COMPANY REGISTRATION NUMBER.. 08064488
CHARITY REGISTRATION NUMBER: 1147400
The Costa Foundation
Company Limited by Guarantee
Financial Statements
31 December 2024

The Costa Foundation
Company Limited by Guarantee
Financial SLitements
Year ended 31 December 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditorfs report to the members
14
Statement of financial actNities (including income and expenditure account)
17
Statement of financial position
18
Statement of cash flows
19
Notes to the financial statements
20

The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2024
The trustees, who are also the directors fDr the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 December 2024.
Chalr's report
We have made good progress in 2024. Having recruited our first employed Executive Director in 2023,
the focus this year has been on refreshing our slralegy to 2027, strengthening our tearns and driving
income growth, whilst focusing on our core mission of delivering education projects via our partners in
coffee growing eommunlties of the world.
Th6 strategy development process has involved a signwricant amount of collaborative work with our
majordelivery partn8rs and with our key supporter, Costa. Our mission remains unchanged: 'to improve
the lrfe chances of children and young people in coffee growing communities by provlding the
opportunity of a saf8, quality education,. However. over the next 3 years we will increase Investment in
non- intrastruclure projects. Whilst infraslruclure remains critical to provide access to safe education
we will invest more in programmes that drive the quality of education. We will accentuate our coffee
focus and ensure that we are responding to the effects of climale change in the rural communities that
we serve. Aso, as Costa's global charity partner. we will investigate oppc¥tunities to suptK)rt their other
charitable activity in major cuslomer markets, starting with the UK.
To budd greater r88ili8nce we have slrenglhened both our inlemal and external teams. We have
recruilgd a permanent project officer to support the charity's activities and changed our external
accounting provider. Vve hav& also conlr8cled the seNi¢es of a Company Secretsry rather than relying
on a volunteer.
Our charitable income has risen to £1.gm. Thls Is 8 19Yo improvement year-on-year and is largely driven
by record levels of fundraising by the teams who work in Cosla Coffee stores. I'd like to Ihank them for
everything they do lo supporl the Found8tlon and also extend a huge thanks to the customers who
continue to help fund our work.
Al a lime when there is so much uncertainty in the world. I'm very proud that we have been able to fijnd
17 projects in 8 coffee-growing countries. In line with our slrate9y these have included both
infrastructure projects, and programmes focused on driving the qualty of, and access to. education.
The completed projects have positively impacted over 8.000 children and young people.
On behalf of the board. I would like lo recognise the dedication of so many who make everything
possible - our inlemal team, Kate and Faye, our in-country delivery partnerg, all those supporting us
within Cosla Coffee, and lo all our other partners, volunteers and supporters...thank you.
I would personally like to thank our truste8s, who selflessly give their time lo supporting the Foundation.
With such a small internal tearn we would just not be able to operate without their dedication and
exp&rtis&. Thank you.
As we enler2025, we say goodbye and thank you to Charfolle Cluskerwho has stepped down from the
board having left Costa. We are pleased to welcome Cecile Angrand, Cosla's Global Chief Marketing
Offi￿r.
In the year ahead, I very much hope the Foundation will build on the success of last year and
SUCGe55fully implement our refreshed strategy lo improve the lives of even mor8 children and young
people across the world, and closèr lo hom8.
Rob Swyer- Chair, The Costa Foundation

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrectorfs Report)
Year ended 31 December 2024
Reference and admlnlstrallve detalls
Register¢d ¢harlty name
The Costa Foundation
Charity registratlon number
1147400
Company registration numb8r
08064488
Prin¢ipal office and rfjglst8rad
office
3 thaves Beech Business Park
Davi85 Way
Loudwat8r
High Wycombe
Bedfordshire
HP10 9QR
UK
The trustees
A Aggarwal
L Carnfield
G Mowat
H Finn
C Clusker
C Balfour-PcM)le
Bellamy
R Swyer
R Blyth
N Orrin
C Angrand
{Resigned 29 February 2024)
(Resigned March 2025)
(Appointed 13 May 20241
(Appointed 28 April 2025)
The resignation of C Clusker reflects tumover within Costa Coffee. where the trustee has stepped down
from their position at the Foundation as a result of leaving their corporats role at Costs Coffee.
The Foundation was incorporattsd at Companies House on 10 May 2012, registered as a charity with
the Charity Commission on 23 May 2012 and whh the Office of the SGr)ttish Charity Regulator on 17
September 2012.
Prior lo the incorporation of the Foundation, donations were collected in an account maintained by
Charities Trust. an independent registered charity, PLErsuant to an agreement with Cosla Limited and
with the intent that the monies in the account would be used for similar charitable purposes to those
adopted by the Foundation. Fdlowing incorporation, Charities Trust transferred the fvnds then held by
them to the Foundation.
The Articles of A$so¢iation of the Foundation established the objects and powers of the Foundation. In
the event of the Foundation being wound up, members are required to contribute an amount not
exceeding £1 each.
Company secretary
Gillian Long12024)
Ex8cutive Dlrector
Kate O'Brien

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2024
Audltor
MC Audit Limited
Statutory Auditors
Station House
North Slreel
Havant
Hampshire
P09 1QU
Bankers
National Westminster Bank PIC
PO Box 12263
1 Princes Stre61
London
EC2R 8PH

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report {Incorporatlng the Dlrectorfs Report)
Year ended 31 December 2024
Structure J govemance and management
Relationship wlth Cosla Llmltgd
Under the Artides of Association of the Four)dation, Costa Limitad I'costa'l has the power to appoint
Trustees of the FoundatlDn provided al least two Trustees are appointed by the Board of Trustees.
Cogta is party lo a Commercial Participalion Agreement with the Foundation to enable Costa to raise
funds through the sale of certain products from which it has agreed to donate certain proceeds lo the
Foundalion. Funds were also raised via fundraising from Costs s employees and members of the
publi¢.
Fundralsing Approach
The Foundats'on's approach to fundraising Is to predominantly use the relationship with Costa, its
employees, customers and partners to raise funds through fundraising activities and the sale of
products. The Foundation does not carry out street fundraising. fundraising mail shots or lelephone
canvassing.
The Foundation wo￿$ wth Costa to ensure fundraising for the Foundation complies with recognised
Stsndards. Fundraising practice is monitored by the trustees of the charity, including any ftJrKlraising
complaints (none were received during 20241 and a￿ayS seek to protect the public, including vulnerable
people, from unreasonabty intrusive or persistent fvndraising approaches and undue pressure to
donate.
Governing Docufflent
The Foundatior) is incorporated as a private company limited by guar8ntge No.08064488.
The Costa Foundation is a registered charity in England and Wales No. 1147400, a registered
charity in SEOtland No.SC043414.
The Articles of Association of the Foundation estsbli5hed the objects and powers of th6 Foundation.
Organi5ational Stnjcture
The Board of Trustees meets at least four times a year and ov8rsees finance, current project work and
the future Strategy of the Foundation.
The Foundation also has one sub-committee.. the Projects Commtttee. Th8 purpose and duties of this
ommittee ts set out in the terms of reference and are broadly ouuired below. The purpose of the
Projects Committee is= a) To recommend lo the Board the projects strategy in fulfilment of the
Foundation's Theory of Change- bl To prepare annual budgets for projects and other matters within the
remit of the Committee.. cl To considerf¢x approval all projects presented for funding by the Foundation,.
dl To develop and implement a system for the monitoring and evaluation of Foundation projects., and
el To monitor all external d81ivery partners for Foundation projects and lo recommend new partners to
the Board.
The Projects Committee uses a strategic matrix to assist in the evaluation of project proposals and
collects detailed monitoring and evaluation information on Foundation projects lo measure their impact
and success across a number of key performance indicators. It reviews delivery partner performance
and approves delivery partners when appropriate.
Tru5tee5 visII projects to improve their understanding of the educational needs in coffee growing
communities and to cheek that the funds ar8 being used appropriately.
The FoLJndation held Trustee Indemnlty Insurance during the period.

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2024
Faye Southey was recruited as Project Officer in April 2024 to provide additional support to Kale
O'Brien, Executive Directtsr of the Foundation.
Principal risks and uncertainties
The Trustees have examined the major strategic, financial, operational and ￿pu￿tiOnal risks which the
charity faces and regularfy review what actioris can be taken to mitigate these risks. The five risks that
would have the highest impact are.. a significant decrease in ir)come, especially given reliance on a
single supporter {Cosla Coffee and related enliliesl,. a reduction in pur¢hasing power due to infiation or
currency movements., a safety or security incident on a monitoring visit to one of the cotAntries the
FoLbndation funds., reliance on a small Ipam lo deliver the work of the Foundalion.- safeguarding issues
in Foundation funded sch(iols,' and misconduct by staff of delivery partners on or off Foundation
projocts.
These risks are mitigated by ongoing Investment in building and maintaining strong and positive
relationships with Costa and the Foundation's delivery partners. In addition. the Foundation has a
safeguarding policy, conducts due diligence with delivery partners, and visits projects to mitigate against
Ihe risk of misconduct or breaches of safety. A full risk assessment is conducted before any overseas
trip with appropriale training and molliloring measures in place for all Iravellers. Grants are given based
on the funds available in the bank and no project applications are fully approved unless the Foundation
has sufficient funds to cover the entire budget raquired for that project. The Foundation purchases any
rèquired currency once a project has been approved to mitigate any risk of unaffordability as a result of
currency fluclualions.
Obje¢tives and activltlos
The Foundation's Articles slate the charity's purpose is.. Prevention ￿ relief of povety- Advancernent
of education, including the establishment & operation of schools & other educational establishments.,
Advancement of health or the saving of lives.. 2nd Advancement of environmental protection or
environmental improvement, in all cases anywhere in the world, in particular (without limitation) within
coffee growlng communities and surrounding areas.
The charity's vision is lo eradicate povety in coffee grawing communities and its mission is lo improve
the life chances of children and young people in coffee growing communities by providing the
opwrtullity of a safe, quality education.
In the consideration of projects. the Trustees have due regard to the Charity Commission's guidance
on public benefit. The Trustees always ensure that the projects ulldertaken are in line with the aims and
objectives of the Foundation and use ils Theory of Change lo guide their decisions.
All projacts continue to be implemented via delivery partner5 based in th8 Countries where the projects
are undertaken. The delivery partners range ffom Gharitab18 nOn￿overnMental organisations lo Ihg
sustainability teams of ¢offee companies.
Most grants awarded by the Foundation fund schools that provide access to a safe, quality education
for child￿n and young people within coffee growing communities. All new school construction projec15
are required lo have fresh water and separate sanitation facilities for boys and gids. Depending upon
local needs, the Foundation also funds child nutrition programmes. electricity installations, boarding
accommodation, leachers. aGcommodation, libraries, science labs, computer labs, sports pitches and
safety infraslNcttfre such as perimeter fencing, safety lighting and flood barriers. The Foundation also
awards grants lo expand Schools previously built with Foundation funds.

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Dlrectorfs Report)
Year ended 31 December 2024
The Foundation works with communitles and local authorities where ils school projects ar? located via
its delivery partners but does not employ teaching staff or fund school places. Th8 schoo15 funded in
Uganda and Zambia are operated by a charity called Promoting Equality in African Schools ('PEAS")
where the teachers are employed and paid by PEAS. More information is on the PEAS websit8 at
www.peas.org.uk. AJI other Foundation fuNded schools are run by tea¢hers trained and fund8d by the
local education authorities or other NGOS. This system ensures the sustainability of the schools as they
are not reliant upon continued funding from the Foundation in order lo operate.
The Foundation does award grants to fund training for teachers and schoot leaders lo improve the
quality and safety of education. It also funds 8quipment to enhance education. such as for extra
curricula activities.
The Foundation also recognises the opportunity to @nhanc8 the quality of education by fijnding
programmes to improve the quality and accessibility (especially for gidsl of education, welbelng and
safety.
Achiavements and performance
Projects Funded from 1 January 2024 to 31 December 2024
During the year ended 31 December 2024, 15 proj8cls funded by the Foundation were complet8d by
our partners. supporting ovèr 8,000 children and young people in coffee growing countries. Th8 global
ir)flation and geopolitical challenges, impact of the climate crisis causing delays due lo adverse weather
¢ondilions, and local administrative delays continue lo challenge our partners, and mean projects are
higher cost. Thanks to exceptional fundraising from the teams across Costa Coffee and our partners,
we've been able to fund 17 projects in 2024. including eight school construction5 and three
programm6s. These illclude funding Cycling for Su¢¢ess in Uganda, after a successful pilot in Zambia
and Te8ching at the Right Lavel tTaRLI in Ethiopia to address the sever8 learning poverty in the country.
This is the first time this aGceleraled learning programme has been piloted in Ethiopia.

The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report Vn¢orporatlng the Directorfs Report)
Year ended 31 December 2024
The new projects awaréed funding in 2024 are as follows..
Country &
Project
Partner
Grant
amount
Project
D¢$¢ription
Tenn
El Remolino
School
perimeter
fence,
Taminango,
Narino
Perimetèr fence for existing school
funded by the Foundation to ensure the
safety of sttJd8nts.
Colombla -
Carcafe
£67,670
2024
Sanitation
upgrades
PEAS Noble
Secondary
School,
Ibanda
District,
Western
Uganda
Construction of a 7-stance sanitary block
plus a 2-slance block for adults.
including staff and visitors. An incinerator
was installed for safe menstrual waste
disposal, which was transferred from
PEAS Noble lo PEAS Bwesumbu. a
neighbouring Cosla Foundation school In Uganda-
Kasese District.
PEAS
£19.700
2024
Sanilat40n
upgrades al
PEAS Aspire,
Ibanda
District,
Weslem
Uganda
Rural
education and
child labour
prevention
programrne,
El Zapotal,
Esquipulas.
Chiquimula
Construction of a 7-stance sanitary block
plus a 2-stance block for adults.
induding staff and visitors. An incinerator
was installed for safe menstrual waste
disposal.
Uganda-
PEAS
£19.700
2024
Provision of education for children during
coffee harvest. including provision of
food, sensilisation work with parents &
carers on child labour and nutrition.
Guatemala-
Seeds for
Progress
£43.023
2024-2026
Conversion of Construction of a new classroom, office.
rural
warehouse, sanitation facilities and
govemmenl
romodel of existing classrooms of
school in El
govemmenl school. Cornplemenled with
Zapotal,
teacher training, technical assistance,
Guatemala-
Esquipulas,
edLtcalional materials lo enhance access S8eds for
Chiquimula
lo edueation.
Progress
£98.203
2024-2025

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report {Incorporatlng the Dlrectorfs Report)
Year ended 31 December 2024
Infrastmclure projects on three 5¢hools
and training sessions for families on
identification of protection risks, gendgr
equality and inclusion in La Paz.
Honduras-
Plan
Inlemational
UK
BLJilding a
better future
for Honduras
£180,1K)0 20242025
Building a
safe, holistic
learning
envirDnment-
PEAS Kabuta
Secondary
School
Zambia-
PEAS
Multi-purpose sports pitch
£10,561
2024-2025
8uilding a
safe, holistic
learning
environment- Mulii-pury)ose sports pitch, purchase of
PEAS Aspire
land, solar power & rainwater harvesting,
Secondary
gids, dormitory, girls, sanitation block. 4
School
classroom block & fumilure
Uganda-
PEAS
£69,224
2024-2025
Building a
safe, holistic
leaming
&nvironment-
PEAS
Hibiscus
Secondary
School
Uganda -
PEAS
Multi-purpose sports pitch
£10.561
2024-2025
Building a
safe, holistic
leaming
environment-
PEAS Pioneer
Secondary
School
Uganda-
PEAS
Multi-purpose sports pitch
£10,561
2024-2025
Monitoring.
Evaluation,
Reporting &
Learnirng &
lechnical
support
Support to cover the monitoring of 38
schools in Ethiopia
Ethlopla-
Imagineloay £10,743
2024
Accelerated leaming programme in S
C05ta Foundation fundèd primary
schoo15 in Gedeo Zone focusing on
literacy and numeracy.
Teaching at
the Right
Level ITaRLI
Ethiopia-
Imagine1Day £180.106 2024-2027

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Di￿¢t0￿5 Report)
Year ended 31 December 2024
Computer labs
al Arda Qalu
Secondary
School
Provision of 20 computers. networking
cables, adaptors, 20 chairs and tables & Ethiopia-
a whiteboard
Imagine1 Day £3,550
2024
A brilliant
future for
Guatemala's
rural children
in coffee
growing
communilios
Infrastructure projects on two schools
arTrd training s8ssions for families on
idenlificalion of protection risks, gender
equality and inclusion in San Pedro
Carcha, Alla Verapaz
Guatemala -
Plan
Inlemational
UK
£180,000 2025-2026
Programme lo loan bicycles to 291
students at 4 Costs Foundation funded
schools in Uganda.
Cycling for
Success
Ugand8-
PEAS
£81,964
2024-2025
Construction of secondary school of two
blocks of 4 classrooms, library, science
block with 4 classrty)ms, sanitation
facilities for students & leach8rs, clean
water and menstrual hygiene
management facility.
Chekala
Secondary
School
Ethiopia
Imagine1Day £294,562 2025
la Pel nursery Construction of nursery school, inclLJding
school, D8k
upgrade of existing classrDOrnS and
Doa Dislrlcl,
building of 4 new ones, PE hall. rnedical
Vietnam-
Gia Lai
room, sanitation facilities for children and ACOM
Province
staff and water supply.
Vialn8m
£209,655 2025
Cornpleted 2024 Funded 2024
New schools
School proje¢ls
Expansions
Prograrnmes
Total all projects
Totsl grant value of projeds
Total # children and young people supwrted via grants
10
15.
17."
£1,489,783
10,674
£1,730,018
8.428
'One project included the construction of ￿ schools
One project includes the construction of schools and another the construction of three schools.
10

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporaling the Dlrectofs Report)
Year ended 31 December 2024
What some of the Children and young people from the communities we have support8d 5ay=
The sclyool b8for9 was 'rustic', had cracks, was darpgerous, I dKlnY want to come to school...Having a
beautiful school with good t8ach8rs makes children want to come to s¢hool 8nd leam." 17-year￿1
student al La Jalquilla School, Peru.
'If it wasn't for the hlgh school built by Costa Foundalion and Imagine7day, l ¥vouldnt have had the
chance to continue my education. The school is very Glose to where I live, and without it, my mother
could never have aflorded to send me to a school far awa￿, 21-year-old, Grade 12 student at Adame
High School in South Ethiopia
"The facilities here 8re amazing. W8 have everything we n8ed to leam. The labor8torles help me
understancl blo1(￿Y better, and the library has opened my eyes to so many new things," Marf(os says.
"tts mor& th8n l everimagineda school could b6.- 28-year-old Grade 12 student atAdame Hlgh School,
Ethiopia
"Ihe new SGhool is am8zing." says Mintesnol, 'We have desks. gender segregatedlalrine, clean water,
a library with lots of books, and th8 classrooms are bright and beautiful. I fe61 like we can really leam
here. 14-year-old. Grade 5 student at Wote Primary School. Ethiopia
We would lik8 to take this opportunity lo thank all at Costa Coffee, their partnars who have supported
the Foundation and other donors for their partnorship and support. This inolud9s tho Moto Foundation,
Roadchef, Odeon and Jim's Organic Coffee. We would also like to give special thanks to our delivery
partners who work so effectively with lo￿1 Communities and other key Stakeholders, often in challengin9
circumstances. We are delighted that we￿e been able to report continued activity at the levels shown
above and truly appreciate their hard work, resilience, commitment and absolute focus on providing the
opportunities to positively change the life story of so many children and young people in coffee growing
cofflrnunitses.
Communication
Our website contains vi(J¢os. case studies and stori8s from around the wodd. For more information visit
www.costafoundation.com. In addition, our Instagram page l@coslafoundalionl and Linkedln page
Ihttps".Ilwww.linkedin.comlcompanylcoslafoundalionl are regularly updated with images from coffee-
growing communities around the wodd that have benefited from a Costs Foundation funded project
plus many stories and images from our inspirational fundraisers in Cosla Coffee stores and beyond.
Flnanclal review
Total income for the year ended 31 December 2024 was £1,912,360 12023.. £1,589,574 & 2022..
£1,287,715). The increase in income is Pfedominanuy due lo brilliant fundraising in Costa Coffee stores
in the UK and Ireland. a fantastic y8ar of merchandise sales where £1 is donatod to the Foundation for
specific reusable cups and from 8V8nts such as the annual bike ride organised by Costa Coffee teams
and Cosla Golf Day.
£1,769,656 was paid out or formally committed to in the year 1 January 2024 10 31 December 2024
and a further $712.745.16 and £172,561 in 2024 or prior years bul nol accrued for as the relevant
milestones were subject to conditions being met. Other expenditure of £196,639 was made in ￿Spect
of management of Ihe projeels and costs relating to the running of the Foundation. Reserves at 31
December 2024 amounted to £1,476,726 131 December 2023.. £1,094.488 & 31 December 2022..
£1.173.5861.
Reserves and Invostment Policy
The ResaNes at the year-end of £1,476.726 comprising £1,369,930 of ¢ash are held mainly by the
Foundation and partly by Charities Trust. The Trustees monitor reserve levels regularly to ensure that

The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Di￿¢10￿$ Report)
Year ended 31 December 2024
all commitments are mel and that future project requests are reviewed on a timely basis. Funds are
only commilled lo new projects once the income has been received. As a result, there is a delay of
some months between th8 receipt of funds, the approval of projects and Ihg subsequent expenditure of
funds to complete those projects. Those funds identif￿￿ for future projects are held in ¢ash balances
for safekeeping pending their expenditure.
The reserves policy was changed in the year to increase from £75.0(N) 10 £200,000 in order to provide
for a dose down of the Foundation. This is calculated based on the costs of {il keeping currently
employed staff in position for or¢e year lill Board Secretarial and accounting for one year and {iiil an
allowance for ad hoc additional costs such as travel. As prDjecls are not signèd off until fund5 are
received, reserved funds are not required ftsr uncertainty of future income, or "troughs. in the cash
budget.
Investment Policy
During the year an investment policy was agreed lo slat8 that £200.000 reserves are to be invested in
interesl bearing savings accounts. AJI savings are lo be invested in Fin8n¢ial Services Compensation
Scheme IFSCS) protected inslitulions, with no more than Ihe proleeled £85,000 invested in a single
institub'on. Savings accounts are lo be GBP denominated and may be 'nolice deposits, requiring
advance notice of withdrawals. Investment may be made through a trusted investment portal such as
that provided by the Charities Aid Foundation.
Truste8s' rospon$ibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for prepafing the
Iru5tees' report and the financial statements In accordance wth applicable law and Uniled Kingdom.
Accounting Standards {United Kingdom Generally Accepted Accounting Practice}. Company law
requires the charity trustees lo prepare financial slalemenls for each year which give a true and fair
view of the slate of affairs of the charitable company and Ihe incoming resources and application of
resources, induding the income and expenditure, for that period.
In preparing these financial slatemenls, the trustees are required to..
select suitable accounting policies ancl then apply them consistently,.
obserye the methods and principles in the applicable Charities SORP.,
make judgrnents and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going wncern basis unless it is inappropriate to
presume that the charity will continue in business.
The Iruslees are responsible for keeping adequate accounting records that are sufficient lo show and
explain the charity's transactions and disclos8 with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial stalemgnls comply with the
Companies Act 2006. 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 Ir￿g￿larities.
12

The Costa Foundation
Company Limited by Guarant••
Trustees, Annual Report (Incorporating the Dlrectovs Report)
Year ended 31 December 2024
Auditor
Each of the persons who is a truste8 al the date of approval of this report confirms that..
so far as they ar8 aware. there is no r8levant audit information of which the charity's auditor is
unaware.. and
they have taken all steps that they ought lo have taken as a trustee to Make themselves aware of
any relevant audit information and to estsblish that the charity's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies enlilled to
the small companies exemption.
The trustees, annual report was approved on 24thJuly 2025 and signed on behalfof the board of Irust¢e$
by-.
R Swyer
Trustee
13

The Costa Foundation
Company Limited by Guarantee
Independent Audilorfs Report to the Members of The Costa Foundatlon
Year ended 31 December 2024
Opinion
We have audited the financial slatemenls of The Costa Foundation Ilhe 'charilable company'} for the
year ended 31 December 2024 whi¢h comprise the Slalement of Financial Aclivilies. the Balance Sheet
and notes to the financial statements. including a summary of signrficanl accounting poliaes. The
financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards (Uniled lfjngdom Generally Accepted Accounting Practice).
In our opinion the financial statements".
give a true and fair view of the slate of the charitsble company's affairs as at 31 DeEember 2024 and
of its incoming resources and application of resources, including its result, for Ihe year Ihpn ended,.
have been properly prepared in accordance with United Kingdom Generally Accept8d Accounting
Practice., and
have been prepared in accordance with the requlrem@nts of the Companies Act 2006.
have been prepared IN accordance with the requirements of the Charities and Trustee Investment
{Scollandl Act 2005 and regulation 8 of the Charities Accounts Iscotland) Regulations 2006 las
amended}-
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISA5 IUKI) and
appllcable law. Our responsibilities under thos8 standards are further described in the Auditors,
respofbsibilities for the audit of the fillancial stat8menls section of our report. We ara indep8ndent of
the charitable company in accordance with the ethical requirements that are relevant to our audit of the
finallcial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit eviderKe we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slatements. we have concluded that the trustees, use of the going concern basis
of accounting in th@ preparation of the financial statements is appropriate.
Based on the work we hava performed. we have r￿t identified any material uncertainties relating lo
events or conditions that, individually or collectively, may cast significant doubt on the charitable
companls ability lo continue as a going concern for a period of at least twejve months from when the
financial statements are aulhorised for issue.
Our responsibilities and Ihe responsibilities of the trustees with respect lo going concem are described
in the relevant sections of this report.
other Infomiatlon
The trustees are responsible for the other information. The other information comprises the information
induded in the Annual Report, other than the fillancial slalomenls and our Report of the Independent
Auditors thereon.
Our opinion on the financial statements does not cov&r the other Infr•mation and. except to the extent
otherwise explicitly stated in our report, we do nol express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our ￿sponsIbIlItY is to read the other infomiation
and, in doing so, consider whother the other inforrnation 15 malgrially inconsislenl with thg financial
statements or our knowledge obtained in the aLbdil or olh8rwise appears to be Fnaterially misslated. If
we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have performed, we conclude that ther& is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.
14

The Costa Foundation
Company Limited by Guarantee
Indepondent Auditorfs Report to the Members of The Costa Foundatlon
Year ended 31 December 2024
Opinions on other matters prescribed by the Companles Acl 2006
In our opinion, based on the work undertaken In the course of the audit..
the infomiation given in the Report of the Trustees for the financial year for which the financial
statem8nls are prepared is consistent with the financial stslements. and
the Report of the Trustees has been prepared in ac(x)rdance with applicable kgal requirements.
Matters on whlch we are requlred to report by exception
In the light of the knowledge and understanding of the charitable company and its environmerst obtaine
in the course of the audL we have nol identified material misstatements in the Report of the Twstees.
We hav8 nothlng to report in respect of the following mallers where th8 Companies Act 2006 requires
us to report lo you if, in our opinion..
adequat8 accounting records have not beèn kapt or returns adequate for our audit have r￿t been
r8C8ived from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of trustees. remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit. or
the trustees were not entitted to lake advantage of th& small companies exemption from the
requirement to prepare a Strategic Report or in preparing Ihe Report of the Trugtees.
Responslbilitios of trugtees
As axplain8d more fully in the Statement of Trustees, Responsibilities, the trustees {who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied thal they give a true and fair view, and
for such internal control as the trustee5 delem)ine is necessary lo enable the preparation of financial
slatemenls that are free from rnaterial ffli5ststement, whelher due to fraud or error.
ID preparing the financial statements. the trustees are responsible for assessing the charitable
company's ability to continue as a going concem. disclosing, as applicable, mattars r8lated to going
concem and using the going con￿rn basis of accounting unless the trustees either int8nd lo liquidate
the charitable Company or to ￿se 0￿ratIOnS, or have no rèalistic ahemative but to do so.
Our responsibilities for th• audit of tha financial $tatèm6nts
Our objectives are to obtain rea50n8ble assurance about whether the ffnancial statements as a whole
are free from material misstatement, whether due lo fraud or error, and lo issue a Report of the
Independent Auditors 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 IUKI will always delect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
if, indniidually or in the aggregate. they could reasonably b9 8XP8Cted to influence the economic
decisions of users taken on the basis of these financial stal8ment5.
The extent to which our procedures are ¢apable of detecting irregularities, induding fraud is detailed
below..
From discussion wllh management and those Charged with governance information at)out the entity is
documented to asse55 the activity within the organisation. We discuss managemenvs assessment of
rigk in resp8Ct of irregularities, fraud and going concem.
Based on th8S@ discussions and our own assessments wè delarmined that the key risk ar8as were
income recognition in 185pect of cul off issues and managemént override concerrting the size of the
oryanis8ti0n.
15

The Costa Foundation
Company Limited by Guarantee
Independent Auditorfs Report to the Members of The Costa Foundation
Year ended 31 December 2024
We set financial statement materiality level based on the level of income. As a not for profit organisalion
raising income is its primary focus which is why income was used to detemiine the level of materiality.
Our overall assessment of risk was used to determine performance materiality al an appropriatelovel.
Substantive audit lesls were designed after assessing and performing walkthrough tests. The
walklhrough testing confirmed documented systems which have been designed to act as a preventslive
easure against fraud and error which appear to be operating as documented. Substantive testing
tested a sample of the population. fepresenlalive of the population. lo identify errors. The testing did
not identify any material misslalements in areas tested.
Audit substantive tBsts concluded no material errors over the key risk areas of income recognition and
management Override.
The audit considors the organisation is not exposed lo material risk of error as a resLJIt of assessing
laws and regulations that are appropriate lo the organisalion.
ManagerTTenl assessed Ihere is no going concern risk. Tre audit undertook a review of budgets,
rnanagernenl aGGounts and Ihe review of board minules and came to the same conclusion as
management.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at vvww.frc.org.ukJauditorsresponsibilities. This description forms
part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter
3 of Part 16 of the Companies Acl 2006. Our audit work has been undertaken so that we might slate lo
the charitable company's members those matters we are required to state to them in an auditors. report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
reswnsibility lo anyone other than the charitable company and the charitable company's members as
a body. for our audit work, for this report, or for the opinions we have formèd.
Stuart Mackie (Senior Slatutory Audilorl
for and on behalf of MC Audit Limited
Statutory Auditors
Staliofj House
North Street
Havanl
Hampshire
P09 1QU
Date= ...

The Costa Foundation
Company Limited by Guaranlee
ststement of Financial Actlvlties
(Including income and expenditure arxount)
Year ended 31 December 2024
Restated
2024
Restrided
funds
2023
Total
funds
Unreslri¢ted
funds
Total
fvnds
Income
Income and endowments
Donations and legacies
Total income
Note
1,712,360
200,000
1,912,360
1,589,574
1.712,360
200,000
1.912.360
1,589 574
Expendilure
Expenditure on charitable
activities
1.615,946
192,449
1,808.395
1,382,848
Total expenditure
1.615,946
192,449
1,808.395
1.382.848
Net {expenditurellincome and
net movement in funds
96,414
7,551
103.965
206,726
Reconclllation of funds
Total fijnds brought forward
1.380,312
1,380,312
1.173,586
Total funds carried forward
1.476,726
7.551
1,4e4.277
1.380,312
The statement of financial activities includes 811 gains and losses reeognisad in thè yèar. incoma and
expendtture deriv8 from continuing aGtivilies.
17

The Costa Foundatlon
Company Limited by Guarante8
Slatem•nt of Financial Position
Year ended 31 December 2024
Reststed
2023
2024
Not8
Currant ossets
DebLor#
14
324,600
366.995
Cash at bank and in han
1.369.W30
4,200
1,694,531
1,591.195
Cr•dttoT>: amounts falllng due wlthln on•
year
Net current a88ets
1484,277
1.380312
Total assets less curent Ik4bilitK8s
1.484.277
1.380.312
Funds of the charlty
Ra5trictffll funds
7,551
UkY8Strict8d funds
1476 726
1,380312
Total charlty tunds
17
1380312
These firtancial statements have been preparpd in accord8rK* wlth the prov￿10￿5 applicable to
companles SAthjéct io tho s¢hall ¢ompanigs' rguimo.
Th860 financial statements were approved by the board of trustses and authorts8d for Issue on 24th
JU￿ 2025. and are sSgned on behalf of the board by:
R Swyer
Trusts8
The C05ta Foundation is a Compony linit8d tyguar8nt88 r89ista￿d in ENJl8TKI and Wgles. Company
mberO8064488. Clty numb￿ 11474tlO.Scolbsh dwrity rllThb¢r SC043414t
18

The Costa Foundatlon
Company Limlted by Guarantee
Year ended 31 December 2024
Restated
2023
2024
Cash flows from ppèratlng actmtles
Net {expeiKlitureKncom6
103,965
2(￿.72¢
Intwest payat48 and #lmlar charg
272
Changes In."
Trada and 0th8r dobtors
42.395
(34Q418)
Trade and other creditors
127,657
Cash ger￿rated 1￿M opgratvJn$
145,730
1267.Q77)
Intar8St pwd
272
Ngt (used in) From operatlng actfvlts'gs
145.73Q
Not {dpcrea$e￿ftcrè88? In cash end cash gwivalgnts
Cash and cash equlvalents at beglnnlng of year
00 1491549
Cash and eash aquivalents at and ot year
1369 930
1224.200
19

The Costa Foundation
Cornpany Limited by Guaranteo
Notes to the Financial Statements
Year ended 31 December 2024
1. General infom7ation
The Cosla Foundation is a company limiled by guarantee. incorporated in England and Wales.
The address of ils registered offi¢e, its rogistered numbers and principal place of business is
dlsclosed in the Trustee's Annual Report.
The pnncipal activity of the charity is the advancement of education, the relief of poverty and the
advancement of health and environment of coffee-growing communities aroLJnd the world. The
financial statements are prepared in slerlirbg, and this is the functional currency of the Charity.
2. sL￿ement of compliance
These financial statements have been prepareil in compliance with FRS 102, 'Tho Financial
Reporting Standard applicable in the UK and the Republic of Ir8land', th8 Statement of
Recommended Practice applicable to chari118s preparing their accounts in accordance with Ihe
Financial RepDrting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharitr'es
SORP {FRS 10211 and the Companies Act 2006.
3. Accounting policles
Basis of preparation:
The financial statements have been prepared on tha historical cost basls, as modified by the
revaluation of certain financial assets and liabNities and investrnenl prop&rties measured at fair
value through income or expenditure.
The financial statements are prepared in Sterling, which is the fvnctional Gurrency of the enllty.
Going concern"
These financial stal&ments have been prepared on the going concern basis. This is based on the
charity reserves policy, plus the lacl the chartty only commits lo projects once income has been
raised. committed projeel expenditure is already secure. Th8r8fore, we do not view any going
concem risk for the charity.
Judgements and key sources of estimation uncertainty..
In applying the company's accounting policies, the trustees are required to make ludgements,
estimates and assutnplions in determining the carying amounts of assets and liabilities. The
trustees. judgemènts, eslimales and assumptions are based on the best and most reliable
evidence available at th8 limg when the decisions are made and are based on historical
experience and Other factors that are considered to be applicable. Due to the inherent subleclivity
involved in the making such judgements, estimates and assumptii)lls, the actual r8sults and
outcomes may dtffer.
The truslees do not GOnSider there lo be any significant judgements. estimates or assumptions In
these financial stalemenls.
Foreign exchange-.
Transactions denominated in foreign currencles are translated into sterling on the exchange rate
ruling on the date of the transaction.
20

The C05ta Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
Fund aGGounting=
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purpo$es.
Designated fvnds a￿ unrestricted funds earmarked by the truslees for particular fijture project or
Gommilment.
Restricted funds are subjected lo restrictions on their expenditure declared by the donor or
through the temis of an appeal and fall into one of two sub-classes- restricted income funds or
enéowment funds.
Incoming resourc¢s=
All income is included in the statement of financial activities when entilement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the
Charity and the amount can be reliably measured.
Resources expended..
All support costs incurred have been allotat8d ba￿een charitable expenditure and goveman¢e
as appropriate. There aro no costs relating to mor& than ono functional cost category. All
expenditure and liabilities are included on an accruals basis and Tecognised when there is a legal
or conslructiV8 obligation to pay OUÉ resources.
Financial instruments..
The Costa Foundation has only financial assets and liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initlally recognis8d at transaction values and
subsequently measured al their s¢lllomant value.
Defined contribution plans-
Colltribulions lo defined contribution plans are recognised 8s an exp8nse in the F)eriod in which
the related seryice is provided. Prepaid contributions are recognised as an asset lo the extent that
the prepayment will lead lo a reduellon in future payments or a cash refvnd.
When contributions are not expected to be settled wholly within 12 months of the end of the
r8FX)rting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognis8d as an expense in the
period in which it arises.
4. Limited by guaranlee
The Foundation is incorporated as a private company limited by guarantee. The Articles of
Assoaation of the Foundation established the objects and powers of the Foundation. In th8 event
of the Foundation belng wound up, members are reqUI￿d to contributs an amount not exc8eding
£1 each.
21

The Costa Foundation
Company Llmited by Guarantee
Notes to the FSnanclal Ststements
Year ended 31 December 2024
5. Donation¥ and legacie5
Utsrestricled
Funds
Restricted
Funds
Totsl Funds
2024
Donations 2024
Donations from sales of products in
Costa stores
Store Fundraising
Matched Giving
Donab'ons from Costa
Donations from fundraising
General and gift aid donations
Payroll Giving
262,560
1,010,387
200.000
200,000
462,560
1,010,387
200,000
149,997
89.416
149,997
89,416
1,712,360
200,000
1,912.360
Unffstricled
FLJnds
Restricted
Funds
Total Funds
2023
Donations 2023
Donations from sales ol products in
Costa sloros
Store Fundraising
Matched Giving
Donations from Cosla
Donations from fundraising
General and gift aid donations
Payroll Giving
390,869
861,125
179,129
20.000
94,394
33,274
10,783
1589,574
390.869
861,125
179,129
20,000
94,394
33,274
10,783
1,589,574
22

The Costa Foundation
Company Limited by Guarantee
Noles to the Financial Statements
Year ended 31 December 2024
6. Expenditure on charftable activities by fund type
Unrestricted
Funds
Restrfcted
Funds
Total Funds
2024
Project Expenditu￿ (note g)
Project management costs
Costs of raising funds
Support costs
1.418,826
28,721
39,101
129,298
1.615,946
192,930
1,611,756
28,721
39,101
128,817
1,808,395
481
Restsled
Unrestricted
Funds
Restricted
FLJnds
Total Funds
2023
Project Exp8nditurÈ {note 91
Project management (y)sts
Costs of raising funds
Supwrt costs
1,163,334
115,251
3,836
66,258
1.348.679
34.169
1,197.503
115.251
3.836
66,258
1,382,848
7. Support costs
Unrestrided
Funds
Restricted
Funds
Total Funds
2024
Governance costs
other support costs
8.822
120,476
129,298
8.822
119,995
128,817
481
481
Unreslricled
Funds
Restricted
Funds
Total Funds
2023
Governance costs
other support costs
16,685
49,573
66,258
16.685
49,573
66,258
23

The Costa Foundation
Company Limlted by Guarantee
Notes to the Flnancial Statements
Year ended 31 December 2024
8. Expendlture on charltable actlvltles by actlvlty type
Restated
Grant
funding
of
activities
Aclivib'es
undertak8n
direcdy
Total
Funds
2024
Support
Costs
Total Funds
2023
Pro1￿1 Expenditure (note
9)
1.611,756
1,611,756
1,197.503
Project management costs
28,721
28.721
115.251
Costs of raising funds
39,101
39.101
3.836
Other support
119,995
119,995
49.573
Govemance costs
8.822
8,822
16,685
1,679,577
128.817
1.808 395
1,382,848
9. Project Expenditure
Reslaled
Total
Funds
2023
Unreslricted
Funds
Restricted
Funds
Total
Funds
2024
Included in proj8ct expenditur8 is:
FX adjustment on US projects
Prog 3 Mental Health
Prog 4 Guatemala Food
P de Julio
Lien Son Nursery School
Tan Chau Nursery School
Dlna's Prfmary
Bekkaye water expansion
Angetu
Melka
Gabicho Primary
Madri2 Nicuamgua Jinolega
San Jose de Lourdes
La JaJquilla Primary
San Pedro Carcha 2
Aspire High School
Bridge High school - domiitory
23,080
34,122
38,785
104,772
105,201
106,a84
145,298
35,162
17.060
17.060
145,298
8,732
102,563
18,383
105.188
106,D71
105.188
106.071
109.257
34,777
34,777
24

The Costa Foundation
Company Limlted by Guarantee
Notes to the Financlal Statèments
Year ended 31 December 2024
Dimlu High Science Lab San Cados
Adeyi Primary School
Garbi Galo Primary School
Harawa Kale Primary School
Bwesumbu High School Expansion
El Remolino Perimeter Fence
Rural Government Sch(x)l - Zapotal
Community
German Pomares Ordonez and Azarias H.
Pallais primary school
Chekata Secondary School
Land Expansion at PEAS Bridge
PEAS Aspire Construction of Sanitary Block
with incinerator al PEAS Aspire
Aspire, 13E3- Hibiscus, 20E3- Pioneer
PEAS Noble Construction of Sanitary Block
with incinerator at PEAS Noble
Building a Better Future for Honduras 4
Rural education and child labour project in
the Zapolal Community
Monitoring, Evaluation, Reporting, and
Learning IMERL) and technical support for
Costs Foundation funded Schools in
Ethiopia.
Compsjtsr Lab at Arda Qalu school
Brighter Future- Gual@mala
Kabuta 'Building a Safe, Holistic Learning
Environmenf. Construction of a multi-
purpose football pitch al PEAS Kabuta
Arda Qalu Secondary School Project
Monitoring & Evalualioll for project CF60
Mario
138.852}
14.156
12,661
55,093
55.093
71.069
29,097
100,166
113,5
134.278
13.437
73,832
187,338
134.278
13,437
19,700
79,785
19,700
79,785
19,700
90,000
19,700
90.000
21,546
21,546
10,973
3,696
10,973
3,696
90,000
90,000
10,561
128,019
10,561
128.019
1,829
1,829
Teaching al The Right Level {TaRLI for
Children in Costa Foundation
121,571
81,964
121,571
81,964
Cycling for Success Uganda
Repayment of surplus
Other project related
Committed, not paid:
Arda Qalu Sècondary School Project
Dina's Primary
Gabicho
La Pet Nursery School
Aspire. 13E3- Hibiscus. 20E3- Pioneer
San Jose de Lourd8s
Bridge High $chool- dormitory
(3.000)
13.0001
7,485
123.123
16.647
16,647
106.462
10.561
82,04Q
106.462
10,561
82,040
34,777
25

The Costa Foundation
Company Limited by Guarantoe
Notes to the Financial Statements
Year ended 31 Docember 2024
1,418,826
192,929
1.611.756
1,197,503
10. Taxation
The charivs activities fall within Ihe exemptions afforded by the provisions of the Income and
Corporation Taxes Act 2010. Accordingly, there is no taxation charge in these account5.
11. Not lexpgnditure)lincome
Net lexpenditurellincome is slated after chargingllcrediling)..
2024
2023
Fees payabl8 for the audit of the financial statemen15
7,680
7,038
12. Staff costs
The iotal staff Costs and employee benefits for the reporting period are analy5ed as follows..
2024
2023
Wage5 and salaries..
Employer national insurance costs
Employer contributions lo pension plans
87.567
9.888
2.627
100,082
38,289
2,848
41,137
The average head eounl of employees during the year was 212023.. 11. The average number of
full-time equivalent employees during Ihe year is analysed as follows..
2024
No.
2023
No.
Number of staff..
The number of employees whose remuneration for the year fell within the following bands. were..
2024
No.
2023
No.
£60,000 10 £69,999
Key Management Personnel=
Key management personnel include all persons that have authority and responsibility for
planning. directing and contrulling the activities of the charity. The total compensation paid to key
management personnel for servicos provided lo the charity was £80.37412023'. £41.137).

The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
13. Tru$tee remuneration and expenses
No trustee re￿Ived remuneration in the period to 31 DeGember 2024 {31 De¢ember 2023= £NIL).
InelLtded in the above is £5,277 of reimbursed expenses lo 3 trustees131 December 2023.. £1,957
to three trusl88sI. Trustse Indemnity Insurance was also in place during the period.
14. Debtors
Restated
2023
2024
AmoLfnts due from Costa Limited
Prepayments and accrued income
Other debtors
257,701
15,669
51,230
324,600
284,225
32,365
50,405
366,995
15. Creditors: amounts falling due within one year
Restated
2023
2024
Project expenditure Gornmitted. not
paid
Other creditors
199,064
191,193
11.190
210.253
19,690
210,883
16. Pensions and other post-retirem¢nt bènèflts
Defined contribution plans..
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £2,62712023.. £2.8481.
27

The Costa Foundation
Company Limited by Guarantee
Notes to the Financlal Statements
Year ended 31 December 2024
17. Analysis of charitable funds
At1Jan
2024
At31 Dec
2024
Income
Exp6nditure
General funds
1,380,312
1,712.360
1.615.946
1,476,726
A11 Jan
2023
At31 Dec
2023
Income
Expenditure
Genaral fijnds
1.139,417
1.589,574
1,348.679
1.308,312
At1Jan
2024
Income
Expenditure
Al 31 Dec
2024
Restricted Fund
200,000
192,449
7,551
At1Jan
2023
At 31 Dec
2023
Income
Expenditure
Restricted Fund
34,169
34,169
During the year the Foundation received £200,(M)O from Costa Coffee. This was spent as follows..
£90,000 was used for the first inslalmenl of the Project 60PC - Guatemala. $92,0891£73,8321
was used for the final inslalmenl of the Project 142 - Nicar8gua. $36.1281£29,097.471 was used
for was used for the flnal inslalment of the Project 1C- Guatemala. £480.90 was treated as a
currency exchange gain. This leaves a balanca of £7,551 of rèstricted funds lo be carried forward
to 2025.
18. Analysls of n?t assets between funds
Unrestricted
Funds
Reslricled
Funds
Total Fund3
2024
Current assets
1,686.980
7,551
1,694,531
CredifrKs less than 1 year
210,253
210,253
Net 855ets
1,476,726
7,551
1,484.277
Restated
Unrestricted
Funds
Restated
Total Fund8
2023
Reslricled
Funds
Current assets
1.591.195
1,591,195
Creditors less than l ygar
{210,2531
1210,8831
28

The Costa Foundation
Company Limrtod by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
Net assets
1.380.312
1,380.312
19. Analysis of changes in net debt
At 1 Jan 2024
Gashfiows
At 31 Dec
2024
Cash at bank and in hand
1.224.200
145,730
1,369,930
20. Commitments
The Costa Foundation had commitments of £563.644131 December 2023 Rèstated £525,129) at
the year end. These have not been provided for in the financial statements as they are subj'ect to
onditsons being met before payment.
21. Relaled parties
Al unrestriGted income receNed originaled from Costa Limited and their amployees, apart from
donations received via the Costa and Costa Foundation websites and third partlgs.
During the year. Cosla Foundation Trustee. Nick Orrin was named as dir8Ctorsloffic8rs on
Companies House of Cosla Ltd, and they were members of the Costa Ltd Executive Team. In
addition, Costa Foundation Trustees Chadotte Clusker and Cecile Angrand were members of the
Costa Ltd Execulive Team and Hayley Finn a senior employee of Cosla Ltd.
22. Restated 2023 figures
Some of the figl1￿$ as at 31 December 2023 have been restated due lo an error discov8r8d aft8r
the accounts were prepared. Project expenditure committgd, not paid accrual was overstated by
£251,047. This is made up of the following figur6s'. £84,150 for the second inslalment of th& Lien
Son Nursery School Project (1381 was accrued at 31 December 2023 bul was not due until 28
February 2024. £84,857 for the second instalment of the Tan Chau Nursery School1139} was
a¢cnJed at 310ecember 2023 but was not due until 01 February 2024. £82,040 for the second
instalmenl of the San Jose de Lourdes Student Residence Project (1401 was aGcrued at 31
December 2023 but wa5 not due until 01 August 2024.
Additionally. £34,777 was duplicated in the 2023 year end accounts. This is in relation to the first
instalm8nl of th8 Bridge High schoo5- dormitory project133E6). An invoice was created for this
project expenditure on Ihe 21 December 2023 bul an addib'onal accrual journal was also included
so the expense was double counted.
29