DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Company No. 3447823
Registered Charity No. 1069245
PORTICUS UK
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Contents
Page
Legal and AdminislratNe InfO￿allOn
Trustees and Directors. Report
Statement of Directors, Responsibilities
Independent Auditorfs Report
10
Statement of Financial ktivibes
14
Balance Sh*t
15
Notes to the Financial Statements
16

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Legal and Administrative Infomialion
Directorn (Truste•s)
M.C.L. Brenninkmeyer
D.R. Brenninkmeijer
L.W.M Brenninkmeijer
J.D. Drury
Rfjgistsr￿ orric•
Michelin House, Fourth Floor
81 Fulham Road
London
6RD
Audltor
Ernst & Young LLP
1 More London Place
London
SE1 2AF
Bankers
HSBC PIC
16 King Street
Covent Garden
London
WC2E 8JF

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report
The Directors present their report together with the financial 5taternenls for the year ended 31
December 2021.
Reference and Administration Inforniation
The present Directors and any Director5 who served during the year are given on page 8.
The Directors of the charitable company (the Charity) are its trustees for the purp)ses of charity law
and throughout this report are collectively referred to as the Trustee5.
Legal and administrative information set out on page 1 forms part of this report.
Stru¢turo, Govorn•n¢o and Managemont
The full name of the Charity is Port￿U$ UK, which was in¢orporated on 10 October 1997 and
commenced business on 1 January 1999. On 2 October 1997, the company was authorised to
exclude the word 'Limiled" in its lffje. It is..
A company limited by guarantee and not having a share capital, number 3447823.
A charity registered in England and Wales, number 1069245.
The Charity's goveming document is its Artides ofAssoeiation dated 10 October 1997, as amended
by Special Resolution dated 18 April 2008, 11 December 2012, and 13 March 2014.
The Charity 15 governed by o Board of Trustees, who 05 charty trustees have Control of the Charity
and its propety and fvnds. New Trustees shall be appointed by the Members subject to the
appropriate nob'ce and particulars given lo the Charity, and approved by existing Trustees.
The Trustees may at any time ec￿0P1 any person duly qualthed to be appointed as a Trustee to fill
a vacancy in their number or as an additional Trustee, but a COwOPted Trustee holds office only until
the nextAGM.
I newty appointed Trustees receive a copy of the Charity Commission guidelines outlining the role
of a trustee. Regular updates on charity governance and issues relating to the UK charity sector
are sent to all Trustees. Training opportunities are offered when appropriate.
The Trustees meet lo discuss policy and operational issues ￿lce per year. In addition there are
monthly meetings betsveen staff and the chair.

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
Objectiv•s and Activiti•s
The objectNe$ of the company are to advance the education of Charity trustees and rnanagers in
charity law and administration and to improve the management of charities and to help charities in
the most effective use of their resources for purposes which are exdusivety charitable including (but
without limib'ng the foregoing)..
making grants and guaranteeing bank or other loans made lo charities-
handling and eomputerisation of apF4ieations for grants to Corporate and business donors
and grant-making trusts and advising charitie5 on making a ￿se for funds.,
undertaking of investigations of appeals on behalf of donors and research and feasibility
Studies into a￿a$ of charitable activity and potential charitable a¢tivity',
iv.
advising charity trustees on matters of policy, including preparation of business plans, and
financial control systems, organisational development, monitoring and evaluation, publication
and marketing",
running seminars. exhibitions and conferences directed towards improvement of the
managerial effectiveness of charittes.
The objects'ves for the year 2021 were to continue providing advice and support to charities,
corporate and business donors and grant making trusts.
Achlevements and Perforniance
The achievements during 2021 are summarised as follows..
Assessment and investigab've work for 116 grant appli¢ations1395 in 2020)-
Involved in partnerships to build the capacity of grant-hdders and other tharilies through
tailored consultancy support and practical workshops in Criminal Justi￿, Education and
Chikl Protection.
Collaboration with other fvnders to Share sector knwledge.
A fvrther focus on Northern Ireland was developed with an evaluation of a community
engagement grant scheme and a participative ¢onfli¢t analysis and programme proposal.
Key learnings have been shared with the se¢tor.
Development of and adoption of safeguarding requirements for all grant holders was
continued.
Raising awareness of the issues of child protection and educats'on exclusion with funders
and policy makers.

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
In the opinion of the Directors, the aims and objectives of the Charity have been xhieved during
the year.
Public benefrt
In furtherance of its objects, the Directors, as charty Iru5tees have complied with the duty in 5.4 of
the Charitie5 Act 2011 to have due regard to the guidance conlained in the Charity Commission's
published general and relevant SUI￿Sector guidance concerning the operation of the public benefit
requirement under the ACL
The public benefit provided by Portl¢Us UK in 2021 is detsiled below..
Stat•m•nt of ublic b•n•fit
rovid
Portieus UK in 2021
Charitable objeclivo
I Public benefit provided in 2021
To advanco tho education of charity Irusteos and managors in Charity Law and
Administration.
Improving the management of
Charities.
Support and advi￿ were provided to..
Two farnily foundations
Kulika Charitable Trust 1981
St Stephen's Green Charitable Trust
Advising charty trustees on
matters of policy, including
preparation of business plans and
financial control systems,
organisalional developmen(
monitoring and evaluation. impact
publication and marketing.
Transits'oning to a programmati¢ way of working,
looking at social challenges and systems change,
has meant the grants advised on are signifi¢andy
larger and ¢lustered together, with mappings and
evaluation built in.
An Evidence and Gap Map and Guidebook on
instilulional
$ponse$
to
Child
abuse,
commissioned by Porticus and carried out by Giving
Evidence,
was published, and shared
in
¢onference$, with impli¢at'ons being expbred with a
range of Stakeholders.
A Sy$temati¢ Review and Eviden￿ Gap Map on
Inter￿lIgiouS Diabgue and Ecumenism studie$ was
also commissioned. to understand and synlhesise
the effectiveness of these.
A conferen¢e for Trustees and various stakeholders
on monitoring. evaluabon and impa¢t was hell in
partnership with 3 charities.
Partnerships were maintained with Social Finance.
the Institute for Voluntary Actson Research and Pr
Bono Economics lo build the capacity of charities
through tailored consuttancy support and practscal
workshops.

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
Public b•n•frt Icontinu•dl
Charitable objective
Public benefit provided in 2021
To help eharllles In the mosl effectlve use of thelr resources for purpos06 whlch are I
excluslvely charltable Includlng (but wlthout Ilmltlng the foregolng):
Advising charity trustees on matters Advice was given on charty gOVernar￿ - including I
of policy (continued)
the provision of support to a group setting up a new
Charitab￿ entity,. the key aspects of organisational
due diligence., and the funding landscape in general.
Team memters acted as a sounding board on these
topics for stakeholders of the new initiatives.
Safeguarding policy development and raising
safeguarding due diligence standards for fvnding
entities was undertaken. This included convening I
meetings and training sessions lo build the capacity
of Designated Safeguarding Officers. Through I
partI￿patIng in various funder safeguarding groups. I
knowledge was developed and shared with the wider I
neIN￿rk of those funded.
The concept and knovAedge of Contextuall
Safeguarding was shared and promoted in new I
areas and with European netsvorks, where it can be I
applied.
Advice wa5 given to a number of international j
5POrting and failh-based organisations seeking to j
implement systematic change around the prolects'on
of
children
across
complex
organisalions
mults'<ounty I
Active participation in the Steering committees of
university research projects in area5 of study such as
child protection within institutional settings.
Participation in funder knowledge sharing events on
other topics- including Criminal Justiee,. Education
Exclusion- Community Development and Church I
and Faith.
Raising awareness amngst voluntary and slatulory I
sector organisations, on research report findings and I
the production of a free mapping toc4, developed for I
use by and for those working in or alongside the I
Criminal Justice sector.
Consultancy advice, guidance and netsvorking I
introductions provided to a therapeutic support I
setvice for survivors of domestic abuse regarding I
Charitab￿ vehic￿, structure, and governance.

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
Charitable objective
Public benefit provided in 2021
To help charltle8 In the most effectlve u8e of thelr resources for purpo8e8 whlch are
exclu8lvely charltable Including (but without limitlng the foregolngl:
Advising charity trustees on matters
of policy {continued)
Advice was given to one charity on the winding up
pr￿55,
including due diligence and risk
assessments on its final grant payment.
Consultancy advice, guidance and ne￿OrkIng
introductions were provided to a small charity, to
strengthen
hom&hosting
ne￿Ork for
beneficiaries ￿eIng abusive situations. Inlrodvctions
were made to larger charities with greater
experience in this field. willing lo share their
knowledge and expertise.
Handling and compulerisation of
applications for grants lo corporate
and business donors and grant
making trusts and advising charities
on making a case for funds.
116 grant applications were assessed in 2021 which
resulted in the award of 72 grants.
(2020.. 395 grant appliGations assgssgd,. IOT grants
awardgd).
Undertaking of investigations of
appeals on behalf of donors and
research and feasibility studies into
areas of charitable activty and
polenb'al chafitable activity.
Invesligats'ons of appea15 on behalf of individual 4
donors were undertaken which resulted in 4
donats'ons.
(2020.. Appeals w&m investigated on behalf of 8
individual donors which rgsulted in 44 donations)
Running seminars, exhibrtions and
conferences
directed towards
improvement of the managerial
effectiveness of charities.
Partner convenings were hosted as part of the
Education IntegralED programme, Criminal Justi¢e
programme, Posib've Pathways and Pea¢ebuilding
programme.
Making grants and guaranteeing
bank or other loans made to
charits'e5.
No activity

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
Financial R•view
During the year income amounting to £1,064,309 12020.. £1,043,457) was received, all of which
represented unrestncted income. The fvnds have been applied to the objectives of the Charity. The
Directors expect the general level of activity to continue throughout the coming year.
The overall result for the year was a break even, with overall fund balanees remaining at a surplu$
of £80,211.
Rl8k Management
The Director5 hove examined the major risks which the Charity faces and ¢onfim that $y31ems
have been established tr) manage those risks. For example, the risk register was reviewed and
updated for changes in risk settings. Management has assessed the impact of the COVID-19
pandemic on the operations and do not consider it to be a threaL
R•s•rv•s Poli¢y
The Directors have considered the reserves of the Charity and are satisfied that, given their own
close involvement and continued financial support from Porh"cus Amsterdam C.V., the charity
reserves at the end ol the year can be kept at an amount equNalent to one month's unrestn.cled
expenditure.
Futur• Plans
Porbcus UK will continue to carry out its principal activities of consultancy, grant assessment and
management and advisory services to chanties, including training. This has not been significanlty
impacted by the COVID-19 pandemic.
Strateg1¢ rnport
The company has taken advantage of the exemption under s414B of the Companies Act not to
prepare a Strategic Report.
Golng concgm
No material uncertainties that cast Signif￿an1 doubt about the ability of the company to continue as
a going concern have ￿en idenlrfied by the directors. The Directors are also of the view that
COMth19 does not impact the Charity's ability to continue as a going concern. Further, Porticus
Amsterdam CV Ithe'parent I through 8 letter of financial support has confirmed that if required they
will assist the company in meeting their liabilities as and when they fall due, but onty lo the extent
that money is not otherwise available to meet such liabilities. The parent has the abilty to provide
such support and will provide this support to the company, to the extent outlined above, for a period
of 12 months from the date of approval of the company's balance sheeL

DotJJSv4n En¥okyo ID." 8C8B7B8E4DF2488&ADE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Trustees and Directors, report (continued)
Directord
The d1￿ctorS who served the company during the year We￿ as follows..
M.C.L. Brenninkmeyer
D.R. Brenninkmeijer
L.W.M Brenninkmeijer
C.F.S. Forder Iresigned 23 June 20221
J.D. Drury
Statgmgnt •$ to Disdosuro of Inforniation to tho Auditor
So far as ea¢h person who was a di￿¢tOr at the date of approving thi$ ￿POrt is aware, the￿ is no
relevant audit infomiation, being information needed by the auditor in connection wf(h preparing ils
report, of which the auditor is unaware. Having made enquiries of fellow directors and the
company's auditor, each director has taken all the steps that helshe is obliged to take as a director
in order to make himselflherself aware of any relevant audit information and to establish that the
auditor is aware of that information.
The company has taken advantage of the small company exempth'on in preparing the Directors,
reporL
By Order of the Board
FE%F53EA1(E425.
.C.L. Brennlnkmeyer
Director
5 August 2022

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Company No.. 3447823
Registered Charity No: 1(￿9245
Statement of Trustees and Directors, ResponsibilRtRes
The directors are responsible for preparing the Trustees and Directors, Report and the financial
statements in accordance with applicable law and regulations.
Company law requires the director5 to prepare financial stalemenls for each financial year. Under
that law the directors have elected to prepare the financial statements in accordance with United
ngdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and
applicable lawl including FRS102. Under company law the directors must not approve the financial
statements unless they are sab'sfied that they give a true and fair view of the slate of affairs of the
company and of the profit or bss of the company for that period.
In preparing these finan¢ial statements, the directors are ￿qUI￿d to=
$&1oct suitable a¢¢ounling policies and than appty thom Consistent￿.,
make judgments and estimate5 that are reasonable and prudent.,
state whether applicable UKAccounting Standards have been followed, subjectto any material
departures disclosed and explained in the financial statements., and
The directors are responsible for keeping proper accounting records that are sufficient to show and
explain the company's transacb'ons and disclose wrth reasonable accuracy at any lime the financial
p(Isilion of the company and enable them to ensure that the financial statement5 compty with the
Companies Act 2006. They are also responsible for safeguarding the assets of the ￿rnPany and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Independent auditor's report
to the member of PortiCU8 UK
Opinion
We have audited the financial statements of Porticus UK {"charitable company.) for the year ended
31 December 2021 which comprise Statement of Financial Activities, the Summary Income and
Expenditure Account, the Balance Sheet and the related notes 1 10 15, including a summary of
significant accounting policies. The financial reporbng framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generalty Accepted Accounting Practice), including FRS 102 "The Financial Reporting standard
applicable in the UK and Republic of Ireland..
In our opinion the financial statements..
give a true and fair view of the stste of the charitatle ￿MpanY'S affairs as al 31 December
2021 and of its incoming resources and application of resources, including its income and
expenditure, for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.. and
have been prepared in accordan￿ with the requirements of the CoMpan￿S Act 20C6.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UK) IISAS IUKII
and appl'cable law. Our responsibiif(ies under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report below. We a
independent ofthe charitable company in accordance with the ethical requirements that are relevant
to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. 8nd we
have fulfilled our other ethul responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectivety, may cast significant doubt on the charitable
company's ability to continue as a going concem for a period of tsvelve months from when the
financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concem are
described in the relevant secb'ons of this report. However, because not all future events or
conditions can te predicted, this statement is not a guarantee as to the trustee's ability to continue
as a going concem.
10

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Independent auditor's report (continued)
to the member of PortiCU8 UK
Other infomiation
The other infoThnalion comprises the infomialion included in the Report and Financial Statements.
other than the financial statements and our auditor's ￿port thereon. The trustees are responsible
for the other information contained in the trustees and directors, reporL
Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicilly staled in this report, we do not express any fomi of assurance conclusion
thereon.
Our responsibility 1$ to ￿ad the other information and, in doing so, consider whether the other
inforrnalkJn is materially incon51Stenl with the financial statements or our knowledge obtained in the
audit or otherwise appears to be materially mi55tated. If we identify such material inconsistencies
or apparent material misstalemenls, we are required lo determine whether this gives rise to a
material misstatement in the financial statements themselves. If, based on the work we have
perfomed, we conclude that there is a material misstatement of the other informab'on, we are
required to report that fael.
We have nothing to report in this regard.
Opinion on othor mattor prescribed by the Companies A¢t 21)06
In our opinion. based on the work undertaken in the course of the audit..
the information given in the tfUStees' report, which includes the directors, report prepared for
the purpose of company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements., and
The trustees and dI￿torS, report included within the trustees, report have been prepared in
accordance with applicable legal requirements
Matters on which we arn required to report by exception
In light of the knowledge and understanding of the charitable company and its environment obtained
in the course ofthe audit. we have identified no material misstatements in the trustees and directors,
report induded within the trustees. report.
We have nothing to report in respect of the following matters where the Companies Act 20C6
requires us lo report to you if, in our opinKJn.'
adequate accounting record5 have not been kept or returns adequate for our audit have not
been received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and retums," or
certain disdosures of trustees, remuneration specified by law are not made.. or
we have not receNed all the infonnalion and explanations we require for our audit., or
the trustees were not entiued to prepare the financral statements in accordance wtih the
small companies. regime and take advantage of the small companies. exempb'on in preparing
the Strategic ReporL

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Independent auditor's report (continued)
to the member of PortiCU8 UK
Responsibilities of trustoes
As explained more fully in the trustees and directors. responsibilities statement sel out on page 9.
the trustees (who are also the directors of the charitable company for the purposes of company lawl
are responsible for the preparation of the financial statements and for being satisfied that give
true and fair view, and for such internal control as the trustees detemiine is necessary to enable
the preparation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, the trustees are responsiL4e for assessing the charitable
company's ability lo continue as a going concern, disclosing, as applicable, mallers related to going
concern and using the going concem basis of accounting unless management erther intends to
liquidate the charitable company or lo cease operations, or has no realistic alteTnats've but to do so.
Auditor'5 responsibilities for the audit of the financial statements
Our objectNes are to obtain reasonable assurance about whether the financial statements as
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonabb assurance is a high level of assurance. but is not a
guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individualty or in the aggregate. they could reasonably be expected lo influence the
economic decisions of users taken on the basis of these financial statements.
Explanation as to what extent the audit was considered capable of detecting irregularities.
Including fraud
IrTegularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect irregularities, including
fraud. The risk of not detecting a material misstatement due lo fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate con￿alMent by, for example.
forgery or intentional misrepresenlation5, or through collusion. The extent to which our Prc￿edureS
are capable of detecting irregularities, including fraud is detailed below. However, the primary
responsibility for the prevention and detection of fraud rests with both those charged with
governance of the entity and management.
È obtained an understanding of the legal and regulatory frameworks that a￿ applicable to
the charitable company and determined that the most significant are those that relate lo the
reporting framework (United lfjngdom Accounting Standards induding FRS 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally
Accepted Accounting Practice), the Statement of Recommended Prath"ce for Charities, the
Companies Aet 2006, the Charities Act 2011 and relevant health and safety, data and tax laws
and regulations.
We understood how the ¢harftable ¢ompany 1$ complylng with those frameworks by making
enquiries of management and those responsible for legal and ¢omplian¢e Procedu￿$.
¢orroboraled our enquiries through our ￿VIeW of board minutes as well a$ considerab'on of the
results of our audit Pro¢edu￿ across the ¢haritable ￿MpanY and we did not idenlfy any
contradictory evidence.
assessed the susceptibilty of the charitable CA)mpany's financial statements to material
misstatement, including how fraud might occur by meeting with management to understand
their risk assessment process and how these risks a￿ being mitigated. We also ¢on$idered
perfoman¢e targets and their influence on efforts made by management to manage
expenditure. We also ￿vieWed ¢orresponden¢e with relevant authoritses.
12

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Independent auditor's report (continued)
to the member of PortiCU8 UK
Auditorfs responsibilities for the audit of the financial statoments (continued)
Explanatlon as to what extent the audft was considered capable of dotecting Inwularities.
Including fraud (continued)
Based on this understanding we designed our audit procedures lo identify noncompliance with
such laws and regulations. Our prO￿dureS involved taloring our audit procedures around
expenditure leskn'ng lo address the nsk of management manipulation of expenditure. We tested
specific transactions backing lo source documentation or independent confirmation. ensuring
appropriate authorisation of the transactDns.
A fvrther description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at https'.Ilww.frc.org.uklauditorsresponsibilities. This
description forms part of our auditorfs report.
Use of our report
This report is made solely to the charrtable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might slate to the charitable company's members those matters we are required lo slate to them in
an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept
or assume responsibility lo anyone other
ny and the company's members as a body.
for our audit work. for this report, or for
ave formed.
eop
iods we
Ea •i(y-wA LLF
Loulse Pennell Isenlor stslutory auditor)
for and on behalf of Ernst & Youn9 LLP, Slatulory Auditor
London
Date.. 10 August, 2022
13

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Porticus UK
Statement of Financial Activities
(Includlng an Income and Expendlture Account)
for the year ended 31 December 2021
Unrestricted
Funds
2021
Total
Funds
2021
Total
Funds
2020
INCOME AND ENDOWMENTS
FROM
Charitable acts'vities
Other interest receivable
TOTAL INCOME
1,064.235
74
1,064.309
1,064,235
74
1.064,309
1,043,451
1,043,457
EXPENDITURE ON:
Charitable aCtivit￿s..
Consultancy
other interest payable
TOTAL EXPENDrruRE
1,064.244
65
1064 309
1,064,244
65
1,064,309
1,043,401
56
1043 457
NET MOVEMENT IN FUNDS
TOTAL FUNDS AT 1 JANUARY
80.211
80,211
80,211
TOTAL FUNDS AT 310ECEMBER
80.211
80,211
80,211
The statement of financial activities indudes all gains and losses recognised in the year.
l in¢ome and expenditure related to continuing aelivities. The Charity has neither dis¢ontinued
any operations nor acquired new operations during the year.
The accompanying notes are an integral part of this Statement of Financial Activities.
14

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Porticus UK
Balance sheet
at 31 December 2021
2021
2020
Fixed Assets
Tangible fixed assets
5,539
15,633
Currnnt Ass•ts
Debtors
Cash at bank and in hand
Total Current Assets
179,541
103,570
197,474
134,158
CredFtors: amounts falllng due
within one year
Other creditors
122,802
69,580
Net Current Assets
74,672
64,578
Not Ass•ts
80,211
80,211
The funds of the ch•rlty:
Unr•strlcted funds:
Genera fund
80,211
80,211
Total Charlty Funds
11
80.211
80,211
These financial statements have been prepared in accordance wth the special provisions
appliGable to ¢ompanies subject to the small company regime.
The financial statements We￿ approved by the DI￿¢torS on 5 August 2022 and were signed on
their behalf by..
DoOuSbJn￿ty'.
JWA¢P¢12TCI
M.C.L. Brennlnkmeyer
D1￿Clor
Director
The accompanying notes form an integral part of this balance sheet.
15

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements
for the yoar ended 31 Decombor 2021
Company Status
Po￿.cuS UK (the 'company') is a company limited by guarantee (company no.. 34478231 and
not having a share capital. Its registration numÈer as a charity is 1069245. The address of
its registered office is 4th Floor Michelin House, 81 Fulham Road, London SW3 6RD.
Accounting Polici88
The prinapal accounting policies are summarised bebw. They have all been applied
consistently throughout the year.
la) Basis of preparation
The financial Statements of Porticus UK have been prepared on a going concem ba51S
and in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordan
with Financial Reporting Standard applicable in the UK and Republic of Ireland
(Charities SORP IFRS 10211 and Update Bulletin 1, the Financial Reporting Standard
applicab￿ in the UK and Republic of Ireland IFRS 102) and the Companies Ael 2006.
Porticu5 UK mee15 the defin￿On of publc benefft entity under FRS 102.
Ib) Going concern
No material uncertainties that cast significant doubt about the ability of the company
to continue as a going concern have ￿en identified by the directors. The Directors
are also of the view that cov1[￿19 does not impact the Charity's ability to continue as
a going concem. Further, Porticus Amsterdam CV (the "parenfl through a letter of
financial support has confirmed that if required they will assist the company in meeting
their liabilities as and when they fall due, but onty lo the extent that money is not
otherwise available to meet such liabiif(ies. The parent has the abilty to provide such
support and will provide this support to the company. to the extent oudined above, for
a peri¢)a of 12 months trom the dale of approval of the company's balance sheet.
Icl Cash fknv statement
The company has taken advantage of the exemption in FRS102 from the requirement
to produce a cash flow statement on the grounds that it Is a small company.
Id) Income
All income 1$ accounted for on a receivable basis and exdusrve of Value Added Tax.
le) Other interest receivab
Other interest recewable is accounted for when receivable and the amount can be
measured reliably by the company.
lfj Expenditure and irrecoveratle VAT
Resources expended are included in the Statement of Financial Activities on an
accrual basis inclusive of any VAT which cannot be recovered. They are recognised
vthen there is a ￿gaI or constructNe obligation to pay for expenditure.
16

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements (continued)
for the yoar ended 31 Decombor 2021
Accountlng Pollcle8 (Contlnuod)
Ig) Allocation of expenditure
Expenditure is allocated under functional headings on a direct cost basis. ￿ere
expendibjre is shared behveen moTe than one fvnctional heading then costs are
allocated according lo space occupied per staff numbers or lime spent.
(h) Govemance costs
Govemance costs indude those costs of governance arrangements whith relate to
the general running of the trust which allows the trust to OFerate and to generate the
information required for public accountability.
Restricted fund$
Restricted fvnds are used for specific purposes as laid down by the donor. Expenditure
which meets these criteria is identffied to the fund.
(J'l
Unrestricted funds
Unrestricted funds are income received or generated for the objects of the company
without specffied purposes and are available as unrestricted funds.
Ik} Fixed assets and depreciation
Fixed assets are staled at COSt or valuation less accumulated depreciation.
Depreciation is provided at the following rates which aim to write off the cost of the
assets over their expected lives..
Office equipment- 33'AYts Straight line
Cash and cash equNalents
Cash and cash equwalents in the balance sheet comprise eash at banks and in hand
and short temi deposits with an Or￿l￿al maturity date of three months or less.
Im) Short temi debtors and creditors
Debtors and creditors with no stated interest rale and receivable or payable within one
year are recorded at Iransactson price. Any losses arising from impairment are
recognised in the income statement in other operating expenses.
Inl Pension costs
Contributions to defined contribution schemes are recognised in the Statement of
Financial Activitie5 in the period which they become payable.
lol Employee benefits
Short term benefrt5, induding holiday pay and other similar nor￿M0netary teneffits a
cognised as an expense in the period in which the Serv￿ 15 received.
(pl Foreign cUrrenC￿S
Transactions in foreign currencies are recorded at the rate ruling at the date of the
transaction. Monetary assets and liabilities denominated in foreign currencies are
retranslated at the rate of exchange ruling at the balance sheet date. All drfferences
are taken to the profit and loss account.
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DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements
for the yoar ended 31 Decombor 2021
Accountlng Pollcle8 (Contlnuod)
Iql Financial instruments
Financial assets and liabilities hekl by the company are qualrfied as basic financial
instruments. Basic Financial instruments are initially recognised al transaction values
and subsequenlty measured al settlement values.
Analysis of Expenditure on Charitable Activities
2021
2020
Activities undertaken directly
Support costs (Note 41
965,216
99,028
1.C64.244
953,179
90,222
1,043.401
Anaty818 of Support Costs
2021
2020
Governan¢e
99,028
99,028
90,222
90.222
Anatysis of Staff Costs
2021
2020
Salaries and wages
Social security costs
Pension costs
429,941
44,955
38,897
513,793
410,111
43,235
58,191
511,537
As indicated above, the pension cost charges for the yearwere £38,897 {2020.' £58,191). No
pension cos15 We￿ accruing or prepaid at 31 December 2021 (2020.. £Nil).
Pension costs paid for empbyees eaming akove £60,000 totalled £12.64012020'. £37,745).
18

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements
for the yoar ended 31 Decombor 2021
Anaty818 of Staff Costs (coThllnued)
The number of employees whose emoluments exceeded £60,000 was:
2021
2020
£ 60,001 - £ 70,000
£ 80,001- £ 90,000
Their retirement benefrts are accruing under Money Purchase Schemes.
The average number of staff employed during the year was nine12020-. nine). The full-time
equivalent number for the year was eight12020'. eighti.
Tanglble Flxed Assats
Offic8
Equipment
Cost"
At 1 January 2021
Additions
At 31 December 2021
36,920
38,619
Depreciation
At 1 January 2021
Charge for the year
Al 31 December 2021
21,287
33,080
Net book value..
At 31 De*mber 2021
At 1 January 2021
15,633
Debtors
2021
2020
Amounts owed by group undertakings
Prepayments and other debtors
VAT receivable
139,235
6,058
34,248
179 541
54.433
13,206
35,931
103 570
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DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements
for the yoar ended 31 Decombor 2021
Crodltorn
2021
2020
Amounts owed to group undertakings
Trade creditors
Acctuals and other creditors
932
32,678
89,192
122,802
15,497
19.947
34.136
69,580
Anatysls of Net Assets betweon Funds
Unrestrict8d
2021
2020
Tangible fixed assets
5,539
5,539
15,633
Current Assets
Debtors
Cash at bank and in hand
179,541
17,933
179,541
17,933
103,570
30,588
Credltors
Amounts falling due wthin one year
Net current assets
Total Assets less Current Liabilities
122,802
74.672
80.211
122,802
74,672
80,211
69,580
64.578
80,211
10. Net movement in funds 18 Stated after charying
2021
2020
Depreciation of owned fixed assets
Audit fee
11,793
10,500
12,361
7,200
11. Ststgmont of Funds
2020
Income
Expenditure
2021
Un￿StrICted
80,211
1,064,309
1,064,309
80,211
11 Dlroctorn
The ￿quI￿rnent to di$dose d1￿ctOrS. remuneration in the finan¢ial statements of a small
¢ompany was repealed by Statutory Instrument 2015 No. 980. The directors do not Consider
there have been any transactions which have 'not been ¢on¢luded under nomial market
¢ondltions' In a¢¢ordan¢e with FRS 102 Iparagraph 1AC3.351.

DocuSKJn Envelcye ID". 8C8B7B8E4DF2488WE¥102C2C9F220
Porticus UK
Notes to the financial statements (continued)
for the yoar ended 31 Decombor 2021
13. Capital Commitments
There were no caprtal commitments at 31 December 2021 (2020.. £Nill.
1& Related Party Transactions
COFR4 G.B. Limited, a related party by virtue of one or more cornr￿￿ directors, invoiced
the company £224,575 {2020.' £169,961) for rental, faclities and other expenses of the office.
The amount owed by the company at the Balance Sheet date was £932 (2020.. £Nill. Fees
of £4,700 were invoiced by COFFiA G.B. Limited for payroll and related services during the
year (2020.. £5,050}. Accounting services are provided by COFRA G.B. Limited at no cost.
The company recewed income of £1,064,235 (2020.. £1,043,451) from Porticus Amsterdam
C.V., its sole member, including deferred income of £Nil 12020= £15,497). There was an
amount of £139,235 12020.. £35,534) owed to the company at the Balance Sheet date in
relation lo an invoice issued al the year end.
Due to the restructu￿ of the ulb'mate pa￿￿1 undertaking on 15 February 2021, there are no
related party transactions for Fairrnark Sarl in the current year. Interest of £6 wa5 received
from, and interest of £56 was paid to Faimiark Sarl during the prior year and there was a
balance of£18,899 owed to the company at 31 De￿mber 2020 from Faimiark Sad.
1& Ultimate parent undertaking
The Company's ultimate parent undertaking is Stiftung Constanter, a Swiss based foundation.
The wmpany's immediate parent undertaking is Porticus Amsterdam C.V., a limited
partnership registered in the Netherlands.
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