THE MACKAY AND BREWER CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Charity Number 1072666

THE MACKAY AND BREWER CHARITABLE TRUST
CONTENTS PAGE
Pages
Reference and Administration Details
Report of the Trustee
Independent Examiner's Report
Receipts and Payments Account
Statement of Assets and Liabilities
Appendix 1

THE MACKAY AND BREWER CHARITABLE TRUST
REFERENCE AND ADMINISTRATION DETAILS
Corporate Trustee
HSBC Trust Company (UK) Limited
Current Directors of Corporate Trustee
J Coyle
P M Spencer
J Hewitson
Trust Manager
J Wiles
Principal Office
Forum 1
The Forum Parkway
Whileley
Fareham
Hampshire
P015 7PA
Independent Examiner
Frances Millar ACA
RSM UK Tax and Accounting Limited
Chartered Accountants
Highfield Court
Tollgate
Chandlers Ford
Eastleigh
Hampshire
S053 3TY
Bankers
HSBC Bank plc
Forum 1
The Forum Parkway
Whiteley
Faieham
Hampshire
PO15 7PA
Investment Managers
HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ

THE MACKAY AND BREWER CHARITABLE TRUST
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 5 APRIL 2022
The Trustee presents its report together with the financial statements of the eharily for the year ended
5 April 2022. which have been prepared on a receip15 and payments basis. The financial slalements
have been prepared in accordance with the charity's constitution and applicable law.
The purchase and sale of investments results from the day to day management of the investment
portfolio by the investment managers. In accordance with the Charities Act, the financial statements
have been prepared on the receipts and payments b2515 given that the definition of gross income
excludes the receipt of any endowment, loans and proceeds from the sale of investments or fixed
assets.
Structure. government and management
The Maekay and Brewer Charitable Trust is an unincorporated trust and is constituted under the wtll
dated S May 1992 of the late Dr Gordon Cameron Mackay and Pfobate granted on 27 August 1998.
The trust is a registered charity Ino. 10726661.
The Corporate Trustee has appointed a designated Trust Manager lo look after the Charity. The
Investment Managei reviews the performance and provides recommendations on the stru¢ture of the
investment portfolios.
The power lo appoint additional Trustees is vested in the current Trustee. and is exercisable in writing.
Should new Trustees be appointed. the existing Trustee would lake responsibility for their induction.
The Truste8 has examined the major strategic, business and operational risks which the charity faces
and confirms that systems have been established lo enable regular reports lo be produced so that
Ihe necess3ry steps can be taken lo lessen these risks. The main risk in the year was considered lo
be the variability of investment returns.
Objectives and activities
The objectives of the charity are lo pay or to apply the income and capital Df the trust in perpetuity for
each charitable objective or purpose as the Trustee thinks fit. in accordance with the governing
document.
The charity awards grants to charitable institutions. The Trustee reviews application5 for grants when
received and awards grants al its discretion.
Achievements and performance
DLJring the year 8 grants 101211ing £30,574 12021.. 8 grants lotalling £68,748) were awarded lo
charitable institutions under the terms of the will. No grants were awarded to individuals in either
period. The beneficiaries are disclosed in Appendix 1 of the financial st31ements.
Financial review
The charity received fund5 under the terms of the will of the late Dr Mackay, to be held in perpetuity.
These funds generated income, which is used for the purpos& of grant making. in accordance with
the objectives sel out above. The fund generated income of £56.421 {2021". £58.4641 in the year to
fund its charitable aclivilies. The expenditure on charitable activities was £60.98312021". £89.3741. of
which £30.574 12021.. £68,748) was charitable expenditure in the form of grants to charitable
institutions.

THE MACKAY AND BREWER CHARITABLE TRUST
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED 5 APRIL 2022
Investment policy
In accordance with the governing documellt. the Trustee has the power lo invest in SLtch stocks.
shares, investments and property as is seen fit. The Trustee engaged HSBC UK Bank plc as
Investment Manager. The policy 15 to adopt a low to medium risk investment strategy to protect. in
absolute terms, the capital value of the fund whilst producing a sustainable and growing level of
income. and also providing the potential for longer terrn growth of capital in real terms.
Reserves policy
The unrestricted funds, which are the free reserves of the charity. and which are represented by the
income arising are paid over to beneficiaries throughout the year. 11 is not the policy of the charity lo
maintain specific reserves.
The expendable endowment funds represent those assets which are held permanently by the charity
and are principally investments. Income arising on the endowment hJr)d can be used in accordance
with the objectives of the charity and is included as unrestricted income. Any capital gains or losse5
arising on the investments form part of the fund. The Truslee has the power to eonvert this fund into
income.
Public benefit
The Trustee has referred to the guidance contained in the Charity Commission's general guidance on
public benefit when reviewing aims and objectives and in planning future activities. In particular, the
Trustee considers how planned activities will conlnbute to the aims and objectives set.
Plans for the f uture
The Trustee intends to continue providing grants in a similar way to the re￿nt past whilst relaining
flexibilify as lo the timing and scale of grant making.
Related parties
The Corporate Trustee and the Investment Manager are both wholly owned subsidiaries of HSBC
Holdings plc.
In addition lo the fees shown on page 6, as a result of the acquisition and disposal of inveslmenls.
the charity pays transaction charges lo HSBC Bank plc. The charges are calculated Dn a sliding scale
at a percentage of the transactions value plus VAT and are added to or deducted from the cost of the
investments or the disposal proceeds in accordance with UK standard accounting practice.

THE MACKAY AND BREWER CHARITABLE TRUST
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED 5 APRIL 2022
Statement of Trustee's responslblllties in relation to the financial statements
The law applicable lo charities in England and Wales requires the Trustee lo prepare financial
statements for each financial year which give a true and fair view of the charity's financial activities
during the year and of rt's financial position at the end of the year. In preparing those financial
statements, giving a true and fair view, the Trustee should follow best Practice and..
select suitable accounting policies and then apply them consistently.,
make judgements and estimates that are re2s0nable and prudent..
state whether applicable accounting standards and statements of recommended practice have
been followed. subject to any departures disclosed and explained in the financial slalemenls,
and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable
accuracy the financial position of the charity. This enables them to ascertain the financial position of
the charity and enables them to ensure the financial statement5 comply with the Charities Act 2011,
the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The Trustee is responsible for safeguarding the assets of the chanty and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
Approved by the Tfuslee and signed on it5 behalf by..
HSB
st Company IUKI Limited
Date..

THE MACKAY AND BREWER CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEE OF THE MACKAY AND BREWER CHARITABLE TRUST
l Teport to the Trustee on my examination of the financial 51atemenls of The Mackay and Brewer
Charitable Trust for the year ended 5 April 2022. which are sel out on pages S to 7.
Responsibilities and basis of report
As the Trustee of the charity you are responsible for the preparation of the financial slalements in
accordance with the requirements of the Charsties Act 2011 I'the 2011 Acl'l.
I report in respect of my examination of the charity's financial statements carried out under section
145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions
given by the Charity Commission under section 145 (51{b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an
audit and consequently does not cover all the matters that an auditor considers in giving their opinion
on the financial statements. The planning and conduct of an audit goes beyond the limited assurance
that an independent examination can provide. Gonsequenlly, l express no opinion as to whether the
financial statements present a 'true 3nd fair view, and my report is limited to those specific matters set
out in the independent exarniner's 51alemenl.
Independent Examiner's statement
I have completed my examination. I confirm that no material matters have come lo my attention in
connection with the examination giving me reasonable cause to believe that in any material respect-.
accounting records were not kept in respett of the charity as required by section 130 of the
2011 Act, or
2. the financial slalemenls do not accord with those records., or
3. the finaiicial slalemenls do not comply with the applicable requiiemenls concerning the form
and content of financial slalemenls sel out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the financial statements give a 'lrue and fair view, which
is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper undeislanding of the financial
statements to be reached.
France5 Millar ACA
Chartered Accountant
The Institute of Chartered Accountants in England and Wales
On behalf of RSM UK Tax and Accounting Limited
Chartered Accountants
Highfield Court
Tollgate
Chandlers Ford
Eastleigh
Hampshire
S053 3TY
Dale..
26-Jan-2023

THE MACKAY ANO 8REWER CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2022
Unrestricted
funds
Endowment
funds
Totsl
2022
Total
2021
Receipts
Investment incorr
56,421
56,421
58,464
56,421
56.421
58,464
Investment sale proceeds
Proceeds from Sa￿ ol investments
3,951.870
3,951,870
2.498,327
Total receipts
56,421
3.951,870
4,008,291
2,556,791
Payments
Cost of generating funds
Investment service charge
13,630
13,630
22.516
Charitable activities
Grants paid
Other allocated costs
30.574
30.409
30,574
30,409
68,748
20,626
Governance costs
IrKlependent exaMi￿r'S fee
2.760
2,760
2,682
63,743
13,630
77.373
114.572
Investment purchases
Payments for purchase of investments
3.873,390
3,873,390
2.437,736
Total payments
63,743
3,887.020
3,950,763
2,552.308
Nel Ipaymenlsl I receipts
17.3221
64,850
57,528
4,483
Trartsfer of funds
18351
835
Cash invested al 6 April 2021
8,535
60,329
68,864
64,381
Cash invested al 5 Apnl 2022
378
126,014
126,392
68,864
These unaudited financial statements have been subjected lo independent examination. See report
on page S.

THE MACKAY AND BREWER CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES
AS AT 5 APRIL 2022
Unrestricted
funds
Endowment
funds
Total
2022
Total
2021
Investments
UK fixed interest securities
Overseas fixed interest securities
UK equities
Overseas equities
Alternative investments
Other trust assets
Cash
103,793
2.501,917
49,925
687,589
968.320
442,783
1,625,962
400,072
968,320
442,783
1,625,962
400,072
378
126,014
126,392
68,864
Totsl assets
378
3.563.152
3,563,530
3,412,089
Liabiltties
Professional fees payab
2.900
2,900
2,760
Approved by the Trustee and authorised for issue on
L.2) and signed on rts behalf by..
HSBC Trust Company IUKI Limited
These unaudited financial statements have been subjected to independent examination. See report
on page 5.

THE MACKAY AND BREWER CHARITABLE TRUST
APPENDIX 1
BREAKDOWN OF CHARITABLE GRANTS
Number of
Grants
Amount
Institutions
Macmillan Caring Locally
Marie Cwie Cancer Care
Open Doors
Open sight
People's Dispersary for Sick Animals
St Johns Ambulance for Waks
The National Ttusl for Scotland
The Salvation Army
3,822
3,822
3,822
3,822
3,822
3,822
3.821
3.821
30,574