REGISTERED COMPANY NUMBER.. 10787608 IEng]and and Wale51 REGISTERED CHARITY N'UMBER: 01180144 of the.[ruceS and Consolidated Financial Staiem¢nts for the Year Ended 30 Se for Clearl Iniiiailves ber2
ConienLS of Ihe Fina for the YeaT Ended cmcnls ber 2023 P88e Report ot th¢ Trustees I to4 Tru51ecs Reswnsibility Stateonent Indeprndtnt Examiner's Report Consolidaied Stytementof Financial Aciivtti¢s Consolidated Bdan¢e Sheet Consolidated C&shflow Siatem¢a)I Charity Ba]ance She 10 Notes to the Fin8ncial Statements Dctailcd Ststemcnt of Financial Aciiviiics 17
Clearl Initiatives for Ihe Ytrdr End 30 S iemhe 2 The Irusiees who are also direciors of th¢ charity for th¢ purp)s¢s of th¢ CompgDi¢5 Aci 2006, pr¢s¢n¢ their r¢wrt with thc financsal SLiiem¢nisof Ihc charity for thc Ycarcndcd 30 Seplcmbcr2023. Thc financial stalemcnls comply Wlth the Chariiits Act 2011. Ihc Cotnpanies Arl 2006, the MeTnoraDdum and ArtiG1¢5 01. A55ociation and Accouniingand Reporiing by Charities: Siatetnentof Retomm¢nded Pwti¢¢ applicable to ¢horit1¢5 pr¢pgring th¢ir accounts in accordance with the Fin2rtcial Reportin8 S18ndard applicabl¢ in th¢ UK and Republic of Ireland {FRS1021 (effective l January 20191. REFERENCE AND ADMINISTRATIVE DETAILS Registered Comp4ny number 107876Q8 (England and Wales} Re8iSttred Charity number 01180244 Registernd offitt Castle House, Castle Street Guildford Surrey GUI 3UW TrusteC5 Yue Jia JaTne5 Ch Ni¢holas Andrciv Mercer - Chairnian Paul Anthony TotD45iC Indeptthdtnt Examiner John M Wler Indeptndent Eximinèrs PK Audii LLP Chartered Aecountsnts I Parkshot Richrnond Surrey TW9 2RD Solicitor5 Bates W¢lls Braithwaite. 10 Street Place. London. EC4R IBE Advlsers Bk¢r5- NaiWe51 Bank PLC, 151 High SireeL Guildford, GUI 3AH Attountants Chadsan Limit¢(L Castle Housc, Castl¢ StrccL Guildford, Surrey. GUI 3UW
learl Initi iv n of ihe Trustees- Conlinued ror Ihe Ytrdr Ended 30 se lemb¢r 2023 STRUCTURQ GOVERNANCE AND MANACEMENT CoverniThg document The organisaiion is a chariiable company limit¢d by guaranic¢, incorporditd en 24th May 2017 2nd TeEi#ered as a arity on 8th October 2018. Tht COTnpany wzsestablish¢d und¢T a Memorandurn of Asseciaiion tvhi¢h established the obje¢ts and powers of the charitable ¢otnpany and is governed urNJ¢r its Ariiclcs of Association. In the event of the company b¢ing wound up member$ ar¢ r¢quired io contribute an amount not cxceeding £1 each. The charity consiiiutes a limited company as defined bv the Comp8ni¢s Aci 2006. Reeruitment and appoitttmtnt ofnew trw5ttes Th¢dIrecrSer1hec0tnpaY area150 thechaTity Iru51ees for th¢ purposesof charity lai¥. As defined by Ihetharit) S Articles of Association. dIreor5 are appointed by an ordinary resolulion. When recruiting new directors, the charily $¢¢k5 the best rrf)&sible cthlidate suit¢d tts th¢ p)51tion with Ihc right levels of experienLr and knowl¢dge. Induction and tr&llllttg of uew trnstees The ix)8rd monitors and discusses the appropriaienes$ of the skillsct of trustees 10 the operations of th¢ charity and seeks to aptM)int Twsiees with ih¢ relevani skills if 2ppfopTiat& Thesc Trusiees are fully bTief¢d on the operaiions And obj¢ctive50f thctharity by the boyJd. All Trusteesdre ls0 provided with, dnd &sked for cunfirrnatiun thaith¢y have reAd, relevarbt guidance from The Charity Cornmission and to sign and Tdurn a "fil and prow peryon" derlaration. OrgAknisxtional strueture The charity has notmployees. sir 31 Decemter2020 the¢harityced direth involvemerti iThnpai siVili¢S and so op¢rations and board activity are now coordinaied dir¢¢tly by the trustees and compatty seeTet8ry in liaison with the charity's accountants Chadsan Limit¢d and representatives from tLga¢yAdvisors Limited, a Hon8 Kong based CoMpY of which Mr. Chen ts adiTector. The charity'swholly owned subsidiary Clearly lrtiliative5 Trading Limited w28 es12bli$hed to gencraie commercial STX)tkSOT5hip income. The charity tNsl¢es have ¢tsJnpli¢d wilh the dllty in scction 17151 of ih¢ 2011 Chwitics Act lo have du¢ re8attl 10 guidance published by the Charity Cornmission li.e. publi¢ benefit siatemcnil. Risk management Th¢ tnjsiees have a duty to ideniify and vieW the risks (o which Gharity 15 exposed &nd 10 ensure appropriate controls ar¢ io place lo provide reagonable assurance against traud and em)r. A risk register was maintain¢d and regularly vieWed l updated by In¢orporaied London up until th¢ poini that the charity cea%ed operational activiiies in De£ernber2020. Since thai dale the risks of the Charity h4v¢ been managcd by the cosnpany 5ecrewy in liaison with the trustees and representative5 from Legacy Advisors LimitJ, a Hong Kong b85¢d (x)mpany of which Mr. Chen is È direcior. OWECTIVLS AND ACTIVITIES Objectives and *im$ The objectives of the thwity, as set out in its Articjcs of Association, are t in the interests of the publi¢ bth¢fit.' Pmot¢ th¢ health of the publi4 including (bul not limited to) by undertakin8 trKi funding restch into the natur¢. causes. diagnosi& prevention, treath]ent and cure of all fomis of visual impairnient and the treatmentof 3nd care for visually Impair people Advance th¢ ¢ducation of the public through nding and undertaking research into th¢ health, economi sothal and oth¢T impacts of visual impaimient.
learl Initiatives rt of ihe Truste£s- continued for (he Year 2023 Siemificant fi¢tivitie5 IR Deccmtrr 2021 Clearly prtsVid the final tr8nchc of grani funding io The InteTnbiiono1 Ag¢nw for th¢ Pr¢v¢ntion of Blindness IIAYB) as partof the a55et transfer agreementofihe PTevious year. This funding supported two memtKTS of siaff ai (he IAPB 10 torry out work with UN friends of Vision and I Vision for the Commonweajth walition Ihrough to December 2022. Throughout theyearcleorly haycal contributed tocarnpaiw) r¢si>urces in supwrtof the IAPB'sadivities whilst at the same time WQTking closely with the Ch¢D Y¢t-Sen Family Foundaiion in ordcr to 5¢curc funding for the research projects that it 15 helping io fthart through collaboration with Queen's Urtiversity Belfast. ACHIEVEMENT AND PERFORMANCE Throughout the year the chgriiy eoniinued to financially support relevant Tesearch proj¢¢ts and lo investiBa new opportuniiies ¢0 do 50 in the future. FITrIANCIAL REVIEW Rest¢$ policy Rcgulsr T¢Vi¢WS of thc rcscrvcs ar¢ undcrtakcn to cnsurc that thcrc arc always sufficicnl funds io meci present future obligations. A detailed Cashflow for the next fifteen months of operniions hag been prq)ared is update41 and agreed on a regular b&%is by the charity's rnain funder Tr Chen Ytt-sen Foundation. Princip41 funding soureés Th¥ principal funding source is from thTrnaiion5 provided by Thc Chen Yel-S¢n Foundaiion, a Hon8 Kong drninislered chaTilable foundation ofi¥hiLh Mr. Jame% Chen is Chaimian. Investment policy and objtrtiv The ¢h4Tity h&$ no plans or wlicic5 rcgardin2 InV¢Stmcnt5 &8 rcscrvcs are held JD a rurrcnl bank account so thai funds are r¢adily available. FUTURE DEVELOPMENrs During the period October 2023- Sepiember 2024 Clearly will coniinue 10 5UPWrt ih¢ WOTk ofThe Iniem21iona] A8¢n¢y forTh¢ Preveniioth ofBlindne55lTAPBI *% well &8 furthering regearch iTrlothe h¢n¢fiL8of¢ye car¢. sharing these finding5 with world leaders and iniemational bodies. Supporting the IAPB Thc IAPB will cothtinue Clcarly's work in Ihc LN Fricnds of Vision and thc Vision for thc Commonwealth coalition using rnany Dl'ihe PTeviously dClOped resources. Cl¢Jrfy will continue to provide finance for third party campaign resource. R¢5earch C]¢arly will b¢ Continuing its work on the biggest ever Study into th¢ life changing tXFkniial of gla5S¢S. Separate tri$ ov¢r s¢veral yeaTS will establish th¢ link between gJas5es higher prjU¢l1vIty, bett¢r education and, hopefully, drivitt8 saf¢ty.
iativ ort of th¢ Tru51ccs- Gonlinu¢d Year Ended 30 Se ternber 202 Deiails of trials thai the chatity h8S, at the date of rhEs rewn, committed to contribute towards over th¢ p¢riod to Sepi¢mber 2024 and beyond are.. LISll- SEE Well io Stay IFI School TriAI Purpose- a randorniscd controlled trial dcsigned ttsinvestigatewhethergiving gla5SeS to secondary school rhildrcn in rural China itnproves their chances of g¢lling admiiied 10 aCadeiC high school. The tri will involve 8.tKJO ¢hildr¢u and take 34 months to complete. TrÈal ProErt$5- Th¢ trial was pau$¢ddue loCOVID. In 2023, schoo15 in Ihe provinces originally selected fokr th¢ tsial informed the rbxarch tcatn that they wer no longer willing to allow childTcn to randomized into Ireattnent am15 Iih¢y wanted all childr¢n to r¢G¢ivc glasses simulianeouslyl. The rc$ear¢h team has idertlified new parthcrs. and the irial is moving to Liaoning. China. Thc irial Icam has high-l¢vel 5UPPOrt fToin the provincial Mtnistry of Edu¢ation lo conduct the Iri81. The trial is scheduled to rel8un¢h in Sopt¢mbeT 2024. GRANTS Grants tOW8rd$ rese8r¢h projects and other ¢aTnpaign activilics are proposed to th¢ Gharity from time lo time. Before being awarded are auihorised by Ihg Iru51ees on the basis that they 5UPPOrt activiliex which will further the objectives of the charity. GOING CONCERN Thc trust¢cs arc satisfjed that thc charity continues to operate 8s a going concem ort the basi5 of fi]nding corntnitn]¢lliS received that ar¢ a(kquale to cover COTnmitt¢d fiitur¢ activities. Independent Examlners John M Wall¢rof PKAudit LLP,will bc propos¢d forre-appointmEntatlh¢ fonhcoming Annual General Meeiin8. ON BEHALF OF TH OARD.. 10th July 2024 Nichol dr¢wMercer. TTu5t¢
Truslecs K¢5 for the Year Ended Statctncnl 20 The trustee5 (who arc also th¢ dir¢ctor5 of Clearly Initialsvcs for thc purposcs of Company law) arc rc5pon5ible for pr¢paring the Report of the Trusl¢¢s and the financial stsl<]nenls in accordance with applicabl¢ law and UniTrd Kingdom Accounting Standards (United Kingdom G¢n¢rally Accq)ted Accounting Practice). Cotnpgny law requires the trust to prepar¢ financial sialctnents for each financial y¢gr which giv¢ a true and fair vicw of the state of affairs of the chatitable company and of Ihe incoming resources 2nd &pplicaiion of resources. including ihe income and expenditu. of th¢ charitable cornpany for that period. In pr¢paring Ihosc financial 5tstetnenty the Iru%lee5 re r4uir¢d lo select suitable accountink policieg and then apply thcm coll8¢1. obscrvc Ihc mcthods 3nd prin¢iplcs in thc Charity SORP., tnake judgemenis and e51iJnas thai are reasonable and pTudent' PTepare the financial siaietnents Dn the Boing concern basis unless it is inappropriat¢ to presume ihaiihe charitable company will continu¢ its operatiens. The Iruste¢s ar¢ responsible for keeping propeT accounting r¢¢ords which diKlose with rnsonable accuracy at any lim¢ the flnancial posjtion of the charitable company and 10 enable Ihetn to ensure that th¢ financial ststements ¢o]nply with the Con)panies Aci 2006. They ar¢ also responsible for safeguarding the *55ets of the charitabl¢ company and hence for t8king reasonable Steps for th¢ pr¢vEnlion and d¢¢¢iion of ftaud and other irregularitics. Thc trustecs arc rc5ponsiblc for the rnainlcnancc and integriry of thc charity and infomalion includ¢d on thc charity's website in accordance with legislation in the Unitcd Kingdom governing the preparaiion and dissetnination of financial statetnenis. ON BEHALF OF T OARD.. 10th July 2024 Nichola ndrew Mery¢r. Tn
Inde endent Examin to the Mcmbcrs of e Consolidated Accouiiis for ihe Year Eed 3Q Se tember 2023 I r¢port to ihc chamiy trusteeson my txttnination of thc xcounts of thc compgny forthcycar¢ndcd 30 Septernber 2023 whi¢h are S out on pages 7 10 16. RespoN5ibilities and basi5 of rtport As the charity's Irusiees of the wmpany {and also its direthors for the puryK)ses of company lawl you are responsible for ihe PTeparation of th¢ consolidalcd accounts in a¢¢ordan¢e with Ihc requirementsof the co[nnieS Act 2006 C'ihe 2006 A¢i"l. Having saiisfied tny%eifihai the consolidai¢d accounts ofthe ch8riiable company ar¢ nol rquired lo be auditcd under Part 16 of the 2006 Act and arc cligiblc for indcp¢ndcnl cxatninalion, I rcprt in rc5PC¢t of my examitthtion ofyour charity's accounts as carried out undersection 145 of the charli1e8A 2011 I'lhe 2011 Act"). In caTrying out my examination, I havE followed the Direclions given by the Charity Comtni55ion und¢r section 145{5}Ib) ofth¢ 2011 ACL ldependent examlner's Statement I hawe cotnpleled iiiy examination. I confirm that m matters have rx)rne to my 8tt¢ntion in conne£tion with the examinatson giving me cause lo b¢li¢v¢ thai in any material respec(: acc4)uniing records were noi kepi in reswt ofthe compatty as required by seaion 386 of the 2006 Act., or th¢ accounts do not attord with those accounting records,. or th¢ accounts do noi comply with the accounting requirernenis of section 396 of the 2006 Act other than any r¢quiremeni ihai the accounts give a'tru¢ and fair. view which is not a maller wnsidereii Ys purt o(#m in(kpendeni ¢x4minaiion: or the ac¢eun15 hal'e not been prepar¢d in accordance with ihe Tnethods 8nd principles of th¢ S¢eMent of RewmmCCd Vractice for accounting and reporting by Chariti applicable to chariiits preparing iheir accounis in acc4)rddnce with the Financial Reporting Standard applicable in the UK and Retxtblir ofireland IFRS1021. I have no Concerns and have Come acr055 no oiher matters in tonneclion wilh the ¢¥wninalion to which alleniion should be Jrawn in Ihis repurt in ord¢r lo enable a proper Understandin ofihe dCL'oUt. to b¢ reachcd. John M Waller PKAudit LLP Chartera Accountant8 1 Parkshtrt Richmond Surfrey TW92RD
Consolidated Stat¢rn¢TIt ofFinanbial Activities nco oraiin an Jncorne and Ex endire Account S¢ l¢tnbEr 2023 Ended 30.09.23 Ye2r Ended 30.09.22 Unrestricted fund UnresiricTrd fjjnd FUND BROUGHT FORWARD 25,249 283,341 INCOMING RESOURCES Jncomlne resourte$ from generated [ndS Donations & le8&cies Notes 85.000 990,000 Totllj incomlng resource 85.0(X) 990.000 RESOURCES EXPENDED Charitable a¢tivltie8 CowÈrDAn¢e costs Otb¢r resources expended 76,QOO 13,810 3,037 1231,979 12.546 3,567 Total resourees expwkded 92,847 1.248.092 NET (OUTGOJNGI I INCOMING RESOURCES 17,8471 1258.092) TOTAL FUNDS BROUGHT FORWARD 25.249 283,341 FUIYDS CARIUED FORWARD 10 The notes fonn part of the&e fitwicial Statements
isiered nurnber.. 10787608 Consolidated Balance She Atj lembcr 2023 Year Endcd 30.09.23 unst¢t¢d fund Year End¢d 30.09.22 UThrcstricied fujyj Ntstes CURRENT ASSETS Prep8ytnents Cash at b3nk glld in hw 603 36,056 588 43.241 36.659 43.829 CREDITORS AmDI]nls falling due within one year 19,257 18.580 NET CUIiREf4T ASSETS 17.402 25,249 TOTAL ASSETS LESS CURBINT LIABILITIES 17,402 25,249 NET ASSETS 17.402 25,249 FUNDS UnstrIcted fiJnd5 10 17.402 25.249 TOTAL FUNDS For th¢ financial ycar cndcd 30 Scptcmbcr 2Q23 thc company was entitled to cxcmption from audit undeT $e¢tion 477 of the Co]npanie5 Act 2006 Telating to small cDmpani29. The trust¢¢s acknowledge their rcsponsibilities for complying with the requiretnents of the Companies Act 2006 with respeet to accounting records and preparation of financial siaiements. The (Nsiees have nor rcqiiired the wmpany to obtain an audit of ils financial staremenis for the year in question in accordance with section 476. These financial slalcmcnt5 have been prepared in accordance with the pVisIOnS applicable 10 companies Subject to ihe stnall cotllP8nics regitne. The fin2ncidl 51alements wer¢ aPPTov¢d by the Board of Iruslees and authori5ed for i55ue on 10th Jul 2024 8TE 5igtLed on its behalf by.. cholas Andrew Mer¢er- TTUStee Cojnpany registration No. 10787608 The notes form P8rt of these fLnancial 5tatem¢nts
arl I tiatives islered rtumber.. 10787608 Con%olidaled Cdshflow Statement Foi the Year Ended 30 S tem cr 2023 Year Ended 30.09.23 YeaT Ended 30.09.22 used ffin optriting activities 17.1851 1269.7511 Jncrease/(Decr¢Ls¢} in cash and cash cquival¢nts itt the yetsr 17,185) 1269.751) Cash and cash equivajents at the b¢ginning of the ycar 43.241 312992 Total ¢aslL aJLd ea$h equlvalents at the end ofthe year 36.056 43.241 Retontilixtion of net movement in fund5 to Det c*sh flow from operatkng g¢tivitie5 Nct Movement in funds Oncrease)ID¢crease in prepayn]ents IncreasellD¢¢reHs¢l in crcditors 17.8471 {151 677 I258.2) 339 Ntt cssh uxd tn operAtIg gctlvltles Th¢ ttOlBs fotTn pan of these financial &laternent5
istered nurn Balan 30.09.23 30.09.22 Unr¢8tti¢icd fijtkl UnrEstrict¢d fund Note5 FIXED ASSETS Ittve$tments CiniRET4T ASSETS 552 603 35.960 302 588 43224 Debtor5 PrepayJn¢Dt5 Cash ai bank and in hgnd 37.115 44,114 CREDITORS Amouft15 falling duc within one year 19,227 18,550 P4ET CURRENf ASSETS 17,888 25.564 TOTAL ASSETS LESS CURRErfr LIABILITIES 17.889 25,565 NET ASSETS 17,889 25565 FUD4DS Unr¢5tricted fijnds 10 17.889 25,565 TOTAL FUNDS For the financial year ended 30 September 2023 ihe compaDy was entitled exemption froTll audit und¢T 5eciion 477 of the CoTnpanie% Act 200fi Teldlin¥ to %mall ¢ompunies. The ItlJ5tees ¥knowledge IheiT responsibilities for cotnplying with ihc requirements of th¢ Companie5 Act 2006 with rc5peGt to accounting records and preparation of fjnancial sthiements. The t51¢¢5 have not required the company to obtain an audit of it5 financial staiemenls for the year in question in ccordance with section 476. These fInancial 51aiements have b¢¢n prepared accordare wirh rhe pTovisiotis applicable 10 companies subject to the small compatties regim The fin2n¢ial 5tatcmc are signed on its be wet¢ approved by the Board of trnslccs and authorised for issue on 10th 2024 and f by.. Ntcbol95 A rcw Mer¢¢r- Trustee Co 8151r8tion No. 10787608 The notes form pan of these finaDci81 statements 10
Clearl Initiatives NalL% (n th¢ Financial 8iaiemenLS for thc Ycar End cmb¢r 2023 ACCOUNTING POLICIES Charity intomiation Cl¢arl> Initiatives is achari(able¢otnpany limiied by guarantee. Th¢regisIeredo1ce and placeoflxjsiness isCLsile Hous¢, Castle Str¢eL Guildford. GUI 3UW. Basi5 of prep4rAtlon #ttd attoll¢lg Convention Th¢ financial stsiements have been prpared in accordance il'iih the charitable company'$ tn¢Tnorandum and Orticl¢s, lh¢ Companies Act 2006, FRS102."The Financial Reporting Standard applicable in ihe UK and Republic of Ireland" I"FRS102') and the chariti SORP "Accoiiniing and Rewrting by Charities.. Stai¢meni of Recotntnended Praclice applicable 10 ¢h8TiLies Preparing their accDunis in acujrdance wilh Ihe Financial RetM)rting Standard applicable in th¢ UK and liepubli¢ of Iland IFRSIO'I" leffeciive l January 20191. The fironGial 5tatcmcnts arc preparcd in 5tcrling which is thc functional cujyency. Morteiary uni15 rounded to th¢tw¢st£I. Th¢ Trust meets Ihedefinition of apthlicbenefit eniity und¢r FRS 102. Asscts and liabiliiies are inilia]ly recogn15¢d historical cosi or transaction value unless otherwise $iad in the relevani accounting Jy)licy notes. Basis of tonsolidation The wnwlidaied group fina121 statements consist of the fjnancial stat¢m¢nts of the parenl eompany Clearly InitTatives togdheT Wlth all enlities conirolld by the panI company lils 5uhsidiaTleSI. All finattciai 51at¢tnenls aremth up to 30 S¢pternber2023. Where te$Sory, adjustments are made tothe fitjancial statcmcals of Subsidiaries to bring th¢ accounting tx)li¢ies uscd into lin¢ with those uscd by oihcr mcmbcrs of thc group. All intra-group iransaciion$, balan and unrealised gain$ on trwjsactions bciween group companies are elitninated on con501idaiiort. Unredised k>5ses are also elitnin8i¢d the Irdn&qction provides eviden¢e of an impairment of the asset trattsferred. Golng tontern The financial 51aiements have been prq)ared on ihe going Fo%i%. The Chen Yei-sen FoundaliDll will ntinue to supwrt th¢ operaiion5 of the cligriiabl¢ company forthe for¢s¢eabl¢ fvturc. At the time of approving the financial statem¢nis the trustees have a r¢asonable expectation that the charitable company has fdpauate resources to ¢ontinu¢ in OFtrntional existence for al let tw¢lve monihs from the dale of approval of the accounts. Incomitjg resource5 All inc4)ming resourcc5 are included on the Siatemenl of Financial Activities when the chariiy is legally eniiiled 10 (he ineotne and the gmOLmi can be qu8ntified with re&qonabIe2ur4ry. Resources expended Exp¢nditure 15 acwunled for on an a¢¢ruals b&sis 2nd has been ¢lassifi¢d under headings thai 8ggreBaie a]1 CO3 related lo that category. Where costs cannot be direcily altrilIed to PiCular headings they have be¢n 1Cated to activitlC5 on a b&sis ¢on5i5tcnt with thc usc of r¢$ourcc5. T2Xation The charity is exempt from coryormtioj) tsx io the exient tlwt its income and gains 8re 4)plied to it5 Charitable objects.
Note% lo the Financial Sialernenl%- Lontinued r thc Year Ended 30 Se ietnber 2 lknve$tmen15 Investments are a fom? of basic financial instru]nenl and are ioitially recognised at their transaction value atsd subsequently mcasurcd at fair Ve a$ at the balance datc. Movcments in fair value are recognised in th¢ Ststcrncnt of Financial Activitics. Fund ae¢ountlng Unrestricted fi]nds Can be used in accordance with th¢ charitsble objectives at the dist]etion of th¢ tru5t¢es. Any restricted thndscan onlybe used foTparhculRrr¢5trict¢d purposes within theobjecls of Ihecharity- R¢5triction5 ar when specified by the donor orwhen fijnds aTe T8iS¢d for particularrestricied purposes. Furth ¢xpSanation of th¢ J)atur¢ and purpose of each fund is includ¢d in the noos 10 tbe fitw]Gial 5tal¢rrKnts. C8sh at bank Cash at bank includc5 cash and short tetrn highly liquid insirumcn15 Wlth a m4turiry d&tc of Ihrcc months or less from the date of acquisition oropening of the d¢p051t orsimi]araccount. FÉnaneial in5trument5 The Company only has flnancial ossets and liabiliiies of a kind that qualify a5 basic fLnancial instNments. Basic rinancial instsum¢nt5 are initially recognised at transaction value and 5ub5¢qu¢ntly measured at their selt]emertt value. DONATIOP4S & LEGACIES Year Ended 30.09.23 Year Ended 30.09.22 tkknations lunrestricledl 85,000 990.000 85,000 990,000 3. CHAIUTABLE ACTIVITIES {UNRESTRICTED) YellT Ended 30.09.23 Year Ended 30.09.22 Rearth Di8ilal content creation and promotion Campaign st5 Grants I funding Inolc 131 40,0 915.850 6,129 36,(XJO 274,000 36,000 76.000 1,231,979 12
NDI %1 for the Y he Fin*D¢Tal %ialeTngnl%- c(Inlinued ndcd 30 Sc tcmbcr 2023 4. OTHER RESOURCLS EXPANDED Year Ended 30.09.23 Year Ended 30.09.22 UnrtstriLled Tot Unr¢slricled Total ri c05t5 Financial costs IT and lelephone cos Other 213 1,689 736 1.661 3,037 3.567 5. GOVERNANCE COSTS Year Erded 30.09.23 Year bnd¢d 30.09.22 Acwuntancy fees Independent examiner's remuneration 10.210 3.600 10.146 2,400 13,810 12.546 6. NET {OUTCOINGI I INCOMING RESOURCES Net r¢souTce3 are stated aft¢rcharging: Y&v Ended 30.09.23 Period Ended 30.09.22 IndeperOentexaminer's remuner&tion There were tJ) ethploy¢¢s during the ye8r.
the Financial Siaiements- continued for (he Year Ended 30 S le 7. DEBTORS: AMOUNTS FALLIP4G DUE WITHIN ONE YEAR Year Ended 30.09.23 Year EDded 30.09.22 Group Trade Debior5 Prepaym¢nts 603 588 603 588 Charfty 30.9.23 3Q.09.22 Prepayments Amounts owed by group underiaking 603 552 588 302 1,155 890 8. FIXED ASSET INVESTMENTS Shales in group undertakings and participating intere515 COST At l Octob¢r 2022 atld 30 September 1023 NET BOOK VALUE At l 0¢betr 2022 and 30 September 2023 Holdings of more than 200/0 The d)ariry holds motc thgn 2[ of th¢ sharc capital of thc foll¢)wing companics.. Company Country of regl$tratlon or incorporatÉon Clgss Shares held •/. Clearly InitiatÉves Trnding Litniled England and Wa1¢5 INO. 10013271 Ordlnary shaTes The aggr¢gat¢ amount of capital and r¢s¢rv¢s and the rcsults of these undert8kin85 for ihe last relevant finajjcial petiod Iperiod ended 30 S¢ptember 20231 were.. Prln¢lpal activity Capital and reserves Proflt l{lossl for the period Clearly Initiatives Trading Limited G¢ratIOn of mmeTti81 income (4861 1170) 14
Noies the FitWICi21 Staietnen fo[ the Year Ended ember 2023 9. CREDJTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 30.09.23 30.09.22 Trade creditors AcCa]S and defetred income 657 18,600 9,580 9.(X)O 19,257 18.580 Charlty 30.09.23 30.09.22 Trade creditDrs AccNal8 627 18,600 9,550 9,000 19,227 18,550 10. MOVEMENT IN FUNDS Group AtOI.10.22 Net movement tn fiLnd8 At 30.09.23 Unrestricted Funds Charlty AI 1.10.22 Net rnov¢m¢ni in fiinds At 30.09.23 Unrestricted Funds 15
Not¢5 10 Financial Suietnents- Loll for the YeaT EtM4ed 30 Se tnber 2023 I I. RELATED PARTY DISCLOSURES During the ye&T ended 30 Sq)l¢mber 2023 The Chen Yei-sen Troundation. a Hong Kong adtninist¢r¢d ¢harilable foundation of which Mr. Jarnes Chen is Chaimian made donatio talling £85,(M)0 {2022.. £990.0001 lo th¢ charity. The ¢harity did not pay rernurtration or kjefils lo any of the lrnslees during the period. 12. COMPANY LIMITED BY GUARANTEE Clearly Initi1V¢S is a ¢otnpany limited by guaranicc and accordin8]y d8 not have a 5harccapital. Eath member of th¢ wmpany) of which thcrc ivcrc 3 at thc balancc shcci daic, undcrt2kc5 lo conlributc an llmouni not cxcccding £1 ewh to the¢1$ of the charitE&bl¢ company in iheeventof itb¢ing wouTNJ up while tLG sheor it is arnemtKr. orwiihin one year after he, she or it eease$ to be a member. 16
Consolidated Detail Stsicment of Financial Activitie for the ear Ended 30 Se iembeT 2023 INCOMINC RESOURCES Year Ended Period Ind¢d 30.09.22 Voluntary Incorye Donation5 30.09.23 85.000 990.000 Totgl lth¢omlng re50Nrces 85,0(M) 990,000 RESOURCES EXPANDED Charitable activitit5 Research Digiial content creation gnd promotion Carnpaign costs Grants 40.1MJO 915.850 6.129 36,UU 274,000 36.(X)O 76.(K)O l ?31.979 Covernance to$ts FinanEial review 13.810 12546 13,810 12,546 Support tost¥ Finance Ba]sk ch8rge5 213 245 Other Insurance IT software and consumables FO18Th exchan8e losses 1.135 1,689 1.170 491 3,037 3,567 Totsl re$outte$ expended 92,847 1,248,092 Net (Lossl I Profit TtLiS page does not form part of the statutory financial ststemenls 17