THE PALATINE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2023
Unresiricted
Funds
Totsl Funds
2023
Total Funds
2022
Note
Incoming Resources
Activities for generating fiJnds-
Interest Re￿1vable
139
139
40
Total Incoming Rèsources
139
139
40
Resources Expended
Resources expended on furtherance of the Charitys objects
Resources expended on managing and administering the charity
1.257
1,257
1,163
Total Resources Expended
1,257
1.257
1,163
Net Movement in Funds for the year
(1,118)
(1.118)
(1,123)
Total Funds Brought FoTward
19,202
19,202
20,325
Total Funds Carried Forward
18,084
18,084
19,202
The chariiy has no recognised gains or losses other Ihan the results for the
year as set out above
Ail income and expenditure derive from continuing activities
The statement of financial activities also complies with the reqU1￿ments of an income and expenditure account
under the Companies Act 2006

THE PALATINE TRUST
BALANCE SHEET AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed Assets
Tangible Assets
936
1,041
Current Assets
Projects in Progress
Cash in Bank and in Hand
19,196
19,196
19,071
19,071
Creditors: Amounts falling due within one year
(2,048)
(910)
Net Current Assets
17,148
18,161
Total Assets less Current Llabilities
18,084
19,202
Net Assets
18,084
19,202
Represented By:
Restricted Funds
11
18.084
19,202
The directors, statements ￿qUired by Sects'on 475(2) and {3) are shown on the following page
which fomis part of this Balan￿ Sheet.
(6)

The Palatine Trust
Balance ShÈet
continued
Dire¢tOf5' Ststements required by Section 475{2) and13)
for the year ended 31st December 2023
In approving these finanaal statements as directors of the company we hereby confirm:
(a)
that for the year stated above the company was entitled to the exemption conferred by Sedion 477
of the Companies Act 2006.
(b)
th2t no notice has been deposited at the registered Offi￿ of the company pursuant to Section 476
requesting that an audit be conducted for the year ended 31st December 2020; and
(c)
that we ackn¢)wledge our responsibilibes for..
(1)
ensuring that the company keeps a¢countin9 records which comply with Section 386.,
and
(21
preparing finan¢Éal statemerrts which give a true and fair view of the state of affairs of the
company as at the end of the financ4al year and of rls profit or loss for the year then
ended in accordan￿ with the requirements of Section 393 and which otherwise comply
with the provisions of the Companies Act 2006 relating to financial statements, so
far as applicable to the company.
These accounts have been prepared in accordance viith Ihe provisions applicable to COTnpanies subject to the
small companies regime.
The financial statements were approved and authorised for issue by the Board on the 5 Au9USt 2024
and are signed on their behalf by..
y.L.
Finbar McCoTmick
Director
Registrdtion No: N1033261

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
Note 1
Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention and in
accordan￿ with the Statement of Recommended Practi￿ Accounting and Reporting
by Charities" (FRS102), the Companies (Northem Ireland) Order 2006 and in
accordan￿ wrth 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 statements have been prepared on a going concern basis which assumes
that the company will continue in operatsonal existen￿ for the foreseeable future. The
validity of this assumption depends upon continued support of various agencies.
Cash flow statement
The directors have tsken advantage of the exemption in Financial Reporting Standard
No.1 (revised) from including a cash flow statement in the financial statements on the
grounds that the charty is small.
Income
Income comprtses grants received and receivable together with other sundry revenues.
Grants
Grants received, including grants for the purchase of fixed assets, are recognised in full
in the statement of financial acbviknes in the year in which they are receivable.
Other incomlng resources
Incoming reSoUr￿S including investment income are credited to the statement of
financial acb'vities when re￿1Vable.
Resources expended and apportionment
Resources expended are recognised in the period in which they are incurred.
The majority of costs are directly attributable to specrfic activities.
Management and administrats'on costs comprise expenditure incurred itself as an
organisation.
Deprèciation
Depreciation is calculated so as to write off the cost of the assec less its estimated
residual value, over the useful econornic life of the asset as folli)ws:
Killough Yawl..
Fixtures & EquipmenL
Exhibition Items=
100A reducing balance
20'h reducing balan
20% reducing balance
{8}

Note 1
Accounting Policies
(continued)
Foreign currencies
The company has had no transactions in foreign currencies.
Fund accounting
The charity has different types of funds for which rt is responsible. and vthich require
separate disclosure. These are as follows..
Restricted funds
Grants received which are earynarked by the grantor for specific purposes. Such
purposes are within the overall aims of the organisation
b. Unrestricted funds
Funds which are expendable at the discretion of the directors in the furtheran￿ of the
objects of the charity. In addition funds may be held in order to finance capital
investment and working capital.
For the present the Charity's policy is to hokl all funds as restricted.
Note 2
Investment income
Total Funds
2023
Total Funds
2022
Bank interest received
139
40
139
40
Note 3
Costs in furtherance of charltable objectives
Totsl Funds
2023
Total Funds
2022
Repairs to Kinder House
Repair to Killough C.C.
Projects ￿Mpleted
(9)

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
Note 4
Resources expended on managing and administering the charty
Total Funds
2023
Total Funds
2022
Office Costs
Accountancy Fees
Sundry Expenses
Bank charges
Depreciation
1.138
1,030
14
105
16
117
1,257
1,163
Note 5
Total Resources expended
Depreciation Other Costs Total Funds Total Funds
2023
2022
Direct charitable expenditure
Management and administration
105
1.152
1,257
1.163
105
1,152
1,257
1,163
The Trustees did not receive any remuneration or reimbursement of expenses for the year (2022 - £nil).
{10)

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
Note 6
Net movement of funds in the year
Net movement of funds is stated after charging..
2023
2022
Depreciation
105
117
Note 7
Tangible fixed assets
Killough Fixtures Exhibition
Yawl
& Equip
Items
Total
Cost
Balan￿ l JanLJary 2023
Balance 31 December 2023
10.430
10,430
7.470
7,470
6,759
6,759
24,659
24,659
Depreciation
Balan￿ 1 January 2023
Charge for year
Balance 31 December 2023
9.620
81
9.701
7,248
22
7,270
6,750
23,618
105
23,723
6,752
Net book value
At 31 December 2023
729
200
936
At 31 December 2022
810
222
1,041
Note 8
Amounts falling due within one year
2023
2022
Other creditors
Accruals
1,128
910
2,038
910
910
111)

THE PALATINE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
Note 9
Statement of Funds
Balan
Incoming
at 01101123 Resources
Expenditure
Balan
at 31112123
Lottery Fund
Down District Council
D.O.E.
Other
97,814
59,623
24,543
(162,778)
97,814
59,623
24,543
(163,896)
139
1,257
Unrestricted Funds
19,202
139
1,257
18,084
The opening balan￿ on the lottery fund includes sundry other grants.
Note 10 Analysis of Net Assets
Tangible
Other
Fixed Assets Net Assets
Total
Unrestricted Funds
936
17,148
18,084
Note 11 Contingencies
The company has a contingent liability to repay grants received should certain conditions under which
they were awarded cease to be fulfilled.
Note 12 Company limited by guarantee
The company is limited by guarantee not having a share capitsl. The liability of each of the members
is limited to £1.
112)