Charity registration number 104052
Company registration number N1630824 (Northem Ireland}
BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
LEGALAND ADMINISTRATIVE INFORMATION
Directors
Sir N Hamilton KCB, DL
Mr G Nelson
Mr T Andrews
Dr RAdair CBE
Ms M Montgomery
Dr B Kealing CBE
Mr M Gilmore QPM
Mr F Shivers
{Appointed 28 September 2022)
Charlty number
104052
Company number
N1630824
Princlpal address
Belfasl Boys Model School
Ballysillan Road
Belfast
BT14 6RB
Registered office
Belfast Boys Model School
Ballysillan Road
Belfast
BT14 6RB
Independent examiner
GMCG LISBURN
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
Bankers
Danske Bank
Belfast Finance Centre
PO Box 183
Donegall Square West
Belfast
BT16GE

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
CONTENTS
Page
Direclois Teport
Independent examinels report
statement of financial activities
Statement of financial position
Noles to the financial statements
9-13

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
DIRECTORS REPORT
FOR THE YEAR ENDED 30 APRIL 2023
The directors are pleased to present their report and financial slalements for the year ended 30 April 2023.
The financial statements have been prepared in accordance wllh the accounting policies set out in note 1 to the
financial stalements and comply wilh the charily's Memorandum and Articles of Association, the Companies Act
2006 and "Accounling and Reporting by Charities- Statement of Recommended Practice applicable to charities
preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) (effeclive 1 January 2019)"
Chairfs report
11 continues to be my privilege to be the Chair of the Fund and, on behalf lo my fellow Directors, to Provide this
Annual Report on the state of the Fund as at 30 April 2023.
I must record sincere appreciation to the Secretary. Dr Bryan Keating, and Ihe Treasurer, Dr Roy Adair for their
commitment and professionalism throughout the year in exercising their responsibilities. The Board was very
pleased during Ihe year to appoint Mr Frank Shivers as a Director. In addition, the Board also appointed three
former Directors, MrAlan Braiden, MrAlan Logan and Mr Jim Keith, to act as Ambassadors for the Fund.
The Fund was established in 2015 and its purposes are outlined in Ihe attached Report. During the year in
qLtestion, the officers of the Fund undertook a detailed Review of the role, purpose, success to date elc. of the
Fund. Consequently, at a subsequent meeting Ihe Board unanimously agreed lo conllnue with the objectives and
modus operandl, subject to several changes in relation to the amount awarded in respect of each Bursary, as
outlined below. The Directors have always considered it imperative to ensure that all the activities of Ihe Fund
comply fully wilh the relevanl governing regulations and legislalive requiremenls, and we believe Ihat, to the best
of our knowledge, we complied with all such requiremenls in 2022-2023.
The year 2022-2023 saw a fijrther slrengthening of the Fund's finances. Given Ihe reseNes build up the Board
had confidence it could and should look lo increase the funds distributed. In addition, the amount awarded for
Bursarles has not increased since the first awards in 2016, the Board determined that the level of Bursary for
University awards for both new and existing award winners should increase lo £1,200 annually. The Board also
receives feedback on the importance of these Bursaries for award winners and, with Ihe help of the senior staff in
Ihe school, introduced additional reporting systems to ensure Ihal the Board can chart the progress of the award
winners. The Board also continued ils policy from previous years of awarding one-off bursaries to the runners up
in each category and to an HND student.
From the establishment of the Fund, the Board has had the closesl possible relationship with the school, and this
continuad throughout 2022-2023. It is the role of the Board to raise the necessary funds , and the role of the
school lo draw up and review the criteria on which bursaries are awarded annually. The Board greatly values the
presence of the Principal, Mrs Mary Montgomery as a Director and although falling just outside the period of this
Report, were delighted thal Mrs Montgomery was awarded the OBE in the Birthday Honours 2023 for her
contribution to education. We also want to place on record our sincere appreciation for the contribution of th8
Senior Leadership leam in Ihe school and the Principal's Secretary, Mrs Joanne Clarke.
During Ihe y@ar we had four Board Meetings and, thanks to an anonymous donor, enjoyed a ' Back to School
Dinner, event in the school which enabled the Board to report lo a wider audience on its acllvities and lo ensure
Ihat there is transparency in terms of the work of the Fund. In addition, Ihis event also resulted in several new
donors signing up for regular conlTibulions.
During the year, we also received several significant donalions which enable us to report above on the healthy
state of Ihé Fund's finances. The Board regularly reviews its fund-raising strategy to ensure that it is relevant and
appropriate to the ongoing needs of the Fund.
We are pleased lo report that, as the attached Accounts indicate, by 30 April 2023 Unrestricted Funds had
increased lo £91,211 after having accounted for Bursariès and expenses. The Board has conslantly reviewed its
reseNes and considers them to be healthy but by no means éxcessive, given the age and profile of the donors,
the expansion of the number and level of bursaries and the Board's declared objective of seeking to have
sufficient funds to achieve an endowment position.
The Directors firmly believe that this Fund is invaluable in supporting boys from thé school moving in to third level
Èducalion and look forward lo managing Ihe Fund to ensure that it continues to achieve its objectives.
Sir Nigel Hamilton K C B .' D L.

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
DIRECTORS REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
Objectlves and activitles
The charity's objects are to advan￿ and promote the education of the pupils at Belfast Boys, Model School by
providing bursaries or other financial assistance to pupils who progress lo third level education.
Arising from the purposes, our aclivilies focus on two key strands. fund raising and the crealion of a clear, fair
and equitable process for Ihe maklng of the awards.
As noted in last year's report the Board set an objective to make additional annual awards for HND and Higher-
Lev@[ Apprenliceships.
It is also important to say that Ihe existence of the Fund and its core objectives were agreed with the school
Board of Governors, as was the full participation of the then Principal, Mr Alan Logan as a Difeclor of Ihe Fund.
The Currenl Principal, Ms Mary Montgomery is a member ofthe Board and fully endorses the work of the Fund.
The diredors have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charily should undertake.
Achievements and perfomiance
Our activities have been shaped by the need to raise sufficient funds lo ensure that the awards, when made, can
be fully funded for the tenure of each bursary. It was determined by the Board that, initially, three bursaries
should be awarded each year.
The Board was of the view that awards should be performance driven and was grateful that the school endorsed
this approach and agreed to draw up the criteria against which Ihe first three awards would be made.
The school's proposal which was fully endorsed and agreed by the Board was to target three key areas of study
in the school, namely.. STEM subjects {including Technology, Mathematics and Science), Vocalional subjecls
(including IT, Traveirrourism and Public Service) and General subject5 (including History, Politics, Media Studies
and Art).
Further, il has been our ambition lo be able lo commit to the award of bursaries some years ahead and whilsl this
reinforced the view Ihal three was the correct number of awards to start wilh, we have taken aclion to increase
the number of bursariès to be awarded.
The school ensured that every pupil eligible for a bursary was aware of the criteria from the beginning of the
school year. Following examination results in August each year, three bursariès are awarded lo the three pupils
who besl met the criteria oullined above. Each bursary in total amounts lo £3,000 and is paid over a period of
three years dependent upon continuing academic attendance in further education by the pupils concemed. In
addition, each year the Board ¢onsiders the award of one-off awards on an ad-hoc basis.
Financial review
The Dire¢tOTS raised funds during the year by direct conlact wlth a number of former puplls, who were advised of
the existence and purpose of Ihe Fund, and then invited to contribute by a one-off gifl. or by regular monthly
donalions through Direct Debit or both.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
grown to allow the charity to adopt an endowmenl approach to funding thal is looking to providing funding from
investment income.
The directors consider that reserves al this level will ensure Ihal, in the event of a significant drop in funding, they
will be able to conlinue the ¢harity's current activilies while consideralion is given to ways in which additional
funds may be raised. This level of reserves has been maintained throughout the year,

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
DIRECTORS REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
During the year, Ihe Fund raised £26,701 (2022.. £34,339) from donations, gift aid and bank inlerest and after
paying and providing for comrnltted bursaries and expenses added £7,797 (2022.. £14.978) to unrestricted funds
which now total £91,211 (2022 £83,414). This ensures Ihat the Bursaries can be funded in Ihe years ahead.
The Directors are pleased with the conlinuing support from both existing and new donors and believe thal the
Fund has good potential to grow In the future.
Structure, governance and management
Belfast Boys. Model Bursary Fund (In Memory of E W Davisl is a private company limited by guarantee and
registered in Northem Ireland (Company Number N1630824).
It is governed by its Articles of Association, dated 1s1 April 2015 and Is registered as a charity with the Charity
Commission Northern Ireland (Charity Number NIC104052).
The Memorandum of Asso¢iation governs all relevant matters relating lo Membership., becoming and ceasing to
be a Membér. the Organisalion of General Meelings., the Role and Powers of Directors (including appointment
and retirement)., Administrative Arrangements,. and Directors Indemnity and Insurance.
The Directors state that they have fully adhered to all such requirements and provisions during the year in
question.
The Board of Directors held regular meetings during the year to rèview the progress of the fund and discuss and
agree the future direction of the fund.
The Directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees
who served durin9 the year in question were as follows..
Sir N Hamilton KCB, DL
Mr G Ne150n
Mr T Andrew5
Mr J Keilh OBE
Dr R Adair CBE
Ms M Montgomery
Dr B Keating CBE
Mr M Gilmore QPM
Mr R Armour
Mr F Shivers
(Resigned 5 May 2022)
(Appointed 5 May 2022 and resigned 21 August 2023)
(Appointed 26 September 2022)
None of the directors has any beneficial interest in the company. All of the directors are members of the company
and guaranlee to contribule £1 in the event of a winding up.

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
DIRECTORS REPORT (COMTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
Durtro lh8 ye8f IhB follthllnu drectors serval as officers of thg tharily..
Sir Nigel Hamlton KCB, DL (Chair)
Dr Roy Adair CBE (Treasuferl
Dr Bryan CBE (Seixelaryl
This report has begn prnpared In 8co)rdanc& wllh lh8 provisions applicablé to comp8nle8 8nlltled io th8 sm811
compenle8' exemplon.
Ire(11>￿ reixyl a￿lh￿Is￿l and apryov8d by Ihg Board of Dr8¢to￿.
Slr N Hamllton KCB, DL
Difg(I

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW
DAVIS)
We report on the accounts oflhe charity for Ihe year ended 30 April 2023, which are set out on pages 7 to 13.
Respective responsibilltles and basls of report
The charity's directors of Belfast Boys Model Bursary Fund (In Memory of EW Davis), are responsible for th8
preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having salisfied ourselves that the charity is not subject to audit under company law and is eligible for
independenl examination, it is our responsibility to:
examine the accounts under seclion 65 of the Charities Act (Northern Ireland) 2008.
lo follow the procedures laid down In the general Directions givèn by the Charity Commission for
Northern Ireland under section 65(9)(b) of Ihe Charities Act., and
lo slate whether particular malters have come to our altenlion.
Basls of Independent examtnefs report
We have examined your charity accounls as required under section 65 of the Charities A¢t and our
examination was carried out in accordance with Ihe general Directions given by the Charily Commission for
Northern Ireland under seclion 65{9){b) of Ihe Charities Act. The examination included a review of thè
accounting records kept by the charlty and a comparison of the accounts presented with those records. It also
include5 consideration of any unusual items or disclosures in the accounts, and seeking explanations from you
as charity trustees con￿rnIng any such matters.
Our role is to state whether any material matters have come to our attention giving us any cause to believe-
That accounting records were not kept in accordance with section 386 of the Companies Act 2006
That Ihe accounts do nol a¢cord with those accounting records
That the accounts do not comply with the accounling requirements of section 396 of Ihe Companies Act
2006 and with the melhods and principles of the Charities Slalement of Recommended Practice
applicable lo charilies preparing their ac¢ounls in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland
That there is further informalion needed for a proper understanding of the accounts to be reached

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
TO THE DIRECTORS OF BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW
DAVIS)
Independent examlner's statement
We have completed our examination and have no concerns in respect of matters 1 to 4 listed above and. in
connection with following the Directions of the Charity Commission for Northern Ireland, we have found no
matters thal require drawing to your atlenlion.
ZJ_
GMCG LISBURN
Chartered Accountants
40 Crescent Business Park
Ballinderry Road
Lisburn
Co Anlrim
BT28 2GN
Dated..

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2023
Unrestrlcted Unrestricted
funds
funds
2023
2022
Notes
Income and endowments from:
Donalions and legacies
Other trading activities
Other income
22,597
880
3,224
21,023
8,140
5,176
Total Income
26,701
34,339
enditure on:
Raising funds
1,000
6,092
Charitable activities
17,904
13,269
Total expenditure
18,904
19,361
Net income for the yearl
Net movement in funds
7,797
14,978
Fund balances at 1 May 2022
83,414
68,436
Fund balances at 30 April 2023
91,211
83,414
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from Continuing activities.
The slatemenl of financial activities also cornplies with the requirements for an income and expenditure account
under the CompaniesAct 2006.

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023
2023
2022
Current assats
Debtors
Cash at bank and In haThl
11
3.219
99,815
5,130
88,184
103,034
93,314
Credltor¥: amounts lalllng du• wlthln
one year
12
(11,823)
19,900)
Net ￿￿en1 assets
91,211
83,414
InGom• fund•
Unrestrided funds
91,211
83.414
91,211
83,414
The company 15 8ntilled lo the 8xempiion Irorn the audil requirement contained in seGtlon 477 of the Companlg5 Acl
20[￿, for the year eThled 30 Apfll 2023.
The direclors athThledge their Ieswm￿1bIlttes for complying with ts requiremerts d thg Companies 2006
y￿th fespect lo a¢o)unting reo)rds arvj the preparation of financid stslefflenls.
Th8 mémb8rg havo not required the comp3ny to obtain an audit of its fin8nci81 Stalernents for the year In quo8tion in
accordance with sedon 476.
These finandal strten￿ts have been prepared In a(wrda)ce the pro*lons applicable to Ll)mpanles subjed
to the small CoMp￿￿S Tegime.
The ffinancial slat8ments vmre approved by the Dlrectors on ..,..,. .. .
13
afxl signed on their behalf by:
Sir N Hamifton KC8, DL
Tru8te•
Or R Adair CBE
Trustee
Company ro91stratlon numb•r N1630824

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 30 APRIL 2023
Accountlng pollcies
Charity infomiation
Belfast Boys Model Bursary Fund (In Memory of EW Davis) is a private company limited by guaranlee
incorporated in Northern Ireland. The re9lStered office is Belfast Boys Model School, Ballysillan Road, Belfast,
BT14 6RB.
1.1 Accounting convention
The financial slatemenls have been prepared in accordance with the charity's Memorandum and articles of
Association,
the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (éffeclive 1 January 2019)" The
charity is a Public Benefil Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bullelin
1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under Ihe historical cost convention. The principal accounling
policies adopted are sel oul below.
1.2 Going concern
At the time of approvin9 the financial statements, Ihe directors have a reasonable expectation that the charity
has adequate resources lo continue in operational exislencè for the foreseeable fLtture. Thus the direclors
Continue lo adopt the going concern basis of accounting in preparing Ihe financial slatemenls.
1.3 Charitable funds
UnrestTi¢ted funds are available for use at Ihe discretion of the directors in furtherance of their charilable
objectives.
1.4 Income
Income is re¢ognised when the charity Is legally enlitled to it afier any performance conditions have been met.
the amounts can be measured reliably, and it is probable Ihat income will be received.
Cash donations are recognised on receipt. Other donalions are recognisèd once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been nolified of an impending distribution,
the amounl is known, and receipt is expected. If the amount is not known. the legacy is Irealed as
contingenl assel.
1.5 Expendlture
Expendilure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a
third party, it is probable that a Iransfer of economic benefits wlll be required in settlement, and Ihe amount of
the obligation can be m8asured reliably.
Expenditure is classified by activity. The ¢ostS of each activity are made up of the total of direct cosls and
shared costs, including support costs involved in undertakin9 each aclivity. Direct costs attributable to a single
activily are allocated directly to that activity. Shared costs which contTibute lo more Ihan one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basi5
consistent wilh the use of resources. Central staff costs are allocated on the basis of time spent, and
deprecialion charges are allocated on the portion of Ihe asset's use.

BELFAST BOYS MODEL BURSARY FUND {IN MEMORY OF EW DAVIS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
Accounting policies (Contlnued)
1.6 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
inveslmenls with original malurities of Ihree months or less, and bank overdrafts. Bank overdrafts are shown
wilhin borrowings in current liabilities.
1.7 Flnanclal Instruments
The charity has elecled lo apply Ihe provisions of Section 11 'Basio Financial Instruments, and se￿lOn 12
'Other Financial Instrumenls Issues, of FRS 102 to all of its financial instruments.
Financial inslruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an Intention to settle on a net
basis or lo realise the asset and settle Ihe liability simultaneously.
Basic financial assets
Basic financial assels, which include debtors and ¢ash and bank balances. are initially measured at
Iransaction price including transaclion costs and are subsequently carried at amortised cost using Ihe effective
interest melhod unless the arrangement constitLttes a financing transaction, where Ihe transaction is
measured at the present value of the future receipts discounted at a market rate of interesl. Financial assets
classified as receivable within one year are not amortised.
Baslc flnanclal Ilabllltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement conslitules a financing transaction, where the debl instrument is measuTed at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
wlthln one year are not amortised.
Debt instruments are subsequenlly carried at amortised cost, using the effective interest rate melhod.
Trade creditors are obligations to pay for goods or services that have been acqulred in the ordinary course of
operations from suppliers. Amounts payable are classified as currenl liabililies if paymenl is due within one
year or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognised initially al
transaction prlce and subsequently measured at amortised cost using the effective inlerest melhod.
Derecognltlon of flnanclal Ilabililies
Financial liabilities are derecognised when the charity's contraclual obligations explre or are discharged or
cancelled.
Donations and legacles
Unrestrlcted Unrestricted
funds
funds
2023
2022
Donations and gifts
22,597
21,023
10-

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
other trading activities
Unrestrlctsd Unrestricted
funds
funds
2023
2022
Fundraising evenls
880
8,140
Other Income
Unrestricted Unrestrfctod
funds
funds
2023
2022
Bank Interest receivable
Gift Aid receivable
43
5,133
3.224
3.224
5,176
Ralslng funds
Unrestrlcted Unrestricted
funds
funds
2023
2022
Fundraisin
and ublicil
Other fundraising costs
1,000
6,092
1,000
6,092
11

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
Charitable activities
2023
2022
Bank Charges
Computer Running Costs
Sundry Expenses
Accountancy
168
123
13
900
152
204
13
900
1,204
1,269
Grant funding of a¢livities (see note 7)
16,700
12,000
17,904
13,269
Grants payable
Bursa
Tants lo individuals
Bursary grants are available to every pupil al Belfast Boy's Model School. While the Board has ultimate
responsibility for both Ihe raising of funds and the awarding of Bursaries, the criteria for those Bursaries are
drawn up by the school senior management and then considered by and approved by the Board and are
awarded based on criteria drawn up by the Board of Direclors of the charity. Three boys are awarded a
bursary of £3,600 ea¢h over three years with further one-off awards made annually at the Board's dlscrelion.
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits frorn Ihe
charity during the year.
Employees
The average monthly number of employees during the yearwas..
2023
Number
2022
Number
Total
There were no employees whose annual remuneration was more Ihan £60.000.
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or seclion
252 of the Taxationof Chargeable Gains Act 1992 lo the extent thal these are applied lo its charitable objecls.
12-

BELFAST BOYS MODEL BURSARY FUND (IN MEMORY OF EW DAVIS)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
11 Debtors
2023
2022
Amounts falllng due wlthin one year:
other deblors
3,219
5,130
12 Credltors: amounts falling due wlthln onè year
2023
2022
other creditors
Accruals and deferred income
10,800
1,023
9,000
900
11,823
9,900
13 Related party transactlons
There were no disclosable related party transactions during the year (2022 - none).
13-