THE ROYAL ULSTER CONSTABULARY GC
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Statement of Financial Position for the year ended 31S1 December 2022
Notes
2022
2021
FIXED ASSETS
Tangible Assets
Investments
4.136.514
3,610,894
4.137.516
3,875,207
7,747,408
8,012,723
CURRENT ASSETS
Debtors
Loans less Provision
Deposit with Slockbrokers
Cash at Bank..
Cash at bank and on hand
Deposit A¢¢ounts
220,491
1.700
53.671
199.884
3.884
5.674
499.939
490.833
629.453
618.876
1.266,634
1.457.771
CURRENT LIABILITIES
Creditors: amounts falling due within one year
(212.702
(178.680)
NET CURRENT ASSETS
1.053.932
1.279.091
NET ASSETS
8.801.340
9.291.814
FUNDS OF THE CHARITY:
Unrestricted Funds
General Funds
Revaluation reserve
8,522.673
10,932
9,008,518
10,932
Total Unrestricted Funds
8.533.605
9.019.450
Restricled Funds
267.735
272.364
8.801.340
9.291.814
The financial statements have been prepared in accordance with the special provisions applicable to companies subject to
the small Companies regime.
Approved by the Board of Trustees on 14th June 2023
and signed on its behalf by
L. Kelly- Chairnian
E. mcco￿111-TreaSUrer
Page 12

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Statement of Financial Activities (incorporating Income & Expenditure Account)
For the year ended 3151 December 2022
Notes
Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Tax Recovered: Gift Aid
Grants & Awards
Interest Received
Investment Income
11
1,033,485
168,083
78,008
1.757
144,103
362
1,033,847
168,083
78,008
1,900
144,103
790,838
194,748
68,548
37,475
49,855
143
Total Incoming Resources
1,425,436
505
1,425,941
1,141,464
EXPENDITURE ON:
Charitable Activities
Support & Governance Costs
12
13
1,192,098
288,921
1,192,098
289,005
1,010,310
304,907
Total Resources Expended
1.481.019
1.481,103
1,315,217
Net Incominglloutgoing) Resources
(55.583)
421
155,162
(173,7531
OTHER GAINSI{LOSSES>
Investments:
Net Realised Gains
Net Unrealised GainsllLossesl
232,212
74,150
(435,312)
(435,312
Net Movement in Funds for the year
Transfer from Restricted to Unrestricted
Total Funds 151 January 2022
(490.895)
5.050
9.019,450
421
{5.0501
272,364
{490.474
132.609
9.291,814
9,159,205
Total Funds 31¥t December 2022
8.533.605
267.735
8.801.340
9.291.814
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing aclivities.
Page 13

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Statement of Cash Flows
For the year ended 31S1 December 2022
2022
2021
Cash Flows from Operating Activities
Net incomel{deficitl for Ihe financial year
(55.162)
(173.753)
Adjustments for:
Depreciation of tangible assets
Interest Income
Inveslmenl Income
{IncreasellDe¢rease in debtors
Increase in creditors
1.002
(1.900)
{144.103)
(66,420)
34.022
1.113
(37.475)
(49.855)
14.388
16.959
{177.399)
(54.870)
Net Cash used in Operating Activities
1232,561)
(228,623)
Cash Flows from Investing Activities
Purchase of tsngible fixed assets
Proceeds from sale of investments
Purchases of investments
Investment income
Interest received
(180,000)
4,088,768
13,846.8761
49,855
37,475
1170.999)
144.103
1,900
Net Cash from Investing Activities
(24.996)
149,222
Net Increase in Cash and Cash Equivalents
{257.557)
(79.401)
Cash and Cash Equivalents at the beginning of year
1,248.329
1,327,730
Cash and Cash Equivalent at the end of year
990,772
1,248,329
The charitsble company does not have any financing activities and therefore a net debt reconciliation is not applicable.
Page 14

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
ACCOUNTING POLICIES
Basis of p￿paratIOn
The financial statements of the charitable company. which is a public benefit entity and a company
limited by guarantee. have been prepared in accordance with the Companies Act 2006" the Charities Act
(Northem Ireland) 2008. 2013 & 2022. the Charities (Accounts and Reports) Regulations {Northern Ireland)
2015 and Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)
(effective 15 December 20211 "Charities SORP (FRS 102>" The financial statements have been prepared
under Ihe historical cost convention. as modified by the revaluation of certain assets.
Tangible fixed assets
Land & Property held for the Charity's use is included in the Financial Statements at market value. No
depreciation has been charged. as it is the truslees. policy to maintain the building in a conlinual stste of
sound ￿paIr. The trustees consider that the lrfe of this asset is so long and its residual value so high that
ils depreciation is insignificant
Depreciation has been ￿lculated at rates required to write off the relevant assets over the anticipatsd
useful lives. The applicable annual rate used are:
Apartment Fixtures and Fittings 11YA reducing balance
Investment Assets
Inveslment assets fomi part of the unrestricted funds. All income arising from these investments is
credited as unrestricted fund incoming resources.
Investment assets are measured at fair value at the Statement of Financial Position date, with changes in
being recognised in income and expenditure. Gains or losses on disposal of investment assets are
calculated as arising from the latest ststement of Financial Position valuation and are credited or charged
as realised gains or losses to unrestricted funds.
Debtors
Other debtors are stated after all known bad debts have been written off and specific provision has been
made against all debts considered doubtful of collection. Prepayments are valued at the amount prepaid
net of any trade discounts due.
Cash and cash equivalents
Cash at bank and cash equivalents include cash and short tenn 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.
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised at
their settlement amount after allowing for any trnde discounts due.
Financial Instruments
The Charitable Company onty has financial assets and financial liabilitie5 of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value and
subsequentty valued at their settlement value with the exception of loans which are subsequently
measured at amortised cost using the effective interest method.
Incoming resources
All incoming resources are included in the Statement of FinancTal Activities when the charity is legally
entitled to the income and the amount can be quantified with reasonable accuracy.
Page 15

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
ACCOUNTING POLICIES (continued)
Incoming resources (continued)
Donations and legacies
Donations are assumed to be unrestricted in Iheir application unless other*vise prescribed.
Legacies are included within income when received.
Grants
Revenue grants are credited to incoming resoU￿e$ on the earfier date of when they are received or when
they a￿ receivable. unless they relate to a specified future period, in which case they are deferred.
Inveslment income
Inveslment income is recognised on an accruals basis.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount Can be measured reliably
by the charity. this is normally upon notificalion of the interest paid or payable by the Bank.
Resources expended
All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all
costs related to the category. Charitable activities expenditure Comprises those costs incurred by the
charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be
allocated directly to such aclivities and those costs of an indirect nature necessary lo support them.
Governance costs include these costs associated with meeting the constitutional. statutory and strategic
requirements of the charity.
1.10
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds Can only be used for particular restricted purposes within the objects of the charity.
Restriclions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notss to the financial
statements.
Grants and Loans
Grants and Loans are awarded at the management Committee's discretion and are Considered at regular
committee meetings. Emergency grants are approved by the Chief Executive.
1.12
Employee Benefits
The costs of ShOrt-te￿ employee benefits are recognised as a liability and an expense, unless those
costs are required to be recognised as part of non-current assets.
LEGAL STATUS OF THE CHARITY
The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound
up the liability in respect of the guarantee is limited to £1 per member of the Charity.
Page 16

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
TANGIBLE ASSETS
Land and
Properties
Apartment Fixtures
and Fittings
Total
Market Value:
1st January 2022
Additions
Revaluation
4,127,500
134,274
4,261,T14
31ST December 2022
4,127,500
134,274
4,261,774
Accumulated Depreciation:
1st January 2022
Charge for Year
124.258
1,002
124.258
1,002
31st December 2022
125,260
125,260
Market ValuelNet Book Value:
31st December 2022
4,127.500
9,014
4,136.514
31st December 2021
4.127.500
10.016
4.137.516
Some properties are held on a lease of 8,500 year5 from 1st May 1991.
Land and Properties are included in the financial statements at market value.
The properties were last revalued independenlly by Professional valuers as at 31 December 2019.
FIXED ASSET INVESTMENTS
2022
Market
Value
2021
Cost Market
Value
Cost
Listed Investments
3,972,055
3,610,894
3,801,056 3,875,207
Movements on investments in the year were-
2022
2021
Markel Value 1¥t January 2022
Additions
Disposals
Profits on Disposals
Net IncreasellDecrease) in Value
3.875.207
170.999
3.810.737
3,846.876
(4,088.7681
232.212
74.150
1435.312
Markel Value 31" December 2022
3.610.894
3.875.207
Inveslments in individual funds held at 31st December 2022 vthich are material in the context of investment
activities-
SUTL Cazenove Charity Responsible Multi Asset Fund Accumulated (13.1°h)
SUTL Cazenove Charity Responsible Multi Asset Fund Distribution (37.7°A)
COIF Charities Ethical Investment Fund Income Units (49.Ykn)
Page 17

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
DEBTORS
2022
2021
Prepayments and accrued income
Other Debtors
52,690
167,801
5.514
194,370
220,491
199,884
CREDITORS
2022
2021
Accruals and prepaid income
Other Creditors
212,644
58
178,622
58
212,702
178,680
TAXATION
The Benevolent Fund is registered with HM Revenue & Customs and is exempt from tsx on income and gains to
the extent that these are applied to its charitable objects.
UNRESTRICTED FUNDS
Revaluation
Reserve
General
funds
Total Funds
Balance 1st January 2021
Net outgoing resource5 for the year
Net Realised gains
Net Unrealisable gains
10,932
8,873.348
1171,192)
232,212
74,150
8,884,280
1171,1921
232,212
74.150
Balance 31st December 2021
10,932
9,008.518
9,019.450
Balance 1st January 2022
Net outgoing resources for the year
Net Realised gains
Net Unrealisable gains
Property revaluations
Transfer from Restricted Funds
10,932
9,008,518
(55,583)
9,019,450
(55,583)
(435.312)
(435.3121
5,050
5,050
Balance 31st December 2022
10,932
8,522,673
8,533,605
Included in unrestricted funds is £138,826 {2021: £122,238) in respect of total funds received less outgoings to
date in relation to the Rowland Betty Memorial Trust. During the year income of £16,588 (2021: £17,274) was
received and outgoings totslled £Nil (2021: £Nil).
Page 18

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
la Charitable Company Limited by Guarantee)
Not&s to the Financial Statèmants
For the year ended 31, December 2022
RESTRICTED FUNDS
Death Benefit Fund
The Fund is held to make discretionary payments for benevolent purposes to the families of a serving officer who
has died as a result of an Act of Terrorism.
2022
2021
Balance 1* January 2022
Income- Bank Deposit Interest
118,013
143
118,001
12
Balance 31st December 2022
118,156
118,013
Rowland Betty Charitable Foundation
This Foundation vms established in May 1985 following a donation from Squadron Leader T. V. Betty with annual
income received to be applied for the charitable purposes of the Benevolent Fund. Following the death of his wife
Zena Betty in January 2012 further income is now being received in respect of the Rowland Betty Memorial Trust.
which is included in unrestricted funds. The Conditions of the bequest of the Trust {that a plaque is displayed at
Headquarters of the Police Service of Northern Ireland. and the grave in Fernianagh be maintained) are being
adhered to.
In 2022. the Board of Trustees approved the transfer of £5.050 to unrestricted reserves with the express
perniission of the Charities Commission of Northem Ireland.
2022
2021
Balance at 1* January 2022
Transfer to unrestricted reserves
5.050
{5.050
5.050
Balance 31st December 2022
5.050
George Walter Fawcett Fund
The Fund was established November 2016 to be used specifically and exclusively for the treatment and personal
care of persons disabled. wounded or blinded prior to 31st December 1994.
2022
2021
Balance 1" January 2022
Legacy income
Grants and expenses paid
149.301
362
(84
151.874
{2.573)
Balance 31" December 2022
149.579
149.301
Total Accumulated Restricted Funds
267.735
272.364
Page 19

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
10
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
TOTAL
Tangible Fixed Assets
Investments
Current Assets
Current Liabilities
4,136,514
3,610,894
998,899
(212,7021
4,136,514
3,610,894
1,266,634
(212,7021
267,735
TOTAL
8.533.605
267.735
8.801.340
DONATIONS AND LEGACIES
2022
2021
Unrestricted Funds:
Donations from Members
Donations from Retired Members
Public & Organisational Donations
Legacies
574.728
149,009
119.913
189.835
585,446
142,363
61.029
2.000
1,033,485
790,838
Restricted Funds:
Legacies
362
Page 20

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
12.
CHARITABLE ACTIVITIES
2022
2021
Unrestricted Funds:
Awards & Grants:
ststion Welfare Groups
Police Care UK
Serving Members
Former Members
WidovrJ
Dependents
Early Widows Grants
Rowland Betty Memorial Trust
Funeral Grants
Local Voluntary Working Group Grants:
General
Christmas Grants
Fuel Grants
Police Treatment Centres
Holiday Expenses and Trips:
Widows
LVWGS
Events & Functions
Donations & Gifts
Staff Costs
Apartments Maintenance
Depreciation - Fixtures and Equipment
Provision for doubtful loans
1.117
27,605
19,820
35.912
29.129
6,905
18.760
1.463
28.062
11,594
15.844
16.552
18,733
21.440
9.618
20.958
12.762
6.472
55.900
517.813
14.616
24.284
41.700
504.783
27.739
118,340
124.422
9.748
21.053
150.398
1.002
{2.417
24.888
77.566
33.348
18.468
18.512
113.881
1.113
1.192.098
1.007.805
Restricled Funds:
Grants- George Walter Fawcett Fund
2.505
All grants were paid to or in respect of individual beneficiaries.
13.
SUPPORT & GOVERNANCE COSTS
2022
2021
Unrestricted Funds:
Advertising
Audit Fees
Bank Charges and Interest
Broker Fees
Compuler Costs
General Expenses
Insurance
Printing, Postage, Stationery and Telephone
Professional Fees
Staff Costs
Travel and Meetings
3.000
11.300
4,649
4,263
3.669
1,807
6,127
12,303
29,953
201,893
9,957
2.500
11.000
4,090
29,171
5.129
9,982
11,914
40.710
171,816
12,083
288,921
304,839
Restricted Funds:
Bank Charges and Interest
68
Page 21

THE ROYAL ULSTER CONSTABULARY GC-
POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charilable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31S1 December 2022
14.
STAFF COSTS
2022
2021
Wages and salaries
222.946
190.328
The number of full and part-time employees:
One employee vrns paid bemten £60.000 and £70.000 during the year.
15.
AUDITOR'S REMUNERATION
2022
2021
Fees payable for the audit of the financial statements
Tax advisory services
Professional fees (for other services
11,300
5,400
16,513
11.000
5.724
23,294
16.
TRUSTEES'S REMUNERATION AND BENEFITS
There vftre no trustees, remuneration or other benefits paid directty during the years ended 31st December 2021
or 2022. Travel expenses of £28912021: £91) were reimbursed to trustees during the year.
17.
FINANCIAL INSTRUMENTS
Financial Instruments measured at amortised cost comprise the loans made by the Charitable Company to
beneficiaries. Loans are made interest free. The market risk facing the Charitable Company is that the demands
placed on the Charity increase as interest rates rise in the wider economy.
Page 22