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||||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|
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|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|
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||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|
##
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##
|||||||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|
##
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##
|||||||||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|
##
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##
##
|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|
##
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##
||||||||
|---|---|---|---|---|---|---|
|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|