Charity registration number NIC100236 Company registration number N1617518 (Northern Ireland) THE MARY PETERS TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE MARY PETERS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Directors Lady Mary Peters Mr Ken Nixon Mr Jim Gracey Mr William Doggart Ms Julia Hastings Dr Michael McKillop MBE Mr John Rollins Mr Jim Rose (Appointed 30 August 2023) (Appointed 7 February 20241 (Appointed 8 May 2024) (Appointed 6 June 2024) Charity number NIC100236 Company number N1617518 Reglstered office Athletics House Old Coach Road Belfast Northem Ireland BT9 SPR Independent examiner Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast Co. Antrim Northern Ireland BT2 8HS Bankers Danske Bank Donegall Square West Belfast Co. Antrim Northern Ireland BT16JS Solicitors Cleaver Fulton Rankin 50 Bedford Street Belfast Co. Antrim Northem Ireland BT2 7FW
THE MARY PETERS TRUST CONTENTS Page Directors, report Independent examiner's report Statement of financial activities Statement of financial position Notes to the financial statements 7-17
THE MARY PETERS TRUST DIRECTORS. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The directors present their annual report and financial ststements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's goveming 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)" las amended for accounting periods commencing from 1 January 2016) Objectives and activities 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 amateurls)., providing support to help the development of skills and capabilities of sportsmen and women to enable 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 independent and responsible individuals: anything else Gonsidered necessary or expedient to the promotion of sport as deemed necessary by the directors. Public benefit The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake. Achievements and perforniance SignifiGant activities and achievements against objectives The directors are pleased to report that under the Sports Awards there were 159 grants awarded compared to 128 grants in the prior year. The total amount awarded amounted to £104,050 in the year, as compared to £96,000 in 2023. The directors are grateful for the ongoing support of the company's regular sponsors listed in notes 3 and 20. Financial revlew The financial results for the year are shown in the statement of financial activities on page 5. The total surplus for the year before gains on investments was £41,774 {2023- £73,601). A loss on investments of £4,979 was made in the year (2023- £91,637 loss). The Directors are satisfied that the Trust is in a strong financial position and can continue to help young people achieve their sporting dreams and ambitions in the coming years. Reserves policy The company has a reserves policy in place 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 substantial level of reserves to ensure funds are always available to meet their charitable and other commitments. Designated funds The directors have not designated any of the unrestricted funds for specific purposes at 31 March 202412023- £nil). Risk 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 2024 ReseThes policy Financial management risk The company's principal financial instruments comprise investments, cash, trade debtors and creditors. The main risks associated with these financial assets and liabilities are set out below.. Liquidity 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 risk 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 appropriate system of internal ontrols, financial and OtheISe. They are also responsible for keeping proper acmunting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with 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 detection of fraud and other irregularities and to provide reasonable assurance that.. the company is 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 refurbishment costs and an annual budget approved by the directors. regular consideration 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 within the constraints 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 2024 The directors who served during the year and up to the date of signature of the financial statements were- Lady Mary Peters Mr James Kirkwood Mr Ken Nixon Mr Jim Gracey Mr Barry Funston Ms Fionnuala McGrady Mr Keith McGarry Mr William Doggart Mr Robert Calvert Ms Louise Kelly Ms Julia Hastings Mr Paul Martin Dr Michael McKillop MBE Mr John Rollins Mr Jim Rose (Resigned 4 December 20231 (Resigned 20 December 20231 {Resigned 29 January 20241 (Resigned 30 January 20241 (Resigned 6 Dember 20231 (Resigned 30 January 20241 (Appointed 30 Augu5l 2023) (Appointed 30 August 2023 and resigned 10 January 2024) (Appointed 7 February 2D241 (Appointed 8 May 2024) (Appointed 6 June 2024) Recruitment and appolntment of trustees The recruitment of directors is reviewed periodically by the Board. Nominations are sought and approved by the Board of suitable persons who have an interest in the promotion of amateur sport within the province of Ulster. None of the directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £10 in the event of a winding up. Induction and training for new Board members includes information on background and history of the organisation, roles and responsibilities of Board members, code of conduct. chatitable legislation and company policies and procedures. Appropriate training and briefings are organised with external professional adviser5 in respect of governance, the responsibilities of directors and charities legislation. The Directors. report was approved by the Board of Directors. Mr Ken Nixon Director im Grac irector
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 2024. Responsibilities and basis of report As the directors of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statement5 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 Northem Ireland under section 65191(bl of the Chartties Act-, state whether particular matters have come to our attention. Independent examiner'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 Direction5 given by the Charity Commission for Northern Ireland under section 65(91(bl of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items 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 2006 Act,. or the financial statements do not accord with those records; or That the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard 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 concerns in respect of the matters111 to {41 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. Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast Co. Antrim BT2 8HS Northern Ireland Dated:
THE MARY PETERS TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricted fvnds funds 2023 2023 Total 2024 2023 Notes Income from". Donations and legacies Othertrading activities Investments 97.245 69,000 166,245 75,753 68,000 143,753 57,498 75,558 57,498 75,558 103,796 72,353 103.796 72,353 Total income 230,301 69.000 299,301 251,902 68,000 319,902 Expenditure on: Raising funds 83,931 83,931 97,262 97,262 Charitable activities 104,596 69,000 173,596 81,039 68,000 149,039 Total expenditure 188,527 69,000 257,527 178,301 68,000 246,301 Net gainsl(lossesl on investménts 13 (4,979) (4,979) (91,637) (91,6371 Net movement in funds 36,795 36,795 {18,036) (18,036) Fund balances at 1 April 2023 1,951,145 1,951,145 1,969,181 1.969,181 Fund balances at 31 March 2024 20.21 1,987,940 1,987,940 1.951,145 1.951,145 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitles. The statement of financial activities also complies with the requirements for an income and expenditure account under trie Companies Act 2006.
THE MARY PETERS TRUST STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 15 16 1,670 1,864,818 1,718.435 1,866,488 1.718,435 Current assets Debtors Cash at bank and in hand 17 11.856 129.720 21,355 232.563 141,576 253.918 Credltors: amounts falling due wlthin one year 18 (20,124) (21,208) Net current assets 121,452 232,710 Total assets less current liabilitle5 1.987,940 1,951,145 Income funds Unrestricted funds 21 1,987,940 1,951,145 1,987,940 1,951,145 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the Iinancial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to rinancial statements, so far as applicable to the company. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Directors on Mr Ken Nixon Director MrJi Direct cey Company Reglstration No. N1617518
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information The Mary Peters Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Athletics House. Old Coach Road, Belfast, BT9 SPR, Northern Ireland. 1.1 Accounting convention The financial statements have been prepared in accordance with the company'5 Igoverning documentl. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102,1 and the Charities SORP "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 1021" (effective 1 January 2019)- The company is a Public Benefit Entity 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 prepared in sterfing, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the directors have a reasonable expectstion 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 f1nancial statements. 1.3 Charitable funds Unrestricted funds are available lor use at the discretion of the directors in furtherance of their charitable objectives. 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 sel 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 aTnounts 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 deposil is recognised when the amount can be measured reliably by the company. usually upon notification of the inlerest 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 2024 Accountlng polici8s (Continued 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 seltletnent, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single aclivity are apportioned beMeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation 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 paymenl to third paty. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at C05t and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so a5 to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers 330/0 Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and Ihe 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 transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditurel for the year. Transaction costs are expensed as incued. 1.8 Impairment of fixed assets At each reporting end date. the company reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with 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.
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnued 1.10 Financial instruments The company has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Oiher 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 provisians 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. Basic 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 Iransaction is measured at the present value of the future receipts discounted at a market rate of inlerest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangernent 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 effectivè interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transadion price and subsequently measured at amortised cost using the effective interest method. Derecognltion of financial liabilities Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefit5 The cost of any unused holiday entitlement is recognised in the period in which the employee's serVIS are received. Termination benefits are recognised immediately as an expense when the company 15 demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crrtical accounting estimates and judgements In the application of the company's accounting policies, the directors are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptions are based on historrcal experience and other factors that are considered to be relevant. Actual results 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 only that period, or in the period of the revision and future peiiods where the revision affects both current and future perrods. Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts 97,245 69,000 166,245 75,753 68,000 143,753 Donations and gifts King George Vl Local authoritieslGLL Sports Aid Navigator Blue Magill Coaching Commonwealth Games Athlete Alchemy Tech Services Other 5,000 5,000 11,000 4,000 4.000 9,000 3,000 11,000 11,000 9,000 3,000 6,000 8,000 6,000 8,000 11,000 3,000 3,000 20,000 66,245 20,000 116,245 20,000 43,753 20,000 93,753 50.000 50.000 97,245 69.000 166,245 75,753 68,000 143,753 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Fundraising events Book sales 51,206 6,292 103,796 Other trading activities 57.498 103.796 10-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Evelyn Partners investment income Interest receivable 57,743 17,815 66,011 6,342 75,558 72,353 Expendlture on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publicity Membership schemes and social lotteries Staging fundraising events Other fundraising costs Support costs 4.200 32,676 1,377 36.126 4,200 49.475 2.993 31,238 74,379 87,906 Investment management 9,552 9,356 Totsl costs 83,931 97,262 11
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable activities Charitable activities 2024 2023 Direct costs Grant funding of activities (see note 8) 126,050 101.000 Share of support and governance costs (see note 9) Support Governance 36,126 11,420 31,238 16,801 173,596 149,039 Analysis by fund Unrestricted funds Restricted funds 104,596 69,000 81,039 68,000 173,596 149,039 Grants payable 2024 2023 Grants to institutions Grants to individuals 5,000 121,050 5,000 96,000 126,050 101,000 12-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs costs 2024Support costs Governance costs 2023 Staff costs Depreciation Rent Premises expenses Stationery and computer Sundry Bank charges 51,325 823 9.325 839 7.920 1,483 537 51.325 823 9.325 839 7,920 1,483 537 51,277 51,277 5,143 1,790 3,422 594 250 5,143 1,790 3,422 594 250 Accountsncy Accountancy Legal and professional 3,366 2,004 6,050 3,366 2,004 6,050 3,360 2,146 11,295 3,360 2.146 11,295 72,252 11.420 83,672 62,476 16,801 79,277 Analysed between Fundraising Charitable activities 36,126 36,126 36,126 47,546 31,238 31.238 31,238 48,039 11,420 16,801 72,252 11,420 83.672 62,476 16,801 79,277 10 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl{crediting): Fees payable for the independent examination of the Charity's financial statements Depreciation of owned tangible fixed assets 3,366 823 3,360 11 Directors None of the directors (or any persons connected with them) received any remuneration or benefits from the cotnpany during the year. 12 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Administration 13-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees (Continued) Employment costs 2024 2023 Wages and salaries Other pension costs 49,751 1,574 49,785 1,492 51,325 51.277 There were no employees whose anriual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management Personnel was as follows.. 2024 2023 Aggregate compensatio 41,931 41,072 13 Gains and losses on investments Unrestricted Unrestrlcted funds funds 2024 2023 Gainslllosses) arising on.. Revaluation of investments Sale of investments (3,892) (1,087) (91,162) (475) {4,9791 {91,637) 14 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible fixed assets Computers Cost At 1 April 2023 Additions 7,103 2,493 At 31 March 2024 9,596 Depreclation and impairment At 1 April 2023 Depreciation charged in the year 7,103 823 At 31 March 2024 7,926 Carrying amount At 31 March 2024 1,670 16 Fixed asset investments Llsted Investments Cost or valuation At 1 April 2023 Additions Realised gainsl(10sses) Disposals 1,718,435 234,199 (4,9791 (82,8371 At 31 March 2024 1,864,818 Carrying amount At 31 March 2024 1,864,818 At 31 March 2023 1.718,435 17 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 10,000 9,249 12,106 1,856 11,856 21,355 15-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors other creditDrs Accruals and deferred income 604 822 5.536 422 14,428 202 19.314 20.124 21,208 19 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or105s in respect of defined contribution schemes 1,574 1,492 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 adrninistered fund. 20 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors a5 to how they may be used. Movement In fund5 Incomlng Resources Balanco at resources expended 31 March 2024 8alanc8 at 1 Aprll 2023 King George Vl Navigator Blue Magill Coaching Awards Other 5,000 6,000 8,000 50,000 15,000) 16,000) 18,000) 150,000) 69,000 169,000) "Other restricted donations At the request of the donors, they have asked to remain anonymous. 16-
THE MARY PETERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of net assets between funds Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Fund balances at 31 March 2024 are represented by.. Tangible assets Investments Current assetsl(liabilitiesl 1.670 1,864.818 121,452 1,670 1.864,818 121,452 1.718,435 232,710 1,987,940 1,987,940 1.951,145 22 Related party transactions There were no disclosable related party tran5aGtions during the year (2023- none). 17