Set aside a £50 note with the edges trimmed off (5)
I believe the answer is:
allot
'set aside' is the definition.
(I've seen this in another clue)
I don't understand the remainder of the clue.
Can you help me to learn more?
(Other definitions for allot that I've seen before include "Give, apportion" , "Earmark" , "Designate; sounds like much" , "Allocate" , "split up" .)