WORLD OBESITY FEDERATION (A Compai)y linlited by guaraiilee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER2024 Conipaijy No: 03802726 Charily Iyo: 1076981 CONTENTS Pages Legal and adininistralive infonmation Ti'ustees, report 2-12 Independent aiidilors. report 13-15 Statenienl of Financial Activities 16 Balance sheet 17 Cash Floiv Stateii)ent Notes forining part of the financial statements 19-26 WORLD OBESITY FEDERATION LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Dr Bruno Halpem (President-Elect). Professor Louise Baur (Pasi President). Professor Jason Halford (Treasurer) Professor Karine Clement. Resigned 1st March 2025 Dr Kyoiing-Kon Kim. Dr Ada Cuevas. Ms Ainber Huett Garcia. Mr Stephen Odhiainbo Ogiveno. Professor Dieler Kcnl Biise. Appoinled 15 February 2024 Professor Nick finer. Appointed 17 July 2024 Professor Volkan Yuinuk. Appointed 17 July 2024 Professor Fabio Trujhilo. Appointed 13 F¢briiary 2025 Professor John Wilding (Past President). Resigned 17 July 2024 Professor Caroline Apovian (Treasurer). Re5igiied 17 Jiily 2024 Dr Donna Ryan. Resigned 17 JLily 2024 Professor Alafia Sainuels - Resigned 15 February 2024 Mr Adain Mccorinack - Resigned 13 February 2025 Dr Elizabeth Parks- Resigned 31 December 2024 Ms Karcii ,8ealcy - appoinlLd l March 2025 Chair Dr Sijnon Barquera (President) Secretary Mrs Johanna Ralston CEO Mrs Jolianiia Ralstoii ConipAiiy Registered Niimber 03802726 Cliai'ity Registered Nuiii ber 1076981 Auijitors Xeinadin Audit LTmited Cl)artered Accounlanls aTtd Slaliilory Audilors Nightingale House, 46-48 East Si, Ep501n KTI 7 1 HQ Prliiclpal Office Addre55 3 Waterhoiise Square 138- 142 Holborn London ECIN 2SW Pj'ijieipal Ilaiiker HSBC Bank 15(Fl 57 Tottenham Coiirt Road London Wl P 9LJ Solicitors Penningions Solicitors LLP da Vinci Hoiise, Basiiig Vieiv Basingsloke Hampshi￿ RG214EQ The tnislees have prepared this report and financial slalcinenls in accordance ivith the UK Coinpanies Act 2006, the UK Charities Act 201 l and the Stateinenl of Recoinmcndd Practice: Accoiinling 11nd Reporting b), Charities (FRS102) WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Dear colleagues On behalf of the World Obesity Federation. I aRn pleased io present our annual report for 2024. The global challenge of obesity continues to deinand iirgent and coordinated action. Despite coniiiiitinents to halt the rise in obesity, progress reinains sloiv, arid millions Conliniie lo face the health consequences of inadequate preveiilion and cal'e. Hoivever. 2024 ivas a year of Inomentuin-one in ivhich the collective efforts of our Jneinbers, pai'tners, and ¢omRnunity led to meaningful progress in reshaping policies, an)plifying voic¢s, and driving ¢vidence-based action. Throiighout the year, Ive advanced oiir Inission througl) advocacy* research, and collaboration. World Obesity Day 2024 saiv unprecedented engageinei)t, Ivilh a canipaign higliligliiing ihe inters¢clions betsveen obesity and broader health challenges, helping to shift narratives and encourage systemic change. Our partnerships ivith ihe WHO, UNICEF, and other global organizations reinforced the urgency of addressing obesity as a priority heallli issue. The Inieriiatioiial Congress on Obesity 2024, held in Slo Paiilo, broiight logell)er experts froin arouiid the ivorld to sliare Il)e latest science, policy strategies. and clinical approaches. The conference reinforced the need for ii1iilti-sectoi.al solutions and slronger inlegralion of obesity inlo global health fraineivorks. Oiir education and data inilialives expanded fiirther, iyith increased partietpalion in SCOPE training and record engagement Iviih the Global Obesity Observatory, Ivhich noiv serves as a vital resource for policyinakers and researchers ivorldivide. Visits to our Global Obesiiy Observatory in 2024 reached over 2.4 inillion and a slaggering increase of over a million visits froiii 2023, Ivith iYebsil¢ iisers rising to over 800k, Ivith visitors froii) niore than 230 countries, islands and territories. At the heart of all our ivork is oiir groiving neiivork of Ineinbers. In 2024, Ive iyelcoined 12 neiv meinber organizalions, bi'inging our lotsl to 109 across 125 ¢oiinlrie5 and te￿ilorIeS. We also saiv leadersliip Iransilions iyilliin oiir governance, Iviih a neiv President, Presidenl-elect, and regional represeiitalives taking on key roles to help giiide our sli'ategy forivnrd. We also secured a neiy coiitract iviili our publishers, Wiley, for our journal portfolio. This has secui'ed a significant IT)crease in guaranteed incoine froiii tlie journa15 for the organisalion for the coming years. As lye look ahead to 2025 and beyond, ive rel￿aIn cominitted to advancing a coii)prehensive, evidence-based Approael) to obesity tliat prioritizes prevention, trealinent, and the lived experiences of those affecied. Our neiv Iliite-year slrategi¢ plan, laiinchii)g iii January, Ivill focus on slrenglhening nattonal action. addressing sysleini¢ barriers, and eiisuring obesity A'eii)ains a centi'al issue on the global health agenda. l exlei?d iny sincere grdtitiide lo our Board Inembers, volunteers, Ineiiibers, aiid staff. Your dedication continues lo drive progress and impact in oui. shared niission. Sinr¢rely> Slnioii ljai'quera, President WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Legal status of the World Obesity, Federation Tli¢ World Obesity Federation (hereinafter World Obesity) Ivas incorporated in ihe Uniled Kingdojn on 8 Jiily 1999 and is a private cojnpany liniiled by guarantee (company regislralion niimber 03802726). Woi'ld Obesity is governed by ils Meinorandum and Articles of Association, as updated most recently on 12 July 2023.World Obesity is a registered charity (charity nuinber 1076981) and is not einpoivei'ed io make financial distribulions to ils members. Strategic goals In line iyith ils professional Ineinbership and its charitable slalus, World Obesity airns to lead and drive global efforts lo rediice, prevent and treat obesity. World Obesity's vision is lo create and 1¢4td o global coininunity of organisalions dedicated to solving Ihe problems of obesity. The strategic goals of World Obesity are: Lead global advocacy for obesity. Conven¢ slakehold¢rs globally. Train and biiild capacity in obesity. Colle¢1 aiid disseininate knoivledge on obesity. Activities and aehievements A ivide raiige of activities are undertaken to support the slraiegi¢ goals, including,, Menibership Global policy developinent and advocacy Convening leaders and experts World Obesity Day World Obesity Day Atlas Clinical Ediicatioii (SCOPE) Middle East and Nonli Africa Working Group Collecting and disseininaling knoivledge on obesity Joiimals Global Obesity Observalory Fiirther delails on each of these activity areas are provided beloiv: Membei'ship Woi'ld Obesity Federation has a reinit of represenling ils meinbers il)roiighout tlie ivorld, advocating for scientific and global approaches to obesity maiiagemenl, treatment, patient care> pr¢vention aiid aivareiiess. A lolal of12 neiv organisalions joined World Obesity in 2024, folloiving a successftil application process ai)d approval by the Board of Trustees aiid 2 Associal¢ Members were Ungraded lo ftill ii)einbership. Seven WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 of these applications ivere accepted at the Full Member grade, Ivith the ren)aining applications being approved as Associate Meinbers. A furtller 4 appltcalions iyere rejected by the revieiving bodies. World Obesily's rteiv inei))bers in 2024 ivere: Soiilh African Metabolic Medicine and Surgery Society (SAMMSS) - Associale Meinber,. Associalion foi. Ilie Figlii Against Ob¢sity (ALCO) Costa Rica - Associale Member, Italian Baroinelei. Diabetes Observatory Foiindalion (IBDO), Italy - Associate Meinber, Coalition of NGOS in Nutrition and Food Seclirity - Full Meinber, Society for Korea Obesity and Metabolisin Studies (SOMS) - Full Meinber, Healii)y Weigl)I Association, Fii)land - Fiill Meinber, China Obesits. Federation (COF) - Associate Mei)Iber. Bangladesh Eildocrinc Society (BES) - Associate Member. Slovak Obesity Association - Fiill Meinber. Costa Rican Association of Melabolisin (ACOMET) - Associate Meinber, Balirain Diabetes Society (BDS) - Full Meinber. Health Care Associatioii of Nepal (HCAN) - Associate Meinber, There are foiir regional organisalions ivitl) a￿1]latIOn lo World Obesity: Ihe Asia Oceania Associalion for Ihe Sliidy ofobesily (AOASO), the ELiropean Associalion for the Snidy ofobesity (EASO), Ihe Latin Aiiierican Federation of Obesity So¢Aelies {FLASO) and The Obesity Society (TOS) representing Noi1h Aiiierica. Work is underivay to also establish a Middle East regional association (MENA), Ivhich ivill also be affiliated to World Obesity. At the end of 2024, WOF could count on 109 member organisaiions over Iliree grades (76 Full Meinbers, 29 Associate Menibers, 4 R¢gional). These organisalions iyere active in Inany of the areas proinoled by World Obesity Federalioii for Ineinbers, incliiding SCOPE training, convening (via oiiline and soine physie81 Ineelings), participation iii WHO processes, and obesity data, The benefits of being part of WOF inclLide opporlunilies 10 nelivork and share resources and experiences ¥vilh felloiy professionals, palienls, advocates aiid allics froiii all over the iyorld as ivell as tiiformalion sharing, participating in events and I'ouiidiables, aiid ad hoc siipport. Other specific benefits incliide: Discoiinled registration fees lo World Obesity events and the International Congress on Obesity (ICO) Discoiinled siibscfipiion rates on the World Obesity journals World Obesity's International Aiyards for Scientific Excellence Invitation to atteiid our Annual General Meeliiig {Asso¢iate iiieiiibers in o 11011-voting capacity) Ac¢es510 inlernalional policie5, project updates and stalislics on obesity via Ilie World Obesity Data Portal 500/0 discolinl on payiyalled SCOPE E-Learning coiirses and 250/0 discount on the SCOPE Accrediiaiion fee foi. Inetiibei's as ivell as access lo SCOPE Schools Meinbers e-neii'sletters and ivebin4rs 200/0 Discoiinl oil Wiley piibli¢alions and 15Yo discoiint on medical books from wisepress.com Invilalioi) to bid for holding regional and international World Obesity Confereii¢es Leading global advocacy foi. obesity Tlie road to tlie Fourtli UN High-level Meeting on Non-comiiiunicable Diseases (NCDS) in 2025 15 fiilly ui)denvay and Iliis ycar iye've leveraged advocacy opportunilies at seveial UN fora lo help ensiire obesity is a priority in th¢ global health agenda. Workiiig ivill) WHO and UNICEF, our parlners in the Global Obesity Coalition, the team has convened high-level events and is helping Inobili5e civil society lo siipport the WHO Acceleratioii Plan lo Stop Obesity by laiinching a global coiiiinuiiity of practice. Global policy development an(1 advocacy World Obesity's advocecy priorilies continiie lo be fociised on the recognition of obesity as boil) risk factor and disease. aiid tlie need io priorilise obesity ivilhin healtli systems and food systeins. Iii oiir capacity as a WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 non-state actor in o￿lcIal Telation5 Ivith WHO, World Obesity staff and inembers participated in a number of high-level rneelings ihroiighoiit 2024. In Janiiary, World Obesity participated in the Executive Board contributing io disciissions on key agenda iteiiis, including on Universal Health Coverage and social participation to accelerate progress loivards it, Malernal and infant h¢alih and niitrilion. Cliinate change and health, and leveraging the poiv¢r of sport for iInpi'oved liealth and iyell-being. In addition, Ive also participated ii) a constilLiency slateinenl for NCDS, as Ivell as a joint slaleinent for malemal, infant and yoiing cliild nutrilion. Tlie World Obesity leam joined our Inen)bers and felloiv health organisations at the 77tli World Health Asseinbly (WHA) in G¢iieva diiring May to progress aclion on obesity. We participated in a high-level event aroiTnd the WHO Acceleraiion Plan to Stop Obesity eo-hosled by the Ministers of Health fi'oin Spain and Jordan. We also co-hosted an event iyiih partners on the digital markeiin8 of breaslniilk substitules, Ivhich is iii dire need of regiilalion. To fLllther l)ighliElil the need to address obesiry and cardionietabolic disease together, Ive co-hosted a side event ivith World Heart Federation on health systems preparedness to address both global health clialleiiges including speakers fyotii Ii)dia, Ghana and the UK. The leain also look parl in the li)lemalioi)al Dialogue oil Sustainable Financing for NCDS aiid Mental Healtli, joining participanls froiii governiiients, civil society. acadeinia and philanthropies in Washington, DC in Jline, al the ineeling co-liosted by WHO and Ihe World Bank. OBCT 111 2023 ive iyere involved in a successfiil bid for Ilie involveinenl in a neiv EU Horizon-fiinded pi'oj¢cl Obesity.. Biological, SocioaCiiltLiral, and Environmenlal Risk I rajectorie5 (OBCT). The project ivill advance the ciirrent understanding of obesity risks and predictors arid Ihe role of 50CiO- econoinic status across the life coiirse. It ivill also determine the importance of specific obesity-i'elated bel)avioiirs lo prevent obesity at k.ey lif¢ slages, characlerise obesity-related cardio-Iiielabolic risk pi'ofiles Ivithin repre5¢nlative EU coiintrie5 and delermine Ilie polential iinpact of obesity-i'elated policies on ineqiiality. The goal is lo provide health professioi)als, policyiiiakers and the piiblic ivilh knosvledge, Inaps and tools to support effective and sustainable prevenlion of obesity, particularly ivithin people and coininunities iviih a loiy socio-economic slaliis. The project started in Noveinber 2023 and is expected to be coii)pleled in 2028. The key deliverable foi. 2024 Il'as tl)e preparation aiid distribution of the Dissemiiialion, Exploilation and Coinii?Iiiiicalion Strategy, Operational Plan and Slaiidard Practices (DEC Plan) Tlii5 plan ivas delivered iii full and 01) liine. The coiniiiiinications department is J'esponsible for lh¢ social Inedia updales aiid Jieii'sleller di51ributioI). World Obesity Day The goal of the 2024 campaign ivas lo leverage the poiver of World Obesity Day to Start cros5-¢111ling conversations, by lalking aboiil 'Obesiiy and We focused on tliree pillars of health, youth and our ivorld to address obesity together. Tliis ignited coi)versations around hujidreds of related topics- diabetes and cardiovasciilar disease, iyoineii ai)d cliildren, healili systenis aiid food sysleins. lo Jiame a feiv - and cominiinilies rallied all over the ivorld. Key highliglits included Ihe first year of 'Walk for WOD, and monunient and biiilding illuininalions around ille ivorld. WORLD OBESITY FEDERATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 events led by WHO and UNICEF" publication of the neiv Lancet-WHO data on obesity. The campaign ivas a huge success iviih a press reach of 6.2 billion and 199 countries vi51ting our World Obesity Day ivebsite. Convening obesity stakeholders globally This World Obesity Day on 4 March, the Global Obesity Coalition hosted a global youth-led ivebinar to unlock conversations arouiid holy obesity affects the lives of young peopl¢ around the iyorld and Ili¢ conci'ete chang¢ they are both leading and deinanding. Our event brought together alinost 300 participants and included youth voices froin Barbados, Souih Africa, Jordan, Philippines, USA, UK and Brazil. The Inlernalional Congresson Obesity is World Obesity's flagsliip congress, held every 2 years. This year Ihe event look place in sao Paulo, Brazil froin 26-29 June. Partnering Iviil) our Ineinbers, The Brazilian Associalion for the StLidy of Obesity and Metabolic Syndroiiie (ABESO), Il)e gatlleriiig in sao Paulo brought together over 3,000 attendees (online and in-person) froiii all around the Ivorld. World Obesity representatives attended and participated in a nui)Iber of events ivilh Ineiiibers and obesity slakeliold¢r5 at the 79th United Nations General Asseiiibly (UNGA 79) held in Neiv York Iliis Sepiciiiber. We liighlighied the urgency of iaking colleclive aclion lo slein the lide of rising NCDS as lye counl doivn lo tlie Fourili Higli-level Meeling of the United Nations General Asseinbly 011 the Prevenlion arid Conti'ol of NCDS and Meiilal Healil) in 2025. The Global Obesity Coalition co-hosted a side event oil acceleraliiig the response lo the obesily epideimic diiring ivhich Ihe Vice-minisler of Health for Kazakhstan einpliasised lioiy tlie SDGS ivill be aliiiosl iinpossible to achieve if obesity is not addressed. The event broiighi logeilier WHO, WOF and UNICEF senior leadership, lived experience, and innovative policies discussion froin the US, Brazil, Kazaklislan, Uruguay, Nigeria, and NCD advocales froiii around the globe. Clliiical EdueAtlon (SCOPE) 9,867 neiv iiser a¢¢oiinls ivere created in 2024, of ivhi¢h 7,953 logged in at leasl once. (Nole: accounts are created for all attendees of SCOPE Accredited courses, of Ivliich a portion iyill iiot subsequently engag¢.) A total of 508 health professionals becaine SCOPE Certified in 2024. highlighting Ihe groiying global recognition of SCOPE Certification as the gold slandard for healthcare professionals. Thi5 year, our .%C'()IIF. stood out as a highlight, bringing together heallhcai'e professionals, reseai'chers, and advoci or lo cease operdtions, or have no realistic alternative but to do so. Oui. J'espoiisibilttie5 for tlie audit ol the finAiieihl statements Our objectives are to obtain reasonable assuraiice about ivlietlier Ihe financial statetiienls as a ivhole are free fi'oi Inatei'ial niisslaleinenl, Ivheiher diie lo fraud or error. and to issue a Report of Ihe Jndependenl Aiiditors Ihal incliides our opinioii. Reasonable assiirance is a high level of a5siirance but is iiol a guarantee tlial ali aiidil conducted in accordaiice ivith ISAS (UK) iyill nlivays delecl a iiialerial Jnisslatei)ieiil ivlieii il exis15. Misstateiiienls can ai'ise froin fi'aiid or error and are considered material if, individiially or iii the aggregate. Ihey coiild reasonably be expected lo infliience tlie ecoi)oinic decisions of users takeii oil Ilie basis of these financial statements. The exlenl to ivhich our procedures are capabl¢ of d¢l¢cling irregularities, including fraiid is detailed beloiv,. Identify and assess tlie risk of 171alerial Inisst8t¢inenl of th¢ financial slalements, Ivhether dLie to fi?Iid or error, design and perforiii audit procedures responsive to Ihose rtsks, and obtain audit evidence that is sufficient and appi'opriate to provide a basis for oiir opinion. The risk of not detecting a material i))isstatement resuliiilg fi'oiii fraiid is l)iglier Ihaii for one resulting froin error, as fraiid Inay iiivolve colliision, forgery, interktioi)al iiiissions. Jnisrepreseiilalions or the override of inlemal conlrol. 14 WORLD OBESITY FEDERATION AUDITOR REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Obtain an understanding of inlemal conlrol relevant lo the audil in order lo design audti procedures that are appropriate in the circuinstances, but not for tlie piirposes ofexpressing an opinion on the effectiveness of the conipany's internal control. Evaliiate Ilie appropriateness of accoiinting policies used and the rea50nableness of accounting estiinates and tlie related disclosiires inade by ihe directors, Concliide on Ilie approprialeness of Ihe dire¢lors' use of the going coiicern basis of accounting and, based on the audit evidence obtained, iylieiher a material iinc¢rlainty exists related to ev¢nt or condition5 that iiiay cast significant doubt on Ilie coinpany's ability lo continue as a going concern. If ive concliide that a material Iincertainty exists, Ive are required to draiv atteiitioii in our aiidilor's report lo the related disclosur¢ in the rinuncial 51al¢nien15 or, if such disclosiires are inadequate lo inodify oiir opinion. Our conclusions are based on the aiidil evidence obtained up to the dale of our auditorfs report. Hoiyever, fuiure events or conditions iT)ay alis¢ th¢ ¢ompany to cease to continue as a goii)g concern. Evaluate the overall pi'¢senlalion, slrii¢tiire and conlenl of Ihe financial slateiiients, including the disclosiii'es, and %vlieiher Ilie financial slaleiiienls represenl Ihe underlying Iransactions and events in a nianner that achieves fair presentation. A further dcscriplion of oiir responsibilities for the aiidil of the financial stateineiils is located on the Finai)cial Reporting Council's iyebsile al iviviv.frc.org.uklaiidilorsresponsibililies. This d¢s¢riplion forins part of oiir Report of the Independent Auditors. Use of our i'eport This report is Ingde solely to the ¢harilable conipany's meinbers, as a body, in accordance ivith Chapiei. 3 of Part16 of the Coii)panies Aci 2006. Oiir aiidil iyork has been underlaken so Ihat ive Inighl slate to tlie cliai'ilable coinpany's Ineiiibers Ihose inalters ive are reqiiired to stale to Ihein in an aiidilors, reporl and foi. 110 olher PLirpose. To the fullesl exlenl periiiilled by laiv, lye do not accept or assume responsibility to anyone other 11)ai) tlie charitable coinpan)i and the cliarilable coinpany's meiiibers as a body* for oiir audil ivork, for tliis report, oi. for the opiiiions ive have fornied. H M Day (Senior Sialiilory Auditor) for and on behalf of Xeinadin Audit Lirniled Cliartei'ed Accoiintaiils and Siatulory Auditors Niglilingale House 46-48 East St. KT17 IHQ 15 WORLD OBESITY FEDERATION STATEMENT OF FINANCIAL ACTIVITIES CHARITY (IneorporAtliig Ineome and Expenditui'e accouiit) FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted UNre$lricted 2024 Total F￿ndS 2023 Total Fuiids Funds Funds INCOINIING RESOURCES Inco*ilMg resources fyom generfited funds: Voliiiilary, liiconie DonAtion5 and lega¢i¢s Activities for Renerating fundj; Congress aiid Lvents Ro}paliics ¢?Iid oihcr inconie Investment ineonie Inv¢slii)enl ii)conie 205.039 205,039 68,458 748.191 271.684 748,191 271.684 271,607 6.899 6,899 liiefjniliig r¢$oiir¢e$ fi'om ChAriloble Activities: Policy Educ1¢ lion Re5e&rcli Meimbership 13,000 13.000 702,803 90.292 50,379 53.135 235,222 292,026 27.581 702,803 60,917 50,379 29,375 Total in¢oniing I'esources 42.375 2.045.912 2.088,287 948,030 RESOURCES EXPENDED Cos1$ of generfttliig fuiid$ VoliinlAry' income 364.978 364,978 346,471 364,978 364,978 346,471 CIIAI'llnble ncllvltlos: Poli¢), Men)bersliip S¢rYiees Educftlion 11.646 226.827 78,946 1.109,807 238,473 78,946 ,109,807 113,421 40,898 339.574 draftResear¢h 29.532 142.501 172.033 369,838 TolAI cliAritable expeiiilltiir¢ 41.178 1,558,081 1,599.259 863,731 Tolnl resources expeiided 41.178 1,923,059 1,964,237 1.210,202 Nel INeoniSn£ resour¢es before transfers 1,197 122.853 124,050 (262,1721 betw'een funds '1'rn115fers betm'cen luiids 12 (1,197) 1,197 N¢t IMoveEnei)t in funds 124,050 124.050 (262.172) Fiinds al l Jnnuary 12 861,394 861.394 ,123,566 Funds nt JI Deceniber 12 985,444 985.444 861,394 All of Il)e above resiills are derived froin continiiing activities. There ivere iio oil)er recognised gaiiis or losses otl)er tl)an Iliose slated above. Moveinents in fLinds ar¢ disclosed in note 12 to the financial sÉateii)ents. The notes oil pages 19 10 26 forni pai'l of these financial siateineiils. 16 WORLD OBESITY FEDERATION BALANCESHEET AS AT 31 DECEMBER 2024 2024 2023 Notes CURRENT ASSETS Debtors Cash at bank and in liand 570,127 1,747.037 646.591 757,210 2,317,164 1,403,801 CREDITORS: ainoiinls falling diie Ivithin one year 10 (1,331,720) (542,407) NET CURRENT ASSETS 985,444 861,394 NET ASSETS 985.444 861,394 FUNDS Reslricled funds Unrestricted flinds - general fiind 12 12 985,444 861,394 985,444 861,394 Tlie finaiicial statenients ivere Approved and Aiilhorised for issue by the Board of tlie Trustees on 41h June 2025 and ivei'e signed beloiv by: Triistee Pi'ofessor Jason Halford Tnisl¢e Dr Simon Barquera The iiotes on pages 19 to 26 fonn part of these financial slatemeiits. 17 WORLD OBESITY FEDERATION Company Number: 03802726 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash floivs fi'oin operating activitie5 982,928 {502,039) Piirchase of tangible fjxed assets nt¢rest received (1,114) 6,899 Change in cash aiid cash eqliivalents in Ihe i'eporting period 989,827 (503,152) Cash and casli eqiiivalents at ihe beginiiing of the repoiting period 757,210 1,260,362 Cash and cash equivalents al Ihe end of the reporting period 1747 037 757210 Net ii)coinelexpenditure for Ihe reporting period (as per the slaleineilt or rinancial activities) 124,050 (262,172) Adjiisliiients for.. Depreoialion charges 8,627 Interest received (6.899) Decrease/(increase) in debtors (Decrease)lin¢reas¢ in creditQFS 76,464 789,313 (295,198) 46,703 982 928 502 039 18 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Ba515 of aecounting The financial slaleinen15 of the charitable company, Ivhich is a piiblic benefit enlily linder FRS 102, 1)ave been prepared in accordance ivith the Charities SORP (FRS 102) 2019 'Accounling and Reporting by Charities; Stat¢in¢nt of Recoiiiinended Practice applicable to charities preparing their accounts in accordance iviih the Fiiiancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janiiary 2019),, Financial Repoi'ling Slandard102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Coinpanies Act 2006. The financial slaleinenls have been prepared under the historical cost convention. Tlie reporting ciirrency for the financial slaleinenls 15 GBP. b) Incorne i'esourees Donalioiis aiid grants Incoiiie froi?) donations aT)d grants are included in in¢oining resources ivhen these are receivable except as folloivs: Wheii donors specify Ihal donations and 8ranls given to the charity inust be used in fiittire a¢coiinling periods, the incoine is deferred until Ihose periods. WheIi donors iinpose conditions ivhich have to be fulfilled before the charity becomes entilled lo use siich incoine, the incoiiie is deferred and not included in incoining resources iintil the pr¢-coiidilions for iise have been mel, When donors specify that donatioiis and grants are for particular reslricled purposes, Ivliich do not ainount to pi'e- Condilions regarding enliileineiil, this incoine is included in incoming resources of reslricled funds iylien I'eceivable. Meni bershlp dues, hdi'erli5ing aiid publishing royaltles Incoiiie froni inei)Ib¢rsliip diies, advertising and publishing royalties are included in Ihe SOFA ivhen th¢ rharity IS legally entitled lo the income and tlie aiiiount can be quantified ivith reasonable accuracy. liivestiiieiil incoine Investment incoime, inclLiding interesl receivable, is included ivhen receivable by the charity. Project Iiiconie Incoine froin projects is recogiiised on an accruals basis a5 the ivork on that projecl progresses. Resoiirees expeiided Resoui-ces expended are included in ihe SOFA on an accrual's basis. Certain expendiliire is directly allribiitable to specFfic activities aiid has been included in Iliose cosl categories. Sliaied and indirect costs are apportioned on 11)e basis of staff linie and 11)e number of fiill-liine ¢qiiivalenl staff. Costs iyliich are atlribiilable lo Inore 11)an one activity, are apportioned acros5 cosl categoi'ies on Ilie basis of an estiinal¢ of ihe proportion of lime speiit by staff on Iliose activities. Fiindraisiiig costs are tl)ose costs ii)curred in seeking voluntary conlribiilion5 and piiblicity cosls associated ivith raising ihe profile of the cliarity. Govei'nance costs are those incurred in connection iyith enabling ihe Company io comply iyilli external regLilation, conslillilion and slatiitory requireinents and in providing support to the truslees in tlie discharge of their statiitory diities. 19 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (eonllnued) d) TaDgible fixed assets All assets purchased for over £2,000 ivill be capitalised. Depreciation is provided on all tangible fixed assels at l'ates calculated to iyrite off the cost of each assei over ils expecied usefiil economic life at Ihe folloiving rates: Fixtures, fittings and eqiiipinent CoinpLlter equipiiient Investiiieiits Investinenls are slated at Jnarket value at the balance sheet date. The SOFA includes the net gains and losses arising oli revaluatioiis and disposals Iliroughout il)e year. Pensions The charity operates a defined contribution schejne for the benefit of ils employees. The costs of conlribiitions are Charged lo the incoine and expenditiire accoiinl in the year they are payable. g) FlnAnee find operAtlng leAses Rentals payabl¢ Linder op¢raling leases are Charges to the SOFA as incurred over the lerin ofthe lease. h) Foi'eign curreiicies Transactions in foi'eign currencies are recorded at ihe Tate ruling at ihe date of the tran5aclion. Monetary assets and liabilities are retranslated al Ihe rate of e,xchaiige ruling ai ihe balance sheei date. All diffei'eiices are taken to the SOFA. Fuiid A¢couii¢lng General flinds are unreslricied funds ivhi¢h ar¢ available for use al Ihe discretion of the Trustees in furihei'ance of the geiieral objectives of the coinpany aiid ivhi¢h have not been designated for olher piirposes. Designated fiinds comprise unrestricted fiinds thal have been sel aside by the Trnslees for porliciilar piirposes. The aim and Lise of eacli designated fund is sei oiil in the noies to the financial siaieiiienls. Restricted fiinds are funds iyhich are lo be used in accordance iyith specific restriclioi)s iiiiposed by donors iyliich have been i'aised by the company for particular purposes. The cost of raising aiid adniinistering sucli fiii)ds are charged against the specific fvnd. The aim and use of each restricted ￿nd is set out in ihe notes lo tlie financial 51aleiiienls. i) Ci'illcNI Accouiitiiig JudRenient5 an(1 Key Sources of Es1iNDation Uncerlaiiil). In Ilie applicatioii of tlie Cliarity's accoiinling policie5 Ivhi¢h are described abov¢, In15t¢¢s are reouired to Inake jiidgeiiients, esliiiiates and assuiiiptions abolit tlie carrying values of assels and liabilities ihat al'c not refidily appai'ent froiii otlier sources. The estiinales and uiiderlying assuiiiptioiis are based oil liislorical experieiice and other factors that are considered to be relevant. Actual results may differ froin these estiii)ates. The estiniates and Einderlying asSUlllPtAon5 arc revieiyed on an ongoing basis. Revisions to accounliiig esliiiiales are i-ecognised in Ilie period in Ivhich the estimate is revised if the revision affects only tlial period, or in ilie period of revisioii and fuliire periods if the revision affects both ciirrent and future perTods. Tlie key soiirces of esliination uncerlainty tlial h8ve a Signifi￿nt ¢ffwt on tlie amoiinls recognised in the finaiicial stat¢inents are de5crib¢d b¢loiv- Deprecialioii Assels are ivritten doiyn over tlieir esliinated useful lives. The a¢lual lives of th¢ ass¢15 Inay differ froln those estiinates. Tlie lives of the assets are kept under revieiv and adjusted as appropriate, 20 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 li) Coing Concei'ii: The trustees have assessed the charity'5 ability to continue as a going concem. The triistees have considered Ihe chartty's financial position, including its reserves, cash floiv and fiillire flinding Col￿nItInents. Based on this assessinent, the Iriistees have a reasonable experlation that the charity has ad¢qual¢ resources to conliniie in operational existence foi. Ilie forese¢cible future. Thus. the Injstees continue lo adopt the going concern basis of accounting in pr¢paTing the financial stal¢inent. rinaiicial 111stJ'unieiits; The cliarity's financial inslriiiiienls coinprise cash, trade debiors, trade crediiors and loans. These are classified as Basic finaiicial inslruiiicnts under FRS 102 i) Iiiltlal Reeogiiltioii ajid Measureiiient Basic financial inslruilieiits are inilially recogni5ed as transaction price. iiicluding trnnsaclions costs. except for Those classified at fair valiie through profit or loss. Ivhich arc initially iiieasurcd ai fair value. Tl)e fJnai)cial inslriiinents are sub5eqLienlly measured al ainortised cosl. k) liiipaii'meiit At the end of each reportiiig period. the charity assesses iyliether ihere is objective evidence of inipairinent. If siich evidence e.¥isls, the charity recognizes an iinpairinent loss in the statenienl of financial activities, VOLUNTARY INCOME Restrlcled Funds Uiiresli'lcted Tolal fujiqls Fuiids 2024 Total fuiids 2023 Donations 205,039 205,039 68,458 205,039 205,039 £68,458 ACTIVITIES FOR GENERATING FUNDS Re51ricled Fuiids Unreslricled Total fvJiiJs Funds 2024 Tolal fiinds 2023 Congress and Events PtiblishiT)g I'oyallies Otller incoine 748,191 213.634 58,050 748,191 213,634 58,050 172,730 98,877 ,019,875 1,019,875 £271,607 21 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TOTAL RESOURCES EXPENDED Staff Costs Direct Costs Support Costs Total Costs 2024 Total Costs 2023 Meinbership Policy Educalion Research Voluntary income 42,501 128.731 165,823 104,860 216,442 662 45,332 808,009 34.969 59,078 35,783 64,410 135,975 32,205 89,458 78.946 238,473 1,109,807 172,033 364,978 40,898 113,421 339,574 369.838 346,471 £658,357 £948,050 £357,831 £1,964,237 £1,210,202 SUPPORT COSTS COMPRISE OF: GovernAnee Costs Staff Costs Other Cost5 TotAI Costs 2024 Total Costs 2023 Membersliip Policy Education Research Volunlary Income 9,419 16,953 35.789 8,477 23,546 16,298 29.337 61,933 14,668 40,746 10,066 18.120 38,253 9.060 25,166 35,783 64,410 135,975 32,205 89,458 4,501 2,25 I 12,437 19,072 6,752 £94,184 £162,982 £100.665 £357,831 £45,013 NET INCOMING RESOURCES FOR THE YEAR 2024 2023 Tliis is stated fifter cliarging: Depreciatioii Aiidilors, reiniineration Operating lease rentals - Land and buildings 8,627 6,000 12,600 7,000 12,608 Diiring ihe year, no I'ruslees received aiiy benefils in kind (2023 - £Nil). DLiring tlie yeai., 5 Trustees received reiiiibiirseiiienl of £7,860 expense5 for travel aiid accoiniiiodation (2023 £4,072). 22 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS 2024 2023 Staff eosts wei'e as follows: Wages and salaries SocTral security Costs Pension costs 711,842 52,282 57,215 842,444 64,358 52,670 £821,339 £959,472 The key Inaiiageinenl personnel iemiineralion and benefits are £355,410 ( £dOI,870) Tlie niiiiiber of einployees ivhose emoliiments fell Ivithiii the folloiyiiig bands ivas". 2024 2023 £ 60.000 - £ 70,000 £150,000- £160,000 Tl)e average iiiimber of employees Ivas as follows: 2024 Nunlber 2023 Nunibej. Charity objectives and pi'ojecls trading activity Fundi'aising and publicity Manageinent and adininislralion 12 14 TAXATION Tl)e Charitable coiiipany is exeinpi froin corporation tax as all ils incoii)e is cliaTitable and is applied for charitable piii'poses. TANGIBLE FIXED ASSETS Office And Computei's Cost At l Jaiiuary 2024 Additions DisP05al 26,402 {26,402) At 31 Decenibei. 2024 Depreclatloii At l January 2024 Chai'ge for Ilie year Disposal 26,402 (26,402) At 31 December 2024 Net Book Value At 31 Deceinber 2024 At 31 Deceniber 2023 23 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECCMBER 2024 DEBTORS 2024 2023 Due witliln oiie yenr Trade debtors Prepayimenls and accrued incoine Other debtors 310,153 253,862 6,112 45,000 414,244 187,347 £570,127 £646,591 CREDITORS: Amounts falliiig due io. ithin oiie year 2024 2023 Trade creditors Social seciirity and other tsxes 011)er ci'edilors Accruals and deferred inconie (see beloiv) 9,351 17,108 12,144 ,293,117 17,578 14.218 9,849 500.762 £1,331,720 £542,407 Pension conlribiilions lolalling £6,124 (2023: £5,005) Ivere payable at the year end and are incliided iYill)in other ci'editors. ii. DEFERRED INCOME 2024 2023 Ainoiinls bi'oiight forward Released in Ihe year Deferi'ed diiring the year 484,188 (886.614) 1.664,697 290,620 (258.620) 452,188 Balance as al 31 December 2024 £1.262,271 £484,188 Charity deferred incoine of £1,262,271 relaled to incoine received in 2024, 2023 aiid 2022 in advanee of projects and fLittire confereiiceg. (2023 £484,188) 24 WORLD OBESITY FEDERATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. STATEMENT OF FUNDS Resti'icted Funds Euprojgcls.. ljiiiovole This pai'l of the restricted fiinds is received from tlie EU Commission and UK Government for carrying out research related EU projects. Throiigh collecting obesit), related inforiiiation and analysis, tlie projects assist tlie policy Inakers Ihroiighoiit Eiirope to implement appyopriate obesity Strategies. EU norjnally oiily pi'ovides paitial fiinding for Ilie projects iherefore the remaiiiing balances are covered by the World Obesity Federation's general funds. SUMMARY OF FUNDS Brought Forivnrd Ineoniliig Resources Re50uI'ces Expeiided TrRJisfei iiil{out) Ca I'i'led ForwArd Uiirestricted Funds 861,394 2.045,912 (1,923,059) 1,197 985,444 Resli'icted Fuiids 42.375 (41,178) (1,197) Tolal of Fiinds £861,394 £2,088,287 Ul,964,237) £985,444 13. OPERATING LEASE COMMITMENTS The folloiving payiiienls are Coiiimitted 10 be paid iyiihin one year.. Land and buildings 2024 2023 Expiring: Within one year 7,315 6,048 £7,315 £6,048 Operating lease cost5 are recognised as an ¢xpens¢ in ihe year they are inCU￿ed. 2024 iyas £12,608 (2023 £12,600) 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Reslricted Uiireslrlcte Total Vund$ FuJid5 Fuiid5 Ciiri'¢nt assets Curreni liabililies 2.317,164 2.317.164 {1,331,720) (1,331,720) 15. RELATED PARTY TRANSACTIONS Tliere ivere no relaled party transactions in tlie current or previoiis year 25 WORLD OBESITY FEDERATION NOTES TO THE fiNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Coniparative for the SOFA 2023 Totlll Funds Reslrieted Fuiids Unrestricted Funds INCOMING RESOURCES Noles liieoiii iiig resources froni generated fuiids: l/oliiiilurJi iiicoine Donations and legacies Activities for geiieratiiig funds: Royilties other iiicome li)v¢sliiient Iiiconie nveslii)enl incotne 68.458 68,458 271,607 271,607 Iiiconiliig resources froni Chai'itnble Activities: Policy Ediicalioii Researcli Memb¢rship 53,135 235,222 53,135 235,222 292,026 27,581 292.026 27.581 Total iiicoJM Ing resourees 292,026 656,004 948,030 RESOURCES EXPENDED Costs of geiierAtiFig fuiids Voluntary iricoin¢ 346,471 346,471 346,471 346,471 Cliaritable activitles: Policy M¢i?Ibei'sliip Services Ediicalion Research 113,421 40,898 336,958 110.299 113,421 40,898 339,574 369,838 2,616 259,539 Tolfil cliAI'itAble expeilditure 262,155 601,576 863,731 Total i'esour¢e5 expen(led 262,155 948,047 1.210.202 Nel iiiconi Ing Yesoui'ces befoi'e traiisfers between fuiids 29,871 (292,043) (262,172) Ti?nsfei's betiyeen funds (29,871) 29,871 Net iiioveineiit In funds (262,172) (262,172) Fiinds al l JanLiary ,123,566 1,123,566 at 31 December 861,394 861,394 26