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2022-03-31-accounts

Page
Chair's Report
Trustees' annual
report (incorporating		 the Strategic Report) 2-13
Statement ofTrustees'
responsibilities		 14
Auditor's report to the Trustees 15 - 17
Statement offinancial
activities		 18
Consolidated
balance sheet		 19
Cash flow statement 20
Notes to the financial statements 21-31

able 2:Conferencing
and Events
Event Type Number Users
Large Meeting/Conference/Dinner 65 55,464
Medium 60 2,007
Small 93 1,177
Total 218 58,648

Unrestricted Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
Notes E E E E f E
Income from:
Donations
and legacies
Donations 2 392,022 392,022 889,571 889,571
Charitable
activities
Operations
ofthe Guildhall		 3 1,607,472 41,606 1,649,078 438,262 438,262
Other trading
activities
Commercial
trading operations		 4 444,510 444,510 15,128 15,128
Investment
income		 5 9,713 9,713 8,108 8,108
Other income 20,533 20,533 21,496 21,496
Totalincome 2,474,250 41,606 2,515,856 1,372,565 1,372,565
Expenditure
on:
Fundraising 7,190 7,190 15,799 15,799
Charitable
activities
Operations
ofthe Guildhall		 6 2,184,180 42,663 2,226,843 1,555,354 7,700 1,563,054
Total expenditure 2,191,370 42,663 2,234,033 1,571,153 7,700 1,578,853
Net gains/(losses)
on investments		 13,463 13,463 34,746 34,746
Net income/(expenditure) 296,343 (1,057) 295,286 (163,842) (7,700) (171,542)
Transfers between
funds		 86,776 (86,776) 27,724 (27,724)
Net movement
in funds		 383,119 (87,833) 295,286 (136,118) (35,424) (171,542)
Reconciliation offunds:
Total funds brought
forward		 (231,721) 105,768 (125,953) (95,603) 141,192 45,589
Total funds carried forward 151,398 17,935 169,333 (231,721) 105,768 (125,953)

Group Group Charity Charity
2022 2021 2022 2021
Notes f 6 6 6
Fixed assets
Tangible assets 12 738,002 615,145 734,829 599,171
Investments 13 198,199 184,736 1 301
936,201 799,881 734,830 599,472
Current assets
Stocks 14 54,519 28,054 54,519 28,054
Debtors 15 469,840 275,505 591,268 195,733
Cash at bank and in hand 1,108,464 959,127 863,497 940,945
1,632,823 1,262,686 1,509,284 1,164,732
Creditors: amounts falling
due within one year 16 (2,399,088) (1,935,485) (2,297,285) (1,851,249)
Net current assets (766,265) (672,799) (788,001) (686,517)
Total assets less current liabilities 169,936 127,082 (53,171) (87,045)
Creditors: amounts falling due after
one year 17 (250,000) (250,000)
Provisions for liabilities (603) (3,035)
Net assets 169,333 (125,953) (53,171) (337,045)
Funds
Unrestricted funds 148,797 (240,183) (71,106) (442,813)
Restricted funds 17,935 105,768 17,935 105,768
Non Charitable Trading funds 2,601 8,462
Total funds 18 169,333 (125,953) (53,171) (337,045)

Forthe year ended 31March 2022
Group Group
2022 2021
Cash flows from operating activities:
Net cash provided
by (used in) operating		 activities 386,930 209,012
Cash flows from investing
activities:
Interest income 9,713 8,108
Purchase oftangible
fixed assets		 (247,306) (40,222)
Net cash provided
by (used in) investing		 activities (237,593) (32,114)
Increase/(decrease)
in cash and cash equivalents		 in the year 149,337 176,898
Cash and cash equivalents
at 1April 2021		 959,127 782,229
Cash and cash equivalents
at 31March		 2022 1,108r464 959,127
Net income/(expenditure)
for the reporting		 period 295,286 (171,542)
Depreciation
and loss on disposal ofassets		 124,449 80,868
Income from investments (9,713) (8,108)
(Gains)/losses
on investments		 (13,463) (34,746)
(Increase)/decrease
in stocks		 (26,465) 26,671
(Increase)/decrease
in debtors		 (194,335) 75,168
Increase/(decrease)
in creditors		 463,603 (9,037)
Increase/(decrease)
in long term liabilities		 (250,000) 250,000
Increase/(decrease)
in provisions		 (2,432) (262)
Net cash provided
by (used in) operating		 activities 386.930 209,012

Unrestricted 2022 Unrestricted 2021
funds Total funds Total
E f f E
Donations and legacies 1,589 1,589 4,444 4,444
Portsmouth City Council —Core funding 177,000 177,000 177,000 177,000
Cultural
Recovery Fund		 101,000 101,000 214,000 214,000
Coronavirus Job Retention Scheme 112,433 112,433 494,127 494,127
392,022 392,022 889,571 889,571
Charitable activities
Unrestricted Restricted 2022 Unrestricted 2021
funds funds Total funds Total
Operations ofthe Guildhall: f f E f f
Venue and events income 1,009,403 41,606 1,051,009 327,530 327,530
Studio 43,871 43,871 550 550
Learning
and		 participation 167,247 167,247
gooking fees 144,362 144,362 30,474 30,474
Tenants income 58,606 58,606 8,368 8,368
Membership income 4,187 4,187 3,762 3,762
Restoration fee levy 141,080 141,080 23,928 23,928
Grant income 38,716 38,716 43,650 43,650
1,607,472 41,606 1,649,078 438,262 438,262
4. Other trading activities
Unrestricted 2022 Unrestricted 2021
funds Total funds Total
f f f f
Catering and events income 444,510 444,510 4,767 4,767
Fundraising and sponsorship 10,004 10,004
VIP income 357 357
444,510 444,S10 15,128 15,128
5. Investment income
Unrestricted 2022 Unrestricted 2021
funds Total funds Total
f f f E
Dividends
and		 interest 9,713 9,713 8,108 8,108
9,713 9,713 8,108 8,108

Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds Total funds funds Total
f f f f f f
Operations ofthe Guildhall 2,184,180 42,663 2,226p843 1,555,354 7,700 1,563,054
2,184,180 42,663 2,226,843 1,555,354 7,700 1,563,054
Costs of charitable activities - by activity
Activities
Governance
undertaken
and support		 2022 2021
directly costs Total Total
f f f f
venue and events 443,386 434,804 878,190 612,745
Conferences and events 136,990 144,899 281,889 142,125
Studio 41,727 2,021 43,748 2,687
Learning and participation 78,658 136,708 215,366 114,629
HLF Grant expenditure 7,317 7,317 15,193
Marketing 56,365 98,727 155,092 129,503
Operations 30,755 30,755 10,386
Facilities 213,159 139,793 352,952 343,951
Finance and HR 137,697 106,919 244,616 190,348
CEO, programming and commercial 2,075 2,075 327
Sundry 14,843 14,843 1,160
1,162,972 1,063,871 2,226,843 1,563,054
Analysis ofgovernance and support costs
2022 2021
Total Total
f f
Wages 836,289 917,088
Social security 72,501 68,678
Pensions 24,179 23,329
Depreciation oftangible assets 109,818 80,868
Loss on disposal ofassets 14,631
Governance costs
Auditor's remuneration 2,875 2,875
Accountancy fees 3,578 8,163
1,063,871. 1,101,001

Employees
2022 2021
E E
Employee costs
Wages and salaries 1,077,347 1,022,682
Social security costs 72,501 68,678
Pension costs 24,179 23,329
1,174,027 1,114,689
The average number ofemployees during the year was as follows:
2022 2021
The number of employees whose employee benefits (excluding employer pension costs) exceeded E60,000 was as
follows:
2022 2021
E80,001 - E90,000 1 1

Profit and Loss Acc o unt 2022 2021
Turnover 517,029 322,185
Cost ofsales (200,917) (153,233)
Gross Profit 316,112 168,952
Sundry income 10,006
Overheads (162,932) (84,491)
Operating
profit before taxation		 163,186 84,461
Tax on profit 2,432 262
Retained profit for the period 165,618 84,723
Gift aid contribution to The Guildhall Trust (175,295) (85,842)
Retained profit/(loss) brought forward 12,278 13,397
Retained profit/(loss) cardied forward 2,601 12,278
Called up Ordinary Share Capital 1 1
Capital and reserves 2,602 12,279

Hornpipe Thea
A summary
of
tre Company
Limited
is a wholly owned trading
the results
is shown
below:
 tre Company
Limited
is a wholly owned trading
the results
is shown
below:
 subsidiary
and a linked charity ofThe Gu		 ildhall
Trust.
Statement of Financial Activities 2022 2021
6 6
Income 9,410
Expenditure (5,600) (900)
Net gains/(losses) on investments 13,463 34,746
Net movement in funds 17,273 41,939
Funds brought forward 202,630 160,691
Funds carried forward 219,903 202,630
Balance Sheet 2022 2021
f
Investments 198,199 184,736
Current assets 27,454 18,794
Current
liabilities		 (5,750) (900)
Net assets 219,903 202,630
Unrestricted
funds		 219,903 202,630
Total funds 219,903 202,630

Tangible fixed a ssets - Group
Assets under Improvements Plant & Fixtures & Computer
construction to property machinery fittings equipment Total
6 6 6 6 6
Cost or valuation
At 1April 2021 302,380 394,231 151,153 103,774 204,771 1,156,309
Additions 21,396 9,652 156,123 13,390 46,745 247,306
Disposals (37,677) (37,677)
At31March 2022 323,776 403,883 307,276 117,164 213,839 1,365,938
Depreciation
At 1April 2021 183,177 118,642 91,711 147,634 541,164
Charge for the year 39,398 35,481 5,697 29,242 109,818
On dlsposals (23,046) (23,046)
At 31March 2022 222,575 154,123 97,408 153,830 627p936
Net book values
At 31March 2022 323,776 181,308 153,153 19,756 60,009 738,002
At 31March 2021 302,380 211,054 32,511 12,063 57,137 615,145
Tangible fixed assets - Charity
Assets under Improvements Plant & Fixtures & Computer
construction to property machinery fittings equipment Total
6 6 f 6 6 6
Cost or valuation
At 1April 2021 302,380 394,231 151,153 102,335 180,735 1,130,834
Additions 21,396 9,652 156,123 11,080 46,745 244,996
Disposals (15,083) (15,083)
At 31March 2022 323,776 403,883 307,276 113,415 212,397 1,360,747
Depreciation
At 1April 2021 183,177 118,642 91,615 138,229 531,663
Charge for the year 39,398 35,481 5,217 29,242 109,338
On disposals (15,083) (15,083)
At 31March 2022 222,575 154,123 96,832 152,388 625,918
Net book values
At 31March 2022 323,776 181,308 153,153 16,583 60,009 734,829
At 31March 2021 302,380 211,054 32,511 10,720 42,506 599,171

Investments - Group Listed
investments Total
E
Valuation
At 1April 2021 184,136 184,736
Revaluations 13,463 13,463
At 31March 2022 198,199 198,199
Investments are held by the Hornpipe Theatre Company Limited.
The company holds the share capital ofthe following companies:
Company Nature Share SSShare Value of
Company
name		 number of business class held holding shares
f
Solent Cultural Enterprise Limited 07520080 Associate commercial activities Ordinary 100% 1
ofthe parent company
Guildhall
Event		 Services Limited 09199939 Dormant company Ordinary 1009o 100
Comedy Festivals Limited 09200130 Dormant company Ordinary 100% 100

Stocks
Group Group Charity Charity
2022 2021 2022 2021
f f f
Stocks 54,519 28,054 54,519 28,054
Debtors
Group Group Charity Charity
2022 2021 2022 2021
f E E E
Trade debtors 152,134 117,295 116,817 85,091
Other debtors 123,196 123,196
Prepayments and accrued income 194,510 158,210 151,695 110,642
Amount owed by group undertakings 199,560
469,840 275,505 591,268 195,733

16. Creditor s: am ounts
falling		 due within one year
Group Group Charity Charity
2022 2021 2022 2021
f f f f
Trade creditors 314,125 20,934 291,863 20,934
Other taxes and social security 100,260 102,735 90,139 84,498
Other creditors 10,796 16,923 10,796 17,223
PRS control 14,196 14,196
Deferred income 57,809 98,015 8,444 12,419
Accrued expenditure 81,978 55,004 61,923 52,339
Ticket income in advance 2,814,446 1,633,391 1,814,446 1,633,391
Loans 5,478 8,483 5,478 8,483
Amount owing to group undertakings 21,962
2,399,088 1,935,485 2,29'7,285 1,85'1,249
Deferred income
Group Group Charity Charity
2022 2021 2022 2021
f f f f
Balance at 1April 2021 98,015 96,343 12,419 8,956
Amounts released to incoming resources (68,980) (42,225) (9,080) (4,058)
Amounts deferred
in year		 28,774 43,787 5,105 7,521
PRScontrol 14,196 14,196
Balance as at31March 2022 72,005 98,015 22,640 12,419
17. Creditors: amounts
falling		 due after one year
Group Group Charity Charity
2022 2021 2022 2021
f f f f
Loans 25D,DDD 250,00D
18. Analysis ofnet assets between funds
Tangible Investment IVet Current Long term 2022
Fixed Assets Assets Assets Uabilltles Total
f f
Unrestricted
funds		 728,537 (799,644) (71,106)
Restricted funds 6,292 11,643 17,935
Net assets —Charity only 734,829 1 (788,001) (53,171)
Linked charity 198,199 21,704 219,903
Non-charitable trading funds 3,273 (1) (571) 2,601
Tota I net assets 738.002 198,199 (766,868) 169,333

Tangible Investment
Net Current		 Investment
Net Current		 Long term 2021
Fixed Assets Assets Assets Uabigtles Total
f E f E
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
Total net assets 615,145 184,736 (675,834) (250,000) (125,953)
Restricted funds At At
1April Incoming Outgoing Fund 31March
2021 resources resources transfers 2022
f f f f
Capital works 13,992 (7,700) 6,292
Portsmouth City Council-Capital grant 91,776 (91,776)
Urban Vocal Group 46,606 (34,963) 11,643
Total 105,168 46,606 (42,663) (91,716) 17,935
At At
1April Incoming Outgoing Fund 31March
2020 resources resources transfers 2021
f E f f f
Capital works 21,692 (7,700) 13,992
Portsmouth City Council - Capital grant 119,500 (27,724) 91,776
Tota I 141,192 (7,700) (27,724) 105,768

The charity
had outst
leases as follows:		 anding
commitments
for future
minimum		 lease payments
under
non-cancellable		 operating
2022 2021
E E
Within one year 14,724 14,724
Between one and five years 4,821 23,995
19,545 38,719
Analysis ofchanges in net debt
Anal ysi s of chan ge s
in net debt
Group Group Charity Charity
2022 2021 2022 2021
E E E
Cash at bank and in hand 1,108,464 959,127 863,497 940,945

The carrying amou nts
o		 fthe charity's
financial
instruments
are as follo		 ws:
2022 2021
E E
Financial assets
Debt instruments measured at amortised cost:
—Trade debtors (note 15) 152,134 117,295
-Accrued income (note 15) 129,802 111,841
281,936 229,136
Financial liabilities
Measured
at amortised		 cost
—Trade creditors (note 16) 314,125 20,934
-Other creditors (note 16) 10,796 16,923
-Other taxes &social security (note 16) 100,260 102,735
- PRScontrol 14,196
439,377 140,592