Portstewart Convention
Statement of Financial Activities
for the Year Ended 31 December 2022
31.12.22
Total
funds
31.12.21
Total
funds
Unrestricted Restricted Endowment
fund
funds
fund
Notes
INCOME AND
EIYDOWMENTS FROM
Donations and legacies
122,545
35,658
475,000
633,203
Investment income
Other income
12,444
2,250
12,444
2,250
Total
137.239
35,658
475,000
647,897
EXPEM)ITURE ON
Raising funds
10,631
10,631
Charitable activities
Direct Costs
50,846
5,545
56,391
Other
176
14
190
Total
61,653
5,559
67,212
NET INCOME
Transfers between funds
75,586
(952)
30,099
952
475,000
580,685
10
Net movement in funds
74,634
31,051
475,000
580.685
RECONCILIATION OF
FUM)S
Total ￿ndS brought forward
TOTAL FUNDS CARRIED
FORWARD
74,634
31,051
475.000
580,685
The notes form part of these financial statements
Page 6

Portstewart Convention
Balance Sheet
31 December 2022
31.12.22
Total
funds
31.12.21
Total
funds
Unrestricted Restricted
fund
funds
Endowment
fund
Notes
FIXED ASSETS
Tangible assets
Investment property
51,030
300,000
175,000
351,030
175,000
51,030
475.000
526,030
CURRENT ASSETS
Debtors
Cash at bank
4,667
18.937
4,667
49,988
31,051
23,604
31,051
54,655
NET CURRENT ASSETS
23,604
31,051
54,655
TOTALASSETS LESS
CURRENT LIABILITIES
74,634
31,051
475,000
580,685
NET ASSETS
74,634
31,051
475,000
580,685
FUNDS
Unrestricted funds
Restricted funds
Endowment funds
io
74,634
31,051
475.000
TOTAL FUNDS
580,685
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps a¢¢ounting recoids that comply with Section5 386 and 387
of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable
company as at the end of each financial year and of its Surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far &$ applicable to the
charitable company.
The notes forni part of these financial statements
Page 7
continued...

Portstewart Convention
Balance Sheet- continued
31 December 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2023
and were signed on its behaIf by:
Mr James Lawson McDonald - Trustee
Rev Joseph Fell - Trustee
The notes forn] part of these financial statements
Page 8

Portstewart Convention
Notes to the Financial Statements
for the Year Ended 31 December 2022
AccouNfING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entlty under FRS 102,
have been prepared in accordance with the Charities SORP (FRS 102) '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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlernent to the
funds, it is probable that the income will be r¢ceived and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expendtture &8 soon as there is a legal or constructive obligation
committing the charity to that expenditure, 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
accounted for on an accruals basis and has been classified under headings that aggregate all cost related
to the category. Where costs cannot be directly attributed to particular headings they have been
allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Freehold propety
Plant and machinery
Fixtures and fjttings
not provided
IOO/o on reducing balance
l 0% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund a¢counting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Page 9
continued...

Portstewart Convention
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
INVESTMENT INCOME
31.12.22
31.12.21
Rent - Convention car park
Rent- Convention house
Deposit account interest
7,500
4,800
144
12,444
RAISING FUNDS
Raising donations and legacies
31.12.22
31.12.21
Support costs
4,961
NET INCOMEI(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting).'
31.12.22
31.12.21
Depreciation - owned &ssets
5,670
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2022 nor for the
year ended 31 December 2021.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 December 2022 nor for the year ended
31 December 2021.
Page 10
continued...

Portstewart Convention
Notes to the Finaneial Ststements- continued
for the Year Ended 31 December 2022
co￿ARATIVEs FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Total
funds
NET INCOME
TOTAL FUNDS CARIUED
FORWARD
TANGIBLE FIXED ASSETS
Fixtures
and
flttings
Freehold
property
Plant and
machinery
Totals
COST
Additions
300,000
40,500
16,200
356,700
DEPRECIATION
Charge for year
4,050
1,620
5,670
NET BOOK VALUE
At 31 December 2022
300,000
36,450
14,580
351.030
At 31 December 2021
INVESTMENT PROPERTY
FAIR VALUE
Additions
175,000
At 31 December 2022
175,000
NET BOOK VALUE
At 31 December 2022
175,000
At 31 December 2021
Pagell
Continued...

Portstewart Convention
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
DEBTORS: AMOUNTS FALLING DUE wfTHIN ONE YEAR
31.12.22
31.12.21
Other debtors
4,667
10. MOVEIVIENT IN FUM)S
Net
movement
in funds
Transfers
between
funds
At
31.12.22
At 1.1.22
Unrestrieted funds
General fund
75,586
(952)
74,634
Restricted funds
Mission fund
Developtnent fund
Tent fund
(841)
9,940
21,000
952
9,940
21,000
30,099
952
31,051
Endowment funds
Endowment
475,000
475,000
TOTAL FUNDS
580,685
580,685
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestrieted funds
General fund
137,239
(61,653)
75,586
Restricted funds
Mission fund
Development fund
Tent fund
4,718
9.940
21,000
(5.559)
(841)
9.940
21,000
35,658
(5,559)
30,099
Endowment funds
Endowment
475,000
475.000
TOTAL FUNDS
647,897
(67,212)
580,685
Page 12
continued...

Portstewart Convention
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
11. RELATED PARTY DISCLOSURES
Portstewart Convention w&$ operated as an unincorporated charity up until 31 December 2021. On I
January 2022 the Trustees elected to transfer the assets and liabilities of the unincorporated charity to a
limited company at what they considered to be market value. Among the fixed assets transferred were
a site on which the annual convention is held and an investment property. These assets have been
included as expendable endowment funds as they were gifted so they could be used to generate future
income for the charity. As such, whilst included as income in the SOFA, they are endowment gifts and
do not constitute gross income for Charities Act pury)oses.
Page 13

Portstewart Convention
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
31.12.22
31.12.21
INCOME AND ENDOWMENTS
Donations and legaeies
Gifts
Donations
Gift aid
597.354
31,182
4,667
633,203
Investment income
Rent - Convention car park
Rent- Convention house
Deposit account interest
7,500
4,800
144
12,444
Other income
Other income
2,250
Total incoming resources
647,897
EXPENDITURE
Charitable activities
Running costs
Convention house costs
Printing
Advertising
Sundries
Speak¢rs
Musicians
Hospitality
Site maintenance
Missionary donations
28,419
1,253
3,844
5,707
992
3,469
3,450
1,500
2,212
5,545
56,391
Support costs
Finance
Bank charges
ca￿led forward
190
190
This page does not forni part of the ststutory financial statements
Page 14

Portstewart Convention
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
31.12.22
31.12.21
Finance
Brought forward
Plant and machinery
190
5.670
5,860
Governanee costs
Accountancy and legal fees
4,961
Total resources expended
67,212
Net income
580,685
This page does not forn] part of the statutory financial statements
Page 15