THE JOHN MACLFOD I:HARITABLE I'RUS'T CHARITY COMMISSION REGISTERED NO: 1192113 STATEMENT OF ACCOUNTS for the year ended 31 January 2025 THE JOHN MACLEOD CHAIUTABLE TRUST CONTENTS for the year ended 31 January 2n2$ Cliarity Inforniation Trustees A1￿Ual Report 2to5 Indepeiident Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 9t012 THE JOHN MACLEOD CHARITABLE TRLST CHARITY INFORMATION Registered Address clo Gina Parker 30-32 tA)mb&rd Street London EC3V 9BQ Trnstees J.J. Mact£od N.D. Palel H.G.F. MdcLeod Chair (ApFQinted 2 November 2024) Bankers Weatherbys Private Bat 22 Sackville Street IVla}rfair Londan WI8 3DN Independent Exatniner Jeffrey Altman & Company Waymall House 141 Wicklwn Road Shirley Croydon Surrey CRO 8TE THE 50HN MACLEOD CIIARITABLE TRUST TrU￿EE$ ANNUAL REPORT For the year ended 31 January 20 The Trustees present their report and accounts for the year ended 31 lanuary 2025. Governance and Management The Scheme - The lohn MacLeod Charitable Trust was established by a deed dated 18 January 2020. The c.harity registered with the Charity Commission, registered number 229268 on 2 ri0ve￿ber 2020. Trustees The Charity is administered by Trustees and their powers are deterEnined by the declaration of trust dated 18 Fanuary 2020. The Trust Deed states that there must be at least two trustees and at least two or one-third of the tTUStees (whichever is the higher) must be present at any meeting to be quorate. The trnstees mu.st not be under the age of 18 years and not be disqualified from office under the provisions of the Deed. The trustees must meet at least twice a year at which they should look to appoknt the income and at their discretion all or part of the capital of the charity in furtherance of the objects. In 8electing individuals for appointment as trustees, the trustees must have regard to the skills, kiiowll'dge diid experience needed tor the effective administratlDn of the charity. They will receive a copy of the Trust Deed and any amendments made to it along with a copy of the charity's latest report and statement of accounts. If a vacancy occurs the trustees must note the fact in the minutes of theiT next meeting. Any eligible trustee may be re-appointed. If the number of trustees falls beloky the quorum, none of the powers or discretions conferred by the deed or by law on the trustees shall be exercisable by the remaining trustees except the power to appoint new trustees. Risk Management - The Trustees have assessed the maior Tisks to which the Charity is exposed. tn particular those related to the management of its investments and finances, and are satisfied that the system5 in plac.0 sufficiently manage its exposllre to those ritsks. Obpectives and Activities Objects - The general object of the Trustees is to apply the income of the Chariry in order to advance such charitable purposes (according to the law of England and Wales} as the trustees see tit froin titne to time. The Deed does not allow the T￿Stee8 t.o apply the property of the charity for purposes whÉch are not charitable in accordance with section 7 ot the Charities and 'frustee Investment {Scotlandl Act 2005 and/or section 2 of the Charities ACÉ (Northern Irekandl 2008. The Trustees consider that the objectives and activities of the Charity are in accordance with the Charity Commission's general guidance on public benefit. Area of Benefit This is defined within the Trnst Deed as being throughout England and Wales. Grants may be made to findividuals and organisations which are either registered Charities or Voluntary Bodies. Summary of Main AchieveLlleDts alld Events 'I'lie vbjects of fvledecins Sans 'Fioiitieie (UK) are to relieve and promot@ the relief of sicknp.s and to provide medic.al aid to the injured and to proteet and preserve good health by the provision of medical supplies. personnel and procedures calculated to overcome disease, injury or malnutrition in any part of the world in accordance with the principles espoused by the International Council of Medecins Sans FrontieEes in October 1990. IAedeeins Sans Frontiere (UKI is also known as Doctors Without Borders and is registered in England and Wales with the Charity Commtsslon number 1026588. The trustees have agTeed to grant £200,000 {2024.'£160,000)to this charity during the period. Actlon Against Hunger UK is a global humanitarian organisation that aims to stop world hunger. They work with children under 5 and their parents and tommunities in 55 countries including the UK. Their aim is to prevent and treat malnutrition in children under 5. Shockingly 45 percent of all child associated deaths world-wide are still related to hungerl Every day 2000 children die frotn hunger related causes. Complex issues like poverty, gender inequality, clisnate change, confIict. global economy crisis, pandemics and POQT eduLatioD contribute to food insecurity around the world. Action Against Hunger is registered with the Charity CoTnmission of England and Wales, registration number 1047501. The iharity objects are to provide incieased resou¥ces to support projects that address acute malnutrition and respond to humanitarian crises. They also aim to increase the impact and quality of responses to aciite malnlltrition and food crises by improving accountability, coverage and sustainability and Anfluence donors, and practitioners. policies and progiammes on the responses to and prevention of food crises and malnutrition. The charity granted a payFnent to The Robin MacLeod Clwltable Trust which is a related charity with trustees who are related to Close relatives of the trustees of this charity, or are trustees of both. The charity was registered within the Charity Commission of England and Wales, Tegistration number 1192118. The charlty made a grant of £88,938 {2024..£198) to the charitable trust which has general charitable objectives. The trustees will consider awarding grants to registered Charities and where appropiLrtsl R¢gulations 2008 other than any requirement that the aeeoLtnts give a 'tnJe and fair viev which is not a rnatter considered as part of an independent examination. (4) the ac£ounts have TTrOt been prepared in accordance with Éhe methods principleg of the Ststernent of RrLu5riiiiLiid¥LI Pr￿ll￿¢ lor aLLouniiiJ¥ rep()rtiii¥ by clidtiLi¥5 appliLabl¢ to tyhariti¢¥ prepk)riii¥ iheir arxounts in accordance with the Financial RcporÉing Standard applicable in the UK and Republic of Irelat2d {FRS 102). have llo concerns and have come across no other Tnatters in connection with the exatniFEation 10 which alteiitioii should bt drawn in this report in ordeT to enable a proper under%tanding of the aecounts to be re￿h¢Ll. MikaelaAltman F.C.A. JEFFREY ALTMAN & COMPANY Chartered Accountaijis I'avinaii H0115e 141, WIC￿?an1 Riiad, Shirley Lroydon CRO 8TE Dale.. THE JOHN MACLEOD CHARIT ABLE TRusr BALANCE SHEET At 31 Janua 2025 2025 2024 Note FIXED A.SSETS Investn)ents 3,645,2i2 3.&15,232 CURRENT AS8£TS Cash at bank Gift Aid claims ntliu laKtts and soiial seeuTsty 3.563.210 2.094 815.487 4.342 821,923 4,342 3.567,552 C.REI)ITORS.. Amoputs f*llio% d¥¢ wfithin one year AceTuals and def¢￿ed income 2,400 1.100 Nk1' CURRENT ASSETSI{LIABILITIESI 3,565,152 7 565,152 820,823 4,466.055 CAPITAL FUYDS Endowment 2.952,715 2,952,715 INCOME FUP4DS Unrestrieied 612.437 1,513,340 4,466,055 NET LIABKLITIES £ 3,i6i,li2 I'lie financial staiements on pages 7-12 were approved b>. the Trustees on i ! their behalf by.. -2025 and signed o J.J. Ma¢iA)d Chair THE JOHN MACLEOD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the ear ended 31 Janua 2025 Unrestiicted Restricted Funds Funds 2024 Total Note Total INC.OME Gift Aid claimed Grants and donations Incoine from tnvesiments 115 50 450 225.484 319,804 225,534 320,369 50 225,484 225,534 TOTAL INCOME EXPENDITURE Charitable aetlviti¢s (irants payable 290,332 160,698 Support costs IT and software costs LegTal and professional fees Writing back of gift aid prevously pr()vided for Independent examiner's fees TOTAL EXPENDITURE 212 17,531 212 196 125 815,487 2.875 1,126.437 815,487 2,875 i.ioo 1,126,437 162,119 NET MOVEMENT IN FUNDS ( 900,903) (900.903) 158.250 'und balances a.s at l February 2024 3 l January 2025 1,513,J40 2,952,715 4,466,055 4,307,805 6l2,437 2.952,715 3.565,152 4,466,055 THE JOHN fvIACLEOD CHAIUTABLL TRUST NOTES TO THE ACCOUNTS for the tar endtil 31 Jgnua Ac¢ountiAg Polict¢s The significant acrountiiig policies applied in ghe prepardison of these flnancial sttt¢ments ar¢ out below. These policies have been consistenily applied to all y¢ars presented unless otherwige stated. lal Bgsls of Preparatlo# •fFinY4Thtial SlatemeAts The ch&riLy con5¢itute¥ a publati benefit tiiiity as defined by FRS 10? Tht fiJMAci&l siatetnexts hav¢ beert PTepaTed in accordance with A￿Q￿JntIllg and Reporting by ChaFlti¢s.' SiaÈement of R¢wrnmended Practice applicable to charities preparing their accounts in ￿OTd￿nCe wilh th¢ Fin8￿ClaI Reporting Sr&nd2rd applicable in the UK and Republic of Ireland issued tn O¢tobeF 2019, the Finsrcial Reporting Standard ap.plicable in the United Killtsdom and Republi¢ of IreSand IFRS 10?), the Charities Act2011 and UK Gener&lly Accepted Ac£ounting PraGtiee. The fhttatJcial stokinents a¥e pr¢p&Fed on a going ¢oD¢ern basis under (he histori￿[ cost ¢onven¢ion, modified to include ctrtaizj items at fair vllue. Th¢ financial statements 8r¢ pr¢sented in st¢rling which is the funclional ¢urT¢n¢y of the Charity. {bl FU￿￿5 UnT¢5tricted funds are Availabl¢ for use at th¢ dis¢r¢tion of the Tnjstees in furth¢r#n¢tr i)f the general obje£fives (Trf Ihe C.h8Tity and which h&v¢ ntst b¢en d￿l￿￿￿ted for other pUTrts￿. Endownient funds repres¢nr those assets which must be held pernTranently by th¢ Chariry, principally Investments and freehold 18tkd. ID¢ome arising th¢ ¢ndowment funds Gth be used in furtheraDLe of the ￿neral objectives of the Charity and is included as unrestricted incvFne. Any Lapital ￿1￿3 or losses arising on the inveStrt￿nts. or frethold land form part otihe endowrBetht ftjnds. Icl Jneome rttogrtSti0rt All inLoine resources are included in the StatLRietit of ALlivilies ISOFAI when the C'h¢irily As legally entitled io the iD¢om¢ after any performance ¢onditiotts have been T￿t, Ihe amount can b¢ measured T¢li#bly alld it is prob¥ble that the anconle will b¢ rertived. Investhient income is recogKised in Ihe accounts wheTL the amount w be measuTeil rtlt#bly and the Charity's right Éo Teceive p&yment Is estsblished. GY8nts re¢¢ivable are re¢otrni5ed in tke SOFA at fair value when &ll o)ndilion$ for ￿eeipt hav¢ bee $3tisfi¢d. IÉ li probablc that Ihe iiicorne will bL reLeiv¢d and 15ie amount can be nieabured rEliably. Deferred grant income repre%ents amounts rettived for futhre periods and is rele&8¢d to incoming res0￿reeS in the period for whi¢h it has b¢en received. No amount is included in the fJrtaNcial statements for volunkeT time in line with the SORP IFRS102). Idl Expendtture recognitio Exp¢JidiluF¢ is a¢¢ounled for gTOSS OTh an acci'uals ba5s¥ and been Llassili¢d under headiDgs that aggr¢gat¢ aEI Costs r¢la¢ed to the category. Char￿￿ble activiti¢5 expenditure include all resources applied by the c.harity in undertaking its tharitabl¢ objertives as opposed to support C0515. Th¢y ate the resourcE5 expertded in haJdling applications for relief and ￿minis￿l￿g grants approved by th¢'fru$te48. Supwrt costs are tliosc that assist Ilit work of tlie Charity but do noi diieLtly rttprestni charitable activities and include office costs and gowemance cosis. Donations r¢¢eivabl¢ ar¢ 8llo¢at¢d on the b￿1$ of the dortors, wishes. If a sp¢¢ifi¢ purpose is de1emil￿ed th¢n a F¢slTicl¢d fund is est8bli5hed for that purpose. Grants payable are reco8nist41 in Ihe Statrtnent of Financi￿ Adivities when they hav¢ be￿ approved by the TrLMees all fr)rtditions fot paym¢ni have been satisfied. THE JOHN MACLEOD CHARITABLE TRUST N(JTF.S TO THE AC.C.QUNTS for the tAr eMded JI 2025 Accounting Pollcle$ (eontinued) (e} Debtors and creditors receiv¥blelpsy8ble within one yegr Debtors and creditors with no stated interest rate and receivable or payabl¢ within one year are recorded at transaction pri￿. An losses arising from impairtncni ar¢ recognised in expenditure. (D Investments InNestm¢Rts are shown at their fair value at the balance sheet date (see note 4). Any movement in their fair value is recA)gnised in tbe SOFA. Ig} Gtsing CO￿tern The financial slatements have been prepared on a going concem basis as the Trt￿lee$ ￿lI¢Ve that no material uncertainties exist. The Trngtees have Considered the level of fi￿d$ held and the expected levcl of income and expenditure for 12 months frL)m authorising these tinancial stsl¢ments, which is sufrfjcient with the level of reserves of the Charity to LY able to Continue as a going concern. Investment Inebm¥ 2025 2024 Loan Interest Bank Deposit IT2tere5É r¢c¢ived 216,017 9,467 225,484 319,804 2025 2024 Grants payable furtheranre of the Charity'5 Objects Mell￿1n5 Sans Frontier¢s (UKIIDoctor% Without Borders NSPCC Action Againsi Hunger UK The Robii) mac.[.￿0d Charitable Trust Other srnall donatioiis 2(X).(M)O 250 160,000 500 198 88,9)% 1,144 290.3J2 160,698 Investments Mark¢t Value at 0110212024 Movement in Value Market value ai 31101125 Additions Disposal Proc¢¢ds Loans Livestrata Ltd 2.609,131 145,915 {2,755,046) l.i)an tn Private IndiviLlual I,OJ6.101 70,101 {1.106.2021 Year ended JI lanuary 2025 i,645,232 216,016 3,861,248} Year ended ) l January 2024 ),488,427 319,805 1163,000) 3,645,232 Durtng the year both loans w¢re repaid in full. The Livestrata Ltd loan 15 a 48 month loan at 9/0 fixed rate rolling interest, T¢payable by 2 August 2024. The Loan to the Private ¥Ddividual is i 48 month loa￿ at an interest rate of IOD/o, rolling interest. 10 THE JOH￿4 MACLEOD CH.IRII'ABLE TRLST NOTES TO THE ACCOUfv'rs for ihe e#r ended 31 J4nvary Z6?5 A¢erthal$ #Nd Deferred 2025 2024 Accjved expenses 2,400 Tr.AdowmÈTht Fund 2Q25 2024 ixed assets lTrvestmeDL5 Cash at B4nk 2,846.7 106.015 2.952,715 2.952,715 2,952.715 7. Trust¢¢s Rem￿ne￿*￿I￿n, EXPe￿s￿ Ind C¢)tttr•l DuriTrg the peri￿ nii r¢tllUnEraiioii or expthses were paid to any Ori￿ TrustLfS. The Charity is (X￿trolled b!. Ihe TFUStees as a body hlo indii'idu*l'l'FusIL'C lias coiits'tsl oveÉ IheChaKii). Relaltd Party TJUn¥￿¢tl0￿S Jokn Ma01.t￿l, IliaiF of the trn*c% up thc cknaritable foundaiion with initifjl Endow7[￿17¢ or £3,260,699 plus drrtluled 8itt aid claifft. Th¢ trus￿5 hav¢ a loan w Livestrats Ltd. a company whith M¥ John M&clKod is the soic diret &nd sliar¢holdtr. No ￿ncIle181 t¢rm$ h8vt b¢en offcred and Mr M&cLeod was excluded trom any relevant Ine¢-.IlfjiJS ilt ivhich tlie loan di*¢ii*s￿l ￿ld tem1£ agreed. I"h¢ Iiobin ￿CLe(￿ chan￿bl¢TrUs1 Ts d relakd chRrily with rtl8ied, imm&liaie family trnsieesio ihosc of this ¢liallly. 9. 1'Mrtyf¢n The proVi%iiX￿ nf the T￿st fked allow the tnislttg Io m3kc Sultsb￿ di5tributiOnS out of capital when ¢if¢UtrKilaiices require. 10. rund e•mpsAtive5 Yesr 31 January 2024 UtW¢Stri¢tsJ ETrlmvmeDI Fullds Total IN¢.I)M>". ift Atd tlaimeé Ciranls dnd donations Income inv¢stmu)ts 450 319,804 32D,)69 450 319,804 320,369 TO'fAI. INCOIIE XPkNDITURE Chgriiable A¢ttvities CJrailt% payablE Support Costs ITand softw?re c¢)$t¢ ix8al and prof¢ssi0fj81 fees llldwdent Exarniners fe 160,1>98 160,6I)8 196 196 125 i.l(K) 16 F.T IN'('f)IllE Trnnsfers be*ween funds NET MOVEMEf4T IN Fii,YDS Fund bolaD¢e$ 45 at l Febn]ary 2023 31 January 2024 158250 15&250 1,355 090 2 952.577 1,513J40 1952,577 4.307.805 4.46AQ55 THEJOHN MACLEOD CHARITABLE TRUST NOTF.S TO THE ACCOUNTS for the ehr tnd¢d 31 Janux 2025 I l. Post Ba18Nte Shtet Events Po.8f year eiid HMRC. liave disputed the validity of the ongoing Gift Aid Claim due the fact that ¢hLry felt there was a contlict on int¢Fesi in the Gtti Aid clairn. Therefore as a resul4 the Charity took if upon themselves, &4 a SILOW of good goveman¢e. to report th55 l&¢k of managem¢Nt of the conflict of interest ¢0 the C.17a¥i(ies Commission. The Charilies Comtni$5ion h&$ reviewed the facts of the case and subsequently ¢losed the claim. As a re5uli, the gifi aid debtor of £815,487 hès been written back in the ac¢ounis for the yeAr to 315t Janu8ry 2025. 12