PATHFINDER HERITAGE TRUST LIMITED Year ended 30 November 2023 Trustees, Annual report The trustees present their Trustees Annual report in accordance with Charities SORP (effective January 2015) and Ihe unaudited financial statements of the Trust for the year ended 30 November 2023, also prepared in accordance with the aforementioned Statement of Recommend Practice and FRS 102. Th8 trustees, who are also directors of the Charity, al the date of this report and those who served during th8 financial year together with the dates of any changes are set out on Page 1. Principal A¢tlvltles 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 must be carried out exclusively in a manner that is beneficial to the public and is recognised by Ihe law of Northern Ireland as being charitable. 11 is anlicipated that the redevelopment of Moygashel Mills and the surrounding estate will resu5t 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., .Development of a community asset which will become an accessible area for the local community and tourists alike., .Educating people of the hlstorical and heritagé value of Moygashel Mills and the Irish Linen Industry; .Recovering, restoring, preserving and exhibiting historical items which represent important facels of the history and heritage being explained and exhibited., .Providing opportunities for local people, especially those with direct or ancestral links lo the Linen industry, to volunteer their services al the exhibition or in the preservation of items., .Providing a space for use by community groups lo encourage social cohesion and interaction. Company Limlted by Guarantee Each director undertakes to contribute to the assets 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 li8bilities of the Trust contracted before he ceases lo 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 Ihe year are listed on page 1. Page 2 OocumoniRgr..crv33.HZfNsZ0uB.HJlY Pag•4ot20
PATHFINDER HERITAGE TRUST LIMITED Year ended 30 November 2023 Achievements and Performance Financial Review The company returned net incoming resources of£NIL {2022'. £NIL). At 30 November 2023 the total funds of the charity amounted lo £24,536 (2022.. £24,536), comprising restricted funds of £ NIL (2022.. £ NIL), designated funds of £NIL (2022.. £ NIL) and general unreslricled funds of £24,536 {2022'. £24,536). Of the tota5 funds reported above, £NIL is made-up of cash at bank and in hand, with bank debt of £NIL. The trustees endeavour to maintaln 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 whlch additional funds may be raised. The trustees have assessed the major iisks to which the charity is exposed, and are satisfied 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 ils Memorandum and Articles of Association. And was registered with the Charity Commission for Northern Ireland on 27th April 2020. Publlc Benefit In setting our objectives and planning our actlvilies for the year, the trustees have given careful consideration lo the Charity Commission for Northern Ireland statutory guidance on publlc benefit lo 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, heritage and science through enhanced public understanding of history and heritage of the Ulster and Irish Linen industry, and the lifestyle of those 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 companles The above report has been prepared in accordance with the speclal provisions relating to small companies within Part 15 of the Companies Act 2006. By order of the board Miss Caroline Connolly Trustee 20th December 2023 Page 3 acufflBntRpf.. CTY3)¥ThA-520UWQTY Pigb5of20
PATHFINDER HERITAGE TRUST LIMITED Year ended 30 November 2023 Statement of Trustees Responsibilities and Declaration on Unaudited Financial Statements General Responsibilities The Trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare flnancial slalemenls for each financial year. Under that law the trustees have elected lo prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charitable company law the Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of the net income or expenditLtre of the charity for the period. In preparing these financial statements, the trustees are required lo.. select suitable accounting policies and apply them consistently., make judgements eslimates that are reasonable and prudent., stale whether th8 Charities SORP (effective January 2015) in accordance with FRS102 has been followed., and prepare the financial slalements on the going concern basis unless it is in appropriate to presume Ihat the charity will continue in operation. The Trustees are responsible for keeping proper accounting reoords which disclose with reasonable accuracy at any time the financial posltlon 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 relatlon to the financial stalemenls comprising the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet, the Accounting Policies and the related notes: The trustees approve these financial slalements and confirm that they are responsible for them, includlng selecting the appropriate accounting policies, applying them consislently and making, on a reasonable and prudent basis the judgements underlying them. They have been prepared on the going concern basis that the charily 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 thal to the best of their knowledge and belief, the accounting records reflect all the transactions of the charity for the year ended 30 November 2023. On Behalf of the board Miss Caroline Connolly Trustee 201h December 2023 Page 4 Docurmnl Rel..CTV53*zfNA-SZOU&HQOTY P8g•60120