Company Registratlon Number: N1042580
Charlty Number: 104712
North Atlantic Salmon Fund (Nl)
IA wmpany Ilmited by guarantee, not having a sharè ¢apital}
Annual Report and Unaudited Financial Statements
for the financial year ended 31 March 2025

North Atlantic Salmon Fund (Nl)
IA company limited by guarantee, not having a sharé capital)
CONTENTS
Pago
Trustees, and Other Information
Trustees, Annual Report
Statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-13
Supplementary Infomiation relating to the Financial Statements
15

North Atlantic Salmon Fund (Nl)
{A company Ilmitèd by guarantee. not having a share capltall
TRUSTEES. AND OTHER INFORMATION
Trustees
Mr Samuel John McBride
Ms Madeline Kelly
Mr Robert James Haughey
Mr Robert Francis Marshall
Mr Gary William Houston
Company Secretary
Mr Paul Moore Johnston
Charity Number In Northern Ireland
104712
Company Registration Number
N1042580
Reglstered Office
Garvey Studios
14 Longst()ne Street
Lisburn
Co Antrim
BT28 1TP
Northern Ireland
Independent Examiner
Mccleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
United Kingdom

North Atlantic Salmon Fund (Nl)
IA company limited by guarante•, not having a share capital)
TRUSTEES, ANNUAL REPORT
for the financial year ended 31 March 2025
The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the
unaudited financial statements for the financial year ended 31 March 2025.
The financial statements are prepared in accordance with the Companies Act 2006. FRS 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their financial slalemenls in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021-
The Trustees, Report contains the infom)alion required to be provided in the Trustees, Annual Report under the
Statement of Recommended Practice ISORPI guidelines. The Iruslees of the charity a￿ also charity trustees for the
purpose of charity law and under the chariws conslilulion are known as members of the board of trustees.
In this report the trustees of North Atlantic Salmon Fund (Nl) present a summary of its purpose, governance,
activities, achievements and finances for the financial year 31 March 2025.
The charity is a registered charity and hence the report and results are presented in a form which complies with the
requirements of the Companies Act 2006 and, although not obliged to comply with the Slalemenl of Recommended
Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented ils
recommendations where relevant in these financial slalemenls.
Mission, Objectives and Strategy
Mission Statement
The North Atlantic Salmon Fund (Nl) was formed to further the cause of the conservation of wild Atlantic salmon. One
of the primary means of doing this was to contribute lo the retirement of salmon netting which has been done on a
considerable level in the past.
The overall conseivation status of the wild Atlantic salmon in Northern Ireland at present is poor and the fishery
authorities have taken widespread conservation measures to reduce exploitation of the species. This has included the
cessation of all netting.
In addition, research into the lrfe 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
reasonable 8t present. The problem centres on the lack of reluming adults from sea to the rivers lo spawn.
In this scenario. we find 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 fish is not sensible as il is likely that many nels mon
who are of pensionable age are unlikely to return to the activity if and when netting is again permitted.
Therefore. al present our situation is best served by retaining the monies garnered to date in the expectation that at
some point in the future when circumstances Change. we can resume our core activities
Govemlng document
The charity is Controlled by its governing document, a deed of trust, and constitutes a limited company. limited by
guarantee, as defined by the Companies Act 2006.
Financial Review
The results for the financial year are set out on page 8 and additional notes are provided showing income and
expenditure in greater detail.
Financlal Results
At the end of the financial year the charity has assets of £36,561 12024 - £36.499) and liabilities of £375 {2024
£355). The net assets of the charity have increased by £42.
Reserves Position and Policy
The Trustee's are to review the level of unrestricted reserves, that it is appropriate to hold taking aeKount of the
current and ongoing commilmenls.11 is the policy of the Trustees to hold at least three months expenditure.

North Atlantic Salmon Fund (Nl)
IA company Ilmlted by guarantee, not having a share capital)
TRUSTEES. ANNUAL REPORT
for the financial year ended 31 March 2025
TTUStee$
The trustees who served throughout the financial year, except as noted. were as follows..
Mr Samuel John McBride
Ms Madeline Kelly
Mr Robert James Haughey
Mr Robert Francis Marshall
Mr Gary William Houston
The secretary who seNed during the financial year was..
Mr Paul Moore Johnslon
Compliance with Sector-wide Legl$lation and Stsndards
The charity engages pro-actively with legislation. standards and codes which are developed for the sector. North
Atlantic Salmon Fund INI) subscribes to and is compliant with the following-
The Companies Act 2006
The Charities SORP IFRS 102)
Approved by the Board of Trustees on 19 June 2025 and signed on Its behalf by..
Mr Samue
Trustee
n McBride

North Atlantic Salmon Fund (Nl)
IA company limited by guarantèè. not having a share capital)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
for the financial year ended 31 March 2025
The trustees, who are also directors of North Atlantic Salmon Fund (Nll for the purposes of company law, are
responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the Iruslees as the directors to prepare financial statements for each financlal year. Under that
18W the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally
Accepted Accounting Practice {Uniled Kingdom Accounting Standards and applicable law) including FRS102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees musl not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of
the charity and of the net income or expenditure of the charity for that period.
In preparin9 these financial statements. the trustees are ￿qUired to:
select suitable accounling policies and apply them consistently..
make judgements and estimales that are reasonable and prudent..
state whether the financial statements have been prepared in accordance with the relevant financial reporting
framework, identify those standards. and note the effect and Ihe reasons for any material departure from those
standards,. and
prepare the financial statements on the going concem basis unless It is inappropriate to presume that the charity
will continue in operation.
The trustees confim that they have complied with the above requirements in preparing the financial slalemenls.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charity's transaGtion5 and disclose with reasonable accuracy at any time the financial position of the charity and
enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by the Board of Truslees on 19 June 2025 and signed on Its behalf by.,
amu
Tru$teo
cBride

North Atlantic Salmon Fund (Nl)
IA company Ilmited by guarantee. not havlng a shar• capital)
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF NORTH ATLANTIC SALMON FUND (NI)
I have examined the financial statements of the charity for the financial year ended 31 March 2025, which comprise
the Slalement of Finanaal Activities lincorporaling an Income and Expenditure Account). the Balance Sheet and the
related notes.
Respective responsibilities of trustees and exarniner
The charity's trustees (who are also the directors of the Company for the purposes of company law) are responsible
for the preparation of the financial slalements in accordance with the Tequiremenls of the Companies Act 2006. The
charity's trustees consider Ihat an audit is not required for this financial year under Chapter 3 of Part 16 of the
Companies Act 2006 and that an independent examination is required.
It is my responsibility to:
examine the financial statements under section 65 of the Charities Act.
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland
under section 65{9){b) of the Charities Act.. and
state whether particular matters have come to my attention.
Basis of independent examinerfs report
I have examined your charity financial statements as required under section 65 of the Charities Act and my
examination was carried out in accordance with the general Directions given by the Charity Commission for Northem
Ireland under section 65{91(bl of the Charities Act. An examination includes a review of the accounting records kept
by the charity and a comparison of the financial statements presented with those records. 11 also includes
consideration of any unusual items or disclosures in the ffnancial statements and seeking explanations from the
trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be
required in an audit and consequently no opinion is given as to whether the accoLtnls present a 'true and fair. view
and the report is limited to those mallers set out in the statement below.
In connection with my examination, no matter has corne to my attention which gives me cause to believe that in. any
material respect..
accounting records were not kept in accordance with section 386 of the Companies Act 2006
the financial statements do not accord with those accounting rewrds
the financial statements have not been prepared in accordance with the accounting requirements of section 396 of
the Companies Act 2006 and with the rnelhods and principles of the Statement of Recommended Practice
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS1021
there is further infomialion needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have no concems and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order lo enable a prop8r understanding of the financial statements lo be reached.
Elizabeth Chambers FCA
MCCLEARY & COMPANY LTD
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
United Kingdom
Date: 19 June 2025

North Atlantic Salmon Fund (Nl)
IA eompany limited by guarantèè. not having a share capltall
STATEMENT OF FINANCIAL ACTIVITIES
{Ineorporating an Income and Expènditure Account)
for the financial year ended 31 March 2025
Unrestri¢tgd
Funds
2025
Total Unreslricled
Funds
Funds
2025
2024
Total
Funds
2024
Notes
Income
Donations and legacies
Investments
534
92
534
92
414
92
414
92
Total income
626
626
506
506
Expendlture
Charitable activities
584
584
444
444
Net In¢omel(expenditure)
42
42
62
62
Transfers between funds
Net movement in funds for the finan¢ial year
42
42
62
62
Reconciliation of funds:
Total funds beginning of the year
36,144
36.144
36,082
36,082
Total funds at the end oflhe year
36,186
36,186
36.144
36,144
The Ststement of Financial Activities includes all gains and losses recognised in the financial year.
All incorne and expenditure relate to continuing activities.
The notes on pages 10 to 13 form part of the financial stat8ments

North Atlantic Salmon Fund {Nl)
IA company limited by guarante•. not having a share capital)
Company Number.. N1042580
BALANCE SHEET
as at 31 March 2025
2025
2024
Notes
Current Assets
Cash at bank and in hand
36,561
36.499
Creditors." Amounts falllng due withln one year
1375)
13551
Net Curront Assets
36,186
36.144
Total Assets less Current Liabilities
36,186
36,144
Funds
General fund (unrestricted)
36,186
36,144
Total funds
36.186
36,144
These financial statements have been prepared in accordance with the special provisions relating lo small companies
within Part 15 of the Companies Act 2006.
For the financial year ended 31 March 2025 the chartly was entilled to exemption from audit under section 477 of the
Companies Act 2006., and no notice has been deposited under section 476.
The trustees confirm that the members have not required the company to obtain an audit of ils financial slalements for
the financial year in question in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply
with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the
charity as at the end of the financial year and of its profit and loss for the financial year in accordance with the
requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006
relating to financial statements, so far as applicable to the charity.
Approved by the Board of Trustees and authorised for issue on 19 June 2025 and slgned on its behalf by
mue
Trustee
n MsBrid
The notes on pages 10 10 13 form part of the financial statements

North Atlantic Salmon Fund (Nl)
IA company Ilmltèd by guarantee, not havlng a share Capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
GENERAL INFORMATION
North Atlanlic Salmon Fund {Nl) is a cornpany limited by guarantee incorporated in Northern Ireland. The
registered office of the charity is GaNey Studios, 14 Longstone Street. Lisburn, Co Anlrim, BT28 1TP.
Northern Ireland. The financial slalements have been presented in Pound 1£) which is also the functional
currency of the charity-
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistenlly in dealing with items which are considered
material in relation to the charity's financial statements.
Basis of preparatlon
The financial slalemenls of the ¢harity, which is a public benefit entity, have been prepared on the going
concern basis under the historical cost convention. modified to include certain items at fair value. The financial
statements have been prepared in accordance with the Slatemenl of Recommended Pra¢li¢e ISORPI
"Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
standard applicable in the UK and Republic of Ireland FRS 102..
As pennilted by the Companies Act 2006. the charity has varied the standard formals in that act for the
Stalement of Financial Activities and the Balance Sheet. Departures from the standard formals are lo comply
with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that
SORP.
Statément of compliance
The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the
going concern basis and in accordance with the Statement of Recommended Practice {SORPI "Accounting
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland FRS 102..
Cash flow statement
The charity h8S 8V8iled of the exemption in FRS 102 from the requirement lo produce a cash flow statement
because it is classified as a small charity.
Fund accounting
The following are the categories of funds maintained..
Unrestrlctèd funds
Unrestricted funds ¢onsisl of General funds.
General funds represent amounts which are expendable at the discretion of the board, in furtherance of the
objectives of the charity.
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally
entitled to the income, performance conditions attached to the ilem{s} of income have been met. the amounts
involved can be measured with sufficient reliability and it is probable that the income will be received by the
charity.
Expenditure
Expenditure is analysed between costs of charitable actlvilies and raising funds. The costs of each activity are
separately accumulated and disclosed, and analys8d according lo their major components. Expenditure is
recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic
benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs
are those functions that assist the work of the charity but cannol be attributed lo one activity. Such costs are
allocated to activities in proportion lo staff time spent or other suitable measure for each activity.
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of
withdrawal.
10

continued
North Atlantic Salmon Fund (Nl)
IA ¢ompany Ilmited by guarantee, not having a share capltall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
Taxation and deferred taxatlon
No currenl or deferred taxation arises as the ¢harity has been granted charitable exemplion. Irrecoverable
valued added lax is expensed as incurred.
INCOME
DONATIONS AND LEGACIES
Unrestrlcted Rostricted
Funds
Funds
2025
2024
Donations and legacies
534
534
414
INVESTMENTS
Unrestricted Rostricted
Funds
Funds
2025
2024
Investments
92
92
92
EXPENDITURE
CHARITABLE ACTIVITIES
Dlrect
Costs
other
Costs
Support
Costs
2025
2024
Expenditure on charilable acliviles
584
584
444
SUPPORT COSTS
Charitable
Activities
2025
2024
Accountancy
Bank charges
554
30
554
30
414
30
584
584
444
ANALYSIS OF SUPPORT COSTS
Basis of
Apportionment
2025
2024
Accountancy
Bank charges
554
30
414
30
100¥0
584
444
INVESTMENT AND OTHER INCOME
2025
2024
Bank interest
92
92
CREDITORS
Amounts falling due within one year
2025
2024
Accruals and deferred income
375
355
11

continued
North Atlantic Salmon Fund (Nl)
IA company limited by guarantee, not having a shar• ¢apitsll
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
RESERVES
2025
2024
At the beginning of the year
Surplus for the financial year
36,144
42
36.082
62
At the end of the year
36.186
36,144
FUNDS
RECONCILIATION OF MOVEMENT IN FUNDS
Unrestrlcted
Funds
Total
Funds
At 1 April 2023
Movemenl during Ihe financial year
36,082
62
36.082
62
At 31 March 2024
Movement during the financial year
36,144
42
36,144
42
At 31 March 2025
36,186
36,186
ANALYSIS OF MOVEMENTS ON FUNDS
Balance
1 April
2024
Income Expenditure
Transfers
between
funds
Balan¢e
31 March
2025
Unrestricted funds
Unrestricted General
36,144
626
584
36.186
Total funds
36,144
626
584
36,186
ANALYSIS OF NET ASSETS BY FUND
Currgnt
assets
Current
liabilltles
Total
Unrestricted general funds
36.561
(375)
36.186
36.561
{3751
36.186
10.
STATUS
The charity is a company limited by guarantee not having a share capital.
11.
TRUSTEES. REMUNERATION
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year
ended 31 March 2024.
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March
2024.
12.
RELATED PARTY TRANSACTIONS
There were no related paty transactions for the year ended 31 March 2025.
12

continued
North Atlantic Salmon Fund (Nl)
{A ¢ompany limited by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
13.
POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
13

NORTH ATLANTIC SALMON FUND
Nl
IA company limited by guarantee. not having a share capltall
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
14

North Atlantic Salmon Fund (Nl)
(A eompany limited by guarantè•, not having a share capltall
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
Operating Statement
for the financial year ended 31 March 2025
2025
2024
Income
534
414
Expenses
Accountancy
Bank charges
554
30
414
30
584
444
Miscellaneous income
Bank interesl
92
92
Net surplus
42
62
The supplementary infomialion does not form part of the financial statements
15