OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-10-31-accounts

PADDLÈ STEAMERKINGSWEARCASTif TRUST LIM￿ED AWNUAI REPORT AN05TATENIENTOF ACCOUNYS FOR ThE YEAR ENDEO 310CTO8ER 202$ COMPANY REGISIEAED NUMeER'.(M)P5S216 IHARIIY REG￿lEfiED NUMBEB.. 299931

PADDLesTEAMERKtNGSWEARCASILETRusfLIMffÉD (ontenisPag• FortheYéaiendErt310clvbÈi202& Tru51¢e5 Rep( RepDrtdthÈlndÈpendontAudiiors SLAtemthtofFininckilA(tfvitie5 B&lpThc*5heet NOlE5tolheFkn•r￿￿SI4t•m4Thl5

PADDLE STEAMEftKINfj5WEAR¢ASTLETftUSTLIMtt£D Pase A TrUs¢ÈesaThdAd￿SQrs ForlheYearenderfaiottobor202S Irusttts PWClamMÈI rwiorthor 9WSem￿￿I￿ppDIvt￿d4SÈ￿tÈrnbe[ 2QI51 F DSnaTIIPwolntryd 14 hlaKh20251 kbAAd¥Thi RvE15t•rd oinct T4IThHW¢S,VkntEoIHill. MillDidtsnSÈa, LymiwtDn.HArnpshlrt, 50410Ri tfidEpendÈrtAuthoYs H•fi&Ètr>th&Compiny. 73 U￿￿nSt¢èÈt,GreThw￿. PA168EG Bankir5 (Olf tharklÈsOepD5￿tFunj.QDWAfftEtltar•2.LD￿d￿h. Et4R3AB MedWC￿ 8inkltd. B[￿dwavP LetthworthG3rdÈntity. Aertroi4J5hire.5653TA

ADOL£sfEAMER XINGSWEARCASllE fkusTIIMrrEO Fortheyeif ETrJed31thtobor2025 IheCornpanVs MeIn￿andu￿andAnlt￿DfA￿5￿￿iAtIOnar1dAtCounltrE and RepprtifiEbycijatit￿S.' Statemenl olR¢r0ni￿c￿Éd nd IFRS lo21￿￿the[0￿￿a￿lOs￿cl2OO6. Aelirence ar￿adMInIs1rd¢[VÈdIal1S tafflaihtakn3rilfactsan6d0cument5re￿tEd1Dthe$hIP1nd¢therPlddIE 51èaMÈis Paddle5teomeiYdnE5wfrWCislleTiugttswAEdwa&lnt¢rpor•tedon27fv1iTrh1953.TrUthbÉIQO7552ls.Th￿ChaIkW￿É0vornQd bylts E￿￿4ndU￿ andArtlclesofA5￿1i$N)nWh￿h¥yÈr01•str￿lsea0Tr3A￿￿?t lo￿. ThE C4XIIP1nyW458r￿tedthatI￿jbl0$￿alu%ri￿￿ 17Au8U5t19883ndis r•gl%L•rqdwit thE CharItyCom￿S￿lOn, W￿￿2129￿931. ThÈTrusieeSlwhgaieill￿￿￿￿0f$Ofthl compinvf￿1￿ev¥1vos¢%¢r[QmpJnVIo￿l￿h￿tsAVQs￿￿￿È￿dulwtbe¥4I1u￿deire￿l IChSrfflanl Rwclarnfnvr TWCDrthoin PWSemplEIAppolntd4SqptembEr20251 Fwsnart IAppdn%ed 14March20Z51 ThÈTrusteesaresUbj￿l￿￿k(Iknn orr•44¢t￿nEr￿n%1¢PF￿dult$Iet￿￿I intheComparfsklÈmor￿￿l￿￿￿jItlK1I5rf clfifionwhich151tsgovrrtinB doCu￿eThI.

PADDLESTEAMERKIPI55WfARIASILÉ¥AUSTLihirtED Tru5tq5ftepvrt deleiminelhèeew8lpol¢yoFllieCDmpatt¥. TheBoard MÈet14￿Ia1IYaS clicvm5tincesleR￿￿e. It15 PteasÈd toreroinisethE psyslanceofmanylnthwHub1sw￿brm￿th￿re￿￿ErtIs￿ rtitS ThpTIu5te¢5aWn1Méth•rnaloirtilsthittbeCothpènylatÈswhn upda11ngthdrp￿llS. CompJwha5de¥pknped SV5tewF5¢omenltorlfid¢￿4hèser￿￿t￿￿na8eènY IMpa￿tha1theYrnay￿a￿￿ohthè£O￿p￿fftVlllI￿etutvrE. Db%e(t¥JesaJdar14wltlis ThÈComptrycrfitinws4iNthits pr4MèoblÈttlwofpre5etvlw InuI￿nIC￿￿￿ItW. thEhl&t0ift￿SS￿lp5K1[￿¥yealcasye. S rlthgsv￿rcastLe15rhartgrVd tpDart PltasuYÈCraftLlrNt￿loPc1￿h0bpÉrtlè théshlponherori¢lnalhomÈwatèr&ofthe rwErO4rt. ThÈtrust2esof P5K(f￿￿t1￿UE tobÈveryg114sdwiththecareandèltéftlronwthwhlch thp5hip 15 beibgOPÈlltd A￿•10[ rw8lhpu1lreb￿WwjS¥11iI¢dé￿2O2X.￿for0theS￿p'5ceht￿tt1ryII 1024, and 1sbe1n8completedthtrlngw￿ter2Q2sl26. OuipioAr¢5saDdsyttttslnmeetinK?urDbjwtiW$￿1ÈPOrIÈdknrnUredetIl1 uDder AthIeVm•thts￿d lThsetMgourobleEIiwe5andpIi￿n$Our￿cl￿1Esth￿Trn$t￿è$ havoEiwncaiefvlcLThideFiii￿￿ltsthÈchI[ItyC￿￿rn1￿5i￿,S4éMr guida￿e￿pUbl￿b￿en1andlTrp1rtIc￿irtDrt￿Sw>plW￿￿Trtuy9UWk bEryebtuuidinrBoh advanclni•dwaliDn.

PADDLE STEAMERKINGSWEARCA5TLETRV5fiiMttÉD Tru5toes RopoTt A(hleyemEnt5andpÈifoiM•hcÈ D￿￿&th￿102412Sr￿h1￿c.S1￿tsa￿nwasF4t￿jI1t4n thEArtDeto>tylèin keeP￿%wIlh the eraYthentheshipwasdÈshÈd. Mwhwoikwa5ako wereple35edtoflnd, when ¢ponirfup. Ih3tthEIMÈI fetèsses ottliebas 51rvoturepfthecllhdÈnséttsJèrÈln¥huchbottercoDttitipDthinwe had ofthedEik51rorn Iliepoddleboxe5tolhebDwandthestèÈlsliak￿Whei￿thebuII￿E%tSthed￿[￿￿Èa$ntc¢ss>ry1￿Of￿rWar￿01th￿FaddI bDXEs ThlsisbelnglundedWinhpuse13bDUrfiom DSRR8Conipany.there5ult5of P5Kcffuhdralslhgènd reserves and aEf3ntot£2MKfvornthe weh4YecoThlinuedtopiovldÈahÈduthtloThalroknoton￿wrth mileri31 aknulKlngJwrdrC15th bthllsr3bD￿tthÉ h￿￿Orp￿dIe￿tearnets mole8eneiallythyth￿h regultr postsonourvb511e.TheieysDtyla PoStftsr￿￿at haFyEned tQSDmÈpèddlèstÈam￿ rnheiekn thewoildfDI everydèytsftheyÈat plusre8ulai Pl(lLT￿ olthe Munlhl#atur@saThdst0rf￿abQutP￿d1ÈstÈa￿érI1$we1IaS olherp4ddlertearnErr4ated￿è￿x hdtsthÉtp￿1S. Wtontlwi tobÈverypkasediththèway DSRRbCok<thattor.Tun3rtdthaihtakiKCtoan oxceptl0na1￿h¥h5t￿￿th[d. ThE rewltforthoy¥wMasuTklu5of£ly.7PB. T￿TrUste¢S￿￿On￿tOb&￿1ndtUI¢f1hE￿E￿d￿p5Kcrt￿m￿fvII[ns￿lfthnt resetwt05epthtsfwstthroLyhiny unfor8seents5ue partsru4arl¥thÈnÈÈd torunplinned I￿￿￿3￿[alw￿rk. HuWcveill presentfocu5 1StarllmplÈtÈPhasè2of t￿m•JorIe￿a5￿eScTibId thÈ AthEovomontsondPerformBnie 5t4tErnenlitMWe.WhtThlhh15coMpkt￿thÈ￿￿a￿wsh0u1dbfj ifith)rouRhlY4wdordE13hd PSKCTcan 8Taduallyin(reasE ks1¢5ert8sfLY un1weseeThproblem5whthmayf￿loUt￿￿ttÉt￿t5cOPEoflh%rharteTI6Itgrne￿t￿th0K. ThÈoppnrtunitytoryntr1butt rErnaIMinttdoMt￿￿5ThaYhèMadÈt￿￿£hth￿￿Ohalte￿SwellISbYQ1leIMlITh5.

PAOOLEsTEAMÉA￿HGsWEAR(A$rLE IRUSTUMITE paEe S Tyuxees ￿e￿ort Fortheyear ertded 3IOctober2025 Iconlwedl Tw5tee5re5ponsib11tt¢5 ITh thelnan¢l•l stJiemEnt5 The Iiustee5lN%lioaie alsothe dlre(f01501the Companyforthe purp05E50ftompanyw)4re responsible for plep￿Ing¢he ReptsrtQftheT￿￿￿tQeS andthefinontlAI stalennt&in atcotdancewllh ?pglicablp kwand Urtkeil Kln8dom AtcounVn8siandards Company law requlrestheTiusteesto pTepare lhianiit15tateThtThtsfore3ch (Inanclalyew. UndpT Ihlawth¢TruStÈes hwe Ihest3ts of affairs ofthe Charit&blEComwnyand of the Surplus Dr delbt Df Ihe comp￿y10Tthlt perfod. In preparing IhE5e finaDCièlsièttnlCllts, IheTfuStees are rg￿l[edtQ'. SÈlett sult4b1e accountiThgpoll¢ks and ttrnapplythernconslstendy.' observeibe PYir¢l)le$ththe ChBrldes SORP20151FR51021,. rnakelud￿rne￿t5 Bnd e5NmJtesihat are reasOthèb￿￿￿ pruden(. statewhetherappllcable UKacLwndnE5tanrfardshove beenfollowed.5ublecttoa ard pr4parpthefinan¢lal ￿￿tementS0￿ ihtÈolfiÈ¢on¢erD h￿S unle551t 15inappr4prk4telop￿S￿￿ethaltbeco￿pa￿Y Ilconttnue In bvslnÉSS. The Trustees are iespw>ltslÈ for keepln8 proper accoun￿￿% records 4J15cIo$B VI￿h reèsonable accuraty at any ￿me the posirfDnoftheChailtoblc¢0tnpanyandenab￿th￿mIoen5Ufeth1tthe￿￿¥￿lslst&e￿￿￿t5 ¢tsmplywlththeCompartles +IC1200G.They4ie 815orespoft5iblefors?feBuJrdlnEthtassetsoltheChairt￿Ie£lWamY¥￿rfke￿reIOftakI￿&re•s4fftjb1Q step> forthepreYenUMand deiethon Qffrauddndotherlrregvl8TI￿eS. Theie relevafit wdlt IDlormation DryA￿￿the(har￿￿b1￿cmpanV's unowa¢e.' and theTru&tee5 have taken al1siepsthÈthey￿J￿I1Q have t2kentomikeihemselwes aware uf ty rele¥ant avdlt infocm?tt¥nandto e5tablshthattheaurfOr&awaretslgha¢ Inotmthon. TheTr￿&teesare respon￿b￿mrthe malnten4nce4nd Int4iityof the wor4te4nd a¥Nnai¢lallnfgrmitton InclU￿￿Oft ih cofflpany's wÈb5ite. 8yorderof the6￿rrt DV. 27June 2126 JH Megorae Olrect(Y Rewstered Office.. How¥Wrteyi Hlll, MllforttorSea,lyrnSn8Eon. 5041 ORZ

PADDL£STEAMER KINfjSWÉAftUSTtE TRUST LIMIIÈD Pa8¢ 6 AEPORT OFTHEINDEPENDENT AUDITOR5TOTHETRvsfEESOF PADDLE STEAMER KINGswEARCASTLETRUSTL1￿1IE￿r0fthe¥qSr endÈd IE D￿06erIO1S. Wehaveaudfttdtheliahd?5sia1È￿e￿1￿o￿P￿￿￿5tÉ3￿￿KIngS￿eaica5ile TrUSt Limited Iiho'compary'l IDrtheyEarendel 31 O¢tobÈr2025whldTrcoMpri5etheStatementolCompiehÈnsive kntDmQ. Baance Sheetand Fltstestothe FInancI￿ Slatement5. appllcable InthpUKoThd Repuwlcrl Irvlènd'iunltÈdXlnEdom Generally AtterAed Accouiitlng Pr3ELlcel. In4ur¢P1n￿￿ the11￿￿(1T15tate￿eDt$-. Iveètrue ind lalrylewolthestiti tsfthÈthaiitaW@ companV5atfaiT5 a5at 31 O¢tobér 2025 and oflt51nCQmln6 hwe been pr4>eAypreparedin accoidancewth Uni¢id KknBdom G¢neiallyAcceptedAc(ountln6 ￿0￿(¢.. hjve been pieparèd in accorda￿c&wIth1kere￿￿Irtment$dtbOCO￿P9nIÈ1Att?UO6 f¢PQFt. VlÈBrelndepe￿dÉnIo1￿he￿mpb￿¥ In autsrdahccwlththeethlcal rÈquireMentsthat arere1evant tu Outaudlt olth?nn4llcla thp5ereRu{r￿en1$. W¢bellevethat ihe ￿lIt¢¥1d￿nCeW￿ have obta￿edI$S￿￿cl￿ta￿d appmprtslet4p1tsthdeab￿i￿1o[QU[Opl￿Itsn. CDnLIu51onS ttlètlThBto¥oln8c4n<+rn its audiling tliefinan(iil 5tratemEntS,we hawewndudqd thètthedltÉdors'u5e olthes01rf tmcem b?$15 o1attowrt1ng￿ theprEporètlon Bastdunthewoth￿￿aWÈ perf0rtnrtwe￿VÈNotldentlfied anYfflateli￿u￿Cert1thtle$relj{4n1tQ eYentsorconditlonsth, Ind￿￿￿￿ty￿rcd1ertIvE1¥. m3y¢asisignlfluntd<)ubton ihe<ampansabUitytoc4ntlnueas a go1￿Con￿rn￿&pÈ1i0d ofat ltast tw￿￿ moDths whtnthefinantil st3teMenis are 8uihorisedfori5SU¢. OurreSpon¥bll￿￿a￿dthe respDnS￿[1ltbes0fth£￿r￿LtQF5W1threspe￿ to£olngwn¢etn irpdescrtbed Inthordevanl seth0￿01t￿$ report. O¢hetinltirmatlon ThedlrettorsarèrsponsiblÈfortheotherlnloimatlon.Theother 1nforfflatl￿r￿￿prt$e5i￿t1￿f￿rMDt1th1n theReportol%ho Dlrect<Jr5, butduesn¢tlnduduthnn4n¢ialstÈmÈnt5anéourReportftheAtyoiiorsthereDn. ropinloTroftthefiAandalstatementsdoes nol ttsvertheDtherinfMttatlon énd.xc￿lt0 theEXtETrtotherw55e¢xpNdtty5tatEd Inour ieport,wedorEot exp￿￿ anyform ofassuraffltecondusion thereon. ￿c￿ne[b￿ w1th4uriudltof thefinan&¥l statementourie5ponsiblllty1storiad ihoOihÈiinlorthatlon ￿7rdO￿lSu,1Oh$Ider whet￿rthe0thPr1fif￿￿ffiot1￿j1s maierl&llyln£tsnsistwtWiththeflnanrialstètemtrtsorwrknowledee DbtnEdlnthé auditor therwlseappoarslo be mètpriallymlsstateo. Ifweldert4fyststh maler￿lI￿conyIstend￿50rappa￿l￿i￿rlal Mls&tstement5.weère reouliedttsdEteiminewhetheith15glve5Iisetoaniaiérf21 MlsStstenientits thÈfhiandal statemeTrtsthemsd¥es.11.b35ed￿n thewonl we have p¥l¢rffltl we(oncl4dethattherÈ5sam3tp[idmk5Statem￿l Dlthlsotherithlwmatlon.wo ve[eq￿red toreportth4tlac¢. We Opknlonson othermètteis prescribFd byt￿ comynlÈsALt20Q6 In ouropinion, on thèwoFkundeit6ken It)the¢uurse olthéaudlt.. the Ir0m4tlontr￿n Inlhe Report(th&TpJSteesforthe nnandalyearloiwhl¢h the ftnancldstatementsartwepared15 nsi£tentwllh tho nngnclal 5tstements.'and the ReportoltheTruSteeshasbÈÈnwepuEdln x¢ordanc¢vAth appiitsblelesa1req￿lern¢ni$. NlattetsonwhErh wo •re re￿VIreJttIepOrtbvex¢ept￿h In thp. ligliiof ihe knowled8e and undrstandInEolthewmparyandiisqn￿r&hM£Tht0tslJInQd Inthe(￿r5￿thea￿1I.W￿k￿ven0t wehavtnrAhlnstolÈPOtt In re4)Qctofthelullu￿nS￿terswhE￿1Iec(￿pè￿l￿Act1QQ6ieqU1re5V$tO1ep￿IlOy￿￿ bf, Illour de4￿lte xcountkngrecords￿¥t nOtbÈen k￿Pt,OrreIvr￿5ade4u0t¢1QI wraudlthaven¢tbttll reCe￿d brènch¢sMt thefifiandal sra11m￿t5are110tIThagl￿￿rnen1Wtth theiccoJntlD4retords indretulnS.-01 terr4￿dIscI0S￿res0f trusieÈs'rEmunérètiOrt spÈt1hed by lawafenOtmade.'or wehève EecElvedallthe knf¢tmatlon ￿￿eXP￿ratIOns￿e Teoulreforuur#udiLW theTru5teeswerÉnotonlltledto Prepa￿%he￿o￿ncId5temetst$knacCOrrfa￿￿eV￿th theStt)4jtwp￿l￿sr￿8[rnea￿dtlkt adwatsta&eafthe5mal t￿p￿Tr￿s'exe￿Pl￿ntrOM th¢ioqulrementto preparÈastrate0cReptrt￿1NprgParIllÈEhe Reportol theTw5teÈS. Respon51bllEtles of¢lreckDrs AsexplBived moiefullylnthest3iementolTtU5tep5 R¢sp0nslbllll￿ ￿t￿￿t￿n pa8efiwlwhoaFea150the diierf0Ys￿1Ih8chartt￿jJle c¢mpanyl,thetruSt¢tsorerespon£iblÈforthe prepa1a￿On ofthe &nan¢blsi￿￿￿t5aThd Forbetysattsfied thalthe¥gfveatwe4lldfa ylew.and ￿r$uth Inteinal rOrtir¢l ?sthetru£teesdetermlnenoce5&&rytOEnèWethevEepwatitsn olfirtancialstatements thataiefree Irom rnateridl Mls#Jtement,whEthErd￿eiQlrjud ofelror. In prepzrln6thefinartclalstateh)ÈThts. thètrustee5areiesponslbfÈlorassesSSn8the¢(mparf13Mltytocohth)ue Js/golr6cancer dlsdosiD8.4sappll(EtAe. matlef5rf1ittdtogoitt8t￿C￿rn4lld Ug1nÈthet4ln8¢￿C￿￿ts￿SIS unle55thetrJsteeseiiher teThdtolitylO*tethecompmy urt(t<eJsÈopeiatiMs.¢rhave noreali51iialEwnat1¥ebutlodos

PADtsLÉS¥EAMER KIN6SWC.A# CASflETftUST LIMITED Pixe 7 REPORTOFfHE INDEPENDENT AUDITORSTOYHETRUSTEtSOF PAODLESTEAMER KIN65WEARCASTLETAUSTIIMI7EDfortheyear en&Ed31 Odoberz02S. Ouf resp4nslbll1l￿SfoVthe audStolthÈflThèn¢la151alemÈnts ¢heycould rea50nèblybo gmpecled to Influen(e Ibe¢tofiomlc dedSiODS )EusÈKstaken on theba&iS ¢fth¢se nnanclèl 5tritÈn)eftis. The¢xiènt loW￿(h￿r picKedurtsarecapab￿￿￿PIecFDsl1fe￿￿1￿rltles.In[lu￿1￿g Ir?u¢ Is detaied behw.. ln ￿eNtIfy5￿￿￿￿￿ 4s5e5%in8ihÈrfssolmateil￿￿l$Stèt¢ffjenI5In le5pectdlrreE￿jrml¢s,I￿￿1Udsn￿￿è￿a0Trd ttQffl.￿rnpl58ncewilhlawS d regulall0DSwecortsldar￿ th+natur¢o1ttr￿ cOmpanyandthpin￿stry4lldthE(ornp3￿sCOtti¢￿ eDvlronfflent.Wefo¢ysodon spetillclaw5Bndre6uliti¢DS whlthwecon51dEredmayha¥@ adlrett nsateiièl eEte¢ttyithÈhnancia 5tatemeDtsorthe aperation ollhÈ (ompèThysvch a4theCompBnle5Att2(O8, tèKatlon IEgtslaiion andlealih andSafetylP￿slOi1¢0.Weas%e5￿d the pAtentol¢ompllan£e w1th 11wsandre6￿ab0rt5 IdÈThtlftedthr￿h mthngerygulrl￿ afmanatemeDi. InspeoinElesalwirespondenEeanécoTre5poDdtnce wlth Hmftc. Wecon￿dered￿an0B¢￿￿t'slncefflt1¥ÈS doppty%u￿t1e5lUrfv1￿d￿1eTht manlpulatlon ottheflnaodalstètement5,INdudin8lhÈilsk manoEÈmèntbla5 and over¢ldeof contyols. Taaddre%sthsÈ weperfomied an?Iyllr?IpiocedurE5 to 1dent1fyanv￿usUaI Qr madeln deteTMlfiSngaccountln¥ ￿tIMate5WEre idi¢attye olpDtentlalbI15. Wertvlewtdflnandalstatm¢nt dtsdosuiesandtested tdenlil￿I8wS re8ul?Ih)nsworecoMmu￿¢èteI ￿￿thIn th88udltteam re8ularly4nd the leam remèlnedalerttoinstante50f n¢n- There?YelnherentlSmltatiynS )Udlpr<)e￿￿re$dÈ$￿e1 8bDve.ThEmoreIemov￿dth1t11WS3￿drQ8￿laIJQThsareh0m1lnanc￿l tran5actions.the lÈssllkelyltlSthwÈwould becameawareofrton￿0MP1lanCe. kndItlDs#a￿ardSal￿l1ffl1tthPrfUdlt Pr(￿dUleS required toldentifyAon-¢wpllancewith Iiw5andio¢uloiion5toen4ulry olthediroctors and othermènaEeMntandtheinspEtttloDol reBvIBtoryd legdcorrpspondÈnce.Ifany. Materi?ImlsstatementSthat isetlue lofrauo¢￿tytrhaI¢￿t￿déie(E ihanthtssethai¥Ylsèlrom eiroiastheym￿hnv￿yedÈtsberatÈ nce3lmertor¢olluslon. Afurther deXrWtlDnol￿rÈsp0t￿bll1IQsfor1heaud4tQ1t￿eflTh?n￿akStat£fftÈntsIslOcatOd on theFlnandft¢por¢ingCouncll'5 W￿b￿le&tWW￿.frcM>vv¥U(lll￿5rts£PO￿￿b1Ill1És.Th1S descrWoA tormspartofourReportof thÈAudltors. use ofouf Téport rÈportI5m6desol4ytothecornpanrf55haFeh¢ldeis, ￿36Ddy.4￿ac￿rrfa￿c￿￿11h ChaptÈr3¢lPart 16Ith&ctyn9OiilÈsAtt21 Our#￿ItWOrk h3sbeenundertakensothètweml6ht5tatttoghecompanVssbareholders¢h05E maLteiswearèrequlred tostète them In aReport ofthAudltors andfor&other pu[p￿e.TOthefvl￿l*￿tent￿trrn￿ttdtyyla￿, wedonot accept orassume ie5p¢nsSb11itytoon¥oneOtherthonih¢r￿p4￿ètsdthetDrnP1ny'5Sh￿rE￿lJersO58￿ty, foroji wdllwork, f<Jrthi5report.orlor¢ha (Wnlonswehaye fotmed. hn HeThd tsThISonlorStatutoryAu¢iiorl for èndonbeh3llolMessrs. H￿derSon Statut￿ryA￿dIt0r Greenock PA1610G 29June 2026

PIOOLÉSTÉAMERKINGSWEARtA51LEIRUSELIMrrED Statement olF5n•ndalA(Uvlttes Pw Iheyeiitnded310dtybet1025 nre5 d RÈitrkted 102S 202 lrtoMlngAtsource5fiomgeDEiattdlumds 32AQQ 12JOO 29A93 Incomefroffl Charita￿tatI￿lLt1PI Ve5trneDti￿0Mt I>￿93 30.461 34,5a4 64.427 63.093 RSOuittS Costsofynwatkngfunth 2? 4>.014 330 23.594 2L592 Governance(0￿5 NrtIhtim0f￿rthIYeèr 13.112 Lg.778 RqvJnclIatlonoff￿d Fth&broutytgrw¥d 401,933 43L665 57 IM32.5P5 9857 Totathndsc￿l•dfcqVThrd 43J.665 57 1.052.353 1,¢3

PADDLE5TEAMERK¢NGSWEARUSTIÉTkUST LWEO Pase 9 8ilanteSheel Af siodobÈr2ts2S 310clb+r 2024 20 F5xedA5Séts 917.906 933.763 u[ieniN5sets Dibioys WoFk In proRTe$5 ash atBinkd Inhot 3DJ09 28,263 131.974 190.546 31.058 ?0.254 Iredi¢•fs.-AmtsunlsduewthiThoneyer 156.0991 12.5WI NetCU¢rentèssèts réétAsRals 1.051353 l.Q32.575 ThÈFunds ollh8(harlty Shaiecapltal 57 97 LthTe5ttKted |DttsmÈFunds 14 198,910 Réstrkled IncomeFund5 415.045 101.93 Y4uilv)nRe5E 14 431.$65 431,665 T￿11<￿1fy 14 I,D52,351 Theacrvunt5 ￿￿b*￿ pr•wr•d i￿￿[dant￿vI1th thÈpIth1￿QnS1ThP0rtIsQftheCOrn￿È￿At12{¥j6aPpIiCab￿t￿CoM#è￿iÈSSubIe(IlotheSMN cwnpardèsrÈglm•. Thefir•alstatomntswwe4pprovedbYthe BwidofTYuJt•osind I￿hOrI5e￿f￿Its￿èt￿ 27Juné1026indwere5y¢d￿￿itSbÈhaI1b￿. Chiitmw- l M Mesoran ConwaryrèOStered Nmber.. 00755216

PADDLEsTEAMfRKIN65wEAR￿$FIEYfv￿S7LImITED Notéstoihe Fknan¢lèl St)teTrn Foi Iheyeaiende6JlOrtober202S finènciw15lat￿entshayebeen piopJicd under lhehlst￿kaI Eogltohvehiion. T3DkiblÈfixÈdaS￿￿lre$talEdalCo5tOrv￿l￿lkn. Thtrust••saieotVEoniohthaiih8cutrintmirkeiv￿￿Evfth￿￿￿È1 Is atlistthats*dattheirpuIchas¢pr￿1￿I0lS. ThesellernsarenDtbÈlrtgus*d andaré not sublÈtttowÈatathtéir,c0Th5ewentlvno dÈpittiatlon has bÈonprovlL*d. Intomln%Yesour(Fs nations arecrethtedoDthe5t4tpmentoffin&Mlilactwit1esl￿lh￿VÈal knthlth*heyaieiKeiYEd.th4rt*tlntÈm*b4c¢rKdftsit vÈ&rtoM*Khit reLite5. IKi>rnEidatlME¥oie3tfict¢dfund5iSSÈPalètetydis(losed. co￿e￿￿O￿leE1ckl￿lrtcQ8nis￿d3tth￿Èadl￿10fthts d&teonYknirheithEI.- thèthay1lyk4￿r1t￿atPIObéIthèSbÈÈhirlnt￿d.1he E&iit¥ ThThallsed andnotifiiatitsrt lÈtè￿édtsYthe(h￿1lWthataIh5lTih￿tltshWulbQ MadeorhD5been re(el￿d.￿c￿ptQfa 1wcy.in whdè rlnp4rt, tsonlycoDSidÈiÈdprtsbablÈwhenlheamountCanbemeasw￿ rÈllably8ndtherlirltYnDtrfiEdoftheexeLuEorf5inteDtltsnto mak4distribtstknn. Reswi¢raNtSJ spon%ov5hIp3hd￿hè￿1r￿￿tle￿k￿ed0[¥eTrEr￿eJf0i1hètsbjÈ(l￿￿S0r1h&(h1T1t¥WAh￿ut fui¢hwspeclfied puT90￿andwhIchareOvlIILL1￿aS(ÉttQIall￿rm1. RÈstrktedfU￿￿%￿r?IObe u5E6fvi SPEdfKpurpoie5aski4dtyJrt tythedonLY. (xpe￿ivIe.wthth mEntsths•<rft•ri&.W￿1he Id￿t￿l￿dtoIhefvn￿. trébtors Trade3Ndoih¢rdbtoisoieEuryuJedat%hÈsÈttswhontimouThtdueatteronydixWn1s0tfIred. sh altsaThk4nd r45h inbartd Int1￿￿st&S￿lnd 5hOrtt¢rMl￿h￿Il￿￿d IN¥tstrnlnts￿th￿ 5hOrtterm wturltyfrornthedBtopf c*Èdltoys CrÈditor%arererc6nl5eOwhwÈt￿lCh•rityh￿S￿ PFeSEntobliytknnIesuIUngffomopA5teVeDtthatwlllresult￿1h?tIa￿S1￿￿l{u￿d$Its sdtlernElltamouDtafterallOwingfDranyth￿fjuDts.

PAODLESTfAMERKIN6SWEARC4STLETR15sfLIM¥fE p8¢11 Notestothe FthantlStalemEnlS Foitheyoaiended310tt0bÈi2O25ICoMtlwEdl Donaik)ns¥dieAaclos resirittÈd Fu￿5 Oonatioh 4S6 i.ODi 2.976 1.429 20D 1.062 Ooiiation.waveilwEx(ui￿￿￿5 1088 PSPSWesiex & D￿rt branih PSPS LondoThand HomÈCouNtlés bT&i¢hdonatio 5,338 6.33 6.Q85 PSPSGi3ThtrÈthathatn sloraR¢ 20J 32OQQ xs.I tnccrnef1om(harfl4￿el¢¢¥JlY9S 27.276 2,61F 27?75 4617 25.611 J.850 3VA61 Inwlm•ntlnc￿e UYÈst￿tted ￿￿￿st&4 YJXE TotalF￿nd uThd 1.057 2.35tr tefE5tYetekwÈd-OtleT 1.847 IW7 tÈrÈstreceried-vii P5PS Su[plus￿ HMttTIEa5urybtsh Ccstofyn+¥4tirt¢lunOs FundiaiskngMarketinB Postofficebo¥ 27 27 27 27 330 nds pl￿at￿M.￿È0t MaintehantÈtosts TrhVEI p<Èmlses.Chitha cA-ROg15tra￿ leE5 ZoomcD5t5 2L472 19,622 ZL199 1g,622 292 820 Iwa iio 130 13D ZL59Z 21,422 43.Q14 23.594 ktrk tal R¢pDrtin8AttowtantScrulkny ¥J3U 910 109 270 InSuTant 270 270 SD Roomhtre M&r)tlmeTIu5t 15

PW)DLEsfEIIAÈftK114GSWE&CAsllEIRV5TL5MITE Notesto thÈFln4ndalStateMents For1￿Ve￿Onded81a(%Ober20Z51con1InUEd} TheCoiApawi5I ies45terEdihalityand15 IXÈnlPlfiomt&NAlipn￿d&IS$osT￿$Atl$8#S. TheCompanyisTwteredlpIVal￿ÈA￿ded TlySteesand•Mploy¢es ThechaiitylsiuDW5kv05￿tetrS,l¥hol1¢lh¢t[U￿teP14lldhhs Ntrniembersolstth. Reè50nableind nEIw5aryofftulpDtrkl xp4n5e5 io TanRIW&FIKedA55e15 swur Othe Va At l N￿Mber2024 435.￿7 519.98S 5,565 11.176 97&161 5.565 Rev4lualiun At IlOttobÈY2025 435, 11.176 9ELYIÉ At l November2014 42.39 41398 2L42 63.820 311x¢tsbÈr 2015 etbookviluel 2025 435.0 917.X k IuEBt IN¢vembet20 933.763 P5 KlnB5wwC35ttewasValuedèt£435,QWln 2fj￿. OthEr￿a[hine￿I￿PlÈSQ￿t5Ih￿￿￿1nJnda5%O￿ite￿eoVIpMeTrIl1VrnPsCOMptO￿cl3ik I￿1tershIPof KibÈswÈarCas￿￿lpUrChlSid In 1015. li ebtfjrs 2025 OlhwD¢bo 27276 27,276 3,0 3￿33 4.447 TaKation-VAr 27 76 3m3 309 12 workln pwra%s Fu Unre51ri Aefilwothinwwess 28.263 At310rtob•r2025preliminaryvJotkahdtDsbhtdbttn kn(uir&towa[d5thE￿rt￿r2Ql5/￿6￿fit.Th￿c0St0ttheV￿¥wil by￿p*￿￿￿dv￿htnIhÈwOrk tompl•t¢dbefatethÈStartofthÈ2016 s￿￿er5￿51tr45¢asOn.Th￿￿l0f4hI￿Wukb1￿CluOed1TrrreOrtOtslTrlot￿I)).

PADDLESTEAMERWNGSWEARIAS1LÉfftusl￿PATEO P¥W 13 iheyarefvdodJlOctDber2025WDntlnuedl 13 Fund5 Re 2025 25.185 1.650 28.26 .650 1,65Q 850 55.Q99 2.500 Fund&ofthèChirlty 5niV• At l NwÈMbÈr2023 Surplusfcrlhè￿lr￿ded310ctober1024 At31 October 2023 Su[p￿Sfortheyel1 en4ed3&0itubllrI025 At31 Orwber2V25 17LSa5 393,6 431.665 gy5057 198,920 6.666 2QS586 4Ql.933 L03L575 k9.TF8 353 415.015 431.665 S7 Untll 30knrf12021 re5tnttedfundsip1atedstslÈ￿I￿￿￿d5trtn￿err￿dffrOM1h•pUdrtlp5tPaM￿rpresrV&￿Oh5￿lety1P$￿1ln21L4.1￿eYh￿dtseEnn￿&IèD[e￿th Ihe PSP51ormairnen•nreworon P5 KlngsWur£Jstlia￿dtheThIra￿SfPTred0PsKCf DunatlDTh5 rÈtl¥edknrespeLtoiihE'2Q23 R¢buiEd' havebèÈfftlhtl￿d0d DewecwhgDotthB MèiDrièntwoYkOThKI￿sw￿Fc￿5t￿ar¢deblledt0le5lrK1￿d1Und$.I￿ttrtst1eCel¥edonAs¥QCi￿te￿4n¥4Slmèffttsèré itÈatèd asrÈ&trktsd. The Royal￿tIon Re5wvefditE5toihE rev4lvatbDof PS KI￿￿￿r£Ill•ln2￿￿. 5harèCapKalrÈpre￿nts3s tlshatE5aretswedfvI￿plld..￿￿d1IÉ1Sharè1 1siued25ppartpl￿. 15 14otos2 3detFiIvaDuu51nr￿Trg IillmbrdhthÈsofth• PSPS andfrom￿ntrall￿Dd$.Atll0ÈE￿b￿r 2025É3033w45 Icciuedfepre5&7tin8 psxcfi¢cEvedrehti4llybyth• PsPS.Thlswistrin5f¢￿ertI￿ DwI￿￿rI025. ThET¥Ustrènt&abuMdkngfr￿lth￿Ch￿%I$torlEDtsL*V1ldTI￿￿0na￿ anThua1bo￿5.Trtre 1snobtMIl le45 17 The￿a￿￿￿¥S￿ar￿h￿￿roftheT￿￿t￿the Pidd￿5¢Pa￿pkprQsetVatsts￿sOE1￿IP5P51{(￿ir￿YTh￿￿￿erz]￿785s1￿h￿￿bOl￿$s5￿rtl0ffthe6stsI￿ed16J￿.