Macauleysmyt
Professional l Reliable l Approachable
MPANY REGISTRATION NUMBER N1057350
Chartered Accountants
ALTNAVEIGH HOUSE TRUST (2005) LIMITED
FINANCIAL STATEMENTS
31 DECEMBER 2023
Charity Number NIC105050
MACAULEY SMYTH
nhartered Accountants
20A Upper Water Str￿t
Newry
BT34 1 DJ
20A Upper Water Sl
Newry
Co. Do
BT34 1DJ
T.. IY28 30 ￿11
F.. 028 30 251 746
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VAT FbJ. No 978 1x3 79
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ALTNAVEIGH HOUSE TRUST (2005) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CONTENTS
PAGE
Trustees Annual Report
Statement of Financial Activities (incorporating the income
and expenditure account)
Balance sheet
Notes to the financial statements
The following pages do not form part of the financial ststements
Detailed statement of financial activities
16

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
The trustees present their report and the unaudited financial statements of the charity for the year
ended 31 DeCeM￿r 2023.
REFERENCE AND ADMINisfRATIVE DETAILS
R￿15￿￿ dj charity name
Altnaveigh House Trust (2005) Limited
Charity roistration numb
NIC105050
CompaDy r￿l￿tratIOn numb
N1057i50
R￿lsterd1 office
51 Down5hire Road
Newry
Co. Down
BT34 1 EE
THE TRusfEES
The trusiees who served the charity during the period were as follows:
Mr. A. G. Russell
Mr. J. H. Thompson
Mr. W. Hanna
Mrs. M. Nummy
Mr. W Glendinning
rdgry
William Hanna
Accountants
Macaulev Smyth
Chartered Accountants
20A Upper Waier Street
Newry
BT34 1 DJ
RUCTURE,GOVERNAIYCE AND MANAGEMENT
The charitv is a company limited bv guarantee. having a board of directors (trustees) who are
responsible for the etTicieni execution of its charitable objects.
OKIECTIVESAND ACTIVITIES
The charit). has been esiablished to construct and maintain a community resource facility located al
Downshi￿ Road, Newry.
ACHIEVEMENTSAND PERFORMANCE
In the period under review. the charity. continued io make it's COTnmunity resource facility available to
a diverse range of stakeholders. including local community groups and organisations.
FINANCIAL REVIEW
The charily's core rental activity realised a profit of £1,810.
The uncertainty SU￿O￿nd]ng the charity's Sister organisation. Altnaveigh House Limited, continues to
cast a shadow over the organisalion's finances.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
TRUSTEES ANNUAL REPORT (continuéd)
YEAR ENDED 31 DECEMBER 2023
PLANS FOR FUTURE PERIODS
The Board is pleased that the organisaiion continues to recover from the negative effects of the Covid
pandemic. However, it is unfortunaie ihat a number of comrnunily groups have not returned to make
use of the facilities. We iyere again grateful for the financial support of the Execuiive Office allowing
us 10 develop g(M)d relations opponunities wilh several like-minded community groups and local
schools.
series of go(K1 relalions workshops and two Studv trips allowed the charity to again
establish ilself as an imw)rtant shared space within the community. All necessary repairs and
maintenance projecis ivere compleied alihough the increases in core costs, especially fuel and
electricity., put a burden on all but essential work. A grant of £IO.000 from the Council allowed the
charit! to completely refurbish the kitchen in the Front House and it is hoped to Continue ihis work
Ihrouahout the building in the future as finance becomes available. The charity will continue to seek
oui opportunities 10 improve ils position as a leader in shared community experiences and iraining.
RESPONSIBILITIESOFTHE TRu￿EEs
The irustees (who are also the directors of Alinaveigh House T￿$1 {?005) Limited for the purposes of
company laiv) are responsible for preparints the Trustees Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounlints PrdCtice)-
Company law requires the trustees to prepare financial statements for each financial year which give a
true and fair view of the state of affairs of the chariiable company and of the incoming resources and
application of resources. including the income and expendiiure, of the charitsble company for that
period. In preparing these financial siatements, the trustees are required to:
select suitable accounting ￿lIcI¢S and then apply them con5lStently;
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudeni.
state whether applicable UK Accounting Standards have been followed. subject to any material
departures discloscd and explained in the financial sthtements;
prepare the financial staiemenis on ihe goin2 concern basis unless it is inappropriate to presume
thai the chariiable company will continue in operation.
The trustees are responsible for keeping proper accounting records thai disc105e with reasonable
accuracv at any time the financial posilion of the charitable company and enable them to ensure that
th¢ financial statements complN' wilh the Companies Act ?006. The trustees are also responsible for
safeguardino the assets of the charitable company and hence for taking reasonable steps for the
prevention and deteciion of fraud and other irregularities.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
TRUSTEES ANNUAL REPORT(continued)
YEAR ENDED 31 DECEMBER 2023
Regisiered office:
51 Downshire Road
Newry
Co. Down
BT34 IEE
Signed by order of the trnstees
WILLIAM HANNA
Charity Secrelary
23 September 2024

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE
INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 DECEMBER 2023
Total Funds Total Funds
2022
INCOMING RE￿URcEs
Incoming resources from generating fun(ts:
Activitie5 for generatino funds
Grant funding
Renial income
39,192
16,(MN
76,IXV)
35,318
15,605
76,136
TOT AL INCOMING RE￿URcEs
131,201
127,059
RE￿uRCE5EXPENDED
Costs of generating fund5:
Fundraising trading= cost of goods sold and other costs
Chariiable activities
{4617)
{1¥774)
(129,391)
1,810
(3,213)
(98,(K17)
(101,220)
516
TOT AL RES)URCES EXPENDED
NET OUTGOING RE￿)uRCEs FOR THE YEAR
Other gains;'losses
NET MOVEMENT IN FUNDgNET EXPENDITURE FOR THE
YEAR
RECONCILIATION OF FUNDS
Total funds brouuhi forward
TOT AL FUNDSCARRIED FORWARD
1,810
567,684
541,845
569,494
567,684
The Statement of Financial Activities includes all gains and losses in the year and therefore
a siatemeni of tothl recognised gains and losses has not been prepared.
All of the above amounis relate to continuing activities.
The notes on pages 7 to 14 fomi part of th9$0 financial statemonts.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
BALANCE SHEET
31 DECEMBER 2023
2023
2022
Notè
FIXED ASSETS
Tangible assets
Investmenis
10
650,fKM)
650,000
65QIMM)
650,000
CURRENT ASSETS
Stocks
Debiors
Cash at bank
11
12
1,000
12,343
45.137
5Q738
CREDITOR& Amountsfalling duewithin one
year
13
(78,494)
(88,(M6)
NET CURRENT LIABILITIES
(27,756)
{29,566}
TOTAL ASSETS LESSCURRENT LIABILITIES
621241
6W
CREDITOR&" Amountsfalling due21ter more
than oneyear
14
(51750)
569,494
(5?.750)
567,684
NET A￿Ts
FUNDS
UNREsfRICTED INCOME FUND&
Unrestricted income funds
Revaluation reserve
15
15
769,999
(2￿505)
769,999
(201315 )
567,684
TOT AL UNRE￿RICTED INCOME FUNDS
TOT AL FUNDS
569,494
569,494
567,684
For the year ended 31 December ?0?3 ihe company was entitled to eXeM￿lOn under Section 477 of
the Companies Aci 2006 relating to small companies.
No members have required the company to obt3in an audit of its accounts for the year ended 31
December 202) in accordance th'ith seclion 476 of ihe Companies Act ?006.
The trusttts acknowledge their responsibility for complying with the requirements of the Act with
respect to accounting records and for the prepardtion of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject
to the small companies retsime.
The Balance sheet continues on the following page.
The notes on pagès 7 to 14 fomi part of these financial statsments.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
BALANCE SHEET (contiftued)
31 DECEMBER 2023
These financial statements were approved by the
and are sii,ned on their behal
bers of the committee on the 23 September 2024
MR. A. G. RUSSELL
MR. J. H. THOMPSON
MR. W. HANNA
MRS. M. NUMMY
MR. W. GLENDINNING
Companj Registralion Number: N1057)50
The notes on pages 7 to 14 fomi part of these financial statemonts.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Basis of aeeounting
The financial slalements have been prepared under the historical cost convention. except for
investmenls which are included at market value and the revaluation of certain fixed assets, and in
accordance with applicable Uniled Kingdom accounting stsndards. the Statement of
Recommended Praciice "Accounting and Reporting by Charities" issued in March 2005 (SORP
2005) and the Companies Act ?006.
The cliarilv h&s been dependent upon the sUPPOrt of capital grdnt funders in providing finance to
conslrucl ihe communilJ' resource centre. However. the amount of grant funding awarded has
been InsU￿1Clent to meet the tolal costs of construciing and filling out the centre. Hence, in the
absence of the trustees being able lo source additional grant assistance. the Trust is now
dependent upon the availabiliiy of bank debi and loan creditors to be able to continue its
activilies. This is exhibited bj. the significani net cu￿ent liabililies position at the balance sheet
date.
The Directors hope ihis year to consolidate the debt of the company into one loan, which at
present is being neuotiaied.
Further to the closure of the community business the directors have taken steps to replace the
activities of the community business with oiher activiiies. A number of new tenants have been
secured, for example: British Red Cross. South Down Family Health Initiative. Paul Coulter
Filness.
The directors are seeking more lenants for the propety. It is also hoped that funding may be
Iyrade the computer suite to allow its use by the communiry and increase revenue
obtained to UP¥
for the charity.
While considering the uncertainties described above, the trustees have a reasonable expectation
thal ihe charity will have adequate resources to continue in operdtional existence for ihe
foreseeable fuiure. For these reasons. they continue to adopl the going concern basis in preparing
the annual report and accounts and these financial statements do nol include any adjustments that
would result from the going concern basis of preparation being inappropriate.
Cash floiv statement
The tNsiees have taken advantage of the exemption in Financial Reporting Standard No I
(revised) from including a cash flow statement in ihe financial statements on the grounds that the
charity is small.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTIIYG POLICIES IconliR*edJ
Donations and grnnts
Income from donations and grdnts, including capital grants. are included in incoming resources
when receivable. except as folloths:
When donors specify that donations and grants given to the company must be used in future
accounting periods. the income is deferred until those periods.
When donors impose conditions which have to be fulfilled before the charity becomes entitled to
us such income. the income is deferred and not included in incoming resources until the
preconditions for use have been mel.
When donors specifv ihat donations and tsrdnts. including capital grants. are for particular
purposes. which do not amouni io precondiiions regarding entitlemeni, this income is included in
incoming resources of restricied funds ivhen receivable.
The value of services provided by volunteers has not been included.
Capit21 grants
Capital grants are nol recoonised through the statement of financial activities. rather being
initiall). reco(Jnised as liabilities until the conditions of such grant funding have expired.
Capital granis received are released to the statement of financial activities in the ￿rIOd over
which the related capilalised assets are depreciated.
Commitments and use of designaled fund5
Designated funds are unrestricted funds eamarked by the trustees for particular purposes.
Resources expended
Resources expended are included in the siatement of Financial Activities on an accruals basis,
inclusive or any V AT which cannot be recovered.
Certain expendiiure is directly attribuiable to specific activilies and has been included in those
cost categorie5. Certain other costs. which are attribulable to more than one activity, are
apportioned across c05t categories on the basis of an esiimate of the proportiOT] of time spent by
staff on those aciivities.
Fixed a55ets
All fixed asseis are initially recorded al Cost.
Asseis under the course of construction are not depreciated unlil ihey are completed and brought
into economic use, al which point they are 1rnnsfe￿ed to the appropriate fixed asset heading.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ACCOUNTIIYG POLICI ES fcwiiR*edJ
Depreciation
Depreciation is calculated so as io write off ihe cost of an asset, less its estimated residual value,
over the useful economic life of that assei as follows:
Equipmeni
- over 10 years
Fixtures and fillings - over 10 years
Investment properties
An investment pro￿rty is an interest in land andlor buildings where the construction work and
development have been completed and ihe interest is held for its investmenl Potential, with any
renial income being negotiated ai arnis lenoth. Investment properties are held for the long tern)
with ihe overall intention of recognising income and capital growth for the charity. Investment
properties are included in the balance sheet at iheir open market value.
Deprecialion is noi charged on Investment properties as it is the current value of such properties
and changes lo those values thai are ihe key measures of perfonnance. This treatment may be a
departure from the requirements of the Companies Act concerning depreciation of fixed assets.
However. Ihose properties are noi held for consumption but for investment and the directors
consider thal 5y51emaTic annual depreciation would b¢ inappropriate. The accounting policy is,
therefore. necessary for ihe accounts to give a true and fair view.
The community resource centre has been recognised in the financial statements &s an investment
properly.
Stocks
Stocks are valued ai the lower of cosi and net realisable value, after making due allowance for
obsolete and slow moving items.
Fund accounting
Funds held by the charity are either-
Unrestricted general funds - these are funds which can be used in accordance with ihe charitable
objects at ihe discretion of the direclors.
Designated funds - these are funds set aside by the directotS Out of unrestricted funds for specific
future purposes or projecls.
Restricted funds - these are funds that can only be used for particular purposes wiihin the objects
of the charity. Restrictions arise when specified bJ' the donor or when fun(Ls are raised for
particular restricted pury)oses.

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS
Unrestricted Total Funds Total Funds
Funds
2023
2022
Fundraising income
Grant
Project funding
16.OIMb
39,192
16,IMIO
39,192
15.605
35J18
RENTAL INCOME
Unrestricted Total Funds Total Funds
Funds
2023
2022
Income t.rom UK investmenf properties
76.009
76,009
76,136
FUNDRAISIIYG TRADING: COST OF GOODS SOLD AND OTHER COSTS
Unrestricted Total Funds Total Funds
Funds
2023
2022
Fundraising costs
4,617
4,617
3,213
COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted Tolal Funds Total Funds
Funds
2023
2022
Community resource facilities
124,774
124,774
98,007
COSTS OF CHARITABLE ACTIVITIES BY AcfiviTY TYPE
Community
resource Total Funds Total Funds
facilities
2023
2022
Communily resource facilities
124,774
124,774
98,007
NET OUTGOING RESOURCES FOR THE YEAR
This is slated afier charging-
2023
2022
Depreciation
STAFF COSTS AND EMOLUMENTS
There were no salaries paid io employees, during the year.
10-

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
TANGIBLE FIXED ASSETS
Fixtures &
Fittings
Equipment
Total
COST
At l .lanuarv 2023
Additions
2,068
60,902
62,970
A131 December 2023
2,068
60,902
62,970
DEPRECIATION
At l janua￿ ?0?"
Charge for the year
At 31 De¢ember 2023
2,068
60,902
62,875
60,902
62,875
NET BOOK VALUE
At 31 December 2023
At 31 tkcember 2022
10. INVESTMENTS
Moi'ement in market value
2023
2022
Market value ai l January ?0?"
Net gains on revaluatiOT15 in the year ended 31 December 2023
Market value at i l December 202)
650,000
650,000
650,0(
650,000
Historical cost ai 31 December ?023
958,607
958,607
Analysis of investments at 31 December 2023 between funds
Total Funds Total Funds
2023
?022
Other inve5tment5
UK Investment Property
650,000
650,000
The charity's community resource centre is held in designated funds.
The market value of invesiment property/community resource centre owned by the Trust was
assessed by Mr lan Hall, Bsc (Hons) MRICS. of Hanna Hillen Estates on 16th June 2011.
Hanna Hillen Estates is a business in which Mr David Hanna, a related party of the Trust, 15
involved.
11

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
11. STOCKS
2023
2022
Stock
1,0
1,000
12. DEBTORS
2023
2022
Trade debiors
Other debtors
21,275
1,239
11,104
1,239
22,514
12J43
13. CREDITORS: Amounts falling due within one year
2023
2022
Bank loans and overdrafis
Oiher creditors
Accruals
50,804
25,500
2,190
61.226
25,500
lJ20
78,494
88,046
14. CREDITORS: Amounts falling due after more than one year
2023
2022
Bank loans and overdrafts
Other long lem loans
52,750
52.750
52,750
52,750
15. UNRESTRICTED INCOME FUNDS
Balance at
Oulgoing 31 December
resource5
2023
Balance at
January 2023
Incoming
resources
Designated Fund -
Communiis, Resource
Bui Idin(p Fund
Designaled Fund -
Communi1￿ Resource
Building Capiial Granls
(202J15)
131201
{129J91)
(200,505)
769,999
769,999
567,684
131201
(129,391)
569,494
-12-

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
15. UNRESTRICTED INCOME FUNDS (Cl￿11￿￿a0
The truslees have reflected the ￿sOurceS arising from and applied to the Community Resource
Building as a designated fund.
The trustees have considered the accounting treatments for the capilal grants in light of the letters
of offer received from the grant donors and, accordinoly. have treated capital grants as being
unreslricled. aiven thal the community resource building is complete, but are to be accounted for
as desiunaled funds. The irustees are unaware of any "continuing use" condition attached to any
grant offers ￿hICh would render such a orant as a restricted capital endowment fund.
For ihe purposes of clarity. a separate designated fund has been established for the capital grants
received. As the communiiy resource facilit>, is treated as an investment Property the designated
fund is noi amortised as no depreciation is charged on the building.
Included within the capital grdnts designaled fund are grdnts receivable as follows:
Grant
Grant
Total
Received
Receivable
R¢cogni5ed
RDC Building Sustainable
Prosperity Programme
217,512
nil
217,512
RDCIIFI Rural
Development Programme
2)7.694
19.793
257,487
Newry and Moume
District Council
?00.000
21K),(K)O
OtTice of the First Minister
and Depuiy First Minisier
65.000
65.000
Alinaveigh LOL No. 37
nil
30,000
TOTAL
750,206
19,793
769,999
Grants receivable have been secured by a number of the funding ix)dies by way of all monies
legal charoes and all monies debenture on lands and premises at Downshire Road, Newry.
Included within designated funds is a negaiive investmeni revaluation reserve of £308,607 (2022
£308.607). The charity has applied the alternaiive accounting rules in accounting for its
community resource centre as an investment propety. Consequently, revaluation gains and
temporary deficiis are reflected through the investmeni revalualion reserve. The significant
change in the market value of the community resource centre has resulied in the investment
revaluation reserve reflecting a netsaiive balance. However. the t￿SteeS consider that. due to the
limited activity in the property market and lack of finance. the fall in value is not pennanent.
13-

ALTNAVEIGH HOUSE TRUST (2005) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible Net curreni Long ierni
rixed assets
liabilities
labilities
Total
Unrestricted Income Funds
650,000
(27,756)
(27,756)
(52,750)
(52.750)
569,494
Total Funds
650.000
569,494
17. CONTINGENCIES
The Communit), Resource Building fund is in receipt of capital grants from various public and
other organisations. Certain grdnt providers have included claw-back provisions within the tern)s
of funding H'hich could result in at least a proportion of the grant monies being repayable io the
funder if. for example. Ihe building was io be sold within a specified period of time from the date
of original grdnt.
18. RELATED PARTY TRANSACTIONS
During prior periods members of the charity's key management loaned the charity funds. At the
balance sheet dale ihe charity om'ed those persons £25,OIK) (2022 - £25,000).
19. COMPANY LIMITED BY GUARANTEE
The company does noi have a share capithl, rdther being limited by guarantee.
14-