MILL HILL SCHOOL SCHOLARSHIPS
AND BURSARIES TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
REGISTERED CHARITY NO. 1042028
TRUSTEES' REPORT MILL HILL SCHOOL SCHOLARSHIPS & BURSARIES TRUST
REGISTERED CHARITY NO: 1042028
Trustees: Mr R Eliott Lockhart Mr E Lipton Ms M Bassingthwaite Registered address: Walker House, Millers Close, Off The Ridgeway Mill Hill, London NW7 1AQ Independent Examiner: Tracey Young ACA HaysMac LLP Chartered Accountants 10 Queen St Place London EC4R 1AG
Bankers: National Westminster Bank, Mill Hill, London
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
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The Trust was created by a Declaration of Trust dated 19 March 1994 with the purpose of holding the Trust Fund and its income, for Scholarships & Bursaries at Mill Hill School. The Trustees are nominated to hold office for 5 years by the Governors of Mill Hill School.
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Awards are made by the Trustees on the recommendation of the Head of the School for Entrance Scholarships tenable for up to five years and for Bursaries to assist pupils whose parents cannot afford the necessary fees awardable on entrance or as continuation awards.
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The Mill Hill School Scholarships & Bursaries Trust made awards of £nil in the year (2023: £16,740).
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There is no reserves policy on the Mill Hill School Scholarships & Bursaries Trust accounts.
Approved by the Trustees
Elliot Lipton
Date: 25/06/2025
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MILL HILL SCHOOL SCHOLARSHIPS & BURSARIES TRUST Registered Charity No: 1042028
RECEIPTS AND PAYMENTS ACCOUNTS For the year ended 31 August 2024
| Fitzgerald | Scholarships | Year ended | Year ended | ||
|---|---|---|---|---|---|
| Sport | & | 31-Aug-24 | 31-Aug-23 | ||
| Bursary | Bursaries | Total | Total | ||
| £ | £ | £ | £ | ||
| 1 | Receipts | ||||
| Interest and dividends on investments | 13,924 | 31,541 | 45,465 | 45,117 | |
| Total Receipts | 13,924 | 31,541 | 45,465 | 45,117 | |
| Payments | |||||
| Bursaries awards | - | - | - | 16,740 | |
| Total Payments | - | - | - | 16,740 | |
| Net Receipts for the year | 13,924 | 31,541 | 45,465 | 28,377 | |
| Bank Balance at 1 September | 3,760 | 32,295 | 36,055 | 7,678 | |
| Bank Balance at 31 August | 17,684 | 63,836 | 81,520 | 36,055 | |
| Fitzgerald | Scholarships | Market | Market | ||
| Sport | & | value | value | ||
| Bursary | Bursaries | As at | As at | ||
| £ | £ | 31-Aug-24 | 31-Aug-23 | ||
| Total | Total | ||||
| £ | £ | ||||
| 2 | Statement of Assets & Liabilities | ||||
| Assets | |||||
| Investments: Endowment Fund | |||||
| Held for Investment purposes | |||||
| Charities Official Investment Fund | 517,108 | 1,171,339 | 1,688,447 | 1,563,530 | |
| Income shares 82,814 (2023: 82,814) | |||||
| Cost value £730,650 (2023: £730,650) | |||||
| Liabilities | - | - | - | - |
3 Post balance sheet events
The charity is currently in the process of transferring its investments, with other associated trusts, into a single Charitable Incorporated Organisation (CIO). This restructuring is being undertaken to streamline governance and improve operational efficiency. We expect this to be completed by 31 August 2025, at which point the activities, assets, and liabilities of this trust will be transferred to the new CIO, The Mill Hill Schools Trust (1201923).
Approved by the Trustees
Elliot Lipton
Date: 25/06/2025
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MILL HILL SCHOOL SCHOLARSHIPS & BURSARIES TRUST REGISTERED CHARITY NO: 1042028
I report to the trustees on my examination of the accounts of the Mill Hill School Scholarships and Bursaries Trust ("the Trust") for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe, that in any material respect:
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1) the accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records.
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3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tracey Young ACA
For and on behalf of HaysMac LLP
Chartered Accountants 10 Queen St Place London EC4R 1AG
Date: 27/06/2025
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