Docusign Envelope ID.. B579BEc￿FD374F6E.92EQ-4641BBE4DEF3
Scottish Charrty No SC046216
JEAN AND ROGER MILLER'S CHARITABLE TRUST
Iscottish Charitsble Incorporated Organi5ationl
TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Brodies LLP
Capital Sqtjare
58 Morrison Street
Edinburgh EH3 8BP
T.. 0131228 3777
Ref.. KPI.CET.MIL0651

Docusign Envelope ID.. B579BEc￿FD374F6E.92EQ-4641BBE4DEF3
JEAN AND ROGER MILLER'S CHARITABLE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2024
Rèfargncg and Administration Infomiation
Scottish Charity Number SC046216
Contsnts
Pag•
Reference and Administrative Information
Annual Report of the Trustees
Independent Examiner's Report
Slalement of Receipts and Payments
Slalement of Balances
Notes lo the Financial Statements
Trustees
Rogisterod Office. Solicitors. Secrotarias & Tr8asurors
8rodies LLP
Capital Square
58 Morrison Street
Edinburgh EH3 88P
8ankern
Royal Bank of Scollantj
36 Sl Andrew Squa
Edinburgh EH2 2AD
Investment Manag•r8
RBC Brewn Dolphin
Sixth Floor
Atria One
144 Morrison st￿et
Edinburgh EH3 8EX
Independent Examiner
Chartered Accountant
Brodies LLP
Capital Square
58 Morrison Street
Edinburgh EH3 88P
Acc 2024 Mil 651 31De¢2024 SCIO R*P(75432151.1Itsx
Brodies

Enwbp8 ID.. B5MECLVD374F6E-92EC-4641BBE4DEF3
JEAN AND ROGER MILLER'S CHARrrABLE TRUST
ANMUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their rep¢xt *ith the financial statements for the year ended 31 December 2024.
structurn, Govemanco and Planag•m•nt
E8Lgbllghm•nt of trust
The trust was established as a Scotli8h Chantable Incorporated Organisalion {SCIOI on 17 Oecember 2015.
It i¥ a Scotb'sh regi$lered Charity. n￿rnb￿ SC046216 and it is aho registered for tax rel'ef Imth HM
Revenue & Customs.
Trust•e m••tln95 and appolntm•nt
New tru¥tee¥ are un4nlmou$ty appolr)tsd by the exl8llng tru8tee8. and are brlefed on the SCIO'S alm8,
obj'ectives, grant making poly and purposes. At the annual trustee's meeting, 8rodie8 LLP infonn the
trustees of any changes in the l¥w Ihal may affect th¢ SCIO and the inve$tm8nl manager, RBC Brewn
Dolphin, provides a detsiled presentation or report on ¢hange$ in market condrfi'on. The trusl•es th•n agreo
the broad strategy and areas of athirty for the SCIO. induding con81der8tson of grant making, in¥e8trnent,
reserves and risk management policie3 and perfonnarKe.
The day lo d8y management of the SCIO is d*aled lo Brodies LLP.
ObJ•ctlvM and ActSvlt
Charttabl• purpoM•
In operating 48 a'gfant*iwng' chanty the SCIO hos on int•ntion81ty V•ide of charitatl? purpo$•8 to keep
open OpF4)rtun￿.ey f¢x funding ¢hantle$, commmrty groups other8 *) lurther4n¢e of Section 7 of the
char￿"e5 and Trustees Iscotlandl Act 2005.
The purpose of the SCIO is to prom¢)te, advance arKI operate as a "grant givin￿ chanty for the benefit of
those charitatle purwises KIentif￿ in Secti￿ 7 of the Charites and Twstee Investment ISGodandl AGt
2005. by making grants to oppropriate inslrtutws and individuab.
Regarding the Criteria used by the tTUStee$ to as￿$5 $u¢ce$$, the trustees monitor the perforniance of the
SCIO'8 investment p￿lfollO lo measure the gro%th of capital and Income. The trustees are atle lo dlsffibute
411 of IM generated income lo $upport the ch￿en ￿M￿clarI•S.
Grnnt maklng pdlcy
Grants ar• awarded in ac¢ordanc• with the ol'•¢tive8 out In SCIO'8 purposes above, The trusl•e8'
polw 18 to ¢￿8￿1er 8ppli¢ation8 for grants annually.
A¢hl•v•m•nts and P•rfornianc•
A donation of £182,750.00 was recobved frcrfn tho eslate of the fourKler. the late Roger Milknr during tho year
12023.. £352,611.33).
The Inveglment income amounted lo £23,171.23 (2023.. £16,889.52).
SCIO made donations amounb'ng to £205,250.00 durlng the year12023'. £175,250.00) a$ dets11￿ In
note 10 to the a￿UnIS in fvrtherance of its ¢hantable purposes. 11 Should be noted that within the lot41
don8tion$ paid, £22,500.00 had been agreed last year.
Flnanclal Rovl•w
As al 31 De￿mber 2024 the m￿)rICe market value of ts SCIO'$ p￿￿10 £944,866 12023..
£871.4941. The SCIO does not raise any income from the pubk.
Reserves policy
It is the poli¢y of th• SCIO to mainlain unrestri¢Xed fvnd$ al a knl suffi¢￿1 to cover management,
administrats.on and donations. Reserves at 31 December 2024 there £964,49124 12023.. £897,095.74),
$htr•4ing that the Sc￿) hokjs sufficient fvnds to Cover thege experrte$.
. Acc2024 MIL651 51l￿ 2024 SCIO R*P(7Y32151.11)1&¥
Brodies

Docusign Envelope ID.. B579BEc￿FD374F6E.92EQ-4641BBE4DEF3
JEAN AND ROGER MILLER'S CHARITABLE TRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment policy
The SCIO uses the services of RBC Brewn Dolphin as discretionary investment adwsers. The policy 15 to
look for a balance of income and capital gro￿ vAth a medium risk profile and medium priorty for income
generation.
Risk managèmant
The trustees have assessed the risks to Ythich the SCIO is exposed, in particular those related to the
operations and finances of the SCIO and are satisfied that systems are in place to rnits'gate exposure to
major risks. The trustees ¢onsider variability of investment retums as one of Ihe maj¢y risks, and therefore
the SCIO uses the services of RBC Brewn Dolphin as investrnent advisers.
Future Plans
By ctsnlinuing to award funding lo chantses, the SCIO provides 8 long lem ￿mmItMent to meeting i(8
objectives.
Stslemgnt of the Twst•￿' R￿pOnSIbIlItIeS
The trustees are responsible for preparing the trustees, annual report and the financial stslemenls in
accordance with applicable law and United KiNJdom Accounting Standards {Uniled Kingdom Generally
Accepted Accountin9 Practicel.
The law applicable to cham'es in Scotland requires the trustees to prepare financial statemen15 for each
financial year vthich give a true and fair wew of the Stale of affairs of the SCIO and of the in¢oming
resources and application of resoufces of the SCIO for that period. In preparing these financial slatemenls.
the trustees are required lo..
select suitable accounting policies and then apply them consislenlly".
observe the methods and principles in the Charitses SORP",
make judgments and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any material departures
di$¢losed and explained in the financial $tatements'. and
prepare the financial statements on the going concern basis unless it 1$ inappropriate to presume that
the trust wll continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the trust's transactions and disclose wlh reasonable accuracy at any time the financial position of
the SCIO and enable them lo ensure Ihal the financial slalements compty with the Charrties and Trustee
Investment (Scollandl Act 2005. Regulation 8 of the charib.es Accounts Iscollandl Regulations 2006 and
the provisions of the SCIO'S constitution. They are also responsible for safeguarding the assets of the SCIO
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularib'es.
The trustees confirm that the Financial Statements comply with the above requirements.
Approved by the trustees and authorised for issue on their behall on'.08 Augu5l 202516..09 AM PDT
rustee
. Acc 2024 Mil 651 31Dec 2￿24 SCIO R*PI75432151_11.
Brodies

Docusign Envelope ID.. B579BEc￿FD374F6E.92EQ-4641BBE4DEF3
JEAN AND ROGER MILLER'S CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
FOR THE YEAR EhlDED 31 DECEMBER 2024
I report on the financial stslements of the SCIO for the year ended 31 Decembei 2024 which are sel out on
pages 5 10 9.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the p￿parats.0n of the a¢¢ounls in a¢¢ordan¢e wth the temis of the
Charib'es and Trustee Investsnenl (Scotlandl 2005 Act and the Charities Accounts (Scotlandl Regulations
2006. The charity trustees consider that the audit requirement of Regulation 10111 Idl of the Accounts
Regulations does not apply. It is my responsibilty to examine the accounts as required under section 44111 Icl
of the Act and to state vthether particular matters have come lo my attenti¢)n.
Basis of ind8p8nd8nt 8xamin8rf8 statem•nt
My examination is ¢arTied out in accordance with Regvlation 11 of the Chari(ies Accounts (Scollandl
Regulations 2006. An examination includes a review of the accounting records kept by the charity and
comparison of the accounts presented with those records. It also includes consideration of any unusual items
or disclosures in the accounts and $eeks explanations from the trustees ¢oncerning any such matters. The
procedures undertaken do not provide all the eV￿enCe that Y￿uld be ￿quired in an audit and. consequently, I
do not exDre$$ an audit opinion on the accounts
Ind•p•nd•nt •xamin•rfs statsment
In the course of my examination, no matter has come to my attention
1. vthich gives me reasonable cause lo believe that in any material respect the requirements..
lo keep accounting records in accordance Imth $eclion 44111 lal of Ihe 2005 Act and Regulation 4 of the
2006 Accounts Regulations. and
lo prepare accounts vthich accord V￿t￿ the aceounling records and comply ￿￿th Regulation 9 of the 2006
Accounts Regulations
have not been met. or
2. 10 which, in my opinion. attention should be dravm in order lo enable a proper understanding of the
accounts lo be reached.
Chartered Accountant
8rodies LLP
Capital Square
58 Morrison Street
Edinbur
h EH3 8BP
06 August 2025112".12 PM BST
. Acc 2024 Mil 651 31Dec2024 SCIO R4P(75432151.1Ithx
Brodies

Enwbp8 ID.. B5MECLVD374F6E-92EC-4641BBE4DEF3
JEAN AND ROGER MILLER% CHARrrABLE TRUST
STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Unre•tiicted Fund
Exp•ndabl•
2024
2023
Fund
Fund
Total
R•￿Ipts
Oonation8
Investment income
182,750.LX)
182,750.00
23,171.23
352,611.33
16.889.52
23.171.23
Total rg¢0ipts
182.7￿.
23,17123
205,921.23
389,500.85
Paym•nts
Investment managoment CO8ts 11
Oonations made
10
Administration expen8es
12
3.928.44
3,928.44
205,250.CQ
8,0￿.c￿?
3,234A2
175.250.00
6,120.00
205,250.C(I
3,C(().(KJ
3.LNM),rA)
6.928.44
208,25￿(￿1
215,178.44
184,604.42
Inv8stm•nt8 purCha￿d In•tl
19,217.91
19,217.91
182,628.80
Total payThenls
26.146.35
208.25￿(￿)
234,3￿.35
387,233.02
Nel recelp18 1 IpayYnent8)
156.803.65 1 185,07&771 ( 28.475.121
2,267.83
Tran8fer (from) I lo lund8
18S.839.16)
185,639.16
(Deffiot) IsurFIu$
29.03S.51
S8029
28.475.12
2.267A3
All act1￿1188 of Ihe SCIO Telale to conllnuing Operat￿5.
Tho not88 on pages 7 to 9 form part of thKe financial slat•m8nts.
. Ar& 2024 MI_651 31t)eG2024 S(X) R+PI7S132151.1Ithx
Brodie¥

JEAN AND ROGER MILLER'S CHARrfABLE TRUST
STATEIIENT OF BALANCES
AS AT 31 DECEIIJBER 2024
2024
Total
2023
Total
Funds
R•v•nu• Funds
Cash Funds
Opening cash at bank and in hand
Add..
Recelpt and Payments Surp￿￿(￿e￿¢1t)
46,027.56
2,074.18
48,101.74
45,833.91
{ 29,035.51)
560.39
1 28,475.12)
2,287.83
Clo8lng cash at bank and In hw
16,992.05
2,634.57
19,626.62
48,101.74
8ank and ca•h b•lanc••
R8C 8rthMn Dol)hin- cash
Brodies LLP. cash
Royal B4nk of S¢otland- SSDA
16,937.98
2,634.57
19,572.55
25,558.77
287.20
22.277.77
54.07
54,07
16,992.05
2,634.57
19,628.62
48,101.74
Inv••tm•nts
Inveslments at market valug
as monapd by RBC Br•v*in Do¢>hln
944,865.82
944.865.62
871,494.00
Donations agrmd. paid post y•ar •rnl
22,500.00
Total Reserv•#
961,857.67
2,634.57
964,492.24
897,095.74
08 Aug￿1 2025111..09 PM PDT
Approved on behalf of the trustees on
Trustee
. Ar& 2024 MI_651 31t)eG2024 S(X) R+PI7S132151.1Ithx
Brvji

Enwbp8 ID.. B5MECLVD374F6E-92EC-4641BBE4DEF3
JEAN AND ROGER IAILLER'S CHARrrABLE TRUST
NOTES FORMING PART OF THE F*IANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 84118 ol Accountlng
These accounts have been prepared on the Rtttypt$ and Payments basis in accordance the
Charities and Trustee Investment IS¢otlandl A¢1 2005 and the Charities A¢wJnts (Scotlandl Re9￿allon
20C6. The gr055 income this year means the total reC(￿ded income in all funds tr￿t not including
resources received as capit4 ￿1th1n the "Expendat4e Endol￿nent Fund.
2 Natur• and Purpos• of FurMI•
unreStr￿ted fvnd$ are those that may be u¥ed at the dixretiry) of the trustee¥ in furtherance of the
objects of the charty. The tru$Y$ un￿Stricted fvnds ¢ompftse of a Expenda14e Endowment fund and
Revenue fund. The Expendable Endowment fund represents capitsl fvnds rewved and subsequent
Ir8nsacllon$ for investment to generate the irKome {revenuel ks$ any relevant expense$ incurred.
Revenue is the Income recewed from the caprt4 investments also subject to expenses. Donat￿n8 are
usualty paid froffl the availabb Revenue b4ance. Hthvaver the trustees arn fr00 lo uso eithgr fund for
any purpose in furtherance of the ¢harrtat4e purposos rf they w delerniine.
There 1$ a transfer of £185,639.161£161,764.03) frrffi the Expend•ble ErKlowmonl Fund to Revonuo
Fund lo cover donabon$ made.
Admlnislration costs hav• been allocal•d b•tw••n capital and rw•nu• on a 50'.50 ba$S8.
3 VAT
The trust 18 not regster•d for VAT and acce￿ingty exp•nditur• indude$ VAT ￿ere appropriate.
4 Taxatlon
The Iru8t18 a charty and is ￿OgnISed as such by H M Revenue & Customs for taxation purposes. A$
result there is liability to taxation M any of Its Income.
Employ••s
The tnjst had no emFtyeJ at any time dwlng the >*ar.
8 Tru•t••• r•mun•rntlon
2023 .. £ nil
2024 .. £ nil
7 Tru•t*•• •xp•n••#
2023 .. £ nil
2024 .. £ nil
Rdated P•rty Tran¥*ction*
Bfodies & Co. (frusleesl Limited, a trustee, 1$ 4s8ttiate¢l vhth the fimi Brodies LLP. Brodies LLP are
$ecretarie$, solicrtors, and treasurers to the tru$L During the year 8rc#J*$ LLP c*arged the trust
£6,000.00 for these ser¥ices12023.' £6,120.00).
. Acc 2024 MM_651 31Dec2024 SCIO R+PI75432151.1lJtsx
Brodie8

Enwbp8 ID.. B5MECLVD374F6E-92EC-4641BBE4DEF3
JEAN AND ROGER IAILLER'S CHARrrABLE TRUST
NOTES FORMING PART OF THE F*IANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9 kn¥•stm•nts
Investments are quoted Internatior￿ Stsxk Exchanges and staled at market value.
Investment8 are revitmed 8t least yearti by the investrnenl managers and changes In the pth11011o are
made on their recMIMendat￿ wthin Iheir diycreb"¢)nary mandate.
2024
2023
Opening market value
Les$'.
DSspo811s at openlng market value l cost
Add..
Acqui8ilion8 81 cost
N•1 gainslllossesl on r•vthJ4tion at 31 D•c•mb
Clos￿9 market value
Cost
871.494.00
625,498.00
67,857.28) { 408,360.231
97,633.36
43,595.54
944,865.62
619,748.93
34,609.30
871,494.00
856,909.00
827.132.92
Cash mov•m•nt
Investment5 realised
Inve$lment5 purchased
N•t investments (pJrchasedyr•al8ed
78,415.45
97,633.36
19,217.91
437,120.33
619,748.93
182,628.60
10 Donatlon• mad•
2024
2023
Caprtal Theatres
Childrens Hospi¢e8 A¢roYJ Scodand
Edinburgh Napier Universty Devewienl Trust
Galapagos Conservation Trust
Napier University DevelO￿eftt TnAt
National TNst for Scorfand
Ocean Yotrth Trust (S￿lIan￿) Ltd
Rewldlng Brftain
Royal National Lrfeboat Inslitulion
Royal Scottish Nation81 Or¢he8tr8
SAUKT- Safvation AJMY
Scottish Schools DebotirMJ
STAR- &"t4ings Reunrted
st Andrews & St Georges West Church
St Cc4umbia'$ Hospice
The Woorjand Tntst
Vl$ual Arts Scolland
WaterAd Limrted
12.500.00
12,500.00
12,500.00
12,500.00
12,500.00
12,500.00
12,500.00
12,500.00
20,000.00
25,000.00
12,500.00
10.000.00
12,500.00
6.000.00
5,000.00
3,000.00
10,000.00
6,250.00
12,500.00
20,000.00
12,500.00
205,250.00
40,000.00
12,500.00
10,000.00
12,500.00
6,000.00
3,000.00
10,000.00
6,250.00
12,500.00
12.500.00
175,250.00
Note..
Included in the above 2024 are 2 donat￿9 agreed in the pm1￿$ year amLNJnting to £22,$00.00,
and paid in the current year.
. Acc 2024 MM_651 31Dec2024 SCIO R+PI75432151.1lJtsx
Brodie8

Enwbp8 ID.. B5MECLVD374F6E-92EC-4641BBE4DEF3
JEAN AND ROGER IAILLER'S CHARrrABLE TRUST
NOTES FORMING PART OF THE F*IANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11 knv•8tm•nt manag•m•nt ¢08ts
2024
2023
RBC Brewn Dolphin- portlolio management fees
3,928.44
3,234A2
(Note." 8rev•in Do￿h1n dealing charw for Ihe ￿r am￿nted to £nl12023". £3.00). These We in add￿"on
to the portloloo management fees).
12 Admlnl•tr•tlon •xp•nM•
2024
2023
8rodie8 LLP- Man￿ernent feeg + VAT
6.000.00
6,120.00
6,000.00
6,120.00
13 Gu•rantsM and Commllm•nts
There are no conb'ngent h"abilb'e$ at the balance sheet date.
. Acc 2024 MM_651 31Dec2024 SCIO R+PI75432151.1lJtsx
Brodie8

Qdocusign.

Qdocusign.