W&CA DA041￿(*X)2 Cfv4rlliesNty.50)15935 IBU5TEEY ANNU￿11EPoftl DAttovpirs FOR THE YEAR EN0E08￿TO&Eft 202S THE SCOTh.DAVIDSON CHARrrABLE TRusr Report otthetnAt4es forthe ye¥ended 8Ortober2025 Referefi￿ and admlnlstratlve Infornmthin Truslees Lord Donald Graham FSona Turnbull Helen Mary Buch8n8n Da￿d Stevrart Leslie PrFnclpal OFnce and Solltltors Mitchells Roberton Solicliors George House 36 North Hanover Street Glasgow fj12AD Charfty Number: SC015935 kers The Royol Bank of Scotland PLC Glasgow Clty 8ranch 10 Goréon Street Glasgow 613PL Inveslmènt Adviser Rathbones InveslmÈAt Management George House 50 George Squa Glasgow G2 IEH ThE sco￿-0AVItssON CHARITABLETRUST R￿￿1 ofthe tru51eu forthe ¥e¥ended 80clolw 21n5 Icontd. The Ttustees present thelrannual report and flnarKral statements of the charitable trust for thÈyear ended 8 October 2025. In prevlrAJs year5 Ihe accounts were p￿pared on a Retelpts and pa¥Th￿ts ba￿5. Thos ¥earthe account5 have been prepared Dn an aCCTuals ba5￿wIth the 2024 Comparatives represented In a comparable fornièt. The fl￿ndal statements have been prepared Tn accordance wth the accountln8 p)Ilcles, wlth the gccounting poll:le5 Set out in note I to the aCCO￿ts and ¢￿￿V the ehartvs trust deed, the Charfties and Trustee Investment IStDtlandl Act 21Y)5. The CharIt￿S Accounts (Scotlandl Regulations 2006la$ amendedl and Accounting and Reporting by Charhles: Statement of Fte¢ommended Pf&rtite applicable to charities preparin8 thelr acc¢)unts In accO￿ante with the the Flnanclal Reporti￿ Standard appliCa￿e In the UK and RepuNic of IfeLand IFRS 1021 IEffÈthive I january 20191 Structure. go¥ernanc• and manazemnt Foundl Documents and Trustees The Scott￿3VIdSon Charftsble TnJ$t Is an unIntOT￿r3ted charIta￿e trust establtshed In 1983 by the late Walter Wllliam Scott-Dawdson in temis of hi5 Trust DisposltSon and Settlement dated 12th August 1983 arbd rrfteen relative Codiuls. The main tharitable provlsions are contained the Codlcil dated 16th No¥ember 1986. The Trustees are appointed In accordante wlth the termsth the Constituent Trust Deed. Durlng the accountkng year reported on the Trv5tees were:. Lijfd Donald Graham Fiona Turnbull Helen Mary buchanan Davld StÈwart Le51ie Rlsk Mana8ement The irustees have ¢onsldered the major risk5 to whkh the charitable trusi15 exposed. They have re¥iewed those rr5k5 and e5tab115hed systems and procedures to manage them. Report ofthe trusttts for the Trr¢Trded 8 Ortober20ZS IContd.I Obie¢tl¥es and acllyltles The trust Purpose speclfied In thefounding documents is to PrO￿de for paymentolthe whole or such part of the fveé income of Trust as the Tru5tee5 in their absolute dlscretion may from time to timé dècide for such tharttable purposes including payments to orfor the benefit of individuals or to such tharitable institutions, socSetles. foundations or fvnd5 as the Trustees in their ab501ute discretion select. The Trustees also have fijll power at their absolute dis¢retKm to encroath upon capital if necessary. Grant m4kkn8 popry The TNstees award grants in accordance with the Trust ()eed. Ath1¢￿￿ents prHI performance During the year to 8 October 2025 expenditure on tharltable athitles was £15,910 tompared wrth £22,0￿for the previou5 year. The TrusteE5 have undertaken and wlll continueto undertake their customary range of activities èll of whlch are Sn accordancp with thetern￿ of the Trust. Fln3n¢lal Review Investment Income 8ri5tn8 durtn8 the year totslled £20.702 Ipre¥ious year£23.0351. Investment poll¢y I￿1 perforn￿nce In terms of the found1￿ documents. the Trustees are empowered to Invest the tnJ5t funds or lend the same on the securkty olany heritsble or real property or any stotks or shares or other *curltfres whethèr autl%)rtsed by law for Investment bytrustee5 or not. The strategy adoptèd by the Trustees is to protect the urbJerlyinÈ ￿l￿e of the ¢3pltal whllst fotU$5inB on generating income to allow the charityto attaln its oblectlves. Inve5trnent decislons are made by the Trustees after consultstion wth, and on considerin8 the advice of, the Stockbrokers who are aware of the ￿rat￿Y adopted. The Stockbrokers prepare valuali(M$ and reports annually. The FX)rtfolio is reviewed regularly, Reser¥es pollcy TheTrustee5 retaln sufficient reserves to ensure that it Is able to meet its ovetheads and objectNes. THE $CO￿.DAVIDsON CHARITABLE TRUST Reportof the trusteeslorthe ￿ar ended 8 0(tob¢r 2025 (Contd.) Trnstees. responslbititles In relatlon tothe finandalstatements Charity law requires the Trustees to preparE or have prepared on their behalf Accounts for each flnancial year which give a tn* and fair view of the state of affairs of the Trust and of the Income and expendlturè of the Trust for that perbd. In preparing those accounls. the Trusteesare required to=_ select sultable accoun￿ng policles ar)d then apply them consistentlv make ludgements and estlmates that are reasonable and wudent prepare thè Atcounts on the ongoing concem ba51s unless it Is inappropriate to presume thatthe charitable tn￿WIll continue in exlstence,, The Trustees are responsible for keeplr8 proper accoUn￿ne records whkh dlsdose wlth reasonable accuracy at any time the financial po￿t￿n of The Scott-Davldson charitable Trust and to enable them to ensure ihat the accounts compty with the Charitles and Trustee Investment Iscotlandl Art 2(X)5 and the Charilies Accounts (Scotlandl Regulations 2006. las amended). Thev are also responsible for safe guarding the assets ofThe S¢ott-Davidson CharTtsble Trust and he0￿ for taklng reastsnab￿ steps for the prevention and detertion of fraud and other IrregularStles. Apprgved by the trustees on /*1, Date and signed gn thÈir behalf bv Da￿d Stew Trustee THE SCOTh.DAVIDSON CHARITABLE TRUST INDEPENDENT EXAMINERS RÉPORTTO THETRiISTEE5 OF THE 5coYr-DAVID50N CHARITABLE TRusr YEAR E14DED 8 ocfo8ER 2025 I report on the xcounts of the Charity for the year ended 8 Ortober 2025 which are set (Mrt on pa8es 7 to 13. Re5pectlve r•sponslbAStles of tru$tees and examiner The Charfty'g Trustees are responsible lor the prepar4tlon of the accounts In accordance with the term5 of the Charities and Trustee Inve￿ment {Scctlandl Att 2005 and the Charities Accourbts (Scotlandl RegU￿tIOnS 2C#J6 las amendedl. The charity's trustees conslderthat the audit requ1￿ ment of Regulatlon 101111(Jl of the 2006 Accounts Regulatlons does not app￿. It Is my fesponsibility to examine the accounts as required under sectDn 4ql}Icl of the Att and to state whether particular matte15 have come to my attention. 8asls of Indtpèndènt Èxamknerfs statement My examination is carried out in ac£ordan¢e Regulation 11 of the 2006 Accounts Regulations. An examination includes a revlew of the accounting records kept by the Charlty and a comparlson of the accounts presented wlth those records. It also include5 conslderatlcn of any unusual item5 ordisdosures in the accounts. and seeks explanation5 from the Trustees COn￿mi￿ any such matters. The procedures undertaken to do not provide all the evidence that would be required in an audlt. and ¢onsequentfy I do not express an audit opinion on the view gfven by the accounts. IndeperNlent wmlnerf5 Statemw In the course of my examination. no matter has come to my attention l. whith glves rne reasonable tause to believe that in any matedal respect the requlrements.. to keep a¢counlln8 records In accordance with Section 44llllal of the 2005 Act and Regulation 4 of the 2￿6 Accounts Regulations and ta prepare accounts which accord wlth the accountlng records and compiy with Regulation 9 of the 21X)6 Accounts Regulations have not been met. or THESco￿.-DAVIDS0N CHAR ThABLE TRUST INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OF THE sCOTh￿lAvIDs0N (IIARITABLE TRU YEAR ENDED 8 OCTOBER 2025 2. to which, in my opinion, attention should be drawn in orderto enable a proper understanding of the accounts to be reached. Andrew B Wilson CA Independent Examiner Nelson Gilmour Smith Chartered Accountants Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB THE sCOTh•AvID￿ CHARITABLE TRUST Slatsm•rt of Anandal A¢tl¥ttles fDrtho year ended 8Ortober2025 Total Fund5 2025 Total Fund$ 2024 Nrte Income and endowments: lrnvestment In¢ome 20.702 23,035 Totsl Income 20.702 23,035 EXpen￿rtUre on: C05t of ralslfig funds Investment rnana8ement costs 5.547 5.515 tharitable xtivitlès Charftable donation5 Svpport costs 15,910 2,700 1,800 Cost of grant maklnz 18,610 25.800 lotal ￿pendIt￿e 14.157 29.315 Net 8alnslllossesl on Investments Net lth)vernntln Funds 9(c 33.475 30,Q2D 59,927 53,647 Re¢ondlFatlon ofI￿d&. Tatal Funds biou8ht forward Total Funds carrSed f0Th4aTd 681.467 627,820 711,487 6BL467 The nvte5 on pages 9 to 13 lorm part ofthese accounts All incorne and expendlture derive from continuing activirles THE scO￿.DAvID$0N CHAftIYA8LETRusr Balan￿$heet a5 at 8 October 202S Total Funds 2025 Total Funds 2024 Flxed 055ets: Inve5tmerrts Total Flxed Assets 9(bl 667,212 640,501 667,212 640,501 Current assets: Cash at battk and hand 46.975 42.766 Totsl Cunent Assets 46,975 4Z.766 Llabllltles.. Creditors falllng due Trmthin one yéar io 12,71Kil 11,8c(II 44.275 40,966 Nèt Current Assets Tot•1 assets less on rtvaluatK Mathetvalue as ai 8th Ortober 7025 640.501 237.335 1226 315 15,691 667212 S80,341 179,388 I163,6￿) 44.382 640,SLII Nrtllossosllpkns In¥e5tmEnts On&isposalsas atrhwe On re¥aluatlcffl 35 ab￿e 24 17.784 15.591 33A75 ,545 44.382 $9.9Z7 Hlstodtal Cuyt•t8th O¢tober 2025 560W S>7920 IQZ4 trheils Roberlm it Ne150n Gllrnouv knilh