DR SHEILA MILLAR-DANKS CHARITABLE TRUST
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
DR SHEILA MILLAR-DANKS CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025
| Page | |
|---|---|
| Trust Information | 1 |
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 4 |
| Receipts and Payments Account | 5 |
| Statement of Assets and Liabilities | 6 |
| NotestotheFinancialStatements | 7 |
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
TRUST INFORMATION FOR THE YEAR ENDED 5 APRIL 2025
Trustees: D Last MrsP Last Mrs E V Woollard Investment Manager: St. James's Place Unit 5 Snetterton Business Park Harling Road Snetterton Norwich Norfolk NR16 2JU
Solicitors: Prettys Solicitors LLP 6th Floor St Vincent House "1 Cutler Street Ipswich IP11UQ Independent Examiner: M J Mortimer FCA FCCA Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 OAJ
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED5 APRIL 2025
The trustees present their report together with the financial statements of the charity for the year ended 5 April 2025, which have been prepared on a receipts and payments basis. The financial statements have been prepared in accordance with the charity's constitution and applicable law.
Objectives and activities
The objects of the charity are to pay or apply the income or capital of the charity for the benefit of charitable institutions, that the trustees in their absolute discretion think fit.
The charity awards grants to charitable institutions. The trustees review applications for grants when received and grants are awarded at the trustees’ discretion. During the year £135,000 (2024: £226,000) was paid to charitable institutions.
The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Achievements and performance
During the year, grants totalling £135,000 (2024: £226,000) were awarded to charitable institutions under the terms of the Trust Deed. The grants have helped further the objectives and activities of these charitable institutions. No grants were awarded to individuals.
Financial review
The charity received funds under the Trust Deed, by way of the injection of an existing investment portfolio. These funds generate income, which is used for the purpose of grant making, in accordance with the objects set out above. The fund generated income of £68,562 (2024: £64,136) in the year to finance its charitable activities. In addition, disposal proceeds of 132,000 (2024: £224,000) were received from the sale of investments during the year. Direct charitable expenditure of £135,000 (2024: £226,000) was made in the form of grants to charitable institutions. At the financial year end, cash balances were £29,682 (2024: £36,730) and the total fair value of the investments held was £2,415,607 (2024: £2,471,290).
in accordance with the governing document, the trustees have the power to invest in such stocks, shares, investments and property as they see fit. The trustees engaged St. James's Place as Investment Manager. The policy is to adopt a low to medium risk investment strategy to protect, in absolute terms, the capital value of the fund whilst producing a sustainable and growing level of income, and also providing the potential for longer term growth of capital in real terms.
The charity holds reserves in the forms of investments to produce a sustainable and growing level of income, At the year end, the fair value of the investments held were £ 2,415,607 (2024: £2,471,290). income arising on these reserves can be used in accordance with the objects of the charity. The trustees have the power to convert these reserves into income.
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Structure, governance and management
The Dr Sheila Millar-Danks Charitable Trust is an unincorporated trust and is constituted under the Trust Deed dated 16 January 2006. The Trust is a registered charity (no. 1113906).
The power to appoint additional trustees is vested in the current trustees, and is exercisable in writing. Should new trustees be appointed, the existing trustees would take responsibility for their induction.
Reference and administration details
Dr Sheila Millar-Danks Charitable Trust (no. 1113906)
Principal address: Prettys Solicitors LLP 6th Floor Vincent House 1 Cutler Street Ipswich IP11UQ Trustees: D Last MrsP Last Mrs E V Woollard
The trustees declare that they have approved the trustees’ report above.
D Last ASL LoG Mrs rs PP LastLas onX _ <y_ . wee. Mirs E V Woollard Date! DOo\i\aerG
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DR SHEILA-MILLAR-DANKS CHARITABLE TRUST (no. 1113906)
Independent examiner's report to the trustees of the Dr Sheila Millar-Danks Trust
| report to the trustees on my examination of the financial statements of the above charity ("the Trust") for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ("the Act").
| report in respect of my examination of the Trust's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
- accounting records were not kept in accordance with section 130 of[the][Charities][Act;][or] 2. the financial statements do not accord with the accounting records.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
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M J Mortimer FCA FCCA Knights Lowe Ltd Chartered Accountants Crane Court 302 London Road ipswich Suffolk IP2 OAJ
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Receipts | ||||
| Interest | 1 | 29,828 | 33,470 | |
| Dividends | 1 | 38,734 | 30,666 | |
| Bank interest | - | - | ||
| 68,562 | 64,136 | |||
| Proceeds from sale of investments | 132,000 | 224,000 | ||
| Total receipts | 200,562 | 288,136 | ||
| Payments | ||||
| Grants | 2 | 135,000 | 226,000 | |
| Tax deducted at source | 1 | - | - | |
| Legal & professional fees | 4,048 | 4,155 | ||
| 139,048 | 230,155 | |||
| Purchase of investments | 68,562 | 64,136 | ||
| Total payments | 207,610 | 294,291 | ||
| Net (payments)/receipts | (7,048) | (6,155) | ||
| Cash funds | at 6 April 2024 | 36,730 | 42,885 | |
| Cashfunds | at5April2025 | 29,682 | 36,730 |
Approved by the Trustees and authorised for issue on 2o \s\2026 and signed on its behalf:
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES AT 5 APRIL 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash Funds | ||
| Cash at bankand in hand | 29,682 | 36,730 |
| Valuation | Valuation | |
| at 5 April | at 5 April | |
| 2025 | 2024 | |
| £ | £ | |
| Investments | 2,415,607 | 2,471,290 |
Investments
The net movement in the valuation of investments during the year comprises changes in market value, disposals and acquisitions funded both from the Trusts resources and externally.
| Liabilities | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| Professional | fees | 1,125 | 1,090 |
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DR SHEILA MILLAR-DANKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025
1. INCOME
| Gross | Taxdeducted at source |
; Net income |
||
|---|---|---|---|---|
| £ | £ | £ | ||
| Investments - St James's Place | ||||
| Interest | 29,828 | - | 29,828 | |
| Dividends | 38,734 | - | 38,734 | |
| 68,562 | - | 68,562 | ||
| 2. | GRANTS | |||
| £ | ||||
| Suffolk Prickles Hedgehog Rescue | 10,000 | |||
| Cats Protection | 3,000 | |||
| PDSA | 5,000 | |||
| Blue Cross | 55,000 | |||
| RSPCA | 55,000 | |||
| Woodgreen Animal Sanctuary | 7,000 | |||
| 135,000 |
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