##
|||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|||
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|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||
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|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|
##
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|||||||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|
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|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|