The trustees present their annual report and financial statements for the period ended 31 December 2025.
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 charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The principal activity of Portico is to be a life-giving church within our local community.
Portico is committed to pursuing King Jesus and His Kingdom expressed on the North Coast, the Island of Ireland and throughout the earth, by being:
- Presence Centred: Jesus Devoted & Holy surrender
- Missionally Focused: Supernaturally Empowered & Compassionately Committed
- Family Formed: Homes of Peace & Dedicated to Discipleship
We are passionate about extending compassion to those in need and are committed to relieving sickness, financial hardship, and practically supporting and helping those in need.
We also seek to train and equip leaders, pastors, church planters and volunteers
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
We have a weekly service on a Sunday morning where approximately 100-120 people of all ages gather together to worship King Jesus. We also have a separate ‘Youth’ gathering on Sunday evenings where 15-20 young people get together to have fun and learn more about Jesus.
On Wednesday afternoons we host ‘Miracle Halls’ where a dedicated team of volunteers meet in Windy Hall Community Centre to pray for those in the local community who are sick or in need, and on Wednesday evenings 15-25 people attended ’Mission School’ to be trained and equipped to live out the Kingdom of God in their everyday.
Once a month we gather as a church family in Cheeky Chimps to share food and communion together. It's a time of great fun and joy, but also a time to refocus our attention on Jesus and His mission, while developing deeper connections with one another.
We support and partner with the World Wide Mission & Iris Global (Cambodia) on a monthly basis and plan to take a team of 9 people to Cambodia in October 2026 for our first international missions trip. We also support other local, national and international ministries, missions and organisations as needs and opportunities arise.
The results for the period are set out on pages 6 and 7 of the financial statements. For the fifteen month period ended 31 December 2025, the charity reported income of £234,736 and expenditure of £46,371, resulting in a net surplus of £188,365. At 31 December 2025, the charity's unrestricted funds amounted to £188,365, of which £11,299 had been designated for Missions.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period.
Portico Church (Portico) is registered as a private company limited by guarantee and was incorporated on 26th September 2024. The church is registered with Companies House under the number NI721766, and with the Northern Ireland Charity Commission under the number NIC110415. The principal address and registered office of Portico Church is 30 Greenhall Park, Coleraine, BT51 3FA.
The company was established under a Memorandum of Association which established the objectives and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.
The Senior Leadership Team, who are also the company members and persons with significant control, carry the spiritual authority and oversight for Portico Church. The Senior Leadership Team who served during the year and up to the date of the signature of the financial statements were:
Mr PS De Lasa
Mrs DJ De Lasa
Mr GH Stewart
Mrs CM Stewart
Mr BD Wilson (Appointed 2nd October 2025)
Mrs EJ Wilson (Appointed 2nd October 2025)
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
New directors are appointed when appropriate, Suitable candidates are considered on the basis of their skills, experience and alignment to the aims of the church. New directors will be agreed at a board meeting before being invited to join.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
settle the terms of payment with suppliers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
pay in accordance with the company's contractual and other legal obligations.
The trustees, who are also the directors of Portico Church for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year Which give a true and fair view of the state of affairs of the charity 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 trustees are required to:
• select suitable accounting policies and then apply them consistently;
• observe the methods and principles in the Charities SORP;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable UK Accounting 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 charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the period ended 31 December 2025, which are set out on pages 6 to 13.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:
examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and
state whether particular matters have come to my attention.
I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 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 financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, 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 that:
1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
2. The financial statements do not accord with those accounting records; or
3. The financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
4. There is further information needed for a proper understanding of the financial statements to be reached.
I have completed my examination and I 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.
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
Portico Church Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 30 Greenhall Park, COLERAINE, Co Londonderry, BT51 3FA.
The financial statements cover the fifteen month period from the date of incorporation on 26 September 2024, to 31 December 2025, This represents the company's first period of account, subsequent accounts will be prepared for the 12 months to 31 December.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. 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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
The Missions Fund is an unrestricted fund designated by the trustees for expenditure on missionary activities and related charitable work. As a designated fund, it forms part of the charity's unrestricted funds and may be redesignated by the trustees at their discretion.
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.
Cash donations are recognised on receipt. Other donations are recognised once the charity 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.
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.
Tangible fixed assets are initially 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 bases:
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.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
The charity 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 charity's balance sheet when the charity 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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
One trustee was reimbursed for expenses incurred on behalf of the charity. These costs were initially paid using the trustee's personal credit card and were reimbursed by the charity on presentation of supporting documentation, No trustee received remuneration or benefits during the period.
There were no employees during the year apart from the Trustees, who are also the directors of the company.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the period.
The charity is constituted as a company limited by guarantee. In the event of the company being wound up, each member is liable to contribute an amount not exceeding £1 towards the assets of the company. The company has no share capital.