REGISTERED COMPANY NUMBER: 05624514 (England and Wales) REGISTERED CHARITY NUMBER: 1121978
Report of the Trustees and
Audited Financial Statements for the Year Ended 30 November 2024
for
Columbia UK Fund Limited
Nielsens Chartered Accountants & Registered Auditors The Gatehouse 453 Cranbrook Road Ilford Essex IG2 6EW
Columbia UK Fund Limited
Contents of the Financial Statements for the Year Ended 30 November 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Report of the Independent Auditors | 4 | to | 6 |
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
Columbia UK Fund Limited
Report of the Trustees
for the Year Ended 30 November 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2024. The trustees have adopted the provisions of 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
Objectives and aims
The objectives of the charity are to advance and promote education and research at Columbia University in the State of New York, a US institution of tertiary education ('the University'). The charity aims to benefit the public by making educational grants, including those to support the attendance at the University by students who would not otherwise be able to afford to attend; and to support the provision of a high quality programme of undergraduate and graduate education.
Public benefit
The trustees confirm that they have regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities, and that such activities benefit the public in general.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The charity operates as a grant making charity and accepts charitable donations from alumni, friends and members of the public, mainly located in or connected to the UK. The charity concentrates its resources on making periodic grants to the University. All grants are approved by the board of trustees.
In the year under review gross income amounted to £1,806,034 (2023 - £1,745,082). No grants were made to educational institutions in the current year. (2023 - £2,241,146).
The plan for future periods is to continue to further refine the charity's internal procedures in respect of donation acceptance and grant making and to continue with these activities. This is achieved by soliciting gifts from alumni, friends and members of the public, mainly in the UK, which has enabled funding for the public benefit, by making grants to the University.
FINANCIAL REVIEW
Financial position
The company had reserves of £1,891,435 (2023 - £103,972) available for making educational grants to meet the charity's objectives.
Investment policy and objectives
Funds not immediately required for charitable grantmaking are placed on deposit with financial institutions.
The Charity may consider making financial investments with financial institutions and in doing so may consider obtaining advice from financial experts.
Reserves policy
As a grant making charity with no employees and minimal overheads, there is limited need for the charity to hold substantial sums as reserves against future expenditure and accordingly the charity only maintains sufficient funds to meet annual administrative expenses, which on average do not exceed £5,000.
Going concern
The financial statements have been prepared on a going concern basis as the board of trustees believe that no material uncertainties exist. There is no particular policy to hold reserve funds over and above the minimum required to meet administrative costs and financial commitments are only made when funds are available. It has considered the level of funds held and the expected level of income and expenditure likely to be received in the 12 month period from authorising these financial statements. In its opinion, the budgeted income and expenditure, are sufficient with the level of balances for the charity to be able to continue as a going concern.
Page 1
Columbia UK Fund Limited
Report of the Trustees
for the Year Ended 30 November 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Company is a registered charity governed by its Memorandum and Articles of Association dated 16 November 2005, as amended on 21 November 2007, which set out its objects, powers and governance. The charity is a limited company,as defined by the Companies Act 2006, having a share capital of £100.
The charity's Memorandum of Association requires its assets to be solely applied to its charitable purposes and expressly states that no dividends shall be paid to shareholders.
Recruitment and appointment of new trustees
Any new appointments are at the recommendation of the Committee or by the shareholder.
Organisational structure
Under the Articles of Association, the trustees manage the activities of the charity and are empowered to exercise all of the powers of the charity pursuant to its objects. The charity is a small organisation. and has no employees but receives the services of a consultant administrator. All decisions on grant making by the charity are by the trustees.
At present the board of trustees must comprise of at least four persons, without an upper limit. Trustees cease to hold office until they resign or on the happening of certain events as laid out in the governing document.
Decisions may be taken by the trustees either in a meeting or in writing as long as the decision is either unanimous or, if by majority, decision, where at least 75%.% of the votes cast are in favour of a particular conclusion on that matter.
There has been an average of five trustees throughout the period.
Induction and training of new trustees
No new trustees were appointed in the period under review, but it is the charity Committee's aim that all new trustees be given sufficient information and/or training to supplement their existing knowledge of their specific field and experience so as to enable them to understand the nature of the charity and fully comply with the charity's current status and its progression. They are required to participate in an orientation day to ensure they are aware of both their legal and professional regulatory responsibilities under charity and company law. Frequent reviews are carried out by experienced staff members to ensure that they are all sufficiently managing their duties and the charity may consider internal and external training sessions where appropriate.
Key management personnel
The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the trustees of the charity. The trustees are not remunerated for their role.
Related parties
The principal beneficiary of the charity is the corporation known as Columbia University in the City of New York, whose trust board is also the sole shareholder.
Grants made to The Trustees of Columbia University in the City of New York in furtherance of the charity's objectives were Nil (2023 - £2,241,146).
The company's audit and accountancy £3,030 (2023 - £3,030) and bank charges £5,274 (2023 - £5,823 ) were met by the shareholder (Total £8,304 (2023- £8,853).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05624514 (England and Wales)
Registered Charity number
1121978
Registered office
19 Norcott Road London N16 7EJ
Page 2
Columbia UK Fund Limited
Report of the Trustees
for the Year Ended 30 November 2024
Trustees
A Ahuja B Golden A M Hoffman A Alverson P Keenan
Company Secretary
E Flood
Auditors
Nielsens Chartered Accountants & Registered Auditors The Gatehouse 453 Cranbrook Road Ilford Essex IG2 6EW
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Columbia UK Fund Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Nielsens, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on 17 July 2025 and signed on its behalf by:
P Keenan - Trustee
Page 3
Report of the Independent Auditors to the Trustees of Columbia UK Fund Limited
Opinion
We have audited the financial statements of Columbia UK Fund Limited (the 'charitable company') for the year ended 30 November 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 30 November 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 10 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded 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 significant doubt on the charitable company's ability to continue as a going concern 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 going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
the charitable company has not kept adequate accounting records; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 4
Report of the Independent Auditors to the Trustees of Columbia UK Fund Limited
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the sector in which it operates, we identified that the principal risks of noncompliance with laws and regulations related to the acts by the charity, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements. We evaluated trustees' incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated income.
Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, enquiries of management and review of internal reports in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 5
Report of the Independent Auditors to the Trustees of Columbia UK Fund Limited
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Nielsens Chartered Accountants & Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 The Gatehouse 453 Cranbrook Road Ilford Essex IG2 6EW
17 July 2025
Page 6
Columbia UK Fund Limited
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 30 November 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Charitable activities Educational grants Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
30.11.24 Unrestricted funds £ 1,806,034 - 18,571 18,571 1,787,463 103,972 1,891,435 |
30.11.23 Total funds £ 1,745,082 2,241,146 40,840 2,281,986 (536,904) 640,876 103,972 |
|---|---|---|
The notes form part of these financial statements
Page 7
Columbia UK Fund Limited
Balance Sheet
30 November 2024
| 30.11.24 | 30.11.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 4,492 | 12,849 |
| Cash at bank | 1,886,943 | 91,123 | |
| 1,891,435 | 103,972 | ||
| NET CURRENT ASSETS | 1,891,435 | 103,972 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 1,891,435 | 103,972 | |
| NET ASSETS | 1,891,435 | 103,972 | |
| FUNDS | 8 | ||
| Unrestricted funds | 1,891,435 | 103,972 | |
| TOTAL FUNDS | 1,891,435 | 103,972 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 July 2025 and were signed on its behalf by:
P Keenan - Trustee
The notes form part of these financial statements
Page 8
Columbia UK Fund Limited
Cash Flow Statement
for the Year Ended 30 November 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Tax paid Net cash provided by/(used in) operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
30.11.24 £ 1,787,463 8,357 1,795,820 1,795,820 91,123 1,886,943 |
30.11.23 £ (536,904) 7,801 (529,103) (529,103) 620,226 91,123 |
|---|---|---|
The notes form part of these financial statements
Page 9
Columbia UK Fund Limited
Notes to the Cash Flow Statement
for the Year Ended 30 November 2024
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Net cash provided by/(used in) operations 2. ANALYSIS OF CHANGES IN NET FUNDS Net cash Cash at bank Total |
At 1.12.23 £ 91,123 91,123 91,123 |
30.11.24 £ 1,787,463 1,787,463 Cash flow £ 1,795,820 1,795,820 1,795,820 |
30.11.23 £ (536,904) (536,904) At 30.11.24 £ 1,886,943 1,886,943 1,886,943 |
|---|---|---|---|
The notes form part of these financial statements
Page 10
Columbia UK Fund Limited
Notes to the Financial Statements
for the Year Ended 30 November 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:Statement of Recommended Practice ('SORP') 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Columbia UK Fund Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. In addition, the shareholder has indicated financial and other support, at least for 12 months from the signing date of this report.
Income
All income, including grant income, is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
Costs are all allocated to the main activity being the collection of funds to enable grants to be made to educational institutions.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Where applicable, further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
continued...
Page 11
Columbia UK Fund Limited
Notes to the Financial Statements - continued for the Year Ended 30 November 2024
2. DONATIONS AND LEGACIES
| Donations Gift aid Donated services and facilities 3. GRANTS PAYABLE Educational grants 4. SUPPORT COSTS Other resources expended 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration Auditors' remuneration for non audit work |
Finance £ 15,541 |
30.11.24 £ 1,576,494 221,236 8,304 1,806,034 30.11.24 £ - Governance costs £ 3,030 30.11.24 £ 1,230 1,800 |
30.11.23 £ 1,468,243 267,986 8,853 |
30.11.23 £ 1,468,243 267,986 8,853 |
|---|---|---|---|---|
| 1,745,082 | ||||
| 30.11.23 £ 2,241,146 |
||||
| Totals £ 18,571 30.11.23 £ 1,230 1,800 |
Totals £ 18,571 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2024 nor for the year ended 30 November 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2024 nor for the year ended 30 November 2023.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 30.11.24 | 30.11.23 | |
|---|---|---|
| £ | £ | |
| Tax | 4,492 | 12,849 |
continued...
Page 12
Columbia UK Fund Limited
Notes to the Financial Statements - continued for the Year Ended 30 November 2024
8. MOVEMENT IN FUNDS
| At 1.12.23 £ Unrestricted funds General fund 103,972 TOTAL FUNDS 103,972 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,806,034 TOTAL FUNDS 1,806,034 Comparatives for movement in funds At 1.12.22 £ Unrestricted funds General fund 640,876 TOTAL FUNDS 640,876 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,745,082 TOTAL FUNDS 1,745,082 |
Net movement in funds £ 1,787,463 1,787,463 Resources expended £ (18,571) (18,571) Net movement in funds £ (536,904) (536,904) Resources expended £ (2,281,986 ) (2,281,986 ) |
At 30.11.24 £ 1,891,435 1,891,435 Movement in funds £ 1,787,463 1,787,463 At 30.11.23 £ 103,972 103,972 Movement in funds £ (536,904) (536,904) |
|---|---|---|
Retained Funds include £100 represented by the called-up, allotted and fully paid share capital of 100 ordinary shares of £1 each, held by the ultimate controlling party.
continued...
Page 13
Columbia UK Fund Limited
Notes to the Financial Statements - continued
for the Year Ended 30 November 2024
9. RELATED PARTY DISCLOSURES
The principal beneficiary of the charity is the corporation known as Columbia University in the City of New York, whose trust board is also the sole shareholder.
Grants made to The Trustees of Columbia University in the City of New York in furtherance of the charity's objectives were Nil (2023 - £2,241,146).
The company's audit and accountancy £3,030 (2023 - £3,030) and bank charges £5,274 (2023 - £5,823) were met by the shareholder (Total £8,304 (2023- £8,853).
10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11. ULTIMATE CONTROLLING PARTY
The shares in the charity are wholly owned by The Trustees of Columbia University in the City of New York, a corporation organised and existing under and by virtue of a charter granted by the City of New York, U.S.A., which the trustees regard as the ultimate controlling party.
In the event of the dissolution of the company, the reserves and capital of the company may only be utilised for a charitable purpose, or as directed by the Charity Commission.
Page 14
Columbia UK Fund Limited
Detailed Statement of Financial Activities for the Year Ended 30 November 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Donated services and facilities Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Finance Bank charges Exchange rate differences Governance costs Auditors' remuneration Auditors' remuneration for non audit work Total resources expended Net income/(expenditure) |
30.11.24 £ 1,576,494 221,236 8,304 1,806,034 1,806,034 - 3,766 11,775 15,541 1,230 1,800 3,030 18,571 1,787,463 |
30.11.23 £ 1,468,243 267,986 8,853 1,745,082 1,745,082 2,241,146 3,895 33,915 37,810 1,230 1,800 3,030 2,281,986 (536,904) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 15