RECISTE4 RED CHARITY NUMBER: 282357 REPORT ofi THE TRUSTEES AND AUDITCID f￿ANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 FOR THEI MILLICHOPE FOUNDATION D.R.E. & Co. (Aiidiil Limited Kiiig51aiid HoL)Se 39 Abbey FiJiegai¢ Slirew8kniry Sliropsliire SY2 6BL THE MILLICHOPE fiOUNDATION CONTII NTS OF TFlb lilNANCIAL STATF.P*lF,NTS FOR I'HE YEAR LNDED 5 AI)RII. 21125 Page Rei)¢Ji't ot. the Triislees Ileporl Of Ilie Inrlependeiil Aultiloi talement nfFinuneiul ALtivitiv BvlaiiL¢ Sliecl 10 Cosli Flow Stutethellt Notes ta the Casli Flow Stalen)enl 12 Note5 Ili¥ FlnAncial Sialwnenls 13 lo 21 Delalleil Slatvnient of Flnaiieliil Aellvltles 22 lu 23 S¢hedule vf Don&tloiis Appendix I Scliedule of lJlSted liivestnients App¢iidix 2 Investinent Acquisitioii% And Disposals Appeiidix 3 THE MILLICHOPE fiOUNDATION RlIP()RT OF THF TRIJSTEES riOR THEY AR DF. The liw%tees piesent iheir report with the financial stalemejiis of the th￿.itY for ihe year elided 5 April 2024. The tnistees IIHv¢ adopted ihe piDvisions of Accoiia)iing ai)d Reponiiig by Cliaiiiies: Siatemeni ol Recommended Pfaciice applicable lo cliai-itie5 PL-epaTIRg Iheii. accounts in uccor(laiice willi Ilie bin&ncial Reporting Staiitlard applicable iii Ihe UK aiid Repiiblir o( Ireland (FR8 102). OBJECTIVES AND ACTIVITIES ObJeLtlYes and Aliiis Tlic objects nf Ihe irnsl a￿ io distTibiitc Ilie trust's in¢oine by way of dot)alioAs to chariinble ¢aus¢s sele¢led ai the discretion of the tTuslees. The Ini$itC8 hAI'c i)0 PDwer its sponsor individuals oi- 10 Eive gn)]iis to Sttidefits for iheii. edJeatioi). Tlie M*llieliope Foundatioii cari'ies out ils objects by givin8 nioiicy iJ&iionally lo.. Arts. Culiure, Conservation aiid Heriiuge. The ¢haiily ii)akes doJiAIiOI)8 10 all caiegoi'ies of chaiiihble orgaiiisations wiihin aiid in)ii)em iiivestmenLs lolRllcd L311.308 (2024.. £26¥,¥711 ¥aiJis realised oil ihe di.%Pn87¢ l of inYe.%inieiii.% ajnottiilcd lo £38,429 12024: £236,289). CliJi'iidble donalii)iis lot1£ Ilinb) £5()7,274 (2024.. £408.5791 were dÉsbursed and udin11118￿c?llQlI ￿11)(1 tlhrillclEeixeiil expen(lilurc of £76.40312024: £57.190) Ivus inLurred. In ll¢LordMn¢¢ wilh ihc provi4i011s vl. the CliJriiies' SIJi¢Me￿t of Reco￿)mended P￿iLLIce (SORP FRS 102}. fixed ii%%el iIIVLSllllCtils hiivc becll incliidcd iji Ihc balance slie¢l 471 f4ttl' V11 S￿¢ giving rise to UllfLcTrlised losses ii) th¢ y¢411' (¥f £257.73.5 for listetl iiiveslEnenlg {2024', uiirealised gAins ol. £153,991). The Iniiil m£irkel y￿1]UC of thL lisied ijivesinients 4t1 fiih Ai?Til 202.fj Ivas. in the opÈn2011 of the TTuslee5. £5,78.1.081 12024.. £6,199,510), whicli in ¢iddilion io c4tsli al b' level. The li-u%lces LOJ15ider ilitkl mainltiininL the ie4ervey ai higli levLI ivill bes1 Imcei ihL objccls of lh¢ chi1111y as thi5 5hoiild g¢ntl'£ll¢ sufficieiil iTrcoine iYlii¢li will be 4lWLiiILible foi. disiribiiltoii 10 oihei. Lliaritable oi'gaiiisaiian%. Tlie cli£irity's flind$ Laii'ied foiwaid al 5tli April 2025 lolal £8.182,IM)6 (2024.. £¥.521,405). CJl)iR&v concvi'ii The trii8leeE kre not liwa￿ ol any nialerial uJiceitaintie.% regarding Ilie Lliurily's thbilily io ¢unltnue lo opeiate a5 # g4)iii cojicern. ￿)cY hai'c conclu(led thal ihc chdiily hos siifticient r¢%erves to enable il lo iiicel ils Loinmilled don?tkons Ihey fall due ¢iiid 11)ai Ilje &?oiiibTr coneei'n uf prep4ir￿lI1017 ieiiiillll4 %?ppropiialc. FUTURF. PI.ANS The chaTily'% aiins for the fuiure are 10 coniiiiue lo iiiake donalton% to V4Thfiou5 chariiable organisalions lo deliver pul?lic benefji. s'rRUCTURF., GOVERNANCF. AND MANAGTr.MF.NT Gi>vtri)liig Ilocumenl The MilliLliope Foiindalion is ttii uniiicorponied cli￿}fily, wiisitiiiled by Tr*Jsl Deed d&led 20111 tkLeiiiber 1993. Reci'uitntent appoiiitmenl ofnrw ti'ustees Ai)pniiiiineiil of IJ'u%ree% 1% goverjied by Ilie Tn*81 Deed r>f ilie th*rily, %vl)ich $liile.q that Ihc power of api)oÉnliJig iiew trusiees h4111 be ve¥ied iii Ili¢ Sctilors dui'ing tl)eii' live8. The Settlors dre Mi. L C N Bury ¢lnd Mj's S A Bury. Oi'gani.solioi)al slrlleliii'e (leclsion innkiiiE The ii-iislees iiieel severRI limes a year In ¢on8i(ler rhe pei'foi'm8tice of ilie iiivesliMeni8 anil iu tonsidti. applic&lioJis for doniiiions and gi'4%nis I'roni otlier organi%altons. Two l¥uslees preseiil al 41 meeliri¥ fot721 a qtiowm and (lecisions tire Tnaie Cliarilies Ati 2011. Ba5i5 for opliiloii Ive ¢oiidueied oyr audit in accordaiiee will) Imterjialional Sttstidards on Auditi#g IUKI JSAS (UK)) and applicable li¢ w. OLTrr responsibiltiies uiider Ihose Stan￿ardS Ar¢ furiher de%tribed iii the Audiiors, respojisibilities for the audit of Ilie fiiiancial staleiiieijis seciioii of our repori. We are independeiii of eharily in accordaiicc sviih Ihe eiliical rtquirenient% that ate ielevaiii lo our audiL of the fiiiancial staleineijis iii die UK, including Ilie FRC'S Eiliical Siandayd, aiid we have fuifjlled our other ethical responsibilities iij aCcord￿211cC With these requirements. Ive believe that Ilie audit evideJi¢e have obiaiiYd is sufficieTkt ilnd appropriate to pi"ovide a basis for oui opiiiÉon. Conclu51oMS relatlnE to ¥oliig coiiceni In aiiditit]g thc financial siatcincijts. wc have concluded that tlic trusiecs, use of the goiiig concerrt btssis of accounting sn the preparation of the flL)anciAI slatemeiits is appL"opiiatc. B2sed on the work we have performed. we have not identified WLY maiertal 4JncEriainlies relaling to eveiils or conditions thai, in(livtdually or coll¢¢¢*vely, niay ¢asi signifi¢attt doubt on ih¢ ¢harity'% absliiy lo coiitiiiuc as a goiiig concern for period of at leasi iwelve moiiths froni whell Ihe fit)aiicial statemeiils ate auihorised for issue. Our Tesponsibiltlias the responsibslities of the tTu%i¢es with respeci to goiiig col￿er￿ are described ill t]Je relevaiit 8e¢tioiis of (his repofE. Other fnfoTlI)VItioJi Th¢ trustee% a￿ respothsibl¢ for tlie oiher in(OTinaiioo. The other inf0rn121ion comprises ihe inlormaiioji included in tlje Annual Reporf, (Ml)er than Ilie financial siaten)enis And our RepoTI of the End¢peiid¢ni Aiiditors t]iereon. Our opinion on the fiiian¢tal sialemeiiis does not cover the other ijifoi'njation uiid, except to the extent oÈherw'i5e explicitly staled our repori. we do not express any foriji of assurance collclu5101I Iliere£JD. Iii coiiiicetioii u'iih oui audil of tht fjiiincial %iatel￿tIlt8. Ollr irspoiistbtlily is io read the otlier information and, iii doing 50. cot)sider wlieiher Ihe other iiiformaiioii is niaierially incoiisisient ￿'ith the fiiiancial sthterneiiis or OUT kiioi¥ledge obiaiiied in Ilie 2udil or otherwise appears 10 be inalerially ii)i5Staled. If w'e identify such iiiateTial iiic01151&1enL125 01 dppaTenl i11￿(cr￿al misstaleiiiellts. we are Icquited to dcterjrtinc whether this gives riqe io J niaieTial i)Ji$8taietneiii Etie f￿alicial siaiejnenis Ihetnselvc5. If, based the work we have perforimtd, Iv¢ toncllldc Uiai Ihtrc is a ￿laTerIal 1￿13$1a(emelIt of ihis other infonnalioii. we are required to repori thai faci. Ive liave Jioihing to repott Ihis regaid. h.lalters 011 wlilch ive are requii'ed to i'eport by exeeptloii We hai'e iioihiiig lo report in Te%pecl of the followiiig JnalleT5 wh¢ie tlie CliaTiiie5 (Accounts and Reports) R¢8ulaLions 2008 requires sjs 10 report to you if, iii our opitjion: Ihe iiiforniat%oii giveii ijj the Report of the TNsiees ss inconsislenl iii uiiy inoterial respect with the fjnaiicial 5tafciiicllts: suffi¢ieiit ￿Counting re¢ords have not been kept; or Ilic fiiiancial siateEnenls arL' not ITr aErctineiii willi the accouiiling rccords aiid retiiiiis. or we have iioi received all the iThfomiatioll und explaiialioJs ￿'e require forour udtt. Page 5 REPORT OF THE INDEPENDFNT AUDITORS TO THE TRUSTEES OV THF. TrIILLICHOPE FOUNDATION RespoJL4iI)Illiles of tnistees Ag explained Inore fully in the Sthtemeiii of Tru%lec$' Rebpon5ibililies, Ihe lrustces ure Ff5POIF5ibl¢ for the prep&ralion of the fLnancia] 8i&ieinenis which giv¢ a Irue and fair view. and for %ucli iniettial coiltrol a8 the tru8iees deierikniAe ]* neteiqary 10 eiiable the prepardtioji of fiiiancial gtaLtiiitnt5 that ale free froin malerial niisslaieinenl. wheiher due lo (raud or error. prepu¥l￿g Ilie financial siatemenis, the Iw&lees ure responsible for asses8ing Ihe chariry's ability io ¢oniinu¢ lls d 8oiiig coiicem, disclosillg, as applicable, malleTS relaled lo going concern and iising the gotijg coiicern basis of accountiiig t]iiless Ihe irustees either intend io liqiiidatc the cl)artty or 10 cca%c operaii0i1s, or have no Teali%tic lllteriiaiive bui io do so. Page 6 RFPORT OF THE INDEPENDF.NI' THF. NIJLLICHOPE FOUNDATION UD TORS TO THE TRUSTEE Our respoitslbllltle5 foi. the Audit of the finaiiclal $tateTneiits Ve haiie beeli appointed as auditois ￿lilI￿r ScLliun 144 of the Ch￿riticS Act 2011 and report in accordanee with the Act rel¢voi11 r¢gulation.% Jiiade orhavii)g effect Ihereunder. Our objectives are to obFatn rea80nabl¢ JssiiiaiJ¢e about ivhether Ilie fiiiatlcial sialemeiils as ivhole are frce froin inalerial Inissriiieillenl. wheiher due lo fraud or en'or, &iid to Issue a Repoit of Ihe IT￿ePendent Audit(>rs that includes our opinion. Reasonable a5suraiice 15 41 hsEh level of assurance, but 18 rtot a gDaronlee that ai) audit coiidLrcled iii accordanec willi ISAS (UK) will always detetl I 1114t¢rial niigslaiciiient ￿,hell it exisii. Missiatcn)cnts ¢&ii aTLS¢ fitsiii fraud OT em)r and are cojistdered niarerial if, individually or in ilie aggregate. they Co￿]d Teas0112bly be expecied 10 tnfluence ihe etotjomic deci$iohS of users Likcn oil thc basis of thcsc fijiaiicial stfjternenls. Tlie cxitjii Éo whith our pro¢edure.% are capuble of deieciing irregylari¢ies, itt¢lJding frhud is dethiled b¢low- Our approach lo idciitlfying aiid assessiiig tlie ri5Ls Df maierial niisst&leineJii in respect of irregularities. including fywd ana noii-¢oinpliaiice witli laivs aiid regulatioIis, Ivas as follows: Iltc engagei))erti ptsriner eiisured that ttje ej￿08¢111tnt icani colltciiircly had Ihe appropTialc cornp2tel￿c, capabilitics and skills to id¢nrify or r¢¢ognise non-compliance willi appltcable laws and regulations: we ideJiified ihe laws regulaiion.s &ppli¢able 10 thc clJar%ty Ihtougli discus5ioii% wilh tn]slee5 at)d froi)i our knowlcdgc aiid experiethce of Ihe ¢haTi¢y sector; we focused on sptcific laws and reglllation$ which we considered may liai'e a diitci material effecl on the finan¢itsl stalenieiils or the operations of Ilie cliarity. trncluding Ihe ChfjritiC5 Act 2011. environmenlal. liealLl1 aiid safely IcgislatioTh. we assessed the cxlent of coJiJpliance ￿'ith tlit l&ws aiid regulaiiotts identified aknve ihTough making et>quiries of the In]stees,' identif￿d laivs alid regvlalion% ivere ¢oJniiiuRicatcd withkii ihe audil team regularly and Ihe learn reinaincd alert 10 instances of iion investing acliviliEs 407 508 16.277) Cliangt li) exsli aiid Casli cqulYF41enls IJ) the i'epoi'ting period CA$lI And Cfibli e(iulv&lents at the btginming of the i'eporting pei'iod 259,620 (123,942) 4111879 534.821 Ca¥li #ii(l ¢a511 equlvalents al Ilie eiid of tht rLportiii¥ period 670 499 410.879 Tlic Jiolcs f(Irin part of illese financial slatcii)eiiis Pag¢ll THE MILLICHOPE FnUNDATION NOTES TO THE CASH FLOIV STATEMENT FOR THE I'E4 AR E4NDEI D 5 APRIL 2025 RECONCILIATION OF NET (fi xPEND￿uRB)llNc0ME TO f4F.T CASH FI.OW FROM opfi RATING ACTIVITIES 5.4,25 5.4.24 Net lexpeiidltiire}IlncuTiie for ¢he reptsi'tlng perlD(l (as per tlie Statenient r Fli)#nil¥l A¥liwlfles) A(liiistinL&nts fur: DLpreC&￿iti0ll Loss¢sl{gkinl oil iiiv¢siiMeni8 Iiileresl received Dthi)ated iiives¢ftietiis MoiJei))eiii iii duiiaiions pmvisinn Dividend in spe¢ie Decreuse iii deblors (De¢r¢asellinLrea%e iii Lre(lilo (339,3991 539,413 124 215,306 (4,Y09) {2111,476 187.807 124 (624,6571 14,3741 {110.1541 96,384 110.5851 2.223 3,961 1,21)5 6,5461 Net v8sli used iii op2ratiuns 147 888) 107,665} ANALYSIS OF CHANGES IN NEI. FUNDS Al 6.4.24 C¢l8h flow At 5A.25 Net Cash ui baiik 410 879 25SI,62 fi7O.499 411) 879 259 6211 670 499 Tol81 410 ¥7Y 259.620 670 4119 The nol¢E IoiJD I)L1rl of Ilic%e tinaiicial staleR]eiiis P4ge 12 THE MILLICHOPEI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THF YEI AR ENDED 5 APRIL 2025 ACCOUNTING POLICILS. S15 of prei)arlng tlie fiiiAiielAI stateiilents Tlie financial staiemenis o( the ¢liariiy. whieh is a publÉc beTrcfit cn(ily undcr FRS 102. havc been prepared itt accordance iviil) Ilie Cljarilies SORP IFRS 102) 'Ac¢out)liiig aiid Reponiiig by Cliariiies: S11ilenienl of Recol￿1￿¢11￿ed Prllclicc applicable lo cliaritie$ prep￿I￿g tlieir accounts iii accordaiiee iviili Ilie Fiiiancial Repoiling Siatidard ai)pli¢able in ilie Il)¢ UK aiid RcpublAL of Ireland IFRS 1021., Finuncial RepoTliiig standal￿ 102 The FiiiiitiCl411 Reportiiig Sia]idard iipplicdble in the UK and RepEiblic of Ireland, Ilie Cliarilies A¢1 2011. Thc rii)aiict?£1 Icinenls havc beeli prcpxred under Ilie llistori¢al ¢08t ¢oiiveiiiiort, Iviili tlle ex¢epiion of invesiiKent$ wliich are iiicluded %Trt In?L rket value. modifted by the revaliiatioii of assets. The financial slateiiieiiis ale for Ilie indii'idual enltly only. The fiTrancic11 Slale¥neiiis are presented iii Sieiliiig 1£). Touiided io the nearesi £1. The Millicliope Foundation 1$ an unincorporaled cl)arily aiid ils principal addrcss and rcgislercd th￿11Y Jiujiiber cali be found iviihiii rhe Repori of Ihe Trusiees. Th¢ finaiicial siat¢nici)Is are prepared on k goiiig coneein basis and the ttllstee5 UTC Iiot aivare of aiiy Inalerial un¢erlainlies regarding Ilie charity's llbility to contlllue lo operate as a goiiig c0￿cen}. They have coiicluded 1111¢ t Ilie cljai'iiy has surricieiii reSt￿ts ID eiiable it Iv meei its coinniiiied doiiaiions as they fall and that Ihe going coneei.ii b4si5 of piepatalioji temaiiis appiopi"iate. Ineoikne All in¢oine ts recogniseil in ihe Siatenient of Finkncilll A¢liviiie$ oiice tlie chatily ha5 enlitleiment to ihe funds. il 15 prubmblc thai Ihc tiicome will be teeeived Aiid ihc amouThl can bg n1eas1i￿d reliably. Rental income IEceiYed froni tlie charity's iiivL%tinent properti&s is tinie Lipponioned at)d recogjiised iii ihe accoiEtii% on a pro-rnied ba$i8. ExpeiidRtiii'e Liahilitie8 are re¢ogiiised #i expeiidiiure #s s¢)oi) a5 there is a legal or coi)slrucltve obligation committing the charily ti) thiqt cxpcnditurc. it 18 probable that & Iransfej. of ceoJiDmie henefil8 will l)e iEquiiEIl in.%eiileii)eiJi 3nd the aniauot f ilie obligation can be n)easured reliably. Expendituie is acctsunled for on ali acciiials basis and has bceii classified i)der headii)g$ ihai aggreg2¢ le ?111 cost reliiled io ilie ¢11 iegory. Wliere cosis traiiiioi be direcily ¢11lribii(ed io pariiculiir headings Il)ey hneni ol Fi#iineial A¢iii'ittes. Unli4ied iThv¢slni¢nis in¢lud¢s eiitiilejnenls ivhich Lire IEJclu(J¢J 411 fdlll value £11 LhL h#l#iice sheet dale. Tgiigible fixed a55et$ Tungible fixed cigseis are.*ialed ai c()sl less MccunitJl&ied deprectati￿1 iin(l #¢¢yJi)ulpted imp4Lirnieni 1088es. DepirciL21ioii is provided dl tlie follDiving aiirtulll rdies li) order In wrile off etlLh 115sei i)ver lis estinic?ied iiEefiJl lif¢. Fixlures atid lillinbF8 l.fj% on ¢osl Dehtoi's Oilier debior% ttre recogiii%cd Lil the &eltleiTtent oiiioiinl diie. Pr¢payn)eiit.% are viilii¢(l ui ilie amollnt prepiiid nel of iiny di.¥coiinl.4 due. Ca811 #l blliik Cash al bank iiicludes ￿li￿O￿￿¢S held in b41nk curreilt xccouiils ond iiccoulli% dl Radibones lftire51nieni Mandgeinent Ci'e(Iltoi's gnd provi81Tr1)$ Ci'ediioi's provisiotjs ure rcrogni8e(I where Ihe ¢ll￿.11Y has a piesenl obligiuiion re%iiliinb Iroiij u P14 St eveiil 11)dl will probobly resuli iii Ilie Iransler of fuiid.s Iv a Ihiid pdrly and Ilie Liillouiii diie lo sciile Ilit tsblsgcl1iOn ca]1 be Enea.4ured or c.%tiJnAle(I r¢liably. Creditor% 2nd i)rovi&ioE]8 are norin¢illy rcctsLkiii%ed al Ihcir seiilcmeiii ¢imouni after Illaiving for iljly tra(1¢ disLuiiiils (lue. The cliiirily includes Ji C.￿Li1nalt of the nei pre8eJii value of kts comii)iited fuiyr¢ chdriiuble doniltions. Thib is based on ihe cliar*ty's doii&tioJis register iiiid i discount is applied Iwse(l of the iale of ielurn oil iiivesiiiieiii for ihe churify. FlIi>Jiici&l liistR'Dnients Basic fi￿￿lili}I1 iiistTumeiils ar¢ ii)ill£illy rtLogni8ed a( Iran8aclioi) value and %ybseqLieiiily iiit£isure£l al iheir seiiieiiitnl vklue. iigiiificai)l judgenieihl¥ L'stim￿teS The chcirity ii)4tke.4 e%timai¢% and £?8siiinplions coiicei'niiig the I'viure. The rcsulETriig accountiiig e%iÈini¢ ie4 ivill, by definition. seldom CqU%il Ihe ￿lated ULIUiil resulis. The cstl111?c tes ￿l￿d ii SSitllll)¢ioiis Ih?% I hi2Ve Ll bigiiificant risk (Il. ddressed below. P&ge 14 conlin(ied... THE MILLICHOPE VOUNDA TION NOTb.S TO TIIE filNANCIAL b'fA TEMENTS . coiitiniied 4OR THE YEAR fi IYDED 5 APRIL 2025 ACCOUNTING POLILIES- e4ntinued Tlie Chttriiy makes ¢5tinFal¢ of Ilie fair value of inve51inenÉ property. When as8es$irtg fair value of piDpeily. tllt t[￿SteeS consi(ler farl(Ir5 IIILliiding Il)e coiidilions of the pJ'()perly, any fiiliiie plans for Ilje properly aiid ijidepeJi(Jenl advicc as lo Ilie ciirrenl valiie of properfi¢5 owncd by Il)e ¢liarity. See note I I lor lh¢ net cairyijig amoujil of iE)veslmeni propertie.%. The charsiy ii)c1ke$ an estiiiiate of Ihe net presejit valiie of ir.q commiiicd future charil&ble don2£ IIoJi8 a8 deimilcd iii iiot¢ 14. Tliis is ba%ed 01) the chariiy's doniiioiis registej. and a dis¢ouni 18 applied based of the rate of returTh on iiivesit)ietki. DONATIONS AND LECYACIES 5.4,25 5.4.24 Lisied iiivesiti)entS Oilier doiiaiioiis 201,476 110.154 1,500 208 276 111.654 INVESTMENT INCOME 5.4.25 5.4.24 BeainbFidge Clubfooiii rental in¢uJi)e 36 227,149 79,214 255 191.807 72.435 4,374 JiiveElJiiei)I propeEly ￿lIcoMe Other interest 311308 268,871 RAISJNC FUNDS Ei)veslnient nik)M#¥eineiit costs 5.4.25 5.4.24 Siiyporl Costs 41.179 Page 15 continued... THE MILLICHOPE FOUNDATION OTEI S TO TIIE fi INAh'CIAL STATEMENTS- ioiitliiued FOR THF. YF.AR f4NDF.D 5 APRif. 2025 LHARITAIILE ACTIVITIES LOSTS Suppoil LOSt5 (see nole (?) Direci CosLS Tolf Ihe inve.%iiiieiir alld eonsideied Ihal Ilie fil 11 Vl£ Itie ai Ili&l dtsle WL2.% £1,493.¥75. Uiili%t¢d iiive%lnieJit% 4tI4D iiielude% tive itLVC%tIi)Ll)I pTf)perlies11)¢iiied BfftTIIIiIJLTh4ini. Th¥ Iru%tees cot).%idci' IhL l'air V¢ilue of tliese pr(>perties ￿11 .5 Api"il 2025 wus £895.0(JO in total, btl8ed on 41 Vtiliialion provldcd by li Il)i¥d pdi'iy agency during & pi'inr year. oiiiTriiued... THE MILLICHOPC IfouNDATJON NOT￿ TO THE FINANCIAL STA TEMENTS. continued IOR THE YEAR fi NDfiD S APRIL 2025 12. DEBTORS: AMOUNTS FALLING DUF IVITHtN ONF Yfi AR 5.4.25 5.4.24 Oiher debl(hfS PiepaynieThts aijd ACC￿ed InC￿Tr)e 492 1.551 2,271 2,617 3,822 13. CRF.DITORS: AMOUNTS FAI.LING DUCI IVITHIN ONE YEAR S.4.25 5.4.24 Oiliei. creditors 16.751 23.297 14, PROVISIONS FOR LIABILITILS 5.4,25 5.4.24 Con)Iiiiiied cliaiilable donuiions 750 438 562,631 Ai 5ih April 2024 The Millichope Foundatioi) had coii)ii)iiied lo ii)akiiig ¢hAI'iiable doiiaiions in fuiiire years ol- appTOXltiiaiely £750,43812024'. £562,631). The ¢oniiiiuan¢e of all doiiaiions is al the discirlioTh of Ihe Iru51ee%. MOVEI MENT IN FUNDS Nel ioveillenl in funds At 5.4.25 Ai 6.4.24 Uni'e.stricted fuThds GeiieiTrl fiind 8,521,405 {339,3991 8,182,006 TOTAL fiUNDS 8 521405 {339,3991 8 182 006 Nei iiioveii￿lI¢ fuiid8, in¢liided iii Ihc aboi'c arL ds folloivs.. IAeoniiJ)g ResoiiTee5 expcnded Gains losses Movejneiii iii funds Uiiresli'ieted funds Geiiefal fvnd SI9￿84 1643.677) (215,306} (339J991 TOTAL FUNDS 519 584 (643,677) 21S 306) 339.3991 Pagc 19 coniiniicd... THE MILLICHOPE fioUNDATION NOTES TO THE FINANCTAI, STATEI MENTS- cojitinued F'OII'IRIL YEAII LiF¥DEI D 4 APRIL 2025 Is. MOVTr:MENI' IN FUNDS- c()ntlniioil COMpar￿11ve5 for moyeiiieiit In flinds Nel I￿0Ve1]le￿I in fviidg Ai 5.4.24 Ai 6.4.23 Uni'esti'icle(I fuiids Gencrul fund 7,981,9()2 -$19,413 8.521,405 TOTAL FUNDS 7,981,9()2 539,413 8,521.405 Cvmpuralivc nei Inovcnieiil in fitnds. includcd iii Ihc ubove arc a5 follows.. liiri)Inin resoiirces Re¥i)UL'¢e cxi)Lndcd Gains aiid los%¢s Movenittiil Uiii'esti'icte(I furtd General 1112id 380,525 1465.76YI 624,657 539,413 TOTAL fiUNDS 380.525 465,769) 624,657 539.413 A ciirrcnl yLLir 12 moiiili% prior ye2￿ r 12 Inoiiih5 coinbined i?osilioii 1% as fnllows.. Nei movemeiil Ai 6.4,23 -f.4.25 Unrt'striLteil fiiiid5 General fiind 7,981.992 200,014 8.182.OU6 TOTAI. FUNDS 7,981,992 2UU,OI4 8,182,(X)6 A Current year 12 months and prior yeaT 12 monilis ciTriMbined nei niuvement in funds, iLclude(l iii Ihe db()ve Aiy as rolloivs.. liie01￿lllg 1¢8oiirtt5 ResoiiFCCS expciidcd Gaiii% and lusses Moveii)enl 11 funds Uni'esti'icled fuiids GenerLiI fuiid 900,109 11,109,446) 200,014 TOTAL FUNDS 9110.109 I I, IOL).446) 409.351 200.014 Al.5 Api'il 2Q25 ilic LIl￿ri1},5 fTeely ui'4iilkble reserve5 lolalled £8,182,1]06 {2024.. £8,521,405). Pii ge 20 coniiniied... THE MILLICHOPE FOUNDATION NOTES TO THE FINANCIAL STA TCMEI NTS - coiitliiuLLd FOR THE YEAR ENDE*D S APRIL 2 25 J5. MOVFMENT IN FUNDS- ¢(bnlii)ued All fiiiids are geiieral aiid uniesiiicied Aiid can be used in a¢¢ord&n¢e with the ¢harilable objects al the discretion of Ilie Inistee5. 16. RELATED PARTY DISCLOSURJ See noie 7 for d¢tail% of Tru8le¢8' exp¢i)se.4 paid for Ihe yeRr eiidcd 5111 April 2025. Diiiiiig ihe year donaiiojis were Jiittde lo t]ie following chariiy, for ivhich Mr L C N Bury aiml Mr F S Bury h#Ye aesed as a IIw8iee'. 5.4.25 5.4.24 Braziliail Ailaniic Rainforest Trust 120,00 15.1)lY) Doiialioiis r¢¢eived fron) Trusfees during Ihe year toialled £201.476 (2024.. £111,654). liiclLided within unlislcd tJivc8liJicnis i4 lartd at Ciebe Farin, Mun51ow.'I'he gr97.iiig nd is rezjled lo Millichope Enierpri%es and dui'iiig Ilie year ilie clial'ity rcccive(l irnlal incoiijc of £5.59212(124.. £5.-$921. Further reiii o¥ £2.090 (2024.. L5.224) was received Irojii Millicliope Ellie￿riStS iii iilaiioi) lo poieiitigLI woDdlaiid at MDnslow. Tlie ItLlStee, Mr F S Biiry. is a paili)ei' of Millicliope Enterpi'ises. 17. ULTIMATE CONTROI.LING PARTY The charity is controlled by t1￿ trustee8. 18, FINANCIAL INSTRUMENTh Tlie cai)yiii£ value of ihe charity's financial asseis and liabÉlities are sumn)aiised by category below.. 5.4.25 5.4.224 FiThanci&l assels Jt dmortiscd cusl rinan¢ial liabilities 111 xii)ot14.%ed cost FiiiiinLiAI asscls al fllii. vxliie Ihroiigl) thc Staleinent of Fiii#n¢i#l Activities 673,116 16,751 8.275,gY6 414.701 23.297 8,692,425 Pag¢21 THE MILLLCHOPE fiOUNDATION DETAILED STATEMEh'T OF FINANCIAI. ACTIVITIES FOR THF. YEAR ENDED 5 APRIL 2025 5.4.25 5.4.24 INCOME AND ENDOWfvIENI'S Doi)&ili)iis leg&c,les 201,476 6,800 110,154 1,5(Ml Oilier donAlivth 206.270 111.654 liiveslineRt Incoine BeiimbiÈdg7e Clubroon) reniul incoine 36 227,149 7Y,214 25.$ 191.R07 72.435 ITive4liiienl propeily ifi¢Otne Otlier inlejest 311,308 268,871 Total incoming i'esouiyes 519,584 380.52 EXPENDITURV. Cliarliable Activities Donalioiis 567,274 408,579 Siii)pui-I Cubts BeiiiiibFidge Cluhrooni expeiises Porttolio iii#i)agei)ieni lees PIDpeny managenieni fees 1,821 25,61IY 35,1811 33.4(X) 0,7¥9 40,605 iiii#ni'e Audit f¢es Audiiurs reinuiieiiiti(JJi lor lion audil ivork 3,000 3.(X)11 2,328 5,592 ollie B#iik cliai'ges and iiileiesl orrice )(It)lini81ralioii Depreciiiiion 21t) 111,914 124 9.683 124 10.022 11,257 Tnic21 resourcos expendcd 643 677 46.S.769 Net expeilditui-e befi)re gAlns ftiid lo&ses (124,1193} 185,2441 This p￿gr Lloe% not lonn part ot the slaliiliiry fin 10,O(K) 1,000 IU,IKM) 5()0 2.500 C&i'ried fonvar(I 241,717 Appendix I Tlie Millieliope Foiin(1g(lon Sehe(lule Df Doiia¢ioiJs For Tlie Yeai- Endtd 5111 Ai)1'112025 Broiigl)I fonvAI' 241,717 Hoin¢-Sti)Il Telford & Ivrekin Hope Hou.%e Horalio's Gttrden Isle of Jurii D¥velopn)ei)i Trust Isle of Jura Musi¢ Festival JaTnDI'4?lll Jiin Cal'e Centir Group King's Tn]st Kingswood Tiusl Little Stars Baby Bank Liipe Mii.%ic Noiv Loiigiiiynd Advei)iiire Cainp Ludlow Bran¢h RJAH Christmas Fair Mii¢ular Societ), Marie Cutie Mcdccins sans Froiili¢iis Megllii Bakei. House MHA Coii)iiiiiiiilies (Live 111 Hoille S¢hern¢) Mid Wales Operd Middle MaL'¢lie% Coiw)iunity Lai?d Tnk%t M5dlttiids Air Al￿b￿l#lice Charity National Youili Orcl)eslia N41tute's SAFE OxfaiTri GB Peiitabus Tlieaire Reaci Re-cycl¢ Revilalise Royal Hoiliciiliiiral Society Royal Nali(>nal College for ihe Bliiid Sainarithns- Shreivsbiiry Brfjjicl) Sei'eFn HuspiLe Slirew5bury Cliri5tian Cei)ti'e SliiEwsbury Food Hub Sl)IEwsbuI'y Hoii)es for All Sl)iopsliii'¢ Buuklesl Sl)I'opshire Hills AONB Trust Sliiop%hire Hi%tori¢ Cl)iir¢he8 Tru%t ShiDpsliire ME Group Shix)pshire Rural SuppoTt ShiY)pshire Wildlife Tn]5t St C<1tl)ei-ine's Chui'ch - Tugford 5,000 2.500 5.OOD 500 500 250 1,51X) 3,51)0 1,500 1.000 2,500 2,000 2,500 10,000 2,0(Xl 2,51K) 2,500 1.000 3,000 2,000 2,500 5.000 4.WO 2,500 3,WO 5,(KJO 5.000 1,500 3,000 lorwurd 350,967 Appendix I Tlie Millichope Foiind#tloii Schedule of Doiiatioiis For Tlie YeRr Ei Rlled 5tli April 21125 Broub)hi forward 350,967 Si Solitt Aiiibiiliiiire Si Michael'% Cliuicli - Munslow Si Peter'% Ludloiv Mis.%ion Sireltons Miiyt'air Trusr Sui'lLib Ag&ins1 Seiv47ge SYA 2.500 2,500 Telford Clirislial) Council The Hive TOMO Triiilblazeri MeiiloriJ)g Lrd I'uille Dove Tni%i VillÉ1g¢ Walei. Ivild Shois Outreach IVoi'kiTr8 To¥cihei' (Luillow) Lid 2,INXI Muvemeiii in provi%ioii {nole 14) 187.807 567 274 Appendlx I The Mlllicliope liouiidalion ,Scliedule of Lisled liivestmvnts Foi. The Yeai. 5¢11 Api'il 2025 MHrkct VHlue Cost UK . I.ISTED Equllles 20,1100 48,000 80000 270,0(XTr 75.000 220,0(K) 200.000 150.000 0.000 5,100 40,000 AlliAncc Tn]si PIC Avivd Bingo PIC 216.400 252.192 51,21K> 966,JO3 319,125 277,200 445,000 276,525 146,400 216,189 136,000 183,122 247.053 150.611 761,667 308,250 249,967 505.607 309,573 161,600 207.708 148,489 City of ix)ndoii liivesimtnl Trust Pl¢ JP Moigaii Gbl Enwrg Mkls Ine Legic l & Geiienl Group PIC M&G PI Railiboiies Gioiip PIC Rio Tinio Pl¢ Tcsco TOTAL UK LISTED 3,302,534 3,233,647 NON-UK I.ISTED Oyersems Eqititics 24.000 5578,416 500,000 .360 6.000 1.500 4.483.615 1,500 3,000 4.000 AIA Gr015p ChaaThi Cjold Holdings Ltd CQS N¢N, City Higli Yield Fund Ltd J K Fiiiid* Ple P£l11 Inslilulioaial A¢c Noi'artis AG CHFO.50 Novo-Nordisk Pemberton lJiiiestikn¢nls Roclie Holdings AG TAiW4?n Scmicoiidiictoi.% Man Ltd 142.302 7.810 257.000 305.¥10 498.357 73,762 367.712 354,422 340,353 1.33,019 98.472 349.619 272.560 193.945 190,392 157,346 168,456 346.450 192,218 128.573 Veri£oii Con)Ins [11¢ TOTAI. NON-UK LISTEtD 2.480,547 2,098.031 TOTAL LISTED INVEI STMENTS 5.783,081 5.331,078 AppendSx 2 Tlie Mlllirliiii)e Founduliuii Invvstineiil Acquisitions and Disposals Foi. The Yeai. Elided 5t1) April 2025 Ac ulsltlons Cnst Aviva 247,053 176,820 148.888 4,308 116.679 157.346 24,656 121,863 148,48C) C£2rveii(IE) Cilpilic I PIC Ce￿8 Power Holdinu Cliaar%i Gold Holdings Lid Nividia Corp N()vi)-Nordisk Peinberltjn InveslRieiils RoLI)e Hol(liiibys AG 1,166,102 Di$ P*'Ini'kel V#liie 6fli Aprll 2025 or a¢qiilsitioM Dlsposal Proceeds Cn11￿(LO￿$) Lloydb Gr()tip Pl Ciirvelio11 C¢lPltal JK Fitittl% PIL 266.61MI 11,682 241,940 101.250 12C),4112 147.-3(K) 14¥.1188 136.678 48.054 336,613 70,013 (10.1411 8,34U 2,7(MJ {12.1.521 (13,2L)11 {120,4641 4.616 108,808 250,280 103.950 114,250 M&G PLC L£gal & GeiierLiI group Itl)P£iLI He£ililicitre REIT PLC Ceres P(Jiver Holdiiigs Nvidi& Corp Tai%v.'Iii Sen)ic