##
##
##
|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)|
##
##
##
##