R•gbtered Charlty Number." 1125000
THE SCOTh BOLTON TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022

THE scorr BOLTON TRUST
ANNUAL REPORT AND FINANCIAL STATEMETrirs
FOR THE YEAR ENDED 31 AUGUST 2022
co￿￿ENTs
Page
Legal and Administrative Infoffnation
Trustees. Report
Independent Auditors, Report
Slalement of Financial Acuvltles
Balan￿ Sheet
10
Cash f5ow statgmenl
Notes lo the Flnanclal Stalanents
13-16
The followlng pages do nol fom7 part of Ihe statutory accounts."
Schedule of Investments
17-18

THE SCOTh BOLTON TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2022
Twsteas
Twslees in Offi￿ during the year were..
Mlss M M Scott
FAScott
WLGSwan
Management Committee
Mrs C Boscoe
Mrw J Craven
Mr D Garton
Mrs A Brooks
Dr S E Fisher
Mr I Cooper
Mr T P Taylc*
Secretsry
MrsCLFox
Registered Offlce
Bolton Schoc4
Chorfey New Road
8olto
BL14PA
Audltors
Crowe U.K. LLP
Chartered Accountants & Registered Audilors
The Lexicon
Mount Slreot
Manchester
M2 5NT
Bankors and Investment Managers
Smilh & Williamx)n Investment Management Limited
25 Moorgale
London
EC2R 6AY
Solicitors
Currey & Co LLP
33 Queen Anne Street
London
W1G 9HY

THE SCOTT BOLTON TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
Referencè and Administrativ• Information
The Scott Bolton Trust was crealed by a TnJst Deed dated 14 May 1962. The Trust was previously
administered as a subsidiary tharity of Bolton School. vAlh the Charfty Nurnber 1110703. However, the
Charity Ccmmisson have confimied that The Scoll Bolton Trust has been registered as a main
reportlng charity. number 1125000.
The Truste&s, Management Committee, Secretary and registered office of the Charity are shown on
page 1 together with parts"culars of the Charity's professional athisers.
Structuro, Goveman¢e and Managomont
The grant making activities of the Trust {insofar as they relate to the income of the Trusll are currenly
dealt with through the Management Committee based at Bolton School. Subject to that and lo the power
for the Management C<inmittee lo appoint Ils Clerk 8r¥J Treasurer. all other powers in respe¢l of the
Trust are reserved to the Trustees. The Trustees have wide powers to revoke the trusts of the said
Trust Deed dedare other exdu&vely charitablg trusts for purposes connected wlh Bolton School
or the Borough of BIAlon. The pos%er of appiynting Trustees is currently vested in Mr F A Scott.
Employee Information
The Scott Bolton Trust has no employees.
Rlsk Management
During the year the Trustees have exanined the principal areas of the Tfust's operations and
considered the major risks in each of these. In their opinion th8 Trust has established systems which,
under nomial orcumslances. should allow these risks to be managed to an acceptable level in its day
to day operauons.
The Tru*ees contlnue to keep the Trusi's activities under review, particulady with regard to any malor
risks that may arise from lime ID time. and lo monitorthe effectiveness of the system of internal controls
and other viable means by which Ihose risks identified by the Trustees can best be managed.
The key controls used by the Trust indude:
. Formal agendas for all Committee and Board activity,
Comprèhensive strategic planning, budgeting and accounting,
Established lines of reporting, and
Clear aulhorisation and approval levels.
Objects, A5ms, Oblo¢tlves and Activrtles
The objects of the Trust include inter alia..
the promotlon and encouragement of educabon al Bolton School.,
the provision, primarily for boys, girls and young people {b￿ng not more than 21 years of age
or if receiving full-lime instruction at any University, College. School or other educational
establishment being not mtsre than 25 years of age) being pupils or fomier PLJpils ol Bolton
Sthool and also for other boys, giris and yDun9 people of such age who shall be resident in the
Borough of Bolton, of fa¢ililies for recreation or other leisure time occupation (being facilities of
which such persons have need by reason of their youth or social or economic arcumstancesl
in the interest of their S￿la1 welfare and for improving their conditions of life,. and
the funding for the benefit of pupils and former puplls of Bolton Schoollsubject to thgr making
such contribulion Iowdrds the expense as is Considered as appropriatel of..

THE SCOTT BOLTON TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
lal
Iravd for the purpose of education or for atteThJarKe al educational courses ellher
wlhin or oulslde the UK..
attendance al courses or expeditions of an advenlurfxjs kind either within or ouwde
the UK.. arKI
journeys or expeditions either ￿thIn or outsde the UK which give opportunities for
ndividual inillatwe in relation to physlcal. intellectual or cultural pursuits.
Ib)
Ic)
The Trustees confimi that they have complied with the Charities Act 2011 and have referred lo the
guidance contsined in the Ch8rity Commission's general and SU￿ctor guidancè on publi¢ benefit
when reviewing ¢heTrust's aims and objectives and in plannlng its activities and setting its grant ma￿.ng
policy.
The Trust meets its objeclives by maklng grants to pupils and former pupils of Bolt¢Jn S¢hool are
embarkn'ng on the sorts of aclwilies envisaged in the TrLJsfs objects. Grants are also made to instilutSons
which provide the facilities lo enable puplls and fomier pupils to carry OLrt such aclivilies.
Applicants are invited lo apply to the Trust setttng wt the detalls of their proposed activities. The
Management Conmittee {which is appointed annually by the Trustees) revlews the applications and
decides on the grants lo be a¥Yarded each year. O￿lS1OnS to award grants are based on each
appllcation's merit and the benefit that is likely lo be gained from the proposed activity {both by the
appllcant hSm or herself and in appropriate orcumstances by those the applicant may be benefiting by
undertaknng the project). The successful applicants are required lo report back on their experiences
once their adivities aro ccmplele so that the Management Committee czn review how the grants were
spent and ensure th& funds %%er8 applied appropriately.
The sorts of aL*vibes the Trust typlcally supports indude:
Duke of Elfinburgh Award and ￿Ou￿n9 expedltlons.
work experience and volunteering abroad..
cultural, educational and sporting trips abroad., and
fundr8ising projects.
S￿h activities benefll young people by Improving th￿r independence and self-ccyrfidence, by leaching
them valuable life skills and by broadening their understanding of the world, as envisaged by the Trusvs
objects.
Again in Ilne wth the Trusvs objects, the benefioaries of Ihe Trusl's grant-maknng programme are
prlmarily Ihe pupils and former pupils ol Bolton School. The Trustees consider Ihis to be reasonable in
view of the large number of pupils 8nd fomer pupils who can potentially benefit and the range of
backgrounds from which the pupils at the school come. (Bolton School is itself 8 registered charity with
an open 8ccess policy in place for ils pupils. The School encourages children lo allend I￿speCtive of
their parents, ability lo pay, offering bursaries where appropriate ranging from 10Y• lo 100¥0 remisslon
of school fees. Furthermore, over half the 51udenl$ 8t Ihe school come frun beyond Ihe immediate
Bolton postcodesl.
The Twslees consider that the direct benefit that the pupils and forrner pupils receive from having the
opportunily to enjoy and leam from the sorts of experiences supported by the Trust also has an indirect
benefit for the wider community by improving those Individuals, social skills and awarene55. In certain
instances le.g. fundraising projecis} the activities the Trusl supports can have a direct benefit on the
der cornmunity.
Further details of grants awarded in the year to 31 August 2022 are set out in Note 2 to the financial
statements.

THE SCOTT BOLTON TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
Rovlew of A¢hlevem¥nts and Performancè for the Year
The Trust continues to provide gran15 to puwls and fomier pu￿lS of BoIlL￿ School, all ap￿ICatIOnS for
such grants being carefully vetted by the Secreiary arKI the Managemenl Committee. The Trustees
made a transfer of £24.000 out ofthe capitsl fund lo the ManagementC(wnmittee forthis purpose during
the year.
The value of grants made by the Management Committee was £18.650 compared to £1.757 in the
previous year. The Management Commttee's income account Ilhe designated inccme fund) may bè
summarised as fdlows:
Gross income
Less.. expenses
Net inccffle
Less.. grants awarded
24.1Y
24,000
{18.650)
Operat(ng suolus
This left the in￿rne fund with a postive carried fowrnrd balance of £30.235.
Re5?rve5 pollcy
All the reserves of the Trusi arg unr851ricled.
A designated income fund is maintained and Ihe balan￿ 8131 August 2022 was £30,235. It Ss not the
inlenlon ol the Truslees to build up reserves In tNs fund, which Is usually maintsined a year end
balance of between £1,000 and £7,500.
The remaining reserves are held in the capital fund. The balance on the CAPit81 fund at 31 August 2022
was £1,315,435. The Trustees aim lo maintain this fund al a similar levd In order for SLrfiaent
investment income to be generated to provide for future grants in line wlh the charitstAe objecljves.
Operatlng Perforniance
The Trust's net neg8tive rn￿eMent in funds for the year amounted to £96.624 12021: nel positnie
movement of £209.4981, with fund balances carrled fo￿rd al the end of the year of £1.345.67012021=
£1,442.2941.
Inve$lm*nt policy and porformancg
The Trustees are permilled lo invest available funds at their absolLrte discretion. The Trust's
investments are managed by Smith & Williamson Investment Managemenl knmiled. Their performance
is regularly reviewed by the Trustees.
The Truslees aim lo seek maximum lotal relum fiom the investments through capital Appreciation or
income as appropriate.
Principle Risks and Uncertainties
Th& Trustees COn￿der the Health and Safety ol their beneficiaries whilst Iravelling lo be the principle
risk area for risk management. The levèl and breadth of acbvlbes and expeditions is impressive and
applicants are reminded ol the risks associated with these activities al the time of their application
preseniation.

THE SCOTh BOLTON TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
Fulure Plans
Slraleglc prforllles for the next few years revofv$ arouNJ ensuring there is suffiaent invesknent
performance lo enable the Trust lo continue lo promote and provide facilibes for recreation or other
leisure tlme occupation {being facilities of ￿1¢h such persons have need by reason of their youth or
sodal or ew)omlc cir(yJmslancesl In the interest of their social we]fare and for improving theSr
con¢Jitions of life,. and the funding for the benefit of pupils and former pupils of Bolton School Isublect to
their m8king suth wntribution Iowdrds the expense as is consdered as appropriatel of..
la)
travd for the purpose of education or for attendance at educallon81 courses either
ithin or out￿de the UK.,
attendan￿ at coufises or gxpedilions d an adventurous kind either wlhin or outside
the UK; and
joumeys or expeditions etther wlhin or outside the UK which gwe opportunities for
irKlividual Initiative in relauon lo physical, Inlelledual or cultural pursuits.
Ibl
Ic)
Statemenl of Trustaes, Responsibilitles
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United ifjngdom Generally Accepted Accountlng Practice (United
Klngdom Accounting Sland8rdsl.
The law applicable lo charities in England and Wales requires th8 Tnjstees to prepare finanaal
statements for each financial year which give a true and fa5r view of the state rf affairs of the charity
and of the Incoming resources and application of reSoU￿S of the charity for that period. In preparing
these finanoal Statemen￿ the Trustees are r8quir8d lo..
select suitable arxounling p(Ai¢ies and then appty them consistently.
obseNe the methods and prin(yples in the Charities SORP-
make judgments and eslimales that are reasonable and prLKlentr
stale whether applicable accounting $18nd8rds have been Idlowed. subject to any material
departures disclosed and ex ￿ained in the financlal slalements-,
prepare the finanaal statements on the going concem basis unless il is inapproprtate lo presume
that the ¢harlty wll continue in business.
The Tnjstees are responsible for keeping adequate accounting record5 that are wffirient to show and
explain the charity's transactions, disdose with reasonable accuracy at any time the financial position
of the charity and enable them to ensure that the financial statements comply wth the Charities Act
2011. the Charities (Accounts and Reports) Regulation5 2008 and the provisions of the charity's
Constit￿lOn. They are also responsible lor safeguaiding the assets of the charity and hence for
reasonable stèps for Ihe prevention and detection of fraLJd and other irregularibe5.
Auditors
Crowe U.K. LLP has indicaled lis willingness to be reappointed 8$ registered auditor.
2b2S and sgned on
Approved by the Board of Trustees of The Scoll Bomon Trust on .........
its behalf by-
WLGSwan
Trustee

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE SCOTT BOLTON
TRUST
Opinion
We have audited the financial slalements of The Scott Boll¢)n Trust for the year ended 31 August 2022
whlch comprise the Statement of Financial Activities, BalanGe Sheet, Cash Flow Slalemenl and notes
lo the financial statements. In(Juding a ￿MMary of signific8nt 8c¢ounts'ng policies. The financial
reporting framework that has been appwed in their preparatlon is applicable law and United Kingdom
Accounting Standards, induding Financial Repoiting Stsndard 102 The Finanaal Reporting Standard
appli¢aLAe in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Pfacli¢e).
In our oplnion the finanaal slalements..
give a true and lair view of the state of the charitable trust's affairs as at 31 August 21722 and of
ils incoming resources and appli¢atlon of resources, induding ils inccffle and expenditure for
the year then ended.,
have been properly prepared in accordance ￿1h Unlled Klngdom Generally Accepted
Accountlng Practice,. and
have be￿ prepared Sn a￿anCe with the requir￿entS of the Charities Act 2011.
Basis for opinion
We condu¢led OUT audit In accordance wlh Inlemational Slandards on Auditing IUK) IISAS IUKI} 8nd
applicat4e law. Our responsibilities under those standards are further described in the Auditorfs
responslbilitie5 for the audit of the financial slalements section of our report. We are independent of the
aritable tnjsl in accordance with the ethical requirements (hat 8re rel￿an1 to our audit of thefinancial
statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilioes in accordance with these reouirements. We believe that tha audit evldence we have
obtained Ss strfFiclenl and appropriale to provide a basis for our opinion.
Conclusions rglatiro to golng concern
In auditing the financial slalemenls, we have c1￿cluded that the trustees, use of the going concem bass
of accounting in the p￿paratiOn of the finanrial slalemenls 15 appropriate.
Based on the w)rk we have performed. we have nol identified any material uncertainties relaltng lo
events or Gonditions that, individually or collectivdy. may cast significant doubt on the charitable twsfs
ability to continue as a going ￿NEe[n for a period ol at least twelve months from when the flnanoal
statements are 8ulhori5ed for issue.
Our re5ponsibililies and the responsibllilles of the trustees with respect to golng concern are described
in the relevant sections ol this report.
Other infomiatlon
The Iruslees are respondble for the other infomiation contained within the annual report. The other
inforTn81ion comprises the information included in the annual report. other than the financjal $18lemenls
and our auditor's report thereon. Our opinion on the finanaal statements does not cover the other
inlorrnation and. except lo the exlenl otherwise explicidy sialed in our report. we do not express any
form of assurance condusion thereon.

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE SCOTh BOLTON
TRUST
Our responsibility is lo read the other infomatIon and. in doing so. cOn￿der whether the other
infom)ation Is malerfally inconsisienl vAth the financial statements or our knowledge obtsined in the
audlt or otherw5e appears to be materially misslaled. If we identify such material inc¢)nsistenaes or
apparent material misstslemenls, w are required to determi￿ whether this gives rfse to a material
misstatement in the financial statements th&nselves. If. based on th8 work we have perfomied, we
condude that there is a materf81 mi&8talemenl of this other information, we are required to report that
fact.
We have nothing to report In thls regard.
Matters on whith we are required to report by exception
We have nothing to repc*1 In respeGt of Ihefdlowng matters in rdation lo vthich the Charities Ik¢ounts
and Reportsl Regulations 2008 r8qulre us lo report to you rf, in our opinion..
the information £4ven in the finanaal ststements is inconsstenl in 8ny materi81 ￿sPect with the
trustees, report., or
suffl¢ienl accounting records have not been kept., or
the flnancl81 slalements are not in agreement ￿1th th& accounting records and returns.. or
we have not recewed all the information and explanalirms we require for our aLKlil
Responsibilities of twstoès
As ex ￿aIne{l more fLAly in the trustees, Tespon&bililies statement set out on page 5, the trustees (who
are also the dire¢lors of the charitable tfust for the purposes of ch8rity lawl are responsibte for the
preparation of the financial slalemenls and for being sallsfied Ihal they give a true and fair view. and for
such Inlemal control as the trust￿5 determine is necessary to enable the preparation of finan(?al
siatement5 Ihal are free from material misstalemenL vthether due to fraud or error.
In preparing the financlal statements, the trustees are responsible for assessing the charitable trust's
ability to continue as a going concern, dis¢loslng, as applicable, matters related lo going concem and
using the wng concern basis of accountlng unless the Iruslees either intend lo liquidate the charitable
trust or lo cease operations, or have no realistic altemative bul lo do so.
Audltorfs rgspon$lblllt105 for the audit of the financial statsments
We have been appointed as auditor under section 145 of the Charities Act 2011 and repc(t in
accordance wlth the Act and relevant regulations made or having effècl thereunder.
Our objectSves are to obtain reasonable aS￿ranCe about wthether the financial statements as a %thole
are free from material misstalemenl, whether due to fraud or error, and to Issue an auditor's rep(wt that
Sncludes our opinion. Reasonable assurance is a high levd of a￿uranCe, bul is not a guarantee th81 an
audit conducted in accordance with ISAS IUKI wll always delect a material mi￿181eMenI when il exists.
Misslatemenls can arise from fraud or error and are considefed m81eri81 if, individually or In the
aggregate, they could reasonably be expected lo influence the econ(Ynic decisions of vsers taken on
the basis of these financial slatemenls.

INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE SCOTT BOLTON
TRUST
Irregularities, induding fraud. are Instances of non-cc#mpIian￿ with laws and regulations. We design
procedures in line wth our responsibililes, outlined above, to delecl material misstatements in respecl
of irregularities, including fraud. The extent lo whi¢h our procedures are capable of delecting
irregularfties, induding fraud is detailed below.
Extont to which the audbt was wnsidored capable of detectlng Irregularltlas. Including fraud
Irregularities. Indudlng fraud. are instances of non-compliance with laws and regulations. We identified
and assessed the risks of mateJial misslalemenl of the financial statements from irregularities. ￿ether
due lo fraud or error, and discussed these between our audit learn members. We then designed and
p&rfomied audit procedures responsive to those risks, IncludirwJ obtaining audit eviden￿ suffioenl and
appropriate to provide a basis for our opinion.
We obtained an understanding of the16gal and regulatory frameworks wlhln which the charitable trust
operates, focusing on those laws and Tegulations that have a dlrect effecl on the determination of
material amounts 8nd discjosures in the finanaal statements. The laws and regulations we Gonsidered
in this context were the Charitie5 Act 2011 and The Charities IAc¢ounls and Reports) Regulations 2008
together with the Charities SORP {FRS 1021. We assessed the required compliance with these laws
and regulations as part our audit proKedures on the related llnancial statement items.
In addltion. we con&dered provSsi￿s of other laws and regulations that do not have a direct effect on
the financial slalemenls bul Complian￿ ￿1th which might be fundamental to the charitable trust's 8bility
lo operate or to avoid a material penalty. We also considered the opportunities and incèn¢J'ves that may
exist wthin the charitall8 trust for fraud.
Auditlng sland8Tds limit the required audit procedures lo identify non-compliance wlh these laws and
regulations to enquiry of the Trusl8es and other management and inspe¢llon of regulatory aThJ legal
correspondence, if any.
We idenlified the grealesl risk of material impact on th8 financi81 statements from irregulariues, including
fraud, to be wlhin the override of controls by management. Our audit procedures to respond to these
risks included enquiries of management about their own identification and assessment ol the risks of
itr&gul3rilies. designing audll procedures over income, sample testing on the posting of joumals,
reviewing accountbng estimates biases and reading mlnutes of meetings of those charged with
govemance.
Owing to the inherent limitations of an audit. Ihere Is an unavoidable risk that k%e may not have detected
some material missiatemenls In the financial statements, even though we have pmperly planned and
performed our audit in acwrdance with auditing standards. For ex8mple, the further removed non-
Compliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the
financial stalemenls. the less likely the inherently limited procedures required by auditing Standards
would identify it. In addition. as with any audit, there remained a higher risk of non-delection of
ir￿g￿larities, as these may involve collusion, forgery. intentional omissions, misrepresentations, or the
override ol internal controls. We are not responsible for pievenling non-compliance and cannot be
expected to delecl nOn<Crfnplian￿ ¥Mth all12w5 and ￿gUlations.
A further dewiption of our responsSbililles for the audit of the financial statements is I(￿ated on the
Financial Reporting Council's website al..
.frc.or
laudi
or
sibililies. Thls description forms
part of our auditor's report.

INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE SCOTT BOLTON
TRUST
Use of our report
This report is made solely lo the charity's trustees, as a body, in accordance wlh Part 4 ofthe Charities
(Accounts and Reports) Regulations 2008. Our audlt work has been undertaken so that ￿ mlghl state
to the charity's trustees those matters we are required to state lo them in an auditorfs report and lor no
other purpose. To the fullest exlenl pemitted by law. we do not a￿p1 or assume responslbility to
anyone other than the charity and the charity's trustees as a body. for our audit work, for this r8POrt. or
for the opinions ￿ have fomied.
LLR
Crowe U.K. LLP
Statutory Audilor
The Lexicon
Mount Streèt
Manchester
M2 5NT
28th lune 2023

THE SCOTT BOLTON TRUST
STATEMENT OF FINANCIAL ACTPIITIES
FOR THE YEAR ENDED 31 AUGUST 2022
UThrestrfcted Fund$
Y￿r Ended 31 August 2022
Ca￿tal
Income
Fund
Fund
Igenernll Id•81onatedl
UnresÉnct8dFun¢ts
Yew Ended 31 AugUSt2027
CapftalFund
In￿ry
Fund
(gerw&l) l¢toswat6d)
NDies
Total
INCOME
Investment in¢oTne
Gross In(x)rne from UK
listed Investmerrts
Bank interest
25.593
11
25.593
23.512
23,512
95
Total In¢tyhe
EXPENDITURE
Ralsing fvnds
Investma)t m8nwJement fe85
11,102
11,102
10.207
10,20T
Charttable a¢lvities
Irnprovwnenl of SDoal welf8re
and Cond￿On$ of lrfe in young
p￿>ple tho a￿ re5i¢JEnt in the
Borough of Bc4ton
Total Exp8ndbtvr¢
Nat In¢rrfng I l•xpendlture)
11,756
118.650
16.894)
9,496
11.7571
7,739
Gain$lllo$8esl on Iwe8tment
a$set$:
Realis
Unrealised
161,1111
128,6191
{61,111)
128.619)
111,5781
213,337
111,578}
213,337
Transf￿ of Grant to Commlttee
NET MOVEME￿ IN FUNDS
Fund balanees at 1 September
2021
FUND BALANCES AT 31
AUGUST 2022
The notes on p8ges 13 to 16 fomi part of these lin8nu81 statements. The activil'es of the Trust are dassed as
continuing.
io

THE SCOTh BOLTON TRUST
BALANCE SHEET
AS AT 31 AUGUST 2022
Note$
31 August 2022
31 August 2021
FIXED ASSETS
Investments
1,269.364
1.404,429
CURRENT ASs￿s
Cash and bank
95,006
52.415
CREDITORS- amounts falling due
thin one year
Acuuals
NEf CURREKf ASSETS
TOTAL NEf ASSETS
FUNDS
Income fund
C8pilal fun(J
30,235
24.885
TOTAL FUNDS
The finanaal statements were approved and authorfsed for Issue by the Board of TTUStees and ￿tre
slgned on Ils behalf on
7th lune 2023
Miss M M Scott
Trustee
FAScott
Tru$tg9
WLGSwan
Twstee

THE SCOTT BOLTON TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2022
2021
2021
NET CASH oiJfFLOW FROM
OPERATIONS
Nel ¢ash used by operatlng activities
(28.348)
131,903)
CASH FLOWS FROM INVESTING
ACTIVITIES
Investment income recelpts
Payment foi invesknents
Proceeds from sale of Inveslments
25,604
1522,9851
23,607
1387,2391
NET CASH PROVIDED BY
INVESTING ACTIVITIES
70.939
121.823)
CHANGE IN CASH AND CASH
EQUIVALEKfs IN THE YEAR
CASH ANO CASH EQUIVALENTS
AT START OF THE YEAR
415
106
CASH AND CASH EQUIVALENTS
AT END OF THE YEAR
12

THE SCOTh BOLTON TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2022
R•conclliation of net incom8 to net cash outnow from opèrating activitl•s
2022
2021
Net Incoming le￿UrceS
16.894)
7.739
Non-operatlng cashThows ellminated."
Investment incc4ne
(Decreaseylncrease in creditors
125,6041
123.6071
Nèt cash oufflow from op¢rating activities
2. Analysis of cash and cash equivalent$
2022
2021
Cash at bank
Thg notes on pages 13 to 16 fomi part of thgse flnan¢ial stotgments.
13

THE SCOTh BOLTON TRUST
NOTES TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting Policies
Ba$l$ of A¢¢ounting
The accounts have been prepared under the historical cost convention as modified by the
revaluation ￿ investrnents. In preparing the financi81 ststemenls the Charity follows best
practi￿ as set out In the Charities SORP {FRS 1021- Accounting and Reporting by Charities..
Slalemenl of Recommended Practlce applicable lo charities preparing their accounts in
a¢¢ordan¢e wlh the Financial Reporting Standard applicable in the UK and the Republic of
Ireland {FRS 1021.
The funcllonal currency of the Charity is considered to be GBP because that is the currency of
the primary economlc envlronment in bthich the Charity operales.
The Trust is a Public Benefit Entity registered as a charity in England and Wales ￿ 15 July
2008 Icharity number.. 11250001.
The Trust manages oper8tior)al cash flow lo make best use of available resources. Investrnenls
held as fixed assets are liquidated if necessary. Overall the trustees are confident that the Trust
has suffiaent resourcesto continue as a gc>ing con¢ern and Consider th81 there were no material
uncertainties over the Trust's llnanoal viability.
b. Income
Inccme from investmenls is induded in the Statement of Finanaal Aebvities only if ￿te1ved. or
dedared and recewable. Realised and unrealised gains or losses arisng fr(Yn the sale or
revaluation of investrnents a￿￿nted for ￿ltI￿n Ihe Statement of Financial Activitie&
¢. Resour¢es Expended
Costs of generating funds relales to the Snvestmenl managers costs.
Grants are accrued for once the Trustees have approved the application.
Governance costs includes the costs connected wlh the Charity's eonsts'iutional and statutory
requirements.
All expenses are accounted for on an accruals bass.
d. Investsnants
Investments are stsled at market value al the balance sheet dale.
e. Fund AccountSng
Unrestricted funds are expendable al the discretion of the Trust8es in furtherance of the objects
or admiristration of the Charfly.
f. Taxatlon
The Trust Is a regISte￿d charity, and as such is enlilled to taxation exEy))ptions on all its income
and gains, properly applied for ils charitable purposes.
14

THE scorr BOLTON TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continuod)
FOR THE YEAR ENDED 31 AUGUST 2022
Recognition of Li8bilitie$
Liabilities are reoognised once there is a legal or conslructNe obligauon that ccthmSls the
Charity lo the obligation.
Critical accounting judgements and key sour¢es Of estimation un¢ertainty
In the application of the accounting poliaes, Trustees are required lo make ludgement,
estimates. and assumptions about the carrying value of assets and liabilities that are not readily
apparent ffom other sources. The esllmales and undedying assumptions are based on
historical experience and other factors that are ￿nsidered lo be rdevanl. Aclu81 results may
differfrom these estim8les.
The estimates and underlying asgjmpllons are reviewed on an ongoing basis. Revisions to
accounting estimates are recL)gnised in the period in which the estimate IS Tevised if the revison
affects only that period, or in the period of the reVI￿On and future periods if the ievision affected
current and future periods.
In the view of the Iruslees, fKS aS￿MptIonS conceming the fLrture or estimation ￿￿ertaInty
affecting assets or liabilities al the b818nce sheel dale are Ilkelyto result in a material adjustment
lo their carrying amounts in the next financ4al year
Char]tabl& actlvltles
2022
2021
Grants awardad
Individuals
Inslblutions
Prior pericxl Grant 8￿rdS paid out
Prior period Grant awards unspent due lo Covid-19
Bicydes purchased 2020 allocated grants
20,300
12,OQO
113.6501
13,150
500
12.0051
123.3791
18,650
1.757
Govern8nce costs
904
Toial
Grants to individuals of £20,300 (2022.. £13,150) were awarded lo pupils and fomier pupils of Bdton
School, in line with the objects of the eharily. In ad¢Jition. grants to inslituli¢)ns of £12,(N)0 (2022.- £500J
were awarded in line with the objects of the charity.
The total number of such pupils received grants in the year was 34 {2021.- 36). The institution
gr8nts 01 £12,000 (2021.. £500J comprised awards lo Bolton Schod for Equipment al Patterdale Hall.
Total Resources Expended
No Trustees have received any remuneration or expenses during Ihe year.
15

THE scorr BOLTON TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Investments
2022
2021
Balan￿ at 1 September 2021
Additions in year
Disposals
Management fees
Revaluation gains Illossesl
1.404.429
522,985
(557,2181
(11.1021
1,157,241
387,239
1331,602)
IAO.207)
Balance al 31 August 2022
HiSt￿C cost
2022
2021
Government and corpor8te stock- UK
UK equities
Investments and unil trusts- overseas
154,786
655.792
106,828
621,821
16

THE SCOTT BOLTON TRUST
NOTES TO THE FINANCIAL STATEMENTS {Continued)
FOR THE YEAR ENDED 31 AUGUST 2022
Cash and Bank
2022
2021
Client money investment deposit
Dividend account
Income account
Donations rV￿rVe account
Current account
35,862
3,470
15.101
3.417
4.054
12.913
Unrestrlcted Funds
Balancé at
1 S¥ptgmber
2021
Incoming Rasourcos
resour¢es
expended
Inv08tment Transfer Balance at
gain$
bgtween
31 August
funds
2022
Capitsl fvnd
Inctxne fund
1.417,409
24,885
25,604
13.848
18.650
189,731) 124,(Kx)} 1,315.435
24.000
30.235
Total
1.442,294
25,604
32.498
189,731)
1.345.670
The income fund is a designated fund relates lo the furKls allocated lo the management
ommittge review applications for grants and decide on 9r8nls to be awarded. The transfer
befften funds relates to the 8mount transferred Irom the main unrestricted fund to the designated
fund for this purpose. The remalning balance on the de￿gnated fund wlll be spent in the next
rinanaal year.
Net assets ol the funds of th• charity
Investments
Net Current
Asselsl
(Liabilities)
Fund Balances
Charity Unrostricted Funds
Income Funds
Capital FLinds
30.235
30,235
Total Unrestricted Funds
R¢lat&d Party Transa¢tion$
During the year, the Trust paid amounts totalling £1,78812021'. £2,952) on nom)al commercial tems to
Currey & Co LLP for prOfe￿onal services. WLG Swan, a Trustee of the Trust. is also a Partner of
Currey & Co LLP.
17

THE scorr BOLTON TRUST
SCHEDULE OF INvESTME￿s
FOR THE YEAR ENDED 31 AUGUST 2022
Book
Cost
Market
Value
Bonds
59000 United lfjngdom Igovemmenl on 0.375% bds
14800 Ishares Vll plc USD Treas bd 3-7yr uals etf
145 CG Portfolio fund plc real relum
57,027
71,052
18.167
53,354
69,664
31.768
Multl assets
1450 Rrr Capital Pathers PLC
21000 LF RLrffer Investment Funds
145 CG Portfolio Fund PLC Real Relum
29,887
73.553
72,491
33,133
77,828
82,899
Prop•rtle8
21000 Charfties Prop$rty Fund
25000 Greencoat Renewables PLC
29250 Cordiant Dig'tal InfrastnJclure Ltd
25335 Pantheon Infrastructure PLC
26.816
25.730
29,406
25,335
31,445
26,651
31.151
26.602
United Klngdom- Equitiès
2S150 City Of London Investment Trust
1245015hares Core FTSE1 LMJ UCITS ETF
9500 Baillie Grfford UK GTOWth Trust PLC
29000 LF Lionlrust Investment Funds
4￿00 Troj8n Investment Funds
21922.8 T8 Evenlode Investment Fund5
85,881
92,177
21.784
40.402
56,328
41.813
100.349
89.528
14,858
36,845
51,426
53,077
North America- EqultSes
100(K) JP Morgan Fund ICVC JPM
1421 SSGA SPDR ETFS Europe I PLC
1 IOfK) Premler Milon Investment Funds
29,306
73.300
39.157
45.740
83,924
42.284
Europe- Equltles
150 Edgewood L Select US Growth 12
10,000 JP Morgan Asset Mgmt UK Ltd US Equity Income C Inc
28.629
29.394
27.336
25,844
Asla~ Equities
4,250 First State Investments IUKI Stewart Inv Asia PA Ldrs
2,900 First Stsle Inveslmenls IHKI Asian Equity Plus USD
6,800 JP Morgan Asset Management UK Ltd Japan
22,541
30,844
34,643
23,360
44,287
41,854
Global- Equities
41,300 Ballie Gifford Global Equity Inc
12,300 Ballie Gifford Positive change
29,2￿ Cordiant Digital Infrastructure
28.584
50.399
22,794
35,958
62,487
25,712
Total Holdings
1,269,364
This page does not fom part of the statutory accounts.
18