Chrlty Reglstrallon No. 1087743 COLIN OLIPHANT CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS for the year ended 5 April 2023
COLIN OLIPHANT CHARITABLE TRUST CONTENTS Pag• Trustees, r•port Indendent examin8f s report Staloment of finan¢ial aciNities 8alanrE S&t Ngtes to the finana81 statwnents 10-16
COLIN OLIPHANT CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Thist••s MrsAnne Mer8dith Oliphant Mr Hami5h Morton Oliphanl Ms Jane Anne Oliphanl MrAnlhony Mid)ael 8aylfss Charlty numb•r 1087T43 Ind•p•ndent examlner Jean Ellis BA FCA CTA Casue Chambers 43 Castle Street LiverpJol L2 9TL A¢countsnts DSG Chartered Al%UntaNtS C8sde Chambgrs 43 Caslle Street Llverpool L2 9TL Inveslmenl advlsors Cazenove Fund Management Lwniled 2425 Chartottè Square Edlnburgh EH2 4ET
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED SAPRIL 2023 The trustees present Ihetr report and a¢counts forlhe year gndod 5April 2023. The a¢Unts h8ve beèn prepared in aecordance wRh the accounllng pdl¢ie$ set out in note 1 to the ao))unts and comply vAlh the Charltable Trust's Dggd, the charitS Aca 2011 8nd 'Acwunting and Reporting by Charthes.. Statement of Recunmended Practicè applicabl8 to charitie5 weparing their a¢counts in accordance with the Finandal Reportlng Stsndard appli¢8bte in the UK and Republic of Irdand IFRS 102)" (as amgndgd for accounting periods commencing from 1 January 2016). Obl•ctlv•8 and actlvlt1•6 Charftable obl•cts Th& objectivos of the Charttable Trust are lo apply the funds hekj lo promote charltabfe purposes in any part of the world. SpeLYficalty. the Charitsble Trust 8UPW)rts purposes that promote. improve. develop and maintaln research Into, and ¥ducation concernirrfj. the nature. c8us8s, diagno$ and treatment of brain turTr)ur$ and slmilar dwa$e8. Aims of charity The alms of the charity are to apply. at the dSs¢retion of Ihe trusts88, grants to orgarllBations Ih8t ¥¢ $p¥ofiealty involved in the field of brain lumour resear¢h or educa1ion. How achlgv•m•nt of alms furth•r¥ objoctiv 11 is the hopes of the Iruslees that grant application wlll lead to adVanS in the field ol brain lumour researd) and educatton. In lum. this shall allow for addOnal opportunttio$ lo appty grants lo further the obiecaives of the Charitabl TrusL Strat•gl•s forachieving •im$ and obJ•ctlv•s The CharitaNe Trust Is essentially investment based and intends lo uulse the Income ggngro18d from the investment F¥)rtlolio to furyj tho grants the Irustg9$ have dec?ded lo make. Crlterfa to ame88 success As the Trust deab in th8 area of re8earch and edu¢gtion. succass of tho organisation5 receiwng grants is u$u•lty assessed through repts produeed by $atd organi881ions: recefved on a quarterty. knwannual or annual ba8iS. For the purpws of th• Charitablo Trust, Su¥ shall be awssed through the opportunilles arslrrfJ from grant appllealion to fvrfher and maintain advancements in tho field of l)rain lumour reseArth and education., furthering the Trusfs own Object9& Ststsm•nt of compll4n¢• wlth Charfty CommlB8lon guidan¢• The Irustoès have paid due ragard to thè Charrty Comrniss)n's guidanee on public benefit in deciding the actIveS undertaken by the Charity during the year. The Irust86s satbsfied that the Infomiation provthd in the report and accounts meat th& publlc benefft rgporting requirements. lThtrodu¢tlon to actlv11501 The Trusl is solely invofved in grant making, and as such. the activrhes Tt undertakes pertaln to r¥l$lng end maintainlng funds for the applicab'on of grants.
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Grnnt Making Pollcy Grants made during thè year are retr)gnised when invold and Irealed as due in full as ofthat dal&.
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Achlevements and p•rfomian¢e charltablp Ach10¥ts During the year, the Charitable Trust supported polici88 lo furlhèr the spechlG charitsblg objects of PTOfflOting reseaTch and educalIc coneernlThJ brain tumours., a research trust head by th• Brain Tumour Charity and postgraduat8 res8arth conducted #t the UnlrS1ty of Wofverhèmpton. Th9 BTaln Tumour Charity is a registered tharity whosa ObJ*VaS aT8 lo promote and in Search into th• natLrn, eauses. diagnoses, treatment and soctal ¢onsequences of tumours of the brain and central nervous Sy81om. They atso aim lo promote the health of peoplg with thesg d$ease$. and to alfvance the edu¢ation of I publ¢ in confi0Th with th8s8 dis8as8s. At the Unwersity of Wolvorhamplon. tho most recent support gIrt by tha truste8S cAC•Med the cost of the PhD Sludentship Proiect-'Developmenl of new metabolic Iheraples for glioblastoma mullifomie {GBM)'. Thè Teséarch aims lo gain undèrslandlng of the therapg(rflo possibilities of targeting glucose Metab0$M. hoping to Klentfy the mokqcular mhanismS through whid) thè k8tOgenic diet exerts anti-cancer effed in GBM tumour cells. and determine which patlents wlll benefit from thi$. Parallel to this. the theory bn9 that 1denfylng and validating druggable melabolic gene largels Can provlde an atternative yet complementary approach to tr8atmenL éspaaally for resistant tumolbrs. The Tw8tees are currendy liaising wrth Professor Trw W8rr regarding 8¢0 8nd extént of support going forward. Invo¥lJn¢nt p•rfomwn¢• M051 of the Trusys cak¥tal is invested on thg stock maTket and throughout thg year. th8 total relum of the porttoliti fell within the tru$le8$' 8¢cèptabl8 variancè to the comp051te benchmark. C8zenove Caiwtal Management Llmiled ovlde the Iwslees with regular pafft)man¢e reports. with their view of the rInt finanryal wsitson being that the p110 has perfomed In Ilr)e wlth the TInt benchmark. As at the 5 April 2023, the portfolio was valwl at £8,347,837 {2022 £6,798,969) and genérated of £105.21212022 £110.988). equating to a yleld of 1.66%12022 1.83%}. Th• Iwst•8s hav• rewewed the portlolio regukgtfy an(J satisfied with the performance dUnll the year.
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Fknanclal r•vl•w Finan¢ial po8ilion The Chaiitable Tru¥l's overall fund balances for the yeaT total £6.569,806 compared w6th £6,B31,173 for 2022. After taking into c(&nsideralion total net irOrning resources, recognised gains and losses durng the year, commttments lo charAable donatiorts and govemance costs. there was an overall decrease In the net mvement in funds of1£261.32fj1, ¢ompored to a de¢rea$e 01 £407,770 for 2022. Th8 trust9es havo rgviewed tholr grant making ¢ap8bllty and will, goSryd forward, 8nsuro there h suffkient Income year on year lo enable thelr finandal commllments to be meL The trustses have del8gated the operation of Ihe investment porifolio to the investment managers who are re8ronsble for meeting the Charrvs investment objectives and who ère mea8ured again81 thèir benchmark. The trustees conshler their investrnents as •xpendable endowmenls, promding a relativety secure and prediGtsble stream of income from whlGh to make grants. The trustees aim to di$lribLrte a knge pentr9e of I in¢ome. net ol expense$, in ea¢h financial year and therefore do not maintsin incom8 res&rv&s as such. However, any unwlised g8ln8 8nd the IntMe levels on thg investments held are eJ)nlM)ually reviewed by the tru$lé8s al Ihelr moetings lo ensuw that they have sufficient funds to meet their objectives. Reservts pollcy It is the policy of th6 truslges lo ensure s(rfncient UnreStrled funds have been maintained to cover the grant maknng ociivity thjring the year. The trustees are happy that the level of cash required has been maintained throughout tho year. knve8lment pollcy The operation of the investment portfolio has been ddegaled to the investment managers with whom there is a discretionary managernent agreement The investment managers are required lo avoid gXP05ure to investmen15 whith are deemed lo b& unsurtabf8 in the context of the tnjstees. objectives. when considerin9 the portrolio as a whole. The investment manager is also to h4Vg regard to the nfjed for diversfficglion and the total amount inv8sled in a direct equity inv•strn8nt should broadly not exceed 5% of Ihè Trust's total invèstmènt portfolio at th8 tim8 of purchase. The portfollo struclure of the Investment Porifc410 is as fOllrtS.. FrsE Al Share Index FT All World Ex UK Fr GovemmentAI Stocks Cash 50% 20% 25% The investment rnanag8r will wovid8 annual reports which will indud8 a statemont confirming adhoronce to this policy statement or prowding details of exceplions together wth expLanations. The report 11 also include a oonwarison of the portfolio relum In Iglatksn to the b8ncknmark. Major deallOnS wlll be examln9d and gxplaln9d. Rl•k management The trustees have asw45ed th? major risks to which tho CharFt•ble Trust is oxp)$¢d, and are satisfied that systems are in place lo mltlqate exposure lo the major rlsks. The trustees recwnise the risk assoaated with investment in mainstream finanaal markets and accept this risk in retum for the prospect of additional returns ovef longer periods of tim8. They wish lo moderate the risk of dewation of relums relatN6 10 tho chosen tenchmark.
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Plans for th• future Tho tfUSte8s continue to rese&r¢h SUTiable prolecls to whi¢h they can make grants In thjrthernno of Ihelr tharitable objectives. Tho trustees agreed lo support addttlonal research at the Universty of w?erhampIon by Applyng grants to the pro1t known a3 'Unr8Yelling T ¢&ll AmmunoSupsSi0n in Glioblasloma MulbfOm (GBM) by wrgtomios.. collaborative pffjject wrth signlfficant Input frc*n the multidisciplinary team of s¢ientifi¢ and c4invl èxperts from three instrtutions. The trustees agroed tp 5VPPOrt this project which ran for three years, ending in April 2022. In Seplember 2017 the Iruslees agreed 8 gnI lo ¢over these costs. After some delay. the Univetsity apOnt8d Candidate to the PhD sludentship and SearCh 8tartod 1st Novgmb8T 2019. tt has been a lime of thange al the UnN8rsity of Wolvarhampton and the Trustees are curnntty liaising with Professor Tracy regarduig Scope and extent of $upp)rt 90ing forwaid. The TTuslee$ continue lo monitor The Brain T[oUr CharTty's mullpyear cgmpavdn vthith invofves alerting evèryone to the 8ign8 symptoms of a brain tumour, empowering people lo ¢onfldenUy * on Ihelr symptoms and speed up diagnosi8.
COLIN OLIPHANT CHARITABLE TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Strucle. govemnc• and managgm•r Govornlng do¢ument& ¢h•rlty Cong1on Thg Charitable Trust was establlshod by a chgrilable trust daed on 27 October 2CW by Mr8 Anne Meredrth Ollph8nt. Trust••s The truslèe$ who seNed durlng the year were: Mrs Anne Meredhh Ollphant Mr Hamish Morton Oliph8nt Ms Jane Anne Oliph8nt MrAnthony Mi¢hael Bayliss Recruitmont and appolnlmgnt of trust••s The power lo apwnt further tnjstèès is vèsted in the setllor thjring her lifetim•. Inductlon and tralning of truste•s In¢oming trustees are made aware of their respon$ibililie8 Ihe Trusf8 tsbpdives from the existing trust88S and their professional adwBors at the datg of apwlntmenL The tru8te66 also kept up to dato on relwnt mattws by their professional advisors. Orynisatlonal Structur• The Trust is a grant making ¢harfty wn by a body of trustee5 vtho meet annually lo rèview the poli(aes and objectiv8s of thg Tw$L How d•¢l¥ltsn¥ arn mad• The Injslees liaisè regularty amongst Ih8m$¥lvos. and th their prDfessi)nal admsors forrnalty once 8 ye8r, to review the policies and obiectwes of Ihe Twsl. The trustees act In accordance with Ihe decisions m8de al these meelings. Oparntlonal rostrl¢tlons There ar8 no spgrifie $ldiDn8 imposed on tho tNst88s by th8 gov8rning do¢umenl ¢on¢eming the way thg chanty can cporate. Spe¢lal Investment powers There ar& no sptt¢)fic restrictions on the trustges, Investment powers. Th& irutstees have deaded for the tlme being to impose restricticns of thr own, on th& fvnd rnarwg•rs, details of which are set oul In the Investment policy. The Trustees. Reportwas approved by tha Boanl ofTrust••s. Mrs Anne Mglgdlth Cjlphant Tru8te& Ant el Baylis$
COLIN OLIPHANT CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLIN OLIPHANT CHARITABLE TRUST I report on tho arKounls of the Charitable Trust for th8 yaar endgd 5 April 2023, which are $91 out on pages 8 to Regpectlve responslbllltl•8 of tr•$ and •xamln•r The Ch8rttable Twsl's trustees are responsible for tha proparnlon of the accounts. The charfty$ ITusts8s o)nsider Ih#l an audit is not required for this year under $o¢bon 14412) of the Charities Act 2011 (the 2011 Acti and that an IndeperKlent examinathon is needed. It is my [ponSlI to= examinè the aonts under sethon 145 ofthe 2011 A¢t.' (11> lo follow thè procathjres laid down in the genoral Directions giv8n by th8 Charity Commission under sectKJn 145{5llbl of the 2011 Act. and {S11 to st8te whelhor part)jIar mattery have come lo my attention. B•$l• of Ind•p8nd•nt•xamln•rfs r9POrt My examlnalion was (zrried out in ac¢ord8nce wrth the general Direcons given ty the Charity Comrnission. An ex8mina1ion indudes a rev¥ of the accountin9 re¢ords kepl by ihe charity and a (xjmparison of the accounts presented with those records. tt also indudes conslderatlon of any unusual items or dis¢losur8s in the acca)unls. 8nd seeking axplanatlons from you as Irustses concgrning any suth matters. The procedu$ undèrtaken do not prowde all tho ¥vklènea that WOU be required in an audit and consequenuy no opinion is given as to whether the accounts present a llrue and lair vw, and the report is limited to those matters sel out in the next statement. Indtptrndent tmIne3 ststsm•nt Your attenlK)n is drawn to the fad Iht the thailty h88 prpared aco)un18 in attordance wrth Acinjnting and r6FKJrbng by cha¢ preparing their accounts in 8(xordancè vAth Ihe FinancAal Reporting Stsndard applicabl8 in the UK and Republic of Irdand IFRS 102) in preference lo the Accounting and Reporting by Chath"es.' Statement of Recommended plal¢e issued on the 1 April 2005 whlch h ref¢Th to in the extant regulations bul has now been Mthdrawn. l understand that thFs ha8 been done in order for the a¢¢ounls to provldg a Iwe and fair wew in accA)rdan¢e with Generally Accepted Accounting Pra¢tic8 offed1 for rep)rting periods b8ginning on or after the 1 January 2015. In Ix)nneclJn with my examination, no other mattgr exGept that referred to in fv pwous paragraph ha5 corne lo my attention.. (al whKh giv& mo r*asonabl8 causè to befieve that in any matèrial resped the requirements.. to k99p ac¢ounling rerdS in accordance with saction 130 olthe 2011 Act., and (ill to prepare a¢¢ounts whlch actord wlth the accounlng r•¢ord$ and compty with the accounting requirements of the 2011 A¢t' have not b¢en mot or (b) to whl¢h, in my opinn. attention should b• drawn in order to enable a propar understanding of the aeCDunts to be reached. J¢an Ell18 BA FCA CTA Ex8miner Dated.. 2710312024
COLIN OLIPHANT CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED S APRIL 2023 UnrnJtrict•d Unv•strict•d funds funds g•n•ral ¢apltal Total 2023 Total 2022 Incom• and •ndowm•nts from: Donations and legaclgs Inveslments 0th8r hcoma 35.663 10S,212 8,916 36,042 110,986 9,010 105,212 8.916 Total incom• 149.791 149,791 156.038 R8i$ing funds 27,845 27,845 27,471 Charitable a(alVe5 1,698 6.120 7.818 152.250 Totsl Mour¢M •xpgnd•d 1.698 33,5 35.863 179.721 Nel gains on investments 11 (375.495) 1375,4951 431.453 Nvt m0ment in fvwl• 148,093 (409,460) 1261.36n 407,770 Fund balances at 8 Aprl 2022 1.408.658 5.424.515 6.831,173 6.423.403 Fund b*lanC at 5 April 2023 1,554,751 5,015,OS5 6,569,8C6 6,831,173 The stat8m8nl of financial activib8s i1UdaS ail gain5 and losses reDJgnised in the year. All Income and expond61ure dgrfve from contSnulng a0$.
COLIN OLIPHANT CHARITABLE TRUST BALANCE SHEET ASATSAPRIL 2023 2023 2022 Flxgd as$gts Investments Currant aM•t• Debto Cash at bank and In hand 12 6,347,837 6.798.989 13 14.274 210,713 11.350 150.284 224,987 161.834 Credltorn: amounts lalllng due within 14 13,018) 1129,4501 Net current asset8 221.969 32.184 Tolal a8s•ts le8s Gurwent liabiliti 6,569.808 6.831.173 Fund$ Unrestricted fiJnds- caprtal UnTestricted funds- gener81 5,015,055 1,554.751 5.424.515 1,406.658 6.569.806 6,831,173 The finantaal $18lemerts were approved by the Truste ne Meredith O Trustee iphant MrAnlh el Bayllss
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 5 APRIL 2023 Aeeountlng poll¢les Charity inforniatlon The Colln Otiphanl Charrtabh Trust ts a Charitable T1. Chaiity R8gislrat)n NuMr 1087743, ueated by Mrs Ann Meredith 01h3n1 by deed dalad thè 27th October 2000. 1.1 Accountlng Conventlon The o¢counls have been pwpared in accordanc8 wrfh the Chaiitable Trust's trust deed. the Charlllgs Aci 2011 and "Accounting and Reporting by Charities.. Statement of Recommènded Pradce applicab to chaiib¥$ preparing th8ir accounts in accordance with the Flnanclal Raporting Stsndard applcabje in the UK and Republic of Ireland IFRS 1021" las amended lor a¢counthng pwiods ¢ommenring from th6 1 January 2016>. The charl1a8 TNst 1$ a Public B8noff( Entity 88 defflned by FRS 102. The Charitat4a Trust has taken 8dvantage of the prol8lons In the SORP for tharitias apPIng FRS 102 Update Bulkn 1 rKJI lo prgpare a Slalemenl of Cash Flows. The ffinancial sts19menls havè dèparted from the Charityes {Aco)unls and Rerths} Regulations 2Crf)8 only to th8 8Xtanl r•quirnd lo provide a true and lair vbw. Thls ¢Jeparluro has Invdved following the Slatem&nl of Recommended Practhce for dIarrtS apptying FRS 102 rather than the version of th8 Statment of Reo)mmonded PraCtb which 1$ reffjrrgd to in the Rewlatlons tArt vA)IL has since been wtthdrawn. The financial slalements gre prepared in sterllng, whlch is the functional currfjb)¢y of the CharilabJ8 TrusL Monetary amounts in these ffinan0 5talemenls are rounded to the neorgsl £. The finanrjal slBtam9nts hav8 been wepared under the historieal Cost C))nvenlion, rnodlfied to includè the rgvaluation ol fixed as$&l inveslmerts at market value. The wlndplg accounting policies are set out below. 1.2 Golng ¢on¢orn Al the lime of approng the financial statements, the trustee8 h8ve 8 reasonablo exp8(aalion that the Charttable Trust has adequate r&sour¢es to ronlinue in operational existence for the for•se&able fLrtuTe. Thus the trustee8 continue lo adopt thè going conc•m b8$is of accounling in PTeparing Ihe financlal stslements. IJ Charftsble funds The Charitsble Trust ¢onslsts onty of unrestricted funds vhjlth are 8v8lJat4e for use al the dlsuetion of the twsteés in furthèrancè of their charitable objectiVg$ unless the funds have been de5ignal¢d foi othei PUTP0$9$. 1A Incomlng rnsourG•¥ In¢om8 Ss rècognised when th6 Charitable Trust Is legally enlTtEed lo it after any p8rfomi8n¢e condib(S have been meL the amounts ran measurg11 lIablY, and it is probable that income wll r8c8Oved. Cash donalfons a rec4)gnised on receipt. Othw donallon$ 8re recognised once the Chaiitable Trust has been n¢lified of the donation, unlgss perfomiance conditions require deferral of the amount. Incomè lax recoverable In relation lo donations rec8iv•d undgr Gift Abj or deeds of covenant is rocognised al the tiffle of the donation. Leg8eie$ 8re recoon18ed on reeeipl or Othe rf the Charitabk Twst has been notified of an imnding istribution, thè amount is known. and receipt is expected. If the amount Ss not known, the legacy is treated a$ a contingent asset. -10-
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng pollcl Icontlnu•d} 1.6 R•8ourt•$ exp•nded The Charitable Trust rocogrmses that the cost of gfjn8rating fiJn(ts cnsists of discrntionary nvestment manag•rfe•8. Costs of thgritable athfaeB indude grants made and govemance o)sts. The Charitable Trust allocates 9ovemon¢e costs on an accrua basls. All other sts are albcatsd In the finanoial year in vthich they are in¢urred. 1.6 Fixed tI Invetments Fixed asset investments are Inltlalty measured at transaction pri¢6 exdudlng tran$tion CAists. and are subsequentty measurad 01 fair value al each T8POrtlng dalg. Changes in fair valu& are r8cognisod in net lncomelleThdrtUrè) for the ar. Transadion costs are expensed as incurred. The Chwtsble Trusl receives quarterfy $tal$mants for the valuaticfi of its inv8stm8nts from the investment manag¥rs. 1.7 Ca•h and ¢h 9qUfvants Cash and cash aqulvalents Include cash in hand. deposits held al call wth banks. olher shcfft4¥mi liquid Investments with original matLYitS of thre8 months or less, and bank overdrafts. Bank overdrafts are shown wrfhin tr¥Jrrowlr*J8 in ¢uffenl liabiltties. Financlal Instrum•nts Th8se financial ststemenl$ for th8 yaar ended 5 April 2023 are the first financial slalements of Colin Oliphant Charilable Trust prepar&l in 8c¢tydance with FRS 102. The Financial Reporting Standard applicable In Ihg UK and Republic of Ireland. Tho dalo of tran$ilion to FRS 102 was the 6April 2017. Basic financlal a83ets, whith in¢lude debtOTS and Cash and b8nk baLances, are InallY measurod al transaction price including 1r8nsal#n cost$ and ar8 subsequentty carried at amorti88d cost using the effedivè interest method unle85 the arrangèment eonslitutes a fin8nThro transaction. where the transactlon 18 measured at the pres8nt value of the future raceipt5 discounted at a mathgl rate of inlorest. Financial as$trl$ dassffied as receivable wlhin onè yéar arg not amortised. 8a$k IlnanclalllalJKltles Basic fmancial liabli tt168, Includlrwj ugdilors and bank loans are Snllklty rgcognis8d at transaction pric• unl&ss the arrangement constitutes a finanang transact, where the debt instrument is meagured al the psent value of the future paymen18 discounted at a market ral& of Interest. Finanaal liabililk% das5ffjd as payablg vAlhin ijne year are not amoTbsed. Debt instruments ara 8ub86quentty carrtgd at amorb'sed cost, LssirrfJ the offg¢tivg intorest rale method. Trade ueditors are obllgallons to pay for goods or services that have been 8cquired in Ihe ordinary cours9 of operations from suppliers. Amounts payable are da5sified as currènt labil&$ rf payment is due wrthin onè y•ar or less. If not, they are presèntèd as nowurrenl Ilabllitie8. Trade ditOrS are recognised initsalty at transaction prir£ aThJ Bubsequèntly measured al amortised cost using the effect¢ in19re5t mothod. iknognilion of finaneialliablllUe$ Financial liabilities are dwe¢ognised when the Charftable Twsys ntraCtUal thlIgatn$ explre or 8 discharged or cancelled. 11
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Don*lion$ and18ga¢i98 Unregtri¢ted Unr•strlct•d fund• funds g•n•ral g•n•r•l 2023 2022 Donation8 aThl gifts 35,663 36,042 In¥vlJn•nts Unrastrlct•d Unmtrl¢t•d funds funds gen•rdl general 20LI 2022 IncThne from listad invastmants Interest from glls Incomè from lislad forelgn Inveslments Interest reGeN8ble 53,414 71,146 138 39.688 45,662 5,490 105.212 110,988 Othèr in¢ome Unro¥blct•d Unmtrl¢tsd fund8 fvnds geneMI genernl 2023 2022 GiftAid on cash inlro(frJc8d 8,916 9,010 -12-
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 RAl•lng lunds unms¢tsd Unrnstri¢tsd funds funds capltal capltal 2023 2022 Inveslment managomenl 27.845 27.471 27,845 27.471 Charitabk *ctiviti•¥ Grant fundlng 2023 Grnnt fundlng 2022 Grant fijnding of actiintiès (saè note 71 Share of govemanca costs I note 8) 145,110 7,140 7,818 7,818 152.250 Analys1$ by fund Unrestricted fvnds- general Unre8trlcted funds- capital 148,888 S,562 6,120 7,818 152.250 Grants payablg Grnnts 2023 Grants 2022 The UniveIty of Wolvgrhampton.. PHD Res8arch Project Tha Braln Tumour Charlty.. Athlt Diagnostic Resèarth 27,110 118,000 145,110 13-
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Support costs Support Oov•man¢• costs COBts 2023 Support Qovern•n¢e costs costs 2022 lThJ8p8ndgnl examingr 480 7,338 468 6.672 468 6.872 7,818 7,818 7,140 7,140 A1Y$ed betwee Ch8rlt8ble ath"wlO&8 7.818 7.818 7.140 7.140 G0veMan costs indudes payments to the independent examiner of £480 (2022 - £468) for axamination of the accounts. DSG Chartered Accountants have made lolal charges during the year of £7,338 12022 £6,672} for thelr servrEs as a Tnjstees. Thls bs classed as an allowable axpgnse accordlng to Ihg constituts"on. No other Trustee has received remuneration, r&imbursgm8nt of pènditle or bengfft in any knnd. 10 Employe•s There were no employees during the year. 11 Not 9•inO0MI on inveJlmerrt• Vnrnslri¢tsd Unrnjtricted funds fvDd$ apltal capltal 2023 2022 Revaluath)n of investrnents Gai¢Vlloss) on salg of invgslmonts 1252.6441 1122.8511 35B,020 73.433 1375,49¥ 431,453 14-
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 12 Flxed ass Iny1m•nts Unliited Inv•stmgnts Cost or valuation At 6 April 2022 Additions ation changes ProfiVIL0981 on 8ale of Investment$ Di8po3al8 6,798,989 3,560.287 (252.6431 (122,8511 (3,635,945) At 5April 2023 6.347.837 Carrylng amounl At 05 Awil 2023 8,347,837 Al 05 Awil 2022 6.798.989 13 Debtor• 2023 2D22 Amounts falling duo wilhin •n• y•ar. Ann& Ollphant Grfl aid redaim$ 5,358 8,916 2,340 9,010 14,274 11.350 14 Crndltorn: amounts falllng dug wlthln ong y••r 2023 2022 other creditors Accruals and defèrred Income 127,110 2.340 3,018 3.018 129,450 15-
COLIN OLIPHANT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO) FOR THE YEAR ENDED 5 APRIL 2023 16 Analy¥i$ of not awts b•tw••n funds Uftr•Btrlct•dUnrestrl¢tod funds funds g•nor41 ¢apltal Total Unr•strf¢tod Unrostrlct funds funds g•neral ¢apltsl Total 2023 2023 2023 2022 2022 2022 Fund balances at s April 2023 are represented by.. Invaslments Current assetslfjiabillies) 1,332.782 5,015,055 221.969 6,347.837 1.374.474 5,424,S15 6,798.989 221. 32,184 32.184 1.554.751 5,015,055 6.569.808 1,406,658 5,424,515 6,831.173 16 R•lat•d party tr•M•dioM The were no disdosable related paty transacllons durlng the Year12022 Th11 -16-