IM irwinmitchell ANNABELS FOUNDATION REGISTERED CHARITY NO. 1193422 TEMENT Forthe Year ended 5 A ril 2024 IR•f- 05410168-21
ANNABEL 422 Con nts to Fin for thg Ygar ended 5 A ril 2024 Annual Roport of the Trustees Independent Examiner's Report Balan(x Sh88t stalernent ol Financial A1vit8 7-11 Notes lo Financial Statetnents 12-17 Schedule of Inveslrnents Income
ANNUAL REPORT OF THE TRUSTEES For the pgrffiod andod 5 April 2024 Full name of Charity.. Annabels Foundation Nature of governlng document.. Original Conslilulion dated 4 February 2021 Reglstratlon Number: 1193422 Trustee5: Peter John Kanabus Annabel Kanabus Adrian Kanabus In Milch&ll Trustees Limited Registered Address: 1 Queens Rise, Richmond. TW10 6HL Bankor: National Weslminsler Bank Pk, 47 Carfax, Horsham, Wesl Sussex. RH12 1FD Solicitors: Irwin Mitchell LLP, Thomas Eggar House, Friary Lane, chhes1er. West Sussex, P019 1UF Investment Managors: JM Finn & Co. 25 Copthall Avenue, London. EC2R 7AH Independent Examiner Claire Norwood, Carpenter Box, 4 Dukes Court, Bognor Road. Chichester, Wesl Sussex. P019 8FX Operatlng Restrlctlons: Charitable objects according lo the Law of England Specific Investment powers: Powers given lo thè Trustees in accordance with the Trustee Act 2000 as detailed in the Constitution dated 4 February 2021 GA.. 5257352 1
Objects of the ¢harity The Trustees shall hold the capital and income of the Trust Fund upon trust lo apply the income and all or such part or parts of the capital al such lime or limes and in such manner lo or for the public benefit, the relief of sickness and the preservation of heallh by improving pain management through research into improved diagnosis and liealmenl by funding research carried out in Universities and hospiial sellings and il is disseminated lo the public, and by funding beller ways of infom)ing patients about developments in infectious diseases. To provide grants and don81ions for such charitable purposes, for the public benefit. that are exclusThie charitable according to the laws of England and Wales as the Iwslees may from lime to lime determine. The Iruslees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Grant making policy The capital and income of the Trust is lo provide only for the assistance or provision of funds as detailed in the Conslilulion dated 4 February 2021. The trustees have sel up a website lo provide guidance lo potential grantees www.annabelsfoundalion.or Achievements and performance: During the accounting period the trustees made 4 grants lotalling £72,76012023'. S lolalling £200,077). Financlal review and investment policy There are no restrictions on the charity's power lo invest. The investment strategy is sel by the trustees for a period of five years and tskes account of demand for funds. The Iruslees Consider the income requirements. the risk profile and the investment manager's view of the market prospe¢ls in the medium term. This strategy is sel within an overall policy which stales that the fund is lo be invested in moderate risk investments with a view lo ensuring that ¢apitsl appreciation of the fund exceeds inflation over each five year period. The funds may be invested in any type of investment. Our strategy is reviewed with our investment managers annually. During the year incoming resources lotslled £15,226 12023.. £17.8601 and resources expended lolalled £86,087.5512023.' £211,743) and there were other re¢ognised gains of £23,45812023.. losses of £62,417). As a result the fund balance carried forward at 5 April 2024 was £528,040 {2023'. £575.4431 The Trustees confirm that they did not receive any remuneration during the year. nor were they reimbursed for any expenses. Reserve5 poIIcy . It is the policy of the charity to maintain unreslricled funds. which are the free reserves of the charity, at a level which equates lo approximately six months expenditure. This provides sufficient funds lo cover management and administration and support costs and lo respond to emergency applications for grants which may arise. Unreslricled funds were maintained al this level throughout the year. Risk management - The Iruslees have examined the major slralegic, business and operational risks which the charity faces and confirm that systems have been established lo enable regular reports lo be produced so that the necessary slep8 can be taken to lessen these risks. Personal Ilablllty of Trustees and Conflicts of Interest: Trustees always consider mallers of conflict of interest where relevant. In situations where any Iruslee may be in conflict, those Iruslees abstain from voting and discussion. This is particularly relevant where the Iruslees have personal connections with the beneficiaries of the charity's funds such as charity not for profit organisalions and individuals. The charity is an unincorporated trust and therefore personal liability of trustees is unlimited. However, the activities of the charity as such are that there is very little exposure lo liability for the Iruslees. The trustees GA.. 5257352 1
have a strict grant making policy and donations are monitored to ensure that donations are being used as intended by the Trust. Trustees, responsibilities in relatlon to the financial statements Law applicable lo charities in England and Wales requires the l¥uslees lo prepare financial slalements for each financial year which gThie a true and fair view of the charity's financial activities during the year and of ils financial position al the end of the year. In preparing those financial sl8lemenls, the Iruslees are required to.. select suitable accounting policies and then apply them ¢onsistenlly', observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent slate whether applicable accounting standards and statements of recommended practice have been followed subject lo any departures disclosed and explained in the financial stalemenls,. and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping sufficient accounting records which disclose with reasonable accLJracy at any time the financial position of the charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the ¢harily and hence for taking reasonable steps for the pVentIOn and detection of fiaud and other irregulari(ies. The Trustees confirm that the accounts compty with the governing document. Al present there are fourTrustees, the minimum allowed in the Trust Deed, with an unlimited maximum. The rirsl Trustees are enlilled to hold office for life. Approved by the Trustees and signed on their behalf Irwin Mitchell Trusloes Limited loir GA: 5257352 1
ANNABELS FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANNABELS FOUNDATION I report lo the Iruslees on my examination of the finan¢i81 statements of Annabels Foundation (the '¢harily') for the period ended 5 April 2024. R•sponslbllltles and basis of report As the Iiuslees of the charity you ale iesponsible loi the preparation of the financial sl8lemènls in accordance with the requirements of the Charities Act 2011 Ilhe 2011 Act). I report in respe¢l of my examination of the charity's ffinanci81 slalements carried out under section 145 of the 2011 Act. In carrying out my examinalion I have followed all thé applicable Directions given by Ihe Charity Commission under section 14515llbl of the 2011 Act. Independent examInèS ststement I have completed my examination. I confirm that no mallers have come lo my attention in wnne¢tion with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the ¢harty as required by section 130 of the 2011 A¢t' or the financial slalemenls do not accord with those records., or the financial slatements do not comply wllh the applicable requirements concerning the form and conlenl ol acwunts set out in Ihe Charities IAc¢ounls and Reports) Regulations 2008 other than any requirement Ihal the accounts give a true and fair view which Is nol a maller considered as part of an ind@pendenl examinatn. I have no concerns and havè come across no other malleTS In connection with the examination lo which attention should be drawn in Ihis report in orderlo enable a proper understanding of the financial slalemenls lo be reached. Glaire Noood Bsc FCA ATII Carpenter Box Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX 3110112025 Dated..
46208172v1- IE repDrt 2024
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P•go6 NNABELS FOUND REGISTERED f Flnanclal Actlvltles fortheyeurendpd 5 Yoarendod Yéar Mded 6.4.2123 Gross invesknenl Income 15,225.78 17,880.90 Total Incomlng Resou$ 17,880.90 Resources expended Chthtaty8ActllQ5 0,94J.39 208,215.00 Ral$lThg lu#d8:. InvestmenlmBnagem8nlrnsts 5,139 16 5,529.75 Total ResOUe Expondod 86,087.55 42. OlherRfjcDgnlstd G•lw4Lossegl Realised Il¢ssVgaln8 Sa Lf inveslmenl5 Unreali5ed Ilossllgainson inVe¥e$ NellncDme forth•YfyarNBt rnovomfrnt In fund5 11.699.¢1 11.858 63 47.403.53 148,631.701 I256,3.54> Fund babneètougMforvd•rd 575,443.79 831.744.33 FuThd balAn¢o ¢8ryled forward 5.4.2024 528,Q40. 575,443.79 NO01 tho ¢hadV$ actiVftswaFe acquId 01 LISnthUed dviinu ihisfise81 Yeai. The Charity hasno recognisedoainsor Iwgs otherlhan Ihosedeallwth in the atsm¥niol Fln8ndalA¢vvrts. The notes on page87-11 fom oflhegeaccx)unts.
Page 7 ANNABELS FOUNDATION REGISTERED CHARITY NO. 1193422 Notes to the Accounts for th8 eriod ended 5 A ril 2024 1 ACCOUNTING POLICIES Annabels Foundation is a charitable incorporated charity. registered with the Charity Commission number 1193422. The registered address is 1 Queens Rise, Richmond. Surrey, TW10 6HL. 1.1 ACCOUNTING CONVENTION These accounts have been prepared in accordance with the charity's conslilulion, the Charities A¢t 2011 and 'Accounling and Reporting by Charities" the Slalemenl of Recommended Practice for charities applying the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and UK Generally Accepted Accounting Practice as il applies from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102, The accounts have departed from the Charities IAc¢ounls and Reports) Regulations 2008 only to the oxlenl required lo provide a true and fair view. This departure has involved following the Statement of Recommended PFacli¢e for charities applying FRS 102 rather than the version of the Slalement of Recommended Practice which is referred lo in the Regulations bul which has since been withdrawn. The accounts are prepared in sterling. which 18 the funclKJnal rrencY of the charity. The accounts have been prepared on the historic81 cost convention modified for the revaluation of inveslmenls. The principal a¢counling policies adopted aTe sel out below. 1.2 GOING CONCERN Al the lime of approving the accounts, the trustees have reasonable expectation that the charity ha8 adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discTetwJn of the Iruslees in furtherance of their ¢haril8ble objectives unless the funds have been designated for other purposes. 1.4 INCOMING RESOURCES Income is re¢ognised when the charity is legally enlilled lo il after any performance conditions have been mel, the amount8 can be measured reliably, and il is probable that incomo will be received. The gain or Ioss 8r¢sing on the disposal of an asset is deleimined as the difference beeen the salè proceeds and the caTrylng value of the asset, and is recognised in nel in¢omellexpendilurel for the year.
Page 8 1.5 GRANTS PAYABLE Grants payable are debilod lo expenditure within the Statement of Financial Activities during the period in which the charty enters into 8 constructive obligation lo make such payments. Where a grant commitment is payable over a period of more than one year, a liability is recognised for the full amount of the constructive obligation unless conditions are allached lo future payments such Ihal the Iruslees effeclively retain the discretion to avoid making such payments. 1.8 INVESTMENTS AND INVESTMENT INCOIVJE All investments are slated al fair value and the movement shown comprises both realised and unrealised gains and losses. Realised gains or losses arising on the disposal of investments Ilogelher with provisions for diminution in value), are credited or debited lo the Statement of Financial Activities, and subsequently transferred lo Unreslri¢led Funds. 1.7 CHARITABLE ACTIVITIES The eost of charitable activities consists of grants made. 1.8 COST OF GENERATING FUNDS The cost of generating funds consists of invoslmenl management fees. 1.9 GOVERNANCE COSTS Governance Costs comprise all costs involving the publi¢ accounlabilily of the charity and f(s ¢ompliance with regulation and good practice. These costs include costs related to slalulory audit and legal fees together with other overhead and support costs. 1.10 CASH AND CASH EQUIVALENTS Cash and cash equivalents include deposrts held al call with banks. 1.11 FINANCIAL INSTRUMENTS The charily has elected lo app the provisions of Section 11 'Basic Financial Instruments. and section 12 "Other Financial Instruments Issues. of FRS 102 to all of ils financial inslrumenls. Financial assets and liabilities are offset, with the nel amounts presented in the financial sialemenls, when there is a legally enforce8ble right to sel off the recognised amounts and there is an inlgnlion lo sellle on nel basis or lo realise the asset and sellle the liability simultaneously. Baslc financial assets Basic financial assets, which includes debloTS and cash and bank balances, are inilialty measured al transaction price including transaction costs and are subsequently carried al amortised ¢osl using the effe¢live interest method unless the arrangement conslilules a financing Iransaclion, where the transaction 18 measured al the present value ol the future receipts discounted al a market rale of interest. Financial assets cLqssified as receivable within one year are not amortised.
Page 9 Impalrment of financial assets Financial assets, other than those held al fair value through income and expenditure, are assessed for indicators of impairment at each reporting dale. Financial assets are impaired where there is objective evidence that, as a result one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affecled. If an asset is impaired, the impairment loss is the differen¢e between the carrying amount and the present value of the estimated cash flows discounted 81 the asset's original effective interest rate. The impairment loss is recognisod in nel incomellexpendilurel for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment was ¥ecognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been. had the impairment previously been recognised. The impairment reversal is recognised in net incomellexpendilurel for the year. Basic financial liabllltles Basic financial liabililigs, inclursing trade ancl other payables, are initially recognised al ITansaclion price unless the arrangement constilules a financing Iransaclion, where the debt instrument is measured at the present value of the future receipts discounted al a market rate of interest. Debt instruments are subsequently Carried al amortised cost. using the effective interest rale method. Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classed as current liabilities if payment is due within one year or less. 11 not, they are presented as non-currenl liabilities. Trade payables are recognised initially al transaction price and subsequently measured al amortised cost using the effective interest method. Derecognltlon of financlal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies. the trustees are required lo make judgements. estimates and assumplic)ns about the carrying amount of assets and liabilities that are not readily apparent from other soums, The estimates and associated assumplions are based on historical experience and other factors that are consi(Jered lo be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period Df the revision and future periods where the revision affects both current and future periods.
ISTEREDCHMiI EDA5SETINVESTMENTS Yèllrèndbd ¥w4ndwd V0thelvdu86421ll3 rtlitstash6420¥J 7.4[76 SD S52.2.C &2,7.10 s.ei4. 834.141. 0,{88 (2&412951 I142.?.&)) 11,85&63 S040 11.77 .1.41} a22,179 8bM.70 21&761.ty) 16.237.35 457,l]D E 616.478.49 tsRI>SSKE$lEP1Tw¢oMt YqLr•nd&dS&21f14 6A.2423 lnc0mèfvfyriOdK1n¥Bn )1398.28 lJJ*.28 16.478Ag 1.348.Q4 .17 16.17&eg JF&cO 9g5
Paue If NNABELS F tqs tothwAccDun 112024 Yetronde 6A2024 Y0ar0ndod 6A.Z•23 6.¢ASH N¥l#¢ 5,117.ts4 £ 3.865.73 6. CREOITORS.. Yeirended 5A2Q24 Yearended 6A.2023 knounts faKIngdthIn unvyèii dependentEX&MÈNon f¢¢$ AOu1& l.eg41 ond prolewoD4 Pkdgetoothd un1YeTy Pet0?lsu¥l¢xCtyJntyc¢UrI 2.640.(W) 42th).th) 1,2().th) 4,2(M).(Mi 52,(th(h) tJ.278 80,678. rJ,278.th) 30,118. 7.CHAFJTABLEAGninnES Y•ar•ndod 6A2024 72,760 8,18839 Y•arondqd SA.2023 2W.077.OD 6,138. 2(,15 GrlS pByabliMiÉs8) ShareofGovmnuCo¥lglDol8 10) B. GR4NT5 PAYABLE The[ewenljdlthorUw¥tr(2O23..ffivej g.COSTOF GENEPAnNSFIX4tJs Y•¢rgndod 6.42024 Year•Trded 5A.2Q23 JM Flnn8 Co 5.139.16 5.139.16 5.52Y.75 6.52e.75 10. GOVERNANCECOSTS Y••r•nd•d 6.4.2023 6A2)24 lThYA1Chell LLP-L¢g91 & Pmhsslon31 f8qs clnlyfe Hud5un Lld-A¢¢wnigvf e8tpEnlerEoxlJpn¢$Av¢n$- IndopendenlEKThn81feP¥ St4N¢neryAndIWb1e co8 4.080.00 t.440.th) 1.69B.39 .188.39 Y5B.UO e.13e.00 BaslsolMDcalkn. AlOfthpLaGecO5tsareityd iOlh¢ chts7o olgranlmanu.ioia1uU.198.3$ In 202412tr2l. £6,138) 11. TRAPISACTIONS TH TRU5TeES Ihet?wer&nDpaymenis 1DftuEiev$lorthtryw•nd 5Awl 2024 12. EMPLOYEES Ihetsvrt*nogmplw8sdurfno th8 Year. 13. RELATEDPARTY TRANSA¢nry18 no Idaled patlyli•iladknnskn th?nIng PdiD$I2024.
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