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2023-03-31-accounts

Charity Registration No. 1002973 Company Registration No. 2609219 (England and Wales)

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee and having no Share Capital) Trustees’ Report and Accounts For the Year Ended 31 March 2023

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Reference and Administrative Information

Company Number 2609219 (England and Wales)
Charity Number 1002973 (England and Wales)
SC040878 (Scotland)
Legal Status The organisation is a charitable company limited by guarantee and as
such is governed by its Memorandum and Articles of Association.
Board of Trustees Jason Parker (Chair)
Charlotte Witteridge (Vice-Chair)
Calvin Sellers (Treasurer)
Alexander Burrows
John Calder
Caroline Farrar
Neil James
Amy Overend
Fauzia Paize
Tania Seale
Mala Shah-Coulon
Chief Executive Caroline Lee-Davey
Company Secretary Kay D’Cruz (resigned 30 April 23)
Registered Office 10-18 Union Street
London
SE1 1SZ
Auditor Sayer Vincent LLP
Invicta House
108-114 Golden Lane
London
EC1Y 0TL
Bankers Lloyds Bank PLC
3 St George’s Road
London
SW19 4DR
Solicitors Mishcon de Reya LLP (until Jul 23)
Africa House
70 Kingsway
London
WC2B 6AH
CMS Cameron McKenna Nabarro (from Aug 23)
Cannon Place
78 Cannon Street
London
EC4N 6AF

Contents

Page
Trustees’ Report 1
Statement of Trustees’ Responsibilities 19
Independent Auditor’s Report 20
Group Consolidated Statement of Financial Activities 24
Balance Sheet 25
Statement of Cash Flows 26
Notes to the Accounts 27

Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Trustees’ Report for the Year Ended 31 March 2023

Introduction from the Chair and Chief Executive

We have been proud to start delivery of our new three-year strategy this year, and to make significant progress in our cross-cutting theme of tackling health inequalities. This has involved starting to build new partnerships with a range of new and different organisations and working closely with them to develop and adapt our services to meet the needs of a broader range of families, as well as publish new research into the neonatal experiences of South Asian families. There is much for us still to do, but we have been pleased at the achievements we have already delivered in this area and look forward to deepening our partnership work and expertise in future years to make even more of a difference for all babies born premature or sick.

A real highlight this year has also been our campaigning work to take the Neonatal Care (Leave and Pay) Bill through Parliament, working closely with Stuart McDonald MP who introduced it as a Private Member’s Bill, as well as MPs and peers from across both Houses. This Bill is due to receive Royal Assent early in 23/24, and when implemented will make a huge difference to parents with babies in neonatal care. It has been a longstanding campaign goal for Bliss to deliver a statutory entitlement to paid time off for parents when their baby is in neonatal care, and our work to realise this for families in future has been an enormous source of pride for us all this year.

For families with a baby in neonatal care today, we have continued to innovate in how we best deliver information and support, and in particular have developed our digital support further to ensure we remain accessible in the ways that parents most need us. We have also worked closely with neonatal units across the UK on progress through the Bliss Baby Charter accreditation scheme, which supports health professionals to deliver truly family-centred care. We continue to support cutting-edge research at Oxford University into the measurement and management of pain in premature babies, and have been awarded funding to develop parent resources on this topic which will ensure key findings reach the frontline next year to have a direct impact on care.

Towards the end of the year, we were delighted to move into office space within the building owned by the Royal College of Obstetricians and Gynaecologists, alongside many of our charity peers and partners. Not only is this a fantastic working space for our brilliant staff team, it also provides opportunities for us to strengthen our collaboration with other charities in our sector, and we look forward to building these relationships over the coming years.

We are, as always, extremely grateful to all those who have supported our work this year in so many different ways – individual supporters, campaigners, volunteers, health professionals, partner organisations and funders – and without whom our work simply wouldn’t be possible. Given the external economic challenges facing all of us, it is even more humbling that our many incredible supporters have continued to donate and fundraise for us this year. It is an extraordinary honour for us to lead this organisation, and we are proud to work with such a dedicated team of staff, volunteers and supporters doing everything we can to ensure that every baby born premature or sick across the UK has the best chance of survival and quality of life.

Caroline Lee-Davey Chief Executive

Jason Parker Chair of Trustees

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

The Directors of the Charity (who are the Trustees of the Charity for charity law purposes) present their report and the audited financial statements for the year ended 31 March 2023.

The Trustees confirm that the annual report and financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 and the requirements of 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 (FRS 102).

Structure, governance and management

Governing document

Bliss - the National Charity for the Newborn is a company limited by guarantee, incorporated on 9th May 1991 and governed by its Memorandum and Articles of Association, last updated on 26th January 2011. It is also registered as a charity with the Charity Commission, date of registration 20[th] May 1991.

Members of the charity are limited to the serving members of the volunteer Board of Trustees at any given time, who are limited to a guarantee of £1 each in the event of the charity being wound up.

Bliss has two wholly owned subsidiaries: Bliss Sales Limited, the principal activity of which is trading operations that enhance the aims and objectives of Bliss, with available profits gift aided back to Bliss; and Bliss Scotland (Charity) Limited, which is a company limited by guarantee in Scotland and a registered charity in Scotland, the principal activity of which is to carry out Bliss’ aims and activities in Scotland.

Appointment of Trustees

As set out in the Articles of Association, the Chair of the Board of Trustees is elected by the members of the Board. When Trustee vacancies arise on the Board these are openly advertised, and the appointment of new Trustees is made following an application process including interview by members of the Nominations Committee, and approval by the whole Board. When considering appointments, the Nominations Committee consider the diversity of the current board of Trustees in terms of skills and experience, geographic representation, age and ethnic background; and we continually aim to increase the board’s diversity.

Trustee induction, training and evaluation

New Trustees have a comprehensive induction coordinated by senior staff and fellow Trustees; this includes, for example, time spent with staff to find out about the work of the Charity, a visit to a neonatal unit, and buddying with an experienced Trustee. All Trustees are offered ongoing training as required, as well as regular opportunities to engage with the Charity’s staff team, beneficiaries, stakeholders and supporters.

Each Trustee has an annual review conducted by The Vice-Chair undertakes a regular review of the Chair, incorporating input from all Trustees and the Senior Management Team (SMT). Once every three years, there is an externally facilitated board evaluation; during 2022-23 this comprised a board review, training and development session that specifically focused on equity, diversity and inclusion.

Organisation

The volunteer Board of Trustees is responsible for the overall governance and direction of the charity. The Senior Management Team meets regularly and reports to the Board through the Chief Executive.

During the year the Board comprised 11 Trustees overall, including a Chair, Vice Chair, and Treasurer. Trustees are all members of the Board and at least one sub-committee. The Board met six times during the year; our two primary sub-committees are the Finance, Risk & Fundraising Committee, which met six times during the year; and the Impact & Delivery Committee, which met three times.

During the year our meetings were held in hybrid style, with some Trustees attending by videoconference; with the exception of the annual Board away day which was held fully in person. The Chief Executive and SMT attend

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

meetings of the Board and its sub-committees. Bliss Scotland and Bliss Sales Ltd have separate Boards; the Directors of Bliss Sales are made up of Bliss Trustees and one member of Bliss SMT, and the Trustees of Bliss Scotland during the year comprised two Trustees who are also Trustees of Bliss, and two independent Trustees. Trustee attendance at Board meetings was 72 per cent this year (2022: 92 per cent).

All Trustees are on fixed terms of office of four years and typically serve up to two terms. The following served as Trustees during the period 1 April 2022 to 31 March 2023:

Alexander Burrows John Calder Caroline Farrar Neil James Amy Overend Fauzia Paize Jason Parker (Chair) Tania Seale Calvin Sellers (Treasurer) Mala Shah-Coulon Charlotte Witteridge (Vice Chair)

Related parties and co-operation with other organisations

None of the Trustees has any beneficial interest in the company. As members, they each have a potential individual liability of £1. There are no Trustees’ interests to be disclosed.

See notes 9 and 20 to the accounts for further information.

Charity Governance Code

Bliss continues to apply the Charity Governance Code. During 2021-22 the Board developed and approved an internal controls and governance checklist to ensure effective oversight of key internal controls, and this was fully updated and reviewed by Trustees during the year to ensure we were maintaining our high standards around governance.

Risk management

The Trustees review the major risks facing the Charity on a regular basis, monitoring reserves and reviewing key financial systems to ensure sufficient resources are available to meet our obligations in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to manage significant risks.

Key risks to the Charity include:

The systems of control and activities to minimise risk include:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

The Trustees ensure that the management of risk is ongoing and embedded in management and operational procedures.

Public benefit

Section 17 of the Charities Act 2011 contains a legal requirement that all charities’ aims are for public benefit. The Charity Commission in its “Charities and Public Benefit” guidance states that there are two key principles to be met in order to show that an organisation’s aims are for public benefit:

  1. There must be an identifiable benefit

  2. Benefit must be to the public or a section of the public.

Regular evaluation of Bliss’ work demonstrates the clear and positive benefit that we have on tens of thousands of babies, their families and the healthcare professionals who care for them. This is particularly through:

We aim to regularly evaluate the impact and effectiveness of our work through a process of measurement and evaluation led by SMT and managers, which is reviewed by Trustees periodically at meetings of the Impact and Delivery Committee and of the full Board. This year we worked with an external consultancy to develop a new impact framework, to enable us to measure and report on our impact for babies more systematically in future.

About Bliss

Bliss was founded in 1979 by a group of concerned parents who discovered that no hospital had all the equipment nor the trained staff it needed to safely care for premature and sick babies. Determined to do something, these volunteers formed a charity to give vulnerable babies the care they deserve. Over 40 years later, Bliss has grown into the UK’s leading charity for babies born premature or sick.

Our vision:

That every baby born premature or sick in the UK has the best chance of survival and quality of life.

Our mission:

Bliss champions the right for every baby born premature or sick to receive the best care. We achieve this by empowering families, influencing policy and practice, and enabling life-changing research.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Our values:

Trusted

We are entrusted to give voice to all babies born premature or sick. We believe that trust is earned and our actions must always be based on what is best for babies.

Supportive

We believe that developing supportive relationships is at the heart of what we do, and only by supporting others are we able to achieve our goals.

Ambitious

We always go the extra mile to deliver excellence and seek improvement in all we do.

Our strategy

This has been the first year of our 2022-2025 strategy, which explicitly takes a bolder stance in identifying and addressing poor experiences and unequal outcomes amongst the population of babies born premature or sick, and their families, based on an extensive consultation process to inform its development as well as insights gathered through the Covid-19 pandemic. We have therefore set out three underpinning themes across our new strategy:

Our five strategic objectives for the 2022-25 period are:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Review of 2022/23 activities

  1. Campaigning for change : Ensure that national and local policy changes are delivered which improve the staffing, systems and investment in neonatal care; and which enable more parents to be at their baby’s cotside and to play a hands-on role in their care and decision-making

Our main campaigning focus and priority this year has been working on new legislation to bring forward paid neonatal leave for both parents. We worked closely with Stuart McDonald MP on his decision to introduce the Neonatal Care (Leave and Pay) Bill as a Private Member’s Bill in July 2022, and have done extensive policy and campaigning work throughout the year as this legislation progressed through a number of different parliamentary stages. This work has involved:

We are delighted that the Bill is due to receive Royal Assent early in 23/24, and are incredibly proud of the difference this new entitlement will make for families with a baby in neonatal care when it is implemented.

This year we have also continued to be the voice of babies needing neonatal care at national level, inputting into and influencing policy to drive improvements in care. This has included continuing to play an active role on the Neonatal Implementation Board, which is responsible for overseeing a five-year programme of neonatal transformation in England; as well as representation on the NHS England Neonatal Critical Care Clinical Reference Group, the Best Start Implementation Board in Scotland, and on the British Association of Perinatal Medicine (BAPM) Executive Committee, among others.

Other policy activity undertaken this year included Bliss being announced as a Core Participant, along with 12 other pregnancy and baby charities, within Module 3 of the UK Covid-19 Inquiry. This is a significant opportunity for Bliss to be able to give evidence and help push for recommendations from the inquiry, drawing on our insights from parents and health professionals during the pandemic, and will be a focus of policy work in the coming years.

  1. Supporting all neonatal families : Provide information and support for all families with a baby in neonatal care which helps them to be better informed, more confident, less isolated, and more involved in their babies’ care and decision-making

Evidence is very clear that parental involvement in neonatal care is essential to support improved outcomes for babies born premature or sick, as well as for attachment and bonding as a family. Bliss’ work to support parents of babies born premature or sick focuses on informing, enabling and empowering them to play an active role in their babies’ care and decision-making during their time on the neonatal unit, and we have done significant work to broaden and diversify the range of services we offer this year to ensure our support is accessible to as many families as possible.

Highlights of our work have included:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

to-face support on the neonatal unit for parents. Across these three core services we supported 4,402 families over the course of the year

During the year we also secured a £50k grant from NHS England to develop an information and communications campaign for families around common winter illnesses, as part of wider work to reduce winter pressures on the NHS. This was a significant undertaking delivered at pace, with notable highlights being:

Our impact monitoring this year has shown that:

3. Improving care for babies : Drive excellent and equitable care for every baby in every neonatal unit

In order to deliver the best outcomes for babies, it is important that neonatal units follow best practice in both parental involvement and developmental care. The Bliss Baby Charter was designed to standardise high quality family-centred care across the UK. It is a practical framework for neonatal units to self-assess the quality of the family-centred care they deliver against a set of seven core principles.

We now have 88 units (out of a total of 191 across the UK) signed up to the paid-for model of the Bliss Baby Charter; with 94% of UK neonatal units in total registered for and working on the Baby Charter. There has been significant engagement and activity on the Baby Charter from these units across the year, with 63 audits received and 6 assessments undertaken, meaning that by the end of the year a total of 17 units had Gold or Platinum accreditation.

This year we have also started a pilot project to develop Bliss’ approach and contribution to the ongoing development of the Family Integrated Care (FICare) model within the UK neonatal community. FICare overlaps

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

with and builds on the family-centred care model at the heart of the Baby Charter and draws on international evidence to develop further ways in which parents can be supported to be partners in their babies’ care, to improve babies’ outcomes. We have been working closely with the Luton & Dunstable neonatal unit – together with both parent and professional advisory groups – to explore how Bliss can best support emerging practice in this area, and will be continuing to develop this work in the coming years.

This year we have continued to support health professionals in a number of different ways, including:

This year we were also pleased to receive funding from NHS England, through the Maternity Consortium within the Health and Wellbeing Alliance, to deliver a project on reducing inequity in neonatal care service provision. This project involved:

This project culminated in a webinar being held in March 2023 on ‘Inequity in neonatal care: using communication to provide more equitable care’, with 250 registrations, 42 attendees on the day, and more than 220 views of the webinar recording subsequently.

4. Putting research into practice : Put parents’ and babies’ voices at the heart of research, and use new evidence to inform tangible improvements in care on the ground

This year, the Oxford University research project funded by Bliss – looking at the measurement and management of pain in premature babies – continued, with a focus on completing recruitment to the randomised controlled trial looking at the impact of parental touch on the management of pain in babies. The data from this trial has now all been collected, and we will be working with Oxford University around the promotion and dissemination of the results later in 23/24. We were also pleased to be awarded funding by Oxford University – via a Wellcome Trust grant – to develop a suite of information resources for parents on the role of parental touch in comforting babies during painful procedures on the neonatal unit, to be launched alongside the research findings in 23/24.

In addition, Bliss continues to support a number of other research projects with parental involvement, ensuring that parents’ views and experiences are at the heart of neonatal research to ensure they best reflect and meet the needs of current and future generations of babies. These include projects on subjects as diverse as: the best way to feed babies born between 30 and 33 weeks to keep them healthy in the long term; understanding more about how many babies who have spent time in neonatal care go on to be admitted to paediatric care, and their

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

experiences; and linking data sources to understand more about the long-term outcomes of babies born premature. Bliss also remains closely involved in key national long-running neonatal research programmes, sitting on the Project Board of the National Neonatal Audit Programme (NNAP) and on the Steering Board of the National Neonatal Research Database (NNRD).

Bliss has also published its own primary research this year with South Asian parents who have experienced neonatal care, as part of our focus on deepening our understanding of the breadth of different neonatal experiences, to inform both our own services and our policy work. The resulting report, “South Asian families’ experiences of neonatal care” , was based on a survey of over 70 parents, and 16 in-depth interviews. This research highlighted some of the specific challenges and barriers faced by neonatal parents from a South Asian background, including issues around cultural assumptions made around fathers, the lack of understanding around needs for privacy and modesty, and the particular issues facing parents who do not speak English as a first language. We were pleased to secure coverage for this report in publications specifically focused on the Asian community - The Eastern Eye, Garavi Gujarat and Asian Times - to help extend our reach with families in these communities.

  1. Working with our amazing supporters and staff : Build the organisational infrastructure and workforce to enable Bliss to make the biggest difference for babies born premature or sick.

Underpinning our direct delivery work to support babies born premature or sick and their families, health professionals, policymakers and researchers, behind the scenes we have continued to work with a range of partners and our many individual supporters to generate income; as well as strengthen our internal processes and infrastructure to ensure our public-facing work is as impactful as possible. Some of the many and varied highlights of these strands of our work have included:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

positions us well for future partnership and collaboration with many of the other charities co-located in the building.

Plans for the future

In 23/24 we will be continuing the delivery of our five strategic objectives, with a particular focus on the following areas:

We will start the 23/24 financial year in a strong financial position, and throughout the year will be continuing our long-term planned approach to spending down our excess reserves. Back in April 2020 we were fortunate to receive a very generous £1 million unrestricted donation: this was very early in the Covid-19 pandemic when there was considerable uncertainty over our usual fundraising streams, and it also followed several challenging years financially for Bliss, when our reserves had depleted to below target levels.

Against this internal and external backdrop Bliss’ Trustees took the decision to implement a phased spend-down of this extraordinary donation over a number of years, to provide sustained assurance against a challenging external environment which affects our fundraising – this has shifted from the pandemic through to the cost-ofliving crisis – and has enabled us to continue to build our core services while also investing in different areas of fundraising to diversify our income streams and help deliver financial sustainability over the long-term.

This investment will continue in 23/24 – with a particular focus on investment in trust fundraising to improve our fundraising ratio and long-term stability, as well as in campaigning to maximise our impact, and in user involvement to underpin our focus on tackling health inequalities – this will conclude in 24/25 to spend down our excess reserves in full at the end of our current strategy period.

This phased spend-down has particularly focused on:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Thanks and acknowledgements

We would like to extend our thanks to the following organisations who have supported our work this year:

Adint Charitable Trust Garfield Weston Foundation The Christopher Laing Foundation
Angelcare Goldman Sachs The Elsie Lawrence Trust
Astra Zeneca Helianthus Charitable Trust The Gilbert & Eileen Edgar
Foundation
Barratt Developments Plc
Charitable Foundation		 Janssen The Kit Tarka Foundation
Boo Hoo London Bridge City The Lambs Hill Trust
Buxted Construction Mathias Hieber The Meikle Foundation
Charisnack Mishcon de Reya LLP The National Lottery Charity Fund
Chiesi Ltd My First Years The Ronald Miller Foundation
Childbase Partnerships NHS England The Russell Trust
Countryside Partnerships Pampers The Sandra Charitable Trust
Danda Charitable Trust Sainsburys The Souter Charitable Trust
DWT Cargill Fund Sands Thomas J Horne Memorial Trust
Emile et Rose Scottish Government Best Start
Programme		 Vera Outhwaite Charitable Trust
Enterprise Holdings Foundation Scottish Government Improving
Health & Wellbeing		 Vitabiotics
Ernst & Young The Annett Charitable Trust WaterWipes
Fabulosa The Appletree Trust Yard B
Fundraise Together The Charity of Stella Symons

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

As ever, we are phenomenally grateful to all of Bliss’ incredible supporters who have supported Bliss over the last year, without whom we simply wouldn’t be able to achieve what we do for babies born premature or sick. So many people have walked, run, jogged, skydived, walked their dogs, baked, and undertaken any number of other challenges to raise much-needed funds for Bliss, and their ongoing commitment to supporting our work is truly humbling – thank you.

Through our fundraising, we aim to improve the financial resilience and sustainability of Bliss so that we can help as many of the 90,000 babies who need neonatal care each year as possible. Our supporters are vital to us reaching our goal of helping every single one. Our fundraising approach to achieving this is to ensure:

We also pay tribute to our incredible team of Bliss volunteers, whose contribution across many different areas of our work has made such a difference over the last year; whether that was through supporting families, sharing their stories in the media, campaigning, or raising awareness of Bliss. Among these we would like to thank our dedicated Board of volunteer Trustees, who have again gone above and beyond to ensure we are making the biggest difference possible for babies. We would also like to take this opportunity to thank our amazing staff team, each of whom delivers their work with passion and dedication to improving the lives of babies born premature or sick every single day.

Finally, we would like to offer our sincere thanks to the following organisations that have supported our work over the past year, as well as the many hundreds of families, doctors, nurses and other individuals who continue to make such a difference to our work:

Black Mums Upfront British Association of Perinatal Medicine Cultural Intelligence Hub Department of Health and Social Care EFCNI The FINE Faculty Institute of Health Visiting LGBT Mummies National Neonatal Audit Programme National Perinatal Epidemiology Unit Neonatal Data Analysis Unit Neonatal Nurses Association Netmums NHS England NHS Race & Health Observatory NIDCAP Training Centre Pregnancy and Baby Charities Network Royal College of Midwives Royal College of Nursing Royal College of Obstetricians and Gynaecologists Royal College of Paediatrics and Child Health Sands The Kit Tarka Foundation

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

The Lullaby Trust The Motherhood Group The Raham Project The Smallest Things TinyLife Together for Short Lives Twins Trust

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Financial Review

At the end of the 22/23 financial period, we are delighted to have progressed with the first year of our new strategy and held our finances on a solid base, ending the year with unrestricted funds carried forward of £831k. Our strong reserves position provides a good level of assurance that the charity can mitigate the risks that we face, and through the provision of regular, detailed financial information to inform effective management of our finances and adapt to the changes in the internal or external environment that may arise. We also have a strong cash position, with cash and investments totalling £944k, and continue to operate without needing to maintain an overdraft facility with our bank.

Notwithstanding our strong overall financial position, just as for many charities 22/23 has been a challenging year in terms of the external economic environment, and this has been felt keenly within fundraising as supporters have felt cost-of-living pressures and our corporate partners are understandably approaching funding considerations with caution and a greater lead time; and we ended the year with an overall fall in income of £102k compared to 21/22. We are pleased however, that despite this backdrop our total income remains solid at £2,288k, with some gains and some losses compared with the previous year.

Unrestricted income is a little lower than the prior year at £2,029k (21/22 £2,052k) with gains in some areas offset by a downturn in others.

22/23 saw a £210k increase in unrestricted income from donations and legacies from £753k to £963k following successful charity of the year partnerships with our corporate supporters, core funding from trust and foundation grants and generous donations from legacies. Donations from individuals via payroll giving schemes and one-off contributions fell during the year with the cost-of-living squeeze.

Unrestricted income from other trading activities, which is our largest fundraising area, has fallen by £240k from £1,262k to £1,022k. Notably within that area money raised through sporting and community activities has fallen by £156k (22/23 916k, 21/22 £1,072k) which largely reflects a reduction in income raised from virtual challenges. The virtual challenges held during the year suffered from cost-of-living pressures, which reduced the ability of participants to fundraise to the same level as the prior year and in quarter 3 was impacted by technical issues with our platform provider which affected many charities running virtual challenges at this time. For Bliss this meant a reduction in the number of participants recruited to our virtual challenges and adversely affected the confidence of our participants’ supporters to donate.

Also, within this area of unrestricted income Bliss Sales trading income has fallen by £85k to £105k (21/22 £190k) as the external economic turbulence created more caution amongst our corporate partners and meant we faced longer lead times to securing corporate partnership agreements. Despite the challenging environment we were delighted to secure £57k of corporate sponsorship income for our Milestone cards, promoting awareness around World Prematurity Day, and webinars to support neonatal healthcare professionals. A further £45k (21/22 £63k) of income was generated from mutually supportive corporate trading agreements.

Our income restricted to specific charitable activities has fallen by £78k in 22/23 (22/23 £259k, 21/22 £337k) and although we have continued to receive significant income to support our work in different areas it is of note that prior year income was particularly boosted by a £150k grant from NHS England for neonatal information and support around RSV. This year over winter 22/23 we were pleased to work again with NHS England and we received a £50k grant to provide information and support around winter illnesses and their impact on neonatal babies.

In 22/23 we have received continued support from the Scottish Government, who have supported our work to drive quality improvement on neonatal units through our Baby Charter audit and accreditation scheme, providing a grant of £44k (21/22: £47k,) as well as a grant of £15k (21/22: £19k) to fund our volunteer, information and support work in Scotland. In addition to this support our Baby Charter accreditation scheme has continued successfully in 22/23 generating an income of £23k (21/22 £10k) from NHS trusts, with many neonatal units advancing their Baby Charter accreditation level during the year.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

We continue to partner with research institutions to provide well regarded evidence and support for projects and have earned £59k (21/22 £52k) from this work in 22/23. As part of this area income of £24k was received to support research into the barriers faced and support needed during the neonatal period, and we earned a further £35k to develop parent information resources on parental touch which will sit alongside the findings of the Oxford research project on the measurement and management of pain in premature babies.

The Medical Research Council had issued grant funding to Bliss during the previous financial year, to enable charities to continue to support research institutions with their research programmes, and we continue to hold the £50k grant to allow an additional year of funding in 23/24 for our Oxford Pain research project.

Planned expenditure increased again in 22/23 to £2,519k (21/22 £2,478k) as the Board of Trustees and Senior Management Team continued to make best use of the significant donation received in 20/21. In tandem with our 22-25 strategy our intention for 22/23 was to incur a deficit as we use our funds in the very best way possible, to provide vital services to improve outcomes for babies born premature or sick. During the year we were pleased to complete several planned projects alongside improvements to our core work.

In 22/23 we completed our staff base build ending the year with average FTE of 35 (21/22: 34) with our core services and fundraising teams now fully staffed to support our 3-year strategy.

We invested further in our digital capability providing a personalisation tool for parents and carers to access the most relevant information and support to their needs. We also invested in improvements to our online forms to improve the user experience in terms of accessing information and support and reducing barriers to the fundraising supporter journey.

We invested in a new impact framework which enables us to better measure and monitor the impact that our work has on neonatal outcomes, and we will continue to invest in this area in the coming year with GA4 (Google Analytics 4) dashboard reporting to further support our KPI (key performance indicators) data.

We completed our migration to the Raisers Edge CRM system which will enable us to take advantage of consistent information to support our communications and fundraising work and provides the ability to improve our data integration in the future.

We completed our office move to a smaller serviced office space within the Royal College of Obstetricians & Gynaecologists. We are now benefitting from a modern more cost-effective office solution which supports our agile working practices and enables us to benefit from a shared space with charities supporting the parenthood journey.

Following a period of investment our fundraising ratio in 22/23 has risen to 56p in every £1 raised (21/22 50p in every £1) and this reflects the building blocks put in place during the year, notably our move to an integrated CRM system, digital fundraising improvements and investing in our staff base to support the future income pipeline within the corporate partnerships and trust and foundation areas. Some investment has also been made in our sporting and community activities, in particular the virtual challenges where we have engaged third party support to upskill our team and assist with supporter engagement. Alongside this, however, some technical difficulties in virtual challenges this year meant they significantly under-performed against their income targets, which given their relatively high up-front costs contributed to a further negative effect on our fundraising ratio. We are now budgeting for a downward trajectory in our fundraising ratio over the remainder of our three-year strategic period and beyond, through increasing income in higher return areas such as grant income, as well as driving efficiencies in our digital fundraising.

As a result of the investments above Bliss’ charitable spend as a percentage of total expenditure declined this year, from 52p to 49p in every £1 spent on charitable activities with total charitable activity spend marginally reducing to £1,237k (21/22: £1,291k). Although support costs fell by £36k during the year to £694k this was countered by investment in our fundraising capability against an increasingly challenging fundraising environment, which has particularly affected us as so much of our income has traditionally come through community & events and individual giving activity, from supporters with a personal connection to our cause. However, these are now mature areas of fundraising which are expensive and require a lot of investment to maintain and grow, and which have been particularly challenging post-pandemic and during the cost-of-living

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

crisis. We feel it has therefore been the right approach to invest in longer-term income streams to balance our ability to provide professional, high quality and safe services and activities, while ensuring the charity remains sustainable in the long-term. The infrastructure improvements formed part of the 22/23 plan and although we will continue to invest in the future, we intend that our charitable spend ratio will improve as we move our focus in 23/24 to develop our service offering focusing on reaching more diverse beneficiaries and seeking to address health inequalities.

Overall, we made a deficit of £243k against a planned deficit of £402k (21/22: deficit of £63k). We had intended the deficit to be larger in 22/23, as we spent down our brought forward reserves, however although our income was below our plan, expenditure was even lower as we mitigated the income shortfall and pushed back some of our investment ambition to 23/24. Given the backdrop of an ongoing external economic challenge throughout 22/23, which was different in nature to the pandemic challenges of the previous years, we are proud to have carefully maintained and grown some areas of income, alongside developing a capability and agility to navigate uncertainty in the future. We are proud to have delivered improvements across all our charitable activities and achieved a lower deficit than planned to ensure we can continue to invest in the future.

Our plans for 23/24 continue in line with our 22-25 strategy, and as ever we will build on the key learnings from the current year. We plan to incur a comparable deficit in 23/24 as we use our knowledge built from the current year to leverage our fundraising capability and channel the use of funds in the very best way possible, to provide vital services to improve outcomes for babies born premature or sick.

Bliss Scotland (Charity)

Bliss Scotland offers a wide range of support and information to Scottish families and neonatal units. This year the cost of Bliss Scotland’s charitable activities was £72k (21/22: £75k), with total expenditure amounting to £87k (21/22: £86k). This was financed through grant income of £65k (21/22: £67k), £14k from trading activities (21/22: £13k), and £2k from donations (21/22: £21k). No donation (21/22: £0k) was made this year from Bliss to Bliss Scotland. As its parent company, Bliss continues to provide administrative, logistical and fundraising support to Bliss Scotland, and a charge for this is made to Bliss Scotland.

Bliss Sales

Bliss Sales Limited is the trading arm of Bliss, selling goods, brand licensing and sponsorship opportunities to individuals and corporate entities. Bliss Sales Limited produced turnover of £105k (21/22: £190k) and a profit on ordinary activities before corporate gift aid of £64k (21/22: £153k). £64k (21/22: £153k) has been gifted to Bliss (Charity) through the corporate Gift Aid scheme.

Reporting

In order to be able to compare our income and expenditure year on year, and to show most clearly how our income and expenditure is generated and spent across the organisation, we use the following four key areas of work throughout our Annual Accounts.

Reserves policy and going concern

Reserves are held to ensure that there remains enough liquidity to pay our staff and suppliers during times when cash flow fluctuates, to cover the value of our illiquid assets, to mitigate the financial risks we face such as unforeseen interruptions to our operations, to cover possible shortfalls in budgeted income, and to ensure that we can meet our planned spending commitments during the years ahead.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

Bliss’ Reserves Policy assesses the level of risk inherent within Bliss operations and sets out a calculation for determining the target level of reserves needed to mitigate that risk. This policy enables Bliss to determine whether currently held reserves are significantly above or below that target level. Where reserves vary from the target, plans will be made to bring reserves back in line with the target.

At the end of the 22/23 financial period, we are delighted to have progressed with the first year of our new strategy and held our finances on a solid base, ending the year with unrestricted funds carried forward of £831k. Our steady reserves position provides a good level of assurance that the charity can mitigate the risks that we face, and through the provision of regular, detailed financial information to inform effective management of our finances and adapt to the changes in the internal or external environment that may arise.

As set out on p10, our strong financial position in 22/23 was substantively based on receipt of a major one-off donation in 20/21, following which Trustees and SMT went through a rigorous process to develop a plan to spend down this donation over several years with a multi-year spend down planned in particular given the prevailing external backdrop at the time. Bliss’ historic lack of regular multi-year income means that we start each fundraising year with a low level of pledged support. While we intend to change this situation by investing in areas such as trust fundraising, this takes time. In the meantime, our reliance on annual support means that we can be vulnerable if we do not reach our fundraising targets, and our reserves provides reassurance in the interim period as we invest in these longer-term income streams.

In the short-term, however, this impacts the charity’s reserves position, with free reserves £411k above our target of £397k, together with an impact on our fundraising ratio and charitable spend. The trustees set a free reserves target level to cover 6 months office costs, 2 months staff costs, 3 months other expenditure less 3 months of regular giving donations based on the prior 3 months. The Trustees are comfortable to start the year with this above target level of reserves as additional mitigation against the risks inherent in the external environment, and a full review of the reserves required in line with the reserves policy has been carried out during the 23/24 budget process with appropriate levels of additional activity planned for the 23/24 financial year, to bring the actual level of reserves more in line with our agreed policy, and an intention to fully spend down our excess reserves by the end of our current strategic period in 24/25.

The Trustees have closely reviewed the going concern position prior to signing this report and are of the view that Bliss remains a going concern for the next 12 months, from the date this report was signed; and that there are no material uncertainties related to this.

Investment powers and policy

Bliss’ Investment Policy supports the assessment of appropriate institutions for holding cash, taking into consideration risk, liquidity and our ethical policy.

Most cash balances were held in easily accessible current accounts, or short term (less than 95-day notice) accounts, and £300k invested in a COIF fund. This is shown within current asset investments.

Fundraising regulations

Bliss is registered with the Fundraising Regulator, and all fundraising activities are aligned with the Code of Fundraising Practice to ensure that they are legal, open, honest and respectful. Our values state that in all of our work we aim to be trusted, supportive and ambitious, and these values are enshrined in all fundraising activities and campaigns that the charity undertakes. To reinforce this commitment, Bliss has a number of policies and procedures that underpin its fundraising activities:

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

- Safeguarding Policy

On occasion Bliss works with professional fundraisers or commercial participators to raise funds. When doing so, Bliss undertakes a thorough vetting and compliance process to ensure that all relationships and activities align with the relevant laws and regulations, and with the Bliss policies described above. Contracts and data sharing agreements are signed by all parties in line with current data protection legislation, and strict account management and monitoring processes are in place for all such relationships.

Any individual undertaking to fundraise on behalf of Bliss is given clear guidance on how to fundraise within the law to adhere to the Code of Fundraising Practice, and fundraising activities carried out on behalf of Bliss by third parties are regularly reviewed through dedicated account management, regular communications with supporters and monitoring of social media activity.

Bliss takes all complaints about its fundraising activities very seriously. A clear process for submitting complaints is displayed on our website, and all complaints are centrally stored and reviewed regularly throughout the year by the senior management team. A summary of all complaints received is also discussed and reviewed annually at the Board. In the 2022-23 financial year, Bliss received 32 complaints in relation to its fundraising activities, all of which were responded to and resolved to the satisfaction of the complainants.

Many donors and supporters of Bliss have a strong personal connection to neonatal care that may have come from a difficult personal experience, and as such all employees and third-party fundraisers are trained in how to deal with potentially vulnerable supporters. The Bliss Safeguarding Policy outlines the steps needed to report any safeguarding concerns should they arise.

Pay policy for senior staff

The directors consider the Board of Directors, who are the charity’s Trustees, and the senior management team, to comprise the key management personnel of the charity. They are charged with directing, controlling, running and operating the charity on a day-to-day basis.

The Trustees are not remunerated. The pay of the SMT is benchmarked against pay of similar positions in charities of a similar size and is reviewed bi-annually. The pay policy for senior staff is in line with the pay policy applied to Bliss’ staff, and for the Chief Executive is administered by the Nominations Committee of the Board (comprising the Chair, Vice-Chair and one other Trustee), in consultation with the Treasurer.

Related parties

Details of related party transactions are in note 20.

Disclosure of information to auditors

Each Trustee has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

Auditors

In accordance with section 485 of the Companies Act 2006, Sayer Vincent LLP were appointed as auditors of the company in 2017 and have continued to be appointed for the year ended 31 March 2023.

On behalf of the Board of Trustees.

Jason Parker

Chair of Trustees Date: 13 October 2023

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Trustees’ Report for the Year Ended 31 March 2023

The Trustees, who are also the directors of Bliss for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and group for that year.

In preparing these accounts, the Trustees are required to:

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 accounts comply with the Companies Act 2006. 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 irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 March 2023 was 11 (21/22: 11). The Trustees are members of the charitable company but this entitles them only to voting rights. The Trustees have no beneficial interest in the charitable company.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Independent auditor’s report to the members of Bliss – The National Charity for the Newborn

Opinion

We have audited the financial statements of Bliss – The National Charity for the Newborn (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Bliss – The National Charity for the Newborn 's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information, and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Independent auditor’s report to the members of Bliss – The National Charity for the Newborn

obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Independent auditor’s report to the members of Bliss – The National Charity for the Newborn

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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Bliss – The National Charity for the Newborn (A Company Limited by Guarantee)

Independent auditor’s report to the members of Bliss – The National Charity for the Newborn

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor) Date : 1 November 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

23

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Group Consolidated Statement of Financial Aetiviti•s, including Ineomè and Expenditur• Aecouni For the year ended 31 March 2023 Unr8strictsd funds R8stric Funds Total 2028 Total 2022 Natos Incarn& Donalions and 18gaci@s 3,077 963,077 752,981 guwrting par8nts a￿c￿rerS En9agirywith rn80Trat￿ h8alth prof8s8ionals guppDrting r8s@arch Olh@rtradiry activiti88 Inv8s1rn8nt Irwm8 155,164 155,164 58,L 2S8,972 56,794 23,770 57,874 1,021,572 12,255 68,491 1,262,386 9,845 12,255 Totsl incorn& 2,￿￿,1L 258,842 2,287,950 2,389,469 ExpBnditur Costs of raisiry 1,282,1S6 1,282,156 SU￿rtIng pat8nts a￿￿rerS En9agirywith n80Trat￿ h8alth prof8s8ionals Campaigningforchang@ guwrting r8S@arch 383,505 815,469 241,949 59,883 155,164 531669 360,707 241,￿9 95,823 6SO,943 317,42S 256,091 86,442 Totsl 8xp@￿itur￿ 2,283,962 255,942 2,519,304 2,478,284 Net ￿CL¥￿e} l•xp8nditur81 b8for8trans18rs f25I8541 23,SOD 188.8151 N8t gains/lloss8sI Dn InV88tménts Transf8ts b81w88n funds 25,390 Net incorn81 l•xp8nditurel lorth&y8arand n8t rnowm8rrt in fu￿5 [256,7841 23,SOD 1243,2841 163.4251 Fund balanc85 broughtforyrard Fund balanc85 carri8dforYrard 1,097,$69 1,147,569 904,285 18 73,500 Th8 slat8m@ntDtfinancial activit188 InCI￿8S and Ios888 r8cognis8dduriry lh8 y8ar All Incotrh8 and 8ynditur8 d@riv8 tromcontinuing aBtiviti88 24

Bliss- The National Charity for the Newborn IA Company Limiled by Guaranleel Balance Sheets As at 31 March 2023 Carnpanyno. 02609219 Qraup 2023 Charity 2028 2022 2022 Natos Taryibl@ ass@ts Inv8slrn8nts 22,777 22,777 12 22,777 22,778 Currant D8blots C￿￿￿taSS8t IllV88tm@nt ShDrt I@ThThd8￿￿IS cash at bartla￿ In hand 14 15 217,8 306,345 101,476 $36,676 1,162,297 281.672 31B.275 $00.012 485.972 1.$85.931 200,403 306,945 101,476 533,925 270,047 318,275 300,012 482,173 1,370,507 Cr•ditLYS,'4mDuntsfalling dub within Dn8 ygar 16 80,7891 1295,52S 1271,3541 NetCLrr8ntass8ts 881,5L 1.090.40B 870,795 TDtal as8•ts 1855 currgrrt l1th1it￿s 4,285 1.147.569 893,573 Funds 8StriBt8d fu￿8 Un￿sInct￿d G@n8ral TDtaIfL￿dS 18 73,5LII So.￿0 73,5 50,000 1.097.569 1.147.569 820 073 893,573 4,285 Th8 t￿S188& ha￿ pr8par8d gfDupaccounts in accordanc8 with s8Ction S98 Dtth8 Cotryani88Acl 2006 s8Ction 1S8otth@ Chariti@s Act2011. Th8 accounls w8r8 approv8d byth8 BDard ofTrust888Dn' Trust88'. Ja50n Park•r Dal8-. 13 Octob@r2023 25

Bliss- The National Charity for the Newborn IA Company Limited by Guaranleel Statement of Cash Flows For the year ended 31 March 2023 2023 2022 Natos Cash g•nBratsdfrDml rU￿d inl Dprating aCt￿rt￿5 21 1141,2521 Cashflows from inwstmBnt actiwti8s 12,255 9.845 Purchas@of curr@nt ass@t InV8s1rn8nt Purchas@of laryibl@fix8dass8ts {10.041) Cash pro￿d￿d byllus8d inl I￿￿tIng acti￿*185 16,5701 Cash us8d in linancing actwit￿5 Inc￿¥S8 Ilthcr•as81 Incash cash 8quiYa￿nts during th8 year 199.297} Cash cash 8quiva18nts al th@ b8ginnin9 ofth8 y8ar Cashand cash•quwal8nts atlh88nd of Ihg y8ar 785,984 638,152 885.2SY Cashand cash•quwal8nts consist of.. Cash at bank In hand Short 181rn d8posiIs $36,676 485.972 500.012

Bliss- The National Charity for the Newborn IA Company Limited by Guaranleel Notes to the Accounts For the year ended 31 March 2023 Accounting Polic￿5 Th8 Important InfoThThaliDn. pri￿1P￿ 5￿Counting wlici88 athp18d, judg8m@nts and 8stimal￿n and unc8rtainty in th8 pr8paration of th8 finaTr￿ stat@m8nts ar8 asfollows 1.1 Statutory inforrnation Bliss. th8 Nalional Charity forth8 N8wbom Is a charitab18 company Iimitsd byguarants8 18 Incotporat8d in Eryland and Wa188 Th8 r8gi8t8r8dDthc8 athr8SS 18 10-18 Union Str88t. LO￿D￿ SEI 1SZ 1.2 Basis ol preparation Th8 fina￿la1 stat8rn8nts have b88n pr8pa18d In accordanc8 wilh Accounlin9 and R8portln9 by Chanti8s-. Slat8m@nt of R8COrnm8nd8d Piactic@ ap￿1£able to chariti@s pr8parin9 th8ir accounls In aC£Ordan￿ ￿1h th8 Fina￿la1 Repolling star￿aid applicabl8 Ill th8 UK and Républic of Ir81ar￿ IF￿5 1021- IChant188 sO￿P FRS 1021. Th8 Finarri￿ ￿EportIng Standardapplicab18 Inth8 UK and R8public ol Ir@land IFRS 1021 and th8 Cotnpani8s Acl 20061Chariti@s Act2011 Th8 accoun18 ar8 pr8par8d in st8rlin9. which 18 th8 functional curr8w of Ih@ cha￿Y MDn@tsry amunls In th8s@ fina￿la1 8tst8trh8￿8 ar@ round8d to th8 n8ar8St Ass8ts and Iiabiliti88ar8 Inltially r8cognis8d al historic￿ cD8tDrtran8actionvalu8 un18SS oth8￿ls8 slat8d in Ih@ rel￿aTrt accounting policy ornots. In applyiry th8 linancial r8POrtln9 frarn￿Drk. lh8 trust888 hav8 mad8 a numb8r DI subi8ctiv8 iudg8rn@nts, tor ￿Y￿rn￿8 In r8SP8Ct of significant accountlng @slimat8s Estimatss iudg8trh8nts ar8 Continually 8valual8d and ar8 bas8d Dn historical 8XP8r18llC8 oth8r taclots. IncI￿1n9 8hP8Ctalions of ￿lUr8 8V8nts that ar8 b8118v8d to b8 r8asonab18 ￿￿￿r th8 circumstanc88 Th8 natur8 ol lh8 8slimatlOn m8ans th8 actual oulc0rn8s could diff8r from thD88 88timal@s. Any significant8Stitrhat8s and iudg8rn8nts aM8clin9 th8S@finanBial stat@m8nts ar@d8lail8d within th8 r818vant accountln9 policy b810w. 1.3 PL1>1￿ bon￿1 gntity Th8 chantabl@company rn8818th8 d8finitlOn Dtapublic b￿￿￿￿ 8lltity und8r FRg 102. 1.4 Pr8paration of Ih8accounts on a going concern basis Aft8rr8V18win9 th8 9roup'sfor8castsand proi8Btions th8 Tru8t88s hav8 a r8asonab18 8XP8clationthatth8 group has ad8qUat8 ￿SOurC8S loc0￿1￿￿8 in op8ratiDn exist@￿efDrth8 fores88￿8 f￿￿re. Th8 grow Ih@r@for8 continu88tD adDPtth8 going Co￿@M basis In pr8parin9 Ils consolidat8d fina￿1￿ 8ta18m8nl8. 1￿ Group financial stat•mBnts gi￿rnan￿ ptOC8ss8s A $8paiat8 Stat@m8llt ol Fina￿la1 Activities and IncDm@ and EYpe￿it￿re Account for th8 chaiity has not b88n pr8s@nt8d b8caus8 th8 charity hastak8n athantag8 ofth8 8X8trWIDn afford8dbys8cIIDn 40B ofth8 Compani@s Act2006 1.6 Incorn& Incotrh8 18 r8cognis8d wh@n Ih@tharily has 8￿1t18M8ntto th8 fu￿8, wh8n any wrtoThrhanc8 condi1￿￿S attach8d to It8ms of I￿0￿8 b88n m@t and wh8r8 it i8probzbl@thal incDm@will b@ r￿￿1v8d5￿d Qua￿lfi￿d with r8asonab18 accuracy. Granls r8C8ivabl8 In r8SP8Ct of exw￿lture char98d to th8 Stat@m8nt of Finarrial Activi1188 durin9 th8 y8ar hav8 b88n Indud8d In lh8 Stat8trh8nt Dt FinaTr￿ Activiti@s IncDrn@ trom gov8rnm8nl and oth@r 9rants. wh8th8r'capital' or r8V8nU8' 9rants. Is r8BO9nis8d wh8n th8 chanty has 8ntit18m8llt lo th8 funds. Wh8r8 condiliDnS lo r8c8iving th8 grant n88dtD b8 m@t, I￿0￿8 18 r8cognis8dwh8r8 il 18 prDbzb18that Itwill b8 r8c8iV8d m@a8ur8dwith r8asDnabl@ accuracy For18gac18S, @ntiti@m8llt Is tak@n as th8 8artl8r of th8 dat8 on which 8lth8r th8 charity Is awar@ that probat@ has b88n granléd. th8 8Stat@ has b88n thnalis8d ar otificaliDn has b88n mad8 by th8 8X8C￿Dr& that a distrib￿10￿ will b8 mad@, or wh8n distribution is r8c@IV8d IrDrn th8 8Stat8 R8C81Pt of a 18gacy, In whol@ or in part, Is only consid8r8d probabl@ wh8n th8 amount can b8 m8asur8d r811a￿Y and Ih@ cha￿Y has b88ll llOtifi8d of lh8 8X8culots' Int8nlion lo mak8 a distrib￿lOn. Wh8r8 18gaci@s hav8 b88n notifiéd to th8 charity or th8 tharily Is awar8 of th8 9ranlin9 of prabal@ th8 cri18na lor I￿0￿8 r8CO9nilion hav8 not b88n rn@t. th8 18gaW 18tr@at8da8a co￿l￿8￿ta5s8t5￿d disclos8d If 1.7 Donat8d sor￿co5 Donat8d prol@ssional s8￿1C8S ar8 r8cognis8d wh8ll th8 S8tVlC8 Is giv8n and 18 valu8d as 81th8r Ih@ 8cDnomic of Ih@ S￿￿1c8 to lh8 charity or lh8 Costto th8 thnDr. 1￿ Inv8stm8nts Fixéd ass@t I￿￿tr￿￿￿18 r8pr8S8nl th8 I￿￿tr￿8￿1 h@Id In th8 subsidiary CDrnpany Bliss Sa188 Limit8d by lh8 Charity- AS th8s8 8har88 ar8 unlist8d, th8 tru8t88S consid8rth8 apprDwal@ matk8t valu8 ofth8 Inv8Stm8nl to b8 th8 8quival8nl toth8 origin￿ CD8t. Cutr8nl as88t IllV8s1rn8nts ar@ statsd at matk81 valu8. Unr8alis8d gains and Ioss8s on th@ maluation at th8 b￿anc8 8h88t dat8 ar8 InBlud8d In th8 Stat8M8￿ of 27

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 1.9 Cashand cash•quwal8nts Cash cash 8quiva18llts I￿lUd8 cash In hand, d8posit8 h8ld ak call with banks. oth8r 8hDrt.t8rm liquid iThv@sltrh8nl8 with Driginal malunt188 of Ihr88 months or 1888 Shortt8rm d8pD81ts ar@ h8ld In an in18r8sI b8ariry 95 day accountwith Uoyds. Cash at bank 18 h8ld In a ￿sin85S accDUntat LIDyd8 Bartt PLC Th8 tharily has 818ctsd to 4yly th8 provI￿onS of S8Btion 11 'Basic Financial Instrum8nts' and Sécl￿￿ 12'0th8T Financial InSt￿M￿nIS Is8u88' of FRS 102to all of Financial Instruments ar@ r8cagnis8d Inth8 chariws balaTr￿ sh88t wh@nth8 charityb8cDm@s paty toth8 Colltraclual provisions ofth8 InStrum8llt Financial ass8ts and lia￿litIeS ar@ off88t. wilh th@ n8t a[￿unIS pr888nt8d In th8 financial stat@m8nts. wh@n th8r8 Is a 189ally 8ntorc8ab18 nghl ko s8k off th8 Basic financial assets, which I￿lUde débtots ar￿ cash and bank balan￿s. ar8 Initially rn8asur8d at Iransaction pric8 I￿lUdIng Iransaction cosls ar￿ ar8 subs8qU@ntly catri8d at arnortiséd cost usiry th8 8ff8ctlV8 Int&￿St rn@thod unless th8 a￿￿9￿ment Constit￿8￿ a Iinanciry transaction. wh8r8 th8 transaclion Is trh8asur8d at th8 pr8s8nt y￿U8 01 th8 fulur8 r8C81Pt8 discount8d at a rna￿8t ra18 of Int8r8St. ass8ts clas8ifi8d as r8C8ivab18 within y8ar ar8 ￿t amortiséd. wh@r@ th@ débt Inslrum@nt IS rn8asur8d at th8 P￿Sent valu8 of th8 f￿Ure f8C81Pls discountsd at a mark@t rat8 of Int&￿St Financial Iiabilili88 classrfi8d as payabl8 Ihin ar8 nOtamorbs8d Débt Inst￿￿￿￿18 ar8 subs8qU@ntly carriéd atamolli88d CD8t. u8ingth8 8ff8Ctiv@ Int&￿St rat8 rn8thDd Trad@ cr8ditors ar@ Dbligations to pay for goads or se￿ICe& thal have b88n acquir8d in th8 ordinary CDUTS@ Dt OP8rations trom SUP￿1￿r8 Amou￿8 payabl@ ar8 attransactionpric8 sths8qu8lltly rn@asur8d al amollis8d cost using th8 8ff8ctlV8 in1@￿s1 rn8lhod 1.11 Pro￿51￿nS Prowsions ar8 r8cognis8d wh@n th@ charity has a189al Dr conslrwtlV8 pr888nt obligaliDn as a r88uItDt a past @￿Trt. il Is probabl@ that th8 charitywill b8 r8quir8d to s8tt18 Ihat D￿19all0￿ ar￿ a r@liabl8 8Stima18 can b8 mad@ of Ih@ arnount of th8 obligation Th8 amDUllt r8cagnis8d as a provision is th8 b8St 8Stimat@ of th8 consid8raliDn r8quir8dtD $8lli8 th8 pr888nl abli9ation al th8 r8ponin9 @nd dat8. ￿n9 inlo aBcountth8 rIskSar￿ unC8n￿￿11￿8 sumunding th8 abligation. Wh8r8 th8 8tt8cl of th@ titTh8 valu@ of Is mat8rial, th8 amount 8xwctsd to b8 r8quir8d to s8tt18 th8 ￿￿19ation Is r8CDgnis8d al pr888nl valu@ Wh8n Provi￿0￿ In m8asur8d at pr888nl valu8 th@ unwinding ofth8 discount Is r8cognis8d a8afinanc8 Cost In n8t Ir￿m81(8X￿￿ItUr&l In th8 P8llDd Il ari888 1.12 Tangibl8 lix8dass8tsand thpreciation Tangibl@ IIx8d assets costing mor@than ￿5￿ ar8 CaPltalis8d and InBlud8d at cD8t. D8pr8ciation 18 prDvid8d Dn all tangl￿8 fiH8d a8s@t8 al rat88 calculatéd to writ8 off th8 Cost. 18SS 8Stirnat8d ￿sIdUal v￿u8 of 8ach as88t OV8ritS 8YWt8d us8lul lif8. as follows Iitlin98 OV8r 3 y8ais Offic8 a￿Computer8quiPrn￿ DV8r 3-5 y8at8 L8as8hold prop8tty 1.13 Fund4ccounting Unr8slrictsd lunds ar8 availabl@for us8 atth8 discr81ion ofth8 t￿S18&S in th@furth8ranc8 ofth8 98n8ral D￿8ctIVeS ofth8 chanty D@Signat8d funds ar8 unr8Strict8d lunds. which ar@ r8S8tV8d for a sp8cihc pu￿￿8 availab18 fDf us8 at th@ discr@tion of th8 trust888 in th8 furth8ranc8 of th8 g8n8ral 0￿8Cti￿ ofth8 chanty Th8 Pu￿0&8 and us@Dtr8Stricl8dfunds ar8 impDs8d by thnDT8orbyswhBt8rm8Dtchantyapp8als. 1.14 ExpBnditur Expe￿itUre Is r8CD9lli88d onc8 Ih@r@ Is le9￿ or cOnSt￿clrJe D￿19a110￿S to trhak8 paym8llt to a Ihird pany. It Is probabl8 Ihat s@ttl@m8llt will b8 r8quir8d th8 amounl of th8 obligation can b8 m@asur8d r@liably. Eup8nditur@ Is classif18d as 81th8r th8 costs of raisiry funds. charitab18 8hP8ndilur8 or oth@r exw￿lture that nDI fall Into th8 Iirsl two cat8gori@s. Itr8CDV8rabl8 VAT 18charg8d as acosl againstth8 aclriity torwhich lh8 8xp8nditur8 was InCu￿d 1.15 $Wrta￿ guv8rnanc8costS Supportcosts ar@costs thal assistth8 Worttof th8 charity notdir8Ctly und8rtak8 Its a￿1VIll￿￿ GDV8rnanc8 CDSt8 ar8 cosls dir8Ctly attrIb￿a￿8 tD th8 running ofth8 BDard Both th888 costs hav@b88n allacat8d b@tW88ll th8 CD8t Dt￿81￿9 funds andcharilabl@ activit18son lh8 basis ofth8 Statttitrh8 SP8llton 8ach aclriity.

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 1.16 OpBrating @ntals ￿￿￿r op8ratiry18a888 ar8 charg8dtD Stat8m@ntDt Financial Activi1188 as I￿urr8d. 1.17 Tax status Th8 COtTrpany Isa r8918t8r8d charityand 18 ￿t 8ubi8Ctto cotporationtaK 1.18 Valu8 AdthdT4x Th8 chanty Is r8918tsr8d und@r a partial 8X@mption sch8m@ fDr VAT and as wth many oth8r tharili8s. Is unab18 to r8CDV8r mosl of th8 VAT charg8d on Its 1.19 ￿nSIOn sch8 Th8 charitabl8 compaw op8rat88 a d81in8d conlnbulion p8nsion sch8m8. Th8 ass@ts of Ih@ sch8m@ ar@ h@Id s8parat8ly Irom th088 of lh8 charitabl8 cornpany In an 1r￿8p￿r￿8￿tlY adrninist8r8d fur￿. Th8 P8nsion cost charg8 r8p￿se￿￿ Contrib￿lOn￿ payabl@ und8r Ih@ by th8 chantab18 company to th8 fund Th8 charita￿8 CDrnpany has nD lia￿lIty und8rth8 8th8m8 Oth8r Ihan fDrth8 Paym8nl ofthos8 conthbu1￿￿s. NocOntrib￿l0Trs w8r8DMn9 atth8 balanB8 8h881 daté. 1.20 Grantgiwng policy Th8 charily accasionally prowd@s grants tor proi8cts thal hav8 th@ pOte￿la1 lo ImprDv8 0￿COm8s tor pr8matur8 and sick bab18s. Grants ar@ r8cognis8d in accordanc8 ￿1h th8 applica￿8 accDunlin9 slandard. 1.21 Volunts8rs Th8 assIstar￿ r8￿lv8dfrorn volu￿8￿rS has notb88n fIna￿1￿lY r8cognis8d Donations and ￿9￿cloS 2023 2022 Unr8strictsd 92,850 284,829 20,181 882,231 158,1 39.102 121.687 6.244 376.087 co￿Oral8 fu￿1 Dona18d pro18ssional Se￿1c@S L8gac18S 29.761 752.981 953,077 Donat8d prof8ssional s@PllC8s of E20,181 12022 £6.2441 r81at8StD pro-￿nD 189al worttcatriéd outon b@half DI Blissby MishcDn d8 R8ya LLF ar￿ pro-bo d8si9n woth catri8d outon b@half ol Blissbyyard Bwhich ar8 r8COgnis8d wh8ll th8 $8MC8 Isgiv8n ar￿ ar8 V￿U8d as 8lth8r lh8 8conornic b8ll@fitof lh@s@￿IC8tD th@tharily orth@costto lh8 dDnOr.

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 Incorn&frarn charitabl84ctiwti8s 2023 2022 H8strict8d SuppDrting par8nts and carers Gov@mrn8nl grants Oth8r 9ranls 65,0 90,1fA 155,1&1 168.552 70.420 256.972 Engaging with n8onatal hBallh prolgssionals Gov@mtrh8nl grants oth8rgranl8 44,238 44,238 SuppDrtirrfJ r8s8arch oth8r granls 5Y.6SY 5Y.6SY 59,440 Unr8strictsd Engaging with n8Dnatal hBalth prulgssionals Acu8ditation F88s and r8imburs8m8nts 23,770 23,770 10.040 10.040 SuppDrting r8s8arch R8s8arching InnovaliDn 16.810 16.810 Totsl 291,046 564.257 @sthct8d inBom8 from charitsbl8 aclriiti8s r8pr8S8lltS grants r8C8IV8d tromgOV8rnm@nt and t￿sIst0 futh8r Bliss, charitab18 obi8clri88. plus r8slrictsd grants or thnalionsfrDrn COtporat8 partn8rs Unr8Strict8d incorn@from chanta￿8 activiti@s r8p￿se￿￿ accr8ditalion f88sforparbcipaliDn in ourBliss Baby Chart8rsch8trh8. any 188s char98dforh8althprof8ssional trainin9 8V8nts, a8w811 asf88s charg8d In tradiry r81ationships forth8 provision of r888arChsu￿Ort. 30

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 Incarn&frarn athBrtr4ding aCti￿tio5 2023 2022 Unr8strictsd Mon8y raiséd s￿rtIng and communityaBtiviti88 I￿0￿8 Iromtrading acliviti8s- Room R@ntal 915,505 1.071. 825 189.732 1.262.$86 105,242 1,￿21,5T Net ￿CL¥nO} l•xp8nditurel lorth&y8ar 2023 2022 Net incorn81 l•xp8nditur81 lorlh8 y8ar is statgd aft8rcharging'. Owrating18as8- lar￿ buildirys A￿lt0[&. r8mun@ration- a￿lt D8pr8ciation ol fiK8d as88ts 14,7 1S.375 65.234 Costsof raising lunds 2023 2022 Unr8strictsd S88king donations, granls and18gac188 staging SPDrting and communityactivit188 871,795 573,096 34,SW2 34S.446 4BO.244 35.547 92.230 235.918 1.187.385 Supportcosls-Dlh@r (nots 8 1,282,1 charit4bl&actwit￿s Analysi8 of •xp8nditurean charitable4ctiwti8s byfund Unr8strictsd 2023 R8stric 2023 Total 2023 Supporting par8nls andcar@rs 383,$05 815,469 241,949 155,164 531669 360,707 241,￿9 Campaigning fDr chary8 Supporting ￿searCh TDtal 1,W1,8L 255,942 1,237,148 Analysis of 8￿8nd11ur8 ontharilab18 activit188 byfund priory8ar 2022 2022 2022 Supporting par8nls andcar@rs 38B.998 270.669 256.091 84.761 1.￿0.519 241.945 46.754 630.943 317.423 256.091 86.442 1.290.899 Campaigning for chan98 Supporting ￿searCh Total 1.681 290.380

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 Analysi8 of •xp8nditurean charitable4ctiwti8s Total 2023 2022 Su￿￿rtIng pargrrts and carers Slaff costs Dir8Ct costs guwrtcosts 839,102 69,997 294.88B 205.450 130.605 630.943 Engaging with neonatal hBalth pr0l8ssiD￿ls Slaff costs Dir8Ct costs Su￿rt£0stS 258,or2 17,874 209.482 14.441 9S.500 317.423 Cawigning forchang Slaff costs 175,379 5,907 166.782 sUp￿rt(os*s 78.89B 256.092 241,949 Suw>llrting ￿searCh giaff costs Dir8Ct costs R8S8arth Grant sup￿rtc0s￿ 18.649 SO.￿0 6.378 86.441 25,0 Totsl 1,257,148 1.290.899 award8d for a Ih188-y8ai p8riad. with a slall dat8 of 1 Octob@r2019. and a 9ranl valu8 of £I46k{￿rth& lull t8rm ofth8 grant. Aft8r an initial paym8lltof £25k I 19120. du8 toth8 to r8balanc8 Bliss, finarrial position Ih@t8rmsw818 am8nd8d to awaid £25k only In 2W21 Folli)win9 SUCC8ssful grant r8porfs. afurth8r £50kwasth8n award8d In 21122 and afurth8r £25k In th8 22123 linancial ￿ar In ￿sp￿ct0f Ihis Inilial 9iantaward. No comrnitm8nl was confiirnéd lorfutur@y@ars. so noaddilional liability has b88n r8CO9ni88d atth8 balan￿ sh881 dat8. Follo￿￿9 r8c81Ptof award of £5ak trom M￿c to Bliss durin9 th8 21i22 financial y8ar. Bliss has also a9r88d thal follo￿rn9 ass8SSm8lltof ￿rfo￿anCe atth8 8nd ol th@ Inilial 9rantP8riod in F8b￿ary 2023. a 9rant award will b8 mad@for a futh@r £50k In th8 23i24 fina￿la1 y8ar. If It Is satisf18d th@ n8c8ssary oulcotrh8s hav8 b88n achi￿￿d. Thisfinal £50k Iifawardédl will ulilis8 th@ r8Strict8d r8S8tV8S accumulaléd In21f22. SwrtCD5ts Costsof raisiry funds Charitabl Activit￿5 2023 2022 Stattcosls D8pr8ciation T818phDn8 IT costs A￿lt and oth8rprof8sslDn￿ t888 Trust88 Expen ON￿9 renl. latesar￿ 88MC8 chaTg 102,531 22,880 $0,663 20S,L￿2 53,209 128,869 19,687 1,525 156,634 44,373 30,$29 78,2L 11,222 65.234 118.845 656 67,353 19,043 31,142 764 89,281 25,390 53,918 26.4BO 15S.794 01h8rsu￿rtcOsts 391,686 694,419 730.371 Supportcosls ar8 allocalédto th8 pallicularactivity wh8r8 lh8 cosl r81atss dir8cllytD that aclivily. How8V8r. Ih@costof ov@rall dir8Ction and administration of 8ach aclriity. CDmprisiry lh8 S￿ary and 0￿￿￿ad cD8t8of Ih@c@ntral function, Is appolliDn8dDn Ih@ basis of 88timal8d 8tatttim8 athbulab18to @aBhaBtivity- Trust885 Notrust88sor any p8tSDnSCOnn8Ct8d wilh th8m r8C8r18d any r8mUn8ration during th8y8ar12022.- Enill 4trusl88s r8c81V8d r8irnburs8m8nls DI trav8111ry 8￿8￿&￿&t01alliry £1,52512022 5trust888 re￿1v8d£764l

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 10 and 8Woyrn8nt costs NurnbBruf 8rnploy885 Th8 a￿ra98 nurnb8rof8mploy88s durin9 th8 y8ar was 4212022." 39 Th8 8￿ra98 numb8roffull-tim8 8quival@nt 8rnpIoy888during th8 y8arwds' 2023 2022 Supporbng par8nls and car@rs En9aging with n8onatal h￿￿1h prof85s￿￿￿8 Campaigning forchan98 Supportrn9 ￿s8arch Fundraisi Adrninistration and CEO Scotland 10.9 34.9 EWuyrn8nt custs 2023 2022 Wa98s and salari8S 8dU￿da￿Y and t8rminaho Social 58curity Costs P8nsioncontr1b￿ion8 1,242,097 1.061.666 125,444 98.57B 58.823 .219.￿7 1,428,212 On8 &￿￿0y￿8 8arn8d b8tW88n E80,OOO3r￿ £89.99912022". on88mploy88 b81w88n t70.0￿ and £79.9991. No Dlh8r@mplDy88 @arn8d in 8￿￿S Of£60.￿0. Th8 Charity's Irust888 ar8 not p￿d nor r8c81V8d aThy oth8r b@n8fitsfrom 8mpIoym8nl with th8 Charity Dr Itssubsidiari@s during th8 y8arl2022.- £nill Th8 tDlal 8mploy88 b8ll@fits of th@ k8y manag8trh8nt P8rsonn81 a[￿￿nt8d lo E263.073 in pay and P8llSIDn COntri￿tIOns{2022 E248.6571 and £SO.B90was paid in @mploy8rfs national Insuranc8 COlltributions12022-. £27.6991 dUr￿a￿Y and t8rminalion paym8llts ar8 r8cognis8d In full th@ t8rmination of 8mpIDym8llt 0 8mpIoy888 r8c8iv8d paym8￿8 Dt this ki￿ dunry th8 y8ar A 8tsftuntak@n l@av8 acctual has not b88n I￿1￿8d as b81n9 imma18nal. Tangibl8 lix8dass8ts roup and Charitv L8as8hold prop8rty Olfic8 Equipm8nt Coryutgr EquipmBnt Totsl Cost At l Apnl 2022 160,195 10,008 141819 8,817 89,565 67,571 338￿8 18025 263,307 89,086 18 At 31 March 2QZJ iO,W8 1)ep￿cIatiOn 140,5 19,642 24,018 276,407 53W9 Charg8 lorth8 Y8aT 32,531 18 At 31 March 20ZJ 51802 66,309 Net va￿￿¥t 31 March 20f6 10,W8 12,769 22,777 N@t Bookv￿u8 at Sl March2022 19.641 1.036 36.4B4

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 12 Fix8d Inv8slrn8nts Inv8strn8ntin su1ssKI￿ry Charity Costat l April 2022 and $1 March 2023 Asat Sl March2023 Holdings of mor8 than 20Y. Th8 chantabl@company CDnlrDl8 mor8 than 2￿ts0f th@fDIIowl￿ 8nli1188-. C0rnpanysubs￿￿ryUndortak1nY5 County of ￿gIstrat￿ ar incorporation Class Shargs h8ld eontr Bli88 s￿8S ￿mil8d Engla￿ and Wal8S ordinary £1 WA lo￿. lo￿. NIA Th8 W￿lp￿1 aclriity DI Bliss sal@s Limit8d is tradiry op8rations that 8￿har￿ th8 obi8CtIV8S Dt Bliss. All activiti@s hav8 b88n consolidat8d on a Iin@ by Bliss Scotland Ichantyl Limi18d Is acompany Iimitsd by guarant88 In Scotland a r89lSt8r8d charity In Scotla￿. Its w￿1paI activity Is to catry out Bliss. ￿rns obi8cliv8s In Scotland. Control Is @X8rcis8d Ihrou9h th8 Chair and Tr@asur8rof Bliss Scolland Icharityl ￿MilEd ￿￿0 b@Ing Trusts8sof Bliss ￿1 activi1188 hav8 b88n CDnsolidat8don alin8 by lin8 basis In th8 8ta18m8nl Offina￿la1 activit18S. ThB r8sutts of Bliss Sa￿￿ Lirnitgd la CLYnpany ￿9151￿r0d in Engla￿ an￿wa￿S, CLYnpsnynUrnb8r03602721lforthe￿￿rOnthd 31 March 2022 w8r8 as 2023 2022 Tumovgr Costof sal@s ross profit Adrninistratlon 8￿￿￿588 OpBrating profit 105,242 1B9.732 105,242 189.732 S6 365 64,442 164,4421 15S.$67 Co￿ratIOn l& Profitl 1105slforthB year ThB aggr8gats of th84ss8ts, 1ithlit￿s and lunds was.. Ass8ts 72,127 (72,1261 Funds At lh8 balanc8 8h881 da18 £53.274 was ow8d by Bliss s￿8S LtdtD Bli8812022 E44.302 wa8ow8d by Blis8tD Bli88 Ltd)

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts Icontinugdl As at 31 March 2023 13 Fix8d Jss8t Inv8slrn8nts IcontinuBdl ThB r8suIts of Bliss SCO￿and Icharityl Limthd la Eowny limit•d by guarants8y r89i8tsr8d in Scotland, carnpanynurnbBrSC8655574nd a r•g1St8r8d charity in ScotlandTr registration number SC0408781 lorth8 y8ar8nd8d 31 March 2023w8r8 as lollows.. Unr8strictsd funds R8stric Funds Total 2023 Totsl 3022 Natos Incorn& Donations 21.242 SuppDrting pa18nts a￿carerS Engagl￿WIth rn80Trat￿ h8alth prof8s8ionals Campaigningforchan98 SuppDrting r8s@arch 21,WD 21,ODQ 41238 21.OYB 46.754 13,795 13,795 Total incom Y02.Y45 ExpBnditur Costs of raisi￿ lunds 14,420 11420 11.460 SuppDrting pa18nts a￿carerS Enga9lngWlth n80natal h8alth prof8s8ionals Campaigningforchang8 guwrting r8S@arch 3,￿7 701 2,092 503 21,WD 21947 41939 2,092 503 21.730 46.796 6.049 419 Total 8xp8nditur8 86.444 Net incorn81 l•xp8nditur81 b8for8trans18rs 15,3841 143841 Transf8rsb8lw88n lunds N8trnov8rn8nt in lunds Fund balanc8sbr0u9htfo￿ard Fund balanc85 carri8dforYrdrd 16,096 16,096 14 A n81 manag8m@nttharg8 of£30.47012022 £17.4641 was mad8 by Bliss to Bliss Scotland Ichantyl Ltd Nodonation12022.- EOI was trhad8 by Blissto Bliss ScDlland Icharityi Ltd At lh8 balanc8 8h881 da18. E10.62212022 £15.163lwas owéd by Bliss to Bliss Scotland (Charity) Ltd. Dunry the￿￿r, lh8 par8nl charity r8c81V8d gross I￿0￿8 of E2.165k12022.- £2,31Skl. and mad8 a loss ofE2S8kl2022 lossof £79kl. 14 1)8btors Qraup 2023 Charity 2023 2022 2022 Trad@d8btors Olh81 deblots Amounts ow8d by grow underta￿￿9S Pr8paym@nts and aCC￿Ed Incom8 77,019 65,025 5B.783 74.297 847 65,023 53,274 8,856 74,297 44,302 148.592 281.672 217,8 200,403 270,047 15 Currgrrt 11858tlnvestrn8nts Cutr8nl ass@t In￿tr￿8￿lS r81atsd to Inv8St8d by th@ tha￿Y in a common Inv8Stm@nt which was I￿￿pend8￿UY manag8d by CCLA lThv@sltrh8 2023 2022 Fair valu8as at I Wil 22 Additions Disposals N@t Unr8alis8dg￿n8 Ilos8881 to Sl March Fair valu8as at31 March Z6 818,275 2.885 25.390 318.275 906,345 HIStar￿ costas at 81 March

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 16 Cr•ditLYS Qraup 2023 Charity 2023 2022 2022 Trad@cr8ditors Tam and Social Sécurity eosts VAT Olh8rcr8ditot8 48,821 69.882 2B.766 16.086 6.749 41822 69,8B2 28,766 6,315 6,749 14,769 44,415 125300 21,649 14,295 10,M1 11295 10,622 31103 Amounts ow8d tOgfDUP ￿￿￿rtakI￿8 Accruals D@f8rr8d Incom8 36,803 45.615 12B.425 295.523 271,354 296,196 D8f8rr8d Inco D@f8rr8d InBom8 r@lat88tD r8C8IV8d dunw the￿￿r, r81at8dtD P8riods Qraup 2023 Charity 2023 2022 2022 Balance atth8 Winning of 128,425 125,2751 24,9 12B.425 125,8 125,300 112s.s￿l 128.425 18,650 Balanc8 atth8 8ndotth8￿3r 125300 17 Cornmitrn8nts under opBrating Asat Sl March2023. lh8 Charity had commitrTh8nls und@rnon.canc811abl8 QP8raling 18as8s. Th@tDlal ￿t￿re minimum 18as8 paym8nts ￿reaS fDIII)ws-. Land and Buildings P￿nt & PjachinBrya￿ tt 2023 2023 2022 2022 Owrating l@as88payatA8 L8ss Ihan Dn8 y8ar B8M88n Dn8 fiv8 y8at8 9,558 102.832 4,682 lo￿34 15116 29,189 52,422 9,558 102.832 18 Analysi8 of Charttab￿fL￿dS Currgrrt ygar Balanc& 1 April 2022 Funds Tr4ns18rs 31 March 2￿23 1￿c￿rne Expenditur Analysi8 of ￿￿>V￿rn￿nts in U￿Ostr￿t0dfU￿dS G8ll@ral fu 1,097,569 2,029,108 ,295￿9 830,785 TDtal Group4nd Charity 1,097,569 2,￿￿,108 ,295,892] 830,785 Analysi8 of ￿￿>V￿rn￿nts in restrictgd lunds Balanc& 1 April 2022 Funds Tr4ns18rs 31 March 2￿23 1￿c￿rne Expenditur SuppDrbrJgparDntsandrarérs NHS En9land Olh@rGrants 84,164 184,1641 En98gin9 withnéDnataAboaithwof&ssioyJals SuppDrbngrwJoarclJ MRC Olh@rGrants 50,0 50,000 23,500 73,500 35,940 1170,1041 Total Charty 50,0 193,604 SuppDrbrJg famili￿arJIA1￿jsjrb?bi￿ ScotNarJ Supporting par8nls and car@rs 21,L Total Bliss SCO￿and Icharityl Limit8d TDtal Group4nd Charity 50,0 258,842 1235,3 73,500

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 18 Analysi8 of Charttab￿fL￿dS IcDntinu8dl SuppDrbrJgparDntsayJd carérs NHS En9land this 9rantwas award8d lo prowd@ Information and 8upportfDr par8nts of bab18s In n80Trat￿ car8 aroundWi￿￿r Illn8SS8s In22 23 MRC this 9rantwasaward8dto suwrttharili8s lo continu@ Dr ￿￿er￿ th81rr8S8arch activity. w@will u88 Ihis Incotrh8 locontinu@ Dur Oxtord ￿@S￿arCh grant. Sthuld r88uIts b8favourab18. or alt8rnaliv8ly fu￿ anoth8r appropriat8 r8s8arth activity Itnot. SuppDrbrJg famili￿arJIA1￿jsjrb¥￿￿￿ ScotNarJ Th@S8 f￿r￿S￿￿r8 r8C8iv8d rnainlyfrorn th8 Scottish GDV8rnm8nt, to supwrt Inth8 d81iv8ryof oUrwO￿ across Scotland. Analysis ofcharitsb18 ￿ndS {wor￿ar) Bala￿8 Funds Transt@rs 31 March 2022 Incom@ Analysis of mov8m8nls In unr88trict8d fu￿8 D8si9nat8d fiK8d ass81 fund G8ll@ral fu 1.20B.021 2.077.452 1.097,569 Total Group and Charity 1.208.021 2.077.452 2.187 904 1.097 569 Th8 d88ignat8dfix8d ass8tfund was us8d forfix8dass8tpurchas8s. Durin9 th8 y8ar Trusts8sd8cid8d notto d881gnat8 funds In this way. Bala￿8 Funds Transt@rs 31 March 2022 Analysis of mov8m8nls In r88trict8d fu￿8 Ipriory8aty Incom@ Supporbn9 par8nl8 andcar@rs NHS England Olh@rGrants En9aging with n8onatal h￿￿1h prof85s￿￿￿8 Supportrn9 ￿s8arch MRC 149.534 70.420 2.973 173,3931 50.aOO 1.681 271.635 50,000 Total Charity 2.973 50,000 Supporbng famili@s Ih@Ir bab18s In Scotland Supporting par8nls and car@rs 46.754 65.TT2 Total Bliss Scooand Icharityl ￿mil8d Total Group and Charity 2.973 337.407 290 380 50 000 37

Bliss- The National Charity for the Newborn IA Company Limited by Guaranteel Notes to the Accounts (Continued) For the year ended 31 March 2023 Analysis of n8tass8ts bbt4v8Bnfu￿s Currant y8ar Unr8strictsd funds R8stric Funds Total 2025 Tangibl8fix•d as8•ts rrent ass8ts ditors,4mwnts falling th8within 22,777 1,LW,797 22,777 1,162,297 73,SOD 73,SOD 904,285 2022 Taryib18fix8d ass@ts c￿￿￿ta￿Se￿ Créditors. amounts falliw du8 4MthinDn8 y8ar 1.335.931 295.52S 1 097 569 So.￿0 1.3B5.931 295.523 1 147 569 H8lat•d parb8s Th8 a9918gat8 donaliDnsfrDrn r@lat8d parti@s. which InBlud88amounts thnaléd bytrust888, and amounts thnaléd lo t￿s18&fundraiSi￿9 8v8￿83￿d thbul@funds. amounléd lo £581 12022 £2S.4401. H8conBiliation of th8 nBt rn0￿￿￿nt infundsto th&n8t cash flowfrom op8rating activiti85 2023 2022 N8trnov8rn8nt in lunds 43,2841 53,209 65.234 Divid8nd and Int8r8St Ir￿rn8 shown In Inv88tiry a￿1￿11￿5 11,990 63,8r2 14,734 1141,2521 D8cr8as@I Iincr8as81 Ind8btor8 I￿r￿as8 1 Id8cr@as@I In cr8dilot8 N8tcash g8n8r4t•dfromllus8d inl op8ratirrfJ activitigs 52.952 38