REI GISTERED CHARITY NUIVIBEI R: SC015662 Report of the Ti'usteos and Unaudited VinaDei#l Statements for the Yeai. li nded 31 Myi'ch 2025 for General Nui3ing Couneil for Scotland Educational f*und 1983 The Kelvin Paitnersliip Ltd CliaileiEd Accountants The Coopei. Buildiiig 505 Great Western Road Glasgow G12 8HN
Genei'AI Nui'sing Council foi. Seotliqnd i (luctional Fund 1983 Contents of tlie Financial Statenients for the YeAr Ei nded 31 MArch 2025 Page Refeirnce and Administi'ative Detsils Report of the Trustees Independent Ei xamiller's R¢port StAtement of Finaneial AcliYitÉes BaIan¢e Sheet Notes to the Fingneial Stlltements 8 to 14 DetAil¢d Statement of FinAn¢ial Activities 15
G¢nei'al Nuislng Council for Scotland Educlltional Fund 1983 Reference and A(Iministr*tive Details for tlie Year Ei nded 31 Mireh 2025 TRUSTLI S PRllYCTrAL ADDRESS NHS EdiKation for Scotlaiid 102 Westpoit EDfNBURGH EH3 9DN REGISTERED CHARITY NUMBER SC015662 INDEpEf4DEI ExAmER The Kelvin PaitnpAship Ltd . Chartcred Accounknnts The Cooper Biiilding 505 Great Western Road Glasgow G12 8H SOLICITORS Anderson Stratliern GeoiEe Hous¢ 50 GeoiEe Square Glasgow G2 IEH BANKERS The Co-operative Bal plc P.O.Box 101 l Ballooii Street Manchester M60 4EP Page I
CFenei'l Nui'sing Coiincil for Scotland I ducAtionRI Fund 1983 Report of the Ti'ustees for the Year nded 31 Mai'eh 2025 The Tiwstees Iiave pleasuiE in pi'esentiiig theii. i-eport foi. tlie year elided 31 Maitli 2025. Tliis i'epoit is prepai'ed in AccolanCe with the foiiiiding dociimeiit of Genei'al Niii-sing Council foi, Scotland Educational Fiind 1983 ('fhe Fund) and the Accountiiig aiid Repoi'ling by Chai'ities: Statement of Recoinmeiided Pi?¢tice applicable to cliarities iii prepai'ing tlieii. accoiints in aocordance with tlie Financial Reportiiig Standai'd as set oiit in relevant law and i'egLilation in the Utc aiid Republic of Ireland (FRS 102) and complies with applicable law. .OBJEcfIvJ£s AND AcfIviTIES Objectives and Activlties Tlie objective of tlie Fund is to provide IEsoiirces to siippoit ediication and developinent foi. Jegistered nurses and illidwives i'esideiit and workiiig in Scotland. Funding suppoits educational developinent opportunities aiid small-5cale quality iTnproveinent pix)jects foi. practitioiiei's working iii diffei'ent healtli aiid care settings. The awaids are disbuiEed annually. Recipients of tlie award illust demoiistrate how their leaimiiig will ts'aiislate iiito diiect benefit to patieiit care oi. nuftsiiig and midwifery practice. Grantmalitng The Trustees have agired to annual disbursements. Tlie Flind invites applications foi. funding of pix>je¢ts by ' adveitising in specialist media and Inakes use of social Inedia to spiead awareness of The Fund via the NHS and othei. networks. Applications ait SLibmitted oil a standard form, are i'eviewed against our funding criteria examined by an independeiit expeit disbui'semeiit panel, aiid i'ecommended foi. approval wliere they meet our ci'tteria. Grants are advertised and awarded through a process which i'equires the ieturn of a i'epoit froin each grdnt holder on completion. ACHlti vfi MENTS AND PERFORMANCEI Chi?ritgble oetfivitics Dui'ing 2024125 there were 30 new applications to the fund, of which. 17 weiE suppoited with theii. educational and development opportuiiities. There were iio deferd applications fi'om the pi'evioiis yeai-. Of the successful applicants.. 13 weit supported to undei'take educational developjnent, twc) welt SUPPOrted witli small-scale projects and two were suppoited witli stiidy toui's. Applicanls i'aiiged froin Adult, Mental Health and Cliild fields of pitctice aci'o88 NHS, CAMHS aiid l-Iospice settlngs. Topics included: dennatology, lymphoedeina, pain managemeiit, advanced pi'actice, IniiidfuIness and ¢liniLal ediication. The tivst also sponsored one peison to coinplete the prestigious Queen's Nui'sing Institiite Leadeiship Development Pi'ogramme. The study toiii's wei'e to pi'esent at an Endoci'inology confeiEnce in Sweden and to attend the NTETNEP confetEnce in Siiigapore. Notably, there were no Inidwifeiy submissions foi. this cohort, Investment perforn12nce Dui-ing the yeai. to 31 st March 2025, the investments genernted a total retiii'n of 2.5 %. Thi5 iesult came at the end of a dramatic yew. whelp until the mid-Februaiy, the portfolio had enjoyed a strong run on tlie back of political stability thanks to the peaceful passing of inultiple elections, steady global economic gi'owth and excitement sui'i'ounding Ai'tificial Intelltgence. Mai'ch howevei. biDught with it concei'ns itgai.dli the ijnpositions of US tai'iffs and mai'kets fell back on worries over the impact diis would have oli global economic and the geopolitical relationship5. Tlie peifoi'mance kept pace with the ARC Steady Growth Charity benchmark and the fund geiieiEted iiicoine of £30,980 ovei. tlie yeai-, equivalent ,lo an income yield of 2.4%. The respoiisible investment ci-itei'ia al'e being upheld in the maiiagement of the &55ets aiid the flind iEinains well positioned to meet the long-term objectives. Page 2
General Nui'sing Coiincil for Scotland Educational Fund 1983 Repoi't of the Trustees ror the Yeai. Ei nded 31 March 2025 FINANCIAL REI VIEI W Principal funding sourees The inain activities of the charity are funded by investinent tncome. Net loss foi. the yeai. before gains oli investments w&s £33,633 (2024 £42,112). Ove1711 expendrture has deciEased by £7,133 (2024 incre4sed by £14,693). The deciEase in costs has occui'i'ed due to a reduction in investiiient manageinent fees of £6k, tliis ts down to prior yeai. costs including £6k of iinderlyiiig costs that in the current yeai. are reflected in the investinent fund valuation. Salaiy reohai'ge is down also by £2k. Reseiwes policy All -ant itlated expeiiditui'e is at the disciEtion of the Disbiirseinent Coininittee aiid non-grant Ètlated expenditiire is approved by Thijstees. Actual fi'ee reserves at 31 Mar¢li 2025 wei'e £ 376,202 (2024 £417,327). The fund is managed sucli that unrestt'icted fund balances al'e iised to cover cssential adintnistt7tive costs and giant fiinding. Cash balances held aiE generally to covei. approximately 6 months of activÉty- The Triistees aim to balance expenditutE against income and are reviewing the Reserves Policy for futLiie years. Taxation The Fund is a chai'ity and is I'ecognised as such by the HMRC for taxation pUose$. As a i'esiilt, thei'e is no Ixability to taxation on any of its incoine. FUTUREI PLANS Tlie Ti'ustees intend to continue to fost. the educational development of i'egistered niii%es and midwives practising in Scotland by awa11ng g'ants foi. sttidies or rwearch oi. quality iinpiDvement projects relal¢d to nurse and Inidwifes educatioii oi. to flind stiidy tOUl'5. There is pi'ovision linder point 5(h) of the Constitution of the Genei'al Nursing Council (Education) Fund 1983 and MwEatEt Callum Rodger Midwifeiy Award for Tritee5 'to promote, encoui'age, carry oiit oi. commission itsearch. surveys. studies or other work, making the iiseful results available,. To date, this pi'ovision has not been enacted but will be reviewed foi. considei?tion in the next ffftiiancial yeai.. The Ti'ustees have 8grc¢d to take the opportunity in the coining yeai. to consult key stakeliolders on tliis and iElated matte13 with i'egard to the futtire operation of the cliai-ity. ffliUCTURtI, COVEI RNANCLI AND MANAGEMENT Govei'ning document The chw-ity is controlled by its govei'ning document, a deed of ts'ust and constikntes an unincoiporated chai'ity. Havlng taken legal advice, the trustees intend to conveit the constitutional ai'rangements govei'ning the chai-ity to tlje effect that in 2025-26 it will become a Scottish Chai'itable Encoj'poizted Organisation (SCIO). Chllrlty eonstitution The Fund was set up with tlie net proceeds fiom the sale of tlie foi'tnei. General Niii'sing Council foi. Scotland pi'emises in Dai'naway Sti'eet, Edinbiii'gh by tlie Nattonal Boai'd foi. NursRng, Midwifery and Health Visiting foi. Scotland, a predecessor body of NHS Education foi. Scotland, iii 1983. 111 1992, a donation of £25,000 froin the estate of tlie late MaiEaret Calliiin Roger was added to The Fund. The inanageinent of Tlie Fund is the responsibility of the TrLlStees. Tlie TiSteeS rely oli the GNC Fund pi'oject team and disbui'sement panel to disti'ibute informatioii coiicei'ning awards. 'I'he day to day financial Inaiiagement of tlie cl)arity is delegated to tlie DiiECtoi- of Finance al NHS Ediication for Scotlaiid. Page 3
Ceneral Nursing Council for Scotland Educational Fund 1983 Report of the Trustees for the Year Ended 31 March 2025 STRUCTUREI, GovifRNANCE AND MANAGEME Ap[intMellt, Induction And Trginiiig of neiv trustees TrUStS appointed by the Board of Triislees foi. a five-year term of appoiiilment. retiring trLLSte&8 MAY be ieappointed, Trustees are provided with genei?I bi'iefings to ensure that they aiE familial. with The Fiind. If thei'e are any ai'eas WIre additi01121 ts7ining is I'eqiiii'ed, thi8 will be discussed at a trustees. Ineetiiig and a solution identified. Furtliei. training opportLinities foi. Trustees aiE provided by oui. fuiid managers, Risk management The ts'uslees have a duty to identify and review the risks to which the chority is exposed and to ensiire appi-opiiale controls ale in place lo provide i'easonable assurance againsl fi'aiid aiid en'or. The Boat of Tiustees have assessed the major i-isks to whicli The Fiiiid is exposed, in particiilar those IElated to the opeTatioiis and financing of The Fund and are satisfied that systems aiE in place to mitigate theii. exposiire to tIIc iTtajoi- risks. The tnajoT risk in view of the ti'ustees 18 the volatility of the sto¢k rnai'ket and fund Ianag¢ air appoinicd to assist in th¢ management ofthe funds. The inYe5tment rtfoliO is managed for the long t¢rin with the objective of protecting the long-teri valiie of the fId against infiatioii a5 well as g¢nei'ating incoime to support the chaiitable activities of the fllnd. It is invested for the loiig term iii a diversified poitfolio of assets by the specialist chai'ity tsam at RBC Bi'ewin Dolphin. Ali anniial risk and siiitability discussion takes plac¢, and Ilie poilfolio is managed taking a 'mediiim' approach to risk which ¢qiiates to a portfolio with ai'ound two thii'ds of the assets being invested in equities witli the balancc in fixed intercst, cash aiid altematives. Th¢ Tiustees appIEciate thal a fund invested in this way has the pote]la1 to poithiy volatility in value over the shoit t¢i-m but given the long-temi iiivestment time horizon, al-e liappy io review aiid manage the portfolio witli specialist aiid iiidependent advice and manageinent through such periods of volatility iii pursuit of long-tei'in retiim5. Taking this appiDach, the Fund is well placed to support all activities and existing cominitmenls aiid given the c&8h reseives and desire for capital growtlu the distributions do not rely solely on the incoine geneiated. As such the Trustees are confident that the Fuild continLies to be a going concerji. Approved by ol'der of the board of tsstees on l 8 December 2025 arjd signed on its behalf by: Page 4
Independent xaminer's Report to tlie Trustee5 or General Nui%lng Council for Scotland Educational FuDd 1983 l pOlI on t1 accounts foi. the year ended 31 March 2025 set out oli pages six to fourt. Respective responsibilities of li'iistees an(1 exaniiner The charity's ts'ustees aiT respoiisible for the pieparation of ihe accounts in accordance with the terms of the Charities and TrLlStee Invnent (Scotland) Act 2005 and the Charities Accounls (Scotland) Regulalioiis 2006 (as llended). Thc cliai'ity's ts'ustees consider that the aiidit itquireineiit of Regulation l O(l)(a) ¢0 (c) of the Accounts Regulations does not apply. It 15 my responsibility to exarnine the accounts as ffquir undeT SeLtion 44(1)(c) of the Act and to state whether paiticiilai- matters have come io iny atteiition. Basis of the independcttt exaininer's repoi't My examination was carj'ied out in acci)rdance with RegLilation I l of tlie Charities Accouiits (Scotland) Regulations 2006. Ali exainiiiation incliides a review of the accounting recoi'ds Icept by the charity aiid a comparison of tli¢ accouiits pi-e5entcd wilh those i'ecords. It also includes consideratioii of any unusiial items OL. di5closUi-CS Iti the accounts, and seeking explanations froin you as tl'LlStees concerning any such Inattei'5. Tlic piDcediires und¢rtak¢n do iiot provide all the evidence that would be requtlEd in ali audit, and ojisequcntly I do not expr an audit opinion 011 the view given by the account& Independent examiner's statement In coniiection with Iny examination, no mattel. has coine to my attention . (l ) which gives me reasonable caiise to b¢li¢v¢ that, in any material respect, Ihe reqiiirements to keep accounting I'ecoi'ds ii) accordance with Section 44(1)(a) of the 2Th)5 Act and Regulation 4 of the 26 Accounts Regulations; and to prepare accounts which accord with the a¢counÉing recoids and to comply with Regulatioii 8 of the 2006 Accounts Regulations have not been mel. or (2) to which, in my opinion, attention sliould be di'awn in order to enable a proper iinderstaiiding of the accounts to be reached. Tlie Iiistire of Chart¢i'ed Accoiintaiits of Scotland The Kelvin Paitnei3hip Ltd Charlered Accountaiits The Coopei. Biiilding 505 GIEat WesterJE Road Glasgow G128HN 18 Decembei. 2025 Page 5
Genei'al Niii'sing Council for Scotland ducationAi fiund 1983 St4qtement ofFinanciil Activities foi. tlie YeAr li nded 31 March 2025 31.3.25 Total fijiids 31.3.24 Total funds Umrsti'icted Endowinent fiind fund Notes INCOMEI AND Et NDOWMENTS FROM Investment incoine 30,890 30,890 29,544 EXPII NDITURE ON Raising funds 8,613 8,613 13,971 Charitsble activities Chai'itable Activities Govei'tiance costs 52,910 3,000 52,910 3,000 54,685 3,000 Total 64,523 64,523 71,656 Net gains/(losses) on investments (7,492) 7,960 468 98,879 NEI T INCOMU{EXPEIYDITURE) (41,125) 7,960 (33,165) 56,767 RECONCILIATION OF FUNDS Total fund5 broiight forwai'd 417,327 761,310 1,178,637 1,121,870 TOTAL FUNDS CARRIED FORWARD 376,202 769,270 1,145,472 1,178,637 The notes foj'ill part of these financial slateinenls Page 6
Genei'al Nlli'sing Council loi. Scotland fi dtional Fiind 1983 Balance Sheet 31 Mai'eh 2025 31,3.25 Tottil flinds 31.324 Total fund5 Unresti'i¢ted Endowment fuiid fund Notes IXEI D ASSETS 1iivestm¢nts 289,419 769.270 1,058,689 1,125,159 CUIIRENT ASSII TS Debtors Casli at bank l49 103,023 149 103,023 1,237 59,058 103,172 103,172 60,295 CREDITORS Arnounts falling du¢ within one year (16.389) {16,389) (6,817) NET CURRENT ASSETS 86,783 86,783 53,478 TOTAL ASSETS LEI SS CURRENT LIABILITIES 376,202 769,270 1,145,472 1,178.637 NET ASSEI TS 376.202 769.270 1,145,472 1,178,637 FUNDS Uni'esti'icted funds Endowmei)t fiinds 376,202 769,270 417,327 761,310 TOTAL fuNDS 1,145,472 1.178,637 The financial statements wcre apPiVed by tlie Board of Tnistees and authoiised for issue on The notes foi'in part of these financial statements Page 7
Genei'AI Nui'sing Coiincil for ScotlAnd. EducAtion31 Fund 1983 Notes to the Financial Statements for the YCAI" nded 31 March 2025 ACCOUNTING POLICICI S Basis of preparing the financial stAtemen¢s The finaiicial statemei?ts of the cliai'ity, whicli is a public benefit eiitity iindei. FRS 102, Iiave been prepaiyd in accordance with the Chai'ities SORP (FRS 102) 'Accoiinting atid Reporting by Cliai'ities: Stateinent of Re¢oinineiided Pi'aclice applicable to cliai'ities pi'epai'iiig their accounts in accoi'dance with the Financial Reporting Standai'd applicable iii the Ut< aiid Republic of li'eland (FRS 102) (effective l January 2019),, Finaiicial Repoiting st)daI'd 102 'Tlie Fijiancial Reporting Standard applicable in tlie UK and Republic of Ireland, and tlie Chai'ities and Ti'ustee Investment (Scotlaiid) Act 2005. The financial. statements have been PiEpared undei. tlie histoi'ical cost convention, with tlie exception of iiivestments wliich are included at market value, as Jnodified by tlie IEvaliiation of ceitain assets. The 'Fiind Ineets the defiiiition of a public beiiefit entity under FRS 102. Assets and liabilities al'e initially ircognised at Iiistoi-ical cost unless otherwise stated in the relevant accoiintiiig policy. The pi'epai'ation of financial statements requii'es the use ot c¢itain critical accountiiig estimates. It also requiiEs trustees to exercise their jiidgeineiit in the process of applying the aocounttng policies. Use of available infoi'matton and application of judgement aiE inherent in the foiThation of estimates. Actisal oiitcornes iii the fitttire could diffei, fmin such estiinates. The areas Involving a higher degj'ee of judgement oi. complexity, or areas whei'e assuinptions and estimates are SI11f1¢ant to Ihe fin8Ji¢ial statements are disc105ed in note 2. The pft'incipal accounting policies applied in the preparation of these finaiicial statements al'e noted below. These policies have been applied coiisistently to all tlie yeai's presented in dealing with items which are considered inatei'ial in Felation to the chai'ity's financial statements uiiless otheiwise stated. Recognition of income All income is recogiiised in the.Stateinent of Financial Activities once the Gharity lias legal entitleinent to the income, it is pi'obable that tiie income will be irceived and the ainouiit cati be Ineasiiird i'eliabfy. InteJEst and dividends air included when the right to receipt is established and is Jneasured at tlie ti'ansaction value. Recognition of expenditure Liabilities are iecogiiised as expendituiE as soon as thei'e is a legal oi. consti'uctive obligation coinmitting the chai'kty to that expendituiE, it is probable that a transfei. of econojnic beiiefits will be i'equired in settlement and tlie amoiint of the obligation can be measuitd reliably. Expenditiire is accounted foi- on an accruals basis and has been ¢1ossified under h¢adings that aggi'egate all cost related to tlie categoi'y. Wliei'e costs caniiot be diiE¢tly atti'ibuted to paiticiilai. headiiig5 they have been allocated to activitie5 on a basis consistent with the use of resoiiires. Charitable expenditure comprises those costs iiicurred by the charity in the deliveiy of its aotivities and seivices for its beneficiai'ftes and the govei'nance costs associated with ineeting tlie constitutional and statutoiy iequii'eineiits of 'the Charity. Tliese includes the audit fees and costs linked to the strategic inanageinent of the cliai'kty. Cost of i'ai5ing lidS consists of investment manageinent fees, Page 8 continued...
Geiieiyl Nui'5iThg Council foi. Scotland Educational fiun(11983 Note5 to the Flnaiicial Statement5 - continued for the Yeir Ended 31 Marcli 2025 ACCOUNTING POLICIE¢ S - continued Cliaritable activities This is incliides the matn activilies of the cliarity which is the awarding of gi'ants. Gi'ants payable aiE charged to the Statement Of Financial Activities (SOFA) when tlie app]itiOn is appi'oved ond a valid expectation is created with the i'ecipieiit that tlie 'ant will be paid. Whei'e the grant offei- is conditional, siich ants air not i'ecognised in the expenditure iintil the coiiditions are met. Taxation The charity is exempt from t8x oil its charitable aotivities. The Ti'usl is not registered for VAT and accoidiiigly expendi1? incliides VA T wherè appiDprÈate. Fund aeeounting Urn-ests'icted funds can be iised iii accordance with the chat'itable objectives at the disci'etion of the trustees. Restricted funds can only be used for particular r¢sts'icted PUTposes withiii the objects of the cliai'ity. Restrictions ai-ise when specified by the donor oi. when funds al'e raised foi. particular restricted purposes. Fuither exPl7ation of the natiiir and purpose of each fund is included in the notes to the flliaiictal statemeiits. Going concern The finaiicial stateinents have been prepared 011 a going concern basis. The Trustees have assessed the chai'ity's abiltty to continue as a going concern, includTng the impact that the Coronavirus pandemic has had on the charity and Iiave reasonable expectation that the chartty has adequate resoui'ces to continue in opeiatioiial existence foi. the foi'eseeable futiii'e. I'hus they continue to adopt tlie goiiig concern basis of accoLinting in prepai'ing the finaiicial statements. CIUTICAL ACCOUNTING JUDGILMII NTS AND Y SOURCES OF ESTIMATION UNCERTAINTY In the application of the chai'ity's accounting policies, tli¢ Trustees are i'equired to make judgements. estimates and assumptions about the carying amount of assets and liabilities that are not readily appareiit from otlier sources. The estimates and 85SOCtated assumptions al'e based on histortcal experience and othei. factors that are considered to be relevant. Actual results may differ froin these estimates. The estimates and undei'lying assumptions 'e ieviewed on an ongoing basi5. Revisions to accounting estimates are I'ecognised in the period in which the estimate is i'evised wliere the revision affects only that pei'iod, oi. in the pei'Éod of the revision and fuiuit periods wheir tlie I'evision affects both die CUITent aiid futiii'e pei-iods There al'e no estimates oi, assuinptions wld) a 5ignifLcant i'isk of ¢aiTsing a inateiial adjustment to the cariying amounts of assets and liabilities witliiii the financial stateineiits. Page 9 continued...
Genei'AI Nui'sillg Coiincil for Scotland idueational Fund 1983 Notes to tbe FlnAneial Statcments- continued foi. thc Yeir Ended 31 Mareli 2025 rNvEI STMfi NT INCOM 31.3.25 31,3,24 Dividends 30,890 29,544 TRUSTEES, REI tIWNERATION AND BENfFITS There weiE no tnTStees' iemuiieration oi. othej. benefits foi. the year ended 31 Mairh 2025 nor foi. tlie year ended 31 March 2024. Trustees, expenses Theie W.e no tiwstses, expenses paid for the yeai. ended 31 Marcli 2025 nor foi. tlie year ended 31 March 2024. COMPARATNEI S FOII THEI STATEMEI NT OF FINANCIAL ACTivrriES UniEsts'icted Endowillent fund fund Total funds INCOIIIL AND ENDOWIIICI NTS fiROM Investment incoine 29,544 29.544 I XPENDITIIREI ON Raising funds 13,971 13,971 Charitable activities Chai'itable ActivÈties Governance costs 54,685 3.000 54,685 3,000 Total 71,656 71,656 Net gains on investtnents 22,425 76,454 98,879 NET INCOMff l(EXPlI NURE) (19,687) 76,454 56,767 Rfi CONCILIATION OF FUNDS Total funds bi'ouglit foiivai 437,014 684,856 1,121,870 TOTAL FUNDS CARRIEI D ORWARD 417,327 761,310 1,178,637 Page 10 continlied...
Genei'al Nursing Council for Scotland Edueationai fiund 1983 Notes to the Financial Statements - eontinued for the Yeai. Ei nded 31 Mai'ch 2025 FIXEI D ASSEI T INVEI STMEIYTS Listed investments MARKEI T VALU At l April 2024 Acqiiisitions at Cost Distx)sals at opening book value Net iini'ealised gaiiisl(losses) on i'evaluations Cash withdrawn fADin iiivestsnent 1,125,159 239,577 (282,813) 57,673 (80,907) At 31 March 2025 1,058,689 NET BOOK VALU At 31 Mai'ch 2025 1,058,689 At 31 March 2024 1,125,159 Tliere weiE no investtnent assets outside thc UK. Cost or valuatioii at 31 March 2025 15 representsd by: Listed investments Valuation in 2024 Valiiation in 2025 1,125,159 (66,470) 1,058,689 DEI BTORS: AMOUNTS FALLING DUE WITHIN ONEI YEAR 31.3.25 31.3.24 Prepayments and acci'ued incoine 149 1,237 Page 11 continued...
Genei'xl Nui-sing Council foi. Scotl4qnd I ducational fund 1983 Notes to the FinanclAI Slatements- continued foi. the Yeaj. nded 31 M2rcli 2025 CREI DITORS: AMOUNTS FALLING DU[t WITHIN ONEI yAR 31.3.25 31.3.24 Ti'ade CiEdito 16,389 6,817 MOVEMENT IN FUNDS Net movement in fiinds At 31.3.25 At 1.4.24 unstriCted funds Geiieial fiind 417,327 (41,125) 376,202 i lldoivment funds Eiidowinent Fulld 761,310 7,960 769,270 TOTAL FUNDS 1,178,637 (33.165) 1,145,472 Net movement in fiinds, included in the above are as follows.. Incoming resoL]rces Resources expended Gains and Moveinent losses in funds Unrestricted funds General fund 30,890 (64,523) (7,492) (41,125) I ndoivment funds Endowment Fund 7,960 7.960 TOTAL FUNDS 30.890 {64,523) 468 (33.165) Page 12 continiied...
Genei'al Nursing Council for ScotlRnd Idueational Fund 1983 Notes to the fiinaneial Statem¢nts- contliiued for the Yeai" nded 31 March 2025 MOVEI MCI NT IN FUNDS - eontinue(I Compai'atives for movement in funds Net moveinent iii fiinds At 31.3.24 At1.4.23 Uni'oqtj'leted fund5 General fund 437,014 (19,687) 417,327 End0}ent funds Endowment Fund 684,856 76,454 76l,310 TOTAL fi UNDS 1,121.870 56,767 1,178.637 Compw'ative iiet movement iii fvnds, included in the above are as follows: Incoming resoiii'ces Resources expended Gains and Movement losses in fltnds Unrestricted funds Genei'al fiind 29,544 (71,656) 22,425 (19,687) Endowment funds Endowment Fund 76,454 76,454 TOTAL VUNDS 29,544 (71.656) 98,879 56,767 Tlie Endowment Fund was set up with the pi'oceeds from the sale of the foi'mei. General Nursing Coiincil for Scotland pr¢inises. The Tiustees intend to illaiiitain, a5 far as possible, the real value of The Fuiid. Income arising from The Fuiid is held in the unrestt'icted fund and used to ineet tlie charity's objectives. Page 13 continiied...
GenerAI Nuising Council loi. Scolland fducational Fund 1983 Notes to the Financial Statements- continued for tlie YeAI' Li nded 31 March 2025 10. RELATED PARTY DISCLOSURES There We iio related paity transactions foi" the year elided 31 March 2025. Page 14
Ceneral Nui'sing Council foi. Scotland I ducxtional Fund 1983 Detsiled Statement of Financial Activllies for th¢ Yeai" li nded 31 Mllj'ch 2025 31.3.25 31.3.24 INCOME AND NDOWMENTS Investment ineome Dividends 30,890 29,544 Total incoming resources 30,890 29,544 EXPEIYDITURE Raising donatton8 and legacies Investment inanagement fees Investinent wealth fees 7,413 1,200 12.771 1,200 8,613 13,971 Charitllble gctivities liisurance SponsoiBhip and Doiiations Grants to individuals Salaiy rechai'ge Bank Charges 118 10,000 28,114 14,678 114 10,000 27,646 16,889 36 52,910 54,685 Support costs Governancc cosls Accoviitancy fees 3,000 3,000 Total itsoiiire5 expended 64,523 71,656 Net expenditure before gaiiis and1055e5 (33,633) (42,112) Realised recognised gnins Ind losses Realised gainsl(losses) on fixed asset investments 468 98,879 Nct (¢xpendltiire)lineome (33,165) 56,767 This page does not foi'in pait of the statutory fiiiancial stateinents Page 15