2012/2011 annual accounts - international glaucoma association
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Company no. 1293286
Charity no. 274681
OSCR no. SC041550
The International Glaucoma Association
Limited
Report and Financial Statements
31 July 2012
The International Glaucoma Association Limited
Reference and administrative details
For the year ended 31 July 2012
Company number 1293286
Charity number 274681
OSCR number SC041550
Woodcote House
operational address
Henwood
Ashford
Kent
TN24 8DH
Council members
K Barton Chair
W L Blake Vice chair and honorary treasurer
J Mitton Vice Chair
M Banes
P A Bloom
M H Miller
S Nagasubramanian
S Page
B Quartey Elected March 2012
M B Sage
M E Shaw
A B Vaughan
Principal staff D J Wright
Bankers HSBC Bank plc Caf Bank Limited
Camberwell Green 25 Kings Hill Avenue
23 Denmark Hill Kings Hill
London West Malling
SE5 8RP Kent
ME19 4JQ
Barclays Bank plc
1 Churchill Place
London
E14 5HP
Solicitors Stone King
16 St John's Lane
London
EC1M 4BS
Chief Executive and Company
Secretary
Registered office and
The members of the Council, who are also directors under company
law, who served during the year and up to the date of this report were as
follows:
15 Highpoint Business Village
1
The International Glaucoma Association Limited
Reference and administrative details
For the year ended 31 July 2012
Auditors Sayer Vincent
Chartered accountants and statutory auditors
8 Angel Gate
City Road
London
EC1V 2SJ
Investment managers Charles Stanley and Company Ltd
25 Luke Street
London
EC2A 4AR
2
Structure, governance & management
The International Glaucoma Association Limited
For the year ended 31 July 2012
The Council of Management (the Council) presents its report and the audited financial statements for
the year ended 31 July 2012.
Report of the Council of Management
Members of the Council of the Association may be elected from the eligible membership at the
Annual General Meeting (AGM) or may be appointed by the elected trustees where particular skills or
abilities are, in the opinion of the existing members of the Council, needed for the proper functioning
of the Council. New members of Council (trustees) are provided with appropriate materials to give
them a good understanding of the role of charity trustees in general terms and also with a background
briefing from the Chair and other members of the existing Council.
The financial statements include the results of the Fund for the IGA Chair of Ophthalmology for
Glaucoma and Allied Studies (Charity no. 1123188).
The reference and administrative information set out on pages 1 and 2 forms part of this report. The
financial statements comply with current statutory requirements and the Statement of Recommended
Practice - Accounting and Reporting by Charities.
The organisation is a charitable company limited by guarantee incorporated on 15 July 1976 and
registered as a charity on 20 December 1977. The company was established under a Memorandum
of Association, which established the objects and powers of the charitable company and is governed
under its Articles of Association.
The organisational structure is such that there is a Management Sub Committee that oversees the
management of the Association a Finance Sub Committee that oversees the finances of the
Association and other matters such as risk assessment, insurance etc. Both of these committees act
under terms of references and delegated authority agreed by the full Council of the Association and
likewise both report back to the full Council at each Council meeting. The Council decides the overall
policy and strategy of the Association in accordance with the expressed will of the eligible
membership as stated by a resolution or resolutions at the AGM that is/are passed by the meeting.
The Council delegates to the Chief Executive the power of day to day management of the Association
in accordance with the policies set by the Council.
The International Glaucoma Association has a policy that collaboration and partnership with other
charities and organisations are to be sought and encouraged on the grounds of efficiency and
effectiveness, provided that such collaborations operate to the benefit of all concerned.
The following list represents an account of those relationships that are considered to be of
significance at this time.
The International Glaucoma Association (IGA) is constituted both as a charity and a company limited
by guarantee and as such the members of its Council are directors for the purposes of company law
and trustees of the charity for the purposes of charity law. The powers of the Council and the
permitted activities of the Association are described in its governing document, which is the Articles of
Association.
In summary, the Council define the policies of the Association and the Chief Executive and the staff of
the Association implement these policies.
3
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
Charities and organisations (in alphabetical order):
Blindcare
Fight for Sight
Fund for the IGA Chair of Ophthalmology for Glaucoma and Allied Studies
Lions Eye Health Programme
Macular Disease Society (MDS)
Optical Confederation
The Association of British Dispensing Opticians (ABDO)
The Association of Contact Lens Manufacturers (ACLM)
The Association of Optometrists (AOP)
The Federation of Manufacturing Opticians (FMO)
The Federation of Ophthalmic and Dispensing Opticians (FODO)
An organisation providing support to charities in the UK.
The aim of the Fund is to invest its funds to provide annual income to fund a Chair of Ophthalmology
for Glaucoma and Allied Studies.
The Macular Disease Society is, as its name suggests a medical charity dealing with macular
degeneration. It is similar to the International Glaucoma Association in that it is a condition specific
charity with a membership structure and like us, it provides free literature to hospitals for use by
patients with this difficult, but increasingly treatable condition. We are in the process of developing a
strategic partnership with the MDS whereby the IGA’s Business Development Managers will represent
the MDS as well as the IGA when they visit hospitals around the country on a shared cost basis. In
this way each hospital visit will be twice as cost effective and the shared cost agreement which is
currently under negotiation should allow for the recruitment of a fourth Business Development
Manager for the South West and South Wales.
This organisation is a confederation of most of the major optometric organisations except the College
of Optometrists comprising:
Our work with the Optical Confederation, which is at the highest level, allows us a degree of influence
in matters pertaining to glaucoma and excellent access to members of the optometric and dispensing
optician profession. This is becoming of considerable strategic importance as the management of
stable glaucoma patients is increasingly being devolved to elements of the optometric profession.
National Council for Voluntary Organisations
We have continued to support the Lions Eye Health Programme (a basic public awareness campaign
about the need for regular routine eye examinations to ensure the early detection of potentially
blinding eye conditions including glaucoma), which is a Signature Project for Lions of the UK and Eire
(Multiple District 105)
We have an active collaboration with Fight for Sight in terms of the Carrots Night Walk (a fundraising
event held in London in September 2012) which will result in a jointly funded research project.
A charity formed by a consortium of vision related charities to promote payroll giving. The IGA was a
founder member of this charity and continues to benefit from the income thus derived. It is
represented on the Board of Trustees of Blindcare by David Wright, the IGA Chief Executive, who has
recently been elected as Chairman of the Board of Blindcare by his fellow trustees.
4
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
Allergan Pharmaceuticals
Provide support for the publication of individual print runs of some IGA patient information materials,
support part of our website costs and our compliance programmes.
Cameron Graham Associates
Provide support for part of our website costs and assist in our compliance programmes.
A collaboration of many ‘visual impairment’ charities, professional and trade bodies representing
ophthalmology, optometry and the pharmaceutical industry which aims to raise the status of glaucoma
at local and national Government level for the benefit of glaucoma patients across the UK.
Vision 2020 UK
An organisation set up to meet the challenge of reducing unnecessary visual impairment in the UK by
2020.
Wales Glaucoma Alliance
A highly active and effective collaboration of many Welsh visual impairment charities, professional
and trade bodies representing ophthalmology, optometry and the pharmaceutical industry which has
succeeded in raising the status of glaucoma at Welsh national Government level and elsewhere and
has been instrumental in developing new glaucoma management pathways and innovations.
World Glaucoma Patient Association
Royal National Institute for Blind People (RNIB)
The RNIB is one of the largest and best known visual impairment charities in the UK and since its
‘merger’ with Action for Blind People it has developed an even stronger campaigning profile (Action
for Blind People have largely taken over RNIB’s service provision role). The IGA has an excellent
working relationship with RNIB and acts primarily as an influencer of glaucoma policy on a number of
RNIB sub-organisations such as the Voluntary Sector Forum.
Royal National Institute for Blind People Cymru (RNIBC)
This is the Welsh branch of RNIB and we have an even more highly developed relationship with
RNIBC than with RNIB with several successful joint projects having been run in Wales, including
nurse education projects, Eye Clinic Liaison Officer (ECLO) education projects, general awareness
activities (including the Welsh Assembly) and plans already under development for a community
pharmacist education project.
UK Glaucoma Alliance
This exists for the promotion of best practice among national glaucoma associations across the world,
the development of new national patient based glaucoma associations, the support of existing
national patient based glaucoma associations and through them the promotion of best practice in
glaucoma management. The IGA is actively collaborating with the organisation of the World
Glaucoma Week, which take place from the 10 to 16 March 2013.
Companies
Provide support for the publication of individual print runs of some IGA patient information materials
and assistance in our compliance programmes.
We received limited support from the following companies (in alphabetical order):
Alcon Laboratories
5
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
Risk Assessment
Objectives and Activities
Education provision to the public, patients, their carers and the medical professions.
Achievements and Performance
The development of new web based information in multiple languages and formats as facilities
and funding permit.
The funding of research into glaucoma and the dissemination of the results of such research in
order to further enhance knowledge of the condition, its detection and treatment.
Provide support for the publication of individual print runs of some IGA patient information and
assistance in our compliance programmes.
Pfizer
With each company we continue to develop an understanding of glaucoma and the needs of
glaucoma patients. Support from these companies takes the form of financial support as indicated
above and also provides access to and participation in a wide variety of activities, meetings and
programmes targeting the medical profession and the public in different ways. At no time has the IGA
endorsed or been asked to endorse any medication or product, nor has there ever been any
restriction placed on the content of the lectures delivered, materials provided to delegates or stand
design.
The Council of the IGA continue to review the major risks applicable to the charity on an ongoing
basis and have continued to address such risks as are identified as a result of this process. A
comprehensive risk register has been developed which is currently awaiting Council consideration
and approval.
Merck Sharp & Dohme
The objectives of the charity are to help prevent glaucoma blindness throughout the world by means
of:
Provide support for the publication of individual print runs of some IGA patient information materials
and support part of our website costs and our compliance programmes.
The main aim of the Association is to raise awareness of glaucoma and to provide information to
glaucoma patients and others with an interest in glaucoma in order to improve compliance with the
treatment regimes prescribed for the management of the condition.
Raising awareness of the condition and, in particular, of its insidious nature and of the need for
regular routine eye examinations in order to encourage and facilitate the early detection of
glaucoma.
The provision of information in response to questions received from individuals and
organisations.
The maintenance of an up to date website which provides as much information as proves to be
both possible and practical with full compatibility for blind and partially sighted readers.
The IGA has continued to develop its patient information Sightline service throughout the year and
has continued to develop and support the formation of new patient support groups in hospitals across
the country, which have shown continued strong growth in the last year. Our Business Development
Managers (BDMs) based in Scotland, the North of England and the South East have done much to
enhance this aspect of our work as well as placing the IGA compliance briefcase in hospital eye
departments throughout the country. These can be used to counsel patients on how to use eye drops
and the compliance aids available. The use of IGA materials in hospitals is an excellent measure of
the success of our BDM programme and it can be seen that there has been a tremendous growth in
demand for IGA materials. In line with the aims of the Association, numerous presentations have
been given to a wide variety of health care professionals and other organisations with the themes of
improving compliance and general awareness of glaucoma by our BDMs and also by our Chief
Executive and Deputy Chief Executive and the Association has maintained and developed its
exhibition programme to include new ophthalmic conferences, optometric conferences, nursing
conferences and training days and other similar opportunities.
6
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
The IGA has continued to develop its patient information Sightline service throughout the year and
has continued to develop and support the formation of new patient support groups in hospitals across
the country, which have shown continued strong growth in the last year. Our Business Development
Managers (BDMs) based in Scotland, the North of England and the South East have done much to
enhance this aspect of our work as well as placing the IGA compliance briefcase in hospital eye
departments throughout the country. These can be used to counsel patients on how to use eye drops
and the compliance aids available. The use of IGA materials in hospitals is an excellent measure of
the success of our BDM programme and it can be seen that there has been a tremendous growth in
demand for IGA materials. In line with the aims of the Association, numerous presentations have
been given to a wide variety of health care professionals and other organisations with the themes of
improving compliance and general awareness of glaucoma by our BDMs and also by our Chief
Executive and Deputy Chief Executive and the Association has maintained and developed its
exhibition programme to include new ophthalmic conferences, optometric conferences, nursing
conferences and training days and other similar opportunities.
7
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
Fundraising
Plans for the Future
1. To increase public awareness
2. To increase professional awareness
3. To improve patient education
Reserves Policy
At 31 July 2012 the Association held £1,884,129 in general reserves.
The founding principle of providing our information free at the point of need continues and we are
grateful for the continuing generosity of Alcon Laboratories, Allergan Pharmaceuticals, Merck Sharp &
Dohme and Pfizer for their sponsorship of various IGA publications.
Looking to the future, it is hoped that we will continue to benefit from pharmaceutical company
sponsorship of our published materials in the coming year.
A comprehensive strategic plan for the Association has been developed by the Chief Executive and
staff of the IGA which is currently under consideration by the Council of the Association. It is founded
on the three strategic priorities previously identified by the Council:
The IGA continues to monitor the implementation of the NICE Glaucoma Guideline (CG85) and the
subsequent NICE Quality Standard for Glaucoma. We have also worked in close collaboration with Dr
Roshini Saunders (Consultant Ophthalmologist in Dunfermline, Scotland) through our Scottish BDM,
Mr John Hughes to encourage the Scottish Authorities to initiate a Scottish Intercollegiate Guideline
Network (SIGN) guide covering glaucoma. SIGN is the Scottish equivalent of the National Institute for
Health and Clinical Excellence (NICE) and a SIGN Guideline will take into full account the differences
between the English National Health Service and the Services provided in Scotland. The International
Glaucoma Association has already been invited to participate in this process, an invitation which we
are pleased to accept.
The Association has continued to raise funds directly from its members and friends through donations
and subscriptions and continues to benefit greatly from the generosity of members and others who
choose to leave a legacy and/or ‘in memoriam’ donations to help the work of the Association.
However, the present financial condition of the country as a whole has led to a reduction in value of
legacies to the Association (particularly as a result of the poor housing market) and the returns on our
other investments are likewise reduced. In order to help address this vital aspect and indeed
fundamental aspect of the running of the IGA, we have developed a comprehensive strategy that is
designed to allow us to continue to provide the services that are essential to our membership and to
glaucoma patients across this country and elsewhere. However, it has been necessary to cut our
grants budget for the 2012/13 financial year in order to balance the different demands placed on our
resources. A part of the new strategic plan of the Association will be evident to members in the new
look IGA News and there are many other developments that are designed to strengthen the work of
the Association. Members who would like further details of these plans are welcome to contact the
Chief Executive who will be pleased to discuss all aspects of the new strategy.
The reserves policy agreed by the Council of the Association is that the Association will hold reserves
of approximately 12 months operating costs plus an amount agreed by the Council necessary to fund
known and likely future commitments, to fund the IGA professorship and research, plus an
appropriate sum for contingencies. For 2012/13 this is set as £1,700,000.
8
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
The members of Council will apply these funds to
Develop their international patient support and awareness programmes.
Beneficiaries of our services are people with glaucoma and their carers, including health care
professionals; and the charity recognises the need to raise awareness of glaucoma in the general
public.
The investment policy continues to provide a measured spread of both capital gains and income. The
policy is currently under review, however. The investment managers are targeted to match the
performance of the FTSE 100 and APCIMS Balanced Index, which they more than acheived.
Public benefit
The Council reviews the aims, objectives and activities of the charity each year. This report looks at
what the charity has achieved and the outcomes of its work within the last twelve months.
The Council reports the success of each key activity and the benefits the charity has brought to those
groups of people that it is set up to help. The review also helps the Council ensure the charity's aims,
objectives and activities remained focused on its stated purposes.
All Council members give their time voluntarily and receive no benefits from the charity. Any expenses
reclaimed from the charity are set out in note 6 to the accounts.
The charity's main activities and who it tries to help are described above. All its charitable activities
focus on glaucoma and are undertaken to further the International Glaucoma Association’s charitable
purposes for the public benefit.
The Council has referred to the guidance contained in the Charity Commission's general guidance on
public benefit when reviewing the charity's aims and objectives and in planning its future activities. In
particular, the Council considers how planned activities will contribute to the aims and objectives that
have been set.
The Association makes grants for research into the nature, causes of, detection of, treatment and
prevalence of glaucoma. It does not and has never funded any animal based research.
Three research fellowships were provided by the Association through the Royal College of
Ophthalmologists and one through the United Kingdom and Eire Glaucoma Society. We have also
offered research funding via The College of Optometrists and The Royal College of Nurses. Professor
Phillip Bloom of the Western Ophthalmic Hospital has taken over from Mr Keith Barton as Chairman
of the IGA Research Grant Committee, Mr Barton (former Chairman of the Commitee) having been
elected as Chair of the Association at the Annual General Meeting in March 2012.
Investment Policy
Develop their Research and Education Grants programme by providing grants for projects
applying to the main objects of the Association.
9
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
Grant making policy
The Royal College of Ophthalmologists
The Royal College of Nursing
The UK & EIRE Glaucoma Society
The College of Optometrists
Process for awarding grants
Monitor & Control
Statement of Council of Management’s responsibilities
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
The Council of Management is responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable them to
ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee
Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as
amended). They are also responsible for safeguarding the assets of the charitable company and the
group and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The Council of Management (who are also directors of the International Glaucoma Association for the
purposes of company law) are responsible for preparing the report of the Council of Management and
the financial statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the Council of Management to prepare financial statements for each financial
year which give a true and fair view of the state of affairs of the charitable company and the group and
of the incoming resources and application of resources, including the income and expenditure, of the
charitable company and the group for that period. In preparing these financial statements, the Council
of Management is required to:
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in operation.
Each grant is advertised appropriately and formal applications are received by a given date after
which each college or society appoints a review panel annually and this panel is led by the chairman
of the IGA grants committee (a medical trustee). The applications are reviewed by the panel and
awards granted on merit although, if it is felt by the panel no application meets the required standard,
the option not to award any grants is available. During this process there is a strict conflict of interest
consideration and individual members of the panel may need to step down if a conflict exists.
Once an award is made the grant is paid on a schedule agreed at the beginning of the study and is
dependent on receiving regular reports of the progress, which is reviewed by an appropriately
qualified individual to ensure the study is progressing towards the original objective(s). The final
payment is dependent on receiving the completed report.
Annually the Council will allocate funding for research into glaucoma and decide how much will be
made available via various professional routes. In the financial year 2011/12 it was decided to allocate
funding in collaboration with:
10
The International Glaucoma Association Limited
For the year ended 31 July 2012
Report of the Council of Management
In so far as the Council of Management is aware:
Auditors
K Barton
Chair
Approved by the Council of Management on 15 November 2012 and signed on its behalf by
Sayer Vincent were re-appointed as the Association's auditors during the year and have expressed
their willingness to continue in that capacity.
there is no relevant audit information of which the charitable company’s auditors are unaware;
and
the members of the Council of Management have taken all steps that they ought to have taken to
make themselves aware of any relevant audit information and to establish that the auditors are
aware of that information.
The Council of Management is responsible for the maintenance and integrity of the corporate and
financial information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from legislation in
other jurisdictions.
Members of the Association guarantee to contribute an amount not exceeding £5 to the assets of the
Association in the event of winding up. The total number of such guarantees at 31 July 2012 was
1,122 (2011: 1,080). Members of the Council of Management are members of the charity but this
entitles them only to voting rights. Members of the Council of Management have no beneficial interest
in the charity.
11
W L Blake
Honorary Treasurer and Vice Chair
The past twelve months has seen our total income maintained at £923,143, only slightly lower than
the previous similar period of £936,160.
15 November 2012
During the year the Legacies receivable fell from £655,740 in 2010/11 to the end of year figure of
£559,963 for 2011/2012. There has however been an increase in income derived from individual
subscriptions and donations and also from corporate donors.
The decrease in the level of grants awarded of £175,970 has largely contributed to the reduction in
our expenditure from £1,345,924 in 2010/11 to £1,071,065 during 2011/12. There have been
increases in staff costs, in line with the Government cost of living index and internal staff changes,
and travel costs, partially attributable to the employment of the new regionally located business
development managers, but there have also been reductions in our general office costs and legal and
professional fees.
Banks have continued to pay low interests rates which has led to a decision to transfer £300,000 from
the bank to invest in a low risk portfolio through our investment managers. This has resulted in an end
of year market value of £2,564,000 compared with the previous year’s level of £2,169,000. The
resultant effect on our cash reserves has been a reduction to £871,000.
At the end of the financial year the level of our funds stood at £3,418,976 of which £1,407,103 are
restricted funds including the IGA Chair for Glaucoma and Allied Studies reserves of £1,188,759.
The International Glaucoma Association Limited
Treasurer's report
For the year ended 31 July 2012
Despite the continuing economic situation I am pleased to report that the Association has, once
again, remained in a sound financial position. This has enabled us to award grants of £258,969
towards glaucoma related research.
12
Independent auditors' report
To the members and Council of Management of
The International Glaucoma Association Limited
Respective responsibilities of the Council of Management and auditors
Scope of the audit of the financial statements
Opinion on financial statements
In our opinion the financial statements:
We have audited the financial statements of The International Glaucoma Association Limited for the
year ended 31 July 2012 which comprise the group statement of financial activities, group and charity
balance sheets and the related notes. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
This report is made solely to the charitable company's members and Council of Management as a
body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the
Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that
we might state to the charitable parent company's members and Council of Management those
matters we are required to state to them in an auditors' report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the charitable company's members and Council of Management as a body,
for our audit work, for this report, or for the opinions we have formed.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the Companies Act 2006, the Charities and Trustee
Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland)
Regulations 2006 (as amended).
As explained more fully in the statement of Council of Management’s responsibilities set out in the
report of the Council of Management, the Council of Management (whose members are also the
directors of the charitable company for the purposes of company law) is responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view.
We have been appointed as auditors under section 44(1)(c) of the Charities and Trustee Investment
(Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations
made under those Acts.
Our responsibility is to audit and express an opinion on the financial statements in accordance with
applicable law and International Standards on Auditing (UK and Ireland). Those standards require us
to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
An audit involves obtaining evidence about the amounts and disclosures in the financial statements
sufficient to give reasonable assurance that the financial statements are free from material
misstatement, whether caused by fraud or error. This includes an assessment of: whether the
accounting policies are appropriate to the group’s and the parent charitable company’s circumstances
and have been consistently applied and adequately disclosed; the reasonableness of significant
accounting estimates made by the Council of Management and the overall presentation of the
financial statements. In addition, we read all the financial and non-financial information in the report of
the Council of Management to identify material inconsistencies with the audited financial statements.
If we become aware of any apparent material misstatements or inconsistencies we consider the
implications for our report.
give a true and fair view of the state of the group’s and the parent charitable company’s affairs
as at 31 July 2012 and of the group’s incoming resources and application of resources, including
the group’s income and expenditure, for the year then ended;
13
Independent auditors' report
To the members and Council of Management of
The International Glaucoma Association Limited
Opinion on other matter prescribed by the Companies Act 2006
Matters on which we are required to report by exception
certain disclosures of Council of Management remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Helen Elliott (Senior statutory auditor)
30 November 2012
for and on behalf of Sayer Vincent, Statutory Auditors
8 Angel Gate, City Road, LONDON EC1V 2SJ
Sayer Vincent is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
the parent charitable company has not kept proper and adequate accounting records or returns
adequate for our audit have not been received from branches not visited by us; or
In our opinion the information given in the report of the Council of Management for the financial year
for which the financial statements are prepared is consistent with the financial statements.
We have nothing to report in respect of the following matters where the Companies Act 2006 and the
Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our
opinion:
the parent charitable company’s financial statements are not in agreement with the accounting
records or returns; or
14
Consolidated statement of financial activities (incorporating an income and expenditure account)
2012 2011
Restricted Unrestricted Total Total
Note £ £ £ £
Incoming resources
Voluntary income 2 90,669 693,702 784,371 839,215
Activities for generating funds
Goods sold - 14,378 14,378 20,192
Investment income 3 48,592 41,579 90,171 61,525
Information, advice, support & education 4a - 6,402 6,402 2,675
Research 4b - - - 12,553
Other Income 4c - 27,821 27,821 -
Total incoming resources 139,261 783,882 923,143 936,160
Resources expended
Costs of generating funds:
Investment managers' costs 4,766 4,756 9,522 8,249
Costs of generating voluntary income - 91,827 91,827 85,251
Fundraising trading: cost of goods sold - 7,648 7,648 14,638
4,766 104,231 108,997 108,138
Charitable activities
Information, advice, support & education 26,368 595,343 621,711 732,891
Research 258,969 13,481 272,450 449,590
Governance costs 3,097 64,810 67,907 55,305
Total resources expended 5 293,200 777,865 1,071,065 1,345,924
6 (153,939) 6,017 (147,922) (409,764)
Gross transfers between funds 138,253 (138,253) - -
(15,686) (132,236) (147,922) (409,764)
Realised gains/(losses) on investment assets 11 (7,905) (6,052) (13,957) 34,078
Net expenditure for the year (23,591) (138,288) (161,879) (375,686)
11 37,976 34,321 72,297 148,681
Net movement in funds 14,385 (103,967) (89,582) (227,005)
Reconciliation of funds
Total funds brought forward 1,392,718 2,115,840 3,508,558 3,735,563
Total funds carried forward 1,407,103 2,011,873 3,418,976 3,508,558
Unrealised gains on investment assets
The International Glaucoma Association Limited
For the year ended 31 July 2012
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than
those stated above. Movements in funds are disclosed in Note 17 to the financial statements.
Net (outgoing)/incoming resources before
transfers
Incoming resources from generated funds
Incoming resources from charitable activities
Net outgoing resources before other recognised
gains and losses
15
Balance sheets
2012 2011 2012 2011
Note £ £ £ £
Fixed assets
Tangible fixed assets 10 16,514 26,288 16,514 26,288
Investments 11 2,563,635 2,169,713 1,320,461 952,665
Total fixed assets 2,580,149 2,196,001 1,336,975 978,953
Current assets
Stock 12 12,091 12,011 12,091 12,011
Debtors 13 467,733 428,729 451,377 419,336
Cash at bank and in hand 871,215 1,390,658 855,577 1,374,383
1,351,039 1,831,398 1,319,045 1,805,730
Liabilities
Creditors: amounts due within one year 14 499,546 503,538 413,137 416,724
Net current assets 851,493 1,327,860 905,908 1,389,006
Total assets less current liabilities 3,431,642 3,523,861 2,242,883 2,367,959
15 12,666 15,303 12,666 15,303
Net assets 16 3,418,976 3,508,558 2,230,217 2,352,656
Funds 17
Restricted funds 1,407,103 1,392,718 218,344 236,816
Unrestricted funds
Revaluation reserve 81,230 - 81,230 -
Designated funds 30,000 30,000 30,000 30,000
General funds 1,900,643 2,085,840 1,900,643 2,085,840
Total funds 3,418,976 3,508,558 2,230,217 2,352,656
W L Blake - Honorary Treasurer
Approved by the Council of Management on 15 November 2012 and signed on its behalf by
The AssociationThe Group
Creditors: amounts falling due after
more than one year
The International Glaucoma Association Limited
As at 31 July 2012
16
Notes to the financial statements
1. Accounting policies
a)
b)
c)
Investment income is accounted for on an accruals basis.
d)
e)
f)
g)
h) Resources expended are recognised in the period in which they are incurred. Resources
expended include attributable VAT which cannot be recovered.
These financial statements consolidate the results of The Fund for the IGA Chair of Ophthalmology
for Glaucoma and Allied Studies on a line by line basis. Transactions and balances between the
charitable company and its subsidiary have been eliminated from the consolidated financial
statements. Balances between the two organisations are disclosed in the notes of the charitable
company's balance sheet. A separate statement of financial activities, or income and expenditure
account, for the charitable company itself is not presented because the charitable company has
taken advantage of the exemptions afforded by section 408 of the Companies Act 2006 and
paragraph 397 of SORP 2005.
The financial statements have been prepared under the historical cost convention, as modified by
the revaluation of fixed asset investments, and in accordance with applicable accounting standards
and the Companies Act 2006. They follow the recommendations in the Statement of
Recommended Practice, Accounting and Reporting by Charities.
Voluntary income received by way of subscriptions, donations and gifts is included in full in the
statement of financial activities when receivable.
Sales income represents invoiced sales of goods, excluding VAT where appropriate and is credited
to the statement of financial activities on an accruals basis.
Where such information about the aims, objectives and projects of the charity is also provided to
potential donors, activity costs are apportioned between fundraising and charitable activities on the
basis of area of literature occupied by each activity.
Income from legacies is accounted for on a receivable basis, recognised when entitlement to the
income has been established and the amounts ascertained with reasonable certainty.
Unrestricted funds are donations and other incoming resources received or generated for the
charitable purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure
which meets these criteria is charged to the fund.
The International Glaucoma Association Limited
For the year ended 31 July 2012
Designated funds are unrestricted funds earmarked by the Council of Management for particular
purposes.
Where information about the aims, objectives and projects of the charity is provided to potential
beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
Costs of generating funds relate to the costs incurred by the charitable company in inducing third
parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising
purpose.
17
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
1. Accounting policies (continued)
Cost of generating funds 11%
Information, advice, support & education 79%
Research 2%
Governance costs 8%
i)
j)
k)
l)
m)
n)
o)
Fixtures, fittings and equipment 20%
Computers 33-50%
p) Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a
first in first out basis and includes transport and handling costs. Net realisable value is the price at
which stocks can be sold in the normal course of business after allowing for the costs of realisation.
Provision is made where necessary for obsolete, slow moving and defective stocks.
Investments held as fixed assets are revalued at market value at the balance sheet date. The gain
or loss for the period is taken to the statement of financial activities.
Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are
allocated to activities on the basis of the use of the related assets in those activities. Assets are
reviewed for impairment if circumstances indicate their carrying value may exceed their net
realisable value and value in use.
Assets purchased under finance leases are capitalised as fixed assets. Obligations under such
agreements are included in creditors. The difference between the capitalised cost and the total
obligation under the lease represents the finance charge. Finance charges are written off to the
statement of financial activities over the period of the lease using the sum of digits method.
Resources expended are allocated to the particular activity where the cost relates directly to that
activity. However, the cost of overall direction and administration of each activity, comprising the
salary and overhead costs of the central function, is apportioned on the following basis which is an
estimate, based on staff time, of the amount attributable to each activity.
Grants awarded are charged to the Statement of Financial Activities in the year in which they are
awarded except for the Charity Chair Fund where annual payments are subject to receipt of reports
and a full years grant payment only is included in these accounts.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into
sterling at the average rate of exchange for the year.
Rentals payable under operating leases, where substantially all the risks and rewards of ownership
remain with the lessor, are charged to the Statement of Financial Activities on a straight line basis
over the minimum lease term.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated
residual value over its expected useful life. The depreciation rates in use are as follows:
Governance costs are the costs associated with the governance arrangements of the charity,
including constitutional and statutory requirements and costs associated with the strategic
management of the charity’s activities.
18
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
1. Accounting policies (continued)
q)
2. Voluntary income
2012 2011
Restricted Total Total
£ £ £ £
Donations and subscriptions
Individuals 20,569 169,936 190,505 163,390
Corporate donors - 33,903 33,903 20,085
20,569 203,839 224,408 183,475
Legacies 70,100 489,863 559,963 655,740
Total 90,669 693,702 784,371 839,215
3. Investment income
2012 2011
Restricted Total Total
£ £ £ £
Interest income - 7,857 7,857 9,411
Dividends from UK companies 35,806 21,040 56,846 41,900
Dividends from overseas companies 12,786 12,682 25,468 10,214
Total 48,592 41,579 90,171 61,525
4. Incoming resources from charitable activities2012 2011
a) Restricted Total Total
£ £ £ £
- 3,432 3,432 2,675
Professional donations - 2,970 2,970 -
- 6,402 6,402 2,675
b) Research 2012 2011
Restricted Total Total
£ £ £ £
Research appeal - - - 12,553
c) Other Income 2012 2011
Restricted Total Total
£ £ £ £
Rental Income 1,167 1,167 -
Events & Agency Services 3,600 3,600 -
Miscellaneous - 23,054 23,054 -
- 27,821 27,821 -
Unrestricted
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the charity in an independently administered fund. Contributions payable
are charged as an expense in the statement of financial activities.
Unrestricted
Professional membership subscriptions
Information, advice, support & education
Unrestricted
Unrestricted
Unrestricted
19
Notes to the financial statements
5. Total resources expended
Cost of
generating
funds Research
Governance
Costs
Support
Costs 2012 Total 2011 Total
£ £ £ £ £ £ £
Staff costs (Note 7) 34,515 254,165 7,325 25,016 125,173 446,194 419,756
Other staff costs - 13,871 - - 17,876 31,747 49,044
Travel costs - 28,035 - 4,040 473 32,548 26,081
Advertising 700 15,767 - - - 16,467 21,215
Telephone - - - - 7,297 7,297 7,153
Printing, postage, artwork and stationery 2,532 57,657 - 619 7,648 68,456 66,577
Office costs - 1,192 - - 63,852 65,044 87,419
AGM and Council expenses - - - 1,276 - 1,276 8,569
Legal and professional 2,875 24,784 - - 16,194 43,853 62,554
Bank charges and interest - - - - 5,272 5,272 5,221
Audit and accountancy - - - 15,932 - 15,932 51,801
Grants payable (Note 8) - - 258,969 - - 258,969 434,939
Depreciation - - - - 14,569 14,569 14,406
Conference and exhibition - 12,629 - - - 12,629 9,661
Legacy costs 22,135 - - - - 22,135 12,158
Fundraising costs 62 - - - - 62 227
Irrecoverable VAT - - - - 11,445 11,445 42,116
Sundry - - - - - - 4,140
Goods purchased 7,648 - - - - 7,648 14,638
Investment management costs 9,522 - - - - 9,522 8,249
Total resources expended 79,989 408,100 266,294 46,883 269,799 1,071,065 1,345,924
Support costs 29,008 213,611 6,156 21,024 (269,799) - -
Total resources expended 108,997 621,711 272,450 67,907 - 1,071,065 1,345,924
The International Glaucoma Association Limited
For the year ended 31 July 2012
Information,
advice,
support &
education
20
Notes to the financial statements
6.
This is stated after charging/crediting:
2012 2011
£ £
Depreciation charge for the year - owned assets 9,813 9,815
Depreciation charge for the year - leased assets 4,756 4,591
Profit on disposal of fixed assets 2,081 -
Interest Payable on:
lease finance charges 7,299 5,705
Operating lease rentals:
property 22,631 29,315
equipment 1,700 8,922
Auditors' remuneration:
audit 15,000 11,000
Other services - tax 425 -
other services - accountancy 4,892 29,000
Council of Management's remuneration Nil NilCouncil of Management's expenses 4,049 4,874
7. Staff costs and numbers
Staff costs were as follows:
2012 2011
£ £
Salaries and wages 400,382 377,000
Social security costs 40,160 35,635
Pension contributions 5,652 7,121
446,194 419,756
2012 2011
No. No.
£90,000 - £100,000 1 1
No pension contributions were paid on behalf of the above employee.
The International Glaucoma Association Limited
For the year ended 31 July 2012
Council of Management's expenses represent the travel and subsistence costs of 6 (2011: 4) members.
The number of employees whose emoluments amounted to over £60,000 in the year was as follows;
Net (outgoing)/incoming resources
21
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
7. Staff costs and numbers (continued)
2012 2011
No. No.
Cost of generating funds 0.92 0.61
Provision of information and education 6.11 6.57
Research 0.08 0.06
Governance 0.26 0.14
Support costs 3.58 4.81
10.95 12.19
8. Grants payable
2012 2011
£ £
University College London's Institute of Ophthalmology 111,386 111,039
Moorfields Eye Hospital NHS Foundation Trust 50,000 82,000
Institute of Ophthalmology - 26,000
Queens Medical Centre Nottingham 54,900 3,570
City University London - 11,216
Anglia Ruskin University 25,000 -
University of Liverpool - 75,000
University of Dublin - 11,614
University of Manchester 19,183 12,000
Cardiff University - 100,000
Other small grants (1,500) 2,500
258,969 434,939
9. Taxation
The group is exempt from corporation tax and income tax as all its income is charitable and is applied for
charitable purposes.
All of the above grants were made in accordance with the conditions of the research committee of The
International Glaucoma Association. The grants have been made for research into glaucoma and allied
conditions.
The average weekly number of employees (full-time equivalent) during the year was as follows:
22
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
10. Tangible fixed assets
Fixtures,
fittings and
equipment
Computer
equipment Total
£ £ £
Cost
At the start of the year 213,382 72,925 286,307
Additions in year 10,177 18 10,195
Disposals in year (9,000) - (9,000)
At the end of the year 214,559 72,943 287,502
Depreciation
At the start of the year 198,711 61,308 260,019
Charge for the year 6,006 8,563 14,569
Disposals in year (3,600) - (3,600)
At the end of the year 201,117 69,871 270,988
Net book valueAt the end of the year 13,442 3,072 16,514
At the start of the year 14,671 11,617 26,288
11. Investments
2012 2011 2012 2011
£ £ £ £
Market value at the start of the year 2,023,203 1,418,893 813,828 349,416
Additions at historic cost 694,116 1,079,014 537,595 518,250
Disposal proceeds (243,102) (657,463) (87,473) (108,238)
Realised (losses)/gains (13,957) 34,078 (6,052) 6,883
Unrealised gains 72,297 148,681 39,390 47,517
2,532,557 2,023,203 1,297,288 813,828
Cash held as part of portfolio 31,078 146,510 23,173 138,837
Market value at the end of the year 2,563,635 2,169,713 1,320,461 952,665
Historic cost at the end of the year 2,284,274 1,954,472 1,210,159 881,510
Included within fixtures, fittings and equipment are assets held under finance lease with a cost of £23,781 and
accumulated depreciation of £10,339 at 31 July 2012. The depreciation charge for the year on these assets
was £4,756.
Group and the Association
The AssociationThe Group
23
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
11. Investments (continued)
Investments comprise:
2012 2011 2012 2011
£ £ £ £
UK Government & Local Authority Stock 334,602 226,030 217,633 81,260
Shares listed in the London Stock Exchange 1,005,534 1,317,792 515,867 534,105
Unit trusts 681,769 115,540 336,261 71,138
UK fixed interest stocks 44,899 15,178 - -
Overseas Government Stock 168,712 80,552 67,367 -
Overseas equities 297,041 268,111 160,157 127,320
Cash 31,078 146,510 23,173 138,837
Investment in subsidiary undertakings - - 4 5
2,563,635 2,169,713 1,320,462 952,665
Investments representing over 5% by value of the portfolio comprise:
2012 2011 2012 2011
£ £ £ £
UK 2.5% Index linked stock 26/07/2016 197,179 190,788 80,210 46,018
Australia 4.75% 2016 67,368 - 67,368 -
M&G Investment Man Optimal income st 111,057 - - -
Royal Dutch Shell B Ord € .07 - - - 53,188
Veritas 62,145 - - -
Vodafone Group Ord $.1143 - - - 44,292
Capita Financial Managers - - - 42,992
M & G Securities Ltd - 155,523 - 50,106
GlaxoSmithKline ord GBP 0.25 66,083 112,598 - 51,218
Schroder Oriental Income Fund ORD GBP 0.01 60,103 - - -Cash - 146,510 - 138,837
12. Stock
2012 2011 2012 2011
£ £ £ £
Goods for resale 12,091 12,011 12,091 12,011
The Group
The AssociationThe Association
The Group The Association
The Association
The Group
24
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
13. Debtors
2012 2011 2012 2011
£ £ £ £
Trade debtors 8,997 10,215 1,906 10,215
Legacy debtors 389,197 374,326 389,197 374,326
Other debtors - 2,309 - -
VAT Debtor 9,046 - 9,046 -
Prepayments and accrued income 60,493 41,879 51,228 27,131
Amount due from subsidiary - - - 7,664
467,733 428,729 451,377 419,336
14. Creditors: amounts due within one year
The Group
2012 2011 2012 2011
£ £ £ £
Taxation and social security 13,313 11,698 13,313 11,698
Trade creditors 75,994 50,480 54,401 50,480
Other creditors 5,070 4,435 5,070 4,435
Accruals 399,010 430,752 334,194 343,938
VAT creditor - 1,581 - 1,581
Obligation under hire purchase and
6,159 4,592 6,159 4,592
499,546 503,538 413,137 416,724
15. Creditors: amounts due after one year
2012 2011 2012 2011
£ £ £ £
Obligation under hire purchase and
12,666 15,303 12,666 15,303
12,666 15,303 12,666 15,303
16. Analysis of net assets between funds
Revaluation
reserve
General
funds
Total
funds
£ £ £ £ £
Tangible fixed assets - - - 16,514 16,514
Investments 1,292,540 81,230 - 1,189,865 2,563,635
Net current assets 114,563 - 30,000 706,930 851,493
Creditors: amounts falling due after
more than one year - - - (12,666) (12,666)
1,407,103 81,230 30,000 1,900,643 3,418,976
finance lease agreements
The Group
The Association
finance lease agreements
The Association
The Group
Net assets at the end of the year
Designated
funds
Restricted
funds
The Association
25
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
17. Movements in funds
At the
start of
the year Transfers
At the end
of the year
£ £ £ £ £ £
Restricted funds:
1,155,902 59,976 (94,249) 25,002 42,128 1,188,759
1,275 - - - - 1,275
Income Fund 47,162 2,827 - 5,069 - 55,058
142,460 - (25,376) - - 117,084
22,000 - - - - 22,000
23,919 (992) - - 22,927
Research fund - 76,458 (172,583) - 96,125 -
Total restricted funds 1,392,718 139,261 (293,200) 30,071 138,253 1,407,103
Unrestricted funds:
Revaluation reserve - - - - 81,230 81,230
Designated funds:
Income fund 30,000 - - - - 30,000
Total designated funds 30,000 - - - 81,230 111,230
General funds 2,085,840 783,882 (777,865) 28,269 (219,483) 1,900,643
2,115,840 783,882 (777,865) 28,269 (138,253) 2,011,873
3,508,558 923,143 (1,071,065) 58,340 - 3,418,976
Purposes of restricted funds
Total funds
Incoming
resources
North East Fund
Other gains
and losses
Development of information
resources
Compliance Project Fund
The Fund For The IGA Chair
of Ophthalmology For
Glaucoma and Allied Studies
(Charity number 1123188)
Babies and Children Fund
(formerly Tadpoles)
Other gains
and losses
Outgoing
resources
The Fund For The IGA Chair of Ophthalmology For Glaucoma and Allied Studies (Charity number 1123188)
has been set up and the money transferred to it from The Chair of Ophthalmology at University College
London (UCL) in accordance to the Scheme dated 12 December 2007.
Total unrestricted funds
Babies and Children Fund (formerly Tadpoles Support Group) is a fund collected by Tadpoles parents for use
for the benefit of children with glaucoma and is to fund part of the booklet for the Babies & Children.
26
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
17. Movements in Funds (continued)
Purposes of restricted funds (continued)
Unrestricted funds
The revaluation reserve represents the unrealised gains on investments funded by general reserves.
Purposes of designated funds
Income fund
Transfers between funds
18. Operating lease commitments
2012 2011 2012 2011
£ £ £ £
Within one year 3,468 - - -Within 2 - 5 Years 1,525 5,468 22,798 22,798
The research funding represents donations received specifically as a contribution towards the grants paid out
to those carrying out research into glaucoma and allied conditions.
Development of information resources is income received from a variety of sources to prepare handbooks on
glaucoma and allied conditions, and to update The International Glaucoma Association website.
Income Fund has been set up as a fund to generate income which will be used to develop an income for the
Association which will be used for awareness, research and educational programmes.
North East Fund was established through the receipt of a legacy restricted to expenditure in the North East
region.
During the year The International Glaucoma Association paid costs on behalf of the Fund for the IGA Chair of
Ophthalmology for Glaucoma and Allied Studies.
Compliance Project funding is income received from Merck Sharp & Dohme and Pfizer to supply every prime
ophthalmic department in the UK with an educational tool to assist healthcare professionals.
The charity had annual commitments at the year end under operating leases expiring as follows:
See restricted fund above.
Equipment & motor
vehicle Property
27
Notes to the financial statements
The International Glaucoma Association Limited
For the year ended 31 July 2012
19. Subsidiary undertakings
2012 2011
£ £
Incoming resources
Incoming resources from generated funds
Investment income 45,765 36,790
Voluntary income 56,339 62,501
Total incoming resources 102,104 99,291
Resources expended
Costs of generating funds
Investment management costs 4,766 5,102
Grants payable 86,386 86,039
Governance costs 3,097 3,004
Total resources expended 94,249 94,145
7,855 5,146
Other gains and losses
Net gain on investment assets 25,002 128,359
Net movement in funds 32,857 133,505
Reconciliation of funds
Total funds brought forward 1,155,902 1,022,397
Funds at the end of the year 1,188,759 1,155,902
Total assets 1,275,168 1,250,380
Total liabilities (86,409) (94,478)
1,188,759 1,155,902
20. Related Parties
Michael Miller and Keith Barton are Council members of IGA. They are also employees of Moorfields Eye
Hospital NHS Foundation Trust which was awarded £50,000 during the year. David Wright is the chair of
trustees of Blindcare, from whom IGA received £2,000 of income during the year.
Summary of Statement of Financial Activities
Net incoming resources before other
recognised gains and losses
The wholly owned subsidiary, Fund for the IGA Chair of Ophthalmology for Glaucoma and Allied Studies, is a
charity number 1123188. The objects the charity, as stated in its scheme dated 12 December 2007, are to
advance education about, including research into, glaucoma and allied studies. A summary of its results for the
year is show below.
Glaucoma UK Ltd, Glaucoma International Ltd, Glaucoma Europe Ltd, Glaucoma Association Ltd are all
dormant. Medical Concordance Ltd was dissolved on 29 May 2012
For the year ended 31 July 2012
28
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