Charity r•gistratlon numbor 1134105 Company reghtration numbar6844067 {England •nd Wales) EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 eaoo ',opeari Academy of Optometry and Optics '] xeinadin
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms R Lovel-Patdl- &400 psIdent Mrs L Stankowa- Immediate Past President Professor J M GO[aleZ- Meijome- President Dr D Parlarts- Hon Tr&7surer Mrs E Lazuk& Nio)ukud Dr D Oehring Professor E Matlen Profes O Nosth Mr M Vogr Charfty number (England and Wal9$1 1134105 Company number 6844057 Reglster¢d office 4142 Craven Streei London WC2N 5NG Independent examlner Helen Furbn9 FCCA Xewi*Jin North Wesl Luniled 46 Hamilion Square rkenhe•J MerseysNle CH415AR
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS CONTENTS Page Trustees rert Independent examnierfs report StaleTnenl of financial aCvItieS 10 Balance shéèt 11 Notes lo the finanoal sialemenls 12-17
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present Iheirannual report and finanoat statemen15 for the year end8d 31 December 2025. The finano81 slalements have been prepared in COrdan wrth the atxvunting poliaes s6l out in note 1 to the financial slatemenls and Comp with the ChatiV5 Memorandurn and Articjes of assouation, Companie5 Act 2LN)6 and 'Accourrting and Reporting ty Charities." Slatement of Recommended Practice applicable to charities preparing their acunIS in accordance with Ihe FirnCIal Repothg Stsndard appliGablÈ ui the UK aThJ Republic of Ireland IFRS 1021" (effeclNe 1 January 20191. Obioctivos and activiti Ourvislon To be the leading European eye care professTraI neOrk organtsation thal hamonises and raises standard5 and pra(li¢e in cptomelry and iJpbcs. Our Mission To facilitate the changing la of oplomelry and optics in Europ8 by engaging, educating. insp¥ing and molivaling our educators, students, rese8rchers and praciitKJners Io achwe the highest level of practice for the benefit of the publi Our ObJÈets These are set oui in our M8morandum anddeS of Assc#iabon: Thè consÈrvatron and improvemertt of human $)rt for the benefft of the publc indudiig but not limited to'.the developrnent of scientffic knowledge of optometry and optics: th8 advancement and promotion of edtn and resea into optometry and optics and related subjects". and, the womotion for the pUbC benefft of the scionL and practic of optomety artll oplwx. of professional competence and conducl on thè part of its members. The Twstee Board lake5 Strategic des1OnS regarding the threction and d8velopment of the AcAdemy and regularty reviews ils financaal perfomiance. To straamh'n8 deeisK)n-making, the Board has appointed an Execulive Commtttee, which indude5 the PresidenL Pre5id8nL Imm8thate Past Presid&nl. Honorary Treasurer and Education Commiitee Chair. EdUtIon committ•• m•mb•rship 2025.. Prof8ssor Daniela Nosch- Chair Piofes50r José MBnud Gonzalez-meijome Ms Rupal LovelkPat Dr Sonja Zinken Mr G Scheuerer ProfessorA Cervifio Dr Ving Fai Chan Dr M8ria Giulia MLJt Dr Christopher Davey Dr Catherine Porter Ass. ProfessorA Svede Dr fimolhy Wmgert Mr Lorcan BLrtler The Education Committee has ddegated respObartY for OgramMe development. for advising Ihg Board on all stages of optometric and opltcal eduiion and training thmghoul Europe. and lor ensuring that the Academy promotes and 5UPPOrts adNthes whrth enaile tsitThers througho(rt Europe to have in8$131Y high slandards of professional competence. Related Part5 The Academy's stsrt-up phase was funded by an Inte5t free ban froTh The College ol Oplometsi5ts UK, and SUPPKrt was provideij by the College unknl Ihe er of 2016. A loan agreement was signed with the Colkge in January 2017. One Trustee is nominated by The Colkge of Optometrists. The A¢aderny is ned witti the European Council of Optomety and OplK5 (ECOO) which contributes an annual grant and is a strategic partner in supporting charFtable obJ'eciNes of tho A¢ademy. The ECOO Spwing Meeting coincides with the annual nfence of the Academy. The ECOO president laThJlor wetaryl are invited a5 obseTvers to E400 board ting5.
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Strategic Plan TheAcademy is working towards its obpcbve5 Ihrough rts Strateg plan ending December 2D26. Education & clinical piacliEe Researth GtinUe Io PFD¥ide ethicallon throuthoLrt Ike year. Al educaècffll profeOnal eloprnent sessioRsl be evpjence-based arvj e¥gn¢¢J fo #hare th¢ latesl research Yfithin the Conlinue 10 ortyi ow memLEI bose as wel ClINe ID WO colaboti¥ nafjonal ofessional owaDiatrons. knIty and educajional ide 1. Acaderny 2. We1x[ls. 3. Spectal lTrieresl Gmup Forums. 4. Conferencè programmes. 5. CPD aEcredfiatyJtt. 1.Gre* yearloRq p•lnerslMpl SPDn¥onhlp aweements with IndLtsIry p•lnerts. 2Have IAoiYs in kn t seclor orgarusaticn5 le.g. WCO, AAO. BCLA. IM forpH& sessKJns at conferences or meeting5. 3.DevelDP a framewoth for trnernbership ofthe Academy and naliotsal prrfession ZR3w our prt fthiTr the sector, and I.Ew0 acCet0 peer. ¢dTr)urnal¥. 2.Earty career researcthe 3.M¢nlorslw OfagueS via EAOO Fekn. 4.Polenbal MivthrR¢nt" 52&ch proptls klat cr1 benerrt from Invol¥¢01 ofEAOQ and speakto st4Mlents tlthetr Prtylde Felow3 and pre¥eolabon thal they can us¢ al Thaknnavwional meekngs to promote thè
EUROPEAN ACADEMY OF OPTOMETrY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Aehleyements and performance Achievements of the Charity The annual conference programme. held n Liubyana. Skjvenia from 16th lo 18th May 2025. was a collaborative event Mth The OpliL¥l A5s0oatwJn of Slovenk? (DOOSI as the host org8nisation. Coinciding with Ihe ECOO Spring General Assembly. the event prowded a key platform for knowledge exchange. enabling professK)nals to discuss advanLmenls n research. educath)n. dinKal practi(, and policy within oplornetry. dispensirvJ opti¢s and vision sLy&n¢e. This sUPPQrteiJ the Acaderny's charitable objectives, promoting pfofes5iol education. research dissemination and collaboration. We 5uccessfvlly delivered a joint sympospJm with Flmann Academy. a series of webinars with our Education Sponsoi Hoya. rnullipk Specialist Interesi Group meelings, and our valued Academy Hours. Our membership continu8s to grow, with new CAxMS and inslilulions joining our communty. further strengthening our Europeart and lnlemat1)n reath. We continued our partnership with the Ameri(2n AcAderny of Oplomelry, deliveiing a joint symposium. This year. for thè ffirsl timè, we presented an EAOO student researcher grant award and an EAOO earfy career searcher grant award. alongshje the Karen Sparrth¥ award and bvo Bgst Image awards. We increased the involvement Ctf our industry partners Ihrough the introduction of new Sponsof EngagemeritAwards. recognising their active partlp3ti0n in our events. We launched the Student Special Interest Group, a new hub designed lo bring student members together to ¢onnecl. collaborate, and exchange idea5. Our education committee welcomed rew Mernb. $trengttln9 oui 4bilty lo develw) hIghualitY educational initiatives and programmes. Our membership rnMunty ts)ntinued to grow and thrive Ihrough collaboration, share(l expertise. and meaningful engagement. With the growng demand for eyecare. the SCO of prac for owometri%ls ar)d optiC4ans is often h'mited by rÈguialion with"n cwntries. kn the ets)nomic male ghjbally, the cost of spe¢tades is increasing. and the public are looking to buy cheaper products which is reading 10 a dedine n the use of PFofes5ionals wrfhin optical wices in some countries. Despite these ¢allenges within our sector. we remain committed to innovation and lo advancing Ihe htghest $taThJards in optometry and optics. b) Key statistxs & imp8¢t summary: Particlpation: A tolal of 634 tuJnferenc degateS 8ttende(I rectIng strong engagement from professionals. Edwation & Research.. The projramme fealured hour5 of CPt>accrediled educational Sessions and 58 research posters. reinforung the ArAdemy's mmitrnenI to professional development and lilolong learning. Workshops & Coltaboration.. A serEs of hands- workshops were hekj in cx)nference venue Cankariev Dom enhancing c&ni(al training and know transfer. Sp Intere3t Groups ISIGsl.' Delegates took part in 5 SIG512 binocular wsion, 2 myopia management, and 1 student) prowding tgeted distXJ5SK)n5 and promoting profe5sthJnal n8OrkIng in key arèas af expertise. lThJusty & Sponsorship: 15 exhibilots sh(YN(zsed innovative products and services, conlribuling to professKJnal and ()Jmmercial engagenI. The event rec8ived vaknablè support from 13 sponsors. 3 exhibitors, and 2 conferenco partne. ensuring ffinanci81 susta"nabflty while upholding the AdemY'S )arilable rnission. The AGademy acknNledg¥s the colle¢frve efforts ofthe.. DOOS and their communica1BS team lor hostHig and organising the nferenCe. and EAOO Education commttlee arvj ¢hair, Prof Oaniek Nosc* for developing the programme and o)nlenl. Their dedi¢alK)n ensured Ihe effiuent Organisat aThJ o¥Èrall sucyxs of the ConfenCe. The Academy expresses its sincere appreciation to all trIbUtOrS aTvJ StskehdeTs.
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 l Academy Fell¥ship Programrne.. EAOO Felbwship recognises oulstaThJing conth"butnS lo optornety arvj Vision sc4enco. and in 2025, the Acaderny awarded Felowships to 7 indivvjuals.. Christos Papage0r9u. Sharbel Abi Ephrem. Lorcan Butler. Konrad Abram¢zuk. Pascal Blaser, Siofrn Harringt and maxArOl. d) Membership.. In 2025, thèAeAdemy athieved an creaSe in mwmbership with: 242 indivhjual members 358 Sludenl member5 21 inststutw)n mwnbefs 20 professional nstitution mefflbers This growih rellects the increng vistm'lty and rewdnce of our ¢tsitable aim5. der)nStlIng our important role in knowledge exchange, leadership devdopment. and pmfessional athFKemgiL 81 Education and Continuing Professional Development (CPD) The Academy continued lo exparnl its onne leamiThJ initiVeS and digital resour6 and SUSSIu1fy delivered 8 range of wèbinars. ¥Lduding'. Conffidence in Prathce.. Inspiring Myopia Management Case SItKlies th D.l.M.S. Tecnology in partnership wih Hoya Vision Care. Pre-presbyopia.. A New Categ(Y in W)n Care and Idenlifywig the Need for Earty &JlutK)ns in partnership with Hoya Vision Care. Keratoconus-2nd Inlernalional Joint ClU1u Fielmann A¢xdemy at Ploen Castle. Ae2demy Houi.. Academy Hour. The )r1d of SIGS, FEAOO.. Introductwjn to the Fellowship Programmestrenglhening OCT Sklls- Corg Ptin¢iples and Cbnical Cases for Optomelrists, AH". Celgbrating Wodd Optometry Week The Academy issues CPD wlificates enablirKJ members lo points from national regulatory borjies, reinforcing our commilment lo SUPPOTt their felong ieamirBJ. Webpages are updated to enhaFKe the experience of our rnefflbers, partners and stak8holders. The website provides a modam. User-frIend interface with. . enharKed accessibility to education81 m8teriaEs 8nd wofess¥Jnal resources. a centralised hub for industry updates, research publications. aThJ Academy events. improved fiJnth"onality, ensuring seamless access to CPD mateiiaL% and membef benefts. To ensure the platform maInS a valuable and evofving resource. we havg been consislenlly updating the website with new educational content every month. AthJrkn"onalty. onlne SIG forums have been activated, alknwin9 members to engage in dtscussions. share in5ight5, and llabOrate on key tOPKS Wrthin Iheii of expertise. These serve as an intera¢tive space for kwledge exthange. nelworkwig and profeSs*)n growth. Q 2026 and beyond In alignment with OUT chari18b objectNes and Commi1nI to ad¥an¢wvJ edu(ztK)n and profe35ional excellence in optometry and wsion care, the Academy is a¢tNely wotking to expand and diversfy its membersh4). Our aim is lo engage a broadei. ac#ive group of optometric and optul profèssion81$. fostering a collaborative and indusive community dedicated lo lifelong leamB)g and professional devehJpmenL Enhancing Leadership & G0veMae. To fijrther strenglhen our govemance and kadership. theAcademy plans lo.. nominate ambassador5 to adivety promte the A(aderny's mission values. increasin J èngagèment atvl awareness.
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 confimi the role ofthe BoarUsteeS in oversighL deasion-rnaking. aThJ auntab11ty. identifying and managiftg strategic and rtsks develop a strong aderShip pyeline. ensuring that experienc and wel-nntored professionals carry forward theAdernY'S legxy and shape the fthure ofoptomety. 9stsbh.sh dear governan stnthres, defining rnandgies, appointments, and relationships beeen committees, sections. and SIGS lo enhance transparency and operational efficiency. Review or maintsnance of key policies (conllth of intere5( ry)de of o)nducL safeguarding, data prolectionl. Periodic review of govefflance effectiver)ess. Str8tsgic Partnerships & Industy ConaLKI. The Academy remain5 LX)mmrtted to devebping slrategic parlnerships with education81 institutions, rtalional profession bodies, aThJ industy partners. ensuring rnutrjal benefits and responsiveness lo ev01ng educalion and practi needs. Key inib8tNes incMIe.' strengthening laboratiOn WTth ECOO to align wilh European educational and regulatory frameworks. expanding lies with the AAO. losterirMJ intemational cooperatiorb to advale our shared vision for optometric edutiOn and re5earth. èxploring now partnerships within and iwnd the eye Ca lThj1ry. enhancing interdisciplinary èngagèmènt supporting Growth Through Innovat#)n & Sustainablity r8M8win9 the outcome5 ar¥J effectrvene5s of parthership$ to engure Ihey deliver tangibbe beneffts for Members, $18kehoklers. 8nd the widor optomety communty potential risks as50fAaled wtth partnerships To sustain and support Ihe ACadeMS misston. we are corrtinuing on fwsing on en8bling strategies. such as.. public relations and Djmmunicathons to improve w$ibiW. engagement. and stakeholder awareness. digital transf0Ml)n initl8tpS to enhance ae$S to edu¢ional resourS and improve operaiional effiaency. diversified sust81nab fvnding approath lo support finarul resilience and future growth Flnanclal reylew Thè Acad8my was estabfished in 2009 with an interest free h)8n of up to EIOO,O(KJ from the Colege of Optomelrists for a period of three years, ba$eO on profit and loss projection5 which showed Ihai the Academy would break even cumulalivety by the of 2013. The plan Yras that defKits ¥k1 be incurred in the start-up years of 2tKJ9-10 but thèAcadèmy would slart generatirwJ surpluses in 2011. In Jsnuary 2017. th8 TteeS ofthe CoNege of Optornetrists agmd lo wnvert some ¢)f the oulstanding loan into an edueAtional grant, roduLiThJ the level of the Temaining loan to £20.Th)012025- Q3,1351, This signifieanlly reduced the overall level of indebledne5s of the A(zdemy. The Cole's Tfuslees have agreed that the loan amount will be repayable onty il the Academy was lo b8 wound up. or rf it was felt Academy no bnger had such need. We appreciate this ccntinuèd 8UPPOrt. During 2025. the charity le18d income from donations. grants & subscwiplions lolalling 81,8 12024. é85,O981 and incurTed expenses of É57.81912024- E57.4561. rgsulb.ng in a surplus ofQ4,044 (2024 Q7.6401 this added lo thè funds brought forward of É154.144 leaves the fvnds carried forward al É178.188. Reserves Pollcy.. It is the policy of thè Board of Trustees to hdd in reserve suff8nt resources. including The College ol Optometrists loan to cover any financial liablities. The reserves figure is Set at É50k as of 31$1 December 2025.
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORD (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Structure, governance and management Th& charity is a charitable company limited by guarantee. incoFporated in EjIand on 11 March 2009, and estabShed undèr the Memorandum olAssooation. whi¢h ouuinos its objectives and PLyNers, and is governed by ils Artj'cles ofAssociation. The trustee's ad as the directors for the pUoSe$ of tMpanY Iw arKJ as charity tru51ees r the purposes of ¢h8rity law. The board fomialty met 5 times in 2025 and in addition. warwjus e£Jmmittees met and revSewed ilgrns relevant to their respective areas of expertise" The 224 rewrt 8nd stslement of a(xounts wer8 submrtted lo Companies House and the Chority Commission on time. aknng with the o)rnpletion of ihe thanty fetum. The fcllowng policies and documents were reviewed arKb appfoved during the year Conflicts of interest and loy* policy and ¢xJnfiicts of interest reporting fomi Risk regisler Serious ldentS reporting pol EAOO truslee role deSCripn Internal finanu81 controls and reserves poly Complain15 PK)Iicy Anli-money Laundering Poli Risk Management.. Trustees rnoniior risk on a continuous basis. The main risk remain5 ffnancyal-. that the 18vel vf membership incorne, and ¢onferenca and sponsorship grants may not t>9 suffent to meet operational expenses and the aged re5eNes lund, as well as the wjlential loss of theAcademy manager. As debe in the financwl slaternents, costs are controlled and monitored dosely.
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The Memorandum aThJ Arlides of ASs(Ktll prOe that the Trustee5 of thekndemy shouhj include: the Presidenl, the Vice President. thg Immediate Past Preswjenl, Dne Trustee, nominated by a separate educational insbtubon that tseif a rnember ofthe Academy. one Trustee who has been invdved in defNermg education, one Twslee who has been a practisiwwJ gpt0[1¢ or opliryan. one Trustee appointed by the ELEropean Coumyl of Optornetry and Optic5 one Trustee appjinted by the Comege of Optome Trustees are dected by the metnbers for a p2rvJd of three yeaT5. Retiring Tru51ees stand for re•electvJn al the Annual General Meèting but may not setwè nb)r8 Ihan two consecutNe terms. The President is also elected by the members for a terrn of tsvo years. On o)mplel•)n of this term the Vice Pre5MJenl shall becorne the President and serve for 8 tenn of hvo years. On ujmpletion of this t8mi the President will becom8 the Immediat8 Past President and serve for a term of ts¥o years after whth he or she shal reb.re from offi. Existing Tru$lee$ can co-opt an 8ddilional Tnjstee or any wanci8S. The A¢>demy Manager is Dr KrBlina Mihic. who provided seThS on a part-time basis. Dr Mihic's time commitment varies depending on workTr)ws and prioyitres. AddliK)nal. the Associabon of Oplometrtsls Ireland (AOII provides administralNe financial services. based on days per month. The Education Commitlee oversees and sLport the development of the conference programme, advise the Board on optical and oplomefv education and training auoss Ewope. and ensure the A¢>demVs (x)mmitment to promoting and SuppOrtg inibalive5 that enatAe high slandard5 of professional competence across the professn. The Educalon Cornmittee is inslnjmental in delivemg the education and clnical practice section of the Strategic ptan also support the research SedIc ofthe pL3n vta the conferen(t and Fellowship programmes. Members of the Education Committee curate the professw)n development secon oftheAcademy's website. Three members from the Board of Tr$tee9 work vrith the Edtit)n Committe& on largeled ath"vities such as Research Mentoring and CPD aeditation. aTrJ the Board of Trustee5 has set up the following sub-committees.. Finance and Govemance, Partnerships and Strateg. Communications and Research. In the event of the charity being wound up. each member of the Board of Trustees guarantees to o)ntribute a maximum amount of £110 the as5 ofthe ch8nty. As of 31 t)mb&r 2025, the lotsl number ofgu8r8ntees was 9. The Trustees are members of the charity and are entitkd lo voting rights at meetings. However, they th) not have a beneficial interest in the charity and dts not reL*we any ffianal benefft from the charity beyond their right lo vole. Ms R LovelkPatell- EAOO Psident Mr5 L Stankova- Immediate Past PiesKlenl Professor J M Gonzalez- Me4ome- Ve Presijent Dr D Parkins- Hon Treasurer Mrs E Lazuka- NKoulaud Dr D Oehring Professor E Mallen Professor D Nosch Mr M Vogric
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustee5 report was approv8(I by Board of Truslees. s R LovelkPatdl- EAOO President Chair of Trustees Date.. 15th April 2026
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS I report to the Trustees on my examination of the finanaal statements of European A¢ademy of Oplomelry and Optics {the Charity) for the year ended 31 Dernber 225. Respon$ibilities and basis of report As the Trustees of the Charity land also its direclors for the purposes of o)mp3ny lawl. you are responsible for the preparation of the fin8n¢t81 statements In a¢anCe wrth the requirements ofthe Companie5Act 2C#J6. Haing satisfied myself that the financaal statements of the Charity are not required lo be audiled under Part 16 of the Companies Act 2C4J6 and are eligible for independent examination, I report in Spect of my examination of the Charity's finanual slalements ¢arried out under 5ecb.on 145 of the Charities Act 2011. In carrying out rny exarninatK)n I have followed the Directions 9nn by the Charity Commisston under section 14515llbl of the Charilies Act2011. Independent examinerfs ststement I have completed my examination. I confirn that no matters have come to my attention in cx)nnection with the examination givtng me cause lo believe that in arby material re5pect= a¢counlin9 records were not kept In respect of the Charty as required by section 386 of the Companies Act 2006. the financial slalemenls do not acurd vrilh those records.. or the financial statements do not Comp with the accoLtnting requirements of section 396 of the Companies Act 2006 tslher than any requirement that the finanoal stslements give a true and fair e. which is nol a matter considered as part of an independent examination- or the fin3n¢ial Statements have not been prepared in aCts)rdan the methods and Principles ol the ststement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial stslements in 8¢cordan¢e with the Finantyal Repo"ng Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concms and have come across no other mattets in ts)nnedion with Ihe examination to which attention shoukt be drawn in Ihis report in order to enable a proper understanding ofthe finanual stslemenls to be aChed. Helen Furlong FCCA X•lnadin North West Llmltsd 46 Hamilton Square Birkenhead Wirral Merseyside CH41 SAR Date:...l(*.....Li....LL
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS STATEMENT OF FINANCIALACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 UnYestrl¢tèd Unrgstricted funds funds 2025 2024 Not•s In¢omg from: Dtsn81ions and legaues Charitsble adivities Membership SeTh7ces Conference 15.000 15.txjo 50.470 16.393 45,02e 25,070 Total income 81.863 85,098 Expenditure on: Charitable acliwties Membership Serwces Conferen 57.819 57.209 249 Totsl charitable expendilure 57.819 57.458 Total oxpgndltur• 57.819 57.458 Not income and movement in fvnds 24.044 27.64Q Reeonelllation ol fvnd$: Fund balan¢e5 al 1 January 2025 154,144 126.504 Fund balan¢es at 31 December 2025 178.188 154,144 The statement of financral athities inthdes 1 gains and re(yJgntsed in the year. Al iw?me and expendilure derive from continuing actNilies. -10-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS BALANCE SHEET AS AT31 DECEMBER 2025 2025 2024 Currnnt a$$ots Debtors Cash at bank and in harKI 11 (1) 227.724 205.126 227.723 205.126 Creditors: amounts fallng due wlthln one year 12 (26.400) {27,84n Not ¢urr•nt a$so1¥ 201,323 177,279 Creditors: amounts lalling after mom than one ye•r 13 (23,1351 (23.1351 Net assets 178,188 154.144 The funds ofthe ChaTIty Unrestricted fund5 178,188 154,144 178,188 154,144 The company is entitled lo Ihe exernpb.on from the aLMfrt Tequirement contained in sectton 477 of the Companies Act 2006, for the yaar èndad 31 D8cember 2025. The directors acknoadge their responsibdTDes for o)mplng with Ihe requirernents of Ihe Companies Act 2006 with respect lo attaunling records 8nd the prwration of ffinancial statements. The members have not required the o)mpany lo obtain an audit of its finanaal statemenis for th8 year in question in aLr{jance with seclion 476. These fin¥naal statpmenls have been pPared in ardance the proVlOn5 appluble to companies subject to the small cofflpanies regime. The fina 15th Aprd 2026 stateThnts were approved by the Tru5tee5 on ......................... Ms R Lovell¥atell- EAOO PreSIdt Chair of Trustees Company registration number 6844057 (ErwJknd and Kèles) 11
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting polici Charity Infornmtion European Arxlemy of Optometry and OptKS is a piiv company fimiled by guarantee uiojrporated In England Wales. The registered officè is 4142 Craven Street. London. WC2N 5NG. 1.1 8a$i$ of preparatlon The finanlxal slalements have been prep8rwJ in acg)rdan¢e with the Clkqrty's governing th)curnent. the Companies Act 2006, FRS 102 'The Financial Reporting Slan¢Jard applcable in the UK and Republic of ITeland" and Chaiitses SORP 'A¢couMiNJ and Reporting by Charities". Statement of Remmended prackn. applicable to charities preparing their aLwunts in accordance with the Finarrial Reporting Standard applicable in the UK and Repubkn'c of Ireland IFRS 1021-. The Chartty is a Public Benefit Entity as defined by FRS 1Q2. Th8 Charity has tsken a(fvantage of the provisions in the SORP for tharilies not to prepara a statement of cash tlows. The fanal statements a prepared in euros, whic is the functional cajrrency of the Charity. netary amounts in these financAal statements are rounded to the near1 É. Thè ffinancial sfatement5 have been prepared uThJer the historit41 f>)sl wiventJn. The wincip81 accouniing poliaes adopted are set ¢)ut below. 1.2 Going concern At the time of approwng the ffflaNial stalemenls, the Tnjgtees have a reasonat expectaiion that thé Charfty has adaquate resources lo continue in ope1alion StenCe for the foiesgeable future. Thus the Trustees nb.nue lo a(lopl the goin9 COnM basi5 of ar%ountry li pr8parirwJ the finaral statements. 1.3 Charitable funds Unrestricted funds are avaikbte for use al the rfisuetsjn ol the Twstgos in fvrtheran¢* of their tharitable objedives. Restricted fvnds are subject lo speak eondTtions by donors or grantors as to how they may be used. The purposes and uses ol the reslrided fun(Js a set out in the notes to fincial statemenlg. Endowment funds are subject to speafjc cotNlthns by donors Ihat the capital must be maintained by the Charity. 1A kncomo Income is recognised when the Charity i5 legany entrtled to f( after any perfoman¢e conthions have been met. the amounts can be measured rel44biy. and it is probable that iwwme wil be received. Cash donations are recognised on receipt. Other donations are rn[Sed once the Charty has been notrfied of the donation. unlgss perfowmance C¢tionS require deferral of the amount. Ir tax recoverable in relation to donations receNed under Gift ANJ or deets of venant is rec4)gnised at the lime of tho donalton. Legacies are re¢ognised on reIpt or if the Charity has been of an impending distribution, the amount is known. and receipt is expected. If the amount is not known. Iha legacy treated as a contingent asset. 12-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2025 A¢counting policies (Continu) 1.5 Expenditure Expenditu is reDJgnised ortt there is a legal or Constr1e obgat1rt lo transfer economi¢ benefrt to a third party. it is probalAe that a transfer of e¢0Mi¢ beneffts will be required in settlement, and the amount ol the obligation can be measured lIab. Expendiiure is classified by actity. The costs of eath ac11ty are made tjp of the total of d1ct costs and shared costs. in¢ludiNJ support invofved in undèrtaking each activty. Direct costs attributable lo 8 Single activity are allted directty to that %bwty. Shared $ts whrch contribule to rnOTe than one activity and support costs whKh ar& Th)18ttributable lo a singk actiwty are apportioned belween those actiwties on a basis consistent with the use of r&sour. Central staff (x)sts are alloced on the basis of time spent, and deprec4ation tharg0s aro albcated on the portion of the asset's use. 1.6 Cash and eaah Èquivalents Cash and ¢xsh equivalents inchjdo cash in hand, deposits hekl at call with banks. other short-tern IiqLnd investments with original maturities of three mnths or $, and bank overdrafts. Bank overdrafts ar8 shown wilhin borrowings in frerrt lbditi8s. 1.7 Financial tnstruments The Charity has elected lo apply th8 provisions of Se¢bon 11 'Basic Finanaal Instwmenls. and Sedion 12 'Olher Financial Instruments Issues. of FRS 102 to al of ts financial instruments. Finanoal instruments a recognis&J in Ihe Ch5 b818nce sheet en the Charity beMe6 party to the ontsathal proM$ion$ ¢)f the In$twmenL Fin8ncial assets and lialI1eS are offsét. with the nel amounts presented in tho finanual stalemenls, when there is a legalty enforceablp righl Ir) sel off the recognised amounts and there is an intention to settle on a net basi$ or to realse the asset and settle thè liabilty $imuttaneou. Bask Ilnanval assets Basic financiil assets, whKh in(e debtors and cash and bank balarw. are initialty measured al transaction piice IndJing Iransaclion Costs and are subsequenlly carried at amortised cost using the effective intere¥t methx1 Unle Ihe arrangerrEnt constrtutes a fin8nong transactton, where the transaction is measured at the present value ol thg fvlure r%ipls discourrted at a market rate of inteSt. Financial assets dassrfied as receNable within one year are not amortis&J. Baslc finan¢iTalliabilities Basic financial liabiliis. including raeditO and bank kjans are inilialty rerxyjnised at transathn price unl8sS the arrangement constitutes a ffinancgng transadion. where the debt inslrumenl is measured at Ihe presenl value of the future payments dis(x)unted at a martet rale of interesL Financial liabilrties da5sffjied as payable within one year are rK)l amortised. Debt inslnjments 8re subsequenlty carrigj at amorbsed cost, using the elfedNe interest rale method. Trade creditors are obfKJab"ons to pay for gcths or services that have been acquired in Ihe ordinary urse of operalKJns from supplier5. Amounts payable ara daSS[fi as current kbiliiies rf payment 15 due within one year or less. H not. they arg pte¥enle(J as non-currenl liables. Trade credrtor5 are recognised initially al transaclion Pri and subsequenlty measured at amortsed cx)sl using the effeclive interest method. Derecognlllon of financialllabllfties Financial liabilities are deCogntsed when the Charitys o)ntra¢lual obligab.ons expire or a disc*arged or carlled. 13-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 A¢¢ounting policifys (Continu•dl 1.8 Employee benefits The cost of any unused holiday errtiuement is recognised in the period in which tr emFloyee's ser¥w are rec8ived. Temiination benefjls are renised wnmediat as an expense when Ihe Charity is demonstrably committed to teminat8 the employment of an employge or to prowde temiination beneffts. Criucal accounting estimates •rtd Judgements In the appkath.on of the Charity's accounting polirAes. the Trustees are requiied lo make judgernenls, estimates and assumptions about the carying amount of a55ets and liabililies that are not readily apparent from other sources. estimales a5SOCted 8Sswptx1nS are based on hi5toritxI experience and other faciors thai are consideied to be relevanL Aclual resulls fflay differ from these estimates. The estimates and undemying assLThpiThs are reviewed on an org(Mng basis. RewsK)n8 to a¢unting estimates are recognised in the period in whth the estimate is revised where the revisi affec15 onty that period, or in the perKyJ of Il revis¢)n and fuiuTe pericrfls whefe the rewsion affects t*Jlh current and fuluie periods. Incomg from donations and legacies Unrnstrictsd funds 2025 UnrestTiCted funds 2024 Grants and sponsotship 15.000 1S.OCIJ European Counul of Optomety & OptKs Hoya Holdings N.V. 5,000 10.000 5.000 10.000 15.C 15,000 In¢omo from charitsblo activiii Unre5trictsd Unrestrlctod funds funds 2025 2024 Membership Services Income 50.470 45,028 Conferen¢e IncA)m8 16.393 25,070 86,863 70.098 14-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expenditure on charitabk activit MembpTrhip Membership Conference Sorvices 202S Total 2024 2024 2024 Diroct costs Website & MpUterS Consuttancy Travel & accommdali Conference Sundry 6,236 7,545 35,260 4,586 249 233 35,260 4,586 5,375 249 233 46,1n 47,624 249 47.873 Sharn of support and governanc• Gosts (sw nolÈ 61 Govemance 9,585 9,585 57.819 57,209 249 57.458 Analys15 by fvTMI UnrÈsln"cted funds 57.819 57,209 249 57.458 Support costs allocated to actlviti Membershlp Sgrvi¢•$ 2025 Totsl 2024 Goveman¢e 11.646 9.585 Net movement In funds 2025 2024 The net movement in furbjs is stated after thargin[edIknn9)'. Fees payable forthe independent examination oftho iJ)arity5 ffinanoal stalements 2,320 2,142 Travel & acMmOdation expenses were paid dir* by thg European Academy or reimbursed lo the trustèes totalling É2,308. P024 E3.798) Al expense$ were inrted in the course of dUtS as trustees. Nonè of the trustees reiVed a salary 01 any other beneffts from emphjyment with the (tharity in thè year. (2024 0.00) No charity trustees Ter£p1 payrnenl for professional or other seNces supplied lo the charity P024 Éo.00) -15-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS IcoKfiNUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Employees The average rnonlhty number ofempbyees dumg the yeat was: 2025 Number 2024 Number Tolal The tharity has been managed by freelanc4 consuwants rertIng to the trustees. Thère were no 8mployees whose remuneration was more than É60,OJO. 10 Taxation The ch8rty is exempl from t8xatkin t)n its a(Aivits because al its iome is applied for charrtable purposes. 11 D¢btOf4 2025 2024 Amounts fallSng due within one year. Trade debtors 12 Creditors: amounts falling due within one year 202S 2024 Nots$ Oeferrod in¢omo Trade ueditor5 Aeauals 14 23,655 425 2.320 25,605 100 2,142 26,400 27.647 13 Croditors: amounts falling due after more than one year 2025 2024 Loan from The Cdlege of Optometrists 23.135 23,135 16-
EUROPEAN ACADEMY OF OPTOMETRY AND OPTICS NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Def¢rrnd incomo 2025 2024 Other defeired income 23,655 25.605 Deferred income is induded in the financial stslements as f1$. 2025 2024 Deferr8d income is indLKled wilhin: Current liabilities 23.655 25,605 Movements in the year.. Deferred income at 1 January 2025 Relttas8d from prevbjus periods 25.605 (1.950) 20,600 5,t4J5 Deferred Irome at 31 Dember 2025 23.655 25.605 15 Unrnstri¢tsd funds The unrestrtcted funds of the charity comprise the unexpended balances of donalions and grants which are not Subjed to Speufic condtb.ons by donors 8nd gr8nlors 8$10 they may be used. These include designated funds which have been set aside out of unrestricted funds by the truslees for specific purposes. At 1 January 2025 Incoming resources Resources expended At31 Decernber 2025 Genéral funds 154.144 81.863 157.819) 178,188 Prevlous year. At 1 January 2024 Incoming r¢sour¢o9 Resources expended At31 D•cemb•r 2D24 General funds 126.504 85.098 157,458) 154.144 16 Related party tranSalI)n$ The College of Optometrists has prwded an INte$t free ltsan to EAOO. The balaneÉ at the year end is 3,135 (2C124 Q3.135), it is On repayabl8 rf the Acaderny was to be wound up, which is not antiCApated currenty. -17-