The McBride Charitable Trust Annual Report and Accounts Registered charity number 1059117 30June 2024
CONTENTS Trust Inforrnation Annual Report Statement of Trustees, Responsibilities Statement of Financial Activities Statement of Assets and Liabilities Page 2
TRUST INFORMATION Charity Number: 1059117 Trustees.. Jane Cronin, Chairperson Alex Brown, Trustee Amy Barlow, Trustee Prlnclpal Address: c/0 McBride plc Middleton Wav Middleton Manchester M244DP Bankers: The Co-operative Bank l Balloon Street Manchester M44BE Independent Examiners: Chadwick & Company (Manchester) Limited Chartered Accountants Statutory Auditors Capital House 272 Manchester Road Droylsden Manchester M43 6PW Page 3
ANNUAL REPORT The Trustees present their annual report and financial statements for the year ended 30 June 2024. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply wlth the charit¢s governing document. the Charities Act 2022 and "Accounting and Reporting by Charltles: Statement of Recommended Practice applicable to charltles preparing their accounts in accordance with the Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland (FR5 1021 (effective l Jan 2019)". The McBride Charltable Trust Is constituted by Deed of Trust and Is registered charlty, number 1059117. Its address Is Middleton Way. Middleton. Manchester, M24 4DP. The Trust was established by Declaration of Trust on 5 July 1995 and a Deed of Varlation on 16 October 1996. The objectives of the charity are: to provide donatlons to charitable bodies as detemlned by the Trustees and to provide grants for the advancement of educatlon and learnin8 of resldents of particular areas in the United Klngdom and Europe. Includin& but not exclusively, person5 or dependants who a or who have been employees of McBride plc and any of its subsidlary undertakln8S. The trust has contlnued in its aim to dlsburse grants and donations to Indlvlduals and other charities or causes In accordance with the Deed of Trust. Speclflcally. the scheme to support the sons and daughter5 of McBride employees in full tlme educatlon beyond 18 years has continued. Thls scheme has alternated over 8 nltmber of yea15 between support in the UK and support In Continental Europe {CEI. To assist the Trust and ensure the cost of transactSons are not passed on to Indlvidual Erant re¢lplents, the 5ponsorlng Company, McBrlde plc, assists wlth the transfer of funds from the Charitable Trust In the UK to reclpients in Contlnental Europe. In 2023-24 8rants were awarded as follows; Across 8elgium, France, Italy, Spain and Luxembourg there were 45 awards of É215 each maklng a total payment of £9,675. In Poland there were 9 awards of PLN 1,000 each makn'ng a total payment of PLN 9,000. In Denmark there were 6 awards of DKK 1,600 each making a total payment of DKK 9,600, In the UK there were 7 awards of £185 each making up a total payment of £1,295, The total of the 2023124 grants is shown in the accounts as £12.411 In the reportlng year there were nil donations made to charities12023: nil). The Deed of Trust prohlblts a Trustee from acqulrln8 any interest In property belon8ln8 to the Charity, recelvlng remuneratlon and being interested In any contract entered into by the Trustees. They are also specifically required to either sell or let any land belon8lng to the Charity whlch is not requlred to be retained or occupled in furtheran of the objects. Upon grantin8 of any lease the Trustees shall ensure that the tenant executes a counterpart lease. In addition, every lease shall contain a covenant on the part of the tenant for the payment of rent and a provision for re-entry on non-payment ofthe rent or non-performance of the covenants contained in the lease. There are no other restrictions or spedfic investment powers contained in the Deed of Trust, In accordance with the obligations contained the in the Charitles Act 1993 the Trustees are responsible for keeping accounting records for the Charity, the preparation of annual statements of account and preparation ofthe annual report. The annual report and 5t3tement ofaccount of the Charity have been transmitted to the CommSssloners. Page 4
ANNUAL REPORT (continued) Durlng the perlod 5 July 1995 to 30 June 1996 the Trustees purchased an option over 15,000 ordinary shares of McBride plcfor £15.000, financed by a bank loan. On exercise, the options were converted into 339,662 ordinary shares of McBride plc. These are still held at 30June 2024. There was E90,000 of CEO income received in the year from McBride plc. No dlvldend income was received in the reporting year12023: £nil). The Charity received a number of intangible benefits during the year. These included accountancy and administration services by employees of McBride plc. All services and advice were provided wlth no charge. The Trust and the Trustees would like to thank them for all their kind help and assIstan. On behalf of the Board of Trustees, Jane Cronln Chalrperson 10 December 2025 Page 5
STATEMENT OF TRUSTEES. RESPONSIBILITIES The Charities Act requires the Trustees to prepa attounts and statements for each financial year which give a true and falr vlew of the state of èffairs of the Charitable Trust at the end of the year and of the receipts and payments for that year. In preparing the account and statement. the Trustees are required to: select suitable accounting policies and then apply them conslstently: make judgements and estimates that are reasonable and prudent; State whether applicable accountin8 stsndards have been followed, subject to any materlal departures dlsclosed and explained in the financial statements: and prepa the flnancial statements on the going concern basls unless It Is Inapproprlate to assume that the Charitable Trust will not contlnue to function The Trustees are responsible for keeping proper accounting records which dlsclose wlth reasonable accuracy at any tlme the financial p051tion of the Charitable Trust and to enable them to ensure that the Statement and account comply with the Charlties Act. They have general re5pon5ibility for takin8 such Steps as are reasonably open to them to Safeguard the a55ets of the Charitable Trust and to prevent and detect fraud and other Irre8ularltles, No Trustees lor any persons connected with them) recelved any renumeration or expenses during the year. Page 6
THE MCBRIDE CHARITABLE TRUST Statement of Financial Activlties for the period ended 30 June 2024 Perlod ended 30 June 2024 Perlod ended 30 June 2023 GENERAL PURPOSES FUND INCOME CEO fundlng Total receipts 90,000 90,000 EXPENDITURE Direct Charltable Expenditure.. 2023 Educatlonal Grants- accrued 2024 Educatlonal Grants- accrued Donation5 (12,967) (12,411) Other Expendlture.. Independent examination fee National Insurance on grants adjustment prDryears Total payments 1720} 3,772 19,359) (12,967) Net Income / (expense) for the year before 8alns and losses on investments 80.641 {12,967) Net gains / (losses) on investments Net Income / (expense) for the year 380,421 37,363 461,062 24,396 Funds balance brought forward 73,100 48,704 Funds balance carrled forward 534,162 73,100 Page 7
THE Mc8RIDE CHARITABLE TRUST Statement of Assets and Liabllltles ot 30June 2024 30 June 2024 30 June 2023 GENERAL PURPOSES FUND MONETARY ASSETS Bank balance 128,718 38,718 NON-MONETARY ASSErs Llsted Investments at market value: 339,662 ordlnary shares in McBrlde plc @ 138.5p (prior year: 26.5pl (Cost £15,000) TOTAL ASSErs 470,432 599,150 90,011 128,729 LIABILITIES Accruals 164.9881 {55,6291 TOTAL LIABILITIES (64,9881 {55,6291 TOTAL NET ASSETS 534,162 73,100 Approved by the Trustees on 10 December 2025 Signed on Its behalf by.. Jane Cronln Chatrperson 10 Dember 2025 Page 8
NOTES TO THE ACCOUNTS 1.1 Accountlng conventlon The account5 have been prepared in accordance with FRS 102 Yhe Finantial Reporting Standard applicable in the UK and Ireland" I"FRS 102"}. and Accounting and Reportlng by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 20191. The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions In the SORP for charitles applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements have been prepared In sterlin& which Is the functional currency of the charity. Monetary amounts in these fin3nclal statements are rounded to the nearest £. The flnanclal statements are prepared under the historlcal cost convention. The prlnclpal accountlng pollcles adopted are set out below. 1.2 Golng concern At the tlmo of approving the financlal statements, the Trustees have a reasonable expectatlon that the Charlty has adequate resources to continue in operational existen for foreseeable future. Thus the Trustees continue to adopt the Boing concern basis of ac¢ountln8 in preparln8 the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the dlscretlon of the Trustees in furtherance of their charltable objectlves. 1.4 Incomlng resources Income is recognlsed when the Chèrlty is legally entltled to it after any performance condltions have been met, the amounts can be measured rellably, and it is probable that Income wlll be received. Cash donations are recognlsed on re¢elpt. Other donatlon5 are recoBnised On the Charlty has been notlfled of the donation, unless performance condltlons require deferral of the amount. Income tax recoverable Sn relation to donations recelved under GIftd or deeds of covenant Is reco8nlsed at the time of the donation. Legacles are reco8nlsed on recelpt or otherwlse If the Charity has been notified of an impendlng dlstribution. the amount is known, and receipt is expected. If the amount Is not known, the legacy is treated as a contln8ent asset 1.5 Expendlture Incurred Expenditure is accounted for on an attruals basis classlfled under headlngs that aggregate costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activltles on a basis conslstent with the use of resour$. 1.6 Flxed a55et Investments Fixed asset investments are initially measured at transactlon price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes In fair value are recognised In net Income/{expenditurel for the year. Transaction c05t5 are expensed as incurred. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposits held at call with banks, other short-term liquid investments wlth ori8inal maturltles or three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilitles. Page 9
THE MCBRIDE CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MCBRIDE CHARITABLE TRUST I report to the trustees on my examination of the financial statements of The McBrlde Charitable Trust (the trust) for th8 y&ar ended 30 June 2024. Responslbllltles and basls of report As th8 trustees of the trust you are responsible for the preparation of the financial statements in ardance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions glven by the Charily Commission under seclion 145{5){b) of the 2011 Act. Indepènd8nt 8xamlner's statemont I have completed my examination. I confirm that no matt8rs have come to my attention in connection with the 6xaminalion giving me cause to believe that in any material respect.. accounting records were not kept In respect of the trust as required by section 130 of the 2011 Act. or the financial statements do not accord with those records, or Iha financial statem8nts do not comply with the applicable requirements conc8mlng the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement Ihat the accounts give a Irue and fair view which is nol a matter considèred as part of an independent examination. I have no conc6ms and have come across no other matters in connection with th8 examinatlon to which attention should be drawn in this report in order to enablè 8 proper underslanding of the financial statements to b8 reached. Tracey Connor Bsc (Hons) FCA Chadwick & Company {Manchester} Limited Chartered Accountants Statutory Auditors Capital House 272 Manchester Road Droylsden M43 6PW Manchester 10-