2021-07-31-accounts

CONTENTS		PAGE
Report ofthe Trustees
Statement of Financial	Activities
Balance Sheet
Notes to the Accounts
Independent Examiners'	Report to the Trustees	13

						Unrestricted	Funds
						2021	2020
					Note
Income from:
Investments						66,410	79,270
Expenditure on:
Raising funds:
Investment management		charges				12,890	12,865
Charitable activities:
Research grants							1,200,000
Administration costs					5	g,s21)	7,152
Total						(21,410)	(1,220,017)
Net gains on investments:
Realised (losses)/gains		on	im estmeut	assets		49,777	(40,630)
Unreaiised (losses)/gaius			ott invcstmcnt		assets	412 372	(193,698)
						462,149	(234,328)
Nct movcmcnt in funds						507,149	(1,375,075)
Reconciliation offunds:
Total funds brought	fotvvard					1,668,498	3,043,573
Total 1'ands carried forward						2,175,647	1,668,498

		Note		2021	2020
FIXEDASSETS
Investments				3,181,115	2,927,468
CURRENT ASSETS
Debtors		7		2,202	3,490
Cash at bank				20,517	10,586
				22,719	14,076
LESS:CURRENT	LIABILITIES
Creditors: amounts	falling due within
one year		8	248,187		253,046
NET CURRENT LIABILITIES				(225,468)	(238,970)
TOTAL ASSETLESSCURRRENT		LIABILITIES		2,955,647	2,688,498
Creditors: amounts	falling due atter
more than one year		8		780,000	1,020,000
NET ASSETS				2,175,647	1,668,498
FUNDS
Unrestricted general	fund
- Unallocated funds				2,175,647	1,668,498

RELATED PARTY TRANSACTI	RELATED PARTY TRANSACTI	ONS AND TRUSTEES	REMUNERATIO	N
The trustees received no emolumerits		(2020 - But). Expenses	and professional	fees relating to the
four trustees in the year totalled K7,126 (2020 —f5,832). Outstanding balances due to three trustees totalled f6,898(2020 -I6,786).				at 31st July 2021
			2021	2020
INVESTMENT INCOME			I	I
Dividends received			52,259	61,832
Interest received			14,058	17,317
Other interest			9'7	100
Bank interest received			1	21
			66,410	79,270

NOTES TO THE ACCOUNTS	NOTES TO THE ACCOUNTS
YEAR ENDED 31STJULY 2021
					2021	2020
					f
4.	ANALYSIS OFRESEARCH	GIIANTS
	Grants to Royal Brompton ltospital:
	Asmarley Chair, l,ectureship	and	Fellowship	Pomtion		1,200,000
5.	ADMINISTRATIOiV COSTS
	Governance costs
	Trustees' expenses and professional		fees		7,126	5,832
	Independent examiner's fee				1,290	1,260
	Bank charges				104	60
					8,520	7,152
6.	FIXEDASSET INYESTNII'INTS
	Movement in fixed asset investments
	At 1st August 2020				2.927,468	3,356,241
	Additions at cost				391,020	494,011
	Proceeds ofdisposals				(599,522)	(688,456)
	Realised investment gams / (losses)				49,777	(40,630)
	Unrcalised investment gains / (losses)				412,372	(193,698)
	At 31stJuly 2021				3,181,115	2,927,468
	Investments at 31stJuly 2021	comprised:
	Equitms - ntanaged				2,767.839	2,420,342
	Fixed intcrcst securities - managed				384,602	462,507
	Cash held ivithin the invcstmcnt	portfolio			28,674	44,619
	Total				3 181 115	2,927,468
	Histnrical cost at 31st July 2021				2,516,210	2,627,494

		2021	2020
		f	f.
7.	DEBTORS
	Income tax		56
	Dividend income	2,025	3,244
	Interest receivable	177	190
		2,202	3,490
8.	CREDITORS
	Amounts falling due within one year
	Accruals and deferred income	8,187	8,046
	Grants payable	240,000	245,000
		248,187	253,046
	Amounts falling due after more than one year
	Grants payable	780,000	1,020,000

					2021	2020
						f
10.	FINANCIAL INSTRUMENTS
	The carrying amounts of	the charity's
	financial instruments are as follows:
	Financial assets:
	Measured at fair value	through		net
	income/expenditure:
	Fixed asset listed investments	(note 6)			3,181,115	2,927,468
	The net gains / (losses) attributable		to	the
	charity's financial instruments			are
	summarised as follows:
	Net gains / (losses) (including	changes	in
	fair value):
	Financial assets measured	at fair	value
	through net income/expenditure				462,149	(234,32g)