CONSTANCE PATERSON CHARITABLE FOUNDATION REGISTERED CHARITY NO.. 249556 FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 CONSTANCE PATERSON CHARITABLE FOUNDATION CONTENTS Pag• Trustee's Report Independent Ex8minerfs ReKK)rt Slalemenl of Financial Activities Balance Sheet Notes lo the financlal slalemenls 7-10 CONSTANCE PATERSON CHARITABLE FOUNDATION TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustee presents its annual report and financial sialements ol ihe charity for the year ended S April 2025. The financial statements comply with the Charities Act 2011 and Accounbng and Reporting by Charities.. Statement of Recommended Praetice applicable to eJ)ants"es leffectsve 1 January 20191 p￿pAring their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (Charities SORPIFRS102IISecond Edilionll. Refer?nce and Administratiw Dotsils ConstitutSon C￿)stance Patèrson Charilablè Foundation is a règistèrèd charity governed by a Sethemenl Deed dated 3 August 1966 Charity Number.. 249556 Rogistered Offic• The Administrator The Scalpel, 18th Floor, 52 Lime Streel, London EC3M 7AF Bankèr Union Bancaire Prive8 IUKI Limited One Bank Street, C8nary Wharf, London E14 4SG 8ank•rs and Inv•sthi•nt Manag•rs Sara5in & Partnè Juxon House, 100 Sl. Paul's Churchyard. London EC4M 6BU In(J•p•nd•nt Ex•mln•rs Kres(on Reeves LLP Samantha Rouse FCCA OChA, 37 St Margaret'5 Street, Canlerbury, Kent CT1 2TU TTu$t¢¢ Dlr•¢torn JTC Trust and Fiduciary Services IUKI Limtted Rachel 118s GgorgÈ Ryan David Bromley On 31 March 2025 the legal name ol tha corrK)rate truste6 changed from SG Kleit)wort Hambros Trust Company IUKI Limited lo Kleinwort Hambros Trust Company IUKI Limited. On 25 November 2025 the legal name and regislered address of the corporate Iruslee changed from Kleinwort Hambros Trust Company IUKI Limited of One Bank Street, Canary Wharf, London E14 4SG to JTC Trust and Fiduciary Service IUKI Limited of The Scalpel. 18th Floor, 52 Lime Street, London EC3M 7AF. Structur•. Gov•rnanc• and Manag•m•nt The objects of the charity are to promole and support such chariiable purpose or purposes, and such charitable organisation or organisations (being purposes and organisations whi¢h are ex¢lu$ively Charitable a¢¢ording to thtr law of England) as the Trustee shall from time to time in its discretion decide. The Trust is a registered charity under Charity Commission reference number 249556_ The foundation was established by Miss Constance Anna Patèrson by a Deed of Trust dated 3rd August 1966. Upon the death of the settlor in 1986 the assets of her eslale passed to the foundalion. The Trust fund is held to benefit such chantsble purposes 85 the Trustee in ts absolute discretion think fit. although during her lifetime Miss Paterson gave the Trustee guidelines as io how she would like lo see such discretion exerased. The Trustee seeks to make thes8 distributions On￿ a year. CONSTANCE PATERSON CHARITABLE FOUNDATION TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 Grant making poli¢y The Trustee's current policy is to consider all vKitten appeals received, but only successful applicants are notified of the Trustee's decision. The Trust funij is held to benefit such charitable purposes a5 the Trustee in its absolute discretion thinks lit, with particular 8mphasis on charities in South East Scotland. the aged particularly thosè housing vulnerable dder people, children, health, health in developing countries and animal welfare. The Trustee nll make donations on¢è 8 year. Appli(%tions wll not be a¢kno￿e(l9ed. The Trustee reviews the selected charilies. and considers new appeals received at their annual Truslee meeting, nomially held in July. Appointment of Trustee's and charity organisation The charity is managed and administered by the cofrK)rate Twstee. JTC Trust and Fidudary Servl¢e$ IUKI Llmited. which was appointed under the ternis ol Ihe Trusl Deed. Financial review and investment policy The financial statements covèr all thè activities of th& Charity during the year. Gross income totsllgd £51,549.78 1£50,277.02 in 20241. Under the goveming document. there are no restrictions on the charitys power to invest. The overall invg$tmenl policy 1$ lo achieve IIx)g Iwm capitsl growth in ￿al lems. The unrestricled funds a15 April 2025 was £1,776,915.911£1,820,842.23 in 20241. The financial 5talemen15 show the inveslmenls al markel value. In the year ended 5 April 2025 the unrealised loss amounted to £35,549.00 (Gain of £112,$73.00 in 20241. R•vl•w of th• actlvStS•8 and futur• d•v•lopm•nts Tho Trusloe is saiisfied with Ihts linan¢ial ptssition ol U)e Charity and ￿nfiM1$ thal il has adequate 8ssel8 available to fulfil its obligations. There are no plans to alter th8 charrtls activitses next year. CharltV8 publle b•n•fit The Trustee has ensured that all activities throughoul the period have been for the public benefit. This 15 evidenced by the contributions made to individuals and institutions totalling £48,000.001£46,750.00 in 20241. The Trustee conflrms (hat it has refeThed lo ihe guidance contained in the Charity Commisslon's general guidance on public benefit when reviewing the charilY5 aims and objectives and in planning future activities. Re8erve¥ poll¢y It is the Trustee's intention to maintain an Un￿striCted fund at least equivalent to the historic cost ol investments. together with a small cash balance of income. parlly lo offsel any fluctualion in investrnent income in future periods and to ènable them to continue their wAicy of resFx>nding quid(ly to appeals ft)r significant support where appropriate, the timing ol which is unprediclable. All funds are held on an unrestricte(I b83i5. 11 is the FNJicy of the Trustee to donate 811 incorne to fvrther th8 objects of the trust. Rlsk Manag•m•nt The Trustee 15 aware of the major slrategic. busine55 and operational risks to which the charity is exposed and th8s8 arè reviawed r6gul8rly. Th8 Trustèè is sats"sfied that adèquatè pr(￿dur&S are in pl8Ce to mth'gatè axposurè to these risks, although it is recognised thal systems can only provide reasonable, Th)t absolute, assurance. They hav8 id*nttfied the follo￿n9 risk$". Risk identified Investments will drop in value Aclion laken to miti ate the risk - Trustee has appointed a professional firni to manage the investments. CONSTANCE PATERSON CHARITABLE FOUNDATION TRUSTEE'S REPORT FOR THE YEAR ENDED S APRIL 2025 Donations wll not be spent as the Trustee would like - Trustee actively ￿vIewS the donations and ask for updates and reports Going Concern The Trustee is of the opinion thal the tharily has adequate ￿sOurceS to continue in operational existence for the foreseeable future. Fundralslng The Trust does nol undertake any fundraising activib'es. Trustee's responsibilities in relation to the financial ststements The Trustee is responsible lor preparing a Trustee's Report and financial statements in accordance with applicable law and United Kingdom Accountsng Standards (United Kirodom Generally Accepted Accounting Practice). 11 is a requiremenl for thè Trustee lo prepare financial $18tements for 88ch financial ytrar which giv8 a Irua 8nd fair view of ihe slate ol affairs ol the Tnjst as at the balance sheet date and of its income and gxpenditure for the financial ye8r. In preparing those financial stalements, the Trusiee is required to.. select suitablè accounting policies and then apply them Consislently; observe th8 mèthods and principlès in the applicablè Charitiès SORP., make judgements and eslimal¥s that aw r¢asonabl8 and pwdent; - state whether applicable accounting standards have been followe(1. subject lo any material dep8rturès that must b8 disclosed and explained in the financial $talemenls', prepare the financial sl8lements on the going concern basis unless 1115 inappropriate lo presume that the charity will continue in busingss. The Trustee Is responsible for keeplng proper accounting recor(1s that disdo$e with ￿8$onable 8ccur8Cy 8t any time the financial position of the charity and lo enable them lo ensure thal th& financial statements comply vAth the Charities Act 2011, the applicable Charilie5 (Accounts and Reports) Regulations. and the provisions of the Trust Oged. Thg Trusiee is also responsiblè l(x salegu8rding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Digital signed by.. R8chel ILES Dale." 2026. 01.27 17".22: 51Z DKJiialty 24ned by." Brad￿Y Walden Date". 2026.01. 28 09..54..56 Z JTC Trust and Fiduciary Seryices IUKI Limitsd CONSTANCE PATERSON CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT I report on the financial statements of the charity for the year ended 5 April 2025 which are set out on pages 5 to 10. R8spectlv8 r•sponslbllltl•s of Trust•• and Examln•r The Trustee is responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 llhe 2011 Acl'l. I report in respect of my examination of the Trusvs accounts as carried out under section 145 of the 2011 Act. In carrying out my exarninats'on I have follo￿ed the requirements of the applicable Direcbons given by the Charity Commission under section 14515llbl of Ihe 2011 Act. Indèpendent Examlnèrfg Statement I have completed my examination. I confirm that no matters have come to rny attention giving rne cause lo believe that in any material respect.. 11 accounting records were not kepl in respecl of Ihe charity as required by seciion 130 01 the 2011 Act., or 21 the accounts do not accord ¥Mlh those records: or 31 the accounts do not comply wlh the applicable requiremenls corthming th& fomi and content of accounts set out in the Ch8rities (Accounts and Reports) Regul8¢ions 2008 other Ihan any requirement that the accounts give 8 Irug and 18ir vigw which is not a matter as part of an Independent gxaminatK)n. I have no concems and have com8 across no other matters in connection wth the examination lo which attention should b8 drawn in this report in order lo enable a prop8r understanding of Ihe accounts lo be ￿8¢had. A TfL 2.- KRESTON REEVES LLP 37 St Margaret's Streèt Canterbury Kent CT1 2TU S8mantha Rouse FCCA DChA D81& 27 January 2026 CONSTANCE PATERSON CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2025 Note 2025 Unrestricted Fund 2024 Unrestricted Fund Income from: Investment Income 51,549.78 $0,277.02 Total Income £51,$49.78 £50,277.02 Expenditurè on: Charitable Activities.. Oonations Governance costs 48.000.00 11.927.10 46.750.00 8.582.70 Totsl Expondltur• £59,927.10 £55,332.70 Not In¢om• B•for• Galn$ and Lo¥$•$ on Inv•$tm¢nts 1£8.377.321 1£5,055.681 N•t ILois•sllGalns on Invèstmènts Unrealised 135,549.(K)I 112.573.00 I35.549.￿) 112,573.00 Not M0￿M*nI in Funds in the Y••r 1£43.926.321 £107,517.32 Fund8 At 5 April 2024 Net Movement of Resources in the Ye8r 1,820,842.23 43.926.321 1.713.324.91 107.517.32 At 5 April 2025 £1,776,915.91 £1,820,842.23 CONSTANCE PATERSON CHARITABLE FOUNDATION BALANCE SHEET AS AT S APRIL 2025 Note 2025 2024 Flxed Assets Invgslmènls 1.758.315.(N) 1,793,864.00 Currant Assèts Cash 20.754.91 29,078.23 20.754.91 29,078.23 CurT•nt LiabilitieB Creditors, 8mounls f811ing due wthin on8 yaar 2.154.00 2,100.00 Not Curr¢nt A880ts 18.600.91 26,978.23 Ass•ts l•$s Curr•nt Ll¥blllttr$ £1,776,915.91 £1,820,842.23 Funds Unrestricted Fund £1,776,915.91 £1,820,842.23 The financial statements were approved by the Trusiee on 2026 zbr8r RÈ¢hBI ILES 1•. 202e 01. 27 I7..#..￿2 JTC Trust and Fiduciary ServirEs IUKI Limited CONSTANCE PATERSON CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 1 Accounting Policie$ These financial statements have been prepared in accordance wth the p3￿Cular accounting policies described below. Basis of Preparation and Assessment of Going Concern The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities (effective 1 January 20191 preparing their a¢ctsunts in acctsrdance wth the Financial RetxTrrting Standard aptAicable in th& UK and Republi¢ of Ir918nd IFRS 1021- (Charities SORPIFRS1021 (Second Editionll. The Constsnc$ Paterson Charitsble Foundation meets th8 definition of a public entity under FRS 102. Assets and liabilities are initially recognised al his1￿Cal c05t ￿ transaction value unless Otherwise stated in the relevant a¢counting poli¢y notes. The presentation currency of these fin8ncial $18lements is Pounds Sterling. Golng Concorn The Trustee is of the opinion Ihal thg Charity has ad9quatg rg$ourcg$ io ￿ntinU0 in opgrational axistance for the foreseeable future. Basls of Accountlng Incom• rocognStlon All incorning resources are included in the Stalement of Financial Activiknes %then the charity is legally entitled lo the income and the amount can be quantified wlh reasonable accuracy. Income lax recoverable In relation lo in￿lment income 1$ recognised al the limg Inveslmgnl income Is receivable. Int8r8st on funds held on deposit is included when r8c8ivable and the amount can bè mèasur8d r81iably by the charity.. this 15 normally upon notification of the interest paid or payable by the bank. Dividend5 are recognised oncg th8 dividènd has bgèn declar811 and notification ha$ ba8n rè¢èivod of thè divid8nd dug. This Is normally upon notification by our investment manager of the dividend yield of (he investment porffolio. Expèndlture recognltlon Liabilities are recogni5ed as expenditure as soon as there is 8 leg81 or Constructive obligation committing (he charity to that expenditure, it is probable that settlemenl wll be required and the amount of the obligation can be measured reliably. All expenditu￿ is accounled lor on an accruals basis and has been included under expense categories that 8ggregale all costs for allocation lo 8clivits"es. Where costs cannot be directly attributed lo particular 8clivilies they have been all(Kated on a basis consistent ￿1h the use of the resources. Grants payable are charged in Ihe year ¥then the offer is made except in those cases where the offer Is cond1￿.0na1. such grants being recognised as expenditure when Ihe o)nditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. Fund Structur8 Income funds are unrestriGted funds vthich are available for use at Ihe discretion of the Tru5t88 in furtherance of the general objectives of the charity and which have mt been designated lor other purposes. CONSTANCE PATERSON CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Invgstrngnts Listed investments are included in the financial stalemenls al mid-market value at the balance sheel date. Unlisted investments are included in the balance sheel at their historical cost less any amounts written off. Investments inclLJde cash held lor investment pur￿. Debtors Other debtors are recognised at the settlement amount. Prepayments are valued at the arnount prepaid. Cash and cash •qulval•nts Cash at bank and in hand includes c8sh and short term highly liquid investments with a 8hort maturity of three months or16ss from tha dat$ of acquisition or O￿nIr￿3 of the deposit ty Similar accounts. R•alls•d galns and lossès All gains and losses are taken to the Statement of Financial Actiwties a5 they arise. Realised gains and losses on investments are calculated 8$ the difference i*lween sal8$ proceeds and their openin9 C8rrwng value or their purchase value if acquired subsequent to th& first day of the financial year. Unrealised gains and lossas are calculated as Ihe difference belI￿en the fair value at the year end and their carying value. Forolgn currenGles Monetary assets and li8blliti&s denominat8d in lor8ign curronciès aro translatad into stèrfing 8t tho ratg of exchange ruling at the balance sheet date. Transactions in fore￿n currencies are recorded using the rate of exch8ngtr ruling 81 the d8le of Ihe Irans8Ction. Exchange g8ins 8n