| 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 | |
| Emailtash@coltfoundation.org.uk | |
| 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 |