Charity Registration No. 283881 ISLAND OF PORTLAND HERITAGE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 CBReid Chartered Accountants
ISLAND OF PORTLAND HERITAGE TRUST CONTENTS Pag• Trustees report Independent examine¢s [#t Statement of finanual actmiies B8lan¢e $heel Notes to the financial $latemenl$ 6-10
ISLAND OF PORTLAND HERITAG LEGAL AND ADMINISTRATIVE INFORM Trustegs B Sowley M Blundell M Pelliphe c stone N Ford M Stone W Mcmanu S Cockings B Taylor Charlty number 283881 Prlnclpal addr••• The Island Sl Georges Portland Dorsel DT5 2AN Indepondent ox•miner Matthew H Wadebridg 16 Wadebri Poundbury Dorchesler
ISLAND OF PORTLAND HERITAGE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru*t•68 B Sowley M Blundell M Pettipher C Stone N Ford Stoné WMcManu$ S Cockings B Taylor Charlty number 283881 Prfnclpal addr The Island of Portland Heritago Trust St Geor96s Centre Portland Dorsel DT5 2AN Indopgnd•nt examln•r Matthew Haines ACA Wadebridge House 16 Wadebridge Squarn Poundbury Doichester Dofset DT13AQ
ISLAND OF PORTLAND HERITAGE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Iru$tee$ present their report and financial statements for the year ended 31 March 2021. The charity also trades under the name St George'8 Centre. ObJe¢tivo1 and a¢tivitie¥ In Setting objectives and planning for xts"vilies. the Trustees have gNen due consideration to general guidance published by the charity commission relating to public beneffil. . POLICIES AND OBJECTIVES The main puw of tho Charity 1$ to provide a safe and enjoyable environment for people uslng the facilllies. 11 To atjvance the educatM)n ol the Publ in the arts and artist crafts.. 21 To promote any charitsble purpose which will eneourage the exercise, and maintain the standard$, of crafts, both ancient and m¢xt¢rn, preserve and improve uaftmanship and fvrther promote and Increase the interests of the public therein.. and 31 To secure for the benefit of the natM)n the preservatk)n. protection. development and improvemènt of features of geologi¢al, botanical. scienltfic. historic and archaeological Interest in the Island of Portland. 41 To encourage an understanding of Ic1 heritage and family history. 51 To facilitate opportunrties for taking part in healthy living and lifestyle for all ages, from children to the elderly b. ACTIVITIES FOR ACHIEVING OBJECTIVES COVID ha$ effe¢tivety dosed d¢)wn all a¢b"vities since the first lockdown in March 2020. Thi5 has meant no groups meeting for activities although our indivKlual workshop arb'sans have continued lo work on an individual basis but withoLrt their nomial participation sessb)n8. The Local and Famlly History study centre has not been able to aw)1 drop in vi8rtor8 but have responded to email and telephone queriès. The l¢xal Church ts[shiP group no lorw meets due to an ageing, thiindling membership and reslri¢lions caused by COVID. All fundraising events (Open days, Prize Bingo and Photographic C¢xnpetstion} have r£8sed temporarfly, although we hope to restsrt these later this year or next year. We also provide low rent studio facilib.es for local artisans lo work in. we have a world class ceramiclsgrafitto artisan, encaustic wax image maker. a sculptor keeps alNe the traditional carving of Portland stone, a w¢)odworker and boat builder, an intemational film maker, yacht ngger and a print maker. New this year is silversmith making jewellery. Grants have enabled us to keep the ntre ticking over, maintsining and deaning the building and keeping the office manager. Achlev•monts and perfornianc• Flnanclal revlew The Charity keeps sufficient funds in hand to Gover the Tunning costs for one year. Anything extra will be held in reserve to pay for eSsenal refurbishment.
ISLAND OF PORTLAND HERrrAGE TRUST TRUSTEES REPORT (coKfiNUED) FOR THE YEAR ENDED 31 AIARCH 2020 The Charty is govemed by a Dedaralion of Irust dat 21 Novembgr 1981 and is c<mstiluted as a tru Th8 trustees vrt 8eNed dudng the year arKI up to the date ot $lwwture of the finandal atat•ments we'. M Blundell M Pattlphtr C stts N Ford M Stone W McPAanu8 lappoinled January 2020} S Cocing8 lappoinled March 2020) Tho managomenl of the CW 18 thé responslbl1Y olthe Trustee8 are electsd and ctropted urKler the temm of the Trust deed. Tru•te8B are apFKinl•d via dectbon •t a methg arKI a rel0on 1$ not•d in the ielevanl mlnutes. The trust••8 report wyi 4pwovthJ by the Board ofTrustee•. 8So Tru8t•• Dated.. MBIU Trustee 3 9.ZoLo
ISLAND OF PORTLAND HERITAGE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLAND OF F>ORTLAND HERITAGE TRUST I report lo the Intee5 on my eXann80fi of the fuwrK481 #fateTh of Island of Pth11and Hentsge Trust (the the trust) for the year ended 31 2020. Rupon¥lblllll•• and bul• of rnport As the trustees of the the trust you are respon$ibl• for th• prepaf"on of tho finan(aal statgrngnts In accordanc8 vthh the requiremonts ofthe Charikne8Art 2011 (t 2011 Act). I report in respect of rny examination of th• th• trusY$ fin¢441 stlements carried out under sxtion 145 of the 2011 Act. In Ceng out my examination I have folmd Ihe app.Cable Diredionj given by the Chartty Commissn under section 145(5)(bl of the 2011 A Ind•p•nd•nt •x•mln•rf8 •tst•m•nt Your gttents.on Is dravm to the fad that th• ¢harity has pr•pornd fifwi¢ial statements in ac¢ordarKe vAth Acwunbng and ReForts'ng by Chorilie8 prepamg their accourts In acwrdance Ihe Finanal Rewing Standard appli¢abl• In the UK and Republlc of Ireland IFRS 102) in preference to th• A¢countkng and Reporting by Charities.. Statement of Recomnwnded Practice l••u•d 1 WI 2005 ¥thkh kn refer to In the extarrt r•gulalon8 but h88 nrhv been Vlthdravm. l UndlInd that th1# has bn don• in othr for ffinarwxl •latemeth to wovkle a trug and falr aord3nCe Genera Acwted ACCOUnn9 Pradic• ?ffKti for reporb'ng beglnnirwj on or aft•r 1 Jary 2015. I hav• completed my examination. I confirm th•t no matt•r8 come to my •ttenllon In connocllon vhth th• •xamlnalon glvlng me Cau$6 to bdleve that in any matwial r88P•¢t.' accounyng reccd8 re not kept rn respecl of the the trust a8 requlred ty ecilon 130 of the 2011 A¢t,' or the Ilnanc1818tatements th not ac4x>rd rwd8', or thè trlnandal stslements do rM)t comply ¥Ath the applKaNe requirements cthicemlng fDrm content ol accounts 8•t out In the Charltlès IAf£ourts and Report81 R8gulallon8 2008 other than any requirement that the accounts gr a Inm •nd tsir vknlch 1$ not a matter con&der•d ai part of an Independont •x•mlnafjon. have no concem8 arKJ have come no matter8 in eon1ctiOn Imth the examinallon to 1¢h ottenlion Shouj be in this TepNI n ¢)rdw t¢ enal)le a woper (rfthe finanixal $tatemers to be reach Matthew Haines Wadebridge House 16 Wadebridge Squar• Poundbury Dhe9¢er DT13AQ Dated".
ISLAND OF PORTLAND HERITAGE TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 AIARCM 2020 Unr•¥trlct•d Llnrestrfcted fund fijnds 2020 2019 Donats'ons and leg4c4•8 Charitsble advlU•s 1,260 26,974 27.046 Total Incom• 28,224 28.590 Charitable adivities 33.971 25,212 Not l•xwMXiuv•)ArKom• forth• y• Net mov•m•nt In fund• 16.74n 3,378 Fund b•lanc•8 al 1 Awil 2019 94,378 91,000 Fund bl•ne•• at 31 2020 88.631 94,378 Th• thment oflklandal •cO¥llkn 8n g•kn8 •nd losw r•cwl8ad In thè year. All Income experKlitur• deri from contknulng
ISLAND OF PORTLAND HERITAGE TRUST BALANCE SHEET ASAf31 MARCH2020 2020 2019 Flx•d av•ts Tangible assets 45,189 47,155 Oebtors Cash at bank and In harKI 257 43.805 257 47.786 44,062 48,043 Cr•dltor¥: mounts falllng lthln ¢)n• y•Jr 16201 1820) Net cuent •Ja•ts 43.442 47,223 Total a•••l• le•• cwr•nl Ihblllll•• 88,631 94,378 Inc¢)m• fvnd• Gener Fund• 88.831 94,378 88,631 94,378 Th• flnancI st*emlS wern appro4 by the Trustws 9 . 2070 B So%eY T•t•0 Tru¥t••
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2020 Accountlng pollcl•• 1.1 AGGountlng ¢onvontlon The ffinan0 8tatements ha% been prepared in acconlanL 7hith the the trusvs tgoverning docurrontl, th• Charities Act 2011 and 'Anting and Reporbng by ChanlSes.' Statement of Recomrnended Practbce applieabl• to ¢harili•s Prepar¥ their ac£ounts in accordance with the Finanaal Raporting Standard applicable in the UK and Republ of Ir•land IFRS 1021 {eff)¥O 1 January 20191.. Th• lh• trust ij Publlc B•n•fft Entity as defined by FRS 102. The th• trust has taken advantage of the problon$ in th8 SORP for dwibes appPying FRS 102 Update Bullets'rb 1 not to prepare a Statement olcash FIch. The finarrial statem•nts have dep4rted ftom the CntIeS (Ae£ounts and Reports) Regulatsons 2008 onty lo t •xtsnt reqlslred lo provlde a true and fair view. Th departure has involved followng th Stsltsmt of Recommended Practice lor charibos apIng FRS 102 rather than the version of the Stslemenl of Rewnmended Pr•¢tic• Vthkh li r•ftrr•d to In the ReguE#tion• but has •inc• beon t1rn%•Tr. The flnancial statements 4re prepared In Stsrtlng. 48 the funthnd Oft the tr1. Monetary amounts in the finan •tatemlS are rourKled to th• n&v•8t £. 12 Golng conc•m Al the dme of Ippron9 the ft11rA8I stateThrts, Int$ hw • rSaate •xpectatlon that the the trust has adequate re$ourc•s to CatinUe In operthnd e$tence for the foreseeable future. Thu8 th• tru•t•ei contirwjè to adopt the g0kn9 cAen baiii of acuunting In prepary th• fm•nci•l •tat•m8nt•. 1.3 Charltabl• fun Generd fund¥ are Lm¥trkW fvrKls •r• •vJll•ble for use •t the dl8crotlon of the tru8t•eJ In rth•r8nce ol thelr charttable obithbt6 and have not been d•#ignatsd for other purpo#es. 1A Incomlng r••our¢ Income 18 recogni8ed vthen the the trust18 legAlly enltled to After ary perfomnce condthns ¥6 been m•t, th• amounts b• moasurnd r•MabPy. Is th•1 WIM be rncel¥•d. Cash don8b'¢)ns are recogrnsed on rtipl Other thJn8thJn$ are recognlsed once the the trust has been notffled of the donalon, unle88 perfornwnce cOrrt8 require deferral of the amount. In¢ome tsx recoverable in relation to donati9 receNed under GIftd or deeds of covenant is reojgnised al the time olth• don•tk•n. 1.6 Tanglljlo flx•d aM•t• T8nglble fixed a88ets are initidty measured at cogt WKI 8Lkn8effj*nty m8asuTed at cost or valuatiL, net of depreuatton and any impaimwnt10sses. Oepredatlon 18 recognlud so as to WTite off the cost or valuaknn of assets less thelr resldud values over thèir useful Ilves on the lo101n9 bases: Freehold bulldln98 Computers stra&ht Ihie over 50 yew8 20% reduong balance Freehokl not d•pTeclated.
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2020 Accountlng poll¢l•g IContlnu•d} 1.6 Cash and ush •qufval•nl8 Cash and ca8h equNalents indLth ¢a8h In hed, dep081ts held al cam banks. other short4ern liquid Investments th original maturibes of three months or le88, arvj bank overdrafts. Bank overdrafts are $hovm within lJ)rrovAng8 in ¢urr•nt Uth"lrtl••. 1.7 Flnanclal Instrumw The the trust has elected to apply the prvvi$ions of Sectiw 11 'BaS Fmon¢i81 In¥trum•nts' and Sectlon 12 'Oiher Finandal Instruments133. ol FRS 102 to aH of ts flnan(¥al instruments. Flnanwl Intytrunwts are rec4)grused in the the trusfs bala& sheet the the trust becom•• paty to the contra¢tual pro810n5 of the kn8trum8nL Flnanckql assets And liaÈ41th• ore offlet, vAth the n•1 omounls pre•ented in the fin&1 •tatements, Iher•18 a legalty enfOrCtrA8 rtght to 8et off the recerfjnlsed anNJunts •nd thwe l• •n Intsntton to uttle on nel ba8is or to reall the a0¢ and 8•lde the wmull8n•ousty. Donatton• and l•gocl•• UnrMtrSct•d Unr•thct•d nds 2020 2019 Donattona and gl 1.250 Charft•bl• A¢tlvltl Ch•rft•bl• Charltabbe Income 2020 2019 Other Incomè 26,974
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEIAENTS (CONTINUED) FOR fHE YEAR ENDED 31 MARCH 2020 Chritabl• actlvlti Charltabl• Charitable Exp•ndlturo Expndltur• 2020 2019 Gere1 propevty maint•narKe Light, heat and power Comwrter costs Rate8. wdler and offluent Insuran Cleaning and refuse Telephone Centre management fe Membership and h'cencé f¢¢¥ an9 8nd pre$ PrlntSng. postsge arKI atatsomry 13.717 3.882 202 1.024 4.386 1,184 8,045 3.456 100 919 4,200 1,133 691 6.120 23 6,100 281 210 81 57 2,018 33,503 24,762 Sharn olg0veman rAxts note S) 468 450 33,971 25,212 Anaty81• by fund Unre8lrict•d fund• 33,971 25,212 For th• yMr •ndod 31 I1•h 2019 Unrostrthd furK 25,212 8upport colts 2019 IndeperKknt examiners fees 450 450 Analysed betrhwn Charitable 8cUvlles 450 Govemantx Costs indudes the IThkPenI EXanne3 fee of£468 (201& £450}.
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2020 None of the trustees (or any per8oM conrthed ilh th•ml reCd any remunerntion or benefits from the the trusl during tho year. Employ• Th•r• no •mploy•e8 during the yew. T•nglbl• flx•d buldth Co•t At 1 Apdl 2019 113.047 12,198 125.245 At 31 March 2020 113,047 12.198 125,245 D•pr•¢latlon a1 Impa1rnnt Al 1 April 2019 Depre¢iatlon charged In the yéar 86,916 1,781 11.174 205 78,090 1,986 At 31 M•rch 2020 68,8TI 11,379 80,056 Carrylng moutrt At 31 March 2020 44,370 819 45,189 At 31 M¥rth 2019 46.131 1.024 47.155 Dgbtor• 2020 2019 Amounts f•lllng du• lthln ¢)n• y••r. Propgym•nts arKI accrued ino)me 257 257 10 CTrdllorn: arn f•lllng du• or* y•ar 2020 2019 Trade ue(IKor¥ Accruals and delerred income 310 510 510 620 820
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMEMrs (coKriNUED) FOR THE YEAR ENDED 31 MARCH 2020 11 An•1 of n•t ts8•ts b•twn fimds Unr••trlct•d Unrestricted fvnds nd8 2020 2019 Fund balances at 31 March 2020 are fewe8•rtsd ty.. Tanglble assets Current 888etslOkgbilille¥) 45.189 43.442 47.155 47,223 88,831 94,378 12 R•l•t•d m tr•nMcllon• There were no d1• rd•ted paty hns•¢kni thè year (2019. non•). 10-