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← The Cadbury Foundation

2024-12-31-accounts

The Cadbury Foundation

Annual Report and Financial Statements for the year ended 31 December 2024

Registered Charity Number 1050482

1

The Cadbury Foundation
Registered Charity Number 1050482
Financial statements
For the year ended 31 December 2024
Report of the Trustees 3
Independent auditors’ report to the Trustees of The Cadbury Foundation 10
Statement of financial activities 13
Statement of financial position 14
Statement of cash flows 15
Notes to the financial statements for the year ended 31 December 2024 16

2

The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees For the year ended 31 December 2024

The Trustees of The Cadbury Foundation (the ‘Foundation’) present their annual report along with the audited financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charity’s trust deed and applicable law.

Reference and Administrative Details of the Charity, its Trustees and Advisors

The Principal Deed is an Indenture dated 19 June 1935 between Cadbury Brothers Limited and the original Trustees who were to "stand possessed of the Trust Fund upon trust to apply the whole or any part of the Capital thereof and any income arising thereupon for such charitable purposes as they in their uncontrolled discretion may think fit".

Following the merger of Cadbury Group Limited (the then parent company of Cadbury Brothers Limited) and Schweppes Limited, Cadbury Schweppes Limited (subsequently renamed Cadbury Schweppes plc) took on the rights and obligations of Cadbury Brothers Limited under the Principal Deed and subsequent supplemental deeds by a Deed of Assignment of Charitable Covenants dated 23 June 1970. From that date the trust operated as the "Cadbury Schweppes Charitable Trust".

By a resolution of the Trustees dated 25 October 1994 and with effect from that date the Cadbury Schweppes Charitable Trust became known as "The Cadbury Schweppes Foundation”. It became a Registered Charity (No. 1050482) with effect from 10 November 1995.

On 2 May 2008, Cadbury Schweppes plc was renamed Cadbury Holdings Limited and became a wholly owned subsidiary of Cadbury plc. From this date “The Cadbury Schweppes Foundation” was renamed as “The Cadbury Foundation”. On 2 February 2010, Kraft Foods Inc. gained control of Cadbury plc which was re-registered as a limited company of 4 June 2010 and renamed Cadbury Limited on that date.

On 1 October 2012 Kraft Foods Inc. completed the spin-off of its North American grocery business as a separately listed entity Kraft Foods Group Inc. The remaining global snacks group was renamed Mondelez International Inc.

On 29th April 2013 Cadbury Holdings Limited was renamed Mondelez UK Holdings & Services Limited.

Trustees

By the terms of the Principal Deed, the power of appointing a new Trustee or Trustees is vested in Mondelez UK Holdings & Services Limited (the “company”).

The following acted as Trustees during the year ended 31 December 2024 and to the date of the financial statements being approved unless otherwise stated:

3

The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Reference and Administrative Details of the Charity, its Trustees and Advisors (continued)

Principal Office

The administration of the Foundation is based in the offices of the company at Bournville Place, Bournville Lane, Bournville, Birmingham, B30 2HP. The administrative costs of the Foundation are met by the company as part of its Community Affairs Programme.

Bankers Citibank Na Citigroup Centre Canary Wharf London E14 5LB

Independent Auditors PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors One Chamberlain Square Birmingham, B3 3AX

Solicitors DLA Piper 3 Noble Street London, EC2V 7EE

Objectives and Activities for the Public Benefit

The Cadbury Foundation invests in local communities in which it operates so that where possible donations can be further supported by colleagues volunteering their time, skills and gifts in kind.

Grants are made by the Trustees whose current focus is on the following four pillars:

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The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Strategy

The Trustees have made the decision to continue to focus on these four pillars, with a particular emphasis on health and wellbeing. Funding will be granted to selected projects where company employees can be directly involved in areas located near to the company’s sites.

Flagship charities which are strongly aligned with the Foundation’s themes usually receive larger donations of up to £100,000, whilst smaller grants between £5,000 and £25,000 are made when agreed to by the Trustees. Increasingly grants are made for specific projects to achieve identified objectives on an agreed timescale. This allows for proper evaluation and can be the basis for effective partnership over a number of years. All flagship partners and programmes work towards mutually agreed impact KPI’s which are reviewed via a progress report on a half and full year basis by the Trustees. In addition, the community affairs manager and various Trustees maintain a close working relationship with flagship partners and programmes throughout the term of the funding. The impact of the Foundation is communicated on an annual basis through the company communication channels.

Grant making policy

The Trustees’ approach is to actively seek projects to support rather than accepting unsolicited applications. It is partly the elimination of “token” grants in response to applications that has enabled the Foundation to provide more substantial support in its chosen areas of activity.

In considering projects for support, the Foundation focuses on those projects which are likely to have a maximum community benefit. The Foundation is guided in making its selections for grant-giving by the demonstration of factors such as genuine community need, benefit for ‘at risk’ client groups or areas of social deprivation and those who will obtain the maximum community benefit from an association with the charity.

The Foundation also works with major community partners to develop clear objectives and assess outcomes. Outcome measurements might include: number of people reached by the project, improvement in performance levels, evaluation rating by recipients, impact of the charity’s involvement and community partner efficiency.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant-making policy for the year.

Financial Review for 2024

The unrestricted grants programme outlined above and totalling £685,815 (2023: £791,459) was largely funded by a donation from the company of £600,000 (2023: £600,000) and additional donations of £nil (2023: £4,670). There were no restricted grants programme payments during 2024 (2023: £Nil).

The company also provided donated administration services totalling £59,854 (2023: £52,545). A surplus at 31 December 2024 of £179,720 (2023: £265,576 surplus) was carried forward for the 2024 general grants programme, and a surplus of £74,385 (2023: £74,285 surplus) for Ghana: for the Source – now Cocoa Life programme.

Reserves Policy

It is the policy of the Foundation to maintain the solvency of the Foundation. All expenses are allocated upon receipt of the annual donation from the company and are reviewed on an annual basis.

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The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Achievements and Performance

During 2024 the Foundation made grants totalling £685,815 (2023: £791,459) of which £20,765 (2023 £Nil) were committed at the end of 2024. Of this expenditure, £685,815 (2023: £791,459) was from unrestricted funds and £Nil (2023: £Nil) was from restricted funds. The grants made are listed in Note 5 to the financial statements. Grants to the largest beneficiary accounted for 19.9% (2023: 30.7%) of the overall total.

Grants - largest recipient 2024 2023
Fareshare
Health for Life in Primary Schools		 £
% of Donation
-
-
136,216
19.9%		 £
% of Donation
243,282
30.7%
-
-
Grants were allocated by type of project as
follows:		 £
% of Donation		 £
% of Donation
Skills
Health and Wellbeing
Colleague Passions		 50,000
7.3%
531,480
77.5%
104,335
15.2%		 85,165
10.8%
551,860
69.7%
154,434
19.5%
TOTAL 685,815
100%		 791,459
100%

Trustees have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

The Foundation has no endowments but is primarily funded by an annual donation from the company.

The Foundation complies with the requirements of the Charities SORP (FRS102).

Risk Management

The Trustees have examined the major strategic, business and operational risks which the Foundation faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Financial sustainability is the major financial risk for the Foundation. This is actively managed by regular review of both available liquid funds and donations committed to be made by the Foundation.

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The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Going concern

In consideration of the going concern basis of preparation, the Trustees have forecasted the likely cashflows, and hence liquidity, of the Foundation based on the latest review of the charity’s activities throughout the going concern period. Due to the nature of the entity, the Foundation is not directly exposed to trading fluctuations, however non-trading activities which have associated cash inflows and outflows have been considered.

The Trustees have also considered the extent of potential severe but plausible downsides, such as a reduction in value of the annual donation from the company, however they do not consider these events would give rise to going concern implications for the company.

The Foundation relies for a very substantial portion of its income on donations from the company, the level of which is determined based on a funding plan which is reviewed on a yearly basis. Although in practice this funding plan provides the Foundation with a high degree of predictability as to the level of its future incoming resources, the Foundation has no legally enforceable right to receive these donations until they have been formally approved by the company. It follows that should the company decide to cease making these donations the Foundation would suffer a severe decrease in the resources available to it and in its ability to pursue these objectives.

The Trustees have received no indication that the company intends to withdraw its donations. The Trustees believe that the risk that such a withdrawal of support might put the Foundation's solvency at risk is mitigated by the fact the annually recurring undertaking by the group has been paid since 2 February 2010 and the company has already budgeted to continue to support the Foundation through 2025. The 2024 funding instalment was paid in March 2024, whilst the 2025 instalment was received in February 2025. The Foundation’s funding plan is therefore reviewed by the Trustees each year, considering selected themes, geographical priorities and funding structure and on the basis of this will obtain future funding from the company.

The Trustees continue to take all reasonable steps necessary to mitigate the associated risks and have strong plans in place so the Foundation can continue to maintain financial performance.

The Trustees are actively monitoring the situation in Ukraine, the Middle East and other global events. Although these doesn’t materially directly affect any entities within the United Kingdom, the Trustees are taking all reasonable steps necessary to mitigate any associated risks to ensure all operational and financial performance is maintained, whilst ensuring any legislative requirements and sanctions are fully adhered to.

As at the balance sheet date the Foundation was, and remains at the time of preparing this assessment, in a net current asset position. Projected cashflows are positive and the assessment shows, in both the base case and the severe but plausible scenarios, that the Foundation will remain liquid throughout the going concern period of review. As a result of this assessment, the Trustees are satisfied that the Foundation will be able to continue to meet its liabilities as they fall due and continue in operational existence for the foreseeable future and for at least 12 months from the date of this report. The Foundation therefore continues to adopt the going concern basis in preparing the Annual Report and Financial Statements.

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The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Structure, Governance and Management

The Cadbury Foundation is funded by the company and managed by a team of Trustees with secretarial support from the Community Affairs Manager and Finance team at the company’s principal office.

The Chairman and the Trustees are both appointed by the company and are employees of the company, or Mondelez International, Inc. and its subsidiary undertakings (‘the group’).

The Trustees are considered to be in the best position to agree the various disbursements within the charity’s objectives. In appointing Trustees, the company endeavours to ensure the trustee body has the necessary skills and experience.

All Trustees are provided with an induction on appointment to help them in fulfilling their duties. Further training of Trustees is undertaken on an ad hoc basis in response to identified needs.

The Trustees normally meet three times a year to agree the forward grants programme and the implementation of the current year’s programme. Visits are also arranged to the Foundation’s beneficiaries to enable Trustees to learn more about their work. The Community Affairs Manager manages and processes the charitable donations with additional support from Charities Aid Foundation (CAF).

The charity’s planning process involves the Trustees and Community Affairs Manager and the Foundation’s funding plan is reviewed annually.

The Trustees are responsible for the maintenance and integrity of the charity and financial information maintained. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The Cadbury Foundation Registered Charity Number 1050482 Report of the Trustees (continued) For the year ended 31 December 2024

Disclosure of information to auditors

Each of the persons who is a Trustee at the date of approval of these financial statements confirms that:

Approved and signed on behalf of the Trustees:

Louise Stigant

Date: 7 July 2025

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Independent auditors’ report to the trustees of The Cadbury

Foundation

Report on the audit of the financial statements

Opinion

In our opinion, The Cadbury Foundation’s financial statements (“the financial statements”):

We have audited the financial statements, included within the Annual Report and Financial Statements (the “Annual Report”), which comprise: the Statement of financial position as at 31 December 2024; the Statement of financial activities and the Statement of cash flows for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charity’s ability to continue as a going concern.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the

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financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.

Based on our work undertaken in the course of the audit, the Charities Act 2011 requires us also to report certain opinions and matters as described below.

Trustees’ Report

Under the Charities Act 2011 we are required to report to you if, in our opinion the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements. We have no exceptions to report arising from this responsibility.

Responsibilities for the financial statements and the audit

Responsibilities of the Trustees for the financial statements

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We are eligible to act and have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charity and industry, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011 and The Charities (Accounts and Reports) Regulations 2008, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) by the trustees and those responsible for, or involved in, the preparation of the financial statements, and determined that the principal risks were related to the posting of inappropriate journal entries and management bias in accounting estimates and judgements. Audit procedures performed included:

==> picture [455 x 64] intentionally omitted <==

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There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of this report

This report, including the opinions, has been prepared for and only for the charity’s trustees as a body in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act (Part 4 of The Charities (Accounts and Reports) Regulations 2008) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Charities Act 2011 exception reporting

Under the Charities Act 2011 we are required to report to you if, in our opinion:

We have no exceptions to report arising from this responsibility.

CO Rewahe bona aoper aa

PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Birmingham 11 July 2025

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The Cadbury Foundation Registered Charity Number 1050482 Statement of financial activities For the year ended 31 December 2024

==> picture [452 x 337] intentionally omitted <==

----- Start of picture text -----
Note 2024 2024 2024 2023 2023 2023
Unrestricted Restricted Unrestricted Restricted
TOTAL TOTAL
Funds Funds Funds Funds
£ £ £ £ £ £
Income from:
Donations and legacies 3 659,854 100 659,954 657,115 100 657,215
Total 659,854 100 659,954 657,115 100 657,215
Expenditure on:
Raising funds 4 (41) - (41) (46) - (46)
Charitable activities:
Colleague Passions 7 (113,441) - (113,441) (164,687) - (164,687)
Health and Wellbeing 7 (577,864) - (577,864) (588,498) - (588,498)
Skills 7 (54,364) - (54,364) (90,819) - (90,819)
Total charitable activities (745,669) - (745,669) (844,004) - (844,006)
Total (745,710) - (745,710) (844,050) - (843,959)
Net (expenditure) and net
(85,856) 100 (85,756) (186,935) 100 (186,835)
movement in funds
Fund balances brought
265,576 74,285 339,861 452,511 74,185 526,696
forward at 1 January
Fund balances carried
179,720 74,385 254,105 265,576 74,285 339,861
forward at 31 December
----- End of picture text -----

The notes on pages 16 to 25 form an integral part of these financial statements.

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The Cadbury Foundation Registered Charity Number 1050482 Statement of financial position As at 31 December 2024

Note
Current Assets
Cash at bank
Liabilities
Creditors: amounts falling due within one year
8
Net Assets
The Funds of the Charity
Restricted income funds
9
Unrestricted income funds
9
Total Charity Funds		 2024
2023
£
£
279,439
344,430
(25,334)
(4,569)
254,105
339,861
74,385
74,285
179,720
265,576
339,861
254,105

The financial statements of The Cadbury Foundation from page 13 to 25 (registered number 1050482) were approved by the Trustees on 7July 2025.

Signed on behalf of the Trustees:

Louise Stigant

The notes on pages 16 to 25 form an integral part of these financial statements.

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The Cadbury Foundation Registered Charity Number 1050482 Statement of cash flows For the year ended 31 December 2024

Note 2024
2023
£
£
Net cash outflow from operating activities
10
Cash flows from investing activities
Interest from investments
Net cash provided by investing activities		 (64,991)
(186,835)
-
-
-
-
Decrease in cash and cash equivalents
Cash and cash equivalents brought forward		 (64,991)
(186,835)
344,430
531,265
Cash and cash equivalents carried forward 279,439
344,430

The notes on pages 16 to 24 form an integral part of these financial statements.

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements For the year ended 31 December 2024

1. Accounting policies

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, "Accounting and Reporting by Charities" and prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

a) Going concern

In consideration of the going concern basis of preparation, the Trustees have forecasted the likely cashflows, and hence liquidity, of the Foundation based on the latest review of the charity’s activities throughout the going concern period. Due to the nature of the entity, the Foundation is not directly exposed to trading fluctuations, however non-trading activities which have associated cash inflows and outflows have been considered.

The Trustees have also considered the extent of potential severe but plausible downsides, such as a reduction in value of the annual donation from the company, however they do not consider these events would give rise to going concern implications for the company. The Foundation relies for a very substantial portion of its income on donations from the company, the level of which is determined based on a funding plan which is reviewed on a yearly basis. Although in practice this funding plan provides the Foundation with a high degree of predictability as to the level of its future incoming resources, the Foundation has no legally enforceable right to receive these donations until they have been formally approved by the company. It follows that should the company decide to cease making these donations the Foundation would suffer a severe decrease in the resources available to it and in its ability to pursue these objectives.

The Trustees have received no indication that the company intends to withdraw its donations. The Trustees believe that the risk that such a withdrawal of support might put the Foundation's solvency at risk is mitigated by the fact the annually recurring undertaking by the group has been paid since 2 February 2010 and the company has already budgeted to continue to support the Foundation through 2025. The 2024 funding instalment was paid in March 2024, whilst the 2025 instalment was received in February 2025. The Foundation’s funding plan is therefore reviewed by the Trustees each year, considering selected themes, geographical priorities and funding structure and on the basis of this will obtain future funding from the company.

The Trustees continue to take all reasonable steps necessary to mitigate the associated risks and have strong plans in place so the Foundation can continue to maintain financial performance.

16

The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

Accounting policies (continued)

a) Going concern (continued)

The Trustees are actively monitoring the situation in Ukraine, the Middle East and other global events. Although these doesn’t materially directly affect any entities within the United Kingdom, the Trustees are taking all reasonable steps necessary to mitigate any associated risks to ensure all operational and financial performance is maintained, whilst ensuring any legislative requirements and sanctions are fully adhered to.

As at the balance sheet date the Foundation was, and remains at the time of preparing this assessment, in a net current asset position. Projected cashflows are positive and the assessment shows, in both the base case and the severe but plausible scenarios, that the Foundation will remain liquid throughout the going concern period of review. As a result of this assessment, the Trustees are satisfied that the Foundation will be able to continue to meet its liabilities as they fall due and continue in operational existence for the foreseeable future and for at least 12 months from the date of this report. The Foundation therefore continues to adopt the going concern basis in preparing the Annual Report and Financial Statements.

b) Income recognition

All incoming resources are included in the Statement of financial activities when the Foundation is legally entitled to the income, receipt is probable, and the amount can be quantified with reasonable accuracy.

Donated services are measured based on the value to the charity. This value is the amount that the charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated item. Donated services that are consumed immediately are recognised as income, with an equivalent amount recognised as an expense.

c) Expenditure recognition

All expenditure is accounted for on an accrual basis, and is recognised once the intention to award a grant is notified to the recipient. Any returned donations, due to the recipient being unable to spend received funds on an agreed project, are returned and treated as a negative donation. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. See note 4 below.

Expenditure is recognised when the following criteria are met.

17

The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

Accounting policies (continued)

d) Expenditure on raiding funds

The costs of generating funds consist of commercial bank charges.

e) Allocation of support and governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and the salary of one seconded staff member, with all costs being borne directly by the company as part of its Community Affairs Programme. Governance costs and support costs relating to charitable activities have been apportioned based on the number of individual grant awards made so, that the administrative costs of awarding, monitoring and assessing grants are equivalent regardless of the type of grant

f) Charitable activities

Costs of charitable activities include grants made, governance costs and support costs as shown in notes 6 & 7.

g) Tax status

The Cadbury Foundation is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investment, if these profits and incomes are applied solely for charitable purposes.

h) Foreign currency translation

(i) Functional and presentation currency

The company's functional and presentation currency is Pound Sterling.

(ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income.

i) Funds

The general funds are unrestricted funds that are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and that have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes.

All funds for the periods presented are unrestricted except where otherwise stated. No reserves are required to be maintained by the Foundation's deed.

18

The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

Accounting policies (continued)

j) Creditors

Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt.

k) Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Due to the simple nature of the charity, the Trustees have not identified any critical accounting judgements or estimates.

2. Related parties

The Trustees did not receive any emoluments or expenses for their services as Trustees of the Charity during the year (2023: £Nil). Although the Trustees are employed by other Mondelez International Inc. group companies, no recharges were paid nor are payable for their services.

As well as these Trustee services, the group provides gifts in kind to the Charity such as use of IT equipment, office space and advice from the finance department. It is not possible to provide an estimate of the value of these services.

All administrative costs are borne on behalf of the charity by group undertakings and not recharged to the charity. An estimate of these donated services for the year is £59,854 (2023: £52,545). An estimated allocation of the audit fee for the year is £20,000 (2023: £20,000). There were no amounts paid to the auditors in respect of non-audit fees in either year.

3. Donations and Legacies

2024
2024
2024
2023
2023
2023
Unrestricted
Funds
Restricted
Funds
TOTAL Unrestricted
Funds
Restricted
Funds
TOTAL
£
£
£
£
£
£
Mondelez UK Holdings & Services Limited Donations
Other donations
Donated services		 600,000
100
600,100
600,000
-
600,000
-
-
-
4570
100
4,670
59,854
-
59,854
52,545
-
52,545
Total donations and legacies 659,854
100
659,954
657,115
100
657,215

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

4. Expenditure on Raising Funds

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----- Start of picture text -----
2024 2024 2024 2023 2023 2023
Unrestricted Restricted Unrestricted Restricted
TOTAL TOTAL
Funds Funds Funds Funds
£ £ £ £ £ £
Bank Charges (41) - (41) (46) - (46)
Total expenditure on raising funds (41) - (41) (46) - (46)
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5. Grant Expenditure

Charity Partner 2024
2023
2022
Expenditure
Expenditure
Expenditure
£
£
£
Fareshare
Health for Life in Primary Schools
Grocery Aid
Health for Life in the Community
IGD
Cashmatch (UK&I - CAF)
Others		 -
243,282
-
136,216
100,000
100,000
50,000
100,000
50,000
52,500
52,500
50,000
50,000
50,000
50,000
50,000
50,000
50,000
347,099
195,677
157,820
Total grant expenditure 685,815
791,459
457,820

Others for 2024 includes individual donations totalling £200,000 that were paid as part of the celebrations during the year of the 200th anniversary of the Cadbbury brand.

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

6. Governance and Support Costs

The total support and governance costs attributable to charitable activities is then apportioned pro rata to the number of grants awarded as shown in the table below. The Trustees have decided to meet all governance costs from unrestricted funds and so no allocation or charge is made to restricted funds for any governance related costs (see note 7 for further information and how presented in Statement of Financial Activities).

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

7. Analysis of Charitable Activity

In 2024, the expenditure on charitable activities was £745,669 (2023: £844,004) of which £745,669 (2023: £844,004) was expenditure from unrestricted funds and £Nil (2023: £Nil) was expenditure from restricted funds.

Governance costs include costs of seconded staff of £39,854 (2023: £32,545) and fees for audit services of £20,000 (2023: £20,000) which are met by the company as part of its Community Affairs Programme. These costs for secretarial staff have also been included within ‘income and donations’ as no direct charge is made. The Foundation had no employees in either year.

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

8. Creditors: Amounts falling due within one year

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2024 2023
£ £
-
Outstanding Grants 20,765
Ghana Wells 4,569 4,569
Total resources outstanding 25,334 4,569
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Liabilities are recorded in accordance with commitment accounting as required by the Charities SORP (FRS 102).

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Movement in recognised funding commitments during the year 2,024
£
Grants outstanding at the start of the year 4,569
New grant and accrued commitments charged in the year (see note 7) 685,815
Grants paid (665,050)
Amount of grant commitments recognised as at 31 December 2024 25,334
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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

9. Funds

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Opening Closing
1 January 2024 Income Expenditure 31 December 2024
£ £ £ £
Restricted funds
Ghana Wells 72,884 100 - 72,984
Cocoa Life 1,401 - - 1,401
Unrestricted funds 265,576 600,000 (685,856) 179,720
Total funds 339,861 600,100 (685,856) 254,105
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Restricted funds are income received which is restricted in its use to a specific activity by the donor.

The Ghana Wells funds relate to donations from the company’s employees used to fund the construction of wells in Ghana, one of the main suppliers of cocoa to Mondelez International. The Cocoa Life funds relate to donations from the company’s employees used to fund the further empowerment of cocoa communities in the use of modern farming practices.

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The Cadbury Foundation Registered Charity Number 1050482 Notes to the financial statements (Continued) For the year ended 31 December 2024

10. Reconciliation of net movement in funds to net cash flow from operating activities

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2024 2023
£ £
Net Expense for the year (85,756) (186,835)
Non Cash Items:
Donated Services 59,854 52,545
Governance Costs (59,854) (52,545)
Adjustments for:
Interest from investments - -
Increase in creditors 20,765 -
Net cash outflow from operating activities (64,991) (186,835)
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11. Controlling party

Under the terms of the Principal Deed, as it has the power to appoint Trustees, the controlling company is Mondelez UK Holdings & Services Limited.

The company's ultimate parent company and controlling party was Mondelez International Inc., incorporated in the United States of America. This is the parent company of the smallest and largest group to consolidate these financial statements. Copies of the consolidated financial statements of Mondelez International are available on application from the Company Secretary, Cadbury House, Sanderson Road, Uxbridge, UB8 1DH or from https://ir.mondelezinternational.com/sec-filings/secfiling/10-k/0001103982-25-000030

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