Registered number: N1037376
Charity number: NIC101830
THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Company, its Trustees and advisers
Trustees, report
Independent auditors. report on the financial statements
Statement of financial activities
10
Balance sheet
Statement of cash flows
13
Notes to the financial statements
14-27

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Nigel McFarland
Timothy Martin
Dawn Bowers
Lisa McFadand
Robert Greer
Company registered
number
N1037376
Charity registered
number
NIC101830
Registered office
48 Ballyclare Road
Glengomiley
BT36 5HL
Chief executive officer
Nigel McFarland
Independent auditors
UHY Hacker Young Fitch Limited
ststLrtory Auditors & Chartered Accountants
Suite 2.06. Custom House
Custom House Square
Belfast
Antrim
BT13ET
Page 1

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Truslees present their annual report together wth the audited financial statements of the Company for the 1
January 2023 to 31 December 2023. The Annual report serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confimi that the Annual report and financial statements of the
charitable company comply with the current statutory requirements, the requirements of the Charitable Company's
governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to
charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualffies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Structure, govemance and management
a. Constitution
The Martin Residential Trust is registered as a charitable company limited by guarantee and was set up by a
Memorandum of Association on 15th November 1999.
The charitable company is a registered charity with the Charity Commission in Northern Ireland under number
NIC101830 and is recognised as a charity by HMRC, number XN79517.
b. Methods of appointment or election of Trustees
As required on an ad hoc basis the board members discuss the appointment of potential new members for
appointment to the board. Suitable people are approached and if they are wlling to serve on the board, their
nomination is put forward for approval by the board. There is no maximum temi of offi￿.
. Organisational structure and decision-making policies
The board is responsible for the review of all activities and approval of future strategy. Meetings of the board are
held a minimum of three times per annum. The general manager is responsible for all day to day matters.
d. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the
operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Plans for fvture periods
The company intends to build a small facility for the benefit of profoundly disabled people at some point in the
future, and have invested designated funds for this purpose. At the moment there are no definite plans or
ommitments in place to build this new unit
Objectives and activities
a. Policies and objectives
The objectives of the company continued to be that of providing loving care to people wth profound learning
disabilities, which is achieved through the running of a care facility in Glengormley.
Page 2

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Objectives and activities (continued)
b. Strategies for achieving objectives
The Martin Residential Trust provides 24 hour nursing care and support to people wth profound and in many
cases multiple physical disabilities at our care facility in Glengormley. We are experienced in supporting people
who have conditions such as epilepsy, Alzheimerfs disease, autistic spectrum disorder, Down's syndrome,
cerebral palsy, dysphasia and musculoskeletal disorders.
c. Activities undertaken to achieve objectives
Within the Martin Residential Trust. we are able to provide a safe, supportive and caring environment for
vulnerable people. There is always a qualified nurse on duty and W￿ provide a high level of staffing in order that
we can appropriately support people who have complex needs. We have suitable facilities to assist people who
have physical disabilities, including overhead hoists and ac￿Ssible transport. We also support people to take
part in a full activity programme that is suited to their individual needs. Activities can range from arts and crafts,
ookery, sensory activities, hydrotherapy sessions and physiotherapy and the person's activity plan is suited to
their assessed individual needs. Our wide range of facilities and our breadth of experience mean that we are
able to be very responsive to changes in a persons needs or health.
d. Public benefit declaration
The direct public benefit which flows from our purpose is the provision of accommodation and nursing care for
people living in Northern Ireland who have profound learning disabilities.
e. Main activities undertaken to further the Company's purposes for the public benefit
The provision of 24 hour nursing care and support to those people living in Northern Ireland throughout the year
who have profound leaming disabilrties is of direct benefit to the public. These benefits can be demonstrated
through, feedback from users and their relatives, nursing and medical assessment of health outcomes, and
independent evaluation by regulatory bodies.
In providing nursing care there is a risk associated wth administering prescribed medical treatments such as
medicines aimed at treating health conditions. These risks are medically assessed and are Ou￿elghed by the
benefits to the service user. Those administering or working for the organisations may incidentally benefit from
our purpose if their relative receives nursing care. In such cases the relative must fulfill the requirements of
admission and wll not receive preferential treatment.
Achievements and performance
. Review of activities
During the year we continued to provide 24-hour nursing care to 18 people wth profound disabilities, all of ￿0M
reside pemianently wthin the Home. Many of our Residents have lived in the Martin Trust for 20+ years and we
were pleased to welcome 2 new Residents into the Home during 2023.
Staff levels remained very stable, only 3 new employees recruited to fill vacancies for a few staff who left for
other career opportunities. The Home employed an average of 61 people throughout the year with no changes
thin Management or Director positions.
The Home continued to work with the local Health Trusts and RQIA to meet our objectives and received positive
feedback from inspections throughout the year.
The results for the year are set out in the attached financial statements that show a surplus of £40,310 {2022'.
deficit £42,958). The results and the financial position were considered satisfactory by the Trustees.
Page 3

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
. Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue is operational existence for the foreseeable future. For this reason, they continue to adopt
the going concem basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the Accounting Policies in note 2.
b. Reserves policy
It is the policy of the charity that unrestricted general funds which have not been designated for specrfic use
should be maintained at a level equivalent to belween three and six month's expenditure. The Trustees consider
that reserves at this level wll ensure that, in the event of a significant drop in funding, they will be able to
continue the company's current activities ￿lIe consideration is given to ways in which additional funds may be
raised. This level of reserves has been maintained throughout the year.
The Trustees have designated funds of £2.2million for the property and for future capital projects.
c. Principal funding
The company's primary source of funding continued to be from local Health Trusts.
Members. liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the
Company in the event of winding up.
Statement of Trustees. responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for
preparing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial ststements for each financial . Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the Company and of its incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles of the Charities SORP {FRS 102).,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Company wll continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose wth reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the financial statements comply wth the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Page 4

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Disclosure of infomiation to auditors
Each of the persons who are Trustees at the time bthen this Trustees, report is approved has confirmed that:
so far as that Trustee is aware, there is no relevant audit information of vthich the charity's auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, UHY Hacker Young Fitch Limited, have indicated their y￿ll1ngness to continue in office. The
designated Trustees wll propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on ?1 A..J￿151 ?If4 and signed on their behalf by:
n/A IAJ
Nigel McFarland
(Trustee)
Lisa McFarland
(Trustee)
Page 5

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
Opinion
We have audited the financial statements of The Martin Residential Trust {the 'charitable company,) for the year
ended 31 December 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement
of cash flows and the related notes. 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 charitable company's affairs as at 31 December 2023 and of its
incoming resources and application of resources, including its income and expenditure for the year then
ended.,
have been properly prepared in accordance with United kQ'ngdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance v￿th Intemational Standards on Auditing (UK} IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our reporL We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance wth 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 going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going con￿rn for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees V￿th respect to going concem are described in the
relevant sections of this report.
Page 6

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Other inforniation
The other information comprises the infonnation included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent othemise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our kn￿￿edge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that facL
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the infomiation given in the Trustees, report for the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our kno￿edge and understanding of the charitsble company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the foll0v￿ng matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Trustees, remuneration spectfied by law are not made,. or
we have not received all the information and explanations we require for our audit- or
the Trustees were not entilled to prepare the financial statements in accordance wth the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees, report and
from the requirement to prepare a Strategic report.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement. the Trustees {who are also the directors 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 determine 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 Trustees 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 liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Page 7

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Auditor5. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance aboLrt whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wth ISAS (UK) wll a￿yS detect a material misstatement when it 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 users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to vthich our procedures are capable of detecting irregularities, including fraud is
detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows.
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. As part of the
audit in accordance with ISAS (UK) we exercised professional judgement and maintained professional
scepticism throughout the audit. We identified the lavts and regulations applicable to the company through
discussions with directors and other management. and from our commercial knowledge and experience of the
sector and we focused on specific lavts and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company. including the Companies Act 2006 and the
Charities Act (Northern Ireland) 2022.
We assessed the susceptibility of the companls financial statements to material misstatement, induding
obtaining an understanding of how fraud might occur, by making enquiries of management as to where they
considered there was susceptibility to fraud. their kno￿edge of actual, suspected and alleged fraud and
onsidering the internal controls in place to mitigate risks of fraud and non-compliance wth laws and regulations.
We obtained an understanding of intemal controls relevant to the audit in order to design audit procedures that
were appropriate in the circumstsnces but not for the purpose of expressing an opinion of the effectiveness of
the Company's intemal controls.
To address the risk of fraud through management bias and override of controls, we performed analytical
procedures to identify any unusual or unexpected relationships- tested joumal entries to identify unusual
transactions,. evaluated the appropriateness of accounting policies used, including managements, use of the
going concern basis of accounting. and the reasonableness of accounting estimates and related disclosures
made by management,. and investigated the rationale behind significant or unusual transactions.
In response to the risk of l￿egUlarltieS and non-compliance wth laws and regulations, we designed procedures
which included but were not limited to agreeing financial statement disclosures to underlying supporting
documentation,. reading the minutes of meetings of those charged with governance,. and enquiring of
management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit. there is a risk that y￿ wll not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance wth regulation. This risk
increases the more that compliance wth a law or regulation is removed from the events and transactions
reflected in the financial statements, as we viill be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularrties occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. wvM.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 8

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Use of our report
This report is made solety to the charitable company's members, as a body, in accordance wth Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an Auditors, report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have formed.
Michael Fitch (Senior statutory auditor)
for and on behalf of
UHY Hacker Young Fitch Limited
Statutory Auditors & Chartered Accountants
Suite 2.06, Custom House
Custom House Square
Belfast
Antrim
BT13ET
21 August 2024
UHY Hacker Young Fitch Limited are eligible to act as auditors in terms of section 1212 of the Companies Act
2006.
Page 9

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Totsl
funds
2023
Total
funds
2022
Note
Income from:
Donations, grants and legacies
Charitable activities
Investments
4,575
1,668,704
28,588
4,575
1,668,704
28,588
44,284
1,544,207
26, 888
Total income
1,701,867
1,701,867
1,615,379
Expenditure on:
Charitable activities
1,688,098
1,688,098
1,579, 191
Total expenditure
1,688,098
1,688,098
1,579,191
Net income before net (losses)Igains on
investments
Net (losses)Igains on disposal of investments
Net movement in funds before other recognised
gainsl{losses
13,769
(8,373)
13,769
18,373
36, 188
12,492
5,396
5,396
48, 680
Other recognised gainsl(losses):
{Losses}Igains on revaluation of investments
34,914
34,914
(91,638)
Net movement in funds
40,310
40,310
(42, 958)
Reconciliation of funds:
Total funds brought foThvard
Net movement in funds
2,564,190
40,310
2,564,190
40,310
2,607, 148
(42, 958)
Total funds carried forward
2,604,500
2,604,500
2, 564, 190
The Statement of financial activities indudes all gains and losses recognised in the year.
The notes on pages 14 to 27 fomi part of these financial statements.
Page 10

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: N1037376
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
1.204.632
582,721
265,000
1,190,2T3
559, 003
265, 000
13
Investment propety
12
2,052,353
2,014,276
Current assets
Debtors
Cash at bank and in hand
14
34,947
605,970
35, 623
591, 696
640,917
627,319
Creditors.. amounts falling due v￿thin one
year
15
188,770
(77,405)
Net current assets
552,147
549,914
Total assets less current liabilities
2,604,500
2, 564, 190
Net assets excluding pension asset
2,604,500
2, 564, 190
Total net assets
2,604,500
2, 564, 190
Charity funds
Restricted funds
17
Unrestricted funds
Designated funds
General funds
Revaluation reserve
17
2,201,904
381,596
21.000
2,201,904
341, 286
21,000
17
Total unrestricted funds
17
2,604,500
2, 564, 190
Total funds
2,604,500
2, 564, 190
The Trustees aCknO￿edge their responsibilities for complying with the requirements of the Act wth respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
Page11

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
REGISTERED NUMBER: N1037376
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial ststements were approved and authorised for issue by the Trustees on 21 August 2024 and signed
on their behalf by..
l_il
Nigel McFarland
(Trustee)
Lisa McFarfand
(Trustee)
The notes on pages 14 to 27 form part of these financial statements.
Page 12

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from operating activities
Net cash used in operating activities
26,368
32, 599
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
28,588
16.114
(67,990)
107,476
(96,280)
26, 888
(28, 436)
127,93T
(188,399)
Net cash used in investing activities
112.092)
162,010)
Cash flow3 from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
14,276
(29,411)
621, IOT
591.696
Cash and cash equivalents at the end of the year
605,972
591,696
The notes on pages 14 to 27 forni part of these financial ststements
Page 13

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General infomiation
The Martin Residential Trust is a charitable company limited by guarantee and is incorporated and
registered in Northern Ireland under company registration number N1037376.
The charitable company's registered office is situated at 48 Ballyclare Road, Glengormley, Co. Antrim
BT36 5HL.
The principal activity of the company is providing loving care to people y￿th profound learning disabilities.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) {effective 1 January 2015), the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
The Martin Residential Trust meets the definibon of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwse stated in the
relevant accounting policy.
2.2 Going concern
The charitable company's activities. together with the factors likely to affect its future development,
performance and financial position are set out in the Trustee's Report. The financial position of the
charity. along with its policies and processes for maintaining current activity, managing its funding
and its financial risk management are also set out in the Trustees Report.
The Charity continues to meet its day to day working capitsl requirements. the charity's forecasts and
projections show that the charity will be able to operate ￿thin its current facilities.
After making enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources to continue in operation for the foreseeable future. Accordingly, the Trustees continue to
adopt the going concem basis in preparing the annual report and financial statements.
2.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the
income wll be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial actiwties on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
fijnds on the Balance sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received. the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
Page 14

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in setuement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned bets￿en those activities on a basis consistent wth
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
harges allocated on the portion of the asset's use.
Expenditure on charitable activities is InCu￿ed on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tsngible fixed assets are treated as deferred income and released to
the Statement of financial activities over the expected useful lives of the assets concerned. Other
grants are credited to the Ststement of financial acts'vities as the related expenditure is incurred.
2.6 Interest receivable
Interest on funds held on deposit is induded when receivable and the amount can be measured
reliably by the Company., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
At each reporting date the Company assesses whether there is any indication of impaimient. If such
indication exists. the recoverable amount of the asset is determined to be the higher of its fair value
less costs to sell and its value in use. An impaimient loss is recognised where the carrying amount
exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the foll0v￿ng basis=
Freehold property
Motor vehicles
Fixtures and fittings
4% reducing balance
200A reducing balance
20% straight line
Page 15

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.8 Inveslments
Fixed asset investments are a fomi of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in vthich case rt is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments. in the Statement of financial activities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it wll pay to settle the debt or
the amount it has received as advanced payments for the goods or seNices it must provide.
2.12 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their setdement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.13 Finance leases and hire purchase
Assets obtained under hire purchase wntracts and finance leases are capitalised a5 tsngible fixed
assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases
are those ￿ere substantially all of the benefits and risks of ownership are assumed by the
Company. Obligations under such agreements are included in creditors. net of the finance charge
allocated to future periods. The finance element of the rental payment is charged to the Statement of
financial activities so as to produce a constant periodic rate of charge on the net obligation
outstsnding in each period.
2.14 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the Company to the fund in respect of the year.
Page 16

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and vthich have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations. grants and legacies
Unrestricted
funds
2023
Total
funds
2023
Donations
4,575
4.575
Unrestricted
funds
2022
Total
funds
2022
Donations
Grants
Government grants
7.377
23, 369
13,604
7,311
23, 369
13,604
Total 2022
44,284
44, 284
Page 17

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from charitable activities
Unrestricted
funds
2023
Total
funds
2023
Income from charitable activf(ies- Providing care for people wth profound
learning disabilities
1,668,704
1,668,704
Unrestricted
funds
2022
Total
funds
2022
Income from charitable activrties- Providing care for people with profound
learning disabilities
1, 544,207
1,544,207
Investment income
Unrestricted
funds
2023
Total
funds
2023
Investment income- investment properties
Income from listed investments
Investment income- cash
11,600
14,403
2,585
11,600
14,403
2,585
Total 2023
28,588
28,588
Unrestncted
funds
2022
Total
funds
2022
Investment income- investment properties
Income from listed investments
Investment income- cash
15,250
10, 193
1,445
15,250
10,193
1,445
Total 2022
26, 888
26, 888
Page 18

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2023
Total
2023
Providing care for people wth profound learning disabilities
1,688,098
1,688,098
Unrestricted
runds
2022
Total
2022
Providing care for people profound learning disabilities
1,579, 191
1,579, 191
Analysis of expenditure by activities
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Providing care for people profound leaming disabilities
1,612,419
75,679
1,688,098
ActNit￿S
undertaken
directly
2022
Support
costs
2022
Total
funds
2022
Providing care for people y￿th profound learning disabilities
1,514,715
64,477
1,579, 192
Page 19

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Auditors. remuneration
2023
2022
Fees payable to the Company's auditor for the audit of the Company's
annual accounts
3,020
2,805
Fees payable to the Company's auditor in respect of=
All non-audit services not induded above
2,883
2,673
Staff costs
2023
2022
Wages and salaries
Social security Costs
Contribution to defined contribution pension schemes
1,221,934
90,257
42.285
1, 166,546
85, 320
38, 402
1,354,476
1,290,268
The average number of persons employed by the Company during the year was as follows:
2023
No.
2022
No.
Direct charitable
57
59
Administrative
61
63
The number of employees vthose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2023
2022
In the band £60,001- £70,000
During the year key management, including one Trustee, received salaries including employers national
insurance and pension contributions totalling £65,462 (2022.. £58,806)
10.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefrts for serving as Trustees (2022 -
£NIL).
During the year ended 31 December 2023. no Trustee expenses have been incurred (2022 - £NIL).
Page 20

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Tangible fixed assets
Freehold
property
Motor Fixtures and
vehicles
rittings
Total
Cost or valuation
At 1 January 2023
Additions
Disposals
1.787,555
69,039
52,795
(31.745)
378,231
15,195
2,234,825
67,990
(31,745)
At 31 December 2023
1,787,555
90,089
393,426
2,271,070
Depreciation
At 1 January 2023
Charge for the year
On disposals
657,171
21,215
45.313
11,250
(21.815)
342,068
11,236
1,044,552
43,701
(21,815)
At 31 December 2023
678,386
34,748
353,304
1,066,438
Net book value
At 31 December 2023
1.109,169
55,341
40,122
1,204,632
At 31 December 2022
1, 130,384
23, 726
36, 163
1,190,273
12. Investment property
Freehold
investment
property
Valuation
At 1 January 2023
265,000
At 31 December 2023
265,000
The valuations were made by the Trustees, on an open market value for existing use basis.
Page 21

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13.
Fixed asset investments
Listed
investments
Cost or valuation
At 1 January 2023
Additions
Disposals
Revaluations
559,003
96,280
(107,476}
34,914
At 31 December 2023
582,721
Net book value
At 31 December 2023
582,721
At 31 December 2022
559, 003
14. Debtors
2023
2022
Due within one year
Trade debtors
1,891
10,419
22,637
Other debtors
Prepayments and accrued income
16,083
19,540
34,947
35, 623
Page 22

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15.
Creditors: Amounts falling due within one year
2023
2022
Trade creditors
other taxation and social security
Accruals and deferred income
10.399
27,675
50,696
T,24T
22, 148
48,010
88,770
77,405
16. Financial instruments
2023
2022
Financial assets
Financial assets measured at fair value through income and expenditure
605,970
591,696
Financial assets measured at fair value through income and expenditure comprise cash and cash
equivalents.
Page 23

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17. Statement of funds
statement of funds - current year
Balance at
31
Gainsl December
(Losses
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted fvnds
Designated funds
Designated Funds- all funds
2,201,904
2,201,904
General funds
General Funds
Revaluation reserve
341,286
21,000
1,701,867
11,688,098>
26,541
381,596
21,000
362,286
1,701,867
11,688,098>
26,541
402,596
Total Unrestricted funds
2,564,190
1,701,867
11,688,098>
26,541
2,604,500
Statement of funds - prior year
Balance at
31
December
2022
Balance at
l January
2022
Gains/
(Losses)
Income Expenditure
Unrestricted funds
Designated funds
Designated Funds
2,201,904
2, 201, 904
General funds
General Funds
384,243
21.000
1,615,380
(1,579, 191)
(79, 146)
341,286
21,000
Revaluation reserve
405,243
1,615,380
(1,579, 191)
(79, 146)
362, 286
Total Unrestricted funds
2.607. 147
1.615,380
(1,579, 191)
(79, 146)
2, 564, 190
Page 24

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Summary of funds
Summary of funds - current year
Balance at
31
Gainsl December
(Losses
2023
Balance at 1
January
2023
Income Expenditure
Designated funds
General funds
2,201,904
362,286
2,201,904
402,596
1,701,867
11,688,098)
26,541
2,564,190
1,701,867
(1,688,098)
26,541
2,604,500
Summary of funds- prioryear
Balance at
31
December
2022
Balance at
1 January
2022
Gains/
(Losses)
Income Expenditure
Designated funds
General funds
2,201,904
405,243
2, 201, 904
362, 286
1,615,380
(1,579, 191)
(79, 146)
2,607, 147
1,615,380 (1,579, 191)
(79, 146)
2, 564, 190
19. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Investment propety
Current assets
1,204,632
582.721
265,000
640,917
(88,770}
1,204,632
582,721
265,000
640,917
(88,770)
Creditors due wthin one year
Total
2,604,500
2,604,500
Page 25

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. Analysis of net assets between funds Icontinued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
1, 190,273
559, 003
265, 000
627,319
(77,405)
1,190,273
559, 003
265, 000
627,319
(77,405)
Investment propety
Current assets
Creditors due within one year
Total
2, 564, 190
2, 564, 190
20. Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Net income for the year (as per Statement of Financial Activities)
5,396
48, 680
Adjustments for:
Depreciation charges
Dividends, interests and rents from investrnents
Lossl{profit) on the sale of fixed assets
Decreasel(increase) in debtors
Increasel(decrease) in creditors
43.701
(28,588)
16,182}
676
11,365
36,517
(26, 888)
(11, 743)
(13,967)
Net cash provided by operating activities
26,368
32, 599
21.
Analysis of cash and cash equivalents
2023
2022
Cash in hand
605,972
591,696
Total cash and cash equivalents
605,972
591,696
Page 26

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
22. Analysis of changes in net debt
At1
January
2023 Cash flows
At31
December
2023
Cash at bank and in hand
591,696
14,274
605,970
591.696
14.274
605.970
23.
Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently adminislered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £42,59212022.' £38,402).
24. Related party transactions
During the year. two Trustees received salaries totalling £113,893 (2022= £106,346) including employers
national insurance and pension contributions. The Trustees also had use of a company car. Salaries
received were for qualifying services to the company, and not for services as Trustees.
25. Post balance sheet events
In common many other charities of our size and nature, we use our auditors to assist with the
preparation of financial ststements.
26. Controlling party
The board of Trustees are the ulb.mate controlling party of the company.
27. PAASE disclosure
In common wth many other charitsble company's of our size and nature, we use our auditors to assist
th the preparation of financial statements.
28. Amounts held on behalf of third parties
The company holds bank accounts on behalf of its residents. These bank accounts are not included in
the Trust's financial statements. At the balance sheet date, the amounts held in these accounts
amounted to £264.785 {2022'. £259,052).
Page 27