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