REGISTERED COMPANY NUMBETL. 10787608 (Engl Wal) REGISTERED CHARrrY r4UMBER: 01180244 rt of tt Truslees Consolidatrd Financial Ststthmen r thc PerirAI E for Clearl Initiativts 30 em 2020 PA4QF14UN' 1W0512021 COMPANIES HOUSE
Clearl Initi iv tents of the Fi for thE Peri EThled 30 tments temkn 202 Rewrt of the Tnwce5 I to5 Truste¢5 RwFrf)nsÉbility Strt¢Tl Rfp)rt of th¢ Awlilors 7t08 Cwsolidated of FitMncl Activiiies Consolidated BalarKc Shcct io CotLwlid8ted C&shtlow &#ement Charity Balancc Shttt 12 Notrs to the FiTwKial &atcmcnts 13th18 Dctailal Statement of FinarKl Activiti 19to20
Clearl Initiativ rtof th Tr for the Peri(xt Ended 30 S lunt 2020 The twsttts who ar¢ dirt£&xs ofthe tharity for the PLUP)Sts C4)mp8thi¢s AQ 2fK)6, w¢s¢nt their report with the financial swements of the charity for the wtod ended 30 Serrtemtr 2020. The financi staments cornply wilh the Charities Ath 2011, the C(Mnpnies Act 2(. the Mcmorarmlwn and Arbd¢5 of As%Kiation and A¢countingand RqM)rtingby Charities.. Stsmeni of Recommended ptIcE8ppI1Cab1e to charities preparingtheiT accounis in ¥rA)rdante with thE FinanGial Rcwrting SthJaTd aFVticablc in thc UK and licpublic of Ireland IFRS1021 (effective l January 2019). REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Thwmber 10787608 IEngJand and Walc5) Rtgistered Chrity ttuffiber 01180244 Reiistered offKe C18tle House, Castle Street Guildford Surrey GUI 3UW Trnstees Yue Jia Jamc5 Chen Nicholas Andr¢w M¢r¢eT . Chairman Paul Anthony Torrtasi Senior Ststutory Awdit•r Anne Harraghy Auditor5 PK Audii LLP CharteTed Ar¢owlts Sthtutory AdIr I PaTkslK)I Richmond Surrey TW9 2RD Sol•titors Bales Wells BraithwaiK 10 Queen Strtet PIXE Lonthn. EC4R I BE Advi5er5 B8nker$-NWe6t Bank PLC. 151 High Strt¢ GuIldfor GUI 3AH Ac¢oulltants- Chadsath Limid, C*stk House, StrE¢L Guildford, SLwrey, GUI 3UW
Ckarl Jnitiatives rtof the Truste for the Peri Ended ntin O S temtrKr 2020 STRUCTURE GOVERNANCE AJ¥D MANAGEMEKr Governing do¢umeDt The Organisation is acharithble comrAny limid gu¥ant inCorrd on 24th May 2017 and regisred &s a ¢h8rity on 8th Octhr 2018.Th¢rornpany was¢thlish¢d w¥JeraM¢tnorandum of A5soGialion which estsbli5he4 the objffts ond p)wers of the charithble c4)mpany and is govemed urxler its Articles of Association. Jn the eveni of th¢ tompany being wound up members are rwuired to contribute am arnot t cxcceding £1 each. The charity eon#iiutC5 8 limited tompany a5 dcfln by thc Companies Ad 2(. Recrnilment •ppoin¢ment of Dev4 ¢rwst The diTectors of the company are al ihe charity rntstees forthe wrrrfTrscsofcharity law. Asdefirked by the charitys Anicles of Association. direciors are app)intcd by an Ol[lary Twlutsov. When rul11n8 new diTecw thc charity sttks thc bc5t F4)55ible wwjidate 5Vited to tk position with the right lev¢ls of exp¢ri¢n¢¢ ond krnwlal8e. Indwction aDd tr•iDiHf of trwstee5 The trrfjard monitors and discu55e5 the appropriane55 of the 5killsetof wu5tee5 to th¢ opeI0n&0f the charity and $eck5 lo app)ini Trustecs with the Tel¢vant skills if apprOat¢ Ttt$ ore fiLlly brieftd on th¢ opeTOtions and objtctivts of the charity by trM)th thc the operntional icam al IncorFKITated tx)ndon d. All Trustees are also provid¢d with, and asked for firmatIon that they hav¢ 1¢yant guiilatv frDm Th¢ Chartty Commission and to sign aj rcwrn a-fii and roptr person- declarion. Or¢ani8adon#l strutt•re The rharity has no e¥nployees aTMI w the 01021 attivitits th]rin8 the reKM)rtin8 period were unde]tsken by InCorrated London. 8 3rd party contraciorwith the finwKe h1nlOr& cawried out by Chadsan Limited. Itkn)ryA)rated London wa5. uniil 31 Dec£mber 2020 provide gJpp)rt and thlivcr lh¢ markaing and 1mnmica¢i0DS for the rharsty ilUdingStrOl¢8iC d¢v¢loFncn( di8Ltsi, and CRM. Aft¢r this d#t¢ tk chority cel direc( involvemeni in carnpaign xtivirifs amd so all Ope1$ gmd 1vIty we ry)w coordinared directly by the TnLStets atMI tomparty se¢rethry in liaison with the chariiy's aceountsnts ChadS8n Limiied and reprcsenwives from L¢wy Advisors Lbmit¢¢l a Hong Kong based wmpany of whith Mr. Chen i5 a direaoT. The charity'5 wholly owrKd sthidiary Ckarly Iniii&ivc5 Tr¥thn8 Limited was c51ablished Io generate rMmeIal $ponsorship iE)comt. Th¢ ¢h8rity tNstees have C4)mplied with the duty in Section 17{5) of the 201 I Chariiits kn to have due rewd to guidanct publislKd by Charity Commi (i.c. public bcnefit stalancnt R15k m•n•gement The tnet$ have a duty to idtntify and rtview the risks to which the tharity is txpstd to ensurt appropriate controls are in place to provi(k rwonable 8SSWdrtc¢ against fraud and error. A risk re8i5ter 15 rnaintsined ar T¢gularly VIEwed / UFKlat¢d by IncorTated LA)ni&)n. This rtgister is rtport¢d to the Ttustets via regular owlon I¢rts. OBJECTIVES AND ACTJVITILS Objectives ¥im5 The objexLi¥esof thc charity. a5 Sctout in its Artick5 of A$SlatIon. are to, in th¢ interests of thE public Ther11.. Promote the health of publi< in¢luding (bul TMX limit to) by UTMkrtthng arnl fvThlin8 rese8rch into the naturt. causes. diagnosis prcvcntion. treaeTrI and c of all forrn5 of visual iml¢nI and the treatment of and w¢ for visually impjird pa)pl¢ Advan(% the aLatrOn of the public thtou8h fvTrdl uThlertaking research into the Ith. onoMic. swial and othe* impacts of visual ImtwrnienL
Clearl Initiatives in for the Peri( Endtd 30 S t sigttifnt#ttI¥iti¢g c1¢1y,$ obiertives temain the same: to Urgenily ga a pair of greon the m5eof everyone who needs them by: campaigning edu the PLthli¢ a world le•Jers by raising the profile of the issue. commissioning and furKlin8 rearCh into the health. eo)nomiE xKial aThJ other impacts of visual impwrrncThl- championing innov&ion and spreadtn8beA rrfactice th helpsmake swhiwand cheapRl&vs available to all in differeni se¢TS and in d¢fftr¢ni CO¢T14 and coiJnectirt8 pwpl¢ wtntnittrd to k[Ing this issut we can a]1 bea catslyst foi ¢haTLg ACHIEVEMENT AND PERFORMANCE ritsbk ttivities Baween April 2019 and 2020 Clearly dclivrttd thcobiecti¥es 8t¥¢ thro following txcctsiion5'. In May 2019 The Ckarly Team tyavellrJJ to Geneva fortsK Commonwtalth Health Ministers meuing to ]k to Tninisters and delegates olK)ut our eampaign and (Jdity Eye Care for All. We reteived supp)rt from key figures within the Commonwea]th. &$ well Is Patricia Scoiland ISccTCtary-Gcneral of the Commonwealth Se£retsriai) and Dr Tethos Adhanom Gheixeyesus IDite¢(ot-Genetal of the WHO). During the 2019 High-Levcl Political Pon] at the United Natth4 cIlY a>-hostrAI an eveTht with the UN Friends of Vision gTOUP-'Emp)wvift8 people and ensuring inclusiverK5saThd equality: vision as an SDG 8cG¢l¢ratOT'. This ffl¢¢ting was att¢ndql by a nwnb¢r of UN ambassa4knrs, H.E. Mr Koro Bessho (Pennaneni lie[)rive of Japan the UN) who hoste41 the event & the Japan &>thety. On the 8th 2019. thc WHO World Rgrt On Vis¢on was rclca5ed. Thc re corKludcd that at l¢&%t 2.2 billitsn pwpl¢ worldwide $truggle with tK)or vi$ion.Thi$ SUprted what lothA been Clearly'$ argument and provided the tewn with a5tror4 ¥OcY t(4)l Tmving fwwd. In Novcmbcr 20T9. the Clearly ttarn travelled awn thc United N&ions for another cvcnt of th¢ UN Friends of Vision, to mark t1¢ rtlease of the W¢)rld Rert ort Vision. Alongside other members of the LfN FTiend50f Vision group, CltsJly arranwialarge eXhibin in thE ¢ntraJ)ccofth¢ UN which inclvded Sight tests for UN Amb$$ and UN Staff. From Wtetnber 2019 ortwards. the Ckatly am worked on the G1&85es it) Cl&sses campai8n deSie4y to tsrgetCommonwe41th leadcrs & the commonw[th He4d5 ofGovemm¢nt mrtting in Rwary]a in May 2020. Members of the Cleady 4m went our Rwanda 8nd sp)ke with the CHOGM organising committee, vi5it¢d the Kigali Ctsnvcntion Qrrtr¢ (where CHOGM dueto thke plo¢e), and alg) visittyj the Rwanda Cricket Sudium. which was duc 10 bc aM>ther }[181 weftue for our sidc-cveni. After our visit to Kigaji, we informed w¢ had red the 5id¢ cv¢ntand plannirkg W3sgoin8 fvll st¢arn ah¢ad to enstsre the best SSIble results from Glwts in clSeS campai8n. Thi5 iniiiaily enWmrStd.. 'Unreadable B(xbk'. asChIs. engagtmuLtc4Mpai. an influencer engagement carnpaign amd relea55Dg an artimaLioTh atA)uL ts ¢amPi. On the27thF¢bnJ¥y 2020, w¢ helda'vision f(v dKcomMor¢th. St James's PJla¢¢, artwded by tAPB patro The Countes5 of We&%cx. Here we launched our Gl&sse5 in Cla55¢5 campaign with an anIMlOn that we launch¢d on social rnvjia the Same day. Th¢ event was well attended by civil society nd kty figurts in the si8ht sector. n COVID-19 hitthe WOTI¢ the Clely t¢N qui¢kty ow G18>W irt C18sses w))kwgn to fil tht cuntnt clima*. This involved turntngour Schr15 enBagem¢ni pxk ifflo a home school engagement pack. whereby we proffloia th¢ packonlinr tljrough parent forums and orb social tnedia tooffer a and ertga8ing ¥tivity lor children to partake in whilst oui of school during thc pandernic
- contin for th¢ Period Ended 30 S twnber 2 What wa% originally the 'UrLTeadable Book. bccamc 'Through the Ixw)king Glasse$- Stories About S¢¢in8 Cltarly. as wc got Nicolette Jones (Children'$ Editor at The Sunday Times} onlxth as editor of the collcrtion. Wilh OUT combined rtwol we rnanag lo pull kng¢th¢r an impr¢55jv¢ rostcr of child autlK>rs and illustTaior5 including: QutIn Blo Ruskin B¢rf Crtssida Cowell, Laurtn Childs, KherIne Rundell. Niyi Osundare. Axel Scheffler and Michael MoTpurgo. We Tel the FM)ok onli for World Sight Day 2020. whilst also sling a global Bedtim¢ SrieS. WIre we famous faees reading some of our favourite pieLts from the colle¢tion. This inclLwJcd.. Billie Jean Kin& Adam Hill Mi¢helle Yeoh. David Chan& H.ELH. Pn"rKtss AliaAI HUssel Bany HumF41ric5,Jo Frost(SupeThwLny). John olir Clark Greg& In the week of World Si8bt Day. we also 1¢5 ow iEy¢ fiITn. This st¢n Fry ptrforniinB a parody of an Appl¢ prt>duct launch film. whertin thc produci Teleased wa5 glasse5. or iEy¢. This film wcll acmss OUT social media and wa5 5haftd by s¢v¢rnl ¢¢kbrities with & 18[8¢ followin8: Eddi¢ Iztsrd, Russell Brknd. Johrt Bishop and Sw?hen himself. In ih¢ latter part of 2020, thE Ckarly teaTn workal tt> ensuTe a srnth)th transfer of intellectu prop relatin8 to the campaign acÉi¥iues of the tharity inw the IAPB. Thi5 involved wtsrktng with the team at IAPB ond CT¢atiDg a C¢lebrting Cl¢arfy piec¢ th& will bIla shortly. FINANCIAL REVIEW Rtservtt polity Regular rtvi¢w$ of Jesetrv&% are urtdertak kn ensure thue are alway5 5ufficieM furwJ5 to meet PT&senl ar fwjre obliBation& A detailed budgei for the nut fiftern months of (ry>EratlQlJ5 kn betn prtwtd and approved by tht knard. This budg¢i in¢lud¢s sip)ificant contingencies ynst firwKial uncertaintitsand 5tiprxirtof its fjJrKling has bcen by Mr. Jame5 CTh¢n. Principal funding sourc Thc principal fvnding source 15 from thJnatioDs wovidcd by Mr. Jamc5 CIKD WI i5 a150 aTn]st¢¢ of thr rhjrity. Invtttrnent policy Ad objtttive5 The chariry has no plans or p)li¢ies ffgarding ithVesents a9 r¢s¢r¥&8 held in a bank accot so that fund8 we readily available FUTURE DEVELOPMEPfftS During the peri¢yJ OrthEer 2020- seemIr202I Clearty will sUp[rt thE Work of The International Agerw for Tht Prevention of Blindness OAPB) as well a5 fvTthcTing TtscaTth into t¢ncfits of ey¢ ¢aT4 sharing thtse rjndings with world Iraders and inttmationai trAidics. S•pportiDg the IAPB Supponingthc IAPBtotrfJost th¢ternal romrnunicatiDn5oftheorwision. Toth>this, wt artulilising three mwn tnedia mtynents.. The Vision Ai1&8 launth, the HIEh-Ix¥el Polilic41 Forum in July and World Sight Day in October. The Vision will 18wiched on the 24th F¢bruary in ¢onjutt¢tiort with the rele of the Lancci Glo Health commi10 on Globa] Eye Health * tht United NlOnS Friend5 of Vision meetinE. The event W511 by Volkan B07kir. the President of the UN Genual Assembly. Th¢ IAPB will continue Cle4rly's work in the UN Friends of Vision th¢ Vision for the CommonWth f4)3Jition usin8 many of the preVio51Y devdord rc%MWC Clearly will bt SUprtIng two memE$ of staff the IAPB to cany out this work James Chen wtll Scfve &5 Glow Amba55ador for the IAPB and ¢h8ir the IAPB CaM18n GroLV.
Clearl Ini ort of thc Tnjst f r the Peri1 End tmFT 2020 R¢serth Clearly will bt continuing its work on the bi88e5t ever ints tk life changtng rntential of gl855es. Scparatc tri$ over ¥¢faI year5 will e5rablish th¢ link tWe glasxs and higlKr pr£yJuttivity, bEtt¢r educion an horthlly. thi¥in8 safety. Details of tri$ that the ¢haTity ha4 at tt d of this r¢wi ¢tynmitted to L¥bntribute tOW2Tds ovet ¢he period to S¢pi¢mber 21)21 are.. PROSPER 11 & Ill- P1¥1tySIudYOIpT#&YOPia Eliniimtion iff Rvral- tlwellers Tri1 hrp05e - tk) gla5s¢s incrw¢ retention of older workus in the texiile indStry & do Rlasses incre¢ the ry(MIucitvity of older WOTkeTS in the textile industry BIUGirr CLASSROOMS Tr6#1 PurpDs¢- Do¢sitxYusingnatyrnl lightingin ¢tassrooms lead [ed11¢t10n in myopiadevelopm¢ni in China? SWISH- See Wellio Sw lrt School Trial Purpose- Do gl&8se5 irnwove thildrerfs ability allend 1¢mI¢ high sd1 v y&t)nal high sGhool (in ruraj China)? GOING CONCERN The truste¢s 8f¢ Satisfied that thc chlty wntinues to opvate a5 a going ¢on¢em the b&si$ of funding eommitr)ients rtceivcd lh •Jequaic COY¢T C4ynmJlled fuwre 1¥11•¢& The social re5triction5 imp)5ed as a 51¢ orth¢ Covid.19 pandemic im[ som¢ of th¢ Gampdign xtiviti• of the chatity during the period in qU¢Sliofj artd will a]$0 &ff¢ci the timinKof the research th the charity aims suptKJrt buthave had no direcr effe on its futurt fiD8ncing. AUDITORS Th¢ audit PK Audit LLP. will bc prO[sed for Tc-apFlnlffttn( at the f(thrnIng Annual Gen MeetinB.
Clcarl Iniiiaiives eme¥)t temlxr 2020 the Peric¥J Ended 3 The trustets {wtK) are also the diTeCtor5 of Clearty InitiatiV¢5 for the prSt5 of company lawl are responsible foT preparing the Rcp)rt of the Tru51ets and the fin8ncl swemcnts in xcordancc with applicable law and United Kingdom Accounting Srandards (United Kingdom Genera]ly Accepied Accounting Prxtice). Company law rtyuivts the Ift$ to prtpart financial #aitments for e4th ftnancial yt4r which 8ive atr and fwr vicw of the statt of affairs of the charitsble rknmpany and of the irK¥>mirTrg Ttsthjrees and application of resourcty including the income and cxpendiwrE ofthe charitable wmpthy for that period In weparing tIM)se finaD¢ial StsTement& the truaees are required s¢l¢ci suitable accouniing tlicieS and then atvly thcm ConsisIly$ obserye the methods and principles in the Charity SOPTr. Enake judgertKnts and ¢5timate5 that are reanable and prepare the financiJ statemuts on the going (x)ncern b&8is unles% it iSill4YPtOPTi8tt to prtsumtthat tht charittble mwy will continue opwations. The tru5tecs are re5wsiblt for keeping prow (OnI1g rccords which disclose with rea50nablc aUr al any time the financial sItIon of the charirable comrAny and enable them w enSUTe that the fin8mciaJ statements MplY with the Companies Act 2(M)6. They are also restxTrnsible for safegwth.ng the &ssets of the charitsble company and h¢nr£ for tskin8 rtawnable sw for the prevtntion and de*crion of fraud and other irTegulariiies. In so far as the trusttts art awaTe at tht timt ofapKXOVirt8 r¥Artnsttts' artrtuai rtpm.. there is no relevant audit infomi&ion of whicth the charitable 0)mpanS aud•Ts are and the tnLStees have tsken steps that they ought to have thken kn make themselve5 aware of any relevant aj11 inforniatiot) and ¢stablith thatth¢ aLrfliws areaware of iThforniatiDft. ON BEHALF OF ThE BOARD.. Ni¢hol&s Andr¢w Merttr- Ttt
nthnl AlItor'S Clearl Initi ives LO the MemPSOf r 2020 Opittio We have audited the finan¢iai $tatem¢rttsof Clearly InitiatLves aTrJ its subsid1 for the rKriod ended 30 kptrmFKr2020 which ¢omprise a consolidatcJ Ststvncnt of Financial Acaivilies. c4)nKklidakd and pareni compgny Balanr£ Sheets. consolidated C&%hflow St¢t¢ni and the Telated te% The financial rwrting framework that h&$ been applied in their preparion is applithl¢ law WLd United Kin&dom Accounting StsThJ8rds (Unld Kingdom GenerlY ArpIed Accounting Practictl. includin8 FRS102 "Th¢ Fi[wla1 R¢tx>rting applitable in the UK and Republic of In our opinion tht financial ststtments: giv¢ a true and fair view of th¢ swe of tht charirable group and ¢nmpany's affairs as at 30 S¢ptember 2020, aJd of the group'5 incoming rtsourra and 8pplitation of resour¢ts. it)cltsdin8 its income and expendiiure. for the perw)d have en prOrIY prep in xcordw with United Kingdom Genttally Accepted AccotsThtinB P[1¢¢. and have been Preped in accofdance with th¢ r¢quirvn¢nts of COMPLts Att 21Mkn. Basis for opinio We th)nducted our audil in accordancc with InteFnationaJ on AuditiDg (UK) {ISA$ (UK)) and 8pplitAble law. Our responsibilities under thse standards are furthu deKribed in the Auditor'5 rFnSIbilItieS for th¢ audit of the finan¢ial stat¢rnent$ seciion of our rewjrt. We art inder(kn1 of wup and PonI in acwrth¢¢ with the ¢thi¢al requir¢rn¢nts that are relevant to our audii of the finaThc1 stattsnents in the UK. including the FRC'S Ethical Standard, and w¢ have fvifilled our other ethic resrA)rtsibilities in XWTdance with these requirements. W¢ believe that the audit ¢viden¢¢ we hav¢ obtaitd $uffJ¢ient and to pdea b&sis for our opiniorL Conelu5toThs reltil8 to tonttrn Wc have Dothing to rep)rt in r¢sp¢et of th¢ folk)wing m8ttus in to which tht ISAS IUK) require us to repx)rt to you where.. the trumees. use of the going corKun 151$ of a¢ubwiting in the preparntion of the fitlartcial ststements is not appropriate" or the t[Ste£S have not dis¢losed in the firwicia] siatements any idcNified material uncertainties tlw may signifi¢ani doubtatrA)ut the company's ability Continue adopithegoingconcern basi50f arwuntsTrg for aperiod of at le&tt twelve months fmm the date when financial 5wemcnts ar¢ for i&8U¢. Other ittfomth)n The trustees are rtsrx)nsiblt for thc other inforniarion. The other information rpriSeS the inforniation includd in th¢ nu rew)¢ other the financial swcmts and ow audithr's report thereon. Our opinion on the group fin&n¢i 5tat¢tn¢nts does not cover the oiheT infomiaiion excqji to the extrni otherwise axpliciily s(ated in our Tepon. we do pt express athy fom) of assurnnce corKIu5ion there. ¢onn¢dion with audit of the firla1 statrmeTh tyjr re5rK)nsibility 1$ r¢wJ the information and. in doing 80. ron5id¢T wh¢th¢r the other InfatIon is merially inconsisient with the financial sts(emenrs or our knowlage obfaincd in t audit or otherwis¢ 3pp¢ars to be materially ls#ted. If we IdeIlfy such material irKx7n5isiencie5 or pparcnl material misststeme71ts, we are rtquirtd 10 dttemiine wther there is a Materi mi551atement in the finttn¢i¥l ststetnents or a Materi misstatement of the infomiatH)n. If. on the work we have p¢rformgJ, we wnclude th there 15 a rn&t¢rraJ mi55t8tementof thi$ infom)aticA), we ¥re rtyuired ryAlrt that fxL We have nothing w [¢rt ITr this regwd Opinion o• otber matter prescribed by Art 21106 In our opiniorn b&8ed on the work un¢kn8&cn in thc (x)yr5¢ of our wditr th¢ inforrnation givtrt in tht Tntsiec5' Annual Rep)rt for the fir)¢131 pcriod for which finaD¢ial s¢atem¢rtL8 C PT¢pard is (x)nsistent Wbth the financial ststemems: and the Trnstecs. R¢FOrt ha5 prep1 in acry)rdantt with applicablt le8aJ jtquirtments.
ndent AuditOT'S R Clearl Initiativ e PerirNJ End tember 2020 conirn Mtters we vt required ¢0 report by excep¢io• We have Doihing to rew)rt in Te5PCCt of following mauu5 whue the Companie5 Aci 2(M)6 requires US to reFrf)rt you if. in our opinim". adequate aGcwntiThg T¢T5 have b¢¢n kcpl by th¢ par¢nt company or rlurns qua¢¢ for OUT audit have bccn received from branthe5 Th)t V15jteil by us. or Ihe panI compamy financial siatcm¢rts are rni in agreement with the x4x)unting T¢rdS and Yern5,. or certain di%losures of mtsiees. r¢Muner)0n specifled by law are r¥)t mwje. or w¢ have not Te<ived all the infomiation and expl8nations we Ttquire foroui audit. The [rS[ees were rni entitl¢d to PTepaTe the financial StateMts accoTdanct with the Small companies. r¢gim¢ •kl tak¢ advaJe of th¢ small ¢ompaniw' ex¢mpiioti in the TnLstres' tepo Respousibilbtits of trustees As explained rnor¢ fully in the InJ5t¢¢5' rupon5ibility statrmtnl, th2 trustee5 are rcsptsnsiblt for the preparation of the finarKial statemts and for betng 5ati5fied that th¢y give a and fwr view. and for su¢h int¢rn81 control #5 thc truste¢5 detcrnilne is necessary io erthlc the Prepar of finwKIa15tatcmer that are free from mateTiaJ mi55tatcmerbL wljdhttduc to fraud or error. In preparin8 the financial stamcno the In are rtsp)nsible for &8StS5ing the charity's abiliry coniinue &5 a oinE conttm. di]0$12, &8 applieable. matters related to going concern and using the going corKcrn b&%15 of attountin8 unless the trusts inltnd to eea%t opeTations. or havt m ttalirt almiv¢ do so. Auditor's rtspollsibililies f•rtt•e udil •f tht fixthtil slteme•ts OUT obje¢tives are to obl reasonable 8lx)ut wh#heT the financial stements 8$ & Wle are fre¢ from at¢riai rnisstat¢men( whether due to fraud or error. and to issue 8tL auditor's rep)rt that includes our opinion. Rrasonabl¢ a5suranG¢ is a high level of wjrance is Th)t#guardD¢¢¢ thal an oudii Condu¢ in accor¢ with ISAS (UK) will 3]way5 d¢l¢¢t a rnriai misstat¢m¢nt whEn it ¢xists. Mi$sw¢tnents can aris¢ from fraud or error and arc consid¢r¢d materi if, individuJly or in th¢ a8gr¢gal& they wuld r¢a50nably k ¢XPEc¢d to intiu¢nG¢ th¢ ornic thisions of u%r5 taken on the b&si$ of these fina131 ststements. A further deycriwion of our rtsponsibiliti¢5 for the audit of the financial statements 1$ 10¢8trd on the Finla1 Reponing Council's wcbsiie aL. h]hVWw.fft.¢M&UWaudItoThCsP)Dsibi1Ill¢& Thi5 d¢xriptioD forms part of our auditor's report. This rcp)rt is madc solcly to tk Charity's m¢rnbus as a tody, in accordanc¢ with Chaptw 3 Part 16 of the Companies Act 2006. Our audii work has becn undertaken $0 that we might state to the cornpany's member5 Ihose matters we are required ro stste io them ITr an audiior's repjrt and for no oilKr pwp¥)se. To the fullest exient pemiined by law. wc do N)t accept or &ssume TesrA)nsibil¢ty anyone other than ihe charity and the charity's m¢mbeo forow audit work. for this rerKJQ or forthe opinions we have fornied. Artn¢ Harraghy {Senior Ststtjiory Atsdiior) For g•d on behalf gf PK Audtt LLP ChArtered A¢countNts Statutory Auditor I Parkshot Richmond SurTey TW9 2RD
learl Initiatives sement f Fin cial Activitics Inco an Income and Ex r the Peri(Kt En nditurt A¢c4)wJt mber 2020 30 Period 01.04.19 to 30.9.20 Unrt5tricted fimd Period 01.06.18to31.03.19 Unrestricted fund FUND BROUGHT FORWARD 81.9r2 456,715 INCOMING RESOURCES resources froth fu•ds Donations & legxies 2200.c0 5.000 I,](.[ 15,OQO 2.205.000 1.115.0 RESOURCLS EXPEP4DED Charilablt •rtiviti Govern¥n¢e ¢0sts Other resource5 expended 2.169.161 72,557 25.151 1,334.919 52.254 102,570 Totsl resourtu eXpded 2266.869 1.489.743 NET INCOMINCI(OUTGOING) RESOURCLS (61.869) (374.743) FUNDS CARRIED FORWARD form t*rt of th¢s¢ fith)ciaE ststements
Cltarl Initiative5 mber: 10787608 onsolidated Balance Sh 30 Se lerntrKr 2020 Period 01.06.18 to 31.03.19 Unr¢stridcd fvnd 01.04.19 30.09.20 Urur5tridd fund CURRENT ASSETS Debtors .PTepayments C&8h at bank and in hd 5.970 15.768 316.425 7.028 172.203 179231 338,163 CREDtroRS Amounts Eling d1 Within one year 10 159.128 .256,191 NET CURRE ASSETS 20.103 81.972 TOTAL ASSETS LESS CURRENT LIABILITIES 20,103 81,972 NET ASSETS 20,103 81,972 FUNDS Unrcstrirted funds 20.103 81.972 TOTAL FUNDS Thes¢ finan¢ia] $taem¢nts hav¢ been prtp*ed in accoidarttt with the spe£iai PTo¥isions of Part 15 of the Companies Aer 2( re[ing Sm1 cthnpanie5 and with the CharÈtie5 A 2011 s.l38. The financial sements wefe arwve41 by the Board of Trustres on 6 May 2021 and were signed on IL8 behalf by.. Nichola5 Andrew fvkr¢tr- TnL Tr N)tes fomTr of these fin8n¢ial sts1emts 10
Clearl Initiatives . 10787608 F)Solided Cashflow ¢ Period E tember 2020 P¢Tiod 01.04.19 to 30.09.20 Period 01.06.18 to 31.03.19 C•$h wed in operliNg AetivititS (144222) (296.802) lrtereasel(fkcrease) in cash aThJ ca8h ¢quival¢nt$ ith th¢ year (144222) (296.802) Cash and ¢ash equivalents * the trKg1l7g of the year 316,425 613227 Total tash and eqMivlellts #l the of ¢be yer 172.203 316.425 Retotili#tio tsf ]Itt mtsvemtNt ID fund$ t• et tasl Th)w operating 8tlivities N¢L Mov¢tTreni in fwM15 IlnGTe45ellDccrc&%e in debtors Incre&IDe¢rt) irt crediiors (61,869) 14.710 (374,743) {20,3551 Net csb ¥sed In •ptrxtiA¢ xttlvltits Thc IS form pwtof the5c finaDciai 5Cents
Re isttred numbcr.. 10787 Balanct Sh r202 30.09.20 Unrestyiaed fiThl" 31.03.19 Unrestricted fund FIXED ASSETS Invemments CURR&Nf ASSETS D¢bior5 PrepaymenLS Cash at baDk and in hand 199 15,768 307,445 7,028 162.169 169.197 323.412 CREDITORS Arnovnts failing due within y lo 153.869 256.191 r4£T CURRENT ASSETS 15J29 67,221 TOTAL ASSETS LESS CURRENT LIABILITIFS 15,329 67,222 NET ASSfTS 15,329 67,222 FUNDS Unr¢striGt¢d funds 15,329 67.222 TOTAL FUNDS Tht firn¢la1 5tstements have E¢en prepared in accor with the sp¢Gial provisions of Part IS ot thE Companies ACL Telatirtg to small companies aThJ with the Charilies 2011 s.l38. The finan¢iai swem¢rtts w¢re approvttl by the Board of Tr on 6th May 2021 and were signed on its behalf by.. Nichol¥ At)drew Merctr- Tn<¢ The notes fonn part of these firjancial ststements 12
Clearl Ini iativ es to the Financi for the Period Ended 3 Icm ACCOUNTING POLICIES Charity i#ftsrmtloA Clerly Initiaiives 15 achaTitsble£otnpany limitrdby guatte. There8iswedotTice8nd plactof busine&s isC&stle Hou54 C&stle Stree¢ Guildford. GUI 3UW. B5is of prtyrti08 The fJnarKial 5w¢ments havei%en pYqor¢d with Ac£4mlIng Trd Reporting by (hriiies: Sement of Recornmertded Prartiee appIlble in the UK and Republic of Ireland (FRS 102) (effective l January 2019)- (Ch8riti¢s SOR (FRS 102)). the Financial R¢p)rting Stsndard aFpli¢able in the UK and R¢publit of Ireland (FRS 1021 and the Companies Act 2006. The finan¢1 $w¢mts ¥¢ in #tr]in8 which 1$ the fi]rttioJMi cunulcy. Monew units are rounded to the nearest £1. TheTruMmeetsthedefinitIonofabll¢TrrfiICnIlty undErFRS 102. Asm8rKI liabilitses are initidly tgnised at historicd st or trarwtion yU¢ UTh1 othenvis¢ in the rtl¢vi x0ting w)lity tKJtes. Accountifyg couve•tion Th¢ 8¢C4)unts have be¢n pry)¥ed on the going c4)rKYrn b&si& R¢porting p¢riod The irustecs present thc th¥itics aw)unts forthc l Awil 2019 to 30 Srytemir 2020. Incoming re50unes All incoming TCSOUTce5 are iEKlttslcd on thc Ststrmcni of FinwKiaJ Activiites when th¢ rharity is l¢gaJly ¢ntid¢J to the in[¢ aJHI the ¢an 4tif1 with reaable wirw. Don&<l s¢r¥ices are valu&1 at the market Reso¥rces expended ExpcnditUT¢ IS 3r£ountcd for on an a¢(TL$ b&is )d h&8 be c17fi0j htajings Ihat a88reBatt costs related category. Wherc costs c4nTh)i k direaly artriFJted to wtsculaT htadings they hav¢ bccn loGad to tiVitiES0 a b1$ ¢OnSiSL¢rtI with of resourc The charity is exmpt from tsx to the extent that its irK4Jme and gwn5 are applied its charitsble Obj1% Investments lThvesirnents are a fonn of t&5ic fJranciaJ instrument and aTc iniiiaily r¢rogni5d at th¢ir traZ)so¢t1 value and subsequently m¢asured fair va]u¢ as at the Wartc¢ sw da MoveTh&)ts in f8ir valuc are recOls¢d in the Statunent of Financial Activitie5. F ttow•tin¢ Unr¢striid fundsGan be used i a¢¢onlarK¢ with th¢ ¢lwithble obj¢ttives at discTetion of the trusiees. Any re$thcd fid3nOn]Y k used forparticularre5trictal PUTPXU within theobj¢dsofts ¢lwity. Restii¢tioAs arise whcn spc¢tfied by the ¢knoror when fvrmts for P¥hC4Llar restri¢*d Further explarwion of the natwr and purErf)or ¢ath fiuKI is incILtj in th¢ notes to thB financial stateTntnts. 13
Clearl Intti o th¢ Winanci foT the Peri Ended tatements- eon tembtr 2020 Hire purehaye and Itsing tommitmt•ts Rentsls pd under 0rating leases are thaT8ed&) the Staaneniof FInal81 Aaivitie5 on a SEraight linc basis over thc period of thc1¢os¢. Csh t baDk Cash at bank include5 Cash and Short tern) highly liquid instrum¢nts with a m¥uiity date of three months or le from the datc of acquistlion OT oFkningof the dep)sit or similar aceounL FDngneil iD$trum¢wts The company only h&8 finanthal assets and liabilitics of a kind th* 4lfy as b45ic financiat instruments. B&8iC financiaj instNm¢D¢s initiajly reCOlS¢d Ht tranwtion va]ue and b$eqUMIY me4surcd at iheir settlement VUe. 2. Dof4ATIONS & LEGACIES Pertod Ended 30.09.20 Pefiod ErKied 31.03.19 Donations 2.2(N),(K I,100,( 2,2[,( I,100,)0 3. OTHER INCOME Perityl Ended 30.09.20 Period Ended 31.03.19 Swnsor5hip Js,000 15.000 4. CHARrrABLE ACTIVITIES Period Ended 30.09.20 Period Endol 31.03.19 Travel and $ub$istenc Digital conient ueation and promotio C•npaigrb ¢OSts 165,fy)0 23.712 6,854 1.973.595 10.026 42.613 145.357 1,136,923 2.169.161 l J34,919 14
Cltarl In e5 to the Financiaj for tht Period Ended 30 tstements- ¢x)nLinLd 5. OTHER RESOURC&S EXPANDED Period Ended 30.09.20 Unrestriacd Totsj Peri¢yJ Endcd 31.03.19 Unre5tricd Total rt costs Financial costs Rent Cost of US 0r&i0S IT and telephone costs er 1,856 1,994 85,21X) 3,029 9,116 4.862 13.898 25,151 102,570 The ¢osts of US OWiorL% forth¢ pwiod t4)MlS¢d the ath))inistrati¥¢o)styof US b&wl company. Cltarly Insti&ivc Inc. This o)mpany wa5 dormant througlthi the Ffriod ts1 30 July 2020 when it was diwIv. 6. COVERNAIYCE COSTS P¢riod End 30.09.20 Period Ended 31.03.19 AccouotaDGy f¢¢$ Legal and professional ftts Auditors, r¢nJw*ratitsn 60.480 4.277 7.800 36.IXX7 .454 7,800 71557 52,254 NET INCOMING RESOURCES Net rtsource5 are stated aftcr chargin& Ptriod ETKI 30.09.20 Period Ended 31.03.19 Auditors. remuneAtion
t the Financial for the Peri(Ml Ended 30 S tstements- ITn DEvfoRS: AMOUNTS FALLINC DUE wrrHIN ONE YEAR Peri Endol 30.09.20 Pts11 End 31.03.19 Group Trade tkbtots Pr¢payrnenL8 5.970 15,768 7,028 7.028 21,738 Chatity 30.9.20 31.3.19 Prepayments AmounL80wed by 810P utsJertakin8 7.028 15.768 199 7,028 15.967 FIXED ASSET INVESTMENTS Sharcs in group undertakinRs aTrd participating interests COST At l April 2020 and 30 Scpttmttr 2020 NET BOOK VALUE AL l Apiil 2020 and 30 Sepianber 2020 Holdings of than 20TrA The ch&Tity hold5 rnorc than 21Yh of the shartcapithl of the following companies". Company Co¥wtry of regis¢rat•M •r •ncorportto Shrts held •A Clearly Iniiiaiives Trading Limited England and Wales (Nth . IMin8ry sIOTes I l(X)1327) The aggate amount of witsl and Tescrye5 and TfsuILsof these urthtakirw for the last relevani finaThc1 period (period ended 30 September 2020) weTe'. PrDThtipal activity Cgpital gnd rexrv¢5 Profit 1110551 for th¢ period Clearly Initiativ Ttsling Limited G¢ntration of rornmtrri8J inwmc 4.775 (9.976) 16
Cl I Initiives tothe f rthePcTi in en - continuèj ETLded 30 S temEer 2020 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Gwp 30.0920 31.03.19 Tradt creditors Accruals and defcrrtd incomc 123,728 35.41X 144,357 159.128 256.191 Charity 30.09.20 31.03.19 Tr&le cyedito Accruals Amounts owed to 8r(w Undeing 123.698 22,800 7.371 144,357 111,834 153.869 256.191 11. MOVEMENT IN FUNDS Gr•yp Ai 1.04.19 Na movement in fvnds At 30.09.20 U*rt$tritd FuDds Charity At 1.04.19 Nct movement in funds At 30.09.20 Unttslricted Funds 17
Clearl Ini iv al ttnrtd ed30S 20 12. RELATED PARTY DISCLOSURES During the period ended 30 September 2020 the charity paid £4.862 (PeriLwJ to 31 March 2019: £3.029) to supplie[5 on behalf of an asso¢i8ted US registcred company. Clearly lrtitiative Jn¢. Mr. Chen aThJ Mr. Tomasi¢ were dirtor$ of Clearly Initiive Ino as well as kin8 tnJstee5 of Cle4rly Initi1yr& Clearly Initi1¥¢5 Ino was dissolved on 30 July 2020. During the [lod ded 30 Sepmber 2020 the charity paid£13.840 {Periodto 31 Manh 2019.. £4.290) in r¢5pector refunded up¢nses to L¢gaGy Adviso L, a Hong Kong based COTnpany of which Mr. Chen is a director. These costs related w tht previoLLS lod (ended 31 March 2019) arxl w are Tecogni7A in the Stateme1 of Financial Activities for period cndcd 30 Sepl¢mber 2020. During the p¢riwJ ended 30 Septunb¢r 2020 Mr. of Clwly InitsJiiv¢s mod¢ donations totoiling £2200.IM)O IPeri(Ml 31 March 2019: £1.100.(YJO) to the clwity. The charity did not pay r¢mw)eTation or b&)efirs io any rjf the trLLSttts dwin8 the Friod. 13. COMPANY LIMITED BY GUARANTEE Clearly InitiatiV¢S i5 a Comp?Y limited by gwanr xu)rdingly th)rs Th)t have a slw¢ fdaPit41. Each mcmbcr of the o)mpany. of which there wcrc 3 the balarKe 5hect dat4 undertake5 contribute an amount exceeding £1 ¢ach to Iheasscts of the dwithble(xbrDpany in theeventof iibeingwound While hq She or Itis a m¢mbEr. OT with onc year afttt h4 she or it to bc a memtr. 14. CHANGE OF ACCOUNTING REFERENCE DATE The ¢h8rity exteTthd the cwrthi FTiod or reithing i)n 30 Septerniw 2020 rather than 31 Mtr¢h 2020 and so the ntjmkrs presented (¥¥ver a wioj of 18 months. The L¥)mp3rati¥e period co¥erslO months )5Dm l Junt 2018 31 MarGh 2019. IS. POST BAL4NCE SHEET EVE On l°JaT)uary 2021 dwity tr8n5f¢rred its including thr rights intsngibl¢ btaDd and int¢llecDJal PTopcty &%sets. to The InternlOnal Agency forthc Prcvcniion of BlindrEss (JAPB). The IAPB is a UK Ttgimered charity Ino. 1100559). From l# January 2021 Clearly Initiative5 will dircct involvcrnent in mpaIgn activity using the Clearly brand and will instrad rJ5 its efforts on ftmding medical rest4h in pursuit of its charitsble objcctivts. li has a150 (35 Part of the transfer agrccmenl with the IAPB) agre to pn)vid¢ 24 month5 of fwjding towards th¢ tAPB'$ 8¢ of lh¢ Clearly alkI aThl IP activate (M[W in purwitof Cl¢ly Initi1V ¢hari&ble objectives. 18
Consolidated Dethil nt f Finantiaj Adtviti for the Peri Ended 30 S tem 2020 INCOMINC RESOURCFS Period Ended 30.09.20 Period Ended 31.03.19 Voluntary Ineome Donaiions Bwk 5a]es SrM)rwtship 2.21K>.( I,i(K).otK 15.0(K> Total intoming ve50unes 2.205.otKI .115.000 RESOURCLS KXPANDED Ch#rttAble getfvltlts R¢5rarch Trnvel and subsistence Digital r4)ntrnt Creation Ffomotion pai8n LX)Sts 165.000 23.712 6.854 .973.595 10,026 42,613 145.357 I,l36,923 2.169.161 1.334.919 Gov¢rn•ntt costs FInKIal review Ixga] artd ptofth8ional fees 68280 4,277 43,8(M 8,454 72.557 52.254 Support eosts Bank ch8¢$ 679 Other Rent Insurdncc Printing. posta8t and stat[onY IT 50ftwaTe and consumable5 Telephone subrIptiO11$ Forei eKehanBe lo& Cost of US OPErntion$ 85.2(K) 928 1.905 5.934 3.182 398 1,106 3.029 1,747 365 10.231 3.667 2,423 1,177 4,862 25,151 102.570 This forTn rArt ofttK srautory finttD¢iaJ ststemer 19
I Inktkativrs 501ida ent of Ftnancia] Aut¥iti ternE£T 2020 d Ended 30 Period Ended 30.09.20 Period Eftded 31.03.19 Totsj ve504rees exptndtd 2,266,869 1,489,743 Net loss Thi$ pge fonn part of the SNutory fithan¢ial sthtements 20