Charlty registration number 1166021 (England and Wales) MATERNAL AID ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 MATERNAL AID ASSOCIATION LEGAL AND AOMINISTRATWE INFORMATION Trustea8 Dr A J8lglrd8r Dr U Hsroon Charlty number 1166021 Prlnclpal addre68 23 Arigelbury House Talbot Road Wessex Gardens London W2 SLE Indap•nd8nt axamlnor Tony Boala Xeinadln SL L5m1t￿j Ch8rteied Accountants Level 5A, Ma￿e House 149 Tottenham Court Road London W1T7NF MATERNAL AID ASSOCIATION CONTENTS Pagg Tnjstees, report Independent examinerfs report Statsment of financial aclivib'es Balanc8 sh881 Notes lo the financial slalem8nts 6-lQ MATERNAL AID ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present Ihelr annual report and finan&al Statements for th8 year ended 30 September 2024. The financial statements have been prepared in accordance with the accountin9 poliries sel out in note 1 to th8 flnano)81 ststements and comply wilh the charity'5 govemlng document, the Charities Act 2011. FRS 102 'Th8 Financ4al RgPOrtiNg Stsndard applicable in the UK and RepU￿1C ol Ireland. and Ihe Charitios SORP "Accounling 8lld Reportlng by Charities.. Statement of Recommended Pracd¢¢ applicable to ¢h8rilies preparing their accounts in accordance with th¢ Flnanclol Raportlng Slan(Sard appllcable in the UK and Republlc of Ireland IFRS 1021" Objectives and actlvlties The Charity's objectives are carried oul for the public benefit. The trustees confirm that they have paid due regard to the publlc benefit guldance publlshed by tha Charity Commission. The Charity refers to the publbo benefit gui(Jance when rèviewing Ènd 56tting its aims and objectives and in future planning. Maternal Aid Assoaation IMAAI has d8V158d a primary healthcare model to revolutionise maternal healthcare in rural Bangladesh, known as the Hub-spokes IHSI model. The HS model has been designed to edL¢cate a populallon, speclallse the workforce and connect njral commLJnllies to 8 healthcare sysltsrn. The maln alms are to bring together a fragmented health system,. access th6 remote and resource-poor populations. and add practical Snnckvalion and essentl&l t8rgeted resourcès lo the field. To achieve this, MAA aims to reduce the de18ys pregnant women oxperlence in al dec4ding to seek care, bl reachlng care and cl ra¢glvlng adequate hoallhcare, as hlghlighled in the Three-delay model. Through targeting thesè arèas, MAA 8ims lo improve maternal health outcomes and ulumately allow the HS lo s&N& 88 8 bluéprlnl for a model that can be replScated throughout tho developlng wortd. In slmllar rèsourcè-poor and ramole settings. Achlevements and performanco Our newly launched MAA dinic acts as the 'hub It Is an extemal ¢llnlc that ￿11 be ulili88d by MAA'S speclallsed d¢xtors who have completed an Inlenslve tralning programme, delivered by the Royal College of Obstetrtcs and Gynaecologlsts IRCOGI In 8gngladesh and recognlsed by the RCOG UK. The primary rolè of MAA doctors in the HS mod81 is lo identify, manage andlor refer high-rlsk pregnancy cases. They will prowde comprehenslve antenatal care IANCI at the GliniG on a lortnightly basis to hlgh-rtsk wom8n. By ￿n￿nUOUSlY monilorlng woman durSng pregnancy, the doctors ara ablè to Sdenllfy th08e who ne8d lo be rapidly referred to a hospitsl ft)r secondary and t8rtlary I&v81 c3r8. Th8 MAA clinic is therefore essential in the delivery of adèqualg healthcare and 8180 fadlltatss the 18f&rral and transportation of women to secondary or tartlary hèalth cenlres, addressing both the delays in reachlng and recolvlng care. and subsequently prtsventsng malemal mortality and morbidlty. E8c4) compon8nl of the HS mod81 addresses diff8r8nt e(8ments of the threo-d6lay mod81, providing an efficAent and effective approach lo the deliv&ry of maternal heallh¢afe and maternal education in resourca-poor sèitings. Wrth the successful implementstlon of the HS modol, MAA aims to improve maternal and neonatal health outcom0s In Bangladesh. Flnanclal revlew Our*ng the per￿ the Charity received donations of £168,873 and spent £170,598.39 in furthÈran(* of Sts oblgcts. 11 is the policy of the charity that unrestricted funds which hav8 not beon designated for a sp8cSflc uso should be maintained al a level equivalent to between three and slx mtsnth8 expenditure. The trusteès consider that reserves at this1gvg5 will ensure that, In the gvenl of a slgnthcanl drop In funding. they vlll be abl8 lo conllnue the chariws current actiwties whilg consideration is given lo ways in vthich additional funds may be raised. This level of reserves has been Malntaln8d throughout the year. The twstees have assessed the rn8lor risks lo whlth the challty 18 eyposed, and are ¥atisfied that systems are in place to mltlgala exposure lo the major rlsks. Structurei governaneè and mahagèment The charity is an Incorporbted Or98nisation goverrth by its constitution. MATERNAL AID ASSOCIATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees who served durlng the year ond up to th8 dat8 of slgnature of the financial slalements were: DrAJalglrdar Dr U Haroon Trustee vacancies should be advertised, however existing trustses are encouraged lo pul forward names for o)nslderadon. New tnjstees are then appoSnted by majority consensus. Trustees will serye for a three year p￿70d before being eligible for r8-818Ction. A trustee will be appointed to liaise wtth professlonBI advisors to disrjjss flnanclal Issues and bts responsible for ad￿SIng the Board of Trustees on rinancial matters. The Ixjard of trustees adminSst6r5 th8 Charity and comprises of three members who meet as and whon required. There is a process In place to Induct n8w trustsos who ar6 olven an overvlew of the charty and the eKJntsxt wilhln which it operates. Thls eovers.. the obligations of trustees., the main documents which set out the operat￿￿81 framework for the charity including the conslilulion; resourclng the current flnancial poslllon 8s set out in the latest published accounts,. - future p￿anS and objgctive The trustees. report was approved by the Board ofTrustees. Dr A Jaigird•r Trustee MATERNAL AID ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MATERNAL AID ASSOCIATION I report to the l¥u8lees on my examlnatlon of the flnanclal statements of Matsmal Aqd Assoclation Ilhe charity) foT the y8ar ended 30 Sepletnber 2024. Re8pon81bllltlts8 and ba818 of rfyport As the Iruslees of the ehar4ty you are responslble for the preparauon of the 1Snanclal 81attsments In accordance th the requirements of the Charities Act 2011. I report In respect of my examlnallon of the charlty's financlal slatsmenls carried out under section 145 of the 2011 Act. In carrying out my ex8minallon I have followed all the applicable directions gwen by the Charfty C￿mMISsion under section 145151{bl of the 2011 Act. Independent oxaminerfs statement Your attention is drawn lo the fact that the charity has prepared the finaficial stalements in accordance wSlh the felevant version of the Slalemenl of Recommended Practice applicable lo charittes preparing their fin8nciAI statements In accordance with the Flnancial Reportlng Standard 8ppll¢able in the UK and Republlc of Ireland IFRS 1021 in prgler8nGo to th& Accountlllg and Reporting by Charities.. SlalemeHt of Rgcornmended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done In order for the finandal statements to provSde B true and f8lr view In 8c(xJrd8nce w41h UK GenerallyAcwted Accounting Practice. I have completed my examination. I confirm that no matters hav& come lo my attenllon In connectlon wSth the examination giving me cause to believe that in any material respect.. accountlng records were not kept in respect of th6 charSty as rnquirad by s8Ctlon 130 of th8 Charities Act 2011. th& financlal statements do not accord wth those records,. or the financial statements do not comply with the applicablè requirements conc8ming th8 form and cont8nl flnandal slatoments set out In Ihe Ch8rltle8 (AC(￿unt8 and R?port8) Regulallon8 2008 other than any requirement that Ihg financial slalem8nts give a true and fair view, which is not a matter consldered as part of an independent examination. I have no ¢on¢8ms and have com8 a¢r055 no other mat18rs in connection with the examination lo whlch attenllon should be drawn in Ihls report in order lo enable a PToper underslandlng of the finanejal slat¢ments to be reached. Tony Beale Xeinadin SL Limited Chartered Accountants Level 5A, Maple House 149 Tot18nham Court Road London W1T7NF MATERNAL AID ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted funds 2024 Unrestrlcted funds 2023 Notes In¢omt trom: Donallons and legacS8S 168,871 162,576 Total Ineom• 168,871 162,576 Ex￿ndIture on: Ralslng funds Charltable actlvlles 2,438 194,828 176.422 Totol expèndltur• 197,266 176,422 Nèt •xp•ndituN and movam•nt In funds 128,3951 113,846) Reconclllatlon of funds: Fund balances at 1 Oclob8r 2023 51,760 85,606 Fund balances at 30 Septèmbèr 2024 23,365 51,760 The ststement of finandal activitses includes all gains and losses recognlsed in the year. All income and expandlture d8rivtr from ¢onlinulng 8clvilie8. MATERNAL AID ASSOCIATION BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Notès Curr•nt assats Debtors Cash al bank and hand 11 816 26,569 818 56,704 27.385 57.520 Creditors: amounts fallin9 due withln one year 12 14,0201 {5.760) Net current as8ets 23,365 51.760 Th• funds of the eharity Unrestrlcled funds 13 23,365 51,760 23,365 51,760 Th8 fingndal stslem8nts w8r8 approved by the trustees on ......................... DrA Jalglrdar Trustee MATERNAL AID ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcles Charity infomiation Maternal AsSOCi8tion is a ch8ritabl8 trusi 1.1 Ac¢ounting eonvantlon The linand81 statements hove been prepared In acfX)rdance wlth th8 govemlng documant, th Charities Act 2011, FRS 102 "The Finan￿81 Reporting Sl8ndard applicable in the UK and Republic of Ireland. and the Charities SORP "Accounting and Reporting by Ch8rities.' St8tement of Recommended PrBCtice appllcable to charfties preparfng their accounts In accordance wlth the Flnancial Raportlng Stsndard appllcable In the UK and Republic of Irdand IFRS 1021.. The charfty is a PublSc Benefit Entity as defined by FRS 102. The charity has taken advantsge of the provis￿nS in the SORP for charfties not to prepare a ststemenl of cash flows. The fmancial statements have departed from the Charities (Ace￿)Unts Bnd Reports) Regulations 2008 only to the oxtont rouulr8d lo provide a true and falr vl8w. Thls departure has involved following the Slalemenl of Rèc0rnrn8nded Practice for rth8rili88 applying FRS 102 r8ther than the vers*on of the Statement of Recornmended Practi￿ whkh is referred lo in the Regulatlons but which has since been withdrBWn. The financ181 stalemtsnls are propared In $18rting, wh￿h is the functional Currency of the charity. Monetary amounts In thèse financAal statements are rotsnded to the nearest £. The fln8nci81 statements have been prep8red under tho historical cost convenllon. Thts prindpal accounting policies adopted ar8 Bel out below. 1.2 Golng cone•rn At the tlme of 8pprovlng the flnancl81 s121ements, the trustees have a ￿8$Onable expectstlon tt)81 the charity has adequate resourGes to ¢onlinve in operational existence for the foreseeable future. Thus the trustees conllnue lo adopt the going concem basis of &ccounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use al the discretion of the trL*Stees in furtheran¢g of tholr ¢haritsble objectives. 1.4 Incom• Incom8 Is racognls8d whèn th8 ¢harlty Is I&u8lly 8nlllled lo il after 8ny pÉfft)mancg condlllons have been m81, thè amounts can ba m9asured reli8bly, and il Is Probable that income will be received. Cash donallons are recogn188(l on recelpt. 0th8r donations are rncognlsed once th8 charily has b86n noliflod of the donation. unless performance conditions require deferial of the amount. Incom& tax recoverabl& in relafjon tr) donatlons recelved under Gfft Ald or deeds of Covenant is recounlsed al the Ilmo of th8 donat￿n, Legacles are recognlsed on recfrlpt or otharwlsè if the charty h85 been notified of an impending dislribul£on, the amount is known, and recelpt 58 expected. If the amount Is not known, the legaGy IS treated as a contingent asseL 1.5 Expendlture Liabilities are recoonised as ￿SoUr￿$ expended as soon as there is a legal or constructive obligation commlldng the charfly lo the &xpendlture. All expendlture Is accounted for on an ac¢rual basi8 and has b¢en clas&f+6d under hè8dings that aggragate 811 costs Felaleil to th8 ¢818gory. Irrecoverable VAT is charged against the category of resources expended forwhlch11 was Incurred. MATERNALAID ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollclos Icontlnued) 1.6 Cash and cash èquivalents Cash and eash 8guivalènls includo cash in hand, d8posits held al call S￿1h bank8, other short-lemi liqu+d Investments with 0￿gInal m8turtlles of three month8 or less, and bank overdratts. Bank overdrafts ara shown vAlhln borrowings in current Ilabllltlas. 1.7 Flnanclal Instruments The ch8rfty has 818Ct8d to 8pply th8 p￿￿$10￿5 of Sect6on 11 'B8sic Flnancial Instruments, and Section 12 'Olher Flnanclal Instruments Issues, of FRS 102 to all of Its financlal Instruments. Flnandal Instruments are reeK)gnlsed In the eharftvs b8lan¢A shoel when Ihg charJty beeomes party to the fX)nlractual provlsions of the instrument. Financial assets and li8bilities are offset. with the net amounts prtsenlgd in the financial st81emenls. when thgrg is alggally enforcgalAe right to sgt off the rgcognised amounts and th8re is an in18ntion lo settle on a nel basis or lo rgalise the asset and settle the liability simultaneously. Basic financial as$gts Basie finandal 9558ts, whlch includg dobt￿$ and cash and bank balances, are initially measured at tr8nsaclion price including tranSaCt￿n costs and are subsequently carried al amortised cost using the effectiv6 interest method unless the arrangement constitutes a finBncAng transaclKJn. where the tronsaction 58 rneasured al the present value of the future receipts discount6d 8t a markgt ral8 of Intgrgst. Flnanctal assets ejassbfled as recelvable wlthln one year are not 8mortised, Basic flnanclal Ilabllltl•s Basic financbal liabilities, Induding ueditOTS and bank loans are InlU81ty rocognlsod 01 transactlon prfco unlass the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value ol the f￿l￿re pAyments discounted 818 markal rate of Interest. Financial liabilities classified as payable wlthln ¢)no year 8ra not arnoTr￿Sed. Oebt instruments are subsequenlty canied 8t amortlS8d cost, tjsing thè off$ctive intsrest ryatè method. Trade (¥edltors are obligations lo pay for goods or se￿Ice$ that have been acquired in the ordlnary cours6 of operations from suppliers. Amounts payable are classlfled as current Ilabllilles 11 p8ymènl Is due within one year or less. If not. they are presented as non-currenl IIBblllUes. Trade credito￿ are re￿g￿lsed initially at transactlot) prfcé and subsgquènlly m8asured 81 amortised cost Using the effective interest melhod. Derecognltlon of flnanelal Ilabllbll8s Flnanclal IIBbllllles are derecognlsed when the ch8dWs wntractsjal obllgatlons explre or are (Jlscharged or cancèllad. 1.8 Employ80 beneflts The cost of any unused hollday entlllement Is rettjgnlsed In the perlod In whlch the employe6'8 ser￿¢6$ &ro recelved. Tgmilnallon benaflts 8r8 re¢ognl8ed Immedletsly as an exp8nse when the chartty Is demonstrably commltt8d 10 18miinat8 Ihe employment of an employee or lo provlde lemiinalion benefits. MATERNAL AID ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Crltlcal accountlng è#tlmate$ and Judgèments In the applieAtion of thè charity's accounting policies, the tmst8é5 8r8 ￿qUIred to make judgements, estimates and assumptlons about the carryln9 amount of 8ss8ts and1Sabili1188 that are not readily apparent from othor sources. The eslimales and associated assumptions are based on historical experlence and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimate5 and underfying a55umplions are reviewed on an ongoing basis. Revisions to accoumllng estimates are recognised in the pe¥iod in which the estimate is revised where the ￿￿slon affects only that period. or In ihe porlod of the revl$lon and fulurg pgriods whero the revlsion affects both current and future P6ri0ds. Incomo from donatlons and ￿gO¢10S Unr¢strl¢ted Unr&8trl¢tsd fund8 funds 2024 2023 DOna￿on$ 8nd glfts 168,871 162.576 Expendlture on ralslng funds Unrestricted Unr•strfct•d funds funds 2024 2023 Fundralslng and publlclty Advertising 2,438 Charltsble •¢tlviti08 Governance Charitable costs expendSture 2024 2024 Total 2024 Total 2023 Charitable oxpendiiure 170.598 170,598 153,752 Share of oov&m8nce costs188e note 6) 24.230 24,230 22.670 24,230 170,598 194,828 176,422 MATERNAL AID ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENOED 30 SEPTEMBER 2024 Support costs Support Governance costs costs 2024Support costs Govemance Costs 2023 Acwuntancy Legal and piofessSonal 2,040 22,190 1,980 20,690 1,980 20,890 22,190 24.230 24.230 22,670 22,670 Analysed be￿een Support and Governance Costs 24.230 24.230 22,670 22.670 Govemance cost8 indudes payments to the independent examiner of £2,04012023- £1.9801 lor ace(MJntancy fees. Net movement in funds 2024 2023 The ng1 movement in funds is Stat￿ after chargingllcreditingl.. Feos payable for tho Indopendent examln8Uon of the d)arttls financlal stst8rn8nts 3,780 1.980 Truste8S None of the trustees lor any persons connected with them) received any remuneration or benefits from tho charity during the yea¥. Employee8 The 8v8ragts monthty numbgr of emptOy888 durthg the yearwas.. 2024 Numbar 2023 Numbor Total The￿ were no employees wh08e annual remuner811on was mcw8 than £60,000. 10 T8xati¢n The charltylg exempt from tsXa￿on on lis act1￿lIeS bocause all Its Incomts Is 8pplled for thafitable wrpose3. MATERNAL AID ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEWIBER 2024 11 Debtors 2024 2023 Amounts falllng duè wlthln on• y•ar'. Cxher debtors 816 816 12 Cr•dltor8'. amounts falllng duè withlh one year 2024 2023 Other credllors Accruals and delerled Inc￿m8 3.780 1.980 4,020 4,020 5,760 13 Unr85trbCted funds The unrestricted funds of the charlly ¢ompdso the unoxpgnd8cI balanc8s of donations and grants whlch are not subject lo spe¢lfic conditions by donors and grdnlors as to how they may be used. These indud8 designated funds vthich have been sel aside out of unrestricted funds by the trustees for specific pvrpo8e8. At 1 October 2023 Incomlng resourc Re8ourc•8 èxpèndèd At30 Sèptember 2024 G8ngral fijnds 51,760 168.871 1197,26fj} 23,365 Previous year. At l Oct¢bar 2022 In¢oming resources Resources At30 expènded S¢ptember 2023 General funds 65,606 162,576 1176,4221 51.760 14 Related party transactlons Therè wèr6 no dlsclos&ble related party transactions during the year12023- nonè). 10.