I.O.O. LIMITED

Registered charity 1104744 · accounts filings on the Charity Commission register · also known as IOO LIMITED · filing overdue (register status)

PROVISION OF EYE CARE WITH SPECIALIST CLINICS; SPECTACLE DISPENSING; CONTACT LENS FITTING; EDUCATION FOR THE PROFESSION; RESEARCH

Causes: Education/training · The Advancement Of Health Or Saving Of Lives · website · Get email alerts

Latest income

£4.4m

Latest spending

£567k

Registered

2004

Accounts read

FY2023

Financial health, per its FY2023 accounts

The accounts state that unrestricted funds were in deficit by £605,589 at the balance sheet date, and the auditors identified a material uncertainty regarding the charity's ability to continue as a going concern. However, the trustees consider the charity viable following the sale of its freehold property and the securing of a rent-free lease, with the charity currently supported by permanent endowment income and interest-free trustee loans.

Automated summary of the FY2023 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Reserves position: below the charity's own stated reserves policy (held: £-606k; policy: between 2- and 6-months’ turnover)

“Free reserves were in deficit at the balance sheet date by £619,446 (2022: £675,414).”

Per its FY2023 accounts as filed with the Charity Commission.

Going concern: material uncertainty disclosed

“We draw attention to Note 1 in the financial statements, which indicates that the charitable company incurred a deficit of £182,372 on unrestricted funds and, as of the balance sheet date, unrestricted funds were in deficit by £605,589. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the charitable company’s ability to continue as a going concern.” — page 10

Per its FY2023 accounts as filed with the Charity Commission.

Related-party transaction: Loans from trustees Dr M. Wolffe, Mr A. Gasson and Miss J. Morris amounting to £201,345 outstanding at year end, with further loans of £154,336 received during the year.

“As at 31 December 2023 there were loans outstanding due to three trustees, Dr M. Wolffe, Mr A. Gasson and Miss J. Morris, amounting to £201,345. During the year the charity received further loans from these trustees totalling £154,336.” — page 32

“During the year the charity charged its subsidiary I.O.O. Sales Limited £9,000 (2022: £9,600) for rental of office space, and £17,698 (2022: £31,033) for staff, office and management recharges.” — page 32

Per its FY2023 accounts as filed with the Charity Commission.

Related-party transaction: Charity charged subsidiary I.O.O. Sales Limited £9,000 for rental of office space and £17,698 for staff, office and management recharges.

“As at 31 December 2023 there were loans outstanding due to three trustees, Dr M. Wolffe, Mr A. Gasson and Miss J. Morris, amounting to £201,345. During the year the charity received further loans from these trustees totalling £154,336.” — page 32

“During the year the charity charged its subsidiary I.O.O. Sales Limited £9,000 (2022: £9,600) for rental of office space, and £17,698 (2022: £31,033) for staff, office and management recharges.” — page 32

Per its FY2023 accounts as filed with the Charity Commission.

Related-party transaction: Subsidiary I.O.O. Sales Limited charged the charity £3,389 in PDQ charges.

“As at 31 December 2023 there were loans outstanding due to three trustees, Dr M. Wolffe, Mr A. Gasson and Miss J. Morris, amounting to £201,345. During the year the charity received further loans from these trustees totalling £154,336.” — page 32

“During the year the charity charged its subsidiary I.O.O. Sales Limited £9,000 (2022: £9,600) for rental of office space, and £17,698 (2022: £31,033) for staff, office and management recharges.” — page 32

Per its FY2023 accounts as filed with the Charity Commission.

Trading subsidiary: I.O.O. Sales Ltd

“IOO (Sales) Ltd is a wholly owned subsidiary of I.O.O. Limited. The principal activity of the company is that of marketing optometric goods and providing associated services.” — page 5

Per its FY2023 accounts as filed with the Charity Commission.

Accounts audited by Lindeyer Francis Ferguson Limited. Discloses 5 of 6 completeness components.

Year-over-year changes

Going concern: no going-concern doubt (FY2022) → material uncertainty (FY2023).

Comparing this charity’s FY2022 and FY2023 accounts as analysed by this site.

Structured financials (annual return, FY ending 31/12/2023)

Total income

£4.4m

Total spending

£567k

Reserves (reported)

£0

Employees

14

Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Per its annual return, largest income source: Other (91% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.

Per its annual return, cost of raising funds: 0.0% of total income — below the median for charities its size (5.2%) (benchmarks).

Trustees · trustee networks

DR Michael Wolffechair · trustee of 2 other charities
Andrew Gasson
Jayshree Rajdev Varia
Judith Anne Morris · trustee of 1 other charity
Professor Nigel Andrew Simon Barnard
Rosemary Eleanor Bailey · trustee of 1 other charity

Trustee list from the Charity Commission register (current, not historical).

Operates in: Throughout England

Income and spending

Financial year end	Income	Spending
31/12/2024	—	—
31/12/2023	£4.4m	£567k
31/12/2022	£408k	£510k
31/12/2021	£352k	£452k
31/12/2020	£312k	£438k

Common questions

Is I.O.O. LIMITED financially healthy?

Per its FY2023 accounts: The accounts state that unrestricted funds were in deficit by £605,589 at the balance sheet date, and the auditors identified a material uncertainty regarding the charity's ability to continue as a going concern. However, the trustees consider the charity viable following the sale of its freehold property and the securing of a rent-free lease, with the charity currently supported by permanent endowment income and interest-free trustee loans. Its FY2023 accounts were audited by Lindeyer Francis Ferguson Limited.

Government & lottery funding

Grants to this charity published as open data by government and lottery funders (360Giving).

Funder	Date	Amount	Purpose
The National Lottery Community Fund	19/11/2014	£4k	Disabled access for public

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

Funder	Similar charities funded	Amount to them
SIR SAMUEL SCOTT OF YEWS TRUST	2	£25k
PAYNE GALLWEY 1989 CHARITABLE TRUST	2	£20k
FRAZER TRUST	2	£10k
THE DIXIE ROSE FINDLAY CHARITABLE TRUST	2	£9k
MISSES BARRIE CHARITABLE TRUST	2	£7k
KUSUMA TRUST UK	1	£2.6m
THE SCHRODER FOUNDATION	1	£500k
THE THOMPSON FAMILY CHARITABLE TRUST	1	£360k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with THE FRIENDS OF MOORFIELDS EYE HOSPITAL.

THE FRIENDS OF MOORFIELDS EYE HOSPITAL income £1.0m
MOORFIELDS EYE CHARITY income £22.2m
SIGHT RESEARCH UK income £871k
THE COLLEGE OF OPTOMETRISTS income £10.7m
INFOCUS CHARITY income £10.6m
Onesight Essilorluxottica Foundation income £135k

Side by side with its peers

Charity	Income	Top pay band	Staff >£60k	Reserves vs policy	Fundraising cost	Going concern
I.O.O. LIMITED	£4.4m	—	0	below	—	material uncertainty
THE FRIENDS OF MOORFIELDS EYE HOSPITAL FY2025	£1.0m	more than £60,000	1	unclear	—	no doubt
MOORFIELDS EYE CHARITY FY2026	£22.2m	£135,018	—	unclear	—	no doubt
SIGHT RESEARCH UK FY2025	£871k	—	0	below	—	no doubt
THE COLLEGE OF OPTOMETRISTS FY2025	£10.7m	—	—	unclear	—	no doubt
INFOCUS CHARITY FY2025	£10.6m	—	—	unclear	—	no doubt

Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.