2024-12-31-accounts

	Pages
INDEX
Charityinformation	1
Chairman'sLetter	2
TrusteesReport	3-9
Auditreport	10-13
StatementofFinancialActivities	14
BalanceSheet	15
Cashflowstatement	16
NotestotheAccounts	17-22

Charitynumber	RegisteredCharity1190167
Trustees	ProfessorDavidCoggonOBEMAPhDDMFRCPFFOMFFPHFMedSci
	ProfessorPaulCullinanMDFRCPFFOM(appointed14th May2024)
	MrsClareGilchrist
	DrAlexJonesMChemPhDFRSC
	MrsPatriciaLebus
	ProfessorIraMadanMBBS(Hons)MDFRCPFFOM
	MrsChristinaFitzsimons(resigned6th November2024)
	ProfessorSirAnthonyNewmanTaylorCBEFRCPFFOMFMedSci(Chairman)
ChiefExecutive	MrsNatashaHeydon
ScientificAdvisers	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
	[e-mail]
Bankers	CaterAllenPrivateBank,2TritonSquare,London,NW13AN
Solicitors	Farrer&Co,66Lincoln'sInnFields,London,WC2A3LH
Accountants	TCGroup,3AcornBusinessCentre,NortharbourRoad,Cosham,PO63TH
Investmentmanagers	QuilterCheviotInvestmentManagement,SenatorHouse,85QueenVictoria
	Street,LondonEC4V4A

		Unrestricted	Unrestricted
		Funds	Funds
	Note	Yearended	Yearended
		31Dec2024	31Dec2023
		£	£
Incomingresources
Investmentincome	3	1,047,876	987,993
Totalincomingresources		1,047,876	987,993
Expenditure
Expenditureonraisingfunds:
Investmentmanagementcosts	4	(126,816)	(115,823)
Expenditureoncharitableactivities:
Charitableactivities	4	(561,518)	(1,079,774)
Totalresourcesexpended		(688,334)	(1,195,597)
(Loss)/gaininmarketvalueoflisted
investments		2,670,790	2,789,793
Netmovementinfunds		3,030,332	2,582,189
Reconciliationoffunds
Totalfundsatstartoftheyear		33,440,304	30,858,115
Totalfundsatendoftheyear		36,470,636	33,440,304

	31Dec2024	31Dec2023
	£	f
Fixedassets
Investments	36,713,295	34,184,494
Cashdeposits	1,155,709	735,436
	37,869,004	34,919,930
Currentassets
Debtors	1,200	1,200
Otherdebtors	83,498	80,723
Cashatbank	52,633	64,751
	137,331	146,674
Currentliabilities
Creditors:amountsfallingduewithinoneyear-grantspayable	(907,564)	(408,656)
Netcurrentliabilities	(770,233)	(261,982)
Creditors:amountsfallingdueafteroneyear-grantspayable	(628,135)	(1,217,644)
Totalnetassets	36,470,636	33,440,304
Thefundsofthecharity
Unrestrictedfunds	36,470,636	33,440,304
Totalcharityfunds	36,470,636	33,440,304

	31Dec2024	31Dec2023
	£	f
Reconciliationofnetincome/expendituretonetcashflowfrom	operatingactivities
Netincome/expenditurefortheyear	3,030,332	2,582,189
Investmentincome	(1,047,876)	(987,993)
Gainsoninvestments	(2,670,790)	(2,789,793)
Increaseindebtors	(2,775)	(16,761)
(Decrease)/increaseingrantcommitments	(90,601)	328,647
Netcashoutflowfromoperatingactivity	(781,710)	(883,711)
	31Dec2024	31Dec2023
	£	f
Cashflowfromoperatingactivities	(781,710)	(883,711)
Cashflowfrominvestingactivities
Purchasesofinvestments	(4,285,349)	(6,742,605)
Receiptsfromsaleofinvestments	4,427,338	6,344,086
Dividendsandinterestreceived	1,047,876	987,993
Netcashflowfrominvestingactivities	1,189,865	589,474
Netincrease/(decrease)incashduringtheyear	408,155	(294,237)
Cashandcashequivalentsbroughtforward	800,187	1,094,424
Cashandcashequivalentscarriedforward	1,208,342	800,187
Cashandcashequivalentsconsistsof:
Cashdeposits	1,155,709	735,436
Cashatbank	52,633	64,751
	1,208,342	800,187

	Year	Year
	ended	ended
	31Dec2024	31Dec2023
	£	f
Wagesandsalaries	84,800	79,950
Socialsecuritycosts	4,344	8,675
Employerscontributiontodefined contributionpensionschemes	5,686	5,487
	94,830	94,112

	Year	Year
	ended	ended
	31Dec2024	31Dec2023
	£	£
Dividendsreceived	1,047,876	987,993
	1,047,876	987,993

Expenditure
		Yearended	Yearended
		31Dec2024	31Dec2023
		£	£
Expenditureonraisingfunds:
Investmentmanagementfees		126,816	115,823
Expenditureoncharitableactivities:
Newgrantcommitmentsawardednetof	reversalofexpiredgrantcommitments:
05/06RSM,MilitaryMedicine	(3,838)	9,620
02/17Southampton,WalkerBone	-	(12,955)
03/18ImperialCollege,Vineis	(22,874)	-
01/19ImperialCollege,Cullinan&Feary	-	(4,290)
02/20UCL,Yates	(22)
03/20Oxford,Holdsworth	(96)	-
03/22GSTT	-	156,404
04/22Sheffield,Freeth	-	80,953
01/23IOM,McElvenny		119,768
02/23Swansea,Clift		270,638
03/23KCL,Smith	63,871
01/24GSTT,Ntani	70,450
StudentFellowships	322,059	329,429
		429,550	949,567
Managementandadministration:
Wagesandsalaries	94,830	94,112
Officeexpenses	7,942	9,761
Insuranceandsundry	3,229	3,218
Travelandsubsistence	16,138	9,860
		122,139	116,951
Gainsonexchange			633
Governancecosts		9,829	12,623
		688,334	1,195,597

5	Fixedassetinvestments
		Yearended	Yearended
		31Dec2024	31Dec2023
		Listed	Listed
		£	£
	Marketvalueat31December2023	34,184,494	30,996,182
	Additions	4,285,349	6,742,605
	Disposals	(4,427,338)	(6,344,086)
	Gains/(loss)inmarketvalueoflistedinvestments	2,670,790	2,789,793
	Marketvalueat31December2024	36,713,295	34,184,494
	Valueofinvestmentsat31December2024
	Totalfixedinterestinvestments	6,153,907	5,618,835
	TotalUnitedKingdominvestments	8,377,613	8,145,147
	TotalNorthAmericaninvestments	11,236,438	9,296,003
	TotalEuropeaninvestments(exUK)	3,982,866	4,194,466
	TotalJapaneseinvestments	1,105,351	1,042,165
	TotalAsianPacificinvestments(exJapan)	987,931	877,580
	TotalEmergingMarketsinvestments	1,184,371	1,112,963
	TotalGlobalinvestments	387,400	380,250
	TotalAlternativeinvestments	3,297,418	3,517,085
		36,713,295	34,184,494

Debtors
	Year	Year
	ended	ended
	31Dec2024	31Dec2023
	£	£
Prepayments	1,200	1,200
OtherDebtors	83,498	80,723
	84,698	81,923
Creditors-grantspayable
	Year	Year
	ended	ended
	31Dec2024	31Dec2023
	£	£
Grantspayableasat31/12/2023	1,626,301	1,297,654
Grantsawardedduringtheyear	492,471	981,686
Grantobligationsreleasedduringtheyear	(62,921)	(32,119)
Grantspaidduringtheyear	(520,152)	(620,920)
Grantspayableasat31/12/2024	1,535,699	1,626,301