Charity registration number 283881 ISLAND OF PORTLAND HERITAGE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ISLAND OF PORTLAND HERITAGE TRUST LEGAL AND AOMINISTrATIVE INFORMATION Trustees: M Blundell M Pettipher (removed 28 October 20241 C stone N Ford M Stone C Callis (appointed 24 July 20231 E Hurst13ppointed 24 July 20231 S Mile5 lappointed 15 January 20241 Charlty number: 283881 Prlnclpal addre55: The Island of Portland Heritage Trust, St George's Centre, Reforne, Portland Dorset DT5 2Am Independent examiner Mrs M Biggins
ISLAND OF PORTLAND HERITAGE TRUST CONTENTS Page TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLAND OF PORTLAND HERITAGE TRUST STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT For the year ended 31 March 2024 BALANCE SHEET As at 31 March 2024 NOTES TO THE FINANaAL STATEMENTS For the Year Ended 31 March 2024
ISLAND OF PORTLAND HERITAGE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and financial statements for the year ended 31 March 2024. The Trust also trades under the name 5t George'5 Centre. The financial statements have been prepared in accordance with the accounting policies set out in Note I to the financial statements and comply with.. 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 account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective I January 20191. Oblectlve5 and artlvltles 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. I. POUCIES AND OBJECTIVES The main purpose of the Trust is to provide a safe and enjoyable environment for people using the facilities at the St George's Centre. To advance the education of the public in the arts ènd artistic crafts- b. 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. to secure for the benefit of the nation the preservation, protettion, development and improvernent of features of geological, botanical. scientific, historical and archaeological interest in the 151and of Portland,. d. to encourage an understanding of local heritage and family history,. e. to facilitate opportunities for taking part in healthy living and lifestyle for all ages. 2. ACTIVITIES FOR ACHIEVING 08JEcfivES Activities and engagement at the St George's centre have almost returned to pre-pandemic leve15 and Rood use is once again being made of the Charit5 facilities. Regular Broups using the facilities include dancing for all age group5: yoga- seated exeTci5e,' singing; Brownies; Women's Institute. The Charity also provides low-rent studio facilities for local artisans to Work in. Currently in residence there is a world-class ceramiclsgrafitto artist, an encaustic wax image maker, a sculptor in the traditional carving of Portland stone, a woodworker and boat-builder, an international film-maker, a v3cht rigger. a print maker and a silversmith. The Trust maintain5 a waiting list for use of these highly desirable, low cost studio spaces. Royal Manor Workshops was formed in 1981 to help the Trust in its objettives to keep alive and pass on traditional heritage crafts such as spinnin& weaving and stained glass and other crafts to young people and adult5 Of all ages and abilities.
ISLAND OF PORTLAND HERITAGE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Icontinued) The Trust support5 the Work of the Portland Lo¢al and Family History Centre by providing an office space for archival storaRe of matgrials ro13ting to the Isle of Portland. The Centre opens twico a week throughout the year, except for Bank Holidays and over Christmas, and also by special arrangement. Four volunteers work towards collectin& archiving and digitising documents, artefacts and other records with Portland connections. In the ye3T, 62 visitors made personal visits to the Centre- in addition IS enquiries were made by email. The Centre works alongside other or83nisations, such as the local museum. the St George's Church volunteers and the arts group B-side. The work with B-side is an ongoing partnership which brings together artistic endeavour and historic research to promote the history, culture and general interest of the island. This work will continue into the coming years. Some of the work of the Study Centre in 2023124 ha5 been: an exhibition to celebrate past Coronation5,' research around Portland stones found in Holland: his Land, project. in conjunction with the B-side organisation; as well as numerous individual querie5 regarding families, graves. houses and other buildings; continuing the digitising of records and the indexin8 of articles and publications to enable easier searching of the archive. The Centre has also received a number of donations connected with island families and place5. These are indexed digitally as far as possible and preserved in the archive for future generations. Financial review The trust generated a deficit of expenditure over income in the year of £21,655. Thi5 15 the result of a purposeful programme of using cash balances for repairs and maintenance to preserve the fabric of the building. Major items of expenditure in the year included roof repair5. window repaSr and replacement, a new kitchen in the Peter Trim Hall and replacement. low cost lighting. The Trust maintains sufficient funds to pay liabilitie5 as they fall due and has reserves to keep the centre running for up to one year if 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 bein8 forthcomin& however there are a number of events in the pipeline to address this. The Trust currently has built up some cash resources of £85,CNX) la5 at the balance sheet datel. The use of these resources is mainly reserved for.. A general reserve of approximately l yearfs running costs1£20.0001. in recognition of the risks of another major incident similar to the COVID 19 pandemic. in order to protect and maintain the Trust in such circumstances,. Maintaining the buildings and facilities of the 5t George's Centre. The omount of the necessary is to be determined, with reference to an independent survey, carried out by qualified persons. Further information is provided below- Other activities and projett5 deemed necessary by the Trust. Building Maintenance The condition of the Centre is crucial to its continue(J income generation, whether from workshop rental or from rcsular or casual letting.
ISLAND OF PORTLAND HERITAGE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 {continued) A report into the condition of the Centre was commissioned in 2013. Since then, a limited amount of work has been addressed. due to funding constraints. The Trustees therefore intend to revisit and update the survey and to commit resource5 as far a5 possible to address the maintenance, in priority order. The most urgent identified works are dominated by the water tightness of the roof, valleys and chimney breasts,. 35be5tos removal and encap5ulation' window frames,. and drainage chèmbers. Work has already been commi55ioned for the most urgent maintenance issues: the Bell tower, which is leakin& at an approximate cost of £8k. and replacement of some of the windows. Further work is needed to ensure that the iconic 8ell Tower remains structurally sound and this 15 being actively moved forward. In addition, modernisation of the heating and plumbing needs to be carried and a redecorative programme developed to ensure the desirability of the building as a venue for hire. During the year the Peter Trim Hall kitchen facilities were modernised and redecorated, using a legacy received from the Trim family. The Trustees will also develop a forward looking programme of planned. preventative maintenance. During the year, the Trust effetted a Transfer of Deeds of property to Official Custodian of Charities Landholding Service. Thi5 15 a free service which holds Charitable land constantly in the same name regardless of who the trustees are. Strurture, governance and management The Charity is governed by a Declaration of Trust dated 21 Novernber 1981 and is constituted as a trust. The Trustees who served during the year and up to the date of si8nature of the financial statements were.. M Blundell C Stone M Pettipher Iremoved 28 October 20241 N Ford M Stone C Callis E Hurst S Miles lappointed 15 January 20241 The management of the Charity is the responsibility of the Trustees who are elected and co-opted nder 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 Trustees, Report was approved by the Board of Tru5tee5. M Blundell Trustee Dated: L• l. I t
ISLAND OF PORTLAND HERITAGE TRUST INDEPENDENTEXAMINER'S REPORTTOTHE TRUSTEES OF ISLAND OF PORTLAND HERITAGE TRUST I report to the Trustees on my examination of the financial statements of151and of Portland Heritage Trust Ithe Trust) for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements ol the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Trust's financial statements carried out under section 145 of the 2011 Act. In tarryin8 OLrt my examination I have followed all the applicable Directions given by the Charity Commission under settion 145lSllbl of the 2011 Att. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records- or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charttie5 ',Accounts and Reports) Regulations 2008 other than any requirement that the èccounts give a 'true and fairf view which 15 not a matter considered as pèrt of an independent examination. I have no concerns and have come acr055 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 accounts to be reached. Maureen Biggins 27, Upper83te Hepworth Holmfirth Huddersfield West Yorkshire HD9 ITG
ISLAND OF PORTLAND HERITAGE TRUST STATEMENTOF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT Forthe year ended 31 March 2024 Income Note 2024 2023 Donations and legacies 375 706 Charitable Activities 30.482 29,501 Bank Interest 312 Total income 31,169 30,207 enditure Charitable activities 52,824 19.708 Total expenditure 52,824 19,708 Net incoming resources before transfers 121.6551 10.499 Gross transfer into funds 10,043 Fund balance5 a5 at l April I21.1 143,256
ISLAND OF PORTLAND HERITAGE TRUST BALANCE SHE A$ at 31 March 2024 Note 2024 2024 2023 2023 Flxed assets Tangible assets 37.656 39,500 Current aSts cash at bank and in hand debtors 84,090 460 84.450 104,477 creditors.. amounts falling due within l year io 16051 17211 Net current assets 83.945 103,756 Total assets less CUTrenl 121.601 143,256 Funds General fund li 121,601 143,256
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2024 l. Accountlng pollcies 1.1 Accountln8 convention The financial statements have been prepared in accordante with the Trustee's Declaration of Trust dated 20 November 1981. the Charities Act 2011, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS102"1 leffective l January 20191. The Trust is a Public Benefit Entity ès defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities riot to prepare a Statement of Cash Flows. The financial statements have departed from the Charities IAccounts and Reportsl Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice which is referred to in the Regulations, but which has since been withdrawn. The finantial statements are prepared in steflin& which is the functional current of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Golng concern The Trustees have considered the financial position of the Trust arbd have assessed both financial and operational risk. They are of the opinion that the Trust has sufficient financial re50urce5 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 statement5. 1.3 Charltable funds General funds are unrestritted 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 Incorning resources Income is recognised when the Trust is legally entitled to it after any perfomance conditions have been met, and it is probable that the income will be received. Cash donations are recognised on receipt. Other donations and grant5 are recognised once 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 15 recogni5ed at the time of the donation. Expenditure 15 recognised once there is a legal or tonstmctive obligation to transfer economic benefit to a third party, it is probable that a transfer of economit benefits will be required in settlement, and the amount of the obligation can be measured reliablv. Expenditure is cl355ified by activity. The cost5 of each attivity a rnade up of the total of direct costs and shared costs, inclLEding support costs involved in undertaking each attivity. Direct COSt5 attributable to a single activity are allocated to the activity. Shared costs that contribute to more than one activity and support costs that are not attributable to a single octivity are apportioned between those activities on a basis consistent wilh Ihe use of resources.
ISLAND OF PORTLAND HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 MarGh 2024 1.5 Tangible fixed a55ets 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 re5idu31 values over their useful lives on the following bases: Freehold buildings Computers Straight line over 50 years 20% reducing balance 1.6 Cash and cash equivalents Cash and cash equlvalents include cash and cash in hand, deposits held at call with banks, other sort- term investments with original maturitie5 of three months or less, and bank overdraft5. Bonk overdrafts are shown within borrowings in current liabilitie5. 2 Donatlons and legacies 2024 2023 Donations and gift5 37S 706 Grants receivable 375 706 3 Charitable actlvlties 2024 2023 Other income 30,216 29.501 Adjustment to opening cash balance 266 30.482 29,501
ISLAND OF PORTLAND HERITAGE TRUST NOTESTO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024 4 Charitable artivlties Z024 zozj General Property Maintenance Li8ht, heat and power Computer costs Rates, water and effluent Insurance 33,835 5,005 297 3,457 3,180 710 3,607 1.331 419 690 3,333 593 454 Cleaning and refuse Telephone and broadband Centre management fees Membership and licence fees Printing, postage and stationery Depreciation 5,050 467 544 232 1,844 1,872 52,824 19,096 Independent examiner's fee 612 52,824 19,708 5 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Trust during the year. 6 Employees The average monthly number of employees durlng the year was: 2024 Number 2023 Number Totsl 7 Taxation The charity 45 exempt frorn tax on income and gains falling within 5ertion 505 of the Taxes Act 1988 or section 2S2 of the Taxational Chargeable Gains Art 1992 to the extent that these are applied to its haritable objective5.
ISLAND OF PORTLAND HERITAGETRUST NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2024 8 Tanglble fixed assets Freehold buildings Computers total as at l April 2023 113,047 12.198 125.245 additions as at 31 March 2024 113,047 12.198 125,245 Depreclatlon and Impalmient as at l April 2023 73.960 11,785 85,745 depreciation charged in the year 1,761 83 as at 31 March 2024 75.721 11.868 87,589 Carrylng amount at 31 March 2023 39.087 413 39.500 at 31 March 2024 37,326 330 37,656 9 Debtors 2024 2023 Trade debtors due within one year 460 460 12
ISLAND OF PORTLAND HERITAGETRUST NOTESTOTHE FINANCIALSTATEMENTS Forthe Year Ended 31 March 2024 10 Credltors: amounts falllng due wlthln one year 2024 zozj Trade creditor5 405 iio Accruals and deferred income 2(K) 611 605 721 11 Analysi5 of net assets between funds 2024 2023 Fund balances at 31 March are represented by- Tangible assets 37.656 39,500 Net current a55etslliabilitiesl 83,945 103,756 121,601 143.256 12 Related party transartion5 There were no di5closable related party tran$3ctions during the year12023- none). 13