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||Pages|
|---|---|
|**INDEX**||
|Charityinformation|1|
|Chairman'sLetter|2|
|TrusteesReport|3-9|
|Auditreport|10-13|
|StatementofFinancialActivities|14|
|BalanceSheet|15|
|Cashflowstatement|16|
|NotestotheAccounts|17-23|
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|**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|
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|||_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|
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||**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**|
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||**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|
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||**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|
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|||**Year**|**Year**|
|---|---|---|---|
|||**ended**|**ended**|
||**31**|**Dec2022**|**31Dec2021**|
|||**£**|**£**|
|Dividendsreceived||976,463|932,601|
|||976,463|932,601|
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||**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|
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|**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|
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|**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|
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