OpenCharities

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2024-03-31-accounts

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THE PORTAL ARTS SCIO

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

CHARITY NUMBER: SC042866

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THE PORTAL ARTS SCIO

CONTENTS

ONTENTS
Page
Charity information 1
Trustees’ Annual Report 2-10
Independent Examiner’s Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14-20

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Page 1

THE PORTAL ARTS SCIO

LEGAL AND ADMINISTRATIVE INFORMATION

Charity name The Portal Arts SCIO (Formerly Plantation Productions SCIO) Charity registration number SC042866 Trustees Principal office The Portal 978 Govan Road GLASGOW G51 3AJ Independent examiner T. Murphy & Company Chartered Accountants Cape House 59 Admiral Street GLASGOW G41 1HP

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

The Trustees present their Report and Financial Statements of the Charity for the accounting year ended 31[st ] March 2024.

TRUSTEES

The Trustees serving during the year and since the year end are detailed on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Portal Arts SCIO is a charitable organisation. It has charitable status under the Charities and Trustee Investment (Scotland) Act 2005. It was registered as a Scottish Charitable Incorporated Organisation (SCIO) with effect from 17[th ] January 2012.

Change of Name

During the previous financial year the Charity changed its name to “The Portal Arts SCIO”. This change of name was formally registered with OSCR on 22[nd ] June 2022.

Appointment of Trustees

As set out in the Constitution, Trustees are elected at the AGM.

Trustees Induction and Training

All new Trustees receive training on their role and responsibilities within the organisation.

Organisational Structure

The Board of Trustees administers the Charity. The Board meet regularly. A Project Manager is appointed by the Trustees to manage day-to-day operations of the Charity with endorsement from the Trustees.

Related Parties

The Portal Arts SCIO is a stand-alone Charity and has no relationship with third parties.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNNUAL REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024

(Contd..)

Risk Management

The Charity Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.

OBJECTIVES AND ACTIVITIES

The principal activities of the Charity is a Community Arts and Media Organisation based in the Greater Govan area of Glasgow, UK. It delivers creative participatory programmes and activity for the advancement of citizenship and community development. It provides a creative recreational facility and resources with the object of improving opportunities and conditions for people and families who reside in areas of multiple deprivations.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD...)

ACHIEVEMENTS & PERFORMANCE REVIEW

Why We Do What We Do

Our vision is of a more just society without huge swathes of poverty, inequality, and deprivation. Our mission is to help regenerate disadvantaged communities through creative participation. Our aims are to increase life chances of people facing disadvantage, to improve opportunities for families and communities and to increase the vibrancy of disadvantaged areas. Our values are creativity, inclusion, and opportunity for all.

Introduction

It’s been another full and fruitful year at The Portal Arts across the strands of our work. We have maintained and invested in our core services: Creative Steps, All in Media and Ambition for Media. We have developed new work in response to emerging needs in the community, initiating Govan Queer Space. We have progressed our social enterprise capabilities in line with our long-term sustainability strategy, working in partnership to produce the film Working Differently to international critical acclaim. Across the year we are proud to have worked directly with 328 people.

Community Venues

Much of our service delivery happens in our community hubs on Govan Road, which are maintained as hospitable, welcoming and productive venues:

We also deliver outreach work locally and throughout the city, as detailed below.

This year we reopened AIR Space, our Artist in Residence studio that required extensive repairs due to water damage. This space hosts two local artists and opened its doors to a Step Three ceramics class for the Creative Steps programme for the first time since the Covid-19 pandemic. Having three vibrant community hubs on Govan Road keeps the area bright and ensures that local people can access opportunities for creative participation.

Staff

The programme of work has been delivered with the support of 1 full time member of staff, 6 part time members of staff, 20 sessional workers and 8 volunteers. Our staff team has grown this year thanks to crucial funding, enabling us to meet the demands on our services.

In addition to our Creative Director, Media Access Officer and Creative Steps Coordinator, the Portal Manager vacancy was filled in July 2023. This eased the workload of the Creative Director and increased staff capacity to a more sustainable level, allowing us to expand the team further. In October we recruited a Film Maker to lead our six-month Production Assistant traineeship, with a focus on neurodiverse trainees. In November we recruited two part time assistants for six months to support the Creative Steps programme and community development in The Portal.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

ACHIEVEMENTS & PERFORMANCE REVIEW (Contd..)

Our thanks go to the sessional workers and volunteers who - along with our staff - share their experience, energy and expertise to make such a positive impact on our people and services.

Creative Steps to Positive Mental Health Programme

This is a three-step programme using creative participation to engage people with long term and enduring mental health issues, starting from place of treatment, into their local community then onto wider opportunities. Over the last 12 months, our activities have continued to respond to demand for in-person services. 89 people engaged with us - including 42 new referrals - across 316 group sessions, totalling 1,903 attendances.

Step 2 groups took part in creating and collaborating in 4 impressive window displays to mark the change of seasons and cheer passers-by. This year’s displays included our autumnal fairy land and winter Polar bear scene.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

ACHIEVEMENTS & PERFORMANCE REVIEW (Contd..)

Ambition for Media (AFM)

AFM is a youth-led media programme devised with local teens, enhancing a variety of skills from storytelling and character development to creative digital media competencies. This programme is supported by experienced youth workers and a freelance media specialist. These projects cover a significant range of skills and creativity to produce high quality content, which participants are proud to share. 11 young people (aged 13 – 16) took part in a variety of projects throughout the year:

All in Media (AIM)

AIM is tailored to work across all age groups delivering media skills and training through participatory filmmaking and multimedia projects with local people, community partners and statutory agencies.

The Portal Seniors Club worked on an exciting new radio play, The Last Fish Supper . The radio play was created produced / recorded in partnership with Sunny Govan Radio over the course of four months. The show was aired at the Seniors Christmas party and publicly on Sunny Govan radio on Christmas day.

Due to the ages of some members, and varying health conditions, moving towards singing, voice exercises, drama games and conversational activities has proved to be fun and invaluable for the participants.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

ACHIEVEMENTS & PERFORMANCE REVIEW (Contd..)

Govan Queer Space

This new pilot group has been developed in house by our Community Development Assistant. The group takes place at the Portal Arts every Tuesday from 6–8/9pm. It alternates weekly between two different events, Dinner and a Movie facilitated in partnership with the Small Trans Library and Govan Queer Group . Weekly attendance across the 12 weeks Jan – Mar has been between 15 and 35 people. Govan Queer Space is the first queer community space in Govan. It is in the process of becoming a regular feature, and more often we are seeing queer people attend who are local and surprised that it exists where it does. Both events are free and sober, which is distinct from other queer events in the city.

Partnership Working

We continue to develop strategic working partnerships with a wide number of Thriving Places community partners, mental health resources centres and wider networks, such as the SURF, Alliance for Action, The Princes Trust, NHS Scotland, Open Museums and many more.

Enterprise Development - Commissions

The Portal Studios secured its first commission through Screen Scotland to produce a short film about the importance of Neurodivergent people being employed and supported to work in the Screen Industry. This film has been created in co-production with Blazing Griffin, an independent Scottish Production Company, and heralds the beginning of many exciting opportunities for the coming years.

Working Differently film went live on Screen Scotland’s website, alongside a Good Practice Guide, and resources in September 2023, where it will be homed for the foreseeable future.

We hosted an Industry screening of the film in September 2023 where the film and resources were extremely well received. Since releasing the film, we have also held screenings and networking events for Working Differently with BAFTA Guru, the Glasgow Film Festival Industry Focus, and in-house with the BBC.

This led to us being selected to screen at ReelAbilities Film Festival in New York – the largest disabilities film festival in the world – in early April 2024. We are developing a proposal for Working Differently Phase 2, to take the film and contributors on a small but hugely important tour of Scotland.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

ACHIEVEMENTS & PERFORMANCE REVIEW (Contd..)

Glasgow Climate Change Hub

We are members of the Glasgow Climate Change Network, participating in network meetings and accessing training.

Training

Staff and trustees have accessed a range of training courses this year to refresh learning and increase team skillset. Courses included: Mental Health First Aid, Excel level 2, Emergency First Aid at Work.

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THE PORTAL ARTS SCIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

ACHIEVEMENTS & PERFORMANCE REVIEW (Contd…)

FINANCIAL REVIEW

The Charity had a deficit of £(44,324) for the year (£24,167 surplus for 2023) and has total accumulated reserves of £71,214 at the balance sheet date (£115,538 for 2023), of which £71,214 are held as unrestricted reserves (£75,641 for 2023).

It may be useful to provide an explanation for the reported annual deficit on Restricted projects of £39,897 shown in the Statement of Financial Activities (see page 12). The charity has recently undertaken various projects whose operation has lasted more than twelve months. For that reason the financial reporting of those projects has not been confined to a single set of annual financial statements, and instead has been spread over the charity’s accounts for the two years ended 31[st ] March 2023 & 2024.

The majority of income for those restricted projects was received in the March 2023 year and so resulted in a surplus being reported in that year of £39,897. Thereafter, a large portion of the associated expenditure was undertaken in the March 2024 year and so resulted in the deficit on restricted projects of £(39,897) being reported in this year’s accounts. Therefore, when the entire period of activity for those projects is considered all together then it can be seen from the foot of the Statement of Financial Activities in this year’s report that the overall financial position for such projects was a surplus/deficit position of £nil. In summary, those restricted projects were therefore fully self-financing over the two year period combined and did not have to be supported by any other funds being made available by the charity.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity’s Constitution requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:-

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THE PORTAL ARTS SCIO

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES (CONTD…)

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity’s Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Reserves Policy

It is the policy of the Charity to maintain unrestricted funds at a level to provide sufficient funds to cover management, administration and support costs. It is also the policy of the Charity to create and maintain a designated reserve to replace and update their audio-visual equipment.

Independent Examiner

, a partner in T Murphy & Company, Chartered Accountants was appointed as Independent examiner and the Trustees recommend that CA remains in office as Independent Examiner until further notice.

This report was approved by the Trustees on 19[th ] November, 2024 and signed on its behalf by

19[th] November, 2024

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Page 11

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THE PORTAL ARTS SCIO

I report on the accounts of the Charity for the year ended 31[st ] March 2024, which are set out on pages 10 to 19. These financial statements have been prepared in accordance with the accounting policies set out therein.

Respective Responsibilities of Trustees and Examiner

The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Charity Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1) (c) of the Act and to state whether particular matters have come to our attention.

Basis of Independent Examiner’s Statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention

have not been met, or

T MURPHY & COMPANY CHARTERED ACCOUNTANTS CAPE HOUSE 59 ADMIRAL STREET GLASGOW G41 1HP

19[th ] November, 2024

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Page 12

THE PORTAL ARTS SCIO

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] MARCH 2024

Notes
Income and endowments from:-
Donations and legacies
a) Grants
2(a)
b) Donations
2(b)
Charitable activities
3
Investments
4
Total
Expenditure on:-
Charitable activities
5-7
Total
Net (Deficit)/Surplus for year
Reconciliation of Funds
Total funds brought forward
Prior period adjustment
Interfund transfers
Total funds carried forward		 Notes Unrestricted Restricted
2024
Funds
Funds
Total
(

The notes on pages 14 to 20 form an integral part of these financial statements

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THE PORTAL ARTS SCIO

COMPANY NUMBER:- SC042866

BALANCE SHEET – 31[ST] MARCH 2024

FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Cash at bank and on hand
CREDITORS:Amounts falling due
within one year
NET CURRENT ASSETS
TOTAL NET ASSETS
THE FUNDS OF THE CHARITY
Restricted Income Funds
Unrestricted Funds
TOTAL CHARITY FUNDS		 NOTES
8
9
10
12
13		 2024
£
17,271
81,833
99,104
(27,890)
-
71,214		 £
-
71,214
£71,214
£71,214		 2023
£
16,481
114,932
131,413
( 23,347)
39,897
75,641		 £
7,472
108,066
£115,538		 £
7,472
108,066
£115,538

The financial statements were approved and authorised for issue by the Trustees on 19[th ] November, 2024, and signed on their behalf by

The notes on pages 14 to 20 form an integral part of these financial statements

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Page 14

THE PORTAL ARTS SCIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

1 ACCOUNTING POLICIES

1.1 Accounting Convention

The financial statements are prepared under the historical cost convention and in accordance with the Charities SORP: FRS102. The financial statements have further been prepared in accordance with applicable UK Accounting Standards and the Charities Accounts (Scotland) Regulations 2006. The principal accounting policies adopted in the preparation of the financial statements are set below.

1.2 Incoming Resources

Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods, or when the donor has imposed conditions which must be met before the Charity has unconditional entitlement.

Income from investments is included in the year in which it is receivable.

Grant income, included within income from charitable activities is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

1.3 Resources Expended

Expenditure is recognised on an accruals basis when a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Governance costs include those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements.

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

1 ACCOUNTING POLICIES (CONTD…)

1.4 Tangible Fixed Assets and Depreciation

Fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at rates calculated to write-off the cost less residual value of each asset over its expected useful life, as follows:-


d useful life, as follows:-
Office Equipment - 50% Straight Line Method
Computer Equipment - 50% Straight Line Method
Audio/Visual Equipment - 50% Straight Line Method
Furniture & Fixtures - 50% Straight Line Method

1.5 Charity Status

The Portal Arts SCIO is a charity established several years ago. On 17[th ] January 2012 it was registered as a Scottish Charitable Incorporated Organisation (SCIO). All assets and liabilities were transferred to the new organisation with effect from 1[st ] April 2012.

2 INCOME FROM DONATIONS AND LEGACIES

a) GRANT INCOME

The National Lottery – Community Fund
G.C.C. – Glasgow Community Fund
Henry Smith Charitable Trust
The Sean Connery Foundation
The Robertson Trust
The Corra Foundation (part – A)
SCVO – Capital Funding
Govan Community Project
The Corra Foundation (part – B)
Govan Participatory Fund
Bead ‘n’ Blether
NHS Link Project
b) DONATIONS
Donations
3
INCOME FROM CHARITABLE ACTIVITIES
Commissions
Room & Venue Hire
Project Income
Sundry Income (Employment Allowance)		 2024
£
77,317
61,108
23,500
20,732
15,500
-
-
-
-
-
-
-
198,157
2024
£
-
2024
£
8,111
-
-
4,625
12,736		 2023
£
51,866
76,287
23,500
4,268
15,500
18,926
14,449
10,000
2,839
2,000
1,500
552
221,687
2023
£
-
2023
£
51,696
1,910
-
3,754

57,360

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

4
INCOME FROM INVESTMENTS
Interest received
5
COSTS OF CHARITABLE ACTIVITIES
Salaries & Wages
Artistic & Filmmaking Freelancers
Project Costs
Rent & Rates
Heat & Light
Insurances
Telephone & Internet
Printing, Postage & Stationery
Website & I.T. Materials
Repairs & Cleaning
Depreciation
Bank Charges
Payroll Administration
Accountancy
Professional Fees
General Expenses
6
EMPLOYEE COSTS
Gross Salaries
Employer’s National Insurance
Employer’s Pension Contributions		 2024
£
742
2024
£
139,712
43,244
21,425
10,992
3,026
2,559
2,559
2,474
5,132
11,826
7,472
743
877
2,361
-
1,557
255,959
2024
£
125,174
10,266
4,272
139,712		 2023
£
242
2023
£
125,304
28,359
58,265
11,580
3,449
1,373
2,092
2,165
1,569
1,413
14,122
-
811
2,160
967
1,493
255,122
2023
£
111,568
9,842
3,894
125,304

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

6 EMPLOYEE COSTS (Contd...)

a) Number of Employees

The average monthly number of employees during the year were:
Managerial
Administration
Coordination
Project Leaders
Production Assistants		 2024
2
0
2
0
6
10		 2023
1
0
2
1
2
6

7 GOVERNANCE COSTS

Independent Examiner’s fee

----- Start of picture text -----
2024 2023
£ £
2,361 2,160
----- End of picture text -----

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

8 TANGIBLE FIXED ASSETS

9
10		 Office
Audio/Visual
Computer
Equipment
Equipment
Equipment
At Cost:-
£
£
£
As At 1stApril, 2023
5,992
25,346
29,682
Purchased in year
-
-
-
As At 31stMarch, 2024
5,992
25,346
29,682
Accumulated Depreciation:-
As At 1stApril, 2023
5,992
25,346
22,210
Provision for year
-
-
7,472
As At 31stMarch, 2024
5,992
25,346
29,682
NET BOOK VALUE
- 31-03-24
-
-
-
NET BOOK VALUE
- 31-03-23
-
-
7,472
DEBTORS
S.T.F. Payroll Account
Grant Debtors
CREDITORS: AMOUNTS FALLING DUE WIHTIN ONE YEAR
Accrued Charges
Deferred Income:-
The Sean Connery Foundation		 Office
Audio/Visual
Computer
Equipment
Equipment
Equipment		 Furniture
& Fixtures		 Total
£
62,772
-



£
£
£
5,992
25,346
29,682
-
-
-		 £
1,752
-
5,992
25,346
29,682		 1,752 62,772
5,992
25,346
22,210
-
-
7,472		 1,752
-		 55,300
7,472
5,992
25,346
29,682		 1,752 62,772
-
-
-		 - -
-
-
7,472		 - 7,472
2024
£
17,271
-
17,271
2024
£
2,890
25,000
27,890		 2023
£
11,555
4,926
16,481
2023
£
2,615
20,732
23,347

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

11 ANALYSIS OF NET FUNDS BETWEEN PROJECTS

Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
Designated Restricted
2024
2023
Funds
Funds
Funds
Total
Total
£
£
£
£
£
-
-
-
-
7,472
-
71,214
27,890
99,104
131,413
-
-
(27,890)
(27,890)
( 23,347)



-
71,214
-
71,214
115,538

12 RESTRICTED FUNDS

The National Lottery -
Community Fund
G.C.C. – Glasgow Community
Fund
The Robertson Trust
The Corra Foundation
NHS Link Project
The Sean Connery Foundation
Henry Smith Foundation		 1stApril
Fund
31stMarch
2023
Incoming
Outgoing
Transfers 2024
£
£
£
£
£
2
77,317
( 77,317)
-
2

-
61,108
( 61,108)
-
-
2,169
15,500
( 17,669)
-
-
14,228
-
( 14,228)
-
-
-
-
-
-
-

-
20,732
( 20,732)
-
-
23,500
23,500
(47,000)
-
-
39,899
198,157
(238,054)
-
2

Purpose of Restricted Funds

The restricted funds are used to finance those projects in respect of which funding has been awarded for specific purposes.

13 UNRESTRICTED FUND

a) General Fund
b) Designated Fund - 01
c) Designated Fund - 02		 1stApril
Inter Fund 31stMarch
2023
Incoming
Outgoing
Transfers 2024
£
£
£
£
£
641
13,478
(17,905)
3,786
-
10,000
-
-
-
10,000
65,000
-
-
(3,786)
61,214
75,641
13,478
(17,905)
-
71,214

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THE PORTAL ARTS SCIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024 (CONTD…)

13 UNRESTRICTED FUND (Contd…)

Purpose of General Fund

The General Fund represents the unrestricted funds which the Trustees are free to use in accordance with the charitable objectives.

Purpose of Designated Funds - 01

Equipment Renewal Fund

The Equipment Renewal Fund is an unrestricted but designated fund. The funds have been designated to cover the costs of new equipment as and when required.

Purpose of Designated Funds - 02

Charity Closure

In the event of the charity having to cease operations the Board of Trustees regard it as prudent to set aside a sum of money that will be necessary to cover essential closure costs, such as redundancy costs and running costs for a period of three months.

Transfers are made as and when required to and from the designated funds.

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THE PORTAL ARTS SCIO

The following pages do not form part of the statutory accounts.

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Page 21

THE PORTAL ARTS SCIO

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] MARCH 2024

2024
£
£
INCOME AND ENDOWMENTS
Donations and legacies
The National Lottery – Community Fund
77,317
G.C.C. – Glasgow Community Fund
61,108
Henry Smith Charitable Trust
23,500
The Sean Connery Foundation
20,732
The Robertson Trust
15,500
The Corra Foundation (part – A)
-
SCVO – Capital Funding
-
Govan Community Project
-
The Corra Foundation (part – B)
-
Govan Participatory Fund
-
Bead ‘n’ Blether
-
NHS Link Project
-
198,157
Donations (see note 2b)
-
-
Charitable Activities
(see note 3)
12,736
12,736
Investment Income
Bank Interest (see note 4)
742
742
Total Income
211,635
Total Expenditure (see next page)
(255,959)
Net (Deficit)/Surplus For Year
£( 44,324)		 2023
£
51,866
76,287
23,500
4,268
15,500
18,926
14,449
10,000
2,839
2,000
1,500
552
-
57,360
242
£		 £
221,687
-
57,360
242
279,289
(255,122)
24,167

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THE PORTAL ARTS SCIO

DETAILED SCHEDULE OF EXPENDITURE FOR THE YEAR ENDED 31[ST] MARCH 2024

EXPENDITURE ON:
2024
£
Charitable activities
Staff Costs
Salaries & Wages
125,174
Social security costs
10,266
Staff Pension Contributions
4,272
Project and Activities Costs
Technical Support
43,244
Project Costs
Youth Worker Labour
Venue Hire
Premises Costs
Rent & Rates
21,425
-
-
10,992
Heat & Light
3,026
Insurance
Administrative Costs
2,559
Telephone & Internet
2,559
Printing, Postage & Stationery
2,474
Website & I.T. Materials
5,132
Repairs & Cleaning
11,826
Depreciation
7,472
Bank Charges
743
Payroll Administration
877
Professional fees
-
General Expenses
Governance Costs
1,557
Independent Examination Fee
TOTAL EXPENDITURE		 2024 £

139,712
64,669
16,577
32,640
2,361
£255,959		 2023
£
111,568
9,842
3,894
28,359
58,265
-
-
11,580
3,449
1,373
2,092
2,165
1,569
1,413
14,122
-
811
967
1,493		 2023 £
125,304
86,624
16,402
24,632
2,160
£255,122