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||**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|
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21/11/2023
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|**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|
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||||**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|
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||||**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 used**in**financing 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|
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|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|
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|**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|£
-
-
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-
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|
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|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|
|||-|
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||**2023**|2022|
|---|---|---|
||£|£|
|Trustees' Expenses|3,698|92|
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||**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|
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|**Endowment**
**funds**
**general**|Endowment
funds
general|
|---|---|
|**2023**|2022|
|£|£|
|(14,761,575)|(8,921,711)|
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|**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||
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|||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|
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||||**Movementinfunds**|**Movementinfunds**||||**Movement**|in**funds**|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||**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|
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||**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|
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|---|---|---|
|**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)|