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|CONTENTS|||PAGE|
|---|---|---|---|
|Report ofthe|Trustees|||
|Statement<br>of|Financial|Activities||
|Balance Sheet||||
|Notes to the Accounts||||
|Independent|Examiners'|Report to the Trustees|13|





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||||||Unrestricted|Funds|
|---|---|---|---|---|---|---|
||||||2022|2021|
|||||Note|||
|Income from:|||||||
|Investments|||||81,408|66,410|
|Expenditure<br>on:|||||||
|Raising funds:|||||||
|Investment<br>management||charges|||13,080|12,890|
|Charitable activities:|||||||
|Research grants|||||||
|Administration<br>costs|||||9,279|8,520|
|Total|||||(22,359)|(21,410)|
|Net gains on investments:|||||||
|Realised (losses)/gains||on|investment|assets|(33,822)|49,777|
|Unrealised<br>(losses)/gains|||on investment|assets|(37,022)|412,372|
||||||(70,844)|462,149|
|Net movement<br>in funds|||||(11,795)|507,149|
|Reconciliation offunds:|||||||
|Total funds brought|forward||||2,175,647|1,668,498|
|Total funds carried|forward||||2,163,852|2,175,647|





|||Note||2022||2021|
|---|---|---|---|---|---|---|
|FIXEDASSETS|||||||
|Investments||||2,871,450||3,181,115|
|CURRENT ASSETS|||||||
|Debtors|||63,792|||2,202|
|Cash at bank|||17,866|||20,517|
||||81,658|||22,719|
|LESS:CURRENT|LIABILITIES||||||
|Creditors: amounts|falling due within||||||
|one year||8|249,256|||248,187|
|NET CURRENT LIABILITIES||||(167,598}||(225,468}|
|TOTAL ASSETLESSCURRRENT||LIABILITIES||2,703,852||2,955,647|
|Creditors: amounts|falling due after||||||
|more than|one year|8|||540,000|780,000|
|NET ASSETS||||2,|163,852|2,175,647|
|FUNDS|||||||
|Unrestricted<br>general|fund||||||
|- Unallocated<br>funds||||2,163,852||2,175,647|





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|||2022|2021|
|---|---|---|---|
|3.|INVESTMENT INCOME||E|
||Dividends<br>received|67,976|52,259|
||Interest received|13,393|14,058|
||Other interest|27|92|
||Bank interest received|12|1|
|||81,408|66,410|





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||||||2022|2021|
|---|---|---|---|---|---|---|
|4.|ANALYSIS OFRESEARCH|GRANTS|||||
||Grants to Royal Brompton Hospital:||||||
||Asmarley<br>Chair, Lectureship|and|Fellowship|Position|||
|5.|ADMINISTRATION<br>COSTS||||||
||Governance<br>costs||||||
||Trustees' expenses and professional||fees||7,860|7,126|
||Independent<br>examiner's<br>fee||||1,320|1,290|
||Bank charges||||99|104|
||||||9,279|8,520|
|6.|FIXEDASSETINVESTMENTS||||||
||Movement<br>in fixed asset investments||||||
||At 1stAugust 2021||||3,181,115|2,927,468|
||Additions<br>at cost||||345,723|391,020|
||Proceeds ofdisposals||||(584,544)|(599,522)|
||Realised investment<br>(losses) / gains||||(33,822)|49,777|
||Unrealised<br>investment<br>(losses) /|gains|||(37,022)|412,372|
||At 31stJuly 2022||||2,871,450|3,181,115|
||Investments<br>at31stJuly 2022|comprised:|||||
||Equities - managed||||2,441,794|2,767,839|
||Fixed interest securities<br>-managed||||307,338|384,602|
||Cash held within the investment|portfolio|||122,318|28,674|
||Total||||2,871,450|3,181,115|
||Historical cost at 31stJuly 2022||||2,324,438|2,516,210|





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|||2022|2021|
|---|---|---|---|
|7.|DEBTORS|||
||Dividend<br>income||2,025|
||Interest receivable|238|177|
||Funds receivable|63,554||
|||63,792|2,202|
|S.|CREDITORS|||
||Amounts<br>falling due within one year|||
||Accruals and deferred income|9,256|8,187|
||Grants payable|240,000|240,000|
|||249,256|248,187|
||Amounts<br>falling due after more than one year|||
||Grants payable|540,000|780,000|



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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|10.|FINANCIAL INSTRUMENTS|||||||
||The<br>carrying<br>amounts<br>of|the|charity's|||||
||financial<br>instruments<br>are as follows:|||||||
||Financial assets:|||||||
||Measured<br>at<br>fair<br>value|through|||net|||
||income/expenditure:|||||||
||Fixed asset listed investments|(note|6)|||2,871,450|3,181,115|
||The net (losses)<br>/ gains<br>attributable|||to|the|||
||charity's<br>financial<br>instruments||||are|||
||summarised<br>as follows:|||||||
||Net (losses) / gains (including|changes||in||||
||fair value):|||||||
||Financial<br>assets<br>measured|at<br>fair||value||||
||through<br>net income/expenditure|||||(70,844)|462,149|





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