Reglstered number: 04426377
Charity number: 1092209
ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

ONESIGHT ESSILORLUXOTTICA FOUNDATION
{A company limited by guarantee)
CONTENTS
Page
Reference and administratlve details of the Company, Its Trustees and advlsers
Trustees, report
Independent examlner's report
Statement of financlal activities
Balance sheet
Notes to the flnanclal statements
8-12

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
S Melani
F Ferrante (resigned 2 July 2024)
T Drzich (appoinled 23 January 2023)
S Cavaye (resigned 31 July 2024)
A Hans (appointed 23 January 20231
Company reglstered number
04426377
Charity registered number
1092209
Reglstered offlce
101 New Cavendish Street. 1st Floor South, London, W1W 6XH
Independent Examlner
Harris & Trotter LLP. 101 New Cavendish Street, 1st Floor South. London, United Kingdom, W1W 6XH
Page 1

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guaranlee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report logelher with Ihe financial slalements of the Company for the 1
January 2023 10 31 December 2023. The Annual report Serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual report and financial statement5 of the
charitable company comply with the current stalutory requiremenls. the requirements of the charitable company's
governing document and the provisions of Ihe Statement of Recommended Practice {SORP} applicable lo
charities preparing their accounts in accordance wilh the FinanGial Reporting Standard appliGable in the UK and
Republic of Ireland (FRS102) (effective 1 January 2019>.
The financial statements have been prepared in accordance wilh the accounllng policies set out in note 2 to the
accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounling and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accoLtnts in accordance
with the Financial Reportlng Standard applicabl8 in the UK and Republic of Ireland published on 16 July 2014.
Since the Company qualifies as srnall under section 382 of the Companies Act 2006. the Strategic report
required of medium and large companies under the Companies Acl 2006 {Slrategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and aclivltles
One Sight Foundation is committed lo eradicating the global vision care crisis thal affects more than 1.1 .billion
people, many of whom could have their vision reslored with an ey8 exam and a pair of glasses. Provision of an
eye test and a pair of glasses can make a huge difference to the quality of life for these people.
The Foundation is affiliated to a global network of organizations supporting the same objectives,
After sponsoring the educalion and ultimate qualification of three optornetrisls lo work In The Gambia, in 2020
the Foundation devolved the majority of ils fund to Onesighl (USA). Ihe sister charity based in USA, that
operates short-term and long-lerm suslainable eye care clinics on a global basis. The funding was used to
support global Sustainable vision cenlers in the Republic of Zambia and olher countries where the need is great,
bul access to affordable, quality eye exam and glasses does not exist.
The Foundation and its Trustees in conjunction with their colleagues in olher parls of the world are determined lo
contlnue lo identify opportunities to provide sustainable eye care support to those communities most in need.
In selling objectives and planning for activities. Ihe Tru51ees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidance 'Public benefil.. running a
charity IPB2)'.
Achievements and perfomiance
Financial review
a. Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate
resources to continue in operalional existence for the foreseeable future. For this reason. they continue to adopt
the going concern basis in preparing the financial statements. Further delails regarding the adDPtion of the going
concern basis can be found in the accounting policies.
Page 2

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
b. Flnancial perfom)ance
The income for the Foundation in the year under review was £47.07312022-. £52,725) and the expenditure in
furtherance of the charitable objectives, as set out in note 4 to the financial statements was £2,929 12022..
£1,549). The Foundation's cash reserves al Ihe end of the year were £161,543 {2022'. £119.872}.
The trust88s have adopted a policy that, where possible a general funds cash reserve. covering twelve months
administration running Costs should be maintained. The unreslricled funds at 31 December 2023 were £159,443
12022.. £116,428) which is in excess of the running costs of the Foundation of £2,929 {2022.' £1,549} for the year
ended 31 December 2023.
The funds will be used to support philanthropic refractive error activities across UK and overseas.
In accordance with the Memorandum and Articles of Association the trustees have the power to invest in such
assets as they see fit. The Foundation has a policy of keeping surplus liquid funds in short term deposits. This
low risk investment policy provides the flexibilily in making charitable grants and ensures the Foundation had
adequate funds to meet ongoing granl commilmenls and administration costs in accordance with its reserves
policy.
Structure, governance and managemenl
The Foundatlon was Incorporated as a company limited by guarantee on 29 April 2002. and on 24 May 2002 was
registered with the Charity Commission for England and Wales. Its governing document is its Memorandum an
Articles of Association.
The management committee. WI￿ are also the trustees and directors for the purpose of company law, who
served during the year were..
S Melani
F Ferranle
T Drzich
S Cavaye
A Hans
No trustee had any beneficlal int8rest in any contract with the Foundalion during the period.
Existing trustees brief new trustees on the Foundation's aims and objectives. They are given a copy of the
Memorandum and Articles of As50cialion along wilh the latest financial statements. They are also given literature
about the Foundation and a copy of the Charity Commission's guidelines for trustees, which will help them fulfil
their role in line with charity and company law.
Under the Memorandum and Articles of Association, at the firsl annual general meeting all the trustees shall
retire from office and, al every subsequenl annual general meeting, one third of the trustees sh811 retire annually
and be eligible for reappointment.
Page 3

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management (continued)
The trustees review the strategic activities and financial position of the Foundation at ils regular board meetings.
They consider potential risks to which the Foundation is exposed. As part of this process, the trustees have
implemented a risk management strategy which comprises an annual review of the risks which the Foundation
may face and the establishmenl of systems and procedures lo miligate those risks identified in the plan and the
implemenlalion of procedures designed to minimise any potential impact on the Foundation should those risks
malerialise.
Flnancial risk management
Th8 Trustees have assessed the major risks to which the Company is exposed. in particular those related to the
operations and finances of the Company, and are satisfied that SyBtems and procedures are in place lo mitigate
exposur8 to the major risks.
Statement of Trustees, responslbllities
The Trustees (who are also the directors of the Company for the purposes of company law} are responsible for
preparing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requlres the Trustees to prepare financial slatements for each financial year . Under Company law,
the Trustees musl not approve the financial slatements unless they are satisfied that they give a true and fair
vlew of the stale of affairs of the Company and of ils incoming resources and application of resources, including
ts income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly;
observe the methods and principles of the Charities SORP (FRS 102}'.
make judgmenls and accounting estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate to presume thal the
Company will continue business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable Ihem to ensure that the firsancial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for laking reasonable steps for the
prevention and delectlon of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 11 September 2024 and signed on their behalf
A Hans
Page 4

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examlnerfs report to the Trustees of Onesight Essllorluxottica Foundatlon ('the
Company,)
report to th8 charity Trustees on my examination of the accounts of the Company for the year ended 31
December 2023.
Responsibllltles and basis of report
As the Trustees of the Company {and its directors for the purposes of company law) you are responsible for the
preparation of the aGcounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Acl'l.
Having satisfied myself that the accounts of Ihe Company ar8 not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination. I report in respecl of my examination of the Company's
accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination
I have followed the Dir8Ctions given by the Charity Commission under section 145{5){bl of the 2011 Act.
Independent examlner's statement
I have completed my examination. S confimi that no matters have come to my attenlion in connection with the
examination giving me cause lo believe:
accounting records were not kepi in respect of the Company as required by section 386 of the 2006 Act;
or
Ihe accounts do not accord with those records: or
the accounts do not comply with the accounting requiremenls of section 396 of the 2006 Act other Ihan
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination: or
Ihe accounts have not been prepared in accordance with the melhods and principles of the Slatemenl of
Recomrnended Practice for accounting and reporting by charities lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102}1,
I have no concerns and have come across rK> Other matters in connection with the examination to which
attenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
Daniel Walters FCA
Harris & Trotter LLP
Chartered Accountants
101 New Cavendish Street
1st Floor South
London, WIW 6XH
Dated.. 11 September 2024
Page 5

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestri¢ted
funds
2023
Tolal
fund5
2023
Total
funds
2022
Nole
Income from:
Donations and legacies
47.073
47,073
52, 725
Total Incomè
47,073
47,073
52,725
Expenditure on:
Govemance costs
2.929
2,929
1.549
Total expendlture
2,929
2,929
7,549
Net income before nel {losses)Igains on
Investments
Nel {lossesVgains on foreign exchange
44.144
{1,129
44,144
11,129)
57,776
2,647
Net movement in funds
43,01S
43,015
53,823
ReconGiliation of funds:
Total funds brought foThYard
Nel mov8ment in funds
116,428
43,015
116.428
43,015
62,605
53,823
Tolal funds carrled forward
159,443
159.443
116,428
The Statement of financial aclivilies includes all gain5 and losses recogni5ed In the year.
The notes on pages 8 to 12 fom part of these financial statements.
Page 6

ONESIGHT ESSILORLUxO￿lCA FOUNDATION
IA company limited by guarantee)
REGISTERED NUMBER: 04426377
BALANCE SHEET
AS AT 310ECEMBER 2023
2023
2022
Note
Current assets
Cash at bank and in hand
161,543
119.872
161,543
119,872
Creditors: amounts falling due within one
year
12,100
(3.444)
Net current assets
159,443
116,428
Total assets less Current liabilities
159,443
116,428
Net assets ex¢luding pension assel
159,443
116,428
Total net assets
159,443
116,428
Charlty funds
Unrestricted funds
159,443
116,428
Total funds
159,443
716.428
The Company was entitled to exemption from audil under section 477 of the Companies Acl 2006.
The members have nol required the company to obtain an audit for the year in question in accordance wilh
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with Ihe requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared In accordance with the provisions applicable to entities subject lo
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 11 September 2024 and
Signed on their behalf by-
The notes on pages 8 to 12 fomi part of these financial statements.
Page 7

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General informatlon
One Sight Foundation is a private charitab18 company, limited by guarant88. incorporated in England and
Wales. Company registered number.. 04426377. Charity number 1092209.
Accounting policies
2.1 Basls of preparatlon of flnancial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
Accounting and Reporting by Charities: Statemenl of Recommended Praclice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006.
Onesight Essilorluxottica Foundalion meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised al historical cosl or Iran5aclion value unless olherwise
stated in the relevant accounling pollcy.
2.2 Income
All income is recognised once the Company has entitlement to the income. il is probable that the
income will be received and the amount of income receivable can be measured reliably,
2.3 Expenditure
Expenditure is ￿COgniSed once there is a legal or constructive obligation to Iran5fer economic benefit
to a third party. it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs
of each activity are made up of the total of direct cosls and shared costs, including support costs
involved in undertaking each activity. Direct Costs altribulable lo a single activity are allocated directly
to that activity. Shared costs which contribute lo more Ihan one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Cenlral staff costs are allocated on the basis of time spent. and depreciation
charges allocated on the portion of the asset's use.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when Ihe conditions allaching are
fLtlfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commilment. but not accrued a5 expendilure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term hFghly liquid investments with a short maturity
of three month5 or less from the date of acquisition or opening of the deposil or similar account.
Page 8

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounllng poll¢les (continued)
2.5 Liabllitles and provisions
Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past
event, it is probable that a Iransfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to sellle the debt or
the amount it has received as advanced payments for Ihe goods or Services il must provide.
Provisions are measured al the besl estimale of the amounts required to setlle the obligation. Where
the effect of the lime value of money is malerial. Ihe provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.6 Flnanclal Instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial inslruments are inilially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of th8 Trustees In
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Page 9

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donations and legaGies
Unrestrlcted
funds
2023
Total
fund5
2023
Total
funds
2022
Donations
47.073
47,073
52. 725
Govemance costs
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Accountancy and independent examiner fees
Bank Charges
2,856
73
2,856
73
1.500
49
2,929
2,929
1,549
Independent examiner's remuneratlon
The independent examiner's remuneration amounts lo an independent examiner fee of £2,856 12022
£1,500).
Trustees, remuneration and expenses
During the year, no Trustees received any remuneralion or other benefits (2022 - £NIL).
During the year ended 31 D8￿mber 2023, no Trustee expenses have been incurred (2022- £NIL).
Creditors: Amounts falling due withln one year
2023
2022
Accruals and deferred income
2,100
3,444
Page 10

ONESIGHT ESSILORLUXOThICA FOUNDATION
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Slatemenl of funds
Statement of funds - current year
Balance at
31
Galnsl December
{L05ses)
2023
Balance at 1
January
2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
116.428
47,073
(2,929)
(1,1291
159.443
Statement of funds - prlor yèar
Balance at
31
December
2022
Balance at
7 January
2022
Gains/
(Losses)
Incom8 Expenditu
Unrestrlcled funds
General Funds - all funds
62, 605
52. 725
(1,549)
2,647
116,428
Analysls of net assets between funds
Analysls of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Current assets
Creditors due within one year
161.543
(2,100)
161,543
(2,100)
Total
159,443
159,443
Page11

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limiled by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Currenl assets
Creditors due within one year
719,872
(3,444)
119,872
(3.444)
Total
116,428
116.428
10.
Related party transactlons
During the year, total donations of £10,730 (2022.. £50,416) was received from a company in which a
trustee Is also a director.
Page 12