Willlam MacAlister Settlement No. 2 Statement of financial activities For the year ended 31 December 2022 Restticted hinds 2022 Total funds 2022 Tot81 fund5 2021 Note Income from: Investtnents 1,162 1,162 1,496 Total income 1,162 1,162 1,496 Expendilure on: Cliaiitable activities 4,596 4,596 4,447 Total expenditure 4,596 4,596 4,447 Net Oosses)/gains on investments (7,884) (7,884) 6,'111 Net movement In funds (11,318) (11,318) 3,160 Rgconciliatlon of funds: Total Funds brouglit foiw2Ld Net movement in ndS 75,853 (11,318) 75,853 (11,318) 72,693 3,160 Total funds carrled forward 64,535 64,535 75,853 All amoiints relate to continuous operatiOll5. Tlie Scatement OF financial activities includes all gains and losses Lecognised in the YCAI. Page 6
William MacAlister Settlement No. 2 Balance sheet For the year ended 31 December 2022 2022 2021 Note Fixed assets Inve5tment5 65,735 75,853 65,735 75,853 Crcthtors.. amounts falling due within one year (1,200) Net current liabilities l assets (1,200) Total a55ets less current liabilities 64,535 75,853 Total not assets 64,535 75,853 Charlty funds Rcstrlctcd funds io 64,535 75,853 Unrestricted funds io Total funds 64,535 75,853 Tlie financial statements have been prepared in accordance ivitli tlie provisions of FRS 102 Section IA entities. small Tlie financial statements wete apptoved And authorised Eor i55ue by the Trustee on 25 October 2023 2nd signed on their behalE by: Cleavet (riSte Iton Rankift Tmstees Limited The notes on pagcs 8 to 14 form part OE these financial Statements. Page 7
William MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 General informatlon Villiam MacAli5ter Settlement No. 2 is an uAincorpoi?ted trust. Its principal office is 50 Bedford Srieet, BelFas¢ BT2 7FW and it lias a cliarity nuinbei of 103368. Accounting policles 2.1 Basis of ptepatation of financial statements Tlie financial statements are ptepared on a going concein basis, under tlie l]i5torical cost convention unless otlieThvise noted in the accounung policies below. Tliey have been prepaied in accoldance ivitli applicable laiv and accounting standards issued b}, die Financid Reporting Council, including FRSI 02 'Tl)e Financial Reporting StandaLd Applicable in the UK and Republic of IIel2nd" ("FRSI 02"). and die Statement of Recommended Practice - Accounting and Repoiting by Cliariues, effective l January 2019 'SORP"). Willi2m MacAlister Setdement No. 2 ConStiteS a public benefit entity as deFined by FRS 102. 2.2 Going concern Tlie tLU5tees Iiave Assessed tli%t Wllliam MAcAh'ster Setdemcnt No. 2 lias adequate resouices to meet die ongoing cost5 OF the entity for a minimum of 12 monclis From the date of signing tlie financial statements. Foi this ieason tlie financial statements have been prepared on a going concem basis ivliicli presuines die iealis2tion of assets and liabilitic5 in tlie nolmal course of business. 2.3 Income All income is recognised once die Trust h85 entirlement to die income. it is piob2ble tliat tlie income vill be rcceived and die amount of income receivable can be mcasured ieliably. Investment income is included wlien receivable. Income tax recoveimble in relAtion to investment income is iecognised at die lime the invcstment ncoine is receivable. Page 8
William MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 Accounting poli¢les (continued) 2.4 Expenditure Expenditure is iecogniscd once there is a legal or constructive obh'gation to transfer cconomic bcncfit to a d]ird party, It is probable diat a transfer of economic benefits ivill be Kequiied in setdement and the amount of the oblig2tion CY4n be measured reliably. Expendlture is clg4ssified by activity. Tlie costs OF each activity ate made up OF the total of direct costs and 51iared costs, &ncluding support Costs involved in undertaking each &Ctiviry. Direct costs atttibutable to 2 single activity #re &lloc2ted diIectly to diat activity. Shared costs ivhich contribute to more than one activity and support costs whicli ale not attributable to a singlc Activity ire apportioned benveen diose activiues on a basis consistent witli the use of resources. Central stRFf costs arc allocated on the basis of time spen¢ and depieciation cliaiges allocitcd on tlie poItion of the a5set'5 use. Govetnxnce costs include those costs a550Cillted witli meeting the constitutional and 5tatutO4' requirements of the trust. All expenditure is inclusive of irrecoverable VAT. 2.5 Inve8tment8 Fixed asset investments are a Foim of FinanciAI instrument and are initiall}T recognised at dieir uansacuon cost and 5ub5equendy measured at Fair value at the Balance sheet date, unless the value cannot be meAsuLed reliably in wl]ich case it is measured at cost les5 itnpairment. Investment gains and losses, Ivlietlier Lealised oi unrealised, are combined and presented as 'Gains/(Losses) on investment5, in tlie Statement of financial activities. 2.6 Liabilities and provisions Liabilities aie iecognised ivhen there is an obligfition at the Balance sheet date as a Iesult of a past event, it is probAble that a transfer of economic benefit ivill be required in settlement, and die amount of the 5etdement can be estimated reliably. Liabilities are recognised at die amount that the Trust anticipates it will pay to setde the debt or the amount it has received a5 advanced payments Eoi the goods OI setvices At must PLDvide. Provision5 are measured At the best estimate of the amounts required co settle tlie obligation. Ivliere die effect of die time value OE money is matcrial. the piovision is based on the present value of diose amounts, discounted at tlie pre-tax discount iate that ieflects die risks speciflc to the liability. Tlic univinding of the discount is recognised in the Statement OF [ancIal ictivities as a Finance cost. 2.7 Fund accounting Geneial funds ale uniestricted funds ivliich are available foi use at the discretion of the Trustee in fi)rther2nce of the general objectives of the Tii]st and whicli have not been designRted for otl)er PU0$eS. Restsicted funds are funds which aie to be used in Accotdancc witli specific testrictions iinposed by donors or which Iiave been raised by the Trust for particular purposes. Tlie costs of raising 2nd 4 dmini5tering 5uclI fund5 are cliarged against die specific fund. The lim and use OF e2cli restiACted fund is set out in tlie notes to the financial statements. PaJe 9
William MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 Critical accountlny estimates and areas of judgement Estimates and judgements are required ivhcn applying accounting policies. These axe continually evaluated and aic based on l]istorical eYpeIience and odicr EactoIs, induding Lxpectations OF fuNre events diat are beeVed to be xeasonable under the circumstances. Tlie ttust m%kes estimates and assumptions concerning tlie future, wl]idi can involve a high degree OF judgement or complexity. Tlic resulting accounting estimates WAll, by definition, seldom equal the rel%ted actUl¢ I results. The estimates and assumptions diat Iiave a significant iisk of causing a material adju5ttnent to the cait)Ting amounts of assets and liabilities ivid]in tlie next fin2nciAI )Tear are adth'essed beloiv.. Fair value of investments Uses various valuation tecliniques to decermine tl)e fair value OF financial instruments (wliere ictive market quotes are not available and non-financiil assets. Tl]i5 involves developÉng estimatcs And Assumptions consistent ividi Iiow market partickpants ivould piice dje insrrumcnt. Tlie trustee bases Its assumptions on obseivable dAta as Far as poss&blc but tliis AS not aliva)Ts available. In diat case, manfigement uses die bcst inFoiination available. Estimated fail vAlue5 may VXLY from die acNal prices diat ivould be acliieved in an rin's lengdi transaction at die reporting date. Investment income Restricted fiinds 2022 Total fiiijds 2022 Listed investineThts 1,162 1,162 Total 2022 1,162 1,162 ResttLCted funds 2021 Total fund5 2021 Listed investments 1,496 1,496 Total 2021 1,496 1,496 Page10
William MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 Analysls of expgnditure on charitable activities Summary by fund type Restricted fiinds 2022 Total fiinds 2022 Legal & ProEesSLonal fees Investment expenses Disbursements to beneficiary 2,846 1,041 709 2,846 1,041 709 Total 2022 4,596 4,596 Re5tr1Cted Eunds 2021 Total funds 2021 Legal & Ptofes5ional fees IThvestmcnt expenses Disburscmcnts to beneficiary 2,400 863 2,400 863 1,184 1,184 Total 2021 4,447 4,447 Independent examiner's remuneration 2022 2021 Fee5 payable to the Trust's independent examiner for the independent examination of die Trnst's annual accounts 1,800 600 Trusteeg. romuneratlon expenses and staff costs During tlie year, no Trustees Ieceived any Iemunctation (2021 _ LNIL). During the year. no Tiustees received any benefits in kind (2021- £NIL). During die yeai, no Trustecs received any reimbursement OF expenses (2021 £NIL). During the }Teg4r, the aveLage nuLnber OF persons employed by die Trust ivas NIL (2021-£NIL). As detailed in Note 9, dic TL715tees received Lemuneration for services iendcrcd to the Tiust in d]e cuIient year. P8ge11
Wllllam MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 Flxed asset Investments Listed investments Cost ot valiiation At l JanuaLy 2022 Contributions 75,853 1,162 (3,397) (7,884) Witlidiawals/lees Revaluf4tions At 31 Decembei 2022 65,735 Net book valiie At 31 Decembei 2022 65,735 At 31 December 2021 75,853 Creditors: Amounts falling due wlthin one year 2022 2021 Accruals And defeLred income 1,200 Pffje12
William MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 10. Statement of funds Statement of funds - current year Balance at 31 Gains/ December (Losses) 2022 Balance at I January 2022 Income Expenditure RestrACted fiinds Restticted Funds - all funds 75,853 1,162 (4,596) (7,884) 64,535 statement of funds . prior year Balance at l JaniiAry 2021 Balance at Gains/ 31 Dcceinbei (Losse5) 2021 Income Expenditure Restticted fiind8 Rcstticted Funds - all fund5 72,693 1,496 (4,447) 6,111 75,853 P13
Wllliam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2022 11. Analysis of net assets betwegn funds Analysis of net assets between funds . current year Restricted funds 2022 Total fiinds 2022 Fixed asset investments Creditors due widitn one yeat 65.735 (1,200) 65,735 (1,200) Total 64,535 64,535 Analysis of net assets between funds - prior year Restricted funds 2021 TotAI 2021 Fiycd asset investments 75,853 75,853 Total 75,853 75,853 12. Related party transactlons During tlie yeAr, leg21 Fee5 of £1,140 (2021.. £1,800) Ivere paid to Cleaver Fulton Rankin Limited. Cleaver FultoA Rankin Trustees Litnited is die Administiative Trustee of tlic trust. Page 14