PORTADOWN 2000 TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) .FOR THE YEAR ENDED 31 MARCH 2023 The dlrectors, who are also trustees of the charity, present thoir rgport and financlal slalemenls for the year ended 31 March 2023. The finaDC1813talement8 have been prepared in accDrdance with lh& accountlng pollcles Sel out In note 1 to th8 flnanclal &lalBments and comply with the charlly's Memorandum and Artlcles af AssoGiation, Ihe Companles Act 2006 and "AGcounling and Reportlng by Charlties= Statement of RecommehdBd Pracllce appIlble lo chaTllleB preparing thelr accounts In accordance with th8 Financlal Reporting Standard applicable in the UK and Republic of IrÈlènd (FRS 102)" (as amendod for accounllng perlod8 commenclng from 1 January 20161 Raferance and adthlnlstratlve detslls Refer8nce and admlnlslratlve detai16 are Shown In thg schgdul8 of tnembers of the board and prof88slonal advlsois on page 1 of th8 financial statements. Day lo day management dutles have been delegated to the company manageT, Portadown 2000's charity number Is 102627 and the company reglslration number is Nl 028191. Publlc benelEt Btatement The Board of Portadown 2000 confirm that they have hed cJu8 regard for the guldanc8 produced on Publls Bpneflt by the Charity Commlsslon for Northern Ireland, and are pleased lo report that durlng th8 y8ar the charltable company h8s continued to provlcle Publlc Benefit through the 8ervices we offer, In p&rtlcular. the dlrèctcrg oonslder how planned activities wlll conlrlbule lo the alms and objectives they have sel out. The publlc benefits that flow from the purpos8a of promoliDg the b8n&fit of the Inhabltants of Portgdown and Improvlng thelr conditions of Ilfe and economic wellbeing are:. The provlslory of a shared space, namely the Millènnlum Court Complex in Fortadown lo provide a free acce55 area to promote Gullural, artistlts and other actlvitles across Ihe soclal dlvide lo Improve the condltions of Ilfa for the inhabitsnts of Portadown,, The advan¢om8nl of educallon of the publlc in the areas of culture and th8 arts., Conlributlng to and Improvlng the soc181 and cultural welfare of th8 Portadown community. The benefits can be evidenced In records kept by the organlsatlon of the numbers of those of 8118ges who hav& attend8d workshops, exhibltlons and eduoatlonal courses. Evldance can also be found in surv8ys of living standards and general well-being from thg in¢reaslng number of Inh8bltant8 who make usè of the premi685 and avail of the 88rvlces provided. Some prlvate baneflt Is obtained by the owners of small businesses who rent unlts and use the markèt place but this Is ancillary to the main purpose and 1$ greatly outsv81ghed by the galn8 In publlc benefit, No harm arls8s from th858 purposes. ObJectiVes and actlvltles PortAdown 2000's m15sian is to promote and devèlop Portadown and malnlain the operallon of the Mlllennlum Court t William Slreet, Portadown. The diarlty's objects are 8el out in the Memor8ndum of Artlcles of AssociatSon and may be summaTised as: To promDte the beneflt of Ihe inhabilanls of the Portadown sactOF of Craigavon In the County Amiagh {herein4fter described as the '8¥ea of benefiy) without distinotloN of sex, race, polltical, Teligious or other opinion, by assoclaling the slatulory aulhorilies, volLtntary organisalions, and Inhabilants in a cornmon effort 10 gdvanre industry, commerce, town development Includlng economlc developmènt, educalictrn, tourism and lo provlde facllltles In the Inleresls of gocial welfarè ft)r recreatlon and lelsuie tlme o(Lupatlon, all with thè oblettt of Improvlng th8 condillons of IWe and economic wellbelng for said inhabitants, and fostering poace and reconciliation, the quality of life and prosperity of the said Inhabitants. To provide assistance to Individuals and organisalions in .furtheran'ce of the afore8aid oblects or any other oblecl8 from lime lo lime approved by the BDSrd Df the Compgny.
PORTADO TRUSTEES: REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUÈD) FOR THE YEARENDED. 31 MARCH 2023 Our charitabl& company doe& tha follDWlng: Provides 8nd equips pr&mis8s and centres raquired for th2'purposè&oYth&chanteb18 oomparly. QrgafilsBS. £porisors and cDnducfs (whetaer alon& or th olhers> edutratlcnal and tralnlng courses and me8tlngs,,conforence&'ar)d èxhibitions.and other.gvertts includlng ttliilc and eullutal aotIv¢ es.. Publi$h6sÉnd distribtstes materials relatlng tJ the'work Of th&-cllatitable.ttompany. Seeks, rec8lves. admlnlsÈrs 2nd allo¢ats$:gr,ants and glfts madè available to thè oharltable company Yor I oforesaid objects knd whethèr or nbt'5uch granls. and glts,gre,.m8d& from Such PLtbll¢ luhds.or Dthewise) undgr the terms anrl cOTTdltlon& 8ttachad to suth grants ond gjft Golleots, co-ordinat&s and fftak8s,avallable (by Pubifcatlon or.ény othBr for,m of,comtliunl¢¥tlon) Inforrhatlon r.BlatiV8 to the actlvltle8 of'the charit8bl& company. T.he trustèes hav6 pard du& rBgard 'to,gyldan¢a i.ssued by the Charity Co>nmlsslon In ,declding wfat aVItIeS the charity should undortake. Achièvements and p&rfomianGè All aGtiiiitles catried out"wiEhln,the day to, day of P200Q are sup8iVlèèd by,the Company Mgnayer..We.have. shop front oremlsès now fijlly operatlonAI 8lncE Jun& 2019, We.hav.8 8 Ineub2tlon LFnlt8 Which allow new tr¥ders to trade wlth Ilmitetl SE[n9 up',ÈostB, Tha$9 unlts are fully frjntttlongl. otsE of our Main propertles houses several tenant$,.gS WEII. as Zio's, Restaurant whlch is'ono. of the most &ought-8fter 8ating estsb118hrnentG. Ih. Cr8lg8von. W8. prld& ourseltr¢s In assiatlng youno enftepr8n2LJrsmaka thelr vlslorl a reallty, We,8lso hav8'V8ry Strong Ilnks, wlth commun"rty'gFoups, schDOls, Chatr1bot of Comn)erc6, Rotsty, Probus, ChUh&S and youth groups, The Go.ManRg@tr is Chair Of Comrnuhity Planftirig, a soclsl partnBr on, Peace IV, Chalrper8On Of TADA (Rural Support Nthork), Dir&ctpriof PortÈdDwn Gfedit Unloh, Board Member of St John Ih'e Baptlst Coll99B and on Executivè ¢otrsmittee tsf Chambgr of Commèrce. These gr.oup& are usars of Iha centre. Th8 Mafket Venue hD$ts AGM',È and CommunSty actlvltl88. FlnanclHI revlew Resenrès pollcy Tho, direcbrs, have èStablish8d 8 Pt)fity whereby tha unrestrfoted funds not tMmItt0 C*r Investèd In tsnglblè 8È$Ots hold, by the ttharlty ar.e néèded to meet th8 Worklrtg ¢aptsl requlrements of the ohartty and b enable ltrr8 orggnlsation to.efl8dlvèiy man8oe.aDy, unforaseen risks or finsncl81 difficullles. The balance of unrestrlcted funds at Jlst Marca 2023 '1s £,1,354,D39 (2022. £1,350,438 ). Tha balpnc6 of free reseN6s at 31.&t March .2D23 Is £125,043. The, Directors arè sattsflèd that the kev61 of ,rè$&tVé8 1$ suffi¢leht'tD cont1Thtt. the currènt atttlvilles uf the eharfty In the event of 8 ,8ignlficattt ,shorlfall in Income Ièvals. The Board of Dlr8Ctors wlll continue lo, rgvlew ,the serveS pollcy to ensur& that th8 poIIty Ihe n&ed8 of th& organlsation Ih . eh8nylrJg environment. Rèsults The roaults for the finanoial year arè Set DiJtfuIIy In the financlHI statèmonts. lryeoma for the year totalled £269,757, Mlh118t eKpèndlture totallod £285,921, whltih con81sted of èxpendltu¢¢. oh chgrltable £oltvRleè totalling £285,921. The,net. èxpenditure for thè yèar of £16,164 h8$ been tsken from.accumulat8d funds.
PORTADOWN 2000 TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Rlsk manag?mÈnt The dlre¢tors havÉ overaS1 respottslblllty for ensurlng that the charlty has In placo H.n appropriate system of controls, nanci21 and OtheIse, to provlde reasonable assuran that,. thg charity is opgratlng effisiently and effaotively; its a88et8 gre Bafeguarded agalnst unauthorlsed use or di&p051tion', proper records arè malntained 2nd flnancial information used within the charlty or for publicatlon is rellable. the charity complles with rel8vant laws and regu18tions', ond the charity's systems of financlol conlrol are designed to provide reasonable, bul not absoluts assurance again81 materi81 mlsstatement or loss. The major risks. lo which the charlty i& exposed, a& Identifigd by th6 Irustees, have been reviewed and sy51em5 have been established to mitigat8 those riaks. The diractors have a risk management strategy which compilses.. An annual revlaw of the risks the charlty may face; The establlshment of 5y5t&ms and procedure8 to miligate those risks Idenllfied In th8 plan,, and The Implemonlatlorb of procedure6 d8slgned lo minlmisè any potentl21 Impact on the charity should thoBe risks moterlallse.. Polènllal external r16ks to fund5no and Irading actlvty have requlrgd ongolng revlew and updating of th8 Stral8gic and operational plan6 to sllow for the diversificallon of fvnding and actlvllle8. Internal Conlrol rlsks are mlnlmlsed by the Imptementation of structures and procedures for managing and reportlng on all contractuel activ(tl8S. Procedurgs ar& in plaGe.to ensure compliance wllh health and safety, Plans for future perlods Portadown 2000 has 2 listed buildings at the reor of the Mlllennlum Court buildlng In Thomas Strèet. The Board Is cyrrentty carrying out consolldallon and Identifying fundlng sources for the renovation of these premlses. The Board Is also atteTnpllng to idenllfy now sources of Income to assist In olhnr venlure5 tp a551st in more successful community engagement. 8tructiirei governance and management Thè Charlty 1$ 8 company Ilmlted by guarantee, InGorporated on 22 February 1994 and registered aB a charlty, Wlth Th8 Charity Commlsslon for Northern Irèland, on 5th August 2015. The company was estab118hed und6r a Memorandum of Assodation whlch established the oblecls 2nd powers of the charitable company and is govern8d under Ils Artlcles of Assocjalion. There are currently 6 members,
PORTADOWN 2000 TRusfEES' REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ThB trualees, Who are 0180 th& dtrèolorè for Ihe purposè ol ¢Offtpany law, 8nd whth #grved durlng.thè yaar)d up to tha date of.slgnatur8 of.'Iha flnanoiqlEtatsmènt8 wero:. Walkèr EFlamlAg Q Hatch B McL2wgNln JKIWble &.M¢KethW.n T Carv1 J Flah8rty 'T Pry¢è PDufy JLPortèr. T G M8iiorr WJ Brl#gs (ROSn8&28 Stsmbar2022) Ihppolntad l June 2023] (Apptsllrtbd l JiJn• 2ts23) Appolnthi•ntpf dlr&¢tots As 88t out'ln thè Artldè8 ofA&eoFlotlon, th• numbèr of dlrèctor81¥14, Thvillr8olgi& 0120ted a¥ $&t Yjut In the Artld&8 o1Aasoolatlon. 'Th& Illractorg javo thg powor to wpt mgmber8 to lil apoolallst roleg, IwtBp thot th¥ totsl'numbpr of d1recto ¥hall not.al any tIMe aYAoed 14. Cbknopled dlrBtIOYé ii1gy hold tsffltse untsj thaa%lAkM, and $hAII th8n be ellqlbk faT ra- &leOtfon. Th.dtrfjrS arè olgo ch8dty.trJ8tse8 forth& purpo908 uf charity law ar4d JJndir thè comp8ny'8 ArlTd•s.8ro.known a8 meffiberj ofthè.:Bogrd of DlreclorÈ. Und8r thè r8qlllromants of tThg,'MèmoNntlum andArtl¢ia$ of',A85Oolatlofi all.of the IrtemberBth? tyoard fyf ufeobrs mugtrOttr&from office annually, ljut my'be'£ll$lbie for T&4letttlon. N¢n& bf tha Jredor.g ha8 aNy..bèngftGlal ihtèrèÈt In th? tomp>My, All Of.th'8,L)Ir&or8.Ira ttsmbar¥ of,th• ¢oMpaty and guarAntsa to.oalltrlbuts 21 In the &vent Of a.wltsdlMg up. Organlsatlon.'$tryctuw' The bogrtl of dlrertors arè.. r8spLinslblJ', for polity, Itrakgyi finanr8 .•nd organlBallOnal. IFFues, an# gpproxlffjetsly 10d12 tlmas poryear, Dlt&ctoF Indu¢tlon.and tralnlng dlrèctorg. und8rgo an Ihductlbn ts, bdèf them on thelr leoll obllgallonè d6T fajadty and CDmp9ny Jow, thè conl8nl 0.1 the Memoranduth ArtlcEoTr of AFBooklllun, orOan18atlonaT plahhlnts and décl$Eon.rrtaklrtg. prp¢oB5DS, th8 StTalaglc,. operatlonal. ,qnd bUSlhBse plan, and r8cèM. t nancIal :P$rfomian¢a..,Of thè. OrAAnls&iion, Durlhy th& Induètlon thèy al&b m¥•t kèy errtployaès, ahd othfir dk9otor8..Dtrets are gncouraged to. ¥ttènd aPPK>prlate in- hou$6 and extèrnal tr8tnlng èvents wh8r8,thB8è wlll,tsdl1lqt6t undèrtakinoblthelr rtsl The tru8teè¢ rgPOrt.waÈ fjpproved by the Board of Trustèbi. B Walker TrA(9ts9