COMPANY REGISTRATION NUMBER: N1621790
CHARITY REGISTRATION NUMBER: NIC100148
Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2024
ROGAN ACCOUNTANCY LIMITED
Chartered accountants
Sketrick House
Jubilee Road
Newtownards
Co Down
BT23 4YH

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Financial Ststements
Year ended 31 December 2024
Page
Off icers, annual report (incorporating the director's report)
Independent examiner's report to the officers
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Statement of cash flows
Notes to the financial statements

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Off icers. Annual Report (Incorporating the Director's Report)
Year ended 31 December 2024
The off icers, who are also the directors for the purposes of company law, present their report and the
unaudited financial stalements of Ihe charity for the year ended 31 December 2024.
Reference and administrative details
Regisiered charily name
Portaferry and Strangford Trust Limited
Charity registration number
NIC100148
Company regisiraiion number N1621790
Principal office and registered 15a The Strand
off ice
Portaferry
Co Down
BT22 1 PF
The officers
Mr J Elliott
Mr G Laverty
Mr G Lennon
Mrs M Mccarthy
Mrs A Murphy
Dr J Sigwart
Mr R Murphy
Mrs E Roddy
Mr D Edmondson
Company secrelary
Mrs A Murphy
Independent examiner
Imelda Rogan {BSC. Hons. FCAI On behalf of Rogan Accountancy
Limiled
Skelrick House
Jubilee Road
Newtownards
Co Down
BT23 4YH
Structure, governance and management
Legal structure
Portaferry and Strangford Trust Limited is a Company limited by Guarantee and is a registered charity.
regulated by the Charity Commission for Northern Ireland. The company has been awarded
charitable status by HM Revenue and Customs. It is a not for profit organisation.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Officers. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2024
Structure, governance and management (continued)
Governance arrangements
Portaferry and Strangford Trust is currently governed by a board of nine trustees (subject to a
maximum of 141. The board can co-opt new trustees as and when required. The charity's chair is
elected from the members on an annual basis and is ratified at the Annual General Meeting. New
directors are briefed on their legal obligations under charity and company law, the content of the
Articles of Association. the committee and decision making process, and recent financial performance
of the charity.
Objectives and activities
The company's charitable objectives are:
1. to secure by such means as are available for the public benefil the preservation, protection and
improvement of buildings or land or structures of parlicular beauty, or of historic, environmental,
architectural or constructional merit or interest in the Portaferry and Strangford area, and to stimulate
and educate public interest therein-
2. acquire, restore, repair, renovate and improve buildings and land (including parkland) for the
community common benefit in Portaferry and Strangford and where thought desirable erect new
buildings for the general benefit of the said community.
3. make environmental improvements to properties, streets, streetscape and land (including parkland)
generally in the areas of Portaferry and Strangford including where appropriate planting and
horticultural improvements;
4. generally promote and encourage the education of the public in historic architecture, understanding
of planning, and appreciation of the built environment. landscape and townscape environment whether
through exhibitions, lectures, seminars or otherwise or by commenting on planning applications-
5. co-operate with the local authorty, local planning authority and all other statutory authorities,
voluntary organisations. charities or persons having aims similar to the company.,
6. to heighten awareness of the importance of the concept of sustainability and promote sustainable
development.,
7. to carry out, encourage and foster research and so far as may be practicable to disseminate the
results of same. to cause to be written and printed or otherwise reproduced and circulated,
gratuitously or otherwise, literature, reFK)rts and other documents.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Officers. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2024
Objectives and activities (contlnued)
Activities
Portaferry and Strangford Trust aims to celebrate and promote the maritime and built heritage of
Portaferry, Strangford and the surrounding area by regenerating buildings and landscape and
developing a maritime centre to promote the rich past. present and future of the area by all or any of
the following means..
1. running maritime events involving the local communities. These events raise awareness, generate
interest, and have high educational content-
2. developing good links with local organisations including councils. museums. historical societies.
Portaferry Regeneration Limited, Strangford Lough Lecale Partnership and Queen's University Marine
3. use and encourage use of empty heritage buildings.
Stralegic report
The following sections for achievements and performance and financial review form the strategic
report of the charity.
Achievemenls and perlormance
The Trustees wish to thank all those who have donated at our quizzes or directly and supported our
activities in Ihe year ending 31 December 2024. In particular, we are grateful to the Ards & Norlh
Down Borough Council for their supporlive grants which have enabled our activilies to continue in
pursuance of our objectives.
The Ropewalk Exhibition Centre was open at weekends from late June until September and
welcomed over 1,300 visitors, many of whom were families. The Centre was also opened. on request.
to host some school visits.
Throughout the winter months there were monthly talks about various aspects of marine history and
activity around Portaferry, Strangford, and Strangford Lough and the Irish sea.
Various trustees also engaged in speaking engagements on the similar activities at other community
groups across the Peninsula and at various schools.
The development and codification of the Jim Blaney Archive continued throughout the year.
Unfortunately, we were unable to recommence our annual December Carol Ship activity due to lack of
funding.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Officers. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2024
Financial review
Results for the year
During the year ended 31 December 2024 the company generated income totalling £5,715 from
activities including sale of calendars, donations from visitors to the Ropewalk, suggesled donations
from attendees of our maritime history seminars. and funds raised during our regular quizzes. We also
obtained grant funding of £1.629 from Ards and North Down Borough Council which helped fund
overheads including insurance. rent. IT costs and stationery. Total income from all sources was
£7.344.
Our lotal expenditure during the year was £8,832, inluding those costs funded by running costs grants.
Our overall deficit for the year was £1.488 which has been absorbed by our reserves.
Plans for future periods
The Trustees hope to continue and expand the above activities. and to deepen relationships with other
similar groups around Strangford Lough and beyond. In addition, it is our intention to support a project
with Ulster Archaeological Society seeking evidence of previous settlement at and in vicinity of Castle
Hill, Ardkeen on shore of Strangford Lough.
The officers, annual report and the strategic reporl were approved on 30 October 2025 and signed on
behalf of the board of truslees by-
J6hrneg Ellfv+
6kntnc
Mr J Elliott
Officer
Mrs E Roddy
Officer

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Independent Examiner's Report to the Officers of Portaferry and Strangford
Trust Limited
Year ended 31 December 2024
I report to the officers on my examination of the financial statements of Portaferry and Strangford Trust
Limited I'the charity,) for the year ended 31 December 2024.
Responsibilities and basis of report
As the officers of the company (and also its directors for the purposes of company law) you are
responsible for the preparation of the financial statements in accordance with the requirements of
Charities Act (Northern Ireland) 2008 (the .2008 Act'l and the Companies Act 2006 {'the 2006 Act')-
You are salisfied that the accounts of the company are not required by charity or company law to be
audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination. I report in respect of my examination of
the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my
examination I have followed the general Directions given by the Charity Commission for Northern
Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's siateme
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the
2006 Act" or
the financial statements do not accord with those records. or
the financial statements do not comply with the accounting requirements of section 396 of
the 2006 Act other than any requiremenl that the accounts give a 'true and fair. view which
is not a matter considered as part of an independent examination- or
the financial statements have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and reporting by
charities applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)-
I confirm that there are no other matters to which your attention should be drawn to enable a proper
understanding of the accounts to be reached.
Imelda Rogan {BSC. Hons. FCA)
On behalf of Rogan Accountancy Limited
Independent Examiner
Sketrick House
Jubilee Road
Newtownards
Co Down
BT23 4YH

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
Restricted
funds Tolal funds Total funds
2023
Unrestricted
funds
Note
Income and endowments
Donations and legacies
Other trading activities
Total income
1,526
4,189
1.629
3,155
4,189
7,344
4,725
1,174
5,715
1.629
5,899
Expenditure
Expenditure on raising funds:
Costs of other trading activities
Expenditure on charitable activities
Total expenditure
1,894
4,090
1,894
6,938
134
10,810
2.849
5,984
2,849
8,832
10,944
Net expenditure and net movement in
funds
(269)
{1.220}
(1.488)
(5,045)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
2.085
2,506
4,591
9,636
1,816
1.286
3,102
4,592
The statement of financial aclivities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 forni part of these financial statements.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Nole
Fixed assets
Tangible fixed assets
14
620
Current assets
Cash at bank and in hand
3,103
4,691
Creditors: amounts falling due within one year
Net current assets
15
720
3,103
3,971
Total assets less currenl liabililies
3,103
3,103
4,591
Net assets
4,591
Funds of the charily
Restricted funds
Unrestricted funds
1,286
1,816
3,102
2,506
2,086
Total charity funds
16
4,592
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities-
The members have not required the company to obtain an audit of its financial statements for the
year in question in accordance wwth section 476-
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject lo Ihe small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 30
October 2025, and are signed on behalf of the board by:
Jthieg EllitrF+
6tstx
Mr J Elliott
Officer
Mrs E Roddy
Officer
The notes on pages 9 to 16 forni part of these financial statements.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2024
2024
2023
Cash flows from operating activities
Net expenditure
(1,488)
(5,045)
Adjustments for."
Depreciation of tangible fixed assets
Interest payable and similar charges
Accrued lincomellexpenses
620
397
(720)
2,724
378
Changes in..
Trade and other debtors
754
Cash generated from operations
(1,191)
Interest paid
Net cash used in operating activities
(397)
(1,588)
(378)
(1,549)
Net decrease in cash and cash equivalents
Cash and cash equivalenls at beginning of year
Cash and cash equivalents at end of year
(1,588)
4,691
3,103
(1,549)
6,241
4,692
The notes on pages 9 to 16 forni part of these financial statements.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered off ice
is 15a The Strand, Portaferry. Co Down. BT22 1 PF.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of
Recommended Practice applicable to charilies preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {Charities
SORP {FRS 102)) and the Companies Act 2006.
Accounling policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainlies about the charwty's ability to continue.
Judgements and key sources of estimation uncertainty
The following estimate has been used in the preparation of the financial statements.. Estimated
useful life of equipment is 5 years.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the officers for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal. and fall into one of two sub-classes.. restricted income funds or
endowment lunds.

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Accounting policies (contlnued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charily. it is probable that the economic benefits associated with the Iransaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of
financial activities to which it relates:
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims tor the benefit of ils beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable lo a single activily are allocated directly to that activity. Shared cosls are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
10

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Accounting policies (contlnued)
Tangible assets (Conlinued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain. in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual
value, over the useful economic life of that asset as follows:
Equipment
20 % slraighl line
Impairmenl of fixed assels
A review for indicators of impairment is carried oul at each reporling date, wilh the recoverable
amount being estimated where such indicators exisl. Where the carrying value exceeds the
recoverable amounl, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing. when it is not possible to estimate the recoverable
amount of an individual asset. an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured al amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
11

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Accounting policies (contlnued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value. with any changes
recognised in the stalement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significanl, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial assel that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Limited by guarantee
The Trust is a company limited by guarantee and d￿5 not have share capital. The liability of
each member is limited to an amount not exceeding £1.
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Donalions from members of the public
Corporate Donations
Exhibition Donations
557
400
569
557
400
569
Grants
Ards and North Down Borough Council
County Down Rural Community Network
DAERA Grant
1.629
1,629
1.526
1,629
3,155
12

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Donations and legacies (continued)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donations
Donations from members of the public
Corporate Donations
Exhibition Donations
1,167
1,167
886
Grants
Ards and North Down Borough Council
County Down Rural Community Network
DAERA Grant
1.296
1,296
50
1,326
50
1,326
2.103
2,622
4,725
Olher Irading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising events
Other activities for generating funds
1,695
2,494
1.695
2.494
904
270
904
270
4.189
4,189
1,174
1,174
Cosis of other trading activities
Unrestricted Tolal Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising trading & events
1.894
1,894
134
134
13

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Maritime Education
The Carol Ship
The Ropewalk
Support costs
344
344
2,865
881
1,369
1,480
4,233
2,361
4.090
2,849
6.938
Unreslricted
Funds
Restricted Total Funds
Funds
2023
Maritime Education
The Carol Ship
The Ropewalk
Support costs
475
475
450
6,733
3,152
450
4,331
565
2,402
2,586
5.463
5,346
10,810
Expenditure on chariiable activities by activity type
Activities
undertaken
directly
Support Total funds
costs
2024
Total fund
2023
Maritime Education
The Carol Ship
The Ropewalk
Governance costs
344
344
475
450
6,733
3,152
4,233
4,233
2,361
6,938
2.361
4,577
2.361
10,810
10. Net expenditure
Net expenditure is slated after chargingl(crediling)-
2024
2023
Depreciation of tangible fixed assets
620
2,724
11. Independent examination fees
2024
2023
Fees payable to the independent examiner for-
Independent examinalion of the financial statements
500
500
14

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
12. Trustee remuneration and expenses
Trustees participate on a fully voluntary basis and no trustee re￿iVed remuneration or benefits
during the year.
13. Transfers between funds
There were no transfers between funds during the year.
14. Tangible fixed assels
Equipment
Total
Cosi
At 1 January 2024 and 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
29,272
29,272
28,652
620
28,652
620
29,272
29,272
Carrying amount
At 31 December 2024
At 31 December 2023
620
620
15. Creditors: amounts falling due wilhin one year
2024
2023
Accruals and deferred income
720
16. Analysis of charitable funds
Unrestricled funds
At
1 January 20
24
Al
31 Decembe
r 2024
Income Expenditure
General funds
2,085
5.715
(5,984)
1,816
At
1 January 20
23
At
31 December
2023
Income Expenditure
General funds
4,406
3.277
(5,597)
2,086
15

Portaferry and Strangford Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2024
16. Analysis of charitable funds (contlnued)
Restricted funds
At
1 January 20
24
Al
31 Decembe
r 2024
Income Expenditure
Restricted Funds
2,506
1,629
12,849)
1,286
At
1 January 20
23
At
31 December
2023
Income Expenditure
Restricted Funds
5,230
2.622
15,346)
2,506
17. Analysis of changes in nel debt
At
At
1 Jan 2024 Cash flows 31 Dec 2024
Cash at bank and in hand
4,691
(1,588)
3,103
16