ORMAN COLLISSON fouNDA CH 2638 ON TRUSTEES. REPORT AND FI AN LSTA F.MENTS Year EndLd ' APRIL 2U25
TH N COLLISS FOUNDA TIO INDEX Trusiees. Report. Independent Exainirtaiion Report. Statcffient of Ftnan¢ial Acrivities. Balante Shecr. 7-10. Not¢5 to the Financial Statement5.
LLISSON fouNDA TRIJSTEE.%' REPOR The Trusiees PTeseni th¢ir ReEh)Tl, iogeihcr with the Financial Staiements, fror the year endcd 51h Administration In April 2025. ormaiton Registered Charity Numbcr.. 263852 Governing Insirunieiii.. I rusi Deed d21cd 5th March 1970. Pi'in¢ipal Oftic¢ Addre$s'. 25A Mai'kct Square. Biccsicr, Oxoii. OX26 6AD Truslecs and Principal Ofticer%'. Mr. R. C. M. Colli550n (Chairman) 4r..l. G. Hellcr Miss.,S. E. Collisson Professor A..1. Carr Bankers.. Barclays Bank p.l.c.. 50 Pdll Mall, Loiidon. SWIA IQD Investmeni Managers Raihbone£. 8 Finsbury Circu& Nqayfair, London. EC2M 7A7 IndLp¢ndent Examin¢r'. Edwin Smith ChartLr¢d Aecountants 32 Qu¢ens Road Rcadiiig RGI 4AU SleMent of T usiec%' Res Chariiy Law rquiic8 IliL' I rustees lo ptrepare financial siaiements for each finanLial year, in accthrdance with Unii¢d Kingdotn CJciicTally AcLepied Practice Iunited Kingdoill Ac£ounling Siandards and applicablc lawl. Th¢ financial.4taitrn¢nis are required by laiv to give a true *)nd fair view ofihe stat¢ ofaftaiTS ofihc Cliarjly and of ils incoining resouires and applications of resour of the Charity for lat Iriod. In preparing Ihese financial stalcmeni& the Trustees should folloiv besi practicc and.. Srlcci sultablc accounting polici¢s and then apply Ihcm consisni1y. b. Make.judgemcnts aiid &%litnaies Ihat are asOnable PTudeni. Stai¢ wh¢iher applicable UK Accouniing Standards have folltswed, subj¢cl 10 any maicrial deparwres disclosed and explainLd in the financial siatcmcnts. Preparc Ihc financial staiemenis on Ilie going eoncern basi5. unles8 it 15 inappropriaie to assume tliat the Charity will wntinuc to fvnciion. The Trusices are responsibl¢ for kcepinE propel. accounting rccDrd4. %%'hich disclose, Ivith r¢a$onahle accuracy ai any titn¢. IhL financial pvsiiion of the CharitN, and to enable th¥tn 10 ensiire thai, Ivli¢rt dppliiobl¢. th¢ finanrial 5tatemeiiis coixply with Ihe applicable lau.. regulalions and tru51 dccd. They also rL5ponsibl¢ foT safeguarding Ihe asseL% of the Charity, and h¢n¢t for iakiiig 1rdnable sieps for the preveniion and deteciion offraud or otlier irgularl[l¢s.
E NORMAN COLLISSON UNDATI TRUS EE Coniinu¢d nce & Mana emenl The Charilv .% uoiisliiulion was adopted ort th¢ 51h March 1970 by Trust D¢ed, cr¢ating a Charilable Trust. Th¢ apwintsneni of new Trusiees is ve%ied in Mr. R. C. M. Collisson a5 StaiLd in tlir founders Will. ApwinlcLs are intervieived by Mr. R. C. M. Collisson and are pi'ovided ii'iih full infoi'iiiation aboui the Charity befo1¢ bring invited loioin th¢ Board. New Trustees are given an appropi'iale ijiduciion programm¢ to the workings of Ihe Charity and receive tr8inin8 as n¢Gessary. The Board fr1¢¢ Members genei?Ily meet bi-annuallv and otherwise as require¢f to administer the Charity. The Board ot Trustees delegate the day to day running of the Chariiy 10 Wilkin5 & Co., BicL5t¢r and [nan(¢ent and custody of invcstments 10 Raihbones. The Board Members have overall responsibility for ensuring thai the Chariiy has appropriate systetns of Lx>nirol. financial tnd oihcrwise. These systems should provide reasonable assurance Ihat'.- IhE ¢harity 15 operating tfrficienily and efl¢ciively. its &8stls are sdfrgyuarded dgainst unauthorised use OT di8POSltion. pi'oper rcLords are tnaiiilained, and finanLial infortnarion used ii.ithin the charity. or for publicaiion, is reliable. and the cliarity complies M'ith Irlcvanl laS rtgulation5. Th¢ systems of'int¢i'nal coiilrol air designed 10 providc r¢asonable. but not ab501ute llssultnce a8ains( iiiaierikjl Jnissuienient ur loss, Ihcy include-.- regular consideration by-l tuslees of financial results. and delegation of authority and segrcgation of duties as dLfined above. kRev The Twstees have as%essed the major risks to ivhich Uic Ch&'ily niay be Lxposed. iii particular Iho8c relatcd lo Ihc operation and tinanLes of IliL Tiust and arL satisticd that S)Stwns are in plac¢ to miligaiL Ilieir exposuiy io the major risks. The I'rusites lake legal and other pr()fessional advice wherevLr nccessary and Ivill alwavs continue to do so. Ob'ectives and At lkne objects. of th¢ Charity tre as follows... Al The general Promotion. advanceinLnt and en¢oura2etnent of the arts and scienL¢s of archiiecturc. and of mcchwiical and conslruaional ¢n8ine¢ring. Bl The genera] protnolion and encouragement of Studies and rcsearch into archileclural dnd nicchanical and construcliondl enginecriiig. Cl Th¢ gcneral protnoiion, advan¢etllcnt and encOUreient of surgical m¢dical sci¢nce. DI The genetral proinotion and Cncouragemctti of sutBical and medi1 siudi¢s and re5¢arch. The Trustc¢s ha¥L fLfcrred li) Ihe guidaice the Charity Coinmissions general guidvmc¥ on publir benelii wh¢rt iyvieiving iheir aims and objcctivcs aiid iii planninuT their future a¢tiVilies. In parti¢ulai' lh¢ Truste¢5 eonsidcr how plannLd activitie5 will ¢onirtbule lo the diins and objeetivcs they hai'c s¢t. Achievetnents and Perf ante I'h¢ Foundaiioji s finantial accounting ycar ended 5 Api'il 2025 produced ihe followiiig r¢sulis'. Incomc aillounLe(I to £121,363 bcing a decrLase of £38,667 N%'hen compared .1111 the previous year. The income is deiived frotn intercst and dividends 1518 from investments made vn behalf of the Charity by an indepettd¢lll finthcial management Cotnpany.
THENORM COLLISSON F UND ()N TRUSTELS.. REPORT Co nue A¢hievcmenis and Pci'f rmance Coniinue Mana¥¢meni cxpendilure of £58,705 increascd by £7.656 Compared to 2024. This was due 10 an in¢rcase in manag¢ment fces for day lo day iunning Costs paid lo Wilkin5 & Co, Biccs1¢r. Charitable donations 8how a cost of £440.486 in the accounts for the year. Thi.% relates io a new grants being am'arded. A net operating deticit of £377.828 arDse in the y¢ar12024 deficit £25.515). The IJLficii of £377.828 arose fD)m noimal operations and ar05e due lo a new grants being Lonitnilted to in IhL vear. Arter taking account ot-a decrease in the value of tlie Cliarity's quoted investmenis iii the year of £406,244 12024 incrca$¢ £534,624) the Charity recorded overall deficit of £784,072 (2024 £509.109 ovcrall surplusl. The overall iolal of Unrcstrtcled Funds ai 51h April 2025 amounted 10 £5,402.456 and was represented by qLlOted investments thd cash deposiis less crcdiioT5. The balance held on the Charity s bank current accounl will ¢oniinue 10 be reviewLd aiid coiiipar¢d with known futur ouigoings with aiiy excess funds being rettinied 10 the fin¢la1 maiiagcmcDI cojnpany for re-invesimeni. Having regard to currcnt market condiiion4 ihe Tru5tces cons&der Ihat tliat the Poitfolio h&s p¢rfoitn¢d sdtisfactorily when compaTed to similar invesiinent funds. ina ial Rei'iew R¢serv¢5 P ITC No coininilinenis are Inadc unless funding is in place and the Trusiees intend that thi5 policy will Continue for the pr0ctIOn of I'rustees. Grdni Nqaki (Trant applicdlions in respect of mcdical research are tonsid¢red at the periodic Trustees, Meetings. and ifapproved they are Lonfririned by Ihc Trustugs. The Trubt¢es are ablc to make grants from both the capi&l and incoine of the Cliariiy. Csltncni Polic The monics and pr(>perty of the Charity not imtnediat¢ly required for th¢ purpose ol-the Charity Inay bc held or Y¢sicd in such persons, whcther Members of Ihe Charity or not. as the 1302rd ot-Ti'usiees may from tirne lo time dciermine a5 HolJing Trustees. The I'riislecs have placed the rnanagcmeni ofihe Charity'% Tni'osttnenis 14.iih a fully authoriscd invLstmeni management Ol'8dni5aiion are in rLcLlPt ofquartei'lj r¢txirts froni this organisaiiun. These repnns £LSSiSI Ihc TrusicLS r¢garding lh¢ iliVCSlni¢ni fund value and asset5 of ihe Charity. and in considcring decisions regarding expcndilurt of lunds where applicable. The Tru5tce.s rcviciv Ihc perforrnanc¢ of Ihc inv¥slniciii nianagement organisalion periodically, by measuring ihe portfolio pertoriiiance againgi Rarhhon¢ Bencli Mark 5 total r¢iurn indcy and a ran¥e of oiliLr coinparators, wilh any signiftcant variaiions bEing discussd ¥vith the iovestnient tnanageiiienl Orglsai10n. l)lan for th¢ l.'Llture Iviih all availablc funds continun 10 be held in Ihe hands ora firm of invcsimcni ltind Inanagers the Tru8tec% can corttinuc lo conc¢nirai¢ on the maiii aitns ol'ih¢ Chariry being the fiinding of Medical rescarch proj¢cis. The Trustee% have resolved that the Charity sliould not hold any diTect invesim¥nls in Ihe tobacco industry 2nd will ¢ontinu¢ lo Itview the inv¢sim¥nls held in order to ensure ih4t thc firm U1.n1'esn¢Tht managcrs ar¢ cotnplying M'iih this R.C.M. COLLISSON Dated.............. On bthalf ofihe Board of Trw8tees
INDEPENDENT EXAMINER. COLLISSON FOUNDATION REP RT TO THE TRUSTEE OF THE NORMAN report to th¢ trustees on my examination of the accounts of The Norman Collisson Foundation (the Foundaiion) for the year ended 5th April 2025, which arc set out on pages 5 to 10. Res onsibilities and basis of Te As the charit). trusiees of the Foundation) you are responsible for the preparation of the accounts in a¢¢OTdance with the r¢quiremertts to the Charities Acr 2011 I'th¢ Act'l. I report in respect of my exajnination of the FoundatiotL'S ac¢ounts caTiied out under section 145 of the 2011 Act and in catrying out my examination I have followed all the applicable Direction5 given by the Charity Cotnmission under section 14515)Ibl of the 2011 A¢t. Inde ¢ndent examiner's Statcrn¢nt I have Cornpleted examination. I confirm that no n)aterial niatters have ¢onie to my attention iji connection with the exaniination giviiigF nie cause to believe that in any Tnalerial respect.. l) Accounlirtg records w'ere noi kept in resp¢ct of thc Foundatlon a5 required by se¢tion 130 of the A¢¢,. or 21 The accounts do not aceord with those records.. or 31 The accout]ts do not comply with the applicable requirements con¢eming the form artd content of accounts set out ii) Ilie Cliarilies (Accounts at)d Reports) RegLilaii<)i)s 2008 other thali any requircmcnt tliat tlic ac¢ouiits give a 'trlle aiid fair view, which is not a matter considered a5 part of an independent examination. I liave tjo conccnis aiid h3v¢ come 2cross no other matters in Connection with the exaniinaiion lo which attei)tion slioiild be dram'n in this repon in ordei- to enable a pi'oper understanding of the accouiiis to be reaclied. P. Nixon F.C.A. Edivin Sjiiiih .hartered Accountants 32 Queens Road Re)ding RGI 4AU Datc.. 102
THE ORMAN COLLISSON FO DATION I'A fEMENT OF FINANCIAL ACT vI-riL.% tor the ea cn APRIL 2 25 025 Unrestricted 2024 Unrttslricted Fund Notes Income InvesimeTrt Incorne 121,363 160.030 cndilur Charitable Aciivtiies Oih¢i- Govcmanic COSTS 2 lal 21b) 440,486 58,705 134.496 51,049 Total Expettditure 499,191 ei Incomin 185,545 enditure for the ear {377.8281 Oiher Reco nised GaTns & L055eS GainJlL0$5¢sI Dn invcslm¢nl asse 125,515) 1406.2441 Nei Movetnen 534,624 unds 1784,0721 T al F nd% brou 509.109 11 forward ril 2024 6,186,528 Totsl funds thvried fo 5,677,419 rd th A ril 2025 £ 5,402.456 £ 6.186.528
NORN(4N COLLI ON FOUNDA'fioN BALANCE HEET as 5" APRIL 2025 202 ?024 Unr¢slricied UnrL'btricicd Fuiids 01 Fixed As Inyeslinenis 5,865.723 6,490,217 Current As8eis Cash ai Bank 139.554 140,748 Tt>lal Current A 139.554 140.748 Creditors.. amounts falling due wiihin onkn year Net Cuiren 269.488 338,841 IAsseis 1129,9341 {198.093) 5,735,789 6.292,124 Crediiots.. amounts fallin8 due after ont year 333,333 105.596 Net rrcn Asscls £ 5,402.456 £ 0,186,528 Th¢ Funds of the Chaiit Unresiricied fund$ 5,402.456 6,186,528 £ 5,402.456 6.186,528 Approvcd on behalt'ofihe Board ofTrustees on . and signed on ils b¢half by.. J. G. FIELL6R- RLSTEE
THEN
AN
ISSON FOUNDATION
STOTHF
ANCIAI.
TATEMENTS for the
t. ended 51h APRIL 2
l. AC
N I-ING POI.ICIES
The Ntsriiian Collisson Fouiidaiion ib a registercd chariiy inrorporaied in England Wales and governcd by Trust
Deed. l-hc principal ofrlice addrc55 is 25A mk¢1 Square. Bicestcr, O¥on, OX26 6AD.
The lin£CIal siaiemenis have been prepared in aceordan¢e iviih AcLouniing and Reponing by CliaritiLS.'
Staicmcnl ol. Rc¢omiiiendLd Pr
HF. f¥ORMAN LI8SON FO NDA TION NOTES T TIIE FINANCIAL TA TEMENT e. endL PRIL 2025 g) Realised and nTealiscd Gains and ss All gain.% and losses gre lakL'n tD IhL Siaieireni ot'Financial Aciivilies as (hey arise. Realised gains and loss¢s o inw¢simenL% are calculaieé as the diffttr¢iiLe beiween %ale proeeeds and thcir openiiig carrying i'alue or Ilieir purcliasc valuc ifaLquired subsequeni to the firsi da}, of the financial year. Llnrealiscd 8ains and 105ses on inve51mLlll ¥L%seis are calculated as tlie dilTerenc¢ b¢t%¥e¢n lh¢ fair valLie ai die year end and tliLir carrying value. Realised and uiircalis¥d invesiinent gains and losses aTe combined in the Siattrincni ofi.'in3nci21 Aciivilies. h) Debttrr Deb1015 are cognISed ai theiT s¢iIIcix¥ni aniouiii. at ljank Cash ai bank includes cash held at bank Current cOunts and rash accounts with rh¢ Investment Mana8¢rs. rs and Crediiors and pr()ViSiU115 .here the charity ha5 a prescnt obligation resulting from a past ei'eni Iliat will piobabl>' r¢suli in th¥ transfer of luttd5 to a Ihird party and rhe aiiiounl due 10 scitlc IliB ubligaiTon ean b¢ tn¢asura or esiimal¢d reliably. Cr¥diloi's dnd provisions &i-¢ staled at their 5eiil¢ment amouni. Legally bindiiig and non-legally biiidiiig commitment% arc sjiown in the Notes 10 the Financial Siai¢menls. When rittancial support is proJiiis¢d, but not coiilracled, the amount 15 shown in th¢ Finantial Staiemenis wlien paid. 11 R erves The Trustees will nul comniit funds for any dooations, unlcss iiionies are in place or Ihe receipt of sanie is definitc. The Trustees always ensuir that funds availablc foi. overheads for ar leasi one futUTe year. -XPENDIT RE 2025 University of Oxford Funding appri>ved in Ihe year 440.486 £ 134,496 bl Mana tment nd Adrninislraii Bank ChclrKe5 Investmeni Mana8¢r Aceoiiiitancy Sei'viecs IndL'pendeni b.xaiiiiDers Fce Tru.8ILc Mectijig ExpensLS n of he Chari 105 40,025 11.686 2.160 2.248 156 58.705 51.049 No salarie5 were paid to any Trustee12024. £Nill. Expenses were paid to Trusle¢s in tho y¢ar WLre £15612024-
E NORMAN COLLI8 N FOUNDATION NOTES TO THE FINANCI L STA'FEMENTS rihe L'J. ¢nd¢d 51h AP LIABILITIE 2025 2024 un within o Trad¢ Creditors Professional Fees Charitabl¢ Dvnaiion5 9,864 6.000 253.624 9.315 6.9aO 322.628 £ 269,488 £ 338,841 Amoun ftcr one ear Charilablc Donations £ 333.333 105,596 4. ACC GR F COMMIT Nl's In accordance 'Ith policy Noi¢ Il¢} wniiacted grants are accounted for ai dic inception of the granl. The &crued donations comprise'.- 2025 Duc dftcr One Year Oiic Year Ilie Developtncnt of t Novel lJrdid¢d EI¢cirospun Cord for Knec Ligameiii Rep&ir Tru¥ Colours IBI) I'ndeavour Biolig Proj¢¢l- NLW Grant ResLaiEh Plg[l$s1c Supr<inuelear Palsy- NeN4' Grant Clinical Study of PnlvnLuropathylniyopathy- Ncw Grdnl 117.366 34,106 16,666 50.0 40.486 83.333 250.0 £ 253,624 £ 333.333 5. TAN IB uoie In mcD15 202 2024 Markei Value ai 6th April ?024 Addiiions Disp05als Nei Unwlised InvLStmeni Gain51lLossesl Market Value ai S" April 2025 6,490,217 2.009,192 (2.227,4421 14(16,244} 5.863,595 2.255,981 {2.163.9851 534.624 £ 5.865.723 £ 6,490.217 6. Th¢ Cliarity liag taken advantage of the exeiiiption available not to PTepare Cash Flow Staiernertt& TED PARTIES Th¢TÈ wcre no related party IransaciEons in Ihc year (2024_None).
TFIE NORMAN CO ISSON FOUNDA TION e 10 NO'fES TO T E FINANCIAI. STAT MENTS for the eaT en APRIL 2025 TURF. EVENTS A. F iidin for r se h into and ihe dev ent of a Novel Bra a) Phase I funding agrc¢d 1277.363 0%'er Ihree >'cars- LIlS noiv compleie:_ £230,492 had becn paid by 5th April 2024 £46.871 was paid duriiig Ilie ycar. b) Phase 2- Funding agree(1 £280,000 owcr lh¢ vears tiY)m 1° Augusi 2022-. £0 had been paid b), 51h April 2024. £167,634 was paid durillg the vear. £51.861 ha b¢cn paid since Ilie }'ear end. cl Phase 3- Fiinding approved 2n4 June 2025 10 exiend th¢ prvjeci. £226.000 payable over 3 y¢ais to cornmence ]# January 2026. un Con for nee Li amenl Re B. Fundii for rcsearch h True C lour IBD k.ndeavour al Continudiion of Te%car¢h approv¢d last ycar. £134.496 over two years from l January 2024 £33,143 had been paid by 5rh April 2024. £67,248 wa8 paid during Iheyear. £34.105 has b¢en paid since the )'ear end. C. New Gr tsa rov d in tlie Biolig Projcct- £1 00.000 over lh¢ years lo siarl in Ihe Autumn ot'2025. Progr¥55ive SupranuLlear Palsy Rcsear¢h- £300,000 over Ihrce ycars 10 Sthrl in the Autumn ot'21)25. 8iud) ol-critical IIIIics% PolyeuTopathy/myopatli)' iii cliildren 7 young adulis- £40,486 oiie ot]. payment. Grant paid 3010512025.