2025-03-31-accounts

The Showerin Fund UK Charit re istration No= 200017 Annual Re ort and Unaudited Financial Statement for the st eriod ended 31 March 2025 The Showering Fund Registered Charity Number.. 200017 Registered UK Address.. Pathology Science5 Phase 2 Level 2, North Bristol NHS Trust, Southmead Hospital, Southmead Road, Westbury-on-Trym, Bristol, BSIO 5NB

al and Administrative Information Board of Trustees.. Dr Mark Gompels Dr Mahableshwar Shankar Albur Dr Margaret Mary Williams Dr Sophie Otton Francis Showering Matthew Showering Dr Philip David Bright Dr Yuening Zhang Chair Charit Number.. 200017 Charit Re istered Name.. The Showering Fund Re istered offi￿.. Pathology Sciences Phase 2 Level 2 North Bristol NHS Trust Southmead Hospital Southmead Road We5tbury-on-Trym Bristol BSIO 5NB Bank.. Lloyds Bank plc Bristol Branch 55 Corn Street Bristol B599 7LE Investment Advisor.. Rathbones 111 Victoria Street Bristol BSI 6AX Tele hone.. 0117 414 6215 Email.. [e-mail] Page 2 of 14

Trustees Re ort for the ear ended 31, March 2025 The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's Memorandum and Articles of Association, and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" la5 amended for accounting periods commencing from l January 20191. Charitable Objectives and actlvltles The objects of the charity are the promotion and development of medical research to be carried out by the Department of Pathology of the North Bristol NHS Trust INBTI. The Trustees confirm that as required by the Charity (Accounts and Reports) Regulations 2008, they 'have due regard, to the Charity Commission's public benefit guidance when exercising any relevant power or duty. The guidance is taken into account when reviewing the Trust's aims and objective5 and in planning future activities and approvinE grants. Using income derived from investments, the Trustees make grant5 to researchers employed within NBT to undertake worthwhile pathology research projects with a view to benefiting patients. The charlty seeks to heighten the profile of the Department of Pathology, and also to educate and inform its Staff, by organising an annual lecture by a guest speaker on a current pathology research theme. All Trustees gave their time to the Charity voluntarily and received no honorarium, emoluments. expenses or other benefits, other than meeting related refreshments. Funding is allocated to projects by the Application Sub-committee following internal peer review land external review in certain cases, especially for grants over £IO,0001, and where appropriate approval by a Research Ethic5 Committee. All projects supported by the Charity must meet the strategic Research and Development objectives of the North Bristol NHS Trust. Achlevements and performance No new award5 granted or closed in 2024125. Ongoing projects are summarised in note 9 to the accounts. Strurture* governance, and management Trust Deed of Idth March 1961 as extended and varied by the Deed of Variation which took effect from 1st April 2008. The Trustee body is made up of one Consultant PatholoElSt nominated from each of the six Patholo8y Department sub-specialties, the Chair of the Trustees (normally, but not always, the most senior Consultant Pathologist) and two survivors of Mr Francis Edwin Showering. CBE. The appointment of new Trustees only occurs on the departure of one of the specialty representatives when the relevant Pathology Department is asked to nominate a new Consultant representative. The department represented by the Chair may have a separate member to provide the input that the Chair would have provided in that role. Page 3 of 14

Structure* governance, and management Icontinuedl Periodically the Trustees are sent electronic copies of information appertaining to their responsibilities. As well as the Trustee body there are two standing sub-committees- The Application5 Sub-committee for grants which consists of the seven Pathology Trustees. The Investments Sub-committee consisting of the two Showering family Trustees, the Chalr and Dr Philip Bright, Consultant Pathologist. The Pathology Trustees are also employees of the North Bristol NHS Trust INBTI and are aware of the need to separate the financial interest of the Showering Fund from that of N8T. A reglster of interests is maintained, and each Trustee is asked to provide an annual update. A table of potential risks to the Charity is presented at the AGM for review and systems are established/maintained to mitigote those risks. There is an insurance policy in place to cover the activities of the committee. Flnanclal Revlew We received a lower number of applications for funding over the period from March 2020 related to redeployment of clinical and research staff to support patient care and national trials of COVID. This has also resulted in some of the funding not being utilised. This will be made available for future research. All of the funds available to the Charity originate from the endowment of £50,000 received from the Showering family in 1961. This sum, which has since appreciated. 15 held in trust and has to be invested unless otherwise used in accordance with the Trust Deed. The Trustees must use the income to meet the objects of the Charity. The income received by the Investment Advisor is transferred to the Charitys Lloyd's current account on a quarterly basis. This account is used to fund project costs on an ongoing basis. Funds in the current account which are not required in the short term are transferred to an income earning COIF deposit account, if there is significant interest rate. The objective, whenever possible, is to restrict the maximum sum held in the current account to less than £20,000 so as to maximise the interest earned on the income received by the Charity. When necessary, funds are transferred back from the COIF account to the current account to fund current project expenditure. Within 2024125, dividends and interest of £32,897 were received. There were payments of £4,188 on administration, insurance and accountancv. The investments are managed on a discretionary basis for balanced growth with moderate risk. An ethical policy places restrictions on investing in tobacco, firearms and defence. Investment management fees of £6,748 were incurred by the Endowment Fund. Page 4 of 14

Statement of trustee5' re5ponslbllltles Law applicable to charities in England & Wales requires the trustees to prepare a financial statement for each financial period which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statement5 giving a true and fair view. the Trustees should follow best practice and: select suitable accounting policies and then apply them consistently. observe the methods and principals irl the Charitles SORP. make judgement5 and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. The Trustees are responsible forthe maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and di55eminatlon of financial statements may differ from legislation in other jurisdictions. Approved by the Board of Trustees and signed on its behalf by: Mark Gompels Dated: Chair Page 5 of 14

Corrigan Independent Examiner'5 Report to the Trustees of The Showerlng Fund I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 March 2025 which are set out on pages 7 to 14. Responslbilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charity'5 accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my atterition in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act- or the accounts do not accord with those records; or the account5 do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair Vie￿ which is not a matter considered as part of an independent examination. I have no concern5 and have come acmss no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Da t Bsc FCA Corrigan Accountants Limlted 1st Floor 25 King Street Bristol BSI 4PB Date.. Page 6 of 14

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD 1st April 2024 to 31" March 2025 Unrestricted Funds £ 2025 Endowment Funds £ 2025 Total £ 2025 Total £ 2024 Income From: Dividends and interest Uncashed cheques written off Disposal proceeds on investment sales Total Income Expenditure On: Charitable Activities Support costs Investment purchases Gain on investment Movement on grant commitments Total resources expended 32,897 32,897 32,108 146,840 146,840 110,511 32,897 146,840 179,737 142,619 14,1881 16,7481 1131,6961 12,740 110,9361 1131,6961 12,740 110,9791 1108,3481 5,383 {4,188) 1125,7041 {129,8921 {113,9441 Net incoming resources 28,709 21,136 49,845 28,675 Net movement in funds 28,709 21,136 49,845 28,675 Fund balances at ISI April 2024 142,074 808,216 950,290 921,615 Fund balances at 31 March 2025 5t 170,783 829.352 1,000,135 950,290 The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities. Page 7 of 14

STATEMENT OF FINANCIAL POSITION As at 31, March 2025 2025 2024 Notes Investments Quoted securities 796,913 784,173 Current assets Debtors Cash at bank and in hand 6,168 293,284 5,710 263,765 Creditors-. amounts falling due within one year 196,2301 1103,3581 Net current assets I,(K)0,135 950,290 Income funds Endowment funds Unrestricted funds 829,352 170,783 1,000,135 808,216 142,074 950,290 The CIO is entitled to exemption from audit under Section 144 of the Charities Act 2011 for the year ended 31 March 2025. The members have not required the CIO to obtain an audit of its financial statements for the year ended 31 March 2025. The trustees acknowledge their responsibilities for ensuring that the company keeps accounting record5 which comply with section 137 of the Charities Act 2011. The financial statement5 were approved by the Board of Trustees, and authorised for issue, on and were signed on its behalf by= Mark Gompels Dated- Chair Page 8 of 14

NOTES TO THE FINANCIAL STATEMENTS st FOR THE YEAR ENDED 31 March 2025 l. Accounting policies Charity information The showering Fund is a charitable incorporated organisation registered with the England and Wales Charity Commission. The registered offlce is Pathology Sciences Phase 2 Level 2, North Bristol NHS Trust, Southmead Hospital, Southmead Road, Westbury-on-Trym, Bristol, BSIO 5NB. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Articles of Association and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2019. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared underthe historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial nstruments at fair value. The principal atcountinE policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustee5 continue to adopt the going concern basis of accounting in preparing the financial Statements. Funding ha5 been carefully considered and will be raised for discussion at all trustee meetings but is not currently considered to cause significant difficulties for the charity in this regard. 1.3 Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Endowment funds are investments made by the charity in which the earnings are used to fund its operations. 1.4 Incoming resources Investment income, comprising dividends and interest, is recognised when the charity is entitled to the income and the amounts can be measured reliably. Income is recognised on an accruals basis using the effective interest method. Gains and losses on the disposal of investments are recognised at the point of disposal and represent the difference between the sale proceeds and carrying value. Page g of 14

1.5 Resources expended Income and expenses are included in the financial statements as they become receivable or due. Expenses include VAT where applicable as the charity cannot reclaim it. 1.6 Investments Fixed asset investments are measured at market value. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. Other short-term liquid investments with original maturities of three months or less, and bank overdrafts. 1.8 Financlal Instruments The charity has applied the provisions of Section 11 'Basic Financlal Instruments, and Section 12'0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recogni5ed in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recogni5ed amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Bosicfinanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as ￿ ceivable within one year are not amortised. 8asicSinoncialllabllities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unle55 the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instrument5 are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and 5ub5equently measured at amortised cost using the effective interest method. Pag& 10of 14

Derecognition offinanciol liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Allocation of sUPPOrt costs support costs are these functions that assist the work of the charity, but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, and governance costs, which support the charity's projects and activities. 2. Critical accountlng estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgement5, estimates and assumptions about the carrying amount of assets and liabilities that are not readilv apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accotjnting estimates are recognised in the period in which the estimate 15 revised where the revision affects onlv that period, or in the period of the revision and future periods where the revision affects both current and future periods. 3. Income Unrestricted funds Endowment funds Total 2025 Total 2024 Dividends 28.823 28,823 28.303 Interest Uncashed cheques written off Disposal proceeds on Investment sales 4,074 4,074 3,805 146,840 146,840 110,511 Totals 32.897 146,840 179,737 142,619 4. Charltable actlvitles Unrestricted funds Endowment funds Total 2025 Total 2024 No new grant expenditure Totals Page11 of14

1. Support costs Unrestricted funds Endowment funds Total 2025 Total 2024 Trustee indemnity insurance Investment management fees Accountancy fees Other support costs Totals 560 560 6,748 2,160 1,468 10,936 470 7,577 1,800 1,132 10,979 6,748 2,160 1,468 4,188 6,748
2. Investments Quoted securltles Investment portfolio b/f Investment gains/llossesl Investment portfolio c/f 784,173 12,740 796,913 Totsl Investment 2025 Total Investment 2024 796,913 784,173
3. Debtors 2025 £ 499 5,669 2024 £ 402 5,308 Accrued interest Accrued income Totals 6,168 5,710

4. Credltors 2025 £ 2,040 2024 £ 1,800 1,471 100,087 Accruals Other creditors Grant commitments Inote 91 94,189 Totals 96,230 103,358 Page 12of14

5. Grant commitments Balance at 31 Mar 2024 Grants made Grants paid Grants cancelled Balance at 31 Mar 2025 SF118 SF125 SF127 SF129 SF130 SF131 SF133 SF134 SF135 Total 4,917 9,303 9,471 9,865 14.935 15,000 12,624 13,233 10,739 100,087 4,917 9,303 9,471 9,865 14,935 15,000 12,624 13,233 4,841 94,189 15,8981 (5,8981 SF118- The clinical utility of exome sequencing approaches and the functional evaluation of possible pathogenic variants- Maggie William5 SF125 The clinical utility of Whole Genome Sequencing IWGSI in Rare Inherited Disease5 - Maggie Williams SF127 - A hi5topathological resource for head and neck cancer- Miranda Pring SF129 - Assessment of Optical Genome Mapping to improve diagnostic yield in childhood leukaemia - Chris Wragg SF130 The clinical utility of RNA-seq to support the interpretatlon of rare genetic variants in diagnostic practice Celia Duff-Farrier SF131 Comparing heat-moisture exchange filter IHMEFI and lower respiratory tract ILRTI microbiomes in mechanically ventilated adult patients (with and without COVlD-191 and their impact on clinical outcome - Maha Albur SF133 - Clinical impact of Biofire Pneumonia Plus in the management of suspected lower respiratory tract infection lin ITUI - Peter Muir SF134 - Clinical utility of Whole Genome Sequencing IWGSI to detect unidentified PAH variants in Phenylketonuria patients Rebecca Whittington SF135 Developing a laboratory methodology for Favipiravir concentration measurement and pharmacokinetic evaluation in a range of viral infections Alan Noel P89e 13 of14

6. Endowmentfunds The income funds of the charlty include endowment funds comprising the market value of the quoted securities investment portfolio and the cash funds.. Investment portfolio blf Investment gains111055esl Investment portfolio clf 784,173 12,740 796,913 Investment cash account blf Investment disposals Investment purchases Investment management fees Investment cash account clf 24,044 146,840 1131,6961 16,7481 32,440 Total Endowmentfund 2025 Total Endowmentfund 2024 829,353 808,216

7. Related party transactions No related party transactions have been identified in the year.
8. Trustees None of the trustees lor any persons connected with theml received any remuneration nor were reimbursed any expenses during the period.
9. Employees There were no employees during the period. Page 14 of 14