WORLD OBES￿ FEDERATION IA Company limited by gu4r&nteel REPORT AND FINAP4CtALSTATEMBNTS FOR THE YEAR ENDED JI DECEMBER 2023 Company No: 03802726 Ch4rity Iyo: 11176981 COIYTENTS Pag Legal and adminisirative iDfornialion Tn]siees' report 2-14 I￿pendent auditors. report 15-17 S&tement of Fillancial Activities 18 Balaoce sheet 19 Clsh Flow StatcmeTht 20 Notes fomiing part of th¢ financial stalements 21-28 WORLD OBESITY FEDF.RATION LEGAL AND ADMINISTRATIVE INFORLNIATION FOR THE YEAR ENDED 31 DECEMBER 2023 Trkn5tee$ Dr Sinwn Barqutra (President Elect}- appojnted 13 July 2022 Professor John Wilding (Past PresidEnt)- appointed 23 May 2018 P￿fessOr Caroline Apovian- (Tceasurer) appointed 7 July 2020 Prof¢ssor DoE)na Ryan- appointed 3 May 2016 ProfcssoT Karine Clement- appjinted 3 May 2016 Professor Alafia Samutls- resignEd 15 February 2024 Dr Kyoung-Kon Ksm- appointed 30 November 2022 Dr Ada Cuevas- appointed 30 Novernber 2022 Mt Mccormack- appoEnt¢d 16 September 2020 Proft5sorBruno Halpern- appoInted l January 2021 Professor ja%0￿ Halford- appoi])ted l July 2021 Ms Atnber Huett Garcia-appointed 12 July 2023 Mr Stephell Odbiatnbo Ogweno- appointed 12 July 2023 Professor Dieter Kent Bu5c- appointed IS February 2024 Dr Elizabeth Park5- appoEnied 01 January 2024 Chair Professor Louise BauT (Presid¢nt)- appointed 7 July 2020 Seer¢t4ry Mrs Johanna Ralston- appointed 14 August 2017 CEO Johanna Ra15ton Company Reglstered Number 03802726 Charity Registered Number 1076981 Auditors XeiDadiD Auditing Chartered Accountants and Sta￿tOry Auditors Be¢kett House 36 Old J¢wry London EC2R 8DD Principal Office Address 3 Watethousc Square 138- 142 Holborn London ECIN 2SW Princip81 B4nker HSBC Bank 15@157 Tottenham Court Road London WIP 9LJ Solirltor5 Penningtons Solicitors LLP da ViD¢i Howe BBsJng View Basingstoke Hampshire RG214BQ The In]stees have prepared thi% report and finallcial statements in accordance with the UK Companies Aet 2006, Ihe UK Charitie5 Act 201 l and the Statemcnt of Recommended Pl￿tIce.. Accounting and Reporting by Charities (FRS102) WORLD ORF.si"rY FEDERATIOIY TRUSTEES REPORT FOR THE YEAR EINDED 31 DEcEr￿ER 2023 De81 colleagues, On brbalf of the World Obesity Federation, I am pleased to presentour annual report for 2023. D¢5Pite countriES' commitmenis to the WHO target to halt the rise in obessty by 2025. efforts to addte85 obesity ¢Onlinue to fail, and countries are tnarkedly off-trnck to meet the targets. NCD dedhs at(ributable to obesity bave tisen to 5 million per year and the number of people with obesity - and without thquate carc- continue5 to rt5e, while to date, effective actions to both prevent and tr¢at obesity have largely remained stagnant. Yet 2023 was a yrar in which Y￿rS of shared ¢ffort by our members and t0￿munitY st8rted to show me&su¥able t¢5uIts. OV￿. the last decade ourcollective understanding of the 5cÉence of obesity, as well as of successfvl impleJneDtalivn of poli¢i¢s and services. bas increased substalltially. Succcss on ()bcsity reqiiire5 coordinated action and a compr¢hensivB policy p8¢kag¢ *cross ptevention aLd treatment, relevant to all eountsic& with people 8t the centre. Throughout 2023. the World Obesity Federaiioll continued to shap¢ the obesity na￿tIVe. advance a¢tioD on WHO recommendations. and fom meankngful collaboration5 10 advance the gl(thal obesity agenda. Ai the same time, prornisillg developments in the external environment have contributed ID Dew opportyJniti¢s to address obesity across sectors. making 2023 8 PiVDt&l year. The activities described this report highlight ￿be￿Ity'S ETowing rol¢ on the global htaltb political Sta￿ aml th¢ foundation that has been set for expanded impact in the coming yeaTS in how obasity is understood, prevented, Inana¥ed, and treated. We saw the great¢st and most well-reteived World Obesity Day to date. with 2 campaigrt focused on convttsation and stories to help people Correct misconceptions sum)unding ob¢sity, a¢knowledge its complexities, and take effcctsve, collective action. ID Mgy the WHO Executive Board and Member States renewed OUT official relation statss and threc-yearjoint p12D, focusing on thc WHO Arcelerafiall plan. in September we bosted Éhe Globat Obeb'ity ForuEll along8id¢ th¢ UN General Assembly In New York., and O¢tober saw tbe release of a position $￿t¢￿ellt by members of the glubal obesity community addressing weig]it stigma thd changing obesity natratives published itt our journal Obesity Reviews). Our education and data work grew more than evcr. wjth oew modules alld a n¢w record foi SCOPE certifications. Visits to our Global Ob&sity Observalory reached over 1.3 million and stw a sf&ggering 228 /0 increase in w¢bsite useTS fro￿ 2020 - 2023. with visitors from 230 countrie5, isl8nds and territories. We also launchcd our book nbe5ity.' l-heOth¢r Pande￿iCOf the 21sl Century. rea￿tIllg contribiilions from leaditlg academics and practiti¢)ners iti the fseldof obesity tnanagernellt andprevelltion. available in both SpaDish EDglish. The continued ittfiu¢llc¢ of ollr economic impact work was serD in policies alld a new paper on obesity fInanting. Our journals thriv¢ under new editors, with Oi*sity Reviews continuing as the obesity journal with the higbest impact factor and an ¢ditOFial board with 18 new members. Out membership ¢ontillU6S to grow, alld we end2023 with 99 memb¢r organisatiDn5 in 120 countries and ierriÉori¢k As we look to the next thrtt yeaTs the highest priority serving as the global civil society leader ID national action on obesity action thFougb trait)ing. convening. buildin8 thc tvidencB and atnplifyin8 the lived expeiience voice acro&s all collntries. As Ilw8y5, 1 thank my fellow Both mcmbers, WOF voluDte¢rs alld membcts. the st8ff of World Obesity. Sincerely, Louise BAur PrestderÉt WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Legal Status of the World Obesity Federation The World Obesity Fcdcration {hcrcinafteiWorld Obesity) was incorporated in the United Kingdom on 8 July 1999 and is & piivate company limited by guarantcc (company Itgistration lluEnber 03802726). Woild Obesity is govemed by its Memorandum alld Articles of Associ&tiot), as updated most recently on 12 July 2023.IVorld Obesiiy És a registered charity (charjty number 1076981) and is not eTnpowered to tnake finattcial distributioos to its tne¥nber& Strategic goals In line with ils profe5sioNal membership and its Chatitable status, World Obesity aims to lead and drive global efforts 10 reduce, prevent and treat obesity. World ObL%sty's vision is to create and lead a global community of organi5ations dedRcated to solving the problems of obesity_ The strategic goals of World Obesity ale.. Lead global advocary for ob¢sity. Coiivene stakcholdcrs glohally. Train and build capacity in obesity. Collect and diSsen)i￿ale knowledge on obesity. Activities and A¢bievements A wide range of attivities 2reYndertak¢n to supptsrt the strategKc g021s. 1￿ClUdi￿g. Membetsbip GIDbal policy development and &dvocacy Couvetiing leadeTS and eX￿ts W()rld Obesity Day Clitiical Educatioll {SCOPE) Gulf and Leballon Recommenda110115 MENA IVoTking Group Collecting and di58eminalitig knowledgc on obestty JourDals Global Obesity Observatory Economic Impa¢t of Obesity Further details on each of th¢s¢ activity ￿eaS are provided bdow: WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 20Z3 Membership World Obesity Federation has a remit of represenlÈng its members througbout the Worl￿ advocating for scientific and glob21 approaches to obesity management. tyeaitnent. patient carc) prevention and awaren￿S. A total of I I ncw orgarJisatioDs joined World Obcsiry in 2023, following a su¢¢essful application proc￿$ 8nd approval by the Execulive. Four of these applications were accepted at the Full Member grade, with the remaining applLcations being approved &8 Associate McTnber& A furtiw4 applic&tLons wert iejrcted by the ieviewins bodie5. World Obesity's new mernbers in 2023 werE'. Cameroon Baptist Convcntion Health SeTvi¢es (CBCHS)-Associat¢ Metnber. Korean Health ProFnotion Instiiut¢ IKHF.YI)-Asso¢ia* m¢￿be[. Chilean Associationof Clini¢al NutsitLOTi, Obesity Metgbolism (ACHINUMF.T) - Full Member; Chilean wO￿l￿g Group cO￿ratiO￿ oo Artbr05clero$is (ATEROS CbK'le) - Associate Member. Coalition for Americas, Health (CLAS)- Asso¢iare Member.. C(>sta Rica A5socialEon forthe Fight Ag&ittst Obesity IAso¢ia¢iOn Lucha Contra la Obesidad} - Asso¢iat¢ Member; NCDA Urnguay (Alianza ENT Uruguay) - Full Mcmber,. Ttslian Diabeiology Society (SID}- A550Giate Member- Obesity Action Seoilatjd (OASI- Full Mcmber, Spanish Socicty frtrr the Study of Obesity (SEEDO) - Full m<￿ber- and Obesity Matter5. Canada Associ￿¢ nber. There are three regional organisaiions- the A$ia Oceallia Association for the Skndy of Obesity (AOASO), the European Association for the Study of Obesity, and the Latin Amerscall Federation of Obesity Societies (FLASO) with affjliation to World Obesity. Work is underway tv rstablish a Middle East regional associalion. which will also be affiliated to World Obc5ity. Al the end of 2023. WOF could count OH 99 member organisations over thrce gtades (74 Full Members, 22 Associate Members. 3 Regi0J￿1j. These orgaiii5ationswer¢ a¢tiv6 in rnany of the areas promoted by World ObEsity Fed￿atiOll for ￿eMbe[s, including SCOPE trainitig, convening (via online and some physical meeting5). participation in WHO P￿￿eSSes. and tsbesity data. The benefits of b¢ing part of WOF include opportunities to tLetwork and sILare resour¢es and experiences with fellow prof¢ssionalsJ patients, advocates aud allies from all ov¢r Ihe WOTld ay well as Information sharing, participating in cyents and roundtables. 8Dd ad ho¢support. Other specific bellefjts in¢lude= Dis¢ounted registration fee5 to World Obesity events and the Intemational Congr¢ss on Ob¢sity (ICO) Dis¢ounted 5ub5CriPtion raies on the World Obr5ity journals World ObesiW5 International Awards for Scientifjc Excellence Invitztion to attend our Atloual General Mceting (Associate members in a non-voting capaciry) Access to internatlODal poli¢ie5. project UPNdates and statistics on ohe%ity via the w￿ld Obesity Data Portal 500/D discount on paywalled SCOPE E-Leatning courses and 250/0 di5COUllt on th¢ SCOPE AccTeditation lee for rneiKbers as well &s ac¢e55 to SCOPE Schools Members e-newsletters and webitLars 2￿/Tr Di5CQUlIt on Wiley publications and ISYO discount on medical books from wisepress.com tuvilatloll lo bid for holding regional and international World Obesity Conferences WORLD OBESITY FEDEK4TION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Leading global advoeaty for obesity 2023 has been a piyotat year, brillging obesity to the forefront of the global healtb Attd w)litic&l stage. The Road to the 2025 UN High-LevBI Meeting on Noncorntnunicable Diseases is fully underway and World Obcsity have l¢veTrged this yeafs high-lcvcl advo¢aGy opportunities at the WHO Executive Board, World Health Assembly and the Global Obesity Fon]m during UNGA to ensure ob¢sity is a priorily in thc global health agenda. From highlighting the need to addies5 Stigma as a social determinant of health and reinforcing the ne￿ for inv¢51tneiit in obesity. to haTnes5iTLg the poiver of youth in obesity policy and r¢seaich through CO-CREATE and reframing ob¢sity as both disease and driver of other diseases, oui scope of advocacy in 2023 has reached far and widt. Global policy deyelopment and advocacy Ivorld Obesity's advocacy priorities continue to be focused on the re¢ognition of obesity as both risk factor and dis￿5¢. and the need to prioritise obesity within h¢￿th systems and food systen)s. In ollr capacity as a non-stale actor in oifjcial relations with WHO, World Obesity stsfyand members participated in a nurnber of high-level meetillgs throughi)ut 2023. This illcluded the 152nd Mtrtmg of tbe WHO Ex¢cutive BoaTd {February), 76th World Healtlj Assembly (May} and UN General Assembly (Scptember). During these meetings World Obesity was able to n￿k£ a number of State￿en15 and interventions related to NCDS, llutritio Universal Health G)Yer8g¢. the Polittcal IkclaratioD of the third high-level Tneeting of the Getterdl Assembly o the prevention and control of non-collununicable disease& and social detetmSDanls of health. In Febn￿ry 2023, during the 152ttd meeting of the WHO Exe¢utive Board, mern￿r State5 renewed our oifjcial relation slatss attd appioved a new three-ye2r work pl4D for collaboration. One of the most notable proje¢ts that will be worknn8 closrly wih WHO on during this penod is the implementation of the WHO recomm¢ndations on the pTrvention and maD3geinerit of obesity and the Acceleration Plan. Our tnembers also reinforced 0￿[ sbared effotts throuxh partlcipaiio￿ in and delivery of sraiemellts 8t the WHO Regional Com￿]tte¢ meetings throughout th¢ year. Convening leaders and experts Several advocacy events tth)k pl&ce during 2023. In F¢bruary 2023, during the 152nd meeÉing of the WHO Executive Board. Member State5 renewed our official rdatioD Status and appToved a new Ihree-year work plan forcoliaboration. One of the nw5t notable proj¢¢ts that we will be working closely with WHO oll during tbJ5 period is th¢ impl¢tnentation of the WHO re¢omm¢¥LdatiOll5 0 the prevention and management of obesity and the A¢celer&tion Plan. World Obesity Federation members and allies convened at the World Health Assernbly in May to spotliEht obesiry in the international health a(peThda. Activities kicked off with the annual 'Walk the Talk. event, WSth Member States, civil $o¢iety. and or8ani$ations. During theweek. our Ptesident, Louis¢ Baui, and CEO, Johatma R￿slOn, 8long ivith EASO'S Jacqueline BOWn￿￿, parti¢ipat¢d in a panel hosted by the governTnent of Bahrain on the ntw WHO STOP Obesity plan, and our Head of Policy, Maggie Werzel. delivered statements to the General Assembly. On 23 May, World Ob¢sity joined forces with its partnets in the Glob21 Obesity Coalition, WHO and UNICEF, foi an inviiaiion.only breakfast event in Geneva conventng donors, m¢mbErs, aml key stakeholders to discus% inv¢slin¢nt in obesÈry. WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Youth Advocacy support: CO-CREATE The CO-CREATE e¢t- Confronting Ob¢sity.' Co-cteating poLicy with youth (2018-2023) - set out to tackit childhoodand adoles¢eni obesiryand its CO-MO￿lditleS by ivorkingwith youngpeopleto develop toolsandpractices to Strengthen th¢ir role ill policy devclopmcnt. The proj¢¢t Cultniuatcd in 2023 and celebrates JDany achievements. It has shou￿ that a tea]n of re5earch¢rs. lloll- governmental advocacy groups, 8overnmeni agencies and youth organisations Can provide a Synergy that lately exists in social researc& that young p¢ople oan provide new insighis iNto obesity wevention, and that thcir voices should be heard. We led a two part webinar serie5 and organiscd a webitw to launch the Youth Advoc&c Toolktl. The Co-thate Final Confer¢Lce took place 12-13 Ottuber Brussels, co-host¢d with WHO Europe and brought together parthers and stakeholders to celebrate the achievements and impacts of thi5 jolnt PToject. There were 180 attendees fro￿ 49 countries. hfjatty resources hav¢ been ptoduced by the CO-CREATE tean] through the project aad tbese &ie all available to read onlin¢ on our H Ih Voice5 website. OBCT In 2023 we were ￿volV¢4 in a successful bid for the involvement in 8 new EU Horizon-funded PToject Obesity.. Biological, s￿1￿cultuTa], and Environmental Risk Trnjectocies (OBCT). The project will advance the Cutrellt understanding of obesity risks 2nd predictQL8 and The role of socio-economic Staths across th¢ lif¢ coutse. It wiu also detertnine the importance of sp¢¢ifi¢ obe5ity-related beh8viours to prtvent obesity at key life stages, chara¢t¢rise obesity-re18ted cardio-metsbolic risk profil&% within iepr¢s¢ntative EU untrie8 and dctcrninc the potential impact of obesiry-related polics¢s on inequality. The goal is to provide healt piofcssiona15, policymakers and thc public with knowledge, maps and tools to Sl￿￿rt ¢ffective and sustainable prevention of ob¢sityJ particularly within people and ¢tsmmuniti¢s with 8 low socio-economic statU5. The project started in Noven]ber 2023 and is eKpe¢i>J to be completed in 2028. World Obesity Day Following our 2022 campaign where we encouraged Everybody to Act for Obesity= 'Everyb(￿Y Needs to Act.. we demonstrated these ￿tIOnS through our World Obesity Day 2023 theme.. Changing PcrspEctiVES. Let'5 talk aboul Obesity. We recognised the PDwer of conversatiott to ¢hang¢ perspectives around Obesity. We iherefore acted and created a multitude of collversaiion cards to generat¢ ¢onvmation atound Obesity, healt￿ stigma, policy and much nK)r¢. to ultimately change perspecEives and take action for obcsity. The campaign Wds a huge succ¢ss with a press reach of 54 billion and 180 countries Yisiting our Wotld Obttsity Day website. Convening obesity $takeholders globally The 78th UN General Assembly (UNGA) t(y)kpla¢e ill Scptcmber in New York. Our members. volunteers alld Staff were actively involved in events, forums attd meetings. to eDsure that obesity is h￿1 on the political agenda. At the st8rt of UVGA78. we hosted our highly aDticipatEd anllual Global Obesity Fon￿1 2023 which broughr together 60 obesity stak¢holde15 to discuss soluiions io ih¢ tsbesity epidemi¢ and en¢our&ge arlion ￿rosS sectors. Proecedings included rtnoivned keynote speake¥s, including author of Ultr& Processed People. Chris van Tulleken. champions from around the ivorld sharing livtd experi¢ncG aD engaging panel dis¢ussion and interactive breakaut WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 s¢ssions. The finance paper developed for thi8 Fowm has been u￿lated with inputs frofft the discussion and is the basis lor our work in elevating obesity finan¢tng in 2024. The imp8et Df weight bias globally Another si8nifL¢ant &chievement W&8 achieved in 2023 in collaboration with 8lobal partners. Throughout 2023. the World Obesity Federation lcd a crucial initiative to address weight stigini recognising its profound irnpact as both social detetminant of health and a n)atter of global equity. World Obtsity fonlled a gl(Trb&l working gtoup. brillgtDg together41 representstives from diverse regions aDd varied backgrounds {hc81thcatt practilioners. researchers. kM)ItGymak¢rs. youth advoLateb, ¥lld indiYidua15 with lived experience of obesiry). Comeritig a compreh¢nsive inclusive approach. The ccntral forus of the workllJg group was to examine how global obesity narratives contribute to weight stigma. This resulted in the publication of a CDTnprehetisiv¢ globAI position staietnent which underscores the irnportan¢¢ of tmder51anding and addressing weight Stigma on a glDbal scale. Cllnlcal Eduestion (SCOPE) 8,164 llew user accounts were created in 2023. of whirh &953 logged in at leasr on¢e. (Note.. accounts arc created for all attendees of SCOPE Accreditcd courses, of which a portion will not subsequently engage.) A total of 746 healib professionals b2cart]e SC.OPE Certified ID 2023, thc highest annual total lo ditte. 7C¥J • 6Q-, 600 500 400 200 loo +87 •38 •51 2010 -100 2012 2014 2016 2018 2020 2022 2024 -200 In addition lo those who were certified for tELe first time, 372 extslirtg SCOPE CErtified HCP5 renewed their certification in 2023_ WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE TrEAR ENDED 31 DECEMBER 2023 A module on obesity aTtd chronic kidney disease. authoredby Dr Matthew Weir (Australia), wa5 rcleascd 35 a free supplemetttary module in February 2023 The modLEie ba5 been professionally translated into Spanish. Frellcb and Portuguese. A Jnodule was als(Tr dcveloped oll obesity and genetic disease. authored by Prof Sadaf Farooqui {UK). Released in August 2023, tbe modulc outlinc8 how gcnetic changes rolltribute to obesity- The module has been profession811y tralls1at￿ into Spanish, Fffnch and Portuguese. The SCOPE Examination iyas finalised with collaboration from the Clinical Care con)mt￿e members and other ittlemaiional tsbesity experts and is now live the SCOPE platfornh. The SCOPB Examination has been divided into a) Core Exam and b) four sllpplementary exallLS. Th￿ allows le&rner& tn spccialise Jn a topic of theiT choice. Succcs5fi]I tompletioo of the Core Exarn and on¢ supplementary became a requirejnent of SCOPE Certification oll 1st Aptil 21Y23. The pèss Enark foT Exallk is 70/0. Candidates ar¢ giv¢n 2 hours to CO￿pIcte tbe Core ExanL atld 50 rninutes to Complets their chosen supplementary exam. OD I I September 2023. SCOPE impl¢m¢nted a new tiered pricing structure for its paywalled courses. as well as applications for SCOPE Fellowship, A¢creditatiOik. and recertification. This apprts￿h tailors piicing based OD both the country's income l¢v¢l, as defined by the World Bank, and World Obestty Federation Membership status. Oll 23 Febnwy 2023. SCOPE host¢d a webinar on child obesity for World Obesity Day themed "ChangiAg PerspECtives on child obesity through medical education" The w¢binar rea￿red & presentstion by Dr Marie-Laure Frelut, then D¢puty Chaii of Woild Obesity's Clinical Care Committee. Staff also pr¢sent¢d ¢h¢ import8n¢6 of medic81 cdue&tiOEL and the World Obesity Day campaign. Some planned activities were delayed and ultin)at¢ly suspended due to exÈernai factors affecting donor supporL This meallt that som¢ plAllS foi SCOPE were eaJLcelled or delayed in 2023 ineludiD8 the plann¢d ¢ontsnuation of the SCOPB Ltadetship Program]ne, and second series of the SCOPE podcast. Gulf and Lebanon Re¢ommeDdations 4nd MENA working group. World Obesity has been working with obesity expetts in the Middle East and NoTth Afiica (MENA) region foi sev¢ral y¢ars. A¢tivitiES have included work ¢m patient advoeacy {includin8 the development ofthe Patient Potlal). several SCOPE Schools. wgrkon tbe'Gulf & L90 counthe& and dats is availabl¢ I￿ over225 countrie5. territories orlslands. Ibe large cross-national COSI. GHSH. STEPS. DHS & EUROSTAT data were reviewed alld upload¢d into the appropri&te CMS. A5 part of an carlicr project funded by a Europeatj Union operating grallL World Obe5Lty wa5 committed to providing several graphics IA all official EU language5. To m&ximis¢ usability. most of th¢ Obscrvatory w¢bsit¢ continue5 to be available in these languages. Charitable objectives of World Obesity World Obesity is r¢gistered in the United Kingdom. WoTld Obesity's ch&ritable objectives are "io pYopno¢e fhe Pr￿ervatIOR Llndpruteclion oJhe<h ondrgli8fofsicknessfor thepublicbenefil in rhefzeldofobesityondils reloied disorders by (i) Fromoting research, Ihe dESSeminaÉion of Ehe rI￿￿lIS of Suck reseorch, and exchunge ofsczenlific uifonnalion thefield ofobesity internalionolly, (Ei) developing & deepgr tsAdeTStttAdiAg of hoiv to 12chÉevÉ RAIIEntain o héollhy bodyweighi. aKd managing attdpreveAltAg obuity ond its r¥lu¢ed rondilions by those engaggd UR the sthdp ofobagity, healihcorepr0fessio￿O[&. reloied (IrgL￿[s￿li0n$. goVerP￿t￿lS and the internailon¢TI Publlc benefit World Obesity's activities coThtinue to give identifiable benefiis io the public. The tmstees ¢onfimi Ihal they hav6 complied with duty under section 17 of (he Charities Act 2011 to have due regard io ihe Charity Commission's general guidance on public knefit and s¢¢k to meet World Obesity's Ch￿itable pu￿￿S￿S in following its objective5. Slructure} goverllance and management The Trustees (Board of Trustee5) The ditector8 of the CoMpa￿Y are also trust¢¢s of tb¢ clwity for the pU￿OSe of ch&isty law. and, under tbe Articles of Association, are also kllOWJJ as tDtmbcrs Df tbe Board ofTtU5t¢¢s. The President-Elect is elected by the General cOu￿ClI to 8erve a terni of six years in total. two years as Presidettt-Ele¢t. two yeaEs as President and two y¢ars as Past President. The Treawr¢r is ¢l¢¢ted by thr G¢n¢ral Council to hold office for two years which can be renewed for further temis of two years. The Vice-Presidents for each region are ele¢ted by their rtSPeCÉive regional bLxlies. When a new trustee is appointEd. the rharity will provide a copy of the Trustees Pack whtch includes inforniation on: iole and responsibilities of a ttustee. •mission and objectives of the orgADisation. legal status and governance. organisation21 sttucture staffing. financ¢ including cxpense claim rule& MemoraTtduTn and Articles of Association Thc Charity's currcnt Board ES Presently comprh5ed of 15 rnember5. Tbe Board is te5ponsible for the strategic d￿￿tIOn and policies of the cbarity #s delegated by the General Council. Thc Board of Trnstccs holds regular io WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 meetings and tclecortftrence calls to discuss rel¢vant issues and ￿ak$ final decisiovs to feed back to the sub- committees atsd task forces. Relevani senior staffmernbers are invited to attend certainrntttings inorderto facilitate op¢rationJl drtail5. The Board of Trustees, wÈth support fiom the relevant sub-cotntllittecs, considers or2anisationBI risk th&t World Obesity may fac4 the strategic position and any Ilifficulties the organisalion may haye in achieving its goals. Gener91 Coune51 The General Council is the governing body of World Obesity. Members of World Obesity are entitled to send ot)e r¢pTesentative per member organisation to attertd g¢Aeial meetings petsonally OT by proxy* aud to vote oll beha]f of their organis&tTon. NomlllitlOlL8 Comrnlttee The NomiDatioo$ Comrnittee ￿nSistS of th¢ President, th¢ PiesRd¢nt-ElecL the Past-Ptesid¢nt and three co-opted members. The Nojnitiations Corn￿1￿¢￿ Tnanages tkLe llOllLination process of tbe Piesidellt-Elect and the Treasurer. The Trlominaiions Committee reports th'rectly to the Board of Tru5tee5. Flnanee CotDtnittee The Finance Cvrnniillev culldles tbe yearly budgets for approval by the Board of Trustees a]Jd monitors the perfottnatkce against that budget durin2 reRular meelings thtuugh the year The Fill￿Ce Ci)rnmiltee also L￿[]&111e￿s the financial risk World Ubesity may encounter and recommends stra￿8]¢£ to mitigat¢ any identified risk. The Finattc¢ Committ¢e reports d1￿Cl1Y to the Board of l-rustees. Publlcations CO[N￿1ttee 'I'he Publications Conllnittee manages the journal FK¥rtfolio of World Obesity. The Publications Cotrtmittee meets at le&%t twiee a yeor and fowse5 QTL increasing the in¥act of World Obesity's journals. The Publications Conrnittee reports directly to the Board of Tntstees. Clinical Care CornEKittee The Clinical Care Committee focuse5 on management of the charity's educational programmes for healthcare professionals. The Clinical Care Committee reports dirtttly to the Board of Twstets. Poitcy and Preventlon Commlttee The Policy and Prevention Committee fo¢uses on public health policy and adYocaGy work. 11 15 5UPPOrted in an advisory capacity by & Seienlific athd Technical Advisory Network (STAN) of 54 expert TnembEr5. including 10 early-career professionals. Th¢ Policy and PrevEtLtIOD ComrtLitte¢ reports directly to the Board of TrustEe& The Sciendflc ProErnmTne #nd ICO Liaison Commffittee The Scieniific Progratnme and ICO Liaison Committee provides lead¢rship on ¢ot@erence progtammes, speakri invitation and otber event-relalrd strategy issues. ftrl8nagemellt Th¢ day-to-day rnanagement and decssion making of World Obesity is d¢legated by tbe tNstees to the CEO. Emplibye¢ parti¢lpatlon World Obesity is eomtnitted to employee engagernent. A rnotivated and committed teara ensures that all avenues io fijrther th¢ ivork of World Obesity ale explored. World Obesity works hard to promote interaction and trust bttweeTr Ihe leadetship and employees. and to promot¢ collaborative relationships ihrough team building, ¢ross- fvllctiottal projects and tfdinin8. World Obesity -%eek5 tD undeT%tand and appreciate different peispe¢tivÉ8 and to address employee concerns and issues. In addition. World Obe8ity encourages. celebrdte5 and recognises the excellence of th¢ team aTrd actively solicits eEnployee feedback and evaluates and recommends sIrate8￿¢S for itnproving employce engageTnent. RlslE management Using the risk register which is r¢view¢d by the Ttustees at ea¢h quarterly tneeting. managemeni has 355¢S5ed the IIiajoi risks to ivhich World Obesiry ig exposed has develope(I mitigating SlTa*gies to reduce their impwE to an acceptable level.. WORLD OBKSI'fY FEDERATION TRUSTEES REPORT FOR THE YEAR KNDED 31 DECEMBER 2023 Risk InsU￿￿elentIY diversifLed sources of in¢ome atld the impact of losing on¢ or more sourc¢s of incorne Loss of key employees from the (eam Miti lio Reserves ar¢ held to cover one year's operdting expcndituie of the charity- Fundin divcrsificati()n Tnme initiated in 2023 Key positions core fimded wilh greater use of trusted C4)nsuliancics for Yaiiabl¢ fiuM]Frig. Greater engagement of committee eKperts with staffing focused on coordination and mana eittent; Scope and level of activtties 8tnended to ensu￿ in lin with availabl¢ ￿llds. 'Stepped' approach ihat allows for scalt of activities to increas¢ if funding bECOrnCS available. Inadcquate te50urcing for tDajor cor¢ activities e.g. World Obcsity Day results in unsustainable demands on volunteer Dd staff time. Pote￿tial losses ¢ongrcsscs fiotn unsuccessful Australian ¢ongress generated rnode5t surplus and ICO 2024 is sharing risk with Brazilian member ABESO. 12 WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Going Concern The trustees bave con$ider¢d th¢ ¢harity'$ ability 10 COlltinu¢ as a 80ing con¢ern to assure th¢mselves of th¢ validity of this assumption when prep2ring tbe accoutsts. trt makiog this assessment, they have taken into accoullt all available infonll&tion about the future for at least twelve nionths from tbe date tbe accounts are approve In e4tly 2023 a key donoT, NovoNordisL COJDnJuni¢at¢d that tb¢y would be d¢lfyy¢d in honouring their fijllding comtnitments talling over GBP 900.000 due to a possible breach of ABPI sthndards. Imm¢di*e a¢iion was (2ken to reduce costs while diversifysng fvllding and changing operating models. In May 2023, the oompany ¢oTntnuDicat¢d that th? eApe£ted delay in funding was in fact a cancellation, llecessÈtatlll8 some fi￿her reduction5. Because the organisalioii h35 had healthy reserves IA place the focus has been OTh rebuildin8 SUPPOrt aThd ensuring the critical work contiaues for the future. Despite the Ios5 of fundillg tntstees cootillue to beii¢ve that the Going Con¢¢rn assumption is appropriat¢ for th¢ following reasons.. World Obesity i5 bighly re8atd¢d wathia the f￿[d of obesity and the ollly obesity organisation in offici21 rclations with WHO, with strong existing relationships with many key funders within the 5¢Ctor. Th¢Charity is eng￿1n8 wÈth these futtders to see if they can help provide It￿￿ediate fm8ncial support. World Ob¢sity embarkedduring 2022 on aprogrnmme of diversifying funding and th¢se efforts bayebeen iDtensified in 2023. Although tbis is likely to be & medium-tenn strategy, the I￿Stee8 believe that there are significant opportwisties to support the organ>sation 4Dd this appmach will also help to reduce fvNTe financial risk. An initsal progrdmrneofcostreductionwas uDdertaken whilemaintaTningdelivery capacity in Drdcito tak¢ advantage of Iny funding opportunities. Trustees will Continue to monitor fvnding proje¢iions and seek fi]rther reductions to colltaiu ally deficit wrytbiu su51ainable levels. Although some reduction ill activity is possible ]D the sbort tetrn. Trustees betsevc that a retutn to scale and Irpositioning of key work and operations are possibl¢ within the next two years. Reserves Policy The twstees revÉew theirTeserves polÈcyanE]ually to ensure that itreflects the changin -positiollof the Ch￿lty anditsoperating co￿teXt. T￿￿te¢S hav¢ ¢onsid¢red the following factors s¢ttill8 tILeir r¢serv¢s l¢vel: WoIld Obesity F¢deratiorL is highlyr¢gard¢d within obesity the only obeslty Organi￿tIOn ill official relations with WHO, with Strong txisting relationships with mally key filndets within the sector. The cbarity enEaged wkth these fulldet5 to see if th¢y ¢ould provid¢ 8UPPOrt. World Obesity had embarked iTr 2022 on a progrdrtune of div6r5ifying fundiEJg olld iucieasing overnII fman¢ing from govemmentalld philaDthropyforthe wider obesitycause. These efforts were intEnsified in 2023 alld although this Is a medium- tenn strategy, the trustc&8 believed th¢r¢ wcr¢ si&nifi¢ant opportunities to support the organization. and this would also help to reduce fil￿re financial risk. An initial prograrn of cost rcducÉion was undertakcn whilc rnairLtaining d$liYery capacity. TNsiees ¢onti]ku￿ to monitor filllding projectioijs in order io contaiti the deficit within sustainable level&. Trustees believe that a retLLTn to scale is possibl¢ within one-two years. Trustees believe that reserves should be set at a level sufflciettt to be enough to Cover l years of the Clwity's operating expenses. Bascd on anlicipated 2024 operating expeDditure of £1.05m, unrestricted rcsetves of £0.9Lll as at 31 D¢cember2023 ar¢ not in line withthis approa¢h. In ligbt if the disrnptioty to asignificant fi￿dill8 relatiOll5hip ill early 2023. trustees approvrd th¢ tcmporary reductlDn of rtrcEves in order to pratect the Charity's opcrations in thc short t¢rni until additional funding is se¢llred. Although Twstees COAtinue to believe World Obc5ity i5 a Going Concern, in line with the Charity Commission's r¢qusrement Ihal any Charity 5hDuld bc able to d55solve in an Drd¢rly fashion. they Ikave deteTmined that World ObEsIty FeAleration should retain a mknimum lev¢1 of unrestrÈ¢ted r¢8erve5 of £350k to ensure this. Trustecs ale awBre that having reduced reserves below the level required by policy, Ihere will be a PEiiod of T¢buildin8 reserves. This may therefore have a significant impact on an organisation's llnrestricted resources for fuiur¢ periods. 13 WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEIIqBER 2023 Investment pollcy The trustees periodically reY￿eW the policy for investing the fi2llds of the charity. It has b¢¢n decided tbat in the curtent phase of the World Obesity Federatiots's develop]nellt, funds will be retained as cash to ellsure that the activities of the f¢deration will bc adequately funded. Fiduciary responsibilitie5 The ttustees, WI￿ are also directors of the WorLd Obesity FedeEation for the purp08¢5 of ¢omp8ny law, ar¢ IE¥POD5ible for preparing th¢ Trustees. report andthe fitthncial statements in accordance wÉtb applicable lawatJdUniredKingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢el. Cotnpany law requires the ts￿￿tees to prepare fJnanciaI slalements for each financial year which give a truc and faIr vTew of the state of affairs of the ¢haii¢ablc CDEnpany atbd the group and of the incoming resources and application of resource3, illclllding the illccme and expellditu￿ of th¢ tharitable group for that period. tn prep￿ing these fuwicial statements, the tmstees are required to.. Scltct suitable accounting policies and then 8pply tbem CODSiSt¢ntly. Observe the rnethods and principles in the Charities SORP. Mak¢ judgetnellts and estimates that are reasonable and prudent. PTepare the financial statements on the going con¢crn basis unless It is inappropriate to presume that the Charitsble compally will wntinue in business. The trustCCS art ryollsiblE for keepin8 proper accounting records that disclose with reAsoDable accuracy at any titne of th¢ financial position of the cbaritrdblt company and group ylld enyble them to ensure thai tFA¢ financial statgmellts co￿pIY with the Cornpanies Act 2006. They are also responsible for safcguardiDg tbc asscts of tbe ¢lwitsblE company and rhe group and eDce for laking reasonable steps for the prevention alld detectioD of fraud and other irregularities. The ttustees are re¥p(In51bk f¢)r the malntella￿ce and integrity of th¢ corptsnte and fiTLancial inforniatioD included on the charitable company's website. Legislation in the United Kingdom governing tht preparation and dissemination of financial statements tnay differ from legislation in oiher jurisd(¢tions. In so far as wc are aware: There is no relevattl audit infomiation of which the charitable company 8t￿ group's auditor is unaware- and The thstees haye taken all step8 thaÉ they ought to have tsken to Enake th¢Tll5elve5 &waTe of ally relevant 8udit illformation to estsblR5h that the auditor is aware ofih8t ]nfottnatiuTh_ Financial Overview At the end of the yearto 31 De¢etnber2023 the total funds of the chatilable groupwere£861.394. The overall positio of the charity has changed from £1,123.566 irt 2ff22 to £861.394 in 2023. The n¢t position for the charity w&s a deficit of £262.172 ill 2023 compared to a surplus of £9,382 in 2022. At the end of the year a ￿vieW tsf our reserves w&s undertak¢n. This resulted in a total free reserve (excluding net book value of fixed assets alld desigllated fi￿ds) of £861 J94 at the ye2r end. The princspal income sources fot th¢ charity in 2023 were as follow5.. European Commission J(kUTnals 292,026 230,780 Clinical Educ&tioll (SCOPE) Research 164,450 152,323 EvEtkts 95,732 14 WORLD OBESITY FEDERATION AUDITORS REPORT FOR THE ITAR ENDED 31 DECEMBER 2023 Report of the Independent Auditors to the Members of the World Obesity Federatlon IRe2lstered nuTllber.' 031102726) OplnioD W¢havc audiiEd the FEnancial statelnellts of World Obesity Federation (th¢'¢haritable company'l for Iheyearended 3 1 December2023 wbich comprise the Siarement of Fin&nrial A¢tivitEes. the Balance Sheet, the Cash Flow Statement and notes to the financial gwements. including a summary of signifi¢ant ac¢owiting policies. The rinaticial reportillg framewo￿ that has been applied in their preparation is applicable law and Uni(ed Kingdom Accounting s￿ndards (United Kirjgdom Generally A¢¢¢pt¢d Accounting PTa¢ti¢e). In our opinion the fmancial statements.. 8ive a trn¢ and fair view of the state of the charitable company's affairs as at 31 December 2023 and of ils inco￿1￿8 resources and appli¢ation of r¢sources, including its in¢orne and expendsture. for the year tben ended.. have been properly prepared in accordance with United Kingdon Generglly Accepted Accounting Prdcti¢e' and have been prepared in accordance with the requirements of the Companies Act 2006. Ba515 for OPiDlOll Weconducted our audit in a¢wrdan¢¢ with International Standards on Auditing IUK) {ISAs (UK)) and applicable law. Oui te5POtistbilities under those standards are ￿rther described in the Auditors. r¢spollsibiliti¢s for th¢ audit oftbe financial statemetjtssection ofour reporL We are independent of the ch￿lable Lompany in acrorLlallre with thc cthital rcquiTemEntS that are relevant to our ludil of th¢ finallcftal state￿Ients in the UK, including tbe FRC'S Etbical stat￿￿￿ and we &&Ye fulfillcd our fither ethical ￿￿ponsIbilitieS ITL accordance with tbeEe requirements. Webelieve that the audiievidenee we have obtained is sufficient and appropriate to providea basis for our opinion. Conclusions relating to going concern. In auditing the filL￿cIal siat¢men¢$. we have concludcd that the trustees, use of th¢ g￿ing fOTtcetn basi5 of accounting in the preparation of the fLu&ncia] statements is appropriate. Bascd on the work we bave perfom]ed, we have not identified any Lnatcrial uncert3iUties relat￿g to tvtttts or ¢otsditions that, individually OT collectively, may c&st significant doubt on the ¢h&riiable company's ability to contit]ue as agoing con¢em fora period of atle&sttw¢lv¢ n￿nthS from when the f￿anCIal ￿atements 8re authorised for issue. Our responsibilities and the Te5p)nsibilitie5 of the truslees with respect lo going ¢onc¢rn are d¢8¢rib¢d in the ielevaTht sections of this reporL Other inEormAtio The I￿stee8 are responsible for th¢ other infottTratioEL. ThE Other infonnation (x)mpri5es the Inforn￿tiOn sncluded in the Annual Repo¢ othcr tb8n the fllJan¢ial sratements and our Report of th¢ Ind¢Frtnd¢nt Auditors thereon. Our opinion OTh th¢ financial Statements do¢s not cover the other Inforn￿tIOn aud. except to the exlent otherwise explicitly slated in our report, we do not ￿presS Any fomi of assuranre conclusion thereolk. In conneclioTr with our audit of the financial statements, oui responsibility is to read the other information an(L in doing $0, ¢on$id¢r whethcr the othcr inft>rrnalion is m3terially inconsistent with the financial statements, or our knowledge obtained in the alldit or oiherwise &ppe8tS to be matcrially misstatcd. If we Ident5fy such Tnatcnal Jncon515tencie5 or apparent material LllSS5taternents, we are required to deiemiine whether this gives rise to a material misstatement in thc financial 5tatement5 tlken)selves. If, based on the work we have perfomed, w¢ 15 WORLD OBESITY FEDERATION AUDITORS REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 conclude that ther# is a material misst&terrL¢llt of this other inforn]ation. wc art fCqUTied to report that f8¢t. We htve nothing lo report this regard. OpiDlon$ on other matters prescribed by tbe Companles Act 2006 In our Opinio￿ based on t￿e work undertaken in tbe rourse of the audit: the inf0rn12tion given in the R¢port of the Trustees for the financial year forwhich the financial slalements are prq)ared is EOnS15tent with the financial statements. and the Reportof the Tru5fces has been pr¢paT6d in accordance with applicabl¢ legal requirements. Matters on whleh we Rre reqlllred to report by exception. In the light of thc knowledge Jnd understanditig of the charitable COEnpany and its ¢nvirollrnent obtained in the course of the audii, we ha￿ not id¢ntified Etlaterial misstsiements in the Report of tke Trustees. We have nothing to report in of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adeqUateac￿llntl￿g recor&% have noi been keptorreturns adeqvatc forouraudithav¢ llotbeen received froni brdn¢hes [￿t visited by us,. or the financial statemettts are not in agreement wth the accowiting tecords and retums,. or certain disclosurcs of trustees, r¢munetation specifitd by law are not mad¢- or we have not received all the infottnatioll and ¢xplallations we require for our Audit., or th£In￿te¢S werenot entitled io takeadvantage of the small eompanies. exernptloll from the requirement to pr¢pare a Strate81¢ Report OT in preparittg the Rcport of the TTU5te¢s. RespoR5ibt]itie$ of trustees As explained inore fidly in Statem¢nt Df Trusttts. Responsibilities, the ttustee5 (who are also the dir¢ctots of the charitable compolly for the puryoses of compally law) are responsibl¢ lor the preparation of the financial siatrments and For being satisfied that they Etve a trne and f3ir view, and for such internal cotjirol as the trustce$ d¢t¢miine is nece$$ary to enablc the prep3ration of financial statements ihat free frorn m8t¢rial tnisstaternent. whdher due to fr&ud or e￿Or. tll PTeparing the fLttaDci&l statcmeTrts, tbe trust¢es are responsible for assessing th¢ ¢haritsble cotnp8ny's ability to colltinue &s agoing concern. dlsclosing, applicable, matt¢rs related to going collcem andusing the going￿ll¢tr basi$ ofaccoullting unless tILe trustees either intend to liquidale iht charitable compauy or to cease operations, os hav¢ realistic alternative but to do so. Our respon$5bilities for the audit of the finantfal 5taleJnent5 Our obl￿tiVeS are to obtain reasonable assutance about whether the flnancial slatEments as a whole are fr¢e fro aterial misstatement, whetherdue to fraud or error. and to issue a Reportof the IndependentAudators that Jncludes our opinion. ReasonablE assura￿ce is a high level of assllTan¢e but is not a guatantee that an audit ¢ondu¢ted in a¢¢ordaDce wrytb ISAS (UK) will alwiy5 detect a material misstatejnettl when st exists. Mi5Statemellts can arise &u]n fraud or ertor and are considered matcrial if, Individually or tbe aggregate. tbry ¢ould reawnably be expected to it)fluEnce the econotnic dtcisions olusers takcn on the basis of these tinancial statements. The extent to which out t)ro¢edure5 arc capable of detecting irregulaitties. including fraud is detailed b¢low.' 16 WORLD OBESITY FEDERATIO AUDITORS REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 - Idcntify and assess the risk ofmaterial misstatelnent of the financial statemenis. whether due to fral￿ or ¢rror. desigtL aThd pthrni audit procedkLTeS fcsponsivE to tIK>se risks. and obtsin audit evidellce that is sufficient and appiopriate to provide a basis for our opinion. The risk of not delccting a TtJat¢rial mi5Staternent resulting fro fraud is higher than foroneresulting from error, as fraud may involve collusion, forgery, itjtentional omissious. misrepresrntdliOti& L)r the override of internal coThttoI. - Obfaill understanding of internal coThtrol relevant to the audst in order to dest￿ audit procedures that ar¢ approprsale in the citcujnstanees, but Lot for th¢ p￿￿seS of expressing an opillion on the effectiveness ofthe ¢ompany's internal control. Evaluate the apptDPll&tencbs of accountin8 policies used &nd the re&sonableness of accounting estimates 8nd the related dlsclosures made by the directors. - Conclud¢ on the appropriateness of the directors, use of the going concern basis of accounting and, based on the audit ¢vidence obtaine& whether a material uncertainty exists related to event or collditiolls that tnay cast significallt doubt on the cojnpany's ability tt> conttnu¢ as a going concern. If we coJ]clude that a rnaterial uncertaillty exists, we ar¢ required to draw attentiDn in our auditor's report to the r¢lated disclosure in the finJn¢ial statcmcntsor, if 8uch disclosures are inadequate to ￿odIfy oui opinion. OurconLIusiuIis dre based on the audit evidenc£ ob&ined up to thc dale of our auditoe5 repoA. However, fuwre evenis or conditions may eause th¢ company to cease to continue as a going concern. - Bvaluate the overall presentation, structur¢ and content of the financial statements, including the disclosures. andwhether the fittan¢ial statements repte5¢nt the underlyingtransa¢tions and events ITr a tnannerthat achieves fair preseTrtation. A furthcr descnption of our responstbilitÉes for the a￿1t ofthe financial statements is located on the Financial lieporting Coullcil'5 websitc at ￿￿w.frC.org.uklaudiloIsre$p0￿slbll1ties. This de5crsption fanns part of our Report of thr Independent Auditors. Use of our report This report is mode solely lo the ¢hariÈable company's members, as a b(rtly. in ac¢ordance with Chapter 3 OF Part16 of the Companies Act 2006. Our &uditwork hasb¢¢n undertak¢n 50 thatwe mightstate lo thecharitable tompany's members those matters we &re required lo stale lo them irt an auditors, report and for other puryose. To the thllestextent petmittEd by law, w¢ do notaccept or Assume responsibility to anyone other than thc cb&ritable company artd the charitabl¢ ¢ompany's rneTnbers as a body, forour audit work, for thi6 tqJOTt. or for the opinions we have formed. H M Day (Senior StattI￿ry Auditor) for alld on behalf of Xeinadin AuditinE Chartrrtd Accountants and Staiutory Auditors Becket¢ House 36 Old Jewry LDndo EC2R8DD WORLD OBESITY FEDF.IL4I"IU,Y STATEMENT OF FINANCIAL ACTIVJTEFS CHAIUTY IlncorporatinÉ Intome and ExpeDdlture Account) FOR THE YEAR ENDED 31 DECEMBER 2023 Kestrictsd Unrestricted 2023 Tot21 Fund5 2022 TDtAI Fund$ F￿lld$ Funds INCOMINC RESOURCES Notes lotoEning reSou￿e$ from generated funds.. itscome DottatioJ)5 and legacies Aettvitles for generatlng funds: Collgttss alld Ev¢nis Royalties and othcr 1￿COn InveSt￿e￿t tllcume Inv%ttneni income 08.458 68.458 113.955 271.607 271.607 327.021 lucgmtng reEollrtes fro￿ Chwrltable Aedvitlu: Policy Education Re5eat¢h Memb¢Tship 53.135 235.222 53.135 235,222 292,026 27.581 86.878 1,205.258 506,849 22.142 291026 27.581 Tothl i￿¢0Ml￿g resourcts 292,026 656,004 948,030 2.262,103 RL8OURCES EXPENDED Costs fyf geDcrAllDg funds Volunw income 340,471 346.471 402,096 346.471 346,471 402.096 Cbarllable ittivirf&s'. Polity Membership Services Education Research 113,421 40.898 339,574 369.838 259,151 37,501 925.781 628J92 40.898 330.958 110,299 2.616 259,539 Tot•1 ¢harltiblc ￿PendItU 262,155 601,5?6 863,731 1,850.625 Total rtsollrces eipended 262,155 948.047 1210.202 2252.721 Net In¢omlng res￿￿re¢S before transftrs betweell funds 29,871 (292.0431 (262.172) 9,382 Trdfi5fers between fujjds 129,871} 29,871 Net tttovc]neDtAtt fllnds 1262.L72) 1262,1721 9,382 Funds9t l January 1.123.566 1,123,566 Fwnd5 at 31 DÈeeuJber 861,394 861.394 1.123.566 All of the Ébove resulis arc derived from continuiThg activities. There w¢[¥ no other ￿0g￿lS¢d gains or losses otlker than those stated above. Movcnients in funds ate disclosed in note 12 to the f￿ancial Siatements. The note5 on pages 2 1 to 28 form patt of these fInancial statements. 18 WORLD OBESITY FEDERATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note5 FIXED ASSETS Tangible fixed assets 7.513 7,513 CURREYI r ASSETS D¢btors Cath at bank and in hand 646,591 757,210 351,393 1,260,362 .403.801 1,611,755 CREDITORS: amounts falling due within oThe year 10 (542.4071 {495.702} NET CURRENT ASSETS 861,394 I,L16,053 Nfl ASSETS £861,394 £1.123,566 kcstricted funds Unrestricted tiinds- general fund 861.394 1.123.566 £861,394 £1,123,566 Tbe financial statement$ We￿ approved and authorised for issue by th¢ Board of the Truste￿ on 24 May 2024 and wer¢ signed below on its behalf by.. TtU5tre Professor Caroline Apovian Tn]ste¢ Professor Louise Baur Thc notes on pagcs 21 to 28 fomi psrt of these financial Slatements. 19 WORLD OBESITY FEDERATiof4 Comp&Dy Number: 03802726 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cth flows from operating activitbe5 (502,039) (923,299} Purch28e of tangible fixed assets Sale uf tangible fixed a55ets IDterest received (1.114) {9.172) Change in cash and CBsb tquivalettts in the reporting period (503.152) (932.4711 C&sh and cash eq￿1Valents al the b¢gillnin8 of the reporting period 1.260,362 2,192,833 Cash and c￿h Equivalents at the end of the reporting period 757 210 1260 362 N¢t incotllelexpcndilure for tbe reporting period (as per the 81at¢mrnt oÉfinallcial activitie8) (262,172) 9,382 Adjust￿entS for.. Dtpreciation charges i&)ss on di8posal of fixed a&%ets I￿terest Teceived 8.627 7,200 3,384 D¢ctc&8el(increase) in debiors (DeereaseFincre&se in CredI￿r$ (295.198) 46,703 292.672 (1.253.936) 502 039 923.299 20 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATELMENTS FOR T]￿ YEAR ENDED 31 DECETrIBER 2023 ACCOUNTING POLICIES as18 of &ccountlng The financial gtateTn2nts of the charitablE conipany. which is a public benefit entity uThder FRS 102, hav¢ been prepared itt accordance with the Charitie5 SORP (FRS 102}'Accounting and Reporting by Charitics.. StatevtteDt of Rec0￿Mended Practkce applicable to charities preparing their accounts in e¢¢ordancc with the Financial Rcporting Standard applicable iti the UK and R¢public of ITeland (FRS 102) (effective L January 2019)., Fil￿ncIal Reponing Stalldard 102'The Financial Reportillg Standard applicable in the UK alld R¢publi¢ of ITelalld' and the Colnpallies Act 2006. The f￿ancIal stalcmen(s have bten ptEpared under the historical cost convention. The reportfftg curren¢y for the financial statements is GBP. b) Illeome re5ouree5 Donations and Erants Inco￿¢ frotll donations ￿ grants are included in incoming resources when these arereceivable except as follows: When donors specify that donations and grants given to thc charity tnust be used in future accout]ting periods, the incotne is deferred uniil those periods. When donors ITnpDse"rondilions which have to be fulfilled b¢for¢ the charity be¢omes entitled to Use such income, the income 15 deferred and not tncluded ￿ InEoTning re50urce5 Until the pre-conditions for use have b¢eTJ Tnet. When donors $pe¢tfy that dv]lltiL)ns and graAts are for particular r¢stri¢t¢d pu4)oses. wbich do not a￿out1t to pte- conditions regarding entitletnent, this income is llKluded in inco]ning rtsources of restricted fvn(Ls Evhen teceivable. MembeY8hlp dues Advertlslng and pthblishinE royglties Incom¢ from tne￿be[shlp dues. advert15ing and publAshing royalties are included in the SOFA when the charity legally enlill¢d to the income and the alnount cBn be quantifLed with reasonable a¢¢utacy. Investment income Inve5tsnent illcorne, including interest re¢¢ivable, is snGluded when ieceivable by the charity. Project Income In¢ome from projects 15 trcognised on an accrnals basis as the work on that projeci progresse Resource5 expended Resou￿¢S expended are included in the SOFA on an accrual's basis. Certain expendituTr is directly allnl)uthble to swific activities and has been included in those Cost ¢at¢gorie5. Shared and illdtEe¢t ¢05ts ate apportioned on the basis of stsff time and the Aurnber of full-time equivalent staff. Costs which aTe attributsble to more than on¢ activity, are apportioned act05S C05t categories on the basis of an estimate of the proportion of time spent by 5traff on those act￿VIlles. Fulldraising ¢osts are those ¢osts incurred in seeking vollltttary cootributions publi¢ity Costs associated with raising thc profile of the charity. GoYerDance ¢osts are th05¢ illcutt￿ in connection with ellabling the company to comply with external regulation. constitution and siaNtory r¢quirements and in providing support to the Ituste¢s in the discharge of theTr statutory duties. 21 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (tontinued} d) T2Dgible ftxtd assets All a58ets purch&std for over £2.000 will be capitslised. Depreciation is provided on all tangible fixed assers at rdtes calculated to write off th¢ cost of each asset over its expected useful ecOno￿]C life atthe followiThg rates= Fixtures. fittings aThd equipm¢nt Con)pllter equipment 25Yo & 33° Invufmeuts Investments are srated at market valLEe at the balance sbeei date. The SOFA includes the net gains and losses atising otl Tcvalualions and disposals throughout the year. Pen51on$ The chaiity operates a defined contribution scbeme for ibe bettefit of its ¢￿P]￿Y¢e￿ The costs of contrtbutiolls are charged to the in¢ome and ¢xpettditwe accouni ill the yearthey are payable. Flnance and operatittg leases RentalB payable undeT operating leases charges to the SOFA as incllrred over the term of the lease. foreign currencles Transactions in foreign ¢urrencies are recorded at the rate ruling at the date ofthe transaction. Monetary assets and liabilities are retranslated at the rate of exchange ￿11￿8 at the b41an¢e sheet date. All differences are taken to the SOFA. i) Fund aecounting General funds are unrestrict&J funds which are available for use at the dts¢retioll of the Twste¢s in fi]rthernu¢e of tb¢ gen¢ral objr¢liYes of th¢ company Bnd which havc not been designated for otberpurposes. DesigJ)ated funds cotnprise unrestrictrd funds that kave beenset aside by tbe Trustees for particular purposes. The aim and use of ea¢b designated fuud 15 set out in the notes to ihe fillancial slaten)ents. Restricted fullds are fimds which are to be used in a￿ordance with specifi¢ re5triGÈioTrs iTnp05ed by donot5 which have been raised by the coinpany for partiLuldr putpus¥5. The Lobl of raising and administering Such funds are charged against th¢ sp¢¢ifi¢ tiind. Th¢ aim and use of each restricted fvtld is 8Ct out the notes to the financial 8tat¢mtnts. i) CriticAI Accounting Judgemtnts and Key Source5 of EstimatlOD Uncertainty In th¢ application Of the ChariW5 accouiiting policies which gre described above, irnsiees are required to make judgemenis, estiTnaies and assumptions about the catryin8 values of ass¢ts and liabilities that are not readily apparent frotn other sources. The estimates and uttderlying assuTThP(iuns based hi&loncal experience SJMI other factors that are consider¢d to b¢ rel¢vanL Actual results m8y differ fro￿ these estirnates. The cslimates alld llnderlying assumptions are revsewed on att ongoing basis. Revisions to ￿Coul]ting estÈrnates ar¢ recognised in the period ia which the estimate is revised if the revisioll affects ooly that period, or in theperi of tevi5ion and future periods if the revision affe¢ts both cwr¢nl and fuwre periods. The key sources of eslimalion uncertainty Ihat have a Si8Aifi¢ant effeci on Ihe amounts recognised in the financial slatements are described below= Depreciation Assels 8re writtell dowll over thEir e5titnated useful lives. The 8Ctual lives of the assets may differ from those esiimates. The lives of the assets are kept under review and adjust¢d a3 appropriatt. 22 WORLD OBESITY FEDERATION, NOT&S TO THEI FINAf4CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 VOLUNTARY INCOl*lE Restricted Funds Unrestricted Fund5 Total fund5 Total fjjnds 2022 2D23 DonaliotL5 68.458 68.458 113,955 £68,458 £68,458 £113.955 ACTivrriES FOR GENERATING FUNDS Restricted tkds Unrestricted Total fund$ Funds 2023 TDtal funds 2022 Publishillg royalties Other income 172.730 98.877 172.730 98,877 160,045 166,976 £271.607 £271.607 £327,021 TOTAL RESOURCES EXPENDED Stsff Costs Direct Costs Support Costs 2023 Total Costs 2023 Total Co8ts 2022 Membership Policy Education Research VoluThtary income 33.384 74,244 138.888 237.472 260.029 3.013 36,926 188249 113,294 79,690 4,501 2,251 12,437 19,072 6,752 40,898 113.421 339.574 369,838 346,471 37.101 259,151 925.781 628.592 402.096 £744,017 £421.172 £45,013 £1,210,202 £2.252.721 SUPPORT COSTS COIIAPRISE OF: GoverR8nce C•st$ Staff Costs Other Costs Totsl Cost5 2023 Totsl C&$ts 21J22 Membership PolIcy Edu¢ation Research VoLuntsry thcomE 15,373 7,686 42,475 65,133 23,059 10,310 5,155 28.487 43,683 15.465 (21.182} (10,590) {58.5251 {89,7441 131,7721 4,501 2,251 12,437 19,072 6.752 20.079 40.157 140,550 140,550 60,236 £153,726 £103,100 £1211,8131 £45,013 £401.572 23 WORLD OBESITY FEDERATIOI), NOTES TO THE FINANCIAL STATEMENTS FOR THE ENDED 31 DECEhlBER 2023 NET INCOMING RESOURCES FOR THE YEAR 2023 2022 Th1$ 1$ $tsted after ehar%ln8: Dtpreciation L05s on disposal of f]xed assets Auditors, rcmuncr&tiott Operatitig lease renials- Land attd buildings Other 8.627 7.2(M) 3.384 6,000 63.573 6,0￿) 12,6(X) During tbE yvar, no Tnsslees re¢¢ived any b¢n¢fits in kind (2022- £Nil). Duting the year, Ttusle< T¢c¢iv¢d reimbursement of £4.072 expenses (2022- thil). STAFF COSTS 2023 2022 Stsff cost5 Iver¢ AJ folloTrvs: Wages and salaries Social se¢utity costs P￿￿10￿ costs 842.444 64.358 52,670 698,965 77.999 58,166 £959,472 £835,130 The number of employees whosc emoluTnents fell within the following bands was= 2023 2022 £ 60,000- £ 70,0(bo £ 70.000- £ 80.000 £ 80.000- £ 90.000 £150.(M)0- £160.000 The average nunther of employees w&$ ￿ follows.. 2023 Nvmb¢r 2022 Number Charity obje¢tive8 and Projects trading activity Fundraising al￿ publicity Managemeni and adIIiinisttaiion 12 15 14 17 TAXATION Thc charitable cotnpany i5 ￿Ernpt from corporation trx a5 all its in¢om¢ is ¢haritabl¢ and is applied for charitable pu￿$£$. 24 IVORLD OBF..SITY FEDF.RAI'IUN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 TknNGIBL£ FIXED ASSETS Office and Computer Cost At l January 2023 Athiitions Disposal 25,288 At 31 Decetnber 2023 26.402 DepretlAtIo At l January 2023 Charge for the year Disposal 17,775 8,627 At 3 I December 2023 26.402 Net Book Value A131 December 2023 At 31 Decemb¢r 2022 £7,5 13 DEBTORS 2D23 2Q22 Due wkthln one yeAr rade debtors Prepayments and x¢Ned inc0￿C Other debttTrrs 45,000 414244 187,347 48,855 301538 £646.591 £351,393 25 WORLD OBESITY FEDERA TION NOTF.S TO THE FINANCIAL STATElI IIEINTS FOR THE YEAR ENDED 31 DECEIl(BBR 2023 io. CREDITORS: a￿O￿At5 falllnE due wlthln one year 2023 2022 Trade creditors Social security and oiber taxes VAT Other Creditors Accrnals and deferred income (see below) 17.578 l4,218 82.689 21.233 20,444 8,053 363.283 9,849 5(N).762 £542.407 £495.702 Pension ¢ontributionstotsl]ing £5,005 (2022.. £6,304) werepayable at thc yearetld and gte included within other citditors. DEFERRED INCOME 2023 2022 Amtsllnts brought fonY8rd Released in tbe year DefaTed dllring the year 290,620 (258.620) 452,188 1,570.251 (1570,2511 290,620 Balance as at 31 Dec¢mb¢r 2023 £484.188 £290.620 Charity def¢￿ed 1￿C0￿e of £484,188 r¢laled to income receiv¢d in 2023 and 2022 in advaiLce of projects and ture conferellces. 11. STATEMENT OF FUNDS Restricted Funds EUproj¢cts.' This part of the restricted fimds 15 received from the EU Cornmissioll for ¢atrying out r¢seatch t¢lated EU projects. Through collecting obcsity related inf0Tll￿lLo￿ and allaly515. the projects a5SlSt the policy makers throughout Europe to impleu)ent appropriAte obesity strategses. EU norm&Ely only providcs partial EundiDg for the proj¢cts therefore the ietnaining balances are covered by the World Obesity Feder￿Aon'S general fvnds. siITrtMARY OF FUINDS Brought Fonyard Incoming Resource$ Resourte$ Expended Transfers IDI{out) Carrled Forw*rd Uute5tticted Funds 1.123.566 656.004 {948.047) 29.871 861,394 Restricted Funds 292.026 (262,155) {29,871) Total of Funds £1.123,566 £948,Q30 £11210,2021 £861,394 26 WORI.D OBESITY FEDERATION NOTES TO THE FINANCIAL STATRMEISTS FOR THE ISAR ENDED 31 DECEMBER 2023 12. OPERATING LEASE COMMITMENTS The following paymenÉ5 ate COmTnitted to be paid within one year.. Land building5 2023 2022 Eiplylng: Within one year Bthveen ODe and five years 6,048 6,720 £6.048 £6,720 13. knYALYSIS OF NET ASSETS BETWEEN FUNDS Restricted Unrestrlcte Total Funds Fund5 Funds Tkngible r￿ed assets Inv¢stme]]Is Cutrent 0S5¢t5 Curtent liabilities 1.403,801 (542.407) 1,403,801 (542.407) Net assets £512,436 £861.394 27 WORLD OBESITY FEDERATION ,NOTES TO THE FILNANCIAL STATEMENTS FOR TH8 YEAR EAYDED 31 DECEMBER 2023 14. Ctbmpar8tlve for the SOFA 2022 Total Funds Restricted Funds Unrestrieted Fund$ ILYCOMING RESOURCES Notes Inco]thE resollree5 from generAted fuDd5: Yoluntary income Donations and legacies Actlvltle5 for genera(Ing funds: Congress and Events Royalties and other in¢orne lllvestmeRt incorne Investsnent iticome 113,955 I l3.955 327,021 327,021 lllcoming resources from Ch8ritsble Activitles: Policy Edu¢aiion Research Metnbership 86.878 1,183.135 3 10,350 22,142 86.878 1,205.258 506,849 22,142 22,123 196,499 Total jDroming resources 218,622 2,043,481 2,262,103 RESOURCES EXPENDED Costs of generatlng fullds V(Jlunlary illCf>me 402,096 402.096 402.096 402.￿6 C.haritablt 8ttivitie5: Policy Membe15hip Setvic¢s Education Rcseareb 259.151 37,101 903.658 423,204 259.151 37,101 925,781 628,592 22,123 205.388 TotAI charitable eJpenditure 227,511 1.623,114 1,850,625 Total r￿OurCeS expended 227,511 2,025210 2252.721 Net Incomkng resources before transfers betiveen ￿rtd$ (8,889) 18,271 9,382 Transfers betweell fvtsds 8,889 (8.889) i et move￿ellt In funds 9.382 9.382 Funds at l January 1.114.184 1.114.184 Fun(ts 2t 31 DÈtember 1.123.566 1.123.S66 28