REGISTERED CHARITY NUMBER: scoa9306
MAPCO FOUNDATION
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31" MARCH 2025

MAPCO FOUNDATION {REGISTERED CHARITYNUMBER". SC0493061
ANNUALREPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31" MARCH 2025
PAGE
Reference an(J Adtnini5trative Details
Report of the Trustees
Independent Audilor's Report
Consolidated Statement ot FinancialAciiviiies
Statement ot Financi31 Actiwties
Consolidated Balance Sheet
Balance Sheet
Cuiis¢Jlidaled Statement of Cash Flow5
Notes to the Consolidated Financial Statements
io
li
13
14
15

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306}
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31" NAACH 2025
SC049306
GharltyRegistered Ottice
48 Flat B Maiket Street
Aberdeen
A8115QE
Tni*tpp.s
MAkram&Co
Chartered Accouniants
413 Lea Bridge Road
London
EIO 7EA
HSBC UK Bank PIC
95-99 Union Street
Aberdeen
ABII 6BD

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306)
ANNUAL REPORT ANDCONSOLIDATED FINANCIALSTATEMENTS
FOR THEYEARENDED 31" MARCH 2025
REPORT OFTHETRUSTEES FOR THEYEAR ENDED 31" MARCH 2025
The trustees present their annual report together wilh Ihe financial statements of Mapco Foundation for the year ended 31st
March 2025. The trustees confirm that the annual report and financial statements of the group comply with the current
statutory requirements, the requirements of the charitys goveining document and the provisions of the Statement of
ecommen(iecl Practice I"SORP"}. appiicaDie 10 charltles preparing ihelr accounts In accor(iance wilh Ihe Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP FRS 1021 ias updated through
second edition- October 20191-
OBJECTIVES AND ACTIVITIES
Oblectlvos and aims
The charitable purposes are prevention or relief of poverty and the advancement of education. During the year the Trustees
have developed relationships with various establishments both local, national and international, consisting of educational
establishments as well as local councils in tenns of developing educational and business programmes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is Controlled by its governing document. a deed of trust. and constitutes a Scottish Charitable Incorporated
Organisation ISCIOI.
Recrultment and appolnlment of newtrustees
In the year the charity had 3 trustees, consisting of a doctor. a chartered accountant and an events organiser. with
extensive experience in philanthropic Work. The Trustees devote a good deal ot thought to succession planning and keep a
fegister of Ihe mixture of skills and professional backgrounds that they require tof the governing body. The aim is to achigVO
a balanced board with a core of individuals with educational, legal. accountancy, finance, business and marketing
backgrounds. The trustees rewew this balance regularlyand try to achieve a wide range ol prolessions and backgrounds.
Rlsk management
The trustee5 have a duty to identify and review the risks to which the charity is exposed to and to ensure appropriate
conlrols are in place to piowde assurance against fraud and error.
Publle B&n•flt
The Trustees confirm they have given due Consideration to the public benefit and have complied with the Charities and
Trustee Investment Iscotlandl Act 2005 in this regard.
ACHIEVEMENT AND PERFORMANCE
Groups actlvltles
Achlevementsln theyear
During the yeai, the group finalised its five-year strategic plan. A key milestone was the acquisition of a freehold building,
which was sourced and completed within the year. This facility has provided a significant boost to the group's operational
capacity and will serve as a central hub for its actiwties. Work is also nearing completion to run the building entirely on
green energy reflecling the charity's commitment to sustainability and responsible resource managernenl. In addition, the
charity commissioned a locus group to assess the use of its facilities and Ihe design ol its charitable activities. The insights
gained from this group have provided valuable guidance ensuring that the group's initiatives are aligned with the needs and
prioritie5 of vuLnerable people acros5 Scotland. This process has strengthened Confidence in the strategic direclion of the
group and its ability to deliver meaningful impact in the community.
(Neraii. the year has been markeu DytangiLile progress In infrastructure. sustainability, and cofflmunity engagement.

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEARENDED 31. MARCH 2025
PLANS FOR THE FUTURE
The new premise strencthens the group's capacity to advance its humanitarian and educational objeclives, enablin
wellbeing classes for the elderly, and other social activities. as well as a distribulion hub foi collections of items for local
cniiuren's charllles. The group wlll Opiimise financial reserves 10 maintain Ihe communiry iacility and expand the orphanage
programme. These initialives ensure the group's resources are used effectively. maximising impact and reinforcing its
commitment to supportingvulnerable populations through education. social engagement. and humanitarian wofk.
FINANCIAL REVIEW
Flnanclal posltlon
The group has had a strong financial year, with donations exceeding expectations at £2.449.060.12024- £2.706,0011 and
generating a solid foundation for its future activities. A key milestone during the year was the acquisition of a buildingwhich
has been developed to align wilh the group's humanitarian anii educalional objective5. This investmeni Ulrectiy supports
the stralegic direction set out in the group's five-year plan. providing a central hub to deliver its strategic objectivos. This
Investment in the property has been partially designated as a community hub for the elderly, social activities, and
resources collections for children's charities, thereby enhancing the charity's impact on the vulnerable. Financial reseNes
have been prudently managed in low-risk money markct bonds. generating considerable bank interest of £170,22012024-
£57.8351. This approach ensures the group maintains financial stabilitywhile sUPPOrting both ope¥ational needs and the
strategic development of its facilities and prograrnmes. l)4erall the group's financial performance demonstrates Strong
stewardship of resources. enabling tt to deliver on its long-term objectives whlle maxlmising benefit to the community.
Reserves pollcy
The truslees acknowledge their responsibility to ensure sufflcient funds are available to safeguard the charity's activities.
The reserve policy of the group is to retain sufficient unrestricted fund3 to meet the grant commitments and operational
costs of the charity eslimated at £200,000 a year. The unfestricted funds of the Eroup as al 31st March 2025 were
£6.309,265 and the liquid funds represented by cash balances of É5.760.071.
Golng concern
The trustees are of the opinion that with careful management the funds available are sufficient to secure the continuing
activities otthe group.

MAPCO FOUNDATION IREGisfERED CHARITY NUMBER: SC049306)
ANNUALREPORT AND CONSOLIDATED FINANCIALSTATEME￿rs
FOR THE YEAR ENDED 31" MARCH 2025
TRUSTEES, RESPONSIBILITIES STATEMENT
The trustees are responsible for preparingthe Trustees. Annual Report and the financial statements in accordance with
applicable law and United ￿ngdorn Accounting starKlards (United Kingdom Generally Accepted Accounting Practice).
The law appllcable to charities ID ScollaTrii requires the trustees lo prepare financlal statements for each flnanclalyear
which give a true and fairview ol the state of aff31rs of the charity and of the incoming resources and aDplicats"on of
resources ol the charity for that period.
In Preparing these financial Statements, the twstees are required to:
select suitable accounting policies and then apply them consistentl￿,
observe the meihods and pnncipies in the Charilies SORP 2019 IFRS 1021;
mxkp jLideements and estimates that are reasonable and prudent..
slate whether applicable accounting Standards have been followed:
prepare the financial statements on the going concern basis unless It is Inappropriate to presume that the
charitywillcontinue In operation.
The trustees are responsible for keeping proper accountlng records that dlsclose wtth reasonable accuracy at anytime the
financial position ol the chanty and enable them to ensure that the financial statements complywth the Charitie5 and
Triistee Investment ISr.nllandl Arl ?nnfj. thp r.haiitip£ Arrnijnls Isrntlanrfl Rp.eiilatiDn8 ￿ las ampndpdl and the
provisions ol the charity's constitution. They are also responsible for safeguarding the assets of the charity an(J hence for
tsking reasonable steps for the pfevenlion and detection of fraud and other Irregularltles.
Dlsclosure of Informatlon to Audltors
The Iruste&s confirm that as lar as they are aware, there is no relevant audll Infomiatlon of whlcn the charlty and the group's
auditor Is unaware. Each of the trustees has conflrmed that they have taken allthe steps that they ought to have taken as
trLFsiees in order to make themselves aware of any relcvant audit information and to establish Ihat it has been
communicated to the charity and the group audilor.
ADproved by oid?r ol 11)p hDrril ol I.. u51pès ali . xlh December 2025 and si£ned on its behalf b￿.

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2025
INDEPENDENT AUDITOR'S REPORTTO THETRUSTEES OF MAPCO FOUNDATION
Oplnlon
We have audited the financial statements of Mapco Foundation Ithe'parent charity'i and its subsidiaries Ithe'group'i for
Ine year en(Je(J 31si March 2025 which compnse the Consolidated Statement of Financial Activities. the Statement of
Flnancial Activities. the Consolidated Balance Sheet. the Balance Sheet. the Consolidated Statement of Cash Flows and
notes to the financial stalements. including a summary of significant accounting policies. The financial reporting framework
that ha5 been applied in their preparation is applicable law and United Kingdom Accounting standards, including Flnancial
Reporting standard 102 The Financial Reporting standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and parent charivs affairs as at 31st March 2025. and of
the group's and parent charitys Incoming resources and application of resources, for the yearthen ended;
have been property prepared in accordance with United Kingdom GenerallyAccepted Accounting
PracticÈ- and
have been prepared in accordance ￿th the requirements ot the Chartties and Trustee Investment (Scotlandl
Act 2005 and regulation 6 and 8 of the Charities Accounts Iscotiandl Regulations 2006.
Basls for oplnlon
We conducted our audit in accordance with Inteinational Standards on Auditing IUKI IISAS IUKII and applicable law. Our
rèsponsibilitiès under those standards are further described in the auditor's responsibilitie3 for the audit of the financlal
siatements section of our report. We are independent of the group and parent charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK. includingthe FRC'S Ethical Standard, and
we have fulfilled our olher ethical re5POF15ibilitie5 in accoroance wlth these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relalln%io going concein
In auditing the financial statements, we have concluded Ihat the twstees, use of the going concern basis of accounting in
the preparations of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relatingto events or conditions
that, Individually or collectively, may cast significant doubt on the group and parent charity'5 ability io continue as a golng
concern for a period of at least twelve months from when the financial statements a￿ authorised lor issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other Informatlon
The other information comprises the Infomiation included in the trustees, annual report. other than the financial
siatemenis and our auaiior's repon ihereon. The Irustees are responsible rortne other intormation. Our opinion on the
finAnr.i21 statpmpnts dt)P8 nnt rt)vpr thp nthpr infnrmalion and we do not express any form of assurance conclusion
thereon.
Our responsibility is to read the other infomiation and. In doing so, considerwhelher the olher information is materially
inconsistent with the financial statements or our knowledge obtained in the touise of the audit or othe￿ise appears to be
materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to
delerminè whèthor thig givè$ rise to a material misstatement in the financial statements themselves. If, based on the work
we have pertormed. we conclude that there is a material misstatement of this other information. we are requlred to report
that fact.
We have nothing to report In this regard.

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31" MARCH 2025
Matters on whlch we are requlred lo report by exceptlon
We have nothingto report in respecl of the following matters in relation to which the Charities Accounts (Scotlandl
Regulations 2006 requires us to report to you if. in our opinion:
the information given in the trustees. report Is inconsistent In any material respect with the financial
statements; or
proper accounting records have not been kept. or
the financial statements are not in agreement with the accounting records-, or
we have noi receive(J ali ine information and explanatlons requlre for our auOII.
Responslbilities ol trustees
AS explained more fully in the trustees. Tespon5ibilities statement set out on page G. the tnjstees are responsible for the
prepaiation of the financial statements and for being satisfied that they give a true and fair view. and for such internal
control as the trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible foi assessing the group and parent chaiity's ability to
continue a5 a going Eoi)Leiii, disclosin& as applicable. matters related to going concern and using the going concern bas13
of accounting unless the trustees either intend to Ilquidate the group orthe parent charity or to cease operations. or have
no realistic alternative but to do so.
Audltor's responslbllitles forlhe audlt ol the financlal statements
We have been appointed a5 auditor under section 44llllcl of the Charities and Trustee Investment IScotland} Act 2005 and
report In accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable a55urance about whether the financial statements as a whole are free from material
misstatement. whether due to Iraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level ol a55urance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI wlll
always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could
ieasonably be expected to influence the economic decisions of users taken on the basis of these linancial statements.
IrreguLarilies. includingfraud. are instances of non-compliance wth laws and regulations. We design procedures in line
with our responsibililies, outlined above. to detect material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.
We enquired of the management. which included obtaining and reviewing supporting documentation.
concerning the group and parent charity's policies and procedures reLatingto=
Identity'ng. evaluating. and complyingwilh laws and regulations and whether theYWe￿ aware of
any instances of non-compliance.
Delecling and re5pondingto the risks of fraud and whether they have knowledge of anyactual.
suspected or alleged fraud:
The Internal coniroL5 e51aiJllsheO to mltlgate rlsks relaied io fraud or non-compllance wlth laws
and regulations.
We identified the law3 and regulation3 applicable to the group and parent charitythrough discussions with
the management. and from our cofflmercial knowledge and experience of the charity sector, focusinR on
those laws and regulations that had a material effect on the financial statements or that had a fundamental
effect on the operations of the ￿0Up and parent charity-

MAPCO FOUNDATION (REGISTERED CHARITh NUMBER: SC049306}
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEARENDED 31" MARCH 2025
We ensured that Ihe engagement team collectively had the appropriate competence, capabilitie5 and skills
to Identify or recognise non-compliance with applicable laws and regulations.
We inspected the minutes of meetings of the Board ofTiustees.
We revlewed any reports made to the Scottish Charity Regulator.
We agreed the financial statement disclosures to underlying supporting documentation and completed a
disclosure checklist to ensure compliance with the requirements of the Charities and Trustee Invesiment
Iscotlandl Act 2005 and regulation 6 and 8 of the Charities Accounts {Scolland) Regulations 2006.
We performed analytical procedures to identity any unusual or unexpected relationships that may indicate
risks of matÈrial misstatement due to Iraud.
In addressiiig the iisk of fiaud through management overrlde of contr015. we iesEed rhe appropriateness of
journal entries and other adjustments to identify unusual transactions and investigated significant
transaction5 that are unusual or those outside the normal course of business.
Because of the inherent Ilmitations of an audit. there is a risk that we will not detect all irregularities, including those leading
to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more
thai compllance wlth a law or reguiaiion is removed from the events ano transactions reflected in the financial statements.
as we will be less likelyto become aw3re of instancès ot non-compliance. The risk is also greatar r9garding irregularities
occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or
mlsrepresentation.
A further descriplion of our responsibilities 15 available on the FRC'S website
at: https.l￿.http5.I1vN￿.frC.Org.Uklilb[ary1Standards-c0deS-pOI1cylaudlt-aSsu[anCe-and￿th1cSlauditorS-
responsibllities-for-the-audiv. Thi3 description forms part of our auditor's report.
Use ofour report
Thi￿ ieport is made solely to the charity's trustees. as a bodys in accordance with Regulation 10 of the Charitie5 Accounls
(Scotlandl Regulations 2006. Our audit work has been undertaken so that we might stale to the charity's trustees those
matters we are required to state to them in an auditor's Feport and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibilityto anyone other than the charity and the charity's tiustees a5 a body, for our
aiidit work. for this report. ortor the opinions we have formed.
M kLRAM
M Akram & Co (Statutory Auditor)
413 Lea Bridge Road
London
EIO 7EA
M Akram & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

MAPCO FOUNDATION (REGISTERED CHARITh NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THEYEAR ENDED 31 MARCH 2025
CONSOLIDATED STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31" MARCH 2025
20251£)
Unrestrlcted
20241£)
Unrestrlded
Notes
Income Irorn:
Donations and legacies
Investment income
2,449.060
170,220
2.706.001
57,835
Total Income
2.619.280
2.763,836
Expendlture on:
Charitable activities
Raising funds
16.411
2.065
I,e67
Total expendllure
18.476
1,667
Net Income
2.600,804
2,762.169
Reconclllatlon of funds:
Total funds brought forward
3.708.461
946.292
Tot31 funds earrled fobward
6,309.?65
q.7CfrA.d61
The notes on pages 15-22 form an integral part of these Consolidated Financial Statements.
There ale no recognised gains and losses other than those passing through the Consolidated Statement of Financial
Aclivities.
All income and expenditure is derived from continuing activities.
io

MAPCO FOUNDATION {REGISTERED CHARITY NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEARENDED 31" MARCH 2025
STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31"MARCH 2025
2025 (£)
Unrestrlcted
20241£)
Unrestrlcted
Noles
Incometrom".
Donations and legacies
IFbve5tfflent income
2,449.060
167.297
2,706.001
57,835
Totallncome
2.616,357
2,763,836
Expendlture on:
Charitable Activities
Raising funds
13.862
1.667
Total expendlture
13.862
1,667
NÈt Income
2.602.495
2,762.169
Reconcluatlon ol funds:
Total fund5 brought forward
3.708.461
946.292
Total funds carrled forward
6.310,956
3,708,461
The notes on pages 15-22 form an integral part of these Financial Statements.
There are no recognised gains and losses other than those passingthrough the Statement of Financial Activities.
All income and expenditure 15 derived from continuing activities.
li

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER". SC0493061
ANNUALREPORT AND CONSOUDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31° MAficH 2025
si
CONSOLIDATED BALANCE SHEET ASAT31 MARCH 2025
Notes
20251£)
2024 (£)
Flxed assets
Intangible assets
Tangible assets
773
544.862
545,635
Cu￿ent assels
Debtors
Cash at bank
li
28.033
5.760.071
3.710,041
5,788.104
3.710.041
Current Ilabllltles
Creditors: amounts falllng due withln one year
12
124.4741
{1,5801
Net current assets
5.763,630
3,708,461
Net assets
6,309,265
3,708.461
Funds
Unrestricted funds
13
6,309.265
3.708,461
Total charlty funds
6.309.265
3.708,461
The financial Statements were approved by the Boaid ol Trustees and authorised for issue on 15th Dècember 2025 and
were signed on its behall by:
12

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306)
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31. MARCH 2025
BALANCE SHEET ASAT31" MARCH 2025
Note5
2025 {£1
20241£)
Flxed a55ets
Investments
io
25.125
25.125
Current asset5
Debtors
li
803.680
5,486.179
Cash at bank
3,710.041
6,289,859
3,710,1)41
Ctsrient Ilablllties
Credltors= amounts falllng due within one year
12
14.028)
(1,5801
Net current assets
6.285,831
3,708,461
Net assets
6.310,956
3,708,461
Funds
Unrestricted funds
6.310.956
3,708.461
Tolal charlty funds
6.310.956
3.708.461
The Ilnancial statements weie approved bythe Board of Trustees and authorised for issue on 15th December 2025 and
were SiEned on its behalf by..
13

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306}
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARENDED31 MARCH 2025
CONSOLIDATED STATEMENTOFCASH FLOWS FOR THEYEAR ENDED 31" MARCH 2025
Notes
2025 {£)
20241£)
Reconcillatlon to cash generated from operallons
Net income for the year
Interest income
Increase in debtors
IncfeasellDecreasel in creditors
Amortisation of intangible assets
2,600,804
1163,6171
2,762,169
157.8351
22.894
194
15,834
Net cash flows from operatlng actlvlties
2.457.242
2.698,500
Cash flows from Investing actl¥ltle$
Purchase of tangible fixed assels
Purehasa of subsidiary undertaking. net of cash
acquired
Interest recelved
113.8801
io
20.051
138.617
57.835
Net cash flowfrom Investlng actlvllles
144.788
57,835
Cash flows from flnanclnE acllvltles
Repayment of loans
(552.0001
Net cash used In flnanclng actlvltles
1552.0001
Change In cash and Cash equlva(ents In the year
2,050.030
2,756,335
Cash and cash equivalents brought foFward
3.710,041
953,706
Cash and cash equlvalents carrled forniard
14
5.760.071
3.710,041
14

MAPCO FOUNDATION {REGISTERED CHARITY NUMBER: SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
I.ACCOUNTING POLICIES
Basls of preparlngthe flnanclal statements
The consolidated financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in
accordance with Accounting and Reporting by Charities-. Statement of Recommended Practice, applicable to charities
piepaiing tl)elr accouJils in aL¢oidrince with Ihe Financial Reponing Stanuaro appllcaole In the UK an(J Reputslic ol Irelana
IFRS 1021- (Charities SORP FRS 1021 las updated through second edition- October 20191. the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021, Charities and Trustee Investment Iscotlandl Act 2005 and
Charities Accounts (Scotlandl Regulations 2006. The financial statements have been prepared under the historical cost
convention.
Golng concern
The trustees consider that there are no maierial uncertainties about the group's abiltyto continue a5 a going concern.
Incorne
All income is recognised in the Stalement of Financial ActNlties once the group has entitlement to the fvnds. it is probable
that the income will be received and the amount can be measurcd rellably.
Donations an¢J grants are recogniseo in the perioo in which the group is entitled to receipts wheie the amount can be
measured reliably.
Invesiment income on funds helo on deposits are Incluuerj when ieceivable and the amount can be measured reliably by
the Eroup.. this is normally upon the notlfieation of the interest paid or payable by the bank.
Income from investment properties 15 recognised in the Statement of Financial Actiwties when the group's right to receive
the income is established.
Expendlture
Fxppnditurp. 1% rprngnigpd as soon as there is a legal or construttivÈ obligation committing the group to that expenditure, it
is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be
measured reliably. Expenditure is accounted for on an accruals basis and has been classitied under headings thai
aggregate all cost related to the category. Where costs cannot be directty attributed to particular headings they have been
allocated to activities on a basis consistent with the use of resources.
Consolldallon
These linancial statements consolidate the accounts of Mapco Foundation and its subsidiary undertaking. Macworkers
Limited. Uniform accounting policies are adopted Ihroughout the group and intra-group transactions or balances are
Èliminated on consolidation.
Inveslment propertles
Investment propety is propety held for rental. Capital growth or both. The group's investment propety Portlolio comprises
four residentlal units and one commercial unit. No depreciation is provided in respect of investment properties.
Initlal measurement is at cost inclusive of transaction cost and tt is subsequently carried at fairvalue in the balance sheet.
Any gains or losses arising irom changes in the fair value are recognised in statement of financial activities in the peiiod that
they arise.
Investment property fair value is determined bythe trustees based on current prices in an active market for similar
propenies In ihe same locaiion an¢ contilllon.
15

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306)
ANNUALREPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31. MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
Tangible fixed assets
Tangible fixed assets are stated at cost lor deemed costl orvaluation less accumulated depreciation and accumulated
impairment losses. Depreciation commences in the yeai following acquisition. The depreciation rate for fixtures. fittings
and equipment is 25% on a straight line basis.
Intangible flxed assels- goodwlll
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a
straighl line basis over its uselul life. The period chosen for writing off gooowlll Is 5 years. Provlslon Is maoe lor any
impairment.
Investments
Fixed asset inveslments are stated at cost less provision for diminution in value.
Fund accountlng
Unrestricte¢J tun(is can De useo In accordancewth Ihe charitable objectives at the discreiion of Ihe irusiees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise
when specifie(i by the donor orwhen funds are raised for particular restricted purposes.
Donations and tsthpr income do8ignated for Specific charitable purposes are allocated to a restricted fund. with related
expendituies charged against that fund. The charity held no restricted funds in 2025 or 2024. All incoming resources are
classified as unrestricted funds, which the trustees may use at their discretion to advance the charity's objectives.
Debtors
Trade and other debtors are recogniseo at the settlement amount Oue artertraoe Uiscounts ottered.
Prepayments are valued at the amount prepaid net of anytrade discounts due.
Cash at bankand In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of 12 months or
less from the date of acquisition or opening of Ihe deposit or similar account.
Credltors and provlsions
Creditois and provisions are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of lunds to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlemenl amount after allowing for any trade
dibcovnts due.
Flnanclal instrumenls
The charity only has linancial assets and fi-nancial liabilities of a kind that qualify as basic financial instruments. Basic
financi¢il in5tiutnenls iiie iiiitldlly ieLugiiisetJ dt Iiaiisacliuri Vdlue dnd subsequently tned5ure(i at theii 5eltlefflent Vdlue with
the exception of bank loan5 which are subsequently measured at amortised cost using the eflective interest method.
16

MAPCO FOUNDATION (REGISTERED CHARifi NUMBER: SC049306)
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEARENDED 31"MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
2. KEYJUDGEMENTSAND ESTIMATION UNCERTAINri
The preparation ol financial staiernenls requires management to make judgements. estimates and assumptions that affect
the reporte(J amounts ot assets anti liabilities at the reporting date and the reported amounts of income and expenditure
during the year. Actual results may differ from these eslimates. The following estimales and assumptions were used in the
financial statements.
The group's investment properties are carried at fair valup. at the reportine date. in aeeordaneÈ with FRS 102 and the
Charities SORP. The fail value represents the trustees, best eslimate, based on Iheir knowledge of the property, local
property prices and recent market activity in the area. Although the trustees consider this to be a reasonable eslimate ol fair
value, propertyvaluations involve a degree ofjudgement and the amount ultimately realised on sale may differ from the
value ieported in these financial statements.
3. INCOME FROM DONATIONSAND LECACIES
Group
2025 (£)
Charlty
2025 (£)
20241£)
20241£)
Donations
2.449.060
1.981.001
725.000
2.449.060
1.981,001
725,000
Legacies
2,449.060
2.706.001
2,449,060
2.706.001
4. INCOME FROM INVESTMENT ACTIVITIES
Group
20251£)
Charlty
20251£)
2024 {£)
2024 {£1
Deposit account interest
Rental Income
163.617
6.603
57.835
167.297
57,835
170.220
57.835
167.297
57,835
5. EXPENDITURE ON CHARITABLE ACTIVITIES
GTOUP
2025 (£1
Chailty
2025 (£1
20241£)
20241£)
Grants
Allocation of support costs
5.683
10.728
5.683
8,179
16.411
13,862
During the year a grant of £3,80812024- £Nill was paid to Africa Muslims Agency, South Africa in respect of the sponsorship
of orphans.
6. EXPENDITURE ON FUND RAISING ACTIVITIES
GTOUP
2025 {£1
Charlty
2025 (£1
20241£1
20241£)
Rental properties operating expenses
Allocation of support costs
715
1,350
1.667
1.667
2.065
1,667
1,667
17

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306}
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THEYEAR ENDED 31 MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
7. SUPPORT COSTS
Grgup
2025 {£1
Charity
20251£)
20241£)
20241£)
Accountancy
Audit lees
Bank charge5
Premises costs
Travel
500
3.877
135
5.236
282
560
1.080
27
500
3.877
128
3.514
160
560
1,080
27
Professionalfees
Amortisation of goodwill
1,854
194
12,078
1.667
8.179
1,667
The charity had no employees during the year12024- None}. and thus no employee5 that had emoluments over £60,000
12024- None).
Allocallon ol Support Costs
These support costs Tepresent the funds used to achieve the group's objectives. They have been allocated between
unrestricted charitable expenditures and fundraising efforts based on the proportion of diiect unrestricted costs incurred.
8. INTANGIBLE FIXED ASSETS
Group
Goodwlll
At 1st April 2024
Additions
At 31st MaTch 2025
967
At 1st April 2024
Charge for the year
194
At 31st March 2025
194
At 31st March 2025
773
At 31st March 2024
18

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER". SC0493061
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
9. TANGIBLE FIXED ASSETS
Gioup
Investment Flxtures, flttlngs
property
& equlpment
Total
{£1
At 1st April 2024
Acquisitions through busine55 combinations
Additions
530.982
6.240
530.982
13.880
7.640
AI 31si March 2025
537.222
7.640
544,862
At 1st April 2024
Charge for the year
Al 31st March 2025
At 31st Mafch 2025
537.222
7.640
544,862
At 31st Marth 2024
The fairvalue of investment properties was determined bytrustees and they believe that the market value of the properties
is not materially different to the carrying valu¢.
10. FIXEDASSEtS INVESTMENT
Charlty
Investment In
subsldlary
undertakings
i£}
At 1st April 2024
Additions
25,125
At 31st March 2025
25,125
On 3rd February 2025 the group acquired 100% of the issued ordinary share capital1100 ordinary shares of £1 each) of
Macworkers Limited (previously known as Mapco Properties Limitedl. a company incorporated and registercd in Scotland
(company number SC5982281. having its registered office at 28-30 Seagate, Peterhead. Scotland. AB42 IJP. The principal
activity of the Company is property investment. The acquisition Cost was £25.125. paid in cash.
In calculatlngthe goodwill arising on acquisition, the fairvalue of net assets of Macworkers Limited have been assessed
and adjustments from bookvalue where necessary.
19

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306)
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THEYEARENDED 31" MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
10. FIXED ASSETS INVESTMENT- contlnued
Falrvalue
1£)
Fixed assets
Tangible
530,982
Currentassets
Deblors
Cash at bank and in hand
2,304
45,176
Total assets
578.462
Creditors
Due within one year
1554,3041
Net assets
24.158
Goodwill (note 81
967
Total purchase conslderatlon
25,125
Purchase consideration settled in cash. as above
Cash and cash equivalents in subsidiary acquired
125,1251
45,176
Cash inflow on acqulsltlon
20,051
Since the acquisition date, Macworkers Limited has contributed £6.603 to group income resources and £2.183 to group's
net income.
The assets and liabilities of Ihe subsidiary as at 31" March 2025 were-.
(£)
821,787
1799.1261
22,661
Total assets
Total liabilitie5
Nel assets
Aggregate share capital and reserves
22.661
The income and expenditure of the subsidiary arising after the date of acquisition have been included in the consolidated
Statement of Financial Aclivities, and its assets and liabilities as at 31 March 2025 are included In the consolldated
balance sheet.
20

MAPCO FOUNDATION (REGISTERED CHARITY NUMBER: SC049306)
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THEYEAR ENDED 31. MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
11. DEBTORS
Group
20251£)
Charlty
20251£}
2024 {£1
2024 {£1
Amounts owed bygroup undertakings
Prepayments and acciued income
Other debtors
775.000
28,680
27,959
74
28,033
803,680
Includeo In amounts owed bygroup undertakings is an amount of£552.00012024-£Nill which is due after more than one
year.
12. CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
Group
20251£)
Charlty
20251£)
2024 {£)
2024 {£1
Trade creditors
Other creditors
Accruals and defeired income
3.254
17,192
4,028
1.580
4.028
1.580
24,474
1,580
4.028
1,580
13. UNRESTRICTED FUNDS
General
Funds
Group
Balance at 1st April 2024
Net income
3,708,461
2.600,804
Balance at 31st March 2025
6,309,265
General
Funds
Charlty
{£1
3,708,461
2,602,495
Balance at 1st April 2024
Net income
Balance at 31st March 2025
6,310,956
14. ANALYSIS OF CASH AND CASH EQUIVALENTS
1st April
2024
Cash flows 31st March 2025
{£)
{£1
{£1
Cash at bank arsd in hand
3.710,041
2.050.030
5.760,071
Total cash and cash equivalents
3.710,041
2,050,030
5,760,071
21

MAPCO FOUNDATION IREGlSfERED CHARITY NUMBER: SC049306}
ANNUAL REPORT AND CONSOLIDATED FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31" MARCH 2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- Continued
15. RELATED PARTY TRANSACTIONS
Duringthe year, trustees were reimbursed £16012024- £Nill for travel expenses. No trustees received any Teffluneration
during the year12024-£Nill.
The group recelved donations from entities connected to trustee
Companies unde
control
contrlbuted a total of £2,449.06012024- £1.981.0011. These dDfaiioi',s".'ere Ivacle to support Ihe group ! c*arilat)le
aclNilies and were provtdedwithout condrtlons or restriciions allached.
During the year, the charity acquired 100% of the share capital ol ￿l{7cL.0[ke[S Limited. The purchase consideration was
paid lo Napco Seafoods Ltd.. a companycontrolled by trJste
The charity advanced a loan to its wholly owned subsidlary. Macwoikers Limited, durlngthe year. The balance outstanding
at the yea¥ end was £775,00012024- £Nill.
Followingthe acquisition of MacvffjrkÈrs Limited. the group recognised a loan Uabluty ol £552.000. This loan was
subsequently repaid during the year to Mapco Seafoods Ltd., Vdhich Is conlrolled bytrustee
Thp Yrnup also acquired fixed assets valued at £7.640 during the year. These a55et5 were provided by truslee
who also determined their value. No consideration was paid for the assets. and the amount remained pa>r2b1￿ to
the iriislee at the year end. This balance is included within other creditor5 (Note 121.
22