E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Company Registration number: N1068361 Charity Number: NIC102023 Portico of Ards Ltd (formerly Friends of Portaferry Presbyterian Church) Unaudited Annual Report and Financial Statements Year ended 31 March 2024 KPS Chartered Accountants Chartered Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co Down BT30 6BW E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Financial Statements Year Ended 31 March 2024 Contents Page Charity Reference and Administrative Details Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 4-6 Balance Sheet Notes to the Financial Statements 10-18 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Charity Reference and Administrative Details Year Ended 31 March 2024 Charity registration number NIC102023 Company registration number N1068361 Trustees Prof Neil Mcclure Mr Christopher Bunting Mr Duane Fitzsimons Mr Robin Mcclelland Mr David Mcmullan (resigned 2019124) Mrs Aison Gordon Mr Howard Hastings {resigned 911124) Mr Matthew Ward Mrs Claire Beckenstein (appointed 2612r24) Mrs Jane Carmel Heyn (appointed 2612124) Mrs Naomi Mccallum (appointed 21112123) Mrs Annalisa Katrina Mcmanus (appointed 2612124) Company Secretaries Prof Neil Mcclure Mr Robin Mcclelland Registered office 15 Bangor Road Holywood Co Down BT18 ONU Independent Examiner KPS Chartered Accountants 35 Irish Street Downpatrick BT30 6BW Solicitor Cleaver Fullon Rankin 50 Bedford Street Belfasl BT2 7FW Bankers Danske Bank Branch Business P.0. Box 183 Donegall Square West Belfast BT16JS Starling Bank Ltd 5th Floor London Fruit and Wool Exchange, 1 Duval Square London E1 6PW Wise Payments Ltd 6th Floor The Tea Building 56 Shoreditch High Street London E16JJ E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Charity Reference and Administrative Details Year Ended 31 March 2024 The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 which complies with the requirements for a directors, report and accounts under the Companies Act 2006. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) -Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Trustees of the charity The directors of the charitable company are its trustees for the purposes of charity law. The trustees as listed on page 3, who have served during the year ended 31 March 2024 and since the year end were as follows.. Prof Neil Mcclure Mr Christopher Bunting Mr Duane Fitzsimons Mr Robin Mcclelland Mr Matthew Ward Mrs Jane Carmel Heyn Mr David Mcmullan Mrs Alison Gordon Mr Howard Hastings Mrs Naomi Mccallum Mrs Annalisa Katrina Mcmanus Mrs Claire Beckenstein Objectives and activities Portaferry is a small market town at the tip of the Ards Peninsula in County Down, Northern Ireland. The Hey-Day of the town was in the mid 1800's and it was then that Portaferry Presbyterian Church, widely acknowledged as one of the best Greek Revival church buildings in Great Britain and Ireland, was built. The Portico of Ards Ltd assumed ownership of the building in 2014 and completed a £1.6m restoration in 2016. The objects of the company are to promote, maintain and advance education in Northern Ireland, in particular the Portaferry area, by the presentation of public events including, for example, exhibitions, concerts and recitals for the benefit of the inhabitants of the area and in particular to= advance education by the provision of appropriate courses, lectures, seminars, concerts, recitals, competitions and workshops" provide facilities in the interest of social welfare for recreation and leisure time occupation by providing and making available facilities for the recording and editing of music with the object of improving the conditions of life of people in the area of benefit., and repair, maintain, improve and reconstruct the property of Portaferry Presbyterian Church. In order to carry out the objectives and activities of the charity the trustees devote their time on a voluntary basis. They are assisted by over 100 other volunteer helpers whose help is invaluable in enabling Portico of Ards Ltd to organise and host events and activities. E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Year Ended 31 March 2024 Public benefit statement The charity has given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the charity's objectives and activities as well as providing public benefit. Achievements and Perfomiance In the year 2023-2024 Portico has continued to develop and build on its role as a unique, privately owned Arts and Heritage venue in N Ireland which hosts a wide range of arts and heritage related events from jazz to country music, pop music, tribute bands, theatre. comedy and film as well as classical, choral and organ music. Core to the success of the venue is the financial support of the Arts Council of Northern Ireland and Ards and North Down Borough Council as Portico develops a central role for them in the provision of arts events in the southern part of the Borough. Portico has also seen an increase in tour group numbers and talks on local heritage. In the 23-24 year Naomi Bailie-Doran and Howard Hastings resigned from the Board and Claire Bechenstein, Jane Heyn, Annalisa Mcmanus and Naomi Mccallum joined the Board. Paula McKeown was appointed as Assistant Manager and Anne Moreland as Development Manager. Volunteers remain core to Portico's life and business model: numbers have continued to grow with tasks ranging from ticket sales through ushering, carparking, cleaning, polishing silver to grant writing, maintenance of the building and caring for the grounds. It is estimated that the volunteers contribute, in kind, well over £80K of services pro bono. The financial year 23-24 saw continued growth in audience numbers for comedy and tribute bands with a considerable number of sell-out events. However, audience numbers for "classical" events have continued to be lower than before the Covid pandemic. Portico's manager, Dr Verity Peet, is highly active on social media on behalf of Portico, advertising concerts and increasing awareness of Portico locally and nationally. Financial review {including reserves policy) The results for the year are set out in detail on pages 8 to 18. The charitable company returned net outgoing resources in the year of {£26.449) {2023. net outgoing resources of {£54,616) ). At 31 March 2024, the total funds of the charity amounted to £1.080,174 (2023.. £1,106.623) comprising restricted funds of £945,245 (2023.. £964,131) and unrestricted funds of £134,929 {2023: £142,492). Reserves Policy The trustees have established the level of reserves (that is those funds that are freely available} that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on productions and events and receiving reSoUr￿S through admission charges, donations and the receipt of grants. The level of unrestricted reserves that the charity aims to retain are equivalent to six months operating costs. Plans for future periods Looking ahead, Portico's main con￿rn will be revenue generation and attracting core-funding. Portico will continue to strive to present as wide-ranging a list of events to ensure public support and income. In addition, the relationship with the local Presbyterian congregation, who use the building every Sunday under licence and for an annual fee, continues to be excellent and the multifunctionality as both a church and an Arts and Heritage Centre perhaps represents a model that other churches, struggling with maintenance overheads might consider. Structure, governance and management Governing document The organisation is a charitable company limited by guarantee. incorporated on 5 March 2008 and registered as a charity on 5 March 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. E-Sign ID: d0bd9211-12c0-4a7b-aea2-8c22982d734d 11/12/2024 N McClure 11/Dec/2024 13:33:30 E-Sign ID: d0bd9211-12c0-4a7b-aea2-8c22982d734d Kps 11/Dec/2024 14:37:24 KPS 11/12/2024 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Statement of Financial Activities (Including Income and Expenditure Account) Year Ended 31 March 2024 Unrestricted Restricted funds funds Total 2024 Total 2023 Note Income: Donations & legacies Charitable activities Investment income Total income 35,999 124,571 124,847 160,846 124,571 125,579 90,973 160,570 124,847 285,417 216,552 Expenditure on: Charitable activities Total expenditure Net income I (expenditure Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 168,133 168,133 143,733 143.733 311,866 311.866 271,168 271.168 (7.563) (18.886) 126.449) (54.616 17,563) (18.886) 126,449) (54,616) 16 142.492 964.131 1,106.623 1,161,239 16 134,929 945.245 1,080.174 1,106.623 All income and expenditure derives from continuing activities. The statement of financial activities includes all gains and losses recognised during the year. The notes on pages 10 to 18 forni part of these financial statements. E-Sign ID: d0bd9211-12c0-4a7b-aea2-8c22982d734d 11/12/2024 C Bunting 11/Dec/2024 13:54:23 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 Summary of significant accounting policies la) General inforniation and basis of preparation Portico of Ards Ltd is a company limited by guarantee in Northern Ireland. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities are to promote, maintain and advance education in Northern Ireland, in particular the Portaferry area by the presentation of public events including, for example, exhibitions, concerts and recitals for the benefit of the inhabitants of the area. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), Charities Act (Northem Ireland) 2008, the Companies Act 2006, and UK Generally Accepted Accounting Practi￿. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. 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. Ib) Funds Unrestricted funds are available for use at the discretion of the trustees in furtheran￿ of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordan￿ with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Ic) Income recognition All incoming resources are included in the Statement of Financial Activities ISoFA} 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. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional servi￿$ are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the The notes on pages 10 to 18 forni part of these financial statements. 10 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. Id) 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 charitsble activities- and Governance costs. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitsble activities and include office costs. governance costs. administrative payroll costs. 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 cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. The analysis of these costs is included in note 6. lfj Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Freehold buildings Fixtures and fittings Organ Equipment 2 % straight line 10 % straight line 10°/o Straight line 25 % straight line (g) Debtors and creditors receivable I 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. Ih) Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balan￿ sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. The notes on pages 10 to 18 forni part of these financial statements. E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 li) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an ouffiow of economic benefits will be required in settlement and the amount can be reliably estimated. ti) Tax Portico of Ards Ltd is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. Ik) 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 reserves for the charity to be able to continue as a going concern. 11) Judgements and key sources of estimation uncertainty Estimates and judgements made in the prO￿sS of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying these charity accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. Income from donations and legacies 2024 2023 Gifts (Donations) Grants 35,999 124,847 160,846 34,478 91,101 125,579 Income from gifts (donations) was £35,999 (2023.. £34,478) all of which was attributable to unrestricted funds. Income from grants was £124,847 (2023.. £91,080) of which £Nil (2023.. £5,600) was attributable to unrestricted funds and £124,847 (2023.. 85,501) was attributable to restricted funds. Income from charitable activities 2024 2023 Ticket sales Sundry income Rental and hall hire 116,942 85,010 7,629 124,571 5,963 90,973 Income from charitable activities was attributable to unrestricted funds. The notes on pages 10 to 18 forni part of these financial statements. 12 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 Income from investments 2024 2023 Bank interest re￿iVed Income from investment was attributable to unrestricted funds. Analysis of expenditure on charitable activities 2024 2023 Wages and salaries Staff Pensions Performance fees and expenses Trade subscriptions Cleaning Rates Light, heat and power Insurance Repairs and maintenance Telephone and fax New Website Development Printing, postage and stationery Food and hospitality Sundry expenses Motor expenses Travel and subsistence Advertising and marketing Staff entertaining Bank fees Independent examination fee Legal and professional fees Depreciation of freehold property Depreciation of fixtures and fittings Depreciation of office equipment Depreciation of other tangible assets- organ Other interest payable 56,059 3,633 113,442 153 2,117 764 7,407 3,400 36,551 889 485 214 11,372 249 63,736 2,239 108,891 499 4,252 3,138 4,421 632 1,110 692 5,866 2,575 1,398 10,391 745 366 2,521 433 22,549 10,201 4,525 21,996 6,096 183 2,214 5,394 22,549 10,201 4,348 21,996 136 271,168 311,866 £143,73312023: £113.116) of the above costs were attributable to restricted funds. £168,133 (2023.. £158,052) of the above costs were attributsble to unrestricted funds. Allocation of support costs Support costs are costs in respect of bank fees paid during the year of £366 (2023.. £1831 together with governance costs in relation to independent examination fees of £2,521 (2023= £2,214). Support costs are allocated to charitable activities. The notes on pages 10 to 18 forni part of these financial statements. 13 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 Governance costs 2024 2023 Trustees, remuneration Trustees, expenses 980 980 1,882 1,882 Net income l (expenditure) for the year I period Net income l (expenditure) is stated after charging l (crediting)- 2024 2023 Depreciation of tangible fixed assets 59,271 59,094 Independent examiners remuneration The independent examiners remuneration amounts to an independent examination fee of £2,521. The prior year examiner's remuneration amounted to £2.214. 10 Trustees, and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration during the year (2023.. £Nil). The total amount of employee benefits re￿iVed by key management personnel is £nil {2023 - £nil). Key management personnel are considered to comprise the trustees. No (2023 - none) trustees are accruing pension arrangements. The trustees had expenses reimbursed during the year of £980 (2023- £1,882). 11 Staff costs and employee benefits The average monthly number of employees and full time equivalent during the year was as follows= 2024 2023 Charitable activities The total staff costs and employee benefits were as follows: 2024 2023 Wages and salaries Staff pension 56,059 3,633 59,692 63,736 2,239 65,975 12 Staff costs and employee benefits (continued) No employees received total employee benefits of more than £60,000. The notes on pages 10 to 18 forni part of these financial statements. 14 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 13 Tangible fixed assets Church Restoration & Heritage Centre Fixtures Organ and Restoration rrttings Equipment Total Cost or valuation". At 31 March 23 1,127.459 102.010 219,960 28,941 1,478,370 Additions At 31 March 2024 Depreciation: At 31 March 2023 Charge for the year At 31 March 2024 Net book value: 707 707 29,648 1,479,077 1,127,459 102,010 219,960 183,999 22.549 206,548 61,646 10,201 71,847 173,766 21.996 195.762 23,458 4,525 27,983 442,869 59,271 502,140 At 31 March 2024 920,911 30,163 24.198 1,665 976,937 At 31 March 2023 943,460 40,364 46,194 5,483 1,035,501 The value of non-depreciable land held within Land & Buildings is nil {2023= nil). During the year ended 31 March 2013 Portico of Ards Ltd were gifted the freehold interest of the Nugent estate in Portafery Presbyterian Church. In April 2014 the congregation relinquished their interest in the church building. On 19 May 2014 the freehold ownership of the church building was passed to Portico of Ards Ltd for nil consideration. No value has been included in the financial statements in respect of this donation. It was considered that at the date the freehold interest was acquired the building only had a token value on the basis that the grade 'A' listed status of the building would have limited its use to a church or community hall. In addition significant work would also have been required to have been carried out to the building at that time in order to repair and upgrade the building. A charge has been granted over the propety in favour of the Trustees of the National Heritage Memorial Fund as security for any sums that may become due under the standard terms of the grant referred to and contsined in the grant notification letter dated 12 June 2013. The standard terms of the grant and additional grant conditions last for 25 years from 12 June 2013 in accordan￿ with the terms of that grant notification letter. There are no assets held under finance leases. 14 Debtors: amounts falling due within one year 2024 2023 Trade debtors Other debtors Accrued Income 2,322 36,880 39,202 2,233 11,963 14,196 The notes on pages 10 to 18 forni part of these financial statements. 15 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 15 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 1,144 6,089 264 4,509 78 4,851 7,233 16 Fund reconciliation Unrestricted funds Balance at start Income 114123 Transfer between funds Balance at end 3113124 Expenditure General funds 142,492 160,570 (168,133) 134,929 Restricted funds Balance at start Income 114123 Transfer Balance between at end funds 3113124 Expenditure Donations The Wolfson Foundation The Acheson Foundation Heritage Lottery Fund Ulster Garden Villages Trust The Radcliffe Trust Esme Mitchell Trust The Trusthouse Charitable Foundation Listed Place of Worship Grant Scheme Portaferry Presbyterian Church DOE Historic Buildings Unit QUB Film Hub Nl Impact Scheme The Pilgrim Trust Department of Agriculture, Environment and Rural Affairs The Ironmongers Company Stability & Renewal Programme Small Capital Programme Health and Safety Capital Programme Community Foundation Organisation's emergency programme Community Foundation Co-op Covid Grant Business Adaptation Arts Multi Annual Co-op Grant 15,756 2,272 615,802 7,105 4,635 8,340 27,804 44,686 92.027 22.487 1.912 22,248 7,518 (311} (45) (33,165) (823} (92) (165} (549} (1,625} (1,625} (1,625) 15,445 2,227 582,637 6,282 4,543 8,175 27,255 43,061 90,402 20,862 1,912 21,809 7,366 (439) (152) 4,504 1,606 3,733 5,037 165 4.568 7.702 234 1,741 5,500 1,398 {128} (260} (981} {801} (165} (2,987} (964} (234} (248} 4,376 1,346 2,752 4,236 1,581 6,738 1,493 5,500 1,198 {200} The notes on pages 10 to 18 forni part of these financial statements. 16 E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 ACNI National Lottery Fund ACNI Health & Safety Programme Access & Inclusion ANDBC Arts Project DAERA Rural Micro Capital Grant Association of Independent Volunteers Dormant Accounts Fund Ards & North Down Borough Council ANDBC Tourism Events Grant ANDBC- SLA grant 23124 ANDBC- Events & Festivals Fund Dunleath Charity ACNI National Lottery Fund ACNI Arts Programme 10.805 (10,805) (22,920) (2,136) (1,000) (287) (25) (9,660} 22.920 14,955 500 287 1,187 27.617 12,819 500 1,000 1,162 51,157 33,200 3,000 15,000 1,000 40.167 8,560 964,131 124.847 (1,892} (15,000) 1,108 1,000 11,868 4,435 945,245 (28,299) (4,125} {143,733} Restricted funds The Woltson Foundation - This is a restricted grant allocated towards the cost of repairing the roof. The Acheson Foundation - This is a restricted grant for the completion of new steps. Heritage Lottery Fund - This is a restricted grant provided towards the cost of restoration and revitslisation of the grade A listed church building and implementation of a Heritage Activity plan. Ulster Garden Villages Trust - This is a restricted grant allocated towards the restoration of Portaferry Presbyterian church's special architectural features. The Radcliffe Trust- This is a restricted grant allocated towards the cost of heritage building skills. Esme Mitchell Trust - This is a restricted grant allocated towards the cost of replacing existing windows with new clear glazed Greek Revival sliding sash windows. The Trusthouse Charitable Foundation This is a restricted grant allocated towards the cost of constructing the heritage centre extension. Listed Place of Worship Grant Scheme - This is a specific grant allocated towards the restoration of Portaferry Presbyterian church. Portaferry Presbyterian Church Portaferry Presbyterian church. DOE Historic Buildings Unit - This is a restricted grant allocated towards the cost of the restoration of Portaferry Presbyterian Church. QUB Film Hub Nl Impact Scheme - This is a restricted award allocated towards the cost of the activity programme for the Film Hub Nl Impact Scheme. The Pilgrim Trust - This is a restricted grant allocated towards the cost of the replacement of the original North Portico Cast Iron Windows. Department of Agriculture, Environment and Rural Affairs- This is a restricted grant which is to be used against expenses relating to the genealogy centre. The Ironmongers Company- This is a restricted grant allocated towards the cost of restoring the railings. Stsbility & Renewal Programme- This is a restricted grant awarded to cover Covid-19 related expenditure including renewal costs. Small Capital Programme equipment. Health & Safety Capital Programme applicable equipment. Organisations Emergency Programme application. Community Foundation - This is a restricted grant awarded to cover volunteer training & equipment to support online performances. Co-op Covid Grant- Restricted funding to be utilised on project as specified on application. The notes on pages 10 to 18 forni part of these financial statements. 17 This is a restricted donation allocated towards the restoration of Restricted funding provided to cover expenditure costs on applicable Restricted funding provided to cover expenditure costs on Restricted funding to be utilised on project as specified on E-sign ID= dObd9211-12¢0-4a7b-aea2-8c22982d734d Portico of Ards Ltd Notes to the Financial Ststements Year Ended 31 March 2024 ANDBC Arts Project- Restricted funding to be utilised on project as specified on application. ACNI National Lottery Fund - Restricted funding to be utilised on project as specified on application. ACNI Health & Safety Programme - Restricted funding provided to cover expenditure costs on applicable equipment. Access & Inclusion - This is a restricted grant awarded to purchase costs & installation of stage lighting. ANDBC Arts Project - This is a restricted grant awarded to assist in the costs associated with the Arts Project. DAERA Rural Micro Capital Grant - This is a restricted grant to be utilised on the purchase of a safety evacuation chair. Association of Independent Volunteer Centres - This is a restricted grant awarded to provide training for volunteers. Dormant Accounts Fund - This is a restricted grant awarded to future-proof the operations of Portico of Ards Ltd. Ards & North Down Borough Council - This is an unrestricted grant to be utilised by Portico of Ards Ltd over the next years which was previously treated as a restricted grant. ANDBC Tourism Events Grant - This is a restricted grant to be utilised on the provision of comedy performances by Portico of Ards Ltd. ANDBC SLA Grant - This is a restricted grant to be utilised on the delivery of 4 events by Portico of Ards Ltd. ANDBC Events & Festivals Fund This is a restricted grant to be utilised by on the delivery of events, festivals and programming by Portico of Ards Ltd. Dunleath Charity Fund This is a restricted grant to be utilised to the support the staging of Tenebrae 2024 by Portico of Ards Ltd. 17 Analysis of net assets between funds Unrestricted funds Restricted funds Total Fixed assets Other debtors Cash and current investments Other current liabilities Total 68.572 2,322 71,268 (7,233} 134,929 908,365 36,880 976,937 39,202 71,268 {7,233) 945,245 1,080,174 18 Related party transactions During the year related paty transactions were £980 (2023.. £1,882>. The notes on pages 10 to 18 forni part of these financial statements. 18 This Document has been Signed with a **secure electronic signature** via E-Sign. ## **Envelope Details** |**Title**|Portico of Ards Limited Accounts Year End 31 March 2024| |---|---| |**Author**|KPS (info@kpsca.co.uk)| |**Envelope Created on**|Wed, 11 Dec 2024 13:27:38| |**Envelope ID**|d0bd9211-12c0-4a7b-aea2-8c22982d734d| ## **Document Details** |**Title**|Portico_of_Ards_Limited_Financial_Statements_Year_Ended_31_March_2024_for_signing.pdf.pdf| |---|---| |**Digital Fingerprint**|e91c74af-dcb2-45b3-91d2-a92d9a4e6c62| ## **Document Signers** Scan/Click the QR Code to view signature information |**Name**|**Chris Bunting**| |---|---| |**Email**|chris.bunting@porticoards.com| |**Status**|**SIGNED**at Wed, 11 Dec 2024 13:54:23 GMT(+0000)| |**Signature Fingerprint**|4127b452-2d65-48e7-a7a6-9706f11e5fa9| |**Name**|**Neil McClure**| |**Email**|neil.mcclure@porticoards.com| |**Status**|**SIGNED**at Wed, 11 Dec 2024 13:33:30 GMT(+0000)| |**Signature Fingerprint**|701c47b0-93a9-4d75-89fe-db10fa0e50d7| |**Name**|**KPS**| |**Email**|ksmyth@kpsca.co.uk| |**Status**|**SIGNED**at Wed, 11 Dec 2024 14:37:24 GMT(+0000)| |**Signature Fingerprint**|864c3cf0-c931-49d0-b3cd-e610b891e6d0| |**Document History**|| |---|---| |**Wed, 11 Dec 2024 14:37:24**|**KPS**Signed the Document (IP: 151.2.227.100)| |**Wed, 11 Dec 2024 13:54:24**|**Chris Bunting**Signed the Document (IP: 89.34.96.99)| |**Wed, 11 Dec 2024 13:33:30**|**Neil McClure**Signed the Document (IP: 81.132.48.19)| ico. VKAS . legislation.gov.uk 150 27(KJl *** Inloimallon Coff1￿55￿￿n￿ 5 Offlc