| Page | |
|---|---|
| Trustees report | 1 - 3 |
| StatementofTrustees responsibilities | 4 |
| Independent auditor's report | 5-7 |
| Statementoffinancial activities | 8-9 |
| Balance sheet | 10 |
| Statementofcash flows | 11 |
| Notes to the financial statements | 12-22 |
21/11/2023
| Current financial year | |||||
|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||
| funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||
| Notes | £ |
£ | £ | £ | |
| Income and endowments from: | |||||
| Investments | 3 | 2,323,228 | - | 2,323,228 | 2,458,113 |
| Other income | 4 | 11,279 | - | 11,279 | 13,095 |
| Total income | 2,334,507 | - | 2,334,507 | 2,471,208 | |
| Expenditureon: | |||||
| Raising funds | 5 | 475,401 | - | 475,401 | 540,110 |
| Charitable activities | 6 | 2,741,707 | - | 2,741,707 | 4,480,883 |
| Total expenditure | 3,217,108 | 3,217,108 | 5,020,993 | ||
| Net gains/(losses)oninvestments | 11 | - | (14,761,575) | (14,761,575) | (8,921,711) |
| Net outgoing resources before transfers | (882,601) | (14,761,575) | (15,644,176) | (11,471,496) | |
| Gross transfers between funds | 1,266,161 | (1,266,161) | |||
| Net movementinfunds | 383,560 | (16,027,736) | (15,644,176) | (11,471,496) | |
| Fundbalances at 6 April 2022 | (13,109,128) | 176,967,881 | 163,858,753 | 175,330,249 | |
| Fund balancesat5 April 2023 | (12,725,568) | 160,940,145 | 148,214,577 | 163,858,753 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ | £ |
|
| Fixed assets | |||||
| Investments | 14 | 160,940,145 | 176,967,881 | ||
| Current assets | |||||
| Cash at bank andinhand | 1,018,484 | 1,144,536 | |||
| Creditors: amounts falling due within one | |||||
| year | 15 | (10,344,052) | (10,853,664) | ||
| Net current liabilities | (9,325,568) | (9,709,128) | |||
| Total assets less current liabilities | 151,614,577 | 167,258,753 | |||
| Creditors: amounts falling due after more | |||||
| than one year | 16 | (3,400,000) | (3,400,000) | ||
| Net assets | 148,214,577 | 163,858,753 | |||
| Capital funds | |||||
| General endowment funds | 17 | 160,940,145 | 176,967,881 | ||
| Income funds | |||||
| Unrestricted funds | (12,725,568) | (13,109,128) | |||
| 148,214,577 | 163,858,753 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ | £ |
|
| Cash flows from operating activities | |||||
| Cash absorbed by operations | 20 | (3,715,441) | (3,021,278) | ||
| Investing activities | |||||
| Purchaseofinvestments | (6,369,613) | (33,631,125) | |||
| Proceeds from disposalofinvestments | 7,635,774 | 33,403,685 | |||
| Investment income received | 2,323,228 | 2,458,113 | |||
| Net cash generated from investing | |||||
| activities | 3,589,389 | 2,230,673 | |||
| Net cash usedinfinancing activities | |||||
| Net decreaseincash and cash equivalents | (126,052) | (790,605) | |||
| Cash and cash equivalents at beginningofyear | 1,144,536 | 1,935,141 | |||
| Cash and cash equivalentsatendofyear | 1,018,484 | 1,144,536 |
| 3 | Investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Dividends | 2,245,865 | 2,456,865 | |
| Income tax reclaim | 15,027 | 1,290 | |
| Interest | 62,336 | (42) | |
| - | |||
| 2,323,228 | 2,458,113 | ||
| -- | |||
| 4 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 11,279 | 13,095 | |
| -- | |||
| 5 | Raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Property maintenance and insurance | 1,090 | 1,031 | |
| Investment management | 474,311 | 539,079 | |
| 475,401 | 540,110 |
| 6 | Charitable activities | ||
|---|---|---|---|
| Total | Total | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Staff costs Governance costs Garden maintenance - Lincoln College |
37,422 30,583 9,489 |
34,227 20,605 34,038 |
|
| Grant fundingofactivities (see note7) | 77,494 2,664,213 |
88,870 4,392,013 |
|
| 7 | Grants payable | 2,741,707 | 4,480,883 -- |
| Grants Awarded |
Grants Awarded |
||
| 2023 | 2022 | ||
| Grants | £ 2,664,213 |
£ 4,392,013 |
|
| 2023 | 2022 | ||
| 213 Contribution to nanobodies 290 Molecular AnalysisofNon-apoptotic Caspase functions 291Genome stability and human disease 292 Salary support - Dunn School 293 Salary support - Dunn School 294 OxfordEPAstudentships (2022-26) 295 Flow cytometry core facility - Dunn School 296 Salary support - Dunn School 297 Suiteofelectron microscopes 298 Salary support - Dunn School 299 Start up funding for three professorships - Dunn School 300 Start up funding for one professorship - Dunn School 301Start up funding for one professorship - Dunn School 302 Support for summer research placements 303 Study Skills Advisor - Lincoln College 304 Statutory Professorship Establishment - Dunn School 305 Start up - Anthony Roberts - Dunn School 306 Start up - Mathew Stracy - Dunn School 307 Quantitative imagingincell biology - Dunn School 308 Studentships for two years - Dunn School |
£ - - - - - - 49,711 - - - - 25,000 1,000,000 250,000 100,000 89,720 1,186,344 2,700,775 |
£ 50,000 139,472 197,900 165,630 660,039 469,733 457,337 93,665 500,000 91,151 1,500,000 200,000 150,000 12,500 4,687,427 |
| Adjustments to the grants during the year wereasfollows: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| 213 Support Grant - Dunn School | (22) | |
| 221Purchaseofconfocal microscope | (50,000) | |
| 223 Dunn School Histology Department | (512) | |
| 250 UpgradeAVprovision | (13,277) | |
| 260 Funding for Fournier | (235) | |
| 261Postdoc extension awards | (13,785) | |
| 264 Symposium Shanghai | (8,754) | |
| 288 Support grant - Dunn School | (28,444) | |
| 289 Salary support - Dunn School | (180,385) | |
| 268 Postdoc funding | (708) | |
| 277 Infection & Vaccination IRTG | (5,000) | |
| 280 Salary and running cost | (989) | |
| 282 Salary for a postdo | (561) | |
| 283 Salary underwrite for two years | (29,304) | |
| -- | --- | |
| (36,562) | (295,414) | |
| Governance costs | ||
| 2023 | 2022 | |
| £ | £ | |
| Other expenses | 3,308 | 9,766 |
| Trustees' insurance | 1,031 | 1,031 |
| Office insurance | 330 | 482 |
| Legal and professional fees | 13,578 | 1,064 |
| Bank charges | 74 | 122 |
| Auditors' Remuneration | 8,564 | 8,048 |
| Trustees' expenses | 3,698 | 92 |
| --- | ||
| 30,583 | 20,605 | |
| - |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trustees' Expenses | 3,698 | 92 |
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Trust administrator | ||
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 26,505 | 21,584 |
| Social security costs | 7,258 | 8,593 |
| Other pension costs | 3,659 37,422 |
4,050 34,227 |
| Endowment funds general |
Endowment funds general |
|---|---|
| 2023 | 2022 |
| £ | £ |
| (14,761,575) | (8,921,711) |
| Tangible fixed assets | |
|---|---|
| Freehold property | |
| £ | |
| Cost | |
| At 6 April 2022 | 151,267 |
| At 5 April 2023 | 151,267 |
| Depreciationandimpairment | |
| At 6 April 2022 | 151,267 |
| --- | |
| At 5 April 2023 | 151,267 |
| Carrying amount | |
| At 5 April 2023 | |
| At 5 April 2022 |
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 6 April 2022 | 176,967,881 | |
| Additions | 6,369,613 | |
| Valuation changes | (14,761,575) | |
| Disposals | (7,635,774) | |
| At 5 April 2023 | 160,940,145 | |
| Carrying amount | ||
| At 05 April 2023 | 160,940,145 | |
| At 05 April 2022 | 176,967,881 | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Grants payable | 10,242,769 | 10,741,660 |
| Other creditors | 101,283 | 112,004 |
| 10,344,052 | 10,853,664 |
| Movementinfunds | Movementinfunds | Movement | infunds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Revaluations | Balance at | Incoming | Resources | Transfers | Revaluations | Balance at | |
| &April 2021 | resources | expended | gains and | 6 April 2022 | resources | expended | gains and | 5April 2023 | |||
| losses | losses | ||||||||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | |
| Expendable | |||||||||||
| endowment | 185,662,152 | 227,440 | (8,921,711) | 176,967,881 | - | (1,266,161) | (14,761,575) | 160,940,145 | |||
| 185,662,152 | - | 227,440 | (8,921,711) | 176,967,881 | - | - | (1,266,161) | (14,761,575) | 160,940,145 |
| Unrestricted | Endowment | Total | Unrestricted | Endowment | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Fund balances at 5 | ||||||
| April 2023 are | ||||||
| representedby: | ||||||
| Investments | - | 160,940,145 | 160,940,145 | - | 176,967,881 | 176,967,881 |
| Current assets/(liabilities) | (9,325,568) | - |
(9,325,568) | (9,709,128) |
- |
(9,709,128) |
| Long term liabilities | (3,400,000) | - |
(3,400,000) | (3,400,000) |
- |
(3,400,000) |
| (12,725,568) | 160,940,145 | 148,214,577 | (13,109,128) | 176,967,881 | 163,858,753 |
| Cashgenerated from operations | 2023 | 2022 |
| £ | £ | |
| Deficit for the year | (15,644,176) | (11,471,496) |
| Adjustments for: | ||
| Investment income recognised in statement of financial activities | (2,323,228) | (2,458,113) |
| Fair value gains and lossesoninvestments | 14,761,575 | 8,921,711 |
| Movementsinworking capital: | ||
| (lncrease)/decreaseindebtors | - | 2,502 |
| (Decrease)/increaseincreditors | (509,612) | 1,984,118 |
| Cash absorbedbyoperations | (3,715,441) | (3,021,278) |