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|Incorporating Income and Expenditure Accoun<br>For the yearended 31 December 2022|t|||
|---|---|---|---|
|||2022|2021|
||Notes|||
|INCOMING RESOURCES||||
|Investment and similar income|3||115,851|
|TOTAL INCOMING RESOURCES|||115,851|
|RESOURCESEXPENDED||||
|Charitable activities|4|910,954|792,695|
|TOTAL RESOURCES EXPENDED||910,954|792,695|
|NET INCOME/(EXPENDITURE)||832,740|(676,844)|
|RECONCILIATION OF FUNDS||||
|Total funds brought forward|||27,247,662|
|TOTAL FUNDS CARRIED FORWARD||27,403,558|26,570,818|
|All funds received are unrestricted.||||
|There were no other recognisedgains or losses.||||
|All amountsderive from continuing activities.||||





|||2022|2021|
|---|---|---|---|
||Notes|||
|CURRENT ASSETS||||
|Cash at bank|||28,283,716|
|TOTAL ASSETS||||
|CREDITORS: amountsfalling due within one year|5||(931,773)|
|TOTAL ASSETS LESS CURRENT LIABILITIES||27,924,017||
|CREDITORS: amounts falling due beyond one year|6|(520,459)|(781, 125)|
|NET ASSETS||27,403,558||
|REPRESENTED BY:||||
|FUNDS OF THE FOUNDATION||||
|Unrestricted Funds||27,403,558||
|TOTAL FUNDS OF THE FOUNDATION||27,403,558||





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|3.|INVESTMEN|T AND SIMILAR|INCOME|||
|---|---|---|---|---|---|
|||||2022|2021|
||UK bank deposit interest|||60,375|2,058|
||Exchange differences||||113,793|
|||||1,743,694|115,851|
|4.|CHARITABLE ACTIVITIES|||||
|||||2022|2021|
||Grants made|—<br>Note 9||909,609|936,300|
||Reduction in|previous commitments|||(151,980)|
||Netdiscounts charged/(credited)||— Note 10|(10,506)|2,497|
||Governance|costs<br>- Audit fee||4,567|4,349|
|||- Administration costs||1,962||
|||- Bank charges||110|311|
|||||6,639|4,660|
||Exchange differences|||5,212|1,218|
|||||910,954|792,695|



||2022|2021|
|---|---|---|
|Grants payable|1,475,720|927,448|
|Accruals|10,854|4,325|
|||931,773|





||||2022|2021|
|---|---|---|---|---|
||Grants payable<br>- Note 10||520,459|781,125|
|7.|TRANSACTIONS WITH TRUSTEESAND RELATED|PARTIES|||
||There were no transactions with related parties during2022 or 2021.||||
|8.|TAXATION||||
||The Foundation is exemptfrom tax on income and gains arising in pursuit of||its charitable objects.||
|9.|GRANTSMADE||||
||||2022|2021|
||Institutional grants made:||||
||Science||565,760|790,000|
||Supporting advancements in medical science by creating the||||
||infrastructure necessary for long-term medical research and||||
||innovation.||||
||Education||255,000|61,000|
||Supporting a range of projects in the area ofeducation, notably||||
||thosefocussed on helping improve access to education for the||||
||disadvantaged.||||
||Arts|||800|
||Partnerships with organisations to help widen access to the|visual|||
||and performing arts.||||
||Heritage|||2,500|
||Supporting projects that preserve heritage sites and important||||
||cultural icons now and for future generations to enjoy and learn||||
||from.||||
||Environment||8,849|12,000|
||The Trust supports a diverserange oforganisations that work to||||
||protect the environment; from migratory sharks in our oceans to the||||
||spectacular diversity ofplants and fungi that populateour planet.||||
||Social Good||80,000|70,000|
||Helping people and communities, particularly those mostvulnerable||||
||and in need of support, is an important part ofwhatwe do.||||
||New Commitments||909,609|936,300|
||Reduction in previous commitments|||(151,980)|
||Exchange differences||5,322|1,218|
||Increase in commitments||914,931|785,538|





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|GRANTS MADE (continued)|||
|---|---|---|
||2022|2021|
|Reconciliation of grants payable:|||
|Commitments at I January||2,896,030|
|Increase in commitments|914,931|785,538|
|Grants paid|(616,709)||
|Commitments at 3 1 December||1,710,448|
|Payable within one year||927,448|
|Payable beyond one year|532,950|783,000|



## 

||2022|2021|
|---|---|---|
|Commitments payable beyond one year at I January|783,000||
|Discount to commitments at I January|(1,875)||
|Carrying value of discounted commitments at I January|781,125|1,229,212|
|Amounts committed during the year|82,950||
|Reduction in previous commitments||(73,490)|
|Exchange differences|(110)|354|
|Finance chargeattributed to:|||
|Discount increased (2021reduced) oncommitments at 1 January|(8,672)|2,497|
|Discount applied tonew commitments made during the year|(1,834)||
||(10,506)|2,497|
|Commitments becoming due within one year|(333,000)|(377,448)|
|Commitments at 31 December at carrying values|520,459|781,125|