IM irwinmitchell
(Ref.. 05332121-11

Fl
Annual Réport 01lhè Ttutsiees
I￿le￿ndent Examref5 Rewrt
841ance Sheet
S181em8nl of Cash110*8
ststtrmani of Flnanoal AcUvilW•
Notes lo Finaroal Slalement5
1>22
Schedule of Investments

TRUSTEES. REPORT
Page 1
For the year ended 31 January 2025
Full name of Charity . The McBain Family Foundabon
Nature of governing document . Chanlable Trust Deed dated 15 December 2017
Registration Number:
1178329
Trusteos:
aslair David McBain
Natalia McBain
Oliver James McBain
Sophie McBain
Registored Address:
Thomas Eggar House, Friary Lane. Chichester, West Sussex, P019 1 UF
Principal Banker:
Barclays Bank {Suissel SA. Chemin de Grange Canal 1 &20. PO Box 3941, 1211
Geneva 3, Switzerland.
Solicitors .
Irwin Mitchell LLP, Thomas Eggar House. Friary Lane, Chichester, Wesl Sussex,
P019 1UF
Independent Examlner:
Claire Norwwd, Carpenter Box, Piper House, 4 Dukes Court. Bognor Road,
Chichester. Wesl Sussex, P019 8FX
Investment Managern .
Allonby & Partners Limited. 10 Orange Street, London, WC2H 70Q
Operatlng Restrlctlons:
To provide relief from povety or the promotion of education anywhere in the
world or for or towards such other charitable purposes as the Trustees shall
select from tsme lo time.
Speclflc Investment powern: In accordance with the Trustee Investment Act 1961 as amended by the
Charities (Trustee Investment Act 1961) Order 1995.
Constitutlon and oblects
The objects ol the Trust indude the relief of povety or the promotion of education anywhere in the world or for or
towards such other charitsble purposes as the Trustees shall select from lime to lime 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.
Oryanlsatlon
The Trustees who served during the period and since the period end are set 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 maklng polley and actlvltles
During the period the Trustees made grants in accordance wrth their objects lotalling £235,667 12024'.£36,0001
Achlevements and performance
During the period the Trust has remained in cash whlst the trustees decide on the longer term plans forthe assets.
Flnanclal Revlew and Investment pollcy
During the year incoming resources lotalled £829,686.04 12024.. £137,941), resources expended tolalled
£249,882. 12024.. £45,434) and there were realised gains of £20,05112024.' £1.0361. As a result the fund balance
carried fotward al 31 January 2025 was £2,016,663 {2024'. £1,299,795)
The investment advisors IAllonby & Partners Limrted) are instructed to invest in with Barclays Bank Isuissel SA
The incoming resources consist of donations and investment income.

Pag8 2
Res•rves polley
It is the policy of the charty tr) maintsin unrestricted lunds. whth are the free reseNes ofthe charity Thgr• are
sufflclent fvnas io cover management and administrab'on Costs and lo resp)nd to emergency applicalkms for
grants which arise from time to Unrtstrthd fvnds were maintsined at thls level throughout the year.
Rl8k managoment
The trustees have exanNn8d the malor strateg4 business and operational risks whi¢h Ihe charity faces and
confr'rm that systems have been establish&J to enaL*e regular reports to be kwDJuced so that the necessary slepg
can be taken to lessen Ihose nsks.
Plans forlho fulur•
The Irusie8S have met with C.Hoar8 and Co with a to the Foundation being subsumed into a Master
Charitsble Trust run by C Hoare & Co. The trustees fed this is a cost effectThie way forward, the current tnjstees
woukl Still b* trwa9¥d iii proposlng thelr pretsrreo oonees.
TnMtO•8 ro•ponslbllltlo8
L•gislalion require8 111¢ trust￿$ to pyepgre lIna￿l81 ststements for each financial year which show a
true and lair vwi ot the stste of affairs of the Charity and of the income and eX￿nditUre of the chanty
for that peritsl. In Pfeparing those financial statements, the Trustees are required to:
select surtable accoijntino pol￿￿$ and Ih•n appty th•m ton6i6tonty:
mako judgments and estimates thot are reasonal)le and prudent"
stste whether applicat4e accounkn.ng *ndards and stat•m8nts of recommend￿ praetlcg hav•
.n fnllowed, subj•cl to any d•partures discloG¢d and exploinad in the fin•nGial slat¥11￿lI1¥,
and
pregare the financial staterrKJntA nn the going conearn ￿#V1 unl4• il i# in4pproprioto to
pr8sum• that th9 Charity will ¢ontinuc to oporats.
The TNStees are responsible for keépino rbroper ￿0￿nting r•eord* wthieh di￿0￿ vAth r•o$onobl¢
APf.(Iracy at •ny tim9 th• finanwl p06ikn.on of tho Chenty and to en¥ure that the financtal >l<il¥iii¥nts
compky with tho ChariliesA¢t 2011. are dso responsit48 forsafeguarding the assets ofthe Chanty
and hence br taking reasonable steps forthe pments.
d41
on
fraud and other irregulantie$.
A D McBain
M¢
O J McBain
McBain
XDated.................................

MCBAIN FAMILY FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE MCBAIN FAMILY FOUNDATION
I report to the truste8s on my exarnination ofthe ffin8nu81 statements ofthe McBain Famly Foundab"tsn (thè tharityl
for the year ended 31 January 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsit4e for Ihe preparalion of the ffinanual statements in accordance
with the requirements ol the Charities Act 2011 (the 2011 A¢ti.
I report in ￿spect of my examinalion of the chanty's financial statements camed out under section 145 of the
2011 Act. In carrying out my examination I have fc41cpwed all the apF4icat4e Directions given by the Charity
Cornmission under section 1451Sllbl ol the 2011 Acl.
Ind•p•nd•nt •xamin•rf• Statèmènt
Sin¢e the charity's gross in¢ome exceedtrd £250,000 your examiner mu$1 be g memb&rof a body li$l8d in Seetion
145 01 the 2011 A¢t. l confirm that l am qualified tts undertakè the examination bècause l am a member ol the
Inslilule of Chartered Accountants in En￿and and Wal$$, which is on$ of Ihe listed btyJies.
I have completed my examination. I confinn Ihat no matters have come lo my 8ttention in ctsnnection with Ihtr
examination giving me cause to believe that in any material ￿speCt..
accounting records were not kept in respect ol the charity as wuired by section 130 of the 2011 Act,. or
th¥ financial st8lement$ do not accord ￿th Ihos& records," or
the financial $talemenls do not ¢ornrAy with the ap￿•¢01￿e reqU1￿MentS con¢eming the fomi and ¢onlent
of accounts sel out in the Charities (Accounts and Reportsl Regdalions 2008 other than any requirement
that the 8c¢ounl$ give a true and fair viw which is nol a matter ¢onwdered as part of an Independent
examination.
I have no conearns and have come acn)ss no other matters in connection ￿th the &xamination to which
attention should be drawn in this report in order lo enatrAe a prO￿r underslanding of the finanri81 slalemenl3 10
be reached.
Claire NorwrKJd Bsc FCA ATII
Carpèntèr Box Limited
Pip81 House
4 Dukes Court
Bognor Road
Chichester
West Sussex
P019 8FX
2511112025

EAIC
STE
Ya404
117
31 Jan
Gyrr•ntA•••ts
hv88trnprts4t M8rk•t Vlh
2.(K)S.￿
015,3b2.&8
Cash at
1W,8XJ.73
491.7e2.72
17B624O.
.207,14&28
Ll4b*tl•• f•lllw 12
Credttors
16
Fund &l•o¢• * It J1.12S
Unrn8thet•d
È 2.018 ￿.12
Nthla Mc8ah
¢JwrJim•i Mr£wkn
Soph&• Me￿kn

Pago S
Tot
Totsl
Not calh uied in operating activities
12
701.75B.20
1271.602.61
Cash flM from Inve¥tlng a¢11th￿.
Interest and dividends
Purchase of investments
Proceed5 from s&e of inve51ment5
Aid repayment
Not ¢•8h provldod by In¥estlng •ctIv￿les
511.273.22
11.572.121751
519.2(Kl.34
7.940.95
(852.382.031
103.372.67
11.W2.650.191
(741.068.411
Change In c•8h ond caih 8qul¥•lents It) th• yoor
13C#).891.991
11.012.671.021
Cash brought lorw8fd lai bank and on portfclol
C••h urrlod lor*•r
491.762.72
190.870.73
1,504.433.74
491.762.72

Pay6
ncludin
Income and Ex
ndriure Account
Y•ar ended
1.1.2
Year fynded
Donations and Legstyes
Gross Invesimanl Sncomtr
779,412.82
50,273.22
130,000.00
7,940.95
Totsl Incorn¢
829,686.04
137,940.95
Ra80urc•8 •xynd•d
Charitable Activities
249.B81.62
45,43182
Totsl R88ource8 Exp•nd•d
249,681.62
45,43182
Not ILM•eJllGoln• on In¥￿tm•￿t8
Re8lised Gain on 581e ol Investments
Unrealised Gain on rev8luabon ol Investments
20,051.70
117.011.72
1.036.0
65.337.11
Not Incom• for th y•orlN•t mowJm•nt In fund8
716.867.84
158,880.33
Fund balance brou9hl forw8rd
1.299.795.28
1.140,914.95
Fund bilinu c•rrl•d lo￿￿rd 31.1.2J
2.016,663.12
£ 1,299,795.26
Nona ollha Charity$ •alv￿¢$ w• 0¢4thd tyd1s¢ty)￿nu¢d durwvJ thi$ fiscal Y&ar.
Tho Chodly h•$ nD reGrynised g•ln$ orlo55e5 Ol￿r th•n IhDSe d•rl with in th•
Slalemenl of Flnanril Aclivrtkn&
The notes on page5 7-11 form part of th888 acCO￿ts.

Page 7
THE MCBAIN FAMILY FOUNDATION
REGISTERED CHARITY NO. 1178329
Notes to the Accounts for the
rlod ended 31 Janua 2025
1 ACCOUNTING POLICIES
The McBain Family Foundation is an unincorporated charity. registered with the Charity Commission number
1178329. The registered address is I￿1n Mrtchell LLP, Thomas Eggar House, Friary Lane. Chichester, Wesl
Sussex, P019 1UF
1.1 ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with Charibes Act 2011 and "Accounting and
Reporting by Charities". Statement of Recommended Pracliee applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" las
amended for accounting penods commencing from 1 January 20191. The charity 1$ a Public Benefit Entity as
defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity.
The a¢¢ounls have been prepared on the historical ¢ost convent￿n modified for the revaluation of investments.
The principal accounting policies adopted are set out below.
1.2 GOING CONCERN
Al the time of approving the accounts, the trustees have reasonat4e expectation that the charity has adequate
resources to continue in operational existence for the foreseeable fvlure. Thus the Iruslees, conb'nue lo 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 trustees in fvrtherance of their charitable objectives
unless the funds have been designated for other purposes.
Incoming Resources
Incoming resources indudes investment Incorne, which is recognised when the charity has a legal right lo the
income and donations which are recognised on receipt
The gain or loss arising on the disposal of an asset is determined as the difference betsveen the sale proceeds
and the carrying value of the asset, and is reccgnised in net incomellexpendilurel foi the year.
GA.. 6719009 1

Page 8
1.4 GRANTS PAYABLE
Grants payable are debited lo expenditure within the Ststement of Financial Activities during the period in which
the Trust enters into a constructive obligation to make such paymenls. recognising a liability where payments are
to be made in future periods.
INVESTMENTS AND INVESTMENT INCOME
All investments are stated at fair value and the movement shown comprises both realised and unrealised gains
and losses.
Realised gains or losses arising on the disposal of inveSt￿nts (together wrth provisions for diminub'on in value),
are credited or debited lo the Statement of Financial Acb'vib'es, and subsequendy transferred lo Unrestricted
Funds.
CHARITABLE ACTIVITIES
The cost of charitable activities consists of grants made.
GOVERNANCE COSTS
Governance costs comprise all costs invdvin9 the public accountability of the charity and its compliance with
regulation and good practice. These costs include costs related to slatulory independent examination and legal
fees together with othèr overhead and support costs including investrnenl management fees and bank charges.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include deposits held at call with bank&
FINANCIAL INSTRUMENTS
The charity has decled lo apply the provisions of Seclion 11 "Basic Financial Instruments. and section 12 "Other
Financial Instruments Issues" of FRS 102 to all of its financial inslrumenl&
Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there
is a legally enforceable right to 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.
Baslc flnanclal assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured al transaction
price induding transaction costs and are subsequentty carried al amortised cost using the effective interest
method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured al 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 assets
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 recognitson of the financial asset, the esb'mated future cash
flows have been affected.
GA.. 6719009 1

Page 9
If an asset is impaired, the impairment loss is the difference belween the carrying amount and the present value
of the estimated cash Ilows discounted al the asset's original effective interest rate. The impairment loss is
recognised in net incomellexpenditurel for the year.
If there is a decrease In the impairment loss arising from an event cccurring after the impairment was recognised,
the impairment is reversed. The reversal is such that the current carrying amount does not ex￿ed what the
carying amount would have been, had the impaimient previously been recognised. The impairment reversal 15
recognised in net incomellexpenditurel for the year.
Basic financial liabilities
Basic financial Iiabililies, including trade and other payables. are initially recognised at transaction price unless
the arrangement conslilules a financing transaction. where the debt Instrument Is measured al the present value
of the future receipts 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 from suppliers. Accounts payable are dassed as current Iiabililies if payment is due within one year
or less. If not, they are presented as non<urrenl liabilities. Trade payables are recognised initially at transaction
price and subsequendy measured at amortised cost using the effectsve interest method.
Derecognltlon of flnanclal Ilabllltles
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
2. CRITICAL ACCOUNTING EsnMATES AND JUDGEMENTS
In the application of the charity's accounting policies, the trustees are required to make judgements, eslimales
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 expeiience and other factors that
are considered to be relevant. Actual results may differ from Ihese estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basi& Revisions to accounting eslimales
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

p) o)
QTS<0225

Not•s t0th•￿¢0urts tOFth•
31 Janua
ZOZ5
& CRECITORS.. AMOUIITS FAIUNG DUE %ThIN ONE YEAR
31.1.25
31.1.24
Accru￿ expenses
Ir¥*in Mitthel LLP- Loll￿ 8 Pr￿e$S￿￿f￿l
Indep￿dent Examinèrslees
s.40￿￿?
s.$1￿{￿)
5,400.00
1.950.00
Mènsfdi Ccle
170.e67.ts)
179.577.00
7,350.00
CHARITABLE ACIIMTIES
YMr•nd•d
31.1.25
Y•4r 0￿11•d
Ji.1.24
GIAnts pAyAtlè Inota 101
235.e67.tY)
Js.000.oo
Share of Govern•DcÈ Co81J Inoty iii
14 214.62
249.881.fj2
9,433.82
45.433.82
10. 13RANTS PAY￿LE
Y•ar•nd•d
31.1.25
Y••r
31.1.24
rit•n•
Pi¢kup6 lor P￿ce
Stèrs AppeAI
ROY￿ Opera Hou
Chatham House
We Ukraininn
PeoFl• affected by war
man￿le1￿ C(4￿g
101m
30.wgj
8,000.00
10,000.00
10,000.00
10,000.00
lo.ri￿ty)
f70.e67.00
235.667.00
36.000.00
11. GOVÉRNANCE ¢O$TS
Y••r•nd•d
31.1.25
Y••r
31.1.24
Ir￿￿ Mllchdl LLP- 6 PrrfeuKmlfw•
TIDey FInAnC4￿ #Annlnll Ltd
Ind•p•nd•nt Ex*min•r5f￿1
8Ank charge
8Afd4yI. thici<tlonkry M4nAg•moth
Sigmi
Prollt on Fcithlln currerrty axchono
5.400.00
l.S•theo)
2.09&81
3.é09.23
I.￿￿57
5&99
14.214.62
2.57D.QQ
270.50
1.886.67
e08.65
9433.82
12. RECONCILIATION OF NETIW)VEMENTS IN FUNOSTO NET CASH FLOW FRCIIOPERAIING ACIMTIES
Y•ar•nd•d
31.1.26
716.867.
Y••r •ffld•d
31.1.24
158.88D.33
Net movament In fvnd*
Dedu¢tdlV￿end ond Ifflerest Ifwrne shr4￿ hi ITh￿￿n9
Losse￿(GOin$) on diswsAI ol in¥esimeMs
Add bo¢* hssesldeduct IgBinsl on Inve￿Or
IID¢repselldecrea$e In debior
<50.27&221
{20.051.701
17.940.851
11.03e.091
172.227.00
7Q1.75&20
£ 1271 602.81
13. ANALYSIS OF CHANGES #I NET FUIIDS
Th• ¢hailly had no d•bt dunng th•y•Hr
14 TRUSTEES. REMUNERAMOII 8EIIEFrrs
There tyustee$' remuneration orother forth• rnenthyd 31 January202$12024". nl)
Twst88s 8xpens8£
There were no tru$tee$' exwses ￿1￿101 the 31 JanuwY2025{2￿dI nlj
1& EMPLOYEES
There were no during they8ar{2024 ral
16. RELATED PARTY TrANSACIIOIIS
There donab￿$fromtrustees al £779.41312014 £130.LW}ufwestrided

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