THE PRIORY FOUNDATION Cbarity No. 295919 ACCOUNTS FOR THE ENDED 31ST DECEMBER 2023
The Priory Foundation gal and Administratiyc Infomution Ci>ntstitudon The Priory Found2ti0n 1$ a registered ciwiry, 295919. The chAnry 15 constituted under a deed of settlancnt dated Sdx June 1986, thich was vatied by a deed dated 10th Noyember 1986. This wa$ Eurther vAticd by a deed dated 1st July 1995 and 15th Nrnber 2(M)S. Trus*e• N. W. Wray L. Metcey D. Pouthcy G. Bartks PdnclpAI Office 3 Gratt Court Tottcridge Green L&)ndon N20 8PY Chatlty Re81otsodott Nwnber 295919 IndependeL¢ ExlItter Moore Kingston SDiith IJ 9 Appold Srreet London EC2A 2AP Bankc Handtlsbankcn The Limes 32- 34 Uppu Matlbotough Road St Alb#ns ALI 3UU
The Priory Foundation Trustees, Report Tht TnJ$tee$ present the stAwiory report wAth the accounts oEThe Piiory Foundation Eor the year ended 31st December 2023. The TNstee8 have adopted the provisions of the statent oERecommended Practice {Ch2riti¢$ SORP FRS 102)'Attounting and R¢porw by Chatities" issued in 2014, and updated in 2019, to be compbant with FllJ2nciai Rtporung Stsndatd (FRS)102. Trn81 Deed Tht chanry was estab]ished under a tked OE Sett]enwnt data 5th June 1986. This deed was Yoried on 10th November 1986, 1st July 1995 And 15th November 2005. Tru8iee Rc¢ThitstttJxt Trainlog The Foundation identifies inthvidu21$ who btin8 the rdevr skills and expeftence to the boatd. Induction of TN5tees include8 being provided with the rdevant infomJAtion About the ¢hariry, briefings 1th oth¢r ttustees syaff is approptiate. Tr9ining i¥ made av2i]ablc to all trustees where new is%ues all$t. OrgAlliNatloDal Strncts The Ttuytces rn2iAtin respoDsibiliry fot the ehgritiH8 Strqtcgy. govemance and riBk management. The board meets whenevcr mAttcr5 ¥rise in order to dcal with these mattexs. Ihe chAnti' was Lsiabli%hed uryth the purpo8e of miking to chArAtics or fot Such other djgtitable puTro$e$ whsch are oinxd at benefiting the public in gener41. AU s$etS ¥TC held by the <h•rity wirh g view ro g¢rteratin8 ndS to ac'eve thi's objetuve. Thc ¢hariry gams to hdp irtdividuals and entitie5 in rLeed as outlined in the TLust Dccd And review5 c¥eh jnth'vldu appkncation on the basis of ity merits. The chariry Also rnS to mong8e it's inVtMent9 to provide * rebable soutce olincome from which to provide yants wkn'ch benefit thc pubhe in gcneral. In 8hapiDS our objecuv¢J for the year find plaftnin8 Out activitiu, th¢ ttu8tte8 have totxiideted the Chatity ComrNssiort' idAnce on publJE benefit, includtn8 the 8wdance "public berLcfitr. tunning g dJArAry (PB21" The chAriry rnct ie$ objective8 by m/kiAg gtants during the year to 12 &'fferent beneficiArie4 in the Areas of Jport, mental ¥Ad physicAI heAltl4 educAuon And medj'eal rese9xch. Th¢ Improvemcnl in rhe chArity's financial po$ition ha$ allowed rhcm to provide yants to sevex41 cau3es thi'È yc4r (see note 3). ThE Twstces hsve elecred to conunue their support of scvetal of these cau$u dutirtg the current yeAr by r¢newing their coftmiitrnent8 to prowde don2tion6. Net ougojng resources for the yc%r amounted to n83,64412022.. incorning resources of L293.897) oEwhi¢h toul JAvc3tment 1058e$ in the year amounied to £381,613 {2022'. wns of £534.6691. This wgs deducted from the general fund5 brought foDward to we te$e¢S ar 31s1 December 2023 of £3,916,73312022.. £4,300,418). IDve&ttnerit Policy It is pcrmissible Eor the loundatton to invest rnonie5 not tquired for its putposes in such iAve8tm¢ni¥, LU[lU¢S VL PLvperty 25 may bc thought fi¢ Subject to legislation. The TNstees' investment policy is to select Atxvcgtrnents thatwill yicjd exponential capiral growth in the tt*dium tert Investment itic0n is to bc deEived Erom the liquidstiots OE such investr[t8 as ttquired. At the end of the ye9r the investment portfo]io va]uauon WAS £4.1)05,56012022.' £4.452,162). Over. the investtnctLt portfolio has decreased in value jitie witlL the thlty s investment obj¢ctive5. P¥.. 2
The Priory Foundation Trnstees, Report (continued) Reserve8 Poll¢y The Tnjsttts airn to maintAin free re3eThrs in unrestricted h]tMly at 2 level thlt enable them tts IIieet their cotThThtted grants, respond to smollcr 4d hoc apph"cauons Eorpnt5, to cover support and 8oYernance Costs. They do thi5 by reviewing the cosh at bank And comrnitted dt>nxtions, and moti118 the volwi¢ary donations received on a nwnthiy basis. A5 flt 31 Dteembtt 2023 the unrestricted re5etv¢y were £3.916,773, of llthich £53,586 1$ r4>re3eAted by cash deposits. The Ttustees cxpect io makc ntS and incur ctssts IA the year end 21Y24 in ]ine with the ptevioua Ye ofopproxiinattly £251(N)O. The level of Iree re5erve3 gt the yeAt end is thettfore $uEfiu£nt fot the ptedicted expertditt the follow£ 12 months. The Trustees expect to receive similar level$ of donations as previous yearj uthich all tund these granrs. They regulAtIy tevtew the inve8tment portfolio to JdeAtify $uitsble listrd ShhId1"ngs that could be bquidaied if nece5Sry. Rcl4ttd PAtty Rehdon6hlp• The Found3uon entered int(1 50m¢ related patty trxnyociions during the yeat with entiues that ate e(mnected to muDber$ of the Tnttt board ofthe Foundauon. the det9il$ of thc$¢ trnnsactions can be Eowid in Note 8 to tlle Fillanci Stltemertts. GrAnts Polley The chlty uttdtrtAke8 a number of grant m?ling prOgramrts. The ebi[1ry criteria are specsfic to each proBtammc and Arc devdoped in accordance any tetrns AfLd conditions imposed by The Ptiory Foundauon as the funder. Dctgd5 OF th¢ ¢ritetia ¥e av9ii8ble £rorn the Foundfition'j repjrered of6c¢. Pollcy The chariry underrakcu no extern n&9isIng activiuel. and thete is no invohTement of third PArty &mdraiBers. Therefore no complaints wete teeeived in the year reg4zdin8 fUnd'$ing pracuces. RIBk M8¢t Ase••meot The Trnstees have (ully reviewed the reAs oEri8k to th¢ ch¥xty, FRing business, comrnciciAI And financial rjsk. The main risk As the recent global equity markets gnd the potenuauy reduced in¢ornc 8cnttated from inve¥tment5 that might limit hJNre mdking octiviry. The TnJ$tees #te eonunuing to congider fillther developments in this but do not con5id£t thi8 An immethAte risk. The vn3hcs to safegugxd tht Assets At in platt And to en$ur¢ that appropriAte 8fDts tgn be mde ftom th¢ income re¢eiYed. P2ge'. 3
The Priory Foundation Trustees, Report (continued) The Ttustees are tesponsjble for piepAring the Twstees, licport 9nd the 6nanuo] st2ternertts in ccordan¢t WAth appiicabLe law afMI Uniitd Kthgdorn Accounting Stondards (United Kingdom G¢nerAily Accepted Accounin8 Ptsctice). The law ippiicable to chattties in Engld & W2le$ require5 the TnJst¢e$ to pttpare financi 8tAtements for e2ch financi2L yeat wkn'ch ve * tnje and fair view oEthe stte of the IF125 of the chatiry and oEth¢ incoming re50urce8 2nd APP]ic¥tton of resources of the chatity (ot thAt pexlod. In prepsnng these 6nancigJ 5¢8temtnts, the Trustees arc requited to.. select suitable aecounttng polLCiC$ 8nd then apply them consi$tendy ob$etve the mcthods and piinciples in the chitIeS SORP. make judwents 2nd estirnates that e rcsooble 2nd pnLdent,' State whether applicable UK A¢¢ounting Standgxd5 (IndudirLg I02) hav¢ been followed, $ubjeet to any m[¢tlI1 depirtures th'sclosed Ind explained in the financi statements; Prep the fthanciai 3tLtements on the ]ng concem basis unles$ it is inapproprigte to presume that the charityThryll coniinue irt bu8ine8S. The Trusr¢¢$ responsible for kecping propet dccowittng reco8 rhat th'sdose viith reasonoble accutaey at iny llme the n2ncial posiuon ol the ch¥rity ¥rtd enable them to enJe that the 6ngnci21 statements comply ryth the Ch•rAues Act 2011, the Chariry (Accounts and Report8) Regulauons 2008 and the proirysion8 of the rLU8t decd. They Are also responsible for sfeBuoxaing the a53cts oEthe ch%rJty And hence for tAkn'n8 reas(>nkble 8tep8 Eor thc prevention and d¢tection of fraud Ind other Irre1#1tseS. Tru•t¢¢• The folloAn8 TtU8tee8 wczc in office since l January 2023.. N.W. WrAy D. Pouiney Lmercey G. Bank8 All transacuons in which Ttustees have AD intere8t in are distlo$ed withl'n note 8 to the gccounts. Signed on Ihf of the Trustee¥'. Dat¢.. 041ioJioL* Page.. 4
Independent Examiner's Report to the Trustees of The Priory Foundation J report to tbe Ttustees on my tX8mination oEthe accounts of The Priory FoundAuon for yeat ended 31 December 2023. ReBP¢)tt$lbiJitie6 and b1• of Tel A5 the Chatiry Tmsttts of the Tn]st you are responsible for the prepgration of tht xccount8 in gccordance with the iequirements oEthe chariti Aet 2011 fthe Acrf). I report An respect of w exarnination oEthc Trust's actourtts culled our undet 8cction 145 0(the 2011 Act and in catLyng out rtry examination I have followed all the apphc2ble DArtctioD$ by the Chariry CofnrntssAon under $¢¢tion 145(5)(b) oEthe Act. ltsdependeJLt examillee• •tatement I hav¢ completed my ex¥rninatitsn. I con6xm th¥T no rnattets have comc to my attention in connection uryth the ex¥minauon 8xving mc cau¥¢ to bejxeve.. l) Kcounting rccords were t)ot keprift zeJp¢ct of the Tt ws required by secuofL 130 of the A¢t,' or 2) the arcounn do rtot accord with thos£ record3. or 3) the *ccounts do not comply with th¢ xppiicAble r4uircments concerning the form and conrent of Accounr5 set out in the Ch2riueE {Accounis 9nd Rcports) Rcguiauony 2008 other thon sny reguiremcnt thir the account5 ve a'ttue ond foit wew which 15 not a matter considered a¥ p•tt of An independenr exAminotion. I have rLO wnc¢mi and have come across other m#ttets in connccuon with the examinlltion to which gttention should be drawn irt thi's report in ordtt to enable a proper undeL8tandJn8 OE the accounts to ttgched. nrrv. -tDI Qjtk LLP Ad#tth Fullerton (FCAI Fot #ttd on behalfo(M¢)ote Kkn88ton Smlth LLP Chartered Accounr4nt$ 9 Appold Stttet London EC2A 2AP D¥te.. 7 October 2024 Page.. g
The Priory Foundation Statement of Financial Activities For the year ended 31st December 2023 Unrc&tricted Fuod$ 20 2022 Income thd Expenditure Note Income From: Investment income Donations 6.562 224.549 15.483 lJl.925 Total Income 231,111 147,408 Expendithte On: Ch#titable ectivities {233,1431 (388,180) Total Expenditure befote gaitis and1088e8 {233,143) P88,180) RegJi8ed &ini/(L081es) on investments Unr¢4]ised Gains/(L08su) on inve5tmeAts {17,504) 1364,109) 1.833 532,836 Net (expenditure)/iticome fot the yeat/Net Movem¢ttt iti Fuod8 1383,645) 293.897 Fund balances btouBht forward at ljt January 2023 4,3(K),418 4,0(hS.521 Fuod Balances CarrAed Forwatd ai 318t Decembet 2023 3,916,773 4J(K.418 Ail ynj ond losses ¥riJing irt the year have been irLcludtd in the Ststement of Finan¢iAI ActiTrities ¥nd ari8e From conrinuing operatio. Page.. 6
The Priory Foundation Balance Sheet at 31st December 2023 Note 2023 23 2022 Fixed A88ets InvesttThts 4.005,560 4.452.162 Cutrent A88ets Debtors Ca$h 8t bank 2,12 53.586 5,963 32,048 55.706 38.011 Current LiabiJitie8 Creditots.. Amounts fa]]Jn8 due rnthin one yeat (144,4941 1189,7551 Nei Curtettt (Liabilitie8) (88,788> (151,7441 To¢al A8&ets le88 Cuttent Liabilities 3.916,773 4,300,418 Funds Unre5tticted- GenerAI Fund 3.916.773 4,300.418 Approved by the trwtee3 gnd authoiised for iBsue on ... .LOl*... and sAgned oft their behalf by: N.W.IVTfiy Ttustee Page.. 7
The Priory Foundation Notes to the Accounts For the year ended 31st December 2023 Aecounthig Pollckg Accounthig CoJYetsdon The financifLI stsicmenis have been prepared AA accordance vAth the Financi Reporung Standard applicable in the UK and Republic of Irdand (FRS 1021, pub]i$hed on 16 July 2014. Artd updated in 2019. The chariry Is a public benefit enury for the putposes of FRS 102 2nd therefore the Chatiry ai80 prepared its fiftAncial Statements in accordance with the Stattmenl of Recotnmendcd Practice applicable to ch¥ritie5 prepating rheir accounts ITh #ecordance with the Financia] Rtponing gYAd app]ieable in the UK 2nd Repubbc of Ircland (rhe FR$ 102 Chariti¢s SORP) the Chatirics Act 2011. The 6n2nci21 starements are prepred in st¢r]in81 whL'ch L8 the nCtIonal cuirency of the company. Monerw Arnounts irA these fingnciai Statements 2re rounded to the ne2ttst pound. The pttineiple accounung policies adopted in the preparation of the fmanuol sraiements tre set out below. GolD8 Ct>rt¢¢tn BAIII The Trustees have a8se2ycd whether the use c>f the 80ing concern basis is appropri/te and have considered possible eyeftts or conth"tions that might ca8t 5igmifjcant doubt on the abjliry of the chatiry to eonunu¢ as a goirLg concern. The Ttusttts have mode thi$ k$sessment for a p10d of at least one year from the dAte of apPitsV of the fm¥iicia] sraiemcnts. We have revised our annuAI fore¢asti for the next rwclve rnonths for 4 $¢¢nrio ere no divxdend income i¥ reccived. We conser rhai Th¢ Priory Found#uon has 5ufGaertt cash rescryes and recurrin8 dorLation8 to conunue Is g going concern in such a situation. ID¢ome Envestmcnt incorne artd AfLtttest receivable IJ cttth't¢d to the StAtement of Financi91 Acuvitiel on 2 receivable bA81S. DortAtions are TCCO8ni#¢d on * receivable basi$, when the chariry iJ1¢8ally entitled to the irtcome, the xct¢ipt oFAncome is prob9ble, the amount c4n be quanufied reliibly. Expeodltsrc Resources expcndcd ate Accounted Eor on an AccnJAI8 bAsiB comprising direct expen$¢s irtcurred in the defined chuitabl¢ purpose8 of the Chlty. Grants rnad¢ ar¢ teeo8nised in on¢¢ #pproved by the ySte£S and notification has been given to the donee. Support CO8ts Are costs in¢urred in supportin8 the chtitiry to fidfil its Ch1tble objecty. Governnce cosrs, wknch arc included within Juppon costs, are thos¢ trleurtcd in the goyernanee of the dJ¥riry and are piimarAiy a8SOUated with consutyjtioft, c0rnpli[ and 8taNrory wuirements. CA6b aod Ca$h EquiYAleDt Cash and cash eqwvAlents indude cash #t banks and irt hAnd sh(>rt temL depNAts ryth a maNriry date of three month$ or le5$. FlnattciAI lJL&trusntDts The ch2nty has elected to apply the provisions of Section 11 'Ba8Ac Finfjnci Instnllnents, of FRS 102 to AU ofits nAnci31 instnllnents. Financial in5tnJmentS Are recowsed the chariry'% baianee sheet when the etsmpany becomes party to the contr*cNg1 pEovi5ion5 of the itt8tsum¢nr. FingrLcial assets atMI liabilities offset, with the n¢t nOUnt$ presented in the financjal statements. when there IS R Icgally enforceable tight to set off the recogni5¢d aniounts And there is gn inteniion to settle on a net ba5LS or to re21ist the Asset and settle rhc liability simultaneously. B95ic financix] assets, od)er than investments, and fjnanci21 habth'ties are accounted for iruually At tt8n58cuon price and sub$equentiy adjusted for any lrnPaiLn1t in v9Jue w adjustntI to setdernent va]ue. With the excepuon of tsx recoverable, all other debtor gnd creditor balances are COASAdered to be basic fituncial insrDJmcnts un(kt FRS 101 P9ge: 8
The Priory Foundation Notes to the Accounts (continued) For the yeat ended 31st December 2023 A¢¢owitillg Policies (Continued) Eryv¢•ttntnty In accordance viith the Statetneni of Recomtnended Prnctice. ]istEd iftvesrments (which ate dealt with un a ieco8niitd 6tock exchange) are incl in the g¢COUttts At their fair value (the quottsl matket pricel. Crits¢•l e0tIg estimate& qnd oteas of judgemetLt In the view olthe Tntstees irl opplying the accounting pohcies adopt¢d. no judger[ntS wcte qU¢d that hlvr liigryllfant effect on the noUtS recognised th rhe fin#nciAI bt#tem¢Ats nur do any e&titTJtes ot 05$umptiOA5 made carry a SI¢2ftt iisk oEmAteJial 2djuBrmentin the next financi41 y¢9r. Employte Bellefit8 Th¢ cost$ 0É8hott-term wloyec benefits ate t¢cow6ed 48 9)iabib'ry and 9n txpense. Inve8tmeDt Income 2023 UK Eguitie8 Bank ter1r teceiyed Othet interest 5,684 878 15,184 293 6,562 15,483 Charitabk A¢tivitie• 2023 2022 %aThcen¥ Heit% Ctr¢k¢r Lca8U¢ SaThcenJ Fuundation &dracen8 Multi A¢ademy TtU8t Tennty SwanseA The Kidney Fund Harrote Grammar School UCL Prost[¢ C4ncer ReJer Debra Power 2 The knis Nlatsh Vund Th¢ Totteridge MLU Fldl Czicket Club E]iz/bcths Srnile Foundation Matchtuom ChatLtgble FuLthdation .kn%¢ Internation .StaDd With U& JR(y)ty 20.0 70.000 47.525 7,500 20,000 121,500 20300 7,500 2,500 6,999 153,500 2.LNJO 250 6.999 35,000 5,OCM) 5,OC 5,0 I,0( I,O(K 20,000 Festtvai olSp(>rt 3.912 2.764 Sturtn Trentham IKenyA LAcr()$$e) Sam No2r 17.060 15 207,936 377.873 Page.. 9
The Priory Foundation Notes to the Accounts (continued) For the year ended 31st December 2023 c111bie Actlvitles (cotsiitiued) 2023 2022 Support Costs.. Governance costs (see note 4) Proles8iOAal Eees- chaxity 8UPPOrt services PwEessioAal E¢cs- othet Stsff costs Sundry ¢xpen$e5 Bxrtk intereÉt and cbw8 6J72 2,5) iO,(K)O 1,080 4,743 2,085 1,395 1,435 25,207 IOJ07 233,143 388.180 Governance c08ts 2023 2022 rndependent ex2rniner fees - current ye Independent exgrniner fc¢$ - ptior year under a¢uu81 5,760 144 5.616 756 6372 Inve•¢mtnt• Total 2023 Tot41 2022 Lasted Unii8ted Market va]ue/cost at 1st January 2022 Addillon$ Di8posalB in ihe year Rc*b'scd 88in5/(Lo$$l on disposal 2.628,355 1,823,807 4.451162 3.332,003 707,890 (l22,4001 1,833 (64,6291 579 (360) 144) 164,9891 534 Unreallsed 00$¥)181n5 on revaluatsort (588.5871 206,440 1382,1471 532.836 Market V8lue at 31¥t December 2023 1,975.718 2,029,843 4,005.560 4,452,162 Hi$totical cosi at 31st December 2023 1 384 843 1899 361 3 284 204 3 366 697 Debtot• te¢over2ble 1120 5,963 2,120 5.963 Ctedltorl: Amowii6 f4llin8 due vlithin one yegt Acctuals Other crtditors 6,846 137.648 5.922 183.833 144,494 189,755 Page.. 10
The Priory Foundation Notes to the Accounts (Continued) For the year ended 31st De¢¢mbet 2023 Rel4¢ed Party Tr•ll$tIon8 The Charity h¢ld the follgwing inv¢¥ttn¢nts in which N.W. Wray. a Trustce, has # b¢n¢fiagJ intetesi.. At JI Dectmbcr 202J Nmber Market Held Value At 31 Dt¢ernbtr 2022 Number Maik¢i Hcjd Value Type of InYt81meni InVlent Dctail TTthba¢tioM io th¢ y¢at AsjtnilarGuP plc Bellu8curA plc Cafflbndge Cowtyo Holdii)Rs plc Cotnbat Medical Jltsidirtgs l.td lirnnchibe Brdnds plc Gfinity plc GRC IntttnA¢ion•J Gti)up liuted MXC Capital IAmired PII.IL Equity LLP Otd 0.olp Od. Ip Ord. 1p 242500 174.0 314,0(M) 1,819 40,020 161,710 241500 174.(KJO 314.LK)O 4.365 113,970 357.960 O¢d. O.(X)Ip 22,163 249,999 22,163 249.999 Otd, 0,5p Ord. 0.lp Ord. O.l)0lp 223,880 301,566 556 45.266 223,880 442.163 5,611 289,704 1,207,11)) 1.207.100 Ord. Ip Pll¢l$hIP 8hAre Ord. 4,001 l.02Ql) 1921 4.494 1.0¥/0 3,685 PattiaTIy 8tsld durin¥ the yeAt MJ'rom4 Hr)id$ limited 22.216 447208 21216 447,208 Rotda plc Ord. 25p 65,493 40278 183.ryX) 64,OSO Piitially sold dutin8 the ye[ Sigmaioc PIC Simbq Slccp lamitcd %tubben l?AB¢ Group limited Vcntetrl CTroup plc Ord. 1p Otd. 1p Ord. O.OOOOlp Old. Ip 877,(XX> 6,476 61,7(X> 468,318 497.965 395.497 877.IX)O 8.476 61.700 4187,612 497,965 395,497 344.667 1340.801 344.667 1.034,IMJI LML'rcLy, A-I tU8tee. al$0 ho¥ a b¢n¢fKil intcrc6t in thc fullowing invcstment8 held by thc chthiity. A$inilor Gtoup plc. Bcllu¥cuM plc, CLrnbIidRC Holthn88 Plc. FtnchigL IlrAnd$ plc. C'KC InlemAuonAI tswup l)Ic. Capital Limii¢d, IMiu>ma 14oldin8s Limited, Rotaia plc, SllnbA.SIcL'P IAsTUte4 Stubbcn FIAJ8e Grnup Linii¢d, Vcnrerta Gtotsp plc. D Poutney, J TnJ$tte. olgo hai È benefici intcrcyt in the inve$¢menrx held by Ihc chAiity'. BtUu*cur¥ plc, (.Arnbffdge rmlrin I Ifililiny Plf. ItnChilL Plc. CIRf. Int¢mAuonai Grovp Plc, Mirom# Ilolth'ny IArnitcd. RotAIA plc, SDJbben Edw- Group limited, Vcnt¢rvJ Group pl¢ Duting th¢ ycor, Gr>idon BAnkd. a liuttee wlli ptiid for C.hariry ConEultaney and Suppott S¢Tvices PfOVLd¢d. '1kni8 pcrmittcd by the govctrtift8 docufflcnt of the chlty. Ttion Ibe l>tioty Foundation 1$ & r¢8i$t¢icd Choriry 2nd thefOre is not bable to Incorne Tax oi Cxpirgl Gpitts Tgx on incorne Or$ 10 Staff co$ts 2023 202Z Staff oxpenEes indude the followiAB employee costs.. Wage$ Ind $2J2ties Socnl secuNty costs Pension cu¥ts 4.650 93 Key m)nog¢m¢nt petsonnd are those persons having Authority and responsibility fot pl2nrtirL& dttectyng 2nd cuntrolkn.ng thc ctivJtieB Df the Choxity. The Chatiry considers the Board of Ttusiets As its key m2ftagement pcisDnncl. lTheit total EctnuncrAtion (Jnduding pension contttbution$ And tmploytt's n2ti0nd insurance) for ihc yrat totslled £nii12022.. £ftiil. Page.. I I
The Priory Foundation Note8 to the Accounts (Continued) For the year ended 31st December 2023 10 Stlff co8ts (eotstittued) No employee egttsed more than £60,0(M) in tbis or the piioi yeat Employee• 23 22? Number Nuthbtr Tr 2YeNge numbei of empJoyec8 by function were.. G[r.P rnanaAement Pagti 12