Registered number.. 07612518 Charty number.. 1143018 LIFEBOX FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 LIFEBOX FOUNDATION IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report 2-14 Indep•nd•nt aud5tors' r•port on the financlal stat•m•nts 15-18 Statem8nt of financial activities 19 Balan¢• $h••t 20-21 Statem•nt of cash flows 22 Notes to the Ilnanclal statements 23-39 LIFEBOX FOUNDATION IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trusteès Dr Millard Derbew Beyene Dr Robert John McDougall Prof Alan Fortjes Mery (resigned 26 September 20241 Pauline Mary Philip I￿$19ned 20 March 20251 Dr Nobhojil Roy Dr Thomas Geoghegan Weiser lappoinled 1 April 20231 Dr Alexander Hannenberg (appointed 26 September 20241 Ms Margarel Kalhleen Harrington lappoinled 27 February 20251 Ms Ju¢Jy Ngele Knanyola lappoinle(127 February 20251 Company r•glst•r¢d number 07612518 Charity regSstered numbor 1143018 R¢glstsr•d offl¢• 21 Portl8n¢J Place London W1B 1PY Company s•cretsry Kristina Torgeson Indopendent audltors 8KL Audil LLP Chartered Accountants 35 Ballards Lane London N3 IXW Banker8 HSBC Bank UK 90 Baker Street London W1U6AX Sollcltors Kirkland and Ellis 1ntemati￿aI LLP 30 Sl Mary Axe London EC3A 8AF Page 1 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees prv3enl their annual rew)rt together with the audited financial stslements of the Charity for the 1 April 2024 10 31 March 2025. The Annual report serves the purposes of both a Trustees, report and a directors, report under ￿rnpany law. The Trustees confim Ihal the Annual report and financial slalemenls of the charitable company comply wth the current statulory requirements. the ￿quIrementS of the charitable company's governing document and the provisions of the Statement ol Recommended Practice ISORPI applicable to charities preparing their accounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} (effective 1 January 20191. Since the Charity qualifies as small under secti1￿ 382 of the Companies Act 201￿, the Strategic report required ol medium and large companies under Ihe Companies Ad 2[￿ Islralegic Report and Directors, Report) Regulations 2013 has been omitted. Obl•ctlvo8 and actlvltles a. Pollclos and obJ•ctlv•s As slalet1 In the Artides of Association. the objects of Lrfebox are: To preserve and protect the health of patients worlthde by Providing and assisting in the provision of equipment and support services in low-resource. lower-middle income and upper-middle income countries, as assessed by the Wodd Bank and United Nalions, at no or reduced cost,. and To advance the etsralion. To maintain high program qualty a¢n)ss diverse settings, we standardized implementstion methlxlologies. trained trainers, and bolstered oijr monitoring and evaluatson S￿lemS. These efforts were underpinned by quarterly reviews of our Global Risk Register and iargeied mitigation strategies, helping us navigate risks effeclively while maintaining a sharp focus on delivering impact. •. Fundral$lng a¢tlvltl•$ and In¢ome g•n•rallon Lifebox has a significant track record of raising private funds- notsbly from individuals and family foundations lo support ils work. New partnerships other NGOS has also been crtb'cal to raising Lifebox's revenue and a significant in¢￿aSe in Trusts and Foundations revenue supwrted the doubling of revenue. During the 2024- 2025 period Lil8box contsnuèd to inuease its outrèach to Trusts arKI Foundations and Wan 8xploring institutional donors. Page 7 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Financial review a. Galng concem After making appropriate enquiries and reviewing the current cash reserves and cash forecasts, the Trustees have a reasonable expectation that the Charity ha5 adequate resources lo continue in operational existence for the loresee8bl8 future. For this reason. they ￿n￿rtUe lo atlopl the g¢ing coneem basis in preparing the fin8n¢ial s¢alemenls. b. Reserves policy Al the close of the ￿rIOd under review w8 retsined unreslrided general lunds of £361.132. The Iruslees consider this to be a prudent reseNe at this sts9e of the charitys development. having regard to our Current plans staffing and othgr commitments for 2025126. In March 2025, the Trustees approved a policy lo maintain free reserves lo rLJver six months essential operations. ¢.Prln¢lplo rl$ks and un¢ertalntlo$ Please s88 table on the next page Page 8 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 5ti*w 2Q25.I) A ¢¥*• L•*Y•rthpi•wh th Ceo CFAO CFO Dh*K)pi**tt Dw•ci wwJ* c•yPkn* sh￿￿￿>￿ ol funty SDurc•s *i•lop Imrl•m•nt 5tliCI ith•in* d*1 $5Si•m K••p •1 IT •wryr•* up1• d#•. u$4#•• lh• dfvTt• Us• cl wli4Ktor O&• (4Jr POlé(Iityl ot1￿*jon3 t)￿0p a tnsi# rl ￿bj$1 Tr*aSui•nwd 10 aSS*S? 9t￿11￿*3 •id 10 hcus k•¥ ￿l£L￿r•i •xpKl•d Lrf to Oth•r SILd Ciiy* Fd•n •1%￿1 r d. Flnanclal rlsk managoment obl•ctlves and pollcles The Trustees arg committgd to a policy of Idents￿.￿j. montioring and managing the risks that might adversely affect the activities of Lifebox. In this context, risk is defined as the potential to fail lo achieve the charity's objectives and for loss, financial andlor repuiational. An ongoing process is in place for identityng, evaluating and managing any significant risks faced by Lifebox and identified by the Trustees or senior management. Appropriate actions have been put in pla￿ to mrtigate the exposure lo and possible ¢)Jnsequences of these risks. Page 9 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 e. 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. Lifebox US reimburses Lifebox UK for activities carried out in delivery of programs as per a collaborative agreement and grant terms. Major grants indude from ELMA Philanthropy, CRI Foundation, Johnson & Johnson Charitable Foundation. etc. f. Rovl•w of thè Y•ar The total donations we receive¢J during Ihe period amounted to £643.99512024.. 517,6571, of which £315,284 12024.. £289,250) was unrestricted an(1 £328.711 12024.. £228,407) roslricte(l. Our totsl expenditurè was £635.23012024'. £785,592) comprising £19.96912024.' £4301 on fundraising and £615,26112024.' £785,162) on chariiable activities. Our surplus of income over expenditure during the period was thus £8,765 and after other losses left us wrth reserves of £454,98712024.' £513,254). Our principal asset al the end of the period was a bank balance of £403.41312024.. £406.3841 and device stock worth £18,726 12024.. £66.1231 held with Acare Technology Co. Ltd in T8iwan. We did not own any investments. Structur81 gov•rnanc• and management a. Con8tltutlon Lifebox is a charitable company limited by guarantee and govemed by its Memorandum and Articles of Association, as amended by special resolutions dated 15 July 2011, 15 May 2012 and 21 November 2015. The charity wa5 registered with the Charity Commission on 21 July 2011 with charity number 1143018. The Memorandum and Artycles reslrict Ihe liability of members on winding up lo £5. In the case of winding up none of the accLJmulaled funds ar8 distributablg lo the membèrs, but will be appli8d for charitabl8 causas as decided by a majority of the Tru$tee$. b. Methods of appointment or ele¢tion ol Trustee$ Lifebox Trustees.. Directors are appointed by resolution of ihe members lor a three-year (erm. Directors are eligible for reappointment at the first Board meeting of the year in which their term expires. None ol the Trustees has any beneficaal interest in the chanty. The Trustees, who a￿ also the directors for the purpose of company law, and who servod during the year were.. Pauline Philip. DBE- CHAIR- Left March 2025 Professor Alan Merry Mb, ChB- TREASURER- Keft December 2024 Professor Millard Derbew Beyene, MD Rob McDougall, MBBS Professor Nobhojit Roy, MD. MPH Thomas Weiser. MD. MPH- TREASURER Alex Hannenberg, MD- INTERIM CHAIR Kate Harrington - General Council- Appointed 27 February 2025 Judy Khanyola - RN - Appoinled 27 February 2025 Page 10 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management (continued) ¢. Organisational $tru¢turo and deci$ionamaking poli¢io5 The Board of Trustees is the body responsible for Ihe management of Lifebox. The Board rneets through formal video conferences al regular intervals throughout the year. Zainab Vally, Head of Finance, is the UK charity's m051 senior staff member. She reports to Glob81 Chief Financial Officer. Judy Ngugi, who 15 based in Kenya and employed by Lifebox US. There is close collaboralion between ihe charity and our sister organisation in the USA. also called Lifebox Foundation, particularfy in developing Strategies and delivering projects aimed at achieving the common mission. The CEO of Lilebox USA, Kris Torgeson works closely together with all staff members of Lilebox UK and the UK Board. All major decisions regarding Lrfebox Foundation are approved by the Board of Trustees. d. Poll¢l•$ adoptod for th• Indu¢llon and traSnlng of Tru$teo$ New Trustees undergo an orientalitin lo briel them on their legal obligations undar charity and ￿MpanY law, th conlenl of the Memorandum and Articles of Association, the ¢Jecision-making process within Lilebox, risk register, annual tsrgets and financial perfomiance. Truslees are also introduced lo the charity's staff and briefed on their areas ol work. Trustees are encourag9d lo attend appropriate external training events wh8re these wll facilitate the undgrtaking ol their role. e. Pay poll¢y for koy manag•m•nt yrsonnal Lifebox is committed lo providing staff fair cOmpensat￿n for their work. encouraging strong workplace performance. and ensuring staff maintain a quality standard of living. Our pay 5cal8s presently are informed by Birches, with annual cost ol living adjuslmenls applied to all staff salaries to account lor inflation and other increases in c051 of living. Staff 8lso qualify lor an increase if Iheir level or scope of respon5ibilily significantly increases. A revised job description is developed and an adjustment lo femuneralion andlor title will be r8comm8nd8d by their line manager in consultation with HR and approvèd by th8 CEO. Salaries for naw positions are informed by the budgel, looking at comparable positions within the organisation as we aim lor pay equity, and scanning the markel lor exlernal parity. Part of being a responsible employer also means remuneration decisions are always made with affordability for sustainability and statutory obligations in mind. Page 11 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management (continued) f. Related party r¢lation$hips There is close collaboration between the charity and our sister organisation in the USA, also called Lifebox Foundation, particularfy in developing strategies and delivering projects aimed al achieving the common mission. The CEO of Lifebox USA. Krislina Torge50n works c105ely together with 811 staff merllbers of Lifebox UK and the UK Board. Lifebox worts d0$91y with several other non-govemmentsl organisations indudin9= Mercy Shlp8 Mercy Ships and Lifebox have established a th)Ilaborat￿n for Educab"¢)n, Training and Advocacy programs and projects lo make surgical and an8eslhesia care saler in the countries th81 Mercy Ships partners wilh through reducing surgical site infections. improving anaesthesia safety. and promoting teamwork. Projects include implèmèntation of the Clean cu￿ Program. donation of lile-saving equipment, and olhgr trainings such as SAFE Operating Room and NuisiThJ L6adership for Surgical Excellancé. SmlleTraln Lifebox and SmileTrain have developed the Smile Train-Lifebox Safe Surgery and Aneslhesia Initiative lo develop and deliver high-impacl tools and prtyJrams lo improve surgical and anaeslhesia safely and care for cleft patients in Smilè Train's partner facilili8s", distinguish Smile Train as th8 leadèr in saf8 cl8ft care and raise the standard ol surgical and anaesthgsia safety in low-rewur¢e settings woddwide., and strengthen Lif¢box'$ capacity lo provide expertise on surgical and anaeslhesia safely in LMICS for the long-lemi. g. Flnanclal rlsk management The Trustees are commilted lo a policy of ideniilw'ng. monitoring and managing Ihe risk5 that might adversely affect the activities ol Lifebox. In thi5 context. risk is defined as the potential lo fail lo achieve the charills objectives and for loss, fin8nci81 an¢Jlor reput8lion81. An ongoing process Is in place for idenlifw"ng. evaluating and managing any significant risks faced by Lilebox an(1 idenlified by the Trustees or senior management. Appropriate actions have been put in place to mitigate the exposure lo and possible consequences ol these risks. Page 12 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods Last financial year (April 2024-Marcth 20251 we developed a new five-year Strategic Plan12025-20301 focused on surgical systems strengthening. Our new approach will evolve to focus on supporting partner hospitals to identify, define. and reach their own goals for surgical safety. Our approaches in the 202&2030 strategic plan indude.. System Assessment and Planning: analysis of perioperative systems in each hospital, system, or region through process mapping and readiness assessment tLN)Is18s developed as part of Clean Cutl. Saf8ty and Quallty Int•r¥•ntlons: Integration of evidence-based safety protocds, essential equipment. and targeted training to address identified gaps. Sustslnablllty.. Btjilding lasting prc¥Jram viability through local leadership and syslem-adapled approaches. Scalè and Adaptation.. Expanding impacl by using a dustering and cascading mod61 to scale system- adapted and embedded approaches. Thè 202>2030 Strategic Plan will addfyss key issues to the safety of surgical patianls in low-rasource s&tting8'. Infection prevention.. continue lo adapt the surgical infection reduction program Clean Cul to incorporate new evidence and infection prevention standards wilh an emphasis on flexibility for partner hospitals. Matarnal and neonatal outcom8s.' continua thè adaptation ol Ihe LilobDX Clèan Cut program to addrgss other key risks assoaaled with caesarean Section. including p05tpartum haemorrhage. Paedialric surgery.. investigate use of the Clean Cul methodology lo reduce key risks of infecllon and mortality lor paediairic surgery and develop and roll out additional quality improvement components at hospitals th81 provide paediatric surgery. Nursing leadership." implgmenl the Lifetrx)x Nursing Leadership for Surgical Excellence program at partner hospitals to build the leadership skills in perioperalive nurses for safer patient care. Safer monitoring.. continue lo address the lack of access to capnography in low-resource selling operaUng rooms with core partner Smile Train to improve anaesthesia safety. Anlimicrobial resislance.. pilol and scale up an anlibiolic stewardship program to address the overuse of posloperalive 8nlibioli¢s wlh the aim of il being incorporaled into Ihe Clean Cul program. Environmental impact.. pilol work (o minimise environmental impacl of surgery by adapting a Green Theatre Checklist lo reduce the environmental impact of surgery. Page 13 LIFEBOX FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities The Trustees (who are also the directors ol the Charity for the purposes of company lawl are responsible for preparing the Trustees. report and the finanaal stalements in accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Comp8ny18w requires the Trustees to p￿pare finan(ial ststements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied thal Ihey give a true and lair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consislentty.. observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting gslimales that are reasonable and prudent; state whether applicable UK Accounting Standards IFRS 1021 have b8en followed, subject to any material departure5 disclosed and explained in the financial stslemenls.. prepare the financial statements on the going concem basis unless it is inappropriate to presume th8t the Charity will conbnue in business. The Trustees are responsible for keeping adequate acccMJnling records that are sufficlenl lo show and explaln the Charills transactions and disclose wth reasonable accuracy al any lime the financial position ol the Charlty and 8nable Ihgm lo ensurè thal the financial slalements comply with the Companigs A¢1 2006. Thgy arg also responsible for safeguarding the a$sels of the Charity and hence for taking reasonable steps for the prevgntion and detection of fraud and oiher irregularitses. Dlsclosure of Infomiation to auditors Each of the persons who are Trustees at the time when this TnJslees' re￿1 is approved has confimied Ihal.. so far as that Trustee is aware. there is no relevant audit infonnation ol which the chariws auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Tnjstee in order to be aware of any relevant audit informalK)n and lo establish Ihal the charivs auditors are aware of that inlomialion. Auditors The auditors. BKL Audit LLP, have indicated their willingness lo continue in office. The designated Trustees will propose a motion reappointing the auditors al a meeting of the Trustees. Approved by order of the mernbers of the board of Tnjslees and signed on their behalf by.. 6 Weisek Dr Thomas Geoghegan Weiser Treasurer Dale.. Dr RobertJohn McDougall (Trustee) 0211012025 0311012025 Page 14 LIFEBOX FOUNDATION IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LIFEBOX FOUNDATION Opinion We have aLJdited the financial statements of Lifebox Fotjndation Ithe'¢haritable Companll lor the year ended 31 March 2025 which comprise the Stalement of financial activilies. the Balan￿ sheet, the Statement of cash flows and the related notes, including a summary of significant accounting FKJlicies. 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 ol Ireland, Iunitetl Kingdom Generally Accepletl AcLxxJnting Practic81. In our opinion the financial statements.. give a true and fair view of the stste of the charitsble c(Mnpanls affairs as at 31 March 2025 and of its incoming resources and application of resources. induding its inc4)me and expenditure for the year then ended., have been properly prepared in accordancg United Kingdom Generally A¢c8pt8d Accounting Practice,. and have been prepared in accordance wlh the requirements of the Charlues Acl 2011. Ba8Ss for oplnlon We conducted our au(lil in accordance with Inlemalional Stsn¢Jards on Auditing IUKI IISAS IUKII and applicable law. Our rgsponsibililies under Ihosg stsndards are further desuibed in the Auditors, responsibilities for the audit ol the financial siatemenis sedion of our report. We are independent ol the charitable company in accordance with the ethical requirements that are relevant to our audil of the financial statements in the Uniled Kingdom, including the Finanaal Reporting Council's Ethical Standard. and we have fulfilled our other ethical respon5ibililies in accordance with these requirements. We believe that the audrt evidence we have obtained is sufficient 8nd appropriate lo provide a basis for (Mjr opinion. Concluslons relatlng to golng conc•rn In auditing the financial ststements, we have conduded that the Tnjslees, use of the going concern basis of 8¢counting in the preparation of the ffinanoal ststemgnts is appropriato. Based on the work we have performed, we have not vjenlified any material uncertainties relating lo events or condilior15 that, individually or collectively. wnay cast significant doubl on the ch8ri18ble companys ability lo continue as a going concem for a ptrriod of at least twelve months from whtrn the finanaal statements are authorised for issue. Our responsibilf(ies and the responsibilities of the Trustees with respect lo going wncem are described in the relevant sections of this report. Page 15 LIFEBOX FOUNDATION IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI other infomiation The other inlormab'on Comprises the infomation in¢luiJed in the Annual ￿port other than the financial statements and our Auditors. report Ihereon. The Tnjslees are responsible for the other infomiation contained within the Annual report. Our opinion on the financial statements does not cover the other informalion and, except to the extent otherwise explicitly staled in our reFM)rt, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infoffliation and. In doing so. consider whether the other information is malerially inconsislenl w¢h Ihe financial stalefflenls or our knowledge obtsined in the course ol the audit, or otherwise appears to be materially misstatèd. 11 we identify such matèrial inconsistències or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the wot* we have performed, we conclud8 that there is a material misstatement of this other inforniation, we are required to report that fact. We have nolhlng lo report In this regard. Matter8 on whlch we are requlred to report by exceptlon We have nothing lo report in resF*cI of Ihe following matters where Ihe Charilies IAccoun¢s and Reports) Rggulations 2008 require$ us to report lo you rf. in our opini￿. the information glven in the Tnjstees, report is Inconsislent in any malerial respect wllh the financlal statements,. or sufficient acLX•unling records have not bèen kept,. or Ihg financial statements are nol in ag￿ement with the accounting records and returns, or we have not received all Ihe information and explanations we require for our audit. R•8pon8lbllltl•$ of trustè•s As explained more fully in ihe Tnjslees. responsibilibes siatemenl, the Trustees (who are also the directors of the charitable company for the purposes ol company lawl are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair view, and for such inlemal control as the Trustees determine is necessary lo enable Ihe preparation of financial stslements that are free from material misslalemenl. whether due to fraud or error. In preparing the financial siatemenis, Ihe Truslees are responsible for assessing the charitable companys ability lo continue as a going COn￿M, disdosing, as applicable. matters related lo going concem and using the going concem basis of accounting unless the Trustees either intend lo liquidate the ch8ritsble company or lo ceaso operations, or havg no ¥ealisb"¢ altsmatsvg but lo do so. Page 16 LIFEBOX FOUNDATION IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI Auditors. responsibilities for the audit of the financial ststernents We have been appointed as auditor under section 145 of the Charities Act 2011 and report in acwrdance with the Acl and relevant regulations made or having effecl Ihereunde(. Our objectives 8re lo obtsin reasonable assurance about whether the financial statemen15 85 8 whole are Ir88 from material misstat6ment, wheU)er due to fraud or error, and lo issue an Auditors, report that in¢ludes OLJr opinion. Reasonable assurance is a high level of assuran¢e, but is not a guarantee that an audit condu¢ted in accordance with ISAS IUKI wll always detect a material misstalement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularilies. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material missiatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Enquiring of management around actual and potential litigation and claims; Reviewing board meeting minutes of meetings of those charged wrth govemance,. Reviewing financial slalemenl disdosures and testing lo supp)rting docvmentstion to assess compliance with applicable laws and r9gulalions". Performing audit work over the risk of management override of controls, induding le51ing of joumal entries and other adjustments lor appropri8teness, evalualing the business rationale ol slgniflcanl Iransaetlons outside the nomial course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstalement in the financial stalements or nonvcompliance wilh regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non-compliance. The risk is 81so great8r r￿ardIng irr8gulariti8s occurring du8 to fraud rather than error, 8s fr8LJd involves intentional concealment, forgery, collusion, omission or misrepresentats'on. As part of an audit in accordance with ISAS IUKI, we exerase professional judgment and mainlain professM)nal scepliasm throughout the audit.we also.. Idèntfy and assgss thè risks of matgrial misslatgment of thg financial statements, whgthor dug lo fraud orerror, design and perform audit procedures responsive lo Ihose risks, and obtain audil evidence ihat issufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resultsng from error, as fraud may involve collusion,forgery. inten￿'Onal omissions, misrepreseniations, or Ihe override of internal control. Obtain an understsnding of inlemal ¢xJntrol relevant lo the audit in order lo design audit procedures that are appropriate in the circuMstar￿es. but not for the purpose of expressing an opinion of the effectiveness ofthe charity's inlemal control. Evaluate the appropriateness of accAxJnting policies used and th6 r6asonab16ness of accounting estimatesand related disdosures made by the Trustees. Conclu(Je on the appropriateness of the Twslee5' Use of the going con￿rn basis of accounting and, basedon the audit evidence obtained, whether a material uncertainty exists relaled to events or conditions that may cast signrficant doubt on the chariws abilty to conlinue as a going concern. If we conclude that amatèrial uncèrtainty èxists. we are requir￿ to dTaw attention in our Auditors, report to thé rélatèd disdosures in the financial statements or, if such disclosures are inadequale, to modify our opinion. Our C4)nclusions are based on the audit eviden￿ obtaineil up to the dale of our Auditors, report. However, future events or condits'ons may cause the charity to cease to continue as a going concem. Evaluate the overall presentation, struclure and content of the finanaal statements, including the Page 17 LIFEBOX FOUNDATION IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UFEBOX FOUNDATION ICONTINUEDI dis¢lostJres, and whelh$r Ihtr financial ststements represent the underlying transactions and events in a manner that achieves lair presentation. We communicate with those charged govemance regarding, among other maiters, the planned scope and timing ol the audit and signrficant audit findings. induding any significant deficiencies in intemal control that we identify during our audrt. A further description of our responsibilities for ihe audil of the financial siatemenis is located on the Financial Reporting Council's website at.. www.frc.o .uklauditorsres nsibilities. This description forms part of our Auditors, report. Us¢ of our r•port This report is made solely lo the charitable compan￿5 trustees. as 8 body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work has b88n undertaken so that we might slate to the charitable companls trustees those matters we are required lo stale lo them in an Auditors, report and for no other purpose. To the lullesl exlenl pemilted by law, we do not accepl or assume responsibility to anyone other than the charitable company and its members, as a body. for our audit wot*, lor this report, or for the opinions we have formed. BKL Audit LLP BKL Audlt LLP Chartered Account8nts Slalulory Auditor 35 Ballards Lane London N3 1XW Dale.. 0311012025 BKL Audit LLP are eligible to act as audilors in lerms of seciion 1212 of ihe Companies Act 2006. Page 18 LIFEBOX FOUNDATION IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2025 Total funds As Restated 2024 Restricted Unrestricted funds funds 202S 2025 Total funds 202S Incorne from.. Donations and legacies Charitable activitlgs 328,711 313,147 2,137 641.B56 2,137 455,999 61,658 Total Income 328,711 315,284 643.995 517.657 Ex￿nditUre on: Raising funds Charitable activities 19,969 343,324 19.969 615.261 430 785,162 271.937 Total 8xpgnd5tur8 271,937 363,293 635,230 785,592 N8t movemènt In funds before oth•r recognlsod galn8llloss•81 $6,774 (48,0091 8.76S (267,935J Other r•¢ognl$•d galnslllo8sesI: Exchangg losses 167,0321 167.0321 Net movement In fund# 56,774 (115,0411 158,2671 (267,935) R•conclllatlon of funds: Total funds brought forward Nel movement in funds 29.573 56.774 483,681 (115.0411 513.254 158.2671 781, 789 (267,935J Total funds carrled forward 86,347 368,640 454.987 513,254 The Statement of Financial Actiwties indudes all gains and losses recognised in the year. The notes on page5 23 10 39 form part of these finanual statements. Page 19 LIFEBOX FOUNDATION IA company limited by guarantee) REGISTERED NUMBER: 07612518 BALANCE SHEET AS AT 31 MARCH 2025 202S 2024 Currant ass8ts Stocks Debtors Cash al bank and in hand 11 12 18,726 120,637 403,413 66, 123 84.590 406,384 542,776 557,097 Creditors- amounts falling due within one year Total not assets 13 187,789} (43,843) 454,987 513,254 Charlty funds Restricted funds Unreslricled lunds 14 86,347 29.573 Designated funds General funds 14 7.508 361,132 7,508 476,173 14 Totsl unrestricted lunds 14 368.640 483,687 Total funds 454,987 513,254 The gnlity was entit19d lo gxgmption from audit undgr sedion 477 of thg Companigs A¢1 2006. The members have not required the entity io obtain an audit for Ihe year in question in accordance with section 476 of the Companies Act 2006. However, an audit has been perfomied in accordance wth section 145 of the Charities Act 2011. The Trustees aCknO￿edge th9ir r8sponsibilib.es for comptying wilh the requirements of the Act with rèspèct to accounting records and preparation of financial siatemenis. The financial siatements have been prepared in aL¥))rdan￿ wilh the provisions applicable to entities subject to the small companie5 regime. The financial stslements wer& approved an(J authorise(I for issue by the Trustses and signed on their bghalf by. Page 20 LIFEBOX FOUNDATION IA company limited by guarantee) REGISTERED NUMBER: 07612518 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2025 Dr Thomas Geoghegan Welser Tre85urer Dale.. Dr RobertJohn McDougall Trustee 0211012025 0311012025 The nolos on pages 23 to 39 lomi part of these financial statements. Page 21 LIFEBOX FOUNDATION IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash flows from operating activities Nel Cash used in operating activities 12,9711 (31,505) Change In cash and cash equivalents In the year C88h and cash equivalents at the beginning of the year 12,9711 406,384 131,5051 437.889 Cash and eash 8quSval•nts at th• end of th• year 403,413 406,384 The notes on pages 23 10 39 lorm part of these finanoal stslements Page 22 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 G8n8ral Infomiatlon Lifebox Foundation is a charitable cornpany that was incorporated on 21 April 2011 and registered with the charity commission on the same dale. The Memorandum and Articles were further amended by sperial resolutions on 15 July 2011. 15 May 2012 and 21 November 201 S. Accountlng pollcles 2.1 Bas1$ ¢1 prfrparatlon of flnan¢lal stst¢m•nts The financial statements have been prepared in a￿)rdance wth the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard applicable in the UK 8nd Republi¢ of Ireland IFRS 10218nd the Companies Act 2006. Lifebox Foundation meets the definition of a public benefft entity under FRS 102. Assets and liabilities ar8 initially recognised al hislori¢al ¢o$t or Iransaction value unl8$$ othetwisg Stated in the relevant accounting policy. 2.2 Income l income Is recc¥anised once the Charity has entluemenl lo the Income, 11 is probable that the income will be received and the amount of income receivable can be measured reliably. Gifts in kind donaled for dislributson are included al valuation and recognised as income when they are distributed to the projecls. Gifts donated for resale are included as income when they are sold. 2.3 Expenditurt Expenditure is recognised once there is a legal or constructive obligation lo transfer economic banefil to a third paty. it is probabl8 that a transfer of economic b6nefits will b& raquired in settlement and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The cosls ol each activity are made up of the toial ol direct cosls and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity 8nd support costs which are not attn"bulable to 8 single activity are apportioned between those a¢tiviti8s on a basis ¢onsistènt wth thè use of resources. C8ntral stsff costs are allocatgd on the basis ol time spenl. and depre¢iatson ¢harg¢s allocatod on the po￿On of the asset's uso. Expenditure on raising funds indudes all expenditure incurred by the Charity to raise funds lor its charitable purposes and indudes costs of all fundraising aclivities events and non-charilable trading. Expen¢Jilure on ch8ritsble actiwties is in¢urred on direcuy undertaking the activities which further the Charitys objÈctlV8s, as well as any aSS￿l8ted support costs. l expendilure is inclusive ol irrecoverable VAT. Page 23 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {continuedl 2.4 Sto¢k$ 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 costs and an appropriate proportion of rixed and variable overheads. 2.5 D•btors Trade and other debtors are recognised al the settlemenl amount after any Irade diswunt offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash al bank and in h8nd includes cash and short-lem) highly Ilquld Snvestmenls wlth 8 short maturily of three months or less Irom Ihe date of acquisition or opening of the deposit or similar acwunl. 2.7 Llabllitles and provi8lons Liabilities are reco9nised when there is an obligation al the Balance sheet d8te as a result of a past event, il is probable that a transfer of economic benefit wll be requlred In settlemenl, and the amount of Ihg setuemenl Can be gslimaled ￿lIablY. Liabilities are recognised at the amounl thal the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payTnents lor the goods or services it must provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect ol the lime value ol money is material, the provision is based on the prtrsenl value of Ihos amoLJnts, discounted al the P￿-taX discount rate that ￿fleCt$ the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of finanaal activrties as a finance cost. 2.8 Flnanclal Instruments The Charity only ha5 financyal a55e15 and financyal liabilities of a kind that qualify as basic financial inslrumenls. Basic financlal instruments are inilialty recognised al Ir8nsaction value and subseouently measured at their settlgment value ￿th the exception of bank 108ns which are subsequenlly measured at amortised cost using the effective interest method. Page 24 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {continuedl 2.9 Fund a¢¢ountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designatéd funds comprise unrgslricted lunds Ihat have been set aside by tho Trtjstees for particular purposes. The aim an(1 use of each designated fvnd is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raise(J by the Charity for particular purposes. The costs ol raising and 8dminislering such lunlls are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the financial statements. In¢ome from donatlon$ and 1ggacS•s Restrlct•d Unrèstrlcted funds funds 2025 2025 Total funds 2025 Donab'ons 328,711 313.147 641,858 Restricted Unrestricted fund$ furtds 2024 2024 Total funds 2024 Donations 228,407 227,592 455,999 Income from charitable activities Unr•$trlet•d funds 2025 Total funds 2025 Income from Charitable adivities- Improwng Anaesthesra Safety 2.137 2,137 Page 25 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from charltabl• actlvltles Icontlnuad) Unrestricted funds 2024 Total funds 2024 Income from charitable ath'vitses- Improving Anaesthesia Safety 61,658 61.658 Expendlture on Tal$lng fund$ Costs of ralslng voluntsry In￿me Unre8tr5cted funds 2025 Total funds 2025 Subscriptions & License Fees CRM & Online Systems Fees 218 19,753 216 19,753 19.969 19,969 Unrestrictsd fvnds 2024 Tolal funds 2024 Subscriptions & License Fees CRM & Online Systems Fees 336 94 336 94 430 430 Page 26 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expenditure on charltable actlvitles Summary by fund type R¥$trlet•d Unro$trletèd fund$ fund$ 2025 2025 Total 2025 Improving Anaeslhesra Safety Reducing Surgical Site Infections Promoting Surgical Teamwork 33,64S 155,002 83,2 185,529 73.173 84.622 219,174 228,175 167,912 271.937 343.324 61S,261 Reslricled Unrestricted lunds funds 2024 2024 Tol&l 2024 Improving Anaeslhesia Salety Reducing Surgical Sile Infections Promoting Surgical Toamwork 378,897 161,206 10,849 378,897 267,527 198,738 106,321 187,889 294,270 490,952 T85, 762 Analy$i$ of expenditure by a¢tivitie$ Actlvltl85 undertaken directly 2025 Support costs 2025 Total funds 2025 Improving Anaesthesia Safely Reducing Surgical Site Infections Proffloling Surgical Teamwork 142,666 126,164 91,314 76,508 102,011 76.598 219,174 228,175 167,912 360,144 255,117 615,261 Page 27 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expenditur8 by actlvltles 1contlnu￿l Activities undertaken diTrGtIy 2024 Support costs 2024 Total funds 2024 Improving Anaesthesia Safety Reducing Surgic81 Sile Infections Promoting Surgical Teamwork 240,587 163, 112 120,422 78,316 104,415 78.316 318,897 261,527 798,738 524, 115 261,047 785, 762 Analysls ot dlrect costs Rodu¢Sng Surgl¢al Promotlng Slte Surgl¢al Inf*ction$ T•amwork 2025 2025 Improvlng Anae$the$la Safety 2025 Total funds 2025 Stsff costs Pulse Oximelgrs & Research Training & Education Clean Cul Implementation Headlight Travel US Programmes Communications & Marketing Inslilulional Conlenl & Desig Software. Licenses & Wèbsi18 Other Direct Costs s6,￿3 53,316 975 77.437 41 SS,336 30 3,569 189,676 53,387 5,843 5,423 907 1,816 85.158 4,418 7.294 5,252 970 1.299 5.423 545 25,547 1,325 2,188 1.576 291 726 34.064 1.768 2.918 2,100 388 545 25,547 1,325 2,188 1,576 291 142,666 126.164 91,314 360.144 Page 28 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expenditur8 by actlvltles 1contlnu￿l Analysis of direct costs Icontinuedl Improving Reducing Anaesthè&ia Surgical Site Safely Infections 2024 2024 Promoting Surgical Teamwot* 2024 Total fvnds 2024 Stsff costs Pulse Oximelers & Research Training & Educatson Capnography Clean Cul Implemenlalion Headlight Travel 83,127 122, 719 1,490 4,613 110,835 130 961 83, 127 97 2,019 277,089 122,946 4,470 4,613 12,001 6,547 23,923 70, 710 28,694 6, 777 21,369 2,652 I,oii 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 T96 9.569 4.284 11.478 2,711 8,547 1.060 1.011 156 369 Consultancy Emergency Support Communications & Marketing Institutional Content & Design so￿are, Licenses & Website Fellows Events Other Dirod Costs 118 276 118 276 240.587 163. 172 120,422 524, 115 Page 29 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expenditur8 by actlvltles 1contlnu￿l Analysis of support costs Rèduclng Surglcal Promotlng Site Surglcal Infections Teamwork 2025 2025 Improvlng Anaesthesla Safety 2025 Total funds 2025 Staff costs Consultancy Bank Charges Rent HR & Payroll Stsff Training Subscriptions Travel Insurance Other Support Costs Foreign exchange Govemanee costs 42,261 18,047 56.348 24,062 180 42,261 18,047 134 632 627 975 536 140,870 60,156 448 2,107 2,091 3,249 1,786 1,854 1,091 24,496 2,569 14,400 632 627 975 536 837 1,299 714 529 327 7,349 771 4,320 706 437 9,798 1.027 5.760 619 327 7,349 771 4,320 76,508 102,011 76,598 255,117 Page 30 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of expenditur8 by actlvltles 1contlnu￿l Analysis of support costs {continued) Improving Reducing Anaesthè&ia Surgical Site Safely Infections 2024 2024 Promoting Surgical Teamwot* 2024 Total fvnds 2024 Stsff costs Consultancy Bank Charges Rent Meeting Room Hire HR & Payroll Staff Training Subscriptions Travel Insurance Other Supp¢yt Costs Govemance cosls 57,541 8,585 305 76,721 11,445 407 57,541 8,585 305 3,323 689 191,803 28,615 1,017 11,075 2,296 2,802 84 3,323 689 841 25 4.429 918 1, 120 34 380 425 236 440 7.860 25 285 379 177 285 319 177 331 5,895 950 1,063 590 Y, 102 19,650 331 5,895 78.316 104.415 78.316 261,047 Govemance costs in both 2023 and 2024 relate to fees payable lo the Ch8ritls Auditor. Audltors, r•mun•ratlon 2025 2024 Fees pay8ble lo the Charitys auditor for the prep8ralion and audti of the Charitls annual accounts 14,400 14,400 Page 31 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Staff costs 2025 2024 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 288,193 33,557 8,796 410,802 45,905 72,185 330,548 468,892 The 8verage number of persons employed by the Charity during the year w89 as follows: 2025 No. 2024 No. The numb8r ol 8mployees whose employee benéfits lexduding employer pension costs) exceeded £60,000 was.. 2025 No, 2024 No. In the band £60,CK11- £70,000 In the band £70,001- £80,000 In the band £80,001- £90.000 Kèy management personnel consists of the Chief Programmes Offic8r and th8 Haad of Financ8. Thè total employee remuneration and benefits of the key management personnel of the Charity were £91,683 12023.. £86,978). 10. Trustees. remuneration and expenses During th8 year, no Truste8s rec&iv8d any remunèralion or other b8n8fits (2024- £NIL). During the year ended 31 March 2025. no Trustee expenses have been incurred (2024 . £NIL). 11. Stocks 2025 2024 Oximelers and Probes 18,726 66. 123 Page 32 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Dèbtors 2025 2024 Du• wlthln one year Trade debtors 120,637 84,590 120,637 84,590 13. Credltorn: Amounts falllng du• wlthln one year 2025 2024 Trade crediiors Othgr creditors A¢¢ruals and deferred inwme 38,339 7,877 41,573 12,876 30,967 87,789 43,843 Page 33 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statem8nt of funds Statement of funds- current year Balance at 31 March 2025 Balancè at 1 Aprll 2024 Galnsl ILoss•$l In¢omo Expondlturo Unrestrlcted funds Deslgnated fvnds Improving Anaesthesia Safety Reducing Surgical Srte Infection5 Promoting Surglcal Teamwork 78.608 {78.6081 7,508 20.307 45,696 {20,3071 {45,6961 7.508 7,508 144,611 {144,6111 7,508 General fund$ General Funds- all funds 476,173 170.673 {218,6821 167,0321 361,132 Total Unre8trlct8d funds 483,681 315.284 {363,2931 167,0321 368,640 Restrlcted funds Improving Anaeslhesia Safety Reducing Surgical Srte Infections Promoting Surgical Teamwork 36.964 {33,6451 3.319 29,573 208.457 83,290 (155,0021 {83,2901 83,028 29,573 328.711 {271,9371 86,347 Totsl of funds 513,254 643,995 {635,2301 167,0321 454,987 Page 34 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statem8nt of funds Icontlnuad) Designated funds comprise.. Im rovin Anaeslhesia Safe Amounts designated mainly for distribution of devices (pulse oximeters. Capnographs and headlights). This also includes training on ihe use of pulse oximetsrs and capnographs. Reducin Sur ical Sile Infections Amounts designated for the implementslion of the Lifebox clean cul programme. The programme is a series ol workshops and trainings designed lo reduce surgical site infections. motin Su l T8amwork Amounts designated lo provide training to operating room staff to Promote effective communication in the operatsng room. Restricted funds compr6se'. rovin Ana sth sia af81 Reslricled monies given mainly lor distribution of devices Ipulse oximeters, capnographs and headlighlsl. This also indudes Iraining on the use ol pulse oximelers and capnographs. Restrictod monies givon lor tho implementation of the Lrfobox Clean cut programme. Thg programmo1$ a series of workshops and Irainings designed to redLbce surgical site infects'ons. Prornolin ical Teamwork Rtrslri¢ted monies given to provide training lo operating r¢y)m staff lo promote effective communication in the operating room. Page 35 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statem8nt of funds Icontlnu8d) Statement of funds- prior year 88lance 81 31 March 2024 Balance at l Apnl 2023 Transfers in/out Income Expenditu Unrestrlcted funds Deslgnated fvnds Improving Anaesthesia Safety Reducing Surgical Srte Infection5 Promoting Surglcal Teamwork 143, 10T (150.616) 7,509 19.074 5.468 (11.566) (6,883) 7,508 7,415 167,649 (169.065) 8,924 7,508 General fund$ General Funds- all funds 685,813 121,601 (322.317) (8,924) 476, 173 Total Unre8trlct8d funds 685,813 289,250 (491,382) 483,687 Re$tri¢ted lund$ Reducing Surgical Srte Infections Prornoling Surgical Teamwork 95.376 40,518 187,889 (106.321) (187.889) 29,573 95,376 228,407 (294.210) 29,573 Total of funds 781, 189 517,65T (785.592) 513,254 Page 36 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Summary offunds Summary of funds- current year Balance at 31 March 2025 Balancè at 1 Aprll 2024 Galnsl ILoss•$l In¢omo Expondlturo Designated funds Gentrral funds Restricted funds 7,508 476,173 29.573 144.611 170,673 328.711 {144,6111 {218,6821 (271,9371 7.508 361,132 86,347 167,0321 513,254 643.995 {635,2301 167,0321 454,987 Summary of funds- prlor yoar 8alance al 31 March 2024 Balance at l Apnl 2023 Transfers inloul Income Expenditur9 Dèsignated funds General funds Restrictod funds 167.649 121,601 228,407 (169.065) (322,317) (294.210) 8.924 {8,924J 7,508 476, 173 29,573 685,813 95,376 781, 189 517,657 (785.592) 513,254 16. Analy515 of net assets between lunds Analysls of net assets between fvnds- Current year Restrlcted Unr8strlct8d funds funds 2025 2025 Total funds 2025 Current assets Credilors due within one year 86,347 456.429 187,7891 542,776 187,7891 Total 86.347 368.640 454,987 Page 37 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Analysls of nat ass8ts between funds {contlnued) Analysis of net assets between funds- prior year Resliicled Unreslricled fund$ funds 2024 2024 Total fvnds 2024 Current assets Creditors due within on6 year 29,573 527,524 (43,843) 557,097 (43,843) Total 29,573 483,681 513,254 17. Reconclllatlon of n•t movement In funds to not cash Ilow from OPera￿n9 actlvltles 2025 2024 Net incomelexpenditurg f¢y the year las per Statemenl of Finanoal Acliviliesl 8,765 {267,935J Adlustmtnts for: De¢r¢ase in slo¢ks Decreasellincreasel in deblors Inereaselldecreasel in creditors Exchange Igainy Ioss 47,397 {36,0471 49,995 167,0321 101,406 203,942 (68,918) N•t cash provld•d byllus•d In) op•ratlng actlvltlo$ 3,078 (31,505) 18. Analysls of cash and cash equlvalents 2025 2024 Cash in hand 403,413 406,384 Total cash and cash equivalents 403,413 406.384 Page 38 LIFEBOX FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Analysls of changes In net debt At 1 April 2024 Cash flows At 31 March 2025 Cash at bank and in hand 406,384 12,9711 403,413 406,384 12,9711 403,413 20. R•lat•d party transaetlon$ One trustee of Lifebox Foundation is also a trustee of Lifebox Foundation Inc, a US non profit. The charrily received income during the year of £439.55612024.. £479.9341 from Lif8box Global and had outstanding debtors 01 £109.83212024.. £68.S101 al the year ènd. There is an outstanding balance of £38,33912024'. £Nill due lo Lifebox US al Ihe sear end. Page 39 Lifebox Foundation 21 Portlond ploce, London. Englond, Wl8 IPY Dale: .021101202&.......... Your ref.. LIF(K)2 BKL Audit LLP 35 Bollords Lone London N3 IXW Deor Sirs This represenlolion leller is provided in connection wlh your audil of the financial stotements ol the Chority lor the year ended 31 Morch 2025 lor the pvrpose ol expressing on opinion 05 lo whether the finonciol slalemenls give a Irve and lair view ol the results ond linoncial position ol the Chorily in occordonce with the Componies Act 2006. the Charities Act 2011 ond United Kingdom Accovnling Slondords Iuniled Kingdom Generally Accepted Accounting Prachcel. GENERAL We hove lullilled os Iruslees our responsibility under the Componies Act 2006 ond the Charities Act 2011 for preporing linonciol stolemenls in accordance wilh opplicable low and United Kingdom Accounting Slondard5 (UK Generolly Accepted Accounting Praclicel which give o true and lair view and lor making accurate represenlalion5 10 you. All the accounting records have been mode ovailable to you for the purpose ol your oudil ond oll the Ironsoclions underloken by the Chority hove been properly reflected ond recorded in the occounling records. All olher records ond reloled inlormolion. including minutes ol oll monogement and tnjslee meetings. hove been mode avoiloble lo you. We olso ensvred you hod unreslricled occess to persons from whom you detenmined necessary to obtoin oudit evidence. We confirm Ihat the linanciol statements are free of moleriol misstatements, including omissions. We believe Ihal the effect of uncoffecled misslatemen15 is immaterial both individually and in total. We further confirm that we have reviewed the attached summary ol vnodjusled errors ond that Ihese erTors have nol been adjusted because each individual error is not material and the aggregated effect on the linanciol slalemenls ol oll unodjusled errors is not moteriol. We underslond Ihol, under Ihe FRC Elhicol Slondord. the provision of oudil and non- Registered of1￿e= 21 Portlond Ploce. London. Englond. WIB IPY Registered in Engbnd & Woles no. 07612518 Regtstered charity no. 1 143018 Lifebox Foundation 21 Portlond ploce, London, Fnglond, WIB IPY ovdil services by yov to Ou￿elveS gives rise lo o potenliol Ihreol lo independence. We confirm that you have explained to us the Ihreals and the 50leguaids that you hove put in ploce to oddress the polentiol sell-review threot. We confirm that we have di5CUS5ed the draft accounts and final joumals and agree lo inclusion ol the attached journals in the final accounts. INTERNAL CONTROL AND FRAUD We ocknowledge our responsibility lor the design. implementolion ond mainlenonce ol inlernol control systems lo prevent ond detect froud ond error. We confirm Ihot following our risk ossessmenl, in our opinion. the finonciol slolemenls ore not moleriolly misstated as a result ol fraud. We hove disclosed lo you all instonces ol known orsuspecled Iroud allecling the enlily involving manogemenl. employees who have a significant role in inlemol control or other5 Ihal could hove a material effecl on the finonciol 5totement5. We hove olso disclosed to yov all inlomiation in relolion lo allegolions ol traud or Suspected Iroud allecting the enlity's finonciol statements commvnicoted by current or former employees. onalysls. regulolors or others. ASSETS AND LIABILITIES We conlim Ihal assets ore included in the financial slatemenls ot no more than their recoveroble amounts and Ihal liabililies ore included ot Iheir expecled cost lo the chorily. We confirm Ihol the fixed 05sels are recorded in the financial slolement5 al no more than their recoverable amount. l O. We confirm Ihol the Chorily hos solisfoclory litle lo oll ossels ond there ore no liens or encumbronces on the Chorily's ossets. except for Ihose Ihol ore disclosed in the notes to the linonciol slolemenls. I l. We confirm thot we hove recorded or disclosed, os oppropriote, oll liobilities, both actual and conlingent, and have disclosed in the notes to the financial statements all guarantees thot have been given to Ihifd porties. 12. We confirm that we hove r)0 plons or intenlior)5 that moy materially alter the carrying value or classilicotion ol asset5 and liabililies reflected in the financiol statement5. ACCOUNTING ESTIMATES 13. Signiliconl ossumplions used by vs in moking occounling estimoles, including those meosured ot loir volue. ore reosonoble. Registered of1￿e= 21 Portlond Ploce. London. Englond. WIB IPY Registered in Engbnd & Woles no. 07612518 Regtslered charity no. 1 143018 Lifebox Foundation 21 Portlond ploce, London. Englond, Wl8 IPY LEGAL CLAIMS 14. We confirm thal all claims in conneclion wth litigotion that have been. or are expected to be received have been propedy accrued for in the financial Statements. LAWS AND REGULATIONS 15. We confirm Ihol we ore not owore ol ony irregvlorilies. including Iroud, involving monogemenl or employees ol the Chority-. nor ore we owore ol ony breoches or possible breoches ol slotule. regulotions. controcls. ogreemenls or the Chorify's Memorandvm ond Articles ol Associolion which might prejudice the Charity's going concern slolus or Ihol mighl result in Ihe Chorily sullering significonl penollies or other loss. We further conlirrn Ihal no allegotions ol svch ifTegularilies. including fraud. (y such breaches have come lo our notice. LOANS AND ARRANGEMENTS wifH DIRECTORS 16. We confirm that the Chority hos not had nor entered into at any lime dvring the yeor. ony orrongemenl, Ironsoclion or ogreemenl lo provide credit facilities (including loons, quosi-loons or credit locililies) for directors nor lo gvoronlee or provide security lor such matters other than those di￿10$ed in the finonciol stotements. TRANSACTIONS WITH OTHER RELATED PARIIES 17. We confirm Ihol we have disclosed lo you Ihe identity ol Ihe enlily's related parties and all reloled porty relationships ond Iran50clions relevonl lo Ihe Chorily that we ore owore of and thot oll related party Ironsoctions which ore required lo be disclosed in the linonciol slolemenls. have been di￿lOSed in the financial slalemenls. SUBSEQUENT EVENTS 18. We confirm thol there hove been no events since the yeor-end dote which necessilote revision ol the figures included in Ihe linonciol slolements or inclusion ol o note thereto. Should further malerial events occur. which may necessilate revision ol the figures included in the linonciol stotements or inclusion of a note thereto, we will odvise you occordingly. GOING CONCERN 19. We believe that the Charity'5 financial slatemenls should be prepared on a going concern basis on the grounds that CUfTenl and lulvre sources ol funding and or support will be more Ihon odequole lor the Chorily's needs. We hove considered o period ol twelve months from the dote of opprovol of the linonciol slolemenls. Registered of1￿e= 21 Portlond Ploce. London. Englond. WIB IPY Registered in Engbnd & Woles no. 07612518 Regtslered charity no. 1 143018 Lifebox Foundation 21 Portlond ploce, London. Englond, Wl8 IPY RESTRICTED INCOME AND EXPENDITURE 20. We conlimi Ihol oll gronts. donolions ond other income. Ihe receipt of which is svbjecl to specific terms or conditions, hove been notified to yov ond propedy recorded in the linoncial stotemenls os restricted funds. We Ivrther confim Ihol there have been no breaches ol lerms or conditions in this op ￿lcOtiOn ol income. 21. We confirm that expendilLve from restricted funds during the year is as shown in the linoncial slalemenls. We lurther confirm Ihal there hove been no breoches ol tems cy conditions in this application of expenditure. We confirm lo the best ol our knowledge ond belief Ihol the obove represenlations ore mode on the bosis ol enquiries ol management and staff with relevant knowledge ond experience and. where oppropriale. of inspection of supporting documenlation 5vllicient to sotisty ourselves Ihol we con properfy moke each of the obove represenlolions lo you. We acknowledge ovr legol responsibilities regording disclosure ol infonnolion to you os oudilors ond confirm Ihol, so lor os we ore owore. Ihere is no relevonl oudil information needed by you in connection with oreporing your oudil report ol which you ore unawore. Each direclor hos taken all the sleps Ihal helshe ought to hove token os o director in order to moke himselllhersell owore ol ony relevont oudit inlomotion ond lo esloblish Ihot you ore owore ol Ihal inlormolion. Yours loilhfully Trow6L(6 Weiie Signed on beholf ol the Boord ol Trustees Lllebox Foundatlon Registered of1￿e= 21 Portlond Ploce. London. Englond. WIB IPY Registered in Engbnd & Woles no. 07612518 Regtstered charity no. 1 143018