Registered Charity Number: 1125000 THE sco BOLTON TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 Charity Commission 2 0 MAY 2025 Received
THE SCOTh BOLTON TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 CONTENTS Page Legal and Administrative Infomiation Trustees, Report Independent Auditors, Report Statement of Financial Activities 10 Balance Sheet 11 Cash flow statement 12-13 Notes to the Financial Statements 14-17
THE SCOTh BOLTON TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024 Trustees Trustees in office during the year were: Miss M M Scott FAScott WLGSwan Management Committee Mrs C Boscoe Mr W J Craven Mr D Garton Mrs A Brooks Mr I Cooper Mr T P Taylor Secretary MrsCLFox Registered Office Bolton School Chorley New Road Bolton BLI 4PA Auditors Crowe U.K. LLP Chartered Accountants & Registered Auditors The Lexicon Mount Street Manchester M2 5NT Bankers and Investment Managers Evelyn Partners 45 Gresham Street London EC2 7BG Solicitors Currey & Co LLP 33 Queen Anne Street London W1G9HY
THE sco BOLTON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Reference and Adminlstrative Infomiation The Scott Bolton Trust was created by a Trust Deed dated 14 May 1962. The Trusl was previously administered as a subsidiary charity of Bolton School, with the Charity Number 1110703. However, the Charity Commission have confirmed that The Scott Bolton Trust has been registered as a main reporting charity, number 1125000. The Trustees. Management Committee. Secretary and registered office of the Charity are shown on page 1 together with parknculars of the Charitls professional advisers. structure, Governance and Management The grant making activilies of the Trust (insofar as they relate to the income of the Tnjst) are currently dealt with through the Management Committee based at Bolton School. Subject to that and to the power for the Management Committee to appoint its Clerk and Treasurer, all other powers in respect of the Trust are reserved to the Trustees. The Trustees have wide powers to revoke the trusts of the said Trust Deed and declare other exclusively charitable trusts for purposes connected with Bolton School or the Borough of Bolton. The power of appointing new Trustees is currently vested in Mr F A Scott. Employee Information The Scott Bolton Trust has no employees. Risk Management During the year the Trustees have examined the principal areas of the Trust's operations and considered the major risks in each of these. In their opinion the Trust has established systems which. under nonnal circumstances. should allow these risks to be managed to an acceptable level in its day to day operations. The Trustees continue to keep the Trust's activitie5 under review. particularfy wsth regard to any major risks that may arise from time to time, and to monitor the effectiveness of the system of intemal controls and other viable means by which those risks identified by the Trustees can best be managed. The key controls used by the Trust indude: . Formal agendas for all Committee and Board activty, Comprehensive strategic planning, budgeting and accounting. Established lines of reporting, and Clear authorisation and approval levels. Objects, Aims, Objectives and Activfties The objects of the Trust include inter alia- the promotion and encouragement of education at Bolton School" the provision, primarily for boys, girls and young people (being not more than 21 years of age or if receiving full-time instruction at any University, College, School or other educational establishment being not more than 25 years of age) being pupils or former pupils of Bolton School and also for other boys. girls and young people of such age who shall be resident in the Borough of Bolton. of facilities for recreation or other leisure time occupation (being facilities of which such persons have need by reason of Iheir youth or social or economic circumstances) in the interest of their social welfare and for improving their conditions of life- and the funding for the benefit of pupils and former pupils of Bolton School (subject to their making such contribution towards the expense as is considered as appropriate) of..
THE SCOTh BOLTON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (a) travel for the purpose of education or for attendance at educational courses either within or outside the UK; attendance al courses or expeditions of an adventurous kind either within or outside the UK,. and journeys or expeditions either within or outside Ihe UK which give opportunities for individual initiative in relation to physical, intellectual or cultural pursuits. (b) (c) The Trustees confimi that they have complied with the Charities Act 2011 and have referred to the guidance contained in the Charity Commission's general and sub-sector guidance on public benefit when reviewing the Trust's aims and objectives and in planning its activities and setting its grant making policy. The Trust meets its objectives by making grants to pupils and fomier pupils of Bolton School who are embarking on the sorts of activities envisaged in the Trust's objects. Grants are also made to institution5 which provide the facilities to enable pupils arKI former pupils lo cary out such activities. Applicants are invited to apply to the Trust setting out the details of their proposed activities. The Management Committee (which is appointed annually by the Tnjstees) review the applications and decides on the grants to be awarded each year. Decisions to award grants are based on each application's meril and the benefit that is likely to be gained from the proposed activity (both by the applicant him or herself and in appropriate arcumStanS by those the applicant may be benefiting by undertaking the project). The successful applicants are required to report back on their experiences once their activities are complete so thai the Management Committee can review how the grants were spent and ensure the funds were applied appropriately. The sorts of activities the Trust typically supports include". Duke of Edinburgh Award and scouting expeditions", work experience and volunteering abroad., cultural, educational and sporting trips abroad. and fundraising projects. Such activities benefit young people by improving their independence and self-confidence, by teaching them valuable life skills and by broadening their understanding of the worfd, as envisaged by the Trust's objects. Again in line with the Trust's objects. the beneficiaries of the Trust's grant-making programme are primarily the pupils and former pupils of Bolton School. The Trustees consider this to be reasonable in view of the large number of pupils and fomier pupils who can potentially benefit and the range of backgrounds from which the pupils al the school come. (Bolton School is itself a registered charity with an open access policy in place for its pupils. The School encourages children to attend irrespective of their parents. ability to pay. offering bursaries where appropriate ranging from 100A to 100°/¢ remission of school fees. Furthermore, over half the students at the school come from beyond the immediate Bolton postcodes). The Trustees wnsider that the direct benefit that the pupils and former pupils receive from having the opportunity 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 awareness. In certain instances {e.g. fundraising projects) the activitses the Trust supports can have a direct benefit on the wider community. Further details of grants awarded in the year to 31 August 2024 are set out in Note 2 to the financial statements.
THE scorr BOLTON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Review of Achievements and Performance for the Year The Trust continues to provide grants to pupils and fomer pupils of Bolton School, all applications for such grants being carefully vetted by the Secretary and the Management Committee. The Trustees made a transfer of £27.000 out of the capital fund to the Management Committee for this purpose during the year.0 The value of grants made by the Management Committee was £32.965 compared to £35,767 in the previous year. The Management Commrtiee's income account (the designated income fund) may be summarised as follows.. Gross income Less: grants awarded Operating deficit 27,000 (32,965) This left the income fund with a positive carried forward balance of £15.503 Reserves policy All the reserves of the Trust are unrestricted. A designated InMe fund is maintained and the balance at 31 August 2024 was £15,503. It is not the intention of the Trustees to build up reserves in this fund. The remaining reserves are held in the capital fund. The balan on the capital fund at 31 August 2024 was £1.348,002. The Trustees aim to maintain this fund at a similar level in order for sufficient investment income to be generated to provide for future grants in line with the charitable objectives. Operating Perfomian¢e The Trust's net positive movement in funds for the year amounled to £86.336 (2023.. net negative rnovement of £68,500), with fund balances carried fotward at the end of the year of £1,363,505 (2023: £1,277,170). Investment policy and perfomiance The Trustees are pemiitted to invest available funds at their absolute discretion. The Trust's investments are managed by Evelyn Partners. Their perf0mlan is regulady reviewed by the Trustees. The Trustees aim to seek maximum total retum from the investrnents through capital appreciation or income as appropriate. Principle Risks and Uncertainties The Trustees consider the Health and Safety of their beneficiaries whilst travelling to be the principle risk area for risk management. The level and breadth of activities and expeditions is impressive and applicants are reminded of the risks associated with these activities at the time of their application presentation.
THE SCOTh BOLTON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Future Plans Strategic priorities for the next few years revolve around ensuring there is sufficient investment performance to enable the Trust to continue to promote and provide facilities for recreation or other leisure lime occupation (being facilities of which such persons have need by reason of their youth or social or economic circumstances) in the interest of their social welfare and for improving their conditions of life.. and the funding for the benefit of pupils and fomier pupils of Bolton School (subject to their making such contribution towards the expense as is considered as appropriate) of: (a) travel for the purpose of education or for attendance at educational courses either within or outside the UK. attendance at courses or expedilions of an adventurous kind either withln or outside the UK" and journeys or expeditions either within or outside the UK which give opportunities for individual initiative in relation to physical, inldlectual or cultural pursuits. Statement of Trustees. Responslbilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounling Standards). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees a required to.. select suitsble accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent; slate whelher applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate aoUntIng records that are sufficient to show and explain the charity's transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the finanaal statements comply with the Charities Act 2011, trie Charities (Accounts and Reports) Regulations 2008 and the provisions of the Gharity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention an(1 detection of fraud and other irregularities. Auditors (b) {c) Crowe U.K. LLP has indicated its willingness to be reappointed as registered auditor. Approved by the Board of Trustees of The Scott Botton Trust on ... its behalf by- and signed on WLGSwan Trustee
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE SCOTT BOLTON TRUST Oplnion We have audited the financial stalements of The Scott Bolton Trust for the year ended 31 August 2024 which comprise the Statement of Finanoal Activities, Balance Sheet, Cash Flow Statement and notes to the financial ststements, including a summary of significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the charitable trust's affairs as at 31 August 2024 and of its incoming resources and application of resources. including its income and expenditure for the year then ended. have been properly prepared in accordan Trmth United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in 3ccordance wth Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating to events or conditions that, individualEy or collectively, may cast signtficant doubt on the charitable trust'5 ability to continue as a going con for a period of at Seast iwelve months from when the financial statements are aLrthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going Goncem are described in the relevant sections of this reporL Other information The trustees are responsible for the other information contained within the annual report. The other information comprises the informalion included in the annual report, other than the financial statements and our auditols report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expliatEy stated in our report, we do not express any form of assuran conclusion thereon.
INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE scorr BOLTON TRUST Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislent with the financial statemenls or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsislencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslatement of Ihis other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are requlred to POrt by exception We have nothing to report in respect of the following matters in relation to which the Charrties (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion= the information given in the financial statements is inconsistent in any material respect with the trustees, report,. or sufficient accounting records have not been kept," or the financial statements are not in agreement with the accounting records and retums. or we have not reiVed all the infomiation and explanations we require for our audit Responsibilities of trustees As explained more fully in the trustees. responsibilities statement set out on page 5. the trustees (who are also the directors of the charitable trust for the purposes of charity law) are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees delemiine is necessary to enable the preparation of financial statements thal are free from material misstatemenL whether due to fraud or eOr. In preparing the financial statements. the truslees are responsible for assessing the charitable trust's ability to continue as a going concem. disclosing, as applicable. matters relaled to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable trust or to Gease operations, or have no realistic alternats've but to do so. Audito*s responslbilities for the audit of the financial statements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance aboLrt whether the finanaal statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol a guarantee that an audit conducted in accordan with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise fvom fraud or effor and are considered Material if, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements.
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE scorr BOLTON TRUST Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. OLrtlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Extent to whlch the audit was considered Capable of detecting irregularities. including fraud Irregularities, including fraud. are instances of non-compliance th laws and regulations. We identified and assessed the risks of material misslatement of the financial stalements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulalory frameworks within which the charitable trust operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Acl 2011 and The Charities (Accounts and Reports) Regulations 2008 together with the Charities SORP {FRS 102}. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable trust's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitsble trust for fraud. Auditing standards limit the required audit prOdreS to identify non<ompliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the finanaal statements from irregularities, induding fraud, to be within the override of conlrols by management. Our audit procedures to respond to these risk5 included enquiries of management about their own idenlification and assessment of the risks of irregularities, designing audit procedures over income. sample testing on the posting of journals. reviewing accounting estimates fcy biases and reading minutes of meetings of those charged wth governance. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may nol have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements. the less likely the inherently limited procedures required by audiling standards would identify it. In addition, as with any audit. there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations. or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website aL wMv.frc.o .ukJauditorsres onsibilities. This description forms part of our auditor's report.
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE scorr BOLTON TRUST Use of our report Thi5 report is made solety to the chartty's trustees, as a body. in accordance wtth Part4 of the Charities (Accounts and Reports) Regulations 2008. Our audtt work has been undertaken so thatwe might state to the charity's trustees those matters we are required to state lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our auditwork, forthis report, or for the opinions we have formed. UKUF Crowe U.K. LLP Statutory Auditor St George's House 56 Peter Street Manchester M2 3NQ 9th May 2025
THE SCOTT BOLTON TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 AUGUST 2024 UnrEstrI Funds Year Erthd 31 August 2024 CapitaE Incom¢ Fund Fund 19eneraD Ideslgnated) Unr8stricted Funds Year Ended J1 August 2023 C8pttalFund Income Ftu (pneral) (dasignaÈ8d) Tol81 INGOME Investment inGorne Gross in(x)me from UK Isled Inveslments Bank interost 32.984 145 31,836 31.836 183 145 Total Income EXPENDITURE Raising funds Invostment Manernet fees 10.437 10,437 10.416 10.416 Charltable aotivities Improvement of sodal welfa and conditw)ns of lrfe in young people who a lent in the Borough of Bof(on 35 767 L8 Total ExpEnditur8 Net Incom# l {expendlture) 17.Q57 (32, (15,908) 18.152 (35,76n (17,61 S} Galnsl(losses) on Investment assets: Realised Unrealised 4.685 97.559 (26,663) (24,222) {26,6331 {24,2221 97.559 Transfer of Grant lo Commbttee 000 27 000 NET PIOVEMEPff IN FUNDS Fund baances at 1 September 2023 FUND BALANCES AT 31 AUGUST 2024 The notes on pages 14 to 17 fom part of these financial 5taternen The activities of the Trust are classed as continulng. io
THE scorr BOLTON TRUST BALANCE SHEET AS AT 31 AUGUST 2024 Notes 31 August 2024 37 August 2023 FIXED ASSETS Investments 1.328,976 1,230.914 CURRENT ASSETS Cash and bank Debtors 44.436 65,209 695 CREDITORS: amounts falling due within one year Accruals NET CURRENT ASSErs TOTAL NET ASSETS FUNDS Income fund Capital fund 15,503 1348 002 21,468 1255 702 TOTAL FUNDS The financial statements were approved and authorised for issue by the Board of Trustees and were signed on its behalf on Miss M M Scott Trustee FAScott Trustee WLGSwan Trustee
THE SCOTT BOLTON TRUST CASH FLOW STATEMEpir FOR THE YEAR ENDED 31 AUGUST 2024 2024 2024 2023 2023 NET CASH OUTFLOW FROM OPERATIONS Net cash used by operating activities (58,085) (49,381) CASH FLOWS FROM INVESTING ACTIVITIES Investment income receipts Payment for investments Proceeds from sale of invesbnents 33,130 (266.547) 270 729 32,019 (755,212) 742 777 NET CASH PROVIDED BY INVESTING ACTIVITIES 37,312 19,584 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR CASH AND CASH EQUIVALENTS AT START OF THE YEAR CASH AND CASH EQUIVALENTS AT END OF THE YEAR 12
THE SCOTT BOLTON TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 1. Reconcillalion of net income to net cash oufflow from operating activities 2024 2023 Net Incoming resources (15,908) (17,615) Non-operating cashflows eliminated.- Investment income {Decrease)Ilncrease in creditors Decreasel(Increase) in debtors (33,130) (8,698) (32,019) 948 695 Net cash oufflow from operating activities 2. Analysis of Cash and cash equivalents 2024 2023 Cash at bank The notes on pages 14 to 17 form part of these financial statements. 13
THE sco BOLTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting Policies Basis of Accounting The accounts have been prepared under the historical cost convenlion as modified by the revaluation of investments. In preparing the financial statements the Charity follows best practice as set out in Ihe Charities SORP (FRS 1021- Accounting and Reporting by Charities: ststement of Recommended Practi applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102). The functional currency of the Charity is considered to be GBP because that is the currency of the primary economic environment in which the Charity operates. The Trust is a Public Benefit Entity registered as a charity in England and Wales on 15 July 2008 (charity number: 1125000). The Trust manages operational cash flow to make best use of available resources. Investments held as fixed assets are liquidated rf neSsary. Overall the trustees are confident that the Trust has sufficient resources to continue as a going concem and Consider that there were no material UnrtaIntieS over the Trust's financial viability. b. Income Income from investments is induded in the Statement of Financial Activities only rf received, or declared and receivable. Realised and unrealised gains or losses aristng from the sale or revaluation of invesknents are accounted for within the Statement of Financial Activities. Resources Expended Costs of generating funds relates to the investment managers costs. Grants are accrued for On the Trustees have approved the application. Governance costs includes the costs connected with Ihe Charity's conslitulional and statutory requirements. All expenses are accounted for on an accruals basis. Investments Investhients are stated at market value at the balan sheet date. Fund Accounting Unrestricted funds are expelab]e at the discretion of the Trustees in furtherance of the objects or administration of the Charity. f. Taxation The Trust is a registered charity, and as such is entilled to taxation exemptions on all its income and gains, properly applied for its charitable purposes. 14
THE scorr BOLTON TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 AUGUST 2024 Recognition of Liabilities Liabilities are recognised On there is a legal or constructive obligation that commits the Charity to the obligation. Critical accounting judgements and key sources of estimation uncertainty In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical expertence and other factors that are considered to be relevant. Actual results may dtffer from these estimates. The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. In the view of the trustees, no assumptions concerning the future or estimation UnrtaInty affecting assets or liabilities at the balan sheet date are likely to result in a material adjustment to their carrying amounts in the next finanoal year Charitable activities 2024 2023 Granls awarded Individuals Institutions Prior period Grant awards paid out 5,400 45,504 13,750 39,817 32,965 35,767 Governance costs Total Grants to individuals of £5,400 (2023." £13,750) were awarded to pupils and fomier pupils of Bolton School, in line with the objects of the charity. The institution grants of £45.504 (2023.. £39,817) comprised awards to Bolton School for Equipment at Patterdale Hall. Total Resources Expended No Trustees have received any remuneration or expenses during the year. 15
THE SCOTT BOLTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Investments 2024 2023 Balance at 1 September 2023 Additions in year Disposals Management fees Revaluation gains l(losses) 1,230,914 266,547 (266.044) (10,293) 107 852 1,269,364 755,212 {732,361) {10,416) Balan at 31 August 2024 Historic cost 2024 2023 Government and corporate stock- UK UK equities Investments and unit trusts- overseas 188,470 124.823 1.015,683 129,535 101,065 1,000,314 Cash and Bank 2024 2023 Client money investment deposit Dividend account Income account Current account 222 1,875 25,884 10,797 2,981 18,985 16
THE SCOTh BOLTON TRUST NOTES TO THE FINANCIAL STATEMEKfs (Continued) FOR THE YEAR ENDED 31 AUGUST 2024 Debtors 2024 2023 Accrued income 1,043 695 Unrestricted Funds Balance at 1 September 2023 Incoming Resources resources expended Investment Transfer gains between funds Balance at 31 August 2024 Capital fund Income fund 1,255,702 21,468 33.130 (16.073) 32.965 102.244 (27,000) 27,000 1,348,002 15,503 Total 1,277,170 33.130 49.038 102,244 1,363,505 The income fund is a designated fund and relates to the funds allocated to the management Committee who review applications for grants and decide on grants to be awarded. The transfer beiween funds relates to the amount transferred from trje main unrestricted fund lo the designated fund for this purpose. The remaining balance on the designated fund will be spent in the next financial year. Net assets of the funds of the charrty Investments Net Current Assetsl (Liabilities) Fund Balances Charity Unrestricted Funds Income Funds Capital Funds 15,503 15,503 1348 002 1328 976 Total Unrestricted Funds Related Party Transactions During the year, the Trust paid amounts totalling £4.320 (2023.. £2,214) on normal commercial lemis to Currey & Co LLP for professional services. WLG Swan. a Trustee of the Trust, is also a Partner of Currey & Co LLP. 17