Company registration number: 03039665 Charity registration number: 1045927 Boots Charitable Trust Annual report and financial statements for the year ended 31 August 2024
Boots Charitable Trust Contents strategic report Trustees. and Directors. report statement of Trustees. responsibilitles Independent auditor's report statement of financlal activlties (Incorporating the Income and expandlture account) Statement of reconciliation of funds Balance sheet Notes to the financlal statements 10
Boots Charitable Trust Strategic report for the year ended 31 August 2024 Tha Truslaes, In preparfng thls Slrategic rewrl. have comped with s414c ofthe Companies Acl 2006. In accordance wilh Section 60 01 the C(Nnpanies Acl 2006. Boots Charilable Tmsi fthe Trust'l is exempl from Ihe requlremenls of Ihal Act lo Include "Llmlled" as pèrt of its name. The Twsle88 are also Ihe Dlrectors ol the Trust lor the purposes ol the Companies Act 2C(hS. ThrouglvAJt the financial siat8menls, they wlll be referd to as Trustees. Prlnelpal aetlvllles The prfnclpal ocllvlly of the Trusl is Ihal ol a ch8rilatAe tmsl. 11 is wholly lunded by Boots UK Limited. The Trust proeS chgrflable fLtnds to registered charilies and voluntary organlsatlons working in the areas ol health, lilelong leaming. community devèlopment and social care. On 1 Novtsmber 2023. Ihe Trust expanded il's reach lo support projecls across the UK as well Ès In the Nottinghamshire area. Obleetlvès and aetlvltles for the publlc bontsnt In selling the Trust's objectives and planniThJ ils aclivitiés, the Trustees have given due considèralion lo Iheif duly in seclions 4 and 17 of Ihe Charilies Act 2011 to have <Jue regord lo publSc benefil guldance publishèd by the Charily Commission. The Tws¢eès consider Ihe inlormallon, which Is ¢onlained In IhSs report in relation lo the Trust's objecbves. aclivilies and aehi8v8mènts. does demonstrate Ihe b8nofil lo Ihe public Ihat arises. Busln•ss rèvl•w, aehl8v8m8nl8 and perforrnan¢• The Trusl achievos Ils obSectives by prov¢dlng financial su0t1 to registered charilies voluntary organlsalions working In the 8ro8s of heallh. lifelong learnlng. communlly developmenl and social care, In the County of Nollinghamshire and throughwl thè UK. Applicalions lor funding are 8ss&ssed wllh pariicular regard to evidence of ne$d. By lunding wojecls with clearly defined benefits. the Trust Improves Ihe Ilves ol people living Sn tho UK who ara sufferSng 8s B result of financlal dlsadvanlage, sodal Isclallon. heallh oredu¢allon81 Inequalllles or specAfic bs8ues In Ih8lr k81 communilles. Durlng the year the TTusléos mode grants lo charilles al v(Aunl8ry oroanlsatlons In Ilne wlth lh8 Trust's Glvlng Pollcy focuslng on four key araas of health, Illelong learnlng, communlly devglopmenl and soclal care. H¥olth Communlly heallhcaro Includes cLJmmunlty healthcare saCeS. home care. conllnulng car8. 0116r care support for sufferers of m$dlcal condlllons and peop18 wlh dlsabllilles. Heallh educalion and prevenlion Includes womoting knovAedg8 and awareness of specific dise8ses OT medlcal condlliong. Llf8long 18arnlng Helping people of any age to achleve Iheir educallonal polenlial through supplementary schoollng. lileracy and numoracy projects. communlly educallon, vocallonallreslarl Èducatlon lor the unemployed or gllèmallv& educallon for excluded sch(xA puplls. Communlly developmènl H8lplng groups lo organise and respond to wcljlfjms and needs In ihok Commun18$ or nelworks. Thls Includos oroanlsallons such 88 coun¢lls for voluntary sèNl¢gs Bnd self-help groups. 4. Soclal ¢are Personal sodal servlces, Ineludlng provldlng asslslance lo Indlvlduals or famllles to overcome stt181 deprfvollon. {Indudlng those who aro homelass, disabled persons and thèir ¢8r¢rs, lone parents. childcare groupy and other famlly support groups). S(Klal prevènllve schemes. Includlng acllvilles lo hèlp prevent crfma, dropplng oul of educallon 8nd general delinquenGy. The provlsion ol soclBI care outreach work and soclal health and safely 8w&reness schemes. Communlly soclal acllvitles. Including acllvilies Io Promole soci81 eng8gomenl lor vulnerable people, miligallng 8galnsl Isolallon and lonellness. In Ihe year lo 31 Augusl 2024, ihg Trust recelved 519 applicallons from etharflles and voluntary organlsallons 12023.. 1141. Grants lo Ihe v8lu8 of £397.637 wer8 aulhorSsed during the year {2023'. £250,OCH)l and were made lo 48 {2023'. 28) beneficiaries. Malor oranls of £10.QOO durfng the year were maile lo 20 ganIsalIcs. The number of awards m8d8 8nd the toial experKlilure durlng Ihe year ended 31 August 20241$ $ummBrlsed by category a5 follows.. Cat4gory Nts.of aw#rd$ ExpandSture H68llh 18 144,872 Soclal care 15 132,827 Llfelong leamlng Community development 48,249 71,689 Total 48 397.637
Boots Charitable Trust strategic report (continued) for the year ended 31 August 2024 Buslnèss revlew, achlévements and pèrfom)ance {continuèdl Th8 year lo 31 August 2023 Is summarised by.. Category No.of awards Expèndlture Heallh 54,427 Soclal care 89,424 Lifelong lèaTnlng Communily development Total 45,489 60,660 28 250,000 Prlnclpal rlsks and unc8rtalntle8 Thg Trustees have revlewed the straleglc, operalknal and Iwslness rfsks whl¢h the Twst laces 8nd hava conllrmed th81 there are 8ufflclenl controls lo mlllgale the significant risks. The Trustees conslder that Ihts prlnclpal risks and unc8rlakntles that face the Trusl during y8ar are as lol¢)w8'. MaGroe¢onomlc 8ndpoll¢lco1 envlronmonl, Includlng cosl of Ilvlng crlsls Risk The impact ol the curienl global cosl pressures h88 resulled in high inllatkn rates In Ihe Unlted Kingth)m 8nd globally. This has b9en axacerbaled by Ihe ongolno confllcl bglw6en Russla and Ukralne. These faclors have conlribuled io a o)st ol Ilving crlsis wlhSn Ihe United Klngdom whlch could see an Inu8ase in application5 to the Trust for donations. An irnpa¢l may also b8 seen on Ihe Tvusl's 8billly to secure fundlng from Boots UK Llmiled. Milig81ion The cost of lIng Lylsls has not caused a 8lgnlfi¢8nl Impacl on Twst lo dale and Bools UK Llmlled ha$ confirmed fundlng lor the year endlng 31 Auousl 2025. Insufflelent funds Risk Insufficlenl lunds ara recelved lo enable Ihe Tw8110 8th18ve113 31at8d otyecllves. AliligBllon The Tru81 Is vtholly lunded by Boots UK Llmlled. a relaled party wllhln the Walgreer¢s Bools Alllance. Inc. Group. The award Is agreed prfor lo the cornmèri¢èmenl of the fin8ncl81 year. Funds are dlvlded equally f alkncatlon lo meetlng hekl In tho year and 8xp&ndllure against allocallon Is monitored closely during and al th& conclusion of èach meeting. Inoorrèct books and rècords Rlsk The books 8nd records ofthe Trust are not properfy malnlalned. Mlllg8llon The books and recor<ls are main18ined by a fu15y qu81ifi8d mgmber of a prolgssbonal accountlng tN)dy and revlew8d annually. Out of poll¢y commllm8nl$ Rlsk Commllmenls ar8 mode whl¢h do not fall wlhin the staled alms ol the Trust. Miligalion The Trust operates a rigorous process ol short-llsling qu81ifwng appllcalK)ns 898Snsl Ihe Twust's Glving Cdteria lo consldgrallon by the Truslees and tho Issuance of a grant. The Strategic report was approved by the Board and slgn8d on its beh811 by.. J Moffat Trustee and Dlreclor 25 November 2024
Boots Charitable Trust Trustees. and Directors. report for the year ended 31 August 2024 The Trustees present thelr Annual Tiuslees, and Directors. p(l on the affairs of Boots Chariiable Trust I'lhe Trust'l. vA)ich incorpor81és the Slrateglc Report on pages 1~2. logelher with the financial slatemen15 and Audilorfs report for Ihe year ended 31 Augusl 2024. The financlal slal8menls have been prepared In accNdance with the aCntu)g W>IleS sel out In Nole 1 to the finanal slat6mènts and comply wilh the Charily's Trust Deed, the Charities Act 2011 and Aeeounting and Reporting by Charities.. Sialemerbl of Recommended Pia¢llcè ISORP second edlllon 20191 applicab18 to chadlies weparirwJ thelr finani¥al slatemenls in acrdanC wilh Ihe FinancAal Reporting Standard applicable In Ihe UK and Republic ol Ireland IFRS 1021. Professlonal advls•rs Auditor Ddoille LLP, Slalulory Audil(*. Abbots HJS8, 189Abb6y Street. ReadiThJ. RG138D, United Kingdom Bankers Nallonal Westmlnsler Bank. 3 Thurfand Str881. Nollingham. NG1 3DT Reglslered offlce & prlnclpal office 1 Thane Road West, Noltlngham. NG2 3AA Company regislrallon number 0303966S Charity reglslralbon numbèr 1045927 Structur•, governance and managament The Trusl Is a Ilmiled Company wllhoul share capilal, Ilmlled by guaranlee and reglsltrred Sn England and W8las. Th& Ilablllly of a member th& avenl of tho Trust belng wound up whllsl a member. or wthln on8 year of ceasing to be a metnber, Is nol to exceed £1. Th& Trust Is registered wllh Ihe Charfly Comrnls81on 8nd musl comply with the Companles Acl 2CM)6 and Charities Act 2011. The Trust Is governed by118 Memorandum and Artld8s olAssodallon vknlch wovlde for a minsmum o(3 Trust Io o maxlmLFm 0120 Tw8l¢as. The Ch8lr of Trustees together Ihe Company Seuetary are rtrsp0nslb lor the indudkjn of ony new Trustees. Twsto9 InduclSon Involvtss ralslng awarene8s ol Trustees to their dulles and iesponsibillties under bolh the Charflies Act 2011 8nd Ihe Companles Act 2006, to emerglng regulatory 188ues as well as an Introduction lo the govemlng documents of the Trusl 8nd the Internal policies adopled. Naw Trustees recelvo an Inducllon Pack In whl¢h aoples ol th8 followlng are Included.. the Trusl's lalesl Annual report and accounts; the Trust's internal goveming documents., the Trusl'$ Memorandum and Artlcles OfAsS&8I1On.' and the Charlly Commlsskn) publlcalion3'Th8 EssenltBI Trusl8e.' Wh81 You Naed to Knovl Ihe Charlty Govemance Code. When appioprf8tg, Trustees recelv8 regular Charlly Comml88kn updales and Inlorrnallon alx)ut bssues fadng the voluntary seclor locally. Trustees are appolnled folkjwlng recommervlallon by the Members ol th8 Commttlee and Ihe consenl ol Ihe prop03ed Indlvldu81. The Indlvldual shall than hold olflce unlll the next Annual General Meéllng whgre they may be rfrappjkntgd for an Inillal Ihree-year lorm. The Tru81ees recognlse that In re¢anl revlfjws of Charity law, the Cherity Comrnission has slopped shorl ol specifylng a maximum length ol Trustee tenure on the basls that all charitiès are different. However, in mor8 general terms, It suggèsts Ihat Trustee5 should not exceed three. Ihroo yaar appointments in posl. On8 Twslee, M5 L Moxlèy was appointed as a Trustee on 29 January 2015. Racoonising that Ms Moxley has served for Susl morè than nine ye8r$, 8nd In accordance wilh the Charfty Govemance Code lor Smaller Charities, tho Board ol Truslees confimis Its wlllinoness lo propose Ms L Moxley for re-e18elion Bnd the conlinuation in office for a further y88r. The Trustees consider it prudenl lo relain Ms Moxloy who has extenslv& knowledge and experien¢$ ol the Trust lor Ihtr pvrpose of continuity. Equally thera have been a number of Trvslee changes In 2022, 2023 and 2024 whlch h8s resulled in a natural r&inMgorats'on ol the Board's rAynpoll0n and skill sgt. The Trustees met five m@s It) the year lo agree the slrBtegic direction of the Trusl. to review applk8tlon$ and award grants. Grants 8r8 awarded In line wllh the Trust's Glving Policy. WhSlsl there Is maximum award, grants are gen8raUy awarded for £10,000 or lass. The Trust does not have any direcl employees. On a day to day basls. Ihe Trust is admlnlstered by membèrs wSlhin the Envlronmènlal, Soc181 and GovernBnce team ol Boots UK Limileil, and assodaled costs are bome by Bools UK Limlled. Golng concern The financlal slalemenis havo been prepared on a golng concem basls. In adopling the going concem basls. ihe Trustees have consldered Ihe charilablfj actlvilles and prin¢lpal rtsks and uncertainties as set out within the Strategk reFW)rl. The Trust had net Income of £39,863 {2023'. £nill in the cijrrent year. It has nel current asseis or £39.86312023.. £nS11 whlch is expected lo rtslum lo Enll in the year endlng 31 Augvsl 2025 as il is the Trustees. intention lo donate this post year end. The charity's aclivilies are oxpecled to continue inlo lh8 foreseeable future and lor at leasl 12 monlhs from approval of these fin8ndal statements. The donatlon from Boots UK Llmlled is anlicipaled lo conlinue lo b8 receN6d lor the foreseeable fulure. The annual donation lor th6 financlal year ending 31 Augusl 2024 was £437,500 (2023= £2,()0). For the year ending 31 August 2025. Bools UK Limi18d confimied funding of £5(M).IXXI prtor lo signing the financial sialemenls. All financlèl commilmenls are ogreed subsequenlly onc¢ Ihe Income is known and wll not exceed the Sncome re1ve. Funds are dlvl(5ed equally for allocation lo each meeting held Sn the year and expendiluie against allocalionls moniiored closely during and al Ihe condusion ol each meeting.
Boots Charitable Trust Trustees. and Directors. report (continued) for the year ended 31 August 2024 Going concern Icontlnued} Based on these facts, Ihe Trustees have 85sessed Ihal there is no material uncertainly SUTrounding Ihe going coneem of the Trust and they theTefore conslder that it will be a golng concern lor al leasl 12 months from the dalè ol approval of these financial statements. Futur8 developments In the forthcoming year the Trust will conllnue to concenlrAte on the fvnding priorities In the four ¢8legorfes ol heallh. lifelong leaming, communily development and $0¢181 care. The Trusf8 gwraphical rea(*13 the ofthe UK. Post balance sheet events There have been no sSgnificanl 8venls slnce the batancé sheet date lo the dale of thls fèFW)rt thal shId change Ihe financ181 pèrformance, pt)sltlon and going concern ¢oncluslons reported wilhln these finanLyal statements. Trustees Thts lallowin9 servad as Trustees (Juring Ihe year arvj lo the dale of this roprxt: L Moxley B Shah J Moffal M Bfjnford P ThakraT S Buchanan L Reynolds lappolnled.. 10 Oclober 2024) Ireslgned.. 10 October 20241 Ir¢slgned.' 5 June 20241 Remuneratlon of Trustees The Trustees recelved no remunerallon for Ihelr servlces durfng tha year12023- £nil). Tran$actlons wlth related partlés Delalls of 1ran8oellons wllh Telaled partles are Sel tyjl In note 9 to Ihe flnandal $iaiem8nls. Flnanclal revlew The Trust Is wholly r8llanl on fundlng from Boots UK Llmlleij. whld) was £437.500 In the year12023- £250.IKK)l Bnd has been 8gmad as £50QI,000 lor Iha year endlng 31 August 2025. Roserves pollcy 11 Is the pollcy ol tho Fund not to hold surplus reserves. The Trustees rewew Ihe16vel ol reserves annually lo ensurè th& future expendllure w511 nol excged the funds that are available. Al Ihe year end. th8 level ol surplus was £39.863 {2023'. £nil) however is expacled lo relurn to £nil for the yèar ended 31 August 2025. R•faronces to atrateglc roport ootalls ol the follon0 areas can be lovnd In the Slraleglc report #nd form part ol Ihls repori by cros8-reference.' Oblecllve8 8t)d acllvllles lor Ihè public benefit lincludlng publlc benefit slalemèntl AchSevemenls and performance Audltor Pursuant lo s487 of Ihg Companles Acl 2006, Deloltte LLP were deemed lo bts reapwlnted and will th&refore conllnue in offlcg. 016closur• of Informatlon lo audltor The Trusleos who held oifi¢e at the dale of approval of Ihls Trusleos. and Dlrectors. roport conflrni ihal. so far as Ihey are each aw8ro, Ihere Is no relevant audit infomiation of which the Trust's auditor 1$ unawaTe. and each Trusl¢e has taken all the sleps Ihal Ihey ought lo have taken 8s a Trustee lo make themselve8 aware of any relevant audll inlorm811on and to esiablish Ihal lh8 Trusl's avdil(w Is aware ol Ihal inft¥mallon. Thls confirmallon is gSven and should be Interpreted In acexJrdan¢e ¥th Ihe provisions of $418 of the Companles Act 2006. The Trustees, and Dlreclors, report whkh incTrateS the Strategic repx)rt on pages 1-2 was aprwoved by the Board 8nd signed on Its b8half by.. J Moffat Truslee and Dire¢lor 25 Novgmber 2024 Registered office.. 1 Thane Road Wesl Notlingham NG2 3AA Re9lSte¥ed in England and Wales No. 03039665 Charity Regislratson No. 1045927
Boots Charitable Trust statement of Trustees, responsibilities for the year ended 31 Augusl 2024 The Trustees. who are also DSrectors of Bools Charitable Trusl for the purposes of Company Law, are responsible for PT8parfng the annual Trusle&s' and Directors, report and the financial stalemenls ir) accordance wth applicable law and UK AccounlirvJ Slandards {UK GenerallyA¢cepled Accounting Pra¢llcel, Includlng FRS 102 Yh8 Flnanclal Reporting Standard AprAicabk in the UK and Republ of Ireland.. Company law reqUIS the Trustees lo preparg flnan(#al slalemenls lor each financial year whlch ySve a Irue and 18lr eW ol thè stale of affalrs ol the charilable company and of the incoming resourc£s and applicalion of resources, induding Inc4Jme and expendilure of the ch8Tltable company for that period. In preparin9 these finandal slalemenls. Ihe Truslees are required lo.. sel8Ct sultable accounting pollcles and then apply Ihem )SIstenty- observe the methods and princitAes of Ihe Charilies SORP., make judgemen1$ and estlmates Ihal ar8 itrasonae and prudent-, slate whether appllcable UK Accounting Slandards have been followed, subjecl lo any mat6rlal departures dlsdosed and explained In the flnanci81 slalemenls., and prépare the financlal slalemenls on th& gc4ng c(M basls unless it Is in8ppropri816 Io Presume that Ihe charitable company wlll conllnuè In business. The Trusl•gs responsibl8 for keèping adequate acwunling recLJrds that disdosè with reasonable accur8¢y al any time the fln8ndal posilion of the charitable Company and enable them lo ensure thal the finandal slatemenls comply wlth Ihe Companles A¢1 2006. They are also responslble for safeguardlng the 8ss$ls of the chawilable c¢)mpany and hence lor tsking reasonable Slops lor Ihe prevenllon gnd d&teclion ol fraud and othèr Irregularllles.
Independent auditor's report to the members of Boots Charitable Trust R8port on the audlt orthè Ilnanclal slatements Oplnlon In our opinion th8 finanel81 stalem8nls of Bi>ots Charitable Twsl (the'charilable companYI: give a true and lair view of Ihe slate of Ihe charitable compan¥s aHairs as al 31 AwJusl 2024 and of its Sncomlng resources and 8ppllcatSon ol resources, includlng its income and expenditure. for the year then ended.. have been properly prepared in aCcOrdar wlh Uniled Kingdom Generally Accepted AccoLTrnllrw3 Praclice. Includlng Flnancial Reporting Standard 102 "The Financial RerKAting Slandard aPKAicable in the UK and Republic ol IrelarKI'. and have been Prepared In accordan¢6 wth the requirements ol the Companigs Act 2006. We have audited the financial slalements whlch eM)prise'. the slalemenl ol financial aclivilies {incwpxYaling the incLJme and expendilure accounl}- the balance sheet., the related notes 110 12. The financial reporting l¥amework that has been appld in their preparation is ap lcae law and Uniled Kingdom Accounting Standards, including Flnanclal Reporiing Standard 102 "The Finandal R8pc*ting Star¥Jard applicable in lh8 UK arKI Republic of Ireland" (Uniled Kingdom Generally A¢c8pled Accounlino Praclicel. Basls for oplnlon W6 conducted our audll In a¢cordance wilh Inltsmalional Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsSbililles under those 81andard8 are further descTlbed In the audilofs respsItlI14eS for Iho audit ol the financial slalemtsnis seclion of our report. We are Indopendonl ol the charitable ¢omp8ny In accordance th the ethical requlrements that are Televanl lo our audll of th& flnanclal slalemenls In th6 UK, Includlng the FlnanclBI Reportlng Council's {Ihe 'FRC's'l Elhl¢al Standard, and we have fulfilled our olher elhlcal responslbililles In accordance wllh these requirements. We belSeve that the au¢Jll adence we have oblalned bs sufficient #NJ apwoprtate to provk 8 bagls for OUT oplnlon. Concluslon$ rel•tln9 to golng conc•rn In audlling the finandal slalemenls, we have concluded Ih81 Ihe Tru$lees' use of Iha gokng conc8m basls of accounllng In the preparallon of the 1Snanclal slatemenls18 appropriate. Based on the work we have p8rform8d, we ha not Idenllfied any maler181 VI8rtaInlIeS relallng to ov8nts or Cnd1110n8 Ihal, IndSvldually OT collecllv81y, may cast slgnifieAnl doubl on the charilable companls ability lo continue as a going concern for a period of al least iw8lve months llom when th8 financlal slalemènls are aulh0ri8ed lor Issua. Our r8$ponslbllSlles and tho responslbllliles ol the Twslaes re8pecl to gobThJ cM are descrlbed In Ihe relevanl sedons of Ihls rtpot1. Other Inft)rm•tlon The olhei Inlormallon comprfses the Inl<)m)atlon Included In Ihe Truslees. and Dlrectors, report, olher than the Ilnandal slalemenls and our audS10rf8 reporl Ihereon. The Trustees are iespon51blo lor Ihe other inlormallon conlalned within Iha annual reporl. Our oplnSon on the Ilnanci81 statements does not cover the other Inlom8llon and. except lo Ihè extent otherwise èxplidily slated In our repotl, we do nol expre88 any form ol a3suran¢& eoncluslon thereon. Our respon8lbSllly Is to read the other Inlomiatlon and. in doing so. consider wholher thè olher Information is mBl8rfally Incon8lslenl wllh the financlal slalaments or our knowledge oblalndd In the crSe ol ihe audll. or olherwise aPPèaTS to be malerially mlsslaled. 11 we Idonlify stjch malerlal inconslslències or apparent material misslalements. we are required lo delemiine whether this gives rise lo a rn818rial mlsslatemenl in Ihe fin8nclal stalemenls Ihèmselves. 11, b8Sgd on Ihe work havg performed, we CA)n¢lude that Ihere is 8 maletlal mlsslalemenl of IhSs olher inlormalion, we are raquired lo rèport that lacl. We have nothing lo report In Ihls regard. Responslbllltlos of Trusle¢s As explain8d more fully the statfyment ol Trustees, responslbilities. the Truslees Ivkno are 81s0 tho Direclors ol Ihe charltable company lor Ihe purpose of company lawl are re5ponslbl8 for the prepar81Ion ol Ihe financial statements and for being satlsfied that they give a Inj6 and fair view, and for such Internal conlrol as the Truslees <J6lermlne is neCeary lo enable the preparation of financial statemenls that are freo from malerlal ml8sl8lemen(. whether to Iraud or emr. In preparfng the Ilnanci81 $ts18menls. ihe Trustees are responsi& assessing the charitable COMpanS ability lo conllnue as a going concern. (lisdosing, as applicable, mallers relaled lo going cK)rKem and using Ihe going concern basis of 8¢counlir¥J unless the Trustees either intend lo 1Squldate Ihe charilabl6 company or lo cease operalions, or have no realistic altèrnative but to do so. Audl¢or's responslbllltles for the audlt olthè flnanclal slotemènls Our obj8clives are lo oblaSn reasonable assurance about whether the financial slalem8nts as a whole are free from malerial misslalemenl, whèther due lo fraud or error, and lo issue an avdilorfs report Ihal includes our opinion. Reasonable assurance Is a high levtsl ol assurance. bul is not a guaranlee that an audll conducted in accordance with ISAS IUKI wll always detect 8 malerial misslaleTnent when 11 exisls. Misslalemenls can arise from fraud or error Bnd are ¢onsldered malerlal Sf, Sndividually or in th& a9gregale, Ih8y ¢oukl reasonably be expecled to influence Ihe enOMiC des1OnS of user8 taken on Ihe basls of these financial Statements. A further description of our responsibilities for the audit of the finarKyal s18temenis is located on the FRC'S website al.. www.frc.org.ukl auditorsresponsibililies. This description form5 part of our audilols report.
Independent auditor's report (continued) to the members of Boots Charitable Trust Extent to whlch the audit was consldered capable of dèfectlng Irregularities. Includlng fraud Irregularities, including fraud. are instances of non-compliance wilh laws and re9ulalions. We design pro¢edures in line with our responsibililios. outlined above, la delecl malerial misstslemenls in respect of Irregularflies. IldIng Iraud. The exlenl lo whlch our plAdureS are capable 01 deleoting irregularitles, induding fraud is delalled below. We consldered Ihe nalure of the charllable company's Industry and ils control envlronment. and Tevlewed the charitable companys docum8ntalion ol their poll¢ies 8nd procedures relallng lo fraud and CL¥np4i8ncè with laws and regulations. We also enquired ol management and Ihe Trustees about Ihelr own Idenllficallon and assessment of the SkS olirfegulaTilles Induding those that are specific lo the tharitable companvs buslness seclor. Wè obtained an understandlnu of Ihe legal and regulalory fiam8%srJrk that Ihe d)arilable MpanY operates in, and Identified the key laws Bnd regul•lions that.. had a dlrect effect on the d61ermlnation of malerfAI am(rtJnis and disdogures In Ihe financaal slatemenls. These Incjuded UK Compan18$ Act and UK Charltles Act.. and do not have a dlrect effecl on the finan¢lal sialemenls bul C<MTrwllance th whl¢h may be fundamental lo the charitable companls ablllly to operate or to avoid a m81erial penalty. Th included the Charily Commission for England and Wales {Charity Commlssion) regulallon8. W8 discussed 8mong the audit engagemenl team regarding th8 Crf)portunith?s arvj In¢enliv6s Ihal may exlsl wthln ihe organisallon for fraud and how nd where fraud might occur In the financl81 statements. As a r68uII ol performing the above, we idenlllled Iho grealesl polenlial fr8ud (Y nonacompllance vAlh laws and regulauons the lollowlng area, and our procedures performed to addr&s$ il are described below: We pr&suin8 a risk ol mal8rl81 mlsslalemenl due lo fraud In revenue rerxJgni0n which Is relaled lo lh8 completeness of donallon Incomè. To address Ihls rlsk, we rewewed Ihe Tru51ees' meeting mlnul&s and bank slalemen15 in the perlod, 8nd post year end records., 8nd lesled a sample of Incorne to 8UPPOrtlng evidenctr. lo l¢sl whether income had been appropriately inclLtded In th8 fln8nGlal slalemenls. In comrnon wllh 8118udlts under ISAS IUKI. we are also reqvlred to perfomi 5pèdfic procedures lo respond to the rlsk of m8n8gèmenl overrld8. In Bddresslng the rbsk ol frAud through managemenl overrlde of controls. w& tested the approwialeness of loumal entrl8s and olher adluslmonls., a$sessed whether the judgements made in maklng accounting estim8les ale Indlcalive of a tentIal blas: and ov81u8tfyd Ihe buslness rallonale of any slgnlfi¢8nl Iransactions that are unusual OT outside Ihe n(xmal o)urse ol buslnoss. In addition lo the above. our procedufes lo respond lo the Tlsks Idenllfied Induded Ihe following.. revlewing finAncial stalemenl dlsdosures by lestirrfJ lo supporting documentation lo assess compliance wllh provisOon8 of relèvant lows 8nd regulallons descrlbed as having J dlrect effect on Ihe finandal slatemenls,. performlng analytlcal procedures lo Identify any unusval OT unexpeclod relationshlp8 th81 moy Indlcale rf8ks of mBterlal mlsslalem8nl due lo fraud.. enqulrlng ol management corurnlng actual and polen1181 Ilugalkn arnl d81ms, and Inslances ol n0n-compl1are wllh laws Bnd regulallon8,' and readlng mlnules ol meetlng8 of those tharged wth goveman¢8. Report on oth8r logal and regul&tory roqulr•ments Oplnlons on oth•r maltèrs pr6scrlb•d by lh• Compan1•$ Ael 2006 In our oplnlon, based on the work undertaken In the COUTse of the audit: the Inlorrnallon givan In the Trustees. r6KK)rt, whlch Includes the slrataglc report and Ihe DirectOTS' report prepared for the purp08es ol ¢ompany law lor the financial year IOT whi¢h th& finanaal s(alements arè prepared 18 conslslent wilh the financi818lalemenls.. and the slr81èglc report and Ihe Dlwlors, report indud8d withln Ihe TTuslees' report have been w8p8rod In accordance wilh applicable legal requir8menis. In the Ilght of the knoe¢Jgfj and underslandlng of the tharflable ClP8nY and tts envlronmenl obialned in Ihg course ol th8 8udll, w8 have not identified any moterial mlssl818mgnls In Ihe slraloyic report or the Dlreciors, r8POrt Induded within the Truslees, reporl. M4lt•rs on whl¢h we arè r8qulred to report by exception Under Ihe Companies A¢1 2006 we are requlrod to rewt in respe¢t of the lollowing matt8r8 51. In our opinlon.. adequate accounting records have nol been kept, returns 8d$quale IOT our audil have not been received Ir(yn branche5 not vlslled by us.. or the financlol slalemenls arg nol In agreement ¥1 the accounling rerdS and reiurn$-, or certaln dlsclosures of Tru518es' remune¥alion spe¢lfied by law are not made.. or we have nol received all the informal¢rm and explanati)S we requiTe for wr audil. We have nothing lo report in respect ol those matiers. Use ofourreport This report is made solely to lh• charitable companls members, as a body. in accordance with Chapler 3 01 Part 16 of th# Companies Act 2006. Our audit work has been undertaktrn so that we might state lo Ihe charitable COMpanS members Ihose malters we artr r&quired to stale lo them Sn an audltorfs report and for no olheT piirpose. To the fullest extent permitted by law, we do nol accept or 8ssume responsibllbly lo anyone olheT than the charflable company and the charitable (x)mpanls members as a body. for our audit worf(. for this report, or for the opinions we h8ve formed. Halen Perkins FCA {Senlor statutory audltor) For and on beh811 of Deloilte LLP st8lulory Auditor Reading. United Kingdom 25 November 2024
Boots Charitable Trust Statement of financial activities (incorporating the income and expenditure account) for the year ended 31 August 2024 2024 2023 Notes Ineome from.. Donations 491,023 4YI,023 271,026 271,026 Total Incomè Expendlture on: Charitable acllvitles 1451,1601 1451.1601 1271,0261 1271.0261 Total èxp8ndlturè Nat movémènt In funds 39,863 All funds are unreslricled Sn the currenl and pr8rAding ye8rs. The Incomel{expendilurel and resulllng nel movemenl In funds artses ITn contlnulThJ operations and IrKlude8 811 g81ng and losses recognlsed In the y$ar. statement of reconciliation of funds as at 31 August 2024 2024 2023 Notes Total funds brought fOard Nel movom8nl Sn funds for the year Total funds carrled I08rd 39,863 39,863
Boots Charitable Trust Balance sheet as at 31 August 2024 2024 2023 Notes Assèts Current assets Cash and bank balances 137,310 137,310 46,704 46,704 Llabllltles Current Ilabllltles Trade ancs olh6r ables {97,447 {97,4471 46,7041 146,7041 Nat assèts, b8lng net current a$s•ls and bèlng total assets les$ currènt Ilabllltles 39,863 Fund$ Unreslrfeted Income lunds.. General funds Total charlty funds 39,863 39.863 The accomp8nylng notes to th8 financtal 81alem8nl8 Are on Inte part of the Twsl's financial slalernenls. The flnanclal stalernen¢8 01 Boots Charitable Trust Icomp8rhy registration number 03039665, d)arlty reglslratlon number 10459271 were approved by the Board of Trustees and aulhorlsed lor Issue on 25 November 2024. The financial slalemenls were sSgn6d on ils bahall by.. J Moffat Trustee and Dlreclor 25 November 2024
Boots Charitable Trust Notes to the financial statements for the year ended 31 August 2024 1. Material accountlng pollcles The following accounting polleleg have been applied cSIStenY in dealing wlh ite whlch are ¢J)nstdered malerlal In relalion to th8 Trust's flnanclal slalemenls. General Information Boots Charitable Trust I'lhe Trust") is a public benefil entity, a regislereij charity and ¢s Incorporated In England bnd Wales as a Company Ilmlled by guarantee not having share capital. The address of Ihe registèred office is oiven on pag6 4. The nalure ol the Trlssl 's operalions and Ils prlnclpal 8clivllles are sel oul in the Straleglc report on page 1. Basls of preparatlon The financial slalements 8fe prepared under the hIs11C81 eosl conventiors. In 8c¢ordÈnce wllh t1 Slalemenl of Recommended Practice 'Accounllng and Reporting by Charilles ISORP 2019)" applicable charlties preparing their accounts in accordance wilh the Flnancial Reporting Standard 8ppll&gble In the UK and Republic ol IrelarKI {FRS 102}. effectiv8 1 January 2019. ihe Companies Acl 2CKJ6 and the Charili$s Act 2011. These financial si8lemenls are presented in wurKls s18diNJ because that is Ihé currency ol the primary economic environment in whl¢h Iha Trust operales. The Trust has taken Ihe exempllon as a small charity Iicrfn Ihe pr8paralkJn ol a cash slal8m8nl. Golng concern The fin8nclal statemonls have been prepared on a golng concern basls. In adopllng Ihe golng concem basls, lh8 Truslees have consldered the charllable aclSvltlas and prindpal rlsks and uncertalnlies as sel oul vAlhln the Strategic report. The Trust had n81 Income or £39.86312023.. £nlll In lh• current year. 11 has nel ¢urrent assets of £39.86312023.' £nlll whlch Is expèctèd lo rettjfn lo £nll In the year endlng 31 August 2025 as11 Is Ihe Truslees. Inlenllon to donate Ihls post year end. The chall18 8clivllles arè expectod to con11nue Into the forese¥oblo future and lor al1888112 months from approv81 of Ihese llnand818t8lem8nl8. The donalion from Boots UK Llmiled is 3nli¢lpat8d to continue lo be received lor the foTe$8eable lulvre. The annual donallon for the financlal year endlng 31 Augu812024 was £437.50012023.. £250,000) excluding donated sobvkes. For Ihe year endlng 31 August 2025, Boots UK Limlled confirm&d funding of £500,0(MJ prior lo slgnlng Iho flnandal slalemenls. All financl81 commllmenls are agreed subsequ8nlly once the Incorne Ss known and wll nol exceed the Incomfr received. Funds ale dlvlded equally lor allocallon lo each meellng held In Ihe year and oxpendllure agalnst allocation Is monSlored cthely durfng anLI al th8 condusIc ol each meollng. Based on these fact3, the TrustO8s have assessed that Ihorg Is no malerlal un¢8rtalnty surr(wJndlng Iha going conearn ol the Tru31 and they Ih8relor6 conslder that it wlll be a golng conc8m for at lea8112 mnlhs from the dale ol approval of Ih880 Ilnandal slalemenls Income All Sncome Is recognlsed once the TTUSI has enllllemenl lo the resourc*8, It Is probab18 Ihal the In¢ome wlll bg re¢elved, and the monet8ry valug can be measured wllh 8uffl¢lonl rellabSllty. Don&llons Such voluntary Incomg is acc4JunleLI for on Ihg dale en il bec(¥ne$ r8ceivable. Donated proftrssional s8Nices and donal8d lacilities are r8cogni5ed as Sncome when the charfly hos control over thè Item. any conditions assodaled wlh Ihe donated ilem hav6 been mel, Ihe roc6lpl of economlc benelll frorn tho use by the ¢harily of the item is probabl8 and Ihal eo)nomic benèfit can bè measured reliably. In 8¢wrdance with the Charilles SORP IFRS 1021, general volunteer Ilme Is nol recognlsed. On recelpl, donated prolesslonal seNl¢es and donaled facililitss ar8 recognised on Ihe b8si$ of th& value ol the gift lo lh8 charily whlch Is the amount Ihe charlly would have been willing lo pay lo oblain services or fadlilies ol eqUiVar1t ecorwjmic benofll on Ihe open markel; a corrospondlng amounl Is then recognlsed in expendlture In the pewiod of Te¢eSpl. Expendlturfj Llablllties are wcognised as experbdllure as soon as thefe 18 8 legal or conslruclive oblig8tlon commitllng Ihe Trust lo expèndlturÈ. Al expendllure is accounted for on an accruals basis and h8s been daSrIed under headings that aggregaie 811 cosls relaled lo the calegory. Charilgble 8clivilies Donallons are included In th6 statement of finanThal 8cllvlUes vthen apwoved by tha Trustees and agreed vAlh thè reclpient organisalion. If a don81Son Is awarded that is dependenl on csrtain conditions being mgt. it is Irealed as experKliliJre and a liabilily of Ihe Trus111 Ihose conditions fall outside ol Ihg control ol Ihg charSty. All expenditure Is Bccounled for on an awuals basi& BBSIS of allocallon olcosts Support costs arfj contributions from Boo18 UK Llmited. Vthh is an approximation. based on sepatelY Idenlifiable costs, In rnspecl of managing and admlnlsterlng the Trust. Govemance costs comprise all costs involving its Complian with conslilulional and slalutory requlremenls. Thgse costs include costs related lo Ihe statutory audit. All supwK¢ cosls and govemance costs are allocaled lo charilable activliies on the basis of time spenl on Ihese aolivities. Grants Grants payabla are paymenls made lo thlrd parties in Ihe furtherance of the charitab obieclivès of Ihe Trust as slated In Ihè Trusteas. and Directors. report. 10
Boots Charitable Trust Notes to the financial statements (continued) for the year ended 31 August 2024 1. Material accountlng poli¢l•s {¢ontlnu•dl Flnanclal Instruments Financial assets and finaneial liabiliknes are recL¥Jnised when Ihe Twsl becorn8s a party to Ihe (X118clal provlslons ol the Instrument. All finandal 8ssèls and Ilabllilies 8re Inlllally meas(tred al transaclion pre linduding transaction cosisl, except lor those financial assels classitled as al fair valsJe through profil or loss. whlch are Initl8lly ffleasured Bi lair value (which is nornially Ihe transaction price excluding Iransaclion costs), unless Ihe arrangemenl conslitules a financing Ir8nS8Ction. If an aTf8ngemenl conslilules a finance Iransaclion. Ihe financial asset or financial liablllly is measured at Ihe present value ol the lulure payments discounted al a mathl rate of Interest f(w a slmllar debt istruMen1. The Trust only has flnandal Èssels and financlal liabilities ol a kind Ihal qualify as basic ffinandal Inslrumenls. Baslc financlal Instruments are initially recognlsed at transaction value and subsequently mèasur8d al thdr selllemènt valu&. Fund accountlng All funds arts unreslrS¢led. Thesè are funds which are expendable at the discretkn of th6 Twslees In furth8ran¢e ol the obl6ctives ol the Trust. Taxallon The Trust is a registered charity and has no liabillly for eorporalion lax cm) its charitable activili&s under Ihe Corporation Tax Acl 2010 Ichaplors 2 3 ol part 11. 88elion 466 onwards) or Seclh)n 256 of ihe Taxallon for Ch8rge8ble Galns A¢1 1992, to Ihe axlenl surpluses are applled lo Ils charllabl purposas. Cash at bank and In hand Cash at bank and cash In hand Indudes c4sh and short lem hlgNy Ilquld Inv8stmanls vAlh a short maturlly of three months or1è3s from tha dalè ol acqulslllon or openln9 01 the deposlt or slmilar occounl. 2. Crltlcal accountlng judgement$ and koy $our¢•s of èstlmatlon uncèrtalnty In the appllcallon ol Ihe Trust's accountlng polldes. vthl¢h are d88crlbed In note 1. lh8 Trustees ara requlred lo make ludgemerlls, è811mates and 883umpllon8 about the ¢arrySng Bmounls ol assels and Ilabilllles Ihal are not readily 8t)p8renl from olh8r sour¢6s. Thè eslimales and assocSaled assumpllons are b8s$d on hlslorfcal expellence and other lactOTS Ihal are consldered lo be relevant. A¢lu81 results may dlfl6r from Ihase asllmates. The esllmales and underfylng assumptlons are revleweil on an ongolng basls. RSonS lo accounllng esllmales are recognlsed In the perfod In whlch Ihe esllmale is revlsed il the revislon aflecls only Ihal per¢od, or in thè p81iod of lh8 revlsion future perS il Ihe r8vislon affects both current and futur8 perlods. The Trustees do not conslder Ihere lo be gny crltleal judgements or key sources of esllmallon uncertalnly fequlrfng dlsdosuie. 3. Incoma from donatlon8 Boots Ch8rllable Trust Is an Ind8p8ThJ8nl reglsl8rad charlly wholly lunded by Boots UK Llmlled. 2024 2023 Don8llon8 Donated seNlc88 (see nolo 4} 437,500 53,523 491,023 250,000 21,026 271,026 4. Support co8t$ and governon costs Included wilhln don811on3 18 £53,523 (2023.. £21,026) from Boots UK Llmiled In respecl of managing 8nd 8dmlnlslering the Trust. Thls 18 an 8pproxlmatlon based on separately identifiable u)sts and Indudos audll lees of £3.50012023.. £3.5001. There are no lees pay8bl8 lo Ihe Tru81'8 audllor for non-audlt servlces12023.' £nlll. GoveTnancè costs of £3,500 {2023.' £3.5001 consisl of the audit lee. 5. Analysls of ¢harltabla 8¢tlvltles Supportl governance costs Inole 41 Grants funded actlvlty 2024 Total CharSlable activities 397.637 53,523 451,160 SuppL)rtl gov8rnanc8 eosls Inotè 41 Giants lundwj activity 2023 Total Charitable aclivilies 250,000 21,026 271,026 No grants were awarded to Indlvkjuals in the cuirenl or preceding year.
Boots Charitable Trust Notes to the financial statements (continued) for the year ended 31 August 2024 S. Analysls of charltabla actlvltles Icontlnuedl Analysls of grants awarded durlhg thè year All grants Werè agreed during Trustee mtstrtings that look place ihroughwt the year to 31 Augusl 2024. Dudng Ihe year major grants amounted lo £397,637 {2023.. £250,000) and were made to 48 benèfiuaries12023.' 281. A list ol the awards donated durlng Ihe year is sel out below. 2024 Health My Sighl Nollinghamshlre Iworklng name for Nollinghamshiie Royal Soaety for the Blin¢J) S.H.E. UK 9,646 9,876 CllSzens AdvSce Broxiowe 10,000 4Slghl Vislon Support 10,000 Denlald 2,500 ERIC, The Chlldren's 8owel and Bladder Charity 5,000 Fumble 10,000 PASIC 10,000 Chlld Braln Injury Trusl Notllnghamshlre Hosplce Chan9lng FBces Trauma Treatment Inlemallonal {Thll SlreelDocloYs 5,000 10,000 10,000 10,000 3,000 BrSdgeton Communlly Leamln9 Campus Lld Har9 HydrocephBlus Awareness Tru81 Llvorpool Cancer Care Sell Help Group (L1ver)01 Sunflow8rsl Stanloys Communlly Centre Muslc ol Llle Foundalion 5,650 10,000 5,000 9,200 10,000 18 grant812023'. 6 grants amounllng lo £54.4271 144,872 2024 Communlly d&v8lopment Equallon Charity 8ournemouth FoodBank 10,000 10,000 Prim8ry INolUngham Sludlos Ltd) Qulel Down There CIO 2,950 6,000 EpS¢ Partners Ashfield Voluntary Action GoodGym 9,394 9,709 9.143 Imar3 CIO 9,993 Oxlordshlre Play AsS0aa.0n 4,500 9 grants12023-. 7 grants amountlng to £60,660) 71,689 12
Boots Charitable Trust Notes to the financial statements (continued) for the year ended 31 August 2024 S. Analysls of charltable actlvltles (continued} 2024 Llfélong lèarnlng Young Enterprise 10,000 Children's Book Prolecl STAA Ltd 8.143 7,500 Blyth R6sour¢& and In111811ve Cenlfe Sundedand Women's Centre 5,000 7,656 The Mason Foundallon 9,950 6 grants12023'. 6 grants amounting lo £45,489) 48,249 2024 So¢lal caro Hope Notilngham CIO Home-S¢art Haringèy Hockney and Wallham Foresl IHSHH&WF) Noltlngham Chlldren. Young People and Thelr Fami11&8 Pf(48cI Thts Elh81 Tru81 10,000 qo,iJoo 7,946 3,350 Beeslon Communliy Resoure8 CIO Llllle Mlrac198 Chorllable Incorporaled Org8nlsalion The Marcellu5 Baz Foundallon 9,137 10,000 9.750 Hlghllghls Polenllal Klds 8,500 4,450 Reach Famlly Prolect Children's Bereavement Centre 10,000 10,000 POW NollSnghBm The Helpful Bureau Wlndmlll Communlty Gardens 10,000 9,694 10,000 Open Homes Notts'ngh8m 15 grants12023.' 9 granls amountlng to £89,424) 10,000 132,827 6. Trusteè remun¢ratlon No Trustee has recelved or waived any remuneration or exp8nsgs f(* their seNlces lo the Trust during the ye8r12023: nlll. 7. Employ¢tr numbèrs and costs The Trust has no employe9$ (2023.. nill. 8, Trad• and other payables 2024 2023 Amounls due wilhin one year.. Aocruals 97,447 46,704 These accruals relate lo gr8nts approved but not d•Srsed as al 31 August 2024 aThJ as al 31 August 2023. 13
Boots Charitable Trust Notes to the financial statements (continued) for the year ended 31 August 2024 9. Related partles Bools Charitable Trust is a vtholly owned d)aritable company vJithin the Walgrtsens Boots Allance. In& Group. All companlès wlthln (he Group are a relaled party lo Ihe Trust. Durlng the year, the Trust received a granl of £437,50012023.' £250,{KlIgnd donaled sWVi to Ihe value of £53.523 (2023.. £21.0261 from a related Company, Boots UK Llmbled IÈ wholty owned subsidiary within th& Group). Amounts due tolfrom Boots UK Limiled al the year-end ware £nil12023'. 10. Post balance sheet events There have been no signlficanl ev¢nts slnee ihe balance sheet d81è whl¢h should considered for a prOr understanding of these financlal s18lemenls. 11. Commllmenl$ Al Ihe balance sheet dal8, Ih8r8 are no gr8nls lo whith the Trust was Mmitted to makin9 Ihal have not been provkjeil lor12023'. none). 12. Ultlmal• p4rènt und&rtaklng The Trust has no share ¢8pIt81 and is Ilmlted by guarantee of the Membws. Al 31 August 2024 Ihe Tw3f3 Immedlale porenl Companles were Alllanoe Boots Holdlngs Llmiled and Walgreens B¢)ols Alllance SeNices Limiled, both Incorporated in the United Klngdom. Tha Trust's ullimala parent company and oonlrolllng party Is Waloreons Boots Alllance, In¢.. Walgreens Boots Alliance, Inc. Is also Ihe parenl undertaklng ol lho18rgg$18nd smallest group In whlch the Tru511$ consolidated. The consolldaled financial slalem6nls of Ihls Group arè av8il8ble Irom the Walgreens Boots AllianGe w6bsll6 at www.walgreensboolsalllance.com. Walgreens Boots Alllance, Inc. Is IrKorwJYalod In the Unlted Stales of Am8Tl¢a, 8ntl 519 ptlndpAI and reglslered olfic8 address IS 108 Wilmol Road, Deerfield, Illlnols, 60015. 14