Lissan House Tr4 Aceountsfor iheyear ended 31 Decrnber 2024 Page 2 Trustees, Annual report The trustees present their TnL8tees Annual report in accordance with Charities SORP (effective January 2015) and the unaudited financial statem¢Dts of the Trust for the year end¢d 31 D¢c¢mkn 2024. also prepared in accordance with th¢ aforementioned Statement of Recommend Practice and FRS 102. The tnLStees. who are also dire¢tor5 of the Charity, at the date of this rew)rt and those who served during the fllwicial year together with the dates of any changes ar¢ set 1 on Page l. Princlpal Aetlvltles The Trust is established for charitable purp)ses only, specifically the preserving and developing of Lissan House and its Demesne for the b¢n¢fit of the local community and beyond. Such Purposes must be carried out exclusively in a rna[ that is ben¢fla1 to the pUb.C and is recogoised by th¢ law of Northern Ireland as being charitabl¢. It is anticipad thai the r¢d¢velopment of Lissan House and the Surrounding estate will result in a number of benefits IlUdIng. Maintaining the historical and archilecturnj legacy of Lissan House and its estate through the cons¢rvation of the building and the ¢ollllnercial exploitstion of the restoted property; Development of a community asset which will become an a¢¢essible area for the local community and tourists alike; Educating people of the histori¢al and heritage value of Lissan House and its Dcmcsne: Environmentsl and economic rege[KLOn of a currently unexploitd builth'ng and estate in the Cookstown District Council orea" Promotion of Lissan House and the Estste as a high quality destination within the Mid Ulster District Council area and the StKrrins aro providing a valuable catslyst for tourism regeneration in the region. Company Llmlted by Guarantee Each director undertakes to contribute to the &8sets of the TrusL in the event of the same being wound up whil¢ h¢ is a member, or within onc Y after he ceases to be a membcr, for paynKnl of debts and liabiliti¢s of the Trust contractcd before he ceases to be a member. and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among thcnLselves. such amount as may be required not ex¢ccdJ'ng £l.IKI. Trn$tee The Trustees who were also directors of th¢ Cllarity and who served during the year are listed on page l.
Liss4n House Trust Accomntsfor theyear ended 31 December 2024 Page 3 Trustees, report (cont'd) Achfievements and Performance Financial Review The company returned a Net Los5 of £294 (2023 Profit: £26.993). At 3 1st Decemlxr 2024 the total funds of the charity amount¢d to £309,597 (2023: £309.891), comprising restricted funds of £ NIL (2023: £ NIL), deSIted fijnds of £NIL (2023: £ NIL) and general unrestricted funds of £309,597 {2023: £309.891). Of the total funds reportcd above. £65,173 is made4w of at bank and ID han(L with bank debt of £NIL. The tTUStees endeavour to maintain sufficient funds to ensure thaL in the event of a significant drop in funding. they will be able to continue the charity's CUTrent xlivilies while cott4ideration is Yell lo ways ID whAch additional funds may Ix raised. The trustees have assessed the major risks to which the charity is exposed. and are satisfied that systans a in place to mitigate exFK>sure to the major risks. Structure GovernDee and MaDgement The charity is a company limit¢d by guarantee and is gov¢rned by its Memorandum and Articles of Association. Lissan House Tnt re8iSter¢d with the Charity Commission for Northern Ireland on 23rd December 2015. Publlc Beneflt In setting our objectives and planning our activities for the year, the trustees have given careful consideration to the Charity Commi&sion for Northern Ireland statutory guidance on public bcncfit to ensure that th¢ activities hav¢ helped achieve the clwity PUTFWS and provide a benefii to the beneficiaries. Speclal provlJlon$ relatlng to small ¢omp•nles The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2(M)6. By order of the board Sharon Loughrln Trustee Vh Aprll 2025 Robert ColvlD Trustee April 2025