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Registered number: 04426377 Charity number: 1092209 ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) CONTENTS
| Page
Reference and administrative details of the Company, its Trustees and advisers | 1
Trustees' report | 2 - 4
Independent examiner's report | 5
Statement of financial activities | 6
Balance sheet | 7
Notes to the financial statements | 8 - 12
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees
S Melani (resigned 16 May 2025)
T Drzich
A Hans (resigned 31 March 2026)
F Corbasson (resigned 31 March 2026)
L Gerversman (appointed 16 May 2025)
A Kitshoff (appointed 8 April 2026)
Company registered number 04426377
Charity registered number 1092209
Registered office 101 New Cavendish Street, 1st Floor South, London, W1W 6XH
Independent Examiner Harris & Trotter LLP, 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH
Page 1
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their annual report together with the financial statements of the Company for the 1 January 2025 to 31 December 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 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 published on 16 July 2014. Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. Objectives and activities The OneSight EssilorLuxottica Foundation is committed to reducing uncorrected poor vision by expanding access to sustainable vision care for underserved communities . The Foundation supports charitable activities that provide access to eye examinations and glasses for people in need, strengthen local vision care systems, raise awareness of the importance of good vision, and contribute to the development of sustainable access to vision care where such access is limited or does not exist. The Foundation works as part of the wider OneSight EssilorLuxottica Foundation network, collaborating with affiliated charitable organisations, NGOs, governments and like-minded partners to support scalable and longterm solutions in the United Kingdom and overseas. During the year, the Foundation continued to use its resources to support philanthropic refractive error activities, donations of eyewear, vision screening initiatives and the creation or strengthening of sustainable access points for vision care in communities where the need is greatest. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Achievements and performance Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) Financial review (continued) b. Financial performance The income for the Foundation in the year under review was £134,658 (2024: £158,724) and the expenditure in furtherance of the charitable objectives, as set out in note 4 to the financial statements was £302,664 (2024: £2,748). The Foundation's cash reserves at the end of the year were £148,799 (2024: £315,646). The trustees have adopted a policy that, where possible a general funds cash reserve, covering twelve months administration running costs should be maintained. The unrestricted funds at 31 December 2025 were £146,399 (2024: £313,246) which is in excess of the running costs of the Foundation of £2,549 (2024: £2,748) for the year ended 31 December 2025. The funds will be used to support philanthropic refractive error activities across UK and overseas. In accordance with the Memorandum and Articles of Association the trustees have the power to invest in such assets as they see fit. The Foundation has a policy of keeping surplus liquid funds in short term deposits. This low risk investment policy provides the flexibility in making charitable grants and ensures the Foundation had adequate funds to meet ongoing grant commitments and administration costs in accordance with its reserves policy. Structure, governance and management The Foundation was incorporated as a company limited by guarantee on 29 April 2002, and on 24 May 2002 was registered with the Charity Commission for England and Wales. Its governing document is its Memorandum and Articles of Association. The management committee, who are also the trustees and directors for the purpose of company law, who served during the year were: F Corbasson T Drzich A Hans L Gerversman No trustee had any beneficial interest in any contract with the Foundation during the period. Existing trustees brief new trustees on the Foundation's aims and objectives. They are given a copy of the Memorandum and Articles of Association along with the latest financial statements. They are also given literature about the Foundation and a copy of the Charity Commission's guidelines for trustees, which will help them fulfil their role in line with charity and company law. Under the Memorandum and Articles of Association, at the first annual general meeting all the trustees shall retire from office and, at every subsequent annual general meeting, one third of the trustees shall retire annually and be eligible for reappointment. Page 3
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) Structure, governance and management (continued) The trustees review the strategic activities and financial position of the Foundation at its regular board meetings. They consider potential risks to which the Foundation is exposed. As part of this process, the trustees have implemented a risk management strategy which comprises an annual review of the risks which the Foundation may face and the establishment of systems and procedures to mitigate those risks identified in the plan and the implementation of procedures designed to minimise any potential impact on the Foundation should those risks materialise. Financial risk management The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Statement of Trustees' responsibilities The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: ∙select suitable accounting policies and then apply them consistently; ∙observe the methods and principles of the Charities SORP (FRS 102); ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ L Gerversman |
Date: 24 August 2026 |
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ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Independent examiner's report to the Trustees of Onesight Essilorluxottica Foundation ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. | the accounts do not accord with those records; or
3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and 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. Daniel Walters FCA Harris & Trotter LLP Chartered Accountants 101 New Cavendish Street 1st Floor South London, W1W 6XH Dated: Page 5
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025
|  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
| Note | £ | £ | £
Income from: |  |  |  |
Donations and legacies | 3 | 134,658 | 134,658 | 158,724
Total income |  | 134,658 | 134,658 | 158,724
Expenditure on: |  |  |  |
Donations payable |  | 300,115 | 300,115 | -
Governance costs | 5 | 2,549 | 2,549 | 2,748
Total expenditure |  | 302,664 | 302,664 | 2,748
Net (expenditure)/income before net gains/(losses) on investments |  | (168,006) | (168,006) | 155,976
Net (losses)/gains on foreign exchange |  | 1,159 | 1,159 | (2,173)
Net movement in funds |  | (166,847) | (166,847) | 153,803
Reconciliation of funds: |  |  |  |
Total funds brought forward |  | 313,246 | 313,246 | 159,443
Net movement in funds |  | (166,847) | (166,847) | 153,803
Total funds carried forward |  | 146,399 | 146,399 | 313,246
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 12 form part of these financial statements.
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ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 04426377 BALANCE SHEET AS AT 31 DECEMBER 2025
|  |  | 2025 |  | 2024
| Note |  | £ |  | £
Current assets |  |  |  |  |
Cash at bank and in hand |  | 148,799 |  | 315,646 |
|  | 148,799 |  | 315,646 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 8 | (2,400) |  | (2,400) |
Net current assets |  |  | 146,399 |  | 313,246
Total assets less current liabilities |  |  | 146,399 |  | 313,246
Net assets excluding pension asset |  |  | 146,399 |  | 313,246
Total net assets |  |  | 146,399 |  | 313,246
Charity funds |  |  |  |  |
Unrestricted funds | 9 |  | 146,399 |  | 313,246
Total funds |  |  | 146,399 |  | 313,246
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ L Gerversman |
Date: 24 August 2026 |
The notes on pages 8 to 12 form part of these financial statements.
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ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
One Sight Foundation is a private charitable company, limited by guarantee, incorporated in England and Wales. Company registered number: 04426377. Charity number 1092209. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Onesight Essilorluxottica Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
| 2.2 | Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
| 2.3 | Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT.
| 2.4 | Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 8
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.5 | Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
| 2.6 | Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
| 2.7 | Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Page 9
ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 3. | Income from donations and legacies
|  |  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Donations | 134,658 | 134,658 | 158,724
| 4. | Analysis of donations
|  |  | Donations to Institutions 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Donations paid | 300,115 | 300,115 | -
| 5. | Governance costs
|  |  | Unrestricted funds 2025 | Total funds 2025 | Total funds 2024
|  |  | £ | £ | £
| Accountancy and independent examiner fees | 2,400 | 2,400 | 2,700
| Bank charges | 149 | 149 | 48
|  | 2,549 | 2,549 | 2,748
6. | Independent examiner's remuneration
| The independent examiner's remuneration amounts to an independent examiner fee of £2,400 (2024 - £2,700).
7. | Trustees' remuneration and expenses
| During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
| During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).
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ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8. | Creditors: Amounts falling due within one year
|  | 2025 | 2024
|  | £ | £
| Accruals and deferred income | 2,400 | 2,400
| 9. | Statement of funds
|  | Statement of funds - current year
|  |  | Balance at 1 January 2025 £ | Income £ | Expenditure £ | Gains/ (Losses) £ | Balance at 31 December 2025 £
|  | Unrestricted funds |  |  |  |  |
| General Funds - all funds | 412,305 | 134,658 | (302,664) | 1,159 | 245,458
| Reserves | (99,059) | - | - | - | (99,059)
|  | 313,246 | 134,658 | (302,664) | 1,159 | 146,399
|  | Statement of funds - prior year
|  |  | Balance at 1 January 2024 £ | Income £ | Expenditure £ | Gains/ (Losses) £ | Balance at 31 December 2024 £
|  | Unrestricted funds |  |  |  |  |
| General Funds - all funds | 159,443 | 158,724 | (2,748) | (2,173) | 313,246
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ONESIGHT ESSILORLUXOTTICA FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 10. | Analysis of net assets between funds
|  | Analysis of net assets between funds - current year
|  |  | Unrestricted funds 2025 | Total funds 2025
|  |  | £ | £
| Current assets | 148,799 | 148,799
| Creditors due within one year | (2,400) | (2,400)
| Total | 146,399 | 146,399
|  | Analysis of net assets between funds - prior year
|  |  | Unrestricted funds 2024 | Total funds 2024
|  |  | £ | £
| Current assets | 315,646 | 315,646
| Creditors due within one year | (2,400) | (2,400)
| Total | 313,246 | 313,246
11. | Related party transactions
| During the year, total donations of £41,367 (2024: £1,161) was received from a company in which a trustee is also a director.
Page 12