Wllllam MacAlister Settlement No. 2 Statement of financial activities For the year ended 31 December 2023 Restticted fiinds 2023 Total fiiiids I'otal Funds 2022 2023 Note Income from: InveslLnent5 803 803 1,162 Total Income 803 803 1,162 Expgndlture on: Clii1ritAble aCtiViUes.' Disbursements ro bcnefLciary Goirernance costs 1,608 3,566 1,608 3,566 710 3.886 Total expendlture 5,174 5,174 4.596 Net gains/O ) on investsnents osses 4,232 4,232 (7,884) Net movement In funds (139) (139) (11,318) Reconcillatlon of funds: Total fiinds brouglit foThvArd Net moi'ement in funds 64,535 (139) 64,535 (139) 75,853 (11,318) Total funds carrlod forward 64,396 64,396 64,535 All ainounts rdate to continiiou5 operations. The Statement of fmancial actllllUe5 indudes all gains and losse5 recogniscd An tlie Jtcar. Page 7 Wllllam MacAllster Settlement No. 2 Balance sheet For the year ended 31 December 2023 2023 2022 Note Flxed assets Inirestments 65,863 64,996 65,863 64.996 Cash at bank And in l)and 334 739 334 739 Creditors: Rinounts falling due ivithin one }'e8r (1,801) (1,200) Net Current Ilabllltles (1,467) (461) Total assets less current Ilabllltles 64,396 64,535 Total net assgts 64,396 64,535 Charlty funds Restricted funds io 64,396 64,535 Unrestricted funds io Total funds 64,396 64,535 Tlie financiAI 5tRtements Iiave been prep%red in accordance ivith tlie provisions of fRS 102 Secuon IA entitie5. small The financial Statements ivere approved and autliorised foI issue b}* tlie Trustee on 29 April 2024 and signcd on tlieir belialf b),= Cleavet F (rrustc on Rankin Triistees Liinited The notes on pages 9 to 15 form part of tliese financial ststements. Page 8 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 Genèral Informatlon lilliam MacAlistei Settleinent No. 2 is an unincorporated trust. Its principal officc is 50 Bedford Street, Bellxst, BT2 7N¥I and it lias a cliArit)' nuinber 01103368. Accountlng pollcles 2.1 Basis of pteparation of financial statements Tlie F￿anCial statements are preE)ALed on a going conccrn bA51s, under tl)e liistorical cost coniientioii unless othcnvi5e noted in tlie accounting policies beloiv. Tlie}' 1181'e beeii prep￿ed in Accordance ivitli pplicable laiv And accounting 5tand8rds issued b), the Financial Reporung Counc￿, including FRS102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" ("FRSI 02"), And tlie StAtement of Recommended PIAcuce - Accounting And Reporung b), Cliarities, effectsiFe l Januar}, 2019 ("SORP') ljlliim M%cAlistei Settleincnt No. 2 consututes a public benefit entitlT As dcfined b)t FRS 102. The financial 5tRtements are presented in Sterling (n. 2.2 Going concem The triistee5 hai'e assessed tli2t Ivilliam MacAb-ster Settlcinent No. 2 lias adcqu%Lte resource5 to meet tlie ongoing costs of the entiry, for A ininiinum of 12 montlis fioin tlie date of %igning tlie fJn¢incial 5tateinents. For this rca50n tlie ftnancial statemcnts IiaiFe been prepared oil a going coiicerii basis ii,l]ich prcsiiines tlie Icalisatioii of assets aiid b-2blliues in thc norinal course OF busincss. 2.3 Income AU income is Iecogmsed once the Trust l)as entidemenr to the Ancomc. it Is probable tliat tlie incoine vlll be received and the amount OF income ieceivable c2n bc measured reliablv. Investment income is included ivl)en receiitable. Incoine tax recoverable in relation to investinent income ts recognised at the timc tlie inve5tmeiJt income is receivable. 2.4 Expenditiite Expenditure is recognised once there is a legal or con5tructiire obh'gAtion to traiisfei econotnic bciicfit to third partii it is probable tliat a trAnsfcr ol cconoinic benefits ivill be requiied iii settlcinent 211d tlie inount of Ilie obligauon can be tneasured reh'abl),. ENpencliture is classificd b), actllTlry'. I'lie costs of each aCtiipit)T are made lip of tlie tot%1 of direct Costs and shared costs, including support Costs iiiiioli'ed in undertaking cacl) 2Ctivit),. Direct costs xttrlbutkble to A single acuiiit).. are allocated dllCCtI)' to diat ctivit),. Sliarcd costs ivhicli contribute to inorc tlian one ActiiFIty' and sui)porl costs ivliicli are not ttributable to a 51ngle actiiTIt)T Rre apportioiied betsveen tliose 2ctllFltics on A basis consi5teiit IlTltli tlie use OE resources. Cential staff costs are allocated on tlie b%sis of tsme spent. 2nd depreciation cliaiges llocated on tlie portion of tlie asset's use. GovcrnAncc costs include thosc costs associAted ivitli meeting tlie constituiiol)al ai)d statutoi), requirements of tl)e trust. Page 9 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 Accountlng poll¢les (¢ontlnued) 2.4 Expenditiite (continiied) All expenditure is indusive of irrecoiterAble VAT. 2.5 Investinents FL¥ed asset investments Are a form of fts]ancial instrument and arc iilltiau), rccogniscd at t]ieir trAnsAclion C05t and subsequendy Ine2siired at fair i'alue at tlie BAIAnce sliect date, iinless tlic iiAlue caniiot be measured ieliobly in ivhicl) cxse it ts measured at C05t less impairment. Investinenl gains And losses, Ivlieilier rcAlised or unrealised. are combined and presented #s 'Gaiiis/(Losses) oil ii)vestineiits' in tlie StAtement of fmancial Activities. 2.6 Cash at bank and in liand Ca511 at bank and in hand includes casli and sliort-terin liiglil), liquid ini'estiiicnts ivi(Ii A 51iort inAturit)' OE tlirec montlis or less from tlie date of acquisition or OPen￿g ol tlie defi)osit or slinilar account. 2.7 Liabilities and provisiorts Liabiliues are recognised ivlien there is an obligation at tlie Balance slieet date as a result of a past eitent, it is probable tliat a transfer of economic benefit iiqll be required in settlement, and tlie amoiiiit of tlie settlement can be estimatcd reliablj,. Liabilities are recognised at the amount that tl)e Trust anticipate5 It ivill pa), to settle tlic debt or tlic amount ir lias receii'ed as advanccd pA)Iment5 for tlie goods or serviccs it inus¢ proiTide. Ptoirisions arc measured at the best estimate of tlie amounts requircd to settlr tlic obligauoii. INI]iere clic effect of tlie time value of mone)J is iiiaterial, tlic proipision is based on thc picseiit valuc ol tliose amounts, discounted At the pre-tAN discoui)I rate tlia( reflects tlie risks specific ro tl)e I1￿bi￿￿,. Tlic univinding of tlie discount 15 recognised in tlie Stateinent of f￿AnCIAl actii'ities as % flnance c05t. 2.8 Fund accoiinting General funds are ui)resuicted funds ivliicli xre available For use tlie dL5cretion of the Trusree in furtlieraiice of the general objectiire5 of rl)e Trust And ivlu'ch Iiskire not becn designated lot otliei piirp05es. Rcstricted funds are funds ivliich are to be used in accordance iiFltII specific resttlctions imposcd by donors or ivhicli h￿IFe been rAised b}, Ilie Trust for paiucular purposes. Tlic costs of rai5iiig atid dministering 5ucli funds kre thArge.d agaiiist tl)e Specif￿ Fund. Tlie aim ai?d use ol eacli iestiicted lund is set out in tlie notcs to tlie fthancial statements. Page 10 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 Crltlcal accountlng estlmates and areas of Judgoment F.stiinatcs and judgemcnts are required ivlien appl}ping accounting poh'cies. 'lliese Ire conunuall)i eil AILiated and ale based on Iiistorical experiencc and otlieI lactors, including expectations of futuie events tliat are believed to be reasoiiRble under tlic circumstances. Tlie trust tnAkcs estiinates and Assumptions concerniiig tlie future, Ivlifficli can inirolire a liigli degree of judgement or complexit),. The resultsng accounting estimates ivill, b), dcfiniiion, seldoin equ21 tlic ielatcd actufil iesults. I'lie e5timxtes and assumptions that liave a signifjcant rEsk OF causing a Jn2terial adjustiiieiit to the carr)Ting Ainounts of assets and ￿.￿bilitieS witliin the next f￿￿nciAl )Tear are addresscd beloiv.. Fait valiie of investments Uses various valuation tcclinIques to detcImine tlie fw value of fmai)cial iiistrumcnts (Ivliere aCUiTe inarket quotes are nor avadAble) and non-ffinancial 255ets. Thts Anvolipes d￿re10PAn8 estiinaies And a$5umpuoiis C01151Stent ivitli lioiv mArkct pArucipants ivoiild price tlie instiuinent. Tlie trustee bases its ASSUlllPUons on obscThpAble data as far as possible but tliis is Iiot aliv2!'s Ri'ailablc. In tliat cRse, ln2iiageinent uses tlic best nformation 21tailable. Estiinated Fair i'alues majp iTar)' Iroin tlie actUAI prices tliat iiiould be acliieiped in ali arm's lengtl) transaction at the reporting date. Critical accounting estimates #nd assumptions: Investment Income Restricied fiii)ds 2023 Total fiinds 2023 Listed investments 803 803 Total 2023 803 803 Rcstilcted funds 2022 'I"otal luIids 2022 J.isted iThve5tments 1,162 1,162 Total 2022 1.162 1,162 Page11 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 Analysls of expondlture on charltable actlvltles Siimm%ry by fiiftd type Restrxeted fiTnds 2023 Total 2023 Legal & ProfessionAI fees lThvestment eNpcn5es Disburscinents io beneficiary 2,833 782 2,833 782 1,559 1,559 Total 2011 5,174 5,174 Restricted ftiiids Total 2022 2022 Legal & Professional fees Iniiestmcnt expetises Disburseinents to beneFIci 2,846 1,041 709 2,846 1,041 709 Total 2022 4,596 4,596 Independent examlnèr's remuneratlon 2023 2022 Fees payable to tlie Ttust's iiidependent eKRminer for tlie independei)t cxAininAUon of Ilie Trust's annual ￿CCountS 1,800 600 Trusteos. remuneratloni expenses and staff costs During the year, no Trustees received anj, remuneration (2022 _ £NIL). During tlie )Fear, no Trusrees Iecelved an}, benefits in kind (2022 - £NIL). During tlie )ieAr, no Trustees rcccivcd an)r reimbursemcnt of expenses (2022 _ £NIL)- Diiiing tl)e )'ear, tlie Average nuinber OE persons einplo)'ed b), the Trusi iiTas NIIL (2022 -£NIL)- A5 detaAed in Note 12, tlie Trustecs ieceii'ed reinuner2tion lor sern'ices rcndcred to tlie Trust iii thc curieiit )iear. Pa9e 12 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 Flxèd asset Investmtrnts Listed investtnciils Cost or valiiation At l January 2023 Additions Disp05als Revaluations 64,996 13,388 (16,754) 4,232 tli 31 Dccembcr 2023 65,863 Net book valiie At 31 Decembu 2023 65,863 At 31 December 2022 64,996 Crodltors: Amouhts talllng due wlthlfi one year 2013 2022 Accruals and deferred income 1,801 1,200 Page 13 Wllllam MacAlister Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 10. Statem&nt of funds Statement of funds - current year Balaiice at 31 Gaiiis/ Decetnber (Losses) 2013 Balance at I Janiiar), 2023 Income Expenditiire Restticted funds Restricted Funds - all funds 64,535 803 (5,174) 4,232 64,396 statement of funds - prlor year Balance at l January 2022 B1# IAnce at Gains/ 31 Deceinbcr (Losse5) 2022 Income Eipenditutc Restricted flind8 Re5trtcted Funds - 211 fiinds 75,853 1,162 (4.596) (7.884) 64,535 Page 14 Wllllam MacAllster Settlement No. 2 Notes to the financial statements For the year ended 31 December 2023 11. Analysls of net assets between funds Analysls of net assets between funds - current year Restticted fiiiids Total fiii)ds 2023 2023 Filed asset iiii'e5tments Ciirrent assets Creditors due ivithin one year 65.863 334 65,863 .334 (1,801) (1,801) Total 64.396 64,396 Analysls of net assets between funds - prlor year Resulcted Eunds 2022 Total fuiids 2022 Fixed Asset investments Current Assets Crcditors due ivitliin one year 64,996 739 64,996 739 (1,200) (1.200) Total 64,535 64,535 12. Relatod party transactlons During the )teAr, legal fees of £1,033 (2022.. £1.140) Ivere paid to Cleaver Fulton Rankin Litnited. Cleavcr Fulton RAnkin Tiustees Limited is rlie Administratiirc Triistee of tlie tiiist. P8ge15