2025-07-31-accounts - The Millennium Oak Trust

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REGISTERED CHARITY NUMBER: 1083384

: :

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 31 July 2025

for

Millennium Oak Trust

Fuller Spurling Mill House 58 Guildford Street Chertsey Surrey KT16 9BE

Millennium Oak Trust

Contents of the Financial Statements For The Year Ended 31 July 2025

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Millennium Oak Trust

Report of the Trustees For The Year Ended 31 July 2025

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The trustees present their report with the financial statements of the charity for the year ended 31 July 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

The charity is a non-political, non-religious, British charity engaged in the relief of persons in conditions of need, hardship and distress; the relief of sickness and the preservation and protection of good physical and mental health; the advancement of education; and any charitable purpose for the general benefit of the public.

The Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

The objectives of the Trust are:

The relief of persons in conditions of need, hardship and distress.
The relief of sickness and the preservation and protection of good physical and mental health.
The advancement of the education of the public.
Any charitable purpose for the general benefit of the public.

Our objectives for the year were to make donations to various charities and organisations which provided a benefit to the general public, these included:

Aviation Environment Federation Knowl Hill Foundation Woking Hospice (Sam Bear) Shooting Star Children's Hospices Ukraine Appeal Whale and Dolphin Conservation The Rhona Sailing Trust Ist Ash Vale Scouts Ambitious about Autism Wildlife Trust - Rothbury Estate for Nature and the Nation project Habitat for Humanity Shooting Star Children's Hospice (Christophers) My Death My Decision

NSPCC Amnesty Bloodwise Water Aid Greenpeace Shelter Ramblers Campaign for Rural England Woodland Trust Médecins Sans Frontiéres Book Trust CRISIS UK charity for single homeless Step and Stone The Bureau of Independent Journalism Brainwave Down's Syndrome Association Wildlife Aid Foundation The Cystic Fibrosis Trust

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Millennium Oak Trust

Report of the Trustees For The Year Ended 31 July 2025

OBJECTIVES AND ACTIVITIES Objectives (cont'd) Shooting Star Children's Hospice RNLI RSPCA SANDS Cancer Research British Heart Foundation Save The Children Brain Tumour Research Aspire Academy Trust Peninsula Medical Foundation FOLWC Community CIO Wadebridge Leisure Center CIC Surf Cerrito CIC BWA Loving Humanity HACAN Clearskies

AIMS

The Trustees feel that the aims of the Trust have been satisfied in respect of the nature of the above donations. We donated to a total of 47 different organisations, all of whom act for the benefit of the general public.

FINANCIAL REVIEW Financial position position

| Financial position position 7 The results for the year are shown in the attached Statement of Financial Financial Activities which show income for the year of £286,588 (2024: £273,006). : The charity donated a total of £354,500 (2024: £266,000) to other charities and organisations during the year. Its : wholly owned subsidiary, Swans Ltd, continues to donate as much of its profit as possible to the charity. ; Principal funding sources : Swans Ltd is the wholly owned subsidiary of the charity and profits from this company are donated to the charity for its 7 use. The Swans property portfolio is worth in excess of £2million and property rentals are its source of income. : The charity also owns a mixed commercial and residential property which is let out at a commercial rent to independent third parties.

The results for the year are shown in the attached Statement of Financial Financial Activities which show income for the year of £286,588 (2024: £273,006).

Reserves policy

The Trustees aim to keep a minimum amount back to ensure the daily running costs of the charity are covered. There is a reserves policy of keeping cash funds amounting to the projected donations for one year in advance.

FUTURE PLANS

As per our objectives for this year we will continue to make donations to various charities and organisations which provided a benefit to the general public.

The trustees are happy to consider an additional trustee to join the MOT trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Charity is constituted as a Trust and its governing document is its Trust Deed dated 14th September 2000.

Recruitment and appointment of new trustees

Trustees are selected and invited to join the Board of Trustees by existing Trustees and the appointment of Trustees is vested with the Trustees. Existing Trustees can recommend the appointment of a new Trustee at any time.

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Millennium Oak Trust

Report of the Trustees For The Year Ended 31 July 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The day to day management of the charity, as designated by the Trustees, is undertaken by one of the Trustees in conjunction with an appointed paid administrator Jane Ewers.

The Trustees meet on a four monthly basis, either in person or by electronic conference. A report of the financial situation of the charity including a profit and loss update is given to all Trustees. All Trustees are encouraged to donate funds from the charity to other charities or organisations etc, as per the objects of the Trust Document. Trustees give details of their nominations to the Trustees and if all Trustees are in agreement then the donation goes ahead. At these meetings the Trustees agree broad strategy and areas of activity, including a review of investment, reserves and risk management. Induction and training of new trustees A potential Trustee is invited to become a Trustee and the aims of the Charity are explained in detail. Copies of annual reports and accounts and a copy of the governing trust deed and the Charity Commission's guidance, The Essential Trustee, are made available to potential Trustees. The potential Trustee is then invited to a normal board meeting and introduced to the rest of the Trustees and unless there are any objections is invited to join the charity as a Trustee, after the meeting.

It is recommended that all Trustees read the relevant Charity Commission guidelines and the responsibilities of a Trustee are clearly defined under these guidelines. (ICSA guide ‘Recruitment Appointment and Induction of Charity Trustees’).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1083384

Principal address

Merryn Cottage Westhay Road Wrington Bristol BS40 5QA

Trustees N M Roads A K Roads DS Roads A Armiger

Independent Examiner M T C Harvey Fuller Spurling Mill House 58 Guildford Street Chertsey Surrey KT16 9BE Solicitors Trevor Munn Easterly Boathouse The Towpath Manor Road Walton on Thames Surrey KT12 2PF

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Millennium Oak Trust

Report of the Trustees For The Year Ended 31 July 2025

REFERENCE AND ADMINISTRATIVE DETAILS Bankers Triodos Bank Deanery Road Bristol BS1 5AS

Approved by order of the board of trustees on pec 2S | and signed on its behalf by:

A K Roads - Trustee

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Independent Examiner's Report to the Trustees of

Millennium Oak Trust

Independent examiner's report to the trustees of Millennium Oak Trust

I report to the charity trustees on my examination of the accounts of Millennium Oak Trust (the Trust) for the year ended 31 July 2025.

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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1, accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2: the accounts do not accord with those records; or
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.

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M T C Harvey
MiFu ll erHouse Spurling eeMule ——
58 Guildford Street
Chertsey
Surrey
KT16 9BE
Date: IR 2028
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Millennium Oak Trust

Statement of Financial Activities

For The Year Ended 31 July 2025

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||||||| |---|---|---|---|---|---| |31.7.25|31.7.24| |Unrestricted|Total| |fund|funds| |Notes|£|£| |INCOME AND ENDOWMENTS|FROM| |Donations and|legacies|262,499|250,001| |Investment|income|2|24,089|23,005| |Total|286,588|273,006| |EXPENDITURE ON| |Charitable|activities| |Chanitable|activites|358,972|279,830| |Net|gains/({losses)|on|investments|(8,988)|-| |NET INCOME/(EXPENDITURE)|(81,372)|(6,824)| |RECONCILIATION OF FUNDS| |Total|funds brought|forward|1,952,690|1,959,514| |TOTAL FUNDS CARRIED FORWARD|1,871,318|1,952,690|

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The notes form part of these financial statements

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Millennium Oak Trust

Balance Sheet

31 July 2025

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|||||| |---|---|---|---|---| |31.7.25|31.7.24| |Unrestricted|Total| |fund|funds| |FIXED ASSETS|Notes|£|£| |Investments| |Investments|5|1,500,001|1,500,001| |Investment property|6|215,000|223,988| |1,715,001|1,723,989| |CURRENT|ASSETS| |Cash|at|bank|157,862|229,886| |CREDITORS| |Amounts|falling due within one year|7|(1,545)|(1,185)| |NET CURRENT ASSETS|156,317|228,701| |TOTAL ASSETS|LESS CURRENT| |LIABILITIES|1,871,318|1,952,690| |NET ASSETS|1,871,318|1,952,690| |FUNDS|8| |Unrestricted|funds|1,871,318|1,952,690| |TOTAL FUNDS|1,871,318|1,952,690|

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The. financial statements. were approved by the Board of Trustees and authorised for issue on AARE...ZAP Zand were signed on its behalf by: AK Roads - Trustee

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A Armiger - Trustee
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The notes form part of these financial statements

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Millennium Oak Trust

ACCOUNTING POLICIES

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Notes to the Financial Statements For The Year Ended 31 July 2025

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 (FRS 102) ‘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), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Rental income is recognised in the Statement of Financial Activities as the rents become due for payment, less any provision for rents unlikely to be received.

Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity 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 classified under headings that aggregate all cost 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 resources,

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.

Investment in subsidiary

Investments in subsidiary companies are recognised at cost, less any impairment. Impairment reviews are carried out by the Trustees to determine whether any provision for reduction in value should be made.

Investment property

Investment property is initially measured at cost when purchased or donated. Thereafter it is shown at most recent valuation carried out by independent, qualified, third parties. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of financial activities and total funds carried forward.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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Millennium Oak Trust

Notes to the Financial Statements - continued

For The Year Ended 31 July 2025.

i, ACCOUNTING POLICIES - continued

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds 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 settlement amount after allowing for any trade discounts due.

Financial Instruments

Other than Investment Properties (see above), the Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.

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|||||| |---|---|---|---|---| |INVESTMENT INCOME| |31.7.25|31.7.24| |£|£| |Rents|received|16,327|16,560| |Deposit|account|interest|7,762|6,445| |24,089|23,005|

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? 3. TRUSTEES' REMUNERATION AND BENEFITS : There were no trustees! remuneration or other benefits for the year ended 31 July 2025 nor for the 31 July 2024. | Trustees’ expenses | There were no trustees’ expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024, : 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES : INCOME AND ENDOWMENTS FROM AND ENDOWMENTS FROM ENDOWMENTS FROM FROM | Donations and legacies legacies

There were no trustees! remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

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||||| |---|---|---|---| |Unrestricted| |INCOME AND ENDOWMENTS FROM AND ENDOWMENTS FROM ENDOWMENTS FROM FROM| |Donations|and legacies legacies|250,001| |Investment|income|23,005| |Total|273,006| |EXPENDITURE ON| |Charitable|activities| |Charitable|activites|279,830| |NET INCOME/(EXPENDITURE)|(6,824)| |RECONCILIATION OF FUNDS| |Total|funds brought|forward|1,959,514| |TOTAL FUNDS CARRIED FORWARD|1,952,690|

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Millennium Oak Trust

Notes to the Financial Statements - continued For The Year Ended 31 July 2025

5. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTSASSET INVESTMENTSINVESTMENTS
	Shares in
	group
	undertakings
	£
COST LESSIMPAIRMENT
At 1 August2024 and 31 July2025	1,500,001
NETBOOKVALUE
At 31 July2025	1,500,001
At31July2024	1,500,001

There were no investment assets outside the UK.

The investment represents the 100% shareholding in Swans Ltd. The Trustees carry out impairment reviews and make any necessary impairment provision to reduce the value carried forward.

INVESTMENT PROPERTY

INVESTMENT PROPERTYPROPERTY
	£
COSTLESSIMPAIRMENT
At 1 August2024 Revaluation	223,988 (8,988)
At 31 July2025	215,000
NETBOOKVALUE
At 31 July2025	215,000
At31July2024	223,988

The charity owns two properties, which are leased charity.	on a commercial basis and rental income is received by the	on a commercial basis and rental income is received by the
The properties were valued by an independent valuer holding a recognised and relevant qualification at theendoftheyear. Therewasnochange invalue intheyear.		professional
COSTLESSIMPAIRMENT at 31 July2025 isrepresented by:
		£
Valuation in2020 Valuation in2021 Valuation in2025 Cost		(14,886) 13,874 (8,988) 225,000
		215,000

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Millennium Oak Trust

‘

Notes to the Financial Statements - continued For The Year Ended 31 July 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |7,|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR| |31.7.25|31.7,24| |£|£| |Other creditors|1,545|1,185| |8.|MOVEMENT|IN FUNDS|.| |Net| |movement|At| |At|1.8.24|in|funds|31.7.25| |£|£|£| |Unrestricted|funds| |General|fund|1,952,690|(81,372)|1,871,318| |TOTAL FUNDS|1,952,690|(81,372)|1,871,318| |Net movement|in|funds,|included|in|the|above|are as|follows:| |Incoming|Resources|Gains|and|Movement| |resources|expended|losses|in|funds| |£|£|£|£| |Unrestricted|funds| |General|fund|286,588|(358,972)|(8,988)|(81,372)| |TOTAL FUNDS|286,588|(358,972)|(8,988)|(81,372)| |Comparatives|for movement|in|funds| |Net| |movement|At| |At|1.8.23|in|funds|31.7.24| |£|£|£| |Unrestricted|funds| |General|fund|1,959,514|(6,824)|1,952,690| |TOTAL FUNDS|1,959,514|(6,824)|1,952,690|

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Comparative net movement in funds, included in the above are as follows:

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|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|273,006|(279,830)|(6,824)| |TOTAL FUNDS|273,006|(279,830)|(6,824)|

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Millennium Oak Trust

Notes to the Financial Statements - continued For The Year Ended 31 July 2025

9. RELATED PARTY DISCLOSURES

Mr A Roads was a Trustee of The Friends of Wadebridge Sports and Leisure Centre (FOWLC) until May 2025, Donations made to this charity within the year under review amounted to £10,000,

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