500 miles (Charitable Association) ANNUAI. REPORT AND FINANCIAL STATEMENTS 31 D¢c¢mt¢r 2025
500 miles (Charitable Association) CONTENTS Page TRUSTEES. IiEPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES 15 16 BALANCE SHEET 17 STATEMENT OF CASH FLOWS 18 NOTES TO THE FINANCIAL STATEMENTS 19
500 miles (Charitable Association) TRIISTEES, REPORT The trustees are ple&sed to present their annual rqx)rt together with the fjnancial stst¢m¢nts for the year ended 31 December 2025. The Legal and AthninistratiN'¢ infomiaiion set on page 13 forms part of this report The financ]a] 3tstementy comply wtth the Chan"ii¢s and TTUStee Investment IScod&nd} Act 2(K)5. the Charjties Accounts Iscotlandl Regulaiions ?{Kl las amend1. the Mcmorandum and Articles of ASlatiOr and Accountin¥ and ReFKYrting by Ch4]niies Statement of Recommended Practi¢¢ applicable to charities prq)anng their accounts in accordance with the Financial Rep)rting Standard applicable in the L k and Republic of Ireland IFRS 1021 leffective l January •0151 TRLISTEES Th¢ irustees who have serv1 during the p¢ri(d since the last true¢s' reiKKt are Olivia Gile& Robin Garrett. Susan Dalgety. Jone Salmonsorl Susan Davie and Shruu TUTT. OWF.CTII'F..% AJD ACTII'ITIES The obi¢cts of the charity ar¢.. 'tO SUPPOrt Disabled People in depritr'ed areas of ih¢ world by crea¢in%. fsl4bli5hin% managing• running• donating to or otherwise supporting projects which the C"harilv may from time to time conjider will further the inierests of Disabled Peopl¢, ftdtr declaration iht the Charity will hAvt 4 p8rti¢ulAr focus OD furthtrinR the interes1$ of Amputeej including the proviyion of prosthetic JeThi¢eJ andlor Components andlor do'ires io them; where -Disabled People- means people who Juff¢r from an) form of disbility -Ampuie¢s- pergonj who hve fllll or p•rti&l absence of * limb or limbs whe¢htr eonge•it•lly or dut io or traum Inn8 the accouniinB period these objeclivcs to further the chanty'$ PUTSe5 for the public benefit have bttn fulfilled thrOh the followin8 8CtIviii¢s. l.Ilntil 31" March ?0?5. ongoing management. (yeration gnd fundin8 of a prosthetic and orthotic ("P&O"I service I'the P&0 Servi¢¢"l. rK)w orKrnting at th¢ wosthetics and orthotL¢S d¢partmeni I'the P&.0 l)epartment"l of The Lllongwe In5titule of (Miopa¢dics and Neurosurgery. a new orthopaedic compl¢x In Lilongwe. Malawi I"LION"} The P&.0 servi w&$ establishsj by 5(X) miles In 2(K)8 and it pres¢ribes. manufactures and fits prostheses and orthos¢s and wms to serve the whole of the central region of Malawi 2 From I. Apnl 2025. LNwoin8 mi)nilonw 1X1 and funthng of the P&0 knIc¢ 3. Paying for the collection from L wsaka and distribution Ln Sdima. of 50 persona] ener8y transp)nation mcycles IPErrsl, and pans for 15 mor< for KLrthanda Osayenda Disability Outreach I'KODO'I 4 Fundin8 the sLpIY of a few P&0 devKes to p)or people attendin8 the prosthetics and orthottcs depath)¢nt of the University Teaching Hospitai in Lu5ak& Zwnbia {"UTH-I. 5. Planning w)d paying for the trwnjng of a maW1£n in wostl*ts¢s and orthotic& at Exceed Worldwide in Cambodia I"Exceed'l. with a view to his deployThenl in a 51K) miles. projeck incluth'ng paymeni of fe¢s, Iivu]8 atlowancts and travel costs. 6. Fundraising for the ch8n"ty. ACHIF,I'F.MEYTS AND IMPAcr Malawi 111 In accordance wrth the charity's IM8-ium plafy SW miles han over full fi and administr1Ve re5POn5ibility for the P&0 Servi to the LION Trust on 31 March 2025 with an
500 miles (Charitable Association) ACHIEVEMENTS AND IMPA( continued inforniai. unenforceable commimieni to a four-year lod of redu¢ing run-off support {"Handover'l subject to certain condition5 around lal production level. Ibl quality. Icl In- country. extenllily denved Income generion and Idl nng-fencing of in¢ome generated by the P&0 Departrnent for the benefit of the P&0 s¢rvice I'the Conditions") bE]ng satisfied The LION Trust is a Joini ventute between a Nor} conSluM and the Minisby of Health of Ma]awi I"MoH lalawi") 121 Up to Harthver, the chan.ty funded all costs of proJu¢tion of all P&0 devices sw)pl] through the P&0 Service which were noi by MOH Ma]awi or by Income to the P&0 Deparnnent from third party sources Posi Handok'er. a5 described at paraph$13 and141 below, the chanty supwrted th¢ Lion Trust to pruce ail P&0 thvicts suwled through the P&0 Service. The tota] number of patient5 treated in 2025 w&8 1.685 compared with 1.417 w 2024. 1.50.l In 2023. ond 1.513 in 2022 1.49? new P&0 d¢Yices were delivered In •025. mpared with 1,248 In 2024. 1.191 In 2021 and 1.296 in 2022. which repres¢nts an avera8e of 124 new device5 a month compared with an average of IIH in 2024. 99 25 In 20?3 atMI 105 8 in ?02? This means that capacity and prodLiCtion rates Ln 2025 have held up and even JnLYe4sed throuuh Handover1245 more dewices were supplied to 268 MO patients). The slightly lower Tates In 20?.l and 2024 are due to a delay In the delivery of the annud stock (Kder In July In Ix)th yeaT5 aTMI the P&0 Service Ixin8 closed for a lot of Dec¢mFr 2023 and January 20?4 In prepalon for moving In¢0 LION. The P&0 Service had I 1.01 I registered patients &8 at eThJ of 2025. up 810 from l 0.18! at the end of 20?4 compared Wlth an mcrease of t48 from the end of 202J The rate of increase in the numk)¢r of new patients regist¢r¢d ¢a¢h year has FKen slowtng as the P&0 Service had b¢ome well established in Lilongwe Tr majonty of patients were, 2nd 111 are. returning paiients. but the significant In¢rease in new patients registered with the P&.0 Service dunng the year under review Is very encourdging It is probably mainly as a result of the P&0 s¢r¥ic¢ now bein8 fully Integrat with the comprchensive orthopa¢di¢ facility at LION. 13 I P()si Handover. miles used lis 01 Smile fund and unr¢stn¢ted Income to support patients of the P&0 Service who could not afford io pay for the P&0 devices they need and thercfore SUPFK)rted the P&.0 Scrvice Itself. by purchasing and imTX)rtin¥ io the P&0 tkpartment the equipmenL stock and mat¢nals th cannot be pChed IallY and which are reqwred to deliver th¢ P&0 Servtce. (4) Post Handover. SCO mile5 continued io fund s(Kne of the stsff and runnin8 costs of the P&0 Departsnent. monitored the Lion Trust'5 [rfOllance against the CoTrJiiions and otherwise supported and provided advi¢¢ io the P&0 Service. 1515(K> miles supported the quajity of the P&0 Service lry lal completing the Implementation of the quaiitv management Sy51em that was designed for the chanty in 2018 (the "QMS'I In the P&0 I)epartment b¢forc Handover and {bl settLn8 up and trKginning to Lmplement an effertive extemai audit process for th¢ QMS to assess and make r¢¢otnmendations for Improvement In the quality of the P&0 Service and to make recommendatiiyns for tramin8 of the persormel of the P&0 Service 61 In anticipation of Handover. 500 miles WOTked with the LION TTUSt to iniegr2t¢ the P&0 Service th the heth servi¢e5 and systems ai LION as far as possible. In particular the ch8nty had all of the personnel of the P&.0 Service who were Ixin8 pajd dtr¢¢tly b). 5(K) miles 5[lled onto the LION T1,5 payroll. a]beit that the majmty of the costs of employTnent were sttll met by 5(KJ miles. (71 In anticipation of Handover. Tn order to sustajn the s¢lf-sufficiency of the P&0 Service. 5(X) miles (a) Maxim¢d exierna]ly derived Income fr( the P&0 Service and Ibl suc$$fUllY assigned a]1 of Its fomial and Infonna] agreem¢nts with third paty Pofiners to the LION Tn] The externlY denved income 8enerdtaJ by the P&0 t)epartment in only the fiT5t quarter of 2045 wa5 £4.?40 compar&1 to £7.?21 In ?024, £13.4!7 2023 and £10.401 in 2022. This me5 th Income 8eneralion w&s very strong at Hanik)ver
500 miles (Charitable Association) ACHIEVEMENTS AND IMPAcr oTrtiDued {8151K) miles to swth50r a technician working In the P&0 Service to study r( diploma in orthopaedic technology by undertaking a three-year residentsal c(MUse at Exceed beginning m January 2025 and from which he slKyuld graduate In January 20?8 {91 The charity cTh)tinued to the recetrtionist * the P&0 Dwe¥rt to undertake a diploma l¢v¢l ¢OLwse in bu51ness management from which she 8radued In Augu 2025. 110) As a one off exer¢ise. 51x1 miles pwd f(K KOtK). a Malawian disabilty organisatiory to collect a donation of 50 PErr5. and parts for 15 mOTe. from Lusaka and to distnbui¢ them to ps)ple with disabilities in Salim& Ma]a The main aim of .S(Ml miles in Malawi lo treatt self-suffi¢ienL $us¢4iDAble P&0 services thgt could be handed o%er to tht.Mal'i nationAI health seriic¢- so as to secure Ihe same quality of life benefits for fywre genertionq in .Ma18wi. The P&0 eentre ih#¢ 500 miles est4blished in 2UI 2 ai Mzuzu C entral Hospitl {4MI'H-I lty handed over to MOH 1141 4nd 11('Il in 2021 #nd durin% the period under review. Ihe ¢hArity sucres$fullv handed oi'er the P&() kTh'i¢e io the LION TrusL Thi8 mt#ns th41 W miles hAs achieved its mgin long lerni aim in Nlalawi. In the period under rtview. # * reBult of the P&0 Serviee which 11(Xl miles rgn 4nd supported, people All over Malawi. bul p4rti¢ulrly in centrnl rryion. have enjoyed cDmprehen5it P&0 service which they can Kcess or can bt #Misted to 9¢¢¢ and 1,68$ titnis received 1,493 devices. The improved mobility and body fvn¢lion f4¢ili¢¢ed by these P&0 devices and Ihe PETTJ vMstI)' tnhgnctt quallty of Ilfe b). dIbled ptoplt A chance of employment. tduedon Ind s()¢i#l p#r¢I¢ltiOn nd inclusion. ZAmbia 51MI Inile5 funded the suN)ly of 5 P&0 d¢vi¢es try the P&0 depgrtsncnt at UTH for 5 adults who were proposed to the charity by one of th¢ prof¢ssiond personnel WOTkin8 there 5(K) mil¢s had invited Such prorK)sals for peopl¢ who wer¢ nIggling to Y themselves (m on 8d basis and the costs were funded by the charity s On¢ Smile fund Training In julr). 1026, 51X) miles twan to fund an wNualifted Malawian iechnician who had been workin8 at the P&0 Depattrnent for severdl years to trdin In prosthetics and onhxics to diploma level through a three-year residential course nm tty Ex¢e¢it ITKIling ent of his fee¥ livin8 allowances and travel cost5 He Is eXted to qualify m January •O•8. Sponsoring the intemalionatly recognised trainin8 of Ahcal) 51udents h&$ always k¢n and iemain5 a cntical part of 5(K) miles 5tralegy to fu]fil its core objtttives Thls 15 the 21" African srud¢nl to have t¢en swnsored by 5(K) miles for a totsl of 24 qualification5 since the chan.ty an Training Afritgns lo be¢omt proJtht¢ists and ortholists to m intsrntional staDdArd in thi$ way not only provides the human reso¥r¢es required to dtliver safr and effective P&0 services through OUT projects, but it also represents an e55ential inveslmenl in the5t serviet at gr4ss roots leTrel to ensure their continuance for the benefit of people with dis#bilities in ture generations. Sponsoring tr#ining from 5 8chooL8 in 5 countries (T4nzani, C%mlMbdiA. Indi4, Gtrniany and Thailandl over the yearj widened the range of experience and prnetiet being broughi back into Ihe Malawian and Zambian health servites. ID both the short and long
500 miles (Charitable Association) AcH[E.EMF.NTs AND IMPAcr coD¢inued term. tr#ining a local work force directh. contributes to improvtment in the quality of lif¢ the proypeels for people with di8Mbilities in these Countries. Other Activities 5(M) Iniles One smile fund may be used only to pay f( or subsidise the COA of P&0 d¢vic¢s for people in Malawi and Zambia who can't afford to buy their OWTJ. The charity's One Smil¢ fund is gradually ing ¥stsb115hed &$ th¢ main for% of chanty. Th¢ charity has encouraged one off aTKI regular doltIonS from the community and it has encouraged and $upportcd a Small amount of third-party furKlraisin8 It did¢d th¢ majonty of that support to One Smile The tota] funds rnised through regular th)naiions to One Smile were £15.5271£15,482. in 2024. £15.37] in 2023. and £15,781 In 2022) Newsletters were produced In May aTrJ Novemlv 2025. The chariry's websi1¢ w&$ subswttially W01¢d in November 2023. The charity was prorned at ffle large publ talk .IAL REI'IEW Results for the period During tliis accOLting the income wa5 £76.2(/) {2024, £75.932. 2023. £255.295. and 2022. £16?.651) The high Inc¢)me in 202? 15 mainly due to two large legacies and the much lower income in 20?4 and ?0?5 Is Etcause charity has tC8un to r¢du¢¢ its Kiivities and has not ien proactsvely fundra151ny. Of the totai income for 2025, d11$ totallin8 £55.319 were restricted in natur¢, £1 O.IJXI io tr.rnn of a Malawian student and £45.319 10 On¢ Smile This 1$ the fifteenih yew of the ¢l)anty's th'r1 8ivin8 FfO8ramme. One Smil¢. whereby donors are encouraged to donw¢ smo11 sums. annually or monthly. on the ba51s that this money is restncted to Ixing i&sed excl17ve]y fw P&.0 servi¢¢ deltvery lo individ14als undff arry of 5rKI mil¢s' tYoJ¢¢is As atrM)v¢. a iota] of £15,527 was rd15ed in thls financial pen(xl1•024, £15,481 2023. £15.37]. and 2022. £15.7811 (These are In addition to ijther one-off donations to One Smile l The faci the chan'ty has 5U5tained and eyen slightly incre4 regu]ar donations to Smile fr(Kn 2023 and 2024. despite 01Y beginning io reduce the chanty's acliviiies. Is v¢ry wsilive A5 aknve, the am(x1 of externally d¢riv¢d irK(Hn¢ raised device sales in only the first qiwt¢r of 20?5 (before Handover) was £4,240 This COMre$ very favourably with the fu]1 years income of £7.?21. £13.427 and £10,401 for th¢ yews 2024. 2023 and 2022 respectively. ExIdIture on chantable xtivitie5 totslled £148.036 {2024. £133.543. 2023. £106.401. and 2022, £1 •4.9511 This has b¢¢n incurred prmctpally in relation to. {1 ) the Tunning cosls of the P&0 S¢rvi¢¢ in Malawi. Eef(Ye and after Handover. (21 Completing the Llnplementation and conductujg external auditing of the QMS at the P&0 Departm¢nt in Malawi. 131 paying for the collelOn of PE$ fr(m Lusaka aTMI their distrjbutson m Malawi for KODO. 141 fundmg thc costs of a few P&0 devices in Zambia on an h( b&%1& 15) Trainin Exwditure on charitable activities m 2024. pthiculorly Malaw. appe5 hitsr than in the three previou5 years mainly Ixcause it Include5 two annua] orders of m}p¢d ¢k and equipment for the P&0 DepartrnenL one In February 2025 for the year June 2025 to July 2026 and the second Dec¢rnlKr 2025 for the yearJune 2026 to July 2027 and both w¢ sub5¢antial as the chanty tried io
500 miles (Charitable Association) FThANCIAI, RF.VIF.W stock up the P&.0 Depanment prelydratton for Handover and for the first penod of service provisi wst Handover. In addition, cOS had nsen for the DecemFr 2025 order Other reasons for expenditure remainmg high In are ( I I th0h the chanry. Tto l(xJger pa)'ing an ¢XP8tnat¢ manag¢r which ac¢ounts for a large wrnon of the eNKnditur¢ m the previous y¢ars. It W&5 still pa>'ing the majority of three Salaries and two substantial trM)nu%es for staff at thc P&0 DepartmenL121 the charity suppleTneDied li)lY available furniture. tools and lon8 lerni stock for the P&0 DepartTn¢nt in preparation for H4Txlover,(315 miles kgan a new tsaining 5tK)nsorship for a Malawian studenL141 the Chanty finally C4)mplded the implemen110n of the QMS which had ien In aEwan¢¢ sinr¢ 2019 and (51 th¢ ¢harity b¢w to the Ceral aj].1 of the QMS. Exp¢nditur¢ L)n raisu)g fw)ds w&5 low £2.13912024. £1.377. 2023. £2.314. and 2022. £2.179> Thls is because the chanty did n(A hold any fun&a15in8 activttie5 dwin¥ the pen(xJ un(kr r¢vi¢w. Expenditure for this fmancia] year t<Aalled £150,175 (2024. £134,920; 2023. £108.715. 2022, £127,130. 2021, £142.368 and 2020. £125.0531 Afterdedu¢tin8 total expenditLf¢. th¢ Tt mov¢m¢nt fLrth f(xtk firhan¢i81 yearwas £73.W) (2024. £58,988. ?023. £146.580. and 2022. L36.5211. 8ivin8 toiai funds camed forward of £.l?4.69512024. £398.604. ?023. £457.592. and 2022. £311.0121 Of these £220.3(<J l?024. £316,1)66. 2023, £339,219, and 202• £194.5.171 are unresm¢ied 'frtt' r¢swv¢s. ofter Lkduction of desIgnj funds. all r¢pr¢s¢nied by cash. Reyerveg poliey The charity has not made and d(K5 not intend io make any future project commitments which will I le¥aily enfoiceable or give rise to a COnstrlIVe obligation exce0 for bonus pyments In connection with the management of the P&0 Service and LgoIng reportin8 from It This committnent Is dndent on seTvice5 provided or conditionsbein¥ mel and so isnot provided for In the 2025 a¢¢ounts In addition. there 15 a non-contraciuai fundin8 commitment In resrrtl of one student which again doe5 not reprcxni a liabiljty w d¢find in PgrnbTaphs 7 5 10 7 7 of the Charities SORP IFRSI O: As above. and in accordonce with the chanty's Icmg-term plwL 5(Klmiles knded overthe P&0 Service lo th¢ l.ION Trusi in March 2025 Ai Handover. In (ffder io tsy to secure the long-terni sustainability of the P&0 Service, s miles made CditIonal financial ¢ommitm¢nis to the LION Trust and the Charity intends to make further such CMilM¢nts In 206 All such commitments made bv 5(X) miles hav¢ been and will be assessed accordin¥ TO the chanry's acw81 reserves and expressed 10 be unenforceable statements of inient. The trustee5 consider that. as at the balance Sheet date. there 15 more than a ontryear funding commitment for 2026 An assessment of the tots] project commitments h&$ been treated as a d¢siBn8ted fund In accordance with parwaph 7.74 of the SORP The to1 &ssessma)t of the vuC of these commiimenrs Is £104.329 Budgets have ten estsblished for ¢harity'S MainIng activities und it is the trM)ard's Intention to io maintain res¢rv¢s sulTi¢i¢nt to cover the annual core costs of these activitie5 (after taking account of ihe de51gnations above) as a buff¢r agwnsi th¢ possibility of declining future income 8eneration as the chanty moves Into its final pha¥ without having to fundraise proactively Th¢ esiimat¢d annual Core ¢os for 5(K) miles. actsvities the rRxt financi8] penod are £107.329 mcludmo the des1ted fimd Reser¥'es are therefore ad¢quaie re12ttve io the projected budget for 2026. includin8 the financial commitments {unenforceablel that the chanty has mth and intends to make In respect of 2026. The charity aim5 to hold sutyicient reserves io be a bLSlS forprovithng r¢ducin8 tun-off supr to the P&0 Service until 2031132 (without fundrnsing proactsyelyl buL as alK)ve. ] financial commitsnents {unenforceablel have kn) and will m&k accorthng io the ¢hanty's available reserve5. Investment policy Thc w)Iicv Is to maximise the amount of interest that can be earned (m any swpI$ fim(ts by holdmg them in a¢¢outrts off¢rin8 the hIght int¢re5t ixrt with sufficient flexibility foT the chan.ty to abl¢
500 miles (Charitable Association) FINANCIAI. RF.VIF.W to acce$5 thffln whffl nee(kd .4t the erKI of the accounting period the bulk of unutilised funds and other cath resowces are held on two fix ierni deposit accounts manjrmg In June ¥j t)ecemkn ?0?6. .4 sutTIcTent balarKe to med foreseeable p4Thents Is held m the chan"ty's operational accounts The tTusiees do rK)i believe It is appropnaie io tie up funds tn longcr-tctTn illiquid fiTiancial iT)struments bccausc the retts 1[[ not COmrnsate for loss of flexibility. and p•ticuiarfy b¢cause the ¢hanty is not plannmg any woathve fwhdraising The chanty Inlends to MaInts this EK)Iicy of Investing the bulk of the cash funds held bLrt imm¢dioi¢ly reqwre& In similar. guarante1 fixed deFrf)Slt accounts and Interest earning bank xcounts This policy will kept under review. The trustees conftrni thai It Is appr(yiat¢ to adopi the 80in8 cfflcem tsi$ in prepanng the annua] finanlidl sta1ents. CLIMATE CHANGE AYD SITSTAINABILrrY The trLL8ie¢s have considered the effe¢t of miles (yerations on the environment The main con51deraiion Is the Importation from Switwlond io maw] of equipmenL pltC and components for the manuf1¢ of P&0 d¢vi¢es The plastic aTuJ comFwcnls are nol rwclable without dispr(Vl(lnate]Y exrnwv¢ an1. th¢ p&n [1 is w%in¥ the Inw-co%t 5yslern of manufa¢ture recommended for developin counthes by ICRC for economic re&8ons and the long-tern) sustainability of the P&.0 Service It may IKcome possible to purchas¢ the si(k from a hub based in Afn¢a. but at th15 time it 15 not economic to do so The chanty only Imix)rts Wh Cannot k bought IIKaily and tnes to make only an annua] order so &8 io ba]ance mainthming c8sh flow with making the f'eSt numEtr of shipments arml Il order5 early so that ii dS have io use Airf18hI other than in emw¥ency. It Is essential that the chanty's QMS which has InslI¢d at the P&0 Department Is extemally audited by high level professional prosthetistorthol1sts at lea annL1]Y and this will necessltate trai'el by iwo ¢xt¢rnai audit li Is desirable for go(MJ communication and relalions with the LION Trust as the In-county pann¢r for miles. ongoing activilie5 in Malawi. that the CEO visits the P&0 Department o¢¢asionally bui such VLSliS will now be less frequent than annua] ond will Ix kepi 10 8 minimiim herWIse. travel is minimised (kne of the chanty's tnCeS thxs not live near the venue for trusiee meeiin¥s and 50 she only attends one of the two annual meetings of the trustee5 in person so as to avoid travellin8 twice a year The charity has no physical wemises. 5(K) miles will (mly Send items to Malawi or 7AMb which ¢4mx be p¥1rj Ioc411y in tIv)5e coimtrie5 or nei8hEK)urJng countnes unle55 the Items arc dOned and the economic knefit outweigh5 the cost of shipping. RISI& MANAGEMENT A f(ThHI risk &$5e5sment 15 G4md anThIlY F.xecuttve OITieer reviews and uptse$ th¢ risk register quarterly. Fingnci41 risk It Is antlcipaied that thx¢ to I I l the e¢onomic climate and a reductson in donors. nl ¢ilnStanCeS and {•) th¢ charity's intimations that It 15 windin8 thwn its activities. It¥h'vidual fundrwsin8 by supporters ond both tEgulw and ad hoc (kn705 wll corrttnue to llff¢d The charity does noi plan any futur¢ futthising actsvity Due to the level of the chan'ty's re5mes. it 11 noi apply to trusts and foundations for fundin8 For these reasons the chan.ty exp¢¢ts a reducti( in¢om¢ in 2026 and ixyond. Extnditur¢ tn 2026 Is likely to be lower than in 2025 and in previow8 y¢ars fw the following four rea$$. (l ) Now that 5(X) mile5 has handed ovff the P&0 Serviee io the IJON TrusL 5(K) miles
500 miles (Charttable Association) RI.SK MANA Illin k)nger h&8 full r¢sp)nsibility for running It and is now %mly 5uppyJtsng it. {?) Tr charity will pay for on]y one annual or&r of Imtmmed stk and tywpment for the P&0 Dep8rtsnent in .W?6 th¢ •05 exExTrdTttTe mcluded the cost of such orders) and altho ¢osts a expect¢d to nsc. the cost of the 20?6 annual or4kr is unlikely to be higher than th¢ cost of the annual order paid for m Dccmbcr.?0:5 knause thai a vcfy. substanttai order .&$ intrndcd to Set the P&0 I)epartment up well for the ftrst lOd of service wovision p)st HanthTrver. (31 Althoubih the charity will now k paying for three external aLMJits of the QMS year lone of them by two professional auditors trdvelling from abroad). there will no further expenditure on completing and m)plem¢nting the QMS 14) Although the ¢hanty has made provision for paying for some P&0 devices for Zambians on an ad hoc basis. this is likely lo be a very low level If It happens a]1 Neerth¢l¢ss. th¢ Lhanty will incur subsigntiai exId11Urt In 2026 1CauSe il mtends io Loniinue io support the P&.0 S¢rvi¢¢ and It will pay the costs of SFK)nsom8 a Maiawian studerkt for the second of three yVdf5 of internation study. Despite the prosrrti of SUban11a] lif red1) exndItre. Coupled reduced Income. It 15 expected that 5(X) miles. r¢s¢rv¢s will $Ltsn the charity through 2026 and Fryond Although the charity. s reserves 11 contmue to be depleted in 2026. miles has now achieved its mam aim of handing over I I l the P&0 centre that 5¢X) miles estsblished at MC"H to MOH Malawi and MCH and {21 the P&0 Setvice io the LION Trust an(L although the chanty Intends io continue 10 5UPPOrt its main aciiviiies (the P&0 Service and Training). the nature of Its activiti¢s and financiai support h changed maieriatly In particulBr. financial siwx)rt will be limitoj to availgble reserves. Th¢ other main uenerd] risks to the chan.ty gffectsn8 all ty mom of its actwities are". l. That African Stdents who re fvnded for training f8tl lo 'qualify' or leave the servlee To miiiBate this risk. Ihe chariiv Is v¢ry ¢or¢lui In Its siudenl sele¢tion and although the bonds are un¢nlorccablc In practice. 11 bonds studen15 5 >ears 2. That local s¢Aff in Afri¢ who are trainedfindueted wlth i view to workiTrg wlth 5(M) milu for particulor length of time don't 8l•y •nd the inve8tmtht of time 18 lost. 'Ihe charilv iheretore follows a ri¥orous selection Pr(edUre 3. That p#tl¢llts {who are children or vulTrernbl¢ •dlt¥ or otherwise) n(Uor perJonTrel who corne into eonta¢l with the charity suffer abuse of tty kind aj a result of 1Ch contacL A5 direct reswnsibility loi 5aleguarding ai the P&.0 t)¢pwtsnent now lies with the LION Tn1 rather than 5iX) miles. the nsk io ihe chanty Is now only any such abuse LKcurr¢d before IIwKlover and com¢$ to 118ht. ttnd x) it is low and reducin¥. There are some major n5ks slf1¢411Y associ8trJJ with exh a1VIty. PLANS FOR THE FI:TIIRE AND ASSOCIATED RISKS 51K) mile5 has not made gny fotmal or enforceable commiiments. but has communicated Its Intention to conlinue to support the P&0 Service until at I1 arouTKI 7028. subject to cert4]n conditions around (al pr(MJuction level. (bl quality. Icl in-county. externally denved Income g¢n¢ration and Idl ring- fencing of Income ¥en¢r4i¢d by the P&.0 Departtnert for the Fnefit of the P&0 Service ("th¢ Conditions") tttn8 sa115fied in particular. the char]ty Intend5 to. (I l Use Its One Smile fund to supp(Kt the patients of the P&0 Service who wmot afford to pay for the P&0 d¢vi¢¢s they nee(L and therefore to supty)rt the P&0 Service itself. by purch&sing and importing to the P&0 D¢partment the equipmeni and rnatenals connot be purch&sed loclY and that It requeS m order to deliver the P&0 Sem¢e 121 Use its One Sm21e fuTKI to pay dwectEi, for P&0 devices for certam PIents of the P&0 t)epartsnent who cantK 3fford to pay for their own $0 also the Income of the P&0 Sffvice {31 Supp)rt the qua]ity of the pr(Mlu¢t aTKI service ai the P&0 Deparknent by lal ronducting effectiv¢ extemal audit process (thre¢ ¢Xtern audits per year, one of them to Ee conducted by at least one high level wofes5ionai prosthetis0rthotis1} of the QMS to in¢luth taking aCcOt of th¢
500 miles (Charitable Association)
PLAYS FOR THE FLITURE AND ASSOC.IATED RISKS
colltinuvj
¢]usionS and recomTnendations of the audit rep(xt5 and tn particular aangIng for
anv recoEnmended sub5tanlive Iraining In P&0 In so far &5 this fe&sible and affordabl¢ atxl {bl
¢ompl¢tfftg and de11vmg the QMS marnwi to the LION Tn.
141 Nlonitor the satisfaction of ihe Conditions
(51 PtoN'idc a¢hice to thc P& Scr%icc as required.
{61 Continue to fund some of th¢ staff atMI runnlng costs of the P&0 Departsnent.
{71 Continue io work with the LION TnL8t io have all of the rSOnnel w¢)rk]ng in the P&0 Departhient
{and the sttideni wTrK) Is bein8 stMsOred by 5CK) miles) wumed orfo the MOH Maiawi payroll arml
otyicially a]l(xated to work ai LION &$ %)on as possible.
{81 Continue to sE50r a Malawian student io undertake a 3-ye4r thplclna in orthopaeth'c teLhnology
thrL)ugli d three-year residenlial course wiu) Exceed Ln Camlmxlia
The nwin riskj &peelf lo.$110 nttl£F'pldnylor th¢ P&C).knice4re.'
(i) Il'k lif c'¢x3ftraiiCJhfrr>m ihe l.IC)N InLFI in.iiipw)ninx ihe charity'.$ abi)iY-li.siedplans.
(li) ('hullenxey wilh ihe imwrtaiiLw uf ihe eqtsipm¢iii, and malerials ihai cann(N he purcha.fed
loL'ullv.
(iii) 7lie L'huriiJ' being ahle io an effecli exlernal athlil 7his i.s a low ri.lk as
plun5 IhpIo¢'¥.
(ii.) Iliv L'hJriiyn()I heinxable Ic) ad(¥M ihe c()ncluiion$ amlrecommendaiioni ofih¢ audil rew)rfJ aThl
inTrJrli¢'141ar ic) arrunxeforary rec¢)mmeThled.suh.fiamiiv in7ining in Pt*()furfinanrial and ijr ()Iher
(I'J 7he chariiy beinx ahle io deliwr ihe L)M.S manwil.
{I'iJ llit munuxtr c)fihL IJ&{).Sen'iL'e n(ii wrfijrminx H'ell or l¥
500 miles (Charitable Association) PI,4liS FnR THF, FIITIIRF. 4Nn Assnci4TFD RISKS e•nliniied intends to contmue to Siv[ the P&0 gen."!ce h), purc, and imwrtin" to tthe P&0 Departsnent the equiFA))enL siock and m&eria]s thai cannoi be pwcha5ed IallY and that the P&0 Department-. equeS In order to delii'er the PLO Sen'ic¢ Th2's Is effectii'el}' sub-ldising the cost of P&0 d¢vi¢¢s for those who cannoi afford to imry their and so the charity Is entitled to apply funds donated io its restntted On¢ Sriiil¢ fimd to thcsc costs In &4ditiory 500 miles Iniends to its Ckne Smile fund io pay directly for P&0 devices for cenam patt¢nts of the P&0 Department who ¢arll)ot afford to pay foi their owj In Zambia the chanty's onty on8omg activity will k possibly paying d¢¢¢1Y for P&0 devices for those who cannot afford to buy thew ovm on basis, using the One Smile fund 51K) tniles ther¢fore tend5 that its One Smile fund will t¢ome the mwn focus of th¢ ¢harity and will seek to prcffiote it Stri)ngly aTwJ estab115h One Smile &8 its prmary fwthising The charity will continue lo (I l erKourage one off and regular donaiions from tl COTnmunity and (2) encouraye and suppon any third-paty fundrajsing in the community. and it will ty to direct as much of that 5UPPOrt to One Smile a5 Fossible. A new51etter will be produced in May and Novemlxr 2026. The charity's website will be kq)t up to date and if T¢quired a leafiet rwmotin¥ One Smile wjll be created. The tnLSte¢s would a8ain Itke to offLY a big thank you to ail those who have suptM)ned the charity through donations and c0llatrK)rIon during the year STRiicfiiRE GOVERNAI%CE AND MANAGEMENT Governing document 51X) miles Is a charitable a55Lxiation governed by a constitution for gn un1ncry8t assOCi8tion and approved by the Office of the Scottish Charity R¢Bulaior IOSCRI The ¢)nginai constitution was Wted on 29 June and 8 July 2(X)8. 1 May 2011. 22 January 2020 and 19 July ?021 The consiiiuiion Is consider by the trustee5 on an annual b15. Recruitment and appointment of trustees The c0115111iilion stales dJai tlie Ixxli of trustees shall Cth)s1 of the officer5 of the chan.ty (Clrrently Oli*id GLl¢>l Vijti) aaaitithul iiwiiber of truslets )#ia d¢teniiiiie frojn time to tim¢ Th¢ tnsiees are as 1]ed on pa8e l -, The trLlStee5 continu¢ io review the ¢omp)sition of the Intee trrt)ard to ensure an appropriate ranye of skill£ and e¥r¢nenre Are Invnlved in n'tr$eV ihv develmen1 and nmning nf ihe ch8rity The constitution provides that a]1 new trustee app)kntsnents are ratified at the first annual genera] meeting of the charity followino ihe date of Th1lm( Trustees induction and trninin% All current trust¢¢s are familw with the planned develorAneth and practical w(Yk of the charity and are ail knowl¢dg¢able In resw of the main chantable ti¢s. New trustees will k given a suitable Induction including an Inittal meetsng wth the chaj.rman and th¢ M)2rd 2nd an mduct]on pack ivith". - main documents settin8 Out QFrralLonal frarneOrk including the con1¢u110n - current finan¢ial wsition as set out In the latest pUblhed a¢¢(wits - Ix)ard minut¢s - bn¢fing on the obligats(K]s of the trustee group.
500 miles (Charitable Association) TRIlvIRF Crf)VF.RN4NCF. AND MAN'ACF,MF.Yr cnntiniied Organisational structure Ihe t8)ard of the Inst¢es meets ai It twice the year. The day-to-day 085 are delegated to the Executive Officer is Unpd. All key decisions are ratifwd by the Ixidrd. The chanty has no paid employees in the UK bLtt It engages the services of a copywnterlw¢bsit¢ technician on an ad hoc basis. There are no p18rs to chHnge the (sanIsl0naI stll1r¢ of the thanty over the next few y¢ars. Accounting period The accountin8 penod of the charity is th¢ calendar year 31 December. 12
500 miles (Charitable Association) LEG,IL &. ,IDIIIJ ISTILITII'E IIIFORII,ITION CHARtTY N.4ME 5(X) miles CHARITY NUMBER SC038205 TRLISTEES Sw Dalgety Davie Robin Garrctt Olivia Giles Ichainnm Trwur¢r gJKI Execuhve Officer) Jane SalmLm% Shnili Tiimer SECRETARY Olivja Giles PRINCIPAI. ADDRESS Box 5(X) AND REGISTERED OFFICE 4446 Mornm8side Ro•J Edinburyh FHin4BF BANKERS COU & Co 440 Strand London WC?R OQS First fapilHI FIAnk Old kaniknjo Buildiny KaMU Pr(Kession Road Lilongwe Private Bag 85 Lilongwe Malawi FDH Bank Malawi Capital Ciiy Branch P O Box 308070 Lilon8we 3 Malawi INDEPENDENT EXAMINER Mark W BaTll15h FCA S Michaels Clos¢ N¢wca5tle-under-Lymc ST5 8QY 13
500 miles (Charitable Association) ST.4TE.MENT OF TRI"STEES' RESPONSIBILITES Th¢ trustccs arc [SpOnSibl- for prpan8 - Tr1¥5 Rqx)rt and thc financia] Statements In accordance with applicable law and unli Km8thm Aeth]nting Standard5 {Unit Ldw iwIiLable to ¢hsTiues in S¢odand r¢qur¢s the trustees w wLyare fuuncl sternents for ch rinancial year. which b)Ive a trne and faw view of the ste of affairs of the trusi at the end of the year and of their financial aJiviii¢s dwing the year thts) ended. In Fryanng those fuwKial ststem¢n the trusiees are r¢quJr¢d io. select 5Wtable accounting policies and then apply them consistently. observe the method5 and prmcipl¢s Jn the ChaniJ¢s Si)KP. mak¢ JgeMentS and ¢]MateS th are reaw¥]able and wudent: state whether applicable accountin8 stsndards and staiement5 Of 4)rnMended prdctice hav¢ been followe& subject to any material depgnures disclosed and eXplned In the fuwicial statement5. and prepare th¢ finan¢ial stsiemeni$ going concern E4515 unless It Is InaOprIate to pr¢3um¢ that th¢ trwl will c<)niinue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the finan¢ia] posilton of the tru aTuI w.hich cnable them to ensure the financia] Sthlemenis comply with The Charities and Trustee Investment Iscotlandl Acl ?(K)5. the Charilie5 Accounts Iscotlandl Regulations ?IKk) la5 ameTHledl and the constllution of the mist They hav¢ gene reSnSibIlIty for takin¥ Such 5tCP5 a5 arc rcasonably 01 to thcm IQ saf¢suard the assets of the trust and to prevcnt and detect fraud and other iTregulanti¢s STATEMENT AS TO DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER So far as the trnstees ar¢ aware. th¢r¢ is no relevani accouniin8 information of which the charity's Independeni examiner Is wW&re. and each h&$ tsk¢n o]1 the si¢ps he 0h1 to have ken as a trustee in order to make himself aware of any relevant accountm8 mforniation and to estsblish the charity's Indedent examiner is aware ofthat inforniation. Approved by the trUe¢S on 16 June 2026 8nd sId on th¢ir IKhglf by: O Giles Secretary 14
500 miles (Charitable Association) 17%DEPENDENT EX.4MIIER'S REPORT TO THE TRITSTEES OF miles {Charitable Association) Independent Examiner's Rewrt to ¢h¢ Trustees of miles Cb4rit8ble Association) I report on the financial seMen(S of the charity for th¢ year ended 31 December 2025 which arc S¢1 out on pascs 16 to 25. Respective rt$ponsibilitie3 of trustees And examAner The charity's trustees are responsible for the PTepardti¢)n of the accounts in accord8n¢¢ with the lerni£ nf the ChHriiieR And Tni%iee IniethT7ent {ScnilanA! 4c1 2(K)S the ChTilleg Acc(biint$ (Scotlandl Regulations 2(KJ6 (as amended). The chanty truste¢s consider ihat the audit requirement of Regulation 101 I ) (a) lo Ic) olthe 21M)6 Accounts R¢Bulations does not apply. It is my responsibility to examine th¢ counts as required under section 441 l (c) ofthe Act and io state whether particular matters have come io my attention. BASIS of indtpendtnl examiner's J¢•tement My examination is cwried oui in accordance with Rryulation 11 of the 26 Accounts Regulations. An examinaiion includes a review of the accouniin¥ records kept by the charity and a ci)illparison of Ihe a¢counis presented with those records. It also includes consideration of any nusual ilcms or disclosurcs in thc acknount& and )ccks XplanatiOnS from the trust&S knonccrning any such matiers. The pr(Kedures undertaken do not provide all the evidence that would be required in an audit. and consequ¢ntly I do express an audit (yinion on the view given by the accounis. Independenl e%miner'J itstement In the course of my examination. no maner h&$ come to my attention which giv¢s me Teasonable cause io believe that in Jny rnatcrial respect the requir¢m¢nls: . to keep accountin8 rxords in accord8nce with Section 44{1) {8) of the 2005 Act and Rcgu13tion 4 of Ihc 4006 Accounis Rcgu13tii)ns to pr¢pare cOunt5 which 8CCOTd wtth the accounting records and comply with Regulation 8 of the 2(X>6 Accounts Regulations havc not been met. (K. to which, in TTry Optnton. att¢ntion should b¢ drnwn in ord¢r to enable a proF¢r und¢rstanding of the accounls to be reached. Mark W BartL15h Chartered Accountant {FCA) 5 Michaels Clos¢ NewcLsd¢-under-Lyme ST5 8QY 2026 15
500 miles (Charitable Association) ST.4TEMENT OF FIN.4NCI.4L .4CTIVITIES For the year ended 31 December 2025 Ilnrestricted Funds Restrictal FuTrds 21)25 Total 2025 Totsl 2024 IIIC.OME FROM r)nnaiinnq Charilable activitles Inh'cAmcnt Incomc 7915 4.240 Q254 4.240 52,27n 7,221 16.441 TOTAI. INI'UME 75.932 EXPENDITIIRE ON: Raising funds Cl)dt itsblr &livitiey+ 2.139 91717 2.139 148.036 1.377 lii.54i 55.319 TiyfAL EXPEYDITURE 94.856 53.319 150.175 134,920 NF.T INCOME 73.9091 (73,9(N) 1%8.988} Transfers t*tween funds NET MON'EMEYT IN 15 (73.W91 (73.909 <58,988) Total fund5 Brought for¥sard 398.flm 398,604 457.59? TOTAL FI,'NDS C"ARRIED FORWARD 324J)95 324,695 39&604 ,111 of the aboN'¢ r¢Adts ar¢ dm'N'¢d from continuin8 tiN.7t1CS ThLYc w'ere no Ixh¢r recolS¢d gain5 or Ios5C5 Oth than tlKJse sta1 atKJve. Moyements in furmb are dl0$ed in 15 the fin1 statemetits. The notes I pa8¢5 19 to J fomi ofdie finKIal s1]e1)ts. 16
500 miles (Charitable Association) B.4L.4NCE SHEET As at 31 December 2025 Nots Total Funds 2025 Total Futtd$ 2024 CllRRET ASSETS Debtors Cash at bank & in hand 324.695 398.604 324.695 398,(I LIAIIILI'I ILS Creditors amounts fallin8 du¢ ye 12 NEI. CIIRREYT ASSETS 324.695 398.ÉIM Creditors amounts fallin8 duc aftcr onc TOTAL F,T ASSF.TS 398&A)4 THE FIINDS OF THE CHARITY Restncted Incom¢ funds DesiOred fijnds General unrestricted funds 15 15 104.329 ??0.366 82,538 316.Cfj6 TOTAL CIIARITY FI,'I'DS 15 398ffj04 The finan¢iai matents ffl Mes 16 10 25 approved by the imwd of trustees on 16 Junc 2026 and signed on its t*hali"by'. O Giles Chaimian 17
500 miles (Charitable Association) ST.4TEMENT OF C.4SH FLOWS For the year ended 31 December 2025 Not¢ 2025 2024 Cash flows from operntiDg activitioy: Net cash provided by operating activrtKs (7S634) C4Jh nows frorn investiTrg etivities: Inicrcst received 12.772 16.441 Net ¢4$h provided by investing rtivi¢i 12.772 16.441 c.ash flows from finn¢in8 aCtivitieJ Net e4Ah provided by (used in) finneing activities Chyn%¥ in twuivlents in the re)rtIng period L.h & cash equivalents at the Ir8ummg ol. the year Chanye in cash & cash cqwvalenis due to exchange TBte mov¢m¢nts (73.759) 159.193 457.51r2 (150) 205 CAyh & ¢Ash equivNlents at the end of the reporting period 32469$ 398,604 NOTES TO THE STA TEMENT OF CASH FLOWS èl. Refonelli41ion of Tret iTreome to et ¢h now from operAtions Tol81 Fvndj 2025 Total Funds 2024 et income for the reporting period las per Ilie yl4l¢iii¢nl tsr riii#i)Lial ili¢yl Interest Decre m deb13 (DeCrelIre4sc m creditor5 173.7S9I (59,194 {12,772) {16.440) Net c#Jh provided by operating aetivities {86.431) 17q.&141 . Artlysis of cash and equivalents At l J*nuary Cxih flows 2025 2025 Other At31 changes December 2025 2025 C&sh in hand 398.(rf)4 173.%19) 324.695 Total cash &. cash equtb'alertts 39&604 (73.9(Y)) 324,695 18
500 miles (Charitable Association) NOTES TO THE FIN.4NCI.4L ST.4TEN4ENTS For th¢ 12 months ended 31 December ?0?5 ACCOUNTtNG POLICIES BASIS OF PREPARATION The accounts have been prepared under the historical coll conv¢niion and are in accordance with the Chanties and Trustees Inveslment (Scotiandl Act 2Crf)5. the Charities Accomts (Scodandl Re8u]ions •(Xh la5 amcndedl. the Financial RerK)rting Standard applicabl¢ in the UK and Republic of Ireland IFRS1021 leffeciive l JanLWy ?0151 aTKI AccoLmiing and Retx)rtJng by Chanties" statement of Recommended Practice applicable to chaniies rrepann8 their accolmts m accordance with the FinaneiAI RertIng StHndHrd Hl1¢ble In fv I IK And Repiibl nf Ireland {FR%Ifl21 (effertive I January 20151 Assets and Liabilities ar¢ Initia]ly r¢¢ognised at historicd c05t or tran5XtiLm valuc un1¢5s otherwise stated in the relevant accounting FM)Iicy or ne The rn141ee4 rnnsider thai iherp are nn mAteriAI imrert?iniie Aknrt the Ahililv nf ihp rhanty trb enntiniie as a going Concem for the foreseeable future Accordingly. the accounis have t*en prepared on a going ¢onc¢rn blsis. PL'BLIC BENEFIT ENTITY The fhariiAhle A%wiAlinfi me% ihe definitim nf a 1h11C knefil eniity iiThler FRS I n? KEY juDGEMErS AND ESTIMA TION UNCERTAINTY In preparin8 the financiai statements the trUeeS have r#X needpAI to exercise any Judgements which have had A Sl8nificant effect on the 8mounts rcco8nised m financ] 5tstements The. tnk8tee.8 dn nnl cnnsider ihAI there are Any of ewimHlinn imrertAinty At ihe reTr)ning dAte, which have a significant nsk of Causing 8 m&enal adjustment to the caryin8 amounts of &ssets and Iiabiliti¢s withln the n¢xl reF&n¥ penLXI. INCOME Inc¢)me Is rerrgnTrsed when ihe ehHrity 14 lryHlly entitled in the finNl% Any irfMinCe Crndili(s attached to the Income have becn me( li Is W0ble that the income will Ix T¢¢wvfyJ and the amount can measured reliably In accordance with the CltIeS SORP IFRS 102k no amounts e included in the financia] statements for service5 th)nated by volunteers FUND ACCOUNTING Re5tncted funds are to be used for sptfi¢ wrwses as laid dowTJ by the th. ExXIlture which meets that specified Frtrp)se Is Ched to the fuTKI L'nrestricted are donations and othcr inc<qning resources re£eis'¢d or 8cn¢rnted for general charitable w}$¢5. Designated fimds are unreth¢ted fund5 wlll.ch from time to tsm¢ may be egrnwked by the tnLSte¢s for particular purp)s¢s fw the futurE. 19
500 miles (Charitable Association) FOREIGN CL RRENCY Transactions In foreign currencies are c(mverted mto sterling thsin8 the 2verag¢ exchange rate during the }rarexcept for(1 I closmg balances •hICh areconirrted we%'2dtng rate at the bJlJnce sheet dale and12) movement of funds from GBP acco¢$ to forcigryj cutreTV bank accounts which are con&rrted at the actual exchange r&e & the lime Exchange rate thffertntts tak.cll Into account UJ arriving at the resu]i EXPENDITURE AND IIiRECOVERABLE VAT Extnditure Is r¢cognised on¢¢ kne Is a le or constructive obligation to make a payment to a third It i& probable th31 senlei))eni 11[ k reqll]r wid the aJ)iowit of the obliWIOTh ¥a]) be n)e&sur¢d reliably. ExFcnditure Is classified Ltnder the followmg actsvity hcadm8S.' Cosls of raising funds relate to th¢ costs In¢U¢d by the chan.ty in attracting third parties to make voluntary conmbutions io IL as well as the costs of any a¢iivities with a fundraisin PLirrK)s¢. Charitable activitie5 includes all expenditure directly reled to the obJe¢ts of thc charity and comprEse ihe followin¥ in respk¢t of ongoin8 activities which are. In summary the supwrt of P&.0 services In two Afncan nions'. the mana8¢meni of the P&.0 Service In Malawi which oITers these services assistance to the facilities In Malawi to maIn1n and 5UPFKirt thern. the supplv ot'P&U devi¢esto rryle in Mojawi and Lambia and the support lortraLnin8 ot'VgfLQUS personnel io suppkn the S(K) milcs projects where established For 2025 th¢s¢ comprised". Ma]awian project c05t5 attributsble to mana8em¢ni. operaiim and funth'n8 of the P&0 Service and fittin&F of P&.0 devices to patient5 at LION KOt)O proje the ¢S of colleciion fr(Kn Lusaka and d]"stnbution in Salim& pAaW1 of 50 PETTS. and pgns for 15 more, for KODO Zarnbian W0Ct the c05t5 of S{YIng a few P&0 devices io w people attendin the P&.0 depaTth)ent of UTH Tr31niTri project costs attnixthle to the ¢m51n& tr81ning of a M312all in CamEKyJia to m¢¢t the futur¢ needs of Malawi for qudified P&0 personnel Goirm•Kc incluiks thc cost of cKtLYnal audit. tru5tce cxwiscs and ad hoc thin1soT expenses Irrecoverable V AT 15 charged a5 a c05t against th¢ a¢tsvity for which the expenth'ture was Incurr&4. ALLOCATION OF SUPPORT COSTS Due to the strlure and organisation of the chan'ty. 5UPTK)rt C05t5 comprise solely of interesi paid and exchange rate differences whi¢h are tmx motenal to the overa]I charitable activity ¢xpenditU. A5 such these are not specifically allocated to individua] proJe¢ts. CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and shiyrt term high]y liquid Inv¢sDn¢nts with a short maturity of three months 01 less from the date of acqui51tion or opening of the dewTr51t or similar count. 20
500 miles (Charitable Association) NOTES TO THE FIN.4NCI.4L ST.4TEMENTS For the 12 months ended J l December 2025 DETAILED COMPARATII'ES FOR THE STATEMEI%TOF FINANCIAL ACTIVITIES Ilnrejtrieted Ftsnds 21124 R¥trieted FuDds 2024 Total 2Q24 IYC"OME FROII tA)nl0S ChIlbI¢ aciiviiies Investh)ents 6.423 7,221 16.441 45.847 52.270 7.221 16,441 45.847 75.9.72 TOTAL INCOME E.XPENDITURE 01%: Raising lunds Charitable a¢tiviii¢s 1.377 133.543 69.841 63.702 TOTAL EXPEi%DITI.'RE 71.218 63.702 134.920 ET IiYCOME/ IEXPENDITI,'Rkl 141.1331 (17JSS) (5&988) Transfers itween funds ET )I0%'EIIENT INI FiJNI DS (41,133) {S&9881 lotal Funds 14roughi Tro8rd 439.737 17.¥55 457,592 TOTAI. FI,'NDS CARRIED FnRWARD 391K(I 2. tIOliATION iinresiri£ted Restricted fr-tsftds Funds Total Tot1 2U24 Individuals & Cotporates Chantsble TnLSts 3.935 46.318 50.253 52.270 9.(X)I 9.(K)I Donation$ 55.319 59.?54 5?.270 All ]ncome in this cate8(ry arose from (lonations through fund ra]51ng 21
500 miles (Charitable Association) NOTES TO THE FINANCIAL STA TEMENTS F"or the 12 months ¢nd¢d 31 December 2025 INCOME TrROM CHARITABLE ACTIN'ITIES IJthTestrirted Funds 2025 Restricted fr-unds 2025 Tot#1 Funds 2025 Total Funds 2024 Malawi Project. devi¢¢ Sales 4.240 4.240 7.221 INC"O,MF. FROM II%N'F.STMEli'rs LIntrit litStrirted FTrdS Funds 2025 Totsl Fud3 Total Funds 2024 Bank interest 11772 12,772 16.441 EXPF.NDITI'RE ON CHIlRI'f.4BI.Tr: ACTIV'ITIES Uttreslricled Tr.nd 2025 Restricted Fund 21n.s Tot1 undA 202.5 Total Fund$ 2024 Malawi project KODO Zambian project 1>1)ty Improvement l¥oJect T'ravel Suppon Costs (note 6) Governance costs te 7) 55,119 138,430 1.749 1.461 4.814 101.386 1.749 1.461 4.814 6.970 23.829 912 349 321 912 349 321 136 357 148 036 133 54.1 Within the aExw¢ ¢Xkxnditure. there is a total of £13.285 trwnuw expenditure12024 £1.5081. SUPPORT COSTS Lnrestricted Restricted FuRd3 Totsl Totsl Funds 2024 21125 2025 Bank Char13es Exchan¢ rale drff¢r¢n¢¢s 342 I2() 349 349
500 miles (Charitable Association) NOTES TO THE FINANCIAL STATEMENTS For the 12 months ended 31 December 20?5 GOI'ERNAryCE C.OSTS Unrestricted Funds 2025 Restricted FuDd$ 2025 Total Fund$ 2025 Totsl Funds 2024 Tntst¢¢ F.XpS¢s Admjnistration .4utht 175 175 161 321 321 3S7 STAFF COSTS & YIIMBERS The Charity employed no stsff dunn8 th fingn¢wi year. 'I'RI1S'I'L Tr's. RTr'MIINLKA'I'IOII & KLLA'I"ED PAK"I"Y"I'RANSAC-I'IONS The trustees. neither received. nor waived any emoluments during the year. £146 was remibursed in eNnseS to one trusiee120?4 £1 and no reloied thlrd panv tranwtions CUrred. I AIIDIT FF.F.S Iincluded In goN'ernance Costs In note 5 atrM)ve) Ilnresirlrted Restrided Funds 2025 Total Funds 2025 Total 2025 2024 Audit Fees 11. DEWtORS Ilarestricted Funds 2025 Rostricted FuTrdJ 2025 Total Fundj 2025 Total Funds 2024 AL¢rued ih¢om¢ 12. CREDITORS: AMOI,'NTS FAI.I.ING Di E II'ITHIli ONE YEAR [TffjffStI?c¢ed Ratricthl Fund5 2025 Tot*1 Funds 2025 Totsl Funds 2024 21n5 A¢¢nlS
500 miles (Charitable Association) NOTES TO THE FINANCIAL STATEMENTS For the 12 monihs ended 31 December 2025 13. ANALYSIS OF liET ASSETS BETh'EEN FI'NDS I,nrestrirted Restricte Fund5 2025 Tot81 Fundj 2025 2025 Nd ¢urraM assets 724,695 324.695 14 ANAI.I'515 OF )EI' ASSEI'S BF.111 Tr.E FIINDS Uorejtricted FuTrds 2024 Rejtricted Trunds 2024 l otal Fundi 2024 Net Current 398.É 15. MON'EMENTS IN FIlDs Fund lTrcome blances & Gains 41 the $¢art of Ihe year Ejpwdiiyre I'Tnsfers nd balances •t the¢nd ol the year ReJtri¢ted funds Training - Maia Onesmile 10.(K(> 45.-319 { i o,o(x)) (45,319) Total restricted funds 55.319 {55.3191 Unre91ri¢ted funds DeSiwWd lid5 Gener funds 82.53¥ 316.( (82.5181 l (H.329 (1? 3181 (104.3291 Tot81 urtrestrided funds 198.( 324 695 TOTAL FI,'NDS 39 76 324 695 24
500 miles (Charitable Association) NOTES TO THE FINANCIAL STATEMENTS For the 12 months ended 31 tkcember 2025 NOTE 15 CONTINUED RESTRICTED FUNDS Training- MAIgwi The funds rais¢d in 2025 have IMI fidly spent. One Smi Funds receIed expressly foT (he Smile OT for dwea plent service are allocated to One Smile. The charity only uses funds in thc One Smilc Testncted fund for buying materials and components and other expenses of actual produchon and paying for devices. DESIGNATED FUNDS lThe trustees recognisc that. at the balance sheet date. in thelr opinion they had ¢tTeth"v¢ly made cominitmenis for the financial year ending 31 December 2026 to nd certain expenditur¢ relatinb lo the activities detailed in the trnst¢¢s' report, in r¢sp¢cl ofi I I managemeni and reporting from the P&0 S¢rvic¢. {2) the annual stock pur¢hase and shippin8 for the P&0 Ser&ice. (31 the ontinuing supwrt of the runningp costs of the P&0 Servi¢¢.141 the costs of conducting an annua] external auditing process tor the Q%qS at thc P&0 Dep3th¢nL and15) sponsonng thc Training of a Kfalawian studcni ai Exc¢cd in CaMbla. These committncnts have been assessed to totai £104,329 and will be th'scharbyed over the course of (h financial year. As at the bal8n¢e she dale, the charity th'd hold any rcsmcted funds for any of thcse cornmitm¢nts. 25