DR SHEILA MILLAR-DANKS.CHARITABLE TRUSt UNAUDITED FINANCIAL STATEMENTS FOR THÉ YEAR ENbED 5 APRIL 2024
DR SHEILA MILLAR.DANKS CHARITABLE TRUSt CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Pa8e Trust Informatlon Trustees, Annual Report Ree¢lpts ahd PayMeh¢s Aecoilttt Statement of Assets and Llabllltles Notes to the Èlnanclal Statement$
DR SHEILA MILLAR-DANKS CHARITABLE TRUST TRUST INFORMATION FOR THE YEAR ENDED 5 APRIL 2024 Trustees: D Last Mrs P Last Mrs E V Woollard Investment Manager: St. James's Place Unit 5 Snetterton Business Park Harllng Road Snetterton Norwlch Norfolk NR16 2JU Sollcltors: Prettys Sollcitors LLP 6th Floor St Vincent House I Cutler Street Ipswlch Ipi iuo Independent Examlner: M J Mortlmer FCA FCCA Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road Ipswlch Suffolk IP2 OAJ Page I
DR SHEILA MILLAR-DANKS CHARITABLE TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 5APRIL 2024 The trustees present thelr report together wlth the flnanclal statementsof the charlty for the year ended 5 April 2024, whlch have been prepared on a recelpts and payments basis. The flnancial staternents have been prepared In accordance wlth the charlty's constitutlon and appllcable law. Objectlves and actlvltles The object5 of the charity are to pay or apply the Income or capltal of the charlty for the beneflt of charltable Instltutlons, that the trustees In thelr absolute dlscretlon thlnkflt. The charity awards grants to charltable Instltutlons. The trustees revlewapplicatlons for grants when recelved and grants are awarded at the trustees, dlscretion. Durlng the year£226,00012023: £75,882) was pald to charltable Instltutlons. The trustees have had regard to the guldance Issued by the Charlty Comnlsslon on publlc beneflt. A¢hlevements and performance Durlng the year 5 grants12023: 6) totalllng £ 226,000 (2023: £75.882) were awarded to charltable Snstitutlons under the terms of the Trust Deed. The grants have helped further the objectlves and actlvltles of these charltable Instltutlons. No grants were awarded to IndIdual$. Flnanclal revlew The charlty recelved funds under the Trust Deed, by way of the Injectlonof an exlstlng Investment portfolio. These funds generate Income, whlch Is used for the purpose ofgrant makin& In accordance wlth the objects set out above. The fund generated Income of £64,13612023: £56,579) In the year to flnance Its charltable actlvltles. In addltlon, dlsposal proceeds of £224,OOL) (2023: £80,000) were recelved from the sale of Investments durlng the year. Dlrect charltable expendlture of £226,000 (2023: £75,882) was made In the form of grants to charltable Instltutlons. At the flnanclal year end, cash balances were £36,730 {2023: £42,885) and the total falr value of the Investments held was £2,471,290 {2023: £2,495,311). In accordance with the governing document, the trustees have the power to Invest In such stocks, shares, investments and property as they see flt. The trustees engaged St. Jarnes's Place as Investment Manager. The policy Is to adopt a low to medlum rlsk Investment strategy to protect, In absolute terms, the capital value of the fund whllst produclng a sustainable and growlng level of Income, and also provldlng the potentlal for longer term growth of capltal In real terms. The charlty holds reserves in the forms of investments to produce a sustslnable and growlng level of Incorne. At the year end, the falr value of the Investments held were £ 2,471,29012023: £2,495,311). Incorne arlslng on these reserves can be used In accordance wlth the objects of the charlty. The trustees have the power to convert these reserves into Income. Page 2
Structure. governance and management The Dr Sheila Millar-Danks Charitable Trust Is an unincorporated trust and is constltuted under the Trust Deed dated 16 January 2006. The Trust is a registered charlty (no. 1113906). The power to appolnt addltlonal trustees Is vested in the current trustees. and Is exerclsable In wrltlng. Should new trustees be appolnted, the existing trustees would take responsibilityforthelr induction. Reference and admlnlstratlon detalls Dr Sheila Mlllar-Danks Charltable Trust (no. 1113906) Prlnclpal address: Prettys Sollcltors LLP 6th Floor Vlncent House I Cutler Street Ipswlch Ipi iuo Trustees: D Last Mrs P Last Mrs E V Woollard The trustees declare that they have approved the trustees, report above, D Last Mrs P Last Mrs EV Woollard Date: IC>1 1I2S Page 3
DR SHEILA MILLAR-DANKS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE DR SFIEILA-MILLAR-DANKS CHARITABLE TRUST (no. 1113906) Independent examTner's report to the trustees of the Dr Shella Mlllar-Danks Trust I report to the trustees on my examination of the financial statementsof the above charlty ("the Trust") for the year ended 5 April 2024. Responslbllltles and basls of report As the charity trustees of the Trust, you are responslble for the preparation of the financlal statements In accordance with the requlrements of the Charities Act 2011 ("the Act"). I report in respect of my examlnation of the Trust's financlal statements carried out under section 145 of the 2011 Act and In carrylng out my examlnation, I have followed the appllcable Dlrections given by the Charlty Commlsslon under sectlon 145{5){b) of the Act. Independent examlner's statement I have completed my examinatlon. I conflrm that no material matters have come to my attentlon In connection with the examlnatlon whlch glves me cause to belleve thatin any materlal respect: l. accounting records were not kept In accordance wlth sectlon 130 of the Charitles Act; or 2. the financlal statements do not accord wlth the accountlng records. I have no concerns and have come across no other matters In connectlDn wlth the examinatlon to whlch attentlon should be drawn in order to enable a proper understanding of the financlal statements to be reached. M J Mortlmer FCA FCCA Knlghts Lowe Ltd Chartered Accountants Crane Court 302 London Road I pswich Suffolk IP2 OAJ Page 4
DR SHEILA MILLAR-DANKS CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Note Recelpts Interest Dividends Bank Interest 33,470 30,666 31,317 25,262 64,136 56,579 Proceeds from sale of investments 224,000 80,000 Total recelpts 288,136 136,579 Payments Grants Tax deducted at source Legal & professlonal fees 226,000 75,882 4,155 230,155 3,148 79,030 Purchase of Investments 64,136 56,579 Total payments 294,291 135,609 Net (payments)/recelpts (6,155) 970 Cash funds at 6 Aprll 2023 42,885 41,915 Cash funds at 5 Aprll 2024 36,730 42.885 Approved by the Trustees and authorised for issue on and slgned on Its behalf: D Last Mrs P Last Mrs E V Woollard Page 5
DR SHEILA MILLAR-DANKS CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES AT 5 APRI L 2024 2024 2023 Cash Funds Cash at bank and In hand 36,730 42.885 Valuatlon at S Aprll 2024 Valuatlon at 5 Aprll 2023 Investments 2,471,290 2A95,311 The net movement in the valvatlon of investments during the year comprlses changes In market value, dlsposals and acqulsitions funded both from the Trusts resources and externally. Llabllltles 2024 2023 Professional fees 1,090 1,097 Page 6
DR SHEILA MILLAR-DANKS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 INCOME Tax deducted at source Gross Net Income Investments - St James's Place Interest Dividends 33,470 30,666 33,470 30,666 64,136 64,136 GRANTS Suffolk Prlckles Hedgehog Rescue Cats Protectlon PDSA Blue Cross RSPCA 2,000 4,000 5,000 180,000 35,000 226,000 Page 7