Company Registered Nurnber. 3933410 Charity Registered Number. 1081384 CHAIN OF HOPE TRUSTEES. REPORT AND FINANCIAL STATEM&Yrs FOR THE YLIR ENDINC 31sr MARCH 2025 CHAIN OF HOPE TABLE OF coAYfEiYrs CHAVI OF HOPE TRUSTEES REPORT _-----.-...--.....-.-.---.---...~------.....-..--.-....I- IS TRIISTEEsRFSPONSIBILTflts............................................. ................................ 16 INDEPLYDENT AVDITOR'S REPORTTOTHETru5TEES OFcH￿N OFHopE...............-..--.- 17- 20 SrATEMKNTOF FLyANC￿LAc￿yrnES ..--.-.----------.-.....-..---..-..-....-.-..2J BALANCE SHEET_--.....-.----..------_---.-.------.-.------~.~-.-.-.~22 STATE&fENT OFCASll FLOWS.--._-.-------..-..--.------..-..--._._..........___..23 NOTESTO THE Fr¥AN1cL￿ StATEMEI)TS_ ..24-36 CHALY OF HOPE CHALY OF HOPE TRUSTEES REPORT FOR THE YEAR ENDING 31st MARCH Z025 The TrLtstees aff pleased to pracnt ilKir rqM)rL together with the finan¢iat #al￿ne￿I& for the year ending 31 Ma￿h 2025. The financial stat¢ments wmply ivith curre(kt statutory requirements including the special provision5 relaling to c(>mpanies Subject to the small companies regime ivithin w 15 of thc Companies Act 2006, the Memorandum and Articlcs of Association and the Ststement of Recommended Pr&tic¢ - Accounting and Rewrting by Charities (FRS 102). LEGAL AtYD ADMINISTRATIVE SUMTrIARY N2tllre of governittg instrnmemt Chain of Hope is a Company Limited by GuarantK Regtstr*ion Number 3933420 and a Registered Charity. Number 1081384. The Ch&ity w&8 cstablished &s a Tnjst in 1996 and iv&s thcn incoryoratcd as a Company Limited by Guardnlee in Febnmry 2000. It is govcmcd by its Memorandum Articks of A&w¢iation. President Professor Sir Magdi Yacoub OM FRS Honorary Vice Presidents PrinEc55 E5[nc￿lda ofBcEguitn Countess Nocrni M2rone CinzaTh) Mr5 Sh¢ri[￿ SawtTiS Mrs DinaN&ssif Trnstees attd Direttors Dr Gavin Wright- Chairnwi Professor Victor Tsang- Chair Mr Jason Edel Professor Vibeke Hjortdaj Dr Alan Magee Ms Maura O:Callagl]an Ms Julie Plumridge (apix)Ttrtcd May 2tsd 2025) Dr Kuberdn Pthparajsh (apwitrtcd May 2ma 2025) Mr Marc WaldaFtAyiYe (Treasurer) Professor Sir Magdi Yacoub OM FRS The t￿￿ and the pr&ncipal otTicers are SW)￿rt¢d by of sub LxKnmittee$ and grou￿ details of which can found on the charity"s wdjsite. SafeguardiTrg Group Mrs Mo O"'Rcilly- Rctircd ￿la] worker and Hedd of Plawn¢nts at Barnwkn"5 al￿ the British Association l(pr Adoption and Fostering (BIL4F) Ms Maura O:Callaghan- Cardiac nurse a[￿ Lead safe8￿1n8 TTu#ee Ms Emma Scanlan- CEO Ms Jillianc Lewis- ove￿ (Imtions M8wer Ms Lisa Y￿0￿b-Rwallda and Follow up co ordinalof Risk Committee Jason Edel: Lawyer and TTU5tee (Cbair) Dr Vibeke HortdjaJ- Cardiac Surgeon Maura O"Callaghan- Cardtac Nurse Julic Plumridgc- Patient Safety: Great Orniojxl Street Hospitsl Emma SCa[da￿ CEO: Chain ofHope Marc Walden.￿We. T￿sUrer. Chain of Ho CHAIN OF HOPE CHAIN OF HOPE TRUSTEES REPORT (COIYTIIYUED) FOR THE YEAR EYDING 31st MARCH 2025 Expenditure com￿lttee. ma￿ Wat(ktkLoivr: (Chair) TnLStce and Trt8urer. Chain of Ho Emma SCan1a￿ CEO. Chain of Hope Prof Victor Tsa￿ Head of Cardiac Surgery. GTht Orn]ond Street Hospitst ror Children Dr Gavin Wright, Chair of Trustee& Chain of HotK MissiTrn Conimitte¢ Maura O:Callaghan (Chair) SafCg￿dln8 Tn￿c¢ Rachael Morrison: Advanccd Cardiac Ptactitioncr. Birniingkn Children's Hospital Julie PlumrÈdgc- Paticnt Safcty officc, Gr￿ OrtDond Street H05Pital for Children Dr Intikhab Zafuratlah. Paediatric InlensivisL Btrmingham Children's Hospitsl Retrieval Panel Dr Intikhab Zafjjrallah (Chatr) Pacdiatric I￿a￿1visI, Birniingkn Children's Hospital Mrs liachael Morrison. Advanced Cardiac Pr￿tIll(￿￿, Birminglwn ChildTen s Hospitsl Dr Edgar Brin0 P￿latriC Int¢nsivisL Glasgow University TeachTng Hospitsl Medit#l Committee Prof¢s50r Sir Shakecl Qureslll {Chair) Mr David And￿$0￿ {c￿Chair) Dr Geor£ia Brugada Ms c￿1n Van tknrn MBE Dr Rodney Frankiin DrAlan Magee Dr Kuberan P￿Ja￿ Professor VictorTs2ng Dr Gayin Wright (Chair of TrustCC5) Professor Sir Magdi Yacoub IPrutdent) cO￿rdInal0r. Ms Alexandra Savis Celebrity Amb*wdors Ms Alexandra Burke Mr Omid Diaiili Mr Chri5 Eulmnk Jnr Mr Rupert Everett Ms Kimbcrlcy G8rncr Mrs Fiona Hai7rthorne Ms Ulrika Johnson Ms Felicity Kendal Mr & Mrs Robert Pires l+Ar Colin Salmon Jonathan Samuels CHA￿ OF HOPE CHAIN OF HOPE TRusfEES REPORT (CONTtNUED) FOR THE YEAR EIII)ING 3151 MARCH 2025 LEGAL AfrfD ADMINISTRATIVE SUMMARY (COIYllNUED Chief Exe¢lltive o￿le¢￿- Miss Emma Scanlan Registered Offices The OtTice Group l Lyric Square Hammersmith W6 ONB Charity Bankers Lloyds Bank plc Kings iload Chelsea London SW3 Nationwide Nationwide Building Society Kin8s Pork Ro Moulion PaTk NN3 6NW Auditors Moore (Souih) LLP Suite 3. Second Floor. Friary CourL.13-21 High SL Guildford GUI 3DG 14al AdvisoAS Russell-CLK)ke LLP 2 Putncy Hill London SW15 6AB Seddons S Portman Sqwe tnndon WIH6Nr CHALY OF HOPE CHAIN OF HOPE TRUSTEES REPORT (coiYrtNUED) FOR THE YKIR EIYDif4G 31YI MARCH 21125 CHARITY 0￿EcTs a) The reli¢f of sAckn¢ss and to WC5cr¥e atNI pr(tht the I￿ahh of pwpl& in particular imtt not exclusively. children frotn abroa￿ and b) To fwther such other CAd￿1VC1Y charitable PUt￿)seS ￿cording to the law of Englat)d and Wales as the Trustees in their absolute di5￿cli0n from time to time deterniine. PUBLIC BENEFIT The trusttts confirni that thc targct IKncficiary group is withio Public Benefil as the strYice5 are ultirnately aimed at any Imtients wkn th) JM)t havc acLTh kn health￿ for fr¢¢ in IIK c¥Nmtri¢s they are bAse We have r¢f¢Tr¢d to ihe Ch￿lty Commission"s gentyal guidance on Public Benefit when rcvicwing our aims and objectiycs and in planning our ￿tUre aL*ivities. In particular. the board of I[￿$tec3 con5idcr how pla￿ed athivitie5 ivill a)ntributc to the aims arLd obiedives tEw IMv¢ seL MISSION sfATEMEIYT To develop sustsinable clinid aThl rc5carch cardiac centres treatment of thik4ren and young wplc with heart dise￿ in couttries ivheff kilitif5 for trcattnert5 are utTravailabk. While this prAmary objeetive is under%vay# Imlicnts in nccd from these and othtt countries may ￿ brought to thc UK or oll￿r centres apwo?￿d by Chain of such trcatmcttts. It is estimated that 15 million children die OT ar¢ crippled annually by p)lentially treatable or preventable cardiac diseases. Chain ol Hope aims to address the surgicat inequality of thesc cardtac children around the world. As part of this goal: Chain of Hope is assisting with the ¢stablishmert of ¢ardiar and facilttie5 in cou[￿leS they th) exi5L The charity has 4 main activities- l. To Colld￿ surgical aDd medical teAching missions that undertake dosed and op￿.heart surgery on hililren and offer a range olout-patient servi(£& l To provide leaching and training for cardiac a￿1 &5sociated healthca￿ workers within the countri&s whcrc Chain ofHope is helping to create sustainablc cardiac scrvices for chil(JreJL 3. To assist with the development of infrastruchuc by providing cquip]nellL advising ffl services gnd helping to build capacity. 4. To o￿aTrIse and s￿l￿A)r treatment for children tlwough the charity's IntemationaI Child Referral Programmc {ICRP). Immediate success is measured by the number of children w¢ rrach and help through progrJmme of missions. Intwnalionai Child Referrdl progrdmme activty and our s￿sta]nable slreams to enable local teams lo conduct surgcrics in a rep)rting periiML Long ierni imp&t 15 mE&surcd by IM)w rnany c&w and of what COmpl￿lty th¢ "l(Kai' teams wlM)m wc suP￿rt ￿und the world ha¥¢ CHAIN OF IIOPE CHAtN OF HOPE TRUSTEES REPORT (CONllNUED) FOR THE YEAR ENDINC 3111 MARCH 21125 ACHIEVEMEiYfs AND PERFORMANCE Dwing the year our hard-lvorking staff and volunlccrs managed to fa¢ililat¢ a totaI of 393 complex cardiac procedures on patients with heart defects. Th¢ rnaiority of patients w¢r¢ treated durrng th¢ increased number or ovetseas tni55iOll5 thi5 year wbtch amounted to 21 missions. Some of these missio￿$ were p3rlner missions but the majority of them we recruited and mobilised specialist volunteer& to our partner hospitals and project centrcs. Furthcr patients were rvdched through OUT Sustainability prOgr￿e ivhere we coniimie to supwrt the dcyclopmcnt of cardiac centres by providing vital equiptllCDt and supplies to the local healihcare professionals in thc countrie4 to enable them to wy locajty autonom0￿1]y9 see tsble Ftlow. This lable includes a lotal of 16 proccdur&s trcating a totsl of 13 patio)ts through our cmcrgcncy transfer prngrarnm￿ the International Child R¢fETTal ￿ograMme. Procedures erfornied 303 15 10 Direct Missions Local Ethio ia Mission Local U anda Mission Aswan Heart Centre Sustainabili Intemational Child Referral Lebanon Sustainabili TOTAL 36 16 13 393 Achlle mettts inst ob'ective5 Set for the Jamaica W¢ 2im¢d to s¢nd three (3) volwnteer IDteTvetttiouxl catheter teams to support the treatmtst of twenty seven c￿¢5. We acttsally managed to SUCCCS5fidly rnobilise three (3) ¢athetv tiaining tcams during the fI[￿cIal ycar ivho managcd to ￿romI a total of 36 pro During thc5¢ thrcc cathder VolU￿cer rnissions a i(knl of16 children interventional proeethwcs to tr￿¢ their heart defects and a tolai of 20 diagno&ics wcrc conducted as n￿nIOrshiP for the I￿￿] cardiology team in Jamaica at the hospitsl childrcn ￿ that they can do pro¢edwa on their oivn for the futur W¢ aimed to send three {3) volunteer surgieal teaw to support tbe treatment of twenty-ODe (21) cases and one (l) large sorgical M￿S1O￿ We managed to successfully rnobilisc three (3) 5￿gi￿ mission& two (2) of which were small intensive Ca￿ trams sert to SI￿POrt the local paediatri¢ cardiac surgeon to do &8 pan of our goal to help create a loL71 a￿Onom0￿S pacdialric cardiac serYi¢¢. Overall the two surgical swjport mi5510￿$ colleLtively treat￿1 14 children in Jamaica in need of open-hcdrt ￿ and ikne full s￿￿1c8] Mission in FebTuary led by Professor Victor Tsang operated on 9 Children. The nutllb￿ of thc5e 5urgi(zt supw)rt missions less than planned due to lack of availability olspecialisl volunteers. CHAIN OF HOPE CHAIN OF HOPE TRUSTEES REPORT (COIYTINUED) FOR THE YEAR ENDING 315t MARCH 2025 Jamaica c As part of spending our restricted funds on equiiKIth wc purchased a total of £79.999 worth of cquipment. Wc cotnmitted Éo a grdnt of £63,799 before year etml io suppty a ￿rtable echo machine and transoesoph8geaJ probe. this is included in creditors ond stock at thc ycar end as it had not been dcsp&ched to Jamaci& nor for at the year end In &*iition wc purch￿ a sternal saw for open hcart surgcry to thc value of £16,1X)O. We aimed to support the m*n%gemeut with renumer%tion= Wc continued to SUp￿t the mw8ement of Chain of Hopc Jamaica al￿ the progrdmm¢ co￿rdInatOr"S renumerdtion 50 th* t￿Y w￿¢ able to continu¢ to co ordinate in coming training and treatmcnt missio￿$ &$ well &s eontinu¢ to sUpry￿ the d¢vclopment of a lo￿] paediatrlc cardiac scrvicc. In Ethio We #imed to provid¢ vitsl sDppfKs for the lo(al leam at the Etbiopia C*rdiat ce￿tre to treat tbirty (30) ease& We ￿vide consund)les f(￿ the l(Kal trt8kn¢nt of15 thildren. We aimtd to Send one (l) interventional f•lheter volMnt¢er mission team Éo assist the local te4m Jvith rrfteeo (15) ￿Ses. We managcd to scnd two L7theter mi&8i(x)s to the EthÉopi8n cardi￿ Ccntrc during this financial wiod treating 28 childrctj al￿ ath)Icsccnts. The mi&sioThs weff kd by Pwf¢sx)r Qurc5hi and Dr Jot Cla8u¢ from Royal Br￿￿pt￿ H05Pital. We aimed to send one (l) SUT8ical volwiteer mission team to ￿15t the local team with tell {10) We sadly dithl't rnaw lo conduct this surgtcai mission due ￿ ￿vernan￿ chall¢nges to register ow team with the relevant authorities We aimed to sopport the Cgrdiae C¢ntr¢ Ethiopia with £20,0(Kl of equipmetttr. As part of our ongoing pEans ￿ utilise restricted fuvK15 wc committed to a grant of £63.799 to supply txyrtablc ccTrK) machinc and a tranwhagd prth to thc Ethiopia Cardiac Centre which ts essential in the diagnosis and duTing operalive 1reaLmenL This wos paid thr shortly after the year end a￿1 is included in this yeaTS I￿Ounts. We aimed to seod ont {1) itttervtntional ¢*theter Yoluvteer missioo te*m to ￿51St the locgl with fifteen (15) cases We rnanagcd to conduct one (l) interventional ￿th¢ter mission which performed 22 procedure5. treating 18 rhildruL We aim to send one {1) surgical vollltrteer mfts8iOn team to wist the lo¢al team witb tell (IO) cases Sadly, w¢ didn't manage to send a surgical Mi￿10n during this fitwictal year due to Vol￿tteer However w¢ did Mar￿ to SUPM the local team i￿￿[cad with 10 cardiac devi￿ to the value of £&I)00 be able to treat 10 children kK￿ly. We committed to a 2lWIt of £63,799 to supply a portablc ccho machine and transOe￿phaged prok to thc Uganda Heart Institute. This was paid for sh(¥ty aftcr thc year etml and is included in thi5 yca15 accounts. CHAllY OF HOPE CHAIN OF HOPE TRUSTEES REPORT (coiYfiNUED) FOR TIIE YEAR ENDING 3151 MARCH 2025 Jordan Pro We aimed to conduct five (5) misstons to Jordan to sup]x)rt the treatment of the rcfvg¢es and children from war torn countsies ￿ iv¢ll ￿ local patients. We successfully mwed to beat our goal and conduct 6 Jnissions to Jonkn to treat childrcn frotn ivar tom counÉri&s well &8 local patients. A gTand kntal of 78 procedures were perfornied during Ihese missions including two childTen from Cthza whorn the dwity supp)rtaJ io evacuate for urgent trcatmcnt T)InzaDffta W¢ aimed to send onr (l) surgtcd volunteer rnission tfdm to assist the local team iviih ten (10) ca We successfully mobilised a mission to Tanzania in July 2024 led by Dr Carin Van Doorn MBE or Leeds University Te*hing Hospital. performed 12 pro¢edureson I l thildretL Bolivia We aitned lo paTther wilh Gift of Lile International (GOLI} to SUPEX)rt two (2) mi&8ions to Bolivia We successfully prbved with GOLI to perform 34 w￿lureS on childrcn ill Bolivi Dominican Re We aimed to P3rtner with Gift of Life Intemational (Crf)LD to $llp￿rt tsyo (2) missions to the Dominican Republic We managed to with GOLI to t￿rfOrM 70 proL-edwcs trcating 63 childraL Rwanda We aimed to continuc fi￿dIng the second year oftraining pla￿l￿rnts fi)r 10 Rwandan nu We funded the 10 Rwandan nur5C5 through Iheir year of training at the knvan Heart Centre in Egypt and their clinical training Is now complete. Wc aimed to fimd wfiLsion training placcmcnts forthree (3) ￿r￿sIt￿lists We began the training olthrcc (3) ￿r￿lo￿15ts thring the fuwicial year as afoundation in their trainin& ICRP We aimed to tr*n5fer 24 patieDts overseas for tr¢a¢meDt throllgh the ICRP: W¢ transf¢￿ed and treated a total of 13 1Mtients through th¢ ICRP programme. some of which wircd fi procedures r¢sulting in a lotal of16 procedures ovuall. One patieni had a lot of complications and a long stay tbis Ye￿ holding up capacity in our centre in Bar¢eloTNL This and limited capacity in othcr parttter Iwjitais slowd our ICRP ptogramme down this year. Many of the patierLts were ¢xlremely complex emergency cases who also required Medi￿ escorts and a lot of focus and attention from the tcam. Our oYet211 aim was to invest more fiulds on Mi55tons atKI SustainabÉlity to enable more children to bc treated by maximising our ber￿faCtor"S as ¢￿irl¢￿tIY possible. CHA￿ OF HOPE CHAIN OF HOPE TRUSTEFS REPORT (coiYri]¥UED) FOR THE YEAR ￿NDING 3151 MARCH 2025 ACHIEVEMEKfs AIYD PERFORMANCE C SustajDabi Asivan -_chain of Hope Provided cquipment and fill￿1ng for 36 Egyptian patients dwin8 this financial t£lMnon - W¢ provided funding Ibr￿Jgh a 2ront which suptM)rtcd the treath)ent of 13 patietkts for children in the region from LebaTh￿ Syri& Fundraisin To rdise over £1.6million at the Gala Ball This year we managed to successfvlly organise the Gala Ball onLT 3gain raising a total of £1.653 tnillion and thus reaching our targcL We engaged several new 'S￿￿50rS" for the Gala and the event Tan smooihy ivith eniertatnment from the Sugatth& Emile Sande and dancers fiK>m Strlctly Come Dancing who stole the show! Thc fccdback from this ev¢ning was very ￿SItIve continutng to build buildiJ)g blocks for the follffiving years. To raise over £915J50 outside of Ball We managed to raise £872263 outside of Gala Ball just falling slightly short of our larget. A laTgc COM￿)nC￿t of this w&8 major don0￿. thtrd wty and Trust iDu)m¢. To re5earclL dcyclop and tmplematt a th￿e year fu￿lIng growth plan for 2025.28 A fimdrai5ing plan was resedrched and pr£￿ted to th¢ Truste¢ board for implemeErtation in April 2025. The Communic8tions rnanagcr w&% promoted to the role of Fulldrnisillg and Communication5 with ihe t&8k of taking rvJponsibility for developing a bl￿er team to invest in both consolidati￿8 existing fundraising &5 well as developing new fjjndraising streams. A Fundr￿1ng strdtegy was PTesentcd to the Trustees and the result of this va5 itnplcrnented in the new budget for W25126. Three nthv statT rnemlxT5 have been recruited to implcn]aEt this strategy to help CO￿￿lId￿e our fiujdrrising datab￿ and grow our rcgular givers and ￿ndraising community as wcll Cmploying a new role in and evenl suptx)rt and a new n)le in Trust aThl ¢v¢nt fi￿draising. Crant Givi The chartty contributed in financiaI grdnts where thetE is a good way of achieving its obje¢tivcs by pmviding grant fut￿1n8 to organisations with PUTP)scs and airns stmilar to our oivn charity aims. Oflen this enables more childrcn to be helped. We utilise grant giving agrcctllents whtch incorporate stringent conditions on thc usc of funds or r￿UrceS and these agreements slipulate reporting requirements to cnsure that the 8rantee uses thc funds for th¢ correct charitabk purEX)ses. t￿ring the year 17 grants wcrc made by Chain OF Hope. FOUT gTanls ivere ￿￿1¢ lo Chain of Hope Jamaic £35.403 toivatth the salary orth¢ Fundraising Manager and adminislrator and contribution to &xtcrnal Finance support. Two grants were rnade to the Aswan Heart Ccntrc £147331 for the training of Riv8nd¥n nurses aTxI £196.784 for the treatment of 30 Egyptian ¢hildren. Thrtt grJnts were rnade to Gift of Life International for support to mi5SiOllS: two grant for the hvo mi5sion5 to thc Domintcan Republic £35.789 and one grant wls to SUPFM)rt the ts¥o Bolivia missioEL8 £35,532. One grant was made to Ethiopia for £46.160 for equipment to support a l<)cal ￿ls510[L One grdnt was made to Ugath for £7.700 for consumable cquipmenl to SUp￿rt a I￿al mission. Tiyo grants were m* to HamnK)ud Hospital to support surgical procedures £39.625 al £39.660. CHAIY OF IIOPE CHAIN OF HOPE TRUSTEES REPORT (CONtbYUED) FOR THE YEAR ENDING 31st MARCH 2025 Future Plaos Overseas O Jamaica erations Ob'ectives for the ear 202512026 We aim to send thrc¢ (3) volunteer surgical Sup[￿ intensive Care Unit teams to sllp￿rt the treatment of ts¥enty-one (21) r Wc aitn to s¢txl two (2) Volun￿ interventional (knieams to sw)p)rt the treathlent ofsixtcen (16) cases Wc aitn to re.establish a registered cardiac ICU nursing trainire pr08rn￿¢ We to faciltlate a traintng placement foronc (l) catheterizatÈon rn￿$ We airn to facililate a lrnining placement for on¢ (l) physiologist W¢ aim to continuc to SUPFK)rt management of Chain ofHope Jamaica $ r¢munernlion We aim to SLbPWrt the Jamaica Children s Heart Centre iytth cquipment to the value 01£14.￿0 Ethio We aim to Send (l) surgical volunteer mission tcam to assist the local team with tcn (10) ￿e3 Wc ain to send (2) interventional catheter Yoluntecr mission team to assist the local tcam with thirty{30) c& We aim to sur4)ort thc CardÉac Centre Eihiopia wlthcwi￿1ffl]l to tk valu¢ of £21.000 We airn to support the quipment and disp)sablc tKcds for the local t¢atn lo ￿nduct rheutnatic heart dise&se outr¢8ch clinic5 at thc Cardix Centre Ethi(yia and two (2) reDu)te satellite Clinics to tlke value of £12.000 We aim lo send one (l) Interven￿al cathetaTd ffleettngs and TnLStees d￿ld¢ and agree policy a￿j approve a framework for the eltarity's dclivery of activities. Day to day mawent is thlcgatcd ts) the Chtcf Executive oificer and the Senior MaT￿CMCnt Trttsfrcs aTC 5ubjcct to rfrapwintillellt every [￿r years and in Tecent years the Memorandum and Articles weT¢ amended so thai the ch￿lty no longer requir￿ an AGM to be held to protx)sc and at4N)int new trnstee& Nominationg are madc at tn]slcc mcctings and are cotL8idered Caff￿1]y. Trustcc wsiiion5 are eit1￿ adverti or nominations are made for the i¥)ord to vote UWL Extcmal Tccruitment is encourdged for SO￿ prnctice and to incrcasc thc existing network of the clTr3rity. Prior to th¢ yfdr etml nominations were for two nthy Trustees and wtre swbsequcntly ap￿inted after the year end TFLe two nominatio￿ wer¢ unanimowly voted and the kKJSiiions were offeTed to M5 Julie Plumridge and Dr Kuberan PushpardjalL Both had becn long 5crYing mcmbers of the charity on different coTnmittcc5 atyj offcr a ncw generational vi￿¥ of medical governance within thc world of cardiac care in cbildre M5 Julic Plumridgc joins the Ixwd after serving b)th as a voluntccr on ovu5fa5 missions and trdining but also in her capacity a8 a Risk Comtnittc¢ for thc past yrar. Julie Worked in patient safety at Great Orniond H05PLtal for Children and Ixings a great deal of govemance knowledge and expericncc arot]nd clinical govemance for cardiac surgery. Dr Pusbpardiah is a ConsuF¢ant Paediatric Cardiologist at Evclina Children". s hospitsl and as Ften a k¢y memlKr of the Medical Cornmittee for over 10 years Within the dwity. Hc lias a lot of cxperience in pali¢nt diagnosis and making clinical dcci5iOn5 well as ￿(￿ler￿e with (ther thartiies in ov¢rse&s surgical and cardiology mission& Persolluel Continuing to re￿ild our ¢8pacity P05t pandemic h&$ still t*en an issue, tIM)ugh ive ￿￿ now in a p)sition ither¢ Ive have pre pandemic levels ofpernian¢nt slaff again. As pgrt ofour retvaved fundrnising stratcgic approach we have recruii¢d dedicated team rncvnbcrs for cotttjnunications and events. (bnor care and databa￿ care as well & promoting ow CommtmicatiOll5 Matw to Ovcrall Fu[KI￿ing Manager so that hc can focus on the developnart of the depatltnelkL Wc ha￿ colltill￿l to recnll( tfdm manE£r5 lo be able to increase opffationai actLVLty and diversified skilb in the management team internal rmmotion4 strengtkning succe&sion Incr￿ed focus on volunte¢r reffliitment is und¢T%Yay to cn5UTC we can sÈreogEhen the numlxr of tsusted medical t¢all￿ ivho can itkdependently ￿nduct missions on behalf of the charity. We haye hvo new Jnis5ion Icads and the aim is to remiit two more to tske tkirt in missions for thc firtujr. io CIIAIN OF HOPE CHAIN OF HOPE TRusfEES REPORT FOR THE YEAR ENDING 31st MARCH 2025 P¢rsoDnel (comL) Pay scales arc worked out ￿cOrding to man8gement or thini5tralion levels within the organisation. with consideration giv¢n to wfortDance review and length olservica Performance reviews conducted annually. Ixrt Objectiv￿ are reviwved on an on-goÈng tosis thrwgh the year. The Chief Executive Offw's perfortnance and remuneration are reviewcd ar￿UallY by the Chaimian and Trcasurcr. Thes4 along with sLiff b¢nefJts are 7￿chMarked against charitablc orgdnisations of a similar size and (ximplcxity using a staNtsrd benchmarking tool within the charity scctor atHI rca50tthle adju5Lments are made where awropriatr. Risk Committee The Risk Conullittcc is a sub-collllnittee of the trustee board set up lo ass￿8 the charity's risk& the best ways of mitÉgating thern and monitoring p￿gresS on action tsken. It is comprised of our legal Trustee WI￿ acts Chair. our treasurer. th¢ CEO. and three oiher tnjstees, one surga>n and our safegu&ding Trnstee atmj a Trustce who works in patient safcty. The Risk Committee rtview and uplate p)lici¢s aTKi re(x)mmend them to the trustees for apwoval. Matttial risks are wnsidered on a Tolling basis by the Ix)ard. Tr Risk Conllnittee also monitOT5 I￿ntIal sUiOUS incidents and provides a regular reiyxt on tlkx to the board for their considerat ance Crollp Thc Finance Gmup. led by the Tredsurer and comrffised of the CEO and Financc Manager mtrt monthly to llK)nitor and review fmancial pro¢esses. proced￿ and policie& th¢ marwent accounts and the recording and usagc of rc5trictcd funds ￿CeIVed by the dwity. Financial risk issues raised we bTought to the Risk Committcc and then the TnLtr Boord as ne¢e55ary. Expenditure Committee A Dew extgnditure committee. chal￿d by the Tre&surer and i￿[￿J1ng th¢ chair and vice Chair of thc Tn5Stee bo&d w&fj Co￿$titUted during the year to suprM)rt management to Jnakc ad hoc decisions on higher vajuc expenditure. The committcc tnccts ￿ an al hcK basis to review aThl dcci(k uw)n protK)S8ls frlr ¢xpendiftre that ivere not Sp￿lf1¢011Y budgdcd for and exceed £5.000 but are less th&n £IOO.000. The Comrnittcc h&8 the authority lo tllakc decisions on behalf of the Board in these maiters ￿]d ivill [t￿rt its dccisions to the Fthrd on a quarterly basis. Where it deems r£ce&sary and prndEnL the committee ivill ts(xiate decisions to the Board of TnEstee& Addilionally. Committee may be de]¢gated ￿coUntablI1t), by the Board to investig￿e approve higher value ¢xpenditutc ivhcre the Board h&s establislwi ￿ndItionS and guardrails within which the committee wtll oFrate {for )￿lance approving spthd over £]W.0￿ which has I￿en by th¢ Ix)ard but which is condition21 on receipt of l¢gal thice or a) accLytsble quotationl Cala B211 Fllndraisiog Cowrnittet The Gata Ball CornTnitte¢ thaiTed during Ihis financia] by Sherine Sawiris. togethcr ivith Vice- Chairs Mts Dina Roushdi: Mr5 Maria Sukkar and Mrs Clwinc Hclmy. The Cottllnittee has 15 mctntKrs in total wlx) have given their timc to h¢lp raise the fi]ThJs needed for this rnuch celebrated ￿1val ￿ent. Committee rnernbers are responsible for obtaining the live and Silent awlion prizes needed for this eyent. Thcir hard wotk and connedion5 enable ihe chaJity to gather high end I￿¥￿ry itcms for the auctions. A total of £1.653 million iv&8 rntscd on thc nigbt itduding all pledges and s￿nsorShIp of the wsts of the Gat& The Gala was h¢ld once again at thc Natural Hi510ry Museum and w&$ a great Succ￿8 overnll and was 5wnsored by global ivealih rnanagement fllm. Azur￿ Royal Savoy Sharni El Shiekh and S(xna Bay along with other corporate and Individu￿ sp)I￿r& Thc cveninE included high profilc cntctfainment from Emile San(k and the Sugababes. li CHAIN OF HOPE CHAIN OF HOPE TRusfELS REPORT (coiYfiNUED) FOR THE YEAR ENDING 3151 MARCH 2025 Medic81 Committee Th¢ Medicyj Committee ivas S¢t up to suiyKt the charity s International Childrcn Referral PN>8r&mme (ICRP) which is the '8mi' of ihe L4wity that transfers emtrgency thildren for urgent treatment around the world. The committec 15 comprised of top cardiologists and su[gu￿5 from different hospilals including Great Orniond Street Hospitsi for Sick childre￿ Royal Bromplon and Harefield NHS TnL8( Evclina iA)nd(m Children 5 HospitsI. Leeds University T¢￿hIng Hospitsl and Hospitst Saint joa￿ Barcelon& Thc McdiL71 Comrnittee meets monthly to TCVICW files of Wients who are applying for mcdica] trcattncnt tl]rough CThain of Hope. Its remit is to thise the t￿￿tee$ on Medi￿ p)li¢y and oversee the smooth rnalica] management of the ebarity"s {ICRPI This Commili¢e was jointly cthaired during this fll12n¢iai pcri(Ml by Professor Sir Shakeel Qur￿1, Dr Alan Magcc and Dr Rodney Frankli iou Committee The Mission Committee w&$ created lo help support the staff with the vdting of volunteers as well and putting togcthcr the composttion of medÉcal Ica1115 for each and every mission or trailling visiL This group vlims to ensure the correct skill mix would be sent k) the right mi5sionltraining vi5jt. The remit of the MTssjon Committee alg) include5 JCVif4ving the medical volunteer awlication pr(Kw identifying aÈms and objectives ror mi&siollltrainin& and ￿l¢WIng the performance of the mcdical teams. Tr Committee is provÉdcd a debrief on each mi&8ion and ensuTes that all issiLs a￿1 incidents are rniscd and rqx)rted appropriately. and 5ub5cquertly escaIatcd * rAsk meetings rfncccw.. at TnL%tee leveL The Mission Committee is thaired by cardi￿ N￿￿e aThJ Safeguarding TnL5te¢ of Chain of Hop4 Maura O"'C8llaghan wilh other repres￿l￿1ve memtr*rs from Gre* Omiond Street H05Pttal fi)r Sick Children aT Binningham Thildren'$ Hosptiai. Retrieval Panel This pane] is Cknired by co￿$￿h8￿ Paediknic Cardia¢ Int¢nsivist from Birmingham ThildreTr's Hospital. Dr Intikhab Zafurallah who togthier ivith two other senior mevnlKrs on the panel advlses on th¢ rnanagement of patients before and during flight (K road tr￿￿er &8 well &s helping to adYi5e on suitabl¢ mediral and nut5ing escorts aceordingto thc Lwlexity of the palient's Conditio￿ Other memivs of thc pancl aEE from Birmingham Children's Hospital and Gl&sgow University Teaching Hospitst. Th¢s¢ ¢xpetienced cardix intensive carc rdrieval eXI￿S wrt the C[￿lty with ￿Visi￿g on all patients requiring medicaI assisiance during transfcr to one of the charity"s partner h¢Lspita]s well as Te¢TUiting higb levcl mcdical escorts with ￿ ￿kvant cxpcric￿c and traini1￿ to able to safcly transfer Lx)mplcx patient& Saf¢guardinE Group The Safeguarding Group discusses all saf¢guarthng issu¢s rairf preventativc me&wres required to protc benefi¢iarie% staff aThJ volvnteers and plans thc iTnplcmentatton of the Safeg￿lDg wlicy across ihe ¢harity"s activiti&% and with its partn Th¢ group is d￿l￿d by lead Safeg￿￿ng Truslcc Maura O'Ca]laghan and atended by Mo O'Reilly retlred social workcr and safeguarding advi￿¥. the CEO: the Ovetseas 0￿ratIO￿5 Manager) Follow up Manager well as our Safcguarding Tn]stee. This 8roup meets tegularly to di5CU&5 5afegwding issves and the continued impl¢mentation of thc safeg￿Illg training and r¢vi¢w. 12 CHALN OF HOPE CHAIN OF HOPE TRUSTEES REPORT (coiYfnYuED) FOR THE YEAR ENDING 3111 MARCH 2025 Host FamiIy Appr•val P*n Mo O"Reilly also chairs this indepe1￿Cntty recTUit¢d oftyofess1onalsl￿Vl5OrS which review the charity's applications from prospective carers volurtccring to care for a child and rel￿1ve during his or her Stay in the UK. This process is in line with 'lxst practice". This group mct oncc during the financial year to review a host family's asses￿￿ent who hel[￿ care for owonly UK patient dwillg thi5 ftnanciai year. Ambassadors Chain of Hope has a grow) of Ambassath who ran r¢prC￿ the ch￿lty at publi¢ events for fundraising and public relations purtx)ses. TIKse Ambassadors bave been Itstsl in the Legal and AdminisiTaiiv¢ scction of this report Volunteers Tbe ehatity is hTrghly depen(knt on very sktlled and tsJi(xted volunteet3 who ddiver our chaTitablc otKrations as well &8 our tundraising. events and aclivitic& Wc rewise that the donat1￿ of time and ￿pert15c to the charity is a huge component of all the work iyc ￿ out aDd a large amount of time liaising ivith our volunteers is essential to th¢ Su￿¢$S of dwity. Mcdicai voluntceTS tryte5ent a large part of gifts in kind calculated P4rthers and CollaI￿rat[an Coltaboration cix)rdination with other NG05 in the Countri￿ where we WOTk is importmt to Chain ol Hop W¢ work ivith Imrtner hospitsls the world to ￿1p provide the highest q￿lity carc to chilthen with heart dIS￿e as well &$ support NGOS aTKI hospttals in thc development of sustainable cardiac seTViCCS. We partsier with grdnt giving Or￿lSa110nS such as Gift of Life International and Rotary FoutMlati0￿ as well medical ¢haritÈes and mdical institutio￿% globally: eI￿rIng that we are providing the very bts1 expertise whilst not duplicating¢ffotts. Perforniallce and Fillancial Position In the year to 315t March 2025. total atnountd ￿ £4.88m (2024.. £4.03m) of which £3.42m (2024: £2.58m) was ttstricted in nature. The Gala Ball in Novemtr£r 2024 oncc awdin raised J￿8{ over £1.6 m. with £872k being raiscd outsiik of the Ball duringthe rest ofthe year(2024: £749kk Gift5 in kind amounting to £2.36m (2024: £1.61m) wete recorded for the PCTiod. Thesc largely relate to the value assign¢d to proftssÉor]al time and cxpcrtisc and mcdical equipment donated by medical aTKI hcalthcare professionals and medical instituiions. The charity irKurted £i.61m ol costs during the year {2024: £4.07m) or whieh £4.15m was Testrittcd (2024.. £3I5m Given the healthy r¢serves of the charity during the year it W&$ agreed to incur ¢xrthlitur¢ * a l¢v¢l higher th budgeted to suFwrt the provision of cquipmcnt atKI tra￿0 and to run additional partncr mi5510￿￿. The ¢harity finished the year An a strong fmaocial p)silion with Cash in bank and cunrnt asset investments of £3.1 I m (2024: £3.81m). This continues to ensu￿ liquidity and enablc5 thc clwity to continue to Sup[￿ its ongoing a¢tivitie& Financial wfomance will continue to be ek)5ely rniJniloreubl¢ the minimum reseTve5- CXLrcding this level d￿$ not ¢on5titLrte a breach - bul the board slx)uld disCUS5 ilith management rationale for ￿8]n]rtg T¢serYes abov¢ ihis m¥ximum and aim, wh¢n aptK(yiate. to retum reserves to the É&get Icvel. RR5k Man2gemeNt The Risk Committee, Chaired by Legal Tn￿te¢ Jason Edel gained a rKw Mem1￿ during this financial ycar &5 mentioned a￿ve and &8 a ra8ult had a complete overhaul of the Tisk rcgÉ5tcr. The committe¢ h&s been cvcry other month and sometimes Tnollthly to rcview ail risks on the ffgi5*r aDd re-evaluthe th¢ level of risks bringing most of the risk levels down lo mcdium atmj low. Senior Management have been put in charge of kcy risks with fflitigation action points to re[￿ ba¢k to the comrnittee regulaTly Kcy Policies and procedurc5 have been discussed at Risk Cornmittee and thcn provided to the trustees for rcvicw and approval. Russell Cwke have continued to provi(k regular wfvice and trainin Diversity, Equality & Inclusi Chatn of Hope is fvlty committed to championing equality. diversity and inclusion and to continuously I￿n how lo inCr￿e th¢ diversification ofour stsff. netsvLYL TrUstC￿ 5taffj volunteers 8nd supportcr& STATEMENT OF DISCIA)SiIRE OF INFORMATION TO AiJDrroRS The TnLsW of the charitablc ivho held office at the of approvat of tlKse Financial Statements. &8 set out on page I, hav¢ confirnied that so far as they are awarc there is no relevant inforniation of which the CoMpt￿Y s auditors are unaivaT4 tly have taken all steps that they ought to have taken as TTUStees to I￿ake thcrnselvc% aware of any rel¢Mt audit infonn￿l0￿ and to establish that thc charitable company's auditors are aware of that inforn￿ti1XL 14 CHAIN OF HOPE CHAIN OF HOPE TRUSTEES REPORT {COIYnNUED) FOR THE YEAR ENI DING 3151 MARCH 2025 ChxiTm*D'S Staternellt We were delighted to increase our number of overseas missions this year from 18 l&%t year to 21 missiot]s this past year thanks to our haTd iyorking stsff this enabled us to th many rnore patients whilsi continuing to teach and train local healthcarc profc&sionals in the countries we visTtciL W¢ arc irnme￿ClY proud to have partnered in Jordan to i￿reaSe our rni&5ions there this past year to help provide hope to children and d*ir families in the middle east particularly frorn ivar torn are&8 such L8 Gaza from where we mw]aged to s￿pOrt both the evacuation of rhildr¢n and Ih¢ir en)ergency treatment. We havc conttllucd to build our and voluni¢er wiry agaill Post pthmi¢ but remain wmmitted over the next year lo incre&se our medical voluntecr wity. We remain indcbtcd to OUT wonderful and hard iVOTking Fundraising Cornrnittee's who help Create our flagship fi￿d[a]Si11g cvcnt the annual &ta Ball. whith ogain was a resounding sucttss this year rdising over £1.6millio Wc owc most of this to ¢wr hard iyorking Committce C7Mir5 well our rnediL71 and nursing volunteers. A heartfe thank you to you atL or ethling u5 to save so ryw)y lives. Gavi Chairnwi 15 CIIAIN OF HOPE CHAIN OF HOPE TRUSTEES REPO]rr (Co￿lNUED) FOR THE YEAR ENDING 31$1 MARCH 2025 STATEMEiYf OF TRUSTEES. RESPONStBILfTIES The Trustccs (wkn arc also direthors of the cornpany for the puryyoses of company law) are resw)nsible for pretYdrÉn8 the Trustees. AnnuaI R¢￿rt and the Financial Staternents a￿rdance with applicable law and United Kingdom Accounting Siandar(Ls (United Kingdom c￿e￿IlY Accepted Accounting Practice). Company law requires the Tr￿￿te¢S to prq>are financial statemahts fix finwKiai ycar. whtch give a true and rair view of the state of affair5 of thc cl]atitable comp&)y and of the incoming resources and application of resouwes including the income and ex￿Id11Ur% of the charitsble ￿￿panY for th¢ Y￿r. It) preparing these financiaI statemcnts. the trtkstecs are required kn: select suitable accounling p)licies 2nd then apply them c4)msistenily" obsen'¢ the methods and principles in the Charities SORP 2019 (FRS102I. make judgements and estimates that ￿ rc￿￿￿abk al￿ prud stale ivhether applicable UK Accounting Standards have been followed subject to any material dme expenditu￿. for the year then ende&" have Imi worKrfy pretwed in ￿)rd￿¢¢ with Unitcd Kil￿￿M Generally Accepted Accounting Pra¢ti¢e: have prq>arcd in aca)nlan¢e wilh the requirements of cOm￿lieS Act 20￿ and CharitÉLs A 2011. Basis for Wc cotthcted our audit in with International Siallda￿ on AuditÉng (UK) OSAS (UK)) and applicablc law. Our r¢swnsibilitios undcr tIM)5e sL￿dardS are fithr descrilKd An the Auditor's rcswnsibilities ftii thc audit of the fmancial statements section ofour re￿}rt. We arc indcpendent of the cRwitablc company in accordance with the ethical requiren7ents ttmt are relevant lo our audit of the fillancial s¢afrments in th¢ UK including the FRC'S Ethical SI&Mlarf 8nd we havc fidfdled ow other ethical Ic5wn51Thilities ITh accordance with these requiremerrts. We bdieve that the audit evidetKc wc have obtain¢d is wfficient ond apixoimte to provid¢ a b&sis for our opinion. Conclusions r¢latinE to %oing concern In auditing th¢ financial swunents. we have LY)ncludcd that the Intstees. use of thc going concem basis of a￿oUnting in the preparation of the financial slatements is appropriat& Ba5cd on th¢ work we have pthrniC￿ we have tK>t identified Jny material uncertaiMITes Tclating to events or L￿nditIOnS thaL illdividually or coll￿11vely. may cast Si￿lfiCant thubt (yn the charilable compwiy'5 ability t continue as a going concern for a period of at twelve llm)n￿ frorn when the financial staterncuts ate authorised for issue. Our rcstx>tLsibilities and the responsibÈlilic5 of the tr￿St￿ with respect to going concern trc dcscTibcd in the relevant of this tetKirL Other informatio The other infi>tmation comprises th¢ infotmation included in the trust¢¢5 aDroJal rew)rt, other than the fiTwiciat stst¢m¢nts and our auditor"s re￿rt th¢r¢offt The tnL8fres are resrA)nsiblc for the other infornlation contained within the an￿￿ report. Our opinton on the financial tstatcments d￿S not cover the other inforn)ation an except to the ¢¥trnt otherwise explicitly stated in our rq￿r( we do exprc&s any foJm of assurance conclusion thereon. Our reS￿nsIbIlity is to read the other infOrm￿lon •niL in thjing so: consider whcthcr the other information is materially itKonsisttht with the financial statements or our knowledge obtaincd in the course of the audit or otherivise ap]￿arS to ￿ M￿er1211Y misstated. If we identify such material i￿1￿5151cnCIcS or apparent materi misstatement& are required to detennine whether this gtY&s rise to a material rnisslatement in the financiat statemettts themselves. If. b&scd on the work ive have Errforniol we uxlcludc that there is a materiat mi55tatement of this other inlorniation. we are required to rqM)rtthat fact. We have nothing to repcwt in this reg 17 CHAIN OF HOPE INDEPENDE1￿ AUDITOR'S REpoirr TO THE TRUSTEES OF CHAIN OF HOPE (colltillued) FOR THE YEAR ENDING 31xt MARCH 2025 Matters on whieh we are required to report by exception We have nothing to r¢wrt in rw of the following matt¢rs in relation to iyhich the ChaFiiics (Accounts Reports) RegUl￿[OnS 2008 rewire us to rekivi to you if, in our opinion: thc inf0rD￿tIOn given in the Trus*e5"" Annual RepMt is inconsi5tcnt in any material rspect ivith the financia] statementy or the charitable company b&s not kept ￿ ac(x)ufiting records. or the financial statcmcnts are not in a8re¢m¢nt wilh lh¢ ar£ounting record5 8nd r¢tum& or we hav¢ wt r¢ceivcd all the inf0m￿l￿)n and expla￿l0￿S we required for our audiL Responsibilities of trns¢Ee5 As explained more ￿llY in the trustees." resp)nsibiliti¢s statement set out on page 13. the (who ar¢ also the directOTS of th¢ charitable company for the purpose5 of company law) a￿ r¢S￿A$1b1¢ for the preparation of the financial and for ￿Ing satisfied they givc a irue and fair vi•v. and for such internal contToI as the trustea8 d￿￿nIn¢ is necessary to ¢nable the prepar&N)n of fuwieial sts(emeDts ihat are free from materi misstslemeoL ivhcther due to fra￿ or etror. In pre￿1￿ the financi￿ statcment4 the tr￿SteeS are resFL)nsiblc for th¢ Lawitsble ￿)￿PanY'S ability to continue ag a going concenL disclosi￿ applicable. matter5 rclated to going con¢¢m and using the going concern b&gis of accounling t￿1￿ the tTU51ees eitlw intend to liquidate the charitable LY)M￿ny or to cease opcrdtioDS, or bave realislic ahemative do s(L Auditor's responsibilities for tke awdit of the fAancial slatements The tru5tCC5 have elected for the fu￿￿1&i s￿¢￿rnts to be audited in accffllance with the Charities Act 2011 rather than the CompaniLs A￿ 2006. Accordingly w¢ have been app)inted &% auditor5 undcr scction 144 of ihe Clwities Act 2011 arld report in accordance iyith regul￿10n$ mad¢ under sethion 154 of ACL Ow objccttves ar¢ to obtain reosonablc a￿￿ance about whether the finttnciat statemet]ts a whole are fire from material misstatement whether due to frdud or cnDr: and to issu¢ an auditor"s reEKYrt that includes our opinion. Rewnable &%surdnce is a high level of assurance but is not a guarante¢ that an audit conducted in accordance with ISAS (UK) will always detect a mateTial misslaternent when it exists. Mi&statements can arlse fmm fraud or error and aT¢ consid¢red rna*rial if. individualty or in the aggregate. they could r<&￿thIY E expected to influence the e￿nOMiC decisions of usc[5 tak￿ on the b￿1$ ofthese financial staternents. A fvrther description of our wsibilities f￿ the aKlit of thc financial statements is k)cated on the Finan¢tal RrportiDg CouDciI's websitc at: Ivww.frcA>rg.uklaUditorsr¢s￿ns1b1IIt1cs. This description fornis part of our audilor'5 TqX)rL Irregularitic4 including frdud. are instan¢ts of notFcompliance with laws and rcgulations. W¢ design proce(hurs in line with our ￿$￿)nSIbilitie& outlined alx)v& to detect matCTial Jni3slatem¢nts in respect of irre£ul8rilies, including fraud. The exte￿ to which our pr￿ are wmble of detecti￿ iTregulariti¢s. including fraud is detailed belolv. Expt2Dation as to what extent the audit Th Co￿ldered ￿4p#bIe of detecting irregulxrities including fraud The objectives of our audii in ItS￿t of to idattify and assess the risks of Materi￿ misstatemenl of the financial statements duc to frauc to obtain sufficient appropriate audit evId¢￿e Tegarding ihe assessed risks of malerial misststement to fraud through designing 8t￿ implcfflcnting appropriate res￿￿5¢5 to Ih05e &w thc charitable compaDy compli¢s with Ihese requirejncnts by discu&sions with management and those Charg￿ with governance. We inquired of m&went and tIKtse chatgcd with governance as to any known instances of non ompliance or siisr*ded non-compliance with laws and rcgulatiotL& Considerdtion also made of the iTrternal contNbls in place to rnitigate the Id￿tir￿d risks. We &sse&8ed the conltDI enviroiimrt thryJnKnting the systems, eontrols 8nd pN)cess¢s aijopted The audit appr(th incorB)rated a combinalion of controls where appropriate. an81￿]Cal review substantive procedures involving tests of trdnsaL%iotLS and balanc￿ Any irregularities notcd wcrc discussed ivith manwcnt and additional coM)bor￿1Ve evidence w&% obtaincd &8 required. To addre&8 the risk of fraud throu8b managetnctrt ovcrTidc wc: perfornied analyiical procedures ￿ identify any unusual or unextttted relationships. testcd journal eThtri￿ to identify any unusual transaGtiotts" testcd iicms of expe￿ILlure to ensure that tiw We￿ volid and appropriate; assc55cd ivhdhcr j￿ementS atKI a8sumptions tnad¢ in detemiining the ac￿)UntIng estimates wer¢ indicative of rx)tential bias: Teviewed the disclosu￿5 within the financial ststanents to ensure they mcct thc rcquirements of the a￿oUntIng standards and rclcvant IcgislatiorL 19 CIIAIN OF HOPE INDEPENDEYI r AUDITOR'S REPORT TO THE TRUSTEES OF CHAIN OF HOPE (tontlDu¢d) FOR THE YEAR EYDING 3131 MARCH 2025 In reskx)nse to thc cla&sification ofincome bdweffl restrictcd ￿d ￿￿estrICted w agreed a Sample of ill(x)me reLxthd in the nominal kdger to s(NJrce d￿UmentatIon to ensure any reslrictions iv¢Te correcily identifie agreed a sampk of cxpcnscs to ensure that thcy had been allocated to thc appropriate furyl. obtsined and reyiavcd fi￿d analysis workings to ¢ll9Jre that the calculations wcrc CO￿eCt agreed to the xcounting records. In response to thc risk of Irregu￿ltieS with regards to rccogDttion ofincome ive: ageed a sample ofoperations fr(bm medical I￿rn to calcUl￿10￿S wovided 8grccing the calculatio obtained clients girts in kind ca1￿latiOn and a￿d the b&sis ofutculation. tn response to the risk of inegulatities with ffgards to provisions and contingent liabilities wv. reviewcd insurance Ll)ver d(rnu)taiion" and reviewed minutes and corr¢sEX)ndence with third partic Thrrr arc inherent limitations in our audit procesJurLs d￿lbed abovc. The more removed that laws aThl regulations are from financial transaction& thc less likely it is that we would t￿)rne aware of ￿n￿o￿p]ianCe. AudFting standards also limit tk audit pr(yccdurcs rcquired to identify no￿￿O￿p118￿ce with laws and r¢gulatiot]s to enquiry of thc direckn and (rther manawllert and the it4￿tIOn of regulatory a￿1 legal corresrK)ndenK if Material misslalements that arise due to fraud can be harder to ddect than dM)se that arise frThn ern)r &8 tl may involv¢ deliberate con¢ealm¢nt or collusion. Use of our report Thts report is made solely to the charAty""s tnLSte4 &8 a t￿. in accordance with part 4 of the ClwRties (Accounts and Reports) Regulation5 2008. Our audit work h&8 Imi undertaken so that we might state to the haritable ￿mp￿""S trustees those mattcrs wc are rniuired to stste to thcrn in an auditor's and for no other pwx)se. To the fvllcst cxlent t￿litted by law. w¢ do not accept or assum¢ TC5WtLsibility to anyone other than the charitsble company atjd thc charitable a)mpany's tru5tCas as a kndy? for (wr audit wo￿. ror this re￿rt, or for the opintons we hay¢ foTTllCd. MooKe (s￿} LLP Suite 3, Second FI￿r Friary Court 13-21 High Street Guildford Surrey GUI 3DG Moore (South) LLP Statutory Auditor 4 r￿ern￿r 20 MooT¢ (South) LLP És cligible to act as an auditOT in terms ofscclion 1212 ofthe Companies Act 2(Kl6. 20 CHAIN OF HOPE StatsmeDt of fiDancial activities (IDcorp)ratittg an irteome of expeDditure acconot} For the yur ended 3151 2025 2025 Totsl 2024 Total Restiicted Income from: Donations and legacies Other trading activities Investment income 975.953 411.320 3.419.965 4J95918 411J20 76993 3.499.136 458.498 Total ioeome 19 4 031.947 Expendithre on: Raising fill ch￿ilable activities: Ov¢rse85 Activities International Child Refcrrai Pmgrdmme 921,548 921548 731.184 410.887 125.866 3549.454 603.872 3.960J41 729.738 2.695.685 644,399 Total expenditsre oi 4 153J26 &611h27 4.071268 Net income l (expeoditure) before otber re(ognised gains and Iosst5 5.965 733 361 727 Net Movement in fquds (73U61) (727J96> (39J21) Re¢ollciliation of futtds: Tolal fi￿dS bmught fi)rward 2.535 036 1.19&976 1732A)12 3.771.333 Total ￿ldS carried for￿rd 2541.001 463.615 All ofthe alx)ve Tesults arc derived from continuing activitiC5. TheK were no other recognised gain8 or losses Ot￿ than those 5tatcd above. The notes on pages 21- 36 forni part of these financial statemcn 21 CHAIN OF HOPE Balance Sheet AS at 31st ivlarch 2025 2025 2025 2024 2024 Fixed xssets: Tangible &%sets io 82.781 .575 Current 8&sets: Debiors C￿h at bank and in hand Investments Siock li .562 2.028.376 1.079.592 191J98 3.5(kn.928 21M)207 2.778,437 1.035.386 4.014.030 Li#bilitie&' Creditors: amounts falling ducwithin onc 12 Net current assets 2.921J35 3 723.437 Total I￿% (urrellt liabilibcs 31W616 3.732.012 Tot21 net #ssets 3,IJM.616 3.732.012 Funds Rcstrictcd fillm Unrestri¢ted fiumts: 14 403fj15 1,196.976 14 2541￿1 2.535.036 Total unrestricted fimds 2.541.lJ)I 2 535 036 Total futtds 3,004fy16 3.732.012 The fjnanciai statements have been Prepared in 8cwrdatKc with the special Fyovisions for small comp&)ies under Part 15 of the Companics Act 2006. For the year ending 3 1st Marth 2025 the company was entiual to cxemption from audit w)&r section 477 of the Companies Act 2006 relating to small comFkmie& However. an audit is rcquircd in accordance with sertion 144 of the Clwitiw Act 2011. Directors, tt8p)nsibilities: - The membcrs have n(rt TequiTed the company lo obtain an audit of its ￿)￿nIS for the year in question in aecordanrt with section 476. - The dircctoTh acknowledge their [￿PonsIbl[lI9￿% for Com￿Y1n8 with the requiranents ofthe Act ivith respect to accounting teixmth aThl the prew4tion of the accouuts. Approved by th¢ ljuslees ￿ .r.? .. and Siw￿d on their behajfby: Dr lan Ggvin Wright Ch*irnJYdD Company Regirtration 3933420 The notes on pages 24- 36 part ofttK financial 5Lthrn￿. 22 CHAIN OF HOPE StatemeDt of Qsb Flows For*he year ended 31si March 21125 2025 2025 2024 2024 Net cash (used tll) I provided by operxtiDg activitie5 16 {703.56D {45.221) C*sb Ilows from investing activitit Interesl received P&ym¢nts to acquire r￿ed assets 76.993 (79.281) 74J13 (7,906) Net e*sh used in financin% aelivities chaTr￿ in cash and c&sh equivalcnt in thc yrdr (705,855) 21.186 C&th and equivalellt at thc bcgitujingofthc 3.813.823 3,792.637 Casb and casb equivalent at tbe eod of the year 3,107,968 3.813.823 Cash and ush ¢quival¢nt ¢ODsi3ts or: Cash at bank and in hand Cwrent Investrnents 1028.376 1.079.592 2,778,437 1.035.386 Casb (ash equivaknt at 31st March 2025 3.107,968 3.813.823 23 CHAIN OF HOPE Note5 to The FiDanciaI Statements For th¢ year emded 3151 March 2025 l) Accouoting polieAes a) Compydny Statss Thc coniw is a company listed by guarath and no share capitsl. The company is dotniciled and incotWTatcd in England and Wol¢s. The members of the u)mpany are the Trustees namcd on page l. In the event of the company being wound up. any liability in respect of the guatantcc is limited to £1 per member of the company. The addr￿ of the registered o￿lCe Is given on pagc 2 of these financial statement5. The nature of the charity5 opciations aKi prtncipal activiti￿ ere explaincd in tIK Trustees RetQTL b) B*$is ftlr preparation The financial ststements have I￿ert pre￿red in a¢wTdanc¢ with Aca)unting and Rqx>rting by Charities: Statcmcnt of Recommended Practi¢¢ applicable to charitics preparing ￿llr attounts in accordance iyith the Financial Re￿rtIng S￿￿18rd appli¢abl¢ in the UK and Republic of ireknd (FRS 1021 Charities Act 2011 and the Companies Act 2(Kl6. The fit7wKial statements arc prcpared in sterling which 15 the fimctionai cunELW and bave been Tounded to the ￿￿¢s1 wund. Th¢ firAwial slal¢ments h&vc iwi pr¢￿ed under historical cost ajnvention. The cE￿ilable (x)mFany meets the defmition of a public I￿￿fit enttty undcr FRS 102. Assets artd liabilitics are initially Tecogniscd * hFStorical cost or trdnsa¢tion valuc UDIcs5 (AbeTWiS¢ Stated in the relevant accounting policy or n(*e. e) Going coneern The financial statements have IKen prcparcd on a gY)ing concem iwis as thc trustees klieve that no matcrial uncertainties exisl. The In￿le¢S have constdcred the level of funds held and the expected level of income al￿ cxFndsLure for the 12 months from authorising ihese fmancial Stalem¢n￿ The budgeted In￿￿¢ a￿1 expendittwe in addition io existing reserves is sufficient to fund the d)8rities filture operations and for the charity to Fx considered a 201￿ c(xwem. d) Income Gifts. th)nations and income from (ther trading activities ￿e recognised when th¢ th￿lty has received the funds and any perforn￿￿e Conditio￿ attathed to i5KOmC have beffl meL Oiher in￿m@ including t&x recoverable from Gift Aid is credited (x) an accTuals b￿ls. Gifts and donations incI￿[C amounts received at fundrnising evcrts and gcneral gifi Legacies are ￿Unted for ￿ the earlier of: - the date on which the chriry is aware that probate h&8 iwi granted. . the eS￿￿e h&$ becn fitdised and Th)tifiC￿lOn has ffla(k by the ￿ecUto￿5) to the charity that a diSt￿￿U1[0n will be made. or . w￿n a distribution is ma& frimi ￿ ￿1¢ Receipt of a Icgacy. tn wtlole or parl is only considercd probable ivhen the amount can be measured reliably. and the charity has kn notified of the ¢x¢¢utorfs intention to make a distributio￿ Where legacies have been notified to th¢ charity. or the charity is aware of the 8ranting of probat4 aJMJ criteria for reCogD1ti￿ have not t£en meL then the leEacy is I￿ated&S a contingem &ssct aKi disclosed if material. 24 CHAIN OF HOPE NotL8 to The Financial Ststements F•rthe ye*r ended 31st March 2025 l) A¢eoutttiDg policies (cootinued) ¢) DoDation of8ifts, services and faellities Donated professional 5crvices and thnated facilities a￿ re(x)gni5cd &5 income when the charity has control ov¢r the item or T¢¢eived the service. any conditions ass(Kiated ivith the dOn￿lOn have been met: thc receipt of econornic benefit from the vs¢ by the chatity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charitics SORP (FRS 102). volunteer tirne (other than that offered in the c4)acity of a medical professional) is reuyiised so ref￿ to the tTUStees"" ￿U81 report for more inforn￿tIOn about their Contrib￿10 On receipL th)nated gi￿ wif¢ssional 5erYices and th)nated f&ciliti&% arc rccognised on the basis of the va]ue of the gift to the Gharity which is the amount the charity would h&ve been iyilling to pay to obtsin serviw or faciliti¢s of equivatent ecor¥)mic ￿nefit on ihc opcn market. a corre5p)nding 8fflount is then rccogni5cd in ￿pendItUre in the peri(Kl of receipL No value is given to th¢ donalions which are given for subsequent ￿￿Kin as Prizes at events due lo difficulty, in many of establishing a fair value of the donation. 0 Illterest receivable Interest on fun(Ls held on deposit is inclth whcn rcceivabEe and th¢ amount can be measured reliably by th¢ charity" this is ￿rn￿lY upon notification ofthc interest paid or payable by the bank. g) Fllnd ace•un*illg Unre5trictcd funds are available to spxi¥J on activities that fijrther atky of the w￿￿seS of charity. Designated funds are unrc8lricted fu￿1$ of thc charity which the trustees have decidcd at their discretion to set asidc to for a specific purposo R¢stri¢ted funds th)nation5 which the donor has specified are to be solely used lor particular are&$ of the charity""s ivork or for spectfic projects being undcrtakcn by the b) EXpelld•￿re and irrttover*ble VAT Ext￿nditure is r¢co8nisoI once thar is a legal or ClMtstn￿Vc obligalion to moke a payment to a third party. it is probable that settlement will k rcquired: and the amount of the obligation can be rnthsured rcliably. Fxpendittwe is C1￿£r1ed un(kr lh¢ following ￿livity headings: Costs ofrdising [￿d$ comwise of trading CO￿ and thc costs incutyed by the charitsblc cotnwdny in inducing third Wies to make Yoluntary c￿til1Xrtion5 to IL &8 well as the w5¢ of ￿Y Ktivities Ivith a fundraising puwose. Expenditure on charitabl¢ a¢Xivilies includes the o)sts of deliveTing serviccs. exhibitions and oth eduealional &tiYilits utvJcrt&cn to fitrther the purt#)s¢s of the charity aThJ their aw)ciat¢d suprKIrt Costs. Othcr expenditure retKesents those ilems not falling into any other l*ading- 1rrccovc￿IC VAT is c1Tr3rged as a against the K*ivity for wbich the ex￿ndIt￿re was incurred. AIIDcatioft of support Costs Support costs are those functions that are essential to the work ofthc charity but do noi di￿llY telatc to charitabl¢ activities. Supp)rt cos15 include back offic¢ co&5. finance. ￿nnel. payroll and governance costs which support thc chartty's wogrAmrnes and activities. Thesc LM)5ts have been allocated bthvccn cost of raising funds and ¢xFndithre ott chaTitable a¢liv(tia Th¢ toses 4)n which supwt costs havc Eten allLKated are sth (yjt in note 6. j) Opergting leases Rcntal clwges are charged on a 5tTaight lin¢ tosis over the terni of the le￿. 25 CHAIN OF HOPE otes to FingDci41 Statements For i&e year ended 3151 M#rtb 21ll5 l) AecouutiDg pulicies {colltinued) k) Tangible fixed assets Jiems of equipment are capila]ised where the purch&sc price excee(L% £l.IKM). Depreciaiion is provided at rates calculatcd to writc d￿vTh t1￿ cost 0F￿h asset to its c5ttmated residual value over its &¥pected useful life. The dq)reciation rat&s in use are as follow5: Fixtuffs fittings Compirter equipment Medical equipme 250A 33% 25Ya l) Debtors Trade and other dcbtot5 are recognisd at the settlement amount due after any trth discount offer￿L Pr￿yments val￿d & the amou￿ ￿epaid net of any trasit or 5irnilar accounL n) Creditors aDd provisions Crcd¥tors and provisions are recognised whcrc thc clwity h&s a present Obligati￿ r￿VItIng from a p&st event that will probably Tcsult in the transfer of fimdg to a thÉrd party and amount due to settlc thc obligation can ￿ m¢asured or esitjnatcd rcliably. Creditor5 and provisi(w are nornlally recognised at their settlement amount after allowing for any tra(k discounts du o) Financial instrnmeDts The chaTity only h&s financial &&sets aod fmancial liabilitics of a kind that q￿1]fy as b￿lC financiaI instruments. Basic fllwKial instruments are initially re¢ognised at tr8JLWtion value and subsequcntly medsuredat their settlement valt p) Pemsions The charity contrtbutes to a defined wntribthion sehetlle on FEhalf of its employxs. The assets of the scheme are held separately from those olthc company in an inde￿dentlY admini5t¢rcd funiL The pension Cost chargcd to the Statemenl of Financiat A¢tivilir5 rq￿scnts the arnount due the ￿COuntIng wiod. q) Forel%n ewrrtnry Foreign currency tTans8¢1iorts inilially reco8tiised by applying to the forei￿ currency amount thc swt exchange rate betwccn the fimction21 curretKy and thc fotcign Currency at the dat¢ of the IransactLOn. Monetrdry assets and liabilitics denominated in a foreign curtcncy at FAlance sheei date transIated ustng the Closing rate. r) Taxation The charity is cxcrnpt ch¥ity within the meaning of 5chcdule 3 of the Charilies Act 2011 and is onsidered to pass the tesls sel out in Wdgwh I SdKdule 6 Finance ALX 2010 and thereforc it mccts the def￿[tion0f a charitable company for UK corimxation t&x putp)se& s) Current a&set investments Cash is also held in 5avtngs a￿oUnts with minimum wtthdraival ￿ ￿er than 90 d&ys for the purp)ses of maximtsing interest T¢tUllL 26 CHAIN OF HOPE otes to The FiDaoeial Statements For the year tnded 31st Marth 2025 l) Ateountillg polieies (contiDued) t) Judgement snd key sourtes of estirnation uncertainty In the opplicalion of the Charilablc CoMp￿Y'S accounting tK)Iicy* the Trustees are required lo make judgements, estimates and assumptions about the Carrying amount of ￿$ets and liabilities that ar¢ Wt readily appar¢nt from other siMJrce5. The estirn&es and associ￿ed assumptions are based on historical cxpcricncc and other factors that are o)nsidered to be rclcvant. Actual results may differ from thc5C stiNEatc& The e5timat£8 and underlying &55umpliors are revI￿Ved on an on￿ing basis. R¢visions to acwunting estimates are recognised in the perityj in which thc e51imate is revised where the revision afftcts Ex)th In asse&8ing the inclusion of services ]xovided to the tharity as gifts in kityj within these financial 5tatCmCn￿ thc trustecs have ￿essed the valuation of these gills in kind tl]rough review of the costs of such S¢rVic￿ ulldcr Standa￿ p￿￿ed￿re& TIKse judgem¢nts we m&1¢ in the light ofthe activity IKing undertakcn 2) Detsiled ￿mpa￿lI¥eS for the statement of ae(ivities 2024 2024 Restrirted 2024 Totsl Income from: Donations and lewdCi& (hhcr tTading activilics Investment income Total iDcorne 916,007 45&498 74.313 1.448.818 2,583,129 3,499.136 45&498 2 583.129 4031.947 Eipettdithre on: Raising fvnds OvcrsC￿ activities Jntcrnational thild ￿e[raI ￿08r￿e Total expellditsre 731.184 39,019 48,026 818,229 731.184 2.695.685 644.399 4.071.268 2,656,666 596 73 3.253.039 Net Moveme￿ in funds 630,589 (669.910) (39.321) Total brDught fonyard Totsl funds carried forward .904.447 2,535,036 1.866 866 1.196.976 3 771333 3 732.012 27 CHAIN OF HOPE Notes to The Financial Statements For the yearended 315[ March 2025 3) Income frnm doDa¢ivns and kgacies 2025 Total 2024 Total Uares¢ricted Restricted Gifts Donatcd scfYiLfS Legacies 973,073 2,880 I.(KA.227 2.355.738 2.037.3(Kl 2,358,618 1,888,620 1,608,516 3.499 IJ6 4) Iucome from other trading activities 2025 Totsl 2024 Totsl UDrestrieted Restrieted Fundraising Event 411.320 45 411 320 ￿498 S) Income from inveStn￿llts 2025 TolaI 2024 Total U•restricted Restricted Bank intcrcst 76.993 76.W3 74.313 6) Anatysis of expendit4re Basis of allo¢*ion C05t of raising funth activilies ICRP 2025 Totsl 21)24 Total Dir￿1 I Staff costs Dire£t Costs Grants mad¢ SupEXYrt costs 263.386 565.930 308.t147 2.725.627 821,629 104.638 129.511 556292 701J44 3047149 821.629 594.587 3.￿5,230 254.301 217.150 Direci Dir￿1 Hcadcount 2232 43.935 Total ¢xpendi¢ur¢ 2024125 921548 41 5,611,627 4,071.268 Total expenditure 2023124 2.695.685 644399 4.071.268 3.908,094 Of the toial ex￿nditU￿ £1.458.301 was from unrestri(knl fijnds (2024: £818:229). £4_153 J26 w&s n frorn restiicted funth (2024: £3253.039). Where costs be directly attributed lo a I￿rtiCUlar activity. a hea(kOU￿ metlM)d of app)rtionment ffis used. Included within support costs are governance costs of £55.939 (2024.. £72:837). 28 CHAIN OF HOPE Notes to The Fiuancial Ststements For the yur ended 3151 Mareb 2025 6) Analy$i5 of expenditure {continued) ranLA Enaile b C'hain of Ilo e 2024,24 Recipient Number of GTrnts Puryose Amount (£) Sal&y Sup[￿ for Director and Pro8rnmrne Ordinator Training of RwaRdan nurses Trdining of nurse Pthii)ni5ts Treatmeni of 30 Egyptian childr Domin1L￿ Rwblic Cedim&t Hospitat: 3 CathctctisatiODISurgical missions Bolivia 2 trnining visiLs C4)nsurnable Equiprnent to SUPM a local mission Consumable Equtpnent to supwt a local mi&sion Ch8in of Jamaica 35,403 147,331 46247 196.784 Aswan Heart Centre Gift of Life Illlcrnational 35.789 35,532 The Childrens Heart Fund of Ethiopi Cardiac Cel 46.160 Uganda Heart Institute Hammoud Hospital Lcbat The Childrens Heart F￿￿1 ofEthiopi& Cardiac Ccntre Uganda Heart Instityte The Bustamantc Hospital for Children Cardtac Centre 7.7(H) 79.285 Supw)rt Local procethllts Echo Machine al￿ Pri)t¢ Echo Ma¢hine and Proi 63,799 63.799 Echo Machine al￿ Probe 63,799 821,628 17 ie 207 1,?4 Rttipiettt Numberor Grants Purpose {£) Salary supp)rt for Director and Progrdmme Otdinator and ￿ternal Financc support Trnining oFRw8th n￿rSeS Treatment of18 Egyptian Children Heart ItL%titthe- Treatment SUPPOrt Kosovo- Suroeries and Cathetri5aliotJs Dominican Republic- Surgeries and cathden￿l0Ls Chain of H<)pe Jamaica Aswan Heart Cent 39,019 111.271 103.566 45.180 l5.562 Gift of Lift It]tcrnatiot 39.484 11.490 Jordan Univ¢tsity Hospital 12 36 72 Last year the balance of the gyani awarded in rc5PCCt of the c(MhstruLtion of the RwatNJa Hospttsl, £177,901, %v4s written b 29 CHAIN OF HOPE iyotes to The Fioalltial Statemeots For the year ended 31st March 2025 Net (expellditsre) l income for the year This is stated afier ¢hargin8 1 (rrcditing): 2025 2024 OpcratiDg lease rentals: Property Other qUiF8nent Depr¢ciati¢)n Auditorfs remuneration: Audit ftts AccoLmtancy services Foreign exchange Igains) I losses 51.840 2.530 3.947 5.075 13.140 2.016 5.185 12582 1112 1.292 Foreign exchange differe￿ are shown in thc SOFA with the ￿l￿ed ilem of income or exwditure in 2024 and 2025. 8) Analysis of staff tos¢s gnd employee belleffts 21)25 2024 Salaries and wag&8 Tempordry StalT Social securKty cosls Employer's contribution to d¢fmed contribution ￿)SIon schem&s 518.946 112.679 51.400 18.318 701.343 522.621 7.016 50.226 14.724 The following nutnl*r of cmpknytts received employee benefits (excluding employer r￿￿10n) during the year in excess of £60,IKM): 2025 N( 2024 £70,000- £79.999 30 CHAIN OF HOPE Ilotes ¢0 The Financial Siatemeuts For the year eodcd 31sl March 2025 8) Attalysis of staff costs amd employee benefjts (tontillucd) Stsff Numbers Thc avcrnge nU￿￿r of cjnployccs during ycar follows: 2025 2024 Raising fjjnds Charttablc aGtiYitics Supp)rt 14 15 9) Tnth and key my4n￿eMent remnoerali04 aod upenses The total amount of employee benefits including PQLsion contributi(ML8 of key managemfflt r¢r$oTU￿1 was £89,559 (2024.. £85,075). One TnJstee reimbursed a totsi of £75 (2024: £Nil) for trdvcl costs Incurr￿ in connection with Trustee dulkes. No other payments or t0￿fits were made to Tntste&s {2024: £Nil). During th¢ year 4 (2024: 3) TTUSt¢&s (kynations totalling £4(KI (2024: £4,1741 3 (2023124- ￿¥ne) TnLs*es prdwsed ball tickets at £5.982 (23ll4- £nil). An In5urdncc policy in resr£rt of TnL%tee Professional Indenmity has beth taken out for th¢ ycar cndcd 31 March 2025. * a c05t of £672 (2024: £072). 10) Taogible fixed assets Fixtsres and fittiDgs Computer eqllipjnent equipmen¢ Totsl Cost Ai th¢ start ofthe year Additions in year DTsp05als At the end of ts year 1.073 16.108 5.800 Il8J14 73,481 13&495 79281 632 161.653 180,697 Depreciation At the start of the year Elijninaied on disposal Charge for the year Ai thc cnd of thc year 1.073 (441) 13206 (3.495) 1401 I l2.641 (30,145) 2.674 12A920 (34.081) 5.075 97.914 632 Net book vallle A$ at 31st M2reh 2025 6.299 76.482 82.781 As at 1st April 2024 5.673 ￿75 All of the a¥x)ve as%ts used for Ch￿itable pUr￿)St& 31 CHAtN OF HOPE Notes to The Financial Statemtnts For the ytarended 3151 March 2025 IA) Debtors 2025 2024 Other debtors Prepayments AcCn￿d income 71500 82,157 7,727 151480 40.0 200 207 207.562 12) Creditor5= Arnounts falling due witbia •ne year 2025 2024 Trade creditors Grgmts payabk Other creditors Accruals Other t&x a[￿ social sccurity 37,918 64.411 14,601 35.405 159,454 220.018 323.717 585.093 290.593 Included in otheT tax and social security is ￿:440 {2024: £2..987) rclating to the pension ¢reditOT at thc ycarend. 13) Operating IRases Totsl firturc le&se payments under no0￿CrI1able opeiating lea￿ are as follow: Property 31￿ M*rch 2024 Equipmellt 31st Msrt 2025 Equlpme#t 31st ivlareh 2024 31st M#r¢h 21125 thon l year One to five yrars 55,812 45.159 100.972 54.432 130 590 54.432 130 590 32 CHAIN OF HOPE Notes to The Winallcial Statements Fortbe year ended 31￿ Mareh 2025 141 Movemenl io Funds Donations made to Chain of Hope ivill somc circutnstatLTS have sp￿]fiC Testrictions attscbed by the donor, Whe￿bY the fiJTMls can only k used for a s￿¢1[1¢ p￿￿. In such eirujmstanccs the fim(Ls received 8re deemcd to be restricted in natwe. It is thc practicc of thc charity to utilise r¢strided fiJnd5 a5 ihe pritnary source of funding where possible, supplemenling activilies wilh unrestricted funds Whe￿ restricted f￿￿$ have bccn exhausted, to ensure maximum opcrational (klivery and to ensure that the objcGtiV¢5 of the charily we meL As at 1$¢ April 2024 Tot¥1 F•Dd lrteomithz resourtts Asat315t Martb 2025 Total Fuad Outgoillg resoprtts R¢stri¢ted futtd$: County RelathlOverseqsAdiwtses 3.896 309,836 2,000 180.554 3.750 234.498 23.458 (261.824) (I¢xM)) (180.554) 31,104 282,$111 Aswall 2 Jamaica Hardivw¢ Equipmellt Fund Rwanda The Gambia Uganda 12.781 13J21 10.918 3.274 (10.918) 375 3.649 InlernaltonalChildReIerrdlPT￿1Qrn Child Fundtng 603_8n (603172) ￿e￿¢ll1 Eq4ipn*nl Medical EquiFMnent I Medi￿] Equipnent 2 272.712 42.303 85.0(K) {300:189) (5.279) 57523 37J124 General Overw hfissionx & l)e*nl Fund a Medical Volw)teer's Flight R¢sourc¢s Guaranty Inc Heart Valve Replacement Ftllml Equipment foT Chtldtell's SUTgery in i£banon 5￿Y￿s0r a Child from Gaza Devicc to Close Hole ID Heart Bair Hugger Fund 244.536 1404.655 (2.649.191) 2,0110 50.IKXI 4.140 2,500 2.250 4.593 2.)72 (50.IKKI) 4.140 4593 2J72 Tr4inin8 Ukrain¢ 120.000 6.407 6.916 (112.957) 14,019 6,407 Total restricted fi￿d5 4 1?3J26 G¢ner41 F￿ndS 2.42A452 1.464y (1.458JOI) 2A32,417 Unrealised exthange ￿nS Totsl unr¢stri¢t¢d furtd$ 108,584 2J35.036 108J84 2541.11(11 1.458JOI) Total funds 3.732.012 3,0(14616 33 CHAIN OF HOPE Note5 to The Financial StatemeDts For the year ended 31Ji hlarch 2025 14) Movement in Funds {continued) Restricied fiuML% in thc y￿r relate to: Coulltry Relaied Over5rn5 Activitits: Restricted to Medi￿ a￿1vity in a 4xYific county. Thc Aswan l is restrided to WOTk at the Aswan Heart Centr The A￿Van 2 filt￿ is rastrided to the Irethment ofEgyptian children at the Aswan Hcart Centr& The Ja￿all￿ Hardware equipment fimd is restricted to the lY￿t of hardware equiprnoit for t￿ Bustatnantc Hospttal Jamaic& The Rwanda fimd is restrictedtowards the cgtsblishment of the Rwallda Hcdrt Care & Research Foundation. The Gatnbia fimd is reslricted to the treath)￿t or screening of Gambian children. The Uganda fi]nd is Irstricted knvards to the treatment or scrccning of Ugath Children. The Training fjmd was created for training hcahhcarc p￿f￿S10nals in the countric5 we sup￿TL The Ukraine fjjnd was collecltd through an apEKai for equipma)i / co￿uMable5 fi)r Ukrai InterllatioDal Cbiid Referral Proera]xm* Kc￿TICIed to medical lnlerventiotk￿ on over5e&s patients carrio1 Dut by UK and overseas IKYSPital& Medic21 Equipment for mi&8X)tt use: Restrictcd io tILc purLth￿ of specifi¢ medial c(]uiptDenL Thc Mcdical Equipment l fillml is restricted to the pu[Ch￿orMedical hardiydre equipmcnL Thc Mcdical Equipment 2 fillxl is restrictcd to thc purch￿ of medical ¢quipnent or cardiac collsumables. Overse4s Missions & DevelDpmentr Restricted to OV¢T5￿￿ rniSSiODS but rM)t allocated to a 5pwific country. Resources Gum fund is restricled to funding a W￿s1O￿ in the Mtddle East to tre* rdugcc childraL Tbe Heart Valve Repl*em¢rt fimd is restricled to the pwd)ase of heart valvcs. Equipment for Children's Surgery in ixtw¥)n is restri(led to fijnd equipmtht for childrni's surgery at Thc Hammond Hosptlal in Leimno Device to close a hole in the heart is ￿$trICted to PUrch￿C of a PDA devi Bair Hugger fillKI is ￿StriCted ￿ purchase of Bair Huggcr bA&thin￿. Fund a Medic41 Volunteer""s Flitht is restricted to purch&Ee flights for International Medical Volunteer Sponsor a Child from Gaza and their f8mily""s living expen￿ whilc waiting for surgery 15 rcstticted to supwrting families of Pttiicnts evacuated from lkn for dKir living expcnsc5. 34 CHAIN OF HOPE ]Yotes to The Winancial Ststements Forthe year eoded 31st M*reh 2025 14) Movwn¢llt Funds (eoDtinued) 2023124 Comparx¢iYes As at 31st M#reh 2024 Totsl FuDd A5 at 1st Apdl 2023 Totsl Fund In¢ominE resou￿eS & gains Outgoing Restricted fvnds: C0unryRel￿ed OversedsAdlth¢s Aswan I Asivan 2 Ethiopia Mi&sions and Development Jamaica Hardware Equitxnent Fund Rw8nda The Gambia Uganda Other 141.593 230.843 So.￿0 53.750 23&972 (191,447) (159,979) (50,¢MI) 309336 2.1KlO 180.554 540 10.918 2.393 10918 3.274 881 InÉernoliono1 ￿11dRefffral Child Funding 11&142 336.843 (452.985) PH Fund 400.0 {400,000) Methcal Equlpmni Medicat EqulpllL￿1 I Medical Equipment 2 267,573 35,788 5.139 271712 42J03 6.515 I)eVelopn￿lI Training Ukraine Mills amd ReevL8 Charitablc Trust 402.675 20.IKIO 1,840.628 loo,000 (1.998.767) 120,000 407 5.000 (S.0￿)) Totsl restrieted httds .866.886 2583.129 ,253W9 1196 976 Gener41 Funds 1.795,863 1.448,818 (818229) 2A26.452 Unrealised exchange gains Total ullrestri¢ted funds 108584 818229 Totsl ￿lld5 3.732012 35 CHAIli OF HOPE I*otes lo The Fioanci*l Statements For the y￿r ended 3151 Marth 2025 15) ALxlysis of net assets between funds Unrestrithd Restricted Totsl Fixed A Cash and cttrrent invcslmcnts Other current assets l (liabilttiC5) Total 76.482 2J69J65 82,781 3,107,968 18 133 3,OOL616 738.603 281.28 463ffj15 2541.001 2023n4 CompxTxIiYe5 Restricted Total Fixcd A&scts Cash and curmt inv￿1[u¢llts Other Cu￿eTrt l {liabIliti￿) Total 1gX)2 1512.498 19.637 2.535.1137 5.673 1.301J25 (110.023 l.A96 975 8.575 3.813.823 90.386) 3,732 12 16) R¢con¢ili•tion of net iDeome l (expettdilure) to Dtt Ilow from operating #divitse 2025 2024 Net (expenditure) l intome for Ibe reporting period (a5 per the statement offinaAcj￿ activilies) Deprcciation Int¢￿sE rent and dividends from invcstmcnts Decrease / (Jntte&8e) in st(Kk Decrease l (InLTthS¢) in ddjto (Decrease) / Increase in creditor5 Net eash (used in) I provided by oper¥¢ing acttvilJE5 (727.396) 5.075 (76.993) (191.398) (7,355) 294.500 (39.321) 3.947 (74.313) 155.191 45.221 17) Related party transa¢¢ivn5 A daughter of one of the Tru5tCCS is cmptoycd by the clwity utmler samc tCEm5 and coThlitions as a]1 other cmploye Chain of HO￿ is a eoTporate lrf)ard Merni￿ of Chain of Hope J8maic& tkning the yvdr Chain of Hope made g￿ts to Chain of HO￿ Jamaica towards the fmance support costs and satary costs of the Director. Progromme C04)rdinator and ￿ternal financc SUPEX>rt al[￿untIng to £35:403 (2023r24: £39,019). As ￿ the year end Chain of Hope Jamaicaowed £8..458 (2023t24: £Nit) lo the charity. Professor Sir Magdi Yacoub is a Trusicc ofthe Magdi Yacoub Heart Foundation and Chain of Hope. During the year payments w¢r¢ made to the Magdi Yacoub Heart Foundation amounting to £39,005 (2023124: £67.OIX)) in respect of the treatment of ¢hildr¢n under the Intert￿tiOnal Child Referral Prograrnm& £16&602 towards the training of Rwandan nurses a￿1 £196.785 (2023r24: £103,566) for surgical treatment of 30 (2023124: 18) Egyptiam children. £8.461 {2023r24: £164.449) of C￿sUM8b1¢ equiptttcnt ivas supplied to the Aswan Heart Centre. The Aswan Heart Ccntrc is managed by the Ma8di YKoub Heart Foundation. Ai the year end Chain of Hope owed the Ma8di Yacoth Hcart Foulldati(x1 £8,023 (2023124.. £17.129). 36