REGISTERED CHARITY NUMBER: 1186748
REGISTERED COMPANY NUMBER: 11422323 (England and Vvales)
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024 FOR
NEOTREE
Juliette Tompson Accounting Limited
23 Prospect Street
Caversham
Reading RG4 &iB

NEOTREE
CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024
Report of the Trustees
3to12
Independent Examiners Report
13
Statement of Financial Activities
14
8alance Sheet
15to16
Notes to the Financial Statements
17to20
Detailed Statement of Financial Activitses 21

NEOTREE
REPORT OF THE TRUSTEES
For The Year Ended 30 June 2024
The trustees who are also directors of the charity for the purkx)ses of the Companies Act 2006, present their
report with the financial statements of the chanty for the period ending 30 June 2024. The trustees have
adopted the provisions of Accounting and Repotting by Charities: Statement of Recommended Practice
applicable to charrties preparing their accounts in accordan￿ with the Financial Reporb"ng Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
structure, governance and management
The charity 15 controlled by its goveming document, a deed of trus( and constbtutes a limited company,
limited by guarantee, as defined by the Companies Act 2￿6.
Reference and administrative detslls
Registered Company number.. 11422323 (EngIar￿ and Wales)
Registered Charity number: 1186748
Registered office
1 Blossom Yard
Fourth Floor
London
E16RS
Trustees
Yali Sassoon - Chair
Katherine Herzog Parsons - Treasurer
Dr Felicity Caroline Scarlet Fitzgerald
Prof Michelle Heys
Timothy Peter Catherall (Appointed 0411012024)
Erin Kesler {Resigned 1111112024}
Company secretary
Reed Smith Corporate SeNices Limited
Independent examiner
Juliette Tompson Accounting Limited
23 Prospect street
Caversham
Reading
RG4 8JB

NEOTREE
REPORT OF THE TRUSTEES- CONTINUED
For The Year Ended 30 June 2024
Establlshment and purpose
Charitable objects
The advancement of health and Ihe saving of lives for the public benefft. in pa￿cular but not exclusively by
providing technology, software, infomation. education and support to heatthcare workers and medical
practitioners and the carying out of related r8*arth.
Irision
To eradicate preventable newborn mortality and morbidity in low-income countries. We can save over half a
million babies, lives, and improve the care of over 27m babies. every year, rf Neotree technology is adopted
by Ministries of Health in Ihose ￿Untries.
Mission
To empower healthcare workers in Iow-income countries to improve the qualty of newborn Gare by putting
the lilesaving power of technology irrto their hands.
Background
Problem
More than 6.500 babies, in their first month of lrfe. will dE today
A baby born in Africa is 10 ts'mes more likety to die than one bom in Europe orthe US
70 % of deaths in low-income countries are from prevenlable condib'ons (more than 1.2m babies each
year)
Most of these babies {over 750/0} are bom in healthcare facilities under the care of hard-working,
well-intentioned nurses and docto￿ but who often lack specific neonatsl training. How can we empower
them to provide the high qualty and consistent C2re needed to improve those babies. than￿$ of surviwng
and thTiving.
Solution
Sometimes radical advan￿ can be athieved with simple solubons. The Neotree app is used by healthcare
workers at the bedside, as they provide care to sick and vulnerable newboms. It guide5 them to perform Ihe
correct checks, in the right order and prompts them to record vital health data that can be used to support
them to make the correct diagnosis and take rapid lrfesaving action. The data is then available at a hospital
and national level to guide hospital managers and national policymakers to best allocate reSoUr￿s, identify
key hèalth issues and take systematic steps to address them.
Evidence
Early data from Chinhoyi Provincial Hospital. Zimbabwe, shthy case fatalty rales in vulnerable babies
dropped by 50 % after Neotree was intrcxjuced., Clinicians in Malawi have told us Neotree is 'part and
parcel of our day-to-day work" which Yorces a thorough assessment of the baby.. and "helps us to see
where we aren't doing well.. Healthcare workers have reported high-perceived improvements in quality of
newborn care after using Neotree on the ward . Evaluation has shown Neotree to be a highly usable.
acceptable, and feasible tool that has resulted in both perceived and observed improvements in newborn
care. such as optimised prescription of antibiotics and redu￿ rate5 of hypothemiia {unpublished). The
tum-around time of blood culture results has been rgjuced from 5 days to under 48 hours using the
Neotree platfom. improwng ants"microbial stewardship and infection control. Neotree has proven resilient
through industrial strikes and a global pandemie and 15 likely to be highly cost-effective. with an estimated
cost at scale of $6.35 per healthy life year gained in Zimbabwe, rf imp￿mentation is scaled nationally.,
C￿han et al. 2019.. doi., 1011361bry8h-2018-OC4)860
Iprwrtrfi. rAJFAKaLYy) in fwre5s). Neonatl %Jrvtw￿ in Zimbabwe.
' Crohan et 05. 2019.. doi." 10.11361bmj8h-2016-000860
One study demDnstrated th* prescription tales oforal ￿￿E￿(￿l£Sat feTh from 99%102%vAdxn a rThinth fo1lown8yn￿erne￿￿titsn
' Chimhuya et al. 201.. doi." 10.11011202T.01.06212493221wq)rinO
'Cre￿n etal. 2019.. doi. 10.1136Jbmigh.2018_001)860

NEOTREE
REPORT OF THE TRUSTEES- CONTINUED
For The Year Ended 30 June 202
The Year in Reviw. 1st Juty 2023- 30 June 2024
Objectives
The Neotree charity was established by core membeTS of the Universty College London (UCL) Neotree
research project to maximise the impact of its research on the qualty of newbom care and preventable
infant mortality. Be￿￿n July 2023 and June 2024. the charity aimed to diversify and increase direct
funding. increase the Independen￿ and sustainability of the chanty outside UCL, induding through
improved governanc8 Structures and financial systems and pror£sses, and to collaborate where possible to
ensure Neotree amplifies the effect of rts leamings on neonatsl mortalty in low-resource settings.
Highlights
This was an exciting year during whith Neotree piloted arKJ extended the application of ¢ts technology from
large central hosprtals to primary healthcare sttes. As a resutt. Neotree implemented its technology in hvo
new primary health clinics, bringing its totsl number of sites to five. across countries (Malawi and
Zimbabwe). Neotree was also profiled for two global heath prizes, secajred its first ever grants from the
Health Resilien￿ Fund in Zimbabwe (via UNICEF) and Norway's Laerdal Foundation and ended the year
by securing a significant first-b'me grant from the UK Foreign, Commonwealth and Development Office
(FCDOI in Zimbabwe.
Impact
Malawi - extension to primary care and neM)rk appmach
Building on its previous FCDO grant {to adapt and test
whether it is feasible to use Neotree technology in primary
care settings), in May 2023, the FCDO Regional Evidence
Fund alrnost doubled its support to Neotree for ils work in
Malawi. This second award enabled Neotree to pilot its
adapted technology in two new primary health clinics
Kabudula Communtty Hospital and Lumbadzi Health
Centre.
An estimated 50/0 of mothers in Iow4ncome countries
deliver their babies in primary healthcare facilrties and
experients worse clinirAI outcomes, including increased
risk of mortality. Wrth no comprehensive clinical data
collection or clinical support systems being used in these
settings. and with the majority of primary healthcare sites
being nurse-led without medical doctors, Neotree's
decision support tool can help support and educate those
who might have had little or no training in newbom care to
Pnncip& In4estrqator. fJr &3ndi Ghiiime and
pr0￿ct Mana9er. Mlhelo SiiiJ8ni with FCDO
IAalawi colleagues at Neor￿ s High-l.evel
Newbom Stratw 1Oeeting (Marc17 2024J.
Iryepintrfi. inw(yts). Th2sWon ¥nwrYd in Zimhbwe.

NEOTREE
REPORT OF THE TRUSTEES- CONTINUED
For The Year Ended 30 June 2024
make informed diagnoses and promde consi
evIden￿baSed, quality care.
The four-month pilot demonstrated that healthcare
workers found Neotree's technology to be both feasible
and acceptable to use in primary healthcare sites. aThJ
also provided valuable insights into implementation
strategies in these setting5. Key findings underscored
the Importan￿ of stsndardised clinical training,
consensus on newbom care standards at the primary
care level, and metrics for assessing care qualty.
Neotree team wrth UNICEF don8tpd
h8rdbV8r2 at l.iJmhadzi Hp.attn Cpntrp ni?p
of the twlo ne¥v Pnn7ary fvlealin cliniG.￿
al3Yit. (Jn day nne of implpnpentHli(Xl.
In January 2024, Neotree secured new support from
the Laerdal Foundation to undertake a Network Impact
Evaluation across Kamuzu Central Hospital (the
existing Néotree site) and Kabudula Communty
Hospital and Lumbadzi Health Centre (the bNo new pilot sites). Most immediately. this will ensure Ihat
Neolree's work can continue to impart care across these three existing sttes. The study will also provide
ritical infomats'on on Neotree's impact on the qualrty of Care given to small and sick newboms in primary
care settings, and will help Neotree to better assess its potential for impact at scale, by assessing changes
in the workfiow and overall Servi￿ dèlivery of heathcare prowder5.
Zimbabwe- costings research
In September 2023, Neotree received $115k for its work in Zimbabwe from the Health Resilien￿ Fund (via
UNICEF) to deliver the following objectives:
1. Enhanced abilty of clinicians at all implementation sites to run Neotree independently. supporting
long term sustainability
2. Improved integration of Neotree as a neon*al module within the nakn'onal level Electronic Health
Record (EHRI system and roll out alongside the EHR
3. A health economics assessment and costings analysis of Neotree's impact
4. Enhanced awareness and understanding of Ne0t￿ and the EHR system among community
stakeholders, leading to greater acceptance and uts"lisab'on.
In June 2024, buildingthoff its growing partnership, Neotree secured first-time FCDO support for its work in
Zimbabwe, with a new £1 m grant (effeclive June 2024 to December 2025). To better understand the impact
of Neotree's digrtal health platfomi, this new grant will..
Test Neotree at a greater scale to eX￿ore impact on newbom deaths, arK1 inlemationally definè
measures of quality of care. Data from a Neotree newbom care nthork of four Primary Health
Clinics and two new hospital sites. wll be analysed before and after implementation thus increasing
the certainty of Neotree's costed measure of impa¢# (sample size will be -3 times initial pilot study.
9,0001.
Substantialty improve the functionalty of Neotree a5 follows..
Optimising clinical management support during the first "goklen hourf of lrfe (this work will
also be facilliated through the MuMmytr￿.S focus on the continuum of care from the labour
ward to the newbom care unit):

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
b. Ensufing Neotree includes best available dinical advice about how to care for a baby to
ensure their brain development is optimised. for example in delivering kangaroo mother
¢are. This V￿11 also align wth ongoing work to develop family centred care pathways
whereby Neotree empowers parents and families to play a key. but appropriate role, in the
care of their baby
c. Enhancing clinician's capauty to a￿UratelY identsfy and manage neonatal disorders by
exploring the feasibility of advanced predictive algorithms via standard statistical analysis
and machine leaming techniques
d. Extending Neotree to the care of the mother during labjur.. Mummytree
Developing a daily record data capture for Neotree
Capacity build in qualty improvement knowledge and skills through a UK-Zimbabwe Qualty
Improvement programme.
Informed by the activities and associated ouws above, the organisation TrMII deliver a business case plan
for larger scale-up of Neotree across Zimbabwe.
Dats intsgration
Neotree is excited about new plans for data integration, arKI with it. greater impact in the coming years.
Integration of health data is a pivotal function within Neotree and critscal to sustainabilty, as it enables
implementation and impact at scale, and ownership by the relevant Ministy of Health. In Zimbabwe,
Neotree is delighted lo have been asked by the Ministry of Health to develop the neonatal module for the
Impilo system (Zimbabwe's national Electronic Heatth Record system). This will mean that when the Implio
is rolled out, Neotree technology will be in use in over 1,000 sites, improving neonatal care for all babies.
Additionally, Neotree has expanded its colleth.on of p8tient4evel matemty and neonatal data in Malawi and
has established the ne￿$sary data pipeline to integrate this wtlh their national DHISv2 health informalion
management system. With future funding. Neotree will activate this dats integration be￿een Neotree and
the DHISv2 within Kamuzu Central Hospital (KCH). Subjed to Ministry of Heatth approval and support.
SUCC6ssful roll-out in KCH could pave the way for expansion of the Neotree DHIS2 integration to other
facilities across Malawi where Neotree is present, ensuring seamless data flow and accessibility across Ihe
country's healthcare systems.
Strategy and building Neotree's proflle
Neotree recognises the need to build ts global heamh
profile and better communicate its innovats.ve worf( to
new audiences within and beyond the research.
academic and medical communitses within whtch
Neotree's work was born.
With this in mind, the team was thrilled to seize
opportunities to promote Neotree's digital innovation in
health and raise its profile as part of its consideration for
o global health prizes.
1. In September 2023. the E
ollabor
Award at GBCHealth's
'Celebrate' event in New York.
Prol Micbeue Heys. Neotree's co.1￿1nder.
ceiving Ihe GBCHeAttlJ.% Fijtijre Unrted
Collaboraior Award in New York (September
20231.

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
Neotree was honoured to be one of five global winners recognised for their °imaginative, brave and bold
work. to help make quality health care available to everyone, no matter where they are l)om. Specifically,
the Collaborator Award recognises individuals and organisations who cross
boundaries to fuse their skills and experience with others, athieNllng extraordinary results to change tha
face of global health.
Launched in New York in September 2022, Lesley-Anne Long. GBCHealth President and CEO said, 'The
awards highlighl organisations with incredible impa¢X and potential. and by putting them in the global
spotlight and welcoming ihem to the Future UnÉted communty. we help connect them with the partners and
collaborators who rAn help them tske the next step and make exponentially more impact."
2. In April 2024, Neotree was shortlisted for a ￿0k Global SoLrth eHeath ObseNatory Prize from
French Foundation. Pierre Fabre to support innovation in digital health. Neotree was 1 of 100+
newly register￿ projects when rt applied in
December 2023. Winners receive 1-yearfs
technical and financial support and
opportunity to join Fabre's network.
As part of Neotree's ne￿Ork building, it sought to
strengthen relationships in the loW-resour￿ countries Tts
technology is buitt to seNe, and with global digrtal health
experts. In November, following the approval of their
board, Neotree was delighted to become an Associate
Member ofthe Afri
n Neonatal Association. Established
in 2021 by more than 200 neonatal leaders across 42
countries in Africa, the ANA works to ensure that
newboms receive the best possible start in lrfe. In
De￿rnber, Professor Michelle Hey5 attended the Global
Digital Health Forum in Washington DC where she met
with senior represenlatives from the Bill and Melinda
Gates Foundalion, Cooperlsmith, D-Tree, Jhpiego.
UCL r9.se4rcher.* Dr NiJ.£hrA.' Khao.
McGovern Foundation, Medtronics, PATH, UNICEF. Emm.a Wilscr, ar.d Dr H&.•na.lJ Ggnnort ¥Vlth
USAID, and World Health Organisation, among others.
Principal Invesligalor
Dr Sdiidi Chiunie from
Having proved to be an invaluable opportunity to network Jvjalawi al the Helina Co.ryAÉ*rence (OclobL)r
with potenlial funders and partnets. Neotree will priontlse 2024)
attendance ofthe Forum going forward.
Research
Throughout the year, Neotree continued to work in partnership with University College London {UCL, which
initially incubated the charity), to assvss and demonstrate the clinical and cost effectiveness of Neotree's
digital platform.
Wth support from the Health Resilience Fund (via UNICEF). Neotree delivered a detailed health economics
osting
an analysis of the costs and outcomes of its work to date at Chinhoyi Provincial Hospital,
Zimbabwe. This analysis. albeit at a single site. demonstrated a sustained redurAion in mortality in low-birth
weight babies (weighing 1,5Crf>2.500 grams) following Neotree's introduction. with a trend towards an
°Crehan et al. 2019 doi." 1011361bmJEIF2018-000860
See
(preFArt￿ty. fft*kntA)n in wtyty). ThesttKtyon inFYovi￿ Nevnaral survival sn Zimbbwe.

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
overall reducb'on in newbom mortalty. The eslimated cost per Healihy Ltfe Year gained (HLY) at scale was
$6.35 - highly cost effective - though with a degree of statisbcal unortainty. As part of this grant, Neotree
also delivered training in research and qualty improvement methodology to -430 clinicians and academics
in Zimbabwe and South Africa. maximising Neotree's reach and capacity building in newborn care.
In October 2023, Professor Michelte Heys (UK). and Principal Investsg*ors, Dr Msandeni Chiume-Kayani
(Malawi) and Dr Simbarshe Chimhuya (Zimbabwe) addressed the UN General Assembly
on digital health on Neotree's role in catalysing the d￿JItal transformation of newbom care (presentab'on on
YOUT
starts -47 mins).
Throughout the year. the Neotree team also submttaj multiple corrferen￿ abstracts in the UK, Malawi,
Zimbabwe and South Africa. In October, four members of the team. led by Dr Chiume, gave a panel
presentation to the HELINA pan-African Digrtal Heatth Conferen￿. describing multiple faots of Neotree's
work from community engagement to predictive modelling to experts, practitioners, researchers. and
thou9ht leaders from the fields of healihcare and infomiab'on technology.
In May 2024. Tom Palmer, a UCL health economist. spoke about 'Modelling impact and cost-effectiveness
of a digital data capture and decision support tool {Neotree) designed to improve neonatal survival in
Zimbabwe,. This was part of a well-received keynote speech at the Wodd Health Organisation's
ital Health Da
More broadly. Neotree is committed to collaborating with olher organisations. both to increase the impact of
its own digital health technology and to strengthen andlor expand other matemal healthlneonalal platforms.
From August 2023 to 31 July 2024, Neotree partnered wilh the All India lnsts.tute of Medical Sciences
IAIIMS) on a study of neonatsl care in Nuh. Haryana. a rural district in north India (via a UCL collaboration).
Together they undertook a needs assessment to explore current practi￿$ and barriers in the provision of
neonatsl care services, and if, and how. digital interventions might better meet the needs of healthcare
professionals. The study found that implementing a dinical decision support tool would enhance the
capacity of healthcare professionals and their delivery of qualty and efficient newborn care.
Fundraising
Neotree's long-temi vision is that national Ministries of Health across multiple countries adopt and sustain
its low-cost technology. To encourage adoption. Neotree is working to slrengthen its evidence base
(expanding implementstion to Tnore sites) to better demonstrats impad and cost effeth'veness.
As a small and growing L*arity. Neotree needs to secure new philanthropic ￿ndIng to support ongoing
implementation, but must also raise funds to invest in building the intemal capacty and systems necessary
to scale the organisation and maximise its impad in ending preventable newbom deaths.
To this end, Neotree was delighted to have achieved a 12 % growth in income for the year to June 2024,
ha￿ng strengthened its financial footing and divetsified its fvnding base (raising £263,772 from 1 July 2023
to 30 June 2024, as compared to £235.199 for the same peTiod to June 2023). This was achieved with new
and increased funding. which included fir5t-time support frorn Zimbabwe's Health Resilience Fund. Neotree
was also gratsful for a donation of vital clinical equipment from UNICEF in Malawi.
Fundraising highlights
Shortlisted for Pierre Fabre's É40k Gl¢)bal South eHealth Observatory PrEe
Secured $115k in first-time support from the Health Resilience Fund in Zimbabwe (via UNICEF)
Doubled UK FCDO Regional Evidence Fund support in Malawi with a £120k g￿nt

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
Sec#Jred £1 m in first4ime support from th8 UK Foreign. Commonwealth and Development Office in
Zimbabwe leffedive from June 2024)
Secured $200k in fir5t-time, mutt￿Year support from Nofway's Laerdal Foundation towards the
delivery of a Ne￿Ork Impact Evaluation of Neotree in Malawi {effectNe from July 2024)
Secured a £25k Universty College London (UCL) Block Grant via Intemational Science
Partnerships Fund for UCL'S largest Official Development Assistan￿ (ODA) compliant grant
Re￿iVed 460k in donations from a London Marathon fundraiser {Jan Herzog raised £6k for
Neotree) and several UK fvnders. including renewal support from the Roy Bard Foundation and
first-time support from the Ausb'n Bailey Foundab"on. CB & HH Taylor 1984 Trusl, and Souter
Chantable Trust
UCL was shortlisted for a £3m National Institute of Heamh Research Global Heatth Grant to evaluate
Neotree's digital quality improvement system to improve newb¢)m care and survival in collaboration
with Neotree and the African Neonatal Association
First-time grant application to Rotary Intemational for £300k to implement Neotree at Bwaila
Hospital. Mala
Shortlisted for the second stage of the US Draper Richards Kaplan Foundation's competitive grant
round for $300k in multiyear, unrestricted support
Begun promising conversab'ons with other potential US donors, induding the Bill and Melinda Gates
Foundation.
Emma Wlson, Neotree's Qualltative Researcher at UCL, also secured a £25k UCL Grand Challenges grant
for matemal mental health in Zimbabwe.
Governance
As a growing charity. Neolree needs to increase investsnent in its govemance, financial processes and
internal controls. This will better enable Neotree to ensur8 that its finan￿S are strictly controlled, so that it
can better manage risk and provide value for money as Fis expenditure and operations grow.
During the past year, Neotree has:
Implemented a new Risk Register
Developed a Code of Conduct and a number of policies on Safeguarding, Vvhistleblowing,
Anti-bribery and CO￿Uption, Conflict of Interests and Financial Reserves. It has also further..
Made its
afe
uardin
Pol
available on a dedicated page of Neotree's website,
with local language translations into &tsoDa, N
Added a safeguarding page to the admissions scrtpt on the Neotree app. which shows
dinicians available referral opts'ons for
engaging with a patient
Mandated the entire team, induding volunteers.
to successfully complete level l of UNICEF'S
Prevention of Sexual Exploilation and Abuse
(PSEA) safeguarding training and complete Self
Declaration Fomis to confirm they have
completed the training arml read and understood
Neotree's key policies.
Looking forward
Runiier.s diifrng tfje Lcp.doo m3ratho.q in Apnl
2024 . one of Ihe mosl iconK. sporting event.8
the
world
wlien
Jail Herzog mised £6k for running un be.fiill
Ncvl¥cL.
Neotree will expand use of its digital platfom to a total
of eleven srtes, with six additional srtes in Zimbabwe
I￿0 new hospital and four new primary healthcare
facElities), positioning itself for greater impact.. saving
io

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
more newbom lives and improving care for more small and vulnerable newboms. The charity wi15 also
continue to build and strengthen its research base. It wll test ts implementation model, cary out a Ne￿ork
Impact Evaluation and develop a business case plan for scale-up. By undertaking more in-depth health
economics research, led by University College London. Neotree will collect more robust data to track the
cost per lrfe saved and demonstrate tls cost*ffeth"veness. Wrth increased grant funding, the charity will
invest in str8ngthening rts financial capacty and governance structures, setttng up the ne￿Sary processes
and procedures to improve its financial security and sustainability as the scope and scale of its grant
fvnding and operations accelerates.
Supporters - thank youl
Neotree is very grateful to the followng organisations, whose uucial support through the year has made its
work possible..
Austin Bailey Foundation (UK)
CB & HH Taylor 1984 Tntst (UK)
Mr Jan Herzog (UK)
Mr C Fitzgerald (UK)
National Institute of Heatth
Research (UIQ
Roy Bard Foundation (UK)
so￿er Charitsble Trust {UK)
UCL Grand Challenges {UlQ
UK Foreign, Commonwealth and
Development Office Regional
E￿￿en￿ Fund
Health Resilience Fund via
UNICEF Izimbabwe)
Universty College London (UK)
Governance
statement of trustees, responslbllities
The trustees {who are also the directors of Neotree for the purposes of company law) are responsible for
preparing the Report of the trustees and the financial statements in aC￿rdance with applicable law and
United King(Jom Accounting Stsndards (Unrted Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair wew of the state of affairs of the charitable company and of the incoming ￿$oUr￿S and application
of resources, including the income and expendEiure. of ts charitable company for that period. In preparing
those financial statements, the trustees are required to".
- select suitable accounting polictes and then apply them consistentiy.
- observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going con￿￿ basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper aC￿unting records which disdose with reasonable
accuracy at any time the financial posrtion of the charrtable company and to enable them to ensure that the
financial statements compty with the Companies AL* 2006. They are also responsible for safeguarding the
assets of the charitable company and tten￿ for ta￿ng reasonable steps for the prevention and detection of
fraud and other irregularities.
li

NEOTREE
REPORT OF THE TRUSTEES - CONTINUED
For The Year Ended 30 June 2024
Recrultmenl appolnlmen( Inductk)n. and tralning of new trustees
All trustees understand their dulles and responsibilities as trustees and the fEed to act in the best interests
of the charity. On each new appointment the existing trustees explain to the new trustees what is requirgj
of them, and appropriate lrterature is handed oui to them. For roles, suth as the treasurer, chair and
secretary, the existing chairperson meets with proS&￿tiVe trustees to discuss their roles and
responsibilities and to ascertain the appropriate s￿.11 level of the prospects.ve trustees. Trustees are aware
that they retain overall responsibility and control of the trustee recruitmen( sdects.on and induction pro￿sS.
Financial performance
The Charity had an operating loss of (£37,038) in the year {2023'. £10,378 profft).
Totsl income and funds for the year were £263.772 (2023: £235,199) and consisted mainly of donations
and gift aid, as well as grant funding for Charity projects in Africa.
Totsl expendiiure for the year was £3CiI,810 (2023: £224.821) and the main expenditure ￿lated to projecl
management, project delivery and operations. sofvare development. admin support and fundraising.
The deficit for the year is primarily due to increased investment in project rnanagement and fvndraising,
which aligns with the chanty's long-temi growth strategy. ￿lIe this represents a short-term financial loss
for the year, it has positioned Neotree for fijture expansion and improved impact.
The trustees remain confident in the chartvs financial sustainabilty, with key steps being tsken to diversify
funding Sou[￿s, secure mults"_year grants, and improve cost efficiency.
Reserves policy
This Charity maintains a level of reserves appropriate for the organisation. drawing upon guidan￿ from the
Charity Commission. The agreed level of reserves for the year to 30 June 2024 was £32,000.
Approved by order of the board of trustees on 13 Marth 2025 and signed on its behalf by:
Yali Sassoon - Chair
12

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF NEOTREE
I report on the accounts for the year ended S) June 2024 set out on pages fourteen to twenty one.
Respective responslbilities of t￿￿teeS and examlner
The charity's trustees are responsible for the preparalion of the accourts. The chartty's trustees consider
that an audit is not required for this year (under Section 144(2} of the Charities Act 2011 {the 2011 Act) and
thal an independenl examination is requir￿1.
It is my responsibilty to..
Examine the accounts under Section 145 of the 2011 Act
To follow the procedures laid down by the General Direthons given by the Charity Commission
To state whether particular matters have ￿me to my attents.on
Basis of the Independent examlners report
The chanvs gross income exceeded £250,000 and l am qualffied to undertake the examination by being a
member of the Association of Chartered Cerbfied Accountsnts (ACCA).
My examination was carried OLrt in accordance with the General Direth"ons given by the Charity
Commission. An examination includes a review of the accounting records kept by the chanty and a
comparison of the accounts presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts and see￿"ng explankn.ons from you as trustees conceming any such
matters. The procedures undertaken do not prowde all the eviden￿ that would be required in an audit, and
consequently no opinion is given as to whether the accounts present a Irue and fair viev/ and the report is
limited to those mattefs set out in the ststements telow.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) Which gives me reasonable cause to believe that. in any material respecl the requirements:
To keep accounting records in accordance with Section 130 of the 2011 Act
To prepare accounts which accord the aC￿untINJ records and to comply with the accounting
requirements of Ihe 2011 Act.
Have not been met,. or
12) To which. in my opinion. attention should be drawn, in order to enable a proper undetstanding of the
accounts to be reached.
SM Jackson
S M Jackson FCCA
Juliette Tompson Accounting LiMi￿j
23 Prospect Street
Caversham
Reading
RG4 8JB
Date: 13 March 2025

NEOTREE
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 30 June 2024
2024
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2023
Total
Funds
INCOME AND ENDOWMENTS
FROM
Donations and18gacies
74,674
74,674
156.642
Grants
187.828
187,828
78.397
Investments
835
435
1,270
160
Total
75,509
188,263
263.772
235,199
EXPENDITURE ON
Fundraising adivities
60.482
37,168
Charitable activtties
51.526
169,344
220,870
183,885
Other
9.164
10,294
19,458
3.768
Total
121,172
179,638
300.810
224,821
NET INCOMINGI(EXPENDITURE) 3
(45,663)
8,625
(37,038)
10,378
RECONCILIATION OF FUNDS
Transfer btheen funds
5,863
(5,863)
Total funds brought forward
83.572
83,572
73,194
TOTAL FUNDS CARRIED
FORWARD
43,772
2.762
46,534
83,572
14

NEOTREE
BALANCE SHEET
At 30 June 2024
2024
2024
Unrestricted Restricted
Funds
Funds
2024
Totsl
Funds
2023
Totsl
Funds
CURRENT ASSETS
Cash at bank and in hand
Accrued income
Prepayments
50.625
971
163.320
13,675
570
213.945
14.652
570
83.734
3,863
51,602
177.565
229,167
87,597
CURRENT LIABILITIES
Amounts falling due within one
year
Creditors
Deferred income
17.830)
(19,488)
(69.250)
(27,318)
(69.2501
(4.025)
(7,830)
(88.738)
(96,568)
83,572
TOTAL ASSETS LESS
CURRENT LIABILITIES
43,772
88,827
132,599
83,572
LIABILITIES - Amounts falling
due after more than one year
Deferred income
(86.065)
186,065)
TOTAL NET ASSETS
43,772
2,762
46,534
83,572
FUNDS
General and restricted
10
2,762
46.534
83,572
TOTAL FUNDS
43,TT2
2,762
46,534
83,572
The charitable company is entitled to exempt'on from a￿lt under Section 477 of the Companies Act 2006
for the period erKled 30 June 2024.
The members have not required the company lo obtain an audti of its finanaal ststements for the period
ended 30 June 2024 in accordan￿ with Section 476 of the Companies Act 2006.

NEOTREE
BALANCE SHEET- CONTINUED
At 30 June 2024
The trustees ackn¢)wledge their respclnsibilities for.
{a) ensuring thal the charitable company keeps accounting records that comply with Sections 386 and 387
of th8 Companies Act 2006 and
Ib) preparing financial ststements which give a true and fair view of the state of affairs of the chaiitable
company as at the end of each finanLial year and of f(s surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which othewse comply with the
requirements of the Companies Act 2006 relating to financia ststefflents, so far as applicable to the
charitsble company.
These financial ststements have been prepar8d in accordance with the provisions applicable to charitable
companies subject to the small wmpanies. regime.
The financial statements were approved by the Board of Trustees on 13 March 2025 and were signed on its
behalf by..
Yali Sassoon - Chair
16

NEOTREE
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024
1. ACCOUNTING POLICIES
Basis of preparing the flnancial ststements
The financial statements of the charitable company. which is a public benefft enb.ty under FRS 102,
have been prepared in accordan￿ the Charities SORP (FRS 102) 'Accounting and Reporting by
Charities.. Statement of Recommended PraCts.￿ applicable to tharrties preparing their accounts in
accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS
102} {effecttve 1 January 2015),, Finanaal Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The finanGial statements
have been prepared under the historical cost convent'on.
Incorne and endowments
All incoming resources are induded on the Statement of Financial Activities when the charity is legally
entilled lo th8 income, and the amount can be quantified with reasonable accuracy.
Deferred income represents grants r￿1Ved in than￿ for speufio projeds. These funds are subject to
performance condibons and will be recognised as income in future periods when those conditions ar8
met.
Expenditure
Expenditure is accounted for on an accruals basis and has been dassified under headings that
aggregate all costs related to the category. ￿ere costs cannot be diredy attributed to particular
headings, they have been allocated to activities on a basis congstent with the use of resourtss.
Tangible flxed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Equipment
- Straight line over 5 years
Taxation
The charity is exempt from tax on its charitable actNibes.
Fund accounting
Unrestricted funds can be used in accordan￿ with the tharitable objectives at the discretion of the
trustees.
Restricted fvnds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by Ihe donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and PUTpose of each fiJrKI is induded in the notes to the financial
statements.
2. RAISING FUNDS
2024
2023
Support costs- fundraising
60.482
37,168
17

NEOTREE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
For The Year Ended 30 June 2024
3. NET INCOME I (EXPENDITURE)
Net incomel(expendtture) is stated after chargingl((Th1iting):
2024
2023
Depreciation
4. AVERAGE NUMBER OF EMPLOYEES
The average number of employees during the year was O (2023.. 0).
The charity had no employees during Ihe year. SeNces were delivered via extemal contractors
and consultants where necessary.
5. TRUSTEES, REMUNERATION AND BENEFITS
No remuneration was paid to trustees in the year ended 30 June 2024 nor the year ended 30 June
2023 in relation to duties perfomed in relation to the position as trustees. Detsils of salaries paid to
trustees for work not relating to their role as a trustee are notgj under related paty disclosures.
Trustees, expenses
No sundry expenses were reimbursed to trustees during the year.
6. DEBTORS: AMOUNTS RECEIVABLE WITHIN ONE YEAR
2024
2023
Accrued income
Prepayments
14,652
570
3.863
15.222
3,863
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Accruals
Deferred income
1,430
25,888
89,250
4,025
4,025
18

NEOTREE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
For The Year Ended 30 June 2024
CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN
ONE YEAR
2024
2023
Deferred income
86,065
9. DEFERRED INCOME
As of 30 June 2024, the total deferred income balance VRS £155,315 (2023: £0). of which £69,250 is
classified under current liabilities and £86.065 under long-temi liabilEb"es.
10. MOVEMENT IN FUNDS
AI 30.6.23
Net
movement
in funds
At
30.6.24
Unrestricted funds
General fund
83.572
(39.8(NJ)
43.772
Restricted funds
Restricted funds
2,762
2,782
TOTAL FUNDS
83,572
(37,038)
46,534
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
8xpended
Movement
in funds
Unrestricted funds
General fund
Transfer from Restricted funds
75.509
(121,172)
5.863
(45,663)
5.863
75,509
{115,309)
(39.800)
Restricted funds
Restricted fund
Trdnsfer to Unrestricted funds
188.263
(179,638)
15,863)
(185,501)
8.625
(5,863}
2,762
188,263
263,772
(3C(1.810)
(37,038)
TOTAL FUNDS
Restricted fijnds of £5.863 were r&allocatgJ to Unrestricted funds to reverse a transfer of the same
amount from Unrestricted lo Restricted funds in the pre¥￿￿S year (2023.. £5,863).
19

NEOTREE
NOTES TO THE FINANCIAL STATEMENTS - CO￿lNUE0
For The Year Ended 30 June 2024
11. RELATED PARfY DISCLOSURES
Yali Sassoon (Trustee) made a don*ion of £1.250 to the charity to support operations (2023 £42,500).
20

NEOTREE
DETAILED STATEMENT OF FINANCIAL ACTMTIES
For The Year Ended 30 June 2024
2024
2023
INCOME AND ENDOWMENTS FROM:
Activities for generating furKts
Donations and legacies
Donations
Grants
Interest income
74,674
187.828
1.270
156.642
78.397
160
Total incorning resources
263,772
235,199
EXPENDITURE ON:
Support costs
Grants and donations
SOf￿are and web servi
Field and travel expenses
Equipment costs
Sundries
Bank charges
Advertising and marketing
Management
Operations
Fundraising
47,819
16,103
4,220
25,721
12.874
500
41
1,343
13
56,085
128.543
60.482
247
547
34,375
81,368
37,168
285,602
221,847
Governance costs
Accountancy
Other Legal and Professional
13,881
1,327
2,934
40
15,208
2,974
Other resources expended
Plant and machinery dePre￿atIon
Total expenditure
300,810
224,821
Net Income l (expenditure)
{37.038)
10.378
This page does nol form part of the statutory financial statements.
21