GOLLYER BRISTOW
The Clear Foundation
Trustees, Report & Financial Statements
1 April 2021 to 31 March 2022
Charity No. 1141981
55661.1

THE CLEAR FOUNDATION
TRUSTEES, REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
Page
Reference and administrative details of the Foundation,
ils Truslees and advisers
Trustees. Report
Independent Examiner's report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-12

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION
ITS TRUSTEES AND ADVISERS
The Board of Trustees
Mr Linus Wright
Mrs Elaine Wright
Mr Vladimijr Attard
Charity rggistergd numbor
1141981
Principal Office
clo Collyer Bristow LLP
Sl Martin's Court
10 Paternoster Row
London
EC4M 7EJ
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME194JQ
Solicitors
Collyer Brislow LLP
Sl Martin's Court
10 Paternoster Row
London
EC4M 7EJ
Independent Examine
Bourner Bullock Chartered Accountants
114 Sl Martin's Lane
Covent Garden
London
WC2N 48E

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
TRUSTEES, REPORT
The Trustees present their annual report together with the financial ststements of The Clear Foundation
(the Foundation) for the year ended 31 March 2022. The Trustees confirm that the report and financial
slalemenls of the Foundation comply with the Charities Act 2011, the requirements of the Foundation's
governing document and the provisions of the Statement of Recommended Practice ISORPI applicable
to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland on 1 January 2019. The financial statements have been prepared in
accordance with the accounting policies sel out in the notes lo the financial ststements.
ststus and admini$tration
The Foundation was established by a Deed of Trust dated 18 March 2011 and is registered
with the Charity Commission under charity number 1141981. The Foundation's governing
instrument Is its Trust Deed which allows for any actThiilies covered by the Foundation's
objectives, with no specific restrictions.
Charitable objg¢ts
The object of the Foundation is to provide funds for general charitable purposes which will
include bul is not limited lo supporting other charitsble trusts or other organisations.
Governance
The management of the Foundation is the responsibility of the Trustees who are appointed
under the terms of the Trust Deed. The Trustees meet regularly lo discuss and implement
policy.
Financial review
Total income has increased overall as a result of the increase of dividends received from the
CAF UK Equilrack Fund Distribution units. The interest from CAF Gold a￿OUnt has decreased.
As al 31 March 2022, the marf(et value of the CAF UK Equilrack Fund Distribution units was
£1,531,21212021 £1,399,027), an increase of £132,185.
Revlew of actlvltles and a¢hlovemonts for the publ1¢ beneflt
There were no grants as a lol of the projects and inilialives did not go ahead due lo the COVID
pandemic. The trustees of the Foundation continue their discussions with a chain of schools
and organisations. They are also boking at other grants. mainly with education as a theme to
improve educational opportunities for young people, regardless of their background, using
research as much as possible to help social mobility for all.
The Trustees confirm that they have complied with their duty under section 17151 of the
Charities Act 201110 have regard to the Charity Commission's guidance on public benefit and
that the public benefit requirement has informed the activities of the Foundation in the period to
31 March 2022.

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
Investment pollcy
Objectives
To maintain and grow the value of the fund over the medium to long term via income and
capital gains, in order lo fulfil the long-lerm charitable giving policy.
2. To make best endeavours to protect the real value of the fund against inflation.
3. To be in a position lo make cash donations from the fund al short notice.
4. To be able lo invest in property with the Intention of leasing to charities consistent wf(h
the Foundation's charitable giving policy.
Attitude lo Risk
The Trustees are comfortable with a moderate level of capital risk for the Foundation,
assets.
2. Leverage will not be employed and as such the Trustees will not borrow money to invest.
3. Any financial market assets should be based on highly rated stock indices.
4. No single company investments or private equity style investmen15 will be made.
Distribution of Investments and liquidity needs
1. In order lo be in a position lo make don8tions at short nolice1-1 monthl a portion of the
funds should be kept in cash on <1 month noti￿. This amount should be around 1 OOA of
assets.
2. The remainder of the money should be invested in longer term cash deposits and UK
equities. which can be converted lo cash at <6monlhs notice.
3. If the Foundation invests in property, consistent with Objective 4, this asset can form a
substitute for UK equities and long-lemi cash.
4. Keeping investments domestically IUKI based will allow the Foundation lo best provide
funds lo UK based Charities in the long term.
Type of Investments
1. Other than property lof which there are no immediate plans), all investments will be made
in products offered by CAF Bank.
2. The products include long-term cash deposits and FTSE Index tracking funds which have
minimal management fees attached.
Investment Decisions
Investment decision making has been delegated to Linus Wright, who has the requisite
investment expertise lo carry out this function on behaw of the Trustees, with additional
advice from the other Trustees where necessary.
Management of Investments
No external investment manager will be appointed.
2. The performance of the investments provided by CAF Bank will be checked against their
target performance. If there is material discrepancy, then the Trustees will seek another

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
provider of similar investment products.
Resery•s and fundlng
See f. above under liquidity needs.
Appointment and induction of Trustees
Appropriately qualified people are selected according lo requirements al the time of
appointment. As part of the induction programme, the Trustees are provided with a copy of the
Trust Deed and a copy of the accounts. The aims and goals of the Foundation are explained to
newly appointed Trustees by the Founder.
Risk management
The Trustees are responsible for the management of the risks faced by the Foundation and are
reviewing the major risks lo which the Foundation is exposed with a view lo establishing
Systems lo mitigate these risks.

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
Statement of Trustees, responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in
accordance with applic8ble law and regulations.
The law 8pplicable lo charities in England & Wales requires the trustees lo prepare financial sl8temenls
for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards and applicable lawl. The Iruslees must not approve the
financial statements unless they are satisfied that they give a true and fair view of the state of affairs of
the Charity and of the incoming resoU￿e$ and application of reSOu￿e$. including the income and
expenditure, of the charity for that peri¢xl.
In preparing these financial statements, the Iruslees are required lo.
select Suitab￿ accounting policies and 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 Stsndards have been followed, subject lo any material
departures disclosed and èxplained in the fin8nci81 statements.
prepare the financial slalemenls on the going concern basis unless r( is inappropriate to presume
that the charity will continue lo opèrate.
The Iruslees are responsible for keeping sufficient accounting records that disclose with reasonable
accLJracy at any time the financial position of the charity and enable them to ensure that the financial
slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008
and the provisions of the trust deed. They are also responsible for safeguarding the assets of the
charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Signed on behalf of the Trustees by..
L Wright
25 Jan 2023
Mr Llnus Wright
Date

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
1 APRIL 2021 TO 31 MARCH 2022
Independent Examlnerfs Report to the Trustees of The Clear Foundatlon
I report to the trustees on my examination of the financial statements of The Cle8r Foundation
I'lhe charity'l for the year ended 31 March 2022 which comprise the Statement of Financial
Aclivilies, the Balance Sheet and related notes.
This report Is made solely to the charity's trustees, as a body, in accordan￿ with section 145 of
the Charities Act 2011. My work has been undertaken so that I might stste lo the charity's
trustees those matters l am required to slate to them in this report and for no other purpose. To
the fullest extent permitted by law. I do not accept or assume responsibility lo anyone other than
the charity 8nd the charity's Iruslèes as a body, for my wotk, for this report, or for the opinions I
have formed.
Responsibilitigs and basi$ of report
As the trustees of the charity you are responsible for the preparation of the financial slalemenls in
accordance with the requirements of the Charities Act 2011 I'lhe Acl'l.
I report in respect of my examination of the charity's financial ststements 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 14515llbl of the Act.
An independent examination does not involve gathering all the evidence that would be required in
an audit and conseqLJently does not Cover all the matters that an auditor considers in giving their
opinion on the financial stslements. The planning and conduct of an audit goes bèyond the
limited assurance that an independent examination can provide. Consequently l express no
opinion as lo whether the financial slalemenls present a 'lrue and fair, view and my report is
limited lo those specific mallers set out in the independent examiner's slalemenl.
Independent examinerfs statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause lo believe that in any material respect".
> accounting records were not kept in respect of the charity as required by section 130 of
the Act., or
the financial ststements do not accord with those records,. or
> the financial slalemenls do not comply wrfth the applicable requirements concerning the
fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'lrue and fair view which is not
a matter considered as part of an independent examination.

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
I APRIL 2021 TO 31 MARCH 2022
I have no concerns and have come across no other matters in connection with the examination lo
which attention should be drawn in this rey)rt in order lo enable a proper understanding of the
financial slalemenls
be reached.
Davld Matkins FC
Bourner Bullock
Chartered Accounlanls
114 Sl Martin's Lane
Covenl Garden
London
WC2N 4BE
Dale

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL ACTIVITIES
1 APRIL 2021 TO 31 MARCH 2022
Total
Unrestrietod
funds 2022
Total
Unrestriet•d
funds 2021
Note5
INCOME FROM
Investments
44,255
36,286
Total
44,255
36,286
EXPENDITURE ON..
Raising funds
Charitable activities
3,997
3,970
Total
3,997
3,970
Gains and losses on Investment assets
132,185
273,746
Net Movement in funds for the year
172,443
306,062
Reconciliation
Total funds brought forward
1,588,172
1,282, 110
Fund balances at 31 March 2022
1,780,815
1,588, 172

THE CLEAR FOUNDATION
TRUSTEES. REPORT & FINANCIAL STATEMENTS
BALANCE SHEET AS AT 31 MARCH 2022
Notas
2021
2020
Fixed Assets
Investments - market value
10
1,531,212
1,399,027
Current assets
Cash al bank and in hand
231,083
192,445
231,083
192,445
Current liabilities
Creditors". amounts falling due within one year
11,6801
f3,300J
Net current assets
229,403
189, 145
Totsl a8sets less current liabilities
1,760,615
1,588,172
CHARITY FUNDS
Unrestricted funds
1,760,615
1,588, 172
TOTAL FUNDS
1,760,615
1.588,172
For and on behalf of The Clear Foundation
L Wright
Date..
25 Jan 2023
Mr Linus Wright
Trustee

THE CLEAR FOUNDATION
TRUSTEES, REPORT & FINANCIAL STATEMENTS
I APRIL 2021 TO 31 MARCH 2022
NOTES TO THE ACCOUNTS
1. Accountlng pollclos
1.1 Bas18 of pmparatlon
Thefinan¢i81 $tslemen$ have been prep¥Ed In ¥¢¢ord¥n¢e wilh'Attwnbng and Reporting by Charities Ststementol
Re¢ommended Pr¥di¢e $ppli¢able to ¢haritie$ prep¥nng theira¢¢ounw in a¢¢ord8n¢ev47lh the Finan¢ial Reporting
Stanaard $ppli¢aWe In UK and Republi¢ol Iplartd IFRS 1021 ISe¢ond Edition), 8nd the Fin8n¢i$l Repothng
Standard 8ppli¢aWe In Uniied Kingdom and Republi¢ol l¢land IFRS 1021 and the Charitie$ Art2011 and UK
GenerallyA¢¢epted Pr8¢ti¢e as It8pplies from 1 J8nu8ry2019
Thefinanci81 st£tements have ￿￿en P￿pa￿d to give a'true 2nd fair, vle4V and havedep2rted Irom the Charllles
(Accounts and RepDrtsl Regul2lions 2008 only to the e￿nI required ID provide S'lruè and faifvie4V' This departure has
Involved followin9'Accounbng 2nd Repo￿n9 by Ch8nbes' Stslemeniol Recommended Ptscbce appllcable ID charibes
prepsnng their accounts In accordancewth the Flnaneial Reporting Stsnd2rd ap￿￿ble In the UK2nd RepU￿1t or
Irdand IFRS 1021 Isecond Ea￿￿n1'r£Iherlhafft theAccounling and Repo￿fftg by Ch8nlieS. Slalemenl Df Recrmmended
Pr2dlce effedlve from 1 Aprll 2005 ¥thlch has sin￿ been vAthdr£vén
1.2 Incomlng resources
Donations, legacies and otherforms ofvolunlary Incorneare recwnised as Incoming reScwJr￿sWheTr [￿valle. except
IDsofar as iheyare InCapa￿e of financial measurement.
InV*$b￿8Tht in¢om¥ is wnised wh¢n wvawe. *H¢ept ins¢lara$ it 1$ in¢ap¥tyitoltin¥n¢i81 m&a$urw*nt
1.3 Règourc4s èxp•nd8d
All eMpenOilure Is accounted toron an a￿[YalS basis has been Included underempense calegoneslh81 aggregate
all costs forallocalion to acbvrtEs. Wherp CDsls be directlyaitribthed lo particularactivilies they have been
al￿￿ted on a basis wnsistenlwikn the use of the resour¢es.
Costs of generating funds
Thiscomprises expendthre In{￿￿￿e￿ In connection Mryih generating funds lorlhe Foundation.
Thi$¢omw$*s expendi￿re inwtr8d in ¢onne¢bon V•ith the tharitsb￿¢bi￿¢tiV￿$ olth¥ Found8tith.
lill GDvemance costs
Thi$¢tymw$e$ expendi￿re inwtr8d in ¢onne¢bon V•ith m8n8gemenl and admini$tsring olthtr Founthlion
1A Dlrect TaX•￿an
As a Chatty the Found*v)n Is generally exernplfrom Inwm&lax capital gain¥ tsx, bul nolfrom VAT. ItrecDverable
VAT is in￿u￿8d in the cost of those to whith It rdales.
1.5 InvestmEnts
Inveslmenlsare held al market value insolaras they are capakle of MeaSUre￿bEnI. The realised and unrealised gains
orlosses are shown In the Stalernentol Financ￿1 Adivilies.
1.6 Fund Kcovnting
Unrestricted Income fundsare geneial funds Ihalare availatAe foruse atlhe Tiustees. disuetson In furtherantt olthe
obieelives olthe Fountslion.
1.7 C8$h
Cash al bank and in hand Is h￿d to ffleet short-teTTn cash cotnfflilmenls astheyfall dup ralherlhan forinveslmenl
purwses.
10

THE CLEAR FOUNDATION
TRUSTEES, REPORT & FINANCIAL STATEMENTS
I APRIL 2021 TO 31 MARCH 2022
NOTES TO THE ACCOUNTS
1.0 Debtors
Debtors lindL￿l￿g loans receIva￿e) are M￿sUred on initial recognition al settlement amount. Tlw are shown In the
financial statements allherash orolher Gonsideralion weLted lo be re￿ived.
1.9 Golng Contém
The£ccounls have been prepared on a going concem basisand lherea￿ no material uncertainties.
1.1fy Dov•lopmtynt$ in thty yoar
On 30 J?nu3ry2020 the WoTld Health Org¥nisalion dedared the ou￿re8k of Ihe Coron¥vitus ICovid-191 pandetnic to
be a public heatth emergencyol Intem8tion81 concern. Durjng the yearlhe pandemic did not have? significant neg3live
irnpadon the tharity's op8r*ng adivities. wrth the tharity being awe to opprate as normal. The Ttustees have b8en
reviewng, and wnlinue to review, the itnpadolthp pandetnicon the operatw¥ ollh8chatity on ¥ regU￿rba&1s
have taken me?sures to ensure the r15ksfaced are tnibgaled.
1.11 Credltors
Thp Foundation hascreditorswhicb are measur& al setuemenl amounts.
1.12 Flnanelal Instruments
The Foundation accounts forthe basic finanual InslrumeTrls on initial recognition as w papagraph 10.7 FRS 102
SORP. Subsequent measurefflent Is peT paragraphs 11.17 10 11.19 FRS 102 SORP.
1.13 Jvdgom•nts
The pre￿ration of ihe financial slalements rwuires management lo makeiudgememls. eslimales and assumptions ihat
affed the amounts reported for assets and liabilities as allhe balan￿ sheet dale and ihe amounts reported for
revenues and expenses during Iheyear. However the natureof estimation ffleansthal actual outcomes could differ
from Ihoseeslimales. In the Trustees, opinion Ihere are no signifirAntiudgemenls and no key SoUr￿S ol eslimalion
uncertainty.
2. Invostment Income
2022
2021
Dividend income
Interest reCeiVa￿e
44.237
18
36.236
str
44.255
36.286
3. Governance C05tS
Unrestricted
funds
2022
Unrestricted
2021
Legal and pmfessional fees
Independent exatninerts fees
Bank chafges
2.4(N)
1.500
97
2.40Q
1.500
7D
3.997
3.970
Grants pald
2022
2021
No grants were paid

THE CLEAR FOUNDATION
TRUSTEES, REPORT & FINANCIAL STATEMENTS
I APRIL 2021 TO 31 MARCH 2022
NOTES TO THE ACCOUNTS
5 Tru8t808
No remunerBtion was P8KI lo the Ttuslees and no expenses Incurred by the Trustees nave been reimburse(l i
the cutrent year12021 nill.
6 Employ888
The Foundation has no employees. In the current year or previous year.
7 Creditor5'. amounts falling due within one year
2022
2021
Independent exarninerfs fee5
Account credile(l in error
1.380
3￿)
Joo
1.880
3.300
8 Staternent and Summary of fund5
Balanco
brought
forward
Incoming
resources
Resourcés
Expended
Other gains and Balanto carried
105ses
forward
Unrostrlcted fvnds
General FuThls
1,588.172
44,255
13,9971
132,185
1,760,615
9 Related Partl8s
No related party transactions have occurred during the year or previou5 yearwhich require di5dosure.
10 Inve$tment6
Ll8t8d Investments
M8rkel Valuè brought forward
Addldedu¢t'. gainlOo8sI on revaluation
1,399.027
132.185
MaTkel Value carrie(I fotward
1.531.212
12