Charlty I￿. 11237Q)
THE ANNErr CHARrrABLE TRUST
REPORT AND UNAUDrrEO FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31ST DECEMBER 2023

Th¢ Annett Charllth TWI￿1
Reference wrfl 4thilnlstratlve d￿all$ 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 sq￿re
Brtrtd BS141
Halnes Watts Chart￿￿ kn￿ltants
Bath HLKtse
Bath Street
BrfstrA BS16HL

Th• Ann￿ Charftalkn Trust
Reptyt of the Trustees for th• yw ended 31st Decents 2023
The Trustees pre￿t thelr rep(rt the flnandal statements of the charlty for the year ended 315t
December 2023. The Tn￿tee5 have adcyted the pr(vts1￿$ of ACC(￿tIng and Rewtkng by Charltle5:
Statement of ReC1￿mended pr￿tICe appik*Ae to tharities prew¥ig their aCcO￿ts in accordaKe wlth
the FinancTal Rep(xtlng Standard wIlcal￿ in the LIK l￿d Rewbiic of Irel￿￿ IFRS 1021 leffectlve 1 Jarwary
20191.
The Amett CharlLible Tn￿t 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 l￿draISe and seeks to c￿tInUe the thritable w(¥k a5 dE5ired lry the Tn￿eeS thr￿gh the
investment of its existlng reS￿rt¢S.
The Trustees who have wved thr￿ryh￿rt 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 pr￿edUre includes
knpartlng knchvledge of the hiSt￿Y 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 Tr￿ee5 glve of their time freely and nD trustee remLmeratiDn
was pald In the year. L*tsiis of any trustee expen￿ and related party tr*Kactlcrts 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 fIn￿da1 statanents.
The Trustees have cty)sidered the major risks vthich the charlty faces and Cl￿fIrM 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 T￿￿tee5 ccffiflnn that theg have referred to the guidance contained In the Charlty
c￿lmISs￿￿'S general swidano rm pthiic benefit ¥rt￿n r￿le+￿9 the charltys ayns ald L*)Jectives
and In piannlng future aCtknt￿ and Sett￿g grant making pclicy for the year.
The tharity carries ujt its objects by Invltlng appli¢atityts f(Y fwding fr￿ brth indivithais l￿d
charitable C￿anIsatIOns. 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 Investm￿t strategy Is set by the
Trustee5 for a perlod of three years and takes acc(xmt of recent thmand frA f￿d5 and the quallty
of the grant applicati(￿5. Tl* Trustees conslder the requirements. capTtal grant funthng
requlrements, the risk wofiie arKI the InVeSt￿t managerfs of the market prospects kn the
Med1￿￿ tenn. This strategy ts set wlthfn an tr￿￿[1 pSlcy t*thkh ststes that the trurt l￿d Is to be
Invested to ctltain an annual *Kr&ise In the value of the f￿d ￿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 rn￿ager 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 tr￿t fund 15 entirely ￿restrI￿. pr(Akned an frf £75,053 [2022 m.875]. Grants
and related managÉwt expeffjes f￿ded t￿ d both capltai and totalLed £125.901
[2022 £125,416].
Lhjrfng the year. the Tr￿te¢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 gr￿t makkn4 poilcy wlth their available re%￿rreS each ye¥
and as they make di5trfbuti(ffi5 frcrfn both capital and &K(xne, the Tn￿eeS consi(kn that there
Is no need for a specific re5eTVe.
Pl¥￿ for future pwloth
The Trustees consl(ler that the trust fwKI 15 yJfIk￿t to ensure the future of this t￿￿. and f
Inde￿dent ex•mlners
The Trustee5 have asked Andrew Jordan FCA rf Haine5 Watts Chartered kCwit￿ts to undertake
the ￿￿ePendent examlnatkn of the Trust.
App￿ed 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 C￿The to my attentkffi In
cornection with the eyAminatiM givi￿ me ca￿e to believe that In materlal respect:
1. acco￿ting 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 acco￿lts do N)t comply with the applicable re(wlrements concernlng the fomi
and Ccffbtent of aCCOLmts Set wt in the Charities {Acccthts and Reports) R￿uLatIN
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(m￿Ction with the examinatiL
to wmch attentlon shthAd be dravm In order to enable a proper ￿dersta￿j1ng of the aCcO￿ts
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:
InVestM￿t management
tharltable activitie5
12.396
113.505
12,491
112.925
Total eXp￿￿lture
125,901
125,416
Net gaknslllossesl Investments
29,1(
123,804)
Net Incomel(exp￿dIkn￿e) & net Mtyle￿ In f￿d5
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: arno￿ts 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.. amO￿t$ 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
ReF￿tIng by Charitie5: Statement of Recon￿￿ Practice appiicatle to charities
preparlTrJ thelr aCcO￿ts 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 r￿alUatiOn of
InvestnNy)ts.
The financial statements have been prepared to give a and fairf vie•Y and have
departed frwi the Charttles (Acco￿ts and ReFrf*tsI Rel￿at1￿$ 2(X)8 only to the
extent requlred to wovth a Irue a￿1 fair view. This ¢kparture has knvolved followfjr
AcCO￿tIng and Reportlng by Chwities preparing their acC(￿ts In accordan￿ vAth the
Flnandal Re￿rtIng Standard appikable In UK Rewknik of Ireland IFPS 1021
iss￿1 on 16 J￿Y 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.
fIna￿l3{ statements are wepared In stert1￿ ts the fwKtk)nal C￿re￿ of
the d￿rtty and are r￿ffided to nearest £.
The fina￿la1 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 FIna￿la1 Actmtles once the dkirtty has
entltlement to the funts. it is wthbie that the ir￿C￿e will be recefved and the
aNK)unt can be measwed reilably.
Llabllltles are recogntsed as expwthure as srth a5 there Is a leKal or c￿￿Ert￿t￿e
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 5￿JeCt to ctNMjItI(￿ *thlth have N)t been met at the year efvj are
Irrecoverable VAT ts d￿r8ed 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 inveStrn￿ts 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 aMO￿t due. Prepay7Ythts are val￿1 at the
amo￿lt 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 f￿KIS are raised
for particular re5trirted pwp05e5.
Flnandal Instruments
The charity only has financial assets a￿1 liabilities of a that q￿lIfy as baslc
flnancial Instrunents. Baslc flwidal I￿trUments are Inltlauy recogntsed at transactlon
value aThJ $th5e(p￿tIy 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 Ir￿l￿deS 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 AM￿lanCe
je￿1* 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
12,51￿1
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 Cor￿ultant for Thrinq5 LLP. Thrings cary out all of the
administration and aCcO￿ts preparati{￿ for the tr￿t. The f& charged for this SeN1￿ in 2023
was £10,752 incIL￿Vry 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. eXF*￿e5 pald for the year ended 31 December 2023 for the year
ended 31 December 2￿12.
12