festival of Stone – Stone Carving Weekend for people of all ages to gain hands on experience of carving Portland Stone to take home. The work was recorded to contribute to a ‘Green Corridor' storyline of images inspired by 150 million years of lifeforms to today carved in stone
Community Carving Days at Portland Museum during October 2024 half-term week saw Hannah Sofaer assisted by volunteers Sally & Knick Kropacek. Held in the museum garden, the carving activity was inundated with children and adults, some of whom later finished their work at the Drill Hall carving studio.
Discussions with the ‘Sanctuary’ Portland and Weymouth Community Support Team highlighted benefits to mental health recovery and wellbeing through engaging with arts and environmental activities.
In November 2024 Hannah Sofaer assisted by Paul Crabtree gave an illustrated presentation to Weymouth & Portland Rotary Club about PSQT and its current projects.
PSQT delivered an introductory day to the properties and carving of Portland stone for x14 students and x4 staff from the Bartlett School of Architecture UCL. The day was interspersed with site visits for small groups to different locations looking at the geology and industrial heritage of the Island.
PSQT delivered x3 carving workshops for a total of x60 students from the Construction Course at Bournemouth & Poole College. The workshops provided an introduction workshop to carving stone in x3 groups of 20 including SEN students needing one-to-one tuition. The day long workshops also included a guided walk of sculpture, environment, geology and quarrying history in Tout Quarry Sculpture Park & Nature Reserve. The students from disadvantaged backgrounds were excited and interested in everything they learnt. The Trust recorded the dialogues that captured the inspirational insights of students.
A Conservation Day on uses of ‘Lime’ in buildings conservation and restoration methods was resourced and delivered by the Trust for students from the Architectural Association. The day included methods of cleaning with introduction to carving a range of stones as part of their MA Conservation and Reuse course.
PSQT facilitated a residency research visit for two professional artists working in collaboration, as part of a one-year research project leading to an exhibition of their works and methods of stone extraction/quarrying.
PSQT provided in-kind advice on the geological properties of Portland stone and letter cutting, during the early stages of a civic architectural design project that will commemorate previously unnamed fallen soldiers from WW1. The project will use monolithic blocks of Portland stone in similarity to the Memory Stones, within a new arboretum setting at Brookwood Cemetery.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Summer and Winter Courses

Stone Carving and Sculpture Courses for the community as well as national and international visitors ran throughout the year, achieving an improvement of approx. 27% overall in participant numbers on the previous year 2023. Forty courses in total were delivered over the year.
The courses offered by the Trust attract a diverse range of participants of all ages, backgrounds and countries. Our courses continue to receive high levels of attendance and interest from people locally nationally and internationally. The economic impact not only benefits the local community, but also has a positive effect on the surrounding community and area by providing open access and engagement with community and visitors alike. The courses have continued to establish wide cultural engagement, visitor spend, long-term stay, accommodations, eating out bringing a substantial income to the area over 42 years . In addition to the courses 40,000 + people visit Tout Quarry Sculpture Park & Nature Reserve each year. This ongoing success, spanning over four decades, has greatly contributed to the local economy and enhanced the island's cultural value and diversity.
The Trust's preservation of Tout Quarry through the provision of stone carving courses, art and ecology walks, interpretation of geology and quarrying history, engages a wide number of outdoor education groups. Volunteer groups also play a crucial role in maintaining the quarry's upkeep and accessibility through an established partnership with the Dorset Wildlife Trust.
Throughout the year the Community Carving Workshop Day was regularly attended by local people working on individual ideas. A very positive outcome from the workshop has been for three participants to apply to a new MA by Research course established in a collaboration between Oxford Brookes University and Portland Sculpture & Quarry Trust. Participants have also been involved in training with the Trust on large carvings requested by the community to be sited locally.
Abadan Masonic Lodge took part in a weekend stone masonry course carving Ashlar Blocks.

Exhibitions, Presentations and Partnerships

During the year the Trust organised ongoing exhibitions, events, presentations including cocreation by the community that brought benefits to health and well-being, supporting people from diverse backgrounds and circumstances, in developing their aspirations for the future.
Artists from the Royal Society of Sculptors (RSS) and Hannah Sofaer, Creative Director at PSQT discussed a collaborative 18-month research project, to broaden their understanding and extend their art practice working with the community, temporary interventions and exhibition planned for September 2025. The project involved two group induction visits delivered by PSQT with additional and individual visits providing mentoring and access to digital and physical materials from the Living Land Archive. PSQT also initiated connections for the artists with specialists from the community, as well as community groups and networks.
On 19 June 2024 Full Planning Permission was unanimously granted by Committee at Dorset Council for the Memory Stone Green Corridor Project with the reconstruction of a Grade II

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Listed Arch from 81 Fleet Street. The project will create an interpretation pathway with open air learning spaces that will bring alive the stories of Portland’s geology, fossil record, ecology and quarrying heritage informed by the people whose skills and knowledge have shaped the Island.
In June 2024 PSQT gave a well-received illustrated presentation to a full meeting of Portland Town Council, to request support for the Memory Stones Green Corridor legacy project.
A community group planning day held in June 2024 helped to define the detail of geological areas and key message for interpretation within the Memory Stones Green Corridor legacy project for writing up an expression of interest to the National Lottery Heritage Fund.
Throughout the year PQST attended meetings as a voluntary panel representative on the Construction Industry Training Board (CITB) review for Stonemasonry CIPD Short Duration Course Standards, and Conservation Law. PSQT contributed knowledge of how to select stone, lime mortar applications, stone masonry skills, manual handing and conservation ethics to inform the content of modules endorsed throughout the UK by CITB.
Sofaer became the representative / co-ordinator for Heritage and Environment of Portland within the Portland & Weymouth Towns of Culture 2025 (ToC25) project management group, working together to contribute different strengths in developing community, cultural and heritage events to run throughout 2025.
Sofaer with a community volunteer assisted The Worshipful Company of Masons (WCOM) exhibition stand during the City of London Craft Guilds Day held at the Guildhall, London to promote traditional crafts. This yearly event highlights school children’s routes towards training and employment. Sofaer also continued as a representative on the WCOM Craft & Training Committee
A community coach visit organised for 24 April to four of Wren’s London churches offered a guided interpretation by James Newton (Architect / PSQT Member), arriving at St Paul's Cathedral at the invitation of the Very Reverend Dean Andrew Tremlett who unveiled the Wren Stone on Portland for Wren 300th celebrations during 2023. The visit created a cultural connection between the quarrymen’s hand skills working of stone and the City of London’s architecture. We are very grateful to those involved and the in-kind donation of transport by Excelsior Coaches for the visit.
PSQT working group for ‘Wrens Way’ – developed a proposal to highlight the ‘zig-zag pathway’ on the East cliff originally commissioned and constructed as a haul road paid for by Wren for the building of St. Paul’s Cathedral, that has a significant story to tell, through the materials from the PSQT Living Land Archive. The path is at risk of being lost through invasive plant species.
The Gatekeeper Trust Weekend held in August 2024 initiated a collaborative partnership based on rediscovering our connection to landscape. This included illustrated presentations at the Drill Hall, guided specialist walks and carving workshop.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Molly Mason, British Film Institute (BFI) Film Maker, liaised with PSQT to film the Trust activities within a film being made about Portland.
Trevor Hearing, Independent Film Maker made regular visits to PSQT for the making of a film to profile the Trusts interdisciplinary project and diversity of participants.
As part of the Trusts education on environmental regeneration Sofaer recorded Bob Ford monitoring of a wetland area at Bere Regis for the Dorset Wildlife Trust where agricultural land is being returned to nature
A series of Meetings were held with Dorset Drystone Walling Association and local naturalist Bob Ford in the first area of a geological walk-through Time (Green Corridor) with artist Livia Spinolo from the Royal Society of Sculptors who is undertaking a residency with the Trust to create a permanent drystone sculptural installation that can support the regeneration flora and fauna to create habitat in and around drystone wall constructions.
PSQT supported The Wessex Dramas Project (TWDP) to film at the Drill Hall and at Tout Quarry Sculpture Park & Nature Reserve for their production of Thomas Hardy’s ‘The Well Beloved’. TWDP includes in-kind contributors from The Thomas Hardy Society, The New Hardy Players, The Weymouth Civic Society, Members of the Weymouth Movie Makers, Portland Sculpture & Quarry Trust (Learningstone Quarry), and The Royal Manor Theatre, Portland. Dorset County Council archive the productions and scripts.
The On Track’ – Health and Wellbeing Event at the Bovington Tank Museum Oct 2025 included PSQT volunteers led by former Royal Engineer showcasing carving skills as well as the therapeutic benefits of PSQT courses and workshops.
In November 2024 PSQT supported a strong community focus for the annual Armistice Day Parade assembly gathering at the Drill Hall. The parade was well attended by the community, veterans and families walking to the Portland Cenotaph for the service of remembrance.
Munsty Day Care for adults with mobility issues and special needs took part in activities at the Drill Hall organised by PSQT in collaboration with Cycling Without Age - Portland Chapter (Reg Charity 1182812).
Weekly facilities were provided at the Drill Hall from April to November 2024 for Bibby Stockholm Asylum Seeker groups to cook and socialize with members of the Portland community as part of their support package. The meals shared different cultural exchanges between groups including Eretria, Ethiopia, Sudan, Iran. Pakistan, Afghanistan. A small number of volunteers helped with cutting back vegetation by the gate at Tout Quarry Sculpture Park & Nature Reserve, as well as some painting work at the Drill Hall.
In July 2024 mature students from the University of Third Age were given with a guided visit to Tout Quarry Sculpture Park & Nature Reserve with detailed interpretation of the fossil timeline on display at the Drill Hall – Living Land Archive.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

A Community Christmas Social Event was organised at the Drill Hall in a collaboration between PSQT and Cycling Without Age. The event included a performance of ‘Songs from the Cobra Café’ with original flute and guitar compositions played by a duo of Portland based musicians. PSQT hired a magician who captivated children and adults alike with illusions and tricks. Cycling without age gave children rides and distributed presents brought by the Trust.
In February 2025 Peter and Sarah Dawkins from the Gatekeeper Trust, gave a professional consultancy in kind over 3 days on the siting of the Arch from 81 Fleet Street within the Memory Stones Green Corridor legacy project including meetings with other originations on the island.
In March 2025 Creative Director Hannah Sofaer held discussions with James Grummet of Authentic Education re an interdisciplinary programme of activities for SEN students, from gifted students to those at risk of exclusion from Dorset wide schools, to arrive at a programme of activities for May / June 2025.
In March 2025 Jan Britton, Executive Director of Place, Dorset Council and Cllr Paul Kimber visited the Drill Hall to look at plans and artifacts stored for the PSQT/ Memory Stones Green Corridor project and met members of the community involved in taking forward the project. He was also introduced the Living Land Archive, and an extensive collection of digital audiovisual resources, photographs, slides, papers, fossil record, quarrying hand tools and stone carving tools.
In March 2025 a meeting with Trevor Hearing filmmaker, Daniela Didier (social media and web) and Eva Titherington (web) to discuss the joint approach to recording and posting short videos and podcasts, from community workshops ‘Look To The Rock – Quarrymen’s Stories’ supported by Historic England – Everyday Heritage grants (Celebrating Working Class Histories).

Commissions

The Trust generated earned income during the year from drawings, carvings and letter cutting for four projects, with each incorporating skills training for the community:

Portland Port – Nine carved plaques for inaugural visits of Cruise Liners contributed to income for the year and supported island-based engravers.
Further work was carried out with the support of Dorset Coast Forum on developing the proposal for ‘Brunsden’s Stone’ at the Memory Stones. The stone, aligned to the midsummer day sunset, will be letter-cut with an inscription that acknowledges the vision of the late Prof. Denys Brunsden OBE (Geomorphologist) that resulted in the UNESCO designation of World Heritage Site Status being awarded to the East Devon and Dorset Jurassic Coast site.
Ben Smith, Royal Engineers Veteran, is now in his 4th year stone carving with PSQT via the Armed Forces Covenant Fund Trust project 2020-21. He has significantly progressed his skills. In October 2024 he started an in-kind memorial carving for Weymouth & Portland Veterans Hub, to become a centrepiece for Armistice Day Commemoration Events. The carving is based on the head and mane of a lion with the inscription ‘Lest We Forget’.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Grants and Donations (Restricted and Unrestricted Funds)

UK Shared Prosperity Fund

Dorset Council, UK Shared Prosperity Fund awarded a Retrospectively paid grant of £15,000.00 for PSQT’s training project ‘Green Skills in Stone Related Crafts’. Because the grant was retrospectively paid on proof of expenditure it is not classed as a restricted income/fund for the Charity. The project ran from August 2024 to the end of January 2025 with target of attracting x10 participants who were unemployed or economically inactive adults, engaging them in twenty days tuition and workshop activity to learn new craft skills in stone. At the final grant claim x15 participants had enrolled for the course. The additional tuition and resources provided by PSQT for the additional five participants was reimbursed by Dorset Council in the sum of £5,126.04. This made the total project cost £20,126.04, however the payment of £15,000.00 made in the first grant claim was not released into PSQT’s account until 11 April 2025. PSQT promoted the project and enrolment onto one month course, via a free carving day for families at the yearly Portland Fayre August 2024. The day long workshop was organised for children’s and adults stone carving assisted by veteran Ben Smith, artist / architect Nele Bergman and two young architects from Brussels. Promotional materials and advertisements were also placed with the Free Portland News and social media. The Drill Hall, Tesco’s Portland, Job Centre Plus (Weymouth & Bridport Offices), Bus Shelter Dorset, Lantern Trust and The Talk About Trust, Dorchester.

Historic England

Historic England – Everyday Heritage (Celebrating Working Class Histories) awarded a grant of £9,560.00, plus £2,250.00 match funding, towards a total project cost of £11,810for PSQT project 9428 ‘Look To The Rock – Quarrymen’s Stories’. The project started in January 2025 – to complete in September 2025, and the initial start up payment of £3,187.00 was received on 20 Dec 2024. Remaining instalments of the grant fall into the following financial year 20252026. Community workshops will lead to podcasts and short videos to be made available online.

Island and Royal Manor of Portland Court Leet

The Court Leet donated £500 towards the ongoing community programme of PSQT, and this represents an unrestricted fund for the Charity.

Weymouth & Portland Borough Council (former local authority)

The sum of £20,000 previously granted by the former Weymouth & Portland Borough Council is to be carried forward as match funding for interpretation of the Memory Stones that now form the interpretation hub at the start of the Green Corridor Project - Geological Pathway that includes the reconstruction of the arch from 81 Fleet Street. There was no expenditure from this restricted fund during the year.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Gatekeeper Trust

The Gatekeeper Trust donated a total of £7,200.00 as a restricted fund to be allocated to carving the ‘Gulley Stone’ and groundworks within the first geological area / outdoor learning space of the Memory Stones Green Corridor project.

Community Donations

Donations to the Memory Stones Green Corridor Project were also received in the sum of £525.00 from Rod Wild (PSQT Member) and £150.00 from Helen Whitby (Portland Community).

FINANCIAL REVIEW

Financial Position

Incoming resources in the year were £62,196 (2024: £52,127). Of this £8,313 (2024: £1,000) related to project restricted activities.

A deficit of £1,342 was made in the year (2024: £22,983). At the balance sheet date total unrestricted reserves were £66,577 (2024: £65,556). Restricted reserves at the balance sheet date were £27,651 (2024: £30,014).

The charity maintains a cash balance of £97,800 (2024: £98,385) and has net current assets of £92,163 (2024: £93,000). Total net assets are £94,228 (2024: £95,570).

The operating cost for the Drill Hall and Community Stone Workspace was £26,208 (2024: £33,055) representing an decrease of £7,081 (21%). The average operating cost of facilities per day was £71.80 (2024: £90.56).

Reserves Policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (that is free reserves) held by the charity should be equivalent to between twelve and twentyfour months of the annual resources expended.

Expenses for the 24 months ended 31 March 2025 totalled £138,648 and unrestricted reserves at 31 March 2025 were £66,577.

The reserve is held for the following purposes:

to support PSQT staff
to manage cash flow
to cover any necessary increase in expenditure caused by economic conditions
to provide for enhanced risks
to protect against the loss of funding opportunities
to fulfil expected commitments authorised by the Trustees.

This policy is kept under annual review by the Trustees.

Where the charity receives incoming resources, which have restrictions placed on their use by the donors, they are held as restricted reserves to the extent that they have not yet been utilised for their prescribed use.

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The Portland Sculpture and Quarry Trust Trustee Directors’ Report For the Year Ended 31 March 2025

Funds in Deficit

The charity has no funds that are in deficit

Going Concern

The Trustees have no uncertainties concerning the charity’s ability to continue as a going concern.

Statement of Trustees Responsibilities

The trustees (who are also directors of The Portland Sculpture and Quarry Trust for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 charitable company and of the income and expenditure, of the charitable company for that period. 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 judgments and accounting 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 charitable company will continue in business.

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's independent examiners are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information.

This report has been prepared in accordance with 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) and in accordance with the provisions applicable to companies subject to the small companies regime.

………………………… ………………………… D A Emmet G Downham Chair Trustee Date: …………………………

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The Portland Sculpture and Quarry Trust Independent Examiners' Report to the Trustees For the Year Ended 31 March 2025

I report to the charity trustees on my examination of the accounts of The Portland Sculpture and Quarry Trust (“the Company”) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity’s 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

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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
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.

………………………… Michelle Ferris FCA for and on behalf of Albert Goodman LLP 6 Avon Close Chartered Accountants Weymouth Dorset Date: ………………………… DT4 9UX

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The Portland Sculpture and Quarry Trust Statement of Financial Activities (including an Income and Expenditure account) For the Year Ended 31 March 2025

		Unrest-	Rest-	Total	Unrest-	Rest-	Total
		ricted	ricted	Funds	ricted	ricted	Funds
	Notes	Funds	Funds	2025	Funds	Funds	2024
		£	£	£	£	£	£
Income:
Donations	2	9,901	-	9,901	1,711	-	1,711
Charitable activities	3	33,497	8,313	41,810	35,622	1,000	36,622
Other trading activities	4	10,477	-	10,477	13,787	-	13,787
Bank interest received		8	-	8	7	-	7
		______	______	______	______	______	______
Total income		53,883	8,313	62,196	51,127	1,000	52,127
		`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`
Expenditure:
Charitable activities	5	52,862	10,676	63,538	67,067	8,043	75,110
		______	______	______	______	______	______
Total expenditure		52,862	10,676	63,538	67,067	8,043	75,110
		`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`
Net (expenditure)/income
before transfers		1,021	(2,363)	(1,342)	(15,940)	(7,043)	(22,983)
Transfers between funds	12	-	-	-	(1,402)	1,402	-
		______	______	______	______	______	______
Net movement in funds		1,021	(2,363)	(1,342)	(17,342)	(5,641)	(22,983)
Reconciliation of funds:
Total funds brought forward		65,556	30,014	95,570	82,989	35,655	118,553
		______	______	______	______	______	______
Total funds carried forward		66,577	27,651	94,228	65,556	30,014	95,570
		`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`

The results for the year derive from continuing activities, and there are no gains or losses other than those shown above.

The statement of financial activities incorporates the income and expenditure account.

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The Portland Sculpture and Quarry Trust Balance Sheet As at 31 March 2025

	Notes		2025		2024
		£	£	£	£
Fixed assets
Tangible assets	9		2,065		2,570
Current assets
Cash at bank and in hand	10	97,800		98,385
		`_______`		`_______`
		97,800		98,385
		`_______`		`_______`
Creditors
Amounts falling due within one year	11	(5,637)		(5,385)
		`_______`		`_______`
Net current assets			92,163		93,000
			`_______`		`_______`
Total assets less current liabilities			94,228		95,570
			`_______`		`_______`
Net assets			94,228		95,570
			`‗‗‗‗‗‗‗`		`‗‗‗‗‗‗‗`
The funds of the charity
Unrestricted funds:
General funds	12		65,430		64,409
Designated funds	12		1,147		1,147
			`_______`		`_______`
			66,577		65,556
Restricted funds	12		27,651		30,014
			`_______`		`_______`
Total charity funds			94,228		95,570
			`‗‗‗‗‗‗‗`		`‗‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Balance Sheet As at 31 March 2025

For the year ending 31 March 2025, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.

The members have not required the charitable company to obtain an audit of its accounts for the year in accordance with section 476 of the Act.

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

The accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Approved by the Board of Trustees for issue on …………………. and signed on their behalf by:

………………………… ………………………… D A Emmet G Downham Chair Trustee

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting Policies

1.1 General information and basis of accounting

The Portland Sculpture and Quarry Trust is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The maximum liability of each member is limited to £1. The address of the registered office is given on page 1. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 2 - 12.

The financial statements have been prepared in £ sterling on the historical cost basis and in accordance with 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) - (Charities SORP (FRS 102)) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Donation income is received by way of donations, gifts and membership subscriptions and is included in full in the Statement of Financial Activities when receivable.

Income from educational courses is included in full in the Statement of Financial Activities when receivable and in the period to which they relate. Course fees are deferred when the monies have been received in advance of the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate.

Income from grants, relating to charitable activities is included in full in the Statement of Financial Activities when receivable and in the period to which they relate. Grants are deferred when the monies have been received in advance of the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate. Where grants received have conditions or restrictions as to their use attached the income is recognised as restricted income funds. Where no such conditions or restrictions exist grants received are recognised as unrestricted income.

Income from other trading activities in the form of commissioned works and the letting of the charity’s premises and facilities when not being used for its own operational purposes are included in full in the Statement of Financial Activities when receivable. Where funds have not been received in a specified period, they are accrued in debtors and recognised in the period to which they relate. Where such income is received in advance it is deferred to the period to which it relates.

Investment income is represented by interest on funds held on deposit. It is included in the Statement of Financial Activities when receivable and the amount can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank.

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

1.3 Donated services

In accordance with the Charities SORP (FRS 102), unpaid general volunteer time is not recognised in the financial statements.

1.4 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its charitable activities. It includes both costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them. Due to the nature of the charity’s objects and the scale of its activities, all costs, other than those direct costs that can be readily attributed to its other trading activities, are allocated to charitable activities.

1.5 Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. The charity has operating leases for the premises from which it operates. The title of the leased premises remains with the lessor.

1.6 Fixed assets

Where fixed assets are purchased, they are stated at their purchase cost plus any incidental expenses of acquisition, less depreciation. Where fixed assets are donated, they are stated at their estimated market value on acquisition, less depreciation. Depreciation is charged in respect of fixed assets and is calculated so as to write off the cost of the assets, less any estimated residual value, over their expected useful economic lives as follows:

Beach hut not depreciated Vehicle 25% of written down value Equipment 25% of written down value

1.7 Debtors

Accrued income is recognised at the settlement amount due and prepayments are valued at the amount prepaid.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

1.9 Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

1.10 Taxation

The company is a registered charity and is therefore not liable to corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the company and is therefore included in the relevant costs in the Statement of Financial Activities.

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

1.11 Fund accounting

General funds are unrestricted funds receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs as appropriate.

1.12 Financial Instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors and accruals are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

2 Income from donations

	Unrest-	Rest-	Total	Unrest-	Rest-	Total
	ricted	ricted	Funds	ricted	ricted	Funds
	Funds	Funds	2025	Funds	Funds	2024
	£	£	£	£	£	£
Membership subscriptions	454	-	454	275	-	275
Donations	9,447	-	9,447	1,436	-	1,436
	______	______	______	______	______	______
	9,901	-	9,901	1,711	-	1,711
	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

3 Income from charitable activities

		Unrest-	Rest-	Total	Unrest-	Rest-	Total
		ricted	ricted	Funds	ricted	ricted	Funds
		Funds	Funds	2025	Funds	Funds	2024
		£	£	£	£	£	£
	Grants:
	Dorset Council	-	5,126	5,126	-	-	-
	Historic England	-	3,187	3,187	-	-	-
	Portland Town Council	-	-	-	-	500	500
	The Island and Royal Manor of
	Portland Court Leet (2)	-	-	-	-	500	500
		______	______	______	______	______	______
		-	8,313	8,313	-	1,000	5,750
	Educational courses	26,925	-	26,925	28,118	-	28,118
	Student Fees	6,252	-	6,252	5,640	-	5,640
	Artist Residencies	320	-	320	1,864	-	1,864
		______	______	______	______	______	______
		33,497	8,313	41,810	35,622	1,000	36,622
		`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`
	The income above is made up of:
	Received in year	33,497	8,313	41,810	29,978	1,000	30,978
	Deferred income brought forward	-	-	-	5,644	-	5,644
	Deferred income carried forward	-	-	-	-	-	-
		______	______	______	______	______	______
		33,497	8,313	41,810	35,662	1,000	36,622
		`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`
4	Income from other trading activities
		Unrest-	Rest-	Total	Unrest-	Rest-	Total
		ricted	ricted	Funds	ricted	ricted	Funds
		Funds	Funds	2025	Funds	Funds	2024
		£	£	£	£	£	£
	Commissions	1,530	-	1,530	5,860	-	5,860
	Accommodation and facility fees	8,756	-	8,756	5,037	-	5,037
	Sales	191	-	191	537	-	537
	Use of Drill Hill and Community
	Work Space	-	-	-	2,353	-	2,353
		______	______	______	______	______	______
		10,477	-	10,477	13,787	-	13,787
		`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

5 Charitable expenditure

	Unrest-	Rest-	Total	Unrest-	Rest-	Total
	ricted	ricted	Funds	ricted	ricted	Funds
	Funds	Funds	2025	Funds	Funds	2024
	£	£	£	£	£	£
Project costs	452	-	452	1,757	6,187	7,938
Materials, tools and equipment	1,487	543	2,030	1,532	488	2,020
Salaries	3,800	1,200	5,000	8,000	-	8,000
Rent and licence fee	12,000	-	12,000	12,000	-	12,000
Rates	1,321	-	1,321	366	-	366
Ground rent	500	-	500	-	-	-
Insurance	7,505	-	7,505	6,558	-	6,558
Light, heat and power	4,890	-	4,890	4,222	-	4,222
Repairs and maintenance	492	-	492	9,908	-	9,908
Telephone	770	-	770	770	-	770
Motor and travelling	2,896	-	2,896	1,277	-	1,277
IT and Software costs	2,644	-	2,644	1,918	-	1,918
Advertising and publicity	1,040	300	1,190	1,909	1,088	2,997
Accommodation and subsistence	832	-	832	758	-	758
Books and symposia	214	-	214	27	-	27
Accountancy fees	2,173	-	2,173	1,763	-	1,763
Professional fees	9,315	8,326	17,641	13,344	280	13,624
Depreciation	505	-	505	674	-	674
Sundry	176	307	483	290	-	290
	______	______	______	______	______	______
	52,862	10,676	63,538	67,067	8,043	75,110
	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`

6 Net (expenditure)/income for the year

This is stated after charging:

This is stated after charging:
	2025	2024
	£	£
Depreciation	505	674
Independent examiner remuneration
Independent examination services	842	683
Accountancy services	1,331	1,080
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

7 Trustee directors

None of the trustee directors (or any persons connected with them) received any remuneration during the year (2024: none) and no travelling or other expenses were reimbursed to trustee directors (or any persons connected with them) during the year (2024: none).

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

8 Employees and employment costs

	2025	2024
	£	£
Wages and salaries	5,000	8,000
	`_______`	`_______`
	5,000	8,000
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`
No individual employee was paid over £60,000 (2024: None).
The average monthly headcount (number of staff employed) during the year was:
	2025	2024
	No.	No.
All staff	1	1
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

The key management personnel of the charity are considered to be the Company Secretary and Creative Director. The total cost of employee benefits for the key management personnel was £5,000 (2024: £8,000). The Creative Director is self-employed.

The charity has no employees in respect of whom it has a statutory obligation to make pension contributions and does not therefore currently operate a pension scheme.

Volunteers contribute unpaid time to the services provided by the charity. The estimated value of volunteer time for the year amounted to approximately £29,575, which has not been reflected in the Statement of Financial Activities in accordance with the Charities SORP (FRS 102).

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

9	Tangible fixed assets
		Beach Hut	Vehicle	Equipment	Total
		£	£	£	£
	Cost
	As at 01.04.24	556	20,575	62,373	83,504
	Additions	-	-	-	-
		`_______`	`_______`	`_______`	`_______`
	As at 31.03.25	556	20,575	62,373	83,504
		`_______`	`_______`	`_______`	`_______`
	Depreciation
	As at 01.04.24	-	20,496	60,438	80,934
	Charge for year	-	20	485	505
		`_______`	`_______`	`_______`	`_______`
	As at 31.03.25	-	20,516	60,923	81,439
		`_______`	`_______`	`_______`	`_______`
	Net book value
	As at 31.03.25	556	59	1,450	2,065
		`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`
	As at 31.03.24	556	79	1,935	2,570
		`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`
10	Cash at bank and in hand
				2025	2024
				£	£
	Deposit account			561	553
	Current accounts			97,239	97,832
				`_______`	`_______`
				97,800	98,385
				`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

Creditors: Amounts falling due within one year
	2025	2024
	£	£
Creditors	2,354	2,354
Accruals	3,283	3,031
Deferred income	-	-
	`_______`	`_______`
	5,637	5,385
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`
Deferred income
	2025	2024
	£	£
Brought forward	-	(5,644)
Released in the year	-	5,644
Deferred in the year	-	-
	`_______`	`_______`
Carried forward	-	-
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

Deferred income above is related to course income received in 2023 for courses held in 2024.

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

Statement of funds
	01.04.24	Income	Expenditure	Transfers	31.03.25
	£	£	£	£	£
Unrestricted funds
General funds	64,409	53,883	(52,862)	-	65,430
Designated funds
Community Stone
Workspace equipment	1,147	-	-	-	1,147
	`_______`	`_______`	`_______`	`_______`	`_______`
Total unrestricted funds	65,556	53,883	(52,862)	-	66,577
	`_______`	`_______`	`_______`	`_______`	`_______`
Restricted funds
Memory Stones 47	20,000	-	-	-	20,000
Groundworks UK	4,722	-	-	-	4,722
National Lottery	5,292	-	-	-	5,292
UK – Shared Prosperity Fund	-	5,126	(10,526)	-	(5,400)
Historic England	-	3,187	(150)	-	3,037
	`_______`	`_______`	`_______`	`_______`	`_______`
Total restricted funds	30,014	8,313	(10,676)	-	27,651
	`_______`	`_______`	`_______`	`_______`	`_______`
Total funds	95,570	62,196	(63,538)	-	94,228
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`
	01.04.23	Income	Expenditure	Transfers	31.03.24
	£	£	£	£	£
Unrestricted funds
General funds	81,370	51,127	(67,067)	(1,021)	64,409
Designated funds
Community Stone
Workspace equipment	1,528	-	-	(381)	1,147
	`_______`	`_______`	`_______`	`_______`	`_______`
Total unrestricted funds	82,898	51,127	(67,067)	(1,402)	65,556
	`_______`	`_______`	`_______`	`_______`	`_______`
Restricted funds
Memory Stones 47	20,000	-	-	-	20,000
Groundworks UK	5,363	-	(641)	-	4,722
National Lottery	5,292	-	-	-	5,292
Dorset Community Foundation (2) 5,000		-	(5,776)	776	-
Portland Town Council	-	500	-	(500)	-
The Island and Royal Manor of
Portland Court Leet (2)	-	500	(1,626)	1,126	-
	`_______`	`_______`	`_______`	`_______`	`_______`
Total restricted funds	35,655	1,000	(8,043)	1,402	30,014
	`_______`	`_______`	`_______`	`_______`	`_______`
Total funds	118,553	52,127	(75,110)	-	95,570
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

The general unrestricted fund represents the unrestricted funds of the charity at the year end.
The Community Stone Workspace equipment fund is a designated fund created to reflect the ongoing book value of that equipment to the extent that it was originally purchase using grant aid from the EU Agricultural Fund for Development in Rural Communities 2007 to 2013.
Memory Stones 47 – The restricted funds of £20,000 brought forward in respect of the Memory Stones project was unspent during the year.
Groundworks UK – The restricted fund of £5,363 is in respect of a grant received for the Groundworks UK Community Skills Training program.
National Lottery Community Fund – The restricted fund of £4,651 is to create a ‘Climate and the Land - Green Corridor’ project, creating environmental improvements to the northern access to Tout Quarry.
UK Shared Prosperity Fund – £5,126 grant received, which was fully expensed to pay the professional fees of Hannah Sofaer. An additional £5,400 was paid for expenses relating to this project. The fund has an overdrawn balance of £5,400 at the year end, pending receipt of confirmed funding to be received shortly after the year end.
Historic England Look To The Rock - Quarrymen’s Stories – The restricted fund of £3,037 is to engage the community in introductory workshops focusing on Portland’s quarry environment and the distinctive local skills of working with stone.

13 Analysis of net assets between funds

	Unrest-	Rest-	Total	Unrest-	Rest-	Total
	ricted	ricted	Funds	ricted	ricted	Funds
	Funds	Funds	2025	Funds	Funds	2024
	£	£	£	£	£	£
Tangible fixed assets	2,065	-	2,065	2,570	-	2,570
Current assets	70,149	27,651	97,800	68,371	30,014	98,385
Creditors due within one year	(5,637)	-	(5,637)	(5,385)	-	(5,385)
	______	______	______	______	______	______
	66,577	27,651	94,228	65,556	30,014	95,570
	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`	`‗‗‗‗‗‗`

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The Portland Sculpture and Quarry Trust Notes to the Financial Statements For the Year Ended 31 March 2025

14 Financial commitments

As at 31 March 2025 the charity was committed to making the following payments under operating leases.

leases.
	Land and	buildings
	2025	2024
	£	£
Due within one year	12,000	12,000
	`_______`	`_______`
	12,000	12,000
	`‗‗‗‗‗‗‗`	`‗‗‗‗‗‗‗`

The Portland Sculpture and Quarry Trust has occupied the Drill Hall since 2001, initially under the terms of a draft lease between the owners of the property (the Crown Estate) and their lessee (Albion Stone plc). The charity paid rent to Albion Stone plc and fulfilled all of its other obligations as if it were itself the direct tenant of the property without objection from the Crown Estate. Since 2019 Albion Stone plc has been the owner of the Drill Hall, and the tenancy has continued on the same terms as a secure periodical tenancy, with all obligations continuing to be fulfilled. Albion Stone plc has proposed that a new lease should, in due course, be granted directly to the Portland Sculpture and Quarry Trust. In the circumstances, the Trustees believe that the current arrangements represent an ongoing financial commitment for the charity.

15 Related party transactions

Hannah Sofaer – Creative Director

Hannah Sofaer is the charity’s self-employed Creative Director. During the year, The Portland Sculpture and Quarry Trust paid professional fees to Hannah totalling £17,641 (2024: £10,020). As at 31 March 2025, there were no outstanding professional fees owing to Hannah (2024: none).

16 Company limited by guarantee

The charity was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on the winding up of the company. At 31 March 2025, the company had 53 members, including the charity’s Trustee Directors, and the total amount guaranteed is therefore £53.

Produced by Albert Goodman LLP

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