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2023-03-31-accounts

Page
Chair's Report
Trustees'
annual
report (incorporating		 the Strategic Report) 2-15
Statement ofTrustees'
responsibilities		 16
Auditor's
report to the Trustees		 17 - 19
Statement offinancial
activities		 20
Consolidated
balance sheet		 21
Cash flow statement 22
Notes to the financial statements

Executive team Executive team Andy Grays (Chief Executive) Andy Grays (Chief Executive)
Sam Singleton (Head of Finance)
Nick Coles (Events Director &Support Services Manager)
Rachel Maryan (General Manager)
Kelly Haswell (Head of Marketing)
I-layley Reay (Head of Learning and Participation)
Craig Paterson (Stage &Technical Manager)
Audit and finance committee Adrian Price (Chair)
Mark Turner
Andy Grays
Sam Singleton
Human resources committee Declan Murphy (Chair)
Trevor Keeble
Samantha
Cox
Rachel Maryan
Sam Singleton
Strategic marketing committee Peter Gunn (Chair)
Pamela
Hamilton
Amir Hussain
Mark Waldron
Kelly Haswell
Andy Grays
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 Barclays Bank
67-69West Street
Fareham
Hampshire PO16 OAW

Forthe year ended 31Mar ch 2023 ch 2023
Unrestricted Restricted 2023 Unrestricted Restricted 2022
funds funds Total funds funds Total
Notes E E E E E E
Income from:
Donations
and legacies
Donations 2 178,088 499,000 677,088 392,022 392,022
Charitable
activities
Operations
ofthe Guildhall		 3 2,360,273 17,914 2,378,187 1,607,472 41,606 1,649,078
Other trading
activities
Commercial
trading operations		 4 787,212 787,212 444,510 444,510
Investment
income		 5 12,377 12,377 9,713 9,713
Other income 25,251 25,251 20,533 20,533
Extraordinary
Income		 425,000 425,000
Total income 3,788,201 516,914 4,305,115 2,474,250 41,606 2,515,856
Expenditure
on:
Fundraising 7,190 7,190
Charitable
activities
Operations
ofthe Guildhall		 6 3,456,063 31,262 3,487,325 2,184,180 42,663 2,226,843
Total expenditure 3,456,063 31,262 3,487,325 2,191,370 42,663 2,234,033
Net gains/(losses)
on investments		 (12,112) (12,112) 13,463 13,463
Net income/(expenditure) 320,026 485,652 805,678 296,343 (1,057) 295,286
Transfers between funds 185,116 (185,116) 86,776 (86,776)
Net movement
in funds		 505,142 300,536 805,678 383,119 (87,833) 295,286
Reconciliation offunds:
Total funds brought forward 151,398 17,935 169,333 (231,721) 105,768 (125,953)
Total funds carried forward 656,540 318,471 975,011 151,398 17,935 169,333

Group Group Charity Charity
2023 2022 2023 2022
Notes f f 6 6
Fixed assets
Tangible assets 12 842,715 738,002 840,292 734,829
Investments 13 186,087 198,199 1 1
1,028,802 936,201 840,293 734,830
Current assets
Stocks 14 75,565 54,519 75,565 54,519
Debtors 15 989,546 469,840 1,095,141 591,268
Cash at bank and in hand 819,574 1,108,464 564,737 863,497
1,884,685 1,632,823 1,735,443 1,509,284
Creditors: amounts falling
due within one year 16 (1,938,016) (2,399,088) (1,797,716) (2,297,285)
Net current assets (53,331) (766,265) (62,273) (788,001)
Total assets less current liabilities 975,471 169,936 778,020 (53,171)
Provisions for liabilities (460) (603)
Net assets 975,011 169,333 778,020 (53,171)
Funds
Unrestricted funds 654,546 148,797 459,549 (71,106)
Restricted funds 318,471 17,935 318„471 17,935
Non Charitable Trading funds 1,994 2,601
Total funds 17 975,011 169,333 778„020 (53,171)

Forthe year ended 31March 2023
Group Group
2023 2022
Cash flows from operating
activities:
Net cash provided
by (used in) operating		 activities 89,976 386,930
Cash flows from investing
activities:
Interestincome 12,377 9,713
Purchase oftangible fixed assets (391,243) (247,306)
Net cash provided
by (used in) investing		 activities (378,866) (237,593)
Increase/(decrease)
in cash and cash equivalents		 in the year (28$,890) 149,337
Cash and cash equivalents
at 1April 2022		 1,108,464 959,127
Cash and cash equivalents
at 31March		 2023 8t9,574 1,108r464
Net income/(expenditure)
for the reporting		 period 805,678 295,286
Depreciation
and loss on disposal ofassets		 286,530 124,449
Income from investments (12,377) (9,713)
(Gains)/losses
on investments		 12,112 (13,463)
(Increase)/decrease
in stocks		 (21,046) (26,465)
(Increase)/decrease
in debtors		 (519,706) (194,335)
Increase/(decrease)
in creditors		 (461,072) 463,603
Increase/(decrease)
in long term liabilities		 (250,000)
Increase/(decrease)
in provisions		 (143) (2,432)
Net cash provided
by (used in) operating		 activities 89,976 386,930

Donations and legacies
Unrestricted Restricted 2023 Unrestricted Restricted 2022
funds funds Total funds funds Total
E E E E E
Donations and legacies 1,088 1,088 1,589 1,589
Portsmouth City Council —Core funding 177,000 177,000 177,000 177,000
Arts Council England
grant		 499,000 499,000
Cultural
Recovery Fund		 101,000 101,000
Coronavirus Job Retention Scheme 112,433 112,433
178,088 499,000 677,088 392,022 392,022

Charitable
a		 ctivities
Unrestricted Restricted 2023 Unrestricted Restricted 2022
funds funds Total funds funds Total
Operations ofthe Guildhall: E E E E
Venue and events income 1,530,168 1,530,168 1,051,009 1,051,009
Studio 81,727 81,727 43,871 43,871
Learning
and		 participation 245,688 17,914 263,602 125,641 41,606 167,247
Booking fees 206,290 206,290 144,362 144,362
Tenants income 88,492 88,492 58,606 58,606
Membership income 5,370 5,370 4,187 4,187
Restoration fee levy 202,538 202,538 141,080 141,080
Grant income 38,716 38,716
2,360,273 17,914 2,378,187 1,607,472 41,606 1,649,078

Unrestricted 2023 Unrestricted 2022
funds Total funds Total
E E E E
Conferences and events 783,212 783,212 444,510 444,510
Fundraising and sponsorship 4,000 4,000
787,212 787,212 444,510 444,510
Investment income
Unrestricted 2023 Unrestricted 2022
funds Total funds Total
E E E E
Dividends and interest 12,377 12,377 9,713 9,713

Unrestricted Restricted 2023 Unrestricted Restricted 2022
funds funds Total funds funds Total
f E f E E
Operations ofthe Guildhall 3,456,063 31,262 3,487,325 2,184,180 42,663 2,226,843
7. Costs ofcharitable activities - by activity
7. Costs of ch a ritabl e
act		 ivities - by activity
Activities Governance
undertaken and support 2023 2022
directly costs Total Total
f E f
Venue and events 798,341 553,034 1,351,375 878,190
Conferences and events 330,261 179,392 509,653 281,889
Studio 105,537 2,454 107,991 43,748
Learning and participation 262,192 206,928 469,120 215,366
HLF Grant expenditure 7,317
Marketing 88,740 120,367 209,107 155,092
Operations 47,364 47,364 30,755
Facilities 297,681 170,531 468,212 352,952
Finance and HR 158,194 130,454 288,648 244,616
CEO, programming and commercial 18,900 18,90D 2,075
Sundry 16,955 16,955 14,843
2,124,165 1,363,160 3,487,325 2,226,843
8. Analysis ofgovernance and support costs
2023 2022
Total Total
f f
Wages 942,794 836,289
Social security 96,292 72,501
Pensions 31,293 24,179
Depreciation oftangible assets 131,351 109,818
Loss on disposal of assets 155,179 14,631
Governance costs
Auditor's remuneration 2&975 2,875
Accountancy fees 3,276 3,578
1,363,160 1,063,871

Employees
2023 2022
E E
Employee costs
Wages and salaries 1~378~106 1~077347
Social security costs 96,292 72,501
Pension costs 31,293 24,179
1,505,691 1,174,027
The average number ofemployees during the year was as follows:
2023 2022
137 98
The number ofemployees whose employee benefits (excluding employer pension costs) exceeded E60,000was
as follows:
2023 2022
E80,001 —E90,000 1 1

Profit and Loss Account Profit and Loss Account Profit and Loss Account 2023 2022
E 6
Turnover 844,584 517,029
Cost ofsales (496,635) (200,917)
Gross Profit 347,949 316,112
Sundry income 277 10,006
Overheads (191,659) (162,932)
Operating
profit before taxation		 156,567 163,186
Tax on profit 143 2,432
Retained
profit for		 the period 156,710 165,618
Gift aid contribution to The Guildhall Trust (157,317) (175,295)
Retained
profit/(loss)		 brought forward 2,601 12,278
Retained
profit/(loss)		 carried forward 1,994 2,601
Called up Ordinary Share Capital
Capital and reserves 1,995 2,602

Trust. A summ
 ary
ofthe results
is shown below:
 ary
ofthe results
is shown below:
Statement of Financial Activities 2023 2022
E E
Income 10,795 9,410
Expenditure (23,588) (5,600)
Net gains/(losses) on investments (12,112) 13,463
Net movement in funds (24,905) 17,273
Funds brought forward 219,903 202,630
Funds carried forward 194,998 219,903
Balance Sheet 2023 2022
E 6
Investments 186,087 198,199
Current assets 23,551 27,454
Current
liabilities		 (14,640) (5,750)
Net assets 194,998 219,903
Unrestricted
funds		 194,998 219,903
Total funds 194,998 219,903

Tangible fixed a ssets - Group
Assets under Improvements Plant & Fixtures & Computer
construction to property machinery fittings equipment Total
f f f f f f
Cost or valuation
At 1April 2022 323,776 403,883 307,276 117,164 213,839 1,365,938
Additions 185,116 8,459 149,832 25,761 22,075 391,243
Disposals (155,179) (155,179)
At 31March 2023 353,713 412,342 457,108 142,925 235,914 1,602,002
Depreciation
At 1April 2022 222,575 154,123 97,408 153,830 627,936
Charge for the year 40,203 53,140 8,400 29,608 131,351
On disposals
At 31March 2023 262,778 207,263 105,808 183,438 759,287
Net book values
At 31March 2023 353,713 149,564 249,845 37,117 52,476 842,715
At 31March 2022 323,776 181,308 153,153 19,756 60,009 738,002
Tangible fixed assets - Charity
Assets under Improvements Plant & Fixtures & Computer
construction to property machinery fittings equipment Total
f f E f f
Cost or valuation
At 1April 2022 323,776 403,883 307,276 113,415 212,397 1,360,747
Additions 185,116 8,459 149,832 25,761 22,075 391,243
Disposals (155,179) (155,179)
At 31March 2023 353,713 412,342 457,108 139,176 234,472 1,596,811
Depreciation
At 1April 2022 222,575 154,123 96,832 152,388 625,918
Charge for the year 40,203 53,140 7,650 29,608 130,601
On disposals
At 31March 2023 262,778 207,263 104,482 181,996 756,519
Net book values
At 31March 2023 353,713 149,564 249,845 34,694 52,476 840,292
At 31March 2022 323,776 181308 153,153 16,583 60,009 734,829

For t he year ende d 31March 2023
13. Investments -Group Listed
investments Total
6 6
Valuation
At 1April 2022 198,199 198,199
Revaluations (12,112) (3.2,112)
At 31March 2023 186,087 186,087
Investments are held by the Hornpipe Theatre Company Limited.
The company holds the share capital ofthe following company:
Company Nature Share %Share Value of
Company name number ofbusiness class held holding shares
Solent Cultural Enterprise Limited 07520080 Associate commercial activities of Ordinary 100N f1
the parent company
14. Stocks
Group Group Charity Charity
2023 2022 2023 2022
6 f 6 E
Stocks 75,565 54,519 75,565 54,519
15. Debtors
Group Group Charity Charity
2023 2022 2023 2022
6 6 f E
Trade debtors 131,464 152,134 83,651 116,817
Other debtors 72,782 123,196 72,782 123,196
Prepayments and accrued income 785,300 194,510 764,809 151,695
Amount
owed		 by group undertakings 173,899 199,560
989,546 469,840 1,095,141 591,268

Fort he year ended 31March 2023 he year ended 31March 2023
16. Creditors: amounts
falling due within one year
Group Group Charity Charity
2023 2022 2023 2022
6 6 E 6
Trade creditors 426,150 314,125 413,620 291,863
Other taxes and social security 99,375 100,260 82,110 90,139
Other creditors 32,619 10,796 1,746 10,796
PRS control 20,686 14,196 20,686 14,196
Deferred income 58,587 57,809 7,737 8,444
Accrued expenditure 124,785 81,978 96,003 61,923
Ticket income
in advance		 1,174,662 1,814,446 1,174,662 1,814,446
Loans 1,152 5,478 1,152 5,478
1,938,016 2,399I088 1,797,716 2,291,285
Deferred income
Group Group Charity Charity
2023 2022 2023 2022
6 6 6 6
Balance at 1April 2022 72,005 98,015 22,640 12,419
Amounts
released		 to incoming resources (56,882) (68,980) (707) (9,080)
Amounts
deferred		 in year S7,660 28,774 5,105
Movement
on PRS control		 6,490 14,196 6,490 14,196
Balance as at 31March 2023 79,273 72,005 28,423 22,640
17. Analysis ofnet assets between funds
Tangible investment Net Current 2023
Fixed Assets Assets Assets Total
Unrestricted
funds		 840,292 (380,744) 459,549
Restricted funds 318,411 318,471
Charity only 840,292 1 (62,273) 778,020
Linked charity 186,087 8,910 194,997
Non-charitable
trading funds		 2,423 (1) (428) 1,994
Tata I 842,715 186,087 (53,791) 975,011

Tangible
Investment
Net		 Tangible
Investment
Net		 Current 2022
Fixed Assets Assets Assets Total
E E E
Unrestricted funds 728,537 1 (799,644) (71,106)
Restricted funds 6,292 11,643 17,935
Charity only 734,829 1 (788,001) (53,171)
Linked charity 198,199 21,704 219,903
Non-charitable trading funds 3,173 (1) (571) 2,601
Tota I 738,002 198,199 (766,868) 169,333
Restricted funds At At
1April Incoming Outgoing Fund 31March
2022 resources resources transfers 2023
E E E E E
Basement Project 6,292 499,000 (6,292) (185,116) 313,884
Urban Vocal Group 11,643 17,914 (24,970) 4,587
Tota I 17,935 516,914 (31,262) (185,116) 318,471
At At
1April Incoming Outgoing Fund 31March
2021 resources resources transfers 2022
E E E E
Basement Project 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 105,768 46,606 (42,663) (91,776) 17,935

leases as follows:
2023 2022
6 f.
Within one year 4,821 14,724
Between one and five years 4,821
4,821 19,545
21. Analysis ofchanges in net debt
Group Group Charity Charity
2023 2022 2023 2022
6 6 6 6
Cash at bank and in hand 819,574 1,108,464 564,737 863,497
22. Financial instruments
The carrying amounts of the group's financial instruments are as follows:
2023 2022
6 6
Financial assets
Debt instruments
measured		 at amortised cost:
-Trade debtors (note 15) 131,464 152,134
—Accrued income (note 15) 560,568 129,802
692,032 281,936
Financial liabilities
Measured at amortised cost
-Trade creditors (note 16) 426,150 314,125
-Other creditors (note 16) 32,619 10,796
—Other taxes &social security (note 16) 99,375 100,260
- PRS control 20,686 14,196
578,830 439,377