Scottish Charity Number (SC050838)
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MEMORIAL TRUST
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The Tricia Cohen Memorial Trust
Report and Financial Statements For the year ended 3" May 2025
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itl Be MEMORIAL TRUST
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|The|Tricia|Cohen|Memorial|Trust|
|Pages|
|Contact|details,|Trustees|and|Professional|Advisors|3|
|Report|of the|Trustees|4-8|
|Report|of the|Independent|Examiner|9|
|Receipts|and|Payment|Account|10|
|Statement|of Balances|11|
|Notes|to the|Financial|Statements|12-13|
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rinMEMORIAL [Chew] | RUS SS
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The Tricia Cohen Memorial Trust
Charity information
Scottish Charity $C050838 Number Address: Inverbay Bramblings Invergowrie Dundee
Postcode DD2 5DQ Website: https://temt.org.uk/ - ee Joint Scientific Advisory Committee (“JSAC”)
independent Examiner PO Henderson Loggie LLP Chartered Accountants The Vision Building 20 Greenmarket Dundee DD1 4QB Investment Managers Thorntons Investment Management Ltd Whitehall House 33 Yeaman Shore Dundee DD1 4BJ
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YrMEMORIAL[Chew] I RUST@
Objectives and activities
The Tricia Cohen Memorial Trust was established in memory of the late Professor Tricia Cohen, who conducted her research programme at the University of Dundee in the Department of Biochemistry and MRC Protein Phosphorylation Unit for 48 years between 1971 and 2019. Tricia’s key research contributions were to determine the structures of genes coding for protein phosphatases, a family of enzymes essential for the survival and function of human cells. She also discovered several previously unknown protein phosphatases and defined their functional roles in cells. The first woman to lead a research team in the Biochemistry Department at the University of Dundee, her work had a significant impact globally.
Along with her husband and colcaque Tricia was appointed one of the two founding Principal Investigators of the Medical Research Council Protein Phosphorylation Unit (MRC-PPU) at the University of Dundee, where she served as Head of Molecular Biology from 1990 to 2010.
The Tricia Cohen Memorial Trust was constituted by a Deed of Trust in November 2020 to fund biomedical research until Tricia Cohen’s 100th birthday in 2044. The Trust was awarded charitable status by OSCR in March 2021 and registered with HMRC for gift aid in May 2021. Since its inception, the Trust has received significant donations worldwide towards its goal of establishing an endowment fund in Professor Tricia Cohen’s memory, which will support six Prize Studentships from 2020 to 2044.
The Trust is working closely with the University of Dundee and has awarded two Tricia Cohen Prize Studentships: one to the School of Life Sciences and one to the School of Medicine.
- Professor Tricia Cohen - Professor Tricia Cohen giving alecture 4 | Br
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mt & MEMORIAL TRUST
6
Structure, governance and management
Constituti
The Trust was constituted by a Deed of Trust by| November 2020.
The Trust Deed gives the Trustees discretion regarding payment or application of capital or income of the Trust for the following purposes:
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To advance the education of students undertaking Biomedical research or by providing facilities for educational purposes relating to the study or practice of Biomedical research.
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To award research studentships, scholarships, grants, maintenance or travel allowances or any other awards to students, prospective students, undergraduates or graduates of any UK College or University for the purpose of furthering their education and/or their Biomedical research.
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To award grants to undertake Biomedical research and to publish the results of research for the benefit of the public.
In furtherance of the Trust’s Charitable Objects the Trustees seek:
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i. To promote education, training and skills development in Biomedical research or any associated discipline.
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li. | To promote excellence or proficiency in the teaching of Biomedical research.
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iii. |To promote and provide financial assistance to students in need of financial assistance to enable their courses of study in Biomedical research to be undertaken.
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iv. To provide education and training in Biomedical research and, without prejudice to the foregoing, in promoting public lectures, demonstrations or exhibitions relating to Biomedical research.
The Trust Deed provides that the Trust shall terminate on 3 May 2044, being Professor Tricia Cohen’s 100" Birthday.
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MEMORIAL TRUST
Trustee recruitment and appointment
Board of Trustees
The Trustees at the date of this report are shown on page 3.
Joint Scientific Advisory Committee
The Joint Scientific Advisory Committee (“JSAC”) was established in 2021 as a scientific advisory body comprising academics and representatives from the Tricia Cohen Memorial Trust (“the Trust”) and the University of Dundee (“the University”). The JSAC serves as a key governance framework implemented by both the Trust and the University to oversee the management of funds donated by the Trust to the University and donations made directly to the University in memory of Professor Tricia Cohen. The JSAC is also tasked with overseeing the recruitment and training of students.
«ci: the JSAC; the committee meets at least annually. Details of the JSAC membership at the date of this report are shown on page 3.
Achievements and performance
The Trust has recruited two high-calibre PhD students
a 2: selected as the First Tricia Cohen Prize Student in early 2022 from a strong field of candidates following a successful recruitment process. Pritha relocated from Kolkata in September 2022 to commence her Prize PhD studentship at the School of Life Sciences ("SLS") at the University of Dundee (“the University").
P has continued to make good progress in the third year of her PhD completion of her Masters-to-PhD transfer viva. Individual members of the JSAC have continued to provide vith support and mentoring.
In January 2024, after interviews with a strong shortlist of candidates, the Trustees appointeda :; the Second Tricia Cohen Prize Student [I commenced her studentship on 1 September 2024 under the supervision of Et the University of Dundee fails from Scotland and was raised and educated in Grantown-on-Spey. She graduated with first-class honours from the University of Dundee in June 2024.
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MLMORIAL TRUST
Financial review
The financial results of the Trust are set out on page 10 in the Statement of Receipts and Payments.
The Trust reports a net surplus in receipts for the year ending 3rd May 2025 of £2,524 (2024: £964 deficit). A substantial portion of the receipts was utilised to further establish the expendable endowment fund and support charitable activities associated with the Tricia Cohen Memorial Prize Studentships.
Statement of the Trust’s policy on reserves
Restricted fund
In April 2022, the Trust received a grant from a charitable trust towards funding the First Tricia Cohen Prize Studentship at the University of Dundee.
Expendable endowment fund
Expendable endowment funds were originated from donations, primarily from the late Professor Tricia Cohen's family, friends, and colleagues, to establish an expendable endowment to fund future Prize Scholarships until Professor Tricia Cohen's 100th Birthday in 2044.
Unrestricted general fund
Unrestricted funds cover support and governance costs equivalent to at least six months’ expenditure.
Donated facilities and services
equDur i valentng the yooto £4, n consultancy202:fees (2024: £5,810). services to operate the Trust,
Future plans
The Trust intends to commence the recruitment of a third PhD student in September 2025, who will take up their PhD studentship in September 2026.
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MEMORIAL TRUST
Declaration
The report and financial statements were approved by the Trustees on 22 July 2025 and were signed on their behalf by:
Trustee and Treasurer
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MEMORIAL TRUST
The Tricia Cohen Memorial Trust
Report of the Independent Examiner to the Trustees of The Tricia Cohen Memorial Trust
| report on the financial statements of The Tricia Cohen Memorial Trust for the period ended 3 May 2025 which are set out on pages 10 to 13.
This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion set out below and for no other purpose. To the fullest extent permitted by law | do not accept or assume responsibility to anyone other than the trustees, as a body, for my work or for this report.
Respective responsibilities of the Trustees and Independent Examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, | do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
For and on benalt of Henderson Loggie | Chartered Accountants
The Vision Building 20 Greenmarket Dundee DD1 4QB 17" December 2025
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The Tricia Cohen Memorial Trust
Statement of Receipt and Payments for the year ended 3rd May 2025
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|---|---|---|---|---|---|---|---|---|
|Expendable|
|Unrestricted|Restricted|endowment|TOTAL|TOTAL|
|funds|funds|funds|2025|2024|
|Notes|£|£|£|£|£|
|Receipts|
|Donations|2|2,400|-|11,886|14,286|29,825|
|Investment|income|25|1,156|7,316|8,497|7,197|
|Gift|Aid|600|-|3,006|3,606|3,965|
|Sub-total|3,025|1,156|22,208|26,389|40,987|
|Receipts|from|asset|and|
|investment|sales|
|Proceeds|from sale|of investments|-|-|20,083|20,083|69,680|
|Total|receipts|3,025|1,156|42,291|46,472|110,667|
|Payments|
|Investment|management|costs|3|-|46|887|933|909|
|Payments|relating|directly|to|
|charitable|activities|4|-|-|-|-|652|
|Grants|and|donations|4|-|-|1,000|1,000|10,000|
|Governance|costs|4|1,935|-|-|1,935|2,038|
|Sub-total|1,935|46|1,887|3,868|13,599|
|Payments|relating to asset|
|and|investment|movements|
|Purchase|of investments|-|-|40,080|40,080|98,032|
|Total|payments|1,935|46|41,967|43,948|111,631|
|Net|receipts|/|(payments)|1,090|1,110|324|2,524|(964)|
|Transfer|(from)|/ to funds|-|-|-|-|-|
|(Deficit)|/ surplus|for the year|1,090|1,110|324|2,524|(964)|
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The Tricia Cohen Memorial Trust
Statement of Balances as at 3rd May 2025
| Expendable | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | endowment | TOTAL | TOTAL | |
| funds | funds | funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| Cash on deposit and on hand | |||||
| Opening balance | 4,073 | 31,472 | 12,780 | 48,325 | 49,289 |
| (Deficit) / surplus for the year | 1,090 | 1,110 | 324 | 2,524 | (964) |
| Closingbalance | 5,163 | 32,582 | 13,104 | 50,849 | 48,325 |
Investments
| As valued at 3rd May2025 | - | ~ | 150,530 | 150,530 | 129,955 |
|---|---|---|---|---|---|
| Other assets | |||||
| Debtors | - | - | 1,280 | 1,280 | . |
| Liabilities | |||||
| Accruals | 1,325 | - | - | 1,325 | 1,260 |
| Reserves | |||||
| Opening balance | 2,813 | 31,472 | 142,735 | 177,020 | 150,396 |
| (Deficit) / surplus for the year | 1,025 | 1,110 | 22,179 | 24,314 | 26,624 |
| Closingbalance | 3,838 | 32,582 | 164,914 | 201,334 | 177,020 |
The notes on pages 12-13 form part of these financial statements.
These financial statements were approved by the Trustees on 22" July 2025 and signed on their behalf by:
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Hl B@ MEMORIAL IRUST
The Tricia Cohen Memorial Trust
Notes to the Financial Statements for the year ended 3rd May 2025
1. Accounting principles
Basis of preparation
The Accounts are prepared in accordance with the Charities Accounts (Scotland) Regulations (2006) as amended.
Going Concern
When approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2. Donations
| Expendable | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | endowment | Total | Total | |
| funds | funds | funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| Individuals | - | - | 11,886 | 11,886 | 22,792 |
| Trustees | 2,400 | - | - | 2,400 | 3,949 |
| Charities | - | - | - | ~ | 3,084 |
| Total | 2,400 | - | 11,886 | 14,286 | 29,825 |
| 3. Management offunds | |||||
| Expendable | |||||
| Unrestricted funds |
Restricted funds |
§endowment funds |
Total 2025 |
Total 2024 |
|
| £ | £ | £ | £ | £ | |
| Thorntons Investment | |||||
| ManagementLimited | - | 46 | 887 | 933 | 909 |
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YrMEMORIALCeTRUS]
The Tricia Cohen Memorial Trust
Notes to the Financial Statements for the year ended 3rd May 2025 (continued)
4. Charitable activities
| 4. Charitable activities | |||||
|---|---|---|---|---|---|
| Expendable | |||||
| Unrestricted funds |
Restricted funds |
endowment funds |
Total 2025 |
Total 2024 |
|
| £ | £ | £ | £ | £ | |
| Grants and donations | - | - | 1,000 | 1,000 | 10,000 |
| Prize studentship expenses | - | - | ~ | - | 652 |
| Governance costs | |||||
| Legal costs | - | - | - | - | 35 |
| Independent Examiner's | |||||
| remuneration | 1,260 | - | - | 1,260 | 1,020 |
| Other | 675 | - | - | 675 | 983 |
| Total | 1,935 | ” | 1,000 | 2,935 | 12,690 |
During the year, the Trust made grant payments to The University of Dundee Schoo! of Life Sciences, totalling £1,000 (2024: £10,000).
The Trust has no employees.
5. Trustee remuneration and expenses
No trustees received any remuneration. During the reporting period, the following trustee expenses were paid to one Trustee for reimbursement of charitable expenditure borne by the Treasurer:
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Number
of trustees £
Reimbursement of support costs 1 108
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6. Transactions with trustees and connected persons
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Transaction Balance outstanding at
Nature of relationship Nature of transaction amount (£) period end (£)
Trustee Donation(s) to the Trust 2,000 -
Trustee Donation(s) to the Trust 400 -
2,400
13 S
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