Chorlty numb¢r: 1128056
THE MILL CHARITABLE TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

THe MXLL CHARITABLE TRUST
CONTENTS
Page
Reference and admlnlstrative detalls of the charftyi Its trust¢es ond 4dvls¢rs
Trustees, report
Independent audltor's report
statement of flnanclal actlvltles
Balance sheet
statement of cash flows
io
Notes to the Ilnaficlal statements

THE MXLL CHARrrABLE TRUST
REFERENCE AND ADMINKSTRATXVE DETAILS OF THE CHARrrY
ITS TRUSTEES AND ADVISERS
FOR TrIE YEAR ENDED 31 MARCH 2025
Ms P P4naylotou
Mr C D Organ
Mr S Marks
Charlty regl•t•red
number
1128056
Prfnclpal ¢)fll
Elsley Court
20-22 Great Mtchfleld street
London
WIW 8BE
S¢¢rntary
Ms P Pan4ylotou
Xnd4pend•nt •udlt•r
Xelnadln Audlt Ltd
Chartered Accountants
8th Floor
8ecket House
36 Old )ewry
London
ec2R 800
8ank•
N#tlonal We5tmlnster Bank plc
208 Piccadllty
London
WIA 2DG
Sollcltor•
Russells
Yaldlng House
152-156 Great Portland Streer
London
WIW 5QA
Page 1

Ttr1￿ MILL CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR EIIDED 31 MARCH 2025
The trustees present thelr annual report together wlth the audlted flnancial statements of the charity lor the
year 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out irb note I to
the financlal statements and comply wlth the Memorandum and Artlcle5 of A55oclatlon, the Charltles Act
2011 and Accounting and Reporting by Charitles: Statement ol Recommended Practlce èppllcable to
charitles preparing tlieir accounts in accordance wSth the Flnanclal Reportlng Standard appllcable In the UK
and Republic of Ireland {FRS 1021,
Objettlyes and actlvltles
•. Poll¢lu and obJectlv*s
The trustees oblectives are to beneflt such extlusively charitable purposes in any part of the world as the
trustees In thelr absolute dlscretlon thlnk flt, provlded that such purposes are recognlsed as charltable
according to English law,
The trustee5 have pald due regard to gUIdan￿ Issued by the Charlty Commlsslon In declijlng what actlvlties
the trust should undertake.
The trustees have complled witli the duty In 5eitlon J7 tsl the Charltles Act 2011 to have due regard tts the
gu5danee publlshed by the Charity Commlsslon on public benefit when reviewing the charitys alms and
oblecllves In plannlng Its future aitlvltles, In parllcular, the trustees conslder how planned actlvities will
tontrlbute to the alms and objectives that have been set.
Achlevemenls Jnd peifomiance
a. Factor8 relevant to athleve objectives
In the current year the charity received a donation from Robobuild Limlted of £192,584 120?4 - £580,6431,
rrom Blg Geoff Overseas Llrnlted of £500,000 12024 - EI,410,0001 and from Wham Mu5Ic Llmlted of
,£400.000 12024 - £340,OUOI, and bank Interest of £7,953 12024 - £5,483).
Flnanclal review
a. Reserves pollcy
It Is the policy of the trust to malntaln unrestricted fvnds, whlch are the free reserves of the charlty, at a
level sufficlent to respond to emergency applicaiions for grants whlcli arlse fvom tlme to tlme and to Cover
governance costs.
Pago 2

THE MILL CHARITABLE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
structurei govemance and mana9émént
•• Con8tltutlon
The Mlll Charftable Twst Is a reglstered charltyi rhumber 1128056, and Is conslltuted under a trn5l deed on
29 January 2009.
Thè trustees who Se￿e￿ during the year were,,
P Panayiotou
C O Organ
S Marks
b. Method* of appoltttfftent or él•etlon Of Irugt•es
The recrultment and appolntment of new trustee5 Is agreed by the exlstlng twstees at the Annual General
Meetlng.
Trustees are nomlnatsd by the Settlor and appolrsted by the board of trustees and shall offer to retlre and
seek reapptslntment by rotation annvally,
Mr C D Orgaii has bEen appoiiited as d)alimaii of tlie iruslees unlil the conclusloii of Ilie next Annual
General Meetln9.
Ms P Panaylotou appolnted trust secretary on 8 Juty 2021. The trust secretary contlnues to the day-
to-day work of trust, Including assessing granl appllcations, Intervlewlno IndSvldual grant appllcants. She
meets perlodlcally wlth the other trustees to approve all grants annually. Funds made avallable for
dSstrtbutson during the linanclal year 202412025 have been allotated as antlclpated to honour exlstln9
omfftltments.
From l January 2024 The Mlll Chartable Trust's grant maklng 1$ 5UPPOrted by The Talent Fund (reg15tered
charfty l L853461.
c. Rl8k management
The trustee5 have Issessed the major tl$ks to whlch the tharlty is exposed, In partlcular those related to the
operations ènd flnances of the charilyr and a￿ satlsfied that Systems and procedures are Iri place to mltlgate
exposure to the Inalor rlsks.
Funds held as cugtodlan
No funds are held as a custodlan.
Page 3

THE MILL CHARITABLF TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
statement ol trustees. responslbllltlej
The trustees are responsible for preparing the trustees, report and the financlal statements In 3ccordan¢e
wlth appllcèble law and Charltles Statement of Recommended Practlce IFRS 1021.
The law applicable to charities In England & Wale5 requlres the trustees to prepare flnanclal sialements for
each financial year lrn accordance wlth Unlted KSngdom Generally Accepted Accountlng Pract1￿ (united
Klngdom Accountin9 Standard5 and applicable lawl whlch glve a true 4nd falr view of the state of affair5 of
thc charity and of the Incomlng resou￿5 and Jppllcatlon of resources, Includlng Its Inttsme and experdlture,
lor that perlod. In preparing these financial statements, the trustees are required to..
select sultable accounting polic*s and then apply them consistentlys
observe the method5 and prlnclples ol the Charltles SORP;
make judgerrenls and accoyntlng estimates that are reasonable and prudent,.
state whether appllcable UK Actovntlng Standards IFRS 1021 have been followed, Subject to any
aterial departures disclosed and explalnetl In the fénancial statements,
prepare the financlal statements on the golng concern basls unless It Is Inapproprlate to presume that
the charity will continue to operate.
The trustees are responsible lor keeplng adequate accountin9 records that are sulflclcnt to show and eyplaln
the tharity's transactions and dlSElose wlth ￿aSOnable accuracy ot any tlme the financial posltlon of the
charity and enable them to ensure that the financial statements comply with the Charitie5 Att 2011. the
ChariLy (Accounts and Report51 Regulatior15 2008 and the provlsions of the trust (Seed. They are also
responslble for safeguarding the assets of the charlty otsd henee for laklng reasonable steps for the
prevention and detection of frau¢J and otl)er irregularities.
Disclosure of InformatlDn to audltor
Each of the persons who are trustees at the time ¥¥hen this trustees, report is approved has confirmed that,,
so far as that trustee 15 aware, there Is no relevant audll Informatlon af whlch the charlty's audltor Is
unawai-e, ènd
that trustee has taken all the Steps that ought to have been tsken as a trustee In order to be aware of
any relevant audlt Infomiatlon and to establlsh that the charlty's audltor Is aware of thal Informatlon.
Audltor
The audltor. Xelnadin Audlt Ltd, has Indlcated hls willingness to contlnue In offlc¢. The deslgnated trustees
wlll propose a motlon re3ppointlng the audltor at a meetlng of Ihe trustees.
Approved by order of the members of the board of trustees and slgned on thelr behalf by..
Ms P PanaySotou
Truslee
Date.. IS lei126
Page 4

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THe MILL CHARITABLE TRusr
Oplnlon
We have audlled the flnan¢lal stotements of The Mlll Charftable Trust (the 'tharlly') for the year ended 31
March 2025 whlch comprlse the statement of flnanclal acllvltle5, the balance 5hEet, the statement of cash
rFows and the related notes to the flnanclal statements. Includlng a summary of slgnlflcant accountlng
pollde5.
The flnanclal reportlng fram¢work th)t hos been applled In thelr preparation Is opplluble law and Unlted
Klngdom Attounllng Standards, Ineludino Flnanclal Reportlng Standard 102 'The Flnanclal Reportlng
Standard appllcable In the UK and Republlc of Ireland, (Unlled Kln9dom Generally Accepted Accounting
Prattfjte).
In our oplnlon the flnandal statements..
glve a true and falr vl¢w of the State of the charlly's affalrs as at 31 Morch 2025 and of Its Incomlng
resources and appllcatlon of resources for the year then ended,.
have been properly prepared In a¢¢ordance wlth Unlted Klngdom Generally Accepted A¢tountlng
Practlce,. and
have been pr¢pared In accordance wlth the requlrements of the Charltles Act 2011.
Baslg lor oplnlon
We conducted our èudlt In accordance wlth Internallonal Standards on Auditlng (UK) {ISAs (UKI) and
applicable law. Our responslbilittes. under those standards are further de5crlbed In the AudIt0￿$
responslbllltles for Ihe audlt of the financlal stalements sectlon of our report, We are Independent of the
charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the finandal statements
In the Unlted Kln9dom, Includlng the Flnanclal RepDrtlng Councll's Ethlcal Standard, and we have fulfilled our
other ethlcal responslbilitles In accordance y￿t￿ these requlrements. We belleve that the audlt evldence we
have obtained Is 5ufflclent and appyoprlate to prt*vlde o bas15 for our oplnlon.
Concluslons velatlng to golng concern
In auditing the flnancial statements, we have corttluded that the trustees. use of Ihe golng ¢orkcem basls of
accountlng In the preparallon of the flnanclal slatements Is approprlate.
Based on the work we have perfvrtned, we have not Identified any material Un￿rtaIntleS relating to events
or condltlons that, Indlvldually or collectively, may cast slgnlflcant doubt on the charlty's ablllty to contlnue
as a goirbg concern for a period OF at least twelve months from when the finanoal statements are authodsed
for Issue.
Our re5ponslbllltles and the responslblllUe5 01 the trustees wlth respect to golng concern are descrlbed In the
relevant sectlons or thls report.
Oth¢r Informatlon
The other Informatlon comprlses the Informatlon Included In the annual report other than the ftnanclal
statefflerbts and our auditor'5 report thereon. The trustees are responsible for the other Informatlon
contalned wlthln tl)e annual report. Our oplnlon on the flnanclal statements does not cover the other
Infomiatlon and, except to the extent otheM5e explicitly stated In our report, we do not express any form
of assurance co￿lush)n thereon.
Our responslbllity Is to read the other Infomation and, In dolng so, conslder whether the other Informatlon Is
materially Inconsistent wlth the flnanclal statements or our knowleége obtalned In the COLJrse tsf the audSt, or
otheiwlse appears to be tnaterlally mlsstaled. If we Identlfy such material inconsistencies or apparent
material rnisstatements, we are requlred to determlne whetl)er thls glves rlse to a moterlal mlsstatement In
the fln4nclal statement5 them5elve5. If, based on the work we have perfomied, we conclude that there 15 a
materlal mlsstatement of this other Inlormatlon, we are requlred to repoit that fact.
We have nothlno to report In thls regard.
Pago 5

THE MILL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MILL CHARITABLE TRUST
(CONTINUED)
Matters on which wo are requlred to report by exceptlon
We have nothing to report in respect of the followlng motters where the Cha￿tIeS (Accounts and Reports)
Regulatlons 2008 requlres us lo ￿port to you If, In our oplnlon..
the information giveii in the trustees, report is inconsistent In any material respect wlth the flnancial
statements. or
sufficient accountlng records have not been kept- or
the Ilnancial statements are noi In ag￿ement ¥vlth the accountSng records and return5; or
we liave not recelved all the Information and explanatlons we reoulre for our audit.
Re¥prJn4lbllltle• of trustee$
As explained more fulty In the tiustses, responslbilitles ststement set out on page 3, the trustees are
responslble for thc preparatlon of thE finanrlal 5tatetllents and for belng satlfled that they glve a true and
falr vlew, an(5 for suth internal control as the trustees determine Is necessary to enablÉ the preparatlon of
flnandal staternents that are free from marerlal mlsstatement, whether due to fraud or error.
In preparing the financlal statements, the tru5tee5 are ￿sPonsIble for assessln9 the tharlly's abillty to
contintre Js a golno coneem. dlscloslng, as applicable, matters related to golng concern and uslng the golng
concern basis of acc(iunting unless the trustees elthèr intend tts liqvidate the charfty or to cease operatlorss,
or have no reallstic altematlve but to do so.
AudStor'$ re6pon$lbllltl•s lor the audlr ot the flnan¢lal statements
We have been appolnted as audStor under section 144 of the Charitie5 Act ?.011 and report In occoidance
with the Act and relevant reyulatlons made or havlng effect thereunder.
Our obSectlves are to obtaln reasonable assurance about whether the flnanclal staierner¢ts as a whole are
free from materlal misstatement, whetl)er due to fraud or error. and to Issue an auditor's report that
Indude5 ovr oplnlon. Reasonable assuran￿ Is a hlgh level of assurance, but Is not a guarantee that an audit
conducted in accordance with ISAS (UK) wlll always detect a material mlsstatement when It exlsts.
Misstalement5 can arise from fraud or error and are consldered materlal 11, Indlvldually or In the aggregate,
they Could reasonably be expected to influence the econornlc dec15ions of users taken on the basls of these
flnandal stalement5.
The extent to whlch our procedure5 are capable of delectin9 irregularlties, Includijig fraud Is detalled below:
Dlscussion5 were held Yrfith, and enquiries made of, management and Ihe Inistees with a view to Identlfylng
those laws and regulations that could be expected to have a materlal Impart on the flnanclal statements.
Durfng the engogement team briefing, the outcomes Df these dlscussions and enqulries were shared wlth the
team, as well as considerallon as to wl)ere and how fraud may occur In the charlty.
The followln9 laws and regulations were idenlilied as being of $19nificance to the entlty..
Those laws and regulatlon5 considered to have a dirett effect on the financial statements include
Charities SORP IFRS 1021, Charltles Act 2011 and General Data Protectlon Regulatlon.
It is considered that, other than Charitles Act 20 1 I, there are no laws and regulètions for whlch non-
compliance may be fundamenlal to the operaling aspecl of the bu5ines5.
Audit procedures undertaken In response to the potentlal nsks relatlng to irregularities {whlch Include fraud
and non-compliance with laws and reoulations} comprised of., Inquirles of management and those charged
witli governance as to whether the entity complies wlth such laws and regulatlons,. Ènquiries with the same
concernlng any actual or potential litlgJtlon or dalms; lesting the appropriateness of entrles In the nomlnal
ledger, Including journal entries. and reviewlThJ transactlons around the end of the reportln9 perlcd whlch
may be Indlcatlve of ffaud.
Page 6

THE MILL CHARITABIt TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TrIE MILL CHARITABLE TRUST
(CONTINVED)
No Instances of materlal non-ctsmpllonce were Identlhed, However, the Iikellhood of detectlng Irregularftles,
Indudln9 fraud, Is Ilmlted by the Inherent dlffsculty In detectlng 5rregularStles, the effectlveness of the
charlty's controls, and the n)ture, tlmlng and extent ol the audlt procedures performed. Irregularllles that
result from fraud mlght be Inhe￿ntlY more dlfficult to detect than Irregularltles thèt result from error. As
explalned above, there Is an unavoldable rlsk that materlal mlsstatements may not be detected, èven
though the audlt has been planned and performed In actordance wlth ISAS IUKI,
A hjrther descrlptlon of our respoTrs4bllltles for the audlt of the financlal statemEn¥5 Is located on the
Flnanclal Reporling Councll's webslle al:
au
ItOTsres
onslbllities. This descilptlon fomis parl
of our audltovs report.
of our v•poit
Thls report Is made solely to the charoty's trustees, as a body, In a¢cordJnce wlth Part 4 of the Charltles
(Accounts and Report5) Regulatlons 2008, Our audlt work has been undertaken so that we might state to the
cha￿ty,5 trustees those maiters we are requlred to state to them In an audltor's report ond for no other
purpos¥. To the fullest extent permltted by law, we do not accept or assume re5POn5ibllity to anyone other
than the charlty and Its trustees, as a bodyi for our audlt work, for Ihls report, or for the oplnlon5 we hève
fornied.
Xelnadln Audlt Lld
Chartered Accountants
8th Floor
8e¢ket House
36 Old Jewry
London
EC2R 8DD
LI 2olb
Djle:
Xelnadtn Audit Ltd Is eligible for appolntment as audttor of the tharfty by vlrtue OF It5 eliglblllty for
appolntment as audltor of a company under sectlon 1212 of the Companles Act 2006.
Pag8 7

THE MILL CHARITABLE TRUST
STATEf4lENT OP FINANCJAL ACTIVITXES
FOR THE YEAR ENDED 31 MARCH 2025
As restated
Tot81
funds
2024
Unrestrlcted
funds
2025
Total
fund
2025
Not¢
Income trorn:
Donations and legacies
Invesiments
1.092.584
10,831
1,092,584
10,831
2,330,643
5,483
Total Income
1,103,415
1,103,415
2,336.126
Expendlture on:
Charitable actlvltles
1,586,652
I,S86,852
476,332
Total ¢xpendlture
1,586,852
1,586,852
476,332
Net {expendlture)Ilncomt belore net
(14Jss•s)Igaln8 on Inve$tment¥
Net (Ios5es)Igalns ori Investments
(483,437) (483,437)
(55,014)
(55,014)
1,859,794
1,108,859
Net movement In lunds
(538,451) (538,451)
2,968,6S3
Reconclllatlon of fund$:
Total funds brought fotward as previously stated
Prior year adJu5rment
9,886,980
1,000.000
9,886,980
1.000.000
7.918.327
Total funds brought fonward as restated
10,886,980 10.886,980
7,918,327
Tot•1 funds currled forward
10.348,529 10,348,529
10,886,980
Page 8

THE MILL CHAAITABLE TRusr
BALANCE SHEET
AS AT 31 MARCH 2025
As restated
2024
2025
Note
Flxed a$6ets
rnvestment5
12
,787,114
8.901,216
9,787,114
8,901,216
Current •8$gts
Debtors
Cash at bank and In hand
13
60,658
528,636
86,580
1,924,600
589,294
2,011,180
CurTtnt liabllitles
Credllors: amounts falllng due wlthln
one year
14
127,87>)
{25.4161
et current assets
561,415
1,985,764
Tot414$¥•ts 1¢88 current Ilabllltles
10,348,529
10,886,980
Net assets excludlng penslon ass¢t
10,348,529
10,886,980
rot•1 net as*•t*
10,348,529
JO,886,980
Chttrlty funds
Unresttlcted funds
18
10,348,529
10,886,980
Total fuDds
10,348,529
10,886,980
The nnandal statements were approved arkl authorlsed for Issue by th
by,.
es and slgned on thelr behalf
Ms P Panaylotou
Trustee
Date..
Mr C D Organ
Twstee
IS loiia£
The notes on pages 11 to 23 form part of these flnanclal statemetits.
Page g

ThE MILL CHARrrABLE TRUST
STATeMEMT OF CASH FLOWS
FOR THE YEAR ÈNOED 31 MARCH 2025
As restated
2024
102S
C••h flows Irom op•r•tlng •¢tSvltl
Net cash used In operatlng activltles
{4Q3.916)
1,904.439
C••h novm from Inve•tlng •ctlvltl
Bank 5nteresl
Purchase of Investment- (See Note 17)
7,952
(1,000.000)
5,4e3
Not c•sh (u$4d In)/provlded by lThvegtln9 aCtl¥ltl•$
(99I048)
5.483
Cash tlows from flnanclng actlvltl•4
Net ca•h provld•d by flnan¢ln• a¢tlvltl•#
Chang0 In u•h ¥nd equlval•ttts In th• y•4r
Cash and cash equlvalent5 at the beglnnlng of the year
(1,395.964) 1.909,922
¥924,600
14.678
Cmh and cjsh equlvJlent$ at Ib• •nd ol th• y••r
528.63fj
1.924.600
Page 10

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General Informatlon
The Mill Charitable Trust Is e charltable trust, reglstered In England and Wales and ha5 no share
capltal, wlth the reglstered address at Elsley Court, 20-22 Great Tltchfteld Street, London, WIW 8BE.
Accountlno poll¢le$
2.1 Bas1$ of preparatlon ol flnan¢lal stat*m•nts
The flr)anclal statements have beÈn prepared In atcordance wlth the Accountlno and Reportlng by
Charities.. Statement of Recommended Practlce appllcable to charltle5 preparlng thelr accounts In
accordan￿ wlth the Flnandal Reportlng StarKlard appllcable In the UK arKI Republlc of Ireland
(FRS 102) and the Charltles Act 2011.
The Mill Charltèble Tmst meets the defftnltlon of a publlc beneflt entlty under FRS 102. Assets and
Ilabllltles are Inltoally recognlsed at hlstorlcal cost or transactlon valve unless otherwlse stated In
the relevant atcount(ng pollcy.
The Flnandal statements are prepared in pound sterllngi whlch Is the functlonal currency of the
charlty. Monetary amounts In these flnanclal statements are rounded to the nearest pound.
The finonclal statements have been prepared under the hlstorlcal cost conventlorb. The prinopal
8ttountlng pollcles adopted are Set out below.
2.2 Fund acuJuDtIDg
General funds are unrestrlcted lunds whlch are avollable for use at the dls¢retlon of the trustees
In furtherance of the general objectlves of the tharlty and whlch have not been deslgnated for
other purposes.
Deslgnèted lursds comprlse uniestrlcted lund5 that have been set aslde by the trnstees for
partlcular purposes. The alm and use of each deslgnated fund Is set out In the notes to the
flnandal statements.
Investment Incomei galns and losses are allocated to the approprlate fu￿1,
2.3 Golng concern
Con51derfng Lvrrent cash levels and conflrmed lulure donatlons, the twstees have a reasonable
expectatlon that the charlty has adequate resources to continue In operation for the foreseeable
future. Therefore the Trustees contlnue to adopt the golng concern basls of acwuntln9 In
preparing the flnanclal statement5.
Pagé 11

THE MILL CHARITABLE TRUST
NOTES TO ThE FINANCIAL gTATeMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcl•s (contlnued)
2.4 Income
All in¢ome Is re¢ognlsed on¢0 the tharlty has entStlement to the iftcome, It Is probable that the
Income wlll be recelved and the amount of Income reeèlvable Can bo measured rellably.
For le9acles, entitlement Is taken as the earlier of the date on whlch elther: the charlly Is awore
that probaie has been granted, the e5tste has been flnallsed and notlficatlon ha5 b88n made by
the executor(sl to the Trust that a dISt￿but[On wlll be made, or when a disttlbutlon Is recelved
from the estate, Recelpt of a legacy. In whole or In part, Is only consldered probable when the
mount can be measured rellably and the charity has been notified of the exe¢utorfs Intention to
make a dlstrlbutlon. Where legac￿e5 have been notlNed to the charftyi or the charlty Is aware of
the grantlng of probate, and the crlteria for income rKognltlon have not been meL then the
le9acy Is treated a5 a contlngent asset and dlsclosed If materlal.
Income tax recoverable In relatlon to donatfjons recelved under Glft Ald or deed5 of covenant 1$
recognlsed at the tlme of the donation.
Pag• 12

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCXAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2025
Aceountlng ptslleles (contlnuéd)
1.5 Expendlture
Expendlture Is accounted for on an actruals basls and has been Included undér expÈns
categorles that aggregate all costs for allocatlon to actlvltles, Where costs cannot be dlrectly
#ttrfbuted tp partieular attivltles they have been allocated on a b)sl$ mnsistent wlth the use of
the resources.
Governance costs are those Ineuired In ttjnnectloh wlth admlnlsiratSon of the charlly and
compllance wllh wnstitutlonal and 5t4tutory refjulreffl¢nt5,
Grants payable are ¢harged In the year when the offer Is m•de except Ir) those cases where the
offer Is condltlonal, s¢Jch grants belng recognlsed as expendlture when the conditions attachlng
are fulf¢lled. Grants Dffered subject to condltlons whlch have not been met at the year end are
noted as a commltment, but not acerued as expendlture.
All expenditure 15 inclvsive of Irrecoverable VAT.
2.6 Interejt recelvabl•
Interest on fvnds held on deposlt 15 Included when recelvable and the arnount can be measured
reliably by the charlty,. thls Is normally upon notlllcalloTh of the Interest pald or payoble by the
Instltutlon wlth whom the funds are deposlted.
2.Y Xnvestments
Flxed asset Investments ère a form of Nnanclal Instrument and are Inltlalfy retognlsed at their
transactlon cost and subsequently measured at falr value at the balance sheet dote, unless the
value cannot be measured rellably In whlch case It Is measured at (Q51 less Impalrment.
Investment 9alns and losses, whether reallsed or unreallsed, are comblned and presented as
'Galnsl(Losse5) on Inveslments. Sn the statement ol fln4n¢lal a¢tlvltles.
2.8 Dobtors
Trade and other debt0￿ ar¢ recognlsed at the 5ottl¢ment amount after any trade dlscounl
offered, Prepayments are valued at the amount prepaid net OF any trade di5cryJnts due.
2.9 Cash at bank and In h•nd
Cash at bank and In hand Include5 cash and short-term hlghly liquld Investments wlth a short
mabjrlty of three rnonths or less from the date of acqulsltlon or openlng of the deposlt or slmllar
account.
Pago 13

THE MILL CHARITABLE TRUST
NOTES TO THE PINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A¢¢ountlng pollclos {contlnu¢d)
2.10 Llabllltl•• and provlslon
Llabllitles are recognlsed when there is an obligatlon at the balance sheei date as a result of
past event, 11 Is probable that a transler of economlc bencflt wlll be requlred In settlèment. and
the amount of the seltlement can be estimated rellably.
Uabllltles are recognised at the amount thot the charlly antlclpates It wlll pay to settle the ¢Jebt or
the amount It has rereived a5 advanced payments for the goods or services It must provide.
Provisions are measured at the best t5tlmate of the amounts requlred to settle the obllgatlon.
Where the errect tsf the tlme value of money Is materlal, the provlslon Is based on the present
value of those amounts, discounted at the pre-tax discount rate thot reflects the risk5 5peclflc to
the Ilablllty. The unwlndino of the discoLFnt is recognlsed In the statement of financlal attlvlties as
a flnance cost.
2.11 Flnanclol Instrument$
The Charlty only has financial assets and finanelal 11)bllities of a kind that qualify as baslc flnanclal
instrumcnts. Baslc flnanclal in5trument5 are Inltla51y recognlsed at rransactlon value and
subsequently measured at thelr settlement value.
Income Irorn don4tlons
Unregtrlct•d
fund$
2025
Total
funds
2025
Total
funds
2024
DorFatlons
1,092,584 1,092,584
2,330,643
Total 2024
2,330.643
2,330,643
Investment Incomè
Llnrestfltted
fund5
2025
Total
fundg
2025
Total
funds
2034
Investment Income
10,831
10,831
5,483
Total 2024
5.483
5,483
Page14

THE MILL CHARITABLE TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analy1• of expendlturyè by oxp•ndltur• typ•
Unr••trlct•d
lund*
2025
T¢)tsl
202S
Totsl
2024
Expendliure on governance
Dlre¢t Costs
Donatlon5 pald
SLTrPPOrt ￿st
6,706
6,706
24,538
24,538
1,369,482 1,36>,482
186,126
186,126
5,736
398,500
62,698
1,586,852 1,586,852
476,332
Total 2024
476,332
476,332
expeThdlture on gov•rnanc•
Unrqstrlcted
lund$
2025
Total
nds
202S
Total
funds
2024
Avdlt lees
Bank servlre charges
Travel, entertalnment and subslstence
Postage and dellvery
Dlfference on forelgn exchongo
lffecoverable vai
5,500
57
34
5.500
4,250
142
34
396
98
850
15
I,ioo
i.ioo
6,706
6.706
5,736
rotal 2024
5,736
5,736
Page 15

THE MILL CMARXTABLE TRUST
NOTES TO THE FXNANCIAL STATEMENTS
POR THE YeAR ENDED 31 MARCH 2025
Dlre¢t ¢o$ts
u￿r￿trICted
fund$
2025
Tot•1
Total
ftjnds
2024
2025
Accountancy fees
Art Insurance
Art Storage
21,000
2,127
1,411
21.000
1.127
1,411
6,000
2,177
1,221
24,538
24.538
9,398
Totsl 2024
9,398
9,398
Analy*lA Of gr•nts
Grants to
Instltutl4ns
2025
Tot41
f4rnd#
Z025
Total
fvnds
2024
Donatlons pald
1.369,482 1,369.482
398,500
Total 2024
398,SOO
398,$00
Page 18

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2025
DoTrallons pald
The charlty has made the followlng fflaterlal grants to Institutlons durlng Ihe year..
1025
2024
4 Young People
42nd Street
Action Menlal Health
Albert Kennedy Thjst (aktl
Bauer Mlsslon Chrlstmas
Black Mlnds Matter
Bultle UK
20,QDQ
20,000
20,000
106,614
150,000
20,000
105,000
Centre for Sttjdles on Incluslve Educatlon
Centrepolnt
Chlldren Heard and Seen
42,000
50,000
15,000
35,000
30,000
Crisis UK
35,000
Depaul UK
Edlth Cavell Fvnd for Nurses
Eye2Eye
Flnchley Foodbank
Hellos
30,000
20,000
10,000
60,000
30,000
10,000
45,000
20,000
20,000
35,000
20,000
25,000
10,000
30,000
Jvst Llke U5
Laurence's Larder
Uamau
Mlndspace
Nailonal AIDS Trust
Naz & Matt Foundation
20,000
Naz Project
Nordoff and Robblns
North Paddlngton Foodbarlk
NSPCC
Off the Record SE Hèmpshlre
OTR Bristol
Posltlvely UK
Project Angel Food
SACHMF
Sense
20.000
35,000
20,000
20.000
20.000
47,868
20,000
30,000
40,000
30,000
20,000
Shelter
Shelter from the Storm
Splre5
st Rlchard'5 Hosplce
40,000
10,000
1,124,482
262,000
Pagg 17

THE MILL CHARITABLE TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Donjtlons pald (contlnued)
2025
2024
stThomos of Cantorbyry
Star Support
step 2
Streetwlse
The Brandon Centre
The Dlverslty Fund
The Food Chaln
The Lowdown
Th¢ Pepper Foundatlon
The Rock Trust
Trussell Trust
Vlcar's Relief Fund
Women's Aid Federatlon
16.500
30,000
20.000
zoA)00
20,000
10,000
35,000
20,000
10,000
10,000
30.000
15,000
40,OUO
35.000
35,OIKI
35.000
1,369,482
398.500
Support ¢o$ts
Unres¢rlcted
funds
1025
rolal
fund•
2025
Total
fvnds
2024
Legal and professional fee5
Insurance expense
Management fee
Admln fee
Webslte costs
39,923
8.642
2,089
127,186
8,286
39,923
8,842
089
127.186
8.286
52,123
.714
1,861
186,126
186,126
62.698
Total 2024
62,698
62.698
Page 18

THE MXLL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10. Audltor's ramuneratlon
2025
2024
Fees payable to the charlty's audltor for the audlt of the charlty'5 annual
ccounts
5,700
4,250
11. Trustees, remuneratlon and expenses
Durlng the year, no trustees re￿iVed any remuneration or other beneflts (2024 £NJL).
Durfng the year ended 31 March 2025, no trustee expenses have been Incurred {2024 - £NIL>.
12. Flxed asset Investments
Othor flxed
asset
Investments
Cost or valuatlon
At l Aprll 2024
Additions - see note 17
Fair value movement
Management charges {as recognlsed wlthln support costs - see note 9)
8,901.216
1,000,000
{55,014)
{59,088)
At 31 March 2025
9,787,114
Net book value
At 31 March 2025
9,787,114
At 31 March 2024
8,901,216
13. Debtors
2025
2024
P￿PaYMents and accrued income
60,658
66,580
Page 19

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14. Creditors: amounts falllng due wlthln one year
2025
2024
Trade credltors
8,090
19,789
12,755
12,661
Accruals
27,879
25,416
15. Financial instruments
As restated
2024
2025
Flnanclal assets
Flnanclal assets measured at falr value through Income and
expendlture
10,376,406 10,912,396
2025
2024
Financlal liabllltles
Flnanclal Ilabllltles measured at falr value through Income and
expendlture
25,752
25,416
nanclal assets measured It falr value through Income and expendlture comprlse of Investments,
prepayments, accNed Income and cash at bank.
Rnanclal Ilabllltles measured at falr value through Income and expenditure comprise of trdde creditors
and accruals.
16. Relatad party transactions
During the year, the Trust received donatlons from Robobulld Llmlted, Blg Geoff Overseas Llmited
and Wham Music Limited, companies In which two of the trustees of The Mlll Charltable Trust are also
dlrectors. the amounts were £192,584 12024 £580,643), £500.000 12024 £1,410,000) and
£400,000 (2024 £340,000) respectively.
Page 20

## 

## 

## 



THE MILL CHARITABLE TRVST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18. Stat¢ment of funds
stalément of funds - current year
AS restated
Balance at
l Aprll
2024
Balance ¥t
31 March
2025
Galnsl
(Lo8&￿)
Incomo Ex￿ndIture
Unrestrlcted lund$
De61gn•ted funds
Designated Fund5- all
nds
158,•87
158,987
Gener41 fund#
General Funds - all funds
10,727,993 1,103,415 (1,580,852) (55,014) 10.189,542
Total Unie$trl¢t¢d
funds
10,886,980 1,103,415
(1,586,852)
{55,014) 10,348,529
Unrestrlcted fund5 are maintalned by the charity at a level 5ufficlent to respond to emeryency
appllcatlons for grants whlch arf5e from tlme to tlme and fo cover governance costs.
Statgment of funds - prior year
As restated
Balarbce at
31 March
2024
Balan￿ at A5 restated
l Aprtl 2023
Income Expendlture
Galnsl
(Losses)
Unrestrlcted funds
D•8lgn•ted fundg
Deslgnated Funds- all funds
158,987
158,987
enernl tunds
General Funds- all funds
7,759,340
?,336,126
1476,3321 1.108,859 10,727,993
Total Unrestrleted lunds
7,918,327
2,336,126
1476,3321 1,108,859 10,886,980
P8ge 22

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
19. Analysis of net aS9ets betwètn funds
Analysls of net assets between funds - current year
Unrestrlcte
d funds
2025
Totsl
funds
2025
Fixed asset Investments
Current assets
Credltors due wlthln one year
9,787,114
589,294
(27,879)
9,787,114
589,294
{27,879)
Total
10,348,529 10,348.529
Analysls of net assets between funds - prior year
As restated
Unrestrlcted Endowment
funds
funds
2024
2024
As restated
Total
funds
2024
FSxed asset Investments
8,901,216
2,011,180
125.416)
8,901,216
2,011,180
125,416)
Current assets
Credltors due wlthln one year
Totsl As r¢stat¢d
10,886,980 10,886,980
20. Recon¢lllatlon of net movement In funds to net cash flow from operatlng actlvltles
2025
2024
Net income/expenditure for the year las per Statement of Financial
Activities)
(538,451) 2,968,653
Adjustments for:
8aTrk 5nterest
Oecreasel {increase) IA debtors
Increasel{decrease} in crellltors
Management charges
Falr value change In Investment
(7,952)
25,921
2064
59,088
55,014 (1,108,859)
(5,483)
39,356
10,772
Net cash provlded by/(uged in) operatlng •¢tlvltles
(403,916) 1,904,439
Page 23

THE MILL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
21. Analyslg of ¢a$h and ¢a$h equivalents
2025
2024
Cash In hand
528,636
924,600
1,000,000
sh in transit
Total cash and cash equlvalents
528,636
1,924,600
22. Analysls of changes In net debt
Changé$ In
market
value and
exchange
rate
Cash flows Movèments
At31
March
2025
At l Aprll
2024
Cash at bank and in hand
1,924,600 (1,450,978)
55,014
528,636
1,924,600
{1,450,978)
55,014
528,636
P8ge 24