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||Pages|
|---|---|
|INDEX||
|Charityinformation|1|
|Chairman'sLetter|2|
|TrusteesReport|3-9|
|Auditreport|10-13|
|StatementofFinancialActivities|14|
|BalanceSheet|15|
|Cashflowstatement|16|
|NotestotheAccounts|17-22|
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|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|
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|||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|
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||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|
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||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|
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||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|
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||Year|Year|
|---|---|---|
||ended|ended|
||31Dec2024|31Dec2023|
||£|£|
|Dividendsreceived|1,047,876|987,993|
||1,047,876|987,993|
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|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|
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|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|
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|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|
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