Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** (Charity Registration Number: 1179862) **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** _Rathbones Trust Company Limited_ Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 INDEX** ## **Page** - 1-4 Trustees' Annual Report - 5 Independent Examiners Report - 6 Statement of Financial Activities - 7 Balance Sheet - 8-13 Notes to the Accounts (including Accounting Policies) Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 TRUSTEES' ANNUAL REPORT** The Trustees have pleasure in submitting their Annual Report and Financial Statements for the year ended 31 October 2024. ## **Objectives and Activities of the Charity** In accordance with the charity's governing document, the trust's objectives are entirely charitable and include: - the advancement of education of the public and / or - any other objects which are entirely charitable under English law, which may or will benefit the public in the village of Blackthorn, Oxfordshire. The trustees fulfil these objectives by making donations and bursary payments. The trustees consider proposals supplied by the school for students specialising in the areas of computing, science, medicine or humanities subjects including english, history and geography. Successful applicants receive an annual bursary payment, subject to a review of the candidates performance. Currently, preference is given to supporting the education of four female students of Clydebank High School, Dunbartonshire. The charity's incoming resources are mainly generated by donations from the Founder. The trustees will hold all funds as Unrestricted Funds, to remain available to meet the charity's objectives. The trustees comply with the duty in S17 Charities Act 2011 to have due regard to the guidance on Public Benefit issued by the Charity Commission when exercising any relevant powers or carrying out duties. ## **Achievements and Performance** During the year the trustees resolved to award bursaries to four individuals totalling £24,000 (£24,000 in 2023). A reporting process has been established between the educational body and Mrs Stevenson, who leads the relationship on behalf of the Board of Trustees. The trustees are delighted with the progress of the students, and enjoy reviewing reports provided. **Page 1** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 TRUSTEES' ANNUAL REPORT** ## **Financial Review** The charity's primary source of income during the year was a generous donation from the founder. Income and interest for the year totalled £25,359 (£31,405 in 2023). The only costs of fund raising related to investment and advisory, totalling £123 (£85 in 2023). Governance costs incurred during the year were £2,940 (£2,580 in 2023). Gains / (losses) are realised on the sale and revaluation of investment assets. During the year ended 31 October 2024 the portfolio held only cash. The trustees held £6,750 (£8,454 in 2023) of charity funds as at the balance sheet date, represented both by cash held, and Gift Aid owed from HM Revenue & Customs. They are pleased to have donated all of the net income received during the year. ## Reserves: The trustees do not maintain a set amount in reserve, however, do consider ongoing commitments when considering their policy on reserves annually. All multi-year donations are awarded following consideration of the reports received and performance criteria being met by each student, such as the passing of exams. Therefore all bursaries are awarded subject to the trustees being satisfied the criteria has been met each year. ## **Structure, governance and management** The Plank Stevenson Bursary is a charitable trust registered in England and Wales. Its governing body are the trustees of a settlement dated 29th October 2015. New trustees are elected by a majority of the then current trustees due to their expertise and what they can bring to the charity. Procedures have not been adopted for the induction and training of new trustees but they ensure they continue to operate within current guidelines by discussing all issues arising as advised by the Charity Commission and Rathbones Trust Company Limited. Mrs Stevenson, Trustee, considers grant applications received from Clydebank High School and is the board of trustees' representative in this respect. Rathbones Trust Company, Trustee, is primarily responsible for ensuring all compliance requirements are met. The Board of Trustees will consider all aspects of the charity's administration and liaise by telephone and correspondence. The trustees are not required to meet in person according to the charity's governing document. The charity trustees have given consideration to the major risks to which the charity is exposed and are satisfied that systems or procedures will be established in order to manage those risks. They regularly consider the areas of governance, operational, financial, environmental and compliance. The charity's assets include investments from time to time and the Trustees have identified that major fluctuations in value of the investment asset values would materially affect the charity's funds. The trustees have therefore delegated the day-to-day responsibility of investing to an investment manager and have appointed an independent financial advisor to provide additional guidance when required. **Page 2** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 TRUSTEES' ANNUAL REPORT** ## **Reference and Administrative details of the Charity, its Trustees and Advisors** Registered No: 1179862 Principal Address: C/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Trustees who Mrs A A Stevenson served during the Reverend C M Goldie year: Rathbones Trust Company Limited The individuals who are directors of Rathbones Trust Company Limited at the date the report was approved: Linda Joyce Cousins - Retired 31 December 2024 Trevor Harris Bruce Robert Newbigging - Retired 31 December 2024 Alexander Richmond James Stephen Hurrell - Resigned 06 June 2025 Kerry Roberts Robert Paul Stockton - Resigned 06 June 2025 Anna Frost Suhajova - Appointed 01 July 2025 Accountancy: Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Investment Managers and Bankers: Rathbones Investment Management Ltd, 30 Gresham Street, London, EC2V 7QN Independent Examiner: Anita Mason BA (Hons) BFP FCA, Mitchell Charlesworth, Suites C,D,E,F 14th Floor, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ **Page 3** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 TRUSTEES' ANNUAL REPORT** ## **Trustees' Responsibilities** The trustees are responsible for preparing the Trustees' Annual Report and Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its income and application of resources for that year. In preparing these accounts, the trustees are required to: - select suitable accounting polices and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Declaration** The trustees declare that they have approved the trustee's report above. ## **As agreed and signed on behalf of the Board of Trustees:** _**Rathbones Trust Company Limited**_ 21 August 2025 | 1:38 PM BST **Dated** **Page 4** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Independent Examiner's Report to the Trustees** I report on the accounts of The Plank Stevenson Charitable Trust for the year ended 31 October 2024, which are set out on pages 6 to 13. This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect: * the accounting records were not kept in accordance with section 130 of the Charities Act, or * the accounts did not accord with accounting records, or * the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirements that the accounts give a 'true and fair' view which is not a matter considered as part of an Independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 27 August 2025 | 3:30 PM BST _**Suites C, D, E, F, 14th Floor, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ**_ **Anita Mason BA(Hons) BFP FCA - Mitchell Charlesworth** _**Date**_ **Page 5** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Statement of financial activities** **----- Start of picture text -----**
Restated
Unrestricted Total Total
Funds Funds Funds
2024 2024 2023
£ £ £
Notes
Income from:
Donations and legacies 4 25,000 25,000 31,250
Investments and interest 5 359 359 155
Total Income 25,359 25,359 31,405
Expenditure on:
Raising funds 6 123 123 85
Charitable activities 7 26,940 26,940 26,580
Total Expenditure 27,063 27,063 26,665
Net Income / (Expenditure) (1,704) (1,704) 4,740
Net movement in Funds (1,704) (1,704) 4,740
Total Funds held as at 1 November 2023 8,454 8,454 3,714
Total Funds held as at 31 October 2024 6,750 6,750 8,454
**----- End of picture text -----**
**Page 6** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Balance Sheet as at 31 October 2024** **----- Start of picture text -----**
Restated
Unrestricted Total Total
Funds Funds Funds
2024 2024 2023
£ £ £
Notes
Current Assets
Debtor 10 11,250 11,250 6,250
Cash at bank and in hand 11 1,020 1,020 4,784
Total Current Assets 12,270 12,270 11,034
Current Liabilities
Creditors: amounts falling due 12
within one year 5,520 5,520 2,580
Net Current Assets 6,750 6,750 8,454
Total Net Assets at 31 October 2024 6,750 6,750 8,454
Represented by:
The Funds of the Charity
Total Charity Funds at 1 November 2023 8,454 8,454 3,714
Movement in Funds (1,704) (1,704) 4,740
Total Charity Funds at 31 October 2024 6,750 6,750 8,454
Agreed and signed on behalf of the Board of Trustees:
21 August 2025 | 1:38 PM BST
Rathbones Trust Company Limited Dated
**----- End of picture text -----**
**Page 7** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** ## **1 Charity Information** The Plank Stevenson Bursary is a Public Benefit Entity governed by a Settlement Deed dated 29 October 2015 and registered in England and Wales. The principal address is c/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW. ## **2 Accounting Policies** ## **Accounting Convention** These accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 202") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The accounts have been prepared to give a 'true and fair' view and so have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure consists of adopting the current version of the SoRP (FRS 102). The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention, modified to include the revaluation of investment assets at fair value. The principal accounting policies adopted are set out below. The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. ## **Going Concern** At the time of approving the accounts, the trustees have a reasonable expectation that charity will continue to receive adequate resources to continue in operational existence for the foreseeable future. Thus the trustees adopt the going concern basis of accounting in preparing the accounts. ## **Charitable Funds** Unrestricted Funds held are available for use at the discretion of the trustees to further the charity's objectives, unless the funds have been designated for other purposes. ## **Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation, subject to confirmation being received that it may be claimed, and credited to the fund associated with the gift unless the donor states otherwise. **Page 8** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** ## **Expenditure** Expenditure is recognised when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date. Cash grants made are recognised when paid. Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources in no longer required, provisions are reversed and charged to the SoFA. ## **Governance costs** Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. ## **Cash and cash equivalents** Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **Financial Instruments** The charity has elected to apply the provisions of S11 'Basic Financial Instruments' and S12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the charity become party to the contractual provisions of the instrument. Financial assets are offset, with the net amounts presented in accounts, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settlor on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. **Page 9** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** ## **Cancellation of financial liabilities** Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **Taxation** The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates. ## **3 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There were considered to be no critical accounting estimates or judgements applied in the preparation of these financial statements. |**Unrestricted**
**4 Donations and legacies**
**Funds**
**2024**
**£**
*
Cash
20,000
Gift Aid on donations received
5,000
25,000
*No restrictions were placed on the donation received by the Founder (note 14).
**Unrestricted**
**5 Investments and interest**
**2024**
**£**
Bank interest
359
359
**Unrestricted**
**6 Raising funds**
**2024**
**£**
Investment Management fees
21
Advisory fees
102
123|**_Unrestricted_**
**_Funds_**
**_2023_**
**_£_**
_25,000_
_6,250_
_31,250_
**_Unrestricted_**
**_2023_**
**_£_**
_155_
_155_
**_Expendable_**
**_Endowment_**
**_2023_**
**_£_**
_20_
_65_
_85_| |---|---| **Page 10** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** |**7 Charitable activities**
**_Grant making:_**
Individuals - 4 student bursary payments
Total Bursaries awarded
Governance costs (note 8)
**8 Governance costs**
Accountancy, tax, compliance and administration fee
Independent Examination fee|**Unrestricted**
**2024**
**£**
24,000
24,000
2,940
26,940
**Unrestricted**
**2024**
**£**
1,800
1,140
2,940|**_Restated_**
**_Unrestricted_**
**_2023_**
**_£_**
_24,000_
_24,000_
_2,580_
_26,580_
**_Restated_**
**_Unrestricted_**
**_2023_**
**_£_**
_1,440_
_1,140_
_2,580_| |---|---|---| The 2023 figures have been restated to include a provision for the Independent examination fee which was omitted from the previously published set of accounts. ## **9 Trustee and Employee remuneration and expenses** No trustee is remunerated for acting as trustee. No amounts have been paid to the trustees during the year ended 31 October 2024 or the previous year for out of pocket expenses. Payment of £1,800 (£1,440 in 2023) is due to be made to Rathbones Trust Company for professional services provided only. Rathbones Investment Management (RIM) and Rathbones Trust Company (RTC) are both wholly owned subsidiaries of Rathbones Group plc. The investment management is undertaken by RIM at their standard terms as offered to other charities. RTC is not obliged to appoint or retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management. The matter is monitored and kept under review to ensure that the charity receives appropriate and cost effective investment management services. The trustees have appointed an independent financial advisor to provide additional guidance. The charity had no employees during the year ending 31 October 2024 (nil in 2023). |**10 Debtor**
HM Revenue & Customs|**2024**
**£**
11,250
11,250|**_2023_**
**_£_**
_6,250_
_6,250_| |---|---|---| **Page 11** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** |**11 Cash at Bank and in Hand**
Cash at Bank
**12 Current liabilities:**
**amounts falling due within one year**
Rathbones Trust Company Limited
Rathbones Trust Company Limited - prior year
Mitchell Charlesworth
Mitchell Charlesworth - prior year
**13 Financial Instruments**
**Carrying amount of financial assets**
Debt instruments receivable within one year
- Cash
**Carrying amount of financial liabilities**
Payable within one year
- Creditors|**2024**
**_2023_**
**£**
**_£_**
1,020
_4,784_
1,020
_4,784_
**_Restated_**
**2024**
**_2023_**
**£**
**_£_**
1,800
_1,440_
1,440
_0_
1,140
_1,140_
1,140
_0_
5,520
_2,580_
**_Restated_**
**Unrestricted**
**Unrestricted**
**Total**
**_Funds_**
**Funds**
**2024**
**_2023_**
**£**
**£**
**_£_**
1,020
1,020
_4,784_
5,520
5,520
_2,580_| |---|---| ## **14 Transactions with related parties** The trustees have considered personal or other interests in which as a result of a decision made where an individual may benefit financially or otherwise, either directly or indirectly. In order to comply with their duties, the trustees confirm the person affected does not take part in any discussions relating to the issue concerned other than to clarify facts. A donation of £20,000 was received during the year, made by the Chair. No restrictions were placed on the donation received. A payment of £1,800 (£1,440 in 2023) due to Rathbones Trust Company as at 31 October 2024 for professional services rendered. No other disclosures are required in respect of related party transactions during this or the previous financial year. **Page 12** Docusign Envelope ID: 578EFD4B-7689-40D9-BBBB-1EC166090BCBDocusign Envelope ID: 0B724C4C-4B67-49D2-B389-58A6DD84E4B8 ## **THE PLANK STEVENSON BURSARY** ## **UNAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024** ## **Notes to the Accounts** |**15 Financial Commitments**
Student SM
Started September 2023 for 3 years
Student EK
Started September 2023 for 4 years
Student KF
Started September 2023 for 4 years|**31/10/2025**
**31/10/2026**
**£**
**£**
6,000
0
6,000
6,000
6,000
6,000
18,000
12,000| |---|---| There were 4 students who received bursaries in 2024. Of these, 3 are subject to students submitting successful reports and meeting with the charity's criteria, such as passing exams. The position is reviewed by the Trustees annually and a decision made as to whether the next year's bursary is awarded. |**16 Comparative statement of financial activities**
**Income from:**
Investments and Interest
Donations and Legacies
**Total Income**
**Expenditure on:**
Raising funds
Charitable activities
**Total Expenditure**
Gains/(losses) on investment assets
**Net Income / (Expenditure)**
Transfers between funds
**Net movement in Funds**
Total Funds held as at 1 November 2022
**Total Funds held as at 31 October 2023**|**Restated**
**Restated**
**Unrestricted**
**Expendable**
**Total**
**Funds**
**Endowment**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
31,250
0
31,250
155
0
155
**31,405**
**0**
**31,405**
0
0
85
85
26,580
0
26,580
**26,580**
**85**
**26,665**
0
0
0
**4,825**
**(85)**
**4,740**
(85)
85
0
**4,740**
**0**
**4,740**
3,714
3,714
**8,454**
**0**
**8,454**| |---|---| **Page 13**