REGISTERED COMPANY NUMBER: N1031122 {Northern Ireland)
REGISTERED CHARITY NUMBEI R: HMRC XR13983
Report of the Trustees and
Financial Statements
for the Year Ended 31 March 2023
for
ST PATRICK VISITOR CENTRE LIMITED
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

ST PATRICK VISITOR CENTRE LIMITED
Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023
Page
Report of th¢ Trustees
Report ofthe Independent Auditors
Statement of Financial Activities
10
Balanee Sheet
Cash Flow Statement
12
Notes to the Cash Flow Statement
13
Notes to the Finaneial Statements
14 to 21
Detailed Statement of Financial Activities
22 to 23

ST PA TRICK VISITOR CENTRE LIMITED
Report of the Trustees
FOR THE YEAR NDED 31 MARCH 2023
The truslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the fmancial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of
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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the company is to provide a focal point for tourists, pilgrims and the local community to learn
more aboul the story of Patrick and his continuing relevance in modern Ireland and around the World. The Centre aims
to regenerate the local tourist economy after many years of the 'troubles' in Mid Down and bring communities together
particularly children through our Cross Communkty Education Programme. This Programme is developing lijths not just
between schools from different faiths and traditions in Northern Ireland but also building bridges across the border,
which is one of the main objectives.
The strategies employed to assist the company to meet those objectives include the following:_
monitoring of service and standards of customer contact to ensure that slandards are kept.
the Centre tailors service to the appropriate target audience. local history groups and interested parties, for
example being met by the Director or Heritage Offic¢r or another knowledgeable person.
detailed planning on how to handle all manTher of questions and emergencies which may arise.
ensuring guides are suitably clothed and scripted to enhance the experience,
opening and closing times should always be what has been advertised and reflect standard tourism times.
implementation of a customer care ethos.
Public benefit
The trustees are confident that the charitable aims of Sl Patrick Visitor Centre Limited satisfy the principles of public
benefit as defined in the Charities Act. They have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the aims and objectives and in planning its future activities.
The Saint Patrick Centre enhances public understanding of and access to Irish history by providing the only pemianent
exhibition in the World about Saint Patrick in Downpatrick, Northem Ireland. This has a direct benefit to the people of
Mid Down and a wider benefit to the people of County Down. The Centre was one of five 'Signature Projects, for
Northern Ereland selected by the government to bring increased prosperity and tourism revenu¢ to future generations
here. As a result the Satnt Patrick Centre primarily claims charitable status under the Charities Act as an organisation by
providing public benefit through the advancement of the arts, culture, heritage or science. The Saint Patrick Centre has a
cross community schools programme promoting a greater understanding of Saint Patrick for Children and provides a
shared community space. It advances community development and reconciliation through its eth05 of promoting Saint
Patrick as a figure who can be understood and celebrated by all of the peoples of Northern Ireland as a result of its work
with community groups and schools. What better role model to do this in modern Northern Ireland than someone from
Britain who became the Patron Saint of Ireland? This has a direcl benefit to the Community groups and schools who
participate, an indirect benefit within their communities as well as a wider benefit thyoughout Northern Ireland. As a
result, the Saint Patrick Centre also claiins Charitable Status by providing public benefit through the advancement of
education, as well as having the wider benefit of the advancement of Citizenship or community development.

ST PATRICK VISITOR CENTRE LIMITED
Report of the Trustee5
FOR THE YEAR ENDED 31 MARCH 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Centre is a private charitable organisation which typically attracts increasing numbers of local and international
visitors every year. This year has been very different but we have still supported as far as was possible our Cross
Cominunity Education Programme and hosted cross community art exhibitions in its Art Gallery, hosts the Churches
Together Organisalion, Downpatrick Citizens Advice, U3A workshops and many other charitable activities.The Centre
has also developed a new guiding walking trail called Saint Patrick's Way - the Camino of Ireland in association with
Tourism Nl and provides guided walking experiences which supports local transport operators, local cafes and hotels.
During the Christmas season the Centre provides a Giving Tree and collects presents for disadvantaged children through
social services.
FINANCIAL REVIEW
Principal funding sources
Beyond trading activilies, which accounts for the majority of income, Newry, Mourne and Down District Council
provide a grant of £115,000 and the other funding income comes from The Irish Department of Foreign Affairs and the
Heritage Recovery Fund.
Investment policy and objectives
Aside from retaining a prudent amount in reserves each year most of the charity'5 funds are to be Spent in the short temi
so there are few funds for long term investment. All funding is Grants received in advance are to be invested in
replenishing the exhibition.
Reserves policy
The Management Committee has examined ihe charity's requtrements for reserves in ligjt of the main risks to the
organisation. A policy has been established whereby unrestricted funds not committed or invesled in tangible assets held
by the charity should be 6 months of the annual budgeted expenditure.
Budgeted unrestricted expenditure for the 22123 is approximately £696,000 and therefore the target is £350,000 of
general unrestricted ￿nds. The reserves are required to meet the working capital requirements of the charity. It should
be noted that our reserves will be considerably depleted with the expenditure of £IOO,000 towards the refit of the Saint
Patrick Centre Exhibition. This will be matched against £200,000 coming from Tourism Nl and will be spend before
3 1st March 2023.
The actual reserves at 31 March 2023 amount to £68.447, which is below the target figure of £350,000. In calculating
unrestricted resei'ves the trustees have excluded funds already spent on tangible fixed assets of £3,954,937.

ST PATRICK VISITOR CENTRE LIMITED
Report of the Ti'ustees
FOR THE YEAR ENDED 31 MARCH 2023
FUTURE PLANS
The company plans continuing most of the activities outlined above in the forthcoining years and to develop the
following slrategic objectives of the future:_
l. To deliver a successfijl, efficient and effective commercial operation within the constraints of budget annually
provided by Newry Mourne and Down Council and other funding agencies.
3. To maximise visitor numbers to the Centre through effective product marketing.
4. To work in cooperation with those whose primary responsibility is to do so promote the facility to the Domestic. Rol
and GB markets.
5. To develop international interest within the US and European markets in cooperation with those whose primary
responsibility IS to do this.
6. To develop international Educational and Special Interest Markets.
7. To develop key partnerships within the public and private sectors 50 that there is a cohesive marketing approach for
the St Patrick Visitor Centre.
8. To d¢velop new experiences including Saint Patrick's Caniino as an activity-based guided walk.
9. To develop cafe facilitie5 of excellence which provides income by attracting a local audience and can accommodate
coach and Fly Drive business as well as conference business.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by
guarantee, as defmed by the Companies Act 2006.
The charity is controlled by its governing document, a deed of trust, and constithtes a limited company, limiled by
guarantee, as defined by the Companies Act 2006.
Saint Patrick Visitor Centre was set up in July 1996 as a company limited by guarantee to:
benefit the people of Downpatrick and the District of Down without distinction of sex,
race, political, religious or other opinion of a Visitor Centre with exhibits and
collections, drama and displays in relation to the history of St. Patrick and the area of
benefit.
provide for the advancement of public education in Downpatrick and the District of Down
without dislinclion of sex, race, political, religiou5 or other opinion of a Visitor Centre
with exhibits and collections.
Recruitment and appoiiilment of new trustees
Saint Patrick Centre is governed by a Memoranduin of Association. During 2022, 7 Trustees served on the Board of
Saint Patrick Centre. New Members are elected at the Annual General Meeting.
The Board provides a range of expertise and skills, including pi'oject management, accountancy and planning. The
Board have a close working relationship with the Director and in this respect the Board has a good understanding of the
project and is able to exercise appropriate levels of control.
The Board meets monthly apart from during summer months. The minutes for each meeting are recorded and circulated
prior to the next meeting foi. agreement. In tenns of membership and organisational processes, the Boord represents a
wide spectrum of the local community and operate in such a way as to provide monitoring and siipport for the Director.

ST PATRICK VISITOR CENTRE LIMITED
Report of the Trustee5
FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The company have a board of directors who meet monthly and are responsible for the strategic direction and policy of
the company.
All staff report to Ihe Director who in turn is accountable to Ihe Saint Patrick Centre Board. Given the scale of operation,
these reporting lines are entirely appropriate.
The Director has appropriate delegation rights from the Board, while control 15 monitored through monthly reports to the
Board including reports on operational and fLnancial status of the project.
Induction and training of new trustees
Induction and training of new trustees
On-going training is provided in-house by either the Director, the Administrative Manager or where necessary from
external providers. In particular:
A substantial induction pack has been prepared for recruits which deals with exhibition content.
- Duty Managers include Director, Shop Manager, Front of House Manager and Finance and Administration
Manager
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
N1031122 (Northern Ireland)
Registered Charity number
HMRC XR13983
Registered office
53a Market Street
Downpatrick
Co. Down
BT30 6LZ
Trustees
M Crichton Newspaper Editor
E McGrady Chartered Accountant
Ms E O'Neill Solicitor
Dr J Harper
V Mac Nabb
BAKing
Fr J Mcmanus
Company Secretary
T Campbell
Audilors
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

ST PATRICK VISITOR CENTRI LIMITED
Report of the Trustees
FOR THE YEI AR ENDED 31 MARCH 2023
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also the directors of St Patrick Visitor Centre Limited for the purposes of company law) are
responsible for preparing the Report of the Trustees and the financial statemenls 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 ihe slate of affairs of the charitable company and of the incoming resources and application of resources, including
the income and expenditure, of Ihe charitable company for that period. In preparing those financial statemenls, the
trustees are required to
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable
company will ¢ontiniie in business.
The trustees are responsible for keeping proper accounting records which disclose with 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 assels of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit infonnation of which the charitable company's auditors are unaware. and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
inforn]ation and to establish that the auditors are aware of that infonnation.
AUDITORS
The auditors, M.B.Mc Grady & Co, will be proposed for r¢-appoinlment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on 12 December 2023 and signed on it5 behalf by..
MSE
'Neill - Trustee

Report of the Independent Auditors to the Members of
St Patrick Vi5ltor Centre Limited
Opinion
We have audited the financial statemenls of St Patrick Visttor Centre Limited (the 'charitable company,) for the year
ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement
and notes to the financial statements, including a summary of significant accounling policies. The fmancial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requiremenls of ihe Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our Yesponsibilities under those slandards are further described in the Auditors, responsibiliti¢s for the audit of the
financial statements section of our report. We are independent of the charilable company in accordance with the ethical
requirements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethical Standard,
and we have ￿lfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
¢vidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty relating to going concern
In auditing the financial slalements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on ihe work we have perfonned, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going
concern for a period of at least twelve months from when the fmancial statements are authorised for Èssue.
OUT responsibilities and the responsibilities of the trustees with respect to going Concern are described in the relevant
sections of this report.
Other information
The trustees are responsible for the other information. The other inforn]ation comprises the information included in the
Annual Report, other than the fmancial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial slalements does not cover the other information and, except to the extent olhenvise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, eonsider whether the other infonnalion is materially inconsistent with the financial stateinents or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work underlaken in the course of the audit..
the inforination given in the Report of the Trustees for the financial year for which the financial statements are
prepared is consistent with the financial slatements. and
the Report of the Trustees has been prepared in accordance with applicable legal requiremenls.

Report of the Independent Auditors to the Members of
St Patrick Visitor Centre Limited
Matters oi) iyhich we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of
the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of ihe following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have nol been received from
branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the inforn]ation and explanations we require for our audit; or
the trustees were not entitled to lake advantage of the small companies exemption from the requirement to prepare a
Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the
charitable Company for the purposes of company law) are responsible for the preparation of the f￿anCIal statements and
for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary
to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud or error.
In preparÈng the financial statements, the trustees ale responsible for assessing the charitable company's ability to
continue as a going concem, disclosing, as applicable. matters related to going concern and using the going concern
basis of accounting unless the trustees either intend io liquidate the charitable coinpany or to cease operations. or have
no realistic alternative but to do so.

Report ofthe Independent Auditors to the Members or
St Patrick Visitor Centre Limited
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the Financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material inisstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on lh¢ basis of these financial statements.
The extent to which our procedures are Capable of detecling irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent lo which our procedur¢s are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, was as follows-.
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our knowledge and experience of the sector the company operales within.
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company.
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence. and
identified laws and regulations were communicated within the audit tearn regularly and the team remained alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's fmancial statements to material misstatement, including obtaining an
understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledg¢ of
actual, suspected and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-coinpliance with laws and regulations.
To address the risk of fraud through management bias and override of controls. we:
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions.
assessed whether judgements and assumptions made in detern)ining the accounting estimates set out in the
notes were indicative of potential bias- and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included, but were not limited to:
agreeing financial slalement disclosures to underlying supporting documentation.
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims. and
reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the
company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are
from fmancial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also
limit the audit procedures required to identify non-coinpliance with laws and regulations to enquiry of the directors and
other management and the inspection of regulatory and legal correspondence, if any.

Report ofthe Independent Auditors to the Member5 of
Sl Patrick Visilor Centre Limited
Material misstatements that arise due lo fraud Can be harder to detect than those that arise from error as they may involve
deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description fonns part of our Report of the
Independent Auditors.
Use of our report
This report is made solely to the charitable company'5 member5, as a body, in accordance wilh Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's
embers those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the
charitable coinpany's members as a body, for our audit woi'k, for this report, or for the opinions we have formed.
Mr Malac
Gra
FCA
for and on b
fofM.B.M
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
lor Statutory Auditor)
dy&Co
12 December 2023

ST PATRICK VISITOR CENTRE LIMITED
Statement of Financial Activities
FOR THE YEAR LI NDID 31 MARCH 2023
3113123
Total
funds
3113122
Total
fund5
Unrestricted
fund
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
162,488
206,413
368,901
333,562
Other trading activities
Jnvestment income
518,773
518,773
225,389
Total
681,261
206,413
887,674
558,960
EXPENDITURE ON
Raising funds
210,106
210,106
E17,271
Charitable activities
Charitable activity
636,650
23,111
659,761
582,714
Total
846,756
23,111
869,867
699,985
NET INCOMEI{EXPENDITURE)
(165,495)
183,302
17,807
(141,025)
RECONCILIATION OF FUNDS
Total funds brought forward
4,188,879
42,917
4,231,796
4,372,821
TOTAL FUNDS CARRIED FORWARD
4,023,384
226,219
4,249,603
4,231.796
The notes form part of these financial statements
10

ST PATRICK VISITOR CENTRE LIMITED
Balance Sheet
31 MARCH 2023
3113123
Total
funds
3113122
Total
funds
Unrestricted
fund
Restricted
funds
Notes
FIXED ASSETS
Tangible assets
13
3,954,937
143,214
4,098,151
3,985,663
CURRENT ASSETS
Stocks
Debtors
Cash at bank
14
15
109,400
45,180
148,144
109,400
128,185
148,144
74,789
163,816
109,005
83,005
302,724
83,005
385,729
347,610
CREDITORS
Amounts falling due within one year
16
(234,277)
(234,277)
(101,477)
NET CURRENT ASSETS
68,447
83,005
151,452
246,133
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,023,384
226,219
4,249,603
4,231,796
NET ASSETS
4,023,384
226,219
4,249,603
4.231,796
FUNDS
Unrestricted fund5
Restricted funds
17
4,023,384
226,219
4,188,879
42,917
TOTAL FUNDS
4,249,603
4,231,796
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 12 December 2023 and
were signed on ils behalf by..
E O'Neill- Trustee
The notes form part of these financial statements

ST PATRICK VISITOR CINTRE LIMITED
Cash Flow Statement
FOR THE YEAR ENDEI D 31 MARCH 2023
3113123
3113122
Notes
Cash flows from operating activities
Cash generated from operations
Tax paid
338,335
(48,408)
146,066
Net Cash provided by operating activities
289,927
146,066
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
(250,788)
(77,146)
Net cash used in investing activities
(250,788)
(77,137)
Change in cash and cash equivalents in
the reporting period
Cash and Cash equivalents at the
beginning of the reporting period
39,139
68,929
109,005
40,076
Cash and cash equivalents at the end of
the reporting period
148,144
109,005
The notes fomi part of these financial statements
12

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Cash Flow Statement
FOR THE YEI AR ENDED 31 MARCH 2023
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
3113123
3113122
Net ineome/(expenditure} for the reporting p¢riod (as per the
Statement of Finaneial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in stocks
Decrease in debtors
Increase in creditors
17,807
(141,025)
138,300
134,012
(9)
(7,089)
129,246
30,931
(34,611)
35,631
181,208
Net cash provided by operations
338J35
146,066
ANALYSIS OF CHANGES IN NET FUNDS
At 114122
Cash floiv
At 3113123
Net cash
Cash at bank
109,005
39,139
148,144
109,005
39,139
148,144
Total
109,005
39,139
148,144
The note5 fomi part of these financial slateinents
13

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statement5
FOR THE YEAR ENDED 31 MARCH 2023
CHARITIES RESERVEt S POLICY
A5 at the 31 March 2023 St Patrick Visitor Centre Ltd's balance sheet shows total funds of £4,249,603 of which
£4,023,384 is unrestricted. Per the Statement of Recommended Practice Accounting and Reporting by
Charities" when calculating the amount of unrestricted reserves trustees are required to exclude funds which have
already been invested or designated for another purpose.
St Patrick Visitor Centre Ltd's actual unrestricted reserves as at 31 March 2023 were £68,447. In calculating the
unrestricted amount the trustees have excluded funds already spent on tangible fixed assets of £3,954,937.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial Statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Slalemenl
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 'Th¢ 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 c05t
convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the futkd5, it
Is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as ihere 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. Expendithre is accounted for on an accruals basis and has
been classified under headings ihat aggregate all cost relal¢d to the category. Where costs cannot be diTectly
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 property
Fixtures and fittings
Equipment
20/9 on cost
200/0 on cost
2% oncost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
Fund aceounting
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
14
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Finaneial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023
DONATIONS AND LEGACIES
3113123
3113122
Donations
Grants
6,167
362,734
11,645
321,917
368,901
333,562
Grants received, included in the above, are as follows..
3113123
3113122
Department of Foreign Affairs
Misc Grants
Down District Council
Covid Grants
Heritage Recovery Fund
Tourism NI
Northern Ireland Hotel Foundation
Other granls
7,499
15,223
131,750
27,692
3,557
131,750
8,913
52,621
76,560
1,849
206,413
20,824
362,734
321,917
OTHER TRADING ACTIVITIES
3113123
3113122
Shop income
Exhibition
Restaurant Income
Conference Income
Educational Trips
Tour Groups
Miscellaneous
219,191
14,331
235,365
7,114
985
19,880
21,907
104,279
6,288
59,064
1,488
33,661
20,609
518,773
225,389
INVESTMENT INCOME
3113123
3113122
Deposit account interest
15
continued...

ST PATRICK VISITOR CEIYTRE LIMITED
Notes to the Financial Statements Continued
FOR THE YEAR ENDED 31 MARCH 2023
RAISING FUNDS
Other trading activities
3113123
3113122
Opening stock
Purchases
Closing stock
74,789
244,717
(109,400)
67,699
124,361
(74,789)
210,106
117,271
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 8}
Direct
Costs
Totals
Charitable activity
644,519
15,242
659,761
SUPPORT COSTS
Governance
costs
Finance
Totals
Charitable activity
9,996
5,246
15,242
NET INCOME/(EXPENDITURE)
Net incomel(expenditure) is stated after chargIn￿(crediting).'
3113123
3113122
Auditors, remuneration
Depreciation - owned assets
7,400
138,300
7,333
134,012
io.
TRUSTEES, REMUNERATION AND BII NEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended
31 March 2022.
Trustee5' expenses
There were no trustees, expense5 paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
16
continued...

ST PATRICK VISITOR CENTRE LIMITED
Note5 to the Financial Statement5 - COTitinued
FOR THE YEAR NDED 31 MARCH 2023
ii.
STAFF COSTS
3113123
3113122
Wages and salaries
314,829
182,790
314,829
182,790
The average Monthly number of employees during the year was as follows.,
3113123
16
3113122
Other Staff
Administrative Staff
Management Staff
20
No employees received emoluments in excess of £60,000.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
218.743
114,819
333,562
Other trading activities
Investment income
225,389
225.389
Total
444,141
114,819
558,960
EXPENDITURE ON
Raising funds
117,271
117,271
Charitable activities
Charitable activity
510,812
71,902
582,714
Total
628,083
71,902
699,985
NET INCOME/(EXPENDITURE)
(183,942)
42,917
(141.025)
RECONCILIATION OF FUNDS
Total fund5 brought forward
4,372,821
4,372,821
TOTAL FUNDS CARRIED FORWARD
4,188,879
42,917
4,231,796
17
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023
13.
TANGIBLE FIXED ASSETS
Fixtures
#nd
rittings
Freehold
property
Equipment
Totals
COST
At l April 2022
Additions
4,030,557
2,473,435
250,788
94,186
6,598,178
250,788
At 31 March 2023
4,030,557
2,724,223
94,186
6,848,966
DEPRECIATION
At l April 2022
Charge for year
1,611,849
80,611
916,279
54,484
84,387
3,205
2,612,515
138,300
At 31 March 2023
1,692,460
970,763
87,592
2,750,815
NET BOOK VALUE
At 31 March 2023
2,338,097
1,753,460
6,594
4,098,151
At 31 March 2022
2,418,708
1,557,156
9,799
3,985,663
14.
STOCKS
3113123
3113122
Stocks
109,400
74,789
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113123
3113122
Trade debtors
Other debtors
VAT
Prepayments and accrued income
13,527
93,853
11,624
9,181
4,076
147,177
4,485
8,078
128,185
163,816
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statevnents - continued
FOR THE YEAR ENDED 31 MARCH 2023
16.
CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR
3113123
3113122
Trade creditors
Corporation tax
Social security and other taxes
Other creditors
Accriials and deferred incorne
178,335
(19,294)
2,981
32,938
39,317
50,221
29,114
2,981
19,161
234,277
101,477
17.
MOVEMENT IN FUNDS
Net
movement
in funds
At
3113123
At 114122
Unrestricted funds
General fund
4,188,879
(165,495)
4,023,384
Restrieted funds
Heritage Recovery Fund
Tourism Nl
42,917
42,917
183,302
183,302
42,917
183,302
226,219
TOTAL FUNDS
4,231,796
17,807
4,249,603
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
681,261
(846,756)
(165,495)
Restricted funds
Tourism Nl
Hertiage Officer Funding
186,507
19,906
{3,205)
(19,906)
183,302
206,413
(23,111)
183,302
TOTAL FUNDS
887,674
{869,867)
17,807
19
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statemeiits - eontinued
FOR THE YEAR ENDED 31 MARCH 2023
17.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
in funds
At
3113122
At 114121
Unrestricted funds
General fund
4,372,821
(183,942)
4,188,879
Restricted funds
Heritage Recovery Fund
42,917
42,917
TOTAL FUNDS
4,372,821
(141,025)
4,231,796
Comparative net movement in fvnds, included in the abov¢ are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
444,141
(628,083)
(183,942)
Restricted funds
Department of Foreign Affairs and Trade -
ReconcilationlAnti-Sectarianism Funds
Heritage Recovery Flind
Newry Mourne & Down Council
Tourism NI
Nl Hotel Federation
13,846
42,917
2,250
31,270
24,536
(13,846)
42,917
(2,250)
(31,270)
(24,536)
114,819
(71,902)
42,917
TOTAL FUNDS
558,960
(699,985)
(141,025)
A current year 12 month5 and prior year 12 months combined position is as follows:
Net
movement
in funds
At
3113123
At 114121
Unrestricted funds
General fund
4,372,821
(349,437)
4,023,384
Restricted funds
Heritage Recovery Fund
Tourism Nl
42,917
183,302
42,917
183,302
226,219
226,219
TOTAL FUNDS
4,372,821
(123,218)
4,249,603
20
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2023
17.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net rnovement in funds, included in the above are
as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
1,125,402
(1,474,839)
(349,437)
Restricted fullds
Department of Foreign Affairs and Trade -
ReconcilalionlAnli-Sectarianism Funds
Heritage Recovery Fund
Newry Mourne & Down Council
Tourism Nl
NI Hotel Federation
Hertiage Officer Funding
13,846
42,917
2,250
217,777
24,536
19,906
(13,846)
42,917
(2.250)
(34,475)
(24,536)
(19,906)
183,302
321,232
(95,013)
226,219
TOTAL FUNDS
1,446,634
(1,569,852)
(123,218)
18.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
19.
GOING CONCERN
St Patrick Visitor Centre Lid is heavily dependent on an annual contribution from Newry, Down and Moume
District Council. A formal agreeinent has been made to provide funding for the year ended 31 March 2024.
Based on this agreement the directors believe that this funding will be adequate to enable the company to
continue over the next twelve months.
On this basis the directors consider it appropriate lo prepare the accounts on a going concern basis.
21

ST PATRICK VISITOR CENTRE LIMITED
Detailed Statement of Financial Activities
FOR THE YEI AR ENDED 31 MARCH 2023
3113123
3113122
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
6,167
362,734
11,645
321,917
368,901
333,562
Other trading activities
Shop income
Exhibition
Restaurant Income
Conference Income
Educational Trips
Tour Groups
Miscellaneous
219,191
14,331
235,365
7,114
985
19,880
21,907
104,279
6,288
59,064
1,488
33,661
20,609
518,773
225,389
Investment income
Deposit account interest
Total incoming resources
887,674
558,960
EXPENDITURE
Other trading activities
Opening stock
Purchases
Cafe Purchases
Closing stock
74,789
149,000
95,717
(109,400)
67,699
88,360
36,001
(74,789)
210,106
117,271
Charitable activities
Wages
Rates and water
Li￿t and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs and Maintenance
Insurance
MotorlTravel Costs
Carried forward
314,829
3,783
34,533
3,470
5,528
18,595
11,368
44,351
10,696
6,222
453,375
182,790
2,116
21.655
3,900
4,357
38,036
11,667
46,866
9,320
1,297
322,004
This page does not form part of the statutory financial statements
22

ST PATRICK VISITOR CENTRE LIMITED
Detailed Statement of Financial Activities
FOR THE YEI AR ENDED 31 MARCH 2023
3113123
3113122
Charitable xclivities
Brought forward
Programme Costs
Events
Walking tours
Bad Debt
Depreciation of tangible fixed assets
453,375
7,121
29,159
16,051
513
138,300
322,004
13,874
39,235
10,304
134,012
644,519
519,429
Support costs
Finance
Bank charges
9,996
3,778
Govern9nee costs
Auditors, reinuneration
Corporation tax
Professional Fees
7,400
(19,043)
16,889
7,333
52.174
5,246
59,507
Total resources expended
869,867
699,985
Net income/(expenditure)
17,807
(141.025)
This page does not forni part of ihe statutory financial statements
23