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2023-01-31-accounts

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

Charity numbers: 1193111 & SC051100

THE MARTIN MORAN FOUNDATION

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6 - 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 20

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023

Trustees

A J Moran, Chair I S Dring

R G Talbot

H R Francis

J J Moran

R J Moran

Charity registered numbers

1193111 and SC051100

Principal office

8 Watkinson Court Aviemore PH22 1UD

Accountants

Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB

Page 1

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

The Trustees present their annual report together with the financial statements of the Charity for the year from 1 February 2022 to 31 January 2023.

Objectives and activities

Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

The Martin Moran Foundation is a charity which offers fully funded places on mountaineering courses. The aim of the foundation is to improve the lives and access to opportunities in order to enrich the lives of participants and better their outcomes in life. The charity offers places to young people, aged between 16 and 18, who have an interest in the outdoors and mountaineering but have barriers or challenges to accessing them. These barriers or challenges could be financial, familial or otherwise and each application is assessed for its individual merits.

Attendees of the Foundation’s activities are encouraged and supported as they continue on their journey through advice and guidance after the week's course. Applicants also leave our course with a full set of high quality mountaineering equipment and clothing with which to continue their mountain activities safely.

Currently the Martin Moran Foundation runs a one week course per year for ten successful applicants. The aim in 2024 is to expand this to two weeks per year, one in the summer and one in the autumn. At the start of 2023 we have also set up our Scholarship scheme, offering full funding for courses and qualifications in mountaineering and climbing for our alumni.

Strategies for achieving objectives

The main strategy for achieving the Foundations objectives has been as follows:

Achievements and performance

Main achievements of the Charity

In October 2022 the Foundation had its second successful course, increasing the number of participants to ten young people. The week was a success on several fronts with all students improving their skills in navigation, rock climbing, rope work and mountain safety. Several students achieved their first lead climb indoors and were working individually on skills learnt during the week.

After the course the students have gone on to use their skills in many different settings. We have had two participants sign up for Alpine courses with the Conville Trust. Another of our participants has just enrolled, through the Scholarship Scheme, on a Mountain Leader Course which will allow him to lead groups and teach them skills and safety in the mountains, thus influencing the next generation of mountaineers.

Page 2

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Achievements and performance (continued)

We have also set up our online community for alumni of our courses, this allows them to have continued access to our help and support alongside the support of the community. We continue to be in touch with the members of this course to guide them in their journey. These young people are now advocates in their community for safe use of the mountains and will also encourage other young people to access the outdoors. The benefit to these young people and others who they encourage to join them in the outdoors is immeasurable.

We have had considerable success in our fundraising with one event; the Martin Moran Round raising some £6,000, a significant proportion of which was also Gift Aided. Alongside this there have been several successful applications to trust funds including one notable success with The Britford Bridge Trust who awarded £27,000 in May 2023.

Financial review

Overview

Details of the charity’s financial position at the end of the year are shown in the attached financial statements. These show a total income of £43,397, and expenditure comprising Mountain Adventure Programme costs of £18,619 and operating expenses of £8,352, thus arriving at a surplus of £16,426 at the year end.

Income was significantly in excess of the £40,000 budgeted, although was some 18% down compared with the previous year. Programme costs were some 57% in excess of that budgeted, and 26% higher than the previous year. This was due to a combination of there being 10 places on the October course, instead of 8 previously, and a wider geographical spread of the course participants, resulting in considerably increased travel costs. Operating expenses were some 15% over that budgeted, due to additional expenditure on printed material and IT costs. Overall, the surplus for the year finished up at approximately 48% less that for the previous year, and 19% below that budgeted.

Going concern

The Trustees are satisfied that the charity is able to operate for the foreseeable future, on the basis of its reserves and continuing support for the charity. The going concern basis of accounting is, therefore, appropriate in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the within the notes to the financial statements.

Reserves policy

At the end of the year, the charity’s reserve funds comprised restricted funds of £nil, and unrestricted funds of £47,943, this being the funds carried forward total. This represents very healthy cash reserves; an increase of some 79% over the corresponding figure for the previous year. Restricted funds brought forward and received during the year were all expended in the year.

Restricted funds are those funds that can only be used for the particular purpose stipulated by the donors in question and are intended to be used solely for expenditure in respect of the charity’s Mountain Adventure Programme referred to under the Achievements and Performance section of this report.

Page 3

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Unrestricted funds are those general funds that can be used to progress the charity’s overarching aim of supporting disadvantaged young people to access the mountains, and thus are freely available to spend on any of the charity’s purposes.

During the year the Trustees formulated a reserves policy appropriate to ensuring the long-term future of The Martin Moran Foundation. This is based on double an assumed Adventure Programme cost of £19,000, thus giving a minimum reserves figure of £38,000. The Trustees believe this reserves policy to be appropriate at the present time to ensuring the long-term future of The Martin Moran Foundation, but will be reviewed as and when it is deemed necessary.

At the year end the charity had free reserves of £47,943 (2022 ; £31,517).

Structure, governance and management

Constitution

The Martin Moran Foundation is a Charitable Incorporated Organisation (CIO) registered in England and Wales with the Charity Commission on 14 January 2021, registered charity, number 1193111. Its governing document is its constitution.

On 6 July 2021, the charity was also registered with the Office of the Scottish Charity Regulator, registration number SC051100.

Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales and Scotland 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

Page 4

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

Statement of Trustees' responsibilities (CONTINUED)

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Trust deed. 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.

Approved by order of the members of the board of Trustees on 21 August 2023 and signed on their behalf by:

A J Moran Chair of trustees

J J Moran Trustee

Page 5

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2023

Independent examiner's report to the Trustees of The Martin Moran Foundation ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 January 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 ('the 2005 Act'), the Charities Accounts (Scotland) Regulations 2006 (as amended) ('the 2006 Accounts Regulations') and the Charities Act 2011 ('the 2011 Act'). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the Charity's accounts carried out under section 44(1)(c) of the 2005 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the 2006 Accounts Regulations and all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity has prepared its accounts on an accruals basis and is registered in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the 2006 Accounts Regulations. I can confirm that I am qualified to undertake the examination because I am a registered member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 44(1)(a) of the 2005 Act, Regulation 4 of the 2006 Accounts Regulations, and section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations and the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 6

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 24 August 2023

Detlev Anderson FCA

Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB

Page 7

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

Note
Income from:
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
4,130
-
4,130
7,642
7,642
(3,512)
3,512
(3,512)
-		 Unrestricted
funds
2023
£
38,487
780
39,267
19,329
19,329
19,938
28,005
19,938
47,943		 Total
funds
2023
£
42,617
780
43,397
26,971
26,971
16,426
31,517
16,426
47,943		 Total
funds
2022
£
52,549
326
52,875
21,358
21,358
31,517
-
31,517
31,517

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 20 form part of these financial statements.

Page 8

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

BALANCE SHEET AS AT 31 JANUARY 2023

Note
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 1,406
47,707
49,113
(1,170)		 2023
£
47,943
47,943
47,943
-
47,943
47,943		 6,129
26,616
32,745
(1,228)		 2022
£
31,517
31,517
31,517
3,512
28,005
31,517

The financial statements were approved and authorised for issue by the Trustees on 21 August 2023 and signed on their behalf by:

A J Moran J J Moran Chair of trustees Trustee

The notes on pages 10 to 20 form part of these financial statements.

Page 9

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1. General information

The charity is a Charitable Incorporated Organisation (CIO) registered in England and Wales with the Charity Commission, charity number 1193111.

On 6 July 2021, the charity was also registered with the Office of the Scottish Charity Regulator, charity number SC051100.

The address of the registered office is 8 Watkinson Court, Aviemore, PH22 1UD.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Martin Moran Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of the assets held by the charity.

Page 10

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

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.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.6 Cash at bank and in hand

Cash at bank 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 deposit or similar account.

2.7 Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Page 11

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

2. Accounting policies (continued)

2.8 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Donations
Mountain Equipment donation
Initial funding
Donations
Fundraising
Gift Aid
Donations
Grants		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
2,500
-
-
-
7,138
-
11,673
-
1,855
-
23,166
-
7,821
4,130
7,500
4,130
38,487		 Total
funds
2023
£
2,500
-
7,138
11,673
1,855
23,166
7,821
11,630
42,617

Page 12

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

3. Income from donations and legacies (continued)

Donations
Mountain Equipment donation
Initial funding
Donations
Fundraising
Gift Aid
Donations in kind
Grants		 Restricted
funds
2022
£
-
-
-
-
-
-
-
3,512
3,512		 Unrestricted
funds
2022
£
2,500
5,000
12,098
11,034
2,762
8,143
41,537
7,500
49,037		 Total
funds
2022
£
2,500
5,000
12,098
11,034
2,762
8,143
41,537
11,012
52,549

Page 13

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

4. Other incoming resources

Unrestricted
funds
2023
£
Other incoming resources
780
Unrestricted
funds
2022
£
Other incoming resources
326		 Total
funds
2023
£
780
Total
funds
2022
£
326

5. Analysis of expenditure on charitable activities

Summary by fund type

Direct costs - Mountain Adventure Programme activities
Direct costs - Mountain Adventure Programme activities
Summary by expenditure type
Direct costs - Mountain Adventure Programme activities		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
7,642
19,329
Unrestricted
funds
2022
£
21,358
Other costs
2023
£
26,971		 Total
2023
£
26,971
Total
2022
£
21,358
Total
2023
£
26,971

Page 14

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

5. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type (continued)

Other costs Total
2022 2022
£ £
Direct costs - Mountain Adventure Programme activities 21,358 21,358

6. Analysis of expenditure by activities

Direct costs - Mountain Adventure Programme activities
Direct costs - Mountain Adventure Programme activities		 Activities
undertaken
directly
2023
£
18,619
Activities
undertaken
directly
2022
£
14,863		 Support
costs
2023
£
8,352
Support
costs
2022
£
6,495		 Total
funds
2023
£
26,971
Total
funds
2022
£
21,358

Page 15

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Accommodation
Food
General expenses
Guiding staff
Mini bus hire
Travel
Equipment hire and purchases
Insurance		 Total
funds
2023
£
2,534
1,555
178
2,150
1,320
3,752
5,768
1,362
18,619		 Total
funds
2022
£
2,032
1,163
415
2,460
1,091
953
5,460
1,289
14,863

Analysis of support costs

Marketing
Governance costs
Subscriptions
Website costs
Banking fees
JustGiving transaction fees
Other operating expenses		 Total
funds
2023
£
3,683
882
1,108
1,034
130
226
1,289
8,352		 Total
funds
2022
£
3,569
840
562
425
63
233
803
6,495

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DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

7. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 882 840

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 January 2023, expenses totalling £ 8,163 were reimbursed or paid directly to five Trustees (2022 - £4,490 to four Trustees) These expenses were for IT costs, travel, accommodation, food and other costs relating to the Mountain Adventure Programme and sundry out of pocket expenses.

9. Debtors

Due within one year
Prepayments and accrued income		 2023
£
1,406
1,406		 2022
£
6,129
6,129

10. Creditors: Amounts falling due within one year

2023 2022
£ £
Accruals and deferred income 1,170 1,228

11. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 47,707 26,616

Financial assets measured at fair value through income and expenditure comprise bank balances.

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DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

12. Statement of funds

Statement of funds - current year

Balance at 1
February
2022
£
Unrestricted funds
General Funds
28,005
Restricted funds
The Gannochy Trust Grant
2,400
Lowes Financial Management Limited Grant
1,112
The Scottish Mountaineering Trust
-
The Rank Foundation Limited
-
3,512
Total of funds
31,517		 Income
£
Expenditure
£
39,267
(19,329)
-
(2,400)
-
(1,112)
3,500
(3,500)
630
(630)
4,130
(7,642)
43,397
(26,971)		 Balance at
31 January
2023
£
47,943
-
-
-
-
-
47,943

Restricted funds:

The Gannochy Trust - the grant was awarded to enable two young people participate in the 2022 Mountain Adventure Programme.

Lowes Financial Management Limited - the grant was awarded to assist with the financial cost of one participant on the 2022 Mountain Adventure Programme.

The Scottish Mountaineering Trust grant was to support Mountain Adventure Courses for young disadvantaged people in the Cairngorm mountains with the grant to be used before the end of 2024.

The Rank Foundation Ltd . grant, was to support disadvantaged young people nominated by a teacher or youth group leader to attend a seven day mountain adventure break, to be used before the end of 2024.

Page 18

DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Unrestricted Funds
Restricted funds
The Gannochy Trust Grant
Lowes Financial Management Limited Grant
Total of funds		 Income
£
49,363
2,400
1,112
3,512
52,875		 Expenditure
£
(21,358)
-
-
-
(21,358)		 Balance at
31 January
2022
£
28,005
2,400
1,112
3,512
31,517

13. Summary of funds

Summary of funds - current year

Balance at 1
February
2022
£
General funds
28,005
Restricted funds
3,512
31,517		 Income
£
Expenditure
£
39,267
(19,329)
4,130
(7,642)
43,397
(26,971)		 Balance at
31 January
2023
£
47,943
-
47,943

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DocuSign Envelope ID: 1230E57D-5025-4E61-BF83-AA88586C216A

THE MARTIN MORAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

13. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Income
£
49,363
3,512
52,875		 Expenditure
£
(21,358)
-
(21,358)		 Balance at
31 January
2022
£
28,005
3,512
31,517

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Current assets
49,113
Creditors due within one year
(1,170)
Total
47,943		 Total
funds
2023
£
49,113
(1,170)
47,943

15. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 January 2023.

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