  Pulsed beams have tremendous advantages for precision experiments with cold
neutrons. In order to minimise and measure systematic effects, they are used at
continuous sources in spite of the related substantial decrease in intensity.
At the European Spallation Source ESS these experiments will profit from the
pulse structure of the source and its 50 times higher peak brightness compared
to the most intense reactor facilities, making novel concepts feasible.
Therefore, the cold neutron beam facility for particle physics ANNI was
proposed as part of the ESS instrument suite. The proposed design has been
re-optimised to take into account the present ESS cold moderator layout. We
present design considerations, the optimised instrument parameters and
performance, and expected gain factors for several reference experiments.
