International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
# **INTERNATIONAL AGENCY FOR THE PREVENTION OF BLINDNESS**
## **TRUSTEES’ REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31 DECEMBER 2024**
Company number: 04620869
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **CONTENTS**
|**ONTENTS**||
|---|---|
||**Page**|
|Trustees’ Report|3|
|Independent Auditor’s Report to the Members of International Agency for the Prevention of Blindness|13|
|Consolidated Statement of Financial Activities|17|
|Consolidated and Charity Balance Sheets|18|
|Consolidated Cash Flow Statement|19|
|Notes to the Financial Statements|20|
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **TRUSTEES’ REPORT**
## **ADMINISTRATIVE DETAILS**
International Agency for the Prevention of Blindness (IAPB) is a company limited by guarantee, registered in England and Wales (company number 04620869) and a charity, registered in England and Wales (charity number 1100559). The registered office is at Northern & Shell Building (4[th ] Floor), 10 Lower Thames Street, London EC3R 6EN.
## **Global Ambassadors**
HRH The Duchess of Edinburgh GCVO
HRH Prince Abdulaziz Ahmad Abdulaziz Al Saud
James Chen
H.E. Ambassador Walton Webson
## **Trustees**
The trustees who served during the reporting period and up to the date of approval of these accounts were as follows:
|**NAME**|**POSITION / NOMINATED BY**|**APPOINTED**|**RESIGNED**|
|---|---|---|---|
|**Officers**||||
|CarolineCasey|President|||
|Muhammad Babar Qureshi|Board Chair and Vice President|||
|DebraDavis|Treasurer|||
|**Appointed Trustees (Founding**|**and 'Category A' Members) non-corporate**|||
|Martine Abel-Williamson|World Blind Union|||
|Jess Blijkers|Light for the World||26 June 2024|
|Rainer Brockhaus|CBM|||
|Jennifer Gersbeck|The Fred Hollows Foundation (FHF)|||
|Ella Gudwin|Vision Spring|||
|Neeru Gupta|International Council of|||
||Ophthalmology|||
|Caroline Harper|Sightsavers International|||
|Scott Mundle|World Council of Optometry||2 April 2024|
|Haidong Zou|Shanghai Eye Disease Centre|||
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
|**NAME**|**POSITION / NOMINATED BY**|**APPOINTED**|**RESIGNED**|
|---|---|---|---|
|**ElectedTrustees**||||
|Kashinath Bhoosnurmath|Operation Eyesight|||
|Wei He|He Eye Specialist Hospital|||
|Derek Hodkey|Orbis|||
|Elizabeth Kurian|Mission for Vision|||
|Fatima Kyari|International Centre for Eye Health|||
|Katherine Overbey|Himalayan Cataract Project|||
|**Regional Chairs and Other Trustees**||||
|Abdulaziz Ibrahim AlRajhi|Regional Chair, Eastern Mediterranean|||
|Francisco Martinez Castro|Regional Chair, Latin America|||
|Valeria Sanchez|Regional Chair, Latin America|26 June 2024||
|AmandaDavis|Regional Chair, Western Pacific|||
|Wolfgang Gindorfer|Regional Chair, Europe|||
|Rohit Khanna|Regional Chair, South East Asia|||
|Aaron Magava|Regional Chair, Africa|||
## **Senior management**
Senior management personnel to whom the trustees delegate day to day management of the charity who served during the reporting period and up to the date of approval of these accounts were as follows:
|Peter Holland|Chief Executive Officer|
|---|---|
|Simon Darvill|Director of Communications, Campaigns and|
||Events|
|Anna McKeon|Director of Capability Building|
|Nick Parker|Director of Development and Operations|
|Jude Stern|Director of Knowledge Management|
|Jessica Thompson|Director of Policy, Strategy and Advocacy (went on|
||maternity leave July 2024)|
|Drew Keys|Director of Policy, Strategy and Advocacy (maternity|
||cover from July 2024)|
|Judith Wilson|Interim Finance Director (consultant) until May 2024|
|Tara Bashir|Head of Finance from May 2024 until March 2025|
|Paul Randall|Interim Head of Finance (consultant) from March2025|
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **Professional advice and services**
HSBC Bank, 16 King Street, London, WC2E 8JF
Convera UK Limited, Alphabeta Building, 14-18 Finsbury Square, London EC2A 1AH.
Crowe U.K. LLP, St James House, St James’ Square, Cheltenham, GL50 3PR, Auditors.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
IAPB is constituted as an international membership organisation. The Memorandum and Articles of Association dated December 2002 and amended in September 2007 and 2023 set out the objects and powers of the organisation. The charity is governed by a Board of Trustees which has legal, financial and oversight responsibility for the charity and delegates day to day management and decision-making to the Chief Executive Officer and senior team.
The Audit Committee have reviewed The Charity Governance Code and applied the appropriate standards of recommended practice.
The trustees constitute directors of the charitable company for the purposes of the Companies Act 2006 and trustees of the charity for the purposes of the Charities Act 2011. Trustees are recruited and appointed in accordance with the Articles of Association as either Officers, Appointed trustees, Elected trustees (elected by IAPB’s membership organisations), or Regional chairs / individuals.
nomination process. All members are then invited to vote for one candidate per seat via our electronic platform. When voting closes the person with the most votes is elected as a trustee.
All trustees receive an induction which includes meetings with the CEO and other members of the executive team. All trustees are required to complete a consent form and a declaration of interest form. Declarations of interest and related parties are re-confirmed annually.
The Executive Committee approve the arrangements for setting the remuneration of the charity’s key management personnel and wider staff each year. Every three years a pay benchmarking review is carried out to ensure that remuneration for all staff remains appropriate to their role and location.
**Sub-committees:** the Board has established two sub-committees: the Executive Committee, which meets every other month, and the Audit Committee which meets twice a year.
**Subsidiary company:** the charity has a wholly-owned subsidiary company, IAPB Trading Limited, which has not traded in 2024 or 2023.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **STATEMENT OF PUBLIC BENEFIT**
the purpose to reduce the number of people globally that experience visual impairments.
and are confident that the charity’s intent and its performance clearly demonstrate that IAPB provides a global public benefit.
## **OBJECTIVES AND ACTIVITIES**
The vision of the organisation is to have a world where no one experiences unnecessary or preventable sight loss and everyone can achieve their full potential.
A public health challenge as large as sight loss, which affects over 1.1 billion of us, requires collective action by governments, private sector, civil society, professionals and the wider public. Representing a unique and unparalleled global membership from over 100 countries, IAPB is a not-for-profit charity, solely focused on delivering the collective goal to end avoidable sight loss and driving awareness of eye health around the world. IAPB members range from international charities, eye hospitals and academic institutes through to professional bodies and corporates. On behalf of this diverse and unique mix of organisations, we provide a powerful, unified and trusted voice on an issue that affects every human on the planet. We work tirelessly to ensure our sector gets the political, health and development priority it needs and deserves. We work through collective action at the intersection of public health, development and markets. We ensure that our members’ voices are heard at the highest levels and fight to unlock political will and financing while also changing perceptions and policy.
In addition to our advocacy work, our activities include: building a global evidence base with practical tools and approaches, designing and coordinating global awareness raising campaigns about the importance of eye health, and bringing together and convening eye health organisations and others to develop approaches to improve access, develop capacity and use technology to reach people who do not have access to the eye care services they need.
## **2030 In Sight Objectives: ending avoidable sight loss**
2030 In Sight is the sector’s strategic plan to ensure that eye health receives the global political, health and developmental priority it needs to enable access to eye care for the more than 1.1billion people who do not currently have access to the services they need.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
The objectives of _2030 In Sight_ are that, by 2030, we want to see a world where:
- No-one experiences unnecessary or preventable sight loss and everyone can achieve their full potential.
- Eye care and rehabilitation services are accessible, inclusive and affordable to everyone, everywhere, whenever they are needed.
- People understand the importance of caring for their own eye health and demand access to services, free from the weight of any social stigma.
## **Grant-making activities, volunteers, and social investments**
The charity has not made any use of grant-making to deliver its activities during 2024.
The charity is aware of the power to make social investments under the Charities Act 2011 (as amended) and will keep this under review.
## **ACHIEVEMENTS AND PERFORMANCE**
The main achievements of the charity have included hosting a major successful international event, 2030 In Sight Live, in Mexico; advocacy work at a global and regional level; and important published research. Highlights for 2024 included:
- UN Friends of Vision mark World Sight Day by screening the vision of hundreds of UN staff members in New York.
- Dr Earle Courtenay, UN Chef De Cabinet, shows his support for eye health at the United Nations HQ.
- UN Women form cross-sector partnership with UN Friends of Vision.
- IAPB launched the European Advocacy Network.
- 9 winners of the Young Systems Leaders award; recognised for their exceptional work & commitment to eye health.
- Commonwealth Health Ministers reaffirm commitments to eye health at CHOGM, Samoa.
- Our 2030 Insight Live event attracted over 600 delegates from 40 countries.
- IAPB research reveals that children with poor vision learn half as much in school as those with good or corrected vision.
- An IAPB study uncovers that every year, 6.3 million years of schooling are lost globally, with a future economic productivity loss of $173 billion/year.
- 29 new member organisations joined throughout the year.
## **FUNDRAISING**
IAPB does not carry out any direct fundraising with the general public and has not engaged any third party fundraisers. IAPB’s income comprises
membership fees, grant income and income from events. IAPB is registered with the fundraising preference service and is committed to meeting the Code of Fundraising Practice. No fundraising complaints were received during the year (2023: none).
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **FINANCIAL REVIEW**
IAPB generates its income from membership fees, sponsorship and grants which are applied to support the key objectives of the charity. Financial
performance for the year was as follows:
|**Financial Performance**
Income
Expenditure
**Result for the year**
Reserves brought forward
Transfer between funds
**Reserves carried forward**|**2024**
**2024**
**2024**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
3,391,800
586,749
3,978,549
(3,071,141)
(314,922)
(3,386,063)|
|---|---|
||**320,659**
**271,827**
**592,486**
604,608
13,969
618,577
(5,137)
5,137
-|
||**920,130**
**290,933**
**1,211,063**|
**Restricted** At 31 December 2024 the total with restricted reserves carried forward was £290,933; All projects have a surplus balance; including the Coalition for Clear Vision project (2023: deficit balance of £51,851), for which new funds were provided. The Sightfirst Research project had a deficit of £5,137 due to slightly higher than expected costs, which has been covered by a transfer from unrestricted reserves.
As at 31 December 2024 the **unrestricted** reserves were £920,130. The in-year surplus of £320,659 was driven by income that exceeded expectations.
The consolidated **balance sheet** as at 31 December 2024 reported net assets of £1,211,063, with cash balances of £1,428,865, and closing reserves were as shown in the table above.
**Unrestricted reserves** unrestricted free reserves stood at £909,644 after taking this into account. The unrestricted free reserves of £909,644 represent 2.7 months’ of 2025 budgeted unrestricted operating expenditure. This is slightly below the IAPB’s policy of 3 months’ of free unrestricted operating expenditure. In early 2025 the Charity reviewed its plans and reforecast to ensure that unrestricted reserves in 2025 are in line with its reserves policy.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **FINANCIAL MANAGEMENT POLICIES**
Investment policy: the charity does not hold investments and will keep the option under review.
charitable objects which have not yet been spent, committed or designated. They therefore exclude restricted funds (where donors impose criteria for their use), fixed assets (which are in current use to support the ongoing work of the charity) and any funds designated for specific purposes.
The Audit Committee reviews the reserves policy annually to determine the level of unrestricted reserves which should be held by the charity.
The Charity has a policy of maintaining 3 months of unrestricted operating expenditure in unrestricted free reserves.
appropriate over time. The level and form of reserves held is reported at each Board meeting. Compliance with the Reserves Policy is monitored periodically by the Audit Committee.
## **STATEMENT OF GOING CONCERN**
September 2026. Future performance will be supported by the financial principles that unrestricted reserves will be maintained in line with the reserves policy and restricted funding will be secured before a restricted project begins or is extended.
remains a going concern; the accounts have been prepared on this basis.
## **KEY RISKS AND UNCERTAINTIES**
The Trustees are responsible for the management of the risks faced by the charity. The Audit Committee provides scrutiny of the risk register twice a year and reports to the Board which also receives the risk register. The senior management team keep the risk register under review on an ongoing basis. Key controls which support Trustees in managing risk include:
- Formal agenda for Board meetings
- Detailed terms of reference for the Board and sub-committees
- Comprehensive strategic and business planning, budgeting and management accounting processes
- Established organisational structure and lines of reporting, and
- Formal approval and delegation of the annual budget, including authorisation and approval levels.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
The principal risks and mitigating actions are as follows:
- Geopolitical events, including wars, economic pressures, currency markets and health epidemics may undermine IAPB’s relevance and ability to operate effectively.
- Mitigating actions include: ensuring our policy and advocacy work remains relevant, ensuring effective communications with member organisations, scrutiny of financial management based on a prudent approach and holding of cash balances in dollars.
- work with governments and UN entities to mobilise national action and commitments for vision. Develop and deliver global advocacy strategy for the inclusion of the WHO global targets in UHC and the SDGs; and support IAPB members to advocate for greater reporting and action on the targets.
- Resources may become insufficient to deliver IAPB’s strategy and activity plan.
allocation of resources across teams; a focus on staff engagement through new HR resources, staff surveys and an increased focus on staff development; ongoing fundraising.
## **PLANS FOR FUTURE PERIODS**
The charity plans an exciting and ambitious programme for 2025 and beyond, including:
- Preparation work to deliver a successful value of vision campaign, including the first Global Summit on Eye Health in 2026. The Summit will translate global commitments to national action and reinforce and extend global public and political commitments and accountability.
- To deliver a successful Summit plans include the development of a policy and pledging framework; integrated and grown global value of vision campaign and World Sight Day; targeted communications campaign to key audiences to mobilise support; set of country plans and commitments; accountability and monitoring framework agreed and implemented.
- Strengthening advocacy and system leadership capability.
- Develop & disseminate underpinning data and evidence including launching the new Vision Atlas 3.0 and further developing our evidence and knowledge hub.
- Deliver a successful 2030 In Sight Live 2025 in Nepal.
- Provide underpinning member support and growth.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgments and accounting estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- business.
safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **STATEMENT AS TO THE DISCLOSURE OF INFORMATION TO THE AUDITORS**
- That there is no relevant audit information of which the auditors are unaware; and
- to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **APPROVAL**
The Trustees’ Report, which incorporates the Directors’ Report, was approved by the Board on 15[th] September 2025 and signed on its behalf by:
## **Muhammad Babar Qureshi**
## **Board Chair**
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF INTERNATIONAL AGENCY FOR THE PREVENTION OF BLINDNESS**
## **Opinion**
We have audited the financial statements of International Agency for the Prevention of Blindness (‘the charitable company’) and its subsidiary (‘the group’) for the year ended 31 December 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Cash Flow Statement 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:
- Give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 December 2024 and of the group’s income and expenditure, for the year then ended;
- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- Have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (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 group 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 trustee's 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 charitable company's or the group’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.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **Other information**
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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 we have 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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion based on the work undertaken in the course of our audit
- the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ directors’ report and the requirement to prepare a strategic report.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company’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**
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.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP (FRS 102).
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of grant, coalition and sponsorship income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Audit Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing audit procedures over grant, coalition and sponsorship income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Tara Westcott**
## **Senior Statutory Auditor**
For and on behalf of
Crowe U.K. LLP, Statutory Auditor, St James House, St James’ Square, Cheltenham, GL50 3PR
## **Date: 29 September 2025**
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International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure account)**
|Note
**INCOME FROM:**
Charitable activities
Membership
Grants
2
Coalition for Clear Vision project
3
Other income
3
Investment income
**Total income**
**EXPENDITURE ON:**
Raising funds
Income development
Charitable activities
Global advocacy
Campaigns and communications
Events
Knowledge
Strengthening the network
Coalition for clear vision
**Total expenditure**
4
**NET INCOME/(EXPENDITURE) and net**
**movement in funds for the year**
Funds brought forward
Transfer between funds
**TOTAL FUNDS CARRIED FORWARD**
12|2024
2024
**2024**
2023
2023
2023
Unrestricted £
Restricted £
**Total £**
Unrestricted £
Restricted £
Total £
1,758,024
-
**1,758,024**
1,570,978
-
1,570,978
731,924
333,103
**1,065,027**
170,015
818,592
988,607
-
210,695
**210,695**
170,369
170,369
893,832
42,951
**936,783**
345,616
-
345,616
8,020
-
**8,020**
3,416
-
3,416|
|---|---|
||**3,391,800**
**586,749**
**3,978,549**
2,090,025
988,961
3,078,986|
||354,840
-
**354,840**
393,258
-
393,258
-
614,060
11,648
**625,708**
350,038
271,272
621,310
831,305
-
**831,305**
667,833
110,000
777,833
358,907
-
**358,907**
257,872
-
257,872
341,814
43,693
**385,507**
154,403
156,876
311,279
570,215
134,630
**704,845**
444,020
214,623
658,643
-
124,951
**124,951**
-
399,291
399,291|
||**3,071,141**
**314,922**
**3,386,063**
2,267,424
1,152,062
3,419,486|
||
**320,659**
**271,827**
**592,486**
(177,399)
(163,101)
(340,500)
604,608
13,969
**618,577**
782,007
177,070
959,077
(5,137)
5,137
**-**
-
-
-|
||**920,130**
**290,933**
**1,211,063**
604,608
13,969
618,577|
The notes on pages 20 to 40 form part of these financial statements. All of the above results are derived from continuing operations except as described in note 13 for the subsidiary company. The result of the parent charity for the year ended 31 December 2024 was a surplus of £594,743 (2023: deficit £331,732) comprising an Unrestricted surplus of £317,779 (2023: deficit of £168,631) and a Restricted surplus of £276,964 (2023: deficit £163,101).
17
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **CONSOLIDATED AND CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024**
|Note
**FIXED**
**ASSETS**
Tangible assets
8
Investment in subsidiary
13
**Total fixed assets**
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**Total current assets**
**CURRENT LIABILITIES**
Creditors: amounts falling due within one year
10
**Net current assets**
**Net assets**
**Funds**
Restricted funds
Unrestricted funds
**Total funds**
12|**Consolidated**
**Charity**
Consolidated
Charity
**2024**
**2024**
2023
2023
**£**
**£**
£
£
10,486
10,486
10,929
10,929
-
1
-
1|
|---|---|
||**10,486**
**10,487**
10,929
10,930|
||684,506
715,077
257,549
290,996
1,428,865
1,395,298
1,127,654
1,094,208|
||**2,113,371**
**2,110,375**
1,385,203
1,385,204
(912,794)
(907,542)
(777,555)
(777,557)|
||**1,200,577**
**1,202,833**
607,648
607,647|
|||
||**1,211,063**
**1,213,320**
618,577
618,577|
||290,933
290,933
13,969
13,969
920,130
922,387
604,608
604,608|
||**1,211,063**
**1,213,320**
618,577
618,577|
International Agency for the Prevention of Blindness, company number, 04620869.
Approved by the trustees on 15[th] September and signed on their behalf by:
**Debra Davis, Treasurer**
18
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **CONSOLIDATED CASH FLOW STATEMENT**
|**CONSOLIDATED CASH FLOW STATEMENT**|||
|---|---|---|
|**Net income/ (expenditure) for the reporting period**
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash generated from/ used in) operating activities
**Cash flows from investing activities**
Fixed asset additions
**Analysis of cash and cash equivalents**
Cash at bank and in hand
**Total cash and cash equivalents**|**At 1 January**
**2024**
**£**
1,127,654|**2024**
2023
**£**
£
**592,486**
(340,500)
9,409
11,342
-
-
(426,957)
264,140
135,239
159,454|
|||310,177
94,436
(8,966)
(7,831)|
|||**301,211**
**86,605**|
|||**Cash flow**
**At 31 December**
**2024**
**£**
**£**
301,211
1,428,865|
||**1,127,654**|**301,211**
**1,428,865**|
The notes on pages 20 to 40 form part of these financial statements.
19
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **1. BASIS OF PREPARATION AND ACCOUNTING POLICIES**
1. **Basis of preparation** Standards applicable in the UK (FRS 102) and the Companies Act 2006. They follow the recommendations in the Charities SORP (2019); Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 effective 1 January 2019.
2. The organisation is a **charitable company** limited by guarantee, incorporated in England and Wales. Its registered office and principal place of business is: IAPB, The Northern Shell Building 4th Floor, 10 Lower Thames Street, London, EC3R 6AF. The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. IAPB meets the definition of a public benefit entity as defined under FRS 102.
3. **Going concern basis** : as outlined in the Financial Review the trustees have reasonable expectation that the charity has the resources to continue its activities for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.
4. **Group accounts** have been prepared for the International Agency for the Prevention of Blindness (IAPB) and its wholly owned subsidiary company, IAPB Trading Limited. The charity has taken advantage of the exemptions in FRS 102 from the requirements to present a charity only Cash Flow Statement and certain disclosures about the charity’s financial instruments. The charity has also taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements. The accounts have been consolidated on a line by line basis to include the results of IAPB Trading Limited. The results of IAPB Trading Limited are shown separately in note 13.
5. **Voluntary income**
6. **Income recognition: Grants** specific future period, in which case they are deferred. **Membership fees** are recognised in the financial statements in line with the period in which Members are entitled to benefits. Membership fees received in advance are deferred.
7. **Gifts in kind** represent services provided to the charity at no charge or goods donated for distribution or use by the charity. Goods or services given for use by the charity are recognised when receivable. Gifts in kind are valued at cost if known or else the price the charity would otherwise have paid for the assets or services.
20
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
8. **Support and governance costs** are allocated across charitable activities on the basis of head count.
9. **Resources expended are recognised** in the period in which they are incurred. Resources expended in pounds sterling include attributable VAT which cannot be recovered.
10. **Grants payable** are charged to the SOFA in accordance with the terms and conditions attached to the individual grant agreements. Such grants are recognised as expenditure when the conditions attached are fulfilled – generally as money is requested by the grant recipient. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not as accrued as expenditure.
11. **Pensions:** IAPB provides an ‘auto-enrolment’ pension scheme for UK staff. The pension cost charge shown under staff expenditure represents contributions paid and payable in the year. The assets of these schemes are independent from IAPB and IAPB has no additional liability other than for the payment of those contributions. Pension contributions are also made for international staff.
12. proscribed by the employment contract are accrued when these are earned (by virtue of length of service). Termination payments are valued at the higher of the amount required by law or the amount proscribed by the employment contract and recognised when due less the value of termination benefits previously accrued.
13. **Depreciation** is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Computer equipment (tangible) 33% per annum
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Expenditure on the development of web resources (Intangible assets) are expensed in the year. Prior to 2020 the costs associated with Intangible Assets once fully operational, were amortised over their useful life.
14. **Cash at bank and in hand** includes money held in current accounts and any funds in no- notice deposits and money market deposits.
15. **Debtors** are valued at the amounts owing (or prepaid) less a provision for doubtful debt. Amounts in foreign currencies are valued at the rates of exchange ruling at the balance sheet date.
16. **Financial instruments** are initially recognised at the amount receivable or payable including any related transaction costs. They are held at amortised cost; that is the amount initially recognised less any principal repaid plus any interest accrued. Financial assets held are cash and bank and in hand, together with trade and other debtors. Financial liabilities are trade and other creditors.
21
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
17. **Creditors** are valued at the amounts owing (or income received in advance). Amounts in foreign currencies are valued at the rates of exchange ruling at the balance sheet date.
18. **Restricted funds** may include a fair allocation of management and support costs where allowed by the donor.
19. **Unrestricted funds** are donations and other incoming resources receivable or generated for the objects of the charity. Income is recognised when there is evidence of entitlement, the amount can be measured and the receipt is probable. Where terms and conditions have not been met, or, uncertainty exists as to whether IAPB can meet the terms and conditions otherwise within its control, the income is not recognised but deferred as a liability until it is probable that the terms and conditions imposed can be met.
20. **Foreign exchange** gains and losses are recorded in the Statement of Financial Activities as a net cost of the relevant activity. Transactions in foreign currencies are translated into pounds sterling at a daily rate based on mid-market opening rate at midnight.
21. There are no **sources of estimation uncertainty**
22
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **2. INCOME FROM GRANTS**
|Abbvie
Baush Foundation
CBM Christoffel-Blindenmission
Chen Yet Sen Family Foundation
CooperVision
Cure Blindness Project
Essilor
F Hoffmann-La Roche
Fred Hollows Foundation
Himalayan Cataract Project
Horizon Therapeutics
Hoya Vision Care
Islamic Solidarity Fund for Development
Johnson & Johnson Services
Lions Club International Foundation
National Vision
NVS Kenya Limited
Onesight
Ophthalmology Foundation
Restoring Vision
Safilo
SEVA
Sightsavers
Singapore Tourist Board
The Vision Council
Vision Catalyst Fund
Vision Spring
World Diabetes Foundation
World Health Organisation (WHO)
Yonsei University
Other grants and donations (£5,000 or less)|**2024**
**2024**
**2024**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
103,250
-
103,250
5,000
-
5,000
31,860
-
31,860
-
-
-
23,612
-
23,612
15,000
-
15,000
-
-
-
50,000
-
50,000
46,850
-
46,850
-
-
-
28,693
-
28,693
40,000
-
40,000
-
116,062
116,062
-
190,243
190,243
-
-
-
52,814
-
52,814
-
-
-
30,000
-
30,000
10,803
-
10,803
11,808
-
11,808
35,000
-
35,000
112,000
-
112,000
65,000
-
65,000
1,618
-
1,618
38,616
-
38,616
15,000
-
15,000
15,000
-
15,000
-
26,798
26,798
-
-
-
-
-
-
-
-
-
**731,924**
**333,103**
**1,065,027**|2023
2023
2023
Unrestricted
Restricted
Total
£
£
£
-
-
-
-
-
-
-
67,451
67,451
150,000
150,000
300,000
-
24,235
24,235
-
-
-
-
11,253
11,253
-
42,500
42,500
-
52,123
52,123
-
11,629
11,629
-
-
-
-
-
-
-
71,419
71,419
-
-
-
-
30,439
30,439
-
26,366
26,366
-
87,276
87,276
-
-
-
-
11,629
11,629
-
-
-
-
79,130
79,130
-
61,500
61,500
-
10,000
10,000
-
39,385
39,385
-
-
-
-
11,629
11,629
-
20,468
20,468
20,015
-
20,015
-
5,883
5,883
-
4,277
4,277|
|---|---|---|
|||170,015
818,592
988,607|
23
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **3. OTHER INCOME**
|**3. OTHER INCOME**|||
|---|---|---|
|Commercial Income and Sponsorship
Coalition for Clear Vision project
Other Income|**2024**
**2024**
**2024**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
706,331
42,951
**749,282**
-
210,695
**210,695**
187,501
-
**187,501**
**893,832**
**253,646**
**1,147,478**|2023
2023
2023
Unrestricted
Restricted
Total
£
£
£
330,456
-
330,456
-
170,369
170,369
15,160
-
15,160|
|||345,616
170,369
515,985|
24
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **4. ANALYSIS OF CHARITABLE EXPENDITURE BY COST TYPE**
|Staff costs
Travel and meetings
Events and conferences
Consultancy and other activity
costs
Online resources and
promotions
Other costs
Exchange losses/ (gains)
Support and governance costs
**Total**
_2023_|**Global**
**Advocacy**
**Campaigns and**
**Communications**
**Events Knowledge**
**Strengthening**
**the Network**
**Coalition**
**for Clear**
**Vision**
**Support**
**and**
**Governance**
**Total 2024**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
339,679
314,360
4,752
214,748
503,755
-
373,214
1,750,508
29,161
12,960
50,125
7,033
71,311
-
34,822
205,412
672
3,326
129,210
299
19,756
772
11,935
165,970
4,682
167,858
122,724
45,913
30,569
139,410
128,617
639,773
2,050
61,846
17,054
1,815
536
12
49,140
132,453
45,430
20,136
5,489
18,053
204,492
2,194
194,533
490,327
3,121
(7,498)
851
(17,162)
(86,455)
(17,437)
126,200
1,620
**424,795**
**572,988**
**330,205**
**270,699**
**743,964**
**124,951**
**918,461**
**3,386,063**
200,913
258,317
28,702
114,808
315,721
-
(918,461)
-
**625,708**
**831,305**
**358,907**
**385,507**
**1,059,685**
**124,951**
**-**
**3,386,063**
_621,310_
_777,833_
_257,872_
_311,279_
_1,051,901_
_399,291_
_-_
_3,419,486_|_Total 2023_
_£_
_1,368,489_
_305,057_
_161,215_
_1,083,508_
_84,704_
_336,996_
_79,517_|
|---|---|---|
|||_3,419,486_|
25
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **4. ANALYSIS OF CHARITABLE EXPENDITURE BY COST TYPE** _(continued)_
|**2023**
Staff costs
Travel and meetings
Events and conferences
Consultancy and other activity costs
Online resources and promotions
Other costs
Exchange (gains)
Support and governance costs
Total|**Global**
**Advocacy**
**Campaigns and**
**Communications**
**Events**
**Knowledge**
**Strengthening**
**the Network**
**Coalition**
**for Clear**
**Vision**
**Support and**
**Governance**
**Total 2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
328,961
296,280
-
84,733
494,410
-
164,105
1,368,489
8,935
32,384
63,800
12,132
111,253
24,665
51,888
305,057
14,406
8,822
72,166
2,810
41,718
2,460
18,833
161,215
138,059
170,451
74,045
134,669
54,028
343,498
168,758
1,083,508
-
62,917
21,787
-
-
-
-
84,704
3,274
3,481
1,148
755
120,990
18,509
188,839
336,996
72
(667)
(595)
(382)
25,337
10,159
45,593
79,517|
|---|---|
||493,707
573,668
232,351
234,717
847,736
399,291
638,016
3,419,486
127,603
204,165
25,521
76,562
204,165
-
(638,016)
-|
||621,310
777,833
257,872
311,279
1,051,901
399,291
-
3,419,486|
## **5. NET (EXPENDITURE) / INCOME**
|Net (expenditure)/income is stated after charging the following:|**2024**|2023|
|---|---|---|
||**£**|£|
|Depreciation|9,409|11,342|
|Auditors' remuneration :|||
|Charity audit|20,929|18,885|
|Other services|10,165|2,950|
26
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **6. TRUSTEES' REMUNERATION AND EXPENSES**
No Trustee received any remuneration during the year (2023: £nil).
Expenses of £2,282 were paid on behalf of or reimbursed to 5 Trustees during the year (2023: £11,923 for 5 Trustees) for travel, accommodation and office costs.
27
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **7. STAFF COSTS AND NUMBERS**
|**Staff costs**
Salaries and wages
Social security costs
Pension
Other staff costs
Termination benefits|**2024**
**£**
**1,496,704**
**126,156**
**118,753**
**6,849**
**2,046**
**1,750,508**|2023
£
1,166,249
59,245
101,335
41,659
-|
|---|---|---|
|||1,368,488|
## **Termination benefits**
Redundancy costs included in the above
amount were £nil (2023:£nil).
## **Key Management Personnel**
The aggregate of emoluments, including social security and pension contributions, for key management personnel was £836,493 paid to 10 of the people listed in the Trustees' Report on page 4. (2023: £560,883 paid to 6 people).
The numbers of employees whose emoluments for the year fell within the following bands were:
|£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£120,001 - £130,000
£130,001 - £140,000|**2024**
**-**
**1**
**4**
**-**
**1**
**6**|2023
1
-
3
1
-|
|---|---|---|
|||**5**|
28
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
Owing to the diverse nature of the organisation and its international presence, IAPB uses the services of contractors and consultants to supplement its core staff. In this regard, there were a variety of legal engagements, depending on various factors such as location, role, need for flexibility etc. The figures shown above as salaries and wages reflect those staff employed directly by the IAPB in London and South Africa on IAPB contracts. Other personnel, to all intents and purposes part of the IAPB core team although not on a direct IAPB staff employment contract, are included as secondees, contractors, consultants. The average headcount figure includes the effective number of people involved in overall IAPB global operations.
|**Average Head Count**
Global Advocacy
Campaigns and Communications
Events
Knowledge
Strengthening the Network
Support and Governance costs
**Total**|**2024**
2023
**6**
5
**8**
11
**-**
1
**3**
-
**10**
8
**5**
2|
|---|---|
||**32**
27|
## **Pensions**
IAPB operates a defined contribution pension scheme for all UK-based staff. The Charity’s contribution is 10 per cent of salary.
IAPB also make pension contributions for international staff of 10% or in accordance with individual employment requirements.
29
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **8. FIXED ASSETS**
|**Group and Charity**
**Cost**
At 1 January 2024
Additions during the year
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the period
At 31 December 2024
**Net book value**
**At 31 December 2024**
At 31 December 2023|Tangible
Intangible
**Total**
£
£
**£**
41,717
140,709
**182,426**
8,966
-
**8,966**|
|---|---|
||**50,683**
**140,709**
**191,392**|
||30,788
140,709
**171,497**
9,409
-
**9,409**|
||**40,197**
**140,709**
**180,906**|
|||
||**10,486**
**-**
**10,486**|
|||
||10,929
-
10,929|
All fixed assets held are classified as IT resources.
All Intangibles are internally developed web resources.
30
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
|**9. DEBTORS**
Trade debtors
Amounts owing by subsidiary
Prepayments
Other debtors|**Group**
**Charity**
Group
Charity
**2024**
**2024**
2023
2023
**£**
**£**
**£**
**£**
598,372
598372
161,275
161,275
-
35,246
-
33,447
52,426
52,426
22,853
22,853
33,708
29,033
73,421
73,421|
|---|---|
||**684,506**
**715,077**
257,549
290,996|
31
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
|**10. CREDITORS**
Trade creditors
Accruals
Deferred income
Other creditors
Taxation and Social Security|**Group**
**Charity**
Group
Charity
**2024**
**2024**
2023
2023
**£**
**£**
£
£
133,828
133,204
84,963
84,963
124,369
124,369
109,028
109,028
567,202
567,202
538,472
538,472
34,202
29,574
36,652
36,654
53,193
53,193
8,440
8,440|
|---|---|
||**912,794**
**907,542**
777,555
777,557|
## **Deferred income movements in the year**
|Membership
Grants
Events
Total deferred income|At 31
December
2023
Release
from
previous
year
Addition in
current
year
**At 31**
**December**
**2024**
**£**
**£**
£
**£**
318,108
318,108
356,498
**356,498**
167,000
167,000
125,881
**125,881**
53,364
53,364
84,823
**84,823**|
|---|---|
||538,472
538,472
567,202
**567,202**|
Deferred income is income received in one year for use in the following year or years. Memberships twelve months. The majority of memberships are renewed in January each year. For those that are renewed later in the year, a proportion relating to the months of the following financial year is deferred.
Deferred grant income at 31 December 2024 related to projects and campaigns for 2025.
32
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **11. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS**
|**FUNDS**||
|---|---|
|**2024**
Tangible fixed assets
Net current assets
**Group net assets at the end of the year**
**2023**
Tangible fixed assets
Net current assets
Group net assets at the end of the year|**Restricted**
**funds**
**General**
**funds**
**Total funds**
**£**
**£**
**£**
-
10,486
**10,486**
290,933
909,644
**1,200,577**|
||**290,933**
**920,130**
**1,211,063**|
||-
10,929
10,929
13,969
593,679
607,648|
||13,969
604,608
618,577|
33
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
||**At the**|||Transfers|**At the**|
|---|---|---|---|---|---|
||**start of**|**Incoming**|**Outgoing**|between|**end of**|
|**12. MOVEMENT IN FUNDS**|**the year**|**resources**|**resources**|funds|**the year**|
||**£**|**£**|**£**|£|**£**|
|**RESTRICTED FUNDS-2024**||||||
|**Global Advocacy**||||||
|a. Friends of Vision Secretariat - various funders|-|-|-|-|-|
|b. Retinopathy advocacy||||||
|- Coopervision|-|-|-|-|-|
|- National Vision|-|-|-|-|-|
|- The Vision Council|-|-|-|-|-|
|c. Advocacy to Action||||||
|- CBM Christoffel-Blindenmission|-|-|-|-|-|
|- F Hoffmann-La Roche|-|-|-|-|-|
|- Lions Club International Foundation|-|-|-|-|-|
|d. Capacity Development Programme||||||
|- Islamic Solidarity Fund for Development, IsDB|-|-|-|-|-|
||||||-|
|e. Global Advocacy and Policy Framework: Fred Hollows Foundation|-|-|-|-|-|
|f. World Report on Vision roll-out: CBM Christoffen-Blindenmission|-|-|-|-|-|
|g. Diabetic Retinopathy: World Diabetes Foundation|-|26,798|11,648|-|15,150|
|**Campaigns and Communications**||||||
|h.
- Chen Yet Sen Family Foundation|-|-|-|-|-|
|i.
- Singapore Tourism Board|-|-|-|-|-|
|**Knowledge**||||||
|j. Global Refractive Error Market Report||||||
|- Chen Yet Sen Family Foundation|-|-|-|-|-|
|- Sightsavers|-|-|-|-|-|
|k. Elevating Investment in Eye Health Report: F. Hoffmann-La Roche|-|-|-|-|-|
|l. Vision Atlas: Johnson & Johnson Services|-|190,243|43,693|-|146,550|
|m. School Eye Health Guidelines: Fred Hollows Foundation|-|-|-|-|-|
34
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
|**Strengthening the Network**
n. Sightfirst Research: Lions Club International Foundation
o. Capacity Development Programme
- Islamic Solidarity Fund for Development, IsDB
p. Systems Change Project for Latin America: SEVA
q. Advancing IPEC 2023 Regional Dissemination: Fred Hollows Foundation
r. Africa Partnership Funding:
- NVS Kenya Limited
- Swiss Red Cross (Schweizerisches Rotes Kreuz)
s. Insight Live Exemplar Development: CBM Christoffel-Blindenmission
t. Western Pacific Sponsorship: Yonsei University
u.**The Coalition for Clear Vision**
**TOTAL RESTRICTED FUNDS**
**UNRESTRICTED FUNDS**
**General funds**|15,046
-
20,183
5,137
-
35,774
116,062
96,108
-
55,728
15,000
-
15,000
-
-
-
-
-
-
-
-
42,951
3,339
-
39,612
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(51,851)
210,695
124,951
-
33,893|
|---|---|
||**13,969**
**586,749**
**314,922**
**5,137**
**290,933**|
||604,608
3,391,800
3,071,141
(5,137)
920,130|
|**TOTAL FUNDS**|**618,577**
**3,978,549**
**3,386,063**
**-**
**1,211,063**|
35
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
- a. Friends of Vision Secretariat: IAPB provides secretariat support to the group of ambassadors at the UN who are member countries of the UN Friends of Vision. This work is partly supported by grant funding.
- b. Refractive Error Advocacy – supporting our advocacy work including the promotion of global targets for refractive error.
- c. Advocacy to Action – this funding supports the development of tools and resources for member organisations to use when advocating at a national level
- d. Capacity development programme – this grant supports global advocacy work with the United Nations and at the World Health Organisation.
- e. Global Advocacy and Policy Framework - funding to support our global policy leadership
- f. World Report on Vision roll-out: funding to support the dissemination and promotion of resources for Integrated People-Centred Eye Care (IPEC).
- g. Diabetic Retinopathy – these funds contribute towards advocacy for Diabetic Retinopathy screening targets and treatment. .
- h. These funds contribute to resourcing for our Love Your Eyes campaign.
- i. Singapore Tourism Board – funding to support the 2030 In Sight Live event in Singapore in summer 2023.
- j. Global refractive error market report – this was a significant study into the supply side market for glasses.
- k. Elevating investment in eye health report – this report was included within the Vision Atlas and promoted to IAPB members.
- l. Vision Atlas – funding to support the development phase of the new Vision Atlas.
- m. School Eye Health Guidelines – development of resources for use by members.
- n. Sight first – funding to support research to assess vision impairment and effective refractive error coverage among school children in Timor L’este
- o. Capacity development programme – funding to build advocacy capacity in Francophile African countries.
- p. Systems change project for Latin America - delivery of systems change training and systems leadership capacity building.
- q. Advancing IPEC – implementation of Integrated People-Centred Eye Care for the Western Pacific region.
- r. Africa Partnership funding – capacity-building in sub-Saharan Africa including research into the training of ophthalmologists in Africa
- s. In Sight Live exemplar development - a grant to support the delivery of a session about exemplar countries at the 2030 ISL event in Singapore.
- t. Western Pacific sponsorship – these funds contribute to developing and supporting advocacy plans for the Western Pacific region.
- u. The Coalition for Clear Vision – delivery of a coalition model to deliver glasses in Kenya and India.
- v. European Vision Health Advocacy - developing a European advocacy and policy network and plan.
- w. Communicating and Connecting Knowledge – funds for the maintenance and support of the Vision Atlas.
36
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **2023 TABLE - COMPARATIVES**
|**2023 TABLE - COMPARATIVES**||||||
|---|---|---|---|---|---|
|||||Transfers||
||**At the start**|**Incoming**|**Outgoing**|between|**At the end**|
||**of the year**|**resources**|**resources**|funds|**of the year**|
||**£**|**£**|**£**|£|**£**|
|RESTRICTED FUNDS||||||
|**Global Advocacy**||||||
|a. Friends of Vision Secretariat - various funders|-|81,165|81,165|-|-|
|b. Retinopathy advocacy||||||
|- Coopervision|-|24,235|24,235|-|-|
|- National Vision|-|26,366|26,366|-|-|
|- The Vision Council|-|26,853|26,853|-|-|
|c. Advocacy to Action||||||
|- CBM Christoffel-Blindenmission|-|5,418|5,418|-|-|
|- F Hoffmann-La Roche|-|7,500|7,500|-|-|
|- Lions Club International Foundation|-|4,500|4,500|-|-|
|d. Capacity Development Programme||||||
|- Islamic Solidarity Fund for Development, IsDB|-|12,893|12,893|-|-|
||||||-|
|e. Global Advocacy and Policy Framework: Fred Hollows Foundation|-|30,465|30,465|-|-|
|f. World Report on Vision roll-out: CBM Christoffen-Blindenmission|-|31,409|31,409|-|-|
|g. Diabetic Retinopathy: World Diabetes Foundation|-|20,468|20,468|-|-|
|**Campaigns and Communications**||||||
|h.
- Chen Yet Sen Family Foundation|-|100,000|100,000|-|-|
|i.
- Singapore Tourism Board|-|10,000|10,000|-|-|
|**Knowledge**||||||
|j. Global Refractive Error Market Report||||||
|- Chen Yet Sen Family Foundation|-|50,000|50,000|-|-|
|- Sightsavers|-|50,000|50,000|-|-|
|k. Elevating Investment in Eye Health Report: F. Hoffmann-La Roche|-|35,000|35,000|-|-|
|l. Vision Atlas: CBM Christoffel-Blindenmission|-|11,778|11,778|-|-|
|m. School Eye Health Guidelines: Fred Hollows Foundation|-|10,098|10,098|-|-|
37
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **Strengthening the Network**
|**Strengthening the Network**||
|---|---|
|n. Sightfirst Research: Lions Club International Foundation
o. Capacity Development Programme
- Islamic Solidarity Fund for Development, IsDB
p. Systems Change Project for Latin America: SEVA
q. Advancing IPEC 2023 Regional Dissemination: Fred Hollows Foundation
r. Africa Partnership Funding:
- NVS Kenya Limited
- Swiss Red Cross (Schweizerisches Rotes Kreuz)
s. Insight Live Exemplar Development: CBM Christoffel-Blindenmission
t. Western Pacific Sponsorship: Yonsei University
**u. The Coalition for Clear Vision**
**TOTAL RESTRICTED FUNDS**
**General funds**
**TOTAL FUNDS**|-
25,939
10,893
-
15,046
-
58,526
22,752
-
35,774
-
79,130
64,130
-
15,000
-
11,560
11,560
-
-
-
87,276
87,276
-
-
-
4,277
4,277
-
-
-
7,852
7,852
-
-
-
5,883
5,883
-
-
-
177,070
170,370
399,291
-
(51,851)|
||**177,070**
**988,961**
**1,152,062**
**-**
**13,969**|
|||
||**782,007**
**2,090,025**
**2,267,424**
**-**
**604,608**|
|||
||**959,077**
**3,078,986**
**3,419,486**
**-**
**618,577**|
38
International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
## **13. SUBSIDIARY UNDERTAKINGS**
IAPB owns the whole of the issued share capital (£1) of IAPB Trading Limited, company number 7842726, Registered office The Northern Shell Building, 4th Floor, 10 Lower Thames Street, London EC3R 6AF. The trading subsidiary was registered in November 2011. The company has not traded in 2024 or 2023. The aggregate amount of the subsidiary company's assets, liabilities and funds at the end of the reporting period was £6,512.
|**Income and expenditure**
Turnover
Cost of sales
Other (income)/ expenses
Surplus/ (deficit)
Donation to parent charity
Surplus/ (deficit) after donation
Reserves brought forward
**Reserves carried forward**|**2024**
**2023**
**£**
**£**|
|---|---|
||-
-|
||-
-
(6,512)
8,768|
||6,512
(8,768)
-
-|
||6,512
(8,768)
-
-|
||**6,512**
**(8,768)**|
## **14. RELATED PARTIES**
No related party transactions took place between the Charity and its subsidiary company.
IAPB Member organisations are the main donors to the charity and some are paid funds in furtherance of IAPB's charitable objects. Decisions on such transactions are made in accordance with the charity's conflicts of interest policy such that Trustees, staff or committee members with a conflict of interest are not involved in the relevant decision making process.
The Trustees who have an interest in any organisation giving funds to or receiving funds from IAPB (other than membership fees) and the aggregate amounts for each related organisation are as follows:
39
## International Agency for the Prevention of Blindness: Consolidated Report and Financial Statements for the Year Ended 31 December 2024
|**Trustees**
**Related organisations**
Muhammad Babar Qureshi (Director, Inclusive Eye Health Initiative)
Rainer Brockhaus (CEO)
**CBM - Christoffel Blinden Mission, Christian Blind**
**Mission e.V.**
**CBM Global Disability**
Jennifer Chen
**Chen Yet-Sen Family Foundation**
Jennifer Gersbeck (Global Advocacy Executive Director)
Amanda Davis (Director of Strategic Initiatives)
**The Fred Hollows Foundation (FHF)**
Nick Kourgialis (Vice President)
**Helen Keller International**
Katherine Overbey (CEO)
**Himalayan Cataract Project**
Jess Blijkers (International Director, Programmes & Advocacy)
Wolfgang Gindorfer (Expert on Uncorrected Refractive Errors & Child Eye
**Light for the World**
Dr Rohit Kanna, Network Director
Elizabeth Kurian, Trustee
**LVPEI Hyderabad Eye Institute**
Kashinath Bhoosnurmath (President and CEO)
**Operation Eyesight Universal**
Derek Hodkey (CEO)
**Orbis International**
Dr Suzanne Gilbert (Senior Director of Research and Strategic Opportunities)
**Seva Foundation**
Dr Caroline Harper (CEO)
**Sightsavers**
Ella Gudwin
**Vision Spring**
Cindy Tromans
**World Council of Optometry**
Neeru Gupta
**International Council of Ophthalmology**
Jackie Grove
**National Vision Inc**
Dr Abulaziz Alrajhi
**King Kheled Eye Specialist Hospital and Research Centre**
Muhammad Babar Quureshi
**Al-Basar International Foundation**
Eliabeth Kurian
**Mission for Vision**
Martine Able Williamson
**World Blind Union**
Bruce Spivey
**Ophthalmology Foundation**
Stuart Roger Cockerell
**Coopervision**
Fatima Kyari
**International Centre for Eye Health**
Haidong Zou
**Shanghai Eye Disease Prevention and Treatment Center**
Katie Buckley
**Johnson and Johnson Vision**
Michelle Sylvanowicz
**Bayer**
Sarah Khor
**Amgen**
Tania Ghiani
**Abbvie**|**2024**
**2024**
**Amount Received**
**Amount Paid**
**£**
**£**
129,912
36,452
1,915
-
271,000
-
243,821
209,707
1,927
-
36,369
-
75,169
-
2,127
79,024
-
-
24,473
-
1,927
-
86,812
-
34,886
-
19,812
-
21,663
-
91,080
-
1,919
-
20,445
-
31,008
-
75,539
-
12,938
-
142,670
-
2,614
-
70,285
-
328,632
-
85,228
-
140,899
-
209,299
-
2,164,369
325,183|2023
2023
Amount Received
Amount Paid|
|---|---|---|
|||£
£
89,905
27,927
450
-
300,000
-
62,123
180,472
-
-
11,629
-
75,565
-
-
-
-
8,372
-
104,565
-
100,300
-
58,872
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
|
|||811,782
208,399|
Amounts received were the grants provided for the purposes set out in Note 12 together with some amounts for sponsorship of events. The amount received from Light for the World was for staff seconded from IAPB to Light for the World. Amounts paid were the costs of some of IAPB’s international staff, hosted by the respective organisations.
40