THE ROBERT MCALPINE FOUNDATION REPORT AND FINANCIAL STATEMEKtS FOR THE YEAR ENDED 31 MARCH 2021 ch?ty R¢gi5tr4tion No 226646
THE ROBERT MCALPINE FOUNDATION CONfEIYTS Reference and Admini51rativ¢ fknils Report of the Trte Audit Repon Statemcnl of Financial Activities &8 Balance Sheet 10 Cash*low Semen1 Not¢s to the Financial Sthtements 12-16
tHE ROBERT MeALPINE FOUM)ATION REFERENCE AND ADMtNtsfRATIVE DKTAJLS C McAlpitte Icbair) A N R McAlpine The Hon. D M MeAlpille G McAlpine Miss G Busb Charity Dumber Registerfd offi¢e Eaton Court M3ylaDds Avenlle Hemel HeMd Auditor Hillw Hopki LLP 5X Clarendon Road Wa¢ford WDI7 IHP Bankers Uoyds TSB Bank PIC 11-15 Monumeni Strttt IKJndoD EC3V 9JA
THE ROBERT MCALPINE FOUNDATION REPORT OF THE TRUSTEES The Trus1 present the Annual Report whd audited Fu)&rtCi81 Statements for the year ended 31 March 2021. Stat¢menl ot ReeonllDended Pr4tfi The accounts have been PTes¢nted to accordatKe with the tequiTefflents of the Statement of Recomrnended Praciiee. SORP (FRS 102), as required by th¢ 2011 Charities Act. The Foundation was f¢)rni¢d as a Charity undcr a trust deed dated 28 March 1963 2nd exists to apply its funds aTJd inconle for the benefit of such charithbl¢ PUEPOW or charitsble inmitulions as thc Trustees ID their discrdion dctermine. Objeetlves And Adivi¢ies for the Public Benefit Th¢ Foundation operates virtua]ly cxclu5iv¢ly by killg identified Inefit grants w carefully 5elecd charitable organisations working in the CtOrS whith the Foundion particularly wishes supp)rL Achievement Perfornwice Total ineome from incoming tesource5 in th¢ y¢ar w&$ £678.457 (2020: £826,580). Tots] resources exp¢Trd, comprising chari(able exFendiiure. atnounted to £721.343 (2020: £722,723). leaving a net loss on incorning r¢sources (before gains) for the year amounting to £42.886 (2020.. £103.857). Totsl invesuneni gaiDS w¢re £3,819.7(KJ (2020.. losses £3.337,384) including unrealised gal% aDd lossu arisin8 frofft Changes in value of inveslments. The Trusiees of the Foundation throug1ul the yur w C M¢Alpine (Chair) A N R McAlpin¢ The HDTr. D M McAlpinc G McAlpine The power to apw)int new or addiuonal te¢S is V¢51¢d in th¢ Trustees. The Trustres meet annually and dlS1onS regarding gTanl-making are made at meiDg. Re5erYes Policy The Tfusiees, policy is desig1 io build up reser through capltsl growth rather than xcumulauon of income, which is used (o meei the Tnt$, statd policy on giving allts for clwitsble pUre$. The Trustees. policy is to aim to hold in cash reserve of at leasi two years. worth of gtanL8 attd the remaining reserves are be held as invesmieDts in order to genuak inco. Historily. iOta] grants paid in a year range between half and three quarws of a rnillion rKJtm(ts. Any surplus funds genered e used to pay out addiiiorsal grants or seni io brokers for invesun¢nL At the year end. cash at the bank 15 £1.174,952 and total re$Ve$ amount 10 £19.219,529. both of which are in line with th¢ Thistees, policy. Investment Polity The Trus. Erfjlicy is designcd to a¢hi¢v¢ m¢dium terni ire in capital value by considere4 siock selection. and genera a level of investment income enabliDg the Foundation to the charitable objecuves indica(ed above. The invesimeni of funds is at the discretion of the Trustets. Plans for the futj The TrLLStees aim io mainrain the p)li¢ies and levd of activity whith have r&wlte41 in the 8rants payable in recertt years.
tHE ROBERT MeALPINE FOUNDATION REPORT OF THE TRUSTELS Risk MaDAgtment Th¢ TStee& realise that the FOUndlOn is exF1 to th¢ nornthi risks. and gtwd #gaittsi them. Prinelpl risks and uhertaInti¢S The Trusiee's deem tl)eJe LO three Principal risks the FouDdatiOn 15 eX>Sed to. Thcse aTe: devaluation of invtt5tments reducing long temi income; devaluaiion of overseas inv¢slm¢nts a5 a su1t of advetge r(Kei8n exchange rare movements affeciing both capital reiurns and income ar.. fa]IKng intrresi rates teducing inveslm¢nt gains 1)n balances. These risks are miLigaied and managed by linking grants to the income receKved: so thai if income reduces such thai the Trust canrtot sustain the same level of grants. th¢ Foundion would redtsee the grants given OUL Because the ajority ofthe Foundation's grants are noi ongoing commithiellts. the Tnjsiee's are confident they Can manage these risks effectively. CTiteii• or rne8wres to suc(e4 in the year The Thste&5 MsUre suc¢es% on the ability of the Found1 to m8iDtsin the level of8fanLS by way of invesiment incomelreiurns on an atttsyal basts. Summ4ry of achitvementy performance obje¢tives Budge1 income and graDL% are measured against a¢ll figur on an annual b&%is. Detsils olKey Perfornwe IlicatorS The Trwtees, do not key roMI3Ce indicwor& PrinLipal fulldillg sourcts The Foundation's principal fuDding is sourcejj from invesuneni lACOll. capitsl returns on investments held attd donations from tyusts. Use of volunteers The Founda(ion does not w Yolunteern. CoDDeeted orgaDisation8 and related prties The company does not with any eonnected org9n11OnS or lad par(ie5. Siglled on behalf of the TrusttÉ% Mr Cullurn McAlpine Chairtna 24 November 2021 Eaton Court, Maylands Avenue. Hemel Hempsad. H¢rtf(Ktshire HP2 7TR 2021
THE ROBERT MeALPINE FOUNDATION srATEMENT OF TRUSTEES. RFSPONSIBILfnES Year euded 31 Marth 2021 The trustees are responsible for preparing thc Twsiees. Report the flnancial 4atements in aeeordance with applicable law. The Trustees present Iheir rewn and the audited finw]¢ial sthrern¢nts of th¢ charity for the y¢ar ended 31 March 2021. The uSeS have adopted the wovi5ions of the Statement of REcomfflBnded Praciice (SORP) "Accounting and RetM)rting by charli1, (FRS IIY2) in preparing thc annual rcrK>rt and financial statements of the haTity. The law applicable to chariiies in England & Wales require5 th¢ to prepar¢ financial ststements for eaoh financial year which give a tyue atbj fair view of the of affairs of the charity and of the incoming rc50urces applicion of resoutces of the charity for thaE period ID prepartng financiat ststements. trustees are rcquired select suitable acc(xthting lICIeS aAd apply them consisndy; observe the methods and principles of the awities SORP. make judgements and estimate5 which are reasonable and prudent: stale whether applicable attounling stsndards have been follow, subieci to any matetial depanures disclosed and explained in the financial statements- prepare the financial ststements on the.tsoinfw concern b&sis unless it is inappropriate presume that the chariry will conunue in otwation. The Thtee5 are reswm5ibl¢ for keeping allting records that dIlOSe with rwonable accuracy ai any lime the financial rM)sition of the clwity and enable them io ensure thai the fmancial siaM]ents comply with the Chille5 Act 2011. lthe Charity (Accounts Rels) Regulations 2fX)8) and Tj Deed. They arc also responsible for safeguarding th¢ Jsseis of the Charity and hence for taking re&wnable steps for the preveniion and detec(ioft of fraud and oiher irr¢gulwities. In so far as the trustees are aware: there is no relevani audit infomlauon of whicb the charitable company's auditor is unawar4 and; the trusteGS httve taken all the S*ps they ought th have make the{lY awgn of any televani audit inforllLaLion atld to cstablish that the atjditor is aw&e of tha( informaLiO Signed behalf of the Trustees Mr Cullum McAlpine Chairman 24 November 2021 Eaton Couro Maylands Avenue, Hernel Hernpsad. Hertf(Kdshire HP2 7Tr
THE ROBERT MeALPINE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRusfEFS OF THE ROBERT MCALPJNE FOUNDATION OpiDiOll We have audited the financial 5tatemcDts of The Rort McAlpine Foundation (the 'charity') for the year eDded 31 March 2021 which compTi5e the Ststement of FUnCIal ActiYiti&%. the Balancc Sheet. the c&sh flow and the related not¢5 10 th¢ financial 5tat¢m¢nts. including a 5Umtnary of signiflcant accounting Ex)licie5. The financial reporting framework thai ha5 bTr applied in their prepardtion is applicable law and Unid Kingdorn Accounting Standards. includÉng Financial Reporting Siandard 102 The FinL7nciul Reporting Standord applicabl¢ in ihe UK ond Republic of Ireland (Unld Kingdom Generally Accepted Accounting Praclice). Ln our opinion the financial swements: give a true and fair view of the state of the chariLy'S affairs as & 31 March 2tr21, and of its incoming resources and applicatiott of K8ources, lor the year then ended. have been PrOTlY w¢patt41 in ¥¢onl8nce with United Kingdom Generally Accepted Aewunting Practic¢: and have been prepared in accotdance with the Tequirements of the Chariues 2011. B&sis for opinion We conducied our audit in accordance with Iniernaiional Standards on Auditino (UK) (ISAS (UK)) and applicable law. Our responsibiliti&% under those standards arc further descritrd in the Audiior's reswisibilities for the audit of the fanancÉal 5cents Sectioll of our rEEK)rt. We independeni of the charity in accordance with the ethical requirernellts that arc relevant to our audit of the financial atelents in the UL including the FRC'S Ethical Standard. and we havc fitifilled our other ethica] rcstK>nsibiliti&8 in accordance with these requirelnents. We believe that the audit evidence we have obiaitied is sufficieni and 4)prnprie io wovide a b&sis for our opinion. ContlusioA% relating to eoneern In audiiints ihe financial statemeTits. we have concluded the trusiees, use of the going cOern basis of accouutillg i the preparation of the financial swements is approFfiale. Based on the work we have pthmed. we have not idenufiejj any material uncenainties Telaung events or condiiions thai. individually or collecttvely, may cast significani doubt on the chariry's abiliiy io continue as a going concern for a periTrJ of at leasi twelve months fTom when the financial s&nl are auihorised for issue. Our responsibiliiies and the responsi.]itieS ofthe tDJStet5 with re5Fect going concern are described in the relevant sections of this report. Other itifonnation The other inforrnation comprises the infortnaiion included in the Annual rert other than the financial StaTneiS and our Auditor's report thercon. The trSlee5 ¥rE responsible for the oiher infomlarioll contained within the Annual report. Our opinion on the fm8neial staiemenLS does no( cover the other inf0m?lon and. excep( (o che extent oiherniise ¢xpli¢itly stated in our retKJrt. we do not exptess any fom) of assurance conclusion thereon. Our responsibility is to read the oth¢r informatÈon and. in doing so. cottsidei whether the o(her inforniation is Materi]Y inconsistettt wilh ihe financkal staLements or our knowledge obtained in ihe course of the audiL or otherwise appears io be maieriaily uiisstated. If we identify such tIal inconsimeocies or appareni maierial misstatements. we are required io dererniine wheEher this gives rise to a fflaterial rnis5tatetnent in the financial stemcnts thcmselves. If. based on the work w¢ have perfomied, we conclude that there is a mawiai mis5tmeni of this ctheT information. we are Tequired io tepon ihat faei. We have nothing to report in this r¢gaTd. Matters OD whith we are rtquired to report by exLYPtion We have nothing to report in Tesrrti of the following maii¢rs in relation lo whi¢h the ChaTiiies (A¢ts and Repons) Regulations 2(K)8 require us io teport you if. in our opinion: the information given in the firAanciaJ swem¢nts is iDCQllSiStent in any material re5Frtt with the tee5. rewjo or
THE ROBERT MCALPINE FOUNDATION sufficient accouniing records have noi been keptr. or Ihe financial ststements are in agreemertt V4ith the ¢cunting records. or we have noi Teceived all the InforntiOn and explanatio w¢ requir¢ for our audiL Respo]bilItieS of tr As explained more fully in the I$t¢¢s, r¢sn$1b1]1tses Ma(emenL the trustees are reswjnsible for the prepardtion of rinartciai statement5 which give a truc and fair view, aThd for such iniernal control &5 the tru5tee5 dctermine is necessary lo enable the prepardtion of financial SMents ihat ate free from ThcTIal misststemenL whether due to fraud or error. In preparing the financial s¢ments, the truses are ryLsible f(r &%se55ing the chariry's abillty to coniinue as a going ¢on¢em, disclosing. as applicable, matters telaied going concern and using the going concern basis or ac¢ounting unless the trusw either innd to liquidate the clwity or to ccase OFmtions, or have no realistic alt¢rnauv¢ but do so. Auditovs responsibilities for (he audit of the finant1 statements We have been appoinied Ls auditor under 5eaion 144 of th¢ Tharitie5 Aci 2011 and report in accordattce with regulations made utthr section 154 of that ACL Our objectives are io obtain Th8onable &ssvrancE alM)Ut whether the financial stsiements as a whole are free from Marial misstaien]ent, wheihcr due to fraud or error. a1 to issue an audiior's rel thai includes our opinion. Reasonable atsurance 15 a high level of suranCe, but is not a gurniee thai an audit conducied in accordance with ISA5 (UK) will always detect a material mi55t3ternenl wtwj it ¢Xi5ts. Misslemen can arise fron) fraud or error ar a¥e considered material if, individually or in the aggregate, they could reasonably expected kn influence the eeonomic decisions of users taken on the b&si% ol these financial SMents. Irregulariti&s. including fraud. arc instance5 of non-compliance with laws and regulalions. We design procedures in liije with our rcspon5ibilitics. outlined akK>ve. de¢l material missiatrments kn respec( of irregularities. in¢luding fraud. The exlent to which our pr(lUreS are capable of detec(ittg iegulartieS, including fraud is detailed below: We have aSSed the natwe of the itidustty and sector. control environment and business perforniance including the remunerauon inceThiives and pr&ssures of key matsagement". Th¢ piimary r¢sp)nsibiliiy for the prevenuoo and de(lon of fraud rests with those charged with governanee of the entity and managemenL We consider the results of our enquiries of m8nag¢ment about iheir own identificaiioD and ISsent of thc risks of irr¢gulariu¢s: Any matters we identified having obtained a1 r¢vicwed the Chariry's dMentiOn of their wli¢i&8 and prweduTCS relaiin• to= idenulying, evaluating and complying with laws and regul10$ and wlKther they were aware of #ny insiances of non-compliance. deteciing and rcsFonding io the risks of fraud aTrJ whether th¢y hav¢ knowIge of any acwal, susrKcted or alleged fraud. the internal contro15 estsblished io rnititsaie fisks of fraud or Thon-¢ornpliance with laws and rcgulaLtons' The tnaiters di5CU55ed among the audit engagemeni am re88tding how athd where fralld might cur in the financial sthcements and any trla1 itidicors of fraud. a tesuli of prrKedurA wc considernl the op[jnies and incentives th may ¢xist within the organisation foT fraud and identified the grea1 tenti for (rd. In MMOn wilh all audits under tSAs (UK). we re also required to perforni SFttific procedures to iespond to the risk of aw¢men1 overridq including testing journals and evaluaiing whether ther¢ was evidence of bias by the direci¢)rs that repend a risk of tnaterial Jni55tatement du¢ to fra1. We also obtained an understanding of the legal alld regul*ory frameworks that the CtrIty opera$ in. focusing on provisions of those laws and regulations that had a dir1 effeci on the deiemination of erial amounts and disclosures in the financial sthiements. We f(Ku5ed on laws and regulalions thai Could give risc to a matetial l$StateMe[l in the financial Sthteunts, including, bui limid to. the Charities Act 2011 aod relevatEt tax legi51atitsn.
THE ROBERT MLPINE FOUNDATION Because ol the inheient limiiauons of an audii, there is a risk thai we will not derect all irregularities, including those leading to a malErial misstatement in the finartcxal smentS or non-compliance with regulation. This risk increases the more that compliaTtce with a law or regulation is MoVed from the events and transaciions reflted in the financial 5taternents, &$ we will be less likely to 1corne aware of instsnces of non-cOp1iaCe. The risk 15 also greater regarding inrgulariti&8 Curring due ro fraud rather than error. as fraud involves intentional coDCealmcQ forgery. collusion. omission or miryresenwion. A funher description of Jr responsibilities for th¢ audit of th¢ financial sta*m¢Dts is Iated on the Financial Reportinct Council's websiie aL' www.frc.org.ukJauditor5resp)nsibiliiie5. This d¢5CTiViOn forms pgrt of ovr awlitor's report. Use of our report This port is made solely the chariry's mtstee4 &% a bly. in XCOrdan with Pan 4 of the Ch111¢5 (Accounts and Reports) Regulations 2008. Our audit w(rk has bn undenaken so we mighi statr w the Chl,S trusiees those mailers we are required to Sla io them in an audiior's reFon and for no other purFw. To the fullest exnI perrnitted by law. we do no( accq)t or Urne respoTLsibiliry lo anyone h¢r than the charity and the charity's miees as a by, for our audit worL for this Tepoo or for the opioion5 we have fornDJ. Hillier HopkiDS LLP Chanered Accounrants Statuiory Auditor Radius House 51 Clarettdon Road Waiford Hertfordshire WD17 IHP 7th December 2021 2tr21 HilllerHopku LLP is eligible io actas auditor in lern ofseciion 1212 of the CompaniesAct 2006.
THE ROBERT MCALPINE FOiiNDATION STATEMENT OF FINANCIAL AcnvfnFS For the year ended 31 March 2021 No General Funds 2021 Generaj Funds 2020 Donations Invesimet2ts Other incoming reSoUT- exchange profivooss) I,0 612,479 134,022) 90,911 734,008 1,661 Totsl 678,457 826,580 EXPENDITURE ON.. Raising funds- invesuneni managetnent fees Unrecovered overseas iaxatio Charitsble aciivities- Granis authorised Audiiors, remuneration 28,378 30,834 56,509 645,6CKI 3,3(A) 632,080 3,300 Total 721J43 722,723 NET (LOSS) I INCOME FOR THE YEAR (42.886) 103,857 OTHER RECOGNISED GAINS AND LOSSES Gains l (L0C&) on tnvestments 3,819.700 (3.337.384) NEf MOVEMEKf IN FUNDS 3,77A814 (3.233,527) T(yfAL FUNDS BROUGKf EORWARD l April 15,441715 18,676,242 TiyfAL FUNDS CARIIIED FORWARD 31 March 19219529 15,442,715
THE ROBERT MCALPINE FOUNDATION BALANCE SHE 31 MARCH 2021 No 20 FIXED ASSETS ITJve5ttnents'. Listed Unli5t¢d 17.389,949 7,5CKI 13.815,175 225,000 17397.449 14,040.175 CURRE ASSFrs'. Short-tertn deEX)Sits Cash at bank Cgsh with brokers and agents lo,(7 1.174,952 680,359 10,907 1.304,310 148,031 1,865.408 1,463248 Aecruais Grants payable 3,420 39.908 3.3 57.408 43,328 60.708 NET CURRENf ASSEJ3 1,822.080 1.402540 TOTAL ASSETS LESS CURR LIABILrrIES 19.219529 15.442.715 REPRESE) BY: General Funds Unrestrictrd 19.219529 15.442.715 19219J29 15.442.715 Approved by the Trusfees o 24 November 2021 Mr Cullllm McAipine Chairman io
THE ROBERT MCALPINE FOUNDATION CASHFLOW STATEMENT AS AT 31 MARCH 2021 2020 Cash flow (rom operating ¥Jctivities Ne( movemefti in funds Inest ceiVed Dividends recexved Dectease l (increase) in debio (Decrea> l increase in accruats & creditors (Gains) I losses on InvesenL8 3,T16,814 12.0851 (610.3941 {3.233.527) (5.570) (728,438) (17380) (3,819,700) (63.330) 3,337,384 Net flow from operating activities 1671744) (693,481) flow from ittvesting activities Payments to acquire invesimenis Receipts from sal&8 of itsvenn(S tnteiest teceived Dtvidends received (2JIO.974) 2,973.399 2,085 610.394 (2,429,310) 2,170,290 5,570 728.438 Net cash Ilow trom inYes(ing activitie5 1,074JYM 474.988 Net increasel Ideere*sel ID eash and easb equivaknts 401160 (218.493) Cash and cash equivalents at l April 1.463.248 1.681,741 C&sh attd cL8b equivalents at 31 Marth I808 IA61248 li
THE ROBERT MCALPINE FOUNDATION NOTES TO THE FINANCIAL STATEMENfS Year ended 31 Marcb 2021 AccouNrtNG ff)LIC (a) Accouniing conveniion The addre&s of the regiswed office is given in the clwiiy inforni100 on page 2 of these financial siaiements. The nure of the charity's oatiOnS gnd principal xtivities are w pmide grants w irwjividuals for education purposes. The charity constitu a blIC nefIt entkty as defined by FRS 102. The fxnancial ststements have been prepared with rhe Charities SORP {FRS 1021 Accounting and Reponing by Chari(ies: stament ofReconllnellded Practice applicable (o chariiies prepatin8 their accounts in accordance with the Financial Rew>rting Standard applicable in the UK #nd Republic of Ireland (FRS 102) ( effective l January 2019), the Financial Reporting Standard applieable in the United Kingdom and Republic of Ireland IFRS 102) and the Ctrtsriiies ACL 2011. The financial stsiements are prepared on a going concern basis under the his1oric cost Conventio QdIfIed to include cenain iiems ai fair value. The financial ststements are presen(ed in sierling W"Ch ss the functional currency ol the charity. The si8nificant accounting plicies applied in the preparation of thC fmallcial ststcments arE set out below. These policies have been consienily applied all years presend unless otherwise stated. (b) Funds SEruc(ure General income funds compnse those funds which the trustts are free to use for any purp¢)se in furth¢ranc¢ of the ¢haritable objectives. All (unds are general fund5. (r) Income rccognition All income is To£nI$¢d once th¢ chatity has entstl¢ment lo the income, the¥e is sufficient certainty or receipi and so it is probable that the income will be received. and the arnount of income recetvable m¢8surel Teliably. Donations are recognised wkn they have Fen communxcateA ill writing with noiificauon of both the amount and selllenwii dale. In the eveni a donion is subject conditions that require a level of p¢rformancc before the chariiy is en[1d to the funds the income is deferred and not recognised until either those condition5 are fully mel, or the fuifilmeni of those condiiions is wholly within ihe control of the charity and it ts probable that those conditions will be fulfilled in the reponing wicd. Investment incoll is recogni5 on a received basik Inleresi on bank and sh(fft rm deposits is r¢cogDis¢d on the accrua]5 basis. {d) Resources ex[nded All expenditure is accounted for on an CnlS b&8is and has tttn cl&8sified under headings aggregate all costs relad io ihe caiegory. Where costs call#oi be direcdy aitribjted to particulat headings they have be¢D ailwated to activiiies on a basis consisteni with use of the oUrCeS. Sup5YM Costs ate those costs incurred directly in support of expendiiure on the objects of the chariÈy. Governance costs e those incutred in connection with administration of the charity and compliance with consiituiional aÉ)d ststuw tO4uiremen Grants payable ate charged in the period in which they are awarded. (¢) R¢alis¢d and unreali gaills All gains and losses are taken to the ststrmeni orrinancial 1VitieS as they arise. Realised gains and 10$5&5 on Invesen are calculatrd 18 the difference betw1 sales prLKeeds and OnIng m&rket value. Unrealised gains and losses are calculated as the difference trthveen the rnarkei value ai the yeaT end and wing n)atkd value. Realised and unrealised gains are noi separad in the Stai¢meni of Finan¢ial A¢tiviues. 12
THE ROBERT MeALPINE FOUNDATION (fj Inyesttnertts The investment ptsrttolio is valued at market value at the balanc¢ sheet date. Listed investmen(s are taken at rnid arkct price5 quoted Im a reeognised si(k exchange and unliswt investments ate sratrd ai Trusiees. valuation. Gains 4Dd losses on revaluation w¢ taken to the Stst¢m¢ni of FanCial Ac¢iviiies. Debtors receivable within one year Trad¢ and other debtOT5 ar¢ rewgnis¢d w th¢ 5ettlcmcni amouni afw any trJe diOnI offejrd. Prepayments are valued at the wnount prepaid nel of any trade discounts due. (h) Cash at Bank and in hand Cash ai bank and in hand includ¢s cash and short tem highly liquid iovesio)ellts with a shon maturiiy of three months or I¢s5 from the datr of acquisition or nIng of the dwii or similar xcounL Liabiliues and provisions Liabiliiies are tecognised when there is an Obliglon at the Balance s1C[de &s a result of a p&$( eyetti, li is probable thai a transfer of 00M1¢ benefii will be required in seidemenu and the amouni of the seitlement can be estirnaled reliably. Liabilities are recognised ai the amount thai the charity aniiciwes il will pay to settle the debt or the atsunt it has received as advanced paymen for ihe goc¢Js or servitts li musi provide. Pmvisions ate measured ai the best esfima(e of the amounts required w seiile the obligaiion. Where the effeci olthe lime value of money is material, Ihe provision is based on the preseni value of th¢)se amounts. discountrd at the Pre- discouni ra thai reflecis the risks specific io the liabiliiy. The unwiDding of the dis¢ount is recognised within interest payable and similar charges. ti) Financi iosmmnents The charity only has financial a5ser5 and financial liabilitie5 of a kiTrJ that qualify as basic financial insiruments. Basic rinancial insirumeThis are iniiially wecognised ar wansaciion value and subsequendy measured at their seulement value with the exception of bank loans which are subsequendy nieawrd at amortised cost using the elfeciive interesi method. (k) For¢ign Curr¢n¢ies Transactions in foreigrt currencies are recorded usints the rnte of exchange ruling At the date of the trdnsaction. Monetary assets and liabiliiies denominaied in foreign CUTncleS are translated using (he rate of exchange ruling at the balanee sheet date a[j the gains or 10&ses on translation are included under other incoming regourecs. The tntte1 consider the following key accourtlingiudgements or estimates that have a material impact on the finaneia] statements.. Unlisted inv&%tmeB15- The valuation of unlT5ted inv&stllTrts aTE valu¢d by th¢ fund managers based on quoied matht values of similar COTnpanies. INVESTMENf COmE 2021 2020 Listed inveStht income Bank inieresi 610.394 2.085 728.438 5J70 612.479 734,LM)8 13
THE ROBERT MCALPINE FOUNDATION GRANfs AufHORISED 2020 Resolved by the Trusiees to E¢ allwated during the year ended 31 March Less prior year allocaiions wriiwi back 645,(lJO 632.080 645,f(K) 632.080 The policy of the Trusw is 10 make grants to charitable insuiuuons of amounts from £5,CKK) upwards in the specific categories of ObJIly¢S whi¢h they support. A lisi of grants is pr(Kluced separately. AifDITORS REMUNERATION The auditors ternuneralion amounts lo an audit fre of £3,420 (2020- £3,3). Lis*d Unlistrd l April 20 Additions Disposals Nei unrealised gains InvlMen(S listing In the year 13,815,175 2.510,974 (1.843.879) 2.907.679 225.(LK) 14.040.175 2,510,974 (1.843.879) 2,690,179 (217SW) 31 March 2021 . rnarkd value 17J89,949 7500 17,397,449 Cost 31 h(arch 2021 14.279.(M17 73.248 14.352.255 2020 13.611.912 73248 13,865.1 The following holding compTi5ed more than 5% of th¢ 0110 valu 2021 Rio Tinio 1,098,847 UK holdings comprised £10.171.394 (2020: £7.018J20) and ovetseas holdings r1226.055 (2020: ri.021,655). 14
THE ROBERT MCALPINE FOUNDATION DEBTORS 2021 21720 Due within OE2e year. Due frorn broker5 and agents Tax recoyerable FINANCIAL INSTrUMENTS The carrying amounts of the rhatiry's [anCIal in5trum¢nts are as follows: 31 March 31 March 2020 Tothl FinancialAssels Measured fair value through inc Listed and ut)lisied invesunents 17.397.449 14.(h40.175 Measured * amortised COSL 1.865,408 1.463,248 19,262,857 15503.423 Findncial IAtibili¢ies Me&sured ai amortised cosi: Creditors 43.328 (¥.708 43,328 60.708 MOVEM IN FUNDS Unrestricted fvrtds 2021 Ai i April 2020 15.442.715 678.457 (721,343) 3,819,71XI Incgming r&sourcc5 Resources expended Other recognised gaiL% and lo Ai 31 Match 22[ 19219.529 15
, YHE ROBERT MCALPINK FOUNDATION io. ANALYSIS OF NET ASSEtS BEfwEEN FUNDS Utuastricted FLsnds Fix¢d ass¢t invesime4Lts CuryeDt assets Current liabilities 17.397.449 1.865,408 (43.328) At31 MarchW21 19.219.529 INFORMATION REGARDING IRusfEES AND EPPLOYEEs No Temuneration w&$ paid to Trustees thuing the ye*r. neither w&$ any Teimimusement of expenw Jnad¢ (2020.. Nil). The Foulldation had no employees during the year (2020: Nil). 12. RELATED PARTY IKINSAcfIoNS There were no Telated party ttansxiioL% during the peri1 (2(r2tr. £nil). 16