**Company registration number: NI640450 Charity Commission for NI No: 106556**
**Portadown Cares Limited Company limited by guarantee**
**Unaudited financial statements**
**Year ended 31[st] May 2024**
## **Portadown Cares Limited Company limited by guarantee**
## **Contents**
||**Page**|
|---|---|
|Directors and other information|**1**|
|Report of the Trustees|**2 - 5**|
|Independent Examiners report|**6**|
|Statement of Financial Activity|**7**|
|Statement of Financial Position|**8**|
|Notes to the financial statements|**9 - 19**|
**Portadown Cares Limited Company limited by guarantee**
|**Directors**|Mr Tracie Jenkinson|
|---|---|
||Mr Scott McCann|
||Mrs Patrice Tifney|
||Miss Kirstie Toman|
||Mr Johnathan Surgeonor|
||Ms Kim Bailie|
||Mrs Catherine McCormick|
|**Company number**|NI640450|
|**Registered office**|Portadown Cares Ltd High Street,|
||Portadown, Craigavon,|
||Northern Ireland, BT62 1HX|
|**Business address**|High Street Mall|
||Portadown|
||BT62 1HX|
|**Accountants**|JSR|
||44 Blackisland Road|
||Annaghmore|
||Portadown|
||Co Armagh|
||BT62 1NE|
|**Bankers**|Ulster Bank|
||20 High Street|
||Portadown|
||BT62 1HU|
Page 1
## **Portadown Cares Limited Company limited by guarantee**
The Trustees are pleased to present their annual directors’ report together with the unaudited financial statements of the charity for the year ending 31[st] May 2024. This report has also been prepared to meet with the requirements for a directors report and accounts for the purposes of the Companies Act.
The Directors/ Trustees who served during the year were as follows:
Tracie Jenkinson Scott McCann Patrice Tifney Kim Bailie Kirstie Toman Catherine McCormick Johnathan Surgeonor
## **Risk Management**
The trustees actively review any major risks, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the incoming year. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the most significant risks.
## **Overview of Portadown Cares Limited**
Portadown Cares was established to promote the benefit of the inhabitants of the Portadown area and its environs (hereinafter called the 'area of benefit') by relieving poverty, sickness, assisting the aged, and advancing education, by using the proceeds from our charity shop for the above purposes, in particular: (a) providing financial or other assistance to those in need; (b) organising and promoting educational training; (c) organising and promoting courses in life skills; (d) supporting local and charitable causes dealing with the elderly, youth and other marginalised groups; and (e) organising events to promote social integration.
The Trustees have had regard to the Northern Ireland Charity Commission's Public benefit requirements, as demonstrated though the following overview of the years activities:
This report provides an overview of the work of Portadown Cares Limited from the 1[st] June 2023 to 31[st] May 2024. This is the seventh annual report for Portadown Cares Limited.
## **Activities of the Charity**
Portadown Cares has run a number of activities and projects during the past 12 months. The projects were designed to assist the aged, increase education, promote social integration, decrease social isolation and improve life skills and general personal confidence. We also provide necessary items such as items of furniture, bedding, clothing, fuel or food to those within the area of benefit who cannot otherwise afford them. Portadown Cares also supports local groups and clubs within the area of benefit to organise events etc. which encourage participation from within the local community, and assists them to restore confidence, friendship and support within that community.
Our annual Christmas Hamper Appeal saw 258 large basic food hampers delivered to local homes requiring assistance in the run up to Christmas, and through our association with the Cool FM “Mission Christmas” Appeal saw us being able to deliver 428 brand new toys to local children who otherwise may not have had any presents to open on Christmas morning. Portadown Cares volunteers also liaised with a local restaurant to deliver 68 hot Christmas dinners to those, for whatever reason, did not have the facilities to cook their own.
The notes on pages 9 to 19 form part of these financial statements.
Page 2
## **Portadown Cares Limited Company limited by guarantee**
Christmas is a time for sharing and we shared our Santa’s Throne with both Ceara Special School and Oasis Youth Club, the latter we also donated foodstuffs for a Christmas party.
Portadown Cares also established and administered a Santa’s Grotto in our High Street Mall shop. This was a free ticketed event and was a resounding success, on the last day we introduced “Santa Paws” and invited those with pets to come along with their pets and enjoy the festive season with their friends, neighbours and pets. This was a pilot event and one that was so successful that it is set to become an annual event.
We continued to liaise with local groups, providing assistance where practicable and further cementing links, friendships and partnerships throughout our town. We have continued our association with sister charitable organisations; Moira Hygiene Bank provides us with hygiene products that we distribute to those who request it, this includes new mothers, the elderly, disables and our homeless population. Our association with Craigavon Area Food Bank continued to beneficial to our fight against food poverty, we remain grateful and supportive to the Food Bank and will endeavour to promote and support this lifesaving and necessary organisation. We continue to provide school uniforms freely on a ‘leave one, take one’ basis.
We also provide necessary items such as items of furniture, bedding, clothing, fuel or food to those within the area of benefit who cannot otherwise afford them.
Portadown Cares also supports local groups and clubs within the area of benefit to organise events etc. which encourage participation from within the local community, and assists them to restore confidence, friendship and support within that community.
This year we expanded the usage of our Hub in Market Lane in Portadown with the provision of disabled toilet facilities, this has been a resounding success and has increased the usage of the facility.
Our ‘Book Thieves’ reading group now boasts 14 active readers and continues to be a literary and community success. Meeting once a month and has forged friendships that transcend the world of books.
Our highly successful ‘keep the date’ event of Portadown Cars does Strictly Come Dancing was once again the highlight of the year 2024, we provided a platform for twelve local couples to fundraise for a charity, club, association or cause close to their heart. This immensely successful event achieved the highest fundraising total to date, over £71k was raised over the two night event. This is testament to the dedication and phenomenal support this annual event generates, indeed Strictly 2025 has just been staged and this year’s charitable total exceeded 51k. Over the nine years of producing and hosting the competition Portadown Cares has raised in excess of £290k for over 60 worthy and well deserving charities.
## **Achievements, Performance & Public Benefit**
Portadown Cares ran a number and variety of projects and events throughout the year based on need and topical issues within the community. Events have included furniture upcycling courses, dance classes, pottery classes, first aid training, alcohol and drug awareness courses, health and wellbeing classes, computer introductory classes for the elderly. We build our courses around the local community and their needs at each specific time, and plan these courses and events in conjunction and consultation with other local community and residents groups.
The notes on pages 9 to 19 form part of these financial statements.
Page 3
## **Portadown Cares Limited Company limited by guarantee**
The activities outlined above demonstrate how Portadown Cares continues to implement its charitable purposes, and meets the Public Benefit requirement.
Benefit to members of the public include:
- Contributing to the personal development of participants
- Contributing to the education and empowerment of participants
- Enhancing participation within the local community
- Encouragement to join in with other local groups
We expect the workings of our activities to develop stronger, safer and more united communities, and the risk of potential harm has been mitigated by observance of good practice.
Portadown Cares has given careful consideration to CCNI guidance on public benefit (PBR1) to ensure that the activities entered into during the year have helped to achieve Portadown Cares purpose as well as providing public benefit.
## **Financial Overview:**
The principal source of income for Portadown Cares is the sale of donated items of furniture, clothing and bric-a-brac from our shop in the High Street Mall, Portadown. The principal expenses have been the purchase of equipment and event costs.
Total Incoming Resources £92,365 (2023; £93,169) Total Resources Expended £101,047 (2023; £90,159) (Deficit)/ Surplus for year £(8,682) (2023; £3,010)
No funds held by the charity were in deficit either during the year or at the year end.
## **Structure, Governance & Management**
**Going Concern -** The Trustees have reviewed its planned expenditure for the year ahead and are satisfied that there are adequate funds in place to ensure that the Charity can continue its activities and the financial statements for the year ending 31[st] May 2024 can be signed off as a going concern.
**Governing Document -** The charity is regulated by the Charities Act 2008 and the Constitution and Rules of the charity adopted on 22[nd] October 2014.
**Recruitment & Appointment of Trustees -** Membership of Portadown Cares shall be open to anyone aged 18 or over in the area of benefit who supports the objects of Portadown Cares and whose applications for membership are accepted by the committee. Members shall be called full members and are entitled to vote at meetings, and are eligible to be nominated for election to the Committee.
Anyone who in the opinion of the Committee have special knowledge or experience to offer shall be called Associate Members but do not have the right to vote at meetings. The Committee elected at an Annual General Meeting shall have the power to co-opt further members to fill any casual vacancy arising on the Committee or to enlist Committee members with a particular skill set.
**Organisational Structure -** The management committee is the governing body of Portadown Cares, and consists of all the appointed trustees of the charity. Under the rules of the charity the trustees
The notes on pages 9 to 19 form part of these financial statements.
Page 4
## **Portadown Cares Limited Company limited by guarantee**
must number at least 5. At the Annual General Meeting held on Wednesday 23[rd] May 2024, all trustees stood for election and were elected unopposed.
8 Committee meetings were held during the year as well as almost daily contact on a private social media page where committee matters can be discussed in privacy by the trustees. At each meeting financial matters are discussed, reviewed and planned, and budget forecasts are made on a conservative estimate of potential income and costs to ensure financial viability. The accounts are presented annually to the membership for discussion and approval following independent inspection.
## **Registration Details:**
Registered Northern Ireland Charity No: NIC106556 Registered Limited Company No: NI640450
Company Law requires the Trustees/ Directors to prepare the financial statements for each financial year. The Trustees/ Directors have taken the decision to prepare the financial statements in accordance with UK GAAP (United Kingdom Generally Accept Accounting Practice. According to Company Law, these accounts must not be approved by the Trustees/ Directors unless they are satisfied that these accounts give a true and fair view of the state of affairs of the company and its income and expenditure.
In preparing these financial statements the trustees are required to: Select suitable accounting policies and apply them consistently Observe the methods and principles in the Charities SORP
Make judgements and accounting estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards have been followed, subject to any material departures
- Prepare the financial statements on the going concern basis unless it is inappropriate to resume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enabled them to ensure that the financial statements company 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 preventions and detection of fraud and other irregularities.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the Board of Trustees on 22[nd] May 2025, and signed on its behalf by:
Mrs Tracie Jenkinson Mrs Patrice Tifney Director Director
The notes on pages 9 to 19 form part of these financial statements.
Page 5
## **Portadown Cares Limited Company limited by guarantee**
## **Independent examiner’s report to the charity trustees of Portadown Cares Limited charitable company.**
I report on the accounts of the company for the year ended 31[st] May 2024, which are set out on pages 7 to 16.
## **Respective responsibilities of charity trustees and examiner**
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act
- follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. 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
CCNI ARR07 – supporting document 7 August 2016 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner’s statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
## Jonathan Ross FCA
44 Blackisland Road, Annaghmore Portadown BT62 1NE
Date: 22[nd] May 2025
The notes on pages 9 to 19 form part of these financial statements.
Page 6
## **Portadown Cares Limited Company limited by guarantee Statement of Financial Activities**
## **(to include Income and Expenditure account) Year ended 31 May 2024**
## **Statement of Financial Activities**
|**For the year ended 31 May 2024**
**Incoming Resources**
**Notes**
Incoming Resources from generated funds
Voluntary income
**2**
Activities for generating funds
**3**
Investment income - rent received
**4**
Incoming resources from charitable activities
Other incoming resources
**Total Incoming Resources**
**Resources Expended**
Cost of generating funds
**5**
Costs of generating voluntary income
Investment management costs
**7**
Charitable activities
**6**
Running Costs/ Administrative costs
**8**
Governance Costs
**9**
Other Resources Expended
**10**
**Total Resources Expended**
**Net incoming/ outgoing resoruces**
**before transfers**
Gross transfers between funds
**Net incoming resources before other**
**recognised gains and losses**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**
**16, 18**|Unrestricted
Funds
£
1,200
59,990
9,577
-
**70,767**
26,861
-
3,964
971
42,205
2,657
4,500
**81,158**
(10,391)
-
(10,391 )
**(10,391 )**
**87,138**
**76,747**|Restricted
Funds
£
9,317
-
-
12,281
**21,598**
-
-
-
3,758
16,131
-
-
**19,889**
1,709
-
1,709
**1,709**
**-**
**1,709**|Total
Funds
Prior year
£
£
10,517
18,443
59,990
58,367
9,577
13,817
12,281
2,542
**92,365**
**93,169**
26,861
26,199
-
-
3,964
8,261
4,729
16,127
58,336
35,574
2,657
923
4,500
3,075
**101,047**
**90,159**
(8,682)
3,010
-
-
(8,682 )
3,010
**(8,682 )**
**3,010**
**87,138**
**84,128**
**78,456**
**87,138**|
|---|---|---|---|
All income was derived from continuing activities, therefore no statement of total recognised gains and losses is required.
The notes on pages 9 to 19 form part of these financial statements.
Page 7
## **Portadown Cares Limited Company limited by guarantee Statement of Financial Position**
## **31[st] May 2024**
|**Notes:**
**Fixed Assets**
Tangible fixed assets
**11**
Investments
**12**
**Current Assets**
**13**
**Creditors: amounts falling due within 1 year**
**14**
**Net Current Assets**
**Total assets less current liabilities**
**Creditors: amounts falling due**
**after more than 1 year**
**15**
**Net assets**
**Represented by:**
Unrestricted funds
**16, 18**
Restricted funds|**2024**
£
26,697
105,398
132,095
6,820
11,250
(4,430)
127,665
49,209
**78,456**
76,199
2,257
**78,456**|**2023**
£
13,603
100,918|
|---|---|---|
|||114,521
20,457
9,457|
|||11,000|
|||125,521
38,383|
|||**87,138**|
|||86,590
548|
|||**87,138**|
For the year ending 31[st] May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors responsibilities:
• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. These financial statements were approved by the board of directors and authorised for issue on 22[nd] May 2025, and are signed on behalf of the board by:
|Mrs Tracie Jenkinson|Mrs Patrice Tifney|
|---|---|
|Director|Director|
|Company registration number: NI615573||
The notes on pages 9 to 19 form part of these financial statements. Page 8
## **Portadown Cares Limited**
## **Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31[st] May 2024**
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of preparation**
The financial statements have been prepared in accordance with the Accounting and Reporting 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 (FRS 102 1A) (effective January 2015) – Charities SORP (FRS 102)).
## **Going Concern**
The Trustees are of the view that the continued operation of the charity is ensured and on the basis of their regular review of income and expenditure, and their routine cash-flows. On this basis they have determined the charity to be a going concern.
## **Fund Accounting**
General Funds are Unrestricted Funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated Funds comprise Unrestricted Funds that have been set aside by the Trustees for a particular purpose.
Restricted Funds are funds that are to be used in accordance with specific restrictions as imposed by the donor/s, or which have been raised by the charity for a particular purpose.
## **Income Recognition Policy**
Items of income are recognised and included in the accounts when all of the following criteria are met **:**
- The charity is entitled to the funds
- Any performance conditions attached to the item of income has been met or are fully within the control of the charity
- There is sufficient certainty that the receipt of the income is considered probable; and
- The amount can be measured reliably
## **Donated Services and facilities**
In accordance with the Charities SORP (FRS 102), the general volunteer time of supporters is not recognised.
## **Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes the purchase of foodstuff for delivery to those in need
- Other Expenditure represents those items not falling into any other heading
The charity is not registered for VAT; all VAT incurred on purchases is therefore irrecoverable. The cost inclusive of VAT is therefore charged to the income and expenditure account against the activity for which the expenditure was incurred.
## **Tangible assets**
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Page 9
**Portadown Cares Limited Company limited by guarantee**
**Notes to the financial statements Year ended 31[st] May 2024**
## **Continued…..**
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
## **Impairment**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cashgenerating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. **Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performancerelated conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the
Page 10
**Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements Year ended 31[st] May 2024**
## **Continued…..**
recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
|**2. Voluntary Income**
Donations rec'd
Halifax Foundation Grant
Donations received - Hampers
Donations received - Coats for
Kids
Donations received - Back to
School
Grant received from ABC council|Unrestricted
£
1,200
-
-
-
-
-|Restricted
£
-
-
4,539
-
928
3,850|Total
Funds
£
1,200
-
4,539
-
928
3,850|Prior
year
£
-
-
6,543
2,100
-
9,800|
|---|---|---|---|---|
||1,200|9,317|10,517|18,443|
Page 11
**Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements Year ended 31[st] May 2024**
## **Continued…..**
|**3. Activities for generating funds**
Thrift shop sales
Fundraising events - ticket
sales
Other Income
**4. Investment Income**
Rental income
**5. Cost of generating funds**
Thrift shop - purchases for
resale
Fundraising events - materials/
expenses
**6. Cost of charitable activities**
Donations - local charities
Donations - purchase of
materials for hampers
Community event - Halifax
Foundation
Coats for Kids
Back to School
Defibrillator for Mall - Funded
by ABC
Pensioners Winter Fuel
Support|Unrestricted
£
39,759
20,231
-
59,990
Unrestricted
£
9,577
9,577||Restricted
£
-
-
-
-
Restricted
£
-
-||Total
Funds
£
39,759
20,231
-
59,990
Total
Funds
£
9,577
9,577||Prior
year
£
38,295
19,921
151
58,367
Prior
year
£
13,817
13,817
Prior
year
£
8,345
17,854|
|---|---|---|---|---|---|---|---|
|||||||||
|||||||||
|||||||||
||Unrestricted
£
9,333
17,528
26,861
Unrestricted
£
430
-
-
-
541
-
-
971||Restricted
£
-
-
-
Restricted
£
-
2,830
-
-
928
-
-
3,758|
|Total
Funds
£
9,333
17,528
26,861
Total
Funds
£
430
2,830
-
-
1,469
-
-
4,729|||
||||||||26,199|
||||||||Prior
year
£
1,056
5,332
-
2,279
-
2,460
5,000
16,127|
|||||||||
Page 12
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements**
## **Year ended 31[st] May 2024**
## **Continued…..**
|**7. Investment Costs**
Rates - rental property
Light & heat - Rental property
R&M - rental property|Unrestricted
£
1,249
506
2,209
3,964|Restricted
£
-
-
-
-|Total
Funds
£
1,249
506
2,209
3,964|Prior
year
£
1,339
2,913
4,009|
|---|---|---|---|---|
|||||8,261|
## **8. Running costs/ Administrative expenses**
|Wages
Staff Training
Volunteer expenses
Insurance
Computer bureau costs
Light & heat - Thrift Shop
R&M - thrift shop
Printing, postage & stationery
Advertising
Telephone
Motor & travel
Bank Charges
Sundry Expenses
Depreciation|Unrestricted
£
22,217
31
510
442
384
2,176
1,534
208
74
5,491
4,097
642
205
4,194
42,205|Restricted
£
12,281
-
-
650
-
3,200
-
-
-
-
-
-
-
-
16,131|Total
Funds
£
34,498
31
510
1,092
384
5,376
1,534
208
74
5,491
4,097
642
205
4,194
58,336|Prior
year
£
10,224
234
3,430
1,600
523
5,735
754
1,300
781
3,654
3,779
1,275
388
1,897
35,574|
|---|---|---|---|---|
Page 13
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements Year ended 31[st] May 2024**
## **Continued…..**
|**9. Governance Costs**
Accountancy
Legal/ Prof. - thrift shop
Legal/ Prof. - rental property
**10. Other resources expended**
Bank Interest paid
Hire Purchase interest paid|Unrestricted
£
2,525
132
-
2,657
Unrestricted
£
4,315
185
4,500|Restricted
£
-
-
-
-
Restricted
£
-
-
-|Total
Funds
£
2,525
132
-
2,657
Total
Funds
£
4,315
185
4,500|Prior
year
£
923
-
-
923
Prior
year
£
3,228
-
153|
|---|---|---|---|---|
|||||3,075|
Page 14
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements**
## **Year ended 31[st] May 2024**
## **Continued…..**
|**11. Tangible Fixed Assets**
**Cost**
At 1 June 2023
Additions
Disposals
At 31 May 2024
**Depreciation**
At 1 June 2023
Charge
Disposals
At 31 May 2024
**Net Book Value**
**At 31 May 2024**
At 31 May 2023|Buildings
£
-
-
-
-
-
-
**-**
-|Plant &
Machinery
£
15,027
16,195
31,222
9,120
3,315
12,435
**18,787**
5,907|Furniture
&
Equipment
£
11,741
1,093
12,834
4,045
879
4,924
**7,910**
7,696|Total
£
26,768
17,288
-|
|---|---|---|---|---|
|||||44,056|
|||||13,165
4,194
-|
|||||17,359|
|||||**26,697**|
|||||13,603|
Page 15
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements**
**Year ended 31[st] May 2024**
## **Continued…..**
## **12. Investments**
|Investment
Property
**Cost**
£
£
At 1 June 2023
100,918
-
Additions
4,480
-
Disposals
At 31 May 2024
105,398
-
**Depreciation**
At 1 June 2023
-
-
Charge
-
-
At 31 May 2024
-
-
**Net Book Value**
**At 31 May 2024**
**105,398**
**-**
At 31 May 2023
100,918
-
The Investment Property at Market Street Portadown is held at cost price.
**13. Current Assets**
Cash at bank and in hand
Debtors||£
-
-
-
-
-
-
**-**
-
**2024**
**£**
6,820
-
6,820|Total
£
100,918
4,480
-|
|---|---|---|---|
||||105,398|
||||-
-|
||||-|
||||**105,398**|
||||100,918|
||||**2023**
**£**
19,852
605
20,457|
Page 16
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements**
## **Year ended 31[st] May 2024**
## **Continued…..**
|**14. Creditors less than 1 year**
Trade creditors
Accruals
PAYE
Loans & Overdrafts
**15. Creditors more than 1 year**
Bank loans & Overdrafts
Hire Purchase|**2024**
**£**
1,321
2,050
239
7,640
11,250
**2024**
**£**
35,422
13,787
49,209|**2023**
**£**
1,248
1,800
-
6,409|
|---|---|---|
|||9,457|
|||**2023**
**£**
38,383
2,571|
|||40,954|
Page 17
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements Year ended 31[st] May 2024**
## **Continued…..**
## **16. Analysis of Net Assets between Funds**
|2024
Tangible Fixed
Assets
Investment property
Current Assets
Creditors: falling due
within one year
Creditors: amounts
falling due after more
than one year
2023
Tangible Fixed
Assets
Investment property
Current Assets
Creditors: falling due
within one year
Creditors: falling due
after more than 1
year
**17. Trustee & Staff Costs**
Staff wages
Staff Social Security
Average staff numbers||Unrestricted
Restricted
£
£
26,697
-
105,398
-
5,111
1,709
(11,250)
-
(49,209)
-
76,747
1,709
Unrestricted
Restricted
£
£
13,603
-
100,918
-
19,909
548
(9,457)
-
(38,383)
-
86,590
-
Unrestricted
Restricted
£
£
22,217
12,281
-
-
22,217
12,281||Total
Funds
£
26,697
105,398
6,820
(11,250)
(49,209)
78,456
Total
Funds
£
13,603
100,918
20,457
(9,457)
(38,383)
87,138
Total
Funds
£
34,498
-
34,498
2024
3|Prior
year
£
10,224
-|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||Unrestricted
£
22,217
-
22,217||||
||||||10,224|
||||||2023
2|
Page 18
## **Portadown Cares Limited Company limited by guarantee**
## **Notes to the financial statements**
## **Year ended 31[st] May 2024**
## **Continued…..**
There were an average of 3 employees during the year ended 31[st] May 2024 (31[st] May 2023, two employees). No Trustee received any remuneration or any other benefit from his/ her trusteeship with the charity in the year (2023; No Trustee received any remuneration or any other benefit from his/ her trusteeship with the charity in the year).
No Trustee received payment for professional or other services supplied to the charity (2023; £Nil).
## **18. Limited by guarantee**
Portadown Cares Limited is a company limited by guarantee and accordingly does not have any share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10.00 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 19