2023-12-27-accounts

Registered charity number 1163560 in England & Wales and SC046098 for Scotland KFC FOUNDATION REPORT & FINANCIAL STATEMENTS PERIOD ENDED 24th DECEMBER 2023

KFC FOUNDATION Contents Period from 26 December 2022 to 24 December 2023 CONTENTS PAGE oftricers and PrOfe￿10n￿l Advisors Statement from Chair of Trustee5 Trustees, Report Independent Auditor's Report 15 Statement of Finaneial Actiiqties 19 Statement of Financial Position 20 Statement of Cash Flows 21 Notes to the Financial Statements 22

KFC FOUNDATION Officers and Professional Advlsors Period from 26 December 2022 to 24 December 2023 al & Foundation Information Trnstees Daniel Mark Carr Simnn Coates Jonathan Davies Jame% Net¢her (Chairl Nichola Newman Clara Widdison Michael Williams Secretary Louise Norris (Foundation Manager) Registered Offic£ Orion Gate, Guildford Rodd, Woking, GU22 7NJ Functiond] Team Thalia Beaty (Foundation Administrator) Louise NO￿lS (Foundation Mandgerl Hanndh SimTnon5 (Finance & Piojects Executive) lulian Thomas (Gift Aid SeciEtiary- re5igiied 4 May 20231 Advisors Principal Bankers National Westminstei Bank PLC 23 BrunswiLk Pl(ILe Brunswick Gate S015 2AQ Soliciiors BDB Piimans 50 Broddway London SWIHUBL Audiior Buzzacott LLP 130 Wood Sireei London EC2V 6DL

KFC FOUNDATION Slatemenl from our Chair of Trustees Period from 26 December 2022 to 24 December 2023 Thc KFC Foundation has a mis%ion ta cmpowcr young pcaplc acro%% the UK ta cn%urc thcy have thc ehancc io fulfil theiT Potential at]d build a positive future. Through the exceptional work and support of KFC teain members, the it]credible generosity of our cominunities, and the inspirational work of our partner organisations who provide spaces that allow young people lo feel safe and secure. helping thein to ut]lock their talent, build life ski115, provide Inenlorit]g, OT iinprove their chances lo gain meaningful employinei)t, we have been able lo help support thousands of voung people across the UK. It is vital to recogni5e and pay tTibute to all KFC Foundation'5 partner organisations who are continuing to battle with the cost-of-living crisis dnd the mounting pressures that this brings about in ￿1] dspects of their work. Despite these pressures (Ind in the face of inundated services. oui P(lrtner organisalions Continue tts (idapt to their ever- Lhan¥in¥ environments, takin¥ everythin¥ in their stiide, and we ale in (Iwe of theii peiseveranLe to piovide for theii service users. Team members working in KFC restauiants and head ol'fices acioss the UK have continued to work above and beytsnd thrtsugh whai has been a tough year lor many. Despite the challenges, there are many individuals and teams who have championed the Foundation. Their pride and passiL)n is unmatLhed and their hard work enables the Fuundation lo Lonlinue suppurting inspilatiunal 01¥anib￿lIionS around the UK. We are $0 grateful 10 be supponed by gener(>us donors - the vasi majority, bui by na means exclusively, being KFC Customers. They have donaied so generously to support young people who hai'e had a tough siart 10 life. Your kindness makes such a difference 10 Ihem- Ihank you. Tn that end, it is my pleasure io %hare another %ucces%ful year; raising £1.3m and dnnating £212.830 in cnmmunity granLS 10 87 organisations. These organisaiions work for Ihe benefit of the community, creaiing a LX)siiive impaci and working with tireless diligence and professionalism. Through these organisation8, Ihe KFC Foundaiion enables suppoff for young people living in ihe toughest circumsiances. providing px)sitive aciivities in which Ihey can takc part. mcnknring for thc most vulncrablc, and in many ca%c% thc ehancc ta Inakc .%tcp.% into cmplayincnt. educatinn, training, nr volunteering. And. perhap% m()%t pnignantly, in yet anather challenging year tackling si)me of ihe mosi basic human needs such as food security and shelier. KFC Faujidation takes seriou%ly it% role in the wider charity %ectar and ha% committed to a%8ist with capacity building for our partner charities and other organi8ations who share our vi%ion for young people. By definition, our partners are smdl charitie% whose %taff volunteers are expected to wear niultiple hat% in the delivery of their important work. As such ive Iiosted our second Wiiigin, It workshop. briiiging together colleagues from acr05S the sectOT for a professional and personal developTnent day at the KFC head office- attendees shaTed their own expeIiences as well as benefiting from our expert speakers. We were delighted by the positive feedback received from attendees and we look forwaTd to sirnilar future events. In 2023, we concluded our phenomenal p￿rtnershIP with Coinic Relief which represented a coiitTibution of £3.5million over four years. Our work with Coinic Relief funded several organisations dcross the UK that provide safe social spaces, n)entoring, and work and social skills. W'e would like to extend our gratitiide to the team for their partnership and we look fo￿ard to cheering them on as they continue their extraordinary work. The conclusion of the partnership with Comic Relief gave the Trustees and Foundaiion team time to consider the Sira￿gi¢ direction ol. the Foundaiion and we have ambitions to directly deliver some bervices to young people alongside our Lommuniiy grant-making programme. Alier conduciing extenbive researLh, we decided to begin Ihis work in Middlebbrough an area ol. the UK facing multiple indices deprivation. We partnered wilh local youth organisaiion. Linx Youth Project, and hired a prolessional chel'10 deliver Big Boro Big Eais during Summer 2023. Over the course of six weeks, young people lollowed a programme to increase their Lonlidence in cooking

KFC FOUNDATION Slatemenl from our Chair of Trustees Period from 26 December 2022 to 24 December 2023 and ihcirundcrstanding of what makc% a balanccd mcal. dclivercd by our Chcf and Youth Worker. Ovcr the caur%c of thc Suinmcr, 105 young pcnplc participatcd in Ihc pr()grammc and 750 Incmbcrs af thc community including food bank u.%cr%, Pnlicc Cammunity SuppKJrt Officcr% and thc young pcoplc'% familic% enjoycd a Big Boro Big Eats meal, buildit]g stroi)ger community coniiections and bringing people togetheT. With the expeTience of this programTne fillnly under our belt and the relationships we have built in the community, the FoundatiOTI 15 iii a position to transitioii into a delivery partner, and we aim to open up our own youth hub in Middlesbrough in 2024. While we embaTk on thi5 new direction, we aTe committing to the contit]ued expansion of our Coinmunily Grants Programine to keep pace with e£onomic developments at]d grant-making trends, and we encourage all those eligible to answer our call% for applications. As we look fo￿V￿d lo an exciting 2024 for the KFC FOUnd￿tiOn, I register my sincere thanks to the teains, individuals. and KFC franLhisees that have enabled the Found£ilion to Lontinue making an impact. It is my pleasure to extend my Ih<inks to oui Tiustees who deliwei st£ibility and expertise that has enabled the Found(Ilion to move forward into thi5 exLiting new phase. As ever, the Ihanks ol. all of the trustees goes to our amazing Foundaiion Manager, Louise Notris. Louise works inciedibly hard 10 ensure that the Foundation Lontinues io delivei loi its service userb and her diive has meant that we have lantastiL working relationships wilh oui partner charities, and. in turn. we make a difleience to the lives ot $0 many young people across Ihe couniry. Similarly. our Foundaiion Adminisiraior, Thalia Beaty, who SUPLX)ffS Louise in delivering on the charity's objectives has transformed how we manage our grani making sysTrm and chariiy sector capacily-building programme, helping us every day 10 be a more inclusive grani maker. In 2023, we were able io bring Hannah Simmons inio the role of Projects and Finance Execuiive for ihe Foundation full lime af￿r moving over from KFC where she worked on ihe Foundarion pari lime. While Hannah coniinues to develop the Foundation's finances, she is also leading on the role of Project Manager for the opening of our first youth hub. Thank you to everyone who has been involved with the KFC Foundation in 2023; we have been inspired by the work of our teams, communities, and partner organisations and are excited 10 be eniering a new phase of ￿en[UrIng into delivery services. fldcAer James Fletcher Chair of Trustees

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 Trustee5' Re ort Thc Tru%ices prcscnt thcir Annual Rctxjrt and Account% for ihc pcri(Kl endcd 24 Dcccjnbcr 2023. In prcparing thi% report and accounts the Trustees have complied M'itli the Charitie5 Act 2011. the Foundation'5 Coiistitution and Accounting and Reporting by Charities.. Statenient of Re£ommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The KFC Follndation i% regi%tered with the Charity Commi%%ion in England and Wale% (number 116356n) and the OSCR in Scotland Iiiiimber SC046Q981. Legal and other information relating to the Foundation set out above list% the Trustees and principal advi%or% of the Foundation and form% part of thi.% report. Structure Governance & Mana ement anisatitsnal Stiucture The Foundation is con%tituted as a Charitable Incorporated Organisation and, therefore is governed by a Con%titution and has no share capital. Govcrnance All Trusiees narned on page 3 served rhrough ihe peri(Ki. The Trus￿e$ have been chosen for rheir ¢ommercial, ¢ommuniiy, lived experience and chariiable expertise, as well as iheir ¢ommitmeni io ihe aims and philosophy of Ihe Foundaiion. The Foundation is organised so that the Trustees meet quarterly to manage the Foundation's affairs. Trustees and new Trustees aW￿e of their duties to fuiiher the putposes of the Fouiiddliun, lo ensure Ih<lt the Fuund<ltion diiies out its Putpobes foi the public benefit (Ind to dLt in the best interests of the FOund￿lti0￿ by enbuTing Ihdt resuurLES are responbibly m£indged. The Trustees dle senivr le(IdeTS in KenluLky Fried ChiLken (Gre(Il Btitdin) Limited {"KFC"), from the FrdnLhisee Lominunity dnd externdls with Lhdlitdble expeiienLe dnd thub hdve the <)ppiiJpfi£ile skillb dnd dili¥enLe to be dLtin¥ <lS Trustees of the Founddtion. New Trustees are appointed for a term of three years and, in accordance with the Foundatiori'5 Constitution, are provided with a copy of the cuirent version of the Constitution and a copy of the Fouiidatioii's latest Tru5tees' Annual Report and statement of account5 upon appointment. as well a5 a copy of the Chaiity Cominis510tI'5 'E55ential Trustee" ¥uidaiice aiid ofleied the opportunity to complete a TTU5tee training course. Mana ement The key management personnel of Ihe Foundation comprise the Trustees and Louise Norris. in charge of direciing and conirolling, running and 0￿ratIng ihe chariiy. The day-io-day operation of Ihe Foundaiion is carried oui primarily by Louise Norris, Thalia Beaiy and Hannah Simmonb, all of whom are contracted 10 KFC land as such I'ollow Ihe remuneration wliLy in place lor Ihe company) and whose salaiies are recharged ￿ Ihe Foundaiion. Given thai Iheie is a crosb-charge I'tsi these employees, any significani salary increase would be pre-agreed with the Foundation trusiees. Since 2022 only 55 /0 of Louise's salary costs are cross ¢harged io Ihe Foundation as a result ot her managing projects for Ihe KFC brand in addiiion io managing the Foundation. Louise's role Foundation Mai)ager ¢￿t￿l11S the strdteuic diieLlion of the Founddlion other (￿PectS of iunning the Foundation including regulation and compliance. Thalia manages the giant making proLess including our

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 partncrship% with grantccs and communieatians for thc Foundation. Hannah wa% prcviau%ly cmploycd by KFC with appn)ximalcly I day a wcck of hcr iimc being giftcd to thc Foundation to managc Financcs. Hannah ha incc jnincd thc Foundation full iimc, cxpanding thc Follndation for more financial complcxity, and managing thc project plan for nur youth hub. Oiher employees of KFC provide iheir lime and expertise 10 ihe Foundation where necessary, in accordance wilh our service agreemeni. including social niedia, markeiing, digithl iechnology, legal and developmeni. We are al80 graieful 10 Ihe many KFC employees who volunieer w help wilh our grani shorilisring. Ob ectives & ActiTrities The principdl objects for wliich the FOund￿tIon estdblished ￿re such charitdble putposes for the public benefit <)b (Ire exclusively chaiitable ￿¢￿[dIng to the laws of En¥land and W(Iles as the Trustees may I'iom lime to lime deterniine with a paiticular emphasis on advancing in life and relievin¥ the needs of young people. A sllmmary of the activitie% that the Foundation has ca]Yied out in pur%uance of its prit]cipa] objectives can found below. Mission & Visinn The KFC Fnundaiinn vision ]% to create a world in which every yaung per%on is empnwered tn challenge the baiiiers 10 aspiration and fulfil their potential to become leaders of the future. And our mission is to ¢mpuwer young ￿Ople in Ihe UK io fulfil Iheir ￿)Ien11a] and build a positive future by providing spaces Ihar allow young people lo feel safe and seLuie, helping them to unl(Kk talent, build life skills. piovide inentoi.ing and improve their chances 10 gain meaningful employmenr. Both have been inspired by the tounder ot KFC. Colonel Sanders. One of the way.% we do thi% is by inaking .%mall grant% to organisation% around the UK that are, in Inany cases, supporting the most vulnerable young people in iheircommunities. They share our passion tor empowering young people to help thein reach their full potential. Through its community grant programme, the Foundation was able to bupport nunierous projeLtS ￿l￿d young people in 2023. The Founddlion is dlso venturin¥ inlv seiviLe delivery. 111 2024. we plan to piovide Sdfe SP(ILe5 and eTnploy youth wnrkers in our very ynuth huh in Middlesbrallgh following the succes.s of Big Bora Big Eats in ihe.Summer uf 2023 wheie yiJun¥ peuple folluwed d pro¥rdmme to inLiease their LiJnfiJenLe iii Lwkin¥ dnd their undersranding of whai makes a balanced meal all whilsi feeding Ihe local ¢omrnuniiy. Our community granis programme and ambitions for service delivery align strongly with the KFC business values, expertise and team member and guest demographics. Achievements & Performance Hnw ave ort in 2023 Our total net incnme in 2022-2023 was= £1,333,131. Thi% was made up of.. Countertop donation boxes.. £102,￿4

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 Product danation%.' £974,407 Kin%k donaiinn%.' £21 R,R52 Ad donaiion.%'. £37,228 How we used the mone ou ave in 2023 The Follndation made grants to the following chaTities in the arnounts Set out below (expressed as a percentage of the tothl sum raised during 2022-23}'. 2022- 2023 2021- 2022 Amount Donated Pereentage Amount Donated Pereentage Charity Name #nd Charity Number Granis £3.0(K) and under £219,130 £194,753 Comic Relief {3265658 & SC039730) £389,813 29.3% £1,181,470 80.6%

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 What we did in 2Q23 Rcbrand In 2023, the Foundation went through a rebrand, changing our woiking name Irom the KFC Foundaiion to the KFC Youth Fouiidation to establi%h our newly rtfined identity. We made the change to offer clarity to benefiLiaTies, ¥uebts dnd teams the purwse of the Fuund(Ition. With uur new ima¥e. the Foundation also Lieated a ncw wcbsitc aftcr prcviou%ly working with a wcbpagc from KFC'S wcbsitc. Growin awareness In October, the Foundation attended the Franchise Awards and raised £5,(kl2. Following Ihe successful rebrand of the Foundaiion, we saw increasing growih in engagemeni from our ieam member% through %everai fundrai%ing activities like %elling festive cards which were de%igned by young people from our partner organibations, our teams purchased gil'ts from our Giving Tree which were delivered io four partner organi%atian% over the Christma% perind and %everal team menibers and nne of ourTru%tee%, Sinion Coate%, paitiLIP£iied in the London to Brighton Lycle in September. We were also able to bring several team members to meet partner organi%ation% over the period to %how then) who the fllnd.% rai.%ed for the Follndation are %llpporting. Communit Grant Makin We are exLeedingly proud ol. our Community Grant Making Programme, not only for the impact that it is having on the young beneficiarieb ol" Ihe organisations that we suppori but also of our ability 10 remain agile in our approaLh to continually evolve and improve our proLesses for our applicants and to ensure the voices of our beneficiaries are represenied in deciding how granis are speni. '1 reulli like thi5 Jiiiidiii¥ prv¥rain }'vung peoplf 5 1'Liices are at the hearl of what iou dv & yvu fn511re their needs are heard and re5pec'led.-'_ Anonymous feedback To thai end we made further change$ 10 our granr rnaking process in 202110 mainiain our ambiiion io be a modern and relevani grani maker.. We moved toward a flexible I"unding approach. Supporting organisations to be able io use lunding lor the Foundation's priority groups to address Ihe challenges Ihai young people are facing. We albo began donaiing £1￿ io many organisations who were unsuccesslul in the second siage ol the piocesb in order io recognise ihe lime they speni on iheir applicaiion. Wtt increased our grani award Irom £2.￿0 to £2,500 10 remain in line with inflaiion. We iniroduced an addiiional £51KJ in funding io three organisaiions wilh ihe highesi shortlisting scores v0￿d for by ihe KFC Teams. We continued to take on board feedback from our grantees by introducin% £l()O payment to orEanisations supporting the shortlisting with their young people, io recogni%e the value of their time and lived experience. 'Th£ pro%ramin£ is £xc£llent and th£flexibility OM use of the is really helpful as Rranis will only rover Vcfr). Specific things Fvhich can make it diffirult. It has rhonged mi. pcrccption of KFC and wc are Encredibl}' ra¢8fvl 05 you M'ere an eL7rly 5upporler ofour scheme andivhat Me hadsEt out to uchieve. We are extreTnely proud of the impact th￿1 the Foundation is making acTO55 the UK with its partner organisations.

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 In thc prcviaus 12 months the Foundation ha%.%upportcd.. Young people aged 11-25 years old Th￿￿ in a position of cconainic disadvantagc Organi%ation% which cmpowcr young pcaplc to fllifil thcir potcntial and build a prJ%itivc futurc Organisation% with an annual incomc nf no mnrc than £3(X),OnO, opcrating in thc hcan of our cnmjnunitics 752 Grant Applications Reccivcd 243 Applicatians pragrcsscd to Stagc 2 87 Grant% Paid £212,830 paid out Kid5 on Track enables children in Andover with liinited financial and adveTse childhood expeTiences to overcome barrieTS lo success such as low self-este£Tn, lack of resiliet]ce and limited aspiratioi)s. Their aiin is that all local children no matter what their background, have the same opportunity lo succeed. They achieve thi5 by providii)g <)n eiiriLhment piogidTnine whiLh inLludes hvlid(iy Llubs, dfteisLhiJul Llubs, tIiPS dnd visits. They <ilsiJ provide meiiloring which gives the younu people the piogiamme <1 widei perspeLlive of the wurld. suppoI15 Ihetn to iTnpiove theii mentdl hedlth dnd wellbeing <ind gives them the twls dnd strdlegies to suLLeed <lt SLhuol. The Founddlion hds been woiking with Kids vn Ti£iLk for beve[￿11 yedrs now, providing multiple urants lu their urg(Inisdlions, they have been lending us theii expeitise on uui decisiun m<iking Panel for Dui gi(IntS PTugT(Imme and they have also atiended out Wingin. li Workshops. "l uoluully think3you du uxreuljub uFidhavingbLcn both a rLLipiLpil upidparl ufall asse55ing leum, and benefiited from the IrL7inill£ J'ou or£aNised, l really developipig our relat10115hip. Issues arisin for our anners Our move towards Ilexible I'unding has been heavily inlluenced by conversations wiih, and leedback I"rom. our partner organisations who are under growing ex￿rnal pressures and need to use their I'unding with agility. We have been made aware of issues arising that our partners are l'acing from the negative impaci ol. soLial media influencers, like Andrew Tate, who has been convicted of multiple offences against ￿Qmen. Andrew Tate's ¢onieni has been affeciing young people around the UK and. in particular. young men wiihoui a sirong male role model in Iheir lives. wilh his coniroversial views of misogyny and this has led 10 an increase of violence against women. Our partner organisaiions have highlighied rhe financial impaci Ihis is having on ihem, wilh an increase in demand for Iheir services as Ihey aiiempt 10 iackle the devasiaiing impa¢1 influencers like Ihis are having on young men and women. Comic Relief Partnershi In 2Q23, we conclllded ollr panner%hip with Comic Relief, having rai.%ed £3.5 millian over four year%. Our work with Camic Relief funded %everal organi%ation% acrass the UK thai provide %afe .%ocial .%pace%, mentaring, and work and social ski115. Organisatioiis such as Sireetlife it) Blackpool. StTeetlife helps, Tnentors, coaches and advocate5 for homeless youiig ￿Ople in the local community to make a stable home and find their feet so they can think about their fulllre and take steps toward5 It. I ve been with Streetli/8 Since Novcinber 2021 L7nd hLTre prekty much been with the projecl everv d￿,.fOr the past yearj Ke build bonds bertveenpeople and cvgry'onc gels lo kno}* each othgr, so it's sopneihifr7g I'm really gralefvl io

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 ffjv I hEll￿e thal ifmnpé peL7ple.fpnke LTruÈ tsbi)ut theiv a¥peYience what ihéy've through. it w¢)tild help trtakg it éa.*iérfor QEherpéople. Kaitlyn, 19, Strceilifc bcncficiary Service Delivery As the partt]ership with Comic Relief drew lo a close the Foundatiot] Team and Trllslees began to ftKus time on the future of the Foundation. It was decided that we would like to move lowatds becoming a service delivery orgat]isation ratheT than solely providing finaiicial 5UPPOrt. After speaking to many existing parli)ers, considerii)g the needs of young people in the current landscape and what that inight look like for the Foundatioii we have <)greed thdt youth hubs is where we would like Iv seive. SinLe 2010 yuuth setViLes 5uLh (15 youth Llubs dnd youth wiJrke15 have been cut by 69%, £1 billion decline in funding by IoLdl <iuihoiilieb dLross Engl(Ind <ind Wdles. Mole Ihdn 4,51J) yijuth work jobs h<iwe been cul diid 750 youth Lenties closed. The reduLlionb in IoL£il yuuth pivvision £ire linked to Tise in Leil<iin types vf Lrime dnd anti- SOLl<il behdVlOUI, inLluding inLiedbeb lu the numEEriJf children who £ire Cdulioiied ijr sentenced dnd the proportiun of young people who reotlend. Al'ter much research into deprivation across the UK. youth unemploymeni, children in need sthtistic etc. li was decided that we would Iocub on delivering programmes in Middlesbrough which I'eaiures in the top ten of nearly every Indice Of Muliiple Deprivation. In the Summer 01" 2023. the Foundation parinered with Linx and a trained chef 10 deliver a six-week programme io young people, over the summer holidays. The young people tsking part developed their skills in Cooking and healihy eaiing while making and providing meals 10 750 members of ihe ¢ommuniiy. We look ihe opportuniiy while we were in Middlesbrough 10 develop relaiions wilh stskeholders in the coniinuniiy including ihe ¢oun¢il, Teeside Universiiy and other youth and community organisaiions, Ihe Foundaiion aims io move inw service delivery by opening up youih hubs and employing youih workers, sthrting wilh a youih hub in Middlesbrough in 2024. Win ill. It Worksho In September, Ive ran our second Wingin, It Workshop. bringing together leaders in the third se¢ior for a full day of buildiiig knowhow. sh￿rIng best prdctices ￿nd c￿e￿iling networks at the KFC Hedd Office in Woking. In 2022, our workshops were pui online due to ihe deaih of Her Majesty, Queen Elizabeth 11 and train strikes. While we received d hugely positive response fiurn vur partners, Ivho for some, wouldn't have been able to attend in person due io being based all around Ihe UK, li was feli Ihat we missed out on some in person conne¢iions. We weTe juined by 13 representdtives of ¥Tdssrwts orgdlli5dtions around the UK foi a brillidnl day of workshop5 in Septeniber with a range of workshops from; our Chair of Trustees,, James Fletcher, who held a roundtable discussion about lived experience and youth voice in charity decision-Tnaking: Founder of fundraising ¢onsulran¢y, Lai¢h, Lynda Harwood-compion who held a workshop on deepening relaiionships wilh donors; Kru%h Makwaiia, Busine%% Psychologi%t at Totem, who ran a work%hop on leading conversations with %takeholders with impact and intluence; James Porter and James Kavanagh from communications agency. Freuds, lead a conveTsation on how to use digital media to tell your story; at]d Dave Jone5 joined us from Heartstyles to deliver an in1r￿]U¢LlOn on Ihe lour piincipleb which drive our behaviour and ihe impaci Ihis can have on us and oui ieams. We were al%0 joined by in%pirational keynote ￿Peaker, Debra Nelson, who.%hared her experience% growing up and the support she received frijm youth Ol¥dnibdtion. Football Beyund Bvrders. We arc lotjking forward to growing thc work%hop% into 2024 with a ncw location, a rangc of amazing %pcakcr acrtsss ihe sector and more al￿ndees. "I loi'ed Ihe du),, thought it ivos u gréai opportunit}Tr to meét nther.f 111 thé s£cioY.f and b£ Yemifrtded É)f vvhv we do what ￿'e do. li

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 '1 leftfeeling rechurged und exc'iled to get buck and coiitinue workiiig hard in the charity sector "Ii (4 reull) l(pvely utpnvJphYre, ei'eryune wuJtrri¥ndly und veTI' ¥n¥uged. V¥ry illSPiTIFI¥ yTViiP ul'peuple. 'Thaiik yviifurufu4tuitic' duv. AFpwziiig guetst JpeukeTJ thai I huve leurNt u Ivtfrom. Publie Btnelit The Trustees confimi that they have referred to the guidance set oui in the Charity Commission's general guidance on public benefit wl)en reviewing the Foundation's aims and objectives. The benefits are Llearly set out in the Achievements & Perforniance section above. The Trustees review the Foundation's aciiviiies against its aims and objectives on an ongoing basis and are satisfied that all activities continue to be related to the Foundation's purpose. The beneficianes are vulnerable young people. primarily from deprived backgrounds who are ai risk ot dropping our of educaiion. becoming involved in gangs, lack a stable role model, are siruggling 10 tind employment and are likely to continue Ihe Cycle of poverty. The chariiies we make granis 10 seek to mitigaie against Ihese by providing sate spaces, mentoring, counselling. iraining and education. Financial Review Statement of Finan¢ia] ActisTrties The Fnundatinn is operated nn a cash basis. The Fi)undaiinn pay.% grants to its charity partners once li h&$ received sllfficient %uJns into iLs hank account, thu.s ensuring that the Foundation does noi go into deficit. The principal funding.snurces during Ihe financial period were as follows.. Cnunieriap donation boxes18%} Pmduct cnntrihutian173*1 Kin%k donatinns {16qo) Ad donations13%1 A55et5 The only a%set% that the Foundation hold% are cash and cash equivalents (including receivables), there are no funds held as a custodidll Ituslee on behalf of dny others. Investments The FOund￿tIon does not hold any investments and only ke£ps money in its Natwest bank account. Reserves The Foulldaiion's reserves are continually reviewed considering latest forecasis io ensure the Foundaiioll can cover c()iii, c()mmitied grani8 and dnnatinn%. The %tatemeni of finartLial positinn %hi)w8 1()tal fund% of £1,-394,-397 12022 £853.8301 all of which are uniestTicled funds 12022 £676.2621. We consider our free reseTves to COllSiSi of our 12

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 unreiricted funds. Ther¢ ar¢ no ￿5tTI¢l¢d funds whiLh wuuld not be available fvr the general PUTpvses vf th¢ Lharity 12022 £177,568). The free reserve8 held at period end have incre&8ed due to the Comic Relief p￿rtlle￿hlp coming to art end and pmduct contributions being switched over io the Foundation from November 2022. With this iii Inilld, and, after considerinn the national impaLI of cut% 10 yollih %ervice8, the Foundation team and Trll%tee% have made plan% io expand the Foundation's seTvices to include the opening of youth Iiubs and employinent of youth woikets. Whilst we conrinue 10 5UPPOrt our chaniy panners via Ihe current grants progrLiin, Ihe Foundation is also considenng how we can grow our grants PIO¥ldmTne into multi-yelir fun(liiig whilst buildin¥ slionger relationships with OUT PdrtneTS dn(1 sUPPUrtin¥ their need5 for longer term strategy. Risk Mana ement The Trnstees have considered the major gavernance, aperatian, financial, external, coinpliance and safeguarding risks, which the Foundation laLes. and we have pr￿eSSeS in plaLe to ensure that those risks are regularly ieviewed and miiigaiing sieps tsken as necessary. The risk% that would have the highe%t impact to the operation of the Foundation are a decrea%e in income (either IIS d iesult of having one PTinLiple funder vr fivTn the piessure of hi¥h stre£t Sdlesl, the reputational risk Liedled by KFC'S franchise model, our inability to Separa￿ funds, the conflict of interest of the KFC leadership ￿aM sittin¥ on the Buaid of Trusteeb and the financial sustainability uf operdtin¥ yuuih hubs and the ernplijyment vf youih workers. We are. miiigaiing a decrease in income by exploring other fundraising avenues which are less reliant on a donor'5 physical presence in KFC restaurants, we are closely nionitoring and forecasting incoTne levels and adapting ourexpendiiure in accordance and we are mainthining close communicaiion wilh all panners Ipallner orgat]isations and fTanchisees) to manage expectations about cominilmenls. In tellns of Separation of fuiids this is something we monitor very closely; we are able 10 track and report on donations made in every resiaurani and we have strict deadlines in place for recovering funds and processes in place 10 ensure Ihe iimely payment of Founddliun invoiLes. With re¥{￿dS to Sdfe¥uaTdin¥, the FOund￿lti0￿ ensures robust Sdfegu£irdin¥ prdctiLes dnd policies are in place and appropriaie background checks are completed on all people coming into contact with young people. Fundraisin Polie The Foundation's approach to fundraisin8 IS to predominantly use the relationship wilh KFC, its ctnployccs and gucsts Iv Tai5¢ funds. thr<)ugh the sale vf pr(KluLl vr fundraising activities. We du n(It Out street fundrdising, nvr we Undert￿{C tundraising mail shois or Iclcphonc callvassing. Wc work with KFC 10 cnsurc thai any tundrL￿lsillg complics with bell prdLli¢e. Fundr<iising IS Tn(Initored by the Trustees uf the Foundatiun ¢tnd we alsu Tn(Initvr any fundraising coniplainis lllone were received during Ihe period 20221231 and we always seek lo protect the public, including vulnerable pe()ple, from unrea%onably intru8ive or per%i%teni fundrai8ing approaches ()r undue pre%sure t() di)nate. The Foundation is not bound by any i'oliiniary scheme for regulaiillg fiind-raising, or any voluniary standard ot tund-raisillg. Produci coniribuiions are eharged to KFC and its tranchisees tor all sharing buckets sold. All franchisees operate under 4 fr<inchi%e <igreernent with KFC (ind <ire required to Sell ¢ore nienu item% in theii restaurants. It has been agi¢e(I between KFC and the franchisees that a donation 15 given to the Foundation of 5p for every 5hariiig bucket sold. Under the terms ot"Ihe tranchise agreement, KFC ha8 cenain nghts Jf debt% are due to either KFC or other %upplier%lpariner%. The Fi)undaii()n ha% direct acce88 10 the rewrting 8y%iem% of KFC, which provide the data for %haring bucket 8ale%, cusloiner kiosk donaiioiis. cu5tornei" donations via the KFC web511e and App and the amounts banked fTOm counrertop donaiion boxes. The countenop dollaiions are monitored by Ihe Foundaiion io make sure Ihat all restauranis b￿king their donation% trom customer%, and KFC and Ils franchi%ees are ch&%ed up regularly 10 ensure thi8 is hL2ppenJng. 13

KFC FOUNDATION Trustees. Report Period from 26 December 2022 to 24 December 2023 Statement of trustees res onsibilitie5 The tiustees ale iesponsible I'or preparing the trustees, report and accounts in accordance with applicable law and United Kingdom Accouniing Standards (United Kingdnm Generally Accepted Accnunting Praciicel. The law applicable tts chaiities in England and Wales iequires the trnstees to prepare acLounts ftsi each financial period which give a true and fair view of the State of affairs of the charity and of the income and expenditure of the lh￿tY for that period. In prep￿ng the dCCOUTits the tTuslees ale requiTed to.. seleci suiiable accounting policies and Ihen apply ihem consisienily., Libseive the tneihods and principles uf ALLUUilting (Ind Reportin¥ by Ch<lTilies'. Sidtemenl ijf ReLommended Practice applicable to charitie% preparing their accounts in accordance with the Finat]cial Reporting Standard applicable in the United Kingdom Republic of Ireland IFRS 102}', make judgements and estimates that are reabonable and piudent., state whether applicable United Kiiigdoin Accounting SLqndard% have been followed, subject to any material dcparture% disclosed and explained in the aecnunts; and • prepare (he accounts on the going concein basib unless li is inappropriate to presume that the charily will continue in operation. The trustees dre iespunsible for keeping proper accounting ieLoids which discllise with redsondble dccuraLy at any time the financial positinn nf the charity and which enable Iheni io ensure that ihe accnunis comply with the ChaTities Act 2011, <ippIiLdble Lharily IAcLounts dnd Repuils) Re¥ul(Ilions, dnd the ptovisivns uf the Itusi deed. They are also responsible for safeguarding ihe asseis ot ihe chariiy and hence for iaking reasonable sieps for the prevention and detection of frdud ￿nd other itregularities. Provision of information to auditor So tar as each Trustee is aware.. there is nLI relevant audit infomiation of which the Foundation's auditL)r is unaware; and the TTUSteeb hdve tdken (Ill bteps thdt they ought tu h<lVe l<iken to m<ike theinselveb dwdie of dny Televdnt dudit infvTmdtivn <ind Iv ebtdblish thdl the duditor is dwdie of th()t infomidlion. roval This report was approved by the Trustees on . Aug 23 2024 and signed on its behalf. fldcAer Chair of Trusrees For funher informaiion coniwi.. KFC FOUNDATION Orion Ga￿. Guildford Road. Woking, GU22 14

KFC FOUNDATION Independent auditor's report to the trusiees of KFC Foundatlon Period from 26 December 2022 to 24 December 2023 Opinion We have aiidited the financial statements of KFC Foundgtion {the '¢harity') for the perii)d ended 24 December 20?3 which comprise the siaiemeni ol. financial activities, Ihe ￿[d￿ment ol I'inancial posilion, Ihe siaiemeni tsr cash flows and the notes to the financial statements, including the accountit]g policies. The financial reporting framcwork that ha% bccn applicd in thcir prcparation is applieablc law and Uniicd Kingdom Accounting Standard%, including Financial Reporting Siandard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accountinu Practice). In allr opinion, the financial %tatemenLs'. + give a true and fair view of the state of the charity's affairs as at 24 December 2023 and of its income and expendiiure tor the period Ihen ended., * have been properly piepaied in aLctsidanLe with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance wilh Ihe requirements of the Chariiies Aci 2011, Ihe Chariiies and Trusiee InvestTnent {sLOt]￿dI Act 2￿5 and iegulation 8 of the ch￿tleS Accounts (Scotlandl Regulations 2ffl6. Basis for opinion We coiiducled our audit in accoidance with International Standard5 on Auditing {UKI IISAS IUKI) and applicable la￿.. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements seLtion of our report. We ale in(kpendent of the charity in acLtsrdanLe with the ethical iequirement5 that are relevant to our audit of the financial statement5 in the UK, including the FRC'S Ethical Standard, and we have fulfilled aur aiher ethical re%pnn%ibilities in accnrdance with the%e requirements. We believe that the dudil evidence we have obtdined is suffiLient dnd dppiupfidte tv provide d bdSiS for our opinion. Conclusions relating to going concern In auditing the financial %tatemenis. we have concluded that the Trustees, use of the going concern basis of accouniing in Ihe preparation of the tinancial s(aiemen(s is appropriate. Based on Ihe work we have pertomied, we have not ideniified any maierial uncerthinties relaiing io evenis or Conditions that, individually or collectively, niay cast significant doubt on the ¢harity'5 ability to Continue as a going ¢on¢ern for a period of at least twelve monihs from when the financial sratements are authorised for issue. Our responsibilities and the responsibilities of the Trusiees with respect ro going concem are described in the relevani sections of ihis report. Other informi)tion The other infoTmation coinprises the inforination included in the report and financial stateinents, including the trnstees, report, other than the financial statements and our auditor's report thereon. The Trn%tee% are re%pon8ible for the other informaiion. Our opinion on the I'inancial s(atemenis does noi cover Ihe other inforniation and we do not expre55 any foTm of assurance conclusion thereon. Our responsibility is to read the other infoTmdtion and, in doing 50, consider whether the other information is materially incnnsi%tent with the financial %tatements ar our knowledge nhiained in the eour%e nf the alldit or 15

KFC FOUNDATION Independent auditor's report to the trusiees of KFC Foundatlon Period from 26 December 2022 to 24 December 2023 othenvise app&grs to be materially missrated. If we identify .sueh maierial incon.sistencies or apparent material misstatements, we are required 10 determine wheiher ihis gives rise to a ma￿rIal missiaiemeni in ihe tinancial stdlements themselves. If, based Un the work we hdve perfoitned, we conclude th￿t theTe i5 d mllterial misstdternetjt of thi% othcr inforniation, wc arc rcquircd ta rcpon that fact. We have nothing io report in Ihis regard. Matters on which we are required to report by exception In Ihe light ot the knowledge and undersianding of Ihe charity and its environment obiained in the course ot the k)udit, we l)ave not identified inaterial mi5Statement5 In the trustees, report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Reglllaiion$ 2(X)8 and ihe Charities Accounts (Scotlandl Regulaiion$ 2(X)6 requires us to repoff to you il, in our opinitsn.. the infoTmation given in the Trustee5' annual report is inconsistent in any material respect with the financial stateTneiits', or suffi¢ieni and proper accouniing records have noi been kepi; or the finanLl<il stdtemenls dre not in d¥reeTnent with the dLLounlin¥ reLvTds and return5; ur we have not received all the inforn]ation and explanation% we require for ollr audit. RespoDsibilities of Tnlstees As explained more fully in the Statement of Trustees, Responsibilirie.s set out on page 14. rhe Trusrees are responsible for the prep￿ratIon of the financial statements and for being satisfied that they give a true dnd fair view, and for %uch internal eantrol a% the Tru%iee% determine is nece%%ary to enable the preparation af fJnancia] siatemenis thai are I'iee from ma￿rial misstatement. whethei due to fraud or errol. In preparing Ihe financial Sta￿MentS, the Trustees are responsible for assessing the charity's ability to continue as a going conceTn, disclosit]g, as applicable, Tnalters related to going concern and using the going concern basis of accounting unle%8 the T￿￿tee$ eithcr intend to liquidate the charity or to cease operation.%, or have llo reali.%tic aliernative bui io do so. Auditor's responsibilities for the audit of the financial statements We have been ￿p￿Inted as auditor undei section 1441145 for d lower incoine Ch￿ty] of the ch￿l'ltieS Act 2011 and %ectian 4411 l(cl of the Charitie% and Tru%tee Investment (Scotlandl Aci 2tX15 and repon in accordance with those Acts and relevani regulaiions made or having el.fect theieundei. Oui objeLiives ale 10 obtain ieasonable assuiance about whether Ihe linanLial statements as a whole are I"iee Irom Inaterial misstateinent, whether due to fraud or error, and to issue an aiiditor's report that includes our opinion. Re&%onable a%%urance is a high level of as%urance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a maierial misstatement when li exisis. Missiatemenis can arise from fraud or e]ror dnd ￿re considered niatei'idl if, indi1.1du￿1IY or in the aggiegdte. they could redsonably be expected to influence the economic decisions of u.sers tsken on the basis of these financi&l statements. Irregularities, including fraud, are instance.% of non-campliance with laws and regulations. We design pr()cedures 16

KFC FOUNDATION Independent auditor's report to the trusiees of KFC Foundatlon Period from 26 December 2022 to 24 December 2023 in line with our responsibilities. outlined above, to detect material mis.statements in resFe¢i of irregulariiies, including fraud. The exteni to which our procedures are capable of de￿¢tIng irregularities, including fraud is detdiled below.. In identifying and assessing the Tisks of material misstateinent in respect of irregularities including fraud and non- compliance wilh laws and regulaiions, our procedures included ihe following.. • We obiained an understanding of ihe legal and regulaiory frameworks applicable to Ihe chariiy. We deteimined that the following laws and ie¥ulations were most significant.. Chaiities Act 2011, the Chaiilies and Trustee Investinent (Scotlandl Act 2005 and reglllaiion 8 of the Charities Accounts (Scotlandl Regulaiions 21X)6. • We understood how the charity is complying wilh these legal and regUla￿ry frameworks by making enquiries to Trustees and those responsible for legal and compliance procedllres. Through ollr enqlliries we corroboraied Ihese views by our review of Trusiees, minutes. • We assessed the susceptibility of the charity's financial siatements to material missiatemeni. including how fraud might occur. Audit procedures perforined by the audit te￿M included.. Enquirie% with management, whether they have any knowledge of any actual, suspected or alleged fraud; Challenging assumpiions and judgements made by Trustees and managemeni in iheir significant accounting eslirndles. Identifying and testing journal entries. Asse.ssing the extent of compliance wilh the relevant laws and regulations as part of our procedures. As a resuli of our procedures we did noi identify any key audir mai￿r8 relating to irregulariiies. There are inherent limitations in oui audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing %tandard% also limit the audit procedure.% required to identify non-cojnpliance with law% and regulation 10 enquiry of the TNsiees and other managemeni and the inspeciion of regulatory and legal correspondence, if any. MaleTial misstateTnents that ￿lse due to frdud can be hardeT to detect than those that ￿lSe frotn etTor they may involve deliberate eoneealmeni or collusion. A furiher descripiion of our responsibilities for the audil of the financial siaternenis is locaied on Ihe Financial Reporting Council's website ai ww.w.frc.org.uklauditorsresponsibilities. This description foms part of our auditor's report. 17

KFC FOUNDATION Independent auditor's report to the trusiees of KFC Foundatlon Period from 26 December 2022 to 24 December 2023 Use of our report This report is made solely to the chariry's Trustees. as a body, in accordance with Paff 4 of Ihe Chariiies (Accounis <)nd Repoi15) Regul￿1110nS 2008 dnd Re¥ul<ltiun 10 uf the Chdiilies ALcounlb ISLoildnd) Re¥uldlion5 2006. Our audit work lias been uiidertaken so that we mi¥lit state to tl)e charity's T[￿ste£S those ￿￿tter5 we are required to slate to them in an auditor's rery)n and for no other purpose. To ihe fullesi exient periniited by law, we do not <)Lcept 01 assume responsibility to anyone other than the chaiity and the charity's Tiustees as a b￿]y. foi oui £iudit work, for this report, or for the opinion% we have formed. Bu￿a¢011 LLP Statutory Auditor 130 Wood Sircci London EC2V 6DL 09 September 2024 Buzzacoii LLP is eligible to act as an auditor in ternis ol" section 1212 01" the Companies Act 2006 18

KFC FOUNDATION Staiement of Flnanclal Actlvlties Period from 26 December 2022 to 24 December 2023 Period frnm 26 Dec 2022 t(Tr 24 Dec 2Q23 Period frnm 27 Dec 2021 to 25 Dec 2022 Notes Unrestrieted funds Restrieted funds Total Unrestrieted funds funds Restrieted funds. Total funds Income from l)onations Countertop Taking Product Contriblltion Kiosk Dondtion Oiher Donaiions Total Income 102,644 775,294 218,852 24.(W6 1,12U,886 102,644 974,407 218,852 105,645 93,635 184,042 105,645 1,015,508 254,368 90.916 1.466.437 199,113 921,873 70,326 212,245 1,333.131 438,819 1,027,018 Expenditure OD Charitable Activitie5 t)onations 10 Chariiy Other Charitable Activities Suppori Cosis Total Expenditure 1225.4501 {17,6AOI 1159,6611 1402,7511 {.389,8131 {61.5,2631 117,6401 {1.59,6611 {792.5641 1194,7.531 11,181,470) (1,-376,2231 11.34,6971 (134,6971 1329.4501 11,181,470) (1,5109201 {.389,8131 Net Movement in Fund5 718,135 {177,5681 540A67 109,369 1153,8521 (44,483) Reeoneiiiation of Funds: Fund b<ildllL¢5 at 25 DeLembei 2022 676,262 177,568 53.83V -566,893 331,420 8Y¥J13 Fund balanc¢s at 24 December 2023 1,394,397 1,394J97 676,262 177,568 t153J13V There were no recognised gain.s or losses in the Current or preceding peri￿.$ other ihan those disclosed in the siatemeni of financial activities. The notes on pages 22-27 form part of ihese financial siatemenis. 19

KFC FOUNDATION Staiement of Flnanclal Positlon At 24 December 2023 24 Dec 2023 25 Dec 2022 Nutes Current Assets Cash ai bank and in hand Debtors A¢¢rued Income 731,718 186,216 203,627 ,417.985 917.934 Liabilitie5 CiediloTS fdlling due within one year Net As5et5 {23.5881 l J94,397 (64.104) 853,830 Funds: Restricted Fund5 Unrestricted General Fund 177,568 670.262 ¥53.t130 1,194.397 I J94,397 The financial statetneiit5 where approved and authori5ed for issue by the Board of fru5tees on and signed on its behalf.. Aug 23 2024 rtdrAtr The notes on pages 22-27 form pari ot ihese financial siatemenrs. 20

KFC FOUNDATION Statement of Cash Flows Period from 26 December 2022 to 24 December 2023 Periijd frnm 26 PeTiod fiDm 27 Dec 2022 th 24 Dec 2021 to 25 Dec 2023 Dec 2022 Note5 Net cash provided by operating actI￿tieS Change in cash and cash equivalents in the period 479,(X)3 479,093 115,724 115,724 Cash at start of the period Cash ai end of ihtt period 731,718 12lv.tlii 615,994 731.718 No separate reLonciliation of nei debi has been prepared as there is no difference between the nei cash of ihe Foundation and the above cash and cash equiwalents. The notes on pages 22-27 The lollowing accounting policies form part of these linancial smtements. 21

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 Accounting Policies The following ac¢ouniing policies have been applied consisienily in dealing wilh iTrms Ihat are considered maierial in relaiion to the financial stsiemenLS'. Basis of Preparation of financial statements KFC Faundation is a Charitable Incorporatcd Organisation rcgi%tcrcd with thc Charity Commis%ion in England and Walc% Inumbcr 1163560) and with OSCR in Scntland Inumbcr SC046a981. Thcsc financial %tatcmcnLs havc bccn prcparcd for thc period frnm 26 Dcccjnbcr 2022 to 24 Dcccinbcr 2023 with camparative information given in re%peet to the period from 27 Decejnber 2021 to 25 December 2022. The fit]ancial statements have been prepared in accordance with Accounting at]d Reporting by Charities.. Statement of Recominet]ded Practice applicable to charities preparing their accounts in accordance with the Fin￿nCid] Reporting Standard dppIiLable in the United Kingdom RepubliL of Ireland IFRS 102) (Ch￿rItIeS SORP FRS 102). the Fin￿li¢1￿] Replirting StandaTd dppliLable in the UK Republic of lie1￿nd IFRS 102) ￿nd the Charities Act 2011. The financidl statements hdve been prep￿red under the histOTiLdl cost convention. The KFC Foundation is a public benefit eniity. The financial s[a￿Men[S are presented in sierling and are rounded w the nearesi pound. Critical accounting estimates and areas of judgernent Other than the &ssessment nf going cnncern below, the preparation of the financial statements did not require the TnIs￿e.$ to make any significant judgements or estimaies. Fund accountin Re.%tricted fund% are those to be u%ed in accordance with specific in%trnction% impo%ed by donor% or have been rai%ed by the charity for specific purpnses. Income recognition Income is reco£nised when the charity ha% entitlenienl to the funds, any performance condition% attached to the income have been met, it is probable that the income will be received at]d the amount can be measured reliably. Donated service5 and facilities DOn￿led professional services and dondled f￿C1[it1tS dre recogni5ed income when the ch￿rItY has control over the iteTn, conditions associated with the dondted item have been met, the receiptof ecoiioniic benefit frorn Ilie use by the Ch￿ilY of the item is probable ￿nd thdl economic benefit Cdll be medsured reliably. In accordance with Charities SORP (FRS 1021, the general volunteer lime of KFC staff is not recognised. Expenditure reeo%nition Liabilities ale reLognised as expendilure as soon as iheie is a legal tsr consiruciive obligation commilling the charily io ihai expendiluie, it is probable ihai Ihe seiilemeni will be required and ihe amouni ol.the obligaiion can be measured reliably. All expendilure ib accOun￿d for on an accruals babis. Expenditure comprises grants payable as part L)f the Foundation's charitable activities. as well as adminls1rati￿e Losts pertaining io Ihe chariiy and ils grani-making. Granis payable are inLluded in Ihe s(atement of tinancial activities when approved and when the iniended recipient has either received the funds or been intormed of Ihe decision 10 make Ihe donation and has saiisfied all related conditions. 22

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 Accounting Policies (continued) F.xpenditure recognition (continued) Grani8 approved bui noi paid at ihe end of the financial peri(Kl are accrued for. Granis where the beneficiary has noi been infonned or has io meei ¢enain condiiions before Ihe grani is released are noi accrued for bui are noted as financial ¢ommitmenis in ihe noies to the financial siaiemenis. All granis are made 10 insiitulions and thc namc% af thc charitics Ihai rcceived granL% during thc ￿riOd are detailed in the Trnstees, report. Govcrnancc cost% campri.%c the costs involving thc public accountability nf the charity and cost% in rc%pcct to it% cnmplianee with regulation and gond practice (including audit co.%t%, bank charges and eansultant fee%1. Cash at bank and in hand Cash at bank and in haiid includes cash in hand and cash held in the bank cllrrent account. Debtors Debtors aTe Tecognised at the settlement amount, less any provision for non-recoverability. Creditors Crediiors are recognised when the chariiy has a preseni obligation resulting from a past event that will probably result in (he transfer ol" funds to a third pany and amount due io settle the obligation can be measured or estimated reliably. Financial instruments The KFC Foundaiion only has financial asseis and tinancial liabiliiies of a kind ihat qualify &s basic financial insiruments. Financial instruments are iniiially recognised ai transaciion value and subsequently measured ai rheir seiilemeni value. Going concern The Trustees have reviewed the financial position ol. Ihe Foundation and LonLluded that ihere are no maierial uncertainties related to tvent% or condition% that niay ca%t significant doubt on the ability of the charity to piepaie these fIn￿lTILl￿[ statements on a ¥uin¥ LonLetn basis. The Trustees die uf the vpiniun that the charity will havc %ufficicni rcsaurccs io mect it% liabilitic% as ihcy fall duc. The financial sthtemen(s do not include any adjusiments that would result from this basis ol" preparaiion being inappropriate. Related party transactions and Tru3t¢es' expenses and remuneration The Truste£s all give freely of their time ￿nd expertise without any fotm of [eMuner￿tion or othei benefit in Ld5h vr kind. Durin¥ the pei"iod, there were expenses of £181 reimbursed tu 3 trustees12022.. £2361 ￿nd these were in relatiun lo tr￿Ve1 for Iiustee tneetings (plu5 inembeiship tu the AssoLiation of ChdiTS for Jame5 FletLher). During the perilxl the FLiunddtiL)n reLeived dondtions frorn 2 trustee512022.. 0} tolalling £1,070 (2022.. £0) During the period the Foundation re£eived £5,836 (2022.. £5,535) and had debtors OUtstandit]g at peTiod end of £746 12021.. £7521 for The W005aa Chicken Co Ltd which 15 owiied by one of the KFC Foundation Trustees. This represents revenue froin Product Contributions, Counteilop Donations and Kiosk Donations. There are no other related party transactions that reqllire disclosure in the financial 5taternents. 23

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 Income Income has been splii inio donarions by KFC and its franchisees as follows- 26 Dec 2022 to 24 Dec 2023 Total Unrestricied Res1ric￿d KFC- product contribution Franchi%ce% of KFC - product contribution KFC cnuniertop donatians Franchi%ce% af KFC - eountcrtap donations KFC- kio%k donaiinn% Franchisees of KFC - kiosk donatlOllS Other donations Pennies for change 59,644 715,650 9,191 93,453 11,427 207,425 23,229 867 1.120.8R6 15,643 183,470 75287 899,12 9,191 93,453 11,427 207,425 36?61 867 1,333,131 13,132 212,245 27Dec 2021 25 De¢ 2022 Unresiri¢ied Re.siri¢ied KFC- pTodH¢i ¢i)rtfribtsrio Frurt¢hiseÉs i)f KFC- produci ¢ortirihuiio KFC LoiifrtiÉYtop (tsnaiions Frafrtchi.iee.f i)f KFC- countertop donariÉ)ns KFC- kio.sk Frurt¢hiseÉs i)f KFC- kio.sL. donoiiorts Oilier doFlall()11.S Pertrtie.f fi)r ehrtrtge 7,425 86,21 9,548 96,097 9,993 174,049 54,813 684 438.819 71,920 849,953 79,345 936,163 9,548 96,097 18,924 235,444 90,232 6A4 1,460 437 8,931 01,395 35,419 1.027.618 24

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 Support costs 26 Dec 2022 to 24 Dec 2023 Total 27 Dec 202110 25 Dec 2022 Toial Bank charge Consultant fees Audit fccs Staff cn%is IT software Grant shoTtlisting Other Ex enses Total support costs 477 .5,700 14.690 IIX),319 7,311 5,300 25,864 159,661 679 9.900 74,893 48,034 134,697 AII suptX)rt costs related to uniestiicted funds in the above periods. Included in sUPPOrt costs are the following governance costs. The consulianr fees of £5.7(XJ in the period ending 24 December 2023 relaie to design and implementation of the Foundation's new websiie, as such ihese have noi been included in below figures. 26 Dec 2022 to 24 1)ec 2023 Total 27 Dec 202110 25 Dec 2022 Total Consultant fees Audit fees- current peTit Audit fees- nor eiiod Total governance eosts 12,Otx) 2.690 In,O(Kl 11,091 25

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 Salaries & Wages Disclosures (tt) Sthff costs Staflcosts during ihe period were.. 26 Dee 2022 27 Dec 2021 to 24 Dec 10 25 Ikc 2023 2022 Wages and salaries Social security co%L Pension cosis 8.3,-f49 8,059 8.711 101),319 63.923 4.966 74,893 Total staff cosLs All staff cn%ts werc crnss chargcd from KFC. (b) Staff nupnber5 The averdge number of persons (including the senior Tnanagement teatn) employed duTing the period ended 24 December 2023 was 312022- 2), with Hdnndh Siinmons joining the teaTn full lime it) May 2023. (c) Higherpaidsloff No employees euTnt over £60.(MXI in the period12022 - none). (d) Key managementpersonnel The key nianagen)ent per%onnel of the Foundation con)pri%e of the T￿.￿tee8 and a KFC employee who%e ary i% recharged io the foundation. The total amoiint of einploye£ benefit% lincliiding employer pet]%ion contributions ￿nd eniployer national insur￿nce contributions) received by key mAn￿gement personnel for their services to the Foundation w&% £36,997 (2022- £36,004). Debthrs 24 Dee 2023 25 DeL 2022 Amuunls due fiuTn KFC Trade debi()rs Total debtors 6,151 197,476 203,627 20,012 166,204 186,216 7 Creditor5 24 Dee 2023 25 Dec 2022 Accruals Other crcdiior% Amounts due to KFC 14,083 10,(M)o 3,000 51,104 6A,104 9,5(15 23,588 Totsl Lreditors 26

KFC FOUNDATION Notes to the Financlal Statements Period from 26 December 2022 to 24 December 2023 8 Analysis of net a&sets between funcls Unre%tricled General fund Unrestricted General fund Re%iricted Total funds funds 24 Dec 2023 Re%iricted Total funds funds 25 Dec 2022 Fund balanc&4 at the perind end are repr￿ented by: Current a%sets Current liabiliiies Total net assets 1,417,985 123,5881 1,394,397 1,417,985 123,5881 1,394J97 740,365 164,1031 676,262 177,568 917,934 (64,1031 853,830 177.568 The restricted funds in 2022 relate to income received from product contributions which would be given as donations to Coinic Relief. 9 Net cash provided by operating activities 26 Dec 2022 to 27 Dec 202110 24 Dec 2V23 25 Dec 2022 Net inovement in funds Ilncreasel decrease in debtors (DeLrease) inlie￿Se iii Liedilor Increase in cash in ihe period 540,567 (20.958) {40..5161 479,091 {44,4831 119,499 40,708 115.724 27

/xodo sign Audit Trail by apryse Document Details Title KFC Foundation Annual Report 2023.pdf File Name KFC Foundation Annual Report 2023.pdf Document ID 8aefabc4a4ac45dfa7a8ce2edd86alad Fingerprint a33b8a851 b9a1 c7cfb210c6cé8852dO Status Completed Document Hislory Document Created Document Crealed by Hannah Simmons [e-mail] Fingeipiiiit.. aaeG4bJeea9al 31d3clQJ50oe693dda7 Aug 23 2024 10.'2DAM UTG Document Senl Document Sent to James Fletcher [e-mail] Aug 23 2024 10 2tiAI..1 IITC Document Vlewed Document Viewed by James Fletcher [e-mail]} IP.. 163.1.146.142 Aug 23 2024 10.'27AM UTC Document Signed by James Fletcher [e-mail] Document Signed Aug 23 2024 10.32AI.1 UTC fldcAer Document Completed This document has been completed. Finqerpi Iiil.. a33b8a8i1 boa1 c I c-9210c6cd8852clO Aug 23 2024 10.32AM UTC Processed by xodo sign