2025-05-31-accounts

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Charity No. 326271

MILLS & REEVE CHARITABLE TRUST

Annual Report and Financial Statements

For the year ended 31 May 2025

MILLS & REEVE CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 May 2025

Page

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|||||| |---|---|---|---|---| |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|

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Notes to the financial statements

MILLS & REEVE CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 May 2025

OFFICERS AND PROFESSIONAL ADVISERS

TRUSTEES

A J Bull LHF Collins (appointed 12 November 2024) W J L Downing (appointed 12 November 2024) N J Frankland G D Gibson B T Hardiman (appointed 12 November 2024) J Hennessey (appointed 12 November 2024) N C Howes J Ingleby (appointed 12 November 2024) A J Narkiewicz (appointed 12 November 2024) CA Levontine (resigned 12 November 2024) T DA Pickthorn J JP Ripman R M Santy SE Seed S Thompson (resigned 12 November 2024) N S Ward TMG Whitney (appointed 12 November 2024)

BANKERS

HSBC 63-64 St Andrews Street Cambridge CB2 3BZ

SOLICITORS

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

INDEPENDENT EXAMINER

Helen Perkins Deloitte LLP Abbots House Abbey street Reading RG1 3BD United Kingdom

CHARITY NUMBER 326271

MILLS & REEVE CHARITABLE TRUST

TRUSTEES’ REPORT Year ended 31 May 2025

The Trustees present their annual report along with the financial statements of the Charity for the year ended 31 May 2025. The financial statements have been prepared in accordance with the accounting policies set out in note | 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 OF THE 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

The Charity is a charitable trust and the governing document is the Trust Deed.

The Charity is a charitable trust	and the governing document is the Trust Deed.
Date ofSettlement:	17 December 1982 and supplemental deeds dated 26 February 1988 and 29
	December 1989
Current Trustees:	A J Bull
	LHF Collins
	W J L Downing
	N J Frankland
	G D Gibson
	B T Hardiman
	J Hennessey
	N C Howes
	J Ingleby
	A J Narkiewicz
	T DA Pickthorn
	J JP Ripman
	RM Santy
	S E Seed
	NS Ward
	T MG Whitney
Capital settled:	£500 was settled by the partners ofMills& Reeve by the deed dated
	17 December 1982.
Main provisions:	The trustees have power to apply income at their discretion for the benefit of
	anycharitablebody,orforanycharitablepurpose.

Registered with Charities Commission: Registration number 326271

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 apply income and capital at their discretion in accordance with the objectives of the Charity.

APPOINTMENT OF TRUSTEES

Power to appoint new 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 if they 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 2025

MAJOR RISKS

The Trustees have introduced a formal risk management process to assess the business risks and the implementation of risk management strategies. This involved identifying the types of risk 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 of such a claim being made is regarded as small. Risk mitigation includes a long-term view to investment strategy and regular monitoring of the portfolio’s performance and any claims being made against the covenant. As part of this process the Trustees have reviewed the adequacy of the 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 of the Charity is the distribution of income for the benefit ofany charitable body, or for any charitable purpose.

During the year major donations were made to DEC Middle East Appeal, DEC Earthquake Appeal, Cambridge Acorn Project, British Red Cross, Jamie’s Farm, SeeSaw and The Candlelighters Trust. 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 of funds.

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.

Donations to charities for the year ended 31 May 2025 were £320,500 (2024: £223,800). Further details of the 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.

Expenditure for the year ended 31 May 2025 was £332,732 (2024: £234,593).

Net loss before other gains or losses for the year ended 31 May 2025 was £13,315 (2024: Net gain £45,229). The amounts on net gain/(loss) on the investments for the year ended May 2025 was £14,149 (2024: Net gain £20,857).

Net movement of funds for the year was gain £5,101 (2024: Net gain £66,627).

The net assets as at 31 May 2025 were £337,075 (2024: £331,974).

During the year the Charity held investments in bonds, fixed interest investments, UK and global equities. Investments at 31 May 2025 were £276,583 (2024: £262,665).

The donations received 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.

RESERVES

The Trustees have reviewed the reserves of the Charity. The review encompasses the nature of income and expenditure streams and the nature of reserves. There is no specific reserves target. At 31 May 2025 unrestricted reserves stood at £120,002 (2023: £119,167) 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 2025 restricted funds were £216,573 (2024: £212,307). These 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.

MILLS & REEVE CHARITABLE TRUST

TRUSTEES’ REPORT Year ended 31 May 2025

GOING CONCERN

The value of the 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 £337,075 (2024: £331,974), which is comprised 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.

ACTIVITIES FOR THE PUBLIC BENEFIT

The trustees believe that the ethos of working 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 d signed on behalf ef the Board. [: h

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Trustee
Date: f Nan,Ir 2) uC
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MILLS & REEVE CHARITABLE TRUST

STATEMENT OF TRUSTEES’ RESPONSIBILITIES Year ended 31 May 2025

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 of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the trustees are required to:

@ select suitable accounting policies and then apply them consistently;
@ observe the methods and principles in the Charities SORP;
@ make judgements and estimates that are reasonable and prudent;
@ state whether applicable accounting standards have been followed (subject to any material departures disclosed and explained in the financial statements); and
@ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the 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 November 2025

MILLS & REEVE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 May 2025

				Unrestricted	Total	Total
	Note	Unrestricted	Restricted	Capital	funds	funds
		funds	funds	funds	2025	2024
		£	£	£	£	£
INCOME FROM:
Donations	3	298,834	4,266	-	303,100	262,303
Investment income:
Deposit account interest (unrestricted)		4,797	-	-	4,797	5,923
Other Interest (Investment Fund)		297	-	-	297	797
Accrued Interest (unrestricted)		395	-	-	395	623
Accrued interest (Investment Fund)		-	-	-	-	247
Dividends		4,494	-	-	4,494	4,910
Other income		600	-	-	600	600
Gift in kind	9	10,000	-	-	10,000	4,960
TOTAL INCOME		319,417	4,266	-	323,683	280,363
EXPENDITURE ON:
Investmentmanager costs		(2,022)	-	-	(2,022)	(1,535)
Charitable activities:
Donations	4	(320,500)	-	-	(320,500)	(223,800)
Accrued restricted funds returned		-	-	-	-	(4,121)
Bank Charges		(210)	-	-	(210)	(177)
Governance costs	9	(10,000)	-	-	(10,000)	(4,960)
TOTALEXPENDITURE		(332,732)	-	-	(332,732)	(234,593)
NET(EXPENDITURE)/INCOME		(13,315)	4,266	-	(9,049)	45,770
OTHER GAINS
Net gain/(loss) on investments		14,149	-	-	14,149	20,857
TOTALOTHERGAINS		14,149	-	-	14,149	20,857
NET MOVEMENT IN FUNDS		835	4,266	-	5,101	66,627
BALANCE BROUGHTFORWARD		119,167	212,307	500	331,974	265,347
BALANCECARRIEDFORWARD		120,002	216,573	500	337,075	331,974

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.

MILLS & REEVE CHARITABLE TRUST

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BALANCE SHEET AS AT

31 May 2025

		2025	2024
	Note	£	£
ASSETS
FIXED ASSETS
Investments	5	276,583	262,665
CURRENT ASSETS
Bank		62,900	83,692
Debtors	6	395	1,623
		63,295	85,315
CURRENT LIABILITIES
Creditors	7	(2,803)	(16,006)
NETCURRENTASSETS		60,492	69,309
NETASSETS BEING TOTALASSETS LESS
CURRENT LIABILITITES		337,075	331,974
REPRESENTED BY
Capital funds unrestricted	10	500	500
Unrestricted funds	10	120,002	119,167
Restricted funds	10	216,573	212,307
		337,075	331,974

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 and signed on their behalf

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Trustee
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MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

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, except for investments which are disclosed at market value.

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

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 recognised 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.

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

ACCOUNTING POLICIES (continued) Gift in kind

The independent examiner’s remuneration for the year was £10,000 (2024: £4,960) and was borne by Mills & Reeve LLP and is shown as income and as a governance cost.

Fund accounting

Capitalfund

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

General unrestricted funds

General unrestricted funds represent income which is expendable at the discretion of the trustees in the furtherance of the objects of the 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 and donations under covenant SRA AR rule 5.1(c). The income from the restricted funds is expendable at the discretion of the trustees in the furtherance of the objects of the Charity. The restricted funds are represented by the investment portfolio. In accordance with SRA AR 5.1(c), the funds will be returned to Mills & Reeve LLP under the covenant if required.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Charity’s accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets 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 if the revision affects only that period, or in the period of the revision and future periods if the 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.

DONATIONS

						2025	2024
						£	£
Donations						237,179	194,799
Sponsorship money						3,715	7,637
Tax reclaimed on amounts donated						57,940	55,205
Restricted donations under Solicitors		Regulation Authority		(SRA)		4,266	4,662
						303,100	262,303
Donations ofunrestricted and restricted			income was comprised as follows:
				Total			Total
	Unrestricted		Restricted	2025	Unrestricted	Restricted	2024
		£	£	£	£	£	£
Donations	298,834		4,266	303,100	257,641	4,662	262,303

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

ANALYSIS OFCHARITABLE ACTIVITIES
	2025	2024
	£	£
DEC Middle EastAppeal	20,000	-
DEC Earthquake Appeal	15,000	-
Cambridge Acorn Project	10,500	-
British Red Cross	10,000	22,500
Jamie's Farm	10,000	-
SeeSaw	9,000	-
The Candlelighters Trust	8,800	-
Whitechapel Mission	8,600	7,612
Francis House Family Trust	8,000	-
IntoUniversity	7,500	7,600
Homeless Oxfordshire	7,000	500
Let's Feed Brum	7,000	8,250
Manchester Central Foodbank	7,000	8,000
Norwich Central Foodbank	7,000	9,500
Wood Street Mission	7,000	1,100
Little Lifts	6,250	-
Together Project (The)	5,850	-
CALM	5,000	-
Frontline	5,000	-
The Skin Cancer Research Fund	5,000	-
OverDay Centre Association	5,000	-
DrKershaw’s Hospice	5,000	-
Elim Foursquare Gospel Alliance Birmingham Central Foodbank	4,500	-
Friend In Deed	4,500	-
Alzheimers Society	3,700	50
The Together Project	3,700	-
Cambridge Foodbank	3,500	4,000
Ely Foodbank	3,500	4,000
Leeds North and West Foodbank	3,500	5,500
Leeds South and East Foodbank	3,500	5,500
Parkinson's Disease Society oftheUK	3,100	-
British Blind Sport	3,000	-
CarersUK	3,000	-
SupportThrough Court	3,000	2,000
Westminster City School (The)	3,000	3,000
B:Music Ltd	3,000	-
ComputerAid International	3,000	-
The Respite Association	3,000	-
County AirAmbulance Trust t/a Help Appeal	3,000	-
Zoe’s Place Trust	3,000	-
Railway Children	3,000	-
Sport 4 LifeUK	3,000	-
Acorn Children’s Hospice	3,000	-
Together For Short Lives	3,000	-
Ashinaga Association in theUK	2,500
Centre Thirty Three Young People's Counselling and Information Service	2,500	1,000
Cambridge Rare Diseases Network	2,500	-
Something To Look ForwardTo	2,500	-
Danbury Mission Church	2,500	-
Stand By Me	2,500	-
Mary’s Meals	1,700	-
London Legal Support Trust	1,550	700
London's Air Ambulance Ltd	1,550	700
Arthur Rank Hospice	1,500	-
Carriedforward	273,300	91,512

MILLS & REEVE CHARITABLE TRUST

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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

4. ANALYSIS OF CHARITABLE ACTIVITIES (continued)

		2025	2024
		£	£
Brought forward		273,300	91,512
Elim Foursquare Gospel Birmingham Central	Foodbank	1,500	-
Leukaemia Care		1,500	-
Solicitors BenevolentAssn		1,500	1,500
Hebron Trust		1,500	1,000
Shine (EastNorfolk)		1,500	-
Dereham Cancer Care		1,500	-
Mortal And Strong		1,250	-
Priscilla BaconNorfolk Hospice Care Limited StarThrowers	Donartions	1,250 1,250	5,000 -
Leeds Hospitals Charity		1,250	-
Little Bundles		1,043	-
Aylsham & District Care Trust		1,000	-
BUILD Charity Limited Diwali Foundation (The)		1,000 1,000	- 500
Finnbar's Force		1,000	-
Happy Days Childrens Charity		1,000	-
Human Values Foundation		1,000	-
Leeway Domestic ViolenceAnd Abuse Services		1,000	-
Nelson's Journey		1,000	-
Norfolk andNorwich Hospitals Charity		1,000	-
SAPERE		1,000	-
The Nick Kilhams Foundation		1,000	-
Time Norfolk		1,000	-
TheArchway Foundation		1,000	-
Tom’s Trust		1,000	-
Acorn Children’s Hospice		1,000	-
Hygiene Bank (The)		-	23,500
The Felix Project		950	6,863
ItTakes a City (Cambridge)		-	6,000
Cancer Research UK		500	5,650
OxfordshireCommunity Foundation		-	5,000
Solicitors Pro Bono Group T/A Law Works		-	5,000
Leeds Children Charity		-	4,700
N&N Hospitals Charity		-	3,000
Oxford Hub (The)		-	3,000
Alkaptonuria Society Ltd (The)		-	2,750
Little Bundles		-	2,000
Norwich Homeless Support CIC		-	2,000
Phoenix Trust		-	2,000
Rowan Humberstone Trust Ltd		-	2,000
AshianaCommunity Project Registered Charity (The)		-	1,500
Climbing Out		-	1,500
CriminonUK		-	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
Sudden Productions		-	1,500
AgeConcern Norwich T/A AgeUKNorwich		-	1,000
Black Health Initiative		-	1,000
Cambridge Women's Resource Centre Carriedforward		- 304,793	1,000 189,475

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MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

4. ANALYSIS OF CHARITABLE ACTIVITIES (continued)

ANALYSIS OF CHARITABLECHARITABLE ACTIVITIES (continued)
	2025	2024
	£	£
Brought forward	304,793	189,475
Children's Heart Surgery	-	1,000
Frozen Light Theatre	~	1,000
Headway Cambridgeshire	-	1,000
Home-Start Royston and South Cambridgeshire	-	1,000
Huddersfield Town Foundation Ltd	-	1,000
Lennox Children's CancerFund	-	1,000
Manchester UniversityNHS Foundation Trust Charity	-	1,000
Norfolk Community Arts Limited	-	1,000
RedHen Project (The)	-	1,000
Romsey Mill Trust Limited	-	1,000
SIFA Fireside	-	1,000
Various under£1,000	12,957	16,500
Pledges from y/e 2023 notpaid	-	(5,000)
Pledges	2,750	11,825
GrandTotal	320,500	223,800

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 2025 of£2,750 (2024: £11,825).

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

5 INVESTMENTS

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Market|Market| |Cost|value|Cost|value| |£|£|£|£| |Investments|256,076|276,583|248,426|262,665| |Investments|are|comprised|of units units|in|pooled|funds,|fixed|interest|bonds,|equities|and|unit|trusts.| |2025|2024| |£|£| |Bonds|66,798|66,537| |Equites — Global|188,996|153,590| |Hedge|Funds|9,418|6,812| |Gold and|other|commodities|5,047|5,533| |Cash|6,324|29,946| |Interest|-|247| |276,583|262,665| |Historical|cost|of investments|256,076|248,426| |Net unrealised gain|on|investments|16,013|9,082| |Dividends|(Investment|Fund)|4,494|4,910| |Interest|-|247| |At|31|May|2025/2024|276,583|262,665|

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Investments are comprised of units units in pooled funds, fixed interest bonds, equities and unit trusts.

Purchases of investments in the year were £86,843 (2024: £207,674) and sales of investments were £62,864 (2024: £230,158)

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||||| |---|---|---|---| |6.|DEBTORS| |2025|2024| |£|£| |Bank|interest|395|623| |Return|of donation|-|1,000| |395|1,623|

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CREDITORS

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||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Bank|Charges|53|60| |Donation|pledges|2,750|11,825| |Donations|to|be|returned|-|4,121| |2,803|16,006|

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MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

INFORMATION REGARDING EMPLOYEES AND TRUSTEES

The Charity has no employees (2024 - none). Trustees are neither remunerated nor reimbursed for expenses.

GOVERNANCE COSTS

The independent examiner’s remuneration for the year was £10,000 (2024: £4,960) and was borne by Mills & Reeve LLP. This is included as a gift in kind as income and a governance cost.

ANALYSIS OF ASSETS BETWEEN FUNDS

	Unrestricted	Restricted	Capital	Total	Total
	funds	funds	funds	2025	2024
	£	£	£	£	£
Assets and liabilities
Bank	62,400	-	500	62,900	83,692
Debtors	395	-	-	395	1,623
Investments	60,010	216,573	-	276,583	262,665
Creditors	(2,803)	-	-	(2,803)	(16,006)
	120,002	216,573	500	337,075	331,974
	Unrestricted	Restricted	Capital	Total	Total
	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

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.

they gained permission from the SRA to donate dormant	untraceable client balances.
	2025	2024
	£	£
Opening untraceable funds	212,307	211,766
Donations in the year	4,266	54]
Closing untraceable funds	216,573	212,307
Closingrestrictedfunds	216,573	212,307

MILLS & REEVE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

11. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

				Total
	Unrestricted	Restricted	Capital	funds
	funds	funds	funds	2024
	£	£	£	£
INCOME FROM:
Investment income:
Deposit account interest (unrestricted)	5,923	-	-	5,923
Other interest - Investment fund	797	-	-	797
Accrued interest - Unrestricted	623	-	-	623
Donations	247	-	-	247
Dividends	257,641	4,662	-	262,303
Other interest	4,910	-	-	4,910
Gift in kind	600	-	-	600
TOTALINCOME	275,701	4,662	-	280,363
EXPENDITURE ON:
Investment manager costs	(1,535)	-	-	(1,535)
Charitable activities:
Donations	(223,800)	-	-	(223,800)
Governance costs	-	(4,121)	-	(4,121)
Bank Charges	(177)	-	-	(177)
TOTAL EXPENDITURE	(230,472)	(4,121)	-	(234,593)
NET INCOME	45,229	541	-	45,770
OTHER
Net gain on investments	20,857	-	-	20,857
TOTALOTHER	20,857	-	-	20,857
NET MOVEMENT IN FUNDS	66,086	54]	-	66,627
BALANCE BROUGHT FORWARD	53,081	211,766	500	265,347
BALANCECARRIEDFORWARD	119,167	212,307	500	331,974

RELATED PARTIES

The trustees are members or former members of Mills & Reeve LLP. Income of £232,079 (2024: £191,509) is received from members of Mills & Reeve LLP. A gift in kind of £10,000 (2024: £4,960) was received from Mills & Reeve LLP.

CONTENTS

OFFICERS AND PROFESSIONAL ADVISERS

TRUSTEES

BANKERS

SOLICITORS

INDEPENDENT EXAMINER

TRUSTEES’ REPORT Year ended 31 May 2025

NAME AND REGISTERED OFFICE OF THE CHARITY

GOVERNING DOCUMENT

ORGANISATIONAL STRUCTURE AND RELATED PARTIES

APPOINTMENT OF TRUSTEES

TRUSTEE INDUCTION AND TRAINING

TRUSTEES’ REPORT Year ended 31 May 2025

MAJOR RISKS

OBJECTIVES, PRINCIPAL ACTIVITIES AND FUTURE PLANS

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

RESERVES

TRUSTEES’ REPORT Year ended 31 May 2025

GOING CONCERN

ACTIVITIES FOR THE PUBLIC BENEFIT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES Year ended 31 May 2025

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 May 2025

BALANCE SHEET AS AT

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

Basis of accounting

Going concern

Taxation

Income and expenditure

Donated services

Investments

Financial instruments

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

Capitalfund

General unrestricted funds

Restrictedfunds

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

4. ANALYSIS OF CHARITABLE ACTIVITIES (continued)

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

4. ANALYSIS OF CHARITABLE ACTIVITIES (continued)

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 May 2025

5 INVESTMENTS

11. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES