The Irish Landmark Trust Limlted
{A company limited by guarantee. not having a 8hare capita
Annual Report and Audited FinanGial Statements
for the financial year ended 31 December 2022
Company Number: Nl 031218
Charity Number: IOIX15

The Irish Landmark Trust Limited
IA ¢ornpany limitèd by guarantee. not havlng a share capital)
CONTENTS
Page
Reference and Administrative Information
Directors, Annual Report
Statement of Directors, Responsibilities
Independent Auditorfs Report
8-10
Statement of Financial Activities
11
Balance Sheet
12
Notes to the Financial Statements
13-19

The Irish Landmark Trust Limited
IA company limitod by guarantse, not havlng a 8thare capitsll
REFERENCE AND ADMINISTRATIVE INFORMATION
Dlrectors
Michael O'Boyle {Chaimanl
Mary Apied (Resi9ned 22 September 2022}
Galen Bales
Emer Bell
David Canty
Iliam Cummir¥J
Mary Hanna {Re5igned 22 September 2022}
David Lowe
Caroline McErlean
Niall meagtr￿r
Elhna Murphy (Appointed 28 June 2023}
Simon P Murphy
Mona O'Rourke
Primrose Eileen IAfilson
Gavan Woods
Company Secretsry
Mona O'Rourke
Charlty Number In Northern Iroland
101205
Company Number
Nl 031218
Reglstered Offico and Principal Address
50 Bedford Street
Belfast
BT2 7FW
Audltors
Cr￿uleY$ DFK Unlimited Company
Chartered Accountants and Statutory Audit Fi
16117 College Green
Dublin
D02 V078
Bankers
Bank of Ireland
Belfast City Branch
1 Donegal Square South
BT15LR
Solicitixs
clever. Fulton Rankin
50 Bedford Street
Belfasl
8T2 7FW

The Irish Landmark Trust Limited
(A eornpany Ilmlted by 9uarants&, not having a share capi*l}
DIRECTORS. REPORT
for the finan¢ial year ended 31 Dgcember 2022
The directors present thelr Directors. Report, and the audiled ffinancial ststements for the financial year ended 31
December 2022.
The finanaal statements have been pwared in accordan￿ with the accounting policies set out in note 2 to the
financial statements and comply with the charivs memorandum 8nd articles of association, the Companies Act 20
and "Accounting and Reporting by Charities: Statement of Recommended PTrcIi￿ applicable to charibes preparing
their accounts in accordan￿ with the Financial ReF)Orting Standard applicable in the UK and Republic of Ireland FRS
102" {effeclive 1 January 20191.
Mission. Obiectives and Strategy
Mission Statement
Irish Landmart( Trust is e5tabli$hed in both Northem Ireland (1996) and the Republic of Ireland {1992) as
not-forf&rofft company. limited by guaranlee, wlth charitable status in both jurisdicbons.
To act as an educalional twst for the purpose of cOnSe￿Ing, improving and restoring buildings of character and
architectural meri( and to that end, lo rescu8, restore and make available to the public archlteclurally s¢gnificant
buildings which fomi an important part of the landscape in which they are set bul whose restoration may not
othe￿iSe be economicalty justffied.
To document the construction methods used in the buildings rescued, document techniques used in r&slorallon.
promote and develop the skills required to enable historic building$ lo be restored in a manner ¢onsistent with their
orfginal character and to promote public appreciation and understandin9 of the historic and archilectural importance
of the sdected buildings.
The wort( of lrfsh Landmark Trust ¢￿¥t&S awareness, apprectation and understanding of the value of Ireland's built
heritsge. It operates as an educational resource, demonstrating how historic buildings can be ￿￿Sed in a purposeful
and beneficial way. By making its conservation and restoration re￿rdS available. it operates as an educational
resou￿ for students of 8￿hItectUre and for owners of historic propertie5 who mKJht wish to undertake a
conservationlrestoration project
Review of Activities. Achievements and Perfomiance
Achievements and Performance
During the fi¥st six months of 2022 a large volume of holidays that were postponed due to covid restrictions were
realised. In addition, there was strong demand for ITiSh Landmark Trust holidays throughout the year. making 2022
th8 busiest year for bookings in the compan￿$ history. Along with the increase in income there was a Corresponding
increase in cost of sales. This was due in part to the grgaler volume of bookings but also to inflation and rising 8nergy
C05ts.
In 2022 the organisation conlinued the digllisation of the finance and booklng lunclions including the administratlon of
House Manager5 expenses. improvements in the treabnenl of standing charges for properties and the delivery of
dtgital gift cards. A new website was develoFed and launched to ¢learfy articulate a compelling organisational story
and make il easler for our guests lo b¢xJk a holiday. A Northern Ireland based Operations Manager was appolnted.

The Irish Landmark Trust Limited
IA company limited by guarar*t••. not havlng a share ¢apitsll
DIRECTORS, REPORT
for the financial year ended 31 De¢￿ber 2022
How Irish Landmark Achleved Thesè Aims
Preserving historic places
ITish Landmawk Trust is resF)onsible for the maintenance and upkeep of thirteen heritage proptrb&s at eleven sites
across Northern Ireland. The work lo maintain these prO￿rtIeS is carried out in line with our principals of using
fr3d￿"on?1 craft skills and sustairsable practices. We partner with Irish Lights and private property owner5 to act as
custCKlian of the buildings in our care. The majority of properbes are held on a long lease or licence. The company
owns one property at Bushmills in Co. Antrim.
AJI of the properbes in our care are subject to a Quiwuennial Pryty Inspection Report. canied out by a RIAI Grade
1 Conservation Architect. The House Manager for each pr(Ipety is responsible for day-ttrday maintenance arKI for
weekly P￿pety checks.
Prornotlng public enjoyment of historic pla¢es
The buildings rescued by Irish Landmark Trust are available to. enjoyed by many people. The many guests who
stayed at the conserved properties duriNJ 2022 enjoyed a tangible experience of our built heritage which requires no
prior knowledge or qualification. To live in an historic building. even for a short lime, has the capacity to inspire and
offer a sense of beauty and pea￿. The availability at the propeths of the hislory of e8¢h Focalion and its physical
and historical context encourages visitors to learn more.
In addition lo making the propertie$ available ft>r rent Irish Landmark TNst proparties were open duriry the Europ8an
Heritage Open Day In September.
Irish Landma￿ Trust's totsl portfolio of Ihity-three properties in Ireland has been saved and given a new viable use.
By repurposing the conserved buildings for holiday use, as well as guarante•ing their survival, they remain within
public conseiousness. These building$ help ¢￿ate a sense of plao for local communities and contribute to local
identity and memories.
In 2022 Irish Landmarf( Trust continued working with Ihe lrfsh Architectural Archive (IAA). This partnership will see
the IAA take possession of our extensive archiv8 over the next few years.
Govèrnance and management of the oryanlsatlon
The Board of Dipctors undertook a comprehensive Board Skills Audf( and Board and Chair PerfoThance Review
process in Ihe second haw of 2022.
A new suEFcommittee of the board was formed. The Communications and Development Committee has been
established to SUPPOrt the new intemal role of Communications Managèr and ensure intemal and extemal
organisational communicatsons are appropriate and reflectNe of our mission and values.
At the Annual General MeetirwJ that took in pla￿ in September 2022. Mary Apted and Mary Hanna retired. Caroline
McErlean, William Cumming, David Canty and Primrose Eileen V￿lson reti￿d by rotation and were re-appointsd
accordingty.
In 2022 there were six Board meetings taking pla￿ on average every tsvo months. The Property Committee met six
limes. Audit Committee eleven times. Communication and Development Committee met five limes. The General
Purpose Committee meets as the need arises.
The directors rEceive no remuneration or out of pocket eX￿nSeS from the Irish Landmark Trusl.
The organisatson is managed on a day-to-day basis by the Chief Executive Officer. who works with an executive team
of fwe. The executive team is augmented by a team of nine House Managers in Northern Ireland. who work on a part
time basis, dependent on bookings at Oach of their individual properti85.
Risk management
The major risks lo Irish Landmark Trusfs business and fvture viablllty have been ass&ssed. Th& dlrector8 believe that
Irish Landmart( Trust continues to lake the necessary actions to en5￿￿ the continuin9 survival and sustainable
growth of the organisation.
Flnancial Review
The results for the financial year are set out on page 11 and addit6on81 notes are provKlgd showing income and
exFtnditure in greater detail.

The Irish Landmark Trust Limited
IA company Ilmlted by guarant••. not havSng a $har• ¢aphall
DIRECTORS. REPORT
for the financial year ended 31 December 2022
Flnanclal Rosults
At the end of the financial year the charity has gro$$ assets of £500.622 {2021- £574.854) and liabilitie5 of £97,408
{2021- £138.9461. The net assets of the charfty have decreased by £32,694.
Dir•¢tors
The directors who served throughout the financial year, except as noted. were as follows..
Michael O'Boyle {Chaimanl
Mary Apled (Resigned 22 September 2022)
Galen Bales
Emer Bell
David Canty
Wllliam Cumming
Mary Hanna {Resigned 22 September 20221
David Lowe
Caroline McErl8an
Niall Meagher
Ethna Murphy {Appointed 28 June 2023)
Simon P Murphy
Mona O'Rourke
Primrose Eileen Imlson
Gavan Woods
In accordan¢e wlth the Conslitution, the directors retire by rolallon and. being eligible, offer themselves for
re-election.
The secretary who seNed during the financial year was:
Mona O'Rourke
Auditors
The auditors, Crowleys DFK Unlimited Company Chartered Ac¢ountants and Statutory Audil Fimi, will be proposed
for reappointrnent in aC￿rdance wilh séction 485 of the Companies Act 20¢A.
Sp9cial Provisiorts Relatlng to Small Companles
The above report has been p￿pared in accordance with the special provisions relating lo small companies within
Part 15 of the Companles Act 2006.
Dtsclosure of Infomiatlon to Audllors
Each of the tttsons who are directors al the lime when this Directors, Report 1$ approved has confim)ed IhaL
- so far as the direcloT is aware, there is no relevant audit infomialion of which the Company's audstors are unaware,
and
- the director has taken all the steps that ought lo have been taken as a director in order to be aware of any relevant
audit infomiats'on and lo establish that the Company's audiiors are aware of that infomiats'on.
Auditors
The auditors, Crowley$ DFK Unlimited Company have indicateil their willingness to cLJntinue in office In accordance
with the provisions of Section 485 of the Companie$ Act 2006.
Approv
d by thg Board ol Directovs on
nd signed on its behalf by:
h￿7 O'BoylB (Chairman)
Director
Simo
Dire
Murphy

The Irish Landmark Trust Lfmited
IA company Ilmltsd ty gu4fantse. not havlng a Sha￿ capital)
STATEMENT OF DIRECTORS. RESPONSIBILITIES
for the financial year ended 31 December 2022
The diTrdor5 a￿ responsible for preparing the financial statements in accordance with applicable law and
regulations.
Company law requires th8 directors to prepare financial statements for each financlal year. Under that law the
directors have elected to prepare the financial stalem•nts In accordance with United Kingdom Generalty AcLepted
Accounting Practice {United Kingdom Accounting Standards and applicable law) including FRS102 Yho Financial
Reporting Standard applicable in the UK and Republi¢ of Ireland" Under company law the directors must not
approve the financial statements unless Ihey are satlsfied that they 9ive a true and fair view of the state of affairs of
the charity and of the net income or expeThJilure of the charity for that period.
In preparing these financial statements, Ihe directors a￿ required to..
Sele￿ suitable accounting policies and apply them consistently.,
observe th& methods and princlples in the Chariti&s SORP
make judgements and estimates that are reasonable and prudent;
state whether the finanaal ststements have been prepar8J in accordance with the relevant financial reportin9
framework, identify those standards, and note the effect and the reasons for any material departur& from those
Star￿ards. and
prepare the financial statements on the going Concern basis unl8s5 It 1$ inapproprlale to presume that the charlty
will ¢ontinue in operatlon.
The directors are responslble for keeping adequate aeKounting records that are sufficient lo sh¢)w and explain the
charity's transactions and disclose with reasonable accuracy al any time the financial position of the charity and
enablg them to ensure that the financial stat•ments comply with the Companies Act 2006 and. They are also
responsible for safeguarding the assets of the charity and hence for taklng reasonable steps for th• prev•nllon and
detection of fraud and other Irregularities.
In so far as the dlrecloTs are aware:
there is no relevant audit information linfomiation needed by the charity's auditor in connection with prepartng the
auditor's report) of which the charity's auditor is unaware, and
the directors have taken all the steps thal they ought to have taken as dire¢tors In order lo make themselves
aware of any ￿leVant audit infomialion and lo establish that the charity's auditor 1$ aware of tho1 infonnation.
Approved by the Board of Dlr•¢tors on O
. o g. c?iS and sign
on Its behalf by:
Mlc
ael O'Boyle {Chaimian
Director
onPMur

INDEPENDENT AUDITOR'S REPORT
to the Members of The Irish Landmark Trust Limited
IA company Ilmited by guarantee. not havin9 • ahar• Capltal
Report on the audit of the flnanclal statsmgnts
Opinion
We have audited the financlal $tstements of The Ifish Landmark Trust Limited I'the charitable companw) for the
financial year ended 31 December 2022 which comprise Ihe Statement of Financial Activities (incorporating an
Income and Expenditure Account), the Balan￿ Sheel and notes to the financial statements. including the summary
of significant accounting policies. The financial reporting framework that has been applied in their preparation 15
applicable law and United Kingdom AecountirffJ Standards. including FRS 102 "The Financtal Reporting Standard
applsc8ble in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of
Recommended Practice aFJplicable to charities preparing their accounts in accordance with FRS 102.
In our opinion. the financial statements..
give a true and fair view of the slate of the charitable companys affairs as at 31 De￿mber 2022 and of its
incoming resources and application of resour￿, including its income and expenditure. for the financial year then
ended;
have been properly prepared in accordance wilh United Kingdom Generally AC￿pIed Accounting practi￿,. and
have ￿en prepared in accordan￿ with the requirements ollhe Companies Act 20C6 and the Charities Act 2011.
Basis for oplnion
We conducted our audit in accordan￿ with Intemational Stsndards on Auditing (UIQ IISAS {UK}l and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the al￿11 of the
financial ststements section of our report. We are iThJependent of the charity in accordan￿ with ethi￿1 requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have
fulfilled our other ethical r8sponsibilities in accordance with these requirements. We believe that the audit evidence
we have oblained is sufficient and appropriate lo provide a basi5 for our opinion.
Conclusiorts rolatlng to golng concern
In auditing the financial statements, we have concluded that the directors. use of the goin9 ¢oncem b8sis of
accounting In the preparation of the finan¢ial statements is appropriate.
Basèd on the work we have perfomied, we have not identif￿d any material un¢•rtainties relating lo events or
conditions that, individually or collectively, may ¢asl significant doubt on the charity's ability lo Continue as a going
con￿rn for a periThJ of at least twelve months from the date when Ihe financial statements are aulhorised for issue.
Our responsibilities and the wponsibililies of the directors wilh reS￿¢t to going concern are described in the
relevant seetions of this reporL
Other Infomiation
The other infomiation comprises the infO￿nation induded in the annual report olher than the financial ststements and
our Audrtorfs Report Ihereon. The directors are responsible for the other infomialion contained wilhin the annual
report. Our opinion on the financial statements does not cover the other infomialion and, except to the extent
otherwtse explicitly ststed in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other infomiation and. in doing so. consider whether the other infomiation is
materialty inconsistent with the financial stalements or our knowledge obtained in the course of the audit, or
otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent material
misslatements. we are required to determine vdhether this gives rise to a material misstatement in the financial
statements themselves. If. based on the work we have perfo￿ned. we conclude that there is a material misstatement
of this other infomialion. we are required to report that tsct. We have nothing to report in this regard.
Opinion on other rnattar prescribed by the Companies Act 2006
In our opinion, based on the worf( undertaken in the course of the aijdrt..
the information given in the D1￿Clo[$. Report for the financial year for which the financial statements are prepared
15 corisistent with the financial statements." and
Ihe Directors, Annual Report has been prepared in aC￿rdance with applicable legal requirements.

INDEPENDENT AUDITOR'S REPORT
to the Members of The Irish Landmark Trust Limited
IA Company limitefl by guara*t••, not havlng a $h#r* upltall
Matters on which we are requlred to report by exception
In the light of our knowledge and understanding of the charitable company and Its environment obtained in the course
of the audiL we have not identthed material misstatements in the Directors, Report.
We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report to
you if. in our opinion..
adequ8te accounting records have been kepl: or
the financial statement5 are in agreement with the accounting records and retums; or
certain disclosures of directors. remuneration specified by law are made" or
the directors were entitted to prepa￿ the financial staternents in accordan￿ with the small companies regime and
tske adwantage of the small compantes, exemption in preparing the Directors, Report.
Responsibilities of directors for the financial statements
As explained more fully in the Ststement of Directors. Responsibilities set out on page 7. the directors are responsible
for the preparation of the financial ststements and for being satisfied that they give a true and frail view, and for such
internal control as they determine is necessary to enable the preparation of financial statements that are free from
m*erial misstatement. whether due to fraud or error.
In preparing the financial statements. the directors are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable. matters relaled to going con￿rn and using the going cL)ncem basis of
accounting unless management either intends lo liquidate the chanty or to Cease operations, or has no realistic
alternative but to do so.
Audltorfs responsibilitios for the audll of the financial stsiements
Our objectives a￿ lo obtain reasonable assurance about whelher the finan¢i81 Ststements as a whole are free from
material misstatement, whether due to fraud or error, and lo issue an Al￿1t0rfS Report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee Ihat an audit conducted in accordan￿ with
ISAS {UKI will always detect a material misslalement when il exists. Misststemenis can arise from fraud or error and
are ¢onsidered material if, individualty or in the aggregate, they could reasonably be 8xpe¢ted to influence Ihe
economic decisions of users tsken on the basis of Ihese financial ststemenls.
Irregularities, includlng fraud, are instanwJ of nonrycompliance with laws and regLtlations. We des¢gn proodures in
line with our responsibilities, outlined above, to detect material misstatements in reS￿ct of irregularities, including
fraud. Th8 extent to which our procedures are capable of detecting irwularities, in¢luding fraud is detailed below..
Based on our dixusslons with the charity's management and the Directors, we *Jentified that the following laws and
regulations are significant to the entity=
Those laws and regulations considered to have a direct effect on the financial statements indude UK financial
reporting standards and Charity Law.
- Those18ws and regulations for which non-compliance may te fvndamental lo the operating a8￿cts of the charity
and therefore may have a material effect on the finanaal ststements include Complian￿ with the charitable
objectives, public benefit, fundraising regulations. safeguarding aThJ health and safety legislation.
These matters were dI￿uSSed amongst the engagement team at the planning stage and the team remained alert to
non-compliance throughout the audil.
Audit procedures undertaken in response to the potential risks relating to irregularilie5 (which include fraud and
noncompliance with laws and regulations) comprised of.. inquiries of management and the Direciors as to whether the
enlity complies with such laws and regulations.. enquiries with the same concerning any actual or potential litsgation or
claims. inspection of relevant legal corresponden￿. review of Director meeting minutes., testing the apprcpriatenes5
of joumal entries., arKI the perf0M18n￿ of analytical review to identify unexpected movements in account balan
which may be indi(xtive of fraud.
No instsn￿5 of material non-complianc£ were idenlrfied. However. the likelihood of detecting iFregularities. including
fraud. is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls. and the
nature, liming and extent of the audit procedures perfOrn￿d. Irregularities that result from fraud might be inherently
more drfficull lo delecl than irregularities that result from error. As explained above, there is an unavoidable risk that
material misstatements may not be detected, even though the audit has teen Plann￿ arKI p8rfomied in accordan
with ISAS (UK).
A fijrther description of our responsibilities ts available on the Financial Reporting Council's website at: hts.'Il
vNM.frc.org.ukJaudilorsrespon$ibilities. This descfiplion forms part of our audilorfs reiKJrt.

INDEPENDENT AUDITOR'S REPORT
to the Members of The Irish Landmark Trust Llmited
(A ¢ompany Ilmlted by gu?r•ntsg, not having a share capltsll
Furthgr information regardlng thè scow of our responsibilities as audltor
As part of an audit in ar£ordan¢e with ISAS {UK}, we exercise professional judgement and maintain professional
scepticism throughout the audil. We also-
Identify and assess the risks of material misststement of the financial $tal•mfrnts. whether due to fraud or effor,
design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a materlal mlsstatement resulting from
fraud 1$ higher than for one r•sulting from error. as ffaud may Involve collusion, for98ry, intentional LNnissions,
misrepresentations. or the override of internal control.
Obtsin an understsnding of intemal control relevant to the audit In order to design audtt procedures that are
appropriate in the ¢ir¢umstsnees. but not for the purpose of expressing an opinion on Ihe effectiveness of the
chaTity's intemal control.
Evaluate the appropriateness of accounliThJ policies used and the reasonableness of accounting estimates and
related disdosures made by directors.
Conclude on the appropriateness of the directors, use of the going concarn basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
Significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attenlion in our AL￿1t0¢S Report to the related disdosures In the financial
statements or, rf such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audll
eviden￿ obtained up lo the date of our Audito¢5 Report. However, future evenls or conditlons may cause the
charity to cease to contlnue as a goin9 concem.
Evaluate the overall presentation, $tw¢ture and content of the financial ststements, including the disdosures, and
whether the financlal statements represent the underfying Iransa¢tion$ and events in a manner that achieves fair
presentation.
We communicate wilh thos• Charged with governance regardlng, among other matters, the planned scope and timing
of the audit and signlficant audit findings, in¢ludlng any spnificanl d•fi¢iencies in intemal control that we identity
during our audit.
The purpose of our audSt work and to whom we (wie our respmsibiliti05
This ￿pOrt Is made solely to th8 tharity's members, as a l)ody, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit WOTk has been undertaken so that we might stste to the charity's members those
matters we are required to state to them in an auditols ￿pOrt and for no other purpose. To the ful￿$1 extent
pemiitted by law, we do not accEpl or assume responsibilty to anyone other than the charty and tho ¢harity's
memters as a body. for our audil work, for thls report, or for the opinions we have formed.
Natalle Kelly (Senior Ststutory Audltor)
for and on behalf of
CROWLEYS DFK UNLIMITED COMPANY
CHARTERED ACCOUNTANTS AND STATUTORY AUDIT FIRM
16117 College G￿n
Dublin
D02 V078
10

The Irish Landmark Trust Limited
IA company limited by 9uarant••, not havlng a share ¢api*l
STATEMENT OF FINANCIAL ACTIVITIES
{In¢orpoTating an Incomè and Expendlture A¢¢o¥nt}
for the financial year ended 31 De¢￿ber 2022
Unrestrlcted
Funds
Unrestricted
Funds
2022
2021
las restated)
Donalions and legacres
Charitable activilies
Rental income
other income
1.215
376,910
290.446
204,827
110.870
Total income
291,661
692,607
Exponditure
Charitable activities
324,355
297,591
Net {expendItUre￿nCorne
Translers bets￿en funds
(32.694)
395,016
Net movement in funds for the flnanclal year
132,694)
395.016
Reconciliation of funds
Balances brougm forward at 1 January 2022
13
435.908
40.892
Balances carried forward at 31 Decgmber 2022
403.214
435.9D8
The Statement ol Financial Activilies includes all gains and losses reGcgnised in the ffi￿a￿la1 year.
All income and expenditure relate to continuing activities. The slatemènl of financial aclivities also complies with the
requirements for an income and expenditure account under the Companies Act 2006.
Th& notes on pages 13 to 19 fom) part of the financial st81?m¢nls
11

The Irlsh Landmark Trust LimSted
IA ¢0M￿nY Ilmli•d by guarantee. not having a shar• ¢apllall
Company Number= Nl 031218
BALANCE SHEET
as al 31 December 2022
2022
2021
las restated)
Ixed Assets
Heritage assel
358,203
367,578
Current Assets
Debtors
Cash at bank and in hand
10
11.204
131.215
13.841
193.435
142.419
207.276
CredStors: Alnounts falling dup wlthln ong y9ar
11
(97,408)
1138.9461
Net Currenl Assets
45,011
68,330
Total Assets less Current Liabilities
403,214
435,908
Funds
Unrestricted
403,214
435,908
Total funds
13
403.214
435,908
These financial statements have been prepared in accordan￿ with the special provisions relating to small companies
within Part 15 of the Companies Act 2006.
Approved by the Board of Diractors and authorisèd for Issue on
behalf
and slgned on Its
aèl O'Boyle (Chairman)
Director
Sim
P Murp
The notes on pages 13 to 19 fomi part ofthe )Inanaal statements
12

The Irish Landmark Trust Limited
IA company lirnitsd by 9uarant•è, not havlng a shar• ¢•pit411
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 De¢ember 2022
GENERAL INFORMATION
The Irish Landmark Tru$1 Limited is a ccfflpany limited by guarantee incorporatsd in Northem Ireland. The
registered office of the Charity is 50 Bgdlord Street, Belfast, BT2 7FW, Northèrn Ireland which is also the
principal place of business of the charity. The financial statements have been presented in Pound ste￿Ing (£)
which is also the fun¢tional currency of the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have teen applied CA)nslstenlty in dealing with itsms which are considered
material in relalion lo the charity's financial statements.
Basls of preparatlon
The finan¢ial ststements have been prepared on the going conc•m ba$1$ under the historical cost
convention. modified 10 include certain items at fair value. The financial statements have been p￿Pared In
accordance wtlh the Statement of Recommended practi￿ ISORPJ "Accounting and Reporting by Charities
preparlng their accounts in accordan￿ with the Financial Reportlng Stsndard applicablg in the UK and
Republic of Ireland FRS 102"
Cash flow statement
The charity has avail•d of the exemption in FRS 102 from the requirement to produce a ￿$h flow ststement
tecau$e it Is dassified as a small charity.
Fund a¢¢ountlng
The foi1￿*lng are the categories of funds maintsined..
Unrestrl¢ted funds
Unrestri¢led fijnds consist of General and Desl2nated funds.
General funds represent amounts whi¢h are expendable at thè discrelion of the board. in furtherance of the
obje¢twe$ of the ¢harity.
Designated fvnds comprise unrestricted funds thal the l)oard has, at its discretion. set aside for partlcular
purposes. Th•s• destgnalions have an administrative purpose only. and do not 18galty restrict the board's
dlscrelion to apply the furKI.
Income
Income is recognlsed by inclusion in the Statement of Financial Activities only when the charity is 18gally
enti￿ed to the income, p8rforrnan￿ conditions attached to the iiemls) of income have been mgt, the amounts
involved can be measured with sufficignt reliabilty and 11 Is probable that the Income will be received by the
charity.
Income from ¢haritsblo actlvttles
Income from ¢harllable actiwties include income earned from the supply of Se￿iCe$ under conlraclual
arrangements and from performance related grants whl¢h have conditiorss that specify the provision ol
partl¢ular services to be provided by the charity. Income from govemment and other co-funders is recognised
when the charity 1$ I￿allY entitled to the income because it is fulfilling the conditions contained in the related
funding agreements. Whero a grant ts received in advance, its recognition is deferred and included in
creditors. who￿ entl￿ement occurs b8for8 income is received. il is accrued in debtors.
Grants from govemments and other Co-funders typicalty include one of the following types of conditions-
- Performanc£ based conditions.. Whe￿bY the charity is contractualty entitled to funding only lo the extent that
the core objeclives of the grant agreement are achteved. Where the charity is meeting the core objectives of
a grant agreement, il recognise$ the related expenditure, to the extent that it is reimbursable by the donor, as
in￿rne.
-rime based conditions- whereby the ¢harity is contractually entitled lo fvnding on the condition that it is
utili5ed in a parti¢ular period. In these cases thg charity reeognlses the income to the &xlenl il 1$ utilised within
the period srecified in Ihe agreement.
In the absen￿ of such ¢ondltlons, assuming that receipt is probable and the amount can be ￿liablY
measured, grant income is reco9nised once the charity is notified of enlltlemenl.
Grants re￿iVed towards capitsl expenditu￿ are credited to the Statement of Financial Activities when
received or re¢•ivable, whichever is earlier.
13

The Irish Landmark Trust Limited
IA ¢¢mpany Ilmlted by guar4ntee. not havlng a share ¢apltsll
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 December 2022
Expendlture
Expenditure is analysed betsveen costs of charitable activities and raisin9 fvnds. The costs of each actmty
are separately accumulaled and disclosed, and analystd according to their major components. Expenditure
is recognised when a legal or cnnstnjctive obligation exlsls as a resull of a past event, a transfer of economic
benefits is ￿qUIred in setllemenl and the amount of the obligation can be reliably measured. Support Costs
are those fun¢tion$ that assist the work of the charity but cannot be attributed to one aclvty. Such tosls are
allo¢ated to activities in proportion to staff time spent or other suitsble measure for each activity.
Tangiblè fixed assets and dèpre¢iatlon
Tangible fixed assets are stated at cost or at valuat￿n, less accumulaled depwiafjon. The charge to
depreeiation Is calculated to write off the original cost or valuation of tanglble fixed assets, le55 their estimated
residual value. over their expe¢ted useful lives as follows..
Heritage Asset
40 years
Debtors
D&blors are re¢conised at the settlement amount due after any discounl offered. Prepayments are valued ot
the amount prepaid net of any trade discounts due. In¢¢￿e recognised by the Charity from govèmmanl
agencies and other cfrfunders, but not yet received al financial year end. Is included in debtors.
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring les$ than three months. noticg of
withdrawal.
Taxatlon
No current or delerred taxation arises as the charity ha$ teen granted charilable exemption. Irrecoverable
valued added is expensed as incurred.
General funds
General funds represent accumulated surpluses and deficits that are available for use at the discretlon of the
company.
The company is reviewing its r8serves policy whereby sufficient general funds will be maintained $0 that in
the event of unforeseen diffieulties resulting in the unavoidable winding up of the company Ihe following
¢o$ls could be metr
. All¢)W the di8charge of all legal obligati¢)ns, including payment of statutory redundancy to all •ligibl¢ stsff,.
. Facilitate an orderfy and efficient wind down of the company-
. Protect the repulatson of the company, its directors and of its achievements during its years of operation.
Designated funds
Designated funds are unrestricted fvnds sel aside for a particular purpose.
Restrlcted funds
Restricted fvnds represent donalionslgrants re￿iVed which can only be used for particular purposes. Such
purposes are within thé overall aims of the organisation.
Herltage fund5
Heritage funds represents furKls ￿te1Ved towards Ihe re$loratlon of the company's heritage assets. These
heritage assets have been capitslised since the implemenlalion of FRS 102. Aso included here is the capiial
value of properties received a$ gifts or donations. These heritage funds do not r8pre5ent a cash reSe￿e a￿1
the funds will reduce as the heritage assets a￿ depreciated by way of a transfer of fvnds from heritag• fvnds
to general furKIs.
14

The Irish Landmark Trust Limited
IA company limited by guarant•è, not havlng a share capilall
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 December 2022
SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of these financial statements requires managemenl to make judgements, estimates and
assumption$ that affect the application of policies and reported amounts of assets and liabilities, income and
expenses.
Judgements and estimates are Continually evaluated and a￿ based on hisloiical experience$ and other
factors, in¢luding expectstions of fvtur• events that are believed to be reasonable under the circumstsnce$.
The Company makes estimales and assumptions con￿mIng the futu￿. The resulting accounting estimates
will, by definition. seldom equal the related actual r8suIts. The estimates and assumptions that have a
significant risk of causing a malerial adjustment to the carrying amounts of assets and liabililw wilhin the
next financial year are discussed below.
D•foTr•d Income gift vouchors
Thg company makes an estimate of the ￿CoVerable value of gift vouchers. The company us8s estimates
based on obj'ective evKlen¢e in determining the bvgl of gift vouchers, which the company believes, will not be
utilise. These estimates include such factors as the ageing profile of gift vouchers.
Goin9 conc•m
The company has net cash reserves of approximately £131,21 S (which includes deferred income of £48,072).
In preparlng these financial stal8menl$ the dir8cIofS ar8 of the opinion that there is no material uncertainty
regarding the Company's ability to continue as a going con￿rn. Accordingly, the* financial statements have
been prepared on a going con¢ern basis and do not include any adjustments to the carrying amounts and
classrfication of assets and liabilities that may arise if the Company was unable to oontinue as a going
concem.
Hèrilage Asset
A Heritage Asset is defined as a tan9iblg asset with architectural, historical, archaeological. art¢slic, cultural,
$¢ientific. social, or technologlcal, qualities of interest that is held and maintained principally for its
contribution lo knowledge and culture.
The company seeks to ensure that the accounting treaknent of ils properties is Consistent w¢th the underlying
legal basis of ownership. The portfolio comprises propertles on an all-island basis with varied freeholdl
leasehold terms & conditions and are treated as follows..
la) Imere we have received a donation of proFerty and have full freehold lit￿. then that a5seL when
re￿ived, will ￿ r•¢ognised in the Income Statement and Balance Sheet. The valuation of the propeity will be
provided by an iThYependent professional valuer. Depréciation will be calculated over the useful life of the
assel which will be dètemilned on 8 caSe-by￿se ba$i$. Due to the varied nature of the propettes, there ts
no one single rate of depre¢iation whlch can be Uni￿r$allY applied" however, each property will be
individually assessed to detefftiine its estimated useful life which usually will not ex￿ed 40 years.
Ibl Whore a leasehold property is transferred to Irish Landmark Trust wtth a speclfic lease term, which
requires significant additional company funding. the addl￿O￿al costs which may be incurred to brityj th8
propety to its present condition will be Capitslised. Depreciation on the capitsl cost will be cal¢ulal•d over the
term of the lease. If the provision of a lease Is outstsnding the company will depreciate the asset on an
estimated ba$is from the date of acquisition and make an appropriate prospective depreciation adjustmenl In
the year in which the updated infomiation is available.
{c} For all other properbes which do not require signrficant additional ¢anpany funding, then the costs
incurred on a day to day basis for repair and maintsnance of the fabric of these propèrti&s are recognised in
the Income Ststemenl as they are incurred. There is no c8pitalisalion and no related depreciation ¢har9e.
{dl Our heritsge assets are depreciated either over the lrfe of the asset or the term of the lease, whichever Is
applicable in accordance with subparagraphs (a) & Ibl referred to above. If ther& 1$ objective evidence of
impaimenl e.g., due 10 a catastrophic event then an impalm)enl loss may be recognised in the Income
Statement.
{1} Critical A¢¢ounting Judgem8nts and Estimates
The preparal¢on of the financial statements requi￿ management to make judgements, estimates and
assumpbons that affect the amounts reported for assets and liabililies as at the reporting date and the
amounts réported for revenues and expenses durlng the year. However, the nature of estimalion means Ihat
actual outcomes could differ from those esiimat•$. The following judgements have had the most signrficanl
effect on amounts recognised in the financ481 slalements.
15

The Irish Landmark Trust Limited
IA company limited by 9u#r*iit•è, not havlng a share ￿pi￿lI
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 December 2022
SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
(CONTINUED)
Donated Heritage Assets
The values of properties donated to Irish Landmark Trust are detemiined using a third party valuation. The
Irish LaThJm8tk Trust exer¢is&s ludgment in selecting the expected useful life and residual value of herrtage
assets on a case by case basis and have concluded that asset INes and residual values a￿ appropriate.
Impaimient ofA5sets
Assets that are subject lo amorlisation are reviewed for Impalm￿nI whenever events or changes in
circumstances Ir￿l¢ate that Ihe carrying amount may not be recoverable. An impaimienl Ioss 18 recognised
for the amount by which Ihe asset's ¢anying amount 8XfA*ds its re￿Verable amount. The recoverable
amount is the higher of an asset's fair value les$ Cost to sell and value in use. For the purpose of assessing
impaiment, assels are grouped at Ihe levels for which there a￿ separately identifiable cash flows leash
generating units). Non-financlal assets that suffered impaiment are reviewed for possible revefsal of the
impaiment al each reporting date.
Depreciation and Residual Values
The Board have reviewed the asset lives and assoeiated residual values of all fixed asset classes, and in
particular, the useful economic lif• and residual values and have concluded that these are appropriate.
INCOME
DONATIONS AND LEGACIES
Unrostri¢ted
Funds
2022
2021
Donations and legacies
1.215
1,215
376,910
In 2021 Irish Landmart Trust was donated a heritage asset pioperty with a value of £375,000.
CHARITABLE ACTIVITIES
Unrostrf¢ted
Funds
2022
2021
Income from Charitable activities- rentsl income
290,446 290.446
204,827
OTHER INCOME
2022
2021
Othèr in¢¢me
110,870
Other income in 2021 relates to Covid-19 govemment support received.
HARrrABLE ACTIVITIES
other
Support
Costs
2022
2021
Expenditure on charitsble activities
Govemance Costs IN¢te S.21
286.174
7,437
30,744
316.918
7,437
288,551
9.040
293.611
30,744
324.355
297,591
GOVERNANCE COSTS
2022
2021
Audit and legallprofessional fees
7,437
9.040
16

The Irish Landmark Trust Limlted
IA eompany limited by guarantge. not havlng a Share capitaF)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 December 2022
ANALYSIS OF SUPPORT COSTS
2022
2021
Admin15UPPOrt salarEs
30,744
NET INCOME
2022
2021
Net Incorne is slated after ¢harglng:
Depreeiation of tangible assets
Audit services
9.375
7,26S
7,422
6.925
EMPLOYEES AND REMUNERATION
Number of employeès
The average number of persons 8mployed during the finanaal year was as follows..
2022
Number
2021
Number
Parttirne
13
12
The stsff costs comprise:
2022
2021
Wages and salari¢$
Employer National Insurance
104,759
5.074
71.552
1,870
The directors received no remuneration or out of pod(et expenses during the year12021: None). No
employee received over £60,00012021: None)
FIXED ASSETS
Total
Heritsge
Ass•t
Cost
Al 31 December 2022
375,000
Depreciation
Al 1 January 2022
Charge for the financial year
7,422
9,375
At 310ecember 2022
16.797
Net book value
At 31 December 2022
358.203
At 31 December 2021- as restated
367,578
17

The Irish Landmark Trust Limited
company Ilmlted by guarantse, not having a 5har• capitsti
NOTES TO THE FINANCIAL STATEMENTS
ontinued
for the finanaal year ended 31 t)e¢ember 2022
10.
DEBTORS
2022
2021
Other debtors
Taxation and Social security o)sts
Prepayments and a¢¢rued Income
9,804
11,522
2,319
1.400
11,204
13,841
11.
CREDITORS
Amounts falling due within one year
2022
2021
Trade credito
Amounts owed to connected parties (Note 15)
Taxation and social security Costs
Defetred incoFne
Accruals
4.750
11,813
42,LK)4
2,770
74.213
8,146
12,114
48.072
31.519
97.408
138,946
12.
RESERVES
2022
2021
At 1 January 2022
(Deficitllsurplus for the financial year
43S.908
132,6941
40,892
395.016
At 31 De￿mbèr 2022
403,214
435,908
13.
FUNDS
13.1 RECONCILIATION OF MOVEMENT IN FUNDS
Totsl
Unrestrlcled
Funds
At 1 January 2021
Movement during the financial year
40.892
395,016
At 31 Dwxmbei 2021
Movement during the financial year
435,908
(32.694)
At 31 DecEmber 2022
403.214
13.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balancg
1 January
2022
Income Expendituro
Transfers
Balan¢e
betweon 31 December
funds
2022
Unreslricled funds
435,9)8
291,661
324,355
403,214
Total unrestr4¢tod funds
435,908
291.661
324,355
403.214
18

The Irish Landmark Trust Limited
IA ¢ompany limitèd by guaranteg, not havlng 4 ¥harè capltal)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 December 2022
13.3 ANALYSIS OF MOVEMENTS ON ASSETS
Fixed
assets
Current
assets
Currant
Ilabllltles
Totsl
Untestricted funds
358,203
142.419
{97,4081
403.214
Tolal unrestricted fund5
358,203
142.419
197.408
403.214
14.
STATUS
The tharity is limiled by guarantee not having a share capital.
The liability of the Mem￿1$ is limited.
Every member of Ihe company undertakes lo contribute to the assets of the ¢ompany in the event of its being
wound up while they are Mernbe￿. or within one finan¢ial year thereafter, for Ihe payment of the debts and
liabilities of the company Contracted before they eeased to be members, and the costs. char98s and
gxpen5es of winding up, and for th? adjustment of th8 rights of the ¢ontribulors amon9 Ihemselves. such
amount as may be requir&J, not exceeding £1.
15.
RELATED PARTY TRANSACTIONS
The following amounts are due to other connected parttes:
2022
2021
The lrfsh Landmatk Trust CLG
953
42,004
The Irish Landmath Twst Limited CLG INI) and its sister company in Dublin Co-operate on a n￿rn￿r of
fund-raising activities. An amount of £85,024 was charged in 2021 for management recharges of this £43,020
was paid in 2021 and an amount of £41.051 was paid in 2022 which leaves a balance of £953. There were no
management charges in 2022.
16.
POSTSALANCE SHEET EVENTS
There have been no signfficant events affecting the Charity since the financial year-end.
17.
PRIOR YEAR ADJUSTMENT
Thè financial ststements y8ar ended 31 December 2021 have been restated to incorporate the ¢apitalisalion
of a heritage asset donated to the company after a review carrted out by management. Athough the transfer
of the asset was completed after the 2021 audit, the date of tille had transfèrred during 2021. As a result,
langible fixed assets have increased by £367.578, the surplus for the year has increased by £367.578 and
net assets have inc￿8$ed by £367.578.
18.
APPROVAL OF THE FINANCIAL STATEME￿$
The financial statements were approved and authorised for Issue by the Board of Dirertors on
19