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2024-04-05-accounts

NEW SIGHT U.K.

ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 5 April 2024

Charity Number 1144893 Company Number 07781905

NEW SIGHT U.K.

Trustees Annual Report For year ended 5 April 2024

The Trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 5 April 2024.

The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Our purposes and activities

New Sight is an eye care charity working in the Republic of Congo. Our vision is a world where no one is needlessly blind. Four in five people in the world who are blind or visually impaired suffer from preventable or treatable causes of blindness. We are committed to eliminating all reversible and preventable causes of blindness and severe visual impairment. We strive for efficiency and cost-effectiveness, with self-sustainability as our goal, but we believe that sight is priceless.

New Sight has established two non-profit eye clinics and surgical centres in Congo and is currently completing a purpose-built hospital which will reach the surrounding region.

All of our charitable activities take place in the Republic of Congo where we provide eye care, surgical treatment, and preventative care such as screening and education.

Achievements and performance

New Sight U.K. in the UK is responsible for supporting the accounting, finance, record keeping, and the coordination with visitors for the Congo operations.

Together with the global team, we have made the following progress in the year ended 5 April, 2024:

Support from regular donors has helped us produce a budget surplus.

Public benefit statement

The trustees/directors of New Sight U.K. are aware of the guidelines issued by the Charity Commission on public benefit.

Financial review

New Sight U.K. is funded by donations from loyal supporters, the total income for the year was £56,336 (2023: £29,994. This income is allocated to unrestricted funds on the Statement of Financial Activities in accordance with the Statement of Recommended Practice (SORP)

1

NEW SIGHT U.K.

Trustees Annual Report For year ended 5 April 2024

The Statement of Financial Activities for the year ended 5 April 2024, shows a surplus across all funds of £32,007 (2023: 22,578).

The Balance Sheet at 5 April 2024shows total funds carried forward of £105,868 (2023: £73,861) of which there are £nil restricted funds (2023: £nil).

Reserves policy

The reserves policy for New Sight U.K. is to aim to hold sufficient reserves to ensure that at any time of the year the Charity is not required to borrow funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer-term projects. The amount of reserves held at 5 April 2024 was £105,868.

Preparation of the accounts on a going concern basis

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Reference and administrative details

Charity name New Sight U.K. Charity number 1144893 Company number 07781905 Operational address 21A Upper Accommodation Road, Leeds, LS9 8RZ, United Kingdom

The trustees and officers serving during the year and since the year end were as follows:

Trustees Christopher Denham Terence Pang Henri Samoutou Joyce Samoutou-Wong

Structure, governance and management

Governing documents

Memorandum and Articles of Association

Constitution

Company limited by guarantee

Appointment of Trustees

Trustees are either elected or appointed annually at the Annual General Meeting held in November.

2

NEW SIGHT U.K.

Trustees Annual Report For year ended 5 April 2024

Organisation

The Trustees meet at least two times in each year and deal with the administration of the charity encompassing the strategic vision, financial accountability, risk management, and any other administrative business of the charity.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks including the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Principal risk facing the charity

New Sight U.K. has a small donor base in the UK. This is providing the income we need; however, we may need to expand and diversify in the future.

Relationship with any related parties

New Sight Limited, which is a limited company by guarantee registered in Hong Kong, is a related party � two of the trustees of the UK entity are Executive Committee members of the Hong Kong entity. They are also the founders of both entities. However, there is no financial transaction between the two charities.

Statement of Trustee Responsibilities

The charity Trustees are responsible for preparing a Trustees� annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Charity Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.

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NEW SIGHT U.K.

Trustees Annual Report For year ended 5 April 2024

Approved by the Trustees on: 21/01/2025 and signed on their behalf by: Christopher Denham Chair of the Board UY

4

NEW SIGHT U.K.

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 05 April 2024

I report on the financial statements of New Sight U.K. for the year ended 05 April 2024, which are set out on pages 6 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

the accounts have not been prepared in accordance with the Charities SORP (FRS102).

I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jim Dodds FCIE 33 The Glebe Morpeth Northumberland NE61 6HW

Date:

5

NEW SIGHT U.K.

(A company limited by guarantee)

(INCLUDING SUMMARY INCOME & EXPENDITURE ACCOUNT)

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 05 April 2024

==> picture [495 x 309] intentionally omitted <==

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 6 56,336 - 56,336 29,994
Total income 56,336 - 56,336 29,994
Expenditure on:
Charitable activities
Operation of the charity 7 24,329 - 24,329 22,578
Total expenditure 24,329 - 24,329 22,578
Net movement of funds 32,007 - 32,007 7,416
Reconciliation of funds
-
Total funds brought forward 73,861 73,861 66,445
Total funds carried forward 105,868 - 105,868 73,861
Notes
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

The notes on pages 8 to 14 form an integral part of these accounts.

6

Charity Number 1144893 Company Number 7781905

NEW SIGHT U.K.

(A company limited by guarantee)

BALANCE SHEET

As at 05 April 2024

a)
oO
Ks)
Zz		 £ Total
2024
£		 £ Total
2023
£
Current assets
Cash at bank and in hand
15		 106,268 74,011
Total current assets
Creditors:amounts falling due within
one year
16		 106,268
( 400 )		 74,011
( 150 )
Net current assets 105,868 73,861
Total assets less current liabilities 105,868 73,861
Total net assets or liabilities 105,868 73,861
Funds of the charity
Unrestricted income funds
Restricted income funds		 105,868
-		 73,861
-
Total funds 105,868 73,861

The company was entitled to an exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with the respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

The notes on pages 8 to 14 form an integral part of these accounts.

These financial statements were approved by the Board on:

and are signed on its behalf by:

Christopher Chair of the Board

7

NEW SIGHT U.K.

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

1 Accounting Policies

The principle accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts 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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) �Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

New Sight U.K. meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The charity reported total unrestricted funds at the year end of £105,868 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis the charity is a going concern.

3 Income

3.1 Recognition of income

Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliably.

3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.

3.3 Grants and donations

Income from government and other grants, whether �capital�grants or �revenue�grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance or provision of other specified service is deferred until the criteria of income recognition are met.

8

(A company limited by guarantee)

NEW SIGHT U.K.

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

3.4 Donated goods and services

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided that the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with the equivalent amount recognised as an expense under the appropriate heading in the SoFA.

3.5 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

3.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

3.7 Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised in donations and legacies.

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

3.8 Investment gains and losses

This includes any realised or unrealised gains or losses on the sale of investment and any gain or loss resulting from revaluing investments to market value at the end of the year.

3.9 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charities' work or for specific projects being undertaken by the charity.

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

9

NEW SIGHT U.K.

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

4.2 Charitable activities

Expenditure on charitable activities includes the costs of establishing two non-profit eye clinics and surgical centres in Congo and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

4.5 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

4.6 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

5 Assets

5.1 Tangible fixed assets for use by the charity

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Fixtures fittings and equipment

Straight line over four years

10

NEW SIGHT U.K.

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

Analysis of income

6
Donations and legacies
Donations and gifts
Gift Aid		 Unrestricted
Funds
£
55,854
482
56,336		 Restricted
Funds
£
-
-
-		 Total
2024
£
55,854
482
56,336		 Total
2023
£
29,200
794
29,994

Income was £56,336 (2023: £29,994) of which £56,336 was unrestricted or designated (2023: £29,994) and £0 was restricted (2023: £0).

Analysis of expenditure on charitable activities

7 Charitable activities
Direct costs
Support costs
Governance costs
Staff salaries
Travel
Insurance
Medical consumables
Independent examiner's fees for reporting on
the accounts
Promotion
Other consumables
Stationery
Professional fees
Conference expenses		 Unrestricted
Funds
£
15,812
1,679
3,396
737
235
10
194
1,753
113
400
24,329		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
15,812
1,679
3,396
737
235
10
194
1,753
113
400
24,329		 Total
2023
£
13,565
1,681
3,089
2,137
-
-
743
1,113
100
150
22,578

Expenditure on charitable activities was £24,329 (2023: £22,578) of which £24,329 was unrestricted or designated (2023: £22,578) and £0 was restricted (2023: £0).

8 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts 2024
£
400
400		 2023
£
150
150

There were no other fees paid to the examiner (2023: £nil)

11

NEW SIGHT U.K.

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

9 Analysis of staff costs, and the cost of key management personnel

Salaries and wages
Social security costs
Pension costs (defined contribution pension plan)		 2024
£
15,685
-
127
15,812		 2023
£
13,490
-
75
13,565

No employee received remuneration above £60,000 (2023: nil).

The key management personnel of the charity, comprise the trustees . The total employee benefits of the key management personnel of the charity were £0 (0: £0).

10 Staff Numbers

The average monthly head count was 2 staff (2023: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

The parts of the charity in which the employee's work:
Charitable activities FTE		 2024
Number
1.0
1.0		 2023
Number
1.0
1.0

11 Transactions with trustees

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses

The following detail the expenses incurred by two trustees.

Accommodation
Travel		 2024
£
-
-
-		 2023
£
981
508
1,489

Transaction(s) with related parties

The following detail the related party transactions in the reporting period.

New Sight in the Republic of Congo receives funding and support internationally including from the USA, Canada, UK and Hong Kong. The accounts from New Sight U.K. only reflect the financial activity incurred within the U.K. and do not account for the accounts and activities from other countries.

12

(A company limited by guarantee)

NEW SIGHT U.K.

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

12 Defined contribution pension scheme

The charity operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £127 (2023: £75). There was £0 outstanding as at 05 April 2024 (2023: £0).

13 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

14 Tangible fixed assets
Cost
Balance brought forward
Additions
Disposals
Balance carried forward
Depreciation
Basis
Rate
Balance brought forward
Depreciation charge for year
Disposals
Balance carried forward
Net book value
Brought forward
Carried forward
15
Cash at bank
16
Cash at bank and in hand
Accruals
Independent examination of accounts
Creditors and accruals (payable within 1 year)		 Fixture,
fittings and
equipment
£
19,368
-
-
19,368
SL
25%
19,368
-
-
19,368
-
-
2024
£
106,268
106,268
2024
£
400
400		 2023
£
74,011
74,011
2023
£
150
150		 Total
£
19,368
-
-
19,368
19,368
-
-
19,368
-
-

13

(A company limited by guarantee)

NEW SIGHT U.K.

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 05 April 2024

17 Events after the end of the reporting period

No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

18 Analysis of charitable funds

Analysis of movements in unrestricted funds

Unrestricted funds
General unrestricted fund
Totals		 Fund
balances
brought
forward
£
73,861
73,861		 Incoming
resources
£
56,336
56,336		 Resources
expended
£
( 24,329 )
( 24,329 )		 Transfers
£
-
-		 Fund
balances
carried
forward
£
105,868
105,868

Purpose of unrestricted funds

General unrestricted fund

The 'free reserves' after allowing for designated funds.

19 Capital commitments

As at 05 April 2024, the charity had no capital commitments (2023 -£nil).

20 Analysis of net assets between funds 2024

Cash at bank and in hand
Other net current assets/(liabilities)
Other net current assets/(liabilities)
nalysis of net assets between funds 2023
Cash at bank and in hand		 Unrestricted
Funds
£
106,268
( 400 )
105,868
Unrestricted
Funds
£
74,011
( 150 )
73,861		 Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
-		 Total
2024
£
106,268
( 400 )
105,868
Total
2024
£
74,011
( 150 )
73,861

Analysis of net assets between funds 2023

14