**Charity registration number NIC 107955**
**Company registration number NI656920 (Northern Ireland)**
## **PORTADOWN HERITAGE TOURS**
**(A COMPANY LIMITED BY GUARANTEE)**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr GW Laverty Mr W McClean Mr WD Partridge Mrs SE Branyan
## **Secretary**
**Secretary** Mr M Whitehead **Charity number** NIC 107955 **Company number** NI656920 **Registered office** 6a Carleton Street Portadown Craigavon Co Armagh BT62 3EN
## **Independent examiner**
GMcG PORTADOWN Chartered Accountants 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB
**Bankers**
Barclays Leicester LE87 2BB
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3 - 4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 14|
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
The trustees present their annual report and financial statements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by 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)" (effective 1 January 2019).
## **Objectives and activities**
The objectives of the charitable company are set out in the Memorandum of Association.
The main purpose is to promote, further or support any purpose for the benefit of the community in the Portadown and surrounding area, and in particular:
- To advance the education of the public concerning Orange history, culture and traditions, the military traditions and the heritage and industrial legacy of Portadown and the surrounding area with a view to securing appreciation and understanding of said heritage and traditions by means of outreach through exhibits, digital outputs research, study, historical talks and community outreach or other such means charitable in law for the benefit of the youth and general public.
- To foster a sense of community by:
- (a) facilitating organisations, interest groups, and individuals to participate in discovering and preserving knowledge, encouraging and celebrating a sense of place, civic pride and ownership and appreciation of all aspects of Orange, local military and the industrial heritage of Portadown and surrounding area; (b) supporting strong inter-community relationships; and
- (c) fostering social, environmental and economic regeneration in the local area and along the heritage tour areas in particular.
The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake.
## **Achievements and performance**
During the year to 30 September 2024 the charitable company received funding, donations and undertook walking tours and held events to promote the rich local history of the area.
Family fun days, talks, craft fairs, big breakfasts, military fairs and the Ulster Scots Summer School have once again proved to be popular.
Students from the local grammar school along with students from the Republic of Ireland undertook an educational tour of local sites with rich Anglo-Irish history.
Overseas visitors included a group of 20 Canadian students, as well as others tracing the birth places of family
members.
There has been continued outreach and involvement with community groups through exhibitions, history talks
and walking tours.
Volunteers continue to research local residents who fought in the World Wars, the contributions of those on the home front and the effects of these periods on the life of the town.
We said goodbye to our staff members in October 2024 and our work is now carried out on a wholly voluntary basis with input from young people, working aged folk and retirees.
- 1 -
PORTADOWN HERITAGE TOURS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Financial review
The charitable company's financial results are set out in detail on pages 5-14.
There is an overall deficit of funds for the year of £2,102 (2023- £8,358 surplus). Accumulated funds consist of a
deficit of unrestricted funds of £10,111 and surplus of restncted funds of £2,106. Funding in the year has
decreased significantly. however the trustees continue to source income by offering events to the local
community as well as making applications to various funds expected to be available to them.
structure. governance and management
Portadown Heritage Tours is a charitable company limited by guarantee. The charitable company is govemed by
its Memorandum and Articles ofAssociation dated 7 November 2018.
The charitable company was registered with the Charity Commission for Northern Ireland on 17 May 2021.
The trustees, who are also the directors for the purpose of company law, and who setved during the year and up
to the date of signature of the financial statements were..
Mr GW Laverty
Mr W Mcclean
Mr WD Partridge
Mr P Thompson
Mrs SE Branyan
(Resigned 11 September 2024)
Under the requirement of the Memorandum and Articles of Association, directors are appointed and retire by
rotation every three years at the annual general meeting.
None of the trustees have any beneficial interest in the charitable company. In the event of the charitable
company being wound up, members are required to contribute an amount not exceeding £10.
Organisation
The day to day running of the charitable company is overseen by the trustees. The charitable company
employed two members of staff for part of the year to assist wlh administrative duties.
Reserves
The trustees aim to maintain a level of reserves, sufficient to service those costs which are incLrred irrespective
of the charitable activities carried OLrt in a period. The trustees consider a level of £5,000 to be appropriate.
In preparing this report, the trustees havè taken advantage of the small companies exemptions provided by
section 415A of the Companies Act 2006.
Registered Office".
6a Carieton Street
Portadown
Craigavon
CoAmiagh
BT62 3EN
Charity Registration No= NIC107955
Company Registration No= N1656920
The trustees, r
port was approved by the Board of Trustees.
Mr WD Partridge
Trustee
CHARTER8D ACCQUNTANTS
PORTADOWN HERITAGE TOURS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PORTADOWN HERITAGE TOURS
I report to the trustees on my examination of the financial statements of Portadown Heritage Tours (the
charitable company) for the year ended 30 September 2024.
Responsibilities of trustees and examlner
As the trustees of the charitable company (and also its directors for the purposes of company law) you are
responsible for the preparation of the financial statements in accordance with the requirements of the
Companies Act 2006 (the 2006 Act).
It is my responsibility to=
examine the financial statements under section 65 of the Charities Act.,
follow the procedures laid down in the general Directions given by the Charity Commission for
Northem Ireland under section 65(9)(b) of theAct- and
state whether particular matters have come to my attention.
Basis of independent examiner's report
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charitable company as required by section 386 of the
2006 Act" or
the financial statements do not accord with those records- or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a true and fair view which is not a matter considered as
part of an independent examination., or
the financial ststements have not been prepared in accordance with the methods and principles of the
statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102).
17 Mandeville Street
Alfred House
19.41fred Street
BELF wf2 8EQ
DX3910 liR Belfast 50
Centur). House
40 Creseent Business Park
LISBLSRN
r28 2GN
Craigavon
BT62 3PB
Tel* +44 (0)28 3833 2801
Fax: +44 (0)28 3835 0293
Tel.. +44 {0)28 903L 1113
Fax: +M {0)28 9031 07T7
Tel: +44 (0)28 9260 7355
Fax: +44 (0)28 9260 1656
PORTADOWN HERITAGE TOURS
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
TO THE TRUSTEES OF PORTADOWN HERITAGE TOURS
Independant examlner's statement
I have no concerns and have come across no other matters in connection wth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial statements to
be reached.
illian Johnston ACA
GMCG PORTADOWN
Chartered Accountant
17 Mandeville Street
Portadown
Craigavon
Co Armagh
BT62 3PB
Dated: ..l.i....lud.E...aoi
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
9,580
-
Charitable activities
**3**
840
3,340
**Total income**
10,420
3,340
**Expenditure on:**
Charitable activities
**4**
9,849
6,013
**Net**
**incoming/(outgoing)**
**resources before**
**transfers**
571
(2,673)
Transfers between
funds
**8**
4,111
(4,111)
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
4,682
(6,784)
Fund balances at 1
October 2023
(14,793)
8,890
**Fund balances at 30**
**September 2024**
(10,111)
2,106|**Total**
Unrestricted
Restricted
funds
funds
**2024**
2023
2023
**£**
£
£
9,580
11,734
-
4,180
10,421
115,405
13,760
22,155
115,405
15,862
36,429
92,773
(2,102)
(14,274)
22,632
-
17,753
(17,753)
(2,102)
3,479
4,879
(5,903)
(18,272)
4,011
(8,005)
(14,793)
8,890|Total
2023
£
11,734
125,826
137,560
129,202
8,358
-
8,358
(14,261)
(5,903)|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
PORTADOWN HERITAGE TOURS
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
2,191
3,016
10
1,389
603
670
5,069
1,992
5,739
Creditors: amounts falling due within
one year
11
(12,188)
(14,658)
Net current liabilities
{10.1961
(8,919)
Totsl assets less curnt liabilities
(8,0051
(5,903)
Income funds
Restricted funds
Unrestricted funds
2,106
(10,111)
8,890
(14,793)
(8,005)
(5,903)
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the
CompaniesAct 2006, for the year ended 30 September 2024.
The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records
which comply with section 386 of the Act and for preparing financial statemenls 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 resources and
application of resources, including its income and expenditure, for the financial year in accordance with the
requirements of sections 394 and 395 and which otheise comply with the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable company.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial
statements were approved by the trustees on l.i.. 102
Mr WD Partridg
Truslee
Company Registration No. N1656920
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1 Accounting policies**
## **Charity information**
Portadown Heritage Tours is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 6a Carleton Street, Portadown, Craigavon, Co Armagh, BT62 3EN.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by 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) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities by applying section 1A of FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The financial statements have been prepared on a going concern basis notwithstanding a deficit on net funds of £8,005. As with other organisations operating in the third sector in Northern Ireland, Portadown Heritage Tours faces difficulty in sourcing funding. However, the trustees plan to continue to source income from offering more events to the local community as well as making applications to various funds expected to be available to the charitable company. For this reason the trustees believe they have a reasonable expectation that the charitable company will have adequate resources to continue in operational existence, albeit on a reduced scale, for a period of not less than 12 months from the date of approval of the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.
## **1.4 Incoming resources**
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1 Accounting policies (Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
## (i) Charitable activities
This comprises all the resources applied by the charitable company in undertaking its work to meet its charitable activities.
## (ii) Goverance costs
Goveranance costs include the costs of governance arrangements which relate to the general running of the charitable company.
Where costs cannot be directly attibuted to particular headings, they have been allocated to activities on a basis consistent with use of the resources.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initally measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Computer & other equipment 20% reducing balance Computer equipment 3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 8 -
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **1 Accounting policies (Continued)**
## **1.8 Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.10 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 9 -
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**2**|**Donations and legacies**|||
|---|---|---|---|
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2024**|2023|
|||**£**|£|
||Funding and donations|9,580|11,734|
|**3**|**Charitable activities**|||
|||**2024**|2023|
|||**£**|£|
||Tour income|665|2,233|
||Badge and booklet sales|-|57|
||Events income|175|4,365|
||Performance related grants|3,340|115,905|
||Other income|-|3,266|
|||4,180|125,826|
||Analysis by fund|||
||Unrestricted funds|840|10,421|
||Restricted funds|3,340|115,405|
|||4,180|125,826|
- 10 -
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **4 Charitable activities**
|Staff costs
Staff and volunteer expenses
Rent
Insurance
Postage
Event costs and refreshments
Advertising and promotion
Donations
Mileage
Professional fees and research
Training
Equipment and materials
Room hire
Community grants
Share of support costs (see note 5)
Share of governance costs (see note 5)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2024**
**£**
1,776
-
-
219
-
3,253
1,000
-
-
1,070
-
-
750
-
8,068
5,286
2,508
15,862
9,849
6,013
15,862|2023
£
34,046
1,059
506
199
8
9,869
1,702
311
18
13,435
5,703
4,070
955
33,655|
|---|---|---|
|||105,536
19,682
3,984|
|||129,202|
|||36,429
92,773|
|||129,202|
- 11 -
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **5 Support costs allocated to activities**
|Staff costs
Office costs
General expenses
Payroll and training support
Depreciation
Rent
Insurance
Governance costs
**Analysed between:**
Charitable activities|**2024**
**£**
761
2,146
448
960
825
-
146
2,508
7,794
7,794|**2023**
**£**
14,591
1,532
218
195
1,440
1,519
132
4,039|
|---|---|---|
|||23,666|
|||23,666|
## **6 Trustees**
None of the trustees received any remuneration from the charitable company for services acting as a trustee during the period.
During the previous year a trustee provided a loan to the charitable company. The amount owed to the trustee at the year end was £1,000 (2023 - £1,000). No interest was charged.
## **7 Employees**
The average monthly number of employees during the year was:
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
||1|2|
|**Employment costs**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|2,108|43,394|
|Social security costs|88|4,172|
|Other pension costs|341|1,071|
||2,537|48,637|
- 12 -
**PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **8 Transfers**
An amount of £4,111 (2023 - £17,753) was transferred from restricted funds to unrestricted funds to reflect the release of funds where the restriction no longer applies.
## **9 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Computer &**|
||**other**|
||**equipment**|
||**£**|
|**Cost**||
|At 1 October 2023|6,796|
|At 30 September 2024|6,796|
|**Depreciation and impairment**||
|At 1 October 2023|3,780|
|Depreciation charged in the year|825|
|At 30 September 2024|4,605|
|**Carrying amount**||
|At 30 September 2024|2,191|
|At 30 September 2023|3,016|
## **10 Debtors**
|**10**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Grants due
**11**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
1,389
**2024**
**£**
4,673
1,000
6,515
12,188|**2023**
**£**
670|
|||2023
£
7,051
1,000
6,607|
|||14,658|
- 13 -
## **PORTADOWN HERITAGE TOURS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**12**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
Unrestricted
funds
Restricted
funds
**2024**
**2024**
**2024**
2023
2023
**£**
**£**
**£**
£
£
Fund balances at 30
September 2024 are
represented by:
Tangible assets
85
2,106
2,191
106
2,910
Current assets/(liabilities)
(10,196)
-
(10,196)
(14,899)
5,980
(10,111)
2,106
(8,005)
(14,793)
8,890|Total
2023
£
3,016
(8,919)
(5,903)|
|---|---|
## **13 Related party transactions**
Ms L Partridge (daughter of trustee, Mr WD Partridge), an employee of Portadown Heritage Tours for part of the year, received remuneration of £595 (2023 - £21,590).
- 14 -