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2025-04-22-accounts

Trustees’ Annual Report for the period

From 23 April 2024 To 22 April 2025

Charity name: Mr Herbert Miller’s Settlement Trust Charity registration number: 233334

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The object of the charity is to hold the Trust
Fund upon trust during the period of one
thousand years from the date hereof to pay
the income thereof to the Society for the
Propagation of the Gospel, for the purposes
of the Society and upon expiry of the said
period upon trust as to both capital and
income for the said Society absolutely.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In furtherance of the charity’s objects for the
public benefit the trustees provide grants.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 In determining the charity’s activities, the
trustees have had regard to the Charity
Commission’s guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 N/A
Policy on social investment
including program related
investment		 Para 1.38 N/A
Contribution made by
volunteers		 Para 1.38 N/A
Other N/A

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 During the year under review the charity
made 9 grant payments to the following
charities totalling £59,943.

The
United
Society
for
The
Propagation of The Gospel

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41 N/A
Performance of fundraising
activities against objectives
set		 Para 1.41 N/A
Investment performance
against objectives		 Para 1.41 N/A
Other N/A

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 At the end of the reporting period the charity
had free reserves of £12,598 (2024:
£12,869).
In addition to the free reserves the charity
has bank balances of £16,993 (2024:
£67,785)
and
investments
valued
at
£2,273,150
within
the
expendable
endowment fund which can be released to
support the activities of the charity.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The Trustees pursue a policy of maintaining
a free reserve available to be spent in the
furtherance of the charity’s objectives as
well as covering future needs, opportunities,
contingencies and risks.
Amount of reserves held Para 1.22 £12,598
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the		 Para 1.23 N/A
charity continuing as a going
concern
Additional information (optional)
Youmay choosetoincludefurtherstatementswhererelevantabout:
The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 N/A
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 N/A
A description of the principal
risks facing the charity		 Para 1.46 N/A
Other Expendable endowment funds are those
which are required to be invested to produce
income, but which may be transferred to
unrestricted funds at the discretion of the
trustees in order that they may be expended
in furtherance of the charity’s objectives.
Unrestricted income funds are available for
use at the discretion of the trustees in
furtherance of the general objectives of the
charity and which have not been designated
for other purposes.
Structure, Governance and Management
Description of charity’s
trusts:
Type of governing document Para 1.25 Deed of Settlement dated 20 February
1958
How is the charity
constituted?		 Para 1.25 Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or bodyentitled		 Para 1.25 Trustees are appointed by the exiting
trustee from time to time.
Structure, Governance Structure, Governance and Management and Management
Description of charity’s
trusts:
Type of governing document Para 1.25 Deed of Settlement dated 20 February
1958
How is the charity Para 1.25 Trust
constituted?
Trustee selection methods Para 1.25 Trustees are appointed by the exiting
including details of any trustee from time to time.
constitutional provisions e.g.
election to post or name of
any person or bodyentitled
to appoint one or more
trustees
Additional information (optional)
Youmay choosetoincludefurtherstatementswhererelevantabout:
Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51 N/A
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51 N/A
Relationship with any related
parties		 Para 1.51 No trustee received any remuneration or
was reimbursed any expenses in the year
under review.
Ludlow Trust Company Ltd was paid
£13,027 for trust administration and cash
management charges during the year under
review. These fees are authorised under
clause 5 of the trust deed.
Other N/A

Reference and Administrative details

Charity name Mr Herbert Miller’s Settlement Trust
Other name the charity uses N/A
Registered charity number 233334
Charity’s principal address Ludlow Trust Co Ltd, Tower Wharf, Cheese Lane, Bristol,
BS2 0JJ

Names of the charity trustees who manage the charity

1
2
3		 Trustee name
Ludlow Trust
CompanyLimited

 Office (if any) Office (if any) Dates acted if not for whole
year		 Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee (ifany)
Corporate trustees–names of the directors at the date the report was approved
Director name
GarySt John Collins

Walter Duncan Coxon
Ali Reza Sarikhani

Ziba Christina Sakine
Sarikhani

Christopher Ian Thurlow
Matthew John Wickers

John Stephen Dennis
(Resigned 25/10/2024)
Director name
GarySt John Collins
Walter Duncan Coxon
Ali Reza Sarikhani
Ziba Christina Sakine
Sarikhani
Christopher Ian Thurlow
Matthew John Wickers
John Stephen Dennis (Resigned 25/10/2024)

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
None

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Investment Managers NatWest 2nd Floor, Trinity Quay II, Avon Street,
PO Box 3138, BRISTOL, BS2 2DH
Bankers NatWest 2nd Floor, Trinity Quay II, Avon Street,
PO Box 3138, BRISTOL, BS2 2DH
Accountants Charter Tax Consulting
Limited		 8th Floor, 1 Southampton Street, London
WC2R 0LR
Independent Examiner James O’Rourke Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, West Sussex, PO19
1SY

Name of chief executive or names of senior staff members (Optional information)

N/A

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Chris Thurlow

On behalf of Ludlow Trust
Company Ltd (Trustee)

17 February 2026

17 February 2026
Mr Herbert Miller's Settlement Trust Mr Herbert Miller's Settlement Trust Mr Herbert Miller's Settlement Trust 233334 233334 CC16a
For the period
from		 23/04/2024
Period start date		 To 22/04/2025
Period end date
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
59,346
1,395
-
60,741
-
-
-
60,741
59,943
-
13,012
180
600
15
-
73,750
-
-
-
73,750
(13,009)
12,738
12,869
12,598		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
1,496,618
-
1,496,618
1,496,618
-
10,197
-
-
-
-
-
10,197
1,524,475
-
1,524,475
1,534,672
(38,054)
(12,738)
67,785
16,993		 Total funds
to the nearest £
59,346
1,395
-
60,741
1,496,618
-
1,496,618
1,557,359
59,943
10,197
13,012
180
600
15
-
83,947
1,524,475
-
1,524,475
1,608,422
(51,063)
-
80,654
29,591		 Last year
to the nearest £
Income From Investments 59,346 65,384
Interest Received 1,395 1,044
- -
Sub total(Gross income for
AR)		 60,741 66,428
A2 Asset and investment sales,
(see table).
Sale Of Investments - 1,623,990
- -
Sub total - 1,623,990
Total receipts
A3 Payments
1,690,418
Grants Awarded 59,943 58,639
Investment Manager Fees - 11,720
Trust Administration Fees 13,012 10,017
Independent Examiners Fees 180 780
AccountancyFee 600 -
Cash Management Charges 15 8
- -
**Sub total ** 73,750 81,164
A4 Asset and investment
purchases, (see table)
Investment Purchases - 1,548,319
- -
**Sub total ** - 1,548,319
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
1,629,483
(13,009) - (38,054) (51,063) 60,935
12,738 - (12,738) - -
12,869 - 67,785 80,654 19,719
12,598 - 16,993 29,591 80,654

CCXX R1 accounts (SS)

13/02/2026

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Investment Portfolio
Details
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Capital Account
Income Account		 Unrestricted
funds
to nearest £
-
12,598
-
12,598
OK
Unrestricted
funds
to nearest £
-
-
-
-
-
-
Fund to which
asset belongs
Endowment
Fund to which
asset belongs
Fund to which
liability relates		 Restricted
funds
to nearest £
-
-
-
-
OK
Restricted
funds
to nearest £
-
-
-
-
-
-
Cost (optional)
-
-
-
-
-
Cost (optional)
-
-
-
-
-
-
-
-
-
Amount due
(optional)
-
-
-
-		 Endowment
funds
to nearest £
16,993
-
-
16,993
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
2,273,150
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
-
-
-
-

Signed by one or two trustees on behalf of all the trustees

Signature

Date of Print Name approval Chris Thurlow on behalf of Ludlow 17 February 2026 Trust Company Ltd (Trustee)

CCXX R2 accounts (SS)

13/02/2026

2

Independent Examiner's Report to the Trustees of Mr Herbert Miller’s Settlement Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 22 April 2025.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

17 February 2026 James O’Rourke FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

9