The TK Maxx and Homesense Foundation Trustees. report and financial statements for the 52 weeks ended 1 February 2025 Registered charity number: 1162073 Company number: 09156201 The TK Maxx and Homesense Foundation Contgnts Trusteès •nd advi88rs Trust88s' r8POrt Independent oudltors. rèpjrtto the rnembers ofThe fK IA8xx and Homesense FtyJThJell)n ststementof financlal a¢Ovltbs Induding th& incoma and 8xwndibj￿ 8exouAt Balan￿ sheet Notes to th8 flnancSal stat•m8nts 10-14 The TK Mam and Homesonse Foundatlon For the 52 wgeks ond8d 1 February 2025 Trustsgs and advlsers Tru$t••$ Rathaal J. Bart)8r Dèborah Dol Maursen Dunn Erlca M. Farr811 Mlehaèl Munnelly Tho TK M8x¥ and HomesÈns¢ Foundation 73 Clarendon Road Watford Hgrtfordshlra Unrtpd Klngd WD17 1TX Indo￿Adent audltors Prl¢ew8t8rhou8eCoop•rs LLP CharteredAccount8nts and StatutoryAudlior8 1 Ernbankmgnt Place London WC2N 6RH Banknys National Westrninst8r 8aThk PIC 49 Blshop5gat8 London EC2N 3AS Gjldrnan saChsAss￿ Management Intèmation81 umtree Court 25 Sho8 Lane LoThlon EC4A4AU JP Morgan Chase Bank 25 Bank Street London E14 5JP R•g18t8rgd ¢hartty numt>er 1162073 Cornpany numbor 09156201 Tho TK Maxx and Home8ense Foundation For thg $2 wogks gnd•d 1 February 2025 Trusto95' report Tho tru¥ta88 pr&sent thelr report and the aUd￿ed finanri81 st8tsment8 of The TK M￿￿ and Home8en8e Foundauon (Yha Chari￿1 for the 52 weeks endod 1 February 2025. The reporung year co￿ts the 52 wogk ygar from 4 February 2024 to 1 Fabruary 2025. The (x)mpar&tive ye8fcov8T8 the 53 weeks end8113 Fei¥uary 2024. The Charity is a prfvate &)mpany lirnit8d by guarantee and Is incorporated and domlL?18d In England and Wales. The Charfty's Company number Is 09156201 and rts regisiered (*artty number is 1162073. The address of Its regis18r8d offico is 73 aaT8ndon Rood. Warford. Hart10￿ShIre, Unlted langdom. WD17 1TX. Tha finandal 8tAtements comply with the Chaiibes Act 2011, the Ccmp8nK8s Act 2006. the MemoraThJurn and Arbdes olAssoaation and A￿Unting and Reporting by ChaAtles.' Statgrnent of Racomm8nd8d Practica ISORPI appli(2ble to Charf￿e$ pr8paring their finandal statèments ￿ 8ccord8nce wlth the Flnanual Reporting Stsndard 8pplicabJ8 in th8 UK and Republic of Ir81and fFRS 102.1 ?ffsclve 1 January 2015. This report has baan prep8rwJ In accordanc8 Vith the special pro￿$10n$ r81ating to small companles wlthln Part 15 ofthe CompanigsAct 20￿ and preparod under Section 1A FRS 102. Th8 Charity has t8kon advantagg oflh8 8xemption from the reqidrementto prepato 8 8tralegic rep Objectivés and activifjes Thè prinapal purpose ol thè Charity is to help vulnerablB chiklr8n. yOWLg people and th￿r farnilias tr> a¢*levo thelr potential in their lorA rx)mmuniti6s. [￿rtng the year, th8 Charlty dld this by offerfng grants of st8ndardised 8mounts of £500. É500 or 2.500zl vla a ccmmunlty fund to 5UPPOrt chariles nominat8d by employ098 auoss Europ8 wlhin the TJX EufopB Umited gTOUP of cx)mp8ni88. In the forthcorning ye8r, the Charity ￿11 aL*iev8 its aims by uullsinu a budget of £685,000 from its Cash resourc95. Th8 Chadty also make5 donabon$ to a rango of local and nadonal ¢hahb"es a(¥055 EuTOP8. The irusts6s have tsken Into COn￿der￿￿on the Charty Commiss6on guidan￿ on publlc b8n8fft. Achlevernents and pèrformanc• During the reporting year, the Charity rnade 1.196 donation5 12024.. 1.678 donalonsl totalling £1.051.00012024= £1.920.0001 to varfcwJ5 thariti&s. Donations Induded £145.IX)O to the Brits'sh R8d Cross. £100,0￿ to The Trv$sell Trust, £80,000 to Tafel D8ulschland E.V. £50,000 to Banki Zywnoso and £25.000 to other Red Cross charities. The Charity also donated £631,000 {8ritish Pound Stefiing èquivalentl io branch05 of loc￿ and Intemational eharities. The ¢hang6 in total donaUons cornpar8d wlth prior years o¥n be Imparted by tha Urning ol fijndno ¢ydes. Incluslon and dlvarnty donations operate on a 2-yèarftJnding wde. Akey indicatorto measur• th8 succass of tho Charity i¥ to malnt*n or gmi donaljons. Flnancial rovlgw As at the bala￿8 sheet date, Iha Charfty had £3,918,000 (2024.. £4.657,0001 of unr•stri(tsd funds ovai18bl8. The Charity8 prirKlpal sourc* offvnding L8 the rt¢èipt of contdtthons from TJX UK. thjring th8 year, th? Charfty rÉceNed £225.00012024: £nill of ￿nIribUtbns. Unrestrlcted fund8 ar& ne•Jod In order frjr the Charlty to b& abl8 to metrt its principal pu￿0$* 85 Sot out In the ectiv85 and 3th1t￿ S8CtM?n and to LY)verany govgmance costs whlth 8hould arise. Tho level ol unrostrictsd fvnds Is monltored and reVI￿*d by the tNstees at trustee rneelng& Th8r• Is no uncertalnty around going toncem, referto note 3 lor *Jrther detalls. The TK Maxx Homosense Foundatlon For the 52 w••kn ond•d 1 Fèbruary 2025 Tru8to0s' report (¢ontlnued) Dlroctovs and trust•os Tho dlrath of thè Charfty are Its trusl898 thè pufp)ses of dwrityjow. Tho tru8tee• in offic* dwlng th? year ond up lo the date of sIg￿ng Ihe finantsal ststamgnts arn shown bek)w'. Rachael J. Barb8r D•borah Dolc• Maur88n Dunn ErtCB M. Ferrel Mlchael Munnel ndd 818tsm￿ts). 3tructur•1 9ov•man¢e and man•g•m•nt s0￿mIng document Tho TK and Homesen$6 Foundotbn, a pfv8ts wmpary Ilmtted by 9uorantg8, gov8m8d by its Mgrnor8ndum and Artidgs of A8sodalk)n, daiod 31 Juty 2014. It wa5 regist•r•d 08 a dwrlty with th8 Charlty COMMIS￿1)tt on 9 June 2015. Tru•t•o8 1$ *lllirg tr¥ art as a trusleo. and h p8nniil*J by law to do so. nwy bg aPF￿nt￿ a tNstea by O￿lfi*ry rosolution or by a deawn ol tru8t¢es. Thè majority ol tru5t88¥ arn #elocted frcrfn Ihe ex•cu¢Ne rnana9ement of TJX UK aThY TJX Ulfs ullm8¢fr p8r8nt c(Mnpany, Thg TJX C￿nI&￿ Inc. Thg trusw may sp￿Int one or rrwJr8 of iheir number to 8ny honorwy offi￿ of th8 Ch*. Ary aPFdntment rnay b8 made uw)n suth twm$ 8$ the tN5tees dotom)i￿. Any appolntmant of a trustea to an horK)rary offic• Shal tsmtsnate that per8ry1 CagB98 to be 8 trustee, unless the tnmieos resofve Othe￿73e. Maureen Dunn and Rad)ao1 J. Bathr act as Independent trustees of tlw Ch&rfty. Tho rolo ol an Independw)t tN8tge 18 to provlde an addhlonal Independent V￿Ge wilhin tru8tee d13UJsslons and as8iSt th& trustees In approprfat•ly m•nAying any actual or perC81V￿ connlcts of Intsr8st In acDJrdonce their duU88 under Englsh arlty law. tortais Chaws prcr*s￿. rtsFthslble for the man&38ment of Ihe Charity8 ￿¥r￿s. for purp)ses Ihey may werc4$0 811 of ihe Ch•nty. At ￿￿te*S. meetiny¥. unlass a quonjm 15 pa￿L¥Pa￿ng. no prw5al IB to ba voted on. exc¢pt a WOP0$81 to call another rneeting. Tho quorum for trust883' rnèeb.ngs may b• fixed from time to Ume by a dotssion ofthe twU8t8￿ buL gan8rdty. it must nworbe thon ono tNrd ofthelr number ortsw, whlchever Is the gre8ter. The truste88 may appolTrt 8 trusteo to chair tholr meettngs and may temiin8te tho chllir's appolnbnènt at any timè. If tho nurnber of vot8s for and agaln$l a prop08al18 8qual. th8 thalr has a sacond or cagtlng voi¢. Tha g•naral rulè 8bJul decis*)n-mthThJ by the truut•o9 Is that any dedslon of the trustses musi be a unanimous dedsion at a meetlng. Th8Artid05 ofAssociaUon al￿ Pr(￿d& for dreJJm8tanc•i whon Is notth? caae. Rl#k manag•m•nt the Ch￿1￿• ewur8 trj rlsks. Th& tn01￿ wo aware of any drUjn$tar￿•l that m#t8rtBlly impact Ihg ChorW• •tsiity to o￿lI￿e to **The TK Maxx and Homesense Foundation 14 For the 52 weeks ended 1 February 2025** ## **Trustees' report (continued)** ## **Statement of trustees' responsibilities** The trustees (who are also directors of The TK Maxx and Homesense Foundation for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulation. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", and applicable law (United Kingdom Generally Accepted Accounting Practice). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities (2019); - make judgments and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Each trustee in office at the date of approval of the Trustees' report confirms that: - a. so far as the trustees are aware, there is no relevant audit information of which the company's auditors are unaware; and - b. they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. On behalf of the Board of trustees Erica M. Farrell Director 23 September 2025 **The TK Maxx and Homesense Foundation For the 52 weeks ended 1 February 2025 1[5 ]** ## _**Independent auditors’ report to the members of The TK Maxx and Homesense Foundation**_ **Report on the audit of the financial statements** ## **Opinion** In our opinion, The TK Maxx and Homesense Foundation’s financial statements (the “financial statements”): - give a true and fair view of the state of the charitable company’s affairs as at 1 February 2025 and of its incoming resources and application of resources, including its income and expenditure, for the 52 weeks 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 We have audited the financial statements, included within the Trustees’ report and financial Statements (the “Annual Report”), which comprise: the Balance sheet as at 1 February 2025; the Statement of financial activities including the income and expenditure account 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 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 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. 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 requires us also to report certain opinions and matters as described below. **The TK Maxx and Homesense Foundation For the 52 weeks ended 1 February 2025 1[6]** ## _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 52 weeks ended 1 February 2025 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements. 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 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 (who are also the directors of the charitable company for the purposes of company law) 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 and its industry/environment, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011 and we considered the extent to which noncompliance 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. 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 by the engagement team included: - Discussions with management, including consideration of any known or suspected instances of non-compliance with laws and regulations and fraud; - Identifying and testing journal entries to address the risk of misappropriation of assets referred to above; - Designing audit procedures to incorporate unpredictability over the nature, timing, and extent of our testing; - Reviewing minutes of meetings of those charged with governance; and - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 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 company’s members as a body in accordance with 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. **The TK Maxx and Homesense Foundation For the 52 weeks ended 1 February 2025 1[7]** ## **Other required reporting** ## **Companies Act 2006 exception reporting** Under the Companies Act 2006 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: prepare financial statements in accordance with the small companies’ regime; take advantage of the small companies’ exemption in preparing the Trustees’ Annual Report; and take advantage of the small companies exemption from preparing a Strategic Report. We have no exceptions to report arising from this responsibility. Claire Turner (Senior Statutory Auditor) for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors London 23 September 2025 The TK Maxx and Hom￿On$¢ Foundatlon For th9 52 woeks ended 1 February 2025 Statemont of financlal a¢tlvltles Including the incomo and expendlture account 2025 2024 £'ooo £'ooo Ineom• from: DOna￿on8 Inv&stmènt Income 13 Totsl Expandlture Charltable actmtles 10. 11 14 {1.205) {241 (2,0461 Olhereypense5 Totol {161 11.2291 (739) 11,7191 11,7191 Not movement In fvnds R•eoncjl￿tlon otlunds: Funds brought IowdTd Funds forward 4.657 6.376 3.918 4,657 I Ino)mo and expenditure adtwtiès are relatèd to unrestricted fijnds dwive fI￿n continuing operations. The Charity ha5 no recogni58d gains and losses induded in the results above, therefore no separate ¥lat8m8nt of tecognlsed gains and losses ha5 been presented. The reporting yg8T ￿verS the 52 week year from 4 Fèbruary 2024 to 1 February 2025. Thg ￿mParat￿o year cov•ts th• 53 w88ks 8fLded 3 February 2024. Thg notos on pag•s 10 to 14 form an integr81 part ol the ffin8nd81 ststements. The TK Maxx and Homesense Foundatlon For th• 52 w••k¥ ènded 1 February 2025 Balance sheet No¢9 at1 February 2025 £'ooo As at 3 February 2024 Non cvrr•nt •M•ts Intangible Assets 15 36 29 Totsl non curr•nt assets 36 Current As88t$ Cash at bank and in hand 4,695 6,033 Debto 16 Total current assats 4,703 6.041 Llabllltl•s Creditor5- due bwthin one year Net curr•nt •ss•ts 17 18211 11,4131 3,882 4.628 Totsl as￿1¥ l•ss curr•nt Il•blllll•$ 1918 4,657 N¢t assets 3,918 4,657 The funds of th• Charlty Unrestricted lund5 3.918 4,657 Total charlty fvnd$ 3.918 4,657 Th8 notes on pages 10 to 14 form an integral part of th8 financial stat￿18n1$. The financial statem8nts on pages 8 to 14 w•ra approvgd by the Board of dir8Ctors on 23 September 2025 and arg signed on rts behaK by.. Erica M. For￿11 DIr￿t0￿ Tha TK Maxx and Hom•s8ll88 Foundatlon Re9iStered nurnber.. 09156201 The TK Maxx and Horne5ense Foundatlon Forthe 52 weeks endpd 1 Fobruary 2025 10 Notes to the financlal statements General inforn￿tIon Th8 prinupal pwpose ol tha Charfty is to help vulnerable chlldreni young people and their fanulies tts achi8V8 thoir pot8ntial in their local ￿nmUnIt￿e$. The Charity is a privat6 company limited by guardnte8 and is incorporated and domicaled in England and Wales. The address of its registered offic* is 73 Clarendon Road, Watf¢xd, Hertfordshlr8, Unitad Kwdom, WD17 1TX. Stst•m•nt ol Compllance Thg fmancial ¥fatemonts of the Charfty havg been prapar8d In &LY)Tdanca ￿th th8 Charities Act 2011. th9 Companles Act 2006. th8 Statem8nt of Recommended Pr8cllce, 'A￿UnIrTh9 and Reporting by Charitig5: statement of Recommended Practice- publlsh8d In October 2019 and the Financial R8porbng Standard applieable in Ihe United ￿ngdorn ond RepuNi¢ of [￿land CFRS 102,1 •ffoL*v8 1 January 2015. These finana $taiem8nts o)vèr tha (rorn th8 date of4 February 2024 to 1 February 2025. Summary of slgnifi¢ant accountlng pollcles The prfmpal acctwntin9 policies applled Sn the prepèralon of th8s8 financial stat8rn8nts are set out bebw. These poIIci8s have boan eonsistently applbd to all th&years presented. unless othemse stat6d. 8a81s of pl•par￿￿n The Charity is a public ￿nefit enfjty. Th• finawal $tstements are prepar8d on 8 golng eoncem basls 8nd under th8 hlstorfcal CLJSt convenuon. The use of the g￿n9 conc8m basis of accoundng Is appropriate as there ar8 no matsrihl urtcertainties related to evgnts or that may Casl significant doubt about th8 ability of the Ch8rty to ￿ntInufr as a golng corwn. The Charity takan thè cash tlow ￿MptiOn for small •ntiti85 in acLYJrdanc8 ￿1h Section IAof FRS 102. bl Donatlon$ Ineorning donations a￿ reeognised In th8 5t8t8rnent of finanu818Ctivlles and IncL)me arKI expgndthr8 accolmt than the Charity ha8 uncondltional enfjllement to th• rasourc8S. Charitabk acti￿18$ con8iSt of govem8ne6 costs 8nd donations to charibes. DonaJons to thariti05 ar8 recogni5ed n donation5 becorne commliied through tnjstee 8pprov81. Grft Lxrds arè I[￿ballY recognlsed as assets and 8rg rgCQgnised as a dona15on In the InLY)m& and expenditUTe account Ythgn tsBnsferred to thg i*arfty To¢el￿ng tha grft card. Inv•stment Incom• Inv8stm8nt income o)nslsts of intar85t inccffl8 8am8d on cash deposlts and Is rO￿g￿lS0¢y as int8T8St 1$ awugd. dl Cash Ca¥h 8t bank and In hand consists of held at barths In th• fom of on-damand deFx)s1ts and an Inv6stsn8nt a(tount. Funds Th8 r8serve$ policy so￿5 b ¢n8urg Ihat the¥e Is adequat• fun¢lng 8UPPQrttf th8 Charjty and vnrgsIrtc￿ funds ora avallable for use at Ihe discretion of th8 trustees in furtheranc4 01 th• eharitabl8 obj8ctivas ol the Charfty and unplanned actMti85. The TK Maxx and Homesense Foundatlon For the 52 weeks ended 1 February 2025 11 Notes to the flnancial statements (Gonllnued) Summary of sIgn1fl￿rtt accounting policios (contlnufjd) Llabllltl•s L￿￿litieS are recognlsed as soon 05 th8re is a legal or constr￿lIve otligation o)mmltUThJ th8 Charfty to pay out resources. Intanglblo Bssets Intangib￿ fixgd assots ara r8POrt•l at wst of 8quSsltion less &mortL88tion by straight4ine method. The east of Intanglbla r￿ed assets Is their purchas8 Cost. togethgrwlth any Indd8ntal cos15 of acquIs￿]C￿. morti5aUon Is ca￿lIated so as to wrfte off th8 0)st ol Intanglble ffixed 8s58ts ¢)V8r the axpectsd useful ecrjnomlc Ilves of the 8$$8ts ￿}ncerned. Amorlisation is pro￿lded on addilons offoct from tho first day of the month following commlssii)ning and on disposals up to tha 8rtd of th8 n*Jnth of Owners￿P. The ￿Tr￿PaI annual rate8 used for thls purpose are: Softwarg: 3 years h) N•w and rowl8￿ a￿oUnt[n9 standards noty8t adopted In March 2024, the Rnan&d Rewting Coundl 18suod rts'P•ri¢yJic Rèview 2024. wngndmonts to FRS 102. The amendments focus on uPda￿ng aLxounlng rèquirgments to reflect clwiges in IFRS Ac¢xJuntlng S¢andard5, PÈTbcularfy wlth ￿pact to revenue and leases, and Ma￿n9 Other Incremental Improvern8nts and clarfff￿t1On& The amand￿￿nts are appllcable for periods beglnnSng on or 0ft8r 1 January 2026. èarfy 8pplicaUon pemitted. Th$ Cornpany does not expect trgse arrendrnenis to havè o rnalgrial irnpact on Its financL41 stat8mants. Taxatlon Tha Chority is a reglstor8d charity and as sueh is $nti118d to cgrtaln tsx exgmpuons on In￿rne frorn Investments, and profits and su@USes on any tradlng 8ctiwb86 pro￿ding thesè ar8 carried on In furtherancè of th8 Charikls primary objethes and Ihese profits and 5urplu5e5 ar8 ?pplled solely lor thBrftabl8 purposes. Legal Stat￿ of the Charlty The Charity 15 8 private company limlt8d ty guarantee wlthoui share Ca￿ts1 and Is & regSstered tharity IEn9iand and Wales). Rolatsd party dlsclosuro Tha main r81ated party to th8 Charfty Is TJX UK, a privat8 unllmltgd company incorporated in England And Wal•s. bthl¢h operate5 the r8talling acfvitle8 af TK Maxx','Homesen$e' and'TKMaxx.¢om' in the UK. TJX UK Is a rdatod party as the Charity'5 officers are secondèe5 from TJX UK pursuant to 8 sacondm8nt 8greemerrt. During th8 year, the Charfty pahl TJX UK £85.000 {2024: £104,000) rÈlAting to the Charfty5 offiLErs' prior year salari95. As at 1 F8bru8ry 2025 th8r8 is a balance payabl8 to TJX UK 01£106,00012024.. £85.0001 tts th8 Charity8 offKern' rrent y8ar 8alarfes. TJX UK also provldes the Charity servicés In ￿Lation to IT. 18g818nd accounting. a5 well 98 thè use of office space. for no consKl8ratS0n. In Ihe uJrr** year. fundlng of £225,000 was re￿￿ed from TJX UK. No fvndhg wa5 T￿e1Ved d￿n9 tho prior The non.Indepandent Injstees arè 581ec*&l from exei#JUve m8nagem?nt of TJX UK ond Th8 TJX Compani85, IK. a company Inwrporat8d In Delawarg, Ur￿ted Statss ofhmerfca. The TK Maxx and Homesensg Foundatlon For the 52 wooks endod 1 FebNary 2025 12 N¢Jtes to the flnanclal statements (contlnued) Trustses. emoluments None of thg trustees racelY8d 8moluments or Inc#Jrrod expenses wlul$t hjlfilling thelr 4Yules as tTh￿tee5 of the Charity12024.' none). Deborah Dolc8 and Michael Munnelly recei￿ 8rn01umenfs In thelr capaclty as offic&rs of TJX UK Erfca M. Farrell I￿￿e5 8molumgnts In her capaeAty os an offi¢èr of The TJX compan￿$, Ino Thair reswtiv8 r8muneraUon is includEd in th8 flnanclal $tatemenls ofTJX UK andTha TJX Companies, Inc. Ra¢ha•l J. Barb8r and M8UTeen Dunn have not and will Th)t T￿e1Ve emoluments for seThices ay trust88s of tha Charfty. Employee Infomiatlon At 1 February 2025 th8 Charity had ¢hre8 wnpioya8s {2024: tsvtsl. AJJ staff costs are Inlllally bom6 ty TJX UK aTrJ harg￿ to the Charity gt an ayreed rats. Donations r8cglvod 2025 2024 £'ooo £'oc Cash donations from TJX UK 225 225 10 Donatl¢ns to charftles 2025 2024 £'ooo rooo Cagh donatio Donauons I grants to local chari1188 Donations I grants to national th*iti8s 85$ 196 1.724 1.051 Durfng th? year, tho Charlty mada 1.Ig6 (k)natlons {2024= 1.678 do￿tIonS) to(aJlng £1.O51,C￿0 12024: £1,920,000} to various tharltles. DonaJons Induded £145,000 12024.. £285,000) to Ihe 8rilsh Red Cross. £100,00012024.' £nill to Th8 Trussell TrusL £80.00012024: £nlll to Tafd Deutschland E.V, £50.00012024.. £nlll to Banki z￿n0$d and £25,000 12024.. £25.000) to other Rad Cross charitles. The Charlty also donatod £631,000 {2024'. £1.424.0001 IBritish Pound Sterflng ￿U￿al￿tI to brènL*95 01 local and International th8ritses. The change in lotsl donations compared wth prior years can be Impa¢#ed by the timing of fun(fing cyd8s. Indv5ion and d￿ersity donatlons oporatg on a 2-y88T fundiny cyde. 11 Gov•rnanca costs 2025 £'ooo 2024 roco Charty offit•rs' remunw8bon A￿lItorS, remunwaY¢)n 106 27 Lègal expensas 19 14 154 126 The TK Maxx and Homosense Foundatlon For tho 52 weeks ended 1 February 2025 13 Notes to the flnan¢lal statements (continued) 12 staff costs and employee ben8fits 2025 eooo 2024 £'oc() Salari8$ 85 Socsal 88CJJTity Employer8 eontrtsuuon to d8fin8d eontrfbulon pon￿1￿ schwnas Otherfo￿6 ofemployee beneffits 11 106 No 12024.. none) officer5 of thè Charity rec8iV8d total employe8 r8rnun8ration within the band of £60.000 to £70.000. Total stsff ry)sts and employee benaffits amount to £108,IYJO12024.' £91,0￿> ofvknlch 2%12024'. 7%) Is Paid as a Gift in lfjnd by TJX UK. 13 Invesim•nt Income 2025 2024 £'ooo £'ooo Inlergst In*xJrne 265 265 14 Olher •xp•nses 2025 2024 £'ooo £'ooo ￿l￿tiSation 19 15 Bank charges 16 15 Intanglblo assets rooo Cost As 8t 3 February 2024 Addibons 45 26 As al 1 F•bru?ry 2025 A¢¢umulatsd amort18atk 71 As at 3 February 2024 Charge tor the year A* Bt 1 February 2025 Net book valu• as at l February 2025 Net book value 85 at 3 Febwuary 2024 1161 1191 1351 36 29 Th8 TK Maxx and Homesonse Foundatlon For tho 52 woeks endad l Febwary 202S 14 Notes to the flnan¢lal stalèmonts (continued) 16 Debtors 2025 2￿24 £'ooo £'o Trad8 d8btor5 17 Crndltor8- amounts falllng due wlthln on¢ year 2025 2024 £'ooo Grant er8ditor8 1.298 115 Trade tredlto 138 1,413 Grant cr8ditor¥ rèlat8 to committèd donatK)ns whth hovè not yet been pald. 18 Llablllty of membgrs thè Charity is limit8d by guaranteè, th8 liabillty of each member L8 limli ad to £1. This being thè amount that each mgmbgr undertakes to contrfbute to the ass8t8 of the Charfty In ¢ha 9¥8nt of its b81n9 wound up whllst being mernber orwlhin one year aftgr c8asing to ba 8 ￿￿rnber.