**Annual Report and Accounts 2020**
0
**Cover image** : Joseph Strutt, _The sports and pastimes of the people of England,_ London, 1830. Image used as part of the Portico Library’s Fun & Games exhibition (Nov 2020 – Jun 2021.
## ANNUAL REPORT AND ACCOUNTS 2020
|TABLE OF CONTENTS|Page|
|---|---|
|**Contents**|1|
|**Administration Information**|2|
|**Introduction from the Chair and Librarian**|3|
|**Achievements**|8|
|**Report of the Trustees**|13|
|Introduction|13|
|Public benefit|13|
|Review of operations during the year|15|
|Future Plans|18|
|Obituaries|19|
|Financial Review|21|
|Structure, governance and management|22|
|Statement of Trustees’ Responsibilities|22|
|**Report of the Independent Auditor**|24|
|**Accounts**||
|Statement of Financial Activities|28|
|Balance Sheet|29|
|Cash Flow Statement|31|
|Notes to the Cash Flow Statement|32|
|Notes to the Financial Statements|33|
|Detailed Statement of Financial Activities|40|
## ADMINISTRATIVE INFORMATION
**Charity Name** The Portico Library and Newsroom **Registered office and principle place of business** 57 Mosley Street, Manchester, M2 3HY **Charity Registration Number** 1143639 **Company Registration Number** 07499984
## **TRUSTEES**
**Chair Company Secretary** Mrs Lynne M. Allan Ms Kathryn A. Graham **Other Trustees** Mrs Janet R. Allan MBE Dr Dorothy J. Clayton (Chair Book Committee) Dr Anthony P Donajgrodzki (Chair Strategic Development Committee) Mr John Greenwood Dr Reinmar Hager Mr Steve Slack (Chair Public Programme Committee) Dr John L. P. Tiplady (Chair Equity and Representation Action Group) Mr Michael J. Townsend Mr Mark S. Watson (Resigned 30/9/20) Mr John Carpenter (Appointed 30/9/20) (Chair House Committee) Mr Ken Phillips (Appointed 30/9/20) (Chair Finance and Resources Committee)
**STAFF Librarian** Dr Thom E. Keep **Learning and Conservation Manager** Ms Aoife J. Larkin **Exhibitions and Programmes Curator** Mr James Moss **Administrative Assistant** Mrs Michelle Hill **Portico Prize and Communications Officer** Ms Sarah Hill **Kitchen Manager** Mr Joe Fenn **Kitchen Assistant** Ms Tracey Edwards
## **ADVISORS**
**Bankers** Cooperative Bank, 70-72 Cross Street, Manchester, M2 4JG **Auditors** BTMR Ltd, Century Buildings, 14 St Mary’s Parsonage, Manchester, M3 2DF **Solicitors** Brabners LLP, 55 Kings Street, Manchester, M2 4LQ
## INTRODUCTION FROM THE CHAIR
What 2020 and 2021 taught us at The Portico Library, and the world at large, is how precarious and precious life is. It has also demonstrated how nimble-footed the governance and staff team have had to be in order to survive. Our minutes for January 2020 are, in retrospect, blissfully unaware of what was to follow and reflect our optimism for the future. We were planning the submission of our Expression of Interest to the Lottery Heritage Fund, ready to get on with the next exciting phase of the Portico’s development plan having successfully completed a Resilient Heritage Project. Despite everything that has happened the Library has continued with its strategic objectives, which include the custodianship of our heritage building and special collection, stimulating and supporting research of all kinds, engaging all with memorable cultural experiences and inspiring young people and learners of all ages. Our public benefit has grown in the context of an urgent regional and national task of recovery and renewal.
Before the pandemic took hold and lockdown was announced we were able to hold the most successful Portico Prize since it was established in 1985. This
unique prize, which celebrates Northern writing, reached new audiences and readers, generating considerable public interest and an impressive list of book entries.
The Prize ceremony took place in January 2020 and was jointly held between The Bank pub and the Portico Library, reuniting the building for the first time in 100 years. The idea was a brilliant one, with the additional benefit of helping attendees visualizing a reconnected space. The event was sold out and a huge success largely due to all the hard work and press coverage organised by our Portico Prize and Communications Officer, Sarah Hill.
By March, Covid-19 had struck and in accordance with the Government directive we temporarily closed our doors to the public and members. All staff worked from home and all meetings were held virtually by electronic means. The closure of the Library expedited the creation of the Portico’s online services and gave time to focus on governance work. The legacy of what was accomplished and created will be built
into our National Lottery Heritage Fund bid.
The Portico is often described as a family and the hardest part of the pandemic was that family life was disrupted both inside and outside the Library. Members remained generous in their support and Trustees and Committee members generous with their time. We met regularly online to support our hardworking Librarian, staff and members through this unprecedented situation. Through our public programme we informed and delighted audiences through digital events such as ‘ _What it is to be here: Colonisation and Resistance’_ which was ably conceived and created by Dr Helen Idle and our very own Exhibition and Programmes Curator, James Moss. One of the highlights being a live conversation with Director of Ngaanyatjarra Pitjantjatjara Yankunytjatjara Women's Council and a traditional owner of Uluru-KataTjutu National Park, Rene Kulitja. Through events like this we found new ways to bring the Library to those who could no longer visit in person.
One of the Library’s key objectives is to create a welcoming and inclusive library that represent Manchester’s communities and is accessible to all and this work has been led by our Equity and Representation Action Group, which is chaired by Trustee John Tiplady. This important work looks to tackle vital questions of representation in our governance and staff. We are looking at making our services and spaces more inclusive and have debated the way we explain the origins and legacies of Library and its collection. Staff, Trustees, members, volunteers and the public have
engaged in challenging conversations about the change needed to improve the experience of those working in and enjoying the Library. We are developing an Equity and Representation action plan which will reflect our values as well as our belief that libraries can be powerful sources of social cohesion in the postpandemic era.
It was with great sadness that the death of Book Committee member Jennifer Palmer was announced in 2020. Jennifer’s husband, Stuart advised that ‘The Portico was one of the joys of her life’. Stuart took on Jennifer’s membership, but also made a very generous donation to the Library which he and Jennifer had discussed in the weeks leading up to her death. Their donation has allowed the following projects to come to fruition.
1. A substantial contribution to the 2021 Portico Prize
2. The appointment of a Collections and Access Librarian
3. The funding of the Portico Palmer Crime Lecture (a 5-year event programme that will showcase a high-profile crime writer delivering an annual lecture)
We are immensely grateful for this charitable bequest.
Trustee Mark Watson resigned after many years’ service as a Main Committee and Board member. We are very grateful for the contribution he has made. Although Mark was a Geology graduate, he is much more known and appreciated as an architectural photographer and conservation champion. He has given devoted service to the Portico as a property Trustee and as a Director of the new charity. Two new directors were appointed although both have been
stalwart members for several years. Ken Phillips, Chair of the dissolved Portico Library Trust and John Carpenter, now Chair of the House Committee.
I know that all the Trustees, old and new, would wish to record their thanks for the work of Dr Thom Keep and all his team in highly unusual and testing circumstances. They demonstrated energy, imagination and an extraordinary commitment to the Library. They, more than anything else, is what has kept us afloat.
In January 2020, the Library established a Governance Action Group to discuss the changing needs of our charity going forward. As a charity we are responsible to a wider group of people than hitherto and therefore it is recognized that it is necessary to update our governance structure and redefine the remit of our subcommittees. The archaic nature of our governance has charm and resilience, but it was collectively agreed that it needed updating if our charity is to survive and flourish. Under our original Rules and Articles, the Officers of the Library in the form of the Chair, Treasurer and Secretary have formal executive responsibility of the Library, although the Chairs of the committees help diffuse responsibility. As Chair, I have always seen my role as a facilitator and promoted the diffusion of responsibility and see this as key to the growth and success of the new charity. The Group has met regularly and reviewed other Library governance set-ups as well as attending webinars and training sessions with a view to adopting good practice. Amongst the practices we wish to adopt is a ‘Young Person’ scheme (whereby a volunteer joins the Board as an observer) and to expand the Board of directors from 12 to 16. This latter change
will be put to the membership at the AGM in November 2021.
The Portico Trust, in place for many years, was dissolved in 2020 and its assets transferred to the Library. Similarly, the Portico’s Property Trustees signed the required paperwork to transfer ownership of the building and books from the Trust back to the Library. Recently, we learnt that the formalities are completed and ownership is registered with the Land Registry. Kathryn Graham, our Secretary, is to be thanked for all her help and support in achieving this. Volunteer Ellie Holly must also be thanked for discovering the vital document in the Portico’s archival papers that enabled registration.
Much of 2020 was devoted to raising emergency funding and our Strategic Development Committee, led by Trustee Tony Donajgrodzki, has become adept at making grant applications. There has been a great deal of success, including a £43,000 Heritage Emergency grant from NLHF. Manchester City Council supported the Portico throughout 2020 through rates relief and we received £25,000 as part of their Retail and Hospitality fund. In addition to the support of national funders, we received charitable donations from the membership that have been vital to the Portico, particularly as an organisation that receives no regular public funding and is reliant on its own fundraising efforts.
And so, after an exceptional period, which tested us to the limit, but for which everyone - Trustees, staff, volunteers, members, and the public - rose to the challenge, thank you all. We look forward with great confidence.
**Lynne Allan**
## INTRODUCTION FROM THE LIBRARIAN
The past year has been one of the most remarkable in the Library’s two hundred year history. Covid closures and subsequent rebuilding process have ushered in a new era for the Portico. There have been disappointments, but as the achievements set out in this report demonstrate, there have been many highlights too. It’s a testament to all those who are part of the Portico community that we have been able to keep the lights on, maintain a membership service, and deliver such a fantastic public programme.
One of the focal points of the Library’s Covid response was to change how we communicate. Through a successful application to the National Lottery Heritage Fund, we were able to redesign our website with accessibility at its core and space to promote the Library’s collection, membership and public programme. The new website launched in early 2021 and now includes an online membership portal where users can read newspapers and magazines and build interest groups through forums.
Connected to the Library’s new website was the transition to digital events and exhibitions. Crash-courses in Zoom webinars led to a series of successful
online events on the extraordinary origins of chess, the life of Giovanni Belzoni and a conversation with Uluru custodian Rene Kulitja where she spoke about the colonisation of her people and language. The latter contributed to _What it is to be here: Colonisation and resistance_ , one of two digital exhibitions created by the Portico during the pandemic period _._ The exhibition brought to the fore the connections between Portico proprietors, the Industrial Revolution, British empire-building, and colonial expansion, as well as helping us to consider how the process of colonisation and First Nations people’s resistance to it continue to this day.
At the heart of the Library’s work during this period has been it’s commitment towards creating a welcoming and inclusive Portico that represents Manchester’s communities and that’s accessible to all. The Library is currently embarking on ambitious development plans and key to this work has been the creation of a new Equity and Representation Action Group. Through the guidance of this group, the Library looks to build and shape a library and wider cultural sector that represents and
serves its communities in Manchester and beyond.
Despite the challenges posed by the pandemic, the Portico was still able to relaunch the Portico Prize and deliver the Portico Sadie Massey Awards (PSMA) for young readers and writers. Literature and learning form a core part of the Library’s activities and help us to connect with our local communities. In 2020, the PSMAs received hundreds of creative writing submissions from over fifty schools from around the country, creating a direct link between the Portico’s historic collection and young people. Much credit goes to Ruth Estevez and Aoife Larkin for processing such a substantial number of submissions during the first week of the national lockdown.
The Portico team has been nothing short of remarkable during the past 12 months.
The staff, volunteers, Trustees and committees have provided unwavering support, guidance and versatility. I will be forever grateful for their commitment to the Library, which has enabled the Portico to thrive and battle the impact of the pandemic
Finally, I would like to say a huge thank you to all the members, donors, partners and the public for their continued support during this difficult year. Whether it was renewing a subscription, attending an event, donating via the website or referring us to a friend, your help has enabled the Library to remain open as an important resource for Manchester and the wider cultural community. Thank you.
**Thom Keep**
**The Portico Sadie Massey Awards**
## ACHIEVEMENTS
## **PORTICO PRIZE**
The 2020 Portico Prize, delivered in partnership with Manchester Metropolitan University (Man Met), came to a captivating conclusion in January with Jessica Andrews being crowned the winner with her debut novel Saltwater. Chair of the judges, Simon Savage, said: “Saltwater shows the ‘spirit of the North’ is diverse and multifaceted. The North is not just around us, or a particular location to visit – but a place within us. It’s something we take with us when we set out to find our space in the world and when we spread Northern stoicism, joy, grit, humour and hope wherever we go. Saltwater celebrates all this in a powerful, provocative and poignant tale.” Jessica took home the £10,000 award as well as a unique trophy created by Venture Arts ceramicist Barry Finan.
The 2020 Prize underwent a successful restructure, key to which was the introduction of the Society of Readers and Writers whose role was to select the longlist. This new inclusion was coupled with the refining of the Prize to just a single award and changing the parameters of the judging criteria to reward the best book that evoked the spirit of the North.
A strategic communications approach was taken to reach the widest public audience possible. This included a coordinated media campaign led by public relations consultant Jane Acton and the creation of a curated series of events – Rewriting the North. Developed in partnership with Man Met, this series drove public conversation
about northern literature. It culminated in a sell-out shortlist event held at the university in January 2020.
On Sunday 12 January, the Observer, ran a front-page feature in their New Review supplement. This eight-page spread set the tone for the winner’s announcement and spearheaded the discussion about Northern writing and writers. It led to features with The Guardian, BBC Radio 4 Front Row, BBC website homepage, BBC Radio 4 Today, two Press Association stories, and a Guardian interview with Jessica Andrews.
The Prize was celebrated by the media, writers, readers, and the publishing industry, making a firm mark on the national book prize landscape and has returned for 2021-22.
## **GETTING BETTER EXHIBITION**
In 2020, the Portico Library’s public programme focused on producing a smaller number of projects but including a greater number and broader range of contributors and participants. This began with an ambitious free exhibition and events series on mental and emotional health and welfare featuring 50 local and international artists titled Talking Sense: The changing vocabulary of mind and brain. The accompanying event, Getting Better, was a public discussion with people who have experienced mental health services, and was fully booked and overwhelmingly popular. Many of the participants requested repeat or follow up events with a similar format. The first
lockdown forced early closure of Talking Sense, at which point the Library responded by creating an online version of the exhibition that included every artwork, book, and interpretation label, plus links to associated materials elsewhere on the website.
## **WHAT IT IS TO BE HERE EXHIBITION**
Although planned as a physical exhibition, What it is to be here: Colonisation and resistance, was quickly adapted and redesigned to open as an online-only project in time to coincide with the 250th anniversary of the first arrival on Gweagal shores of British travellers in 1770. This display shared important items from the Library’s collection, interpreted from the perspectives of people with lived experience of their impact, and was created in partnership with Rene Kulitja from the Ngaanyatjarra, Pitjantjatjara and Yankunytjatjara Women's Council; the Australian Institute of Aboriginal and Torres Strait Islander Studies; Manchester Museum; Dr Helen Idle from the Menzies Centre for Australian Studies; and the Library’s Curator James Moss.
## researchers and partners.
## **WEBSITE INNOVATION AND CONNECTING WITH AUDIENCES**
During the summer, the Library created several new online areas of public programming including the illustrated articles series Off the Shelf, examining books from the collection through the eyes of artists, writers, historians, staff and volunteers; the Activities page, with games, quizzes, and creative ideas to encourage family interaction and learning during and beyond lockdown; and a collection of videos on YouTube, which have so far been viewed over 25,000 times.
In 2020, the Portico’s website welcomed over 37,365 unique visitors (a 37% rise in the same period in 2019) who visited 118,312 pages. Our social media presence has a combined following of 15,315 and our mailing list has around 3,000 subscribers, on average attracting around 30% more engagements than industry averages.
## **EVENTS**
When the Library reopened in September, we were able to install an adapted physical version of the display to share with in-person visitors, which was quickly discovered and incorporated into undergraduate and postgraduate teaching materials by the University of Sheffield’s Conflict, Cultures and (De)Colonisation unit and the University of South Australia’s Education Futures course on social inclusion. The exhibition was also cited as exemplary in the 2021 Journal of Museum Ethnography and sparked productive conversations around future programming with the Library’s
Forming an essential part of the charity’s broader public programme, the Portico’s events programme began with sold out book-binding workshops and a LGBTQ+ history talk from Jill Liddington on Anne Lister’s diaries inside the Library. Mirroring the exhibition programme’s transition to digital, the events, arranged by Aoife Larkin, were delivered online through Zoom and included tarot card creative writing workshops; an in-depth conversation with Portico Prize winner Jessica Andrews; a historical fiction workshop with Sophie Parks; and the
premiere of Ugandan dance expert Aminah Namakula’s Kiganda film that was made specially for the Portico.
A major highlight was arranged with MACFEST Muslim Arts & Culture Festival on the Indian, Persian and Arab roots of the world’s most famous game of strategy, chess. Hosted by the British Museum’s Sushma Jansari and Irving Finkel, the event was a huge success and has now been viewed over 23,000 times.
## **FUN AND GAMES EXHIBITION**
The finale of the 2020 season was an exhibition and events programme called _Fun & Games: Playtime past & present_ , which was designed with both in-person and online interactive elements including a ‘choose your own’ route through the books and artworks on the website and a back-lit shadow puppet display in the Library, created by local school children and the Library’s freelance exhibitions and events assistant Apapat Glynn. This programme incorporated works by artists Birungi Kawooya, Bob Bicknell-Knight, Danielle Brathwaite-Shirley, Gray Wielebinski, Hope Strickland and Polly Tayarachakul.
## **THE PORTCO QUARTERLY GOES DIGITAL**
The Quarterly news and listings booklet continued to be refined in the first two quarters of 2020 before becoming a digital publication with clickable links and moving imagery. Edited by Sarah Hill and designed by Birthday Studios, the new hybrid Quarterly attracted new audiences to the Library’s activities while keeping in touch with those who missed visiting the Portico. Notable highlights included Dr Esther Gomez-Sierra’s Library Treasures
article on Don Quixote at the Portico; Aoife Larkin’s Irish tour of the collection; and Sarah Hill’s Anatomy of a Book, which asked readers to consider how you know your yapped edges from your dirty proofs? When is a book said to be slightly foxed or off its feet? And how big is an elephant folio?
## **PORTICO SADIE MASSEY AWARDS BREAKS SUBMISSION RECORD**
Although the Award’s submission deadline coincided with the first national lockdown, the Library was able to quickly adapt, processing almost 600 entries from school aged children across the UK – the highest number recorded. An online ceremony to celebrate the year’s competition winners was arranged by Award’s co-ordinator Ruth Estevez. Pupils, families and teachers from across the North tuned in for videos and words from the judges and workshop leaders. The feedback we received from all participants was overwhelming, with many expressing gratitude and relief that the competitions were not cancelled. Some of the digital adaptations made to workshop delivery and prizes have proved so popular that we aim to carry them forward.
## **WORKING WITH PUPIL REFERRAL UNITS**
The Library completed important work and developed a deeper and richer relationship with Manchester Secondary Pupil Referral Units as part of the Portico Sadie Massey Awards. This work was supported by funding from The Grocer’s Fund, which sought to support the development of vulnerable young people who require additional support with their emotional and learning development. This great work would not have been possible
with the expertise and guidance of Janet Fitzgerald.
## **AUDIENCE DEVELOPMENT WORK**
Towards the end of 2020, the Library embarked on its first major piece of audience research, inviting members and non-members alike to give us feedback on our public offer and general activities via an online survey. The results of this first survey are a useful reminder not only of what people value about the Portico, but also provide useful pointers for our planning in the future.
## **DEVELOPING THE COLLECTION**
The Portico’s collection remains at the heart of the charity’s activities, feeding the Library’s exhibitions, events programmes, educational work and development plan. The Library continues to add to its collection and invest in the expansion of its services. While the cataloguing process has been put on hold until the new Collections and Access Librarian is in post, the Portico was able to add 55 new books to the Temporary Collection and acquire a fantastic local history archive through a donation by Manchester historian and building conservator Steve Little.
Steve’s generous donation consisted of over 300 items, of which approximately two thirds are books. Perhaps the most fascinating items are Steve’s professional survey reports on various buildings and districts in and around central Manchester, produced for a variety of purposes over the course of three decades. In addition, there is a wide variety of other items including local history pamphlets, tourist flyers,
telephone directories, and more, all of which will enrich the Portico’s already extensive local history collection.
Alongside the Library’s printed and archival collections, the Portico significantly enhanced its digital offering by adding PressReader to its list of services. PressReader gives members the chance to read over seven thousand publications, including daily newspapers and magazines.
2020 also marked the beginning of the Library’s efforts to write a Collections Policy fit for today’s world. Guided by former Librarian Janet Allan and Chair of Book Committee Dorothy Clayton, several sections of the policy have been drafted and will be completed by the new Collections and Access Librarian.
## **ADOPT-A-BOOK**
Despite limited access to the collection during lockdowns, 30 volumes were restored in 2020 with £4,437 being received in donations to enable this to happen. Adoptions included Charles Fellow’s _An Account of Discoveries in_ Lycia (1840) and Robert Lyall’s _The Character of the Russians_ (1823). All were restored by bookbinders Downie Allison and Downie. The process of adopting a book and restoring it for future generations creates a strong connection between Manchester’s communities and the Library’s collection.
## **CONSERVATION AND COLLECTIONS CARE**
The Portico has made huge strides in caring for its collection. This is due largely to the efforts of Tim Higson, an
experienced conservator and book binder who has been a Portico volunteer since his retirement as Senior Conservation Officer at the John Rylands Library. Working closely with Aoife Larkin, they have recruited volunteers to help look after the material condition of the Portico’s books, archives, paintings and other artefacts. During 2020, the team have cleaned a quarter of the Reading Room’s books and repaired 122 books.
Another notable highlight was that Tim also produced a detailed Collection Care policy to enable staff and volunteers to adopt best practice in caring for, and making accessible, rare books, archives, manuscripts and other distinctive and unique materials. As a result, staff and volunteers are now in a better position than ever to support the core functions of
the Library.
## **50 WINDOWS**
During the national lockdown, Wild in Art hosted a free public art trail across Manchester that featured the work of 50 local artists in 50 city centre windows. The Portico was selected as one of the windows and illustrator Apapat Glynn designed the artwork. Taking inspiration from the Fun and Games exhibition, Apapat created an innovative collage of characters from Joseph Strutt's The sports and pastimes of the people of England to represent the idea of transformation in challenging circumstances. The initiative inspired new audiences to seek out the Library, including many families who sought to tick off each window.
Portico Prize winner Jessica Andrews accepting her award in the Library. Photo credit: Andrew Brooks
## REPORT OF THE TRUSTEES
## **INTRODUCTION**
The Trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The Trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
The Charity's objectives and aims, as set out in the company's Memorandum & Articles of Association, are for the advancement of education, literacy, the diffusion of knowledge and the provision of literature for the development and widening of public interest in matters of literacy, artistic, scientific and technical interest of every kind; to conduct a library in the premises at Mosley Street, Manchester and buy or hire and lend books, magazines, music, periodicals and publications generally.
the Trustees refer to the Charity Commission's guidance on public benefit. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.
The Trustees do not identify any potential detriment or harm arising from the activities of the Charity.
The Portico Library is open free to the public six days a week and welcomes tens of thousands of visitors and users each year who enjoy an eclectic public programme of live events, activities and exhibitions. The Portico is an important part of Manchester’s heritage, a regular venue on the city’s tourist trail and an active partner in the City’s UNESCO City of Literature development.
Our community activity and education projects target hard to reach groups including people with learning disabilities, living in poverty & disadvantage, with poor educational attainment and mental health issues. Demand for our projects has increased, especially through the pandemic. We have seen the positive effect of facilitated learning and discovery with those for whom a traditional learning environment doesn’t work. During 2020 we partnered with the following groups and organisations:
## **PUBLIC BENEFIT**
The Trustees review the aims, objectives and activities of the Charity each year. During this review and when planning its future activities,
- 100 Great Black Britons
- 42nd Street
- Arthur Wharton Foundation
- Australian Institute of Aboriginal and Torres Strait Islander Research
- Back on Track
- British Museum
- Elizabeth Gaskell’s House
- Greater Manchester Coalition of Disabled People
- Greenhill Academy
- King’s College London
- Liverpool John Moores University
- Louise da Cocodia Foundation
- Mad Pride
- Manchester Games Studies Network
- Manchester Museum
- Menzies Australia Institute
Young Person/Student Membership is available to anyone under 25 or has a valid National Student Union card at a two-thirds the ordinary annual rate for Town membership. This is one of the fastest growing memberships (21 new additions).
The Portico celebrates writing in the North and has a long-standing association with Northern writers, editors, publishers, and booksellers. This support has led to the Portico becoming a key part of Manchester's literary scene, most notably through its prizes.
- Nous Magazine
- Ngaanyatarra Pitjantjatjarra Yankunytjatjara Women’s Council
- Outside In
- Read Manchester
- Sheffield Uni
- Survivors Manchester
- The Writing Squad
- Turing Trust
- UNESCO Manchester City of Literature
- Venture Arts
Library membership is open to all. Members include writers, academics, researchers, artists and designers who contribute greatly to the region’s cultural, intellectual and social landscape
The Portico Sadie Massey Awards encourage a life-long love of reading and writing in young people from all backgrounds. The Awards also serve schools across Greater Manchester by delivering workshops led by some of Manchester’s most respected ambassadors of children’s and young adult’s writing, with a particular emphasis on exploring stories based in the North of England. The Portico Prize aims to celebrate the diversity of the North of England and to engage public interest in Northern stories, voices, and places.
## **REVIEW OF OPERATIONS DURING THE YEAR**
## **COVID-19**
The Covid-19 pandemic had a seismic impact on the Library’s operations, whether that be finances, activities, business model and development plans.
It disrupted the Library’s ability to raise funds, with income falling by approximately £50k from fewer donations, subscriptions, catering, shop, ticket sales and hire fees. In April, we also had to take the unfortunate step of reducing staff numbers in the kitchen.
The Library took quick steps to reduce the impact of the closures. During the first lockdown, the Portico worked to reduce costs and operational overheads. The Portico did this by using the government’s Job Retention Scheme (furloughed staff continued to receive 100% of their normal wage); cutting operational budgets for catering; stopping all non-essential costs and cutting professional fees where possible.
The pandemic required the Portico to adapt its operating model to respond to closures - visitor numbers reduced by approximately 85% for the year. In response, the Library moved events, exhibitions, workshops and educational programming online to generate vital revenue and attract new audiences. These new services were hosted on the Library’s redeveloped website. The staff worked remotely from home and adapted very well to the change in working conditions.
The Portico responded to the enforced reduction in services by investing in new online newspaper and magazine
subscriptions to appeal to the membership; lines of communication with the subscribers were improved and additional free three month period of membership was offered.
Following the government’s easing of lockdown measures the Portico
successfully reopened after undertaking several risk assessments in July. An online booking system was introduced, as was a one-way system and extensive cleaning rota. A book quarantine area was created where volumes were isolated for 48hrs to mitigate the risk of spreading the virus. The Library’s Covid-19 Secure assessments were published online.
## **FUNDRAISING**
During 2020, the Library began working with a professional fundraiser for the first time, employing Charlotte Platt RPA to assist with supporting the Library’s public programme and development plans. Charlotte provided help by identifying grants, creating timelines for delivery, providing feedback on applications, and continuing to communicate and support the development of a strong offer for funders. The consultation Charlotte has offered has been crucial to the progress made during the year, and included securing emergency grants from NLHF and later in the year with the Architectural Heritage Fund.
Funds were secured to support the Portico Sadie Massey Awards from the Grocers Fund and Granada Foundation. An application to the Foyle Foundation to bolster this work was submitted for 2021. This work will also seek to create stronger links with the other charities in Manchester that support literacy, libraries
and books (including Manchester UNESCO City of Literature), with the aim of creating clearer and better supported pathways leading to opportunities for young people, particularly those from underserved communities such as disabled people, people of colour, people who identify as LGBTQ+, Young Carers and people in economically deprived circumstances
A successful application to the Zochonis Charitable Trust (£5k) was made in April to support the exhibition programme.
## **VOLUNTEERS**
The Library is very grateful to all the volunteers who have contributed their time and energy to keep the Library running and deliver the public programme. These include: Freddie Hankin, Filine Wagner, Vivien Pencz, Nicole Peeters, Kaya Peters, Ellie Holly, Erika Tucker, Thu Le, Abdulhameed Aldurayhee, Helen Abdul, Alice Hunter Safiya Embashi, Catherine Fraser, Ruth Estevez, Apapat Jai-in Glynn.
Special thanks go to Collections Care volunteer Tim Higson, who has brought the Library on leaps and bounds in how it conserves and protects its books.
## **MEMBERSHIP**
Total membership numbers began the year at 354 and finished at 302.The biggest drop was in Town membership as 39 members did not renew, presumably as they were restricted to working from home. It was pleasing to see a reversal in this trend when the Library reopened towards the end of the year where we attracted 13 new Town members in a relatively short period of time. These new members advised their main reason for joining was to have a beautiful space to work in after months of looking at their own four walls. We expect this trend continue in 2021.
During the lockdown months the staff took the opportunity to develop a digital side to the membership introducing a member only area on the website with access to PressReader, The Mill digital newspaper and a members discussion forum.
|5-year membership
figures|**2016**|**Inc.**
**Joint**|**2017**|**Inc.**
**Joint**|**2018**|**Inc.**
**Joint**|**2019**|**Inc.**
**Joint**|**2020**|**Inc.**
**Joint**|
|---|---|---|---|---|---|---|---|---|---|---|
|_Town_|_78_||_87_||_94_||_98_||_72_||
|_Joint Town_|_10_|_(20)_|_7_|_(14)_|_6_|_(12)_|_6_|_(12)_|_7_|_(14)_|
|_Country_|_36_||_37_||_44_||_45_||_34_||
|_Joint Country_|_4_|_(8)_|_5_|_(10)_|_5_|_(10)_|_3_|_(6)_|_3_|_(6)_|
|_Retired_|_138_||_155_||_153_||_149_||_132_||
|_Joint Retired_|_19_|_(38)_|_17_|_(34)_|_11_|_(22)_|_9_|_(18)_|_16_|_(32)_|
|_Young Person/ Student_|_9_||_11_||_12_||_26_||_21_||
|_Life Member_|_3_||_3_||_4_||_4_||_4_||
|_Honorary_|_11_||_4_||_7_||_6_||_6_||
|_Patron_|_7_||_7_||_7_||_7_||_7_||
|_Writer-in-Residence_|_1_||_0_||_0_||_0_||_0_||
|_Artist-in-Residence_|_1_||_0_||_0_||_0_||_0_||
|**Totals**|**_317_**|**_(350)_**|333|(362)|**343**|**(365)**|**354**|**(372)**|**302**|**(354)**|
## **DEVELOPMENT PROJECT**
The year began with high hopes for the Library’s ambitious development project to open up and share its extraordinary heritage and collection with all of the city’s residents and visitors. We hope to reunite all floors of our original Grade II* Listed Building, creating a revitalised, fully accessible venue for literature, learning, and history in the heart of the city.
In late January 2020, we began the process of applying for a £4.5million grant from the NLHF and learnt that we had been successful in passing the Expression of Interest (EOI) stage, permitting us to make a full application.
Between then and the advent of Covid-19 lockdown, we worked on constructing a Development application with a planned submission date of June, a start date of September and a fully operational reunited building by 2024. These plans were rendered undeliverable by Covid, the ensuing periods of lockdown and, most important, the understandable closure of the NLHF’s major awards programme.
## **FINANCE AND RESOURCES COMMITTEE (FRC)**
The Committee was established as a result of the closure of the previous Portico Library Trust as a way of transferring the roles that the Portico Library Trust had with regard to managing the lease for the ground floor and basement, scrutinising the Library’s budgets and accounts, and safeguarding a significant reserve to support the Library if problems arose in respect of lost/reduced lease income. These roles were integrated into the terms of reference of the FRC to which
oversight of other resources - principally staffing - was added.
## **CAFÉ**
2020 was a difficult and challenging year for the Portico Library kitchen. The Covid19 pandemic dominated operations, and the café was closed for the majority of the year. As such, the increase in footfall made in the preceding years was largely undone, and it will take time to make back the ground that was lost.
The year began on a positive note with the busiest January and February recorded in the café’s history. During this period, the Kitchen Assistant, Tracey Edwards, unfortunately decided that she was unable to balance her employment with her responsibilities as a student and resigned her post towards the end of the month. Selina Helliwell was hired as her replacement in early March. In the interim, cover was once again provided by Erica Tucker and Ellie Holly.
The beginning of March marked the end of standard operations for the year. With the announcement of lockdown on 17 March, the kitchen was officially closed. Towards the end of summer, restrictions were lifted in Manchester and in preparation to reopen, the Kitchen Manager, Joe Fenn, returned to work in late August. The café reopened in early September. However, with many office workers still working from home and much of the public still wary of the ongoing pandemic, business levels were very low. They remained that way until Manchester was moved into Tier 3 Covid designation, on 23 October, which meant the café was once again forced to close.
The café would remain closed for the rest of the year.
## **BUILDING**
Old Grade II* buildings, such as the Portico Library, need continuous care. They deteriorate, and previously acceptable elements need upgrading from time to time, all of which must be done in accordance with Listed Building consent rules. The House Committee, with the assistance of heritage architect Rob Chambers helped guide the following achievements:
- Renewed the emergency lighting in the entrance stairwell.
- Improved the immediate internal image by redecorating the entrance stairwell.
- Continued to develop the necessary range of safe working policies and other protocols, consistent with a compliant and forward-thinking employer.
- Future proofed the premises by planning for the installation of:
- a new roof access provision meeting contemporary standards.
- a replacement roof drainage system to improve capacity compatible with contemporary needs.
- Monitored the development work at 53-55 Mosley St (next door) so as to ensure, so far as we are able, that it does not adversely affect our building.
- Developed a ‘Risk register’, in accordance with good governance, relating to house matters, to
identify risks and the desirable mitigation.
## **FUTURE PLANS**
Covid-19 is set to have long-lasting consequences for the Portico and recovery will take many years. Fortunately, this has not distracted the Library’s ambitious team from looking to build an exciting and sustainable future. The key objectives include:
- Creating a welcoming and inclusive library that represents Manchester’s communities and is accessible to all.
- Delivering the Library’s development project.
- Developing ways to reach greater numbers and more diverse visitors and users.
- Maintaining the Library on a sustainable financial footing for future generations.
- Making fundraising a bigger part of the Library’s income.
- Writing a Collections Policy for the first time.
- Through co-curation writing the Library’s future audience development plan.
- Sustainably growing the Library’s membership and building a digital membership option.
- Rethinking the Library’s recruitment processes so that we become more diverse and inclusive.
- To improve the Portico’s ability to provide digital services through the acquisition of a superfast broadband connection.
## **OBITUARIES**
## **JENNIFER PALMER**
Jennifer Palmer was a doer – and she was a happy, cheerful doer. She joined the Book Committee some years after she joined the Library, and she wasn’t just going to attend and listen to its deliberations. She wanted to do something. The first time we saw Jennifer in action was when we were having a discussion on Collection-related exhibitions. We must have been talking about how people dressed in the Georgian and Victorian period of the Library and Jennifer came up with the idea of having an exhibition on costume! We had plenty in the collection to complement this but Jennifer thought we needed the costumes and so she opened up a dialogue with the Royal Exchange Company and other organisations that would help us to get costumes and accessories on display. We just left her to it and the result was a wonderful exhibition complete with a talk from the Royal Exchange Wardrobe Manager. It was an absolute pleasure working with her on all the aspects of her organisation.
Not one to rest on her laurels we soon discovered Jennifer’s love of crime fiction too, and the next event she organised was an evening of crime! Not one that had the police knocking on our door, of course; Jennifer brought in three crime writers that went down a treat for the audience. Then let’s not forget that as a historian Jennifer was busy researching on her own account, as she was a speaker on historic subjects. She certainly delighted a Portico audience one evening with a talk on Arthur Conan Doyle.
Jennifer loved life and knew how to enjoy it, and she would often come to the Library with a small group of her closest friends to have a boisterous lunch that would make us all want to join in as we could see how much fun they were having. I was in the library very recently and it was lovely to see that group having lunch again – I understand it was to remember Jennifer. It’s no surprise whatsoever that her friends thought so warmly of her.
Although I’m no longer at the Library I was very sad to learn of her passing and know that The Portico has lost a very dear member who was such a great supporter of the Library. I know how much she is missed.
Author: Emma Marigliano, Former Portico Librarian
## **MALCOLM NALL**
Malcolm Nall joined the Portico Library in 1965 aged 21. At this time the Library did not have a picture gallery. The idea was initiated by G Hagan, the Librarian at Granada Television, and the Gallery was created by set builders at Granada and took the form of a wooden structure surrounding the inner dome of the Library. After two years or so the new gallery, although a success, was no longer able to be managed by Mr Hagan. Rachel Horsfield, The Portico Librarian, and the Committee asked Malcolm to take over the running of the gallery. Being ‘on the spot’ because of his business in South King Street it was possible for him to interview prospective artists without delay. This situation, meeting artists, putting on artists exhibitions etc. lasted for seven years with great success. Malcolm had
three one man shows of his own. One in the 1970s, the last being in 1995 and 2005. He continued to be involved in the Gallery, sitting on most of the subcommittees and for a time on the main committee. In 1996 he was made an Honorary Life Member of the Library in recognition of his long devotion to its work.
Malcolm was a pupil at the Manchester High School of Art and a Graduate of the Regional College of Art (Fine Art Painting).
## **VIVIENNE JEAN YOUNG**
Vivienne sadly passed away in 2020. She will be fondly remembered by Portico staff and members as an enthusiastic supporter of the Library’s public programme, regularly attended Portico events with her good friend Helen Smith. She will be sorely missed.
## **FINANCIAL REVIEW**
The Library ended 2020 with a net surplus of £218,721. This was achieved largely through a restricted donation from the now dissolved Portico Library Trust (£194,506) and Covid emergency funds from Manchester City Council (£25,000). These donations, particularly those that are unrestricted, mask the detrimental impact the pandemic has had on the Library’s financial position.
The Portico’s usual operational activity was down approximately £50k. Membership subscriptions declined by over £4k and the Library’s other trading activity in events, book sales, exhibition and print sales, and the café dropped by 50%. Cuts to operational overheads also proved essential to mitigate further losses.
The Library’s financial accounts still demonstrate the transition from Association to Charitable accounts. The previous year saw several assets, including the building, brought into the Library’s accounting process. Such changes still make it challenging to assess and compare the Library’s operating position. This has been made more complicated by the impact of Covid in terms of income and expenditure. Despite these obvious caveats, the Library ended the calendar year with an operating surplus of approx. £23k.
The Trustees are satisfied with the financial results and position set out within the financial statements for the 12-month period of activity.
available funds in an interest bearing deposit account and seek to achieve a rate on deposit which matches or exceeded inflation as measured by the retail prices index. Due to wider economic circumstances deposit rates have been depressed and this aim has not been achieved in the year.
## **RESERVES POLICY**
The Trustees have examined the Charity's requirements for reserves in light of the main risks to the organisation. Trustees are committed to generating sufficient reserves to support current organisational activities and to meet the following requirements: -
- safeguarding the Charity's service commitment in the event of delays in receipt of grants or other income
- providing a financial cushion against risk and future uncertainties
- resourcing the research and development of services and initiatives
To this end, the Trustees have established a reserves policy that is reviewed annually to ensure that the appropriate levels of reserves are maintained. The Trustees are aware of the view that reserves should not be set too high, tying up funds which could and should be spent on charitable activities.
## **INVESTMENT POLICY AND OBJECTIVES**
The Trustees, having regard to the liquidity requirements of operating the Library and Newsroom, have kept
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **GOVERNING DOCUMENT**
The charity is controlled by its governing document (Articles of Association), a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **CHARITY CONSTITUTION**
The Portico Library and Newsroom Limited is constituted under the Companies Act 2006 and is a registered charity, number 1143639. The company was incorporated in January 2011.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
## **KEY MANAGEMENT REMUNERATION**
All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts.
## **APPOINTMENT AND RETIREMENT OF TRUSTEES**
Trustees other than the Chair, Treasurer and Secretary serve for three years before retiring by rotation but are eligible for immediate re-election for one further three-year term. Each year, a Trustee Recruitment Group appointed by the Trustees reviews the balance of skills and
experience amongst the Trustees and determines appropriate timescale and the details for advertising any vacancies. The Trustee Recruitment Group interviews those candidates most closely matching the requirements before recommending to the Board of Trustees the suitable candidate(s) to go forward for election by members at the AGM. The Trustee Recruitment Group includes a non-trustee member of the Library with specialist skills and experience in the field of recruitment and governance.
All new Trustees are given online access to an induction manual covering the duties and responsibilities of Trustees, all aspects of the Library’s governance and management procedures, and relevant documents of record, including the minutes of meetings for the past year and recent policy and strategy papers. Introductory meetings are held with key members of staff, and support is available from the Chair and other Trustees.
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees (who are also the directors of The Portico Library and Newsroom for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the
incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 auditors are unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
## **AUDITORS**
The auditors, BTMR Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the Board of Trustees on 26 October 2021 and signed on its behalf by:
Ms K A Graham - Secretary
## REPORT OF THE INDEPENDENT AUDITORS
## **OPINION**
We have audited the financial statements of The Portico Library and Newsroom (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statement:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **BASIS FOR OPINION**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards
are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **CONCLUSIONS RELATING TO GOING CONCERN**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **OTHER INFORMATION**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENT**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- we identified the significant laws and regulations applicable to the
charitable company which we considered could have a direct material effect on the financial statements or the operations of the charitable company. Said laws and regulations include but are not limited to, the Companies Act 2006, taxation legislation and data protection, anti-bribery and employment legislation;
- the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of noncompliance throughout the audit.
We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur. We also addressed the risk of fraud through management bias and override of controls by;
- updating and reviewing our knowledge of the charitable company, its officers and internal financial function, together with their systems and internal controls. This included making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and
- - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. We concluded that whilst the charitable company had controls in place that were appropriate to its size and the nature of its activities, we could not rely on those systems and internal controls exclusively for the purposes of our audit work. We therefore adopted a substantive and transactional approach to our
audit, seeking to verify figures in the balance sheet to third party evidence and transactions within the Income Statement to external independent documentation;
- We did not review every transaction. However, we adopted an approach based on testing a sample of transactions. In choosing our sample, we tested transactions that were material in nature and in addition a random sample of other transaction. By choosing transactions of a material nature, our audit work is designed to detect material misstatements. The use of random testing on other transactions is designed to detect other irregularities and the operation of the charitable company's internal control systems generally. If exceptions were noted, our audit work was expanded to test more transactions with a view to determining whether the exception was of an isolated nature;
- We performed analytical procedures to identify any unusual or unexpected relationships;
- We tested journal entries to identify unusual transactions and investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **USES OF OUR REPORT**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **BTMR Limited**
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Century Buildings 14 St Mary's Parsonage Manchester M3 2DF
Date: 3.12.21
## **STATEMENT OF FINANCIAL ACTIVITES**
## **for the year ended 31 December 2020**
|Notes
**INCOME AND ENDOWMENTS**
**FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
Charitable
6
**Total**
**NET INCOME (EXPENDITURE)**
**Transfers between funds**
17
**Other recognised gains/(losses)**
Gains on revaluation of fixed
assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**|31.12.20
31.12.19
Unrestricted
funds
Restricted
funds
Total
funds
Total
funds
£
£
£
£
**58,700**
**279,218**
**337,918**
259,314
**125,751**
125,751
63,572
**-**
**-**
**-**
9
**54,601**
**-**
**54,601**
-|
|---|---|
||**239,052**
**279,218**
**518,270**
322,895|
||**77,596**
**15,150**
**92,746**
115,633
**184,600**
**22,203**
**206,803**
273,501|
||**262,196**
**37,353**
**299,549**
389,134|
||**(23,144)**
**241,865**
**218,721**
(66,239)
**16,390**
**(16,390)**
**-**
-|
||**-**
**-**
**-**
7,283,407|
||**(6,754)**
**225,475**
**218,721**
7,217,168
**7,309,311**
**71,765**
**7,381,076**
163,908|
||**7,302,557**
**297,240**
**7,599,797**
7,381,076|
The notes form part of these financial statements
## **BALANCE SHEET**
## **for the year ended 31 December 2020**
|Notes
**FIXED ASSETS**
Tangible assets
12
Heritage assets
13
**CURRENT ASSETS**
Stocks
14
Debtors
15
**CREDITORS**
Amounts falling due within one
year
16|Unrestricted
funds
Restricted
funds
£
£
**6,149,522**
**-**
**1,059,000**
**-**|31.12.20
31.12.19
Total
funds
Total
funds
£
£
**6,149,522**
6,186,743
**1,059,000**
1,059,000|
|---|---|---|
||**7,208,522**
**-**
**489**
**-**
**30,184**
**-**
**103,945**
**279,218**|**7,208,522**
7,245,743
**489**
741
**30,184**
8,302
**401,185**
148,267|
||**134,618**
**297,240**|**431,858**
157,328|
||**(40,583)**
**-**|**(40,583)**
(21,995)|
|**NET CURRENT ASSETS**|**94,035**
**297,240**|**391,275**
135,333|
|**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
General fund
Designated funds
Restricted funds
Restricted fund
**TOTAL FUNDS**|**7,302,557**
**297,240**|**7,599,797**
7,381,076|
||**7,302,557**
**297,240**|**7,599,797**
7,381,076|
|||**7,300,310**
7,302,911
**2,247**
6,400|
|||**7,302,557**
7,309,311|
|||**297,240**
71,765|
|||**7,599,797**
7,381,076|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
.
L. M. Allan - Trustee
.
K. Phillips - Trustee
The notes form part of these financial statements
## **CASH FLOW STATEMENT for the year ended 31 December 2020**
|Notes
**Cash flows from operating**
**activities**
Cash generated from
operations
1
Net cash provided by/(used in)
operating activities
**Cash flows from investing**
**activities**
Purchase of tangible fixed
assets
Interest received
Net cash used in investing
activities
**Change in cash and cash**
**equivalents in the reporting**
**period**
**Cash and cash equivalents at**
**the beginning of the reporting**
**period**
**Cash and cash equivalents at**
**the end of the reporting period**|31.12.20
31.12.19
£
£
**253,078**
(15,076)|
|---|---|
||**253,078**
(15,076)|
||**(160)**
(3,780)
**-**
9|
||**(160)**
(3,771)|
||252,918
(18,849)
148,267
167,116|
||401,185
148,267|
The notes form part of these financial statements
## **NOTES ON THE CASH FLOW STATEMENT for the year ended 31 December 2020**
|1. **RECONCILIATION OF NET INCOME(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**
**31.12.20**
**31.12.19**
£
£
**Net income/(expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
**218,721**
(66,239)
**Adjustments for:**
(15,076)
Depreciation charges
**37,380**
46,687
Loss on disposal of fixed
assets
**-**
2,594
Interest received
**-**
(9)
Stock Revaluation
**-**
540
Decrease/(increase) in stocks
**253**
(541)
Increase in debtors
**(21,864)**
(1,110)
Increase in creditors
**18,588**
3,000
**Net cash provided by/(used in) operations**
253,078
(15,078)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20
Cash Flow
**At 31.12.20**
**£**
£
**£**
**Net cash**
Cash at bank and in hand
**148,267**
**252,918**
**401,185**
**148,267**
**252,918**
**401,185**
Total
**148,267**
**252,918**
**401,185**|1. **RECONCILIATION OF NET INCOME(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**
**31.12.20**
**31.12.19**
£
£
**Net income/(expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
**218,721**
(66,239)
**Adjustments for:**
(15,076)
Depreciation charges
**37,380**
46,687
Loss on disposal of fixed
assets
**-**
2,594
Interest received
**-**
(9)
Stock Revaluation
**-**
540
Decrease/(increase) in stocks
**253**
(541)
Increase in debtors
**(21,864)**
(1,110)
Increase in creditors
**18,588**
3,000
**Net cash provided by/(used in) operations**
253,078
(15,078)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20
Cash Flow
**At 31.12.20**
**£**
£
**£**
**Net cash**
Cash at bank and in hand
**148,267**
**252,918**
**401,185**
**148,267**
**252,918**
**401,185**
Total
**148,267**
**252,918**
**401,185**|1. **RECONCILIATION OF NET INCOME(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**
**31.12.20**
**31.12.19**
£
£
**Net income/(expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
**218,721**
(66,239)
**Adjustments for:**
(15,076)
Depreciation charges
**37,380**
46,687
Loss on disposal of fixed
assets
**-**
2,594
Interest received
**-**
(9)
Stock Revaluation
**-**
540
Decrease/(increase) in stocks
**253**
(541)
Increase in debtors
**(21,864)**
(1,110)
Increase in creditors
**18,588**
3,000
**Net cash provided by/(used in) operations**
253,078
(15,078)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20
Cash Flow
**At 31.12.20**
**£**
£
**£**
**Net cash**
Cash at bank and in hand
**148,267**
**252,918**
**401,185**
**148,267**
**252,918**
**401,185**
Total
**148,267**
**252,918**
**401,185**|1. **RECONCILIATION OF NET INCOME(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**
**31.12.20**
**31.12.19**
£
£
**Net income/(expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
**218,721**
(66,239)
**Adjustments for:**
(15,076)
Depreciation charges
**37,380**
46,687
Loss on disposal of fixed
assets
**-**
2,594
Interest received
**-**
(9)
Stock Revaluation
**-**
540
Decrease/(increase) in stocks
**253**
(541)
Increase in debtors
**(21,864)**
(1,110)
Increase in creditors
**18,588**
3,000
**Net cash provided by/(used in) operations**
253,078
(15,078)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20
Cash Flow
**At 31.12.20**
**£**
£
**£**
**Net cash**
Cash at bank and in hand
**148,267**
**252,918**
**401,185**
**148,267**
**252,918**
**401,185**
Total
**148,267**
**252,918**
**401,185**|
|---|---|---|---|
|||253,078|(15,078)|
|||Cash Flow
£
**252,918**|**At 31.12.20**
**£**
**401,185**|
||**148,267**|**252,918**|**401,185**|
||**148,267**|**252,918**|**401,185**|
The notes form part of these financial statements
## **NOTES TO THE FINANCIAL STATEMENT for the year ended 31 December 2020**
## 1. **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated Plant and machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance Computer equipment - 20% on reducing balance
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
## **2. DONATIONS AND LEGACIES**
|Donations
Gift aid
Subscriptions
Portico Library Trust
Zochonis Mental Health project
Adopt a book
MMU Portico Prize donation
Sadie Massey project
Heritage Lottery Fund donation
Zochonis Games Exhibition fund
**3.**
**OTHER TRADING ACTIVITIES**
Rent received
Lettings and events
Gallery exhibitions
Catering income
Books and periodicals sales
Advertising income
Other income
Outreach
Photocopying income
Sponsorship
Cornice project
Prize entry fees income
**4.**
**INVESTMENT INCOME**
Deposit account interest|**31.12.20**
**31.12.19**
£
£
**2,731**
10,737
**8,076**
-
**42,612**
46,654
**194,506**
85,119
**1,993**
4,079
**-**
15,000
**5,000**
15,000
**35,000**
39,000
**43,000**
43,725
**5,000**
-|
|---|---|
||**337,918**
259,314|
||**31.12.20**
**31.12.19**
£
£
**95,869**
-
**12,075**
25,388
**3,725**
4,710
**6,774**
20,127
**3,793**
5,718
**417**
333
**1,900**
270
**-**
671
**30**
261
**-**
1800
**-**
2,002
**1,168**
2,292|
||**125,751**
63,572|
||**31.12.20**
31.12.19
**£**
£
**-**
9|
|**5.**
**RAISING FUNDS**
**Other trading activity**
Staff costs
Catering costs
Books and periodicals
Event costs
Gallery costs
Prize entry fees
Workshop costs
Exhibition costs
Judges fees|**31.12.20**
31.12.19
**£**
£
**65,045**
54,902
**3,539**
16,857
**8,876**
12,278
**3,178**
9,379
**1,315**
258
**1,590**
8,988
**3,778**
7,903
**2,989**
3,068
**2,436**
2,000|
|---|---|
||**92,746**
115,633|
|**6.**
**CHARITABLE ACTIVITIES COSTS**
Charitable
**7.**
**GRANTS PAYABLE**
**8.**
**SUPPORT COSTS**
Management
£
**40,431**|**6.**
**CHARITABLE ACTIVITIES COSTS**
Charitable
**7.**
**GRANTS PAYABLE**
**8.**
**SUPPORT COSTS**
Management
£
**40,431**|Direct
costs
Grant
funding of
activities
(see note 7)
£
£|Support
costs (see
note 8)
Totals
£
£|
|---|---|---|---|
|||110,704
15,001|81,098
206,803|
|||Finances
Information
technology
£
£|**31.12.20**
31.12.19
£
£|
||||15,001|
||||Governance
costs
Totals
£
£|
||**40,431**|**505**
**2,373**|**37,789**
**81,098**|
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting)
||**31.12.20**|31.12.19|
|---|---|---|
||**£**|£|
|Auditors' remuneration|**500**|500|
|Depreciation - owned assets|**37,381**|46,686|
|Deficit on disposal of fixed assets|**-**|2,594|
## **10. TRUSTEES’ RENUMERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**31.12.20**
31.12.19
**£**
£
**127,176**
121,327
**5,060**
4,193
**2,439**
1,938|
|---|---|
||**134,675**
127,458|
The average monthly number of employees during the year was as follows
|No employees received emoluments in excess of £60,000
**12.**
**TANGIBLE FIXED ASSETS**
Freehold
property
Plant and
machinery
Fixtures
and fittings
£
£
£
**COST**
At 1 January 2020
**6,000,000**
**3**
**228,538**
Additions
**-**
**-**
**-**
At 31 December
**6,000,000**
**2**
**228,538**
**DEPRECIATION**
At 1 January 2020
**-**
**1**
**45,832**
Charges for year
**-**
**-**
**36,542**
At 31 December 2020
**-**
**1**
**82,374**
**NET BOOK VALUE**
At 31 December 2020
**6,000,000**
**2**
**146,164**
At 31 December 2019
6,000,000
2
182,706
**13.**
**HERITAGE ASSETS**
**MARKET VALUE**
At 1 January 2020 and 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|No employees received emoluments in excess of £60,000
**12.**
**TANGIBLE FIXED ASSETS**
Freehold
property
Plant and
machinery
Fixtures
and fittings
£
£
£
**COST**
At 1 January 2020
**6,000,000**
**3**
**228,538**
Additions
**-**
**-**
**-**
At 31 December
**6,000,000**
**2**
**228,538**
**DEPRECIATION**
At 1 January 2020
**-**
**1**
**45,832**
Charges for year
**-**
**-**
**36,542**
At 31 December 2020
**-**
**1**
**82,374**
**NET BOOK VALUE**
At 31 December 2020
**6,000,000**
**2**
**146,164**
At 31 December 2019
6,000,000
2
182,706
**13.**
**HERITAGE ASSETS**
**MARKET VALUE**
At 1 January 2020 and 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|**31.12.20**
**6**|31.12.19
5|
|---|---|---|---|
|||Computer
equipment
£
**5,077**
**160**|Totals
£
**6,233,618**
**160**|
||**6,000,000**
**2**
**228,538**|**5,237**|**6,233,776**|
||**-**
**1**
**45,832**
**-**
**-**
**36,542**|**1,042**
**839**|**46,875**
**37,381**|
||**-**
**1**
**82,374**|**1,881**|**84,256**|
||**6,000,000**
**2**
**146,164**|**3,356**|**6,149,522**|
||6,000,000
2
182,706
December 2020|4,035|6,186,743
Total
**£**
**1,059,000**|
||||**1,059,000**|
||||1,059,000|
## **14. STOCKS**
|Finished goods
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments and accrued income
**16.CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Portico Library Trust
Accruals and deferred income
**17.**
**MOVEMENT IN FUNDS**
At 1.1.20
Net
movement
in funds
£
£
**Unrestricted funds**
General fund
7,302,911
4,977
Designated fund
6,400
(28,121)
**7,309,311**
**(23,144)**
**Restricted funds**
Restricted fund
71,765
241,865
**TOTAL FUNDS**
7,381,076
218,721|Finished goods
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments and accrued income
**16.CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Portico Library Trust
Accruals and deferred income
**17.**
**MOVEMENT IN FUNDS**
At 1.1.20
Net
movement
in funds
£
£
**Unrestricted funds**
General fund
7,302,911
4,977
Designated fund
6,400
(28,121)
**7,309,311**
**(23,144)**
**Restricted funds**
Restricted fund
71,765
241,865
**TOTAL FUNDS**
7,381,076
218,721|**31.12.20**
31.12.19
**£**
£
**489**
741|
|---|---|---|
||||
|||**31.12.20**
31.12.19
**£**
£
**23,561**
2,608
**2,568**
-
**843**
2,598
**3,212**
3,114|
|||**30,184**
8,320|
|||**31.12.20**
31.12.19
**£**
£
5,970
4,964
-
1,842
-
4,331
34,613
10,858|
|||**40,583**
21,995|
|||Transfers
between
funds
At 31.12.20
£
£
(7,578)
7,300,310
23,968
2,247|
||**7,309,311**
**(23,144)**
71,765
241,865|**16,390**
**7,302,557**
(16,390)
297,240|
||7,381,076
218,721|-
7,599,797|
Net movement in funds, included in the above are as follows
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1.1.19
£
74,574
34,579|Incoming
resources
Resources
expended
Movement
in funds
£
£
£
**232,884**
**(227,907)**
**4,977**
**6,168**
**(34,289)**
**(28,121)**|
|---|---|---|
|||**239,052**
**(262,196)**
**(23,144)**
**279,218**
**(37,353)**
**241,865**|
|||**518,270**
**(299,549)**
**218,721**|
|||Net
movement
in funds
Transfers
between
funds
At 31.12.19
£
£
£
7,228,337
-
7,302,911
(23,950)
(4,229)
6,400|
||109,153
54,755|7,204,387
(4,229)
7,309,311
12,781
4,229
71,765|
||163,908|7,217,168
-
7,381,076|
## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
£
£
£
£
207,878
(262,948)
7,283,407
7,228,337
2,292
(26,242)
-
(23,950)|
|---|---|
||210,170
(289,190)
7,283,407
7,204,387
112,725
(99,944)
-
12,781|
||322,895
(389,134)
7,283,407
7,217,168|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|At 1.1.19
Net
movement
in funds
Transfers
between
funds
At 31.12.19
£
£
£
£
74,574
7,233,314
(7,578)
7,300,310
34,579
(52,071)
19,739
2,247|
|---|---|
||109,153
7,181,243
12,161
7,302,557
54,755
254,646
(12,161)
297,240|
||163,908
7,435,889
-
7,599,797|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated funds
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
£
£
£
£
440,762
(490,855)
7,283,407
7,233,314
8,460
(60,531)
-
(52,071)|
|---|---|
||449,222
(551,386)
7,283,407
7,181,243
391,943
(137,297)
-
254,646|
||841,165
(688,683)
7,283,407
7,435,889|
## **18. RELATED PARTY DISCLOSURE**
There were no related party transactions for the year ended 31 December 2020.
## **19. LIMITED BY GUARANTEE**
The charitable company is limited by guarantee and the liability of the members is limited. Every proprietor of the charitable company promises, if the charitable company is dissolved while he or she or it is a proprietor or within twelve months after he or she or it ceases to be a proprietor, to contribute such sum (not exceeding £1) as may be demanded of him or her or it towards the payment of the debts and liabilities of the charitable company incurred before he or she or it ceased to be a proprietor, and of the costs charges and expenses of winding up, and the adjustment of the rights of the contributors among themselves.
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Subscriptions
Portico Library Trust
Adopt a book
Zochonis Mental Health project
MMU Portico Prize donation
Sadie Massey project
Heritage Lottery Fund donation
Zochonis Games Exhibition fund
**Other trading activities**
Rent received
Lettings and events
Gallery exhibitions
Catering income
Books and periodicals sales
Advertising income
Other income
Outreach
Photocopying income
Sponsorship
Cornice project
Prize entry fees income
**Investment income**
Deposit account interest
**Other income**
Coronavirus Job Retention Scheme
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Wages
Social security
Catering costs
Books and periodicals
Event costs|**31.12.20**
**31.12.19**
£
£
**2,731**
10,737
**8,076**
-
**42,612**
46,654
**194,506**
85,119
**1,993**
4,079
**-**
15,000
**5,000**
15,000
**35,000**
39,000
**43,000**
43,725
**5,000**
-|
|---|---|
||**337,918**
259,314
**95,869**
-
**12,075**
25,388
**3,725**
4,710
**6,774**
20,127
**3,793**
5,718
**417**
333
**1,900**
270
**-**
671
**30**
261
**-**
1,800
**-**
2,002
**1,168**
2,292|
||**125,751**
63,572
31.12.20
31.12.19
£
£
**-**
9
**54,601**
-|
||**518,270**
322,895
**62,378**
53,586
**2,667**
1,316
**3,539**
16,857
**8,876**
12,278
**3,178**
9,379|
|Gallery costs
Prize entry fees
Workshop costs
Exhibition costs
Carried forward
Brought forward
Judges fees
**Charitable activities**
Wages
Social security
Pensions
Sundries
Plant and machinery
Fixtures and fittings
Computer equipment
Loss on sale of tangible fixed assets
Grants to individuals
**Support costs**
**Management**
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising and PR
Cleaning and sundries
Computer costs
Room hire
Staff training
Subscriptions
Travel costs
**Finance**
Bank charges
**Information technology**
Repairs and renewals
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net income/(expenditure)**|**1,315**
258
**1,590**
8,988
**3,778**
7,903
**2,989**
3,068
**90,310**
113,633
**90,310**
113,633
**2,436**
2,000|
|---|---|
||**92,746**
115,633
**64,798**
67,741
**2,393**
2,877
**2,439**
1,938
**3,694**
-
**-**
1
**36,541**
45,677
**839**
1,009
**-**
2,594
**15,001**
-|
||**125,705**
121,837
**1,128**
2,723
**12,478**
1,412
**4,982**
6,139
**1,026**
945
**2,054**
4,514
**2,889**
10,242
**5,478**
11,751
**3,131**
3,740
**2,518**
2,132
**158**
2,879
**3,834**
1,485
**755**
2,824|
||**40,431**
50,786
31.12.20
31.12.19
£
£
**505**
1.651
**2,373**
17,077
**500**
500
**37,289**
81,650|
||**37,789**
82,150|
||**299,549**
389,134|
||**218,721**
(66,239)|
For further information please visit our website or contact us at:
The Portico Library 57 Mosley street Manchester M2 3HY
Telephone: +44(0)161 236 6785
Follow us on: Facebook.com/ThePorticoLibrary I twitter.com/ThePortico I instagram.com/porticolibrary **https://www.theportico.org.uk**