PORTADOWN FESTIVAL ASSOCIATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
Charity Nurnber NIC100622

PORTADOWN FESTIVAL ASSOCIATION
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
CONTENTS
PAGE
Charity reference number and administrative details
Trustees annual report
Independent examinerfs report to the trustees
Statement of financial activities
Balan￿ 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

Page 1
PORTADOWN FESTIVAL ASSOCIATION
CHARITY REFERENCE NUMBER AND ADMINISTRATIVE DETAILS
YEAR ENDED 30 JUNE 2024
Regislered charity name
Portadown Festival Association
Charity number
NIC 100622
Contact address
98 Kernan Gardens
Portadown
Craigavon
BT63 SRA
Trustees
Mr T Hutton
Mrs D Kane
Independent examiner
GMCG
Chartered Accountants & Statutory Auditor
Alfred House
19 Alfred Street
Bclfast
BT2 8EQ
Bankers
Ulster Bank
20 High Street
Portadown
Craigavon
BT62 1 HU

Page 2
PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT
YEAR ENDED 30 JUNE 2024
Ih
The trustccs prcs¢nt their report and financial statements of the charity for the year ended 30 June
2024. The trust¢¢s have adopted the provisions of the Statement of Recommended (SORP)
-Aceounting and Reporting by Charities" (FRS 102) in preparing the annual rep)rt and financial
statements of the charity.
The financial stst¢ments have been prepared in accordance with the accounting policies s¢1 out in
noles to the financial statements and comply with the charity's governing document, charity law for
Northern Ireland and "Charities SORP (FRS 102) (second edition October 2019) A¢counting and
Reporting by Charities: Sialement of Recommended Practice applicable to charities preparing their
accounts in accordance with ihe Financial Reporting Standard applicable in ihe Uniled Kingdom and
Republic of Ireland (FRS 102)" the "Financial Reporting Standard applicable in the United Kingdom
and Republic of Ircland (FRS 102) (March 2018)" Charities Act (Northern Ireland) 2008, The
Charities (Accounts and Reports) Regulation5 (Northern Ireland) 2015 and UK Gcncrally Accepted
Accountin8 Practice.
REFERENCE AND ADMINISTIL4TIVE DETAILS
Reference and administrativ¢ detsils are shown in the schedule of truslees of th¢ charity and
professional advisers on pa8e l of the financial statements.
Regislered charity name
Portadown Festival Asso¢iation
Charity number
NIC 100622
Conlact address
98 Kernan Gardens
Portadown
Craigavon
BT63 55RA
The trustees who Serv￿ during the year were as follows:
Mrs K Adam5
(R¢sign¢d 19 September 2023)
Mr T Hutton
Mrs D Kane
PUBLIC BENEFIT STATEMENT
The Board of Trustees of the Portadown Festival Association confirni that they had due regard for the
guidance produced on public benefit by the Charity Commission for Northern Ireland and are pleased
to report that durin8 the year the charity has continued to provide public benefits and we refer to the
guidance when reviewing our aims and objectives and in planning our futur¢ activities.
OBJECTIVES AND ACTIVITIES
The purpose and charitabl¢ objective of the charity TS to facilitate perforniers in the perforniing arts in
Speech, Dram4 Folk Dancing, Music and Dance. The Festival is held annually or as the occasion
may arise and is performed by amateurs, judged by professionals and organised by volunteers. We
provide a platforni for the perforniers who arc accompanied by parents, guardians or teachers. Th¢
Festival usually comm¢nc¢s in late February and runs through to be8inning of May each year.
Although thc Festival is held in Portadown each section r¢c¢iv¢s entries from and throughout the
Provinc¢.
Portadown Festival Association is affiliated to The British and International Federation of Festivals for
Music. Dance and Speech.

Page 3
PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT (¢onllnu•d)
YEAR ENDED 30 JUNE 2024
OWECTIVES AND ACTivrrIES (willnued)
The Festival gives the opportunity for amateurs to forni an appreciation of artistic standards, to
perform and be assessed, encouraged and inspired by active professional adjudicators. Preparing for
and perforniing at a Festival involves young people in group activity and individual achievement.
They gain a deeper appreciation of their repertoire and of the work of others. Each pcrfornier or group
receives written feedback from the adjudicator. It hones skills in group work. time management,
listening, evaluation, presentation, individual reliance, meeting deadlines, watching and assessing,
Every skill gained in preparing for and giving a perforn)ance is a valuable life skill which will be used
at job interviews, in ihe workplace, in leisure activities and interpersonal relationships throu8houi life.
The day to day runnin8 of the charity has been designated to Mr T Hutton, trustee.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Portadown Festival Association was established in 1922 and ihe present constitution was fornially
approved by the members on 131h November 2014. Th¢ charity was registered with The Charity
Commission for Northern Ireland on 1° December 2014, under reference NIC 100622.
Reeruitment* aPPOjDlment, Induction aud IrainiDg
The present trustees have been involved in the charity for a number of years and so ar¢ familiar with
its work. The trustees regularly review the requirements of the charity and the possibility of a need for
additional irustees. Any new trustees would be appoinled by resolution of a meeting of all the trustees
passed by a majority of those present. Appropriate training and induction is available to all trust¢¢s.
Financial risk management objectives And training
The trustees have overall r¢sponsibility for ensuring that th¢ charity has in place an appropriate system
of controls, financial and oiherwise, to provid¢ assurance that:
th¢ charity is operating effeetiv¢ly'
• it5 assets are safeguarded against unauthorised use or disw)sition;
proper records are maintained and financial inforniation used within the charity or for
publication is reliable;
the charity complics with relevant laws and re8ulations; and
the charity's systems of financial control are designed to provide reasonable, but not absolute
assurance against material misstatement or loss.
The trustees have assessed the major risks to which the charity is exposed, in particular those related
to the operations and financcs of thc charity. The trustees are satisfied that systems are in pla¢e to
mitigate any exposure to major risks.
ACHIEVEMENTS AND PERFORMAIYCE
Total income for the year was £77,423 (2023 - £67,027). Income derived from donalions and legacies
amounted to £74.263 (2023 - £65,867) and investment incom¢ totall¢d £3,160 (2023 - £1,160).
Total expenditure for the year amounted to £69,944 (2023 - £59,214). The cost of charitable activities
amounted to £69,944 (2023 - £59.214).
The net income for the year amounted to £7,479 (2023 - net income of 7,813).

Page 4
PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT (contlnu
YEAR ENDED 30 JUNE 2024
ACHIEVEMENTS AND PERFORIWCE {contInu
The Trustees considers that the charity is in a satisfactory position to cary on its charitable activities.
A Festival was planned, prepared and took place from February to May, spread across 40 days which
included 5 seclions of Speech. Drama, Irish Folk Dancing, Music and Dance. The Festival was
perfornied in Portadown Town Hall, The Salvation Arn)y Hall and Crai8avon Civic and Confercnce
Centre.
The comments of the participants and those responsible for enterin8 them were consistently positive
and one complaint r¢¢¢iv¢d which was addressed by a sub-committee in consultation with BIFF. A
reply was sent and no follow up.
The adjudicators engaged for the Festival provided an excellent service for each section of the
Festival, all making very significant contributions to the event's success and all offering comments on
th¢ high standards of the entries which they assessed.
The Festival was delivered on budget, and the charity's financial and other resources remain sound
and secure.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain free reserves which mat¢h¢s the needs of the organisation,
both at the current tim¢ and in the fores¢¢able future. This provides sufficient funds to cover running
costs whi¢h in¢lud¢ management, administration and support Costs. Free r¢s¢rves are those
unrestricted reserves not designated nor invested in fixed assets which a￿ available for general use.
The charity has unrestricted funds carried forward at 30 June 2024 of £97,432 (2023: £89,953).
Funding
The principal sources of funding is from .
Entry fees paid by or for those who took part in the Festival
Box office takings. CoTllTnittec fecs and Season Ticket fees
A Grant from Arn)agh City, Banbridge and Craigavon Borough Council
The funds raised are spent mainly on the fees and ¢xp¢ns¢s payable to th¢ Adjudicators and
the venues
PLANS FOR FUTURE PEIUODS
To continue to hold the Festival annually.
STATEMENT OF RESPONSIBILTIES OF THE TRUSTEES
The Board of Trnstees are responsible for preparing the financial statements in accordan￿ with
applieable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practi¢e).
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statemenls
for each finan¢ial year whi¢h give a true and fair view of the state of affairs of the charity and of the
incoming resources and application of resources of the charity for that period.

PWS
PORTADOWN FESTIVAL ASSOCIATION
TRUSTEES ANNUAL REPORT(conOftu•dJ
YEAR ENDED 30 JUNE 2024
STATEMENT OF RESPONSIBILTIES OF THE TRUSTEES (¢ondnu•dl
In preparing these financial 8tzternents, the trust¢¢s a￿ rquired to:
sde£t suitable accounting p)licias and then apply them consistently;
obscrvc th¢ mdhods and principles in the Charities SORP (FRS 102) (S￿Ond ￿llion -
October 2019):
make judgements and e￿iMat¢S that are reasonable and prndent;
5tatc whdh¢r applicable accounling stsndards have becn followed, subj#t lo any material
departures disGlosed and ¢xplained in the financial staiements;
prepare the financial statemetsts on ihc going ¢on¢ern basis Unle￿ it is inappropriale to
presume that the chariiy will conlinue in operation.
The truSt￿S are responsible for keeping proper a¢couniin8 rccords ihat disclose wilh reAsonable
a¢¢ura¢y ai any time the financial posilion of the chariiy and ¢nable them to cnsurc that tkn financial
statwnents comply with t￿ ¢harili¢s le8islalion for Northern Irelard and the provisions of ihe trust
deed. Th¢y are also r￿ponSIble for safe8uardin8 th¢ asseis of the charity and hence for iaking
rcasonable steps for the prevention and deteclion of fraud and other irregularities.
The tNstees are responsibl¢ for th¢ mainlenance and intwity of the Charity and financial infornMtion
included on the ¢harity'8 website. Legislation in the UnilrAI Kingdom governin8 the preparalion and
dissemination of financial 8lal¢menls may di(fer from legislation in oiher jurisdi¢lions,
Di¥closure of InfonnAtlon to Indep¢ndeDt ¢xAnlDer
So f8T as each of the lrnstees in office at the dale of approval ofihese financial Statements is aware..
Ihere 1$ no relevant inf0m￿lion for ihe independent examination of which the charity,
independent examiner are unaware; and
Ihey have taken all steps Ih)t they ought to have laken as In￿le¢S lo make themselves aware of
any relevant infom￿ll0n and to establish that the Charity's independenl cxamifter are aware of
Iht infomiation
INDEPENDENT EXAMINER
GM¢G will continue in otTi¢¢ as independent examiner for the ensuing year.
CONTACT ADDRLSS
BY ORDER OF THE BOARD OF TRUSTEES
98 Kernan Gardens
Portadown
Craigavon
BT63 5RA
Mrs D Kane
Tn1￿ce
10
Approved by ihe tnislee8 on ..........
I101.3+.....

Pag• 6
PORTADOWN FESTIVAL ASSOCIATION
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE
PORTADOWN FESTNAL ASSOCIATION
YEAR ENDED 30 JUNE 2024
I report on the accounts of the clwity for the pr ¢nded 30th June 2024 which are s¢t out on pa8es 7
10 16.
RESPECTIVE RF￿PONs1BIL1T[Es OF TRUSTEES AND EXAMINER
The Charity's truste¢s arc resP)￿Ible for the preparation of the a￿Oun1$. The charity's Irustces
consider that an audit 18 not ￿U1rd for this year under section 65(2) of ihe Charities Act (Northern
Ireland) 2008 (the Chariti¢s Acl) and that an ind¢p¢ndcM examinalion is needed. The charity is
pr¢pariThg accNal accounts and l am qualified to undetthke the examination by being a qualificd
mcmber of Chartered Acco￿n￿lnts Ireland.
It is my responsibility to:
examine the Accounts undex se£tion 65 of the Charitics Aci (Northern Ireland) 2(X)8 INJ under
seclion 44(IXc);
follow the wcedures laid down by the general Directions given by the Charity Commission
for Northern Ireland ￿t￿er seclion 65(9)(b) of the Charities Aci (Northern Ireland) 2008: and
$ia1e whdh¢r particular rnatt¢r5 have come to my attenlion.
BASIS OF INDEPENDENT EXAMINERgS REPORT
My examination was Ca￿led out in accordance with ihe seneral Directions given by the Charity
Commission for Northern Ireland. An examination includes a review of the a¢¢ouniing record5 kept by
Ihe charity and a cornparlson of the accounts presented wilh Ihos¢ records. It also I￿lUdeS
eonsider8tion of any unusual ilems or di8closur¢¥ in th¢ a￿OUnt5, arml seeking explanations from you
as ITUSttt5 wnc¢rning any such matteTr. The procedures undertaken do not provide all the evid¢￿¢
thai would be required in aTh audit and ¢onsequ¢nily no opinion is given as io whether ihe accoun18
present a 'Yru¢ and fair view" and the report is limited io those matters sel out in Ihe nexl slalement.
INDEPENDENT EXAMINER'S ￿ATEMENT
In connection with my examination, no matt¢r has come to my altentlon:
( l) which gives me reasonable cause lo believe that in any malerial respect the requir¢meThls'.
• lo k¢¢p accounling records in 8¢cordance with section 63 of ¢he Charities Acl 2(M)8; V4nd
to prepare accounts which accord with the accountin8 records and comply with ihc
accounlin8 requirem¢Ms of the Charities Act 2008
have nol been met Or
(2) to whiGh, in my opinion, attention should be drnwn in ord¢r to enabje a proper und¢rsianding
of the aLYounls lo bc reached.
Bryan J Friar FCA (Indepen
nl examincr)
Chartercd Accountants Ireland
Alfred House
19 Alfred Street
Belfasl
BT2 8EQ
For and on behalf of
GMCG
Charterd Accountants & Statutory Auditor
Date:....
0ccwlJ￿

Page 7
PORTADOWN FESTIVAL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2024
UDreslrieted
Funds
Total Fund$
2024
Total
2023
Note
Ineome from:
Donations and legacies
Investments
74263
3,160
74,263
3,160
65,867
1.160
Total income
77,423
77,423
67,027
Expenditure on:
Charitable activities,,
69,944
69,944
59.214
Total expenditure
69,944
69,944
59,214
Net Income for the yeAr
7,479
7,479
7,813
Reeoneiliation of funds
Total funds brought forward
Total funds ¢arried fornard
89,953
97,432
89,953
82,140
89,953
97,432
Th¢ Statement of Financial Activities includes all gains and losses in the year and th¢r¢fo
a stalement of total recognised gains and losses has not been prepared.
All of the above amounls relate to continuing activities.

Pap8
PORTADOWN FESTIVAL ASSOCIATION
BALANCE SHEET
30 JUNE 2024
2024
2023
Not•
Current Ai$et$
Debtors and accrued income
Cash al bank and in hat
11
3,856
93,876
97,732
1.400
88,853
90.253
Credlton: Amounts f*lliDg dwe wlthln one y￿r
12
(300)
(300)
N¢t ¢urreDt asxts
97.432
89,953
Tot*l i$Jets less current ￿bIllI1¢s
97.432
97.432
89,953
89,953
N¢t isjets
Charlty funds
Unreslricied fvnds
13
97,432
97,432
89.953
89,953
Totjl funds
ial slalements were approved by the tn￿tee8 and auth￿ised for issue on th¢
. and are si8Kd on ihcir behalf by:
Mrs D Kane
Trustee

Page 9
PORTADOWN FESTIVAL ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
Note
Cash now from opernting activities
Net cash flow from operating activilies
15
1063
1863
8.053
8,053
Cash flow from invesling activitles
Bank interest receivable
3,160
,160
Net cash flow from investing activities
3,160
1,160
Net increase in cash aDd cash equivalents
5,023
9,213
C￿h and cash equivAlents at i¥t July 2023
th
Cash and cash equivalents gt 30 June 2024
88,853
79,640
93076
88,853
CAsh and ea8h equivalenls Collgigt of:
Cash at bank and in hand
93076
93076
88,853
88,853
Cash and cash equivalents at 301h June 2024

Page 10
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
PRINCIPAL ACCOUNTING POLICIES
(A) General information and basis of preparation
The Portadown Festival Association is 2 charity and is regISte￿d in Northern Ireland. The
address of the registered office is given in ih¢ charity informalion on page l of thcsc financial
statements.
The charity is established under a Trust deed.
The charity constitutes a public benefit entity as defined by FRS 102.
Sta*ment of com
liance
The financial statements have been prepared in ac¢ordan¢e with the a￿oUntIng policies set out in
notes to ihe financial statements and comply with the charity's governing document. charity law
for Northern Ireland and "Charities SORP (FRS 102) (second cdition
October 2019)
Accounting and Reporting by Charities: Statem¢nt of R¢comm¢nded Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the United Kingdom and Republic of Ireland (FRS 102)" the "Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) (March 2018)" Charitios
Act (Northern Ireland) 2008, The Charilies (Accounts and Reports) Regulations (Northern
Ireland) 2015 and UK G¢n¢rally Acccpt¢d Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost
convention. The financial statements are presented in sterling whi¢h 15 the functional currency of
the charity and rounded to ihe nearest £1 .
The signifieant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless otherwise
slated.
(b> Fund accoun¢ing
Unrestricted funds
The unrestri¢t¢d fund5 of the charity consist of a General Fund which is expendabl¢ at th¢
discretion of the trustees in furtherance of ihe charitable objectives of the charity and which has
not been designated for other purposes.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the
harity is legally entitled to the income after any perforn]ance conditions have been me¢ the
amount can be measured reliably and it is probable that th¢ In￿Me will be received.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS
102).

Page 11
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (contlnu•d)
YEAR ENDED 30 JUNE 2024
{¢)In¢ome recognition {conllnu80)
Income from govcrnment and other grants are recognised at fair value when the charity has
entitlement after any perforn)ance conditions have bcen mel. il is probable that the income will be
received and the amount can be me8sur¢d reliably.
If entitlement is not met then these amounts are defenEd. Revenue grants are credited to
incoming resources on the earlier dale of when they are rexeiv¢d or when they are receivable,
unless they ￿late to a specified future period. Grants which contribute towards specific
eX￿ndItUre on fix￿ assets are credited to the SOFA in full upon receipt.
(d) Expendlture recognition
All expenditure is accounted for on an accruals basis and has been classified under headin8S that
aggregate all costs related to the ¢at¢gory. Expenditure is recognised Whe￿ there 15 a legal or
onstructive obli8ation to make payments to third parties, it is probabl¢ that the settlement will be
r¢quired and the amounl of the obligation can be measured reliably. It is categorised under the
following headings:
Expenditure on charitable activities comprises thos¢ costs incurrcd by ihe charity in the
delivery of its activities and services for its beneficiaries and includes salary costs and an
apportionment of support costs.
Other expcnditure represenls those items not falling into the cate8ori¢s above.
(e) Support costs AllocAt&on
Support costs are those that assist the work of the eharity but do not directly represent Charitable
activities, for example, governance costs. Th¢ analysi5 Qf th¢s¢ costs is included in note 5.
They are incurred directly in support of expenditure on the objects of the charity. whe￿ support
costs cannot b¢ directly attributed to particular headings they have been allocated to expenditure
on charilable activities on a basis consistent with use of th¢ r¢sour¢es.
(Q Taxation
The charity is not registered for VAT and. accordingly, all their expenditure is inclusive of any
VAT in¢urr¢d.
(g) Debtors and ereditors re¢eivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairnient are recognised in expenditure.

Page 12
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
YEAR ENDED 30 JUNE 2024
1. PRINCIPAL ACCOUNTING POLICIES (¢onthu•d)
(h) Going ¢oneern
The financial statements have been prepared on a going concem basis as the trustees believe
that no malerial uncertainties exist. The trustees have considered the level of funds held and
the expected level of incom¢ and expenditure for 12 months from authorising these financial
stalcments. The budgeted income and expenditure is sufficient with the level of resources for
the charity to b¢ able to continue as a going concern,
(i) Judgement8 and key souree8 of eJlimAlion uncertainty
The preparation of the financial statements r¢quir¢s the trustees to make judgemenls,
estimates and assumpiions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including
expectations of future evenls that are believed to b¢ r¢asonabl¢ under the circumstances.
INCOME FROM DONATIONS AND LEGACIES
Unrestricted
FuDds
Total
Funds
2024
Unrestricted
Funds
Total
Funds
2023
Daily admission and programme
sales
Competitor entry fees
Grant- ABC Council
Sponsors
Gift aid
General income
Season ticket sales
Hospitality sales
26278
22286
7,000
9,450
2,975
245
4J41
1,688
74263
26378
22286
7,000
9,450
2,975
245
4J41
1,688
24,404
20,194
8.217
9,29S
24.404
20,194
8,217
9,295
2,969
788
2,969
788
74263
65,867
65,867
3. INCOME FROM INVESTMENTS
Unrestricted
Funds
Total
Funds
2024
Unrestricted
Funds
Total
Funds
2023
Bank interest receivable
3,160
3,160
,160
1.160
1,160
3,160
3,160
1,160

Page 13
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (¢onflnu
YEAR ENDED 30 JUNE 2024
ANALYSIS OF EXPENDITURE ON CHARITABLE A￿IVITIEs
Activities
undertaken
Direcily
Unrestricled Restricted
Total
Tolal
2024
2024
Support
costs
Total
2024
Festival
67,274
67.274
2,670
2.670
69,944
69,944
69,944
69,944
Activities
undcrtaken
Directly
Unrestricted Restricted
Totsl
Total
2023
2023
Support
costs
Total
2023
Festival
56.488
2,726
59,214
59,214
56,488
2.726
59.214
59,214
ALLOCATION OF SUPPORT COSTS
Basis of
allocation
Tolal
2024
Total
2023
Festival
Festival
Governance
Affiliation,
subscriptions,
insurance & licenses
General expenses
Bank fees
Tim¢ spent
300
300
300
300
Cosl
Cost
Cost
1,104
1,101
165
1,031
1.293
102
,031
1,293
102
1,101
165
2,670
2,670
2,726
2.726
GOVERNANCE COSTS
Unrestricled
Funds
Total
Funds
2024
Unrestricted
Funds
Total
Funds
2023
Independent examiner's
remuneration
300
300
300
300
300
3(N)
300
300

Page 14
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (¢ontinu¢d)
YEAR ENDED 30 JUNE 2024
7. NET INCOME FOR THE YEAR
This is stated after charging l (crediting):
2024
2023
Independent examiner's remuneration
300
300
INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examiner's fee of £300 (2023:
£300) for the current independent examiner.
TRUSTEES, AND KEY MANGEMENT PERSONNEL REMUNERATION AND EXPENSES
The trustees neither received nor waived any r¢muneralion during the year (2023: £Nil).
The totsl amount of employee benefits received by key management personnel is £Nil (2023: £Nil).
The charity considers its key mana8ement personnel to b¢ the trust¢es.
Nil (2023 - Nil) trustees are accruing pension arrangements.
Th¢ trust¢¢5 did not have any expenses reimbursed during the year (2023 - £Nil).
10, STAFF COSTS AND EMPLOYEE BENEFITS
The average monthly numb¢r of employees in¢luding trustees during the year was as follows:
2024
Number
2023
Number
Charitabl¢ activiti¢s
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Prepayments and accrued income
3056
1.400
3056
1,400

Page 15
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS fcontlnu•d)
YEAR ENDED 30 JUNE 2024
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Accruals
31M)
300
31K)
300
13. FUND RECONCILIATION
Unrestricted funds
Balance at
l Jul 2023
Balance at
Income Expenditure TraDsCers 30 Jun 2024
unrestrict￿ fund
89.953
77,423
(69,944)
97,432
Balan¢e at
l Jul 2022
Balance at
30 Jun 2023
Income
Expenditure
Transfers
un￿striCted fund
82,140
67,027
(59,214)
89,953
Fund description
The unrestricted funds of the charity consist of a General Fund which is expendable at the discretion
of the trustees in furtherance of the charitable objcctives of the charity and which has not been
designated for oiher purposes.
The board considcrs the charity lo have one main charitable activity, being to advance the educalion of
the public in the arts and science5 of Music, Speech, Drama. Irish Folk Dancing and Dance. by the
presentation of ¢oncert perfonnances and other activities to be held annually or as the occasion may
arise.
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
UDrestricted
Fund
Total
2024
Unreslricted
Fund
Total
2023
Cash at bank and in hand
Other currenl ass¢lsl(liabilities)
93,876
3,556
97,432
93,876
3,556
88,853
1,100
89,953
88.853
1,100
89.953
97,432

Page 16
PORTADOWN FESTIVAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (C¢￿￿nUedj
YEAR ENDED 30 JUNE 2024
15. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM
OPERATING ACTIVITIES
2024
2023
Net income for the year
Bank interest receivable
(Increase)Idecrease in debtors
Net cash flow from operating activities
7,479
(3,160)
(2,456)
1063
7,813
{1.160)
1,400
8,053
16. RELATED PARTY TRANSACTIONS
There were no related party transactions during the year (2023: £Nil).
17. ETHICAL STANDARDS
In Common with many other organisations of our size and nature, we use our independent examiner to
prepare and assist in the preparation of the financial statements.

Page 17
PORTADOWN FESTIVAL ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 JUNE 2024
Unrestri¢ted
Funds
Total Funds Total Funds
2024
2023
Income from:
Donation and legacles
Daily admission and programm¢ sales
Competitor enty fees
Grant - ABC Council
Sponsors
Gift aid
General income
Season ticket sales
Hospitality sales
26278
22286
7,01)0
9,450
2,975
245
4J41
1,688
26278
22,286
7,000
9,450
2,975
245
4J41
1,688
24,404
20,194
8,217
9,295
2,969
788
74363
74263
65,867
Investments
Bank inter¢st rKeivable
3,160
3,160
1,160
3,160
3,160
1,160
Total ineome
77,423
77,423
67,027
Direct expenses;
V¢nu¢ hire
Adjudicator profcssional fees and expenses
Awards and m¢dals
Drama team expenses
Accompanist and expenses
Printing costs
Calcring
IT-RMF
Bursaries
BIFF Conference
Other Offic¢ Costs
Comput¢r C05ts
18,953
16381
11537
3,450
3224
3J31
3012
lJ20
2,592
2267
168
339
1&953
16281
IIA37
3,450
3224
3J31
3,812
la20
2.592
2367
20.461
16,814
2,821
2,238
2,573
3.771
2,001
1,276
1,525
1,917
211
880
339
67374
67274
56,488

Page 18
PORTADOWN FESTIVAL ASSOCIATION
DETAILED NOTES ON THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
Unrestricted
Fundg
Total Funds Total Funds
2024
2023
Support cost$:
Affiliation. subscription, insurance and license ftts
General expenses
Bank fees
1,104
1,101
165
1,104
1.031
1,293
102
165
2J70
2J70
2,426
Governance co81s:
Accountancy
300
300
300
300
300
300
Tolal expendlture
69,944
69,944
59,214
Net income for the yeAr
7,479
7,479
7,813