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





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||||||Unrestricted|Funds||
|---|---|---|---|---|---|---|---|
||||||2023|2022||
|||||Note|||f|
|Income from:||||||||
|Investments|||||75,093||81,408|
|Expenditure<br>on:||||||||
|Raising funds:||||||||
|Investment<br>management||charges|||11,762|13,080||
|Charitable<br>activities:||||||||
|Research grants||||4||||
|Administration<br>costs||||5|9,808|9,279||
|Total|||||(21,570)||(22,359)|
|Net gains on investments:||||||||
|Realised (losses)/gains||on investment|assets||(13,125)|(33,822)||
|Unrealised<br>(losses)/gains||on investment||assets|(42,085)|(37,022)||
||||||(55,210)||(70,844)|
|Net movement<br>in funds|||||(1,687)||(11,795)|
|Reconciliation offunds:||||||||
|Total funds brought|forward||||2,163,852||2,175,647|
|Total funds carried forward|||||2,162,165||2,163,852|





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|||Note||2023|2022|
|---|---|---|---|---|---|
|FIXEDASSETS||||||
|Investments||||2,695,419|2,871,450|
|CURRENT ASSETS||||||
|Debtors||||299|63,792|
|Cash at bank||||14,750|17,866|
|||||15,049|81,658|
|LESS:CURRENT|LIABILITIES|||||
|Creditors: amounts|falling due within|||||
|one year||8|248,303||249,256|
|NET CURRENT LIABILITIES||||(233,254)|(167,598)|
|TOTAL ASSETLESS CURRRENT||LIABILITIES||2,462,165|2,703,852|
|Creditors: amounts|falling due after|||||
|more than one year||8||300,000|540,000|
|NET ASSETS||||2,162,165|2,163,852|
|FUNDS||||||
|Unrestricted<br>general|fund|||||
|-Unallocated<br>funds||||2,162,165|2,163,852|





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|||2023|2022|
|---|---|---|---|
|3.|INVESTMENT INCOME|f|f.|
||Dividends<br>received|57,795|67,976|
||Interest received|15,725|13,393|
||Other interest|1,390|27|
||Bank interest received|183|12|
|||75,093|81,408|





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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|4.|ANALYSIS OF RESEARCH|GRANTS||||||
||Grants to Royal Brompton Hospital:|||||||
||Asmarley<br>Chair, Lectureship|and||Fellowship|Position|||
|5.|ADMINISTRATION<br>COSTS|||||||
||Governance<br>costs|||||||
||Trustees'<br>expenses and professional|||fees||8,423|7,860|
||Independent<br>examiner's<br>fee|||||1,320|1,320|
||Bank charges|||||66|99|
|||||||9,808|9,279|
|6.|FIXEDASSETINVESTMENTS|||||||
||Movement<br>in fixed asset investments|||||||
||At 1stAugust 2022|||||2,871,450|3,181,115|
||Additions<br>at cost|||||364,190|345,723|
||Proceeds ofdisposals|||||(485,011)|(584,544)|
||Realised investment<br>(losses) / gains|||||(13,125)|(33,822)|
||Unrealised<br>investment<br>(losses) /||gains|||(42,085)|(37,022)|
||At 31stJuly 2023|||||2,695,419|2,871,450|
||Investments<br>at 31stJuly 2023||comprised:|||||
||Equities<br>—managed|||||2,400,496|2,441,794|
||Fixed interest securities - managed|||||191,701|307,338|
||Cash held within the investment||portfolio|||103,222|122,318|
||Total|||||2,695,419|2,871,450|
||Historical cost at 31stJuly 2023|||||2,115,022|2,324,438|





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|||2023|2022|
|---|---|---|---|
||||f.|
|7.|DEBTORS|||
||Interest receivable|299|238|
||Funds receivable||63,554|
|||299|63,792|
|8.|CREDITORS|||
||Amounts<br>falling due within one year|||
||Accruals<br>and deferred income|8,303|9,256|
||Grants payable|240,000|240,000|
|||248,303|249,256|
||Amounts<br>falhng due after more than one year|||
||Grants payable|300,000|540,000|



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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||||f.|
|10.|FINANCIAL INSTRUMENTS|||||||
||The<br>canying<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)|||2,695,419|2,871,450|
||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|||||(55,210)|(70,844)|





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