Careys Foundation C.l.O REGtsrERED CHARtTYNUMBER: 1159819 Report of the Thisteu alld FiDandal Statements for tbe Year Ended 31 March 2024 for Carrys Foundation C.LO Barnes Roffe LLP 3 Brook Business Ctlltre Cowley Mill Road Lxbridge Middlesex UB8 2FX Cargys Foundatlon C.l.O Contents of the FiDall¢ial Statemellts for the Year Ended 31 March 2024 Pi8e >8 Report of the Trustees Report of the Kndependenl A¢¢ouDtants Statement of Flnancial Adlvhl¢s Balance Sheet Notes to tbe Financial StstemeDts io li 12-14 Carey5 Foundation C.l.O Report of the Trn5tees for the Year Ended 31 March 2024 The trustees of Careys Foundation C.I.O. present their annual Tewrt and unaudited fillanci81 statcmcnts for thc yeor ¢nded 31 March 2024. Objectiv&s and activitles The objects of thc charity ar¢ for the publi¢ bencfiL set out in thc charitys tntst dced and are summarised as follows: To support and make a wsitive diffcrence withill the communities that Cateys woths in and which its 5taft. along with others reside. through volunteering and charitable ende&Yours to the benefit of the public witbin its community. The advancemetLt of educaiion irk such ways &s the InL£t￿, may from tllue to time decide; and The protection aud preservation of the enviroument including (but not limited to) advall¢ing du¢ation of the publi¢ aly)ut all a4￿tS of w8sle genetatio￿ iyaste management alld waste rttycling. The pU￿oSe of Careys Foundation is lo supwrt and n)ake a positive impact on the lives of all Carey Group p￿pIe, the clwities we partner with and the communities we work in through voluntwing. In the r¢Kx)rting period 2023r24 we: Supwrted 58 chaTities. Gave 632 volunteeritEg hours. Clwipiolled numerous commuDity events. Our Purpose highlights tbtte key focus areas for Careys Foundation - people. ciwities and volullteeiing. People Carey Group cmployees pla> a vithl role in the positive WO￿ of the Foundation in giving back to the communtties they work and live in by supporting local community initiatives. In return, we end¢avour to support thenTr iti their various times of need. We want everyorte to be awaTe that in ¢h¢ir tin￿ of neal Careys Fouodation is her¢ to support thcTn. Not only do we want to cncourage people to cngage with thc Foundation. volunteering and futMtrai5ing projects, bui vle also have a clw. accessible structure wl)ich ¢xplains how we us¢ our funds io make a positive dilf¢￿¢ ￿ our people iu their time of need The introduction of 'The People's Poc., these are fijnds fdised by Careys peoplc and matched by the Foundation that are sel aside to support Carey Group employees. with a help&ng ])and dwing times of need. The wt was called ofj in 2024 for various th8ritable requests. whether . Carey5 Foundatlon C.l.O Report of ¢be Trustee5 for the Year Ended 31 March 2024 it be directly suppoItiDg stsff in their time of need or a community illitsative in all area Carey Group was workitig. Volvnteerillg Offering our time and resources to help improve the lives of others is in our Company DNA anda fimdamcntal partof living our values. We PTovid¢ volunteering opwJrtuniti¢s and support for all of our peoplc to apply their skills outside of the workplac¢. Through our volunteering scheme. everyone is cntitled to one paid day of leave each that th¢y can use to volunteer for a charity of their choice. Througk our volunteeffing activities. we have seen fwst-hand that small ge8w￿s of Sup[￿r( provided enthusiasts￿IlY by thousaDds of people. can PTovide incredible benefits for wortby causes. Partnering with Church Farn]. Stevenage h&$ given our teams various optM)rtunities to get involved and supp)rt a local ¢oMnLulli￿ project on a long-term basis. From creating new outdwr learning ¢xp¢riences for childM and young p￿PIC to building safe and secur¢ animal shelteT5 it l)as bondsj teams 8nd made a di(ferewe to a local WOTthy caws¢. Charities We actively ¢ncourdg¢ and support all our pthple to fundraise for charitable causes - they reflect our values with their amazillg actions and are keen lo get involved. T)yical activities includ¢ ¢ballenges such as mouDtam climbs and extreme raccs in order to raise awaren¢sg and fimds foi ¢harity. During 2023124 the Lighthouse ConsIn￿liOn I[MI￿$try Clwity (the Ligbthouse Club) is Car¢ys Foundation's kcy ¢harity partner. As our kcy charity partner Careys Foundation arc committcd to raisin8 awareness and fimds for the Li8bthouse Club. siipp)rting numemus events at initiatives. To date. thi5 h&% ]￿lude{L. Lighthouse Club branded vehides - We launched our partnership with a brando En￿k pronioting the Ligbthouse Club alld their SUPPOrt helpline- 0345 605 1956 (ROI 1800 939 122). To further ra1￿ awareness and fi]nds, we have branded hvo additional Carey5 Plant & Fleet 5UPPOrt vehiclcs. Th¢s¢ are higbly visibl¢ on UK roads spreadin8 the message and promoting the E￿ithOU$¢ Club. the great work they do and tt services and 5UPPOrt they offer to the people ID our industy. PromotiDg the 4#MaktltVisible OD-Site' initiatsve with a tour across our project sites - A c&mpaign to Taise awareness of p￿r melltsl health ￿1th1n our industry. In the UK two ¢onstruction wot*ers take their 0￿1 lives every wotkmg day attd stress, anxiety and depr¢&8ion account for a fifth of all w0￿-[clatCd illne￿e5. A huge focus of th¢ Careys FoundatJon C.l.O Report of the Trnstees for the Year Ended 31 Mareb 2024 arnpaiBn and tour was awaren￿ of the pro-active support aNI re￿￿¢¢5 for our constrnclion community including the 24n Constmctioll Industy Helpline. fr¢e app and mental health trdin1￿.. In 2023124 the charity has s¢¢n a 580/0 increase in tour delivcry from 2022Q3. The Lighthouse Club deliNered 63 tours with 482 sites visit 23,992 conversations had and 78 active r£s￿e$ ¢aThied out. The Careys FoundaliolltLlghthouse Club Golf Fundraiser- a highly successful day which ￿aS w¢ll sUPPOrt¢d by Careys. BDL and various suppliers alld ¢li¢nts. The day was attelld￿ by 100 guests and rais￿ over £30.0(M). Ill addition to our key clwity pariller. each Carey Group region is given the opportimity to support a smaller. local clwity within t￿tr community. The 2023124 Chosen regional charities Ashford Place Action 4 Youth Glas8ow No. l Baby and Family SuppKJrt Services FundraisiDg Activities- Car¢y eJw)loyeesaregiven Oppo[ti￿1tteS to engage in vsrious fUndr￿sIng opportunities for CaTCy5 Foundation and the regional charities. These can range from skydiving. hikes. cycle challenges and fi￿draISIng colledions. As well as partiCApatitig in events co-ordiJJated by the Foundation. stsff are encourdged to participate tn fundraising events footsitig on the regional chosen charities. Financial reTrrye The Lryst's woAo is reliant on income from a rang¢ of activities ¢arried out and supp)rt from related companies in Carey Group Plc. The foundation generdted income of £39YI,338 for the year ended 31 March 2024 (2023.. £351,627). The balance of funds held al 31 Mareb 2024 is £272.904 (2023: £246,846). Careys Foundatlon C.LO Report of the Trustees For the Year Euded 31 March 2024 S¢rneture* governallce Jnanagement Governing d(rtumeut Car¢ys Found&tion C.l.O. is ¢onstituted asa charitable tn￿1 and was registered with the Charity. Comrnission on 6 January 2015 und¢r cl]arity nullLber 1159819. It is govern￿ by a deed OC tmst last updated on 6 January 2015. OrgAnlsatloDal strnrture The clwity trustees are responsible for the general control aTrJ mw¢ment of the charity. The trustees, remunerdtion and other fllwi¢ial benefits is Px)rne by related compaDi¢S. The trustees meet as a board quarterly and are res￿￿•￿Ie for all decisions tsku) in relation to n￿￿l￿g th¢ C1￿1"ty, arrange fund raisin& appoint and train wy new trustees and agrce on donations. Administrdtive sUPPOrt is provided by staff of related Companies. and th¢ir Costs a EKJrne by those Companies. Careys Foutyjation C.l.O is & c1￿ltable0r8allis&tioll whose n￿￿ti Sou￿¢ ofincome is donations ond is not subject to Corp)rdtion T&x. The ttuste&8 collfm that they have reviewed any major risks to the InL4t and established any Systems OT prwedures to maDagc these risks. Careys Foundation C.l.O Report of the Trustees For the Year Ellded 31 M*r¢h 2024 Rderejjce and xdmiuistrative detalls Chariry Name Carey8 Foundation C.I.O Registered Charity number 1159819 Princip*l & Re2istered Office Carey Hous¢ Great Central Way Wembl¢y Middlesex HA9 OHR Board of Trustees D Coller- Appointal Jan 2024 K Doran- Appointd Jatt 2024 S Gre¢nwood- Appointed Jan 2024 B Jackson J Kcatll¢y- AppoiTrt¢d Jan 2024 M McGuiT¢ F O'Donnell - Resigned Nov 2023 T Wraighi- ApEKJifLted Jan 2024 K Hunfrr Rderellce and *dmillistritlv¢ de¢ails BAnkers Allied Irish Bank {GB) 202 Finchlcy Road London NW3 6BX llldependent Eumiller Bames Roffe LLP 3 Brook Busines5 Centtr Cowley Mill Road Uxbridge, Middlesex UB8 2FX Solicitors Ashfords LLP Tower Wharf Bristol BS2 OJJ Careys FoUnd￿0Th C.l.O Report of the Trustees For the Year Ended 31 March 2024 Ststemtnt of trustees, respDDsibllili¢5 The tn￿leeS are responsible for PTewiDg the Rewrt of the Tntstees and the financi81 ststements in accord8nce Thith applicablc law and Unit¢d Kingdom A¢counting Standards (United Kin8dom Gcn¢rally Accepted Accounting Practice). The law applicable to ¢lwitic5 iti EngLaDd & wal￿ rrquiTes the trustets to prepare [￿nCial ststemenls for each financial year which give 8 8nd fair view of the statc of affairs of the chaTiryand of the incoming re￿￿TC Regulations 2008 and the provisions of the InL8t deed They are also responsible for safeguarding thc assets of the ciwAty and hence for laking reasonabl¢ steps for the prevention and detection of fraud 8nd other itregularities. Tr11125. Approvcd by ordcr of the board of thlstces on .... . and signed on its bchalf by: Hunter- Tn￿tre Careys Foundatlon C.l.O Independent ExamiDer's Report to the TrusteeJ of Careys Foundation C.l.O I reKY)rt to the charity trustees on My examination of the accounL8 of the charity foT the y en4led 31 March 2024 which aT¢ Sct out on pages 10 to 14. Responsibilities and basis of report As the charity's trustees you are restKJnsible for the pryaration of the k¢eouDts ID accordall¢¢ with the requirements of the Cbaritias Act 2011 Cthe Ac¢). I repott in re&￿t of my eXaMi￿tiOn of th¢ charitys accounts carried out under $¢¢tion 145 of the Aci and in carrying out my examtDation I have followed all Ihe ￿pliCable Dire£tions given by the Charity Comn)ission Unders￿￿On 145(5)(b) of th¢ Act Independent examiner's statement I have Complet￿ myeXaminatio￿ I ¢ollfirni that no matcrial matters have come to my attention in connection with the eLWn1￿￿0n giving me cause to b¢lieve that in any malerial respect: accounting [￿ordS were notkept in respect of the clwity as requirvj by s￿tioll 130 of th¢ 2. the &¢ouots do not accord with those records. or 3. tlle accounts do not comply with the applicable rquiretnents concerning th¢ fonn and ontent of accounts ser out in the Charities {A¢counts and Reports) Regulations 2008 other thau any rquirelnent that the accoutlts give a 'tme and fair view, which is not a matter considered as part of an indewident exaiuinatiorL I have no ¢oL¢¢rns and have come across no other n12tters in connection with the cxa[ni]￿tioll to which attention should be thawn in this rqx)rt in order to enable a proper und¢rstallding of the accounts to be rc8ch¢d. Bames Roffc LLP lllSiitul¢ of Cbartered Accountants in England and Wales 3 Brook BusiJie&s Centre Cowley Mill Road Uxbridg¢ Middl¢s¢x UBS 2FX Careys Foundati¢)n C.l.O Statemellt of Financi21 Aclivities for the Ye8r Ellded 31 M¥rcb 2024 2023 Ullrestricted Uurestricted Funds funds Intome aud endowments from Donations and legacies 3W,338 351.627 Total 390J38 351,627 Expenditure Other (364.280) (303.397) Net ix¢ome 2A058 48,230 Reconelliatlon of funds Total fjjnds bD)ught lorward 246,846 198,616 Total funds ¢Arried forward 272904 246,846 Continuing operations Tbere is no restriction on fim(ig. The notes forni part of the rmanc1￿ 5tatebll￿ts io Caroys Foundation C.l.O BalaD£e sheet A¢ 31 March 2024 2024 2023 Unrestricted Unrestricted FllDd5 funds Notes Current assels Debtors Cash at ballk 51.968 297.581 349549 11,989 277,378 289.367 Creditor$ Amounts falling due within one y Net current assets (76.645) 272,904 (42.521) 246,846 Total assets less eurrent liabilities 272.904 246,846 Net *8sets 272,904 246.846 Funds Unrestrtct￿l fimd5 Total fundy 272,904 272.904 246.846 246.8A6 Tht notes fom part of the financial statements Il/1 I The financial statcmcnts wcrc apFroved by thc Board of Trustees on .......... on its belthlfby: Hullt¢r- TTUSte¢s li Careys Foundation C.l.O Notes to the financial Statements For the year eDded 31 ,March 2024 l. Aecountlug policies Basis of preparijjg the fiDaD¢ial statements A) Ba$ls of prepllratlon and Assessment of golng wpeern: The fmancial statcments havc been prcparol in aciordance with Accounting and Reporting by ChaTities.' Ststemellt of ReCoM￿¢llded Practice applicable to charities in preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective l January 2019) - [ch￿ltieS SORP IFRS102)), the Financial RqN)rting StAndard appli¢able in thc UK and Republic of Ireland (FRS 102). Thcse fjnancial stAt￿)ents bave been prepared on a going con¢¢m basis, and the tswtees do not consider there to be n]ateTial uncertainties aixlut the ch8TiWs ability to continu¢ &5 a going ¢oncctL The truste¢s have consid¢rEd the ongoing impact of the COVID-19 pandemic on the charity. and do not consider it to have a significant effect on ihe charity's ability to Continue as a going conc¢m. These a¢counting w)licies have been applity COll81itently dwing the cutrent and the prior year. The trust ¢onstitute5 a public benefit entity as defu￿1 by FRS 102. b) Income reeognition All incom¢ is r￿ognISed once the Cljarity has entitlement to the inCOllLe. it is probable that the income will be rec¢Aved. and the amountof iDcomereceivable canbe measur￿1 reliably. c) Expetyditure recognition Liabilities are re¢o8nised as expenditure as soon as there is a legal or ¢onstNctive obligation commin1￿￿ the ¢l)arity to that expcnditure. it is probable that settlement will be required, aThl the amount of the obligation b¢ measured r¢Riably. All cxpenditure is accowkted for on an aCcn￿lS basis. d) Irre¢overable VAT Irrecoverable VAT is chargcd against the expenditure heading for whicb it was incurred. e) Chari*#ble commltments Ongoing ¢haritablc commitments are PTDvided for in when the unwnditional commitmeot has been commutii¢ated to th¢ beneficiary. O Casb flow statement The foundation qua]ifi¢s &8 a sujall retrf)rtillg entity wider FRS102 s￿tion and is therefore excmpt from the requirement lo prepare a c&sh flow ststement. g) C8sh and cash equlvthnt Cath and cash equivalcllts include casb inlwid and bank 12 Careys Foundatlon C.l.O Notes to the financial statements -eontinued For the year euded 31 Mar¢b 2024 h) Financial instruments The company has choscn to adopt the Sections I l 12 of FRS102 in respect of fil￿]ela1 instruments. Basic financial assets, including donattons and other receivables. cash bank balances are initially recogniscd ￿ tsansartion price. Basic financi￿ liabi]iiies. includmg amounts OW￿ to beneficiaTies and other pay&bl¢5, bank loans are initially recognisd at transa¢tion price. Debt instmments subsquently carri¢d at amortis¢d ws¢ ￿sing the effective interest rate metbod. 2. Trustees, remuneration alld benefrts None of the trustees received any rlltoluments in either year and no expellses wer¢ reimburscd to thcm. The trttst administrator is employed by PJ Carey Contraelors LÉmited and the remunerationof tkn adMi￿torrep[esentsPaymeDI for services both to the Carey 8roup of companies and the trusL The r￿Jority of the costs associatcdwith the adMI￿t￿tiOn of thc Careys Foundation TnLSt are borne by related companies. It is not possible to quantify or mvdsure the value of the donated services detailed above. There were Do employees ofthe ttust in eithw the cumt or the prior year. Trusl¢es' expenses There were no trustees. expens¢8 paid for the year olded 31 Marcb 2024 nor for the year ended 31 March 2024. 3. Governance costs The tNsl pays th¢ fe¢s of the independent examiner of £2.100 (2023- £2,000). The costs of any additional tax advi50ry Wotk and legal advice for ttustccs associated with CODsti￿tiOnal and ytatutory reqUirem￿ts are paid by a related party. 4. Summary of fund movernent The increase in flu￿5 during the peTiod ￿.85 due to higher donations than expendittw All funds ar¢ Ikcld iu a non.interest-bearAng bank accowit. 13 Careys FourKlation C.l.O Notes to the financial statements -contiulled For the year ellded 31 March 2024 5. Debtors.. Amowits falllllg due Jvitbill ome year 2024 2023 Trade debtors 51.968 11.989 6. Creditors: Amounts falliDg due within olle year 2024 2023 Trade credito A￿nIalS 70,108 42.521 7. Rd8ted party disdosure3 The trustec5 regard PJ Caffy conlThcto￿ Lin)ite& a company registered in England and Wales, and other Carey Gmw) coTupanies as being ￿Lated p&rties b¢c&use the charity depends on the company for its annual income and for admiDistrative support. The Cateys Foundatiojj tTr￿¥S main source of income is periodic donations by C8rey Group comp8nies. Durittg the year enditig 31 m?￿h 2024. this an￿Ullt¢d to donations of £239,299 (2023.. £292,484). At 31 March 2024, CaTryS Foundatioll owed £52.113 (2023.. £41.J43) to Carey Group companies. During the year ending 31 March 2024. in¢luded ill related paty transactiolls Careys Foundation donated £11,038 (2022.. £JO.526) that relate to cash donations Taiged &t site level. 14