Charity Registration No. NIC102897 Company Registratlon No. N1033261 (Northern Ireland) The Palatine Trust Company Limited by Guarantee Trustees. Report & Unaudited Accounts Year Ended 31 December 2022
THE PALATINE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2021 Contents page Members of the board and professional advisors Directors annual report 12) _ {3) Independent examinerfs report 14) Staternent of financial activities (5) Balance sheet Notes to financial statements (8) . (12)
THE PALATINE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022 Trustees James Conlon Bary Mulqueen "eran Keville Finbar Mccormick Helen Hossack Secretary Finbar Mccormick Charity number NIC102897 Company number N1033261 Registered office 2 William Street Nevrtownards BT23 4AH Accountants Guardian Chartered Accountants 2 William Street Newtownards BT23 4AH Buslness address 38 Castle Street Ilough Downpatrick BT30 7QQ Bankorn Ulster Bank Ltd 218 Market Street Dovmpatrick BT30 6BU Sollcltors Cleaver. Fulton & Rankin 50 Bedford street Belfast BT5 7FW (1)
The Palatine Trust Acom an limited uarantee Re rt of the trustees inco ratin for the ear ended 31 December 2022 the directo. re The trustees present their report and the financial statements for the year ended 31 Dernber 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 and comp with the charity's goveming document, the Companies Act 20( an '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).. Structure, governance and management Legal Status The Palatine Trust is a company limited by guarantee and is registered as a charity with HMRC. Govemance The company is govemed by ts Memorandum and Article of Association. The company is not for profit and limited by guarantee. Management The company is managed by a board of five Trustees who meel regulady to discuss the current and future activities of the organisation. Financial Controls The directors feel that there are sufficient rx)ntrols in the company to allow it lo operate effectNe]y. The reporting requirements for each funder are maintained and controlled effectively. Risk Rewew The directors have assessed the major risks io vthich the chanty is exposed, in partlar , those risks related to the operats'ons and finances of the company and are satisfied that the systems are in place to mitigate our exposure to the major risks. Objectives and a¢tivities Objectives The objectives of The Palatlne Trust are: to preseNe, protect and improve buiklings of historic environmental and architectural interest in and around Ffjllough, Co. Down" and the arrangement and provision of exhibitions, meetings and other leisure time activities in relation to works of art, craft 9océs, antiques, second hand goods. bygones and artrfacts generally. Achievements and perforniance The directors of the Palatine Trust provided historical and archrtectural tours of lfjllough durtng the European Heritage Open Days and organised an exhibition of the history of the village during "Killough Shore Festival" The directors also provided advice on the repair of St. Anne's Parish Church which was built at the beginning of the 19th century and is the most significant historic building in the village. The directors also assisted raising grants for the church for this repair work. Financial Rèview Financial Resufts for2022 The results for the year are set out on page S. (2>
The Palatine Trust Acom an limited b uarantee ort of the trustees inco oratin for the ear ended 31 December 2022 the directors. re Statement of trustees. responsibilities The trustees (who are also directors of The Palatine Trust for the purpose of company law) are responsible for preparing the Trustees, Annual Report and financial statements in accordance with applicable law and United lQngdom General Aixepted Accounting Prdctice. Company law requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charitsble company and of the incoming resources and application of reSoUrs, including the income and expendrture, of the tharitable company for that period. In preparing these financial statements, the trustees are required to:_ select suitable accounting policies and then appty them consistently. observe the methods and principles in the Charities SORP., make judgements and estimales that are reasonable and prudent, state wthether appliable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and wthich enable to ensure that the financial statements comply with the Companies Act 20(. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregulartties. Small Company Exemptions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. On behalf of the board Finbar McComiid( Secretary J- Date: 26 Juty 2023 (3)