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¢T￿l 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 FinarK￿l 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 Serrtemt*r 2020. The financi￿ sta*ments 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.. Sts*meni of Recommended p￿tIcE8ppI1Cab1e 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 Ch*rity 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¢owl￿ts Sthtutory A￿dI￿r I PaTkslK)I Richmond Surrey TW9 2RD Sol•titors Bales Wells BraithwaiK 10 Queen Strtet PIXE Lonthn. EC4R I BE Advi5er5 B8nker$-N*We6t Bank PLC. 151 High Strt¢ GuIldfor￿ GUI 3AH Ac¢oulltants- Chadsath Limi*d, 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 limi*d gu¥ant* inCorr￿*d on 24th May 2017 and regis*red &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 arno￿t ￿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 O￿l[lary Twlutsov. When r￿ul11n8 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 appropria*ne55 of the 5killsetof wu5tee5 to th¢ ope￿I0n&0f the charity and $eck5 lo app)ini Trustecs with the Tel¢vant skills if apprO￿at¢ T￿tt$ 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 a￿j rcwrn a-fii and r*optr person- declar*ion. Or¢ani8adon#l strutt•re The rharity has no e¥nployees aTMI w the 0￿10￿21 attivitits th]rin8 the reKM)rtin8 period were unde]tsken by InCor￿rated London. 8 3rd party contraciorwith the finwKe h1n￿lOr& cawried out by Chadsan Limited. Itkn)ryA)rated London wa5. uniil 31 Dec£mber 2020 provide gJpp)rt and thlivcr lh¢ markaing and 1mnm￿ica¢i0DS for the rharsty i￿lUdingStrOl¢8iC d¢v¢loF*ncn( di8Ltsi, and CRM. Aft¢r this d#t¢ tk chority cel￿￿ direc( involvemeni in carnpaign xtivirifs amd so all Ope￿1￿$ 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 r￿Mme￿Ial $ponsorship iE)comt. Th¢ ¢h8rity tNstees have C4)mplied with the duty in Section 17{5) of the 201 I Chariiits kn to have due rewd to guidanct publislKd by ￿ Charity Commi￿￿￿ (i.c. public bcnefit stalancnt R15k m•n•gement The tn￿et$ 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 Incor￿Tated 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$S￿latIon. are to, in th¢ interests of thE public ￿Ther11.. Promote the health of publi< in¢luding (bul TMX limit￿ to) by UTMkrtthng arnl fvThlin8 rese8rch into the naturt. causes. diagnosis prcvcntion. trea￿eTrI and c￿￿ of all forrn5 of visual im￿l￿¢nI and the treatment of and w¢ for visually impjird pa)pl¢ Advan(% the aL￿atrOn of the public thtou8h fvTrdl￿ uThlertaking research into the I￿th. ￿onoMic. swial and othe* impacts of visual ImtwrnienL Clearl Initiatives in for the Peri(￿ Endtd 30 S t sigttif￿nt#ttI¥iti¢g c1¢￿1y,$ obiertives temain the same: to Urgenily ga a pair of gr￿e￿on 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 re￿arCh into the health. eo)nomiE xKial aThJ other impacts of visual impwrrncThl- championing innov&ion and spreadtn8beA rrfactice th* helpsmake swhi*wand 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 cI￿lY 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 Rg￿rt On Vis¢on was rclca5ed. Thc re￿ corKludcd that at l¢&%t 2.2 billitsn pwpl¢ worldwide $truggle with tK)or vi$ion.Thi$ SUp￿rted what lothA been Clearly'$ argument and provided the tewn with a5tror4 ￿¥Oc￿Y 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 Re￿rt ort Vision. Alongside other members of the LfN FTiend50f Vision group, CltsJly arranwialarge eXhibi￿n 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 deSi￿e4y 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 cl￿SeS campai8n. Thi5 iniiiaily enWmr￿Std.. 'Unreadable B(xbk'. asCh￿Is. 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 anIM￿lOn 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 Cle*ly t¢*N qui¢kty ow G18>W irt C18sses w))kwgn to fil tht cuntnt clima*. This involved turntngour Schr￿15 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 r￿two￿l we rnanag￿ lo pull kng¢th¢r an impr¢55jv¢ rostcr of child autlK>rs and illustTaior5 including: Qu￿tIn Blo￿ Ruskin B¢*rf Crtssida Cowell, Laurtn Childs, K￿herIne 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¢ S￿rieS. WI￿re 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 oli￿r 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 ￿ ￿bIl￿a 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 ithVes￿ents a9 r¢s¢r¥&8 held in a bank acco￿t so that fund8 we readily available FUTURE DEVELOPMEPfftS During the peri¢yJ OrthEer 2020- se￿emI￿r202I 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 romrnunicatiDn5oftheorwis*ion. 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 commi￿10￿ on Globa] Eye Health * tht United N￿lOnS 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 CommonW￿th f4)3Jition usin8 many of the preVio￿51Y devdor*d rc%MWC Clearly will bt SUp￿rtIng 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 CaM￿18n GroLV. Clearl Ini ort of thc Tnjst f r the Peri￿1 End tmF*T 2020 R¢se*rth 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 educ*ion 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- P￿￿*￿1¥1tySIudYOIpT#&YOPia Eliniimtion iff Rvral- tlwellers Tri*1 hrp05e - tk) gla5s¢s incrw¢ retention of older workus in the texiile ind￿Stry & 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 sd￿1 v y￿&t￿)nal high sGhool (in ruraj China)? GOING CONCERN The truste¢s 8f¢ Satisfied that thc ch￿lty 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 ￿5￿1¢ orth¢ Covid.19 pandemic im￿[￿ som¢ of th¢ Gampdign xtiviti• of the chatity during the period in qU¢Sliofj artd will a]$0 &ff¢ci the timinKof the research th* the charity aims ￿ suptKJrt buthave had no direcr effe on its futurt fiD8ncing. AUDITORS Th¢ audit￿ PK Audit LLP. will bc prO[￿sed for Tc-apF￿lnlffttn( at the f(*th￿rnIng Annual Gen￿￿ MeetinB. Clcarl Iniiiaiives eme¥)t temlxr 2020 the Peric¥J Ended 3 The trustets {wtK) are also the diTeCtor5 of Clearty InitiatiV¢5 for the p￿r￿St5 of company lawl are responsible foT preparing the Rcp)rt of the Tru51ets and the fin8ncl￿ swemcnts in xcordancc with applicable law and United Kingdom Accounting Srandards (United Kingdom Genera]ly Accepied Accounting Prxtice). Company law rtyuivts the Ift￿￿$ 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 t￿licieS and then atvly thcm Consis￿Ily$ obserye the methods and principles in the Charity SOPTr. Enake judgertKnts and ¢5timate5 that are rea￿nable 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 re5w￿siblt for keeping prow ￿(O￿nI1￿g rccords which disclose with rea50nablc a￿Ur￿ 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)mpan￿S aud•￿Ts are and the tnLStees have tsken steps that they ought to have thken kn make themselve5 aware of any relevant a￿j11 inforniatiot) and ￿ ¢stablith thatth¢ aLrfliws areaware of iThforniatiDft. ON BEHALF OF ThE BOARD.. Ni¢hol&s Andr¢w Merttr- T￿￿tt nthnl A￿lItor'S Clearl Initi ives LO the MemP￿SOf 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 prepar*ion is applithl¢ law WLd United Kin&dom Accounting StsThJ8rds (Unl￿d Kingdom Gener￿lY Ar￿pIed Accounting Practictl. includin8 FRS102 "Th¢ Fi[w￿la1 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 prO￿rIY prep￿ in xcordw with United Kingdom Genttally Accepted AccotsThtinB P￿[1¢¢. and have been Prep￿ed in accofdance with th¢ r¢quirvn¢nts of COMP￿Lts 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 r￿F￿nSIbilItieS for th¢ audit of the finan¢ial stat¢rnent$ seciion of our rewjrt. We art inder￿(kn1 of wup and Po￿nI 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¢ obtait*d ￿ $uffJ¢ient and to p￿￿dea b&sis for our opiniorL Conelu5toThs rel￿til8 to tonttrn Wc have Dothing to rep)rt in r¢sp¢et of th¢ folk)wing m8ttus in to which tht ISAS IUK) require us to repx)rt to you where.. the trumees. use of the going corKun 1*51$ 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 ittfom*th)n The trustees are rtsrx)nsiblt for thc other inforniarion. The other information r￿priSeS the inforniation includd in th¢ nu￿ rew)¢ other the financial swcm￿ts 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 fir￿￿la1 statrmeTh￿ tyjr re5rK)nsibility 1$ ￿ r¢wJ the information and. in doing 80. ron5id¢T wh¢th¢r the other Inf￿atIon is m*erially inconsisient with the financial sts(emenrs or our knowlage obfaincd in t￿ audit or otherwis¢ 3pp¢ars to be materially ￿ls#￿ted. If we Ide￿Ilfy such material irKx7n5isiencie5 or pparcnl material misststeme71ts, we are rtquirtd 10 dttemiine w￿ther 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 prep￿1 in acry)rdantt with applicablt le8aJ jtquirtments. ndent AuditOT'S R Clearl Initiativ e PerirNJ End tember 2020 conirn M*tters 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¢￿T￿5 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 pa￿nI compamy financial siatcm¢rts are rni in agreement with the x4x)unting T¢￿rdS and Ye￿rn5,. 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 [r￿S[ees were rni entitl¢d to PTepaTe the financial StateM￿ts accoTdanct with the Small companies. r¢gim¢ •kl tak¢ advaJ*e 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 statem￿ts 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 sta*mcno the In￿ are rtsp)nsible for &8StS5ing the charity's abiliry ￿ coniinue &5 a oinE conttm. di￿]0$1￿2, &8 applieable. matters related to going concern and using the going corKcrn b&%15 of attountin8 unless the trus*ts inltnd to eea%t opeTations. or havt m ttalirt￿ al*m*iv¢ do so. Auditor's rtspollsibililies f•rtt•e *udil •f tht fix*thti*l sl*teme•ts OUT obje¢tives are to obl￿￿ reasonable 8lx)ut wh#heT the financial st*ements 8$ & W￿le 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 rn*riai 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 fina￿131 ststements. A further deycriwion of our rtsponsibiliti¢5 for the audit of the financial statements 1$ 10¢8trd on the Fin￿la1 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¢count*Nts Statutory Auditor I Parkshot Richmond SurTey TW9 2RD learl Initiatives s￿ement 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.c￿0 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 eXp￿ded 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 h￿d 5.970 15.768 316.425 7.028 172.203 179231 338,163 CREDtroRS Amounts E￿ling 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] $taem¢nts hav¢ been prtp*ed in accoidarttt with the spe£iai PTo¥isions of Part 15 of the Companies Aer 2(￿ re[￿ing ￿ Sm￿1 cthnpanie5 and with the CharÈtie5 A￿ 2011 s.l38. The financial s￿ements wefe arwve41 by the Board of Trustres on 6 May 2021 and were signed on IL8 behalf by.. Nichola5 Andrew fvkr¢tr- TnL Tr N)tes fomTr of these fin8n¢ial sts1em￿ts 10 Clearl Initiatives . 10787608 F)Solid￿ed Cashflow ¢ Period E tember 2020 P¢Tiod 01.04.19 to 30.09.20 Period 01.06.18 to 31.03.19 C•$h wed in oper*liNg AetivititS (144222) (296.802) lrtereasel(fkcrease) in cash aThJ ca8h ¢quival¢nt$ ith th¢ year (144222) (296.802) Cash and ¢ash equivalents * the trKg1l￿7￿g of the year 316,425 613227 Total tash and eqMiv*lellts #l the of ¢be ye*r 172.203 316.425 Reto*tili#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¢r￿t) irt crediiors (61,869) 14.710 (374,743) {20,3551 Net c*sb ¥sed In •ptrxtiA¢ xttlvltits Thc I￿S form pwtof the5c finaDciai 5￿C￿ents 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 Th￿t fir￿n¢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#ftsrm*tloA Cle*rly Initiaiives 15 achaTitsble£otnpany limitrdby gua￿tte. There8iswedotTice8nd plactof busine&s isC&stle Hou54 C&stle Stree¢ Guildford. GUI 3UW. B*5is of prty*r*ti08 The fJnarKial 5w¢ments havei%en pYqor¢d with Ac£4m￿lIng *Trd Reporting by (hriiies: S￿ement of Recornmertded Prartiee appIl￿ble 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￿ $w¢m￿ts ¥¢ in #tr]in8 which 1$ the fi]rttioJMi cunulcy. Monew units are rounded to the nearest £1. TheTruMmeetsthedefinitIonofa￿bll¢Tr*r￿fiICnIlty undErFRS 102. Asm8rKI liabilitses are initidly ￿t￿gnised at historicd ￿st or trarwtion y￿U¢ UTh1￿ othenvis¢ in the rtl¢v*i *x0￿ting 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 Srytemi*r 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 ￿ 4￿￿tif1￿ with rea￿able wirw. Don&.( 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 FIn￿KIal review Ixga] artd ptofth8ional fees 68280 4,277 43,8(M 8,454 72.557 52.254 Support eosts Bank ch￿8¢$ 679 Other Rent Insurdncc Printing. posta8t and stat[on￿Y IT 50ftwaTe and consumable5 Telephone sub￿rIptiO11$ 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