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 comp￿ed 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 refer￿d 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 pro￿￿eS 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 I￿leS sel out In Nole 1 to the finan￿al 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 ac￿rdanC￿ wilh Ihe FinancAal Reporting Standard applicable In Ihe UK and Republic ol Ireland IFRS 1021. Professlonal advls•rs Auditor Ddoille LLP, Slalulory Audil(*. Abbots H￿JS8, 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 rAynpo￿ll0n 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 re￿1ve￿. 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 $0¢181 care. The Trusf8 gwraphical rea(*13 the ofthe UK. Post balance sheet events There have been no sSgnificanl 8venls slnce the batancé sheet date lo the dale of thls fèFW)rt thal sh￿Id change Ihe financ181 pèrformance, pt)sltlon and going concern ¢oncluslons reported wilhln these finanLyal statements. Trustees Thts lallowin9 servad as Trustees (Juring Ihe year arvj lo the dale of this roprxt: L Moxley B Shah J Moffal M Bfjnford P ThakraT S Buchanan L Reynolds lappolnled.. 10 Oclober 2024) Ireslgned.. 10 October 20241 Ir¢slgned.' 5 June 20241 Remuneratlon of Trustees The Trustees recelved no remunerallon for Ihelr servlces durfng tha year12023- £nil). Tran$actlons wlth related partlés Delalls of 1ran8oellons wllh Telaled partles are Sel tyjl In note 9 to Ihe flnandal $iaiem8nls. Flnanclal revlew The Trust Is wholly r8llanl on fundlng from Boots UK Llmlleij. whld) was £437.500 In the year12023- £250.IKK)l Bnd has been 8gmad as £50QI,000 lor Iha year endlng 31 August 2025. Roserves pollcy 11 Is the pollcy ol tho Fund not to hold surplus reserves. The Trustees rewew Ihe16vel ol reserves annually lo ensurè th& future expendllure w511 nol excged the funds that are available. Al Ihe year end. th8 level ol surplus was £39.863 {2023'. £nil) however is expacled lo relurn to £nil for the yèar ended 31 August 2025. R•faronces to atrateglc roport ootalls ol the follo￿n0 areas can be lovnd In the Slraleglc report #nd form part ol Ihls repori by cros8-reference.' Oblecllve8 8t)d acllvllles lor Ihè public benefit lincludlng publlc benefit slalemèntl AchSevemenls and performance Audltor Pursuant lo s487 of Ihg Companles Acl 2006, Deloltte LLP were deemed lo bts reapwlnted and will th&refore conllnue in offlcg. 016closur• of Informatlon lo audltor The Trusleos who held oifi¢e at the dale of approval of Ihls Trusleos. and Dlrectors. roport conflrni ihal. so far as Ihey are each aw8ro, Ihere Is no relevant audit infomiation of which the Trust's auditor 1$ 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 $418 of the Companles Act 2006. The Trustees, and Dlreclors, report whkh inc￿T￿rateS the Strategic repx)rt on pages 1-2 was aprwoved by the Board 8nd signed on Its b8half by.. J Moffat Truslee and Dire¢lor 25 Novgmber 2024 Registered office.. 1 Thane Road Wesl Notlingham NG2 3AA Re9lSte¥ed in England and Wales No. 03039665 Charity Regislratson No. 1045927 Boots Charitable Trust statement of Trustees, responsibilities for the year ended 31 Augusl 2024 The Trustees. who are also DSrectors of Bools Charitable Trusl for the purposes of Company Law, are responsible for PT8parfng the annual Trusle&s' and Directors, report and the financial stalemenls ir) accordance wth applicable law and UK AccounlirvJ Slandards {UK GenerallyA¢cepled Accounting Pra¢llcel, Includlng FRS 102 Yh8 Flnanclal Reporting Standard AprAicabk in the UK and Republ￿ of Ireland.. Company law reqUI￿S the Trustees lo preparg flnan(#al slalemenls lor each financial year whlch ySve a Irue and 18lr ￿eW ol thè stale of affalrs ol the charilable company and of the incoming resourc£s and applicalion of resources, induding Inc4Jme and expendilure of the ch8Tltable company for that period. In preparin9 these finandal slalemenls. Ihe Truslees are required lo.. sel8Ct sultable accounting pollcles and then apply Ihem ￿)SIstenty- observe the methods and princitAes of Ihe Charilies SORP., make judgemen1$ and estlmates Ihal ar8 itrasona￿e 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 appl￿d in their preparation is ap ￿lca￿e 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 resp￿sIt￿lI14eS 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 a￿dence 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$lees' use of Iha gokng conc8m basls of accounllng In the preparallon of the 1Snanclal slatemenls18 appropriate. Based on the work we have p8rform8d, we ha￿ not Idenllfied any maler181 VI￿8rtaInlIeS relallng to ov8nts or C￿nd1110n8 Ihal, IndSvldually OT collecllv81y, may cast slgnifieAnl doubl on the charilable companls ability lo continue as a going concern for a period of al least iw8lve months llom when th8 financlal slalemènls are aulh0ri8ed lor Issua. Our r8$ponslbllSlles and tho responslbllliles ol the Twslaes re8pecl to gobThJ c￿M 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 c￿rSe 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