The Morrisons Foundation Annual report and financial statements Registered charity numbers 1160224 & SC045634 Company number 09104264 For the 52 weeks ended 27 October 2024
The Morrisons Foundation Annua report and financlal ststemenls Registere(I charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Contents Page R&f6r6nce and administrative information Trustees. report Statement of Trustees. responsibilities Independent auditors, report to the Members and Trustees of The Morrisons Foundation Statement of flnancial actlvities 10 8alan¢e sheet Cash flow statement 12 Notes to the financlal stalemenls 13
The Morrisons Foundation Annual report and financsal ststemenls Regislered charily numbers 1160224 & SC045634 Company number 09104264 27 Oclobef 2024 Reference and administrative information Charlty name The Morrisons Foundation Truslees David Scott Sarah Wilkinson Charles Dacres Christine Creswell Emily Swords Emma Spragg Guy Mason Chair of Trustees Independent Trustee Independent Trustee Independent Truslee (Appointed 8 May 20241 Independent Truslee (Resigned 8 May 20241 Senlor staff members Joseph Clark-Bland Adrian Horsley Morrisons Foundation Specialist Morrisons Foundation Advisor Company roglstralion numbor 09104264 Charlty reglstratlon numbers 1160224 (Charity Commission) & SC045634 (Office of the Scottish Charity Regulator) Prin¢lpal offlce Hilmore House, Gain Lane, Bradford, Wesl Yorkshire, BD3 7DL Independent audltors Pricewaleihousecoopers LLP, Central Square, 29 Wellingion Sl, Leeds, LSI 4DL Bankers HSBC Bank PLC, Regional Service Centre Europe, PO Box 125. 2nd Floor, 62-76 Park Slreet, London, SE1 9DZ Legal advlsors Wrigleys Solicitors LLP, 19 Cookridge Street, Leeds. LS2 3AG
The Morrisons Foundaticm) Annual report and financial stateMts Re9islered d)arity numbets 1160224 & SC045634 Company number 09104264 27 Cttober 2024 Trustees, Report for the period ended 27 October 2024 The Trustees present Ihelr Trustees. Annual Report and audlted flnanclal statements of The Morrisons Foundation ("Ihe Charity") for the 52 week period ended 27 October 2024. Accountlng reference date These financial statements represent the 52 week period to 27 October 2024. The accounting period of the Charlly ends on a Sunday not more than seven days before or after the a¢counlln9 reference dale of 31 October. Small company provlslons The Charlty has taken Ihe exemptlon from pparIng a strategic report In aexordance with section 4148 of the Companles Act 2006, ObJect5ves and aGtlvllles Th8 Morrlsons Foundation has general charllable purposes and aims to support charilles v4hlch make a poslllve difference in local communities across England, Scotland and Wales. Tho Truste•s' vlew is that th• requir6m•nt that The Morrisons Foundation conducts its affairs exclusively for the public benefit is met by ensuring that all donations are made lo charltles reglstered In England, Scotland or Wales. Donatlons 8re made in two ways: By rnatch funding Ihe money raised by Wm Morrison Supermarkets Llmlted I'morrlsons.) colleagues for charllles {'Match funding programme,); and By awarding grants to charltles which h8lp to mak8 a poslllve dlfference In local communitles ('Grant programme'l. Match fundlng programmo Match funding is available for Morrisons colleagues who raise money for charities thal are registered vrfith the Charily Commlsslon or the Offic6 01 the Scottish Charity Regulator and that deliver Charilabla activities in England, Scotland or Wales. For a match fundSng application to be successful, Morr5sons colleagues musl demonstrate that they have applled an Investment of Ilme or effort In the fundraislng aclivily. and be able lo provlde evidence of Ihe money they have raised for Iheir chosen charity. Morrlsons colleagues can make appli¢ailons online for a maxlmum discretionary amount of £1,000 par request, UP lo twlce each flnanclal year. The Trustees have delegated th8 authorily to approve malch funding applications lo The Morrisons Foundation specialist responsible for managing activitias on a day to day basis. Grant programm• The Moffisons Foundation's grant programmè is designed to support charity projects that make a posltlve dlfference In local communitles across England, Scotland and Wales. Grant funding is available for charltles that are registered with the Charity Commission or the Offic8 of the Scottish Charity R8gulator. The Morrisons Foundation's grant making policy exlsts to ensure that The Morrisons Foundation benefits the public and applies Its fundlng falrly and conslstently. The Trustees conflrm that they have referred to the guidance conlained in the Charity Commission's general guidance on public benefit when r8viewing The Morrisons Foundation's grant making poll¢y. The Trustees are brhefed by The Morrlsons Foundation specialist on all applications fffi grants which meel the criteria set out in the grant policy. All d8cisions relating lo such grants are made by Ihe Trustees. The Truslees vote on the outcoma of tha application, with a majority in favour required for the application to be approved.
The Morrlson5 Foundation Annual feport and financial slalemenls Regislered charily numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Trustees, Report for the period ended 27 October 2024 (continued) Flnancial review The statement of the financial activities for the period is sel out on page 10. Financial statements are reviewed before issue by all Trustees and the annual financial statements are subject to audit by the registered independent auditors. As at 27 October 2024, The Morrisons Foundation had nel assels of £1,687.221 129 October 2023.. £2,711,400) with £1,492,317129 October 2023. £2.402,441) of this amount relating to unreslricled funds. Principal achievements during the period The period covered by this report and attached financial statements is 30 October 202310 27 October 2024. During this period, the activity of Th& Morrisons Foundation comprised the rec81pI of income from Morrisons of £2,677,391 129 October 2023.. £2,359,998), Ihe making of grants of £3.317,383 {29 October 2023.. £1,559,118). and match funding donations of £303.114 (29 October 2023.. £514,032). Principal funding $ourc88 Income is generated from the following slreams.. Single-use carrier bags.. all income net of VAT and recycling incentive arising from the sale of single-use carrier bags from Morrisons online business- Clothing banks.. a proportion ol income from clothing banks localed In Morrisons car parks,, Scralch.cards.' a proportion from Morrisons Foundation scratch-cards sold in Morrisons stores and online., Car parking fines.. a proportion of income from car parking fines levied in Morrisons car parks- and Access Point.. Morrisons donates a proporiion of incom8 received through certain third party charity conce55ion agencies booked into Morrisons stores. Fundralslng The Morrisons Foundation does not seek to raise money from the public through fundraising appeals. If funds are received into the Morrisons Foundation in relation lo a fundraising campaign of Wm Morrison Supermarkets Limit8d. The Morrisons Foundalion will ensure Ihal the campaign has been approved by Ihe Iruslees in advance and that funds are spent for the purposes for which they have been raised, The Morrisons Found81ion is not aware of any complaints relating to such fundraising, bul 51 works closely with Wm Morrison Supermarkets Limited lo ensure Ihe ¢omplian¢e with charity law and lo ensure any fundraising conforms lo recognised standards. Should any such complaints ever arise. the Chairman would rai58 them with the Trustees. The Morrisons Foundation and Wm Morrison Supermarkets Limited are aware of the importance of protecting the public. including vulnerable people. from unreasonably intrusive or persislenl fundraising approaches or undue pressure lo donate and the nature of the way in which funds are raised means Ihat the risks of abuse are inherently low. Plans for future perlods The Trustees are committed lo ensuring that The Morrisons Foundation continues Ihe activities outlined above in the forthcoming period subject lo salisfactory funding arrangements. Investment The Trustees have wide powers of investment. However, il is the intention Ihal all funds received by The Morrisons Foundation will be applied eilher in the making of donations in a¢¢ordan¢e wilh the match funding programine Or grant programme. or the payment of administration expenses. P8nding such application. funds are held in an account with The Morrisons Foundation's bank. In the snariO where this amounl exceeds the necessary balance lo ensure all usual slr8ams can b8 funded, Ihe excess is Iransf8rred lo money markel inveslmenls which allows the foundation lo receive additional interest income. This balance is nil in both Ihe ¢urrenl and prior periods dixlosed within these financial slatements.
The MorrSsons Foundation Annual repTr18nd financial slalemenls Registered charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Trustees, Report for the perlod ended 27 October 2024 (continued) Reserves The Morrison$ Foundation's ReseNes Policy reflects the Trustees, consideration of a level of reseNes which énsurei financial stability and assists forward plannlng. The policy sets out the process by which Truslees have considered the nalure of charitable funds held, the functional assets required by The Morrisons Foundation to fulfil ils obleclives, the pol8nlial financial impact of rlsk, the stability of income, and the impact of future plans and commitments. Given the int8ntion to restrlcl admlnlstralion expanses to a low levèl. the Trustees consider that the level of free reserves of The Morrisons Foundation wlll be sufficient in order lo enable il lo carry out its objaclives. At th8 end of the flnancial perlod. the charlty held £1,687,221 (29 October 2023.. £2,711,400) of reserves. The Trust888 confimi Ihal they are ultlmately accountable for $611ing and monitorlng the level of reserves kept by The Morrisons Foundatlon and will keep the reserves policy under review to ensure that il remains approprlat8. Th8 policy was revIevd durlng th8 previous year and the Trustees have agreed a plan which ensures the Carried for4vard reserves ara at least £500,000 in line with this policy. Slructurog governance and management The Morrlsons Foundatlon was incorporatèd as a private charllable company limited by guaranl8e on 26 June 2014 and was registered with the Charlly Commission on 29 January 2015 In England and Wales. The Morrlsons Foundatlon was also reglstered wlth The Officé ol the Scottish Charlty Regulalor on 22 May 2015. The Dlreclors are Trustee3 for the purposes of charlly law and In this report are collectively referred lo as the Trustees. R•sponsibility for The Morrisons Foundation'3 direction and affair8 lies wilh the Trustee3. The articles of association of The Morrlsons Foundation regulate how the Trustees meet and make decislons for The Morrisons Foundation. The artlcles of associatSon provlde that there musl be no fewer Ihan three nor more than ten Trustees, and Ihal at least two of the Twstees musl neither be directors nor employees of Morrisons nor a relative of any such director or 8mployee. The power of appointment or removal of Truste8s118s wllh the Trustees. Trusteès arè elected lo serve for maxlmum perlod of three years., Independent Trustees ar8 restrl¢led lo a Iwo year period. Trustees may be re-elecled aft8r Ihls tlrne by the Tiuslees of The Morrisons Foundation. On appointment each Trustee is required to confirm that they have read the Charily Commission guldance In relation to Trustees dutles and The Morrison$ Foundation's policies, New Trustees meet with the Chairman of the board of Trustees. Tralnlng needs are assessed and mel as neSSarY. At the quarterly Trustees, meeling5, the Trustees agree the broad strategy for The Morrisons Foundatlon, Includlng consider8lion of grant maklng, reserves. risk management. pollcies and performance, when requested lo do so. The day io day management of The Morrisons Foundatton's activities are delegalod to The Morrlsons Foundalion speclallst. The Truslees engage the servlces of an extemal legal advisor lo ensure that decislons regarding The Morrlsms Foundation's strategy and activitl8s comply wilh charity law requirements. The legal advisors also conduct ad-hoc reviews of The Morrisons Foundation'5 management, policies and procedures. All Trusl8es give Iheir tlme freely and no Trustee remuneration or expenses were paid in the period.
The Mornsons Foundation Annual report and linancial slalemenls Regislered charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Trustees, Report for the period ended 27 October 2024 (continued) Risk management The Trustees have considered Ihe major risks to which The Morrisons Foundation is exposed and have established systems and procedures to manage those risks. The Trustees believe Ihat all major risks are being mitigated. The Truslees have considered The Morrisons Foundation's objective5, mission and strategy, the scale of ils operations and any internal or external faclors which may present a risk to its financial security, reputation, beneficiaries or governance. The Morrisons Foundation's risk management policy sets out the process by which potential risks are identified, assessed, managed and reviewed, and the risk register provides a lop-level view of those risks. Policies and conlrols have been irnplemenled lo minimise the tisk of fraud or olher mSsapplicatlon of The Morrisons Foundation's funds. These are regulafly reviovied and updated as required. The approa:h to risk management Is reviewed by Ill¥ Tiii4iue4 annually. This includè: managemenl policy and fisk reglsler. full review of the risk Rolated parties The Morrisons Foundation reneives income from, bul is independent of, Moi "Oi +). I ne Trustees lake 811 decisions in the best interests of The Morriseris Foundation and ils beneliciaries and in furtherance of ils charitable objectives. Statemènt of public benèfit Thè Trustees confirm that The Morrisons Foundation complied with the Charities Act 2011 in the period and that all grants have been made, taking into account tfr-. Charity Commission's guidance on public benefit, only lo registered charities. Delails of significant activities undertaken in the period are published in The Morrisons Foundation Annual Review, which is available at www.morrisonsfoundaiiknin,com. Disclosure of inforrnatlon to the audltors The Trustees who held office at Ihe dale of approval of this I rb$18es' report confirm that, so far as Ihey are aware, there is no relevant audit information of which The Morrisons Foundalicbi 4 vltiii,,, arA unaware and the Trustees have taken all the steps Ihey ought lo have taken as Trustees lo make themselves aware of any reievdli, -,dil information. Signed b David Scott, Trustee, on behalf of the Trustees 24 July 2025
The Morrisons Foundation Annual repori and financial slatemenls Registered charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Statement of Trustees, responsibilities The Trustees (who are also directors of The Morrisons Foundation for the purposes of company law) are rasponsible for preparlng the Trustees, Annual Report and the fi'nancial staternents in accordance with applicable law and regulation. Company law raquires the trustees to prepare financlal statements for each financial year. Under ihal law the Irustees have prepared the financial stat8m8nts in accordance with United Kingdom A¢counllng Standards, comprising FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally Accepted Accounting Praclice). Under company law thè trustees must not approve the financial statem8nts unless they a satisfied that Ihey give a true and fair view of the stale of the affairs of the charitable company and of the Incomlng resourc8s and appllcallon of resources, includlng the income and expenditure, of the chadtable company for that period. In preparing these financial Statements, Ihe trustees are required to.. select suitable accounting policies and then apply Ih8m consistently; observe the m8thods and prln¢iples In the Statement of Recommended Practice: Accountlng and Rèporting by Charities (2019): make judgment and estlmates that a reasonable and prud8nl; state whelher applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclos8d and explained in th8 financial siatemenls. and prepare the financial statements on the golng concern basls unless il is inappropriate lo presume that Ihe charltable company will ¢onlinu8 in business The Trustees aré responslble for keeping adequate accounllng records that are sufficient to show and explain the Charilable cornpany's transactions and disclose with reasonable accuracy at any time the financial position of the charitab18 company and enable them lo en8ure that the financial statements comply wilh the Compani8s Act 2006. the Charllies and Trust88 Investment (Scotlandl Act 2005 and the Charlties Accounts (Scotland) Regulations 2006 las amended), They are also responsible for safeguarding the assels of the Charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Slgned by Davld Scott, Trustee. on behalf of the Truslaes 24 July 2025
The MorTisons Foundation Annual report and financial statement8 Regislered tharity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Independent auditors, report to the Members and Trustees of The Morrlsons Foundation Report on the audit of the financial statements Oplnlon In our opinion, The Morrisons Foundation's financial statements (the 'financial statements"): give a true and fair view of tho state of the charitable company's affairs as at 27 October 2024 and of its incoming resources and application of resources, including its income and expenditure, and cash flows for the year then ended., have been properly prepared in accordance with United Kingdom Generally Acc6Pted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and applicable law)- and have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of The Charities Accounts (Scotland) Regulations 2006 {as amended). We have audited the financial statements, included within the Annual report and financial statements (the "Annual Reporf). which comprise.. the balance sheet as at 27 October 2024: the statement of financial activities and cash flow statement for the year then ended and the notes to the financial ststements, which include a description of the significant accounting policles. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK) ('ISAs (UK).) and applicable law. Our responsibilities under ISAS (UK) are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Independence We remained independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, Conclu8lon8 relatlng to golng concern Based on the work we have performed, we have not identified any material uncertainties relating to events or Gonditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from the date on which the financial ststements are authorised for issue. In audits'ng the financial statements, we have concluded that the trustees. use of the going ¢on¢ern basis of accounting in the preparation of the financial statements is appropriate. However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charitable company's ability to continue as a going concern. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sects'ons of this report. Reportlng on other Infomiatlon The other information comprises all of the information in the Annual Report other than the financial statements and our auditors, report thereon. The trustees are responsible for the other infomi8tion. Our opinion on the financial statements does not cover the other information and. accordingly. we do not express an audit opinion or, except to the extènt otherwise explicitly stated in this réport, any form of assurance thereon.
The Morrisons Foundallon Annual report and fffiancial slatements Regislered charfty numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Independent audltors. report to the Members and Trustees of The Morrlsons Foundation (contlnued) In connection with our audlt of the financial statements, our responslblllty IS to read the other information and, In doing so, consider whether the other information is materlally Inconsistent with the financial statements or our knowledge obtsined In the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are requlred to perform procedures to condude whether there Is a material misstatement of the financlal statements or a matsrlal mlsstatement of the other infomation, If, based on the work we have performed, we conclude thal there is a materlal mlsststement of this other information. we are required to report that fact. We have nothlng to report based cn these responslbllities. With respect to tha Trustees, Report, we also ¢on$idered whethér the disclosures required by the UK Companles Act 2006 have baen included. Based on our work undértaken In the course of the audll, the Companles Act 2006 and The Charities Accounts {Scotland) Regulations 2006 (a8 amended) require us also to roport certaln oplnlons and matters as described below. Trnst888' Report In our op5nlon, based on the work undertaken in the course of the audit the Informatlon glven in the Trustees. Report for the financial year for whlth the financial statèments are prepared Is consistent with the financial statements., and the Trustees, Report has been prepared in accorda6 wlth appllcable legal requirements, In addition, In light of the knowledge and understsnding of the charitable company and Its énvlronment obtalned In the course of tha audi( we are required to report If we have identified any material mlsstatements In the Trustees. Report, We hava nothing to report in this resp8ct. R•8pon8lbllltlo• for the flnanclal stat•ments and the audlt R88ponslbllki88 of the trustees for the flnancial statements As 8xplalned more fully in the Ststsment of TNstees' Responsibllltlès, the trustees are responsible for the preparatlon of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such intemal control as they determine is necossary to enable the preparation of financlal statements that are free from material misstatement, whether due to fraud or error. In preparlng the financial statements, th8 trustees are respon8ible for asses81ng Ihè charltable company's ability to continua as a going concern, discloslng as applicable, matters related t¢ golng concern and using the going concem basls of accounting unless the truste68 elther intend to liquidate the tharltable company or to cease operations, or have no r881istic alternative but to do so. Auditors, responslbilities for the audit of th8 Ilnancial 8tatements We have been appointed as audltors under section 44(1) of the Charltles and Trustee Investrnent (S¢otlaftd) Ad 2005 and under the Companies Act 2006 and report in acMrdan¢e vhth the Acls and relevant regulations made or havlng effecl thereunder. Our objectives are lo obtain reasonable assurance about Nthether the financial Statements a8 a whole are free from material misstatement, ether due to fraud or error, and to issue an auditors, raport that Sncludes our cpinion, Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conducted in accordance wllh ISAS (UK) will always detect a materlal misstatement when it exists. Misstatements can arise from fraud or error and are consldered material il, individually or in the aggregate, they could reasonably be expected to influence the economk declslons of users taken on the basis of these financial statements, Irregularities. Includlng fraud, are instances of non-compliance with laws and regulalions. We design procedures in line with our r&sponslbilltles, oullined above, to detect material misstatements in respect of irregularities, includlng fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Based on our understsndlng of the charitable company, we Identlfled that the principal risks of non-wnpliance wllh laws and regulations relat8d to charity law, and we consldered the extentto which non-compliance might have a material effect on the financial statements. We also consldered those Iwws and regulations that have a direct impaGt on the financial statements such as the Companies Act 2006, the Charlties and Trustee Investment {Scolland) Art 2005 and regulation 8 of The Charttles Accounts (Scotland) Regulallons 2006 (as amended). We evaluated
The Morrtsons Foundation Annual report and financi81 statemenls Regist8red charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 ResponslbSlltles for the flnanclal statements and the audit (contlnued) managément's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to misappropriation of assets. Audit procedures performed included: Discussion with management and those charged with governance including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; Testing the approval and paymenl of amounts related to charitable activities., and Incorporating an element of unpredictsbility into our testing approach. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations Ihat are not closely related to events and transactions reflected in the finanGial statements. Also, the risk of not detecting a material misstatsment due to fraud is hi9her than the risk of not detecting ona resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations. or through colluslon. A further description of our responsibilities for the audit of the financlal statements is IocAted on the FRC'S website at.. w.Irc.0rg.ukjauditorsresponsIblIItIe8. This description forms part of our auditors, r8port. Use of this report This report, including Ihe opinions, has been prepared for and only for the charitable company's members and trustees as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scolland) Act 2005 and the Companies Act 2006 and regulations made under those Acts (regulation 10 of The Charities Accounts (Scotland) Regulations 2006 (as amended) and Chapter 3 of Part 16 of the Companies Act 2006) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into wh08e hands it may come save there expressly agreed by our prior consent in writing, Other required reporting Matt•rs on which we are requlred to report by exceptlon Under the Companies Aci 2006 and The Charities Accounts (Scotland) Regulatlons 2006 (as amended) we are required to report to you if, in our opinion.. we have not obtained all the information and explanations we require for our audit; or adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or certain disclosures of trustees, muneratIon specified by law are not made., or the financial ststements are not in agreement with the a¢UntIng records and retums. We have no exceptions to report arisin9 from this responsibility. Entitlement to 6xemptlon8 Under the Companies Act 2006 we are required to report to you if, in our opinion, the trustees were not entitled to.. take advantag8 of th8 small companies exemption from preparing a Strategic Report. We have no exceptions to report arising trom thi5 responsibility. Robert Halfpen y (Senior Statut ry Auditor) for and on behalf of Pricewaterho secoopers LLP Chartered Accounlants and Statutory Auditors Leeds 24 July 2025
Th• Morrlsons Foundatlon Annual report and financial statements Reglstered charity nnber8 1160224 & SC045634 Company number 09104264 27 October 224 Statement of flnanclal activities for the 52 week period from 30 October 2023 to 27 October 2024 Unr••trlct•d funds R••trlctod 62 wo•k 52 week fund8 p•rlod •ndad poriod ended 27 OCtor 29 October 2024 2023 Nole Incomlng r•8ourea• Incomlng rn8ourwi from Don•t1¢8 Income from salès of nier bags - England Incom• Irom Clothlng Bank8 Income from Charfty Scratchcard8 Income from Car Parklng fine8 Acce88 Point Donatlon 818,897 732,626 202,608 800,000 126,309 815.897 732,526 202.659 758.327 724,572 46,113 800,CKJO 13.602 800,000 126.309 Oth•r Incom8 19,384 Total Incomlng rnurc 2,677,391 2,677,391 2,359,998 Ruour¢M •xp•nd•d Chjrllable activllles 13.508,442) (81,073) 13,587,515) 1114.058) 13.820,497) (2,073,150) (81,073) (86,040) 1114,0551 13,701,570> (2,139.190) Admlnlstratlva costs Total regour¢•8 •xp•nd•d Nel movement In fund$ 1910,124) 2,402.441 1114,0001 {1,024179) 308,959 2,711,400 220.808 Balance brought forward at 6tart of poriod 8alan¢• ¢•rrfod forward at •nd of p•rfod 2,490,592 1,492,317 194,904 1,687,221 2,711,400 The mOls0n5 Foundatlon has no recognlsed gains or losses other than the net movem8nt in funds for the p8riod. All results derive from contlnulng actlvlOe6. The notes on pages 13 to 17 form part of these financial statements. 10
The Mornsons Foundation Annual report and financial slalemenls Regislereii charily numbers 1160224 & SC04S634 Company number 09104264 27 October 2024 Balance sheet As al 27 Oclober 2024 We 27 October 2024 29 Oclober 2023 Current assets Cash al bank and tn hand Trade debtors 1.301,936 830,490 2.132,426 2,050,256 999,239 3.049,495 12 Total current assets Credilor$.' amounts falllng du8 wlthln one ar Net a$$8ts 13 1445,2051 1,687,221 1338,095) 2.711,400 The funds ol the Chailly: Reslri¢led funds - Wales Unreslficled fund5 Total charity funds 14 194.904 1,492,317 1,687,221 308.959 2.402.441 2,711.400 15 The financial slatemenls on pages 10 to 17 were approved by the Board of Trustees on 24 July 2025 and signed on ils behalf by: Signe by David Scott, Trustee, on beh81f of the Truslees 24 July 2025
The Mornsons Foundation Annual repTr1 and finar181 statwnents Registered tharily numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Cash flow statement for the 52 week period from 30 October 2023 (0 27 Oclober 2Q24 52 ak rIOd 52 week perlod ended ended 27 October 2024 29 October 2023 N81 Incomlng r8•ourc88 {1,024,179 220.808 Movomfrnt In: Trade debtors Creditors 168,749 107.110 (748,320) (188.441) (219.226) (186,859) Mel cash ouffiow from op•ratlng actlvltl•• Decrease In cash In th• perlod Openlng cash al bk and in hand Clo$lng cash ot bank and In hand (748.3201 2,050,256 1,301.938 {186.859) 2,237,115 2,050,256 12
The Morrisons Foundation Annual report and linancial slatemenls Registered charity numbers 1160224 & SC045634 C¢)mpany number 09104264 27 October 2024 Notes to the financial statements (lorming part of the fin8nci81 stalemenls) for tha 52 week pariod Irom 30 October 2023 to 27 Oclober 2024 1 Accounting poli¢les The following a¢counling policies have been applied consistently in dealing with items which are considered malerial in relation to the financial slatem8nts. Basis of preparatlon Th8 financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing financial stalemenls in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019) - (Charitl8S SORP (FRS 102}), Ihe Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102). the Charitias and Trustee Investment {Scotl8nd) Act 2005, regulation 8 of the Charities Accounts IScoll8nd} Regulations 2006 las amended) and the Companies Act 2006. The Morrisons Foundation meels the definition of a public benefit entity under FRS 102. Assets and liabilities ar8 initially recognised al historical cost or transaction valu8 unless otherwise ststed in the relevant accounting policy notes. The Trustees have concluded that The Morrisons Foundalion has adequate resources lo conlinue as a going concern for the next 12 months, and accordingly Ihe financial statements have been Prepared on a going concern basis and on a historical cost basis under th8 accruals concept other than as staled below. Incomlng resources Income is recognised in the period in which enlillement occurs and Can be measured with reasonable certainty. Income is defarred only when The Moriisons Foundation has to fulfil conditions before becoming enlilled toll, Resources expended Expenditure on charitable aclivilies is included on an accruals basis on nolifi¢81ion lo the relevanl beneficlary. Governance costs relate to those cosls incurred in conneclion with compliance wilh constitutional and slalulory requSrements and are recognlseé on an accruals basis. Unrestricted funds Unrestricted funds represent funds which are expendable al the discretion of the Trustee$ in furtherance of Ihe objectives of The Morrisons Foundation. The use of the funds has ncl been reslricled lo a particular purpose by the donor or their representalives. Restrlcted lunds Reslricled fund5 consist of donalions, legacies and grants received, for which the donor or grant giver has specified th8 purposes for which th8 r8sourc8s can be ulilised. Outgoing resources on restricted funds reflect the 8ppropriate expenditure that has been charged lo those funds. Restricted funds are disclosed by programme in Ihe noles lo Ihe financial slalements. Taxation The Morrisons Foundation is a registered charity, and as such is enlilled to certain lax exemptions on incom8 and profits from inveslmenls, and surpluses on any Irading activities carried on in furtherance of The Morrisons Foundation's primary objectives, if Ihese profits and surpluses are applied solely for charitable purposes. Cash at bank and in hand Cash at bank and in hand for cash flow purposes include cash-in-hand, cash-al-bank and cash invesled in money markets. Creditors Trade and olher Creditors are reco9nised where the charity has a present obligation resulting from a past ev8nt that will probably resull in the Iransfer of funds lo a third party and the amount due to settle Ihe obligation can be measured or eslimated reliably. After six months, the Charity reserves the right lo withdraw the paymenl if payments details have not been provided in Ihis period. 13
The Mofflsons Foundatlon Annua rep(Ml and financial statements Reg¢stered charity numbevs 1160224 & SC045634 Company number 09104264 27 October 2024 Notes to the flnanclal statements (contlnued) (forming p8rt of th8 fin8nci81 stat8m8nts) for the 52 week perlod from 30 October 2023 to 27 October 2024 1 Accountlng pollcles (contlnued) Debtors Accrued income is included at the best estimate of the amounts receivable at the balance sheet date. 2 Income from sale of carrler bags- England Total 27 Octobor 2024 Total 29 Odober 2023 Income from sale of canier bags - England 815,897 756,327 Income frorn the sale of carrier bags - England represents proceeds of Ihe sale of slngle use carrler bags In Morrlsons online business in England. 3 Income from Clothlng Banks Total 27 October 2024 Total 29 October 2023 Income from Clothing Banks 732,526 724,572 Inwme from Clothing Banks represents Income from 549 Glothlng banks located In Mcrrfsons car parks plus 43 clothing banks In Morrisons Oaily Stores {29 October 2023: 549 Morrisrxs Car Parks and 43 In Morrlsons Delly Stores). 4 Income from Charlty S¢ratch¢ards Totsl 27 October 2024 Tot 29 October 2023 Income from Charbly Scratchcards 202.659 46,113 This incom• represents commission earnt Inei of prizès) from tha sala of Morrisons charity scr8tchcards. S Incom• from Car Parklng Fin•8 Total 17 Octobor 2024 Tolal 29 October 2023 Income from Car Parking Flnes 800,000 800,(M)O Thls Inccme represents a proportion of car parf(ing fines levled in relation to MLYrlsons Cer parf(s by thlrd partles. 14
The MorTisons Found81ion Annual rerJ)rt and financial statements Registered charily numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Notes to the financial statements (continued) (forming part of Ihe financial stalemenlsj for the 52 week period Irom 30 October 202310 27 October 2024 6 Access Polnt Donation Total 27 October 2024 Tolal 29 October 2023 Access Point OonalDn 126,309 13,602 This in¢ome represents a donation by Morrisons of a prOportn of Income received through certain Ihird party charily ccncession agencies booked Into Morrisons 5tor8s. 7 Othèr income Total 27 October 2024 Total 29 October 2023 Other income 19.384 This income represents all other income inlo The Mornsons Foundation. 8 Chaiitable a¢tivit1•8 All charitable activities were charitable donalions. During the period, The Morrisons Foundation made 805 {2023: 6011 éonalions lo charitable causes. The Morrisons Foundation made grants of £3,317,383129 Oclober 2023.. £1,559,118) and match lunding donations of £303,114129 October 2023.. £514,032) in the period. All monies were awarded to in51ilutions. An overview of grant funding for the periods ending 27 October 2024 and 29 October 2023 ar8 det8iled below.. 27 October 2024 29 October 2023 Tackllng poverty and social deprivalion 42 Enhancing communily spaces, facilities and ServeS 55 41 ImproviThJ health and we1lbe1j 100 15
The Morrisons Foundatlc Annual report and financial s181emenl8 Regbstéred charily numb8r$ 1160224 & SC045634 Company number 09104264 27 October 2024 Notes to the flnanclal statements (continued) (fornwng part of th8 finan81 slatam8nts) for tha 52 week pgrk)d from 30 October 202310 27 Oclober 2024 9 Admlnlstrativ• costs Total 27 October 2024 Tolal 29 Oclober 2023 Admlnislratlv8 costs 81,073 66.040 Administrative costs for the period Included professton81 leg81 advlce. design agency work ané other sundry administration faes. Ne of the Tiust88s rec8lv8d any ramunerallon or r8imbursement of expenses during the perlod In respect of their seNlces to The Morrisons Foundation. The audll fee is paid on behalf of Ihe charity by Wm Morrlson Supermarkets Llmiled. 10 Hoodcount Total 27 October 2024 Total 29 Oclober 2023 Headcounl 11 Employee costs There are no employees of The Morrlsons Foundalion129 October 2023.. nll). 12 Trado d•btorn Tolal 27 O¢tober 2024 Total 29 October 2023 Trade debtors 830,490 999,239 13 Crlt0. amounts falllng du¢ wlthln one year Total 27 October 2024 Total 29 October 2023 Accruals and deferred income 445,205 338,095 Accwals Include grant and match funding commltted by The Morrisons Foundation bul not paid at the perlod end. 16
The Morn50ns Foundation Annual rep(Nl and financial statements Re9tslered charity numbers 1160224 & SC045634 Company number 09104264 27 October 2024 Notes to the financial statements (continued) (lorming part ol rhe financial statements) lor the 52 week period from 30 OGtober 2023 10 27 Oclober 2024 14 Restricted funds . Wales 8alanc9 at 30 October 2023 Incomo Expendlture Balance at 27 October 2024 Wales 308,959 1114.0551 194.904 308,959 1114,0551 194,904 15 Reconclllallon of movements Sn funds UnrostrSct•d lunds Rostrlcted Funds Total 27 Octobèr 2024 Total 29 Oclober 2023 Al the beginning of the period Nel movement in lunds in the period At the end of the perlod 2,402,441 1910,1241 1,492,317 308.959 1114,0551 194,904 2,711.400 (1,024.1791 1,687,221 2.490,592 220.808 2, 711.400 16 Related party transactions There were no related party Iransactions during ihe period, 17