JOHN D MILNE'S CHARITABLE TRUS[
SCOTllSH CHARITY NUMBER.. SC(148846
TRUST ACCOUNT FOR THE PEIUOD 15tAprll 2024 Yo 31st March 2025
INTROOUCTION
TRUST DEEL)
Wlll ol the lats John Milne. dited l April 2014 re815t¢red in tho 8ooks of Councl and Se3s1on on I
AugLst Z017
CURRENTTRU5TEES
BENEFICIARIES
Cancer Research UK
Charity Number.. 1089464
2 R•dman P ace, L4)ndon, E20 UQ
Brltish Heart Fouidatlo
Chority Number: 225971
Greater london Ilouse, 180 Hampstead RDsd. Londcn, NWI 7AW
PROFESSIONAL
ADVISERS
Rail4bones
50 George Square
Glasgtrw G2 IEH
Tclophor.é No., 014.1248 4311
Mes5r5 Irving Geddes WS
Soll¢ltors
25 Wcst Al8F street
Crlèff
Perthshire PH7 4AU
TelephDp.e Na.. 01764 653771

JOHN D MILNE'S CHARITABLE TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR 1st APRIL 2024 TO 31st MARCH 2025
Charit Name and Number
John D M Ilne's Charitable Trust
Scottish Charity Number SC048846
Princi
al Address
c/0 Irving Geddes WS
25 West High Street
Crieff
Perthshlre, PH7 4AU
Current Trustee5
Governln
Document
The Trust Is an unincorporated Trust constituted by the Will of the late John Duncan Milne, dated 2
April 2014 and recorded in the BoDks of Council and Session on l August 2017.
Professional Advlsers
Le
al Advisers
I rving Geddes WS Solicitors
25 West High Street
Crieff
Perthshire PH7 4AU
Investment Mana
Rathbones
George House
50 George square
Glasgow G2 IEH
ers
Inde
endent Examiner
Drummond Laurie Chartered Accountant5
Algo Business Centre
Glenearn Road
Perth PH2 ONJ

JOHN D MILNE'S CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT
FOR THE PERIOD FROM 1ST APRIL 2024 TO 31ST MARCH 2025
Histo
and Ob'ectives of the Trust
The Trust was established by the Will of the late John Du nc3 n Milne, dated 2 April 2014 and recorded in the
Books of Council and Session on l August 2017
The terms of the Trust d irect the Trustees to distribute the annual income of the Trust Fu nd to the nom inated
cha rita ble beneficiaries in such proportions as they may determine in their sole discretion.
The Trust was granted charitable status on 15 November 2018.
Recrultment and A olntment of Trustees
Trustees are assumed land resign) with the consent of the existing Trustees, under Sectlon 3 of the Trusts
Iscotlandl Act 1921 and Section 13 of the Law Reforrn IM i5cellaneous Provisions) Iscotla ndl Act 1990,
Trustees Remuneration Ex
enses and Transactions
Remuneration was paid to the Firm of Irving Geddes WS for legal services rendered during the period . David
Geddes is a Partner of the said Irving Gedde5 WS. Remuneration of £2,748 was paid to Me5srs Irving Geddes
WS during the period under review. No expense5 were paid to the Trustee5.
Review of Flnanclal Posltlon and Actlvitles Durin
the Year
The value of the investment portfolio decreased by 4.31% from £474,988 to £454,513 and in light of the
current economic situation, the Trustees a re satisf led with the f ina ncia I position at the year end.
The net Income generated enabled the Trustees to ma l<e tota I donatlons of £8,000 in the financial year under
review.
Investment Polic
& Performance
The Trustees have instructed Rathbones, to manage the Trust funds on a dlscretlonary basls. The Trustee5
have advised that they are prepared to accept a medium level of risk and Rathbones Stockbrokers are
Instructed to seek both capita l and income growth.
Poli
for Donations
The Trustees are guided by the wlshes of the Settlor in determining donations to be made. las Indlcated In the
Trust Deedl, In considering the extent of donations to be made, the Trustees donate a maximum total
a mount of the Trust's a n nual income receipts.

JOHN D MILNE'S CHARITABLE TRUST
TRUSTEES, ANNUAL REPORT
FOR THE PERIOD FROM 1ST APRIL 2024 TO 31ST MARCH 2025
Reserves Poll
The Trustees, policy is to disburse the whole of the net income in donations to utllise the free reserves in any
years of deficit.
Detlclt
There were no funds in deficit during the financia l yea r.
Donated Facillties and Servlces
There were no donated facilities or Services in thi5 f irna ncial yea r.
Plans for the Future
It is the Trustees, intention to continue making donatlons In a simllar way to thÈ recent past retalnlng
f lexibility on the scale of donations and restricting these to availa ble income.
Risk Mana
ement
The Trustees have consldered the rlsks to which the charity is exposed. These relate Sn the maln te
investment managernent and have been amellorated by the employment of an Investment manager. Another
risk to which the charity is exposed is fraud. However, the Trustees conslder the low level of donations made
by the charity reduces this risk. In additior), at least one of the Trustees will have some knowledge of any
chosen charitable body to which a donation is made. The Trustees also protett agalnst the risk of financial
misiranagement by the appointment of Solicitors, who are bound by the Law Society of Scotland Solicitors,
Accounts Rules in relation to their client monies, to carry out the day to day administration of the Trust in
compllance wlth regulatlons governlng cha rltles.
Approved by the Trustees and signed on theii behalf by
ee
rus
ee
Date.. L.la.2
Date:
4ojl.ls

Independent examlner's report to thè Trustees of
John D Milne's Charltsblo Trust
I report on the accounts of the charity for the period from 1st Aprll 2024 to 315t March 2025 which are set OLrt
on pages I to 7.
Respective r8spctyn51bilitles of trustees and examiner
The charity's Trustees are responsible for the prep8ration of the aciount5 in accordance with the terms of the
Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts Iscotlandl Regu latioiis 2006.
The charity's Tru5tee5 CDnslder that the audlt requirement of Regulation 10111{dl of the Accounts Regulatlon
does not apply. It Is rny responsibility to examine the accounts as requlred under Sectlon 44llllcl of the Act and
to state whethr*r partlcular matters have come to my attentlon,
Basis of independent examiner'5 Statement
My examination is carried out in accordance with Regulation 11 of the Charitie5 Accounts (Scotla nd} Regulatlon
2006. An exan)Irbatlon includes a revlew of the accountlng record5 kept by the charity and a comparison of the
accounts presented wlth those records. It also includes con51deration of any unusual terms or disclosures in the
accounts, and See￿ explanations from the Trustees concerning any such matters. The procedure5 undertaken
do no provide all the evidence that would be required in an audit and consequently I do not expre55 an audit
opinion on the view glven bythe accounts.
Indèpèndetrt examiner's Statement
In the course of rny examination, no matter has come to my attention:.
which 8ives me reasonable cause to bel ieve that in a ny material respect the requirements:
-to keep accounting records in accordance with section 44llllal of the 2005 Act and Regulatlon 4 of the 2006
Accounts Regu.ations, and
-to prepare accounts which accoid with the accounting records and comply wlth Regulation 9 of the 2006
Accounts Regulatlons
have not been met, or
2. to which, in rny opinion, attention should be drawn in Drder to enable a proper understanding of the
accounts to be reached.
For and on behalf of Drummond Laurie
Chartered Accountants
Algo Busine&s Centre
Glenearn Road
Perth PH2 ONJ
Date..

JOHN D MILNE'S CHARITABLE TRUST
TRUST ACCOUNT FOR THE YEAR 1ST APRIL 2024 TO 315T MARCH 2025
STATEMENT OF RECEIPTS AND PAYMENTS
RECEivfs
2025
2024
Re¢elpts from Investments
Dlvidends from UK Companies
Interest Income from Unit TrustlOEIC
Overseas Income
Bank Interest
4,353
1,830
4,307
631
4,947
2,360
3,363
225
11,120
10,895
Proceeds from sale of Investments
57,386
62,848
TOTAL RECEIPTS
68,506
73,743
PAYMENTS
Donations relatlnE dlrectly to charitable actlvltles
The Brit15h Heart Foundatlon
Cancer Research lu 1<1
4,000
4,000
4,000
4,000
8,000
8,000
Govemance costs
Messrs Irving Geddes, legal fees for previous year
per assessment by Law Accountant
Benchmark Law Accountant's Fee
Other Expenses
Independent examination fee
Investment management costs
2,748
138
3,300
166
300
4,363
15,549
288
4,113
15,867
Pur¢hase of Investments
49,8g3
60,078
TOTAL PAYMENT5
65,443
75,945
SURPLUSIDEFICIT FOR THE YEAR
3,063
12,2021
All funds are unrestrlcted
No remuneration or expenses were paid to the trustees during the period under review
Messrs Irving Gedde5 WS, a firm which the Trustees are partners
received £2,748 in respect of legal services rendered to the Trust

JOHN D MILNE'S CHARrrABLETRUST
TRUST ACCOUNT FOR THE YEAR 1st APRIL 2024 TO alst MARCH 2025
STATEMENT OF BALANCES AS ATYEAR END
2025
2024
BÈnk and cash in h?nd
Opening balances
Surplus/Deficit for year
14,616
3,063
16.818
12,202
Closln8 balances
17,679
14,616
Investments
Market value at start of year
Purchase of Investments
Sale of investments
Increase/ldecreasel in market value
474,988
456,266
49,893
60.078
157,386) 162,8481
112,983)
21,492
Market value at end of year
454,513
474.988
All funds are unrestricted
Approved bythe Trustees and signed on their behalf by
rus=ee
Date..
Date: