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$, of crafts, both ancient and m¢xt¢rn, preserve and improve uaftmanship and fvrther promote and Increase the interests of the public therein.. and 31 To secure for the benefit of the natM)n the preservatk)n. protection. development and improvemènt of features of geologi¢al, botanical. scienltfic. historic and archaeological Interest in the Island of Portland. 41 To encourage an understanding of Ic￿1 heritage and family history. 51 To facilitate opportunrties for taking part in healthy living and lifestyle for all ages, from children to the elderly b. ACTIVITIES FOR ACHIEVING OBJECTIVES COVID ha$ 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 eSsen￿al 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 cORTLAND HERITAGE TRUST I report lo the In￿tee5 on my eXan￿n8￿0fi 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 st*lements carried out under sxtion 145 of the 2011 Act. In Ce￿ng out my examination I have folmd Ihe app￿.Cable Diredionj given by the Chartty Commiss￿n 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 Finan￿al 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 Und￿lInd that th1# has b￿n don• in othr for ffinarwxl •latemeth to wovkle a trug and falr a￿ord3nCe Genera￿ Acwted ACCOUn￿n9 Pradic• ?ffKti￿ for reporb'ng beglnnirwj on or aft•r 1 J￿￿ary 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$6 to bdleve that in any matwial r88P•¢t.' accounyng recc*d8 ￿re not kept rn respecl of the the trust a8 requlred ty *ecilon 130 of the 2011 A¢t,' or the Ilnanc1818tatements th not ac4x>rd rwd8', or thè trlnandal stslements do rM)t comply ¥Ath the applKaNe requirements cthicemlng fDrm content ol accounts 8•t out In the Charltlès IAf£ourts and Report81 R8gulallon8 2008 other than any requirement that the accounts gr￿ a Inm •nd tsir vknlch 1$ not a matter con&der•d ai part of an Independont •x•mlnafjon. have no concem8 arKJ have come no matter8 in eon1￿ctiOn Imth the examinallon to ￿1¢h ottenlion Shou￿j be in this TepNI n ¢)rdw t¢ enal)le a woper (rfthe finanixal $tatemer*s to be reach Matthew Haines Wadebridge House 16 Wadebridge Squar• Poundbury D￿he9¢er DT13AQ Dated". ISLAND OF PORTLAND HERITAGE TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 AIARCM 2020 Unr•¥trlct•d Llnrestrfcted fund* fijnds 2020 2019 Donats'ons and leg4c4•8 Charitsble advlU•s 1,260 26,974 27.046 Total Incom• 28,224 28.590 Charitable adivities 33.971 25,212 Not l•xwMXiuv•)ArKom• forth• y• Net mov•m•nt In fund• 16.74n 3,378 Fund b•lanc•8 al 1 Awil 2019 94,378 91,000 Fund b*l•ne•• at 31 2020 88.631 94,378 Th• thment oflklandal •cO¥llkn 8n g•kn8 •nd losw r•cwl8ad In thè year. All Income experKlitur• deri￿ from contknulng ISLAND OF PORTLAND HERITAGE TRUST BALANCE SHEET ASAf31 MARCH2020 2020 2019 Flx•d av•ts Tangible assets 45,189 47,155 Oebtors Cash at bank and In harKI 257 43.805 257 47.786 44,062 48,043 Cr•dltor¥: *mounts falllng *lthln ¢)n• y•Jr 16201 1820) Net cu￿ent •Ja•ts 43.442 47,223 Total a•••l• le•• cwr•nl Ihblllll•• 88,631 94,378 Inc¢)m• fvnd• Gener￿ Fund• 88.831 94,378 88,631 94,378 Th• flnancI￿ st*em￿lS wern appro4￿ by the Trustws 9 . 2070 B So%￿eY T￿•t•0 Tru¥t•• ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2020 Accountlng pollcl•• 1.1 AGGountlng ¢onvontlon The ffinan0￿ 8tatements ha%* been prepared in acconlanL* 7hith the the trusvs tgoverning docurrontl, th• Charities Act 2011 and 'A￿nting and Reporbng by ChanlSes.' Statement of Recomrnended Practbce applieabl• to ¢harili•s Prepar¥￿ their ac£ounts in accordance with the Finanaal Raporting Standard applicable in the UK and Republ￿ of Ir•land IFRS 1021 {eff￿)¥O 1 January 20191.. Th• lh• trust ij Publlc B•n•fft Entity as defined by FRS 102. The th• trust has taken advantage of the probl￿on$ 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 C￿ntIeS (Ae£ounts and Reports) Regulatsons 2008 onty lo t￿ •xtsnt reqlslred lo provlde a true and fair view. Th* departure has involved followng th* Stsltsm￿t of Recommended Practice lor charibos ap￿Ing 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 ￿t￿￿1rn%•Tr. The flnancial statements 4re prepared In Stsrtlng. 48 the funthnd Oft￿ the tr￿1. Monetary amounts in the￿ finan￿￿ •tatem￿lS are rourKled to th• n&v•8t £. 12 Golng conc•m Al the dme of Ippro￿n9 the ft11￿rA8I stateThrts, ￿ In￿t￿$ hw • r￿Sa￿at￿e •xpectatlon that the the trust has adequate re$ourc•s to Ca￿tinUe In operthnd e￿$tence for the foreseeable future. Thu8 th• tru•t•ei contirwjè to adopt the g0kn9 cA￿e￿n 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 obith*bt6 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 perfom*nce condthns ￿¥6 been m•t, th• amounts b• moasurnd r•MabPy. Is th•1 WIM be rncel¥•d. Cash don8b'¢)ns are recogrnsed on rti￿pl Other thJn8thJn$ are recognlsed once the the trust has been notffled of the donalon, unle88 perfornwnce cOr￿rt￿8 require deferral of the amount. In¢ome tsx recoverable in relation to donati￿9 receNed under GIft￿d 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 lo10￿1n9 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 he￿d, 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 pro￿810n5 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 enfOrC￿trA8 rtght to 8et off the recerfjnlsed anNJunts •nd thwe l• •n Intsntton to uttle on nel ba8is or to reall￿ the a￿0¢ 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 G￿ere1 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¢¢¥ a￿￿n9 8nd pr￿e$ 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 IThkP￿enI EXan￿ne￿3 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 conrth*ed *ilh th•ml reC￿d 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 a￿1 Impa1rn￿nt 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•t*wn 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-