OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-05-31-accounts

Charity No. 326271

MILLS & REEVE CHARITABLE TRUST

Annual Report and Financial

Statements

For the year ended 31 May 2024

| |

MILLS & REEVE CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 May 2024

CONTENTS

Page

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Officers|and|professional|advisers|1| |Trustees’|report|2| |Statement of|trustees’|responsibilities|5| |Independent|examiner’s|report|6| |Statement|of financial|activities|7| |Balance|sheet|8| |Notes|to|the|financial|statements|9|

----- End of picture text -----

|

MILLS & REEVE CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 May 2024

OFFICERS AND PROFESSIONAL ADVISERS

TRUSTEES AJBull G D Gibson NC Howes C A Levontine TDA Pickthorn JJ P Ripman RM Santy SE Seed S Thompson N J Frankland NS Ward

, | | 1 | | | | | :

i

BANKERS

HSBC 63-64 St Andrews Street Cambridge CB2 3BZ

SOLICITORS

Mills & Reeve LLP 1 St James Court Whitefriars Norwich NR3 1RU

"

INDEPENDENT EXAMINER

Michelle Hopton Deloitte LLP 3 Rivergate Temple Quay Bristol BS1 6GD United Kingdom

CHARITY NUMBER

326271

1

| | { | i

MILLS & REEVE CHARITABLE TRUST

| | | | | | | | | | | |

TRUSTEES’ REPORT Year ended 31 May 2024

The Trustees present their annual report along with the financial statements ofthe Charity for the year ended 31 May 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s settlement deed, the Charities Act 2011, FRS 102 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2019,

NAME AND REGISTERED OFFICE OFTHE CHARITY

The full name of the Charity is Mills & Reeve Charitable Trust and its principal operating address is 1 St James Court, Whitefriars, Norwich, NR3 1RU.

GOVERNING DOCUMENT

----- Start of picture text -----
|||||| |---|---|---|---|---| |The|Charity|is a charitable trust and the governing document|is|the Trust Deed.| |Date of Settlement:|December17 December1989 1982 and supplemental deeds dated|26 February 1988|and 29| |AJ Bull| |G D Gibson| |N C Howes| |C A Levontine| |T|DA|Pickthorn| |JJ P Ripman| |SE Seed| |S Thompson| |RM|Santy| |N J Frankland| |Capital|NS Ward| |settled:|£500 was settled by the partners ofMills & Reeve by the deed dated| |Main|17|December 1982.| |provisions;|The trustees have power to apply income at their discretion for the benefit of| |Registered|any charitable body, or for any charitable purpose.| |with Charities Commission:|Registration number 326271|

----- End of picture text -----

ORGANISATIONAL STRUCTURE AND RELATED PARTIES

The Charity has a close relationship with Mills & Reeve LLP as the members provide a substantial proportion of the Charity’s income. Each Trustee is a member or former member of Mills & Reeve LLP. ‘The Trustees have power to Charity.apply income and capital (other than restricted funds) at their discretion in accordance with the objectives of the APPOINTMENT OF TRUSTEES Power to appointnew or additional trustees rests with the current trustees.

TRUSTEE INDUCTION AND TRAINING

On appointment, trustees receive information about the Charity’s recent activities and the general objectives of the Charity. They are encouraged to attend appropriate external training ifthey consider it will facilitate the undertaking of the role. The trustees receive copies of Charity Commission bulletins,

| |

| | |

MILLS & REEVE CHARITABLE TRUST

TRUSTEES’ REPORT Year ended 31 May 2024 MAJOR RISKS

The Trustees have introduced a formal risk management process to assess the business risks and the implementation ofrisk management strategies. This involved identifying the types ofrisk the Charity faces and identifying means of mitigation of the risks. The key potential risks include the value of the portfolio falling and a claim against the covenant provided to the LLP being made, although the chance ofsuch a claim being made is regarded as small. Risk mitigation includes a long-term view to investment strategy and regular monitoring ofthe portfolio’s performance and any claims being made against the covenant. As part of this process the Trustees have reviewed the adequacy ofthe Charity’s current internal controls. The Trustees are pleased to report that the Charity’s internal financial controls comply in all relevant areas with the guidelines issued by the Charity Commission.

OBJECTIVES, PRINCIPAL ACTIVITIES AND FUTURE PLANS

The primary objective and principal activity ofthe Charity is the distribution ofincome forthe benefit ofany charitable body, or for any charitable purpose.

During the year major donations were made to The Hygiene Bank, British Red Cross, Norwich Central Foodbank, Let’s Feed Brum, Manchester Central Foodbank, Whitechapel Mission and Into University. Other significant gifts were made to medical research bodies, charities for the homeless and those supporting disadvantaged people of all ages. In terms of expenditure from local "pots” the trustees’ preference is to support good causes which are local to the firm's offices.

There are no plans to change the trustees’ overall approach to the distribution offunds.

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

Donations are largely received at the beginning of the year. The amount of income is known before any donations are made,

Net gain before other gains or losses for the year ended 31 May 2024 was £45,770 (2023: Net loss £2,292), The amounts on net gain/(loss) on the investments for the year ended May 2024 was gain £20,857 (2023: Net loss £5,906).

Net movement of funds for the year was gain £66,627 (2023: deficit £8,198).

The net assets as at 31 May 2024 were £331,974 (2023: £265,347).

During the year the Charity held investments in bonds, fixed interest investments, UK and global equities, Investments at 31 May 2024 were £262,665 (2023: £241,389).

The funds were allocated centrally and across the Mills & Reeve LLP offices and the trustees agreed major donations for each location. The causes that are usually supported out of the individual office pots are normally local to the firm's offices and aimed at helping disadvantaged people or funding medical research. Smaller donations were made on an ad hoc basis - again for local projects or to support staff initiatives. The trustees intend to continue with this approach for the future.

Donations to charities for the year ended 31 May 2024 were £223,800 (2023: £237,678). Further details ofthe charities donated to are included in note 4 on pages 11 to 13. The Trustees aim to make donations annually which are roughly equivalent to the donations received by them.

RESERVES

The Trustees have reviewed the reserves ofthe Charity. The review encompasses the nature ofincome and expenditure streams and the nature of reserves. There is no specific reserves target. At 31 May 2024 unrestricted reserves stood at £119,167 (2023: £53,081) and are considered to be at an acceptable level to meet future expenditure for at least the next 12 months given that Mills & Reeve LLP continues to bear the governance costs associated with the Charity. At 31 May 2024 restricted funds were £212,307 (2023: £211,766). These are untraceable client balances of Mills & Reeve LLP donated to Charity where ifover £500 they gained permission from the SRA to donate dormant untraceable client balances.

3

]

| i

|

| ; i ' | ;

! | '

|

|

| i

'

MILLS & REEVE CHARITABLE TRUST

TRUSTEES’ REPORT Year ended 31 May 2024

GOING CONCERN

The value ofthe Charity’s investments now exceeds the pre-pandemic values albeit that further cash has been invested in the intervening period. The Charity has no immediate requirement to use these investments. ‘The Charity has no overheads and the small governance costs are met by Mills & Reeve LLP (“the LLP”). The charitable objects are met through the making of donations which are agreed on an annual basis, are intended to match the income, and there are no on-going legal commitments to donations. The Charity has net assets of £331,974 (2023: £265,347), which is comprised mainly of amounts on bank deposit and investments. After making adequate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for at least the next 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concem basis in preparing the financial statements.

ACTIVITIES FOR THE PUBLIC BENEFIT

The trustees believe that the ethos ofworking towards the public benefit is borne out in their preference for supporting charities which help disadvantaged people. Contributions to medical research will also come under this heading, Local communities benefit from the trustees’ preference for using the monies allocated to each office for helping charities which operate in the vicinity of the firm's offices. The Trustees confirm that they refer to the guidance contained in the Charity Commission’s general guidance on public benefit.

Approved by the Board of Trustees

----- Start of picture text -----
and digned on behalfofthe Board.
Trustee
Date: /2 Norenh. 2 2)
----- End of picture text -----

JJ P Ripman 12‘" November 2024

I

|

MILLS & REEVE CHARITABLE TRUST

| | | | . . ;

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Year ended 31 May 2024

‘The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs ofthe Charity and of the incoming resources and application ofresources ofthe Charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position ofthe Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and. detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website, Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

5

' ! | | t . " | ; 1 | | ! | i \ t | | | | . : | |

i |

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MILLS & REEVE CHARITABLE TRUST

I report to the trustees on my examination of the accounts ofMills & Reeve Charitable Trust (‘the Trust”) for the year ended 31 May 2024 which comprise the statement of financial activities, the balance sheet and the related notes 1 to 12, This report is made solely to the Charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 ofthat Act. My work has been undertaken so that I might state to the Charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for my work, for this report, or for the opinions J have formed.

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 2011 Act”), You are satisfied that your Charity is not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect ofmy examination of your Charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 ofCharteredthe 2011CertifiedAct, I confirm Accountants, thatI amwhich qualifiedis one toof undertakethe listed the bodies. examination because I am a memberofthe Institute of

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 materialrespect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part ofan independent examination.

I have no concems 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.

----- Start of picture text -----
.
----- End of picture text -----

Michelle Hopton FCCA For and on behalf of Deloitte LLP Bristol,[UK.]

Date: 21** November 2024

6

|

MILLS & REEVE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 May 2024 ended 31 May 2024 31 May 2024 May 2024 2024

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Year ended 31 May 2024 ended 31 May 2024 31 May 2024 May 2024 2024||| |Unrestricted|Total|Total||| |Note|Unrestricted|Restricted|Capital|funds|funds||| |funds|funds|funds|2024|2023||| |£| |INCOME FROM:||| |Investment|income:| |Deposit account interest (unrestricted)|5,923|-|-|5,923|1,989| |Other Interest (Investment Fund)|797|-|-|797|311| |Accrued Interest (unrestricted)|623|-|-|623|369| |Accrued interest (Investment Fund)|247|-|-|247|-| |Donations|3|257,641|4,662|-|262,303|227,763| |Dividends|4,910|-|-|4,910|6,144| |Other income|600|-|-|600|453| |Gift in kind|9|4,960|-|-|4,960|4,700| |TOTAL INCOME|275,701|4,662|-|280,363|241,729| |EXPENDITURE|ON:| |Investment manager costs|1,535|“|-|1,535|1,565| |Charitable|activities:| |Donations|4|223,800|-|-|223,800|237,678| |Accrued restricted funds returned|-|4,121|-|4,121|-| |Bank Charges|177|-|-|177|138| |Governance|costs|9|4,960|-|-|4,960|4,700| |TOTAL EXPENDITURE|230,472|4,121|-|234,593|244,021| |NET INCOME/(EXPENDITURE)|45,229|541|-|45,710|(2,292)| |OTHER GAINS/((LOSSES)| |Net gain/(loss)|on investments|20,857|-|-|20,857|(5,906)| |TOTAL OTHER GAINS/(LOSSES)|20,857|-|-|20,857|(5,906)| |NET MOVEMENT IN|FUNDS|66,086|541|-|66,627|(8,198)| |BALANCE BROUGHT FORWARD|53,081|211,766|500|265,347|273,545| |BALANCE CARRIED FORWARD|119,167|212,307|500|331,974|265,347|

----- End of picture text -----

There are no recognised gains or losses of comprehensive income or expenses other than as shown above in the statement of financial activities.

All income and expenditure derive from continuing activities.

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

7

t

MILLS & REEVE CHARITABLE TRUST

.

i

| |

i]

BALANCESHEETASAT
31May2024
: Note 2024
£		 2023
£
ASSETS
FIXEDASSETS
Investments 5 262,665 241,389
CURRENTASSETS
Bank
Debtors		 6 $3,692
1,623		 28,635
369		 |
$5,315 29,004
CURRENT LIABILITIES
Creditors 7 (16,006)
ee		 CS (5,046)
NETCURRENTASSETS 69,309 23,958
NETASSETSBEINGTOTALASSETSLESS
CURRENTLIABILITITES
REPRESENTED BY		 331,974 265,347
I
Capitalfundsunrestricted
Unrestrictedfunds
Restrictedfunds		 10
10
10		 500
119,167
212,307		 500
53,081
211,766		 '
331,974 265,347

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

These financial statements (Registered Charity 326271) were approved by the trustees on 12" November 2024 and signed on their behalf

Trustee JJ P Ripman Date: 12° November 2024

8

| | | | | | | t

MILLS & REEVE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

  1. ACCOUNTING POLICIES

Charity and charitable status

Mills & Reeve Charitable Trust, a public benefit entity, is a registered Charity. The principal operating address is given on page 2.

Basis of accounting

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102), effective 1 January 2019 and the Charities Act 2011.

The Charity has taken advantage of the exemption available under the Charities SORP, as a small charity and has not produced a Cash Flow Statement. The principal accounting policies, which have been applied consistently throughout the current financial year are set out below.

Going concern

‘The value ofthe Charity’s investments now exceeds the pre-pandemic values albeit that further cash has been invested in the intervening period. The Charity has no immediate requirement to use these investments. The Charity has no overheads and the small governance costs are met by Mills & Reeve LLP (“the LLP”). The charitable objects are met through the making of donations which are agreed on an annual basis, are intended to match the income, and there are no on-going legal commitments to donations. The Charity has net assets of £331,974 (2023: £265,347), which is comprised mainly of amounts on bank deposit and investments. After making adequate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for at least the next 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

The charitable activities of the Charity are exempt from corporation tax.

Income and expenditure

Income and expenditure is accounted for on an accruals basis. All income is recognised in the statement of financial activities when the Charity has entitlement to the funds, any performance conditions have been met, it is probable it will be received and the amount can be measured reliably. Investment income is recognised when receivable. Donations income is recognised when receivable.

Donated services

Donated staff and facilities costs from Mills & Reeve LLP are not recognised as they cannot be reliably measured.

Investments

Investments are stated at market value at the balance sheet date. Investments are classified as financial assets at “fair value through profit and loss”. Realised and unrealised gains on investments are tecognised in the statement of financial activities.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

,

Trade and other debtors are recognised at the settlement amount due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

9

MILLS & REEVE CHARITABLE TRUST

) , i | ! | : i | ; | | | | | | i | | | | ; | | | | | | ,

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

1. ACCOUNTING POLICIES (continued) Gift in kind

The independent examiner’s remuneration for the year was £4,960 (2023 - £4,700) and was borne by Mills & Reeve LLP and js shown as income and as a governance cost.

Fund accounting Capital fund

This has been designated by the trustees as a fixed fund of the trust. This fund is unrestricted.

General unrestrictedfunds

General unrestricted funds represent income which is expendable at the discretion of the trustees in the furtherance ofthe objects ofthe Charity. Such funds may be held in order to finance both working capital and capital investment.

Restrictedfunds The restricted funds carried forward represent funds relating to the M&R Challenge, donations under covenant SRA AR nule 5,1(c) and donations under covenant SRA AR rule 5.1(c).

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application ofthe Charity’s accounting policies, which are described in note 1, the Trustees are required to makejudgements, estimates and assumptions about the carrying amounts ofassets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised ifthe revision affects only that period, or in the period ofthe revision and future periods ifthe revision affects both current and future periods. The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

  1. DONATIONS

----- Start of picture text -----
2024 2023
Donations £ £
Sponsorship 194,799 178,797
Tax money 7,637 9,678
reclaimed on amounts donated 55,205 37,119
Restricted donations under Solicitors Regulation Authority (SRA) 4,662 2,169
262,303 227,763
Donations ofunrestricted and restricted income was comprised as follows:
Unrestricted Total Total
£ Restricted£ 2024£ Unrestricted£ Restricted£ 2023£
Donations 257,641 4,662 262,303 225,594 2,169 227,763
----- End of picture text -----

I

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

----- Start of picture text -----
|||||| |---|---|---|---|---| |4,|ANALYSIS OF CHARITABLE ACTIVITIES| |2024|2023| |£|£| |Hygiene Bank (The)|23,500|-| |British Red Cross|22,500|.| |Norwich|Central Foodbank|9,500|5,000| |Let’s Feed Brum|8,250|6,800| |Manchester Central Foodbank|8,000|5,000| |Whitechapel|Mission|7,612|6,400| |IntoUniversity|7,600|7,500| |Felix Project (The)|‘|6,863|-| |It Takes a City (Cambridge)|6,000|-| |Cancer Research UK|5,650|350| |Leeds North and West Foodbank|5,500|2,500| |Leeds|South|and East Foodbank|5,500|2,500| |Oxfordshire Community Foundation|5,000|4,800| |Priscilla Bacon Norfolk Hospice|Care Limited Donations|5,000|“| |Solicitors Pro Bono Group T/A Law Works|5,000|-| |Leeds|Children|Charity|4,700|760| |N & N Hospitals Charity|3,000|-| |Oxford Hub (The)|3,000|-| |Westminster City School (The)|3,000|3,000| |Cambridge Foodbank|4,000|3,000| |Ely Foodbank|4,000|2,000| |Alkaptonuria|Society Ltd (The)|2,750|-| |Little|Bundles|2,000|1,500| |Norwich Homeless Support CIC|2,000|-| |Phoenix Trust|2,000|-| |Rowan Humberstone|Trust Ltd|2,000|-| |Support Through|Court|2,000|2,000| |Ashiana Community Project Registered Charity|(The)|1,500|-| |Climbing Out|1,500|-| |Criminon UK|1,500|-| |Funkykids|1,500|-| |Ikon|Gallery|1,500|-| |Parenting Mental Health|1,500|-| |Pregnancy Expectations Trauma and Loss Society T/A PETALS|1,500|-| |Second Star|1,500|-| |Solicitors Benevolent Association|1,500|1,500| |Sudden Productions|1,500|-| |Wood Street Mission|1,100|-| |Age Concern Norwich T/A Age UK Norwich|1,000|-| |Black Health Initiative|1,000|-| |Cambridge Women’s Resource Centre|1,000|-| |Centre|Thirty-Three Young People’s|Counselling and Information Service|1,000|-| |Children’s Heart Surgery|1,000|-| |Frozen Light Theatre|1,000|-| |Hebron Trust|1,000|-| |Home-Start Royston and South Cambridgeshire|1,000|-| |Huddersfield Town Foundation|Ltd|1,000|-| |Lennox Children’s|Cancer Fund|1,000|-| |Manchester University NHS Foundation Trust Charity|1,000|-| |Norfolk Community Arts Limited|1,000|-| |Ren Hen Project (The)|1,000|1,500| |Carried forward|195,025|56,110|

----- End of picture text -----

| ‘ 1 i i

11

I |

MILLS & REEVE CHARITABLE TRUST

| |

; | | , l 1 | | i

NOTES TO THE FINANCIAL STATEMENTS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Year ended|31 May 2024| |4.|ANALYSIS OF CHARITABLE|ACTIVITIES (continued)| |2024|2023| |£|£| |Brought forward|195,025|56,110| |Romsey|Mill Trust Ltd|1,000|6,000| |SIFA Fireside|1,000|-| |Wellspring|Family Centre|1,000|-| |Ukraine Appeal (DEC)|-|14,789| |Arthur Rank Hospice|-|11,500| |Earthquake Appeal (DEC)|-|10,000| |Pakistan Floods Appeal (DEC)|-|10,600| |Young Minds|-|9,589| |Mitchell’s Miracles|-|8,750| |42nd|Street|-|8,350| |Cancer Research|—|Regional|-|5,050| |Chain of|Hope|-|5,000| |HRW Charitable Trast GBP|-|5,000| |Loss Foundation|(The)|-|5,000| |Kick|it Out|-|5,000| |Oxford Food Bank (The)|-|5,000| |Cambridge Science Centre|-|4,000| |George Dixon Academy|-|4,000| |Leeds Mind|-|2,890| |Breast Cancer Now|-|2,500| |Pets as Therapy|-|2,500| |Rosemere Cancer Foundation|-|2,500| |Cambridge Cancer Help|-|1,500| |Diabetes Norfolk|-|1,500| |Eating Matters|-|1,500| |ENYP|-|1,500| |EP Youth|-|1,500| |Leeds|Cares|-|1,500| |Magdalene|Group (The)|-|1,500|i| |Norfolk Community Law Service|-|1,500| |North Norfolk Community Transport|-|1,500|'| |Norwich Puppet Theatre Trust Ltd|-|1,500||| |St Neots Foodbank|-|1,500||| |Special Needs Enterprises Norfolk Ltd|-|1,500| |You Are Not Alone|-|1,500| |Toynbee Hali|-|1,200| |World Vision|-|1,050| |Armonico Consort|-|1,044| |County Air Ambulance Trust t/a Help Appeal|-|1,044||| |Dream Holidays|-|1,044||| |George|Collier Memorial Fund (The)|-|1,044| |Narthex Sparkhill!|-|1,044| |Smart Works Birmingham|-|1,044| |Sudden Promotions|-|1,044| |Tiny Tims Children Centre|-|1,044| |Access to Justice Foundation - Yorkshire|-|1,000| |Candlelighters|-|1,000| |Community Foundation for Leeds|-|1,000| |Freedom4 Girls|-|1,000| |LoveBrumSt Basil’s|0121 Collective|--|1,0001,000||| |St Nicholas Hospice|(Suffolk)|-|1,000| |Carried forward|198,025|220,630|1|

----- End of picture text -----

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 May 2024

  1. ANALYSIS OF CHARITABLE ACTIVITIES (continued)
2024 2023
£ £
Brought forward
Wetherby in SupportoftheElderly
Yorkshire Cancer Research		 198,025
-
-		 220,630
1,000
1,000
Various under£1,000 18,950 15,048
Pledges from y/e2023 notpaid
Pledges y/e2024		 (5,000)
11,825		 -
-
GrandTotal 223,800 237,678

All donations are made to institutions in the furtherance of the Charity’s objects set out in the Trustees’ report. There were grant commitments at 31 May 2024 of £11,825 (2023 - £5,000).

!

13

: : | | 1 | | : ; ' i | | ; i : | i l | : '

| | ' i

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

  1. INVESTMENTS
INVESTMENTS
INVESTMENTS 2024
Cost
£		 Market
value
Fs		 2023
Cost
£		 Market
value
£
Investments 248,426 262,665 238,113 241,389
Investments arecomprisedofunits inpooledfunds, fixedinterestbonds, equities andunittrusts.
2024 2023
£
£
;
Bonds
UKEquities&InvestmentTrusts
UKUnitTrusts		 66,537
-
-		 110,654
13,808
-
Equites—Unclassified
Global
HedgeFunds
Goldandothercommodities
OtherInvestments
Cash
Interest		 oS
153,590
6,812
5,533
-
29,946
247
262,665		 16,583
83,221
-
-
9,760
7,363
-
241,389		 ;
'
i
Historicalcostofinvestments
Netunrealisedgain/(loss)oninvestments
Dividends (InvestmentFund)
Interest		 248,426
9,082
4,910
247		 -236,035
(790)
6,144
-		 ;
i
At31May2024/2023 262,665
241,389
amaese		 :

Purchases of investments in the year were £207,674 (2023: £161,557) and sales of investments were £230,158 (2023: £160,313)

  1. DEBTORS
6. DEBTORS
2024 2023
£ £
Interest
Returnofdonation		 623
1,000		 369
-
1,623 369
7. CREDITORS
2024
£		 2023
£
BankCharges
Donations
Accruedrestrictedfundstobereturned		 60
11,825
4,121		 46
5,000
-
16,006 5,046

1 i

MILLS & REEVE CHARITABLE TRUST

| |

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

8. INFORMATION REGARDING EMPLOYEES AND TRUSTEES

The Charity has no employees (2023- none). Trustees are neither remunerated nor reimbursed for expenses.

  1. | GOVERNANCE COSTS

The independent examiner’s remuneration for the year was £4,960 (2023 - £4,700) and was borne by Mills & Reeve LLP. This is included as a gift in kind as income and charitable expenditure.

10. ANALYSIS OF ASSETS BETWEEN FUNDS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestric-|Restricted|Capital|Total|Total| |ted funds|funds|funds|2024|2023| |=|£|£|£|£| |Assets and|liabilities| |Bank|83,192|-|500|83,692|28,635| |Debtors|1,623|-|-|1,623|369| |Investments|50,358|212,307|-|262,665|241,389| |Creditors|(16,006)|-|-|(16,006)|(5,046)| |119,167|212,307|500|331,974|265,347| |Unrestric-|Restricted|Capital|Total|Total| |ted funds|funds|funds|2023|2022| |£|£|£|£|£| |Assets|and|liabilities| |Bank|28,135|-|500|28,635|7,537| |Debtors|369|-|-|369|26,179| |Investments|29,623|211,766|-|241,389|248,865| |Creditors|(5,046)|-|-|(5,046)|(9,036)| |53,081|211,766|500|265,347|273,545|

----- End of picture text -----

Restricted funds are untraceable client balances of Mills & Reeve LLP donated to Charity where if over £500 they gained permission from the SRA to donate dormant untraceable client balances.

----- Start of picture text -----
||||| |---|---|---|---| |2024|2023| |z|£| |Opening untraceable funds|211,766|209,597| |Donations|in the year|541|2,169| |Closing untraceable funds|212,307|211,766| |Closing restricted funds|212,307|211,766|

----- End of picture text -----

15

MILLS & REEVE CHARITABLE TRUST

. I | ' . | | l : | ; ; i | | i| i | , | |

;|

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2024

11, COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Total| |funds|Restricted|Capital|funds| |z|funds£|funds£|2023£| |INCOME FROM:| |Investment|income:| |Deposit account|interest|(unrestricted)|1,989|-|-|1,989| |Other interest - Investment fund|311|-|-|311| |Accrued interest|-|Unrestricted.|369|-|-|369| |Donations|225,594|2,169|-|227,763| |Dividends|6,144|-|-|6,144| |Other interest|453|-|-|453| |Gift in kind|eee4,700|-|-|4,700| |TOTAL INCOME|239,560|2,169|-|241,729| |EXPENDITURE|ON:| |Investment manager costs|1,505|-|-|1,505| |Charitable|activities:| |Donations| |Governance|237,678|-|-|237,678| |Bank|costs|4,700|-|-|4,700| |Charges|138|:|:|138| |TOTAL EXPENDITURE|244,021|-|-|244,021| |NET (EXPENDITURE)VINCOME|(4,461)|2,169|"|(2,292)| |OTHER|(LOSSES)| |Net (loss) on investments|(5,906)|-|-|(5,906)| |TOTAL|—$.|—-—,|—$,|—=—| |OTHER (LOSSES)|(5,906)|-|-|(5,906)| |NET|MOVEMENT IN|FUNDS|(10,367)|2,169|-|(8,198)| |BALANCE BROUGHT FORWARD|63,448|209,597|500|273,545| |BALANCE CARRIED FORWARD|53,081|211,766|500|265,347|

----- End of picture text -----

  1. RELATED PARTIES

The trustees are members or former members of Mills & Reeve LLP. Income from deed of covenants of £191,509 (2023: £177,783) is received from members of Mills & Reeve LLP.

----- Start of picture text -----
|
----- End of picture text -----

16