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
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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
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