The Nornun Fraser Deslgn Trust (thwity Ref No: SC013111) A(xounts Rewrt ￿ Tr￿geeS OiW2391Jl Fax.. 013822022L by Trustees for th• y•wto 30 X125 Janes H¢XlSton M E¢*xaiv)n E￿L￿at￿￿ May 2028 May 2028 May 2029 May 2029 May 2026 May 2026 May 2029 May 2029 29.12.201S Asxwj 13.12.2019 ASW￿ 13.12.ZD19 AssLTrJ 17.12.2020 SSLYrna 19.03.2021 Prof Oavvj John Black￿*0￿ 0￿￿] AThJrew Wet6ter en'an John FfaT Nicfv)Lès frar￿￿ Ir#Jhs AS￿￿1 JQOP2024 As stiwlatd in the Trusi Oe•J. we to t* at Iw51 Tntstee5'. InthJYyl* Twstee5 upulw. rKeferatAy in an CL￿￿Y, hè¥ing kYmop4 ¢*e Lrf tsJs¥*ss io lrtyoath in or ￿le r•thus thero*., Edu(atK)n* Tn&eÈs each tUmLty (Y emktyj ￿ •) Eryine*rK4 relaied holding a Cholr d Wirwj ai a In5tibikn of Fwiher EthK•tyon,' ￿ a Tm5tee, a 5dKiior wiul re￿[ experience of a fill k￿￿ £trtsknte CY aiy i￿e of the issrtd Law iety of or •y 9J¢¢￿r to TrL&¢es be arry¥)tsJ Icf a not exc*Jr¥J flw I￿5, bJt te digt4e Iw rtraptt4nMt exm cl ￿ s*J Fwc¥J. for reaFpynfftnt cn the ewry ofthe Thr￿t￿6 L•¢4 LLP, JJ Ye•rw ikn*e COI 4BJ. Dawd Tawor, prnr, Loth LLP, J) CK)14Wa. otttsh 14).. SC 013111 Deed ol Trust oaied ioth c*c•ts 196& OSCR on 7 Jurt 2013. The Ih'$a￿ lal 10 the (Wsdthe Tnst Iwhl* rnjintsning Th• Norman Fr•s•r 0•5ion Trust Tre c• Ir* ihe fdd ty the k¥Ohtsb)n ol finarKe tn the t¥JildMvJ, t*4thThJ, or or r*L4tmt L* or staff for a F4¥e or plrn for the IMI Ifi thè fry•m fjw, Trwtets *wll wrfettwed th5uet¥￿ to convTht Try￿ fuK 10 to the Dther as may not be reouwed to Kcwnt to The dty.ttrday alThThstration s carried ¢yJt ty Thyntrro w LLP. as fry #* Tn￿ The Tru5tttt n%et as Thue are no res11th￿ in the Deed on the tntstets. iTr*st. is kng temi, to • ￿thUM risk Ounrvj the t[￿ling 01318 (WZ4. I649￿) p*1 C• of the The Ilorfflan Fraw De51gn Trust Ouring the year en&d 30 Sertetyts 2014 o5h to Iuxoxmr￿tety f%.(th we Dav￿ Barnet Chrth's Tn¥t CWI rEFffwlry 5.3* P4rn Fraser Trust a5 at Septertu 2014. The trL*ees ha¥t re%1￿{) that the frrm T)￿r be a le￿91a￿j fuTrJ to te us*J wmarly Tre trustees fijrthw io èJlustir¥J fty fL*ure the atr*r the m•n trthÈ ￿T fvnd. the SJ% t*we t¢ L*1 t4 *JthiMre ty% ¥&wof shwe d the tru￿$ Ir￿￿. The re&Jtts fty the yw •r¢ 4% $¢1 PwE5 64r¢ 7. reser￿ ol tre thwate frrm Ihe tèwex an •sJ*thal tWL*St cl the al Nrxrr*n Fraser's 1964 TrLtsi IthLts tr*Atsferred 8amÈt (Yrfi*e% Tr￿t tcqth %Mth in v¥ue d Inves￿￿5 and The W of free )$ * 30 SeJw*Ar 2025 ￿ El.135,SSO12024 . ÉJ.13IS8IJ, thus.. 20 2024 G&)erèl 0 6 Fwxl LI)60,726 13 $50 1 133 584 QJ/O£/J 26 The rlorn￿n Fraser De*n Trust IndepeTrJert Examlnerfs Reytto the Tn￿te¢S of the N(rnn Fraser Deslgn Trust I &) Mt accept or re5wry4tr4htytrt rAher 45 1 tr#yty, rrty or fry tri5 rwL The trustees are the rryjarakn of the ￿r￿lrrtS in actrrfthnTr wlth the term5 af thp ch￿￿?5 Trnstse tment Iknuandl *£t 2tl)5 and (har**S kccKffjis IScrth*ll 2(¥J6 las amwtsjl. The trusw cL*)swJ that the rewyernert 10(11 Idl c* ts 2(￿ Aawits Lkx5 Thx atth. Ir L% my to mine the r￿lled Sett￿ 44(11 Icl cl the and to s¢aie partuL¥ matters ro rny attenuon. My examI￿ti￿) is caritd tyjt in *ith 11 rf tr¢ lrtttyjnis Istadandl 2[￿6 las xxAd tre rewred In ￿ auJL I thj nrt ew (Pkn￿ 01 gi¥w ty the ￿¢￿￿ts. tD keep recortL4 ki KctydJrKe *4th 4411) lal d Ihe 2ts)5 Act ReQ￿a￿On l ol ihe Accounts Rea￿al￿5 n¢* Lw rreL (x The WL*on 20 Grt￿ff￿rket ODI 4Q8 The Nornwn Fraser DeslgTr Trnst 2025 2024 I3￿34 26.659 Tot¥ rttdpts 29.551 75.476 7,919 14,68J AI ICrfKrf¢I fty The Norfflan Fraser Ileslgn Trust 2015 2024 surp￿ I (c*￿￿) fry 022 As valuthl èt 30.LTr325 1 123 970 E¥ilm•t•d Ll*lllllu M •t 30.09.25 Thomtl)li% Law LLP, W•rKe fee5 10 >).09.25 6,001 726 PAthbJ￿, wtfc4b) ManW￿ lets ￿ ￿.L￿3.25 Ab￿¥ Urd*Trty, stw*n15hp fvl 2,556 OJ /OC/202g 2S 2024 Schedule I 13,712 112 26,427 232 Sd*dul• 2 Chwlt•bk k¢lvllle¥ ristrlbutsL¥￿ made In year. UHI. 4 Sthknhipaw•tsof £i.r t*rtay Uni*ryty, 6 Schdarshy w4wd5 cl El,[ rtay Unis*&ty, Pawi CPT unfve￿ty of ftx 41.559 IIOIA 21318 61,933 &Jtpyt ccéts (Sc￿e 31 S(h•thJ* 3 Support C￿ts 2025 T•¢•1 Th￿nIC￿. of th* fee frA7 Tn￿ p)Sts the ye¥ ty 30.C8.241*rt VAT) 922 922 311 311 11022 ¢DrrffiWY4 ¢t¢. ftsT It• to 30.CIJ.25I￿ VAn 2024 Tcé ctrmmissixts. ￿￿t$ eic lor the )tar to Xl.09.23 VAT) eit. fLY ￿ar tD 30.(8.24 IM*VATI 9A63 19.326 $20 520 20 20 SupportCo•ts (￿nt) TnL5ths e¥wstsfrurb thETrwt the yto 30Sertath 2025 ID tr* ￿n5.80(2D24- r￿ne1. Inistra￿ oltre tmSt12024- E27,LW61. $the￿I¢ 4 2025 2024 9.876 S(h•&Jh 5 2025 DKr Fur Totsl 2157A pail in (21311) {2lJl•) {l>efic￿yS￿rI￿ lor (6.597> (5,717) Balar￿ as * ￿.05.21 75 Ag O*•Ke os •t 30.(8.25 672 hedde 5 sts¢¥r*ntef as at 30.CV)24 2024 Ma Fwd 1,413 26fi59 o￿tri￿j￿$ 161.933) 161,9331 718 IDeficitygJ¢rl￿ fr* 149.5121 695 48,8L71 BalorKe as at 30.09.23 125 331 a5 ￿ X).09.24 10 Trusw ccffib.n￿0 cl a5 ¢JebbY in Rry*yt of the trLOtee5 in these ALtounts. c*) sèn* bèsts as t￿1*r￿d Ihe IrNestn*nt SeMce5 of I4￿e￿)ent 5tDE4 4.M**l Ll¥JJ *? T￿eA￿l IM*4Gr )IiQii}W5 i¥iirM￿ Itss • ( y) 15.Iy57 i•.YX•* MEP45AGMP4 5hw{PAWI RÉITrtC Iporihvv IWAX At14TOKIL IhlTIALIX¢ 471 )) Cots CQuCOVx￿ JOV>)1s HtIMES IrwESTMEMTMGMT us $m￿t•￿Ill 5JTr.4P &45S

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