PATHFINDER HERITAGE TRUST LIMITED
Year ended 30 November 2022
Trustees, Annual report
The trustees present their Trustees Annual report in accordance with Charities SORP (effective January 2015)
and the unaudited financial statements of the Trust for the year ended 30 November 2022, also prepared in
accordance with the aforementioned Statement of Recommend Practice and FRS 102.
The Iruslees, who are also directors of the Charity, at the date of this report and those who served during the
financial year together with the dates of any changes are set out on Page 1.
Principal Activities
The Trust is established for charitable purposes only, specifically the preserving and developing of the history of
Moygashel Mills and the Irish Linen Industry for the benefit of the local community, schools and beyond. Such
purposes musl be carried out exclusively in a manner that is beneficial lo the public and is recognised by the law
of Northern Ireland as being charitable.
It is anticipated that the redevelopment of Moygashel Mills and the surrounding estate will result in a number of
benefits including..
.Maintaining the historical and architectural legacy of Moygashel Mills and its estate through the conservation of
the building and the commercial exploitation of the restored property.,
•Developmenl of a community asset which will become an accessible area for the local community and tourists
alike;
.Educating people of the historical and heritage value of Moygashel Mills and the Irish Linen Industry.,
.Recovering, resloring, preserving and exhibiting historical items which represent important facets of the history
and heritage being explained and exhibited.,
.Providing opportunities for local people, especially those with direct or ancestral links to the Linen industry, to
volunteer their services at the exhibition or in the preservation of items.,
.Providing a space for use by community groups to encourage social cohesion and interaction.
Company Limited by Guarantee
Each director undertakes to contribute lo the assels of the Trust, in the event of the same being wound up while
he is a member, or within one year after he ceases to be a member, for payment of debts and liabilities of the
Trust Gontracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and
for the adjustment of the rights of the contributors among themselves, such amount as may be required not
exceeding £1.00.
Trustees
The Trustees who were also directors of the Charity and who served during the year are listed on page 1.
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PATHFINDER HERITAGE TRUST LIMITED
Year ended 30 November 2022
Achievements and Performance
Financial Review
The company returned net incoming resources of £NIL (2021: £13,445). At 30 November 2022 the total funds of
the charity amounted to £24,536 (2021.. £24,536), comprising restricted funds of £ NIL {2021'. £ NIL), designated
funds of £NIL (2021: £ NIL) and general unrestriGled funds of £24,53612021.' £24,536). Of the total funds
reported above, £NIL is made-up of cash at bank and in hand, with bank debt of £NIL.
The trustees endeavour lo maintain sufficient funds to ensure that, in the event of a significant drop in funding,
they will be able to continue the charity's current activities while consideration is given to ways in which additional
funds may be raised.
The trustees have assessed the major risks to which the charity is exposed, and are salisfied that systems are
in place lo mitigate exposure to the major risks.
Structure Governance and Management
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association.
Lissan House Trust registered with the Charity Commission for Northern Ireland on 271h April 2020.
Public Benefit
In setting our objectives and planning our activities for the year, the trustees have given careful consideration to
the Charity Commission for Northern Ireland statutory guidance on public benefit to ensure that the activities
have helped achieve the charity purposes and provide a benefit to the beneficiaries.
The direct benefits are:
The advancement of the arts, culture, herilage and science through enhanced public underslanding of history
and heritage of the Ulster and Irish Linen industry, and the lifestyle of Ihose involved with it.
The advancement of education for the benefit of the local and wider communities by providing an educational
resource for children and adults.
The advancement of citizenship and Community development.
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within
Part 15 of the Companies Act 2006.
By order of the board
Miss Caroline Connolly
Trustee
30th May 2023
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PATHFINDER HERITAGE TRUST LIMITED
Year ended 30 November 2022
Statement of Trustees Responsibilities and Declaration on Unaudited Financial Statements
General Responsibilities
The Trustees are responsible for preparing the financial stalements in accordance with applicable law and
regulations.
Company law requires Ihe trustees as the directors to prepare financial statements for each financial year.
Under that law Ihe trustees have elected lo prepare the financial statements in accordance with United Kingdom
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under
charitable company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of Ihe charity and of the net income or expenditure of the
charity for the period. I n preparing these financial statements, the trustees are required to..
select suitable accounting policies and apply them consistently-,
make judgements estimates that are reasonable and prudent .
slate whether the Charities SORP leffeclive January 2015) in accordance with FRS102 has been
followed., and
prepare the financial statements on the going GonGern basis unless it is in appropriate lo presume that
the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any lime the financial position of the charity and to enable them to ensure that the financial statements comply
with the acts, and all Regulations to be construed as one with that Act. 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.
Trustees, declaration on the Unaudited Financial Statements
In relation to the financial statements comprising the Statement of Financial Activities lincorporaling an Income
and Expenditure Account), the Balance Sheet, the Accounting Policies and the related notes..
The trustees approve these financial statements and confirm that they are responsible for them, including
selecting the appropriate aGGounting policies, applying them consistently and making, on a reasonable and
prudenl basis the judgements underlying them. They have been prepared on the going concern basis thal the
charity will continue in operation.
The trustees confirm that they have made available to Corr & Corr, Chartered Accountants, all the charity's
accounting records and provided all the information, books and documents necessary for the compilation of the
financial statements. The trustees confirm that to the best of their knowledge and belief, the accounting records
reflect all the transactions of the charity for the year ended 30 November 2022.
On Behalf of the board
Miss Caroline Connolly
Trustee
301h May 2023
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