NORTHERN PHARMACIES LIMITED
TRUST FUND
REPORT OF THE TRUSTEES AND
FINANCIAL STA TEMENTS
FOR THE YEAR ENDED
S APRIL 2024
REGISTERED NUMBER: N1007549
CHARITY COMMISSION for NORTHERN IRELAND REGISTRATION NUMBER: 101560

NORTHERN PHARMACIES LIMITED TRUST FUND
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Page
Legal and Administrative Information
Report of the Trustees
2 to3
Report of the Auditors
Statement of Financial Activities
Balance Sheet
Statement of Cash flows
Notes to the Financial Statements
10 to 14

NORTHERN PHARMACIES LIMITED TRUST FUND
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024
TRUSTEES:
Sarah Burrows
Gerard Greene
Michael Hamill
Dr Sheelagh Hillan (Chairperson)
Paul Kelly
Dr Martin Ke
Dr Tery Matsuire
John Raymond Anderson
Stephen Slaine
Edel Etherson
Sarah Mawhinney
SECRETARY:
Sarah Mawhinney
PRINCIPAL OFFICE:
5 Annadale Avenue
Belfast
BT7 3JH
CHARITY NUMBER
HMRC Ref: XN48756
CCNI= 101560
AUDITORS:
Baker Tilly Mooney Moore
Chartered Certified Accountants
Registered Auditors
17 Clarendon Road
Clarendon Dock
Belfast
BTI 3BG
BANKERS:
Ulster Bank Limited
91193 University Road
Belfast
BT7 ING
INVESTMENT MANAGERS:
Evelyn Partners
The Ewart
3 Bedford Street
Belfast
BT2 7EP
Page I

NORTHERN PHARMACIES LIMITED TRUST FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their annual report together with the audited financial statements of the fund for the year ended 5th April 2024.
The financial statements have been prepared in accordance with the policies set out in note I to the accounts and comply with the
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) (effective l January
2015).
REFERENCE AND ADMINISTRATIVE DETAILS
Northern Pharniacies Limited Trust Fund is constituted under a Trust Deed dated 28 November 1977 and is a registered charity
(HMRC No. XN48756), (Northern Ireland Charity Commission.. 101560) whose principal office is at 5 Annadale Avenue. Belfast.
The trustees who served during the year are given on page 3 and particulars of the charlty's external advisors are set out on page l.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust is an unincorporated trust, constituted under a trust deed dated 28 November 1977. The Trnst was established by initial
subscriptions for its charitable objectives. The Trust does not actively fundraise and seeks to Continue its charitable work through
the careful stewardship of its exRsting resources.
The Trust Deed provTrdes for a minimum of three trustees, to a maximum of eleven trustees. The power of appointing new trustees
is vested in the existing trustees and their survivors. Additional trustees may be appointed at any time provided the maximum
number of trustees is not exceeded. The Trustees of the Board have agreed to review and update the "Deed of Trust" and have
taken infomied legal advice on this matter.
The Board meets fornlally four times a year and agrees the broad strategy and areas of activity for the Trust.
The Secretary is responsible for the day to day management of the trust's affairs and for implementing the policies agreed by the
Board of Trustees.
OBJEcfivES AND ACTIVITIES
The Northern Phamiacies Limited Trust Fund provides:
funding for charitable funds, associations or institutions with a connection to the Pharn]a¢y and healthcare professions-
support for pharmacists and health professionals and funding for the training, research and education of students and those
in the phannaceutical profession in Northem Ireland- and
support for activities designed to educate the general public in health matters.
GRANT MAKING POLICY
The Trust Fund has a policy of issuing grants in accordance with its charitable objectives. All such payments receive approval of
the trustees.
ACHIEVEMENTS AND PERFORMANCE
UCA Leadership Course Sponsorship
Sponsorship was provided for the UCA (Ulster Chemists Association) leadership pre-reg course in the year.
Service Development Pharmacist
The service development pharn]acist role was resumed during the year working with the HSCB on projects in the community
phannacy setting. A report on the cough and cold project published in the pharn]aceutical journal was made possible by this role in
prior years. This study could not have been done without the support of the trusl and the role of the development phannacist. The
development pharmacist role is now involved in a study working on an obesity and diabetes management project.
Page 2

NORTHERN PHARMACIES LIMITED TRUST FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
ACHIEVEMENTS AND PERFORMANCE cont'd
FINANCIAL REVIEW
During the year to 5 April 2024 the Trust generated a positive net movement in fvnds on its financial activities of £56,862 (2023:
Negative Movement £69,914). Incoming resources of £54,165 were an increase of £13,553 on the £40,612 achieved in the
previous year.
RESERVES POLICY
The Trust's policy is to achieve a level of reserves which matches the needs of the Trust both at the cutrent time and in the
foreseeable future. They aim to maintain free reserves in unrestricted funds at a level which equates to approxirnately six months
unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for
grants and to ensure that there are sufficient funds available to cover support and governance costs.
INVESTMENT POLICY
The Trust has engaged Evelyn Partners as investment managers to pursue a policy of maximising income whilst maintaining some
apital growth.
PLANS FOR FUTURE PERIODS AND REVIEW OF BUSINESS
The trust plans to continue the activities and objectives outlined above in the forthcoming years subject to satisfactory resources.
The results for the year and flnancial position of the trust are as shown in the annexed financial statements.
TRUSTEES
The trustees duiing the year under review were:
Sarah Burrows
Gerard Greene
Michael Hamill
Sarah Mawhinney
Dr Sheelagh Hillan
Dr Martin Kerr
Paul Kelly
Dr Terry Maguire
John Raymond Anderson
Stephen Slaine
Edel Etherson
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Charities Act (Northern Ireland) 2008 requires the trustees to prepare financial statements for each financial year which give a
true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those
financial statements, the trustees are required to
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going concern ba515 unles5 It is inappropriate to presume that the trust will continue in
business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the
financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act (Northem
Ireland) 2008. 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.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
Each of the Trustees confinn5 that. so far as they are aware, there is no relevant audit information of which the auditors are
unaware. Each Trustee ha5 taken all the steps they ought to have taken a5 a Trustee in order to make themselves aware of any
relevant audit inforn]ation and to establish that the auditors are aware of that infonnation.
Approved by the trustees of Northern Pharmacies Limited Trust Fund on and signed on their behalf by:
Sarah Mawhi
Dated.. .2 0.
ne
Page 3

NORTHERN PHARMACIES LIMITED TRUST FUND
REPORT OF THE AUDITORS TO THE TRUSTEES OF
NORTHERN PHARMACIES LIMITED TRUST FUND
FOR THE YEAR ENDED 5 APRIL 2024
OPINION
We have audited the financial statements of Northern Phannacies Limited Trust Fund (the 'charity') for the year ended 5th April
2024 which comprise Statement of Financial Position, Balance Sheel the Statement of Cash Flows and 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 of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charity's affairs as at 5th April 2024, and of its total incoming resources and
expenditure of resources, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and
have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements
section of our report. We 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 sufficient and appropriate to provide a
basis for our opinion.
CONCLUSIONS RELATING TO GOINC CONCERN
We have nothing to report in respect of the followiniF matters in relation to which the ISA5 (UK) require us to report to you where..
the trustee5' use of the going concem basis of accounting in the preparation of the financial statements is not appropriate.
or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant
doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve
months frorn the date when the financial statements are authorised for issue.
OTHER INFORMATION
The trustees are responsible for the other information. The other information comprises the information included in the trustees,
annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does
not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other infomiation and, in doing so,
consider whether the other infonnation is materially inconsistent with the financial statements, or our knowledge obtained in the
audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to detennine whether there is a material misstatement in the fmancial statements or a rnaterial
mtsstaternent of the other information. If, based on the work we have perfornied, we conclude that there is a material misstatement
of this other inforn]ation, we are required to report that fact.
We have nothing to report in this regard.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters in relation to which the Charitie5 (Accounts and Reports)
Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion:
the infortnation given in the financial statements is incon51Stent in any material respect with the trustees report or..
sufficient 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 infonnation and explanations we require for our audit.
Page 4

NORTHERN PHARMACIES LIMITED TRUST FUND
REPORT OF THE AUDITORS TO THE TRUSTEES OF
NORTHERN PHARMACIES LIMITED TRUST FUND
FOR THE YEAR ENDED 5 APRIL 2024
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Directors, responsibilities statement set out on page 3. the Directors (who are also the Trustee5 of
the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for
being satisfied that they give a true and fair view, and for such internal control as the trustees deterniine is necessary 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 Directors are responsible for assessing the charitable company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
the trustees either intend to liqutdate the charitable company or to cease operations, or have no realistic alternative but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL ST ATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes 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 it exists. Misstatements can arise from fraud or e￿or and are considered material if, 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.
I￿egularitIes, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our
responsibilities. outlined above, to detect material misstaternents in respect of irregularities, including fraud. The specific
procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed
below..
We considered the opportunities and incentive5 that may exist within the organisation for fraud and identified the greatest potential
for fraud in relation to revenue recognition. In common with all audits under ISAS (UK), we are also required to perfonn specific
procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the charitable Company operates in. focusing on
provisions of those laws and regulations that had a direct effect on the detennination of material amounts and disclosures in the
financial statements. The key laws and regulations we considered in this context included in The Charities Act (Northern Ireland)
2008.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the ftnancial statements but
compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.
Our procedures to respond to risks identified included the following..
reviewing the financial statement disclosures and testing to supporting documentation to asse55 complRance with provisions of
relevant laws and regulations described as having a direct effect on the financial statements-
enquiring of management and external legal counsel concerning actual and potential litigation and claims.
perforniing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material
misstatement due to fraud.
reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing regulatory
correspondence.
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and
other adjustments. assessing whether the judgements made in making accounting estimates are indicative of a potential bias.
and evaluating the rationale of any significant transactions that are unusual or outside the nonnal course of business.
Page 5

NORTHERN PHARMACIES LIMITED TRUST FUND
REPORT OF THE AUDITORS TO THE TRUSTEES OF
NORTHERN PHARMACIES LIMITED TRUST FUND (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS ...eontinued
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and
remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.
Because of the inherent limitations of an audiL there is a risk that we will not detect all irregularities, 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 reflected in the financial statements, as we will be less likely
to become aware of instances of non-compliance. The risk is also greater regarding iTregularities occurring due to fraud rather than
error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
We communicate with those charged with governance regarding. among other matters, significant audit findings. including any
significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
httPS:Ilwww.frc.org.uklOur-Work/AuditlAudit-and-assurancelStandards-and-guidancelStandards-and-guidance-for-
auditors/Auditors-responsibilities-for-audiUDescription-of-auditors-responsibilities-for-audit.aspx. This description forms part of
our auditor's report.
USE OF OUR REPORT
This report is made solely to the charity's trustees, as a body, in accordance with section 65(2) of the Charities Act (Northern
Ireland) 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to
state to them in an auditor's report and for no other purpose. To the fullest extent pennitted 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 report or for the
opinions we have fornied.
Baker Tilly Mooney Moore
Registered Auditor
17 Clarendon Road
Clarendon Dock
Belfast
BTI 3BG
Date..
Baker Tilly Mooney Moore is elioible to act as an auditor in tenns of section 1212 of the Companies Act 2006.
Page 6

NORTHERN PHARMACIES LIMITED TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating the Ineome and Expenditure Account)
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
Funds
Restricted
Funds
Totsl Funds
2024
Total Funds
2023
Notes
Income
Investment income
36,365
36J65
40,612
Donations
17,800
17,800
Total Income
54,165
54,165
40,612
Expenditure
Cost of Raising funds
Expenditure on Charitable activities
7,695
7,695
10,048
36,042
36,042
54,034
Total Expenditure
43,737
43,737
64,082
Net expenditure
10,428
10,428
(23,470)
Gainsl(Los5es) on investment assets
Realised
(13)
(13)
(13)
(46,431)
Unreali5ed
46,447
46,447
Net movement in funds
56,862
56,862
(69,914)
Reconciliation of Funds:
Balances carried forward 6 April
Balances brought forward 5 April
1.064,246
1,064,246
1,077,298
1,007,384
1.007,384
1.007.384
Page 7

NORTHERN PHARMACIES LIMITED TRUST FUND (CCNI NUMBER: 101560)
BALANCE SHEET
5 APRIL 2024
2024
2023
Notes
FIXED ASSETS
Investments
Investment Property
970,797
145 074
1,115,871
921,213
145 074
1,066,287
CURRENT ASSETS
Cash at bank
53,343
65,482
53,343
65.482
CREDITORS
Amounts falling due within one year
Deferred Consideration
{4,560)
14,668)
(4,200)
19,888)
NET CURRENT ASSETS
34,115
41,394
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,149,986
1,107,681
CREDITORS
Amounts falling due after more than
one year
(85,740)
(100,297)
TOTAL ASSETS LESS LIABILITIES
1,064,246
1,007.384
FUNDS
Unrestricted Funds
Restricted Funds
1,064,246
1,007,384
TOTAL FUNDS
1064 246
1007 384
The financial ststements were authorised for issue by the trustees on!).-
Iland signed on their behalf by:
Sarah Mawhinney
Dr Sheelagh Hilla
Page 8

NORTHERN PHARMACIES LIMITED TRUST FUND
STATEMENT OF CASH FLOWS
5 APRIL 2024
Total Funds
2024
Total Funds
2023
Reeoneiliation of net movement in funds to Det Cash flow from operating activities
Net movement in funds
56,862
(36,365)
(46,447)
360
(69,914)
(40,612)
46,431
2.400
Deduct interest income shown in investing activities
Add back losses / deduct (gains) on investments
Increase / (Decrease) in creditors
Net cash used in operating activities
(25,590)
(61,695)
Cashflowsfrom invesling aclivities
Interest & dividends
36,175
83,906
(86,852)
40,612
186,164
(109.376)
Proceeds from sale of investments
Cost of new investments
Cost of investment propety
Decrease in other creditors
(19,778)
13,451
(9,889)
Net cash provided by investing activities
107,511
Change in cash and cash equivalents
(12,139)
45,816
Cash and cash equivalent brought forward
65,482
19,666
Cash and cash equivalent carried forward
53,343
65,482
Page 9

NORTHERN PHARMACIES LIMITED TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
ACCOUNTING POLICIES
Basis of preparing the flnancial statements
The financial statements have been prepared under the historical cost convention and in accordance with 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 the Republic of Ireland (FRS 102) (effective l January
2019) - (Charities SORP (FRS102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102).
Income recognition
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and
the amount of income receivable can be measured reliably. Donations and bequests are included in full in the Statement of
Financial Activities on initial receipt by the charity. Investment income is included when receivable.
Expenditure recognition
Liabilitie5 are recognised as resources expended as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is more likely than not that a transfer of economic benefits will be required and the amount
can be measured or estimated reliably. All expenditure is accounted for on an accruals basis.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments ale initially recognised at transaction value and subsequently measured at their settlement value.
Taxation
There is no liability to taxation due to the trust's charitable status.
Costs of raising funds
The cost of raising funds consists of investment management fees.
Charitable activities
Costs of charitable activities comprise costs associated with the education of students and members of the Pharniaceuti¢al
Profession and costs of research in pharn)aceutical matters.
Investment Property
Investment property is shown at most recent valuation. Any aggregate surplus or defjcit arising from changes in fair value
is recognised in profit or loss.
Fixed asset investments
Investments are initially recognised at transaction price. Subsequently they are measured at fair value using the closing
quoted rnarket price as at the balance sheet date. The statement of financial activities includes the net gain5 and 105ses
arising on revaluation and disposals throughout the year.
Realised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on
investments are calculated as the difference between sales proceeds and opening market value (or purchase date if later).
Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market
value (or purchase date if later).
Fund Accounting
The cornpany has various types of funds for which it is responsible and which require separdte disclosure. These are as
follow5..
(i) Restricted Funds
Funds received which are designated by the donor for specific purposes. Such purposes are within the overall aims of
the organisation.
(li) Unrestricted Fund5
Funds which are expendable at the discretion of the charity in furtherance of the objects of the charity.
Page 10

NORTHERN PHARMACIES LIMITED TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
INVESTMENT INCOME
Unrestricted
Funds
Restricted
Funds
Total Funds Total Funds
2024
2023
Dividends
Bank interest
Accumulation share5 rec'd
Rental Income
28Jll
854
28,311
854
30,873
134
2,405
7,200
7200
36,365
7,200
36,365
EXPENDITURE
Unrestricted
Funds
Restricted
Funds
Total Funds Total Funds
2024
2023
Costs of raising funds
Investment Property Insurance
Investment Management fees
1,145
6,550
7,695
1,145
6,550
7,695
1,121
8,927
10,048
Unr¢strieted
Funds
Restricted
Funds
Total Fund5 Total Funds
2024
2023
Charitable expenditure
Marie Curie Hospice
UCA pre reg course
Ulster University Prize Sponsorship
Service Development Phamiacist costs
Air Ambulance
20,815
18,000
2,000
5,203
2,000
48,018
16,350
16,350
11,119
11,119
27,469
27,469
Governance cosls
Audit fees
Bank charges
nterest on deferred consideration
Indemnity insurance
Solicitors Fees
Financial Services Fees
2,520
152
222
1,431
2,520
152
222
1,431
2,400
loo
112
1,400
2,004
4.248
8.573
4,248
8,573
6,016
43,737
43,737
64,082
Pagell

NORTHERN PHARMACIES LIMITED TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
NET INCOMING RESOURCES
Net resources expended is stated after charging..
05.04.24
05.04.23
Audit fees
2,400
TAXATION
No provision is required for taxation due to the trust's charitable status.
FIXED ASSET INVESTMENTS
05.04.24
05.04.23
Market Value at 6 April
921,213
1,044,452
Acquisitions at cost
Disposals at carying value
Net (Loss) / Gain on revaluation
86,852
(83,906)
46,638
109,356
(186,151)
46,444
Market value at 5 April
970,797
921213
Historical Cost at 5 April
659,931
635,340
INVESTMENT PROPERTY
Total
FAIR VALUE
At 6 April 2023
Revaluations
145,074
At 5 April 2024
145,074
NET BOOK VALUE
At 5 April 2024
145,074
At 5 April 2023
145.074
Page 12

NORTHERN PHARMACIES LIMITED TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
05.04.24
05.04.23
Accruals
DefetTed Consideration
4,560
14,668
4,200
19,888
19,228
24.088
AMOUNTS FALLING DUE AFTER ONE YEAR
05.04.24
05.04.23
Defe￿ed Consideration
100 297
100,408
120.185
ANALYSIS OF FUNDS
Unrestricted
Funds
Restricted
Funds
Total Funds
At 6 April 2023
Net movement for the year
1,007,384
56,862
1,007,384
56,862
At 5 April 2024
1,064,246
1,064,246
io.
RELATED PARTY TRANSACTIONS
The trustees of Northem Phannacies Limited Trust Fund with the exception of Gerard Greene, Sarah Bu￿OW5 and
Sheelagh Hillan are also directors of Northern Pharniacies Limited. The trustees received no remuneration for their
services. Related paty transactions during the year relating to Northern Pharn]acies Ltd totalled £11,119 (2023.. £5,203)
for payment relating to pharmacist costs for service development projects.
During the year Northem Pharn]acies Trust Ltd paid off part of a creditor balance owed to Northern Phamiacies Ltd in
relation to the purchase of a property. This creditor is to be paid off over 10 years from the date of purchase of the
investment property.
Northern Phamiacies T￿st Ltd a150 charged rent to Northern Phannacies Ltd for the use of an investment property. The
rent for the year was £7.200.
EMPLOYEE COSTS
There were no employees during the year and none of the Trustees (or any persons connected with them) received any
remuneration or expenses dwing the year (2023: £Nil)
Page 13

NORTHERN PHARMACIES LIMITED TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
12.
ANALYSIS OF NET ASSETS BETWEEEN FUNDS
Fixed Assets Current Assets Creditors
Total 2024
Total 2023
Unrestrieted funds:
General Fund
1,115,871
53,343
(104,968)
1,064,246
1,007,384
Restricted funds:
Total funds
1,115,871
53 J43
{104,968)
1,064,246
1,007,384
Page 14