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← Vision Action

2025-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

HELPING THE WORLD TO SEE

ANNUAL REPORT 2024-25 11 lj311.jlll visi ACTI FOR A CLEARER FUTURE

ANNUAL REPORT 2024-25

CONTENTS

Pages
Message from the Chair 4
Programmes 5/6
•A summary of progress against our three strategic objectives
•Our country programmes:
•Ethiopia 7/8
•Ghana 9/10
•Sierra Leone 11/12
•Zambia 13
•Volunteering in Action 14
Legal and Administrative Information 16
Trustees’ report 17/18
Financial Review 19/21
Fundraising Report 22/23
Statement of Trustees’ Responsibilities 24
Auditors’ Report 25/27
Financial Statements 28/46
Acknowledgement and thanks 47

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ANNUAL REPORT 2024-25

OPENING MESSAGE FROM CHAIR

DEAR FRIENDS AND SUPPORTERS OF VISION ACTION

It is a privilege to serve as Chair of Vision Action and to reflect on a year in which our organisation has continued to grow in strength, impact, and resilience. Chairing an international development charity is always a team effort, and I would like to extend my heartfelt thanks to my fellow Trustees, our dedicated staff, and our global partners, whose energy and commitment ensure that Vision Action continues to deliver life-changing work.

The past year has seen remarkable achievements across our programmes. In Ghana, we scaled inclusive Primary Eye Care (PEC) services, reaching more learners and teachers through our school outreach and launching new child-focused PEC projects in four additional districts. On-site refractions were introduced to improve historically low referral completion rates, an innovation already yielding promising results.

In Ethiopia, Vision Action strengthened its national role by securing a grant from Global Health Partnerships (formerly THET) in collaboration with Orbis International Ethiopia. This will enable us to expand eye care services, while our team continued to lead national awareness efforts, such as Optometry Week, World Sight Day, and remained a key member of the Ministry of Health’s National Eye Health Advisory Committee.

In Sierra Leone, our teams delivered essential services despite significant infrastructure and funding challenges, including providing new power supply to clinics and supporting the launch of the Sierra Leone Optometry Association. However, due to ongoing funding shortfalls, the difficult decision has been taken to place the programme into hibernation until new support is secured. Importantly, the vision centres we helped establish and which are now run by the Ministry of Health & Sanitation continue to serve their communities.

In Zambia, while active grant funding has not yet resumed, we have continued to lay strong foundations for the future. Our teams have worked with government and partners to design new PEC interventions aligned with national strategies, ensuring that when funding

becomes available, Vision Action will be ready to mobilise quickly and sustainably.

Our volunteers have also played a critical role this year, developing new training materials, delivering peer-led CPD sessions, and advancing global learning through partnerships with the Community Eye Health Journal. Their expertise and dedication continue to build capacity and strengthen eye health systems in lasting ways.

Of course, this has also been a year of headwinds. The global aid landscape has been destabilised by funding freezes and reduced government commitments, with health and development budgets under strain. Yet, Vision Action has responded with determination, tripling the number of funding applications submitted year on year, cultivating new partnerships, and developing a refreshed fundraising strategy that prioritises diversification and sustainability.

Looking ahead, we remain steadfast in our mission: to eliminate avoidable blindness and visual impairment by expanding access to affordable eye care and glasses. In the coming year, we will continue to deepen our impact in Ghana, strengthen national engagement in Ethiopia, prepare for renewed programming in Zambia, and seek opportunities to bring our work back to Sierra Leone.

On behalf of the Board of Trustees, thank you for your continued belief in our mission. Together, we are proving that clear vision is not a privilege, but a human right, transforming lives, unlocking opportunity, and building a fairer, brighter future for all.

Thank you for your continued support,

Tony Hulton

Former Chair, Vision Action

~~1~~

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ANNUAL REPORT 2024-25

PROGRAMMES

A SUMMARY OF PROGRESS AGAINST OUR THREE STRATEGIC OBJECTIVES:

a. Supporting the Development of Human Resources for Eye Health (HREH)

In 2024–2025, Vision Action continued to strengthen national eye health workforces through targeted training, technical support and long-term capacity-building across Ethiopia, Ghana, Sierra Leone and Zambia.

These efforts directly improved vision for children and adults while reinforcing national eye health systems for long-term sustainability.

Across all countries, these investments are contributing to a more skilled, confident and locally-led eye health workforce capable of delivering sustainable services.

b. Strengthening Essential Eye Health Services

In 2024–2025, Vision Action’s programmes expanded access to screening, refraction, eyeglasses and treatment for schoolchildren, teachers and communities, while embedding services within national systems.

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ANNUAL REPORT 2024-25

PROGRAMMES (CONTINUED)

c. Engaging and Mobilising Communities

Community empowerment, awareness-raising and local ownership remained central to Vision Action’s approach in 2024–2025.

These activities strengthened understanding of eye health, increased demand for services, and built community structures that support long-term behaviour change and service uptake.

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ANNUAL REPORT 2024-25

PROGRAMMES

ETHIOPIA

cost-effective, school-based eye health services to children, teachers and surrounding communities. A total of 76 teachers and 10 Health Extension Workers were trained to conduct vision screening, supported by the Mobile Eye Clinic which provided specialist follow-up, refraction and treatment, and linked complex cases to SPHMMC for advanced care.

In 2024–25, Vision Action Ethiopia, with support from Else Kröner-Fresenius-Stiftung (EKFS), delivered the Ensuring School Eye Health for Rural Communities project across four sub-cities of Sheger City Administration in Oromia Region. Working closely with the Ministry of Health, Ministry of Education, Saint Paul’s Hospital Millennium Medical College (SPHMMC), and regional and city authorities, the programme brought

----- Start of picture text -----
EOP NO. OF
INDICATORS CATEGORY OUTPUT INDICATORS EOP %
TARGETS REACH
No. of sch. children screened
32,770 30,535 93.2
for eye problem
Increased access to eye
No. of out of sch. children screened
screening services for 700 367 52.4
for Vision & eye problem
all children (school and
community)
No. of sch. children who fail eye
screening & need fraction & exam. 3,277 3,060 93.4
by MEC
No. of sch. children with significant
Increased in number of refractive error who received correc- 1638 133 8.1
children receiving and tive eyeglasses
complaining with treatments
for non-surgical eye No. of in sch. children treated by the
conditions by MEC MEC team with eye 1,050 947 90.2
drops/medications
No. of sch. children & out of sch.
Improve case referrals for children seen by MEC but need refer- 150 57 38
further professional treatment ral for further treatment and follow-up
or other forms of treatment
a side eyeglass No. of those referred who received 57 38 66.7
the needed more complex services
No. of teachers screened for eye
657 735 111
problem
Improved eyesight
for teachers
No. of teachers with presbyopia error
197 255 129
who received eyeglasses
No. teachers trained to provide eye
Eye Health Trainings screening & child safeguarding for in 74 76 102
sch. children
No. of HEWs trained to conduct eye
15 10 67
screening and child safeguarding
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ANNUAL REPORT 2024-25

PROGRAMMES ETHIOPIA (CONTINUED)

Over the year, 30,535 (93.2%) schoolchildren and 367 (52.4%) out-of-school children were screened, with 3,060 (93.4%) identified as needing further assessment. Of these, 1,080 (35.3%) children were examined by MEC staff, leading to 133 (8.1%) being provided with corrective spectacles and 947 (90.2%) receiving eye medication, while 57 (38%) children required referral to senior eye specialists, two-thirds of whom accessed treatment at SPHMMC. Teachers were also supported, with 735 (111%) screened, exceeding the original target, and 255 (129%) provided with reading glasses for presbyopia, directly improving teaching quality and reducing classroom strain.

Awareness-raising activities strengthened Parent– Teacher Associations and the active involvement of community structures contributed to widespread recognition that most eye conditions are preventable and treatable. Children such as Lemlem, who had dropped out of school due to poor vision, were able to return to education following access to glasses, demonstrating the transformative impact of the programme.

market fluctuations affecting the cost of spectacles, the project adapted effectively through strong partnerships, resource-sharing and budget adjustments. The initiative has also played a catalytic role in

national policy, supporting the development of the School Eye Health Manual and contributing to the National Eye Health Strategic Plan (2024/25– 2026/27), which is now being piloted in Addis Ababa and regional states. With trained teachers, functional referral systems and growing government ownership, the foundations are in place for national scale-up and sustainability.

Looking ahead, Vision Action will continue to support the integration of school eye health into primary eye care to improve the follow-up and ensure suitability & scalability, enhance key stakeholders engagement for increase actors on eye care for policy influence, and establishment of new vision centres in underserved districts, ensuring that more children and teachers across Ethiopia can access affordable eye care and eyeglasses.

Presbyopia is the normal loss of near focusing ability that occurs with age due to changes in the eye’s lens. Supplying schoolteachers with reading eyeglasses has contributed to the learning outcome as it is helpful for schoolteachers to prepare well and commit themselves for the quality of education.

Besides, the positive effect has been expressed by one of the key informants during the end term qualitative survey,

“I used to experience blurred vision and headache because of my vision impairment which I was not able to seek advanced treatment and buy corrective eyeglasses. The screening and provision of Eyeglasses has changed my life. I freely read & interact with my students.”

(KII, School teacher)

Despite challenges including insecurity that forced relocation, shortages of optometrists at SPHMMC and

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ANNUAL REPORT 2024-25

PROGRAMMES

GHANA

Over the past year, Vision Action’s Ghana programme made remarkable progress in expanding access to essential eye care services across the Upper East Region. Building on strong partnerships with health and education authorities, the programme extended its reach to four additional districts. The focus remained on integrating Primary Eye Care into the wider Primary Health Care system while strengthening school outreach activities through capacity building, system development, and sustained collaboration with local stakeholders.

A total of 199 Primary Health Care nurses were trained in Primary Eye Care across four new districts using the 3-Day WHO PEC Manual as contextualized for Ghana which was delivered by trained Ophthalmic professionals who had earlier being trained and certified as trainers. The practical sessions at the training and subsequent follow up supportive supervision showed the trained personnel display a high-level skill in the delivery of the service. By this training, we have a strengthened frontline health workforce ensuring that even the most deprived communities benefit from sustainable eye care services right in their communities. In schools, 22,346 (10517 male and 11829 females) children and 1,149 (572 males and 577 females) teachers received

vision screening across two districts, of which 2,117 (9%) of which 53% were female, were identified with an eye condition including refractive errors, itchy eyes, red eyes, presbyopia and cataracts. More than 73% of these cases were treated on-site, while 205 teachers received spectacles, enabling them to continue their vital role in educating children. Children requiring further support were linked to field refraction services. Out of 446 referrals, 297 (67%) were reached, with 151 children refracted; 147 were diagnosed with refractive error, and 96 of them received spectacles within the reporting period, allowing them to fully participate in school and daily life. Field refraction was carried out through planned optometrist visits to community sites where children were brought together for assessment.

The figures reported reflect those reached during this period, with the remaining children continuing to receive care.

Beyond schools, the programme also reached 3,298 people across four districts through community outreach and Primary Health Care facilities, offering vision screening, treatment of minor conditions, and referrals. The table below provides details on the disaggregation of people screened.

DISAGGREGATION NUMBER
REACHED		 %
SEX
Female
2038
61.8%
Male
1260
38.2%
AGE
1-15
780
23.7%
16-30
908
27.5%
31-45
720
21.8%
46-60
458
13.9%
61-75
224
6.8%
76-90
203
6.2%
91-105
5
0.2%

Of those screened, 1,413 (44%) were found to have eye problems, with 824 (41%) treated on-site.

Common eye conditions identified included redness with discharge, pain, strabismus, cataract, Itchy eyes, foreign body and pathologies associated with the eyelids. Common treatment provided onsite include removal of foreign bodies, and prescribing and dispensing (where available) of antibiotic and antiallergy eye drops. For many, this immediate care prevented vision issues from escalating further. Eighty-seven (87) adults also received reading spectacles, a small but powerful intervention that transforms daily life by supporting livelihoods, independence, and dignity.

These achievements were underpinned by strong partnerships. Collaboration with district health management teams, education authorities, and civil society actors helped to embed eye health into the

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ANNUAL REPORT 2024-25

PROGRAMMES

GHANA (CONTINUED)

fabric of local health and education systems, creating a foundation for long-term sustainability. The reporting period also reinforced important lessons. Integrated delivery, linking schools, communities, and health facilities, proved essential to ensuring that no child or adult is left behind, while stakeholder commitment at district level remained critical for embedding eye health into existing structures.

Looking ahead, Vision Action Ghana intends to expand access to basic eye care services to deprived communities and will deepen collaboration with other

eye health organisations to work towards national coverage. The team will also actively explore local funding opportunities to expand projects further, ensuring that the progress made is both scalable and sustainable which is achievable on the back of the interest and commitment shown by the National Eye Care Unit of the GHS and the momentum put behind this by all eye health INGOs in Ghana. By investing in local systems and people, the programme is not just restoring sight but also building a future where every child can learn, every adult can work, and every older person can live with dignity.

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ANNUAL REPORT 2024-25

PROGRAMMES SIERRA LEONE

During this last fiscal year, Vision Action strengthened access to quality eye care in Sierra Leone through school, community, and facility-based interventions. Working closely with the Government of Sierra Leone, the Sierra Leone Sees to Learn (SL2) Trial entered its final phase, focusing on pupil follow-up, control group management, and preparations for the hyperopia sub-study in Kenema. Alongside the research, Vision Action sustained service delivery and capacity-building activities in Port Loko, Bo, and Kenema, ensuring continuity of care despite infrastructure and funding challenges. Capacitybuilding activities for the period included training and internship support for two Optometry Technicians who returned from The Gambia after one year of training and have now successfully taken over the management of the Port Loko Vision Centre, strengthening local ownership and continuity of services. In addition, the hearing and vision sub-study involved training local Optometry Technicians and Ophthalmic Nurses to conduct school-based hearing and vision screenings and provide low-hearing and low-vision treatment, as well as eyeglasses, to primary school children in rural Kenema. Implemented in partnership with government structures, including the Ministries of Education and Health, the initiative trained a total of 25 government staff, further advancing integration and sustainability within the national system.

Monitoring of pupils who had received eyeglasses remained a key focus. Through collaboration with teachers and parents, Vision Action assessed use, satisfaction, and outcomes. Despite rain and school closures, feedback confirmed strong compliance and improved classroom performance, with many pupils preparing for national exams crediting their glasses for improved study outcomes. A few cases of loss or breakage were reported, with replacements arranged through headteachers. For the control group of 444 pupils (120 in Bo and 324 in Freetown), spectacle frames and prescriptions are ready for distribution upon study completion. Within the treatment group, a total of 454 pairs of eyeglasses were dispensed, and compliance monitoring in November 2024 found that 51% of pupils (n=233) were observed. Of these,

118 were wearing their eyeglasses at the time of assessment. The most frequently cited reason for nonuse was forgetting them at home (66%), and 8% of pupils reported having lost their glasses. Compliance teachers were encouraged to support pupils with regular reminders to promote consistent wear.

Preparations for the hyperopia sub-study advanced with the completion of the workplan, procedural manual, staffing framework, and equipment procurement. The Deputy Minister of Health, National Eye Care Programme, and District Education Office in Kenema reaffirmed their support, demonstrating growing government ownership.

Towards the end of the financial reporting period, Vision Action continued vital services in Port Loko through community and facility-based outreach. To mitigate frequent power outages, a 5 kVA generator funded by Optometry Giving Sight was installed, ensuring uninterrupted eye care. Under the Vision Mundi and OGS-supported initiative, progress was achieved in three key areas:

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ANNUAL REPORT 2024-25

PROGRAMMES SIERRA LEONE (CONTINUED)

Despite strong community demand, ongoing funding constraints required placing the programme into temporary hibernation until new resources can be secured. While this pause is regrettable, Vision Action remains proud of its achievements to date: expanded awareness of eye health, improved spectacle uptake, strengthened human resources, and sustained service delivery through government-run vision centres. Although active field monitoring and financial support for community outreach and clinic-based services have come to a halt, Vision Action continues to maintain close relationships with the Government of Sierra Leone and other INGOs, providing ad hoc technical input where appropriate. The organisation also retains its full national registration and remains an active member of the INGO coalition, ensuring continued coordination and visibility within the sector. The established foundations, trained staff, functional referral systems, and strong community trust will enable rapid reactivation of activities when funding becomes available. During the final quarter of the fiscal year, the programme was formally placed into hibernation, and securing new resources for its

continuation will be a priority for the Fundraising Team in the next fiscal year. Vision Action remains committed to reducing eye-health inequities in Sierra Leone and re-establishing services as soon as feasible.

Case Study: Restoring Sight, Restoring Hope Alie Marobia, an 18-year-old pupil from Yamandu High School in Blamawo Village, suffered vision loss after foreign particles entered his eye while climbing a tree. His parents attempted traditional remedies, but without improvement. A few days later, the Sierra Leone Sees to Learn team visited his school, screened him, and referred him to Bo Government Hospital, where the foreign body was removed, and treatment provided. Alie also received prescription eyeglasses to correct his vision.

“The glasses I received are perfect. I can now see clearly and prepare well for my Basic Education Certificate Examination. I’m grateful to Vision Action for helping me regain my sight.”

Alie Marobia

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ANNUAL REPORT 2024-25

PROGRAMMES

ZAMBIA

In Zambia, our focus this year has been on sustaining the impact of previous investments while ensuring that the communities we have served continue to benefit from access to affordable eye care. Although we are not currently implementing any new large-scale projects, we have maintained our Vision Centre operations and continued to provide technical support so that services remain available, reliable, and effective for the people of Zambia.

As part of this commitment, the Vision Action team conducted a technical support visit to six Vision Centres, where we provided refresher training to 16 eye care staff, including Optometry Technicians, Ophthalmic Nurses, and Dispensers, on workshop management, equipment maintenance and reporting, forcimetering, glazing skills, reading add, and transpositioning. During these visits, we also procured and replaced broken equipment parts to ensure uninterrupted service delivery. These efforts have strengthened the capacity of local teams and safeguarded the functionality of the Vision Centres, helping to ensure that high-quality, affordable eye care continues to reach underserved communities across Zambia.

The Vision Centres has continued to deliver affordable spectacles and basic eye health services, providing a critical resource for individuals who might otherwise be excluded from eye care. We have also supported local staff through technical assistance, refresher training for optical technicians and other supporting stuff within each vision centre we have set up, and access to spare parts and equipment maintenance guidance, ensuring that the centres remain fully functional and able to meet demand.

Optometry Giving Sight, we have sustained the technical backbone of services and ensured that local professionals are not left isolated.

Looking ahead, we remain committed to maintaining this strong foundation and exploring opportunities for future programme growth. By keeping the Vision Centres operational and providing ongoing technical support, such as equipment maintenance, major and minor repairs, and calibration, we are safeguarding access to essential eye care in Zambia and ensuring that our earlier investments continue to bear fruit. This approach helps ensure that underserved communities can continue receiving affordable, low-cost spectacles, building on more than fifteen years of Vision Action’s support in the country.

A major challenge, however, is the ageing equipment and the minimal financial commitment from government systems to sustain affordable Vision Centre operations and community outreach services. To address this, we have signed Memoranda of Understanding (MOUs) with Vision Centres that commit them to adopting a business model focused on sustainability. We have provided relevant training to support this transition, and we continue to monitor these agreements closely to ensure compliance, accountability, and long-term viability. With the continued support of our donors and members, we are laying the groundwork for a future re-expansion of services when the right opportunities arise, ensuring that eye care remains accessible and equitable for the communities we serve.

This year also reaffirmed the value of our partnerships. We remain in close contact with hospital management, district health offices through the office of the nation eye care co-ordinator, and national stakeholders to ensure that Primary Eye Care stays visible within Zambia’s health priorities. Through continued engagement with supporters such as the Karen Sparrow Training & Education Fund and

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ANNUAL REPORT 2024-25

VOLUNTEERING IN ACTION

Once again, we are deeply grateful for the continued support of our professional volunteers, whose dedication and expertise are central to the success of Vision Action’s programmes.

Funded by the Karen Sparrow Training & Education Fund (Karen’s Fund), equipment maintenance training was delivered at six vision centres (VCs) in Zambia by volunteer David Mwitumwa at the close of the last financial year. This support has continued into the current year, with vital spare parts procured to keep equipment in service. Volunteers were instrumental in setting up these centres, and we were pleased to be able to provide this additional support.

Building on progress from the previous year, work continued on updating materials for the Training of Trainers (ToT) and Low Vision Foundation Course (LVFC). In June 2024, three volunteers travelled to Ghana to deliver the courses in partnership with Kwame Nkrumah University of Science and Technology (KNUST). Eight trainees completed the ToT course and subsequently delivered the LVFC to 16 optometry students. This was made possible through the kind support of Optometry Giving Sight (OGS) and Karen’s Fund.

“This learning will help me do appropriate assessments for my low-vision patients, prescribe the right devices, and give r ehabilitation services to help them live independently”

Boni Patience Emefa Optometry student (2024) KNUST Ghana

Our Continued Professional Development (CPD) workgroup of volunteer education specialists continued to design new CPD sessions. Funded by OGS and Karen’s Fund, a Peer Discussion session on Medical Retina was successfully delivered in Ghana (October) and Ethiopia (November) by national facilitators in partnership with the Ghana and Ethiopian Optometric Associations. Following excellent feedback, volunteers are now developing additional CPD content on other key optometry topics.

Our remote mentoring programme, which ran from 2022–2024, came to an end this year. Designed as a mentee-led model to provide tailored support, feedback was positive but uptake was limited, and the programme was therefore concluded.

“I can now do more efficient job than before. Because I have gained a lots from my mentors.”

Optometry Technician, Sierra Leone.

In partnership with the Community Eye Health Journal, a small team of volunteers began work to develop educational content tailored for health workers in low-resource settings. This initiative is ongoing.

All volunteer work during the year was coordinated by Judith Trigg, Vision Action’s Volunteer Programme Lead, with valuable input from our country teams and partners. As in previous years, our volunteers have also supported country programmes through awareness-raising and fundraising.

With the support of our volunteers, and through partnerships with optometry associations, universities, and other stakeholders, we will continue to develop locally-deliverable training materials while also exploring new ways to expand access to CPD for eye health professionals in low-resource settings. At the end of the financial year, we secured funding for our Ethiopia programme, where volunteers will deliver ToT and paediatric training in the coming year.

We extend our heartfelt thanks to all our volunteers. Your commitment, generosity, and expertise make this work possible.

~~3~~

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ANNUAL REPORT 2024-25

“This training has been very helpful in changing my approach towards teaching and learning. : 4 Skills when taught well become an asset for the student and nation as a whole, since patients will have assess to the right help and this will improve visual outcomes and benefit society.” Josephine Ampomah Boateng ely Optometrist Ghana

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ANNUAL REPORT 2024-25

LEGAL AND ADMINISTRATIVE INFORMATION

Anthony Hulton (Resigned 22 September 2025) Dr Ving Fai Chan Dr. Hannah Faal Ian Kerr Dr. Ahalya Subramanian James Howard DIRECTORS AND TRUSTEES (Resigned 04 September 2024) [Note the Directors are hereafter Lucy Soar called “Trustees”] Nora Colton (Resigned 04 September 2024) Emma Thomas Ronnie Graham (Resigned 04 September 2024) Zoe Gray (Appointed 10 Dec 2024) 27 Old Gloucester Street Registered office London WC1N 3AX Richard Place Dobson Services Limited Ground Floor 1 - 7 Station Road Auditors Crawley West Sussex RH10 1HT Charity number 1081695 [England and Wales] Company number 4027804 [England and Wales]

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SECTION
4
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ANNUAL REPORT 2024-25

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

skills: financial and operational expertise alongside fundraising, programme, and partnership leadership. This dynamic team embodies Vision Action’s commitment to collaboration and sustainability, ensuring the organisation is well positioned to deliver its new strategic ambitions. The Co-Chief Executives are supported by their Leadership Team, including a Global Programme Manager, a Fundraising Manager, the Impact and Innovation Manager as well as the Country Directors who design and implement the programmes, monitor progress and address operational issues.

Governing Documents

The Governing Documents are the Memorandum of Association, and the Articles of Association dated 2000 as amended in 2006, 2017, and 2022.

Membership

Membership of Vision Action is open to anyone on payment of an annual subscription. Members have the right to attend the AGM and vote on those matters specified in the Articles.

Trustees

The Articles state that the Board should consist of five to 12 Trustees, who are elected by the members at the AGM. Trustees may be co-opted to the Board, but they are required to stand for election at the next AGM. The Board seeks future Trustees by public advertisement and notification to members, and all candidates are interviewed, with selection being made against a list of key skills. All new Trustees go through a process of induction during which their responsibilities are explained. Periodically, Trustees receive training in selected aspects of their duties. The Board is responsible for governance, policy direction, decision-making and fiduciary obligations. In 2000 Vision Action, formally Vision Aid Overseas was reconstituted as a Company Limited by Guarantee and re-registered as a charity. Since 2000 the Trustees of the Charity have also been Directors of the Company.

The Board remains responsible for setting the overall pay and reward of the Co-Chief Executive Officers and other members of the Leadership Team, in line with a formal salary policy. Trustees also wish to record their thanks to all Vision Action staff and Professional Volunteers for their commitment, resilience, and contribution to the organisation’s impact.

Vision Action and the Charity Governance Code

The Trustees note the Code is designed as a tool to support continuous improvement. This summary of how Vision Action is aligned with the Code reflects our current position for each area of the Code. We will report on further progress each year.

Organisational purpose

The Board remains clear about Vision Action’s charitable aims and is committed to delivering them effectively and sustainably. In 2024–25, Trustees oversaw the development of a one-year organisational strategy, designed as a foundation for a broader three-year strategy currently being shaped in collaboration with senior leadership. The Board continues to receive a wide range of performance information from staff, enabling it to monitor delivery, assess impact, and ensure that the Charity’s activities

Management

Following the resignation of James Riggs as Chief Executive Officer in July 2024, the Board initiated a recruitment process with the intention of appointing a CEO based in one of our programme countries. While an appointment was made, this did not continue beyond the probation period. In early 2025, the Board therefore moved to a Co-Chief Executive Officer structure, appointing Tiwonge Mwase-Vuma, formerly remain aligned with its purpose. Director of Finance and Operations, and Jale Canlibalik, formerly Director of Fundraising and Programmes, as Co-CEOs.

This new leadership model reflects the evolving needs of Vision Action and marks an important step in strengthening our organisational resilience. The Co-CEO structure brings together complementary

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Leadership

Following the departure of the previous Chair on 22 September 2024, the Board appointed an Interim Chair, who is in the second term serving as a Trustee, ensuring continuity and stability in governance. Under both the outgoing and incoming Chairs, a comprehensive review of Board effectiveness was completed and acted upon. In 2024–25, Trustees have continued to strengthen their contributions, providing more active oversight, strategic guidance, and support to staff and senior leadership.

Integrity

The Board is keenly aware of the importance of public confidence and trust in charities. We have improved various aspects of our governance in the last year. Examples of this include strengthening and updating policies such as our Safeguarding Policy. All Trustees are required to actively state that they are aware of the contents of all policies and are committed to executing them.

Decision-making, risk and control

We have set up groups within the Board to focus more closely on Programmes, Finance and Fundraising. These committees enable Trustees to consider 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.

Board effectiveness

The Board has recently changed how it operates, with Trustees now having significantly more involvement in and commitment to various working groups intended to deliver the Charity’s aims. We will report on this in the next annual report.

Diversity

A 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 the public and with our members.

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ANNUAL REPORT 2024-25

FINANCIAL REVIEW

Overview

This year we have recorded a deficit, four times lower than the deficit in 2023/24. This is due to:

Total income in the year of £880k (2023/24: £1,038k) was made up of £498k unrestricted income, an increase of 34% against the previous year (2023/24: £372k), 56% being legacy donations total £279k (2023/24:£140k); and £382k restricted income, a 43% decrease of against the previous year (2023/24: £666k).

Sources of Income

In total, we raised income of £880k in 2024/25, a 15% decrease from last year (2023/24: £1,038k). Over this period, we spent £826k on our charitable activities, a 30% decrease from the previous year (2023/24: £1,178k). Expenditure on raising funds of £121k, a 2% decrease from the previous year (2023/24: £124k), lower costs on printing and branding for the fundraising activities.

Our net income/expenditure was a deficit of £67k compared to the deficit of £263k in 2023/24.

Income

Our income is derived from a variety of sources. These include: voluntary income from members and supporters through one off or regular giving, sponsored events and community fundraising; appeals and campaigns; philanthropic major donor giving; grants from institutional donors, trusts and foundations, and corporate partners; legacies.

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Restricted Unrestricted Total
2025
2024
- 200 400 600 800 1,000 1,200
Thousands
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Unrestricted donations from individual and community fundraising saw a small decrease to £111k (2023/43: £112k) due to new income from events despite decline in regular donations. Unrestricted grant income doubled compared to the prior year as a result of targeted efforts in this area, reaching £48k (2023/24: £21k).

The decrease in restricted income to £382k (2023/24: £666k) reflected grants coming to an end. Programme proposals were submitted for funding, but a low success rate compared to the previous year reflects the

competitive nature of restricted grants.

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ANNUAL REPORT 2024-25

One significant new programme started in the year – Medicor Foundation (extending child-focused Primary Eye Care in Ghana). Other two new projects also started in the year – 1 Project Orbis International (Sierra Leone Sees to Learn: The SL2 Trial. Supplemental Study on Combined Vision and Hearing Screening) and 2 Optometry Giving Sight (OGS) (for advancing Optometry and Sustainable Vision Services in Sierra Leone).

Legacies income was a significant source of our unrestricted donated income, increased in the year raising £279k, a 100% increase against the previous year’s £140k. We were very fortunate to receive a small number of large legacies in this year. We recognise that the scale and timing of legacy income is mostly out of our control.

Professional donated hours decreased by 53%, to £14k (2023/24: £30k), as volunteer assignments reduced in line with restricted grants coming to an end in the countries of operation. Volunteer hours were mainly from working groups, and we are very grateful for the technical contributions of our volunteers to the organisation’s work.

Expenditure

We spent £826k on our charitable activities (overseas projects and raising awareness), a 30% decrease against the previous year’s £1,178k. The decrease is in line with significant grants coming to an end. £790k of this expenditure was on our overseas projects (representing 87% of our total spend on our charitable activities).

----- Start of picture text -----
2024/25 2023/24
13% 9%
87% 91%
■ Charitable activities ■ Raising funds
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We received £7k of general overhead cost recovery from our restricted funded programme grants and unrestricted appeals which reduced our overall support cost expenditure (2023/24: £14k). In addition to general cost recovery, we received cost recovery

against direct salary costs of £41k, a 41% decreased due to grants ending in the year (2023/24: £69k). Cost recovery in 2024/25, therefore, totalled £48k (2023/24: £83k). Cost recovery is a significant funding stream, and we continue to work towards a model of full cost recovery on all future programme funding.

----- Start of picture text -----
Raising awareness
2025
Overseas projects
Donations and legacies
Raising awareness
2024 Overseas projects
Donations and legacies
- 200 400 600 800 1,000 1,200
Thousands
----- End of picture text -----

Reserves policy

The Trustees have established a Reserves Policy to protect Vision Action’s work from the risk of disruption, whilst ensuring that funds are used strategically and in a timely manner to achieve our charitable objectives. The Trustees regularly evaluate the level of reserves, using Charity Commission guidance (CC19) as a benchmark for best practice.

This policy provides a framework for future strategic planning and supports decision-making by determining an appropriate target level for general reserves, taking into account:

Based on the most recent review in June 2025, the Trustees have set minimum general reserves target of £345,000. This target is calculated with reference to the Charity’s risk profile and operational needs, including income risk, cessation costs, and provision for adversity. The basis for determining the target reserve level is reviewed annually and adjusted as perceptions of risk and other factors evolve.

As at 31st March 2025, general unrestricted reserves stood at £321,921, with a further £189,621 held in designated funds for specific purposes. The Trustees note that the current level of reserves to be just below the minimum of the policy range and are monitoring the position closely in light of ongoing economic uncertainty and the need to maintain organisational resilience.

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ANNUAL REPORT 2024-25

The Reserves Policy is reviewed annually by the Finance & Remuneration Committee and approved by the Board of Trustees. The reserves calculation is updated each year as part of the annual budget and risk review process.

Going Concern Statement

The Trustees have reviewed the Charity’s financial position, cash flow forecasts, and income pipeline for the coming year. Based on this review, and taking into account the current level of reserves and ongoing efforts to diversify income, the Trustees have a reasonable expectation that Vision Action has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

Investment policy

The objective of the investment policy is to minimise risks to the Charity’s assets; any surplus funds, therefore, to be held in short-term interest-bearing deposit accounts, rather than investments. At 31st March 2025, 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 £382k against an expenditure of £416k. At 31st March 2025,

we held a balance of £138k in restricted funds, all of which we expect to spend in 2025/26. Restricted fund expenditure kept pace with project plans.

Risk management

The Trustees actively review the major risks which 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 confirm that they have established systems to mitigate them.

The risk register details 18 organisational risks, with the most medium and severe risks relating to the fundraising environment, external factors impacting on programmatic activity, 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 cost recovery policy, monitoring of internal and external environmental factors and the implementation of swift action plans responsive to changing circumstances, a new communication strategy, and close monitoring and review of all legal and commercial obligations.

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ANNUAL REPORT 2024-25

FUNDRAISING REPORT

The fundraising landscape in 2024/25 has remained challenging, with many charities continuing to feel the pressures of the cost-of-living crisis, rising inflation, and growing competition for funds. These factors have tested the resilience of the sector and reinforced the need for adaptability and innovation in fundraising strategies. For Vision Action, this year has underscored the importance of diversification. Relying too heavily on a single income stream carries risk, and so we have worked intentionally to broaden our base of support. Alongside traditional appeals, we have invested in new trust and foundation relationships, expanded our partnerships, and engaged individuals through events such as the London Marathon. Each of these channels plays a vital role in strengthening our financial sustainability and enabling us to plan for long-term impact.

Despite these wider challenges, our fundraising has shown strong progress. Thanks to the generosity of our donors, the energy of our fundraisers, and the commitment of our partners, Vision Action has not only grown its income but also deepened its community of supporters. Together, they are helping us build a future where eye care is accessible to all, regardless of income or geography.

needs are addressed. Alongside this, we have broadened our pipeline of institutional funders and laid the groundwork for multi-year support that will allow us to plan with greater confidence.

Our Christmas appeal – “Help Gift Clear Vision to Children in Africa” – was another major achievement. Thanks to the generosity of our donors, pledgers including Freedom Destinations, and our charity champion The Reed Foundation, we were able to exceed our target. A further gift from Patron James Chen boosted the campaign, making it one of our strongest end-of-year appeals in recent years.

Building on this momentum, Vision Action is now looking ahead with ambition. In the year ahead we will:

One of the year’s highlights was the 2024 London Marathon, where six inspiring runners collectively raised funds in support of Vision Action. Among them was Jason, who ran in honour of his mother, a visually impaired runner living with Usher Syndrome. His story, widely shared on our social channels, moved many to donate and captured the deep personal connections that drive our cause. The commitment of all our runners powerfully demonstrated the impact of our programmes and the importance of our work.

We also achieved success in our work with trusts and foundations, securing a grant from Global Health Partnerships (formerly THET) to strengthen our eye health workforce to deliver Primary Eye Care and subspecialty Optometry services in Ethiopia. The project aims to empower Ethiopia’s health workforce by enhancing the capacity of local optometrists and primary-level health workers to deliver high-quality, patient-centred eye care services. This investment will enable more people to thrive by ensuring their vision

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7
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ANNUAL REPORT 2024-25

These priorities reflect our commitment not only to sustaining but also to growing our fundraising impact , ensuring that more people across Africa can access the eye care they need. The progress we have made this year demonstrates the power of collaboration, mission. From inspiring runners and generous donors to major institutional partners, every contribution has brought us closer to our vision: a world where no one lives in poverty because of poor eyesight, and no one lives with poor eyesight because of poverty. Looking forward, we are determined to build on this momentum, strengthen our fundraising, and transform even more lives through the gift of sight.

Fundraising Standards

Vision Action is a proud member of the Chartered Institute of Fundraising and adheres to the Code of Fundraising Practice. We continue to pay a levy to the Fundraising Regulator and uphold their promise to ensure that all our fundraising is open, honest, legal, and respectful. We also remain registered with the Fundraising Preference Service, giving the public control over how they receive communications from us. In 2024/25, no member of the public opted out of Vision Action’s contact through this service.

Complaints

any complaints from members of the public regarding our fundraising activities. This figure does not include general expressions of dissatisfaction relating to the use of specific fundraising methods.

Statement Of Public Benefit

Vision Action is dedicated to supporting people living in poverty with limited access to affordable eye care by increasing access to eye tests and properly dispensed spectacles. By improving access to these essential services, we empower individuals to work and children to succeed in school, helping to break cycles of poverty.

In line with the Charity Commission’s guidance on Public Benefit, our Trustees continue to carefully consider how our activities align with Vision Action’s aims and objectives. Our principal charitable aim is to fight poverty by transforming access to eye care in developing countries. We achieve this by working in partnership with national eye care plans, ensuring that our efforts are locally driven and aligned with each country’s needs. Sustainability remains at the core of our approach. We are committed to creating lasting change in every country where we work, ensuring that eye care services continue to benefit communities long after our projects conclude.

Vision Action has an established complaints procedure. In the year ending 31 March 2025, we did not receive

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ANNUAL REPORT 2024-25

STATEMENT OF TRUSTEE’S RESPONSIBILITIES

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report along with the financial statements of the Charity for the year ended 31 March 2025. These financial statements have been prepared in compliance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019).

In accordance with company law, the Trustees are required to prepare financial statements for each financial year that provide a true and fair view of the Charity’s affairs. This includes accurately reflecting incoming and outgoing resources and their application, including the income and expenditure for the given period. In preparing these financial statements, the Trustees must:

To the best of the Trustees’ knowledge, they confirm that:

Furthermore, the Trustees are responsible for maintaining the accuracy and integrity of corporate and financial information published on the Charity’s website. It is noted that the legal framework in the United Kingdom governing the preparation and distribution of financial statements may differ from the laws and regulations of other jurisdictions.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, which relate to small companies. These provisions allow for a streamlined reporting process while ensuring compliance with relevant legal and financial obligations. The Trustees affirm their commitment to transparency, financial prudence, and maintaining the integrity of Vision Action’s charitable operations.

Approval of this Report

This report was approved by the Board of Trustees on 03 December 2025.

Signed by order of the Board:

The Trustees are also responsible for maintaining accurate accounting records. These records must disclose, with reasonable accuracy, the financial position of the charitable company at any given time and ensure that the financial statements comply with the Companies Act 2006. Additionally, Trustees must safeguard the Charity’s assets by taking appropriate measures to prevent and detect fraud or other irregularities.

Lucy Soar Ian Kerr, Treasurer Trustee (Interim Chair)

SECTION

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ANNUAL REPORT 2024-25

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEES OF VISION ACTION

Opinion

We have audited the financial statements of Vision Action (the ‘Charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that 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, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not 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 financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work wehave performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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ANNUAL REPORT 2024-25

INDEPENDENT AUDITOR’S REPORT (CONTINUED)

TO THE TRUSTEES OF VISION ACTION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial 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 not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements 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 on the basis of these financial statements.

The extent 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 sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material 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.

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ANNUAL REPORT 2024-25

INDEPENDENT AUDITOR’S REPORT (CONTINUED)

TO THE TRUSTEES OF VISION ACTION

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, the audit engagement team made enquiries of management, and those charged with governance, regarding the procedures relating to identifying, evaluating and complying with;

  1. 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 have knowledge of any actual, suspected or alleged fraud;

  3. the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, General Data Protection Regulations, Charities 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 impact on the financial statements. These included reviewing financial statement disclosures and evaluating advice received from external advisors. There were no significant laws and regulations we deemed as having an indirect impact on the financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluation the rationale in relation to any significant, unusual transaction and transactions entered into outside 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 significant risk 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 further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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 audit work has been undertaken 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 fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the 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) for and on behalf of Richard Place Dobson Services Limited Chartered Accountants Statutory Auditor Richard Place Dobson 1 - 7 Station Road, Crawley, West Sussex, RH10 1HT

Richard Place Dobson Services Limited is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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ANNUAL REPORT 2024-25

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Current fnancial year Unrestricted Unrestricted Restricted Total Total
funds funds funds
General Designated
Fund
2025 2025 2025 2025 2024
Notes £ £ £ £ £
Income and
endowments from:
Donations and legacies 3 473,725 - 50 473,775 365,038
Charitable activities 4 22,324 - 382,106 404,430 671,133
Other incomes 5 1,864 - - 1,864 2,174
Donations and legacies
Total income 497,913 - 382,156 880,069 1,038,345
Expenditure on:
Raising funds
Expenditure on raising
donations and legacies		 6 120,612 - - 120,612 123,523
Charitable activities
Overseas projects 7 353,731 20,123 416,396 790,250 1,142,770
Raising awareness 7 35,978 - - 35,978 35,071
Total charitable
expenditure		 389,709 20,123 416,396 826,228 1,177,841
Total expenditure 510,321 20,123 416,396 946,840 1,301,364
Net expenditure (12,408) (20,123) (34,240) (66,771) (263,019)
Transfers between funds (31,590) 90,957 (59,367) - -
Other recognised gains
and losses:
Other gains 13 1,484 - - 1,484 11,020
Net movement in funds 9 (42,514) 70,834 (93,607) (65,287) (251,999)
Reconciliation of funds:
Fund balances at
1 April 2024		 364,435 118,787 231,153 714,375 966,374
Fund balances at
31 March 2025		 321,921 189,621 137,546 649,088 714,375

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

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ANNUAL REPORT 2024-25

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Prior fnancial year
Notes

Income and
endowments from:
Donations and legacies
3
Charitable activities
4
Other incomes
5
Total income
Expenditure on:
Raising funds
Expenditure on raising donations and
legacies
6
Overseas projects
7
Raising awareness
7
Total charitable expenditure
Total expenditure
Net income/(expenditure)
Transfers between funds
Other recognised gains and losses:
Other gains
13
Net movement in funds
9
Reconciliation of funds:
Fund balances at 1 April 2023
Fund balances at 31 March 2023		 Unrestricted
funds
General
2024
£
346,142
23,948
2,174
372,264
123,523
487,710
35,071
522,781
646,304
(274,040)
49,099
15,944
(208,997)
573,432
364,435		 Unrestricted
funds
Designated
Fund
2024
£
-
-
-
-
-
45,535
-
45,535
45,535
(45,535)
-
-
(45,535)
164,322
118,787		 Restricted
funds
2024
£
18,896
647,185
-
666,081
-
609,525
-
609,525
609,525
56,556
49,099
(4,924)
2,533
228,620
231,153		 Total
2024
£
365,038
671,133
2,174
1,038,345
123,523
1,142,770
35,071
1,177,841
1,301,364
(263,019)
-
11,020
(251,999)
966,374
714,375

29

ANNUAL REPORT 2024-25

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 14 16,270 26,199
Current assets
Debtors 15 431,353 265,740
Cash at bank and in hand 266,640 524,329
697,993 790,069
Creditors: amounts falling due within
one year		 16 (63,589) (56,276)
Net current assets 634,404 733,793
Total assets less current liabilities 7 650,674 759,992
Provision for other liabilities 17 (1,586) (45,617)
Net assets 649,088 714,375
The funds of the Charity
Restricted funds 19 137,546 231,153
Unrestricted funds 21 321,921 364,435
Unrestricted funds - Designated Fund 20 189,621 118,787
649,088 714,375

*The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

This report was approved by the Board of Trustees on 03 December 2025 and signed on its behalf by:

Lucy Soar, Ian Kerr, Treasurer Trustee (Interim Chair)

Company Number: 4027804 (England and Wales) The notes on pages 32 to 46 form part of these accounts.

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ANNUAL REPORT 2024-25

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash absorbed by operations 24 (257,703) (308,490)
Investing activities
Proceeds from disposal of intangibles 1,864 2,174
Purchase of tangible fixed assets (1,850) (11,166)
Net cash used in investing activities 14 (8,992)
Net cash used in financing activities - -
Net (decrease)/ increase in cash and
cash equivalents		 (257,689) (317,482)
Cash and cash equivalents at beginning
of year		 524,329 841,811
Cash and cash equivalents at end of year 266,640 524,329

31

ANNUAL REPORT 2024-25

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

Charity information

Vision Action is private company limited by guarantee incorporated in England and Wales. The registered office is 27 Old Gloucester Street, London, WC1N 3AX.

1.1 Accounting convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommendation Practice which includes Update Bulletin 2 applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective for accounting periods starting after 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Companies Act 2006.

Vision Action meets the definition of public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value except for investments which are carried at valuation. The accounts are rounded to the nearest £ and prepared in sterling.

1.2 Going concern

The Charity reported a net cash decrease of £257,689 for the year. The Trustees have closely reviewed the cash flow forecasts for the following financial year and income pipeline, and are of the view that the current forecast coupled with the focus on developing new sources of sustainable unrestricted funding and further developing our restricted funding pipeline, the immediate future of the Charity is secured, and that on this basis the Charity is a going concern and the accounts are prepared on this basis.

Designated funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are solely used of particular areas of the Charity’s work or specific projects undertaken by the Charity.

1.4 Income

Income is recognised when the Charity has 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.

Donations and sponsorship are accounted for when received.

For legacies, entitlement is taken as the earlier of the date on which either the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the Charity that a distribution will be made, or when a distribution is received from the estate.

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 to the Charity or the valuation the Charity would have had to pay to acquire the assets.

Donated professional services 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 benefit from the use by the Charity of the item is probable and economic benefit 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.

1.3 Charitable funds

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity.

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ANNUAL REPORT 2024-25

1 Accounting policies (Continued)

Income from grants is recognised when the Charity has entitlement to the funds, any conditions 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.

Income from other trading activities includes income earned from trading activities to raise funds for the Charity. Income from donated goods is accounted for when the sale takes place.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

1.5 Expenditure

Resources expended are included in the Statement of Financial Activities on an accrual basis, inclusive of VAT which cannot be recovered. Expenditure which is directly attributable to specific activities has been included in those activities.

Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources and time spent thereon as follows :

2025 2024
Raising donations
and legacies		 13% 14%
Charitable activities 87% 86%

Depreciation is charged, on a straight-line basis, as follows:


follows:
Furniture & fttings 3 years
Computer equipment 3 years
Motor vehicles Limited to the lower of
4 years or the life of the
program
Optical equipment 4 years

1.7 Cash and cash equivalents

Cash at the bank and in hand includes cash and short-term highly liquid investments with short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the settlement value.

Basic financial assets

All debtors are measured and included in the accounts on a basis of their recoverable amount.

Basic financial liabilities

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 third party.

Restricted fund costs consist of those directly attributable to specific activities only.

1.6 Tangible fixed assets

Assets in excess of £1,000 intended to be of ongoing use to Vision Action in carrying out its activities are capitalised as fixed assets.

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ANNUAL REPORT 2024-25

Accounting policies (Continued)

1.9 Taxation

The Charity is exempt from Corporation Tax under Chapter 3 of Part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that the surpluses are applied to its charitable purposes.

1.10 Provisions

Provisions for future liabilities are recognised when the Charity has a legal or constructive financial 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 certainty. Provisions for redundancy and end-of-contract obligations are calculated in accordance with relevant country statutory obligations.

are considered to be relevant. Actual results may differ from these estimates.

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

Key sources of estimation uncertainty

Professional volunteer time

The value of professional volunteer time is estimated in the SOFA as hours worked multiplied by the estimated market value for services provided.

1.11 Employee benefits

Expenditure is recognised for wages and salaries resulting from employee service to the charity during the reporting period. A liability for paid annual leave is recognised only if deemed material at the year-end date.

1.12 Retirement benefits

The Charity operates a defined 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.

1.13 Foreign exchange

Transactions in foreign currencies are recorded using the exchange rate at the beginning of the month in which the transaction took place. Monetary assets and liabilities are revalued at the exchange rate on the first day of the following month. All exchange differences are recorded in the SOFA.

2. Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that

34

ANNUAL REPORT 2024-25

3. Income from donations and legacies

Current fnancial year
Unrestricted
funds
General
2025
£
Donations and gifs
110,569
Legacies
278,501
Grants
48,250
Donated goods and services
14,405
Other
22,000
473,725		 Restricted
funds
2025
£
50
-
-
-
-
50		 Total
2025
£
110,619
278,501
48,250
14,405
22,000
473,775		 Unrestricted
funds
General
2024
£
111,785
139,778
21,248
30,131
43,200
346,142		 Restricted
funds
2024
£
18,896
-
-
-
-
18,896		 Total
2024
£
130,681
347,554
21,248
30,131
43,200
365,038

4. Income from charitable activities

Unrestricted
funds
2025
£
Income from charitable
activities
Performance related grants
-
Other
Other income
22,324
22,324		 Restricted
funds
2025
£
382,106
-
382,106		 Total
2025
£
382,106
22,324
404,430		 Unrestricted
funds
2024
£
-
23,948
23,948		 Restricted
funds
2024
£
647,185
-
647,185		 Total
2024
£
647,185
23,948
671,133

5. Other income

Interest income from deposit account

Unrestricted Unrestricted
funds funds
2025 2024
£ £
1,864 2,174

35

ANNUAL REPORT 2024-25

6. Expenditure on raising funds

Unrestricted
funds
2025
£

11,267
79,202
30,143
120,612
Fundraising and publicity
Direct costs
Staf costs
Support costs
Total expenditure on raising funds		 Unrestricted
funds
2024
£
18,118
79,002
26,403
123,523

7. Expenditure on charitable activities

Overseas
projects
2025
£
Raising
awareness
2025
£
Direct costs
Staf costs
285,835
22,208
Depreciation and impairment
11,779
-
Other direct costs
300,182
4,495
597,796
26,703
Share of support and governance costs (see note 8)
Support
192,454
9,275
790,250
35,978
Analysis by fund
Unrestricted funds - General
353,731
35,978
Unrestricted funds -
Designated Fund
20,123
-
Restricted funds
416,396
-
790,250
35,978		 Total
2025
£
308,043
11,779
304,677
624,499
201,729
826,228
522,781
20,123
416,396
826,228		 Overseas
projects
2024
£
452,124
19,924
475,585
947,633
195,137
1,142,770
487,710
45,535
609,525
1,142,770		 Raising
awareness
2024
£
24,583
-
4,529
29,112
5,959
35,071
35,071
-
-
35,071		 Total
2024
£
476,707
19,924
480,114
976,745
201,096
1,177,841
522,781
45,535
609,525
1,177,841

36

ANNUAL REPORT 2024-25

8. Support costs allocated to activities

Staf costs
Recruitment costs
Premises costs
Printing, postage and stationery
Telephone and internet
Travel and meeting costs
Ofce expenditure
Governance costs
Analysed between:
Fundraising
Overseas projects
Raising awareness		 2025
£
131,737
5,653
-
8,152
-
17,372
48,783
20,175
231,872
30,143
192,454
9,275
231,872		 2024
£
129,787
2,662
126
953
1,297
3,549
53,607
35,518
227,499
26,403
195,137
5,959
227,499

Overhead cost recovery of £7,107 has been received in the year through restricted funding to cover unrestricted general support costs (2024: £23,697). This has been allocated against support costs on a total cost apportionment basis.

General overhead cost recovery of £4,394 has been allocated against support cost staff costs (2024: £14,134).

There was no general overhead cost recovery allocated against legal and professional fees in the year (2024: £Nil).

9. Net movement in funds

. Net movement in funds
The net movement in funds is stated afer charging/(crediting): 2025
£		 2024
£
Fees payable for the audit of the Charity’s fnancial statements 20,175 27,256
Depreciation of owned tangible fxed assets 11,779 19,924
Interest income (1,864) (2,174)

10. Trustees

Members of the Board of Trustees (who are all Directors within the meaning of the Companies Act 2006) 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 totalled £2,117 for three Trustees (2024: £441 for one Trustee)

37

ANNUAL REPORT 2024-25

11. Employees

mployment costs
Programmes
Finance and administration
Fundraising and communication
Overseas in the country programmes
Total
Wages and salaries
Social security costs
Other pension costs
£70,001 - £80,000
The number of employees whose annual remuneration was more than £60,000
is as follows:
Aggregate compensation
Remuneration of key management personnel
Key management is defned as the executive Senior Management Team (four Executive
Directors/Head of Departments). Key management remuneration in the year was:
Staf headcount within the year		 2025
£
3
2
3
17
25
2025
Number
1
2025
£
161,059
2025
£
475,960
15,142
27,880
518,982		 2024
£
3
2
3
25
33
2024
£
626,170
28,247
31,079
685,496
2024
Number
1
2024
£
274,604

Employment costs

Aggregate compensation

12. Taxation

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

38

ANNUAL REPORT 2024-25

13. Other gains and losses

Current fnancial year Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Gains/(losses) upon: £ £ £ £ £ £
Foreign exchange 1,484 - 1,484 (15,944) 4,924 (11,020)

14. Tangible fixed assets

Current fnancial year
Cost
On 1 April 2024
Additions
On 31 March 2025
Depreciation and impairment
On 1 April 2024
Depreciation charged in the year
On 31 March 2025
Carrying amount
On 31 March 2025
On 31 March 2024		 Optical
equipment
£
6,187
-
6,187
6,187
-
6,187
-
-		 Furniture &
fttings
£
469
-
469
469
-
469
-
-		 Computer
equipment
£
16,412
1,850
18,262
12,412
3,512
15,924
2,338
4,000		 Motor
vehicles
£
68,241
-
68,241
46,042
8,267
54,309
13,932
22,199		 Total
£
91,939
1,850
93,789
65,740
11,779
77,519
16,270
26,199
15. Debtors: Amounts falling due within one year:
16. Creditors: amounts falling due within one year:
Other debtors
Prepayments and accrued income
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
7,351
424,002
431,353
2025
£
10,720
4,540
31,687
16,642
63,589		 2024
£
582
265,158
265,740
2024
£
10,583
14,391
6,863
24,439
56,276

39

ANNUAL REPORT 2024-25

17. Provisions for liabilities

2025 2024
£ £
1,586 45,617

The programme redundancies provision relates to the liability for end of contract or redundancy costs for overseas staff on fixed 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 / redundancy payments. The provision is expected to give rise to a payment of £2k in the year ending 31 March 2026, with the balance expected to be paid in subsequent years in line with the end of specific funded programmes.

Provisions total £1,586 (2023/24: £45,617) of which £Nil (2023/24: £25,852) was attributable to restricted funds and £1,586 (2023/24: £19,766) was attributable to unrestricted funds.

18. Retirement benefit schemes

18. Retirement beneft schemes
2025 2024
£ £
Defned contribution schemes
Charge to proft or loss in respect of defned contribution schemes 27,880 31,079

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

40

ANNUAL REPORT 2024-25

19. Restricted funds

Sierra Leone
Kailahun
Optometry Giving
Sight−Port Loko
PALA Tonkolili
Vision Mundi
USAID Div
Project Orbis International
Ethiopia
The Else Kröne-Fresenius-Stifung (EKFS)
Ghana
Coopervision
The Else Kröne-Fresenius-Stifung (EKFS)
Anonymous Donor
The Spectacle Makers
Medicor Foundation
James Tudor Foundation
Remote Mentoring
Karen Sparrow Fund
Optometry Giving Sight		 At 1 April
2024
£
218
-
-
6,916
2,317
(24,251)
-
38,326
65,587
-
25,000
4,000
-
-
90,971
22,069
231,153		 Incoming
resources
£
50
30,467
-
-
20,761
31,689
29,260
-
-
104,978
-
-
160,000
4,951
-
-
382,156		 Resources
expended
£
-
(16,405)
-
-
(21,418)
(32,803)
(35,982)
(38,839)
(31,349)
(104,978)
(25,000)
(4,000)
(79,598)
(4,951)
-
(21,073)
(416,396)		 Transfers
£
At 31 March
2025
£
-
268
-
14,062
-
-
-
6,916
-
1,660
25,365
-
6,722
-
513
-
-
34,238
-
-
-
-
-
-
-
80,402
-
-
(90,971)
-
(996)
-
59,367
137,546		 Transfers
£
At 31 March
2025
£
-
268
-
14,062
-
-
-
6,916
-
1,660
25,365
-
6,722
-
513
-
-
34,238
-
-
-
-
-
-
-
80,402
-
-
(90,971)
-
(996)
-
59,367
137,546
137,546

41

ANNUAL REPORT 2024-25

19. Restricted funds - (continued)

Previous year:
Zambia
Vision Mundi
Support a School
USAID Child Blindness
Programme
Sierra Leone
Spectacle Makers
Kailahun
Steel Charitable Trust
Optometry Giving Sight-Port Loko
PALA Tonkolili
Vision Mundi
USAID Div
Ethiopia
Support a School
The Else Knrone-Fresenius-Stifung (EKFS)
Veta Bailey
Beatrice Laing
USAID Child Blindness Programme
Ghana
Challenges Worldwide
CooperVision
The Else Knrone-Fresenius-Stifung (EKFS)
USAID Child Blindness Programme
Anonymous Donor
The Spectacle Makers
Remote Mentoring
Britford Bridge Trust
James Tudor
Karen Sparrow Fund
Optometry Giving Sight		 At 1 April
2023
£
3,888
200
-
-
642
3,438
1,125
48,041
4,346
-
-
3,802
21,428
892
-
-
584
33,263
5,502
-
-
-
5,311
1,500
94,658
-
228,620		 Incoming
resources
£
-
430
-
38,021
-
1,174
-
-
2,570
33,233
146,493
-
80,094
-
6,250
90,392
11,745
40,000
87,296
67,812
25,000
4,000
-
-
50
31,521
666,081		 Resources
expended
£
(3,888)
(630)
-
(1,784)
(642)
(4,394)
(1,125)
(48,041)
-
(30,916)
(170,744)
(3,802)
(63,196)
(892)
(6,250)
(90,392)
(12,329)
(7,676)
(107,090)
(40,658)
-
-
(5,311)
(1,500)
(3,737)
(9,452)
(614,449)		 Transfers
£
At 31 March
2024
£
-
-
-
-
-
-
(36,237)
-
-
-
-
218
-
-
-
-
-
6,916
-
2,317
-
(24,251)
-
-
-
38,326
-
-
-
-
-
-
-
-
-
65,587
14,292
-
(27,154)
-
-
25,000
-
4,000
-
-
-
-
-
90,971
-
22,069
(49,099)
231,153		 Transfers
£
At 31 March
2024
£
-
-
-
-
-
-
(36,237)
-
-
-
-
218
-
-
-
-
-
6,916
-
2,317
-
(24,251)
-
-
-
38,326
-
-
-
-
-
-
-
-
-
65,587
14,292
-
(27,154)
-
-
25,000
-
4,000
-
-
-
-
-
90,971
-
22,069
(49,099)
231,153
231,153

42

ANNUAL REPORT 2024-25

PURPOSE OF FUNDING

1. Vision Mundi (Zambia)

2. USAID Child Blindness Programme (Zambia)

3. Spectacle Makers (Sierra Leone)

For purchase, installation and running of 3 power generators located in established Vision Centres (VCs) in Kenema, Bombali and Koidu Districts of Sierra Leone.

4. Kailahun (Sierra Leone)

5. Steel Charitable Trust (Sierra Leone)

6. Optometry Giving Sight (Sierra Leone - Port Loko)

To increase access to eyecare in port Loko district through establishing a Vision Centre and training 2 new Optometry technicians.

7. PALA Tonkolili (Sierra Leone)

To refurbish a defunct Vision Centre in Tonkolili district, Sierra Leone.

8. Vision Mundi (Sierra Leone - Port Loko)

To increasing access to eyecare in Port Loko district, Sierra Leone.

9. Innovation Poverty Action (Sierra Leone)

10. Support a School (including Christmas Appeals)

For school-based child eye care programmes in Sierra Leone, Zambia, and Ethiopia.

11 USAID Child Blindness Programme (Ethiopia)

For Vision4Inclusion: Leave no Child Behind in Ethiopia.

12. The Else Kröne-Fresenius-Stiftung (EKFS)

(Ethiopia)

For ensuring School Eye Health (SEH) for rural communities in Ethiopia.

13. Veta Bailey (Ethiopia)

14. Beatrice Laing (Ethiopia)

Vision for Our Children’s Future – Scaling our School Based Eye Health programme in Ethiopia.

15. USAID Child Blindness Programme (Ghana) For Child Eye Health in Northern Ghana.

16. Challenges Worldwide (Ghana)

To conduct a market feasibility study for a social enterprise model in Ghana.

17. CooperVision (Ghana)

18. The Else Kröne-Fresenius-Stiftung (EKFS) (Ghana)

Scaling up community based Primary Eyecare in Ghana.

19. Anonymuous Donor (Ghana)

Supporting Primary Eyecare in Ghana.

20. The Spectacle Makers Foundation (Ghana) Supporting Primary Eyecare in Ghana.

21. Britford Bridge Trust (Remote Mentoring) For remote mentoring scheme, Sierra Leone and Zambia.

22. Optometry Giving Sight (Training)

For strengthening the optometry profession for improved eye care services in Ethiopia, Zambia and Ghana through targeted continuous professional development (CPD).

23. James Tudor Foundation (Ghana)

To support scaling up child eye health in Northern Ghana.

24. Britford Bridge Trust (Remote Mentoring)

25. James Tudor (Remote Mentoring)

To support a remote mentoring pilot scheme.

26. Optometry Giving Sight (Training)

For strengthening the optometry profession for improved eye care services in Ethiopia, Zambia, and Ghana through targeted continuous professional development (CPD).

Match funding to support scaling up school eye health services in Ethiopia.

43

ANNUAL REPORT 2024-25

20. Unrestricted funds - Designated Fund

Vision Action has put aside three designated funds: Anthony’s Eyes Cataract Programme for Sierra Leone, established in honour of Anthony’s legacy and wishes; Investment in Fundraising, as agreed with Vision for a Nation Trustees through the memorandum of understanding; and the Karen Sparrow Fund, which supports training and education programmes across Zambia, Ethiopia, Ghana, and Sierra Leone, reflecting Karen Sparrow’s passion in training and education.

At 1 April Resources Transfers At 31 March
2024 expended 2025
£ £ £ £
Anthony’s Eyes Cataract Programme 13,202 (13,188) (14) -
Investment in Fundraising 105,585 - - 105,585
Karen Sparrow Fund - (6,935) 90,971 84,036
118,787 (20,123) 90,957 189,621
At 1 April Resources Transfers At 31 March
Previous year: 2023 expended 2024
£ £ £ £
Anthony’s Eyes Cataract Programme 58,737 (45,535) - 13,202
Investment in Fundraising 105,585 - - 105,585
164,322 105,585 (32,923) 118,787

1. Anthony’s Eyes (Sierra Leone)

For provision of cataract surgical services in Sierra Leone.

2. Investment in Fundraising

Funds from Vision for Nation Foundation have been set aside for Investment in Fundraising.

3. Karen Sparrow Fund

To support training and education programmes across Zambia, Ethiopia, Ghana and Sierra Leone.

44

ANNUAL REPORT 2024-25

21. Unrestricted funds

The unrestricted funds of the Charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2024
£
364,435
At 1 April
2023
£
573,432		 Incoming
resources
£
497,913
Incoming
resources
£
372,264		 Resources
expended
£
(510,321)
Resources
expended
£
(646,304)		 Transfers
£
(31,590)
Transfers
£
49,099		 Gains and
losses
£

1,484
Gains and
losses
£

15,944		 At 31 March
2025
£
321,921
At 31 March
2024
£
364,435

22. Analysis of net assets between funds

22. Analysis of net assets between funds
Unrestricted
funds
General
2025
£
Unrestricted
funds
Designated
Fund
2025
£
On 31 March 2025:
Tangible assets
16,270
-
Current assets/(liabilities)
307,237
189,621
Provisions
(1,586)
-
321,921
189,621
Unrestricted
funds
General
2024
£
Unrestricted
funds
Designated
Fund
2024
£
On 31 March 2024:
Tangible assets
26,199
-
Current assets/(liabilities)
383,853
118,787
Provisions
(45,617)
-
364,435
118,787		 Restricted
funds
2025
£
-
137,546
-
137,546
Restricted
funds
2024
£
-
231,153
-
231,153		 Total
2025
£
16,270
634,404
(1,586)
649,088
Total
2024
£
26,199
733,793
(45,617)
714,375

45

ANNUAL REPORT 2024-25

23. Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

24. Cash absorbed by operations
(Defcit)/surplus for the year
Adjustments for:
Foreign exchange diferences
Bank interest received
Depreciation and impairment of tangible fxed assets
Movements in working capital:
Decrease in debtors
(Decrease)/increase in creditors
(Decrease)/increase in sprovisions		 2025
£
(66,771)
1,484
(1,864)
11,779
(165,613)
7,313
(44,031)
(257,703)		 2024
£
(263,019)
11,020
(2,174)
19,924
9,520
(92,256)
8,495
(308,490)

25. Analysis of changes in net funds

The Charity had no material debt during the year.

46

ANNUAL REPORT 2024-25

IN ACKNOWLEDGEMENT AND THANKS

WE WOULD ALSO LIKE TO ACKNOWLEDGE THE SUPPORT OF THE INSTITUTIONS, TRUSTS & FOUNDATIONS WE HAVE WORKED WITH:

Beatrice Laing Trust, The Britford Bridge Trust, The Else Kröner-Fresenius-Stiftung. Innovation Poverty Action, The James Tudor Foundation, Medicor Foundation, Karen Sparrow Training and Education Fund, Optometry Giving Sight, Scouloudi Foundation, Project Orbit International, The Spectacle Makers’ Charity, The Steel Charitable Trust, Veta Bailey Charitable Trust, Fundacion Vision Mundi, The William Brake Charitable Trust, USAID - United States Agency for International Development.

Our Honorary Patrons are:

Fiona Bruce James Chen Dame Mary Perkins DBE

Our Honorary Life Members are:

Caroline Clarke Clive Williams David Parkins David Scott Ralphs Felicity Harding Frank Norville Jeremy Jalie Kath Stott Ruth Davies Tym Marsh Vera Wilton

And our Corporate Partners:

Bloobloom, CooperVision, Hall & Co Eyewear, Farther & Sun Limited – trading as Pala Eyewear.

Vision Action is a supporter/member of:

International Agency for the Prevention of Blindness (IAPB), World Health Organization (WHO) SPECS Network, The Coalition for Clear Vision, EYElliance, Clearly, Fundraising Regulator, Institute of Fundraising, BOND, National Council for Voluntary Organisations (NCVO), Charity Finance Group (CFG).

47

Vision Action 27 Old Gloucester Street London WC1N 3AX

Registered charity (in England) no. 1081695