North Atlantic Salmon Fund (ND Report of the Trustees for the Year Ended 31 Mareh 2023 The Trustees who are also directors of the charity for the purpose of Companies Act 2006, present their report and financial statements for the year ended 31 March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, in preparing the annual report and financial ststements of the charity. OBJECTIVES AND ACTIvrfIES Review of year The North Atlantic Salmon Fund (NI) was forn]ed to further the cause of the conservation of wild Atlantic salmon. One of the primary means of doing this was to contribute to the retirement of salmon netting which has been done on a considerable level in the past. The overall conservation status of the wild Atlantic salmon in Northem Ireland at present is poor and the fishery authorities have taken widespread conservation measures to reduce ¢xploitation of the species. This has included the cessation of all netting. In addition, research into the life cycle of wild Atlantic salmon across its range in north-west Europe indicates that there are problems with sea survival, in many countries. The production of juvenile salmon in rivers appears to be re&onable at present. The problem centr¢5 on the lack of retuming adults from sea to the rivers to spawn. In this scenario, we fmd ourselves in a position where expenditure of monies available is not the best use of resources, in that conservation measures in freshwater can do nothing to address the central problem of poor sea survival. The buyout of nets which presently are not permitted to flsh is not sensible &5 it is likely that many nets men who are of pensionable age are unlikely to return to the actlvlty if and when netting is again pennitted. Therefore, at present our situation is best served by retaining the monies garnered to date in the ¢xpectation that at some point in the future when circumstances change, we can resume our core activities. FINANCIAL REVIEW Financial review The main source of income at present is bank interest, 2023 £89 (2022 - £101). Expenditure in year was £408 (2022 - £388) Reserves policy The Trustee's are to review the level of unrestricted reserves, that it is appropriate to hold taking account of the current and ongoing Commitments. It is the policy of the Trustees to hold at least three months expenditure. At the end of the Ye unrestricted reserves were £36,082 (2022 - £35,669). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document. a deed of trust, and constitutes a limited ¢ornpany, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AIW ADllllNISTIi4TIVE DETAILS Registered Company number N1042580 (Northern Ireland) Registered Charity number 104712 Page I
North Atlantic Salmon Fund (ND Report of the Trustees for the Year Ended 31 March 2023 Registered office Garvey Studios 14 Longstone Street Lisbum Co. Antrim BT28 ITP Trustees Mr Samuel John M¢Bride Ms Madeline Kelly Mr Robert James Haughey Mr Robert Francis Marshall Mr Gary William Houston Company Seeretary Mr Paul Moore Johnston Independent Examiner Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Approved by order of the board of trustees on 14 Decembcr 2023 and signed on its behaIf by: Mr Sam L,ffohn M¢Bride - Trustee Page 2