Charlty number. 1129868 ThE TAL¢mARrrABL£ TRUST TRUSIEES, REPORT AND FINANaALSTATEMENrs FOR THE Y£AR ENDED 31 DECEMBER 2024
THE MoiifAL CHARlfABIE TRUST Reference and admlnlstratwe tnformatlon 2to5 Trustees, report Independent exam1$ report Statement of finandal actiVFties Balan sheet Cash flow #atement 10 Notes to the cash fiow ststement llto17 Xotes to the flnancial statenRnts
THE MONTAL CHARITABLE TRusr REFERENCE AND ADMINISTrATIOM INFORMATION Re8lsternd Charlty Number 1129868 Trustees P G Barber DACrk Mllls & Reeve Trust Corporatlon Umlted Dlroctors of Mllls & R•¢ Trust Corporatkin Urnlted Catrknna Attride Ravl Ffancis LaLtren Parker Michael Aubrey John Grundy Andrew Playle Chrfstopher Belcher Matthew Haywood Justln Rlpman Luclftda Brown Lucy Howard Iherine Scott Debornh Clark Zlckle Llm Tlmothy Whitney Sarah Comiack Eleanor Milner Adam Williams Ellzabeth Held Chrf5topher f4oel Clerk Louise Ruane clo Pear Tree Cotta8e Yarrfnston R¢)ad Alfrtd( Worcester WR6 SEX Ind•pend•nt ¢xamln•r The fllthards &ndy Partnership Llmlted Thomeloe House 25 Barbourne Road Worcester WRI IRU Solkltors Mllls & Reeve LLP l Urde Squa 3 Symphony P Manchester M17FS Investec Wealth & Investment Umlted Colmore Buildl Colmore Clrcus Blrmlngham 84 6AT Banker Cater AIEen 2 Trlton Square Régenys Place London NWI 3AN Pa8ell
TME MQNTAL CHARITABLE TRusr TrVSTfES' REPORT YEAR ENDED 31 DECEMBER 20Z4 TheTrustees wesent thelr report alon8 with the financlal statements of the Charlty forthe year ended 31 December 2024. The financlal ststements have been prepared In accordance wlth theaccountln8 policies set out in the notes to the accounts arml comply with the Charitys 80vernI document, the Charities Act 2011 and Acwurtt(n8 and Reportlns by Charltle& Statement of Recomn*nded Practlce appllcable to drItIeS ptrln8 the1racUnts in ac¢ordance withthe Flnanclal RepOrtIsndafd apprIcab Intlhe UK and Republic of Ireland (FRS 102) leffective l January 20191. sTrucruRE GOVERNANCEAND MIMGE[ The Charlty was created by a Deed of Declaration of Trust dated 8th January 2CIYJ, Donatlons have been recel¥ed by the Charlty durlng 2010 from the compary Moiitsl Fittlngs Llmited whlch has sirKe been wound up, sharehothrs of Montsi Htting5 Limited created the Charity in memory of ihe company whlch was founded In 1919 b¥ John Gantner. The Charty Is an unlncorporated ¢harlty re8lstered with Charlty Commisslon far England and Wak The objects of the Charlty. a5 Stated in the Deed. are "to apply the Income, and all or such parts ol the capital. as the Trustees thlnk fit (whether thrOh donations to other charftte5 or by arry other charitable means) for ortowards such charitable purposes astheTrustees thlnk fft.. The Deed also provldes that the Trust shall be known as The Montal tharitsbIeTnt.. Future trustees may be appolnted bya resolution st8ned by the trustees Ilsted on page l. The Tnstees who have served durfn8 the year and Since the year end are set out on page L The Tru5te¢5 have ttrft power of appolntln8 newtStse The Trustee$ dOt accept applicatlons forfundin8 due to the Ilmlted resources available to them to proces$ such appllcatlon& The Trustee$wllldetermlne whlch charltable funds wlll recefve grants In accordance with the objerts of the Charlty. All of the Trustees art as the holdln8 trustees of the Charlty. Pa8e12
THE MONTAL CHARITA8LETRusr TRUSTEES, REPORT EAR ENDEO 31 DECEMBER 20Z4 OBJEcnvES AND ACTMTIES ObJectlve5 objectkses are to apply the income, and all or such part5 of the capltal as the trustees thlnk fit (whetherthrou8h donatlonsto other charitles orbyany other charitable mean5} for ortowards siKh charitable Purpo 4s the trustees thlnk fft. Charlty undertake5 general 8rnnt-makinB actlvltles in furtrance of its objettives. In order to 8enerate Income 10 out of whlth 8raDts are to be fvnded, the Chaflty holds ? large portfollo of listed Investment& The Trustees have refeffed to the8ukl•n contslned In the ChaYFty Commlsslon's ieneral guldance on publK benefft when reviewlng the Charitys aim and objectives and In plannln8 fvture aCttle% In particular, the trustees have considered how planned activiiies wlll contributs to the alms and objecthes set. AUIIEVEMEPITS AND PERFORPaANC£ Slgthnt ch¥rft•ble acuvltles yndertaken In th• Yr Ourlng the period TrLlStees made 8rants totsllin8 £299,913 (2023: £35,OIX>) in furtherance of thelr 8rant-makln8 obiects. Fulldratsl xtlvltl•s The Charlty d(vJ not engage in any fundraisingactlvitles las defined b¥ section 162A of Charltles Act 20111. Ouring tho year the Chanty recelved Investment Income from fts llsted IrtN*Sknents of £119399 (2023: £37,601). The Chanty paid investment manayment fees of£36,063 (2023. £13,504>, earnin8 the charhy net Investment In¢ome of £83,336 (2023: £24,W). At the year end totsl listed In¥e5tments held ty the Charlty was valued at £6,377,994 (2023: £2,519,446}. Because there has txen a $16nlficant Increase In the total Ilsted Investments held by the Charity to a lary teycy recefved In the year, the Trustee$ consider It Impractical this year to undertake a fomwl assessment of Investmert perforniènce agalnst the investment obJective5. Page13
THE MONTAL CIIARITABLE TRUST TRUS7EES' REPORT YEAR ENDED 31 DECEMBER 2024 HTrantl* Mgjlts The Charfvs results are set out In the statement ol financial activtties on page 7 and balance sheet on pa8e 8 (wlth further detai15 wtthln the notss to the finandal ststements on pa8es 9 to 17). The Trustees have wlde Investment powers subject onl¥ to the general duty of care set out In the Tntstee Act 2(IXJ. The tharlt(s investmEnt strateg¥ is to maintsin a balatKe between Income generation arxl capltsl 8rowth. The Trustees accept a mpderate level of r&k as deflned in the agreement wlth the Charws Investment managers throu8h a managed and dr4ersffied portfolx) of iFNe5tments. PrlKlpl rlsks and uncertalntles ladrrf the Charfty TheTnths have 8lven conslderatlonto the major rlsks to whtch the tharity15 exposed and satlsfied themselves tkwt systems or edre$ arè estsbllshed in order to mana8e those rSsks The main risk to Charity from financ-wl instruments lies In the comblnation of uncertain investment markets and volatlllty In ykld. tiquidity risk Is antkipated to be low as all assets are traded. The Charity's Investments are malnly traded in markets with good Ilquidlty and high tradin8 volumes. The Charity has no material 5nvestment holdln markets subiett to exchan8e controls or iradln8 restrtrtlons. The Charlty manages these inve#ment risks by retalnin8 expert 3th1isors and operating an investment pollcy that provides for 4 hwh degree of dlverslficatlon of knldlngs withln investment classes that are quoted on recognised stock exchanges. charlty IldS a portfollo of listed imiestment and cash ld by the investment manager for the purposes of mana8fn8 the Ilsted Irwestments for the pvrp05e5 of 8enerating income to ftnarace the acbvltles of the charlty. Because the Val of listed iwestments can fluctuate slgnlflcantly, the trustee5 have not set a value on the amount to be held for thts purpose. The total value of net assets deemed held bythe investrnent mana8er attheyearend was £6A32,734 (2023: £2,530240). To assist wtth ptanftFng what fvnds the tharlty ha5 to make grants Qlrt of cash generated from Investment IrKnme the charlty also I[6$ a cash balan in its general bank account. Net assets excludirvd both net assets doemed held by the thvestment maiia8er and accrued acy income notyet reofved was £(14L075} (2023= £35,150). At the year end the tharlty had totsl unrestrkted funds (whlth Is also the level of Yree reseNe¢ as defined ty Charftles SORP) of £6,292,709 (2023: £6,316,802). Pa8e14
ThE MIYITAL CHARrrABIE TRUST TRUSTEEY REPORT YEAR ENDED 310ECEMBFJI 2024 Golng concorn usessrnent The Trustees are satlrfd that the Charitvs financial Fwitlon as shown on the Balance Sheet on pa8e 81s adequate for the purpose of fulflUln8 the Charirfs obligatlons for the foreseeable future. TRUSTEES, RFSPONSIBIUTIES IN REIATI<%Y TO THE RNAPICIAL STATEMEIITS The Trustees are responsible for preparlng the Tru#ees' Report and the financial statements In accordance wrth appllcable law and Unlted Kln8dom Accountlns Standards (Unlted Kln8dom Generalty Accepted Account1 Prnctice). The law applkable to charities in England and Wales the Charttie5 Act 2011, Ch8rfty IA£counts and Reports) Re8ulatlon$ 2(X18 and the pro¥tslons of the TNst Deed requlres the Trustees to prepare finandal statements for each final year whlch 8i¥e a true and falr vlew of the state of affalrsofthe Charity and of the Incomtr¥ resources and appkntlon of resources, Indudin8 the income and expenditure. of the Charity for that perfod. In Prepari those financial ststements, the Trustees are required to: Select sultable acountlng polkks and then appty them mn$15tendy; Observe the methods and prlncls In the Charltles SORP (FRS 102). Make judgements estlmates that are Rasonable and prudenL' State whether applkable accountlng standards have been followed, subject io any materfal departures dlsdosed and explalned In the finantlal statements; and Prepare the financlal statements on the goln8 concern bas15 unless it Is InapproprlJte to presume that the Charfty wlll continue in bus"tM. Trltee5 are responslble for keepin8 proper accounts record5 whkh dlsclose wSth reasonable accuracy at any time the financFal posltlon of the Charlty and to enable them to ensure that the flnanctal statem¢nts comply wtth the Charitles Art 2011, the Charlty (Accounts and Reports) Re8ulatlon$ 21X)8 and the prov1s1or of the Tfust Oeed. They are also responslble for safeguardi t assets of the Charity and hence for takln8 reasonab steps for the preventlon and dete¢tlon of fraud and other Ir(lIaTI11es Tr 025 PGBarb DAaark Pay15
INDEPDIDENT EXAMINER'S REPORT TO ThE TRI)sfEES OF THE MIAL£mARIYAbLE TRUST lrnlependeftt exam1$ r•port to the tn4eg ofThe Montal Charftth TNJt I reportto the thyity trustse$ on my examlnation of the 8¢counts of The Montsl Choritable Trust (the Trust) forthe year ended 31st December 2024. Rasponslbllttlas and basls of report As the charlty trustee5 of the Tru3t you are responslble for the prepa¥atbn of the accounts in accordan¢e wlth th requirements of the Charfths Act 2011 (he Att,). I report In respect of my examinatFon of the Trusesaccounts earried out under Settion 145 of the Act and in carryln8 t)ut my examinatlon I have followed all appll¢able DlrectSons glven by the Charrty Commlssk)n under Section 14515)(b> of the Att. Ind¢pendent examlnerfs st•tem I hwe completed my examlnatlon. I confimi that no materlal matters have come to my att?ntion in connertlon wfth the examlnatson 8tvin8 me ouse to bolleve that In any ftrIttl respect- ac¢ountln8 re¢ords were not kept In respett of the Trust as required by Sectlon 130 of the the 袢ourts do not 8ccord wlth those records: or the accounts do not compty with applicable re4ulremerrts concernlru the form and content of attounts set out In Charltles (Accounts and Reports} Regulatlons 2CQ8 other than ary quIrement that the accounts gwe a true and fair view which Is not a matter considered as part of an independent examlnatlon. I have no concerns and have corne across no other matters In connertlon wlth the examination to whith attentlon should be drawn In ths report in order to enable a proper understandlng of the accounts to be re8ched. Melissa Jean Godwln ACA ACCA The Assoclatlon of Chartered Certs'rd Accountants The Richar65 Sandy Partnershlp Llmlted Thorneloe House 25 Barbourne Road Worcester Worcestershlre WRI IRU Dèt&...Zs,-.oq..k.%.....,.........,-. pa8e16
ThE MONTALCHARITAaLE TRUST srATEMENT OF FINANQAL AcnvmES F(MI THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted Totsl fvn¢ls 21)24 INCOME FROM: Donatlons and le8acle5 104871 I&71 5393A06 Investments 119399 ltsJ99 37ffi01 TOTAL INCOME SMI 22437Q 7 Ra1% funds Investment m4nagtment Costs 36,063 36.Q63 13,OY Ch•rftable Xllvlt Grants Support costs 299,913 4,237 I99 35.(¢MI TOTAL EXPENI)ITURE 340,213 $40213 Net 8aln5 / (k>sses) on revaluatlon of ltsted investments 97,T15 14Ef MOVEMENT IN FUNDS I8,1) s17.787 REC(XIUUATK>fl LF FUNDS: Total funds brought forward 6,3162 fi,31602 799,015 Net movement of funds {18,IM) I,060} s17,787 TOTAL FUND5CAftRIED FORWARD 6298,734 298.734 6316AOI All Incomin8 resources expended derlve from continuln8 actlvitle5. The notes forrn part of these flnandal statsments. Pay17
BAIANCE SHEEfASAT31 DECEMBER 2024 2023 FIXED ASSETS Investments 6J77,994 2,519A46 DEbtor5 Cash 10 7075 129J05 3,752.063 56,023 3,808,(6 CURRENT UABILMES Amounts falli due wfthin oneyear 11 110,730 NET CURRENT ASSETS 4Q,740 3.797,356 CXEDrroRS Amounts faHin8 due aftér oné year 12 6,316,802 Unrestricted funds 13 63¥n4 6,316W12 The notes fomi part of these finandal statements. The finanelal statrmentswere approved by the aoard ofTrustees on...arto..&7.r%AaAfiL 2fand behalf P G Barber D A Clark Pa8e18
THE MONTAL CHARITABLE TRUST CASH FLOW STATEMENTS FOR THE YEAR EIIDED 31 DECEMBER 2024 Notss to the sh flow 2023 CASH FLOWS FROM QPERATINGAcm4TIES Net cash provlded by / Iu5ed In) 0ratIr% attNities 145,747 43.102 H FLOWS FROM IIIVEsllNG ACTIMThS Dlvidends and Interest from Investments Proceed from saks of Investments Purchasè of Investmepts NEf CASH PROVIDED BY/ WSED IN) INVESTMENT 14975 36,950 1,971444 599,332 11,966,390) 1656.923) I,0 (20,641) CHANGE IN CASH AND CASH EQUIVAWITSIN THE YEAR 7328Z 22,461 Cash and cash equlYdlent$ it the IRglnnln8 of ye•r 56Jll3 3361 CASH AND EQUIVAIENTS ATTHE END OF THE YEAR 9305 56,023 Page19
THE MONTAL CIIAfttrABLE 7RVST NfJfES TO THE CASH FLOW sfATEM F(kR ThE YEAR ENOED 31 DECEMBER 2024 1. 8ECONauATION OF MET INCOMVIEXPENoilliRE) TO NEf CASH FLOW FROM OPERATING 2024 NET hlOVEMENT IN FUNDS PER THE STATEMENTOF HNANaALACTivmES {W068) 5,447287 Legacy Income receNed In the fDrm of shares lsee note 3) (3.764827) Investment income (excluding movement in accNed incomel 1112J75) RLwaluatlon {8ains}nosses on Ilsted Investments (97.T151 Mrjvement In debior5 3,744,988 Movement b) uedftors (1555.738) 136,950) 1140,164) (3,752,063) 10230 NEfcASH PROVIDED BYIIUSED IN) OPERATING ACTivmES 45.747 43,102 2. ANALYYS OF CHANGES IN NEf DEBT At the stsrt ol tho year At the end ofthe year Cash èt bard¢ Cash held Investment manager Totsl cash 41,3 14.643 33,184 74,564 54,741 3. NON<ASH 7RANSAcnoNS Induded wltbln legacy Income per the Staterrtent of FSnanclal are Ilstsd investments whose ownershlp was tran5ferrert to the Charfty a5 part of the leycy. These Ilsted Investments were measured at their market value at twme of transfer, whlth In total was £3,766,827 (2023; £1,55S,7381. Pa8e I lo
THE MONTAL CHARtrABLE TRUST N¢)TESTQ THE FINANCIAL STATEMENTS FOR ThEYEAR ENDED 31 OECEMBER 2024 I. ACCOUNnNG PWaES Ba$15 of pYeparfn8 financlal statsments finaftci31 statements of the charlty, whlch is a public benefft entity under FRS 102, have been ppared in accordance wlth the Charities SORP (FR$ 1021 'kcountin8 4nd R¢portlng by Charities. Statement of Recommended Prartlce appltcable to ¢harltle5 preparln8 thelr accounts In a¥TordaDtt wlth the Flnan¢fal Reportin8Standard applkable In the UK and Republlcof Ireland (FRS 102) (effectlve l January 20191,, Flnanclal Reportlng Stsndard 102 Yhe Flnnlal ReportlnB Strndard appllcable In the UK and RepubElc of Ire14fKI' and the Charftles Art 2011. The financial ststewonts. have l)een prepared under the historkal cost conventlon wlth the exception of investments whlch are Included at market value. Goln8 Conurn The trustees have prepared the finandal statements on the goln8 COnM basis 85 they do rt Intend to Ilquidate the ¢harity or to cease trir operatlons, and as they have concluded that tharltys hnancial posttion means that th1$ Is realtstlL They have atso conduded that there are no matsrfal UnrtaIntieS that could have Cast nrfkant doubt over thelr abillty tv contlnue as 4 goln8 concem for at least a year from the date of approval of the finan&al statements. Income AU Income Is recLynlsed Ih the Statement of Flnancial Artfvltles On the Charlty has entltlement to the funds, tt Is probable that the income wlll be recthed and the amount can be measured reltabl¥. Divldends are reco8nised oncethe dlvidend ha$ been de¢lared and n0t1ficatl¢ has been receNed of the dlvldend due. Thls Is normally upon notlfkatlon by our Inwstment advlsor of the dfvldend yleld of the Investment portfollo. Bank Interest and Intrrest from Interest bearln8 Ilsted Snvostments ts recognised usln8 the effectlve interest rdte method. Legacy In¢ome Is recognls¢d when the aurfty has confimed ertftlement of the legacy, when the amount can be accurntely measured and when It is probable that thty w511 recei¥e the Income. Ltsted Investyi)ents fnduded wlthln th¢ Val of le8aLV Income are measured at t market value at the tlme leg41 ownershlp pa$5ed to the charity. Exp•ftdttur• Uabllltles are reCognIs as expefidlture a$ soon as there is a leBal or constructfve obli8atlon eommltting the Charlty to that expendlture, It Fs probable that 4 transfer of economic benefits wlll be required In settlement and the aniount of the obl tlon be measured lIablY. Expenditure Is ?c¢ounted for on an accruals basls and ts5 been Classif under headltv85 that aggre8ate all cost rehted to the category. Governance corts comprlse all Involvln8 the publk accourtablllty of the Charlty and Its eompllance wlth 8UlatIon and 8ood practlce. Page 111
ThE MwfALCIIARITA8LETrusr NOTES TOThE RHANQ sfATEMENTS FOR ThE YEAR EIIDED 31 DECER 2024 L ACCOUNTIIIG POUI]ES (continued) Grants payable are payments made to third parues h) the fvrtherano of the charttable obk of the TnJsL In the Case of an unc(Midltional 8rant offer thls Is accrued once the re¢lplent has been notlfied of the 8r8nt award. The charty has elected to apply the provisKns of Section 11 'B45K Finar¥cial InstrumeTrts' and Se¢tFoTh 12 '0ther Flnandal InstnJments155ues' of FRS 102 to all of Its financial InstrTrents. Flnanclal Instruments a recognlsed when the charlty becomes party to contrattval provtsbn5 of the Instrument. Financial assets are offset, with the net arnunts presented kn the accounts where there Is a le8ally enforceable right to set off the reco8nlsed amounts and there 15 an Intention to settle on net basls or to realise the asset and settle the Itabillty simultaneousty. Cash at Ixnk In hand Cash at bank and Sn hand intludes IK)th eash and cash equlvalents (being slx)rt term hl8hty IEquld Invéstments that are readity convertlble to known amounts of cash and that are subject to an In4nifitant nsk of than8es in Val1. B4sk finandal assets Bas1¢ fiftanclal assets. whlth Include trade and other recelvables and cash and bank balances, are Initlally measured at transactlon prt InckMln8 transacdon costs and are Subsequent carrfed at amortlsed cost uslng effective Interest method unless the arrangement const4tutes a finaEn8 tran5•Ctk>n, where the transartlon is meared at the present value of the fvture receipts dlscounted at a market rate of Interest. Baskllftan¢lal lIalItIeS Baslc financlal Ikbllities. Inclu(fin8 trade and other pa¥ables, are Inltlally recognised at transactkln price unless the arRngement constitutes a f6nancin8 transaction, where the debt Instrument Is measured at the present Value of future recelpts dts¢ounied at a ntsrket rate of InteresL I)ebt Instruments are subsequentty carrled at amortlsed COSL uslnB the effeCte Interest rate metlM)d. Trade paydbles are obligations to pa¥ for goods or servlces that h¥4e been acquired in the ordlnary cOue of the operatlorts from suppllers. Trade payab5 are classlfied as current 114ts111tles ff pa¥Thnt Is due wlthln one year or less, If not, they are presented as nonmcurrént liabilttie5. Trdde payables are reco8nlsed initialty at transattion cost. Listed Invesknents are statsd * maTket value. ItKreaseslldecreasesl on revaluatlons of11sted investments aR trnnsfeNed to/lfrom) the Statement of Financl81 Activitle$. Pa8e112
THE W)KfAL CHARITABLE TRusr NOTES70 THE FiNANaAL STATEMErirs FOR THE YEAR ENDEO M DECEMBER 2024 I. ACCIXINTING pouaES {contlnued) Fund accountlnz Unrestrlcted funds can be used In accordance wlth the charltable objertlves at the discretlon of the trustees. 2. SIGNIFICANTJUDGEMEpifs AND KEY SOURCES OF ESTIMATION UN¢%RTAINTY Atttsunti estimates and Judgement are continualty evaluated and are based on htstsrkal exwlence 4nd other fartors, Indudlng eXpeCtatk) of future events that are belleved to be reasonable under the clrcum5tanos. Legacy Income includes an element of accrued Income for fvt cash and listed investment5 to be transferred to tIE charity afterthe year end as part of the totsl legacy re1¥able. The value of Ilsted inv¢stments has been calculated usln8 the year end market value ot the in¥estment still hekl on trust by soliciti)r handllng the estate of the deceased and wlll be subiect to market fluctuatlons between the yearend and the eventual date that legal ownershlp passes to the tharlty. The value of addltlonal cash recelvable b.y the charity under the le8a is based on the ush ld on trust by the solldtor handllns the estatt of the de¢eased at the ye•r end less an estlmate of addltlonal admlnlstratlon fres to be pald out of that cash prlor to payment to the charity. The legacy Is also subject to the discretlon of t sollcftor handlin8 the estate of the deceased as to how the assets are to be dlstrfbuted between all beneficiariesof the wlll. The totsl value of the legacy reco8nlsed ID the ¥ear Is ?5 per note 5 and the year end value ol accrued incomo Is as per nots 10. 3. TAXATION The Tnfjt Is a re8f5tered charlty, mmjber 1129868, and Is exempt from Income Tai Corporatlon Tax and Capttal Galns Tax provkled Its Income and 8ain5 are applled for tharltable purp05e& TRUSTEES AND EMPLOYEES No remuneratlon was pald or payable In respect of the year out of the fvnds of the CharFty eFther directty or indlrectly to any Trustee gr to any person known to be connected wlth them. No expenses was paid or payable to any Trustee or to ony person known to con1cted wlth them in elther tty curfent or prevlous financlal years. There were no fvll or part tkne employees during the year. Pase113
THE MoKfAL LIIARrrABLE TRusr NOTES TO THE FINANaAL STATEMErirs FOR THE YEAR ENDED 31 DECEMBER 20 S. INCW FROM DONATIONSAND LEGAaFS Total fvnds 2024 Le8aw Income 101971 104071 5A93,806 6. INVESTMENT INCOME Total funds Total rKIs 2023 Income from Ilsted Irwestments 119,399 119,399 37,601 7. GRAIITS Totsl Unrestrktsd fund& fund$ 2024 2024 126th Blnnl ham {l%t Hodle Hill) Scouts ms Chlklren's spI Age UK Brfstol Age UK GIOUstershIrt 8irmlngham Hospice Brltlsh Heart Foundation Cheltenham Anlmal Shelter Compton Hospice Cotswold Rkllng lorthe Dlsabled DEC Earthquake Appeal free@last Gloucestrr Cty Missw)n Gloucester Eye Therapy Tntst Great Oaks Hosplce Heart of En8land Community Foundatlon Lon8field Hospice Care Mag8s Day Centre Narthex Sparkhill Refe Sandwell Aslan Development AlatIon 10,413 IOA13 5,c 5,IMI S,Ikl) 5MXI 5,OIKI 5A 5,(m s,1 102,CMXI 102MM) 5,IXIO 2,SW 2,5(xI Ic1),> i(xJA 10,Ixx) Iom I. iJkn) S.tXK) 5,(UI Pa8e114
THE MONTAL CHARrrA8LE TRLIST NOTESTO ThE FINaAL 5TATEMEMrs FOR THE YEAR ENDED 311)ECEM8ER 2024 7. GRANTS (£ontlnued) Se¥ern An8els Houslng and Support SIFA FIside St 8aslls St Paul's Hostel stroke Associatlon Sue Ryder LKkhampton Court Hospice Teenage CancerTrust Verses Arthritls WorcesteT Community Trust (DAWN Project) YOU WM 5,tXX) S,¥0 5,£)00 5,IK)o 5,000 5OLKI S,(KJ) 5.0Th) 5,(KXI S,IXII 5.IX)0 5.(KX7 51MXI S,IKMI S,IXXI 299.913 299,913 35,(YXI 8. SUPPI>RT cosrs Unrestrlct fvnds Total 21x3 cle,$ fees Independent examlner5 Audrtor< remuneratlon 1,817 2,420 1,817 730 4,237 7 5.730 9. FIXED ASSET INVESTMeKTS Market value at 31 Dornber 21J23 Add5tion$- refved as part of le8aCY Addltlons- other Dlsposals Revaluatlon gains/llows) Market ¥alu* It 31 Decemlxr 2024 2,519,446 3,766A27 I966,31 (1,972,444) 97,775 6377,994 Page 115
IXE mAL¢mARITABLE7ftUST NQTESTO TItE F114ANaAL STATEMEPIIS FOR THE YEAR ENDED 11 DECEMBER 2024 2024 ArUed In- le8acy Iwme Attnd InCoff-0tr Income 3,751,412 651 3.752,063 IL ¢AEDITORS-amounts fallkng du• wthln on¢ yw2 2024 Grants payable Accruals 15.640 95,640 10,730 10.730 11 CREi>EfoRS- amounts falUr4 aft¢rm year. 2024 2023 Grants payaNe o,o&J 0.0 STATEMEIIT OF FUIIDS Revaluatlon galns / as at Incomlne A0[c held as at 3Y12ft4 Unrestrlrted funds 6,316,802 224,370 340,213 97,775 PRIOR YEAR ft•valuatlon Funds held as at 31112123 Ixld as at lJxom1 flesre•S (losses) UnrestrEcted fvNts 799 015 5,431,407 53,784 140,164 6 316W2 Pa8e116
NOTESTOTHE FANCIALsTAT£MENTs FOR THE YEM ENDED 31 DECEMaER 2924 I& RELATED PARTY TRANSAcrioi P A aa and the dlrertors of Mllls & Reeve Trust Corporatlon Limlted are all members of Mllls & Reeve LLP. Mllls & R¢eve LLP ts tfr firm of so1tOrS mana8ln8 the estate of the deceased to whkh the le8acy hKorne relatss to. MA1$ & Reeve LLWS fees for this Work are payable out of the estate of the deceased and nothltB1s payaljle by the Charltyto Mllls & Reeve LLP In regard to thls matter. Otherwlse there were no rtlated party tfans•¢(k)ns durfn8 etther the current or previous years. Pa8e117