REGISTERED COMPANY NUMBER: 06848059 (England and Wal8B) REGISTERED CHARrrY NUMBER: 1129924 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 FOR THE VIRTUAL DOCTORS virtual doctors
TABLE OF coKfEs TRUSTEES REPORT.......................... .................................................................. &13 INDEPENDENT EXAMINEA'SREPORT..................... 14 STATEMENTOF FINANCIAL ACTIVITIES............................................................. 15 BALANCE SHEET................................................................................................... 16 NOTES TO THE FINANCIAL STATEMENT............................................................ ... 17-21
TRUSTEES REPORT 2024 The Trustees who are also directors of the Charity for Ihe purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 st December 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). The Trustees are satisfied that Ihey have complied with the duty in section 17(51 of the Charities Act 2011 to have due regard to public benefii guidance published by the Commission. 1. A Message from the Chalr of th8 Board As we close 2024,1 remain deeply encouraged by Ihe progress made by The Virtual Doctors in delivering our mission to improve access to quality primary healthcare in rural Zambia and Malawi. While Ihe year brought expected challenges, including a major technology transition, it has also been marked by meaningful innovation, enduring partnerships, and the steady expansion of our impact. A significant highlight was the successful launch of our new Virtual Doctors App. Though Ihe transition phase briefly affecled case volumes, this new platform represents an essential step forward in strengthening our seNice delivery, enabling better data, streamlined referrals, and a more scalable model for the future. Early signs of recovery are promising and point to the commitment and adaptability ofthe clinicians in country and volunleer doctors. Our Mlsslon Our mission remains the same: to improve a¢$$ to primary healthcare in rural Africa, reduce unnecessary referrals to distanl hospitals. and enhan the medical skills of
rural health workers. This is achieved by connecting clinical offirS in Zambia and Malawi with UK volunteer doctor5 via our proprietary app.
Refledons on key achlevements and challenges As always, ourachievemenls are rooted in partnership. I would like to express heartfelt thanks to the Ministries of Health in both Zambia and Malawi, whose support and collaboration remain central to our work. The clinical offir$ on the ground continue to show inspiring dedicalion in serving remote communities, often in incredibly challenging conditions. Likewise, our UK-based volunteer doctors offer their time and expertise with generosity and professionalism. often responding to complex cases that would otherwise need referral to district health centres. This year also saw Ihe strengthening of collaborations with organisations such as Johnson & Johnson, AO Allian, Oncall Africa, and several new technical and training partners, enabling us to deepen the scope and quality of our clinical support. These partnerships are essential lo how we expand our reach and support remole clinical officers, as they serve patients in their care. I would also like acknowledge the steady and thoughrful leadership of our Executive Director, James Phiri, whose work in guiding the charity through change has been exemplary. My thanks extend equally to our small but dedicated team in Zambia, our committed Boards of Trustees in both Zambia and the UK, and our network of donors and supporters, each ofwhom plays a vital role in this shared effort. VISI( for the future Looking ahead to 2025, we are exciled aboul the opportunities to enhance our telemedicine capabilities through the integration of tools like Ihe Arclight devi, strengthen dislrict-level referral systems, and continue investing in the systems and people that make Ihis work possible. At its heart, The Virtual Doctors is a story of solidarity, of people working iogether across borders to close the gap in healthcare access. I remain humbled by the impact we are able to make, and hopeful about the path ahead. Nagglb Chakhan8 Chair of the Board of Trusleas
- Ex8CUtlv8 DIrt08 Report Operational Ov8rvi8W the Virtual Doctors continues to provide vital telemedicine services to isolaled health cenlres in rural Zambia and Malawi. Through our smartphone app, local clinicians consult with volunteer doctors, ensuring better diagnosis and treatment in areas where medical support is limited. We remain focused on improving primary healthcare and reducing unnecessary hospital referrals by empowering local health worker5 With timely and expert advi. SlgnSficant Projects and Inltlatlv8S The new Virtual Doctors App was launched in Q3 of 2024 and it has enabled us to onboard and communicate with clinicians much more easily than before. The process of distributing the software, onboarding clinicians and submitting cases is efficient and easier to manage for clinicians and doctors alike. We plan to provide mobile phone access for responding doctors as we continue to enhan the app. They are currenlly restricted to web-portal access. We are very grateful to the volunteer IT team from Landmark Group, led by lan Clark and Lavan Nallainathan, as well as Terry Cann, who lirelessly developed and supported the previous versions of the app over many years. Their efforts created the pathway for our volunteer doctors to support Ihe lives of people who do not have direct a$$ lo a doctor in their communities. l am pleased lo report Ihal the new app has significantly improved case managemenl and data analylics, enhancing the qualityofour seNices. Inevitably, we have had some teething problems with the new system. but we continue to be supported by our software development partners and, so far, the process has been highly posttive.
Case Referrals In 2024, our volunteer doctors reviewed 2.586 medical cases, representing an 18Y. decrease compared to the previous year. In first half of the year the case numbers were 1600kn higher than the same period in 2023 but the second half, which has the transilion project for the new app, was 55% lower. As I write Ihis report, I can confirm that Ihe recovery was evident in Q1 of 2025 (50°kn higher than Q1 of 2023), reflecting the successful completion of the transition phase and clinicians becoming more familiar with the new app. 2019.. 2,049 cases 2020.. 2,980 cases 2021.. 3,142 cases 2022.. 1,888 cases 2023.. 3,162 cases 2024.. 2,586 cases Key Partnerships and Collaborallons We continued to work closely with the J&J and AO Alliance to deliver specialized training for Orthopaedic Clinical OffirS in Malawi throughout 2024. We partnered with Oncall Africa in Zambia to expand to additional clinics that Ihey support in Zambia's Southern province and we started conversations on partnering wilh tt)e Health and Infomiatics Association of Malawi on working togeth8r on expansion in Malawi. In August - September 2024 we took a team of medics on a 2,OOOkm plus journey across Zambia vi51ting some of the clinics we support and delivering trauma Iraining and snake-bite training to clinicians. To deliver this project we partnered with SOLIGHT, who helped us deliver solar lanterns to clinics. We also had several sponsoring organisations that included the Scientific Exploration Society, Promelheus Medical, CELLAED, GRAY. Proton DX and Barbet Zambia.
Plans for Next Year Looking ahead to 2025, we plan to strengthen our support for Ophlhalmic and Ear Nose & Throat cases with the Arclighi project, SUPFX)rted by the Sir Stewart Halley Trust and in partnership with the University of St. Andrews Arclight project, led by Dr Andrew Blaikie. The aim is to include the Arclight device. a medical diagnostic tool, that combines a direct ophthalmoscope, anterior segment loupe and otoscop8, in the telemedicine toolkit of the Virtual Doctors telemedicine system. The Arclight is an innovative device that is suited to low resource seltings and can be used to send images for specialist diagnostic advice, enhancing the images that are currenlly only possible with a mobile phone camera on our standard service. One of the benefits of having the new Virtual Doctorfs app is that we can finally map our referral process onto the Zambia and Malawi Ministries of Health case escalation processes. This will enable us to onboard local doctors who, because of their heavy caseloads, might only be able respond to cases from their districts. Previously, our system could only triage cases by specialty not by dislrict or provin. We believe this added funclionality will support clinicians in treating more patients al the rural health centre or indeed to have them refeed to a higher-level facility with better information for the receiving health practitioner. James R. Phlrl ExeoJtlv8 Director Septsmber 2025
- Stnthr8, Govemance, and Management James R. Phiri, the charity's Executive Director is supported by a conlracted fundraiser and a Fundraising and Administration Assistant. The Offi is also supported by pro bono partners. volunteers, and consultants for specific engagements as required. In Zambia there are 4 full time staff, supported by 2 interns and a team of volunteers. Volunteer Trustees are also involved in providing extra time for fundraising, policy development and public speaking to support Ihe Executive Director. Board Govemance The Board of Tnjstees is responsible for overseeing governance, policy. strategy, and financial managemenl of the charity. The appointment of new Trustees is at the discretion of the current Board. in accordance with the Charity's Constitution, which limits the number of new Trustees to per year. In 2024, the Board held six formal Trustee meelings, during which operational matters were regularly discussed with the Executive Director, Medical Director and fundraising team. The Board comprises TSteeS wilh expertise in areas including non-profit management, finance, accountancy, medicine. public health, global business, and technology, and fundraising. Trustees typically seNe a term of three years, subject to review. The charity actively recruits Trustees with skills relevant lo its work and priorities. All prospective Truste8s are required to provide references, and a register of conflicts of interest is maintained to ensure transparency and integrity. During the year, Mr Graham PreY and Dr Isabelle Widmer stepped down as Trustees. while Dr Daniel Gra joined the Board of Trustees. Mr Graham Precey served as Chair of the Board of Trustees until March 2024. During his tenure, the Charity was able to secure funding for developing The Virtual Doctors, Sofare, navigate the risks associated with selecting a software partner and assemble a project
team to oversee and implement the project. Dr Widmer was pivotal to thai project team, along wilh Mr Terry Cann and Mr David Holslead and Mr Sandy Johnston. Their contribution and leadership have provided a solid foundation on which to build the next phase of The Virtual Doctors seNice. In March 2024. the Board Trustees appointed Mr Naggib Chakhane as Chair. The following Trustees were in place throughoul the year: Mr Graham Precey Mr David Dutton Trustee & Chair (resigned March 2024) Trustee Mrs Kathy Burke Mr Naggib Chakhane Dr Isabelle Widmer Twstee Trustee Trustee (resigned September 2024) Trustee & Treasurer Mr David Callcott Dr Daniel Grace Trustee (appointed June 2024) Other Parties Independent Examiner: Parkers. Comelius House, 178-180 Church Road Hove, BN3 2DJ Bankers.. Co-operative Bank, PO Box 250, Delf House, Skelmersdale. WN8 6 Charity Registered Offi Sussex Innovation Centre, University of Sussex Falmer, Brighlon BN19SB 10
Strategy and Management The Virtual Doctors remains committed to delivering high-quality telemedicine setvices to rural communities in Zambia and Malawi, aligned with our mission lo improve access to healthcare in underserved regions. In 2024, we focused on completing our digital infrastructure enhancement project and rolling out our new telemedicine app, expanding partnerships with the Ministries of Health in Zambia and Malawi, local health professionals. and increasing the reach of our services to more remote areas. The new app will enhan our service by enabling our volunteer doclors to respond to cases using mobile phones and mapping the referral prOs$ lo in-country practices. The latter will finally enable us to facilitate a tailored seNice for local doctors as well as our international volunteer doctors and specialists. We firmly believe that our service should be guided by the needs of the in-country Ministry of Health and their clinicians. Our slrategic goals include sustainable growth through collaboration with key stakeholders, continuous improvement of our lechnology, and ensuring the resilience of our servi$ in the fa of changing healthcare needs. The Board of Trustees actively monitors our performance and compliance with the Charity Commission's guidelines, ensuring strong govemance and efficient use of resources to maximise our impact. Risk Management Risk management is a key responsibility of the Board of Trustees of the Virtual Doctors, ensuring that potential risks to the charity's operations, finances, and reputation are idenlified, assessed, and mitigated in line with the guidan provided by the UK Charities Commission. The Board regularly reviews both external and internal risks. including those related to the delivery of telemedicine services in rural Zambia and Malawi. Following best practice, we have established clear processes for risk idenlification, analysis, and monitoring, incorporating oversight into our strategic planning.
This approach ensures thal we protect our beneficiaries. stsff, and resources, whlle maintaining operational resilience and compliance with regulalory obligations. By embedding risk management into our governance framework. we aim lo create sustainable and secure future for our services. Il 4. FINANCIAL SUMMARY Financial Management The Executive Director, in collaboralion with the Treasurer and Board, ensures rigorous financial oversight and slrong governance across all operations. A professional accountant maintains detailed, transparent records of all funds. including those allocated to our vital work in Zambia and Malawi. Each month. the Executive Director and Treasurer provide the Board with comprehensive operational scorecard. facilitating strategic review and proactive decision-making. These measures reinforce our commitment lo 12
accountability, ensuring that every pound is effectively utilised to maximise our impact in the communtties we serve. Key Financials Income for the year totalled £243,395 while operating costs tolalled £285,689 resulting in an operating deficit of £42.294. The cost of raising those funds was 12% in 2024. As at 31 Dernber 2024 the Charity's free reseryes were £94.152. Our Reserves Policy cuentlY recommends the holding of free reserves greater than 26 weeks of operation costs, but less than 52 weeks. This policy is regularly reviewed to ensure it is appropriate. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. -, ¥I4(.,.f Zo'2r Approved by Board of Trustees on .............................................and signed on its behalf by: David Callcott - Tnjstee 13
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE VIRTUAL DOCTORS Indep examlnefs report to the trusta8s of Tha Virtual Do(kns Cthe Cornpan I report to the charity trustees on my examination of the accounts of the Company for Ihe year ended 31st December 2023. ResponsIbll8S and basls of rep(¥t As the charity's trustees of ihe Company land also ils directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act,). Having satisfied myself that the accounts of the Company are not required io be audited under Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect of my examinati( of your charity's accounts as carried out under Section 145 of the Charities Acl 2011 Ilhe 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under Section 14515) {b} of the 2011 Act. Independ8nt examine¢s ststement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giviro me cause to believe: accounting records were nol kept in respecl of the Company as required by Sedion 386 of the 2006 Act. or 2. the accounts do not acc with those records., or 3. the accounls do not comply with the accounting requiremenls of Section 396 of the 2006 Act other than any requiremenl that the accounts give 8 true and fair view which is not a matter considered as part of an independent examinalion. or 4. the accounls have rK)t been prepared in accordan with the methcxls and principles of the Statement of Recommended Practice f(x accounting and reporting by charilies {applicable to chartties preparing their accounts in accordance wih the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)}. I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in this report in order lo enable a proFer understanding of the accounts to be reached. Annette Watson PhD Bsc FCA Parkers Cornelius House 178-180 Church Road Hove East Sussex BN3 2DJ Date: ... 14
THE VIRTUAL DOCTORS STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 Total funds 2023 Total funds Unreslricled Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 210,443 32,323 242.766 128,605 Inveslrnenl income 629 629 1,355 Total 211,072 32.323 243 395 129,960 EXPENDITURE ON Raising funds 28,267 28,267 23,987 Charitable activiti Virtual Doctors Service 179.289 78,133 149,515 Total 78,133 285 689 173.502 NET INCOMEIIEXPENDITUREI 3.516 145,810) 142.294> 143.542} RECONCILIATION OF FUNDS Total fvnds brought forward 92,223 311,566 403,789 447,331 TOTAL FUNDS CARRIED FORWARD 95.739 265,756 361,49S 403,789 The notes fom part of these financial slalements Page 15
THE VIRTUAL DOCTORS BALANCE SHEEr 31ST DECEMBER 2024 2024 2023 Notss FIXED ASSETS Intangible a55ets Tangible assets 200.340 211,500 201.927 214.272 CURRENT ASSEts Cash at bank 232,293 221,67S CREDITORS Amounts falling due within one year (72.725) (32.158) NET CURRENT ASSETS 189517 TOTAL ASSETS LESS CURRENT LIA81LITIES 361,49S 403,789 NET ASSETS 361495 403,789 FUNDS Unrestricted funds Restricted funds 10 95,739 92,223 311 566 TOTAL FUNDS 361495 403 789 The charitable Corrpany is enlitled to exetion from audit under Section 477 of the Companie5 Act 2006 for the year ended 31st December 2024. The members have not required the corr¢)any to ottain an alt of its financial statements forthe year ended 31st December 2024 in accordance with Seclion 476 ofthe Companie5 Act 2006. The trustees aCknOwge their resportsitrAlities for (a) ensuring that the charitable company keeps aountirVJ records that compty wtth Sections 386 and 387 ofthe Companies Act 2006 and (b) prepallng finan31 statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its Surplus or d8fictrt for each financlal year In accordan with the requirements of Sections 394 and 395 and which otheise compty with the requirements of the Companies Ad 2006 relating to finanual statements. so far as applicable to the charitable company. These financial statements have been prepared in accordance wilh the provisions aptAicable to charitable companies subject to the small companies regitTh. The financial statements were approved by the Boafd of Trustees and authorised for issue on . and were signed on its behalf by.. D Callcott- TTUStee The notes form part ofthese financ4al statements Page 16
THE VIRTUAL DOCTORS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES Basls of prepadng the financlal statements The financial statements of the charitable company. which is a public benefit enlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable lo chafiltes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,, Financial Reporting Standard 102 'The Finaneial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The charitable company has taken advantage of the following disclosure exemptions in preparing these financial stalemenls, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.: the requiremonts of Soction 7 Slatemenl of Cash Flows., the requirement of paragraph 3.17ldl', the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.481alliiil, 11.48{allivl, 11.48lb) and 11.48lcl, the requirements of paragraphs 12.26, 12.27, 12.29lal, 12.29lbl and 12.29A., the requirement of paragraph 33.7. Preparation of consolidatgd financial statements The figures for VDrs Zambia Ltd have not been consolidated into these accounts as the incomes are below Tequired thresholds. Zambia is limrted by guarantee, $0 VDrs UK holds no shares, bul ha5 a conlrolling interest through membership. Income All income is recognised in the Statement of Financial Activi(ies once the charity has enlf(lemonl lo the lunds, fi is probable that the income will be weived and the amount can be measured reliabty. Expendituro Liabilrties are wognised as expenditure as Soon as there is a legal or conslruclive obligation committing the ¢h8rity lo that expendrture, il is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligalson can be measuTed reliab5y. Expenditur8 IS accounted for on an accruals basis and has been classrfied under headings that ag9regate all cost related lo the category. Where costs cannot be directly allributed to particular headings they have been allccaled lo activities on a basis consislenl wjth the use of reUrCeS. Grants offered subject to conditions which hav8 not boen met al th& year end dale are noted as commitment but not accrued as expendituie. Tangible flxed assets Depreciation is promded al the foltowing annual rates in order to wrrte off each asset over ils eslimaled useful life. Fixlures and fittings Computer equipment 330A on cost 330A on cost Taxation The charity is exempl from corporation tax on ils charitable activities. Fund accountlng Unreslrided funds can be used in accordance with the ¢haTilable objectwes at the discretion of the trustees. Reslricled funds can only be used for particulai reslricled purpose5 within the objects of Ihg Charity. Reslriclions arise when specrfied by the donor or when funds are raised for particular restricted purposes. Page 17 continued...
THE VIRTUAL DOCTORS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POUCIES- continued Pension costs and other post4etlrement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged lo the Statement of Financial Activities in the period lo which they relate. INVESTMENT INCOME 2024 2023 Deposrt account interest 629 1.355 NET INCOMEIIEXPENDITUREI Net incomellexpendrturel is slated after Chargin1edrtingl'. 2024 2023 Depreciation - owned assets Computer software amrtisalion 1,185 1,032 TRUSTEES. REMUNEIiATION AND 8ENEFITS There were no trustees, remuneration or other benefits for the year ended 31st December 2024 noT for the year ended 31st December 2023. Trustees, expenses There were no Iruslees. expenses paid for the year ended 31st December 2024 nor for the year erided 31st D8¢ember 2023. STAFF COSTS The average monthty numbef of employees during the year was as follows.. 2024 2023 Project No employegs receive<l emoluments in excess of £60,000. Page 18 continued...
THE VIRTUAL DOCTORS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024 INTANGIBLE FIXED ASSETS Computer software COST Al 1st January 2024 Additions 211.500 34,650 Ai 31st December 2024 AMORTISATION Charge for year 45,810 NET BOOK VALUE Al 31st Deeember 2024 Al 31st December 2023 211,500 Computer SOare costs have not been amortised as the development of the underlying Soare application was not completed until the Current year. TANGIBLE FIXED ASSETS Fixtures and fittings Computer equipment Totals COST Al 1st January 2024 and 31st December 2024 385 DEPRECIATION Al 1st January 2024 Charge for year 385 13.788 14,173 1.185 Al 31 sl December 2024 385 14,973 NET BOOK VALUE Al 31$1 December 2024 Al 31st December 2023 2.772 2,772 Page 19 continued...
THE VIRTUAL DOCTORS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and other taxes Other creditors Accrued expenses 170 1,293 30.695 ANALYSIS OF NEf ASSETS BEfwEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted Restricted fund funds Fixed assets Current assets Current liabilfÉie$ 1.5B7 166,877 72 7251 200,340 65,416 201,927 232,293 72 7251 214.272 221,675 32,1 $81 265,756 361495 403.789 10. MOVEMENT IN FUNDS Nel movement in furnls At 31112124 At 111124 Unrestrlctgd funds General fund 92,223 3.516 95.739 Restrlcted funds Malawi Pilot Fund Bursary Fund 310,905 861 145,8101 265.095 661 TOTAL FUNDS 361495 Nel movement in funds, included in the above are as follows.. Incoming resour¢es Resources expended Movement in funds Unrestricted funds General fund 211,072 1207.5561 3.516 Ro$trScted funds Zambia Expansion Fund Malawi Pilot Fund 32,323 132,3231 458101 TOTAL FUNDS 285 6891 42 2941 Page 20 conlinuod...
THE VIRTUAL DOCTORS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024 10, MOVEMENT IN FUNDS- contlnued Comparatives for movernent in fund$ Net rnovemenl in funds Al 31112123 At 111r23 Unrestricted funds General fund 99,139 {6,9161 92,223 Restricted funds Zambia Expansion Fund Malawi Pilot Fund Bursary Fund App Development Fund 626 346,405 661 500 16261 135,5001 310.905 661 348.192 36,626 TOTAL FUNDS 447,331 43,5421 403.789 Comparative nel movement in funds. included in the above are as follows: Incoming resources Resour¢e$ expended Movement in funds Unrestricted funds General fund 129,960 1136,8761 16,9161 Restrictsd funds Zambia Expansion Fund Malawi Pilot Fund App Devek)pment Fund {6261 135,5001 16261 135,5001 TOTAL FUNDS 129,960 173,5021 43 5421 11. RELATED PARTY DISCLOSURES There were no reL4led party lrans&tior for the year ended 31st December 2024. Page 21