##
||Pages|||
|---|---|---|---|
|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||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||Funds|Funds|
|||||Note|Yearended|Yearended|
||||||31Dec 2023|31Dec 2022|
|Incoming resources|||||||
|Donations:|||||||
|Transfer of||funds to CIO|||||
|Investment||income|||987,993|976,463|
|Total incoming resources|||||987,993|976,463|
|Expenditure|||||||
|Expenditure||on raising funds:|||||
|Investment||management|costs|4|(115,823)|(122,344)|
|Expenditure||on charitable|activities:||||
|Charitable|activities||||(1,079,774)|(778,889)|
|Total resources expended|||||(1,195,597)|(901.233)|
|(Loss)/gain
investments||in market value of listed|||2,789,793|(5,501,997)|
|Net movement
in funds|||||2,582,189|(5,426,767)|
|Reconciliation offunds|||||||
|Total funds||at start ofthe|year||30,858,115|36,284,882|
|Total funds||at end ofthe|year||33,440,304|30,858,115|
##
##
|||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|
##
||||Year|Year|
|---|---|---|---|---|
||||ended|ended|
|||31|Dec2023|31Dec 2022|
|Dividends|received||987,993|976,463|
||||987,993|976,463|
##
##
|4|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|
##
|5|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|
##
##
##
|Debtors||||||
|---|---|---|---|---|---|
|||||Year|Year|
|||||ended|ended|
|||||31Dec2023|31Dec 2022|
|||||E|E|
|Prepayments||||1,200|1,200|
|Other Debtors||||au,rls|I S,ubx|
|||||81,923|65,163|
|Creditors- grants||payable||||
|||||Year|Year|
|||||ended|ended|
|||||31Dec2023|31Dec2022|
|||||6|6|
|Grants payable|as at 31/12/2022|||1,297,654|1,241,633|
|Grants awarded||during the|year|981,686|802,321|
|Grant obligations||released|during the year|(32,119)|(146,288)|
|Grants paid during the year||||(620,920)|(600,012)|
|Grants payable|as at 31/12/2023|||1,626,301|1,297,654|
##