Reg15tered number: 04426377
Charity number: 1092209
ONESIGHT ESSILORLuxorricA FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
CONTENTS
Page
Reference and admlnistratlve details of the Company, its Trustees and advlsers
Trustees. report
Independent examinerfs report
Statement of financlal activities
Balance sheet
Notes to the flnan¢lal stalements
8-12

ONESIGHT ESSILORLUxO￿lCA FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
S Melani (resigned 16 May 2025)
T Drzich
A Hans
F Corbasson (appointed 16 May 2025)
L Gerversman (appointed 16 May 2025)
Company registered number
04426377
Charity reglstered number
1092209
Reglstered office
101 New Cavendish Street, 1 st Floor South, London, W1 W 6XH
Independent Examlner
Harris & Troller LLP, 101 New Cavendish Street. 1st Floor South, London, United Kingdom, W1W 6XH
Page 1

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual repori logelher wilh Ihe financial statements of the Company for the 1
January 2024 10 31 December 2024. The Annual report serves Ihe purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual report and financial statements of the
charitable company comply with Ihe current stalulory requirements, the requirements of the chafltable company's
governing document and the provisions of the Slalemenl of Recommended Practice ISORPI applicable to
harilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021 (effective 1 January 2019).
The flnancial statements have been prepared in accordance with the accounting pollcies 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.. Statemenl of Recommended Practlce applicable lo charities preparing their accounts in accordance
with Ihe Financial Reporting Slandard applicable in thè UK and Republic of Ireland published on 16 July 2014.
Since the Company qualifies as small under section 382 of the Companies Acl 2006, the Strategic report
required of medium and large cornpanies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objecllves and activities
The Onesight EssilorLuxottica Foundation Is committed to eradicaling the global vision care crisis that affects
rnore than 2.7 billion people. many of whom could have their vision restored with an eye exam and a pair of
glasses. Provision of an eye tesl and a pair ol glasses can make a huge difference to the quality of life for these
people.
The Foundation is affiliated to a global ne￿Ork of organizations supporting the same objectives.
After sponsoring the education and ultimate qualification ol three optomelrists to work in The Gambia. in 2020
the Foundation devolved the majonty of ils fund lo Onesighl EssilorLuxoltica Foundation IUSAI, an affiliated
charity based in USA, that operates short-lerm and long-term sustainable eye care clinics on a global basis. The
funding was used to support global sustainable vision cenlers in Ihe Republic of Zambia and other countriès
where th8 need is great, but access to affordable, quality eye exam and glasses does not exist or is limited.
In setting objectives and planning for activities. the Trustees have given due consideration lo general guidance
published by Ihe Charily Commission relating lo public benefit, including the guidance 'Public benefit.. running a
charity {PB2)'.
Achlevements and performance
Financial review
Going concern
After maklng appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate
resources to continue in operational exislence for the foreseeable future. For this reason, they continue lo adopt
the going concem basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
Page 2

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limlted by guarantee)
TRUSTEES, REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
b. Flnanclal perforniance
The income for the Foundation In the year under review was £158,724 (2023.. £47,073) and the expenditure in
furtherance of the charitable objectives, as set out in nole 4 to the financial statements was £2,748 12023..
£2,929). The Foundation's cash reserves at the end of the year were £315,646 12023.. £161,543).
The trustees have adopted a policy that. where possible a general funds cash reserve. covering twelve months
administration running costs should be maintained. The unrestricted funds at 31 December 2024 were £315,646
12023.. £161.5431 which is in excess of the running costs of the Foundation of £2,748 (2023.. £2.929) for the year
ended 31 December 2024.
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 Irustees have the power to invest in such
assels 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 grant commitments and adminislration costs in accordance with its reserves
policy.
Structure. governance and management
The Foundation was incorporated as a company limited by guarantee on 29 April 2002, and on 24 May 2002 was
registered with the Charity Commlssion for England and Wales. Ils governing docum&nt is its Memorandum and
Articles of Association.
The management committee, who are also the trustees and ¢JireGtors for the purpose of Gompany law, who
served during the year were..
S Melani
T Drzich
A Hans
No trustee had any beneficial interest in any contract with the Foundation during the period.
Existing Iruslees brief new trustees on the Foundation's aims and objectives. They are given a copy of the
Memorandum and Articles of Association along with Ihe latest financial 51atements. 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, at every subsequent annua5 general meeling, one third of the trustees shall retire annually
and be eligible for reappointment.
Page 3

ONESIGHT ESSILORLUXOThICA FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management (contlnued)
The trustees revièw the slrategic activities and financial position of the Foundation at its regular board meetings.
They consider potential risks lo which the Foundation is exposed. As part of this process, Ihe Iruslees have
irnplem8nted a risk managemenl slralegy which comprises an anrbual review of the risks which the Foun(Jation
may face and the establishment of systems and procedures lo mitigate those risks identified in the plan and the
irnplemenlalion of procedures designed lo minimise any polenlial impact on the Foundation should those risks
malerialise.
Financial risk management
The Truslees have assessed the major risks lo which the Company is exposed. in particular those related to the
operations and finances of the Company. and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Statement of Truslees. responslbllltles
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial slalements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year . Under company law,
the Trustees musl not approve the financial slatemenls unless they are satisfied that they give a true and fair
view of the stale of affairs of the Company and of its incoming resources and application of resource5, including
its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consislently.,
observe the methods and principles of the Charities SORP {FRS 102).,
make judgments and accounting estimales that are reasonable and prudenl;
stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequale accounting records that afe sufficient to show and explain
the Company's transactions and disclose wilh reasonable accuracy al any lime the financial position of Ihe
Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularilies.
Approved by order of Ihe members of the board of Trustees on 25 June 2025 and signed on their behalf by..
Page 4

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limiled by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's report to the Trustees of Onesight Essilorluxotti¢a Foundatlon I'the
Company.)
I report lo the charity Trustees on my examination of the accounts of the Company for the year ended 31
December 2024.
Responsibilities and basis of report
As Ihe Trustees of the Company land ils direclors for the purposes of company lawl you are responslble for the
preparation of the accounts in accordance with the requirements of the Companies Acl 20061'lhe 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the
2006 Act and are eligible for independent examinalion, I report in respect of my examination of the Company's
accounts carried out under section 145 of the Charities Act 20111'th8 2011 Act'l. In carrying out my examination
I have followed the Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act.
Independent examiner's statement
I have compleled my examination. l Gonfirm that no mallers have come to my attention in connection with the
examination giving me cause to believe..
accounling records were nol kept in respecl of Ihe Company as required by section 386 of the 2006 Acl,.
or
the accounts do nol accord with Ihose records; or
the accounts do not comply with Ihe accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'lrue and fair view which is nol a matter considered as part of
an independent examination: or
the accounts have nol been prepared in accordance with the methods and principles of the Statement of
Recommended Praclice 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 IFRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper underslanding of the accounts lo be rear.hed.
Danlel Walters FCA
Harris & Trolter LLP
Chartered Accountants
101 New Cavendish Street
1 sl Floor South
London, W1W 6XH
Dated.. 25 June 2025
Page 5

ONESIGHT ESSILORLUXOTTICA FOUNDATION
{A Company limited by guaranlee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
lunds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
158,724
158,724
47,073
Total Income
158,724
158,724
47.073
Expenditure on:
Governance costs
2.748
2,748
2, 929
Total expenditure
2,748
2,748
2,929
Net Income before net losses on Investments
Net Ilossesllgains on foreign exchange
155,976
{2,173
155.976
12,173}
44,144
(1,129)
Net movemènt in funds
153,803
153,803
43,015
Reconciliation of funds:
Total funds brought forward
Net movement in funds
159,443
153,803
159,443
153.803
176,428
43,015
Total funds carried forward
313.246
313,246
759,443
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 10 12 form part of ihese financial statements.
Page 6

ONESIGHT ESSILORLuxorricA FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER: 04426377
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Current assets
Cash at bank and in hand
315,646
161.543
315,646
167,543
Current liabilitles
Credilor5.- amounts falling due within one
year
(2,400)
(2, 100)
Net current assets
313,246
159,443
Total assels less current Ilabilities
313.246
159.443
Net assets excludlng penslon asset
313.246
159,443
Total net assets
313.246
159,443
Charity funds
Unrestricted funds
313.246
159,443
Total funds
313,246
159.443
The Company was entitled to exemption from audit under section 477 of Ihe Companies Act 2006.
The members have not required the company to obtsin an audit for the year in question in accordance with
section 476 of Companies Acl 2006.
The Trustees acknowledge their responsibilities for cOmpl￿'n9 with Ihe requiremenls 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 to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 25 June 2025 and signed
on their behalf by..
A Hans
The notes on pages 8 to 12 form part of th8se financial statements.
Page 7

ONESIGHT ESSILORLUXOThICA FOUNDATION
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
One Sight Foundation 15 a private chantable company, limited by guarantee. incorporaled in England and
Wales. Company registered number. 04426377. Charity number 1092209.
Accounting policies
2.1 Basls of prèparatlon of Ilnanclal statements
The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charilies= Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) {effeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006.
One5ight Essilorfuxotti¢a Foundation meels the definition of a public benefit enlily under FRS 102.
Assets and liabilities are initially recognised al historical cosl or transaclion value unless othe￿ise
stated in the r8levant accounting policy.
2.2 Income
All income is recognised once the Company has enlillement to the Income, il is probabSe that the
income will be received and the amount of income receivable can be measured reliably.
2.3 Expendltur•
Expenditure is recognised once there is a legal or conslwclive obligation lo transfer economic benefit
to a third party, it is probable Ihat a transfer of economic benefits will be required in settlement and
the arnounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support cosls
involved in undertaking each activity. Direcl costs attributable to 3 single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not altribulable lo a single aclivily are apportioned between those activities on a basis consislenl with
the use of resources. Cenlfal staff costs are allocated on Ihe basis ol 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 expendilure when the conditions allaching are
fulfilled. Grants offered subjecl lo conditions which have not been met at the year end are noted as a
commitment. but not accrued as expenditure.
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-lerm highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 8

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.5 Liabillties and provisions
Liabilitles are recognised when there is an obligation al the Balance sheet dale as a result of a past
event, it is probable Ihal a Iransfer of economic benefit will be required in settlement, and the amount
of Ihe setllemenl can be estimated reliably.
Liabilities are recognised at Ihe amount that the Company anticipates il will pay to settle the debt or
the amounl it has received as advanced payments for the goods or seNices it mu51 provide.
Provisions are measured al the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounled at the pre-tax discount rate that reflects the risks specific lo the liabilily. The
unwinding of the discounl is recognised in the Statement of financial activities as a finance cost.
2.6 Flnancial Instruments
The Company only has financial assets and finanrial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their setllemenl value wilh the exception of bank loans which are subsequenlly
measured al amortised cosl using Ihe effective interest method.
2.7 Fund accounllng
General funds are unrestricted funds which are available for use at the discrelion of the 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 limiled by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
158.724
158,724
47,073
Governance costs
Unrestrlcted
fvnds
2024
Total
funds
2024
Total
funds
2023
Accountancy and Independent examiner fee5
Bank charges
2.700
48
2,700
48
2,856
73
2,748
2,748
2,929
Independent examlner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,70012023
£2,856).
Trustees, remuneration and expenses
During ihe year, no Twstees received any remuneralion or olher benefits (2023 - £NIL).
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).
Credltors: Amounts falling due wtthln one year
2024
2023
Accruals and deferred income
2.400
2,100
Page 10

ONESIGHT ESSILORLUXOThICA FOUNDATION
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of funds
Statement of funds - current year
Balance at
31
Gain$1 Oecember
ILosses)
2024
Balance at I
January
2024
Income Expenditure
Unrestrlcled funds
General Funds- all funds
159,443
158,724
{2,748)
12,173)
313,246
Statement of funds - prior year
Balance at
31
December
2023
Balance at
l January
2023
Gains/
(Losses)
Inconie Expenditure
Unrestricted funds
General Funds - all funds
116.428
47,073
(2.929)
(1, 729)
159,443
Analysis of net assets between funds
Analysis of net assets between funds - currant period
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
315,646
(2,4001
315,646
(2.400)
Total
313,246
313,246
Page11

ONESIGHT ESSILORLUXOTTICA FOUNDATION
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of net assets between funds (continued)
Analysis of net assets between funds - Prlor perlod
Unrestricted
funds
2023
Total
funds
2023
Current assets
Creditors due within one year
167,543
(2, 700)
167,543
(2, 100)
Total
159.443
159,443
10.
Related party transactions
During the year, total donations of £1,161 (2023.. £10,730) was receive(I from a company in which a
trustee is also a director.
Page 12