THE PALATINE TRUST
STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDING 31 DECEMBER 2022
Unrestricted
Funds
Total Funds
2022
Total Funds
2021
Noie
Incoming Resources
Activities for generattng funds:
Interest Receivable
40
40
Total Incoming Resources
ReSoU￿eS Expended
Resources expended on furtherance of the Charitys objects
1,079
Resources expended on managing and adminlstering the charity
1,163
1,163
1,288
Total Resources Expended
1,163
1,163
2,367
Net Movement in Funds for the year
(1.123)
{1,123)
(2.365)
Total Funds Brought Forward
20.325
20,325
22,690
Total Funds Carried For+Rrd
19,202
19.202
The charity has no recognised galns or losses other than the results for the
year as set out above
All income and expenditure derive from continuing activities
The ststement of financial activities also complEs with the requirements of an income and expenditure account
under the Companies Act 2006
{51

THE PALATINE TRUST
BALANCE SHEET AS AT31 DECEMBER 2022
2022
2021
Note
Fixed Assets
Tangible Assets
1.041
1.158
Current Assets
Projects in Progress
Cash in Bank and in Hand
19,071
19,071
20,067
20,067
Creditors.. Amounts falling due within year
(910)
(900)
Net Current Assets
18.161
19,167
Total Assets less Current Llabilities
19,202
20,325
Net Assets
19,202
20,325
Represented By:
Restricted Funds
19,202
20.325
The directors. statements required by Section 4712) and (3) are shown on the following page
which fornis part of this Balance SheeL
(6)

The Palatine T
Balan¢e Sheet
continued
Directors, Statements required by Section 475(2) and13)
for the year ended 31st December 2022
In approving these financial statements as directors of the company hereby confirm."
(a}
that for the year stated above the company was entitled to the exemption conferred by Section 477
of the Companies Aci 20(￿.
(b)
that no noti￿ has been deposÈted at the registered office of the ￿rnpanY pursuant to Sei*on 476
requesting that an audit be conducted for the year ended 31 st December 2020-, and
(c)
that we acknovAedge our responsibilities for.
(1)
ensuring that the company keeps accounting records vthich comply with Se(*ion 386"
and
{2)
preparing financial statements which gi￿ a true and fair view of the state of affairs of the
company as at the end of the fr￿la1 year and of ts profft or loss for Ihe year then
ended in accordan￿ the requirement5 of Section 393 and which otherwise cornply
with the provisions of the Companies Act 2006 relating to finanaal ststements. $0
far as applicable to the company.
These accounts have been prepared in accordance with the provÉsb)ns applicable to companies subjwA to the
small companles re9ime.
The financial statements were approved and authorised for issue by the Board on the 26 July 2023
and are signed on their behaw by:
Flnbar Mccornilck
Director
Registration No: N1033261

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022
Note I
Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention and in
accordance wtth the Statement of Recommended Practice "Accounting and Reporting
by CharTties" (FRS102), the Companies {Northern IreLgnd) Order 2006 and in
accordan￿ with the Financial Rep)rting Standard applicable in the UK and Republic of
Ireland (FRS 102) as amended for accounting periods commencing from 1 January 2015.
The financial ststements have ben prepared on a going cOn￿M basis which assumes
that the company will continue in operab.onal existen￿ for the foreseeable future. The
validity of this assumption depends upon ￿ntinUed support of various agenGies.
Cash flow statement
The directors have taken advantage of the exemption in Financial Reporting Standard
No.1 (revised) from including a cash flow ststement in the financial statements on the
grounds that the charity is small.
Income
Income comprises grants received and receivable together witt) other sundry revenues.
Grants
Grants received, including grants for the purchase of fixed assets, are recognised in full
in the ststement of financial activib.es in the year in which they are receivable.
Other incoming resour¢es
Incoming resources including investment income are credited to the statement of
financial activities when receivable.
Resources expended and apportlonment
Resources expended are recognised in the period in which they are incurred.
The majority of costs are directly attributable to specffic ath"vrties.
Management and administration costs comprise expenditure incurred itself as an
organisation.
Depreciation
Depreciation is calculated so as to Write off the ￿)St of the asse( less its estimated
residual value, over the useful economic Irfe of the asset as follows:
Kj'llough Yawl:
Fixiures & Equipment:
Exhibition Items:
10% reducing balance
200/0 reducing balance
20% reducing baEan
(8)

Note 1
Accounting Policies (conb'nued)
Foreign currencies
The company has had no transactions in foreun currencies.
Fund accounting
The charity has different types of funds for which it is responsible. and which require
separate disclosure. These are as follows:
a. Restricted funds
Grants receNed which are eamiarked by the grantor for specific purposes. Such
purposes are wthin the overall aims of the organisation
b. Unrestricted funds
Funds which are expendable at the discretion of directr)rs in the furtherance of the
objects of the charity. In addition funds may be held in order to finance capital
investment and working capitsl.
For the pr&%ent the Charitrfs policy is to hold all funds as restrtcted.
Note 2
Investment income
Totsl Funds
2022
Total FurKIs
2021
Bank interest r￿1Ved
40
40
Note 3
Costs in furtherance of charitable objectives
Totsl Funds
2022
Total Funds
2021
Repairs to Kinder House
Repair to Killough C.C.
Projects completed
1,079
1,079

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022
Note 4
Resources expended on managing and administering the charity
Total Funds
2022
Total Funds
2021
offi￿ Costs
Accountancy Fees
Sundry Expenses
Bank charges
Depreciation
1,030
1,042
100
16
130
16
117
1,163
1,288
Note S
Total Resources expended
Depreciation Other Costs Total Funds Total Funds
2022
2021
Direct charitable expenditure
1,079
Management and administration
117
1,163
1.288
117
1,163
2,367
The Trustees did not receive any remuneration or reimbursement of expenses for the year (2021- £nil).
(10

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022
Note 6
Net movement of funds in the year
Net movement of funds is stated after charging:
2022
2021
Depreciation
117
130
Note 7
Tangible fixed assets
Killough Fixtures Exhibiti'on
YavA
& Equip
Items
Total
Balan￿ 1 January 2022
Balance 31 December 2022
10.430
10,430
7.470
7,470
6,759
6,759
24.659
24,659
Depreciation
Balance 1 January 2022
Charge for year
Balance 31 December 2022
9.530
90
9,620
7,223
25
7,248
6,748
23,501
117
23,618
6,750
Net book value
At 31 December 2022
810
1,041
At 31 December 2021
900
247
11
1,158
Note 8
Amounts falling due within one year
2022
2021
Accruals
910
910
900
900
(11

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022
Note 9
statement of Funds
Balan
Incoming
at 01101122 ReSoUr￿S
Expenditure
Balance
at 31112122
Lottery Fund
Down District Council
D.O.E.
Other
97,814
59,623
24.543
(161.655)
97,814
59,623
24,543
(162.778)
40"
1,163
Unrestricted Funds
20,325
40
1,163
19,202
The opening balan￿ on the lottery fund includes sundry other grants.
Note 10 Anatysis of Net Assets
Tangible
Other
Fixed Assets Net Assets
Total
Unrestricted Funds
1,041
18,161
19,202
Note 11 Contingencie8
The company has a conts'ngent liability to repay grants received should certain condits.ons under which
they were awarded cease to be fulfilled.
Note 12 Company limited by guardnte•
The company is limited by guarantee not having a share capital. The liability of eath of the members
is limited to £1.
(12