Charity number: 1128056
THE MILL CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

THE MILL CHARITABLE TRUST
CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers
Trustees. report
Independent auditor's report
statement of flnanclal actlvltles
Balance sheet
io
Statement of cash flows
Notes to the financial statements
12-19

THE MILL CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF
THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Ms P Panayiotou
Mr C D Organ
Mr S Marf<s
Charity registered
number
1128056
Prlnclpal offlce
Elsley Court
20-22 Great Titchfield Street
London
WIW 8BE
Secretary
Ms P Panayioto
Independent auditor
Robert Barry Perez (Senior Statutory ALtdltor)
Silver Levene IUKI Ltd
Accountants
37 Warren St
Fitzrovi
London
WIT 6AD
Bankers
National Westminster Bank plc
208 Piccadllly
London
WIA 2EIG
Solicitor5
Russells
Yaldlng House
152-156 Great Portland Street
London
WIW 5QA

THE MILL CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustee5 present their annual report together with the audited flnanclal statements of the Charlty for the
vear ended 31 March 2023.
The accounts have been prèpared in accordance with the accounting policies set out in note I to the
accounts and comply with the governing document, the Charities Act 2011 and Accounting and Reporting bv
Charltles.. Statement of Recommended Practise applicable to charities preparing their account5 In accordanc
with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FR5 102) {as amended
for accounting periods commencing frtsm I lanuary 20161.
Objectives and Activities
a. Policies and ob5tttives
The trustees objectlves are to benefit such exclusively charitable PL¢rposes in any part of the wodd as the
trustees In their absolute discretion think fit, provided that such purposes are recognised as charitable
èccording to English law.
The trustees have paid due regard to guidance Issued by the Charlty Commi5sitsn in deciding what activities
the trust should undertake.
The principal policy adopted by the trust is to consldèr all request ft)r aid and donations, which are reviewed
by the trustees to ensure that deservlng cases are given their assistance.
Achievements and performance
a. Factors relevant to achieve objectives
In the current year the charity received a donation from Aobobuild Limited of £992.894 {2022 - É431,2271,
from Big Geoff Overseas Limitecl of £375,000 12022 £625,000) and from Wham Music Limited of £500.000
12022 - £NIL). legacies and bequests of £7,424 {2022 £NILI and bank interest of E722 12022 £430).
Financial review
a. Reserve5 policy
It is the policy of the trust to maintain unrestricted funds, which are the free reserves of the charity, at a
level sufficient to respond to emergency appllcations for grant5 which arise frorr time to time and to cover
governance costs.
structurei governance and management
Constitution
The Trust was established by a charitable trust deed on 29 January 2009.
The trustees who served during the year were..
P Panayioto
C D Organ
S Marks

THE MILL CHARXTA8LE TRUST
TRUSTEES. REPORT (¢ontlnued)
FOR THE YEAR ENDED 31 MARCH 2023
b. Method of appointment or election of Trustee5
The recrultment and appolntment of new trustees is agreed by the exlsting trustees at the Annual General
Meeting.
Trustees a￿ nominated by the Settlor and appointed by the board of trustees and shall offer to retire and
seek reappointment by rotatlon annually.
Mr C D Oryan has been appolntèd as chalmian of the trustees until the conclusion of the next Annual
General Meeting.
Ms P Panayiotou was appolnted trust secretary on 8th July 2021. The trust secretary continues to run the
day-to-day work of the trust, including assessing grant applications and intèrvièwing Individual grant
applicants. She meets periodically with the other trustees to approve all grants annually. Fund5 made
available for distribution during the financial year 202212023 have been allocated as anticipated to honour
exksting commitments.
c. Risk management
The trustees have assessed the major risks to whlch the Charfjty Is exposed, in particular those rèlated to the
operations and finances of the Charity, and are satisfied that systems and procedures are in place to
mitigate our exposure to the major risks.
Funds held as custodian
No funds are held as a custodian.
Trustees. responsibilitles statement
The trustee5 are ￿spOnSible for preparing the Trustees. report and the firhancial statements in accordan
with applicable law and the Charitles Statement of Recommended Practice IFRS 1021.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming
resources and application of resources of the Charity for that perfod. In preparfing these flnancial statements,
the trustee5 are required to..
select suitable accounting policies and then apply them consi5tently,'
obseNe the methods and principles In the Charities SORP:
make judgements and accounting estimates that are reasonable and pnjdent,.
stste whether applicable UK Accounting Standard5 have been followed. subject to any material
departures disclosèd and explained in the financial statements,.
prepare the finaftclal statements on the golng con￿rn basis unless it is inappropriate to presume that
the Charity will continue in operation.

THE MILL CHARITABLE TRUST
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
The tnjstees are responsible for keeping proper accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the fJn3ncial posltion of the
Charity and enable them to ensure that the financial 5tatement5 comply with the Charities Act 2011, the
Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are a150
responslble for safeguardlng thè as5et5 of the Charity and hence for taking reasonable steps for the
prevention and detection of fraLJd and other irregularities.
as approved by the trustees, on 2210112024 and signed on their behalf by..
Thi
C D Organ
Trustee)

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MILL CHARITABLE TRUST
Opinion
We have audited the financial statements Df The Mill Charitable Trust Ithe 'charity'l for the year ended 31
March 2023 which comprise statement of financial activities, balance sheet, statement of cash flows and
notes to the financlal statements, Includlng a summary of significant accounting policies.
The financial ￿PortIng framework that has been applied in their preparatlon is applicable law and United
Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion, the financial statements..
glve a true and fair view of the state of the Charity's affairs as at 31 March 2023 and of its incoming
resources and application of resources for the year th&n ended,.
have been properly pr@pared in accordance wlth United Kingdom Generally Accepted Accounting
Practlce,. and
have been prepared in accordance with the requlrements of the Charltles Act 2011.
Basis for opinion
We conducted our audit In accordance wlth Intematlonal Standards on Auditing (UK) IISAS (UK)) and
applicable law. Our responsibilities under those standard5 are furthèr described In the Auditor's
responsibllities for the audit of the financial statements section of our report. We are independ&nt of the
charity in accordance with the ethical requlremènts that are relevant to our audit of the financial statements
In the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirement5. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditlng the financlal statements, we have concluded that the trustees, use of the golng concÈm basls of
accounting in the p￿ParatIon or the flnanclal statements Is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relating to events
or cc*nditir*ns that, individually or collertively. may cast significant doubt on the charity's ability to continue
as a going concern for a period of at least twelvè months from when the financial statements are authori5ed
for issue.
Our responsibilities and the responsibilities of the tnJstee5 Wlth respect to going concern are described in the
relevant sections of this report.
Other information
The other inft)rmatlgn comprises the information induded in the annual report other than the financlal
statements and our auditor's report thereon. The trustees are responsible for the othér Infomatlon
contained within the annual report. Our oplnlon on the financial statements does not cover the other
information and, except to the extent otherwise explicitly stated in our report, we do not express any forni
of assurance corKlusion thereon.
Our responslbility is to read the other information and, in doing so, consider whether the other information is
rnaterially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or
otherwise appears to be materfally mlsstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to deterrnine whether this gives rise to a material misstatement in
the financial statements thern5elves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other infomation, we are required to report that fart.
We have nothing to report in this regard.

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MILL CHARITABLE TRUST
Matters on which we are required to report by except(on
We havè nothing to report in respect of the following matters in relatbon to which the Charities (Accounts
and Reports) Regulations 2008 reqLJire us to report to you if, in our opinion:
the informatiorb given in the trustees, report is inconsistent in any material respect with the financial
statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and return5; or
we have not rècelved all the infomation and éxplanation5 we require for our audlt.
Responsibilities of trustees
A5 explained more fully in the trustees. responsibilitie5 Statement set out on page 3, the trustees are
responsSble for the preparètion of the financial 5tatem@nts and for being satisfied that they give a true and
fair view, and for such internal contrDI as the trustees determine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due tts fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing. as applicable. matters related to going concern and using the going
concern basis of accounting unless the trusteès either intend to liquidate the charity or to cease operatbons,
or have no realistic alternative but to do so.

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MILL CHARITABLE TRUST
Auditor's responsibilities for the audit of the financial statem¢nt
We have been appointed a5 auditor under section 144 of the Charities Act 2011 and report in accordance
with the Art and relevant regulations made or having effect thereunder.
Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are
free from Material mi5Statement. whether due to fraud or error, and to issue an audltor's report that
includes our opinion. Reasonable assurance Is a hlgh level of assurance but is not a gLtarantee that an audit
conducted in accordance wlth ISAS {UK) will always detect a material misstatement when It exists.
Misstatements can arise from fraijd or error and are considered material If. individually or in the aogregate.
they could reasonably be expeoted to influenc@ the economic declsions of users taken on the basis of these
financial statements.
The extent to which our procedures are capable of detecting Irregularities, induding fraud is deta11￿ below..
Discussions weré held with, and enquiries made of, management and the trustees with a view to identifying
those laws and regulatlons that could be expected to have a material impact on the financlal statements.
Durlng the engagement team briefing, the outcomes of these discussions and enquiries were shared with the
team, as well as consideration as to where and how fraud may occur in the charity.
The followlng laws and regulatlons were identified as being Df significance to the entity..
Those laws and regulations considered to have a direct effect on the flnanclal statements include the
Charities SORP IFRS102), Charltles Act 2011 and General Data Protection Regulation.
It 15 conside￿d that. other than Charities Act 2011, there are no laws and regulatlons for which non-
compliance may be fundamental to the operating aspects of the busines5.
Audit procedures undertaken in ￿SpOnSe to the potential risks relating to irregularitie5 (which include fraLJd
and non-complian￿ with laws and regulations) comprised of.. InquI￿eS of management and those charged
with govemarbce as to whether the entity complies with such laws and regulation5; enquiries with the same
concerning any actual or potential litigatitsn or claSms,' testing the appropriatene55 of èntries In the nominal
ledgèr, Includlng Journal entries,. and reviewing transaction5 aroun(5 the end of the reportlng period which
may be indicative of fraud.
No instances of materlal non-compliance were identified. However, the likelihood of detecting irregtjlarities,
including fraud, is limited by the inhèrent difficulty in detecting irr&gularities, the effectiveness of the
charity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that
result from fraud might be Inhèrently more dlfficult to detect than irregularities that result from error.
explalned above, there is an unavoidable risk that Enaterial misstatements may not be detected, even
though the aLJ(Jit has been planned and performed in accordan￿ with JSAs IUKI.
A further description of our responsibilities for the audlt of the flnanclal statements is located on the
Financial Reporting Councll's website at.. www.frc.org.uKlauditorsresponsibilities. Thi5 description forms part
of our auditorfs report.
Use of our report
Thls report Is made solely to the charity's trustees, as a body, bn aecordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been Lsndertaken so that we might state to the
charity'5 trustees those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent pemiltted by law, we do not accept or assume responsFbility to anyone other
than the charity and its truste&s as a body, for our audit work. for this report, or for the opinions we have
formed.

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MILL CHARZTABLE TRUST
Robert Barry Perez {Senior Statutory Auditor)
Silver Levene IUKI Ltd
Chartered Certified Accontants
37 Warren St
Fltzrovia
London
WLT 6AD
Date..
31 January 2024
Robert Barry Perez (Senior Statutory ALsditor) 15 eligible fr>r appointment as auditor of the charity by virtue of
Its eligibility for appointment as auditor of a company under section 1212 of the Companles Act 2006.

THE MILL CHARITABLE TRusr
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
ilnrestrieted
fund5
2023
Total
funds
2023
Total
funds
2022
Note
Income fmm:
Donations and Legacies
Investments
1,875,318
722
1,875,318
722
1,056,227
430
Total income
1,876,040
1,876,040
1,056,657
Expenditure on:
Charitable actlvlties
631,602
631,602
724,754
Total expenditure
631,602
631,602
724,754
Net income before Investment losses
Net losses on investments
1,244.438 1.244.438
331,903
{510,089) (510,089) {697,554)
li
Net income / (expenditure) before other recognlsed
gains and losses
734,349
734,349
{365,651)
Net rnovément In funds
734,349
734,349
1365,651)
Reconciliation of funds:
Total funds brought forward
7,183.978 7,183,978
7,549,629
7,918,327 7,918,327
7,183.978
Total funds carried forward

THE MILL CHARITABLE TRUST
BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
Flxed assets
Investrnents
7,792,357
6,302,446
Current assets
Debtors
Cash at bank and In hand
12
18
125,936
14,678
63,969
1,027,850
140.614
1,091,819
Creditors: amounts falling due wlthln one
year
13
(14,644)
1210,2871
Net current assets
125,970
881.532
Net assets
7,918,327
7,183,978
Charity Funds
Unrestricted funds
14
7,918,327
7, 183,978
Total funds
7,918,327
7, 183,978
The flna
by..
ial statements were approved by the trustees on 2210112024
and signed on their behalf,
CDOrgan(
U5tee)
S Marks (Trustee)
The notes o
pages 12 to 19 fomi part of these financial statements.
io

THE MILL CHAIUTABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Note
Cash flows from operating activitles
Net cash pmvided by operatin9 artivities
17
986,828
504,953
Purchase of investments
{2,000.000)
17,000,000)
Net cash used in investing artivities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
{2.000.000)
17,000,000)
{ 1,013,172)
1,027.850
16,495,047)
7,522,897
Cash and cash equlvalents carried forward
18
14,678
1,027,850
The rK>tes on pages 12 to 19 form part of these financial statements.

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting arhd Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordan￿ wlth the Flnandal Reportlng Standard appllcable In the UK and Republic of Ireland
IFRS 1021 and the Charities Act 2011.
The Mill Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transactitsn value unless otherwise
stated in the relevant accounting policy.
1.2 Fund accountlng
General funds are unrestrirted funds which are available for use at the discretion of the trustees
in furtheranTr of the general objectives of the Charity and which have not been deslgnated for
other purposes.
Jnvestment income, gains and losses are allocated to the appropriate fund.
1.3 Income
All income is recognlsed once the Charity has entitlement to the Income. it is probable that the
income will be received and the amount of irbcome receivable can be measured reliably.
For legacies, entitlement is taken as the earllèr of the date on which either.. the Charity is aware
that probate has been granted, the estate has been finalised and rsotification has been made by
the executorlsl to the Trust that a distribution will be made, or when a distribution is received
from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the
amount can be measured reliably and the Charity has been notified of the executor's Intention to
make a dlstrtbutltsn. Where legacles have been notlfied to the Charity. or the Charity is aware of
the granting of probate, and the criteria for income recognition have not been met, then the
legacy is treated as a contlngent asset and disclosed if matenal.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donatlon.
1.4 Expenditure
Expenditure is accounted for on an accruals basis and has beers included under expense
categories that aggregate all costs for allocatiorb to activities. Where costs cannot be directly
attributed to particular activities they have been allocated on a basis consistent with the use of
the resources.
Govemance costs are those incurred in connertion with administration of the charity and
compliance with constitutional and sfatutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the
offer Is condltlonal, such grants belng recognlsed as expendlture when the condltlons attachlng
are fulfilled. Grants offered subject to conditions which have not been met at the year end are
noted as a commitment, but not accrued as expenditure.
12

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies (continued)
1.5 Investments
Investments are a form of financial Instrument and are initially recognised at their transaction
cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot
be measured reliably in which case it is measured at cost less impalrment. Investment gains and
losses, whether reallsed or unrealised. are combined and shown in the heading 'Gainsl{105sesl
on investments, in the Statement of financial activities.
1.6 Interest receivable
Interest on funds held on deposlt Is Included when receivable and the amount can be measured
reliably by the Charity,. this is normally upon notificatlon of the Interest paid or payable by the
Bank.
1.7 0¢btors
Trade and other debtts￿ are recognised at the settlement amount after any trade discount
offered. Prepayments a￿ valued at thè amount prepaid net of any trade discounts due.
1.8 Cash at bank and In hand
Cash at bank and in hand includes cash and short temi highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposlt or similar
account.
1.9 Liabilities and provfsions
Llabilities are recognised when thère is an obligation at the Balance sheet date as a result of a
past event. it Is probable that a transfer of econornic benefit will be required Sn settlement, and
the alnount of thè settlement can be estimated reliably. Liabilities are recogni5ed at the amount
that the Charity anticÈpates it will pay to settle the debt or the amount it has received as
dvanced payments for the goods or services it must provide. Provisions are measured at the
best estimate of the amounts requlred to settle the obligation. Where the effect of the time valLJè
of money is material, the provision is based on the present vèlue of those amounts, discounted
at the pre-tax disctsunt rate that reflects the risks specific to the liability. The unwindlng of the
discount is recogniséd wifhin Interest payable and similar charges.
1.10 Financial in5trument5
The Charity has financlal assets and financial liabilities of a kind that qualify as basic flnancial
instruments. Basic financial instruments are initially recognised at transaction value and
subseqijently measured at their settlement value.
13

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
DoDations
Vnrestrirted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
Legacies
1,867,894
7,424
1,867,894
7.424
1,056,227
Total donations and legacie5
1,875,318
1,875,318
1,056,227
Total 2022
1,056,227
1.056.227
Investment income
Unrestricted
funds
2023
Total
funds
2023
Total
fund5
2022
Lnvestment income
722
722
430
Total 2022
430
430
Direct costs
Costs of
generating
funds
Total
2023
Total
2022
Consultancy
Art insurance
Art storage
12,600
11600
69,230
105,766
3,029
3,029
15,629
15,629
174,996
Total 2022
174,996
174,996
14

THE MILL CHARITABLE TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of Expendlture by expenditure type
Total
2023
Total
2023
Total
2022
Donations pald
Direct cost5
Support costs
542,483
15,629
68.850
542,483
15,629
68.850
466,407
174.996
78.526
Charltable actlvlties
626,962
626.962
719,929
Expenditure on govemance
4,640
4,640
4,825
631.602
631.602
724,754
Total 2022
724,754
724,754
Donatlons payable
2023
2022
Donations paid
542,483
466.407
Governance costs
2023
2022
Travel, Entertainment and Subslstence
Postage and delivery
Bank Service Charges
Audit fees
Irrecoverable vat
Total
20
156
360
109
3.500
700
4.825
120
3,750
750
4,640
Support costs
2023
2022
Legal and Profe551onal fees
Insurance expense
60,533
8,317
70,280
8,246
Total
68.850
78,526
t4et Income/{expenditure)
During the year, no trustees ￿￿1Ved any remuneratlon (2022 ÉNILI.
During the year, no tnjstees received any benefits in kind 12022 - ENILI.
During the year, no trustees re￿iVed any reimbursement of expenses12022 - ENIL).
15

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
10. Auditors, remuneration
The Auditor's remuneration amounts to an Audit fee of £3.750 12022 - £3,500).
Investments
Investments
Market value
At l April 2022
Addltions
Revaluation5
6,302,446
2.000,000
(510.089)
At 31 March 2023
7,792,357
Investsnents at market value comprise:
2023
2022
Investments
7,792,357
6,302,446
12. Debtors
2023
2Q22
Prepayments and accrued income
125,936
63,969
13. Creditors: amounts falling due within one year
2023
2022
Trade creditors
Other creditors
Accruals
10,044
27,450
178,635
4,202
4.600
14,644
210,287
16

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
statement of funds - current year
Balance at
l April
2022
Balance at
Gains/ 31 March
(Losses)
2023
Income Expenditure
Designated funds
Designated Funds all funds
158,987
158,987
General funds
General Fund5
7.024,991
1,876,040
(631,602) {510,089) 7.759,340
Total Unrestricted funds
7,183,978
1,876.040
(631,602) (510,089) 7,918,327
Total of fund5
7,183.978
1,876,040
(631,602) (510,089) 7.918,327
Unrestncted funds are molntained by the charity at a level sufficient to respond to emergency
applications for grants whlch arlse from time to time and to cover governance costs.
statement of funds - prior year
Balance at
l April
2021
Balance at
31 March
2022
Gains/
{Losses)
Income Expenditure
Designated Funds - all funds
158,987
158,987
General Funds
7,390,642
1,056.657
1724,7541 1697,5541 7,024,991
Total of funds
7,549,629
1,056,657
1724,7541 1697.5541 7,183,978
17

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. Analysis of net a55ets between fund5
Analysis of net assets between funds - current year
Unrestricted
fund5
2023
Total
funds
2023
Flxed asset tnve5tments
Current assets
Creditors due within one year
7.792.357 7.792.357
140,614
140,614
(14,644)
(14,644)
7,918,327 7,918,327
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Flxed asset Investments
Current assets
Creditors due within one year
6,302,446
1.091,819
1210,2871
6.302.446
1.091.819
1210,2871
7,183,978
7,183,978
16. Related party transactlons
Durirlg the year, the Trust received donations from Robobuild Limited, Big Geoff Overseas Limited and
Wham Music Limited, companies In whlch two of the trustees of The Mill Charitable Trust are also
directors.
the amourTrts were £992,894 12022
£431,227), £375,000 12022
£625,000) and
£500,000 12022 - £NILI respectively.
During the year, The Estate of Mr G Panayiotou paid expenses of £NIL12022 - É 192.3151 on behalf of
the Trust, and a loan of £19 1.893 12022 E21,0501 was repaid to The Estate of Mr G Panayiotou by
the Trust. At the year end The Estate of Mr Panayiotou was owed £NIL {2022 £178.635). Two of the
trustees of The Mill Charitable Trust act as executors for The Estate of Mr G Panayiotou.
17. Reconclllation of net movement in funds to net cash flow from operating activities
2023
2022
Net incomel{expenditure) for the year las per Statement of Flnanclal
Activities)
734.349
{365,6511
Adjustment for:
(Increase) in debtors
IDecreasel/increase in creditors
Falr value change In Invèstment
(61.967)
(195,643)
510,089
17,0071
180,057
697,554
Net cash provided by operating activities
986,828
504,953
18

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
18. Analysls of cash and cash equivalents
2023
2022
Cash in hand
14,678
1,027,850
Total
14,678
1,027.850
19