2023-12-31-accounts - The Colt Foundation

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INDEX
Charity information
Chairman's Letter
Trustees Report	3	9
Audit report	10-13
Statement of Financial Activities	14
Balance Sheet	15
Cash flow statement	16
Notes to the Accounts	17-22

Charity number	Charity number	Registered Charity 1190167
Trustees		Professor David Coggon OBE MA PhD DM FRCP FFOM FFPH					FMedSci
		Mrs Christina Fitzsimons (Treasurer from January			2023)
		Mrs Clare Gilchrist
		Dr Alex Jones MChem PhD FRSC
		Mrs Patricia Lebus
		Professor ira Madan MBBS(Hons) MD FRCP	FFOM
		Professor Sir Anthony Newman Taylor CBEFRCP		FFOM FMedSci				(Chairman)
Director		Mrs Natasha Heydon
Scientific Advisers		Professor Paul Cullinan MD, FRCP, FFOM
		Dr Rodger Duffin BSc(Hons), PhD, MRCPath,	FRSB
		Dr Elaine Wainwright, CPsychol, PhD, FHEA,	MSc,		MA (Oxon)
Investment	Advisor	Mr noyston I ox FPFS
Charity address		Unit E, The Old Bakery
		Golden Square
		Petworth
		West Sussex
		GU2$ OAP
		www. coltfoundation. org.uk
		Email tash@coltfoundatlon. org.uk
Bankers		Cater Allen Private Bank, 2Triton Square, London,			NW1 3AN
Solicitors		Farrer & Co, 66Lincoln's inn Fields, London,	WC2A		3LH
Accountants		TC Group, 3Acorn Business Centre, Northarbour		Road, Cosham,				PO6 3TH
Investment	managers	Quilter Cheviot Investment Management,	Senator			House,	85	Queen	Victoria
		Street, London EC4V 4AB

		31Dec2023	31Dac 2022
Fixed assets
Investments		34,184,494	30,996,182
Cash deposits		735,436	1,084,178
		34,919,930	32,080,360
Current assets
Debtors		1,200	1,200
Other debtors		80,723	63,963
Cash at bank		64,751	10,246
		146,674	75,409
Current liabilities
Creditors: amounts	falling due within one year- grants payable	(408,656)	(892,892)
Net current liabilities		(261,982)	(817,483)
Creditors: amounts	falling due after one year- grants payable	(1,217,644)	(404,762)
Total net assets		33,440,304	30,858,115
The funds ofthe chanty
Unrestricted funds		33,440,304	30,858,115
Total charity funds		33,440,304	30,858,115

Net inrome/expenditure	for the year	for the year	2,582,189	(5,426,767)
Diwdends received			(987,993)	(976,463)
Gains on investments			(2,789,793)	5,501,997
Non-cash gift from former	charity
Interest received
Increase in debtors
Increase/(decrease) in grant commitments			328,647	56,021
Net cash flow from operating activity			(866,950)	(845,212)
			31Dec2023	31Dec 2022
			E	E
Cash flow from operating	activities		(866,950)	(845,212)
Cash flow from investing	activities
Purchases ofinvestments			(6,742,605)	(4,922,106)
Receipts from sale of investments			6,344,086	5,165,917
Movement in acrrucJ hitwest/dividend			(Le,ret)	(18,277)
Dividends received			987,993	976,463
Net cash flaw from investing activities			572,713	1,201,997
Net (decrease) in cash during the year			(294,237)	(356,785)
Cash and cash equivalents	brought	forward	1,094,424	737,639
Cash and cash equivalents	carried forward		800,187	1,094,424
Cash and cash equivalents	consists	oh
Cash deposits			733,436	1,084,178
Cash at bank			64,751	10,246
			800,187	1,094,424

		Year	Year
		ended	ended
		31Dec2023	31Dec 2022
Wages and	salaries	79,950	75,090
Sooal security costs		8,675	8,580
Employers contribution	contribution to defined pension schemes	5,488	5,986
		94,113	89,656

Expenditure
						Year ended	Year ended
						31Dec 2023	31Dec 2022
Ex enditure on raisin		funds:
Investment management			fees			115,823	122,344
Ex enditure on charitable			activities
New grant commitments			awarded		net of	reversal ofexpired grant commitments:
05/06 RSM, Military Medicine						9,620
01/17 Edinburgh, Duffin			& Poland				(21,203)
02/17 Southampton,	Walker Bone					(12,955)
02/18 UCL/LSHTM Caplin			and Pearce				(4,339)
02/19 Stirling, Semple							(10,639)
01/19 Imperial college,		Culiinan		&	Feary	(4,290)
01/20 Student impact	meeting						(6,734)
04/20 Imperial, Cullinan							(10,298)
05/20 LSHTM Pearce	and		von Tongeren				(688)
05/21 Bournemouth,	Regmi						94,212
01/22 UCL, Lamb							99,457
02/22 Loughborough							139,413
03/22 GSTT						156,404
04/22 Sheffieid, Freeth						80,953
01/23 IOM, McElvenny						119,768
02/23 Swansea, Clift						270,638
Student Fellowships						329,429	376,851
						949,567	656,032
Management and administration:
Wages and salaries						94,112	89,656
Office expenses						9,761	5,598
Insurance and sundry						3,218	3,238
Travel and subsistence						9,860	11,005
						116,951	109,497
Gains on exchange						633	24
Governance costs						12,623	13,336
						1,195,597	901,233

Fixed asset investments
	Yearended	Year ended
	31Dec 2023	31Dec 2022
	Listed	Listed
	E	E
Market value at 31December 2022	30,996,182	36,741,990
Additions	6,742,605	4,922,106
Disposals	(b,344,086)	(5,165,917)
Gains/(loss) in market value oflisted investments	2,789,793	(5,501,997)
Market value at 31December 2023	34,184,494	30,996,182
Value of investments at 31December 2023
Total fixed interest investments	5,618,835	4,472,534
Total United Kingdom investments	8,145,147	8,047,416
Total North American investments	9,296,003	7,8&3,677
Total European investments (ex UK)	4,194,466	3,223,300
Total Japanese investments	1,042,165	616,250
Total Asian Pacific investments (exJapan)	877,580	835,942
Total Emerging Markets investments	1,112,963	696,534
Total Global investments	380,250	321,742
Total Alternative investments	3,517,085	4,898,787
	34,184,494	30,996,182