Charity registration number SC037699 (Scotland)
THE CAMERON TRAVEL SCHOLARSHIP TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
THE CAMERON TRAVEL SCHOLARSHIP TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 - 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 17 |
THE CAMERON TRAVEL SCHOLARSHIP TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JANUARY 2026
The trustees present their annual report and financial statements for the year ended 31 January 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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).
Objectives and activities
The aims of the Trust are to provide funding for agricultural students domiciled in Scotland and training in Scotland for a career in agriculture for the purpose of broadening their education and understanding of agriculture in other countries; and to provide funding to assist pupils from Dollar Academy, Dollar, Clackmannanshire to travel abroad for the purpose of broadening their education and understanding of the world.
The Trust aims to meet the above objectives by inviting applicants to apply to the Trust through exposure in the media, business contacts and advertising. In Dollar Academy regular announcements are made to encourage pupils to apply.
Trustees give their time voluntarily to help meet the objectives of the Trust. They receive no remuneration or expenses, and since the Trust employs no staff, the Trust relies entirely on the Trustees to function.
Grant making Policy
The Trustees make grants to Dollar Academy pupils and to Agricultural students where they believe that their contribution will make a real difference. Applications for grants are made either in writing to the board or by presentation.
Applicants can be championed by a board member in their application. Each grant application is reviewed by all Trustees and is approved or rejected at the meetings. The Trustees deal with all applications from start to finish.
The application guidelines are available to interested parties on the Trust’s website: www.camerontraveltrust.org.uk.
Achievements and performance
In the year to 31 January 2026, grant awards were made to 20 students.
Financial review
The results for the year are set out on page 6 of the Accounts. The Trustees consider the state of affairs of the charity to be satisfactory.
Reserves Policy
The unrestricted fund value at 31st January 2026 amounted to £372,372 (2025 - £347,537) which will be used in future years to pay grant to students.
Investment Policy and performance
Capital amounts held by the Trust are held on deposit with local banks, Trustees research local savings rates and offers to maximise interest income for the Trust. In addition, funds have been invested in a broad range of UK equities for long term capital growth, and in this connection, Trustees’ take advice from a firm of stockbrokers.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
Risk Management
The Board actively reviews the major risks which the charity faces on a regular basis and believes that maintaining reserves at current levels, combined with regular reviews of controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Board has also examined other operational and business risks faced by the charity and confirms that it has established systems to mitigate the significant risks.
Plans for the Future
The Trust aims to continue to meet the objectives set out in the Trust deed as explained in the “objectives” section above. To enable the Trust to do so, Trustees will use their contacts with the Scottish Agricultural College and Young Farmers Associations to encourage applications from the farming sector. In addition the merits of the Trust are discussed at Dollar Academy assembly and in the school newsletter and Trustees are discussing how best to encourage more quality applications from the school with the Rector.
Trustees look forward to receiving grant applications.
Structure, governance and management
The Cameron Travel Scholarship Trust is a charitable Trust, number SCO37699, which was established and governed by its Trust deed. It was granted charitable status by OSCR on 4th January 2007.
The charity is organised so that the Trustees meet regularly to manage its affairs. During the year the Trustees met twice. Claire Sloan was appointed as Trustee during the year.
As a charitable Trust, The Cameron Travel Scholarship Trust is administered by a Board of nine unpaid Trustees. The induction and training of Trustees is carried out during their term of service.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
The trustees who served during the year and up to the date of signature of the financial statements were:
John B Cameron CBE Chairman Margaret Cameron MBE John Bell Finlay Clark Jim McLaren MBE John Robertson David Walker Ian Munro Secretary/Treasurer Claire Sloan (Appointed 04/06/2025)
Principal Office
C/O Thomson Cooper 3 Castle Court Carnegie Campus Dunfermline Fife KY11 8PB
Independent Examiner
Fiona Haro CA Thomson Cooper Accountants 3 Castle Court Dunfermline Fife KY11 8PB
Bankers
Royal Bank of Scotland plc Bank of Scotland Broxden House 18 Crossgate Lamberkine Drive Cupar Perth Fife PH1 1RA KY15 5HL
Charity Registration Number
SC037699
Investment Managers
Redmayne Bentley 19 Marshall Place Perth PH2 8AG
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
Key management personnel remuneration
The Trustees consider the board of Trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 6 to the accounts.
Trustees are required to disclose all relevant interests and register them with the chairman and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland 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 year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees' report was approved by the Board of Trustees.
J Cameron
Trustee Dated: 16 March 2026
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CAMERON TRAVEL SCHOLARSHIP TRUST
I report on the financial statements of the charity for the year ended 31 January 2026, which are set out on pages 6 to 17.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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(ii) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Fiona Haro CA Independent Examiner 3 Castle Court Carnegie Campus Dunfermline Fife KY11 8PB
Dated: 16 March 2026
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2026
Current financial year
| Unrestricted Endowment funds funds 2026 2026 Notes £ £ Income from: Investments 2 65,557 - Expenditure on: Raising funds 3 12,051 - Charitable activities 4 28,671 - Total resources expended 40,722 - Net gains/(losses) on investments 9 - 141,971 Net movement in funds 24,835 141,971 Fund balances at 1 February 2025 347,537 2,203,455 Fund balances at 31 January 2026 372,372 2,345,426 |
Total 2026 £ 65,557 12,051 28,671 40,722 141,971 166,806 2,550,992 2,717,798 |
Total 2025 £ 67,530 |
|---|---|---|
| 11,926 | ||
| 17,525 | ||
| 29,451 | ||
| 48,922 | ||
| 87,001 2,463,991 |
||
| 2,550,992 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2026
Prior financial year
| Unrestricted Endowment funds funds 2025 2025 Notes £ £ Income from: Investments 2 67,530 - Expenditure on: Raising funds 3 11,926 - Charitable activities 4 17,525 - Total resources expended 29,451 - Net gains/(losses) on investments 9 - 48,922 Net movement in funds 38,079 48,922 Fund balances at 1 February 2024 309,458 2,154,533 Fund balances at 31 January 2025 347,537 2,203,455 |
Total 2025 £ 67,530 |
|---|---|
| 11,926 | |
| 17,525 | |
| 29,451 | |
| 48,922 | |
| 87,001 2,463,991 |
|
| 2,550,992 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
BALANCE SHEET
AS AT 31 JANUARY 2026
| Notes Fixed assets Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Provisions for liabilities Net assets Income funds Endowment funds 12 Unrestricted funds 13 |
2026 £ £ 1,622,784 901 1,110,263 1,111,164 (9,900) 1,101,264 2,724,048 (6,250) 2,717,798 2,345,426 372,372 2,717,798 |
2025 £ £ 1,401,174 1,025 1,158,923 1,159,948 (4,880) 1,155,068 2,556,242 (5,250) 2,550,992 2,203,455 347,537 2,550,992 |
|---|---|---|
The financial statements were approved by the Trustees on 16 March 2026
J Cameron Trustee
D Walker Trustee
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
1 Accounting policies
Charity information
The Cameron Travel Scholarship Trust is a Charitable Trust.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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 charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the Trustees’ annual report for more information).
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Endowment funds relate to the capital of the charity, and are represented by amounts held in a high interest deposit account and equity investments.
1.4 Income
All income is recognised once the charity has entitlement to income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The following specific policies are applied to particular categories of income:
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Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
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Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Grants expenditure is recognised once the grant has been given the approval of the Trustees and there is a likelihood that the grant will be taken up by the recipient. The corresponding provision is created and is reversed when paid.
Support costs have been allocated between governance costs and other support costs. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the costs linked to the strategic management of the charity.
1.6 Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Trust does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with 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.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
1 Accounting policies
(Continued)
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 the 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Provisions
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
2 Investments
| Dividend income Bank Interest (Received gross) |
2026 £ 53,749 11,808 65,557 |
2025 £ 51,948 15,582 |
|---|---|---|
| 67,530 |
3 Raising funds
| Investment management costs | 2026 £ 12,051 12,051 |
2025 £ 11,926 |
|---|---|---|
| 11,926 |
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
4 Expenditure on charitable activities
| Direct costs Grants Share of support and governance costs (see note 5) Support Governance Analysis by fund Unrestricted funds |
2026 £ 23,000 3,751 1,920 28,671 28,671 |
2025 £ 14,450 1,095 1,980 |
|---|---|---|
| 17,525 | ||
| 17,525 |
The charity undertakes its charitable activities through grant making and awarded grants to a number of individuals in furtherance of its charitable activities. Grants were paid to 20 (2025: 9) individuals during the year.
5 Support costs
| Support costs Governance costs £ £ Insurance 751 - Presentation Expenses 3,000 - Independent Examination Fees - 1,920 3,751 1,920 |
2026 Basis of allocation £ 751 Direct 3,000 1,920 Governance 5,671 |
|---|---|
For the year ended 31 January 2025
| Support costs Governance costs Insurance 615 - Website costs 480 - Independent Examination Fees - 1,980 1,095 1,980 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements |
2025 Basis of allocation 615 Direct 480 Direct 1,980 Governance 3,075 2026 2025 £ £ - - |
|---|---|
6 Net movement in funds
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
7 Trustees
The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2025: £nil). There have been no other related party transactions in the year.
8 Employees
The average monthly number of employees during the year was:
| 2026 | 2025 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
9 Gains and losses on investments
| Gains/(losses) arising on: Revaluation of investments Sale of investments |
2026 £ 125,013 16,958 141,971 |
2025 £ 20,697 28,225 |
|---|---|---|
| 48,922 |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
11 Fixed asset investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 February 2025 | 1,401,174 |
| Additions | 128,134 |
| Valuation changes | 125,012 |
| At 31 January 2026 | 1,654,320 |
| Impairment | |
| At 1 February 2025 | - |
| Disposals | 31,536 |
| At 31 January 2026 | 31,536 |
| Carrying amount | |
| At 31 January 2026 | 1,622,784 |
| At 31 January 2025 | 1,401,174 |
Investments at fair value all comprise of equities listed in the UK.
All investments are carried at their fair value. Investment in equities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
The significance of financial instruments to the ongoing financial sustainability of the Trust is considered in the financial review and investment policy and performance sections of the Trustees’ Annual Report.
The main risk to the Trust from financial instruments lies in the combination of uncertain investment markets and volatility in yield. The yield on bonds has been abnormally low giving rise to a significant downside risk of a fall in capital values when interest rates return to normal levels.
Liquidity risk is anticipated to be low as all assets are traded in markets with good liquidity and high trading volumes. The Trust has no investment holdings in markets subject to exchange controls or trading restrictions.
The Trust manages these investment risks by retaining expert advisors and operating an investment policy that provides for a degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The Trust does not make use of derivatives and similar complex financial instruments.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
| 12 Debtors Amounts falling due within one year: Bank Interest Receivable 13 Creditors: amounts falling due within one year Accruals and deferred income Provisions for liabilities Grant Committments Movements on provisions: At 1 February 2025 Additional provisions in the year At 31 January 2026 |
2026 £ 901 2026 £ 9,900 2026 £ 6,250 |
2025 £ 1,025 |
|---|---|---|
| 2025 £ 4,880 |
||
| 2025 £ 5,250 |
||
| £ 5,250 1,000 |
||
| 6,250 |
Provisions consist of grants approved by the Trust pre 31st January 2026, not yet paid to the recipients. The grants will be paid to the students once they have met the conditions of the grant approval.
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
15 Endowment funds
The endowment fund is the capital of the charity, and is represented by amounts held in bank deposit accounts and equities. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income.
| Balance at 1 February 2025 £ Endowment fund 2,203,455 For the year ended 31 January 2025 Balance at 1 February 2024 £ Endowment fund 2,154,533 |
Incoming resources £ - Incoming resources £ - |
Movement in funds Resources expended Transfers £ £ - - Movement in funds Resources expended Transfers £ £ - - |
Gains and losses £ 141,971 Gains and losses £ 48,922 |
Balance at 31 January 2026 £ 2,345,426 |
|---|---|---|---|---|
| Balance at 31 January 2025 £ 2,203,455 |
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 February | Incoming | Resources | At 31 January | |
|---|---|---|---|---|
| 2025 | resources | expended | 2026 | |
| £ | £ | £ | £ | |
| General funds | 347,537 | 65,557 | (40,722) | 372,372 |
| Previous year: | At 1 February | Incoming | Resources | At 31 January |
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 309,458 | 67,530 | (29,451) | 347,537 |
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THE CAMERON TRAVEL SCHOLARSHIP TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
| 17 Analysis of net assets between funds Unrestricted funds Endowment funds 2026 2026 £ £ Fund balances at 31 January 2026 are represented by: Investments - 1,622,784 Current assets/(liabilities) 378,622 722,642 Provisions (6,250) - 372,372 2,345,426 |
Total Unrestricted funds Endowment funds 2026 2025 2025 £ £ £ 1,622,784 - 1,401,174 1,101,264 352,787 802,281 (6,250) (5,250) - 2,717,798 347,537 2,203,455 |
Total 2025 £ 1,401,174 1,155,068 (5,250) 2,550,992 |
|---|---|---|
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