CHARITY NO.. SC047190 THE MISSES NISBET EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE MISSES NISBET EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 PAGE Reference and Administrative information Report of the Trustees Independent Auditorfs Report Statement of Financial Activities Balance Sheet 10 Cash Flow Statement 11 Notes to the Financial Statements 12-18
THE MISSES NISBET EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Reglstered Offlce Charlty Number SC047190 Independent Audltors Wbg (Audlt) Llmlted 168 Bath Street Glasgow G2 4TP Bankers Bank of Scotland Professionals, Account Offlce 125 London Wal London EC2Y SAS Solicltors L¢)w Beaton Rlchmond LLP Sterfing House 20 Renfield Street Glasgow G2 SAP Investment Advlser8 Rathbones Investment Management George House 50 George Square Glasgow G2 1EH
THE MISSES NISBET EDUCATIONAL TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements of the charity for the year ended 31 March 2025, The financial statements have been prepared in accordance with the accounting pollcies set out in note 1 to the accounts and comply with the charity's trust deed, 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 ryth the Financial Reporting standard appliCate in the UK and Republic of Ireland effective 1 January 2019. The legal and administrative Infomatlon on page one fonns part of this report. Trustees The Trustees who served during the year and since the year-end unless Otherrfrfise stated, were as follows". structure. Governance and Management Governing Document The Misses Nisbet Educational Trust was established by Deed of Trust for charitable purposes on 18 November 2016 and is administered in accordance with the terms of the Trust Deed. Recruitment and Appointment of Trustees The initial Trustees were appointed in accordance with the tems of the Trust Deed. New Trustees are elected at General Meetlng based on recommendations by existing Trustees and in accordance with the tems of the Trust Deed. Trustee Induction and Tralning New Trustees are selected with a background suitable to an understanding of the Trust's objectives and Trustee responsibilities and in accordance with the tems of the Trust Deed. Risk Management The Trustees have assessed the major risks to which the Tlust is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major rlsks. Organisational Structure The affairs of the Trust are managed by the Trustees with all duties being degated amongst the Trustees. Day to day secretarial services are provided by Low Beaton Richmond.
THE MISSES NISBET EDUCATIONAL TRUST Report of the Trustees for the year ended 31 March 2025 Related Parties is both a Trustee of the chadty and a member of Low Beaton Rlchmond o provi e secretarial servlces for the trust. Fees totalled £44,280 in the year under review (2024: £40,680) Oblectlves and Actlvltlos The trust purpose is the advancement of edurAtlon, and that for the benefit of sIdentS fomer sidentS, of the Isle of Tiree, and in particular those who have attended school of have a substantial, personal or famlly connection with Tiree. The purpose of the trust may be furthered in particular by the provision of grants and Interest-free loans and the payment of fees to enable or assist reclpients in the pursult of higher or fvrther education. Achlevements and Porformance Durlng the year to 31 March 2025 a total of £115,868 (2024: £111,369) was paid to individuals and £Nil (2024: £Nil} was paid to institutions. The Trust made 35 grants (2024.. 39 grants) of belween £200 - £10,000 to individuals. Flnanclal Review The Trust's income for the year amounted to £113,419 (2024: £121,924). The Trust had a deficit in the year of £33,779 {2024: £205,528 surplus) and has accumulated funds at 31 March 2025 of £4,720,081 (2024: £4,753,860). Principal Funding Sources The principal funding source of the Trusl is investment income generated by equty and fixed income investrnents held by the Trust. Investment Policy The Trust uses the 3eNices of Rathbones Investment Management as its investment advisors. The Trustees have Ihe power to invest in such assets as they see frt. They make decisions after reviewFng the recommendations provided by the Investment advisors. The Trust is satisfied with the return on investments. Reserves Policy It is the policy of the Trust to maintain unrestricted funds at a level to provide suffiaent Income to cover the charltable grants made In the year and the ongoing runnlng costs of the charlty.
THE MISSES NISBET EDUCATIONAL TRUST Report of the Trustees for the year ended 31 March 2026 Plans lor Future Years The Trustees intend to continue to generate funds through thelr investment policy In order to support the obiectNes and activities of the trust. Trustees, responslblllties In relation to the flnanclal ststements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to tharities in Scotland requires the charity trustees to prepare financial statements for each year whith give a true and fair view of the state of affairs of the tharity and of the Incoming resources and application of resources, of the charty for that year. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently", observe the methods and princlpl89 in the appllcable Charities SORP; make judgements and estimate8 that are reasonable and prudent; state whether applicable accountlng standards have been followed; prepare the financial statements on the going conrn basis unless It Is Inappropriate to presume that the charity will continue in business. The trLVJtees are responsible for keeping adequate accounting records that dlsdose with reasonable accuracy at any time the financlal position of the charity and to enable them to en8ure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charty Accounts (Scotland) Regulations 2006, and the provisions of Ihe charity's Conslitution. They are also responsible for safeguarding the assets of the tharity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responslble for the maintenance and integrity of the charity and financial information included on the charity's website. Legislalion in the United Kingdorn govemlng the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement of Dl8closure to the Audltor So far as the trustees are aware, there is no relevant audit infomation of which the charlty's Auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken a3 trustees, in order to make themselves aware of all the relevant audit Information and to establlsh that the charity's auditors are awar8 of that information. Approved by t13 Trustees and slgned on their behalf by. Date. 27111120
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MISSES NISBET EDUCATIONAL TRUST Oplnion We have audited the financial statements of The Misses Nisbet Educational Trust (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, Including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the finanGial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2025, and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordan with Untted Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. Basls for oplnlon We conducted our audit in aOrdanCe with Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further desrAibed in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity In accordance with the ethical requlrements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We b61ieve that the audit evidence we have obtained 18 sufficient and appropriate to provÉde a basis for our opinion. Conclusions relatlng to going concèrn In auditing the financial statements, we have Goncluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast slgnificant doubt on the charity's ablllty to continue as a going Goncem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to golng concem are described in the relevant sections of this report. Other Infomiation The other information comprises the Infonnation included in the report and financial statements, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infomiation and, except to the extent Otherls8 explicitly stated in our report, we do not express any form of assurance conduslon thereon.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MISSES NISBET EDUCATIONAL TRUST In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. If, based on the work we have performed, we condude that there is a material misstatement of this other infomiation, we are required to report this fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters where the Charity Accounts (Scotland) Regulations 2006 requires us to report to you rf, in our opinion: the infomation given in the financial statements is inconsistent in any material respect wtth the Trustees, report; or proper accounting records have not been kept," or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responslbilities of trustses As explained more fully in the Trustees, Responsibilities Statement set OLrt on page 4 and the trustees are responsible for the preparation of financial statements and for being satisfied that they give a Irue and fair view, and for such intemal control as the trustees detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going Conrn basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's re$ponslbllitles for the audlt of the flnanclal statements We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinlon. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordan¢e with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are onsidered material rf, individually or in the aggregate, they could reasonably be expected to Influen the economlc decisions of users taken on the basis of these financial statements.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MISSES NISBET EDUCATIONAL TRUST Irregularities, including fraud, are Instances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: Extent to whlch the audlt was consldered capable of detectlng Irregularltles includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtalning audlt evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the following; The nature of the tharity, the environment in which it operates and the control procedures implemented by the trustees; and Our enquiries of trustees about their identification and assessment of the risks of irregularities. Based on our understanding of the charity and the sector tt operates in we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to. Regulations and legislation pertinent to the charlS operations We considered the extent to whiGh non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulatffions 2006. We evaluated management and trustees, incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks were related to., Posting inappropriate joumal entries. Audlt response to the rfsks Identified: Our procedures to respond to the risks identified included the following" Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with provisions of ielevant laws and gUlationS described as having a direct effect on the financial statements; Enquiring of management, trustees and legal advisors concerning actual and potential litigation and daims; Reading minutes of meetings of those charged wlth govemance; In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments; evaluating rationale of any significant transactions that are unusual or outside Ihe normal Course of business.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MISSES NISBET EDUACTIONAL TRUST We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indicatlons of fraud or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a rlsk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions refiected in the financial statements, as we will be less likely to become awar6 of instances of non-comptiance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A furth8r description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web8rte 8t W4.frC.org.UkIaudlt0rsreSponSlbI1lties. This description forms part of our auditorfs report. U30 of our report This report is made solely to the charity's trustees, as a body, in accordance wfth section 4411)(c> of the Charities and Trustee Investment (Scotland) Act 2005 and gulatIOn 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Our audit work has been undertaken so that we might state to the charity'6 trustees those matters we are required to state to them in an auditor's report and for no other purpose. To thé fullest extent permltted by law, we do not accept or a88ume responsibillty to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions w8 have formed. Alexander Hogg CA Senior Statutory Auditor For and on behalf of Wbg (Audit) Limited 168 Bath Street Glasgow G2 4TP Date: 2711112025
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THE MISSES NISBET EDUCATIONAL TRUST BALANCE SHEET AS AT 31 MARCH 2025 202S 2024 Note Flxed assets: Investments Total Flxèd Assets 11 4,710,743 4 710743 4,695,179 4 695 179 Current assets." Cash at bank and in hand Total Current Assets 16 113545 113,545 67,755 Llabllitles: Creditors due in less than one year 12 (58,417) (54,864) Net Current assets 9,338 58,681 Net assets 4 720,081 4 753 860 rhe funds of the charity.. Unrestricted fiJnds 13 4.720,081 4,753,860 Totsl charlty funds 13 4 720 081 4 753, 860 Approved by the Trustees and signed on their behalf. Date: 2511112025 io
THE MISSES NISBET EDUCATIONAL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDING 31 MARCH 2025 2025 2024 Cash flows from operating activltles: Net Gash (used in) operating actlvltles 15 (198,909) (173,570) Cash flows fmm investing activldes: Dividends and interest Investment equalisation PrOedS from sale of investments Purchase of investments Net cash provided by investing activities 113,419 121,924 1,180 370,948 415 144 78,908 592,548 497,879 208,088 Change In cash and cash equivalents In the year 9,179 (94,662) Cash and cash equivalents brought forward Cash and cash equlvalents carried forward 16 16 150 328 159,507 244 990 150 328 11
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accounting Pollcles (a) Basls of preparatlon and assessment of golng concern The accounts (financial statements) have been prepared under the historical cost conventlon with items recognised at cost or transaction value unless otherwise ststed in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) {effective 1 January 2019), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The financial statements are prepared in Sterling, which is the financlal currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The trust constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concem. (b) Funds structure Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created funds for specific purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed, or through the temis of an appeal. Further details on the charity's funds can be found at Note 13. (c) Income recognition Income is recognised once the charlty has entitlement to the incorne, it is probable that the income will be received and the amount of income receivable can be measured reliably. 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. 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. (d) Expendlture recognltion Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditu, 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 Gosts and governan costs are allocated or apportioned to the applicable expenditure headings. For more infomiation on thi$ attribution refer to note (e) below. 12
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 l. A¢¢ounting Policies (Continued) Investment management costs include the management fees paid for the maintenance of the investment portfolio. Expenditure on charitable activities Includes grants payments to third parties. governance costs and other actiVFties undertaken to further the purposes of the charity and their associated support costs. Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance condltions are only accrued when the recipient has been notified of the grant and any remaining Unfu111ed Gondition attaching to that grant is outside of the control of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable. (e) Allocatlon of support and governance costs Support costs have been allocated between governan costs and other support costs. Govemance costs comprise all costs involving the public accountabllity of the charity and its Complian with regulation and good practice. These costs include costs related to audit and legal fees together with an apportionment of overhead and support costs. The allocation of support and g0Veman costs is analysed in note 6. (fj Flxed asset Investments Investments are a fomi of basic financial instrument and are initially recognised at their transaGtion value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market pri. The statement of financial activitles Indudes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complax 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. (g) Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (h) Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Credttors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 13
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accountlng Pollcles (contlnued) (i) Reallsed galns 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 dtfference between sales proceeds and their opening carying value or thelr purchase value rf 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. 2. Judgements and key sources of ostlmatlon uncertalnty In the application of the company's accounting poliGies, the Trustees are required to make judgements, estimates and assumptions about the carryirvJ amount of asset5 and liabilities that are not readily apparent frorn other sources. The estimates and associated assumptions are based on historical experieno and other factors that are consid&red to be relevant. Actual results may drffer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revlses to accounting estimates are recognised in the perlod in which the estimate is vised. If the revision affects only that period, or in that perlod of revision and future poriods rf the revision affects both current and future periods, Allocatlon of èxpendlture between actlviti8S Support costs are allocated between charitable activities and govemance based on the secretarial time spent undertaking the charity's activtties. 3. Legal status of the Tru8t The Trust is a registered Scottish charity. 4. Related party transactlons and trustees, expenses and remuneratlon No Trustee received any rernuneration during the year (2024: £nil). One Trustees claimed expenses totalling £288 (2024: £176). No expenses were walved by Trustees. There were no donations made to the Trust by any of the Trustees (2024: £nll). Transactions with Low Beaton Richmond LLP: 2025 2024 Secretarial fees 40,680 s both a Trustee of the charity and a member of Low Beaton Richmond LLP. Other than disclosed above, no Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2024.. £nil). 14
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 S. Investment Income 2025 Total 2024 Total Bank interest Dividends received 13,435 13,127 108 797 121924 113,419 6. Allocatlon of governance and support costs The breakdown of support costs and how these were allocated between govemance and other support costs is shown in the table below: Totsl allocated 2025 Governance related Other support costs Cost type Basls of apportlonment Secretarial fees 44,280 2,214 42.066 Time spent Total 44,280 2,214 Total allocated 2024 Govemance related Other support costs Cost type Basls of apportlonment Secretarial fees 40,680 2,034 38,646 Time spent Total 40,680 38,646 Governance costs: 2025 2024 Auditors remuneration Support Costs Trustees expenses 8,256 2,214 268 10,738 7,242 2,034 176 9,452 Allocatlon of governance and other support costs: Grant Making Support Governance 2025 42,066 10,738 52,804 Total allocatsd 52,804 15
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 6. Allocatlon of governance and support costs (contlnued) Allocation of governance and other support costs: Grant Making Support Governance 2024 38,646 9,452 48,098 Total allocated 38,646 48.098 7. Analysls of expenditure on charitable actlvltles Direct Costs Support Costs 2025 Total Grant Making 115,868 115,868 52,804 52,804 168,672 168.672 Direct Costs Support Costs 2024 Totsl Grant Making 111,369 111,369 48,098 48,098 159,467 159.467 8. Raising funds - Investment management costs Dlrect Costs Support Costs Total 2025 Total 2024 Portfolio Management Fees 33,790 9. Analysis of grants Grants to Grants to Instltutlons Indlvlduals Support Costs 2025 Total Charitable Grants 115,868 52 804 168 672 Grants to Grants to Institutlons Individuals Support Costs 2024 Total Charftable Grants 111,369 48,098 159,467 16
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 l O. Net incomel{expendlture) for the year This is stated after charging.. 2025 2024 Audit fees 8,256 11. Flxed Asset Investments Movement In fixed asset listed Investments 2025 2024 Market value as at 1 April 2024 Additions to investments at cost Disposals of investments Revaluation in the year Market value as at 31 March 2025 4,658,396 4,340,250 497,879 415,144 (574,779) {379,434) 282,436 4,658,396 4,618,991 Investments at falr value Comprised: 2025 2024 Cash held within the investrnent portfolio Equities 91,752 4 618,991 4 710 743 36,783 4 658,398 4 695 179 12. Credltors: amounts falling due wlthln one year 2025 2024 Accruals 54,864 13. Analysls of charltsble funds Analysls of Fund movements 2026 Balance blfwd Galnsl {Losse8) Fund clfwd Income Expendlture Unrestrlcted funds General funds Total unrestrl¢ted funds Total restrlcted funds TOTAL FUNDS 4 753,860 113 419 4,753,860 113 419 202 462 202,462 55 264 4 720 081 55 264 4,720 081 4,753 860 113,419 202 462 55,264 4 720,081 Analysls of Fund movements 2024 Balance blfwd Galnsl ILosses) Fund clfwd Income Expendlture Unrestrlcted funds General funds 4 548 332 Total unrestrlcted funds 4 548 332 Total restrlcted funds TOTAL FUNDS 121924 121924 191526 191526 275 130 4 753 860 275 130 4 753,860 4,548 332 121924 17 191526 275 130 4,753 860
THE MISSES NISBET EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 14. Net assets over funds Unrestricted Funds Restrfcted Funds Total 2025 Investments 4,710,743 4,710,743 Cash at bank and in hand 67,755 67,755 Creditors falling due within one year (58,417) (58,417) 4 720 081 4,720 081 Unrestricted Funds Restrlcted Funds Total 2024 Investments 4,695,179 4,695,179 Cash at bank and in hand 113,545 113,545 Creditors falling due within one year (54,864) (54,864) 4,753,860 4 753 860 15. Reconclllation of net (expandlture)Ilncome to net cash flow from operatlng actlvitles 2025 2024 Net (expenditure)l income before gains and losses for the year (per the Statement of Financial Activities) Dividends and interest Increase in creditors Net cash (used in) operating activities (89,043) (69,602) (113,419) 3.553 198 909 (121,924> 173,570 16. Analy31s of cash and cash equlvalents 2025 2024 Cash in hand Cash included in investment portfolio Total cash and cash equivalents 67,755 113,545 159 507 150,328 18