Supreme Grand Royal Arch Chapter of Scotland Benevolent Fund Annual Report For the year ended 28 February 2026 Charity Number SC010082 56 Supreme Gr8nd Royal Arch Chapter of Scouand Benevolent Fund Annual Report for the year ended 28 February 2026 Reference and administrative details for the year ended 28 February 2026 Trustees Wm. Ramsay McGhee John N. Steel David A.C. Niven Eme51 Young an H. Duncan John A Anderson Douglas W Duncan Michael A. Stephen Willi2m Annand Alexander F. Moonie (Flrst fjrond Prlnclpall (Depute Grand Principall (Depute Grand Principall (Second Grand Principall (Third Grand Principall (Grand Scribe El (Grand Scribe El (Grand Scribe N) (Gland Scribe N) (Grand Recorder) (Resigned 19103120261 (Appointed 20103120261 IAppointed 01103120261 IResigned 28102120261 (Resigned 191031261 (Appointed 201031261 Bankers The Royal Bank of Scotland 30 Nicholson Street Edinburgh EH8 9DL Accountants Henderson Loggie LLP Level 5, The Stamp Office 10- 14 Waterloo Place Edinburgh EH1 3EG Investment adviso Rathbones Group PIC 3td and Ground Floor 10 George Street Edinburgh EH2 2PF Prfnclpal offlce 98 Georgè StT@et Edinburgh EH2 3DH Scottlsh charty numbgr SC010082 57 Supreme Grand Royal Arch Chapter ol Scotland Benevolent Fund Annu31 Report for th8 year ended 28 February 2026 Trustees, report for the year ended 28 February 2026 The Iruslees have pleasure in presenting their report for the year ended 28 Februaiy 2026. Oryanlsatlon The Iruslees of the Supreme Grand Chapt&r of Scotland are seven of ils principal Office-bearers and are detailed on page 57. The power to appoint new trustees and remove existing Trustees rests with Supreme Grand Chapter_ Each trustee shall have one vote., but in the case of an equality of votes, the presiding Companion shall have a casting 3s well as a deliberative vole. In most cases the presiding Companion will be the First Grand Principal. New Iruslees are provided with details of the organisalion and ils aclivtties before appointment. SupTemè Cummillee exeTClSe5 a general control over the Fund, acts as the ordinary judicial tribunal of Supreme Grand Chapler with delegated powers and regularty reports all ils transactions for the information and approval of Supreme Grand Chapter. The Iru51ees and Supreme Committee have delegated with instructions lo the Grand Scribe E the role of keeping accounting records for the charity and preparing the financial statements for each financtal period. ObjectNes and activities The Benevolent Fund applies the revenue received from its investrnents and any donations received to charitable purposes and il will also make payment in whole or in part of su¢h retiring allowances as may be granted by Supreme Grand Chapter. Each period the fund will provide donations and grants and these are made al the consent of Supreme Grand Chapter al a slated Convocation. Beneficiaries of grants shallbe members of the Order, their parents, spouses, children or collaterals. Applications for grants must be by Schedule, which is obtainable from Grand Scribe E. Financial review Financial details of the Benevolent Fund of Supreme Grand Chapter are outlined within the accoun15 and can be found on pages 61 to 68. Regarding income, the yield from the porffDlio of investments is down 8.5Y. from the previous year. the dividends are satisfactory in the present maTket conditions. Certain share5 have been sold, the proceeds reinvested In shares percelvecl to have greater poientla5. The Benevolent fund has geneTaled a surplus for the year of £203,734 12025.. 174,2101 mainly due lo the substantial unrealised gains on the ch8rity's investment portfolio. As at 28 Febru2ry 2026, the expendable endowrnenl funds sland at £1,947,215 12025.. £1,743,481). The Iruslees are satisfied with the financial position of the Benevolent Fund and confirm that funds can meet their obligations. Investment policy In accordance wilh the Lonststution and Lows, the Iruslees have the wwer to invesl as they see fit prDvided, they are reasonably prudent after taking professional advice from Rathbones. The trustees maintain the charity funds in an appropriate strU￿ure that can be paid out as required. Reserves pollcy The reserves of the charty are mainly represented by investments, the income from which is utilised in making donations. The Iruslees have the power lo spend any of the endowment funds., however, the fund is used to generate income. Risk management The Iruslees have assessed the major risks lo which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate their exposure to the major risks. Future plans The trustees plan to eontinue with the giving of grants and donats'ons in accordance with the Conslilulion Laws. 58 Supreme Grand Royal Arch Chapter uf S¢oU8nd Benevolent Fund Annual Report for the year ended 28 February 2026 Trustees, report (continued) for the year gnd6d 28 February 2026 Grant making polley Grants from the Benevolent Fund shall be made wrfEh consent of the trustees at a stated meeting. Application for grants must be by Scheduled obtainable from Grand Scribe E and must have already been considered by Lodge and Chapter. Structure governance and management The Supreme Grand Royal Arch Chapter of Scotland (hereafter referred lo a5 Supreme Grand Chapter) GOllStiluted lit 1817 allLI ilb CuribliLuliL)ii ￿[1￿ gvv¥iii ilb vbjgulivgè, 01-gdlllbatioi)al i¥ti uLlure togeth¢r willi legal and administrative arrangements. Related party The Supreme Grand ChapleT consists of two Funds, the General Fund and the Benevolent Fund. The General Fund is maintained by the Grand Scribe E 8nd this receives income annually from the members of the Order. All expenses of administration in relation lo both Fund8 are applied to the General Fund. The Benevolent Fund each period pays over a svm of money lo the General Fund towards administration costs of the Order and the maintaining of the accountancy records of the Benevolent Fund. Statement of trustees, accounting responsibilities Under the Conslilulion and Laws and legislation relating to Charities in Scotland, the trustees are required lo prepare financial statements for èach financial period that give a true 8nd fair view of the slate of affairs of the Charity as al the end of the pellod and of the surplu5 OT deficit for that period. In preparing those financial stalerrTen15, the trustees are required to-. Select suitsble accounting Policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., Stale whethèr applicable accounting standards have been followed subject to any material clep3rtures disGlosed ?nd explained in the financi31 ÉtatementG', Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The trustees 8re responsible fc)r keeping adequate a¢¢ounting recDrrSs which disclose with reasorlable accuracy al any lime, the financial position of the Charity and which enable them lo ensure that the accounts comply with the Charities and Trustee Investment (Scollandl Act 2005 and the Charities Accounts Iscotlandl Regulalioiis 2006. They are also responsible for safeguarding the a55ets of the ChaTity and htnct for taking reasonable steps for the prevention and detection of fraud and other regularib'es. Provision of Inlomiation to Independent Examiners The Iruslees at the date of approval of this trustees, rèport confimi Ih8t, so far as they a￿ individua15y aware, there is no relevant audit inlomiation of which the independent examiners are unaware,. and each trustee has taken all the steps that they ought to have taken lo make themselves awa￿ of any relevant audit information and lo establish that the ch8rity's independent examiner is aware of that infomiation. On behalf of the Iruslees John A Andarson. Grand Scribe E Tnjstee 23 July 2026 59 Supreme Grand Royal Arch Chapter Dr S¢otyand Benevolent Fund Annual Report for th8 year ended 28 February 2026 Independent examiner's report to the Supreme Committee of the SupremeGrand Royal Arch Chapter of Scotland - Benevolent Fund I report on the accounts of the chartty for the year ended 28 February 2026 which are set out on pages 61 10 68. This report is made lo the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me lo report my opinion as set out below and for no other purpose. To the fvllesl exienl permilled by law I do not accept or assume responsibility to anyone other than the charity and the trustees, as a body, for my work or for this report. Respective responsibilities of trustees and Èxaminer The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and trustee Investment (Scoilandl Act 2005 and the Charities Accounts (Scollandl Regulations 2006 las amended). The charity trustees consider that the audit requirement of Regulation 10111 lal to Icl of the Accounts Regulations does not apply. 11 is my responsibility lo examine the accounts as required under section4411 Ilcl of the Act and to stale whether particular matters have come to my attentlDn. Basis of independont oxaminer's statem¢nt My examination is carried out in accordance with Regulation I l of the Charities Accounts (Scollandl Regulations 2006 las amended). An examination includes a review of the aGrounting records kept by the charity and acomparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such malleT5. The procedures undertaken do not provide all the evidence that would be requlred in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Indepondont examlner'8 Statement In the course of my examination, no matter has come lo my atlention.. which gives me rèasonable cause lo believe that in any material respect the requirements., to keep accounting records in accordance with Section 44111131 ofthe 2005 Act andRegulalion 4 of the 2D06 Accounts Regulations las amended)., and the prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations las ameneedl., hAvp. nnt h&*fr_n mg.t nr lo which. in my opinion, attention should be drawn in order lo enable a proper understanding oflhe accounts to be reached. Jaslin Bhagrath CA Partner Forand on behalfof Handerson Loggie LLP Chartered Accountant$ Level 5. The Stamp Offlce 10- 14 Waterloo Place Edinburgh EH1 3EG 23 July 2026 60 Z5 t¢D c ot ao £Lhkn wcÉ¢J Supreme Grand Royal Arch Chapter of Scotland Benevolent Fund Annual Report for the year ended 28 February 2026 Benevolent Fund Balance sheet as at 28 February 2026 2026 2C26 2025 2025 Note Fixed assets Investrnents 1,542,415 1,335,666 Current assets Dcbtorts Cash al bank and in hand 24,713 386,536 15,289 398.825 411,249 414,114 Credltors.. amounts falling due within one year 3,1501 13,0001 N8t current assèts 408,099 411,114 Net assets 1,950,514 1,746,780 Fund? Expendable endowment funds Restricted funds 1,947,215 3,299 1,743.481 3,299 1,960,614 1,746,780 These financial slalements were approved by the Trustees on 23 July 2026 behalf of the Truste First Grand Principal Gran Scribg E e annexed notes, on pages 63 10 68, form part of these account 62 Supreme Grand Royal Arch Chapter of Scotland Benevolent Fund Annual Report forthe year ended 28 February 2028 Benevolent Fund Notes to the financial statements 1. Accounting policies Basis of accounting The Supreme Grand Royal Arch Chapter of Scotland Benfyvolent Fund is a unincorporated Scottish charsty It is registered with the Office of the Scottish Charity Regulator IOSCRI under charity number SC010082. The financial slalements have been prepared in accordance with the Charities and Trustee Investment Iscotlandl Act 2005 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wfih Financial Reporting Slandarr2s applicable in the UK and Republic of Ireland IFRS 1021 The charity is a public benefit et)tity as defined by FRS102. The financi81 statements are prepared in £ Sterling which is the functional currency of the charlty. Going concern The trustees have considered the future prospects and funding for the charity and believe the going concern basis lo be appropriate for the preparation of these financial statements. The principal accounting policies adopted in the preparation of the financial statements are as follows. lal Incoming resources All incoming resources are included in the Slalement of Financial Acb"v(cies when receipt is probable. the charity is legally entitled lo the income and the amount can be Quantified with reasonable accuracy. (b) Resources expended Resources expended are included in the Slalement of Financial Activities on an accruals basis, inclussve of any VAT which cannot be recovered. The charity makes a conliibulion lo the General Fund towards adminislralion eosls of the Order and the maintaining of the accounting records of the charity. The contribution has been allocated between support sts and governance costs with audit and accountsncy costs being allocated to governance. Ic} Investments Investments are included al market value al the year end. Realised g8ins and losses, representing the difference between sale proceeds and market value al the previous financial period end, or purchase cost if acquired during the financial year are deatt with in the ststemenl of financial activities. Unrealis$d gains and losses, representing the movement in the market value ol inveslrnents over the financial year, or from their date of purchase if acquired duTing the year, are dealt with year in the statement of financial activities. 63 Supreme Grand Royal Arch Chapier of Scotland Benevolent Fund Annual Report for the year ended 28 February 2026 Benevolent Fund Notes to the financial statements (c(MtinuedJ FRS 102 requires the disclosure of infomiation in relation lo certain investment risks. These risks are set out by FRS 102 as follows: Credit risk.. this is the risk that one paty to a financial instrument will cause a financial loss for the other party by failing lo discharge an obligation. Market risk.. this comprises currency risk, interest rale risk and other pri￿ risk. Gurrency risk.. this is the risk thai tho fail value or future cash flows ot a finanoal asset will fluctuate be¢aLJ$e of changes in foreign exchange rates. Interest rate risk- this is the risk that the fair value or future cash flows of 8 financial asset will fluctuate because of changes in market inleTesl rates. Other price risk.. this is the risk that the fair value or luture cash flows of a financAal asset will flucluale becausè of changes in market prices {other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or ils issuer, or factors affecting all similar financial instruments traded in the market. The Charity has exposure to these risks because of the investments il makes to implement rts investment strategy. The trustees manage investment risks, including Q￿di1 risk and market risk, within agreed risk limits which are sel taking into account the Charity's strategic investment objectives. These investment objecltves and risk limits are implemented through thè investment manager agreements in place with the Charity's investment managers and monitored by the Ituslees by regular reviews of the investment porrfolios. Further information on the trustees, approach lo risk management and the Charity's exposure to credit and market risks are set out below. Cr¢diTt Rl$k The Charity invests in pooled investment vehicles and is therefore direcdy exposed lo credit risk in relation to the instruments it holds in the pooled investment vehicles and is indirectly exposed lo credit risks arising on the financial instruments held by the pooled investment vehicles. Analysis of direct credit risk Direct credit risk arising from pooled investment vehicles is mib'gated by the undertying assets of the pooled arransements being ting-fenced from the pooled manager, 1he regulatory envlronmenis In which the pooled manager operates and diversification of investments amongst a number of pooled arrangements. The trustees carry out due diligen￿ checks on the appointment of new pooled investment managers and on an ongoing basis monitor any changes lo the regulatory and operating environment of the pooled manager. Pooled investment arrangements used by the Charity comprise aulhorised unit Irusls. Currency rlsk The Charity is subject to ¢urrency risk because some of the Charity's investments are held in overseas markets. Intgrest rate risk The Charity is subject to interest rale risk through invesknents comprising bonds. Otherpri¢e r7sk Other price risk arises principally in relation to equiti8s held in pooled vehicles. The Charity rnanages this exposure to other price risk by constructing a diveise porttolio of investments across various markets. 64 Supreme Grand Royal knh Chapter ol Scotland Benevolent Fund Annual Report for the year ended 28 February 2028 Benevolent Fund Notes to the financial statements (continuod) Fund accounting Expendable endowment funds relate to funds held in investrnents, which are available tobe spent at the discretion of the trustees. The purpose of the funtls being to support Ihegeneral objectives of the harity. Restricted funds are subject to restrictions on their expenditure imposed by the donor orgrant provider. Donations and legacios 2026 2025 General donations Legacy 810 55,207 56,017 Income from investments 2026 2025 Income from investnlents Dividends from investrnent Bank interest Other investment income 36,636 3,933 247 40,012 4,597 40,816 44.609 Expenditure 2026 2025 Raising funds Investment rnanager fees 9,997 9,500 Donations andgrants- unrestrlcted Marie Curiè Macrnillan Cancer S,ODO s,000 10,000 19,213 3,150 Support costs- Contribution to General Fund Govgmènc8 costs- Independent examinab.on and a￿ountan0Y 15,573 3,000 32,363 18,573 65 Supreme GTand Royal Arch Chapter ol Scotland Benevolent Fund Pnnual R8POrt for the year ended 28 February 2026 Benevolent Fund Notes to the financial statements (Gontinuedl Fixed asset Investments 2026 2025 Market value at 28 February 2025 Add. Acquisitions at cost Less". Disposals at rnarketvalue 1,335.666 179,054 1170,7571 1,258,816 154,850 1171,4161 Unrealised gain on revaluation at 28 February 2026 198,452 93,416 Market value at 28 February 2026 1,542,415 1,335,666 Cost 1,113,415 1,099,028 List of fixed asset Investments Market Value at 2810212026 Sector UK Fixed Intere* Other listed Investment5 1 $8,303 1,384.112 1,542,415 The trustees consider individual investment holdings in excess of 5% to be material. Falr Value 2026 r*lr Value 2025 14laterlal Interest JP Morgan ETFS Schroder Unit Trust Schrod8r Asian Incorne 84,874 92,396 64.661 Dobtors 2026 2025 Amounts due from the general fund Accrued interest 24,713 1 5,221 68 24,713 15.289 66 Supreme Grand Royal Arch Chapter of Smdand B8nevolent Fund Annual Report for the year ended 28 Febru2ry 2026 Benevolent Fund Notes to the financial statements (continued) Creditors: Amounts falling dug within one year 2026 2025 Accruals 3,150 3,￿0 Funds At28 February 2025 Gainsl At28 ILoBse81 Transfers February 2026 Income Expèndlturè Expendable endowment funds R8Stiicted funds.. 1,743,481 40,816 142,3601 205,278 1,947,215 Woodland Trust 3,299 3,299 Totsl funds 1,746,780 40,816 142.3601 205.278 1,950,514 At29 February 2024 Gainsl (Losses) At28 F8bnJary 2025 Income Expenditure Transfers Exp8Trdable endowment funds 1,569,271 100,626 128.0731 101,657 1,743,481 Restricted funds.. Woodland Trust 3,299 3,299 Total funds 1,572,570 100,626 126,0731 101,657 1.746.780 The Woodland Trust Scotland works to plant and halt the loss of nalivewoods and t￿es, restore exisb'ng woodland to peak condition and halt loss of ancient woods. 67 Supreme Grand Royal Arch Chapter ol Scotland Benevolent Fund Annual Report for the year ended 28 February 2028 Benevolent Fund Notes to the financial statements (Gonlinu&d) Analys18 of net assets between funds Expendable èndowment funds 2026 Restrleted Funds Total funds Investfflents 1,542,415 1.542,415 Net current assets 404,800 3,299 408,099 1,947,21S 3.299 1,950,514 Expendable endowment funds 2025 Restrided Funds Total funds Investments 1.335,668 1,335,686 Net current assets 407,815 3,299 411,114 1,743.481 3,299 1,746,780 io. Trustees, remuneration No Iruslees are remunerated. The Grand Scribe E receives an annual salary for the performance of his duties Set out in the Consts'lulions and Laws, from the General Fund. Related party During the year the charity made 8 payment in the sum of £19,21312025.' £15,573} to the Gener81 Fund toward administratron and governance costs Df the Order and the maintaining of the accounting records of the Benevolent Fund. Included in debtors are amounts due from the General Fund of £24,71312025.' £15.221). 68