Incorporati￿ of Merchants & Traders of PAisley Report ofthe Trmittes and FinaDci*l Statements For the year Mded 30 September 2025 Charity Number: SCIM)8414 Incorporntioa of Merchants & Traders of PaAsky For the yeAr ended 30 September 2025 CoAtents P•8e Report of the Trnsteel Sta¢emtal of Tr"inancial Activities Baknnce Sheet Notes to the Financial Statell￿n￿ Report of the IAdependent Examiner 10 Incorporntion of Merchants & Traderj of Pl1￿Y For the year ended 30 September 2025 Report of the Trnste The Tn￿lee8 of the charrty, present their annual report and financial statements of the charity for th¢ year ended 30 Sq)tcmber 2025. Tr financial ststcm¢nts have Ix¢n prepared in accordanc¢ wilh ihc accounting ￿lIcI¢S set out in note I to the accounts and comply with the Charities and Trustee Investment (Scotland) Act 2(M15. th¢ Charilies Accounts (Scotland) Regulations 20(kn (as amended) arml Accouniin8 and Reportin8 by Charities.. Statement of Rccornmendcd Prncticc pplicable to charitics prcparing their xcounts in accordance with the FitwKial ReportAn8 Standard apphcable in the UK a[￿ Republic of Ircland (FKS 102) (effective O l January 2019). Objectives And *rtivitieJ The Incorporntlon of thL' Merchants & "fr*kr3 of Pai51cy w&q rntahlished on 17 Marrh 1725 by Charter from the Ma8iStrates and .1 ()wm Ci)uncil of thc Bur8h of Paisl¢y. for thc proteL"lion of trad¢ and the supporL comfort a￿1 rcli¢f of the Mcrnbers and th¢ir wives and children be£nming rKxY and indigent. The investments now held by thc In¢orporation havc been funded by subscriptions and donations pid through0￿ ihc history of the Incorporation arKI the income received is used as far as possible in making alimentary payments to dcscrving M¢mbcrs or wherc a￿ropriate their widows and children. Applications for support from Members or where appropriate thelr dep¢ndcnts considercd by thc Trust¢¢s at thcir regular meetin The TrustL%S di¥tribu* alimenlh twice per year. Achievements and performance The number of alimcntars rcmaind at on¢ durin8 the year under review. The TnL4t￿s eontinucd with their policy of payin8 tb¢ alAm¢nts out of the IrKorporntion'8 iIIVLJlmLni iN(ryDC aDd Icavin8 thc capitsl intacL The allllual wiiuunl paid w ihe alimentnr was £1.350 (2024: £1,tKKI). The Trustees continue to seek additional alimentars and each ycar send out Christmas cards lo the Members WIK) arc encoura8ed to contact th¢ hKorporation should th¢y considcr financial sistsnce nuy k WUAred. Fln*fjciAI Revir The surplus for the year. Ixfore takn.ng account of oth¢r r￿QgnIsed gains and105se& was £16,335 (2024: £14.797). There was a sligbi decrease in the inVeStn￿nt inc(xne received, from that of the prior year. but this been compensatcd for by a si8nificant increas¢ in the bank inter¢st rLreiv¢d The overall i￿re￿ has been partially off-set by an i￿￿13¢ in the expenditure. There has been slightly morr stabi lity in Ix)th the UK and global sts)ck markcts since the previous cnd although economic and political uncertainty continues to have an impact on stock rnark¢t values. The valuation increases have continud into the yAr cnded 30 s￿ternber 2026. IM)wever the current situation in ihe middk east Could have an impact on this. The Incorp)ration incurred unrealised gains of £140.856 (2024: £108.022). which are reflected ID the year end valuation. Incorporntion of MertkaAts & Traders of Paigky For the year ended 30 September 2025 Report of the Trustees (co•t'd) Grant making policies and roll Fin2nei21 tsgithee Is granted to applKants approved by the Tr￿st￿S following enquiry as to their circumstances. Thcre was onc Alimentar at 30 September 2025 {2024.. 1). lovutment policy and perforniance The Trustees r¢8ularly review the I￿orpOrali0￿.S inv￿￿ent with Barclay& the InVest￿nI advAs¢f5. The Tn￿￿e8. plicy is to maintsin a balancc bctwccn irKome and capitsl grnwlh. Risk Managemenl Th¢ Trustees have examined the major strntC8ic. business a￿1 0￿ra110n81 risks which the charity faces and confwm that systems have establ￿ed to enablc regular report.% lo be pioduccd so thal the ne¢e&ury steps can tsk¢n to leksen these risks. As part of th¢ process of consi(kring ihe plannin8 for th¢ future Ibelow) the subject of risk is under r¢vi¢w. Rderveg PolKy It 18 the FK)licy of the Tn￿le¢S to maintaln unrestricted fun￿ which are the free reserves of the churiiy, ai a level which equates to at kast six munths unrestricted ex￿XIlIure. This pmides sufficicnl funds to cover mana¥cmcnt and administration costs and to respond to emer8cncy applications for grants which arise from time to time. Unrcstrictd fund5 were maintained ai this levcl thruu8houl the year. Plans for the Futsre The TrustLfS have previously reco8nised the decreasin8 number of alimentar& now &anding at one and are considcrin8 how iu a(klrcs5 this issue. Th¢ obj￿1% of the current Constiwtion place very si8nifieani restrictions on the power of the Tn￿ttt6 to makn awards. The Tn￿le¢S have appointed a soliciior. specialisin8 in the Clwity S¢ct(Y. to draft an amended Constilulion which will be pur to the Members for consideration with a view to increax the ability of the Truslees to broadcn the critcria to grant award& whilst retain the spirii of the 0ri8inal Constitution. It is the inienlion of Trustees to call a rncding of the Membcrs in the Sprin8 of 2026 to tske this matter forwar Struetsr& governance And manatement Thc Incorporation is a long ¢stsblibhrd b￿Y arnl is 8ovenxd by its ori8inal charter. Thc mana8ement of the charity is the responsibility of the Trustees who are listed below. The Truslccs athninistcr th¢ Trum's affairs ai mc¢tings arranged nccessary. bui ai least one meetin8 is held each year. ai which finances are review¢d and ￿c1S1On5 made on the rec ipients of grants. The day to day running of the charity is un4krtaken by the clerk who k¢¢ps in regular touch with the Trustees. Incorporation of Merchants & Traders of Paisley For the year ended 30 September 2025 Report of the Trusteu (coAt'd) Nww Trustees undergo an induction process which helps th¢m to underthd the charity's purposes. financial position and the curreDI ASS￿ faa'n8 th¢ chan"ty. Referenee Ind AdmlNlstratlve Infornmtkjn Convemor W Oswald Collector A Maifx)nald Trustees R J Morrison P Wylie R Waison C Mclaughlan A Johnston Seottlgh Charfty Number SC(K18414 Independent Examiner Paul Craig. FCCA Azets A￿11( Services Limited Tilaniurn I King's Inch Place Rcnfrcw Glaygow PA4 8WF B•nkerg CAF Bank lavestment Advixr BarL"lays Trwt¢eJ' Re4)onsibilities Scottish Charity law rcquircs thc Tn￿le¢S to prcparc financial ststemcnts for each financial year that show a tru¢ and fair vicw of thc of affairs of th¢ chan'ty and its financial a¢tiviti¢s f¢x Ibai ycar. In prcparing ihose financiJl ¥¢al¢ment¥ thc Trusie¢¥ requir￿ to: Select suitsble xcountin8 policies and then apply them consistently, Observe the mrthod and principles in the FRS 102 Charities. SORP; Makc judgements and e5timaie5 Ihal are rea￿)nable and prudenl State whether applicable xcounting stsThlards and siatcmcnts of rccornmcndcd ￿aLlICe have been followed subject to any dcpartures discloscd and explaind in the fuwiciAI stsiemcnt& and Pr¢par¢ th¢ financial statements on the going eoncern basi3 unl￿S it is dcaned inappropriate to presume that the chan.ry will continue in business. Ineorporation of M¢r¢haats aAd Traden of Paisky For the yur ended 30 September 2025 Report of the Trustem (coAt'd) The trustee8 are resp)nsible for keeping accounting records. th* dI￿105e with reasonable accuracy at any time the financial Positi(￿ of th¢ charity and to cnablc thcm to cnsure that th¢ financial stalemcnts comply with the Charities and Trustee Investrncnt (Scotland) Act 2(K)5 and the Charities Accounts (Scotland) Re8ulations 20[￿ (as amended). They are also responsible for safc8uarding the assets of th¢ charity and hcncc for takin8 reasonable stcps for the wevention and detectiL)n of frdud and other irregulan'tie8. Independent Examiner Paul Craig ha8 agreed ￿ off¢r hinKsclf as Indcpctht Examiner to the charity. Approved by the Trusted *•d signed their behalf by W oswald - Convenor 30 April 2026 IAcorporatioA of MerrhaAts And Tra(kn of Pai•ky For the year ended 30 September 2025 Statement of Fihiancial Activitiei Note Incom¢ and elldowmcmts from 2024 Voluntary income Income from investments Bank interest 19.296 19.352 662 Total imcome 22.795 20.014 Expenditurt on C'(A%l u]"rni.iinxfvThJ.% Inv&stmcnt monaALmcMI fLLJ ExpendituR on charitable •¢tivitie8 1,4eb4 3,753 5.126 Totsl expendltsre 5.217 Net income brfore ZAIAS l (loJgeJ) OA investmeats 16.335 14.797 Net 8aiDS I (losgM) on IAve%tment 140,I156 108,022 Net movement IA funds 157.191 122.819 ReconcIli￿/0￿ offvKI¥ Total fi￿d5 IYou8ht forward 1.084,041 961222 Total fuods carried forward 1241,232 1.084,041 The notes on pap 7 10 9 f(yrni prt of the financi*l slal¢m¢nl8 Incorporatioa of MerthaAts & Traderj of Paigley At 30 September 2025 Balance Shttt 2025 2024 Note ixed assets Investments 967.050 lo.￿ 826.194 I O,IMX) 977,050 836,194 Current A99ets Cash at bank Funds in Iwids of Wrighc Johnson & Mxk¢nzi¢ LLP Funds in Iwid of stockbroker 56.859 60.208 190.919 211.793 268,652 251,127 C.reditors: Amounts fAllin8 due in leu than one year ALLIUdl¥ (4.470) (3280) Net Cnrrent Assets 264.182 247,847 Net As*ets 1241.232 1.084.041 Repre￿￿ted by Unrestricted Fund8 1241,232 1,084,041 Approved by the DirKtor3 on 30 April 2026 and signed on their behalf by W Oswald - Convenor R J Morrison . Tru*e The notes on pages 7 10 9 forni prt of these financial statements IAcorporntioA of Merehsnts & Tr￿trI of Paidey AB at 30 September 2025 Notes to the Financial Statements AceountiD£ polieiej Basis of prep*rA¢io• Tbe financial statements have beeD prepared under tk historical cost convention with the exception of qwted investmcnts which are included at markd value. The fina￿la1 slatements havc been prepared in accorda￿¢ with th¢ Financial R¢FK)rtin8 Standard applicable in the UK and Republic of IrclaThl (FRS 102) (effective 01 January 2019). the statcment of R￿ornMended Practice: -Accountin8 and R¢portin8 by Chariti preparing thcir accounts in acCorda￿e with and the FinanciAI Reportin8 Standard applicable in the United Kin8dom and Republic of Ircland (FRS 102)" the Charities and Trusiee Investment (Scotland) Act 2￿5 and the Charities Accounts (Scotland) Rcgulaiions 2006 {as amended) The charity coastitutcs a public eotity as Ikfined by FRS 102. The Tn￿ceS recognise that the current worldwide fllJan¢ial instsbility, alon8 Wlth thc on8oin8 im￿cl ot'thc Curonaviru.s Pan(kmic and will continue to have a significanl impad on the walue of ihe Lharity's invc8lm¢nt portfolio and ￿11 allo impaii th¢ invcstm¢n¢ InLome rcccivabk. Ai this mom¢nt in lime li is nnf p)ssible to ac¢utat¢ly predi¢l whot the lasting impact is of thc events will bc on the ch￿1(y,￿ finarKial T￿ltion will be. The TnLStees cousi(kr that based on current valuation of the invcstmcnt p)rtfolio a￿j the charity's currcnt liquid ￿$1110￿ b¢l •a¥a1￿￿1 the charity's financial commitments over the next eigllleen Mont￿ thc fina￿1￿1 slai¢ments can be preparvj on a goin8 concern basis. In¢on All inLome is a¢¢ounted for on a rK¢ivables basis. IJ Rewurcel expended RcsuurL¢S cxpended are accounted for on an accnwls basis and are rccognised where thcre is a legal or c(xistnKtivc ob1l8ati(￿ to pay for expeNliture. Expenditure is inclusive of any VAT which cannot Ix r￿0v¢red. Clwitable exFnditure relates to Alimentary payn%nts. Govcrnance costs ar¢ costs contributable ￿ statuw c