2024-12-31-accounts

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT AND GROUP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Paul Jackson. Group ChiefExecutlve, Jane Dalton, Vice Chalr. Glyn Tomlinson. GMC Member. Lynn Rich8rds-Cole, Trustee, The Hospital Saturday Fund, presented e73,500 to Joseph St8frace, Founder, Service Dogs Malt8 Founclation, 8longside the dog trainers and service users. Thé grant willgo towards fundlngmore service dogs forpeople with dis8bilities in M81ta and8xpenses for dog food, dog medic81 exp8ns8s, n8Ut8ring, and marketing. UK Registered Company Number.. 6039284 UK Registered Charity Number.. 1123381 Ireland Registered Charity Number: 20104528

THE HOSPITAL SATURDAY FUND REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Officers and Advisers Report of the Board of Trnstees 2-14 Independent Auditor's Report Consolidated Income Statement Consolidated Statement of Financial Activities 23 Group and Charity Balance Sheets 24 GTOUP Statement of Cash Flows 25 Notes to the Financial Statements 26-46

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES YEAR ENDED 31 DECEMBER 2024 OFFICERS AND ADVISERS Chalr Mr J Greenwood Iqce Chalr Mrs J L Dalton LLB (Hons) Other Truslees Mr M Davies Mr D.Fox Mr C Healy Mr J Randel ( resigned 16 October 2024) Mrs. L Richards-cole ACII (appointed 16 October 2024) Mrs M Rogers (resigned 25 May 2024) Mr D Thomas Dr Anna Maria Zammit (appointed 16 October 2024) Group Chief Exeeullve Mr P W Jackson Msc BA (Hons) DChA Company Secrelary Mrs Pauline Jones CertPFS Palron Ms L Garrett CBE FRAM Prlnclpal Bankers HSBC Bank Plc, London Commercial Banking Centre, Level 6, 71 Queen Victoria Street, London, WC2R IDJ Sollcllors Joelson Law (UK) 2 Marylebone Road, London, NWI 4DF IndependentAudl(or MHA 6th Floor, 2 London Wall Place London EC2Y SAU Inveslmenl Managers LGT Wealth Management UK LLP 14 Cornhill London EC3V 3NR RegAslered Office 24 Upper Ground LONDON SEI 9PD Telephone: [phone] 7928 0446 charity@hsf,eu.com Email..

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES YEAR ENDED 31 DECEMBER 2024 The Board of Trustees is pleased to present the 16th Annual Report comprised of the Report of the Board of Trustees and Strategic Report and the audited financial statements for the year ended 31 December 2024. STRATEGIC REPORT Summary The Hospitsl Saturday Fund has been helping people in times of illness or medical need since 15 June 1873. In those days there was no NHS and very little government aid for those who needed it most. This led the Victorian social refornier, the Twelfth Earl of Meath, and others to establish The Hospitsl Saturday Fund to give working people an opportunity to ¢ontribute to the costs of running their local hospitals, so named because Sathrday was the trdditional pay-day when people were more likely lo have a few pennies to spare. Over the years leading to the formation of the NHS in 1948, HSF gradually becam¢ a health cash plan but maintained its charitable support for hospitals and medical charities. Th¢ Hospital Saturday Fund is now a grant-rnaking charity which donates to medically associated charities for care and research. and io some individuals with health problems throughout the UK and Ireland. The Hospital Saturday Fund is also the parent of three trading Subsidiaries The HSF health plan Ltd, HSF health plan Malta Ltd & HSF Assist Ltd which generate the income from their trading activity to fund the grant-making. HSF health plan Ltd is a company limited by guarantee which provides a range of health cash plan schemes ihroughout the United Kingdom and the Republic of Ireland. HSF health plan Malta markets health cash plan schemes in Malta. HSF Assist Ltd provides an employee support telephone service to COTporate clients. Serviees Agreement A Services Agreement between the Charitable Company and HSF health plan Limited has been entered into so that staff and resources will be provided to the Charitable Company by the Trading Company. OWECTIVES AND ACTIVITIES Charitable Objeels The Charitable Company's principal objects as sel out in its Memorandum of Association are: "the relief of sickness and suffering and giving of help to those who are aged. infirn), unemployed or in need and who require Medical Relief as hereinafter defined or who are pregnant and for ihe promotion of medical research for the benefit of the public in the United Kingdom of Great Britain and Northern Ireland, Eire, the Channel Islands, the Isle of Man and Malta." Impact The Trustees of the Charitable Company are aware of their duties under the Charities Act in regard to public benefit. Each Trustee is aware of the general public benefji guidance from the Charity Commission. They aim to discharge that trusi by making grants to a great nutnber of medical charities which benefit a wide section of the general public in both the United Kingdom and Ireland. The Board has S¢t in place monitoring and evaluation Procedures to review the impact of the work to ensure the aims of the Charitable Company are being met. The trading activities of the subsidiary companies enable The Hospital Saturday Fund to continu¢ its charitable activities. PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR The Grant Making Committee continued to operate with the knowledge that however 'deserving' some charities and individuals appeared in their applications. there was not enough money to respond to each one and careful, fair and responsible decisions had to be made. This care was demonstrated in the time taken to examine applications on behalf of individuals and the submissions from charities and by responding as fairly as possible. Granls made in the year During 2024, HSF processed 1,148 applications on behalf of individuals and, after careful assessment by the Grant Making Committee, 500 were awarded a grant making a total of £395,028 (2023: £391,282) for the year. A further total of £1.845,683 (2023: £1,851,335) was awarded to 549 medical charities, hospices and hospitals including the special medical school grant. The following pages show a chart and table analysing the grants made in the year by type and by geographical spread. Following these charts are examples of the feedback received from recipients which emphasise the public benefit achieved by the grdnts.

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR (continued) Annuvdl Receptions The Board endeavours to hold a Reception each year in order to present grants in person to representatives of medical charities, hospices and hospitals. The Trustees held a reception at the City Chambers in Glasgow on 29 February 2024. A total of £110,000 was donated on that evening to Twenty-five charities based in Scotland. The event was hosted by Councillor Jacqueline McLaren, the Lord Provost of Glasgow, Vice-President of The Hospital Saturday Fund who attended the reception and presented the grants. The Trustees also held a charity reception in Cork, Ireland. The reception took place on 21 November 2024 in the Aula M&xima, Cork, hosted by University College Cork. A total of el 31,0(M) was donated on that evening to 28 charities based in Munster. Councillor Tery Coleman, Deputy Lord Mayor of Cork and Ms Lesley Garrett, our Patron attended the reception and presented the grants. The following pie chart shows grants awarded by type of charity for the year ended 31 December 2024 Respitoryliungl Sight 2% Women'5 Health 1% Sury•ry Arthrftls Autlsm 1% Canc•r 9% C•r•lSod•l C4r• 6% Skin Addlctlon 1% 61adderl Bowol Cardlova5¢ularl Chest Pregnancylchildblrth Physlcal Dlsabillty Neuroloelcal IBralnlHea 8% Chlldr•n'$ DlsabllStl•sl 6% Mentsl H•alth Dtsord• 1% Eld•rty 3% Mens Health ￿. 1% Medlcln 1% Endocrln•lR•MI Imetsbollc 19S Hosplce 14% Medlcal School 1% HIVIAIDS l/v Hospital Flrst aldlEmergency Treatment 4% Hearinglspeech 1% Leamlng Dlfficultlos 4% Genetl¢/Cogenltal Gastilonl testlnal The vast majority of grants awarded were for £2.000 (or £3,000), with 32 lesser donations being made. During 2024. 517 higher grants ranging between £2,000 and £10,000 (or E3,000 and E13,51X)) were awarded to charities where a specific need was deemed by the Committee to warrant a larger award.

THE HOSPITAL SATURDAY FUND (A Company Llmited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR (eontinued) The Committee endeavours to ensure that not only is there a wide geographical spread within the grant making but. within the charities supported, there are many different types of illness, disability, care, research and age groups r¢pT¢s¢nted. Further details of the grants given can be found in Note 8 of the accounts on page 33. Grants are made to both local and national institutions. The following pie chart shows grants awarded by region for the year ended 31 December 2024. Walés YorkshlTe & Humber East UK Wlde 19% Ireland 36% South West & Channel Island5 South E•rt London Scotland io Malt4 Northem Ireknnd North West 3% North Ext MldlaThls Wert 1% 3% Mldlands Eart 1% Organisations receiving ranged from Quarriers, Down's Syndrome Scotland, Heart of Kent Hospice, Ambitious about Autism, Air Ambulance Northern Ireland, Swansea University, st Michaels House Foundation, Sigma Foundation, Brittle Bone Society, Leukaemia UK, Irish Heart Foundation, University of Dundee (Medical School), Beatson Cancer Charity, Popham Kidney Support, Doctors in Distress, Aspire Ireland, Charis Cancer Care, Hearing Dogs for Deaf People. Extern Ireland, Henshaws Society for Blind People, Migraine TrusL Blood Cancer UK, Popham Kithiey Suppor¢ Chest Heart & Stroke Scotland, Southern Area Hospice Services, Vision Irelan(L St Clare Hospice. Grants to hospitals were for specific projects, equipment or designated charitable funds. Fund Ralsing The Group does not fundraise externally or use any professional fimdraiser or any commercial participator in rdising its fimds.

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continlled) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTlVtTIES AND ACHIEVEMENTS IN THE YEAR (eontinued) Evaluation process In meeting the Charities Act requirement to demonstrate public benefit through the grant making process, Trustees consider not only the recipient charities and their appllcations but also the impact the past awards have had. As such, the Trustees ensure that feedback from recipients is obtained where possible and reviewed for evidence of the grant being used for its correct purpose. In fact, the Trustees commissioned an independent review of the Charity's grant making process. The review was carried out by a Msc Student from Centre for Charity Effectiveness, Bayes Business School, City University of London. The review was extremely positive. and the Trustees discussed the report's recommendations at their Board meeting on 25 March 2024. This r¢view fornis part of a series of r¢views which hav¢ be¢n carried out over th¢ past few years on this area. Condensed versions updates received from grdntees are available on our website: https://www.hospitalsaturdayfund.orglnews-archive. Amongst others, updates on the website relating to work supported by The Hospital Saturday Fund in 2024 refer to: Towards the first biomedi¢al research resource dedicated to storing samples of cancers in children & young people (Blood Cancer UK) To provide a lift lo increase capacity of IWA Dundalk Life Skills Programme (St Wilfrid's Hospice Eastbourne) to provide opportunitie5 for adults with down syndrome ongoing learning allowing them to access paid, work (Down Syndrome Ireland) Funding the Assistance Dog Training Programme (Dogs for Good) Towards the Asthma Awareness Project in EdinburghlGalashiels schools (Asthma and Allergy Foundation) Replacing ceiling track hoists (Enable Ireland) Purchasing an Oxygen Generation Unil (Suffolk Oxygen Therapy Centre) Medical Electives for undergraduate medical students (University of Plymouth) Towards the construction of a new annex to be used for the Equestrian Assisted Learning programmes (Sigma Foundation, Malta) A 3D Bioface Mechanical Perfonnance Improvement of Bioprinted Cartilage Constructs (University of Swansea) A Lacsure milk management machine for the Neonatal Intensive Care Unit (Galway Sick Kids Foundation) Towards physiotherapy Services (Zoe's Place Baby Hospice) Providing physiotherapy and exercise services for people with MS (Revive MS Support) Towards new training monitors that simulate medical emergencies (Air Ambulance Charity Kent Surrey Sussex) Home from Home, accommodalion & support for families with a sick child in hospital (Sick Children's Trusl) A grant towards a Search and Rescue Ambulance (Severn Area Rescue Association (SARA)) Funding towards profile beds and showering equipment for disabled children (Bendrigg Trust) To help fund an essential bed, mattress & pump replacement system (St Elizabeth Hospice) Towards expanding the Cardiac Rehab service (Fit for Me Cardiac Rehab) Funding for sp¢cialis¢d sports wheelchairs, equipm¢nt. and training s¢ssions (Ospreys Wheelchair Rugby Club) Part-funding of a Research Nurse at The Royal Marsden Hospital (Cure Leukaemia) Towards investing in research, raising awareness and understanding of sepsis. (Sepsis Research FEAD In addition, The Hospital Saturday Fund receives many letters of appreciation from grantees. The following are quotations taken from letters sent to the Charity following grants being awarded to each: IA)ndon's Air Ambulance Charity Thank youforyour kind donalion of £2,000 lo London's Air Ambulance Charity's Up Agains¢ Time Appeal. Your donation means we can proiect our service - treating an timated 25,000 patients over the next 15 years, based on historical mtssion datafor our helicopters and cars. Your kind donafion means that we can cortsinue to be here. 365 days ayear, for the patienls who need us the mosl. Thankyo /AT"* . •&V

THE HOSPIT AL SATURDA Y FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR (continued) Irish Guide Dogs for the Blind Throughyour collective support, severalfamilieJ will enjoy Christmas ÉhiJ year because ofthe addilion of a life-changing dog io iheir homes. There is no doubi ihat your support in 2024. whether through volunleeringforfundraising, puppy raising. lemporary boarding or raising awarenessfor our work, has hod u profound andfar-reaching impact in many. many ways. Thank you for your ongoing commi¢menl and supporl. We Iruly couldn'l make such a meaningful differep7ce in (he lives ofJo many across the country wiihoulyou-our community of clients, volunteers, andsupporlers. Sensational Kids On behalf ofsensalional Kids, I would like lo eylend our sincere gralitude once againfor the generous grant of£2,948. 47provided by The Hospiial Soiurday Fund earlier thisyear. Your support has made a significanl impacl on our Early Childhood Inlervention Programmes, allowing us to acquire e.s.8enlial resources. namely REEL-4, GFTA-3 and TVP&4 assessmen¢ toolsfor our cenlres. ThanLf io ihisfunding. we h¢7ve been able lo enhanc'e ihe quality ofcare and assessments provided io chlldren wilh speech, language andperceplual challenges. The tools hL7ve empowered our team io conduct more comprehensive evaluations and develop lailored inlervention plans, greatly improving oulcomesfor ihe G'hildren andfamilies we serye. Irish Heart Foundalion Once again, we would like lo erpress our hearifeli gr(41itudefor the generousfynding of£J3,500yo awarded. Thanks to your generosity, we have made signijicanl slrides in improving ihe.$afety and preparednes.¥ of our in-pers017 Stroke support groups and evenlsfor slroke survivors. Yourfuplding allowed lo purchase crilical re.fources, including AEDS (Aulomaled External Defibrillators) and Firsi Aid Kiis, and to provide Firsi Aid iruining In 37 individuals-21 volunieers and 16 sfaff members. On behalf of everyone at the Irish Hearl Foundalion and ihe Communities we serve, we lend our deepesi gra¢ll￿defOr your generosity and belief in our mission. Your conlrlbutlon has made a langible and lasting impacl, ensuring the safety and well-being ofso many. Migraine Trust Thank you and all al The Hospilal Saturdoy Fund for your generous granl of £10,000 towards increasing ihe capacity ofour helpline ￿e￿ICe lo aid pryore individuuls living wilh migraine. We are ertremely gra¢efulfor your ongoing support, as we conlinue lo help people with migraine across the UK. Recen¢ data has demons¢r(J¢ed ihat nearly 90Yo of migruine patienlsfeel they must manage iheir condition themselves, only 50% ofpeoplefeel ihal their migruine is effectively managed and a shocking one infivepeople are waitingforfiveyears before Ihry seek medical kelpfrom iheir GP. Additionally, we are now seeing an increase in the plumber of longer and more emotional calls to our helpline due to ihe impacl of migraine on ihe caller's menlal healih. We are deiermined io ,hange this and help everyone wilh migraine lo receive ihe lreatmenl and care ihat enables them lo have ihe quality oflife they deserye. With many thanks once agaiplforyour very generous giJP. Mummygs Star Thank you so much io the Hospital Salurday FI￿dfor your generous grant towaTd% Mummy'3 Star's work wilh pregnanl or new mums who h(7ve been diagnosed wilh incurable or lerminal Tr . cancer. In the lasi 6 monihs. 70 mums have benefitedfrom one-lo-one emoÈionalsupporl. practical advice, aryd help wilh things like making will.$ or recordingfvneral preferenc￿. access lo our specialist online informalion, res(mrces, andforums, ￿ well as memory-making resotlrces.

REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR (continued) tndividuals have also expressed their gratitude and there are extracts from letters below: Physiotherapy Treatmenl We can'l thankyou enoughfor whal thephysiotherapy sessions have donefor our dL7ughter and our famify. Word cannot aKpress how ihankfvl we arefor the grant. The grant has been a huge help, enables our dat4ghier lo access additionalphysioiherapy sessions she needF. Whal a differenceyou are making to ihe lives ofthose who need it mosil Truly amazing. We wholehearledly appreciate all ofyour help andsupporl. It means more than we can sayl We will ahvays rememberyoz4r kindnes3 ap7dsupporil Parent of Individual Grant Recipient Lightweight Wheelehair and Power Attachment Thank youfor everythingyou all do to help people like me. The workyou hove all done to help has genuinely changed my lifefor (ke betler, andfor thefirst lime in a long time Ifeel hopeful about myfviure, and I know that having the right equipmen¢ wlll help meforyears lo come. Ifeel able to engage in more social events and am lookingfonvard to hopefvlly starling university nexl September to slu0 Photographyl l amjusl waitingfor an intenilew date, so I'm keeping myfingers crossedl_ Jndlvldual Granl Reclplenl A Gantry Hoist On behalf of us all at Children Today I would like to Ihank you for your kind recenl donalion of £1,000. Your donation will be used towardg helpingfvnd a portable hoisl, this is vi(al adapted equipmeni he needs. Each piece of equipment we helpfvnd noi only helps improve a child's physical well-being bul also gives ikem more independence, feel I￿5 isolaled, and helps ihem andihelrfamily ayperience a better quality oflife. Togeiher we are making a real difference lo thelr lives. Once again, on behalf of ihefamilies we help every day thank you for your much-needed and valued support. Supporler, Chudren Today Speech Ydnd Language Therapy I'm writing to ihank youfor your deC￿lon to grantfynding to Vega and her wonderful family. The £990 will contribute lo Vega's speech ikerapy where she continues to make real progressl I know the family would want me to Éhank you for your kindness and generosity, Ihey andi truly apprecialeyour support. Supporter: Revd V Green Diclz Sango Powerchydir Since receiving Èhe wheelchair. Ive have been a￿uStIng to the controls, and while it moy take us some time ¢ofylly gel Ihe hang of it, J can t begin lo describe the joy and sense offreedom it has brought him. The smile on hisface as he explores the world around him is simplypricele33. - PareMI ollndividual Grnnl Recipienl

REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ACTIVITIES AND ACHIEVEMENTS IN THE YEAR (tontinued) Occupational Therapy with Pets Thankyou so so muchl Ilpejusl gol off ihe phone with Keiih and ke is absolutely ihrilled and lookingforward to slarling work with this specialist therapisl. It is going to be incredibly Meanin￿￿[ and helpfulfor him. Supporter- Oecupational Therapist Lightweight Hoggi Swingbo Wheelehair Thankyou so muchfrom Leon apdhisfamily. He is absolulely delightedwith his new chair, and ke went into school very happy th￿ morning io show il off This will have stsch a positive impacl on this young man's life enabling some beaulifvl independence movingfonvard - Supporter, Combined Heallhcare NHS Trust Post-operntive rehabllitation physiotherapy Firsily, Ihankyou so very muchfor L7warding such a generous amount lo my daughter. As afamily, we are very graleful for ihis donalion andwill reallypwh BoronicapostSDR (Selective Dorsal Rhizolomy) lo enswe we morimise herpolenlial in ihe 2-year rehabililalionperiod. Parent of Individual Grant Recipient 4) Twenty-fnpe Scollish charilies receivedgrants al Ihe City Chambers, in Glasgow. £110, 000 was donated io medical charities and organisations. The LordProvos¢ ofGlasgow, Councilor Jacqueline M¢Lare¢ hosted the receplion and presented the granls.

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (eontinued) YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Stale of affairs The Group Statement of Financial Activitie5 for the year is set out on page 22 and show5 net outgoing resources before investment gains and losses for the year of £1,484,444. (2023 outgoing resources of £2.640,466). Net movement in funds ror the year amounled to gains of £1,190,950, after investment gains of £3,227,361 resulied in a net asset position as at 31 December 2024 of £47.122.334 (2023: £45,931,384}. Of these funds, £25,558,022 (2023: £25.458,256) is represented by the net assets of the trading subsidiary. The trading company HSF health plan Ltd's total profit for the year was £2,323,893 (2023.. £638.446). Total premiums (less Insurnnce Premium Tax) for the year were £33,582,224. Benefits payable (including Personal Accident premiums and helplines) for the year were £24,423,987 and represented 72.70/0 of premium income. The Directors consider the overall state of affairs to be satisfactory. The trading company HSF Assist Ltd's total profit for the year was £25,488 {2023.. £32,609). Total income for the year was £52,993 (2023: £53,097). The Directors consid¢r the overall state of affairs to be satisfactory. For the charity alone, total income for the year amounted to £3,343,451 (2023.. £1,582,809) including gift aid from the subsidiary companies of £2,105,109 (2023.. £10,228). Grants totalling £2,035,613 (2023: £2.41 S,657) were made during the year. Afier charging the grants and crediting the gift aid payment and realised and unrealised investment gains the endowment fund increased by £646.523 to £18,489,693. The Trustees are satisfied with the net asset position of the group at the year end and are Confident that sufficient funds will be available to meet the futyre needs of the Charitable Company. Reserves Policy The Truslees have established a policy for retaining reserves both in light of the risks the charitable group faces and the Trustees, strategic priorities for their grant making activities. In essence the principal pU￿ose of the reserves are to provide a capital base from which income would be earned lo finance the grant making activities. The Trustees, reserve policy is to maintain an expendable endowment at a level of no less than £5m and no greater than £25m, this is to ensure a prudent approach to the risks faced by the Charity and also to ensure the continued level of ihe Charity's grant-making. This appr()ach has been put in plac¢ by the Trustees to avoid the situation where its annual grant-making 1$ reduced or ceases, if the Charity fails to receive a Gift Aid donation from its Trading Subsidiary for a number of years. The Trustees have the powers to approve expenditure from the expendable endowment capitsl in certain cir¢um5tances; however, these are likely to be limited to grant making activity where unrestricted reserves are known to be insuificient to meet the cost of particular grants specifically approved by the Trustees. The charity received large gift aid donations in 2021 & 2022 for the profits made by the trading subsidiary HSF health plan Ltd in the trading years of2020 & 2021, which was due to the exceptional circumstances that have resulted from the Covid-19 pandemic. However, given we are forecasting that the long-lasting effect of the pandemic and also now the effect of the cu￿ent inflation situation will likely result in quite low gift-aid donations over the next three years, also as the two largest of the three trading subsidiaries have committed to upgading its Policyholder Database to improve the level of service provided to their customers, the Trustees are nol expeciing a large increase in the grant making as a result of the 2020 and 2021 gift aid. Therefore, this will be used to fimd the next three years, grant making. The charity plans carefully to ensure that it budgels in accordance with expected income flows but inevitably short-terni fluctuations can occur. In light of this policy residual free reserves will be held at a level suificient to cover the operational working capital needs of the charity and to provide for short temi fluctuations in either falls in investment income year on year, andlor falls in profitability of the trading subsidiary. For clarity trading reserves have been separated from free charitable fimds. At the end of the year free reserves totslled £3,074,621. Although this is a small increase in the level compared with last year of £2,629.958. The Trustees. having revTrewed their strategy. are satisfied that the policy is appropriate and satisfied with the level of free reserves. An external review had been carried out in 2019 by a City of London University Student. who found our current Reserves Policy is fit for PUTpose. The policy is reviewed annually by the Board of Trustees to ensure its continuation or to review if there are any required changes to the policy or reserves held and this was approved at the November 2024 Board meeting. The trading subsidiary HSF health plan Ltd holds reserves of £22,024,691 (2023: £21.766,331) and the trading subsidiary HSF health plan (Malta) Ltd hol(Ls reserves of £3,811.238 (2023: £3,164,898). The trading subsidiaries requires reserves of this level to meet its Solvency II requirements as an insurance provider.

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (eontinued) YEAR ENDED 31 DECEMBER 2024 Principal Risks and Rlsk Assessment The Board of The Hospital Saturday Fund regularly assesses the risks to which the Charity is exposed. It agrees how best these risks may be mitigated and the Charity lakes the appropriate action to manage these risks. The risks and associated mitigations are all recorded on the organisation's risk register. The Charitable Company's principal risks are the inability of the investment portfolio to generate income, the failure of its Trading Subsidiary to generate sufficient profits, which support the Charity's annual grant-making and the withdrawal of the UK from the EU and the potential impact on the way the charity is able to operate in the Republic of Ireland. All of these principal risks along with others are monitored clos¢ly and where possible control and mitigating action plans are put in place and these ar¢ monitored quarterly by the Boards. The Risk & Compliance Committee of the Charitable Company's Trading Subsidiary monitor the Company's risk exwsure in all areas including investment, operational. financial, human TesouTC¢S. sales and business continuity, with the Committees also monitoring their own areas of risk as well. It advises the Board on risk management and policy, while it also keeps under review the effectiveness of these areas. The Chief Risk Officer (CRO) is the Executive Director accountable for enabling the efficient and effective governance of significant risks, and related opportunities, for the Trading Company and this role is the responsibility of the Managing Director. The Chief Risk Offlcer reports to the Risk & Compliance Committee quarterly to assist the committee with actively monitoring the risks and ensure the controls and appropriate monitoring systems are in place, the CRO is also accountable to the Board of Directors. The Trading Company has produced various risk registers for the different parts of the business and these are kept under constant review by the various Committees and Board to manage and mitigate risks. Risk & Compliance Committee meet regularly to review and monitor these and reports lo the Board. The Board are satisfied with the Risk management policies and procedures in place. The main activity of the Trading Company is operator of a medical cash plan and with this business acttvity, comes the need to take risk. We monitor the profitability of Schemes and the claims data regularly, taking action when required and deemed necessary. The scheme premiums are rdted on detailed analysis of historic claims dala. Under the insurers regulatory regime, we also consider and diligently monitor a wide range of other risk including market, liquidity, interest rate, insurance, operational, concentration, climate among others, this is done by regular consideration of the ORSA (Own Risk and Solvency Assessment), further inforniation on some of these risks can be found in Note 21 and Note 22 of this document. Solveney 11 The Solvency II r¢gim¢, which came into effect on l January 2016, has continued throughout 2024. The most signiflcant requirement under Solvency II is the submission to the Pwdential Regulatory Authority (PRA) on a regular basis {usually annually) of the Own Risks and Solvency Assessment (ORSA), following approval of the Board. The ORSA was approved at the Board meeting in September 2024 and was subsequently submitted to the PRA. The Board will continue to monitor this activity and ensure the company continu¢s to salisfy their solvency r¢quirements. Investments & Investment Polley Under the Memorandum and Articles of Association. the Trust¢es of the Charitable Company hav¢ the power to make any investments which the Trustees see fit. The Trading Company's Investment Poliey is linked to the Prudential Regulation Authority solvency requirements. Its Investment Policy reflects a low to medium risk profile, which is similar lo that of the overall Charitable Group. The Charitable Company's portfolio produced a net gain of £3,389,724 on the investments held. Both the Trading Company's & Charitable Company's Investment Policies are reviewed annually by the Charitable Company's Investment Cornmittee. The Charitsble Company follows a composite benchmark ofa weighted index ofthe markets represented within the adopted asset allocation, i.e. the index relating to the specific asset class is multiplied by the percentage, which that particular asset class represents of the whole portfolio, and then these are added together to create the comp05ile benchmark. The Charitable Company's investment perforniance in the year out perfornied the benchmark by 0.50/0 Wlth the portfolio perforn]ance figure of 11.60/0 against a benchmark of I I. 10/0. The investment policy adopted by the Charitable Company is a long-tenn policy which covers a 10 year time horizon but due to the investment policy switch to Abrdn which look place in January 2022 we are only able to measure the perfonnance since the inception of the portfolio with Abrdn. io

THE HOSPITAL SATURDAY FUND {A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED31 DECEMBER 2024 The Charitable Company's ethical investment policy is that no investment may be made in any company that derives any of its income from tobacco manufacturing or earns more than IOO/o from tobacco related products. To further enhance the Charilable Company's ethical investment policy all holdings in the portfolio held wilh LGT Wealth are held in Socially Responsible and Sustainable Strategy. Since April 2018, the strategy invests in companies that are exhibiting a highly sustainable approach to their business looking at environmental, social and governance criteria. This investment strategy was introduced when working with UBS and has continue under Abrdn l LGT Wealth. Remuneration policy The Board of Trustees is satisfied that the Trading Subsidiary's staff salaries are benchmarked against market levels, using salary surveys and job comparison searches obtained from reputable recruitment agencies. The Trading Subsidiary's Human Resources Comtnittee monitor and review on an annual basis. Post Brexlt- Thlrd Country br8neh To maintain our long-standing provision of service in the Republic of Ireland (ROI). since 1949, the Board of Directors and Senior Leadership Team, in consultation wilh their advisors, liaised closely with the Central Bank of Ireland (CBI) to continue trading in ROI following the conclusion of the transition period on 3151 January 2020. On the 4th of January 2021 the CBI issued the company with a letter and certificate of authorisation confirniing the company'5 Status in Ireland as a Branch in the state of a Third County Insurance Undertaking. The company has operated under these new regulatory arrangements throughout 2024. FUTURE PLANS The Trustees hold a Reception each year in order to present grants in person to representatives of medical charities, hospices and hospitals. One such event was hosted at the Mansion House in Dublin on 27 February 2025. Twenty-six charities were presented with grants on this occasion and the event was hosted by Emma Blain, the Lord Mayor of Dublin, Vice-President of The Hospital Saturday Fund. In 2025, il is expected that grants awarded to medical charlties, hospitals and hospices will be in the region of £2,350,0(M) and recipients are already receiving funds. This will be even more appreciated charlties experience a decline in fundin81 generally, during these difficult times. The Charity relies on the success of its Trading Subsidiaries, HSF Health Plan Ltd, HSF Health Plan (Malta) Ltd and HSF Assist Ltd, not only to maintain but potentially to increase the size of ils expendable endowment and therefore to increas¢ the amount of charitable grants. The Trustees look forward to extending their grant making in the long-terni resulting in a greater ¢ontribution to th¢ work of the medical charity sector. STRUCTURE, GOVERNANCE AND MANAGEMENT The Assoclatlon The Association perfornis an important role in the overall governance of the Charitable Company and the governing document is the Articles of Association dated 16 October 2019 and amended 16 October 2024. The Members of the Association are responsible for electing the Board and Honorary Officer5 of the Charitable Company. The Association comprises up to 100 Members (excluding Honorary Officers) whose services will. in the opinion of the Board, be advantageous to The Hospital Saturday Fund. Appointment is for a period of three years. but renewable. From time to time the Board recommends to the Association that some Members should be elected for their lifetime, in recognition of particular service. The President, Vice Presidents and Life Members of the Association are listed below. President The Right Honourable The Lord Mayor of London The Right Honow7ble The Earl of Meath The Right Honourable The Lord Mayor of Dublin The Right Honourable The Lord Provost of Glasgow The Right Honourable The Lord Mayor of Belfast Mr K R Bradley MCMI Vice-Pruidents

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 Life Members ofthe Association Mr. K Lawrey JP LLB MA Msc (Econ) Barrister (Gray's Inn) MTS Natalie Bennett (from 23 May 2024) MT. T A Botly Mr. M J Boyle FCA Miss. D O Denton IP r+Ar. R Dool Mr. L l Fellman (deceased 31 October 2024) Professor P W Pallner BA(Hons) PhD FCIS FIIA DChA FRSH (from 23 May 2024) Mr. A M Rees LLB BA FCIPD Mr. W N Smith The Association held two General Meetings during ihe year, the first being the Annual General Meeting which was held on 23 May 2024 at Guildhall, London. The President and Vice Presidents (listed above) were elected. Recognising that some civic offices change hands at times of the year not close to the Fund's AGM, authority was given to the Board to invite the successors of those elected to serve in the appropriate Honorary Officer capacity. At an Extraordinary General Meeting held on 16 October 2024, Mr John Greenwood was re-elected as Chair of the Association and Board, also at this meeting Mrs Jane Dalton, Mrs Lynn Richards-cole, and Dr Anna Maria Zammit were elected for a three-year terni as Trustee5, Board of Trustees The Board comprises the Chair and seven other Trustees. The Trustees are also Directors of the Charity for the purposes of the Companies Act. The Chief Executive and the Company Secretary attend Board Meetings. At each Board Meeting, Trustees receive reports from the Board of HSF Health Plan Limited and annually they appoint two Members of the Association, who are not Trustees, to attend the Annual General Meeting of HSF Health Plan Limited with ￿11 voting rights. The Trustee5 are covered by qualifying third party indemnity insurance, paid by HSF Health Plan Limited, which was in place throughout the year and remains in force at the date of this report. At each Board Meeting, Trustees receive reports from the Board of HSF Assist Limited and HSF Health Plan (Malta) Ltd. Following the introduction of the Charity Governance Code in July 2017 and further updates in 2020. The Charity has sought to follow the principles throughout its Governance structure and processes. Appolntment, Induetion and Training of the Trustees Trustees are appointed to the Charity Board through a nomination and election process by the Members of the Association. They are appointed for a tern1 of office of three years. The Association Members, by virtue of the Articles of Associalion, decide who serves as Non-Executive Director5 of HSF Health Plan Limited and who should serve the Granl Making Committee. On appointment, all new Trustees receive thorough induction and training, which includes receiving detailed infornjation about the Charity via a T￿stee Manual, including its Memorandum and Articles, latest accounts, latest financial reports and minutes of recent Trustees, meetings. In addition, new Trustees attend an induction process at head office, where they are briefed by the Chief Executive and key staff on all aspects of the Charity's operdtions, staffLng and organisation management. Trustees are encouraged to attend appropriate external training event5 where these will facilitsle the undertaking of their role. Truslee training is provided by the Charitable Company as required. Trustees are encouraged to attend appropriate external training courses I seminars to enhance their expertise and are required to undertake the Association of Financial Mutuals I Chartered Insurance Institute health cash plan training module which concludes with an examination. Those who serve the trading company are also encouraged to attend external training appropriate for Non-Executive Directors managing an insurance company regulated by the Prudential Regulation Authority. Board Re$ponsibilit1¢5 (including Section 172 stalement) The Board are aware of their responsibilities under Companies Act 2006 Section 172, which confirms that the directors must act in the way they consider to be in utmost good faith and would be most likely to proTllOte the success of the company for the benefit of its Policyholders. They have considered this in light of its particular strncture and relationship5 by having regard (amongst other matters) to the likely long terni consequences of any Board decision. acting in the inte￿stS of the company's employees. and the need to foster the company's business relationships with suppliers. customers and other key stakeholders. The impact of the Company's operations and business activity on the community and the environment, should ensure that the company continues to maintain a strong reputation for high standards of busines5 conduct, noting that the company primarily seeks to generate funds for its parent charity to be applied to its chaTitable purposes. Relevant asperts of this are noted elsewhere in this report 12

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (eontinued) YEAR ENDED 31 DECEMBER 2024 Grant Makfing Committee, Polici¢5 and Procedures The Committee meets every quarter and reports directly to the Board. In addition to the two Trustees elected as Chair. Mr Dominic Fox and Vice Chair, Mr Cal Healy. the Committee includes appointed members Mr Andrew Gilbert. Mr Cal Healy. Mr Paul Jackson, Mrs Pauline Jon¢s. Mr Keith Lawrey, Mrs Carol Murphy. F4qr Cathal Nolan, Mrs Margaret Rogers (until 251h May 2024), Mr Andrew Tee. and Mr Glyn Tomlinson (until 22nd January 2025. Mr Fox was elected Chair and Mr Healy was elected Vice Chair of the Grant Making Comtnittee on 21 November 2024 Grants are awarded to national and local medical charities, hospitals and hospices throughout the UK, Ireland and Malt& Grant making guidelines for both individuals and oiganisations (medical charities, hospices and hospitals) are drawn up and approved by the Board. For individuals this means that applications are only accepted through a third party who has some involvement in the care of the applicant, e.g. doctor, social worker or another charity, and the demonstrated need is required to have a strong medical connection. Hospitals are required to state a particular capital project or charity within their hospital to receive their grant. Detailed guidelines for our grant making policy are available on our website www.hospita1saturday￿nd.Org. The Grant Making Committee members and Trust¢es of The Hospital Saturday Fund take the opportunity to visit ¢harities or attend their receptions in order to gain a ￿eater overall knowledge. Audltor The auditor, MHA, previously traded through the legal entlty Maclntyre Hudson LLP. In response to regulatory changes. Maclntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP. 13

THE HOSPITAL SATURDAY FUND (A Company Limited by Guarantee) REPORT OF THE BOARD OF TRUSTEES (continued) YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Repor¢ Strategic Report, and the financial statements in accordance with applicable law and regulations. Company law requires the Trnstees to prepare fmancial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees have also applied the basis of preparation FRS102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, and FRS103 Insurance Contracts. Under company law the Trustees must not approve the financial staiements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of th¢ profit or loss of the company for that period. In preparing these financial statem¢nts, th¢ Trustees are required to- select suitable accounting policies and then apply them consistently. obs¢rv¢ th¢ methods and principles in the Charities SORP. make judgments and accounting estimate5 that are reasonable and prudent; prepare the flliancial statements on the going concern basis unless it is inappropriate to presume that the ¢ompany will continue in business. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the Trustees is aware at the time the report is approved: there is no relevant audit infom]ation of which the company's auditors are unaware. and the Trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit inforn)ation and to establish that the auditors are aware of thal infomiation. ON BEHALF OF THE BOARD ON 22nd April 2025 JOHN GREENWOOD Chair JANE DALTON Vice-chair 14

THE HOSPITAL SATURDAY FUND YEAR END 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND For the purpose of this report, the lenns "we" and'our" denote MHA in relation to UK legal, professional and regulatory responsibilities and reporting obligations to the members of The Hospital Saturday Fund. For the pury)oses of the table on pages 16 to 17 that sets out the key audit matters and how our audit addressed the key audit matters, the ternis "we" and "ouf, refer to MHA. The Group financial statements, as defined below, consolidate the accounts of The Hospital Saturday Fund and its subsidiaries (the "Group"). The "Parent Charitable Company" is defined as The Hospital Saturday Fund. as an individual entity. The relevant legislation governing the Parent Charitable Company is the United Kin¥dom Companies Act 2006 ("Companies Act 2006"). Oplnion We have audited the financial statements of The Hospitsl Saturday Fund for the year ended 31 December 2024. The financial statements that we have audited comprise: the Consolidated Income Statement the Consolidated Statement of Financial Activities the Group and Charity Balance Sheets the Consolidated Statement of Cash Flows Notes I to 24 to the consolidated financial statements, including significant accounting policies. The financial reporting framework that has been applied in the preparalion of the Group and Parent Charitable Company's financial statements is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and Financial Reporting Standard 103 Insurance Contracts (United Kingdom Generally Accepted Accounting Practice). In our opinion the fmancial statements: give a true and fair view of the state of the Group's and of the Parent Charitable Company's affairs as at 31 December 4and the Group's incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with UK Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for OPiDion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further descrlbed in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group and Parent Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, and we have fulfilled our ethical responsibilities in accordance with those requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the Trustees, (who ar¢ also the directors of the Parent Charitable Company for th¢ purposes of company law) use of the going con¢¢rn basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees, assesstnent of the Group's and the Parent Charitable Company's ability to Continue to adopt the going concern basis of accounting included: The consideration of inherent risks to the Group and the Parent Charitable Company's operations and 5pe¢ifi¢ally their business m(xl¢l for the provision of health cash plans and for the Parent Charitable Company as a grant- making charity. The evaluation of how those risks might impact on the available financial resources. Where additional resources may be required. the reasonableness and practicality of the &5sumptions made by the Trustees when assessing the probability and likelihood of those resources becoming available. Solvency considerations including review of insurance provisions as at the year-end. Review of the Company's Own Risk and Solvency Assessment returns and associated solvency risk considerations. Viability assessments at Group and Parent Charitable Company levels. including consideration of reserve policies. business plans. budgets and forecasts. 15

THE HOSPITAL SATURDAY FUND YEAR END31 DECEMBER 2024 INDEPENDENT AUDITOR?S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND Based on the work we have perfonned. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may c&st significant doubt on the Group's and Parent Charitable Company'5 ability to continue as a going concern for a period of at least twelve months from wh¢n the fll)ancial statements are authorised for TSSUe. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Overview of our audit a roach Scope Our audit was scoped by obtaining an understanding of the Group, including the Parent Charilable Company, and its environment, including the Group's system of internal control, and assessing the risks of material misstatement in the financial statements. We also adthessed the risk of management override of internal controls, including assessing whether there was evidence of bias by the Trustees that may have represented a risk of material misstatement. We, and our component auditors acting on specific group instructions, undertook full scope audits on the complete financial information of all three components. Maleriali Group Parent Com audit matters RecurriDg 2024 £1.413.600 Charltable £1,377,900 2023 £1,377,900 3 % (2023: 30/0) of net assets £1,195,100 30/0 (2023: 30/0) of net a$$ets Estimates of provisions for outstanding claims (Group only) Key Audit Matters Key Audit Matters are those matters thal in our professional judgement, were of most significance in our audit of the financial statements of the current period and include the most significant &ssessed risks of material misstatement (whether or not due to fraud) that we identified. These matters included those matters which had the greatest effect on: the overall audit strat¢gy' the allocation of resources in the audit. and directing the efforts of the engagement team. These matters were addressed in the context of our audit of the financial statements a5 a whole, and in fomiing our opinion thereon, and we do not provide a separate opinion on these matters. 16

THE HOSPITAL SATURDAY FUND YEAR END31 DECEMBER2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDA Y FUND Estimates of Key audit matter description rovision for outstandin laims liabilities As described in accounting policy Ip, provisions are made at the year-end for the estimated costs of claims incurred, but not settled, at the balance sheet date, including the cost of claims Incu￿ed but not yet reported. This assessment require5 judgements due lo the use assumptions to detern]ine the likely outcome of claims made in the future, which gives rise to estimation uncertainty. It is considered a key area of focus for the audit due to the rnaterial value of the provision. How the scope of our We undertook the following procedures to verify the estimates of provision for audit responded to the key Outstanding claims IAabiliÉies: audit matter We reviewed the methodology developed by management to estimate the outstanding claims and Incu￿ed But Not Reported ("IBNR") provision a5 at the year end for reasonableness including an assessment of any changes in the methodology during the year. We perfonned an assessment of the outstanding claims at year end on a sample basis. We assessed the re&sonableness of the IBNR estimate at year end by Comparing the historic provision estimate5 against recent actual results to establish reliability of the historical claims patterns. T¢sting the provisioning model including the data feeding into the model. and Comparing the IBNR to post year end claims experience to date. To test cut off, we reviewed a sample of claims received pre and post year end. We reviewed the accounting policy for compliance with FRS 102 and FRS 103 and tested the disclosures in the fmancial statements. Key observations communicated to the Group's Board of Trustees Nothing has come to our attention that indicates the value of the provision for outstanding claims is not within an acceptable range and has not been recorded and classified appropriately. We conclude that it is consistent with financial reporting standards. Our application of materiality Our definition of materiality considers the value of error or omTssion on the financial statement5 that, individually or in aggregate, would change or influence the economic decision of a reasonably knowledgeable user of those financial statements. Mi55tatements below these levels will not necessarily be evaluated as immaterial as we also take account of the nature of identified misstatements, and the particular circumstances of their occurrence, when evaluating their effect on the financial statements as a whole. Materiality is used in planning the scope of our work, executing that work and evaluating the results. Materiality in respect of the Group was set at £1,413,600 (2023: £1,377,900) which wa5 detsrn]ined on the basis of 30/0 (2023: 30/0) of the Group's net assets. Materiality in respect of the Parent Charitable Company was set at £1,377,900 (2023: £1,195,000), deterniined on the basis of 3 % (2023: 3 %) of the Parent Charitable Company's net assets. Net assets were deemed to be the appropriate benchmark for the calculation of materiality as this is a key area of the financial statements with which the users of the financial statements are principally concerned, and is also the rnost appropriate measure for understanding the solvency of the entLty. Perforniance materiality is the application of materiality at the individual account or balance level, sel at an amount to reduce, to an appropriately low level, the probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial 5tstements as a whole. Perforniance materiality for the Group was set at £1,201,600 (2023: £1,171,200) and at £1.171,200 (2023: £1,015,800) for th¢ Par¢nt Charitabl¢ Company which represents 85 % (2023: 850/0) of th¢ above materiality levels. The detennination of perfonnance materiality reflects our assessment of the risk of undetected errors existing, the nature of the systems and controls and the level of misstatements arising in previous audits. We agreed to report any corrected or unc0￿ected adjustments exceeding £70,600 (2023.. £68,800) and £68,800 (2023: £59,700) in respect of the Group and Parent Charitable Company respectively to the BoaTd of Trnstees as well as differences below this threshold that in our view wa￿anted reporting on qualitative grounds. 17

THER HOSPITAL SATURDA Y FUND YEAR END 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND Overview of the scope of the Group and Parent Charitable Company audits Our assessment of audit risk, evaluation of materiality and our detern)ination of perforniance materiality sets our audit scope for each company within the Group. Taken together, this enables us to forni an opinion on the consolidated fmancial statements. This assessment takes into account the size, risk profile, organisation / distribution and effectiveness of group- wide controls, changes in the business environment and other factors such as recent internal audit results when assessing the level of work to be perfornied at each component. The scope of our audit In addition to the parent charitable company, the group consists of 3 reporting components. HSF health plan Limited HSF Assist Limited HSF health plan (Malta) Limited In assessing the risk of material misstatement to the consolidated financial ststements, and to ensure we had adequate quanlitative and qualitative ¢ov¢rag¢ of significant accounts in the consolidated financial slatements, of the 3 reporting Components of the group, we identified all 3 ¢omponents in the UK or Europe whi¢h represent the principal business units within the Group. Full Scope audits: HSF health plan Limited and HSF Assist Limited were considered to be significant components of the Group. All significant components were subjected to full scope audits for the purposes of our audit report on the Group financial statements. The group audit team performed the audit of all significant subsidiaries of the group. Specifled procedures: HSF health plan Malta Limited was not considered to be a significant subsidiary of the group. In order to obtain an appropriate level of audit evidence in respect of these transactions and balances, we inslructed component auditors to perforn] specific procedures focussing on the are&s where we identified a heightened risk of material misstatement. We reviewed the reports and Working papers prepared by the component auditor5. Where appropriate, we challenged the judgements and conclusions made by the component auditors. As part of our direction of their work we also had regular inleractions with them to discuss the nature and progress of their work including any issues arising from their work. The control environment We evaluated the design and implementation of those internal controls of the Group, including the Parent Charitable Company, which are relevant to OUT audit, such as those relating to the financial reporting cycle. Climrdte-related risks In planning OUT audit and gaining an understanding of the Group and Parent Charitable Company, we considered the potential impact of climate-related risks on the business and its financial statements. We have concluded that climate- related risks are not material to these financial statements, specifically with regards to the portfolio of investments held and claims provisions, owing to the short tail nature of insurance operations. Reporting on otber information The other inforniation comprises the inforniation included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our repor( we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other inforniation and. in doing so, consider whether the other infonnation is materially inconsistent with the fmancial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material incon51Stencies or apparent material misstatements, we are required to deterniine whether this gives rise to a material misstatement in the fman¢ial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. 18

THE HOSPITAL SATURDAY FUND YEAR END 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND Strategic report and Report of the Board of Trustees In our opinion, based on the work undertaken in the course of the audit: the infonnation given in the Report of the Board of Truslees, which includes the Strategic report and the Directors, report Prepared for the purposes of company law, for the financial year for which the fmancial statements are prepared is consistent with the financial statements. and the strategic report and the Directors, report included within the Report of the Board of Trustees have been prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors. report included within the Report of the Board of Trustees. Matters on which we are required to report by exceptlon W¢ have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the Parent Charitable Company. or returns adequate for our audit have not been received by branches not visited by us. or the Parent Charitabl¢ Company financial statements are not in agreement with the accounting re¢ords and returns. or certain disclosures of Trustee's Temuneration specified by law are not made. or we have not received all the infonnation and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the Trustees, responsibilities statement. the Trustees (who are also the directors of the Parent Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees deterniine is necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud or e￿Or. In preparing the fmancial statemenls, the Trustees are responsible for assessing the Group and the Parent Charitable Company's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or Parent Charitable Company or to cease operations, or have no realistic alternative but to do so. Auditor respoosibilities for the Audit of the financiAI statements Our objectives ar¢ to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or e￿Or, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably bc expect¢d to influence the economic decisions of users takcn on th¢ basis of these financial statements. A further descripiion of our responsibilities for the fmancial statements is located on the FRC'S website at: www.frc.or .uklauditorsres on5ibilities . This description fonns part of our auditor's report. Extent to whieh the audit was considered capable of deteeting irregularitie5, including fraud Irregularities, including frau¢ are instances of non-compliance with laws and regulatlODS. We design procedures in liThe with our responsibilities, outlined above, to detect material misstatements in respect of i￿egUlar1ties, including fraud. These audit procedures were designed to provide reasonable assurance that the fmancial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is iThherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the rther removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. 19

THE HOSPITAL SATURDAY FUND YEAR END 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND Identifying and assessing potential risks arising from irregularities, including fraud The extent of the procedures undertaken to identify and assess the risks of material misstatement in respect of irregularities. including fraud, included the following.. We considered the nature of the industy and sector, the control environment, business perfomance including remuneration policies and the GTOUP'S, including the Parent Charitable Company's, own risk assessment that irregularities might occur as a result of fraud or error. From our sector experience and through discussion with the Trustees, we obtained an understanding of the legal and regulatory frameworks applicable to the Company focusing on laws and regulations that could reasonably be expected to have a direct material effect on the financial statements, such as provisions of the Companies Act 2006, Charities Act, regulatory and supervisory requirements of the Financial Conduct Authority (FCA), Prudential Regulatory Authority (PRA) and UK tax legislation or those that had a fundamental effect on the operations of the Group. We enquired about the existcnce of, and investigated the findings of. any communication with regulators that had occurred during the year. Legal and prof¢ssional expenditures were reviewed for any instances of any legal or regulatory communication or payment5 which had not been disclosed. We enquired of the Trustees and management including the Audit and Finance Committee concerning the GTOUP'S and the Parent Charitable Company's policies and procedures relating to., identifying. evaluating and complying with the laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they had any knowledge of actual or suspected fraud,. and the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur by evaluating management's incentives and opportunities for manipulation of the financial statements. This included utilising the spectrum of inherent risk and an evaluation of the risk of management override of control5. We deterniined that the principal risks were related to posting inappropriate journal entries to increase revenue OT reduce costs, creating fictitious trdnsactions to hide losses or to improve financial perfonnance, and management bias in accounting estimates particularly in detennining expected insurance claim losses. The group engagement team shared ihis risk assessment with the component auditors of significant subsidiaries so that they could include appropriate audit procedures in respon5¢ to such risks in their work. Audit response to risks identified In respect of the above proceduTes.' We corroborated the results of our enquiries through our review of the minutes of the Group's and the Parent Charitable Company'5 Board of Trustees, and Audit & Finance committee meetings, inspection of legal and regulatory correspondence and correspondences from the regulators the PRA and the FCA. audit pro¢edures perfonned by the engagement team in connection with the risks identified included: reviewing financial statement disclosur¢$ and testing to supporting documentation to assess compliance with applicable laws and regulations expected to have a direct impact on the financial statements. testing journal entries, including those processed late for financTal statements preparation, those posted by infrequent or unexpected users, those posted to unusual account combinations. evaluating the business rationale of significant transactions outside the norrnal course of business, and reviewing accounting estimates for bias- enquiry of management around actual and potential litigation and claims. challenging the assumptions and judgements made by management in its significant accounting estimates, and obtaining confirniations from third parties lo confirnl existence of a sample of balances for cash at bank and investment valuations. the Group and the Parent Charitable Company operate in a highly regulated insurance industy. As such, the Senior Statutory Auditor considered the experience and expertise of the engagement tsam to ensure that the team had the appropriate competence and capabilities. and 20

THE HosprrAL SATURDAY FUND YEAR END 31 DECEMBER 2024 INDEPENDENT AUDITORgS REPORT TO THE MEMBERS OF THE HOSPITAL SATURDAY FUND we communicated relevant laws and regulations and potential fraud risks to all engagement team members, including experts, and the component auditors and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Other requirements We were appointed by the Directors on 29 November 2019. The period of total uninteTrupted cngagem¢nt including previous ienewals and Teappointments of the firm is 6 years, initially under the legal entity Maclntyre Hudson LLP and subsequently under MHA Audit Service5 LLP. We did not provide any non-audit services which are prohibited by the FRC'S Ethical Standard to the Company, and we remain independent of the company in conducting our audit. Use of our report This report is made solely to the Parent Charitable Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Parent Charitable Company's members those matters we are required to state to them in an auditor's report and for no other pury)ose. To the fullesl extent pernlitted by law, we do not accept or assume responsibility to anyone other than the Parent Charitabl¢ Company and the Parent Charitable Company's members as a body, for our audit work, for this repor¢ or for the opinions we have forni¢d. Sudhlr Singh FCA (Senior Statutory Auditor) for and on behalf of MHA Statutory Auditor London, United Kingdom Date: 30 April 2025 MHA is the tradin8 name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542). 21

THE HOSPITAL SATURDAY FUND CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Not TECHNICAL ACCOUNT GENERAL BUSINESS Earned premiums Gross Premiums written Change in the gross provision for unearned premium5 33,800,417 (87,036) 30,664,490 (74,233) Gross premiums ¢arn 33,713.381 30.590,257 Net premiums earned 33,713,381 30,590,257 Clalm$ incurred Gross claims paid Change in the gross provision for claims outstanding 20 {24,658,571) 199,307 (23.295.261) (143,771) (24,459,264) (23,439,032) Net operatlng expenses (9,434,555) (8,323,593) Balance on the technlcal account for general busine95 (180,438) (1,172,368) NON-TECHNICAL ACCOUNT Investment income Income from other financial investments Interesl receivable Realised (losses)- other fmancial investments Unrealised gains - other financial investments Investsnent expenses and charges 958,202 30,305 (551,967) 3,227,361 (274,177) 954,172 18,565 {380,426) 3,308,511 (258,247) io io 3,389,724 3,642.575 Other income Donations and legacies received Net income from trading activities Other charges - charitable activities 10,476 825 279,754 (2,355,395) {2,035,613) (2,025,137) (2,074,816) Profit before tax 1,184,149 395,390 Taxation 14 6,997 (107,600) Profit for the year after tax 1,191,146 287,790 The profit on ordinary activities before tax is wholly attributable to continuing activities. The notes on page5 26 to 46 forni part of these flnancial statements. 22

THE HOSPITAL SATURDAY FUND CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2024 Unrestricted 2024 Charity Expendable Endowment 2024 2023 Charity Tradlng Total Tolal Notes Income and endowments: Donations and legacies Trading activities Investment income 10,476 10,476 33,713,381 988,507 825 30,643,353 972,736 33,713,381 406,280 582,227 Total incoming resource5 592,703 34,119,661 34,712,364 31,616.914 Expenditure on: Raising funds - trading activities (47,089) (33,934,541) (78,613) (34,060,243) (31.841.723) Amounls avallable for charitable application 545,614 185,120 (78,613) 652,121 (224,809) Charitable activities (2,136.565) (2,136,565) (2,415,657) Net (outgoing)liDcomlng resources before investment gains vand losses Gift aid donation Realised investment loss Unrealised investment gain l (loss) Transfer between fiinds (1,590,951) 185,120 (2,105,109} (549,446) 2,569,200 (78,613) (1,484,444) (2,640,466) 2,105.109 (2,521) 658,161 (2,035.613) 10 io 15 (551,967) 3,227,361 (380,426) 3,308,511 2,035,613 Net movement in funds for the year 444,662 99,765 646,523 1,190,950 287,619 Funds brought forward 2,629,958 25,458,256 17,843,170 45,931,384 45,643,764 Funds earried forward at 31 December 2024 3,074,620 25,558,022 18,489,693 47,122,334 45,931,383 The notes on pages $ to 46 fonn part of these fmancial ststements All transactions are derived from continuing activities. The statement of fmancial activities includes the income and expenditure account. All recognised gains and losses are included in the statement of financial activities. 23

THE HOSPITAL SATURDA Y FUND COMPANY NUMBER: 06039284 GROUP AND CHARITY BALANCE SHEETS AT 31 DECEMBER 2024 2024 2023 Group Charily Group Charity Notes FIXED ASSETS Tangible assets Investments 4,923,398 39,272.622 5,013,205 36,760,996 io 36,342,384 35,053,242 44,196,020 36,342,384 41,774,201 35,053.242 CURRENT ASSETS Debtors Cash at bank and in hand 2,873,709 5,996.710 14,886 4,627,789 2,346,324 7,101,472 47,942 4,894.806 8,870,419 4,642,675 9,447,796 4,942,748 CREDITORS: amounls falling due Ivithin one year 12 (5,124,987) (49,001) (4,510,085) (156,596) NET CURREiYT ASSETS 3,745,432 4,593,674 4,937,711 4.786,153 TOTAL ASSETS LESS CURRENT LIABILITIES 47,941,452 40,936,058 46,711,912 39,839,395 DEFERRED TAXA TION 14 (818,924) (780,529) NET ASSETS 47,122,528 40,936,058 45,931,383 39,839,395 Representing: FUNDS Unrestricted funds - General funds - Trading funds Expendable endowment fund 15 15 15 3,074,621 25,558,216 18,489,693 19,664,308 2,629,958 25,458,256 17,843,170 19,664,308 21,271,750 20,175,087 47,122,529 40,936,058 45,931,384 39,839,395 The financial statements were approved and authorised for issue by the Board of Trustees on 22nd April 2025 and were signed below on its behalf by: OHN GREENWOOD Chair J_ LJk_ JANE DALTON Vice Chair The notes on pages 26 to 46 forn] part of these f]nancial statements. 24

THE HOSPITAL SATURDAY FUND CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 CONSOLIDATED STATEMENT OF CASH FLOWS 2024 2023 Notes Rcconciliation of Det movernent in funds for the year to net operating cash flows Net movement in funds for the year Taxation Exchange (gains) / losses Unrealised (gains) / losses on other financial investments Realised losses l @ains) on other financial investments Income from other financial investments and cash Depreciation and amortisation (Increase) in debtors Increw in creditors 1.190,950 (6,801) 287.789 107,600 (3,227,36l) 551,967 (988,507) 248,177 (527,385) 611,270 (3,308,511) 380.426 (972,737) 223,515 773,763 323,494 Net casbflow from operating aetivilies (2,147,690) (2,184,661) Cash flows from investmen¢ a¢tlvltles Income r¢¢eived from other financial investments Interest received Purchases of tangible fixed assets Acquisition of subsidiaries Purchases of other financial investments Sales of other financial investments 958,202 30,305 (165,828) 954,172 18.565 (270,594) (7,602.337) 7,948,499 (7,951.500) 8,091,358 Net eashtlow from investing sctivities 1,168,841 842,001 (Decrease) in cash holdings (978,849) (1,342,660) Cash and ¢ash equivalents at l January Exchange losses on cash and ¢ash equivalents 7,101,472 (125,910) ,792,140 (348,008) Cash and cash equivalents at 31 December 5,996,710 7,101,472 Analysis of cash and cash equivalents Cash in hand 5,996,710 7,101,472 Total cash and eash equivalents 5,996,710 7,101,472 ANALYSIS OF CHANGES IN NET CASH At l January 2024 Cashnows Capltal Contribulion to subsidiary At 31 December 2024 C&sh 7.101,472 (1.104.762) (1,104.762) 5,996,710 Total 7.101,472 5,996,710 There was no net debt in the current and prior year 25

THE HOSPITAL SATURDA Y FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES The Hospital Saturday Fund is a charitable company limited by guarantee and is incoTporated in the England and Wales. In the event of the charity being wound up, the liability in respect of the guardntee is limited to £1 per member of the charity. The address of the registered oifice is given in the charity infonnation on page l of these financial statements. The nature of the charity'5 operations and principal activities are that of a grant giving charity. The charity Consti￿t¢S a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charilies: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102 & FRS103), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. These accounts consolidate the accounts of the Charitable Company and its wholly owned non-charitable trading subsidiaries companies HSF health plan Limited, HSF Assist Limited and HSF health plan (Malta) Ltd. As perniitted by Section 408 of the Companies Act 2006 and in accordance with paragraph 397 of the Charities SORP 2015, no separate SOFA has been presented for the Charitable Company alone. The financial statements are prepared on a going concern basis under the historical cost convention, m(Mlified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have b¢en ¢onsist¢nily applied to all years presented unless otherwise slated. Gift of Investment in HSF health plan Limit The investment is Ca￿led at the Trustees, estimate of valuation of the company at l April 2007, the date of gift from the company, less any provision for pernianent diminution in value. In 2021 the Trustees, acquired a further subsidiary of HSF health plan (Malta) Ltd and this is Ca￿led at the Trustees, estimate of valuation of the company at13 January 2021, the date of the investment in the company plus the valuation of the additional investment in 2022. b) Incoming re50urees All incoming resources are included within the Statement of Financial Activities (SOFA) where the charity has legal entitlement to the income, after any perforniance conditions have been meL the amount can be measured reliably and it is probable that the in¢om¢ will be received. Incoming resources represents donations, income of the trading subsidiaries and investment income. All income is a¢counted for on a receivable basis. Premiums Earned premiums represent premium income from policyholders for the year, excluding insurance premium tax and including amounts due on 31 December and subsequently received. Re-lnsurance premiums are deducted from gross premiums earned for the Personal Accident as this is underwritten by a third paty. These Re-Insurance premiums are in relation to Accident and Health and this agreement ended on the 3 1st January 2021. Provision is made for premiums receive(I but not earned at the balance sheet date. All premiums arise in the United Kingdom and Ireland. Tangible Fixed Assets The group has adopted the revaluation method in relation to its freehold property. Land and buildings occupied by the Company for its own purposes are stated at valuation less depreciation. Depreciation is applied to both the land and building as the land element is not identified separately. Depreciation in excess of historical costs is charged to the gains on investmentlproperty. Other Fixed Assets are stated at historical cost less accumulated depreciation. Costs include expenditure directly attributed in making the asset capable of operating as an asset. Depreciation is provided on all tangible assets at rates calculated to write off the cost or valuation less estimated residual value of assets in equal instalments over their expected useful lives. Assets costing below £1,000 are expcns¢d to the SOFA in the year of acquisition. The rates used are as follows on a straight lin¢ basis:. Freehold property Furniture, fixtures and fittings Computer equipment 200/0 26

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (Continued) Inve5ttnents Investtnents are recognised initially at fair value which is nornlally the transactional price, in accordan¢¢ with the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, subsequently they are reserved at fair value. Listed investments ar¢ r¢gularly marked to market with gains and losses taken to the Statement of Financial Activities. The basis for d¢t¢rniining the fair value is the quoted markci price in an active market; which is level l of the fair value hierarchy. Investments in subsidiaries are recognised at cost value. The Group does not hold unlisted assels. Realised gains and losses on investments are calculated a5 the difference between net sales proceeds and market value at the previous f￿ancIal year-end or cost if the investment was acquired subsequently. Interest Reeeivable Interest receivable is recognised in the Statement of Financial Activities in the year In which il is receivable using the effective interest method. Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment Is established. Pension Costs The Group makes contributions to employees, group personal pension plans, The pension cost charge charged to the Statement of Financial Activities in the year represents contribution5 payable by the group to the group personal pension plans in respect of the year. Redundancy Redundancy costs arising from periodic reviews of staff levels are charged against prof)t in the year in whi¢h legal or contractual recognition occurs. An exercise to restructure the HSF health plan Limited Finance department resulted in one redundancy. The process completed shortly before the year end and a provision was made for the outstanding redundancy payment. Expenditure Expenditure is accounted for on an accounts loss and classified under functional headings on a direct cost basis. Expenditure is recognised where there is a legal or contractual obligation to issue a payment to a 3rd party, it is probable trust settlem¢nt will be required and the amount of the obligation can be measured reliably. Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration, internal and exl¢rnal audit costs and IT support. Support cosls hav¢ b¢¢n apportioned between ￿ndraising ¢osts and charilable activities on an appropriate basis. The analysis of support costs and the bases of apportionment applied are shown in note 4. Claims Ineurred Claims incurred represent benefits payable to policyholders for the year and include a provision for claims in respect of the year to 31 December settled after that date. The Company's policies allow claims to be made up to 6 months after the date of receiving treatment, so the claims provision includes a component in respect of IBNR. The provision is calculated with reference ot previous claims experience. d) h) i) Fund aceountlng Unrestricted funds comprise accumulated surpluses on general and trading funds. Generdl funds comprise the accumulated surplus from the Statement of Financial Activities which are neither restricted nor designated funds. They are available for use at the discretion of the Trustees in ￿rther￿nce of the generdl objectives of the Charitable Company. Trading fund5 are the accumulated trading surpluses and revaluation surplus of the trading subsidiary. Expendable endowment funds arise where th¢ ternis of the gift aid donation stipulate that the fijnds are to be treated as capital but may be expended at the discretion of Trustee5 within the objects of the charity. Accordingly. the Trustees have the right but not the duty to expend the capital as they see fil. 27

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (continued) Deferred Taxation Full provision is made for deferred tax assets and liabilities within the trading subsidiary accounts in respect of all non-pernianent timing differences that have originated but not reversed at the balance sheet date based on tax rates substantially enacted at the balance sheet date. A net defe￿ed tax asset is recognised only if it can be regarded as more likely than not that there will be t&Yable profits from which the future reversal of the underlying timing differences can be deducted. OperAting Leases Rentals costs payable under operating leases are charged to the Statement of Financial Activities over the period of each lease. Translation of Forelgn Curren¢y Transactions in foreign curren¢i¢s are converted monthly at the average monthly rates of exchange. At the year- end assets and liabilities are converted at the exchange rates Nling at that date. Exchange differences are taken to th¢ Statement of Financial Activities. Grants Grants are recognised in the accounts when awarded by the Grdnt Making Committee and committed to and the recipient has been notified of the award. The grants are awarded at the discretion of the Trustees within the objects of the Charitable Cornpany. Financial instrurnent5 The company enters basic financial instruments transactions that result in the recognition of financial a55et5 and liabilities like debtors arising out of direct insurance operations, trade payables, loans to related parties and investments in non-puttable ordinary shares. The company has applied the requirement of Section I l and 12 of the FRS 102 framework for the rnea5urement of its financial instruments. Financial instruments are initially recognised at their transaction cost. Basic financial instruments are subsequently measured at amortised cost using the Effective Interest Rate (EIR) The EIR is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument. k) i) Equity instruments and non-basic financial instruments are subsequently mea5UTed at their fair value. The company hold5 the following types of financial instrument.: Debtors - trade and other debtors are financial instruments and are debt instruments measured, initially and subsequently, at the undiscounted amount of the cash or oiher consideration, expected to be paid or received as detailed in the Balance Sheet on page 23. Prepayments amounting to £763,726 (2023: £206,525) for the Company are not fmancial instruments. Cash at bank- is classified as a basic financial instrument and is measured at face value. Liabilities - trade creditors. accnLals and other creditors are ¢lassified u financial instrurnents, and are measured at amortised cost as detailed in the Balance Sheet on page 23. Amounts due to t&xation and social security are not included in the financial instrument disclosure. Investments - these are non-puttable ordinary Shares are measured at fair value with the exception of th¢ investm¢nt in th¢ subsidiaries which are stated at cost. List¢d investments are regularly marked to market with gains and losses taken to the Incorne Statement. The basis for deterniining the fair value is the quoted market price in an active market. which is level l of the fair value hierarchy. Realised gains and losse5 On investments are calculated as the difference between net sales proceeds and market value at the previous financial yeat-end or cost if the investment was acquired subsequently. Impaimient- Financial InSt￿mentS that are measured at fair value are assessed at the end of each reporting period for objective evidence of impairnient. If such evidence is identified an impairnient loss is recognised in the statement of omprehensive income. Impairnient- Financial instruments that are measured at fair value are assessed at the end of each reporting period for objective evidence of impainnent. If such evidence is identified an impairnient loss is recognised in the statement of comprehensive income. 28

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCoU￿1NG POLICIES (eontinued) Provisions Provision is made at the year-end for the estimated cost of claims incurred but not settled at the balance sheet date, including the cost of claims incurred but not yet reported to the Company. The estimate cost of claims includes expenses to be inCu￿ed in settling claims and a deduction for the expected value of recoveries. The Company takes all reasonable steps to ensure that it has appropriate inforn]ation regarding its material claims exposures. However, given the uncertainty in establishing claims provisions, it is likely that the outcome will prove to be different from the original liability established. Provision is also made at the year-end for the estimated unearned premium income at the balance sheet date. The Company takes all reasonable steps to ensure that it has appropriate inforniation regarding its material unearned premium exposure. However, given the uncertainty in establishing unearned premiums provisions, it is likely the outcome will prove to be different from the original liability ¢stablished. SignificaTrl judgments and estimates The group requires management to make significant judgements and esiimates in the preparation of the financial statements. The items in the fman¢ial statements where these judgements and estimates have b¢¢n made include as follows: Estimate - Foreign Currency - the translation of foreign currency into ihe reporting currency. Judgement - Technical provisions - the most Slgnificant judgement and estimate in the accounts IS the t¢chnical provisions and debtors, as it can take up to six months after the year end before establishing the ultimate cost of claims incurred and premiums paid but not yet recognised to the Company and the final outcome could be better or worse than the provisions. The Directors use a calculation based on claims and premium trend5 from the previous two years to estimate the provisions required at the year end. In 2022 there has also been an inclusion in the claims technical provisions for the Personal Accident claims following this coming in-house in February 2021. Due to this being a new area of busines5 for the company and also due to the larger value differences between individual claims values the provision has utilised 4 year5 of historical data lo generate a weighted average which is then muliiplied by the number ofopen claims at the year end with a further inclusion of an additional value for claims which have been incurred but not received. Estimate - Land & Buildings - the fair value of the freehold propeTty has been based on the value provided by an independent chartered surveyor in 2021. Even though the value was carried out in the prior year the Truslees believe this to continue to be a fair value for the freehold property, there is an estimated uncertainty in this as no third paty valuation was carried oul at the current year end. Employee Benefils When employees have rendered service to the Charity, short-tenn employee benefits to which the employees ar¢ entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The Charity operates a defined contribution plan for the b¢n¢fit of its employees. Contributions are expensed as they becom¢ payable. Tax The Charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a haritable company for UK corporation tax purposes. The taxation charge arising in the year relates to the operation of the Trading Subsidiaries. Deferred Tax Defe￿ed tax 15 generated from the activities of the charities trading subsidiaries. Full provision is made for deferred tax assets and liabilities within the accounts in respect of all timing differences, which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. A net deferred tax asset is recogni5ed only if it can be regarded as probable that there will be taxable profits from which the future reversal of the underlying timing differences can be deducted. Going Concern The Trustees have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial ststements. The Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable and there are no material uncertainties about the charities ability to continue as a going concern. This is based on the value of investments held and forecast future cashflows. The charity therefore continues to adopt the going concern basis in preparing these financial statements. p) q) 29

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 PREMIUM INCOME 2024 2023 Total dir¢ct insurance premiums Less direct insuTance PTemium tax 35.534.751 32.235.328 {1,734,334) (1,570,838) Gross direct premiurns written 33,800.417 30,664,490 The Company is engaged in only one class of business, Accident and Health, providing a range of health cash plan schemes. All premium income relates to direct insurance business arising in the United Kingdom, Republic of Ireland and Malta. All premiums received are individual periodic premiums with are based on non-participating contracts. 2024 2023 United Kingdom Republic of Freland Malta 15,115,230 18,601,333 83,754 13,630,730 17,008,752 25,008 Gross premiums written 33,800,317 30,664,490 INVESTMENT INCOME 2024 Charity 2024 Group 2023 Charlty 2023 Group Income from other financial iTJvestments Interest receivable 569,080 13,147 958,202 30,305 527,735 3,786 954,171 18,565 582,227 988,507 531,521 972,736 NET INCOME FOR THE YEAR 2024 2023 The net income for the year is stated after charging: Depreciation Auditors, remuneration.. Audit of the charity Audit of the subsidiaries Operating leases 248,177 223,515 13,000 50,300 120,800 11,0 48,700 134,499 ANALYSIS OF TOTAL RESOURCES EXPENDED Direct costs GrAnt runding Support Costs 2024 Total Raising funds Charity Subsidiaries Charitable activities 125,702 24560,719 125,702 33,934,541 2,136,564 9,373,822 100,951 (Note 8) 2,035,613 Group Total 24,686,421 2,035,613 9,474,773 36,196,807 All grants in th¢ year were funded from the expendable endowment. 30

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL ST ATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF TOTAL RESOURCES (eontinued) Direet Costs Grant funding Support costs 2023 Total Raising funds Charity Subsidiaries Charitable activities (201,477) 23,439,032 (201,477) 32,043,200 2,415,658 8,604,168 60,263 (Note 8) 2,355,395 Group Total 23,237,555 2,355,395 8,664,431 34,257,381 All grants in the year were funded from the expendable endowment. ANALYSIS OF SUPPORT COSTS 2024 Total 2023 Total Policy Services Staff Costs Property Costs Sales & Marketing Costs Administration Costs Governance Costs Exchange Variance Tax Movement 388.188 5,393,601 358.395 449,522 1,397,876 645,128 848,587 (6,801) 393,231 4,783,237 493,352 431,666 1,772,549 441,394 241.400 107.600 Total 9,474,496 8,664,429 ANALYSIS OF GOVERNANCE COSTS 2024 Total 2023 Total Internal Audit External auditors, remuneration Audit services Governance and professional sUPPOrt 71,738 38,927 59,700 513,690 59,700 342,767 Total 645,128 441,394 STAFF COSTS Charity The charity employs no staff, all staff are employed by the trading subsid1￿leS - HSF health plan Limited & HSF health plan (Malta) Ltd. 2024 2023 Wages and salaries Social security costs Pension costs 4.290.648 489,657 613,297 3,896,594 430,348 456,295 5.393,602 4,783,237 The averdge number of persons employed during the year was: Sales Administration 20 59 20 58 79 78 31

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS (continued) 2024 2023 The number of employees whose annual emoluments exceeded £60,000 were.'- £60,001- £70,000 £70,001- £80,000 £80,001 £90,000 £90,1)01- £IOO,000 £ioo,001 £1 10,000 £110,001 £120,000 £140,001- £150,000 £150,001- £160,000 £160.001- £170,000 £170,001 £180,000 £210.001- £220,000 £220.001- £230,000 £230,001- £240,000 £240,001- £250,000 £260.001- £270.000 £290.001- £300,000 £310,001- £320,000 £360,001- £370,000 Contributions totalling £347,557 (2023.. £240,015) were made to group personal pension plans in respect of the 23 {2023'. 22} employees above. None of the trustees were remunerated durimg the year for their services as trustees of the parent Charitable Company. Expenses totalling £34,319 (2023: £30,416) were reimbursed to eight trustees (2023: eight) of the parent Charitable Company for travel, accommodation and subsistence. Key Management personnel for the Hospital Saturday Fund are only the Trustees as the Charity does not employ any staff. Key management personnel within its trading subsidiary HSF health plan Limited are the Non-Executive Directors, Executive Directors and Head of Departments artd total salary and benefits provided total £1,330,678 (2023: £1,067,895). Included within Staff Costs are £1 0,500 in non-statutory payments and £7,000 in statutory redundancy paym¢nts (2023: £8,296). This amount was outstanding at the year end. Six Trustees received remuneration during the year for perfonnance of their duties as Directors of the trading subsidiary HSF health plan Ltd. In accordance with the Charity Commission advice the two Trustees who are not remuneiated, form the Remuneration Committ¢e: 2024 2023 Mrs J L Dalton Mr M Davies Mr J Greenwood Mr J Randel Ms K Richards-cole Mr D Thomas 10,649 15,417 10,107 12,065 2,852 9,536 6,954 13,604 8,870 12,728 11,753 Total remuneration 60,626 53,909 Contributions totalling £Nil (2023: £Nil) were made to personal pension plan in respect of none (2023: none) of the Directors above. 32

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 RESULTS OF SUBSIDIARIES HSF Health Plan Limited is a wholly owned subsidiary of The Hospital Saturday Fund. HSF Health Plan Limited, incorporated in the UK (number 30869), is a health cash plan organisation and donates its surplus annual taxable profits to the Charity under Gift Aid. HSF Health Plan Limited's registered office address is 24 Upper Ground, London SEI 9PD. The results of HSF Health Plan Limited are detailed below.. 2024 2023 PROFIT AND LOSS ACCOUNT Premium income Claims paid and reinsurance Net operating expenses 33,582,224 30,565,249 (24,423,987) (23,427,563) (8,668,212) (8,191,301) Balance on the technical account for general business 490.025 (1,053,615) Investsnent income and gains Other income 1,840,835 1,812,425 Profit before tsxation 2,330,860 758.810 Proflt for the year after taxation 2,323,893 638.446 BALANCE SHEET Fixed assets Net current liabilitie5 Deferred taxation 23,779,639 (92 1,764) (840,151) 23,335,029 (735.513) (833,184) NET ASSETS 22,017,724 21,766,332 FUNDS General reserve 22,017,724 21,766,332 22,017,724 21,766,332 HSF Assist Limited is a wholly owned subsidiary of The Hospital Saturday Fund. HSF Assist Limited, incorporated in the UK (number 8139547). is a helpline organisation and donates its sutplus annual taxable profits to the Charity under Gift Aid. HSF A5515t Limited's r¢gistered otTice address is 24 Upper Ground, London SEI 9PD. The results of HSF Assist Limited are detailed below: 2024 2023 PROFIT AND LOSS ACCOUIYT Premium income Helplines and counselling Other admin cost5 inc gift aid donation 52.993 (19,472) (8,034) 53,097 (14,143) (6,344) Profit for the year after taxation 25,487 32,610 BALANCE SHEET Net Cu￿ent assets 25.489 32,610 NET ASSETS 25,489 32,610 CAPITAL AND RESERVES Share capital Profit and loss account 25,488 32,609 25,489 32,610

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 RESULTS OF SUBSIDIARIES (continued) HSF health plan (Malta) Limited is a wholly owned subsidiary of The Hospital Saturday Fund. HSF health plan (Malta) Limited, incorporated in Malta (registration number: C 93406), is a health cash plan organisalion. HSF Malta's registered office addres is No. 4 Triq Sant, Andrija, Valletta, VLT 1341, Malta. The results of HSF health plan (Malta) Limited are detailed below: 2024 2023 PROFIT AND LOSS ACCOUNT Premium incorne Claims paid and reinsurance Net operating expenses 81,137 (38,251) (375,768) 25,008 (11,469) (341,588) Balance on the technical account for general business (332,882) (328,049) Investment income and gains Other income 390.738 250,000 346.962 223.948 (Loss) I Profit before taxation 307.856 242.861 (Loss) I Profit for the year after taxation 321.623 255.625 BALANCE SHEET Fixed assets Net current assets Deferred taxation 3,410,307 371,840 23,090 2,732,333 379,910 52,655 NET ASSETS 3,805,237 3,164,898 FUNDS General reserve 3,805,237 3,164,898 3,805,237 3,164,898 GRANTS Grants to Institutions Grants to Individuals Support Costs 2024 Total During the year the following grants were made: Medical charities Hospitals and hospi¢es We]f￿e grants to individuals Other medicaVw¢lfar¢ r¢lated organisations 1,525,845 137,242 78,175 6,132 15.249 1,396 1,604.020 143.374 356.540 32,631 341,291 31,235 1,694,322 341,291 100.952 2,136,565 Grants to Institutions Grants to Individua15 Support Costs 2023 Tolydl During the year the following grdnts were made: Medical charTrties Hospitals and hospices Welfare grants to individuals Other medicavwelfare related organisations 1,800.260 180.244 46,059 4,612 8,568 1,023 1,846,319 184,856 343,459 41,023 334,891 40,000 2,020,504 334,891 60,262 2,415,657 A full list of grants to institutions is available on the Charity website (https:/lhospitalsaturdayfund.orglgrant-updates4. 34

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Charity Group Furniture Fixtures and Fittings Computer Equipment Freehold property Total Total COST OR VALUATION At l January 2024 Additions in year 12,0(Ki 12,000 4,995,000 2.088.671 165,828 7,095.671 165.828 At 31 December 2024 I2,0￿) 12,000 4,995,000 2254,499 7,261,499 DEPRECIATION At l January 2024 Charge for year 12,000 12,000 299,700 99,900 1,770,766 155,735 2,082,466 255,635 At 31 December 2024 12,000 12,000 399,600 1,926,501 2,338,101 NET BOOK VALUE At 31 December 2024 4,595,4(Ki 327,998 4,923,398 At 31 December 2023 4,695,300 317,905 5,013,205 The Company owns a freehold propety at 24 Upper Ground, London SE19PD which is used for the Company's own activities. The property was valued on 18 February 2021, the fair value of the property was £4,995,000 on an open market basis by an independent valuer, Egerton chartered sutveyors. At the date ofthe revaluation, the directors believed the property had a useful economic life of at least 50 years. The directors have reassessed the valuation at 31 December 2024 which has confirn)ed no material change or impairnient. The historical cost as of the 31 December 2024 was £822,500 (2023: £822,500). 10. INVESTMENTS 2024 2023 Group Charlty Group Charlty Market value at l January Additions Disp05als 36,760,996 35,053,243 33,592,343 33,872,056 7,568,215 2,953,194 7,951,500 3,451,424 (7,914,377) (2,522,713) (8,091,358) (3,268,075) 2,857,788 858,660 3,308,511 997,838 Unrealised gains Market value at 31 December 39,272,622 36.342,384 36,760,996 35,053,243 Historical cost at 31 December 34,601,828 34,601,828 33,676,166 34,145,995 At market value United Kingdom invesiTnents (listed) Overseas equity investments (listed) Bonds (listed) Property and Infrdstructure (listed) Cash Fund {unlisted) At cost value Investsnent in HSF health plan Limited (unlisted) Investment in HSF health plan (Malta} Ltd (unlisted) 5,117,913 22,670,765 8.284,870 2,589,201 609,873 3,160,914 10,022,842 2,597,365 896,955 4,451,784 22,338,899 7,905,097 1,450,619 614,598 2,905,631 9,860,387 2,622,917 15,865,576 3.798.732 15.865.576 3.798,732 39,272,622 36.342.384 36,760.997 35,053,243 The investtnent in HSF health plan Lirnit¢d represents the reserves of HSF health plan Limited at the point at which the ownership was donated to The Hospital Saturday Fund. The consolidated statement of fmancial activities includes unrealised gain5 of £3,227,361 (2023 gains of: £3,308,511) and realised losses of £551,967 (2023 losses of: £380.426) 35

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 I I. DEBTORS 2024 2023 Group Charlty Group Charity Insurance operation debtors Other debtors Prepayments and accrued income 1,815,968 294,015 763,726 1,565,787 574,012 158,583 14,886 47,942 2.873,709 14,886 2,298,382 47,942 12. CREDITORS: amounts falling due within one year 2024 2023 Note Group Charlty Group Chydrity Insurance operations provision5 Trading operations ¢r¢ditor5 and accruals Other creditor5 and accruals T&xe5 and social security 13 4,188,430 494,852 532,914 (91,210) 4,299.701 270,884 160.590 (49,764) 49,001 156,596 5,124,987 49,001 4.681,411 156,596 13. MOVEMENTS IN INSURAIYCE OPERATION PROVISIONS 2024 2023 Claims Provision Claims provision brought forward (including IBNR) Payments during the year in respect of those provisions Adjustment to prior year's provision Movement in provision during the year 3,414,060 (3,301,694) (112,367) 3,214,753 3,268,276 (3,017,529) (250,747) 3.414,060 Net loss provision Ca￿led forward in respect of outslanding claims 3,214,753 3,414,060 2024 2023 Unearned Premium Provision Unearned premium provision brought forward Premiums during the year in respect of those provisions Movement in provision during the year 885,641 (885,641) 973,677 793.498 (793.498) 885,641 Net loss provision carried forward in respect of uneaTned premiums Net10s5 provision carried forward in respect of insurance operations The provisions detailed above would be expected to be materially realised within six months of the year end due to the natUTe of our bu5in¢ss and the ternis and conditions of our policies. 973,677 885,641 4,188,430 4,299,701 36

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 14. DEFERRED TAXA TION Liability on Property revaluation Short term Fixed a5set- timing differences L055es and other deduction$ Total difference At l January 2024 Profit and105s account Other cornprehensive income (838.323) 66,035 (25,974) (31,283) (10,589) 23,041 (1,832) (780,529) (38,395) At 31 DecembeT 2024 (838,323) 92.009 (41.872) 21,209 (818,924) Llability on property revaluation Short tem timing different Fixed asset - timing differences LK)sses and other deductlons Total At l January 2023 Profit and loss account Other comprehensive income (838,322) (i) 39,891 26,144 11,851 (43,134) 113,651 (90,610) (672,929) (107,601) At 31 December 2023 (838,323) 66,035 (31,283) 23,041 (780,529) Reversal of deferred tax liabilities in respect of property revaluation is un¢¢rtain due to its dependency on prevailing market conditions. In the calculation of the deferred tax the future tax rate of 250/0 has been taking into consideration. The tax charge in the Income Statement is made up as follows. 2024 2023 Corporation tax (see below) Movement on deferred tax provision on property revaluation 6,967 120,364 6,967 120,364 The tax assessed for the year differs from the standard corporation tsx rate in the UK of 25.00/0 (2023: 23.520/0). The differences are explained below.. UK Profit on ordinary activities before tax 2,330,860 758,810 Corporation tax at the standard rate of 25.￿/0 thereon (2023.. 23.520/0) Effect5 of., Amounts not deductible for t&Y purposes Fixed asset differences L055es carried back Dividend and distribution incorne Adjustment to tax charge in respect of previous periods - deferred tax Deferred tax (charged) directly to equity Remeasurement of deferred tax for changes in tax rates to 250/0 Adjustment for profits gift aided to parent, charged to reserves 582,715 178,476 3,961 24,976 3,979 21,597 (86,560) (90,810) 7,122 (518,125) UK Corporation tax on profit 6,967 120,364 37

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 I& DEFERRED TAXATION (eontinued) 2024 2023 The tax assessed for the year differs from the stsndard corporation tax rate in the Malta of 35.000/0 (2023: 35.000/0). The differences are explained below.. Malta Profit on ordinary activities before tax Malta Corporation tax at the standard late of 35.OIY/o thereon (2023: 35.000/0) Effects of.. Amounts not deductible for tax purposes Dividend and distribution income Unrealised gains on investments Prior year adjustment 307,855 107,749 242,861 85,002 .009 23,948 (124,524) (154,860) Malta Corporation tax on profit on ordinary activities (13,768) (12,764) UK Corporation tax on profit on ordinary activities Malts Corporation tax on profit on ordinary activities 6,967 (13,964) 120,364 (12,764) Corporation t&x on profit on ordinary activities 6,997 107,600 15. MOVEMENT OIY FUNDS Atl January 2024 Movement In funds Incoming Resources resource expended Gain5 on Knvestmentsl Property Balance at 31 December 2024 Unrestricted nds General funds Trading funds Transfers 2,629,959 25,458,256 592,703 34,018,400 (2.183,654) (33,833,086) 2,035,613 (2,105,109) 3,074,621 25,558,216 2,019.755 28,088.215 34,611,103 (36,016,740) 2,019,755 (69,496) 28.632.837 Expendable Endowment 17,843, l70 (78,613) 655,640 69,496 18,489,693 Total funds 45.931.385 34,611.103 (36,095,353) 2,675,395 47.122.529 Atl January 2023 Movement An funds Incoming Resources resources expended Galns o Investmeotsl Property Balance At 31 December 2023 Unrestrieted funds General funds Trading funds Tr4nsfers 1,886,977 24,539,265 532.346 31,084,569 (2.144,759) (32,043.200) 2,355,395 (10,228) 2,629,959 25,458,256 1.887,850 26.426.242 31,616,915 (34,187,959) 1,887,850 2,345,167 28.088.215 Expendable Endowment 19.217,523 (69,421) 1,040,235 (2.345.167) 17,843,170 Total funds 45,643.765 31.616.915 (34.257.380) 2.928,085 45.931.385 38

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eonlinued) FOR THE YEAR ENDED 31 DECEMBER 2024 Is. MOVEMENT ON FUNDS {¢ontlnued) Expendable endoivment fund The principal purpose of the expendabl¢ endowment fimd is to provide a capital b&se frorn which income is earned to fu)ance the grant making activities. The Trustees have the tK)wers to approve expenditure from the expendable endowment capital in certain circumslances however these are likely to be limit¢d to grant making activity wher¢ unrestricted reserves are known ￿ be insufficient to meet the cost of particular grants specifically approved by the Trustees. Transfer of funds represents the gift aid donation from trading subsidiaries to The Hospitsl Saturday Fund and the drawdown of expendable endowment to fund grdnts awarded in the year. The Reserves Policy is to maintain the Expendable Endowment at a level no less than £5m and no greater Ihan £22m. The charity received large gift aid donations in 2021 & 2022 for the profits made by the trading subsidiary HSF health plan Ltd in the trading years of 2020 & 2021, which was due to the exceptional circumstances that resulted from the Covid-19 pandemic. However, given we are forecasting that the effect of the current inflation situation and unstable economic conditions will likely result in quite low gift-aid donations over the next three years, also as the largest of the three trading subsidiaries has committed to upgrading its Policyholder Database to improve the level of service provided to its customers, the Trustees are not expecting a large increase in the grant making as a result of the 2021 gift aid. Therefore, this will be used to fund the next three years, grant making this is evident in this year where there is a £2.Om drawdown transfer to fund the grant making in the year. Trading fund The principal purpose of the trading fund is to generate and provide income to the charity through its trading subsidiaries activities. The fund represents the current balance sheet value of HSF health plan Limited, HSF Assist Limited and HSF health plan (Malts) Ltd. 16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Unrestrlcted funds General Trading Fund Fund Total Funds Expendable Endowment Fund balanees at 31 December 2024 are represented by Tangible fixed assets Investments Cash at bank and in hand Net current assets Def¢￿ed tax 4,923.398 39,272,622 5,996,710 (2,264,125) (829,552) 4,923,398 22,594,546 1,110,598 {2,230,011) (829,552) 16,678,075 1,811,618 3,108,735 (34,114) Total Net Assets 47,133,167 3,074,621 25,568,854 18,489,693 Unrestricted funds General Trading Fund Fund Total Funds Expendable Endowment Fund balanees at 31 December 2023 are represented by Tangible fixed assets Investments Cash at bank and in hand Net cu￿ent assets Deferred tax 5,013,205 36,760.996 7,101,472 (2,163,761) (780,529) 5,013,205 21,372,062 1,908,625 (2,055,107) (780,529) 15,388,935 2,454,236 2,738,611 (108,653) Total Net Assets 45,931.383 2,629,958 25,458,256 17,843,171 The Trading and Total Funds includes non4istributsble reserves of £Nil (2023: £Nil) due to inclusion of the revaluation reserve. The balance on the revaluation reserve at year end was £7.118,723 (2023: £7,118,723). 17. PENSION COSTS The trading subsidiary, as the employer in th¢ group, makes contributions to group personal pension plans. The assets of the schemes are held Separately from those oftbe group in independently administered funds. The pension cost charge represents contributions payable for the year by the trading subsidiary to the personal pension plans and amounted to £505,048 (2023: £523,623). At the balance sheet date. there were outstanding contributions of £75,337 (2023: £53,562) 39

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 18. OPERATING LEASE COMMITMENTS At 31 December 2024, the Group had annual commitments under operating leases which expire as follows: 2024 2023 Land and Buildings Land and Buildings Other Olher Within one year In the second to fifth years inclusive 3,865 107,210 105,207 20.775 3,462 96,218 134,183 3,865 212,417 24,237 230,401 19. CONTINGENT LIABILITIES No provision has been made for any levy which the trading subsidiary, HSF health plan Ltd may be called upon to pay und¢r the provisions of the Policyholder5 Protection Act 1975 as the likelihood of this arising is considered to be remote. The maximum amount of any such levy in respect of the current financial year would be £336,656 (2023: £306,395), 20. NATURE AND EXTENT OF RISK ARISING FROM INSURAIYCE CONTRACTS Thi5 section has been broken down in to the key natures of risk arising, these are Market, Underwriting, Counterpaty Default, Operational and Insurance. Market Risk Key Risks The key drivers of the charge are asset class spread and equity risks. HSF health plan's asset portfolio contains a relatively conservative mix of bonds and equities. Controls To minimise risk and secure long terni growth and inflation protection a diversified spread of assets in the fom of property, equities, fixed interest securities, pooled funds and bank deposits are held currently using two fvnd managers, three banks, the High Court of Ireland and HSF itself. No derivatives, Options, or stock loans are unde￿ritten or directly held, although some pooledthedge fijnds will have some exposure. Risk Appetite HSF health plan's appetite for market risk is relatively medium to low. The tolerance limits for Market Risk are detailed in HSF health plan's Risk Appetite document. As at the date of this report, there are no known breaches of market risk tolerances and the business is expected to remain within appetite over the life of th¢ busin¢ss plan. Underwriting Risk Key Rlgks Unexpected increase in Claims frequency or deterioration in reserves Inadequate identification of current and emerging underwriting risks Sustained soft market resulting in falling premium rates resulting in inadequate volurne of business to support operations Controls The short-tailed nature of its liabilities offer a predictable and stable book of reserve5 which render a risk profile commensurate with its risk appetite. The main driver of HSF bealth plan's Underwriting risk is the exposure to catastrophe risk which is generated due to the health nature of the insurance policies sold. HSF health plan has robusl underwriting controls to mitigate its exposure under catastrophe risk and align it to its risk appetite and strategic business plan. Re-Insurance was used to remove all risks associated with the personal accident as a third paty underwrites this while this was insured by a third party. This remained in place until the 31 January 2021, after this date the L￿derwrIting of the personal accident was brought inhouse to the company. due to this being similar to existing underwriting risks it was not as5es5ed as a significant risk and continues to be. Risk Appetite As at the date of this report, there are no known breache5 of underwriting risk toleTances and the business is expected to remain within appetite over the life of the business plan. Counterparty Default Risk Risk Capital HSF health plan's Counterpaty Default Risk (CDR) draws a capital charge of just under £0.5m (2023. just under £0.5m), which equates to approximately 250/0 of its undiversified capital charge. 40

THE HOSPIT AL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 20. NATURE AND EXTENT OF RISK ARISING FROM INSURANCE CONTRACTS (continued) Key Risks The main driver of the CDR 15 HSF health plan's cash at HSBC, Lloyds Bank. AIB. UBS. Brewin Dolphin and LGT W¢alth which is unrated. Controls Monthly reviews of broker balances Semi-annual asset allocation review Risk Appetite HSF health plan's tolerance I1￿esholdS for CDR is documented in greater delail in its Risk Appetite document. As at ihe date of this report, there are no known breaches of CDR risk tolerances and the business is expected to remain within appetite over the life of the business plan. Operational Risk HSF health plan's policy is to maintain an acceptable balance between the risk of operational failures, and the need to operate efficiently and prudently to ensure that contributions represent good value for money to policyholders. Appropriate precautions are taken to managelcontrol risk here, and compliancelintrnallbusiness audits are undertaken from time to time on malerial activities and areas of potential concern. This is deemed to be adequate given the nature, scale and complexity of HSF health plan's business. Sensitlvity Assumptions and sensltivities The risks associated wilh the non-life insurance contracts are complex and subject to a number of variables, which complicate quantitative sensitivity analysis. The Company uses several statistical and actuarial techniques based on past claims development experience. This includes indications such as average claims cost, ultimate claims numbers and expected Ioss Tatios. The key methods used by the Company for estimating liabilities are expected loss ratio and benchmarking. HSF health plan's management has considered a number of stress and scenario tests designed to provide a reasonableness check of the core-modelled results and more generally, the Risk Management Framework. A key test was performed to deternline whether losses resulting from any of ihe extreme events scenarios (assumed to be equal to or greater than l in 200 year events) would require capital holding in excess of the Solvency Il Standard Fonnula model output; and hence whether HSF h¢alth plan would ne￿ to either increase its capital buffer or alt¢r its modelling methodology and assumptions. These tests are intended to be pragmatic illustrations of the major impact of an extreme adverse event or events rather than an attempt to model every possible consequence. ProfiULoss before tax 2024 2023 Accumulated Fund 2024 2023 Before sensitivities 2,330,860 638,446 22,024,691 21,766,331 Reduction in business volumes by 15 % (2,718,675) (3,957,476) 16,975,156 17,170,409 Reduction in investment market values by 25 % (3,614,050) (5,082,811) The conclusion from these tests was that HSF health plan currently holds adequate capitsl to absorb the shock from various extreme natural catastrophic events, which it is exposed to on a net basis from writing health insurance. In all the scenarios tested (which can be deemed to be extrelne and fall under stress tests), HSF health plan remains solvent and fulfils obligations to its policyholders. However, if such events did occur HSF health plan may need to raise further capital. introduce reinsurance. or reduce operations. 16,079,781 16,045,074 41

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 20. NATURE AND EXTENT OF RISK ARISING FROM INSURANCE CONTRACTS (eontlnued) Insknrance Risk HSF'S policy is to offer no insurance policy or renewal options beyond a month or two. and to manage the benefitlcontributions levels to achieve over the long tenn a small surplu5 of contributions over claims and business costs. The Company has a risk associated with the claitns technical provision which is calculated b￿¢d on the requirement for claims to be submitted within 6 months of the date of treatment. by using two previous year's figures analysis to produce a trend and utilise this trend to calculate the cUr￿nt year's provisions. From 2021 there has also been an inclusion in the claims technical provisions for the Personal Accident claims following this coming in-house in February 2021. Due to this being a new area of business for the company and also due to the larger value differences between claims the provision has utilised 4 years of historical data to generate a weighted average which is then multiplied by the number of open claims at the year end with a ￿rther inclusion of an additional value for claims which have been incurred but not received. Concentration The Company writes non-life insurance on a monthly renewable base. The Company's primary insurance risk exposure is pandemic risk from widespread diseases. The concentration of non-life insurance by type of contract is summarised below by reference to liabilities.. Gro55 claims 2024 2023 Direet Insurance 24,628,598 23,295,261 24,628,598 23,295,261 21. FINANCIAL RISK MANAGEMENT Liquidily Risk- HSF health plan Limlted only The objective of the Company in managing liquidity risk is to ensure that it can meet its financial obligations as and when th¢y fall due, The Company expects to meet its financial obligations through op¢rating Cash flows. The following table shows details of the expected maturity profile of the Company's undiscounted obligations with respect to its financial liabilities and estimated cash flows of r￿QgnISed insurance and participating investment contract liabilities. Unearned premiums are ex¢luded from this analysis, This table includes both interest and principal cash flows. 2024 Less than I 1-3 months 3 months to I month yevdr 1-5 years 5+ year5 Totsl Trade and other liabilities Outstanding claims 443,440 455,108 443,440 3,207,342 1,452,128 1,300,106 1,452,128 1,300,106 898,548 3,650,782 2023 Less than I 1-3 months 3 months to I month year 1-5 years 5+ years Tolal Trade and other liabilities Outstanding claims 867,529 484,009 867.529 3,411,953 1,590.361 1,337.583 1,590,361 1,337,583 1,351,538 4279,482 42

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 21. FINANCIAL RISK MANAGEMENT (eonlinued) Credit Risk- HSF health plan Limited only The objective of the Company is managing its credit risk exposure 15 to ensure risk is managed in line with the Company's risk appetite. The Company has established policies and procedures in order to manage credit risk and methods to measure it. The Company's maximum exposur¢ to Credit risk for insurance rKeivables would b¢ 15 /• of net premiums earn¢d, £4.983.396 (2023: £4,584,787). The following table shows the carying value of assets that are neither past due or impaired and the ageing of assels that are past due but not impaired. No assets have been impaired. Credit Risk as at 31 Neither past Past due less Past due 31 Past due Past due December 2024 due nor than to 60 days 61 to more than impaired 30 Days 90 days 90 days Tolal Insurance receivables 1,475,208 340,724 1,815,932 1,475,208 340,724 1,815,932 Credlt Rlsk as at 31 December 2023 Nelther past Past due le$8 Past due 31 Past due Past due due nor than to 60 days 61 to more than Impalred 30 Days 90 days 90 days Total Insurance receivables 1.324,263 241,524 1,565,787 1,324,263 241,524 1,565,787 Market Rtsk- HSF heglth plan Limited only The Company is exposed to price risk arising from fluctuations in the value of financial instruments because of changes in mark¢t pric¢s and th¢ risks inherent in all investments. The Company has no significant concentration of price risk. The Company maintaining an appropriate mix of investment instruments to manage the risk. The Company's sensitivity to a 0.50/0 increase and decrease in market prices is as follows.. 2024 2023 0.5Q/o increase Movement in bonds Movement in equilies 23,839 61,763 22,950 67,176 0.5 % decrease Movement in l)onds Movement in equities (23,839) (61,763) (22,950) (67,176) The Company's method for sensitivity to interest rate fluctuations has not changed significantly over the year.

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 21. FINANCIAL RISK MANAGEMENT (continued) Fair Value Finydncial instruments carried at fair value The following table presents the carrying value of financial instruments measured at fair value at the end of the reporting period across the three levels of the fair value hierarchy defined in FRS 102 para 34.22, Financial Instruments.. Disclosures, with the fair value of each financial instrument categorised in its entirety based on the lowest level of input that is significant to that faiT value measurement. The levels are defined as follows: Level l (highest level): fair values measured using quoted prices (unadjusted) in active market5 for identical financial instruments Level 2.. fair value measured using quoted prices in active markets for similar financial instruments, or using valuation techniques in which all significant inputs are directly or indirectly based on observable market data Level 3 (lowest level): fair value measured using valuation techniques in which any significant input is not based on observabl¢ market data Equities Bonds Other Cash Funds 12,352,516 4,767,869 ,453,981 609,873 12.352,516 4,767,869 ,453.981 609,873 Totsl Financial Instrnments 19,184,239 19,184,239 The carrying arnounts of the financial instruments ¢arried at Cost or amortised cost approxlmate to their fair value mainly because of the short maturity of those instruments. Currenry Rlsk Foreign currency risk, as def￿ed by FRS 1021103, arises as the value of future transactions, recognised monetary assets and monetary liabilities denominated in other currencies fluctuate due to change5 in foreign exchange Tates. The company currently does not hold monetary assets denominated in currencies other than the EUIL the functional currency.

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS (eontlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 31 December2024 USD Exposure EUR Exposure CHF Exposure SGD Exp)sure HKD Exposure IPY Exposure SEK Exposure Exposu F(nanclalAssets Cash and cash equlvalents Land & Buildlngs Tangible Flxed assets Debtors 6,778,396 5,639.775 1,51£ 266.295 220,628 112,836 70,720 65.711 249,159 468.620 79.042 1,680,441 31 December2023 USD Exposure EUR Exposure CHF Exposure SGD Exposure HKD Exposure SEK Expo$uTe Exposure Exposure FlnancSalAs$ets Cash and cash gqulvalents Land & Buildlng5 Tan¥ble Fl¥ed a5$ets Debtors 5,811.855 5,620,880 8.215 1,097,446 457,828 159,707 173,688 369,750 80,546 1,519,484 The Company's sensitivity to a l.OO/o increase and decrease in exchange rate against GBP is as follows: USD EUR CHF SGD HKD IPY Exposure Exposure Exposure Exposure Exposure Exposure SEK Exposure CAD Exposure Iq6 lThcrease In ratevs GBP 2024 67,799 76,656 2,208 1,128 707 657 2.492 4,686 2023 58,181 83.184 4,578 1.597 1,737 3.698 1% decrease In rate vs GBP 2024 167,7991, 176,6561. 2023. 158,1811. 183,1841. 12,2061" 11.1281, 17071. 16571. 12,4921. 14,686. 14,5781 11,5971 11.7371. 13,698. 22. CAPITAL MANAGEMENT The objective of the Company in managing its capital requirements is to ensure that it will be able to continue as a going concern and comply with the regulators, capital requirements of the markets in which the Company operates, while maxirnising the return to HSF health plan Ltd through the optimising of the capital, The capital structure of the Company consists of r¢s¢rv¢s. The Company was in ¢ompli8nce with capital requirements imposed by the regulators throughout the financial year. The capital requirement of the Company is deterniined by its exposure to risk and the 501vency criteTia established by management and statutory regulations. The table below sets out the statutory minimum capital requirement and the Company's available capital. 2024 2023 Statutory minimum capital requirement Total available Capital resources 2.817.099 2,981,432 22,024.691 21,766,331 Statutory Minimum Capital Solvency Cover 0/0 7820/0 45

THE HOSPITAL SATURDAY FUND NOTES TO THE FINANCIAL STATEMENTS {eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 RELATED PARTY TRAIYSACTIONS No trustee or other peTson related to the charity had any personal interest in any contract or transaction entered by the charity during the year (2023: £Nil). The charity received Gift Aid donations during the year from its trading subsidiaries totalling £2,072,500 (2023: £10.228). 24. POST BALANCE SHEET EVEIYTS There were no significant post balance sheet events. 46