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2023-08-31-accounts

ELLEN b1ACARTrIUR FOUNDATION The Ellen MacArthur Foundation Annual Impact Report and Consolidated Accounts September 2022 to August 2023 Companles House: 06897785 Charity Commission Reglstratlon Number. 1130306

Contents A message from Ellen Trustees, and strategic report How we work Our impact Financial position 15 Our strategic ambitions 19 Structure, governance and management 23 Reference and administrative details 24 Statement of Responsibilities of the Trustees 25 Financial statements 29

THE ELLEN MACARTHUR FOUNDATION 12 Mobilise action Calling changemakers to action Shifting the needle on plastic pollution Working with business to transform the economy Business has an extraordinary potential to influence the global economy at scale and speed. This year we have continued to cultivate innovation and cooperation among leading industry players. Creatlng the world's blggest database of circular economy start-UPS We compiled and launched the Circular Startu Index, home to more than 750 examples from 63 countriè5. It ha5 crèated unprecèdented visibility of the landscape and 15 already bein9 Used to inform innovation and investment pipelines of major global corporations. international banks. and sustainability investors. Directing finance towards circular businesses is critical to scaling a circular economy. The work of our Plastics Initiative is setting a radical approach for how to change a System. Our fivè ear rèview of the Global Commitment found that signatories have significantly outperformed the rest of the industry over the last live years. They have reduced their use of several plastic items commonly identified as problematic or avoidable,. 5tabilised their use of virgin plastics avoiding nearly three fnillion tonné5 of virgin pla5tlC5 production a yèar compared to business as usual," and more than doubled their share of recycled content. The latter achievement is avoiding more than two million tonnes of greenhouse gas emissions per year and keeping one barrel of oil in the ground every two sèconds. R•doslgnlng food for natum to thrlv• Our Big Food Redesign Challenge aims to catalyse and inspire the food industry to regenerate nature by applying the principles of circular design to food. Launched In London In May 2023, and designed In partnèrship with thè Sustainablè Food Trust and our retail PaTtner Waitrose, the Challenge will put nature- positive food on supermarket shelves by 2025. Demonstrating what is P0$5ible In fashion Through our Jean5 Rèdesign project wé have inspired leading brands, mills. and manufacturers to transform the way they design and make jeans. The Insights Report published in 2023 demonstrated that circular design can become the norm in the fashion industry.. more than 100 organisations from 25 countries have redesigned jéans in line with circular èconomy rinciples. Proving concepts in this way can have far reaching effects.. learnings from this project is helping to shape China National Textile and Apparel Council's roadmap for the denim industry. The launch of the Business Coalition for a Global Plastics Treat united more than 150 leading businesses and NGOS in calling for a strong and ambitious agreemènt. We have simultaneously seizèd the opportLJnity to Èngage and inform key countries in the process. Negotiations lor a UN Treaty to end plastic pollution - currently underway - present a once-in-a-generation opportunity to harmonise policy on plastics to provide truly global action.

THE ELLEN MACARTHUR FOUNDATION IJ Mobilise action As countries embark on negotiations towards a global instrument to end plastic pollution, the global commitment provides an important framework to help accelerate action on combating plastic pollution. MOBILISE Q4TALYSE ELIVER Inger Andersen Executive Director, United Nations Environment Programme LEAA

THE ELLEN MACARTHUR FOUNDATION 14 Mobilise action Influencing international policy developments Global problems require global solutions. In North America, our team is connecting the circular economy to the industrial decarbonisation conversation, which has becomé a central pillar of the USA'5 climatè response. In Latin America, we are shining a light on the potential of this region to become a hub for climate solutions and innovation that can regenerate one of the most important regions in the world in térms of natural capital and biodiverslty. Our work in China, the world'5 largèst plastics producèr, has intensified and we are contributing to the country's policy development. We cannot get to net zero without the principles of a circular economy, period. A step ¢han9e in Lattn Arneri¢a Our relationship with the new Brazilian administration ha5 advanced the circular economy agenda in Latin America as a pillar of the new Ecological Transition Plan. Further opportunity lies in 2023's historic move as the Belem Declaration. agreed to by all nine Amazonian countries, linked the circular economy to the creation of regenerative food system5 necessary to protect the Amazon. Costa Samaras White House Office Of Science And Technology Policy Shaping EU Policy Our 8russels team maintains its long standing relationship with the European administration and our insight5 frequèntly Inform policy developments. This year wè helped to 5hapÈ the Ecodes nfor Sustainable Products regulation, which will encourage the creation of more circular products in the EU. and EPR for textiles, which will see EPR regulations for textiles rolled out across the bloc.

Together, we can build a circular economy that replenishes and regenerates our world.

Donations
and legacies
5,928 7,816 13,744 11,555
Charitable
activities
Income from other trading
operations
6,924 6,924 5,825
Investments
TOTAL INCOME 12,971 7,816 20,787 17,394
Fundraising
costs
355 355 301
Commercial
trading
operations
5,031 5,031 3,258
Chantable
activities
9,203 6,711 15,914 12,425
Other
TOTAL EXPENDITURE 14,651 6,711 21,362 16,070
NET INCOME/(EXPENDITURE) (1,680) 1,105 (575) 1,324
NET MOVEMENT
IN FUNDS
(1,680) 1,105 (575) 1,324
RECONCILIATION
OF FUNDS
Fund balances as at 1September 2022
17,173 5,217 22,390 21,066
Fund balances as at 31August 2023 15,493 6,322 21,815 22,390

CONSOLIDATED
AND
CHARITY BALANCE SH EET
At 31August 2023
Tangible fixed assets 699 735 320 382
Fixed asset investment 12
699 735 320 382
Debtors 13 7,146 8,238 5.396 6,724
Cash at bank and
in hand
19,448 17,643 15,609 13,503
26,594 25,881 21,005 20,227
Amounts
falling due
within one year 14 (5,478) (4,226) (1,779) 0,568)
NET CURRENT ASSETS 21,116 21,655 19,226 18,659
TOTAL NET ASSETS 21,815 22,390 19,546 19,041
Unrestricted
funds
Unrestricted
general
funds 15 15,493 17,173 13,224 13,824
Designated
fund
15
15,493 17,173 13,224 13,824
Restricted funds 16 6,322 5,217 6,322 5,217
TOTAL FUNDS 21,815 22,390 19,546 19,041

Cash flow from investing activities (below) 1,962 (417)
Payments to acquire tangible
fixed assets
(268) (180)
Interest received
NET CASH FLOW FROM INVESTING ACTIVITIES (137) (174)
Net (decrease)/Increase In cash and cash equivalents 1,805 (591)
Cash equivalents
at 1September 2022
'I7,643 18,234
CASH EQUIVALENTS AT 31AUGUST 2023 19,448 17,643
Cash and cash equivalents consists of:
Cash at bank and
in hand
'I9,448 17,643
CASH EQUIVALENTS AT 31AUGUST 2023 19,448 17,643
Surplus for the year (575) 1,324
Depreciation 298 195
Loss on disposal of fixed assets
Interest received (6)
Movement
in deferred
income 899 122
Movement
in creditors
353 188
Movement
in debtors
1,092 (2,24'I)
Net cash flow from operating activities 1,962 (417)
Cash 17,643 1,805 19,448
Bank charge cards repayment on demand (67) 34 (33)
17,576 1,639 19,415

Donations
and legacies
7,691 3,864 11,555 13,263
Charitable
activities
10
Income from other trading operations 5,825 5,825 4,651
Investments
Other income
TOTAL INCOME 13,530 3,864 17,394 17,930
Fundraising
costs
301 301 151
Other trading
operations
3,258 3,258 2,762
Charitable
activities
6,165 6,260 12,425 TI,630
Other 86 86 80
TOTAL EXPENDITURE 9,810 6,260 16,070 14,623
NET INCOME/(EXPENDITURE) 3,720 (2,396) 1,324 3,307
Transfers between
funds
(221) 221
NET MOVEMENT
IN FUNDS
3,499 (2,175) 1,324 3,307
RECONCILIATION
OF FUNDS
Fund balances as at 1September 2021
13,674 7,392 21,066 17,759
Fund balances as at 31August 2023 17,173 5,217 22,390 21,066

The Schmidt-MacArthur HE Programme 425
Global Partner
Donations
1,020 1,020 3,600
Network
income
1,750 1,750 900
Core Philanthropic
Funding
1,841 1,841 2,114
Other donations 37 37 106
Specific Research Projects 655 'I26 78'I 1,305
International
Outreach
625 1,312 1,937 1,930
Building
Prosperity
400 400
New Plastics Economy Initiative 4,322 4,322 25
Make Fashion Circular 65
Cities and Circular Economy for Food 1,656 1,656 1,112
TOTAL GRANTS AND DONATIONS 3,828 7,816 13,744 11,333

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
The Schmidt-MacArthur HE Programme 425 425 646
Global Partner
Donations
3,600 3,600 1,085
Network
income
900 900 1,350
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Core Philanthropic
Funding
2,114 2,114 1,570
People Postcode Lottery 2,019
Other donations 106 106 '124
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Specific Research Projects 833 472 1,305 1,036
International
Outreach
138 1,765 1,903 2,189
New Plastics Economy Initiative 25 25 2,991
Make Fashion Circular 65 65
Cities and Circular Economy for Food 1,112 1,112 253
TOTAL GRANTS AND DONATIONS 7,681 3,864 11,336 13,263

Ticket value 6,311
Prize fund (2,524)
Management fee (1,768)
NET LOTTERY INCOME IN THE YEAR 2,019

Rental income
Rechargeable items
TOTAL OTHER INCOMING RESOURCES
Rental income
Rechargeable items
TOTAL OTHER INCOMING RESOURCES 10

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Bank interest - monies held in interest bearing
deposit accounts
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Bank interest - monies held in interest bearing
deposit accounts

Income from donations
and legaoes
Income from donations
and legaoes
Income from donations
and legaoes
Income from donations
and legaoes
Income from donations
and legaoes
13,119 11,417
Rechargeable
items
Rental Income
Gift aid donation
from subsidiary
company 3,023 'I,746
Other income
Investment
income
TOTAL 16,261 13,177
Expenditure
on charitable
activities (14,831) (12,224)
Cost ofgenerating funds (924) (301)
(15,755) (12,525)
Net income for the year 506 652
Total funds brought forward 19,040 18,388
Total funds carried forward 19,546 19,040
Restricted
funds
6,322 5,217
Unrestricted
general
funds 13,224 13,823
TOTAL 19,346 19,040

Turnover 7,049 5,972
Cost ofsales and admin costs (5,031) (3,258)
Profit before tax 2,018 2,7'14
Tax on profits
PROFIT AFTER TAX 2,018 2,714
Retained
earning as prewously
reported 3,089 1,746
Prior year adjustment 375
AS RESTATED 3,089 2121
Distributed
to parent during the year
(3,023) 0,746)
RETAINED
IN THE SUBSIDIARY
2,084 3,089
The assets and liabilities of the subsidiary were:
Fixed assets 368 346
Current assets 6,219 6,172
Current
liabilities
(4,503) (3,429)
NET ASSETS 2,084 3,089

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
The Schmidt-MacArthur HE Programme 30 33 390
Education
Projects
767 376 'l,l43 1,305
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Global Partners
and Funding
188 355 543 371
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Speofic Research Projects 1,165 540 1,705 1,117
International
Outreach
3,025 191 3,216 2,454
New Plastics Economy Initiative 2,739 375 3,TI4 2,895
Make Fashion Circular 959 959 1,038
Cities and Circular Economy For Food 1,373 99 1,472 599
Finance 2'10 32'I 281
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Insight
& Communications
2,438 '1,293 3,73'I 2,257
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Audit and accountancy 62 62 72
Legal and professional 14
Support allocation 32 32 19
TOTAL 12,706 3,20$ 62 355 16,331 12,612
Communications
and IT
244 224
Design, print and office costs 97 39
Rent, and property costs 251 275
Insurances 31 24
Depreciation 69 70
Professional
services and consultancy
708 254
Currency
translation
and finance costs
10 (71
Staff costs 1,297 346
Travel training
and recruitment
50'I 265
TOTAL 3,208 1,490

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
The Schmidt-MacArthur HE Programme 355 35 390 645
Education
Projects
1,086 219 1,305 727
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Global Partners
and Funding
70 301 371 172
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Speofic Research Projects 962 155 1,117 973
International
Outreach
2,305 149 2,454 2,065
New Plastics Economy Initiative 2,585 310 2,895 2,630
Make Fashion Circular 1,036 1,038 1,541
Cities and Circular Economy For Food 545 54 599 1,113
Finance 228 53 281 190
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Insight
at Communications
1,833 424 2,257 'l,714
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Audit and accountancy 72 72 55
Legal and professional 14 14 25
Support allocation 19 19
TOTAL 10,935 1,490 $6 301 12,$12 11,$61

Auditors remuneration 51 34 35 27
Auditors remuneration in respect of prior years 14
Non-audit services from auditor related firm 23 17 14
Non-audit services
in
respect of prior years 14
Pay ro I I services
Taxation services
Depreciation
of owned
fixed assets 298 '195 70 70

Wages and salaries Wages and salaries 9,564 7,894
Social Security costs 832 708
Pension costs 282 233
Other Employee Benefits 38 19
TOTAL 10,708 8,884
The
the
average weekly number
period was as follows:
of employees during 187 174
E60,000to E70,000 13
E70,000to E80,000
E80,000to E90,000
E90,000to 6100,000
8100,000 to 8110,000
6110,000to 6120,000
6130,000to E140,000
6140,000 to E)60,000
8150,000to f160,000
6210,000to 6220,000
6230,000 to 6240,000
Employer's
employee's
pension costs attributed
to
who were paid over E60,000were:
70 43

Cost at I September 2022 1,019 549 1,568
Additions 19 249 268
Disposals (27) (27)
AT 31AUGUST 2023 1,038 771 1,809
Depreciation
at I September 2022
481 352 833
Charge for the year 99 199 298
Eliminated
on disposal
(21) (2'I)
AT 31AUGUST 2023 580 530 1,110
NET BOOK VALUE AT 31AUGUST 2023 458 241
NET BOOK VALUE AT 31AUGUST 2022 538 197 735
Cost at I September 2022 709 129 838
Additions
AT 31AUGUST 2023 717 129 $46
Depreciation
at I September 2022
334 122 456
Charge for the year 67 70
AT 31AUGUST 2023 401 123 326
NET BOOK VALUE AT 31AUGUST 2023 320
NET BOOK VALUE AT 31AUGUST 2022 375 362

Trade debtors 1,889 2,262 865 984
Other debtors 222 75 218 62
Accrued income 4,413 4,918 4,109 4,869
Prepayments 622 983 204 809
TOTAL 7,146 8,238 S,386 6,724

Trade creditors
—project
Trade creditors
—project
costs costs 911 364 564 264
Amounts
due to Trading
subsidiary 911 799
Accruals 505 367 204 197
Other creditors 193 359 98 119
Taxation and Social Security 213 189
Deferred income 3,823 2,923
TOTAL 5,478 4,226 1,779 1,568
eferred
income arises
on donations received in advance of the various work programmes relating to the 2023/24 financial
ear which commenced on 1 September 2023. All of the income deferred at 31August 2022 was taken to the income and
xpenditure
account
in
the 2023 accounts.
At 1September 2022 2,923 2,801 425
Amounts
released to
income in the year (2,923) (2,801) (425)
Additions
in the year
2,923
At 3'I August 2023
Consultancy
fees in advance
2,39'I '1,989
Fibres 621 493
NPEC 733 415
Food 78 26
AT 31AUGUST 2023 3,823 2,923

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Unrestricted general funds 17,173 12,971 (14,651) 17,703
TOTAL 17,173 12,971 (14,851) 17,703
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Unrestricted general funds 12,424 13,530 (9,810) 1,029 17,173
Designated fund 'I,250 (1,250)
TOTAL 13,674 13,530 (9,810) (221) 17,173

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Schmidt-MacArthur
Higher
Education
Programme
33 (33)
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
MAVA GSC, CE'IOO
Materials
and Circular 2,3 175 126 (301)
China 2,011 1,312 (1,778) 'l,545
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
New Plastics Economy Initiative 1,686 4,322 (3,501) 2,507
Cities and Circular Economy For Food 7 1,312 1,656 (1,084) 1,884
Building
Prosperity
400 (14) 386
TOTAL 5,127 7,616 (6,711) 6,322
Schmidt-MacArthur
Higher
Education
Programme
Schmidt-MacArthur
Higher
Education
Programme
(2) 425 (390) 33
MAVA GSC, CE100and
Matenals
Circular 2,3 424 472 (721) 175
China 1,882 1,765 (1,636) 2,011
New Plastics Economy Initiative 4,556 25 (2,895) 1,686
Make Fashion Circular (261) (25) 221
Cities and Circular Economy For Food 7 793 1,TI2 (593) 1,312
TOTAL 7,392 3,864 (6,260) 221 5,217

Fixed assets 699 699 735
Current assets 6,266 880 7,146 8,238
Cash at bank 13,893 5,555 19,448 17,643
Creditors (5,365) (113) (5,478) (4,226)
TOTAL 15,493 6,322 21,615 22,390
Fixed assets 320 320 382
Current assets 4,516 880 5,396 6,724
Cash at bank 10,054 5,555 15,609 13,503
Creditors (1,666) (113) (1,779) (1,568)
TOTAL 13,224 6,322 19,546 19,041
Fixed assets 735 735 751
Current assets 6,903 1,335 8,238 5,997
Cash at bank 13,705 3,938 17,643 18,234
Creditors (4,170) (56) (4,226) (3,916)
TOTAL 17,173 5,217 22,390 21,066
Fixed assets 382 382 447
Current assets 5,389 1,335 6,724 5,137
Cash at bank 9,565 3,938 13,503 14,451
Creditors (1,512) (56) (1,568) (1,647)
TOTAL 13,824 5,217 19,041 18,3SS

Due within 1year 159 13 'I48
Due between 2-5 years 290 372
Due after more than 5years 46
TOTAL 495 13 616 14
Due within 1year 159 148
Due between 2-5 years 290 372
Due after more than 5years 46
TOTAL 495 616

Carrying amount of financial assets
Debt instruments measured at 25,973 24,899 20,800 19,418
amortised cost
Carrying
Liabilities
amount
of
measured
financial
liabikties
at amortised
cost
(1,656) (1,303) (1,779) (1,569)
TOTAL 24,317 23,696 19,021 17,649

ELLEN MACARTHUR FOUNDATION É) COPYRIGHT 2024 ELLEN MACARTHUR FOUNDATION Charity Registration No.: 1130306 OSCR Registration No.: SC043120 Company No.: 6897785