TRUST FE)ND REPORT OF THE TRUSTEES AND S APRJI 2023 . NORTHERN PEAR1￿ClEs LIMITED TRusf FUIID CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR E14DED 5 APRIL 2023 PaRe I￿821 Aduththdvt tnformxtloll RopLIrt of thè Truste 2 to3 R•port of the Alldltorj 4 to6 ststèw•nt of Fln*n¢lal A¢tlvitl•i Ba]anc• Shoot stst¢ment of C98h llows Notes to the Flll4ndal Statements 10 to 13 NORTHERN PIIARMACIES LIMITED TRUST FUND IEGAL AND ADMtNIThATtVEINFOIiThLiTION FOR YEAR Ef4DKD 5 ATrRIL 2023 TRUSTEES: Gerard Greena Mt¢hael Dr Sheel* Hll14u (Charpezsoll) Paul Kelly Dr Martin Ke Dr Terry Maguire Dthwkillney SECRETARY: Mawknnoy PRINCIPAL OFFICE: 5 ADnth Avenu¢ Btlfost BT7 3JH HMRC Ref: 17A48756 NIQ. 101560 AUDITORS: Baker Tilly Mooney Moore Chartered Certified Accoullt8nts R￿1Stry re50urc8s. The rosults for thp yepr aud fmancial position of tEe tn￿t are Rs shown in the aDngxed fllauciaL stAtemllllts. COVllk19 RESPONSE The Tnth r¢li¢s on strong reserves Carriod fornrd end is sUPPOrted by Nortbem Phar£nactes Llmitsd. A3 tn3st4e3 J ogsuraocts thern is no going concetll i3SUt to r¢poTL TRUSTEES The tsiwte¢$ during the year underrnvigw woro: Sarah Butrows Kelly Dr Terry Maguire Sarah Mawli Michael Hamti Dr Shcelagb Hillall Dr Martin Kthr STATETrfKNf OF TRUSTEESI RESPONSIBILrrrES The Charities Art (Nortkern lrnlaud) 2008 TrquiTr8 tb• trum•S to prepare financial 8tat¢ments for each financial year wbich give a true alld fair view of the state of thir5 of the Gbarity and oethe 5wplus or deficit of the cknity for that Perio￿ In prep￿illg thoae financial stat￿ll￿ts. th¢ tsi]stees ￿ required to select suitsble a¢¢ouLting policies alld theo appty them ¢onsistentlT, make judgements alld estirnale4 that are reasonable 4nd pnLdent' prepare the financial ststements on the going concern basis unlesg it IB in8ppropriats trj presume that the trust wlll contillua in The trust¢¢s are rc5ponsTr)Ic for keeping proper accollllting reGords which disclose wlth reasonable accurw at 8Ly tiLae th¢ fmanciaI positÉon of the tsity and to anable them to eDsure Ihat tkn finaocial $￿t¢￿ellts cornpty with the Charities Act (Northern Ireland) 2008. They are atso r￿onSi￿Le for safegtwdillg the Es8¢ts of th ch￿lty and hence for taking rtasonable steps for the PTiv•ntion det￿10￿ of fraud and other irregularities. STATEtVIENt AS TO DISCLOStJRE OF INFORMATION TO AUDrroRS E¥lL of the Tnutees coufrms tha¢ so far Lq they are aware, there is no rtslévaut audit infolluatiou of wkich the auditors Unaware. Ea¢h Tn￿tee kn tsk¢n all th¢ st¢PS tbey ougbt to have taken &q a Trustee in order to make themselves aware of aoy levant audit iDforntttloL aud to establi8lL th&tthe auditorj are awar¢ of tllat infor[[￿*10 Approved by the truste08 of Northerll Pharmscks Limited Trust Fund on and 51Kned on thelr beknlf by. Sarth Mawhinlley Dakd.. 26th Septe￿ber 2023 Page 3 NORTHERN PIIARMACIES LIMITED TRUST trUND REPORT OF ThE Ai]DITORS TO THE TRUSTEES OF NORTHEBIY PHA111￿CIEs LIMITED TRUSI FtFND FOR THE YEAR ENDED 5 APRIL 2023 OPINION We have audited the 6nallciaI state]nellts of Nortbern Phannwi¢s Limited Trust Fund (the 'ch8tiry') for the year ended 5th Apr 2023 which Conprise Statement of FinatiG￿ Positio￿ Balan¢e Sh¢eL the StatstTr6nt of Cash Fbws an& not•s to tkn fjnattcial statements, iuduaiag a of sI￿1￿C8nt accounting policiw, The Enallcial wortiD8 fram¢work that IL&S bean ￿pIled in Iheir preparntlon fs applicabl¢ law and United KiDgdom Accounting Standards. T￿Illd￿g Financial R¢porttug stslla￿d 102 The Fiuanciai Repottitig Standard appIl￿bIe ill tbe UK ￿ Rtspubli¢ of Irelaad (United Kiu8dom Genorally Acceptsd Accoullting Practice). In our oplnion the finarnci81 stataments: 8ive a true and fair view of the stth of the ch￿8 affatrs a8 at 5th Apdl 2023, and of Its total iu¢omiug xe8our¢e8 and expenditiro ofresour¢¢s, forlhe year then endrf. havo been properly prep￿ in accoT&co with United KIDgdom Gen￿allY A¢¢¢pt¢d Accounlillg Prnctice: and av¢ been ptepgred itl atccfdÈDcewlth tbo requtroments of Ihe Charltiea Act ￿0t￿ern Tzelaod) 2008. BASIS FOR OPJNION We conducted our audit in wrdanet wlth Internatlonai Staodar(L8 on Auditillg (UK) (tSAs (UK)) appllcab16 law. Our rosp0n￿￿11Its¢￿ uuts those Standards are firther de3cnlJed ill the Auditor's rwnJibllitied for the audit of the fijwwial statsments section of ourryrt. We re iadependent of the charity In accordw with the ethical requThll4llts that 8rn relevant to our audit of tha financial 9tatatt￿ts in tho UK incluthg the FRC'S Etbical Standrf w8 hivo IIAlfilled our otlmr ethical respoD8ibilrtios i cordanGe theB¢ Trquirffluents. We bBli¢v¢ audit ¢th¢ w¢ have obtairAedls suffi¢i¢llt alld approprith to provide a basls for our opinion. COliCLUSIONS RELATLYC TO COING CONCERN W¢ have nothing to report iii reyct of the folLowiDg matters Ill rèjadon to the ISAS (LTK) rnquir¢ us to Teport kn you vthore: the knutees, u3¢ of the coucem basis of accounting ia tho preparatlon of the fi￿cial slat¢maJts is not appropriats; trustees havè not disc103ed In th¢ fnanciAI statements any idertified mattsri￿ ullctsrtailltio that MLY S￿IfiCallt doubt about thè charity's abllity to continue to &dopt tho going cmearn basts of acco* for a p¥riod of 41 knst twel frora th date financial stthmonts are autborfsed for i&gu¢. OIEER TKFORMATION Th¢ trustce5 arc TasponsiTrl2 ftjr the othcL iD£onD*Éon. The odKr iDfonnatioi ¢omwises the iJfonDathn included In tho trtthes, annual zeporL other thaa th¢ fillao(iel 2tatauents and our auditorfs report thereon. Our OPiDiOll on dL¢ fjllanclal ststoments doe8 not cover the other iofortaatton au4 except to the extent oth¢rwtsB exp￿rItty 5tat¢d in our wo do not express ally fonn of couu¢thrA Witk our of tha financlal statements. our responthilty ig to read the other infonnttton Ill doing so. Collsidx whother th¢ ctbeE thrrnalion is nmtsrially illconsistont with the fjllBnc1￿ 8t&taments. or our knowledg¢ obtwll￿ Ill the audit or otharwije ¥pp¢arg to b¢ mthriauy misststetL If we identify suth matzriai It￿On￿leS or apprnt matariRt misststements we are WUiTed to detemiiTre wh•dLer tlwrj is a matsIial mlsststeJn¢llt ill th¢ fn8ncial ststthLents or a material misslatement of tlLQ other iDfortnatAOL If, based on ttLe WO￿ we have perfoLine¢ we concludè t]￿t there 18 a rn&terial misstatero¢Tht of this other infozm we 8re req￿ed to rewt that facL We have nothing to ryort in this rega TrL4TTERS ON IllllCH WE ARI REQUlllED TO REPORT BY EXCEPTION We have nothDJg to Teyort iu reswt of the following millers tu relation to wbicll the Cljzriths CAccouuts d R¢ports) Regulations (Nortbetn Ireland) 2015 require u3 to reportto you if, in our opinio . th£ illforn￿ givell the r￿L¢l&L Statefft￿ts is inconsistent ill any nWttt1￿ respectvth the tn￿tr£s report or.. ' sufficiatt accouatin8 rewrds have notbeeu kep¢ or • the fin8ncial statements are not In agreement withthe accounting ￿￿0[as. or . we have notreceivèa ￿ the iu£oru¢itioa and èxplanations we requin for our ￿ld1t Pag¢ 4 rioRTKERNPHARMACIES LI￿￿EDTRusT FUND REPORT OFTHE AUDITORS TO THE TRUSTEES OF FOR TBE YEARENDED 5 APRtL2023 RESPO¥SIBJLrriKs OF TRUSTEES Èxplained more fjklly in the Directors, rospons￿11Ittt0$ statement set out on page l the Directors (who aro also Ihe Th]stees of the ch￿lty￿bIe for tbe PUTPOS¢8 of cixllpauy taw) are r¢sponsiTrle for the preparation of the fin￿la1 5tat¢ll￿￿ and for being 3attsfied that they ￿ve R true and fair view, xud for such internal control as the ttustees detern￿e is nece85fjry to ettable the preparation of financi￿stat￿ne￿1l that are free from rnaterial rnt5Statenwnl wlth due to fraud or ernr. In preparing the fillattci￿ 8tatemonts, the Directors are responsiljle for 8ssesgin8 tho cbaritable compAny's &b￿lty to ¢Ollttnlle &8 a 80ing concem. disclosi￿ ￿ applicdbEe. rnatters rel8tsd to goiog alld usiag the goillg ¢ollcem basis of AccoutLting un1&18 the trust¢e$ Bither Intend to liqwdth the gE￿l￿ble ¢ompaLy or to ce&qe operthlls, or have no reoiistsc altern&tive but to do so. AUDrroRIS RESPONSIBILrriES FOR AUDIT OF FINANCIAL STATKTrJENTS objeGtÈvcs are to obt&tn re￿0]11b[¢ assurance about whether the fjnanciai statements ag a ￿ole are free frorL material illisstatemenl whether due to fraud or ￿rnr. and to ts8ue aTL auditor'8 report that ioclud¢s our opinion. Rea8ollabb ao8uran¢e ts & level of assurau¢4 but ts Lot IE guaralltse that an audit ¢ondu¢t¢d iu accordan¢o witb ISA5 (UK) wlll always dotact a matsrioi rolsstknent when it exists. Mis8tatemeLts cso arlse fronL fraud or Lrror and arn coDsldered Materi￿ if. individualty or ill th aggregate, they could rwonably b• exp¢ctoa io inAuence t&e econornlc deci8i0ll3 of users tAkeD OL the basis of &￿&¢ fill￿1￿1 egularities, illGluditLg fraul are ID5tauce8 of lloll-coTrplianc• with laws r¢8ulatioll& We disi8n pro¢edure5 in JitLe with our respoll8foilittes, outlined above, to d¢t¢tt ￿￿￿la1 mlsstatenLents ill respert of irrosujaritles, IneluJkn8 fraud. The spocific procedllres for this engB8emeDt and the extent to which tlTrse arn capAble of det¢cttng irregularities. including fraud is dotsiled below: We ¢onsidar¢dthe opportunities and ineentives thllt wlthln th¢ orgaDtsatioll for tsd and Idelldfiod the ￿$t pot¢nti&l for fraud in 2elatioD to r•v￿lle reco￿￿0￿ In conrnon with &ll audtts ullts ISAS (UK), ￿ llre a150 rEquired to pth specifi¢ procedures to respond to th• risk of maaag¢ment overrlda. We also obtained ￿ undez* of &LO legal and re8ulatory fr8uMYorks that the charitable C¢)rnpatLy operths fo¢usillg on wovisions of those laws alld reguIations that had a direct effoct ou the d£teEmlnatioll of mutsrial aTnouDts Ènd disclosurns ill th• fjllancial statsments. The kny law3 and r¢8ulationJ we ccD3idered ill cont¢xÈ Included tho UK Companie8 A¢ a￿d The Ch8ritikY Act (Northorn Treland) 2022. In additio￿ w¢ considered provislons of other laws aDd tegulotions dL&t do not hav¢ a threct effert oll the fll8ncial statements but pJian¢e with wbi¢k Lllay be a￿dam¢￿tal to the Company's ab￿￿ty to operate or to avoid a material pen81ty. These An¢lud¢d eomp]ian¢e with Fioanoial Conduct Authority rnguIll1ion for the UK operating seglleDt alld corop11￿ce with locat legisEation for tbe ovff3e&s oporating 8¥llellts. Our PTo¢edures to respond to risks itsntified ID¢Lud¢d the following: rovi￿1￿8 the Snau¢iaE statenlent disdo8uxes aud testill8 to mpporting documentstiQEL to wess COfLpliallce with provisi¢)nJ o relevant laws regulations des¢nBed ￿ having a direct e£Fcct on the fJn2nci&I statements" ' enquiiiDg ofman2gertLent and external legd coun3eI con¢ernillg a¢￿￿1 and potsllti&i Ittigation claitus; ' perfoTmttt8 anaiytica] prOced￿e$ to identAfy any unusuat or unexpectsd relationships Ell&y indicate risks of material misststement due to frau¢. athg ll]inut¢3 of m¢etillgs of &ose chaT8ed witlL 8ovemanre, i¢viewin8 illterllal audit reports and reviewing regulatory correspondooce. ' ill addressing thé Tisk of fraud through management oveTride of controls. testing the appropriatelless of journal entrie5 alld othcr adjustments: 8S8eSsing whether the Ju￿e￿Iellts made in making accoullting estimates are ladicadve of a potenti81 bios. and evaluating the rationalo of any sigaificant trdnsactions tILat are unusu81 or outside the llor￿1 ¢oLrse of bwsinesg. Page 5 NORTKERN PKIRMACIES LIMITED TRUST FUND REPORT OF THE.AtIDllORS TO TifE TRUSIEES OF NORTHERN PHAIIMACIES LtwrED TRUST FUND (coL4rrINttED) FOR THE YEAR ETrIDED S APRIL 2023 AUDITOR*S RESPONSIBtUTIES FOR AUDTT OF THE Fll¥ANC￿ STATKMENfs ...eootlnued We also rclcvant identified laws and re￿lIationS and potential fr￿d risks to all ensagement t¢ara ￿￿be[S and Tell￿1￿d alartto ally i￿1¢211(￿￿￿fralld or ncocornpliaticewlth jaws and regulatiODS tbrougbout the audiL BecaTJSe of tho Ithre￿ litaltstioDS of an audit. there is a risk that w¢ wlll not detert all irylaritits8. Including those ieadlng to a mataial mi98tAtenLellt th8 financiat 5tatetllents cf Don.compJiauc• with resutstioL This tlsk illcrease8 more that GOEnplianc6 with a law or regulation is removed from the events and traJsactiOD3 retlectsd ID the financi￿ stat￿lenty, as w¢ wlll be le3a I￿ety to become awarn of instsncos of non￿OMpEl8￿Ce. The risk is also greater reg£T￿ im8ulaTitles occu￿1￿8 due to fraudrather th8ll error. ay fraud Involvos intontional concealrnen4 for8¢ry, Collus1￿ omlssio4 OrmiSrepre8￿t9ttoD. We comrnunicats wtth thoso charged wttb 8uvBrn8nc0 r¢grdlli& Èmong other matter4 audit findings. I[￿￿dIng ally Si8nificallt &firiellGles intcool control that we Identify dwillg our audlt A firthor d&8crfpthn of our re3ponstbJliti&8 ts avalIable on the Fknial Repoty Couucil'8 webstte at: httyS:lA￿yW.fr¢.QTg,￿kl0￿.WorkIAUdtiIAlldIt.ana-a9Sur5llrc1std￿dard6-ar(d.BULdattce/Standth.aUa-gllIdanC¢.f0r. auditorslAud1tor&re8poJs￿ll1tie$.fj￿￿lldl￿DQ8Cripts0a-Of.1lld1torS.￿5POnS1bIIill¢s-for-a￿1it.￿spx. This a¢s￿IFtion forms part of our auditor's raporL USE OF OURRKPORT This r¢port ib made sokty to the ¢haTity'S th￿￿¢￿ 18 & body, In Ic￿? with section 65(2) of the CIiarities Act (Nortbèm Irolalld) 2022. Our audit lJ&¥ bwL ottdortskan yo thatw¢ *t stato to the thity's tsTJstsoy tEose matters we 8rn required to stats to thom In an auditor's ryort and for no other purp08e. To th¢ fjjllest extsnt pOrn￿tted by l&w. we do not accept or A&8ume rospDn5111iltty to anyon¢ othèr thdll the ¢lwity alld the charity's trustse4 as a body, for our ￿dit work, for this report or for the opiniLmS wo havo formed. Baker Tilly Moolloy Moote Rots¢red AuditOT 17 CI8r¢ndon Road Clarendon Dock Be]f&qt BTI 3BO Dats: 26th S¢ptember2023 Baker Tilly Moortry MoorB is eliO)le to &L* as Rn auditor In t•nns of 8ectioll 1212 of the Compllnies Art 2006. Pag¢ 6 NORTHERN PEARMACIES LIMtTED TRUST FUND STATEMENT OFFINANCIaLAcTIV￿IEs FOR YEARENDED 5 AFRIL 2023 Unrestricted Fund8 Restrittèd Funds Totsl Fullds 21123 Totsl Funds 2022 Note8 Xncom• InV￿Ollt incon 40,612 40,612 28.512 Total Inoome 40,612 40,612 30,103 Expendltur¢ Cost of Ra?SiLg fjjnds Expend[￿0 on Charitible activities 10,048 54034 10,048 9,130 54.034 74,071 Total Kxpendlture 64,082 64.082 83201 Not oxp•ndttur¢ (23,470) (23,470) (54,689) Gakns/(Losses) on tnvestsnent 8&86ts Re￿ISed 03) (46.431) (69,914) (13) (4Q431) (69,914) 1.878 51,978 (833) i¥¢t ￿0veMent In fundj Ro¢oncllladoo of Funds: Balances brovght forward 6 April 2022 Bajalltes tarrled forw8rd 5 Aprll 2023 1,077J17 1,077,317 1,007,403 1,078,150 1,007,403 1,077,317 Page 7 NORTEIRRN PHARMACtES Li￿rED TRUST FIIND BALANCE SBIET S APRIL 2023 21ll3 2022 Notss 911J13 145,074 1.044,452 145.074 InveSt￿ent Propety 65.482 19,666 CRED￿0￿5 OUDts fRUllig due wtrhlll one yèar Deferred Conslderndon (4200) 19 (1.800) NET CL]RR￿ ASSETS ToTAL￿ETs LESS CURRENT 1,107,681 I.IY2,504 A￿o￿nts hlkn8 due aft￿Mor¢ than Qllg aOOJ97) (11S,185) TOTAL ASSETS LESS LIABILftlT8 IIY77319 1.007J84 1,077319 TOTAL FUNDS Ib fjnffjcl￿stAtsm8llts war6 awhorysed fc¢ i&8uè by tha trustses on 26& Septoniber 2023 Ind si8ned on tlwr bebaTfby: iir She¢iagii }IllaL Page 8 NORTHERN PE4RMACIES LI￿TED TRUST FUND STATEL￿￿ OF CASHFLOWS 5 APRIL 2023 Tot41 Funds 2023 Tolai Funds 2022 Re¢oDclll*tlou of net movemellt lu fullds to eash flow from operathJ£ actfvttles Net Enovemellt in (69,914) (40,612) 46,431 2AOO (833) (28.512) (51.978) (1,441) (82,764) Deduct intere4t incomé Hhovm in Investing activitie8 Add back losses I deduct (gains) on inv¢8ts¢llts fn¢raase l (Decre&ge) An qethtt) N•t used ill oporathg aotlvitie8 (61,695) Not eash used In op¢ratinE actfvltleg C￿kfl¢￿fvOm Ixyesthg fxtivltt (61.695) (82.764) 40,612 186,164 (109,376) 28,512 415.826 (348,628) (145,074) 130,074 80,710 Pmc¢¢ds from sal8 of illvesttnellts Cost of inveslm&nt propety Increasol (T)ecre&s?) in other (xediton Net e&8h provkléd by Inv¢sthi8 Aetivities (9,889) 107AII Change th oa8h and ¢48b eqllivolents 45,816 (2,054) CoslL and cash ¢quivakllt brought foTrvard 19,666 21,720 Cash aod cash equlvalènt catried forwArd 65,482 19.666 Page 9 NORIHERN PIIARMACtES IJMfiED TRUST FUND NOTES TO THE FtNANCIaL STATEMINTS FOR YEAR ENDED S APRIL 2023 AccouNfJNG POLICtES Basts ofprèparlllg tkne IlnAneknl statsments The 6nallcial Stat8￿¢llts have been prep￿0d under the historlcal coat convolltion ill 2ccordauce with A¢¢ouDttag aud Roporting by Charitsas: Statement of R6¢omrnendod ￿aCtice applicable to charitECS pryaring their accounts in a¢cordauce with the FlJan¢ial BApoth8 Standard applicable in the UK alld Ihe Republic of Ir61and (FRS 102) (offtctive l January 2019) - (Charities SORP (FRS102)) aud tho FI]￿la1 Rewting Standard app]i¢oble in the UK Ropublic of Treland RS 102). Iueom¢ r¢eollnfitiOll All incomo is rocosnised once the clwity has elltfftttementtothe income, it 13 wbabb that tbe it￿¢ will b• rvceived and th¢ atnoullt of illcon￿ rtteivable c8n be m•asurndreliably. Donadons 8lld bequests are It￿l￿ded Ill in the Statoment of FillaDclal Acttvitto8 011 iNtial rewpt by the cbarity. IllvesttuAt ill¢0￿9 is included wkon recelvable. Expendlture reeognttlon Liabllitses are [￿Qgo18ed Ag reS0￿ce4 expended a¥ soon as there is a tegal or ￿$trUCtive obkgation cottllnltdn8 tbe chadty tL) that oxppnthtilll t¢ ts more lthety than Dot that a tron8fer ¢f economlc benefits will be nqUiTed and tho &tllOUUt cau be rneajured orestimated reliabty. All ¢xpth 53 accounted for on an accruals bastg. IIDanclal Instrum¢nts Tho charity Onty b&% fillallcial a93ets and financlol Ilabllities of a killd that quRlify as b081¢ fillallcial iJJ5trungnts. Basi fiDwial instrunllnts aro ill1￿&1￿ rncogoi8od at trlosaction value aELd subsequentty measur0d at ther settlem￿t vaLu•. TAX*tIoTh Thore ts no liabthty to tauticn due to the tru8Vs charitabb Sta￿5. Costs of raljlllg touds The cost ofTaiBill8 Ilwds cottJ18ts of inYe3tDiènt mallageraent fee& Charltable 2ctivltie$ Costs of charAtsble activities Com￿1&& costs u8ociatsd wit& tho edu¢8tiOll of students alld members of tbe pharmac￿￿e41 Profwion alld costs ofresearch tll pharyn&ceutiC21 mattets. Fil￿ gsset iuveJ*ments Investraents are Initially recO￿￿ed at trausaction pth?. Subsequejtfy they are m¢&sured At fair vallle using thv ¢108iDg quotsd rn￿k¢t price ￿ at the balan￿ sheet dats. The siat4ment of fiDaucial acttvtiles in¢llldes the n¢t gaius md losses 2riBin8 on revaluatioll and dispo￿15 throughout the yor. RtaliJ¢d galas and laq All geins and losses Aro takon to the Jtatemellt of financi￿ actiVAties as tbey ￿lse. Re&tiged gains pnd losseg on inves(￿ellts aTe c&icul*ed as th¢ diff￿gn￿O between sales proceed8 and opening Ma￿et valuo (oi purchas• dats If Jater). Untealknd gains alld10558s are rAl¢ulated as tbe diff¢r￿c? between the mrket value at the year ead and openins matht value (orpur¢ha8e dats if later). Fund Aceountlll8 The COU￿8￿Y vtirious typis of fiwds for whidL it is respon￿7)1￿ and which require sepnrate disclosutp. The3¢ are follow¥. {1) Reltrlcted Tunds re¢eived wbich are desi&natsdbythe donor for 5pe¢ifi¢ puryises. Sueh purposes 8re witbits the overall aims of org&llisat20n. (Sfj Unrestricted Funds Fuud8 whlth are expondablo at the disLYeÈiDn of Ihe charity tlrtb¢ran¢¢ of the objects of the chRrity. Page 10 NORTHERN PHARMACtES LllWITED TRUST FUND NOTES TO THE FJNANCL4L STATEBi&wrs FOR THE YEAR EIYDED 5 APRIL 21123 STL￿￿￿T ￿COm￿ Unr¢strlded R&¥tricted Funds Total Funds Total Funds 2023 2022 Dividendg 30,873 134 2,405 27,942 263 307 134 1405 7200 A¢cumulation share8 rec'd lientsl In¢ollLe Unrostrlcted Funds Restrleted TotAI Fund8 TotAI Fundg FulldJ 2023 2022 Costs of rAl8lng fiwds tnveslment Property Tllsur8ttce Investtllent Man&geTrent fee5 1.121 Ullr¢strie*ed Follds Restrlcted Total Funda Totsl Fund5 Fwid$ 2023 2022 Cb8rltabl? ￿PendItUre NASS Marie Curi¢ Hosplce Haetnoc&roLithsi5 UK UCA pre reg course iilsterutiiversity Prize Sponsorship Savirx DeVelOp￿Ont FI￿ac1st e05ts Air Anbulance 3,900 20,033 7,500 16,950 20,815 2Q815 18,000 1000 5203 2.000 1400 2,000 5203 2,000 22,110 70,493 Governance colts Audit f¢es BaDk ¢h Tntereat on deferred i¢leration 2,400 100 112 1,400 2,40G loo iioo iio 1,400 1004 6,016 Solicitor5 Fres 1,368 78 64￿82 64,082 83201 P8ge li NORTHERN PHATrMACtKS LIMtTED TRUST FIJND NOTES TO THE FINANCIAL STATEMENrs FOR TIIK YEAR ENDED 5 APRtL 2023 NET INCOMING RPSOURCES Net Trsources expelldtd ts statsd after cbar8illS: 05.0423 05.0422 Alldt fees loo TLXaTION No prov131on is required eorlaxatioll du• to the trues charitable 3tatU8. 0&04.23 05.04.22 Market valu¢ at 6 Apzll 2022 1,044,452 1,059.671 Acquisittons at cost spoaa]8 at ¢allyDg value Net (Lo83) l Ga?n oo rtsvaluatio 109,356 (18fj151) 349,797 (415.826) Marknt vatuo at 5 April 2023 HistoricAI cost It 5 Apnl 2023 635 498 CREDrroRS: AMoYJwfs FAILllYC DUE TrvmItN ONI YEAR 0S.OrfL23 05.0422 4200 19 1.800 Defetted Conbiderntloll 05.0423 05.0422 Defend Consideration loo li Poze 12 NORTHERN PllARMACtKS LINllTED TRUST FU￿D NOTES TO THE FINANCtAL StATEMENTS FOR YEAR Ef4DED S APRtL 2023 ATrIALYSIS OF FUNDS Unrestrfftcted Funds ReJtricted Fullds Totsl Funds At 6 April 2022 Net llLovment for the year 1,077,319 (69,914) 1,077J19 (69,914) At3￿2023 1.007,405 1,007,405 IIELATED P&RTY TRANSACTIONS The> trustses of Nortb8rn PhamiaGie8 Limited Thut Fund with tke exGeption of Gerard Greeue and SaralL BU￿ow5 a]so tsectors of Northern PbRrm&cles Llmlte(L The tnL%tees reeeived ao renLuneTation for their services. Relatsd pty traTtBactlons dwiag Ibe year Trlating to Northern PhatttLacie5 Ltd totslled £5203 (2022 -£22,1 LO) for payment rolating to pharmactst Costs for seTViC¢ development proj•¢ts. Thb figur• dec￿￿¢& during the year beills on maternity leavo. DF* the yeArNorkn Pbatroades Tpjst Ltd paid off part of a credltor bthice owed to Northern Pharmaclès Ltd ill r8latiOll to th¢ purcbage of a propety. This reditor is to bts paid off ov¢r 10 year5 from the date of purchaso of the Investsllellt propety. North¢rn Pharniacles TtUSt Ltsl aI80 dwgod rent to N(xthan PharmacieB Ltd for the us• of an illvestuitnt propety. The t for tbe year £7200. 10. ELVIPLOYEE COSTS wern llo employee8 during the yoar. Page 13