PORTADOWN FESTIVAL ASSOCIATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
Charity Number NIC100622

PORTADOWN FESTIVAL ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
CONTENTS
PAGE
Charity reference number and administrative details
Trustees annual report
Independent examiner's report to the trustees
Statement of financial activities
Balance sheet
Statement of cash flows
Notes to the financial statements
10
The following pages do not form part of the financial statements
Detailed notes on the financial statements
17

PORTADOWN FESTIVAL ASSOCIATION
CHARITY REFERENCE NUMBER AND ADMINISTRATIVE DETAILS
YEAR ENDED 30 JUNE 2023
Page 1
Registei"e(I charity najne
Poitadoiiiii festival Associatioii
Chai'ity nuJnbeJ"
NIC 1006??
Contacl adcli.ess
?i Eiiiiisci'oiie Pai-k-
PoitadoM'II
Ci'aigc2VOII
BT6J iDQ
Trustees
Mi's K Adaiiis
Mi. T l-lulloii
Mi-s D Kaiie
iidepen(lent examinei.
Jacksoii Aiidi-emls
Cliaitei-ed Accolllltaiits & St<1tLltoiy ALidiloi'
Aiidi'as HoLlSe
60 Gi-eal Victoi'ia Sti-eet
Belfast
BT? 7ET
Bi< nliers
Ulster B1( IIL
?0 l-ljoli Sli-eet
Poi'tadoiiiii
Ci-ai(ravoii
BT6? IHU

PORTADOWN FESTIVAL ASSOCIATION
Page 2
TRUSTEES ANNUAL REPORT
YEAR ENDED 30 JUNE 2023
Tlie ti-ustees pi'eseiit tlieii- i-epoi'l c111cI fiiiaiicic11 slateiiieiits of tlie cliai'it), foi. tlic yeai. eiicled JOIII Jiiiie
Tlie Ii-lislees 131cve adopted Ilie pi-ovisioiis of ii)e Stateliieiit of Recoiiiiiieiided (SORP)
'AccoLllltiiig aiid Rei)oitiii(r by Clilc rilies (fRS 102) iii pi'ei)ai'iiig Ilie aiiiiLial I'ei)oit aiid fiiiaiicial
slateiiieiits of tlie cliai'ity.
Tlie fiiiaiicial stateinei)ts Iiave beeii pi'epl£ l-cd iii accoi'daiice witli tlie clceountiiig policies sel oiit iii
Iiotes to tlie finaiicial stateiiiciits aiid coini)l}' ¥vitli Ilie cliai'ity-s govei'iijii(5 dociiiiieiil, cliarity laiii loi-
Noitliei-ii Irelaiid cl1)d 'Cliai'ities SORP (F RS 102) (sccoiid editioii
October ?019) AccoLllltiiio aiid
Repoi-till(J by Cliarilies.. Staleiiieiil of Recoiiiiiieiided Pr1( Cticc l< pplicable to cliai-ities pi'epai'iii(F Ilieii-
accoLlllts iii accoi-daiice witli tlie fiiiaiicial Repoitiiig Slaiidai-d ai)plicable iii Ilie Uiiited Kiiigdoiii aiid
IlepLiblic of li'elaiid (Flls I O?):: tlie '"fi11lc Iicial Repoiliiio Siaiid1c i-d ai)plicc1ble iii tlie Uiiited l(jiirtdoiii
asid RepLiblic of Ii'elaiid (FRS 10?) (N4ai'cli ?018)" CI11( l-iiics Act (Noi'llieiii Ii-elaiid) ?008. Tlie
Cliai-ilies (ALCOlllItS <11id Repoi-ls) Regiilatioiis (Nloiiliei-ii Ii-elaiid) ?0 l i 1( lid UK Geiiei'ally Accepted
AccoLllltiiig Pi-actice.
REFERENCE AND ADMINISTRATIVE DETAILS
Refei'eiice aiid adiiiiiiisli'ative details 1< I'e slioiiiii iii tlie scliedLile of tl-LlStees of tlie cliai-il), aiid
pi-ofessioiial advisei's oli paoe l of tlie finaiicial stalenieiils.
Registei"ecl chai-ity, name
Poi-tadowiii Festival Associatioii
Cliai"it)' nunibei.
NIC 10069?
CoIitact address
2J Eiiiiisci-oiie Pai'k
PoitadoM'Ii
Ci-aioavoii
BT6J 5DQ
Tlie ti-ustees wlio sei'ved dLlI-iiig tlie yeai- wei'e as lolloiYs=
Mi's K Adaiiis
MI. T FILlttoii
Mi's D Kaiie
(Appoiiited ??Iid Sepieiiiber ?02?)
PUBLIC BENEFIT STATEM[￿'T
Tlie Boai'd of TrLlStees of tlie Portadowii Festival Associatioii confiiill tliat tliey liad diie regai'd for tlie
Oliidaiice pi'odiiced on piiblic beiiefit by Ilie C111£ 1'itJ' Coininission foi- Noi11ierii li'elaiid and al-e pleased
to I'epoit tliat diii'iiig tlie )ieai- tlie cliaritj, lias coiitiiiiied to provide piiblic beiiefits and ive iEf¢i' lo tlie
Oliidaiice Hilieii i-evieivii](y oiii. aiiiis aiid objectives aiid iii plaiiiiiiig oiii. fLltiiir actii'ities.
OBJECTIVES AND ACTIVITIES
Tlie piii-i)ose and cliai'itable objecliiie ot- Ilie cliai-ity is to faci lil£lle pei'foi-iiiei's iii tlie pei-foriiiiiig ails iii
Speecli. Di'aiiia: Folk. Daiiciiig. MLISIC aiid Daiice. -l-lie festival is lield ic iiiiiialli, 01- as tlie occasioii
iiiay ai'ise aiid is pei'foi-iiied by aiiiateiii's: jLidoed by pi-ofessioii£ils aiid oi'o(I11ised by voliiiiTeei's. We
i)i'ovide a p11( tfoi-ln foi. tlie i)ei'foi-iiiei's ivlio <l1'e accoiiipaiiicd b￿. 11a1-eiils, gLiai'diaiis oi. leacliei's. Tlie
Fesliv¢11 Llsllcilly coiniiieiices iii late febi'Llc11-)i aiid i-Llll.s IIIi'oLigli lo beoji]iijiio of Mi ali cacli )'car.
AItIIoLigli tlic Festival is lield iii Poi-Ii¢ doii'ii e2( cli 5cclioii I'eceives eiili'ies fi'oiii aii(I Ilii-o(Iglioiil tlie
Pi-oviiice.
Poit1( doiiiii Feslival AssoLi£ltioii is affil iclted to "file Bi'itisli 1( Iicl Iiilei'ii£lti0111c l Fedei'c1tioii ol. festivals t-oi-
I liisic. D2( lice ciiid SpeeLII.

Page 3
PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT {
continued)
YEAR ENDED 30 JUNE 2023
OBJECTIVIS AND ACTIVITIES (continued)
Tlie FestiV1c l oives the oppoituiiits, foi- ainaleLII'5 to foi-iii ali 11PPI'ecic2tioii of aitislic staiid<11'ds. to
pei-foi'iii aiid be assessed: eiicoL117ged aiid iiispii'ed b)1 aclive pi'ofessioiial adjiidicaloi's. Pi-ep1c i-iiig foi-
aiid i)ei-foi-iiTrjiio at Ic Festival iiivolves yOLlii(r people iii gi-oiip acliiiity c11id iiidivid111c l acliieveiiieiit.
Tliey (Faiii a deei)er appi'eciatioii of tlieii. i'epeitoii'e aiid of tlie Hioi-L of oiliei's. Eacl) i)crfoi'iiiei- oi. gi'oLIP
I'eceives ivi'itteii fccdback fi'oin tlie adjLidicator. 11 lioiies sk.ills li) groiip work: tiiiie Iiiaiiaoeiiieiit,
li.qteiiiii(y evc21iiatioii: pi-eseiilatioii. iiidividLial I'eliaiice. Ineetiii<J deadliiies: IVc1tcliiiig aiid assessiiio.
Cvei-y skill gaiiied iii pi'epai'iiio foi. aiid giviiig a pei'foi'iiiaiice is a valiiable lifc sk-ill ivliicli Hiill bL iised
It job iiitei'views. iii tlic Kiioi'kplace. iii leisLlI-e (Ictivities aiid iiiteriiei-soiial I'elaiioiisliips Ilii'oiig71i0111 life.
Tlie day to day i-liiiiijiio of tlie cliai'ity lias beeii desioiiated to Mi. T I-ILilloi). Ii-LlStee.
STRUCTURE, GOVERNANCE AND IlqANAGLMENT
Govei'ning Ilocument
Tlie Poi1adoi4111 Festiiial Associ<ltioii ivas establislied iii 19?? aiid tlie pi'esei)t coiislitiitioii was foii)iallv
appi-oved by tlie iiieiiibei's oli IJ,
Noveiiibei. ?014. Tlie cliai-it)i Th'as i-egistei'ed ivitli Tlie Cliai-ity
Coi)Iiiiissioii foi- Noilliei'ii Ii-elaiid oli I, Deceinber ?014. Liiidei- I'efei-eiice NIC 1006??
Reci"uitment, ai)i)ointment, ill(liJction and tl-l¢ iniIi(F
Tl)e pi'eseiit Ii-Lislees ve beeii iiivolved iii tlie cliai'ii), for a Iiiiiiibci. of yeai's aiid so are faiiiiliar iiiitli
its wot'k. Tlie ti-listees I'egLilai-ly revieii, Ilie i'eqLliI-eiiieiits of tlie Lli<11'1ty aiid tlie i)ossibilit)i of a i)eed foi-
additioiial tl'LlStees. Aiiy Iiew tl'Lislee5 Ivould be appoiiiled by i-esolLltioi) of a Ineetiiiil of all tlie ti'ustees
i)assed by a iiiajoi-ily of Iliose pi-esent. Appi'opi'iaie ti'aiiiiiig and iiiductioii is available to al I trLlStees.
Financial i'isk n)ana£vciiient objectives ancl ti'aining
Tlie tl-LlStees liave oveizll respoiisibility foi- eiiSLlI-jllO tl)at tlie cliai'ity lias iii place ali appropi'iate s)(steiii
of conti'ols, f1111£ iicial aiid otlierwise, to provide assui7iice tliat:
tlie cliai-ity is opcratii)g effectively.
its assets are safegLiai-ded aiFaiiisl iiiiaiitlioi'ised Lise or dispositioii;
pi'oi)er i-ecoi'ds al'e Inaintaiiied aiid tiiiaiicial i1ifoiiiiatioii iised Miitliin Il)e cliai'ity or foi.
piiblicatioii is I'eliable:
tlie cliai-ity coiiipl ies witli relevaiit law5 aiid 1-e￿illatiO1]s- 1( lid
tlie cl)ai-ity's systeiiis of fiiiaiicial coiili'ol are desigiied to provide i-easoiiable. biit iiot absolLlte
assiii'aiice agaiiist Iiiatei'ial illisstateiiieiit oi. loss.
Tlie triistees liave clssessed tlie Inajor i-isk-s to Miliicli tlie cliai'ily is exposed: iii paiticiilai- tliose related
to tlie opei-atioiis aiid fiiicliices of tlie cliai-il),. Tlie tl-LlStecs al'e satisfied tliat sysleiiis at'e iii i)laLe to
iiiitioate aiiy exposiii'e lo Inajoi- i-isks.
ACHIEVEMENTS AND PIRFOIIMANCC
Total iiicoiiie foi. tlie )ieai- Hias £67.0?7 (?02? _ £46.947). Iiicoiiie dei-jiied fi'oiii doiiatiolls c111d leg1( cies
aiiioiiiited to £65.867 (?0?2 - £46.864) aiid iiivestiiieiit iiicoine totalled £1.160 (-
?0?? _ £8J).
Tolal expeiiditiii'e for tlie yeai. ainoiiiited lo £i9.?14 (?02? £48,J6)). Tlie cost of cliai'itable cicliiiil les
aiiioLlllted to £i9.?14 (•0?* _ £48.J6i).
Tlie iiet iiicoii)e foi. Ilie ye¢l1- Ic Illollllted Lo .£7.81 i (?0?? _ Iiei e.KpeiiditLlI-e or £1.416).

PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT {continued)
YEAR ENDED 30 JUNE 2023
Page 4
ACHIEVIMEI NTS AND PF.RFORIMANCE (continued)
Tlie Triistees coiisidei's tliat tl)e cliarit}' is iii a Scltisfacloi-y positioii to caiTy oli ils cliai-ilable aclivilies.
A Festival was plaiiiied. prepaiEd aiid took place fi-oiii Febi'Liary to May.. spread ?< CI-OSS J6 days 14,liicli
incliided 5 secti0115 of Speecli. Di-aiiia, Ii-isli folk. Daiiciiig. MLISIL aiicl Daiice. Tlie Festival was
pei-foi-med iii Poi-tadowii Towii Hal l aiid Ci'aiiyavoii Civic aiid Coiifei-eiice Centi'e.
Tlie coniineiits of the paitiCiP2< Ilts aiid tliose I'espoiisible for enlei'iiig tlieiii wei'e coiisisteiitly positive
and 110 coinplaints I'eceived.
Tlie adjLidicators eiii)atred foi. tlie festiv<11 pi-ovided ali excelleiit sei-vice Foi. eacli sectioii of tlie
Festival: all Inakiiio vei'}I sigiii ficaiit coiiti-ibiitioiis to tlie eveiit-s SLiccess aiid all offei'iiig coiiiiiieiTrls oli
tlie Iiigli staiidards of tlie eiitries wliicli tliey assessed.
Tlie Festival was delivei-ed oli bLidoel. <11Id tlie cliai-it)I s fiiiaiicial aiid otliei- i-esoLlI'ces i-einain soiiiid
aiid seciii'e.
FINANCIAL REVIEW
Resej-ves policy
It is tlie pol icy ot tlie cliai'ity to iiiaiiitaiii fl'ee resei-ves M,liicli iiiatclies Ilie iieeds of Ilie 01-gaiiisalioii.
bolli at tlie CLllI-eiit tiiiie aiid iii tlie foi-cseeable fLItLlI'e. T]iis pi-ovides SLifficieiit fiiiids to covei- riinniiig
costs wliicli iiiclLide InaiiaiTeiiieiil: c1diiiiiiisti.atioii aiid SLlI)POIt costs. ri'ce i-esei'ves al-e Iliose
uni-estricted resei'ves not desi(Fiiated iioi. iiivested iii fixed assets wliicli al'e available foi- geiieral Iise.
Tlie chai-ity lias iiiirestricted fiiiids cari-ied foi'iiTai'd at )0 .ILlllC ?023 of £89:9iJ (?022: £82.140).
Fuiidin
Tlie i)i-incipal SOLlI-ces of fuiidiii(F is fi-oin
Eiiti-y fees paid by or for tliose who took" pait iii tlie Festival
A Graiit fi-0111 Aimaoli City, Baiibi-idge aiid Craigc2VOlI Boi-OLigli CoLiiiciI
Tlie fLlllds i-aised are spent inaiiilj, oil tlie fees aiid expeiises pa)iable to tlie Adjiidicators aiid
the venLies
PLANS FOR fuTURC PERIODS
To coiitlllLie to liold tlie FeslivaS aiinLial ly.
STATEMENT OF RESPONSIBILTIES OF THI TRUSTF.ES
Tlie Boai-d of Ti-LlStees <ll'e I'espoiisible foi. pi'ep£ll-jll(r Ilie fiiiaiicial slateineiits iii accoi'daiice Hiitli
pplicable law aiid Uiiited Kiiigdoiii AccoLllltiiio Slaiidai'ds (Uiiitcd Kiii(rdoiii Geiiei-dlly Accepted
Accolllltiiig Pi-actice).
Tlie laiv applicable to cliai'ities iii Noi-lliei-ii Ii'elaiid i-eqLliI'es tlie li'iislees lo pi-ep<l1-e f1111c iicial st1( teiiieiits
toi. eacli fiiiaiieial )iear ivliicli oive a Ii'Lie aiid fail. iiicHi of Ilie stale of aflaii's of tlie cliai'ity aiid of tlie
iiicoiiiiiig I'esoLlI'ces 1( lid applicatioi) of I'esoiii'Les of Ilic cliai-il).. for Iliai pci'iod.

PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT(
Page 5
corRtAnued)
YEAR ENDED 30 JUNE 2023
STATEMEINT OF RESPONSIBILTIES OF Tiif TRUSTEES fcon(inuedJ
11 pi-cpariiig tliese tiiiaiicial slaleiiieiits. Ilie tl-LlStees al-e i-eqLliI'ed to:
select Sllitable accoLintiiig policie5 aiid ilieii apply tlieiii c0115iSteiitl)';
obseive tlie iiieiliods aiid pi'iiiciples iii Ilie Cliarities SORP (FRS 10?) (secoiid editioii
Octobei- 2019)-
Inake jiidoeineiits aiid estiinates Iliat al-e i-easoi)able aiid pi'Lideiit;
state wlietliei. c1pplicable c1CCOUlltiiig staiidai'ds liave beeii followed. SLibjecl to aiiy Imaiei-ial
depaitLlI-es disclosed aiid exi)ILiiiied iii tlie fiiiaiicil< I Sl£1tciiieiits-
pi'epai-e tlie t1111c iicial stateiiieiits oli tlie ooiiig coiicei'ii basis Liiiless it is iiiappi-opi'iale lo
pi-esLiiiie tliat tlie cliarit)i ￿111 l Lolltiiiiie iii opei-atioii.
Tl)e tl-LlStees al-e i-espoiisible foi. keepiiio i)I'opei- accoLllltiii(r I'ecoi-ds tlial disclose witli i-easoiiable
acciii-acy at aiiy tiiiie ilie fiiiaiicial positioii of tlie cliai'it)i aiid eiiable tlieiii lo eiiSLlI'e tlial Ilie fiiiaiicial
stateiiieiits coinply witli tlie cliai-ities legislc1tioii foi- Noi-tlici-n Ii'elaiid 1( nd tlic pi-ovisioiis ol- Ilie Ii-iist
deed. Tliey at'e also i-espoiisible foi. safeuiiai-diiio tlie assets of tlie cliai-ity aiid lieiice foi- lakiiig
i'easoiiable steps for tlie pi'eveiitioii aiid detectioii of fi-aLid aiid otliei. ii-i-eoLilarilies.
Tlie IrLlStees are Itspoiisible for tlie iiiaiiiteiiai)ce aiid iiitegi-ity of tlie cliai'ily and fiiiaiicial iiifoi-iiialioii
iiicliided oli tlie cliai-ity's H'ebsite. Le(Jislatioii iii tlie Uiiited Kiiigdoiii oovei'iijiio 11)e pi'ei)ai'1c lioii aiid
disseinii)atioii of fiiiaiicial stateiiients Ina), di ffei. ti'oiii legislatioii iii otliei. jiirisdictioiis.
Disclosui'e of infoi-mation to indepcn(leiit ininet-
So fai- as eacli of tlie ti'ustees iii office at tlie date of appi'oval of tliese fiiiaiicial stateineiits is aiiiai'e..
tliei'e is iio i-elevaiit iiifoi-iiiatioii toi- tlie iiidepeiideiit e,xainiiiatioii of Nvliich tlie cliarity'"s
iiidepeiident exainiiiei- al-e Lll)awc21'e; aiid
tliey liave t1( k-eli all steps tliat they ouglit to liave takeii as tl'LlStecs to iiiaL-e tlieiiiselves aM'aTe of
aii)I I'elevaiit iiifoi-iiiatioii aiid io establisli tlial tlie cliai-it)i"s iiidepeiideiit exc111iiiier al-e amiare of
tliat iiifoi'iiiatioii
INDEPENDENT CXAMINER
Jack-soii Aiidrews will coiitillLie iii office as i51depciideiit exainiiiei. foi. tlie eiisLiiiig yeai..
CONTACT ADDRESS
BY ORDEII OF THE BOARD OF TRUSTCLS
J Eiiiiisci'oiie Pic I-L
Poi'ladoNIiii
C.raioic VOII
Mi's IC Adaiiis
I"I'LlStee
BT6i 5DQ
Ai)pi'oved b)1 tlie Ii-listees 011
..(.1....9.-..2oJ.3.

Page 6
PORTADOWN FESTIVAL ASSOCIATION
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE
PORTADOWN FESTIVAL ASSOCIATION
YEAR ENDED 30 JUNE 2023
l i-epoi-t 01) Ilie accoiiiils of Ilie cliaril), toi- tlie veal- eiicled JO, JLiiie ?0?) MilijLli al'e set oul 011 p
to 16.
<ityes 7
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
Tlie cliai-ity'"s trLislees al-e I'espoiisible foi. tlie pi-epar1ctioii of tlie accolints. Tlie cliai'it) s ti'(Islees
coiisidei. tliat ali aiidit IS 1101 i-eqLliI-ed foi. tliis y'eai- Liiidei. seclioii 65(2) of tlie Cliai'ilies Act (Noi11ierii
li-elaiid) 2008 (tlie Cliai-ities Acl) <liid Iliat ali iiidepeiideiil exaiiiiiiatioii is iieeded. Tlie cliai'il}' is
i)i-epai'in(J acci-Ll£11 accoLllItS c2iid l aiii qLlc11ified to Lll)deitake tlie exaiiiiiiatioii by beiiig (1 qualified
iiieiiibei- of Cliai1ered Accouiilaiits Ii'elaiid.
It is iiiy i-espoiisibil ity to=
eiaiiiiiie tlie accouiits iiiidei- sectioii 65 of tlie Cliai'ilies Act (Nortliei'ii Ii-elaiid) ?008 aiid iiiidei-
seclioii 44(1){c)'.
follow ilie pi-ocedLlI-es laid doivii bi, tlie CFeiiei-c11 Dii'ectioiis triveii by tlie Cliarity Coiiiiiiissioii
foi. Noitliei-ii Irelaiid Liiidei. scclioii 6i(9)(b} of ilie Cliai-ities Aci (Noi1Iieni Ii'elaiid) ?008. aiid
state ￿lI]et1]e1- paitiCLilar Iiiatteis Iiave coine to Iny atteiilioii.
BASIS OF INDEPENDENT EXAMINCR'S REPORT
My ex<1111iiiatioii Hias cai-I'ie(l OLIt Iii accoi-daiice wiitli tlie oeiiei'al Dii-ectioiis (Jiveii by Ilie Cliai'itv
Coininissioii for Noitliei-ii Ii'e11c lid. Ali e.Naiiiiiic1tioii iiicl udes cl i-eviciii of tlie accoLllltiiio i-ecoi'ds Lepl l)),
tlie cliai'it), aiid a coiiipai-isoii of tlie accoiiiils PiESeiited Myilli Iliose i-ecoi-ds. It also iiicllides
consideiltioii of aii)I IlllUSLial iteiiis oi. disclosLlI'es iii tlic accoLlllts: aiid seek-iiig explaiialioiis fi'oii) YOLI
as tl-LlStees coiicei-iijiio aiiy siicli Inattci-s. Tlie pi-ocedLlI-es iitideitak-eii do iiot pi-ovide all tlie evideiiee
tliat WOLild be i-eqLliI'ed iii ali aiidit aiid coiiseqLieiitly iio opiiiioii is oiveii a5 to iiilietliei- tlie accouiits
pi-eseiil a '"tl'Lie aiid fail- vieii aiid tlie i'epoit is liiiiited to tliose inattei3 sel OLIt iii tlie Iiexl stateiiienl.
IN'DEPENDENT EXAMRN'ER'S STATEMif4T
lii coiuiectioii witli Iny exaiiiinatioii. 110 Inattei- lias coine to Illy cltleiitioii:
( l ) wliicli gives Ine i'easonable caLise lo belieiie tliat iii an), material I'espect tlie I'eqiiii'eineiits:
lo keep accoLiiiIiii(T i-ecoi'ds iii accoi'dai)ce I4'itli sectioii 63 of Ilie Cliarilies Act ?008: aiid
to pi'epai'e accoiii)ts wliicli accoi'd witli tlie accoiiiitiiio recoi-ds aiid coiiiply witli tlie
accoLllltiiig i-equireiiieiits of tlie Cliai-ities Act ?008
liave not beeii Irjet or
(2) to ii,liicli, 111 111)i opiiiion. atteiitioii slioLild be di'awii iii ol-der to elia
of tlie accoiiiits to be I'eaclied.
le a pi'opei. Liiidei-staiidiii(r
Bijiaii J Fi-iai. fcA (Iiidepei
Cliai-tei'ed AccoLiiilaiits Ii'el¢111
lil exailliiiei-
Aiidras14oiise
60 Gi-eat Vicloi-icl Sti'eet
Belfast
BT? 7ET
Foi- aiid oli belialf of
J1( cksoii Aiidi'evi's
Cliai'lci'ed AccoLiiilc111ts & Slaliitoi), ALiditoi'

PORTADOWN FESTIVAL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
Page 7
YEAR ENDED 30 JUNE 2023
Uni-estricte(I
Fiiii(Is
Total Fiinds
2023
'rotal
Income froni:
Doiiatioiis aiid legacies
Iivestiiieiits
6),867
I,IC)O
6),867
1,160
46.864
83
Tot411 iiiconic
67,027
67,027
I xpen(liture oii:
Cliai'itdble aclivities=
59,214
(48.)6)}
Total eipenilitu re
59,214
(48.J6i)
Net income/(eiiienditui"e) foi- tlle )'eai-
7,813
7,813
(1.416)
Reconeili¢qtion or riiii(1s
Total fLiiids broLiolIt foi'Hiai'd
82,140
89,9)3
Total fiinds iai"i"ieil foi'ii'ai'd
Tlie Stateiiieiil of Fiiiaiicial Activities iiiclLides all gaiiis aiid losses iii Ilie yeai. aiid tlicrefoi-e
a stateineiit of total recogiiised oaii)s aiid losses lias iiol beeii pi'ei)ai-ed.
All of tlie above aiiioiints i'el2c te to contiiiiijiio activities.

PORTADOWN FESTIVAL ASSOCIATION
Page 8
BALANCE SHEET
30 JUNE 2023
2023
?0?2
Note
Curi-ent assets
Debtoi's aiid acci'Lied iiicoine
Casli al baiiL aiid iii liaiid
11
88,8)3
79.640
90,253
8?.440
Cr¢(litoi-s: Ainounts falli1)￿ duc Ivitliin oiic )'eai"
12
(300)
(JOO)
Net cu I"i'ent assctS
89,953
TotL21 rfissets less ciiri.ent liabilities
89,9)3
Net ¥issets
89,9)3
Cliq¢ I"it)' funcls
Uiii'esli-iLted fLiiids
13
89,9)3
Total fiinds
89,953
82.140
Tliese fiiiaiicial st2teineiits ivei-e appi'oved b), tlie ti-listees and aLltlioi-ised foi. iSSLie oil tlie
aiid ale si(Fiied 011 tlieii. belialf by..
b,- IL
Mi's K Adains
Ti'iistee
Mi-s D Kaiie
Ti-LlStee

PORTADOWN FESTIVAL ASSOCIATION
STATEMENT OF CASH FLOWS
Page 9
FOR THE YEAR ENDED 30 JUNE 2023
2023
?0??
Note
Casl) lloii, fi'om opei'ating actii'ities
Net casli floii, I'rom opei?ting aetivities
15
8,053
{4.i99)
(4:i99}
8,053
Casli floii, fi'om inj'esting activitics
Baiik iiitci-cst i-eceivable
1,160
Net casli floii, fi.oiii ini'estinu rfqctii'ities
1,160
Net (leci-ease in casli and cash eqiiii'aleIits
9,213
(4.516)
Casli an(1 casli eq uivalents at l. July 2022
Cash anil casli equii'alents at 30, June 2023
84.li6
88,8)3
79,640
Casli and cash eqiiii'aleiits consist or:
Cas11 at baiik aiid iii liaiid
79.640
Casli <qn(I cash equivalents at 30, Jiiiie 2023
79.640

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
Page 10
YEAR ENDED 30 JUNE 2023
PRINCIPAL ACCOUNTING POLICIES
(a) Gciiei'al infoi'mkition 1¢ nd b£qSiS of pi'epai'atioii
Tlie Poi'tad0￿,1l Festival Associcltioii is a cliai'it)i aiid is I'eoistei'ed iii Noi-tliei-ii Ii-elai)d. Tlie
address of tlie i-e(yistei-ed office is giveii iii tlie chai-ity iiiforiiiatioii oli page l of iliese fiiiaiicial
staleiiieiits.
Tl)e cliai-it)i is establislied Liiidei- cl TrLisI deed.
Tlie cliai'ilS' Colistiliiles a Pliblic beiietil eiitity as defiiied by FRS 102.
Stateiiieiit of coiii
liaiice
TIIL fiiiaiicial stateiiieiits Iiave beeli pi'ep£ll-ed iii accoi-daiice witli Ilie accoiiiitiiio
policies sel oiit iii
iiotes lo tlic fiiiaiicial slaleiiieiits 2< lid coini)l}' Niiiili tlie cliai'ily's oovei'i]jiio docLiiiieiil. cliai'ili, laiii
foi- Noi-Iliei-11 Ii'elaiid aiid 'Cliai'ilies SORP (FRS 10?) (secoiid editioii
Octobei- ?019)
AccoLllltiiig aiid Repoitiiig bv Cliai-ities= Stateiiieiit of Recoiiiiiieiided Pi'actice applicable to
cliai'itie5 pi-epai'iiig tlicii. accoiiiils iii accoi'daiice iiyitli tlie Fiiiaiicial Repoitjiio Staiidai'd api)licable
iii tlie Uiiited Icjii¢Jdoiii aiid RepLiblic of li-elaiid (fRS I O?)" Ilie "fiiiaiicial Repoitjli(F Staiidai-d
applicable in tlie Uiiited kiiiodoiii aiid RepLiblic of Ii'claiid (FRS 10?) (Mi< I'CI] ?018)-': Cliarilies
Act (Noitliei'n Ii'elaiid) 2008, Tlie Cliai-ities (AccoLlllts aiid Repoils} RegLilatioiis (Noiiliei-i)
Ii-elaiid) 2015 aiid UK Geiiei'ally Accepted Accoiintiiio Pi-clctice.
Tlie fiiiai)cial Slateineiits al-e pi'ep£11-ed oli a ooiiig coiicerii basis iiiidei. tlie liistoi'ical cost
coiiveiitioii. Tlie fiiiaiicial stateiiieiils £11'e preseiited iii stei-ljiiu H,Iiicli is Ilie fLlllCtioiial curi'eiic)i of
tlie cliai'it}i aiid i-ouiided to tlie nearest £1
Tlie sioiiificaiit accoiiiitiiio policies applied iii tlie pi-epai'alioii of tliese fiiiaiicial statenieiits are set
oiit below. Tliese policies liave beeii coiisisleiitlv applied to all yeais pi'eseiited Liiiless otlierivise
stated.
Tliese fiiiancial staleinents liave beeii pi'epai-ed Liiidei- tlie Iiistoi'ical cost coiiveiitioii aiid on tlie
acci-lials basis. Last yeai-'s fiiiaiici£11 stateiiieiits Miel'e pi-epai'ed oli a I'eceipis aiid payineiits basis.
Tlie i-esiilts foi- tlie pi'ioi. yeai. Iiave iiot beeii i-estated as tlie adjiistineiits fi-oin receipts basis to
aeci-Lials basis of accoiiiitiiio wet'e iiiiinatei-ial.
(b) Fund accounting
Uiii'esti-icted fLiiids
Tlie Lllli'esti'icted fuiids of tlie cliai-it)I coiisist of (1 Genei-al fLlI)d wliicli is expei)dable al tlie
disci'etioii of tlie triistees iii fLlltlieiziice ot tlie clic11'itable objectives of tlie cliai-itv aiid w,liicli111c S
iiot beeii desioiiated foi- oiliei- piii-poses.
(c) liicoiiic I"eeo¥iiitioii
All iiicoiiiii](y I'esoiii-ces al'e iiicliided iii Ilie Stateiiieiit of Fi111c iicial Activities (SOFA) Ivlieii tlie
cliai'it)i is letsall), eiiiilled to Ilie iiicoiiie aftei- £111y pei-foi-111<111ce coiiditioiis liavL beeii iiiel. Ilie
ainoLllIt cali be Ine<lSLlI-ed i-cliabl) aiid it is pi-obablc t111( I tlie iiicoiiie iiyill be i-eccived.
No aiiioiiiil is iiiclLided iii tlic fiiiaiicial slaleiiieiits t"oi' volLlllteei' tiiiie iii l iiie iiijili tlie SORP IfRS
10?).

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEtVlENTS (Continued)
YEAR ENDED 30 JUNE 2023
Page 11
(c)liicome i-ecooiiition (continuedj
Iiicoiiie fi-oiii govei'iiineiit aiid otliei. gi'1( 17ts al'e iecooiiised at fail- valiie vvlieii tlie cliai-il), lias
eiititleineiit aftei- c111y l)ei-forinaiice coiiditi011s liave bee21 iiiel. it is pi-ob1< ble tlial tlie iiicoiiie ii'ill be
received aiid tlie aiiioLllIt cai) be IneasLlI'ed i-eliablv.
If eiititleiiieiil 15 iiol Inet tlieii Ilie5e aiiiouiits are defei-l'ed. Reveiiue (yraiits al-e ci'ediled to
iiicoiiiiiio i-esoLlI-ces oli Ilie eai-liei. date of wliei) Iliey al'e I'eccived 01- wlieii tlie)i al'e i-eceiiiable,
Linless tliey I'elate to a specified fLIILlI'e pei-iod. Gi'£111ts ivliicli coiiti-ibLlte toivai'(Is specific
expeiiditLlI'e oli fixed asseis are ci'edited to Ilie SOFA 121 fLIII LlPOlI I'eceipi.
((1) E.Ipenclitui'e I'ecognition
All expeiiditiire is accoLlllted foi- oli ali acci-Lials l)asis 1( Iicl lias beeii classi Fied Lll)dei- lieadiiigs t111( t
aggi-eoate all costs I'elaled lo tlie caler%oi'y. CxpeiiditLlI'e is i-eco(riiised ￿lI]e1-e tlici'e is a lecal oi.
coiislrLiclive oblioatioii to niake paviiiei)1s to tliii-d paities. il is pi-obable tliat Ilie settleiiieiit ii.'ill be
I'eqLiired aiid Ilie ainoLllIt of tlie oblj(FatiOll C1( 11 be iiieasLlI-ed reliably. It is catetroi'ised Liiidei. tlie
following lieadi iigs=
Eipeiidiliii-e oli cliai-itablc activities coiiipi-iscs tliose costs IllCLlI'I'ed by tlie cliai'itii in tlie
deliveiv of its activities aiid sei'vices for ils beiieficiai-ies 1£ lid i Iicliides salc11-)I costs <iiid <111
api)oitioiiiiieiit of siippoi-t LOSts-
Otliei. expeiidiiLlI-e i-epi-eseiits tliose iteii)s Iiot falliiig iiito Ilie cateooi-ies above.
(e) Suppoi-t costs 4illocation
SLlPPOIt costs al-e tliose tliat assist the ivoi-k of Ilie cliai'il}' biit do iiot dii'cctly I'epreseiit cliai'ilable
activities: foi. exaiiiple, oovei'iiaiice costs. I'lie aiialysis of tliese costs is iiiclLided iii iiote 5.
Tliey al'e iiicui'i-ed directly iii suppoit of expeiiditui'e oli tlie objects of tlie cliai'ity. Wliere SLlPPOIt
cosls caiiiiot be dii-ectl Ji atti-ibLltc(I to paitlCLilai' lieadiiirss tliey liave beeii allocated to expeiiditui'e
oli cliai-itablc activities 011 a bi1SiS COIISi5teiit ￿1]117 Lise of Il)e I'esoiii'ces.
(fj Taiation
Tlie cliai'ity is iiol registered foi- V AT aiid, accoi'diiigl)i all tlieir expeiiditLlI'e is iiicliisive of aiiy
VA T iliCLlI'I-ed.
(g) Debtoi's aiid ci'e(litoi's I"eceii'able I P¢q}pable Ii'itliin oiie yeai-
DebtOl-5 aiid ci-editoi-s uyitli iio sl<iled iiitei-est late aiid i-eceivable 01- P<llli1ble Kiitliiii oiie )ie2c r are
i-ecoi-ded at ti'aiisactioii pi'ice. Ai)), losses c11'iSilifs froiii iiiipaii'iiieiit 1¢ I-L i-ecogiiiscd iii eNI)eiidilLlI-e.

PORTADOWN FESTIVAL ASSOCIATION
Page 12
NOTES TO THE FINANCIAL STATEMENTS (Continued)
YEAR ENDED 30 JUNE 2023
1. PIIINCIPAL ACCOUNTING POLICIES (continued)
(h) Goino concern
Tlie fiiiaiicial stalemeiiis liave beeii pi'ep<l1-ed oli a oojiig conceiii basis as tlie tl'LlStees believe
tlial iio iiialei-ial Liiiceitaiiities exist. Tlie Ii'LlStees lic1ve coiisidei'ed Ilie level ot fLiiids lield aiid
tlie e.xpected level of iiicoiiie aiid expeiiditurc foi- l ? iiioiitlis fi'oin aiillioi'isiii(y tliese fin¢11)cial
stateiiieiits. Tlie biidgeted iiicoiiie aiid cxpeiiditLlI-e is siifficieiit Miitli tlie level of resoiii'ces foi-
Ilie cliai'il), to be £1blc to coiiliiiLie as a (Foiiig coiicci'ii.
(i} Juclgemeiits and l%ey soui'ces of estini?& tion li ncci"tQ& inty
Tl)e pi'epai?lioii of tlie f1111c iicial slateiiients IEqLliI'es tlie ti'iislees to iiiake jlidgciiieiits.
esliinales aiid assiiiiiplioiis Ili¢lt ¢2ffecl Ilie 1( IIIOLllllS i-epoi'ted. Tliese csliiiic1tes 1£ lid j Lidgeiiieiits
al-e coiitillLl<111y I'evieived i111d al'e based oli expei-ieiice aiid otliei- factoi-s. iiicliidii]
ekpectatioiis of fLItLlI-e evciits tliat al'e belieiied to be i-easoiiable uiidei- tlie cii'CLlIMStances.
INCOME fROIIq DONATIONS AND LF.GACIES
Un I'esti-icted
Fuii(Is
Uiii'esiricted
riiiids
Total
iiiids
Funds
2023
Dail)i adii)issioii aiid pi'otrraiiiiiie
sales
Conipetitoi- eiiti'y fees
Gi?iit- ABC Couiicil
Spoiisoi's
Seasoii tick.et sales
Music bLlI-sai'ies
Hospitality sales
16.618
?O.i71
2.800
4.430
?.020
16.618
?O,i71
20,194
8,217
9,295
2,969
8,217
9,29)
2,969
?.020
788
788
125
1?5
6),867
6),867
46,864
46.864
INCOMf FROM INVESTMENTS
UII I'esti'icte(I
Fui)(Is
Total
Fu ii(Is
2023
Uiiresti'icted
FLiiids
Total
Fuiids
B1( lik iiitei'cst i-eceiiic1ble
,160
1,160
1,160
1,160

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS fcontinuedj
YEAR ENDED 30 JUNE 2023
Page 13
ANALYSIS OF Expf.NDITURf. ON CHARITABLE ACTIVITIIS
Activilies
iiiidci'icikeii
Dii-ectlv
Uiii"esti'ictc(l Resti'icte(I
Total
Tot<il
2023
2023
Siippoit
costs
Total
2023
Festival
56.488
59,214
i6.488
Activities
iiiidei'lakeii
Dii-ectl),
Uiii-cslricted Rcsti'icted
Total
Total
202?
?0??
SLII)POI
costs
Total
?0??
restival
4).685
45.68)
ALLOCATION OF SUPPORT COSTS
Basis of
al locatioii
Total
2023
Total
Fc5tival
Festival
Govei-naiice
Affiliation,
Slibsci'ipiioiis,
iiisiii'aiice & liceiises
Geiieral expeiises
BaiiL fees
Tiine speiit
300
300
300
JOO
Cost
Cost
Cost
1,031
1,293
102
1,031
1,293
102
977
6?
977
6?
2,726
2,726
2,678
?,678
GOVERNANCE COSTS
UIii-esti-icte(I
run(Is
Total
Fiiti(Is
2023
Uiu-esli'ictcd
FLiiids
Tolal
Fiiiids
Iiidei)eiidei)t exaiiiii)ei- s
reiniiiiei'alioii
300
300
JOO
300
300
iOO

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS fcontinueaf)
YEAR ENDED 30 JUNE 2023
Page 14
NET EXPENDITURE FOR TJ4E YEAR
Tliis is stated aftei- cliar(rjii(J / (ci'editiiig):
2023
Iiidepeiideiit eYainiiiei-"s reiiiLiiiei'atioii
300
INDF.PENDENT EXAMINLI Il's REMUNEIiATIOYI
Tlie iiidepeiideiil e.xaiiiiiiei.s i-eiiiLiiiei'atioii ainoiiiits to ali iiidepeiideiit exaiiiiiiei-' s fee ol. £iOO (?0??:
£)00) foi. Ilie CLlI-I'eiit iiidepeiideiit e,Yaiiiiiiei-.
TRUSTEES, AND KIY MANGEMENT PEIISONNEL REMUNCRATION AND EXPENSES
Tlie tl-LlStees Iieitliei. I'eceiiied iioi- Il'aiiied aii)i i-einuiiei-atioii dLlI-jiio Ilie yeai- (?0??= £Nil).
Tlie total £111l0UlIt of eiiiplo)'ee beiiefits i-eceived by key iiiaiia(yeiiieiil pei-soiiiiel is £Nil (?O!?- £Nil).
Tlie cliai-it)I coiisidei-s its ke), iiiaiiaoeiiieiit pei'soiiiiel to be tlic Ii'LlStees.
Ni l {?0?? Nljl) Iriistees cll-e acci'Lllll>(F Iieiisioii ai'i'aiigeiiieiits.
Tlie ti-ustees did iiot11l< ve aiiy exi)eiises i-einibiirsed diii'jiio tlie y¢ai' (20?? _ £Nil).
10. STAFF COSTS AND IMPLOYEI BENIFITS
Tlie averaoe Inoiitlil)I IlLiinbei- of eiiiplo)iees inclLidiii(y ti-lislees dLlI'iI?g the yeai. was as folloii's=
2023
i unibei-
20??
NLiiiibei-
Cliai'itable activities
11. DIBTORS: AMI OUNTS FALLING DUE WITHIN ONI YEAR
2023
?0??
Pi-ep?< yiiieiits aiid acci-lied iiicoiiie
1,400

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 JUNE 2023
Page 15
12. CREDITORS.. AMOUNTS FALLIING DUI WITHIN ONE YEAR
2023
Acci-lials
300
300
300
13. FUND RECONCILIATION
Unresti'icte(I fuii(Is
Balance at
l Jul 2022
Ba141nce 4?t
30 Jun 2023
Income
Expen(litiii"e
Ti'ansfei"s
Uiii'estricted tiiiid
67,027
{i9,214)
89,953
Balaiice at
I JLII ?O?I
Balaiice al
io Jiiii ?0??
iicoiiie
Eipeiiditiire
Ti'aiisfei's
Uiu-esti'icted fiiiid
46.947
(48:J6))
Fiind (lescription
Tlie iiiii'esti'icted tliiids of tlie cliai-il)i coiisist of a Geiiei-al FLiiid ￿lI]le17 is expeiidable at tlie discretion
of tlie tl'Lislees iii fLlltliei'aiice of tlie cliai'itable obj¢clives of tlie cliarity aiid wliicli lias not beeii
desigiiated foi. otliei- i)Iirposes.
Tlie boai'd coiisidei-s tlie cliai'ity to liave oiie Inaiii cliai'itable activit),: beiiig to advaiice tlie ediicatioii of
tlie public iii tlie ails aiid sciences of MLISIC. Speecli, Di-aiiia. Ii'isli folk Daiiciiig aiid Daiice. b), Ilie
preseiitatioii of coiiceit pei'foi-iiiaiices aiid otliei. activities to be lield aiiiiLiall)i oi. as tlie OCC¢lSlOlI iiiay
ai'ise.
14. ANALYSIS OF NET ASSETS BEI TWEEN FUNDS
Uni-c5ti'icte(I
FiiIi(I
Uiii-e5ti-icted
Total
2023
Casli c1t baiik aiid iii liaiid
Otliei- cui'i'ent assets/(liabililies)
88,853
1,100
88,8)3
I,ioo
79.640
79,640
89,953
89,9i3

PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 JUNE 2023
Page 16
15. RECONCILIATION OF NET EXI'ENDITURE TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2023
Net iiicoine/(eipeiiditLlI-e) foi. tlie sieai.
Baiik iiiiei-est i-eceivable
(Iiici-ease)/Deci-e1c se iii debiois
Inci-ease/(Decrease) iii ci'editoi's
Net casli flow fi-oiii opei'atiiio activities
7,813
(1,160)
(1,416)
{? 8,00)
8,053
(4.599)
16. RELATED PARTY TRANSACTIONS
Tliere were iio related pai1y ti-aiisactioiis dui'iiig tlie )ieai' (?0??: £hljl).
17. ETHICAL STANDARDS
Iii coiniiioii M'itli iiiaiiy otliei- oi'gaiiisatioiis of oiii. size aiid iialiii'e: ￿te Lise oiir iiidepeiideiit eNaiiiiiiei- to
prcpai-e aiid assist iii tlie pi-ep£1ralioii of tlie fiiiaiicial statenieiits.

PORTADOWN FESTIVAL ASSOCIATION
DETAILED STATEllJlENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2023
Page 17
Uii I"esti-icted
Funds
Tot&il Fiinds -l-ola1 Fliiids
2023
2022
Income fi"om:
Donation and eies
Daily adiiiissioii aiid pi'oorainine sales
Coiiipetitoi. ei)tiy fees
Gi-aiit - ABC Coiiiici
Si)oiisors
Scasoii ticL"et sales
Miisic bLlI-sai'ies
14osi)ital iiy sales
24,404
20,194
8,217
16.618
?O,i71
20,194
8,217
9,29)
2,969
2,969
788
788
65,867
65,867
Ini'estnienls
BaiiL- iiitei'est i-eceivable
1,160
1,160
1,160
1,160
Total income
67,027
67,027
46.947
Dii"ect expenses:
VeiiLie liii'e
Adjudicatoi- pi'ofessioiial fees aiid cxpeiises
Aivai'ds aiid iiiedals
Di'aiiia teaill expetises
Accoiiipaiiist aiid expeiises
Pi'iiiling costs
Catei-iiig
20,461
16,814
2,821
2,238
2,)73
3,771
2,001
1,276
I,)25
1,917
211
880
20,461
16,814
2,821
2,238
2,573
3,771
2,001
1,276
12,912
4,658
2.74?
3.?19
1,714
i55
MLISIC bLlI-sai'ies
BIFF Coiifei'eiice
Otliei. Office Costs
Coiiiputei. Costs
1,917
211
880
4).685

PORTADOWN FESTIVAL ASSOCIATION
DETAILED NOTES ON THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Page 18
Uiii'esti-icted
Fil n(Is
Totrfil Fun(Is Tol2( l Fiiiids
2023
Suppoi"t costs:
Affil iatloll: SLibscriptlOll. illSLII-1c nce aiid liceiise fees
Genei-al expeiises
Baiik fees
1,031
1,293
102
1,031
1,293
102
977
2,426
Goi'eriiance costs:
AccoLllltaiicy
300
300
300
300
Total e.ipenditure
59,214
i9,214
Net incon)el(eYpenditui'e) for tlie )'ekii'
7,813
7,813
(1.416)