2025-06-30-annual-return

PORTADOWN FESTIVAL ASSOCIATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

30 JUNE 2025

Charity Number NIC100622

PORTADOWN FESTIVAL ASSOCIATION

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

CONTENTS	PAGE
Charity reference number and administrative details	1
Trustees annual report	2
Independent examiner's report to the trustees	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9
The following pages do not form part of the financial statements
Detailed notes on the financial statements	16

Page 1

PORTADOWN FESTIVAL ASSOCIATION

CHARITY REFERENCE NUMBER AND ADMINISTRATIVE DETAILS

YEAR ENDED 30 JUNE 2025

Registered charity name	Portadown Festival Association
Charity number	NIC 100622
Contact address	23 Enniscrone Park
	Portadown
	BT63 5DQ
Trustees	Mr T Hutton
	Mrs D Kane
	Miss A Symington
Independent examiner	GMcG
	Chartered Accountants & Statutory Auditor
	Alfred House
	19 Alfred Street
	Belfast
	BT2 8EQ
Bankers	Ulster Bank
	20 High Street
	Portadown
	Craigavon
	BT62 1HU

Page 2

PORTADOWN FESTIVAL ASSOCIATION

TRUSTEES ANNUAL REPORT

YEAR ENDED 30 JUNE 2025

The trustees present their report and financial statements of the charity for the year ended 30[th] June 2025. The trustees have adopted the provisions of the Statement of Recommended (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes 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) Accounting and Reporting by Charities: Statement of Recommended 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)”, Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accounting Practice.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of trustees of the charity and professional advisers on page 1 of the financial statements.

Registered charity name Portadown Festival Association Charity number NIC 100622 Contact address 23 Enniscrone Park Portadown Craigavon BT63 5DQ

The trustees who served during the year were as follows: Mr T Hutton Mrs D Kane Miss A Symington (appointed 15[th] October 2024)

PUBLIC BENEFIT STATEMENT

The Board of Trustees of the Portadown Festival Association confirm 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 during 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 future activities.

OBJECTIVES AND ACTIVITIES

The purpose and charitable objective of the Portadown Festival Association are to advance the education of the public in the arts and sciences of music, speech, drama, Irish folk dancing and dance, by the presentation of concert performances and other activities to be held annually or as the occasion may arise.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document of the charity is its constitution, a copy of which is lodged with the Northern Ireland Charity Commission.

Page 3

PORTADOWN FESTIVAL ASSOCIATION

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 30 JUNE 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Governing document (continued)

The charity was registered with The Charity Commission for Northern Ireland on 1[st] December 2014, under reference NIC 100622. The constitution, which was last amended at the Annual General Meeting held on 13 November 2014, sets out the charity’s aims, purposes, structures and other matters, including the arrangements for holding an Annual General Meeting.

The constitution also provides for the charitable trust’s affairs to be administered by the Association’s committee and its officers, all of whom are elected at the Annual General Meeting.

The day to day running of the charity has been designated to Mr T Hutton, trustee.

The Festival is registered with and is a member of the British and International Federation of Festivals. It is also a member of the Northern Ireland Federation of Festivals, a regional branch of the British and International Federation. These bodies provide the Festival with guidance, information and advice about a range of issues, including safeguarding, and the British and International Federation also provides the Festival’s Insurance and a list of recognized and approved adjudicators from which the Festival can select. The Festival is also registered with the Association of Ulster Drama Festivals (AUDF).

Recruitment, appointment, induction and training

The present trustees have been involved in the charity for a number of years and so are familiar with its work. The trustees regularly review the requirements of the charity and the possibility of a need for additional trustees. Any new trustees would be appointed by resolution of a meeting of all the trustees passed by a majority of those present. Appropriate training and induction is available to all trustees.

Financial risk management objectives and training

The trustees have overall responsibility for ensuring that the charity has in place an appropriate system of controls, financial and otherwise, to provide assurance that:

• the charity is operating effectively;

• its assets are safeguarded against unauthorised use or disposition;

• proper records are maintained and financial information used within the charity or for publication is reliable;

• the charity complies with relevant laws and regulations; 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 finances of the charity. The trustees are satisfied that systems are in place to mitigate any exposure to major risks.

ACHIEVEMENTS AND PERFORMANCE

Total income for the year was £81,030 (2024 - £77,423). Income derived from donations and legacies amounted to £77,768 (2024 - £74,263) and investment income totalled £3,262 (2024 - £3,160).

Total expenditure for the year amounted to £67,865 (2024 - £69,944). The cost of charitable activities amounted to £67,865 (2024 - £69,944).

The net income for the year amounted to £13,165 (2024 - net income of 7,479).

Page 4

PORTADOWN FESTIVAL ASSOCIATION

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 30 JUNE 2025

ACHIEVEMENTS AND PERFORMANCE (continued)

The Trustees considers that the charity is in a satisfactory position to carry on its charitable activities.

The main achievements in the year are as follows:

• A Festival was planned, prepared and took place from February to May, spread across 40 days which included 5 sections of Speech, Drama, Irish Folk Dancing, Music and Dance. The Festival was performed in Portadown Town Hall, The Salvation Army Hall and Craigavon Civic and Conference Centre.

• The comments of the participants and those responsible for entering them were consistently positive and one complaint received 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 the high standards of the entries which they assessed.

• The Festival was delivered on budget.

• 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 matches the needs of the organisation, both at the current time and in the foreseeable future. This provides sufficient funds to cover running costs which include management, administration and support costs. Free reserves are those unrestricted reserves not designated nor invested in fixed assets which are available for general use.

The charity has unrestricted funds carried forward at 30 June 2025 of £110,597 (2024: £97,432).

Funding

The principal sources of funds in 2025 were as follows:

• Entry fees paid by or for those who took part in the Festival;

• Donations from a range of sponsors from within the local community;

• Box office takings, Committee fees and Season Ticket fees;

• A Grant from Armagh City, Banbridge and Craigavon Borough Council; and

• The funds raised are spent mainly on the fees and expenses payable to the Adjudicators and the venues.

PLANS FOR FUTURE PERIODS

To continue to hold the Festival annually.

STATEMENT OF RESPONSIBILTIES OF THE TRUSTEES

The Board of Trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 5

PORTADOWN FESTIVAL ASSOCIATION

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 30 JUNE 2025

STATEMENT OF RESPONSIBILTIES OF THE TRUSTEES (continued)

The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which 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.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP (FRS 102) (second edition – October 2019);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities legislation for Northern Ireland and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to independent examiner

So far as each of the trustees in office at the date of approval of these financial statements is aware:

• there is no relevant information for the independent examination of which the charity’s independent examiner are unaware; and

• they have taken all steps that they ought to have taken as trustees to make themselves aware of any relevant information and to establish that the charity’s independent examiner are aware of that information

INDEPENDENT EXAMINER

GMcG will continue in office as independent examiner for the ensuing year.

CONTACT ADDRESS BY ORDER OF THE BOARD OF TRUSTEES

23 Enniscrone Park Portadown Miss A Symington BT63 5DQ Trustee

Approved by the trustees on ……………………….. 24] 09 ]2S

Page 6

PORTADOWN FESTIVAL ASSOCIATION

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE PORTADOWN FESTIVAL ASSOCIATION

YEAR ENDED 30 JUNE 2025

I report on the accounts of the charity for the year ended 30[th] June 2025 which are set out on pages 7 to 15.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act) and that an independent examination is needed. The charity is preparing accrual accounts and I am qualified to undertake the examination by being a qualified member of Chartered Accountants Ireland.

It is my responsibility to:

• examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008 and under section 44(1)(c);

• follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and

• state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the next statement.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention:

• (1) which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with section 63 of the Charities Act 2008; and

• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2008

have not been met or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Bryan J Friar FCA (Independent examiner) Chartered Accountants Ireland Alfred House For and on behalf of 19 Alfred Street GMcG Belfast Chartered Accountants & Statutory Auditor BT2 8EQ

Date: …………………..

Page 7

PORTADOWN FESTIVAL ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 30 JUNE 2025

			Unrestricted	Total Funds	Total
			Funds	2025	2024
	Note		£	£	£
Income from:
Donations and legacies		2	77,768	77,768	74,263
Investments		3	3,262	3,262	3,160
			----------------------------------	-------------------------------	-------------------------------
Total income			81,030	81,030	77,423
			---------------------------------	------------------------------	------------------------------
Expenditure on:
Charitable activities:		4	65,865	65,865	69,944
			-----------------------------------	--------------------------------	---------------------------
Total expenditure			65,865	65,865	69,944
			--------------------------------	------------------------------	---------------------------
			-----------------------------	----------------------------	----------------------------
Net income for the year		7	13,165	13,165	7,479
			-----------------------------	------------------------------	------------------------------
Reconciliation of funds
Total funds brought forward			97,432	97,432	89,953
			----------------------------------	-------------------------------	-------------------------------
Total funds carried forward			110,597	110,597	97,432
			======================================	====================================	===============================

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

Page 8

PORTADOWN FESTIVAL ASSOCIATION

BALANCE SHEET

30 JUNE 2025

30 JUNE 2025
		2025		2024
	Note	£	£	£
Current assets
Debtors and accrued income	Debtors and accrued income11	5,955		3,856
Cash at bank and in hand		108,038		93,876
		-----------------------------------		-------------------------------
		113,993		97,732
Creditors: Amounts falling due within one year	12	(3,396)		(300)
		------------------------------		-------------------------------
Net current assets			110,597	97,432
			-----------------------------------	-------------------------------
Total assets less current liabilities			110,597	97,432
			----------------------------------	--------------------------------
Net assets			110,597	97,432
			==================================	==============================
Charity funds
Unrestricted funds	13		110,597	97,432
			-----------------------------------	-------------------------------
Total funds			110,597 ==================================	97,432 ==============================

These financial statements were approved by the trustees and authorised for issue on the ………………………… and are signed on their behalf by: 2y¢™ Sepiembs-

Miss A Symington Trustee

Page 9

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

1. PRINCIPAL ACCOUNTING POLICIES

(a) General information and basis of preparation

The Portadown Festival Association is a charity and is registered in Northern Ireland. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity is established under a Trust deed.

The charity constitutes a public benefit entity as defined by FRS 102.

Statement of compliance

The financial statements have been prepared in accordance with the accounting policies set out in notes 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) Accounting and Reporting by Charities: Statement of Recommended 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)”, Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant 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 stated.

(b) Fund accounting

• Unrestricted funds

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 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 charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Page 10

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

1. PRINCIPAL ACCOUNTING POLICIES (continued)

(c) Income recognition (continued)

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.

If entitlement is not met then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period. Grants which contribute towards specific expenditure on fixed assets are credited to the SoFA in full upon receipt.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries and includes salary costs and an apportionment of support costs;

• Other expenditure represents those items not falling into the categories above.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities, for example, governance costs. The analysis of these costs is included in note 5.

They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.

(f) Taxation

The charity is not registered for VAT and, accordingly, all their expenditure is inclusive of any VAT incurred.

(g) Debtors and creditors receivable / 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 impairment are recognised in expenditure.

Page 11

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

1. PRINCIPAL ACCOUNTING POLICIES (continued)

(h) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resources for the charity to be able to continue as a going concern.

(i) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

2. INCOME FROM DONATIONS AND LEGACIES

	Unrestricted	Total	Unrestricted	Total
	Funds	Funds	Funds	Funds
		2025		2024
	£	£	£	£
Daily admission and programme
sales	28,313	28,313	26,278	26,278
Competitor entry fees	24,106	24,106	22,286	22,286
Grant – ABC Council	9,385	9,385	7,000	7,000
Sponsors	9,828	9,828	9,450	9,450
Gift aid	1,485	1,485	2,975	2,975
General income	-	-	245	245
Season ticket sales	3,069	3,069	4,341	4,341
Hospitality sales	1,582	1,582	1,688	1,688
	----------------------------	----------------------------	----------------------------	----------------------------
	77,768	77,768	74,263	74,263
	=========	=========	=========	=========

3. INCOME FROM INVESTMENTS

	Unrestricted	Total	Unrestricted	Total
	Funds	Funds	Funds	Funds
		2025		2024
	£	£	£	£
Bank interest receivable	3,262	3,262	3,160	3,160
	-------------	------------	-------------	------------
	3,262	3,262	3,160	3,160
	========	=======	=======	=======

Page 12

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

	Activities			Unrestricted	Restricted
	undertaken	Support	Total	Total	Total
	Directly	costs	2025	2025	2025
	£	£	£	£	£
Festival	65,350	2,515	67,865	67,865	-
	----------------------------------	--------------------------	-----------------------------------	------ --------------------------	-------------------------
	65,350	2,515	67,865	67,865	-
	================================	===========================	===================================	==================================	=========================
	Activities			Unrestricted	Restricted
	undertaken	Support	Total	Total	Total
	Directly	costs	2024	2024	2024
	£	£	£	£	£
Festival	67,274	2,670	69,944	69,944	-
	----------------------------------	--------------------------	-----------------------------------	------ --------------------------	-------------------------
	67,274 ================================	2,670 ===========================	69,944 ================================	69,944 ==============================	- =========================

5. ALLOCATION OF SUPPORT COSTS

	Basis of		Total		Total
	allocation	Festival	2025	Festival	2024
		£	£	£	£
Governance	Time spent	300	300	300	300
Affiliation,
subscriptions,
insurance & licenses	Cost	1,009	1,009	1,104	1,104
General expenses	Cost	1,116	1,116	1,101	1,101
Bank fees	Cost	90	90	165	165
		--------------------------	--------------------------	--------------------------	--------------------------
		2,515	2,515	2,670	2,670
		============================	============================	============================	=========================
GOVERNANCE COSTS
		Unrestricted	Total	Unrestricted	Total
		Funds	Funds	Funds	Funds
			2025		2024
		£	£	£	£
Independent examiner’s
remuneration		300	300	300	300
		---------	--------	---------	--------
		300	300	300	300
		=====	=====	=====	=====

6 . GOVERNANCE COSTS

Page 13

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

7. NET INCOME FOR THE YEAR

This is stated after charging / (crediting):
	2025	2024
	£	£
Independent examiner’s remuneration	300 =================	300 ================

8. INDEPENDENT EXAMINER’S REMUNERATION

The independent examiner’s remuneration amounts to an independent examiner’s fee of £300 (2024: £300) for the current independent examiner.

9. TRUSTEES' AND KEY MANGEMENT PERSONNEL REMUNERATION AND EXPENSES

The trustees neither received nor waived any remuneration during the year (2024: £Nil).

The total amount of employee benefits received by key management personnel is £Nil (2024: £Nil). The charity considers its key management personnel to be the trustees.

Nil (2024: Nil) trustees are accruing pension arrangements.

The trustees did not have any expenses reimbursed during the year (2024: £Nil).

10. STAFF COSTS AND EMPLOYEE BENEFITS

The average monthly number of employees including trustees during the year was as follows:

	2025	2024
	Number	Number
Charitable activities	3	2
	------	------
	3	2
	====	===
EBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2025	2024
	£	£
Prepayments and accrued income	5,955	3,856
	------------	------------
	5,955	3,856
	=======	=======

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Page 14

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals

2025	2024
£	£
3,396	300
-----------	--------
3,396	300
=======	=====

13. FUND RECONCILIATION

Unrestricted funds

Unrestricted funds
	Balance at				Balance at
	1 Jul 2024	Income	Expenditure	Transfers	30 Jun 2025
	£	£	£	£	£
Unrestricted fund	97,432	81,030	(67,865)	-	110,597
	===============================	============================	===============================	========================	=====================================
	Balance at				Balance at
	1 Jul 2023	Income	Expenditure	Transfers	30 Jun 2024
	£	£	£	£	£
Unrestricted fund	89,953	77,423	(69,944)	-	97,432
	================================	============================	==================================	========================	=================================

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 objectives of the charity and which has not been designated for other purposes.

The board considers the charity to have one main charitable activity, being to advance the education of the public in the arts and sciences of Music, Speech, Drama, Irish Folk Dancing and Dance, by the presentation of concert performances and other activities to be held annually or as the occasion may arise.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

	Unrestricted	Total	Unrestricted	Total
	Fund	2025	Fund	2024
	£	£	£	£
Cash at bank and in hand	108,038	108,038	93,876	93,876
Other current assets/(liabilities)	2,559	2,559	3,556	3,556
	---------------	---------------	---------------	---------------
	110,597	110,597	97,432	97,432
	===================================	===================================	===============================	=================================

Page 15

PORTADOWN FESTIVAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 JUNE 2025

15. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2024: £Nil).

16. 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 16

PORTADOWN FESTIVAL ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 30 JUNE 2025

	Unrestricted	Total Funds	Total Funds
	Funds	2025	2024
	£	£	£
Income from:
Donation and legacies
Daily admission and programme sales	28,313	28,313	26,278
Competitor entry fees	24,106	24,106	22,286
Grant – ABC Council	9,385	9,385	7,000
Sponsors	9,828	9,828	9,450
Gift aid	1,485	1,485	2,975
General income	-	-	245
Season ticket sales	3,069	3,069	4,341
Hospitality sales	1,582	1,582	1,688
	----------------------------	------------------------------	-------------------------------
	77,768	77,768	74,263
	----------------------------	------------------------------	------------------------------
Investments
Bank interest receivable	3,262	3,262	3,160
	-----------------------------	-----------------------------	-----------------------------
	3,262	3,262	1,160
	-----------------------------	-----------------------------	-----------------------------
	------------------------------	------------------------------	------------------------------
Total income	81,030	81,030	77,423
	------------------------------	------------------------------	------------------------------
Direct expenses:
Venue hire	22,658	22,658	18,953
Adjudicator professional fees and expenses	17,337	17,337	16,281
Awards and medals	3,794	3,794	11,537
Drama team expenses	2,598	2,598	3,450
Accompanist and expenses	2,177	2,177	3,224
Printing costs	4,205	4,205	3,331
Catering	3,217	3,217	3,812
IT – RMF	3,010	3,010	1,320
Bursaries	4,150	4,150	2,592
BIFF Conference	2,076	2,076	2,267
Other Office Costs	-	-	168
Computer Costs	128	128	339
	-------------------------------	-------------------------------	-------------------------------
	65,350	65,350	67,274
	-------------------------------	-------------------------------	-------------------------------

Page 17

PORTADOWN FESTIVAL ASSOCIATION

DETAILED NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

	Unrestricted	Total Funds	Total Funds
	Funds	2025	2024
	£	£	£
Support costs:
Affiliation, subscription, insurance and license fees	1,009	1,009	1,104
General expenses	1,116	1,116	1,101
Bank fees	90	90	165
	----------------------------	----------------------------	----------------------------
	2,215	2,215	2,370
	----------------------------	----------------------------	----------------------------
Governance costs:
Accountancy	300	300	300
	-------------------	-----------------	----------------
	300	300	300
	---------------------	------------------	-----------------
	--------------------------------	--------------------------------	--------------------------------
Total expenditure	67,865	67,865	69,944
	--------------------------------	--------------------------------	----------------------------
Net income for the year	13,165	13,165	7,479
	--------------------------------	--------------------------------	----------------------------