REGISTERED COMPANY NUMBER: N1031122 (Northern Ireland)
REGISTERED CHARITY NUMBER: HMRC XR13983
Report of the Trustee5 and
Financial Statements
for the Year Ended 31 March 2024
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 Finaneial Statements
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Report of th¢ Independent Auditors
Statement of Financial Activities
io
Balance Sheet
Cash Flow Statement
12
Notes to the Cash Flow Statement
13
Notes to the Financial Statements
14 to 22

ST PA TRICK VISITOR CENTRE LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with
the financial statements of the charity for the year ended J l March 2024. 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 AIYD ACTIVITIES
Objeetives and aims
The main objective of the company is to provide a focal point for tourists, pilgrims and the local community to learn
more about 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 rnany years of the 'troubles' in Mid Down and bring coTnmunities together
particularly children through our Cross Community Education Programme. This Pro￿amMe is developing links not just
between schools from different faith5 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 io meet those objectives include the following:"
monitoring of service and standards of customer contact to ensure that standards 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 Officer or another knowledgeable person.
detailed planning on how to handle all manner of questions and emergencies which may arise;
- opening and closing times should always be what has been advertised and reflect standard toutism
times;
implementation of a customer care ethos.
Public benefit
The Trustees are confident that the Charitable aims of St Patrick Visitor Centre Limited satisfy the principles of public
benefit as defmed 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 plalming its fvttjre activities.
The Saint Patrick Centre enhances public understanding of and access to Irish history by providing tbe only pern]anent
exhibition in the World about Saint Patrick in Downpatrick, Northern 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 Ireland selected by the government to bring increased prosperity and tourism revenue to future generations
here. As a result the Saint Patrtck Centre primarily claims charitable statu5 under the Charities Act as an organisation by
providing public benefkt 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 ethos 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 ITeland? This has a direct benefit to the community groups and schools who
participate, an indirect benefit within their communities as well as a wider benefit throughout Northern Ireland. As a
result, the Saint Patrick Centre also claims 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 Trustees
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Charitable aetivities
The Centre is a private charitable organisation which typically attracts incieasing numbers of local and international
vÈsitors every year. This year has been very different but we have still supported as far as was possible our Cross
Community Education Programme and hosted cross community art exhibitions in its Art Gallery, hosts the Churches
Together Organisation, Downpatrick Citizens Advice, U3A workshops and many other charitable activities.The Centre
has also developed a new guiding walkkng trail called Saint Patrick's Way the Camino of Ireland in association with
Tourism NI and provides guided walking experiences which supports local transport operators, local cafés and hotels.
During the Christmas season ihe Centre provides a Giving Tree and collects presents for disadvantaged children through
social services.
FINANCIAL REVIEW
Principal funding sources
Beyond trading activities, which accounts for the majority of income, Newry, Mourne and District Council
provide a grant of £131,000 and the other funding income comes from The Irish Department of Forei￿ Affairs, the
Ancient Order of Hibernians in America and the Heritage Recovery Fund.
Investment poliey and objectives
Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short terni
so theie are few funds for long tenn invesknent. All funding is Grants received in advance are to be invested in
replenishing the exhibitton.
Reserves policy
The Management Committee has examined the charity's requirements for reserves in light of the main risks to the
organisation. A policy has been established whereby unrestricted funds not committed or invested in tangible assets held
by the charity should be 6 months of the annual budgeted expenditure.
Budgeted unrestricted expenditure for the 24125 is approximately £696,000 and therefore the target is £350,000 of
general unrestricted funds. The reserves are required to meet the working capital requirements of the charity.
The acthal reserves at 31 March 2024 arnount to £106,513 which is below the target figure of £350,000. In calculating
unrestricted reserves the trustees have excluded funds already spent on tangible fixed assets of £3,969,076

ST PATRICK VISITOR CENTRE LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
FUTURE PLANS
The company plans continuing most of the activities outlined above in the forthcoming years and to develop the
following strategic objectives of the future:.
l. To deliver a successfvl, efficient and effective commercial operation within the constraints of budget annually
provided by Newry Mourne and Down Council and other funding agencies.
3. To maxirni5e 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 so that there is a cohesive marketing approach for
the St Patrick Visitor Centre.
8. To develop new experiences including Saint Patrick's Camino as an activity-based guided walk.
9. To develop cafe facilities 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 ttust. and constitutes a limited company, limited by
guarantee, as defmed by the Companies Act 2006.
The chaiity is controlled by its governing document, a deed of trust, and constitutes a lirnited company, limited by
guarantee, as defmed 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 distinction of sex,
race, political, religious or other opinion of a Visitor Centre with exhibits and collections.
Recruitment and appointment of new trustees
Saint Patrick Centre is governed by a Memorandum of Association. During 2022, 7 Ttustees 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 project 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 for agreement. In tenns of membership and organisational processes, the Board represents a
wide spectrum of the local community and operate in such a way as to provide monitoring and support for the Director.

ST PATRICK VISITOR CENTRE LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
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 the Director who in tum is accountable to the 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 is monitored through monthly reports to the
Board including reports on opera¢ional and fmancial 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 New Trustees. Staff induction packs includes 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
H￿(Elc XR13983
Registered office
53a Market Street
Downpatrick
Co. Down
BT30 6LZ
Trustees
M Crichton Newspaper Editor
E McGrady Chartered Accountant
Ms E Oweill Solicitor
Dr J Harper
V Mac Nabb
BAKing
Fr J Mcmanus
Company Secretary
T Campbell
Auditors
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
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
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 statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trnstees to prepare financial statemenls for each financial year which give a true and faÈr view
of the state of affairs of the charitable company and of the incoming resources and application of resources, including
the income and expendlture, of the charitable company for that period. In preparing those fll)an¢ial statements, 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 fmancial statements on the going concern basis unless it is inappropriate lo presume that the charitable
company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the fmancial position of the charitable company and to enable them to ensure that the f￿ancial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit inforniation of which the charitable company's auditors are unaware. and
the tsustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that infonnation.
AUDITORS
The auditors, M.B.Mc Grady & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trnstees on ry November 2024 and signed on its behalf by:
Ms E Oweill - Trustee

Report of the Independent Auditors to the Members of
St Patrick Visitor Centre Limited
Opinion
We have audited the financial statements of St Patrick Visitor Centre Limited (the 'charitable company,) for the year
ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement
and notes to the fjnancial statements, including a summary of significant accounting 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 2024 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 requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilÉties under those standards are further described in the Auditors, responsibilities for the audit of the
fmancial statements section of our report. We are independent of the charitable company in accordance with the ethical
requirements that are relevant to our audit of the financial 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
evidence we have obtained is sutyicient and appropriate to provide a basis foi our opinion.
Material uneertainty relating to going concern
In auditing the f]nancial statements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the fmdncial statements is appropriate.
Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast sigiificant 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 issue.
Our responsibilitie5 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 infonnation. The other inforniation comprises the inforniation included in the
Am]ual Report. other than the fmancial statements and our Report of the Independent Auditors thereon.
Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent otherwise
explicitly stated in our report, we do not express any forn] of assurance conclusion thereon.
In connection with our audit of the fmancial statements, our responsibility is to read the other infonnation and, in doing
so, consider whether the other infomiation is materially inconsisteTht with the fJnan¢ial statements or our knowledge
obtained in the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we aTe required to detennine 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 mateTial
misstatement of this Other inforn)ation, 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 undertaken in the course of the audit:
the information given in the Report of the Trustees for the fmancial year for which the financial statements are
prepared is consistent with the fmancial statements. and
the Report of the Trustees has been prepared in accordance with applicable legal requiTements.

Report of the Independent Auditors to the Members of
St Patrick Visitor Centre Limited
Matters on which Ive are required to report by exception
In the light of the knowledge and understanding of the charktable company and its environment obtained in the course of
the audit, we have not identified material misstatements in the Report of the T￿￿tee5.
We have nothing to report in respect of the following matter5 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 not been received from
branches not visited by us. or
the financial statements are not in agreement with the accounting record5 and Teturns. or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit. or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a
Strategic Report or in preparing the Report of the Tn]stees.
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 fmancial statements and
for being satisfied that they give a true and fair view, and for such internal control as the trnstees determine is necessary
to enable the preparation of fu)ancial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concem
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have
no Tealistic alternative but to do so.

Report of the Independent Auditors to the Members of
St Patrick Visitor Centre Limited
Our responsibilities for the audit of the financial stattmellts
Our objectives are to obtain reasonable assurance about whether the fmancial 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 assuTance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement 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 the basis of these finoncial statements.
The extent to which our procedures are capable of detecting 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 delect material misstatement5 in respect of I￿egular1t]es, including fraud.
The extent to which our procedures 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 operates within.
we focused on specific laws and regulations which we considered may have a direct material effect on the
fmancial 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 wilhin the audit team regul￿lY and the team rematned alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's f￿anCIal statements to material misstatement, including oblaining an
understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, Suspected and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws aThd regulations.
To address the risk of fraud through management bias and override of controls, we..
perfomied anal>rtical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions.
assessed whether judgements and assumptions made in detennining the accounting estimates set out in the
notes were indicatlve of potential bias; and
investÈgated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-cornpliance with laws and regulations, we designed procedures which
included, but were not limited to-.
agreeing fmancial statement 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 financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also
Itmit the audit procedures required to identify non-compliance with laws and Tegulations to enquiry of the directors and
other management and the inspection of regulatory and legal correspondence, if any.

Report of the Independent Auditors to the Members of
St Patrick Visitor Centre Limited
Material misstatements that arise due to 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 W1￿.frC.Org.ukAaudltOTsreSponSibl1itie5. This description forn]s part of our Report of the
Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with 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
members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest
extent perniitted by law, we do Thot accept or assume responsibility to anyone other than the charitable company and the
charitable company's members as a body> for our audit work, for this report, or for the opinions we have fomled.
Mr Malach
Grady
CA{S
for and on
eha
f ofM.B.M¢ G
Chartered Ac
untants
Statutory Auditors
Raihmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
Lor
atutory Auditor)
I l November 2024

ST PATRICK VISITOR CENTRE LIMITED
Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2024
3113ll4
Total
funds
3113123
Total
funds
Unrestricted
fund
Reslricted
runds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
168,405
28,223
196,628
368,901
Other trading activities
005,261
605,261
518,773
Total
773,666
28,223
801,889
887.674
EXPENDITURE ON
Raising funds
250,395
250,395
210,106
Charitable activitios
Charitable activity
692,701
32,747
725,508
659,761
Total
943,156
32,747
975,903
869,867
NET INCOMEI(EXPENDITURE)
(169,490)
(4,524)
{174,014)
17,807
RECONCILIATION OF FUIYDS
Total funds brought forward
4,023 J84
226,219
4,249,603
4,231,796
TOTAL FUNDS CARRIED FORWARD
3,853,894
221,695
4,075,589
4,249,603
The notes fomi part of these financial statements
io

ST PATRICK VISITOR CENTRE LJMITED
Balanee Sheet
31 MARCH 2024
3113124
Total
funds
3113123
Total
funds
Unrestricted
fund
Restrieted
funds
Notes
FIXED ASSETS
Tangible assets
12
3,747J81
221,695
3,969,076
4,098,151
CURRENT ASSETS
Stocks
Debtors
Cash at baT
13
14
111,520
65,381
52,054
111,520
65,381
52,054
109,400
128,185
148,144
228,955
228,955
385,729
CREDITORS
Amounts falling due within one year
15
(122,442)
(122,442}
(234,277)
NET CURRENT ASSETS
106,513
106,513
151,452
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,853,894
221,695
4,075,589
4,249,603
NET ASSETS
3,853,894
221,695
4,075,589
4,249,603
FUNDS
Unrestricted funds
Restricted funds
17
3,853,894
221,695
4,023,384
226.219
TOTAL FUNDS
4,075,589
4,249,603
These fmancial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The fmancial statement5 were approved by the Board of Trustees and authorised for issue on Fl November 2024 and
were signed on its behalf by..
E ONeill - Trustee
The notes forn) part of these financial statements

ST PATRICK VISITOR CENTRE LIMITED
Cash Flow Statement
FOR THE YEAR ENDED 31 MARCH 2024
3113124
31nn3
Notes
Cash flows from operating activilies
Cash generated from operations
Tax paid
(106,172)
19,294
338,335
(48,408)
Net cash (used in)/provided by operating activities
(86,878)
289,927
Cash flows from investing activities
Purchase of iangible fixed assets
(9,225)
(250,788)
Net cash used in investing activities
(9,225)
(250.788)
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalent5 at the
beginning of the reporting period
(96,103)
39,139
148,144
109,005
Cash and cash equivalents at the end of
the reporting period
52,041
148,144
The notes forni part of these fmancial statements
12

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Cash Flow Statement
FOR THE YEAR ENDED 31 MARCH 2024
RECONCILIATION OF NET (EXPENDITURE}IINCOME TO NET CASH FLOW FROM
OPERATING AcfivITIES
3113124
3113123
Net (expenditure)lincome for the reporting period (as per the
Statement of Finaneial Activities)
Adjustn)ents for:
Depreciation charges
Inciease in stocks
Decrease in debtors
(Decrease)/increase in creditors
(174,014)
17,807
138,300
(2,120)
62,804
(131,142)
138,300
{34,611)
35,631
181,208
Net cash (used in)Iprovided by operations
(106,172)
338,335
ANALYSIS OF CASH AND CASH EQUIVALEIYTS
3113n4
3113123
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdraft5 falling due within one year
52,054
{13)
148,144
Total cash and cash equivalenls
52,041
148,144
ANALYSIS OF CHANGES IN NET FUI4IDS
At 114123
Cash flow
At 3113124
Net cash
Casb at bank
Bank overdraft
148,144
(96,090}
(13)
52,054
(13)
148,144
(96,103)
52,041
Total
148,144
(96,103)
52,041
The notes forni part of these financial statements
13

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024
CHARITIES RESERVES POLICY
As at the 31 March 2024 St Patrick Visitor Centre Ltd's balance sheet shows total funds of £4,075,589 of which
£3,849,370 is unrestricted. Per the Statement of Recommended Practice Accounting and Reporting by
Charities" when calculating the amount of untestricted reserves trustees are required to exclude funds which have
already been invested or designated for another pulyose.
St Patrick Visitor Centre Ltd's a¢￿al unrestricted reserves as at 31 March 2024 were £106,513. In calculating the
unrestricted amount the trustees have excluded funds already spent on langible fixed assets of £3,742,857.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The fmancial 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: 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 fmancial statements have beell prepared under the historical cost
convention.
Income
All income is recognised in the Statement of Financial Activities onc¢ the charity has entitlement to the funds, it
s probable that the income will be Teceived and the amount can be measured reliably.
Expenditure
Liabilities are reCO￿lSed as expenditure as 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 acwls 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 property
Fixtures and fittings
Equipment
20/0 on cost
20/0 on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
Fund accounting
Unrestricted fvnds 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 specifked by the donor or when funds are raised for particular restricted purposes.
Further explanation of the narnre and pU￿OSe of each fund is included in the notes to the fll)ancial statements.
14
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
DONATIONS AND LEGACIES
3113124
3113123
Donations
Grants
32,855
163,773
6,167
362,734
196,628
368,901
Grants received, included in the above, are as follows..
3113124
3113123
Department of Foreign Affairs
Misc Grants
Down District Council
Northern Ireland Hotel Foundation
Other grants
10,242
7,499
15,223
131,750
1,849
206,413
131,750
21,781
163,773
362,734
OTHER TRADING ACTIVITIES
3113124
3113123
Shop income
Exhibition
Restaurant Income
Conference Income
Educational Trips
Tour Groups
Miscellaneous
267,996
28,666
250,385
4,550
2,147
34,539
16,978
219,191
14,331
235,365
7,114
985
19,880
21,907
605,261
518,773
15
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
RAISING FUNDS
Other trading activities
3113124
3113123
Opening stock
Purchases
Closing stock
109,400
252,515
(111,520)
74,789
244,717
(109,400)
250,395
210,106
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 7)
Direct
Costs
Totals
Charitable activity
691,330
34,178
725,508
SUPPORT COSTS
Governance
costs
Finance
Totals
Charitable activity
11,267
22,911
34,178
NET INCOMEI{EXPENDITURE)
Net incomel(expenditure) is stated after chaigingl(crediting)'.
3113n4
3113123
Auditors, remuneration
Depreciation - owned assets
6,500
138JOO
7,400
138,300
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
16
continued...

ST PA TRICK VISITOR CENTRE LIMITED
Notes to th¢ Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
io.
STAFF COSTS
3113124
3113123
Wages aThd salaries
344,138
314,829
344,138
314,829
The average monthly number of employees during the year was as follows:
3113124
21
3113123
16
Other Staff
Administrative Staff
Management Staff
25
20
No employees received emoluments in excess of £60,000.
ii.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
162,488
206,413
368,901
Other trading activities
518,773
518,773
Total
681,261
206,413
887,674
EXPENDITURE ON
Raising funds
210,106
210,106
Charitable aetivities
Charitable activity
636,650
23,111
659,761
Total
846,756
23,111
869,867
NET INCOMEI(EXPENDITURE)
(165,495)
183,302
17,807
RECONCILIATION OF FUNDS
Total funds brought forward
4,188,879
42,917
4,231,796
TOTAL FUNDS CARRIED FORWARD
4,023,384
226,219
4,249,603
17
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - eontinved
FOR THE YEAR ENDED 31 MARCH 2024
12.
TANGIBLE FIXED ASSETS
Fixtures
and
rittings
Freehold
property
Equipment
Totals
COST
At l April 2023
Additions
4,030,557
2,724,223
9,225
94,186
6,848,966
9,225
At 31 March 2024
4,030,557
2,733,448
94,186
6,858,191
DEPRECIATION
At l April 2023
Charge for year
1,692,460
80,611
970,763
54,484
87,592
3,205
2,750,815
138,300
At 31 March 2024
1,773,071
1,025,247
90,797
2,889,115
NET BOOK VALUE
At 31 March 2024
2,257,486
1,708,201
3J89
3,969,076
At 31 March 2023
2,338,097
1,753,460
6,594
4,098,151
13.
STOCKS
3113124
3113123
Stocks
111,520
109,400
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113124
3113123
Tiade debtors
Other debtors
VAT
Prepayments and accrued income
8,261
45,964
13,527
93,853
11,624
9,181
11,156
65,381
128,185
18
continued..

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statement5 - Colltinued
FOR THE YEAR ENDED 31 MARCH 2024
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113124
31Dn3
Bank loans and overdrafts (see note 16)
Trade creditors
Corporation tax
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
13
51,159
178,335
(19.294)
2,981
50,132
32,938
39,317
21,138
122,442
234,277
16.
LOANS
An analysis of the maturity of loans is given below..
3113n4
3113123
Amounts falling due within one year on demand:
Bank overdrafts
13
17.
MOVEMENT IN FUNDS
Net
movement
in funds
At
3113124
At 114123
Unrestricted funds
General fund
4,023,384
(169,490}
3,853,894
Restrieted funds
Heritage Recovery Fund
Tourism Nl
42,917
183,302
(858}
(3,666)
42,059
179,636
226,219
(4,524}
221,695
TOT AL FUNDS
4,249,603
(174,014)
4,075,589
19
continued...

ST PATRICK VISITOR CENTRE LIMITED
Note5 to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
17.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
773,666
(943,156)
(169,490)
Restricted funds
Department of Foreign Affairs and Trade -
ReconcilationlAnti-Sectarianism Funds
Heritage Recovery Fund
Tourism NI
Hertiage OtTicer Funding
10,242
(10,242)
(858)
(3,666)
(17,981)
(858)
(3,666)
17,981
28,223
(32,747)
(4,524}
TOTAL FUNDS
801,889
(975,903)
(174,014)
Comparatives for 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 NI
42,917
42,917
183,302
183,302
42,917
183,302
226,219
TOTAL FUNDS
4,231,796
17,807
4,249,603
20
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
17.
MOVEMENT IN FUIYDS - continued
Comparative net movernent in ￿nds. included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
681,261
(846.756)
(165,495)
Restrieted 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
A current year 12 months and prior year 12 month5 combined p051tion is as follows..
Net
movement
in funds
At
3113124
At 114122
Unrestricted funds
General fund
4,188,879
(334,985)
3,853,894
Restricted funds
Heritage Recovery Fund
Tourism Nl
42,917
(858)
179,636
42,059
179,636
42,917
178,778
221,695
TOTAL FUNDS
4,231,796
(156,207)
4,075,589
21
continued...

ST PATRICK VISITOR CENTRE LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
17.
MOVEMENT IN FUNDS - continued
A current y¢ar 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrieted funds
General fund
1,454,927
(1,789,912)
(334,985)
Restricted funds
Department of Foreign Affair5 and Trade -
ReconcilationlAnti-Sectarianism Funds
Heritage Recovery Fund
Tourism NI
Hertiage Officer Funding
10,242
(10,242)
(858)
(6,871)
(37,887)
(858)
179,636
186,507
37,887
234,636
(55,858)
178,778
TOTAL FUNDS
1,689,563
(1,845,770)
(156,207)
18.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
19.
GOING CONCER
St Patrick Visitor Centre Ltd is heavily dependent on an annual contribution from Newry, Down and Mourne
District Council. A fonnal agreement has been made to provide ￿ndillg for the year ended 31 March 2025.
Based on this agreement the directors believe that this funding WIRI be adequate to enable the company to
continue over the next twelve months.
On this basis the directors consider it appropriate to prepare the accounts on a going concern basis.
22