THE BOY accused of fatally stabbing Olly Stephens has revealed his account of what happened the day the 13-year-old died.

Giving evidence for the first time at the high-profile trial, the 14-year-old, who denies the charge and who was 13 when Olly was stabbed on January 3 at Bugs Bottom, told the court he ‘panicked’ in the moments before the incident.

He had brought a vegetable knife with him from a bush opposite his house upon the request of an older boy, who is also accused of Olly Stephens’ murder.

Asked why he had brought a knife with him by defence counsel Timothy Raggett QC, he said: “Because the elder defendant asked me and I agreed', the boy replies.

'He didn't give me a reason, I assumed it was because we were meeting Olly.'

The boy first spotted Olly at the top of a hill at Bugs Bottom and walked up the mound towards him.

According to the boy, he had issues with Olly because he ‘had been talking about me saying things I hadn't done'.

READ MORE: Updates as they came in from Olly Stephens murder trial

He claimed he expected a ‘fight’ with Olly and that he and the co-defendant were ‘going to make him say sorry and be done with it.’

Having walked up the hill, he came within two metres of Olly and asked why he had been saying things on social media and told him to 'say sorry'.

Olly responded: 'Ah f*** off, are you mad?' in the boy's face.

Olly then swung at the elder defendant, the boy said, who then punched Olly back.

They both hit each other a couple of times, the jury heard, and Olly ‘seemed to be winning.’

The defendant said: ‘'I saw the punches he was throwing and they affected [the elder defendant] more than his punches affected him [Olly].

'They were shouting at each other back and forth.

'I was stressed -- it put me on edge.

'It panicked me because I wasn't expecting that. I thought it would be sorted out straight away.

'I thought about turning away and leaving but [the elder defendant] was there and I couldn't leave him behind.

'I stayed with him.

READ MORE: Stabbing of Olly Stephens 'wasn't supposed to be a murder', court hears

'I remember I kicked out to try to swipe Olly's legs but ended up kicking [the elder defendant].

'I remember Olly upper-cut [the elder defendant] in his face.

'[the elder defendant] swung back and hit the side of Olly's face.

'It looked like that one hurt him [Olly].

'I remember Olly reaching downwards towards his waistband.

'[I thought] he was pulling out a knife. I've seen him with a knife a lot of times before.

'I jumped out and stabbed him in what I thought was the arm.'

The boy said he took his knife out from his sleeve with his left hand and thought he'd stabbed him in his 'upper arm area.'

He said he did not know Olly was wounded in his upper chest and suggested he did not mean to hit him in the chest.

The defendant claims that after Olly had been stabbed, he punched the elder defendant again.

He adds that the elder defendant pushed Olly who fell back on to him, and he was still holding the knife.

READ MORE: Why we can't name the teenagers accused of Olly Stephens' murder

'I remember pushing him off me', he added.

'I remember him getting back up and fighting [the elder defendant].

'I put the knife back in my waistband.'

He claims he did not see any blood at any point in the immediate aftermath of the stabbing.

'I didn't know he [Olly] was injured.'

The boy said the ‘fight’ lasted 30 or 40 seconds and both defendants fled the scene on the youngest’s scooter.

He claimed he did not realise Olly was injured and that he did not mean to harm him.

Asked what he meant to do with the knife, he said he meant to 'scare him [Olly].'

Later, he would add: ‘'I meant to scare Olly and to stab him where it would not do much damage.'

READ MORE: What happened in week one of Olly Stephens trial

Following the altercation and the defendants’ parting of ways, the boy searched ‘Reading stabbing’ online.

Asked why he did this, he said: 'I was trying to find out what happened.

'I found out he died.’

Asked by Mr Raggett if he meant to seriously harm or kill Olly, the boy says he did not.

Asked by Mr Raggett if he knew how Olly received a second stab wound, the boy says he did not.

The boy claimed he only learnt about the second stab wound when he was told about it at the police station following his arrest on the morning of January 4.

The trial continues.