TRES CANTOS OPEN LAB FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that the charity holds unrestricted reserves of £2,884,259, which is below the implied target of covering approximately £500,000 in annual running costs plus future grants, although the directors note the current level is higher than needed for committed projects. The charity reported a net deficit of £794,247 for the year, resulting in a decrease in net assets from £3,678,506 to £2,884,259. Despite the deficit, the directors confirm the charity is a going concern with sufficient cash resources to cover projects for the next five years.
What the accounts disclose
“The Directors set a target to have a level of free reserves to be able to fund future grants and meet the general running costs, which are usually an amount of circa £500k per year.” — page 8
“In the year Glaxo Group Limited provided £454,901 (2022: £305,168) of donated services to the Charity in the form of staff time spent on TCOLF activities.” — page 25
Corporate structure
- Registered company of the charity Companies House 07301222
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Kenneth Duncan
- PROFESSOR ALAN HUTCHINSON FAIRLAMB CBE
- Professor Carl Francis Nathan
- Steven Sheldon
- Valerie Mizrahi
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £952k | £1.8m |
| 31/12/2023 | £737k | £1.5m |
| 31/12/2022 | £343k | £2.4m |
| 31/12/2021 | £5.3m | £1.3m |
| 31/12/2020 | £324k | £2.6m |
Common questions
Is TRES CANTOS OPEN LAB FOUNDATION financially healthy?
The accounts state that the charity holds unrestricted reserves of £2,884,259, which is below the implied target of covering approximately £500,000 in annual running costs plus future grants, although the directors note the current level is higher than needed for committed projects. The charity reported a net deficit of £794,247 for the year, resulting in a decrease in net assets from £3,678,506 to £2,884,259. Despite the deficit, the directors confirm the charity is a going concern with sufficient cash resources to cover projects for the next five years. Its FY2023 accounts were audited by RSM UK Audit LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE CHILDREN'S INVESTMENT FUND FOUNDATION (UK) | 1 | £17.9m |
| THE VIRGIN FOUNDATION | 1 | £2.0m |
| THE SEQUOIA TRUST | 1 | £775k |
| JUVENILE DIABETES RESEARCH FOUNDATION LIMITED | 1 | £38k |
| THE LEAGUE OF FRIENDS TO THE ROBERT JONES & AGNES HUNT ORTHOPAEDIC HOSPITAL | 1 | £24k |
| THE OAKDALE TRUST | 1 | £2k |