Charity registration number 1093700
Company registration number 04404356 IEngland and Wales)
RAY MCGRATH MEMORIAL TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2023

RAY MCGRATH MEMORIAL TRUS"
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr H Vvoort
Mr P Scolt
Charity number
1093700
Company number
04404
Registered office
l O Bolt Court
3rd Floo
London
EC4A 3DQ

RAY MCGRATH MEMORIAL TRUST
CONTENTS
Page
Trustees. report
Slatemènl ol Iruslees, responsibilitie
Independent auditor's report
Statement of financial aclivilies
Balance sheet
Notes to the financial staleinents
8- 13

RAY MCGRATH MEMORIAL TRUST
TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI
FOR THE YEAR ENDED 5 APRIL 2023
The Iruslees present their annual report and financial stateinents lor ihe year ended 5 Apnl 2023.
The financial stateinents have been pi-epai-ed in accordance bvith tlie a¢countina policies set OLIt in note 1 to the
financial stateinents and coinply with the charity's Articles ol Association. Ilie Coimpanies Act 2006 and "AGcoLiriting
and Reporting by Gharities.. Statement ol Recommended Practice applicable to charities prepaiing theii" accounts In
accordance with the Financial Reporting Standard applicable In the UK and RepLiblic ol Iieland IFRS 1021 (effective
1 January 20191.
Objectives and activities
Tlie objects and the public benefit of the Trust are the advancemeni ot edLication 2nd the ielief ol poverty. in pzrtictjlèi
the granting of scholarships. bursaries 01 granls lo UK residents In the fields ol M￿Sit and the Merchant Navy.
,ryubliG benefjl
I he trLJStees have paid due regard to guidance Issued by the Charity Coinmission In (Seeiding what activities the
charity should undertake.
Aciiviiies
During the previous year the late Mrs Chi"Istina McGrath's estate passed lo the charity. The trusteès have investe
the funds received wth the aim to achieve an annual Income. which will be iised lor the ¢haiitable purposes. and to
achieve capital growth ol the investments.
Achievements and perfomiance
Signiricai?t acfriviiies and achievenients against obiecliwes
During the pievious year, the charity received the late Mrs Christina McGrath's estate by way ol her will. The amount
i eceived was £3.251.802. The investment Inc0511e ieceived 111 the year amounied lo £90.81012023.. £4.9401.
There were no amounts made to various charities during the year howevei. the tl U5tees continiied to lorin partnerships
with various bodies with the aiin of fulfilling the charity's obiectives In the upcoming year.
Financial review
Resewes Policy
It Is the poli¢y of the charity that unrestricted funds which have not been designated for a specific Lise shoiild be
Inainlained al a level eqLiivalent to belween three and six Incjnlh's expendiluie The trustees consider that reserves
at this level will ensuie that. in the eveni of a signifioant drop In funding. they ivill be able to continue the chaiity's
curient activities while consideration is given to ways In which additional funds niay be raised. This level ol rese5ves
has been maintained throLighout the year.
tylajoi risks
The trustees have assessed the I￿a10r iisks to which the charity Is exposed, aiid are satisfied that Systems are In
place to mitigate exposure to the tnajor risks
Structure, governance and managèment
The company is limited by guarantee and the governing documents are the company's Memoranduni aTrd Articles ol
Associats'on
The Iruslees. who are also the directors for the PLirpose of company law. who served during the year and up to
the date ov signature ol the Iinancial statementg were
Mr H tIVood
Mi P Scott
Reci"uitn?en* èncl èppoinriiient of tiLJsle8s
None of the trustees has any beneficial intefest in the company. All ol the tiustees are Irembeis of the company and
guarantee to contribute £1 in the event of a windiiiq up.

RAY MCGRATH MEMORSAL TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, RF.PORTI ICONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Auditor
In accordance with the eompany's articles. a resolLilion proposinq that be reappointed as auditor of the coinpan51 wll
be put at a General Meet5ng.
The tILlStees'
port was approved by the Board OT Tiustees.
MrHW
Trustee
od
Date..

RAY MCGRATH MEMORIAL TRUST
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2023
The trustees, who are also thè dire¢iors ol Ray McGrath Memorial TrLl8t foi tlie piiipos& of rompany law. are
I'esponsible loi pieparing the TILlStees' Report and the financial slalemeiit8 In acc.oidai)ce with applicql)le lavi and
United Kingdoin Accounting Standards (United Kingdoin G*nei"ally Accepted Accounting Praclicei.
Coinpany Law requires the trustees to prepare financial stateineiits lor eacl) Iii)ai)cial yedf Wnich uive d triie and lair
view of Ihe slate ol affairs of the charity and ol the Incoiiiing resoLir¢es and (Ipplicalioll ol resources. Including the
incoine and expenditure, ol Ihe chaiitable company lor that year
In preparing these financial statemen15. the trustees are reqiiired lo
select SLlltable accoLinting poli¢ie$ and then apply thein consislenlly
observe the methods and piinciples in the Charities SORP
make jLidgements and estiinates that are reasonable ai)d prtidLint.'
state whether applicable UK Accounting Siandards have been tullowed. s(Ibjert to any material departures dis¢losed
and explained In the financial staleinenls., and
prepare the financial slaiemenis on the going concern basis uiiless It Is Inappropriate to pi'esiii)ie ihal the charity
will continue in optralion.
The trLislee$ are responsible lor keeping adeqLiate aceoLintino ieiolrts thai disclose wilh I'easonable acc.uracy at any
tiine the financial position of the charity and eiiable Ilieiii to ensLire tl)dl tlie fii)ancial slaieinenls ¢oinply willi the
Coinpanies Act 2006 They aro also responsible lor sategiiarding the llsseis or the Charity ai)d heiire lor takiny
reasonable steps for the prevention and detection ol traiid and other IrregLilaiilies.
As lar as the IrLlStees are awaie. there Is no relevaiit aLidit Inloimalion ol which the company's au(Jilor$ 8rL' unawaiè
The trustees have iaken all the slep5 they OLighl lo hav? takei). as a tiiislee. in ordpi lo make Iheinselve5 aware ol
aiiy relevant audit information and to establish that the ¢oini)18riy's aijdiloi s awarp r)1 that inlorinalion.

RAY MCGRATH MEMORIAL TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF RAY MCGRATH MEMORIAL TRUOCT
Opiiiion
Vve have aiidited the finan¢ial statements of Ray Mc.Gri4lli Ibl?Ini)rial I'riisl Irhe knhAiity'l lor the year ended 5 April
2023 which coinprise the stateÈTent of financial activities. tho b2lÈnce 8ne.el and notes to the Iinanc,ial statemenis
incliiding signilicanl a¢¢ounling policies. The financial reporting lr8inewoi-K that lias been applied In their preparation
Is 8pplic2ble law and United Kingdoin Accountinq Standards. incliidino Financial Reporting Standard 102 Ine
Financial Reporting Standard 8pplicable 11? the (Jr( and Republic oi li"&iantt (United Kingdom Generally Aceepled
Accoiinting Practice).
In our opinion. the financial statements..
give a irue and lair view ol the state ol the charitable compaiiy's allairs as at b April 2023 and ol its incoining
iesources and application of resolirces, lor the year then ended..
have been properly piepared in accordance with United Kingdoin Generally Accepted Acco￿￿￿'ng Practice.. and
have been prepared in accordance with the requirements ol the CorFipai)ies Aci 2006 and Charities Act 2011
Basis for opinion
Vve ¢onducled our aLidit In accordance ivith Intemational Standards on Auditing IUKI IISAS IUKII and applicable lavj.
OLJI responsibilit'es linder those standards ai"e furthknQl dp8cribed in tnp 4iidito.i % I'esponsibilifries foi. the 3Lidit Gf the
financial sialeiiients section of our report. We are Indepeiidei)l ol the cncirily Iii accordance with the ethi¢al
requireinents that are relevant to our audit ol the fittaiicial slatemeiits in the JK. Iiiciuding the FRC'S Ethical Standaid.
and we have fulfilled OLIF other ethical responsibilities In accordance witii these. i-equireinents. We ￿elIeVe that the
audit evidence we have obtained Is sufficient and appropriate to provide a basls toi olir opinion.
Conclusions ￿lating to going concern
In auditing the financial statements. we have concluded that the trustees, Lige otthe going concern basis ol accountiiig
in tlie preparation of thè financial statements is appropriate.
Based on the work we have performed. vrfe have not identified any Inaterial Lincertainiies I'elating to events or
conditions that. individuèlly or ¢olleclively, may cast significant doubl on thp charity's ability lo tontinue as a 9oin9
oon¢ein lor 2 period ot ai Seas1 twelve months troin when the financial stAtements are aulhorised toi issue.
OLlI- responsibilities and the responsibilities oi the triistee8 With respeGI to ooiftg L'oncern are described in the relevaiit
sections ol this report.
Other infomiation
The other intorination comprises the information Included in the annual report other than tlie fioaneial statements and
oiir aLiditoi-'s report thereon. The trustees are I'esponsible foi tlie othei- Inloi-lnation contained within the anniial report.
Oiir opinion on the financial statements does not eover the Oiher Inforination dnd we do not express any form of
assurance conclusion thereon. Olir responsibility is to read the orher Inlormtlioii and. In doing so. Consider whethei
the other inforinalion is Illaterially inconsistent witli Ihe fiiiancial slate5nentS 05. oiir knowledoe obtained in the eOLirse
f the aiidit, or otherwise appears to be materièlly Inisstated It we Identify s15ch Inaterial Inconsistencies or apparent
material misslaiements. we are required to determir)e wheiher this gives rise to a material InisstatemeTrt in the financial
statements themselves. If. based on the woik we have perlorined. Ive eonclude tnai there Is a material m15Stateinent
of this other Inloi'in2tion. we are required to report that lact
We have nothing to report in this regard.
Mattèrs on which we arè required to report by exception
Vve have nothing Èo ieport in respect of the following Inarters In relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to ieport to you if. in oiir opinion
the inforination given In the financial sÈateinents Is inconsistent in any material respect with the trLlStees' report..
<>1
SLifficient accounting records have not been kept". or
the financial statements are not In agreement with the aceoLinlino records". Oi
we have not received all the inforination 8nd explanation8 kve require for our aLidit.

RAY MCGRATH MEMORIAL TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF RAY MCGRATH MEMORIAL TRUST
Responsibilities of trustees
A8 explained Inore fully in the stateinent of Iriistees. responsibilities, the trustees. who are also the directors or the
charity lor the purpose of company law. are responsible for the preparalioii of the financial stateirents and loi" being
satisfied that they give a tiue and tsir view, and lor such Internal control as the trustees deiermine Is necessary to
ei)able the pieparation of financial statements thai are free troin Inatenal inisstateineni. whether oiie to fraud or error.
Iii preparing the financial slatemenls. Ihe trustees are responsible loi assessing the charity s ability to contlnLie as 3
goir)g concern. disclosing, as applicable. Imatteis relaled to goino contein and using the going concern basis ol
accounting unless the trLlStees either Intend to liquidate the chaiitable company or to c.ease opprations. or liave iio
i-ealisbc alternative but to do so.
Auditor's responsibilitiès for the audit of the finaiicial statemenis
We have been appointed as auditor under section 145 of the Chaiities Act 2011 ancl report In accordance Mqth the A¢t
and relevant regulations Inade or having effect thereLsndei
Our objectives are to obtain reasonable assurance about whelhei the financial statements as a whole are free Iroin
maleiial Inisstatement. whether due 10 fi'aud or erior. and to Issue an a(Iditoi's report that Includeg oiir tspinioi-.
Reasonable assLirance is a high level ol assiirance bul Is not a guarantee thar an aiidit condiicted in accordance with
ISAS IUKI will 2lways detect a material Inisstatement when it èxists. Misstateinents cèn arise fioin fraiio 01 eiroi and
are considered material il. Ir)dividually or in the agoregate. they Gould rèasonably be exper.ied to influer)ce the
econoinic detisions of useis taken on the basis of these financial staleinents.
Irregularities. including fraud, are instances ol non compliance wth law and regulations. We design pro¢edure5 In
line with our responsibilities. ouilined above. lo detect material misstateinents In respect of irregularities. including
fraLId.
A further desciiplion ol our responsibilities is avai12ble on the Finan¢ial Reporting Council s website al." https".1,1
www.Irc.org.uklauditorsresponsibilities This description lorins part ol oiir aLiditor's report.
other matters
The prior period financial statements were iiot audited by us or ai)y other 8Liditois
Use of our report
This report is made golely to the charity s trustees. as a body. in accordance iAJith v)2rt 4 01 the Ch8ritie8 IAccounts
2nd Reports) Regulations 2008. Our aLidil work has been undertaken so that we Inight slate to the charity's trustees
those Inatters we are required to state to thein an auditor's report and lor no otlier purpose. To the fullest eKtenl
permitted by law. we do not accept or assLime responsibility to anyone other than the charity and the cliarity"s trustees
as a body. loi our audit work. loi this ieport, or lor the opinion¥ we have formed
Calders118831 LLP
Chartered Accountants & Ststutory Auditors
Date..
9th May 2024
30 Orange Street
London WC2H 7HF
Calders 118831 LLP ig eligible loi appointrment as aLiditoi- ol the chanty by virtue ol its eligibility for 2PP05ntment as
aiiditor ol a company under sectitsn 1212 01 the Coinpanies Act 2006.

RAY MCGRATH MEMORIAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2023
As restated
Unrèstricted
funds
2022
Unrestricted
funds
2023
Noies
Income from:
Donations and legacies
Investinents
3.521.802
4.940
90.760
Total income
90.760
3.526.742
Expenditure on..
Raising funds
Charitable acts-vilies
25.381
5.400
2.919
Total expenditure
30.781
2.919
Net gainslllossesl on investments
10
209,829
1.054
Net income and movement in ￿ndS
269.808
3.524.871
Reconciliation of funds..
Fund balances at 6 April 2022
3.578.150
53,273
F¢Jnd balance5 at 5 April 2023
3,847.958
3.578.150
The statement of financial activities Includes all gains an(t losses recognised In the year. All Income 8nd expenditure
derive IloTn continuing acb"vib"es.

RAY MCGRATH MEMORIAL TRUST
BALANCE SHEET
AS AT 5 APRIL 2023
As restated
2022
')023
Noles
Fixed assèts
Inve5tmeDts
12
3.657,545
1.511.249
Current assets
Debtors
Cash al bank and In haiid
196.635
2.068.457
196,635
?.068 457
Creditors.. amounts falling due within
one year
13
16.2221
11 .5561
Net current assets
190.413
2,066.901
Total assets less current liabilities
3.847.958
3.578.150
Net assets excluding pension liability
J.847.958
3.578.150
The funds of the charity
Unreslrioled tunds
3.84 1.958
3.578.150
*.847.958
3 r)78.150
The company 15 entitled to the exemption froin the audit ieqLiireiiient contained In gection 477 of the Companies Act
2006. for the year ended 5 April 2023. although an aiidit has been carried out linder section 144 01 Ihe Chaiities Act
2011
The directors acknowdedge Iheii responsibilities lor coinplying with the requireinents of the Companies Act 2006 with
respect to accounting records and the preparation ol finaiicitl staleinenls
The members have not required the company to obtain an audit ot Its financial statements Linder the requirements ol
the Cotnpanies Act 2006. foi the year in qLiestion in accordan¢e with se¢iion 476
These financial slaleinenls have been prepared in accordance with the provisions applicable to companies subject to
the sinall companies regiine.
The Iinan
ial statements were approved by the trustees on
MrH
ood
Trustee
Company reoistration number 04404356 (England and Imalesi

RAY MCGRATH MEMORIAL TRIJST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2023
Accounting policies
Charity information
Ray McGfalh Memorial TrLISt is a private company Iimiled by giiarantee Incoi'poraled in England and IAlalp8.
The registered office Is 10 Boll Court. 3rd Floor. Loi)doii. EC4A 3DQ
1.1 Accounting convention
The financial slateinents have been preparèrt In <.Iccoidai)rt with th￿ cliRI'ity's Articles ol Association. the
Companies Act 2006. FRS 102"The Financial Re.i)onin4 Slandaid applicable 111 Ihe UK and Repiiblic ol Ire.land"
I'FRS 102 1 and the Charities SORP ' Accountynq and ReportinfJ by Cliaritie5.' Slateineni ol Recommended
Praclice applicable lo ¢haiilies pieparing tlieii aceuiiiils In actoi dan¢e witli tlie Financial Reporting Standai d
applicable in the UK and Republic ol Ireland IFRS 1021" lettective 1 Jaiiuafy 20191. The cliarity is a Pliblic
Benefit Entity as defined by FRS 102
The charity has taken advantage of the provisions in the SORP lor chaiilies not to prepare a Statement ol Casn
Flows.
The financial stateinents are prepared in sterling. which is the lunclional CLirrency ol the charity. lthonetary
ainoLinls in these financial slateinenls are roiinded lo the nearesi £,
The financial slalements liave been prepared under the hitstorical rosl Convention. Inodified lo include the
revallialion ol freehold properties and lo Incliide Investinent pi'nperties and certain financial instruments al lair
valiie. The principal accoLinting policies adopted are sei nLli bpiow.
1.2 Going concern
Al the liine ol approving the financial statenienis. tlie IrLlStee% have a reasoi)Able expe¢t&lion that the charity
has adeciuate I'esoiirces lo coftlinue in operational existence lor the loreqeeable lulLiie. ThLlS the tiiisleps
¢onlinue lo adopt the going concern basis ol accouiiting Iii prepariiig the Iii)diicial Slateinenls.
1.3 Charitable funds
Unrestricled ILind$ are available lor u8e 31 the discl-elion ol the Irustees in Illrtherance of theii. charitable
objectives.
Restricted Ilinds are subject lo specific conditions by donors or qri1ntoi's as to how they Inay be used. The
purposes and uses ol the reslri¢ied Ilinds ai e set OLII ii) the iiotes lo rhe fiiiancial statements.
&ndowinent funds are subject to specific condilions by donors thai the oapil81 niiisl be In8inlained by the charity.
1.4 Income
In¢oine is iecognised when the charity is legally entilled to it aftei" any perloi Inance conditions have been mel.
the ainounls can be measured reliably, and it is probable that incoine will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
olthe donation. unless perforinance ¢oiidilions rpriiiire Ilelerf?4 l olthp ir IlloLinl. 1nc.oinp lax recoverable in relation
to donations received under Gift Aid 01 deeds ol covenai)l is recognised at tlie tiine ol 11)e aonalion
Legacies are recognised on receipt or otherwise il Ihe ehawity hag been notified ol an iinpendirig distribution. the
amoiint Is known, and receipt Is expected. 11 the ainoiint is not known. the legacy Is treated as a contingent
asset.
Investment income is recognised on an a¢¢iuaSs basis. Dividend Incomp on quoted securikn.es Is recognised
when the securities are quoted "ex-dividend Dividend income on iinquoted 8e¢urilie$ is reco9nised when the
dividerTrd ig declared.

RAY MCGRATH MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2023
Accounting policies
Icontinued
1.5 Expenditure
Expenses are recognised on the accruals b8s1s al the point when a leoal obligation exists
1.6 Fixed asset investments
Fixed asset Investments are Initially measured at transaction pi'ice exclLiding transaction costs. and are
subseqLienlly Ineasiiied at laii value ai each ieportinq dale. Chanqes In fair valLie are I'ecognised in nel incomel
lexpendiiurel lor the year. Transaction costs are expensed as incuri"ed.
1.7 Cash and cash equivalents
Cash and cash eqLiivalents include cash In hand. ijeposits held at call with banks olhei short-terin liqiiid
inveslinents with original Inatuiities ol three Inonihs or less, aiid bank ovei'drafts. Bank overdr8fts are shoivn
within borrowings in eLirienl liabilits'es.
1.8 Financial instruments
The charity has elected lo apply the provisions ol Setlion 11 'BasiG FinanL5al Instruinents, and Seclion 12 '01her
Financial Instruments Issues. of FRS 102 10 all ol ils financial iiisliLiinenls.
Financial instruments are fecognised in the charity's b21an¢e sheet when Ihe chai'ily becomes party to the
contractLial provisions ol the inslrumenl.
Finan¢ial assets and liabilities are offset. ¥A4th the nel amoiints presented in the financial slateinenls. when there
SS cl legally enforceable right to set ott the recognised ainoiints aiid there Is an Iiitention to settle on a i)el basis
or to iealise the asset and settle the liability simultanpoLJsIy.
Basic financial assets
Basic financial asseis, which include debiofs and cash and bank balances. are Initially meagufed at Iiansaction
i)rice including ti ansaction costs dnd are SLib$equei)tly cafried al ainortised cost Lising 11)e effective Inlere%i
Inethod Linless the ai'rangeinenl conslilLltes a finaiiciny Iiai)baction. where the transaction 15 Ineasured at the
present valLie ol the lulLire re¢eipis dis¢oiinled dt d Inai'kel late ol inlei'esl, Financial assets classified as
receivable within one year are not amortised.
Basic financial liabililies
Basic financial liabilities. inclLiding creditors and bank loans al-e Initially recognised at transaction price unless
the arrangeinenl eonslituies a financing tiallsaclion. where the debt InÈlriiineTrt Is Ineasured al the present valiie
ol the future payiiienls discounted at a Inarkel rate ol interest. Financial I1￿bIlitieS classified as payable within
oiie year are not amortised.
Debt instriiments are subseqvenlly cairied al ainortised cost, Lising the effeetive interest rale method.
Trade creditors are obligations to pay loi goods oi. services (hat have beeii acquired in the ordinary course ol
operations from suppliers. AinoLints payable ale classified as cuiient liabilitses Il payinent Is due within one year
or less. If not. they are presented as non-cuirent liabilities. Trade crediloi-s are i ecognised initially al Iransaclion
price and SLibseqLiently measured at amortised cost Iising the ettective Intei'est method.
Derecognition of financlal Ilabllliie$
Financial liabilities are derecognised iwrfhen the chaiily s ¢ontraclual obligations expire or are discharged or
C8n¢elled.
1.9 Employee benefits
The cost ol any unused holiday entilleinent 15 iecogiiised in the period In wliich the employee s services ère
received.
Terinination benefits are recognised iminediately as cin expenbe when the charity is demonstrably committed to
teiininate the einployment of an employee or to i)rovide terininatioTr benefits.

RAY MCGRATH MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Critical accounting estimates and judgements
In the application of the charity's actOLinting policie5. the trustees are reqLiired lo Inakp iudgeiT)enls. e$tim8les
and assiiinplions abollt the cairying ainount ol assets and liabilities that are not ieadily ai)parent Iroim other
sources. The estimates and associated assLimpiions are based on historical experience and other factors thai
ale considered lo be relevant Acliial resu119 Inay differ rroin these Èslimales.
The eslimales and underlying assLimptiong are ieviewed oli an ongoing basis. Revisions to aceounlii)g
estimates ale iecognised In the pei'iod In which the estimate Is rpvised wihere th& I'evision affects only that
period. or in the period ol the revision and IiilLire period8 whpi'e the i evision affects both current and liitui'*
periods.
Income from donation5 and legacies
Restated
Unrestricted
funds
2022
Unrestricted
funds
2023
Leoacies receivable
3,521,802
Income from investments
Rèstated
Unrestricted Unregtricted
ftsnd5
2023
2022
Incoine froin listed investinenls
Intere51 receivable
84 539
4,940
90.810
4.940
Expenditurè on raising funds
Restated
Unrestricted Unreslricted
fuiids
fuiids
2023
2022
Investment management
25.381
2.919

RAY MCGRATH MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2023
Expenditure on charitable activitie>
2023
Direct costs
Share of support and governan¢e costs Isee note 71
Governance
5.400
Analysis by fund
Unreslri¢led fLinds
Support costs 8llo¢aled to activities
2023
2022
Governance co$1$
5.400
Analysèd be￿een..
Accountancy lees
5,400
Trustees
Other than deiailed in note 16, none ol the IrusiÈe8 lor any persons connected with them) received any
remuneration or benefits from the charity during Ihe ye81.
Employees
The average Inonlhly number ol employees during the yeEsr was..
2023
Number
2022
Number
Total
There were no employees whose annual i einuneiation Wds Inore than £60.000.
Remuneration of key management personnel
The remuneration ol key management personnel was as lollowo.
10 Gains and losses on investments
Restated
Unrestricted Unrèstricted
funds
funds
2023
2022
Gainslllossesl arising on..
Revalliation of Investments
209.829
1.054

RAY MCGRATH MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2023
11 Taxation
The charity is exeinpt from taxation on Ils activities becaiise all its income Is applied lor charitable piirposes.
12 Fixed asset investments
Listed
invèstments
Cost or valuation
Al 6 April 2022 Ireslaledl
Additions
Valuation change$
Disposals
1.S11,249
2,225.953
256,605
1336.2621
Al S April 2023
3.657.545
Larrying amount
Al 05 April 2023
3.657,545
At 05 April 20221i'estatedl
1,511,249
13 Creditors.. amounts lalling due within onp year
20d3
2022
Other c.reditors
Accruals and deferred Income
733
823
6.222
6.222
14 Unrestricted funds
The Linrestricted funds of the chaiity comprise the Linexpended balances ol donations and grants which are
not siibjecl lo specific cor)ditions by donois and grantors as lo liow they Inay be used. These in¢lLide
designated ILinds which have been set aside oui ol Linrestricted funds by the triistees lor specific purposes.
At 6 April
2022
InGoming
resources
Resources
expended
Gains and
losses
At SApril
2023
General tunds
3,578,150
90.760
130.7811
209.829
3.847.958
Restated
Incoming
resources
Restaied
Resourcès
expended
Restated
Gains and
losses
Restated
At 5April
2022
Previous period:
At 6 April
2021
General funds
53,273
3.526.742
12.9191
1.054
3.578.150

RAY MCGRATH MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 5 APRIL 2023
1 S Prior year adjustments
The prior year has been restated lor pievioLisly omitted illvesliner)t li ansaclions. Thè materially restated areas
are fixed asseT investments, cash at bank and in hand and legacies receiveu.
16 Rel8ted party transactions
Transactions with related parties
During the year the charity Lltilised the aecoLintancy sei'viLes ol SRG LLP. cl fiiiii ol wliich a Trusiee is Inalerially
interested The charity was charged a lee ol £5,400 Iin¢lLisive of VATI loi accounting seivic,eF.
13