The Mar aret Finle Trust Statement of Financial Activities for the Year Ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 40,000 70,000 EXPENDITURE ON Charitable activitles Connecting minds Gifts 21,855 7,656 43,600 1,065 Other 372 500 Total 29,883 45,165 NET INCOME 10,117 24,835 RECONCILIATION OF FUNDS Total f unds brought forward 20,914 13,9211 TOTAL FUNDS CARRIED FORWARD 31,031 20,914 The notes form part of these financial statement5 Page 4 The Mar aret Finle Trust Balance Sheet 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes CURRENT ASSETS Cash at bank 41,554 31,065 CREDITORS Amounts falling due within one year 18361 {8601 NET CURRENT ASSETS 40,718 30,205 TOTAL ASSETS LESS CURRENT LIABILITIES 40,718 30,205 CREDITORS Amounts falling due after more than one year 19,6871 19,2911 NET ASSETS 31,031 20,914 FUNDS Unrestricted f unds 31,031 20,914 TOTAL FUNDS 31,031 20,914 The charitable company 15 entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act 2006 relating to financial statements, so far as applicable to the charitable company. Ibl The notes form part of these financial statements Page 5 continued... The Mar aret Finle Trust Balance Sheet - continued 31 December 2023 These financial statements have been prepared in accordance with the provision5 applicable to charitable companies subject to the Small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 11 September 2024 and were signed on its behalf by: l Bailey Trustee E Bailey- Trustee The notes form part of these financial statements Page 6 The Mar 3ret Finle Trust Notes to the Financial Statements for the Year Ended 310ecember 2023 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFR5 1021 leffective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the f unds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis conslstent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from corporation tax on its charitable activities. 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. Restrictions arise when specified by the donor or when fund5 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. NET INCOMEIIEXPENDITURE} Net income/lexpenditurel is stated after charging/lcreditingl'. 2023 2022 Auditors, remuneration 372 500 Page 7 continued... The Mar aret Finle Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustee5' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 70,000 EXPENDITURE ON Charitable activities Connecting minds Gifts 43,600 1,065 Other 500 Total 45,165 NET INCOME 24,835 RECONCILIATION OF FUNDS Total funds brought forward 13,9211 TOTAL FUNDS CARRIED FORWARD 20,914 Page 8 continued... The Mar aret Finle Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Accrued expense5 426 410 860 836 860 CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 Other loans (see note 71 9,687 9,291 LOANS An analysis of the maturity of loans is given below: 2023 2022 Amounts falling due between two and five years.. Other loans - 2-5 years 9,687 9,291 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 20,914 10,117 31,031 TOTAL FUNDS 20,914 10,117 31,031 Net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 40,000 129,8831 10,117 TOTAL FUNDS 40,000 129,8831 10,117 Page 9 continued... The Mar aret Finle Trust Notes to the Financial Statements continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 13,9211 24,835 20,914 TOTAL FUNDS 13,9211 24,835 20,914 Comparative net movement in funds, included in the above are a5 follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 70,000 145.1651 24,835 TOTAL FUNDS 70,000 145,1651 24,835 A current year 12 months and prior year 12 month5 combined p051tion is as follow5.. Net movement in f unds At 31.12.23 At 1.1.22 Unrestricted funds General fund 13,9211 34,952 31,031 TOTAL FUNDS 13,9211 34,952 31,031 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted fund5 General fund iio,ooo 175,0481 34,952 TOTAL FUNDS iio,000 175,0481 34,952 Page 10 continued... The Mar aret Finle Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 RELATED PARTY DISCLOSURES A trustee of the company donated 100% of the income in the year. Page 11 The Mar aret Finle Trust Detailed Statement of Financial Activities for the Year Ended 310ecember 2023 2023 2022 INCOME AND ENDOWMENTS Donation5 and legacles Donations 40,000 70,000 Total incoming resources 40,000 70,000 EXPENDITURE Charitable activities Sundries Grants to individuals 1,065 43,600 29,511 29,511 44,665 Support costs Governance costs Auditors, rernuneration 372 500 Total resources expended 29,883 45,165 Net income 10,117 24,835 This page does not form part of the statutory financial statement5 Page 12