2024-03-31-accounts

Registered number.. 07162518 Charity number= 1143018 LIFEBOX FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l CONTENTS Page Rafgronc8 and administrative d8tails of thg Charity. its Trustees and advisors Tru5tses' report 2-15 Independent auditors. rnport on th• financial statemènts Statsment of financial activitios 16-19 20 Balan¢• sh¢¢t Stat8ment of cash flows 23 Notes to thè financlal Statsmènts 24-40

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 klARCH 2024 Tru$tg9$ Dr Millard Dert)ew Beyene Dr Robert John M¢Dougall Prof Alan Forbes Merry Pauline Mary Philip Dr Nobhojit Roy Dr Th¢ynas Geoghegan Weiser (app￿nted 1 April 20231 Company rggist8red number 07162518 Charity rogl¥tsred numb•r 1143018 Rggl$tsrgd offi¢e 21 Portland Place London W181PY Company Socretary Kristsna Torgeson Independent audltor¥ BKL ALKIit LLP Chartered Accountsnts 35 Ballards Lane London N3 1XW Bankfjrs HSBC Bank UK 90 Baker Street London W1U 6AX Sollcltors Kir*land and Ellis Inlemali¢)nal LLP 30 St Mary Axe London EC3A 8AF Page 1

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT FOR THE YEAR ENDED 31 klARCH 2024 The Trustees present their annual ￿port together the audited finan(ial stslements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wth the current statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Stslement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 2019). Since the Charity qualifie5 as sm811 under section 382 of the Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 20r￿ Islralegic Report and Directors, Reporti Regulations 2013 has been omitted. oblec￿ve9 and actlvbtbes a. Poli¢598 and objg¢tivo$ As slated in the A￿CleS of Association. the objects of Lifebox are.. To preserve and protect the heallh of patsents worlthmde by providing and a$$isting in the provision of equipment and support services in low-resource, lower-middle income and upper.middle income countries, as assessed by the World Bank and Unrted Nations. al no or Tedueed coyt.. and To advance the education in healthcare of the general public and especially those in the medical or similar professions by the provision of education and training Wodd￿de. In setting obje¢tives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, induding the guidance 'Public benefit.. running a charity IPB21'. b. Strategios for achièving objo¢tiv•# As sel out in our charitable objeciives, Lifebox was established to improve the safety of healthcare around the world Ihrough the provision of essential equipment and training, and by implementing proven tools that foster a culture ol teamwork and safety in healthcare environmerts. While we have as our widest point a remrt to work wthin any a￿a of hearth¢8￿ to promote the health and gafely of patients. our focus continues lo be on improving the safety of surgery and anaesthesia. Our efforts lo date have been on three core areas, improving anaesthesia safety. strengthening surgical teamwork, and reducing surgical infection. Since its founding in 2011. Lrfebox has facilitsled the disth"bulion of over 35,000 pulse oximelers across 116 countries, and trained over 14.000 healthcare provideis. More than 252 million patsents have received safer surgery as a resuli of our work $0 far. Page 2

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 Oblo¢￿¥•$ and actlvltl•$ l¢ontlnu•d) c. Activities undertaken to achieve objectives Improving AnaaSth￿Ia Satsty Activities mainly include distributson of devices (pulse oximeters, capnographs and headlights). This also includes training on the use of pulse oximeters arKI capnographs. Roduclng Surglcal Slt• Info¢tlon8 Adivities mainly include the implemenlalion of Ihe Lifel)ox Clean Cut programme. The programme is a series of workshops and trainings designed to reduce $urgical site infections. Promotlng Surglcal Teamwork Activities mainly include providing training to operating room stsff lo promote effective communicats'on in the operating room. d. Volunts•r8 The charity doe5 not use of volunteers as part of its charitable object. e. Maln a¢tlvltles undertaken to further the Ch•rlty'$ purposes lor the publlc b•n•flt One third of human disease requires surgery. Each year 313 million surgical procedures are perfomed worldwde. yel for billion$ of people in low and middle-income countries ILMICSI, these vital procedures are often unsafe. In LMICS. surgical patients are Iw'ce as likely lo suffer from an infection than patients undergoing surgery in the US. Postoperative infections result in a doubling or more of the co$t$ of surgical ¢are and in¢rea$e burdens on patients due to prolonged hosprtalizations and ongoing disabilities. A 2015 study in The Lancel eslimaled that more than 4.2 million deaths occur annually within 30 days of surgery, half of them in LMICS. Posl-surgical complications account for 7.7% of all deaths making them the third greatest contributor to deaths globally. after heart disease an(1 stroke. As a global nonprofit tackling the crisis of unsafe surgery, through tools, training, and partnerships, Lifebox makes surgery and anaesthesia safer worfdwde. Lifebox's activibes fijrther the public benefit in several ways including promoting health, Sawng lives and contributing lo relieving poverty. Page 3

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 A¢hlovem•nts and perfomianco a. Main achievements of the Charity Highlights of this yearfs strategic plan induded launching the new Smile Train-Lifebox Capnograph, delivering Clean Cut in Malaw wth a focus on Long Bone Fracture Trmth support from the Johnson & Johnson Foundation, and finalising our trial around safer caesarean sections. Year Four plans for the Smile Train-LifebDX Safe Surgery and Aneslhesia were suttessfully developed an¢J launched. Activities ¥Mlh Mercy Ships in Liberia wrapped up an impad evaluation. and plans were developed for new programs in Sierra Leone. We were also able to launch Clean Cul in Rwanda thanks to a new donor, the CRI Foundation. Improvlng Ana•stht8la Saf•ty This year, in partnership wth Smile Train, we launched the SMI￿ Train-Lifebox Capnograph to address a major gap in anaesthesia safety in Iowaresource settings. Despite being essential for the sale prowsion of surgery. capnography is virtually absent from Iow•resource setting operating rooms. The Smile Train-Lifebox Capnograph is an affordable. user-lnendly. high-quality device wth sturdy construction and long battery life. The device is dual parameter, providing pulse oximelry alongside ¢apnography. The device meets robust specifi¢ations for the monitoring ol both paedialric patsents and use in Iow-resource settings. and undeThvenl rigorous laboratory and field testing. In September, 97 anlesthesia providers path'cipated in the Smile Train-Lifebox Capnography Workshop in Uganda. held in partnership wlh the Assoualion of Aneslhesiologisls of Uganda IAAUI. 54 capnographs were dtsnaled to the AAU for distribution throughout the country This year 142 capnograph$ were di$tribLrted for safer anaeslhesia moniloring worfdwide and a capnography implementation study was launched in Ethiopia and Somaliland. This year marked the dislnbution of the 35.OOOth Lilebtix Pulse Oximeler wrth donations of devices including Bangladesh, Fiji, Malaw. and Nigeria. Slrgnglhgnlng Suryl¢al Tgamwork We launched the Lifebox Light.. A high44ualty, IowryCOSt surgical headlight for use in I0￿resOUrCe setting operating rooms. Developed in partnership with COAST, the Lifebox Light aims to improve the safety of Surgery where potsr operating rotsm Iighling puts patients al risk. 255 headlights were disth"buled to surgical providers this year. The Lrfebox Light was featured in The Guardian. The Lifebox Nursing Leadership for Surgical Excellence {NLSEI program was finalised for piloting With seven mentors and 12 perioperative nurse Fellows recrurted. The Fellows are leading quality improvement initiatives al three hosprtals in Ethiopia and ￿ in Malawi. The pilot aim5 10 improve perioperative nursing care proces5e5 and practices, and patient outcomes. The global roll out of Team Cleft - the new mulbdisaplinary *Y)rkshop developed wth Smile Train to improve teamwork and communicab'on for safer cleft care - began workshops delivered in Madagascar, Nigeria, Tanzania and India, wth 114 cleft team members trained. Teamwork workshops Continued to be delivere<1 including Safe OR in Honduras, Burundi, and India. More than 1,400 learning opportunities were provided this year for perioper3b.ve providers. Page 4

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 A¢hlovem•nts and perfomianc• 1contlnu￿1 Reducing Suryical Infection The Lifebox Surgical Infection reduction program- Clean Cut- W85 implemented in 27 siles in nine countries with results from several key programs finalised this year. As part of the Smile Train-Lifebox Inrtiative, the Clean Cut for Cleft research pilot completed in Ethiopia and Cote d'lvoire at three Smile Train partner hospitals. The pilot aimed to reduce surgical infection as well as tackle the main complications faced by cleft patient5 such as delayed bleeding and airway compromise. Initial results show Signrficanl reductions in complications for patients. Clean Cul for Cleft was scaled to G.S. Memorial Plastic Surgery Hospital And Trauma Center in India this year. The results for LifeboK's Stepped wedge, duster randomi$ed control trial CLEAN£S - were written up for publication. Results show a significant decrease in the composite outcome of surgical infection and maternal or perinatal mortality. Thi5 work is part of a Bill & Melinda Gales Foundation Grand Challenges Inilialive, funded by UBS Optimus Foundation. The piloting of Clean Cul for Long Bone Fra¢tufe wlh Ihe Johnson & Johnson Global Surgery Initiative in Malaw demonstrated a signffjicanl retjuth'on in surgical site infedion wlh improved use of the WHO Surgical Safely Checklist and instrument slerilisation processes. Lrfebox aims to roll out Clean Cut for Long Bone Fracture to other srteg in Malawi in the coming fiscal year. In Liberia, Clean Cul has been implemented al five srtes since 2021 has demonstrated a risk ￿dUction in inpalienl SSI of nearly half and a risk reduction in inpalienl mortality of nearfy a third. Results are awaiting publication. Clean Cul launched al our first sile in Central America at the natsonal hosprtal of Honduras.. Hospital Mario Calarino Rivas in San Pedro Sula. This work 1$ supported by the IZUMI Foundation. Clean Cul implemenlaty'on began al hospitals in Rwanda. in parthership vAlh the University of Global Health Equity, funded by the CRI Foundation. Implementatson began at the University Teaching Hosprtal of Butare and Kabgayi Level 11 Teaching Hospital. addibonal hospitals - Kirehe and KibDgora to join next fiscal year. Work in Rwanda include5 pilotsng an antibiotlc Stewardship program to tackle antibiob'c over-prescribing in surgery. A study by Lifebo¥ on the wdespread adoption of postoperalwe anlibiolic prophylaxis in low- and middle-lncome countries ILMICS) was published by the British Joumal of Surgery IBJSI tilled 'An observational cohort study on the effects of exiended postoperative anlibiolic Proph￿8x1$ on surgical-sile infections in low- and middle-income countries, ￿lch examined data from over 8,000 patients. A new Clean Cut publication was published in JAMA Surgery %thich demonstrated a 34% relative risk reduction of Surgical sile infection ISSII after implementslion of the Lifebox Clean Cul program. The study 'Scalabilily and Sustainability of a Surgical Infe¢lion Prevention Program in Low-lncome Environments, was based on data from 3.364 surgical patients across seven Ethiopian hospitals. Page 5

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 A¢hlovem•nts and perfomianc• 1contlnu￿1 b. Key perfomiance indicators The key objectives for the period which are used to assess perfom)ance are the following.. Objective 1.. Compliance wth surgical infeckn'on prevention and safety pro¢e$ses is improved in partner faalilies. including cleftlpaediatric and maternity facilibes, resulting in a 30% reducts'on in surgical site infection Objective 2.. Patient monitoring practices are improved in operab.ng rooms and recovery are85 in p8rtner facilitie5 th 10,000 professionals providing safer palient monitoring pulse oximetry andlor capnography Obje¢live 3.. Perioperative teamwork is improved among $urgeon$, anae$thesia providers, nurses and obstetricians and gynaecologists wth eviden￿ of improved teamwork at partner facilities Objective 4.. Evidence of the need for, and impact of, Interventions related lo safer anaeslhesia and surgery is generated, disseminated, and used lo Infomi action. The key deliverable for this objecb.ve Is. len peer-reviewed publications and len abstract presentslions, at least 75 percent of ¥thich have first andlor senior authors from LMICS. ¢. R•vl•w ol actlvltl•s Objective 1.. complian￿ wlh surgical infects'on prevention and safety processes is improved in partner facilities. including deftlpaedialric and matemity fa¢ilth'es, resultin9 in 8 30% reduth'on in surgical srte infection. Lifebox further expanded our surgical site infeclion reduction program, Clean Cul. lo 10 additional hospitsls in 8 countries. Some highlights in¢lude". Clean Cut for Long Bon8 Fracture ICCIL8FI- Malawl.. Successfully s￿led CCfLBF to 2 fa¢ility'e$ in Mala full implementation * Queen Elizabeth Central Hospital IQECHI and trainin9 of trainers at Lilongwe Inststution of Orthopedic5 and Neurology ILIONI hospitsl. Enrolled 257 orthopaedic patienls at QECH, reducing inpatient surgical sile infeth'on rate from 9.57% 10 1.34% anLI overall posl-op infection rates from 24.3% 10 11%. Achieved significant improvements in compliance ￿th all 6 infeth'on prevenlion measures, from 45.3% to 93.8%. Trained 50+ Operab'ng Room staff ￿To$S disciplines ¢)n WHO Surgical Safety Checklist, Infedion Prevention Control, Safe Instruments, and Safe Operating Room. Clean Cut for C-section - Ethiopia: Completed a ￿SIte clinical tn'al evaluth'ng the impact of Clean Cut on C-section outcomes across Ethiopia, showng a 7.7°h change in reducb.on in posl-opeTats"ve infeth.ons (comparing baseline and Intervention). Enrolled 10,666 Obstetrics and Gynaecological patients across 9 hospitals. Change in reduced postoperative infections in C-section5 by 7.7%, obstetn.cal and gynaecological operations by 6.7%, need for ￿OperatIOn by 74.5%. and mortality rates by 62.3%. Trained 222 healthcare professionals across disciplines on WHO Surgical Safety Checklist, Infection Prevention Control, Safe Instruments, and Safe Operating Room. Page 6

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 A¢hlovem•nts and perfomianc• 1contlnu￿1 Clean Cut for Cleft- Ethiopia.. Complemented implementation of the Clean Cut for Cleft pilot in partnership wth Smile Train across 2 facilities, providing care to over 195 deft patsents. Clean Cut- Rwanda.. Delivered antibiotics re51Stance workshops at CHUB ar￿ Kabgayi L2TH, attended by 16 participants. Lifebox hosted a Clean Cut side event, 'Driwng surgical Safety forward". Highlight5 from the Lifebox Clean Cul Inilialive. al the College of Surgeons of East, Central. and Soulhem Africa ICOSECSAI 23rd Annual Scientific Conference in December 2023. The aim of the event was lo share 7-years of program outcomes and challenges, gather inp(rt on enhancing implementstion across clini¢al areas, engage high-level stskeholders lo support Scal￿￿p and sustainability in the region, $trengihen ¢ollaboration$ amongst surgical $o¢ielies and partners, and advocate for hei9hlened investments into safe surgery globally with the ernpha5is on Clean Cul. Objective 2.. Patient monitoring practices are improved in operab.ng rooms and recovery areas in partner facilities ￿￿h al least 10,000 Pfofessionals providing safer patient monilonng pulse oximetry andlor capnography Lifebox made leaps in the di$tributson of t¢)ol$ e$sentsal for patient safety. Since the launch of the Smile Train- Lifebox Capnograph last year, in partnership wth Smile Train, we have equipped 313 operating rooms with capnographs across 17 countries. We have supplied 802 Lifebox Lights acr055 28 countries since ils launch last year. This year we dislnbuted our 36,OOOth pulse oximeler, 744 Lifebox Pulse Oximelers gupplied in 2024 alone. Objective 3.. Perioperative teamwork is improved among surgeons, anaesthesia providers, nurses and obstetricians and gynaecologists wth evidence of improved teamwork at partner facilities The key highlight of work under this objective was the launching of the Nursing Leadership for Surgical Excellence INLSEI project In Ethiopia and Malay￿. The NLSE project engaged 9 nurse fellews. 5 mentors. 209 nurses and 257 parti¢ipanl$. By identi￿.n9 gaps in the surgical nursing care process and key training needs, the project demonstrated improvements in perioperats've care quality, surgical safety, nurse skills, and satisfaction among both patients and nurses. Objective 4." Evidence of the need for. and impact of. interventions ￿lated to safer anaeslhesia and surgery is generated, disseminated. and used lo infom action. The key deliverable for this objective 19". len peer-reviewed publi¢ations and len abstract presentations. at least 75 pe￿ent of %thi¢h have first andlor senior authors from LMICS. Over the period, Lrfebox conducted several studies to delemiine the effectiveness of inlervenlions and published 8 peer reviewed articles on a range of topics from results of an observational cohort study on the effects of extended postoperative antibiotic prophylaxis on surgicaksile infe¢tions in low- and middle-in¢ome countries lo results of a Mixed Methods Study." Exploring the Use of a Fit-for-Purpose Surgical Headlight in Sub-saharan Africa. Articles were published in the 8ntish Joumal of Surgery, JAMA Surgery, the West Afn'can Journal of Medicine and the Worfd Joumal of Surgery. Two publications are pending.. results of the Stepped-wedge Cluster Randomised Clinical Trial evaluating Clean Cut for Caesarean Section as well as the results of Clean Cut for Cleft lo complete the 10. Over 16 abstracts ￿re submitted and 12 p￿sen18b"0nS We￿ delivereil al global Conferences. Page 7

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 A¢hlovem•nts and perfomian¢• 1contlnu￿1 d. Factors relevant to achieve objectives The COVID-19 pandemi¢ and staffing issues during the period impacted our ability to maintain and build individual small. mid. and large donor ￿labonshIps. Donors a stated interest in global surgery have decreased over the past years in favour of making investments in addressing climate change, antimicrobial resislance, and primary health care. Unrestricted fvnding required to cover administrative costs and strategic inve51menl in new programs is espe￿allY hard lo raise. g. Fundraising activities and incom8 gengrntion Lifebox has a significant track record of raising private lunds- notsbly from individuals and family foundations lo support its work. New partnerships wth other NGOS has al$0 been ¢riti¢al lo raising Lifebox's revenue and a Significant increase in Trusts and Foundations revenue supported the doubling of revenue. During the 2023-2024 period Lifebox continued to inuease ts outreath to Trusts arKI Foundatsons and began exploring in5tilutional donors. Flnan¢lal revlew a. Golng concorn After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going eoncern basis in preparing the financial ststemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Ro$•rve# policy At the close of the period under review we retsined unrestricled general funds of £483,818. The trustees consider this to be a prudent reserve at this stage of the charity's development, having regard to our current plan5 Staffing and other commrtmenls for 2024125. In 2014115 the Trustees approved a policy lo maintsin free reserves lo cover th￿e monlhg essential operations. c. Principal risks and uncertainties See table on next page. Page 8

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UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 d. Financial risk managem8nt objectives and policies The Trustees are committed to a policy of Identi￿'ng. monitoring and managing the risks that might adversely affect the activities of Lifebox. In this context. risk is deffined as the potential lo fail lo achieve the charity's objectives and lor loss, financial andlor reputational. An ongoing process is in place for identifying, evaluating and managing any significant risks faced by Lifebox and identified by the Trustees or senior management. Appropriate ath'ons have been put in pLice to M￿'gate the exposure to and possible consequence5 of these risks. •. Principal funding Lifebox UK is primarily funded through private individual and foundation gifts, the majority of which are managed through our sister charity, Lifebox US. Lrfebox US reimburses Lifebox UK lor activities ¢arried out in delivery of programs as per a collaborative agreement and grant temis. Major grants include from ELMA Philanthropy, CRI Foundation, Johnson & Johnson Charitable Foundation. etc. f. Review of thg Y•ar The lolal donations we received during the period amounted to £517,657, of ￿1¢h £289,250 was unreslricled and £228.407 restricted. Our lolal expenditure wa$ £785.592 comprising £430 on fvndraising and £785,162 on ¢harrtable aclivilies. Our deficit of income over expenditure during the period was thus 1£267,9351 and after other gains left us with reserves of £513,254. Our principal asset at the end ol the period was a bank balance of £406,384 and Stock worth £66,123 held wlh Acare Technology Co.. Ltd in Taiwan. We did not own any Investments. StructUrn* governanc• and management a. Constltutlon Lifebox is a charitable company limrted by guarantee and govemed by ils Memorandum and Articles of Association, as amended by special resolutions dated 15 July 2011, 15 May 2012 and 21 Ntsvember 2015. The Memorandum and Arhcles restrict the liats'lty of members on wnding up to £5. In the case of wnding up none of the accumulated funds are distribLrtable to the members, but will be applied for charitable causes as decided by a majority of the Trustees. b. Mothods of appolnlment or •lKtlon of Tru$tse$ Lifebox Trustees.. Directors are appointed by re501ub.on of the members for a three-year tem. Directots are eligible for ￿appOintment al the first Board meeting of the year in vknich their lemi expl￿$. None of the Trustees has any beneficial interest in the charity. The Trustees, who are also the directors for the purpose of company law, and vtho served during the year were.. Pauline Philip, DBE- CHAIR Professor Alan Merry Mb. ChB- TREASURER Professor Millard Derbew Beyene. MD Rob McDougall, MB8S Professor Nobhojit Roy, MD, MPH Thomas Weiser, MD, MPH Page 10

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 Structur•. gov•rnance and manag•m•nt l¢ontInu￿) c. Oryanisational structure and decision4naking policies The 8oard of Trustees is the body responsible for the management of Lifebr)x. The Board meets throLJgh formal video Conferences at regular intervals throughout the year. Katie Femandez, Chief Programme Officer, is the UK charity's most senior staff member. She reports to Global CEO and UK Company Secretary Kris Torgeson. There is close collaboration betsveen the charity and our sister organisation in the USA, also called Lifebox Foundation, particularly in developing strategies and deliveiing projects aimed at achieving the common mission. The CEO of Lifebox USA. Kris Torgeson works closely together wth all stsff members of Lifebox UK and the UK Board. All major decisions regarding Lifebox Foun¢Jats'on are approved by the Board of Twslees. d. Pollclos adoptod for the Inductlon and tralnlng of Trustees New Tru$tee$ undergo an orientstion to brief them on their legal obligations under charity and Company law, the content of the Memorandum and Articles of Association, the decision-making process within Lifebox, risk register, annual largels and finoncial performance. Trustees are also Introduced lo the charity's staff and briefed on their areas of work. Trustees are encouraged lo attend appropriate extem81 training events where these will facilitate the undertaking of their role. •. Pay pollcy for kèy mana9em•nt Pornonn Lifebox 1$ committed to providing staff with fair compensation for their work, en￿uragIng strong workplace performance, and ensuring siaff maintain a qualty standard of living. Our pay scales presently are informed by Birches, with annual cost of living adjustments applied to all staff salaries lo account for inflation and other increases in cost of living. Staff also qualify IOT an Increase rf their level or scope of responsibility significantly increases. A revised job description is developed and an adjuslmenl lo remuneration andlor tslle wll be recommended by their line manager in consultation ￿th HR and approved by the CEO. Salaries lor new position$ are infomied by the budget. looking at comparable positions wthin the organisation as we aim for pay equity, and scanning the market for extemal parity. Part of being a responsible employer also means remuneration derAsions are ahvay5 made ￿ afftjrdability for sustainability and Statutory obligation5 in mind. Page 11

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 Structur•. gov•rnance and manag•m•nt lcontlnu￿￿ f. Related party relationships There is close collaboration behveen the charity and our sister organisation in the USA, also called Lifebox Foundation, particularly in developing strategies and delivering projects aimed at achieving the common mi$sion. The CEO of Lifebox USA, Kristina Torgeson works closely together with all staff members of Lifebox UK and the UK Board. Lifebox works closely wth several other nowovemmental organisalions including". Mgrcy Shl Mercy Ships and Lifebox have established a collaborab'on for Education. Trainin9 and Advocacy programs and project5 to make surgical and anaesthesia care safer In the counlnes that Mercy Ship5 partners through reducing surgical site infections. improving anaesthesia safety, and promob.ng teamwork. Projects include implementslion of the Clean C￿￿ Program. donation of life-saving equipment, and other trainings such as SAFE Operating Room and Nursing Leadership lor Suigical Excellence. SmlloTraln Lifebox and SmileTrain have developed the Smile Tiain-Lifebox Safe Surgery and Aneslhegia Initiative lo develop and deliver high-impacl tools and program$ lo improve surgical and anaeslhesia safely and care for cleft patients in Smile Train's 1100+ partner facilities., distinguish Smile Train as the leader in safe cleft care and raise the standard of surgical and anaesthesia safety in lO￿Tes0urce settings wortdwide,. and strengthen Lifebox's capacity to provide expertise on surgical and anaesthesia safety in LMIC5 for the long-temi. g. Flnanclal rl$k managgm•nt The Trustees are committed to a policy of Identl￿"nY. monilonng and managing the nsks that might adversely affect the activities of Lifebox. In tt)is context. fisk is defined as the potential lo fail lo achieve the charity'g objectives and lor loss. financial andlor reputational. An ongoing pr¢)cess 1$ in place lor identifying. evaluating and managing any significant risks faced by Lifebox and identified by the Trustees or senior management. Appropriate acb'ons have been put in place to mrtlgate the exposure to and possible consequences of these risks. Page 12

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 Plans for futur• perlods Our focus for the next year (April 2024-March 20251 is to develop a new five-year Strategic Plan12025-20301 focused on surgical systems strengthening. Our approach will evolve lo focus on supporting partner hospitals lo identify, define, and reach their own goal$ for surgical safety- Our aim is to adopt an integrated approach lo programming. focused on working wrth Ministries of Health and partner hospitals to assess and map gaps and challenges in perioperalive processes. We will provide a range of flexible solutions including quality improvement. training. and key safety equipment, with the dual goals of improving patsent outcomes and strengthening systems. This 'LEED approach, wll span four key spheres of work.. LEARNING: Creating a community of leaming by identifying and supporting the leaming goals of professionals in low. resource settings on perioperative safety. EVIDENCE.. Improving adherence to evidence-based best practices and generab.ng evidence of what works lo increase compliance proven surgical patsent safety guidelines and protocols EQUIPMENT.. Developing and increasing a￿$$ to key. environment-appropriate $afety equipment and supplies DATA,. Increasin9 the capacity for sur9ical teams and systems lo make dat&driven decisions to improve surgical safely The 2025-2030 Strategic Plan wll address key issues to the safety of Surgi￿1 patients in Iow-resource $etting$.' Infectlon prfrvontlon: continue lo Idapt the surgical infection reduction program Clean Cut to incorporate new evidence and infection prevention standards wth an emphasis on flexibility for partner hospitals. Matèmal and neonatsl out¢om•$- continue the adaptation of the Lifebox Clean Cul program to addre88 other key risks associated with caesarean seclion. including postpartum haemorrhage. Pa8dlatrlc 8uryory.' invests'gate use of the Clean Cut methodology to reduce key risks of infection and mortality for paediatric surgery and develop and roll out additional quality improvement components at hospitals that provide paediatric surgery. Nursing leadership.. implement the Lrfebox Nursing Leadership for Surgical Excellence program al partner hospitals lo build the leadership skills in perioperatsve nurses for safer patient care. Saf•r monitorlng: continue lo address the lack of access lo Capnography in Iow-resource setting operating rooms wth core partner Smile Train to improve anaesthesia safety. Antimicrobial resistance: pilot and scale up an antibiots"c stewardship program to address the overuse of postoperative antibiotics with the aim of it being incorporated into the Clean Cut program. Environmental impact- pilot worfK lo minimise environmentsl impact of surgery by adapting a Green Theatre Che¢klisl lo reduce the environmental impact of surgery. Biomedical ¢ngineering.' develop and pilot a biomedical equipment management program lo address gaps in equipment management and maintenance. In 2024-2025, alongside developing a new strategic plan, V•* aim to work with 18 hospitals in nin8 countries to improve the safety of surgery and anesthesia for 263.000 patients. Page 13

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 klARCH 2024 Statsm•nt of Tw$tges' rnspon$lbllltl•$ The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees, report and the financial ststemenls in a¢cordan¢e wlh appli¢able law and United Kingdom Accounty'ng Standards IUnrte<l Kingdom Generally Accepted A¢¢ounling Practi¢el. Company law requires the Trustees to prepare financial slalements for each financial year. Under company law. the Trustees musl not approve the financial statements Unless they are salisfieLI that they give a true and fair view ol the slate of affairs of the Charity and of ts incoming resources and application of resources, including ils income and expenditure. for that period. In preparing these financial statemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consislenuy". observe the methods and principles of the Charities SORP IFRS 1021., make judgments and a¢￿UntINg eslimales that are reasonable and prudent.. $tsle whether applicable UK Accounting Standards IFRS 1021 have been followed, $ubje¢t to any material departures disclosed and explained In the financial statements., prepare the financial slalements on the going ¢oncem basis unless il is inappropriate lo presume that the Charity wll continue in bu$ine¥¥. The Trustees are responsible for keeping adequate accounts.ng records that are suffioenl to show and explain the Charity's transactions and disdose with ￿aSOnable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial $tatemenl$ Comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Chanty and hence for taking reasonable $tep$ for the prevention and detection of ftaud and other irregularibes. Dlsclosure of Inf¢rn)allon to audltors Each of the persons who are Trustees at the time when this Trustees. report is approved has confimed Ihal.. $0 far as that Trustee is awa￿, there 1$ no relevant audit infomalion of which the charity's auditors are unaware, and that Tru51ee ha5 taken all the steps tht ought lo have been tsken as a Trustee in order to be aware of any relevant audit information and lo estsblish th the Charity's auditors are aware of that information. Auditors The auditors. BKL Audit LLP. have indicated their %Mllingness to continue in office. The designated Trustees will propose a motion ￿appoIntIng the auditors at a meetsng of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Dr Thomas Googhogan Wois•r Trustee Date.. 1411212024 Page 14

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LIFEBOX FOUNDATION Oplnlon We have audited the financial ststements of Lifebox Foundation (the 'charitable company'l for the year ended 31 March 2024 which comprise the Stslement of financial a¢tivilies. the Balance sheet. the Stslernent of cash fltswg and the related notes. in¢luding a summary ol signifi¢anl a¢¢ounling poli¢ies. The financial reporting framework that has been applied in their preparation 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, (United Kingdom Generally Accepted Accounts'ng Practice). In our opinion the financial stslements.. give a true and fair view of the stste of the chantable companls affairs as a131 March 2024 and of ils in￿ming re$our¢e$ and application of resources. induding its income and expenditure for the year then ended., have been properfy prepared in accordance vAlh United Kingdom Generally Accepted Accounb'ng Practice.. and have been prepared in accordance bmth the requirements of the Charities Act 2011. Bas18 for oplnlon We conducted our audit in accordance wlh Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those $landard$ are further des¢ribed in the Auditors, responsibilities for the audit of the financial statements Section of our report. We are independent of the charrtable company in accordance with the ethical requirements that are relevant to our audit ol ihe financial statements in the United Kingdom, including the Finanual Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit evidence Yo have obtained ig sufficient and appropriate to provide a basis for our opin￿n. Conclu#ions rela￿ng to going concorn In auditing the financial statements. we have conduded that the Trustees. use ol the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. vo have not identified any material uncertainties relating lo events or Conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least Mtlve months from ￿en the financial statements are authori5ed for issue. Our re$pon$ibilities and the re$pon$ibilities of the Trustees vAlh ￿SpeCt to going con¢em are de$cribed in the relevant sections of this report. Page 15

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI Other Infomiatlon The other information comprises the infomiation included in the Annual report other than the financial statements and our Auditors. report thereon. The Trustees are responsible for the other Informab"on contained wlhin the Annual report. Our opinion on the financial statements does not Cover the other information and. except to the extent othemse explicitly stated in our ￿port. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inforniation and, in doing so, consider whether the other infomiation is materially inconsistent with the ffinancial statements or our kno￿edge obtained in the course of the audit, or olherwse appears lo be materially misstated. If we Identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives nse to a material misslalemenl in the financial stslements themselves. If. based on the work have perfomied. we condude that there is a material misstatement of this other informatson, %%t are required to report that fact. We have nothing to report in this regard. Mattors on vthlch wa rnquired to rnport by exc•ption We have nothing to report in respect of the follovAng matters wthere the Charities (Accounts and Reports) Regulations 2008 requires us lo report to you if, in our Opini￿.. the information given in the Trustees, report is inconsistent in any material respect wth the financial statements., or sufficient accounting records have not been kept". or the financial $tatements are not in agreement wth the a¢¢ounting re￿rdS and relums.. or we have not received all the information and explanations we require for our audit. Respon8lbllltle$ of trusts Ag explained more fully in the Truslee5' responsibilibes statement, the Trustees (who are also the director$ of the charitable company for the purposes of company lawl are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair wew. and for such internal control as the Trustees detemiine 1$ necessary to enable the preparalion of financial Stslements that are free from material misstatement, whether due to fraud or error. In preparing the financial slalemenls. the Trustees are responsible for assessing the charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to going ¢oncem and using the going concern basis of accounting unless the Trustees erther intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 16

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI Audllors. re$pon$lbllltl•s for tho audlt of th• finan¢lal $latsm¢nts We have been appointed as auditor under secb.on 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or hawng effect the￿under. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mi551atement, whether due to fraud or error, and 10 Issue an Auditors, report that include5 our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audrt conducted In accordance with ISAS IUKI ￿11 atways dele¢t a material misstslement when rt exists. Misslalemenls can arise from fraud or error and are considefed material rf, individualty or in the aggregate. they could reasonably be expected lo influen¢e Ihe e￿noMiC decisions of users taken on the basis of the$e financial $tslemenls. Irregularities, including fraud, are instsnces of non-compliance wlh laws and ￿gUlatiOns. We design procedures in line wlh our responsibilibes. outlined above, lo dete¢t material mi$stalemenl$ in re$pe¢i of irregularities. including fraud. The extent to which our procedures are Capable of detecting irregularrtie$, including fraud is detailed below.. Enquiring of management around aclual and Potential litrg*ion and claims.. Reviewng board meeting minutes of meetings of those charged wth governan¢e', Reviewng financial slalemenl disclosures and testsng to sUppO￿n9 documentation to assess compliance with appli¢able laws and regulations., Performing audit work over the risk of management override of eontro15, including lesling of journal entries and other adjuslmenls for appropriateness. evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit. there is 4 risk that we will not detect all irregularities, including those leading to a material misslalemenl In the financial slalemenls or non<ompliance wth regulation. This risk increases the more that Compliance with a law or regulatson 1$ removed from the events and Iransaclieng reflected in the financial stslements. as we ￿11 be less likety lo become awa￿ of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation. As part of an audit in accordance with ISAS IUKI, we exercige professional judgment and maintain professional scepli¢ism throughout the audil.we also". Idents'fy and assess the risks of malerial misstatement of the finanaal statements, whether due to fraud orerror, design and perfomi avdrt procedu￿$ responsive to those risks. and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mi5Statement resulting from fraud is higher than for one resutting from error. as fraud may invofve collusion,forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of intemal control relevant to the audrt in order to design audit procedures that are appropriate In the circumstsnces, but not for the purpose of eXp￿sSIng an opinion of the effectiveness ofthe charity's internal control. Evaluate the appropriateness of accounting pdicAes used and the rea50nablene55 of accounting estimatesand related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees. use of the going concem basis of accounting and, basedon the audrt evidence obtsined. whether a material uncertainty exists related lo events or conditions that may cast significant doubt on the charty's abilty to continue as a going concern. If we conclude that amaterial uncertainty exists, we are required lo draw attention in our Auditors, report lo the related disclosures in the financial ststements or, rf such disdosures are inadequate. to modify our opinion. Our condusions are based on the audit evidence obtained up to the dale of our Auditors, report. However, future events or ¢ondilitsns may cause the Charity lo Cease lo ¢onb"nue as a going ¢on¢em. Evaluate the overall presentalion, structure and content of the financial statements, induding the Page 17

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI disclosures, and whether the finan￿al statements represent the underlying transactions and events in a manner that achieves fair presenlabon. We ¢ommunicale those charged with govemance regarding. among other matters. the planned scope and timing of the audit and $ignifi¢ant audrt findings. including any significant deficiencie$ in internal control that we identify during our audit. A further description of our responsibilities for the audit of the financial stslemenls is located on the Financial Reporb'ng Coun¢il's website al.. vwm.fr klaudrt This de￿ripts'0n fomis part of our Auditors, report. U•0 of our report This report is made solely lo the chantable company's trustees, as a body, in accordance wrth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might 51ale to the Charitable company's Iruslees those matters we are required lo stsle to them in an Auditors. report and for no other purpose. To the fullest extent pem)itted by law. we do nol accept or assume responsibility lo anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. FKL Audit LLP BKL Audlt LLP Chartered Accountsnls Slalulory Audrtor 35 Ballards Lane London N3 1XW Dale.. 2211212024 BKL Audit LLP are eligible lo act as auditors in tems of seth.on 1212 of the Companies Act 2006. Page 18

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Total funds As Restated 2023 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Note Income from: Donations and legacies Charitable acliwtses 228.407 227,592 61,658 455,999 61,658 1, 152,930 40,62T Total incom8 228,407 289,250 517,857 1, 193,55T Exp8ndituro on: Raising funds Charitable acliwtses 430 490,952 430 785,162 3,657 I,111,TOO 294.210 Total •xp•ndlture 294,210 491,382 785,592 1, 115,357 Net movomant Sn funds bgforg Qthgr rgCOgnis8d gainslllo8sesI 165.803) 1202,1321 1267,9351 78,200 Other r•¢ognlsod gainslllos8e$): Other gains 50,797 Not mov•ment In fund$ 165,803} 1202,1321 1267,9351 128,997 R•conciliation of funds: Total funds brought forward Nel movement in fvnd$ 95.376 16S.803) 685,813 1202,1321 781,189 1267,9351 652, 192 128,997 Total lund$ carried forward 29.573 483,681 513,254 781, 189 The Statement of Financial Activrties includes all gains and losses recognised in the year. The notes on pages 23 to 39 fomi part of these financial statements. Page 19

Thomas G Weiser

Rob McDougall 21/12/2024 14/12/2024

UFEBOX FOUNDATION IA Company limited by guaranteo) REGISTERED NUMBER: 07162518 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The notes on pages 23 to 39 fomi part of these financial statements. Page 21

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flow4 from oporating a¢tlvities Net cash used in operating activities {31.5051 93,334 Changg In cash and cash oqulvalgnts In tho ygar Cash and cash equivalents al the beginning of the year 131,5051 437.889 93.334 344,555 Cash and cash oqulvalonts al the ond of tho ￿ar 406,384 437.889 The notes on pages 23 10 39 fom part of these financial statements Page 22

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information Lifebox Foundation is a charitable company that was incorporated on 21 April 2011 and registered with the charity commission on the same date. The Memorandum and A￿'deS were further amended by special resolutions on 15 Juty 2011. 15 May 2012 and 21 November 2015. Accounting poll¢le$ 2.1 84¥1s of proparatlon of financlal ststèmonts The financial slalemenls have been prepa￿d in accordance the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Ad 2006. Lifebox Foundation meets the definition of a public benefit entity Under FRS 102. Assets and liabilities are initially recognised at histori￿1 wst ¢y transaction value unle$$ olhetwse slated in the relevant accounting policy. 2.2 Incom8 All income is recognised once the Charity has enliUemenl to the income. il is probable that the income wll be received and the am¢)unl of income receivabbe can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for Specific purposes but not expended during the period is Shown in the relevant funds on the Balance sheet. Where income is ￿CeIVed in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. whe￿ en11￿ment occurs before inwme is received. the income 1$ accrued. Gifts in kind donated for dislribub'on are included at valuation and recognised as income when they are distributed lo the projects. Gifts donated for resale are induded as income when they are sold. 2.3 Exp•ndlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party. it is probable that a transfer of economic benefit5 wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 classified by aclivily. The costs of each activity are made up of the lotsl of direct costs and shaied costs, including support costs involved in undertaking each acbvity. Direcl Costs attributable to a single activity are allocated dire¢tly to that activity. Shared costs which contribute to more than one artivity and support costs whi¢h are not attributable to a single activity are apportioned befvleen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation ¢h8rge5 allocated on the portion of the a55et'S Use. Expenditure on raising fvnds indudes all expenditure incurred by the Charty to raise ftjnds for ils charitable purposes and indudes costs of all fundraising ath'vth'es events and non<haritable trading. Expenditure on charitable activities is incurred on direclly undertaking the activf(ies vthich fvrther the Chanty's objectives, as well as any a5￿Giated support cosl5. Page 23

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng poll¢l•$ l¢ontlnu•d} 2.3 Expenditure (continued) All expenditure is inclusive of irrecoverable VAT. 2.4 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct ¢osls and an appropriate proportion of fixed and variable overheads. 2.5 Oebtor¥ Trade and other debtors are Teeogni5ed al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepa￿ net of any trade discounts due. 2.6 Cash al bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short malurily of three months or less Irom the date of acquisitson or opèning of the deposit or similar account. 2.7 Llabllltle8 and provlslons Liabilities are recognised vthen there is an obligation at the Balance sheet date a$ a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised at the amount that the Charity anticipates il wll pay to settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured at Ihe best estimate ol the amounts required to settle the obligation. Where the effect ol the time value of money is material. the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific Its the Iiabilily. The unwnding of the discount is recognise(l in the Statement of financial actTvilies as a finance cost. 2.8 Flnanclal instruments The Charity only has financial assets and finanrjal liabilitie5 of a kind that qualify as basic financial instruments. Basic financial Instruments a￿ initially ￿cOgnised al transaction value and subsequently measure<l at their settlement value the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 24

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng poll¢l•$ l¢ontlnu•d} 2.9 Fund accounting General funds are unreslricteil funds which are available for use at the discrets'on of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial slatemenls. Restricted funds are funds which are to be used in accordance wth specific restrictions imposed by donors or vthich have been raised by the Chanty for parts'cular purposes. The costs of raising and adminislenng such funds are charged against the specific fund. The aim and use of each reslricled fund Is sel out in the notes lo the financial statements. Incomg from donation$ and 1gga¢lg¥ Rostrlct•d Unrèstrlct•d fund$ funds 2024 2024 Total funds 2024 Donations 228,407 227,592 455.999 Resttycted Un￿Stricted Total funds funds funds As Restaled As Reslaled As Restaled 2023 2023 2023 Donaliens Gifts in Kind 643, 190 389.999 119, 741 1,033, 189 119, 741 643, 190 509, 740 1, 152,930 Income from ¢harftsbl• a¢tlvltles Unrestricted funds 2024 Total funds 2024 Income from charrtable activrties- Improving Anaesthesia Safety 61,658 61.658 Page 25

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitsbje activities (continued) Unrvstrict43d Total funds funds As Reslaled As Restaled 2023 2023 Income from charitable activities- Improving Anaeslhesia Safety 40,62T 40,627 Expondltur• on ral$lng funds Costs of ralslng voluntary Incom• Unmtrlctod fund$ 2024 Total fund$ 2024 Subscriptions & License Fees CRM & Online Systems Fees 336 94 336 94 430 430 Unrestrict8d Total funds funds As Restaled As Restated 2023 2023 Direct Mail Marketing Subscriptions & License Fees CRM & Online Systems Fees 2, 716 797 2, 716 797 744 144 3,657 3,657 Page 26

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities Summary by fund typ• Restricted Unrestricted funds funds 2024 2024 Total 2024 Improving Anaeslhesia Safety Redu¢ing Surgical Sile Infeetions Promoting Surgical Teamwork 318,897 161,206 10,849 318.897 267.527 198,738 106,321 187,889 294.210 490,952 785.162 Restiycled Un￿$tricI8d funds funds Total As Restaled As Restaled As Restated 2023 2023 2023 Improving Anaesthesia Safety Reducing Surgical Site Infections Promoting Surgical Teamwork 108.317 363,533 78,024 293.637 59, 732 208,45T 401,954 423,265 286,481 549.874 561,826 1,111,700 Analys18 of oxpenditurn by activltlos Activities nd¥rtak¢n dirèctly 2024 Support costs 2024 Total funds 2024 Improving Anaesthesia Safety Reducing Surgical Site Infections Promoting Surgical Teamwork 240,581 163,112 120,422 78,316 104.415 318.897 267,S27 198.738 78,316 524.115 261,047 78S,162 Page 27

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Icontinuedl Ac1wil￿S undertaken Support Total d1￿cl1Y costs funds As Restated As Reslat8d As Restated 2023 2023 2023 Improving Anaesthesia Safety Reducing Surgical Sile Infections Promots'ng Surgical Teamwork 312,621 304, 154 197, 148 89,333 119,111 89,333 401,954 423,265 286,481 813,923 297, 777 1,111,700 Analys18 of dlract costs R•duclng Surgl¢al Promotlng Site Surglcal Infectlons Toamwork 2024 2024 Improvlng Ana8Sthosla Safety 2024 Total funds 2024 Staff costs Pulse Oximelers & Research Training & Education Capnegraphy Clean Cut Implementatson Headlight Travel Consultancy Emergency Support Communications & Marketing Inslilutional Content & Design SO￿are, LI￿nseS & Website Fellow5 83,127 122,719 1,490 4.613 110,835 130 83,127 97 2,019 277,089 122.946 4.470 4,613 12,001 6.547 23.923 10,710 28.694 6.777 21.369 2,6S2 1.011 392 921 12,001 6,547 7,177 3,213 8,608 2,033 6,411 796 7,177 3,213 8,608 2,033 6.411 796 9,569 4.284 11,478 2,711 8,547 1,060 1,011 Events Other Direct Costs 118 276 118 276 369 240,581 163,112 120,422 524.115 Page 28

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Icontinuedl Analy$l$ of dlr•ct costs l¢ontIn￿dI Impmving Reducing Pmmoting Anaesthesia SurgKal Site Surgical Total Safety Infect￿￿$ Teamwork funds As Restaled As Reslaled As Reslal8d As Restal8d 2023 2023 2023 2023 Staff costs Pulse Oximelers & Research Training & Education Capnography Clean Cul Implementatson Headlight Travel US Programme$ Consuhancy Emergency Support Communicatsons & Marketing Inslilution31 Conlenl & Design Software, Licenses & Website Fellgws Events Other Direct Costs 92,807 121,649 882 9.611 123, 744 610 1,176 92,807 458 16, 190 309,358 122, 777 18,248 9,611 42, T47 21 29,626 117,406 47,465 52,352 3,116 10,409 13,652 18,993 15,814 2,394 42. T4t 21 8,888 35,222 14.240 15, 706 935 3, 123 4,096 8,888 35,222 14.240 15, 706 935 3, 123 4,096 11.850 46,962 18.985 20,940 1,246 4, 163 5,460 18,993 6,326 958 4, 744 T18 4, 744 T78 312,621 304. 154 197, 148 813,923 Page 29

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Icontinuedl Analys1$ of supp¢rt costs Reducing Improvlng Surgical Promoting Anao$th•s13 Sita Surgl¢al Safaty Info¢tion$ Tèamwork 2024 2024 2024 Total funds 2024 Staff costs Consultan¢y Bank Charges Rent Meeting Room Hire HR & Payroll Staff Training Subscriptsons Travel Insurance Other Support Costs Govemance costs 57.541 8,585 305 3.323 689 76.721 11,445 407 4.429 918 1,120 57,541 8,585 305 3,323 689 191.803 28,615 1.017 11.075 2.296 2,802 84 25 25 285 319 177 331 5,895 380 425 236 285 319 177 331 5,895 950 1,063 S90 1.102 19.650 440 7.860 78.316 104,415 78,316 261,047 Page 30

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities Icontinuedl Analys1$ of supp¢rt costs Icontlnu•d) Impmving Reducing Pmmoting Anaesthesia SurgKal Site Surgical Total Safety Infect￿￿$ Teamwork funds As Restaled As Reslaled As Reslal8d As Restal8d 2023 2023 2023 2023 Staff costs Consuhancy Bank Charges Rent HR & Payroll Staff Training Subscripb'ons Travel Insurance Other Support Costs Govemance costs 69,139 1,850 736 4.994 9T2 6, 704 978 92,185 2.466 980 6,659 1.29T 8,939 1,303 189 508 481 4, 104 69, 739 1,850 736 4,994 9T2 6, 704 978 742 380 360 3,078 230,463 6, 766 2,452 16,647 3,247 22,347 3,259 473 1,268 1,201 10,260 142 380 360 3,078 89,333 119,111 89,333 297, 777 Govemance costs in both 2023 and 2024 re￿te to fees payable lo the Charitys Auditor. Audltor8' remuneratlon 2024 2023 Fees payable to the Charitys audrtor for the preparation and audit of the Charity's annual accounts 14.400 5,478 Page 31

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs 2024 2023 Wages and salaries Social security cosls Contribution to defined contribLrtion pension schemes 410.802 45,905 12,185 469, 779 55,531 14,511 468.892 539,827 The average number ol persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. 11 The number ol employees whose employee benefit$ (excluding employer pension costs) exceeded £60,000 w*5'. 2024 No. 2023 No. In the band £60.001- £70,000 In the band £70.001- £80.000 Key management personnel ¢on$isls of the Chief Programmes Officer and the Head of Finance. The total employee remuneration and benefits of the key management personnel of the Charity were £168,71412023.' £86,978). 10. Twstee$' remunfrratlon and expenses During the year. no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NILJ. 11. Stocks 2024 2023 Oximeters and Probe$ 66.123 167.529 Page 32

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Debtors 2024 2023 Due wlthln one year Trade debtors Prepayments and accrued income 84.590 282,403 6, 129 84.590 288,532 13. Credltors: Amounts falllng duo wlthln om yoar 2024 2023 Trade creditors Other ¢reditors Accruals and deferred income 4,498 26,650 81,613 12,876 30.967 43.843 112, 761 14. Prlor year adlustmonts The Financial Statements for the year end 31 March 2023 have been amended lo correctly reflect the reslncted lunds posrtlon vh)ich had previously induded items unreslricled In nature. In addition, income and expendrture allocation has been upd*e<l to be in line wth the aclivthes of the charity and chanly SORP 19. The surplus as P￿vIoUSlY reported remains unchanged. Page 33

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1S. Statement of funds ststem•nt of fund$ - current year Balance at 31 March 2024 Balance at 1 Aprfl 2023 Transfers Inlout Income Expendlture Unrestricted funds Dosignated funds Improving Anaesthesia Safety Reducing Surgical Site Infections Promots"ng Surgical Teamwork 143,107 {150,6161 7,509 19.074 5.468 {11,$661 16,8831 7.508 1.415 167.649 {169,06SI 8,924 7,SO8 Ggngrol funds General Fund$- all fiJnd$ 685,813 121,601 {322.3171 18.9241 476.173 Total Unr•$trfctsd funds 685.813 289,2SO {491,3821 483.681 Re8trictod funds Reducing Surgical Site Infections 95,376 40,S18 187.889 {106,3211 {187,8891 29,573 Promots'ng Surgical Teamwork 95.376 228,407 {294,2101 29.573 Total of funds 781.189 517.6S7 {785,5921 513.254 Page 34

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1S. Statement of funds Icontinuedl Designated lunds comprise". rovin Anaesthesia Safe Amounts designated mainly for distribution of devices Ipu15e oximeler5, capnographs and headlighlsl. This also includes training on the use of pulse oximelers and capnographs. in Amounts designated for the implementath.on of the Lifebox clean cul programme. The programme is series of workshops and Iiainings dessgned lo reduce surgical 51te Infectsons. Amounts designated to provide training to operating room slaff to promote effedive communication in the operating room. Restricted funds comprise.. rovin Anaesthesia afe Restricted monies given mainly lor distribution of devices Ipulse oximeters, capnographs and headlighlsl. This also includes training on the use of pulse oximelers and capnographs. in Restricted monies given for the implementation of the Lifebox clean cut programme. The programme is series of workshops and trainings des$9fbed to reduce surgical 51te infects'ons. Promots"n Sur ical Teamwork Restricted monies given to provide training to operating room staff to promote effective communication in the operating room. Page 35

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1S. Statement of funds Icontinuedl ststem•nt of fund$ - prlor yoar 8alance at 31 Ma￿h 2023 Balanc8 at As restated As restated l Apnl 2022 InGome Expendrtu Trnnsfers inlout Gains/ (Losses) Unrestrictsd funds General Funds- all funds 8￿,519 550.366 (565.483) (386) 50,797 685.813 R•strlctsd lunds Improving Anaesihesia Safety Reducing Surgical Site Infertions Promoting Surgical Teamwork (83,943) 192,260 (108,377) 172,509 286,014 (363.533) 386 95,376 (86.893) 164.977 (78.024) 1,673 643, 191 (549.874) 386 95,376 Totsl of funds 652, 192 7, 193,557 (1.115,35T) 50,T9T 781, 189 16. Summary offund$ Page 36

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Summary of fund5 {continuedl Summary of funds - ¢urr•nt y•ar Balance at 31 March 2024 Balance at 1 Aprfl 2023 Transfers Inlout Income Expendlture Designated fiJnd$ General funds Reslricled funds 167.649 121,601 228,407 {169,0651 {322,3171 {294,2101 8,924 18.9241 7,SO8 476.173 29.573 685.813 95.376 781,189 517,657 {785,S921 513,254 Summary offunds- priory•ar Balance at 31 March 2023 Balance al As restated As ￿$tated l Apnl 2022 Income Expenditure Trnnsfe in/out Gains/ (Loss&sJ General funds Reslricled funds 6&),519 1.673 ,366 643. 191 (565,483) (549.874) (386) 386 50,797 685,813 95,376 652, 192 1. 193,557 (1, 115.357) 50,797 781, 189 17. Analysls of net a$￿ts ￿t*￿en lund• Analy$ls of n•t a$$gts bot%wen fund$- ¢urren¢ perlod R￿triCt0d UnrKtrict8d funds funds 2024 2024 Total funds 2024 Current assets Creditors due wthin one year 29,573 527,524 143,8431 557.097 143.8431 Total 29,573 483,681 513,2S4 Page 37

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Analysis of net assets between funds (continued) Analys1$ of n•t assets b•twn fund$- prlor p•rlod Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets Creditors due wthin one year 95,376 798,574 (112, 761) 893.950 (112, 761) Total 95,376 685,813 781, 189 Rg¢on¢Sllallon of net movgment In fvnd¥ to net ¢•¥h flow from opgrallng activlll 2024 2023 Nel incomelexpendilure for the pgriod las per Slalemenl of Financial Activities) {267,9351 78,200 Adjustments lor: Decrease in stocks 101,406 203.942 {68.9181 14, 105 (142.225) 92,459 50, 795 Decreasellincreasel in debtors Increaselldecreasel in credilorn Exchange Igainll loss Not cash provided byllused inl opfrrnting activities {31.5051 93,334 19. Analysi$ of cash and ¢ash equivalents 2024 2023 Cash in hand 406.384 437,889 Total cash and cash equivalents 406,384 437,889 Page 38

UFEBOX FOUNDATION {A ¢¢mpany limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Analysis of changes in net debt At 1 April 2023 Cash flov At 31 March 2024 Cash al bank and in hand 437,889 {31.S051 406.384 437.889 {31.5051 406.384 21. Rolatsd paty transactlons A trustee of Lifebox Foundation is also a trustee of Lifebox Foundation In¢, a US non profit. The charity received income during the year 01 £479.93412023.. £582,179) from Lrfebox Global and had outstandin9 debtors of £68,51012023". £257,554) al the year end. Page 39

2024 Accounts Pack - Lifebox Foundation

Final Audit Report

2024-12-22

Created: 2024-12-13 By: Cheryl Herbertson ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAA03SfSgYfT4jj5Mwp3QSxK2IDIJiCaJu3

"2024 Accounts Pack - Lifebox Foundation" History

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