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
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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 De￿rnber 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 part￿lar , 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.
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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 reSoUr￿s, 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
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