2025-04-05-accounts - Andie Millar's Trust

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Andie Millar's Trust Scottish Charity Number: SC037334 (MILLO27)

Receipts and Payments Account

Year Ended 5th April 2025

J. & H. Mitchell, W.S. 51 Atholl Road, Pitlochry PH16 5BU

Andie Millar's Trust Scottish Charity Number: SC037334

Trustees Report for Period to 5th April 2025

~ a Document: Deed of Trust registered in the Books of Council and Session at Edinburgh on 28th March 2006.

New Trustees: Appointed by the special decision of not less than three-quarters of all of the Trustees. None has been appointed in the period.

Trust Purposes: To apply the income of the Trust to or for any one or more of the following in Pitlochry and District as the Trustees in their absolute discretion from time to time decide, namely:

the advancement of education;
the advancement of citizenship or community development;
the advancement of the arts, heritage, culture or science;
the advancement of public participation in sport;
the provision of recreational facilities with the object of improving the conditions of life for the persons for whom the facilities are primarily intended;
the advancement of environmental protection or improvement; and
- the relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage.

Financial Review: The funds held in unrestricted reserves amount to £14,733 which the Trustees believe is sufficient to meet any unexpected liabilites which could arise as well as normal running expenses.

Summary:

In 2024, the Trustees held their eleventh annual competition for donations, applications for which had to be submitted by 31st May 2024. Eighteen applications were considered by the Trustees, whose decision was to make the following awards:

a £500 for coached kayaking trip to France.

2) Pitlochry Path Group - £900 for new path at Lady's Dell, Pitlochry.

3) Moulin Hall Trust - £1,500 for renewal of hall window & stage curtains.

4) Pitlochry Cummunity First Responders - £2,000 for set up support to the Scottish Ambulance Service.
5) Killiecrankie Memorial Hall Trust - £1,500 for replacement notice board & display boards.

Andie Millar's Trust

Scottish Charity Number: $C037334

Trustees Report for Period to 5th April 2025 (continued)

Summary (continued):

6) Holy Trinity Episcopal Church Pitlochry - £2,000 for installation of paved level access path.
7) 1st Perthshire Pitlochry Scout Group - £2,000 for scout hall improvement project.
8) Pitlochry High School - £2,000 for activity to support young people to learn a variety of musical instruments.

Being an annual competition, the result of all applications submitted by 31st May 2025 are awaited.

Approved by the Trustees and signed on their behalf:

a [to Zoly Date

Andie Millar's Trust Receipts and Payments Account Year Ended 5th April 2025

	Note	2024	2025
		£	£
Receipts
Capital Realised	1	109,682.62	158,547.67
Dividends	2	7,473.87	6,789.86
Interest	3	3,569.05	3,391.15
		120,725.54	168,728.68
Payments
Capital Invested	4	108,271.76	149,720.38
Grants & Donations	5	10,000.00	12,400.00
Administration Expenses	6	6,505.71	6,857.44
Trustees' Remuneration & Expenses	7	0.00	0.00
		124,777.47	168,977.82
Net Receipts/(Payments) for Year			(249.14)
Balance as at 5th April 2024			14,982.97
Balance as at 5th April 2025			£14,733.83
Represented By:
Royal Bank of Scotland Designated Account		12,684.56	8,172.34
Rathbone Investment Management LedgerAccount		1,599.66	6,561.49
J. & H. Mitchell, W.S. LedgerAccount		698.75	0.00
		£14,982.97	£14,733.83

Andie Millar's Trust

Receipts and Payments Account (continued) Year Ended 5th April 2025

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2024 2025
£ £
(a) Total value of cash and investments £395,676.97 £377,284.83
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Comments:

(b) All funds held are unrestricted.

Approved by the Trustees and signed on their behalf:

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Date’2t/ (OfZ0 Ls
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Andie Millar's Trust Notes to the Account Year Ended 5th April 2025

Note 1 - Capital Realised	Note 1 - Capital Realised
Date		Date
Received	Description	Due	Amount
			£
	Bankers Investment Trust
29/04/24	Sale of 30,000 Ordinary 2.5p Shares	25/04/24	32,895.00
	Abrdn Inv Grade Corporate Bond Fund
01/05/24	Sale of 34,543 Income Shares	26/04/24	15,658.30
	Personal Assets Trust
03/05/24	Sale of600 Ordinary 12.5p Shares	01/05/24	2,890.50
07/02/25	Sale of 2,300 Ordinary 12.5p Shares	05/02/25	11,729.54
	Schroder Oriental Income Fund
18/06/24	Sale of 5,000 Ordinary 1p Shares	14/06/24	13,418.00
	Royal London Ethical Bond Fund
19/06/24	Sale of 13,000 Income Shares	14/06/24	13,013.00
	Veritas Global Equity Income Fund
20/06/24	Sale of 145 Income Shares	17/06/24	37,340.99
	Treasury 1/4% Stock 2025
31/01/25	Sale of£5,900 Stock	31/01/25	5,900.00
	Smithson Investment Trust
07/02/25	Sale of400 Ordinary 1p Shares	05/02/25	6,120.00
		C/Fwd	138,965.33

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 1 - Capital Realised (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	138,965.33
	Waystone Ruffer Total Return Fund
18/02/25	Sale of 3,483 Income Shares	12/02/25	12,262.26
	Liontrust Sust Future Month Bond Fund
13/03/25	Sale of 7,521 Income Shares	07/03/25	7,320.08
			£158,547.67
Note 2 - Dividends
Date		Date
Received	Description	Due	Amount
			£
	Bankers Investment Trust
28/06/24	30,000 Ordinary 2.5p Shares	31/05/24	201.60
	City of London Investment Trust
28/06/24	6,400 Ordinary 25p Shares	31/05/24	336.00
30/09/24	6,400 Ordinary 25p Shares	30/08/24	336.00
31/12/24	6,400 Ordinary 25p Shares	29/11/24	336.00
31/03/25	6,400 Ordinary 25p Shares	28/02/25	336.00
	Fidelity European Trust
31/05/24	3,000 Ordinary 2.5p Shares	14/05/24	149.70
31/10/24	3,000 Ordinary 2.5p Shares	25/10/24	108.00
		C/Fwd	1,803.30

Andie Millar's Trust

Notes to the Account (continued) Year Ended 5th April 2025

Note 2 - Dividends (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	1,803.30
	Finsbury Growth & Income Trust
31/05/24	1,900 Ordinary25p Shares	17/05/24	167.20
29/11/24	1,900 Ordinary25p Shares	08/11/24	205.20
	Greencoat UKWind plc
28/06/24	5,000 Ordinary 1p Shares	31/05/24	125.00
30/09/24	5,000 Ordinary 1p Shares	30/08/24	125.00
31/12/24	5,000 Ordinary 1p Shares	29/11/24	125.00
31/03/25	5,000 Ordinary 1p Shares	28/02/25	125.00
	Guinness Global Equity Income Fund
30/08/24	1,300 Income Shares	31/07/24	463.84
28/02/25	1,300 Income Shares	04/02/25	386.23
	HICL Infrastructure Co Ltd
31/07/24	4,500 Ordinary 0.01p Shares	28/06/24	36.33
31/10/24	4,500 Ordinary 0.01p Shares	30/09/24	12.05
31/01/25	4,500 Ordinary 0.01p Shares	31/12/24	21.32
05/04/25	4,500 Ordinary 0.01p Shares	31/03/25	27.81
	Mercantile Investment Trust
31/05/24	11,000 Ordinary 2.5p Shares	16/05/24	363.00
30/08/24	11,000 Ordinary 2.5p Shares	01/08/24	165.00
29/11/24	11,000 Ordinary 2.5p Shares	01/11/24	165.00
28/02/25	11,000 Ordinary 2.5p Shares	03/02/25	165.00
	Monks Investment Trust
30/09/24	1,000 Ordinary 5p Shares	17/09/24	21.00
		C/Fwd	4,502.28

Andie Millar's Trust

Notes to the Account (continued) Year Ended 5th April 2025

Note 2 - Dividends (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	4,502.28
	Murray International Trust
30/08/24	8,000 Ordinary 5p Shares	16/08/24	200.00
29/11/24	8,000 Ordinary 5p Shares	18/11/24	200.00
28/02/25	8,000 Ordinary 5p Shares	17/02/25	200.00
	Personal Assets Trust
30/04/24	2,900 Ordinary 12.5p Shares	16/04/24	40.60
30/08/24	2,300 Ordinary 12.5p Shares	31/07/24	32.20
30/08/24	2,300 Ordinary 12.5p Shares	31/07/24	36.80
31/10/24	2,300 Ordinary 12.5p Shares	04/10/24	32.20
31/01/25	2,300 Ordinary 12.5p Shares	24/01/25	32.20
	Schroder Oriental Income Fund
31/05/24	5,000 Ordinary 1p Shares	13/05/24	100.00
	Scottish American Investment Co
30/04/24	5,500 Ordinary 25p Shares	11/04/24	209.00
28/06/24	5,500 Ordinary 25p Shares	20/06/24	189.75
30/09/24	5,500 Ordinary 25p Shares	19/09/24	195.25
31/12/24	5,500 Ordinary 25p Shares	12/12/24	203.50
	SPDR S&P US Div Aristocrats Trust
31/07/24	270 Income Shares	15/07/24	88.55
31/10/24	270 Income Shares	01/10/24	73.83
31/01/25	270 Income Shares	02/01/25	75.43
05/04/25	270 Income Shares	03/04/25	86.75
		C/Fwd	6,498.34

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 2 - Dividends (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	6,498.34
	Stewart Investors Asia Pacific Leaders Fund
30/09/24	650 Accumulation Shares	30/09/24	29.84
31/03/25	650 Accumulation Shares	31/03/25	12.83
	Waystone Ruffer Total Return Fund
31/05/24	3,483 Income Shares	15/05/24	115.77
29/11/24	3,483 Income Shares	15/11/24	133.08
			£6,789.86
Note 3 - Interest
Date		Date
Received	Description	Due	Amount
			£
	Royal Bank of Scotland
	Designated ClientAccount
28/06/24	Interest	28/06/24	24.91
30/09/24	Interest	30/09/24	11.25
31/12/24	Interest	31/12/24	7.49
31/03/25	Interest	31/03/25	10.69
	Rathbone Investment Management
28/06/24	Interest	25/06/24	3.83
30/09/24	Interest	25/09/24	26.91
31/12/24	Interest	23/12/24	18.85
31/03/25	Interest	26/03/25	24.14
		C/Fwd	128.07

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 3 - Interest (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	128.07
	Abrdn Global Index-Linked Bond Fund
31/07/24	18,000 Income Shares	28/06/24	113.27
31/10/24	18,000 Income Shares	30/09/24	97.85
31/01/25	18,000 Income Shares	31/12/24	99.72
05/04/25	18,000 Income Shares	31/03/25	113.02
	Abrdn Inv Grade Corporate Bond Fund
31/05/24	34,543 Income Shares	30/04/24	169.40
	Artemis Corporate Bond Fund
29/11/24	10,000 Income Shares	31/10/24	57.44
28/02/25	10,000 Income Shares	31/01/25	124.65
	Bluebay Global Investment Group Corporate Bond Fund
30/04/24	165 Income Shares	08/04/24	187.24
31/07/24	165 Income Shares	05/07/24	183.12
31/10/24	165 Income Shares	07/10/24	173.91
31/01/25	165 Income Shares	09/01/25	204.07
	HICL Infrastructure Co Ltd
31/07/24	4,500 Ordinary 0.01p Shares	28/06/24	56.82
31/10/24	4,500 Ordinary 0.01p Shares	30/09/24	80.65
31/01/25	4,500 Ordinary 0.01p Shares	31/12/24	71.38
05/04/25	4,500 Ordinary 0.01p Shares	31/03/25	64.89
	Liontrust Sust Future Month Bond Fund
30/09/24	9,000 Income Shares	31/08/24	31.50
31/10/24	9,000 Income Shares	30/09/24	31.50
29/11/24	9,000 Income Shares	31/10/24	31.50
		C/Fwd	2,020.00

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 3 - Interest (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	2,020.00
	Liontrust Sust Future Month Bond Fund
31/12/24	9,000 Income Shares	30/11/24	31.50
31/01/25	9,000 Income Shares	31/12/24	31.50
28/02/25	7,521 Income Shares	31/01/25	39.66
31/03/25	7,521 Income Shares	28/02/25	31.59
05/04/25	7,521 Income Shares	31/03/25	31.59
	Rathbones High Quality Bond Fund
31/07/24	12,000 Distribution Shares	28/06/24	120.00
31/10/24	12,000 Distribution Shares	30/09/24	123.60
31/01/25	12,000 Distribution Shares	31/12/24	127.20
05/04/25	12,000 Distribution Shares	31/03/25	120.00
	Royal London Ethical Bond Fund
31/07/24	13,000 Income Shares	28/06/24	153.06
	Treasury 4.1/4% Stock 2032
28/06/24	£7,200 Stock	07/06/24	153.00
31/12/24	£7,200 Stock	07/12/24	153.00
	Treasury 4.1/8% Index-Linked Stock 2030
31/07/24	£1,600 Stock	22/07/24	92.16
31/01/25	£1,600 Stock	22/01/25	94.38
	Treasury 1/4% Stock 2025
30/08/24	£5,900 Stock	31/07/24	7.38
28/02/25	£5,900 Stock	31/01/25	7.38
		C/Fwd	3,337.00

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 3 - Interest (continued)

Date		Date
Received	Description	Due	Amount
			£
		B/Fwd	3,337.00
	Treasury 7/8% Green Stock 2033
30/08/24	£5,000 Stock	31/07/24	21.88
28/02/25	£5,000 Stock	31/01/25	21.88
	Treasury 1/8% Index-Linked Stock 2036
31/05/24	£5,600 Stock	22/05/24	5.15
29/11/24	£5,600 Stock	22/11/24	5.24
			£3,391.15
Note 4 - Capital Invested
Date		Date
Paid	Description	Due	Amount
			£
	Murray International Trust
30/04/24	Purchase of 8,000 Ordinary 5p Shares	26/04/24	20,054.27
	Monks Investment Trust
30/04/24	Purchase of 1,000 Ordinary 5p Shares	26/04/24	11,364.10
	Brown Advisory US SmallerCos C Fund
30/04/24	Purchase of450 Income Shares	26/04/24	10,875.47
	Treasury 1/8% Index-Linked Stock 2036
02/05/24	Purchase of£5,600 Stock	01/05/24	7,522.34
		C/Fwd	49,816.18

Andie Millar's Trust

Notes to the Account (continued) Year Ended 5th April 2025

Note 4 - Capital Invested (continued)

Date		Date
Paid	Description	Due	Amount
			£
		B/Fwd	49,816.18
	Polar Capital Technology Trust
18/06/24	Purchase of400 Ordinary 25p Shares	14/06/24	12,990.02
	Findlay ParkAmerican Income Fund
18/06/24	Purchase of 100 Income Shares	14/06/24	16,989.19
	Ishares plc
18/06/24	Purchase of200 Physical Gold Shares	14/06/24	7,087.40
	Artemis Corporate Bond Fund
20/06/24	Purchase of 10,000 Income Shares	14/06/24	9,103.00
31/10/24	Equalisation on 10,000 Income Shares	31/10/24	(71.46)
	Stewart Investors Asia Pacific Leaders Fund
20/06/24	Purchase of650 Accumulation Shares	14/06/24	6,953.31
30/09/24	Book CostAdjustment for Distribution	30/09/24	29.84
31/03/25	Book CostAdjustment for Distribution	31/03/25	12.83
	Liontrust Sust Future Month Bond Fund
21/06/24	Purchase of 9,000 Income Shares	17/06/24	7,409.70
31/07/24	Equalisation on 9,000 Income Shares	31/07/24	(31.50)
	Treasury 7/8% Green Stock 2033
06/02/25	Purchase of£5,000 Stock	05/02/25	3,777.68
		C/Fwd	114,066.19

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 4 - Capital Invested (continued)

Date		Date
Paid	Description	Due	Amount
			£
		B/Fwd	114,066.19
	Treasury 4.1/8% Stock 2027
06/02/25	Purchase of£8,000 Stock	05/02/25	8,008.04
	JP Morgan Japanese Investment Trust
07/02/25	Purchase of 1,300 Ordinary 25p Shares	05/02/25	7,702.07
	Blackrock Global Event Driven Fund
11/02/25	Purchase of 35 Income Shares	06/02/25	4,089.44
	Natixis US Equity Leaders Fund
12/02/25	Purchase of 1,000 Income Shares	06/02/25	8,058.20
	Rathbones Ethical Bond Fund
13/03/25	Purchase of 8,800 Income Shares	07/03/25	7,796.44
			£149,720.38
Note 5 - Grants & Donations
Date
Paid	Description		Amount
			£
18/04/24	Grant forCoached Kayaking Trip to France		500.00
		C/Fwd	500.00

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 5 - Grants & Donations (continued)

Date
Paid	Description		Amount
			£
		B/Fwd	500.00
	Pitlochry Path Group
01/07/24	Grant forNew Path at Lady's Dell, Pitlochry		900.00
	Moulin Hall Trust
09/07/24	Grant for Renewal of Hall Window & Stage Curtains		1,500.00
	Pitlochry Community First Responders
15/07/24	Grant for Set Up Support to the ScottishAmulance Service		2,000.00
	Killiecrankie Memorial Hall Trust
15/07/24	Grant for Replacement Notice Board & Display Boards		1,500.00
	Holy Trinity Episcopal Church Pitlochry
16/07/24	Grant for Installation of Paved Level Access Path		2,000.00
	1st Perthshire Pitlochry Scout Group
12/08/24	Grant for Scout Hall Improvement Project		2,000.00
	Perth & Kinross Council for Pitlochry High School
20/09/24	Grant for Activity to SupportYoung People to Learn a Variety
	of Musical Instruments		2,000.00
			£12,400.00

Andie Millar's Trust Notes to the Account (continued) Year Ended 5th April 2025

Note 6 - Administration Expenses

Date
Paid	Description		Amount
			£
	Rathbone Investment Management
06/04/24	Management Fee to 05/04/24		858.22
01/07/24	Management Fee to 30/06/24		866.87
01/10/24	Management Fee to 30/09/24		881.24
01/01/25	Management Fee to 31/12/24		878.93
	J. & H. Mitchell, W.S.
11/06/24	Fees for Cost of Running the	Trust to 05/04/24	891.85
11/06/24	VAT thereon@ 20%		178.37
05/07/24	Fees for Cost of Running the	Trust to 05/04/24	1,248.15
05/07/24	WAT thereon@ 20%		249.63
05/07/24	Fees for Preparing Receipts	& Payments Account to 05/04/24	400.00
05/07/24	VAT thereon@ 20%		80.00
	IM Creator (BLS Website Hosting)
27/06/24	Yearly Website Subscription Charge		93.44
28/06/24	Yearly Premium Domain Subscription Charge		8.74
	Walton Kilgour Chartered Accountants
13/09/24	Fee for Independent Examination ofAccounts		222.00
			£6,857.44

Note 7 - Trustees’ Remuneration & Expenses

Date
Paid	Description	Amount
		£
	No remuneration has been paid to any Trustee during the year (2024: nil)	0.00
	No expenses were reimbursed to any Trustee during the year (2024: nil)	0.00
		£0.00

Andie Millar's Trust

Appendix to the Account Year Ended 5th April 2025

Appendix 1 - Royal Bank of Scotland Transactions (Designated Client Account)

Date	Description	Lodged	Withdrawn	Balance
		£	£	£
	Balance as at 5th April 2024			12,684.56
02/05/24	Received from LedgerAccount	1,502.52		14,187.08
28/06/24	Interest	24.91		14,211.99
05/07/24	Payment to LedgerAccount		1,970.78	12,241.21
09/07/24	Payment to LedgerAccount		1,500.00	10,741.21
15/07/24	Payment to LedgerAccount		2,000.00	8,741.21
15/07/24	Payment to LedgerAccount		1,500.00	7,241.21
16/07/24	Payment to LedgerAccount		2,000.00	5,241.21
31/07/24	Received from LedgerAccount	843.31		6,084.52
12/08/24	Payment to Ledger Account		2,000.00	4,084.52
30/08/24	Received from LedgerAccount	927.10		5,011.62
13/09/24	Payment to LedgerAccount		222.00	4,789.62
20/09/24	Payment to LedgerAccount		2,000.00	2,789.62
30/09/24	Received from LedgerAccount	735.66		3,525.28
30/09/24	Interest	11.25		3,536.53
31/10/24	Received from LedgerAccount	733.59		4,270.12
29/11/24	Received from LedgerAccount	797.46		5,067.58
31/12/24	Interest	7.49		5,075.07
06/01/25	Received from LedgerAccount	867.85		5,942.92
31/01/25	Received from Ledger Account	757.20		6,700.12
28/02/25	Received from LedgerAccount	944.80		7,644.92
31/03/25	Received from LedgerAccount	516.73		8,161.65
31/03/25	Interest	10.69		8,172.34
	Balanceasat5thApril2025			£8,172.34

Andie Millar's Trust

Appendix to the Account (continued) Year Ended 5th April 2025

Appendix 2 - Capital Investments as at 5th April 2024

		Value
Holding	Price	05/04/24	Cost
		£	£
Abrdn Global Index-Linked Bond Fund
18,000 Income Shares	£0.49	8,798	10,195
Abrdn Inv Grade Corporate Bond Fund
34,543 Income Shares	£0.46	15,859	17,662
Bankers Investment Trust
30,000 Ordinary 2.5p Shares	£1.10	33,120	34,650
Bluebay Global Investment Group Corporate Bond Fund
165 Income Shares	£89.21	14,720	14,632
City of London Investment Trust
6,400 Ordinary 25p Shares	£4.02	25,728	23,021
Fidelity European Trust
3,000 Ordinary 2.5p Shares	£3.89	11,670	10,588
Finsbury Growth & Income Trust
1,900 Ordinary 25p Shares	£8.32	15,808	15,951
Greencoat UKWind plc
5,000 Ordinary 1p Shares	£1.38	6,875	6,905
Guinness Global Equity Income Fund
1,300 Income Shares	£29.34	38,137	28,441
HICL Infrastructure Co Ltd
4,500 Ordinary 0.01p Shares	£1.25	5,625	7,560
Mercantile Investment Trust
11,000 Ordinary 2.5p Shares	£2.22	24,420	20,810
Personal Assets Trust
2,900 Ordinary 12.5p Shares	£4.80	13,920	13,038
Rathbones High Quality Bond Fund
12,000 Distribution Shares	£0.90	10,820	10,354
Royal London Ethical Bond Fund
13,000 Income Shares	£1.01	13,065	15,159
	C/Fwd	238,565	228,966

Andie Millar's Trust Appendix to the Account (continued) Year Ended 5th April 2025

Appendix 2 - Capital Investments as at 5th April 2024 (continued)

		Value
Holding	Price	05/04/24	Cost
		£	£
	B/Fwd	238,565	228,966
Schroder Oriental Income Fund
5,000 Ordinary 1p Shares	£2.59	12,950	9,498
Scottish American Investment Co
5,500 Ordinary 25p Shares	£5.01	27,555	28,219
Smithson Investment Trust
1,000 Ordinary 1p Shares	£14.14	14,140	17,920
SPDR S&P US Div Aristocrats Trust
270 Income Shares	£56.31	15,202	13,989
Treasury 1/4% Stock 2025
£5,900 Stock	£0.97	5,698	5,457
Treasury 4.1/4% Stock 2032
£7,200 Stock	£1.02	7,462	7,241
Treasury 4.1/8% Index-Linked Stock 2030
£1,600 Stock	£3.44	5,515	6,159
Treasury 7/8% Green Stock 2033
£5,000 Stock	£0.76	3,793	3,647
Veritas Global Equity Income Fund
144.57 Income Shares	£261.25	37,769	22,982
Waystone Ruffer Total Return Fund
3,483 Income Shares	£3.46	12,045	12,186
		£380,694	£356,264

Andie Millar's Trust

Appendix to the Account (continued) Year Ended 5th April 2025

Appendix 3 - Capital Investments as at 5th April 2025

		Value
Holding	Price	05/04/25	Cost
		£	£
Abrdn Global Index-Linked Bond Fund
18,000 Income Shares	£0.48	8,694	10,195
Artemis Coporate Bond Fund
9,088 Income Shares	£1.00	9,057	9,032
Blackrock Global Event Driven Fund
35 Income Shares	£109.15	3,820	4,089
Bluebay Global Investment Group Corporate Bond Fund
165 Income Shares	£90.91	15,000	14,814
Brown Advisory US SmallerCos C Fund
450 Income Shares	£21.84	9,828	10,875
City of London Investment Trust
6,400 Ordinary 25p Shares	£4.26	27,232	23,021
Fidelity European Trust
3,000 Ordinary 2.5p Shares	£3.55	10,635	10,588
Findlay ParkAmerican Income Fund
100 Income Shares	£163.17	16,317	16,989
Finsbury Growth & Income Trust
1,900 Ordinary25p Shares	£8.44	16,036	15,951
Greencoat UKWind plc
5,000 Ordinary 1p Shares	£1.05	5,250	6,905
Guinness Global Equity Income Fund
1,300 Income Shares	£30.66	39,853	28,441
HICL Infrastructure Co Ltd
4,500 Ordinary 0.01p Shares	£1.08	4,851	7,560
Ishares plc
200 Physical Gold Shares	£45.40	9,080	7,087
JP Morgan Japanese Investment Trust
1,300 Ordinary25p Shares	£5.10	6,630	7,702
	C/Fwd	182,283	173,249

Andie Millar's Trust

Appendix to the Account (continued) Year Ended 5th April 2025

Appendix 3 - Capital Investments as at 5th April 2025 (continued)

		Value
Holding	Price	05/04/25	Cost
		£	£
	B/Fwd	182,283	173,249
Mercantile Investment Trust
11,000 Ordinary 2.5p Shares	£2.10	23,100	20,810
Monks Investment Trust
1,000 Ordinary 5p Shares	£10.84	10,840	11,364
Murray International Trust
8,000 Ordinary 5p Shares	£2.47	19,720	20,054
Natixis US Equity Leaders Fund
1,000 Income Shares	£6.16	6,158	8,058
Polar Capital Technology Trust
4,000 Ordinary 2.5p Shares	£2.64	10,540	12,990
Rathbones Ethical Bond Fund
8,800 Income Shares	£0.88	7,735	7,796
Rathbones High Quality Bond Fund
12,000 Distribution Shares	£0.91	10,865	10,354
Scottish American Investment Co
5,500 Ordinary25p Shares	£4.76	26,153	28,219
Smithson Investment Trust
600 Ordinary 1p Shares	£13.38	8,028	10,752
SPDR S&P US Div Aristocrats Trust
270 Income Shares	£55.00	14,850	13,989
Stewart Investors Asia Pacific Leaders Fund
650 Accumulation Shares	£9.74	6,334	6,983
Treasury 1/8% Index-Linked Stock 2036
£5,600 Stock	£1.32	7,386	7,522
Treasury 4.1/4% Stock 2032
£7,200 Stock	£1.01	7,353	7,241
	C/Fwd	341,345	339,381

Andie Millar's Trust

Appendix to the Account (continued) Year Ended 5th April 2025

Appendix 3 - Capital Investments as at 5th April 2025 (continued)

		Value
Holding	Price	05/04/25	Cost
		£	£
	B/Fwd	341,345	339,381
Treasury 4.1/8% Stock 2027
£8,000 Stock	£1.00	8,087	8,008
Treasury 4.1/8% Index-Linked Stock 2030
£1,600 Stock	£3.40	5,471	6,159
Treasury 7/8% Green Stock 2033
£10,000 Stock	£0.76	7,648	7,424
		£362,551	£360,972

Andie Millar's Trust

Scottish Charity Number: SC037334

Independent Examiner's Report to the Trustees of Andie Millar's Trust

| report on the accounts of the charity for the year to 5th April 2025 which are set out on the previous pages.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In the course of my examination, no matter has come to my attention.

1 which gives me reasonable cause to believe that in any material respect the requirements:
. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts regulations, and
: to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Name:

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