COMPANY REGISTRATION NUMBER N1621142 PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2025 Charity number 101935 2 Strand Park Ballywalter BT22 2PW PORTAFERRY COMMUNITY COLLEcfivE LTD COMPANY LIMITED BY GUARANTEE FINANCIAL sfATEMENTS YEAR ENDED 31 MARCH 2025 CONTENTS Trustees, annual report 34 Independent examiner's report Statement of financial activities Balance Sheet Notes to the financial ststements 8-11 PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE TRusfEES' ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINisfRATIVE DETAILS Registered charity name Portaferry Community Collective Ltd Charlty w15tration number 101935 Company reglstration number N1621142 Prlnclpal officelReglstered office 43 The Gables Portaferry Co Down BT22 2PQ The Trustees The trustees who served the charlty during the period were as follows: Mr J MacPolin Mrs M Mageean Mrs M McGreevy {Chairpersonl Mrs Alison Fisher Miss T Wyatt Mrs F Mccormick (Treasurer} Ms M Mahon Accountants DT Accounting Services 2 Strand Park Ballywalter 8T22 2PW Bankers Danske Bank Limited Donegall Square North Belfast BTI 5GJ srRucfuRE, GOVERNANCE AND MANAGEMENT Portaferry Community Collective Ltd is constituted as a company limited by guarantee and is registered charity, regulated by the Charities Commission for Northern Ireland. It is a not for profit organisation. Portaferry Community Collective Ltd is currently governed by a Board of seven directors/trustees, listed on page 3. The Board can co-opt new directors/trustees as and when required. New dirertors/trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum of Articles of Association, the committee and decision making process, future plans and recent financial performance. PORTAFERRY COMMUNITY COLLEcfivE LTD COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REpoKf IcoTrtinued) YEAR ENDED 31 MARCH 2025 Structure, governance and management (continued) The Board of Directors is supported by a Management Committee which consists of representatives of approximately ten other local voluntary organisations. The Management Committee meets on a monthly basi5 to discuss aims and issues arising within the individual organisations which they represent. There is a strong sense of cohesion between local organisations and Portaferry Community Collective Ltd acts as a hub whereby they can come together and work collectively for the benefit of the town of Portaferry and surrounding areas. Objectlves and actlvltles The charity's objectives are to:. l. Advance community development, regeneration, health, education, amateur sports, the arts, culture and heritage. 2. Engage and promote co-operation between all communlty organisations In Portaferry and act as a resource for them. 3. Improve the quality of life of residents living in Portaferry irrespective of age, sex, sexual orientation, race, disability, political, religious or other opinion by associating with statutory authorities, voluntary and communlty organisations and the private sector. Strateglc report The following sections for achievements and performance and frnancial revlew form the strateglc report of the charlty. FINANCIAL REVIEW Results for the year ended 31 March 2025 are given in the Statement of Financlal ActIvI￿e5 of page 6. The assets and liabilities a5 at 31 March 2025 are glven on the Balance Sheet on page 7. The financlal statements should be read In conlunction with thelr related notes, whlch appear on pa8e 8 to 11. SMALL COMPANY PROVISIONS This report has been prepared in accordance withthe provisions applicable for companles entltled to the small companies exemptton. Re8lstered offlce: 43 The Gables Portaferry Co Down BT22 2PQ Company Reglstration Number: N1037937 Slgned on behalf of the board of trustees by: Mr5 M McGreevy IChairperson} Mrs F Mccormick (Treasurer) PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARAf+JTEE INDEPENDENT EXAMINER'S REPORT TO THE AND MEMBERS OF PORTAFERRY COMMUNITY COLLECTIVE LTD YEAR ENDED 31 MARCH 2025 8ASIS OF INDEPENDENT EXAMINER'S REPORT I have examined your tharity accounts as requlred under section 65 of the Charitses Act and my examlnation was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under sectlon 6519llbl if the Charities Act. The examination induded a revlew of the accountlng records kept by the charity and a comparlson of the accounts presented with those records. It also Indudes conslderatlon of any unusual items or disclosures in the accounts, and seeklng explanatlons from you as charity trustees concernln8 any such matter5. My role is to state whether any material matters have come to my attentton glvlng me cause to belleve: 111 That accoundng records were not kept In accordance wlth section 386 of the Companies Act 2006; (21 That the accounts do not accord with those accountlng records,. {31 That the accounts do not comply wlth the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparin8 thelr accounts in accordance with the Flnanclal ReportEng Standard appllcable In the UK and Republlc of Ireland. (4) That there Is further informatlon needed for a proper understanding of the accounts to be reached. INDEPENDENT EXAMINERS STATEMENT I have completed my examlnatlon and have no concerns In respert of the matters11} to141 Ilsted above and, In connectlon wlth the followlng the Dlrectlons of the Charlty Comm15sion for Northern Ireland, I have found no matters that require to be drawn to your attention. DT Accountlng Servlces 2 Strand park Ballywalter BT22 2PW I02f Diana Timin MIATI IFAC- Accountlng Technicians Ireland aite PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2025 Total funds 2025 Total funds 2024 Unrestrirted funds Restrirted funds Note INCOMING RESOURCES Donations and Legacies 2,020 3,532 5,552 11,492 TOTAL INCOMING RESOURCES 2,020 3,532 5,552 11,492 RESOURCES EXPENDED Expenditure on charitable activitles 13911 15,985} 16,376) 116,7951 TOTAL RESOURCES EXPENDED 1391) 15,9851 16,3761 116,7951 NET OUTGOING RESOURCES BEFORE TRANSFERS 1,629 12,453) 1825) 15,3031 Transfer between funds {1,6291 1,629 NET OUTGOING RESOURCES FOR THE YEAR 18251 18251 15,3031 RECONCILIATION OF FUNDS Total funds brought forward 4,254 2,455 6,709 12,012 TOTAL FUNDS CARRIED FORWARD 4,254 1,630 5,884 6,709 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. PORTAFERRY COMMUNITY COLLEcfivE LTD COMPANY LIMITED BY GUARANTEE BALANCE SHEE[ 31 MARCH 2025 2025 2024 FIXED ASSETS Note Tangible assets 544 817 CURRENT ASSETS Debtors 382 1,842 Cash at bank 5,289 4,590 5,671 6,432 CREDITORS: Amounts falllng due wlthln one year 13311 15401 NET CURRENT LIABILITIES 5,340 5,892 TOTAL ASSETS LE55 CURRENT LIABILITIES 5,884 6,709 NET ASSETS 5,884 6,709 FUNDS Restrlcted income funds 1,630 2,455 Unrestrlcted Income funds 4,254 4,254 TOTAL FUNDS 5.884 6,709 For the year ended 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relatfng to small companies. Trustees, responslbilities: The members have not required the charlty to obtaln an audit of its accounts for the year In question In accordance with seciion 476; The trustees acknowledge their responslbllltles for complyln8 With the requirements of the Att with respect to accountlng records and the preparatlon of accounts. These accounts have been prepared In accordan￿ wlth the provlsions applicable to companles subject to the small companies reglme. Thesefi ancSal statements were approved by the board of trustees and authorised for issue on the and are signed on their behalf by: Slgned by trustees.. Mrs M McGreevy (Chairperson) Mrs F Mccormick ITreasurer) 1¢ PORTAFERRY COMMUNITY COLLEcfivE LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 MARCH 2025 I. GENERAL INFOMRATION The charity is a public benefit entity and a private company limlted by guarantee. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 43 The Gables, Portaferryi Co Down, BT22 IRR, Northern Ireland. 2. STATEMENT OF COMPLIANCE These linancial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. 3. ACCOUNTING POUCIES Basls of preparatlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income an expenditure. Golng concern There are no rnaterial uncertainties about the charity's ability to continue. Cash flow statement The twstees taken advantage of the exemption from including a cash flow statement in the flnancial statements on the grounds that the charity Is small. Fund accounting Restricted funds - the restricted funds represent donations recelved where the donor has Imposed restrictions on the use of the funds which a￿ legally binding on the board of trustees. Unrestrirted funds- the unrestricted funds are under the control of the board of trustees, to be used in the furtherance of the general charitable objecttves of the companv. Grants Revenue grants are credFted to the statement of financial activities in the period which they fall due. Flxed assets All fixed assets are initially recorded at cost. Depreclatlon Depreciation is calculated so as to write off the cost of an asset, le55 its estimated residual value. over the useful economic life of that asset as follows.. Plant and machinery- 20% pa straight line Fixtures and Fittrngs- 20% pa straight line. PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2025 4. DONATIONS AND LEGAaES Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2025 Grants ANDBC- Runing Costs Grant 934 934 830 NIHE- Apple Press Grant 902 National Lottery Communities Fund DAERA 408 408 ANDBC- Hardshlp Projett Grant 2,190 2,190 7,760 CFNI - Openreach Grant Donatlons 2,000 Donations 2,020 2,020 2,020 3,532 5,552 11,492 5. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestrlcted Funds Restrfcted Funds Total Funds 2025 Total Funds 2024 Community Cohesion and Wellbeing Initiatives Community and Townland Improvement Initiatives 840 2,200 3,040 14,599 2,044 Support costs 391 901 1,292 2.196 1,231 5,145 6.376 16,795 PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2025 6. DEPRECIATION 2025 2024 Depreciation of tangible fixed assets 273 273 273 273 7. INDEPENDENT EXAMINERS FEES 2025 2024 Independent examiners fees 300 450 300 450 STAFF COSTS AND EMOWMENTS PARTICULARS OF EMPLOYEES Directorsnrustees participate on fully voluntary basis and no trustee received renumeration or benefits during the year. 9. TANGIBLE FIXED ASSErs Freehold property Plant and machlnery Flxtures & Flttlngs Totsl Cost As at 31.03.2024 8,034 3,572 11,606 Depreclation As at 31.03.2024 7,217 3,572 10,789 Charge forthe year 273 273 As at 31.03.2025 7,490 3,572 11,062 NET BOOK VALUE As at 31.03.2025 544 544 As at 31.03.2024 817 817 10 PORTAFERRY COMMUNITY COLLECTIVE LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANaAL sfATEMENTS (continued) YEAR ENDED 31 MARCH 2025 10. DE8TORS 2025 2024 Prepayments and accrued income 382 1,842 1,842 382 11. CREDITORS 2025 2024 Accruals 332 540 332 540 12. ANALYSIS OF NET ASSETS BEfwEEN FUNDS Balance at 01-Apr-24 Incoming resources Expenditure/ Transfers Balance at 31-Mar-25 General Fund 4,254 2,020 12,0201 4,254 Restricted Fund 2,455 3,532 14,3571 1,630 Tangible fixed assets Net current assets Total Restricted Income Funds Unrestrirted Income Funds 544 544 5,340 5,340 Total Funds 544 5,340 5,884 13. ANALYSIS OF CHANGES IN NEf DEBT Balance at 01-Apr-24 Cash flow Balance at 31-Mar-25 Cash in bank and In hand 4,590 699 5,289 14. CONTINGENT LIABIUTIES It should be noted that under certain circumstances grants received may become repayable if certain qualifying conditions are not maintained. There are no other capital commitments or material contingent liabilities as at 31 March 2025.