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 (luc￿tional 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 ExAm￿ER 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 Accol￿anCe 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 defer￿d 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 pU￿ose$. 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 awa1￿1ng 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
Tri￿tee5 '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 Ti￿SteeS 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
TrUSt￿S 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 WI￿re 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 I￿anag¢￿ 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 fI￿d 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 ts￿stees 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 Inv￿￿nent (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 2￿6 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 Iiisti￿re 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 d￿￿tional 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 apPi￿Ved 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 SI￿11f1¢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]i￿tiOn 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 expendi￿1? 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 exPl￿7ation 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 N￿￿URE)
(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 y￿AR
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
un￿striCted 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