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 Tr￿te
Audit Repon
Statemcnl of Financial Activities
&8
Balance Sheet
10
Cash*low S￿emen1
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 HeM￿d
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 I￿nefit grants w carefully 5elec*d charitable
organisations working in the ￿CtOrS whith the Found*ion 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 throug1￿ul 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 d￿lS1onS
regarding gTanl-making are made at me￿iDg.
Re5erYes Policy
The Tfusiees, policy is desig￿1 io build up reser￿ through capltsl growth rather than xcumulauon of income, which
is used (o meei the Tn￿t￿$, statd policy on giving ￿allts for clwitsble pUr￿￿e$.
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￿￿. Histori￿ly. iOta] grants paid in a year range between half
and three quarws of a rnillion rKJtm(ts. Any surplus funds gener*ed *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 i￿re￿ 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¢ T￿Stee& realise that the FOUnd￿lOn is exF￿￿1 to th¢ nornthi risks. and gtwd #gaittsi them.
Prinelpl risks and uh￿ertaInti¢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¢ Found*ion 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 M￿sUre suc¢es% on the ability of the Found￿1￿ to m8iDtsin the level of8fanLS by way of invesiment
incomelreiurns on an atttsyal basts.
Summ4ry of achitvementy performance obje¢tives
Budge￿1 income and graDL% are measured against a¢ll￿ figur￿ on an annual b&%is.
Detsils olKey Perfornw￿e I￿licatorS
The Trwtees, do not ￿ key ￿roMI3￿Ce 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 org9n1￿1OnS or ￿la￿d par(ie5.
Siglled on behalf of the TrusttÉ%
Mr Cullurn McAlpine
Chairtna
24 November 2021
Eaton Court, Maylands Avenue. Hemel Hemps*ad. 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 ￿uS￿eS 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
applic*ion of resoutces of the charity for thaE period ID prepartng financiat ststements. trustees are rcquired
select suitable acc(xthting ￿lICIeS aAd apply them consis*ndy;
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 Th￿tee5 are reswm5ibl¢ for keeping a￿ll￿ting records that dI￿lOSe 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 Ch￿ille5 Act
2011. lthe Charity (Accounts Rel￿s) Regulations 2fX)8) and T￿j￿ 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 Hernps￿ad. 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 Ro￿rt McAlpine Foundation (the 'charity') for the year eDded 31
March 2021 which compTi5e the Ststement of FU￿nCIal 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 b￿Tr applied in their prepardtion is applicable law and Uni*d Kingdorn Accounting Standards.
includÉng Financial Reporting Siandard 102 The FinL7nciul Reporting Standord applicabl¢ in ihe UK ond Republic of
Ireland (Unl￿d 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 PrO￿TlY 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 descritr*d in the Audiior's reswisibilities for the audit of the
fanancÉal 5￿c￿ents 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 ￿atel￿ents 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)prnpri￿e 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 cO￿ern 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&￿n￿l￿ 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 re￿rt other than the financial Sta￿Tne￿iS and
our Auditor's report thercon. The tr￿Slee5 ¥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 st*emcnts thcmselves. If. based on the work w¢ have
perfomied, we conclude that there is a mawiai mis5t*meni 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 ¢c￿unting records. or
we have noi Teceived all the Inforn￿tiOn and explanatio￿ w¢ requir¢ for our audiL
Respo￿]bilItieS of tr
As explained more fully in the I￿$t¢¢s, r¢s￿n$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 S￿￿Ments ihat ate free from Th￿cTIal misststemenL whether due to fraud or error.
In preparing the financial s￿¢ments, the trus*es 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 in￿nd 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
Ma￿rial misstaien]ent, wheihcr due to fraud or error. a￿1 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. Miss￿lemen￿ 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 S￿￿Ments.
Irregulariti&s. including fraud. arc instance5 of non-compliance with laws and regulalions. We design procedures
in liije with our rcspon5ibilitics. outlined akK>ve. ￿ d￿e¢l material missiatrments kn respec( of irregularities.
in¢luding fraud. The exlent to which our pr(￿lUreS are capable of detec(ittg i￿egular￿tieS, including fraud is detailed
below:
We have aSSe￿d 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 I￿Ss￿ent of thc risks of irr¢gulariu¢s:
Any matters we identified having obtained a￿1 r¢vicwed the Chariry's d￿￿Men￿tiOn of their wli¢i&8 and
prweduTCS relaiin• to=
idenulying, evaluating and complying with laws and regul￿10￿$ and wlKther they were aware of #ny
insiances of non-compliance.
deteciing and rcsFonding io the risks of fraud aTrJ whether th¢y hav¢ knowI￿ge 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 ￿tr￿la1 itidic*ors of fraud.
a tesuli of prrKedurA wc considernl the op[￿￿jni￿es and incentives th* may ¢xist within the
organisation foT fraud and identified the grea￿1 ￿tenti￿ for (r￿d. 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 rep￿en￿d a risk of tnaterial
Jni55tatement du¢ to fra￿1.
We also obtained an understanding of the legal alld regul*ory frameworks that the Ct￿rIty opera￿$ in.
focusing on provisions of those laws and regulations that had a dir￿1 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 Sthteu￿nts, including, bui limi￿d to. the Charities Act 2011 aod relevatEt
tax legi51atitsn.

THE ROBERT M￿LPINE 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 s￿￿mentS or non-compliance with regulation. This risk
increases the more that compliaTtce with a law or regulation is ￿MoVed from the events and transaciions
refl￿ted in the financial 5taternents, &$ we will be less likely to 1￿corne aware of instsnces of non-cO￿p1ia￿Ce. The
risk 15 also greater regarding inrgulariti&8 C￿urring due ro fraud rather than error. as fraud involves
intentional coDCealmc￿Q forgery. collusion. omission or miryresenwion.
A funher description of ￿Jr responsibilities for th¢ audit of th¢ financial sta*m¢Dts is I￿ated 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 b￿ly. in XCOrdan￿ with Pan 4 of the Ch￿111¢5 (Accounts and
Reports) Regulations 2008. Our audit w(rk has b￿n undenaken so we mighi statr w the Ch￿l￿,S trusiees those
mailers we are required to Sla￿ io them in an audiior's reFon and for no other purFw. To the fullest ex￿nI 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 b￿y,
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 (L0￿C&) 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
In￿est ￿ceiVed
Dividends recexved
Dectease l (increase) in debio
(Decrea￿> l increase in accruats & creditors
(Gains) I losses on Inves￿enL8
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 itsve￿n￿n(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
I￿808
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 inforni￿100 on page 2 of these financial siaiements. The
n*ure of the charity's o￿atiOnS 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: sta￿ment 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 th￿C fmallcial ststcments arE set out below. These
policies have been consi*enily applied ￿ all years presen*d 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 T￿o£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 F*en communxcateA ill writing with noiificauon of both the amount and
selllenwii dale. In the eveni a don*ion 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 ￿Cn￿lS b&8is and has tttn cl&8sified under headings aggregate all costs
rela￿d 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
Inves￿en￿ are calculatrd 18 the difference betw￿1 sales prLKeeds and O￿nIng 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 separa￿d 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 F￿anCial Ac¢iviiies.
Debtors receivable within one year
Trad¢ and other debtOT5 ar¢ rewgnis¢d w th¢ 5ettlcmcni amouni afw any tr*Je di￿O￿nI 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 Oblig￿lon at the Balance s1￿C[d￿e &s a result of a p&$( eyetti, li is probable
thai a transfer of ￿0￿0M1¢ 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 a￿tsunt 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 CUT￿ncleS 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 tn￿tte1 consider the following key accourtlingiudgements or estimates that have a material impact on the
finaneia] statements..
Unlisted inv&%tmeB15- The valuation of unlT5ted inv&stll￿Trts aTE valu¢d by th¢ fund managers based on quoied matht
values of similar COTnpanies.
INVESTMENf ￿COmE
2021
2020
Listed inveSth￿t 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 ObJ￿Ily¢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
Inv￿lMen(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 2￿2[
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 EP￿PLOYEEs
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 peri￿1 (2(r2tr. £nil).
16