Charlty I. 11237Q) THE ANNErr CHARrrABLE TRUST REPORT AND UNAUDrrEO FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31ST DECEMBER 2023
Th¢ Annett Charllth TWI1 Reference wrfl 4thilnlstratlve dall$ for the yw •nd•d 31st (leCeM 2023 Charlty number 1123Th1 Prlndpal offke BA12HQ Trustees of th15 repNt were a5 foilvAs: J J Thr1, DL (Cha6mwi) AMsYC Plrs E M Evans Mrs N Fox CIF Bank Ltd 25 KSngs Hlll Avenu2 KI Pllii West Maulrvd t, IIE19 4TA Sollcltors Bath &41 2TrKI 10 sqre Brtrtd BS141 Halnes Watts Chart knltants Bath HLKtse Bath Street BrfstrA BS16HL
Th• Ann Charftalkn Trust Reptyt of the Trustees for th• yw ended 31st Decents 2023 The Trustees pret thelr rep(rt the flnandal statements of the charlty for the year ended 315t December 2023. The Tntee5 have adcyted the pr(vts1$ of ACC(tIng and Rewtkng by Charltle5: Statement of ReC1mended prtICe appikAe to tharities prew¥ig their aCcOts in accordaKe wlth the FinancTal Rep(xtlng Standard wIlcal in the LIK ld Rewbiic of Irel IFRS 1021 leffectlve 1 Jarwary 20191. The Amett CharlLible Tnt was ccffirtituted a trwt deed dated 23rd May 21J)3 urthr dlretilon of the Will of Margaret tknrothy hmnett vlt dled C the 28th PA¥th 21K13. The TnJ5t doE5 not actively ldraISe and seeks to ctInUe the thritable w(¥k a5 dE5ired lry the TneeS thrgh the investment of its existlng reSrt¢S. The Trustees who have wved thrryhrt the year and sfrKe the year end are set (xrt page 1. Trustees are appointed by the board of TrLtstees arnl may serve wltlthJrt IlmltatlM cther than as knptssed by Law. Tntstees are inthKted by the extstthg Tntstees ènd the predUre includes knpartlng knchvledge of the hiStY of the charlty. fts ccrfstltutkn Jfng èn understanding of Its trust deed and other deeds and diuments. the chariws (t•Jects and the Trustees. current poilcles. The Trustees meet twice per annwn. and the day to day admIntstratic of the charlty Is delegated to the Secretary. AU Tree5 glve of their time freely and nD trustee remLmeratiDn was pald In the year. Ltsiis of any trustee expen and related party trKactlcrts are dlsclc6ed thln the notes to the flnanaal statements. Trustees a rewlred to dfsdose all relevant Interests and regtster them wtth the Secretary and. in acardance wlth the Trust's pAIcyi thdraw from decIsiu wthere a c¢mfikt of Interest artses. Current related party transacikffis are disclosed in Note 8 to the fInda1 statanents. The Trustees have cty)sidered the major risks vthich the charlty faces and ClfIrM that systwns have been establtshed to manage those Tirths. The Trustees C(SIder that the variability of Investment return on the follO ciffistitutes the ch¥tys majtr flwKlal risk and vdatility In the global stcKk market has demcffistrated thls recent years. H¢J¥ever. the TnJ5tees regularly revlvrt the perfornwKe of the ptytf¢Akn and that of the trbve5tment manager to ensure that the total return of the mfoth) ts in lkne with awarabie kndKes. Objectlves and actmd The ¢)e¢l$ of the tharity are to pay appty the knc(#ne and capltal of the trust fund to suth tharitabie organisations or gjch other general tharitable purposes as the Tru5tee5 in their discreti1 think fit but having particular regards fly ¢haritie5 invclyed health care. The Ttee5 ccffiflnn that theg have referred to the guidance contained In the Charlty clmISs'S general swidano rm pthiic benefit ¥rtn rle+9 the charltys ayns ald L)Jectives and In piannlng future aCtknt and Settg grant making pclicy for the year. The tharity carries ujt its objects by Invltlng appli¢atityts f(Y fwding fr brth indivithais ld charitable CanIsatIOns. SupFMXt is focussed M the l¢al area. Swth West of England. for general pwposes but the Trustees w(xJld C)ller. f(r medical research purpffae5i the vthoie nation. The Trustees were pleased to Sup tharlLibie institutlcffis and indlvthais during the year Ilne wlth the tharity5 JeCtiVeS.
Th• Ann•tt Ch•rhabl8 Trn•t Repwt of the Trust••s for the yex •nd•d 31st Decents 2023 There are no restri¢ti(y)s the charws p(W4er to Invest. The Investmt strategy Is set by the Trustee5 for a perlod of three years and takes acc(xmt of recent thmand frA fd5 and the quallty of the grant applicati(5. Tl Trustees conslder the requirements. capTtal grant funthng requlrements, the risk wofiie arKI the InVeStt managerfs of the market prospects kn the Med1 tenn. This strategy ts set wlthfn an tr[1 pSlcy tthkh ststes that the trurt ld Is to be Invested to ctltain an annual Kr&ise In the value of the fd thkh, as a mknknwn, matches Inflatky), to prcthe a reas(nable inc(¥ne Y In Ilne wlth the yleid (m the Fr5E.1 Sh Index. The Tnstees reA&¥ thew Investment strategy with their investment rnager at thich half yearly rneeting and also receh quarterly rep(rt 3,81M]. Fln*Klal revlew The trust receive5 frcm Its hivestments. The reurtts the page 5. The Trustee5 Clm5ider the to be satlsfact(ry given the current market The trt fund 15 entirely restrI. pr(Akned an frf £75,053 [2022 m.875]. Grants and related managÉwt expeffjes fded t d both capltai and totalLed £125.901 [2022 £125,416]. Lhjrfng the year. the Trte¢S awarded trtaLilng £101.Ml diykled bEtween foil(pAkng actfvlty areas:. IWical Research HealtlKare Welfare 5o¢lal Welfare 67.(Kl) 1.21J) The Trustees ensure that thelr grt makkn4 poilcy wlth their available re%rreS each ye¥ and as they make di5trfbuti(ffi5 frcrfn both capital and &K(xne, the TneeS consi(kn that there Is no need for a specific re5eTVe. Pl¥ for future pwloth The Trustees consl(ler that the trust fwKI 15 yJfIkt to ensure the future of this t. and f Indedent ex•mlners The Trustee5 have asked Andrew Jordan FCA rf Haine5 Watts Chartered kCwitts to undertake the ePendent examlnatkn of the Trust. Apped by the Tnrtees and slgned on thetr behalf ty: - 20Z4 Jeremy Jokn Thrl
I rerhxt on the acctxmts of the Tnst for the year ended 31 December 2023. thich are out on pa8e5 5 to 12. Responslbllltles and basts of re As the tharity'5 Tru5tee5 are re5PLThibie for the weparation of the acco In accordance vAth the requlrements of the Charitles Act 2011 1.the Act'}. I report In respect of my examlnatlon of the charlty's accounts canled out der sectlon 145 of the Act and In carrying Out my examinatim I have followed all the appiicabLe Directions given by the Charfty Commlssl¢Jn urKler sectlon 14515llbl of the Act. Indepwthit exarnknerfs statement I have cwipleted my examinat1. I confirni that no material matter5 have CThe to my attentkffi In cornection with the eyAminatiM givi me cae to believe that In materlal respect: 1. accoting record5 were not kept respect of the tharity as re(plred by sectlon 130 of the Act. or 2. the accowts do not accw(i wlth those records: or 3. the accolts do N)t comply with the applicable re(wlrements concernlng the fomi and Ccffbtent of aCCOLmts Set wt in the Charities {Acccthts and Reports) RuLatIN 21Th other than any requlrement that the accounts 8+ve a'tnt and falr vlevl vthlch is not a matter consldered as part of an Iwdent exarnlnatl(m. I have no concems ar have come across no other matters In c(mCtion with the examinatiL to wmch attentlon shthAd be dravm In order to enable a proper derstaj1ng of the aCcOts to be reathed. .20Z4 Andrew Jordan FCA for and on behalf of Halnes Watts Chartered Accwnt4nts Bath House Bath Street Brlstol BS1 6HL
Thg *mn•tt Ch•rft•bl• Trust 2023 2022 Income from: hwestments 75,053 79,875 Total Income 75.053 79,875 Ralsln¥ funds: InVestMt management tharltable activitie5 12.396 113.505 12,491 112.925 Total eXplture 125,901 125,416 Net gaknslllossesl Investments 29,1( 123,804) Net Incomel(expdIkne) & net Mtyle In fd5 121.7421 (69,345) Recondllatlon of fvndk" Total funds ht forward 2.120,429 Z.189.774 Total funds carrled fonywd 2.Ql8.687 2.120.429
Th• Annatt Ch•rlt•blo Trust 8aianc• sheet at 31st Decernbor 2023 2023 2022 Flxed Assets Investments 1.984.361 1.937.796 1,984,361 1,937,796 Current Assets Cash at bank and in harKI 175,016 230,374 Dlvidends due 212 175,ZZ8 230,374 Current Llabllltles Credltors: arnots falllng due vAthln (e year 35,902 22,741 Net current assets 139,326 207,633 Total assets less cwrent liabilitie5 2,123,687 2,145,429 Credltors.. amOt$ falllng due after 1 year 25.1]Xl 25.IXIO 2.098.687 2,120,429 Funds General fwmjs 2.(f18.687 2,120,429 Total th¥lty funds 2,098,687 2,120,429 Approved by Jeremy J Trin8 on behalf of Tnrtee5". Date . 2024 Jeremy J Thring Trustee
The Annett Charft•ble Tn Notes to the flnanclal statéménts for the yex er#led 31st December 2023 1 AccouKfiNG POUCIES Basls of prewlni the flnanclal statements The finandal statements of the dwrlty, which 15 a liC bertht entfjty )der FRS 102. have been prepared In acctxdance vAth the Charitbes 5(XiP (FR5 1021 'AccrAmting and ReFtIng by Charitie5: Statement of Recon Practice appiicatle to charities preparlTrJ thelr aCcOts In accordance the Flnanclal Remkng Standard appilcabie in the UK and RepthlTC of Ireland (FRS 11r21 {effecttve 1 January 20191., Flnandal Reportlng Standard 102 The Financial Repcrtlnl Standard arplkable In the UK and Rewbllc of Ireland and the Charltles Art 2011. The financial Statements have prepared the historical cost conyentlon except the ralUatiOn of InvestnNy)ts. The financial statements have been prepared to give a and fairf vie•Y and have departed frwi the Charttles (Accots and ReFrftsI Relat1$ 2(X)8 only to the extent requlred to wovth a Irue a1 fair view. This ¢kparture has knvolved followfjr AcCOtIng and Reportlng by Chwities preparing their acC(ts In accordan vAth the Flnandal RertIng Standard appikable In UK Rewknik of Ireland IFPS 1021 iss1 on 16 JY 2014 rather than the Acc(xmtfng aThJ ReFKJrting by Charities: Statement of RecrmmeTrJed Ftractke effectlve from 1 WI 2015 V+lth has slKe been wlthdrawn. fInal3{ statements are wepared In stert1 ts the fwKtk)nal Cre of the drtty and are rffided to nearest £. The finala1 statements have been twwed cfft the that the dwlty Is able to continue as a gowq concern, knthich the tntstees conslder apwoprfate havlng regard to the cwrent level of restrIcted reser. There are materlal ertalntks about the ty.5 abtlity to contiThE as a goi concern. Income All Income 15 recognised In the Statement of FInala1 Actmtles once the dkirtty has entltlement to the funts. it is wthbie that the irCe will be recefved and the aNK)unt can be measwed reilably. Llabllltles are recogntsed as expwthure as srth a5 there Is a leKal or cErtte ligation committing the charlty to that expenditwe. it 15 probable that a transfer of econornlc benefits wlll be rewlred In settlement and the amount of the rtjllgatlcrf) can be measwed reliably. ExpeThJiture TS acc(wnted fly (N) an accnols bas15 WKI has been classlfied urKler Iwdings that aggregate all cost related to the category. Where costs cannot be threctiy atts1tMrted to partlcular Wlnq5 tlw have been all(Trted to activitie5 on a basi5 consistent wfjth of resowces. Grants offered 5JeCt to ctNMjItI( thlth have N)t been met at the year efvj are Irrecoverable VAT ts dr8ed a5 a C05t a8ain5t the actmty f(Y wthlch the expayJSture was incwred.
Tho Annatt Ch•rlt•bl• Trust 14otes to the fmncial statements forthe yearended 3tst December 2023 {tontd) Investments L15ted inveStrnts held at the year efKI are valwl ai fair value belThA current m) value at that date. Investment Income from div1d ts Ir£luded In Incomlng resources whlle reallsed and unreallsed losses and galns on Investments are shown separately on the Statement of Financial ActivitTe5 ISOFAI. Realised afKI realIsed Sai are shovm as e figwe being net gainslllossesl wi the SOFA page 5. Debtors are recognised at settlement aMOt due. Prepay7Ythts are val1 at the amolt prepald. Credlt(Ys Creditors and provtsltrfts ¥e recognised the d*rfjty has a wesent c&iigatlon resultlng from a past event that wlll probably result In the transfer of funds to a thlrd party and the amowt to settle the obllgatfion can be measured or estimated rellabiy. Crethtors and provisions a nomially recogntsed at their settlement amctht after allow1n# for ary trade dlscounts tkn. Taxatkn The charlty Is exempt from tax on Its charftabie actmtles. Fund accountlng Unrestrfcted funds can be ed In accordaKe wlth the charTtable objects at the discreticffi of the tru5tee5. Restrlcted can (mly be used for partlcular restrlcted pur wlthln the objects of the tharity. Re5trTCtions arise specified the or when fKIS are raised for particular re5trirted pwp05e5. Flnandal Instruments The charity only has financial assets a1 liabilities of a that qlIfy as baslc flnancial Instrunents. Baslc flwidal ItrUments are Inltlauy recogntsed at transactlon value aThJ $th5e(ptIy Mea5W at their settlement va. Shwt terni Ilquld Investments and cash Cash at bank Is held to meet short-term cash commltments as thty fall due rather than for Investment PWP05es and IrldeS all cath equivalents held in the foryn of short- tenn highly Ilqufjd Investments. Cash equivalents are shNt-tem), hlghly Itquld Investments that are readlly convertlble to kThy•m am0 of cash and that are sthJect to an Inslgniflcant risk of changes In Va.
Tho Annett Ch•rll•bl• Trust Notes to the flnand•l statements for the ye•r énded 31st Decem1 2023 2 Investm•nt Income 2023 2022 Investment Incc¥ne 78,682 5,278 1.193 Total Income fnxn knvestme 75,053
4 Grants payable Z022 No. Grants to charitable institutions Grants to indivithals 51 101,2 103,250 51 101,200 103,250 Grwts payable to Instltudons 2022 Uni4w%ty of Bath RICE Weltelng of Women Wlllshlre Air AMlanCe je1* May Clkn's Ho¥ at Home Other InslKuthMI grants (under £2.CKK)) 42,2(A] 69 53,250 51 101,2 70 103,250 5 Investments. pooled Investment vehlcies 2023 Marf(et Yaiue at 1st January 21123 AddIti(S DlstKisal proceeds Revaluatlons 1,937,796 256,280 1238,8211 29.1L 2,091,358 27,255 1157,0131 123.8041 IAarket value at 31st December 2023 1,984.361 1.937.796 Hlstorfcal cost: At 31st December 20Z3 1.547,423 1,459,454
Th• nn•tt Clwltabl• Tru Notes to the ftrwidal stat•mMts for the ended 31st December 2023 6 Credltors . amounts due vthln 1 ye 2023 2022 AccrLots Grants alvarded yet wkl 10,902 25,(MJ) 10,241 12,511 35,902 22,741 7 Credltm . •rnounts over l y 2023 2022 Grants awarded yet wld 25,(MX) 25,( 25,LlXI 25.OCLI Related party transact10Th5 Jeremy Thring is on the staff list as a Corultant for Thrinq5 LLP. Thrings cary out all of the administration and aCcOts preparati{ for the trt. The f& charged for this SeN1 in 2023 was £10,752 incILVry VAT12022: £8.304). 9 Trustees rwnuneratlon and rece There was M Tnjstees. remuneratlon or other bendits for the year ended 31 December 2023 rnr for the year ended 31 December 2022. There was IK) Tntstees. eXFe5 pald for the year ended 31 December 2023 for the year ended 31 December 212. 12