Charity registration number 1144803
THE KIER FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

THE KIER FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Tmstèes
Mr 8 L Hayes
MrA Petticrew
Mi D Foley
Ms K Armsden
Mr L Brown
Ms D Howard
Ms N Watkins
Ms J Tham
M5 D Hawkes
Charity number
11448J3
Principal addrts$
Marriott House
Brindley Close
Rushden
NN106EN
Indgp•ndent examiner
Azels
Thorpe House
93 Headlands
Kettering
Northampton5hire
United Kingdom
NN15 6BL
Bankers
National WeslTninsler Bank plc
81 High Street
Bedford
Bedlordshire
United Kingdom
MK40 1YN

THE KIER FOUNDATION
CONTENTS
Pa9e
Trustee5' report
Independent exarninerf5 report
Slalemenl of financial aclivrties
Balance sheet
Statement of cash flows
Notes lo the financial statements
8-12

THE KIER FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The Iruslees present their annual report and financial slalemenls for the year en(Jed 30 June 2024.
The finaTICi31 st8temenls have been prepared in accordance with Ihe accounting policie5 sel out in note 1 lo the
financial statements and comply with the charrty's Trust Deed. the Chaiilies Act 2011 and "Accounting and
Reporting by Charities" Statement of Recommended Piacti¢e applicable lo charities preparing Iheii accounts in
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland published In October
2019.
Objective5 and activities
The charity's objec15 retnain unchanged, with the Trust Deed and Reference Document stating the objects of the
charity as.
To raise funds lor and ofler practical assistance to charitable bodies and olh&r qualifying causes throughout
the UK, mainly through the activities of Kier employee5 in the company's areas ol operation. This
include responding lo International crises
To offer sUPPOrt funding for Kier Group employee5 and Kier Group businesses lo assist with their thvn
fundraising aims.
There has been no change In these during the yeai.
The trustees have paid due regard to guidance issued by the Charity Comrnission in deciding what activilies the
¢hariiy should undertake.
Charity Partner
At the end ol June 2023 we bid a fond farewell to our previous charity pariner Evèry Youth Ilormerly End Youth
Homelessness) and began a new partnership with the charity The Trussell Trust.
Ftsr our partnership with The Trussell Trust our objectives are..
Fundraising We aim lo raise £250.000 over the two years to support the Trussell core delivery
programmes, to support people through times of crisis and equip them with thè financial skills making il less
likely they will need to use a food b3nk In the future.
Volunteering We will offer al least 200 volunteer days to the Trussell. This will include Group wide Tesco
volunleei days linked with the Kier Inclusion Networks, and local lotsd bank volurileerin9
Pro bono." Kier colleagues will offer up lo £100,000 worth of pro bono work. Inclusive of food bank
donations, through practical support to develop Community foodbank facilities.
The Trussell Trust support a nationwide ne￿Ork ol loodbanks arid also offer advice and counselling services to
Ihtsse in need. The Trussell Trust was chosen as a partner after pitching to trustees lo be a Gandidale lor Kier's next
charity partner. and then winning an employee vote. Our locus in the corning year will be to build on the successes
of the previous partnership and lo continue to engage staff to help them raise funds lor causes that they
hold dear.
In the first year ol our pariner5hip any funds raised will be put into resourcing The Trussell Trust'5 C05t of Living
Resilience Fund ICOLRI. The principal aim of the COLR fund is lo make sure frontline food bariks. working flai-out
to meet record levels of nèed loi help, can keep the doors open lor people whose Incomes havè been ¢rtJshed by
the cost of living.
We make sure food banks can keep the doors open by..
building capacity with grants for food, increased running Gos15 and more people power
providing tailored training, resources, bespoke systems and 121 support lo réspond lo challenges and
serve cornmunities safely through this ever-changing environment.

THE KIER FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
The COLR fund gives grants which aré paid directly to food banks which include strategic facilities grants,
volunteering grants and cii5is fund giants. The Trussell Trust's Trntial team also supports food banks by providing
resources lo ensure they Gan 'keep their doors open,
for instance, by funding the iecruilment and training ol
foodbank volunteer5.
In our first year of partnership Kier colleagues raised 2 brilliant £125,000 with various iniliatwes Including taking part
In Dragonboat laces, h31f marathons, the London Royal Park5 Challenge walking rllaiathon, the three peaks double
challenge, abseiling challenges and bake sales.
The Kier Foundation staff have worked hard with thè staff at The TrLJssell Trust to find the best way to facililale
volunteering al the foodbanks. We encouraged employees lo join in with the volunteering opportunit￿$ provided by
Tes¢o's al the end of Novernber and had 42 51aff members helping with this campaig
Over the year Kier
colleagues volunteered another 50.5 days lo make a tol81 of 92.5 volunteering days donated
Our Kier colleagues have also bÈen busy donating their time land sometitne5 mUsGlell to help loodbanks moving
premises. The people power provided is valued at over £5.000. Work also began on a project In Northern Ireland lo
provide a portacabin which will replace the unsuitable buildings housing the Vineyaid Compassion loodbank
operation. Once this project is completed 31 the end 012024 it will make a massive difference both lo the people
using their services and lo the slaft working there.
Employee Challange
Moving through May
We decided lo run our Moving through May event again In 2024 with an emphasis on beating your personal best.
We challenged Kier employees to gel tlloving by walking. running or cycling and going the extra mile for oharity. By
taking part in this virtual challenge to raise funds for charities and do something positive for the cornmunilies we
work in, we encouraged staff lo lake care of their own mental and physical health
1.323 partieipants look part In Moving through May and thanks to their support we raised over £80,000 which was
Split between the Kier Foundation and 27 charities chosen by our region21 businesses.
Winners of the various categories were invited to collect their trophies in peison at our celebration event. held al
Millennium Point in Birmingham at the ènd of Junè
Employ•e Match Fundlng
Kièr employees once again showed their love ol fundraising for charities with match funding applications increased
slightly totalling £78,745 in the year ending in 2024 12023.. £71,649). This year there were 169 different employee
tnalGh funding applicalions12023.' 1271 I)elping lo support 101 different charilies12023.' 891.
Business Support Funding
The Kier Foundalion is always keen to 5UPPOrt local cotnmunilie5 in which we work through our business 5UPPOrt
funding scheme lo encourage Kier businesses to run community projec15 within local aieas in which KEr opèratè.
This year we supported 5 local programmes12023". 613nd donated a lolal of £15,864.6212023 £22,852)
There were successful applications from employees in Transportation. Regional Civil Engineeiing. and
Conslruction. Projects included helping create a mefflor181 garden in Cornwall. creating a sensory garden for a
Special academy, contributing to the funds foi purchasing a minibus to Iransport disabled children and helping to
rebuild a village hall and comtnunity hub.
Charity Champion5
In 2016 we launched the Kier Foundation Charity Champion initiative encoura9ing eTnployees to become
3mbassadors lor The Kier Foundation. This year the nurnber ol Charity Champions supporting thè charity
deereaseil to 9712023. 1071. The Charity Chatnpions across Group really are extended members ol our team, and
we are always happy to welcome nèw champions onboard.
Winners Club
Regular income from the tnonlhly employe&only lottery 'The Winners, Club.. continued to grow with income frot
'tickel sales. being split equally between employee prize money and The Kier Foundation. During the year The
Winners Club has pioduced £99.610 of income for The Kier Foundation 12023 £88,061) with 3,937 playus12023".
3.6041 as of the 1 July 2024 draw.

THE KIER FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Outlook
Over the next twelve rnonths we will be focusing on a¢hieving our objectives for Kier Group charity partner and
begin the Search lor the new charily partner. We will locus our efforts on our flag ship fundraising and vjellbeing
event Moving through May and lotsk al ways to continue the development ol Kier Foundation. We aim lo complete a
lottery licence application, once granted thè Iicence will enable us lo grow our employee lottery and this stream ol
sustainable income lo donate lo cause5 Kier people hold dear.
Risk Management
The Trustee5 have a duly lo identify and review the risks to which the charity Is exposed and lo ensLJrè appropriate
Controls arè in plac8 to provide reasonable assurance against fraud and error.
Flnanclal review
Incoming resources In the year were £265.309 12023. £291,821). This includes income Ihal wa5 unrestricted. A
suiplus of £77.445 was made in the year12023' surplus £20. 9311. AI 30 June 2024 total ieserv6s were £233,862
12023. £156,417).
Reserves Policy
It IS the policy of the charity th21 unrestricted funds which have not been designated for a specifi¢ use should be
main13ined al a reasonable level to support the current and future charitable objectives. The trustees considers that
reserves at this level will ensure that, in the event of a significant drop in funding. they will be able lo continue the
charity's current aelivilies while consideration is given to ways in which additional funds may be raised. Thi5 level of
reserves has been maintained throughout the year.
Structure. governance and management
The charity is controlled by its governing do¢umenl, a deed ol trust, and consliiuies an unincorporated charity.
The trustees who served during the year and up to the date ol signaturè of the financial slalements were.
Mr B L Hayes
Mr A Petticrew
Mr D Foley
Ms K Armsden
Mr L Brown
Ms D Howard
Ms N ivalkins
Ms J Tham
Ms D Hawkes
Mr D Taylor
(Resigned 26 March 20241
Rècruitment and Appointment of Trustees
Trustees are appointed by existing members and are eilhef current or former employees of Kier.
New Trustees are recruitèd through a skills and need based approach.
Rebecca Staden continued to manage the Foundation from 5 June 2017 to date. with assi5t2nce of Jemy Wells
and Tonya Kennedy.
The trustees, report was approved by the Board ol Trvslees.
M5 D Howard
Chair
D8te'.

THE KIER FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE KIER FOUNDATION
I repori to the ITLJslees on my examination ol the financial statements of The Kier Foundation Ithe charity) for
the year ended 30 June 2024.
Responsibilities and basis ol report
As the Iruslees of the charity you are responslblè lor thè prepaialion of the finanual slalements in accordan
with the requirements of Ihe Charities Act 2011 Ithe 2011 Act).
I rèport in respect of my exarnin3tion of Ihe charity's financial statemènts ¢arried out under 5edion 145 of the
2011 Act. In carrying Out my examination I have followed all the applicable Directions given by Ihe Charily
Comrni55ion under section 14515llbl of the 2011 Act.
Independent examinerfs statement
Since the Charity's gross incorne exceeded £250,000 your examiner rnusl be a member of a body listed in
section 145 of the 2011 Acl. I Confir￿ that l atn qualified lo undertake the examination because l am a metmber
of Inslilule of Chartered Accountants In England and Wales, which Is one of the listed bodies.
Your allenlion is drawn to the lact that the charity has prepared financial statements in acCOrda￿e with
Accounting and Reporting by Charities preparing their a¢¢ounts in accordance with the Financial Reporting
Slandard applicable in the UK and Republic ol Ireland IFRS 1021 in preference lo the Accounting and
Reporting by Charities. Staternent of Recommended Practi￿ issued on 1 April 2005 which is referred lo in the
extant re9ulations but has now been withdrawn.
understand that this ha5 been done in order for financial statements lo provide a true and fair view in
accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1
January 2015.
I have completed my examination. I confirm that no tnatters have come lo my attenlion In Gonneclion with the
examination giving me cause lo bel*ve that in any material iespecl..
accounting recoids were not kept in respect ol the charity as required by section 130 01 the 2011 Act", Dr
the financial statements do not accord with those records., or
the financial slalemenls do not comply with the applicable reqvirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a true and lair view which 15 not a matter COTTrsidered as part of an independent
examination.
I have no concerns and havè tome across no other matters In connection with the examination to which
attention should be diawn in th15 report in order to enable a proper understanding of the financial statements lo
be reached.
Paul Tyler FCA
Azels
Thorpe House
93 Headlands
Kettering
Northamptonshire
NN15 6BL
United Kingdom

THE KIER FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
Unrestricted Unrestricted
fund$
funds
2024
2023
Notes
Charitable a¢livilies
2S5,309
291.821
enditure
Charitable activities
187.864
270,690
Net income for the yearl
Net movement in funds
77,445
20,931
Fund balances al 1 July 2023
156.417
135,486
Fund balances at 30 June 2024
233,862
156.417
Thè statement of financial aclivitie5 includes all gains and losses rewgnised in the year.
All income and expenditure derive Ilotn continuing 3Ctivities.

THE KIER FOUNDATION
BALANCE SHEET
AS AT 30 JUNE 2024
2024
2023
Notes
Current assets
Debtors
Cash al bank and in hand
17.374
262,958
39.341
119.576
280.332
158,917
reditors.. amounts falling due within
one year
10
146.4701
12,5001
Net current assets
233,862
156.417
Income funds
Unrestricted funds
233,862
156,417
233.662
156.417
The financial statemènts werè approved by the Trustees on
Ms D Howard
Trustee

THE KIER FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
Note
Cash flows from operatlng aetivities
Cash generated frornllabsorbed by)
operations
12
143,382
110,1541
Net cash used in Investlng activities
N•t cash ustd in financing activities
Net increa$ellde¢reasel in cash and cash
equivalents
143.382
110.1541
Cash and cash equivalents al beginning of year
119,57S
129,730
Cash and cash equivalents at end of year
262,958
119.576

THE KIER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accounting policies
Charity infomiation
The Kier Foundalion is a charity controlled by its governin9 document, a deed of trust, and constitutes an
unincorpoiated charity.
1.1 Accounting convention
The financial statements have been prepared in accord3n¢e with Accounting and Reporting by Ch3rilies'.
Slalemenl ol Recommended Practice applicable to charities preparing their accounts in accord3nce with the
Financial Reporting Standard applicable in the UK and Republic ol Ireland Issued In Oolober 2019, Ihe
Financial Reporling Standard applicable in the United Kingdom and Rèpublic of Ireland IFRS 1021, the
Charities Act 2011 and UK Generally A￿epted Practice
The financial s131emenls have been prepared lo give a "true and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a 'tiue and fair
view,. This departure has involved following Accounting and Reporting by Charities" Slatemenl ol
Recommended Practice applicable lo charities pieparing their accounts in accordance with the Financial
Reporting Standard 2ppli¢able ID the UK 8nd Republic of Ireland issued in October 2019 rather than the
AGcounling and Reporting by Charilies". Statement ol Recornrnended Practice effective from 1 April 2005
which has since been withdrawn.
The financial slalements ale prepared In 51eiling, which is the functional currency of the charity. Monetary
amounts in these financial statement5 are rounded lo the nearpsl £.
The financial slalernenls have been prepared under the historical c05t convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
Al the time ol approving Ihe financial statements, the trustees have a reasonable expectalion thal Ihe charity
has adequate resoui¢e5 to continue In operational existence lor the foreseeable future. Thus the IrLJslees
continue to adopt the going concern basis of accoLJnling in preparing the financial statetllents.
1.3 Charitable funiFs
Unrestricted funds are availablè Yor usè 8t the discretion of the Iruslees in furtherance ol their chaiilable
tsbjeclives.
Designated funds represent amounts of unpaid match fLJnding where the outcome of events Is known but
payment had not been made al 30 June.
1.4 Income
Income Is recognised when the charity Is legally enlilled lo il after any pèrftsrmance conditions have been met.
the amounts can be mea5uied ieliably, and il is probable that income will be ieceived.
Cash donations are recognised ori receipt. Other donations are recognised once the charity has been notified
of the donèlion. unles5 perfortnance conditions require deferral ol the atnounl Incomè tax recoverable In
relation to donations received under Gift Aid or deeds of eovenanl is rÈcognised al the lime of the donation.
Legacies are recognised on receipt or otherwise Il the charity has bèen notified ol an irnpending dislribulion,
the amount 15 known, and receipt is expected. 11 the amount 15 not known, the legacy Is treated as a
contingènt asset.
1.S Expenditure
Liabilities are recognised as expenditure zs sotsn as there Is a legal or constructive oblioalion committing the
charity to Ihal expenditure, il Is probable that settlement will be required and the amount ol the obligation can
be measured reliably.

THE KIER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 30 JUNE 2024
Aceountlng policies
Icontlnuedl
Expenditure is accounted for on an accruals basis. All expenses, including SUPPOrt ¢0Sts and govèrnance
costs, are allocated Dr apportioned to the applicable expenditure heading5.
1.6 Cash and cash equivalents
Cash arid cash equivalents include cash in hand, deposi15 held al call with banks. other short-lerm liquid
investments with original maturities ol three tmonths or less. and bank oveidiafts. Bank overdrafts are shown
within borrowin9s In current liabilities.
1.7 Financial instruments
Thé chaiily has ele¢led lo apply the provisions ol Section 11 '8asic Financi31 Instruments. and Section 12
'Olher Financial Instruments Issues. of FRS 102 to all ol ils financial instrLJmÈnts
Financial inslruments are recognised In the charity's balafiGe sheet when the Charity becomes party to the
conlraclual piovisions ol the instrument.
Firiancial assets and liabilities are offset. with the net amounts presented In the financial statefflenls. when
there Is a legally enforceable right 10 Sel off the recognised amtrunt5 and there is an intention to settle on a nel
basis or to realise the asset and settle the liability simullane()usly.
Basic financial asseis
Basic financial assets. which Include debtors and cash and bank balsnces, are initialty rneasured at
transaclion price including Iransaction costs and are subsequèntly caiiied at amortised cost using the effective
inleresl method unless the arrangement constitutes a financing transaction. where the transaction is
measured al the prèsènt value of the fulure receipts discounted al a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities Induding creditors and bank108ns are initially recognised al transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument Is measured al the present
value of the future paywenls discounted at a Tnaikel rale of inleiest. Financial liabilities classified as payable
within one year are nol amortised.
Dèbt inglrurnents are subsequently cartied al 8mortised cost. using the effective interest rate method.
Trade creditors are obligations lo pay for goods or services that have been acquired In the ordinary course of
operations from supplier5. Atnoun15 payable are classified as current liabilities il payrnent is due within one
year or less. If not, they are presented ag non-curr&nl liabilities. Trade credilors are r6cognised initially al
transaction piice and subsequently measured at amortis&d cost using the effective Interest rnelhod.
DerecogniQon of financial liabilities
Financial Iiabililies are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.8 Employee benèflts
The cost of any unused holiday entitlernenl 15 recognised in the period in which the employee's service5 are
received
Termination benefit5 are recogrii5ed immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or lo provide terrninalion benefits.

THE KIER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Critical accounting estimatts and judgements
In the applicaiion of the chaiily's ac¢ounting policies. the trustees are required lo make judgements, estimates
and assumptions about the carrying amount ol assets and liabilities that are not readily apparent from other
sourGes. The estimates and associated assurnptions are based on historical experience and other factors that
are considered lo be relevant. Actual results may diffei from these eslimales.
The estimates and underlying a55umplions ale reviewed on an ongoing basis. Revisions lo accounting
eslirnates are recognised iri the periotj In which the estimate is revised wh@rÈ the revision affects only that
period, or in the period of the ievision and future periods where the revision affects both current and future
periods.
Charitable
activities
TearnEmployee-onty
Other
Challenge
10tt8ry'. The
fundi*i$lng
Winnèrs, Club aclivS1195 li.•.Charity partner
office
$pecill
fundrai
Fundra151ng
Total
2024
Total
2023
2024
2024
2024
Sales within
charitable activities
2,312
99.610
155,381
8.006
265.309
291,821
For the year ended 30 Junè 2023
TpamEmployee-on
Other
Challenge
lottery.. Thg
fundral$ln9
Wlnn•rs' Club Actlvltl•s li.e.Charlty partrngr
oflicfy
fundral¥er¥
Fundral$lng
Total
2023
Sales within charitable activities
3,578
88,061
191,850
8,332
291,821
Charitable activities
2024
2023
Donation to charity partner
Match funding and reslricled donations to chanly partner
Match funding schemes and restricted donations
37.933
29,895
116.840
77,431
28,259
162,277
184,668
267,967
Share ol governance costslsee note 51
3,196
2,923
187,864
270.890
10-

THE KIER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Supportcosts
Support Governance
costs
costs
2024
2023
Bank charges
Independent examinerfs fees
78
3.120
76
3,120
73
2,850
3.196
3,196
2.923
Analysed between
Charitable activities
3,196
3,196
2.923
Trustees
None of the trustee5 loi any persons connected with them) received any remuneration or benefits fioffl the
charity during the year.
There were also no expenses reimbuised to trustees by the charity during the year.
Employees
There were nil12023." nil) employees during the year.
Taxxtion
The charity Is exempl from tax on income and gains falling within section 50Jf ol the Taxes Acl 1988 or section
252 of the Taxationol Chargeable Gains Act 1992 to the extent that these are applied to Its charitable objects.
DebtorJ
2024
2023
Amounts falling due within one year:
Other debtors
17.374
39.341
10 Creditors= amounts falling due within one year
2024
2023
Other credilois
Accruals and deferred income
43.970
2,500
2,500
46,470
2,500

THE KIER FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 30 JUNE 2024
11 Related party transactions
Transa¢tion$ with related parti•s
During thè year the charity entered Into the following transactions with related parties
2024
2023
Expenses paid by the Kier Group
165.000
135,988
165,000
135.988
12 Cash generated from operations
2024
2023
Surplus foi the year
77,445
20,931
Movements in working capital..
Decreasellincieasel in debtors
Inciea5e In creditors
21.967
43,970
131,0851
Cash generated fromllab$orb*d byl operations
143.382
110,1541
13 Analysls of change8 In net funds
The charily had no debt during the year.
12-