MOURNE HERITAGE TRUST- THE
{A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Noto
Income and endowments
Donations & legaciès
Investments
Charitable activities
Other income
408,654
10,002
380,197
408,654
10,002
702,843
2,620
402,575
7,501
570,240
2,761
322,646
2,620
Total income
325,266
798,853
1,124,119
983,077
Expendlture
Fundraising
Charitable activities
Other
6,125
873,862
6,125
1,192,054
2,804
1,010,670
318,192
Total expenditure
318,192
879,987
1,198,179
1,013,474
Net incomelexpenditure
7,074
181,134)
174,0601
130,3971
Transfers between funds
11
{12,7591
12,759
Net movement In funds
{5,685}
{68,375)
{74,060)
{30,397)
Reconciliatlon of funds,,
Total funds at 1 April 2024
15
71,698 1,103,650
1,175,348
1.205,745
Total funds at 31 March 2025
15,16
66,013
1,035,275
1,101,288
1,175,348
All activities relate to continuing activities.
The noles on pages 18 to 30 form part of these financial statements.
15

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
BALANCE SHEET
AS A T 31 MARCH 2025
2025
2024
Note
Fixed assets
Tangible assets
12
165,449
175,715
Current assets
Debtors
Cash at bank and in hand
13
405,758
721,282
223,289
941,428
1,127,040
1,164.717
Creditors.. amounts falling due wSthin one
year
14
(191,2011
(165.084)
Net current assets
935,839
999,633
Total assets 1•8s curr¢nt liabilities
1,101,288
1,205,745
Net assets
1,101,288
1,175,348
Charlty Funds
Restricted funds
15
66,013
71,698
Unrestricted funds..
General funds
Designated funds
15
542,122
493,1 $3
589,650
514,000
Total unrestricted funds
1,035,275
1,103,650
Total funds
15,16
1,101,288
1,175,348
The financial ststements were approved by the Directors on
by:
2? 111
and signed on their behalf,
David Maginn
Chairman
Vincent McAlinden
Vice Chairman
The notes on pages 18 to 30 form part of these financial statements.
16

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Note
Cash flows from operating actlvities
Net cash provided byl(used in) operating activities
17
{202,064)
845,323
Cash flows from InvestSng actlvlties:
Dividends, interest and rents from investments
Purchaselsale of property, plant and equipment
10,002
(28,084)
7,501
(59,053)
Net cash u8•d in Investing activltles
(18,082)
(51,552)
Change In cash and cash equlvalonts In the year
Cash and cash equivalents brought forward
(220,146)
793,771
941,428
147,657
Cash and cash equlvalents ¢arrled forward
18
721,282
941,428
17

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
1.1 General Infomiation
Mourne Heritage Trust is a private company limited by guarantee and is incorporated and registered
in Northern Ireland under Company Registration Number Registered number N1032946. The
Company is also registered with the Charity Commission under Registration Number NIC 105840
and HMRC Charity Number XR23015. The Mourne Heritage Trust meets the definition of a public
benefit entity under FRS 102.
The company's registered office is situated at 19 Causeway Road, Newcastle, Co Down, Northern
Ireland, BT33 ODL.
1.2 Accountlng conventlon
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective 1 January 2015) (Charities SORP (FRS 1021), the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
The Mourne Heritage Trust meets the definition of a public benefit entily under FRS 102. Assets
and liabilities are initially recognised at historical Cost or transaction value unless otherwise stated in
the relevant accounting policy.
The Financial Statements are presented in sterling which is the functional currency of the charity.
A summary of the more important accounting policies, which have been applied consistently, is set
out below.
1.3 Judg•m•nts and Key Estimates
The preparation of the financial statements requires management lo make judgements, estimates
and assumptions that effect the amounts reported. The estimales and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events
that are considered to be reasonable under the circumstances.
1.4 Income
Turnover represents grants and donations from the government and other bodies. and sundry
income from certain activities undertaken by the company.
All income is recognised once the company has entillemenl to the income, il is probable thal the
income will be received. and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
18

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.5 Fund apportionment
General funds are unrestricted funds which are available for use at the discretion of the Directors in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Directors for
particular purposes. The aim and use of each designated fund is set out in the notes lo the
financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors which have been raised by the company for particular purposes.
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third
party, it is probable that settlement will be required, and the amount of the obligation can be
measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and
governance costs are allocated to the applicable expenditure headings.
Support costs are those costs incurred directly in support of expenditure on the objects of the
company.
Governance costs are those incurred in connection with administration of the company and
compliance with constitutional and statutory requirements.
All resources expended are inclusive of irrecoverable VAT.
1.7 Cash flow
The company provided a cash flow statement on the basis of FRS 102 using the indirect method.
1.8 Operatlng leases
Rentals under operaling leases are charged to the Statement of Financial Aclivilies on a
straight-line basis over the lease term.
1.9 Tangible flxed assets and depreclation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases..
Lrrerm Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
5 % per annum on a straight-line basis
150/0 per annum on a reducing balance basis
25 % per annum on a reducing balance basis
15 % per annum on a reducing balance basis
19

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
1.10 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks.
1.11 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount repaid net of any trade discounts due.
1.12 Penslons
The company operates a defined benefit pension scheme. The fund is valued annually by a
professionally qualified independent actuary, the rates of contribution payable being determined by
the trustees of the scheme based on the advice of the actuary. Pension costs are charged to the
Statement of Financial Activities on a systematic basis based on the actuary's calculations. The
company pays no other posl-retirement benefits to its employees.
The company also operates a defined conlribution pension scheme. Contributions are charged
directly to the Statement of Financial Activities.
1.13 Cash at Bank and in hand
Cash at b8nk and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposil or similar
account.
1.14 Creditors and provlsions
Creditors and provisions are recognised where Ihe company has a present obligation resulting
from a past event that will probably result in the transfer of funds to a third party and the amount
due to settle the obligation can be measured or estimated reliably. Creditors and provisions are
normally recognised al their settlement amount after allowing for any trade discounts due.
1.15 Financial instruments
The company has only financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transactional value
and subsequently measured at their settlement value.
1.16 Accumulated funds
Unrestricted funds are funds that are expendable in furtheran￿ of the objectives of the charity.
Restricted funds are subject to specific conditions by the donors as to how they may be used.
Designated funds comprise funds which have been set aside at the discretion of the directors for
specific purposes.
20

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.17 Going Concern
The financial statements have been prepared on a going concern basis. The Directors do not
believe that there are any faclors or material uncertainties which would impact on their
assessment of this.
Income from donations and legacles
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Donations
Core Grants NIEA
606
408,048
606
408,048
2,575
400,000
Total donations and legacies
408.654
408,654
402,575
Unrestrlcted Funds Income
CharStabl• Activlty
Protection and conservation - Mourne
2025
2024
Core funding NMDDC {TNI -2024)
RPS Mourne Walls
Friends of Mourne
MBR Bicycle wash
Active Lifestyles - Trees
Nl Water Erosion Control
Route cards
Sundry
311,000
25,000
380
170
1,000
41.000
122
1,525
376,000
25,000
390
692
1,500
649
380,197
404,231
21

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Restricted Funds Income
Charitable Activity
Protection and conservation- Mourne
Woodland Trust
Mourne Erosion Control
Mourne Ranger Service
Heritage Lottery Fund - CRESNI
Nl Water Grazing Ranger
Mourne Mountain Landscape Partnership
Recharged projects
2025
2024
16.386
40,234
35,000
35,091
21,499
17,800
202,500
18.000
37,724
42,000
17,800
4,622
322,646
166,010
Soclal fund
Staff social fund
2,620
2,761
2,620
2,761
Investment income
Restrlcted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
fund8
2024
Bank interest received
10,002
10,002
7,501
Income from charitable actlvltlos
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Protection and conservation - Mourne
325,266
380,197
705,463
570,240
Income from charilable activities was £705,463 (2024 - £570,240) of which £325,266 (2024 - £166,010)
was restricted and £380.197 (2024 - £404.230) was unrestricted.
22

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Fundraising
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Advertising & publications
6,125
6,125
2,804
Costs of generating voluntary income was £6,125 (2024 - £2,804) all of which was unrestricted.
Analysls of expenditure on charltable actlvitles
Summary by fund type - Protectlon and conservation - Mourn•
Restrlcted Unrestrlcted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Protection and conservation - Mourne
318,192
873,862
1,192,054
1,010,670
Expenditure on charitable activities re the protection and conservation of Mourne was £1,192,054 {2024
£1,010,670) of which £318,192 (2024 - £179.459) was restricted and £873,862 (2024 - £831.211 } was
unrestricted.
Summary by expendlture typ•
Depreclatlon
Staff costs & fixed asset Oth•r costs
2025
2025
2025
Total
2025
Total
2024
Protection and
conservation - Mourne
778,907
38.350
374,797
1,192,054
1.010,670
Depreciation&
fixed asset Other costs
2024
2024
Staff costs
2024
Total
2024
Protection and
conservation - Mourne
721.279
35,856
253,535 1.010,670
23

MOURNE HERITAGE TRUST- THE
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Charitable Activities- Actlvities Undertaken Directly
Basls of
Allocation
Protect and
conserve
Total
2025
Total
2024
Ranger
Mourne Ranger Service
Mourne Mountain Bike Ranger
Active Lifestyles
Mourne Erosion Control
Woodland Trust
Trees for Mourne
Nl Water Grazing Range
Heritage Lottery Fund- CRESNI
Wages and salaries
National insurance
Pension cost
Actual
Actual
Actual
Actual
Actual
Actual
Actual
Actual
Actual
Actual
255
2,055
13,033
1,582
70,878
2.696
2,907
1,856
5,205
2,146
10,428
949
181,668
72
9,161
3,053
3,188
2,146
10.428
949
181,668
72
9,161
3,053
3,188
i iii
435,571
39,672
27,896
435,571
39,672
27,896
383,973
33,482
23,658
Actual
Actual
713,804
713,804
541,580
Charitable Actlvltles - Support costs
Basis of
Allocatlon
Protect and
conserve
Total
2025
Total
2024
Other support costs
Wages and salsries
National insurance
Pension cost
Depreciation & fixed asset disposal
Governance
Actual
Actual
Actual
Actual
Actual
Actual
143,922
230,654
18,663
26,452
38,350
20,209
143,922
230,654
18.663
26,452
38,350
20.209
139,010
233,315
18,908
27,943
35,856
14,058
478,250
478,250
469,090
Total Charitable Activities
1,192,054
1.192,054
1,010,670
24

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income
This is Stated after Gharging..
2025
2024
Depreciation of tangible fixed assets:
owned by the charily
38.350
37,328
During the year, no Directors received remuneration12024 - £N IL}.
During the year, no Directors received benefits in kind {2024 - £NIL).
During the year, no Directors received a reimbursement for expenses incurred (2024 - £NILI.
Key management personnel are referred to in note 21 Related Parties.
Audit fees for the year ended 31 March 2025 amounted to £4.323 {2024 £4,115). Accounting and
other consultlng services durlng th8 year amount8d to £1,392 {2024 - £nil).
The major source of core operating income is grants received from Northern Ireland Environment
Agency. The other source of core operating income includes the support grantslservice level
agreements from Newry, Mourne and Down Dislrict Council INMDDC). Project funding was received
from the NMDDC, National Lottery Herilage Fund, Northern Ireland Environment Agency, Sport Nl and
Nl Water.
10.
Staff costs
Staff costs were as follows..
2025
2024
Wages and salaries
Social security costs
Other pension costs
666,225
58,335
54,348
617,288
52,390
51.601
778,908
721,279
The average monthly number of employees during the year was
as follows..
2025
2024
Staff
23
23
One employee received remuneration amounting lo more Ihan £60,000 during Ihe year (2024- 1).
Transfer between funds
Mourfje Heritage Trust has acted as a match funder for specific restricted projects, transferring £14.164
from unrestricted to restricted funds.
Ongoing work with the Mourne Mountain Landscape Partnership led to the release of deferred income
of £17,800 during the year, transferring funds from restricted to unrestricted funds. Additionally, £9,122
was transferred from restricted to unrestricted funds for the Grazing Ranger and CRESNI projects.
Overall. this resulted in a net transfer of £12,759 from restricted to unreslric18d funds.
25

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Tangible fixed assets
LITerm
Leasehold
Property
Plant &
machinery
Motor
vehicles
Fixtures &
fittings
Cost
At 1 April 2024
Additions
24,357
158,020
8,999
197.773
17,300
115.021
1,785
At 31 March 2025
24.357
167,019
215,073
116,806
Depreciatlon
At 1 April 2024
Charge for the year
24,357
99,186
9,500
107,555
24,717
88,358
4,133
At 31 March 2025
24,357
108,686
132,272
92,491
Net book value
At 31 March 2025
58,333
82.801
24,315
At 31 March 2024
58,834
90,218
26,663
Total
Cost
At 1 April 2024
Additions
495,171
28,084
At 31 March 2025
523,255
Depreciation
At 1 April 2024
Charge for the year
319,456
38,350
At 31 March 2025
357,806
Net book value
At 31 March 2025
165,449
At 31 March 2024
175,715
26

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Debtors
2025
2024
Trade debtors
Prepayments and accrued income
Other debtors
349,447
55,926
385
199.950
18.290
5,049
405,758
223,289
14.
Creditors:
Amounts falling dua withln one year
2025
2024
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
106,834
84,367
58,834
106,250
191.201
165,084
Deferred Income
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released
63,237
Deferred Income at 31 March 2025
45,437
27

MOURNE HERITAGE TRUST- THE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15. Statement of funds
Brought
Forward
Incoming Resources
resources
Expended
Transfers
inlout
Carried
Forward
Unrestricted funds
General Funds
589,650
798,853
(879,987)
33,606
542,122
Desi
nated Funds
Staffinglcapacity
Equipmentlmachinery
Match fundinglcapital
Volunteer expenses
295,000
89,000
100,000
30,000
295,000
68,153
100.000
30,000
(20,847)
1,103,650
798,853
(879,987)
12,759
1,035,275
Restrl¢ted funds
Restricted
Funds - all funds
71,698
325,266
(318,192)
{12.759)
66,013
Total of funds
71,698
325,266
(318,192)
(12.759)
66,013
Summary of funds
Brought
Forward
Incomlng Resourc•s
resources
Expended
Transfers
inlout
Carrl•d
Fo￿ard
Unrestricted funds
Restricted funds
1,103,650
71.698
798,853
325,266
(879,987)
{318,192)
12,759
{12,759)
1,035,275
66,013
1,175,348
1.124,119 {1,198,179)
1,101,288
16. Analysis of net assets between funds
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
Funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
56,639
145,292
(135,918)
108,810
981,748
(55,283)
165,449
1,127,040
(191,201)
175,715
1,164,717
(165,084)
66.013
1,035,275
1,101,288
1,175,348
28

MOURNE HERITAGE TRUST- THE
{A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. Reconciliation of net movement in funds to net cash flow from operating activities
2025
2024
Net income (deficit) for the year
(as per Statement of financial activities)
(74,060)
(30,397)
Adlustment for:
Depreciation charges
{Profit) Iloss on the sale of FA
Dividends, interest and rents from investments
Increasel(decrease) in provision for define benefit pension liability
(Increase)Idecrease in stocks
Decreasel(increase) in debtors
Increasel(Decrease) in creditors
38,350
37,328
(1,470)
(7,501)
(10,002)
(182,469)
26,117
891,668
(44,305)
Net cash provided byl(used In) operatlng actlvltl8s
(202,064)
845.323
18. Analysis of cash and cash equivalents
2025
2024
Cash in hand
721,282
941,428
Total
721,282
941,428
19. Operating lease commltmants
At 31 March 2025 the company was committed to making the following total payments under
non-cancellable operating leases:
Land and bulldings
2025
2024
Other
2025
2024
Due not later than one year
Due be￿een and five years
3,333
8,750
3,333
11,956
4,621
10,534
7.086
20. Contingent Liabilities
The company has a liability to refund grant monies received by it, should it fail to comply with the
relevant conditions as set out in the letter of offer.
29

MOURNE HERITAGE TRUST- THE
(A company limited by guaranteè)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
21.
Related Parties
The directors are the ultimate controlling paty of the charity.
The directors neither received nor waived any remLtner8tion during the y8ar12024: £Nill. See note 10.
The charity considers its, kay management personnel to be the Chief Executive and the four individuals
of the management team. The total remuneration paid to key management personnel was £187,151
(2024 £181,166). Employer pension contributions totalling £30,45712024 - £29,230) were also made
in relalion to these employees.
During the year the Charity held meetings at business premises own&d by director David Maginn.
Commercial room hire charges. totalling £240 (2024 £5001 were paid to the business with regard to
provision of this service.
22.
Going Concern Revlew
The Charity's operating activities, together with the factors likely to affect its future development and
position are set out in the Mourne AQNB Management Plan referred to in the Directors, Report on page
9. The financial position of th8 charity is detailed in the Flnancial Statements on page 16.
The Charity is reliant on ils Core Funding from a number of third-party organisalions. Th8 current
economic conditions create som8 uncertainty particularly over the ability of the charity to secure core
funding.
The Charity has considered the impact of the current environment on the financial performance and
cash flow of the organisation. The organisalion has commenced the process of engagernent with core
funders for Ihe year @nd8d 31 March 2027. Al this stage funds have been secured from the
Envlronment Fund until March 2028. There are no indications of any problems in oblainlng similar
funding and service level agreements to those hlstorically negotiated wlth our other core fund@r, the
local authority.
The surplus received on exiling the NILGOSC pension sch8me has significantly increased the reserves
of the charity while significantly reducing the level of uncertainty associated with future pension
iabililies.
The Charity's forecast and projections, taking account of reasonably possible changes in its operating
performance, shaw that the Charity should be able to operate within the level of ils working capital.
After making enquiries, the directors have a reasonable expectation that the Charity will have adequate
resources to continue in operational existence for the foreseeable future. For these reasons, they
continue to adopt the going concern basis in preparing the annual report and accounts.
30