| Pages | |
|---|---|
| INDEX | |
| Charityinformation | 1 |
| Chairman'sLetter | 2 |
| TrusteesReport | 3-9 |
| Auditreport | 10-13 |
| StatementofFinancialActivities | 14 |
| BalanceSheet | 15 |
| Cashflowstatement | 16 |
| NotestotheAccounts | 17-23 |
| Charitynumber | RegisteredCharity1190167 |
|---|---|
| Trustees | ProfessorDavidCoggonOBEMAPhDDMFRCPFFOMFFPHFMedSci |
| MrsChristinaFitzsimons(TreasurerfromJanuary2023) | |
| MrsClareGilchrist | |
| DrAlexJonesMChemPhDFRSC | |
| MrsPatriciaLebus | |
| ProfessorIraMadanMBBS(Hons)MDFRCPFFOM | |
| ProfessorSirAnthonyNewmanTaylorCBEFRCPFFOMFMedSci(Chairman) | |
| ChiefExecutive | MrsNatashaHeydon |
| ScientificAdvisers | ProfessorPaulCullinanMD,FRCP,FFOM |
| DrRodgerDuffinBSc(Hons),PhD,MRCPath,FRSB | |
| DrElaineWainwright,CPsychol,PhD,FHEA,MSc,MA(Oxon) | |
| InvestmentAdviser | MrRoystonFoxFPFS |
| Charityaddress | UnitE,TheOldBakery |
| GoldenSquare | |
| Petworth | |
| WestSussex | |
| GU28OAP | |
| www.coltfoundation.org.uk | |
| Emailtash@coltfoundation.org.uk | |
| Bankers | CaterAllenPrivateBank,2TritonSquare,London,NW13AN |
| Solicitors | Farrer&Co,66Lincoln'sInnFields,London,WC2A3LH |
| Accountants | TCGroup,3AcornBusinessCentre,NortharbourRoad,Cosham,P063TH |
| Investmentmanagers | QuilterCheviotInvestmentManagement,SenatorHouse,85Queen |
| VictoriaStreet,LondonEC4V4AB |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds | Funds | ||
| Note | Yearended | Yearended | |
| 31Dec2022 | 31Dec2021 | ||
| Incomingresources | |||
| Donations: | |||
| TransferoffundstoCIO | 9 | 31,702,441 | |
| Investmentincome | 3 | 976,463 | 932,601 |
| Totalincomingresources | 976,463 | 32,635,042 | |
| Expenditure | |||
| Expenditureonraisingfunds: | |||
| Investmentmanagementcosts | 4 | (122,344) | (121,307) |
| Expenditureoncharitableactivities: | |||
| Charitableactivities | 4 | (778,889) | (574,622) |
| Totalresourcesexpended | (901,233) | (695,929) | |
| (Loss)/gaininmarketvalueoflisted investments |
(5,501,997) | 4,345,769 | |
| Netmovementinfunds | (5,426,767) | 36,284,882 | |
| Reconciliationoffunds | |||
| Totalfundsatstartoftheyear | 36,284,882 | ||
| Totalfundsatendoftheyear | 30,858,115 | 36,284,882 |
| 31Dec2022 | 31Dec2021 | |
|---|---|---|
| Fixedassets | ||
| Investments | 30,996,182 | 36,741,990 |
| Cashdeposits | 331,593 | 210,151 |
| 31,327,775 | 36,952,141 | |
| Currentassets | ||
| Debtors | 1,200 | 1,200 |
| Cashatbank | 826,794 | 573,174 |
| 827,994 | 574,374 | |
| Currentliabilities | ||
| Creditors:amountsfallingduewithinoneyear-grantspayable | (892,892) | (925,762) |
| Netcurrentliabilities | (64,898) | (351,388) |
| Creditors:amountsfallingdueafteroneyear-grantspayable | (404,762) | (315,871) |
| Totalnetassets | 30,858,115 | 36,284,882 |
| Thefundsofthecharity | ||
| Unrestrictedfunds | 30,858,115 | 36,284,882 |
| Totalcharityfunds | 30,858,115 | 36,284,882 |
| 31Dec2022 | 31Dec2021 | |
|---|---|---|
| £ | £ | |
| Cashflowfromoperatingactivities | (845,212) | 523,815 |
| Cashflowfrominvestingactivities | ||
| Purchasesofinvestments | (4,922,106) | (3,176,407) |
| Receiptsfromsaleofinvestments | 5,165,917 | 2,503,316 |
| Interestreceived | ||
| Dividendsreceived | 976,463 | 932,601 |
| Netcashflowfrominvestingactivities | 1,220,274 | 259,510 |
| Netincreaseincashduringtheyear | 375,062 | 783,325 |
| Cashandcashequivalentsbroughtforward | 783,325 | - |
| Cashandcashequivalentscarriedforward | 1,158,387 | 783,325 |
| Cashandcashequivalentsconsistsof: | ||
| Cashdeposits | 331,593 | 210,151 |
| Cashatbank | 826,793 | 573,174 |
| 1,158,387 | 783,325 | |
| Reconciliationofnetincome/expendituretonetcashflowfromoperating | activities | |
| Netincome/expenditurefortheyear | (5,426,767) | 36,284,882 |
| Dividendsreceived | (976,463) | (932,601) |
| Gainsoninvestments | 5,501,997 | (4,345,769) |
| Non-cashgiftfromformercharity | (30,397,675) | |
| Interestreceived | - | - |
| Increaseindebtors | - | (1,200) |
| Increase/(decrease)ingrantcommitments | 56,021 | (83,822) |
| Netcashflowfromoperatingactivity | (845,212) | 523,815 |
| Year | Year | |
|---|---|---|
| ended | ended | |
| 31Dec2022 | 31Dec2021 | |
| £ | £ | |
| Wagesandsalaries | 75,090 | 65,606 |
| Socialsecuritycosts | 8,580 | 6,905 |
| Employerscontributiontodefined contributionpensionschemes |
5,986 | 2,898 |
| 89,656 | 75,409 |
| Year | Year | ||
|---|---|---|---|
| ended | ended | ||
| 31 | Dec2022 | 31Dec2021 | |
| £ | £ | ||
| Dividendsreceived | 976,463 | 932,601 | |
| 976,463 | 932,601 |
| Yearended | Yearended | |
|---|---|---|
| 31Dec2022 | 31Dec2021 | |
| £ | £ | |
| Expenditureonraisingfunds: | ||
| Investmentmanagementfees | 122,344 | 121,307 |
| Expenditureoncharitableactivities: | ||
| Newgrantcommitmentsawardednetof | reversalofexpiredgrantcommitments: | |
| 02/92King'sMSc's | - | 120,000 |
| 06/16City,Barbur | (1,450) | |
| 01/17Edinburgh,Duffin&Poland | (21,203) | - |
| 02/17Southampton,WalkerBone | (190) | |
| 02/ 18UCL/LSHTMCaplinandPearce | (4,339) | - |
| 04/18ImperialCollege,Feary | (5,488) | |
| 02/19Stirling,Semple | (10,639) | - |
| 01/19ImperialCollege,Cullinan&Feary | - | 50,759 |
| 01/20Studentimpactmeeting | (6,734) | |
| 04/20Imperial,Cullinan | (10,298) | |
| 05/20LSHTMPearceandvonTongeren | (688) | |
| 01/21Imperial,Amaral,Feary | 95,329 | |
| 02/21Surrey,Maben | - | 59,248 |
| 03/21City,Barber | - | 70,997 |
| 04/21Birmingham,Walters | - | 55,674 |
| 05/21Bournemouth,Regmi | 94,212 | - |
| 01/22UCL,Lamb | 99,457 | - |
| 02/22Loughborough | 139,413 | |
| StudentFellowships | 376,851 | 21,530 |
| Grantsofequipmentandsupportto students |
8,355 | |
| 656,032 | 474,764 | |
| Managementandadministration: | ||
| Wagesandsalaries | 89,656 | 75,409 |
| Officeexpenses | 5,598 | 10,361 |
| Insuranceandsundry | 3,238 | 1,238 |
| Travelandsubsistence | 11,005 | 1,843 |
| 109,497 | 88,851 | |
| Gainsonexchange | 24 | (3) |
| Governancecosts | 13,336 | 11,010 |
| 901,233 | 695,929 |
| 5 | Fixedassetinvestments | ||
|---|---|---|---|
| Yearended | Yearended | ||
| 31Dec2022 | 31Dec2021 | ||
| Listed | Listed | ||
| Marketvalueat31December2021 | 36,741,990 | 31,723,130 | |
| Additions | 4,922,106 | 3,176,407 | |
| Disposals | (5,165,917) | (2,503,316) | |
| Gains/(loss)inmarketvalueoflistedinvestments | (5,501,997) | 4,345,769 | |
| Marketvalueat31December2022 | 30,996,182 | 36,741,990 | |
| Valueofinvestmentsat31December2022 | |||
| Totalfixedinterestinvestments | 4,472,534 | 3,437,373 | |
| TotalUnitedKingdominvestments | 8,047,416 | 10,431,870 | |
| TotalNorthAmericaninvestments | 7,883,677 | 10,719,401 | |
| TotalEuropeaninvestments(exUK) | 3,223,300 | 3,011,916 | |
| TotalJapaneseinvestments | 616,250 | 675,180 | |
| TotalAsianPacificinvestments(exJapan) | 835,942 | 984,693 | |
| TotalEmergingMarketsinvestments | 696,534 | 887,826 | |
| TotalGlobalinvestments | 321,742 | 429,816 | |
| TotalAlternativeinvestments | 4,898,787 | 6,163,915 | |
| 30,996,182 | 36,751,990 |
| Debtors | ||
|---|---|---|
| Year | Year | |
| ended | ended | |
| 31Dec2022 | 31Dec2021 | |
| Prepayments | 1,200 | 1,200 |
| OtherDebtors | ||
| 1,200 | 1,200 | |
| Creditors-grantspayable | ||
| Year | Year | |
| ended | ended | |
| 31Dec2022 | 31Dec2021 | |
| Grantspayableasat31/12/2021 | 1,241,633 | |
| Grantcommitmentsfollowingthetransferfrom | ||
| TheColtFoundationon01/01/2022 | 1,325,455 | |
| Grantsawardedduringtheyear | 802,321 | 585,778 |
| Grantobligationsreleasedduringtheyear | (146,288) | (111,014) |
| Grantspaidduringtheyear | (600,012) | (558,586) |
| Grantspayableasat31/12/2022 | 1,297,654 | 1,241,633 |