IM irwinmitchell
E MCBAIN FAMILY FOUNDATI
AN
rthe
earended 31 Janua
2024
(Rtrf.. OS332121-11

THE MCBAIN FAMILY FOUNDATI
Annual Report of the TrLJsiees
Independent Examinevs Report
B8lance Sheet
siaiemfrni of Cash flows
Slalemenl of Financial Activities
Notes to Financial Slalemenls
12-17
Schedule of Invastmenls

TRUSTEES. REPORT
Page 1
For the year ended 31 January 2024
Full name of Charity . The Mc8ain Family Foundation
Nature of governing document . Charitable Trust Deed dated 15 December 2017
Registration Number:
1178329
Trustees:
Alastair David McBain
Natalia McBain
Oliver James McBain
Sophie McBain
Reglstered Address:
40 Holborn Viaduct, Holborn, London, EC1 N 2PZ
Prlnclpal Banker .
Arbulhnol 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 Auditor .
Claire Norwood, Carpenter Box, Piper House, 4 Dukes Court, Bognor Road,
Chichester, Wesl Sussex, P019 8FX
Invgstment Managers .
Allonby & Partners Limited, 10 Orange Street, London, WC2H 7Da
Operating Restrictions:
To provide relief from poverty or the promotion of education anywhere in the
wodd or for or towards such other charitsble purposes as the Trustees shall
select from time to time.
Specific investrnent 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 December 2017. The Trustees have paid due regard to 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 statutory 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 Iheirobjecls totalling £36,000 12023.'£474,2941
Achievements and performance
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 tolalled £137,941 12023.. £1,203,978), resources expended tolalled £45,434
12023. £481,064) and there were realised gains of £1,03612023.' £116,1431- As a result the fund balance carried
forward al 31 January 2023 was £1,299,79512023: £1, 140,9151
The investment advisors (Allonby & Palners Limited) are instructed to invest in cash until longer term plans have
been made.
The incoming resources consist of donations and bank deposit interest

Page 2
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity. There are
sufficient funds to cover management and administration costs and to resFiond to emergency applications for
grants which arise from lime to time. Unrestricted funds were maintained at this level throughoLJI the year.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and
confirm that systems have been established lo enable regular reports to be produced so that the necessary steps
can be taken lo lessen these risks.
Trustees responsibilities
Legislation requires the trustees lo prepare financial statements for each fi'nancial year which show a
true and fair view of the slate of affairs of the Charity and of the income and expenditure of the charity
for that period. In preparing those financial stalemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consistendy.,
make judgments and eslimales that are reasonable and prudent.,
stale whether applicable accounting standards and slalemenls of recommended practice have
been followed, subject to any departures disclosed and explained in the financial statements,.
and
prepare the financial statements on the going concern basis unless il is inappropriate lo
presume that the Charity will continue lo operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any time the financial position of the Charity and lo ensure that the financial statements
comply with the Charities Act 2011. They are also responsible for safeguarding the assets ofthe Charity
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
A D McBain
N McBain
O J McBain
S McBain
Dated.................................

Page 2
R•s•rv•s policy
11 is the policy of the charty to maintain unrestricted fund5. which are the free reseNes of the charity. There are
8ufficient funds lo covor rnanag8ment and administration costs and to r•spond to èmergency applications for
grants which arisè trom time tr) time. Unrestricted funds were maintained at this level Ihroughout the year.
RSsk manag•m•nt
The trustees have examined the major 51rategic, business and oper81ional risks which the charity face$ and
confirm that systems have been established to enable regular reports to be produced 9) that the necessary steps
can ￿ taken to lessen these risks.
Trust•os responsibililièB
Legislation requires the trustees to PTepare financial statements for each financial year which show a
true and lair view of the state Df affairs of the Charity and of the income and expendiknre rjf the chafty
for that period. In preparing those financial Statements. the Tru51ee5 are required lo..
select Suitab￿ accounting policies and then app￿ them consistently..
make judgments and esiimares that are reasonable and pruden[
state whether applicable accounling standards and statements of recommended practice have
een followed. subjed to any departures disclosed and explained in the financwl stslemenls,"
and
pr•pare the financial statements on the goirvJ concern basis unless it is inappropriate to
presume that Ihe Charity will continue to operate.
The Trustees are responsible for keeping proper 8ccountin9 recoTd8 which di3close with re&8onable
aceurary at any tlmè Ihè finaneial r#)sition of the Charty 8nd to ensufe that the financial statements
comply wth the Charities Act2011. They 8re also responsiblefrjr safeguardingthe assets olthe Charity
and hence for taking reasonable steps for the prevenb.on and deteth'on of fraud and olher irregularthes.
A D McBain
N Mc8ain
OJM
•in
S M¢B•in
16.1111>.

Pago 2
RgseNO$ polley
11 is the pOI￿Y of th¢ ¢h4rity to tnainlaift ynr¢striGted fund¥, ¥rfhiGh are Ihe fr¢¢ r¢seN¢s of the charity. There ar¢
sufficient funds to cover management and administration costs and to respond to emergency applicab.ons for
grants whieh arise from time to time. Unrestricted funds were maintained at this level throughout the year.
Rl8k managem6nt
The Iruslees have examined the major strategic, business and operatiortal risks which the char'ty faces and
GOI)finii that systenis liav¥ been vstablished to enable regulaf reports to be produG¢d SQ thal th¢ n¢Ge¥s¢ry ?t¢ps
can be tsken to lessen these risks.
Tru*t¢e5 r¢sponsibiliti¢s
Legistation requires the trustees to prepa￿ financial stalements for each finanual year which show a
true and fair view of the state of affairs of tho Charity and of the income and expenditure of the charity
for that period. In preparing th(Ise financial statements, the TTUStees are required to..
select suitable accounting policics and Ihcn apply thcm consislentiy..
make judgments and estimate5 that are reasonable and prudent".
state whether applicable ￿cOUntIng sl>ndgrdg 2nd gtatéments of recommendpd prarticp have
been followed, subject to any departures disc105ed and explained in the financial 3tstements.'
and
prepare the fir￿ncial statements on the goin9 concern basis unlgss It is inappropriate to
presume that the Charity will continue to operate.
Th8 Trustees are responsible for keeping proper accounting records which disclose with reasonable
aGcuraGy at any tim¢ th¢ financial position of the Charity and to ensure that the financial statements
compty with the Charib'esAct2011. They a￿ also ￿sponSible for safeguarding the assets of the Charity
and hence for taking reasonable steps ftsrthe prevention and detection of fraud and other irregularities.
A D McBain
N McBai
O J McBain
S MGBain
Dated.T£....d￿ q+

Pag¢ 3
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 staternents of the McBain Family Foundation (the charity)
for the year ended 31 January 2024.
R8sponsibiliti8s and ba515 of report
As the tIU5tees of the chaiity you are responsible for the preparation of the financial stateTnents in accordance
with the requirerllents of the Charities Act 2011 (the 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 statement
I have cotnpleted my examination. I confitrn that no rnatters have come to tny attention in wnnection with the
exarnination 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 accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any iequiiement
that the accounts give a true and fair view which is not a matter considered as part of an independent
examination.
I have no Con￿￿$ 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 reached.
Claire Nomood Bsc FCA ATII
Catpentei Box Limrted
Pipei House
4 Dukes Court
Bognor Road
Chichester
West Sussex
P0198FX
2711112024
Dated..
GA: 6672023 1

Paue4
Inva&trnBnts4t MarketV*J•
8tS,382.5S
Cash atbank
491,7e172
1.904,433.74
1.907,44&28
1.504,433.74
U•OIIWTaiMng lllFJT*nniii 1z mvmh
L￿rt0
7.&0.00
JGJ.516.PJ
£ 1,140.91&95
Fund Bal•￿•￿#131.1l4
Urwtn¢ted
£ l.bk,793.2a
£ 1.140,914.9
8tst@m&ntsvMe4ppro¥*d by Df￿￿tee$0n...
svJnÈdonth*rboh*ty
A*lr Davld %lcBaki
Tru¥tee
McBa
TluYtÉ
Olr481 Jan￿￿¢B￿n
so￿0
7.11 tsm pwtofthwo

RE615TERED¢HIArrY t*lll78329
CUrMhtknia4
015,35156
401.78172
1,5D4,453.74
1.)07 IdS.28
1.504,433.
7.350.C
E 1 255.79&2B
383 51e.79
£ 1140.914.95
Fuhd •131.1.24
t 129970&28
E 1 140 91&05
N•talaFAcBwn
OberJamp¥ ML￿1￿

Page4
E MCBNJN FAMILY FOUNDAMON
REGISTERED CHARITY NO.1178329
CurrgntAs8ets
InveS￿ents at Marftet Value
815,38158
Cash gt bank
491,76272
1.504,43174
Debtors
1.307,145.28
1.504,43174
Liabi1￿9￿￿111nU due ￿7th1￿ 12 month¥
Cr8ditoTS
Net Current Assets
7,350.00
1.209.795.28
363,51&79
Fund Bèlènce al gt 31.1.24
£ 1,299,795.28
The linantid Ètatement8Y￿È approved by the btsard of truStèe$ on.
.and $iyned On tharbèhdlby
astsir Dav￿ McBain
Trustee
Mat￿la McBain
TtuÈtee
(Xiver James McBain
Trustee
Sophie McB8in
Trnstee
The notes on wages 7-11 fomi partolthese axounl

PJgg 5
24
Totsl
Net cash used In operatlng actlyftle
Cash flowl from inv**ting attMtièS'.
InterestÈnd dividends
PurchBse ol Invesknents
Proceeds from sde ol Investments
Gift Aid repaymeni
Net cash provlded by Inve5Ung aCtI¥￿e&
7.940.95
18S2.382.031
103.372.87
1.292.568.93
1741.06&411
117.284.36
Change Sn cash and ¢ash equlvalents In the year
1.197.583.84
Cash broughlfoNrard lal bank and on port*diol
Cash ¢arr￿ forward
1.504.433.74
491.762.72
306.850.10
1 504.433.74

Page8
E MCBNJN FAMILY FOUNDAMON
REGISTERED CHARITY NO.1178329
Year ended
YeBrended
31.1.23
INC
ME
EXPENDIT
DonaDonsand Legacies
Gross Investment incorne
RE
130,000.00
7,940.9S
1.202,85&78
Totsl Incorno
137,940.95
1.203,977.92
Resources expended
ChÈntètAe Actiwtiej
4S,43182
481,06￿29
Total Resource5 Expended
45,433.82
481,064.29
Net ILossesllGaln9 on Investsnents
Realised Gain on sale of Investments
Unreaised Gain on revaluation ol Investments
1,036.09
11e,14&
Net income forthe yearlNetmovementln fvnds
158,a80.33
839,05&85
Fund bslance bnughtfothard
301.85&10
Fund balance carrfed forward 31.1.24
1,299,795.28
None of the Charitys activities ￿re aquired or diswnlinued dunng this fiscal Year.
The Ch81ity hBs no ￿e00n13ed ¢ainsor1099es otherthBn those de8h¥wth in the
ststernentol Financisl Actiwties.
The notes on wa98s7-11 fo￿ partofth&se a￿O￿nI&

Page 7
THE MCBAIN FAMILY FOUNATION
REGISTERED CHARITY NO. 1178329
Notes to the Accounts for the
eriod ended 31 Janua
2024
1 ACCOUNTING POLICIES
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.
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with Charities Act 2011 and 'Accounting and
Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. las
amended for accounting periods commencing from 1 January 20191- The charity 15 a Public Benefit Entity as
defined by FRS 102.
The accounts are prepared in sterling, which Is the functional currency of the charity.
The aecounls have been prepared on the historical cost convention modified for the revaluation of investments.
The principal accounting polieies adopted are sel out below.
1.2 GOING CONCERN
Al the lime of approving the accounts, the trustees have reasonable expectation that the charity has adequate
resources lo continue in operational existence for the foreseeable future. Thus the Iruslees, continue lo adopt the
going concern basis of accounting in preparation of the accounts.
CHARITABLE FUNDS & FUND ACCOUNTING
Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives
unless the funds have been designated for other purposes.
Incoming 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 be￿een the sale proceeds
and the carrying value of the asset, and is recognised in nel incomellexpendilure} for the year.
GA.. 6719009 1

Page 8
1.4 GRANTS PAYABLE
Grants payable are debited to expenditure within the Statement of Financial Activities during the period in which
the Trust enters into a constructive obligation to make such payments, recognising a liability where payments are
to be made in future periods.
INVESTMENTS AND INVESTMENT INCOME
All investments are slated at fair value and the movement shown comprises both realised and unrealised gains
and losses.
Realised gains or losses arising on the disposal of investments Ilogether with provisions for diminution in value),
are credited or debited to the Statement of Financial Aclivilies, 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
Govemance costs comprise all costs involving the public accountability of the charity and its compliance with
regulation and good practice. These costs include costs related to stslutory audit and legal fees together with
other overhead and SUPF)Ort costs.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include deposits held at 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 instruments.
Financial assets and liabilities are offset, with the net amounts presented in the fi'nancial stalemenls, when there
is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net basis or
to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction
price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement conslitules a financing transaction, where the transaction Is measured at the
present value of the future receipts discounted al a market rale of interest. Financial assets classified as
receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held al fair value through income and expenditure, are assessed for indicators
of impairment at each reporting date. 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 g
If an asset is impaired, the impaiment loss is the difference between the carrying amount and the present value
of the eslimaled cash flows discounted al the asset's original effective interest rate. The impairment loss is
recognised in nel incomellexpendilurel for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised,
the impairment is reversed. The reversal is such that the current carying amount does not exceed what the
carrying amount would have been, had the impairment previously been recognised. The impairment reversal is
recognised in nel incomellexpendilurel for the year.
Baslc flnanclal Ilabllltles
Basic financial liabilities, including trade and other payables, are initially recognised at transaction pri￿ unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value
of the future re￿ipts discounted al a market rale of interest. Debt instruments are subsequently carried at
amortised cost, using the effective interest rale method.
Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course of
operations trom suppliers. Accounts payable are classed as current liabilities if payment is due within one year
or less. If not, they are presented as noTrcurrenl liabilities. Trade payables are recognised initially al transaction
pri￿ and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilitie5 are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are eonsidered to be relevant. Actual results may differ from these estimates.
The estimates and undedying 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 per1(￿s.
GA.. 6719009 1

001¢
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eRENTOR$.. AIIOVNTS FALUNG WE￿THIN OME YEAR
31.1.24
Irwin Milchpll LLF- Lega 8 PfftgsioD￿fpP5
IW8n￿lEXarnlTrèTS fe85
s,4{￿￿00
1.99XOO
2 40Q(Y)
2.64Q
yfvEld C￿legE
3&9478.79
518.79
7,3￿00
CHAHTABLE ACTMnES
Yoar•rtdod
31.1.24
$6,rKxxoo
474.2>3.79
ShaieofG￿￿￿CecostS Inole 111
9.43x82
45.43182
6.77QS)
481 064.29
I￿GRANTs PAYABLE
Y•ar•ndad
31.1.24
Y•ar•nd•d
15.000.11)
70D.C
15.000.￿}
5.25tt1X)
1.50Q
Sb115buryHDSPlQg Chprtiy
Eyes ontheFuttJre
Opèra
6.t(xxoo
ansfiLld Cdlag8
The Fvrkle Fvnd
358.47&79
68.265.
10.000.IY)
cnalham
lo.c(￿00
i0,L￿.00
lo.￿).00
Peopleaffected byw4r
36.CW.00
4F4.293.F9
11.GOVERNANCECOSTS
YÈarknilÈd
31.1.24
Invin DAIlEhèll LLP- L£9al a ProfÈS&ltsn￿fÈ
5,40Q
11.5t￿o0}
2.57QC
2,4￿.00
3.iThY).00
1.2￿00
28.50
Ina8p8nd&nlEAamI￿s
BankchÈt9È5
Bard&ys- D15crdiLWry MBn8gemeTrtfee
Sigma
1.88&67
806.65
9.431B2
6.￿th5O
11 RECONCU4MONOF NEfkiovEPAENTSIN FUNDS TO NETCASH FLOWFROM OPERAnNGACTMnES
Y•ar•nthd
Y•ai•nd•d
31.1.24
NptmrywneDtiTrfvnd
1SB.88Q33
9.05&85
dividÈrHJÉnd InlÈr*irtomÈ shttw In InV￿ing￿lyrtl￿S
LDssÈsllGainsI￿ diswsa ot invÉsINnls
Add baL*losséSld8d￿I Igainsi Dn Inv8slmenls
Ilncreaselldecreage IndEblors
Incre83elthreasel IncreditQTS
I7,54￿95}
11.03&0>1
I￿6.16￿79}
1271 602.611
8.5￿79
1& ANALYSSOF CHANfjE51N NET FUNDS
ThÈ thaiil¥ ￿ no dèbidufinJthÉ yéar
TRU$TEES' REAIUNERATION AND 8ENEATS
There￿￿e rM)trusle88' r8rnunera￿￿ orithortsnefilsforth8 yearend8b31 Janwy202412023". nill
Tiuslpp5eKpenFe
There￿￿e rM)tru5188S'e￿￿s0Spa1d forthe Yoar8n￿ 31 January 2024{￿23 nil)
1& EMPLOYEES
Th&rèw*È thiing thè￿￿12023.￿1II.
1& RELATEO PARTYTRANSACMONS
Th¢repreno di9dg¥ptrlerd*pJ￿rt¥tr£ny￿CElo￿?IzQ2? nill.

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