Charity reglstratlon numb•r 11B9067 Company reglstralioft nurnbpr 12064936 (Ersgland and Waksl THE HIVE PORTSMOUTH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE HIVE PORTSMOUTH LEGAL AND ADMINISTRATIVE INFORMATION Rory Massey Sandra Bramley Mark Scwborough Rrtsrt White Nicola Ycw8m Catherine Loruhur5t Snookes (Awmxnted 24 June 2024) Secretary Lm Re8V Charity number 118Y)67 Company nurnbor 12(W936 Rtgistered office Centrdl Lknrary Guildhall Squ*e Hampthire Portsmouth POI 2DX Authtor Sury*rAknt1ft Piper House 4 Dukes Court BogrK)r Road Chthester P019 8FX Bank¢r Bardays Barrk Pk 107 CorTYne￿I Road P(KtsnKXrth Hampshi P01 1BT THE HIVE PORTSMOUTH CONTENTS Tw8tse's repot1 Ststement oftnJst•8'5 respr￿￿lItieS INlèpoftdent audito¢s rewl 9-11 Statamentof financial adiwtstts 12 13 . Notes to the financ[￿ Stat￿}ents 15-32 THE HIVE PORTSMOUTh TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees presentthw annLHI report aThJ finan(xal statew￿rtIS year eThJed 31 March 2024. fnancial ststsments hav8 been tryar6d accordw wilh lJ)& &tt)unting polictes set out In note 1 to the ]knanaal statements and comply with the chaiivs meMoTaT￿Urn and Arhdes of Associats"on. the Companiès Act 2006 'AcwuTrling and R8pOrt1￿ by C￿￿es. Stater¥wnl of Rec￿Mended Practits applicable to charities preparing their accounts a(xordance wtth FwwrAal Reporbro Standard applÈr3ble the UK and Republic of Ireland IFRS 1021" leF18cÈive 1 Jantsary 2019). Objecti￿$ an￿ activi118S The charity's obJ"ects. as set out in Ihe Athles ofAss(Mxth, are.. To relieve povety, to athIaN￿ 8ducation. and to r8li8ve need in iThlNiduals arislng frDm ttEir youth. agg infirrnty or ￿t￿bI14ty, fin8roal hardship (* cwCun￿1ar￿es". atyjlor . To tlevelop the capactty and skills of the menknars of rXKnrrmEniti￿ in P¢ytsrrKKth. HarT¥J5hire and the surrounding atea5 Ihat a￿ sociamy or scthly ar￿ e￿[hYnicallY di%advantaged in s￿h a way that they are belter able to id8ntÉfy and help meet Ihei¥ needs and to partrcipato more fulty in s￿iety. Th9 main activ￿.88 vndertaken by the HNE to Carry ¢)u¢ its ¢hartlaLkn purpK)5es for Ihe pubk b•)< indu¢e'. . ProrN)tiDg partnetships. Y+Drkiro aThY netWO￿l￿j vjrth others ￿ make the us8 of Krformation and resources available for the I)￿fit olthe uty. . PrDviding swaalist a(fvk* to Ferpb consijerry stath.ng up 8 socaal • those with idea5 which C(MJld lum into a soKiBI enterpris8 and thctse cuirW rurning ore. Supporting small grDUPS and organisatK)ns wfitr￿n Portsm￿j1h by pM￿dIng [￿￿tori￿, support wlth bid aiplicalrons, training, adv[￿ and laolitaling events. . DevdoF#ng arvj maifitainiry onbne d￿￿￿[ gffer indudes tis w￿)sit•, of servins and a customer relationthp manageft￿ datsb85e. . Providin9 infonython and ad¥*? to gu¥Je pet* to the rigmsuppcrt at tho light tiffle. Providing spac8 for many agencl8s to IK>8t dients and WDv¥Je 5P8citht ￿1vIce and WPFOrt around a tlly￿ad of is$￿ I￿uding debt. SOCki1 he8tth SUpp(￿t. disabibties. wnpWi￿1, substance rniSUSg and dotnestic v￿ler￿. . PTrynotrg and ￿CreasIng the unpartofvduntw and stiial acf*)n witth PortsFTKyJth. . Identsrwng gaps or needs in the P(xtsmrAth area and shaFing lh8 Énformal*M ￿ a raw Df partner5. . Faulrtating early aThJ redu(ing dernand on tra(kbonaF services. by SU[P￿N￿a petsle at an early Stage when néèd•1 and oftering attern8tiv8 Choi￿ help p￿p1a to help th￿efves and others. The HIVE Pt￿￿n￿Uth is in Ihe p)sthi of bel￿ able tn quirkly moblise aThJ disseminate ch8ritatAe rnonies to Ihose in need acr￿ uty.As part of ourcorTmunty res[M￿sIbI1ty and goveNHrts the Tntstees have agreed a Grant Awarfling PolKy whK* sets out how $ny fimtds recei¥ed by HIVE Portsmoulh for onward grant making are awarded. Grants awarded $UPK￿ lh8 reslience ￿ Ihe VCSE 5eLi(x in P(xlsnwulh, athyress gaps 4) [￿￿75￿)n and improve th8 health wellbaiNJ of ￿r ￿￿ents. The t￿￿teeS conf￿r￿ Ihat Ihey have W due rngayd to Ihe guxlance on Publ￿ 8er*fft publish8d ty Ihe Charity Commission exorci￿ng their powers and duties. Publicb8n8frt The *usté6s have ￿nfiEM that they have had due regatt to guidan(x i]n pu￿1¢ Beneffl pU￿1$￿ed by the Charity Commiss￿￿ in exerosing thèir {K)￿ET8 and dulEs. THE HIVE PORTSMOUTrI TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlovements and p8rfomwnce Signific8nt artivitw and achieverngnts ag8Jn8t ctybves The y8ar saw 870 new volunteers pla(￿d in rol95 8UOSS the fiiy ￿ 16 Sch(x)r Re*rs vokjnteering in three focal schoob giving 813 fv)uts Èrtd 96 Be The￿ for Care vdbmleer5 tA8¢ed both in care homes and in the o)mmunity suppthtng local rè8*dent gi*ing 419 hours. Wunlwng dro[￿￿ sessions we¥e offered five days A week from 9.30 4pm a￿1 every other Sailurlay. The Better Impart vdunkw system was used both to facilitate training and log votuntsgr hours. with volunt86rs eompletiro 6.421 f*xKs in the year. Alany events wwe siwrted acTOSS the city includirrfj besch thans arxl the lftai celebrations at the Gu￿dha1l. HIVE organi58d a volunteer fayre In Cascades at th8 of Fetwary h71h nvJ1.p￿ charit* a￿1 organisalNJrts In alt￿(lance which allowed pwe to in and find CArt hN trw COU￿ get Th)volved al￿ mak8 a diff8r8nce as w8a as gain experienrÈ an¢J open future opwrtunities. Vdunteers surpxted lh8 Rotary dub with Christmas bucket £xA18ctions a￿1 thpir Shoebox appeal a*Trd 86 peq)le volunteetEd Io send Chrislmas cards to 144 peop￿ in ca homes by1￿ otrenvis8 may not have re￿Ned any. C￿nati¢￿ts tr Ihe h)Me￿S$ were also collected on behalf of Lrfehouse. Th8 Volunteer awatd5 wETe hebj for Jhe firsl time Ihe pandemiG in partnwship th POIn￿Y in th8 Coffttnunity. Nine awards were ptesonted with 122 r*)trdn3tK￿ ￿ed. The helpdesk continued lo support a la¥Je number ol èwire5 U￿UdirQ 2.785 face to 1.791 telephone c*ls and 1.4018maA wquiries. Some rw)Iab￿ of the supsxrtl include.. . Acustomer need￿ a fr￿ vryJc*er that Wrèvéd had been atrang@d by a day ￿ntre. Helpdesk aLfvisors k￿8t&￿ the centre and m*J& cthtad *7th hts support wo1(w. allchfftg thè otsstomar to gèt his vouchèrs before the wèekend. . A Man who in temporary aLromm(xlalion n a W hotel tras due b be m¢Md to an adjaeent room but was ufta￿e to mDve Ix)xes and bags htmself due to a baek injury. He was told if h& didn'l move Ih3t day, he wotdd be evicted. Hel￿esk got in conlact Britssh Red Cross who We￿ abk lo ￿1p twm his posse5sior*. The ￿$tOmer came back a few days LAter ar￿ was treffeThJously grateful for tt)e help he had and that wtFxMJl the lrfi. hg fvared l* wwkl be on the streets. re has been an ir¥xeas8 in requests for food sup6NJrt and referr8ks have been made to Baby Bank, lQdsaothesLine. AdMc8 Portsmouth. food 5UPP(¥t and to the Q4e¢tive support frcrfn the Salva1￿￿￿y. Bribsh Crc6s. GoodGym arml Age UIQ The diredory of seNce was continualty uwfaled Ihrough the ye* wth an averag0 of 829 organisations Krformation hell to 5pJnpost tx)th residents aEKI profesSon￿S to communty-based sup The Unrfomi share sl¢)re. which ac￿pts and ièclistrbutes donatons of prtrloved and new uniform promotrng sustainability. helped 1.135 famdies during the year. C(lectn)n points ￿MaIn tn b"brdri¢$ 8(xoss ￿ (xty and in Tes Fratton for which we arB very grateful. Uniform that is rK)t sENtabk to b8 wc*n again is rnade into rags which is env1ronrnent￿ly frie¥YJty and raises fijrxts to Lwy unttomi for Ihe store and fiE any gaps in PrO￿510n. . A young person rE￿n￿Y ar￿ ￿ the UK. ￿der8d his ovm uiyftjrm indudiry shoes. Unfc*tunatdy, there we¥e no sh1￿5 in his size avalab16 aF￿ he returned to tho HetKlesk each day to ask rf any had been don8t8d. In October Help(ksk placed an order inc*JJiNJ in hk8 %Ze èSP8rially for him, which w8re lecleQ swlhift haifan by a very Wefrjl young r8sM18nl. The provisK)n of uniforrtj relieved the ￿5t￿of￿￿￿g presstsrgs and rneant that families were ￿tter able lo afford other es￿ents"al$ induding food and energy, ptomotir¥J healLh and wel1b￿ng. We werg a￿e to support arwnd 100 k)cal families ￿th Worfd Book Day ou1fft5 thanks to ￿rErOUS donatiws from Teso) Ffatton and CO￿￿￿[V which enabled childr8n to participate in Worfd Book Day Suppo{￿ng ￿1￿ eryagernEnt in their (x)mmunity ar￿ wth reading and writing. Local families wère d81tghted trj have It* than￿ to send tfvr inio &*ool a great o}s￿Me. despite the current cost ol living rxisis. THE HIVE PORTSMOUTH TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 SupportIr￿ othw oryanfsakns or deveJopnw)I has remaH)ed a PriLty and r2pauty buikling to ensure a rasflient sector rEmain5 8 (x)re goal. This has thliiaLed in seY8r81 ways such as ho8￿n9 CaN Èvents, o)nne¢ling organisations. stsprYKbng the ￿eVek￿ of sorjal enlerprse and train1r￿ in govemarw olated Issues. Throughout the year the team dealt 2.672 interdcbons from lftdivldua￿ or groups interested in Sta￿ng n6w wrnmunity groups, supwted 189 new gTOUP5 113 social ent￿n$￿S in th8 yèar and Ik81t ￿lth 2,031 funding ewu¥¢es. The tearn d@INered a YAde rarrfJe of to supw)rt VCSE oryanisat*?ns to develop and sustain their seThicas 2nd worked dosety with organisations to enable them to address the needs of our local eommunity ¥nduding SHIFT. the Garnbian Asswatim. Sl Lukes. Pompey PenS￿nerS, Portsea Action Group. Hotne- stsrt. P*ch Communty group to ensure they Can de￿ SWVI￿ Ihat address Ihe needs of the p￿p￿ of Pr*tsmouth. The toam also sUP￿rted the r￿t￿SshT￿e￿t ufthe Children and Young Persons Fcwm. Afollow up state of the secaor survey retth was published in June and htylighted that nearfy on9 in thtee voluntary s￿Or organisations trn Portsrrouth were corjcerned they wrfl not suryNe the year wth risitvJ demand for servlces, increa5irEg cA)sts, stagnani income and Ihe increasi￿Y cmplex Issues arKI needs of 5etvtce user5 were all cited a5 creatsng a highly ChaI￿n91ng envirorrfneni for the sectot. To l* address this HIVE eetrvered funding workshops and, in partnership with PCC. assisled organlsati(Kks fagng ynexrerted costs thrO￿h the VCSE Hathip fvnd. We laU￿hed our first o>workiry Hub for the secior n) June cATerÉng VCSE rwi3ations access an affordabte space %vhere they can nehvork, wort cdlabor8tivdy. ddrwer train￿9 and wcwkS1K￿, anEI suppcKbng an agile working enwTonment Ihat reduces ovefheads and [￿￿OIeS sustsinaLlity vllthin the sector. BAE. who had prowdad tho funding forthis Initoti¥e. akn offered HR support sess¥xts in the Hub from thèir HR Team. HIVE continuèd to hosl1he Portsmcwth Lott8ry a total of £23.729.71 fiJnding thlr*buted b) support 27 dthenl organi8ation$ who werè.. Connors Toy Libr8ry . PortsrrK)Uth City of Sa*Mknry Share Portsmouth . MacDorsatd Watson Carars Group Wave 105 . Portsm(MJth GanbianAssoualtc Motiv8 . The La￿ Ndwc¥k Communty Kettle . IAillority Worngn5' Group in Port￿￿￿t￿ Kurdish Hom8 Portsmc avekxk Community Centre Portsmouth Phoenix VollÈy Pottsmouth Gambian Ass￿latI 12th PortsmoLrth Brownie Pack Spark Communty Café Compass Carers BO￿1￿ Mites Send Btrtten1ies . Ntsah Map8k) Bipofar VK Read Easy . Portsmouth Mediatsc￿ Se FamilyActton Pompey Pensioners Frfends tslAkfingbovnp TTUSt Stand Up ETrdometriDSiS South CcAst £1,IX £1.(XXI £1,(KMJ £9 £1.OCII £1.IKKJ £4￿& £795.99 £1,(KA) £1.OtM) E586.83 £1.L £230.89 £1.0( £965 £1,1 £1,(X £820 £971 £i,IXM) £910 £1.OC £7￿) Addilional grants wefè awarded to organisai&xts In Mardt 24 tyjt not out Lntsl ADriI 24. The PryLsmouth Community Lottery alsc> supported 206 I(￿ g￿1 ¢3uses induding Pcrbrnth Cab Lost Found & Rehomed, staFnshaw Lake Angling aub, The lQrvJs Theatre Sarnaritans of POrI￿Ulh and East Hampshite THE HIVE PORTSMOUTH TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 AS pwi of the ryty.wmje reS￿nSe to the CoSt￿4￿1n9 HWE PortsDYJJth witinues ￿ wpwt the ¢ommunty panlttg5 acr055 the oty. Pantries go beyon(J the f(&MJ bank rll(NJel, crealw a su51aInab￿ and lot¥J-tertn solution to food po¥*rty. Members pay a small Wee￿ fee. typ￿allY £4.￿. for whth they can cPDose at least ten iterns of food each wegk. At the end ofihe year th8rg wwe 7 pantTW in pla￿. a￿1 we continuè to support another 3 arèas whare we have *Jentsfied the n89d panty. HIVE Portsmouth continuèd k) lead the proiect to tratisfomi Con￿Unty menlal health Servi￿ the cty. The aim was to set up an indepèndent expert pand incbJdirKJ seFvI￿ users, th9% ¥￿th INed expenence, ¢xp8rts by exp8ri8nc8, carers and VCSE sector pathtets a￿1 to prtivKle orwr¥J 5UPPOrt to ensurirg indtviduab are trained and 8quipp8d to carry out the tasks asksd OF Ihern. The established lived experience nethrk wth over SO members facilitated the coprorlucbon ol the IAent31 Heallh hubs in the oty army pron￿tIOnal mate￿al9 raising awareness of ntsl heallh issues. HIVE ￿$0 fa¢ilitated trainnYJ aTrJ workshops (x)varing varKXJS topics induding trauma infcthed pr8c￿ce that helped raise aWatsn￿ and bU￿d krKMledge among profe￿o￿a￿S in city. Three omrnunity Mental Healtt) Nelwork Meetings wete hekl the year that brought together 50 - 60 attendees, across thè VCSE, PCC, Heallh. PrrA>athm. those with Ifwj and eatsrs whieli anabled Ihe sh8ring of knowledge and besl practice. HIVE Portsrnouth. the British Red CrD55 and the safvat￿ wcffked coTrabNatW as the WeNbehg Colkctive to 8vonY hosp4tal admissi¢M and to 18cifftate ￿ irKreased knw of inJlvKlvaFs (ftscharged back home Safely t coMp￿te thelr ￿e0ver￿s - bcAh of wh￿h arÈ ¥hieTrEd thTDugh targeted 5uwi to individua15 from oryanisalions vAth 8X￿tiSe in t￿se areas. This ha5 the added adYantag8 of redu￿ng tre inrydence of bed-blodKing at Qu*n Alexandra Hospital which is an i)wwiw issue. The of Its VWlt*lng Colkctive enable¢ peotAe across Portsmouth to Ilve Independèntly in their own hOr￿S for knThJer WOLAd otherM5e have LEen p055ibk irnptuving the* health, happiness & wdlbeing. Durit¥J 2023124 . 422 new refgrra15 w￿9 Te*ived frc*n a range tsf aggnu85 I￿JudIrQ the fr8ilty ward, QA host%t81, Adu So¢Kg1 Care, the HIVE helpdeth an(f Ott￿ s￿¥alL51 (x)rEY(llJt7ity teams that en8bleil to be supported at home rather Ihan ￿ ho5￿1￿￿. PTe5sure (th the NHS and Savi￿ fjJThJs. 1,0￿ peoplè We￿ supwrted in(*]ded fo￿1 provisi￿. rr￿tMbty support and conf￿￿en￿ build¥ng tsking pressufft (bff ofstatutrry Ser￿k￿ and in the Yast of L*S8S avo¥Jing re*Jnwssi￿ to lu)spital. . Ago UK PortsrrK>Ltth 2nd Goc*lGwn ￿￿)ed Ihe woiect tr) L￿￿k1 additK¥Tral cgpacity. The Digital IndusM)n project W8$ set up Io Provide devi￿ aThJ dala to Otganisabons a￿1 wesKlents lo a¢Gess online setvi¢es and become digit￿FY aC￿Ve. The ￿ie¢t has 18 trained Champions available to support re5ideTrts thryjugh the year and $uptt)rted 128 indM¢luaL%. Thè th8n¥)iorB: . gave 197 vdunteer hours Ofd￿lIa1 suprmxt to PoFtsmcth Yes￿. . ran an NHS drop in wgth a GP surgery, hdping over40 pewe othe￿8 t￿7 un8ble to access lh8 NHS app. . r8cTuited a mLfftlliW Digital Champ*)n has enable(I people that otherwise we would not have baen able to reath. intrcKlu¢ed tM)oked appoinlm8nts with a DHJital Chamlkn to iKrease accessibility whith has begn well recelvarj with at least 1 or 2 residents t%))kl￿ ap￿ts eath wed(. THE HIVE PORTSMOUTH TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 HIVE aEso worked ￿ partneiship wllh th8 Nalional Dats Bank to dats sims that Ènable greator intemet a¢￿55 to people WIK) call then acces5 supp are txjmekn or at rtsk of homelessne55 and hvhD oftEn face rnuttiple barriers to a¢ces$ online resources HIVE Portsrnouth suppvrted the forrnation of Ihe Disability Athsory GrLWP IDAGI, a gr￿p 85tablished and run by disabled peO￿e working both prr¢¢twety lo thntity tssues of (XXMXM to ￿$v￿ that the V￿CeS of disabled people are heard. and thaif conwns acted Up￿). and reactivety as a wundtroj board for bcal organigalions looking for specrfic advi(*. During 2023124 th6 OAG has rnet quajlerfy aThJ hase: . vJ8nt[￿d the key areas of eixKxm for r*Dt4e disabthbes arè tr) He8thcare, Accessible Transportand Emp*)yabiltiy. $￿ceSsfUllY campaigned to imkY0￿ the a(xxsdxlty of transp(*t fmcKKlirKJ ￿$) for ￿$[d￿nts of al abilthes across PortsrtM)uth. The Coun￿ acLep¢ed a mobon to cx)nduct a reyi8w of curr8nt transport provi$5oll lor people with disabilit*s aThJ to ￿gage with the DAG as integral part ofthe pro￿$ and has subsequently eam78rked funds to lntrLKJU￿ an accwsble ta￿ sd)eme. This has the poteniial to re(Juce loneliness and isolati[￿ and increase access to 11x6 wnwo*ing th8 ￿8[th 8nd we1lbe￿g of counuess people disatx'liligs a¢ross (aty. Portsmouth Pèrant V0￿e IPPVI i8 a team made up of parents and carws of thlldren and young p80pb8 with speclal edurational needs and disat)Ai18S. During the year PPV brwght togetlw p¥of￿￿onal$, p8rents/G3rers and young people to devdop and share best praCt￿e and erwring Ihw vmvs are heard and that thiklren and young people with SEND fft PortsmcKth can a¢￿ sUp￿rt and seThik*s to ma￿MIse their pjlential and promote pOsitr￿e outEoTne5. From October 2023 PPV bécame part of the Famtyi cdkborative inib8b.ve Igd by Home Start and Wgrp S￿￿￿ss￿l1Y transtboned ￿05$ to them togJpwl the crèation of F3rndy Hubs across Ihe oty. Dynamlte is a tearp. of young people. apj balwè8n 14 and 25. wfm) all have stEcial educational needs c disabilities ISENOI. Sitbng under the umb￿￿ of HIVE PortSm￿th. they as a link belween those who Comm￿s1on and run seM¢es for young twple in Portsmoulh and sèrvThs vgers 8tHI ￿rk to ensure that young people with SEND arg 115tened to and have a v￿e b) Ixyw ser￿7￿ are shaped and deliVe￿d localy. In 2023 D￿TraMite was transferrèd to the AldingtX)UFne Tr41St and HIVE ha$ maintained contact In a SLEPPOrt(ng cgpaoty. Th8 HIVE Portsfft)ulh was a co-apF*ant in a suctessfid HeaRh Delelminants R8sgarch c￿2￿rat￿ye IHDRC} funding Ixd frcm the NIHR and was awarded a yeai of funiting in January 2024. W8, along with our paTth¢r8 in the UnNe￿Ity of PortsmoLJth arKI P(*tsnvJth City CcMJnrA ar8 airnirg to tsing £5m Inlo Ihe oty to ¢reat8 8n infrastructure which supw# t>)mmunity led roseafch info the inequalittes tn hèatth outcomes acr05S the city over the foll¢Jwng fve yea¥s. HIVE Port5Tr¥)uth ￿)sts thè rKoJe¢t Offi￿ Fn OFworking Hub and will locus on engasTng (x)mmui¥ties and the VCSE in th8 wOjr￿n￿. Trustees have agreed ￿rStrateg￿ diredh)n. ano WrfUtU￿ tyans ar8to'. . CovPT0du￿ cc#rmLtr)ity hubswlhin Irtslii*s atr)wng to [￿d8 to inksm)alk*. WPP¢rt Ènd services . Ctrdevelop a nat¥th ofVCSEAUUw￿ focA￿ed on issues of knpotsnce to the VCSE . Wo** toward5 aThJ rxWuc¥ prc¥8cts around an wJeed s8t oftity heallh prioritses In addition, we aim to inprove our data and in5P3hl wabl11￿$. inF¥ov8 ￿ rX¥nMunKxtic￿ lunrtKJrts and impact reporhng and cc¥)tinue to inrK4ne g&*rdtiovt opportunÈbes lo imrKove rjjr finarrial sustamth"lty. FinarKial revl In puraly operalion lemis. th¥e was an erm￿￿ deficll of £101.082 lèawng our bdan(x 8t £1.662,104 tx)nsistirEg of £1,071.375 restricted reserves (r￿e 191 and £590.729 unrestiitsj reseN8S. THE HIVE PORTSMOUTH TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Board of Trustees uiyjated its Resewves Pdicy in 2023r24, taking ￿t0 acwunt fvturo fin8no81 ustainability and mised goa15 and thieo*v85 sgt the of reser￿e5 a8 £160,285 bas•1 on 3 months operational eynditur8 in 2022r2023. At 31 March 2024, HIVE PrxtsErK)uth W unrestrkxed lfreel ￿serVeS I￿allr￿j £￿),729 af Ihe year end. ￿ever, they hav6 designat&1 £419,596 of unrestricted lurvts fur Spe￿ aLtMty over the I￿xt ￿ years which will provide a planned investment in &tivibes ojrtendy hJn"d&J through grartslr95trict8d fvnds, Ind￿l￿g some $tsff rot&s. in order to CC￿tinue beyond the grant date vthilsl 8ELernative. s￿rtts offunding are pursued. The level of unr&sthctad and undestqnated funds at1he end of Ihe yew ￿ £171,133. ￿IghIty ex¢eeds the sale level of resèN8S. The Trustees will cmsider Th)ve5ting thi5 exce55 irrto a development fund which will allow to invest in innovative opportuniles for the VCSE 58Ctor. HIVE Portsmouth wcA1￿ f*0 to thank all grant a•Yardiw onj8nTrsab￿S who donated or awarded to HIVE P(xtsmouth during the fjnancial year. Furth8r detsi15 of these ean be frKmd in the ￿teS to the accA)unts. The ongoing supp(xi of the ICB and PortsrYNlUth Crty C(wJncil, who supp￿ the HIVE Port5fTKKth with a 51gntficant glft in of staff and premises costs. is thankfulty aCkrM>w￿gad. al¢Jng wth sbn¢&fy #p￿￿￿8t￿)n to BAE Systèms Ltd wlw) awarded a majcK grant to HIVE Portsm(Mth for th8 w[[K￿eS of serxrring ac￿mMrA1ab0n to benerrt the broader VCSE the firsi 0[￿ich opened ￿ June 202& Mwrrisks The IfUStee5 has assessed the major iisks to whth the d)ardy is expLsed, and aft saltsfied that systems are in place to mthgate gxpo8ure to the rtsks. Risk Mana9em¢nt The TrtEStees exanlne the major str8t8gic, tsJsTness arKI rrf)eratirwl risks faced ty the HJVE Portsmouth and maintains a risk registèr which is rewewed regularfy by the Risk & Cwtrol Committee arKI Twstee Board. Wh@rÈ aFvopriala, syst8ms (w procedures have been estaLdished to wThtig3te JF* risks faced and bUth￿tary and internal fiskE have been ￿￿nima$ed by the ￿mp￿mental￿N) of finanria pr￿edureS indud& authoris8tion limits. Policies procedures are alsts in place to ensure CA￿￿lane￿ health ar#1 safety. eq￿lty, diversty and other l*labon and these are peri(Kli￿￿ reMe￿*d to c(*)fim) tlw contu)ue b meet needs of the HIVE Portsmouth and a￿ upto date w￿h any changes to ￿¢S[a￿"0n. l* Novernber. Gathe￿ell. who are C￿rtr￿ to manage wr small lottery, contsctwl us to infom us of a ransomwaE attack on direct debit r￿lI￿e$ M￿agemerIt for the sman fottery. In De(*mber Gatherwell ￿nf1M￿l thai d8t8 had been cornprc*nised for a large nurrthr of (xjr cust(xners but steps taken had recovered the data wrth no impact. ICO and. Gatnb1W￿ CornmissK)n ￿ infCKTh￿d by GatheThvell. aThY we aL80 oiformed the ICO and Port5tnouth Crty coun￿1. The ICO confiThed that rKt regulatory acth)n was newsary. and Ihe Trustees detemiined that a sÈrFous incident ￿pOrt should be made to the Charilies C￿￿1￿￿. The Charity CoTnmis5Tr9n a5se55ed the Circumstan￿ of Ihe illCKlent aw¥J cowXt￿l￿￿ Ihat the tnJ8tees dealt wjrth the matter appropriatety aTrd re6ponsibty. Structure. governance and management The charity is a u)rnP8ny limiied by guat2nte& Set up on 24 Junp 2019 a¥NJ va5 Wlstered as a charity on 15 April 2020 under Ihe Mem¢yandum arKI ArtKles 0fA5&*ia￿. The ￿mpanY is rnallag9d by th9 directrKs, who are also Ihetrustees and are ele￿ed and co.tspted under the teffi￿ ofThe MeTryandum ofAssttiation. THE HIVE PORTSMOUTH TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 trustees. who arg aL80 the directors for the puipos8 of rAThpany law. and served during the year and up to the d8te ol sgnature of the financi￿1 slatemsnts W￿￿. Emma J(**nson Rory Massay Sandra Bramley Mark Scarborough Robert White Nicota Youem Cathèrine Longhursl Eleanor Snook& IReswJned 30 ju￿ 20241 Ify>pL¥ftted 24 Jun8 20241 Recruthent 8nd 8ppoinknenf oftmstees Board ￿n0￿1¢￿IlY undertakes a sknlls rev*w to ens￿re it has Ihe ryht balancE of skills kno￿edge and experi8n￿. Tru51ee Vaca￿•$ are advetlF8ed in kKal businesses. vdunteer centres, community ￿ntre5. libraries 8nd smilar outlets. Those expressng an interest by the Chair of tt)è Bc4rd, gNèn an ov8Niew of the organisaty.￿. a copy of th8 tTUStee rde de$￿pt￿. and to 8￿y, using the applicabon form. App1iGa￿nS received are eXaM￿e￿ &Jain5t the T￿t r8c8nt sklL8 audit and Invited lo submit their references and attend an sntgrview. The Chair and another trustee ￿)ndUCt inlerviews, ar*J make rec￿nMendatiOns to the Board, who revlèw the rec4Nnrnendations and deode whether lo rabfy c* reiecL ￿1 trustees are provided with an indudloFt with the Chief and g¢ven a pa¢k includirvj copEs of the ￿tiC￿S of As50Ci8tion and CtKle of ConducL TrustEes arg ajw erKKJuraged bj a￿esS onkne tsniThJ via the C￿lIng on B(wd si￿. Qu8lrfying lthrdparty indemnitypmitysKXJ$ The Artic18s OfAss￿81￿ wuire one thi￿ of the trust8éS to retir8 eath ye8r. those longest in Offi￿ retiring firsL Retiring truskees a￿ eligible for r8-apFK)intrnent The Board thnsiders aTry 3ppliGabons for re-appointments to en$￿￿ regular Mfr•shSng tsfth8 Board arrfl th8 rwessary b￿n￿ of skims, cornrNth￿nt ar￿ èxp8ri8nCE. B•neficia Interest N￿e ol the trustees has any beneficial interp5t ffl the company. of the In￿lee5 ara ofth8 ￿MpanY ar guararrtee to wntribut¢ £1 u) the evenlofa wThffirq Ip. Loma Reavley, Chief Officer, has been appointed by trusi*os to rnanage the day-tcHlay ￿rat￿nS of th8 PtIVE Portsmouth. The Board has approved a Stheme of DelegatK>n Sets out the deck8ions reserved for the Board to make and those ddegated lo the Chief The Chief Ofvor has delegat￿ authority foroFerational matte￿. Audltor In ac(￿rdance wilh the e4npanl5 8rbdes. a protK>5ry Ihat SutnerA¢Mlit be reaPp¥￿llted as auditDr of the company Mll be put 8t a Gener81 Meeting. trustee's reFx)rt wa5 approved by Ihe Board of Trus*es. Robert Whrte Trustee THE HIVE PORTSMOUTH STATEMENT OF TRUSTEES RESPONSIBILtriES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also th8 dir8dor5 of The HWE P(￿rThth the wrw)se of company law. 8r8 responsible for prepaF¥Ag the Trustsg's Report and Ihe finanod staternenls tti a￿x￿(ran￿ a￿￿Li}bIg law and Uniled KingdorYT A&xuntlng Standards IUrNtwJ Gerwaty Accept&JA£ctsJning Prtcticel. Cofflpany Law r8quirgs the to Fweparo ffinanaal Staten￿nts f(K eath finanual year which glve a twe and fa* ew of the stale of affairs of the chaiity aKI ol Ihe ino)miw4 resources arrfl ap￿1(a￿0ft tst resources, induding the ÉrÈcorn& and exper¥Jilure, of trtg chan'tstAe (tsmpany lortfAt y￿. In preparing Ih8se financial ststerrEnts, IhelJustee5 arE required lo: . select wita￿e accounl'ng Imkngs and then appty them c￿. - obs8rvè the meth(xb and principkn in Ihe Chaitios SORP. . makg J￿erne￿ts aThJ estimates that are rèa50natAe aThJ - state whether apptK8bl8 UK Slandards have b8en foJkM*d. subject to any materfal d8partLJr8S disdtsseil and explained h) (be finanaal statements; and - prepa￿ financial staternents on tre 9)ing cc￿(￿M ba515 rt is inaFvropriate to presÈwrE Ihat the charity wll continue 41 ep8ratiM. Th8 tru8t8es are reSpo￿lble ￿ kwNn9 ad￿ accthJrÈUrNJ records Ihat ¢JisdDSe wlh Easonable accvracy at any time the financlal p0S￿On of the charity and enab￿ tFtern to engjre that Ihe financial statements compty wtth the Companies Act 2006. They a￿ aL%o responsEtltr tr safeguarding the assets of the chajity and hen￿ for taktng rea8on8ble steps for the and detection offraud and other irregEdarilie5. THE HIVE PORTSMOUTH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HIVE PORTSMOUTH Oplnlon Wè have 8uthted the finanaal staiements of The HIVE Portsmoulh lthe'charityl for ts year ￿ded 31 March 2024 which wnwrise the 5tatetnenf of financial aclDiÈties, the baler￿ sh*t. Ihe statement of casm flows at)d notes to the financial statements, including s¥gnifirAnt &(￿ntir￿j pdicies. The finanoal re￿ting framework that has been apK4ied in thèii preparalon is ath"(able law and United A(￿unting St8nd8rds. induding Financial R8POrting Stsndard 102 Tbe Finanual Repothng &8nd8rd applratlg 17 th8 UK and Repl￿￿C of Irel8nd IUr*tsd 1fjngdc￿ Ge￿Tal￿AceePtedActtJUnung PrBdic£}. In oui opinion. the fin8noal statements.. gfve a true and fair Mew of ts state of Ihe charitable (tJnyaWs allairs as at 31 March 2024 and of its ir￿0[￿1￿ re50urc8s and applicalon of resouiees, for the ytarthen 8tNJ8d., have been prDp%rfy txwared in ￿)[dance with Untsj Genaraly Ac£￿ted Ac¥x)uthng PraeticÈ.' and have been ￿￿Pared in auxxdance the reQuirem￿ts of Cc¥npafiF&sAct2006. Bas15 for oplTrlon Wg eonduct8d our audtt in accordan￿ *iih Intemationa StarKJard$ on Auditirg IUKI IISAS IUKII and applicab19 law. Our ￿$pr￿sIbili￿s under thtss* slandarts are fwthe.. IJeS￿lbed in the AutliWs responsibiljties lor the audit of the financial statements of our rerth. We are independent of the in accO[dan￿ with the ethical requirèmènts that are relevant to ￿dit DI Ihe finar￿tal slat8m8nts in Ihg UK, indudin9 th9 FRC'S Ethical standard. arhd we have fulfilkd cwjr othar éthi(*l re$W￿b￿l￿IÈS in with these requirements. We bejieve that the audit evidence we hava (rt)tair*d is svfvent aThJ apptwTrate to wivide a ba5k% (yjr opinwJA. Conclusion5 rolating lo golny ¢on¢•rn In auditing the financial slatements. wg have Ca)nd￿kn3 Ihat the trustee5 use of Ihe COn￿M basis of acct)unting in Ihe pr8p8ration ofthe finan￿￿ stat8r¥wts apprDpriate. Based on the we have [ErfO￿￿d, we have rwl ident1r￿1 any material uncertainties retating to events or condity.ons thaÉ, imlividually or th1gCtW, may cast ￿ni￿nI dryjbt on the cJ)ariWs abw to conb.nue as a going c￿nCeM for a period of at least tW8]ve rnonths the firta￿al staetnents aLrthoti5ed for issue. Our respon$tslsti'es and Ihe res[th￿bIKE1gS of ts trtthes wih rew lo g)ing ￿Cern are desuiw in the re￿an1 sections of this ie Other information The other Informati￿ Ix)rnpri5es the irf(vmatron th￿urted ffti annual re￿ other than the finandal ststements and our aLwJ¥torf5 fEPW)rt ther￿. The ￿slee$ a￿ re¥x)nsii%e th8 oiher in1oTMa￿n (x)nt8N%d wtthin th8 annual rt. Our opinion on the financial statements does Wt Ex>ver the otlw iThf0rrnati￿ and wg dti rjot express any fomi of assurance condusiDn there￿. Our res5KJn8ilylity B to read Ihe other infomiation and. in cloing so. consider wh8ther the other IFth)mIat￿n is rnatgrially gnconsst•* wtth the finalc￿ 5talements OF knowkdge obtained in lh8 cours8 of the aLSdit, or olherwise aprears to ￿ Mater￿lY Ir we id8ntify su¢* mat9rial tnconsi5tgnci98 apparent material mi$5tatefrEnts, L4Y are fequirgd to deterni￿￿ ￿ther th*s gives rise to a ma¢eTial misstaterrent in the financial slètÉmènts thernselve& If, based the vwxk we have perfo￿e(l, we cot]clude that the¥e is a matèrial rnisstaternent of this olt*r Hifc¥Tnakn. ￿ are r￿UlTed to rep)rt that facL We have nothnJ to ￿pr￿l in this regard. Maiters on whl¢h we ar• raqu￿d to report by exception We have nothing lo report in resped of Ihè m8Eter3 in rdation to IhÈ Charities (Accounts 8rEd Rew)rtsl Regulations 2008 faquirè to report lo you rf. in wropin¥)n: t1￿ infomiatTh given in the finartral st8t8m8nts inrxynsjstent in any materpl respect w￿h th8 tr￿￿tee'S reporty. or sifficienl ac¢ountiThJ reecrfds h8v8 fKrt be8n kepL or Ihe fiFtsfi￿al statements are not agreement ¥￿th th8 aixounting records.. or we have not receivgd all the it)fomMtion and ewan31￿ W8 requir8 tur our a￿rt. THE HIVE PORTSMOUTH INDEPENDENT AUD￿OR's REPORT (CONTINUED) TO THE TRUSTEES OF THE HIVE PORTSMOUTH R•sponsÈbilÈties of trustees As explain￿ morè funy irt thè staternent of trustee's reSrX)rtr&bdit￿, the Injsiees, who are also the directors of the eharsty for the purpose of comp8ny law. a￿ ￿ponSIblEf￿r the preparalion of the finarTrcr&l statett]en15 for being s8tisfEd that they give a and fair view, and for such int8mal eontrd as thè trLtst8es datèM)1￿ is ne￿SSary to enable the preparat￿n of finana81 ststèmènts that 8re free frorn materia rnÉsst8tsm8nL wh8th8r to trsud or èrmr. In prepar￿￿ the finan￿81 statem￿. the trLtstees a￿ responsible for assessng the Charity's atsility to continue 8s 8 going concem. disdosw. as applK>N&, mattèrs r8lat@(I to goiNJ corKtm and using the gc4ng concem basis of aecounting uEilèss ￿ trustees etther intend to ￿1￿￿1812 the ch8ritabl8 Ix)mpany or to C88S8 opergtion8. orhave no rEalistic allernthe Im￿ to do x). Audltor's responsibilitios forthe audit of the financial staternen W9 have been appoint￿ as a￿[¢tOr under seclK)n 144 of Ihe Charitte5 A¢X 2011 and report in aE(x)td8ni* w(th lh& Act and ￿leVant wulations made or Itawng eff￿t tsreunder. Our objethes are to obtsin reawotde assurance aiojt wlkn Ihe finarx?al &aterwts as a are free from m8teri8J mlsstatÈn￿nl, w￿ther due to Iraud LY error. arxl to issue an auditorfs report that inchvjes our opiThon. Reasonab￿ assuranc8 ¢$ a high lev81 of assuran￿ but is not a guaontee that 8n audit cmdurjed in a¢cord8nc8 ￿￿th ISAS IUKI will always det8Ct a maierial misststemo)t when il exksts. Mis&atements can arise from fraud or error and are (xnsidered [llater1￿ rf. iTrJiwduaUy or the aygre981& they could rea50twbly i* expeded to infiuwGe the ecA)nomi¢ decisw)rkS ol users taken on the b85i% of th858 finarrial stat8m8nts. Irregukrfuas. it￿1ng fr8ud. ar8 ir￿r￿￿ of ronalarTh $1*01 wtsn the charity tecomes party to the contractual provIs￿AS of Ihe iE&rumenL Financ1￿ assets arKI offsèt. net 8nx)unts wesent8d wi fhè finan&al statements. when th•M is a I￿allY 6fiforce8trAe ￿ght to set off the Tettonised 3mounts and there is an interttion to sètuè on 8 net bas￿ orto reali8e the asset and setue the liability simdtanwsty. -16- THE HIVE PORTSMOUTh NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountsng pollGI•s (continL￿dI Basic financial assets, Ythich Tndude dotlors and cash bank bakrw, ¥e inits.ally m88sur8d At transaetion pricè induding transa¢t¥)n costs and are sthequenty caxried at a¥Mrtige(I cost U￿ng the effective inlerèsl method ￿[￿e$S the aFrang8rnenl o)nstitules a finanung transa¢tTron, ¥vhere the transaction iq measurad at the presenl Va￿ of the futu￿ T&wpts discounted at a market rate of interest. Fmancial 888éts ¢lass*fie¢J as f￿Vable within one year are ￿t anv)rbs•J. Baslc lInan￿al Ilabllltlos BB$￿ fjnanoal liabilties. induding Ixed1￿ and barnk are inrfialty re{x)gn￿gd at tr8nsactM price unless Ihe arrdngenRnt constitut8s a ffnancing fran￿￿0￿, vh>w8 ts debt instrument is measured at the present val*Je of the futrEre payments discounted at 8 market rate of Int￿e$l. Finartial liabilities dassrfEd as p8yabEg within one year are not anN)rtised. Dabt instwments are sub5equenty carried al aM(*ti￿1 oJs( using the efferlwa interest rate r[￿th0￿J. Trade cr￿ltO¥S are obligats)Ns to pay IDr gJrAls ty SeN1￿ that hav8 b8en acquired in the ordinary ￿￿rse of cparations from $upr4Ets. kniyJnts payable are da$srf￿￿ as IxtrThent habit￿"e$ if payment is due withln one year or less. If ML they are pr8s•*ed as no¥buJrrent li8btlitses. Trade ueditoys are reeognised inithglty at transactiort price and subse(yJenlJy measLred at ￿l$ed ¢06t using the effective int8r8St m8lhod. Derncognitlon of financial Ilabllilles FinancAal li3biliti85 are derewnis8d when the ¢*ariVs contracbthl objlgatK￿ 8xpKr8 or are dtstharged cancelled. 1.11 Employee beneffts The costs of empbyee tenefft5 are rewised as a and ￿ ax[￿$￿. The (ts of any Un￿e￿ hojhfjay entidenRnt FS [￿niSed in the ￿rIOd in *thich the emptoyees services are r￿1ved. TarrnlnatiC￿ beneffts a￿ r8cognBed xnmgJiate]y a5 an expense ￿ the charity is demonstrabty commiited to tsrnoiate the 8rnployTrent ofan empbyee ￿t0 prO￿e temiinal*)n t*nefits. 1.12 Retlrement beneffts Payynents to del1￿ cx)ntributth rètir8ment b￿Bfft SCI￿￿5 are ctharged 88 an extense as they fall d￿. Crltlcal a¢¢ountlng eslimates andjudgtrm In the appocation ofthe clwrrws ac(x>untry KdKies. the trustee5 ar8 required to m&ke1￿19￿Mefits, estimAte$ and assumpt￿n$ atout the carryiTrJ am￿nt ol a￿t5 and liabilibes that are not wdily apparent other Sour￿8. The es*mates and asscxialed assurytions are t>as￿l ￿ histoical exF¢rience and other f8ctt>rs that Th6 8slim*es and undetying as8UrnPthMS ar¢ reV￿e(s on ap. basis. Revisions to accounlng estimaies are reo2gN>is8d in the pettmj in which Ihe esEMnaie is revised Whe￿ the rnVis￿fi affeLts onty that period. or in th& parKxI of the reV￿on arKI luluro rMi)ts ¥ffi￿e the misEon affects both current and fuhAre periods. 17- THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from don￿10￿5 and legacles Tot41 Unrestrlcted R•strictod lund$ fvnds 2023 2023 Totsl lunds 2024 X124 2023 Donatp)ns and gTrfts Grants receivable DOn8t￿ gorxts and 8ervicg8 17,208 139.368 353.2( 11,208 492,568 6.285 535,118 6,285 698.127 1.233,245 220,730 220.730 224.830 224.830 371.￿ 3&3.200 724. 766233 698,127 1.464.360 Donatlon5 and gffts Sweet Ptoject5 L(Kd Mayor Other 4.978 1.309 4,976 1,309 1.418 1,418 11208 11.208 28S Grnnts recdvaljle for ¢or• a¢ti¥i Portsmouth City Counull NHS PortSM￿th CCG PCC Wellbeing cyp VCSE Solent NHS Trust HDRC l¢X).(OJ 1CQ,OCK) 25.OLKI 25,000 46.fXK> 46,CO) 30.fm 30.(K 50,C(0 50,cTh) 4,2(Kl 96.(￿ 98,(KN) 109.418 129.ODO 20.000 129.000 20,000 158.LKJO 158,000 Infrxslructure grant Oth 109.418 109,418 118,700 109,418 816,827 698.127 139.368 353.200 491 535,118 698,127 1,233245 Donat•d goods and $eryices During the year various staff rnembers were saoythd from Iheii emtyoyers to carry L*rt on behalf oflhe charity, and use of premises was also provKled. In ar￿than￿ with th*ity's a(xxwntiro policy the trustees Èstimate the value of thests sèrvTces to be £220.73012023- £224,830). 18- THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Incomefrom chaAtabl• activi￿$ Unrestslct•d Unr•striett¢J ful￿$ nds 2024 2023 Charltable activitl•s Sale of g(XMIs 5.520 Income fr¢4n Othertrading xtSvltlos Unrestrfct•d Unrnstrlctsd funds funds 2024 2023 Spon*Jrships av¥J SOLY81 tottwies 15266 17.421 Vnrestrfct•d Unrnstrlct•d funds funds 2024 2023 Interest receNab 19- THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 Expendlturè on charitabk activmles 2024 2023 Dlr•rt eosts Slaff costs Oepreaatw and sm￿lsa1￿Jn Dlgttal sysiem IwebsFtel operat￿al reswr¢es Vdunteer & Radkin PCOS 8uildiroJ works {North and SouLh Hubl Whrfte goods for Winter Grant Wtr2ramme try (Y)Sts 451 J34 f1,777 440,058 11,777 605 94,904 86.095 224 6,703 46,563 543.859 600,757 Granl funding Df act￿1￿$ ($68 rK)te 81 124. 146.883 ShaR of$upport and govamonce ¢osts {S￿ note 9} Support Govtsma￿e 158.403 19,538 102,715 21,336 846.380 871.691 Anaty515 by fund Unrestr￿ed fuFkYs R&strieAed funds 510,727 335.653 594.776 276,915 846,380 871,891 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payab 2024 2023 Grants to insbtuts￿." PCC D￿cretIonary ppv Pather5hip FOUThYatw￿ Iv8riOU51 Portsmouth Co¥nmunty Lottery Off Ihe record Motiv8 Shrft- MOU Ag& UK Th8 Good Gym VCSE HaTdshlp Ivar•)usl th"nty)otwn8 Tru8t Olher 4,440 25.830 23,730 9.000 14.395 16,062 49,875 13,500 8,880 6.093 10,000 9,900 19.$40 10.367 36,551 7.500 124.580 148.883 Support ¢osts allocatgd to athitl•s 2024 2023 Oeprec#ats"on and 8￿rt$sai￿)n Printing. postag8 station Administration IT and sup Con5ulling Subscriplichn5 Bad debt wrtte off Insur8rKe Bank charge¥ Advefbsing R2te$. deaning and wt 9.357 213 10.383 11.(ffj5 9,136 522 3,798 13,262 2.129 185 6.917 2.346 956 2,494 104 5.123 124,196 14,050 3.870 60.439 21.336 177.911 124,051 Analys8d betw••n: Gharitable activbbes 177.941 124.051 21 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs altocated to adlvhies Icorttinuedl 2023 Audit f8&8 Accountaney Legal and F¥Ofè&<￿ol 2,425 5,180 2,310 5,160 13.866 14,050 21,336 10 Trusts0S None of the trustees lor any persons oJnnei#ed *￿th them) Yefftived any remureTrtbon or benefits fr￿ tre charity duriThJ the Cur￿[￿ arvj prior year. No tnJstees r8C8N8d any feiMbut5￿nBn* 04 any oÈrt of pocket eyn8es durin9 the TrJuent ￿ pri￿Year. 11 Employees Thè averdge nxjnthly numLw ofernpbyees dwng the yearwas.. 2024 Numbèr 2023 Number 13 15 Employment costs Wag8s and salar*5 Sock31 security Costs 430,199 16.128 5,007 420.828 14,479 4.751 451.334 440.058 Incauded svllhin Wdggs and salarfès 8r8 ernMoy7Wt with staff ¢onated ty other organisth.ons ttytaling £152.CKKI {2023f166.1CQI. Tr payrtll for such staff remains ¥￿th their sub5tantiV8 pk)y6r, therefore while Ihe th8rity rec4yJni%è thè rA￿ts of tw WoyN*nt, it <1￿ TKrt w)dud8 thern within the employee nurnlvs. R8muneratlon of key fftana9en7ent personnel The iemunetatp)n of kèy management petsonrBI is as foknys. 2024 2023 Aggregate compansabon 52.5CX) 41,154 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Taxatlon Th8 charity is exempt from tax inca)￿ arml gains f8lltyYJ whhin sec1￿)n S)5 oFthe TaxesAcl 1988 orsection 252 of Ihe Taxat￿￿ of chargeab￿ Gan5 1992 10 the ext&ntlh8t these are applied to it5 cha¥itsLle obj'ects. 13 PTEor Y•arAdJustmgnl8 The ffinarKia Sts1￿￿ts I[￿[￿{* a reStAt￿ for Ihe comparative pen(KJ whith has b8en m*Je to ts)Ne¢t r9StriCt￿ grav¥t incorne. ￿$13t￿ment has re￿d in a £50,CW wKTrase in other dabtors 8nd iestricted fund5 carried lorward as at 31 Marth 2D23. 14 Intangible ffxod a55ets Dl9ltal system .V￿bsEt• IncludSng ElStomer rolal(onshsp Cost At 1 Apr4 2023 and 31 March 2024 41.250 Amortlsètion and ImpaSm￿nt At 1 April 2023 Arnortisaticx) tharg8d tsthe 33,000 8250 At 31 March 2024 41.250 can￿ng 74)K>Unt At 31 March 2024 At 31 MarGh 2tr23 8.250 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible fixed assets Leasehold CompLrt•r5 Tg141 Cost At 1 A￿1 %r23 35,270 28.751 1.086 64,021 1,086 At 31 March 2024 35,270 29,837 65,107 OepreGÉ#tlon and 4mpairm•nt At l Ap￿1 20ZJ Depreciation chargEd in the year 10.581 3.527 12.646 9,357 23.227 12084 At 31 Ma￿h 2024 14.108 22,003 36,111 Carrying amount At 31 March 2024 21.162 7.834 28,9 At 31 2￿23 24.689 16.105 40,794 16 001)tors Rtrstaied 2023 2024 Amounis fallin9 due wlthin one year. Trade debtors Otherdeblots 148,056 10.(X)O 8.464 38,056 60,000 866 164,520 98,922 17 Credltots: fallln9 due wSth1tt on8 year 2024 2023 Othw t8xatiC￿ awj soc4al seawity Deferred R¥come Otr*r credTrtor5 Accrua15 8nd deferred ij 4,362 98.000 2,709 16,570 18 6,3r 2013 18.012 33.(r24 121,641 18 Deferrod Éncome 2034 2023 Other deferT8d inc¢)me 6,306 98.000 -24- THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS {copifiNUED) FOR THE YEAR ENDED 31 MARCH 2024 18 D•ferred iwtcom• Icontinuedl D6f8rred income is indLKlod in the financial strknents as foHows'. 2024 2023 Deferr•d Income i8 induded within". Ctsrrent Ik2bilittes 6,306 98,000 Movernenls in the year: D8ferrBd incorne at 1 A￿1 2023 Released from pr8vK)US ￿K)d$ Resour￿ deferrad in th8 y8ar 98.000 198,0001 6,306 247.710 124T,7101 Deferred Inco￿ at 31 Marth 2￿4 98.000 Defèrrod income of £6,306 {2023: £98,O)O) is in relalM)n to grant arrwnts paiL1 in advanc•. THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 19 Restrkted funds Th& restrided knds of the charity the unexpended bakrTrEes of donation5 and grdnts held on twst suL¥eGt to SP81ific conth.tons by donus as to ts)wthey rnay be Lwd. At 1 Awll 2023 weSour￿ exppnded Tr4nsfer5 At 31 March 2024 cyp SoEent NHS Clean hwJh street grant Nabonal Lottery ComnKJnty Fund. IMOV￿*)n Crisis grant, digrtal lending Ibwary & school unifomi Reca)nnecting C¢xnrnunit PCC- Stsff costs tJi5cretion8ry & prants Solent NHS Ta￿t C￿nITrUn1catiOft5 & Engagémant Offi￿r Communty Lardèr Infrastnj¢tU￿ & Wdlbelng ¢hecks BMI bwiter HDRC De¥ek)pmentYR Pandemic support Supportsn9 poverty strategies HIVE Q¥nFnunity Fund- Man He*th HIWCF BAE SystÈThr& Portsm¢Ath Dis#tNIty F(￿rn VCSE Hardship PCC &NHS CCG 141.0221 143.3251 54.978 6,675 .2051 21.247 {If.0671 10,180 11,fA)5 17.571} 4.034 500 78,042 78.042 44,168 16.(M)01 18.0781 38,168 2,276 14,848 21.888 121,8461 6.￿￿8 21.888 25.tKxt {21.8311 {2.5101 12,4501 (17.1301 3.169 13.676 1.750 31.502 30.000 16,186 58.632 110.0001 161,625 2.881 725278 422.918 114,9731 146.652 2.881 181.765 404,553 10,680 ,302 161,5131 118,3651 119,3401 149,6981 1(Kl.OQ) 1.072,825 3532LMI 1335,6531 118.997) 1.071.375 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 R•strictod fEEndg Icorrtlnuedl Restated Transfèts At 31 March 2023 Prevlous year At 1 Aprfl Inc*)mlng Resourees 2022 resourc•s èxpended cyp Clean high street grant National Lottery Cornmunity FutMI- Innovation Cri8ls gront, dEgtt8118rxIi Ilbrary & 5ch(KA unif Re￿nneeÉrKj Cotnmunthes PCC- Stsff costs Discrationary & hwseWd grants Sojent NHS Trust communical.ons & Engag*nent Offi Community Larder InfrastrnetUTè & wellb￿n9 ehecks Bid writer Capacity & Tran*ti'on Fund Palldemic support SUppO￿ng povety stratégi85 HIVE Cornmunty Fw)d- Mènt H8alth HIWCF BAE Systerns Portsmouth Disabilty Fonm 50,000 7.205 21247 21.247 36.372 21.500 78.042 19.2151 121.0001 (15.5521 11,605 500 78.042 2.417 {48.2491 111.777) 44,168 5.802 17.579 10,459 21.888 1216111 14,848 21,888 8225 28,849 21246 25.(KMJ (33.225} {12,6631 16.186 (21,246) 139.3681 58,632 30.OIXI 225,[ 163,375) 161,625 2,881 125,278 422.918 2.881 149.710 (14.432) 110,0001 422.918 698,411 698.127 1276.9151 (46.7981 1.OT2,825 -27. THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 R¢strlcted fund5 (Continued) cyp To p¥oiridè SEthcienl resources to support the deVeI)w￿nt ofthe 5ervres voluntary and Community sector for children and young peoplè's s8rVic￿S in Ports[T￿U1h. This fom an integral wt IA lh8 Stsrt for Lrfe Programme. Clean High Street This ¥elates to mnmunty prDPCtS ar￿ eng&jem￿l in HYJh StrBets. National Lottery Comrnunlty Fund- Innovatlon Grant To provide support for in￿)vatiVe ideas afid proia(ts from small vokJnt8ry or rxjmmunty groups Yath lived exptrri*nc8 to test approaches wtth 8 View to feachD¥J a su51aTh￿ fcotirvJ. Crfsi$ Grant. DI￿tal Lendlng Llbrary & SchoDI Unrforni Shop To fvnd the ernergency assistan￿ discrètKw Uls￿ grw)ts. to enhaT￿ Ihe dtgital JerKJtng Iibrnry by the pn)vIsi￿ of d8vices a￿j Intsm8t ￿)nne￿aOnS & tu ernery8nw assthnce grants to Use￿ oftha HIVE 5th001 unrform shop. REconnodin9 Communitiès The purpose of this grdnt scheme tcs sur4X)rt Portsmr￿ residents in aC￿sSing th￿r local (x)mrnunity, and lo safdy retum to rn￿e r￿rMal ways Df Irf8. staff Costs To fund addifyonal stsff costs asthakd *ith the of spacft 8upp¢xt for the cl￿raIlY Extremdy vulner￿1& gwp during the 2rwJ vrd¥e of th8 Covkl 19 Pandèmic. Olscrellonary Grants To provide adn￿n￿*#ti¥e suprth l￿fUlfil￿￿￿ and fvTrJing tr Cov¥J Wintw Dtscr&tion8ry Grant Solont NHS Trust provision and oveThght of Ihe Vdunteer SLWOrt PrC4JYaTh￿. to set up a Yacdnation centre and fvnd vthjntsers lo be on s51e. Communications & En9agement Officer To lun(J 8 CDrnmunicab"ons & EllgagerTEnt Officer ￿rThe HIVE PorL4ETrwlh. who t￿￿de supptht for Ihe widèr VCSE as wll. CrAnmunlty Larder To se( up a Ctxnmunty Larder WhÉte l>x¢Ys offer. VCSE Hardship To support VCSE OrgaThSatior￿ in thb Cty at fffiancial risk where the rJ)st of ￿Ing uisis ha5 ieduced abillty to providg services. Solent NHS To build gngagement vAth and r2pacaty forreseartth and evahJalk)n across cJ)mmunrW in Port5rn0Uth. PC¢& MHS CCG To la￿litat0 the ¢>>W￿jUction 818m8nl ofthe Cc•mtThJndy M8ntal He￿th Framewotk ICK4HFI Infra5trueture & Wellbeln9 To set up the infra5truthJre for aThl Wlty 5upporL to ensure tho management and ov&sfy3ht of w81l.be1￿J chth. Bld Wrfter To fund a b*J ￿llerIorThe HIVE Pctsm(Mth arKI w¥Jer VCSE. THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 R•strlcied funds (Contlnuod) Capacty & Transition Fund To replenlsh the Capw4ty and Tran*"t￿ Fu￿1 and match l0tt8ry ¢MtrttxJtions. Pand•mÉc Supwrt To suprKrt iMIivKIu8ls wad commuiwlies impa(M by the ra￿1¢, parti￿L9￿Y th8y a￿ clinicajly 8XtreTh*ly vulner8Ne or have sUffer￿j ad¥erse wry)act seif.isd8tir￿. Supportin9 POV•rty To support poverty in the Cty. HIVE Communlty Fund- Mentsl Heafth To support gaps in the mentsl prowsion in the cmys￿r￿a Mih Statut￿Y pathers aThJ Ihe wdef sector. HIWCF Thls indudes the BAME Connect & Thrt¥• vthith ain￿ to tsJi￿ on the bLxlhy and BAME ￿rk ￿thIn PortsrTh)ulh. It also ffidudes the HIWCF - &hool Unlfwm airrB to ￿nIrit￿jIe t￿[KIS th& costs of 8etbng up the 8dKKA uniform b￿k. Firfalty. tt indudes1he HIWCF- IAA ￿￿￿AkI Trainingwhith airns to provide first aid tlaitung. BAE Sy6tem$ To Contri￿Jte towards Ihe lease or licettce, fit oul aThY ftJm¥shing, ar￿ operthn of up to hvo FI￿1$eS to allow VCSE organisations to wrata. eoHaèK>T8te and ￿0￿de Se￿1(￿5 to the kncal communlty. Portsmouth Digabllity Fonvn On 20 January 2022, the assets and aclwtbes of P(*l￿o￿th Di%8bthty F(rfum were merged into the chsrity. The pr¢xeeds on thg mergefj ar￿￿￿ted to £422,918. arKt ¥re sh(ywr* as a restsicted donat'un in Ihe accounts. THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 hlARCH 2024 UTrrestriGted fitnds Thè unrestrlcbj furvjs ofthe thanty ce4nprtse the u￿￿K￿d8d b818nw rfdonatiorts snd gr8rats which are not subject to Cond￿On$ by dorKYS arK1 grantors as trj may be used. Theso include designatad fuTrls whid) have be9n set aside tyjt of unrestricled fLwvts by the trustses for specific purrA)585. At 1 April Incoming Resources 2023 resources expended Transfers At 31 March 2024 Portsmouth Communty LottÈry Proiects supporbrg w(¥kwith Mental Health xl Ihe Qty D￿Jital Indusx)ll proiects Building Sector Capaoty Discr8bonary grants f( organisaticrts suptmyting sidents in ¢risis Supp¢)rt the devekynent $8t up of P8ntri8stsrf across the Ctty Povety strategylproj8rAs Partnership srnall awards- supp)rting groups and organisatx)ns across the dty WFth food provisK)n Donation Pantry Sweel Ge￿1 funds (7.4641 38.189 161,625 28.079 ).593 114.9731 {5.34n 146,652 22.732 90,593 16.LlJOI 37,000 55.535 {5.380} $0,155 ,000 35,605 133.330) 17.500} (430,7331 2,275 2,￿0 171.133 2(K)271 382.598 18.997 6￿.361 (510,7271 18,￿7 590,729 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Unrestrlcted funds {Contlnuedl Pr•vious yw. At l Aprtl Inwnlng Resources Transfers M 31 March 2023 Portsmouth Cornrnunlty Lottery P￿Jects SUFwI'ng work wrfh •Aental Heatth in tr￿ Ctty Digtsl IndUS￿n prqects Buikling Se¢b)r Capaaty Discretionary grants orgallisations gjpwrting residents in crisk SuppDrt the devek¥xnent and set up of PantriewLarders ar￿5$ the City Poverty strategylproiects Parknershtp srp.all aw8rds- SUPPOtkng groups and organ1s8ti￿S scross the city Wtlj) food provisio Gen•rdl funds 45.653 45,653 161.625 28,079 ,593 161.625 28.079 90,593 43.C(M) 43.000 55.535 30.000 55,S35 30,000 35,fA)5 1443.292} 35,605 200,271 454.683 783.656 {594.776) 783,656 1594.T161 46.798 690.361 21 Analysls of n•t assets b•tweÈn fijnds Unres¢rIC￿ R•strictsd funds nd5 2024 2024 Totsl 2024 Fund balances at 31 March 2024 are represent•d by: Tangible assets Current assetsllliabilitiesl 28.996 561,733 28,996 1,633.108 1.071,375 1,729 1,071.375 1.662.104 Re5tatsd ￿n￿trIcted Reslrthd funds R85tated Tota 2023 2023 Fund balan¢•s at 31 March X123 *? r¢pY•sented by: Intangible fixed assets T?￿l￿e assets Current assgts1lliatrAiti&sl 8250 40.794 641,317 8,250 40,794 1.714.142 1.072,825 6￿,261 1.072,825 1.763.186 31 THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS ICONTJNUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Operating l•as• comrn1ts￿nts L•ss•o At the r8portsng end date tho ch81ity had outStandW￿ wmrnilments for lulure minirnurn lea* paY￿vants under non-canTrllable orerating1è85es. ¥vhich fdl due as bmows: 2023 Withln ane year 8èiw88n two anfj y88rs 37.894 17.877 20,946 35.591 55.571 56,537 During the yeaf. th8 tharÉtabk ounpany made pa￿niS undw 0￿rdb¥¥j 18a898 totslro £27.323 12023.. £13,133). 23 Relatad party trans•ctlons There no dÈsLknabJe Tr￿ted paty transactK¥ts durng the Yew12￿23. none). 2024 2023 ID8f(citysurws for the yethr 1101.0821 610,092 AdjustsTwts tr." 16) 21,134 (21 20.913 DeFwiabon atxl irTy1m￿t of1￿1b* fred assets Movements ￿ wort(ing ca&Mtal: Ilnwsel in d8btors Increase in credit(XS IDecTrasel in deferred tnc*Jme 155.5981 3,071 191,6941 {55.5831 8,836 1149,7101 Cash (absorts￿ byyynerated from op8raUMs {234.1691 434.546 25 Analysls of ehanges In net lund$ The charity had no mateital debtdumg the yw. -32-