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





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





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||Unrestricted|Unrestricted|Restricted|2021|Unrestricted|Restricted|2020|
|---|---|---|---|---|---|---|---|
|||funds|funds|Total|funds|funds|Total|
||Notes|f|f|E|f|E|E|
|Income from:||||||||
|Donations<br>and legacies||||||||
|Donations|2|889,571||889,571|273,065|119,500|392,565|
|Charitable<br>activities||||||||
|Operations<br>ofthe Guildhall|3|437,712||437,712|1,313,213||1,313,213|
|Other trading activities||||||||
|Commercial<br>trading operations||15,678||15,678|977,203||977,203|
|Investment<br>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<br>on:||||||||
|Charitable<br>activities||||||||
|Operations<br>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)<br>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<br>in funds||(136,118)|(35,424)|(171,542)|(86,859)|111,800|24,941|
|Reconciliation<br>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<br>by (used in) operating||activities||209,012|(55,902)|
|Cash flows from investing<br>activities:||||||
|Interestincome||||8,108|10,476|
|Purchase oftangible fixed assets||||(40,222)|(124,720)|
|Net cash provided<br>by (used in) investing||activities||(32,114)|(114,244)|
|Increase/(decrease)<br>in cash and cash equivalents|||in the year|176,898|(170,146)|
|Cash and cash equivalents<br>at1April 2020||||782,229|952,375|
|Cash and cash equivalents<br>at 31March|2021|||959,127|782,229|
|Net income/(expenditure)<br>for the reporting|period|||(171,542)|24,941|
|Depreciation<br>and loss on disposal ofassets||||80,868|87,057|
|Income from investments||||(8,108)|(10,476)|
|(Gains)/losses<br>on investments||||(34,746)|43,102|
|(Increase)/decrease<br>in stocks||||26,671|(10,131)|
|(Increase)/decrease<br>in debtors||||75,168|(24,820)|
|Increase/(decrease)<br>in creditors||||(9,037 )|(168,872)|
|Increase/(decrease)<br>in long term liabilities||||250,000||
|Increase/(decrease)<br>in provisions||||(262 )|3,297|
|Net cash provided<br>by (used in) operating||activities||209,012|(55,902)|





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|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<br>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<br>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|





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|||||||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|



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|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|



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|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<br>profit before taxation||||84,461|113,986|
|Tax on profit||||262|(3,297)|
|Retained<br>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<br>Share Capital||100|100|
|Capital and reserves||(3,716)|(2,056)|





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|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<br>in|funds|||||41,939|(41,868)|
|Funds brought<br>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<br>liabilities||||||(900)|(2,242)|
|Net assets||||||202,630|160,691|
|Unrestricted<br>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|



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||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<br>-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<br>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<br>Net|Current|Long term|2021|
|||||Fixed Assets|Assets|Assets|Liabilities|Total|
|||||E|f|f|E|f|
|Unrestricted<br>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<br>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|



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## 

|||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|



## 

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|||||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<br>o|fthe|charity's<br>financial<br>instruments<br>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<br>liabilities||||||
|Measured<br>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|