REGISTERED CHARITY NUMBER.. 219430 Re irt Df the Ttth$te*$ rihd FlnafftclRI St ¢ements for Ih Y r E de Farries Kirk & M¢Vean DuJnfri¢5 Enierprise Park Heaihhall Dumfries DUMFRIBSSHIRE DGI 3SJ Th¢ StA Itdon MtmorlAI Trust f the Fin tatemen15 the Yur Ended 30th Jun 202 PA8e Report of the Trust¢e5 Indep¢nd¢nt EA*mlntr'$ Report St#trmtnt of Flthancial Aclivitles BAEAnte Sheet Nole$ tD ihe Fin*htihl Stitemebts Detailed SIRternent ofFlth*nclal AcfSvitles Th Sts ledon MtmorlAI Tr ortoftheT lie YeHr ETrded Joth or Th¢ Iru51¢¢5 Pre￿￿1 their teport with lh¢ fin8n¢ig1 $iatemenlS ofihe charity for lh¢ yegr ended 30th June 2025. The tr5JStees have adopi¢d th¢ provi5i0ns of AGcounlin8 8Dd R¢porling by Charities., StalEmrnl of Recommcndcd Prami￿ uppliG4bl¢ io ¢h&ritiC5 prcparing Ih¢ir accounls in a¢¢ordance with the FinAnci&l R¢ponin@ Siandard applicable in the UK And Republic of IrelBnd (FRS 1021 letTr￿1¥¢ I January 20191. OBJECTIVES AND ACTIVITIE5 ObjecliYc5 ilm$ The objective orth¢ ¢harity is th¢ promotlon ot Agriculiural Rescgrch dnd Eduration in m¢TMry of the IY41¢ Sir G¢or8e Stspl¢don. by way of grant5 2nd fellowsliips by rcfer¢ntt lo the Trusi Deed documeni da￿d 29th Sepwmb¢r 1962. Thc procedure for th¢ sclulion of candidates for trrtvttlling ftllow5hips and thc &dmini5tTativ¢ 8rr4ngements in relation to th¢ hllowship5 follows a r¢vi¢w of lh¢ poli¢i¢5 of th¢ Trust. ioiiiated in Octob¢r 2004, which confiim¢d Ihai Ir8vclling fellow5hip5 would lh¢ principal fo¢v5 Of the TTUSt's chaTiiable aclivilics. Changes W¢TC propo5¢d impl¢mented following agrcrmttni at Ihe AGM in Dc¢cmber 2004.. 1&) f¢llow$hip5 would be open to applicants fvom Ihrou8houl ihc world. Ibl the UKllreland would be involved in all fellowship5 ¢ilh¢r ￿ lh¢ hosl lo a visit from overseas or ihrough a UKllrish &pplicJnl trnv¢lling overseas and {el appli¢ation5 for r¢llow5hips would be m￿C ty the Trusi through UKllrish organisation5. Al Ihe Irusi's AGM in 2009 in sub5¢qu¢nt yeirs. lurth¢r ¢onsideratlon wa5 given to providing oih¢r types of awardi pBrticularly Ihos¢ ihai bencfii youn8 scientists. Example5 include a va¢aiion bursary ￿herne liniroduced in 2010110 sUPPOrt undcrgruduatc SCi¢llli515 d recent gilldllaies during a short ptriod of work eXP¢Tien¢¢ 01 & university or in51iiuie research facilily. a¢iions to SUP5X)rt reeeni gradualc5 and youn8 8rassland s¢ienilsts developin8 Ihcir carecr5, such a5 grDllts for Masferclasses ai inlern8tion41 confcnncc5, or of spon$or$hip of the attendance of young sci¢ntls15 )¢ ini¢rnaiiollal ¢ODf¢r¢n¢¢% a3 well as support for short.t¢rm work experi¢nce and Iravel for rc5¢wch. Ai th¢ Trust's AGM in 2015 the inlrodutlion of an Innovation F¢llowship award 5¢h¢mg WH5 BppfovBd whith rummen¢ed l July 2016. The scheime sUPPOrts Individuals 10 und¢riak¢ sDJdi¢s of innovativ¢ prn¢iic¢s. $0 thai n¢w knowledge or Skills may be obillin¢d and applied 10 th¢ b¢n¢fit of Ihe 8fAssland and forage sector. Al lh¢ 2018 AQM th¢ rornmltt¢¢ T41ifi¢d wid¢niDg lh¢ 5¢holaYship3 remli to cover thc whole of lh¢ lJland of Ir¢lNDd both Js hos¢5 and granters. Publie beTr¢fit Th¢ Clihrliy TTuMe¢s have ¢omplied with (heir duiie5 10 have due regard ￿ Ihe guidance Provided by Ihe Chwity Commission on public benefit. Th¢ priorliy 10 focu5 the 'fTUSt'3 $UPPOrt 10 benelil young scientists is seen a8 enabliM8 the ncxi generation 015cl¢nti￿ 10 g4in valu8bl¢ knowledge Ihai will Icad to improvemenis in ihe efficiency of production of food and thc pro*¢tion and ¢nhancetn¢nl of the eTsvironmeffti. with bcncfits lo so¢i¢ty, not only in th¢ Brit15h Isle5 but alw throughoyt lh¢ w(krld. In particulur, Ihc Travrlling Fellowships lead lo the d¢velopmeni of ncw coniacts and training in new technique5 Ihai have potential for wide impact in th¢ Insiilut10129 and ¢ountri¢s of the Fellow5 conccrncd. The publicaiion of Fellows, rcport5 on th¢ Trust's websile also brings Ihc achicvcm¢niS of th¢ Fellows 10 & wide audien¢e. The MnfeT¢n¢es and oih¢r knowl¢d2¢ Iransfer ¢weni$.wpport¢d by the Trusi ¢n&bl¢ nAilon￿ and ini¢mational auihoriiies on imrxJrtani ¢urr¢nt 155u¢s relating lo gr85514nd and land usc to pr¢s¢nl l¢cture5 and inicract wilh 5tud¢nts. s¢ienlis1s, advis¢rs and farnK￿ d dIffe￿llt v¢nu¢$ in the UK. Thls 1$ an importsnt eontributlon to knowl¢d6e tTin$f¢r with wide potentl&l publ1¢ benefit. FINANCIAL RKVIKW Investment polley objective5 Thi5 rCportI￿8 pcriod rcflecis a CDlltinuin8 rv¢overy of incom¢ from invesirnenls as well as an improvement in Ih¢ir value. There was margingl increase of £5.598 compored lo an increase of £10.924 in the valuation of the Tru51'5 assets b¢lwccn th¢ 51arf and end of thi$ reporting pcriod. Th¢r¢ wa5 an improvcm¢nl of £3.441 in wtal ￿nU41 divid¢nd incorn¢ in Ihc y¢QT lo 30 Junr 2025. compartd with thE pieyiotss yeur. li Is the chaTItys pollcy 10 hold Inve$iments In order to generote sufficleni levels of incoine 10 cover futur¢ 8r4nts ynd fe51owships awarded. Tr Tru51¢es dccidcd al th¢ 2024 AGM lo mov¢ fund5 from M&0 Charibond and Ch&rifund intti ih¢ M&G Multi ASS￿ Fund EO Brow Ihc valu¢ of the inYt5tmenl portfolio. Thi$ o¢¢urrd in Januiry 2025 after whith dividtrtds were rtinvesied In Ihe ¥alue of the fund's units tathcr than as ¢￿h income. Page I St nmem rt of the Tru5t¢e YeAr Ended 30th Ju FINANCIALREVIEW Rtserves policy Th¢ Trusiee$ 5at13fi¢d thai the ch8rity'5 assets are available and adeqllate 10 fulfil 115 obligBiions. It 15 the policy of the Tru5te¢s to mBiniain sufficicni r¢5¢rves lo fulfil fuiurc obligation5 that may arise. The Trllsi 8cn¢ra*d interest and invcsimeni incoine of£34,981 in the yeoT£nded 30 Junc 202512024.. £31.3401. Fellowshi 024 CBrolTn¢ ILhmann. Edinburgh Boianic&l G2rden$ lo Yisil Univ¢rsiiy of Sydn¢y with & field trip 10 Cairns lo study pjsture ¢omposiiion 4nd ¢cology. É5.100 agreed bul subsequently deftrred due to PeY50nal issycs $0 monies weie ringfenccd for usc in future yeHrs. Hann&h Vtllin. UnsveT5ity of Ab¢rystvryth for a networking vi51tto Unlv¢TSity of Alberta Canada £4,000. d￿&te Provision was made of £6,000 for $iudentl8radua* awards and £7.000 for Innovation award5 in 2024125 btsi Mne wer¢ award¢d durin the year. The Tn]sl made av&ilabl¢ the following gran15 in 2024123.. £2,000 wL% confirncd for the 2025 Symposium of the European Gr&ssland fedcrnlioo Vnivcrsiiy of Readin& UK lo be piid to British Grassland Soci21y who wer¢ running Ihe congress. £1.300 was award¢d to thr Brilish Gra851and Society for ils 2025 summcr confer¢we. £1.500 awardcd for BSAS Annual Mecling 2025 to jointly sponsors wlth BGS 2 Rrassland ￿$s10Th$. Durin8 thc y¢Hr ¢nding 30 June 2025, lh¢ Tru51$ 10181 expendiiure wa5 £21,390 of which £13.704 w&% ¢haTliable cxpenditUTe. This representy 8 difference of +£13.391 1-£4.598. 20241 over incom¢ of £34,981. Other exp¢nditure in 2024-25 iotalled £7.B86. Th¢s in¢lu6cl the cost$ of secretarial 5ttvic¢3 Bnd expcnses IEJ,8551' exttminaiion of accoun15 (£6601. ond subscription to the AErl-Food Chariii¢s Partn¢rship1£4001. The Trum 15 noi VAT ffgi$tered. independent STRVCTURE. GOVERPIANCE AND MANAGEMENT Govtrnlng docum¢nt The SlJpl¢don memori￿ Trust rrh¢ Twtl 1$ govemed by its Trust D¢ed document dalc4J 28th September 1962. amendcd by Deed OF Variation dat¢d 16 June 2007. Trustees and Commlttte Mtmbership The list of Trusiecs 15 5Ct out bclow. The normal pro¢¢dur¢ followed Js Ihot new Trust¢¢$ new Commiiiee M¢mb¢T5 nloy be prop05cd at the Annu41 fjtner￿ Meeting. Prof M Gill untlnu¢s as Chair. Pag¢ 2 Tht Sti ledo emorifil Tr ort of the Trustees Rd dJOt 15 REFERENCEAND ADMINISTRATIVE DETAILS Regiittr¢d Charity number 21943 Prlnclp*l Addre51 o GES-CONSULTING 27 Brownin8s Mead Dunsford ExC￿r EX6 7JJ Tru$¢ Professor E M Gill S Pe¢1 Dr K Topp Professor C Thomas Ind¢ppndzn* EKAmintr F8rrics Kirk & M¢Vean Dumfri¢5 EnkTpfi5c Park H¢8ihhall Dumfries DUMFRIESSHIRE DGI 3SJ Banker$ Lloyd5 Bthnk Si James's Branch Lloyds Bank pl¢ PO Box 1000 BXI ILT CAF Bank Ltd 25 Kings Hill Av¢nue W¢51 MalliDg Kent ME1941Q Inv¢stment Managcrs M&G Chariii¢b PO Box 9038 ChBlmsford CM99 2XF Approvcd by ordcr of ihe board ef trusices on 4ih December 2025 and Signed on ils behalf by., Prol 5.2Q25Its.21IJgGMTI PTof¢55or E M Cill- Tru5tce P4gc 3 tnden The St oth ledfjn MEmorl*l Trtt51 Independent eARmlnor'$ report to the irusiees of Tbt StApledon m￿￿or1￿1 Tr￿st J rworl io the charity trustees on my exnmin&tion of Ilie accounts of The Stapledon Memorial Trust Idic Trust) for the y¢&T ¢nd¢d 30ih Jun¢ 2025. Rt4ponslbllltleg and bA¥ly ofr*port A5 lh¢ thèrity trustees of Ihc Tt7J5r you aT¢ rc5ponsible for thE prep&rrttion of thc fjccounts in aceoTd8nc¢ with th¢ requ7￿M¢nts of thB Chariti¢$ Aci 2011 (the ACVI. I rewrt ID rspecl ofmy exarnin81ion of the Tru5Vs H¢¢ounts ¢arried out under Secilon 143 of the Aci and in carrying oui my cxamination have followed all Dpplicable Dircctions given by the Charity Commi$sion under S¢ction 14515llb} of th¢ Act. Independent ¢xllmintr'$ 3tgternent I havc complelcd my cxominalion. I wnfiTrn that Do mrttedd M￿(cr9 have wmc 10 my att¢nuon in ¢onn¢ction wlih the expthilnaik)n giwinE mc caw lo believe thai in any malcrial respect,. a¢¢ounting rewrd5 were not kept in r