Charlty registratlon numbèr NIC100236 Company reglstration number N1617518 {Northern Ireland) THE MARY PETERS TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE MARY PETERS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Dlrectors Lady Mary Peters Mr James Kirkwood Mr Ken Nixon Mr Jim Gracey Mr Bary Funston Ms Fionnuala McGrady Mr Keith McGarry Mr William Doggart Mr Robert Calvert Ms Louise Kelly Ms Julia Hastings Mr Paul Martin (Appointed 30August 2023) (Appointed 30 August 2023) Charlty numbfrr NIC100236 Company numbor N1617518 Reglstsred offlce 54 Elmwot)d Avenue Belfast BT9 6AZ Independent examlner Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast Co. Antrlm Northern Ireland BT2 8HS Bankers Danske Bank Donegall Square West Belfast Co. Antrim Northern Ireland BT16JS Sollcltors Cleaver Futton Rankin 50 Bedford Street Belfasl Co. Antrlm Northern Ireland BT2 7FW
THE MARY PETERS TRUST CONTENTS Pago Directors, report Independent examinerfs report statement of financial activitie8 Statement of financial position Note8 to the financial statements 7-18
THE MARY PETERS TRUST DIRECTORS, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The directors present their annual r8POrt and financial statements for the year ended 31 March 2023. The fin8ncial statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial ststements and comply with the company's governing document, the Companies Act 2006 and "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)° (as amended for accounting periods commencing from 1 January 2018) Objectlves and actlvlties The principal objective of the company is the promotion of sport within the province of Ulster within Ireland by- providing financial awards to individuals and groups to assist with competition as amateur{s)', providing support to help the development of skills and capabilities of sportsmen and women to 8nable participation in sport and maximise potential- helping sportsmen and women especially, but not exclusively, through sport so as to develop their capabilities to enable them to participate in society as indepèndent and responsible indivlduals,. anything else considered necessary or expedient to the promotion of sport as deemed necessary by the dlrectors. The dlrectors have paid due regard to guidance Issued by the Charlty Commission in decidiry what actlvities the company should undertake. Achlevements and performance The directors are pleased to report that under the Sports Awards there were 128 grants awarded compared to 101 grants in the prior year. The total amount awarded amounted to £96,000 in the year, as compared to £59,940 in 2022. The directors are grateful for the ongoing support of the companys regular sponsors listed in notes 3 and 18. Flnanclal review The financial results for the year are shown in the statement of financial activities on page 5. Th8 total surplus for the year before gains on investments was £73,601 {2022'. £22,313). A loss on investments of £91,637 was made in the year (2022.. £80,105 gain). The Dlrectors are satlsfied that the Trust is in a strong financial position and can contlnue to help young people achieve their sporting dreams and ambitions in the coming years. Reserves pollcy The company has a reserves policy in pla to ensure it is in a position to continue to make sports awards at a level consistent with or above those which have been maintained in recent years and to cover any contingencies which may arise. The directors consider it is essential to maintain a substants'al level of reserves to enre funds are always available to meet their charitable and other commttments. Designated funds The directors have not designated any of the unrestricted funds for specific purposes at 31 March 2023 {2020: £nil). Rlsk management The directors have assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
THE MARY PETERS TRUST DIRECTORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Financial management risk The company'5 principal financial instruments comprise investments, cash, trade debtors and creditors. The main risks associated with these financial assets and liabilities are set out below.. Llquldlty risk Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. As the company has investments and surplus cash reserves liquidity is not regarded as a significant risk. Interest rate rlsk The company invests surplus cash in deposit accounts which are interest bearing and has no bank borrowings. Accordingly, the directors do not believe that the company has significant exposure arising from interest rate risk. structure, governance and management The Mary Peters Trust was incorporated under the Companies Act (Northem Ireland) 2006 on 25 March 2013, is a company limited by guarantee, not having a share capital. It is also a registered charity. The directors have overall responsibility for ensuring that the company has an appropriale system of internal controls, financial and otheiSe. They are also responsible for keeping proper accounting records 1¢h disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and delection of fraud and Oth irregularities and to provide reasonable assurance that.. the company 15 operating efficiently and effectively- its assets are safeguarded against unauthorised use or disposition; proper records are maintained and financial information used within the charity or for publication is reliable., the company complies with relevant laws and regulations and operates to the public benefit test. The systems of Internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss. They include; a strategic plan encompassing land purchase and refurblshment costs and an annual budget approved by the directors., regular consideratlon by the directors of financial results, variance from budgets, non-financial performance indicators and benchmarking reviews. delegation of authority and segregation of duties where possible wlthln the constralnts of a small charity., and Identification and management of risks.
THE MARY PETERS TRUST DIRECTORS, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The directors who served during the year and up lo the dale of signalure ol the financial 51aiernenlS were Lady Mary Peters Mr James Kirkwood MI Kén Nixon Mr Jim Gracey Mr Bary Funston Ms Fionnuala McGrady Mr Keith McGarry Mr William Do9g3rt Mr Robert Calvert Ms Louise Kelly The recruilrnent ol dir8clors 1$ r8viewed periodically by the 8oard Nomination5 are 50ughl and approved by the 8oard of suilBbl• per5on¥ who have an inleresl In Ihe promotion of arnaleur sport wilhin Ihe province ol Ulster None of the direciors has any beneficial Inleresl In the cofflpany All ol the directors ?rE membefs ol the company and guaran¢ee lo Eonlnbule £10 In the event of a wnding up. Induction and Iraining for new Board members Includes Inforrnalion on background and history ol Ihe organisaiion roles and responsibililies ¢1 8oard rnembers. rode ol conduct. charilable legislation and company poliue5 and procedures Appropnzle Ir31ning and bnEfings are organised wilh exlemal professional advisers In respecl of governance. Iho r8sponsibililie$ of dir8clors And charitie5 legiglalion The D1ClOrS, report vlas approveé t*y the Board of Dir¢clOIS. r James ireclor Mr Barry Funsion Directvr Oale.
THE MARY PETERS TRUST INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF THE MARY PETERS TRUST We report to the directors on our examination of the financial statements of The Mary Peters Trust (the company) for the year ended 31 March 2023. Responslbllltles and basis of report As the directors of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements and you have considered the audit requirement of Section 65(3} of the Charities Act (NII 2008 (the Act). Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)Ibl of the Charities Act- state whether particular matters have come to our attention. Independent examlner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants Ireland, which is one of the listed bodies. We have examined your charity accounts as required under Section 65 of the Charities Act and our examination was carried out in accordance with the general Dir8Ctions given by th8 Charity Commission for Northern Ireland under Section 65{91{bl of the Charities Act. The examination included a review of the accounting rOrdS kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual ilems or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe.. That accounting records were not kept in respect of the company as required by section 386 of the 2008 Act; or the financial statements do not accord with those records., or That the financial statements do nol comply with the accounting requirements of section 396 of the Companles Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland. That there is further information needed for a proper understanding of the accounts to be reached. We have completed our examination and have no concems in respect of the matters11} to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Harblnson Mulholland Centrepoint 24 Omieau Avenue Belfast Co. Antrim BT2 8HS Northem Ireland Dated.. 1£112123
THE MARY PETERS TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestrlcted Restrlcted funds funds 2023 2023 Total Unrestricted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income from: Don8tions and legacies Other trading activits'es Investments 75,753 68,000 143,753 45,220 17,290 62,510 103,796 72,353 103,796 72,353 70,903 69,811 70,903 69,811 Total Income 251,902 68,000 319,902 185,934 17,290 203,224 dl Raising funds 97,262 97,262 75,956 75,956 Charitable activities 81,039 68,000 149,039 54,915 50,040 104,955 Total expendlture 178,301 68,000 246,301 130,871 50,040 180,911 Net gainsl(losses) on investments 12 (91,637) (91,637) 80,105 80,105 Gross transfers beTreen funds 8,046 18,046) Net movement In funds {18,036) (18,036) 143,214 (40,796) 102,418 Fund balanS at 1 April 2022 1,969.181 1,969,181 1,825,967 40,796 1,866,763 Fund balances at 31 March 2023 1,951,145 1,951,145 1,969,181 1,969,181 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financlal activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE MARY PETERS TRUST STATEMENT OF FINANCIAL POSITION AS AT31 MARCH 2023 2023 2022 Notes Flxed assets Inve5trnents 14 1.7 18.435 1 810.307 Curront assets Deblor5 Cash al bank and In hand 21.355 232.563 21 773 206 825 2S3.918 228 598 Cred5tors: amounts lalling due within one year 16 121,2081 169.7241 Nel curr8nl assets 232 710 158.874 Total ass•ts l•ss curr•nt liabilltlo$ 1.951.145 7.969.181 Income funds Unreslricled lunds 1,951.145 1.969.181 1.951.145 1969.181 rhe cornpJny Is enlilled 10 th8 8xernpiion from the audit requiremtnl ¢onlained In section 477 01 ihe Companies Act 2006, for Ihe year endeLY 31 March 2023. The dire¢tors acknowledge their responsibilili¢s lor ensuring Ihal Ihe charily keeps accounling record5 which ¢oniply wilh section 386 01 lh& Acl for preparing financial sialem¢nts which giv8 a Irue and laii view of Ihe stale of affairs of Ihc ¢ornpany as ai Ihe end ol Ihe fin8n¢i¢il year and of 115 In¢oming res¢urces and applicaiion ol rosource5, InclLSding 115 income and expelldiiure lor the financial year In accordance wilh Ihe requirements ol sections 394 and 395 and which olh8rwise cornply wrlh the requiremenls ol the Companies Act 2006 relating lo financial slalemen15, $0 lar as applicable lo Ihe company. The members have nol required Ihe company lo obtain an audit of ils financial slalements lor the year ITF question in accord8nce with Section 47E. These finanial slalemenls have been prepared in accordance with the provisions applicable lo companie5 5ubjeci to the small companies regime. The financi31 statement5 were approved by the Director5 on .1511212023 James Kirkwood ector Mr Barry Funslon Dlrector Company Registration No. N1617S1 B
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charlty Information The Mary Peters Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 54 Elmwood Avenue. Belfast, BT9 6AZ. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the company's Igoverning documenti, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102.) and the Charities SORP "Accounting and Reporting by Charities.. Stat8ment 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 company is a Public Benefit Entty as defined by FRS 102. The company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prèpared in sterling, whlch is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financlal statements have been prepared under the historical cost convention, modified to include the revaluation of ffeehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the dlscretion of the directors In furtherance of thelr charitable objectives. Restricted funds are subject to speclfic conditions by donors 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. 1.4 Income Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Grants received for specific purposes are accounted for as restricted funds. Interest on funds held on deposit is recognised when the amount can be measured reliably by the company, usually upon notification of the interest paid or payable by the bank. Tumover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontlnued) 1.5 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 dIrt 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 beeen those activittes on a basis conslstent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depr8ciats.on charges are allocated on the portion of the asset's use. Expenditure is accounted for on an accruals basis and Includes the attributable input VAT which cannot be recovered. Expenditure is recognised once there Is a legal or constructive obligation to make a payment to third party. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Computers 330A straight Ilne The gain or loss arising on the disposal of an asset Is detemiined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset Investments Fixed asset investments are initially measured at transactlon price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as Incurred. 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term Ilquld investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wthin borrowings In current liabilities. 1.9 Flnanclal Instruments The company has elected lo 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 realise the asset and settle the liability simultaneously.
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) Baslc financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transacts'on 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 future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8asic flnancial Ilabllities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified 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 ordlnary course of operations from suppliers. Amounts payable are classified as current liabllities if paymént 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 amorts'sed cost using the effective interest method. Derecognitlon of financlal liabilltles Financial liabilities are derecognised when the company's contractual obligations expire or ar8 discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are reived. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination beneflts. 1.11 Retlrem8nt beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. crftlcal accountlng estlmates and Judgements In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carying 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 relevant. Actual resutts may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods.
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donatlons and legacles Unrestrlcted Restricted funds funds Total Unrestrlcted RestrScted funds funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts Govemment grant JRS 75,753 68,000 143,753 42,283 17,290 59,573 2,937 2,937 75,753 68,000 143,753 45,220 17,290 82,510 Donatlons and glfts King George Vl Local authoritieslGLL Sports Aid Blue finance Navigator Blue Coca Cola Commonwealth GamesAthlete Alchemy Tech Services Other 4,000 4,000 9,000 3,000 3,900 3,900 6,000 9,000 3,000 6,000 2,000 6,000 3,390 2,000 8,000 3,390 11.000 11,000 3,000 3,000 2,000 2,000 20,000 43,753 20,000 93,753 50,000 36,283 36,283 75,753 68,000 143,753 42,283 17,290 59,573 Other tradlng actlvltlos Unrestrlcted Unrestricted funds funds 2023 2022 Fundraising events 103,796 70,903 10-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestricted Unrestricted funds funds 2023 2022 Evelyn Partners investment Income 66,011 6,342 64,619 5,192 Interest receivable 72,353 69,811 Ralslng funds Unrestrfctsd Unre8trlcted funds funds 2023 2022 Membership schemes and social lotteries Staging fundraising events Other fundraising costs Support costs 4,200 49,475 2,993 31,238 4,200 24,989 261 37,179 Fundraising and publicity 87,906 66,629 li 9,356 9,327 97,262 75,956 11
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charftable actlvltles 2023 2022 Grant funding of activities (see note 8) 101,000 63,330 Share of support costs (see note 9) Share of governance costs (see note 9) 31,238 16,801 37.179 4,446 149,039 104,955 Analysls by fund Unrestricted funds Restricted funds 81,039 68,000 54,915 50.040 149,039 104,955 Grants payable 2023 2022 Grants to institutions Grants to Individuals 5,000 96,000 3,990 59,940 101,000 63,330 12-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs costs 2023 Support costs Governance costs 2022 Staff costs Depreciation Rent Premises expenses stationery and computer Sundry Bank charges 51,277 51,277 46,499 360 20,160 927 5,670 174 568 46,499 360 20,180 927 5,670 174 568 5,143 1,790 3,422 594 250 5,143 1,790 3,422 594 250 Accountancy Legal and professional 5,508 11,295 5,506 11,295 4,446 4,446 62,476 16,801 79,277 74,358 4,448 78,804 Analysed tsetsen Fundraising Charitable activities 31,238 31,238 31,238 48,039 37,179 37,179 37,179 41,625 16,801 4,446 62,476 16,801 79.277 74,358 4,446 78,804 10 Dlrectors None of the directors (or any persons connected wlth them) received any remuneration or benefits from the company during the year. 11 Employees The average monthly number of employées during the year was: 2023 Number 2022 Number Administrats'on Employment costs 2023 2022 Wages and salaries Other pension costs 49,785 1,492 45,167 1,332 51,277 46,499 There were no employees whose annual remuneration Yrds £60,000 or more. 13-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Net galnsl(losse8) on Investments Unrestrlctsd Unrestricted funds funds 2023 2022 Revaluation of investments Gainl(loss) on sale of investments (91.162) (475) 76,075 4,030 (91,637) 80,105 13 Taxatlon The charty is exempt from tax on Income and gains falling within section 505 of the Taxes Act 1988 or sectlon 252 of the Taxationof Ch8rgeable Gains Act 1992 to the extent that these are applied to its charitable objects. 14 Flxed asset Investments Llsted Inveslments Cost or valuatlon At 1 April 2022 Additions Valuation changes Realised gainsl(losses) Disposals 1,810,307 70,803 (26,946) {4751 (135,254) At 31 March 2023 1,718,435 Carrylng amount At 31 March 2023 1,718,435 At 31 March 2022 1,810,307 15 Debtors 2023 2022 Amounts falling due withln one year: other debtors Prepayments and accrued income 9,249 12,106 6,389 15,384 21,355 21,773 14-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 18 Creditors: amounts falling due wlthln one year 2023 2022 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 822 5,536 422 14,428 647 2,548 66,522 21.208 69,724 17 Retlrement benefft schemes Deflned contrlbutlon schemes The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £1,492 (2022 - £1,332). 18 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balanos of donations and grants held on trust for specific purposes.. Movement In funds Incomlng R6sourc•8 8alanc? at re8ourc88 exnd¢d 31 March 2023 1 Aprll 2022 King George Vl Navigator Blue Commonwealth Games Athlete Other 4,000 11,000 3,000 50,000 (4,000) (11,000) (3,000) (50,000) 68,000 (68,000) 'Other restrlcted donatlons At the request of the donors, they have asked to remain anonymous. 19 Analysls of net assets between funds Unrestricted Restricted 2023 2023 Totsl 2023 Totsl 2022 Fund balances at 31 March 2023 are represented by.. Investments Current assetsl(liabilities) 1,718,435 232,710 1,718,435 232,710 1,810,307 158,874 1,951,145 1,951,145 1,969,181 15-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 20 Rèlated party transactions Ramuneratlon of k8y management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation 41,072 39,001 16-