Charfty registration number NIC100084
THE MATER HOSPITAL Y P FUND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE MATER HOSPITAL Y P FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MrA Canavan
Dr P Curran
Dr J Doyle
Reverend Dr P Fleming (Chairperson)
Mrs M Hinds
Mr G Hughes
Reverend G Fox
Mr J Fitzpatrick
(Appointed 31 January 2023)
(Appointed 16 May 2023)
Charity number
NIC100084
Auditor
Mccreery Turkington Stockman Ltd
1 Lanyon Quay
Belfast
Co Antrim
Northem Irelanrj
BT13LG
Bankers
AIB (NI)
85 Main Street
Bangor
BT20 4BA
SoliGitors
Cleaver Fulton Rankin
50 Bedford Street
Belfast
BT2 7FW
Investment Managers
IQ EQ Fund Management (Ireland) Ltd
76 Sir Rogersons Quay
Dublin 2
Dublin
Ireland
Investment Advisors
Broadstone Financial Solutions Limited
100 Wood Street
London
EC2V 7AN

THE MATER HOSPITAL Y P FUND
CONTENTS
Page
Trustees, report
Statement of Trustees, responsikn'lities
Independent auditors report
8-10
ststement of financial activities
11
Statement of financial posttion
12
Notes to the financial statements
13-22

THE MATER HOSPITAL Y P FUND
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report arKI financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordan￿ with the accounting policies set out in note 1 to the
finanaal statements and comply with the Charitys Trust deed, the Chartknes Act (Northem Ireland) 2008 and
"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financtal Repotting Standard applicable in the UK and Republic of Ireland
published In October 2019.
Objectlves and activlties
The purposes of the Fund are set out in the Trust Deed dated November 1992.
' The Trust is established to support and furtherby charitable means onty.
such of the purposes, aims and objects of the Mater Hospital, being charitable,
and such otherpurposes. aims and objects similar or akin to those of the Mater
Hospital being charitable, as the Trustees shall in their absolute discretion from
time to time deterniine.
The benefit provided by the Fund is the advancement of health, the prevention of illness, the saving of lives and
the advancement of education.
In setting our objectives and planning our activrties our Govemors have given careful consideration to the Charity
Commission's public benefrt guidance. The public benefit is the health and wellbeing of all users of the services
provided by the Hospital.
The beneficiaries of the Fund are the general public including patients of the Hospital, family members and
carers of patients, relatives and visitors. Beneficiaries a150 include medical, nursing, allied heallh professionals,
ancillary staff and students by way of educats'on, research, training and development of educational facilities.
Policy for the making of awards
The Trustees satisfy themselves that the project being financed is in furtherance of the objects and purposes of
the Fund, that it is charitable and that it does not pl￿ the finances or the reputation of the Fund at risk.
Each project submitted by staff has the prior support of the relevant professional or multidisciplinary group of the
Hospital or senior manager before being brought forward to the Trustees for consideration. A short guidance for
staff has been developed.
The Trustees consult )Mth the relevant personnel V￿thin the Hospital and other professionals to satisfy
themselves that the project is beneficial and viable.
Monltoring achievement
At their regular meetings, the Trustees monitor the financial perfomance of the Fund by way of detsiled reports
from the appointed Investment Managers and the progress of each individual funded project.
In relation to the funded projects an individual report is brought to the Trustees at their regul¥ meetings by
delegated Trustee who liaises with the relevant sponsoring member of the Hospital Staff.

THE MATER HOSPITAL Y P FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and perfomiance
Past Funding
Upon the aC￿ssion of the Hospital lo the National Health Service in 1972: and the routine funding being
assumed by the then Ministy of Health and subsequently the Department of Health and Belfast Health and
Social Care Trust (BHSCT),. the necessty for the work the Young Philanthropists lessened and the funds were
invested and eventually rested within the Fund.
However, the Fund continued to enhance the fabric of the Hospital wth. inter alia. the construction of the new
McAuley building, a state of the art Education Suite, Quiet Room and Junior Medical staff and administration
area.
In addition, the Fund made substantial investment in improvement in the Hospital's diagnostic capacity,
particularly radiology by the provision of Magnetic Resonance Imaging, CAT Scanning and screening equipment.
There was also a major research project into chronic obstructive pulmonary disease (COPD).
Further investments have been made in cardiology. hepatobiliary and ophthalmology departments and the
upgrading of ICT systems, induding a clinical handover project. all keeping the Hospital abreast of the most up
to date technology. Over the past two decades the Fund has contributed some £25.QOO.000 to support advances
in the Hospital.
Projects funded during the year
As noted in the previous annual report during 2019120 the Hospital was designated a Covid-19 hospital. In 2021
the BHSCT began the reestablishment of core servi￿5 in the hospital along with a review and redefinition of the
surgical services available at the hospital. The Mater has now been designated the first ovemight unit for
intermediate level surgery.
ile in 2022 this had an impact on the level of requests and therefore the investment through the fund, an
increasing number of requests have been received in 2023.
During the year 2023 the Fund made investments and interim instalment payments totalling £342K in respect of
completed and ongoing projects.

THE MATER HOSPITAL Y P FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Short Term and Ongolng Investments
The Trustees have made commitments to new and ongoing projects detsiled below. In 2023 these commitments
focused on improving the internal and extemal hospital environment, further enhancement of support to staff
through for example the dinical handover project and support for the palliative care and respiratory teams.
The Trustees, in recognition of the increasing cost of living and the growing reliance by staff on local food banks
the Fund supported donations to three local community fcod banks in 2022. This commrtment was repeated in
2023.
These projects and outstanding commitments are sd￿dUled as follows:
Project I Initiatlve
Totsl Commitment
Payments Made in
2023
Outstanding
Commitment
Junior Doctors Suite
Wayfindin
Pro
ect
Respiratory Training
Community Food Banks
Hospital
External
{Railings)
Eileen Ferguson Award
Palliative Care
Ophthalmology
Nebulisers
Clinical Handover
BreathTec
Boardroom
MRI
SVDP
Sands
Total
549.000
36,000
2,330
36,800
150,000
527,896
24,981
2,330
6,700
150,000
11,019
30.100
Environment
1,600
10,282
516,563
36,750
659.371
15,000
84,000
1,000,000
23,400
500
3,121,596
1,100
500
10,282
516,563
6,650
406,984
15,000
84,000
1,000,000
6,700
30,100
252,387
16,700
500
341,906
2.758,586
Eileen Ferguson Award
In recognition of the significant vital contribution of the late Eileen Ferguson. a YP Trustee, trE Fund estsblished
an award to be made bi-annually to staff who work in support of clinical teams.
Whether behinrj the s￿neS or in full view of the public, staff who support the Clinical teams in Ihe Mater hospital
are an invaluable and vital part of the multi-disciplinary team. They demonstrate daily professionalism and
kindness. These staff make a significant contribution to patient care, a contribution that is often overl¢)oked. The
Eileen Ferguson award celebrates and recognises the outstsnding contribution of the support staff in the Mater
Hospital. The award will be made every two years commencing 2022 and indude a training bursary for the
winner. The reripient of this award will receive support for trainingleducation. The first award was made in 2023
to Mr Tony Mc Donagh.

THE MATER HOSPITAL Y P FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Flnancial review
The Audited Financial Statements for the year ended 31 December 2023 and Balan￿ Sheet as at date are
attached to this report.
At 1 January 2023 the Gross Worth of the FurKJ was £25.060K and Net Worth was £24,075K after taking into
account Oulstanding Commitments at that date.
During the Year the Fund generated income of £882K in addrtion lo gains on Investments of £1,004K.
Expenditure on tharitable 8ctivib.es amounted to £458K leaving a Net Surplus for the year of £1,427K.
At 31 December 2023 the Gross Worth of the Fund was £26,488K and Net Worth was £23,729K after taking into
account Outstanding Commitments at that date.
All funds are Unrestricted.
Resenies policy
The Trustees have considered the ne￿sSty to create a reseDie wthin the Fund.
In light of the Net Worth of the Fund, the Unrestrided nature of the funds arKI its ready access to liquid funds the
Trustees condude that a reserve is not nec&ssary.
This will be kept under review on an annual basis.
Investment policy
The Trustees have appointed professional Investment Managers to manage the Fund portfolio on a discretionary
basis within defined parameters addressing long temi capital growth, income generation, risk constraints and
ethical and environmental awareness.
The Investment Porffolio is maintained primarity in Sterling as the expenditure and funding of the Fund is
exclusively in that currency.
The Investment Managers report to the Trustees on a quarterfy basis.
During the year the Trustees appointed Broadstone as investment advisors to perfom an investrnent portfolio
review. The review included performan￿ against objectives. perfornian￿ against peer groups, responsible
investment assessment. income and fees. Trustees were pleased y￿th the outcome of the review.
Given the completion of the Broadstone review work and despite the market volatility experienced during the
Year the Trustees are satisfied vlith the perforrnan￿ and management of the investment portfolio of the Fund
during the Year.

THE MATER HOSPITAL Y P FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Risk Management
The Trustees are cognisant of the reality that the primary asset of the Fund is represented by its Investment
portfolio which they endeavour to mitigate any risk in this regard by the retention of professional Investment
Managers.
The Trustees have custodian arrangements in place for the protection of the equities and bonds.
The Trustees are also cognisant of financial risk, thi5 is managed by the appointment of Trustees with sufficient
skill and expertise and by dose liaison with the medical, dinical and other experts within the Hospital.
The Truslees regulady monitor how funded expenditure on capital projects. research and other projects are
developing and by regular consultation with the relevant personnel within the Hospital and third parties. Through
this process they are assured that their technical kno￿edge is upt(xJate and they have the depth of insight and
delail to demonstrate the appropriate utilisation of assets of the Fund in accordan￿ with its charitable purposes.
In 2023 Trustees r￿1Ved presentations directly from recipients of the fund detailing the impact of the investment
on patient care and support of staff
Structure, governance and management
Structure
The Mater Hospital (the 'Hospital ° ) was founded by the Order of the Sisters of Mercy and opened its doors on
the Crumlin Road, Belfast, to the public in 1883 providing. on a charitable basis. the best in care and treatment to
all those in need of it, irrespective of their creed, class or mean5.
At the instigation of the then Father Patrick, later, Monsignor Mullally, a group of local business people set up
the YP Pools ( the name deriving from The Young Philanthropists ) wtth the principal purpose of raising funds for
the Hospital.
Over the years the majority of the funding for the Hoswtal. and that presently remaining in the Fund; derived
almost entirely from the YP Pools. The Hospital was financed principally by this fund until the Government
agreed to admit the Mater to the National Health ser￿￿ in 1972
In November 1992 the Fund was established as a Charitable Trust and in Awil 2014 VRS registered as a Charity
with The Charity Commission for Northem Ireland under Registration Number NIC100084.
Management
The Fund is managed and controlled by a board of Trustees.
Those served during the Year were:
Most Reverend N Treanor
MrA Canavan
Dr P Curran
Dr J Doyle
Reverend Dr P Fleming (Chairperson)
Mrs M Hinds
Mr C G Jenkins
Mr G Hughes
Reverend G Fox
Mr J Fitzpatrick
(Re￿gned 22 January 2023)
{Resigned 31 January 2023)
(Appointed 31 January 2023)
(Appointed 16 May 2023)

THE MATER HOSPITAL Y P FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees receive no remuneration.
Mrs Hinds received an honorarium of £7.500 for secretarial services.
Audltor
Mccreery Turkington Stockman Ltd has indicated its willingness to continue in office for the ensuing year.
Trustees, as a matter of good govemance. have indicated that the audit servitss for the year to 31 De¢ember
2023 will be tendered.
Conclusion
The Trustees are privileged to be charged with the management and control of the Fund vthich was inrtially
contributed lo by the communty in the financially stringent times post the second World War and whc6e
generosity and support of the Hospitsl is evidenced by the fact that their descendants and the communsty
continue to benefit therefrom over some 70 years later.
The Trustees, report was approved by the Board of Trustees.
d l-IKtiV
Mrs M Hinds
Trustee
Dated.. 28 May 2024

THE MATER HOSPITAL Y P FUND
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The TTUStees are responsible for preparing the Trustees, Annual Rep)rt 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 Northem Ireland requires the Trust&s to prepare Financial Ststements for each
financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and
application of resources of the Charity for that period. In preparing these Financial Statements, the Trustees are
required to:
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charities SORP 2019 (FRS 102):
make judgements and estimates that are reasonable and prudent;
prepare the Financial Ststements on the going concem basis unless it is inappropriate to presume
that the Charity will conkn'nue in operats'on.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the fjnancial position of the Charity and enable them to ensure that the Financial Statements comply with the
Charities Act (Northern Ireland) 2008, Charities (Accounts and Reports) Regulations {Northem Ireland) 2015 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.

THE MATER HOSPITAL Y P FUND
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE MATER HOSPITAL Y P FUND
Opinion
We have audited the financial statements of The Mater Hospital Y P Fund (the 'Charity') for the y￿r ended 31
December 2023 which comprise the ststement of financial 8Ctivities, the statement of financral posib.on and the
notes to the financial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the finanaal statements:
give a true and fair view of the state of the Charity's affairs as at 31 December 2023 and of its incoming
resources and application of resources, for the year then ended.
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿.
and
have been prepared in accordan￿ with the requirements of the Chartttes Act (Northem Ireland) 2008.
Basls for opinlon
We conducted our audit in accordance with Inlemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs Trsponsibilrfies for the audit ol
the financial statements section of our report. Vve are independent of the Charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going
COn￿M for a period of at least twelve months from when the finan￿al statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees V￿th respect to going concern are described in the
relevant sections of this report.
other Infonnation
The olher information comprises the infonnatron induded in the trustees annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information contained within
the annual report. Our opinion on the financial statements does not cover the other infomiation and, except to the
extent otherwise explicitjy stated in our report. we do not express any fonn of assurance conclusion thereon.
Our responsibility is to read the other information and. in doing so, consider whether the other infomialion is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or
othemise appears to be materially misstated. tf we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other infomiation, we are required to report that fact.
We h8ve nothing to report in this regard.

THE MATER HOSPITAL Y P FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE MATER HOSPITAL Y P FUND
Matters on whlch we aro required to report by exceptlon
We have nothing to report in respect of the followng matters in relats'on to which the Charities (Accounts and
Reports) Regulations (Northem Ireland) 2015 require us to report to you rf, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the Trustees,
report., or
suffiuent accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records: or
we have not received all the infomiation and explanations VR require for our audit.
Responsibllities of Trustees
As explained more fully in the statement of Trustees, Responsibilrties, the Trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
intemal control as the Trustees determine is ne￿SSary to enable the preparation of financial Statements that are
free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as
a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of
accounting unless the Trustees either intend to ￿ase operations, or have no realistic altemab've but to do so.
Auditors responsibilities forthe audit of the financial ststements
We have been appointed as Auditor under section 65(2) of the Charities Act (Northem Ireland) 2008 and report in
accordan￿ with the Act and relevant regulations made or havtng effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a Who￿ are free from
material misstatement, whether due to fraud or error, and to issue an auditoffs report that inGludes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when tt e￿Sts. Misstatements can arise from fraud or
error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance v￿th lavrfs and regulations. INe design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecttng irregularities. including fraud is detailed below.
We gained an understanding of the legal and regulatory frame￿￿rk applicable to the charity and the industry in
which it operates. We considered the risk of acts by the charity which were contrary to applicable laws and
regulations, including fraud. These included but were not limited to Complian￿ with United Kingdom Accounting
Standards, including Charities Act (Northem Ireland) 2008 ,Charities (Accounts and Reports) Regulations (Northem
Ireland} 2015 and the Charities SORP 2019 (FRS 102).
We focused on laws and regulations that could give rise to material misstatement in the financial statements. Our
tests included but were not limited to=
Agreement of financial statements disclosures to underfying supporting documentation.
Discussions with management regarding speafic lavrfs and regulations that may apply to the charlty
and the impact of any non-compliance on the audit.
Review of minutes of meetings and correspondence throughout the period and after the year end,.
Considering the effectiveness of the control environmenl and monitoring compliance with laws and
regulation
Because of the inherent limitations of an audit. there is a risk that we will not detect all irre9Jlarities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
fiected in the financial ststements, as we will be less likeiy to become aware of instances of nonwcompliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion. omission or misrepresentation.

THE MATER HOSPITAL Y P FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE MATER HOSPITAL Y P FUND
A further description of our responsibilities is available on the Financial Reporting Council's website at.. ht￿8..1/
www.frc.org.ukJauditorsresponsibilities. This description forms part of our auditf*s report.
Use of our report
This report is made solely to the Charity's Trustees, as a body. in accordan￿ with Part 4 of the Charities (Accounts
and Reports) Regulations (Northem Ireland) 2015. Our audit work has been undertaken so that we might state to
the Charity'5 Trustees those matters we are required to state to them in an Auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity
and the Charity's Trustees as a body, for our audit work. for this repor( or for the opinions we have formed.
Mccreery
urklngton Stocknian Ltd
28 May 2024
Chartered Accountants
statutory Auditor
1 Lanyon Quay
Belfast
Co Antrim
Northem Ireland
BT13LG
10-

THE MATER HOSPITAL Y P FUND
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted
funds
2023
Unrestrlcted
funds
2022
Notss
Income and endowments from:
Investments
Other income
868,274
13,565
794,572
1,517
Total income
881,839
796,089
Expenditure on:
Charitable activities
458,475
369,712
Total expenditure
458.475
369,712
Net gainsl(losses) on investments
11
1.0(14,302
{2,608,711)
Net Incomel(expendlture)
1.427,666
(2,182,334)
Other recognised gains and losses:
Other losses
13
(51)
(847)
Net movement in funds
1,427,615
(2,183,181)
Reconciliation of funds:
Fund balances at 1 January 2023
25.060,077
27,243,258
Fund balances at 31 December 2023
26,487.692
25,060,077
The statement of financial activities includes all gains and losses recognised in the year. AJI income and expenditure
derive from continuing activities.
11

THE MATER HOSPITAL Y P FUND
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Investments
Current assets
Debtors
Cash at bank and in hand
14
28,317.221
25,028,669
16
34,380
141,911
23,481
13,827
176,291
37.308
Creditors: amounts falling due within
one year
16
(5,820)
(5,900)
Net current assets
170,471
31,408
Total assets less current Ilabilities
26,487.692
25,060,077
Income funds
nr
icte
fun
General unrestricted funds
26.487,692
25,060,077
26.487,692
25,060,077
26,487.692
25,060,077
The financial statements were approved by the Trustees and authorised for issue on 28 May 2024
Mrs M Hinds
Trustee
Mr G Hughes
Trustee
12-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting pollcies
Charlty infomiation
The Mater Hospital Y P Fund is a charity ￿lStered in Northem Ireland arKI is unincorporated.
1.1 Account5ng convention
These financial statements have been prepared in compliants with FRS 102, The Financial Reporting
Slandard applicable in the UK and the Republic of Ireland.. Acwjnting and Reporting by Charities: Statement
of Recommended Pradice applicable to tharities preparing their accounts in accordan￿ wtth the Financial
Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 and the Charities
Acl (Northem Ireland) 2008). Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 require
accruals accounts to be prepared in accordance with the SORP.
The Mater HospÈtal YP Fund is not required to prepare a Cashflow Statement under section FRS102 s7.1A.
The financial statements are prepared in sterfing, which is the functionaf currency of the Charty. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements are prepared on a going concem basis under the historical cost convention, modified
to indude ￿rtain items at fair value.
1.2 Golng concern
At the time of approving the finanoal statements, the Trustees have a reasonable expectation that the Charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the T￿teeS
continue to adopt the going concem basis of accounting in preparing the flnancial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Designated Funds are unrestricted funds eatmarked by the Trustees for particular future project or
commilment.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the caprtal must be maintsined by the
Charity.
1.4 Incoming resources
Income is rocognised when the Charity is legally entitled to tt after any perfornian￿ conditions have been
met, the amounts can be measured reliably, and it is probable that income wll be received.
Investment income is eamed through holding assets for investment purposes such as shares . It includes
dividends and interest. ￿￿ere it is not practicable to identify investment management costs incurred within a
scheme with reasonable accuracy the investment income is reported net of these costs. It is included when
the amount can be measured reliably. Interest income is recognised using the effective interest method and
dividend income is recognised as the charivs right to receNe payment is established.
13-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting pollcies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third paty, 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 ctassified by activity. The costs of each activty are made up of the total of dir￿1 Gosts and
shared costs, including support costs involved in undertaking each activity. Direct costs attributaNe to a single
activity are all0￿2ted directly to that activty. Shared costs which contribute to more than one activity and
support Gosts which are not attributable to a single actiwty are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs a￿ allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the assefs use.
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which
cannot be fully recovered, and is classified under headings of the statement of financial activrties to which it
relates=
expenditure on raising funds inGludes the costs of all fundraising activities. events. noTrcharitable trading
activities, and the sale of donated goods.
expendlture on charitable activities indudes all costs incurred by the Charity in undertaking activities that
further it5 charitsble aims for the benefft of its beneficiaries, including those support costs and costs relats'ng to
the governan￿ of the Charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the Charty nor part of its
expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource.
Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
Expenditure is recognised where there is a legal or constructive obligation to make payments to tlyrd parties,
it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
1.6 Fixed asset Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction
costs. Subsequently, they are measured at fair value with changes ￿COgniSed in 'net gains I Ilossesl on
investments, in the SOFA if the shares are publidy traded or their fair value can othepwise be measJJred
reliably. Other investrnents are measured at cost less impairment.
1.7 Cash and cash equlvalonts
Cash and cash equivalents indude cash in hand. deposits held at call vrith banks, other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.8 Financial instruments
The Charfty has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Chanws balance sheet when the Charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial ststements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to reallse the asset and settle the liability simultaneously.
14-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Contlnued)
Baslc financlal assets
Basic financial assets, which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction. where the transaction is
measured at the present value of the fLrture receipts discounted at a market rate of interest. Financial assets
classified as receivable wthin one year are not amortised.
Basic flnancial liabilities
Basic f nancial liabilities, including credrtors and bank loans are initially re(x)gnised at transaction pri￿ unless
the arrangement constitutes a finanang transaction. vrfhere the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinay course of
operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised Cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charitys contractual obligations expire or are discharged or
cancelled.
1.9 Taxation
The Chaty is an exempt charity for taxati(￿ purposes.
1.10 Forelgn exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation are included in net incomel(expenditure) for the period.
1.11 Reserves
The Trustees have considered the necessty for the creation of a Reserve wthin the Fund.
In light of the worth of the Fund, the unrestricted nature of the funds held and its ability to readily access liquid
funds the Trustees consider that a Reserve is not required.
The matter )Mll be kept under review on an ongoing basis.
1.12 Public Benefit
The charity constitutes a public benefit entity as defined by FRS 102.
15-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Critlcal accountlng estlmates and judgements
In the application of the Charity's accounting policies. the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevanL Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are reGognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Investment income
Unrestricted Unrestricled
funds
funds
2023
2022
Income from listed investments - Dividends
Income from Fixed Interest - UK
Income from Fixed Inte￿St- Non UK
567,816
267.021
33.437
538,815
218,287
37,470
868,274
794,572
Other Income
Unrestricted Unrestricted
funds
funds
2023
2022
Other income
13,565
1,517
16-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Expendlture on charltable actlvlties
2023
2022
Direct costs
Clinical Handover
ICT Centre of Excellence
Eileen Ferguson Award
Nebulisers
Still birth & neonatal death charity
Foodbanks
SVDP
Wayfinding project
Ophthalrnic Microscopes
252,387
245,790
1.100
30,100
500
30,100
16,700
11,019
45,060
341,906
290,850
sha￿ of support and governance costs (see note 7)
Support
116,569
78,861
458,475
369,711
Analysis by fund
Unrestricted funds
458,475
389,712
Net movement in funds
2023
2022
The net movement in funds is stated after chargingl(creditsng):
Fees payable to the charity's auditor.
- for the audtt of the charity's financial statements
- for other assurance services
3,490
2,250
3,680
2,250
Support costs
2023
2022
Investrnent- management fees
Investment - custodian fees
Trustee's Honorarium
Auditors, remuneration - accountsncy
Auditors, remuneration- audit fee
General expenses
Bank charges
Legal and professional fees
73,978
12.561
7,500
2.250
3,490
490
85
16.215
52,999
11,090
7,500
2,250
3,680
1,295
47
116,569
78,861
17-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
During the year £7,500 was paid to Mrs Mary Hinds for secretarial services {2022: £7,500)
Auditorfs remunerdtlon
The anatysis of auditor's remuneration is as follows..
2023
2022
Audit of the annual accounts
3,490
3,680
Non-audit servlces
Audit-related assurance services
2.250
2,250
10 Employees
There were no employees during the year.
11
Gains and losses on investments
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Gainsl{losses) arising on..
Revaluation of investments
Sale of investments
909,954
94,348
(2,416,780)
(191,931)
1.004.302
(2,608,711)
12 Taxatlon
The charity is exempt from taxation on its adivities because all its income is applied for charitable purposes.
13 Other galns or losses
Unrestrlcted Unrestricted
funds
funds
2023
2022
Foreign exchange gains
52
18-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Flxed asset Investments
Equities Ftxed Interest Fixed Terni
stocks and
Deposlts
bonds £
Total
Cost or valuatlon
At 1 January 2023
Additions
Valuation changes
Disposals
14.646,101
8,067.260
585,121
3,135,156
952.956
51,265
{552.747) (2.086.766)
2,315,308
25,028,669
20.080
3,740,357
30
1,004,251
(816,543) (3,456,056)
At 31 December 2023
15,631,431
9.166,915
1,518,875
26,317,221
Carrylng amount
Al 31 December 2023
15,631,431
9.166,915
1,518,875
26,317,221
At 31 December 2022
14,646.101
8,067.280
2,315,308
25,028,669
Valuation change Is made up of".
Net gainslllosses on investments)
Revaluation of tangible fixed assets
Other gains or losses
909,954
(51)
1,004.251
15 Debtors
2023
2022
Amounts falling due withln one year:
Prepayments and accrued income
34,380
23,481
16 Creditors: amounts falllng due wlthin one year
2023
2022
Accruals and deferred income
5,820
5,900
19-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Unrestrlcted funds
The unrestricted funds of the charty comprise the unexpended balances of donats'ons and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. The￿ include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 January
2023
Incomlng
resources
Resources
expended
Galns and
losses
At31
December
2023
General funds
25.060.077
881.839
(458.475)
1,004,251
26,487,692
Previous year:
At 1 January
2022
Incoming
resources
Resources
expended
Galns and
losses
At31
December
2022
General funds
27.243,258
796.089
(369.712) {2,609,558) 25,060,077
-20-

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Financlal commitments, guardntees and contingent liabilities
2023
2022
Junior Doctors, Room Upgrade
Clinical Handover
Wayfinding Project
Respiratory Training
Community Foodbanks
Hospital External Environment (Railings)
Eileen Ferguson Award
Palliative Care
Ophthalmologic Equipment
Nebuliser Equipment
Breath Tec Project
Boardroom
MRI
SVDP
527,898 384,000
406,984 601,000
24,981
2,330
6,700
150,000
500
10,282
516,563
6,650
15,000
84,000
1,000,000
6,700
10
11
12
13
14
2.758.586 985,000
A complete refurbishment of an area used by consultant medical and junior medical staff along with medical
students and supportive administrative staff. This extends and improves the working environment.
This comprehensive project provided an improved system for dinical handover which has a material impact on
patient safety and workload management for medical staff.
This project aims to review and redesign the way finding system in place in the hospital. Currently the site is very
difficult to navigate and has been a source of cOn￿M to Servi￿ users.
This funding supports a senior nurse access spe￿alISt practice training in respiratory care
This project aimed to support a small number of local foodbanks and thereby some of the staff of the hospital
during a period of significant financial challenge for many families.
This project aimed to improve the extemal environment of the hospital restoring the listed railings and associated
works.
The Eileen Ferguson Award was established to acknowledge the work of staff vtho provide vital support to
patients and families from a range of backgrounds for example administration, catering, finance and technology.
This project supports an initiative to improve the practical care to families who are vith their loved ones towards
the end of life.
This significant investment provides resour￿ to update a wide range of clinical equipment. This investments
supports in particular the Vitreo Retinal ServÈce IVR) which provides a regional service for all vitreoretinal
emergencies and elective surgery for the whole of Northem Ireland.
10 This project provided funding for new nebulisers which have an improved specffication improving the patient
experience.
11 This project provided technology support and li￿nseS for individual patients to aC￿sS education and support for
respiratory conditions.
12 The project supports the refurbishment and updating of the Boardroom and associated room to modem
standards. These rooms are used extensivety by staff for managerial meetings and educational opportunities.
13 This funding provides some support for the installation of a new MRIO scanner. This will benefft the patients of the
Mater Hospital and beyond impacting on waiting lists and help support tetter acce&s to services.
14 This project aimed to supporting St Vin￿nt de Paul Sooety.
21

THE MATER HOSPITAL Y P FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Related party transactlons
There were no disdosable related party transactions during the year (2022 - none).