Charlty ragistratlon nUMr 1092772 Company rogistration number 04427304 (England and Walasl FACING THE WORLD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
FACING THE WORLD LEGALAND ADMINISTRATIVE INFORMATION Trustees Kalrin Kandel Burke-smith Florian Bast (Chairman) Simon Fennell Peter Schell Charles Schrager Michael Chan Anil Patel Richard Porter Peter Clarke Charlty number 1092772 Company numbor 04427304 Principal address Suite 5, Bank Chambers 567 Fulham Road London s IES Reglsternd offic Suite 5, Bank Chamber5 567 Fulham Road London SM 1ES Auditor Georgiades Charalambou & Co LLP 283 Green Lanes Palmers Green London N13 4XS Bankars CAF 8ank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ Bardays Bank UK PIC 1 Churchill Place London E14 5HP HSBC UK Bank Ple The Peak, 333 Vauxh811 Bridge Road London SW1V 1EJ Solicitors Bales Well & Braithwaile Cheapside Hous8 137 Cheapside London EC2V 6BB
FACING THE WORLD CONTENTS Page Tnjstees, report 1- 10 Independent audilovs report 11- 13 Statement of financial activities 14 Balance sheet 15 Slalernent of cash flows 16 Notes to the financial stalernents 17-28
FACING THE WORLD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual r8POrt and financial stal8mènls of th8 charity lolhenNise referred to as the foundalionl for the year ended 31 December 2025. The fillancial slalements have been prepared in accordance with the accounting policies set out in note 1 to the financial slalements and comply with the foundation's Memorandum and Articles, the Comp?nies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acGOUllts in accordance vilh the Financial Reporting Standard applicable in the UK and Republie of Iland (FRS 1021° (8$ amended for accounting periods commencing from 1 January 20191. Obj8ctiv8s and activitiOS Purposes and aims: The foundation's purposes as set out in the objects wntsined in the foundation's Memorandum of Assoeiati¢Jn are.. the protection and pres8rvalion of health and th8 relief of suffering, sickness, injury and distress, 111 particular of children with facial disfiguremenl.. and the advancemant of 8ducation and training, in particular in the treatment of facial disfiguiement. The aims of the foundation are lo build ¢apa¢ity for craniofacial treatment and care in countn.es where aecess to he8tthcare is limited In particular. they are to build appropriate treatment for those people from the developing worfd who suffer from facial disfigurement, through Ihe training and educating of local rnedical team5 in designated global centres of excellen. Finally, they are lo enable the establishmert of appropriate centres capable of providi Irealmenl and cr8ating a sustainable solutian. How tho foundatlon aehièvès its obj•ctivas: Facing the World's rnedical training programme in Vietnam has a slraighlforward strategy and an a55oeiatsd set of milestones. As w((h all training programmes. the business model and strategy are clear. By approaching the local Plastic and Craniofacial Surgery departments hofislically, the foundation alms to make a sustainable, measurable, and replicable change. The key lo SU$$ is the development of an effeefive wiQer Multidisciln8ry team within sp8cific units, incorporating for example oculoplaslic surgeor15, ENT tEad & neck surgoons. neurosurgeons. plastic surgeons. orthodontist maxillofacial surgeons and anaeslhelisls. As the focus is nol only on in-hospilal training, bLrt also on nebNorking, international conference exposure and the development of lo¢al educational resgurces. the foundation will benefit a greater numbèr of doctors and, through their actions most importantly, many more pab'ents. The business model continues lo be r?pli¢oble, and the foundab'on is confident that il ean continue lo build on the suc¢&ssful collaboration it saw in Da Nang and is seeing in Hanoi. The foundation achieves ils objective through the following activities.. Supplying Facing the Vvorld teams, whose members all donate their services to provide surgical treatment for patients with facial disfigurement. The abilty of Facing the Wodd lo achieve its objectives depends on the dedication and commitm8nl of a group of highly skilled medical volunteers. The medica Irèalmenls provided by Facing the World are complex, and Ihere are a limited number c)f experts worldwide capablè of providing such treatments to the required high standard of care. Establishing craniofaciaVpla$tic reconstrtjctive units in Vietnam, initially. Initiating formal bi-lateral training programmes in order lo build the skills of medical teams and ancillary professionals abroad. Activ8ly seeking lo train surgical teams abroad lo upskill" already compelenl octors in the lalesl techniques and skills in order to broaden th@ir caseload. CollaboTab"ng with partner doctors who wre and present papers on case$ in order to improve the understanding and treatment of these debilitabng conditions.
FACING THE WORLD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 En$urlng the foundation's work achieves ils aims: The foundation ieviews its a1m8, objectives and activities each year. The review considers the sucteS8 of e8Eh key activity and the benefits they have brought lo the intended beneficlaries of the foundallon's activitie5. The review also helps the foundation lo ensure that rts activities remain focused on the achievement of its stated purposes. In reviewing its aims and objectives, and in planning its fthurè aclivilies, the foundation opérates in accordance with the UK Charities Commission's general guidance on public benefit. In particular. as part of the review, the Irusleès consider how future plaTrned activities will Contribute lo the foundation's aims and objectives. Tho focus of the foundation's work.. Faan9 the Worfd's goal is to develop in-country units of expertise where patients from developlng countrfes who suffer from faaal defects ean receive appropriate tr&atment. The foundation has a network of intemational surgeons who are world leadeis in Iheii field. The focus of thè foundation's work during the 2025 financial year was lo increase the availability of in-counlry surgical treatment for children laboring under facial disfigurement through the continued oxpansion of the foundation's training programmes for doctors. Publlc Benefit The Charities Commission in rts Charities and Public Benefit Guidall requires that two key principles be mel to show that an organisation's aims are for the public benefit. FiT51. there must be an identifiable benefit. Second, the benefit must be to the public or a Section of the public. How the foundation delNers public benafit.. All of the activities of Facing the Wodd focus on increasing the availability of treatment for paients who suffer from faal disfigurement and are undertaken to further the found4lion's chaTil8ble purposes for the public benefit. Who bongflted from the services of Faclng tho World? Faung the Wortd wa5 established to help through surgical intervention patients who are born with Dr develop severe and often life-threalening facial disfigurement. The foundation wants more patients worldwide lo have aesS lo this vital facial surgery, and this can be a¢hieved by training doctors and ancillary professionals in the multidisciplinary approach required for successful development of craniofacial units. The focus has moved exclusively to Vietnam with the aim of creating a replicable approach which. in the longer term. ean be transferred to other countries and in time, other medical specialities. The tsuslees Confim that setting the foundation's objectives and in planning Its aetivities they have had due r8gard lo the Commission's guidance on public benefit. and that they will continue to ensure that eaGh year they consider how the foundation continues to meet the public benefit objectives outlined in section 4 of the Charities Act 2006 The Iruslees are satisfied that the foundation meets wlh Ihe requirements and conforms wh the Act's d8finition of a foundation, meeting all the key elements of the two key principles.
FACING THE WORLD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Aehiovomonts and porformanco During th2 year under review, the mlssions to Vietnam and fellowships lo the UK continued and the foundation mel its objectives as follows.. 1. Trèalment.. Over ten thousand patients were treated by our partner hospitals and dgctgrs in Vietnam during 2025. as the complex caseload continued lo grow. 2. Teaching.. 28 fellowships were hosted during the period. 3. Accreditation.. Th8 Royal College of Surgeons of England awarded FRCS ad eundem Honorary Fellowships to 4 key figures from partner hospitals in recognition of the exeellerbce of their surgical skills a major milestone in strengthening safe, high-qualily craniofacial surgical care. Accredilalion reviews conlinu8d wth 108 Military Central Hospital and Hong Ngoc General H05Pital. Viet.Duc University Hospital and 108 Military Centrol Hospital retained their International Accreditation status. Missions.18ctur•$ and other aetivlty In Vlglnam The foundation believes that in Ofder lo create a sustainable long-lerm solulion lo medical needs. ils resources are better used focusing on the training of doctors through medical rnissions and on offering tho yOg doctors fellowships lo top international institutions. This is achieved not only via lectures and training. but also through treatiThJ patiènts jointly with Vi8tname58 surgeons during missions lo build on knowledge sharing, supplementing the approaches seen on the fellowships provided by the foundation. Missions vary in size from the larger mLJlti discipline approach lo smalkr missions where the I(u$ is on one speciality. Mission size and topics are determined jointly with the lead being taken by the Vietnamese unil heads. The overall aim and approach remain the same.. upscaling the domests'c teams and units. During missions, patients are jointly assessed in planning clinics lo establish whether Surgery is their most effecty've option and, if so, how urgently il is rèquired. The clinicians also have the opportunity bj assess what skills are needed and who should form the team for the required surgical proceisures. As doctors from other hospitals throughout Vietnam are inviled lo observe, the foundation's reach is expanded. Mission activrties also include daily conferences on relevant topics_ Invl(alions are S8nl out lo the 10&strong network af Vietnamese partner hospitals. This coordinated approach continups to b¢ one of the key elements for the establishment of effective craniofocial surgery. Ongoing ass@ssments are continuously being carried out in order to establish the range ol surgical specialrtie5 required for ftjrther mullidisoplinary craniofacial teams., the types of missions needed ID support development as well as the type of crilical technology required lo enhance capabilities and effioency al partner hospitsls. In 2025, the following missions were held in Hanoi.. 1. Mission. 28 th March- 7th April 2025.. 2. Plastic Surgerylcraniofacial Mission, 15th- 29th October 2025,. 3. Mr. Atheef UjaTll Maxillofacial Mission, 23rd- 28th November 2025. The following confer&nces were held as part of the ongoing programme.. 1. Ear, Nose & Throat (ENTI Masterclass Conference 31$1 March- 1 stApril 2025,. 2. The Facing the Wodd - 'Fa¢ing the Functional. Oncological and Aesthetic Chall8nges Within the Head and Nedt. ConfererKe- 18th - 19th October 2025., During a State Visit 28th - 30th Oclobgr 2025 by seclary General Mr To Lam and First Lady Madame Ngo Phuong Ly, F8cing the World was adively involved in both public and private mè8tsngs and received extensive national press coverage.
FACING THE WORLD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Cllnic Actlvlty Mission dinic5 were held al our partner hosprtals throughout 2025. Examplgs of theatre activity: Debulking of neurofibroma Ear reconslrudion EXS1On of vascular malfomiation hea(Vneck Fixation of facial traGture Pl&xifom neurofibroma left face Bilateral facial cleft Lymph8liG malfotrnaliDn submandibular region Debulking of vascular malfomialion - fac8 Cleft rhinoplasty Serial excision of facial CMN Burns contracture rèlease Insertion of tissue expander headlneck Fixation of facial fracture Collaboration and coopeTation The foundation further stiengthened ils network in Vietnam by continuing working rel81ionships with both Ihe UK Embassy in Hanoi, and the Vietnamese Embassy in London, successfully extending PACCOM registration, an by continuing to be both strategically and financl8lly 5UPPOrted by the loundation's Vietnames6 patron Dr Nguyen Ngoc Vinh MD, CEO and C(FFtsunder of Hong Ngoc General Hospital. The foundation also signed 2 Memorandum of Understandings, 1 between Vietnam Airlines and FaGing the Vvorfd and another between VEjel and Facing the World, supporting future collaboration and logistics for medical missions. Facing Wodd had the honour lo host Secretary General Mr To Lam on the October Slate Visit lo the UK. The foundation has suttèssfully eonlinued to intensify ils collabor8tion wth 811 ils exist[r parther hospitals in Vietnam in the further training of Iheii Plastic and Craniofac4al Surgery Departments, with the ultimate goal of establishing multiple eraniofadal eenlres Vletnam. Fèllowshlp Programme This programme funds Vietnamese doctors and managemènt from the partner hospitals in Metn8m lo particlp8te In tailor-made fallowship5, hosted in the UK, Canada, Australia and the US, where they observe a range ol complex craniolacial cases Irealed within the UK I US I Canadian l Australian system using a MldiSGIpllnary approach. The original intention was lo bring four doctors a year to the UK. Thè suceess of the programme and the demand fram the doctors in Vietnam has been so significant that the fellowship programme was acc£lerated and continues lo grow. Throughout 2025 the foundation hosted 28 fellowship5 and has already begun planning for 2026. The fellowships build on the teaching and training of the missions and vice versa. The fellowship programme is the kjeal vehicle for the foundation lo easily establish relationships wth more hospitals in Vietnam and at more hostilals in the UK and inlernalionally and the programm8 is key lo the overall success. Fa¢ing the Warld's Approach to Sustainablo Doyolopmenl The United Nations Sustainable Development Goals are a sel of 17 Intertinked objectives designed to be a 'blueprinl to achieve a better and more Sustainable future lor all" We believe the work of Faeing the Wodd can play 8 role in achieving Ih8s8 goals Ihrough fostering direct benefit toward5 Good Health and Well-Seing (Goal 3). Qualty Educotion (Goal 4J gnd Reduced Inequalities (Goal 10) as well as making indlrect contribullons to a number ol the olher targets.
FACING THE WORLD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Financial reviow The results for the period are sel out on Page 14 During the year under review, the foundatiL>n generated total rovenues of £742,108 (2024.. £530,813). Of this amount, £742.10612024. £500,813) related lo general lund income. The foundation did not re1ve any reslrided revenues in 2025 12024." £30,0001. Total revenues include donations in kind lincluding significant commercial discountsl valued al £524,04812024.. £331,745) for flights and aCmMOdatIon for surgeons attending Missions in Vietnam. for fellows travelling to the UK for training and also for conferences held in Vietnam. The increase in Tevenue compared lo the previous accounting period was £211,293 and this was mainly due to the increase in gift In kn.nd donallons. General fund expendrture (including in kind donations and significant commercial discounts) was again kept under control. Monies spent on charitable activities lotslled £726,776 12024.. £539,919). equivalent to appr0MatelY 940A of total expenditure. General furKls show an excess of income over expenditurè lotalling £13,801 {2024'. excess expenditure £32,626I. Al the year-end date the foundation held £387,663 in general funds. Restricled funds show an excess of expenditure over income lotalling £43,99612024'. £25,938) and this wa5 due to timing drffeiences in tems of receiving and expending the funds At the year-end dale the hundation held £48,120 In restricted funds and il èxpects much of this will be spent in the ensuing year. The foundation Gonlinues its policy lo relain and designate part of its general ftds as agreed by the trustees {see below). R8sgrvès policy The truslees continue lo adopt a reserves policy based on an assessment of thè risks faced by the foundation and have directed £175,000 of general reserves lo a designaled WOT*ing ¢aprtal fund so that unrestricted funds not committed or Invested in tangible fixed assets held by the foundation are suffioent lo sustain the foundation's eslimaled basi¢ costs for a period of up lo six months. This wlicy is regulady r8Vi8W8d. The trustees are also satisfied that the designated fund currently holds suffiaenl resaLle$ in respect of the urrent reserve policy. Prlncipal funding sour¢•s The princip81 funding sources of F¥King the World have traditionally been individual donors, charitable trusts, large multinational corporations, financial organisations, and the foundation's patron and long-lerTN sponsor Dr Nguyen Ngoc Vinh MO, CEO and CckFounder of Hong Ngoc General Hospital. During the 2025 financi81 year, these donors have continued lo contribute a significant portion of the foundalicin's funding. The remaining donations were received from the foundation's many other generous supporters. Inv&$tmont policy Given the nature of the foundation's work, funds need to be readily accessible to cover emergency medical treatment. Therefore, most of the foundation's funds are kapt in highly liquid ir¢strumenls, principally bank accounts. The foundation recognises that it needs to consider a larger range of altemalive liquid investment options and therefore plans a review of it5 investment policy early in the next finanaal year.
FACING THE WORLD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 R15k pollcy The board of trustees regularly rèviews the risks to which the foundation is exposed and has eslat4ished monrtoring prOdreS to understsnd and mitigate those risks. The foundation has a Tisk registry readily available and regularty r?viewed. The principal risks derive from, but are not limited lo. the nature of work undertaken by the foijndation in pursuit of ils objectives. For example, Facing the Wortd conducts high risk surgery. Wlh each patient that il treats there is the potential for complications to emerge during treatment which can cause anlicipaled costs to increase rapidly. In Cfder lo mitigate this risk, patients, legal guardians give their formal consent that they will not hold Facing the Wortd liable should there be any complications arising from surgery and the medical team all have their own pers(al liability insurance. Furthermore, all patients treated are patients of the Vietnamese hospita15 and doctor5 They do not beme patients of Fa¢ing the World. In addition, given the highly specialised nature of the procedures undertaken by Facing the Wortd. there are very fwi medical professionals who are sufficier7tly qualified to undertake this WOTk. Should ils existing volunteers no longer be able lo provide medical treatment Mlhout charge, the foundation would face a major obstacle in delivering ils charitable objectives. To manage this risk, thè foundation is actively trying to recruit addition qualified rnedical volunteers and international medical units to expand the capacity of the team. Fundralslng practlces The foundation has been a mernber of the FundTai5ing Standards Board since October 2013 up until the FSB'S merger with the Institute of Fundralsing and the creallon of the Fundra15ing Regulator in 2016 at which point Facing the w¢) became a regisleTed member of the Fundraising Regulator. Rggulatlon Facing the World adheTes lo the Instrtute of Fundraising's Code of Prath"ce, standards and the requirements of the Fundraising Regulator. The foundation is registered with the Fundraising Regulator and is committed to mplying wth all new regulatory standards. The foundation has had no Fundralslng Regulator adjudications and has had no slgnllicanl failures to comply th these standards. Facing the Wodd review compliance through audit, active monitoring of feedback, and taking corrective action when required. Standards and monitoring Facing the World is committed to following the highest ethical stsndards arKI lo ensuring a quality supporter experience. The founllalion has detailed policies and procedures in place that in many cases go beyond the minimum requirements for the sector. Performance is regularly monitored through a range of methods le.g. seed 115ts, regular internal audits). Trustee meetings and fundraising discusslons ensure that all Faung the World fundraisers. and those who work on the foundatiL's behalf, are aware of, and are adhering lo, its hÈgh standards. Complalnts In line with the Fundraising Regulator rules, the fDundatlOn 15 required lo report any complaints on a calendar year basis. The trustees are pleased lo note that there were no complaints received for the year under review.
FACING THE WORLD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Managing ¢ommunl¢atSons Most P80ple who donate money lo the foundation want lo know how their money will make a difforence. So, the foundalion asks whether thèy would like lo be kept in touch with and updated on the charity's work and how they have helped. From time lo time, the foundation will ask whether they would like to support the WO fijrther - for example, by increasing their donation5 or by taking part In a particular ovent. Supporters are polled for their preferences on how the foundation communicates with them, and they are given the option to let the foundation know if they would prefer less contact, or none al all. Facing the Worfd is always respectftjl of their wishes and does not sell OT exchange lists of data with other charities or Eompanies for marketing or fundraising purposes. The foundation is fully compliant with the recent GDPR regu18tions and has put in plac8 all the approprialo policies. Protecting the public All Facing the World fundraisers receivo detailed training in how to identify and protect people in vulnerable eireumslances. If the foundation fundraisers èncounter someone showing signs of distress, confusion or vulnerability, they are trained lo politely end the conversation 8nd refuse any donab'on offer8d in such circumstance5. In the unlikely event of a donation being taken in such circumstances. the donation would be refunded. The fOUr8ton has never had an occasion where this has happen8d. Plans for the future The foundation plans lo continue the activities outlined above in the forthcoming years, subjecl lo satisfactory funding arrangemen15. For the ensuing year, plans have been pul in place and are being further devdoped in order lo increase the number of patients who can benefit from 115 services, wllh thè focus exclusively on the Vietnam Programme. In particulaT, the foundation plans lo extend training of medical professionals and the d8velopmenl of replicable sustainable in-counlry plastic and nIafala1 units in order to levorage as effèctively as possible the skills of medical volunteers. The foundation has broadened and deepened it5 acce55 to volunteer medical experts, and this now includes the majority of top designated centres in the UK, USA and Canada. Progr8mmes in these hospitals can prowde high quality services and training lo Vietnamese dDCtOTS through the extensive fellowship programme thus enabling treatment for the wdest range of patlenls in need. StNcturo, govgrnancè and manag8mont Gov¢rnSng documont Facing The World is a Charitable Company limited by guarantee, incorporated on 30th April 2002 and registered as a charity on 3rd July 2002 Icharfty number 10927721. Faung the Wodd wa8 established under Memorandurn of Association stating the objects and powers of the Charitable Company and is govemed under itsArticl8s of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the finarKial statements were.. Katrin Kandel Burke-smilh Florian Bast (Chairman) Simon Fènnell Peter Schell Charles Schrager Michael Chan Anil Patel Richard Porter Peter Clarke Christopher Forrest Norrna Timoney {passed away 2 March 20251 (Appointed 12 November 20251 (Resigned 12 November 20251
FACING THE WORLD TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Re¢ruitm•nt, appolntment and tralnlng of trustaas Trustees are appointed based on their ability to apply knowledge and skills which are useful for the ongging succèss of the foundation. Potential trustees are identified by existing board members. Once suitable candidates have been agreed they are invited to allend a board rneeting as an observer. If they remain interested in becoming a trustee, the serving board members vole on their nomination. If opproved, they are formally inwted lo become a trustee by the chair of the board. Once appointed, new trustees are provided with a brief history of the foundation, the foundation's goveming documents and minute5 of trustees rneeling5 from the previous twehje months. None of the trustees have any beneficial interest in the Charitable Company. All of the trustees are nembers of the Charitable Company and guarantee lo contrlbule £1 in the event of a windlng up. Terms for trustogs The trustees look advice from the foundation's legal advisors and unanimously ratified 3-year fixed temis for all Iruslees with the possibility of reappointment. Members of the existing board have also agreed 19 Staggered 18rrns over the next three years. Al new trustees will have terrns of three years from their date of joining. Organlsational structure The board of trustees is responsible for the foundation as set out in the Articles of Association, with day-to-day adminislralion and management perfomied by the office staff with a¢live board of Iruslees participation. The board of trustees meets qkjarterly to make decisions with r8gard lo the financial, slralegic and programmatic operations of the foundation. The foundation has continued lo operate without a salaried CEO during 2025. Kalrin Kandel Burke Smith Ilrusteel corrtinued to undertake this iole a voluntsry and unpaid basis. Tho boar(I has established Iwo sub-committees lo ensure the smooth running of the foundation. The first sub- committee (Finance and Audit Commitleel is responsible for making financial and strategic recommendations lo the board. The second (Medical Commilleel is responsible for making medical recommendations lo the tKJard. An informal all-inclusive Medical Committee nelwork biannual meeting has been established lo fa¢ililate a forum for exchange of ideas_ Declsions relating lo the loundalion's medical actlville5 are founded on consullalion between the team of medieal volunteers and the board of trustees, taking into aceounl &thies and govemmenl legislation. Finaneial decisions requiring a commitment of greater than £10,000 require the authorisalion of the board ol Iruslees. Issues related lo strategic planning and plect devèlopment are also discussed with the board of Iruslees al ils quarterly meetings, with any decisions ifnplemented by the office 5taft in conjunction with the board of trusteès.
FACING THE WORLD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Relationshlps wlth olher organisations Facing the World maintain$ a number of successful relationships wlh a range of organi58tions. These include many of the major UK, USA, Australian and Canadian hospitals. Fellows wl)o are brought over from Vieknam have the opportunity to observe the appropriate technique5 and approached al, for example". Toronto HospilaS for Sick Children. Great Ormond Street Hospltal, Birmingham Children's Hospital, Charing Cross Hospital, St George's Hospital. Chelsea & Weslminsler Hospital, Sl Marys, Evelina, Northwick Park, Moorfields, Alder Hey Children's Hospital, Liverpool. UK,. Seattle Children's H05pilal, USA, and Adelaide Women and Children's Hospital. Australia. The UK DifficLJII AinNays Soclety (DASI has become involved wrth the foundation and ils efforts lo supply Iroining for Vietnamese anaesthelists in the area of Difficult Airways management. DAS agreed lo sprSOr Vi&tnamese anaesthetisls lo attend the Difficult "lwayS Conferences. Their board has also used their UK network to offer more training opportunities for the Vietnamese doctors. In V1elnam, the foundation works With the 51ale, military anLI private sectors. These indude close relationships wf(h Viel-Du¢ University Hospital, Hong Ngoc General Hospital, Da N8ng General Hospital and 108 Millary Cèntral Hospital as well as theii respective networks of hospitals throughout Vielnom. These are key partners In the foundation's overseas training programme as appiopriale cenlres of surgical excellen¢e are established. Faung the World has contscts wth a number c>f other medical charities and other organisations who are sometimes beller plaeed lo provide treatment for some of the patient referrals received. These orgarisalions indude among others,. the NIHI NCI, the Wietnam Red Cross, Siloam Christian Ministri8s, Children of Vietnam, Children in Crisis, Uganda Hands of Hope and Asociacion Afgentina de Neurofibromolosis. Key neknrking partnerships help Facing the Worfd to provide quality care lo as many of those patients in néed. Statpment of Irust•o5' responslbllltlos The trustees, who are also the directors of Facing rhe World for the purpose of company law, are responsible for preparing the Trustees. Report and the financial ststemen15 in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted A¢counting Practice). Company Law require5 the Iru51ee5 to prepare financial slalemenls for each financial year which gwe a true and fair view of the slate of affairs of the foundation and of the incoming resources and applicatson of resources, induding the income and expenditure, of the charitable company for that year. In preparing these finallcial statements, th8 trustees are raquired lo.. seled suitable accounting policies and then apply them consistently., observe the rnelhods and prinaples in the Charities SORP., make judgements and estimates that reasonable and prudelll". state whelhor applicable UK Acc04Jnling SlandarLls have been followed, subject lo any material departures dis¢losecl and explained in the f5nancial statements., and prepare the financial slalements on the going concern basis unle88 it is inappropriate to preSn that th8 foundation will continue in operation. The trusteès ar8 responsible for keeping adequate accounting records that disclose wlh reasonable accuracy at any lime the financial position of the foundation and enable them to ensure th8t thè financial statements comply with the Companies Ad 2006. They are also responsible for safeguarding the assets ofthe foundatian and h8nc8 for tsking reasonable steps for the prevention and detection of fraud and other irregularFties. The Iruslees are responslble for thè maint8nancè and integrity of the corporate and financAal infomalion illeluded on the foundation's website. Legislation in the United Kingdom governing the preparation and dissemnalion of financial stalernents may differ from legislation in olherjuri8didion$.
FACING THE WORLD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2025 Auditor In accordancè th foundation's articles, a resolution proposing that Gèorgiades Charalambou & Co LLP be reappointed as auditor of the foundation will be pul at a General meeting. Dlsclosure of infomiation to auditor Each of the Iruslees has confirmed that there is no infomiation of which they are aware which is levant to the avdit, but of which the 3LJdilor is un8ware. They have ftJrthÈr confimied that they have taken appropriate steps lo identify such relevant information and lo establish that the auditor is aware of such information. Tho trustees, Report was approved by the Board of Trustees. Florian Bast (chaimnI Trustee Dated: 1D-
FACING THE WORLD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FACING THE WORLD Opinion We have 8udited the financial sta18ments of Facing The Worfd Ith8 'foundalion'l for the year ended 31 December 2025 which comprise the statement of financial activities. the balan sheet. the slalernent of cash flows and the notes to the financial stalemenls, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Financial Reporbng Standard applicable in the UK and Republic ol Iraland (United Kingdom Generalty Accepted Accounting Practice). In our oplnlon, the financial stalements". giv8 a true and fair view of the 51ale of the charitable company's affairs as at 31 December 2025 and of its incoming resources and apIcatIon of resources, induding ils income and expenditure, for the year then ended", have been property prepared in accordance wrth Unitad lfjngdorn Generally Accepted Accounb"ng Practic*" and have been prepared In accordance with the requirements of the compani Act 2006, Basis for opinion We conducted our audit in acGordanGe wth Inlernaiional Standards on Audiling IUKI (ISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs rèsponsibilitiss fr)r th8 audil DI the financial statemgnls section of our report. We are independent of the foundation in accordawe wth the elhi¢al requirements that are relevant lo our audit of the finanal statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. W8 b81iev8 that the audit evideno we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial ststements. we have conduded that the trustees. use of the going Conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not Idents"lied any material uncertainties relating to events or conditions that, individually or ¢olle¢tively, may cast signfficant dDubt on the foundation's ability to continu& as a going concem for a pericxj of at least Iwelve months from when the financ4al statements are authorised for issue. Our responsibilib.ès and the responsibilrties of the trustees with respect lo going concern are described in the relevant sections of this report. Othgr Infomiatlon The other information comprises the infotmation included In the annual report other than the financial statements and o(Jr auditorfs report Ihereon. The Iru51ees are Tespon5ible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly stated in Dur report, we do not express any foim of assurance cgnclusion thereon. Our responsibility Is to read the other information and. in doing so, censider whether the other infoimation is materially inconsistent with the financial statements or our knowledge obtainèd In the eourse of the audit, or othernise appears lo b8 materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whèthér this gives rise lo a material misslalement in the financial slalemenls thèmselves. If, based on the work we have perforTned. we conclude that there is 8 material misslalemenl ol this other information, we are reqtjired to report that fact. We have nothing to report in this regard. Oplnlons on other matleTS pre5rribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the infomialion given in the truslee5' report for the finanGial year for whith the financial slalemenls are prepared. which indudes the directors, report prèpared for the purposes of company law. is consistent wlth the financial stslements., and the directors. report induded within the trustees, report ha8 been prepared in accordance with applicable legal requirements.
FACING THE WORLD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FACING THE WORLD Matters on which we are required to report by èxception In the light of the knowledge and understanding of th8 foundab'on and its environment obtained in the cours8 of th8 audit, we have not identified material misslatemenls in the ¢Jire¢tors' report induded within the trustees, report. We have nothing lo report in SpeCt of the following matter8 in relation to which the Comp8nies Act 2006 requires us to report lo you rf, in our opinion." adequate accountsng records have not been kept, w returns adequate for our audit have not been reGeived from branches not visited by us.. or the financial statements are not In agreement with the accounting records and relums", or eertain disclosures of Iruslees, remuneration specified by law are not m8de,' or we have not received all the inforwalion and explanations we require for our audit,. or the Iruslees w@re not entitled lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies. exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. Re5pon5ibilhie5 af trustee5 As explained more fully in the statement of trustees. SponSibl11t1es, the Iruslees, who are also the directors of the foundation for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such inteinal control as the trustees determine is n8C@ssary lo enable the preparation of financial slalemenls that are free from material misslalement, whether due to fraud or error. In preparing the finanaal slatemenls, the trustees are responsible for assessing the foundation's ability lo continue as a going wncern, disclosing. as applicable, matteTS related lo going concarn and using the going concern basis of accounlirbg unless the trustees either intend to liquidate the charitsble company or to cease operations. or have no realisti¢ altematr've bul lo do so. Auditor's r•sponslbllitl•s for the audlt of tho flnan¢lal $tatoments Our objectives are lo obtain reasonable assurance about whether the financial statements as a Who are free from material misststemenl, whether due to fraud or error, and lo issue an audilorfs report Ihal includes our opinion. Reasonable assLJrance is a high lèvel of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misstslemenl when it exists Misstalemenls can arise from fraud or èrror and are considared material rf, individually or in the aggregate, they could reasonably be expected to influen the economic decisions of users taken on the basis of Ih8s8 financial statements. Irregularities, induding fraud, are inslances of non-compliance wilh18WS 8nd gL118t10nS, We d8sign procedures in line with our responsibilth"es, outlined above, lo detect material misstatements in respect cf irregularities, including fraud. The 8xtent to whlch the audit wa5 considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of materi81 rnisststémenl in respect of irregLJlaritl8s, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate cornpeten, pabililies and skills to identify or recognise non-compliance with applicable laws and regulations., • we identified the laws and regulations applicable to the fjndaIi0n Ihrgugh discussions with Iruslees ar other management, and from our knowledge and experience of the Charity sector., • we focused on specific laws and regulatlons whid) we conSided may have a direct material effect on the financial ststemenls or the operations of the foundation, including the Compani@s Act 2006, Charities Acl 2011, taxation legislab.on and data protecb"on, anti-bribery, employment health and safety legislation- we assessed the extent of compliance wth the laws and regulations identified above through making enquiries of management and inspecb'ng legal correspondence.. and identified laws and regulations were communicated wrtttin the audit team regularty and the team remained alert to Instan of non-cornpliance throughout the audit. 12-
FACING THE WORLD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FACING THE WORLD W8 ass8SS8d the susc8ptibilty of the foundation's financial slalemenls lo rnalerial misstatement, including obtsining an understanding of how fraud might OCCUT, by.. making enquirie5 of managernent as lo wheTe they consldered the was susceptlbillty to fraud, their knowledge of actual, suspected and alleged fraud,. and cOnSering the intornal controls in place to miligale risks of fraud and n0n.compl1ae wth laws and regulations In response to the risk of irregularities and non-compliance with laws and regtjlations, we designed procedures which Included, bul were not limited lo.. agre8ing financial sta16ment disclosuT&S to undertying supporting documentation,. • reading the minutes of meetings of those charged wth governan, enquiring of management as lo actual and poten1181 liligalion 8nd claims,. and reviewing correspondence with HMRC. relevant regulators including the ¢harily rK)mmission. fundroising regulator and the foundation's legal advisors. To 8ddress the risk of fraud through management bias and override of controls, we". perfomed analytical procedures to identify any unusual or unexpe¢ted relolionships., tested journal entries to identify unusual transactions,. assessed whether judgements and a55umplior15 made in determining the accounting estimates set out in note 2 were indicative of potential bias". and investigated the rationale behind significant or unusual Iransaclions. There are inherent limilalions In our audit procedures desuibed above. The more MOVed that laws and règulations 8re from financial transactions, the less likely it is that we would cOMe aware of non-compliance. Auditing standards also limit the audit procedures required lo identify non-compliance with laws and regulations to enquiry of the ttuslees anLI other managemènt and the inspection of regulatory and legal correspondence. if any. Material misslalements that arise due lo fraud Can be hard&r lo detect than those that arise from error as they rnay involve deliberate concealment or ¢ollusion. A further description of our responsibilities is available on the Financia1 Reporting Council's websitè al.. httpsjl www.frc.org.uklaudilorsresponsibililies. This description ft)rms part of our auditorfs report. Masud Abdul-Karim (Sanior Statutory Audilorl for and on behalf of Goorgiades Charalambou & Co LLP Chartered CertifiÈd Accountants Statutory Auditor 283 Green Lanes PalffleT5 Green London N134XS 13
FACING THE WORLD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Restricted funds funds 2025 2025 Total Unr6strlcted Rèstrictad funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Investments 741,256 850 741,256 850 497,582 3,231 30,000 527,582 3,231 Totsl income 742,106 742,106 500,813 30,000 530,813 Exponditure on: Raising funds Charitable activities 45,725 682,780 45,725 726,776 4g,458 483,S81 49,458 539,919 43,998 55,938 Totsl gxpenditure 728.505 43,998 772,501 533,439 55,938 589,377 Net incomelleypendlture) and movement in funds 13,601 143.9961 {30.3951 132,626} 125,9381 158,5641 Roconciliation of funds.. Fund balances at 1 January 2025 354.062 92.116 446.178 386,688 118,054 504,742 Fund balancès at 31 December 2025 367,683 48.120 415,783 354,062 02,116 446,178 The statement of financial aclivities includes all gains and losses recognised in the yaar. All income and expenditure derive from continuing actiwties. 14-
FACING THE WORLD BALANCE SHEET ASAT 31 DECEMBER 2025 2025 2024 Notss Flxad assgts Tangible assets 373 893 Current a$sgts Debtors Cash al bank and in hand 13 7,727 435.858 6.617 460,414 443,585 467,031 Creditors: amounts falling due within one year 14 128,1751 121,7461 Net eurrent ass•ts 415,410 445,285 Total as$ets16ss cuffent Ilabllltles 415,783 446,178 The fund5 of the foundatlon Restricted income funds Unr@stricied funds 16 48,120 367,663 92,116 354,062 415,783 446,178 The financial statements were appioveLI by the tru51ee5 On . Florian 8a5t Ichaitmanl Trustee Company registration nurnber 04427304 (England and Wales) 15-
FACING THE WORLD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Nots$ Cash flows from operatln9 activities Cash absorbed by operations 22 125,406} {66.713} Invgstlng adlvltb9$ Investment income received 850 3.231 Net cash gonerated from Invgstlng actlvltlas 850 3,231 Nèt cash usod In tinanclng a¢tlvlti•$ Not docroas8 in cash and cash equivalents (24,5561 {63,482} Cash and cash equivalents at beginning of year 460,414 523,896 Cash and cash 8qulvalents at end of year 435,858 460,414 16-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Acceunting policles Charlty Infomiatlon Facing The Wodd 18 a private company limited by guarantee incorporated In England and lthle8. The registered office is Sulte 5, Bank Chambers, 567 Fulham Road, London, s 1 ES. 1.1 Accaunting Convention The financial slalemenls have been prepared in accordan with the foundation'5 Mefflorandurn and ArtIGles of Associab"on, the Companies Ael 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. l°FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chaiilies prepaiing their aGcounts in accordance with the Finaneial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021" leffeclive 1 January 20191. The foundation is a Public Benefit Entity as deffid by FRS 102. The financial slalemenls are prepared in sterfing, which is the fvnctional currency of the foundation. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention with items recogni al cost or transaction value unless olhe)wise slated in the r818vanl not8lsl lo thése accounts . Th8 prinapal aGcounling policies adopted are sel out below. 1.2 Golng concem At the b.me of approving the finanoal stalemenls, the trustees have a reasonable expectation that the foundation has adequate resoLJrces lo continue in Operational existence for the next 12 months from the dale of approval of the financi81 slalements. Thus the trustees continue lo adopt the going concern basis of accounting in prepanng the financial slatemenls. With ward the following year, the most significant areas of uncertainty of the foundation are the level ol donation income which needs to be raised èach and every y8aT and is covered in more detail in the perfomiance and risk sections of the trustee's report for MO infomiation 1.3 Charitable lunds Unrestricted funds are available for use al the discretion of the trustees in furthence of their charitable oty'ectives. Designated funds are unrestricted fvnds of the foundation which the Irust&s have decided al thtir diserelion to sel aside to use for a specffic purpose Reslricled funds are donatitsns which the dDntsr has specified are lo be solely used for particular areas of the foundation'5 work or for specific projeds being undertaken by the foundation. 1A Incomg All incoming resources are recegnised once the foundation has entitlement to the resources, it is certain that the resource will be received and the monetary value c>f incoming resources can be rneasured with sufficient reliability. Incoming resources are reported before expenses. Incoming resou[S represent Income generate from the founéation's ordinary activities which were continued throughout the year. Donatlons and legacies Voluntary income includlng donatlons, glfts, legades or grants from various individuals, corporations and aritable foundations ale recognised where there is &ntitlem&nt. certainty of receipt and where the amount can be measured with sufficient reliability. Such income is only ofelerred whern.. The donor specifies that the grant or donation mu81 only be used in future accounting periods. The donor has imposed conditions which mu51 be met before the foundation has unconditional entitlement. 17~
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting poli¢l•s IC¢ntlnu¢d) Ftsr 5eg8cles, entlement is taken on a case by case basis as the earller of the date on which." the foundation is aware that probate has been granted, the estate has been finalised 8nd notification has been made by the exeGutor(sl to the foundats.on that a distribution will be made, or when a distribution is received from the estate. Donated goods and seThi¢oS DDnaled facilities are recognised as income when the foundalion has control over the item. any conditions associated ¥Mth the donated ilem have been met, the raceipt of economic benefit from the use by the foundation of the item is probable and that economic benefit can be measured reliably. No value is placed on donated facilities received where the OnOMiC benefit cannot be measured reliably due lo lack ol infomiation generally and drfficulty in d8t8miining and mèasuring thè mark8t value of the SUPPOrt given. No value is placed on the donated professional medical services received as the econornic benefit cannot be measured reliably du8 to lack of infomialion generally and difficulty in determining and measuring the market value of the support given. here the found81ion is able to negotiate and $8cur8 substantial discounts for supplies Of equipment or other services on terms outside normal commercial arrangements, the difference 1$ recognised as a donated gift in kind. Volunteers No value is plac on volunt88rs who provide assistance to th8 foundation. In¢¢me from Invg$tment Interest on funds held on depgsit 15 included when recpivable and the amount can be measured reliably by the foundation.. this is normally upon notification of the interest paid OT payable by the bank. Govornment grants Govarnmenl grants are recognised at the fair value of the asset received Dr receivable when the is r8asonable assurance that the grant conditions wi11 be mel and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are rllel. Where a grant does not specify performants conditions il is recognised in ineome when the pr¢eeeds are received or receivable. 1.5 Expgnditure Expenditure and irrecoverable VAT Expenditure is recognised On there is 8 leg81 or constructive obligation lo rTake a payment to 8 third party, it is probable that selllement will be requirecl and th6 amount of the obligation can be measured reliably. Expendrture is classified under the following activity headings.. Cost of raising fund5 are those costs incurred in attracting voluntary inCOTne, in particular grant funding, and the costs of maintaining the foundation's profi within the sector. Expenditure on Charitable activities includes all direct costs incurred relating lo pab.ent care and to training aclivilie5, together w4th a550ciated 5UPPOrt cosls. other expenditure represents those items not falling into any other heading. Irrecoverable VAT is eharged as a cost agalnsl the activlty for lthlch the expendllure was Incurrèd. Support costs Support Costs are Ih05e function5 that assist the wotk of the fourbdalion but do not direcuy undertake charitable activitiès. Support costs include back office costs, finance, personnel, payroll and governance costs which support the foundation's activitiès. These costs hav6 been allocated between cost of raising funds and expenditure on Eharilable activities. The bases on which support Eosts have been allocated ar8 set out in note 18
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AGGounllng pollcles Icontlnuodl 1.6 Tangible fixed assot5 Tangible fixed assets a initially measured at cost and subsequently measured al cost or valuatton. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Fixtures fittings Computers 25% straight line b3SIS 33% slraighl line basis 1.7 Impairment of fixed assets Al each reporting end date, th& foundation reviews the carrying amounts of ils tsngible assets to detemiine whether the is any indiGation that Ih05e a55els have Suffered an irnpaiimenl loss. If any suGh indiGalion exists, the recoverable amount of the asset is estimated in order to delemiine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and ¢ash equiva5enls include cash in hand, deposits held al call with banks, other short-lemi liquid investments with original matunties of three months or less, and bank overdrafts. Bank overdrafts are shown within bOrrong8 in current liabilities. 1.9 Financial Instruments The foundation has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Seciion 12 'Other Financial Instruments Issues, of FRS 10210 all of ils finanual instruments, Financial instruments are recognised in the foundation's balance sheet when the foundation becomes paty to the contractua1 provisions of the inslrLJmenl. Finanual assets and liabilities are offset, wlh the nel amounts prosenled in the finanaal slalemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. Baslc financial assets Basic finanaal a8sel8, which include debtors and cash and b8nk balances, are initially measured at transaction price including transacliun costs and are subsequently carried al amortisad cost using the EffeGtive interest method unless the arrangement Conslilules a financing transaction. ere the transaction is me£suréd at the present value of the future receipts discounted al a market rale of interest. Financial assets dassrfied as receivable wi(hin one yeai ate not amortised. Basic financial liabilities Basic financial liabilitie5, including creditors and bank loans are inili8lly recogni5ed al transaction pri unless the arrangement constilules a financing Iransaclion, where the debt instrument is measured at the psent value of the fvture payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Trade creditors are obligation5 to pay for good5 or services that have been acquired in the ordinary cOue of operations from suppliers. Amounts payable are elassified as current liabilities if payment is due within one year or less. If ngl, they are presented as non-ojrrent liabilities. Trade creditors are reco9nised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting poll¢l8s Icontlnued) 1.10 Employee bènefits The cost of any unused holid8y entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the foundation is demonstrably committed to lerminale the employment of an employee or lo provide lerminaty'on benefits. 1.11 Retirement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Foreign exchange Assets and liabilities in foreign currencies are tran51aled into sterfing al the rates of exchange ruling at the balanGe sheet dale. Transactions in foreign currencies are translated into steding at the rate of exchange ruling at the date of transaction. Exchange diflèr8nc8s are taken into account in arriving at the nperating result. Critical accounting estimates and judgements In the application of the foundation's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sourc8s. Tha 8slimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Th8 8stimat8s and und@dying assumptions are reviewed on an ongoing basis. Revisions ID accounting estimates are re¢ognised irb the peTiod in which the estimate is revised where the revision affects l[Y that period, or in the period of the revision and fLrture periods where the revision affects both current and future periods_ Incomo from donations and 1ogacl•s UnTestrictod Rèstrictèd fund$ 2025 Total Unrèstricted RestTiCted fund$ funds 2024 2024 Total 2025 2025 2024 Donations and gifts Legacies Donated good5 and services 162,208 55,000 162,208 55,000 165,837 30,000 195,837 524,048 524,048 331,745 331.745 741,256 741,258 497,S82 30,000 527,582 Oonated goods and seTvice8 Telale8 to the value of flight and accommodation costs for volunteers who allended the mls5ions, for fellows travelling lo the UK for Ir8ining and for conferences held, all of which were provided freely or by way of substantial di8counls negotiated and secured by the foundation on leims outside nomi81 commercial arrangements. -20-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 In¢omo from Investments Unr8strictod Unr•strictod funds funds 2025 2024 Interest receivable 850 3.231 Raising funds Unrestricted unresth.cted funds funds 2025 2024 Fundr isin Activities undèrtaken direcuy Share of support costs 9.528 36,197 16.295 33,163 Fundraising and publicity 45.725 49,458 45,725 49,458 21
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Charltsblè a¢tivities 2025 2024 Training programme Fellowship costs 503,495 78,493 348,706 58,561 581.988 407,267 Share of support costs Isee note 71 Share of govemance costs Isee note 7} 110.618 34.170 100,999 31,653 726.776 539,919 Analysis by fund Unreslricled funds Rèstricted funds 682.780 43.9 483,981 55,938 726.776 539,919 For the year ended 31 December 2024 Unrestricted funds Restrided funds 483.981 55,938 539,919 -22-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support Costs Support Governance costs costs 2025 2024 Basis of allocation Staff costs orffi overheads 110.547 27,727 5.818 1,459 116,365 29,188 101.703 staff time 31,190 Usage Audit fees Legal and professional fees A¢countsncy fees Truste8 costs 9.000 9,000 9.400 Govemance Governan 738 25,291 405 738 25,291 405 22,673 GDv8mance 849 Governan 138,274 42,711 180,985 165,815 Analysed b8tsveen Fundraising Charitsble activities 27,655 110,618 8,542 34,170 36,197 144,788 33,163 132,652 138,273 42,712 180,985 165,815 General support and Govemance support COSts have been allocated lo the aclivilie5 of Fundraising and the Vietnam PTogramme in the ratio of 200/0 and 800/0 respectively. The costs apportioned represent Staff and related costs, Premises costs, Office overheads and Depreciation. Governance costs and Trustee costs Governan costs irludeS payments lo the auditors of £9,00012024 '. auditors £9,400) audit fees Net movement in funds 2025 2024 Nel movement in funds is stated after Chargin{CredItIngI Fees payable to the company's auditor for the audit of the company's financial statements Depreciation of owned tangible fixed assets Operating lèase charges 9,000 519 33.279 9,400 705 30,180 Trustèès None of the trustees lor any persons connected with theml reeeived any remuneration or benefits from the foundation duTing the year. 10 Employoes The average monthly number of employees during the year was.. 2025 Number 2024 Number Admin 23-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 l O Employees {Continued) Employment Costs 2025 2024 ages anLI Salaries Other pension Gosts 113,866 2,499 99,762 1,941 116,365 101,703 There were no employees whose annual remuneration was more than £60,000. 11 Taxation Facing the World, as 8 registered charity, is potentially exempl from taxation of income and gain5 falling within section 505 of the Income and Corporation Taxes Act 1988 and sectlon 256 of the Taxation of Charyeable Gain Act 1992. No tsx charge has arisen In the year. 12 Tanglblo fixed assets FlxtLTrres and flttlngs Compthprs Total Cast At 1 January 2025 10,418 20,100 30,516 At 31 December 2025 10,416 20,100 30,516 Depreciation and impaimiont Al 1 Janu8ry 2025 DepcIatiOn charged in the year 10,416 19,208 519 29,624 519 At 31 D8cember 2025 10,416 19,727 30,143 Carrying amount At 31 Dec8mb6r 2025 373 373 At 31 December 2024 893 893 13 Debtors 2025 2024 Amounts falllng du• wlthln one yoar: other debtors Prepayments 4,614 3,113 2.132 4.485 7,727 6,617 -24-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Cr9dltors'. amounts falllng du9 wlthln one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals 454 1,231 591 254 62 20,839 26,490 28,175 21.746 15 Retlrgmgnt boneflt $ch•mo$ 2025 2024 Defined contribution s¢h•m•8 Charge to profit or loss In respect of defined eonlribulion sehemes 2.499 1.941 The foundation operates a defined contribution pension scheme for all qualifying employees. The assets of the stheme are held separately from those of the foundation in a independently administered fund. 16 Restricted funds The Income funds of the foundation include restrted funds comprising the folb)wing unexpended balances of donations held on tru51 for training and fellowship programme at the year e[.. At 1 January 2025 Incoming resources R2sourc8s gxpended At31 December 2025 Fellowship Piogramme 92,118 (43,9961 48,120 Previous year.. At 1 January 2024 Incoming resources Resources èxpended At37 Docembèr 2024 Fellowship Programme 118,054 30.000 155.938) 92,116 Fellowshlp programme The purpose of the fund is lo provide Fellowships and equipment to M'elnamese medics required for dèveloping Craniofacial Cenlers of ExCeller lo enable them to follow speeialised training in othér hospitals around the worfd. -25-
FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Unrestricted funds During the year, the tru$lee$ Continued lo maintain a working capital fund as a designated fund in order to ensure both the Short term liquidity and the long term financial stability of the foundation. The fund was deemed to be necessary and sufficient to sustain the foundation's basic operational costs for a period of at least six months. At 1 January 2025 In¢omlng rgsour¢gS Resources 9xpondgd At31 Dg¢gmbgr 2025 Designated funds Gerberal funds 175,000 179.062 175,000 192,663 742,106 {728,5051 354,062 742,106 {728,505 367,663 Prevlous year: Al 1 January 2024 In¢omlng resour¢es RÈsourees exponded At31 De¢&mber 2024 Designated fvnds General funLIs 175,000 211,688 175,000 179,062 500,813 {533,439 386,688 500,813 533,439 354,062
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FACING THE WORLD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Op9rating lease ¢ommitmonts Lessee Al the reporting end dale the fDundation had outstsnding commitments for lulure minimum lea8e payments under nOn-CanlIable operating leases, which fall due as follows". 2025 2024 Within one year 14,700 13,680 20 Related party transactions During the year Mrs Kalrin Burké Smith ltrustee} was reirnbursed £2,85812024.' £3,320) for expenses paid on behalf of the foundation. During the year the charity received donations of £1,00012024= £9.0001 from trustees. 21 Control The foundatiDn is tiMatelY controll8d by tho trustees. 22 Cash generated from operations 2025 2024 Deficit for the year 130,3951 {58,564) Adjustments for.. Investment income recognised in ststemenl of financial ath'vib'es Depreciation and impairment of tangible fixed assets 18501 520 13,2311 705 Movaments in working capital.. Ilncreasel in debtors Increaselldecrease) in creditors 11,1101 6.429 {6221 {S.ClI Cash absorbed by operations 125,4061 166,7131 23 Analysls of ¢hanges In nèt funds The foundation had no mat8rial debt during th8 year. -28-