DICKRAN AND SETA OUZOUNIAN EDUCATIONAL TRUST Financial Statsments for the year ended 31 December 2025 DICKRAN AND SETA OUZOUNIAN EDUCATIONAL TRUST Officers and Advisers Goveming Document". Trust Deed Charity Reglstration No: 1195178 Er¥JlaNI & Wale& Main Office: Dic*ran aThJ Sda 0uzo￿lan Ed￿tK)nal Trust PO Box 7628 LorKk)n WIA 3YZ Trnstee5: IArG Ga￿lan Mr B P Guitthian (thaman) Administrator: Ms M ChTa)essdf 167 Aeet Street LoTrJ EC4A 2EA Investment Manager. 8 Finsbury CNcus EC2M 7AZ Bankers: Coutts & Q). Ltd Lot)Jon WC2R (X Indwntht Exaniner. Hovnan H￿n[ArtS(￿jrnlan BA FCA Hovnan & Co knmited Charter￿1 Accourtsnts 106 AshurEI RcBd Herts EN4 Contsnts: Tr￿ees. Arn￿1 Rewt lTrlyTrJent E￿mIr￿rS Rep)rt BdaThx Sheet 7-11 DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Trustees. Annual Report for the year ended 31 December 2025 The Trustees present tr*ir ann￿ rewrt aTrJ firBrnial statem&ts tr the year ended 31 December 2025. Tnjstees conffmi that the annual rewrt a￿1 finarrial statements of the Charity C￿npty wrth the cuThent stalutory requ￿￿npJts, the requirements of the Chartvs goveming dcuEmwt and the wow￿10￿ of tFE Stat￿ent of ReA￿lmenda￿ Practice (SORP}, applicable to chartb&s pwaring their wjurts in with the Fina￿la] Reporting Standard appI￿le in the UK and Ro￿t41C of Ireland (FRS 102) effthe 1 January 2019. Objecllves The otj'ect of the Tr￿t is fhe th￿ment d educalicm in the Ll( Amwi￿n sbjdents from anwthern in the bv)rfd the furtherar￿e of in music aThJ the arL8. To fu￿1 the Trusys c4gANes, the Trust￿ offer fft to stlthts d Affl￿nIan ￿rgin stltying in the UK. Public Benefit The Trustees have referred to the gLidarKt o)ntaineJ in the Chanty Cc¥Mii5sM?n's general guidan￿ on publ￿ benefft vthen reviebmng the Ttusts awns and Ltli￿NeS arnl in ￿annIng future activtties. The grants made during the year have ￿effted pUb￿C in the further edwation of Amenian students sWirvJ in the UK A¢hievements In year Cinduding financial revie*) When the budget was first srt the Trustees awarded £82,725 to 19 students. the academic year was ￿￿jeA¥aY. Ihree St￿￿ents withdrew their dawn to their grant l-£7k in tota]). Consequendy, the aclual vaue (rf sclK4atshp grants disbursed during the period was £75.725 to 16 sttKJents (2024: £75.725 to 15 st￿￿ents) St￿tying at variOL￿ unNerstti&s li the UK. 8 of the 16 beneficiar￿ We￿ ￿$ting rene•val apFlicants wlwle the Wnair￿ru 8 were new. Individua grants rarged frorn £1.OLt) to £8,(M)O sludent. As they had don• during Ihe prior year, the TrnL8teas o)nlinued to qUeSt￿n Rathb￿es, tha inv@slment m8nagers. on tr* reastyE for the ccrtinLif¥J F￿or Ferf¢)nrO￿6 of the asset p)rtfol￿. TW rnised their cortem rot SUThOLmdr¥J the ￿tUal perfDmi*re, slthich ccukj paruy be ex[Aair￿d by ongcirvJ markd vol8tiSty, txrt also RathI￿nes. perforn￿r￿ r*tive to trEir peeFS. During the pericxl, the were presented by Rathbcfias %Mth an altemative investrnent option wh￿h was dE(x￿sed in detail. On ￿nsid￿1ng the vari(xts wnplications and fijrther advice from Tru5Vs indepeTrJ&tt finarKial a(fvrA)r, th8 Ttustees cfrted fcf the a￿eMthe apF1O￿h. This invdv&l swrtthing frC￿ a teSF(*e asset FKthio to a w ve￿￿)n of Rathbones, Core Fund for chariknes.. the C*arity Auth￿￿ IrNeslnth Fur*J {G41FI. Based on the Tru5Vs requirements adV￿e prcwhjgj by brAh RatN)(Ths arKI ttr* T￿￿t'S Inde￿ndent financÉa afvisor. the Tntstees (Wed for the CAIF PortfdK) Fl'sk Level 4.. m&Jium risk toleran￿, suilatrAe fLY investc¥s wilh a 6-10 ￿ time ￿)rizOn and the (2parity to tderate a tempordry rx, sometimes, ￿n￿anent ktss. The investment objective Select￿ was Balanced: designed to projuce gro¥th in bcth capital and inc(xne, athit at a lower level than might LE achiev￿1 rf capital gr0￿h LY iThxYne alL￿e is Ihe pric￿ty. The rx)rtrdio remair6 under discretionary mana3en*nL Ttust's i￿￿ne consists so* of d￿Vje￿jS arnj capta gThrth of the investrnert portfolo V￿th minor contributions frcm interest bank deF4)sits. the was taken to swtch to th6 CAIF. the vast majority of previou5ty hdd s￿lI￿eS vEre s¢Jkl. The sale of securities during the year led to ￿ overal capital gain of £80k, c1Jllpa￿d to £14k duriT¥J the prior year. B8sides a small pr￿t￿n of c&h in the Trusvs tA3nk ￿)unt, asset p)rtfolio represents tre vast majority of the cai¥ta, C￿ Trust FuTrJ. Takir4J into ￿lUnt al income. gains ￿)d QX￿nd￿jre, the Tn￿t Fund grewjust over 2.1% to £2.88 m1￿c￿ (￿24. £2A1 million) duriNJ the yeai. DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Trustees. Annual Report for the year ended 31 December 2025 FdbwrvJ a tfansfer cl funds frc(n the EXp￿d8￿￿e End0￿￿ent agreed by the Trustees, the Unreslricted Fur￿ began the at ztto ended £37k in the r￿1(2024. £17k in the red). lie it was hcyed that the ouUoc4( vrtyjkl imwove. this Outc￿ was not vthcAty unexpected. The Trustees are c(rtnmiited to supp)rting e￿tir￿j L￿nef￿[.ary stLhYents by renewing their grants unti the ccfflpletic￿ of th￿r doJree Ll)U￿e. and have oT￿e again to transfer the n￿ary funds trcm the ExpEndatAe En(￿)￿nent to the Unr&Stii¢￿j FuThl StrU￿re, Governanee and Management The Chanty is govemEYJ by a Trust Deed in Settl￿rent ￿19￿1 by t￿ late Dick Haig and Seta Ouzounian 24th November 1998. The Tr￿t E an Un1￿X)r￿￿t9d asscLiation administer&d by I￿? Trusiees and Or￿ athministrator as rpmgj on ￿ officets pwJe. Both the T￿￿t￿ seNe on a voluntw basis recave m e￿rtses. No staff are ojrrenty employ&J by the TntsL The ajministrator ￿ FHd. Inves1ment Policy The cl the Ch*ty have wide FOWS to investthe morues of the Chrity as they think fiL They are advis￿ C￿ investm&tt mattern by W￿l￿￿ter Weath Management LLP, who are I by the Tnth8tees' guIdar￿e (m r4U1￿ments aThJ risk. The Trusvs investrnent portfclio is PTofessionaMy Manag￿ by Rathtr￿￿ Invesknent ManwJemenL The cJJrrent portfdio i% inv&sted wÉdely in terms (rf asset dass, asset manager security and on a globd basis. The Charity seeks to w(Klu(E the fin￿la1 rdum within ￿ acceptalje level of rtsk It ad(yts a total retum appnach to investmenL ￿eratIng Investrn￿ retum from inccffie and ca￿tal gains or Ic6ses. It is exFXt8J ttst rf in any one year ts tota retum is ￿ul￿1￿t to meet the budgeted grant4m*ing expenditure. in the lor¥J temi ts rea value of the Chaiity will still be maintain&J. To all￿ for volaldty of ￿lYt81 Va￿S. the Trustees wnf( the rn￿ager to maintatn at least one yearfs vh)rth of wed grwrt in c*h or l¢xer rtsk liquhl investsrents. Reserves Pollcy In terms of CharÉty Law. the Trust Fund is an exper#Jab￿ O￿lOw￿nt Injstees therefore have a duty to SFeThJ the I￿orne ￿serVes generat￿ frcffi the Tntst Fund wTrthin a reasonable time of re￿￿)1. Hwever. sctK)IarSh￿ to new bwefriaries are awarded on basis that a student be suppxted for e&h year cl their dgjree COu￿e, sLbI￿t to cwlain c£ndilions ￿ng met. Ther￿0￿, in ary partrular year, finarria C￿d((lOr6 pemiitting, the trust98s will aim to maintain sufficEnt fund5 ill the r￿Ve$ to c£Thrthsate for a FxAentral drcp in irwme in the years suIMquent to eth new The Tntst Fund consists sddy of the orwJina (aFNtai and catxta gainsAoss&s. Investrnerrt inwme is held in the urwestrVX￿ Funds. In I￿g tern, the Tnjstees wll aim to keep charitable speTrJing in net itKcffle, 81though tw do th8 tx)wer to Sp￿K1 the caprtal of tha furtd on charitaNe pUrF￿ rf they so detemiine. The Tn6tees are aware that it thl be d￿￿Ul1 futfii tt* l0Th34em aim in the short tenn. due to ong)irwJ market vdatilty arHI the generally uncetsin ￿0￿Mm￿lc dwnat& Risk Reviow The Trustees have hdentified and ass￿￿} the maTr)r rrsks to the Charity exposed, in parbcular those rdated to the op￿ion fir￿n￿ of the (*arity. They are satisfied that ttr ChaTTty'S exposure to these risks is at an Wtle level. Trustees are able k) trAerate vdaffity of the (ztita wdhje d the Ckwity, Icfftg as the Charity is able to m*t ils sFK)rt4ern grant-ma(ing CLYnmiknwts through ￿ther ir￿orne or ￿quid capit818ssets. Accordiry to a bulletin the Tntsvs investsn￿tt manager, the World EcotK)mic Forum's Global Risks RerJ)rt 2026 highluhts a of growng U￿ertanty. The Report stat that instabilty is now a defining feature gl(*)a outt(L*. DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Trustees. Annual Report for the year ended 31 December 2025 Going Concem The Twstee5 have a ￿asona1￿e eXp&￿all)n that the Charfty adequate to be operational for the foreSeea￿e future. For thk8 rea￿1 wll adq)t the gung c0￿M basis in prepaFtr¥J the finar￿1￿ statements. Fuknre Plans The Twst intends to ccrtinue its (￿ra1 pcAry OF di8trrbuting al ir￿orne r&re1v￿ to eligible beneffciaries in th8 fomi of grants tn vrfth the tenns of Trust Deed. Responsibilities of Tn￿teeS The Trustees are reskK)nsible for preF￿ring th8 Tr￿ee$. Anrwa Report arKI the financi statements in vthh appluue law and UnitgJ Ki)gth￿ AcrAwnting Standards (United lQngdom General￿ AC￿[￿￿ Ac(x)unting The Law applica￿e to charitie5 in En￿and and Wdes requires t1￿ Trustees to prepatE statements for financial year. Under that law the Trustees have to prepare the fir￿￿al statemerts in aCCordar￿e with Unrt Kingdom Ger*r31￿ AcceFrted A￿￿tIng P￿￿ce (United G￿erallY Accepted Accounting Practice aThJ applica￿ lawl. UtKler (*tariiy law the Trustee5 must approve the nancial statements unless they are Satisf￿ Ihat they give a Iw8 and fair view of the stats of affairs of Charity and of its resouw arKI awltst#)n of resourrx f(￿that pericKI. In pwaring fina[￿la1 st*ements the Tnstees we wul￿d to: ' selttt suitable a￿￿ntiThJ pdicies ttEn aFply them coElst&tt￿,. ' observe the methjds and princaples in the Charibes SORP" ' make judgements and aCCA)￿ling estimates that are rea$￿ab￿ wudent.. ' slate whether ap ￿lcable ￿cl)Jnting standards have iwi fdlov+Ed, Subj￿ to any material departures di8dosed arKI eWain8J in the stalements., aTr prepare the fina￿la1 statenErts on the g￿ThJ cOr￿M basis unless it inaFpropriate to pwume that the Charity w511 c(ntinue in 0wati￿. Trustees are re5FK)rsible for keeping prO￿r ￿￿ntIng recotyjs that disdose wilh reaSona￿e ac¢urdCy at any time the )Inarrial ￿￿111)n of the Charity and enable them to 8n5ure that the fina￿4a1 slatements ojmpty ¥￿th the Chaiiti&s Act 2011, as amended by the Charities Act 2022, the Chanty (Aco)unts a￿1 Rep(¥ts} ReguLgtw)rts 21J08 and the WCNisions OF the chari￿5 tFUSt deed. They arB also resFWJLqitle for safeguaftling the assets of the Char"ty and henc£ for taking reasonabk ster6 forthe Frne￿i(￿ a￿] <￿t￿lOn crffrdud aKI rther Irrag￿anti8S. Approv￿1 by the Trustees on 17 Tunl 20 and sign* on behalf of Bo&d fpa B P Gulbenkian Trustee- Chairperson DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Independent examlnefs report to the trustees of Dickran and Seta Ouzounian Educational Trust l report on 1he accounts ofthe TNst forthe sear en￿ 31 Decanb8r ￿25, vknich are set out on pages 5t011. Res￿11¥¢ responslbllities of trustees and èxamlner The tharivs tnBtee¥ are re￿￿tr11e for Prepa￿#￿ ￿ the w￿nts. Tr thaTty's trustees 0￿$￿1er thal an audit is not for this year urKler Sects￿ 144(2) of th8 Chaths Pd 2011 llhe Charilks Acf) that an inde￿￿K1￿# examinatrin ig wjed. t is my yes￿nsI)lIty tr): examlie the acx)xnts Unders￿)￿ 145 ofthe In folow the pffK£dures •i Ihe gmal CireL*Dns gNEn byts Charty C*ymiissK)n (under se(kn 145(5Xb) ofthe CharitEs kn( and Basis of1ndo￿nd•nteXam1n0rfS repwt My examinatM)n was (atTied (xjt in aCG0rdan￿ ￿th gerErdl Directions gwen by the Charty Commisswjn. An eYAminatiw •idudes 8 review of the aCC￿lti￿a reco￿$ kept by the charity and a ¢cfftparison ofthe acwunts present￿ ￿ ttrL)se re(ords. It inthdes ￿ns￿leratIOn of any unusual items or di8dosures in the accounts, aThJ seekyig eyplanaknns from the trusiees ￿nI*m￿7g any such matters. The prO￿dureS Imdertaken do rKIt provide all the ev1jen￿ that would be r8qUI￿ in an aud and cOnsequen￿Y r¥) c4)inrJn is given as to whether the acownts pre*ni a 'true and fairf view the report is limrtgj to tha%e matters *t oui in thè slatement tdow. Irmlepondgnt gxamirnrfs statem#nl In connecton wilh my ex8minatK•n, rv) material mattars have to my attention gtves me ause to beI￿ve thal vi any material res th6 ac￿u￿ty￿ reojrds V•Ere not ke￿ in aco)rdan(* with sectw)n 130 of the Charties Act.. or the accounts dKI not acajrd wth the at￿￿tir￿j r￿OrdS. or the accouftts dK1 not C￿lp￿ with the applt(abte ￿quirements cOn￿mm9 the fDmi and content of accounts set cmjt ￿ Ihe Charitie5 (Accwnts and ReFK>rts) Regulati)n$ 2008 other th8n any requirement that the 8ccx)unts give a 'tnJe arbj fairf vtew whith is not a matter wnsKJered as part of an irKlependwt ey2minatKn. I have no Con￿M$ aFKI have C￿ acros5 no other mattets in o)nnection I￿1h the examinati)n to vknich attention thould be drdvffl in Ihis Tewrt n 0￿r to ￿8b18 a proper wlerstanding of 8(munts to be re8th￿l. H Hampartsoumlan BA FCA Hovnan & Co Llmlted Charterpd A¢¢ounlants 106 Ashurst Road. Co¢ktostef5. 8amèl Her15. EN4 9LG Date: DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Statement of Financial Activities for the yaar ended 31 December 2025 Ur￿￿trICted Endowm•rt T¢)tal Unrestricted Endowment Funds Funds Funds Funds Funds 2025 2025 2025 2024 2024 Totsl Funds 2024 Income and endowments from.. Investment irKome Other 9).393 70,112 123 70.112 123 Total in¢m 50.400 50,400 7Q235 70.235 Expendi￿re on: Cost of raising funds Chaiitable aclivthe5 23.￿0 219JO 87,512 27.264 27,264 87,471 87.512 87.471 Total expenditurn 87,512 21990 111,502 87.471 27,264 114,735 Net incomthl (expendI￿re) before inv85trnent galn51(105ses) (37,112) (21990) (61.102) (17,236) (27,264) (4é500> Net gainloosses) on Investments Realised gains10￿) on investments Unreaised g&nsl (loss) on inveStm￿ts 79.520 79.520 13.626 13,626 41.228 41,228 138,262 138,262 Net incomel {expendi￿re) Transfers ￿e￿een funds {37.112) 9Q758 (17.236) 124624 107.388 37.112 (37.112) 17,236 117,2361 Not movement In funds Balance brought forward al 31 Dec 2024 646 4646 107,388 107.388 2.815,774 2.815.TT4 2.7Ck8,386 2.7CI8,386 Balance canied foThvard at 31 Dg 2025 12.13 2,87&420 875 2,815,TT4 2 815 774 ContinuirnJ oparatitx None of thg Trusvs ac1wit￿S a(4uired ordEAxMtnL*d duriu ts ojrrent ￿r￿￿J. Tolal wecognlsèd gakns and losses The has reojgnked gains or bsses otsr Ihan lh8 gal￿ or bs5e5fDrlhe pthl. Thè notes cffl pages 7 to 11 form partoflhese f￿￿claI Stat￿$. DICKRAN AND SETA OUZOUNIAN EDUCATIONAL TRUST Balance sheet as at 31 December 2025 31.112025 31.112024 F￿ed assets Invesknwts 2.8&3.922 2.810,330 2,883,922 2.810,330 Current assets Cash at bank DekAo 9.953 15,655 1,016 9.953 16,671 Ualjilities: Amcyjnts falling wilhii orE y￿r Net Current assets 18.455 11,227 I&W21 Totsl ¥sgts less ¢umt liabililios 2.875,420 2,815,774 Repres&rt&J by: Endo￿nent funds Unrestrided funds 12.13 12.13 2.875.420 2,815,774 Total Funds 2,878420 2.815,774 Apvrov￿ arKI auth￿ised f(x issue tty the TrLBtees ( ITr 2026 aThJ on its F￿halF. B P Gulbonkian Trnstee- Chairper50n n(tss Ln Pa3es 7 to 11 foTm part of these final￿￿1 staierneTrts. DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notès to the financial statemerts for the year ended 31 December 2025 ACCOUPtnNG POUCIES (a) Accounting convonlion The fin8nry￿ statements are wepared in ￿C(￿dance wth the Statement of R9comn*ThJed Pwlice°Accowling arKI ReWng by Charities" weparirvj their awounts in aC￿rdance with FI￿n￿al RepoiliThJ Stsndard appI￿able in the UK and Republ￿ of Ireland IFRS 102) issued on 16 Juty 2014 and Fina￿￿￿ Repjrting Standard applicable in the United I￿n￿10M and ReWl4￿ of Ireland (FRS 102) and Charities Act 2011 as amend￿ by the Charitt&s Act 2￿22. Exwnpb(N) been tak￿ from preparing a cash l]ow statement under 'S￿tiOn 7 Stat￿￿ent of Cash Flow3. as Fermitted by FRS 102 on the 9￿Un[ts Ihat the Tnjst qudifies as a smal ￿tty. The accounts hwe been prepwj urnlerlhe h￿tor￿ cc6t conventicffi. Ib) Donations, legacies and similar incoming resources DOnat￿nS. legaa85 and similar irmnirvJ resour￿ are rwnised ￿ce the charity has entrdement lo the irmne. there is SLE￿1￿nt ￿rtaInty of ￿pt and so it is probable that i￿￿70 will ￿ ￿1ved, aThJ the vakje of i1￿ne can be M￿sL￿6d reliably. InveslJnent income 1￿me from investm￿ts 15 IT￿1￿ in the statèrrRnt of aJivitr6s ￿ the year in which f( is weivat4e. (c) Id) Cost of raising funds The mst of generating fijnts co￿lsts of Ir￿￿ert m￿ag￿ certain legal prthior¢l fees tharged on an &Xn￿lS basis i￿1￿￿ng VAT. Ie) Charitsble xlivilies The expenditure on charit*e *Nibes inciJt*s g￿ts made. g0Vemar￿ c(tsts and support cc6ts. Indud&l Imthin thi5 categ)ry are cx6ts asS￿late￿ hwth the IndeP￿￿ent examinati(n. and ¢itsts (rf C(￿p￿ng wth ￿nStitUti[￿al statLrtory requirem￿. ifj Grants ApFAicatKJns for ￿ants are c(xtsidwed ty Trustees. They are *LcxJnted for on an npls basis the Ilird paty has a re&wnatAe eXpeCtat￿n that they wll receive the grant. Priorty gwen by the Trustees to undergraduate Stud￿ts students pursuing other qualFr￿tI0rts in the field of and Ihe arts are also considered. (g) Fixed asset In￿SIm￿nts Inv8strnents are induded ai mart(et Val￿ at Ihe sheet date. Any g￿n or loss on revaluation is taken to the Statemert of F￿ta￿la1 Activit (h) Foreign Curre Foreon CUTrery tran$￿ti￿ we tran￿ated into sterfing at the excharYJe rate ruling at date of the trartsacti￿. mc￿etsry assets a￿1 lialilities derKffiinatod in foreign Jrrencies are trarElated at the Yate of exchar¥Je ruling at the balar￿ sheet date. All exthange ditferer¥x are taen to the StateJn&tt Finar¥ial Ac*vtties ri) Funds Unrestricted fuFKts are th(￿e general knds r￿eNed ulilised in furtIwar￿e of the obj&ts of tFE charity. FuThJs W￿re caiitsl is hdd to ￿￿Tate inc￿ne for charitatrAe purpcEes are 8c£ounled for &5 er¥Jownent fwKls. ￿ tern￿ dthe endOwn￿nt all(M the DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notes to the financial statements for the year ended 31 December 2025 caytal of the fiJTrJ to be SFett rm ￿ f￿th￿a￿e crf the charity's WTF(64s rf th8 trustees so detemiine, the [￿d is therefore w￿nted for a5 ￿ expendable endthvment. Taxation pollcy The tharity is a re98t￿ed Ch￿ and exemrA frun Ir￿ome, o)ry)oration tax a￿1 c2pital ga￿￿ tax where Ihe iTh))rne and gans are forcharitable purpc6es. Inveslment income Totsl Unrestricted Endowment Total Fund Fund Funds Fund Furnl Funds 31.122025 31.1Z2025 31.112025 31.1Z2W24 31.112024 31.122024 17,702 UK equities UK fixed interest securities UK altematw&8 Overseas equÉbes C￿e￿eaS fixed int￿t securities Interest on cash dgwsts 11372 12.372 17,702 7,744 7.793 19.K27 7.744 7.793 19,K27 13.644 10.835 24,634 13.644 10.835 24.634 313 313 1282 1,282 2,015 2,015 50.393 50,393 70.112 70.112 Cost of rnlslng funds Total Unrestricted Endowment Fund Funds Fund Fund Funds 31.1Z2025 31.122025 31.112024 31.112024 31.12.2024 Fund 31.112025 management 16.￿2 16. 20,237 20,237 FInar￿tal advisorfees 7.027 7.027 23.99) 23, 27.264 27.264 Grants Total Fund Funds 31.112024 31.12.2Q24 Fund 31.122025 Fund Funds 31.112025 31.112025 Fund 31.12.2024 University scholarsliF6 75,725 75.725 75.T25 75.725 75,725 75.725 75.725 75,725 DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notss to the financial ststements for the year ended 31 Docember 2025 EXpendI￿re on ¢havitable actlvlllas Trtal Unrestrlctod ErKlthvment Total Fund Funds Fund Fund Funds 31.1Z21Y25 31.1Z2(r25 31.112024 31.112024 31.122024 Fund 31.112025 Grants {N()te 4) Admin and accounlancy Independent Examiner offi￿ expertse 75,725 75,725 75,725 75.725 8,7 8.750 8,7￿j 8,7&) 2.412 625 2.412 625 2,412 2.412 87.512 87.512 87.471 87,471 Fixed assets inveslments )25 2024 Market value at 1 January 2￿5 Additions DisposaLs (at opEning market value) Net unrealised {thsY￿ Net movement of cash held 7hithin portfolo 2.810,330 2.705.193 3.228.551 875.313 (3.124,￿5} (922.0￿) 41,228 138.262 (71.e821 13,652 Marf nwnber of duriEVJ the yearw&8'. 11. Fund Trdnsfers DurirwJ the p8riod the trustees exercised their power to convert £37,112 P024: £17,236) from the extE￿a￿e etNlowment fL￿d lo I￿ome to be stEnt on the furtherdrre of the charity'5 purix6es. 10 DICKRAN AND SEfA OUZOUNIAN EDUCATIONAL TRUST Notes to the financlal sL1tements for the year ended 31 December 2025 12. Analysls of Charitable Funds Balance Share of Net Inc(xne Balanc9 Grants Gainsl at Paid Tmsfers ILosses} 31.12.25 1.1.2025 Funds Expendatle Endowment 2.815.774 Unrestricted Fund Total Funds (23,99)) 38.613 (37.112) 120,748 2,875,420 37.112 2.815,T14 5.725 120 748 1875.420 The ￿￿[￿ndable vra5 estknlIsh￿ in 2021 by bequ8St from the late Dickran and Seta Ouz(MJnian creating fuThJ of the Dthan arKI Seta Ouzounian Educati(￿al TnEL The Trustees have the F￿)￿Er to ￿r￿j Ihe capital of the fund on the furtheran￿ rflhe tharitys PUfFKtses. 13. Anatysi$ of Funds by Assets and Uabllities Unrestrfcted Endowme Funds Funds 2025 2025 Total Unrestrlcted End¢)wmerrt Fur)ds Funds Funds 2025 2024 2024 Totsl Funds 2024 2,893.875 2,893,875 (18.455) {18.455) 187&420 Z875A20 2,827,(K11 2,827.001 111.227) (11.2271 1815,T14 2,815,774 abilities 11