COMPANY REGISTRATION NUAIBER: N1621790
CHARITY REGISTRATION NUMBER: NIC100148
Portaferry and Strangford Trust Limited
Company Limlted by Guaranlee
Unaudited Financial Statements
31 December 2020
BQGAN ACQOU_NTAN.CY LIMITED
Chartered accounlanls
Sketrick House
Jubilee Road
Nevrtownarcls
Co Down
BT23 4YH

Portaferry and Slrangford Trust Llmlted
Company Llmited by Guarantee
Financial Statements
Year ended 31 December 2020
Page
Trustees, annual report {incorporating the directorfs report)
Independenl examinerfs report to Ihe trustees
Stalemenl of financial aciivilies (including income and
expenditure accounl)
Slatemenl of financial posilion
Statement of cash flows
Noles to the financial statements
10

Portaferry and Slrangford Trust Llmlted
Company Llmited by Guarantee
Trusiees. Annual Report (Incorporatlng the Dlrector's Report)
Year ended 31 December 2020
The Iruslees. who are also the directors IOT the purp%)sès ol company law, present their report arKI Ihe
unaudiled Iinancial slaiemeftts ol the charrty lor the year erKJgd 31 December 2020.
Reterence ond admlnl8tr•tlve d¢tJllg
Regl¥tered eharlty nam•
Ch•rlty ro91gtrntlon number
Company reglstrntlon number N1621790
Prlnclpal olllce and rngl•iered Wesigale
ottlce
15 The Strand
Portalery
Co Down
8T22 1 PF
PThlalerry and Sirar¥Jlord TnJ5t knmsled
NICIIXJ148
The Irustees
Mr J Ellioll
Mi G Laverty
Mr G Lennon
Mrs M Mccarthy
Mfs A Murphy
Or J Sigwart
Mr R Murpliy
Mr S Reilly
Mfs U Re511y
Ms D &rkeii
Mrs E Rc*Ydy
Company •ecrelary
Independent examlnar
Mrs A mu1￿Y
Ime*Ja R(*3an IBSC. Hofts. FCAI (kn b8hall ol Aogan Accountancy
Limil&J
Skelnck Hwse
JUbl￿e Road
N￿ownardS
Co Down
BT23 4YH
Structure. go¥?rn8nee •n¢J man•gement
Legal slruciure
Portalerry and Slranglord Twsi Lim*ted ts a Company Iimiied by Gvaranlee arKI is a registered charily.
Tegulaled by the Chaiity CommisS￿n lor Northern IrelarKI. The company has been awaroed ¢harilabl8
51alus by HM Revenue ano Cusioms. 11 ￿ a lor wolil oroanisabon.

Portaferry and Strangford Trust Limlted
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng Ihe Director's Report) {contlnwdJ
Year ended 31 December 2020
Struclure, governance and managemert {¢
Governance anangementS
Portalerry and Slranglord Trusi 15 currently govemod by a Lx>ard ol I I trustees (subject lo a maximum
01141. The board can co-opt new Iruslee5 as ano when fequife(1. The charilY5 chair Is elected from
Ihe members on an annual basis and is raiilied ai Ihe Annual General Meeiing. New diTeclors are
bri61ed on Iheir legal obligalions under ¢hanty ano company kw, the eonlenl ol the Articles of
Associaiion. Ihe oxnmittee and dec￿￿ rnakir￿ yc¢ess. and receni financial perfomiance ol the
charity.
Obl•cllve• •nd •cllvll*s
The companys charitthe oty"8cb¥8s aro".
1. to secure by such means as are available lof ihe public Oon81il the PfeseryalKJn. proleclion and
Improvemeni ol bJiklings or land OT Slruclures ol particular beauty. oi ol hislonc, environmental.
archileciural or ¢OnSlruclional meril or Interest In Ihe Portalerry and Slran9lorfl area. and lo slimulaie
a￿1 edu¢ai8 wblK Inieresi therein:
2. acquire. reslore. repair, renovate and Improve ￿l*lIng$ ar￿ lafKI Iiftcluding parklalldl lor the
communsly common benelil in Portalerry Slrawofd aThJ where Ilwhl desirable efecl new
buisdings lof Ihe oeneral ben8fil ol the said community..
3. make 8nvifonmenlal improvemonis to FWrti8s. slr8ets, 81reetscapo and land lincWing part(landl
generally In Ihg ar8as ol Portaleiry and Siranglord including where aFpropnale planiing and
honicullural Improvomenls",
4. generally promote anL1 8n¢ourage the education of Ihe puuic In historic archileclurg, urKJefsianding
ol planning, and apprecialion ol the environment. lands¢aFe and townscape onvironmeni wheiher
through exhibilions. lectures. sèminats or olherwise or by commenting on planning applicalKins,'
co.opéraie with the local aulhonty. llxal planning athhorty arn1 all other slaiulory aulhorili•s,
Volunlary organisal￿n9. Charit￿ or wrnons hawng wms similar lo Ih? company.,
6. 10 heighten awareness ol Ihe ifflEortance ol Ihe concept ol sustainability arKI promole susiainable
08vekwmeni:
7. 10 carry oul, encourage and lostgr fesear¢h and so lar as may be Pfaet¢able to disseminaie the
resulls ol same. lo cause lo be written aTrd prinled Of oiheTh•se reproduced arKI csrculaied, graluilously
or othe￿ISe. Iileraiure. iewrts and other thxumenl5.

Portaferry and Strangford Trust Limited
Company Limlted by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrector's Report) fc0n1ljN￿
Year ended 31 December 2020
Oblectl¥es and a￿1vItIes fc
Actiwlies
Portalerry aThY Siranglofd Trust aims lo celebrale arxJ Promote Ihe marilim? and buill henlage ol
Portalerry. Siranglord and Ihe suryounding area by regenerating buikJ+ngs aThY laTrJscape arKi
developing a maritime centre to promote th8 ￿ pasl. present and luture ol the area by all or any ol
Ihe lolkThing means..
l. running manlime events invo￿"T￿ Ihe kul communit*s. These 8vents ras0 awareness. generate
inieresl, and have high edi&iiional conierrt..
2. developing goc#J links ￿1h tocal organisalK*ns Incl￿11￿ councils, n￿s￿M8. hisiorul S￿leIleS.
Poflalerry Regeneration Lwniled. Slranglord Lough Lecaie Partnershp arKI Queon's Untversity Marine
3. use and encourage use of empty heritage t￿11￿1￿.
Strnt•glc r•port
The lolbwing sections lor achb8voments and performa￿ a￿1 financial revK8w lomi the Slraleg
reFort ol Ihe chaiily.
A¢hlev•m•nts •nd perfornMnc•
2020 $lart8d in Ihe usual energet￿ ar￿ enfftusiaslic way. havino iusi hosted the 2019 Carol Ship on
Siranglord Lough eveni which was a huge success. Plans lor the Incoming year include(l eapilalising
on eommunily enihusiasm lof Ihe aclivilie5 carried oul by the chanty. conlinuiiKJ lo develop Ihe
Ropowalk Marilime Cenlre. Conlinuing lo hosl talks and evonis. Ho¥fftier. ￿1h tha onsel ol Ihe Cov*y
19 pandemic, plans quickly changed. Schedu￿ lalks wefe r•Jstrfyne(l. the Marilime Cenlre was closed
during much ol year due ￿ governmeni regulations. and Ihe annual Carol Ship event was
cancelled. Our Usual Income Slreams, such as lun(ts raised liom hosi.,ng lalks and evenls. were
inlerrupled. Nevertholess. ￿th Ihe much needed he¥> from (￿r r8gular lunders, Including Ards atKI
North Down Bofouoh Council. in a(kJilion io our very oenerous local benèlaciors and supportive
community groups, we were atse lo salisty our linancial Obl¥JaI￿nS and keep our Iinances secure ano
inlacl.
Whilsl Iinan¢ial survival was main locus durinp year. ¢k)SUfe ol ￿r la¢ilrti8s provKJed an
Opport￿nItY 10 make subslanlial prooTess wtlh the Jirn Blaney Proieci. Wilh the Maritirne C8nlre
remaining closed 10 Ihe public. we were able lo dwert our lime and attenlJDn lo the project. lurthering
Ihe aclivilies ol afchwing ar¥J ￿lIdIng display space lor this vasi Colle￿lon. This was an Inadvertent
511ive consequence ol Ihe pandemic.
Social disiancirKJ regulat￿nS also meani that our Trustees h&J lo adapl lo usiry online hosting
lechnologies, 5wh as Zoom. lo pieveni inlerTuplion kn ouf reguLqr meetings. We are now In a pjsilion
to make use ol online meetirwJ Sol￿are lo Continue lo ixJik1 on commun1caiions an¢Y build rela1￿n$
lurther aliekj.

Portaferry and Strangford Trust Llmiled
Company Limiied by Guarantee
Trustees. Annual Report (Incorporating the Dlrector's Report) Iconllnwdl
Year ended 31 December 2020
Flnanclal revlew
Resutts lor the ytar
During Ihe year ended 31 December 2020 Ihè company gen8raied a surp￿¥ in unrestr￿18￿ reservos
01 £1.679 and a delicil 01 £2.470 In reStr￿le￿ roserves.
Plans lor lulure perlodl
Our plans lor 2027 and t*yorKI Inclth the Corfinued search lor lunding. wg ￿11 recommence our ialks
and ev8nis. and continue lo develop Ihe Maritime Cenlre. We have launched c￿r vast documenlat>on
colleclion online. enabling researchers Irom all ovef Ihg woikl 10 ac£ess our archives. We have re-
opened the Marilime Cenire and are de1￿hled thai we have had over l.tXK) visilors. despile haviNJ to
Sln¢l numbefs 10 compty the conlinued SOCI￿ dislanciThJ measures.
The Iruslees, annual report and th8 Slraieoic report were aFVOV8d on 20 Seplembvr 2021 and sion8d
on b8hatt ol the board ol Irusiees by..
41L
Mr$ A Murphy
TnJsloe
Mr S ReiNy
Trusiee

Portaferry and Slrangford Trust Llmlted
Company Llmtted by Guarantee
Independenl Examlner's Report 10 Ihe Trusiees of Portaferry and siranglord
Trust Llmlted
Year ended 31 December 2020
I rerort Io Ihe trustees on my examination ol the Iinancial siatemenis ol Ponalerry and Stranglord
Twsl tsmiled I'lhe chariv) lor the year ended 31 Oecember 2020.
Responslbllltlos and basls ot rnport
As the Iruslees of Ihe company laThJ also rts direelof5 lor Ihe kMJrp)ses ol company lawl you are
responsible lor Ihe preparat￿n ol Ihe Iinancial siaiemenls In accordapce with Ihe requiremenis ol
Gharilies Act (Northern Ireland) 2008 Ittte .2008 Aci'i arn1 the Companies Act 2006 I'iho 2006 Ath'i.
You are salislied that ltte accounls ol Ihe company are noi requireo by ¢harity or company law 10 be
audiled and have chosen insiead lo have an in¢Jependenl examination
Having saiislied mysem Ihai Ihe accounts ol the company are not r8Wired lo be auoiied under Pafl 16
ol Ihe 2006 Act and are eligible lor i1￿nden1 examinali)n, l ieport In fesp8cI ol rny exam1nalion ol
the charily's linancial stalemenls as carried oul undeT section 65 01 the 2008 Au. In carryng out my
examinaiKJn I have loltowed Ihe gener￿ Directions given by Ihe Charity Commission lor Northern
Ireland under S8Clion 6519iibl ot Ihe 2008 Act.
Indep¢nd•nl ex•mlnw'• Jtatom•nt
I have compleled my examinalK￿. l ¢onlimi ihal mallers have come ￿ my attenlion in connect
wilh my examinaiK>n giwng me cause lo belw Ihal in any material respect:
ac¢ounlino records wore kept In respo￿ d ihe chanty as requirod by Sedion 386 01 the
2006 Act. of
lfie fina￿la1 slalemenls do Th)t accord wilh IPk)se rocord8: or
Ihe Iinancial Slalemenls do noi comply ￿1h the accouniino reouiremonls ol section 396 01
the 2006 Aci Other than any requirement ihal the accounis give a 'irue arKI lail view wh￿h 18
not a mallei consKJerecl as part ol an IrKJependenl examinalion., or
the financial stalem8ni$ have nol been pr8pafed in acconjance %wth the melttods arKY
Princi￿eS ol the Siaiemeni ol Recommended Pla￿lc9 lor accounting aThY rewfling by
charilies aFplieable to charilies prepanng Ih8ir accounts In accordance wlh the Finaacial
Reporting Siandard awliCab￿ In Ihe UK and Republic ol Ifeland IFRS 1021.

Portalerry and Strangford Trust Llmlted
Company Limlted by Guaraniee
Independeni Examlner's Report to the Trustees ol Portaferry and Strangford
Trust Llmlted i¢onllntstrd)
Year ende(J 31 December 2020
l ¢onlimi Ihal Ihere are no olher matters lo wh*ch attent￿n shoukl be drawn lo ena￿6 a proper
Unogrsiar￿l￿9 ol the accounls lo be reached.
Imekla Flogan IBSC. Hons. FCAI
On behalf ol Rogan Ac¢ounlancy Limrted
Indep8ndenl Exami
Skelrick House
Jubilee Road
Newtownards
Co Down
8T23 4YH
20 Sepièmber 2021

Portaferry and Slranglord Trust Limlted
Company Llmlled by Guarantee
siatement of Flnanclal Actlvlties
(Including Income and expendilure account)
Year ended 31 December 2020
2020
Reslr'cled
lunds Total lundg Totsl funds
2019
UnrestrrCt8d
lunds
Income and endowments
Donations and ltsgacies
Oiher trading aciivities
Total Incom•
Expendllur•
Expenditure on charilable athivities
Total oxpendltu
4.116
6,870
10,986
25,295
1.591
5,056
6.870
11,926
3.3n
9,340
12.716
15,983
3.377
12.716
15,983
Net lexpendltvr8inncome and net
movernenl In lunds
1,679
12,4701
10,903
Reconclll•tlon ol funds
roial lunds brought forward
Tol•l lunds canlod tonvard
2.289
14,947
17.236
6.333
12,477
16,445
17,236
The slalemenl ol financial aclivili•S includes all gains and thses 18ctsJnisod in Ihe ywar.
All income and expendiluio denve Irom continuing
Tho nob• on p•fft 10 kn 17 lorm p•rt ol the*e flnwKl•l •tstem8nts.

Portaferry and Strangford Trust Llmlted
Company Llmlted by Guarantee
Statement of Flnanclal Positlon
31 December 2020
2019
Flxed asaets
Tangible Iixed assets
13
9,433
Current 488th9
Detilors
Cash al bank and In hand
14
110
3.641
5,162
8.803
Cr•dltor8: amountg talllng due wlthln one y￿1
Net CUff8nt •3sets
Total asset• les• cynenl Il•bllltl•8
Net aJ•etg
15
7,803
16,446
17.236
16,446
17.236
Fund• ol the ¢harlty
Reslricled funds
Unreslricled funds
Totil charlty lund•
12,4
14.947
2.289
16
16.445
17,236
For the year ending 31 December 2020 tho charity was enlilled to oxempl￿n from a￿1 under section
477 01 Ihe Cornpanies Acl 2CKA ffjlaiiry lo small companies.
Direciors, responstslities:
Th8 mernbers have rrf)I rowirod the company lo O￿ain an a(wJil ol its Irnancial stalemenls lor The
year in Quest￿n In aCCordar￿e section 476..
The dif8Ctors ackn￿edge their respwsknlilies lor comptyw vrilh Ihe requirements ol the Acl
th respect lo accounting records aThJ the sxeparaiion of 15nancial slaiemenis.
Theso financial slalemenls have boon tyepared in ac(x)rdaru ￿1h the provis￿n8 applicable lo
companies S￿lect lo the gmall ￿mPanies, regime.
Thesè linancial Slalemenls were approved by ltte board ol Iruslees authorised lor issue on 20
Seplember 2021. and are ￿nfjd on behall ol the txjard by..
Mr5 A Murphy
Trusie•
Mr S Rthlty
Tfuslee
Th• nots8 on pty•¥ 10 to 17 lomi p•rt ol It￿• Iln•n¢l•l gtai•m•nl•.

Portaferry and Strangford Trust Limlted
Company Llmlted by Guaraniee
Statement of Cash Flows
Year ended 31 December 2020
2019
Cash flows Iroffl opefatlng adlvltl•8
Nei lexpendiluiel/in¢Thne
1790)
10.903
Adjusimenls lor..
Depreciaiion ol laryible Iixed assets
Inleresi payable artd similar charges
Changes In..
Trad8 and other debtors
Trade and other N8(Iitors
Cash generaied Ifom operalions
Inleresl paid
Nel Cash Irom op8raiing acilvrties
3.196
240
3.575
325
1531
13.0001
13,367
6.1TI
12401
5,937
13251
13.042
Ca$h Ilowg from In¥￿tIng •ctlvltbo•
Purchase ol langible asse
Not cash us•d in Invesling adivi11os
{3.111)
110.49tI
110.4911
Nel Incrfrau In ￿*h and c•8h •qulvalont•
Cash and CQAh equlval•nts at beglnnlng of year
C•sh and cagh •qulv•l•nt• at •nd of yoof
2￿26
5.162
2,551
2,611
5.162
Th• notts on 10 10 17 lorni p•rt ol fln•ncl•l •l•t•m•nt•.

Portaferry and Strangford Trust Llmlted
Company Limlled by Guarantee
Notes lo the Flnanclal Statements
Year ended 31 December 2020
Gener•1 Inlomiatlon
The chanly Is a pubjrc bonelil eniity arKJ a w'vale company Iimrted by guaranieè. regislered In
Nonhern Ireland and a regislef80 charity in Northern Ireland. The a(kYress ol the regisiered ollKe
is Weslgale, 15 The Sirand, Ponalefry. Co Down. 8T22 1 PF.
Stalement ol compllan
These financial slal8menls have been prtyared In compliance *ilh FRS 102, Financial
Fleporting Siandard 4Wicable In ihe UK and Ihe Rewblic ol Ireland,, Ihe Sialemeni ol
Recornmefthd Practice atWicabl8 to chanties preparino Ihe*r accwnls in accordance wilh the
Financ*al Reporting Siandafd awlicabk in ltte UK and Rewic of Ireland IFRS 1021 (Charities
SORP IFRS 10211 armj the compan￿ Acl 2(M)6.
Accountlng pollcl•s
8a•l• ol pr•p•r•tlon
The financial Slalemonls have been Prepared on Ihe hislor&i1 cosi basis. as m¢xlilied by the
rtralualion ol certa1n financ1￿ assels arKJ Iiabililies armj inveslmenl propert￿$ rneasurèd al lair
valtse 1hr￿jgh Irwme or oxpendilure.
The linanual Slalements are prepared in slerfirwJ, vlhich is tho fun¢t￿nal currww ol Ihe entity.
Golng concem
There are no malenal uncertainl￿ at#)ul the chantys aEMlrty 10 conlinue.
Judgement• and key •our¢•s of •￿IM•ll0n uneertalnty
The lollow'ThJ eslimaio has been us8¢ In Iho proparaiion ol Ihe linancial siaiemenls.. Eslimaied
useful l(le ol equipmeni Is 5 years.
Fund •ccountlng
Unieslrlcled lunds are av&lablè lor LW ai Ihe *Jiscretion of th• Iwsleos lo ILJrther any ol Ihè
charity5 wrFoses.
Designated lunds are unrestrtled fuThts earmart(ed by Ihe Iru*ees lor parti¢uLqr luture project or
commilmefti.
Resiri¢ied lunds are subpdfjd lo reslnctths on their expendilvre declared by the donor or
Ihrough Ihe torms ol an apyal. aryl fall inlo one ol Iwo SLtsdasses.' restr￿ted IrEcome lunds or
endowmenl funds
io-

Portaferry and Slranglord Trust Llmlted
Company Llmlted by Guarantee
Noies io the Financial Ststements (eonwnwdj
Year ended 31 December 2020
Aceountlng pollcles (C￿￿T￿#d)
Incomlng rn•ourceg
All incoming res￿rceS are I￿1￿jed in the statement ol Itnancral aaivities wthen entit￿ment has
passed 10 Ihe charity. El t$ probab￿ Ihai Ihe e¢onomiC benelils associated wilh Ihe Iransactioll will
Ilow Io the charity and Ihe amounl Can be reliabty measurad. Thfr lolbwing spac11￿ are
appl￿ lo particular cale00￿$ ol income:
irume Irimm thnaitons ty grants Is recognised when Ihere evthrte ol 9n1rl￿me￿l lo the
gift, receipl is probabFe and rts amounl can be measured feliably.
acy income ts recognisea when v￿able and enlillwnent is esl8blish8d.
Incom8 Irom thnaloo gcojs i8 measuT•d al the lair value ol Ihe goods unless Ihls is
Smpraclical lo measure reliabty, In whicn case ihe value Is derived Irom Ihe cosl lo Ihe (lonor
or ihe esiimaled resabè value. Donaie(I lacililies and seryices are recognised In the accounls
when weceived Il the value can be reliably measvred. No amounts are included lor the
contribu1￿n ol ggneral volunieers.
income Irom conlracis lor the SLwly of serv￿5 is re(xwni8od 7Mth Ihe delivery ol Ihe
conlracled service. This Is classilted as uniesiricied funds unless Ihere Is a conirac,lual
requirement lor Il lo be spent on a pani¢uLar wryjose arKI rOlurn8d il unynl. In which case
il may be regar(Jgd as reslncied.
R￿oUrceS expond•d
Expendilure is recogntsed on an accruals basis as a Iiknlrty is incurred. Expendilure Includes any
VAT whlch cannot be lully r8covered, and Is classif￿1 under headings ol the Slalement ol
financial aclivilies lo whfjch Il relatO8'.
expendilure on raising funds Inckmjes th& CO$ls ol all fundraL8lTrJ adNitlos, events. non.
charitable trading aclivilies. arKJ the sale ol donated goods.
expgndilure on ¢harilable aclivilies includes all costs In￿rTed by a chaftty in undertaking
actwilies Ihal lurther Ils charilabbe aims lor the benelil ol rfs beneficiaries. including Ihosfj
SUPF(Srt Costs arKI costs relaling lo Ihe govemance ol Ihe charity apportioned lo charitable
aclivitses.
Olhei expenditure Includes all expeTrlilure thai is nerthef relaled io raiSiTrJ lunds lor Ihe
chaiily nor part ol Ils expendrture on chaf*lth aclivrt*s.
All cos15 are allocated lo exwndilure ealegories rellecling the use ol the resource. Direct cost$
attributable lo a Sing￿ athivity are alktatod direclly lo Ihai acliwty. SharBd costs are ar¥Jofjioned
between the a￿1¥11￿ they coniribule lo on a reasonab￿. jUSlEliable and consisienl basis.
TangSble a38et•
T&ngibte assets are Init￿lty re¢ord8d at cosi. arnl subsewity slaleo al cosi less any
accumulaled depreciaiion and impaiimenl bsses. Any tangl￿& assels Carr￿ al revalued
amounts are recorded at thé lair value al Ihe dale ol ievalualion less any subs¢quenl
aecuTnulaled dep￿latIOn and subseqvenl accumulaied impaimienl bsses.
11

Portaferry and Strangford Trust Limited
Company Llmlted by Guarantee
Notes to the Flnanclal Statements (Conwn￿oI
Year ended 31 December 2020
Accountlng pollcle* (¢•niiTh*
Tangible asw$ I
An incTrase in Carryi￿ amount ol an assth as a resull ol a re¥￿al￿)n, is recognised In othèr
fecognised gains and tosses. unless it rèverses a charge lor impairneni Ihal has previously beèn
recognised as expenditure wilhtn the slatemenl ol linancial activities. A decrease in the carwng
amouni ol an asset as a iesull ol revaluaiion. is recLVdnised In Other ra¢ognised gains and losses.
except lo whTrch Il ollsels any prevws TevaluatK>n gain, In which case Ihe knss is shown within
olher fecognised ga+ns and bsses on Ihe slaiemenl ol l*nancial actiwlies.
Ihpreclatlon
Dep18cialion Is cakulated so as lo wnle oll the cosi or Valuati￿ ol an as$et. less rts residual
value. over Ihe useful econom￿ life ol Ihai assel as lolbws.,
Equipmèni
20% strayhl hne
lrnpalrm•nt ol Ilxed atsets
A review lor Indtaiors ol Impai￿ent Is carried wi al each reportiiy Oate, ￿tfi Ihe recoverabig
amouni being eslima18d where such Induiois exist. Where ihe caryng value exceeds Ihe
recov8rablo amount. the assei Is Impaired accoidiwty. Prior Impaimenls are also roviewe(I lor
possible reversal ai each rep)niryJ dale.
For Ihe Wryises 01 impairment iesiing. when rt Is not Possible to eslimaie the recoverable
amounl ol an Individual assei. an eslimaie is made ol the recoverable amount ol Ihe ca5h-
generating unil 10 wh￿￿ lh8 asset belongs. The cashTenefaiirw unil Is Ihe smallest Idenliliable
ofoup ol asseis Ihai includes itte asset aThJ generaies cash Inlkms thai largely independent ol the
cash inllows Irom other assels or groups ol assets.
For impaifmefti lesling of goottM"Il, the goothvill a¢qu1red in a business combinalion Is. from the
a¢quisifion dale, allocaled lo each ol Ihe ¢ash-generaling units Ihal are expecied lo benelil Irom
the syneTgies ol Ihe combinaiion. irrespecltve of *h8lher olhw assets or liabilitie$ ol Ihe charity
are assigned lo those units.
Flnanclal Insirum•nt•
A linancial assel or a Iinancial Iialjlity is recognisod only vthen the chanty t￿ComeS a party to Ihè
conlraclual provisions ol the Instrument.
Bas¢ financial Insirumenis are inthally recognised ai th• amounl receivable or payable including
any relale(J IransaciN)n cosls.
Current assels arKJ curreni Irab"Iilws are subsequentty measured ai Ihe cash Of other
constderalion exr*cted lo be pa￿ or fecgiveo af￿ not discounled.
Debi insinJments are sub58quenlty measured ai amonised cost.
Where irweslmenls in shares are ￿b￿lY Iraaed or their lair value can OlheThvise be measured
reliably. rhe investment Is 5ubsÈqueniiy measur8d al lair value with changes in lair y￿U0
fecognised in income arKI 8xporKhlure. All Olher s￿h investments are subsequeniiy measured al
cosl less Impairment.
12-

Portaferry and Strangford Trust Llmlted
Company Llmlted by Guarantee
Notes to the Flnanclal Slatements (eonNni*d)
Year ended 31 December 2020
Ac¢ounllng pollclè• fconO)x•d)
Flnan¢lo1 Ingtrumenis icMIiTh
Other financial Instruments, In￿￿'1￿j derwalivo5. are initslly recognffjed al lair vahje. unlo8S
paymeni lor an asso1 is delerred beyontt r￿Trnal l)usin6ss lerms OT financed al a fate ol Interest
thai is not a mark81 iale. In which case the assBI Is measurtra al the present value ol the Iuiurè
payments discwnled ai a mathei rale ol Inieresi lor a similar debt inslrumenl.
Oiher linancial insirumonts are subswnily measufed al lair Value. wiltt any changes
rocognised in Ihe Slalemenl ol Iinancial aaivilw. wrth the exceptKJn ol h8doing Inslrumgnis In a
designalecl hedging relaiionship.
Financi81 assets that are measured ai cosl or amortised cosi are ￿viewed lor ¢)bjeclive evidence
ol impairmenl ai the end ol each rBFKSrting dale. 11 there is otyeclNe evidence ol impairmeni, an
impairment k>ss Is recffjnised undef the arrf)ropriale heading in Ihe slalemenl ol ljnancial
aciivilies In which the Inilial gwn was recoanised.
For all 6quIty instruments regardless ol SKJni1￿ncO. and olher Iinaneial assels that are
ItKlivhdually signilicanl, these are assessed IndivNtually lor Impaiiment. Other linancial assèis ar6
eilher assessed irKJiW￿a1lY or grouped on basis ol similar Credit Ttsk characlerisiics.
Any revefsaLs ol irnpairmeni are recognised immed￿le4y. lo tho exlenl Ihai Ihe reversal does noi
resull in a carTwng amounl ol Ihe financial ass•1 Ih81 exce¢ds whai Ihe carrwng amount woukl
have hao Ihe impairment not prevously been locognised.
Llmllod by gu•r•nt•e
The Trusl Is a company limited by guarantèe and does not have sharo wylal. The liability ol
each member Is limited lo an amount noi exceeding £1.
Donallong and leg•clo•
Unfe51ricifjd
FurAJs
Reslricled Total Fund•
Funds
2020
Donatlons
Donation5 liom members ol Ihe wbl
Corporate Donations
2,325
41J)
2,323
400
Grant¥
Aros and North D¢)wn Borough Council
DAERA Grani
Community Fund
Depanmenl lor Communiti'es
178
213
3.250
3,428
213
4,620
4,116
6.870
10,986
Un￿tr￿ted
Funds
R851f¢ted Total Funds
Fufwts
2019
Donatlons
Donalions Irom members of the sxW
Corwrale Donaiions
2.440
2.275
2,440
2.275
13-

Portaferry and Strangford Trusl Limited
Company Llmlted by Guarantee
Notes to the Flnanclal siatements (coftlni
Year ended 31 December 2020
Donatlons and legacieg ieonttrn
Unresincled
FU￿lS
Reslricled Tolal Funds
Funds
2019
Grantg
Aids and North Down 8orough C￿￿1
DAERA Granl
Cornmunily Fur•
Oepartmeni lor Communit
3,100
1.380
9.000
3.280
5,920
1,380
10.000
3,280
8.535
16.760
25,295
Olh•r tr•dlng •Ctlvllle•
Unreslriclecl Tot•1 Fund• Unfeslricted Total Furrfls
Funds
2020
Funds
2019
Fundraising events
940
1,591
1,591
Expendltum on charlt•ble •ctlvltl•s by lund typ
Unreslrlcl￿j
Funds
Aeslrrled Tot•1 Funds
Funds
2020
Mari11rn8 EducalKJn
The Carol Ship
The Aopewalk
Supwrt costs
1307
719
1,565
1.4CKJ
837
530
719
7.678
3,789
6,113
2,390
3.377
12.716
Unreslricied
FurKIs
Heslncfed Total Funds
Furtls
2019
Maritimè Ethjcaion
The Carol Ship
The RopewaN(
Suppon costs
1.184
1,292
4.273
3.035
183
4.570
1.446
1,368
5,861
5.720
3,034
9.784
6.199
15.983
14.

Portaferry and Slrangford Trust Llmlted
Company Llmlled by Guarantee
Noies to Ihe Flnanclal Statemenis iL*nllfft￿)
Year ended 31 December 2020
Exp•ndlture on eh•thable by aetlvSty type
Activilies
denaken
directly SuFVIrt costs
Totsl lunds
2020
Total lund
2019
Maritime EducaiKJn
The Carol Ship
The Ropewalk
Govemance costs
530
719
7.678
530
719
7,678
3.789
5,861
5,720
3,034
3.789
8.927
3.789
12.716
15.983
Net lexpendtture)Ilncome
Nel lexpendilurell•ncome after chargingllcredilingi..
2019
DeprecialKin ol tangib￿ Iixed asseis
3,196
3,575
10. Independent ex•mln•tlon fees
2020
2019
Fees payable to the Independeni examiner lor..
Independent examinaiion ol Ihe Iinanoal Stslemenis
11. Tw81e• i•mun•r*i¢M and o¥poniJ
Truslees participaie on a lully ¥O￿ntary ba&G a￿1 rKJ trustee r•cèrv8d femunoralion or benelits
during the yeai.
12. Trnnslfyrs belw•on lunds
There were rK) Iranslws tjtheen luThls duriTrJ the year.
15-

Portalerry and Strangford Trust Llmlted
Company Llmited by Guarantee
Notes to the Flnanclal Slatements ic¢￿￿0)
Year ended 31 December 2020
13. T•nglbl• flxed •wts
Equprenl
Total
Cost
Al l January 21)20
Additions
26.161
3.111
26.161
3,111
29,272
At 31 Dec•mbw 2020
D•precl8tlon
Ai 1 January 2020
Charge lor the year
At 31 Dec¢mb8r 2020
Corrylng 8mount
At 31 Deeernber 2020
Al 31 Decembef 2019
29,272
16.728
3.196
16.728
3,196
19.924
19.924
9.433
9.433
14. Debtors
2019
Oiher debio
3.641
15. Crndltors: amount81•1llng wlthln one y••r
2019
Atcruals and del8rr8d I￿)me
16. An￿￿1• ol ch•rlt•bl8 lund•
Unrestrlctod lunds
Al
l January 202
At
31 Decèmbor
2020
I￿rne Expendilure
General lunds
2.289
5.056
13.3771
Ai
1 January 201
Ai
31 Oecember
2019
Income Experylrture
General funds
1,947
10.126
19.7841
2.289
-16-

Portalerry and Slrangford Trust Llmited
Company Llmiled by Guarantee
Notes to Ihe Flnanclal Statements (con¥nu￿)
Year ended 31 December 2020
16. Analyslj of ch•rFt•ble lund$ ie
ReBlrfcted lunds
Ai
l January 202
At
31 t)ecombei
2020
Inc(xne Expenditure
Resiricled Fur
14.947
6,870
19,3401
12,4TI
Al
l January 201
Al
31 December
2019
Income Expendilure
ReStr￿ted Funds
16.760
16.1991
14,947
17. Analy•ls ol Chang￿ In net debt
At
Ai 1 Jan 2020 Cash IIov4S 31 De¢ 2020
Cash al bank and in hand
5.162
2,826
17-