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..
chloe.whitlock@nbt.nhs.uk
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

5. 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
6. 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
7. Debtors
2025 £
499
5,669
2024 £
402
5,308
Accrued interest
Accrued income
Totals
6,168
5,710
8. 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

9. 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

10. 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
11. Related party transactions
No related party transactions have been identified in the year.
12. Trustees
None of the trustees lor any persons connected with theml received any remuneration nor were
reimbursed any expenses during the period.
13. Employees
There were no employees during the period.
Page 14 of 14