Docu¥ign Envelope ID.. D062F631-EF8466B-BD9C-3E3222g182g RegiSted numir. 08415662 THE SCREWFIX FOUNDATION (A company Ilmlted by guarantee) Charlty number 1151375 AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 •AEAFS9QB 0510912025 COMPANIES HOUSE A21
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DO$19n Envehjpe ID.. D062F631-EF8946BB-8D9C-3E3222918A29 ThE SCREWFIX FOUNDATION INDEX TO THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Company Information Trustee's Report Independent Auditor's Report 9-12 Statement of Flnancial Activlties 13 Balance Sheet 14 Statement of Cash Flows 15 Notes to the Flnancial Statements 16-19
Docusign Envelo 10.. 0o62F631-EF894688-BD-3È32229l8A2g THE SCREWFIX FOUNDATION COMPANY INFORMATION Trustees J Mewett E Bell N Boyd K Comber K Jackson (resigned 24th January 20251 P Barr L Taylor C Welsh IresiBned 13th June 2024) A Barnes (appointed I" April 20251 Treasurer L Taylor Re8lstered Office Trade House Mead Avenue Hound5tone Business Park Yeovil Sornerset BA22 8RT Registered Charity No. 1151375 Company Number 08415662 Audltor ML Audlt LLP Motivo House Alvin8ton Yeovil BA20 2FG Bankers Hsec Bank PIC Re8ional Service Centre PO Box 125 2 Floor 62-76 Park Street London SEI 9DZ
Docusign Envelope ID.. DC62F631-EF894688-8D9C-3E3222918A29 THE SCREWFIX FOUNDATION TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 The Trustees present their annual report together with the audited financlal statements of the Charity for the vear ended 31 January 2025 which are also prepared to meet the requirements for a Directors, Report and accounts for Companles Act purposes. The financial statements comply with the Charitie5 Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Ch3ritie5'. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP {FRS 10211. RELATIONSHIP WITH SCREWFIX DIREcf LIMITE The Board of Screwfix Direct Limited I'screwfix I have agreed to match pound-for-pound I"Pound Match'l all fundraising artivities of Screwfix staff on behalf of The Screwfix Foundation I'the Foundation"). Durin8 this financial period the total donation from Screwfix was E203.06412024.' £222,109). As well as makin8 monetary donations, S¢rewfix donate5 employees, time. The value of this time is not prartical to value and so has not been Included as either income or an expense. Screwfix ha5 chosen the Foundation as its charlty partner. Screwfix ralses funds through the sale of certain products from which it has agreed to donate certain proceeds to the Foundation and other fundraisin8 activities from Screwfix's employee5 and member5 of the public. Iv AN IVITI The Foundation's aims are to help those in need across the UK by reason of financial hardshlp, sickness. disability or other di5advanta8e or distress in particular (but without limitation) by helping repair, maintain, improve or construct homes. community facilities and other buildings for the benefit of such persons. The activities of the Charlty w511 directly and indirectly benefit the public and the community throu8h the improvement of homes and community facillties creating enhanced envlronments. We review our aims, objectives and activities each year. This review looks at what we achieved and the outcome5 of our work in the prevlous twelve months. The review looks at the success of each key artivity and the benefits they have brought to those 8roups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remain focused on our stated purposes. In the consideration of projects to support, and planning of activities to ralse funds, the Trustees have given careful consideration to the Charlty Commission's 8uidance on public benefit. Includin8 the 8uidènce'Public Benefit.. Running a Charity IPB2}'. The Trustees invite various charities which operate in the community where Screwfix is located to apply for funding in support of their own prolects. All requests for grants are formally vetted and rated against a strirt scorin8 criteria to ensure all supportin8 projects meet the Foundation's aims and objettives.
Docuslgn Envelope ID". D062F631-EF89468B-BD9C-3E3222918A29 THE SCREWFIX FOUNDATION TRUSTEE'S ANNUAL REPORT Icontlnuedl FOR THE YEAR ENDED 31 JANUARY 2025 FUNDRAISING The Foundation has two main methods of fundraising. these belng ongoing fundraising and one-off events. The ongoing methods I'Pennies' and the Screwfix's payday lottery) occur year-round. with one off or seasonal events taking place in limited timeframes. The Foundation usually runs two raffles a year for the general public, and a monthly payroll lottery for the employees of Screwfix Direct Limited. The Foundation 15 licenced by the Gamblin8 Commission to perform these activities and is assisted by an external lottery provider with the monthly payday lotteries. The Foundation did not receive any complaints about fundraisin8 during the year. The Foundation ensures that fundraisin8 efforts are not unreasonably intrusive to the public by limiting the methods by which these funds are raised. Fundraising generally does not occur outside of Screwfix premises {includin8 the digital shopfront) with larger scale sponsored events takln8 place only during Foundation Week or other predetermined land limited) timeframes. With the exceptlon of donations from Screwflx Dlrect Llmited lincludln8 but not limited to the Pound Match donations) the Foundation's fundraising focuses on achieving a high volume of smaller donations. Even parts of the Foundation's income that is received as single large donations or grants are derived from tranches of numerous small donations, like the 'Pennies' income. ACHIEVEMENTS AND PERFORMAN During the period ended 31 January 2025 we have supported 42012024.. 4051 local charltles and not for profit or8anisations across the UK, grantin8 a total of £1,899,981 (2024.. £1,715,599). Local donations were made to charities In the followin8 areas of the UK. Average grant.Imeanl made to local charities was £4,52412024.. £4,236). 2025 Value of donations 2024 Donation made Donation made Value of donations England Scotland Wales N. Ireland 85.3 85.2 85.7 84.8
Docusign Envelope ID.. D[2F83l-EF8&468B-8D9c-3E32229IBA29 THE SCREWFIX FOUNDATION TRUSTEE'S ANNUAL REPORT (Contlnuedl FOR THE YEAR ENDED 31 JANUARY 2025 TRATEGIC REPORT FINANCIAL REVIEW Funds are raised through a variety of means from Screwfix trade counters fundraising activities, head office departmental activities, individual staff fundraising and customers donatin8 their 'Pennie5' on web orders. The profit from sales of power banks was all donated to the Foundation. The 'payday lottery" in which Screwfix staff participate In a work lottery gives 50% of proceeds to the Foundation and the other 50% goes to the prize pot after fees have been deducted. A one off donation was also made in the year for the profit from the sales of Screwfix Christmas Clothing. In addition to the above, the board of Screwfix have continued to support the pound match of all fundraisin8 activities of Screwfix staff on behalf of the Foundation. TheTrustees are pleased to announce the Foundation raised funds of £1,731,063. Two successful raffles have raised a total of £520,77412024'. £580,996). The amount raised vla Pennles has decreased. Customers donated £618,83412024: £644,185) in this wav. Total Pennies income after fees was £587.89212024.. £612,004). As a result, the Trustees were able to grant donation5 of £1,899,98112024'. £1,896,599) to various projects in support of the Foundation's objectives. Amounts raised vla all methods Is expected to remain stable. All planned fundralslng events are expected to take place in the next financlal year. Direct expenditure incurred In collectSn8 the funds ralsed was £ 18,71112024.. £12,835), being administration fees charged by Just Giving and other outside parties. The Trustees are holdin8 a reseNe of £5,000 to ensure any one off or unforeseen costs can be settled, The Foundation has made a net deficit for the year of £198,947 {2024.' surplus of £262,671). TRucfuR OVERNANCE AND MANAGEMENT The Screwfix Foundation is a company limited by guarantee (registered company number 084156621 and re8lStered as a charity {number 11513751. The Charity is governed by its Memorandum and Articles of Association. In the event ofthe company being wound up. members are requlred to contribute an amount not exceedin8 £10. The Board of Trustees meet at least four tlmes a year and have responsibility for finance, donation5 granted and the future strate8y of the Foundation. Day to day management of the charlty is delegated to the Foundation Manager, who is instructed by the Board of Trustees. The Foundation Manager is responsible for implementin8 the strate8ic plan and managing the operations of the charity in accordance with the policies and budget approved by the Trustees. All expenditure is approved by the Board. The directors of the company are also charity Trustees for the purposes of charity law and under the company's Articles are known as members, The body ofTrustee5 may appoint further people to be Trustees durin8 the year as they see fit. All Trustees give their time voluntarily and receive no monetary benefits from the Charity. All Trustees are given relevant training.
Docusign Envelope ID.. 0062F631EFB946B&BD9C-3E3222918A29 THE 5CREWFIX FOUNDATION TRUSTEE'S ANNUAL REPORT {Contlnued) FOR THE YEAR ENDED 31 JANUARY 2025 RISK MANAGEMENT It is the opinion of the Trustees that the Charity's policies, procedures and controls are adequate to mitigate financial and reputation loss through error or fraud and to maintain the viability of the Charity. RESERVES POLICY The Trustees have examined the Charity's requirements for resee5 in li8ht of the main risks to the or8anlsation. They have establlshed a policy whereby the unrestricted funds of the Charity should be at least £S,000 to ensure any one off or unforeseen costs can be settled. During the year the Foundation has not received any restricted income. Total reserves balance at 31 January 2025 amounted to £618,289 of which £58,310 are designated funds to support projects through Volunteer It Yourself IVIYI {2024.. £817,236 of whlch £IOO,000 was desienated funds for VIYI. The designated funds are expected to be spent in the next financial year. RE The Charity plans to continue the activities outlined above in the forthcomin8 years subject to satisfactory funding arrangements and the Trustees will continue to promote the Charity so that donations in the future can be secured. GOING CONCERN The Trustees have reviewed flnancial information for the next twelve months. Followlng thi5 review, the Trustees consider there to be little impact on the Charlty's ability to act as a goin8 concern. AUDITOR Insofar as the Trustees are aware.. There is no relevant audit information of which the Charity's auditor is unaware; and The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit Information and to establlsh that the auditor is aware of that information. REN MINI TRATION The Trustees, who served throughout the year and subsequently. except a5 noted, were as follows., J Mewett E Bell K Comber K Jackson Ireslgned 24 January 20251 P Barr L Taylor N Boyd C Walsh Ire5i8ned 13, June 20241
DO19n Envelope ID.. D062F631-EF8946BB-BD9C-3E3222918A29 THE SCREWFIX FOUNDATION TRUSTEE'S ANNUAL REPORT (Continued} FOR THE YEAR ENDED 31 JANUARY 2025 TEES. RESPONSIBI Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure. for the financial year. In preparing those financial statements, the Trustees should follow best practice and: Select suitable accounting policies and apply them ¢onsistentlv,' Observe the methods and principles In the Charities SORP; Make judgements and estimates that are reasonable and prudent: State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- Prepare the financial statements on the going concern basis unle55 it is not appropriate to assume that the company will continue on that basis. The Trustees are responsible for keepin8 proper accounting record5 which disclose, wlth reasonable accuracv, at any time. the financial position of the Charity and enable them to ensure that the financial statements comply with both the Companie5 Act 2006 and the Charities Act 2011. 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 irre8ularities. The Trustee5 are responslble for the malntenance and Integrlty of the corporate and flnancial information included on the Charity's website. Le8Sslation in the Unlted Kin8dom 8overning the preparation and dlssemination of financial statements may differ from legislation in other jurisdictions. This re ortwasa th roved b the Trustees on th 30 June 2025 and si ned on its behalf b 1¢¢07F1j4K.. J Mewett Trustee
DowsKJn Envelope ID.. D062F631-EF8946BB-BD9C-3E3222918A29 THE SCREWFIX FOUNDATION TO THE TRUSTEES OF THE SCREWFIX FOUNDATION INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS OPINION We have audited the financial ststements of The Screwfix Foundation forthe year ended 31 January 2025, which comprise the Statement of Financial Activities incorporating Income and Expenditure Account. Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accountin8 policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Prarticel. In our opinion the flnanclal statements: Give a true and fair view of the state of the Charity's affairs as at 31 January 2025 and of its incoming resources and application of resources for the year. and then ended. Have been properly prepared in accordance with United Kin8dom Generally Accepted Accountin8 Practice,. and Flave been prepared in accordance with the requirements of the Charities Act 2011. BASIS FOR OPINION We conducted our audSt in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilitie5 for the audit of the financial statement5 section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requlrements. We believe that the audit evidence we have obtained Is sufficient and appropriate tp provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatln8 to events or conditlons that. individually or collectively, may cast Sl8nificant doubt on the CharitW5 ability to continue a5 80in8 concern for a period of at least 12 months from when the financial Statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Docusign Envelope ID.. Di2F63]-EFB&6D9c-3E3222918A2g THE SCREWFIX FOUNDATION TO THE TRUSTEES OF THE SCREWFIX FOUNDATION INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS Icontlnued) THER INFORMATION The other information comprises the information included in the annual report, othef than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, In doln8 so, conslder whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify 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 there is a material misstatement of this other information. we are required to report that fact. We have nothingto report in this re8ard. S ON WHICH WE ARE RE UIRED TO REPO T BY EXCEP ION WÈ have nothing to report in respect of the following matters where the Charities (Accounts and Report51 Regulations 2008 requires us to report to you if, In our oplnion,, The information given in the Trustees, report is inconsistent in èny material respect with the financial statements; sufficient accountin8 records have not been kept,. The financial statements are not in agreement with the accounting records ènd returns: or We have not received all the information and explanations we require for our audit. sp 181LITIES OF TRUSTEES As explained more fully in the Statement of Trustees, Responslbllitles set out on page 8, the Trustees are responsible for the preparation of the financial statements and for bein8 satisfied that they 8ive a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a 80in8 concern, disclosin8, as applicable, matters related to 80in8 concern and usin8 the goin8 concern basis of accounting unless the Trustees either Intend to Ilquidate the Charity or to cease operations, or have no realistic alternative but to do $0. io
Do$•gn Envelope IO.. D062F631-EFB946BB-B09C-3E3222918A29 THE SCREWFIX FOUNDATION TO THE TRUSTEES OF THE SCREWFIX FOUNDATION INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS Icontlnued) AU ITOR'S RESPONSIBILITIES FOR THE A IT FINANCIAL STATEMENTS We have been appointed as auditor under the Chorities Act 2011. s.144 and report in accordance with regulations made under the Act and relevant regulations made or having effect thereunder. Our objertives are to obtain reasonable assurance about whether the financial statements as a whole are free from matef ial misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but Ss not a 8uar3ntee that an audit conducted in accordance with ISAS IUKI will always detert a material misstatement when it exists. Mi55t3tements can arise from fraud or error and are considered material if. individually or in the a8gregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, includin8 fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of Irregularities. including fraud, In identifying and asse55in8 risks of material misstatement in respect of irregularities, including fraud, the audit engagement team.. Obtained an understandin8 of the nature of the industry and sector, includin8 the legal and regulatory framework that the Charity operates in and how the Charity is complyin8 Wlth the legal and re8ulatory framework. Inquired of mana8ement, ènd those charged with governance, about their own identification and assessment of the risks or irregularities. including known and actual, suspected or alleged instances of fraud,. Discussed matters about non-compliance with laws and regulations and how fraud might occur includin8 assessment of how and where the financial statements may be susceptible to fraud,. Performed audit procedures on grant expenditure to verify that payments were made to leeitimate and duly constituted charitable and not-for-profit organisations. However. it is the primary responsibility of management. with the oversi8ht of those char8ed wlth 8overnance, to ensure that the entitws operations are conducted in accordance with the provisions of laws and reBulation5 and for the prevention and detection of fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http'.I/Mvw.frc.or8.uk/auditorsresponsibilities. This descrlption forms part of our auditor's report. li
Docusign Envelope ID.. D062F631-EF868&BDgc-3E322291&A29 THE SCREWFIX FOUNDATION TO THE TRUSTEES OF THE SCREWFIX FOUNDATION INDEPENDENT AUOITOR'S REPORT ON THE FINANCIAL STATEMENTS Icontlnuedl EOFO RREP RT Thls report is made solely to the Charity'5 Trvstees. as a body, in accordance with Part 4 of the Charitie5 IAccounts and Reports) Regulations"2008. Our audit work has been undertaken 50 thai we might state to the Ch"arity's Trustees those matters we are required to state to them In an audltorfs report and for no other purpose. To the fullest extent permitted by law. we do not accep't or assume responslbility to anyone other than the Charity and its Trustees ès a body, for our audit work. for this report, or for the opSnion5 we have formed. Robert Cadwallader (Senior Statutory Auditor) For and on behalf of ML Audit LLP, Statutory Auditor Motivo House Alvin8ton Yeovil Somerset 8A20 2FG ML Audit LLP is eligible fo'r appointment as auditor of the Charity by virtue of its eligibility for appointment as audltor of a company under section 1212 of the Cornpanie5 Act"2006 l-S&P- IS 12
Docusign Énvelope ID.. D062F631-EFB9468&809C.3E3222918A29 THE SCREWFIX FOUNDATION STATEMENT OF FINANCIALACTIVITIES Ilncorporatlng and Income and Expendlture Accounts) FOR THE YEAR ENDED 31 JANUARY 2025 2025 2025 Notes Unrestrlrted Total Fund 2024 2024 Unrestrlrted Total Fund INCOME Donations & legacies TAL INCOM 1,731.063 1.731,063 2,179.773 2,179,773 1,731,063 1.731,063 2,179,773 2,179,773 EXPENDITURE Costs of raising funds 18,711 18,711 12,835 12.835 Expenditure on charitable activities TOTAL EXPENDITURE 1,911,299 1,911,299 1,904,267 1,904,267 1,930,010 1.930,010 1,917.102 1,917,102 1198,947) 1198.9471 262,671 262,671 EXPENOIT NET IN AND NET MOVEMENT IN FUNDS FOR E YEAR RE RE IATI F FUNDS TOTAL FUNDS BROUGHT FORWARD 817,236 817,236 554,565 554.565 TA CARRIED FORWARD ND 618,289 618,289 817,236 817,236 There were no recognised gains and losses other than those included in the statement of financial activities. All incoming resources and resources expended derive from continuing activities. The notes on pages 16 to 19 form part of these financial statements. 13
Docusign Envelope ID.. DC132F631-EF8B8-Bo9c-3E3222918A2g THE SCREWFIX FOUNDATION CHARITABLE COMPANY 08415662 BAiANCE SHEET FOR THE YEAR ENDED 31 JANIJARY 2025 Notes 2025 2024 CURRENT ASSETS Debtors 444,135 487,586 209,348 344,076 653,483 831,662 135,1941 114,426) Cash at Bank and in Hand Creditors- amounts falling due within one year NET ASSE 618,289 817,236 TAL FUNDS Unrestritted funds Designated funds 559.979 58,310 618,289 717,236 loo,000 817,236 13 The notes on pages 16 to 19 form part of these financial statements For the flnanclal year endin8 31 January 2025 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relatin8 to small companies. The members have not required the company to obtaln an audlt In accordance wlth section 476 of the Companies Act 2006. The directors acknowled8e their responsibility for complying with the requirements of the Art with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. These accounts were approved bv Doc¥Sign•4 by". J Mewett Trustee Date Sep 1. 2025 Pocu8ffjfv•oby. L Taylor Treasurer Date Sep 1, 2025 14
Oocusign Envelope10.' L)o62F631-EF868&B08C.3E32229I8A29 THE SCREWFIX FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025 Totsl Funds Total Funds 2025 2024 Note Net cash used In operating artivitles 12 1134.728) 1103,7041 Chan8e in cash and cash equivalents in the year {134,7281 {103.7041 Cash and cash equlvalent brou8ht forward Cash and cash equivalents carried forward 344,076 209,348 447,780 344,076 15
Docusign Er)veloFe ID.. 2F63l-EFBg468B-809C-3E32229lBA29 THE SCREWFIX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 I LEGAL FORM The Charity Ire8lStration number 084156621 is a private company, Ilmited by guarantee, incorporated in England and Wales (charity number 11513751 and consequently does not have share capital. The address of its re8lStered office Is Trade House, Mead Avenue. Yeovil. Somerset. BA22 8RT. 2 ACCOUNTING POLIC Basis of Pre ara The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). the Accountin8 and ReportSng by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211. and the Companies Act 2006. Assets and Liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy notes. The Charity meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared in sterlin8, which Is the functional currency of the Charity and rounded to the nearest £. Fund Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. The Trustees consider that there are no material uncertaintle5 about the Charlty's ability to continue as a 80in8 concern nor any significant areas of uncertainty that affect the carrying value of the a55ets held by the Charity. The Trustees have reviewed financial information for the next twelve months. Followin8 this review, the Trustees consider there to be Ilttle impact on the Charivs ability to act as a goin8 concern. Income All income is included in the statement of financial activities when the Charity is entitled to it, ènd there is sufficient certainty that receipt of the income is considered probable. and the income and the amount can be quantified with reasonable accuracy. Incoming donations are generally accounted for in the period in which they are received. Donated 5ervice5 and facilities are included at the value to the Charity where this can be quantified. The value of the services provided by volunteers has not been included in these financial statements. Donations due from Screwfix and the 'Pennies' Organisation are recognised in the period the donation is received by the recipient organisation who collect donations on behalf of the Foundation. as lone as the amount to be recelved can be quantified with reasonable accuracy. 16
Docusign Envelope ID.. D062F631-EFB946BB-B09C-3E3222918A29 THE SCREWFIX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JANUARY 2025 Resources Ex ended Expenditure is recognised on an accrua15 basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered and 15 reported as part of the expenditure to which it relates: Charitable expenditure comprises those costs Incurred by the Charity in delivery of its activities and services for its beneficiaries. It includes both cost5 that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include audit fees and costs linked to the strategic management of the Charity. These costs have been included in expenditure on charitable activities. Costs of raisin8 funds comprise the costs associated with attracting voluntary income for the Charity. Finan nt The Charlty only holds basic financial instruments as defined in FRS 102. The financial a55ets and financlal liabilities of the Charity and their measurement basis are as follows,. Financlal assets- trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instrument5. Cash at bank- is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments. and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another flnancial instrument. 3 IN ME NATION 2015 2024 Pennie5 Raffle Donations from Kingfisher PLC Screwfix Pound match Store fundraising Payday lottery Just Givin8 Other Screwfix Live Gala Head Office Fundraising Managers Conference Christmas Jumpers 587,892 520.774 93.241 203,064 155,939 33,318 25,471 14,336 612,004 580,996 88,117 222,109 164,506 38,657 47.273 641 303.087 11,516 9.504 13.601 9,203 li 74.224 1,731,063 101,363 2,179,773 05T OF RAISING F NDS 2025 2024 Gambllng Commission Payday lottery fees Other direct costs 1.927 12,681 4,103 18,711 1,877 10,752 206 12,835 17
Docusign Envelope ID.. OC62F631-EFB&46B&B09C-3E3222918A29 THE SCREWFIX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31 JANUARY 2025 EXPENDITURE ON CHARITABLE AcfiviTIE 2025 2024 Donations - local Donations - national Governance costs 1,858,291 41,690 11,318 1,911,299 1,71S,599 180,000 8,668 1,904,267 GOVERNANCE COSTS 2025 2024 Audit fee 11,318 11,318 8,668 8,668 DEBTOR '. AMOUN E WITHIN ONE YEAR 2025 2024 Amounts owed from Screwfix Accrued donations 337,360 106,775 444,135 392,271 95,315 487,586 REDIT '.AM NT FALLIN DUE 1025 2024 Committed donation grants Accruals 25,594 9,600 35,194 6.926 7,500 14.426 RÉLATED PARTI TRAN IONS No remuneration has been made to or on behalf of the Trustees12024'. £nill, neither are they reimbursed expenses during the year12024'. £nill. No Trustee or other person related to the Charity had any personal interest in any contract or transaction entered into by the Charity durin8 the year12024.. £nill. A number of Trustees are a150 Directors of Screwfix Direct Limited. Details of the relationship and transactions with Screwfix can be found on pages 4 and 5 of the Trustees report. At the year end donations of £337,36012024.. £392.2711 were due from Screwfix Direct Limited. A donation was received during the year of £93,241 from Klngfisher PLC, the ultimate holdin8 company of Screwfix Direct Limited. The overhead cost of the Foundation Manager is funded by Screwfix Direct Limited. io HARE CAPTIAL The Company is limited by guarantee and does not have share capital. The liability of the 8uarantors. who are the Tru5tee5. is limited to £10 per 8uarantor. 18
Docuslgn Envelo ID.. D062F631-EFB946BB-BD9C-3E3222918A29 THE SCREWFIX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JANUARY 2025 11 TAXATION As a charity, The Screwfix Foundation is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or $256 of the taxation of Char8eable Gains Act 1992, to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. NET EXPENDITURE FOR THE REPORTING PERIOD 12 STATEMENT OF FINANCIAL A1VITIEs AS PER 2025 2024 Net movement in funds Decreasellincreasel in debtors IDecreasel/increase in creditors Net cash used in operating activities 1198,9471 43,451 20,768 1134,7281 262,671 1304,8271 161,5481 {103,7041 13 FUNDS Balance at 31 January 2025 Balance at I February 2024 Incomlng resources Resources expended Transfers Unrestricted funds Desi8nated funds Total funds 717,236 1,731,063 11,888,320) 559,979 loo,000 817,236 141,6901 11,930,010) 58,310 618,289 1,731,063 Balance at 31 January 2024 Balance at I February 2023 Incomln8 resources Resources expended Transfers Unrestricted funds Designated funds Total funds 554,565 2,179,773 11,917,102) {ioo.0001 717.236 loo,000 100,000 817,236 554,565 2,179,773 11,917,102) Funds have been designated to support Volunteer It Yourself IVIYI, a charity supporting young people gain trade skills whilst volunteering to renovate community and charity spaces. 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 2024 Current assets- unrestricted funds Current assets- designated funds Current liabilities- unrestricted funds 59S,173 58,310 135,1941 618,289 731,662 ioo,ooo 114.4261 817,236 19