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2025-04-05-accounts

The Billmeir Charitable Trust

Financial Statements

Year Ended 5 April 2025 Charity No.: 208561

The Billmeir Charitable Trust

Report and Financial Statements for the year ended 5 April 2025

Contents
Page:
1 Reference and administrative information
2-5 Report of the Trustees
6 Independent Examiner's Report
7 Statement of Financial Activities
8 Balance Sheet
9-16 Notes forming part of the Financial Statements
17 Appendix
Trustees Jason Whitaker
Suzanne Jane Marriott
Max Whitaker
Charity Registration Number 208561
Registered Office/Address Charles Russell Speechlys LLP, 5 Fleet Place, London EC4M 7RD
Charity Correspondent Tom Payne
Bankers Natwest Bank Plc, Finsbury Square Branch, PO Box 549, 78 Finsbury Pavement,
London, EC2A 1JA
Accountants Charles Russell Speechlys LLP, 5 Fleet Place, London EC4M 7RD
Legal Advisor Charles Russell Speechlys LLP, 5 Fleet Place, London, EC4M 7RD
Independent Examiner Berringers LLP, Lygon House, 50 London Road, Bromley, Kent BR1 3RA

1

The Billmeir Charitable Trust

Report of the Trustees for the year ended 5 April 2025

The Trustees present their report for the year ended 5 April 2025 under the Charities Act 2011, together with the financial statements for the year, and confirm that they comply with the requirements of the Act, the Trust Deed and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2015.

- Organisational and Decision Making Structure

The Trustees are considered to be the Key Management Personnel of the Trust and are actively involved in the administration of the Trust. The Trustees meet annually to review applications for funding, investment performance, income levels and the financial statements. In between the Trustees' Meetings, relevant applications are considered and presented for consideration at the Annual Meeting.

Structure, Governance and Management

The Billmeir Charitable Trust is an unincorporated registered charity, established by Deed on 6 March 1956. Under the terms of the Deed, the Trustees have an absolute discretion to pay or apply the Trust Fund and the Income thereof for the benefit of, or in furtherance of, any charitable purpose wheresoever situated.

The Trustees are considered to be the Key Management Personnel of the Trust and are actively involved in the administration of the Trust. Trustees serve an indefinite term based on their relative experience and contribution to the Charity as a whole. The Trustees keep the skill requirements of the Trustee body under review and in the event that a Trustee retires or additional new Trustees are required, the existing Trustees collectively discuss the change. There is no formal induction or training of new Trustees. However, appointment is by nomination and the Trustees review the skills of each nominated person to select members with the relevant experience and skills.

On the agreement of all existing Trustees, a new Trustee may be recruited. The background to the Charity is provided to the prospective new Trustee before appointment and further information is then shared at the annual Trustees' meetings. This information includes a brief history of the Charity, a copy of the previous year's financial statements, a copy of the previous Trustees' Minutes, and a copy of the governing Trust Deed.

Funding requests are received by the Charity Correspondent who then forwards the relevant applications to the Trustees for consideration.

All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 4 to the accounts. Trustees are required to disclose all relevant interests and in accordance with the Charity's policy withdraw from decisions where a conflict of interest arises.

Risk Management

The Trustees are responsible for the management of the risks faced by the Charity. Risks are identified and assessed, and controls are established, throughout the year. A formal review of the Charity's risk management process is undertaken on an annual basis. The key controls used by the Charity include formal agendas and minutes for all Trustee meetings, comprehensive planning, budgeting and accounting and clear authorisation and approval levels of all grants and other expenditure.

Through the risk management processes established, the Trustees are satisfied that the major risks identified have been adequately managed. The major risks identified by the Trustees are financial, being the volatility of investment returns on the managed portfolio and the proper use of the grants given by the Trust each year.

2

The Billmeir Charitable Trust

Report of the Trustees for the year ended 5 April 2025 (continued)

Object, Objectives and Principal Activities for the Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and planning future activities and setting the grant making policy for the year.

The current main aims of the Charity are:

The main objectives for the year are shaped by these strategic aims with a view to continuing to fund chosen general charitable causes in line with the Trust Deed.

The Charity carries out these aims and objectives by:

Grant Making Policy

The Charity has established its grant making policy to achieve its objectives for the benefit of the public in general. The Trustees search for appropriate beneficiaries principally in Surrey. Unsolicited applications are not welcome, and are very rarely successful. In a typical year around 50 grants are made, of which up to 30 may be described as regular. Financial circumstances will be relevant only in determining the amount of an award.

The Trustees have a particular focus on education and bursary provision mainly through endowments. This serves the community by promoting inclusion and diversity, and providing long term benefits and opportunities via a sustainable funding model.

The Trustees request reports from the recipients of their donations to provide details of how grants have been allocated and spent. Grants are only continued where the applicant provides sufficient relevant information to the Trustees and satisfies the Trustees that continuation of funding is in the interest of the Charity and are a benefit to the public as a whole.

Achievements and Performance

The total income of the Trust for the year ended 5 April was £4,095 lower than during the previous year. The Trustees are satisfied with the level of income received and that they have distributed and monitored a suitable level of donations to various organisations in line with the Trusts' objectives. It is apparent from the feedback received by the Trustees that the amounts provided to organisations have had a positive affect on their circumstances.

Investments are shown at fair value rather than cost in accordance with the Statement of Recommended Practice: Accounting by Charities. In the year to 5 April 2025, the Charity made a net realised gain on disposal of listed investments of £735,883 (year ended 5 April 2024: £293,606) and an unrealised loss on listed investments of £(1,204,188) (year ended 5 April 2024: gain of £319,728).

3

The Billmeir Charitable Trust

Report of the Trustees for the year ended 5 April 2025 (continued)

Financial Review (Including Reserves Policy)

The Trustees are pleased to report income resources for charitable purposes of £238,906 (year ended 5 April 2024: £243,001). Donations of £191,650 (year ended 5 April 2024: £238,000) were granted in the year.

The grant administration and governance costs of the Charity for the year ended 5 April 2025 were £25,035 (year ended 5 April 2024: £23,999). The Trustees report an income surplus held at 5 April 2025 of £911,049 (year ended 5 April 2024: £859,951).

The Trustees have a balanced investment policy which is medium to high on the basis this generates additional returns over the long term. They aim to maintain free reserves in unrestricted funds at a level which is sufficient to distribute the appropriate level of income of the fund for the year whilst retaining capital for the maintenance and growth of the fund.

Investment Policy

The Charitable Trust Deed confers upon the Trustees wide powers of investment, in all respects, as if they were absolute owners beneficially entitled to the underlying assets. At present the Charity's funds comprise listed securities and cash. These are managed on a discretionary basis by Quilter Cheviot.

Trust monies requiring investment under the Trust may be invested in the purchase of such stocks, funds, shares, securities or other investments of whatsoever nature as the Trustees shall in their absolute discretion think fit. The Trustees shall have the same full and unrestricted powers of investing and converting investments in all other respects as if they were absolutely entitled to the Trust Fund beneficially.

The Trustees' policy is to invest the fund available in a secure market, endeavouring to obtain a reasonable income, compatible with protection of the capital value involved and taking into account inflationary factors. The Trustees monitor the performance of the investments in line with their short and long term aims and objectives, as well as undertaking regular reviews with the investment managers throughout the financial year.

The Trustees confirm that the Charity's assets are sufficient to fulfil its obligations in respect of unrestricted funds and that all investments held by them on behalf of the charity have been acquired in accordance with the powers available to them under the Trust Deed.

Plans for the Future

The Trustees will continue to distribute the income of the Unrestricted Fund each year and any income surplus brought forward whilst maintaining the capital of the Fund. The income resources available for charitable purposes for the next year (to 5 April 2026) are expected to be around £240,000. The Trustees are aiming to distribute income as they see fit during the year ended 5 April 2026.

The Trustees will continue to direct the Charity's funds to general charitable causes which they think fit as laid out in the governing Trust Document.

The Accounts

The Trustees are satisfied with the financial position of the Charity and confirm that they have adequate assets available to fulfil their obligations.

4

The Billmeir Charitable Trust

Report of the Trustees for the year ended 5 April 2025 (continued)

Trustees' Responsibilities in Relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of the income and expenditure of the Trust for that period. In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with relevant legislation. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees by

Suzanne Jane Marriott Date: 03/02/2026

Tr ustee

5

The bSlknelr Ch•rftsble Trust Independent Examlner's Report to the Truxees of the Bllknelr Charitsble Trtsst Independent Examlner's reptrt to the Trustees rf the Bilimelr Charftable Trutt I rep(rt to the charity trustees my examMwtKn of the a((Wr￿ of The 8illrreir Choriiabie Trust for the year ended 5 April 2025. Re5ponslbllltles and ba51s ol report the chanty tnJ5tees of the Trust, yw are re5r4jnsfjb￿ for the WepalatK￿ of the accMts In accwdance (te requirement5 of the Charfies Act 2011 Act). I report In respect ol my exarninallc￿ of rhe Ta￿.$ accwnts camed ￿ll under Section 145 of the Act ènd in carrying out my examlnaticn I have followed ail aF4Kable givffi by the Cha￿ty Commis51on under Sectt¢)n 14515llbl of the Act. IAdepeftdent eX￿1r￿'S statement I can conlimi that i am quallfled to mdertake the examinatkn beca￿￿ l am a of thè Institu￿ tsf Chartered Acctyjntants Sn Eryland Wale5, ¥th1th is of listed bodie5. I have CLNnpieted rny exarnlnat1￿. I c￿￿￿rni that no material mat¢ffs have come to my attentiC￿ In cffinettion I￿1h the examinat1￿ givlng rr cau* to Wieve that in any materfal re5pert: accwrtlng rectrd5 were not iept in respect ol thv Tnjst ¥ req￿red by Sertlth 130 of Att", or the accwnts do Trx actiyd wlth those recwds" ar the accounts do not ccmrAy with the awAicable rewirements c(#Kerning the fwm and ((￿tent of at(0￿ts set wt In the Charities IAcctyJftts and Rer￿t51 Rewlaticffis 2fA)8 other than any Tequiremènt that the accwnt5 wve a true Jnd fair vivw which is not a rnat￿r ¢￿￿d￿e￿ as part of an independent e¥amin?tion. I have no tmcerns and have acr05s no other matter5 in conrection the examinatlm to wh5ch attentlon should be dra%¥n ￿ this repwt ift trder to enable a understandiTrg of the accOL￿ts to be ￿aChed. Paul Allan Socsc FCA The Institute tsf Chartwed Accthmtonts th Erqland and Wales Bethngers LLP Chartered Acc￿￿tants Lygon House 50, L￿￿00 Road Bfomley Kent BR1 JRA Dale

The Billmeir Charitable Trust

Statement of Financial Activities for the year ended 5 April 2025

Notes
Income from
Investments
2
Bank Interest
Total
Expenditure on
Investment Management Costs
Charitable Activities
Support Costs
3
Activities Undertaken
3
Total
Net gains/(losses) on investments
7
Net movement in funds
Total funds at 6 April 2024
Total funds at 5 April 2025
Net income/(expenditure) before net
investment gains/(losses)		 Income
Account
£
228,203
13,685
241,888
-
(860)
191,650
190,790
51,098
-
51,098
859,951
911,049		 Capital
Account
£
(2,983)
-
(2,983)
30,185
25,895
-
56,080
(59,063)
(468,305)
(527,367)
6,784,409
6,257,042		 Total
Unrestricted
Funds
£
225,220
13,685
238,906
30,185
25,035
191,650
246,870
(7,964)
(468,305)
(476,269)
7,644,360
7,168,091		 2024
£
228,728
14,273
243,001
27,838
23,999
238,000
289,837
(46,837)
613,334
566,498
7,077,862
7,644,360

The notes on pages 9 to 16 form part of these financial statements

7

The Billmeir Charitable Trust

Balance Sheet as at 5 April 2025

Notes
Fixed Assets
Investments
7
Cash with Investment Manager
7
Current Assets
Cash at bank and in hand
8
Debtors
9
Current Liabilities
Creditors: amounts falling due within one year
10
Net current assets
Total net assets
Funds of the Charity
Unrestricted Capital Account
Unrestricted Income Account		 £
£
6,535,014
320,320
6,855,334
318,900
1,056
319,956
(7,200)
312,756
7,168,091
6,257,042
911,049
7,168,091
2025		 £
£
6,962,297
184,485
7,146,782
556,963
2,501
559,464
(61,885)
497,578
7,644,360
6,784,409
859,951
7,644,360
2024		 £
£
6,962,297
184,485
7,146,782
556,963
2,501
559,464
(61,885)
497,578
7,644,360
6,784,409
859,951
7,644,360
2024
7,644,360
6,784,409
859,951
7,644,360

Approved by the Trustees and signed on their behalf by:

Suzanne Jane Marriott Date: 03/02/2026 Tr ustee

The notes on pages 9 to 16 form part of these financial statements

8

The Billmeir Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

1 Principal Accounting Policies

(a) Basis of Accounting

These accounts have been prepared for the year to 5 April 2025. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102) issued on 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Trust constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound.

(b) Assessment of Going Concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

At the year end the Trust had positive unrestricted reserves. The Trustees believe that the Trust's financial statements should be prepared on a going concern basis on the grounds that the Trust has sufficient liquid resources and that the Trustees have the power under the Trust Deed to utilise the expendable capital account for charitable purposes at their discretion if required.

The Trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees are of the opinion that the Trust will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 5 April 2025, the most significant areas that affect the carrying value of the assets held by the Trust are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the Trustees report for more information).

(c) Fixed Asset Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Trust does not acquire put options, derivatives or other complex financial instruments.

As noted above the main form of financial risk faced by the Trust is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

9

Notes to the financial statements for the year ended 5 April 2025

The Billmeir Charitable Trust

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

(d) Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. They have been discounted to the present value of the future cash receipt where such discounting is material.

(e) Cash

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

(f) Creditors and Provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the Trust anticipates it will pay to settle the debt.

(g) Income Recognition

All income is recognised in the period in which the Charity is entitled to receipt, the amount can be measured with reasonable certainty, and it is probable that the income will be received.

Dividends and interest from listed investments, including associated tax credits, are credited to the statement of financial activities when they are receivable by the charity. Bank interest is credited to the statement of financial activities when it is receivable by the charity.

(h) Expenditure Recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Expenditure is included in the statement of financial activities when incurred and includes attributable VAT which cannot be recovered. The costs of raising funds comprise those costs directly attributable to managing the Charity's investment portfolio and raising investment income.

Charitable activities comprise grants payable in pursuance of the objectives of the Charity and in meeting the costs of administering the donations. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching to them are fulfilled. Grants offered subject to conditions which have not been met at the year end, are noted as commitments but not accrued as expenditure in the accounts.

10

Notes to the financial statements for the year ended 5 April 2025

The Billmeir Charitable Trust

Charitable activities also comprise governance costs which include costs which are directly attributable to legal procedures necessary for compliance with statutory requirements.

(i) Foreign Currencies

Assets and monetary liabilities in other currencies at the balance sheet date are translated into pounds sterling at the rate ruling on that date. Transactions during the year have been translated into pounds sterling at the rate ruling on the date of the transaction. Exchange differences arising during the year are dealt with in the income account or the capital account.

(j) Funds Added

Funds added to the Trust are credited to the capital account when receivable.

(k) Unrestricted Funds

The Charity has two unrestricted funds which are capital and income. It is the Trustees intention that income is to be applied to or for the benefit of exclusively such objects or purposes as are for the time being charitable in law and that the capital account may be applied in the same manner as far as necessary.

(l) Taxation

The Trust is a registered charity under the Charities Act 2011 and is not liable to UK income, corporation or capital gains tax on its income and chargeable gains as these fall within the various exemptions available to registered charities.

(m) Investment Management Fees

The fee structure of Quilter Cheviot changed for the year ended 5 April 2022 to a standard charge model away from a commission fee model. The purpose of the change is to improve visibility and clarity of fees. As a result fees are directly incurred by the Trust whereas previously all fees were comprised in transaction costs.

11

The Billmeir Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

2
Investment Income
Income from Listed Securities
Interest received
Accrued interest purchased in the year		 2025
£
192,072
36,131
(2,983)
225,220		 2024
£
200,307
30,667
(2,246)
228,728
3
Charitable Activities
Arts and Culture
Education
Medical Research/Aid
Religious Activities
Relief for those in need
Other Charitable Purposes		 Activities
Undertaken
Directly
(see note 5)
£
25,650
69,500
54,000
15,000
22,500
5,000
191,650		 Support
Costs
(see note 6)
£
3,351
9,079
7,054
1,959
2,939
653
25,035		 Total
2025
£
29,001
78,579
61,054
16,959
25,439
5,653
216,685		 Total
2024
£
31,924
102,928
69,903
14,861
25,870
16,513
261,999

4 Information regarding Trustees and Employees

The Trust had no employees. No Trustee received remuneration or reimbursement of expenses during the year. The Trustees have not purchased indemnity insurance. Suzanne Jane Marriott, Trustee, is a Partner in Charles Russell Speechlys LLP who provide legal support to the Trust. In the year ended 5 April 2025, legal costs of £24,150 were charged to the Trust by Charles Russell Speechlys LLP (2024: £7,199).

During the year, a donation of £1,600 (2024: £3,000) was made to Gainsborough's House Society, a charity who shares a trustee with the Billmeir Charitable Trust.

12

The Billmeir Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

5
Donations
ABF The Soldiers Charity
All Saints Church of England School (Tilford)
Alzheimer's Society (Elstead Area)
Arundel Castle Cricket Foundation
Bowel Cancer UK
Cambrian Learning Trust
Cancer Research
Challengers
CRELD1 Warriors
Crohn's and Colitis UK
Junior Diabetes Research Foundation
Earl Mountbatten Hospice
Elstead Cricket Club
Farringdon Learning Trust
Gainsborough's House Society
GASP Motor Project
Historic Royal Palaces
Home-Start (Surrey Area)
Imperial War Museum
Institute for Cancer Vaccines and Immunotherapy
Linden Lodge Charitable Trust
Longcot and Fernham Cof E Primary School
Marlborough College
Motor Neurone Disease Association
Music In Hospitals
National Arts Collections Fund
Northwood African Education Foundation
Oakleaf
Parochial Church Council of St. James, Elstead
Parochial Church Council of St. Michael's Church, Inkpen
Reed's School, Cobham
Royal British Legion Elstead
Sarcoma UK
St Bartholomews Church Sproxton
St James Primary School
St Mary's Church Little Coxwell
Surrey Air Ambulance
Surrey Community Foundation
Surrey Crossroads (Crossroads Care)
Surrey Drug and Alcohol Care
Balance carried forward		 2025
£
5,000
-
3,000
-
-
5,000
3,000
3,000
2,000
3,000
-
-
-
-
1,600
2,000
5,450
3,000
-
2,000
-
-
25,000
5,000
2,000
-
3,000
2,000
15,000
1,000
25,000
10,000
3,000
-
-
-
5,000
5,000
2,500
2,000
143,550		 2024
£
10,000
2,000
3,000
3,500
3,000
-
-
2,500
-
2,000
5,000
1,000
10,000
5,000
3,000
2,000
3,000
2,000
1,500
2,000
2,000
7,500
27,000
5,000
2,000
2,500
3,000
2,000
7,000
1,000
25,000
-
6,000
3,250
10,000
3,250
5,000
5,000
2,500
1,000
180,500

13

The Billmeir Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

5
Donations (continued)
Balance brought forward
The Marlborough Mound
The National Gallery Trust
The New Ashgate Gallery
The Watts Gallery
Three Pillars Project
Time-2-Talk
Treloar School and College
Wellington College Foundation
Woodlarks Campsite Trust
Woodlarks Centre
Donations to organisations under £1,000: 2 (2024: 0)
Total donations made in the year
Outstanding cheques from prior years written back
Total donations (note 3)
6
Support Costs
Income
2025
£
Accountancy Fees
-
Auditor's/Independent Examiner's Fees
(860)
Legal fees
-
(860)		 Capital
2025
£
3,465
(1,720)
24,150
25,895		 2025
£
143,550
2,000
2,900
2,500
10,000
1,000
2,000
2,500
25,000
2,500
2,500
1,200
197,650
(6,000)
191,650
Total
2025
£
3,465
(2,580)
24,150
25,035		 2024
£
180,500
2,000
-
5,000
10,000
-
3,000
2,500
25,000
5,000
5,000
-
238,000
-
238,000
Total
2024
£
12,600
4,200
7,199
23,999

The Auditor’s / Independent Examiner’s Fees’ are negative in the year due to an over provision in the previous year.

14

Notes to the financial statements for the year ended 5 April 2025

The Billmeir Charitable Trust

7 Fixed Asset Investments

The portfolio is structured to provide a wide range of diversification to protect the Trust's assets, and to provide a balance between income and capital growth in accordance With the FTSE All Share Index.

£
£
Market value at 6 April 2024
6,962,297
Acquisitions
1,366,815
Disposals
(1,325,793)
41,022
Realised gain/(loss)
735,883
Unrealised gain/(loss)
(1,204,188)
(468,305)
Market Value at 5 April 2025
6,535,014
Cash held with investment managers
320,320
6,855,334
Historical cost at 5 April 2025
5,672,782
Microsoft Corp Com USD0.000006 Cl 'A'
3.5% Treasury Bond 22/10/2025
8
Cash at bank and in hand
Natwest account
Charles Russell Speechly client account
Charles Russell Speechly deposit account
9
Debtors
Dividends receivable
Interest receivable
The following investments represent the largest individal holdings in the
portfolio:
2025		 £
£
6,269,816
1,212,215
(1,133,068)
79,147
293,606
319,728
613,334
6,962,297
184,485
7,146,782
7,654,778
Market Value
195,383
2.99%
199,176
3.05%
2025
2024
£
£
58,359
556,963
30,541
-
230,000
-
318,900
556,963
2025
2024
£
£
-
2,501
1,056
-
1,056
2,501
2024		 £
£
6,269,816
1,212,215
(1,133,068)
79,147
293,606
319,728
613,334
6,962,297
184,485
7,146,782
7,654,778
Market Value
195,383
2.99%
199,176
3.05%
2025
2024
£
£
58,359
556,963
30,541
-
230,000
-
318,900
556,963
2025
2024
£
£
-
2,501
1,056
-
1,056
2,501
2024
6,962,297
184,485
7,146,782
7,654,778
2.99%
3.05%
2024
£
556,963
-
-
556,963
2024
£
2,501
-
2,501

15

The Billmeir Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

10
Creditors: Amounts falling due within one year
Accountancy Fees
Auditor's/Independent Examiner's Fees
Legal Fees
Donations payable		 2025
£
-
1,200
6,000
-
7,200		 2024
£
3,150
8,400
2,335
48,000
61,885

16

The Billmeir Charitable Trust

Appendix

Schedule of Investments

5 April 2025

17

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
77,020 44,400
143
765
75
503
278
375
(5,067)
210
398
75,000.00 71,953 40,800
300,000 5,067
300,000 3,000 5,067 (2,067)
60,877 118,003
875.00 60,877 58,207
107,463 71,885
1,429
1,424
(50,000) (107,463)
200 50,551
200 50,551 56,545
72,026.65 107,463
72,026.65 107,463 69,628
46,455 156,883
174
168
750.00 101,437 26,801 74,636
74
72
550.00 19,654 62,116

1

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
5,432 65,919
1,328
1,301
2,000 77,857 5,432 72,425
1,327
63,418 87,872
600.00 63,418 79,584
17,517 107,356
134
132
134
137
800 17,517 116,897
31,062 145,978
859
812
866
650.00 97,225 14,684 82,541
534
725.00 16,378 66,381
30,000.00 109,650
(30,000) (109,650)
110,288.122 109,650
110,288.122 109,650 95,565
100.00 71,878
111
108
107
100.00 71,878 47,980

2

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
89,580 46,508
923
945
945
945
112,500 89,580 51,570
27,367 106,200
776
1,680
1,000 27,367 108,080
76,945 65,200
2,100
50,000 76,945 70,100
77,108 114,250
2,829
1,939
5,000 77,108 82,575
98,305 114,942
143
2,916
425
414
60,000.00 98,305 112,713
4,852.00 22,806
4,974.00 23,529
2,174.00 11,087
372
12,000.00 57,421 55,248

3

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
141,739 144,337
174
189
187
188
2,085.00 141,739 113,517
62,757 102,304
872
848
869
899
800 62,757 88,911
75,840 84,767
586
555
588
604
1,800 75,840 97,637
9,860 92,609
1,042
1,535
3,250 9,860 65,390
69,970 42,321
1,607
1,607
1,607
35,714 52,325 69,970 (17,646)
55,285 38,002
1,002
1,007
7,500.00 55,285 47,333

4

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
58,816 169,550
1,602
2,000 69,251 23,526 45,724
789
3,000 35,290 97,380
74,706 96,045
636
618
660
651
1,000 74,706 80,934
33,665 176,000
630
500 79,209 16,832 62,377
610
261
284
500 16,832 60,332
67,117 68,595
280
274
286
290
280
289
289
273
286
333
291
194
85,000.00 67,117 68,102

5

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
76,710 108,570
713
205
35,000.000 76,710 102,995
106,326 133,269
2,423
2,423
2,423
2,423
96,923 106,326 101,769
13,163 149,914
1,472
1,380
6,500 97,321 9,300 88,021
405
405
2,700 3,863 38,273
98,900 109,963
4,750 98,900 111,388
111,713 81,675
527
825
1,171
175
310
1,036
942
404
65,340 111,713 70,437

6

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
8,500 68,646
8,500 68,646 64,600
50,202 47,520
216
384
12,000 50,202 39,180
82,342 187,200
4,788
5,000 118,199 45,746 72,453
1,052
4,000 36,596 68,400
99,031 81,250
2,646
2,717
65,000 99,031 71,240
100.00 50,796
100.00 50,796 43,556
58,993 67,557
1,209
1,550.00 60,202 61,318
500 78,795
410
428
500 78,795 81,554

7

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
60,509 40,800
630
630
630
(49,872.0000) (50,295)
10,128.0000 9,829 10,214 (385)
76,666 73,150
550
550
1,320
550
55,000 76,666 69,300
49,872.00 50,295
49,872.00 50,295 40,197
72,747 100,154
552
1,750.00 73,299 87,999
108,054 141,660
1,643
1,440
1,440
1,440
18,000 108,054 146,880
63,177 163,215
9,510
3,900
65,000 63,177 144,625

8

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
200.00 72,270
219
233
200.00 72,270 67,943
125 68,779
428
125 68,779 56,349
57,021 65,799
514
659
45,000.00 57,021 58,406
25,000.00 49,097
25,000.00 49,097 46,088
85,000 68,649
303
275
404
310
331
337
326
380
333
291
294
318
92,338.00 85,000 68,926
61,832 101,284
511
499
552
1,000 61,832 63,194

9

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
100.00 58,325
34
100.00 58,325 39,151
78,331 235,712
349
342
387
381
700 78,331 195,383
56,766 53,803
288
279
306
327
1,000 56,766 51,435
76,025 110,835
2,474
2,512
6,750 76,025 95,175
100.00 53,166
100.00 53,166 66,387
59,870 50,788
345
333
347
372
1,000.00 59,870 51,900

10

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
49,282 56,631
1,491
750 49,282 62,225
350.00 39,023
102
400.00 26,175
483
750.00 65,199 36,921
500.00 47,888
3
3
3
500.00 47,888 36,577
116,560 132,680
755
1,877
1,668
560
10,000.00 116,560 133,500
325 82,024
325 82,024 77,428
85,150 66,736
1,720
1,806
86,000.00 85,150 78,604

11

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
68,095 68,951
308
293
295
288
304
299
285
295
286
297
295
262
95,000.00 68,095 69,179
111,413 119,843
3,547
2,593
800 111,413 118,821
17,296 99,490
4,075
2,685
2,000 17,296 84,780
250 59,376
1,383
250 59,376 59,004
131,567 139,610
1,891
1,922
2,037
1,960
115,000.000 131,567 139,840

12

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
2,620 3,423
150 3,414 2,620 794
55,732 93,512
1,172
525 100,835 55,732 45,104
73,104 112,080
60,000.00 109,200 73,104 36,096
148,356 115,564
2,440
2,440
2,440
2,440
141,970.00 148,356 105,342
45,650 222,400
2,155
4,000 109,480 22,825 86,655
1,046
1,081
1,112
4,000 22,825 99,260
56,956 96,101
2,067
200 37,443 17,525 19,918
450 39,431 71,046
29,095 24,600
6,000 27,137 29,095 (1,958)
720

13

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
200.00 52,950
105
115
200.00 52,950 53,646
96,800 60,640
1,212
1,212
1,224
1,224
80,000 96,800 59,760
49,014 82,870
1,465
755
17,763 49,014 60,394
57,966 51,442
33
32
32
34
125.00 57,966 42,459
69,064 57,319
281
275
381
375
650 69,064 125,094
65,049 65,130
1,625
1,625
65,000 65,000 65,049 (49)

14

Acquisitions Disposals Closing
Cost Value Units Cost Units Proceeds Cost Profit/Loss Units Cost Value Income
£ £ £ £ £ £ £ £ £
66,654 66,089
1,138
1,138
70,000.00 66,654 65,293
100,000.00 99,226
1,750
100,000.00 99,553
200,000.00 198,779 199,176
67,645 67,374
1,392
1,392
67,500.00 67,645 67,725
100,993 145,188
1,737
1,737
1,737
2,080
95,205 100,993 125,956
62,701 60,036
1,350
1,350
60,000.00 62,701 56,904
1,858 95,925
919
924
916
944
2,500.00 1,858 117,350

15

Disposals
Cost
Units
£
75
325
600
69,463
1,366,815		 Closing
Proceeds
Cost
Profit/Loss
Units
£
£
£
42,821
22,817
20,004
175
99,006.00
82,829
26,030
56,799
420
41,983
47,541
(5,558)
500.00
1,325,793
589,910
735,883		 Cost
Value
Income
£
£
£
272
262
275
300
53,241
76,636
1,406
1,406
495
911
1,188
248
102,306
53,661
259
251
294
167
33,638
102,013
178
145
167
69,463
58,847
5,672,782
6,535,014
226,442

16