IM irwinmitchell
ANC
EME
(Ref.. 05332121-11

THE MCBNJN FAMILY F
RE
TERED CHARITY N
NDATI
-117
Contents to Financi
I Statemen
Annual Report of the TrusleÈ8
Independent Examiners Report
Balance Sheet
Statement of Cash flows
Slalemenl of Finanoal Actiwibe5
7-11
Note8 to Fin8ncial SlalÈmÈn18
12
SchedLle of Investments

TRUSTEES, REPORT
Page 1
Forthe year ended 31 January 2022
Full namo of Charity . The McBain Family Foundation
Nature of governing document . Charitable Trust Deed dated 15 December 2017
Registration Number:
1178329
Trusteos:
Alastair David McBain
Nalalia McBain
Oliver J8mes McBain
Sophie McBain
Registered Address:
40 Holborn Viaduct, Holborn, London, EC1 N 2PZ
Principal Banker .
Arbuthnot Latham Private Bankers, Arbuthnot House, 7 Wilson Street, London,
EC2M 2SN
Solicitors
Irwin Mitchell LLP, Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex,
P019 1UF
Independent Examiner .
Claire Notwood, Jones Avens, Piper House, 4 Dukes Court, Bognor Road,
Chichester, West Sussex, P019 8FX
Investment Managers .
Tilney Investment Management se￿ices Limited, The Observatory,
Western Road, Bracknell, Berkshire, RG12 1TL
Operatlng Restrlctlons:
To provide relief from poverty or the promotion of education anywhere in the worfd
or for or towards such other charitable purposes as the Trustees shall select from
time to time.
Speclflc Investment powers: In accordance with the Trustee Investment Act 1961 as amended by the Charities
(Trustee Investment Act 19611 Order 1995.
Constitution and objects
The objects of the Trust include the relief of poverty or the promotion of education anywhere in the world or for or
towards such other charitable purposes as the Trustees shall select from time to time as detailed in the Charitable
Trust Deed dated 15 De￿mber 2017. The Trustees have paid due regard lo guidance issued by the Charity
Commission in deciding what activities the Trust should undertake.
Oryanisation
The Trustees who served during the period and since the period end are sel out on page 1. The slatulory power of
appointment applies in connection with the appointment of Trustees and is exercisable by the continuing and retiring
Trustees.
Grant making policy and activities
During the period the Trustees made donations in accordance with their objects lotslling £1,420,07512021..£47,7911
Achievements and pgrfomiance
During the period the Trust has remained in cash whilst the trustees decide on the longer term plans for the assets.
Financial Review and investment policy
During the year incoming resources lolalled £539,701 12021.. £812,918), resources expended lotalled £1,424,484
12021.. £53,090) and there were realised gains of £32,829.5912021.' nill. As a resultthe fund balan￿ Ca￿led forward
at 31 January 2022 was £271,42912021.. £1, 156,2111
The investment advisors (Tilney Investment Management Services Lldl are instructed to invest in cash until longer
term plans have been made.
The incoming resources consist of donations and bank deposit interest.

Pag• 2
Reserves pollcy
Is the policy ol the charhy to malntsln unrostricted funds. whlt* are the free resewves of Ihe charity- There are
sJJfficientfundsto cover mawwem8llt and administration costs and to r¢5purd to emeryenCYap￿￿esL43n5fOrgrants
which arise from time to time. Unrestricted furds were maintsined at Ihis levol throughovt Ihe yeaf.
Ri•k mwagem•nt
Thetrusteès have eXaM￿edlhe major stratsglB, tAasinessand operational risk8whSChthecharftyla￿and rx)nffimi
that system6 have been eslablished to enable regsJl8r repNis to be produced so that the necessary steps can be
taken to lessen thes* risks.
TN8teets re6pon$lbllltl•s
Le9i51atlon requires the trustee5 to pr8pare finencial 8tatem6nts foreach linanclal yearwhlch show a true
and [￿rvieW of the stale of affairs of the Charity and of the income and expendthlre of th8 tharityfcr that
parfod. In preparir#J thLXS• financial 6tatèmonts, the Trust6eS 8ra rgqulrad to:
select suitable 8ccounUThJ Pol￿eS and th8n appty them consistantfy..
makejtKlgments and ests"mates that are reasonable and prudenL
state vjhelher appllcable accourtlng standards and statèments crf recommended practice have
been folk)wed, subjeci to any departures dlsclosed and explained in Ihe financial statements",
ond
prepare the flnancial ststements on the goiw concem basis unless it is inapprDpriate to
prosume that the Chaity will ¢ontinue to OPgT8te.
Th& Trustees ar6 r6sponsible for keeping proper accounting records whlch dlsclos• vlth reasonable
accuracy atanytime the financial positson of the Charityand to ensure Ihatthe financial statementscomp
wAh the Cha￿tieS Act 2011. They are 81so responsible fur spfe9uarding th8 assets of Ihe Charity and
hence fortskiTrJ reasonablo slepsfor the prevention and detection
Irau
and other trregularffje5.
A D McBain
N McBaln
S Mc8ain
30￿o¥8￿ber2022.... .....................

Page 3
THE MCBAIN FAMILY FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE MCBAIN FAMILY FOUNDATION
I report to the trustees on my examination of the financial statements of The McBain Family Foundation (the
charity) for the year ended 31 January 2022.
Responsibilities and basis of report
As the trustees of the chaiity you ale responsible for the preparation of the financial 5t8tements in 8ccoid8nce
with the requirernents of the Charities Act 2011 Ithe 2011 Act).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515llbl ol the 2011 Acl.
Independent examiner's ststement
I have completed tny examination. l (x)nfirm that no Tn8tter5 have wme lo my attention in connedion wlh
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charrty as required by section 130 of the 2011 Act,. or
the finanaal statements do not accord with those records., or
the financial statements do not comply with the applicable requirements concerning the form and
content of account5 set out in the Ch8rities (Accounts and Reports) Regulation5 2008 other th8n any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination.
I have no ¢oncEMs 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 understanding of the finanaal statements
to be leached.
Since the charity's gross intome exceeded £250,000 your examiner must be a member of a body listed in section
145 of the 2011 Act. I confirm that l 8m qualified to undertake the examination because l member of the
ICAEW, which is one of the listed bodies.
Claire Nomood Bsc FCA ATII
Jones Avens Limited
Piper House
4 Dukes CoLJrt
Bognor Road
Chichester
West Sussex
P0198FX
Dated..
3011112022
GA: 6672023 1

Pw4
C4th•it4nk
946.759Af2
212.ri))A)
308.8￿.10
4,#92
IM50.10
3.04B.rKJ
Z 1.156.211.
riiicuYr•rt
d ktll.122
)1,858.10
£ 1.15I211.02
-.￿.￿?￿j ¥bJi*d onlhotr bphvjfby
c￿verj•m8B Pl￿n
TnotO•
5rghh McBth
TrA notes rffj page8&10Tofrn

Pag8 S
THE AICBAJN FAMILY F
NDATI
31
nu
22
Total
Not ush used In operatlng a¢tl¥ltlo8
12
(674.050.501
631.258.00
Cash flows from investing a¢iivitio8:
Interest and dividends
Purchase of investments
Proceeds fmm 8alÈ of investments
Gift repayment
Net cash provided by investing activities
1.311.99
538.389.001
571,218.59
417.61
34.141.58
417.61
Chanyo in cash and Catsh ￿u1Valents in tho year
(639,908.921
631,675.61
Cash broughl fotwHrd14t bank and on portfdiol
Cash Carrièd fts￿ard
946.759.02
306.850.10
315.083.41
946.759.02

Pagp 6
THE MCBAJN FAMILY FOUNDATI
men
fFin
anua
2022
Year ended
1.1.22
Y8ar8ndod
31.1.21
INC
ME
EXPENtXT
Don8lions 8nd Legaue8
Gro$$ investment intome
RE
538.389.00
1.311.99
812,500.00
417.61
Total Income
539.700.99
812.917.61
Ro8ourc8s exp8nd8d
CharitatAe Activit￿S
1.426.883.50
52.090.00
Totsl Re$our¢es Expended
1.426.883.50
52.090.00
Net ILosstsllGains on Invetsimènts
Realise(J Gain on sale of in¥eslmenls
32.829.59
Net income for the yearlNet mov?ment in fvnds
1854,352.921
760.827.61
Fund ba18nce brought forward
1,156,211.02
395,383.41
Fund balance Garried forward 31.1.22
301.858.10
1,156.211.02
None of Ihe Charity's actNibe5 were 8cquired or discontinued during thi5 fiscal Year.
The Charity has no recognised gain8 or losses other than Ih08e dealt with In th&
Statetnent of Financial ActivilFes.
The notes on pages &10 form p8rt of these accounts.

Page 7
THE MCBAIN FAMILY FOUNATION
REGISTERED CHARITY NO. 1178329
Notes to the Accounts for the
eriod ended 31 Janua 2022
1 ACCOUNTING POUCIES
The McBain Family Foundation is an unincorporated charity, registered with the Charity Commission number
1178329. The registered address is 40 Holborn Viaduct, Holborn, London, EC1 N 2PZ
ACCOUNTING CONVENTION
The financial statements have been prepared in accordan￿ with Charities Act 2011 and"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 IFRS 1021 las amended for
accounting periods commencing from 1 January 20191. The charity is a Public Benefi't Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity.
The accounts have been prepared on the historical cost convention modified forthe ￿valUation of investments. The
principal accounting policies adopted are set out below.
GOING CONCERN
Al the lime of approving the accounts, the Iruslees have reasonable expectstion that the charity has adequate
resources to continue in operational existen￿ for the foreseeable future. Thus the Iruslees, continue to adopt the
going concern basis of accounting in preparation of the accounts.
CHARITABLE FUNDS & FUND ACCOUNTING
Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of their charitable objectives
unless the funds have been designated for other purposes.
Ineoming Resources
Incoming resources includes investment income, which is recognised when the charity has a legal right to the
income.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and
the carrying value of the asset, and is recognised in net incomellexpenditurel for the year.
GA.. 6719009 1

Page 8
1A
GRANTS PAYABLE
Grants payable are debited lo expenditure within the Statement of Financial Activities during the peri(￿ in which the
Trust enters into a conslruclive obligation to make such payments, recognising a liability where payments are lo be
made In future periods.
INVESTMENTS AND INVESTMENT INCOME
All investments are slated at fair value and the movement shown comprise5 both realised and unrealised gains and
losses.
Realised gains or losses arising on the disposal of investments (together with provisions for diminution in value), are
credited or debited to the Statement of Financial Activities, and subsequently transferred lo Unrestricted Funds.
CHARITABLE ACTIVITIES
The cost of charitable activities consists of grants made.
COST OF GENERATING FUNDS
The cost of generating funds consists of investment management fees.
GOVERNANCE COSTS
Governance costs comprise all costs involving the public accountability of the charity and ils compliance with
regulation and good practice. These costs include costs related lo statutory audit and legal fees logetherwilh other
overhead and support costs.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include deposits held al call with banks.
1.10 FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and section 12 "Other
Financial Instruments Issues" of FRS 102 to all of its financial inslrumenls.
Financial assets and liabilities are offset, with the net amounts presented in the financial ststements, when there is a
legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or lo
realise the asset and sellle the liability simultaneously.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured al transaction
price including transaction costs and are subsequenuy carried al amortised cost using the effective interest method
unless the arrangement conslitules a financing Iransaclion, where the transaction is measured at the present value
of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year
are not amortised.
Impairment of financial assots
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of
impairment al each reporting dale. Financial assets are impaired where there is objective evidence that, as a result
one or more events that occurred after the initial recognition of the financial asset, the eslimaled future cash flows
have been affected.
GA.. 6719009 1

Page 9
If an asset is Impaired, the impairmenl10ss Is the differen￿ between the carrying amount and the present value of
the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised
in nel incomellexpenditurel for the year.
If there is a decrease in the impairment loss arising from an eventoccurring afterthe impairmenlwas recognised, the
impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying
amount would have been, had the impairment previousty bèen recognised. The impairment reversal is recognised in
nel incomellexpenditurel for the year.
Baslc flnanclal Ilabllltles
Basic financial liabilities, including trade and other payables, are initially recognised al transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the
future receipts discounted al a market rate of interest. Debt instruments are subsequendycarried al amortised cost,
using the effective interest rate method.
Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Accounts payable are classed as current Iiabililies if payment is due within one year or
less. If not, they are presented as non-currenl liabilities. Trade payables are recognised inib'alty attransaction price
and subsequendy measured al amortised cost using the effective interest method.
Dereeognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire orare discharged or cancelled.
2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the charity's accounting policies, the Iruslees are required to makejudgemenls, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
eslimales and associated assumptions are based on historical experience and other factors that are considered to
be relevant. Actual results may differ from these eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised In the period in which the estimate is revised where the revision affects only that period, or In the
period of the revision affects only that period, or in the period of the revision and future periods where the revision
affects both current and future periods.
GA.. 6719009 1

311111

PagB 11
22
& CRENTORS.. AMOUIITS FALUNG DUE ONE YEAR
Asat
Asat
31.121
AccwEd Expenses
Mitchell LLP- Leo&l& Profes￿M£lleè>
Independent Lxaminersfees
2.400.
2,592.
4,992.
1.800.00
1.248.00
3.048.00
CHAPJTABLE ACTMllES
Yearended
Yearended
31.121
1.420,075.00
47.791.00
Share ofGovem£nce Costs Inth 111
6,808.50
1.426,883.50
4.299.00
52.090.00
10. GRANTS PAYABLE
Y•ar•nd#d
Y•arènd•d
un￿￿[SAY r*Oxford D8V8IDpm8nt
Chatham House
edied Rese8rth FoUnd￿lOn
Rtsy￿ Opera H¢us*
Tw&sEI TIu$i
The ChrfdrensTrust
27.791.00
10.000.00
2.000.00
3.000.00
5.000.00
8,500.00
10.000.00
1,391.575.00
2.ODO.00
lo.00￿00
1.420,07S.00
Thp Dicky Buckle Fund
Rtysl Insbtuie Qflniernation￿A
47.791.00
11. GOVERNANCECOSTS
Y•ar•nd¥d
Y•ar•nd•d
31.121
Irmn Miichall LLP- L8gal& Prof8s￿Onalf￿@S
Tlney Financisl Ltd
Independent Exèminersfees
Bank ¢har9eS
Gaid&y PLC
2,400.00
3.000.00
1.344.00
t￿50
1,800.00
1.296.QD
3.00
1,200.00
4,299.00
6,808.50
12. RECONCIL￿7X)N OF NETMOVEMEKtSIN FUNDS TO NET CASH FLIM FROM OPERAIINGAeMVlnES
Yearondgd
31.122
18S4,352.921
Yearènded
31.121
760,827.61
Nglrnovement Infunds
Dgduct dividgnd and Intsr8* iDwn• shown ID InvesliDg a¢tivities
Ltrs$ÈsllGFAnsI Dn disp05d of i[We￿￿e￿$
Add ba¢klos3esldedud19aiD$lon InvestmgntS
IlncreaselldeciEa8e in debtois
ID¢rea5e (de¢￿a$8) CTedrtors
212.50￿00
1,944.00
(674,050.50
(125.000.001
631,258.00
13. AIiALYSIS OFCHANGESIN NET FUNDS
Th•¢harty had nv debldunng Ih•year
14 TRUSTEES, REMUNERAIION AND BENEFITS
Ther•We￿ nolrustee$' r&mun*ration orthher ben•fii$ forlhe year•nd8d 31 January 202212021.. nll
Twsteesexpen5ES
ThÈrtwere notru*ees' expenses Paid forthe yearended 31 January 202212021". nll
1& EMPLOYEES
Therewere noemFknyeesduring the yeÈrl2021."nll.
16. REL4TED PARTYTRANSACMONS
There sre nodisdosstle rdated patytranssthns12O21." niD.