Charity Registration No. NIC102897
Company Registration No. N10332611Northern Ireland)
The Palatine Trust
Company Limited by Guarantee
Trustees. Report & Unauditsd Accounts
Year Ended 31 December 2023

THE PALATINE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER2023
Contents
page
Members of the board and professional advisors
(1
Directors annual report
{2) 13)
Independent examiners report
(4)
Statement of financial activrties
Balance sheet
(6) (7)
Notes to financial statements
18) {12)

THE PALATINE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
Trustees
James Conlon
Barry Mulqueen
Kieran Keville
Finbar Mccormick
Helen Hossack
Secretsry
Finbar Mccorniick
Charty number
NIC102897
Company number
N1033261
Reglstered office
2 William Street
Newlownards
8T23 4AH
Accountants
Guardian Chartered Accountsnts
2 William Street
Newtownards
BT23 4AH
Buslness addresg
38 Castle Street
Killough
Downpatrick
BT30 7QQ
Bankers
Ulster Bank Ltd
218 Market Street
Downpatrick
BT30 6BU
Solicitors
Cleaver, Fulton & Rankin
50 Bedft)rd Street
Belfast
BT5 7FW
(1)

The Palatine Trust
Acom
an
limited b
uarantee
ort of the trustees
inco
oratin
for the
ear ended 31 Oecember 2023
the directors, re
The trustees present their report and the financial statements for the year ended 31 De￿rnber 2023.
The accounts have been prepared in accordan￿ with the accounting policies ￿1 out in note 1 and comply
with the charivs governing dlxument, the Companies Act 20C6 an 'Accounting and Reporting by Charities:
statement of Recommended Practice applicable to Charities preparing their accounts in accordan￿ 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 governed by its Memorandum and Artrcle of Association. The company is not for profit
and limited by guarantee.
Man8g8ment
The company is managed by a board of fNe Tnjstees who meet regularly to discuss the current and future
activities of the organisation.
Financial Controls
The directors feel that there are sufficient controls in the company to allow it to operate effectively. The
reporting requirements for each funder are maintsined and controlled effectively.
Risk Review
The directors have assessed the major risks to which the charity is exposed, in particular , those risks
related to the operations and finances of the company and are satisfied that the systems are in pla￿ to
mitigate our exposure to the major risks.
Objectives and activitles
Objectives
The objectives of The Palatine Trust are". to preserve, protect and improve buildings of historic environmental
and architectural interest in and around Killough, Co. Down. and the arrangement and provision of exhibitions,
meetings and other leisure time activities in relation to works of art, craft goods, antiques, second hand
goods, bygones and artifact5 generally.
Achievements and perforniance
The Palatine Trust provided historical and architectural tours of Killough during the European Heritage
Open Days. Restoration works on listed building St Anne's Parish Church were also completed. Directors
of The Palatine Trust have been actively engaged in this project.
Financial Review
Financial Results for 2023
The results for the year are set out on page S.
12)

The Palatine Trust
Acom
an
limited b
uarantee
ort of the trustees
inco
oratin
for the
ear ended 31 December 2023
the directors. re
ststement of trustses. 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 accordan￿ with
applicable law and United Kingdom General A￿pIed Accounb'ng Practi￿.
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 charitable company and of the incoming reSoUr￿S and
application of resources, including the income and expendtture, of the charitable company for that period.
In preparing these financial statements, the trustees are required to-_
select suitable accounting policies and then apply them consistently,.
observe the methods and principles tn the Charities SORP:
make judgements and estimates that are reasonable and prudent"
state whether 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 rt 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 posttion of the charitable company and which enable to ensure that the financial
ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
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 Mccormick
Secretary
Date:
05 August 2024
(3)