THE PRET FOUNDATION
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Charity registration numbers: 1050195 and
SC050501

THE PRET FOUNDATION
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 DECEMBER 2020
Truslees
C Schlee
A Wareham
P Christou
V Cumlnel
D McDermoll
O Wlnterkorn
Chief Executive Officer
C Schlee
Principal Office
Pr61 A Manger
10 8ress&nden Place
London
SW1E 5DH
Audllor
RSM UK Audit LLP
Chartered Accouni8nls
Rivtsrmead House
7 Lewis Court
Grove Park
Leicester
Leiceslershlre
LE19 1SD
Bankers
HSBC Bank plc
4 Robertson Street
Haslings
East Sussex
TN34 1HW
Registered Charity Numbers
England and Walos
1050195
S¢olland {from 29 September 20201 SC050501

THE PRET FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their report together with the audited financial slalemenls for the y8ar anded
31 December 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
la) Constitution
The legal lorm of the Charity is that of 8 TTUSI. The Charity's governing document Ss a Trust Deed dated 19 July
1995 together with Oeed of Amendment dated 11 June 2019 and Deed of Amendment dated 17 Seplerllber
2020. Since the year end, a new Trust Deed dated October 2Q21 was approved, which replaced the previous
Trust Deed.
Ibl Change of name
On 11 June 2019 the Charlly chang8d Ils nam6 from Prot Foundallon Trust lo The Pret Foundation.
Icl Selection and training of Trustees
Trustee5 represelll both senior management of Pret A Manger IEuropel Limited and independent individuals
with relevant skills and experience. Trustees who served during the year and up to the dale of this report were
as follows..
C S¢hl&e
A Wareham
P Chrislou
L GLJlowski Iresigned 2512120201
V Cuminel
D McDermoll lappoinl8d 2615120201
D Winlerkorn lappoinled 2615120201
Trusteès arè appolnled In a¢Gordanca with clausè g of thè Twsl Deed. New Trustees are provided with a copy
of the Trust Deed, lalesl aocounls. recent mlnutes. and sullable Cha￿ty Commission guldancg.
{d) Principal risks
The Trustees actively ￿VIeW the principal risks which the Foundation faces on a regular basis, in particular
those relating lo ils operations and finances. They are satisfied that systems are in place lo miligale the
Foundation's exposure lo the principal risks. The Trustees, formal risk management strategy comprises..
an annual review of the risks which the Foundation may fa￿.,
thé 8dèqua¢y of Current systems and procedures to mitigate those risks identified in the strategy,. and
the implemenlalion of procedures d8signed lo minirllise any potential risk on the Foundallon should any
of those risks malerialise.
Th8 slral8gy on risk 15 reviewed and discussed al meetings of th8 Trustees and details of key risks facing the
Foundation and how they are managed and miligaled are detailed wilhiii the financial rewew.
Key controls L)sed by the Found81ion include..
formal agendas for all Trustees, meetings.,
slrelegic planning, budgeting and management acaounting.,
formal proposal processes.,
donations made after careful velling of beneficiary charilles..
clear authorily limits and annual review of charities,. and
annual review of main wnlraolor.

THE PRET FOUNDATION
REPORT OF THE TRUSTEES Icontlnued>
FOR THE YEAR ENDED 31 DECEMBER 2020
COVID
The finan¢lal and optsrallonal impact of the pandemic has been significant. due to imposed trading restrictions
on Pret a Manager IEuropel Limilsd shops, which represents the Foundation's principal source ol funding. The
Foundation has available cash reserves and is commilled to continuing lo work toward Sls wre objectives and
continuing lo safeguard the financial position of the Foundation as government reslriclions are eased.
PUBLIC BENEFIT
The Trustees have paid due regard lo Charity Commission guidance on public b&n8fi1 in deciding what acllvllles
the Foundation should undertake. Throijgh ils activities of food dislribullon, employment programmes, and cash
donations lo grass root homeless charities, The Pr81 Foundation helps lo improve the welfare of the homeless.
The Pret Foundallon aligns ils oblectives and actiwties lo achieve this public benefit 89 detailed in thè
Objectives and Aclivilies section.
OBJECTIVES AND ACTIVITIES
The objective lor purposel of the charity is the alleviation of poverty, in particular hunger and homelessness.
This is achieved by the following acllvllies..
IJ Food Distribution
The Foundation arranges lor Ljnsold food lo bo wllecled al the end of each day from Prel A Manger shops
either by a Prel A Manger food van dedicated to Ihls activity or by the arranging of food collections by local
charili8s. The food 1$ then delivered lo shelters for the hungry and homeless Ishelters, hostels and outreach
programm6sl at no cost lo the beneflcSary.
2J Th8 Rlslng Slars and Shootlng Stars Employment Programme
The Rlslng Stars Programme offers homeless people the opportunity of 8 14-weèk work èxperfèncè
programme. with the alm of helplng them build a new future. The programme off8rs 14-week pald pla￿MentS
within Prel A Manger, gSving individuals from homeless backgrounds andlor with criminal records the same
benefits as Pret A Manger employees, logelh8r with a mtrnlor. career advice and a reference for future
employ8rs. 11 can lead lo a permanent position within Prel or help lo provide th8 Confiden￿ and experience to
follow a career elsewhere.
The Shooting Stars Programme offers a cohort 018 gr8dualed Rislng Stars the opportunity to partiapale in a 7-
month career development programm8 each year. 11 consists of learning modules over a period of 5 days,
¢ulmin81ing in a Nation81 Apprenti￿ship Level 2 in work skills and the opportunity lo take GCSE English and
Maths. The Shooting Stars finish the programme with a clear Personal Developm&nl Plan IPOPI should they
wish lo remain in Pret or follow a career elsewhere.
3) Grants of Cash, Equlpment and FOOLI Donations
The Foundatson supports smaller, grass-root homaless ¢haritlas whoro 18nglbla results ¢an be Seen as 8 result
of making cash donations, kitchen equlpmenl donallons and food donallons. The Foundation continues lo
slrenglh&n relationships with exisling charities with repeal donations, while also establishing partnerships with
new ¢harities.
4) Shelter
The Pr81 Foundation, in parlnership wllh Wesl London Mlsslon, established The Prel House al Sl. Luke's.. a 26
room shelter in Kenninglon, London of which The Prel Foundation consislenuy has access to 6-bedrooms, or
more if required. The Prel House provldes shelter for current or graduated Rising and Shoob'ng Stars who work
in P￿1 shops nearby. Day-lo-day operations are managed by Wesl London Mission.

THE PRET FOUNDATION
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
ACHIEVEMENTS AND PERFORMANCE
The Trustees deem the Foundation lo have fulfilled ils objectives for the year.
l) Food Distribution
In 2020 over 6 million main meal items were collected and distributed on behalf of Charities 12019.. 6 million),
wllh food from approximately 96°A of Prel shops co11ecled by or distributed lo charities al the end of each
business day 12019.. 960/.l. We also donated over £1 m of surplus ingredients from our depot during the first
lockdown in March.
Over 120 homeless charities and shelters in London benefilled frorll food donations in 2020 12019: 1201. Food
distribution in London is via Pret's Charily Run with food being distributed 7 days a week, wllh 8 delivery routes
{2019'. 8 roulesl. The vans collect and dlslrSbule 16ftovor food from the shops lo homeless charities. Clean
Society manages thls operallon on behalf of The Pret Foundallon. Where th8 Foundation cannot collect unsold
food from a shop. il arranges for a regislared charity lo do so, thus avoiding unnecessary wasla golng lo landflll.
In regional shops food dislritiullon is serVi￿d by volunteers from local charities co-ordinated by a member of
The Prel Foundation learn.
2) The Rislng Stars and Shootlng Stars Programmes
The Rising Stars programme was esl8bllshed in 2008 and over 525 Rising Stars have Suc￿sSfullY graduated
since it began. Each Rising Star obtains a 14-week placement. with the goal b8lng that Ihis leads to a career
either within Prel or in another organisalion. Throughout the programme history graduation rates have been
very high12019.. 79°/01.
During 2020 however the programme was pul on hold. Whilst 7 Rising Stars were recnjiled on lo tha
progrAmm8, only 2 successfully graduated due lo the pandernic. The Prel Foundation ulilised the furlough
scheme durlng Ihls perlod for Ihosg alroady recruited on to the programme and Prel-A-Manager also supported
during this lime with the decision that Rising Stars would b8 prolèctèd from redLJndancy. Weekly support groups
continued Ihmughoul the year over Zoom. ensuring that peer support, and that of a resilience coach was still
available should it be required. We expect that those who were recrubled on lo the programme during the ¢ourse
of 2020 will resume their training once restrictions have lifted and graduate in 2021.
The Shooting Stars programrne was s81 up In 2015 and lo data over 45 people have been recruited on lo the
plogramme. Shoollng Stars allend numerous one day workshops allaining a National Apprenlice5hip - Level 2
in work skills. During 2020 no new Shooting Stars were recruited. One Shooting Star has successfully
graduated as a General Manager since the programme began.
3) Cash. Equlpmont and Food Donations
The Foundallon supports smaller, grass-rool chari1Ses with donations., cash. equipment or food donations. In
2020, 44 donations were made {2019'. 2111. Donations cover various prolecls and pay for support workers, rent,
course supplies, cotjnselling, and drop.in ￿nIres. Total donallons (including èquipment and foodl were £0.2m
{2019'. £0.8ml.
Nlna Allard loln8d lo head up Th& Prel Foundallon In 2020, managlng the actlvi1Ses of the Foundatlon ￿th a
team ol five full-lime people as directed by the Trustees.
Funds for the Foundalion significantly decreased in 2020, bul carne from three sOU￿S..
Product donatlons.. £431k, of which, £253k was ralsed frorn the 10p donations on Soup sales
alongside £178k generated from the Christmas Campaign Iwilh 50p donated from 6 Chrislmas products
sold). The ¢ampaSgn was prominent in every Prel shop window alongside strong in-shop and produ¢l
packaging communications.
Customer Donallons: £108k of in-shop donallons from customers, predomlnalely in Cash, however
The Pret Foundation Ss also starting lo roll out conlaclless polnls lo collect dlgilal donalions.
Other Donatlons- £2,262k, comprising a small number of significant donations as well as from Prat
employees through small-scale fundraising acllvill&s.

THE PRET FOUNDATION
REPORT OF THE TRUSTEES {continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
ACHIEVEMENTS AND PERFORMANCE {conNnuedl
4) Shelter
In 2018 The Pret Foundation identified a partner lo work with for this activity sI￿aM, Wesl London Mission, and
a sile lo convert, Sl. Luke's. The facility was opened in QI 2019, containing 26 bedrooms, a ¢ommunal kitchen,
living and garden areas, ready for CLJrrent or graduated Rising and Shooting Stars in need of accommodation in
exchange for a subsidised rent. This partnership ended on 1 February 2022. and the P￿1 Foundation will
explore other appropriate opportunities in the future.
In 2020 9 Rising or Shooting Starts resided al the Prel House12019,' 151. 4 su¢c8ssfully moved on lo privately
rented accommodation, 1 left The Prel House and 4 remained al tho end of th8 ygar.
FINANCIAL REVIEW
(al General
Gifts and donation paid have decreased since the previous year, from £730,166 last year to £190,717 this year.
Al 31 Oecember 2020. the lolal funds held by the Foundation was £2,016,12012019.. £517,366).
The Foundation has continued by good housekeeping and budgeting lo maintain a healthy balance sheet.
Expenditure was cul significantly in the year lo match th8 much redU￿d donation income. Sev¢ral significant
individual donations were received in the second half of 2020 and wlll halp tha Foundation lo continue ils
charitable activities for a significanl period.
The continuing use of budgets and regular fin8nclal infomlalion again proved an effective control,. expenditure
and staffing levals continue lo be carefully monitored.
Ibl Prlncipal fundlng sourcès
The Foundation's princlpal source of ongoing funding is the receipt of contribLJtions from Prgt A Mang8r
(Europe) Limi18d land ils cu8lomer81, who established the Foundation over twenty years ago. Both
organisalions continue lo operate closely together and senior managerll8nl of Prel A Nlanager (Europe) Limited
sils on the Board of Truslees and assists Pr81 A Manager IEuropel Limited in carrying out their continuing
commitment toward The Foulldalion's objectives.
The Foundatlon acknowledges the importance of good practice in fund raising as being essèntial in mainlalnlng
public confidence in the charity and are ¢ommilled lo ensuring all our activities are oompllanl with legislative,
regLJlatory and best praelice standards. The Foundallon does not use professional fundraisers.
{cl Reserves policy
Unreslricled funds are needed..
al to provlde fund8 whlch can bè deslgnated lo speclflc projects lo enable these prolecls lo be undertaken
al short nollc8,' and
bl to cover administration, ftjndraising and support costs wilhoul whlch the Foundation could not function.
The Trustees consider it pwdenl that unrestricted reserves should be sufficient:
cl lo provide a pool equal to 10¥fj of charitable expenditure from which funds ¢an be designated to specffic
projects,. and
dl lo cover one ye8Vs 8dminislralSon, fundraSsing and support costs.
As at 31 December 2020, unr8slri¢led reserves not invested in functional fixed assets were £1,824k, £1,477k
aLY)ve the minimum level.
The level of reserves is monilored and reviewed by the Trustees al each TTuslee meeting.

THE PRET FOUNDATION
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
PLANS FOR THE FUTURE
The Trustees aim lo continue lo develop the four key aclivilies.
l) Food Distribution
The Foundation will maintain dislribullon of unsold food from Prel A Manger shops lo charities, who provide the
food lo the homeless via shelters, hostels and outreach programmes.
2) The Rising Stars and Shootln9 Slars Programmes
For tha Rising Stars programme the aim In 2020 Is ¢onsislenl wllh the last few years with an objective of
employing Rlsing Stars across the country, aiming lor a 70% graduallon succ88s ral8.
For the Shooting Stars Progtarnme th8 oblg¢llv& Is lo select 7 Sh(x)ling Stars with a 100 % graduation success
ral&.
3) Cash, Equipment and Food Donations
The Foundation will continue lo work with existing benefiC￿aries, as well as Identifying and supporting other
small charities Ihal hav6 a dire¢l impact on hom&lessness and poverty.
The Foundation airns lo reflect the presence of Prel A Manger outside of London by ensuring a fair distribution
of resources to charities based in the UK regions.
4) Shelter
Ov8r the Course of Ihe year, the objectives are lo continue to èmbed effective ways of working lor thé Pret
House with partn8r West London Mission and lo lind the right tenants from within the Rising and Shoollng Stars
populations. and to evalua18 the success of this activity. This partnership ended on 1 February 2022, and the
Pret Foundalion will explore other appropriate opportunities in the future.
New Inltlatlves
In 2020 and continuing into 2021, the Foundallon focused on weathering the COVID-19 storm and prol8Cting ils
key objectives. As such, activities were reduced during the crlsis lo match a reduction in income durlng this
period. In 2021, the Foundation will be focussing on new fundraising activities so as lo ensure a sustainable
future.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees a￿ responsible for preparing Ihe Raport of the Trustees and the fin8ncial statements in
a¢¢ordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerBIIy
Accepltrd AccoLJnling Praclicel.
The law applicable lo charities in England and Wales requirtss the Trustees lo prepare financial slalemenlg for
each flnanclal year whlch glve a true and fair view of the slate of affalrs of Ihe Foundallon and of the incoming
resources and application of resourc8s of th8 Foundallon for the period. In preparing thes8 financlal stslemenls,
the trusl8es are requlred lo..
select suitable accounting policies and then apply them consislenily.,
observe the mtslhods and principles in the Charities SORP.,
make judgements and asllmales that are reasonable and prudent..
slal8 whether applicable accounting standards have been followed, subject to any departures disclosed
and explained in th& financial statements., and
prepare the financial sialemenls on a going concern basis unless it is inappropriate lo presume that the
Foundation will eontinue in business.

THE PRET FOUNDATION
REPORT OF THE TRUSTEES (contlnued)
FOR THE Y&4R ENDED 31 DECEMBER 2020
STATEMENT OF TRUSTEES. RESPONSIBILITIES {continued}
The Trustees are responsible for mainlalnlng proper accounting records which disclose with reasonable
accuracy al any time lh& financial position of the Foundation and which enable them to ensure that the financial
slalemenls comply wllh the Charities Acl 2011, Ihe Charity (Accounts and Reports) Regulations 2008,. and the
provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Foundation and
hence for taking reasonable steps for the prevention and detection of fraud and other Srragularllies.
In so far as the Trustees, indivldually, are aware..
There is no relev2nl audit information of which the Foundation's auditor is unaware-, and
The Trustees have taken all steps that ought lo have been taken to make th&ms&lves awar8 of any
relevant audit infomialion and lo establish that the auditor is aware of that information.
AUDITOR
A resolution lo reappoint RSM UK Audit LLF for the ensuring year will be proposod al the forthcoming Annual
General Meeting.
This report wa5 approved on behalf of tha Board of the Trustees on
on their behalf.
25th October 2022
and Slgned
A Wareham
Truste6
Dale..
2511012022

INDEPENDENT AUDITOR'S REPORT TO THE
TRUSTEES OF THE PRET FOUNDATION
Opinlon
We have audited the financlal slalemenls of The Prel Foundation {Ihe 'Foundalion'l for the year 6nded 31
December 2020 which comprise tha Slalemont of Financlal A¢livilies, Balance Sheet. Ihe Stalemenl ol Cash
Flows and notes lo the financial slaternenls. induding significant a¢counllng policies. The financial reporting
framework that has been applied in their preparation is appllcable law and United Kingdom Accounting
Standards, including FRS 102 'The Financial Reporting Standard appliGable in the UK and Republic of Ireland"
Iuniled Kingdom Generally AGcepl&d A¢¢ounling Pra¢li¢el.
In our opinSon the fbnanclal slalèments..
give a true and fair view of the slate of the charlly'5 affairs as 8131 De￿mber 2020 and of ils incomlng
resources Bnd application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally A¢cepl8d Accounting Practice.,
and
have been prepared in accordanc& wllh the requlremenls ol the Charities and Trustee Investment
(Scollandl Act 2005, r￿UlatIOn 8 of the Charities Accounts Iscollandl Regulations 2006 las amended) and
the Charities Act 2011.
Basls for oplnion
We have baen appolnled audltors under secllon 4411 Ilcl of the Charllias and Tru8188 Invèslmènl (Scollandl Act
2005 and under secllon 144 of the Chari1S6s Act 2011 and report in accordance with regulations made und8r
those Acts.
We conducted our audit in accordance with Inlemalional Stancsards on Auditing IUKI IISAs IUKII and applicable
law. Our responsibilities under those standards are further desaribed in the Auditor's responsibilities for the audit
of the financial slalernenls section of our rtsport. We are independent of the in accordance with the ethical
requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical
Slanéard and we have fulfilled our other ethical responsibilities in 8¢¢ordance with these requirements. We
believ8 that Ihtr avdil evldence we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclusions rèlating to going concern
In auditing the financial statements, we have concluded that the Iruslees, use of tha going concern basis of
accounting in the preparallon of the financial slalements is approprtale.
Based on the work we have performed, we have not Idenllfled any material uncertainties relating to events or
tondiuons Ihal, individually or collectively, rnay cast significant doubl on thè charity's ability lo continue as a
golng con¢&rn fr)r a parlod of at least twelve months from when the flnanclal slalements are aulhorised for
issue.
Our r¢sponsibillties and the responsibllilies of the Iruslees wllh respe¢l to golng concom arg dfjscribed in the
relevant s8cllons of Ihls report.
other infomiation
The other information comprises the inforfflallon includtsd in the annual report other than the financial
slalem6nls and our audSlor's report Ihereon. The trustees are responsible for the other information contained
within the Rgport of the Trustees. Our opinion on thè financial statements does not cover the other information
and, we do not express any form of a$sur8nce canclusion thereon.
Our responsibllily is lo read the other Informallon and, in dolng so, consider whether th8 Other Inforrnalion is
malerlally Inconslsl8nl wllh the finanolal statements or our knowledge oblalned In the course of the audit or
otherwise appears lo be malerlally misslaled. If we identify such material inconsistencies or apparsnl rnalerial
misstalements, we are requiied lo determine whether this gives iise lo h malerial misslalemenl in the financial
statements themselves. If, based on the work we have psrfomed, we conclude that there is a malerlal
misslalement of this other information. we are required lo report that fact.
We have nothing lo report in this regard.

INDEPENDENT AUDITOR'S REPORT TO THE
TRUSTEES OF THE PRET FOUNDATION Icontinuedl
Matters on whl¢h we are required to report by oxceplion
We have nothing lo report in respe¢l ol the following Inallers where the ChBrilles Accounts (Scollandl
Regulations 2006 las amended) 8nd the Charities Act 2011 require us lo report lo you If, in our opinion..
the information given in the financial slalements is inconslslenl in any material respect with the trustees.
annual report., or
proper and sufficient accounting records have not been kept., or
the financial stalemenls are not in agreement with the accounting records and relums,, or
we have not received all the inlormallon and explanallons we requlre for our audll.
Responsibilities of Trustees
As explained more fully In the slalemenl of Iruslees, responsibilities set out on pages 5 and 6 the Iruslees are
responsible for the prepafalion of the financial slalemenls and for btring satisfied that they give a true and fair
view, and for such internal control 2s the trustees determine Is necessary lo enable the preparation of financial
slalemenls that are free Irom material miss¢atemenl, whether due lo fraud or error.
In preparing the financial slalernenls, Ihe trustees are responsible for assessing the charily's abilily lo continu&
as a going concern, disclosing, as applicablè, matt8rs r8laled lo going concern and using the going concern
basls ol accounlSng unless the trustees ellher Inl¢nd lo Ilquldale the charity or lo cease operations, or hÈvè no
realistic allernatlve bul lo do so.
Audllorfs responsibilities for the audlt of the flnanclal statements
Our oblecllves are lo obtain reasonable assurance about whether the financial statements as a whole are fre8
from material misstatement. whether due lo fraud or error, and to ISSU8 8n audltor's report that includes our
oplnion. Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conducted in
accordan¢e wllh ISAS IUKI will always detect a material misslalement when il exists. Miss121emenls can arise
from fraud or error and are considered malerlal if, individually or in the aggregate, they could reasonably be
expected lo Influen￿ the economi¢ decisions of users taken on the basis of these financlal slalomtrnls.
The extent to whlch the audit was considered capable of dtrttrcting irregularities, including fraud
Irregularities are install￿S of non-compliance with laws and regulallons. The objectives of our audit are lo
oblaln sufflcienl appropriate audit evidence regarding Compliance with laws and regulations that have a direct
effect on the determination of maltsrial amounts and disclosures in the financial slalemenls, lo perform audit
procedures lo help idenllfy Install￿S of non-compliance with other laws and regulations that may have a
material 8ffè¢l on the financial siatemenls, and to raspond appropriately lo identified or suspected non-
complian¢$ wllh laws and regulations idents'fied during the audS1.
In relallon to fraud, the oblécllvas of our audll are to Identify and assess the rfsk of malerlal mlsstalerllent of the
finandal slal&m&nts due lo fraud. lo obtain sufflcienl approprlale audit evldence regardlng the assessed risks of
malerlal mlsslalemenl due lo fraud through deslgnlng and Implemenllng appropriat8 responses 8nd to respond
appropriately lo fraud or suspected fraud idenllfied during the audit.
However, il is the primary resp(>nslbillty of management, with the oversight of those charged with governance. lo
ensure that the enllly's operations are conducted in accordan￿ with the provIS￿nS of laws and regulations and
for the prevention and detection of fraud.
In identifying and assesslng risks of material misslalernenl in respect of Irregularllles, including fraud, the audit
engagement team..
obtained an understanding of the nature of the sector, including the legal and regulatory framework that the
charity operates in and how the charity are complying with the legal and regulatory framework.,
inquired of management, and those charged with govemance, aboul their own idenlificalion and
assessment of the risks of irregularities, including any known a¢lual, suspected or alleged instances of
fraud.,
discussed mallers about non-¢ompllanc& with laws and regulab'ons and how fraud might occur including
assessment of how and where the financial statements may be suseeptible lo fraud.

INDEPENDENT AUDITOR'S REPORT TO THE
TRUSTEES OF THE PRET FOUNDATION {continuedl
As a result of these procedures we consider the mosl significant laws and regulations that have a direct and
Indirect Impact on tho financial s18lemenls are FRS 102, Charilies SORP IFRS 1021, Charities and Trustee
Inveslmenl (Scollandl Act 2005, regulation 8 of the Charities Accounts Iscollandl Regulations 2006 las
amended), the Charities Act 2011, the charity's governing document and tax legislation. We performed 8udil
procedures to detect non-compliances which may have a material impact on the financial slalements whSch
included revlewlng the lin8nclal $181emanls including the Tru$lees' Report, remaining alert lo new or unusual
transacllons whlch may not b8 In accordance wlth the governing documents, inspecting ¢orresponden¢e with
local lax authorltles and evaluallng advice received from inlernallexlernal advisors.
The audit engagement team identified the risk of management overrlde of controls as tha 8rea where the
financial slalemenls were most susceptible lo rnalerial misstalemenl due to fraud. Audit pro¢edur8s performed
included bul were not limited lo testing manual journal entries and other adjuslmenls and evaluating the
buslnoss rallonale In relation lo signifieAnl, unusual transactions and transactions entered into outside the
normal course of business challenglng ludgmenls and esllmale8.
A further d8scriplion of our responsibilities for the audit of the financial slalemenls is located on the Financial
R8POrting Coun¢S1's websitè al hll '.Ilwww.frc.or
.LJklauditorsres
onsibililies. This description forms part of our
auditor's report.
Usè of our report
Thls r$port Is made Solely lo th8 charity's Irusle88, as 8 body, in ao¢ordanoe with section 4411llcl of the
Charities and Truste8 Inveslmsnl IS¢ollandl Act 2005, 8nd r8gulallon 10 of tha Charities Accounls (Scollandl
Regulations 2006 las amended) and the Charities Act 2011. Our audll work has been undertaken $0 that we
might stala lo thè charity's trustees those matters we are required to slate lo Ihem in an auditor's report and lor
no other purpose. To the fullest extent pemiiltad by law. we do not accept or assume responsibility lo anyone
other than the charity and Ils Iruslees as a body. for our audll work. lor Ihls report, oy fo¥ the opinions we have
formed.
LI14 u¢ I,I,è LLI
RSM UK Audit LLP
St2lulory Auditor
Chartered Accounlanls
Rivermead House
7 Lawls Court
Grove Park
Leicester
Leicestershlre
LE19 1SD
Dale..
2811012022
RSM UK Audll LLP Is ellglble lo act as an aUd￿Or in terms of section 1212 of the Companies Act 2006.

THE PRET FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
Unrestricted funds
2020
2019
Notes
Income from:
Donations
Investment Sncome
4 lal
41bl
2.801,935
599
2,208,795
703
Total
2,802.534
2,209,498
Expendlture on..
Charitable activities
51al
1,303,780
2.183,823
Total
1,303,780
2,183,823
Net movement In funds
1,498,754
25,675
Rèconclllatlon of funds:
Total funds brought fonNard
517,366
491,691
Total funds carrled forward
2,016,120
517.366
The Stalem6nl of Flnancial Activities indudes all gains and losses rewgnised In the year.
All Income and expenditure derNe from continuing operations.
10

THE PRET FOUNDATION
BALANCE SHEET
AT 31 DECEMBER 2020
Notes
2020
2020
2019
2019
Fixed assets:
Tangible assets
191,756
252,557
Current assets:
Debtors
Cash at bank and in hand
10
186,076
1,818,964
120,180
269,798
Totsl current as8818
2,005,040
389,978
Llabilitle$:
Creditors.. amounts falling due within one year
1180,6761
1125,1691
Nel Current assets
1,824,364
264,809
Total nèt ass•ts
2,016,120
517,366
The funds of the ¢harlty'.
Unrestricted funds
2.016.120
517,366
These financial slalemenls on pages 10 10 21 were approved by the Trustees and aulhodsed for issue on
and signed on Ihtrir behalf by..
C Schlee
Truste8
11

THE PRET FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
Notè
2020
2019
Cash flows from operating activities:
N&1 cash provided by operating activities
14 1,548,567
366,864
Cash flows from Investlng actlvltles..
Invastmenl Income
Purchase of tangible fixed assets
599
703
1116,1511
Net cash provlded byllused Inl Investlng activities
599
1115,4481
Change in cash and cash equivalents in the reporting period
1.549,166
251,416
Cash and cash •qUFvalents at the beginning of tha
reportlng period
269,798
18.382
Cash and cash equivalents at the end of the reporting perlod
1,818,964
269,798
12

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Legal status of the Charitable Foundatlon
The Pret Foundation is an unincorporated charitable Foundation registered as a Charlly at the Charity
Commlssion in England and Wales Icharlly Commlsslon numbor Is 10501951 and from 29 September
2020 was also registered as a Charity with the Scollish Charity Regulator Icharirty Commisssion number
is SG0505011. The prlnclpal place of buslness is Prel A Manger, 10 Bressenden Plac8. London, SW1 E
5DH.
The remit of the Foundallon is "the rellef of poverty In partfcular homelessness In the UK.. Hislorfcally. Ihls
has been achbeved through the distribulion of unsold food al the end of each day from Pr&1 A Manger
shops. erllployrnenl programmes offering work lo homeless people and financial donations to grass root
homeless partner charities.
Accountlng pollcles
Basis of preparation
The financial slalemenls have be6n prèpared under the historical cost convention with items rewgnised
at cost or transaction value unless otherwise slated In the relevant notes lo these accounts. The financial
stalèmenls hav$ b$en prepared in accordance with Slalement of Recommended Practice.. AccounlSng
and Reporiing by Charities preparing their a¢¢ounls in 8ccordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 and the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, Charities and
Trustee Investment Iscollandl Act 2005, regulation 8 ol the Charities Accounts (Scotlandl Regulations
2006 {as amended) and the Charities Aat 2011 and UK Generally Accepted Practic& as It applies from 1
January 2015.
The financial statements have been prepared to give a 'lrue and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required lo provlde 'lrue and fair
view,. This d8Parturg has involvad following Accounting and Reporting by Charities preparing their
accounts in accordance with the Flnancial Raporting Standard applicable in the UK and Republlc of
Ir8land {FRS1021 issued on 16 July 2014, including the adoption of the amendrllents issued in October
2019, rather than th8 Accounllng and Rèporting by Charities.. Slalemenl of Recommended PracliG
effective from 1 April 2005 which has since been wllhdrawn.
The financlal sl8lem8nls are prepar6d In sterling, whl¢h is the functlonal currency of the Foundation.
Monetary amounts in these flnandal slal8m8nls aro rounded to thg nearfjst £.
Thg Prel Foundation meBts the definition of a public benefit enllty under FRS 102. Assets and IiBbilities
are initially recognised at hisloriGal cosl unless othenNise slated in the relevant accounting pollcy notes.
Golng concern
Al the lime of approving the financial slatemenls, the Injstees continue lo adopt the going concern basis
of accounting in preparing the financial slalements. Following the uncertainly presented by COVID-19, a
detailed review ol Ihe Foundation's resources and challttnges presented by the current economic clirnale
has been undertaken, Based on the Foundation'5 abllily lo flex and control ils expendilure dependent on
income levels and ils strong cash reserves, Iruslees have concluded that the going concern basis
remains appropriate and that the Foundation is able lo meet Ils liabllllles as they fall due. The Iruslees
make this assessment in iespecl of a period of at least one year from th8 dale of aulhorfsallon for issue of
the financial slalemenls and have concludèd Ihal the Foundallon has adequate resources lo continue in
Opgrational existence for the foreseeable future and there are no material uncertainties aboLJI the Irusl's
ablllly lo wnlSnue as a golng ¢oncern.

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
Accountlng pollcies (continued)
Income
All Income is recognised once the Foundation has entillement to the funds, any pgrformance conditions
attached lo the ilernlsl ol Income have boen mel.11 Is probable that the income will be received and the
amount can be measured reliably.
Inwme from donallons, Includlng glfts ale recognised where there is enlillemenl, probability of
receipt and the amount can be measured reliably.
Inve8lm8nt income Is recognisad on 2 receDiable basis.
Funds
Unreslrfcled funds aré avallable for use al the discretion of the Trustees In furtherance of the chadtsble
obl8clives ol the Foundation.
Expendlturo and irrecoverable VAT
Expenditure is recognised once there is a legal or conslrucllve obllgation lo make a payment lo a third
party, il is probable that settlement will be required and the amount of obligation Can be measured
reliab￿.
Expenditure Is classifled under charitable aclSvity rather than the typ& of expense, In order lo provlde
more useful information to users of th8 financlal slal8tnents.
cha￿table activity costs comprise both d1￿cl expenditure, Including dlrect staff costs altdbUlab￿ lo the
aclivily, and support costs re181ing lo Ih8se aclivilies.
As The Prel Foundation Is unable lo reclaim any of the Valuo Addsd Tax IVATI that it Incurs, all 8xpendllur8
In these flnaneAal stalem¢nls in relallon lo acllvllltss Is shown Inclusive of any VAT whlch cannot be
recovered.
Fixed assets
Tanglble fixed assets are initially recorded at cost and subsequently measured at cost, nel of depreciallon
and any impairment losses. Tangible fixed assets with a cost price in excess £1.000 are capilalised and
all other expendllure is charged lo the slalemenl of finanoial activities.
Depreciation is recognised so as to wrllo off the ￿st of assets less their residual values over their useful
Ilvès on th8 followlng basls..
Fixture8 4nd fithngs
over 5 years
The oaln or loss arlsffing on thè dlspos81 of an assells delermlned as the difference between the sale
proceeds and the carrylng value of the asset and ￿S credlled or charged to slalement of financial activlligs.
Impairment of fixed assets
An assessment is made al each reporting dale of whether there are indications that 8 flx8d asset may be
Impaired or that an impalm¢nl loss prevlously rtscognised has fulw or partially reversed. If such
indications exlsl, the Trust eslimalgs the recoverable amount of the asset.
Shortralls between the ¢arrying value of fix6d assols and thèir recoverable amounts. being the higher of
falr value less costs to 5811 and value-in-use, are recognised as impairment losses. Impairment losses are
Tecognised in slalemenl of financial aclivilies.
14

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
Accounting policies (continued)
Impairment of flxed assets (conllnued)
R8cognised impairment losses a￿ reversed il, an only if, the reasons for the impairment loss have
ceased lo apply. Reversals of impalrmenl losses are recognised in statement of financial activities. On
reversal of an impairmenl losss, the depreciation is adjusted lo allocate the asset's revlsed carrylng
amount (less any resldual valu81 ovér Its ramaining useful life.
Flnan¢lal Instruments
The Foundation only has financial assets and liabSllU8s ol a kind that qualify as basic financial inslrumenis
and are not considered lo be ol financi81 nature. Such financial instruments are initially recognised al
Iransadion value and subsequently measured at their selllemenl value.
Debtors
Olh8r debtors whlch ara rac&￿VAble within one year and which do not conslitule a finandng Iransacllon ar8
initially measured 81 the transa¢llon price. Other debtors are subsequently measured al amortised ¢osl,
being the transaction price less any amounts sèttléd and any impairment losses.
Cash at bank and In hand
Cash al bank and In hand Includes cash and monltss on short term doposils al the bank. other short-lerm
Ilquid investments with original malurilies of three months or less.
Creditors
Creditors are recognised where the T￿st has a present ob11galion resulllng from a past event that will
probably result in the transfer ol funds lo a third party and the amount dus lo s&lllo the obligation ¢an be
measured or esllmaled reliably. Creditors are nOrrnal￿ reccKJnised al their settlement amount.
Taxation
The Foundation is a registered ch8rily and accordingly is exempt fiom laxalion on ils incorne and galns
where they are applièd for d)arilabl6 purposes.
Ponslon
For defined contribution schemes the amount charged lo tho Statement of Financial Activities is the
contributions payable in the year. Differences beiween contributions payable in the year and contributions
8Ctually paid are shown as either accruals or prepayments.
Crltlcal accountlng estimates and areas of judgement
Estimates and judgements are conllnually evaluated and are based on historical experience and other
factors, including expectations of future events that are b81iev8 lo be reasonable under the circumstances.
Ther6 are no critical accounting estimates and areas of judgement to note.
15

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2020
Analysis of Incoma
{al Donatlons
2020
2019
Don8tlons recelved
2,801,935
2,208,795
Ibl Investment income
2020
2019
In18resl receivab18
599
703
Analysis of expendlture In¢urred by The Pret Foundatlon
The Trust fulfilled its charitable purposes by picking up unsold food from Prel A Manger shops throughout
the UK and delivering il lo other charllies that assisl with the relief of povetty. In other instances the
Foundation made cash grants as the Trustees saw fil. The accounts do not include the monetary value of
the unsold food collected and distributed from the Prel A Manger shops as ihe Trustees believe that the
food has no monetary valu8 by virtu& of it being unsold.
(al Charltable activities
The Rising
Cash,
stars and •qulpmènt
Food Shooting Stars
and food
dlstrfbutions
programmès
donatltsns
Total
2020
Total
2019
Shelter
GSfts and donallons
(See note 5lcll
Food delwery costs
Apprenticeship costs
Sheltèr ¢osts
Food donallons
Equipment donations
Support costs
(See note 5lbll
190,717
190,717 730,166
706,578
706.578 690,202
54,236 161,628
121,141 195.320
3,762
39,254
10,715
54,198
216,631 313,055
54,236
121,141
3.762
10.715
57,51S
57,519
89,642
11,951
764,097
143,878
262,713
133,092 1,303,780 2,183,823
Ib) Support costs
The Rising
Cash,
Stars and equipment
Food Shooting Stars
and food
dlstrlbutlons
programmes
donatlons
Total
2020
Total
2019
Shelter
Staff costs
{See note 61
Charlly sile vislts
Team expenses
Bank charges
Audit and accounting fèes 14,660
Consultancy costs
1,569
Other co$ls
1,130
37,624
67,723
37,624
7,525
150.496 238.219
18,193
42,050
206
14.387
2,529
4,554
2,530
506
10,119
22
47,289
5,060
3.645
14.660
1,569
1,130
14.659
1,569
1,130
3,310
353
255
57,519
89,642
57,519
11,951
216,631 313.055
Support costs are allocated on a basis consistent wllh the actlvSlles of the Trust.
16

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
Analysls of expendllure In¢urréd by The Prèt Foundation (¢ontlnued)
Icl Gifts and donations
Noof
gifts
Noof
gifts
2020
2019
The Foundab'on has made the following gifts of £5.000
or more..
The 999 Club
The Clock Tower Sanctuary
Emmanuel House Day Centre
Salford Loaves & Flshes
240 Project
GardtK>ard Gilizens
Action Homeless Leiceslar
Glasgow City Mission
Nolra Dama R8fugée Cenlrè
Shelter from the Storm
The Choir with No Name
Acllng on Impulse
Albert Kennedy Trust
Genesls Trust
lackney Doorways
AKr
Asplre Oxford Communlty Entèrprise Ltd
London City Mission
Nolre Dawe de France Trust
Off the Fence Trust
Barllabas
Bridges Pro1￿1
Crisis Centre Minisleries
Glass Door
Firm Foundation
Manchester City Mission
Bethany Christian Trust
Corllerstone Manchester
Accu¢ll Ozanam Madelelne
Manna Islington
Olallo
InHope
10,000
15,628
21.000
17,500
10,928
22,500
16,500
7,914
10,028
6,520
20.862
7,300
8.512
7.700
10.000
5,OOC>
10.000
10,000
10,000
11,750
18,352
17,396
12,370
9,360
7.50D
24,785
12,645
6.358
10,000
17,160
5,360
12,027
8,225
11,000
10,000
10,000
7.000
8,117
10,000
10,000
10,000
12,000
40,000
Sublolal Iconllnued on following pag81
14
127,817
29
401,480

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
Analysls of expendlture Incurred by Tho Pret Foundation {GonlinuedJ
Icl Glfts and donations (continued)
Noof
glfts
Noof
gifts
2020
2019
The Foundation has made the followng gifts of £5,000 or
more Icontinuedl..
Subtotal brought forward from prior page
14 127,817
29
401,480
Vlneyard Community Centre
Hlnde Sl Melhodlsl Church
The Upper Room
Ace of Clubs
Sl Cuthbetfs Centre
ASLAN
FCENS
The Margins Project
Fareshare
The Suited and Booled Centre
Brlxlon Soup Kltchen
Caring in Bristol
Casllemilk Community Church
Chellenham Open Door
Crawley House, Crawley
Hope Housing Tmining and Support Limited
aggs Day Centre
Pelerborough Soup Kitchen
The Friary
The People's Kllchen
The Vineyard Arches Trust
Breaking Barrlers
C4WS
Street Connect
Sl Pelrock's
Imagine If l Trust
Harrow Law Centre
The Food Chain
Th8 Runnlng Charity
Wycome Homeless Projects
Other amounts less than £5,000
6,860
9,770
9.800
17,394
15,487
18,880
12,680
16.500
18.000
11,863
7,500
5,000
15,000
9,007
6,200
6.500
8.000
7.800
8,000
9,045
5.500
9,982
8,752
12,000
6,500
6,000
5.000
14,800
5,500
5,460
5.000
31,766
10,000
8,500
10.000
5,ClOO
10,000
5,000
7,540
Total
25 190,717
136
730,166
18

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS (conlinuedl
FOR THE YEAR ENDED 31 DECEMBER 202
Analysis of staff costs and numbèrs
Total staff emoluments for the year were as follows..
2020
2019
W8ges and $818ries
Social security costs
Pension contributions
126,985
19.732
3.779
209,282
24,039
4,898
150,496
238,219
These ￿SIS relate lo Ihg relmbursemenl of wages and salaries by the Foundation lo Prot A Manger
IEuropel Limited, for the lime incurred by employees of Prol A Mangsr (Europe) Limlled on the
Foundation's acliviti&s.
The wages and salaries of £126,985 is nel of CJRS grants received of £17,143 by Pret A Manger
(Europe) Lirnited for the employees that incurred time on the Foundatlon's aclivilies.
The average number of empbyees whose wages were recharged lo the Foundation during the year were
512019.. 61.
No employees a￿ PBid through the Foundation and no Omployees or Trustees were paid in excess of
£60,000 in the year {2019'. £NIII.
Trustees, remuneratlon and expenses and costs of kay management personnel
No Trusteè racèivèd any remuneration or payrnenl for expenses during the year12019'. £Nil).
The Foundatlon considers Ihal the only key management are the Trustees and Chlef Executlve Officer,
and these personnel are not remunerated during this year or the prior y8ar by th& Foundation.
Auditors remuneration
Fees payable lo RSM UK Audit LLP and its associates in respect of both audit and non-audil services are
as follows..
2020
2019
Audit rÈmunerallon- 2020 audit
Audll retnuneralion 2019 audit
Other services..
All other non-audil services - 2020
All oth8r non-8udil sérvlcés 2019
23,400
8,400
11,400
4,200
2,400
3.000
38,400
14,400
19

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2020
Tanglble flxed assets
Flxtures
and
fittings
Total
Cost
Al 1 January 2020 and al 31 December 2020
304,004
304,004
Dapreciation and impainnent
At 1 January 2020
Charged in tha year
57,447
60,801
51,447
60,801
Al 31 December 2020
112,248
112,248
Carrying amount
Al 31 December 2020
191.756
191,756
At 31 December 2019
252,557
252,557
Debtors
2020
2019
Other debtors Inole 121
Prepayments and a¢¢rued Sn¢ome
186,076
120,180
186,076
120,180
11
Crèdltors.. amounts falllng due wlth5n one year
2020
2019
Trade credllors
Other credllors (note 121
Accruals
153,076
66,362
58,807
27,600
180,676
125,169
20

THE PRET FOUNDATION
NOTES TO THE ACCOUNTS Icontinuedl
FOR THE YEAR ENDED 31 DECEMBER 2020
12 Related party Ir3nsaetions
The main related party to the Foundation is Prel A Manger (Europe) Limited, a Company which operates
chain of food retain oullels across the United Kingdom. Donations during the year were from Prel A
Manger IEurope) Limited. The value of donallons r8¢eived via Prel A Manger IEurope} Limited are
£431.46712019.' £1,345,035). The Trustees are selected from the senior management ol Prel A Manger
(Europe) Limited.
During the year, the FoLJndalion was charged £150,49612019.' £238,219) in salary costs, for lime incurred
by Prel A Manger {ELJropel Limi18d employees on the Foundabon's activities, which was nel of £17,143 01
CJRS grants received by Pret A Manger (Europe) Llmiled for those employees. During the year Prtrt A
Manger IEurop81 Limited also made payments on behalf of The Prel Found8tion ol costs which were then
recharged lo the Foundation of £503,302 12019,, £1,017,928) and al 31 Decembèr 2020 the Foundation
was owed by Prèl A Manager (Europe) Limited £186,07612019.' £66,362 was owed by th8 Foundation lo
Prel Europe).
During the year, the Foundation re¢eivod a donation from JAB Holding Company Limlled of £1,877,237
12019.. £nil}, who are the owners ol Prel A Manger (Europe) Limited.
In the prior year, Prel A Manger (Europe) Limited commiled lo donating £120,000 which was included
within aCcu￿ed income al the prior year end.
During the year, the Foundation received donations amounllng lo £350,000 (2020.. £nill from two
founders of Prel.
Al 31 December 2020, £5,060 {2019'. £nill was owed by the Foundallon lo The S&R Coaching
Consultsncy Ltd, an enlily owned by one of the Foundation's Trustees. D. McDermott.
13
ultimate controlllng party
Tho Iruslees do not consider that there Is any one conlrolling party.
14
Reconciliation of n8t Income to net cashflow from operating actlvStles
2020
2019
Net income for the reportlng p8riod
1,498,754
25,675
Adjustmènls for:
Depreciallon
Investment income
Ilncreaselldecrease in debtors
Increaselldecreasel in creditors
0,801
51,447
15991
17031
165,8961 464,991
55,507
1174.5461
Net cash provldèd by operating activities
1.$48,567
366,864
15
Post bal8ncè shfjgt event
Since th& year end, the Foundation and Wesl London MissDn have terminated their agreement wllh
respecl lo Prel House.
21