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2021-03-31-accounts

Page
Chair's Report
Trustees'
annual
report (incorporating		 the Strategic Report) 2-11
Statement ofTrustees'
responsibilities		 12
Auditor's
report to the Trustees		 19-15
Statement offinancial activities 16
Consolidated
balance sheet		 17
Cash flow statement 18
Notes to the financial statements 19-28

Executive team Andy Grays (Chief Executive) Andy Grays (Chief Executive)
Sam Singleton
(Finance		 Manager)
Nick Coles (Head of Building and Technical Services)
Rachel Maryan
(General Manager)
Kelly Haswell
(Head of		 Marketing)
Audit and finance committee Simon Frost (Chair)
Andy Grays
Sam Singleton
Mark Turner
Principal address and registered office Portsmouth
Guildhall
Guildhall
Square
Portsmouth
Hampshire
PO1 2AB
Charity number 1153358
Company number 07519927
Auditors and accountants Compass Accountants Limited
Venture
House, The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR
Bankers Co-operative
Bank
91Commercial
Road
Portsmouth
Hampshire
PO11BQ

Unrestricted Unrestricted Restricted 2021 Unrestricted Restricted 2020
funds funds Total funds funds Total
Notes f f E f E E
Income from:
Donations
and legacies
Donations 2 889,571 889,571 273,065 119,500 392,565
Charitable
activities
Operations
ofthe Guildhall		 3 437,712 437,712 1,313,213 1,313,213
Other trading activities
Commercial
trading operations		 15,678 15,678 977,203 977,203
Investment
income		 8,108 8,108 10,476 10,476
Other income 21,496 21,496 7,388 7,388
Total income 1,372,565 1,372,565 2,581,345 119,500 2,700,845
Expenditure
on:
Charitable
activities
Operations
ofthe Guildhall		 6 1,571,153 7,700 1,578,853 2,625,102 7,700 2,632,802
Total expenditure 1,571,153 7,700 1,578,853 2,625,102 7,700 2,632,802
Net gains/(losses)
on investments		 34,746 34,746 (43,102) (43,102)
Net income/(expenditure) (163,842) (7,700) (171,542) (86,859) 111,800 24,941
Transfers between funds 27,724 (27,724)
Net movement
in funds		 (136,118) (35,424) (171,542) (86,859) 111,800 24,941
Reconciliation
offunds:
Total funds brought forward (95,603) 141,192 45,589 (8,744) 29,392 20,648
Total funds carried forward (231,721) 105,768 (125,953) (95,603) 141,192 45,589

Group Group Charity Charity
2021 2020 2021 2020
Notes E 6 6 f
Fixed assets
Tangible assets 12 615,145 655,791 599,171 638,436
Investments 13 184,736 149,990 301 301
799,881 805,781 599,472 638,737
Current assets
Stocks 14 28,054 54,725 28,054 54,725
Debtors 15 275,505 350,673 195,733 225,354
Cash at bank and in hand 959,127 782,229 940,945 769,150
1,262,686 1,187,627 1,164,732 1,049,229
Creditors: amounts falling
due within one year 16 (1,935,485) (1,944,522) (1,851,249) (1,814,309)
Net current assets (672,799) (756,895) (686,517) (765,080)
Total assets less current liabilities 127,082 48,886 (87,045) (126,343)
Creditors: amounts falling due after
one year 17 (250,000) (250,000)
Provisions for liabilities (3,035) (3,297)
Net assets (125,953) 45,589 (337,045) (126,343)
Funds
Unrestricted funds (240,183) (106,844) (442,813) (267,535)
Restricted funds 105,768 141,192 105,768 141,192
Non Charitable Trading funds 8,462 11,241
Total funds 18 (12S,953) 45,589 (337,045) (126,343)

Forthe year ended 31March 2021
Group Group
2021 2020
Cash flows from operating activities:
Net cash provided
by (used in) operating		 activities 209,012 (55,902)
Cash flows from investing
activities:
Interestincome 8,108 10,476
Purchase oftangible fixed assets (40,222) (124,720)
Net cash provided
by (used in) investing		 activities (32,114) (114,244)
Increase/(decrease)
in cash and cash equivalents		 in the year 176,898 (170,146)
Cash and cash equivalents
at1April 2020		 782,229 952,375
Cash and cash equivalents
at 31March		 2021 959,127 782,229
Net income/(expenditure)
for the reporting		 period (171,542) 24,941
Depreciation
and loss on disposal ofassets		 80,868 87,057
Income from investments (8,108) (10,476)
(Gains)/losses
on investments		 (34,746) 43,102
(Increase)/decrease
in stocks		 26,671 (10,131)
(Increase)/decrease
in debtors		 75,168 (24,820)
Increase/(decrease)
in creditors		 (9,037 ) (168,872)
Increase/(decrease)
in long term liabilities		 250,000
Increase/(decrease)
in provisions		 (262 ) 3,297
Net cash provided
by (used in) operating		 activities 209,012 (55,902)

Donations and legacies
Unrestricted 2021 Unrestricted Restricted 2021
funds Total funds funds Total
6 6 6 8 6
Donations and legacies 4,444 4,444 3,897 3,897
Portsmouth City Council —Core funding 177,000 177,000 177,000 177,000
Portsmouth City Council —Capital funding 92,168 119,500 211,668
Culture
Recovery Fund		 214,000 214,000
Coronavirus Job Retention Scheme 494,127 494,127
889,571 889,571 273,065 119,50D 392,565

Unrestricted 2021 Unrestricted 2020
funds Total funds Total
Operations ofthe Guildhall: 6 6 6 6
Venue and events income 327,530 327,530 936,042 936,042
Booking fees 30,474 30,474 117,906 117,906
Tenants income 8,368 8,368 85,357 85,357
Membership
income		 3,762 3,762 7,608 7,608
Restoration fee levy 23,928 23,928 121,641 121,641
Grant income 43,650 43,650 44,659 44,659
437,712 437,712 1,313,213 1,313,213

Unrestricted 2021 Unrestricted 2020
funds Total funds Total
6 E
Barincome 4,767 4,767 442,180 442,180
Catering income 388,958 388,958
Front ofhouse income 47,917 47,917
Fundraising and sponsorship 10,004 10,004 26,412 26,412
VIP income 357 357 14,D94 14,094
Studio income 550 550 57,642 57,642
15,678 15,678 977,203 977,203

Unrestricted Unrestricted Unrestricted 2021 Unrestricted Unrestricted 2020
funds Total funds Total
f f f f
Dividends 8,108 8,108 10,476 10,476
8,108 8,108 10,476 10,476
Costs ofcharitable activities - by fund type
Unrestricted Restricted 2021 Unrestricted Restricted 2020
funds funds Total funds funds Total
f f f f f f
Operations ofthe Guildhall 1,571,153 7,700 1,578;853 2,625,102 7,700 2,632,802
1,571,153 7,700 1,578,853 2,625,102 7,700 2,632,802
Costs ofcharitable activities - by activity
Activities Governance
undertaken and support 2021 2020
directly costs Total Total
f f f f
Operations ofthe Guildhall 383,365 1,195,488 1,578,853 2,632,802
383,365 1,195,488 1,578,853 2,632,802
Analysis ofgovernance and support costs
2021 2020
Total Total
f f
Wages 1,011,575 1,032,851
Social security 68,678 105,751
Pensions 23,329 33,030
Depreciation oftangible assets 80,868 85,048
l.oss on disposal ofassets 1,418
Governance costs
Auditor's remuneration 2,875 2,875
Accountancy fees 8,163 4,560
1,195,488 1,265,533

Employees
2021 2020
E E
Employee costs
Wages and salaries 1,022,682 1,451,651
Social security costs 68,678 105,751
Pension costs 23,329 33,030
1,114,689 1,S90,432
The average number ofemployees during the year was as follows:
2021 2020
87 124

Profit and Loss Account Profit and Loss Account Profit and Loss Account 2021 2020
f f
Turnover 322,185 980,021
Cost ofsales (153,233) (628,984)
Gross Profit 168,952 351,037
Sundry income
Overheads (84,491) (237,051)
Operating
profit before taxation		 84,461 113,986
Tax on profit 262 (3,297)
Retained
profit for the period		 84,723 110,689
Gift aid contribution to The Guildhall Trust (85,842) (66,435)
Retained profit/(loss) brought forward 13,397 (30,857)
Retained profit/(loss) carried forward 12,278 13,397
Called up Ordinary Share Capital 1 1
Capital and reserves 12,279 13,398
Profit and Loss Account Profit and Loss Account 2021 2020
f f
Sundry income 345
Overheads (1,660) (2,501)
Retained profit for the period (1,660) (2,156)
Retained profit/(loss) brought forward (2,156)
Retained profit/(loss) carried forward (3,816) (2,156)
Called up Ordinary
Share Capital		 100 100
Capital and reserves (3,716) (2,056)

Statement of Financial Statement of Financial Activities 2021 2020
f f
Income 8,093 10,476
Expenditure (900) (9,242)
Net gains/(losses) on investments 34,746 (43,102)
Net movement
in		 funds 41,939 (41,868)
Funds brought
forward		 160,691 202,559
Funds carried forward 202,630 160,691
Balance Sheet 2021 2020
6 E
Investments 184,736 149,990
Current assets 18,794 12,943
Current
liabilities		 (900) (2,242)
Net assets 202,630 160,691
Unrestricted
funds		 202,630 160,691
Total funds 202,630 160,691
Tangible fixed assets - Group
Assets under Improvements Plant & Fixtures & Computer
construction to property machinery fittings equipment Total
E 6 E 6 f
Cost or valuation
At 1April 2020 302,380 365,562 148,453 99,005 200,687 1,116,087
Additions 28,669 2,700 4,769 4,084 40,222
Disposals
At 31March 2021 302,380 394,231 151,153 103,774 204,771 1,156,309
Depreciation
At 1April 2020 146,092 102,476 85,097 126,631 460,296
Charge for the year 37,085 16,166 6,614 21,003 80,868
On disposals
At 31March 2021 183,177 118,642 91,711 147,634 541,164
Net book values
At 31March 2021 302,380 211,054 32,511 12,063 57,137 615,145
At 31March 2020 302,380 219,470 45,977 13,908 74,056 655,791

Assets under Improvements Plant & Fixtures & Computer
cons'true'tlon to property machinery fittings equipment Total
E 6 6 6 E
Cost orvaluation
At 1April 2020 302,380 365,562 148,453 99,005 176,651 1,092,051
Additions 28,669 2,700 3,330 4,084 38,783
Disposals
At 31March 2021 302,380 394,231 151,153 102,335 180,735 1,130,834
Depreciation
At 1April 2020 146,092 102,476 85,097 119,950 453,615
Charge for the year 37,085 16,166 6,518 18,279 78,048
On disposals
At 31March 2021 183,177 118,642 91,615 138,229 531,663
Net book values
At 31March 2021 302,380 211,054 32,511 10,720 42,506 599,171
At 31March 2020 302,380 219,470 45,977 13,908 56,701 638,436
Investments
-Group		 Listed
investments Total
E
Valuation
At 1April 2020 149,990 149,990
Revaluations 34,746 34,746
At 31March 2021 184,736 184,736

Company Nature Share Percentage Value of
Company name number ofbusiness class held shareholding shares
E
Solent Cultural Enterprise Limited 07520080 Associate commercial Ordinary 100'Fo
activities ofthe parent
company
Guildhall Security Services Limited 12010327 Provision ofsecurity services Ordinary 1009o 100
Guildhall Event Services Limited 09199939 Dormant company Ordinary 100N 100
Comedy Festivals Limited 09200130 Dormant company Ordinary 100& 100

14. Stocks
Group Group Charity Charity
2021 2020 2021 2020
f f f f
Stocks 28,054 54,725 28,054 54,725
28,054 54,725 28,054 54,725
15. Debtors
Group Group Charity Charity
2021 2020 2021 2020
f f f f
Trade debtors 117,295 102,443 85,091 26,161
Other debtors
Prepayments and accrued income 158,210 248,230 110,642 195,263
Amount owed by group undertakings 3,930
275,505 350,673 195,733 225,354
16. Creditors: amounts
falling		 due within one year
Group Group Charity Charity
2021 2020 2021 2020
f f f f
Trade creditors 20,934 186,766 2D,934 173,324
Other taxes and social security 102,735 101,827 84,498 73,323
Other creditors 16,923 35,566 17,223 34,248
PRScontrol 2,640 2,640
Deferred income 98,D15 93,703 12,419 6,316
Accrued expenditure 55,D04 4,835 52,339 2,4D'1
Ticket income in advance 1,633,391 1,519,185 1,633,391 1,519,185
Loans 8,483 8,483
Amount owing to group undertakings 21,962 2,872
1,935,485 1,944,522 1,851,249 1,814,309
Deferred income
Group Group Charity Charity
2021 2020 2021 2020
f f f
Balance at 1April 2020 96,343 68,750 8,956 8,143
Amounts released to incoming resources (42,115) (68,7SD) (4,058) (8,143)
Amounts deferred in year 43,787 93,703 7,521 6,316
PRS control 2,640 2,640
Balance as at 31March 2021 98,015 68,750 12,419 8,143

Group Group Charity Charity
2021 2020 2021 2020
f f f f
Loans 250,000 250,000
250,000 250,000
Analysis ofnet assets between funds
Tangible Investment
Net		 Current Long term 2021
Fixed Assets Assets Assets Liabilities Total
E f f E f
Unrestricted
funds		 585,179 301 (778,293) (250,000) (442,813)
Restricted funds 13,992 91,776 105,768
Net assets —Charity only 599,171 301 (686,517) (250,000) (337,045)
Linked charity 184,736 17,894 202,630
Non-charitable trading funds 15,974 (301) (7,211) 8,462
Totalnet assets 615,145 184,736 (675,834) (250,000) (125,953)
Tangible investment Net Current 2020
Fixed Assets Assets Assets Total
f E f
Unrestricted
funds		 616,744 301 (884,580) (267,535)
Restricted funds 21,692 119,500 141,192
Net assets —Charity only 638,436 301 (765,080) (1?6,343)
Linked charity 149,990 10,701 160,691
Non-charitable trading funds 17,355 (301) (5,813) 11,241
Total net assets 655,791 149,990 (760,192) 45,589
Restricted funds At At
1April Incoming Outgoing Gains and 31March
2020 resources resources losses 2021
f f f f f
Capital works 21,692 (7,700) 13,992
Portsmouth City Council —Capital grant 119,500 (27,724) 91,776
Total 141,192 (7,700) (27,724) 105,768

At At
1April Incoming OutgoIng Gains and 31March
2019 resources resources losses 2020
E E E E E
Capital works 29,392 (7,700) 21,692
Portsmouth City Council —Capital grant 119,500 119,500
Total 29,392 119,500 (7,700) 141,192

2021 2020
6 f
Within one year 14,724 14,724
Between one and five years 23,995 38,719
38,719 53,443
Analysis ofchanges in net debt
Group Group Charity Charity
2021 2020 2021 2020
E f E f.
Cash at bank and in hand 959,127 782,229 940,945 769,150
959,127 782,229 940,945 769,150

he carrying amou nts
o		 fthe charity's
financial
instruments
are as follo		 ws:
2021 2020
f 6
Financial assets
Debt instruments measured at amortised cost:
-Trade debtors (note 15) 117,295 102,443
-Accrued income (note 15) 111,841 136,868
229,136 239,311
Financial
liabilities
Measured
at amortised		 cost
-Trade creditors (note 16) 20,934 186,766
—Other creditors (note 16) 16,923 35,566
-Other taxes &social security (note 16) 102,735 101,827
—PRS control 2,640
140,592 326,799