MOORFIELDS LIONS KORLE BU TRLr FOR YEAR ENDED 30 JUNE 2025 Charfty Re8fstratlon Huffer: 1130230 MOORFIELDS LIONS KORLE BU TRUST TRusfEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 SIIONS KORIE&(/ •r£RNAllONALExI
MOORFIELDS LIONS KORLE BU TR(r FOR YEAR ENDED 30 JUNE 2025 CONTENTS Pa8e References and Admlnlstratlve Deta115 of the Charity Trustees, Report Independent Examlner's Rerx)rt Statement of Flnanclal Actlvltles Ilncorporatlng Income and Expendlture AccntI Balance Sheet 10 Notes to the Flnanclal Statements 11
MOORFIELDS LION5 KORLE BU TRuFr FOR YEAR ENDED 30 JUNE 2025 REFERENCES AND ADMINISTRATIVE DEfAILS OF THE CHARITY Trustees Howard Lee Chris Iles Hannah Ba55ey Faal Surinder Kumar hlongia lan Murdoch Evelyn Mensah Raj Das-Bhaumik A1reW Pembert Stewart Sherman Kahn Ichalrpersonl Secretaryrrreasurer Charlty Reglstratlon Number 1130230 Prlnclpal Offlce 23 Aveley Lane Farnham Surrey GU9 8PR Independent Examlner Allstalr Hayward Wrlght Hayward Wright Accoting Group Chartered Accountants 4 Clews Road Redditch Worcs. 898 7ST Bankers Standard Chartered Bank 1 Basinghall Avenue London EC2V 5DD Legal A(fvlsers Bevan Brfttan LLP Fleet Place House Holbom VTaduct London EC4M 7RF JLD & MB Legal Consultancy No. 6 Senchi Street Airport Residential Area Accra Ghana
MOORFIELDS LIOIS KORLE BU TRusr FOR YEAR ENDED 30 JUNE 2025 TRUSTEES. REPORT The Trustees present their repcfft and the unaudited financial statements of the charity forthe year ended 30June 2025. TheTrustees have adopted the provisions of thestatement 0fRecommend Pracb"ce ISORPI "Ac¢xunting and Reporb"ng by Charities" IFRS 1021 in pparing the annual report and finanaal statements of th8 charity. The financial ststements have been prepared in 8ccordance with theaccounting poliaes set out in the notes to tho 8ccounts and comply with the Chanty's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Sl8lement of Recommended Practice applicabje to charities preparing their accounts in accordance wth the Financial Reporting Standart1 applicable in the UK ond Republic ol Ireland published on 18 July 2014 {as amended by Update Bullets"n 1 published on 2 February20161. ObJectlv•s and actlvltles Moothold8 Lions Korte Bu Trust 8im8 to 8uppNt effort8 to tal aVoidae blindness and vi$u81 impaimi&nl in Ghana by develop'ng eye care 8ervice8 at Korle Bu Teaching Hospital in Ghana's caprtal Accra and Ihioughwl Wesl Africa by provtding surgical training for eye Ca personnd from auos$ the region. The Trust has also funded the construction of a building to hws¢ 8 training centre. kn¢y4vn as Ihe Lions Intemabonal Eye Cantra, and thg Koi Bu To8chiNJ Hospllal Ophlhalmokgy Dep8rtrrnl. The Tru8Vs form81 obJ"e¢tives are for the relief of patients and training of ¢)phthalmologists and related stsff attending the Ophthalmology Unil of Korle Bu Teachin9 H¢y4pilal In Ac¢f8 Gh8na and for any other charitable purpose. In pursuance of this purpose. the Twsl&e$ have, in 8rdanCe with section 4 of the Charities Act 2006, hod due regar¢J lo the guidan on publi¢ btrnefil published by tht Charity Commission. The Wortd Health Organisalion (WHO) 8$timalg$ thal 90% of blind people live in developing counlrles. yet 80% of those affected suffer needlessly b8caus8 thelr blindness istrgatable anOr preventsble. Indeed. the restoration of Sight and blindness prevention strategies are among the most cost-offodvo inlgrvenllons In health care, Africa 1$ considered the wlon of the worfd with the greatest need for human resource development lor &ya care. WHO estimates that W&st Afrl¢a has some 2.6 million people who are blind. In Ghana there ara less than 91 ophthalmologists invc4ved in ¢Jlrect semce delivery. serving a population of neady 30.4 million. Two thlrd$ of these have onty had limited training to gn8ble Ihem lo deal with ¢8tsr8Ct blindness, Currently there are no real opportunities for ophlhalmologi81s lo improve through continuing medical education or training in spedfic a$p&cts of eye care le.g. lid surgery, glaucom¥ surgery, etc.) being available wthin the fegion. This has resulted in 9fO01 limitation in the range of eye Care that Can be given in Ghana. The qualty of eye care 18 al80 Ofton poor. Ghana 18 indicative of the wider needs thal exist across the region. Moorfield5 LlonsKorte Bu Trust almsto supwt effort¥ lo make SU01 trairting available for all within Wesl Africa In order to raise the standard of eye care to that of the developed vr1d. The Trust reprèsentation from Moorfields Eye Hospital NHS Foundation Trust. one of the world'8 leading eye hospltals, based In London, and from Llons Clubs Intem8Donal Itx)th Lions Clubs of the British Isles and Llons Clubs Intefnatson81 Fovndation. which are integral parts of the wodds largest servtce dubs organis8b.on dotng what8ver Is necessary to help those in needin cM)munilie8 locally and across the worldl. In 2006 the Trust signed an MOU with the Ministry of Health, Korfe Bu Teaching Hospitsl, University of Ghan8. West African College of Surgeons and West African Health Org8nisation to establish 8 trdining programme indudingthe construction of training centr& integrated in a n•w Department of Ophthalmology to piorw the hands-on training. The Trust hBs (x)mpleted its fundraising lor the rebuilding of the Ophthalmology Department and continues lundraising for the provision of surgical training fao"lities and scholarships, so Ihat eye care [sonnel. partIcUY StArg&on$, from 8¢ro$8 the whole of West Afric8. can attend. Attendees wll take their skills and the ability to train others back lo their hosl nations. The trainirrfj facility is knn as the Lions Intemalional Eye C&ntr8, Korie Bu.
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 TRUSTEES. REPORT (Continued The Trustees are pleed to report that dullng the year tr) 30 June 2025 8 number of trainiThJ and 8ssocial8d a1vie$ have tsken place induding-. The building Continues lo be fully opgr8bonal and agreemwts to enable the feslricted grft of the building lo Ihg KoTle Bu Te8ching Hospital in Ghan8. With roservaiion of use by the Trust for its training programme. have been agreed and work is ongoing to transfer the lease of the land on whith the property slands to Korle Bu Teaching Hospital. Curnulatively lo dale, 67 surgeons have been trained tn Medical Relina module 1. Gl8u¢oma module 1, Glaucoma module 2. Anterior Segment module 1. p8ediric catsr8¢t surgery and an Ocul0&811t pilot cLxJr88. Work has continu•d lo dovel¢)p ¢tr8 in pa•diatric glaucoma SUfgW, o¢uloplastk modulo 1, and m8dlco1 retin8 module 2. By August 2025 we conseryalively estimate that over 270,000 treatm•nts have been ¢arri8d out by surggons tralned dlrectly at Korle 8u and those subsequenlty Ir8ined by all who had attended Korfe Bu. An appeal is in progres8 to fund a fiveyear course devdopment and presentation programme. By the end of Ihl8 pèriod, it is intended that we wll have a majority of required courses available for training. Sijbsequent work on courses to make them run IN West Alrica. BY West Africa, FOR West Africa is ongoing with four cour8e8 entirely West African laughl at present. A Pfoje¢t Fundlng Agreement wa$ wtth Slght saT8 Intematlonal {SSII on 23 Jun8 2023. Th1$ provlde$ lund$ to¢8lln9 £1 $0,000. payable in 3 equal annual bnstalments comm•nang July 2023. The Support wlll cOr th& lomwing 4rna8: 1. EStalSh additional SuSpeaty training programmes within the MLK8 eye centre in Aeu8. 2 Support th8 training and ceriification of sub-specralists in glauc(rfna, digt¢tyc retinopalhy IDRI, paedlatr ophthalmology and any other area that may be estsblished in this partnership. A five-yoar plan developed In 2024 wlll toko the work of th Trust forw¥d ond 8$8isl kn fundralslng afforts. Thg pl¥n 18.. Completsng the lease transfer which VAII enable the buildlng to be ¢Jonated to Korfe Bu Teachlng H08pltal o 8 rgstrictad gift, with res8rvation of uso. $0 that it may develop ils independenl op8rations. Conlinulng wllh the dgvel¢)pmnt of the 8ur9kal tralnlng rrIlS In ¢onSullaOn wAth the We$1 Afrl¢an Colleg• of Surgaons. The further development of 8 programme of Surgical training course¥ in Ihe Li8 Intemolion81 Eye Genlre. Establish sustainability in all artas of the Project to ensure its luture. TheTrustees remain mostgrateful toall donorswhohavecontribut&J support knthisprc¥ect, in particulardjrg the yearunderreview. Srght Savers Intemats"onal, Llons Clubs Intematlonal MD105 Foundation. many Llon$ Clubs ol the Br41ish Isles, 9$ well a$ private donovs In addition lo our genorous donors, the Tfustees would also like to record their gratefvl thanks to the lats Professor Yeboah and the late Evelyn Tay in 8ddition to our partners and stakèholders in Ghana including HE th Pf6sidènt of the Republic of Ghana, thè Gh8na Ministry of Health, the Board of Korte Bu Teaching Hospital, the West Affican College of Surgeons, the British High Commissioner to Ghana. Dr Y.S. Adam, Dr Edith Dogbe, Dr Stephen Akafo, the 10¢81 Ltons Clubs in Ghana and Ihg Ghanaian High Commission in LoThYon for th8lrcontinu8d support 8nd 8S8istsnce during the year.
MOORFIELDS LIONS KORLE BU TRUST
FOR YEAR ENDED 30 JUNE 2025
TRUSTEES, REPORT (Continued)
The Trustees present their accounts for th8 year ondod 30 Jung 21y25.
A5 shown on page 9 of the finanaal statèments. incom8 for the year was £87.487 12024.. £88.5011. Total funds
expendod were £83.433 {2024 £85.5321. whKh meant that netincx)me amwnted to £4.05412024'. £2,989).
As al the date of the balance sheet (30 June 20251, the building continues to be fvlly opefatronal. No work was
ndertaken by the Trust during the year under review to maintabn the building awailing the signing of the
agreements lo enable the building to be donated to Korfe Bu Teaching HoSla1<2024 £ nill.
The Trustees, reserves pollcy is th81 all general fund serveS afy for the expenditure involved in the handover of
th& bulldlng, and for provislon of $urgi¢al trainln9. The reserves policy wll be reviewed once the building ha8 been
Ir8n8ferred lo Korfe Bu Teaching Hospitsl.
Thg levd ol resgrvgs al 30 June 2025 w88 £2,886,285 {2024.. £2,862,231).
The Charity's prtncipal risks are as follow8-.
R16k
he Tru8tee8 do not ralse
nough m¢)ney.
itigatlon
nlThg fuTrJraising.
urrnnl 8tatU8
he fvndraising caMpan ha8
y¢S$fv1ty a¢hieve
MOORFIELDS LIONS KORLE BU TRUST
FOR YEAR ENDED 30 JUNE 2025
TRUSTEES' REPORT (Continued)
The Trustees hold other positions requiring familiarity with good practice in trusteeship and undertake such training as they personally identify as appropriate. Induction is individual to the joining trustee given the simplicity of the current operations.
In the coming year, the Board will review the need for sub-committees in the light of the expansion of its activities.
In past years, the Trust has made grants to provide paediatric eye treatment in Nigeria, using funds donated specifically for that purpose.
This report was approved and authorised for issue by the Trustees on 25[th ] February 2026 and signed on its behalf by:
Stewart Sherman-Kahn
Chair of Trustees
7
MOORFIELDS LIONS KORLE BU TRUST
FOR YEAR ENDED 30 JUNE 2025
INDEPENDENT EXAMINER'S REPORT
Independent Examiner's Report to the Trustees of Moorfields Lions Korie Bu Trust (the "Charity")
I report to the Charity trustees on my examination of the accounts of the Charity for the year ended 30 June 2025.
Responsibilities and basis of report
As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I confirm that I am are qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving us cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination.
Ali�3:J.;L ��l�
Chartered Accountant Hayward Wright Accounting Group 4 Clews Road Redditch Wares. 898 ?ST
Date: 02.03.2026
8
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 STATEMENT OF FINANCIAL AcnvmES {incorporating Income and Expenditure AcCInt> Restricted funds 2025 Total funds Total funds Notes 2025 2024 Income from: Donations and grants Investments 79,194 8,293 79,194 8,293 75.877 12,624 Total Income Expendlture on: Charttable actlvltles 4,5,6 Total expendlture Net Income for the year and movement In funds 4,054 4,054 2,969 Reconciliatlon of fund5: Total funds broLBht forward 2 862 231 2 862 231 2 859 262 Total funds carrled forward 2 866 285 2,866,285 2 862 231 The notes on pages 11 to 16 form part of these financlal statements. All Income and expendlture derlves from continulng actlvitie5. In 2024 and 2025 all Income and Expenditure was tolfrom restricted funds
MOORFIELDS LIONS KORLE BU TRusr FOR YEAR ENDED 30 JUNE 2025 BALANCE SHEEr 2025 20Z5 2024 2024 Notes Current assets Work In progress Prepayments Cash at Bank and In hand Debtor 2,793,689 7,246 27,)5 46,450 2.874,390 2,793,689 136 26.6(K) 2,866,875 Credltors: amounts falllng due wlthln one year Total assets less current Ilabllltles Net assets 2 862 231 2 862 231 Charlty funds Restricted funds 2 862 231 notes on paqes 11 to 16 form part of these finandal statements. The flnancial statements were approved by the TnJ5tees 25 February 2026 and $18ned ¢Jn their behalf by: Stewart Shernwn-Kahn Chair of Trustees io
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General information and basis of preparation The flnancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland {FRS 1021 is51 on 16 July 2014 ias updated through Update Bulletln 1 published on 2 February 20161, the Financial Reporting Standard applicable in the United Kingdom and Rewblic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The charlty has applled Update Bulletln 1 as published on 2 Febrnry 2016 and does not Include a cash flow statement on the grounds that It Is applylng FRS 102 Sectlon 1A. The financial statements have been prepared to give a 'tnE and fair, view and have departed frc4n the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended PractTce applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014. The Moorfields Llons Korle Bu TrLL5t constltutes a publlc beneflt entlty as deflned by FRS 102. The flnanclal Statements are prepared on a golng concern basls under the hlstorlcal cost conventlon, modlfied to Include certain items at fair value. The financial statements are presented in sterling whTch is the functional currency of the charity and rounded to the nearest pound. The slgnlflcant accwntlng policies applied in the preparation of these financial stateffEnts are set out below. These pol7cies have been consistently applied to all years presented unless otherwise stated. 1.2 Funds Restricted funds are funds which are to be used In accordance wlth speclflc restrlctlons imposed by donors, or whlch have been ralsed by the Charfty for partlcular purposes. The Costs of administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income Recognltion All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation, and this reqLrires a level of performance before entitlement can be obtaTned, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. li
MOORFIELDS LION5 KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS (cont'd) 1.4 Expenditure Recogn7tTon All expendlture Is accounted for on an accmals basis and has been classified under headTngs that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payment5 to third partie5, Tt is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: Costs of raising funds include costs incurred seeking voluntary contributions through donation5 and the running of fundraising events during the year; Expendlture on charltable actlvttles Includes all costs Incurred on furthering the objects of the Charlty; and Other expendlture represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expendlture arose. 1.5 Support costs allocatlon Support costs are those that assist the work of the charity but do not directly represent charitable aCtItIeS and Include general management, administratlon and governance costs. They are incurred dlrectly In support of expenditure on the objects of the charity. Debtor The Trust purchased (January 2020 prior to COVID restrictions being introduced) a Laser machlne to enable tralnlng courses to contlnue as planned. Thls debtor will be recovered as part of the arrangements being made to donate the building and equipment to Korle Bu Teachlng Hospltal. Stocks and work In progress The charity has built a facility, the Lions International Eye Centre, at the Korle Bu Teaching Hospital in Ghana. Costs incurred towards the Constrtion and equipping of the Centre have been shown as work in progress. A lease and operating agreement with the Ghana Government has been entered into at peppercorn rent to allow the Charity and its Subsidiary to ¢xcupy land at Korle Bu Teaching Hospital and construct the new department of Ophthalmology. The resulting building will be donated to the Korle Bu Teaching Hospltal as a restricted gift which 11 allow the Charity and its subsidiary to carry out tralnlng actlvltles. The purp)se of the restrlcted gift Is to secure the intent of the project's donors, namely to provide a new building and charitable activitie5 to benefit eye care. Discussions have also now commenced to transfer the lease for land from the Government of Ghana directly to the Korle Bu Teaching Hospital in Ghana. Accordingly, the costs of building, less impairments, are treated as work in progress pending the restricted gift by the Charity of facilities to Korle Bu Teaching hospital. 12
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEAIENTS (ct'd> Going concern The financial statements have been prepared on a going Cern basis as the Trustees believe that no matla1 uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The bLKlgeted income and expenditure is sufficient with the level of resernes for the charity to be able to continue as a going concern. Creditors payable withln one year Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event and the settlement is expected to result in an outflow of economic benefits. 1.10 Foreign currency Foreign currency transactions are initially recognised by applyin8 to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. 1.11 Financlal Instruments The Charity only holds basic Financial Instruments. The flnancial assets aThJ financial liabilities of the Charity are as follows: Work in progre$5 15 classTfied as a basic financial instrument and Is measured at fair Vall less costs to sell Cash at bank is classified as a basic financial instrument and is measured at face value Llabillties - accruals and other creditors will be classified as financial instruments and measured at amortised cost as detailed in Note 9.
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMEp¥fs (c(mt'd) INCOME FROM DONATIONS AND GRANTS 2025 2024 Sight Savers International MD 105 Various Clubs Lions MD 105 Foundation Lions Clubs International Foundation Good Gifts Total donations from trusts and foundations 50,1J)O 17,194 12,IXX) 50,000 9,219 11,915 79.194 75,877 Donatlons from Individuals There are no unfulfilled conditions or other contingencies attached to the government or other 8rants other than those set out in the Charities. activities in note 4. INCOME FROM INVESTMENTS 2025 2024 Moorfield House Rental income less costs 8,293 12,624 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES 2025 tlirect activities 2025 Support costs 2025 2024 Total Total Supporting Children'5 eye treatment Medical training Course Development Maintenance of Moorfields House Total expenditure on charitable actlvlties 5,000 26,936 29,735 33,821 2,187 26,639 36,008 26,639 33,821 28,826 62,647 63,130 14
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMEpifs (cont'd) TOTAL SUPPORT COSTS 2025 2024 Administrative sUPPOrt to Board of Trustees Governance costs Bank charges Fund Raising costs Total support costs 15.203 3.586 1,397 600 20,786 16,775 4,259 1,368 GOVERNANCE COSTS 2025 2024 Independent Examlner's remuneratlon - 2025 accounts Independent Examiner's remuneration - prior years Registration of Charity in Ghana 2,160 176 1,250 2,000 2,259 Total governance costs 3,586 4,259 TRUSTEES The Trustees, who comprlse all the Key Management Personnel of the Charity, neither recelved nor waived any remuneration durlng the year (2024 . £nill. One Trustee received reimbursement of expenses of £ 685 relating to a visit to Ghana in the current year12024: One trustees £1,056>. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 2025 2024 Accruals 8,105 4,644 15
MOORFIELDS LIONS KORLE BU TRUST FOR YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS (cont'd) RECONCILIATION OF FUNDS Balance at1 Jul 2024 Balance at 30 Jun 2025 Income Expenditure Tralnlng Constructlon and FFE 40,256 2 821.975 2.862.231 87,487 (83.433) 44,310 2 821 975 2,866,285 Balance at1 Jul 2023 Balance at 30 Jun 2024 Incorne Expenditure Training Construction and FFE 37,287 2 821 975 2,859,262 88,501 (85,532) 40,256 2 821 975 2 862.231 88,501 85,532 All the Charity s funds are restricted. The Tralnlng Fund represents donations and fwKls raised from various sources that are designated for traTnin8 course5 and for patient treatment. The value of the fund was sufflcient for its stated purposes as at 30 June 2025. The ConstnKtion and FFE Fund represents donations and fur)ds raised to support the building construction and provision of initial fixtures, fittings and equipment for the new Lions International Eye Centre and trafning facility. The value of the fund is sufficient to complete its stated purpose. 16