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2025-02-28-accounts

KEEP ME BREATHING

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT)

FOR THE PERIOD ENDED 28 FEBRUARY 2025

The trustees present their annual report and financial statements for the period ended 28 February 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity sets out to advance the health and save lives of people born with a rare genetic condition known as Congenital Central Hypoventilation Syndrome (CCHS). It sets out to develop and research treatment.

We have continued to ensure that there is little to no waste of funds so kindly given. Examples include:

Maintaining a mentality of ensuring no waste at all times

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees are satisfied that the activities above achieve the furtherance of the charity’s purposes for the public benefit.

Achievements and performance

The charity has been working with its world class advisory board made up of medical, scientific and business professionals who support the work of the charity. Core members of the group have been researching the worldwide incidence rates of CCHS and a new publication is in the pipeline to reveal the findings of this work.

The charity has attended numerous networking events with other patient groups, healthcare professionals, scientists and businesses. We continue to run many fundraising events each month,

ranging from sports challenges, local business charity days, quiz nights, challenges, auctions and musical performances.

A focus for the year is World CCHS Day and in 2024 we launched a bedtime storybook which we created in collaboration with a local author and illustrator. The official book launch was hosted at a Hove children’s bookshop and we received many wonderful reviews including one from the worldrenowned children’s author Dame Jacqueline Wilson.

We have worked with the media throughout the year to generate over a dozen new pieces of media coverage to raise awareness of our work and to further knowledge about CCHS and its impact.

Our research and development team has completed Phase 1 of our 3 Phase action plan set out to create an advanced CCHS treatment within an accelerated timeframe.

Phase 1 covered the completion of proof of concept for a key component of the advanced breathing pacing system - a Co2 detection device that is wearable and portable. This device works to monitor levels of Co2 in the bloodstream so if any spikes occur, they can be detected and acted on quickly. The prototype has been built and initial laboratory results of this wearable technology show a positive performance and further testing is now underway.

None of the above would have been possible without the support of everyone who has donated fundraised and given their time, so we would like to take a moment and express our gratitude to each and every person who has contributed to the KMB mission in the last year.

Financial review

The charity received income of xxxx for the 2024/25 financial period. The total expenditure of the charity for the period was xxxx. The amount of total funds the charity holds at the end of the reporting period to 28 February 2024 was £281,343.20. (yellow sections to be finalised via Carpetnterbox)

Reserves policy

Keep Me Breathing aims to hold an amount as a reserve which is intended to cover regular monthly outgoings for around four to five months, including financial, IT charges and staff costs, which currently amounts to £35,000.

Plans for future periods

We are progressing well with our 5-year product development plan which was developed by Cambridge University and backed by over 130 experts with backgrounds in genetics, medicine, clinical research, engineering, innovation and business.

Phase 1 of the plan, to complete proof of concept of the wireless and wearable Co2 monitor to assess levels of this gas in the bloodstream has been accomplished. Plans are underway to see if this technology may be useful and harnessed for use in elite sportspeople. If successful, this would provide an income stream to support the development of the wider R&D programme.

We continue to map out the regulatory and clinical pathway for CE registration for the advanced breathing pacemaker. The team works in accordance with the latest regulatory frameworks set out by the Food and Drug Administration (FDA) and the European Union Medical Device Regulation (EUMDR) in order to gain straightforward Medicines and Healthcare products Regulatory Agency (MHRA) and ethics approvals for clinical studies. CE marking will allow wider access to the technology for other conditions that may benefit from phrenic nerve stimulation.

We have grown our network of stakeholders invested in supporting us on our product development journey, both from a clinical, academic and business perspective. This support is growing as our research and development work continues to take pace.

We have made a decision to add a new freelance team member to the charity, someone with a background in developing Corporate Sporting Partnerships within the Charity Sector, which aims to

bring expertise and funding through commercial relationships.

Structure, governance and management

Keep Me Breathing, charity number 1201757, is incorporated as a charitable incorporated organisation (CIO), registered in England and governed by its governing document, called "The Constitution" dated 8 October 2022.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

Mr J D Oakley – Appointed 27 January 2023

Miss S L Roberts – Appointed 27 January 2023

Miss E L Lucas – Appointed 27 January 2023

Mrs E F Kent – Appointed 15 April 2023

Recruitment and appointment of trustees

There are only four current charity trustees. The two founders, Mr J Oakley and Miss S Roberts, plus another parent with a child diagnosed by CCHS, Mrs E Kent, who also has skills and expertise in marketing and running events. The fourth trustee, Miss E Lucas, works for a local large business and is well-networked in the local area. All trustees are chosen for their interest in the charity’s work and the skills they are able to provide to the charity.

The charity’s trustees, its one current employee and all contractors are aware of the charity’s principles and working framework as set out within its Constitution, especially in relation to financials; benefits and payments including appropriate use of the charity’s funds when paying for goods and services required by the charity. There is an expense policy in place to cover use of expenses by trustees and employees.

The trustees' report was approved by the Board of Trustees.

Mr J D Oakley Trustee

Charity registration number 1201757

Company registration number CE031265 (England and Wales)

KEEP ME BREATHING

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2025

KEEP ME BREATHING

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J D Oakley Miss S L Roberts Miss E L Lucas Mrs E F Kent Charity number 1201757 Company number CE031265 Registered office 83 Rowan Avenue Hove England BN3 7JH Independent examiner Carpenter Box Amelia House Crescent Road Worthing West Sussex BN11 1RL

KEEP ME BREATHING

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

KEEP ME BREATHING

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE PERIOD ENDED 28 FEBRUARY 2025

The trustees present their annual report and financial statements for the period ended 28 February 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity sets out to advance the health and save lives of people born with a rare genetic condition known as Congenital Central Hypoventilation Syndrome (CCHS). It sets out to develop and research treatment.

We have continued to ensure that there is little to no waste of funds so kindly given. Examples include:

Maintaining a mentality of ensuring no waste at all times.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees are satisfied that the activities above achieve the furtherance of the charity’s purposes for the public benefit.

Achievements and performance

The charity has been working with its world class advisory board made up of medical, scientific and business professionals who support the work of the charity. Core members of the group have been researching the worldwide incidence rates of CCHS and a new publication is in the pipeline to reveal the findings of this work.

The charity has attended numerous networking events with other patient groups, healthcare professionals, scientists and businesses. We continue to run many fundraising events each month, ranging from sports challenges, local business charity days, quiz nights, challenges, auctions and musical performances.

A focus for the year is World CCHS Day and in 2024 we launched a bedtime storybook which we created in collaboration with a local author and illustrator. The official book launch was hosted at a Hove children’s bookshop and we received many wonderful reviews including one from the world-renowned children’s author Dame Jacqueline Wilson.

We have worked with the media throughout the year to generate over a dozen new pieces of media coverage to raise awareness of our work and to further knowledge about CCHS and its impact.

Our research and development team has completed Phase 1 of our 3 Phase action plan set out to create an advanced CCHS treatment within an accelerated timeframe.

KEEP ME BREATHING

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

Phase 1 covered the completion of proof of concept for a key component of the advanced breathing pacing system - a Co2 detection device that is wearable and portable. This device works to monitor levels of Co2 in the bloodstream so if any spikes occur, they can be detected and acted on quickly. The prototype has been built and initial laboratory results of this wearable technology show a positive performance and further testing is now underway.

None of the above would have been possible without the support of everyone who has donated fundraised and given their time, so we would like to take a moment and express our gratitude to each and every person who has contributed to the KMB mission in the last year.

Financial review

The charity received income of £134,340 for the 2024/25 financial period (2023/24: £345,092). The total expenditure of the charity for the period was £174,625 (2023/24: £32,103). The amount of total funds the charity holds at the end of the reporting period to 28 February 2025 was £272,704 (2023/24: £312,989), made up of £199,158 restricted (2023/24: £199,158) and £73,546 unrestricted funds (2023/24: £113,831).

Reserves policy

Keep Me Breathing aims to hold an amount as a reserve which is intended to cover regular monthly outgoings for around four to five months, including financial, IT charges and staff costs, which currently amounts to £35,000.

Plans for future periods

We are progressing well with our 5-year product development plan which was developed by Cambridge University and backed by over 130 experts with backgrounds in genetics, medicine, clinical research, engineering, innovation and business.

Phase 1 of the plan, to complete proof of concept of the wireless and wearable Co2 monitor to assess levels of this gas in the bloodstream has been accomplished. Plans are underway to see if this technology may be useful and harnessed for use in elite sportspeople. If successful, this would provide an income stream to support the development of the wider R&D programme.

We continue to map out the regulatory and clinical pathway for CE registration for the advanced breathing pacemaker. The team works in accordance with the latest regulatory frameworks set out by the Food and Drug Administration (FDA) and the European Union Medical Device Regulation (EUMDR) in order to gain straightforward Medicines and Healthcare products Regulatory Agency (MHRA) and ethics approvals for clinical studies. CE marking will allow wider access to the technology for other conditions that may benefit from phrenic nerve stimulation.

We have grown our network of stakeholders invested in supporting us on our product development journey, both from a clinical, academic and business perspective. This support is growing as our research and development work continues to take pace.

We have made a decision to add a new freelance team member to the charity, someone with a background in developing Corporate Sporting Partnerships within the Charity Sector, which aims to bring expertise and funding through commercial relationships.

Structure, governance and management

Keep Me Breathing, charity number 1201757, is incorporated as a charitable incorporated organisation (CIO), registered in England and governed by its governing document, called "The Constitution" dated 8 October 2022.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

Mr J D Oakley Miss S L Roberts Miss E L Lucas Mrs E F Kent

KEEP ME BREATHING

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

Recruitment and appointment of trustees

There are only four current charity trustees. The two founders, Mr J D Oakley and Miss S L Roberts, plus another parent with a child diagnosed by CCHS, Mrs E F Kent, who also has skills and expertise in marketing and running events. The fourth trustee, Miss E L Lucas, works for a local large business and is well-networked in the local area. All trustees are chosen for their interest in the charity’s work and the skills they are able to provide to the charity.

The charity’s trustees, its one employee and all contractors are aware of the charity’s principles and working framework as set out within its Constitution, especially in relation to financials; benefits and payments including appropriate use of the charity’s funds when paying for goods and services required by the charity. There is an expense policy in place to cover use of expenses by trustees and its employee.

The trustees' report was approved by the Board of Trustees.

James Oakley

..............................

Mr J D Oakley Trustee

19 December 2025 Date: .............................................

KEEP ME BREATHING

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KEEP ME BREATHING

I report to the trustees on my examination of the financial statements of Keep Me Breathing (the charity) for the period ended 28 February 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Robin Evans

Robin Evans BA FCA CTA DChA

Amelia House Crescent Road Worthing West Sussex BN11 1RL

19 December 2025 Dated: .........................

KEEP ME BREATHING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 28 FEBRUARY 2025

Unrestricted Restricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 110,672 - 110,672 138,451 199,158 337,609
Other trading activities 4 23,636 - 23,636 7,483 - 7,483
Investments 5 32 - 32 - - -
Total income 134,340 - 134,340 145,934 199,158 345,092
Expenditure on:
Raising funds 6 57,239 - 57,239 6,020 - 6,020
Charitable activities 7 117,386 - 117,386 26,083 - 26,083
Total expenditure 174,625 - 174,625 32,103 - 32,103
Net income/(expenditure) and
movement in funds (40,285) - (40,285) 113,831 199,158 312,989
Reconciliation of funds:
Fund balances at 1 March 2024 113,831 199,158 312,989 - - -
Fund balances at 28 February
2025 73,546 199,158 272,704 113,831 199,158 312,989

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

KEEP ME BREATHING

BALANCE SHEET

AS AT 28 FEBRUARY 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 3,763 -
Current assets
Debtors 13 1,090 500
Cash at bank and in hand 281,343 331,989
282,433 332,489
Creditors: amounts falling due within 14
one year (13,492) 19,500
Net current assets 268,941 312,989
Total assets less current liabilities 272,704 312,989
The funds of the charity
Restricted income funds 17 199,158 199,158
Unrestricted funds 73,546 113,831
272,704 312,989

The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 28 February 2025.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its incoming resources and application of resources, including its income and expenditure, for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

19 December 2025

The financial statements were approved by the trustees on .........................

James Oakley

..............................

Mr J D Oakley

Trustee

Company registration number CE031265 (England and Wales)

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 28 FEBRUARY 2025

1 Accounting policies

Charity information

Keep Me Breathing is a charitable incorporated organisation (CIO) incorporated in England and Wales. The registered office is 83 Rowan Avenue, Hove, BN3 7JH, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Based on these assessments and having regard to the resources available to the entity, the trustees have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT and audio equipment 3 years straight line
Camera equipment 4 years straight line
Medical equipment 4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 110,672 - 110,672 135,951 - 135,951
Grants receivable - - - 2,500 199,158 201,658
110,672 - 110,672 138,451 199,158 337,609

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 23,089 7,483
Sales of products 547 -
Other trading activities 23,636 7,483

5 Income from investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 32 -
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Travel expenses for events 15,642 -
Other fundraising costs 41,597 6,020
57,239 6,020

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

7 Expenditure on charitable activities

Total Total
2025 2024
£ £
Direct costs
Depreciation 1,404 -
Travel expenses 3,054 4,761
Materials for projects 1,935 265
Other costs 20,870 -
Computer costs 6,156 -
Administrative expenses 416 -
Consultancy costs 21,233 -
Research costs 22,521 -
77,589 5,026
Share of support and governance costs (see note 8)
Support 33,380 12,914
Governance 6,417 8,143
117,386 26,083
Analysis by fund
Unrestricted funds 117,386 26,083
Total Total
2025 2024
£ £
Staff costs 31,489 -
Bank charges 272 136
Professional services 1,619 12,778
Governance 6,417 8,143
39,797 21,057
2025 2024
Governance costs comprise: £ £
Legal and professional - 3,134
Accountancy 5,040 4,500
Meeting expenses 1,377 509
6,417 8,143

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

8 Support costs allocated to activities

(Continued)

The expenditure for support and governance costs basis of allocation are all direct.

Governance costs include payments to the independent examiner of £2,130 (2024 - £1,900) relating to independent examiner fees, and £2,910 (2024 - £2,600) for accounting services.

9 Trustees

Trustee, Mr J D Oakley, was paid £21,233 (2024: £nil) during the year for undertaking various management roles including driving the charity’s fundraising activity, and developing and maintaining strategic partnerships with research and medical professionals.

10 Employees

The average monthly number of employees during the period was:

2025 2024
Number Number
Administration 1 -
Employment costs 2025 2024
£ £
Wages and salaries 27,745 -
Social security costs 2,644 -
Other pension costs 1,100 -
31,489 -

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

12 Tangible fixed assets
IT and audio Camera Medical Total
equipment equipment equipment
£ £ £ £
Cost
Additions 1,347 3,398 422 5,167
At 28 February 2025 1,347 3,398 422 5,167
Depreciation and impairment
Depreciation charged in the period 449 849 106 1,404
At 28 February 2025 449 849 106 1,404
Carrying amount
At 28 February 2025 898 2,549 316 3,763
13 Debtors
2025 2024
Amounts falling due within one year: £ £
Other debtors 1,090 500
14 Creditors: amounts falling due within one year
2025 2024
£ £
Borrowings - 15,000
Other taxation and social security 6,059 -
Accruals and deferred income 7,433 4,500
13,492 19,500
15 Loans and overdrafts
2025 2024
£ £
Other loans - 15,000
Payable within one year - 15,000

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £1,100 (2024 - £-).

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 March
Incoming
Incoming		 At 28
2024 resources February 2025
£ £ £
CAFAMERICA funds 199,158 - 199,158
Previous period: At 1 March
Incoming		 At 29
2023 resources February 2024
£ £ £
CAFAMERICA funds - 199,158 199,158

CAFAMERICA grant is being used to fund the research being conducted across two key projects: the development of a neurostimulator device to be fitted into the ear, and the advancement of an implanted pacer system which will stimulate the phrenic nerve with control and feedback system from sensors. The grant is funding the scientific research, covering the cost of skilled engineers, the use of their laboratory and equipment.

18 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
Fund balances at 28 February 2025 are represented by:
Tangible assets 3,763 - 3,763
Current assets 69,783 199,158 268,941
73,546 199,158 272,704

KEEP ME BREATHING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 28 FEBRUARY 2025

18 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
Fund balances at 29 February 2024 are represented by:
Current assets/(liabilities) 113,831 199,158 312,989
113,831 199,158 312,989

19 Related party transactions

During the period, there were £9,420 (2024 - £5,277) of reimbursed expenses relating to two trustees (one trustee) for travel, subsistence and accommodation for meetings.

Mr J Oakley is the managing director of James Oakley Media Limited. James Oakley Media Limited provided a start up loan to the charity of £20,000 in the previous period, of which £10,000 has been repaid. The remaining balance has been waivered, leaving £nil (2024 - £15,000) outstanding at the period-end. No interest was payable on this loan and was not secured on any of the assets of the charity.

Mr G Roberts, who is the father to a trustee, Miss S Roberts, made donations totalling £50 (2024 - £15,000).

Mrs S Roberts, who is the mother to a trustee, Miss S Roberts, made donations totalling £2,000 (2024 - £15,137).

Mr A Kent, husband to trustee Mrs E Kent, is a director for Tents N Events Ltd, who made a donation of £nil (2024 - £2,000) to the charity, and was reimbursed £750 (2024 - £nil) for the purchase of a laptop for the charity.

Total donations from related parties amounted to £2,050 (2024 - £32,137) during the year.

Private and Confidential

The Board of Trustees Keep Me Breathing 83 Rowan Avenue Hove BN3 7JH

Our Ref: K337/RE/2157959

18 December 2025

Dear Trustees,

Keep Me Breathing

During the course of the independent examination of the charity’s accounts for the year ended 28 February 2025 the following representations were made to us. Please read these representations carefully and if you agree with our understanding, please sign and return a copy of this letter to us as confirmation of this.

Acceptance of Responsibility

  1. You confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation), sufficient to satisfy yourselves that you can properly make each of the following representations to us.

  2. You acknowledge as trustees your responsibility for making accurate representations to us, and for the preparation and fair presentation of the accounts, which we have prepared for the charity and which you have approved, in accordance with UK Generally Accepted Accounting Practice, and for the design and implementation of internal controls to prevent and detect fraud.

Representations

You confirm that:

  1. All accounting records have been made available to us for the purpose of our independent examination and all transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all Trustees’, members’ and management meetings, have been made available to us.

  2. In determining how amounts are presented in the accounts, you had regard to the substance of the reported transaction or arrangement, in accordance with UK Generally Accepted Accounting Practice.

  3. Significant assumptions used by you in making accounting estimates, including those measured at fair value, are reasonable.

  4. You have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the accounts.

  5. You have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the accounts and these have been disclosed in accordance with the requirements of accounting standards.

  6. At the balance sheet date, the charity had no liabilities or provisions other than those recognised, and no contingent liabilities other than those disclosed, in the accounts.

  7. There have been no events since the balance sheet date that require disclosure or which would materially affect the amounts in the accounts, other than any already disclosed or included in the accounts. You undertake to notify us of any such events as may occur between the date of this letter and the date of signature of our independent examiners report.

  8. The charity had not, at the balance sheet date, contracted for, and the trustees had not authorised, any material expenditure other than as disclosed in the accounts.

  9. The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the accounts.

  10. You confirm that you are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which could affect the accounts. The charity has complied with all aspects of contractual agreements that could have a material effect on the accounts in the event of non-compliance.

  11. You are not aware of any possible or actual instance of non-compliance with contractual agreements that could have a material effect on the accounts in the event of non-compliance.

  12. You have disclosed to us:

  13. a. The results of any assessment you have made of the risk of the accounts being materially misstated as a result of fraud;

  14. b. Any knowledge you have of fraud or suspected fraud affecting the charity involving management, employees with significant roles in internal control, or others where such fraud could have a material effect on the accounts;

  15. c. Any knowledge you may have of any allegations of fraud or suspected fraud affecting the charity’s accounts, communicated by employees, former employees, analysts, regulators or others.

  16. d. Any other relevant information.

  17. In your opinion, the charity’s accounts should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. You have considered the future cash flows of the charity for a period of at least one year from the date of your approval of the accounts.

  18. You confirm that you have disclosed to us the identity of the entity’s related parties and all related party relationships and transactions relevant to the charity that we are aware of. Related party relationships and transactions have been appropriately accounted for and disclosed and we are not aware of further related party matters that require disclosure.

(Related party transactions† are those conducted with another individual, company or entity which directly or indirectly: controls, is controlled by, or is under common control with, the entity; enjoys significant influence over the entity; or has joint control over the entity. Related parties also include key management (usually directors) of the entity and their close family. Such disclosures are required in order to draw attention to the possibility that the reported results and financial position may be affected by the existence of such parties and material transactions between them and the entity, which may provide an economic benefit to those parties from the entity’s activities.)

† Transactions include: the supply of goods, money, property or services; leasing or licence arrangements; and provision of finance, guarantees or security (all irrespective of any price charged). There are exemptions for certain matters.

  1. All grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to us. There have been no breaches of terms or conditions during the period regarding the application of such income.

  2. You are not aware of any matters of material significance that should be reported to the Charity Commission.

  3. You acknowledge our commentary, notified to you in writing, concerning our objectivity and independence as independent examiners in the light of the additional services which we also provide. You are not aware of any failure on our part to seek your informed approval of any significant accounting judgements or decisions which should be made by management.

  4. You confirm that the insurance cover in respect of the charity’s assets and activities is adequate and regularly reviewed.

  5. You confirm that the trustees have managed the affairs of the charity throughout the period in accordance with the charity’s constitution.

  6. You confirm that the pension costs in the accounts are materially complete at the year end.

Yours faithfully

Carpenter Box

Carpenter Box

We confirm that we have read and understood the contents of this letter and agree that it accurately reflects the representations made to you by or on behalf of the trustees during the course of the independent examination.

Yours faithfully

Signed on behalf of the board of trustees by:

James Oakley

…………………………………………

Trustee

Stephanie Roberts

………………………………………....

Trustee

19 December 2025 Date ……………………………