2025-03-31-accounts

The Borne Foundation Annual Report and Financial Statements 31 March 2025 Comp2ny Llmlted by Guarantee Registratlon Number 09788534 (England and Wales} Charity Registration Number 1167073 (Eng12nd and Wales)

Conlents Reports Reference and administrative deteils Trustees, report Independent audllors report 15 Flnanclal Stgtements Statement of financial activities 19 Balance sheet 20 statement of cash flows 21 Principal accounting policies 22 Notes to Ihe financial statements 26

Reference and Admlnlstratlve Details Trustees J R H Mylchreest Ichaiim8n) Lady P Cadogan (appointed Iolh Oct 2024) R Cope laptK)inled l Oth Oct 20241 R Jafar Prof. M Johnson {3ppoir¥led 41h Jul 20241 C L Mof12t ￿M￿e Prof. L Poslon (appointed 16th May 2CTr241 F P Vanni d'Archirafi Reglstered Office 3rd Floor, 315-317 New Kings R08d London SW6 4RF Telephone [phone] Webslte www.borne.org.uk Company reglstfallon number og788534 {Erw18nd and Wales) Chartty reg181ratlon number 1167073 (Engl8nd and Wales) Audltor Barnes Roffe Audll Limited Chailes Lake House, Claire Causeway Crossways Biisines% Park D2rllord DA26QA Bankers CAF Rank 25 Kings Hill Avenue Kings Hill Wesl Melling ME19 4TA Investment Man8gers Insignis Cash Solullons st Johns Innovation Centre Crowley Road Cambridge CB4 OWS The Borne Foundation Paoe11

Trustees Report at 31 March 2025 Thetrustees present their report logelherwith the audited financial slalements of Boine Foundation ('the ch8ritable compan￿) for the year ended 31 KAarch 2025. This report has been prepared in accordance with Parl 8 of the Charities Act 2011 8nd serves as a directors. report for ihe purposes of the Companies Acl 2006. The financial slalemenls have been prepared In accord8ncewilh theaccounling policies Set out on pages 22 to 26 Iherein and cornply with the charitable companys Memorandum and Arllcles of Association, applicable laws and Accounting and Reporllng by Charities.. Statement of Recommended Piaclice applicable to charities preparing their accounts in accord8nce with Ilie Flnanclal Repoillng Stand8rd applicable in the United Kingdom anti Republic of Ireland (FRS 1021. Publlc Benefft The Board of Trustees have taken account of the Chaiity Commlssion's guidance on public benefit in reviewing Borne's aims and objectlves and planning future 8ctivilles, ABOUT BORNE Resear¢h to prevent premalure blrth The Borne Foundation Is a registered chaiity founded by obstetrician Pfofessor Mark Johnson, a physician and obslelrician who has seen the devaslallng effects of premaluiily first-hand. Premalurily Is the term used to describe 811 babies born before 37 weeks of pregnancy. In the UK, a baby is generally considered viable il il is borii al 24 weeks, yet Ihelr chances of survival are only 50°&. abies who are born too soon f8ce many challenges. The eailier a baby Is born, the more likely their organs wlll suffer damage or not develop as Ihey should because they 8re less mature. Each day in the womb Is esscnlial to a babys healthy development and siirvivel. For example, in the UK, babies who 8re born al 23 weeks ai)d survive have a 92.￿ chance of experienclng a dis8bility. If that b2by can stay in the womb an extra three weeks and be bDrn a126 week8, the chance of having 8 dis8bility is reduced to 41 %. Borne believes scientific research is the key lo bring about lasting change. Yel, funding for research into complications during pregnancy and childbiiih lags far behind other medical conditions. We are working to change that. By investing in respareh, we will find answers, improve care and nurture talent in this pressing area if need. ACTIVITIESAND PERFORMANCE Bornds research strategy The research that Borne funds is focused on the pregnancy period and Ihe f8Ctors and conditions In pregnancy that may lead to preterm birth. We seek lo deepen our knowledge of the biologlcal processes of pregnancy and chlldbirth lo beller LJnderst8nd the sionlficance of changes in the maternal environment throughaul pregnancy and define the mechanisms involved in normal and abnormal labour. Only by understanding the normal process can we begln to understand the 8bnormèl in order to delay the onset of preterm labour as well as lo idenlify markers of risk in women that are likely lo deliver their babies preterm. This understanding Is fundamental to the development of diagnostic, treatment and prevention strategies lo ieduce the iale ol pielerm birlh. The Borne Foundation Paoe12

Trustees Report at 31 March 2025 We do not directly participate in research associated with assisted conception, or 8reas of maternal health that ale not directly linked lo pregnancy or birth,. service delivery researah also falls outside our remil. Our primary objeclwes are.. 1. To encourage btg sclence and foster selentlfic collaboratlon We want to invest in cutting edge teehniques 2nd experllse that bring sclenlisls 2nd clinicians together to advance collective knowledge and help make breakthroughs possible. 2. To strengthen the earfy-stage research base We pump-prime promising new research ideas, giving scientists the impetus to develop their analysis and advance Iheir breakthrough projects. We want to make sure that the best ideas. backed up by the strongest science, have the greatest change Its succeed. We invest in world-class early-slage research project.8 vettpd by 2n indppp.nde.nt Scientific Advisory Board. By offering 8 number of projecl-based awards lo support the research prograrnmes of lenured researchers, we enable sclenlist.q to take Ihpir novel ideas forward with preliminary dala that en2ble them to applyfoi furtherfunding from research councils and olhergrant-m8king bodies for larger scale studles, effeclNely leveraging the contribution of Borne's supporters sever81 times over the initial investment. 3. To bulld oapaety In our area of need We must allrecl more of the besl medic81 and scientific minds to develop their research interests in obstetrics research and conditions in pregnancy that m2y lead to preterm biilh. By offering Clinie81 Research Training Fellowships, we provide a means for clinically qualilieg eandidate8 lo establish thelr research track record Ènd the skills required to become academic clinicians through PhD or other higher research clegree. We also supp(vt talented post-doctoral researchers with their Ir8nsilion to independent inve8lig8tor with funding for an embitious proor8mme of research training that offers 8cceler8ted personal and career development to lead their own research plans and establish their own research ieam. Our research In revlew BUMP (Bome's Uterlne Mapplng ProJect) The Borne Uteriiie Mapping Project (BUMP) alms to gather a unioue collection of samples collected during pregnancy and after birth, analysed in delail usiiig cutting-edge technology, to create a map of the womb. By encouraging collaboration, this project will enable clinicians and scientists to get the full pictLtre of the process of labour, and help find the interventions we need to prevent pre-term birth. A project of this scale and ambition has never been 8tlempted before. The first step has beerb to carry out a feasibility study for BUl4JP. In this Iwo-year study, the research team created the infrastructure and eslablisheci the workflows that will make BUMP a success, The project has brouoht together 8 mulll- dlsclplinary leam of scienllsls. cllnic18ns, surgeons, and bioinformallcbans frotn across the UK and beyond. The feeslblllty phase has now been completed. The tearTr focussed on collecling samples from women al full-term, in18boL¢r or not. Focusing on full-term pregnancies made it simpler lo gain consent from mothers lo donate samples, and test the protocols for sample collection before movino onto recruiting women in pre-term labour. The Borne Foundation Page13

Trustees RetK)rt at 31 March 2025 This approach also allows the research team lo sl811 uncieislanding the fundamenlals of normal full- term labour, which will allow them to Identify what goes wr(M)g in pre-leim18bour. By sh8ring their knowledge and resources, the BUMP team designed Standard Opelaling Pfocedures (SOPS) for sample collection and 8nalysls. Then, they recruited 24 women with a full-term pregnancy to donate samples and data. The bioinformalicians, scienlisls and clinicians worked collaboratively lo analyse these samples, creatino a comprehenslve map of molecular changes in the womb durino the Iransilion from pregn8ncy to labour. Uliimalely. the research team successfully demonstrated Ih8t BUMP was not only feasible bui would achieve its aims, laying the lound81ions for the next phase ol BUMP. hloving Forward, the goal of the next phase, which we are calling Blg BUMP, is lo bulld new biological foundations for understanding pre-terffl birth. This will be achieved by uslng stale-of-thparl molecular techniques lo analyse the cells and tissues donated by pregnant women. These meihods can be used lo idenllfy changes in key molecules before and during18bour, to declpher the mechanisms driving pre- term birth arid uncover potential targets for new inlervenlions. The data generated from the core analysis will be linked to gamples and anonymised information from mothers and babies, and 811 this will be stored in a central bioinformatlcs hub. This will allow Ihe BUMP team lo securely share the dat8 with scientists worldwide lo acceler8le their resedrch. Eventually, we will open a communilyweb portal, where all data ielalino to the project wlll be available to approved scienlisls, including $18ndard operating procedures {SOPsl, data, and results from ihe study. The plan for BUMP Is lo expand local centres to locations across the UK and the world, to recrult donors from a moro diverse backgraiind, and from different eounlries where the causes of pre-term birth may differ from the UK. It will also provide an opportunity to test prevenlalive inlervenllons in different settings, to make sure they are appropriate and effective for mothers worldwide. Flndlng Answers We fund research that helps creale a deeper understanding of pregnancy lo achieve the seientific breakthroughs which will prevent premature blrth. Thls resea¥ch lays the foundations for lasting change and gives hope to those who have experienced premature birth. INSIGHT-2 is o longitudin81 study into pregnancy complications and thelr Impact on matern81 and child health. This five-ye8r 81udy is recruiting a diverse cohort of 1,70J pregnant women and follow up their children to 2 years ol age. Data collected Includes clinical and lifestyle faLlors. and a range of biologic81 samples, providing 2 comprehensive resource for mulllple investig2tlons. The exploration of pre- preonancy and pregnancy factors Iliat may impact felal wellbeing and future health will provide 8 comprehensive picture ol clisease mechanisms In both ihe tnolher and child, aiding the idenlificalion of biomarkers forprediction, diagnosis, and management of pregnancycompllcallons. This study LFliimalely aims lo improve maternal and child health by providing a valuable longitudinal study of the relalionship between the in-ulero environmenl, pregnancy management, and long-term maleinal and child health. We recently awarded lunding lo DrJulla Zollner from University College London to investigate the genetic 8rchlleclure of spontaneous premature birth within the British South Asian community, which has a high premature birth rale but is underrepresented in genomic and pregnancy-relaled studies. The project InclLJdes both genotype array and hlgh-deplh exome seouenclng data, allowing investigation into common and rare variants contributing lo risks ol premature birth. A beller understanding of the biological reasons behind prematuie birth could lead to the development of new ways lo predlcl and polenllally prevent premature birth. The ￿orrte Found81ion Page14

Trustees Report at 31 March 2025 We also awarded fundlng to Professor StLJerl Haslam from Imperial College Londor¢ to look at the role of lower reproductive Iracl glycosylation in maintaining a healthy pregnancy. This project Is fundatnental to shed light on the causes of preterm birth in woinen who are not considered at high risk. This knowledge will aid the development of new inlervenlions 2nd therapies to prevent microbiome-driven preterm birth and improve the health OLJtcomes of expec18nt mothers and their babies. DrAshley Boyle and Professors Sirnon Waddington and Donald Peebles of University College London 8re developing an innovative antimicrobial therapy lo boost the bodls natural clefences against Infection. Evidence suggests thal b8Cteria can enter the womb, triggering infl2mmation and increasirig the risk of early labour. Using mice lo mimic preterm birth, this project investigates whether increasing the concenliation of an anlibaclerial protein in the ￿rviX wlll prevent preterm birth and piotecl pups from brain damage. It will also investigate whether this Irealment, combined with progesterone (the current gold standard preventative Irealmenll provides additional benelil. Additionally, the project examines their anti-lnflammatory and 8nlib8clerial effects both in mice and in human ceNic81 and vaginal cells. The idenllficalion of novel approaches will lay the louridation lo further develop and progress them into human trials, uliim81ely transforming maternal and neonatÈl healthcare. Strengthening the research base is key to bringing about lasllng change. Through our coll8borallon with Aclion Medical research, we provide scientists with the momentum needed to advance lhp.ir pioneering projects. This progress enèbles them to pursue competitive funding research opportunities fiom research Councils, fecili18ting the transition of iheir discoveries into the testing and Iranslallon inlo new treatmenls. Dr Victoria Male and her team from Imperial College London have Identified a new klnd of immune cell in the lining of the uterus. whose number and activity incre8se8 during12hnur. These cells switch on genes that aclivale the local immune response and help the waters to bleak. The aim of this project Is to determine whether or not these cells trigger labour. The leam 8re comparing the nuinber and characteristics of cells donated by pregn8nt women al full term, who arp. either not in13bour or in e3ily laboLJr. If these cells are involved in starling labou¥, changes should be seen in early labour. The researchers expect the cells to be more numerous and 2clive when the waters h8ve broken. The lea will then investig8le whether simllar mechanisms are involved in preterm18EKJur. 8y fully undeistanding how these Immune cells 2re involved in18bour, future studies might be able to target them, or some of the molecules they make, lo prevent preterm labour. Finding an effective Irealmenl lo reduce the number of babies born loo soon would mitigate some of the emotional, physical and finanei21 costs of premature birth, Improvlng Trealmenl Until we can end premature birth, we need to do all we can lo improve Irealmenl and results for those experiencing the trauma that it brlngs. OLJr research looks 81 ways that treatment can be improved by deepenbng OLJr understanding of triggers. signs and indicators during pregnar￿Y and how these could help prolong the time a baby remains in the womb. The PROMPT project is cre81ing a point-of-care test lo detect infection-induced pieterrn latK)ur, enabling us to treat the infection and delay blrth. Dr Nlshel Shah 8nd his team from Imperlal College London are developlng a new poinl-of-care testing methodology lo identify preleim labour caused by infecllon and therefore be able lo provide the most appropriate Iiealmenl forthe specific infection and delay blrih. This approach requires amnlocentesis and, before commencing the sludy the researchers completed a systematic review and engaged the public. Importantly, the results fiom thls research Indicated that the use ol amniocentesis is both sale and acceptable to patients. The Borne Foundation Page15

Trustees Report at 31 March 2025 Recruilment inlo the main study is now underway and the team have been able to obtain point of care results withln 2 hours and commence antlbiolic Iieatment. Clinically, the rapid results have been useful to promptly initiate steroids and cerebral neuroprotecllon Iwilh magnesiLJm IV) where these were not given initially and have been informative for the neonalèl team. Professor A H Shennan and his team at St Thomas Hospital, Klngs College London are conducting a ranéomised control trial comparing tranS￿gInal cerclage and tr3nsabdominal cerclage in women who have had a previous In-labour caesarean section and subsequent pre-term birth or mid-tiimesler loss. This research will identify the most effective treatment for women at particular￿ high risk of preterm birth, resulting in prolonged pregn3ney gesl2lions and associated recluction in fetal mortality and morbidity. If transabdomin81 terclage is found lo be superior lo transv8gSnal cerclage In women with a previous in-labour caesarean section. transabdominal cwclage may be offered ats the first line inlervention in the future. NurtUTlng Talent For advances to be m8de, we need the best scientists and clinician8 to choo%e lo forge their careers in this area of medical research. We support obstetiicians, neonalologisls, midwives and neona131 nurses to embrace their research interests. An important component of our approach at Borne Is lo build research capaclty by fundsng the tralning of the next generation of scientists through project based PhD fellowbhips and also through our partnershlp wlth the Medical Research Council IMRCI. By offering cllnlcal rosearch tr2inlng fellowships in partnership with the MRL. we provide a means for clinlcally Qualified candidates to obtain the research track record and skills required through a PhD or oiher Iiigher resedfLlI degree. We albo support talented post-doctoral rcscarchers wlth thclr Iransillon lo Independent investigatoi with a Career Development Award, also jointly funded wsih the MRC while additional phD students are supported as part of specific projects. Emilie Patterson, Imperial College London is 8 PhD sludenl working with Dr Vikl Male al Imperial College London on her Borne furlded grant focussed on inflammation. In about a third ol cases of premature laboLJr, the reason why labour hag sl8rted early Is unkllown. A greater understanding of how labour s18rls al term will help determine whether the seme processes are Involved in premalure birth. This will help Identify ihe cause of premature labour and Inform the development of inlervenlions to prevent or delay early onset of18bour. Previous Bome-funded research identified 8 new kind of immune cell, which is only present in Antonia Cuff is a Pho student at Imperial College, is also working on inflammation with Di Viki I￿ale al Imperial College London. There is evidence fiom mice lo suggest Ihal a kind of immune ell, called ILC3, can help lo prevent preterm birth when Iheie is a bacteri81 infection in the uterus. Antonia wanted to find out if the same thing happens In humans. Antonia didn't find ILC3 responding to bacterial infection in Preg￿ar￿y, bul she did find that Ihey are active in uterine repalr immediately aller 8 period or giving blith. She also found Ihal ILC3 are further from the cells they need lo comtnunlcate with lo help repalr the uterus In endornetrk)sls patients. Endometriosis makes il 2-3 limes more likely that someone will give birth preterm so Anlonia's findings on ILC3 and endomelriosls could sllll help prevent preterm blith, Dr Shreya Shelh, Imperial College London is looking al the role of uterine NK cell subset5 Iri mediating placental implemenlalion. The lining of the uterus Is Ilch in uterine n81urel killer cells that promote placental implantation, and 3 subsets have recently been found. This project will deleimine which subsellsl mediate placental implanlalion, and how,. by comp8ring dif*erences belweern fertile palienls and those affected by disorders of insufficient implanlalion. The Borne FouncFalian Page16

Trustees Report at 31 March 2025 Preliminary c12ta indicates that UNKI may be defective in those with insufficlenl placental imp18ntalion', as UNK1 are most active at the lime of implantation and thelr activity is reduced in patients experiencing failures of early pregnancy. This research w(11 Identify the UNK SLrbsel(s) that are subfunctional in disorders of placental irnplantation, as well as the molecules Involved in thls process. This will inform the development of inleivenlions to promote implanlalion, thereby reducing ihe burden of premature birth associated with insufficlenl implantation. Our fundralslng We are deeply grateful lo all our supporters who h8ve don8ted to Borne over the past year. Thelr contributions are essential for funding our lifesaving research aimed al preventing premature blrlh. In June 2024, we celebrated a beautiful summers evening of Ilallan fine dining, thanks lo our Ambassador. the world-renowned chef Fr8ncesco Mazzei and his team. This speclal event, hosted by Borne Truslee Francesco Vanni d'Archirafi, gathered supporters lo update them on our latesl aims, with a specific focus on our Uterine Mapping Project (BUMP). Oui special thanks to our Ambassador Allslalr Pelrie for hosting a spect2cular auction and for bravely sharing his story ol premature birth wlth gLJests. Our annual golf day, one of our most impoitant annu81 events. returned once again al the beautiful Surrey golf course in Sunningdale. Led byour Patron Will Greenwood MBE, thi8 yea¢s event raised over £1 00.000 for the very first lime. Our heartfelt Ihanks go to everyone who enjoyed this unforgellable day and generously bid for auction prizes and made donations. In March 2025, we were thrilled to seeihe return of Wonderland. The first tlme we have held this event in sixyears, our biggest fundiaising ga12 was brought to the spectacular V&A Inuseum in Lonofon. The event Was hosted by acclaimed actor and Rorne Amba.£qador Alislair Petrie, and featured an exclusive performance by Ellie Goulding. Thanks to the generosity of our suppoiters. we raised over £35D,000, far exceeding ourexpeclalions. We were overwhelmed by the support by so m<iny who dedicated Ihelr hard work and lime to st￿e this incredible evenlno of pprfarmanee, dining and fundraislng In support of our mission. We extend our heartfelt thanks to Wonderland co-ch8irs H8Oey Bloomingdale Slileman and Fiorina Benveniste Schuler, and the entire Wonderland committee for making this event possible, Al the event we were honoured to announce Her Royal Highness Princess Bealrlce as our patron. Her personal commitment lo ending PTemalure birth glob811y will be Invaluable as we amplifyour efforts, and we look forward to conlinijing to work togeiher to find Oltt why babies are born loo s(x)n. We are particularly grateful for the dedication and inspiration of Archie and Chloe Hunter for sharing their painful yel heartwarming story. and Borne Trustee Charlotle Nloffal who ensured that the event Was the success that it was. And, of course, OLJr sincere thanks to those who allended and donated to Borne that evening we deeply appreciate your conlribulions, Borne 2180 SLJecessfully p8rlicipated in the Big Give Chiistmas Challenge campalgn for the fifth consecutive year, meeting our ambilioLFS largel of raislng £100.JOO through this matched funding initiative, enabling us to fund two br8nd new pump-prime research projects. We are once again immensely grateful lo Mark Ryeland and Nowden Insurance Brokers, Health & Care Division for championing Borne as the match funder for this fundraiser, and the Julia Rausing Trust who were our pledge donor. We also extend our heartfelt thanks lo Rob and Siri Cope, and Charles and Deric8 Noall for their generous conlribulions during the Big Give, which was Instrumental in helping us meet our larget. Additionally, 3 huge thankyou to our Borne Ambassadors- Ellie Gibson, Alistair Petrie, and Erin O'connor who promoted the campaigll across Iheir social media networks. The Borne Foundation Page17

Trustees Report at 31 March 2025 As always, we are profoundly oraleful lo our Foundation Donors whose ongoing financial contributions have continued lo support the core of the charitys work ihls year. These generous donors inelude Blake and Michael Dalfey, Lynn and 14Aajld Jafar, Razan JafÈr Ènd Adnan Said. Fione and Julian Mylchreesl, Derlca 2nd Charles No211, Helly and Nick Pye, Francesco and Charlolle Vanni dArchirafi, Federico ancl Andrea Fruhbeck, and Howclen Insurance Brokers, He?Iih & Care Division. We are 2180 humbled by the donation received from Alexander de Carvalho & Stephanie Ellz, which will be truly Iranslormational in our efforts to find the answers to premature birth. We WOLJld 81sD like to sincerely thank the following Trusts and Foundalions who believe in our work and have supported us ihis year.. The Kidani Memorial Trust, Tlie Julia Rausing Trust, The V8ssepi Trust, The Edwina Mountballen & Leonora Childrens Foundation, The Saekler Trust, The Chandris Foundation Trustees Limited. and The Lord Leverhulme Charitable Trust. Thank you to those who have made don3lions in memory of a loved one, or in IleLJ of a wedding present (Murray Auchlncloss and Julia Emanuelel or birthday gift {Tania and John S8monasl, and to Alice Naylor- Leyland for donating proceeds from her new baby shower range. Your boundless qenerosity and belief in our mission are deeply appreciated. Thank you for spreading awareness of our vital work among your loved ones. A big thank you to the numerous events and community fundraisers across the UK who have SLJPPOited us by completing marathons, half meraihoiis, cycling events, and bèking cakes. Parliculaf note goes lo Borne Ambassador Helen Thorne who Successful￿ ran the Tokyo Marathon (an extra speoial achievement as she has now completed all six of ihe Worfd Nhar2thon Majors} and Becca Bedier for running the Alton Towers 5k. We are proud io have launchecl ihe second series of OLJr groundbreaking podeasl featurlng powerful stories and conversÈtions, pergonal journeys 8nd expert insights, led by aiir p(xieast hosts Ellie Gibson, Caro Tasker and Mark Johnson, each bringing warmth, honesty and a lauch of humour to our cause. We would 81s0 Ilke to Ècknowledge the Friends of Borne, whose regular oifts are able lo give us the conlidence lo fund the best research. We could not continue our research efforts without your unwavering support. Finally, a big thank you to all those who have supported us that wish lo remain anonymous. 8orne upholds strong fundralslng practlces in accordance with the Fundraislng Regulator's updated Code of Fundraising Practice. We do not contact individuals with telephone or direct mail fundraising methods, anci we do not engage Ihird-party companies lo solicit don81ions for us. Bornes piivacy notice is comp113nt with GOPR ancl d818 protection laws, and we h8ve an active complaint handling procediire available on our website. To dale, we have not receivecf any complaints. Loo￿ng ahead Wilh the successful completion of ihe BUMP feasibility siudy, we are now about lo scale up the project in a phase we call 'Big BUMP.. Thls unique project, that has never been altempled before al this scale in this depth, is core lo our ambition,. lo enable clinicians and scientists to gel the full pictuie of the process of labour, and help find the interventions we need to prevent pre-term blrth. This will be achieved by using stale-ol-lhe-art molecular techniques to an81yse the cells 8nd tissues donated by pregnant women. These methods can be used lo Identify changes in key molecules before and during labour, to decipher the mechanisms driving pre-term birth and uncover polentlal 18rgels for new interventions. The Borne Foundalion Page18

Trustees Report at31 March 2025 Our longer-lerm plan for BUMP is to also expand Ioc81 s8mple collection cenlres to locations across the UK and the world, to reciuil donors from a more diverse background, and from different COLJntries where the c8uses of pre-term birth may clilfer from the UK. This will allow researchers lo extend the scope ol theirwork lo accelerate discoveries in ways th81 are simplynol possible currenily, and lolesl preventative interventions in diffeient settlngs, to make sure they are appropriate and effective for mothers worldwide. Followinglosl years appointment of our new Ch8ir of our Scientific Advisory Board, Plofessor Lucilla Poslon, we have been recruiting new members who ale now defining our research prioilties going forward. We are delighted lo have been able to aiiract some of the worlds leading expeits and researchers to gulde what Borne does. This includes leaders in the field 3s we expand bolli our research and fundi8islng acllvltles Illto the USA. Professor Gordon Smith (Universily of Cambridge), Dr Lauren Richardson (University of Texas), Professor Sarah England (Washington University School of Medicine) and Professor Marian Kacerovgky (charles University in Praguel are ensuring Ihal all grant 8ppllcallons received ffleel our sclentllic mission. maintaining scientific excellence in everything Ihal we do. A fundamental goal al Borne Is to insplre collaboration by bringing together scientists 2nd medical teams from the fragmented field of pre-term birth research across the world. We will continue lo develop this by hosting our Borne Collaborative meetings on an annual basis. In addition, we were Pfoud lo support the latest PRE81C {Prelerm Blrth International Collaborative} global meeting in Prague, and will continue lo work with this leadlng grouptD advance scientific knowledgethrough open, equitable pailnerships dnd approaches. aving successfully achlcved 501 Icl3 tstalus for our new USA subsidiary, End following our launch event in San Francisco, we will ensure the conlinued expansion of Borne USA lo uppn up opporlunitics to grow our research, collaborate globally. and ultimately reduce premature birth rates worldwide. We will continue to build upon our hugety added value p8rlnerships with Action Medical Research IAbARI and the Meolical Research Council IMRCI, with guidance from ihe Associ81ion ol bAedscal Research Charities (AMRCI. And lastly, we will continue lo develop t81enl ancl build capacity by funding Clinical Research Training Fellowships (suppoitlng clinicians lo undertake a PhD or oiher higher research degree). and through our Career Development Award (supporting talented posl-doctor81 researchers lo transition from post- docloral researcher to independent invesligalor). FINANCIAL REVIEW Flnan¢lg18urrmaryofthe year A summary Df the yearfs results cèn be found on page 19 of this report and accounts. During the ye8r ended 31 March 2025, we raised tol81 income of £1,664.321 12024 - e1,000,931). We received reslricled income lolalllng £403.492 (2024 - £3.OOD). Expenditure lotalled £1,227,242 (2024 - £1,154,686), of which £778,714 (2024 - £730,760) was spent on Charitable Activities, &pendllure utilising reslricled funds tolalled £101,760 (2024- £1,240). There has been a small increase in our overheads as a result of inflation, bul the charity has kept ils operating overheads in line with 2024 levels. See notes 5 and 6 of the aecounls. Nel income increased the charitys reserves by £437,07912024 - nel expenditure £153,755), enabling us to continue lo build ihe reserves designated for Big BUMP and ensure we slarl our Ljpcoming ambitious nd multi-million fundraising campaign Big BUMP with lusl under £1 m already secured. The Borne Foundatio Pageig

Trustees Report at 31 March 2025 The balance sheet shows total reserves of £2,139,718 (2024- £1.702,6391. £4.20812024- £4,342} relate lo fixed assets leaving a balance of E2,135,51012024 - £1,698,297), Of tliis £303,492 (2024 - £1,760) are ￿strIcted funds, and £1.563,01912024 - £1,381,944) has been designated by the trustees, reflecting the fact Ihal these funds are already spoken for and committed lo specific mulli-year projects and 8clivities, including g852.471 as an initial corntribution to Big BUMP. This le8ves free reserves al year end of £268,99g (2D24 £318,935), which gives us coverage of just under 1 year of running costs, enabling the charity to Invest In confidence in the future, as well as belng fully covered for ils contracted mulii-year research expenditure thanks to the designated funds we have set aside. Our next ch311enge land opporlunilyl will be woiking with ourexisling and new supporleis to raise money to be able lo launch wilh confidence Big BUMP during ihe first half of 2026- and. dependent on the scale and scope of 8ig 8UMP, Ihis will be a £1 Om+ multi ye8r funding effort over the next 2-3 years. GTont makjng pollcy As a member of the Association of Nledical Research Charities IAMRCI, Borne follows their guidelines for best practice in peer review. Grants are awarded on scientific merit in relalion lo Bornes research strategy and on the basis of open competition. The quality of the applicalion and applicants Is the key deterrninanl of outcome. Borne funds research projects in theirent1￿ty, and alsoconiributes pari-fundillulo projects In p8rlnership with others. We fund through a competitive process.. • The core salary costs of scientists and clinicians that lead the research originating from a UK research institution. + Technical staff and research midwives involved with clinlc?I work and sample collection and processing • Postgraduate studentships, fellowships and lectureships + Laboratory consumables end equlpmenl that are required to conduct the research studies Applicallons for funding are reviewed by Borne's Scienllfic Advlsory Board ISAB) who also consult extern81 expert peer reviewers. The SAB provide comment lo the Borne Board twice a year on funcling recommendallons and Borne-funded researchers, ability lo deliver ils scientific mission and malnlain scientific excellence. Borne co-fund8 up lo £500,000 of independent research piojects on a 50..50 basis with Acllon Medlcal Research (AMR) into the causes 8nd prevention of prelerm birth. ANAR'S Scientific Advisory Panel will ensure an open, trangparenl, independent and impar1181 review of grant applications for funding. Borne also has an agfeemenl to co-fund Clinical ReSe8￿h Training Fellowships and a Career Oevelopment Award fora postdoctoral scientist in our chosen area of interest through the UKRI s Medical Research Council, who will ensure the fellowships are awarded in open competition to a high standard. The Borne Foundalion Page110

Tiustees Report at 31 March 2025 Reserves poll The board Is committed to ensuring a sound financial base for Borne's work and aetivities. Borne's ieserves policy is set wilh reference to Charity Commission guidelines lo ensure resilience in managing through reasonable levels of rlsk and fund unforeseen but necessary expenditure while maximising the flow of donated funds to research. 8orne's funding is diverslfied across a portfollo of supporters. from individuals to companies 2nd trusts ancl foundaliorns. The Board has determined that as a maller of policy, free reserves lo meet an unexpected call for funds wi11 continue lo be set at 6 months of operating expenditure for the charity. Borne will contlnue Its provislon to meet grant commitments for 12 months. The provlsion for joint funding wilh Action Medical Rese8rch and the Meclical Research Councll wlll be taken when the beneficiaries for each gr8rn1 rouncl are approved. After taking inlo account our reserves policy és summarised above, 8orne is within the Boards lafoel range for the year. Unrestricted funds, after fixed assets are El,832,018 (2024 - £1,696,537), and the trustces have designated funds of £1,563,01912024- £1,381,944) lo meet committed grant expenditure from 2027 10 2028. This leaves free reserves of £268,999 (2024- £314,5g31. whlch include £200,000 sel aside for contingencles (6 months of Dperallng expenditure). Rlsk management The charills main areas of polentlal Ilsk as idenllFied have been assessed considering the current challeiiging economic climale following Ihe longer-lerm repercussions of the pandemic. global conflicts and cost of living pressurcs. These are rlsks that we have in common with other organisations, bolh withln and beyond the charity sector. 'I'hey include.. • Cashflow sensitivity which is addressed through Borne's reserves policy and close management of financial flows, significant mulli-year donor relationships, as well as the disciplined monitoring of grant commilments. • Compli8nce with data prole.plinn regiilalion (GDPRI with rcgards lo fundraising and donor comrnunication by revising and documenting our policles and procedures as a data controller as well as maintaining è GDPR-complianl CRM platform for the charlly. + Ensuring donor 8Ctivities, business dealings and reputatltsn do not adversely Impact Borne's reputation by 2clivallng Know-YoLJr-Donor IKYD} and anli-money laundering checks for prospective new donors while maintaining oversight of the 3clivilies of all related paities. • Loss of business continuity due to an IT or cyber securbty breach, the risk of which I mitigated In consultation with out outsourced IT suptK)rt provider, Chalkline. • Repulatlonal risk based on the scientific integrity and impact of the research that is funded. Thls is addressed by the Scientific Advisory Soards independent and critical evaluation of the researchers, ability to deliver ils scientific mission and maintain scientific excellence, answerable to Borne's Board of Trustees. Borne's risk management assessment and risk reglster are reviewed with the Finance and Rlsk Commltlee twice a year, 2nd aetions recorded aceordlngly. The 8orne Foundallon Pagel11

Trustees Report at 31 March 2025 Fln8nc181 contrds revlew The Iruslees report Ih8t the charitys Internal finaneiel controls conform to guidelines Issues by Ihe Chaiily Conimission. The systems of financial control are designed lo provide 211 reasonable bul not absolute assurance against misslalement or loss. They include an annual budget approved by the Irustees., regular consideralian of 2ctu31 financial results compared with the budget al quarterly Board meetings,. the 8uthorily to spend within defined limits., the consideration of risks by Iruslees and the Cl)ief Operètlng Officer of Ihe charily, and the segiegalion of duties lo Ihe exlenl possible across the different functions within the Charity. STRUCTURB GOVERNANCE AND MANAGEMENT The Borlle Foundatlon IBorne) is 8 charitable company limited by guarantee Incorporeted on 22 September 2015 and registered as a charity on 12 May 2016. The objects and powers of the charitable company are sel out in, and governed by, ils Articles of Associ81ion. Borne is governed by 8 Board of Directors. the members of which are also the trustees of the charity for the purposes of charity law, which meets at least four times a year. The Board sets the strategic g031s of Borne. reviews the pursvil of charitable objectives, establishes policy and procedures, monitors financial stalus with fiscal oversight, ensures Compliance with leg21 requlremenls and both enh8nces and protects the reputation of the organisatlon as ambassadors and advocates. Borne's Chief Executive Officer and Chief Scientific Officer are jointly responsible for the research priorities, financial health and resource management of Borne accountable lo the Chair ol the Board. The CEO ensures operational and project delivery lo the highest slandards in Ilne with Ihe charitys values Ènd mission. She is also responsible for coordin81ing 8 proactwe programme of income generation, managing fundraising, donor relationships and overseeing associated donor stewardship programmes as Borrie charts 8 course for growth. DlrectotsThrustees The d1￿Clors1trUSIees who served during the period were as follows.. Trustse8 A olntedlRe81 ned J R H Mylchreesl Lady P Cadogan R Cope R Jafar Prof, M Johnson Prof. T T Mactk)nald C L Moflal Prof. L Poslon HMPye F P V d'Archirafi Appointed l Olh October 2024 Appointed i oth October 2024 Appointed 4th July 2024 Resigned 16th May 2024 Appointed 16th May 2024 The Borne Foundation Pagel 12

Trustees Report at 31 March 2025 Appolntment of trustees New trustees are identified and nominated by existing trustees. They are selected by majority vole. To be considered for information, prospective Iruslees must confirm that they will accept the expect8tions of the role which. in addilion to statutory criteria, ir)¢lude actively participating in at least one fundraising event a year and servinu on at le8s1 one committee or workino oroup. Inductlon of newtrustees All new trustees will be required lo complete Companies House documentation, a Declaration of Interests to identify potential conflicts of Interest and confirm Ihey are eligible lo act per the Qualifications under the Charities Act. The directors conslder that Board of trustees, Ihe Chief Executive Officer and the Chief Sclenlific Officer comprise the key rndnagemenl personnel in charge of directing and controlllng, running and operating the eharily on a day-to-ciay basis. Remuneratlon of key managemenl personnel All Irusteeg Énd the founder I Chief Scientific Officer give their lime freely and no remuneratlon was paid in the year. l olher key management personnel, Iiicluding the CEO, have their remuneration reiaewed annually 8nd adjusted in 8ccord8nce with performance and eamings. In view of the nature of the charlly, the Ifustees benohmark against pay levels in other charities with a simllar profile. The remuneration benchmark in the range paid for similar roles. AudKors After the yearend, Barncs Roffe LLP resigned as 8udilors due to the transfer of ils audit business, and Its successor t3arnes Roffe Audit Limited was appolnted by the trustees under g485 Companies Act ?006. STATEMENTOFTRUSTEES RESPONSIBILITIES The trustees are responsible for p￿parIng the trustees, reporl and the financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Gener811y Accepted Accounting Praclicel. The18w applic8ble to charities in England and Wales requires the Iruslees to prepare financi21 slalements for each firlancial year which give a Iiue and fair vlew of the slate of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these fin8ncial statements. the Irustees are required 10.. + Select sultable accounting policies and then apply ihem cor)sistently', • Observe the methods anol principles in Accounllng Reporting by Charities-. Statement of Recommended Pracllce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and republic of Ireland IFRS 1021., • M8kelLrdgernentS 2nd estimates that are reasonable and prudent,. The Borne Foundation Page113

Trustees Report at 31 March 2025 + State whether appllcable United Kingdom Accounting Standards h8ve been followed, subject lo any malerlal depariures disclosed and expleined in the financial stalemenls.. and .+ Prepaiethe financial statementgon Ihegoing concern basis unless it is inapproprlateto presume that the company wlll continue in operation. The Irustees are responslble for keeping proper accountlng records that disclose with reasonable accuracy at any time the financial position of the charitable compariy and enable them lo ensure Ihat the financial statements comply wilh the Companies Act 2006. They 8re also responsible for s8feguarding the assets of the company and the group 8nd hence for taking reasonable steps lor the prevenlion and detection of fraud and other i(regul8ritles. Each of Ihe Iruslees confirm th81'. * So far as the truslee is aware, there is no relevant audit infor￿allon of which the company's audltor is un8W8re,' end • The twstee has tsken 811 Ihe sleps that he/she oughi to havelakern as a director in order lo make himselflherself 8W8re of any relevant 8udit information and to est8bllsh thal the company's euditor is aware of th81 information. This confirmation is given and should be interpreted In accordance with the piovlsions of $418 of the Companies Act 2006. Approved by the Dlreclors and signed In their behalf by J R H Mylchreest Chairman of the B08rd ofTrustees JLI The Borne Foundallon Page114

Independent Audltor's Report al 31 March 2025 IndependentAudltorfs report to the members of the Borne Found8tlon We have auditecl the financial statements of The Borne Foundation Ithe'charitable companll forthe year ended 31 March 2025 which comprise the St81emenl of FlnanciÈl Activities, the Balance Sheet and notes lo the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standards, includiw Financial Reporting Sl8nd2rd 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Uniled K¢ngdom Gener211y Accepted Accountlng Practice). In our opinion Ihe financial slalements.. Give a trtje and falr view of the stste of the charitable compan518 affairs as at 31 March 2025. and ol its incoming resources and application of resoLJrces, including ils income and expenditure, for the ye8rlhen ended,. Have been properlyprepafed in accordaneewith United Kingdom Generally Accepted Accounting Practice., 3nd Have been prepared in accordance with the requirements of the Companies Act 20J6. Basls foroplnlon We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS (UK) and appllcable 18w. Our responsibilities under those standards are further described in the Auditors responbibililies lor the audit of the fina[￿181 statements section of our report. We are independent of the chaiitable company in 2ccoid2nce wilh Ihp ethical requirements that are relevant to our audit of the financial slalemenls In the UK. Including the FRCS Ethical Sland8rd, and we have fullilled ouroiherethical respornsibililies in acLord(Ince with these requlremenls. We believe that the audit evidence we have obi8ined is sufficlent and appropriate lo provide a basis for our opinion. Conoluslon8 relatlng to golng concern In audlling the fin8ncial slalemenls, we have concluded that the trustees, use of the going concern b8sis of accounting in the preparation of the financlal statements Is appropriale. Based on the workwe have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may c8St siunificant doubt on Ihe charitable comp8nls ability to continue as a going concern for a peri(￿ of at least twelve months from when the financlel statements are authoiised for issue. Our responslbilities and the responsibilities of the trustees with respect lo going concern 8re described in the relevant secllons of this ieporl. other Informat The other informallon comprises the inform8lion included in the trustees, annual report, other thèn the financial statements and our auditors report thereon. The trustees are responsible for the other information conlained wllhln the annual report. Our oplnlon on the financial stalements does not cover the other information and, exeepl to the extent otherwise explicitly slated in our repoit, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the oiherinformalion and, in doing so. consider whether the other informallon is m8teri811y inconsislenl wllh the financial slÈtemenls, or our knowledge obtained in the course of the audit or otherwise appears lo be materially misstated. The Borne Foundation Page115

Independenl Audltorfs Report at 81 March 2025 If we identify Slrch malerial inconsistencies or apparent materi81 mlsslalements, we are required to determine whether this gives rise lo a materlal rllisstèlement in the financi81 statements themselves. If, based on the work we h8ve performed, we conclude that there Is a materi81 misstatement of this other inforrnalion, we are iequired to report that fact. We have nolhlng to report In this regard. Oplnlons on other matters prescrlbed bythe Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit.. The infomialion given in the trustees, report for the financial year for which the financl81 statements are prepared is conslstenl with the fin8ncial slatemenls,. and The trustees. report has been preparecl in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of Ihe charitable company and ils environment obtained in the course Df the audit, we have not identified material misslalements in the trustees, report. We have nothing lo report in respect of the following matters in relation to which the Companles Act 2006 requlres us lo repDrl lo you if, in our (Ipinion,. Adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us., or The financial slalements are not in agreement with ihe accounting recorcls and returns.. or Certain disclosures of trustees, remuneration speeified by law are i)ol made.. or We have not received all the Information and explanations we require for our audit., or The trustees were not entitled to prepare the financ.ial slalempnts in accordance with the small companies. regime and lake advantaoe of the small companies, exemptions In preparing the trustees, report and from the requirement to prepare a strategic report. Re8pon8lbllMles of trustees As explaiiTrecl more fully in the trustees, responsibilities statement. the trustees (who are also the directors of the charitable company for the purposes ol company law) ale responsible for the preparation of the financi81 slalements and for being sèlisfied that Iheygive 8 true 8nd fairvlew, and forsuch internal control as the Iruslees deteymlne Is necessary lo enable the preparation of financlal statements that are free from material rnlsstalement, whether due to fraud or error. In preparing the financial stalemenls, Ihetruslees are responslble forassesslng the charitable cornpanys abllity lo continue as a going concern, disclosing, as applicable, mallers related lo golng concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charilable company or to cease operations, or have no realistic allernallve bLJt lo do so. The Borne Foundation Page116

Independent Audltorfs Report at 31 March 2025 AUd￿OrS, responslbllllle8 forthe audlt of thefinenclal st8tements Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material misstalement, whether due lo fraud or error, and lo issue an auditors report that includes our oplnlon. Re8sonable assurance is a hlgh level of assurance, bul is nol a gu3rantee that an audit conducted In accordance with ISAS (UK) will always detect a material misstatement when il exists. Ivlisslatemenls can arise frorn ffaLJd or error and are considered m8lerial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalemenls, Iriegularilies, including fraud. are instance8 of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined 2bove. lo delecl material missl8lements in respect of Irregularities, including fraud. The extent lowhich ourprwedures are capable of delecling irregularilles, including fraud Is detailed below.. The engagement partner ensures thal the engagement team collectively have the Bppropriate Competence, capabilities and skills lo identify or recognlse non-compliance with applicable laws and regulations,. We identify the laws and regulations appli¢able lo the charitable company Ihrough dlscus5ion wilh Iruslees and other management and from our knowledge and experience of the sector that the charitable company operates in,. We focus on specific lawg Èhd regulations which we consider may have a direct material effect on the financial statements or the opeialions of the charitable company, including the Companies Act 2006 and charity focused accreditations such as AMRC, Nation81 Institute of Health Research and Pregnancy and Babies Charity Network-, We assess the exlenl of compliance with the laws and regulations identified above through making enquiiies of managemenL reviewing boarcl minutes. relevant correspondence and certificates held- and Laws and regulations are communicated within the audit team at the planning meeting. 3nd during ihe audit 8s any further laws and regulatlon are identified. The audit te2m remain alert lo Instances of non-compliance throughout the audit. We asses5 Ihe susceplibilily of the charitable companys financial slalements to material misstalemenl, infjluding obtaining an understanding of how fraud might occur by. Making enquiiies of management and the Board 89 to Whe￿ they consider there was susceplibilily lo fraud along with their knowledge ol aclu81, suspected and alleged fraud,. CDn5iderlng the internal controls in place lo millgale risks of fraud and nonrornpli8ncewilh laws and regulations,. and Our revlew of financi21 slalements and testing the disclosu￿8 againsl supporllng documenlalS0n. To address the risk of fraud through management bias and override of controls we.. Perform analytical procedures lo identify any unusual or unexpected trends or anomalies- Inspect and test journal entries to idenlify unusual or unexpected transactions., The Borne Foundatlon Page l 17

Independent Audlto¢s Report at 31 March 2025 Assess whether judgement and assumptions made in determining significant accounting estimates, Includlng the probabililyof receipt of income from don8tions pledged bul not received, are indicative of management blas,. and Investig8te the rationale behind significant transactions. or Ir8nsaclions that are unusual or outside the charitable companys usual course of buslness. Because of the inherent limltalions of an audit, there is 2 risk that we will not detect 811 irregularities, including those leading lo a material misstatement in the financi81 slalemenls or non-compliance with regulatlon. This risk increases the more that compli8nce with a law or regulation Is removed from the events and transacllons reflected in the financial slalemenls, as we will be less likely to become aware of instances of non-compliance. The risk is also grealer regaiding irregularities occurring due lo freud rather than error, as fr8lld involves inlentional concealment, forgery. collusion, omisslon or misrepresent8tion, A further description of our respongibililies for the aucfil of the financi81 statemenls is located on ihe Financial Reporting Councils website at.. www.frc.org.uk/auclitorsresponsibilllies. This description forms part of our audllors report. Use of our report Thls report Is made solely lo the ch8ri13ble companys trustees, as a body, in accordance wlth Part 4 of the e.harilies (Accaunts and Reports) Regulations 2008. Our aLJdit work lias been undertaken so that we might slate lo the charitable companys Iruslees those matters we are required lo state to them in an auditors report and for no other purpose, To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company alld the charitable companqs tru esas ody. for our audit work. for this report, or for the opinions we have formed. Ben Brgdl Senlorstatutory Audltor) For and on behalf of 88mes Roffe Audlt Llmlted chartered Accountants and S181ulory Auditors Charles Lake House claire Causeway Crossways Buginess Park Darlford. Kent DA2 6QA 08te'. The Boine Foundatio Page118

Statement of Financlal Actlvities (Incorporating an Income and Expenditure Account) for the year endlng 31 March 2025 Yearended 31 Mar¢h Lhieslricled 2026 funds Year ended 31 March 2024 Unresmoted fvnd$ Restthted fund$ Rest￿cted lund5 Incorneandexpendtture Income from.. Don8llans 506,465 403.492 909.957 667.129 3MQO 670,129 679,694 679.694 262,553 262.553 InveyttrEDI IncomÈ 74,670 74fi70 1,664A21 68.249 68.24g Total IrKoMè 1,260.829 403,492 997.931 3,000 7￿00,987 Expendtturei)rn Ralslno funds 446.768 1,760 448,528 422,686 1,24D 423.g26 678,714 1c0￿00 778,714 730,760 730,760 Totslexpendlture 1,125,482 101,760 1,227,242 1,153,446 1.240 1.154,686 Net IncomE lexppn(Ilure) and Mt mtsvemeTht In funds 185.347 301.732 437,079 1155,5151 1,760 1153,7551 Transfer be￿È¢nfU￿dS Re¢on211￿lknTrof tund8.' B8L8nces broughi lorw8id et l April 2024 1,7W079 1,76D 1,70Z639 1.856.394 1,856,394 Funds balances carrfed forward 8t31 M8rch 2026 1036,226 303,492 1189,718 1,70D.B79 1,760 1,702,639 All of the above results are derived from conlilluing activities. All recognisecl gains and losses are included in the above slaternenl of financial acliwlies. The Borne Foundatio Page119

8alance Sheet at 31 March 2025 Notes 2025 2024 Fixed Assets 10 4,208 4,342 Current asset8 Debtors.. amounts falllno due afterone yeai Debtors,, amounts ftlling due wlihln one year Investments 150.IXJO 127.000 518,137 536.201 698,602 595,000 1.846.081 Cash at bank and In hand 1,03B,241 3,009.188 3,104.282 Liabllities Credilors.. amounts falllno due wllhln one year (869A711 1139,718 11,405,985) 1.698,297 Net current 8$sel& Total nel assets 2739,718 1,702,639 The funds of the charity. Restrlcted funds 303,492 1,760 Unreslrlcted funds.. Designated funds -Big BUMP Project -(Xher Grants 852.471 500,000 710.548 881.944 1,503,019 1,381,944 General funds 273,2Q7 318,935 2.139.718 1.702,639 Approved by the trustees and signed on thelr behalf.. JL104 J R H Mylchreest Chairman of the Board of Trustees Cornpeny Registiatlon Nuffthn. 09788584 IEng18nd and Wale$l The Borne Found8lion Page120

statement of Cash Flows for the year endlng 31 March 2025 Yearended 81 M8r2025 Year ended 31 Mar 2024 Notes Cash flowsfrom operallng 8ctfvttles.' Net cash used in by operating activities Net cash used In by Investing aclivilies Ch8ng8 In cash and c8$h equfvalents IAthe year (177,163) 0,6 {207,840) (78,9391 105,448 1184,387} Cash and cash equfvalentg at beolnnlng of th8yeaT 1,846M81 2,030,468 Cash and cash uIv8lents at 81 March 2025 1,638241 1,846,081 Notes lo the staiementof ca8hllow8 fortheye8r1031 March 2025. Reconclllatlon of net movement In fund8to n81 cash provkled byoperallng a¢tlvltles Yearended 81 Mar 2025 Year ended 31 hA8r 2024 Netmovement In funds {as perihesiatement of fin8ncl81 actfvitle8) Adlu81ments for. Ilncreasel/Decre8se in debtors IDecrease)/lncrea5e in creditors Oepreci8tlon Investment income 4S7,079 1153,755) {4,936) (536,518) 1077 (74670) g9,027 42,757 1,287 168,249} Netca8h used In actMtle8 177.163 8.939 Ca8h fbws from kwestlng 8¢xMtles Yearended 81 Mar2025 Year ended 31 Mar 2024 Purchase of fixed assets Purchase of current asset investments Bank inlerest recelved (1.743) {108,604) 74fi70 14,303) 1169,394) 68,249 Totsl cash flows from Investln actI￿e8 80 (105,448) An8ly818 of oash gnd oa$hequEvalents YeaT e￿Ied 31 Mer2025 Yearended 31 Mèr 2024 Cash al bank and In haNI 1,638,241 1,846,081 Tc481 cash and cash ulvalents 1638,241 1,846,081 The Borne Foundation Page121

Prlnclpal Accounting Pollcles al 31 March 2025 The principal acwunllng policies adopled,judgemenls and key sources of estimatio¢) Un￿rIal￿tY In the preparation of the accounts are13id out below. Basls of preparatlon These financial slalemenls have been prepared for the year ended 31 March 2025. Comparative information is provided for the year ended 31 March 2024. The financial statements have been prepared under the historie21 cost convention with items recogni2ed al cost or118risactioriv8lue unless otherwise slated in the relevant accounllng policies below or the notes to Ihese financlal statements. The financial statements have been prepared in ac¢ordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ch8rilies preparing their accounts In accordance with the Financial Reporlino Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 1021 issued In October 2019, Ihe Financial Reporting Standard applicable in the UK 8nd Republic of Ireland (FRS 10218nd the Companies Act 2006. The charity constitutes a public benefit enlily as defined by FRS 102. The financial statements are presented in slerllng and are rounded to the ne8resl pound. Crltlcal Èceountlng estlmates and areas of judgement Preparation of the financi81 statements requires the Iruslees 2nd m8n8gement lo make signlficant judgements and eslimales. The Items in the financial statements where Ihesejudgernenlg and estimate8 have been made inclLJde'. + Assesslng the probability of receipt of income from fundraising events and donations pledged but not received,. + Allocation of SUPFX)rt and governance costs-. + Grant commltments payable in the financial ye8r.' • Estimation of the value of donated gifts and sernfjces in kind,. and • Assessing depreciation rates. Assessment of golng conwn The trustees have assessed the appropriate use of the golng concern assumptions in preparing these financ181 slatemenls. The Iruslees have made this assessment in respect lo a period of olle year from the dale of approval of these financlal statements. The Irustees have reviewed the Charitys cashflow and reserves position in ielalion lo research commitments and operatlng overheads. Assumlng a worsl-case scenario ol the chaiity still being reslricled on cerlaln fundraising activities, there are sufficient reserves lo meet all oulstandlng research commitmenls, and the charltls operalino overheads for at least 6 months as al July 2025. The Borne FoLJndalion Page | 22

Prlnclpal A¢counting Pollcies at 31 March 2025 The trustees, view is the charity has a strong, purposeful case for support. ambitious p18ns lo eng89e more broadly with the scientific community in Ihls field, and the intention to eonlinue to build in more resilience to the fundraislng model. They are con15denl that Borne are In a good position to eonllnue lo weaiherihis period of fundraising 8nd economic uncertainty in the short and medium term. On this basis, the accounts have been prepared on a golng concern basis. Income recognltlon Income is recognised in the period in which ihe charity has enlitlemenl of the income, the amount of income can be measured reliably, and it is probable that the income will be received. Income received byway of donations and gifts to the charity is included In full in the slatemenl of financial activities when receivable. Donations are recognised when the charily h8s confirmation of boih the amount and settlement date. In the event of donations pledged but not received, Ihe amounl Is 2ccrued for where the receipt Is consldered probable. In the event that a donatlon is subject to conditions that requiie a level of performance before, the charity is enlitled lo the funds, the incomels deferred and not recognised until either those conditions are fLTrlly mel, or the fuifilmenl of those condllions will be fulfilled in the reporting period. Donations from Foundation Donors are recognised once the donor has signed an agreement to fund the charity (usually over a period of three years) and il is prob3ble that economic benefit will pass to the charity. Gift Aid receivable Is Included in income when there is 8 valid declaration from the donor. Any Gift Aid 8mounl recovered on a donatlDn is considered lo be parl of that gift and Is treated Js an addition to the same fund as Il)e initial donation unless the donor of the teims of the appeal have speclfied otherwise. Income from fundraising events Is aceounled for when enlillemenl hes been satisfied, usu?Ily once event has taken place. Donated services and facilities provided lo the charity are recognised the period when it is probable that the economic benefits wlll flowto the charity, provided theycan be measured reliably. This is normally when the .£ervice is provided. An equivalent amount is included as expendilure. Donated services and facilities are recognised on the basis of the valLJe of the gifi to the charitywhlch is the amount the charity would have been willing to pay to obtain facilities or services of equDialent economic benefits on Ihe open market. Inlerebl on funds held Dn deposit is included when receivable and the amount can be measured rellably by the charity,. thls Is normally upon notification of the inleresl paid or payable by the bank. In line with Charities SORP FRS 102 volunteer time is not recognised and accounted for. Resources expended Liabilities are recognised as expendilure a8 soon as there Is legal or constructive obllgation commilling the charity to make a payment lo 2 third party, il is probable th81 a transfer of economic benefits will be requirecl in settlement and the amount of the obligations can be measured rellably. All expenditure is accounted for on an accrual b2SIS. All expendiiLJre Is slated inclusive of VAT. The Borne Foundation Page | 23

Prlnclpal Accounting Polloles at 31 March 2025 Expenditure comprises direct and support costs. All expenses, including support costs, are allocatecl or apportioned to the 8pplie8ble expenditure headings. The classification between aclivllies is as follows., • Expenditure on raising funds inclydes all expenditure associated with raising funds for the charity. This ineludes the costs of fundraising events, staff costs assccialed with fundraising and al allocallon of support costs. • Expenditure on aharilable aclivities Includes all costs associated with furthering the charitable purposes of the charlly Ihrough the provision of Its chari18ble activities. Such costs include charitable grants, research expenditure and an alloealion of support costs. Grants Payable are charges to Ihe statement of financial aclivilies in the year in which they are approved for payment and provislon Is made for grants agreed anol approved bLJI unpaid al the year end. SLJpport costs include governance costs and other support. Governance costs comprise all costs involving publlc aceounlability of the charity and its compl58nce with regulation and good practlce. Support costs include central functions and have been allocated on the basis of time spent on the 8Ctivities. Tenglble fixed assets Items of equlpment are capit81isecl where the puichase price exceeds £250 including irieeoverable VAT. Depreciation is provided al rates cal¢ul8led lo write down the cost of each assel lo its estimated residual value over Ils expected useful life. The depreci81ion rates in use are as follows.. + Computer equipment 4 years + Fixtures and fillings 4 years Oepreclatlon costs are allocated lo activities on the basis of the use of the related assets In those 8clivilles. Assets are reviewed for impairment If circiJm8lances indicate their carrying value may exceed their nel realisable value orvalue in use. Debtors Debtors are recognised al thelr seiilemenl amount. less any provision for non.recoverebilily. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such dlscounting is material. Cuirent asset Inve8tments Current asset investments represent bank deposit accounts and instruments that are not available on demand and have a malurily of more than three morslhs from the d81e of acquisilion. Cash at bank 8r¥J In hand Cash at bank and in hand represenls such amovnls 2nd instruments Ihal are available on demand or have a m8turlly of less than three months from the dale of acquisition. The Borne Foundation Page | 24

Prlnclpal Accountlng Pollcles al 31 March 2025 Credltors and provl8lons Creditors and provisions are recognised when there is an obligation al Ihe ba18nce sheet dale as a result of a past event, il is probable that a Iransler of e¢orK)mic benefit wlll be required in settlement, and the amount of the settlement can be eslirnaled reliably. Creditors and provisions are recognised at the amount the charity anticipates il will pay lo sellle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Leases Rentals payable under operating leases, where substantially all the risks and rewaids of ownership remain with the lessoi. are charged lo the statement of financial activities over the life of the lease using the slraighl-line basis. Penslon 8cheme Contrlbutlons in respect ol the charitys defined contribution scheme are charged to the statetnenl of financlal aclivtlies when they are pay8ble lo the scheme, Fund ac¢ountlng Reslricled funds are lo be used for specified puiposes as laid down by ihe donor. Expenditure which meets these criteria is iclentified to the fund. Unieslricled funds are donations ancl other income received or generated for the charitable purposes. Designated funds are unreslricled funds earmarked by the Iruslees lor particular purposes. The Borne Foundation Page | 25

Notes to the Flnanclal Statements at 31 March 2025 Income from don8tlons 2025 Total Unreslrieled Restricted Trusts and Foundations Corporate donations Individual don8lions Gifts and services In kind 60,000 8.115 438.350 300,000 360,Ot)) 8,115 541.842 103,4g2 2025 totel funds 5Q6,465 403,4g2 909,957 2024 Total Unrestricted Reslrleled Trusts Found8llons Corpor21e donalions Individu21 donations Gifts and Se￿IceS in kind 763.750 12.448 490,937 163,750 75,445 490,931 3,OOg 2024 lolal funds 667,729 3.000 670,129 Income from othertradlng actlvttle8 2025 Total Unrestricted Restricted Fundraising events 679,694 679.694 2025totsl fund8 679.694 679.694 2024 Total Unreslricled Restricted Funrlrais1r￿ events 262,553 262,553 2024 lotal funds 262,553 262,553 The Borne Foundation Page126

Notes to the Fln8n¢lal Slatements at 31 March 2025 Income from Investment acltvttles 2025 Total Unreslricled Reslilcted Bank inteiesl received 74,670 74,670 2025 total funds 74,670 74,670 2024 Total Unreslricled Restricted Bank interest recelved 68,249 68,249 2024 10181 funds 68,249 66,249 Expendlture on ralslng funds 2025 Totsl Unrestricted Restricted Cost of fundraising events Suppofl coslq (note 6) staff costs Inole 8) 275,801 48,78D 122,187 275001 50,540 121187 1,760 2025 total funds 446,768 1,760 M8,528 2024 Total Unrestricted Restricled Cosl of fundraising events Support costs (note 6) Sl8ff costs (note S) yg4,987 62,970 764,789 794,987 64,750 764,789 1,240 2024 lolal funds 422,686 1,240 423,926 The Borne Foundation Page127

Notes to the Flnancial Slatements at 31 March 2025 Expendlture on charltsble actlvltles 2025 Total Unrestricted Reslricleé stslf costs Inote 81 Research expenditure.. Imperial College grants Kiw s College gr8nls Medlcal Research Council grants Action Medical Research giants University College London General ReseÈrch Support costs {note 61 201,604 201.604 21.523 25,000 47,648 213,412 50.000 71,523 25,000 47,648 218A12 50,000 24,466 14&061 50.000 24,466 14S,061 2025 totsl fund8 678,714 100,000 778,714 2Q24 Total Unreslriclecl RestriGled staff costs (note 8) Reseaich expenditure.. Imperial College granls Kings College gr&nls Queen Mary University London granls Medical Research Council grants Action Medical Research grants General Research Support costs (ftole 6) 730,830 130,830 229.905 94,573 70,477 46,670 12Z132 47,750 48,003 229,905 94,573 10,477 46,670 Y22,732 47,750 48,OQ3 2024 lolal funds 730,760 730.760 The Borne Foundation Page | 28

Notes to the Financlal Statements 8131 March 2025 Support cosls Expenditure on Ralsing Funds Charitable Activities 2025 Tot81 Recluilmenl costs and staff development General 3dminislrative expenses Marketing and publicity expenses Website & digilal expenses Fundraising expenses Profegsional fees Office rental Consultancy Pension fees Governance costs.. Auditors remuneration other 8,640 9,263 4,001 5,475 1,884 9,734 20,777 7.789 10,656 18,374 30,040 11,790 16,131 1,884 1,755 13,000 92,819 192 1,755 8.588 76,019 127 4,412 16,800 65 9,582 34 9,582 34 2025total funds 50,540 145,061 195,607 Expenditure on Ralsing Eunds Charil8ble Activities 2024 Total RecKuilrnenl cost$ énd staff welfare Gener31adminislt8tive expenses Marketing andpublicltyexpenses Websile & digital expenses Fundraising expenses Professional fees Office rent81 Consultancy Pension fees Governance costs." Auditors remuneration Olher 6,760 70,066 4,502 848 2,095 360 7,g94 7.120 78.060 4.502 7.527 2.095 4.308 72,000 53,432 792 673 4,308 5,371 20,350 84 6,089 33,082 708 8.910 73 8,970 13 2024 total funds $4,750 48,003 772,153 The Borne Foundation Page129

Notes to the Flnanclal Statements at 31 March 2025 Net Income before transfers This is staled 8fier chargitw.. 2025 2024 Auditors remuneration.. Audit for current year 9,582 8,910 9,582 8,910 Staff c¢)sts and numbers and remuneretlon of key management personnel Staff costs were as fDIIows', 2Q25 2024 Salaries and wages Staff benefits Social secLJrily costs Pension contributlons 278,559 155,295 1.043 22.777 16.504 27,208 14024 323.791 295.619 Durlng Ihe year, one employee earned between £go,000 and £I00,OOD 12024 no employee). No employee earned between £70,000 and f.80,000 (2024 one employee) and no employee earned between £60,000 and £70,000 (2024 - one employee). The average number of employees wes 8s follows,. Average 2025 Average 2024 Raising funds Chaiilable activities Central supporl 2.0 5.0 The key management personnel of the charity In charge of directing and controlling, runrbing and opei8tlng the charity on a day-lo-day basis comprise the Iiustees anci Ihe Chief Executive Officer. The total remuner81ion (including taxable benefits and employers national insurance) of the key man8gement personnel for the year was £128,047 {2024 £165,564). No trustees received any remuneration for thelr setvlces as a trustee. Expenses of £3,86412024 - £73) were reimbursed to the trustees, The Borne Found8tion Page | 30

Notes to the Flnancial Statements at 31 March 2025 Taxatlon The charity is exempt from corporatlon tax as all Its income is charitable and is applled for charitable purposes, 10. T8nglble fixed assets Office Equipment Total At 1 April 2024 Additions Disposals At 31 March 2025 8,665 1,743 (2,1061 8,302 8,665 1,743 2,106 8B02 Depreclatlon At 1 April 2024 Charge for the year Dispos8ls At 31 M&rch 2025 4,323 1,877 12,1061 4,094 4B23 1077 2,106 4094 Net bookvalue At 31 March 2024 4,342 4842 At 31 March 2025 4,208 4208 11. Debtors 2025 2024 other debtors Trade debiors Prepayments Accrued income 1000 147,730 22.401 496,006 2,000 23,890 637,311 668.137 663,201 The Borne Foundation Page131

Notes to the Flnan¢lal Slatements at 31 March 2025 Debtors (Contlnued) 2025 2024 Oue within one year Due after one year 518,137 150,000 536,201 127,C)00 668,137 663,201 The Charity is now processino Ils sales invoices via the accounting software. Debtors which might have previously been recognised in Acciued Income al the end of the year, are rK)w recognised as Trade Debtors. 12. Current agset Investments 2025 2024 Bank deposit accounts 698,602 595.000 698,602 595.000 18. Credltor$.' 8movnts falllng due wlthln oneyear 2025 2024 Tr2de Creditors Grants payable other credllors Accrued costs Deferred income 16,456 785,097 13,242 41676 11000 1,444 1,354,910 11,322 38,309 869fv71 1.405,985 The Borne Found31ion Page132

Noles to the Financlal Statements at 31 March 2025 13. Credltors.. amount$ falllng due whhln one year {Conllnued) Included in CTedilors for grants payable are amounts broken down by individual grantg as sel our below.. Accrual 8satl New Grant Expendiluie IAwards Totsl Cosis Pald 2024 2025 Name of Institu1￿n Pur se Imperial College Lecturer 8nd PhD studenishlp 95,B21 21.523 {117,344) Imperial College BUMP leasibilily study 472,898 1286.240} 186,658 Imperial College PROMPT project grant 111,391 113.4761 97,915 Imperial College Pilot grant 50,000 .acKJ Action Medical Research Research grants 156,896 213,412 1156,8961 213A12 King's College Project grant 19,405 25.000 44AOS King's College BUMP feasibility study 433,041 {349,355) 83,686 Queen Mary Unlversity Pilot grant 18,963 17A901 11g73 hledical Research Council CKtF grant 46,495 47,648 {46.4951 47,648 University College London Pilot grant 5D,000 50,000 1,354,910 407,5&3 1977.3961 78S097 Accrwl as8t7 Apri12023 New Grènt Expenditure /Awsrds Tolsl Accrual 2024 Costs Paid Name of Instilulbn Pur cise Imperi£l College Lecture and PhD slijdenlship 703,485 97.684 {705,348) 95,821 Imperialcollege Sludentshlp 20,154 R606) (23,548) Imperl6lCollege BUMP fe&sibility Study 486,569 72,482 (86,153) 4n,898 Jmperialcollege PROMPTprojeGt gt8nl 73,286 62,345 (24,240) 777,397 Acllon MedlcalResearch Research g￿nIS 72,723 722,732 (38.559) 156.896 Klngs College Project grant 24.256 79.405 (24,256) 79,405 Klngs College BUA4P leasibilitysludy 446,353 75,708 (88,420J 433,C141 Queen Mary Unfverslty Pilotgrant 39,583 10,47 7 (31,037J 7a963 Iklerlleèl Rese8rch Council CRTFgrant 45,254 46,617 (4&370) 4&495 1,317,668 504,178 466,93? 1,354.970 The 8orne Foundation Page133

Notes to the Flnancl81 Siatement8 at 31 March 2025 14. An8lysls of net assets between funds Restricted Funds Deslgnaled Funds General Funds Total Funds 2025 Fixed assÈls Nel currenl assets 4,208 268,999 4208 2,135,510 303,492 1,563.019 Net a$8el8 at the end of the ar 303,492 1,563,019 273,207 139.718 Reslricled Funds Designsled Funds Gener81 Funds Total Funds 2024 Fixedassels Nel currenl 8ssels 4.342 374,593 4.342 7.698,297 7,700 7,387.944 Net assets at the end ollhe ear 1,760 7,387,944 378,935 7,702,639 15. Restrfcted ￿￿18 Atl April 2024 At31 March 2025 Income Expendilure BGP Trade Limited The Big Give Christmas Ch811enge The Kidani Memoiial Tiust 1,760 (1,7601 1100.OWI I DS,492 300,000 3A92 300,000 Total restrfoted funds 1,760 402,492 {101,7601 303rt92 A17 April 2023 At37 arch 2024 Income Expenclilure BGP Trade Limited 3,000 (7,240) 1,760 Total restricted funds 7.240 T,760 The BGP Tr8de Limited donated £3,000 lo the charilyto fund the costs of producing a series of podcasts, 18unched in 2024. The Blo Give Christmas Challenge fund is the result of donations lolalling £103,492 received during the Christmas campaign, restriclecs lo fLJnd pilot grants awarded lo Dr Julla Zollner 8t University College London, and Stuart H8slam at Imperial College London. The Borne Foundation Page | 34

Notes to the Flnanclal Statements at 31 March 2025 The Kidani Memorial Trust 8w8rded the charity a total of £300,000 to fund Big BUhdP, the second phase of the Borne Uterine Mapping Project (BUMPI. 1& Deslgnated funds To allocate research grants ta the relevant bodies, Borne musl demonslrate that the fLJII research costs could be covered bylhe org3nlsalion. Our practice is lo hold in designated funds the amount needed to cover the full research grants awarded. The inlention is lo fundraise for the full amount with the designated reserves rolling over to the subsequent year to provide a foLJndatlon for continLJed neonatal research. The income funds of the charity include the following designated funcls whlch have been get 8side out of unreslricled funds by the trustees for specific purposes". A11 April 2J24 At31 March 2025 Design8ted in the yeai Utilised Imperi81 College London Action Medical Research Medical Research Courscil Big BUMP Project 21,660 437,630 422,648 500,000 (21,6601 1213,4121 (47,648) 111.324 335,548 375,000 851471 352,471 Tot81 de81 nated fund8 1,381,944 463,795 {282.720) 1,568,019 Ati Aprll 2023 Deg￿n￿led In IhÈyear Al 37 March 2024 Ulilised mperial College London Action Medical Research Kings College London Medical Research Council Queen Mary University BUMP Project 184,732 370,369 67,433 250,000 94,S73 3,750 (229,905) (122,733) (94,513) (46,670) (70,47 7) 27.660 437,636 465,508 10,417 500,000 422,648 500,000 Total desi naled funds 1,470,426 475,696 504,778 1,387.944 The Action Medlcal Research designated fund is for joint awards150..50} th81 have been committed lo organisalions between 2026 and 2027. At the year end, the charity agreed the granls payable lo Action ledical Research within the next year (note 131 bul has commitled to funci a furiher £335,548 of grants Iihls Includes £41,238 for Professor Shennan's study, £23,665 for ProfessorWaddinolon'8 study, £71,996 foi Professor Copp's study 8nd E73.649 for Piofessor Tribe'8 study) between 2026 and 2027. The Borne Founclation Page | 35

Nole$ to the Flnanclal Siatements at 31 Mard) 2025 A further £125,000 was deslgnaled In the year. following the renew81 of our agreement to collaborate on funding research identified through open competition peer review belween 2025 and 2026. £13,676 was released back to unreslricled resetves, In the year, the charilydesignatecl a further £352,4711o fund the next phase of the Borne LFlerine Mapping Project (BUMP), following the successful completion of ihe feasibility study phase in 2025. The £852,471 (exclLJdlng the £300,fflcI from the Kidani hAemorial Trust) secured to date will go towards the £3m or more ne￿ed lo be raised before the charity can fully commit lo the next phase of the project. 17. Deslgnated commftments In addition lo the grant credilors disclosed in note 13, the charity has the following grant commitments as at 31 March 2025 (from active 8wardsl'. 2025 2024 I￿perial College London Action Idedical Research Medic81 Research Council 21.660 187,636 47,648 210,548 Tolal commltments 210,548 256,944 Further details of these grant commitments are included in note 16. 18. An8tysls of movement between funds A11 Apiil 2024 At81 M8reh 2025 Income Expenditure Restricted funds Unrestricted funds 1,760 1,700,879 403,492 1,260,829 {101,760) 11,125,482) 303,492 1,836,226 Totsl fvnd8 1,702,639 1,664,321 11,227,242) 2,189,718 Atl April 2023 A137 March 2024 Income Expendilu Reslricled funds un￿gEricted funds 3.000 997.931 (7.240) (7.753.446) 7.760 1.700,879 7.856.394 Tol81 funds 7,856,394 7,000.g31 7.754,686 7,702,639 The Borne Foundation Page136

Notes to the Financlal Statement$ at 31 Mareh 2025 19. Related party tr8nsactlons During the year, Iluslees made donations under the terms of Foundation donor and other long-term ag￿eMentS of £135,000 (2024- £65,000), plus other donations and coniribuilons lo fundreising events totalling £153,81912024- £60,300). At the year end, theie were É170.ODO (2024 £305,DOO) in the cleblor ledger for multi-year gift commitments by trustees, ofwhich £170,000 (2024- £205,000) Is due wllhin one year and £Nil {2024- £1 00,OQOl is due alter one year. The 8oine Foundation Page137