**FINANCIAL ACCOUNTS FOR YEAR ENDED 31ST MAY 2025** **Company Registration Number 07646091 Charity Number 1146134** **Chartered Accountants & Registered Auditors 15 Olympic Court Boardmans Way Whitehills Business Park Blackpool FY4 5GU** Global Clubfoot Initialive Contents ReferenL% AthJMm"strauve Deoi]s Trusiees, Report 2tts 11 stsieTDOt DfTrusTees' Rr4TKwibililies 12 Iwdtnt Exatnir*V5 RqM)rt 13 Stalemcrt ofFi1Ja￿iaI Activities 14 Batancc Sheet Is Notes to the Fi￿￿￿181 Staits)xrts 161024 Global Clubfoot Initiative RefereD¢e and Admitilstrative Detsils Tro8tf¢S Mr C LaTry Mr A Ngoka M5 DM W8tg M5EMCa MrJCE Bisbop Mr D Jones IRestgtttd l? (klol*r 90251 MTS N Ward (A￿1￿1>1 12 (ktol*r 2025) MrsRMO Secrel*ry Ch*Ylti' ReglstradoD 1146134 C•Rw4Dy ReghtrAilon L¥umb 0764fA191 R¢8istertd Oir￿e 4tb Fjwr. Si]vetstreym House 45 Frttsoy Stw LoJthL WIT6EB l#dtpe•deDI £xaJMiner D¢lM>Ah Walsb BA FCA For aDJ on bebalf OrH￿ stwjto 15 Olyttwic Cix]rt B<￿dM￿ Way. whitehi115 Park FY4 5fjU Pa8t I Glohl Cl¥bfoDt Initia¢fv¢ Trustees, Report Th¢ tr￿slee5 pres¢TrE the amu•l report tO8eil*r with ￿ finaT*i81 È>f the chwithbk for th¢ yraT ¢ThJ¢d 31 May 2025. Diretton amd Tr¥s¢ee The directo￿ of conwy {the t1￿11y) ¥re its th]stees for tr£ of charity law aThd thToughout this T￿￿ 8retollects"vJy fffetted w •s the IrLL%*tt M*Jth Achillcus z. Actton de 8olithrl￿ ethDts jtttittts de malfortrwtiotis du {ASEMP) ARCHEMED A%)citi¢iOn d¢ Padtes y amjgos d¢ j￿rg0]ILl coll diwcidad. de SaDDa80 Atstlan Solola IADISA) As￿)￿10Th d¢ Pro8rnnw Inte@￿t5 de Edw¥iOn Con*mitsria Astrid Iklleman (ASOPtECAD) Associaiion for SOCI￿ D￿"t10PD￿l AS￿l￿on M3utitartLefLDe la S8ntt d¢ La mere d dc ITnfaDt (AMSMEI AsyKiation Pour le DevelopptnKrn d¢ la RyéW"on & thi Biert Etr¢ en CL￿e IADRBE) A551*iarion Prernicr Pas Ifornvty PrnnierPasl Cameroon Baptist CoDvethioD Health Services CBM Cbristoffcl.Bliod¢nwssion Cbristiao 81]￿J Mi&sioD E.V. (for￿￿TlY CBM ltst¢rnatIo￿} C]ubfoot Care for Kellrd ICCK) Clubfool Itmiia Initi8lll'¢ Clubfooi IThAia UK Cure Tn¢rnatiorbal Diversity Acuon Ne￿ dociorSHARE FACORC-Liixri* Clllbf￿ Progrnm Ifomvly Faith Clithi¢al Ord￿￿1¢ RdthililAtion C¢nt¢T { FACORC} / Librtia Clubfoot Prowam l LCP I) Faitb Clinical Orthy¢4tic Rehabllitstion cell￿ i FACORCI / Lit*ria Clubfty)t Proyarn{ LCP ) Fwfirst Worldwide FUNDACION HERMANO MIGUEL Futhion N1[M￿ eoTr SrdtKxbueffa. ALEX.FUNDAL F￿¢79n Solidaridad Garnbia Clubfwt Found￿700 German Lepr05y *t¥J Tub¢rcultssi5 RtIi¢f Asg*iatiorL (DAHW) Health Attd tkvelopmEDI Support ProsAmnJe (HANDS I Hop¢ •Dd IlealiD8 Tnwnaiional Hope Walls Walks Ethiopia HO￿ Walks Ntg¢r HO￿ Walks ttwanda (fonrÉrly HopeWaJk5 R7*anda Clthfoot Prn8r￿) Hope Walks Z&mbia Limitcd HoSpIt￿ aT¥i Rehabiliiation for Disabled Ckn"lthen {FIRDC) Hurnanily aThl T￿h157{ I￿￿¢10 Ponseti Foulld&uon International Committee oftht Rcd CTOSS MercySkn"p5 Mjrxlefeet MPKU PP MUFIAMMADtYAH P4e2 Global Clubfoot Initiative Trustees, Report N¢xtSws Cambo(liJ IfoTnXrty Nex6t¢ps) Pawle¥ic Cenkr Pc5hawar Hjilippille NGO Counijl on Popuiaiioo Health W¢lf8r¢ Iw. P05ilive CaT¢ and D¢veloprbeni FouJ¥tatM>n Progran￿ des ITKapacites TraumaiisJJJes et Rethptkn"on {PITR) Pr(yazMne National de Readaptstion a Coll￿￿)1￿1[e IP.YRBQ Pusat Rebabilitasi YAKKUM Résrau Coor¢￿10]u￿1 Sam'taire (]r¢tiM 4kGuir*e (RECOSAC-GuiDéel SeMog¢dv FO￿allion STERRA LEONE NATTONAL cLUBF￿T PRI￿RAm {SLNCP) Sonmlt Red Crescent Socicty (forn￿lY S)rna]i Ponseti Clubfwi C¥E I￿￿1$￿1(￿) Skps Charity Ifomvly Stetss Worldwy(k} SIcp5 Charity NPC Ifonllerly STEPS South Afr￿3) Straight Child Fouthtion Tullu Afrika WALIhWINCPb {fornKrly Natiollal Clubr￿1 ofugattda set*r*to WALIMU) Walk for Life i Ullited Purpos¢ Worn￿ al￿ Cknldreo Heth EtEWWtrnxnt F(M]ttdation (WACHEFI WoAd Orthopa¢di¢ C(w*ern UK Zimbabw¢ Sustainable Clubfoot Pro￿*￿￿ Th¢ Trustees 8NJ thief Exetuiive Offiw Cthatity on a day4¢Hl&y b￿l& Th¢ Challty 15 an equal optKM1uniiies ¢ryloyer and & all tirrts BiV¢S full aThJ fai* ¢onsideralion ￿ applicattons for eKtspIO￿ll￿Dt by dis•bled pus0]4 bavjng re8￿ ts> ttr*ir r¢5PCL*ive apnuths and abÈliii¢s. *fvr¢ Global Clubfoot Initiative (GCII e￿ablE$he￿ in 2011 by thc tnjstees aryj bwaTt* • eorwy limited by guarantee (A>tsinitig Cknbk stsws in its risbt itDmediatdy. The ¢omp3ny 15 governa by its Tn acco¥dance with the Mthorandwn aThl A￿¢1¢5 of A￿KI*ll0n ￿ T￿￿¢$ hav¢ thc in aklitiotl io athy expr¢ssly coDftrr¢4J ￿ the tr￿*t5. l. cxp¢NI the fuDd8 of th¢ chllrity in thc wth)5t bertf*ial FAY ￿ **i¢ve objcdivcs and to inv&%t in the rA￿e of the [￿rIty such as they see fit S￿1 to di￿ct the s•ic or trzDsfer of illveAD￿ts ard the PTe¢eeds in furtberatKe of the oty'ec 2. enter into contrats on behalf of the Clwiry. The ttustres nmy any wJThDg to *( as is over the age of 18 yeaTS is not d$4ualtfied from *¢tMg under the provisions of Article 31 of d* aDJ knicles of As50C18tio￿ to third orth¢ trLL5tee5 are reqwred kn reli￿ aNI b¢ [tap￿)I￿1¢d by rotation at ts Onr￿￿1 gettral me¢tiD¥. GlobAI Clubfwt Inldative Trnstees, Report Objecttvei And *rfivi The objectsattd pri￿1￿l actiN1￿s of Ihe C . To projnote aDd prottrtthe phy5itsl health of. •tyl to TXEVfrt disability fvr. ￿ of ¢hthf￿ sttd ot physical disabÈlities in dcvtloping c(Hmtri . To Prts￿de ethKatiot4 PfadiC41 advice •rtsl tsaittiDg th kn•lth CaTE wofeSsio￿ Ixgatitsatio developing Col￿￿]eS an how to tte* ClUbf￿ othet phy51¢al disabilrties effe£tively. . To help cwrdin*te *1￿￿blICi￿ tk effirtts of thffcr¢rt oTBaniS￿ involv¢d in the treatyncnt of sufferers of clubfty)t Ln devdopi4T ￿￿trIeS in ordcrth&t tbtymight w(Kk togettr*r effe4iv¢ly ACHIEVEMEwf& PERFORMANCE APID PLANS FOR FUTURE PERIODS En 2024 . 2025, CCI continued ow work in athxw. cOlla1￿tIo￿ builthng •city and momentum for RuuFtte2030. These PEiorities w#e identified to be41 GCI deli¥v its Visititi aod Mission.. GCI'S VtSION.. "A world wrtlwmrt disability ￿￿5¢0 by clubf(NM.' GCI'S MISSION: 'To bvild gkthl for quality ¢lth*fool treatDMI atsj equit8bk provision throu8h advocxy. 42iw athj wU)bor8UOD.' Below. ￿t￿l our8tivities aTrl im￿1 in thtte majo w.. Advw. ColJaIxb￿ ¥ThJ TrniniDX. Adbot RwnFree2030 ts Glob•l Clubkni IniliAl1￿'s IGCD str￿¢£Y w ￿le up access to chthfixki trtatm¢ni worldwi& and llddr￿ the inju%tice of millioDS gTOWiDg up ￿111 PitrfuL Nimed f¢4. childrcD sFKx]Id be abk to play and run fiee. Our tri5ion ￿ of 'A *herE every ¢￿.1￿ with clubfth)t h¥£ to the fidl wa]{ pjay. Objectives: . AII LMICS within the iiuDFffe2030 stt5*8y TAI h*%e n•tiollzl ¢lubft*)t with Ly)0]pre1K￿iye clubfoot C4re available ￿ all bth"¢& Higwuality cljknfoot trulD*nl will bc providul act￿￿8￿ cvÈd¢llce-bas&l proto¢ol6. Inte ion. National prOBra0￿ arc intcMrni&J inio health sYsten￿ for lonB4erm ￿$￿]n￿bilIty RxDFree Accfknior." Dellthg &velOpJL¥￿tr tok l* sc*lE llp Aftu law￿h1￿8 the R￿Free2030 aT¥J Gqmpaigfft it) Junc 2024 fimhcr ¢kfined the Tol¢ thai GCI uld play in acctl¢rnting St￿¢ Np worldwide. With fi￿11￿8 fmm thc STrift Gfanl. Big Give. and Dthtrs w¢ cotht¢O ll deep atralysis of dats from our gk)bAI dats ¢olle¢u¢)n and 4)ur sttfn8ths unique sitioDiDg as a coftv¢rM)r of clubfoot OTwisatiolls ￿ defjne the bi88est chajlcw to tealtsirbg the vision of RuttFree2030 al￿ GCI'S role ID acceleTatitig pro Po8e 4 Glohl Clubfoot Initiattve Trustees. Report We desi￿￿d the Rth)Free Acc¢luJttbf WoEtaT￿. ￿ be lul and delTveEed by CLJ for oTh1 with out network of (A>+ rnetnber NG(& now WOTkin¥ in thc 70 CA)￿￿￿¢5 whcrc JTThE than 81114 of babtes CIthf￿( ate bDrn. The RFA focus on 3 tore arts5 of wo￿. capacity bJiidio& knowledge a￿A cYid¢ttc¢. ¢nteBrdlioll. I 2025, VR 5ubmittd art an)lK￿lOn for fi]DdTllE for the RFA FoundaU0￿ th apw¢)ved the fJTSt h4"0 yeats of fundiD8 Inj￿ 2025. R*iiiAe globAI *wame$4•f d•bfoot In 2024. we completed our llext routsj of Blokn] d&ts coll￿*0￿ vkn"¢h s]¥)wrd vtty pmisiog r¢5uIN ]nts countries r¢sw￿l￿g . over 70. T￿W b£by etsTots)Jents lDr¥¢￿ by >24Ikn th 40,(KX) gnnually 122% 8iob81 truttl￿g covetsgel. and irKrwiD8 DLkmb#% of LMIC rrncbiD8 yeater thw) 5¢f/• tr¢atsbeni cover4g¢. To in¢re&* ￿s1￿.[1ty of the Blobil burden and wo8[e￿ we WTOk up thc global dara restaTch a5 4 twblicaiion which &¢epitd ffjJwJ publishryl by BMJ.. Glthal Health. fundiThg for thB C￿ A¢cc55 Publi￿110n fee from a Swryfi grant awar￿ by tÈv¢r fwclwige. Global enTolmÈnti: dbildren tl¥btoot for Poltsttl 20•5- 2023. 24% iKrt*s¢ iti tttrolwDts 2021- Z023. 45.r 40. 30,(0) 25.fm ?i zoxth) io.coj 2￿17 2(¥YJ 2011 2013 2015 2017 2019 2021 2023 Year pYowd¢d aca5C Study clthts)t foT Commis5iom on Global Surgery 10 yrarupdatt. Awar¢ness raised &t th¢ hitsl levels of giLW healtb through Ga particiE*tton in two consultstions by the World Health Orwusatioo. W¢ aThi our nJeLkn adi"{￿ale￿ for pmiisioll of high qU￿lty FfK)i AbJwitOD Braces lan cotllpo￿ of Ponsdi trtatm¢lltl ill an trotiativc by the depaMKnt for As5Lstive Tc¢hTr)logy. GLI con¢ributtd txiens1￿ty EO Kuid&*e ￿[n$ by WHO on birth d¢re¢￿. how progrartbTnes for birth defects carbbc Implen￿ty1 in the iMIC ¢ontrxL Edv¢*tin# the fthire yo￿0T A nwjor b&ttier kn babies 3ccessmB beath￿tI chthfwt is lack of a￿￿ of the coTrJitK*n atld its. Itcatmcnt resulting in rni&*J opportuniti¢5 for ￿fe4[al and tr¢aD￿nI in infaw. In 2024 _ 25 drdlle4 fundittg support from MiAclefeeL EIti￿ ch8ngES will made ￿ these re￿ to *li8o the CQDteTht with thr Acr Global Clubfwt TRining rewisttms befitt they areTolleJ Imrt acrnss the GCI Detw Pa8e 5 Glob￿ Clubfth)t Initiative Trnstet5' Ryrt Big Glve In Decettkn 2024. we rnised £27.IMKIpArticipating in th¢ Big Giv4 a fiumlillg oppoJThnity for cknities lo ise ]Ni¢hcd donationk Tlxse fiLThts eD8bkd to SUPE￿ Ca￿lty blilding adivJtt¢¥ such &s tht ljxlia Train th¢ Trniner couJx. ZimbAbwr DPC tr81fti￿ a￿1 advo¢a¢y 3rd awvttoess rnising tbTou8b global da collection arhl an&fysts alld collmbuttn# 10 the World Health (hg*usatioAs' on bwth Parti¢ipatiTrg in the Big Give help¢d us to divetsify our fundtDg by ptswitlg our ￿￿]vid￿l yving. Coll*lMbr*tloD Our [Dern￿1P ¢ontÉTh￿d to grow. in 2025 ￿ had llK>re fAI Nfjos SWPOrriD8 treJt[￿nt ID 70 tml countries wh¢re mort thatt 81Wo of a]1 b￿1¢$ with clubkn woAdwide arc born. CKI Y_, RUNFREE ?0$0 4A: iraci¢fe•t GoverN*nr¢ ckxkges partLtuL%r, the pre5Cn¢t of T￿￿teeS based wtside the UK on Ix)ard. ￿ JauDcW a ¢OTwIwion with OUT members. We awointed an it￿ cotLsultani ¢0 kad the PTU¢tsS 8nd to thit wllbets. VL¢WS were taken lljto a¢coiu)t and thal membu repre5tstatiot) would not be whlltever 50Iuiion was fouThJ. She thai w¢ n>ve lo a NTrrier bDard 5tsUcW￿.' a Thller. leg•1 m* up of UK b•s¢d individuals *thJ that twni*r rep￿1￿11¥eS be¢om¢ c04)ptd b)•rd ro¥ting bianttually. ro advise o all matt¢r5 apart from those tIMt tthay t¢ s•￿itive. This rtw •toroved * rh¢ 2025 AGM by tk membus and exsstsng 1K)￿d. World Clllbfoot Day Wor]d Clubfixjt Day is teletntrl eA¢h year June 3￿. We Dwk£d the day by IM)IdiDg an event with Chcisea Football Cith F4xJrty4atiotL More th•0 150 ptients clLthf￿t Ind trir str*lin8s pgni¢ipatal. from all overthe UK. The clu"IdmJ W¢Te coa¢W in •g¢ m by thc FC ¢whes and pÈai%d m&tches. Y¢JuTJ8U Childre enjoyed & ftee play area aDd with 8rner￿ of wAfors CPro DIr￿t 4r4J Taiarny& we pmvided a free itt Cream for ¢veryoue * the c￿1 of the dèy. Tr day w&* 0￿￿lSed ID collab)r8tion ￿th ibe tlinical tcaTn ftOllJ the Pottswi clinic ai CtrKisca and Westhiinster H05Pit*l •Thl a nutdyer of physi(Ahewists attenthd: th¢y highlighted the iMpwk￿c of exercise in cbildrtti with clubfooL •nd we ￿ed tht op[￿u￿ty to SVPPOTts'ng fiittiing of aTh exercise Yid¢o 'Fil aThJ Fkxibk. for patients king Pr(KI￿ by the team at Cbelsea and westm￿$1￿. Families that all¢Thkd expTtsstyJ 8T¢at apprecialioth for the Op￿rtunity to take part Èn • sp>rtmK event 8t such a pJes¢igioiLS venue. atsj for the opr￿￿7ry to med shaT¢ experiti￿ with othets the %DrnB coTrJition: ofthe ¢kn"IdreD h*1 arth ¢hild eIthf￿A bdoT¢ P88¢ 6 Global Clllbfoo¢ Initiattve Tntstees, Report Picnw¢: Fit FkKibk ex￿1$¢ vidN filme41 thuin8 Wthd ChdJfi￿t Day ¢c]¢bAtiotts 2024. S4pportlz% clubfwt txpansion in the DemocTafft Rcpxblk of COD Tn 2024. awdrded 8 grant of £55.(KX) from Guthy OvcT5EaS Aid ￿ fund thc expansi¢)n of services for bfool itt the Lk[l￿alle Republi¢ of Collgo stt p1rtDe￿'P with local ￿[￿[e[￿￿tI￿g NGO Heal A(￿"￿ at their Us-based pattret, HO￿ A small p¢rcelltage oftht furds sup￿￿ GCI iD tNnagmg the 8rattt. and prfjduci￿g a tase study how. the printy>les of RynFrce2030 put illto 8ction in rb2 DRC whicb we *ill use for advocw •rd fiJtrJtaisJng. With this knJin& the iEam in DRC hav¢ u8to¢d clijjiciatss ID treatsneni 5kiJls. bealtb W￿rk￿S in tdcniifv&tioD atyj Tefurdl for clubfoo( eskbJisJJ&l thre DEW clinics t4'heTE more thatt 300 b8bisg with clubknt stsrtd PoThseti rr¢atsttrL We w¢ to have bc¢ll of effort attd hope io apply for fufflher SUPFth i* thc fimurc. Glob*l Clubfoot Initiative Trnstets, Report -we aieproud o1gettingbab￿S mto ¢re•tmenf. tWre¥￿P￿0Uderof￿eePi￿glbern ihere- - HealAliica stallmember ACT Global Cl¥bfout TrxlniN8 Vtvithm *nd The Africa Cknbfoot Tninin& or ACT. dcv¢loped in 2015.17 is our ptinmry cliDKal tr¥iniD8 r¢g)wce. Sin¢¢ initial roll i)W in 2017. rnpid glo￿] uptake eDswd. 8nd it 15 TK)w wed ID than 70 LX)ulltrieL ID 2024. we ¢linicians with the ainLS of haTTrb)nising vcrsiotis of the ts*initi& TrktDg Il n>)Te adaptabk io dpffemjt a￿11¢￿¢￿ renectiTrK exwit￿e con*n frorn aTtyJtMI the w￿r1d, aTh] Wiing thr ¢otti¢nt the 14trSt evideK¢. Intlial revisio￿ on ts newly named ACT Glob•l Clubfwt TrnAning werE coryI¢Le by rnid-2025. with th¢ llim lo rel¢as¢ the finished V¢TSi1￿ by tl* of the year. This work was g¢ll¢ro￿SlY sUPPth1ed by B(th Fi FO￿ard charity. Mira¢l¢fttt NGO. and th¢ Univu5ity of Oxf(¥ Gc1-d￿￿wertd Tr#iAiDV iti Hlgh Incory C•tsDtrks 2024. 2025 we rnn the followittg ACT Global Clubfty)i fw&th SW from expert volutht¢ers from JUD¢ 2024 . i￿cl I Pr￿￿￿*1¢$ awt P￿tt"¢¢0f PoDSdi. OSI￿Nor*IY Levtl 2 Advanced aubfoot MAD18rn￿. (hk). F4(Thay Novembef 2024 . l£vel I Priwipie5 aThJ Prndi¢¢of Ponsdi. ma￿beSter. UK. 32 [￿rtiCu*￿ts . Level 2 Adva￿ed CJubf(xA Mall*8¢￿1. UK. 28 Glob￿ Clubfth)t IRiti*tive Trnstees, Report MaTch 2025 • Level I Prin¢tpl¢s and Prnltte of Poftsdr. LOTh&)￿ UK. 30 prtici . Level 2 AdvaLced clUbf￿ MAnager£nt. LoTxloM. UK. 31 part*1p￿ts • Train the Tr&irJcr. LoThkn UK. 10 p*ts¢ We were ple&s•J to nore an irKte&se in ltwernatio￿ll1 particiwts on the courses. Tr trainkDg was a¢¢t¢dited by the Royal Collcgc of of Engl￿￿ aTvJ ￿￿tanL￿ ￿ rffel￿ ucelleDt fetyJba¢k witb parti¢ip•ni fcedback s¢ores for'overall ¥tsfactth' *vewiDg QVCT4.715 5)rall course TrAiM the Tr8i*r itt l*dla IT¥Jia is the coulltry with the greak5t of knbics bom with clubfwt a￿￿lly. bet*ten 3040.0(M). Curt India IntemaiLona] Tn]st NGO supports the t[eathJ￿1 of over 12.IMX) bAbics with ¢lvbfoot cach ye4r through traitting ¢liD]Cia￿S. providing pAtEnl advtsc and gJpwL I￿j SUFfj>tykng F￿1 Alxludion Br•¢¢s wthich e55entia] to the trratsneni prim& In lite 2024. CIIT 8Mxoa¢hed with • T¢qUtst lo path¢r wtth them dcliver (kir fusi ever ACT Glob•J Clubfoot TEaLlhLn8 Train the Tr8inerw]The &s itKre•5¢d capEcity for ¢liDical tALIIiti8 urgently tteed¢d. With ¢trfiuJthg from the RAG4Clubfoot. a of Rotary InttrTrational, 8thd th¢ Big Give. w¢ Provided te¢bnI¢￿ su[1￿ for Ihe trainin& ard &%sembl¢d a tsaitimg tr•m Ivlko delivcr¢d our bigge￿ ever rrT over the w]r5e of 8 *%ek in MaTcb.' over 30 aTKI ￿ c1micia￿ wcrt trained Mryth mo th•n IW patieE)ts attcnding for t￿l￿g part of the tr8ining. TThs 8r¢ ODE of the effe¢tivt wa)s of supr￿)rting sustainability alld higwquality rre•tr￿ ard e4¢h of the tiainets trainul Thoy go ors to deliver training to bu￿￿ n￿re clinicjans ttrougFrf>ut tkir¢areers. PthTC'. Patien15 dii¢nding Traits the TraiDu ¢owse iti ]rrfJi• ID ma￿12025. Page 9 Global Clubfwt Initiative Trn￿ees, Report Tr DeLayed Pr￿￿]11n8 Clubfoot IDPCI Tnining Pro￿ was an 18 Month prn8r￿ building ¢apa¢iry acT055 network for treatthttti of w8lkiDg age ¢lJildren IiviDg with uDtttatrd clubf(M>t. (kn final tr&¥ning held in Ta[￿11 ￿ September 2024. Jn partottship with MaDagenxni aThl IkvelopEttnt for Health (MDH) and Miraclefeel fimded by foulldati￿. In all. over the cours¢ of ik projed iti July 2023- Ikcetttbtt 2025, VK: . Delivered ts*iJJmg to 75 clitticiatts from 14 coulltries in trcatmEnt of dtl8)rd wesents'ng clubfo)t ID Ethiopia 8Th4 TaDLinia skills {+22%1 . 11 Irai]*d *9 DPC trairKrs • Traintts weTEt on to tr¢•t an avernRe of14 chlt dreD each wRthin • )rar. a totsl of &$3 ¢M'IthEn. . Etthled r¢habilikntion F¥ogr•Tr￿ in I I ctyJrttri¢s by providiti8 12 miniwants of £5￿ ¢0 to support itiiti*ion of rehabilitation prowJnK5 prrided aspllrtof DPC ¢rtathKnt -,11 Through the DPC trainillg PT0gratty￿ ATe re$¢thi￿ D))biliry. OTWWllity atMI bope foT ¢hildrerL who cou]d not a¢¢ess tr¢alment at birt￿ W¢ PJZD to ¢otitinu¢ this traiDm8 Progra￿￿ *TvJ w r¢xh ayth"etwes by tr&tt8]￿Ing tbe rnatwi￿. P4e io Global Clubfoot Inittative Trustees, Report P¥bll¢beKefi* The IT￿Stee5 corsfirm I1￿1 thcy havt C4)rr*>lied with the re4uiTE￿￿￿S of sKtion 4 of CknriiKs Acl 2011 to have dut r¢gard to the publtc E*nefit guid*ttce pubjisbed by tk Chawity Co￿lS51￿D for EEJ¥]aod and Wale5. FIDaD¢ial rEvlew The T¢5ults foT the )rar ¢Thl the chuity's I￿1(10￿ at ts c4wJ of th¢ year arc 51¥>wn in thc Jttshed f￿￿￿181 styiejnents. PoilLJY reserv¢s level of 75 . IW/o of anDual to ethle the CknTiiy io ￿eXp￿t¢d expeDse4 itLCO fluctyatiOF>S, ordelay5 in fiJtyltn& and owcollrritt)xni w Tcsponsiblc f￿a￿lI) MI￿g￿mI. (hw res¢rves are Critic￿ w safeguathg operntiOTLS al￿ fi￿rilling our obli8thon5 towards our b￿￿fi¢i8r1¢4 staff. aT¥J stakehojdcrs. By Malntsinin￿ appropriate rrsthvr& can eff¢aively mana¥¢ out optrattons and 0￿1￿u¢ ourcharitfjblc activilies IoDg ternL The allnual report wxs atvrow¢d by the of the tharty on . .......... bebalf by. Mr5 RM OK*'ell Pag¢ll GlobAI Ciubfoot Initiative St*tement olTrusttts' Responsibilitie5 Tr mL4ees Iwfv) aye also the directOTS uf Glohl Club(￿ Initiarive for the of law) gr¢ rc5PDnsibk for preparin¥ the In&tt5' fETM)rt and the fitbancial sr*m¢nrs in acCord8[￿e wih applicable and UDited Kill8dom Siatthrds (United KiDgth)m A¢¢eptyJ Accountittg Proclice). ill¢1￿51￿8 FRS 102"Th¢ Fi[w￿]It Repfrrt￿g Stsndatd applicabk inthe UKarrtl Republic of Ireland" the tLlJ5ttxs ￿1￿1 noi approve Eh¢ fiJ*ncial $tat¢Trrts they r 5aiisfied that give a tsijc ard ftiir view of the 5Tatc of affairs of the eharithble CO[nr￿ and of the atvj appli¢ation of illcluding its ￿L0[￿e attd c￿￿"t￿le. ol thc Charityble cowy for th&t rrtriod Itl WEP*iti8 tr￿¢ fu￿￿11[ siat¢Tncn￿. the Injstets w¢ r¢qwredto: selec¢ witable accolmill￿ wbhties ar•J aFylythtth eulsi#￿￿, JTJak¢ iudg¢nxnts aDd estimwtrs that ale Atas0￿b￿ aDd prnderLL skate wheth¢T applicable acco￿￿ Stattdard4 wryisiti8 FRS 102 halt followrd. sthJ"eL# IQ joy matena] d¢partwes di5clos¢d aThl expl•iDcd in the financwl 5tstrT[￿nts. aThJ charÈthbl¢ ro]rwy will iti The tr(￿tt$ aTE TCSP)thsibl¢ for k¢epin8 PTop¢rxt4Mmllng rev)rts thai eaD disc1(￿ rcay)npbl¢ *cwacy at 4ny till￿ the fina￿la] PDSitKTrn of thc cknitable company aF￿ enknle to Zll5Urt that th2 finaKiaJ 51A*ll￿nts otwTrly with the Cotwattt¢5 Ad 21M)6. They are akn res[￿￿1 k foi saft8uardiDg thc a&%cts of thE cbaritsble corDPARy herKe for tak￿ reawoble stq)5 for the prevcmiou ats1 d¢i&xtion of fraud ood ithr iEregularitie& The tn￿te¢S are resFvwble for wo[DIfA￿llce and ithegyty of the COTrrt)Ate and fiDaticial it)forn)&tio Inchthi on the c&￿1#ble COTrwy$ websitt. Itgkslarion govfnuns the JKepNion and d1sscrni￿tiOll of rlTwK￿I slaiejnents nyay differ from ￿￿"slati￿ in othts jwisdidi( Approved by the ttusie¢s of tht charity on..... rs RM Ow¢n CompaRy Secrfary Pag¢ 12 Clobal Clubfoot lttltiative Indeptndettt Examiner'$ Report to the trnstees of Glob￿ Clubfoot lllitlotlve {'the Company,) I rep)rt to the my exwrinknon of the a¢court5 ofd* Conw for th year ended 31 May 2025. Rtybonsibilitie¥ basil of report As the ch8rity's of the Cowy land al￿ its diredoT3 for Ik PUTP05¢S of ¢onw Ism.) you are respoD51bk for the Preparation of the att(yJnts in actordatte with the requirements of the Companics Act 2006 {'th2 2(M)6 Aclj. H•viD8 satisfid my3elf that the accoum5 of the Coxtwty we Mt requttd M> be I￿11￿J under P&rt 16 of the 2006 Ati and are elipble for mtkFthleALt e%2mIDa¥io￿ i NM)rt in Ttspect of my txamiThatiiJn of ¢l￿tty'S ￿￿O￿nts as ¢allitd out utthr settion 145 of the Charities Acr 2011 I'the 2011 Act'l. ottt my examintiion I bave followe4J the lh'Tctt￿ts givtll by tr£ ujyjer section 145(5Xbl of the 2011 ACL Ib41ependeNt ¢ulllltitr's st*tew¢nt Siwe the Conwy5 Br￿ ¢xcee&d £250.IKK) )w examitier be a n*mbcr of a kndy Jisted in ion 145 of the 2011 ACL I confm that l am qualifi¢d ￿ Ur41¢￿ tt* examiD8iw bec%￿ I a TtKmbEr oflCAEW. which 1$ ofteof the listed bodie examinatl¢Nb bdieyw. l. ￿OUnting kept in resp￿ of ChAJf(%pl IDiiiwive &5 Twirtd by s￿l0n 386 of r 3. the accounts do ￿ corrpty with the aLcounong rquitemens of s￿￿0￿ 396 of the 2(K16 Acl oth¢r tha 4ny r4llirtJnent trAr the i¢toullts giv¢ J'true and fajr VIC￿ which is th)t • matter c0ty51d¢r¢d as psrt of a >ndeFndcnt ex2minatsoh', or 4. the xcow¢ts have not beta wcpord in x¢01￿¢ with the a￿1 priocipks of the State￿t or R¢¢omrnetxlal Prathicc for accounting re￿￿1￿￿ by ¢harilivc wwJd5. The fi￿d9 br¢¢kdown f￿ 2024 is ITh 16. pages 16 ty 24 an intrgrnl pth ofd￿Se finwial A#lem￿. Page 14 Global Clubfoot Initiative (RegistrAtlon number: 07646091) Balauce Sh¢eÉ as at 31 May 2025 2024 Note ￿￿ed assets Tangible as5et$ 438 92 CurTellt aS5¢ts Dtbttsrs CLth at btttk ar¥J IJ IWMI 12 13 9.240 246,9( 33.422 184.45 256.144 217.874 14 (30.945) 142.168 Net ¢4rreiit 175.7(AS Net #ssets 725.637 175.798 Fu#d¥ ofth¢eh*rity': Restricted intomt fury15 Restsict¢d fiwds 16 2.186 24260 UMrestrict¢d Income f￿ndS UDtcstri¢¢¢d 223.451 151538 Tot•1 f•Bth 16 225,637 175.798 For ts finats¢ia] YUT ending 31 .M•y 2025 the chan.ty was e￿l￿d kn exernptioti frotD audit uttdtr s¢dioD 477 or the CoryaDieS Ati 2(h)6 r¢LatiD8 kn small ¢ompanies. Dir￿￿￿. rtsponsibijitses." Th¢ meth hav¢ not reqvittd thc cbarity to ol*JiD an atylil of its for thE Itar iti qu¢stK>n iti arcordanc¢ with sCCtioD 476: and The directors acknowJed8e the￿ r¢5potisibth"tie5 for cottylying the requir¢[￿ of the Act wiib rcspert to accoumirtE record5 •T¥i the PTepaTaiion of x¢oun Thc fLn3￿]Ll statements OU pay 14 to 24 •Yre apptove41 by th¢ tr• for iwe on Th¢ t￿08 16 10 24 foTm #n inlegrnl prtof th¢se rintilKi￿ wtement& Page 15 Global CIHbfoot Initialive Notes to the FiDattcial Statements for the Ye*r Ended 31 May 2025 J Charlty st*ts5 The charity 15 Iimi¢d by BuaThr*e. EDglwMI aEMI Walth aNI cowuendy thx5 nat have capitsl. E8th of the trusoes i$ liable 10 contribute an cx¢¢althg £NiJ iowards the assets of th¢ ¢]￿llY in the evBnl of IiquwJ*ion. 2 Acco￿￿￿8 polk1¢5 The pri￿*paI accounting ￿)lIcinaiions ar¢ rv£ognised VAW tt* charity Iw be￿ rmrtified in writin8 of b)th the alM￿t arKI sellkn￿ da Its the event tbai a dO￿U0￿ is >jbjts￿ tt) coDdititiJLS that rquite a kv¢l of by thc ¢han"ty befo￿ the charity is ¢ntit]&l kn the fiuLd& the incomc is defthed 8nd n(x wised until either those ¢OTdiiions ar¢ fiLIIy mel, or thc fulfilT￿t of th￿t condiLions is wholty wthin the cwwol charity ¥nd it is ryobable ikne cottdiri0ft5 will be fiJLfilltd ha the WrnD8P¢Ti4XI. GMwtspwiv•ble ho￿ b¢¢n TneL Where CO[￿7tiOnS alla¢h￿ ￿ the grant and art yet to b¢ Trtl the irKort is r¢cogt)ised as a liability and l¢KI￿le41 on tht bala￿ defcrr¢d irKome to b¢ releas￿1. Pagc 16 Global Clubfoot Initialive Notes to the Fitiaocial Statements for the Yar Ended 31 MAY 2025 Exptnditsre Atl expermliture is T￿ls￿ once theTe ￿ a legal or Co￿￿￿1]ve obligatiDll to thar expeThliwte. Li $5 Probable settle]]￿Trt is required and the anb)Lml w bc ￿easUre￿ reli7AJty. All ¢05ts are to th2 applicèble expertdJ"Iwc b¢adm8 that aggregate si]lliJar costs to that catey)ry. Wber¢ costs ¢*LllO¢ Ix directly attrhbutrd to partlcular heading3 ihey hNve been allo¢Nted on A b￿15 ¢W6iStyi with the use of with cenual staff Costs allD¢aicd on the basis of riff¢ spenL 8￿j dq)rtciatbon Cha￿¢5 •llo¢ated on the prmtion of the as8a'5 use. trading aaivitieg that raise fund4. Charithble corrw>s¢s thogc costs by the chan.ry in the de]iv¢ry ofits activities suvicts for it5 beneficiane* Li includes costs that t4tt ditE¢tly to sucb aCti￿tieS aDd those ¢osts of an Provisions foT gtants ore fflade whth) th¢ intenlion tv nwke a gTant has been COMrr￿n1￿￿ to th2 Tetipteni but there 15 IIMYnaity alx>ut either& of tk grnnÉ 01 & anJ)uni of grani pajobl Support cost5 Suppffi costs 1￿C￿de centr81 fwL*rons aTrJ Iwve been all￿at￿ to activity cost ￿te￿It8 OD a bLSiS colK%isi¢nt with the ust of rwurcffj for exwle. aJl(Kaiiti8 proFrty by flwr Rrca% or per stsff costs by the T￿110￿ The charity is coDsideted to the iests set out iti Parowh I Scheduk 6 of thv FinarKc Act 2010 atNJ theT¢for¢ it ttxets th¢ d¢ffiu]t￿ft of a chaTitsble COTWY foT UK c¢xwdtM)n tax pwp)s¢& Accordingly. the charLty iy p)tentially tAeff4>t frDllE tsx*non in w of ir&ollr or capil￿ gains Rceived *ithill ca*egori¢s cov¢Y¢d by Cba￿T 3 Pall I l of the col￿TatiLYA T8x A¢t 2010 or Scthon 256 of th¢ Taxation of Chargeable GaiLs Aci 1992. tt> the extent thit S￿ in¢oTh* ortaitL8 are aw]Kd exclusively to ¢haTitsble Tanglble fixed assets Irtlividual fixcd a5xts ¢oying £5￿.￿ or ate iniiialty T￿orded ai less athy &ithcquent acCum￿a￿l Depre£i*tlo• *rnortls*tio tkpTeciaiii)n 15 pmvidcd on l•nwbk rued osw5 write off the cost or vahwtion. less t￿lm#¢d r¢siduBI Ydbjt. over thetr exptctrd wfvl ccotMJttknt lifr Is fvllows: As$¢t cl* Deprrti*tkni tyetkod ratt J3% bat8rK Cuh #nd ¢asb equiV￿￿ts CastrL and ￿sb equii"aleDts ¢ash on hand and call depsits. I￿j ott￿r sknt-trrni biEhiy liquNI iDv¢slllJeDl$ that are readity convcttthk to a kttown of <8sh ate subittt irsi8o1fic￿I risk of ChEn￿e in vah Page 17 Globa] Clubfoot IHitiatlv¢ otes to the Statements for the Ye*r Ended 31 May 2025 TrAde ¢r£dltors Tra& ¢redifOTS are obkngatiotss lo pay for giKyJ3 or servic¢5 have been 8CqUUtd ID the orduJ8ry cou]se o business frotD suppliers. pay•ble are c￿lfied as liabi]ities rf the cJJaTily does not bai"e an un¢ollditionaJ ri8h( aL the ekd of tk Tvrting petirf ￿ defer s¢ttiemi of thc LTryJitoi for at least twelve onth$ after the [t￿lin¥ da*. If thtse is an llw)t¥Jittonal ri8hi ￿ defv s¢ttleJnent foT & Ic4M nvtrlye El￿nthS afier Ihe tep)rtinS da*, they avt pts¢nled 45 li￿1]1[1¢ Tiade creditors ￿ [￿snI5td iniii•lty at ts trar￿¢t￿)n FYic¢ wjd subwily rr￿￿￿ at aDvlised cost the objectives of the clwity. Restricted tne0n￿ fijnds arc tknse danatrd for w in a aT¢&QT for $￿ifiC the of which is ￿￿tF¥￿ted to that aT¢a or pwpw. Financial ￿ets aThi fiT￿ntial liabililics we the ckny c4>rthxwal provisions of Ik &Dswm¢nE. FtDaDcial liabilirie5 and equity are classified a¢cotdm8 ￿ the 5ubthLce of the coutrnthal aThangeD)ents entertyj into. AD equity itisInll￿ is ally conlA¢t aresid￿ itstst xll the assets of th¢ charity at￿ deducting 8ll ofits t1•b￿lties. All finaTKthI S￿[5 and lixbiiilies att iDiuaJty P*a¥JTed price (inctudiDg trI[￿a¢¢I0￿ WSLSI, except for those finarKial HssBts classifi￿ fait Val￿ through PTofit ￿ loss wbich ate iniuajly ￿KIS￿r￿j at hir alw (which is ￿rm￿lY tbE tratksaction pritt exdLKIi￿B InOsa￿ costs). u￿¢&$ tbe a[rwI￿ coristitute8 a liabilty 18 Me￿j￿1 al th¢ preselll I"•1￿ of the futute p8ynYnts di5COtthttrJ at a swkct T* of ll)terESt for 8 Financial assets and liabilitiB5 are only off5rt in th¢ sla1¢n￿rt of finajxial F￿lliOn wlw and only wthen there a legBJly enforce￿1¢ riglrt to off th¢ atsX￿rs atMI thc clJaTity iN¢nds eithtt to 5¢ts1¢ QD a nct ba51& or ￿ r¢alise the aThJ s¢*k the liability FiDallcial assets are derecogmsed otsiy 4FheD a) th contrxwal ri8bts to casb flovJ¥ fir>m the fLtwKi&l a55et expire or Settle￿ b) tr ¢lwiry tratt%fen ￿ 4nothEr party subslaDtially ail ofthe risks rewards of own¢rship of ¢ke fInaKI￿ wel or cl the cFATity, despite baviDg retaÈwJ soThr, Dot ail. gnificam ri¥ks Tewards of 0￿￿tship, has tyansfLTred eontyol of the assei to anoth￿PartY. Financial liabilitits onty th¢ obli￿￿ spc¢ificd in tht contraci 15 iJi5clwge& canc¢lknt ur expirBs. Pa8¢ 18 Global Clwbfoot Initiative Notes to the FiD*ncial Statements foT the Year Endwl 31 MAY 2025 3 1Acome dollAtitins *od leE*Ci¢J fuDds (kJ)er*l Total 2024 fH•ds 2•25 DDDatiots atsd l¢wies'. tknnations from Lndii'ld GraThw Incl￿11￿8 C4Ptral gran 35.078 35,078 10,672 ?1.662 220,935 256.013 212.137 56.740 199273 4 Inthmt from eh*rltsblt #d¥v115e5 h￿dI Ce•eT•I Totsl 2025 TDtsI 2024 ProoK*tiOD of physica] health of wffercr5 ofchjbfwt 107.159 107 159 J45.711 Total 2024 2023 Spon50T5hip illcome 522(K 40.495 522(K> 522(N) 40.495 6 IDV¢Stwt Totsj 2•25 Totsl 2024 G￿traI Tnterc5t Tec¢ivabl¢ 8imilar IDt¢r¢st wivable on baDk dep)sits 5.696 5,696 Page 19 Global CIMbfoot Initiative Notsj to the FkknxnexAI Statetnents for the ye￿ Ended 31 May 2025 7 Expelldtth￿ ott ckxritthie aclivilJE$ UoTe51ri¢t¢d fvnd5 Crtneral Totsl 20ts Total 2024 fll*ds N•*e Pro￿tIon of physical heAIth of sufferers of clubfoot Grant of adiviues AllocatEd support 129.595 104.953 234.548 254.831 78248 59.774 37,501 20.734 58235 39J14 167.(196 203.935 371,031 353.919 Global Clubfoot IDiti•tive Notes to the FiDin¢tsl Ststements for the YeAr EDded 31 M*y 2025 AaAI)sls Of $Npprt co Ck*rlt•bk ¥ttivitks eJpeDthwre Tot•1 2fjZS Totsl 2024 General Travel ar&om￿tion Office expensc5 Bank char8es ￿ for¢ign ¢xclAThBe ¥ains and 10s5CS I)epTecialion Professoml fees 2.988 13.028 20.445 ?3.433 21.836 11.943 1576 216 14.833 85 1.661 216 14.833 268 45 1.142 4,860 4,080 37.501 20.734 58.235 Y Trustees ￿My￿ra￿L￿ #Ad ¢ip¢#ses year. DLtting the y￿, 3 Trus*es reccii'ed the ￿EMbur5e￿￿ of trev¢l expe1￿ roialliD8 £2.857. contiectiou *ith YoluDteeTiDg at the ¢hw's ttaiomg eveDts the Jwr. i￿1￿￿b8 events ID Nonvay And Ethiopia. l(1 Taxatb Pag¢ 21 Globll Cl•bf•)Trt Inttlalive Nots8 to the Financial Statements for the Year Ended 31 May 2025 11 T*yJbk ffted Tot Ai l jw￿ 2024 AthliiKins 680 562 680 S62 Ai lj May 2025 1242 1242 DeprtdatS0 At l Jutte 2(P4 awr82 foi the year 588 216 588 216 AL 31 May 2025 el bmk value t 31 May 2025 438 438 At 31 May 2024 92 92 12 Debtors 2•25 2024 Tr¥(k dEb￿S 1210 7,030 31.354 13 Cash 8nd r4sb equyvaieats 2•25 2024 C8sb atbank 246.904 184.452 14 Crediton: amomllts fal￿ d#t wilhi• ye*r 2•25 2024 Tra& ertrjiiors 49 6.234 1.262 30.012 Other ¢ytyJitor5 29244 30,945 42.168 Page 22 Global Clobfoot Initiatlve Notes to the Fluocial Sl*temeDts for Ibe Year Ended 31 May 2025 15 Pellslon *ttd other ¥chtn Dtllffted tDDtrlbutiOn peBsion sc&Etht Thc chariry ￿Ta*S a defincd C¥)nt[Jb￿IoTr ￿nsIon scl*nK. The rKtsion eosl ¢lurge for ￿ yEwr trprE*n ¢ontribuiions payablc by the tjwiry to the scheme and arno￿ted ￿ £1.596 {2024- £8521. 16 FuJM]s B•knTrr¢ at I l•to￿¥￿# Rtgwrr JllDt 2024 re*bllrtts ¢xpehded Tr4nsfers 2rfJ25 UBrcstrl¢ted fund GeReMI General UDFestricted fund5 151J38 221.795 (167294) 17.412 223.451 ReAtrktrd tklaycd Presentin8 Chbbfo 24.2 97.742 (](￿336) (15.664) Africa ChLbfooi TTainiDg Revision & Pre Service Tnujing RuDFre¢2030: Del￿¢1*[1¢ Republic of C4)tsgo RunFree2030.. Jjmlia 37J88 133J421 (4.046) 49.499 14.644 147J13) 1)6,¢A21 2.186 TDtsI resttl￿ 243&) 199.273 1203.9351 2.186 Tolai 225.637 B&lAD¢e ¥t 31 Miy 2024 B*l&thre at I l#ew¥Dg Reswr 2023 Tr*msftt UArestridd fundi Gev¢rnl 119295 214.938 (]98,￿)} 15.995 1S).538 Delayed Prescnting C￿brO01 195.484 155,2291 {15995 24.260 T•t*l 119295 410.422 (353.9191 175,798 Global C]•bfoot Initiative Notes to the Financial Stxtemellts for the Year Ended 31 May 2025 The SFwfi¢ pw for whith the fimds aT¢to b¢a￿￿'t1 ar¢ as folio Delayed Pr￿n(ing Clubfoot FuThl A restricted ￿artI was r¢reii'ed from an doJb)r. CWTenr ar¥1 F1Th1O￿ Jrar5. to Ix]ild tapaciry for eff￿lve of del￿1 presenttng Afri¢a Cl¥bfoot Tra]DLng Revisioo & PtE Setvi¢e Tr•ukin8 Fundiog rtceived frou) Miraclefeet •rd MaDche#tt Uniirw NHS Tfttyt w ¢Dabk the of the Afrxa Clubfoot Trainmg {ACT) pacw wh*h itt 8 rttvioms y¢4t. with Pre Servic¢ Traitiing ￿sT> in 202£ R￿Ftee203o. Rep￿1￿ ofcongo Fwid?n¥ wa5 rc£eivtd fwrn GueTrbyry OYer5Ca5 Ami & Development Commi$5ion to Cl￿b]e the vling s¢￿1¢¢ d¢livery of trWmDB the RwJFr¢e2030 proit¢t dithfiNA th"sability iu the Rcpubb"¢ of the C¢Mgo. RunFree2030.. Jndia Fun(lillg was r￿e1Ve￿ f¥om RAG4Clubfoot to furwj Act TTaill the TrnÈner cow in basK *tsl advanc¢d liniC￿ clubfoot traininp ij) IrwJi•. tD ¢tsl1atx)rni¢￿ C￿e Intern¥1¢￿[ India Tntst 17 Analysls bttsvrt* hLDth Unrtstslrted Tot￿ fulldj *t R¢￿ed f•nds 2025 Tall￿￿1¢ fqcd assets Current assets CuTh¢nl liabilities 438 253.958 130.945) 438 2YJ.144 130,945 2.186 Total net aM5 223,451 2.186 225,637 PaBe 24