06 October 2023 Ref: 1320T1/MH/PM Island of Portland Heritage Trust c/o Mr Martin Blundell 4 Lanehouse Rocks Road Weymouth Dorset DT4 9DQ Dear Martin ## **2023 Approval Accounts** Please find attached a copy of the approval accounts for the Island of Portland Heritage Trust for the year ended 31 March 202 3 . Please take the time to review the accounts and if anything is not clear or appears to be wrong, please let me know so that I may explain it or correct it. Please let me know how many copies of the bound accounts that you require so that the correct number can be sent to you. I would like to draw your attention to the following points in respect of the accounts: 1. All funds are treated this year as unrestricted. I would be grateful for your confirmation that this is correct and that none of the income received was for restricted purposes. 2. If you have had any correspondence from HMRC then please let me know. I trust that everything enclosed is clear but please feel free to contact me if you would like to discuss anything further. Once the accounts are approved, please arrange to submit a copy to the Charities Commission. Finally, I enclose a note of charges for your kind attention in due course . Once the accounts have been approved, I would be grateful if you could please arrange for collection of your records from our office. **CB Reid, Chartered Accountants** Directors P A Cattermole FCA, D C W Reid FCA, L Evans FCCA, M C Haines FCA MCSI Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales. CB Reid is a trading name of CB Reid Limited, Company Number 04717900. Registered Office: Wadebridge House, 16 Wadebridge Square, Poundbury, Dorchester, Dorset DT1 3AQ. CB Reid is part of the Donald Reid Group With kind regards. Yours sincerely ## **Matt Haines** Director For and on behalf of CB Reid Limited Encs **CB Reid, Chartered Accountants** Directors P A Cattermole FCA, D C W Reid FCA, L Evans FCCA, M C Haines FCA MCSI Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales. CB Reid is a trading name of CB Reid Limited, Company Number 04717900. Registered Office: Wadebridge House, 16 Wadebridge Square, Poundbury, Dorchester, Dorset DT1 3AQ. CB Reid is part of the Donald Reid Group **Charity registration number 283881** ## **ISLAND OF PORTLAND HERITAGE TRUST** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|M Blundell|| |---|---|---| ||M Pettipher|| ||C Stone|| ||N Ford|| ||M Stone|| ||C Callis|(Appointed 24 July 2023)| ||E Hurst|(Appointed 24 July 2023)| |**Charity number**|283881|| |**Principal address**|The Island of Portland Heritage Trust|| ||St Georges Centre|| ||Portland|| ||Dorset|| ||DT5 2AN|| |**Independent examiner**|Matthew Haines ACA|| ||Wadebridge House|| ||16 Wadebridge Square|| ||Poundbury|| ||Dorchester|| ||Dorset|| ||DT1 3AQ|| ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 9| ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ The Trustees present their report and financial statements for the year ended 31 March 2023. The charity also trades under the name St George's Centre. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the the Trust's Declaration of Trust dated 20 November 1981, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. ## **a. POLICIES AND OBJECTIVES** The main purpose of the Charity is to provide a safe and enjoyable environment for people using the facilities at the St George’s Centre. 1. To advance the education of the public in the arts and artistic crafts; 2. to promote any charitable purpose which will encourage the exercise, and maintain the standards of crafts both ancient and modern, preserve and improve craftsmanship and further promote and increase the interest of the public therein; 3. to secure for the benefit of the nation the preservation, protection, development and improvement of features of geological, botanical, scientific, historical and archaeological interest in the Island of Portland; 4. to encourage an understanding of local heritage and family history; 5. to facilitate opportunities for taking part in healthy living and lifestyle for all ages. ## **b. ACTIVITIES FOR ACHIEVING OBJECTIVES** Activities and engagement at the St George’s centre have almost returned to pre-pandemic levels and good use is once again being made of the Charity’s facilities and although some user groups have ceased to operate we also have some new hirers of our facilities for meetings, classes and worship. A regular use several times a week is dance training promoting healthy activity for children and young people. The Charity also provides low-rent studio facilities for local artisans to work in. We have a world-class ceramic/ sgrafitto artist, an encaustic wax image maker, a sculptor keeps alive the traditional carving of Portland stone, a woodworker and boat-builder, an international film-maker, a yacht rigger, a print maker and a silversmith. We maintain a waiting list for use of these desirable low cost studio spaces. The Heritage study centre volunteers continue to gather, collate and catalogue documents and photographs that record families, buildings and institutions on the Island of Portland. Most enquiries whether local, national or international are mainly dealt with by email. Personal callers are also welcomed. ## **Achievements and performance** ## **Financial review** The Charity maintains sufficient funds to pay liabilities as they fall due and has reserves to keep the centre running for up to one year in the event that income from activities is depleted. Our fund raising activities have not taken place this year due to a lack of volunteers and external support not being forthcoming, however we are reviewing this. - 1 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **Structure, governance and management** The Charity is governed by a Declaration of Trust dated 21 November 1981 and is constituted as a trust. The Trustees who served during the year and up to the date of signature of the financial statements were: M Blundell C Stone M Pettipher N Ford M Stone C Callis Appointed 24/07/2023 E Hurst Appointed 24/07/2023 S Cocking Resigned 08/05/2023 W McManus Resigned 15/10/2022 B Taylor Resigned 05/10/2022 B Sowley Resigned 07/08/2022 The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Trustees are appointed via election at a Trustees meeting and a resolution is noted in the relevant minutes. The Trusttees report was approved by the Board of Trustees. .............................. **M Blundell** Trustee 13 Oct 2023 Dated: ......................... - 2 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF ISLAND OF PORTLAND HERITAGE TRUST** I report to the Trustees on my examination of the financial statements of Island of Portland Heritage Trust (the the Trust) for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the Trustees of the the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Trust has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the the Trust as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## Matthew Haines ACA Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT1 3AQ Dated: ......................... - 3 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |||**Unrestricted **|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|706|11,267| |Charitable activities|**3**|29,501|22,660| |**Total income**||30,207|33,927| |**Expenditure on:**|||| |Charitable activities|**4**|19,708|18,576| |**Net incoming resources before transfers**||10,499|15,351| |Gross transfers into funds||10,043|-| |**Net income for the year/**|||| |**Net movement in funds**||20,542|15,351| |Fund balances at 1 April 2022||122,714|107,363| |**Fund balances at 31 March 2023**||143,256|122,714| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2023**_ |**2023**
**Notes**
**£**
**Fixed assets**
Tangible assets
**8**
**Current assets**
Cash at bank and in hand
104,477
**Creditors: amounts falling due within**
**one year**
**9**
(721)
Net current assets
**Total assets less current liabilities**
**Income funds**
General Funds
13 Oct 2023|**£**
39,500
103,756
143,256
143,256
143,256|**2022**
**£**
81,961
(620)|**£**
41,373
81,341| |---|---|---|---| ||||122,714| ||||122,714| ||||122,714| ||||| The financial statements were approved by the Trustees on ......................... .............................. M Blundell ## **Trustee** - 5 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the the Trust's Declaration of Trust dated 20 November 1981, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The the Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the the Trust. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** The Trustees have considered the financial position of the Trust, both during the period and as a result of the COVID-19 pandemic, and have assessed both financial and operational risk. They are of the opinion that the Trust has sufficient financial resources to continue to operate as a going concern for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in the preparation of the financial statements. ## **1.3 Charitable funds** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of their charitable objectives and have not been designated for other purposes. ## **1.4 Incoming resources** Income is recognised when the the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations and grants are recognised once the the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. - 6 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Tangible fixed assets** Tangible fixed assets are carried at depreciated historical cost. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold buildings straight line over 50 years Computers 20% reducing balance Freehold land is not depreciated. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **2 Donations and legacies** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Donations and gifts|706|600| |Grants receivable|-|10,667| ||706|11,267| ## **3 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**Income**|**Income**| ||**2023**|**2022**| ||**£**|**£**| |Other income|29,501|22,660| - 7 - **ISLAND OF PORTLAND HERITAGE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **4 Charitable activities** |**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2023**
**2022**
**£**
**£**
General property maintenance
3,457
1,806
Light, heat and power
3,180
3,474
Computer costs
-
48
Rates, water and effluent
690
535
Insurance
3,333
3,143
Cleaning and refuse
593
521
Telephone
454
436
Centre management fees
5,050
5,600
Membership and licence fees
467
633
Printing, postage and stationary
-
20
Depreciation
1,872
1,892
19,096
18,108
Independant examiner's fee
612
468
19,708
18,576
**Analysis by fund**
Unrestricted funds
19,708
18,576|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2023**
**2022**
**£**
**£**
General property maintenance
3,457
1,806
Light, heat and power
3,180
3,474
Computer costs
-
48
Rates, water and effluent
690
535
Insurance
3,333
3,143
Cleaning and refuse
593
521
Telephone
454
436
Centre management fees
5,050
5,600
Membership and licence fees
467
633
Printing, postage and stationary
-
20
Depreciation
1,872
1,892
19,096
18,108
Independant examiner's fee
612
468
19,708
18,576
**Analysis by fund**
Unrestricted funds
19,708
18,576|**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2023**
**2022**
**£**
**£**
General property maintenance
3,457
1,806
Light, heat and power
3,180
3,474
Computer costs
-
48
Rates, water and effluent
690
535
Insurance
3,333
3,143
Cleaning and refuse
593
521
Telephone
454
436
Centre management fees
5,050
5,600
Membership and licence fees
467
633
Printing, postage and stationary
-
20
Depreciation
1,872
1,892
19,096
18,108
Independant examiner's fee
612
468
19,708
18,576
**Analysis by fund**
Unrestricted funds
19,708
18,576| |---|---|---| ||**2023**
**£**
3,457
3,180
-
690
3,333
593
454
5,050
467
-
1,872
19,096
612
19,708
19,708|**2022**
**£**
1,806
3,474
48
535
3,143
521
436
5,600
633
20
1,892| |||18,108
468| |||18,576| |||18,576| ## **5 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the the Trust during the year. ## **6 Employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **7 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. - 8 - ## **ISLAND OF PORTLAND HERITAGE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**8**
**Tangible fixed assets**
**Cost**
At 1 April 2022
At 31 March 2023
**Depreciation and impairment**
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
**Carrying amount**
At 31 March 2023
At 31 March 2022|**Freehold**
**buildings**
**Computers**
**£**
**£**
113,047
12,198
113,047
12,198
72,199
11,674
1,761
111
73,960
11,785
39,087
413
40,848
525|**Total**
**£**
125,245| |---|---|---| |||125,245| |||83,873
1,872| |||85,745| |||39,500| |||41,373| ## **9 Creditors: amounts falling due within one year** |Trade creditors
Accruals and deferred income|**2023**
**£**
110
611
721|**2022**
**£**
110
510| |---|---|---| |||620| ## **10 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| ||**Unrestricted**|
**Unrestricted**| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Fund balances at 31 March 2023 are represented by:||| |Tangible assets|39,500|41,373| |Current assets/(liabilities)|103,756|81,341| ||143,256|122,714| ## **11 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 9 - Wadebridge House 16 Wadebridge Square T: 01305 215 800 Poundbury, Dorchester E: info@cbreid.co.uk Dorset DT1 3AQ W: www.cbreid.co.uk **Date:** 06 October 2023 **Our ref:** 1320T1 **Invoice No:** 520603 VAT No. 813 1264 66 Island of Portland Heritage Trust c/o Mr M Blundell 4 Lanehouse Rocks Road Weymouth Dorset DT4 9DQ ## **VAT INVOICE** ## To: Professional Services Rendered Preparation and Independent Examination of charity accounts for the year ended 31 March 2023 510.00 **VAT @ 20%** (unless otherwise stated) **102.00** **£ 612.00** ## Settlement terms: 21 days from date of invoice ## **CB Reid, Chartered Accountants** Directors - P A Cattermole FCA, D C W Reid FCA, L Evans FCCA, M C Haines FCA MCSI Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales CB Reid is a trading name of CB Reid Limited, Company Number 04717900. Registered Office: Wadebridge House, 16 Wadebridge Square, Poundbury, Dorchester, Dorset DT1 3AQ. CB Reid is part of the Donald Reid Group **Client Code:** 1320T1 **Client Name:** Island of Portland Heritage Trust **Date:** 06 October 23 **Amount Due:** £ 612.00 **Amount Enclosed:** ……………… **Invoice No:** 520603 ## **Methods of Payment:** **BACS –** Lloyds Bank Plc Sort Code: 30-92-69 Account No: 21755068 Account Name: CB Reid Limited Please Quote: 520603 SuiteFiles **Cheque –** Please detach this remittance slip and send with your cheque, Digitally signed by SuiteFilesDocument Signing **made payable to CB Reid Limited** , to the address above Document Signing Date: 2023.10.13 11:01:16 +00:00Reason: Signature requested Location: User IP : 88.110.212.120