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