THE MINING INSTITUTE OF SCOTLAND TRUST ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 Churit Number SC024974
THE MINING INSTITUTE OF SCOTLAND TRUST TREASURER lan Purdie 25A Rugby Road Kilmarnock KAI 2DQ SECRETARY Martin Downin¥ l Almond Cr¢s¢ent Comrie Crieff Perthshire PH6 2PA BANKERS Virgin Money 27 George Street Edinburgh EH2 2PA STOCKBROKERS Rathbones l O George Street Edinburgh EF12 2PT ACCOUNTANTS Jamieson Campbell Kerr Limited Chartered Accountaiits 14- 15 Main Street Longniddry East Loihian EH32 ONF
THE MINING INSTITUTE OF SCOTLAND TRUST REPORT OF THE TRUSTEES The trustees present their report and the accounts of Ihe trusi for ihe year to 31 December 2025 which have ken prepared in compliance with current statutory requirements and with ihe ¢harity's goveming instrument. The trust has been granted charitable status by HM Revenue & Customs. Prin¢ip*l Activities The principal activities of the trust are lo provide a general mining education and benevolence, invluding scholarships. to fornier Inembers of The Mining Institute of Scotland or members or fomier members of the Institution of Mining Engineers resident in Sco(land and to their dependants who are in need. In order to further the trust's charitable objectives, the trustees invest the capital and relained surpluses. The income generated from the investm¢nls is applied in a¢cordan¢¢ with the trust's governing instruinent. Trustees The trustees of the trust during the year were.. - N Baker (resign¢d 27 February 2025) S Bedford M Downii)g M Friel Dr A Gardiner R Laird S Petrie I Purdie The following were ¢O•OPt¢d during lh¢ year.. - M Loh (appoinl¢d 27 February 2025) W Mccartliy R PaLII (appointed 30 (kiober 2025) Prof B Smart Review of activities During th¢ vear the Educational Fund generated a deficit of £38,050 {2024'. £29,224). The Benevolent Fund generaied a deficit of £1,398 (2024: £277 surplus). Charitable distributions were made from the Educational Fund amovnlin8 to £42,210 (2024: £36,812). Distributions were made from the Benevolent Fund amounting to £3.522 (2024: £3.533)- During the year £25,000 (2024.. £20,000) was drawn down from the FAiucational Fund investment account aiid £12.500 (2024.. £ 10.000) was drawn down from th¢ B¢n¢volent Fund investment account to meet the trusts expenditure requirements. Also durin¥ the year the following trustees received remuneration.. 2025 2024 M. Downing l. Purdie 2,000 1.500 The r¢serves limve been carried forward for future distribution.
THE MINING INSTITUTE OF SCOTLAND TRUST REPORT OF THE TRUSTEES Contd. Responsibility of the trustees Charities legislation requires the tn]stees of the trust lo prepare accounts that give a true and fair view of the stale of affairs of the trust and of the surplus or deficit for its financial year. In doing so the trustees are required to= Select suitable accounting poli¢i¢s and apply them consistently Make judgements and estimales iliat are r¢asonabl¢ and prudent Prepar¢ the accounts on th¢ going concern basis unless it is inappropriate to presume that the Trust will ¢ontinue in business Thc tru51ees of the trust are responsible for maintaining proper accounting record8 which disclose with r¢asonAble accuracy at any time tlie fiiiancial position of the trust and enable them to ensure that lh¢ a¢¢ounts comply with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities AcLoun¢s (Scotland) Regulations 2006. They are responsible also for the safeguarding of the assets of the trust and hence for laking reasonable steps for the prevention and detection of fruud and other irregularities. llldependent Examiners A resolution will be proposed at the general meeting to reappoint Jamieson Campb¢ll Kerr Limiled, Chartered Accountants as independent examiners of the trust. Approved by the trustees on SIGNED ON BEHALF OF THE TRUSTEES R. LAIRD CHAIRMAN
THE MINING INSTITirrE OF SCOTLAND TRUST INDEPENDENT EXAMIIYER'S REPORT TO THE TRUSTEES YEAR ENDED 31 DECEMBER 2025 I r¢port on th¢ accounts of the charity for the year ended 31 De¢¢mber 2025 which are set out on pages 5 to 10. Re5peclive responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 {as amended). The charity Irustees consider that the audit requirement of Regulation l O{1 ) (a) to {c) of the 2006 Accounts Regyulations does not apply. It is my responsibility to examine the acLounts as required under s¢ction 44(1)(¢) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination is carried out in accordai)cc with R¢gul&tion I l of the 2006 Accounls Regulations. An examinatioi) includes a r¢view of the accounting records kept by the charity and a comparison of the accounts prcsented with those r¢cords. It also includes Lunsideraliun ofany unusual itetlls or disclosures in the accounts and s¢eks explanations from the trustees concerning any such matters. The procedures und¢rtak¢n do not provide all ihe evidence that would be required in an audit, and consequently I do not express an audit opinion on th¢ view given by the account5. Independent examiner's Statement In th¢ ¢ours¢ of my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respcct the requirements: to keep accounting records in accordance wilh Section 44{1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and lo prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Joanlle Jamieson CA {ICAS) Ch2rter¢d Accountant, Institute of Chartered Accountants Scotland Address: 14 - 15 Main Street, Longniddry. East Lothian, E1432 ONF Date.. Zz li IEQ
THE MINING INSTITirrE OF SCOTLAND TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2025 Endowment Funds 2025 Designated Funds Totsl 2025 Total 2024 Incoming resources InvLstment income (Note 2) 18,006 18.006 22.146 Total incoming resourees 18,006 18,006 22,146 Resources expended Direct charitable ¢xp¢ndilure (Note 3) Managcment & administration of ih¢ ¢harity {Note 4) 45,732 45,732 40,345 11,722 11.722 10,748 Total resourees expended 57,454 57,454 51,093 Net incoming resources before transfers Transfers to d¢si8nated funds (39,448) 39,640 (39,448) (28,947) (39,640) Nel incoming resources for the year (39,640) 192 (39.448) (28,947) Other rec4)gnised gains and losses Gainsl{losses) on investinenls Realised (Note 5) Unrealised 8.365 57,345 8.365 57,345 1,926 24,997 Net movement in funds 26,070 192 26,262 (2,024) Fund balances brought forward at l January 2025 693,580 6,973 700.553 702.577 Fund balances Carried forward at 31 Decemb¢r 2025 719.650 7,165 726,815 700.553
THE MININC. INSTITUTE OF SCOTLAND TRUST BALANCE SHEET AS AT 31 DECEMBKR 2025 Note 2025 2024 FIXED ASSETS Tangible fixed assels Investments 185 719,650 277 693,580 719,835 693.857 CURRENT ASSETS Debtors Bank 2,582 8,265 11,096 11.210 10,847 CRF.DITORS Ainouiits talling dLbe within one year 4,230 4.151 NET CURRENT ASSETS 6.980 6,696 NET ASSETS 726,815 700,553 FUNDS Endi)wmenl fiinds Restricted Iliiids io li 719.650 7.165 693,580 6.973 726,815 700,553 The accounts were approved by th¢ trustees on and signed on their behalf by R LAIRD CHAIRMAN DATE:
THE MINING INSTITUTE OF SCOTLAND TRUST NOTF.S TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2025 l. Accountin Policie5 Basis of preparation assessment of going eoncern The account8 hav¢ been prepared under the historical cost convention with items recognised at cosl or trdnsaction value unless otherwise statcd iii the relevanl note to these accounts. The accounts have been prepared in accordance with ihe Statement of Recommended Practicc.. Accounting and Reporting by Charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the Uiiitcd Kingydom and Republic of Ireland (FRS 102), tlie Charities and Truslee Investment (Scotland} Act 2005 and thc Charities Accounts (Scotland) Regulations 2006. Reconcslixtion witb previous Generally Accepted Accounting Practiee In preparing the accounts, th¢ Iruslees have considered whether in applying th¢ h¢¢ounting policies requircd by FRS 102 and the Charities SORP FRS 102 a restatcmcnt of comparative items was ne¢ded. No restatements were required. Fixed Assets Provision is made for thc depreciation oltangible fixed assets in order to write off the cost or valuation of these assets over their expected useful lives. The annual depreciation rates and methods are as follows= Eqiiipment- 250/0 reducing balance Computer equipmenl- 250/D Straight line Basis of preparation of the accounts The accounts include the Iransaclions of the educational fund and the benevolent fund. lllyestment income Income frotn investmenis is included in revenue on the date which it is received. VAT The Trust is not registered lor VAT and accordingly expenditure includes VAT where appropriate. Funds Endowment funds rcpresent the capital of th¢ educational and benevolent funds. They are represented by fixed asset investments. The Trustees undcrtook a rcview of the Trust Deed and it was agreed that the restricled funds were mor¢ a¢¢uralely classitied as desigvnated tunds as they are used oiily iii accordanc¢ with th¢ obj¢¢i%v¢s of the charity. The designated funds represent the aumulated unexpended surpluses of the funds. Vrdluation of inveslments Investments are in¢luded in the accounts al market value.
THF, MINING INSTITUTF, OF SCOTLAND TRUST NOTE&1 TO THE ACCOUNTS (CONT'D) YEAR F.NDED 31 DECEMBER 2025 2025 2024 2. Investment lJ)come Income from listed invLslmentS 18.006 22,146 3. D)rt Charitable Ex enditure Edueation Fund Awards". Cunningham 4ieholarship Fund Educational grants EduLatioiial meelii)gs Benevolent Fund Awards Bei)evolei)t ¥rantS Benevolent meetings 42,210 36,272 540 3,000 522 3.000 533 45,732 40.345 4. Man emen¢ #nd Adniinistration of the Chari Advcrti.4ing, postag¢ 4nd staliunery Purtfolio mAI)Agemenl fees Acc()untaii¥y fee Hoiiorariiim Computer exp¢ns¢s MLLlingi ¥xpenses Depreciation Gain on asset disposal Sundry expenses 557 2.587 3,510 2.000 217 1.815 92 (30) 2,479 3,588 3,500 183 .374 92 506 11,722 10,748 5. Gain on Dis osal of Fixed Asset Inveytments Market value at l January 2025 Disposal proceeds 149,104 (157,469) 89,355 (91.281) Gain in year (8.365) (1.926)
THE MINING INSTITUTE OF SCOTLAND TRUST NOTE¢1 TO THE ACCOUNTS (CONT'D) YEAR ENDED 31 DECEMBER 2025 Equipmellt 6.T# ible Fixed Assets Cost Ai l January 2025 Additions Dispobals 369 Ai 31 December 2025 369 DepreciAtlon Ai l January 2025 ChMr&ye for year On disposals 92 92 Al 31 December 2025 184 Nel Ilook V#lue At 31 December 202 185 Ntt Book Value At 311)ecember 2024 277 2025 2024 7. Fixed Asset Inve5tmentg Li%ted invLslmeiils al market value At l Janiiary 2025 Acquisitic)ns Disposals Unreulisld gain in market value 693,580 117,829 (149,104) 57,345 689,691 68,247 (89.355} 24,997 At 31 December 2025 719,650 693.580 Ori8inal cost at 31 De¥'¢mber 2025 568.319 616,039 The abov¢ iiicludes the following investments which are gr¢ater than 50/LS of th¢ portfolio valuation: JP Morgan As5¢t Mgrs 45,935
THE MINING INSTITtrrE OF SCOTLAND TRUST NOTES TO THF, ACCOUNTS {CONT'D} YEAR ENDED 31 DECEMiIER 2025 2025 2024 8. Debtors Other debtors 114 2,582 2025 2024 9. Creditors: amounts falling due within one year Accruals 4,230 4,151 2025 2024 10. Endowment Funds As at 31 Decetnber 2025 Educational fund Benevol¢nt fund 479.266 240,384 462.021 231.559 719.650 693,580 The endowmeni funds were set up in 1993 to provide for education in mining science and benevolence to fom]¢r members of the Mining Institute of Scotland or Inembers or fomer members of the In5tilule of Mining Engineers resident in Scotland and to their dcpendants who ar¢ in need. 'rhe funds are represented by fixed asset investments. Any unutilised income is restrlcted for ihe purpose of the funds in accordan¢c with the founding instrum¢nl of the trnst. Educational Fund Benevolent Fund Total I l. De51 nated Funds At l Janu&ry 2025 Deficit for thc year Transfers from endowtnent funds (190.988) (38,050) 26,531 197.961 {1,398) 13,109 6.973 (39.448) 39,640 At 31 December 2025 (202,507) 209,672 7.165 Endowment Funds Designated Funds Tot81 12. Anal sis of Net Assets between Funds Fixed assets Investments Current assets Curr¢nt liabilities 185 185 719.650 11,210 (4,230) 719,650 11.210 {4.230) Total net asscts 719,650 7,165 726,815
THE MINING INSTITtrrE OF SCOTLAND TRUST SCHEDULES FOR THE USE OF THE TRUSTEES NOT FoRlING PART OF THE INDEPENDENT EXAMINER'S ACCOUIYTS
THE MINING INSTITUTE OF SCOTLAND TRUST EDUCATIONAL TRtiST BALANCE SHEET AS AT 31 DECEMBER 2025 2024 2025 2024 CAPITAL ACCOUNT INVESTMENT AT MARKET VALUE Balanc¢ at 31 D¢c¢mb¢r 2024 462.022 456.442 6,400 UK (Govt ofj IdxlLkd Snr GBP 8.300 UK (Govt ot) 0.375Q/o Bds GBP 20,500 UK (Govl ol) 0.37SO/0 Snr GFJP 78,316 45.465 23,200 UK (Gow on 1,75fj/• Snr GBP (99,275) 156.647} 20.1100 Abrdn Oeic V AbTdn Gbl 38,204 16.762 ?3 71 O Assura P17. Ord O. l O 60 Astrazencia Ord USD 0.25 479,267 462,022 9,682 Aviva Inv UK US Eq Inc Li 2 5,398 Axa FTamling?t()n Un UK Mid Cap 1180 Buillie Gifrd Osta5 BG American 300 Bril American Tobacco ?00 Compa&s Group Ord GBP 0.1105 1,300 CT11.ux} I Sicav Ct Lux 240 Diageo Ord 2.sp 218 ExpLrian SO. I O Ord 9,799 Fll. Inv Svs IIK Fidelity Moneyb 011 Findlay Park Fds Am¢riLLtn Sterlin Y,400 tioldman Sa¢hs Wert 8.8.f .$,405 Greencoat UK Wind Ord GBP 3,600 IIICL Infrastruciure Ord 700 1 ISBC I loldinuis PIC Ord LJSD 8,000 INT Public Purtner Ord (JBP 52 Invesco Physical SccurLd (iold 1,802 18hares 1.1 PIC 118D'I'reas Bd 2001shares V PLC MSCI 9.Y.SO JI I Inv fd8 Sr 00 JP Morgan Assei Mgm Glb Macro 640 JP Mor&Jan ETrl'S {Ire US Rei) 9,681 La£ard Fund Mgrs Emerging 14,540 Lionlrust Fund Pinrs r.uro Dyn 8,100 Lloyds Bank Group Ord GBP O. I 6,730 M&G iiivestment Fd I l ) Japan 88 Maiildnd Instl Svc Ml Twentyfour 32 Ma¥nllni Ice Cream Co 1,160 Morgan Stanley If EMG Mkis 6119 Nalw¢st Cjroup l)Ic (IBPI 8.576 Pantheon Infrastru Ord GBPO.01 9,305 4,4?4 Premier Miton Inv3 14.259 709 Prudential CO Ord 0.5p 8,115 6653 RGI Funds ICVC Global Inc & Gro 8,803 21 O Rio Tinio Ord l Op 12.587 10.480 Schroder Unit Tst Asian Alpha 14,410 19.858 Scliroder ljnit'fst Asian Income 5,21 O Schr(xl¢r Unit I st US Smlr 10.597 350 SLOiiiSh & Souihem Energy Ord 50p 7,627 10,001 8.114 17.425 17.274 9.536 9.642 16.510 16.793 9.490 8.901 8.274 1 (Tr.466 10.443 10.678 5,959 9.592 18,998 15.039 8.639 9.312 17.224 6.089 7.520 7.813 1 ?,052 9.874 6.908 4.288 5.498 9.704 5.616 7.631 14,240 13.771 5.280 19.045 10.688 Additions Disposals Unre(ilis¢d ¥ain in morket value Balun¢¢ 4131 December 2025 4.728 1.807 3.848 7,331 23,203 5,302 4,19 8,217 10.016 16,021 16,207 9.140 5,222 30,5?8 13.764 17.894 4.439 9.763 8.702 8.845 377 10.730 10.138 2,771 7.676 14.152 4.516 6.932 9.919 11.895 9,907 10.696 5,629
THE MINING INSTITUTF. OF SCOTLAND TRUST EDUCATIONAL TRUST (CONT'DI BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 2025 2024 REVENUE ACCOUNT INVESTMENT AT MARKET VALUE Balance as at 31 December 2024 (190.988)1174.156) 6,840 Sequoia Economic l NPV sett 2,181 Shdft¢sbury Ord GBP 0.25 sett 383 Sh¢ll Pl¢ Ord EURU 10.494 1200 1'M Naiixis Inv Fds 9,808 12,392 6.544 Tritax Big Box Rei Ord 9,960 142 ljnilever PIC Ord CJBP 0.0311 I I Sett 6,900 200 Vanb)uard Funds PIC S&P SOO Ucits 19,392 5,376 2.739 9.484 -5.090 8,687 7,276 17,931 Transfer from endowment 26,531 D¢ficit tor year to 31 December 2025 (38,050) 129.224) (202,507)1190.988} 479.267 462.021 {Cosi 2025 £378.3211 {Cost 2024 £410.2241 'I'angibl¢ fixed assets 123 185 Other debtors 76 1.709 Accrued charges 12.820) 12.7661 BANK BALAIYCES On cash managein¢nt account Anderson B¢quest Sani Mavor Pund Nomian l-lendirson Share of cashflow account Capital InvLstinent account 1.642 1.642 2,249 2.249 394 394 (206,566} (196.855) 2.395 2,455 276.760 271.034 276.760 271.034
THE MINING INSTITUTE OF SCOTLAND TRUST EDUCATIONAL TRUST REVENUE AND EXPENDITURE ACCOUNT YEAR EIYDED 31 DECEMBER 2025 2025 2024 Revenue Int¢r¢st from investments (gross) 11.969 14,718 Expenditure Advertising, postage and stationery Iducatic)nal grant8 Educational meetings Accountancy f¢e Porttolio managemeni fee Honorarium Compllter expenses Mecting expenses Dcpreciaiion Gain on asset diswsal Sundry expenses 371 36.272 540 2,340 1,690 1,333 145 1,210 61 (20) 42,210 2.392 1,647 2,334 122 916 61 337 50,019 43,942 Deficit for the year (38,050) (29,224)
THE MINING INSTITUTE OF SCOTLAND TRUST BENEVOLENT TRUST BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 2025 2024 CAprfAL ACCOUNT INVESTMENT AT MARKET VALUE Balance at 31 D¢¢emb¢r 2024 231,558 233.249 3,200 UK (Govt ot) IdxlLkd Snr GBP 5.000 4,200 UK (Govt OD Bds 0.3750/0 Snr GBP 4,106 10,300 UK {Govt OQ Snr 0.375tt/0 Snr GBP 8,755 11.600 UK {Govt OD 1.750/0 Snr GBP 8.637 10,000 Abrdn (kicv Abrdn Gbl 4.768 11,605 Assura PIC Ord 0.10 30 Astrazenica Ord US DO.25 4,841 Aviva Investors Sel Fd Al 2,699 Axa Framlington Un UK Mid Cap 590 Baillie Giffonl Oseas BG American 150 Brit American Tobacco 100 Compass Group Ord 0.1105 650 CT (Lux) I Sicav 120 Diag¢o Ord 25p 109 Experian SO.10 Ord 4,96? FIL Inv Svs UK Fidelity Money 66 Findlay Park Fd5 American Sterling 4,700 Goldman Sachs Wert 8.85 /0 2,725 Greencoal UK Wind Ord O. I I 1,800 HICL Infrastructttr¢ Ord 350 HSBC Ord 4.000 IN'I. Publi¢ Partner Ord GBP 26 Invesco Physical Secured Gold 901 Ishares Li PIC USD Treas Bd 100 Ishares V PLC MSCI 4,975 JH Inv Fds Srs l JH 620 JH Investment5 UK Abs retum 4.607 30 JP Morgan Asset Mgsm Gbl Macro 2.611 323 JP Morgan EFTS (Ire US Rei Equity) 15,407 4,894 Lazard Fund Mgrs 12nerging 6.958 7,345 Liontrnst Fund Ptnrs Euro Dyn 9,039 4.100 Lloyds Bank Group Ord GBP O. I 3.400 M&S Investment Fd (I l Japan 16 Magnutn Ice Cream Co 45 Maitland In5tl Sv¢ Ml Tw¢ntyfour 580 Morgan Stanley If EMG Mkts 344 Naiwest Group Ord GBPI 4.287 Pantheon Infr&Etw Ord GBPO.01 4,651 2.237 Premier Miton Inv3 7.210 353 Prudeniial Corp Ord 0.5p 4,040 3,326 RGI funds ICVC Global inc & srowth4.402 105 Rio Tinio Ord lop 6,294 5,240 Schroder Unit Tst Asian Alpha Plus 7.205 9.929 S¢hr4)der Unit T5t Asian lucoru¢ 5,957 4,821 8.295 8,397 4,745 4,451 5,233 5,339 4,796 7,519 4,319 4,656 8,678 3,045 3,760 3,956 6,026 4,937 3.483 2,144 2,749 4.852 2.808 3,816 7,120 6,885 Additions Disp05a15 Unrealised gain in market value 39,514 22.782 (49,829) {32,708} 8.235 4,137 5.221 2,980 9,499 Balance at 31 December 2025 240,384 231.558 2.364 5,903 1.924 3.666 11,601 2,673 2.095 4.108 5.008 8.011 8,103 2,640 9,522 5,403 2,247 4,932 5,911 188 4,523 5,365 4,450 5,069 1,384 3.837 7.156 2,248 3.466 4,959 5,947 4,954
THE MINEf4G INSTITUTE OF SCOTLAND TRUST BELYEVOLENT TRUST {CONT'D) BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 2025 2024 REVENUE AccouNr INVESTMENT AT MARKET VALUE Balance as al 31 December 2024 197,961 187,042 2,605 Schroder Unit Tst US Smlr 5,299 175 Scottish & Southern Energy Ord 50p 3,813 3.420 Sequoia Economi¢ l NPV sell 1,090 Shaftesbury Ord GBP 0.25 sett 194 Shell PIC Euro .07 5.316 10.642 600 TM Natixis Inv Fds 4,904 3.272 Tritax Big Box Rei Ord 4.980 71 Unilever PIC Ord GBP 0.0311115¢11 3.450 100 Vanguard Funds l)Ic S&P 500 Ucits 9.69S 5,348 2.688 1.369 4.804 2.545 4.344 3.638 8.965 Transf¢r from endowment 13,109 {DeficitySurplus for year to 31 D¢¢ 2025 (1.398) 277 209,672 197,961 240,384 231.559 (Cost 2025 £189.998) (Cost 2024 £205.815) Tangible fixed assets 62 92 Other debtors 38 873 Accrued charges (1.410) (1,385) BANK BALANCES On cash management accouni W Garven Trust Account Share of cashflow account Capital Investment account 12.880 12,880 195.285 182.491 2.817 3.009 450,056 429,519 450,056 429.519
THE MINING INSTrruTE OF SCOTLAND TRUST BENEVOLEIYT TRUST REVENUE AND EXPENDITURE ACCOUNT YEAR ENDED 31 DECEMBER 2025 2025 2024 Revenue Interest from investments (gross) 6,037 7,428 Expenditure Benevolent gJraiit5 Benevolent meetings Honorarium Accountancy fee Portfolio manag?emeni fee Computer expenses Advertising. postage and stationery Meeting expenses Dcprcciation Gain on asset disposal Sundry expenses 3,000 522 1,166 1.196 832 61 3,000 533 667 1.170 897 72 186 605 458 31 (10) 169 7,435 7,151 {Defici¢)ISurplus for the year (1.398) 277