THE ROBERT MCALPINE FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ch4rity R*gi$tr*tion No 226646 THE ROBERT M¢ALPINE FOUNDATION CONTENTS Page Reference and Adniini5trdtive Details Report of the Tnjsrees Audit Report Stai¢in¢t)i of Financial Aciiviiies &8 Balance Sheet 10 C&shflow Statejtteni Noies to the Financial Statements 12-16 .THE kQBERT MCALPINE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS Trustees C McAlpine (Chair) A N R McAlpine (Ce45ed 17 JanuAry 2025) The Hon. D M M¢Alpine G MeAlplne Secretary Mi55 G Bush Charity number 226646 Regi$tered oftlce Concept House Home Park Mlll Llnk Klrtgs Langley WD4 8UD Audltor Hllller Hopklns LLP Sl Clarendon Road Watford Hert5 WD17 IHP Bankers Lloyds TSB B*nk PIC 11-15 Monument Street ndo EC3V 9JA THE ROBERT MCALPINE FOUNDATION REPORT OF THE TRUSTEES The Trustee5 pres¢nt tlie Aniiual Report and audited Fii)ancial Stalenients for tlie ye￿. ended 31 Marcli 2025. Statement of RecOm￿ended Practlce The accnuiii.4 liave heeii preEeJited in accnrdaiice will) the reqiiiTeinent8 nf the statel￿Ent of RecoTriineiided Practice, SORP IFRS 1021, as required by tl)e 2011 Chai'ilies Aet. Structure Governance and Management Thc Foiiiidalion waq forined as a Charity ujider a trust deed dated 28 Mai¢h 1963 ai)d exibls lo apply ils ftind5 alld iiieoine for ihe beiiefit ofsu¢h chariiable purposLS oi chaiildble iiisliluliviib d5 ihc TTu&ILLb 111 their dlbcietion (letCTmillC. Objectives and Actlvitles for the Publlc Benellt The Foundatioii operates viniially exclusively by Inaking identified benefii grants (o carefully selecied ch#riiable oi'ganisations working in Ihe sectoi's which the Foui)dation particularly wishes io suppoil. Achievement aThd Performance Total iiicoille froin incoiniiig resources iii Ilie yeai. was £1,123,599 12024.. £971,301). Total IEsources expended, coinpi-isii)g charittjblc cxpciiditurc. amountcd to £818,285 {2024.. £755,430). Icaviiig a net gail) oli iiicomiiig r&%oiiircs (before gains) for Ihc ycar ainoui)ting to £305,31412024.. £215,871 }. Total ii)vc%tiMciit 10%8c% wcrc £638,19712024.. gains of £2,781,130) including unTcaliscd gairts and losscs arising from changcs in valuc of invc8tillcnt%. Trustees The TrLlStees of the Foundation throughout the year were.. C MIAlI)ine (Cliairl Thc Hon. D M McAlpine G McAlpine A N R McAlpine ceased to be a triisiee 011 17 January 2025. The t)ower to appoiiit new or additional trustees is vested in the Trustees. The Ti'ustees meet annually ai)d deeisions regardilig gi'ant-making arc made at that meeting. Reserve5 Policy The Tnislees, policy is designed lo build up reserves ihroLiuh capital growih raihei. Ihan accuinulation of incojne, which is used io Ji)eet the Truslees, staled policy on giving gJ?nls for chai'ilable PLirpos¢s. The Trustees, polkcy is lo aijn lo hold in cash irserve of al least two yeai's, worth ofgrants and Ilie remaining reserves are lo be held as inveslmenls in order lo geiierale incollie. Hi51orically. total gjznls paid in a year range belweeji Iiair and Iliree quarters of a inillion pounds. Any surplus fiinds genei'aied are 11sed lo pay oiit additional gi'anls or scnl lo bi'okci's for investment. Ai thc year end, easl) 15 £1,818,059 aiid total reserves ainount to £24,546,858 boili of ivliich arc in line iviili tlie Tn15tees' policy. Invc5tment Policy The Tnisiees. policy is designed lo achieve mediLlllI tetm incLt45e in capilal value by COll5Ldeird 51ock seleclion. and io generale a level of inveslmenl incoiiie enk)bling Il)e Foiind41ion io meel the cl)arilAble objeciives indicated above. Tlie inveslinenl of funds i5 al Ilie discretion of the Trustees. Plans for the futurc Tlie Trustees aim to rnaintain th¢ polieics and lev¢1 of i¢tivity which hav¢ T¢5ult¢d in tlie grnnts payable in recent years. .THE I£OBERT MeALPINE FOUNDATION REPORT OF THE TRUSTEES Risk Managemeni The Tivstees roalisc tl)at the Fouiidation is exposed io the nomial risks, ond guard against Ilien). Prlncip41 rl$k$ iintÈrt#lmtlè The Trustee's deein there lo be ihire prineipal risks that the FouE)dation is exposed lo. These are.. dcvaluaiion of ii)VCSlinei)Is reducing loiig lei)ii iiicon)c,' dcvaluatioii of ovcrscas inveslinents a result oladverse foreigi) exchange iatc Inovcinciils afyeciing boih capital retui'ns and in¢oii)e aiid- falliiig iiiteresi rates rcducing inveslineiit gains 01) cash balaiices. Thcsc risks are Initigated aiid Inai)agcd by linking grants to ihe iiicoine received. so that if ii)coine reduces such that the Trusiees cannot sustain the 5aiiie level of graiits, the Foundaiion w(Juld reduce the grai)ts given oul. Bccause Ihe majority of ihe Fouiiddtion's grants are Jiot ongoing coinmitmenls, Il)e Trustee's are cojifidenl (l)ey can inandge Ih¢se risks effectively. Criteria or measures to assess suceess in the year Tl)e Tiuslees measure success oil the ability of the Foundalioii to Inaintaii) th¢ level of grants by way of iilVCStmcnt incoinelretiiriis on an aniiual basis. Summary of maln Aehieyements, performance hgfiinst objectiyes Budgetcd inconic and giallt5 aie measured against actual figuirs on an annual basis. Details of Key Performanee Indlcators The Trusiees, do nor use key performance indieaiors. PrincipAI funding sources mie Foundatioii's priiicipal fundin8 55 sourced froin investment inLome, capital retui'ns on investTnenlS held and donations from trusts. Uslb of vOlu￿tterS The Foundation doe5 noi use voliinteei's. Coniiected org4ni5*1ioRs gnd r¢l#tod pArtlts Tlie charily does not li'ade wilh any connected organisalions OL. relaied parties. Slgn n b¢hAlf f the Trustces Mi. CiilluIn McAlpiiie Cliainnaii Coiicepi Hoiise, Honi¢ Park Mill Link, ICiii¥s LAngley. WD4 8UD r 2025 THE ROBERT MCALPINE FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITJES YeAr ended 31 Mareh 2025 Tlie Irusiees al'e respoiisible foi- picpariiig the Ti'ustces. Rcport and the financial slatciiiciits ii) a¢¢ordan¢e willi applicable law. The Trustees present Iheir report and tl)e auditcd fLJiaiicial 5tateinciits of tlie eliarily for thc ycai. cndcd J l Mairl) 2025. The trusiees have adopied Ilie provisions of Ilie Siatenitni of Recoilln)eiided Praciice ISORP) 'Aceoiiiiting and Reponitig by Cllarilies" (FRS 102) in prepariilg the ai)niial report and finaiitial statements of Ilie chai'iiy. The law applicable lo charities in Englaiid & Wales requires the trustees to prepare fJiiaJicial staleiiiciits for each riiiaiicial year whicli give a true ai)d fail. view of the slate of affairs of Ihc charity alid of the incoiniijg I'csoiirccs aiid applicalioii of rcsouire5 of the cliarity for that period. In pirpariiig these fii)ancial stateinents, the (rusleeB are irquired lo.. sele¢t siiitable accounting policies aiid apply them ¢0ilSlSteLiIIy', observe tlie methods and prtnciples of the Charities SORP. Inakc judgenici)Is aiid ¢s(iinaieq whicl) arc reasoiiable aiid prudciii. siaie wheil)ei applicable accouiilii)g slaLidaL'ds have beeji followed, subjeci to ai)y Inaiei'ial depai'lul'es disclosed aiid prepaTC the finallcial 5taleineii15 on the goiiig concem basi5 unles5 It Is inappropi'iate to pirsLime that Ihe chaTIIy will conlinue in operation. The Ti'ustees are responsible for keeping accoiinting Tecord5 that disclose with reasoiiable acciiracy al any liime ihe rLiianLial po8jtion of the Lharity and enable them to ensLllf that the financial statements coinply witli the Chariti&s Act 2011, (the Charity (Accounts Report$l Regulations 20081 and Trust Deed. They are also re$poiisible foi. safegiiaiding Ilie assets of the ¢hai'ity and heiice foi. takinR reasonable steps for the preveiitioi) and detection of fraud and other irregulai'iiies. In so fir as Ilie trustees are aware.. tliere 15 no iElevant audit infoimatioii of which Il)e chai'itable Lharity's auditoi. is unaware, ai)d; the irustees have taken all the sreps that they oughi to have iaken to make theinselves awai'e of aiiy relevanl audii ii)foi-mation Aiid 10 esidblish ihat tlie audiior is aware of Ihai informaiion. Si¥ii¢d on b Aifof tht Trustccs Mr CLIIILiin McAlpine Chaimian Concept HOLISC, HoFne Pai.k Mill Link. Kin85 Langley, WD4 8UD 2L 2025 .THE MnBERT McALpJf4E FOUNDATION INDEPENDEP4T AUDJTOR'S REPORT TO THE TRUSTEES OF THE ROBERT MCALPINE FOUNDATION Opirtion Wc 118vc audilcd ihc fiiian¢ial statcnients of Thc Roberi McAlpii)e Foui)dation (the 'ehari(y'} for Ilie year ejided 31 March 2025 ivliicl) coniprise the Stateiiiciit of Fiiiancial Acliviiies. Il)e Balaiice Slieet. the c9Éh flow aiid the Telaled notes to thc fiiiancial staicineiiis. includiiig a suinii)ary of sigiiificant accoui)tiiig policies. Thc fiiiancial reporiiiig fraiii¢wark that has bcci) applicd in iheir preparation is applicable law and United Kiiigdoiii Accounting Standards, ii)cludiiig Fii)ancial Rcpoi'ling Standard 102 Thc FiNioiicial Rei)oi'lÈiiAr SÉoiidui.d oppliLable lit Élig UK aiid Rcpubli6 (pf liel(iii(I Iuiiited Kingdoiii Ciciicially Accepted Accountiiig Pi'acticel. IE) our opii)ion the fiiian¢ial 8latemeiils'. give a ti'ue and fair vicw of thc state ofthe chariiy's affairs as at 31 Mairh 2025, and of its iiicoiniiig re5011r¢es and application of resources, for thc ycar ihcn ei)ded. have beeii properly prepared in a¢coi'daii¢e with United Kiiigdoin Generally Acccpted Accouiiting Practice,. alid have bccii prepared iii accordan¢e with the requii'en)enls of the Chai'ities Act 2011. Basls for oplnlon We coiiducted oui. audit iii accordaiice with liilematioiial Standard5 011 Auditing {UKI {ISAs (UKI) aiid Applieable law. Our respoi)sibilities ui)dei' those 5taiidards are fuiiher described the Auditor's respon8ibilitlC5 for the audit of the rii)ai)¢ial slatenieiits scclioii of oui. i-epom. We are indcpeiident of thc chaiily in a¢coi'dan¢e with the ethical requireinents Il)at are relcvant to oiir audit of the financial stat¢mcnts iii thc UK, in¢liiding Ihc FRC'S Ethi¢al Siandai'd. and i¥¢ hav¢ ￿lfIlled our otlier cthical rc5ponsibilitics in accordance with the5c rcquircmenis. We believe that the audii evidence we have obtaincd 15 sufficient and appiDpriaie io provide a basis for our opinion. ConclM5ions rel8ting to golng eoncern In aLiditlIl8 the flnancial statement5, we have eoi)cluded thai the trustees, use of th¢ ¥tsing LonLeiM basis of accounting ii) Ihe prcparation of the financial 5taleineiits is appiopriate. Based on the work ive have pei'formed. Ive l)ave not idei)tified any maierial uncertaiDties relating lo events oi coiiditions Ilial, ii)dividually OL- LolleLiively, may caEI signifjcaiit doubt on the Lhdrily's ability lo coiilinue as a going CQIILeii) for a pei'iod of at least twelve Inonilis fix>in when the finaiicial S¢ale]￿en1$ al'e aijtlioj'ised foi. issue. Our responsibiliti¢s and the irsponsibililies of the Iruslees with i'¢spect to going concern are described in th¢ relevant section5 of thi& report. Oiher information Tlie other ii)foniiatioi) con)prises Ilie iiiforiiialion included in the Ant)ual report oilier ihan the fijiaiicsal siaieinenis and oiir Auditor's rcport tliei'eon. The irlisiees are iEsponsible for ihe oil)er infoimaiion coiilained ivithiii Ihe Annual iepori. Our opijiioii 011 the fiiian¢ic11 sialemcnls docs nol covcr the oihcr ii)foi'inalion and. exc¢pt to thc CKlcnl olheiwise cxplicitly stated iii our report. we do not ¢xpr¢ss any form of assiii'ancc concliision tliereon. Our TC5ponsibilily is to read tlie othej. ijifoi'inalion and, in doing 50, consider whether the other infoTmation is m1( iei'ially inconsistent witli Il)e rinaniial slatemejits oi. our knowledge obtained in tlie coiii'se of Ilie aiidit. or otherwise appeal'.% lo be mal¢rially Inisslai¢d. If we idcjitify sucli IDateii equlvglent5 At 31 March 1018.059 1,622,031 THE IIQBERT M¢ALPINE FOUNDATION r4oTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2025 ACCOUNTING POLICIES (a) Ac¢oui)tiiig coiivcntion The address of the rcgistcrcd officc 15 givcii in thc cliarity iiiformation on page 2 of tl)cse fiiiat)eial sialeiiieiils. Tl)¢ ilaiurc of the cliariiy's operations aiid priiicipal aciiviiies are to provide giiiils to individua15 for educaiioi) purposes. The charity constitutes a public bciicfit eiitity as dcfii)ed by FRS 102. The finai)cial siateineiils have been prepared wilh tlic Chai'itics SORP IFRS 1021 Accouiilii)g #nd Reportii)g by Chai'iiies.. Staleniejit of Recoininciidcd Pi'aclic¢ applicable to charilic% prcpai'ii)g their accounls iii accordaiice i¥ith ihe fiiiancial Reportii)g Standard applicable iii the UK ai?d Rcpublic of Irelaiid {FRS 1021 l effcctivc l Jaiiuary 2019}. the Fii)aiicial Reporting Siaiidard applicable in Ilie Uiiilcd Kii)gdoin ai)d Republi¢ of Ir¢land IFRS 102} aiid thc Charitics Act 2011. The finaiicial 5talcmeiits are pi¢paied on a gvii)g concern basi.% uiid¢r the liistorical cost convcnlioll. Tnodified to include ccrtain itcms at fair value. Thc finaiicial stalemcnis arc prcseiltcd iii stcrling whi¢h is th¢ functional currency of Il)e chai'ity. Thc significarti accoui)ling policies applied ii) the PT¢paration of thesc financial statements ai"e set out below. These poIicic5 have been consisienily applied io all ycars presciited unless oih¢iivise statcd. (b) Funds Structure General income fuiids Comprise those funds wl)kcl) the irnsiees are free lo use for any purpose iii fuTthcrance of the ¢harilabl¢ objectives. All fuiids are general funds. (cl InL01￿C reLogniiion All ii)come is i'ecogiiised oiire the charity has eniiilemenr io the income, rhere is s￿￿iCIent certainty or reLeipl bu LI is probable that the iiicome will be received. and Ihc amoLint of in¢ome receivable Can bc measured reliably. Doiiations are wcogni.%¢d whcn they havc bcen communicated in wririiig wilh noiification of both the amoui)t and settleinent date. Iii the ev¢nt that a doiiatioii is subject lo condiiions ihat require a level of perforinaiice befoie the eharity is eniitled lo the funds. the iiicoine is defcJTed and not IELogiiised uniil eiiliei. Ihose conditions ale fully met, or the fulfilineiit of tl)ose condiiions is wholly within the control of the Lhai'ity and il is probable thai tl)o&e Loiiditioiis will be fuifillcd in tlie reporting i)eriod. Investinent incoine is re¢ognised on a received basis. Interest on bank and sliort ierin deposits is recognised on the acci'uals basis. Id) Resources expended All eKpendiliire is accout)led foi. oil an accli￿1$ basis aiid has been classified undei. Iieading5 1hal aggTegaie all costs Telaled lo 11)e calegory. Wl)ere costs caiinot be diiEcily alti'ibvled lo parlicular headii)gs ihey l)ave been allocaled lo aclivities on a basis consislenl willi L15e of Ihe resoliires. Support costs al'e Il)ose ¢osls Ll)¢iii'i'ed dirccily ii) siipporl or cxpcJidiliir¢ on Ihc objects of Ilie cliarity. Governaiice ¢osls al'e Il)ose incurred in coiineclion willi adiiiinislralion of tlie cliai'ily and ¢on)pliaiic¢ willi ¢onslilutiot)al and statiilory reqiiireinenls. Grants Pdyable are ¢liaYgcd in Ilie yei'iod in wliicli Iliey are aivai'ded. le) R¢alised and unredlised ¥ains All kjains aiid losses are taken lo the slateiilenl orrijiancial aclivilies as Iliey arise. Realised gains and10sses oi) investinenls are calculaled as ilie differejice belweeji sale5 proceed5 ajid opeiiing iiiai'ket value. Uni-ealised gains and losses ale calclilaled as Ihc di￿erenCe b¢lwc¢n tl)¢ InaTkcl valiie al Ihc ycai. cnd and openiiig iiiarkel value. Rcaliscd aiid iit)r¢aliscd gail)5 are not Scpciraled in tlie Sioteinciil of Fiiiancial Ac¢ivilies. 12 THE ROBERT MCALPINK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 M&r¢h 2025 (o ljivestm¢iils Tlie investment portfolio is valued at imarket value at tl)e balaiice sheet dale. Listed investinenls air taken at Inid market prices quoted on a recogiiiscd .%tock excliange alld ui)lisled iiive$iments arc.8iated at Trustecs, valiiation. Gaiiis and losses on revaluation are taken to tl)e Siatcinciit of Fsiiaiicial Activitics. (gl Debiors receivable withiii one yeai. Tl'ade ai)d other debiors are recogiiiscd al Ilie scttlcJiien( aii)ouiit after at)y Irade discount offered. Prepayineiils air valucd the amoiiiir prepaid iiet of any 112dc discoLlllts duc. {h} Cash at Baiik and li) hand Ca511 al bank and in hand inclLides cash and shoL"I term highly liqiiid ii)vestinen¢s with a short matLirity of thTce tnonths OT le55 from Ihc date of acquisition or opening of Ihc deposil oi. similar account. l.iabiliiies and provisions Liabilities aiE IEcogni5ed when thcrc is ali obligation ai the Balance sheei date as a result of a pasi evejil, il is probable that a trajisfcr of cconomic benefit will be requii'ed in setilement. and the amoiii)t of the seiilemenl can be estimated reliably. Liabilitie5 are reco811ised at the ainouilt ihai the chai'ity ai11icipales it will pay to settle the debi oj. the aiiiouiil il has received as advaiiced payincnt5 for the goods 01. services it must provide. Provisions are Ineasiii'ed al the best estiinate ofthe amouiits requiiEd to settle the obligation. WheTC the effect vf the lime value of money is material, tlie PI'OVi5ion is based on the pi'esent voliic of thosc amount￿, discounted at tlie pre-tax di5COLlrtt raie rhal reflects Ihc i'i8ks specific lo Ilie liability. The unwinding of the discount IS TeLogi)ised within iiitere5t payable and 5imilai' Lharges. (il Financial instrumei)ts The chai'ity only has fii)ancial assets and financial liabilities of a kiiid that qualify a5 basic financial instruments. BASIL fii)ancial insti'umeiits are initially recogi)ised al ti'ansaction value and subseqiitriitly measui'ed al Ilieii. seiilem¢i)t valiie with the exception of bank loans which are subsequently measured al amoi1ised cost U5iJig ihe effeclivc intei'est Inethod. (k} Foi'eign Currencies TraJisaLtions in foreign ¢uii'cncies air Jycorded usijig the rate of exchange rLilirtg at ¢he date of Ihe traiisaction. Monetary a8s¢ts and liabilities denominated in foreign CUTTencies &re translated using the l'ate of exchange iiiling at the balance sheet date and the gains or losses on translation are included under other incoming resoiir¢es. JUDGEMENTS AND KCY SOURCCS OF ESTIMATION UNCERTAINTY T]ie Ii'uslees consider Ihe following lo be key ac¢ounliJig judgement5 or esiiinaies thai have a iijaierial in)paci on the rinancial slalenients.. Unlisted investinents- The valuation of iiiilistcd investmcnls air valued by Ilie fLiiid Inaiiagers based on qiioted mork¢l valiies of sii11i18r coiiipanies. INVESTMENT INCOME Lisied investineni incoine Bank interest 873.069 06.934 809,594 62,554 940,603 872,148 13 .THE RQBERT MCALPINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YeAr ended 31 M4rch 2025 GRANTS AUTHORISED 20 2024 Resolved by the Trustees to be allocated during the year ended 31 Ma￿h 739,400 648,900 The policy of the Trustees is to Inake gi'aiits to chai'itabl¢ i11stitutitsns of amounts typically from £5,000 iipw&rd5 Iti the specific categories of objectives which Ihcy support. A list of grant5 15 produced separately. AUDITORS REMUNERATtON The 8uditors remuL)eration aniounts to an audit fee of £6,030 (2024 . £7,230). tNVESTMENTS Listed Lilistcd Total l April 2024 Additions Dispo$JIs Nel umralised gains Lnvesthients lisiin8 li) Ihe year 23,435,131 2,586,242 (1,987,156) (1.145,057) 23,435,131 2,586.242 (1,987,156) (1.545,057) 31 Mar¢h 2025 . market Yalue 22,889,160 22,889,160 Cost ai 31 March 2025 17.350,169 17,350.169 2024 16,751.083 16,751,083 There are no holdings th¥1 compi'ise inore than SOA of the portfolio value UK holdings coinprised £8,775,37012024= £10.274.511) and overseas holdings £14,113,790 (2024.. £13,160,620). DEBTORS 2025 2024 Due within one year.. Miscellaneous debiors 22,993 22,717 14 THE ROBERT MeALPINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 21125 FfNANCIAL INSTRUMENTS Thc carying amounts of the charity's fin8ncial instruments 4T¢ a5 follows.. 31 Mareh 31 March 2025 2024 FiiiaiicialAssels Measured at fair value through rtet income.. Listed and unlisted hnvcstments 22,889,160 23,435,131 Measured at g4mortised ¢0st'. Cash Debtor5 1,818,059 1,622.031 22.993 22.717 24,730,212 25,079,879 FiiiaiicialLiabililies Measured at amortised cost.. CTeditors 183.354 200.138 MOVEMENT IN FUNDS Uiirestri¢t¢d funds 2025 Ai l April 2024 Incoming resources Resoul'ees expei)ded Othei. It¢O8rtised gains and losses 24,879,741 1,123,599 1818,285} 1638.197) Ai 31 March 2025 24,546,858 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Iricted Funds Fixed asset investinents Current assets Current liabilities 22,889.160 1,841,052 {183,3541 At 31 March 2025 24.546.858 15 ,THE. RDBERT M¢ALPINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 M4r¢h 2025 INFORMATION REGARDING TRUSTEES AND EMPLOYEES No remuji￿atIOn was paid to TTUSt¢e5 duriiig th¢ y¢aT, neith¢r was any reimbursement of expenses madc (2024.. Nil). The Foundation had no ¢rnploy¢es duriiig th¢ year12024.. Nil). 12. RELATED PARTY TRANSACTIONS Their were no T¢lated parly trnnsa¢tions during (h¢ P¢Tiod (2024: £Jiil}. 16