The Morrisons Foundation Annual report and financial statements Registered chaiity numbers 1160224 & SC045634 Company number 09104264 For the 52 weeks ended 26 October 2025 The Foundatv)n Anrwl repryl fmandal $taiements Rew*red charrty rthibers 1160224 & SC045634 C¢Ynpgny wwrnber 09104264 26 October 2025 Contents Page Reference and administrative infom)alh3n Tru$tees' fep)rt statement of Truste85' resp)rtsibiliti8s Independent audiltys. report to the Members arKI Trustees of The M[￿rI￿S Foundation ststement of financial &tiMtiès Balance sheet 10 Cash flow sialement 12 Notes lo the financlal statemwts 13 I￿rrI￿or6 FOundat￿n Alvwl ropcrft fwncrdl statements Rw•5terwJ clwity numl*r¥ 1160224 & SC045634 Company number (Y3104264 26 C¢tober 2025 Referencg and admlnlstrative Inforniatlon Charlty name The Morrisons FouTrJat Truste•s Davkj Scott Sarah Wilkinson Charfes Dacres Christine Bryce Emily Swords Emma Spragg Chair irf Trustees Independont Trustee INJependenl Trusiee Independent TTh￿tee Senlor 8taff m•mb• Joseph Clark-BlaTrJ Athan Horsley m￿l$c￿ FoUnd81￿n Manag Company r•glstratlon number 09104264 Charlty reglstration numbèrs 1160224 (Charty Commlswonl & SC045634 (oifth ofthe Scottish Ch*ity Regulator) PrI￿1paI offlce Hllmore House. Gain Lane, Bradford. West Yorkshire. BD3 7DL Ind•pendent audllows PricewalerhouseC¢4)pers LLP. Central Squwe, 29 WeliThJlon St. Leeds, LSI 4DL Bankfjrs HSBC UK ￿￿k PLC. 1 Centen￿Y Square. Birmirvjham, B11HQ L•gal advisors Wrigleys Solidt¢xs LLP. 3rd Flc#)r 3 Wenwon Place, Leets. ErMJlarKI. LSI 4AP Th? ￿L￿n"sC￿$ Foundatthin AMLbal ￿[￿*t and fmncK91 statèments RvJi8*r&J tharity numbers 1160224 & SC045634 Comwy rwjmber 09104264 26 Octcknr 2025 Trustees, Report for the perlod ended 26 October 2025 The Trust8e5 present their Trustees, Annu81 RepK*I arKI audited fThncHI stalw￿ts ofThè Mwiscffls Foundati￿ IW Charitfl for the 52 week p8rkxl erKled 26 Oclober 2025. Accounllng referenea dato Thgse financial sL*ments represffirt Ihe 52 %￿k per￿￿ lo 26 Octc4)er 2025. The acc¢JJnMg pericrf1 of the Charity end5 on a Sunday n¢X m¢ye than seven days t¢fc*e the ac(#)untirvJ reference date of 31 Octc&8r. Small company provlsi¢)ns Ch￿ty has tsken th¢ exem￿1.(￿ frun preparir¥J 8 Strale9￿ rewt in acc£¥d￿ce Wbth seCt￿n 414B of the Companies Act Objoetlvos and acllvltles The Morrison5 FOL￿dation has genera chwitsble wrwjses and ains lo charities whi¢h m*e 8 positive difference in l¢xal Communities across England, S(￿and and Wa18S. The Trustees. view is that the requirwnent Ihat The MCrfrB{￿ F￿r￿lation COTwJucts ils affairs exclusively for the public benefit is met by ensuring that all (k)nath)ns are made to Ch￿IleS regISte￿d in En*nd. Scolland or Wales. tkn*Dns are made in two ways: y mat¢h funding the morw rntsed bywm Supermarkets Limited I'N*)rrison5'1 colleagues ts ¢harit*s I'matth fun(*ng programme'l: and y awarding grants to ch*ities to mae a posilNe dill8rer￿e in IcrAI tx)mmunities I'Grant ogwme.). Match tw￿1￿9 programm• Match fundwig Is availabk Morrisons colleagues raise m(Thy lor charities that are registered thè Char'ty Commission or the oif¢e of lh¢ Scotbsh Chwty Reg￿1￿ and that delrver charilabk actiwbes in England. Scouand or Wales. For a match fundirrfj application to b8 suc￿essfUl. Mtyrisorts Colleag￿ musl demorthte that they have apFAied an investrnent of lime or effort in the fuNlraisirvJ actiwty. and be atAe to prowde evidence of the money they have rased for their clKJsen charity. Morrisons colleagues can make appli¢ali¢)ns online for a maxIm￿n discrebon8ry amomt of £1.000 per request. up to each financial ye*. The TNstees have d*ted the 8uttKty to approve match lundwig applications to The Morri50ns Foundalion Manager responsible ts managnvJ activit*s on a day lo day basis. Grant programm• The Mordsons Foundalbjn's grant wowime is de*gr￿d to suprrf)rt ch•ity wciects tr￿t make a posrtlve difference in local communbties across England. s¢￿18nd a￿1 Wales. G￿1 fuThJing is available for ch￿18¥ that are registered with the Charity C(￿miss￿)n or Il* OffKe of the Scottksh Charity Regulatc*. The m￿rIsOn$ Foundalion's grant makwYJ pdicy exists to ensure that The Morrisons Foundati￿ benefits the public and applies its funding faidy and consistently. The Truslee$ confimi that they have refwed to the guidance contained in the Charity CtynmissiM's general guidarKe on bernfft wlwn reviewir#J The Kknrri$cKts Foundation's grant m&*ing policy. The Trustees a￿ briefed by The Mryri￿ FouTrJat*)n Manager on all apffttiorts for grants wthieh meet the criteria sel oul in the grant poly. Al decisions relaiu)g to such wants are made by the Trustees. The Trustees vote on th Jtcome of the application, a majority in fas￿1 required for the app1K•￿n to be awroved. The FLwndallon repcfft financ#al statemgnts It￿51￿￿j thwity numb8rs 1160224 & SC045634 Company ThJmbw 09104264 26 Octob9r 2025 Trustees. Report for the porfod ended 26 October 2025 (contlnued) Flnanelal revlgw The Statement of thè fmarKial a￿TryI118S for the is set on page 10. slalemenls are reviewed before is$u& by all Trustees and the annual fr)ancial statements we subject to audit by the registered independent auditors. As al 26 Octcthr 2025, The Moriisons Fwnd0ik￿ had net assets of £760,399 {27 Octcé)er 2024: £1,618,384> Prlnclpal achlevements durlng the perlod The p8riod covered by Ihls repcwt and attached fIna￿la1 $L￿ements 28 October 2024 10 26 October 2025. During this Feriod. the activity of The Morrisons Foundatr'on comprised the receipt of irKome frc¥n Morrisons of £2.071,485 127 October 2024: £2.608.554). the making of grants 01 £2.420,689127 October 2024: £3.317,3831, and malch funding donations of £409,958127 October 2024: £303.114). Prlnclpal fundlng sourc•s Income is generated from the folowrKJ streams: l income nel of VAT and rec5dlr8 irtenbv8 8￿ing frcffi thè s* of swigle-use carrier bags fr￿n MoffEons online buSI￿sS. A pro￿￿On of income from cbjthing banks located in Mwlsons car wks". Proportion frcin Pknrrisons Foundation xraich-cards sokj in Morrrsons Stores and rM)line". A proportion of income frem ear p*iThJ fines ￿VIed in P*kn1￿5 w parks; and Access Pcint OMati(￿- lknrisons donates a prcwtK)n of income f￿¥¢(1 c*rtain thKd paty charity eoncess*Jn agencies Ixxjked into Pknk%ons sl(Yes. Fundralslng The Morri50ns Foundation does not seek to raise money Irom the wblic tlyough fundraising app8als. If funds arg received into Ihe Morrfsons F¢JJndation in relation lo a fLm(tratsiThJ wpaign of Wm MO￿ls0n Supemarkets Limrted, The Morrisons Foundallon will ensu￿ thai the campaign has been apFwoved by the trustees in advance and that funds are spert lor the purposes for wtrKh ￿Y haw been ratsed. The Morrisons FoundatiLM Is not aware of any c{￿p1amts relating to such fuThJraising. tr￿1 it vKwks chjsely wlh Wm rison Supermarkets Limited to ensLwe the CCthFliance with charity law and to ensure any fundraising confoms to recognised standards. Should any such cc¥np*ints ever wise, the Chaimian woukl raise them wlh the Trustees. T Morri8ons Foundation and Wm Morrison Sup￿larkets Lunited are aware of the importan¢e of protecting the public, including vulnerable people. fr￿ unrfrascfflably intrusive cy Fersistenl funthaising apwoaches or undue pressure lo donate and the nabjre of the way in vtsh furmts a￿ raiwj rnea￿s that thè risks ofalxjse are Inherently low. Plan8 for futurn p¢rlods The Trustees are commllled to enswing that The MO￿1￿ FcwThJaticfft conlinues the actr¥fitw ouuined above in the forthcomirvJ period subject lo salisfact(ry fundww mnwents. Inve8lm•nt The Trustees have wide POV+prs of InvestrnenL il is the intentM)n that al fvnds rec*iv6d by The Morrisons FourKJalion wll ba applied either in the making of donatM)ns in accordance with the match fvnding programme or grant programme, or the payment of athinistratvjn expenses. PendiThJ such apPI￿a￿On. funds we hekl in an a¢¢ounl with The Morrisons Foundalron's bank. In Ihe scenario bvthere this ￿ol￿t exceets the necessary balance lo ensure all usual streams can be fvrKled. Ihe excess is transferred lo market Investrnents wh￿h alows the fC￿ftdatIors to receive additional interest income. Thls baLqrte is nil n ts)th (>Jrrenl perK)ds dbLSosed h￿thIn these financial slatements. Th8 Morrisons Foundat rerAXt 8TrJ financk41 statements dlarity numbers 1160224 & SCI)45634 c￿panY rwmber 09104264 26 1)ctober 2025 Trustees, Report for the period ended 26 October 2025 (continued) RosoNes The Morrk8ons FoundaiK)n's ReseTh¢$ the Tntstees. of a bevel of reserves ensures finandal stability and assists fC￿ard planning. The p(rficy sets oui the F￿e$S by which TrUst￿S have considered the nature of charitable l￿d8 held. the furthin81 assets required by The mcrfrbsO￿ Foundalion lo I￿￿1 its obieclNes, the potential financial impact of risk, the stabilty of irwme. and the rnpact of lutwe plans ojmmitments. Given the xrtenlion lo reslitt administration expertses to a kyw levd. th&T￿￿tee$ ¢M￿der th8tthe1gvel offree reserves of The Mcffisons Foundation will be sufficient in C￿ lo wable it to carry oul its obiecknves. At the end of the finartial perlod, thè chaity hekl £760.399127 October 2024.. £1.618,384) of reserves. The Truslees confim thal they are ultimately aco)wtatAe f￿ setting and monrtoring Ihe level ol reserves kept by The Morrisons FoundalK)n and will keep the reserves poI￿Y und8r review to ensure that ￿ remawis appropriate. policy was reviewed during the previou$ yew and the Truslees have agr￿￿ a plan ensuw the carried forward reserves are al18ast £500,000 in line wlh this pjlicy. Structure• governance and managwmnt The Morrisons Foundation was Ir￿rpQrtt8d a5 a private ch*itable CoM￿Y limrted by gwaranlee on 26 June 2014 and was regISte￿d wlh the Chanty Commission on 29 Jarw 2015 in England and Wales. The Morrisons Fo￿datiOn was also reglstered ￿1￿ The offi￿ ol the Scottish Chwity Reguktr* on 22 M8y 2015. The D1￿CtOrS we Tnjstees for tt* wrrpxes of law this rep￿ are cdlectivety referred to as th8J Trusl88S. Reswnsibility for The Morrisons Foundation's directM)n and affairs kes v•ith the Tnjslees. The art￿leS of association of The Morrison5 Foundation regulate how the Trustees Me￿ *d make decision5 for The Morrisons Foundation. The articks of 8sscKiation provide that there must be no fewer than three than ten Trustees, and that alloasl two of the Trustees must nelthgr be dwttttxs ernF￿￿ of a rd8¢ive of any such dlrecior or em￿Ye0. The wwer of apwntment or removal of Tru51ees lies the Trustees. Trustees are elected lo seTre for maximL period of three years; independent Trustees are restricted io a t*Tryear period. Trustees may tré re-elected after this Ilme by the Trustees of The m￿$0￿$ F￿j￿lat1￿. On apwinlment Twustee is required lo ¢>J)fmi that they Iwve read th? Chwity CoMmiss￿n guTrdar￿e in ￿latIon lo Trustees duties and The Mwk%ons Foundation's wlicies. New TnL8tees meet wth the Chairman of bowd of Trust8es. Tfalning needs are assessed and met as necesswy. At the quwterly Trustees, meeb"ngs. Trustees agree the broad strategy for The McKrisons Foundation, w)¢ludlng consideratlon ol ￿ant making. ￿ServeS, risk rnanagemenl. Frt*ies and twfomiance. requested to do so. The day404ay managa))ent of Tho morri￿ FouThJatiy)'s a(aith are d￿egated to The Morrtsons Fournlation Manager. The Trtjstaes engage the ser￿S of an extwnal legal adviKff to erwre that decisions regarding The Morrisor Foundation's strategy and aclmties Comply with charity law requirements. The legal advis¢yS also conduct ad-h( reviews of The Morrisons Fo￿dati¢￿'S managemenl. polKEs and W￿9￿Jre$. All Trustees give their time freely and M Tnjstee wunwatM)n ￿ exp8n5es pai¢J in the rerlod. The MNrisons Fcyjndat Annual repcyt and ffinarKral staternents Rggistwed c*anty 1160224 & SC045634 Coryywry ThJmbèr 09104264 26 Octr*er 2025 Trustees, Report for the perlod ended 26 October 2025 {contlnued) Rlsk management The Trustees have ct)n&dered the major risks to 7wlith The Foundatton is exKX)s&J and heve established swems and procedures lo manage those risks. The Twstees believe thai au mai(Y risks are being miligaiod. The Truslees have consldered The Morrisc(¢s FOunda1￿'S o14Ktsves. missK>n and strategy. the s¢ale of ts op8ralions and any internal w extemal fadors which may presenl a r(sk to its f￿a￿la1 secuiity. reputation, beneficiarles or governance. The Morrisons Foundat￿'S risk management ￿1¢Y Sets OLrt the process by wffiich rM)tenlial risks are identified. assessed. managed reviewed. and tl* risk register provides a toTrkvel view of those rBks. Policies and controls have been implemented to minimise the ri* d fraud ￿ other M￿aPp￿Call0￿ of The Morrisons Foundation's furKls. These are regul￿Y revie￿￿￿ and updaby as requyed. The approach lo rlsk manag￿r￿1 is mie**d by ￿ Trustees amually. This indudes a full review of the rl$k management pcdicy and risk register. Rdated partl•s The Morrisons Foundation recefves income frryn. but is i￿￿nI of. N*)rrlsons. The Trustees lake all decisions in the best ￿terests of The Morri50ns Foundati￿ ￿ rts beneTKHr￿ and wi fimthtrance of its ch8ritatl8 objectives. Statement of publlc b•n•fit Trustees ccmfimi that The m¢rfr￿s FouThlatD)n ccrfnpfj8d with the Charities Acl 2011 in tho period and Ihal all grants have been made. taking into acCc￿nt the Chwity Ccffimlss￿'S guidance pubh'¢ benefil. only to registered charities. DetaiLs of significant activities undertaken in the are published in The Morrisons F¢)undafjon Annual Review, which is available at w*4w.morrisonsfouTrJ8tkin.¢om. Dl8¢losure of Inlom)a¢lon lo tho t￿110￿ The Trustees who held office at Ihe date of apwoval of thK* Tnth8s' reFKvl ￿)n￿rni that. so far as they are awa￿. there is no relevant audit infomatr)n of vthlch The Morrisons Foundation's aud*¢YS are unaware the Trustees have lak6n all th8 steps they ought lo have taken as Trustees to make th￿Se￿￿&S awwe of any relevant audit inforniation. Slgned David Scott. Truslee, on behalf of the Tntslees 22 Jijly 2026 The Morrisons Foundalic repcvt ￿(1 financial statements Re￿I￿ed charity numbers 1160224 & SC045634 Conyny nurthr 09104264 26 Odober 2025 statement of Trustees. responsibllltles The Trustees {￿tt0 are also threclors of The mcrfrls0￿ Fcyjndalknn for the purposes of ccrfnpany law} responsible for preparing the Trust￿, Annual Rep(¥t tkEfmnc4al stalwnents in ￿￿dan￿ wlth applicable law and regulation. Company law requw8s the trustees lo wep8re fman¢ial statements for each ffiancial year. Under that law the trustees have prepared the fmancial slatemertts in &COrdan￿ with United King¢knn Acc(wnting Standards, comprising FRS 102 he Financral Rep￿tIng SlaThJard appknble in thg UK and Repubkc of Ire1￿(r. and ap￿1¢able law (United Kingdom Generally Accepted Accountityj Praclicel. Undw c￿panY law the trustees must apwove the fina￿131 statements unless they are satisfied that they give a true and faw view cl the stste of the affays of Ihe ¢harrtable company and of th8 incoming resources and applicati￿ of resour￿. including the ir￿￿e and exp￿￿J61￿e, of th¢ ch8ritabl8 company for that period. In wepariThJ these fInar￿la7 sta18menls. the trustees are r8quired to.. selgcl sullable accounliThJ wFLies and th8n appty Ihem consistently. observ8 the methods ￿ prirKipks in th8 Ststernent of Rec(¥nmwKled Practice: A￿UntI￿j aThJ RepOrt1￿j by Ch8rrties12019)', make judgments and estimates Ihal are reaxfflable and Exud8nL state whether applicable UK Accl￿nI1ng Standards, ccmnprisiny FRS 102, have t*en fd1oy￿d. S￿11eCt to any material depar1ures disclosed and explained in fInarK1￿ statements: and prepare ￿ financial siatements ￿ the corKem unl8SS it 15 inappropriate to w8sume that the chwitable company wl cffitiNe in business. The Trustees are responsitrle for keepng adequale accounting reccffds that are suftient to sh)w and explain the charitable ¢ompanls transacti￿$ and disdose reasonable accuracy at any lime the financial position of the chariiable company and enatAe them to ensure that the financial statements comply ¥￿th the Ccrfnpanies Act 2006, the Charities and Truslee Inveslmenl Iscollandl Act 2LN)S the Charii*s knounts (Scou￿￿} Regulation5 2006 las amended}. They are also responslble for safeguarding the assets of the charilable cCrfnp￿Y and hence for taking reasonable steps for the prevention and detth of fra￿￿ aThJ Ot￿r ¥regularities. yDav d Scott, Trustee, on behalf of the Trustees 22 July 2026 The Morrisons Foundation Annual report and financial statements Registered charity numbers 1160224 & SC045634 Company number 09104264 26 October 2025 ## **Independent auditors’ report to the Members of The Morrisons Foundation** ## **Report on the audit of the financial statements** ## **Opinion** In our opinion, The Morrisons Foundation financial statements (the “financial statements”): - give a true and fair view of the state of the charitable company’s affairs as at 26 October 2025 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 Accepted Accounting Practice (United Kingdom Accounting Standards, including 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 Report”), which comprise: the balance sheet as at 26 October 2025; the statement of financial activities and cash flow statement for the year then ended and the notes to the financial statements, which include a description of significant accounting policies. ## **Basis for opinion** 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. ## **Conclusions relating to going concern** Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions 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 statements are authorised for issue. 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. However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the 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 sections of this report. ## **Reporting on other information** 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 information. 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 extent otherwise explicitly stated in this report, any form of assurance thereon. 7 The Morrisons Foundation Annual report and financial statements Registered charity numbers 1160224 & SC045634 Company number 09104264 26 October 2025 ## **Independent auditors’ report to the Members and Trustees of The Morrisons Foundation (continued)** In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider 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 an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. 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 nothing to report based on these responsibilities. With respect to the Trustees' Report, we also considered whether the disclosures required by the UK Companies Act 2006 and Charities Act 2011 have been included. Based on our work undertaken in the course of the audit, the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 2006 (as amended) require us also to report certain opinions and matters as described below. ## _**Trustees’ Report**_ In our opinion, based on the work undertaken in the course of the audit the information given in the Trustees’ Report for the period ended 26 October 2025 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements. In addition, in light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Strategic Report and the Trustees’ Report. ## **Responsibilities for the financial statements and the audit** ## _Responsibilities of the trustees for the financial statements_ As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation 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 internal control as they 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 charitable company’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## _Auditors’ responsibilities for the audit of the financial statements_ Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the charitable company we identified that the principal risks of non-compliance with laws and regulations related to charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as 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 evaluated management’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: 8 The Morrisons Foundation Annual report and financial statements Registered charity numbers 1160224 & SC045634 Company number 09104264 26 October 2025 - 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 payment of amounts related to charitable activities; and - Incorporating an element of unpredictability 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 that are not closely related to events and transactions reflected in financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion. A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report. ## _Use of this report_ This report, including the 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 (Scotland) 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 whose hands it may come save where expressly agreed by our prior consent in writing. ## **Other required reporting** Under the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 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 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’ remuneration specified by law are not made; or - the financial statements are not in agreement with the accounting records and returns. We have no exceptions to report arising from this responsibility. ## **Entitlement to exemptions** Under the Companies Act 2006 we are required to report to you if, in our opinion, the trustees were not entitled to take advantage of the small companies exemption from preparing a Strategic Report. We have no exceptions to report arising from this responsibility. Robert Halfpenny (Senior Statutory Auditor) for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Leeds 22 July 2026 9 Tho Morrisons F¢JJnda rèr¢￿ and finartyal siatwnents Rty15tw￿1 numb•rs 1160224 & SC045634 CLsnyany tMmberlYJ104264 26 October 2025 Statement of finan¢lal activities the 52 weekpwnd from 28 Odobw 2024 to 260dobw 2025 Restated $2 wggk 52 week p•rlod gndgd Feric#J ￿ded 26 O¢tolJew 27 Oclober 2025 21r24 In¢Mbln9 r•801K￿• Ir￿* fram saes of tog$- EnGlaM1 Intorn from aothiTrJ Ba*s 731,838 747.(*0 732.526 181705 so0.￿0 ec￿.c￿l) 274,676 126.309 1071,485 202.659 IrKJTh Injm Car F¥thing ffies Tota Incomlry r0•w￿8 2ffj08.554 R•wir¢ts •xp•nd•d Charilabte ar*wi%*s 12.830.147> 13.620.497) {948231 181.073} 11919,4701 {3,701.570) AdTrYni¥trsDw ¢xsts Total r••ouwcg¥ •xp•nd•d Nel'rrw*rt in lurxts 1857.985} 11.093.016) 1.61&384 2,711,4 Bd8rKe b￿U￿t(0￿Mrd at perKxl Baan¢• ￿r￿￿￿ foN•rd at•nd ol p•rkKI 760,￿• 1.618,384 Further dotsils of Testated b8lances ar8 proylded ￿ Note 13. FdlovAng a restalffnent lo rgdassfy balances previrAth r8c4Jgnised as restric￿ fundsto Unrestrf￿ed funds. restriGled funds were nil for both the current year ￿K1 the y88r erThJed 27 Odober 2024. The Morris￿$ Foundati￿ has no reCo￿lsed gaTh or losses cther than the ￿ m￿lement Mi lunds for the wiod. An results derlve from continuing actlvllles. The notes on pages 13 to 17 form part ofthese I￿an￿* statem￿. 10 The MorrIsor￿ Fuuntsuon Annual I•￿rt rwnCi￿ stalements Regiswod rt*rity nurnbw$ 1160224 & SC045634 CKrfnpany nutnber 091042e4 26 October 2025 Balance sheel As at 26 October 2025 Restsled 26 Octob•r2025 27 OctoLpr 2024 Cuwrènt *8s•ts Cgsh at bank a￿1 in Iwd Tradè d•btors 665,218 526.496 1.191.714 1.301,936 761.653 2.063.589 Total ¢urr•nt 48••t8 Cr•dltor•: amaunis fallng OJ• wlthln on• ￿•r 10 1431.31S) 760.399 1445,20S) 1.618.384 Th• fund• of th• Charlty. Totsl eh¥ltyfund¥ 11 760.399 1.618,384 Fwiher detsils of restated balances are provMl8d in Note 13. The financial slalements on pages 10 to 17 apyoved by the Board of Tr￿leeS 22 July 2026 and signed on its behalf by: SIg￿d by DavKI Sc#)tt, Trustee, ￿ behaff of the Truskns 22 July 2026 11 The Morrisons F(NJThJatK)n Anrwo11or*Jt stal8ments Regslered d￿rity numbèrs 1160224 & SC045634 Compa)y numbw 09104264 26 ¢Xober 2025 Cash flow statement lorlhe 52 week period from 28 October2024 to 26 October2025 R•stat8d onded 8rK18d 26 O¢tob•r2025 27 Octcthr 2024 Net hneomlng re￿111¢•￿ {157.9851 11.093.016) Mo¥•m•nt 4): Trdde deblors Cr•dfft)rs 234157 113,8901 {636,7181 237.586 107.110 748,320) N•t ¢osh louffiowylnll¢)w from ¢wratlry actlvll•• {DO¢r•a￿vIncr•a$e in ￿tyh In th• p•rlod Opening at bank and in haTh Closlng cash al bank Jnd in hand {S¥710} 1.301.936 865.218 1748.320) 2,050,256 1.301,936 Further details of reslated balances we rAovid8d in Note 13. 12 The Morrisons Foundation Annval r8FUt arwj finarKial statemen1$ R•Jtst•r•d L*arity rnM))bèts 1160224 & SC045634 Company r•Jmtsgr 09104264 26 Ocknber 2025 Notes to the financial statement5 (fomingpart of the finanrJal slatemenls) for lh8 52 weak p8Aiod from 27 October2024 10 26 Oclob8r2025 1 AcC￿￿tIng poll¢kns The following accounting policies have been akw ¢onsistentty •i dealww ￿ items are cc(¢sSdered matsrial In relation to the financial ststements. Basts olpropratlon The financial 5t8tements have been prepared in &Cord￿ with Accwnting and ReFQrtlng by Charities". Slalemenl of Recommended Pra¢ttr ap￿1¢able 10 Charitss weparirKJ financ￿1 stslemenls in ￿CordanCe with the Finan¢ial Reporting Standard appI￿able in the UK aThJ Republ￿ of Ireland IFRS 1021 {effKtNe 1 January 2019) - (Charities SORP {FRS 1021), the FIna￿la1 Reportkng Standwd applicable in the UK and Republic of Ireland IFRS 1021, the Charities and Trustee Investrnent (SCo￿aTr￿) Act 2005. reg￿li0n 6 of the Charilies Accounts (Scollandl Regulations 20(K% (as amended) and ts c￿PanieS Act 2006. The Mom"sons F[￿r￿18th)n meets the definrtion of a public benefit entity under FRS 102. Assets arnl liabifrti85 a￿ Initially reeognised at hi8torical cost or trartsaction vahje unless otherwise ststed in the relevant accountmg kWicy nL*es. The Trustees have concluded that The M¢yrisons FourKlation has &Jequate resourcas to continue as a gcing concern for the nexl 12 months, aTrJ acc(Kdingly Ihe fnanckl statements have been prepared on a going conc&m basis and on a historical cost basis urKler the &crLo1s corw other than as ststed below. Incomlng r•souir Inceme ts recognised in the period in Wh￿ entill￿ 0￿r$ and ¢an ts measure(I wrth reasonable certalnty. Incom is deferred only when Ttr¢ Morris￿$ Fourbjation has to fulfil cCThJilK￿ before bec#)ming entrtled lo11. Expenditure on charitable *trvtties is ir￿luded ￿ an ac(YLwb basi8 on notification to the relevanl beneficiary. Govemance costs relate to Ih¢)se costs fftCLKred In comth ccthpli8nce vrith Gonslitulh)nal and stalulory requirements and are recowhsed on ￿￿JaI5 basi5. Unyestrlcted funds Unrestrictsd funds represent funds wh￿h are exPerK1ab￿ at the discretion ol Ihe Trustees in furtheranc8 of the objectiV8s of The Morrisons Foundallon. The use of the funds has rvjt b99n restrKled to a particular purr*)se by the don￿ cf their rep￿050ntativ8s. Restricted funds consist of donations. leg￿leS and grants rece￿, for *thich the (*Jnor or grant giver has specified the purposes for which the resources can be ullised. Outging resourc￿ ￿ restrthd funds reflect the appropriate expendliure Ihal has been char9ed lo It¥)s¢ funds. ReStr￿led lund5 ¥e discjosed by prtyramme in the notes to the financial statements. Tax4110ft The Morrisons Foundation is a registered charity, and as such entiued locertaln tsx exemptions on in¢ome and profits frorn investsnents. and surpluses on any trajing aclivities c8rr*d on in furtherancA of The Morrisons Foundation's primary objectives, rf these and surpktses ￿ applied scAetyftr ctharitable purposgs. Cash at bank and In hand Cash al bank an(1 in h￿j fly cash flow pUrk￿e$ incknje cash-inthand. wh•t&nk arKI cash invested in moThgy ma￿ets. Cr8dlto Trade and other credlt(vs are recognised wthere the (*arity has a present obligation resultwig fmm a past event that will probably result in the transfer of f￿￿$ to a Ihir(J paty arbj ￿Tro￿nI due to settle the Obligat￿)n can be measured or eslirnatad r81iably. After six months. Ihe Chwity reserves Ihe rKJht to wrthdraw the payment if payThenls details have not been provKled in this per￿d. 13 Th• Morrisorts F￿jnd8￿oTr ￿￿*re￿¥￿t ￿￿1 finarKial s18lerrents R¢gworfjd ¢h¥ty rwjmbers 1180224 & SC045634 Company numbgr 09104264 28 October 2025 Notes to the flnancial statements (¢ondnued) (ftKmAng part ofthe h'nancial statements) for th& 52 week period from 28 O¢tober 2024 to 26 Octoiw 2025 1 Accountlng pollcl•s (contln(Md) Accrued inc(wne bs i￿lUd￿ at the best estrnate of th8 ancwnts receprnb￿ at th8 ￿ance sl*el date. 2 Incom• from sole of carrler bags- EngL￿d Reslaled 52 wwk p•rfod 52 *k p?ric#J •nd•d ended 20 (letob•r 2025 27 0¢t￿er 2024 Incrrn Sa￿ of bags- ErrfJlaThJ 731,638 747,(￿0 lrtome fr(Kn the sale of bag5 - E￿aThj rewesents w(¢e* cl the sal8 of sir#Ji8 Use caThi8r bags in Mc￿r￿nS onlirt buslness in England. Further detsils of restated balances are in Note 13. 3 Incom• from Clothlng Bonk• Total Totol 26 Octob•r2025 27 October 2024 Inojme Irorn Ch)thlng Banks 396.488 732,526 Irwne from ckjthing banks is repYesente(J by 410 ￿tit￿9 bank ￿al￿S siluated in M¢)rrisons car parf(s and Morrts¢Ms Daily slcns (27 October 2024.. 5¥2 clothing bank locations situaled wi fvkrfrtsons car parks and Mc¥rBons Daily stores). 4 In¢omè fmm Charfty Svatchcards T¢)tsl Total 26 Oclobw 2025 27 Oclcknr 2024 Incc*ne from Charity Sc¥atr*¢ards 168,705 202. This in¢¢ffi8 rewesents commlssbjn eamt {rd of woes) fr(rn ts s* Lrf Mcrfrw charty scratcthards. 5 Incom• from Cor Parklng Fln Total Tolal 26 Octob•r2025 27 Octob•r 2024 Inwne from Car Pthing Fine5 500,000 800.000 Tl¥s irtome feW￿ts a prwlon finés lèvi*J in rela¢K￿ to Mc¥TWlS car parks by third pwbes. 14 The MorrlsorTs Foundalon Annual TeF#)l and financk?I slatèments R8gStw&J charity Mrnbers 1180224 & SC045634 Cth)pony number 09104264 26 Oclobgr 2025 Notes to the financlal statements (contlnu8d) (fom?ing part ofthe finanual statements) lor tho 52 week per￿ from 27 Oclober 2024 to 26 Cktcthr 2025 6 A¢¢•ss Polnt Donatlon Total Octobw2025 27 Cttober 2024 Acce￿ Pcint E*Jnabon 274.676 12fj309 This income rewesents a donalron by m(xrWt￿ cl a r￿Ved thr￿gh certain third party chwity ¢(￿Cess￿￿ agencies t¥)oked ￿10 MorrIsot￿ stLYes. 7 Charltable actlvttl88 I charitable acivities were charitable dcrfptK)ns. Durirrfj the perK*J. The FcwJndatKffl made 61812024.. 8051 donations to charitable causes. The Morrisons FouTrJalKJn made grants of£2.420.689 (27 Ocl(tsr 2024.. £3,317.383). and match fuTrJirwJ donations of £409.958127 Octobgr 2024.. £303.114) in the period. M Mon￿ knwe awarded io insblulw)ns. An oveNew of grant fuThJing for the pervxls eThjW￿ 26 OrActs 2025 arKI 27 Ocl(thr 2024 ar6 d81ailed below: 26 Oetobor 2025 27 Cthbar 2024 T8¢￿ing povety s￿L91 ¢Jwvatk>n 13 E￿h￿￿ing comrnunty spx8s, laeilibès arKI 55 ImprovlThJ heaNh and wllbelng 47 11KI 100 15 The ￿nSOn$ Foundalic and fknanck81 statÈmènis R￿￿tar￿j clkwty numb8rs 1160224 & SC045634 Company ￿rnb￿ 09104264 Ze October 2025 Notes to the financlal statements (contlnu (forming part of the financial statenpents) for Ihe 52 wgek perlcKI from 27 Octcthr 2024 to 26 Octcthr2025 8 Admlnlslratlv• cosls TOL 26 Octob•r2025 Total 27 Octob8r 2024 Other Adrninistrative ￿1$ 98.823 81.073 Admini51ratfve ¢osts fc￿ the Fwiod ￿C￿ded wofessKThl kgal advice, design agency w￿. and olhgr sundry 3m￿l$tratIon fees. None of the Trustees receNed any remurWa1K￿ rx reynt￿￿*￿ent of expenses dLving the peric*J in respe¢t of thelr services ￿ The M¢xrisons Ftyjndali￿. The a￿lt fee is pabj ￿ beh*[ of thg by Wm Morrison Sup8Trnarkets Limi18d. 9 Trnd• doblors R•slated Total 27 O¢t¢tsr 2024 26 O¢iob•r 2025 Tr￿18 debto 526A96 761.653 Further details of restaled balan¢es ale provid8d in Note 13. 10 Credhors: *n¢)unts fal¥ng vAthln one year Tolal Total 26 O¢tob•r X125 27 Octcts 2024 Acuuals and defwred ncom 431.315 445.205 A¢cruals include grant and malch fvndkng (￿milled by Tr M(Yrw Four¥la￿n but Pa￿ at the perk)d 8MI. 11 R•conclllatlon of mov•m•nt• In lund# Rè$tstsd Tot 27 (knber 2024 Tolal 26 Oetob•r 2025 At the WinnlThJ oflhe ￿nc￿l PTlor year ￿lJustMent Rastat•d wiwwJ furkys Ng1 movemènt in lunds in the period At tlL• ènd of the pèrfod 1.fj17221 (08,8371 1.618.384 1857.985) 760.399 2,711.4t)O 2.711.4(*J 11,093,016) 1,618,364 Opening fund balances arKI ¢wiparatN8 mo¥￿ent have been reststed to refiect the ¢wection of a prior year error. Further delails we provided in Nole 13. 16 The Ihyrisorts Foundat Annual rewt and finartial Btstements Rwered (*writy nwnbats 1160224 & SC045634 Company numL*r 09104264 26 Octot*r 2025 12 Relatgd party transacllons There weffj related party tr8nsactkns dLXiW ihe 13 Prlor year r•slat•m•nt The comparative figwes as at 27 O¢td)er 2024 have be￿ ￿ts18d to c(¥rect an the caScuMton of wicome in Ihts prior year. The effect of the adjustment was to decrease )*ar i￿(¥￿e. and th8 ￿ar debtors al 27 October 2024. Thls has been retrospectively corrected. as presented h the Lible befow detaAirYJ the pr￿ary financial slatements.. As tsstaled 2024 )24 Stat•rn•nt of flnandal •¢ll¥lU•* InrA)m? from sabs of carrier bags- Engkqnd Ng1 movement in funds 815.897 11,024.1791 16B.8371 {68M371 747,080 (1,093,016) 8•lance she•t Tradg ￿￿10T5 Totsl chaiAy funds 830.4 1.687.221 (e8.83n 761.653 11.618,384} Cash flow statement Net kncomin9 r•sourts$ vement In.. 11.024.179) 168.83n {1.093.1C*I Tr*1& dgbt 168.749 237,586 17