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2023-03-31-accounts

Creating a clearer future

Annual Report 2022 -2023

A welcome from our new CEO 2030 stralegy. which you can read about here. This progress is a testament to the dedication of our exceptional staff. supporters. truslees. and volunteers. who share our commitment to providing universal access to eye care services in under-resourced communities. Dear friends of Vision Aclion. As Vision Action Chair and new CEO. it is our great pleasure to share with you our Annual Report for the year ending 31st of March 2025. year of continued transformation which saw the combining two international eye health organisalions with iich histories in the sector. This year we enabled more than 170.000 people to access affordable glasses and eye health care. helping improve vision, productivity, and well-being of individuals and communilies across Ghana. Ethiopia. Sierra Leone. and Zambia. You can read more about our impact in the following pages of this report. Having overcome the challenges posed by the COVID pandemic in recent years. Vision Aid Overseas and Vision for a Nation (VFANI decided to establish a long-term partnership, enabling them to synergise their efforts and expand their ambitions. This transition also contributed to the rebranding of Vision Aid Overseas as Vision Action. a name that emphasises the importance of proactive engagement and aligns well with our strategy for 2030. Our success has been underpinned by valuable partnerships and collaborations. parlicularly within the eye health and education sectors. We continued to shine a light on the need for greater priorilisation of stralegies to address Uncorrected Refractive Error IUREI globally. through our presence on the steering committee for the Coalition for Clear Vision. This coalition. in collaboration wilh private. non-prolit, and NGO sectors, aims to ensure that everyone in need of eyeglasses has access to them by 2050. VFANS team in Ghana became Vision Action staff. and VFAN s CEO and a trustee joined the Vision Action Board of Trustees. VFAN'S founder. James Chen. has also become a Patron of Vision Action. This uniting of knowledge and resources. coupled with our refreshed identity allows us to pursue our mission to reduce vision impairment through achieving universal access to affordable eye care and glasses. To conclude. after another successful year. we are delighted to share that we are betler equipped than ever to pursue our vision that no one lives in poverty because of poor eyesighl. and no one lives with poor eyesight because of poverty-. Throughout Ihe year. we have made remarkable progress in advancing our Nora Colton, Chair James Riggs, CEO 21Page

Our Impact ress towards our Strate 2020- 2030 Goal: To support the achievement of Universal Eye Health Coverage with a focus on reducing visual impairment and blindness caused by Uncorrected Refractive Error. Our programmes this year continued with a focus on the following three strategic objectives.. 1) Supporting the development of Human Resources for Eye Health (HREH) This year we empowered 242 primary and secondary school teachers across four countries with the skills to perform vital primary eye care screenings for schoolchildren. They are now adept at identifying eye conditions. offering referrals. and championing eye health awareness. In Ghana. we also equipped 50 primary healthcare workers with essential training. enabling them to deliver primary eye care serdices within schools. primary health facilities. and communities. In Ethiopia. our vision41nclusion- Leave no Child Behind project. supported by USAID. has trained 42 health extension workers in the Amhara region wilh training lo screen and provide assistance to out-of-school children. In partnership with 31 dedicated volunteers. Vision Action has maintained its commitmenl to offering continuous professional development to eye heallh practitioners across Ethiopia. Sierra Leone. and Zambia. leveraging our innovative remole mentoring platform. This dedication to increasing and empowering the eye health workforce will remain a cornerstone of Vision Aclion s agenda in the years to come. We are dedicated lo working hand in hand with professional associations at the national level, collaborating closely with volunteers. and forging strategic alliances with academic institutions. 2) Strengthening essential eye health services Through our school eye health programmes in Ghana. Sierra Leone. Zambia and Ethiopia 150.102 school children and teachers benefited Ihrough eye screening. refraction. provision of eyeglasses and Ireatment of eye conditions. Through this work. we are getling ever closer to our goal of integrating eye health within the national school health and nutrition programmes in each country. Vision centres supported by Vision Action have screened more than 42.933 people, refracted 16.532 and issued 14.585 pairs of glasses in the past12 months. They generated a combined income of £135,795 which is used as a revolving fund for vision centre management and restocking. Furthermore. 3 dedicated pool of Primary Eye Care workers. operating both within health facilities and through community outreach efforts. have extended their reach to benefit an additional 12.176 31Page

individuals. further amplifying our mission to provide essential eye heallh services to those that need it most. 3) The engagement and mobilisation of communities Community engagement, active participation, fostering ownership. and driving transformative behaviour change communication remain steadfast pillars in our mission. During the year we mainlained our commitment to increasing knowledge and understanding aboul eye heallh amongsl the population by engaging with communities to raise awareness on eye care through radio. focus group discussions. community meelings. at schools, during home visits by communily health workers and at vision centres. This also included targeted behaviour change communication to eliminate barriers and stigma around eye care and wearing of spectacles. There remains much to be learned in this area and it will remain a priority in the coming years. 41Page

Programmes Sierra Leone The project -Essential Community Eye Care Services in 2ombali & Koidu Districts. Sierra Leone . supported by Optometry Giving Sight and Vision Mundi concluded in November 2022. In Bombali district, Ihe projecl included the relocation of the optical workshop to be housed within a purpose-built structure al Njakeni Regional Hospital. reducing the burden for patients having to travel across town to get their glasses. Through its Vision Cenlre and Outreach activities the project reached 25.921 people with eye screening services. 5.547 spectacles were dispensed and over 400,000 people reached through radio. community sensitisalion and awareness raising engagements. In November 2022. a new project was launched in the Port Loko district which marks the fifth dislrict in the country supported by Vision Action. The package of inte￿entionS includes equipping a vision centre. training two new Oplometry Technicians and providing eye care services to over 5.000 people in 2 years. With support from the National Eye Care Coordination unit, Iwo already-trained Optometry Technicians have already been assigned to Port Loko to begin providing basic eye care service, awareness raising campaign. community sensitization and outreach services. and two new trainees are due to start their course in the Gambia in July 2023. 51Page

We were very fortunate to receive a generous legacy gift for a project entitled "Anthony Eyes . named after the benefactor. The aim was to provide 500 free cataract surgeries and glasses in five districts: Koidu, Bombali. Kailahun. Bo and Kenema. By the end of March 2023. 404 surgeries had been completed. The first two sets in Koidu and Bombali have been reviewed and rated with 980/0 producing a good outcome. Glasses have been issued to those who need them. This exercise was well appreciated by all especially the Ministry of Health and Sanitalion oflicials. Below is a quote from a key government official. Vision Action has been working in partnership with Innovations for Povety Action. the University of Minnesota. and Queens University 2elfast to design the research project -sierra Leone Sees to Learn The project will be assessing the education and mental health outcomes of providing free eyeglasses lo students aged 12-15 years with uncorrecled errors. Funding from USAID has already been secured. and the project. targeting 160 schools in Freetown and Bo cities will start later in 2023. Vision Action Sierra Leone continues to enjoy strong partnerships with the Ministry of Health and Sanilalion IMOHSI and the bAinistry of Planning and Economic Development IMOPEDI. Through this. we collaborated with the ministry and other organisations to organise the first- ever NGO festival in February which provided 8 plarform to create awareness about eye care. On World Sight Day we were part of history as the National Eye Care Programme INECPI launched its first-ever Nalional Eye Care Policy. We participated in its development and launching together with othei partners. -It h8s been 8 Lwutiful week to #s8vesight. Our 8m8zir)g te8rn of #eyehealthheros, le by cataract surgeon Lansana Sheriff. was in the Kono district where Ihey performed 105 free #sightrestoring eye surgeries. These surgeries were supported by MOHS and our long-time partner Vision Action. In 2023. we aim to amplify our efforts to end

avoidableblindness in #Sierra Leone. one palient at a time. Our patients are our

priority and as always it is an honour to be able to restore vision for our people. We are very grateful to the NAanagement and Kono Dislrict Hospital for their wonderful support. Many thanks to Vision Aclion for making things possible. Together we can achieve

universaleyehealth for all Sierra Leoneans

Dr. Jalikatu Mustapha INational Eye Health Pr ramme Mana er & O hthalmolo istl 61Page

Ghana During the year, our focus was on managing the Iransition of programs and staff from Vision for a Nation Foundation CdFANI to Vision Aclion. We also actively delivered on ongoing projects. including the USAID-CBP-funded Child Eye Nealih in Norihern Ghana Projecl, the Medicor-funded Innovative Eye Health in Ghana Project. and new grants from Coopervision and Optometry Giving Sight for the 'Eye Care for All. project. as well as Else Kroner-Fresenius- Stiftung IEKFSI for'scaling-up Community-based Eye Care in Ghana.. covering seven of the fifteen districts in the Upper Easl Region of Ghana. Our successful closure of the Innovative Eye Health in Ghana. project. funded by Medicor Foundation and implemented in three districts in the Upper East Region. involved training 120 primary health care workers in Primary Eye Care IPECI and reaching 27.869 school children and teachers with eye health information and screenings. We recognise the importance of imovative approaches to address stigma and misconceptions and enhance compliance with wearing spectacles for program sustainability. Facility-based PEC conlinued in Talensi and Bongo districts. with trained nurses using Peek software and tablets for real-time dala flow and monitoring of PEC activities. We aim to strengthen capacity and expand PEC integration into the primary healthcare system throughout the Upper East Region. In June 2022, USAID'S Child Blindness Programme ICBPI awarded the "Child Eye Health in Northern Ghana Project to Vision Action. Deliverables included training 100 PHC workers in PEC and screening 35,000 schoolchildren and 2.000 teachers. By year-end. 57.479 school children were screened. along with 2.108 teachers. and 50 healthcare workers and 50 teachers received training. Collaborating with HCP Cure Blindness. we're assisling 28 children suspected of having cataracts. Coopervision s support enabled the screening of an additional 9.530 individuals in the Bawku Wesl District and the Kassena Nankana Municipality. The EKFS-funded "Scaling-up Community-based Primary Eye Care project aims to set up a Vision Centre at Bolgatanga Regional Hospital in the Upper East Region. reducing delays in accessing comprehensive refraction seNices. All preparations are currenlly underway lo complete the set-up of the Vision Centre in summer 2023 which will ullimately serve the entire Upper East Region and adjoining regions. The project also includes nurse and teacher training in PEC. vision screening for school children. teachers. and community members. and raising eye health awareness. During the year. Vision Action revisited the discussions with Challenges Worldwide and the Challenges Group in Ghana to design a social enterprise model for vision centres in Ghana. making affordable glasses more accessible. A market study has been conducted. and the 71Page

next steps involve developing the financial model and business plan to be tesled in a selected dislrict next year. A significant challenge is the shortage of optometrists. with only one available full-time in the Upper East Region. On-going engagements with the Department of Optometry and Visual Science of the Kwame Nkrumah University of Science and Technology IKNUSTI and the Department of Optometry and Vision Science of the University of Cape Coast IUCCI aim to address human resource development. research. and evidence generation in the h'eld of eye health. 81Page

Ethiopia The project -Ensuring School Eye Heallh ISENI for rural communities in Ethiopia implemented in the Oromia Special Zone surrounding Finlinne was delivered in 38 schools in partnership with the Oromia Health and Education Bureaus. This multi-year project is in its second of 3-years. supported by Else Kroner-Fresenius-Stiftung IEKFSI. It involved training 88 schoolteachers to conduct eye screening for the school children and training 58 school head teachers and 58 Parent Teacher Association IPTAI members to support eye he311h awareness in schools and communities. Additionally, 22 Health Extension Workers INEWI were trained to conducl eye screening for out-of-school children. Through Ihis. we were able to screen 20.497 people119.175 school children. 651 out-of- school children and 671 leachersl for vision and eye health problems. Of those. 9201711 school children, 45 out-of-school children, 104 leachersl received treatment with vision corrective glasses and/or eye drops while 66 were further referred for further examination and trealment. The USAID-funded 'Vision41nclusion: Leave No Child Behind" initiative aimed to integrate School Eye Health into the exisling School Health and Nutrition ISHNI program in partnership with Save Ihe Children. Unforlunately. the project faced challenges due to security instability in the Amhara region. Nonetheless. some achievements include- 91Page

Training 64 teachers and 20 Health Exlension Workers (HEWS) for primary eye screenings. beneliting both school and out-of-school children. Screening 20,218 individuals for eye conditions1929 out-of-school children. 18.707 school children. and 582 schoolteachers from 20 schools). Idenlifying 1.970 individuals with eye conditions who were referred to the mobile eye clinic team1228 out-of-school children. 1,663 school children. and 791. Developing a digital data-capture tool linked to the DHIS2 system to enable real-time eye health data collection and sharing in coll8bor8tion with the Save Ihe Children Waliku team. To enhance essential eye health ser￿iceS and to ensure a continuum of care for palients who have eye care needs. a vision centre will be established in the Amhara Region before the project concludes next year. This centre will serve referred cases from schools and provide professional eye heallh services to the broader community. Utilizing trained teachers and health extension workers for primary screening proved eflicient in reaching more children with eye care. However. some trained teachers in certain schools reported false positives. leading to a higher case burden on mobile eye clinic teams during their visits. This challenge is a common issue in projects where non-eye heallh professionals conduct screenings. These insights. along with other learnings. are guiding the relinement and improvement of the school's eye health methodology. Collaboration with the Ministries of Health and Education is ongoing through the School Eye Health Technical Working Group ISEHTWGI, chaired by Vision Action and operating under the National Commitlee for the Prevenlion of 21indness INCPBI. This year, the SENTWG collectively developed a national leacher training program for school screening. which received endorsement from the Ministry of Health as the official guideline for all collaborating parlners. A scalability study for school-b3sed eye health was also conducted by consultant Ai Chee Yong in partnership with The Ethiopian Oplometry Association and Queens University Belf8sI and supported by the Bealrice Laing Trusl. 11 is currently in the pipeline for publication. IOIPage

Zambia

1 htps://bmchealthservres.biomedcentral.com/artcles/10.1186/s12913-022-08350-2

student al Queens University Belf8St. Both are exfremely helpful in informing our work to Scale up school-based eye care service& We continue to forge slrategic partnerships to support the integralion and expansion of school eye health and PEC in Zambia. One significant initiative involves the agreemenl befv￿een Ihe International Association for the Prevention of Blindness IIAPBI and the East. Central and Southern Africa College of Nursing IECSACONI lo incorporate PEC training inlo the nurse's curriculum. Consullations with key stakeholders. including the Nursing Directorate in the Ministry of Health. the Nursing and Midwifery Council. and the ECSACON Zambia Chapter. are ongoing to outline a roadmap. We also continued our support for essential eye health services through the vision centres previously established by Vision Action. In co113boration with Onesight, we are exploring streamlined approaches to enhance the procurement chain. hnancial management. and sustainabilily of eye care services within these centres. Onesight has established a National Optical lab. which produces glasses for all the Vision Centres thelve set up in the counlry. By linking all Vision Centres to this system. we aim to establish a uniform and systematic approach to Vision Cenlre management in Zambia. 121Page

Volunteering in Action We are fortunate to have continued to receive the invaluable support of professional volunteers to support our programmes. Our volunteer remote working groups. sel up in previous years. conlinued work to update our Iraining malerials in Low Vision. Training of Trainers. Paediatric Optometry. and Refraction. These groups we managed by Judith Trigg. Vision Aclions Volunteer Programme Lead with valuable input from our country teams and partners. During the year. additional materials were developed on Glaucoma detection. to help address the high prevalence of blindness caused by untreated glaucoma. -It is fantaslic to be able to provide continued support and professional development lo Optomelry Technicians in Sierra Leone without even having tojump on a plane!- Fiona 8uckmaster Volunteer and Mentor In May. working in partnership with HCP Cure Blindness. two Professional Volunteers travelled to Ethiopia and. working with two local Optometrist facilitators. delivered a lo-day course in Paediatric Optometry and Case Management to10 trainees from Ethiopia and two from Ghana. The course was based in Addis Ababa. with practical sessions held at the Menelik11 Hospital Paediatric Clinic. Trainees came from across Ethiopia to help build capacity and geographical spread of paediatric sepiices. With Professional Volunteer support we continued to review our Education and Training Programme thal is delivered through our Volunteer Programme and intend to continue this work next year. Since the covid 19 pandemic. the way we learn has changed with more emphasis on remote training. which not only has a low carbon footprinl but is more accessible to more trainees. We continue to look at how we can safely and successfully deliver more remote training or a mix of remote and face-to-face delivery. The formalion of new volunteer task group has been a collaboration of our seniorteam. country directors and board. and has our diversity and equality values at the very heart of it. This is a very worlhwhile projec I s a win-win for both Mentor an Mentee giving an insight into eye care in both countries and the standards required.- Once again. this year. volunteer Chris Wright has continued to provide invaluable support to our monitoring. evaluation and data mana9ement systems. During Ihe year volunteers continued lo sign up to become mentors forthe remote mentoring programme trial launched last year. creating mentoring Noel Meehan Volunteer and NAentor we 131Page

relationships with Optometry mentees in all 4 of the countries we work in. who may have limiled opportunity for continued professional developmenl. Volunteers shared their optical knowledge and experience through short-term menloring partnerships. The trial is exploring how well a mentoring scheme is utilised. and the benelit it brings to mentees. mentors and eye care programmes. With the generous support we received from BritFord Bridge Trust at the end of last year. we were able to donate laptops, dongles. and data packages to the Vision Centres in Kenema, Kailahun. Koidu and Makeni in Sierra Leone, so the Oplometry Technicians can more easily access remote mentoring and learning. 141Page

Legal and Administrative Information

Registered with Ihe Allied Health Professionals Council. Minislry of Health. Uganda.

Registered with Ihe General Optical Council. Directors and Trustees INote the Directors are here3fter called "Trustees-l Nora Collon (Chairl Hannah Faal, Ving Fai Chan" Ronnie Graham lan Kerr Chief Executive Officer, James Riggs Naomi Nsubuga

Richard Rawlinson

Reoistered Office Tony Hulton Freedom Works, Spectrum House. Beehive Ring Road, Gatwick. West Sussex RH6 OLG Ahalya Subramanian Katie Hepworth July 22

slepped down on Jane Smith stepped down in November 2022 Auditors Richard Place Dobson Services Ltd. Chartered Accountants. Registered with the Medical and Dental Council of Nigeria. The Gambia Njedical and Dental Council. 1-7 Station Road. Crawley, RHIO IHT ** Registered with the General Optical Council, hAalaysia. Jmbcr 4027804 IEngland and Walesl

recorded at Companies House as Katharine Hepworth CharTtI" Wum 1081695 IEngland and Walesl 151Page

Report of the Trustees for the year ended 31 March 2023

The Board deals with the overall pay and reward of the Chief Executive Officer and other members of the Senior Management Team. all of which f811 within a formal salary policy. The Board recognises the contributions made by all Ihe Vision Action staff and Professional Volunteers and wishes lo thank them accordingly. Vision Action and the Charity Governance Code The Truslees nole the Code is designed as a tool to support continuous improvemenl. This summary of how Vision Action is aligned with Ihe Code reflects our current position for each area of the Code. We will report on furlher progress each year. Org?( nisc1tional purpose The Board is clear about the charity s aims. We strive to deliver these effectively and sustainably. To this end, in 2020 and 2021 respectively, we rigorously reviewed hvo major elements of our work.. our volunteering programme, and our recycling programme. In addition. the Board receives a wide range of performance information from staff. enabling assessment of how well the charity s aims are being delivered. Leadership Vision Action Chair. who has been in the role for over 5 years, and the previous Chair worked together to design and deliver a review of how well the Board worked. Since Ihen, we have strengthened the Trustees contribution to the organisation. enabling better support and guidance to staff. Integrity The Board is keenly aware of the importance of public conlidence and trust in charities. We have improved various aspects of our governance in the lasl year. Examples of this include strengthening and updating policies such as Safeguarding and Avoiding Bribery and Corruplion. We have also updated our expenses policy to ensure even slronger conlrol of how we spend donors money. All Truslees are required to actively state that they are aware of the contents of all these policies and are committed to executing them. Decision-making, risk, and control We have set up groups within Ihe Board to focus more closely on Programmes. Finance and Fundraising. These committees enable Trustees to give detailed consideration to complex issues. and then present these issues back to Trustees as a whole. with recommendations for decisions. We have improved how we budget and forecast expenditure. and in particular. strengthened how we work with funders to ensure that the cost of delivering our projects is fully reflected in donations. 171Page

Board effectiveness The Board has recently changed how it operates. with Trustees now having signilicantly more involvement in and commitment to various working groups intended lo deliver the charity s aims. We will report on this in the next annual report. Diversity range of nationalities. ethnic backgrounds and professions is represented on our Board. and recruitment for Trustees includes advertising in a range of publications. However, we are keen to increase representation from the countries where we work. Openness and accountability We publish performance data on all our objectives. We are also open to discussion with Ihe public and with our members. 181Page

Financial Review Overview This year we have recorded a modest surplus.. Ihis is due to: A challenging funding environment where the organisalion has struggled to achieve full cost recovery on projects. Costs associated with the takeover of Vision for a Nation Foundation. including programmes in Ghana. Costs associated with rebranding the organisation lo Vision Action. from Vision Aid Overseas. In tolal. we raised the income of £1.609k in 2022123. a150/0 increase from last year12021322: £1.397kl. Over this period. we spent £1,241k on our charilable activities. a 510/0 increase from the previous year 12021122.. £948kl. Expenditure on raising funds of £272k was 2.4 times more than the previous year 12021/22- £113kl, due to rebranding expenditure of £211k in 202212312021122- £Nill. Our nel income/expenditure for the year ended 31st March 2023 was a surplus of £96k compared to a surplus of £35Ok in 2021/22. Income Our income is derived from a variely of sources. These include voluntary income from members and supporters through one-off or regular giving. sponsored evenls and community fundraising- appeals and campaigns,. philanthropic major donor giving,. grants from institutional donors. trusts and foLiYd?tipnf. nd pp.rtfjaro' and legacies. Restricted Unrestricted 2023 2022 200.000 400.000 600.000 800.000 1.000.000 191Page

Total income in the year of £1.609k12021322: £1.397kl was made up of £780k unrestricted income, an increase of 30/0 against the previous year12021122.. £758kl- £106k designated income12021122: £Nill.' and E723k restricled income, an increase of13% against the previous year12020121.. £659kl. Sources of Income Sources for income 2022/23 Indiwdual donations and eotmmunity fundraising Corporate fundraising Unrestricted grants (￿her) 46Y. 26% Unrestricted grants (Transfer from Vision lor a Nalionl Professional donated hours 16% oy. 2% Don8tiDns in kind 2° L898CI85 Ch8rit8ble activities Unrestricted donations from individual and community fundraising saw a decrease to £105k12021122- £202kl due to a decline in regular donations. 2021122 unrestricled donations included a donation from Optometry Giving Sight IOGSI as a resull of the closing down of its UK operations. An unrestricted grant from Vision for a Nation as part of the transition of their programmes also contributed to offsetting increased expenditure. The total received from Vision for a Nalion (Charity no. 11401231 in the year was £422k12021122.. £155kl, including £IOOk designated income. The increase in restricted income to £723k 12021122.. £639kl reflected an increase in programme proposals submilted for funding and a success rate of those being approved. Four signilicant new programmes started in the year- l USAID Childhood Blindness Programme (addressing School-Based Eye Heallhl in Ghana. a corporate partnership with Coopervision for Ghana. a new programme in Sierra Leone funded by Optometry Giving Sight IOGS) and a grant from The Else Krone-Fresenius-Stiftung IEKFSI for Ghana. Legacies income, which has previously been a signifi'cant source of our unrestricled donated income, dropped in the year raising only £253k. a decrease of 2F/o against the previous year s £547k. We were very fortunate lo receive a small number of large legacies this year. We recognise Ihat the scale and timing of legacy income are mostly oul of our conlrol. 201Page

Professional donaled hou￿ decreased by 750/0. at £8k 12021122.. £SOkl as volunteer assignments conlinued in line with our strategy on volunteering and as required by the countries of operation. Expenditure We spent £1.241k on our charitable activities (overseas projects. raising awareness. and the sustainability project), an increase of 510/0 against the previous year s £948k. The increase is due lo the expansion of the Ghana programmes and organisational rebranding. £1,204k of this expenditure was on our overseas projecls (representing 97 % of our total spend on our charitable activities). We received £2k of general overhead cost recovery from our restricted funded programme grants and unrestricted appeals which reduced our overall support cost expenditure12022123- £35kl. In addition to general cost recovery, we received cost recovery against direct salary costs of £9Sk12021122.. £55kl. Cost recovery in 2022123. therefore, tolalled £95k12021122: £90kl. Cost recovery is a significant funding slream. and we continue to work towards a model of full cost recovery on all future programme funding. stainability ising aware roject ess 2023 Rebrandi ations and... ainability P ing awaren Rai ss 2022 Overseas ro Rebrandin Donalio and legaci 200.000 400.000 600.000 800.000 1.000.000 1.200.000 1.400.000 e5erve5 PQllCy The objective of our reserves policy is lo mainlain reserves to enable the Charity to deal with unexpected difficullies and interruptions to the flow of income without a signilicant impact on our operations and programme activity in the short term. To meet this policy, the Board considers that reserves are required to enable us to support normal operations for three to six months, which represents unrestricted reserves of between £135k to £270k. Due to ongoing uncerlainty in the economic climate and with traditional unrestricted fundraising channels still impacled by COVID-1g restrictions. the Board has deemed il prudent to retain unrestricted reserves over six months of operating costs. providing a grealer level of security for Ihe Charity through these challen9ing times. 21 IPage

Unrestricted cash as of 31st March 2023 was £500k12021/22- £59Skl and represents between 8-11 months of forecast unrestricted cash oufflows. The Board continues to closely monilor forecasl cash flows to ensure the Charity has the liquidity to meel oblig81ions as they fall due. I iiieiit pi)1 icy The objective of the investment policy is to minimise risks to the Charity s assets: any surplus funds. therefore. are to be held in short-term interest-bearing deposit accounts. ralher than investments. On 31st KAarch 2023, the Charity held no shareholdings. having sold all preference and equity shareholdings valued in the previous years. Restricted funds Restricted income received in the year was £723k against expenditure of £730k. On 31st March 2023, we held a balance of £229k in restricted funds. all of which we expecl to spend in 2023124. Restricted fund expenditure kept pace with planned project plans. Risk management The Trustees actively review the major risks that the organisation faces through a risk register. updated bi-annually. and believe that safeguarding our reserves. combined with an annual review of the controls over key systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and conlirm thal Ihey have established systems to mitigale them. The risk register details 26 organisational risks. with the most medium and severe risks relaling to the fundraising environment. external factors impacting programmatic activily. reputational risk. and compliance with legal and commercial obligations. Plans to mitigate these risks are in place. including a new fundraising strategy. maximisation of cost recovery with a robust cosl recovery policy. monitoring of internal and external environmental factors and the implementation of swift action plans responsive to changing circumstances. a new communicalion strategy. and close monitoring and review of all legal and commercial obligations. Approval of this Report This report was approved by Ihe Board of Trustees on 4th December 2023. Signed by order of the Board Lucy Soar Treasurer Nora Colton Chair 221Page

Fundraising Report Charities (Proteclion and Social Investment) Act 2016 slalement Tolal income for the financial year ending 31s1 March 2023 is £1.609k. a 15% increase from last year 12021122.. £1.397k). Our key approach remains strenglhening key relationships and supporting collaboration where applicable. As a small but ambitious charity. we know that building long-term, sustainable relationships with all our supporters is the best use of our resources and enables our vision and mission to flourish. Appeals We saw a predicted decrease in engagement through our appeals. in line with industry averages. and considering the Cost-of-Living crisis and several other impacts. The post-pandemic landscape continues to be challenging and we. like many other charities have felt the impact from COVIE) conlinue into this year with donor fatigue and stretched resources. We were incredibly fortunate to be able lo continue to remain in a positive financial position throughout this lime, with the supporl of our partners, members. volunteers and several trusts. to which we are very grateful. Over the past year. we benefited also from several successful appeals,. our flagship Christmas appeal went out through our networks and raised more than £20kand we were delighted to be able to work again with The Big Give to secure matched funding. making Ihis larget possible and a big thanks to 811 our donors who gave. Community Fundraising Unrestricled funding is vital to any chariiy so il can pursue ils vision and mission. withoul being restricted tightly on its spend. We conlinue lo diversify our income streams. building on existing success whilst pursuing innovative and strategic avenues. This year we will be working towards our new Fundraising and Communications slrategy lo support and build the fundraising team to capacity. giving them the resources and funding that is needed for the next chapter in our charity. This year we had the exciting challenge of partnering with Seven Hills. a marketing and Brand specialist to support us in our re-brand and we were delighted with the results. The refreshed. invigorated and impactful new brand and website has enabled us to communicate our cause in a clearer. more delined and appealing way. enabling donors and partners to engage with us on a whole new level. We are delighted to say that we retained the vast majority of our regular donors and have plans in the coming years to grow this income stream again. Similarly, we are thankful to our extensive member base, who by making a linancial contribution each year, are helping the charily to thrive. The members also form an integral part of the organisation. many sitting on focus groups to help steer and guide the charity on subjects such as Education and Training and the Membership package itself. Our London NAarathon Golden Bond places continue to be valuable assets. This year. we were thankful to the four runners who trained hard and fundraised even harder for us and achieved not only their personal bests but managed to boost their targets and in some cases far outstrip them. 231Page

Partnerships Alongside our partnership with Seven Hills to support our re-brand. we have also been delighled to partner with several other organisations. We were enthused by another 2-year partnership wilh our long-standing corporale partner PALA, as they have explored new and ethical methods to designing and selling their products. they have gone from strength to slrength and through this partnership they are funding the restoration of a new Vision Centre in Tonkalilli dislrict. Sierra Leone. By working with our country teams to develop high-quality programme proposals. Vision Action conlinues to grow income from institutional funders. corporate foundations. and other trusts. all of which are willing to support large-scale. multi-year programmes that have a high impact and are more sustainable. We have also been fortunate lo conlinue our close alliance with Optometry Giving Sight IOGSI in the US where we have partnered with them alongside Coopervision, the award-winning Novider of eye care solutions such as contact lenses,. the partnership. released in 2022, is supported our programme in Ghana through sales of Coopervision s incredible Biolnlinityo product. The amazing imagery and footage that we have worked on in partnership is a credil to the impact they have helped achieve. We are proud to retain the support of the optical sector. wilh more than 200 practices throughout the UK raising funds for Vision Action. With reciprocal marketing in particular, these partnerships are helping to raise awareness as well as funds. We were also incredibly proud and grateful to once again benefit from several legacies in the past year. which while these came in much less than former years 1£253k. a decrease of 2F/o against the previous years £34Tr1, they have still been able to make a very real difference. To be the charity of choice in someones planned giving is a privilege and is a testament to us building good relationships over many years. As part of the Fundraising Strategy. we are wrlners wilh Make a Will Online and offer a free Will writing service to our donors online through our website to help further strengthen this income stream. Fundraising approach Vision Action relies on several different fundraising approaches to raise funds cost-effectively from a range of sources, raising awareness of our work and allowing supporters to contribute in ways that are most appropriate for them. This includes bul is not limited to fundraising through digital and online campaigns. emails, letters and press advertising. from legacies. events and community fundraising.. from philanthropists. trusts. foundations and corporate parlners, and our members and other regular supporters. 241Page

Fundraising standards Vision Action fundraising staff are members of the Institute of Fundraising. and we pay a levy to the Fundraising Regulator. and as such abide by the Code of Fundraising Practice. We abide by the Fundraising Regulator s Fundraising promise and strive to ensure our fundraising is open. honesl, legal and respectful. We are registered with the Fundraising Preference Service which enables members of the public to control the nature and frequency of direct marketing approaches that they receive. including fundraising communications. Through the Fundraising Preference Service website. members of the public can choose to stop email, telephone, post andlor text messages from a selecled charity. During the financial year 2022125 no member of the public has opted oul of contact from Vision Action via the Fundraising Preference Service. Fundraising on our behalf Vision Action requires any professional fundraising agencies working on our behalf to adhere to our fundraising standards and this is specilied in our contracts wilh them. We work with several corporate parlners who support our work through linancial and non-fi'nancial donations, as well as employee and customer fundraising. We also receive one-off support from companies. Some of our corporate partners sell goods or services and donate a proportion of the sale price to us. For example. we have Commercial Agreements with several eyewear companies that donate a specified portion of their sales to Vision Action. These agreements are governed by legal agreements in line with current consumer and charitable law. Monitoring of fundraising activities and protecting people in vulnerable circumstances Vision Action is committed to ensuring that we always treal the public sensitively and respecffully. taking special care to protect people who may fi'nd themselves in vulnerable circumstances. Complaints Vision Action has an established complainls procedure. In the year ending SIST March 2023. we did nol receive any complainls from members of the public about our fundraising activities. This does not include expressions of dissatisfaction relating to our use of specific fundraising methods. Statement of Public Benefit Vision Aclion is committed to those living in poverty and with limited access to affordable eye care. ensuring increased access to eye tests and properly dispensed spectacles. In doing so. we enable people to work and children to attend and be successful at school. We have referred to the Charity Commission s general guidance on Public Benelit when reviewing our aims and objectives and in planning our future activities. In particular. the Trustees consider how planned activities contribute to the aims and objectives they have set. The principal charitable aim of Vision Action is to light poverty by transforming access to eye care in developing countries. through working in partnership with and under the direction of the countries national eye care plans. Vision Action is fully committed lo sustainability in each of the countries within which we work. 251Page

Statement of Trustees. Responsibilities The trustees who are also directors of the charily for the purposes of the Companies Act 2006, present their report with the linancial statements of the charily for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191. Company law requires Trustees lo prepare linancial statements for each linancial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming/outgoing resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statemenls. Ihe Trustees are required to: select suitable accounting policies and then apply them consistently. observe the melhods and principles in the Charities SORP.. make judgements and estimales that are reasonable and prudent., state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the fi'nancial statements- prepare the h'nancial statements on a going concern basis unless it is inappropriate to presume Ihal the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charilable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for Ihe prevention and delection of fraud and other irregularities. In so far as Ihe Trustees are aware.. there is no relevanl audit information of which the charilable company s auditor is unaware. and The trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The Truslees are responsible for the maintenance and integrity of the corporate and linancial information included on the charitable companys website. Legislation in Ihe United Kingdom governing the preparation and dissemination of linancial statements may differ f rom legislation in other jurisdiclions. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 261Page

Auditors Report Opinion We have audiled the linancial statements of Vision Action (the charity'l for the year ended 31 March 2023 which comprise the statement of lin8nci81 aclivities. the balance sheet. the statement of cash flows and notes to the financial statements. including significant accounting policies. The fi'nancial reporting framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. Ihe financial statements- give a true and fair view of the state of the charitable company's affairs as of 31 March 2025 and its incoming resources and application of resources. for the year that ended., have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auclitors responsibilities for the audit of the financial statements section of our report. We are independenl of the charity in accordance with the elhical requirements thal are relevant to our audit of the h'nancial statements in the UK. including the FRC s Ethic31 Standard. and the provisions available for small entities. in the circumstances set out in note to the financial statements. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suflicient and appropriate to provide a basis for our opinion. Colic rolEltinii tii rioiiig c.oncern In auditing the fi'nancial stalemenls. we have concluded that the trustees, use of the going concern basis of accounting in Ihe preparation of the linancial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions th81. individually or collectively. may cast significant doubt on the charity s ability to continue as a going concern forat least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees concerning going concern are described in the relevant sections of this reporl. 271Page

Other information The other information comprises the information included in Ihe annual report other than the linancial slalements and our auditor's report thereon. The trustees are responsible for the other information contained within Ihe annual report. Our opinion on the linanci81 statements does not cover the other information and we do nol express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the linancial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparenl material misstatements. we are required to delermine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing to report in this regard. Mfjr ttors on whicli we Iiro. roqLiirc.(I ti-) I"( rr by exception We have nolhing to report in respect of Ihe following matters in relation to which the Charities (Accounts and Reporlsl Regulations 2008 require us to report to you if. in our opinion- the information given in the fi'nanc131 statements is inconsistent in any material respect with the Irustees, report,. or suffi'cient accounting records have not been kept- or the financial stalements are not in agreemenl with the accounting records: or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in Ihe slatement of trustees, responsibilities. the trustees. who are also the directors of the charity for company law. are responsible for the preparation of the h'nancial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary lo enable the preparation of linancial statements that are free from malerial misstalement. whether due to fraud or error. In preparing the linancial statements. the truslees are responsible for assessing Ihe charity s ability to continue as a going concern. disclosing, as applicable. matters related lo going concern and using the going concern basis of accounting unless Ihe trustees either intend to liquidate the charitable company or to cease operations. or have no realislic alternative but to do so. Auditor's respon£ibililiefi for the Iiijdit of tho linii nci", ,Itement We have been appointed as auditors under section 144 of the Charities Act 2011 and reporl in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the linancial statements as a whole are free from material misstatement. whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is nol a guarantee that an audit conducted in accordance with ISAS IU Kl will always detect a material misstatement when it exists. 281Page

Misslalements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements. The exlent to which our procedures are capable of detecting irregularities. including fraud, is detailed below. Irregularities. including fraud. are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain suflicient appropriate audil evidence regarding compliance wilh laws and regulations thal have a direct effect on the determination of material amounls and disclosures in the fi'n3ncial statements. to perform audit procedures to help identify instances of non-compliance wilh other laws and regulations that may have a material effecl on the financial slatements and to respond appropriately to identilied or suspecled non-compliance with18WS and regulations identilied during Ihe audit. In relation to fraud. the objectives of our audit are to identify and assess the risk of material misstatement of the fi'nancial statemenls due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of m81erial misstatements due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. However, it is the primary responsibility of management. with the oversight of those charged with governance. to ensure that the entity s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing the risks of material misstatement in respect of irregularities. including fraud. the audit engagement team made enquiries of managemenl. and those charged wilh governance. regarding the procedures relating lo identifying. evaluating and complying with- l. laws and regulations and whether they were aware of any instances of non-compliance; 2. detecting and responding to the risks of fraud and whether they know aboul any actual. suspected or alleged fraud- 3. the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulalions- As a resull of these procedures. we consider the most signilicant laws and regulations that have a direct impact on the h'nancial statements are FRS 102, General D3t3 Protection Regulations. Companies Act, Charilies Act 2011, Charities Statement of Recommended Practice and employment law and regulations. We performed audit procedures to detect non-compliance. which may have a material impacl on the fi'n3ncial statements. These included reviewing linancial statemenl disclosures and evaluating advice received from external advisors. There were no signilicant laws and regulations we deemed as having an indirect impact on the linancial statements. 291Page

The audit engagement team identilied the risk of management override of controls as the area where the financial statemenls were most susceptible to material misstalemenl due to fraud. Audil procedures performed included but were not limited to lesting manual journal entries and other adjuslmenls and evaluating the rationale in relation to any significant. unusual transactions and transactions entered into outside of the normal course of business. As a large portion of income is received through legacies or grants that relate to future years. the audit engagement team have highlighted completeness of income as an area of signilicant risk. Audit procedures performed included but were not limiled to. proof in total testing of income recorded in the accounts compared to the grant awarded per the grant contract. 11 was also identified that the risk of fraud resulting from activities abroad was signilicantly high. Audit procedures performed included but were not limited to. transaction testing on a sample of overseas expenditure and the evaluation of other independent audit work performed in this area. A furlher description of our responsibilities is available on the Financial Reporting Council s website at.. htt s://www.frc.or .uklauditorsres onsibilities. This description forms part of our auditor's report. e of (Jijr ro.porf This report is made solely to the charity s trustees, as a body. in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work has been underlaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullesl exlent permitted by law, we do not accept or assume responsibility to anyone other Ihan Ihe charity and the charity s trustees as a body. for our audit work, for this report. or for the opinions we have formed. Darren Harding ACA. FCCA. DChA (Senior Statutory Auditor) Richard Place Dobson Services Limited Chartered Accountants Statutory Auditor Ground Floor 1 7 Station Road Crawley West Sussex RHIO IHT 301Page

Statement of Financial Activities for the year ended 31 March 2023

Balance sheet as of 31 March 2023 Notes Unrestricied Reslricled 2023 2022 As restaled Fixed assels Tangible fixed assets 34.957 34.957 998 Current assets Debtors Cash al bank 275.260 500.112 5.372 275.260 841.811 1.117.0 353.186 638.688 991.874 341.699 341.699 Creditors - arnounls falling due within one year 10 (72.5751 (75.957 1148.5321 166.7611 Net current assels 702.797 265.742 968.539 925.113 Total assels less current liabilities 737.754 265.742 1.003.496 926.111 Prowsions for liabilities 137.1221 137.1221 155.8591 Nel assels 75.754 228.620 845.924 870.252 Funds Restricted funds Unreslricled funds Gener31 funds Designated lunds Prior ye3r adjuslmenl Total funds 17 228.620 228.620 205.190 573.432 164.322 573.432 164.322 578.773 91.660 15.371 870.252 16 737.754 228.620 966.374 The company is entitled to the exemption from the audit requirement contained in section 477 01 the Companies Act 2006 for the year ended 31 March 2023. although an audit has been carried out under section 144 01 the Charities Act 2011. No member of the Company has deposited a notice. under section 476. requirin9 audit of these accounts under the requiremenls of the Companies Act 2006. The directors acknowledge their responsibililies lor ensuring that the company keeps accounting records vvhich comply with section 386 01 the Act and lor preparing accounts vvhich give a true and lair view ol the slate ol affairs ol the company as al the end ol the h'nancial year and ol ils incoming resources and application ol resources. including ils income and expenditure. lor ihe financial year in accordance with ihe requirements ol sections 394 and 395 and which otherwise comply with the requirements ol the Comp8nies Act 2006 relating lo accounts. so lar as applicable lo the company. The accounts have been prepared in accoidance with the provisions applicable to ch8rilable companies subject to ihe small companies regime. This report was approved by the Board of TrLJslees on 4th December 2023 and signed on ils behalf by.. Lucy Soar. Treasurer Company Number.. 4027804 The notes on pages 34 to 51 form pait ol these accounts. 321Page

Statement of Cash Flows for the year ended 31 March 2023

Notes to the Accounts for the year ended 31 March 2023

c) Incoming resources Income is recognised when the charity has an entitlement to the funds, any performance conditions attached to the item of income have been met. it is probable that the income will be received and the amount can be measured reliably. For legacies. entitlement is taken as the earlier of Ihe date on which either- the charity is aware Ihat probate has been granted. the estate has been finalised and notilication has been made by the executors to the charity that a distribution will be made. or when a distribution is received from the estate. Income from grants is recognised when the charily has entitlement to the funds. any condilions attached to the grant have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. Donations and sponsorship are accounted for when received. Income from other trading activities includes income earned from trading activities to raise funds for the charily. Income from donated goods is accounted for when the sale lakes place. d) Resources expended Resources expended are included in the Stalement of Financial Activilies on an 3ccrual basis. inclusive of VAT which cannot be recovered. Expenditure which is directly attributable to specilic activities has been included in these aclivities. Where costs are altributable to more than one aclivity. they have been apportioned across Ihe cost categories on a basis consistent wilh the use of these resources and time spent thereon as follows.. 2023 2022 28Y. 8% 20% Rebranding Raising donations and legacies Charilable activities No general publicity costs have been allocated lo governance. Restricted fund costs consist of those directly altributable to specific activities only. 351Page

e) Tangible assets and depreciation Assets in excess of £l.000 intended to be of ongoing use to Vision Action in carrying oul its activities are capitalised as fixed assets. Depreciation is charged, on a slraight-line basis. as follows: Short leasehold building improvements Computer equipment Office equipment Optical equipmenl Vehicle 10 years 3 years 3 years 4 years Limited to the lower of 4 years or the life of the programme f) Employee benplits lincluding pension costs) Expenditure is recognised for wages and salaries resulting from employee service to the charity during the reporting period. A liabilily for paid annual leave is recognised only if deemed material at the year- end date. The charity operales a defi'ned contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions payable by the charity. g) Operating leases Expenditure applicable to operating leases is charged to the statement of h'nancial activities on a straight- line basis. in the period lo which the cost or income relates. h) Gifts in kind Gifts in kind are included at current market value where their value is ascertainable and material. The estimated valuation of gifts in kind is based on the value of the contribution lo the charity or the valualion the charity would have had to pay to acquire Ihe assets. Donated professional ser4/ices and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met. their receipt of economic beneht from the use by the charity of Ihe item is probable and economic benelil can be measured reliably. The economic value of donated professional hours can be reliably measured and calculated as hours worked multiplied by the market value of the services provided. i) Interest receivable Interesl on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is normally upon notilication of the interesl paid or payable by the Bank. 361Page

j) Foreign currencies Transactions in foreign currencies are recorded using the FX rale at the beginning of the month in which the transaclion took place. Monetary assets and liabilities are revalued al the FX rate on the firsl day of the following month. All exchange differences are recorded in the SOFA. k) Fund Accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the truslees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specilied are to be solely used for particular areas of the charity's work or specilic projects undertaken by the charity. l) Basic financial instruments The charity only has financial assets and linancial liabilities of a kind that qualify as basic financial instruments. Basic linancial instruments are initially recognised at transaction value and subsequently measured at Ihe settlement value. m) Debtors All debtors are measured and included in the accounts on the basis of their recoverable amount. n) Creditors All creditors are measured and included in the accounts on the basis of their settlement amount which the charity has an obligation to transfer to the Ihird party. o) Cash Cash at the bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. p) Taxation The charity is exempt from corporalion tax under Chapter 3 of Part11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act1992. to the extent Ihat surpluses are applied to its charitable purposes. 371Page

q) Provisions Provisions for future liabilities are recognised when the charity has a legal or constructive linancial obligation. that can be reliably estimated. and for which there is an expectation that payment will be made. Provisions for dilapidations are made where the liabilities can be measured with some cerlainty. Provisions for redundancy and end-of-contract obligations are calculated in accordance with relevant country statulory obligations. r) Critical judgements and estimations of uncertainty In the application of Ihe charitys accounting policies, which are described in note 2. Trustees are required to make judgements. estimates and assumptions about Ihe carrying values of assets and liabililies that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The value of professional volunteer time is estimated in the SOFA as hours worked multiplied by Ihe estimated market value for services provided. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe eslimate is revised if the revision affects only that period. or in the period of the revision and future periods if the revision affects Ihe current and future periods. s) Investment valuation method Investments are valued at market value. Any gains or losses arising on revaluation are recognised in the slatement of financial activities. 381Page

  1. Income and legacies Unrestricte Designate Reslricte 2023 2022 Donations and legacies Individual donations and community fundraising Corporate Fundraising Unrestricted grants Iotherl Unrestricted grants (Transfer from Vision for 8 Nation) - Note15 Government grants Professional donated hours Donations in kind 105.695 105.695 202.27 10.000 22.000 316,755 10.000 22.000 422.34 714 105.585 134.549 7.525 36.117 252.996 7.525 3.266 39.583 94.558 347.55 30.100 Legacies 347,131 751.088 105.585 97.824 954.49 714.707 Tolal donations and legacies Unrestricte Designate Restricte 2023 2022 Income from charitable activities Individual donations and community fundraisin9 Corporate Fundraising Grants 4.496 4.496 10,099 143.383 143.383 477.144 477.144 155,711 487.06 Members, donations Total income from activities 28,527 28.527 28.527 625.023 653.55 28,863 682.35 charilable Unrestricte Designate Reslricte 2023 2022 Other Profit on disposal of fixed asset Other Tolal other 525 525 525 391Page

Expenditure al Total resources expended Direct cosls Staff Support costs costs Inole 4bl 2023 2022 Expenditure on raising funds Expenditure on raising donalions and legacies Expenditure on other trading activities Irebrandingl 24.950 16.006 19.983 60.945 112.786 92.037 48.020 70.698 210.755 116.995 64.026 90.081 271.700 112.786 Charitable activities Overseas projects Raising awareness Sustainability project 524.203 532.309 8.307 16.006 147.649 1.204.221 12.216 36.529 851.868 28.197 68.394 948,459 532.570 548.515 159.865 1.240.75 Total expenditure 649.563 612,341 250.546 1.512.450 1,061.245 bl Support costs 2023 2022 100.896 48.88 Staff cosls Recruitment costs Premises costs Printin9. Postage and stalionery Telephone and internet Travel and meeting costs Office expendilure Depreciation Governance Inote cl 3.670 106 1.408 1.546 35.648 45.552 5.932 12.506 646 1,626 1,077 17.21 55.720 250.54 10,595 98.487 General overhead cost recovery of £1.948 has been received in the year through restricted funding to cover unrestricted general support costs12022.. £35.4541. This has been allocated against support costs on a total cost apportionment basis. General overhead cosl recovery of £853 has been allocated against support cost staff costs12022- £17.5981. 401Page

cl Governance 2023 2022 34.58 325 Legal and professional fees Audit fees Audit fees overseas audit assignments Cost of AGM and meetings Trustee costs and expenses Trustee recruitment costs 6.849 6.476 4.029 3.163 18 55.72 6.741 3.250 10,595 General overhead cost recovery of £593 has been allocated against legal and professional fees12022.. £3.8141. d) Trustees. remuneration and expenses Members of the Board of Truslees (who are all directors within the meaning of the Companies Act 20061 receive no remuneration for their services. Trustees, total reimbursed expenses and payments made to suppliers directly on their behalf in respect of travel and subsistence costs lotalled £3.163 for two trustees12022.. £299 for fvvo trustees). 5. Taxation The charitable company is exempt from corporation tax. 6. Net incoming resources for the period 2023 2022 Operating surplus is staled afler charging- Depreciation Auditor's remuneration Profit on disposal of investments 10,482 6.849 6.167 6.741 411Page

  1. Staff costs 2023 2022 Salaries and wages Social security cosls Pension costs 635.323 29.173 34.941 699.457 447,535 28.481 14.676 490,690 End-of-contract paymenls were made in Ihe year to four overseas country staff members (Zambial due to end of contracts. totalling £32.54912022- £Nill. Relirement beneh't payments were made in the year to one staff member per labour18w in the overseas country. tolalling £Nil12022: £28.0001. A provision for end-of-contract payments were made in the year for staff wholly attributed lo our restricted fund grant activities. totalling £25.94312021- £29,915). The number of employees whose emolumenls were more than £60,000 were: 2023 2022 £60.001- £70,000 £70,001- £80.000 £80.001- £90.000 Key management is delined as the executive Senior Management Team (four executive directors/head of departments). Key management remuneration in the year was £257,41512021- £223.7261. Headcount staff within the year 2023 2022 Programme Finance and Adminislration Recycling Fundraising and communication Overseas in our programme counlries 27 34 13 25 421Page

  2. Tangible fixed assets Furniture Computer Vehicles & fittings equipment Total Cost or valuation At l April 2022 Additions Disposals At 31 hAarch 2023 54.845 33.068 1.159 11.074 56.004 44.441 2QQ 87.915 299 12.233 100.445 Depreciation At l April 2022 Charge for the year Released on disposal At 31 March 2023 54,845 4.822 161 5,361 55,006 10.482 299 59.607 299 5.522 65.488 Net book values At 31 March 2025 At 31 March 2022 28.246 6.711 998 34.957 998

  3. Debtors and Prepayments 2023 2022 Trade debtors Gift aid recoverable Prepayments and accrued income 10.362 3.498 261.400 275.260 768 352.418 353.186

  4. Creditors 2023 2022 restated Other creditors Accruals and deferred income Social security cosls Pension contributions 29.177 104.371 12.011 2.973 148.532 11.357 47.985 5.791 1,630 66.761 431Page

  5. Provisions for liabilities Programme redundancies Total At l April 2022 Additions during the year Released during the year At 31 March 2023 55.859 32.057 150.7941 37,122 55.859 32.057 150.794) 37.122 The programme redundancies provision relales to the liability for end of contract or redundancy costs for overseas staff on lixed term contracts and in posts funded by restricted funds. The provision is calculated in accordance with the relevant country statutory provisions for end of contract I redundancy payments. The provision is expected to give rise to a payment of £25k in the year ending 51 March

  6. with the b81ance expected lo be paid in subsequent years in line with the end of specific funded programmes. Provisions total £57.12212021122.. £55.8591 of which £37.12212021122.. £55.8591 was attributable lo restricted funds and £Nil12021122.. £Nill was altributable to unrestricled funds.

  7. Related party transactions There were no transactions with other related parties in the year. 441Page

  8. Statement of funds At Incoming Resources l April 2022 resources At 31 March 2023 used Transfers Unrestricted income funds General funds Desi nated funds Tolal unreslricted funds Restricted income funds Restricted income funds Inote161 Tolal funds 573.402 780.140 (749.7491 130,361) 91.660 105,585 132,9231 665.062 885.725 r182.6721 130,3611 573.432 164.322 737.754 205.190 722.847 (729,7781 30.361 228.620 870.252 1,608.572 11,512.4501 966.374 Stalement of funds - previous year At Incoming Resources l April 2021 resources Balance 31 March 2022 used Transfers Unrestricted income funds General funds Designated funds Tolal unreslricted funds Reslricted income funds Restricted income funds Total funds 337,605 757.630 1426.9491 13.2241 605.062 337,605 757.050 1426.9491 13,2241 605.062 196,787 639.475 1654,2961 554,592 1,397.105 11,001.2451 3.224 205.190 870.252 Included within general funds is £Nil unrealised losses on investments12022.. £Nill 451Page

  9. Last year comparative SOFA breakdown Unreslricted Designated Restricted 2022 Income and endowments from: Donations and legacies Charitable activities Other trading activities Irecyclingl Investments Other Tolal income Expenditure on: Raising funds Raising donalions and legacies Other trading activities Irecyclingl Total raisin funds Charilable activities Overseas projects Raising awareness Sustainabilit pro ect Total charitable activilies Total expenditure Net incomellex enditurel Net Ilossl on investments Transfers between funds Net movement in funds Fund balances brou ht forward Fund balances carried forward 714.767 42.863 714.767 682.338 639.475 757.630 659.475 1.397.105 112.786 112.780 112.786 112.780 285.966 28.197 565.902 851.868 28.197 68.394 948.459 1.001.245 335.800 68.394 654,296 634,296 5,179 314.163 426,949 330,681 13.2241 327,457 337,605 665.062 3.224 8.403 196,787 205.190 335.800 534.392 870.252 461Page

  10. Transfer from Vision for a Nation Foundation (Charity no. 1140123) Taking over of Vision for a Nation Foundation programmes and assets was completed on 30 September 2022. 2023 2022 Tangible Fixed assets (fair valuel 34.868 Cash transfer - Unrestricted grant Cash transfer - Restricted grant Prepayments 1.248 Total transfer from Vision for a Nation 458.456 422.340 134.549 49.451 184.000

  11. Designated Funds Vision Action has put aside two designaled funds: Anthony's Eyes Cataracl Programme for Sierra Leone in honour of Anlhony's legacy wishes, and Investment in Fundraising as agreed with Vision for a Nalion Irustees through the memorandum of understanding. Balance at l April 2022 Income Expenditure Transfers 2023 Anlhony's Eyes Cataract Programme Inveslment in fundraising 91.060 32.923 58.737 105,585 91.660 105,585 105.585 164.322 32.925 l. Anthony's Eyes (Sierra Leone) For provision of cataract surgical services in Sierra Leone.

  12. Investment in fundraising Funds from taking over of Vision for a Nation Foundation has been set aside for investmenl in fundraising. 471Page

  13. Restricted funds Balance at Balance at l April 2022 Income Expenditure Transfers 31 hAarch 2023 Z8mbi8 Specs8vers Vision Mundi USAID Child Blindness Programme Support 8 School 39.565 105.683 5.687 24.019 60,594 1.000 137.791 1,799 121,395 800 15.157) 3.888 36,382 200 Sierra Leone Speclacle Makers Vision Mundi Optometry Giving Sight K8ilahun Steel Charitable Trust Oplomelry Giving Sighi-port Loko PALA Tonkolili 3,850 3.415 20.720 3.208 3.415 35.489 1,389 375 36,603 042 9.652 50 18831 3.438 1.125 48.041 4.346 1,500 84,044 4,546 Ethiopi8 Support 8 School Beatrice Laing USAID Child Blindness Programme The Else Krone-Fresenius-Stiliung IEKFSI Veta Bailey Essilor Social Impact 8.990 2.500 5,188 2.923 70.549 80.141 3.802 423 4.821 ,728 27.589 79.980 21.428 2.062 1,170 5,206 892 5,206 Ghana NAedicor Foundation Wision for a Nation) Peek ¢dision for a N81ionl USAID Child Blindness Programme Challonges Worldwide Coopervision The Else Kron*Fresenius-Stiftung 14,910 19.654 4.738 29.000 129.0001 6,204 91,003 8.255 40.000 45,988 97,207 7,0 6.737 58.486 584 53.263 5.502 IEKFSI Anonymous Donor 25,000 57,853 12,835 Remote Mentoring Briiford Bridge Trust James Tudor Karen Sparrow Fund 10,000 4,689 5.311 1.500 94.058 1,500 94,658 205,190 722,847 729,778 30.561 228.020 481Page

Restricted Funds 2022 Balance at l April 2021 Income Balance at 31 March 2022 Expenditur Transfer Zambia Specsavers Vision Mundi USAID Child 21indness Programme 64.763 151.631 5.047 11,12 176.829 10.48 39.505 5.087 90.192 65.573 24.619 Sierra Leone The Clothworkers, Foundation Maitri Trust Speclacle Makers USAID 36.306 69.000 535 105.306 535 3.850 49.577 629 18,863 71,950 4.231 10,099 6.153 3.850 49.577 10.077 45,230 9.553 6.153 Vision Mundi Optometry Giving Sight Kailahun Vision for a Village 3.415 26,720 Ethiopia Support a School Beatrice Laing USAID Child 21indness Programme The Else Krone-Fresenius- Stiftung IEKFSI Veta Bailey 10.728 4.080 7.500 5.818 5.000 8.990 2.500 3.140 6.364 3,224 79.813 4.200 52.224 2.138 27.589 2.002 Ghana Medicor Foundation Cdision for a Nation) Peek Cklision for a Nationl 20.451 29.000 5.535 14.916 29,000 Remote Mentoring BritFord Bridge Trust Steel Charitable Trust 10.000 5.000 10.000 1,500 3.500 Sustainability projects Maitri 68,595 68.395 639.47 196.787 634.296 3,224 205.190 491Page

Purpose of funding l. Specsavers (Zambia) For supporting the inlegration of primary eye care and school-based eye health programmes. 2. Vision Mundi (Zambia) For strenglhening human resources for eye health in Zambia. i ie A Iri cp".IA DI:_ -Igr-, 77r- Scale up of School Eye Health in Zambia 4. Spectacle Makers (Sierra Leone) For purchase, installation and running of 3 power generators located in established Vision Centres (Vcsl in Kenema. 2ombali and Koidu Districts of Sierra Leone. 5a. Oi)loTr- i Ii"v Cjivinri ht {- Le.oiii-:) For essential communily eye care seroices in Bombali & Koidu Districts. Sierra Leone For increasing the uptake of eye care services especially the use of glasses in Bombali & Koidu Districls. Sierra Leone 6. Kailahun (Sierra Leone) For a community-based eye health in Kailahun district, Sierra Leone. Trii For a remote mentoring pilot to offer continuous professional support to eye health workers in Sierra Leone and Zambia 8. Optornetry Giving Sight (Sierra Leone - Port Loko} To increase access to eyecare in Porl Loko district through establishing a Vision Centre and training 2 new Optomelry technicians. ,LA Toiikoli. )io.rrcl Leoiii, To refurbish a defunct Vision Cenlre in Tonkolili district. Sierra Leone. C,,Iriptii',), For school-based child eye care programmes in Sierra Leone. Zambia. and Ethiopia. 11. Beatrice Laing (Ethiopia) To support a scalability study for school eye health in Ethiopia 12. U?AIP .liilcl Bli Progri)IMIi)i. For vision41nclusion: Leave no Child Behind in Ethiopia. 501Page

  1. EKFS (Ethiopia) For ensuring School Eye Health ISEHI for rural communities in Ethiopia. Match funding to support scaling up school eye heallh serdices in Ethiopia
  2. Essilor Social Impact (Ethiopia) In-kind gift of glasses for school eye health project in Ethiopia.
  3. Vi:, For complelion Vision for a Nation's Medicor Foundation project for Innovative Eye Care in Ghana's Upper East Regions.
  4. Vision for a Nation - Peek IGhana) For complelion of Vision for 8 Nalion Foundation contracl with Peek. Peek application use in Ghana s Upper East Region. To conduct a market feasibility study for a social enterprise model in Ghana 19 P.nnnarVision IGh?- Supporting school eye health programmes in Ghana
  5. The Else Krone-Fresenius-Stiftung (EKFS) {Ghana) Scaling up community based Primary Eyecare in Ghana
  6. Anoii Supporting Primary Eyecare in Ghana
  7. BritFord Bridqp Tru%t (Rpmotp. Mpntorinq) For remote mentoring scheme. Sierra Leone and Zambia
  8. Jfames Tudor To support a remote mentoring pilot scheme.
  9. K-, --I £p(Irrow- To support training and education programmes across Zambia. Ethiopia. Ghana and Sierra Leone.
  10. Related and controlling parties There were no related paty transactions during the year or previous year. The Irustees are deemed lo control Ihe charitable company. 511Page

In acknowledgement and thanks

Our Honorary Life Members are: