THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Statement of Financial Position for the year ended 31[st] December 2023
| _______________ | _______________ | _______________ | _______________ |
|---|---|---|---|
| Notes | **2023 ** |
2022 | |
| £ |
£ | ||
| FIXED ASSETS | |||
| Tangible Assets | 3 | 5,128,573 | 4,136,514 |
| Investments | 4 | 3,750,550 | 3,610,894 |
| --------------- | --------------- | ||
| 8,879,123 | 7,747,408 | ||
| --------------- | --------------- | ||
| CURRENT ASSETS | |||
| Debtors | 5 | 191,936 | 220,491 |
| Loans less Provision | 32,640 | 1,700 | |
| Deposit with Stockbrokers | 1,031 | 53,671 | |
| Cash at Bank: | |||
| Cash at bank and on hand | 552,744 | 499,939 | |
| Deposit Accounts | 492,478 | 490,833 | |
| ------------- | ------------- | ||
| 1,270,829 | 1,266,634 | ||
| CURRENT LIABILITIES | |||
| Creditors: amounts falling due within one year | 6 | (242,301) | (212,702) |
| ------------- | ------------- | ||
| NET CURRENT ASSETS | 1,028,528 | 1,053,932 | |
| ----------- | ---------- | ||
| NET ASSETS | 9,907,651 | 8,801,340 | |
| --------------- | --------------- | ||
| FUNDS OF THE CHARITY: | |||
| Unrestricted Funds | |||
| General Funds | 8,658,087 | 8,522,673 | |
| Revaluation reserve | 980,432 | 10,932 | |
| ----------- | ----------- | ||
| Total Unrestricted Funds | 8 | 9,638,519 | 8,533,605 |
| Restricted Funds | 9 | 269,132 | 267,735 |
| -------------- | --------------- | ||
| 9,907,651 | 8,801,340 | ||
| -------------- | --------------- |
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 24[th] June 2024 and signed on its behalf by
............... E. McCormill Treasurer
L. Kelly Chairman
Page 12
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Statement of Financial Activities (incorporating Income & Expenditure Account) For the year ended 31[st] December 2023
____________________
| Notes | Notes | Unrestricted | Restricted | Total |
Total |
|---|---|---|---|---|---|
| Funds | Funds |
2023 | 2022 | ||
| £ |
£ | £ |
£ | ||
| INCOME AND ENDOWMENTS FROM: | |||||
| Donations and legacies | 11 | 881,175 | 881,175 | 1,033,847 | |
| Tax Recovered: Gift Aid | 172,337 | 172,337 | 168,083 | ||
| Grants & Awards | 139,176 | 139,176 | 78,008 | ||
| Contribution to TPDP Caseworker Costs | 11,957 | 11,957 | - | ||
| Interest Received | 3,238 | 1,481 | 4,719 | 1,900 | |
| Investment Income | 228,136 | 228,136 | 144,103 | ||
| ------------- | --------- | ------------- | ------------- | ||
| Total Incoming Resources | 1,436,019 | 1,481 | 1,437,500 | 1,425,941 | |
| ------------- | --------- | ------------- | ------------- | ||
| EXPENDITURE ON: | |||||
| Charitable Activities | 12 | 1,139,359 | - | 1,139,359 | 1,192,098 |
| Support & Governance Costs | 13 | 330,673 | 84 | 330,757 | 289,005 |
| ------------- | --------- | ------------- | ------------- | ||
| Total Resources Expended | 1,470,032 | 84 | 1,470,116 | 1,481,103 | |
| ------------- | --------- | ------------- | ------------- | ||
| Net (Outgoing)/Incoming Resources | (34,013) | 1,397 | (32,616) | (55,162) | |
| ------------- | --------- | ------------- | ------------- | ||
| OTHER GAINS/(LOSSES) | |||||
| Investments: | |||||
| Net Realised (Losses) | 4 | (5,651) | - | (5,651) | - |
| Net Unrealised Gains/(Losses) | 4 | 175,078 | - | 175,078 | (435,312) |
| Property Revaluations | 3 | 969,500 | - | 969,500 | - |
| ------------- | --------- | ------------- | ------------- | ||
| Net Movement in Funds for the year | 1,104,914 | 1,397 | 1,106,311 | (490,474) | |
| Total Funds 1st January 2023 | 8,533,605 | 267,735 | 8,801,340 | 9,291,814 | |
| --------------- | ------------ | --------------- | -------------- | ||
| Total Funds 31st December 2023 | 9,638,519 | 269,132 | 9,907,651 | 8,801,340 | |
| --------------- | ------------ | --------------- | -------------- |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page 13
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Statement of Cash Flows For the year ended 31[st] December 2023
| 2023 | 2022 | |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Net (deficit) for the financial year | (32,616) | (55,162) |
| Adjustments for: | ||
| Depreciation of tangible assets | 6,766 | 1,002 |
| Interest Income | (4,719) | (1,900) |
| Investment Income | (228,136) | (144,103) |
| Decrease/(Increase) in debtors | 50,255 | (66,420) |
| Increase in creditors | 29,599 | 34,022 |
| ----------- | ----------- | |
| (146,235) | (177,399) | |
| ----------- | ----------- | |
| Net Cash used in Operating Activities | (178,851) | (232,561) |
| Cash Flows from Investing Activities | ||
| Purchase of tangible fixed assets | (29,325) | - |
| Proceeds from sale of investments | 103,775 | - |
| Purchases of investments | (74,004) | (170,999) |
| Investment income | 228,136 | 144,103 |
| Interest received | 4,719 | 1,900 |
| ----------- | ----------- | |
| Net Cash from Investing Activities | 233,301 | (24,996) |
| ----------- | ----------- | |
| Net Increase / (Decrease) in Cash and Cash Equivalents | 54,450 | (257,557) |
| Cash and Cash Equivalents at the beginning of year | 990,772 | 1,248,329 |
| ------------ | ------------ | |
| Cash and Cash Equivalent at the end of year | 1,045,222 | 990,772 |
| ------------- | ------------ |
The charitable 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 Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
1. ACCOUNTING POLICIES 1.1 Basis of preparation
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 (Northern 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 15 December 2021) Charities SORP (FRS 102) . The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
-
1.2 Tangible fixed assets Land & Property held for the included in the Financial Statements at market value. No depreciation has been charged, as it is the trustees' policy to maintain the buildings in a continual state of sound repair. The trustees consider that the life of these assets is so long and their residual value so high that depreciation is insignificant.
-
Computer equipment is initially measured at cost. After initial recognition fixed assets are measured at cost less any accumulated depreciation and impairment.
-
Depreciation has been calculated at rates required to write off the relevant assets over the anticipated useful lives. The applicable annual rate used are:
- Apartment Fixtures and Fittings 10% reducing balance Computer Equipment 5 years straight line
1.3 Investment Assets Investment assets form 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 Statement of Financial Position valuation and are credited or charged as realised gains or losses to unrestricted funds.
- 1.4 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.
1.5 Cash and cash equivalents Cash at bank and cash equivalents include 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.
1.6 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 normally recognised at their settlement amount after allowing for any trade discounts due.
- 1.7 Financial Instruments
The Charitable 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 valued at their settlement value with the exception of loans which are subsequently measured at amortised cost using the effective interest method.
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 15
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
____________________
1. ACCOUNTING POLICIES (continued)
1.8 Incoming resources All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Donations and legacies
Donations are assumed to be unrestricted in their application unless otherwise prescribed. Legacies are included within income when received.
Grants
Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
Investment income
Investment 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 notification of the interest paid or payable by the Bank.
-
1.9 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 activities and those costs of an indirect nature necessary to 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.
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 activities and those costs of an indirect nature necessary to support them. Governance costs include these costs associated with meeting the constitutional, statutory and strategic requirements of the charity.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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 notes to the financial statements.
1.11 Grants and Loans
Grants and Loans are awarded at the management discretion and are considered at regular committee meetings. Emergency grants are approved by the Chief Executive.
1.12 Employee Benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of non-current assets.
2. 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 Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
__________________
3. TANGIBLE ASSETS
| Land and | Apartment Fixtures | Computer | Total | |
|---|---|---|---|---|
| Properties | And Fittings | Equipment | ||
| £ | £ | £ | £ | |
| Market Value: | ||||
| 1st January 2023 | 4,127,500 | 134,274 | - | 4,261,774 |
| Additions | - | - | 29,325 | 29,325 |
| Revaluation | 969,500 | - | - | 969,500 |
| --------------- | --------------- | --------------- | --------------- | |
| 31st December 2023 | 5,097,000 | 134,274 | 29,325 | 5,260,599 |
| --------------- | --------------- | --------------- | --------------- | |
| Accumulated Depreciation: | ||||
| 1st January 2023 | - | 125,260 | - | 125,260 |
| Charge for Year | - | 901 | 5,865 | 6,766 |
| --------------- | --------------- | --------------- | --------------- | |
| 31st December 2023 | - | 126,161 | 5,865 | 132,026 |
| --------------- | --------------- | --------------- | --------------- | |
| Market Value/Net Book Value: | ||||
| 31st December 2023 | 5,097,000 | 8,113 | 23,460 | 5,128,573 |
| --------------- | --------------- | --------------- | --------------- | |
| 31st December 2022 | 4,127,500 | 9,014 | - | 4,136,514 |
| --------------- | --------------- | --------------- | --------------- |
Some properties are held on a lease of 8,500 years from 1[st] May 1991. The properties were last revalued independently by professional valuers as at 31 December 2019. Land and Properties are included in the financial statements at market value, the directors have assessed the fair value of the properties and are of the opinion that the value of some properties had materially changed by 31st December 2023, thus a revaluation adjustment has been included in 2023.
4. FIXED ASSET INVESTMENTS
| 4. FIXED ASSET INVESTMENTS |
||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Cost | Market | Cost | Market | |
| Value | Value | |||
| £ | £ | £ | £ | |
| Listed Investments | 3,936,633 | 3,750,550 | **3,972,055 ** | 3,610,894 |
| ------------- | ------------- | **------------- ** | ------------- | |
| Movements on investments in the year were: | ||||
| **2023 ** | 2022 | |||
| **£ ** | £ | |||
| Market Value 1st January 2023 | 3,610,894 | 3,875,207 | ||
| Additions | 74,004 | 170,999 | ||
| Disposals | (103,775) | - | ||
| Loss on Disposals | (5,651) | - |
||
| Net Increase/(Decrease) in Value | 175,078 | (435,312) | ||
| ------------- | ------------- | |||
| Market Value 31st December 2023 | 3,750,550 | 3,610,894 |
------------- -------------
Investments in individual funds held at 31st December 2023 which are material in the context of investment activities:
SUTL Cazenove Charity Responsible Multi Asset Fund Accumulated (13.1%) SUTL Cazenove Charity Responsible Multi Asset Fund Distribution (36.2%) COIF Charities Ethical Investment Fund Income Units (50.7%)
Page 17
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
____________________
| 5. | DEBTORS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Prepayments and accrued income | 19,135 | 52,690 | |
| Other Debtors | 172,801 | 167,801 | |
| ----------- | ----------- | ||
| 191,936 | 220,491 | ||
| ----------- | ---------- | ||
| 6. | CREDITORS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and prepaid income | 242,243 | 212,644 | |
| Other Creditors | 58 | 58 | |
| ----------- | ----------- | ||
| 242,301 | 212,702 | ||
| ----------- | ---------- |
7. TAXATION
The Benevolent Fund is registered with HM Revenue & Customs and is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
8. UNRESTRICTED FUNDS
| UNRESTRICTED FUNDS | |||
|---|---|---|---|
| Revaluation | General | Total Funds | |
| Reserve | funds | ||
| £ | £ | £ | |
| Balance 1st January 2022 | 10,932 | 9,008,518 | 9,019,450 |
| Net outgoing resources for the year | - | (55,583) | (55,583) |
| Net Realised gains | - | - | - |
| Net Unrealisable losses | - | (435,312) | (435,312) |
| Transfer from Restricted Funds | - | 5,050 | 5,050 |
| ---------------- | ---------------- | ---------------- | |
| Balance 31st December 2022 | 10,932 | 8,522,673 | 8,533,605 |
| -------------- | -------------- | -------------- | |
| Balance 1st January 2023 | 10,932 | 8,522,673 | 8,533,605 |
| Net outgoing resources for the year | - | (34,013) | (34,013) |
| Net Realised gains/(losses) | - | (5,651) | (5,651) |
| Net Unrealisable gains | - | 175,078 | 175,078 |
| Property revaluations | 969,500 | - | 969,500 |
| ---------------- | ---------------- | ---------------- | |
| Balance 31st December 2023 | 980,432 | 8,658,087 | 9,638,519 |
| ---------------- | ---------------- | --------------- |
Included in unrestricted funds is £186,565 (2022: £143,876) in respect of total funds received less outgoings to date in relation to the Rowland Betty Memorial Trust. During the year income of £42,689 (2022: £16,588) was received and outgoings totalled £Nil (2022: £Nil).
Page 18
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
____________________
9.1 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.
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Balance | 1st January 2023 | 118,156 | 118,013 |
| Income | Bank Deposit Interest | 1,481 | 143 |
| ----------- | ----------- | ||
| Balance | 31st December 2023 | 119,637 | 118,156 |
| ----------- | ----------- |
9.2 Rowland Betty Charitable Foundation
This Foundation was 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 Fermanagh be maintained) are being adhered to.
In 2022, the Board of Trustees approved the transfer of £5,050 to unrestricted reserves with the express permission of the Charities Commission of Northern Ireland.
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Balance | at 1st January 2023 | - | 5,050 |
| Transfer | to unrestricted reserves | - | (5,050) |
| --------- | ---------- | ||
| Balance | 31st December 2023 | - | - |
| ---------- | ---------- |
9.3 George Walter Fawcett Fund
The Fund was established in November 2016 to be used specifically and exclusively for the treatment and personal care of persons disabled, wounded or blinded prior to 31[st] December 1994.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Balance 1st January 2023 | 149,579 | 149,301 |
| Legacy income | - | 362 |
| Grants and expenses paid | (84) | (84) |
| ----------- | ----------- | |
| Balance 31st December 2023 | 149,495 | 149,579 |
| ----------- | ----------- | |
| Total Accumulated Restricted Funds | 269,132 | 267,735 |
| ----------- | ----------- |
Page 19
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND
(a Charitable Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31[st] December 2023
____________________
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | TOTAL | ||
|---|---|---|---|---|
| £ | £ |
£ |
||
| Tangible Fixed Assets | 5,128,573 | - | 5,128,573 | |
| Investments | 3,750,550 | - | 3,750,550 | |
| Current Assets | 1,001,697 | 269,132 | 1,270,829 | |
| Current Liabilities | (242,301) | - | (242,301) | |
| --------------- | ------------- | --------------- | ||
| TOTAL | 9,638,519 | 269,132 | 9,907,651 | |
| ---------------- | ------------- | -------------- | ||
| 11. | DONATIONS AND LEGACIES | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Unrestricted Funds: | ||||
| Donations from Members | 551,612 | 574,728 | ||
| Donations from Retired Members | 169,573 | 149,009 | ||
| Public & Organisational Donations | 99,990 | 119,913 | ||
| Legacies | 60,000 | 189,835 | ||
| ------------- | -------------- | |||
| 881,175 | 1,033,485 | |||
| -------------- | -------------- | |||
| Restricted Funds: | ||||
| Legacies | - | 362 |
Page 20
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
____________________
| 12. | CHARITABLE ACTIVITIES | ||
|---|---|---|---|
| 2023 | 2022 |
||
| £ | £ |
||
| Unrestricted Funds: | |||
| Awards & Grants: | |||
| Station Welfare Groups | - | 1,117 | |
| Police Care UK | 26,531 | 27,605 | |
| Serving Members | 13,583 | 19,820 | |
| Former Members | 5,333 | 35,912 | |
| Widows | 14,334 | 29,129 | |
| Dependents | 10,095 | 6,905 | |
| Early Widows Grants | 18,760 | 18,760 | |
| Rowland Betty Memorial Trust | - | - | |
| Funeral Grants | 7,480 | 9,618 | |
| Local Voluntary Working Group Grants: | |||
| General | 2,668 | 12,762 | |
| Christmas Grants | 15,131 | 6,472 | |
| Fuel Grants | 20,450 | 55,900 | |
| Police Treatment Centres | 497,052 | 517,813 | |
| Holiday Expenses and Trips: | |||
| Widows | 30,518 | 27,739 | |
| LVWGs | 141,819 | 118,340 | |
| Events & Functions | 113,182 | 124,422 | |
| Donations & Gifts | 9,798 | 9,748 | |
| Staff Costs | 18,610 | 21,053 | |
| TPDP Caseworker Costs | 11,957 | - | |
| Apartments Maintenance | 175,292 | 150,398 | |
| Depreciation Fixtures and Equipment |
901 | 1,002 | |
| Depreciation Computer Equipment |
5,865 | - | |
| Provision for doubtful loans | - | (2,417) | |
| ------------- | -------------- | ||
| 1,139,359 | 1,192,098 | ||
| -------------- | -------------- | ||
| Restricted Funds: | |||
| Grants George Walter Fawcett Fund |
**- ** | - | |
| ----------- | ------------ | ||
| All grants were paid to or in respect of individual beneficiaries. | |||
| 13. | SUPPORT & GOVERNANCE COSTS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Unrestricted Funds: | |||
| Advertising | 2,970 | 3,000 | |
| Audit Fees | 11,865 | 11,300 | |
| Bank Charges and Interest | 4,335 | 4,649 | |
| Broker Fees | 3,261 | 4,263 | |
| Computer Costs | 12,420 | 3,669 | |
| General Expenses | 6,323 | 1,807 | |
| Insurance | 6,204 | 6,127 | |
| Printing, Postage, Stationery and Telephone | 10,025 | 12,303 | |
| Professional Fees | 32,884 | 29,953 | |
| Staff Costs | 229,068 | 201,893 | |
| Travel and Meetings | 11,318 | 9,957 | |
| ----------- | ---------- | ||
| 330,673 | 288,921 | ||
| ----------- | ---------- | ||
| Restricted Funds: | |||
| Bank Charges and Interest | 84 | 84 | |
| ----------- | ---------- |
Page 21
THE ROYAL ULSTER CONSTABULARY GC POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND (a Charitable Company Limited by Guarantee)
Notes to the Financial Statements For the year ended 31[st] December 2023
____________________
| 14. | STAFF COSTS | STAFF COSTS | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ |
£ | ||||
| Wages and salaries | 259,635 | 222,946 | |||
| ----------- | ---------- | ||||
| The number of full and part-time employees: | 7 | 6 | |||
| No employees were paid emoluments of more than £60,000 during the year. | |||||
| 15. | MUNERATION | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees | payable for | the audit of the financial statements | 11,865 | 11,300 | |
| Tax advisory services | 5,400 | 5,400 | |||
| Professional fees (for other services) | 16,136 | 16,513 | |||
| ---------- | ---------- |
16. REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits paid directly during the years ended 31st December 2022 or 2023. Travel expenses of £Nil (2022: £289) were reimbursed to trustees during the year.
Page 22