HOLYWOOD OLD SCHOOL PRESERVATION TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024
The Directors (who aye also the Trustees) of Holywood Old Sthool Presei'vation Trust ("The Trust") present theii" Annual
Report together with the Financial Statements for the year ended 31 March 2024.
The Financie¢l Statements have been prepared in accordance with the accounting poli¢ies set out in Note I to the financial
statements and cotnply with the Companies Act 2006 and the Statement ol Reconimended Practice applicable ￿ Charities
preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland
(FRS102),
Refer¢n¢e 4nd AdmlnlstrAtiv¢ Details
The Trust Is a company limited by guarantee and is Tegistei'ed with the Charity Cornrnission for Noi'theii] Ireland. Chaj'ity
number is NICIOO638 and the registeird oifice is 92 Church Road, Holywood, Co. Down. BT18 9BX.
Prln¢lpal Aedvlty
The objectives of theTrust are to preserve and pivtect for the public b¢nefit Holywood Old School, Church Road, Holywoo
Co. Down. This is achieved by th¢ monies raised from renting the hall and end wilts to various community gi'oups and
individuals on both a regular basis and on request.
Structure, Governance and M&nAgement
The Truyt iy u ru'¥i5tLrL￿ ¢hurity Lomp¥ny Ilmited by guarantee, which is govemed by its memo1￿dum and Articles of
Association. The Recruitsnent and Aptx)intment of DirectorslTruste¢s is provided foT withill the Memoi'andum and Articles
of A880¢iation of th¢ company. No person or body is permitted tr) appoint Trustees.
The Board meets appioxirnately 6 limes per ye&i' to malce decisions in keeping With the Memorandum and Artlcles of
Association, The Conipany holds an Annual General Meeiin8 each year in addition to all other general meetings. Decisions
are made by passin8 resolutions, The Board operates on a voluntary basis and is assisted by volunteers.
The Board has dele88Èed overall management of the Trust to the Chairman and Treasurer who, in turn, have delegated day-
to-day opei'ations to the part-tim¢ care¢akerIadminiytra￿r.
The Dlree¢or$
The dii'ectors have overall responsibility for matters relating to the charity. The direGlors who served during the year were as
follows,,
Simon Brid8¢
Philipp& Crone
Desmond Bi'owne
William Fitzpatrick
Gregory Mcconnell
Marc Rallai'd
Willi4m Lo¢kh&rt (appointed 26 March 2024)
Gregory Brennan (resi8ncd 7 November 2023)
The company is limited by guarantee and therefore no director had any interests in the share Capital.

HOLYWOOD OLD SCHOOL PRESERVATION TRUST
REPORT OF THE DIRECTORS (tontiDued)
FOR THE YEAR ENDED 31 MARCH 2024
Management of Risks
The Directors are aware of their responsibilities regarding the identification and management of major i'isks to which the
Trust is exposed. These TLsks are monitored on an ongoing bRsis and appropriate policieslprocedure5 have been implemented
as r4uired. It has ￿en determined that the current cosl of Ilving crisis might have some impact in relation to expected future
income. This may not be significant but will be kept under review.
Objectives And Activitles
The Memorandum and Aiticles of As3oGiation set out the objectives and aims of the Trust.
Key objectives for 2023n4 which w'e ochieved were as follows,.
To continue to have suitable tenant8 for th¢ end units and Use￿ for th¢ hall who have together provided enough income
to sustain the opa'ation of the building.
To continue to operate the building. on a sustainable l)85is, foi, the benefit of the communÈty of Holywood and in a way
that con8erYes the building5 fabric and heritag¢.
To rnaintain the bank reserve at the tar8et of £12,500
Key objectives for 2024125 are consistent with those of 2023124.
Public Benefit
In carrying out th¢ii' responsibllities the Directors hove p&id due regard to the Charity Commission of Northern Ireland
guidonce on Public Benefit.
Having reslored the Old School building, the Tiwst maintains the building and makes it avallable for a wide variety of
community gctivitles. The benefi¢iaries are the residents of Holywood and visitOl'8 lo the town who can..
enjoy the contribution the building makes to the visual &ppearance of that pait of Church Road, which is within
Holywood Conserv&tion Area.
appreciate the exterior and interior of the building and the contribulion it makes to an und¢rstanding of the heritag¢ of
the town. and
avail of ihe facility the buildtng provides for a variety of cornmunity activities in Holywood.
Flnaryclal Revlew
Tlie result8 fr>r the financial period are fully set oul in the Statement of Flnancla5 Activities on poge 7 and Ihe financial
P051tion of the Trust %s at 31 March 2024 is set out in the Balance Sheet on pages 8-9. The figures for the year ended 31
March 2024 show a deficit of £3.682 (2023.. deficit of £2,973). Tothl funds at 31 March 2024 were £43,130 (2023: £46,812).
Regerves Pollcy
At the year end the charity holds unrestricted reserves of £43.130 (2023: £46.8l2) of which £29,1)04 (2023: £29,553) is held
at cash at bank and in hand.
A policy on reserves has been established which is to achieve 8 level of r¢serves which match the needs of the charity both
t the current time and in the foresee&ble future. For 2024125 this has been set at 4 months expenditure plus £2.$00 to cover
a deposit held under the tenns of Éh¢ lease for the commercial unit. TILIS equate5 to tothl reserves of £1 1,400.

HOLYWOOD OLD SCHOOL PRESERVATION TRUST
REPORT OF THE DIRECTORS (continyed)
FOR THE YEAR ENDED 31 MARCH 2024
St&lement of DlreelDr5' Responslbllltles
The dii'ectors are responsible for preparing the fmancial statements in aCLX)rdance with applicable law and regulations.
Company law rquires the directors to prepai'e financial slatements tor each financial year which give a true and tair view of
the state of affairs of the ¢haTitablecompany and ofthe incomin8 resources and application of resources, including the income
and expenditure. ofthe charitable company for that period. In preparlng these financial statements. the directors are required
select 8Uitable accounting policies and then apply them wnsistently.
observ¢ the m¢thods 2nd pi'inciples iii the Charities SORP (FRS 102).
make judgements at]d estimates that are reasonable and prudenL
state wheth￿. appli¢&bl¢ UK Accounting Standards have been followed, subject to any material departures disclosed and
explained tn the financial ststements- and
pi'epare the fin&ncial statemen18 on the going con¢ern basis unle&8 it is inappropriate to presume that the ch￿'It￿ble
company will continue in business,
The dii'ectors are responsible for keeping proper a¢countin8 records that disclose with reasonable accuracy at any time the
rinancial position of the charitable company and enable them to ensure that the finon¢iaL ststements Comply with the
Companies Aci 2006. ThLy afL' al.%0 iespniisible foi. safeguarding the asyets of the ch8titsble company Rnd hence for taking
reasonable steps lor the prevenlion and d¢t¢ction of fraud and other irrLgularitics.
The above report has been prepared tn accordance with the speciel provision of P&rt IS of the Companies Act 2006 relatin8
lo small companies.
ON BEHALF OF THE DIRECTORS..
Marc Ballard, Dlreetor
Date