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
(ri￿Ste
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 ConSti￿teS 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
PU￿0$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
be￿eVed 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
P￿￿13

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