REGISTERED CHARTtY NUMBER.. 1003699 Report of th¢ TrLt$te¢$ and Unaudited Flnancial St¥tenJents flir th¢ Year Ended 30 Septcrnber 2025 for The Benevolent Fund of The College of Optometrists & The A55ociwtiOTL or Optomeirbts Harris Lacey and Swa Suit¢ I Thc RLvcrsid¢ Building H¢551e East Yorkshirc HU130DZ
The Benevolènt Trund of The College of Optometrists & The Association or Optometrists CoDteTht5 of the Financial Statements for the Year Ended 30 September 2025 Page Report olthe Trustee5 Independent ExAmiDer'J Report St#tement of Financial Attivities B¥lill¢¢ Sh¢et 10 Notes to the finaDeial Staten*nts I I to 17
The Bettevolent Fund of The College of Optometrists & The Assuriiion fy( Optomctrists HerI of thé Trustet8 ror the Ye4r Ended 30 September 2025 Thc trnstees pre5¢nt th¢ir Tewrt with the firn¢la] sraicments ef th¢ chariry for the yr eDd¢d 30 September 2025. The tru51ees have adopted the provisions ot. Accounting aiid Reporting by Clittiities-. Siatemeni of Recommended Practice applicable io chaiitL¢S piepaiing iheiT a¢¢ounis Jn accordance wilh Ihe Financial Reporting St3ndard applicable Jn the UK and Republic of Iland IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTMTIES Objtttive5 and alms The INsiees r¢vi¢w th¢ aims, objectives and &Clivities of the chanry each ycar. This report looks at what the chariry has achieved and the outcomes ofiis work in the reporting period. The Itustees TeiM)rt the success of each key acliviiy and the benefits the charity brought 10 those groups of people thai it is sa up to help The review aLw helps the trustees ensure the chanty's aitn, obj¢¢iivcs and aciivitics remained focu%d on ils stated purposes. Th¢ trust¢es have teferred 10 the guidance coiitained in th¢ Charity Comttussiort's general guidanct on public benefii when reviewing th¢ ch£lritys airns and objectives and in planning lis fiittire aclivili¢s. In particular. the trustees cotL%ideT how plalln¢d adiviti¢s will conttibute 10 the aims and objeGtiv¢s that liave b¢¢n $¢1. Objeets of the charity The pi)ncipal obJe¢t of the charity is to afford asSjStaiice by applicsltion of the Incomc of the charity, and all QT Such part or parrs of the capitsl. at $uth lime$ a]Ml tn such manner as the managing truste¢5 tnay in their ab$oluie discreiion fit, 10 or for the benefit of all or gny Necessiious membcrs and fortller members of Ihe College of Opromeirisrs. the A950¢iaiion of Opiometrisis or optorn¢trisls re¥isteied with The Gencral Optical Council and tlLeii' dependants. Formcr mernb¢rs and a550ciatc rnetnbets of histOTical Ophthalmic Optician professional representative organisations and IheiT dependants. - Oiher rn¢Tnb¢rs and fotmer Tnembers of the opiometric profession and their dependanls. - UndeTgrnduaie opiometyy students regi5t¢red with th¢ General Optical Council, on an individual discretionary basis. Signifi¢xn¢ ¢tlvltle$ The Iruste¢s ar¢ very grate1 10 the Association of Opiomctrists for th¢ir member5, donations to the Benevolent Fund. They ar¢ a150 iiJunensely gtaiefijl to Jndividuals who leBv¢ legacie5 to the chtTIIy 2nd lo organisation5 such as LOCS and individuals wiihin Ihc opiom¢ty profes$ien who make regular or one-off donatLOtIs. The Iruslees hgve conlinu¢d to explore ways of 12ising the profile of the Fund, in order to be more conspicuous lo potential appli¢2ttt5. The Collcgc of Optom¢trisls ICOOI and AssociaiioJJ of Opiometrisis IAOP) m¢th¢TShip departments r¢f¢r th¢iT tnembers 10 the Benevolent Fund if hardship cas¢5 Come to their attention. We have scen increasing numbeTS of referrnls following contact with the AOP p¢¢i support helpline and we ulilise our ttus*¢s' links with the AOP 10 faciliiate this route of ref¢tral. Enquiries have arrjved via th¢ websit¢ as well as Colleagues and orgaiiisalions which are awdre of ihc fund. Work is being und¢rlak¢n lo prvvide an online application fonn atKi simplify th¢ applicatiort proc. The existence 2nd work of the Bcnevoleni Fund within the world of optornetTy has bcen promoted via an article in the 'Opiomeiry Today, joumal. The trlet$ recognise the need for a more contemporary and inclusive working iiile in order to publi¢i$e the fL]nd's activities amongst stakeholder5 and have voted to adopt the worklng iitle of'OptomH¢lp'. Thc Fund ha5 a presence on Lllth¢dIn. It fosters r¢lBtL0115hips with other charities and avails itself of training oppominiii¢s throiigh lis m¢Tnbership of the Association of Charitabl¢ Organisations IACOI. The Admiwstrative Secretsry h8s att¢nd¢d fiher courses tor froniline workers, provided by Shelter. Page I
The Benevolent FuDd of The College of Optometrisis & TILe Association of Optometrists Report of the Trustee5 for the Year Ended 30 September 2025 OBJECTIVES AND ACTIVITIES Publlt bentfit The Iruste¢s hav¢ had regttrd to the Chatity Commission's gujdance on public benefit and its supplerneEltary guidanc¢ on public benefjl foi ehariiies for the pteveniion or relief of poverty and they b¢lievc that all of th¢ fvnd's activities fall within the guidanc¢. The only TTrici10n5 on the fid,8 5UPPOrt, aside frotn ¢X¢¢PliotL21 undeigraduaie hardship, are Ihai beneficiarie5 musl or have been. on the GOC Registei (or be the dependanl of somconc who hasl and they must dernonstrate financial nttd. 11 Is not the fund's iask to replace sraic benefits and it in many I14n¢e$ paid for an applicatti to receive expen advice on entLi1¢nnt5 and clain)ing. A number of th¢ fvnd's regular benefitiaries are in receipt of mcans-tested benefits, such a5 Universal CT¢dit and housing benefit. By implication, they are among th¢ poor¢r m¢mbeT5 of SQEiely. The Insiees take Ihe view that people annot rnove on with tlieir lives until their basic needs have been mcl. The grants made suppletn¢nt litniled incomes and pay for basic r¢quircmcnts. thus pr¢v¢nling poverty and allowing 4 Teastsnable quality of life. Other benefjciaries rcccivc one-off grant5 to tn¢¢t spe¢ifi¢ experw, OT short-i¢mi support to help rhem Ibrough a dIlculty whictl eventually be resolved. Pag¢ 2
The Benevolent Fund of The College of Optometrist5 & The A55ociation of Optometrists Report of the Tiustees for the Year Ended 30 September 2025 ACHIEVEMENTS AND PERFORMANCE Charitable a¢tiiities Th¢ charity's tDain activities and those it tries to help are described below_ Its efforts focus exclusively on opiom¢irists nd their depetanl$. and from time lo tiine. 11105¢ ID training. The chariry has uE)dertaken io further the Fund's ¢h#rit3bl¢ putP05e5 for the publjc benefji. During the financial year, thcre wcre 46 new enquiries asking about assistance, 10 of which tesulied in full applications. Onc was a rc-application. Th¢ 36 made iniiial enquiries but who did not pursue a full applieaiion were followed up. Th¢y dlded noi to apply due to an improvement Ltl their fiTcurtisiances. detlined foT olhtr reasons or did not r¢ply. Every enquiry r¢c¢iv¢d 1$ afforded detailed aiietLlion. 6 new granrs were awarded. 2 beneficiaries who were awarded gTant5 in previous ycars eontinued to receLV¢ assistance. The fund paid for the following items during the fiiiancial y¢aT' Gencral household expenses and bi115 for a specified period of time. - ContributiOTL to children's Christmas presents. Referrals to CA Manchester foT debt and bud8eiin8 advice. - Help towards fi]neraltheTeavetn¢nl Costs. Contributions to counKllio stl0nS to help deal with piolonged serious illness. allKi¢ty and nKlllal Wellbe8. Help with bills after reduced workkttg hours due 10 major surgery. Geneial Optical Council regisiraiion fees. Assisiing with mortgag¢ paytn¢nts when unable 10 woik whilst looking after ill dependallts. F.1gmination ¢qUiPTt]ent for a pre-registraiion sludeDI. Help with rent. During the tinancial year one beiiefitiary, who is pemiancntly disabl¢d following Seve illness, coniinued 10 receive long-term grattt assisiance. The ftLnd enabled pursuit of a fitness reit 10 assssi with disability. th¢ purchase of a tjew wheelchair and general quality of life improvement. This y¢ar the fiujd assisted several beneficiaries suffering ill healtli, in¢luduxg cancer. Th¢ fvnd ¢rKourages optometrists to tr2in. stsy and progress in th¢ii chosex ptofession. Th¢ fvnd ha5 seen an increasing nimiber of ¢nquiTi¢S from applicants whose main need is advice and assi5tan¢e, rather Ihan a cash grant. In such ca%¢5, the trust¢es rnay signpost ihc pplIcant lo specialist organssations or tharities that can provid¢. for ¢xample, firtartcial. debt managemeiii and budg¢titLg advice or psychological support. The trust¢¢s rtcognLS¢ that signpostmg to ouiside 50uro¢5 of a$sistartee is likely 10 be an incT¢asing role for the charity in illSlance5, for exajnple, where Control of personal expenditure provid¢s a better long-temi solution to financial Problems compared to a Cash grant thai only provides a tetnpixary fix. With regard 10 th¢ fund's changing Tol¢, as identified by the tnjstees, collaborative relations have been e5tsblished with p%r group ctLaritie5. the doctots, vets. dentists and pharnclsts. all of which fjnd themselves Jn the same situaiion. Mental health issues are becoming more commonplac¢ and th¢ Intstees are ¢ortsidcrin8 how to wvrk with other oigan15alions Iv provide approprjate typ¢s of care, e5pccially in the ¢ontCKi of long NHS waiting lists foi mentsl health s¢rvic¢s. In some eases, fijrtding priv81e counsclling in order that an applieartt ]night receive help sooner, can ¢nabl¢ an earlier remm lo work. restoration of flnatlrl independence and self-esieem. Page 3
The Benevolent Fund of The College of Optometrists & The Assotlation of Optometrists Report of the Trustees for the Year Ended 30 September 2025 ACHIEVEMENTS AND PERFORMANCE Complaints & CompliTnents There were no coniplaints rcceived. Many expressions of appr¢¢i8tion were ie¢eived from berteficiaries with messages such as.. 'I'vc jusi r¢ccived yow lat¢51 ¢rnail and I really appreciate ihe financial help given io me ai Ihis time. Please also eKteiid my thanks to boih Irhe Trustecsl- Ih¢y were really understsnding and very kdnd al both Zoom ¢alls and the help so far has been really appre¢Jal¢d. I would like to donate or give sornething back lo the fund ai a laier date- if you let me know as it has really been of huge benefit and help especially in my eirent circurnsiance5." "This opportunity and expTession of benevolence is unlike an>rthing I have ¢V¢T ¢ncount¢r¢d. I would like to extend trty gratitude to all memb¢r5 of the board, to yQUTself and as well as specifitally 10 IThe TNstsesl with whom we had our Tne¢ting. The Heine Iui is excellent. thank you. I have attached the invoic¢ I have r¢c¢iv¢d Ihus far fro th¢ Ilo¢a(ionl acci)mmoda(ion for Sepiember. Tlwik you all very much." 'Thtttth you fer thc me&ge. That is wonderful ii¢ws and rnuch appre¢iaied. Th¢ grani certainly has a massive iTtLpacl tsn ihe quality of my life, please pass on my appreciation." 'Thank you very rnuch indeed for your email ouilinitig Ihe support package sugge51¢d by the trustees. 1 fr¢1 rxi¥¢mely grate] io have been considered for suppori and am v¢ry thallkfui lo all iovvlved. This will help me nssIVely. Thank you so much again for YOUT help aiid kindness and please pass my appreciation on lo th¢ tnIst¢. l cannot thaT& and board mcmbcTS ¢nougli for all the help. I had advis¢d io contact Opliral Benevolent Fund even during my pre reg when I was stTuggling, even now I was hesJLqni. I could get Ihe courag¢ aft¢1 sp¢aking lo you. thanks. dll the good work you do. I must say, ir's not easy to ask for help but you atd board members do it in a way which 15 $0 dignified, ¢n¢oura8in8, 1 goi so much Jnformalion diiring Ihe meeting. I want to Say my heartiest thanks to you, trustees who conducitd th¢ tneeiing. all the board nmbers. 1 wish someday I could help someone the way I got help." FINANCIAI. RF,VIEW Financial POSLtioTh The trleeS are most appre£iative of the support from both the College of Optometrists 2nd AOP. Throughoui th¢ year each body also sUPtx>rts the Furtd by providing valuablc services and facilili¢s which 3551st greatly in Tninirnising ovcihcads. The Itustces are also irnmen5ely grateful lo individuals who leave legacies 10 the challry and to organisations such as LOC$ 8T individu21s within the OPiL)meiry profession who rk¢ regul or on¢-off donation$. Tli¢ trust¢¢s have conlinued to cxploic ways of iaising the profile of the Fund, itl ordeT lo be more conspieuou$ to poontial applicants. The Coll¢gc of Optotnetrisls ICOOI attd Associaiion of Opiomeiri815 IAOPI Enemb¢iship departments refer their members 10 the Benevolent Fund if hardship cases cojne to their attention. We have seen increasing numbers of referrals following coniact with Ihe AOP peer support helpline and we Ulilise our Ttustees, litths wilh ihe AOP lo facilitaie this Toul¢ of referral. EnquiTies have also arrived via the website As w¢ll zs coll¢agu¢5 organi5alions which are awttie of Ihe fund. Work is being und¢rlak¢n to provid¢ oiiljne application fortn. Page 4
The Benevolent Fund of The College of Optometrlst$ & The Asso¢latlon of Optometrists Report of the Trustees for the Year Ended 30 September 2025 FINANCIAL REVIEW Reserves policy The trustees are looking to increase ih¢ help whi¢h is given 10 Potential benefjcianes by encouraging more applicatiolls and processing Ilietn mo>re sp¢¢dily. This will tequiie further adminisiraijon resoLwce and will increase ihc cost of grants and support ¢osrs Ihcmsclvts. While th¢ fund a 5ignifi¢aiit capit1 base, Il does noi receive enough opcraling incotnc ro cover the proposed incTe45e in administration costs and grdni and support Costs. For this reason the tTusl¢es ar¢ adopting a new reserve5 policy which rccognises that tUre actLVlties will need lo b¢ funded, to a significartt extent. by rehjms rccciv¢d on the inve5tmcn15 underlying the capital base. They also recognisc that these retums are volatile and 50 the new reserves policy will be carefully reviewed tach year lo se¢ if it is being achi¢ved. This will include a review of the financial projections for the Fund to e[e that reliance on teDJrn5 on capital reTnains Te2E listtc. The trustees consider that ii is appropriate to tnaintain a core level of unrestricted res¢rves in ord¢r io.. protetl the long-tcm) financial su5tainabilily of the chaiity, provid¢ a buffeT against fluctuaiions sn invesitnent returns and itLCOme: - ettsure cot)lintsiry of 8rani-making aciiviiies during p¢riod5 of financial utKeTtsillry. Th¢ masn principles of the neiv reserves policy ar¢.. The Unrcstricted r¢5erve will be maintained at th¢ r¢al ter ¢quivaleni of the balance OJJ that r¢s¢rv¢ a5 at 30th S¢pl¢rnb¢r ?Q25", A new Designaied Fund ha5 been e51abli5hed which will only be used 10 hjnd grants and suppor¢ c051s for b¢n¢ficiaries. This Fund Idegignaicd by the trusicesl will itself be funded by p¢riodical transfers from the General FurKi, but only to the extent that unrestricted re5¢Tve5 r¢Tn8in ai oi above the targei level described above. If unre5trictcd reserves fall below the target Icvel, the rnjsiecs will review planncd expenditurc, including grant oJnmittnenlS and adminisiraiion costs. and take appropriate actio>n to eosure the lollg-ierm financial slabil2iy ol the clwity. The charlty has totsl r¢serYes of £2,593,631 (2024.. £2,375,717) including LEIV¢5tm¢nts. Designated Funds total £SOO,000, leaving £2,093.631 in General Funds. It needs 10 tnainiairt the investmeni ponfolio to to ¢arn sufficient income lo pay for the n2eds of its benefieJarL¢S. The charity wntinue5 to rtteiv¢ applications for a&sistsnce. It does not re¢ognise any evidertce that th siNation will alter as the size of Ihe profession h95 increased sub5tanlially over the last Iwo dccades and indicaiors are pointing to a worsening ¢coiiomy. Help is provided foi optomeirists and their (nli¢S ofteii duTing short term cnses, as well as for those WI have illness or circutnstanccs thai aT¢15kely 10 ¢ulwe for the longer terni. Our aijn is 10 also lielp those currently not iii th¢ workplace to TCtuTn to piaclice with the benefits of T¢5torinu their finance5 and 8elf esteem in [tY cas¢s. STRUCTURL GOVERf4ANCE AND MANAGEMENT Governing docum¢nt The orB2nisation is a registered charity in England #nd Wales. The charity is governed by lis set of n]les, a5 am¢nd¢d during the year ended 31 Decembcr 2017 as a r¢suli of the atnalgaTh2tion of The Benevoleiit Fund of The College of Optomeirisis WLrh The Charitable Fulld of The A$sociaiion ofopiical Praclirioners. Related partles Following a c1w¢ of siructur¢ during 2016. five of thc Icn trustees are appointed by The Coll¢g¢ of Optomeiri$t$ and another five arc appoin*d by Th¢ Association of optont[ists. Page 5
The Benevolen¢ Fund of The College of Optometrists & The Assotiation of OptometrLSts Reporl of the Truylees for the Year Ended 30 Septernber 2025 STRUCTURE. GoVENANcE AND MANAGEMENT Risk statCTncnt The tnjstccs are all Tegularly appraised of the fijrtd's firtttrtces and have discussed and ideniified firwncial risks. Th¢ board has not idenlified any i]n£nediale or short-iemi mailers of concern. Fixed cosis and oihei runnin8 txpcn5C5 ale regularly reviewed and remain at a low level. Th¢ charitys fi[nCe& in the form of Lnvestmcnts. arc l¢lt 5uffici¢nt ro cat¢r for anticipated n¢¢ds. However, the growth of Ihe opromeiry profession, and chang¢d Dature of employment L¥alDSt hisioric comparaiors. t]ecessitste a regular review c>f th¢ funds L2pabiliiies. Incorporation The Charity continued working with a law firm its the yeoi to change its s1$ to an incorporal¢d charity. The CIlty was granted incorpoiaied status late 111 2025 and is undergoi1 the n¢ce.Esary Iransitioii process accoTdiiis 10 Ihc Charity CoTttsnission. Incorporation will rnean that tru51¢¢5 will have litnitrd liabiliry for Einy debis incurrcd by the Gharity and thi5 will provid¢ rnore favoutable conditions when nominating and recruiting new Itu$ie¢s. Th¢ Charity officially became irttorporatcd posi year end on l Decembu 2025. REFERENCE AIYD ADMINISTRATIVE DETAILS Registtsred Charlry number 1003699 PrlnelpAI address 55 Colchester Road While Colrte Colchester C06 2PW Trustees VGBush A Patcl J Ma¢naughion T Majiihia A Fa7.Iknie D Ehrlicli K Dattani F Marcktti A McClun¢ R Brougliion Independent Eiaminer Harr Lacey #nd Swain The Riverside Building Hesslc East Yoikshire HU13 ODZ Billkers CAF Bank 25 tt£S Hill Avenue Kings Hill West Malling Ktnl ME196DA Page 6
The Benev(klent Fund vf The College of Optvmetrist5 & The Association of Optometrists Report ol the Trustees for the Year Ended 30 September 2025 REFERENCE AND ADmlSTRATIvE DETAILS Solicitor5 Rollits LLP Cilad¢l House 58 High Strcei Hull HUI IQE Investnjent maEhxgers Cazertove Capital Manauemcnt 12 Moorgate tnnden EC2R 6DA Honorgry offic¢r5 MF V Bush- Chair MF D Ehrlich- Vi¢e Chair Mr T Majithia- Treasurer Adminlstratlvt secretary Miss Lynne Brown Assistant to Administrative secretary MTS Naialie Glasg Wébsitt .oplicalbenfund.com THE TRUSTEES Th¢ tru51¢es wtLO setved dwitt¥ Ihe yetr and up to the dale of ikns report were as follows.. Vivian Bush Ichairl. Mr Daniel Ehrlich {Vice ChaiTI, Mr Keval Daiianj, Mr Richard Biougjitoji, M5 Pranc¢sra March¢tti, Ms Alison Mcclune. Mts Aishah Fazlanie. Mr T1har Majithia ITTtasllTerl. Dr Jane Macnaughlon and Mr Anuj Pa*1. The trustees have no ben¢fi¢ial interest in the charity. The organisalion is a charitable OFganisation registered as a chariry on l August 1991 in England and Wal¢s. All trustees giv¢ their time voluntyTily tslld rwiwobgsfjis from the charity. Any expen5e5 reclaimed from th¢ ¢tL&rity are set out in the #¢¢ouDIS. Ai and sied on its b¢half by. V G Bush- Trustee Pag¢ 7
Independent Examiner'5 Repor¢ to the Tru5tet$ of The Btthevoleni Fund o(The College of Optometrl$t5 & The Assotiation of Optometrists Independent examiner's reptsrt to the tru$iet$ of The Btnevoltttt Fund of The College of Optojnetrists & The A5S0flatlon of Opfometrists report to the charity trustees un my examination of ihc accounts of The Ben¢vol¢nt Fund of The College of Oplotntttists & Thc Association of Optom¢trists (the TFUStI foy the y¢aT ertd¢d JO September 2025. Resport51billtles And basis of report As the charity trust¢e5 of th¢ TTUSt you are responsible for the preparation of the accounts in accordance with the r¢quir¢ments of the Charities Aci ?01 I I'the ACVI. I report in respect of my exaTninalion of Ihc Tnisfs a¢ceunls carried out under Section 145 of the Act and in tarrying out my examinaiLOll I have followed all applicible Directio[15 given by the Chariry Q}rtUSsion under Section 14515llbl of Ihe Act. Independent eTaminer'J statement I have ¢ompleied my examination. I coiifinn that no tllat¢rial matt¢15 t*ve come tfy my atteniion in connecuon with the exaininaiiou giving rn¢ cause to believe that in any maieTial respect.. accounting r¢cords W¢Fe not k¢pt In Tespeci of th¢ TnJ$i as required by Section 130 of Ihe A¢1: 01 the accounts do not accord with those Twords," or the accouiils do not coniply with the applicable Tequiremenls conccming the fomi and content of accounts set out in the Chariiies (Aceounis and Rcporlsl Rcgulaiions 2008 oth¢T than any requiiemeni thai Ihe accounis give Irue and fair Vlew which is tjol a rnattei con5ideTed as part of an independtni exainination. I have no con¢ems and have corn¢ across lio other ]llallers in connection wilh the examinaiiott to which attention should b¢ drawn in Ihis repon in order io enable 8 prOT uDdeT5tanding of the aecounis to be reached. Laura Drew BFP ACA FCCA Harris Lacey and Swain Suire I Th¢ Riverside Buildtll8 Hessl¢ East Yorkshire HU13 ODZ Dale". . ool 100..06.......... Page 8
The Benevolent Fund of The College of Optometrist5 & The As50ciation of Optometrist5 Statement of FiDanci#l Attlvlile$ for the Year Ended 30 SepteEnber 2025 2025 2024 Tvtal fund5 UJtrestri¢ted nds Notc5 INCOME AND ENDOWMENTS FROM Donations and legacies 26.339 38,172 lEivesim¢nt incoin¢ 81,463 90.221 Totaj 107.802 128.393 EXPENDJTVRE ON Raising fijnds 2.872 2,627 Charitable activitits Assistance to M¢nib¢TS & Metnb¢rs' D¢p¢ndants 43.211 57.451 Oiher 6,516 Total 52.599 60,078 Nel gain5 Otl illvestsnenis 162,711 185.955 NET INCOME 217.914 254.270 RECONCILIATION OF FUNDS Toral funds brought foTrvard 2,375,717 2,121.447 TOTAL FUNDS CARRIED FORWARD 2,593,631 2.375,717 The ttotes forni part of th¢5¢ financial gtatsmertts Page 9
The Benevolent Fund of The College of Opiometrlsts & The As$Otiaiion of Optometrists Balanct Sheet 30 September 2025 2025 2024 Toial Unresiric¢ed fvods Note$ FIXED ASSETS Inve8irnenlS 2.575,901 2.359,829 CURRENT ASSETS Debtors Cash at bank 10 542 22,391 350 22,933 22,933 23.283 CREDITORS Amounls fallthg due within one year 15.2031 17.3951 I ET CUIiRENT ASSETS 17.730 15,888 TOTAL ASSETS LESS CURRENT LIABILITIES 2,593,631 2.375,717 NIT ASSETS 2.593.631 2,375.717 FUNDS Unrestricied funds 12 2.593.631 2J75.717 TOTAL FUNDS 2,593,631 2,375,717 20 Apr 2026 The flnancial statements wer¢ approved by ihe Board of Tntee$ and authoris¢d for 1$5U¢ and werc SI¢d on ils beknlf by.. on V G Bush- Tiustee T Majithia- Trustee The notes fotm part of these financial siatcments Page 10
The Bertevolertt Fund of The College of Optometrists & The Association of Optometrist5 Note5 to the Finwnci¥l StitemÈtht$ lor the Year Ended 30 Septernber 2025 STATUTORY U¥FORMAIION The B¢n¢volent Fund of The College of Opiomeirisis and The A55ociation of Optomeirisi$ is an wiincorporaied chariry regisiered with the Charity Cottjtnission in Englatd & Wales. The Charity otficially became incorporai¢d post ye#r end on l December 2025. The Tegisiered office address and PTincspal place of business is 55 Colchestei Road, While Colnc. Colchesier C06 2PW. ACCOUNTING POLICIES Basis of preparitlg the financial statement5 The financial statements of Ihe thily, which is a public benefii eniity under FRS 102, have b¢en prepated in accordattce with the Charit1¢5 SORP IFRS 1021 'Accounling and Reporting by Charilie5'. Statement of Recomrnended Practite applicable 10 charities Prepari their accounts in attordan¢¢ with the Financial Reponing Standard applicable in th¢ UK #lid Republic of ITelartd IFRS 1021 leffeciive l January 20191.. Financial Reporting Stand3Td 102 'The Financjal Rep(irting Standard applicable in the UK and Republic of Ireland, aiid Ihc Chariiics Act 2011. The financial 513tements have been prepared under the historical cosi convcniion. with the exception of iuv¢sitnents which are included at market valu¢. as Lnodifjtd by the revaluation ofeertaiti assets. Assets and liabiljties are initially recogni5¢d al hisiori¢al ¢o$i or transaction value Ullless otherwise 51aied itl the T¢l¢vanl accountin¥ policy or lloie. Monetary amounts in these fittancial statements are rounded lo the nearest wtLol¢ £1. Tkne fula[ $12lemeDrs are presenied in srerling which i5 also the fijnciional currency of the Charity. Critical accounting judgements and key Sources of e$timatlokn uneertalThty In applying the financial reporting framework, the irusiees have made a nuinber of subjective judgements, for cxample in respect of significant accountin8 estitnales. Esiimakes and judgcmcnis are continually ¢valuat¢d aiid ar¢ based on historical cxpciienct and othcr factors, including extKclatiorLg of future events that are believed 10 be reasonablc under the circumstances. The rtaMTe of the estimation means the actual outcom¢s could diffei from those estitnaies. Any significant estimates and judgement5 affecting these firtatLcial siaiements arc detailed within the relevant accounting policy below. Income Income 15 recognised when th¢ charity has cntLtlement to th¢ fvnds, any p¢rforman¢e Conditions attached lo ihe Income have been me¢ it is probable thai the income will be received and rhai the amoullt can be measured Voluniary incoin¢ received by way of donaiions and gifts arKi is included ID full in th¢ $1a*meDt of fjnattcial activities when receivable. Income from legacics is account¢d for on a r¢c¢ivablc bagi$ $0 long a$ eoiiilement. certainry of receipt and mcasurability conditions have been saiisfied. Incom¢. gains or loss¢$ on inv¢$lffl¢ntg held by Ihe charity are accounted for on acctua15 basi$ and allo¢aied 10 imrestrictsd fijnds. Bank inietesi is Jncludtd in the income and expenditUT¢ account on an accruals basLS. Pagc 11 continu¢d...
The Benevolent Fund of The College of Optometrists & The A550¢i2tion of Optometrists Notes tLI the Fin¥Dci41 Stttment$- tothtinued for the Year Ended 30 Sept¢mber 2025 ACCOUNTING POLICIES- eontinued Expenditur¢ Liabilities are recoBnised as expenditur¢ when.. there is a Itgal or conslrucrivc obligation committing the chaTity 10 rlot expendimre, - it is probabl¢ that an ouillow of ¢¢onomic benefiis wjll be requirtd in s¢ttl¢n]ent the amount of the obligation can be measured reliably. Expendinjre is accourtied for on att accJw15 basis and ha4 been classifjed undeT hettdin8s th21 a¥gregate 211 cosi relaied to th¢ category. Where costs Cannot be diTeeily attributed 10 particular FKadings they have b¢¢n allorat¢J to activitieg on a basis consistcni with rhe use of Tesourc¢8. Govetnance costs include ihe managemenr of the charity's assets, organisational tnana8emeni and Compliance with constitutional and statutory Tequirements. Gran15 offered subjtxt io ctsrtditions which have noi been mei at year end dale are noted as a cornmittnenl bul not accnd as expenditure. Taxation The Charity is cxempi from tax on its charitable activitie$. UnT¢slricted funds are donations and other iwomin8 resources received or g¢n¢ral¢d for the charitable Purposes. Public btntfit entity The charity meeis the defillitLOll of a public b¢n¢fit ¢tLtity undeT FRS 102. The tnanagjng trustees do noi consider that ther¢ 4r¢ any 50urr¢s of estilltl0rt uncertainty at rhc rcy)rling date that have a $igDifi¢ant risk of causijjg a maierial adjustment io th¢ carrying atnounts of assets and liabilities within Ihc neKt ieporting period. Flnonci21 instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic fjnancial instruments. Basie fittantial instsvm¢nts ar¢ initially r¢cognis¢d £lt ITansaclion valuc and subsequently measurcd at their settl¢m¢Dt value with the exteplion of bank loans which arc sub5equ¢nily m¢asured at amortised cost using the effeciive interesi method. Fixed A$$et Investments Fixed asset investmcnt8 are measured initi211y at cost and subsequently at fair value at lh¢ reporting date. Changes in fail value are Te¢o8nised as Income or ¢xpetLditure in th¢ Statetnent OF Fitw]cial Aciiviiies. Pag¢ 12 coniillucd...
The Benevolent Fund of The Colltge of Optometrists & The Assoeiation of Optometrists Note5 to the Financial Staternents. ¢onlirtued for the Year Ended 30 September 2025 DONATIONS AND LEGACIES 20?5 ?024 Dollaiiotts Legacies 26,321 18 32.535 5,637 26,339 38.172 INVF.STMENT INCOME 2025 2024 Othcr fixed asset inv¢stm¢nts Deposit account IDteTest 81233 230 89.960 261 81.463 90,221 RAISING FUNDS Inwo$tnnt mAll#Etment ¢osts 2025 2024 Portfolio manag¢m¢llt 2.872 2,627 CHARITABLE ACTIVITIES COSTS GTant futlug of D¢Cl Costs Support osts Assistance to Memb¢T5 & M¢mbtrs' Dependartts 14.955 25,388 2,868 43.211 TRUSTEES, REMufEK4TION AND BENEFITS Ther¢ were no trustees, remuneration or other bettefiis for the year ended 30 S¢pt¢mb¢T 2025 noT for the y& ended 30 Scptember 2024. Trustee5' expen5e5 There weT¢ no trust¢¢5' ¢%P¢ll$¢8 paid for the year ended 30 September 2023 nor for the year ended 30 September 2024. Page 13 Conlinued...
The Benevolent Fund of The College of OptometrLSts & The Associgtion or Optometrist5 holes to the Financial StaterneDt5- CQlltinued lor the Year Ended 30 SeptembeT 2025 COMPARATIVES FOR THB STATEMENT OF FINANCIAL ACTIVITIES UnrestTiCted furtds INCOME AND £Tr4DOWMEI%TS FROM Donatiotjs Artd legacies 38,172 Inv¢stsn¢nt incotn¢ Total 128,393 F,XPENDITURE ON RaisJiJg funds 2,627 Charitable activities AssiStan¢e to Metnb¢is & Members, Depertdants 57,451 Totxl 60.078 Nct gains on investments 185.955 NET INCOME 254,270 RECONCILIATION OF FUNDS Totsl fijnds brought fornvard 2,121.447 TOTAL FUNDS CARRIED FORWARD 2.375,717 FIXF,D ASSF.T INVESTMENTS Listed inv¢strnents MARKET VALUE At l October 2024 R¢valuations 2,359,829 216,072 At 30 S¢pteTnber 2025 ?.575,901 NET BOOK VALUE At 30 S¢pt¢DJb¢r 2025 2.575.901 At 30 Septernber 2024 2,359,829 Th¢Te W¢Te no irtveslmcni assets outsidt the UK. Page 14 C)lInutd...
The Benevolent Fund of The College of Optometrlsts & The A550ciatlon of Optometrists Notes to the FlThanclal Stalements- eontiTrued for the Year Ended 30 Septernber 2025 FIXED ASSET LW. VLSTMENTS- continued Cost or valuation at 30 September 2025 is rtpresented by.. Lisicd invesimetsts ValuatlOD in 2024 Valuahon in 2025 2,359.829 216.072 2,575,1 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Prepayments 542 350 CREDrroRS: AMOUNTS FALLING DUE WtfHLN ONE YEAR 2025 2024 Trade cr¢dit015 Other creditors 1,843 3,360 4,395 3,000 5.203 7,395 12. MOVEMENT IN FUNDS Nei mov¢m¢nl irt funds Transfeis between funds At 1.10.24 At 30.9.25 Unrestricted futtds General fund Desiunai¢d fund 2.375.717 217,914 1500,0001 500.000 2,093,631 500.000 2,375.717 217,914 2,593.631 TOTAL FUNDS 2,375,717 217,914 2.593,631 Nci movcment in fvtlds, in¢lud¢d in the above are as follows.. Incoming T¢SOUTtes Resource5 expended Movement in funds losses Unr¢stricted funds General nd 107,802 152,5991 162,711 217.914 TOTAL FUNDS 107.802 152.5991 162.711 217,914 Page 15 ¢onlinued,..
The Benevolent Fund of The College of OptometTjSts & Th¢ Assoeiation of OptometrL8tS Trlotes to the Flnan¢lal Statements- contlnued ror the Year Ended 30 September 2025 12. MOVEMENT IN FU1)S- eontinued Cornparatives for movement in funds Net mov¢rn¢nt in funds At 30.9.24 1.10.23 Unrestricted fund5 Gcn¢ral fund 2,121,447 254,270 2,375.717 TOTAL FUNDS 2,121,447 254,270 2,375,717 Comparative nel moveTncnt in fijnds. Incliided in the above are as follows.. Incoming r¢wur¢¢s Resources expended Gains and losscs Movement ID funds Unrp5trltttd fllllds General fund 128,393 160,0781 185,955 )54,270 TOTAL FUNDS 128.393 160.078) 185.955 254.270 A curr¢nt year 12 months and prior year 12 nN)nths cornbined position is as follows.. Net movtineni in futtds Transfers betiv¢¢n nds .10.23 30.9.25 Unrestrieted fuDd5 General fvnd DeSiared fund 2,121.447 472,184 1500,0001 500,000 2.093,631 500.000 2.121,447 472.184 2,593,631 TOTAL FUNDS 2,121,447 472,184 2,593.631 A current y¢ar l? months artd prior year 12 rnonth5 combined net m0Vennt in funds. included in th¢ aix)ve aTe as follows.. Incoming resouTC¢5 Resources expended GALns and losses Movemeni in funds Unrestricted funds G¢n¢ral fund 236,195 {1 l2,677} 348,666 472,184 TOTAL FUYDS 236,195 1112,677) 348,666 472,184 Pag¢ 16 continued...
The Belltvolent Fund of The College of Oplome(rLS¢s & The A550ClXtion of Optometrists r*otes to the Finau¢i#l $12ttmtnts- contlnued lor the Ye¥r Ended 30 September 2025 12. MOVEMENT IN FUNDS- coDtinued A new D¢5ignated Rirtd h25 been established which will only be used 10 fvnd grants and support costs for beneficiaries. This Fd Idesignat¢d by the truoee$l will iiself be funded by periodirnl transfers frotn thE G¢Deral Fund, depcnding on iyheihcr th¢ policy for the Unrestricted r¢s¢TV¢ IS being achieved. The Reserves Policy can be lound thin the Trustees, Report. A3. CONTINGENT LIABILITIES The Fund has a curttni long iemi Commitment lo a benefTeiary of xrourtd £6,000 per annum, expected io continue for the duration of the beneficiatys life. 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 September 2025. Pagt 17