Charlty reglstratlon nUmr 1189067 Company reglstration number 12064936 (England and Walès) THE HIVE PORTSMOUTH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE HIVE PORTSMOUTH LEGAL AND ADMINISTRATIVE INFORMATION Trusto05 Rory Ilasgey Sandra Bramley Rev RoberthlIe Calherine Longhurst IApwnted 24 June 20241 IAppointed 9Apnl 20251 lan Morris Secrètary L(¥na Rea Chartty number 1189C67 Company n¥mb•r 12C64936 Reglstsred officg Ground FIDur Centraf brary Guildhall Squartr Hampshi PortsmLth P01 2DX Ind•pètsd•nt examlner Dawd Knifj ltt FCACTA Carpenter Box PiFer How 4 fAJkes C¢xwt Bognor Road Ch1¢Yt P019 8FX 8anker5 Bardays Bar* Pk 107 Comrneraal Road PortsmoLrth Harnp5hire P01 1BT
THE HIVE PORTSMOUTH CONTENTS Page Trustee's report Indepen(nt examw)erfs report 12 Statement of firtancial a(vtyes 13 Balanco $et 14 Stslement ol cash flo 15 Notes to the finanual s&itements 16-33
TRUSTEE'S REPORT {INCLUDING DIRECTORS. REPORD The trustees prasent their annual rt and financial staiements for the year ended 31 March 2025. The finanelal statements have teen prepared in a¢¢ortsnce wth the ac£ounbng rdicies set OLrt in note I to the financial staternents and compty wrth the chanty's Memorandum and Articles of Association, the CoMpanS Act 2006 and'Accounbng and Repo9 by Chanbes." Statement tsf Recorrnnended Practice applicabk to charities prepanng their acojunts in accordan with the Financral Reporting Standard applKable in the UK and Repubk of IreLand IFRS 12} leffeclNe 1 January 2019)". ObJtIVe• and aclivltl•s The ¢harty's obJ"ects, as set OLrt in the Arbdes of ASoI)n. a." To relieve poverty, to advance education, and to relVe need in indivkluals arising from theii youth. a9e infimty di5atslty. financial hardship or scty2al urcumslanS'. and To develop the capacity and skims ofthe members of communth.es in PortsmutfTr, Hampshire and the surrounding areas that are socialty or socially and e¢orx)mta4y disadvantaged in such a way that they are better able to wJentFfy and help meet their needs and to parbcipate more fvlly in so¢ety. Thè nyaifi aCIN'e5 undertaken by the HIVE to carry oul ts chantatye purposes for put4ic benefft include.. Promoting partnefships. worknng and nthorking wrth others to make the best use of informati( and resources avalble for the benefft ofthe city. Providing specialist advice to people consh1ering starting up a sctial enlerprtse, those wlh ideas whKh COU tum into a soctal entwwse and those currenty running one. Supportrn9 small groups and organisations vAthin PortsmjEh by prowding mentoring. support th bid appltats"ons, training. adVe and lacihtab.ng events. Developing and maFntsiniNJ ordine digrtal offer Wh includes rts websrte, directory of serMS and a customer relatnship rrranagement databas Provhdi infomiab.on arxj advice to gUe people to the rightSUPPKKt atthe TrJht time. Providing space for many agencies to hosl dients and prov¥Je specialist advice and SUPFM)rt af(KJnd a myrwd of issues includin9 debt Lat is(Aation. nts1 health supw)rt, disabilits"e5. employmen( wbstancemisuse and domesb¢ vi(Trlen¢e. Promoting and increagng the Im1 ofVolunt.9 and sctia &bon within Portsmoutt). Identfying gaps or needs rn the P0rtsrFth area and sharing the inforrnats'on a rangè of partners. F¥litati"n9 earty intervenbon and r&Ywng demand on irajthonal servic£s. by SUPF<)rb"ng people at an earfystage when eded and 0ring alL8rnve Ch0e$ which help people to help themsthes and othets. The HI1 Portsmouth 15 in the unwjue posthon ofbeing ae to qUkty mobilise and disseminate charitsble ITnIeS to those In need across thè tty. A% part of our commuTrity respon5Ebilrty and govemance the Trustees have agreed a Grant Awarding PolKy whKh sets out how any ftjnds receNed by HIVE Portsmouth for onward grant makn"Trg a ovrarded. Grants 48rded support the relience ol the VCSE sector in pOrtsrrUth, address gaps In provL8ion and improve the health and wellbeing of our resident5. Thetrustees confirm that they have haj due regaid to guklance on PutAi¢ Benefft put4ished by the Charity Cormission in exerasng thr wwers and dutses.
A¢hiwemonts and perforn)ancg The Trustees agreed the new Stratèg direction of the HIVE Portsmouth wtlh refreshed goals after extenswe ctrproducb'on with strategK partners and the VCSE sector. Our year one objecb'ves were agr&d in August for the three maift Strateg areas and the enatling Strateg areas ol focus. A8 a eharlty rooted Inihe clty, wo brfngpaopio tog8th61 to bulld a happlèr, hEaithierBod more connected ¢Fty. Wèworkvthh p¢oO• I w•wot IhavfXElOv work In porrnershlp eurr•nt PM•¢ts.' ¢ipsesKSupponsLMitoimshae VDIuDleeFing CostC>fLnnTr4pwrf&Pw1b1P9 o18rtbkin¢iu$Th OAG ,' Currrrtfv44Brt". communtyNeniaiMe& eireColle¢tw¢ rtDAc&&AenicommwrfyreseaiC WarimhDn . Pport&e•)rth . FUndl¢&l0l bs ChtErHSepT0Jt 5trntryle IiiC&libes 81mm4trppKokth4e$sto Duta& Inxitlrt.. Communityrese8rch &HDRC. Sector In$ghl Impacr. DirectoryofseMce5. CRM Improvedccrfnmunic8tionfiow. Performance Repon3Hubs marketing FuDdkn¢&FknandalSustslMb#lty Ongoing8CFfundiTr8. Management and Gtant¢h44ges andfinancialsuststnaItys¥lE8Y Year 1 oble¢tfve$: Woworf¢ wlth people W• work in pwtnorship StF•t¢gl¢ Fo¢.. Communityl LocatityHub ";-:: development $tr•tro¢ Fo¢us Inte8r8ted Nei8hbourhood Teams CoEnrnunityFront door Gaiewayforlunding AllitnGedvi0prnen1 Improvedatha¢y ofVCSE Impact8ndVaiueofYCSE Oble¢tlve#: Develop strong reiatioriships and ffttwork$ wth the people we work wsth and seek to upport Produce a m8p acr055 the city i . of who is ersgaged and key people in tocal COTnrnunityes Contin4Je to develop th8 Portse8 and Fratton hubs ILlentity2 turtherareas where i. Iocably hubs ere wanted.. Pauls$rove, Hilsea or Lanoport Develop VoiurttÉèrin8Passpon . EstabshaStr#t¢4IC Health& Waiib&n8Aance MAtrinaa deepeDtkemeleI Trleaith&Chiidven &Youn8 People'sAUiance . TeY1 lurtherAitssn¢espor yOh #ne O¢abiiitywith SEGor Developthecollaborationln ChaucerHousedeveiaprnerrt- testftgthefflodelof HfvEa&4 otderolreJoUrce'd Estabtish HDRCtI) prwde comrnunityled research and secure future funtting i.e. beyond developmentyearl Engagewiih contributeto the developrnent ol PCC & NHS nei8hbourhotsd models Co-ordiTr8tE 8nd develop deliry of the Weiibeing 9eMce& test HIVE COrnN455ion8rroie
Underpinning strategies year 1 objectives Data & Insight. Develop the CAM anddata inWItC8pabililies Considerihe be5lOPtion lor¢he tse $18ge ollheCRM In¥estIgareantlte digiialsoiutionsihat 8irJ ortn8bl8VCSEAlli8nce ¢ OtdiTration and communscaton$ op toolkitto Measure irnp8Ctwd v8lueof thesecior Usedatacoltsctedtoproae I5t Communication Newwebsiteurnlated andfuncTioninB Ab8n p¢rtorm8n¢e rtportingto strategic rns, existingcommitrnentswt focvson in5Ighrand Imp8ci fxploie use tsf multFmedia opiions torHNE ioroulirielyuwjate&talk aboul the 4orkon iheseprioriis HUBm¥tkeiiogstrat Celebrate HW£'5aChMenI¥ moieoften Funding& Financial I Sustainability Agree onEtyng ICPIBCFlnfrnstructurefuTrdn8 Se¢uFe B(IdrÈional lundifi8forthe HiIBS TrIa1tneGre South RunfundLS1Thgrx)tenl[I E4)ioreCDrporaie4eL4tK)Ththipsvia vOoU$ torpoteniial sponsorshlps bmrfiFyndlngbids-G¥rtieldWesionandNetionalLottery Se¢ure ongolngwellnoe0IleetlvefUnd1nS Increase interest8 investmentof reseNes Our Perforniancè Report Structure a$ ako TevFvwed and is bw.ng ¢x)ntinually develowl to ensurè we are capturing the value and impact of the work that we do. We work with people Our Strategic focus is to co-produ Communty Hub5 Wrthin Ictalthes providing access to information, support and guidance. As part ol this arnbthon, a pop-up helpdesk was established In a Thursday In Paulsgrove running as part of the weekty communty run Bathroom Bank. Conversations with partners in Heavch and Soo'al Care are ongoing on how we can dèvejop this modèl wilh our communttiès across the city and wiimin our acute h05Pital to facilrtale earty intervention and rwluce the deTnand on heath and sccial care services. Voknnt¢¢ring Tcsether in HIVE Volunteer Bureau aim to promote and increase the irnpact of vojunteefing and s¢Kwl action within Portsrroulh. Supporting. en¢ouTrging and ryx)rdinating volunteering across the rAty Is one way we support thé development of capacrty and skills ol the members of o)mmunths in Portsmouth that are cIalY or soiaty and e0)nOmal disadvantsged iFTr such a way that they are better able lo identify and help meet theif nee(Is and to partiopate nKwe in souety. The year saw 1056 volunteèts placed In rotes across the city gNing a total 013196 hours including 107 supporting the D-Day 80 lebrats.0 events whKh were tevISed across theworfd and other high profile community even15 in Ihe ¢ity such as INe Shine and the Iftar celebrations at the Guildhall. 21 School Readers volunteered in three local sthoo15 9Ing 68 hours and 20 Be There for Carevolunteers, plEd bott) in care homes and in the communrty supporbng local residents. gave 367 hours. HIVE Portsmuth rouhnety brate$ the pwtive contribub.on that volunteers rnake to the VCSE 5eclgf and city. As part of this comrnitmeTrl. research into the volunteer expÈrien( was undertakén dufing thè year exploring the impact on the ¥cAuntr themselves in order to understand how volunteering impacts the wellbeing of volunteers as well as those they work with, to learn leswns abtsut how VCSE organisations can get the best possible outcomes for everyone InvOed. (Xr report. published in 0mIr2024. foun¢ that for nx)st vrAunteeE5. seeing the impact the r)rk they did and the difference It fflade for other5 had a significant irnp on their own sense of worth and wellbeing. Volunteers highlighted how this È¥Josted their enK>tnal wellbeing. irnpiov&Y their self•COnfiden and reduced
isolab"on. Peop in particular drew a connection beW these rSonal benefits and the optx)rtunilies vdunleering offers tts interact wth ¢Xhers and be part of a larger eornfnunty. Volunteers spoke of the social connections they gained and friendship5 established as a result of their volunteering as well as the optK)rtunty lo learn more atrtxrt themselves, offered an opwtunity to appty skils and knowledge and a sense of purpose for those who had reliied or reduc their working hours as weN a$ enabling the development of new skills and movement Into paid eTry)bymenL Two of our own vdunteers who SUPPOrt the Volunt8et BLFreau progressed onto paid ernOyrreDtaS a result olthe skilLs and expeiYdnc8 gain in their Vunteer roles wlh the HIVE PortsnY)uth. Our vdunteer team organised 2 fayies across Ihe year attended by mutrh"p organi$#tn$ across the sector and had 5 pop up events promol.ng volunteering in the city nter. Wè introducèd social èvents across the year lo re¢ognise the importance of our volunteers and cate a sense of connection with each other. Our Inspiring Vdunteer awards event in September received over 230 nofflinations and was attended by 200 people cefebrating the imp that the volUntrS have on our oty. Our Xmas appeals saw 376 gifts donated to Sophie's Legacy which disiribuled these to chihyren in hospilal, 272 gifts, 4,478 Xmas cards and 127 decorations donated lo care horre Sidents. and we hosted three days of chrta$ Wrapping stalls In a Ictal shoppiNJ centèT as a new hjndraising initkitive in the run up to Chnstrna& We continuéd to support the developrTEnl of the Disabthlities Advi Group in the ¢ty and thair Sla1 action to addre5S the issues around transkxrt emFAoyrrent and aCS to health servi. Cost of Lfvlng Support HIVE Portsmouth works to support residents who may be sInglIng financrally or fxing hardship thfough a range of initsatives Induding Ouf HeWesks, Unrftjrm Share Store. support for local food P8nlrre5 and our digrtal In¢lusDn pYoJecL OUT communrty Hdpjesk and online difethry of thifjtates eaty Intervenbon and aims to rduce dèmand on tradits'onal semces. by SUPFyJrJing peopbe at an eaty staye. ProvKJing informalioj) and advic£ to guide peopk to the ftght support at the nght b'me and offering altematNe choices which help people to help themsefves and others. In totsl, we supported 13,131 erquIS through the heleSk wh¢h equates to an average ot $2 enquir$ every day. The informatTh capred through the Helpdesk supports our aim to entsty gaps or needs in the Portsnlljth aw. We conb.nue to maintain the online directory of servKe5 fur the cty whh 15 uts"lized by both reshlents and Pfofessiiwals across the cty. a in the process of ¥[thn9 the funcrtionalty of thè dirèctory and CRM in ordaf to (lovelpop that in h'ne wrth our stratsgi¢ ambitions. The Helpdesk also operates the Unifomi sho Store whKh is way we seek to relieve poverty, to advan education. and to relve need in indNtduals arising from their youth. age infirmity or disabilrty, finanoal hardship or arcUMstan. Free unrform Is available to any chikj In the city and in this year, 1126 families berEfftted trom this Servi a150 encourages jstnab1e practre and -tycling of our resources. Part ol our cost of fving focused work ks to SUPF¥Xt ConUnity groups to set up pantries or L7rders in their areas to provide access to affordable food. reduce fo(xl insecurity across the cty and &ldress the wider determinants of heath inequalth"es. HIE POrts1h provide mentoring. supptytwith funding bid applicalKJns, training and advKe to these 10 groups and ale sb"Il working to establish 2 morÈ across the city in areas of need. FO( banks and pantries in the city are seeing leve15 of need signifi¢anUy In¢re8se. wth many spending significant porbons of their own ffinanctal resour on the shoffjall from in¢onE fundirrfj. In response lo this, HWE PortsrrKJuth is exrAoring an overarching strategy lo guide the necessary acbons across tha cty to add5 fcK)d InSrity expertenced by our residents working n partnership wrth UK Harvest, a welkeslablished focxy rescue and educabon chanty. This process w¢Jl
continue during 25126 and wll bring together organisations. residents and local communities to understand the issues and imF4ement a plan for Ihe longer4erni aim of having sustainable fcM)d security in the Cty. fccusing anallY on serv supptsrts.ng restdents in financkil hardship with fc. Digital Incluslon The ability to get online. access vital services and keep Sla1 ¢onne¢b"ons Is at the heart of our Digitsl Inclusion prctyect This year 93 people In were supported wth digtsl skills and 4 droFwn se55ions were run in Conjur0 with GP surgerES arKI Libraries In order to sUprt residents to access the NHS app to proaclivety manage their heatth and wellbeing. Our partnershipwth the Society of St. James to tackle data poverty within our homeless and rough $epIng reshdents resulted in 36 data sims 'ng distributèd. Thi5 inr(iative provides an Invaluab Safety net for h)meless. Vulnerab Indivua1S in temis ol contact with heatth, social care and housing serveS and also provides a means for individuals lo slay in contact wth frEnd and famity whih reducè$ 150jats.cm and supports good mental heatth. AcTrss to digital devies In the communty was also expanded by provKling IPads to both Community Kettle arsd Fratt¢n Together. We work with the VCSE Sector Our strategic fixus is to Co-develop a nelwork of VCSE lIar focused on the issues of importance to the VCSE. Promoting patherships. workiThJ and netsvorking with others to make the best use of information and resources available for the benefit of the ¢4ty is key in this work. During this year, we Conducted exten&ve consuttab.on and Cwrc4JuCn wilh ttie VCSE sethr whith established a strong desire lo estsblish a neiwork of alliances with four functions". Ènio¥rn8 .OEmyn*ial Paittherships Te8taEgdael During the year we e5tat4ished and agie8d to fw"IFtate the firsl of these Alliances - the Communty Vlellbeing Ajliance with a defined mission. We aim lo bu1 the collectNe Stngth arpd voice of the VCSE. thrive togelheras allS and work tcoelher lo benefit the coffjrnunth.es we serve in Portsmouth. The Communty Wellbeing Alliance has agreed the year 1 workan which will facilitate in the coming year. A key locus in this workplan is to bu1 the Caplty and skills in the VCSE sectoi to demonstrate the value of the work and in partnership wilh C¢>Lab. part of the Hampshire and low Healthcare NHS Truste's Academy of Research, a free training pr(8ramme was ddfvered to en38 organisations to have the tods and knowledge to measure impa
VCSE S•etor Support One ol our core aa9 of aclwity is to supwjrt small groups aThJ organiSan$ within Portsmouth by provKling mentoring, support with bid appr.05. training, advu and facihlkn'ng events and to Provide specialist advice to peop consK1ering ststh.ng up a la1 enterpnse, those Ideaswhich could tum into a sctial enlefprise and those ujrrenty running one. Ourteam work to ensure thatwe have a strong, dNer8e and vibrant group of organisations adY lo rrEetthe need5 of Indivuals arKI the CnrnUnrty. conbnued tr) host our nets¥(kIng meetings and workshops lo promoting partnerships and to make the best use ofinformaiiw and resources avaiFatle lorthe bènefit olthÈ(ity and 5UPPOrtÈd En3bab1ljfy to f&ilitate a new ovèr 25's sorial group enabbng people with SEND tr) ha¥e fun and aL evaluate the accessibility of varK)us iocab.ons In the city. also focus on Kjentifying gaps or needs in the Portsmouth area and sharing the information wth a range of partners. We published the S¢¢tor Ingght and Impact RerKrt outlining the key challenges cun faung VCSE organisatons.. decrea&ng incon. increagng demand lor sw¥&5, rising oFeralional costs and ¢yJts to funding. As a resuli of this. we have seen an incTease in the requests for support funding bKJs. in recrurting Trustees and wrth adv around govemaftcè and wlicy. In order lo providing space for organpsations to host dients and provide their aT(wniJ a myriad ol issues we opened a second c04vorking hub In north ofthe ety which provided additional meeting spaces to work wth ¢lnts #nd to netyrk. The Hub in the SOLrth ofthè • conb.nued tts offer a vibrant Cow working space which tsr$ VCSE organisatscfis a place to worf¢, connect and learn. Portsmouth Cornmunlty Lottery HIVE Portsmouth conbnued to host the Portsnx)ulh Lottery whth supports 209 loca goott causes and distributed £27,755.50 01 lunding to 34 drfferent organ.onS tr) suprx)rt the iesilence ol the VCSE sector in Portsmouth. address gaps in provision Improve the health and wellbeing of our resklents. This year successful grants were madè to". HeaaY £1.0(Y).00 Personal Ch0e £994.(M) Sixth Portsmouth Guides £940.C() Seekers Create £1.000.00 8uttenliÈs Bère8¥èmenl £1,000.00 Citizens Advi Bureau £150. The You TrusUAdvice PortsnY)uth £890.1)O Portsea Men's Shed £i.O¢XJ.00 Portsmouth Community Food Support £1,000.C(J Red Squirrel £1.000.00 B8ekè8ping for Hope £850.00 Shar8 Portsmuth £919.50 Portsmouth Pride Trust 5. Friends Wthout Borders £595.fy)
Word of Mouth Workj CIC £800 00 Home Start Portsmouth £six). Connots Toy Litary £1.OlJO.00 The Lark Network £8CQ.00 Spark Community Sp Portsmouth IAt)rren Aliance £800.00 Portsmouth Cath*lr81 Chapter £800.00 Ajjilib'es for Lrf8 £855. Portsmouth Parent Voice £1.000.LX) St Luke Memory Café £5.00 Kurdish Home Portsmouth £1,000.00 Freedom FhterS CIC £1,000.00 Communty kèttle £977. Portsrr4Juth Gyrtae Cancer SupkK)n Group £1,000.00 Shaping Portsrnovth £800. United Learning Pautsgrove £330.CNJ Endometriosis Souih Coast £sfrJ.00 Parerstin9 N•twork £500.¢XI Polrtety Rebelious £500.00 We work in partnership Our strateg¢ fu5 15 tts work Ivward5 and cwroduce wq'ects around an agreed sel ofuty heatth and wdlbeing priorities. The Wellbeing Cotlective projÉ¢t has a focu5 on facilitsling earfy inleNention and reducing demand on traditional services, by suptDrb"ng ppIe within the community lo enabled ser¥te users to be INe well at horne and avoid adMiss)n to h05pitsI. worked in partnership with Brth"sh Red Cross, AgeUK Portsmouth and Good Gym to suprM)rt 946 people recetving 471 new referrals In the year. The C(Alects"ve has developed gateway wss into VCSE and a ¢ommunty neh¥ork, integrated wth key admission avoidance teams and created a singl• point of for healtkare prnvK6eTs. The rnain frtus for our Communty Mental Health Transformati wqe(IvrJs to o>producean effecb.ve approach lo ryEasure the impact of the Portsmouth Mental Health Hub which was developed in phase one of the project witr the eXFerlee nefvlork This 11 continue in the cryning year. In addition, we supported". the inlr(Kluction and ImF48M8ntan of the cwrodu¢b"on nxyjet in in-patient adult mentsl hearth services in the ¢ty. Family weath in the devebpment of an online tool to supkx)rt young people around emob.onal
èating". and facitFtated two'Food. Feelings and Facts" questk)n an¢ answer events in the aty bringing tO9ether professionals. pats. TerS and young peop which receNed excelnt feedk from all partipants. Akjngside PortsnJ)Lrth City Counol and the Universty of Portsmouth. HIVE Portsmouth is a cwartner in thè Hearth nelerminants Research Cc4Iabowe IHDRCI. HORCS were created by NIHR lo boDsI research capacity and capabifity %Mthin I21 go¥ernment_ They aim to furthef embed a culture ofalways sing evidence when making decisions, buikjing fesearch awareness and skills in our teèms and wrth communty partners. and u51ng research findings to understand how decisions impact on heath 8nd health outcomes. During 2024, the proi8Ct Yd5 a de¥ebpment phase and key hieveMents were.. ProgramrrE Board and Steering Group workshops es1al'Shed'. HDRC prinaples eVeloped wth Steering Group., Iryrtite Collaborats'on reement belween PCC, UOP and HIVE su., disa)very research projects undertaken around earty language leaming environments & heal events in school5', links with the HDRC netsyork and regnal researth landscape estsblished. Manchester Metropjlitan UnNersty Sus[U1ty comrThSsionj 8s evalu8b.on partners. The &month pr)reSS feportwas submitted in August 224 and in November w• were awarded the full ffve years of lunding beginning in January 2025. We aim to SUPFth research that addresses complexity, 15 collaborative, and is grounded In the experience of our residents, parttcularty in crynmunilies that experience health IAual. FincIlI r•viva7 In pu operation terms, the was an en(kof-year def of £240.323 beaving our fvnd tdance at £1.421,781 consisting of £881.070 rtstrKtted reseryes (note 211 and £540.711 unrest reserve5. The Boaril of Trustees updated ts Reselves in 23r24. tskn.ng into a¢¢ount fvture financral sUstainalIty and revised goals and objethves aThJ set the safe Jevel of reservès a$ £160.285 baséd on 3 nh)nths Operation expenditure in 202212023. Al 31 March 2025, HIVE Portsmuth hekl UnreStrted lfreel reserves totalling £540,711 at the year end, however, they have designated £379.497 of unrestricted fvnds for specific activty over the next few years which will provide a planned nvestrnent in actrvth'es cUenty funded through granlwresthcted fijnds, including sc¢me staff r(Aes. in order to conts.nue beyond the grant date whilst alternative, ongoing sources of fvnding ar& pursued. The rev of unrestricted and undesignaled fvnds al the end ofthe year is £161.214. which 51ighUy eXe$ the $8fe e1 of reserves. HIVE Portsmouth would fike to thank all grant awarding bodies and organisations who donated or awarded to HWE Portsfrouth during the finaniyal yew. Futlhei detaiLs of these Gan be found in the notes lo the accounts.
The ongoing support of the ICB arKI PortsrrK)uth Cty Council. who support the HWE Portsmouth with a significant gift in kind of staff and prem cosis, is thanklulty ackn0wJed, along with sincere appreciats.on to BAE Systewts Ltd who awarded a major grant to HIVE Pcrtsmouth for the purposes of securing a¢c¢mmdakn"on to beneft the broader VCSE the first ofwhith opened in June 2023. The Trustses has assesse(l the major risks to whth the charity is exp05&Y and are sab"sfied that systems are in place to mitvJate exKY)suie to the major risks. Risk Managernent The Trustees examine the major strategt. business and operabonal nsks fad by Ihe HIVE Portsmouth and maintains a Tisk TegLster whith viewe(l wularty by the Risk & Control Commrttee and Trustee Board. ere appcopnate. systeft orprocedU$ have been eSt21shed to mib.gate the risks faced ard budgetary and Intemal risks have btren minimised by the implemenlaln of finanal prccedures which include authoriSatn Iiryuts. poleS and prctedures are aLso in place lo ensure pliance with health and safety. equalty. dNersty and other gIat)n ar thes& 8te F>eriOdallY rèviewed to Confirm they conb'nue to ffit the needs ofthe HIVE Portsmouth 8re up lo date any changes to legisLAtn. Structufe. governanee and managemenL The chaiity Js a company limite<l by guarantee. sel up on 24 June 2019 and was regLStered a5 eharty on 15 April 2020 under the Memorandum and ArtKles of Asswats"on. The company is managed by the diTedoTS. who are dso the trustees and who are eknted and c(pIed under the terms of The eOrandLm and Artides OfASslatp0n. The Irustees. who s 0 the directors the purpose of company L•¥, and who seTved during tha year and up lo Ipdale of svJnature of the financk715tstements wwe.. Emma Johnson Rory Massey Sandra Bramfey Matk StxrborowJh Rort NI18 Youern Cathenne Longhur5t Eleanor Snooke$ lan Morris I4gned June 241 (Testgngj Novemter 20241 lapptynted June 24} (appointed April 25) The Boar(f periodicalty undertakes a Skil to ensu it has the right balaTr of3ki115. knowledge and experience. Trustee vacanc5 are adverbsed in k)cal businesses. volunteer centres, community ntr6s, libwK8s and similar ouuets. ThLtse expressing an interest a met by the Chw'r of the Board, gwen an overvw ofthe organisaty"on. a copy ol the trustee iole de$ration. and erQuraged to apply. using the application fom. AppIatnS r1Ved are exIned against the most wnl skills audrt and invited to submit their references and attend an interview. The Chair and another trustee conduct the interviews, and make recommendations to the Boa. who revtew the rwmmendab.ons and decmle whether to raltfy or reject. All new trustees are provided with an induthon wrth the Chiefofker and given a path including copies of the Artth of AssOaOn and Code ol Conduct Tnjstees are aLso encouraged to aecess
online training via the Gètt]"ny on Board site. Qualifying third party Indemnity provi84011S The Arbdes of AssoaJ"on wuire one Ihird ofthe twst8•S to ch yèar. Ihosè long•St in offi ieb.ring frrst. Rel'riTrJ tnjstees are digib ft)r rwppointTrRnL The Board considers any applications for re4pp0in1ts to ensure regular rèfreshing of the Board and the necessary balance ol skills. cornmitmenl and experknce. Beneflclal Int•rst None ol the trustees has any tMefi¢ial Inte$t in the company. All of the trustees are members of the company and guarantee to contribLrte £1 In the event of a winding up. The Board ofTtustee5 has overall control ofthe charity and sets rts SiTategsc di"0. The Board has a Chair, a Ve Chair, a Treasurer and a Company Se¢tary. Board ffEetings a held at least 4 t1£S a year but more often rf required. An annual Schedu of busin L% used to set the agendas for the Board meeb.ngs and a fegister ol interests is maintained. Conflicts ofinlerest fomi part ofkne agenda at every Board meeting. Memters ofthe sersiorleadership team are in attendance at Board meetings but do not have voting nghts. In addthon to the Board meth'ngs, the trustees meet nalty to review the strale9i¢ di¢b"On and vision of the HIVE and the 15 an Annual General Meeting. Loma Reey, chf0f1er. has been appointed by the trustees to manage the day-ltrday operali¢)fts ol the HIVE Portsmuth. The Boafd has approved a Sthèn of Dtgath?n whh sets out the dectsions resented for the Board to make and those deated to th• Chief Officer. The Chief Officer has delegated authority for operatn31 mattw5. Statement of trust••'$ rnsponsibilities The Irusle&s, who are aso the directors ofThe HtVE Portsnvjuth ftsrthe purpose ol company law, are responsible for prepanng the Trustee's Rep)rt and the financial statentS in accordan wrth applb law and Unrted Kingdom Accounts'ng Slandas (United "ngdoM Generally Accepted Accounting Practice). Company Law requi$ the trustees to prepare fiaral st*ements for each financial yearWhh give a true and fair view ol the state of affairs of the charity and ot the Incoming resources and apF4icabon of reSoUs. Including the Inrne and expenditure. of the charitablè company for that year. In preparing Ihese finanryal 5tat8ments. the trustees are requi to." select suitable acc¥)unting po.cleS and then apFty them consistently., serve the methods and princip in the CharitEs SORP." make judgements and ests"mates that art re350natle and prudent. state whether #pplrable UK Accounting SEandords have been folk)wed, subj'ect to any 10
rnaterial departUS discbwd a1 explained in the financial statewnts,' and prepare the financial statemertts on the goin9 concem basis unless it is inappropriate to psurne that the charty wll conh.nue in OFatron. The trustees ao responsible for keepin9 adequatè accounting ieeords that disckJ5È with reasonablè curacy at any time fv financial F¥)sition of the charity arKI enable them to ensure th the financial statements compty with the Companies Act 20C6. They are akn resp$10* lor safeguarding the assets of the charty and he for takn.llg reasMat4e steps for the preVentn and detection of fraLKI and other irregukAnb"e& The trustee's report was approved by the Board of TrustÈÈs. Rev Robert White Trustee
THE HIVE PORTSMOUTH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HIVE PORTSMOUTH I feport to the tsuslees on my exarninots" of the financaal StatwTrts of The HfvE Ptytsmouth Ith• charftyl for the yttar ended 31 March 2025. Responslbllllle8 and bas18 of port As thè truste85 of the Chaty land a150 its directrys ts the pwposes of crmnpany lawl you are spons[ble for the prep8r8tion the fin8noal s18tements In accordance ¥th the wurements of the Cornpani85 Act 2006 (the 20 H8vir#J Satisf mysetf that the finanad siaternents of Ihe charty 3re r¥Jt reouired to be audited Lnder Part 16 01 the 20 Act and are digi• lor Indèpendènt èxarn1nabon. I reFJt in rèspect of my examinatson of the charitys finanoal staternents carrd c¥Jt wder section f45 of the Cbe5 Act 2011 (the 2011 Act). In cairng out my examinats.on I have fdlowgj Ihe 8pplrable Dir8cbons given by th8 Chaty Cornmission untjer $8ction 145lSllbl of the 2011 Ac. Ind+nd0nt •xamln•rfs stattm•nt Since the ¢harty'6 gross ir¢cMne excee(leJ £250,000 yow examiner must be a mernber of a body listed In section 145 of the 2011 ACL I c(mfirm that l arn qualif%d to unthrtake Ihe examinat%m because l am a rnember of The Institute ofCheredActwntsnts in ETrJJKI Wdle5, wlith 15 onts ofthe ed bcKles. I have ccrn&ted my examin"cn. I confiirn that no matters have to my attention in comecb'on vMth the examinati glg me GqU58 to beIVe that in any Mat81 resm. accoJnts"ng records were Th)t kepi in resFt ofth8 Charity as feqLurtd by sectithi 386 of the 20C6kt'. or the fina statements do not ad vfith tISe XdS". or the finarrial statements do not COrnFty WTth accounbng r4Lur8nwrtS Lrf sectth 396 of the 2006 Act other than any requirernent that the aOUnts gNe a Iwe an¢J fair vw is not a matter cortsidered as part ofan independent examinabon", c th? finanual statements have rrfjl teen wepared in ar£udarre with the methLKls and pritKiples of the statom&nt of Recomrnended Pwtice for acwnbr¥J and repcKbng by tharifres applicable to tharitio5 4Keparing their accounts in accordance V•h the Finanual Reporb"ng &andard 3pplieab in the UK and R¢putl¢of Irdand IFRS 1(Y21. I have no Conceffffj and have come acros5 TK) other matter5 in c(wOn wth the examination to which attention shoukj be dra th15 rep(Kt order to al9 a propw Und8r51roj oflhe finanoal Statements to be reach. David Knight FCA CTA Carpenter Boy Piper Htsusè 4 Dukes Court Bognor Road Clichester st Sus8eX P019 8FX Ded'. 12-
THE HIVE PORTSMOUTH STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unr•strictod R•Btri¢t•d funds funds 2025 Totsl UnYestrict•d Rostricted funds fuwtds 2024 2024 Total 202S 2024 Incorne from: Donaons and legaaes Charitsble activrties Other trading 8cliv.e8 Invesknents 373.992 19.483 18.341 17.856 328.875 702,867 19.483 18.341 17,856 371.3C 5.520 15.266 353.200 724 SC 5.520 15266 Total Irbcom• 429.6rk 328,875 758,547 392.098 3S3.2110 745.298 Expgrbjlture on: Raising funds Charltable activitses 703 452.787 703 998.167 545.380 510.727 335.653 846.380 Total èxpenditure 453.490 545,380 998.870 51CI.727 335.653 646.380 Net expendltu 123.8181 1216:505} (240.323) {118.8291 17,547 1101,0821 Translers behten funds 14 I,200) 26,2CiI 18,997 118.9971 Net movement In fu8 {50,0181 {19).305) 1240,323) (99.6321 11,4501 1101,0821 Roconclllatlon of fund5: Fund ban$ at 1 ri12024 As origin81ty reported Prior year adju&ment As stated 590, 729 1,071.375 1,662, 104 690,361 1.IYk2.W25 1. 713,186 50.000 50.000 1,072,825 1.763.186 Is 590,729 1.071,375 1,662.104 890,381 Fund balances at 31 March 2025 540.711 881.070 1.421.781 590.729 1.071,375 1,662,104 The staement of financlal a¢tivibes inckJ¢Jes 4198ins and losses rec1 in Ihe year. All ncorn8 and expendibjre detive trorn continury actiV"e$. 13-
THE HIVE PORTSMOUTH BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Mot•s Fixèd a#s¢ts Intangible assets Tangle assets 16 17 7.872 35.318 28.996 43.188 28.996 ass•ts DebtCY5 Cash at bank and tn 18 17.086 1.404.342 164,520 1.501,612 1.421.428 1,666,132 Cr•ditors: amounts falling due within ons year 19 42,835 33.024 Nd current assets 1.378,593 1.833,108 Total asséts 18ss ¢urr8nt Ilabllltles 1.421.781 1.e62,104 The funds of the chaiity Re5trided incorne knnds unrestrict funds 21 881,070 540.711 1,071.375 590.729 1.421.781 1,662.104 The company ts •nb"Yed to the exempbw frryn the auilt rUlTl1 contaned in SectY 477 of lh8 CompaniesAct 20M. for the year ended 31 March 2025. The directcrf¥ xkTryknYge their tlitieS for ccmplyifig thè rwuIrenls of th8 Compani85 Act 2006 th res to aco)unts"ng recorfjs the 1xep3ratic offfinancid terneDts. The memlJers have not the CnY to obtsin an Irt of its ffinantsa ements fvr the year ID question in accordance secbon 476. These finanal statements have been prepared in attc¥dar£e with applK2ble to cornpar*es subpct to the small companies regime. The finanual stat8fflents were apwovEd by ts tru5¢ees on.... ... Robert rte Trt#0 Company iegistrathM Thjrnber 12064936 IEngland and s) 14-
THE HIVE PORTSMOUTH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Cash Ilovts from operating actfvlues Cash absorbed by opeiati 185.3911 1234,1691 Investlng actIvleS Purchase of inlangble assets Purchase of tangl? fixed assets Inveslment InCe receNed {9.8401 119.8951 17.856 11.0861 N•1 Gash Irh InVlIng actl¥ltles 111.8791 11,0801 N¢t ¢osh us•d In fiAan¢i09 a¢11109 Net decr&tse in cash and cash equivalents 197.2701 1235,2491 Cash and cash equNalents at be9innirg of year 1.501.612 1.736.861 Cajh and ¢a8h equfvalents at end of year 1.404.342 1.501.612 15-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AcCoUnng polb¢lgS Charity informatFon The HIVE Portsmouth is a prive company limrted by guaranteè incorwratsd in Enand and Wales. The rggtstered offe 15 Low Ground Fkn¥. Central brary, GUdlI Squar8. Hampsl¥'rÈ, PcMyl, PQ12DX. 1.1 Accounung Converrtlon The finanaa statefnents have teen epared in OrdanCe Tth the cf•% MeModum axl Arts"des, the Cornp8nies Act 20( aThJ -Accounting and RepN)rtiTvJ by Charit". St8twnent of RecDmrnended Practice applicat4e to {are9 prepanNJ Iheir accounts in accordance the Financial Reporbng Standaid apicae in the UK and ReputrAic of Irel3nd IFRS 1021 (effective 1 Jawary 20191" The charity is a Public Benefrt Entrty as defined by FRS 102. The finantsal ststerrwts are ppare(l in sterfng. wlich 1$ the furtli1 Cle of the chwity. Monetary amounts in these fin8nrial stslennts are roured to the rarest £. The finarod slalements have teen prepared the historicaf cost convenb"on. Thè prinapat accounting [lUeS adopted are set out be. 1.2 GolrvJ conc•m At the brne of approv9 the finawal 5tatement5, th8 trustee5 ha¥• a reasonabte exp8Lation that the ch ha5 adequate resoUS to continue in qjerational estenCe for the frKeseeatrAe fuknre. Thus the tiustees continue to the going LY)rKem bas ofacrJ>Jnting in finawal slatements. Based on these a53es3ments haviThJ regwd k) Ihe restyjrces available to the enty, the trustees have conduded that the Is no material uncothnty and th tw can £ontinue io athjpt the goiffj conc8m bags In preparirq annud report 8nd finantsal &atement& 1.3 chatab lunds Unrestricted funds ate diFaLle for LW at ts disixebon of the Irustees in ftjthewce ol their charit3bl8 jectives. Cesignated knnds comprk%e lunds have tren sel ayde at th'sc¥eti¢>n Of the trustees for specffic purp)ses. Th• puposes u5e5 ofthe desgnated funds are set wl in the te$ io the finanual statements. Restricted funds ar8 subpd to conthti$ ty drmrs or grant$ as to how they may be used. Th8 piryoses 8nd uses ofth8 r8Stricted ftjnds are set out in the notes to the ststwnents. 1.4 Inc¢)m• Income is rgcognised wfn the charity is legally to rt aftar any pèrfom)ancè condti"ons have b88n meL the amounts can be rneasured llabty. and it is pffjbable Ihat 4n¢ome 711 te re¢Ned. Cath donatiork3 are recognised on receipt. Other O)nalTons are retty)d once the chalty has been notified of the doTratw. udess pwfortrance condrtions require deferral of the amourt Inccrne tax recOverae in rtiw to da"1$ under GrftAi(J or de8ds of covenant reu)gni8ed 8t th8 tirn8 ofthè donth"on. Legwe$ S recognised on receipt or othe7$• rf lh8 charity ha5 notFfied of an Impending distribution, the amount Is known. and rtt&pt is èxp¥te<l. It amcrtjnt is rh kn. the Je9aty is treated as a contingent awt Goods, faa"lrties and SceS in knnd are induded at their estirnaled w market valuation. 16-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting lICleS Icontinuedl 1.5 Exppndlturg AJI expenditure is dealt 1th on an al$ bags. and allctated to the appropriate hea¢"rKJ in the finarKial statements. Ggvernare costs are those assct4ated ¢Msbtutk?n an¢ Stattrt wijirements. 1.$ Itrtanglble ffixed assets other than goo1111 IntangNble assets acquired Separately from a tJr are recogn¢s&J at cost are SUt6a]wY measured 8t Cost less arnated amcKtysakn an¢J ac(JJmuL3ted impairment Ios5e5. Intsryibte assets acquired on business trA)mbinati5 are reoyis&Y separalety from goodwll at Y)e qtsi9ibon ¢Yate wh8V• rt 15 probable that the expect futu econom benefits that are attritrthble io the asset will tlow to the entity and the fair value of the asset can be measLwed rela." Ihe Intangible asset arises fr eontraLuo1 QT othwlegal n.. atxl the irtangibts assat is s•paratlè from the enbty. Amort¢sats"on is recegnised sty as to vfflte off ts cost or vthjats.c of assets less their residual values over their useful Iiv8S On the folknwry b8s85_ Dig11l system. w8bsrt8 irKILbny cus1or 5 year straWlin8 relationship m8nageY 1.7 TaTrglble flxgd a$8•ts Tangble fixed assets are inibaw measured cost gJbseqLrty measured at cost or valuatron, net of dèpr8ctath.on arld any Impairment k)sses. 0epreciab.on is ognIsed so as to lt9 off the cost LY vabjabcm ofassets kss trir re%dual values over thèir ft51 Iwes on the followirvj bases.. Leasehold improvemtS ComwtW5 10 year straight fire 3 year sIrgtrrt line The gain loss ariwn9 on the disposa ol an asset ks deted a5 the drffererKe betvften ite sale proceeds and tha carrying Ve of the assel. and is rew9nd in the *èm& tsffinants adi¥th"eg. 1.8 Impalmilnt of fixod assets At e repoilng end date, the tharity rev$ the caffyiNJ amounts of its tangible and intangie a58et5 to detwminè Ythèther there is any indicatron that those assets have gjffeied an imwmient kjss. 11 such indit2tittn eSts. the recoverat4e am01 of thè asset is estimated In order to dètemina the •xt•nt of the impannent loss lil any). 1.9 Cash and ca$h equfvalents Cash and cash equivaents indude cagh in hwd. depCts hdd at call wlh banks, other shcrt-temi liryjid Inve5tment5 Wth onginal malurities three mc¥)tlk8 N kn. and bank overdrafts. 8ank overdrafts a shclv vthhin borrcmings in crrent liabilities. 17-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Acc¢)unting polici•s Icontlnuedl 1.10 Financial instrum8nts The chanty has ted to appfyf the proviwn5 of seth" 11 'B8sic Finanoa Inslrth)ents' and Section 12 'Other Financial In5trurnents Issu8s' ol FRS 102 to all of its finamd In51rurr18nts. Financi instrum¢nts are recognised in the bnce sheet wln the ¢harity bgwnes paty to Ihe CDntr8¢tual pwwon3 ofthe instnJMt. Finarrial assets an¢J liabile$ are oltset, vrith the net ame4Jnts preSj in the financial ststements, when Ihere is a legalty fOr¢eae Trght 10 Set off Ihe recogni5ed arTK)unts and Ihete 15 i)tention to settk a net si$ or to redise asset and setu8 th8 liabilrty rnurus. Basie linèneialassets Basic financial a$sels. whKh indudè d8btCrf5 cash and bank balanc85. ar8 irytBlly measured al transaction price induding transath.an ctsst5 and are sub5eqJerty catrled at amitised cost using the effective inteTest mdhcmj unFe5S the arrangement rmsbtuie5 a finanung transaction, wheTÈ tha transaction is easured at tho present value of the future rry)ts disc4)unbJ at a mwket rate of inter86L Firtanci81 assets dasgfied as r¥Avable wthin one year ère not amortised. Bask Ilnanelal Ilabllltl•s Basic financjal liabilities. induding credrtors a)d tonk hjans are In"al rwnised at transaction price unless the arrangement constitutes a finanung transadson. vhre the debt instrument is measured at the Present value of the future paymènts diuunt8d at a rn8rket rate of trrtere8L Finanoal Irdbility&S classified as payable thin one year srè not amOTbsed. Debt inthjments are 8ubseqUuY carried at amcxttsed ci6t, usry ellectNe intet rate method. Trade creditors a otligats.ons to pay for go&Y5 t se[V5 that have been xwired In the orclinary course of operations from suppliers. AJnourrts p8yaL4e are da5yfi8d as curTent liabilities rf paymwt Is due vAthin ong year or less. 11 rnt. thoy ar8 prgs¢nted as n(wrrent liabih"ties. Trade creditors are recognise(l inrtialy at transacticfj price and subsequenty measured at amorbsed cost Using the effeGbve interest rnethod. Dèrecognltlon of Ilnanclal liabillUe5 FinaTla1 Iiabli it$ are ¢recc%Jnised Wh ts thJrtl5 lY8.0ns or are dischwged 1.11 Empknyee benoffts The $t$ ol attort-tem) employee beneffts are reujgnised 8 #bilty and an expense. The cost of any unused hdiday enbtlemert is reCognij in the per in the empbyee5 are eNed. T¢mination beneffts are recrgnised inmedialety as an exFen5e is dernonstrably ¢cmmstted lo teiminale Ihe ern¥oyThent of an employee orto prowde terminats.ori benefils. 1.12 Rel1ment benefits Payrnents lo dèfined 0)ntribOn b&)efft schemes charged as an expense as they fal (Je. 18-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltkal arxountln9 egtlrnates and ludg•monis In the ap1¢allon of th& charrts xojunts.ng pc4. ts tnes are required to make judg8rn•nts, estimates aThJ assumpkn.ons aboul the Ixrrying arnwnt of assets and liabile$ that are not readily apparent from other Ttss. Tho estimates and a5SCtiatecl aSsumpb"(S are based on histo experien ancl other factots that are c0Thdered to tr relevant Actual regJlts may tlrferlrom th&s8 6"mates. eslimates and undertying a5surnpb"on5 are rewewed C an ongThng bay5. Rewsions to accounting estimates ar6 rscogn158d in the Feriod in whith the esb'mate is [ed ¥there the ievi5ion aff8¢ts only that penod. or in th wod of the rewsion and fvrture rrS there the revisi affeds both current and future Feriods. In¢omo from donations and kyacios Unr•5trict8d Restricted funds lun 202S 2025 Totsl nds 2024 funds 2024 202S 2024 DOnatiOr aThJ gffts Grants rl¥able Donated goods and se$ 10,307 133,354 471 328,404 10,778 461,758 11,208 139,368 11,208 492,588 353.200 230,331 230.331 220.730 220,730 373,992 328,875 702,867 371.3C 353,200 724.506 Dona¢lon$ and glfts Sweet PTojects Lord May( 9.SCtI 9,500 290 1,418 10.307 471 10.778 1.418 10,307 471 10.TT8 11,208 11.208 Grants recelvable for core actmtles Portsmoulh City CoLtnc4J NHS Portsmouth CCG PCC WdlW'ThJ cyp Vivid PCC. Other VCSE Sotent NHS Trusl PCC- HDRC 100,000 25.000 46,000 100.000 25,000 46,ODO 248,OC 40.OC4) 6.29J 248,c¥)O 40.C¥)O 6,250 23.500 23.500 30.000 50.000 4.200 98.000 30.000 50,000 4,200 98.000 109.418 29,950 28.650 28.650 InfrastNcture grant Other 109.854 109.854 109.418 29,950 133.354 328 404 461.758 139.368 353,200 492.668 19-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 l•lARCH 2025 Incrthe from don•tlon$ and kga¢i•s Icontlnuedl t)onzted goods and serrflces Duriry the year warious stall rrFernbers were Secled fr¢)m fvir emFloyers to cary OLrt work on behalf of the chanty, arEd use of premises wa$ al Provided. In accordance wth the chanty's accounting piCY the trustee5 85timate the value ofthese ser¥res to be £230,331 I224- £220,730). Income from charIts1 actlvltoes Unrestslcted Unrestrlcted fvnd8 funds 2026 2024 Charitable actlvltles Sale of gfJ)d$ and hub incorne 19.483 5,520 Ineom8 frorn othertradlng a¢tlvltles Unrestiicted Unrestricted fvnd5 funds 2025 2024 Fundraising ert$ SponsorshiFE and ScC &JtterN8S 4.7 13,551 15,266 Olher trad ¢theS 18.341 15.266 Income from investments Unrestrlcted Unrestrkted funds fvnds 2026 2024 Irrt8r85t r8c•ivat48 17,856 -20-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 expendtlyrn on rnlsln9 funds UnrnstrKted Unrestricted funds funds 2025 2024 Fundraising ond publicity Other fuThJraisiNJ costs 703 EXpditUr• on charltablg %ll¥tv 2025 2024 Dlrect costs Slaff costs Deprteiatstsn and arnoElis3tion Operath resources unteer & Rafjian PCOS P4Jilding works IN(xth and ScMJth Hub) Pantry costs Food Strategy CsuancY 484.323 7.226 71.411 109 451,334 17.777 66.095 224 6,703 7,726 9,127 11,386 584,118 543,859 Gratrtknnding of adivibes15ee 91 237,052 124.580 Shar• of iupptsrt and goveman¢e costs Isee note 10) Support Govema 156,856 20,141 158.403 19,538 998,167 846.380 Anatysis by lund restricted I$ Restricted ftjnds 452,787 545.380 510,727 335,653 998.167 846.380 -21
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grabts payablo 2025 2024 Grants to in8littrtions.' Brrtish RgJ Cross- WdlbeiThJ Colle(ve Aspex- creats.ve Fanilies PCC Dieonary 164,3 10.000 1.000 6.000 4.440 25.830 23.730 Partrtship FoNIaOn (ValS) Portsrnouth Communrty Loltery IvityJ$l Fratton Togethe¥ CIC- pantry FA)tiv8. Youth mental heal Shift- MOU Age UK The Good Gym VCSE Hardship Ivariou51 Enableabilty- Post 25 C(wrDyUo) gro Aklirylyxjme TNBt Oth 28.756 5,¢J)O 4.440 6,093 s,0 6,880 6.Q93 10,000 9,900 19,340 7,40D 3.717 10.367 1,250 237.052 124,580 10 Support costs alk)cated to aetivitr•S 2Q26 2024 DepreTrab"cffi 8nd 8rnorb.sabc Prints"ng. ptsstag¢ and st ministration ITSofv/are and support Sjbscriptions InsuTance Bank charges AdVtIs1 Rates. de8ning and rent 8.317 9.357 213 10,383 11,065 9se 2,494 104 5,123 124,196 14,050 11.764 1.410 2.718 103 5,681 123.532 20.142 176.997 177.941 Anafys8d bgtWo9n: ChantaNa ath.vths 176,997 177.941
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Support costs allocated to actlvltles {Continued 2025 2024 Govwnanc• costs comprise: Audt fees Accountancy and Ind4eiyJerl Examination fees Legal and prof&%8ional 2.425 5,180 6,445 8,202 11.940 20,142 14,050 11 Trust•eg None of the trustees any r$on$ ccffinected wth thernl recetsved aoy remuneration or benefits from Ihe d)awity during Ihe ujrrent and pfior year. No twstee$ re¢wved ary rwmbursement of ary out of pod(et expenses duriThJ the current or prior year. 12 Employees The average mcthty number Ofnyet$ kn"rJ th¢ y¢arwas". 2025 Number 2024 Number 13 Employm•mt 2026 2024 Wages arKI salaries Sociel security costs Other Èpr10 Ix)5ts 459,655 19,030 5,638 430,199 16,128 5,007 484,323 451.334 Included within wages and salaThes are Employment C051s assooed wrfh staff do¥¥èled by other oiganLsats"ons totalllng £171.601 12024."£162.Q)01- Thp PayToN fDr su¢h staff remain5 1th th&r substantive empfoyer, therefore the chty wll recw15e the costs of Ihew eryployrnenL il does not Indude them 4ilhin the ernpl0 numbers. There were Th) empl)yees whose ann1 wrnJnernb"on mL¥e tha) £60.0W. R•mun•rdtion ol kay managernent personnel The Uneral"On of key management p•rsorNad 15 a5 hM¢)w& 2026 2024 AgJregat8 compensab 62.200 59,811 -23-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Taxatlon The charty 15 exempt trom tsx on incorne gan5 falir#J vmlhin 505 of Ihe Taxe3Act 1988 or 3eclion 252 01 ts Tbxation of Chargeabfe Gark%PAI 1992 to eXt that are appld to its charrtaNe ctjjects. 14 Transf•rs The transfer belen tLmds of £28.200 is made up ofthe fc4ltrM"ng."- . £26,200 transferred to Ihe Soknt NHS resttKled I1 to tcl ts balarre on ftmd at 31 March 2025. 15 PrlorY84rAdJuglmont The financial statewts incbjdè a yr lent for the comF4rnb"ve penoj whic made to corrKt the restn.cted fun¢Js Lwought fowartt as at 1 Apnl 2023. 16 IrrtangllAe fixed assots DI tsystgrn In¢ludly custom•r J*iDn¥hip man4er Cost At l April 2024 Ad¢JtDn5. separatety acquirj 41,250 9.840 At 31 March 2025 51,090 Amortisation and impalrnwnt At 1 Akyil 2024 AnrtiSaon charged for the year 41,250 1.968 Al 31 March 2025 43.218 Carrylng amount At 31 Mafth 2025 7,8T2 At 31 March 2024 -24-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Tanglble flxed assets T¢)tal Co At 1 April 2024 Adt1ilKJns 35,270 17,309 29,837 65.107 19.895 At 31 •Aarth 2025 52,579 32.423 85.002 Ogpfeclation and lrnpalmw)t At 1 April 2024 Depreoats"on charged in the yèar 14.108 5.258 22.003 8.317 36,111 13,575 31 M8rth 2025 39,366 30,320 49.686 Carryln9 amount Al 31 March 2025 33,213 2.103 35.316 Al 31 Marth 2024 21,162 7.834 28.996 18 Débtors 2025 2024 Amounts falling due wlthln on• y•ar. Trade debtors other debtors Prepayments and accru•Y income 428 10.000 6.658 148,056 10.000 6,464 17.086 164,520 19 Crèdjtots: amounts falllng due wlthln one yeai 2026 2024 Olhvtaxatson and s(yial security Deferred income other tr*dito Accruals and deferr•J income 5.72e 9,288 1.090 26.731 5.893 8,308 2.813 18.012 42,835 33.024 20 Deferred In¢om? 202S 2024 Othér dèfeffad income 9.288 6.306
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Deferred Income (Continu Delred income is irK4ud8d In the nartal athents as fc4knvs." 2026 2024 Deferred In¢omo 1$ vded wthin". Current liabilth.es 9,288 6.306 Movements in the year. Deferred IrmE at 1 2024 Rsleased from preViL$ periods Rè50urce5 d8ferr•l in Ihe year 6.306 16.3061 9.288 98.000 198.0001 6.306 Deferred Ome at 31 March 2025 9,288 6,306 Deferred Inco of £9:288 12024.. £8.3(Tr is in r8latiN) to rents recved and ryant amounts recerved in anc*.
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (coKnNUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restrlcied lunds The rastnL1ed funds of t1 chanty comprtsè Ixrded bakinS crf donabons and gY8nts held on trust subj.ect to specific conditk)rB by doncfs as to hrAv they may be use(l. At 1 Aprll IOrnIng Resources 2024 fegourcos expended Transfers At 31 March 202S cyp Solent NHS HDRC Project Natton¥l Lottery Communty Fund- Innovabon Criss grant, digital lend4ng library & sCj01 unifonn ReIelling Communities PCC- Staff (x)sts DIscreti(ary & househcY gmnts PaufsgfoYeArk Portsea Actmty Cornmunty Lar¢ ITfvastruLlure & 54.978 6,675 133,9041 129.4251 114.5441 61.074 3,450 2,906 28.20D 17,450 10.180 10,180 4.034 141 12.6771 1.498 500 78,042 78.042 38,168 12.0001 36,168 330 6.250 21.888 6.2 21.888 3,169 13.676 1.750 31.502 30.000 3.169 888 350 31,502 18,490 'd rter HDRC Devebprnerrt YR Pandemic 5UPPOrt pForting poverty stratege5 HIVE Communily Fund- Mental Hea HF BAE Systèms Portsmouth Disab"lty Fu Portsmouth Disawty Fund d85ignat VCSE Hardship PCC & NHS CCG Ilbeing colkth.ye 112.7881 112,6001 11.27 111,510) 146.652 2,881 161.765 404.553 {10.5331 136.119 2,881 67,463 371,777 194.3021 114,2801 124.0001 123.4971 110.4tK)I 146.572} 1226.3481 24.000 503 260 3,730 21.652 10,e60 248.(DJ 1.071.375 328,875 1545,3801 26.200 881.070 -27-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Restricted lun Icontlnugdl Réststed At 1 Aprll 2023 previo y•ar: IncomlDg Rosources resources expend•d Trnn8fers At 31 h1arch 2024 cyp Solent NHS clo high street gr*rt National Lottery Commun(ty Fund- Ination Crisis grant. digrtal lendin9 library & sthjol lforM ReconnethrKJ Communrlies PCC- Staff uJÈts DIsctionary & householj gTan15 Solent NHS Trust CmunicatiOnS & Engagemenl Officér Communty Larder InfrastriKture & 1being 141.0221 {43.3251 54,978 6.675 7.205 17.2051 21.247 {11.067) 10.180 11,605 500 78.042 17,5711 4,034 500 78,042 44.168 5.802 16.0001 18.078} 38.188 2.276 14.848 21.888 {21.8461 6.998 21,888 25.OLXI 121,8311 (2.5101 12,4501 117.1301 3,169 13.676 1,750 31.502 30.000 &'d wrrter HDRC D¢¥ek)pt YR Pandemic support Supportiro p)vety Strategies Cornmunity Fund- Mental Heatth HIWCF &4E Systems Portsmoulh Disth"lity Forum VCSE HardS1p PCC& NHS CCG 16.186 4,2th) li0.0) 30.OC¥) 161.625 2,881 125,278 422.918 114,9731 146,652 2,881 161.765 404.553 10,660 50,302 {61.5131 118.3651 179,3401 149.8981 100.IX#J 1,072.625 353,2(kl 1335.6531 {18,>>n 1,071,375
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restricted funds (Continu•dl cyp To provide slfficl re$¢uTces to surp)rt the developmerrt ofthe servw vduntsry and comrnunty sector for thildren and young peorAe's services in Portsmouth. This form an integral part in the Start for Life Protyamrne. Nauonal Lottery commun Fund- Innovatoon Gwant To prowde support for innovats.ve ideas and wciect5 fr¢ smal local vcluntary or communrty groups INed eXpenee to lest approaches With a ¥it0 reing a sustainable footing. Cfl$Js Granl Dlgmal L•ndlng Ubrary & School Unllonn Shop To the emerger)cy assistanTr d15crebow crigs grdnts, to enhaKe the digital lerhding library by th8 provLsion ol dceS and intefflet conneobons & to wowdè 8merg8ncy 8swarv gr8nts to user5 of th8 HIVE hool unrfomi sh¢4). Reconnectlng Communrties The purpose of this grant thme is icl gWK)rl PrtsnKrtth fesJents in tt¥j ts"r local community, to safety Urn to nv)re nomial ways of life. PCC Stsff Costs To fund ad¢th'tional staff costs a&xm8ted vmlh the delivw of SF•Jfic Supp for th& Clinically Extr8rndy lnerae group dunng the 2nd wave of the cOa 19 Pandtmte. Discreoary & Household Grants To prowdè administrative suppryt ts fvjffilment aThl furxting tr Covid DIscretnary Grants. Conwnunlty Larder To sÈt up a Comnwjnty Larder and White Goats offer. VCSE Hardship To support VCSE organtsalms In Iht cty at finanoal risk Ithere the cost of &w"rrfJ uiss has ruced abrtty to Solenl NHS To build engawont with and ¢acity for reswch aNI evaluation aEr055 cornmunities in Portsmouth. C&NMSCGG To facilitate Ihe ewcrfluction element of Ihe Ctynmuruty Menta Health Framewryk ICMHF) Infrastruciur• & Wellbglng T¢ set up the infrastructure for wetfare and kdity supm and to emwe the manernent and oversight of well-being ch&ck5. Wrtt•r To fund a tsd wrtter ts The HIVE Pc¥lsmtyJth and lder VCSE Pandemic Support To sw¢yt individuals and communitiès imparted by the pandemK. partifyJLqrty where they afe diThcally extremety vulnerable er have suffered adverse impxt from self-150knn. Supporwng pov•rty To support povgrty in the City. HfvE Community Fund - Mental H•aXh To support gaps in th8 mant4 prD¥ision in ts Cty*Drkry ¥th sta1 partws and the sector. -29-
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (coriNuED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restricted funds (ContEndI HFWCF This indu(s the BAME Connec & Trive 1¢h airns to Ixjikl the kdty and BAME vAthin Portsmoulh. 11 also indud8s the H1F - Sccd Vnrftym ams to contt¥Lth t(waS the o)sls of setb.ng up the school unrform bank. Flnaly, rt indudès the HtWCF- MH Firslkn TraiThrrfJ vthith am$ to I¥1• first aml training. BAE SysterT To eontrrfcLrte towards the lease or Iwte, fit out and lumishir#J, and OFeratron of up to two prernises to aTrE)W VCSE organisations to operats. wllsbotate and wovide see$ to tr)e I(¢ community. Portsmouth Dlsablllty Fornm On 20 January 2022. the assets and actiwties of Pc#tsmoulh DISa[ty Forum wère merged into the charrty. The yoceeds on Ihe merged amounted to £422.918. aThJ are as a testricaed donation in the accounts. HDRC Devek)pment YR To rk th PCC and the UnNersty of Portsmtyjlh to J•velDp a pro plan to buld engagament wth and pauty for research and eValt across cth7)munFbes Pcrt5rrK)th. HDRC Project To work wth PCC and the lJ)iver>ty of Portsmouth to lik1 ervJa9ernwrt wlh and c£pac4ty for ras•ar¢h and 8luati aryoss o)mmunrbes in Pcx1YKXth. ulsgrove Ark Funds from the Portsm Cornmurmty Lottery bw"ThJ hekl on behaff ol Fa$grOVeAf. Portsea Acttvity To support comrnunrty acb'uibé¥ in Portsea W911b•lnu Colle¢ti Tho lIbeing Collecve reducti of Wstsl 8<kntssiorts and help5 VAth safe disch?9 through nmunty suppo
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Unrnsirfcted funds The unrestricteLI lunds of the Ihg uXded WarKes of don"5 a)d grants are )t subject to Spea. condth.ons by donoF5 and grantor5 as to Ihey may be used. These indude designat8d fvnds vknKh have been set aside OF unrestricled funtt5 by the twstees for speGnfc purp)585. At 1 Aprw Inc)ming Resources 2024 r850urce5 èXP8nd8d Tr•nsferJ At 31 March 2025 Portsmauth Cnmmunty Lottery Projeds supporb'ng work Mental Heallh in tre Cty Digital IndUSn pioj&ts Building Sethr Capaoty Oi¥reknonary grants f ganisations supwb"r4J residents in cnsis &Jpport the developmwrt ¥et up of PantneslLarders across the City Poverty strategylprojecls Partnership smdl awards- supporling groLFPS and LYga)Isatitsns acrDSS ts ryty Trh?th food proVion Donation Panty Sweet Chau¢er House Over 25 CTrPrC*Jur0n Donats"ons dgnated General funds 38.189 13.551 133.6201 18.120 146.652 22.732 90.593 133.1331 113.519 21.715 80.593 11.017) 110.0001 37.ofMI 37,000 50.155 30.000 5.8C 112,102) 43,853 30.000 2,275 2.(XJO 12,2751 2,000 16,395 13,283 3,079 161,234 20.OC(I 13,605) 13.7171 1631 1387,0971 17.0(Ml 3.082 387.239 171.133 110.067) 590.729 429.672 1453.4901 126.2001 540,711 31
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 l•lARCH 2025 22 Unrestricted funds (Continuedl Previous y8ar. At 1 Aprd Incorning R•sourco8 2023 raUreS oxpendod Trnnsfers At 31 March 2024 Portsmouth C¢)rnmunrty Lottery Projects supporting work with ntal H&akh in the City Digital Indusion projects Buildtt"ng S8¢tor Capa¢ity D15cretionary grants for orgaTTis'oro suppryling residents crisis Support thè dthfoprnèrrt t UP of PardrieLJrders r088 the City Poverty strategylprojecl PartnersFwp small awards- 5UPPDrting woups and organisth.ons across the cty th frd provision Donation Panty Swet General fijnds 45,653 (T.4641 38.189 161.625 28.079 J.593 114.9731 {5.3471 146.652 22.732 90.593 43.oc 16.CKK)} 37,000 55,535 {5.3801 50,155 30.000 35.605 133,3301 (1.5001 1430.733} 2,275 2.000 171,133 2CIJ.271 382.598 18,997 69).361 392.098 1510.727) 18.997 590,729 23 Anatysls of n•t ass•ts fvn Unrnstrfctod R•stn"ctod funils fund5 2025 2025 Total 2025 Fund balances at 31 •Aath 2026 are reprTrted by: Intangible fixe(l assets Tangible assets Current assetsJlliaÈMlrbesl 7,872 35,316 497.523 7,872 35,316 1,378,593 881.070 540,711 881.070 1,421,781 Llnwtrlcted Rosirfet•d funds funds 2024 2024 Total 2024 Fund bakrtc•s at 31 Pljarch 2024 are ¥epresented by: Tangible assets Current 858et81llith'litwl 28,9 561,733 28.996 1,633.108 1.071.375 590.729 1.071,375 1,662.104
THE HIVE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (COTrlllNUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Opwatlng leaje eommitm•nts Ai the rewJning end de the charity had wtstanding CA)rnrnitments for future mirnrnum lease payments U[er ranClIable operating lease5, whKh fau duè as fc41ows". 2026 2024 Imthin one yeaT Bets¥88n hwo five yeats 40,000 53,978 37,894 17,677 93,978 55,571 During the year, the chartsble compay made payments un(kr leases totsling £37,262 12024.. £27.3231. 26 Relat party transactlon5 Th•re w•re Th) Lsdosle relate(I r• ItiC5 (Jring the yew {2024. )rE). 26 Cash gèn•Nt•d Irom operntlons 2026 2024 D8ficit fort year 1240.3231 1101,0821 Adjustrnents ft)r Investmant income rwnis&J in stat8nnt offinanrA81 ac"vth5 OepKec4ation and inwailment of tangil)le fved a5se15 117.8561 15.543 161 21,134 Movements in worting capit81'. Decwsellln¢eI in debtor5 Increase in cr8drtors Inueaselldecreasel in delred irtoTh 147.434 6.829 2.982 165,5981 3,077 191,6941 Cash absorbed ty operntlons 185,3911 1234.1691 27 Anatysls of changes In net frjnds The charty had no matla[ debt durin9 the yw.