RwJister•d number. N1037376 Charity number: NIC1018311 THE MARTIN RESIDENTIAL TRUST (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 IIOUSE BELFAST 2 6 AUG 2021 RECEPTION DES JABNZZKX JNI
109
COMPANIES HOUSE
THE MARTIN RESIDEKfiAL TRUST IA company limited by gu•v¥nteel CONTENTS Page R•f•r•ne• and adminlstratlve d•tsSls of th• charity. its Trustees and adviser5 Tntee. report Independent auditors. report on the financial statements ststem•nt of financlal acti¥itl•s 10 lance Sheet statement of cash flows 13 Notes to th• fancial statsments 14-
THE MARTIN RESIDENTIAL TRUST IA ¢ompany limited by 9uardntètl REFERENCE AND AOMINISTIIATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020 Nigel McFarland Peter Grattan Dawn Bowers Lisa M¢Farland Robert Greer TThothy Martin James Martin. Chaima) CompaDy registered number N1037376 Charity rngistrred number NIC101830 R•gisternd oifK 48 Balware Road Glengonnley BT36 5HL Chi•f •xecutive officer Nigel McFarknd Indtpondent audlto UHY Hacker Young Frtch Limited Statutory Audrtors & Chariered ACCnIS 27.29 Gordon Street Belfast BT1 2LG Banker¥ Danske Bank Limrted 39 Mallu5k Road BT36 4PP Solicitors C*nptel Stafford s11)1015 121 Stath)n Street Bdfast BT3 9DA Page 1
THE MARTIN RESIDENTIAL TRUST IA company limited by guardntetl TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Truslees presenl theÈr annual report together Ihe audrted financial statements ol ihe charty for the 1 January 2020 to 31 December 2020. The Annual report seNes the purposes of b)th a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual report and finan¢ial slatements of the charItae company compty wrth the currenl slalLrtory requirements. thè rUIrementS ofthe charrtable companys governing dcument and the pmwsJns of the Staternent of Recommerthd Pfach" ISORPI applicable to charities prepariTrJ their accounts in xcordance with the Fina1 RekMyDng Stsndard appli¢able in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 2019). Structure, govemance and managerrnnt •. Consti¢ulio The Martin Residen11 Tnjst is registered as a tharrtable o))mpany MIted by guarantee was set LP ty Memorandurn of Assouation on 151h NoNEmber 1999. The charitable cornpany is a registered charty with the Charity Commiss)n in Northem Ireland under number NIC101830 and is recognised as a charity by HMRC. number XN79517. b. Methods ofappoMthntoreleclion of Trustees As required on an ad hoc basis Ihe board members discuss the apwntrnent of polenb.al new members for ¥pF¥Jintm¢nl to the board. Suitable peOe are approached and if they are willing to serve ¢)n the board, their nomination is wt fonvard for approval by the board. There is maxwnum term ol office. c. Oryani8ational stNcture and decisionwmaking policies The board is resp)nsible for the retW of all activities and approval of f(rture strategy. Meetings of board arè held a minirnum of the tsmes per annvm. The genefal manager is resF4Jnsth for all day to day matters. d. Financial risk management The Trustees have asse55ed the rnajor risks to whKth the ¢hty is exposed, in particular those related to the operations and finances of Ihe chan"ty. and are 5ati5fied that 5y5tems and wocedures are in place to mitwJale exposure to the major r{5. Plans for fvluve periods The o)mpany intends to tryJikl a small faulity for the benefit of profoundly disabled people al some point in the fUre. and have invesle(1 ¢jeSned fvnds for purpose. M Ihe momenl there are no defini(e F4an5 OT commrtments in re lo Iwild this new un Obp¢tive• and xtiviti¢$ a. Pollcles nd obJt¢live8 T objeclwes of the 7panY continued lo be th of pro¥idiThJ lovir¥J care to people ith profound le8rnitYJ disats"lth"es, vthich is achiNed through the runnin9 of a Ca fa(iltty in Gkng¢ymbey. b. strategles lor achleving obje¢iives The Ma'n Residential Trust woyides 24 nursiNJ care and support to peop wilh Profound and in many cases multiple physical disabilrtes at our Ca fafilrty in Gn90my. We are experienced in supporting people who have conditKJns such as eylepsy. Alzheimerfs disease. aulisbc SFectrum di50rder. Down's syndrcThe, cerebral palsy, dysphasia and mLTrscJJloskelelal isorders. Pège 2
THE MARTIN RESIOENTIAL TRUST IA company limitèd by guarnntee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 21120 Objectives and activities Icontinuedl Activiti•s undertaken to achieve obiecti¥es Wrthin the Martin ResntIal Trust, a able to prode a safe. suprxjrbve and caring envwonmenl lor vulnerable peorAe. The is afvs a qualrfied nurse on duty 8nd we promde a high kvel of staffing in order Ihat ' we ¢an aF)ropriately supp¢)rt kwjle w) have complex needs. We have stJrtalAe faul1.S to assisl people who have phywcal di5abilib"es, indLxling overhead hoists and accessibbe transwrt. Vve also supporl people lo lake part in a full activity programme thal i% surted lo their indiwlual needs. ActMtEs can range from arts and Crafts, cookery. sensory activities. hrother¥pY $essK)ns and phY$therapY and Ihe persm's aclmty plan is surted t(> their assessed indivKlual need5. Our WKle lange of f1.eS and OLJr breadth of Èxper*nee mean thal we are able to be very responsive lo changes in a person's needs cw heallh. d. Public benefrt d•¢lavalion The direct publt benefit whith llows from our purpose is the provision of ac¢ommodalion and nursing care lor people liwng in Northem Irelaryj vtho have profound learnirrfJ disabilities. ¢. Main aetlvities undèrtaken to lurth•r the ch•rilYs purposès for thè public benefft The prowsion of 24 hour nuNrg ¢arÈ support to those people Irwng In NOrtM Irelarrfl throughout the year who have profund Eearning diabil"e$ is of direct benefrt to the pu1¢. These bÈnefrts can be demonstrated through, feedback frorn users and their 1¢$. rwrsThJ medThl a5se55rnent of heatth outcomes. and independent evU01]on by regulalory bodies_ In providing nursing cwe there is a risk aswated with admir¥stering prescribed medi1 Irealment$ such as medianes aimed at treabThJ heallh nd"On5. These risks are medully assessed and are oulweighed by the benefits to the sere user. Th)se admini5teriThJ or VrkIa for the organisations rnay inchdentally benefrt from our purpose if their relalive receives nursing c3re. lfi such ¢ases the relative musl fulfill the requirements of admission and will recei¥p Fxeferential treatrnent. Page 3
THE MARTIN RESIDEIITIAL TRUST (A company limited by guarnnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Strategi¢ report Achievements and perfomHn¢e a. R•view of aclivilies The results for the year are set out in the atta(*d finarla1 51alement5. The resutts and thè financial position were sIdered satisfaciory by the Twstees. Flnan¢i•l review a. Going concern At the current ts.me the UK is in the midst of ihe COVID-19 pandernic. which has introduced challenyès and restrictions on all aspe¢ts of our daly lives. The truslees have taken all precautsons nece55ary to ensure the heatth and safety of all of wr resitlents. staff and meMlS of the puts1. Given the uncertainty of when Irrent UK Gobtmmenl Cov119 containment measures wil cease. rt is likely we will ¢ontinue to experience restittions in actiwty. The Chartty has sought to milale Ihe effect of the necessary restrictions on actmty by seeking to preserve cash and making Ltse of the CoronawTUS Job Retention Scheme. . While we wntinue to (4)eraiÈ wrt"n our bank faclths, cUrrenY we do not antiapate the need to avail of further support mechanisms. coMt>19 is expeded io have a si9rNfi¢aM impact on a¢tiwti"es for the remainder of 2021. However, we are confidenl Ihat The Trustees have tsken all act$ possible to mitigate the impa¢t on the char+ty. The Trusiees have con5Klered Ihe irnpact ol COVID-19 on the Chaws finanual perfomiance and cash Ilows. The Charity antvpates rt will operate wrthin rts ffaulit and meèt rts obligatmins as they fall due. Consequently, the Truslees continue to adopt the going CoeM basis of ¢xInti3 in prepaM9 the annual finanoal ststement$. b. Reser policy It is the poly of the charty that unrestricted furbjs Vthtth have not been desiynated for specific use should be maintained at a Ve1 equivalent to beknn Ihiee arKI six month's expenditure. The directors consider that serves al ihis level wll ensure that, in the elnI ol a significant drop in funding. they will tre able to conts.nue the companls currenl aclmties Whi congderation is gibEn to ways in whth additn31 fiJnd5 may be raisèd. This level of reserves has been maintained Ihroughout the r. c. Principal risks and CertaInlIeS The Charity has re¢ognised Ihe risk$ posed by the rrent COVID-19 pandemic and has imF4emented variaus ¢ontingen¢y rnea5ure5 and mibgats.ng actions to address ihe threat. Charty has implemented a cKJordinated busness respjnse and J5 takiThJ appropriate acb.ons for the Charty b85ed on UK Govemrnenl ath'ce. The heallh and well being of the Charitls resKlents. employees and supplrs conts"nue5 to be of paramount concem and arrangemen1$ have been pul in ple lo ensure that the CharS premises remain a safe enwronrnenl for residents and staff. The Charity keeps the srtuation under daity fewew and will take al CeSSary measures lo mamtsin the viabilty of the SeceS probryded. This indudes the rjuS measure and acts'ons indicated under the Charitys as5e55ment ollhe alJ"ity of tre Charity to rx)nb"nue as a wng cnceM. d. Prin¢rp¥l tundiry The companls primary source of funding contiNed lo be from local Heafth Tnjsts. lemb•rs' liabllty The Members of the charity guarant lo c(trI)ute an amount Trjl exceediThJ £1 to Ihe as5els of the tharity in the event of winding up. Page 4
THE MARTIN RESIDEIMAL TRUST IA Company lirnited by grntee> TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 ststement of Trnstees. por•bIlItieS The Trustèe5 (who are also the directors of the charity for the wrpjses of company lawl are responsible for preparing the Trustees, re1 induding the Straiegic rèport and the finaal stalements in accnrdance with appliCate law and Unrted ng¢>M AccaxJnty"ng Stsndards (Urmled Generalty Aeeepled Accounting Practice). Company law reiS the Trustees to Prepare fmancial statements for each financial . Under company law, the Truslees musi not approve the finanaal statements unless they are satisfied that tY give a true and fair view of the state of affairs of thè charity and of its incomirg fesourcks and applKation of resources, induding its inrne and expenditure, lor that period. In preparitvJ these finanoal statemenls. the Trustees are required to.. select suitable xcounting and then appty ihem consistenttr, observe the methods and princieS of the Charities SORP {FRS 102)." make judgments and accoLJnting esb"mate5 Ihat are reasonable and prudent", stale whether appli¢able UK A¢¢wnting Standards {FRS 102) have been folbwed. subject to any matsrial departures disdosed and eXained in Ihe finanual statements., epare the financtal stalement5 on the gng concem basis unless it is inappro)riate to presume that the ¢hanty will cty)ts"nue in business. The Truslee$ e SponSibl for keepiny adequate O¢Q)Lmlin9 records thal are suffiaent to show and expin the chartys trans&titins and disdose rylh rèasMab aeeuracy at any time the finanoal posilion of the charity nd enabk Ihem io ensure that the financwl Slatements CoMY ¥th Ihe Companies Act 2¢J)6. They are atso responsi1e for Safeguarding the assets of Ihe charity and hen ft>r taknng reasonable sleps for preveniion nd detection of Iravd and other Trrregulanb"es. Db¢lostsre of InfornMtlon to audito Each ollhe persons who are Trustees at Ihe Imne when Ihis Trues' report is approved has confirmed thal.. so far as that TNstee is •are, theie revant aLMIrt inlLYmalion ol whh the charitys audilofs are unaware, and that Trustee has taken all the steps that ought to have been taken as a Truslee in order to be aware of any relevarf audrt informatsjn aTrJ to e5tsbh5h that the chartys audrtors are aware of that infomation. Audito The auditors, UHY Hacker Your¥J Fitch Limiied, have induted their willingnes5 to continue in office. The designated Trustees 11 propose a mobon reappointiThJ tr auditofs at a meetin9 of the Trustees. Approved try tyder Of members of the board of Tlustees on 20 August 2021 and signed on their behalf by.. Nigel McFarland ITw$tsel Lisa McFarfand ntee> Page 5
Hacker Young Fitch Chartered Accountsnts BELFAST Gw(bn Stieet 27-29 Gordon Street Belfast BTI 2LG THE IAARTIN RESIDENTIAL TRUST PIK>ne +44 28 9032 2047 Emal bplfastQuhy-uk.com Web wMw.uhy-uk corTWodfa5t IA company limit•d by guarnnte•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST LONDOPI 222 The QuadrarvJle Cambridge Squ L0Th W2 2PJ Fbone +44 20 7305 7489 Web W.uhUk.(OrVWé$tff5Ier Opinlon We have aud¢ted the finanaal stslements of The Marb"n Residential Trust Ithe '¢harity'} for the year en¥Jed 31 December 2020 which comprise the Statement of financial a¢b.V"e$, the Balance sheei. the Statement of cash flows and the related notes, inGludin9 0 summary of si9nificant ac¢ountin9 poli¢ies The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Rewb"ng Standard 102 The Financial Repo"A9 Standard applicable in the UK and Republic of Irdand. (United Kingdom Generalty Accepted Accounting PraCte). In ¢JJr opinion the finanual slatements.. give a tnJe and fwr view of the state of the ¢harrtable company's affairs as * 31 December 2020 and of ts incoming resources and apiCatiOn of resour5. including its income and expenditure for the year then ended., have been woperly Prepared in accordance with United Kingdom Generally Apted Accounting Pracb"¢e". ar have been prepared w) accordance wth the requwements ofthe Companies A¢t 20C6. Basi5 for oplnlon We conducted our in accordance wrth lntemab.onal Stsndards on Audrting (UK) IISAS {UK)l and applicable law. Our responsibilities under those standards are fvrther described in the Audrt0rV responsibilities loi the audit of the finan¢ial statements seGb"on of our reporL We are independent of Ihe charitable company in accordance wilh the ethal requirements that are revant to our audrt of the financial slatemenls in the United ngdom, including the Financial Reporh"n9 Council's Ethical Stsnddrd. and we have fvifilled our other ethical responsibilrties in accordance wilh these qUIreMents. We believe that the audrt evidence we have obtsined is sufficient and aFpropriate to wowde a basis for our opinion. Conclusions rnlatlng to golng nCern In audibng the ftnancial sLitements. we have conduded that the Twstees, use of the going concem basis of accounting in Ihe preparation of fTh¢14 ststements is appropn"ale. Based on the work w2 have Fwfomied. we have not identffied any material uncertainties relating lo events or" con¢Jitions that. individualty or colleclivety. may cast significant doubt on the charrtable company'5 ability lo continue as a gn9 concern for a period of at leasl twelve months from when the financial slalemenls are aLrthorised for issue. Our responsibilibes antj the responsilibe$ of the Trustees respect to goiNJ concern ale Jeribed in the relevant sectn5 of this reporL iNYHetYQm9 A¢th .P¥ YOU Amtrnterofthe CWARTEAED IN PEOPLE
THE MARTIN RESIOENTIAL TRUST (A ¢¢mpany limit8d by guarnnt•) INDEPEP4DENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST ICONTINUEDI Oth•r iTrforniation The TnJstees are responsible for the other infom)alion. The other infomation comprises the information cluded in the Annual report. other than the financral statements and our Auditors. report thereon. Our opinion on the financial statements does not cover the other information and, ex¢epl to the extent otherwise explicitly stated in our report, we tjo rt express any fom of assurance condusion theretsn. In connection wth our audit of the financial stemenls. ¢)ur responsibilty is to read the other fom)alion and, in doing so. consder whether the other informats.on is rnaterially inconsislenl wth the financial statements or our knovledge obtsined in the audit or otherwse appear$ to be materially misstated. 11 we identify such material inconsistencies or apparent material misstatements, we are required to determine Vdhether the is a material misstatement in the financBI statements or a material misstatement of the other information. If. based on the we have performed, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing lo report in this reg¥d. Opinion on other mattern prescribed by Companle$ A¢t 2006 In cyjr ownion. based on the work undertaken in the Course of the aLAJ inftymation given in the Trustees. report induding the Strategic port for the financial year for which the financial statements are prepa is consislerrt h Ihe financ1 statements. the Tru5tees' refvirt and the Strategi¢ report have been prepared in accordance with aP¢801e legal requ1Ments. Matt•r& on which TW• are required to rèport by •xc•plion In the light of our knowledge and understanding of the charrtable company and rts environment obtained in the course.of the audrt, we have not idenlrfie(I material misstalements in the Trustees, report including the Strateg report. We have nothing lo report in respect of Ihe fojbwng matters in relation to Companies Act 2006 requires us to report to you rf, in oUr.¢Jpinn-. adequate accounting rerS have not t)een kept, or retums adequate for our audit have not been received from branches not visted by us.. or the financial statements are nol in agreement wilh tr* accountir8 recNds and retums.. or certain disclosures of Trustees. remuneratv)n specified by law ate not made," or we have not received all the infomalion and explanations vo qUIre for cwr audf(,' or the Trustees tre not entstled lo ppare the financial slatemenls in accordance wth the sm811 companies lme and lake advanlage of the small companies. exeMplnS in preparing the Trustees, reporL P•Je 7
THE MARTIN RESIDENTIAL TRUST IA company Ilmit by guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST ICONTINUEDI Auditors. responsibilities for the audit of thè financi•l statements Our objective$ are to obtain reasonable assurance about whether the financial 5talernents as a whcle are free from material misslatemenl. vthethef due lo fraud or errty. and to issue an Auditors, report Ihat includes our opinion. Reasonable assurance i8 a high level of assurance. but Is not a guarantee that an audit conducted in accordance wlh ISA5 IUKI V•ill ahvays delect a material mL8slatement when rt exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of user5 taken on the basi5 of these fin¢131 5talemenl$. Irregularities. induding traud, are insts1$ of non-compliance vAth 1•4VS and regulab"ons. We design proce¢Jures in line %wth Lwr responsibilrties. QLrtlined above. to detect material misstatements in resped of ITregularities. including fraud. The extent to lch our procedures are capable of detecting iffegulari(ie$, including fraud is detailed be>_ Our approach to identfying and assessing the risks of mèterial mlssts1emt in respect of irregularrties. indu¢Ying fraud and norKompliance vAth laws and regulaIK$. w4$ as folkA¥s. The engagement partner ensured that the engagement team ¢Olle¢tiVe had the appropriate competence, capabilities and skills to Klentfy or recognise non•compliance wth applicab law5 and regulations. As part of the audit in accordance wth ISAS IUKI we exercised profe55ionèl judgement and maintained professional $cepticism throughout the audit. We Klentified the laws and regulations applicable to the company through discussions with directors and other management. and from our commercial knowledge and experience of the se¢lor and we f¢xused on specffic laws and gUlatiOnS ¢onsKlered may have a direct material effect on Ihe financial statements or the operations of the company. including the Companies Act 2006, tsxion legisLition and data proteth"on, antrbribery. empbymenl. environmertsl and health and salety legislation. We assessed the su5ceplitNlity of the company's financial Statements lo material misslatemenl, including obtaining an understanding of how frau¢J might 0¢r. by making enquirie$ of manageffent as to where they considered there Wds susceptibility to fraud. their knoedge of actual, suspected and alleged fraud and ¢onsidenng the inlemal controls in place to mrtvJate risks of frauJ and non-¢ompliance laws and regulations. We obtained an understandirvj of internal controls relevarrt to the audrt in order to design audrt procedures that were appropriate in the circumstarS txrt not for the purpose of expressing an opinion of the effectr"veness of the Company's intemal controls. To addre55 the risk of fraud through management bias and override of controls, we performed analytical procedures lo idenlfy any unusual or unexpected relalionship$', tested joumal entries to identify unusual transa¢tion$,' evaluated the appropriateness of aUntIng poli¢ie$ used. including managements. use of the going con¢em basis of acctyjnting, and the asOnablenesS of accounts.ng eslimales 8nd related disclosures made by management.. and in¥esb"gated the rationale behind significant or unusual transactn$. In response to the risk of wregulanties and non<ompliance 1h laws and regulations. we designed procedu$ which included but were not limrted lo agreeing financial statement disdosures to underlying supporting documentation." reading the minutes of meetings ol those charged wth goveman¢e'. and enquirin9 of management as lo actual and potential Iltrgan and daims. 8ecause of the inherent limrtations of an audit, Ihere 15 a risk that we not detect all irregularib'es, including thc&se leading to a material misststemenl in the financial statements or non-compliance 7Mlh regulab'on. This risk increases the more that Compliance with a law or regulatK*n is removed from the events and transactions reflected in the financial ststements, as V•E wll be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurrirrfJ due to fraud rather than error. as fraud involves intentional concealment. forgery, collusion. omission or mi5represenktion. A further description of our responsibilit$ for the audit of the financial ststemenls is located on the Financial Reporting Counol's Wble aL wmw.frc.org.oud1I0TSre$psth.llbe$. Thi$ des¢ripM)n fonns part of our Auditors, report. Page 8
THE MARTIN RESIDENTIAL TRUST IA company limited by guarant••l INDEPENDENT AUDITORS, REPORT TO THE MEM8ERS OF THE MARTIN RESIDENTIAL TRUST ICONTINUEOI Us• of our r•port This report is made solety to the charitsble company's members. as a body, in aGrdance with Chapter 3 of Part 16 of the Companies A¢t 20C6. Our audit work has been undertaken 50 that we might state to the charitable company's members those matters are required to stsle to them in an AuditOTS' report and for no other purpose. To the fvllest extent pemitted by l*¥. we do not accept or assume SponsIbl11ty lo anyone other than the tharitable company and ts members. as a body. for our audrt work, for this report, or for the opinions we have fomied. i¢hael Fitch {S•nior statthry auditor) for and on behalf of UHY Hacker Young Fitch Limit•d Statutory Audrtofs & Chartefed Accountants 27-29 Gordon Street Belfast Anlrim BT12LG 20 August 2021 UHY Hacker Your¥J Fitch Limrted are eligible to act as auditors in temis of seCtn 1212 of the Companies Act Page 9
THE MARTIN RESIDENTIAL TRUST (A company limited by guarantee) STATEhlENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENOED 31 DECEMBER 2020 Unvestricted funds 202(1 Total funds 20211 Total funds 2019 Income Irom: Datr"On$ and legaS Charitsble ac*"vibes Inveslments 95.237 1.2SO,435 24.159 95.237 1.250,43S 24.159 15,022 1.364,335 22,823 Total in¢oThe Expenditurn on: Charitae acliwtses 1,369,831 1.369,831 1.402, 180 1,359.644 1.359.644 1,427,605 Total èwditu 1.359,644 1.359,644 1.427,605 Net Incom¢llexpendlturnl l)eforn net gains on In¥ÈstmÈnts 10.187 10,187 (25.425) 4.347 Net gains on investmts 5.911 &911 Net movement in fund5 beft•re other rKognised gains Other recognised g•in$: Gains on revUatIon ol fixed assets 16.098 11,098 (21.Q78) 4.029 4.029 32,484 Net movement in funds Re¢onciliation of funds: Total funds brought f¢)Thfdrd Net movement in funds 20.127 211,127 11.406 2.S28.254 20.127 2.528,254 20,127 2.516,848 11,406 Totsl funds carried foThAnl 2,$48.381 2.548,381 2,528.254 The Stslement olfiwcial acbbilE5 indLths all gan5 and kjsses re¢c9nised in year. The note5 on pages 14 10 30 fcffm part of these finamal statements. Page 10
THE MARTIN RESIDENTIAL TRUST IA cornpany limited by 9ntÉ*I REGISTERED NUMBER: N1037376 BALANCE SHE AS AT 31 DECEMBER 21120 21120 2019 Note Fixed assets Tangible assets Investments In¥Mstment pfoperty 1,230,245 S94,338 265.000 1.268,241 577,976 265.000 13 12 2,089.583 2,111,217 Cuffent assets Debtrjrs Cash at bank an¢J in hand 14 20,945 480.YJ2 18,369 445. 783 501.337 464, 152 Creditor5.' amounts tslling thje thin one year 15 142.539) (47. 115) Net curvent assets 458.79B 417.037 T¢)tsl •$stts lèss eurr•nt liabilities 2.S48.381 2,528.254 Ngt 05s•ts •xcluding pension asset 2,$48.381 2,528,254 Tolal net assets 2,548,381 2,528,254 Charty funds Restricted fldS 17 Unrestrirted IS Ge131 Revaluation reseTr 17 2.527.381 ,000 2.507.254 21.000 Totsl unrestrthd funds 17 1548,381 2.528.254 Totsl fund$ 2.$48J81 2,5Z8,254 Page11
THE MARTIN RESIDENTIAL TRUST IA company limited by guarnntse) BALANCE SHEET {CONTINUEDI AS AT 31 DECEMBER 2020 The Trvslees acknOedge thw'r responsibilities for comth'ng wilh the requiTements of the Act wth respect to a¢n11n0 re¢ords and preparat of finanual statemenls. The financial stalernent5 havè been Fwared in accordance ¥Ath the prows*yts aPrab to enlilÈs subject to the small companies regime. The financial 5tatemenls were approbE(l and authon.sed for issue by the Trustees on 20 Augusl 2021 and Signed on their behalf by.. Nigel McF4rf•nd ITnJsieel Lisa PAeFarfand (Fruslee} The notes on pages 14 10 30 fomi part of these financial slatements. Page 12
THE MARTIN RESIDENTIAL TRUST IA company limitrd by guaTrnteel STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO 31 DECEMBER 2020 2020 2019 C•sh flows from opernting a¢llvltles Net cash used in operating 20,735 (1. 788) Ch flo from inwsting activities Dividends, interests and rents from in4estrnen15 Prcteeds from the sale of tangible e assets Purchase of tangible fue(l assets Proceeds from sale of ¥sIMnts Purchase of investments 24,159 22.623 4,295 (146,687) 41,626 (54.249) 13.862) 147.051 {153.4811 Net eash prnvided bYlle inl investing athlties 13,874 {132.1921 C•6h flows from financlng aclvilKs NÈt eash prnvided by financing activilies Chang• In cash and cash equivalents in thè ymr Cash and Gash equivalents al the tgiMing of the ar 34.609 1133,9801 579,763 445.783 Cash and cash equivalents at the end of the year 480,392 445, 783 not•s on pages 14 to 30 form part ofthw finanoal siatements Pagè 13
THE PAARTIN RESIDENTIAL TRUST IA company limited by guaAntÈÈl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Genefal inform•lio The Marb'n ResKlenkn"al Tlust is a thantable company limited by guarantee and is irrpOrated and registered in Northefn Ireland under ojmpany wistration number N1037376. The charitable CoMpanS registered offe ts Sittted at 48 Baltyrbre Road. GleNJormky, Co. Antrim BT&S 5HL. The princ¥AI xtivity of the company is woyrtjing lo¥ing (are to peorAe with profound le8ming disabilities. Accounting policies 2.1 Basis of preparnlion of financial statements The final statements have teen prepar•J in ac£ordance Ibith the Charities SORP {FRS 1021- Account1j and Rep)rting by Charities.. Siaiement of Recommended Practice apFd1Cab to charities preparing their accounts in acccdance wth the Financial Reporting Standard applicable in the UK and Rèpublt of Ireland IFRS 1021 (effective 1 January 20151, the Financial Reporting Standard appltsue in the UK and Republi¢ of Ireland (FRS 1021 aTrJ the Companies Act 20(h8. The Marty"n Residential Trust meets ihe definition of a public nefft entity under FRS 102. Assets and liabilfls are inrtialty recognised at hislorical cx)st or transaGtiOn Value unless otherwise stated in the relevant accounting policy. 2.2 Going concern At the cuThent time the UK is in the mhtsl of the COWD-19 pandemic, which has Introduced challengès and restricbons on all aspects of our daily lives. The trustees have taken all precavtion5 necessary to ènsure the health and safety of all of our resents, staff and members of the public. Gwen uncertainty ol vthen cajrrent UK GorrMneni COVIL¥19 c¥)ntsinmenl MyreS wll cease. it is likely we wdl continue to eyperience reslrictions in aclmty. The Charty has soughl to mrtlgate the effect of necessary restricb'ons on actNity by seekiTrJ to preserve cash and making use of the Coronawrus Job Relent Scheme. White we continue to operate ¥wlhin our bank facilities. rntlY we do not antiupale the need lo avail ol further Supkwi mechanisms. COVID-19 is expected to have a significani impact on acb"wb"es for the remainder of 2021. However. we are confident thaf The Truslees have laken all acty.ons possib to mrtigale the impact on the charity. The Trustees have conswjered the impact of Cov119 or¢ the Charitys financol Ferformance and cash fhm. The Charity antiupates rt VAII operate vhthin its facilities and meet ils obligal#Jns a5 they fall due. Con5equentty, the Truslees cryrtinue to adopt the going concem basis of aCCn"rj in prepaM9 annual finanrial stalemeftts Page 14
THE MARTIN RESIDENTIAL TRUST IA company limlted by guarantee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting poll¢les l¢ontln¥¢d) 13 IoM• All in(x)me regnIsed ortt the charity has enbdement to the ince. rt IS Probable that the income will be receNed arKI the am(nI of incLvne receiwable can te measured reliabty. Grants are included in the Statement of financial ¥tiMtS on a receivable basis. The balan¢e of income received for specffic purwsÈs bLrt not expeThJed during the period is shown in thÈ relevant ftjnds on the Balance sheet. Where irthme is led in adonCe of entiuement of receipt, its recognit 15 deferred and induded in tredrtofs as deferred income. Where enknUerDent occurs before income is received, the incryne is ac£sued. Gifts in kind donated for disln"buiion we cded gt valualion atwj re¢ognised as IncMe when they are dislribLrted lo the projects. Grfts donate(I for res art intluded as irthme when Ihey are sold. Incorne tax recoverabk in relation to dOnatS receiNJ under Grft Aid or deeds of covenanl is rc(YJnised at the time of the don. IA Exportdi1• Expenditure is re¢tsJnised once there a legal or constructive otAlgatn to transfer economic benefit to a third party. it is probablè Ihat a transfer of econom benefits wil be required in setuement and the amounl of the obligabon can be measured reliabty. Expenditure is classified by actimty. The costs of each activity are made vp of Ihe total of dire¢1 ¢osts and shared (stS, indvding support costs invdved in undertaking each acti¥ity- Diiect o)sts allroutable to a single acliwty are allocated directly to that acbwty. Shared costs whith contribule to more than one actwity and support costs which are not attributable lo a sirrfJle actimty are apporty.oned betsn those acbvilies on a basis consistent with the use of resources. Central staff costs are dbcatgj on the basis of tThe spent. and depCiatIon ch¥ig¢s alk)¢ated on the porti ol Ihe asset's use. Expenditu on tarrtable ltIeS is incurred on directPy LsTrJertaking the aCtIlieS vhich further the tharity's objectNes. as wdl a5 any as$0¢iated supp)rt costs. AN expendrture is indus of irreCoable VAT. 2.S Government yrants Go¥efflment grants relalin9 to tsrtgle fixed assets a treated as deferred income released lo the Statemenl of fina4a1 acb"vibe5 over the expected useftjl INes of the assets concerned. Other grants are credrted to Statement crf finanaal actiwtEs as the retated expenditsj 1$ inoJTred. 2.6 Interest receivable Interest on funds held on deposil is induded when receivable and amount can be measured liably by the Charity., this is normalty u[ nolj"fatrJn of the Interest Pa or payable by the institution wrth whom the fvnds a ¢Jeposited. Page 15
THE MARTIN RESIDENTIAL TRUST IA company limit¢d by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting polici• {continued) 17 Tanglble fixed assets and d•prKi•lion Tan9ible fixed assets are irmiialty reajgnised at C05t. Aftw rWnrtn, under ihe cosl model, tangible fixed assèts are measured al cost less acctjmulated depreryatson and any accumulated impairment losses. All costs incurred lo bring a tarvJible fixed asset into rts intended working condib'on should be included in the measurement of c05L Al ea¢h reportin9 date the charty assesses whelher there is arry indicats.on of irnpaimient. If such dicatson exists, the recoverable amount of the 85sel i% detemiird to be the higher of ts faiT value tess costs to setl and rts value in use. An impairment kjss is re¢ogntse(1 wfwe the rrYing amounl &x¢eed$ r¢¢owrable amtMXrt. DepreuatKJn is char9ed so as lo thate the cost of tarvJfde fLxed asset$ less their residual valLte over Iheir esb"mated usefvl INe$. Depretyation is proNryded on the basis." Freehold propety Molor vehide5 FixiuTes ffttings 4% reduung balance 20% redwng balance 2 strapjht line 18 Investments Fixed asset vestmentS are a form ol finanual instrument and are IndIY recognised at their transaction cosl and SubSeqnuY measured at fair valL at the Balance sheet date, unles5 the value cannot be measured rdbty in vthith case it 15 measure(l ai (xJ$t less impaimient. Investmenl gains and losses, vthether realised or unrealised. are ¢omts"ned and presented as 'GainsllLosse5} on inve$lment$' in th¢ SMement of financial actiwties. 19 Debtorn Trade and other debtors are re¢ognised at the settfemenl amount after any trade dI$unt offered. Prepanents are valued al the amourtrt prepai¢J net of any trade discounts due. 110 Cash at bank and In hand Cash al bank and in hand indudes cash and shjrt-lerm highty liwid investments wlh a short malunty of three nM)nths or $8 from the date of acquisitson or opening of the deposit or 5irnilar accounl.. 111 Liabililies and pvovisioThs Liabil¢5 are recognised there is an oblujation al the BalarKe Sheet dal• as a result of a past event. il is WObab that a transler of economic befit 11 required in selyement. and Ihe amount of the settlement can be esb"male(I reliatty. Liabilit are recognised at the amounl that the charty antt¢ipates it AII pay to Sett the debt or the nouni rt has rttei¢J a$ adwanced payThents for the goods or seThKes it musl provide. Provisions we measured at the best estimate of tr* am¢)unts required lo Settle Ihe obligation. Where the effect of the time value of money is material. the proM$n is based on the Fyesent value of those ounts. dis¢ounied * the Fye-tax discount rate that reflect5 the risks Specif to the liability. The irmling of tt di5Unt is recogniseil in the Statement of financial aciiwties a5 a finance cost. Page 16
THE MARTIN RESIDENnAL TRUST (A company limitèd by guarantètl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies Icontinuedl 2.12 Financial instruments The charity orly has fin8rKa a55ets and firwcol liatIrt of a kind that qualfy 8$ basic finan¢BI instruments. BasK finanaal instrurnents are inth.afty recconised at transaction valve and subsequently measured al their settlernent value with the exceptw of bank ban5 which are subsequently measured at amcrftised cost usiThJ the effecti interest meth&J. 113 Pensions The charty operates a defined contritrxrt)n penSTr scheme and the pension charge represents the amounts payable by Ihe chity lo the fvnd in resFeCt of the year. 114 Fund accountin9 General funds arè unreslnded funds ¥e available for use at the dis¢fdion of Ihè Trustees in fvrtherare ol the general obFctr¥es of the tharity aTrJ ¥thith have not been (WJnaled for other wrposès. Desiwaled funds compnse unreslrKle(I fund5 that have been set asKle by the Twstees for partiaT purposes. The aim and use of each desnated fund is set out in the note5 to the financial statements. In%&tstment income. gains losses are alated to the 4wropriate fund. Page 17
THE PAARTIN RESIDENTIAL TRUST IA company limit¢d by guar4nteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2020 In¢ome hom donations and legacies Unrestricted fvnds 2020 Total funds 2020 Dcatn5 Grants 7,770 10.000 77,467 7,770 10.000 77.467 Government grants Oiher income Total 2020 95.237 95.237 UnTrstrict8d fvnd$ 2019 Tol funds 2019 Oonations 14.522 14.522 Other in¢ome Totsl 2019 15,022 75.022 Income Irom charitblt 8¢tivities Unrestrfcted funds 2020 Total funds 2020 Income from Healih Trusts- Promding Ca for Fwple with profouThJ learning disabilitEs 1,250,435 1.250.435 UnTrstnGt&d funds 2019 Total funds 2019 Iwime from Healih Trusts- Prov19 care for pe( with profouNI learning disabili1$ 1.364,335 1,364,335 Page 18
THE MARTIN RESIDENTIAL TRUST {A company limited by gu•rantr¢l NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDEO 31 OECEM8ER 2020 InvestmÈnt ineom• Unrestrlcted funds 202Q Total funds 2020 IrNe$tment irume- local investment propertE5 Irorne from listed in%R5tments Investmènt income- intèrest 13.3x1 13.3511 9.65B 1.151 1.151 Totsl 2020 24.159 24.155 Unrestricted funds 2019 Total funds 2019 Investment incorne- local investment woperties Income from listed investrnenls Investmtnl i1Me- intèrest 8,850 12,667 1,306 8,850 12,667 1,306 Total 2019 22,823 22,823 Anatysi5 of expendituro on ch•vitsble a¢tlvlties Summary by fund type UnYvatrfctÈd funds 2020 Total funds 2020 PTowdirKJ care for peo wth wolo leaming disatxlities 1,359,644 1,359.644 UnrestnGted funds 2019 Total funds 2019 Promding ¢are for peop wilh profound arrrj i*sabilrties 7.427,605 1,427,605 Page 19
THE MARTIN RESIDEPMAL TRUST IA company limited by guarantèè} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Analys•s of •xp•nd•ture by activities Activilies undertaken directly 2020 Support costs 2020 Totsl funds 2020 ProvN1ing care for pe wrth profound disablths 1.289.916 69.728 1.3S9,644 AclAvities undertaken Sup& 1CY costs 2019 2019 Total funds 2019 ProvKling care lor people profound leaming isabditie5 1,349.720 77.885 1,427,605 Analysi5 of dlr•ct costs Pa9e 20
THE MARTIN RESIDENTIAL TRUST IA company limited by guaTrnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Analysis of expenditurn by •¢tl¥ilis {¢(ntlnuedl Anal15 of direct costs {continuedl Total funds 2020 Total funds 2019 Staff costs Water rates ght & heal Cleanin9 LaU1ry Repairs & rnainlenance Food purchases Insuran Motor expesnes Medical expenses Toiletries Directors expenses Staff expenses Entertining Recruitrnent èxpens Day centre expenses Residents expenses Staff cDurses {ProfitllLoss on sate of fixed assels 1.IOS.198 S,S59 26,817 12,226 4,403 13,891 29,599 8,718 9,122 36,086 1. 124,539 5,861 29,851 12,535 4.537 28, 125 40, 754 10,622 12,691 36,021 150 12.044 244 572 1,896 24,003 6.794 (1,9831 6.621 15S 22.272 5.407 Total 2020 1.289.916 1.349. 720 Analysis of support costs Page 21
THE MARTIN RESIDENTIAL TRUST IA company limlted by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2Q211 Analysis of expendilurt by a1¥11]*$ {¢ontinuedl Analysis of support costs l¢ontinuedl Totsl fund5 2020 Total lunds 2019 Depreciat Prinling. postage & Statery Telephone Comwler c05ts Professional fees Bank charges Sundry expenses Registralion fees Inveslment costs Governance costs 41.858 492 4.584 5.691 7.265 104 44. 775 1,662 4, 766 7.174 9,111 150 230 874 4. 175 4,968 914 5.172 Total 2020 69.728 T7,885 Auditors. remuneration 2020 2019 Fees paae to the Charitys audttor for the audTi of the charty$ annual ounts 2.650 2,560 Fees payable to the chartys audrtor in respect of: I non-audtt 5ervice5 not induded atx)ve 2.S22 2.408 Page 22
THE MARTIN RESIDENTIAL TRUST {A Company limited by gu•rantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OECEMBER 2020 Staff costs 2020 2019 Wages and salaries Social security costs ConlriLwliM to defined wthbLthn pension sceme5 96S,741 71,080 68.376 985,717 72,201 66.621 1,10S,197 1. 124,539 The average jMl of persons employed by the ch8rityduTing the yeaf was as follows." 2020 No. 2019 Direct charitable S3 57 Administrative 57 61 No employee receibryl remunerat)n aMnb"A9 to more than t.Cl) in erther year. 10. Trustees. remuneralion and expenses Dsjring the year. Trustees recei4d any remurwaticwt or oiw berEfrts (2019- £NIL). During thè year ended 31 De¢nber 2020. no Truslee exFenses ha¥E been incurred (2019- £NILJ. Page 23
THE MARTIII RESIDENTIAL TRUST IA company limited by guarnntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 21120 11. Tangl? fixed assets Freehold Motor Fixlures #nd pvoperty vehicles frttings Total Cost orvalualion At 1 January 2020 Addition5 1.787.$55 69.039 337.625 3.862 2.194,219 3,862 Al 31 Decernber 2020 1.787.555 69.039 341,487 2.198,081 Oeprecialion Al 1 January 2020 Charge fw Ihe year $88.073 23.979 22.699 9.268 315.2Q6 8.611 925,978 41,858 At 31 December 2020 612.052 31.967 323,817 967.836 N¢t book value At 31 December 2020 1.17S.503 37.072 17.670 1,230,245 At 31 DeGember2019 1. 199.482 46,340 22,419 1,2fja,24q 12. Investrnent property FYe¢hold iwiestment property Valuation Al 1 January 2020 265.000 Al 31 Dewnber 2020 265.000 The valuatKJns We male bythe Twstees. on an open market Wdlue for existiro use basi5. Page 24
THE MARTIN RESIDENTIAL TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 13. Fixed asset investments Listed investments Cost or valuatlo At 1 January 2020 Addition5 Disposals Revaluatsijns 577,975 153,481 {141,1471 4,029 At 31 December 2020 S94,338 Not book valu• At 31 Oecember 2020 594.338 At 31 DeGember2019 57T.975 14. Dtbtora 2020 2019 thje wilhin one yar Other deblors PrepayThent5 and acuLd income 5.760 15.185 6.531 11,838 20.94S 18,369 Page 25
THE MARTIN RESIDENTIAL TRUST IA company limited by guarnntee) NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 DECEM8ER 2020 15. Creditors: Amounts falling due within one year 2020 2019 Trade creditors Othèr tsxakn.on and SLxial sècurity AcLruas and de*eThed income 7,561 17.587 17.391 12, 791 16,413 17.911 42.539 47,115 l& Financial Instrum•nts 2020 2019 Fin•nci¥l •¥sets Finala1 assets Measured * fair value ihrough irwne and expenditure 480.392 445.783 Finan¢ial assets measured at f¥ ¥alue thro irw))me and expenditure ojmprise cash and cash equbvalents. Page 26
THE MARTIN RESIDENTIAL TRUST IA company limited by guarnnteèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 17. Statement of fund$ Slatement of funds- current•1 8alance at 31 Gainsl December {Lo$srt} 2020 Bal•n¢e at I Janu¥ry 2020 Inc¢)me Expendituve UnStrICted funds Gerwal Funds Revaluation rese* 1507.254 1.369.831 21.1]00 11.359.644) 9,940 2.527.381 21,1)00 2.528.254 1.369.831 11.359.644) 2,548.381 ststement ol funds . Wiof al B8lar¢e 31 Gain Decembe (Loss•s) 2019 Balarte al 1 January 2019 Expgnthiurg Unrestricled funds Dèsignated funds Designated Funds 2.201.904 2,201,904 General funds General F5 Revaluab"on reser%e 293,943 1,401 180 (1,427,605) 36.832 305.350 21.L 314.943 1.402.180 {l.427.fIs} 36.832 326,3XI Tolal Unmtricted funds 2.516.847 1,402.180 11.427,e5) 36.832 2.528,254 Page 27
THE MARTIN RESIDENTIAL TRUST IA ¢tffipany limited by guaTrnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2Q20 18. Summ•ry ot fvnds Summary of funds- Cun• 41 Balance at 31 Goin December (Losses) 2020 Balance •t 1 January 2020 Income E¥pendiiure General funds 2.528.2S4 1.369.831 11.359,6441 2.548,381 Summary of funds- prior year Balance al 31 Decembei 2019 Balance at l January 2019 (Lossesj Desunaled fu15 General luThJ$ 2.201.904 314,943 2,201,904 326,350 1,402, 180 (1.427,605) 36.832 2.516.847 1.402. 180 (1.427,605) 36,832 2,528,254 19. AnafyBi$ of net assets between fvnd* Anatysis of net assets beiween funds- current peiiod Llnrestricted funds 2020 Totsl fund5 2020 Tangible fixed assets Fixed asset investments Investment property Current assels Creditors the 1.230,245 594,338 265,OCiI 501,337 (42.539) 1,230.24S 594,338 265.000 501.337 142.5391 Tolal 2,548,381 2,548.381 Page 28
THE MARTIN RESIDEMTIAL TRUST IA company limitèd by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECeM8ER 2020 19. Ana1$ of net assets between funds Icontinuedl Anafysls of n•t between funds - prior period UnrestriGt8d funds 2019 Total funds 2019 Tangle fLxed assets Fixèd ass invÈstments Investment property Current assets Crethlors due witrM"n one year 1,268,241 577,976 265,000 464,152 (47,114} 1,268,241 577,976 265,¢0 464, 152 (47, 114J Tolal 2.528,255 2.528.255 20. Reconciliation of net movement in funds to frtt ¢a$h ftow from operatlng activil•es 2020 2019 Net incomelexpendrture for perK)d {as Statement of Finala1 Acts'mtiesl 16.098 {21.078) Adjustmetrts for. Oepreciation charges {Gains)oSseS on instMe1 Oi¥idends. interests and rents from in%Estments Lo${prOTl on the sale of frAed assets tlecrèasÈllin¢xeasel in deb In¢reaselldeueasel in ueditys 41,8S8 IS.911} 124.159 44,775 f4,347) (22,823) f1,983) 3, 150 518 (2.576 {4.575) N•t eash provided byllused Inl operating activilies 20,735 f1.786J 21. Analysis of cash and cash equivalents 2019 Cash in ha4 480,392 445,783 Total cash and cash equivalents 480.392 445, 783 Page 29
THE MARTIN RESIDENTIAL TrUST IA cornpany limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 22. Analysis of changes in net debt At31 Decembèr 2020 January 2020 Cash flows Cash at bank and in hand 445.783 34.609 480.392 445.783 34,609 480.392 2& P¢nsion ¢ommitm¢nts The o)mpany opefates a defined c4)ntribAons Fens scheme. The assets ol the 5theme are held separately from those of the ¢ompany in an independentty administered fund. The pension cost charge represents conlrilxjtions payab by the company to the fund and amounted to £68.37612019'. £66.621}. 24. Related party transactio During the year, three directors receibEd salaries totsllirg È10B.572 12019". t10Y,0371. The directors also had use of a cc¥npany car. Salaries recei4Ed were qualty.rg 5eNces lo the ¢ompany, atvj nol for seNce$ as d1Clor$. 25. Controlling party The board of Trustees are the uknm8te ct*ntrolry party ofthe ctynpany. 26. Amount held on behalf of third parties The ¢Miparry hokls bank on behall of its resthts. These bank accounts are not induded in t Trust's financial slatement5. At thè balanee sheet date, the amounts held in these accounts amounted lo £l81.{2019.' £179.0921.