2025-01-31-accounts

REGISTERED CHARITY NUMBER: SC053033

Report of the Trustees and

Unaudited Financial Statements for the Period

3 January 2024 to 31 January 2025

for

Donald Malcolm Foundation SCIO

Donald Malcolm Foundation SCIO

Contents of the Financial Statements for the Period 3 January 2024 to 31 January 2025

	Page
Report of the Trustees	1
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8

Donald Malcolm Foundation SCIO

Report of the Trustees for the Period 3 January 2024 to 31 January 2025

The trustees present their report with the financial statements of the charity for the period 3 January 2024 to 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Donald Malcolm Foundation SCIO was set up to give focus to charitable activities of the Malcolm Group and to encourage greater engagement by its employees to support worthwhile causes which are important to the company's workforce.

The Foundation was created in memory of Donald Malcolm who built up the Malcolm Group from a single horse-and-cart coal run to the large nationally known logistics and construction business it is today. Donald was diagnosed with mouth cancer and despite being given only six months to live, he battled the illness for 18 years before he passed away. The Malcolm family want to recognise the care and support that Donald had received from local hospices and have held many fundraising events over the last 12 years to support cancer charities.

The charity main activity is to make grants and donations to organisations or individuals that align with the charity purposes.

The charity purposes are:

• the advancement of education

• the advancement of religion and promotion of religious or racial harmony

• the advancement of health

• the advancement of citizenship or community development

• the advancement of the arts, heritage, culture or science

• the advancement of public participation in sport

• the advancement of human rights, conflict resolution or reconciliation

• the advancement of environmental protection or improvement

• the advancement of animal welfare

• the promotion of equality and diversity

• the provision of recreational facilities

• the relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage

• the prevention or relief of poverty

Public benefit

The charity meets the definition of a public benefit entity under FRS 102.

Grant making policies

The charity's grant-making policy is designed to support organisations and projects that align with its charitable objectives. Grants are awarded based on a thorough assessment process, ensuring that funding is allocated effectively to achieve the charity's aims.

Volunteers

In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements as this cannot be reliably measured.

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Donald Malcolm Foundation SCIO

Report of the Trustees for the Period 3 January 2024 to 31 January 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Foundation has asked the Malcolm Group's workforce in 14 different geographical areas to nominate local charities that are close to the employee's hearts. The 14 chosen charities were each given a donation to help support their charitable work and the Malcolm Group employees were partnered with these charities for the year ahead. They were encouraged to undertake further fundraising for their chosen charities. The charities that were chosen were all local health related charities and hospices.

In the year ahead the Foundation is launching matched funding for employees of the Malcolm Group (up to predefined limits and at the discretion of the Trustees). The employees can either fundraise for their nominated local charity or for another charity that is important to them.

FINANCIAL REVIEW

Financial position

The financial statements show the overall position of the charity for the period to 31 January 2025, its incoming resources and the application of these resources for the period ended that date.

Income received for the period to 31 January 2025 totalled £182,250 and expenditure totalled £118,950. A surplus of £63,300 was generated.

Principal funding sources

The main source of funds for the charity derives from W H Malcolm Limited as well as private donors and organisations.

Reserves policy

The Trustees believe that the charity should hold financial reserves in order to ensure that the charity can continue to operate and meet the needs of clients in the event of unforeseen, and potentially damaging, financial circumstances arising. The Trustees therefore consider that it is prudent to set aside an amount equivalent to three months operating expenditure. The present level of reserves is as shown on the Balance Sheet.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

FUTURE PLANS

The charity plans to continue with its operations as in the period to 31 January 2025, and provide further opportunities for those in need in line with its purposes and objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Donald Malcolm Foundation is a scottish charitable incorporated organisation (SCIO) and registered as Scottish charity, charity number SC053033. The charity was formed on 3 January 2024. The SCIO is governed by its Constitution which established its objects and powers.

Recruitment and appointment of new trustees

The trustees may make appointment of additional or replacement trustees as they from time to time deem appropriate and such appointments may be made by a resolution of a meeting of the trustees provided that such resolution be signed by the person presiding at such meeting.

The number of trustees shall not be less than three and not more than seven and if when at any time the number of trustees shall fall below three, a new trustee or trustees of the charity shall forthwith be appointed to bring the number up to three at least.

Organisational structure

The day to day running of the charity is the duty of the trustees who meet regularly to set policy and take all major decisions regarding the charity, using the powers granted to them by the charity's constitution.

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Donald Malcolm Foundation SCIO

Report of the Trustees for the Period 3 January 2024 to 31 January 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

The policies of the charity for the induction and training of new board members are tailored to suit the knowledge and experience of the appointee.

Key management remuneration

The Board do not consider any one individual to have responsibility as key management.

Related parties

The Board comprises both director and employees o a principal funder of the charity. The Trustees have put policies in place to manage any conflict of interest.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

SC053033

Principal address

Independent Examiner

Gillespie & Anderson Chartered Accountants 147 Bath Street Glasgow G2 4SN

SCIO company number - CS006672

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 3

Donald Malcolm Foundation SCIO

Report of the Trustees for the Period 3 January 2024 to 31 January 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 17 September 2025 and signed on its behalf by:

Page 4

Independent Examiner's Report to the Trustees of Donald Malcolm Foundation SCIO

I report on the accounts for the period 3 January 2024 to 31 January 2025 set out on pages six to twelve.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

• (1) which gives me reasonable cause to believe that, in any material respect, the requirements

• to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

• to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Gillespie & Anderson Chartered Accountants 147 Bath Street Glasgow G2 4SN

17 September 2025

Page 5

Donald Malcolm Foundation SCIO

Statement of Financial Activities

for the Period 3 January 2024 to 31 January 2025

		Unrestricted
		fund
	Notes	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	2	182,250
EXPENDITURE ON
Charitable activities	3
Charitable Activities		118,950
NET INCOME		63,300
TOTAL FUNDS CARRIED FORWARD		63,300

The notes form part of these financial statements

Page 6

Donald Malcolm Foundation SCIO

		Balance Sheet
	31 January 2025
			Unrestricted
			fund
	Notes		£
CURRENT ASSETS
Debtors	7		6,900
Cash at bank			58,800
			65,700
CREDITORS
Amounts falling due within one year	8		(2,400)
NET CURRENT ASSETS			63,300
TOTAL ASSETS LESS CURRENT
LIABILITIES			63,300
NET ASSETS			63,300
FUNDS	9
Unrestricted funds			63,300
TOTAL FUNDS			63,300

The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2025 and were signed on its behalf by:

The notes form part of these financial statements

Page 7

Donald Malcolm Foundation SCIO

Notes to the Financial Statements

for the Period 3 January 2024 to 31 January 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', the Charities and Trustee Investment (Scotland) Act 2005 and the Scottish Charitable Incorporated Organisations Regulations 2011. The financial statements have been prepared under the historical cost convention.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There are sufficient cash resources and reserves at the year end to adopt the going concern basis in preparing its financial statements.

Presentation currency

The financial statements are presented in pound sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty

The Trustees have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Trustees estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations and legacies consists of donations, grants and legacies. Donations are recognised when the charity is entitled to the income, receipt of the income is probable and the amount can be measured reliably. Income from grants, not subject to performance related conditions, is recognised when the charity has entitlement to the funds, it is probable that the income will be received, the amount can be measured reliability and it is not deferred. Income from government grants is recognised when received as the accrual model is not permitted by the Statement of Recommended Practice. Legacy income is recognised when it is probable that it will be received.

Expenditure

Expenditure has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Expenditure is recognised on an accrual basis when a legal liability is incurred, payment of the liability is probable and the amount can be measured reliably. The amount includes any VAT which cannot be fully recovered. VAT is reported as part of the expenditure to which it relates.

Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct costs of charitable activities approved by the charity and all support costs relating to these activities. Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements. These costs are allocated entirely to charitable activities.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

continued...

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Donald Malcolm Foundation SCIO

Notes to the Financial Statements - continued

for the Period 3 January 2024 to 31 January 2025

1. ACCOUNTING POLICIES - continued

Allocation and apportionment of costs

Support costs are allocated wholly to charitable activities. Whilst the Trustees recognise that a small part of some items of expenditure included in support costs do relate to indirect governance costs, they are of the opinion that the time and costs involved in performing such an analysis outweigh the potential benefits arising from any such work.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Funds are classified as either unrestricted funds or restricted funds, defined as follows:

Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees' discretion to apply the funds.

Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal process, but still within the wider objects of the charity.

Financial instruments

The charity has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, debtors are stated at cost less losses for bad debts.

Creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, creditors are stated at cost.

Provision for liabilities

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

2. DONATIONS AND LEGACIES

Donations

£ 182,250

continued...

Page 9

Donald Malcolm Foundation SCIO

Notes to the Financial Statements - continued for the Period 3 January 2024 to 31 January 2025

3. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
	Grant
	funding of
	activities	Support
	(see note	costs (see
	4)	note 5)	Totals
	£	£	£
Charitable Activities	116,550	2,400	118,950

4. GRANTS PAYABLE

Charitable Activities The total grants paid to institutions during the period was as follows: Small grants Street Soccer Prince of Wales Hospice Team Jak Foundation Eden Valley Hospice Beaumond House Hospice St Andrew's Hospice St Vincent's Hospice Helen Rollason Ayrshire Hospice Myton Hospice St Cuthbert's Care Strathcarron Hospice Zoe's place children's hospice Edinburgh children's hospice Jessica's Helping Hand	£ 116,550
	£ 1,550 10,000 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500
	116,550

During the reporting period, the charity has awarded grants totalling £116,550 to 17 institutions.

5. SUPPORT COSTS

SUPPORT COSTS
	Governance
	costs
	£
Charitable Activities	2,400

continued...

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Donald Malcolm Foundation SCIO

Notes to the Financial Statements - continued for the Period 3 January 2024 to 31 January 2025

5. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:
Governance costs
	Charitable
	Activities
	£
Independent Examination Fee	2,400

6.	TRUSTEES' REMUNERATION AND BENEFITS
	There were no trustees' remuneration or other benefits for the period	ended 31	January 2025.
	Trustees' expenses
	There were no trustees' expenses paid for the period ended 31 January 2025.
7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				£
	Other debtors			6,900
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				£
	Other creditors			2,400
9.	MOVEMENT IN FUNDS
			Net
			movement	At
			in funds	31.1.25
			£	£
	Unrestricted funds
	General fund		63,300	63,300
	TOTAL FUNDS		63,300	63,300
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	182,250	(118,950)	63,300
	TOTAL FUNDS	182,250	(118,950)	63,300

Unrestricted Fund

The general fund represents funds to operate the core objectives of the charity.

continued...

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Donald Malcolm Foundation SCIO

Notes to the Financial Statements - continued for the Period 3 January 2024 to 31 January 2025

10. RELATED PARTY DISCLOSURES

There were no donations made to the Charity by Trustees during the period to 31 January 2025.

Page 12