THE JOPP THOMSON FU)4D CHARrrY NUM8ER- SC009106 RECEIPTS AND PAYMENTS ACCOUP4TS FOR THE YEAR ENDEO 11 NOVEMBER 2025 TAWSE AND PARTNERS 18 NORTH SILVER STREET ABERDEEN AB10 1JU The JOPP THOIISON FUND. SC009106 REPORT OF THE TRUSTEES F(￿ THE YEAR TO 11 NOVEMBER 2025 ChafW$ Addr•ss: Lodingham Chakners LLP S2. Y Rose Stro•t AB10 1FLA ¢urf•nt Trust••s: Rev DavKJ S Hutthi#on-ChaThan of the Trnst Douglas M Watsw. ResS￿d 10 Oecerrt•r 2025 Peter Milknr Sheena A￿derSOn Day￿￿ N Parkinson Thè Dèa¢￿ conver￿ of Sel￿n Inc4ypor8i#d Tr8dBS Icurrenlty Iw Madnloshl nd The Jopp Themson Fund wa5 e5tablishgJ folbhir¥J tr* •mab3amation ofth? Henry &)hn Jopp FLmd and the J8SS18 Ann Thomson Trust approved by thè of S¢ollth Chanty Regulator IOSCRI and is go¥emed by v*tix of a Deed of Trust doted 28 Aw"1 and 7 Jun• 2010. Thg Fund i¥ adMY￿$￿red on behawof thè TNs* by Ledirylwn Chah*rs LLP. 8dKib)rs. Aberdeen. In le￿$ ofthe Trust Oasd. the Tru¥tg9$ hobj the Card aNI irtom8 ol the Fu￿1 for oi MO￿ of wrpos￿." lil The p￿ent￿in Of reltif of and tl* rew ol It*x• ￿ need by reason ol w. ￿ h•ath or di5Bbilty by rn*￿9 availabk finanoal assis&nc8 lo Ihose faW the calagory ol b￿erI)ary $Fetif*d herein orKI having regard to Ihe ¥*wrt of the (XYn￿ Trust Deèjs. {wl And witM)ut proJ"udw* to thè Woing ggnorality lo mako th• fiTharKial W0v￿lon to such amount as the Twstee8 shal in Iheir absohrte dL8crelH)n det•mine haV￿g regard for the nwthr of ￿P￿a￿Tr5 receNed on an annual basis for the b8nefitof Indvjgnt Siryle orwido**d r8s#Jent in the Crty olfvknerdeen aTra Local Government boundary of Aberdeenshire las may by def¥)8d from li￿ to tirnel of olhet goographw21 areas ￿th1Th S¢oUaThJ as thè Tru61888 shal determine and the Trustees sham conswjer apphcations ￿￿￿ed fr4Jn any ￿rStsn wth the mamlen sumame ol Thom50n crf Mlddkton in lo other appkations in the evont of al other ¢¥¢JmstarKes of o)mpetrn9 appltth.ons by equal bul nothir*J ￿tsined ￿thIrt this shall limit the diwjeton of Ihè Tru5188s in delemwnb any or all app1Kal￿S rec8*b￿l. rgg¥d Io Ihe ￿sOu￿+S ￿ Ihe Tn*t liiil Nolhiryj contawi•d wlhin th¢ s￿1 prBSWt tho Tn￿lee$ m&kiThJ fvanc4è1 wijtance availab to $LKh b•n•fi¢iar￿s ￿er single. wwJtrA*d. ot and whethei mab of f￿n•￿ aNJ withtyjidwimination as to their a9e. r￿19￿n of èlhnioty. pfovthd aw Ihat the Trusths are sat￿f*d that al 8ppkcatK)ns rticoiV8d 1811ing wilh the terms and S￿rit ol the onginal Trusl Oeeds have be&A •xhaust8d ar*J that having re9ard to the w￿￿rc*S of t TN8t further assistsnce ts avaikbk to sjjch ￿te￿ on be￿T￿ry as the Tnjstees sham detemiim. in I￿1r absolute di8crebon. as apprcY￿1•. Ilvl 11 Is ewres￿Y dedarBd that the ￿￿¥11 by a i*r*fitsary to5￿ment ￿slan￿ eth•r frL¥n ￿￿traI govamff*nt or lo￿1 aulhorrty sourc*s or stats ber*ffts Sham not b• a bar 10 r8tW Ircffi th8 Tr￿1. THE JOPP THOMSON FIIND. SC1109106 REPORT OF THE TRUSTEES FOR ThE YEAR TO 11 NOVEMBER 2025 R•vlew of • A¢tSvlll•s a In the course of t￿ trust year to 111h Noven*w 2025. Iru518es m•Je 9rnnts tola￿TrY £15.CO)12024.. £28.1001 in res￿1 ofthe annual payn*nt a totsl of27 rE￿i￿r￿j a graTht12024". 281. These grants were m¥do possib again in 2025 due to the use ol xojmulated reserves. ConsKJoraiim wfill ￿ made tc* provKJe further grant assKtsnc* on 8 'rm6-off basv8 rfjustlr￿d by thfr on4oing cost-ol.INwg ¢￿ts. as Ihe weviou5 three years. In the c¢yJrs8 of Ihe ￿aT under the advre gU#la￿ of Inveslment IAan4ets. M4K8r& Co.. ts irwostr))8nts hekl by th• Tru51 have been ietained and as a res￿1 of an acoJrnuLg¢w)n of ￿Ven￿o balance and the éon•lh)n Mentioned above. inveknnts cbsed tt* year at a vahje 01 £892.23612024." £813,642). T￿ wivastmènts continue to perform ￿11 in a turbulènt market to a nuthr ol factors. n¢**lirg ihe onwng war in Ukran* and thè unrest in the M￿dIe Easl The Trustees continue lo lake a kyvJ to￿ vw aTrJ a revw ts undert*èn by thg Twslees wrth thè advico trom the Invg$tment Manayw5 to enswo a balan￿ tthten caprtal and strength, è3ainsl the ￿Uir•M0nl for revanue generation. Ra¥enue frgm inveslments has ￿lahty irwased frc¥n Fwous year Re¥￿ve Irtyn dN*JeTrJs was e35.73812024.. £32,399). Revenue from bart inlarest decxeased to £187 {2024.. £WI. Expe￿Irt￿r6 on govemance and managemnt of the chaty h85 inueased slghty wth W•Vb)L￿ ￿9[$. Thè va￿0 of the invesb7￿ts he￿ by the Fur*J ￿nts"nut tts ¥01gt"lty ofthe ewty mathet but the LAid•tyiry pèrfornian￿ remwns strw, under the managem8nts ser¥iw by ￿ In¥￿tr￿eTrt Marw8rs ¥rilh a liM￿d exposure lo inve51menl yovhying lurther dNerwfutK•n. Briel statemen ollc Thè re59rves at Ihe Year-0￿ totsI￿d £959.40712024". £865.7931. In aft(￿dance vthh lh8 *ms ol the De&1 olThJst. the assets of tho Fund w& appw ￿￿￿$1¥e￿ for cha1rt￿￿ purFoses within the temis of th& Charthes In￿trne￿I$ aryj Tiustees Iscoyandl kt 2LJ)5. Th• Iru•t•M d•¢lar• thal Ilwy hm approv￿ th• truslg••' r•port•bov•. Slon•d on behalfol th• ¢h•rfty¥ InMtw• Trusieg 30 W 2026 Twstse 30A￿"12￿26 Ind•p•ndent Examin•￿8 R•port to the Trust••s of Th• Jopp Th¢>M￿ Fund Independent examinorfs rew)rt on the accounts ofThe Jopp Thoms￿ Fund, charity nurrt)er SC009106 for the year ended 11 November 2025 are sel ¢)ut of pages 4 to 9. R•sp•¢tlve responslbllltl•s of trustees and •xamln•r The charitys trustee$ aro reswnsible for the prgparation of the aceounts in aCcd 12 No¥•Th*•r2023 to 1114o%*mb•r2025 Donalions IncC￿e from Irh¥e$trnwts other Ih8rb Land and &JikliThJ$ Bank Interest 20.Crf)O 35.nB 187 32.399 187 35.925 35.925 53,395 45.098 Totsl RK• 81.023 81.023 53.395 Grants aTrJ Llwti 15.ts 15.0 28.100 In¥88lmenl m•wwnenico 900 Governar￿ CDS IndepeTrJeTht EMamn8tK)n Agents Fees Asse5YWrtJ Le9¥1 Costs (Xher 3.600 21.IXIJ 21. 33,464 Pay￿￿18 ￿ rdalm olAssets and In¥estwl$ Pwchase of fixed ￿sets Pwthase of I￿￿￿￿ents 10 45.LJ)3 45,ts)3 19.952 Tot•1 Payn*nts 86.(Q3 66.￿3 53.416 N•t R•¢•WPayff*nt•l 15.020 15.020 T￿nSf￿ tolfrom Fun 15.020 15.W20 21 The J¢pp TIM)mson Fund SC009106 ststornent ol Balances for Perlod 12 NoVem￿r 2023 10 11 Ilovomber 2025 eriod Cash bank baban¢* al 8tsrt of year 52.151 52.151 52.172 Surplus l {Deficrtl on receipts aryl paymenls accwils 15.020 15.020 (21) Ca•h •nd bank balanc• at •nd of 67.171 67.171 52,151 Investm•nts to r￿a￿st £ lo nearèst £ Unre*rithd 10 892,236 813,642 892.238 813,642 T¢)tal Funds 959.407 865,793 Slgned on behalf of all th• tn*t••8 Trust 30 April 2026 Tru5tee.' 30 April 2026 Th• Jopp Thmson Fund Y•ar End•d 11 Nov•mb•r2025 Now$ to 1. Taxatlon Th& Trust is a ￿gi￿tered aTrJ acc£KdK¥Jty Li frrm OD Is gams *therÈ are applied *Jr 81il8Ne wrposes. 2. IYtsn•Uo 202S 2024 The Ina Scott Ch•it•bbè Fowdati 3. Incom• from Inv•8lm•nts oth•rth*n L*nd and BylkllThg an¢frWrfun- 3570 Income 8NY MdS)n Ne*twk Gknbas. 6.692.4104 IrKc City of LoTrJon In¥eslment T(￿1 p*-12.3500￿ 2 ayeo plc- I.4￿ Ord 28 1011108p DI￿e￿in lficome Gr￿￿h Invesbnent Trusl *- 18,tVJ 2 F & C kn¥e8iment Tntst rk. 6.940 25p Finsbury Growth and Int4Jme Trnst Oc-S.4(M) 25p CJaxo&nthKI'r* plc. 2.080 25p H81eM pt- 2.6￿ OvdiAèry Ip shares JaNs Henderson Glob81 Investors Ilrterestl. 31.629.1700 IrKome JPM Gobal Gr￿￿h a InDJme F￿d- 11,fA]O OrdinffjT Sp Sha Legal a Ge￿ra1 k*- I1.4th) (kd 2.5p Lloyds 88nkMvJ Grwp- 9.362 1Cp spe￿arGrouP FIC. 2.418 1p sh M & G Inve5kn¥ts- S.1￿ Meri*ants Trnsl pk. s,￿ orfin￿25p shares Rio T1￿0 plc- 1.5￿ Ord 10p Sl*ll pk- 2.564 B ordin￿ EuroO.07 SSE W¢. 1,500 (jd 5 Teaco F4c- 5.921 (h 6 1rJp Unilever plc- 1.450 Ord 3 1P3p Vodafone fyoup pk- 10.gJ9 CKI usso.20 2￿1 559 572 2.544 1.102 449 2.5&8 2.475 $83 1.042 936 177 674 451 1.521 2.449 2.352 312 272 87 73 4.325 2,643 2.047 5.070 2.726 2.76S 811 716 2.210 2.136 633 419 32.399 4. Bank Int•r•8t 2025 2024 Royal 8ank of S¢oUarn1 187 187 Non• oflhe Twslees *ere pabj eypEn888 tylhe ttlarftythYiNJ ye¥rl2024-EniD- $. R•l•t•d party traA•a¢*lon• There are rekteil party IrarMac**Jns thJrir*3 Ihe ￿*r{2024". £ fiiLI. The Jopp Thomson Fund Year Endgd 11 November 2025 Notss t¢ Accounts 7. Grant8 and Donation$ 20 Paid Grants to.'- Ajlan, Miss CatriC￿a DKJby Binn￿. Miss H Bimie. Ms Cardi Bumett. Miss Lcrfraine Cowe. Ms Helen Duncan, MTS D Hamitton, Ms Donna Hund8math. Mrs Rc*erta Keith, Mrs A McLeMan,￿.SS D M Main, Mrs S frAaver, Ms L IA MKldlelon. Ms Fiona MKldlelon. Ms Jean￿e Malone, Ms Shirfey Nicol, Ms Emma Rtsager, Miss Jenimfer Shirran. Mrs F &m, Miss F Smart. Miss June Steel8, Ms June Slott, Ms Carol Thomson. Miss A C Thomson. Miss L M Thomson. th.ss Mthele Thomson. Miss Patrioa Walker. MS Lynne Wat￿, Miss Jennrfer Wilson. Mrs Heath 2CM) 200 200 1.2 1.200 200 1.200 200 200 200 200 200 1,200 1.050 1.050 1.050 1,050 1,050 1.050 1.050 1,050 1,050 1.050 1,050 1.050 1,050 250 800 1,000 1.000 200 1,21)0 200 200 1,200 200 1.200 1.200 200 200 200 200 800 1.050 1,050 1,050 1.050 1.050 1.050 1.050 1.050 1.050 1.050 1,050 1,050 Tolal Grants to 8oneficiarkn$ 15,0 28.100 The Jopp Thomson Fund Year Ended 11 November 2025 Notos to Accounts 8. Investment management ¢08ts 2025 2024 Miller and Co Investment Advisory ServKe Management Fee for year to 30 April 2025 gjo 9. Gov•mance costs 2025 2024 oles hartered Aecountants IndepeThJent Examination fee inc & Smith and Partners hartered Acco IndeperKlent Examination fee nlants 1.5CMI edin hmchlm Interim Fee for Administrat￿ (Trust year 202￿024) VAT the￿On Final Fee for Admini8tratw (Trust year 202>2024) VAT thereon S,1C￿l 4.464 reak nof nd revenu• alEx 2025 2024 Investment management Independent Examination fee Legal cost Other 750 432 3,450 3.132 Independent Examination fee Legal cost 750 432 1,8LXI 2.550 2.232 ¢¥ 852SS{-83= 3%#g Jll ¢¥ TX iry •> r4 r èèèè lslllllllillllllllllli ooOuooooooO%