Company Registration Number: N1028191
Charity Registration Number: NIC102627
Portadown 2000
(Charitable Company Limited by Guarantee)
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2025
McGarry

Portadown 2000
(Charitable Company Limited by Guarantee)
Contents
For the
ear ended
Imar
h 2025
Page
General Information
Trustees Annual Report
Independent Examiner's Report
io- 11
Statement of Financial Activities
12
statement of Financial Posltion
13-14
Notes to the Financial Statements
15-24

Portadown 2000
(Charitable Company Limited by Guarantee)
GENERAL INFORMATION
Board of Trustees
B Walker
E Fleming
G Hatch
JK Twyble
B McKeown
T Carvill
J Flaherty
T Pryce
P Duffy
JL Porter
TG Mallon
WJ Briggs
BJ Friar
appolnted 17th Aprll 2025
RM Mccaffery appolnted 26th June 2025
reslgned 12th September 2024
reslgned 12th September 2024
reslgned 10th February 2025
reslgned Iolh February 2025
Company Secretary
G Lawless
Reglstered offlce
Millennlum Court Building
William Street
Portadown
Cralgavon
Co Armagh, BT62 3NX
Company registration number N1028191
Charity registration number
NIC012627
Independent examiners
McGarry & Co
Chartered Accountants
Millennlum Court
William Street
Portadown
Co Armagh, BT62 3NX
Bankers
Danske Bank
39 Market Street
Lurgan
Co Armagh, BT66 6AB
Solicitors
Walker McDonald
2-6 Edward Street
Portadown
Co Armagh, BT62 3LX

Portadown 2000
(Charitable Company Limited by Guarantee)
TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT)
For the year ended 31 March 2025
The Directors, who are the trustees for the purpose of charity law, have pleasure in
presenting their report and the unaudited financial statements of the charitable company for
the year ended 31 March 2025.
The financial statements have been prepared in accordance with the Statement of
Recommended Practice "Accounting and Reporting by Charities" (FRS 102), United Kingdom
Generally Accepted Accounting Practice and the Companies Act 2006.
The reference and administration details of the charity are as shown on page 3.
The Trustee's report contains the information required to be provided in the Trustees, Annual
Report under the Statement of Recommended Practice (SORP) guldelines, The trustees of
the company are also the charity trustees for the purpose of charity law and under the
company's consitutions are known as members of the board of trustees.
In thls report the trustees of Portadown 2000 present a summary of Its purpose,
governance, activities, achievements and finances for the financial year to 31 March 2025.
The company Is a registered charity and hence the report and results are presented in a
form which complies with the requlrements of the Companies Act 2006 and, although not
obliged to comply with the Statement of Recommended Practice, the organlsation has
implemented Its recommendations where relevant in these financlal statements
Public Benefit statement
The Board of Portadown 2000 confirm that they have 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 charitable company has continued to provide Public
Benefit through the services we offer. In particular, the directors consider how planned
activities will contribute to the aims and objectives they have set out.
The public benefits that flow from the purposes of promoting the benefit of the inhabitants of
Portadown and improving their conditions of life and economic wellbeing are'.-
•The provision of a shared space, namely the Millennium Court Complex in Portadown to
provide a free access area to promote cultural, artistic and other activities across the social
divide to improve the conditions of life for the inhabitants of Portadown.
•The advancement of education of the public in the areas of culture and the arts.
•Contributing to and improving the social and cultural welfare of the Portadown community.
The benefits can be evidenced in records kept by the organisation of the numbers of those,
of all ages, who have attended workshops, exhibitions and educational courses. Evidence
can also be found in surveys of living standards and general well-being from the increasing

TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT)
For the year ended 31 March 2025
number of inhabitants who make use of the premises and avail of the services provided.
Some private benefit is obtained by the owners of small businesses who rent units and use
the market place but this is ancillary to the main purpose and is greatly outweighed by the
qains In public beneflt. No harm arises from these purposes.
Objectlves & Actlvltles
Portadown 2000's mission Is to promote and develop Portadown and maintaln the operatlon
of the Millennium Court at William Street, Portadown.
The charity's objectives are set out in the Memorandum and ArtScles of Association and may
be summarlsed as..
•To promote the benefit of the inhabitants of the Portadown area of Cralgavon in County
Armagh (hereinafter described as the 'area of benefit,) without distinction of sex, race,
political, religious or other opinion, by associating the statutory authorlties, voluntary
organisations, and inhabitants in a common effort to advance industry, commerce, town
development including economlc development, educatlon, tourism and to provide facillties in
the interests of soclal welfare for recreation and leisure tlme occupation, all with the object
of improving the conditions of life and economic wellbeing for said inhabitants, and fostering
peace and reconciliation, the quality of life and prosperity of the said inhabltants.
•To provide assistance to individuals and organisations in furtherance of the aforesaid
objects or any other objects from time to tlme approved by the Board of the Company.
Our charitable company does the followlng.,
•Provides and equips premises and centres required for the purposes of the charitable
comparsy.
•Organises, sponsors and conducts (whether alone or with others) educatlonal and training
courses and meetings, conferences and exhibitions and other events including civic and
cultural activities.
•Publishes and distributes materials relatlng to the work of the charitable company.
•Seeks, recelves, administers and allocates grants and gifts made available to the charitable
company for its aforesald objects (and whether or not such grants and gifts are made from
such public funds or otherwise) under the terms and conditions attached to such grants and
gifts.
•Collects, co-ordinates and makes available (by publication or any other form of
communication) inforrnation relative to the activities of the charitable company.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding
what activities the charity should undertake.

TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT)
For the year ended 31 March 2025
Achievements & Performance
All activities carrled out within the day to day running of P2000 are supervised by the
Company Manager. We have 8 incubation units which allow new traders to trade with limited
setting up costs. These units are fully functional. One of our main properties houses several
tenants, as well as Zio's Restaurant which is one of the most sought-after eating
establishments in Craigavon, We pride ourselves in assisting young entrepreneurs make
their vision a reality.
We also have very strong links with community groups, schools, Chamber of Commerce,
Rotary, Probus, churches and youth groups.
Financlal Revlew
Financial Performance
The results for the financial year are set out fully In the financSal statements.
Income for the year totalled £216,306, whllst expendlture totalled £292,498, which
consisted of expenditure on charitable activities totalling £292,498.
The net expenditure for the year of £76,192 has been taken from accumulated funds.
Reserves Pollcy
The directors have establlshed a pollcy whereby the unrestrlcted funds not committed or
invested in tangible assets held by the charity are needed to meet the working capital
requirements of the charlty and to enable the organisatlon to effectively manage any
unforeseen risks or financial difficultles.
The balance of unrestricted funds at 31st March 2025 is £1,387,469 (2024., £1,481,431 as
restated). The balance of free reserves at 31st March 2025 Is £257,481. The Dlrectors are
satlsfied that the level of reserves is sufficient to continue the current activities of the charlty
in the event of a significant shortfall in income levels. The Board of Directors will continue to
review the reserves policy to ensure that it meets the needs of the organisation in a
changing environment.

TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT)
For the year ended 31 March 2025
Risk Management
The di rectors have overall responsibility for ensuring that the charity has in place an
appropriate system of controls, financial and otherwlse, to provide reasonable assurance
•the charity is operating efficiently and effectlvely;
•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 provlde reasonable, but not
absolute assurance against material misstatement or loss.
The major risks, to which the charity Is exposed, as identified by the trustees, have been
reviewed and systems have been established to mitigate those risks,
The directors have a risk management strategy which comprises..
•An annual review of the risks the charity may face;
•The establishment of systems and procedures to mitigate those rlsks identified in the plan.
and
•The implementation of procedures designed to minlmlse any potential Impact on the charity
should those risks materialise,
Potential external risks to funding and trading activity have required ongoing review and
updating of the strateglc and operational plans to allow for the dlversificatlon of funding and
actlvSties.
Internal control risks are minimised by the Smplementation of structures and procedures for
managing and reporting on all contractual activities.
Procedures are in place to ensure compliance with health and safety.
Structure, Governance and Management
Organlsational structure
The charitable company is a company limited by guarantee, not havlng a share capital.
The charitable 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.

TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT)
For the year ended 31 March 2025
Directors
The Directors during the year are the same as the Trustees as listed on page 3.
As set out in the Articles of Association, the maximum number of directors is 14. The
directors are elected as set out in the Articles of Association.
The directors have the power to co-opt members to fill speciallst roles, but so that the total
number of directors shall not at any time exceed 14. Co-opted directors may hold office until
the next AGM, and shall then be eligible for re-election.
The directors are also charity trustees for the purposes of charity law and under the
company's Articles are known as members of the Board of Directors. Under the requirements
of the Memorandum and Articles of Association all of the members of the Board of Directors
must retire from office annually, but may be eligible for re-election.
None of the directors has any beneficial interest in the company. All of the Directors are
members of the company and guarantee to contribute £1 in the event of a winding up
New directors undergo an induction to brief them on their legal obligations under charity and
company law, the content of the Memorandum and Articles of Association, organisational
planning and decision-making processes, the strateglc, operational, and buslness plan, and
recent financial performance of the organisation, During the Induction, they also meet key
employees, and other dlrectors. Directors are encouraged to attend approprlate in-house and
external training events where these will facilitate the undertaking of their role.
Taxatlon Status
The charitable company Is recognised as a charlty by HM Revenue & Customs. Accordingly,
the charitable company has availed of the exemptions contained in Chapter 3 Part 11
Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992.
DSrectors' Responsibillties
The Dlrectors are responsible for preparing the financial statements in accordance with
applicable law and United Kingdom Accountlng Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year
which give a true and fair view of the state of the affairs of the charitable company and of
the incoming resources and application of resources, including the income and expenditure,
of the charitable company for that year. In preparing these financial statements the
Directors are required to,.

TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT)
For the year ended 31 March 2025
•select suitable accounting policles and apply them consistently;
•observe the methods and principles in the Charities SORP (FRS 102);
•make judgements and estimates that are reasonable and prudent.
•state whether applicable UK Accountlng Standards have been followed, subject to any
material departures disclosed and explained in the financial statements. and
•prepare the financial statements on the going concern basis unless It is inappropriate to
presume that the charitable company will continue in operation.
The Directors are responsible for keeping adequate accountlng records that disclose, wlth
reasonable accuracy at any time, the financial position of the charitable company and to
enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence
for taking reasonable steps for the preventlon and detectlon of fraud and other irregularities.
Small Companies Exemption
The above report has been prepared Sn accordance with the speclal provisions relatlng to
small companies within Part 15 of the Companies Act 2006.
Thls report was approved by the Board of Trustees on 11>
behalf by:
i L-2v2£.
and slgned on its
Trustee fiQiJ-' K¢
Tr
tee (rL."A£. f)¥,
Company Reglstration Number: N1028191
Charity Reglstration Number: NIC102627

Portadown 2000
(Charitable Company Limited by Guarantee)
Independent Examiners, Report to the members on the unaudited
financial statements of Portadown 2000 for the year ended 31 March
2025
We report on the financial statements of the charitable company for the year ended 31 March
2025 which are set out on pages 12 - 24.
Respective Responsiblllties of Trustees and Independent Examiner
As the charitable company's Dlrectors, who are the trustees for the purpose of charity law, you
are responsible for the preparation of the financial statements in accordance with the
requirements of the Companies Act 2006. Having satisfied ourselves that the charitable
company is not subject to audit under company law, and is ellgible for Independent
examination, it is our responsibility to,,
a) examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008.
b) follow the procedures laid down in the general dlrections given by the Charlty Commission
for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and
c) state whether particular matters have come to our attention.
Basis of Independent Examlner's Report
We have examined your charitable company's financial statements as required under section
65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in
accordance with the general directlons given by the Charity Commisslon for Northern Ireland
under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included
a review of the accounting records kept by the charitable company 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 charitable company Directors
concernlng any such matters.
Our role is to state whether any material matters have come to our attention glving us cause
to believe..
a) That accounting records were not kept in accordance with section 386 of the Companies
Act 2006; or
b) That the accounts do not accord with those accounting records,. or
c) That the accounts do not comply with 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 preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland. or
d} That there is further information needed for a proper understanding of the accounts to be
reached.
io

Independent Examiners, Report to the members on the unaudited
financial statements of Portadown 2000 for the year ended 31 March
2025
Independent Examiner's Statement
We have completed our examination and have no concerns in respect of the matters listed
above and, in connection with following the Directions of the Charity Commission for Northern
Ireland, we have found no matters that require drawing to your attention,
Ruairl McGarrv
McGarry & Co Chartered Accountants
Millennlum Court
Wllllam Street
Portadown
Co Armagh, BT62 3NX
Date: IK2.

Portadown 2000
(Charitable Company Limited by Guarantee)
Statement of Financial Activities
For the year ended 31 March 2025
Unrestricted Restricted
Funds
Funds
2025
2025
Total
Funds
2025
Total Funds
2024
Notes
INCOME AND ENDOWMENTS
Charitable activities
other Income
TOTAL INCOME AND
ENDOWMENTS
(as restated)
260,417
137,666
11,861
66,779
204,445
11,861
149,527
66,779
216,306
260,417
Expenditure
Charitable activities
Total expendlture
243 489
243 489
292 498
292 498
331 879
331 879
Net income / (outgoing)
resources for the year
(93,962)
17,770
(76,192)
{71,462)
Transfers between funds
Balance brought forward
1,481,431
909 1,482,340
1,553,802
Balance carried forward
1 387 469
18 679 1 406 148
1 482 340
The above Statement of Flna nclal Activitles Includes all Informatlon as requlred to be dlsclosed by the
Companies Act 2006.
All of the actlvities of the cha ritable company are classed as contlnuing.
The Statement of Financlal Activities includes all ga Ins and losses recognised during the year.
The notes on pages 15 to 24 form an integral part of the financial statements.
12

Portadown 2000
(Charitable Company Limited by Guarantee)
Statement of Financial Position
As at 31 March 2025
2025
2024
Notes
(as restated)
Non-current Assets
Property, plant and equipment
1 148 388
1 195 500
Current assets
250
11,070
276 160
287,480
250
41,062
294 402
335,714
Receivables
Cash and cash equivalents
Payables: Amounts falling due within one
year
10
Net current assets
259 262
299 568
Total assets less current liabilities
1,407,650
1,495,068
Payables: Amounts falling due after one
year
Net Assets
1406 148
1 482 340
REPRESENTED BY:
Unrestricted funds
Restricted funds
Total Funds
12
12
12
1,387,469
1,481,431
909
1 482 340
1 406 148
The directors, statements shown on the following page form part of this Statement of Financial
Position.
13

Portadown 2000
(Charitable Company Limited by Guarantee)
Statement of Financial Position
As at 31 March 2025 (Continued)
These financial statements have been prepared in accordance with the provisions applicable to
the small companies, regime within Part 15 of the Companies Act 2006.
For the financial year ended 31 March 2025 the company was entitled to exemption from audit
under section 477 of the Companies Act 2006,
The Directors conflrm that the members have not requlred the company to obtain an audit of
its financial statements for the year in question in accordance with section 476 of the
Companies Act 2006.
The Directors acknowledge thelr responslbilities for ensurlng that the charltable company
keeps accounting records which comply with Sectlon 386,. and for preparing financial
statements which give a true and fair view of the state of affairs of the charitable company as
at the end of the financial year and of Its incoming or outgoing resources for the financial year
in accordance with the requlrements of sections 394 and 395 and which otherwise comply with
the requlrements of the Companies Act 2006 relating to fSnancial statements, so far as
applicable to the charltable company,
The notes on pages 15 to 24 form an integral part of the financial statements.
The financial statements were approved and authorised for issue by the Board of Directors and
signed on their behalf by:
Trustee
Trustee L .'
"C)14
Date
Date
Company Registration Number: N1028191
Charity Registration Number: NIC102627
14

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
I. GENERAL INFORMATION
Portadown 2000 is a charitable company limited by guarantee incorporated in Northern
Ireland. In the event of the charitable company being wound up, the liability in respect of the
guarantee is limited to £1 per member of the charStable company. The address of the
registered office is as shown on page 3.
2. ACCOUNTING POLICIES
The following accounting pollcies have been applied conslstently in deallng with items which
are considered material in relation to the charitable company's financlal statements.
2.1 Statement of Compliance
The financial statements have been prepared in accordance wlth Accountlng and Reportlng
by CharStes.' Statement of Recommended Practlce (SORP) applicable to charities preparing
their financial statements in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102) effective l January 2021 (Second Edition), the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102) and the Companles Act 2006.
2.2 Basis of Preparation
The financial statements are prepared on a going concern basis under the historical cost
convention unless otherwise stated in the relevant accounting pollcy. Historical cost is
generally based on the fair value of the consideration given in exchange for assets. The
following accounting policies have been applied consistently in dealing with items which are
considered material In relation to the charitable company's financial statements.
2.3 Cash Flow Statement
The charitable company has applied Update Bulletin 2 as published on 5th October 2018
(effective l January 2019) and does not include a cash flow statement on the grounds that it
is applying FRS 102 Section IA.
15

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
2.4 Income and Endowments
(l) Charitable Actlvlties
Income from charitable activities includes Income recelved under contract or where
entitlement to grant funding is subject to specific performance conditions. It Is recognised as
earned as the related services or goods are provided. Grant income is recognised in the
Statement of Financial Activities when receivable. Grant income included in this category
provides funding to support projects and Is recognised where there is entitlement, certainty
of receipt and the amount can be measured with sufficient reliability.
(11) Other Income
Other income is recognised in the Staternent of Financial Activities where there is
entitlement, certainty of receipt and the amount can be measured with sufficient reliablllty.
2.5 Expendlture
Expenditure is recognlsed when a Ilability is Incurred. Contractual arrangements and
performance related grants are recognlsed as goods and services are supplied, Where costs
cannot be directly attributed to a particular headlngi they have been allocated to activities on
a basis consistent with use of resources. Staff costs and overhead expenses are allocated to
activities on the basis of staff time spent on those activities.
(i) Charitable Activities
This comprises all the resources applied by the charitable company in undertaking its work to
meet its charitable objectives. Charitable activities will Include the costs of governance
arrangements which relate to the general running of the charitable company.
2.6 Fund Accounting
The charitable company has two types of funds for which it Is responsible at the year-end,,
Unrestricted Funds
Funds which are expendable at the discretion of the Board of
Directors in furtherance of the objectives of the charitable company. In additions, funds may
be held in order to finance capital investment and working capital.
16

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
Restricted Funds
Income received for specific purposes. Such purposes are within the
overall aims of the charitable company.
2.7 Propertyi Plant and Equipment and Depreciation
All property, plant and equipment are initially recorded at cost.
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over Sts expected useful Ilfe, as follows..
Leasehold Property
20/0 Straight line
Fixtures, Fittings & Equipment 150/0 reducing balance
Plant & Machinery
15 - 250/0 Reducing Balance
2.8 Trade and Other Recelvables
Trade and other receivables are initially recorded at fair value and thereafter stated at cost
less impairmentlosses for bad and doubtful debts.
2.9 Trade and Other Payables
Trade and other payables are initially recognised at falr value and thereafter stated at cost.
2.10 Taxation
As a charity, the charitable company Is not liable to Corporation Tax.
2.11 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call wlth banks, other short
term highly liquid investments with original maturities of three months or less.
2.12 Finance Costs
Finance Costs are charged to the Statement of Financial Activities over the term of the debt.
17

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
2.13 Flnancial Instruments
(i) Financlal assets
Basic financial assets, including trade and other receivables, cash and bank balances and
amounts owed by related parties and are initially recognlsed at transaction price, unless the
arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts dlscounted at a market rate of Interest. Such assets are
subsequently carried at amortised cost using the effective interest method.
At the end of each reporting perlod financlal assets measured at amortised cost are'assessed
for objective evidence of impairment. If an asset is impaSred the Impairment loss Is the
difference between the carrying amount and the present value of the estimated cash flows
discounted at the asset's original effectlve interest rate. The impairment loss is recognised in
profit or loss.
If there is decrease In the Impairment loss arlsing from an event occurring after the
impalrment was recognised, the Impairment is reversed. The reversal is such that the current
carrying amount does not exceed what the carrying amount would have been had the
impalrment not previously been recognised. The Impairment reversal is recognised in profit
or loss.
Financial assets are derecognised when (a) the contractual rlghts to the cash flows from the
asset expire or are settled, or (b) substantially all the risks and rewards of the ownershlp of
the asset are transferred to another party or (c) despite having retalned sorne signlficant
risks and rewards of ownership, control of the asset has been transferred to another party
who has the practical ability to unilaterally sell the asset to an unrelated third party without
imposing additional restrictions.
(li) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and
amounts owed to related parties are initially recognised at transaction price, unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at
the present value of the future receipts discounted at a market rate of interest. Debt
instruments are subsequently carried at amortised cost, using the effective interest rate
method. Fees paid on the establishment of loan facilities are recognised as transaction costs
of the loan to the extent that it is probable that some or all of the facility will be drawn down.
In this case, the fee is deferred until the draw-down occurs. To the extent there is no
evidence that it is probable that some or all of the facility will be drawn down, the fee is
capitalised as a pre-payment for liquidity services and amortised over the period of the
facility to which it relates.
18

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
Trade payables are obligations to pay for goods or services that have been acquired in the
ordinary course of business from suppliers. Accounts payable are classified as current
liabilities if payment is due within one year or less. If not, they are presented as non-current
liabilities. Trade payables are recognised initially at transaction price and subsequently
measured at amortised cost uslng the effective interest method.
(iii) Offsetting
Financial assets and liabilities are offset, and the net amounts presented in the financial
statements when there is a legally enforceable right to set off the recognised amounts and
there is an intention to settle on a net basis or to realise the asset and settle the liability
slmultaneously.
2.14 Critlcal Accountlng Judgements and Estlmation Uncertalnty
Estimates and judgements 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,
Critical Judgements In applying the entlty s accountlng policies
There are no critical judgements in applying the charity's accountlng policies.
Critical accounting estimates and assumptions
There are no actual accounting estimates and assumptlons.
19

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
3. INCOME AND ENDOWMENTS
Unrestricted Restrlcted Total Funds
Funds
Funds
2025
2025
Total Funds
2025
2024
Charbtable Activities
Rental Income
ABC Council
DFC Grant Income
Other Income
Other grant income
Hire of facilities
111,989
111,989
8,787
16,227
9,422
41,765
16,255
110,518
30,000
8,787
16,227
9,422
12,258
78,194
29,447
41,765
16,255
Total Income from
Charltable Activitles
137,666
66,779
204,445
260,417
Analysis by Fund
Unrestricted Funds
Restricted Funds
137,666
66,779
204 445
152,223
108,194
260 417
20

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
4. EXPENDITURE CHARITABLE ACTIVITIES
Total
2025
Toal
2024
Charitable activities
Wages & Salaries
Employer NIC
Staff pension contributions
Rates & Water
Light & Heat
Insurance
105,002
2,902
14,737
1,547
15,709
9,054
17,727
2,404
2,133
2,832
332
14,819
6,639
1,619
8,302
205
125,906
5,760
4,525
1,247
18,235
7,292
52,477
25,836
1,371
3,209
212
1,638
5,354
2,093
11,155
523
43,375
4,637
383
16,651
331,879
Repalrs & Maintenance
Workshop Costs
Cleaning
Telephone, stationary & postage
Travel & Subsistence
Project Costs
Sundry Expenses
Catering
Marketlng & Promotions
Materials
Depreclaion of property
Depreciation of fixtures & Fittings
Bank Interest & Charges
Share of Governance Costs
43,375
3,737
1,055
38,368
292,498
Analysis by Fund
Unrestricted Funds
Restricted Funds
243,489
49,009
292,498
224,594
107,285
331,879
4.1 Analysis of support costs
Support Governance
2025
2025
Total
Total
2025
2024
Independent examination fees
Professional Fees
3,317
35,051
38,368
3,317
35,051
38,368
2,094
14,557
16,651
21

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
5. NET INCOME/(EXPENDITURE) FOR THE YEAR
Net income/(expenditure Is stated after charging/(creditlng):
2025
2024
Depreciation of property, plant and equipment
47,112
48,012
6. INDEPENDENT EXAMINER'S REMUNERATION
The Independent Examlner's remuneratlon amounts to a fee of £2,000 (2024., £2,094)
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company durlng the year 6
(2024: 6).
The total staff costs and employee benefit's was as follows:
2025
2024
Wages, salarles and pensions (including social security)
122,641
136,191
No employee of the chartiable company recelved total employee benefits of more than
£60,000.
The total employee beneflts of the key management personnel was £40,357 (2024
£44,349
22

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
8. PROPERTY, PLANT AND EQUIPMENT
Leasehold
Property
Plant &
Machinery
Fixtures &
Fittings
Total
Cost
At 31 March 2024
Additions
At 31 March 2025
2,168,734
214,916
76,309
2,459,959
2 168 734
214 916
2 459 959
Depreciation
At 31 March 2024
Charge for the year
At 31 March 2025
1,002,812
197,197
801
197 998
64,450
1,264,459
1 046 187
1 311 571
Net Book Value
At 31 March 2025
1 122 547
1 148 388
At 31 March 2024
1 165 922
1 195 500
9. RECEIVABLES
2025
2024
Trade Debtors
Prepayments & Other Debtors
2,889
8,181
3,094
37,968
11,070
41,062
10. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Bank Loan
Trade Creditors
Accruals & Deferred income
Taxation & Social Security costs
10,478
1,791
9,951
5,998
28,218
10,000
20,183
5,963
36,146
11. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2025
2024
Bank loan
1,502
1,502
12,728
12,728
23

Portadown 2000
(Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
12. RECONCILIATION OF MOVEMENT IN FUNDS
Unrestricted Restricted
Funds
Funds
2025
2025
Total
Funds
2025
At 1st April 2023 (as restated)
Movement during Financial Year
At 31 March 2024 (as restated)
Movement during Financial Year
At 31 March 2025
1,553,802
1,553,802
909
1,481,431
909
1,482,340
1 387 469
1 406 148
13. Related Partles
During the year the charlty entered into transactlons with JPL Electrlcal. JPL Electrical is
owned by the son of the company secretary. There were no outstanding balances at the
year end.
Services Provided
2025
2024
other Related Parties
10,000
22,175
10,000
22,175
14. Prlor period adjustment
In a prevlous year, income received by the charity was classified as restricted in error.
Opening restricted funds have been reduced by £ 199,763 to correct the error.
24