Charlty r•gl•tr•tlon numb•r 1181129
THE DAVIES FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 FEBRUARY 2024

THE DAVIES FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Tru•tM•
Paris Baker
Antonio Debiase
Daniel SauK&r
Emma Weddert)um
Prlnclpl• admlnl*htor
Paris Baker
C￿rIty numb•r
1181129
Ind•p•nd•nt •x•mln•r
Jonathan Ward FCA
Azet Audit Services
Alpha House
4 Greek Sl
Stockport
Chashire
United lfjngdom
SK3 BAB
Bank•r•
HSBC UK
26 Broad Strggt
Roadin9
Bertshire
RG128U

THE DAVIES FOUNDATION
CONTENTS
P•g•
Trust8as' r8POrt
Independent ex8minerfs report
Stslemgnl of finaneial actimtigs
Balance sheet
Note5 to the financial stalefflenls
7-11

THE DAVIES FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 1 FEBRUAR Y 2024
The trustèès present their annual report and finanaal statements for the year ended 1 February 2024.
The financial s18lemenls have been prepafed in accoid8n¢o with the accounting poli(Je5 set out in notè 1 to thè
financial slalemenls and compty with the charill5 deed ol trust, the Charities Act 2011 and "Accounting and
Reporting by Charities." Sl8lemÈnt ol Recornmended Practice 8ppli¢able to charities preparing their accounts in
accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic ol Ireland {FRS 1021
(effective 1 January 20191"
Objective$ and actlvltlès
Our charitable objecb'ves are as follows".
advancement of ¢itYzenship or cL)mmunity development
advancement of edu¢ation
prevention or relief of povèrty
the advancement of environmenlal proleclion or improvement.
Our aims
The Davies Foundab"on aims to crèate a positive social impad in the communities globalty where Dawe$ Group
operate. Through ongoing lundraising and receiving match funding from Davies Group, Ihe ch8fity will proviile
grant funding lo charitable oiganisalions nominaled by our ernployeès through our grants scherne.
The Iruslee$ a￿ satisfied that the aims obièetives of the charity, and the activities reported on can ac*ieve
the aim5 and principles ol public benefit.
Strategies
The primary strategy lor achieving the four chaiilable purposes detailed under the objectives above is charitable
donalions via a grants funding scheme. Periodically. whenever the trustees see fit, The Davies Foundation opèns
grant applications, wheTeby any employees of Davies Group can nominate charrtable Ofganisalions and nol-lor-
profrts to receive lunding Iioffl our charity. Each application can rèquest up to £1.000 in non-resliicled lunding,
which can be used for core costs at the elecled charity. The granls funding scheme aims lo support the services
Ihifd $e¢tor organisations in OUT communities, which are workn'ng to support public benefil and contribute towards
our four Charitable purpose ladvancemenl of citizènship or communty development, advancement of education,
prevention or relief of poverty. Ihe advancement ol environmental protection OT improvèmènt.)
The charity on occasion will makè donations over the value of £1.1)00 lo charities lo rnalch the efforts of our
¢011gagues fundraising through Chall￿ge evenls.
The Davies Foundation additionally engages in charity partnerships for stratègic fundraising campaigns. This
entails fundTaising for the pr￿eterni1ned cause and receiving match fundin9 from Davies Group. Further lo
fundraising inrtiatives, the charity partners with non-profit organisation5 to deliver educational talks and internal
awareness campaigns on issues induding, rnentsl heatth, finanaal well-being. diversty & incluston, challenging
racism and LGBT 1ndusion.
The trustees have paid due regard 10 9uidance issued by the Charity Commission in derading what activities the
chairty should undertake.
Grnntrymakin9 poli¢y
The Davies Foundation 9rants are submitted by Davies employees and assessed by our Grants Committee. a
voluntary board of colleagues across a variety of Davies locations and departments. The Grants Committee
assèss each application against our charitable principles and 8llo¢ate funding fairly across Ihe locations which
Davies opèrates. The Grants Committee must allocate funds within a pre-determined maximum allocation as well
as Provide rtrasons for these derAs￿n$. Thè final distribLrtion is signed off by The Dawes Foundation board of
trustees.

THE DAVIES FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED I FEBRUAR Y 2024
U•e of volunteer4
The Davies Foundation works with a neh¥ork of over 60 vduntsry representslives auoss Oawes Group bcalions
to promotè ewnts and initiatives. ￿Pres&nt oui ¢harty globalty, organise fundraisers and provido feedback from
Davies employees. The CSR Represenl8live5 adhere lo the Nolan Principles when carrying out dut￿$
a$$orialed with The Davies Foundation.
Achlevements and perforniance
How our activities deliver public benefft
Th8 Dawes Foundation distribuies donations through our grants ftjnding si*eme to charitable oigani5alions
nominated by employees of Davies Group. working in the cornrnunitie5 where Davies operates. Vve support
range of charities. nol-for-profils and community cau5e5, which contribute to our charitabte purposes, including
but not limited lo.. family welfare charities, foodbanks, horneless sheltefs, medical charrtie5, mental haalth
organisations, 5UPPOrt group5. en￿rOnMen1al charities and communty groups.
Th• maln actlvltF•s ar• as follows..
1. Inlemal remote and virtual fundraisers, challenge events and in-office evenls, held and participated in by
Davies GfOUP employees.
The grant funding scheme allocaling fvnd$ lo ¢haritable organisalions nominated by Davies employtes.
2. Match funding fundraising effort5 of em￿OyeeS for charitable causes, including matehing fvnds raised through
challenge events and personal challenges.
3. Edvcalional and awarfjne$$ Campaigns on social i$$ug$, including awareness days, hosting •du¢ational talks
and ¢h81ty partnèrships.
Flnanclal revlew
During the year income received tolalled £111.837 12023 £107,452) and expenditure tolalled £108.6C6 12023
£121,0031 fesulkn'ng in unrestricted reserves lotalling £100,36812023 £97,136}.
Re￿r¥•9 pollcy
The Charrty will aim lo maintain unrestricted ￿SeNe8 of £5,000.
Prlnclpal funding sourc•s
The primary lunding source is inlemal fundraising via events held by Davies employees. All funds raised are
matched by Davies Group, with both the funds raised and matched funding ￿ntrIbub.n9 lo The Dawes
Foundation grants funding scheme.
Rlsk management
Trustees ¢omplote frlearning on GDPR. An￿MOneYlaUnderin9, Bribery and Iwrformalion Socurity lo provide the
ski115 for effe¢tTrve risk management in those a￿88.

THE DAVIES FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED I FEBRUAR Y 2024
Pl•n$ for future periods
In 2024 and beyond. we continuè to look to grow OUT impact. focusing OUT stralegy on three core thèmès., 111
Supporting our comrnunilies, 121 Going green doing our bil for the planet, and,131 Ampltying voices 8nd talking
about the issues which matler. espècially in relation lo diversity. equalty and inclusion. This will entsil continuing
our intemal fvndraising through employee events for our grants scheme to support charrtable causes. In January
of 2024, we have £80,000 available to allo¢al£ lo charities nominated by our people. and we have a larget of
raising £100,000 this year lor the scheme. Through a combination of employee and business-led initialives. we
will be promoting sustainable environmenlal lrfestyles as well as supporting diversity, equality and induston in the
business and WKler soo8ty.
This year we look forward lo continuing wrth a range of charrty partnerships to deliver educational talks and
campaigns on issues which rnatter. induding LGBTQ+ issues. culture and herrtage, disability inclusion and mole.
We aim to run campaigns and lealure$ around awareness days, induding, Black History Month, Inleinalional
Women's Day, Mental Heatth Awareness Vveek, Piide Month, Disability Awareness Day, World Homeless Day
and World Menopause Day.
Struetufg. governanc• *nd monag•ment
The Davies Foundation is governed by a deed of Irusl, last updated in March 2018. Thè charty is regislered with
bolh the Charity Cofflmission (No. 11811291 and Companiès House INO CEO1588518s a Charitable Incorporated
Organisation.
The Iru$t8es who served during the year and up to the date of signature of the financial statements were..
Paris Baker
Antonio Debiastr
Daniel S8vrter
Emma Wedderburn
RKruitment •nd appointment of trustee¥
Apart from the first Irusl&e$, every charity Iruslee rnu$l bè appointed for a tenn Of threè years. In selecting
indiwduals for appointment as Irustees, the charity trustees musl have regard for the skills, knowl8dgè and
experience needed for the efte¢tive administration of the CIO.
Oryanisational struetur•
The charity Iruslee5 are responsible for the general conlrol and management of the ¢harity. The trustees 9ive
their lime freely and receive no ièmuneralion OT other financial benèfits.
Induction and tralnlng of trustees
All trustees as Davies employees are obliged lo complete training on.. GDPR. Anti-money laundering, Treating
Customers Fairfy, Health & Safety, Modem Slavery. Bribery, Whistleblowin9. Sexu81 harassment prevention in
the work place. Information Security and UK Financi81 Sanction$. This is an annual requiromènl to mainlain
knowlèdge in these areas.
Tho trustees. Teport was approved by the Board of Trustèes.
Emma Wedderburn
Trustee
Dated".
0811012024

THE DAVIES FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE DAVIES FOUNDATION
118port to the trustees on my exarninalion of the financial slalements of The Dawes Foundation (the charilyl for
the year ended 1 February 2024.
Responsibilitiès and basls of rèport
A5 the trustees of the charity you are rosponsiblè for th& preparation ol the financial statements in accordance
with the requirements ol the Charities Act 2011 (thè 2011 Adl.
I rèport in re$pecl of my examination ol the charity's financial slat8m&nts ¢arried out under $e¢t#)n 145 of the
2011 Act. In carying out my examinalion I have followed all Ihe 8pplicable Directions given by the Charity
Commission under seclion 14515llbl of Ihe 2011 Acl.
Independènt èJEamin¢¢$ $tstsm¢nt
Your attention is drawn to the fact that thè charity h8$ prepared finanoal statements in accordance with
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Standard appli¢able in Ihe LIK and Republic of Ireland IFRS 102> ￿ preleien¢e lo the Accounting and
Reporting by Ch8nlies'. Statement of Recommended Praclice issued on 1 April 2005 which is refarrèd lo in the
extant regulations bul has now been withdrawn.
l understand that this has been done in order lof financial slalemenls lo provide a truè and lair view in
accordance with Generalty Accepted Accounting Practice effective for reporting periods beginning on or after 1
January 2015.
haw completed my examination. I confirm that no matters hav9 wmg lo my attenlion in connection with the
examination giving me cause to believe that in any material rèsp•ct."
accounting recoids were not kept In respect of the charity as required by section 130 of the 2011 Acl". or
Ihe financial statements do nol a¢¢oid wlh those records., or
Ihe financial slatemenls do not comply with the applicable requirements concerning the lom and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accoltnls give a true and fair w&w which Is not a matter considered as part of an independent
examinalbon.
I h8ve no concem5 and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the financial slaternenls to
be reached.
Jonathan Ward FCA
Azets Audit Service5
Alpha House
4 Greek Sl
Sltsckporl
Cheshirè
SK3 8AB
Unrted Kingdom
Dated..

THE DAVIES FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED I FEBRUARY 2024
Unre•trl¢tsd Unrnstrf¢t•d
funds
fund•
2024
2023
Donations and legacl•$
Other trading aGtivities
55.588
56.249
57,625
49.827
Total In¢om•
111.837
107,452
Iturn on:
Raising funds
14,9SO
32,290
Charitable activilies
93,656
88,713
Totsl •xp•ndlturn
108.806
121,C¥)3
N•t Incom•ll•xp•ndltyr•l for th• yoarl
N•1 m0￿ment In fund4
3.231
(13,551}
Fund balanc•s al 2 February 2023
97,137
110,687
Fund b•lanc•s at 1 F•bru•ry 2Q24
100.368
97,138
The stal8m8nt of financial activrties indudes èll gains and losses recognised In the y•8r.
AN income and expgnditUTè derivfr from ¢ontinuing aclivitie8.

THE DAVIES FOUNDATION
BALANCE SHEEr
ASAT I FEBRUARY2024
2024
2023
Nol•s
Cury•ntaM•l8
Debtors
Cash at bank ar￿ in hand
11
14,498
87.789
13,987
84.969
102.287
98,936
CrndStorn: amounts falllng du• wlthln
oft• y•ar
12
11.9201
11,799)
Nèt current assots
100,367
97,137
Incom• lunds
Un￿s￿'cted funds
100,368
97,136
100,368
97,138
0811012024
Thg finanual $1ol•menls were approved by the Trustees on.........................
Anton￿)
Tru•te
biase
Emma Wedderbum
Tru•ts•

THE DAVIES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED I FEBRUARY 2024
Accounting policies
Charity informatlon
The Davies Foundation CIO is a Charilable Incorporated Organisalion which was registered with thè Charity
Commission on 11 December 2018 and commenced operations on 16 April 2019.
1.1 Accountlng ¢onv•ntlon
The financial statement5 have been prepared in a¢cordance wth the charity's goveming documenl, the
Charities Act 2011 and "Accounts"ng and Reporting by Charities.. Statement of Recommended Practice
applicabk to charities preparing Iheir accounts in a¢¢ordance with the Financial Reporting Standard
applicable in the UK and Republic of Ir&land IFRS 1021 leflectivè 1 January 20191" Thè charty is a Public
Benefit Entity as dèfined by FRS 102.
The charrty has taken advantsge of the pro￿$10n5 in the SORP for charities apptying FRS 102 Update Bulletin
1 not to prepare a Slalement ol Cash Flows.
The finanual statements have departed from the Charities (Aeeounls and Reptsrtsl Regulations 2008 only to
Ihe extent required to provide a Irve and lair view. Thi5 departure has involved following Ihe Stalemenl of
Recommended Practice for charities applying FRS 102 ialhar than the version of the Statement ol
Recommended Pra¢tice which is referred to in the Regulations bul which has since been withdrawn.
The financial statements are Pfepared in slerlin9, wh￿h is the functional ¢uirèncy of the charity. Monetary
amounts in these financial slalements are rounded lo the nearest £.
The financial stslements have been prepared under the historical cost convenknon. The principal accounting
pdicies adopted ar• set out below.
1.2 Golng concern
The truslees monilor the ever changing srtuation and continue lo evaluate the charity5 ability to continue to
operate on an ongoing and foreseeable b8S1S.
Al the time of approving the ffinancial slalemer71$. the trustees have 8 reastsnab￿ expectalion that the charity
has adequate resources lo continue in operational existence for the foreseeablè fLrture. Thus the trustees
continue lo adopt the going concem basis of aC￿￿￿kn"n9 in preparing the ffinancial slatèmanls.
1.3 Charitabl• funds
Un￿StrICted funds ar8 available for use at Ihe discretion of the Iruslees in lurtherancè of their c*8fitable
objectives.
Restricled funds are subject to specific eonditions by donor5 as to how they may be used. The purposes and
uses of the reslrided funds are set out in the notes to the financial slalements.
Endowment funds are subject lo specific conditions by donors th* the capital musl be maintained by the
charity.
There were no restricted or &ndowmenl lun¢Js.
1A Income
Income is recognised when the charty is legalty entitled lo il after any performance conditions have b8an mèt,
Ihe amoun15 can ￿ mèasured reliably, and it is probable th81 In￿rne will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified
of the donation. unless performance conditions require deferral of the amount. Income lax ￿CoVerable in
rèlation lo donalitsns received under Gift Aid or deeds of covenant is recognised al the lime of the donation.

THE DAVIES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED I FEBRUARY2024
A¢¢ounting pollcles
Icontlnuedl
Legacies are re¢ognised on reeeipl or othe￿iSe rf the ¢harity has been notified of an impending di$lribulion.
the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a
contingent asset.
1.5 Expendliure
Expenditure is recognised once there is a legal or con$lTudive obh'galh)n lo transfer economic benefrt lo a
third party, il 1$ probable that a Iransler of aconomic benefits will be required in settlement, and the amount of
thè obliyalion can be measLbred reliabty.
Expendilure is dassiffied by activity. The costs of each actiwty are made up of the lolal of difect costs and
sha￿d cDsts. including support ¢o$l$ involved in undèrtaking èach activty. Direct costs #ttribulable to a Single
activity are allocated direclly lo that activity. Shared costs which contribute to more Ihan one actiwly and
support costs whith are not attributable to a single a¢tiwly ale apportioned be￿een those activities on a basis
eonsislent wrth the use ol resources. Central staff Cos15 are allocated on the basis of time spent. and
d$pie¢ialion charges are allocated on the portion of the asset's use.
Resources expended are induded in ihe statement of financial activrties on an accruals basis, inclusive ol VAT
Whe￿ il is not recoverable.
Charitable expenditure comprisès those Costs incurred by th8 eharity in the delivgry of ils activities and
seNicEs for its beneficiariès. It includes both costs that can be alloc8led directly to su¢h activrties and those
costs of an indirect natUTe necessary to 5UPPOrt them.
Goveman¢e cos15 include Ih05e costs associated with meeting the constrtub'onal and statutory requirements
ol the ¢harrty and include the independenl examin8lion fees ol Ihe charity.
All cos15 are allocated btheen the expenditure categories in the Slalèmènt ol Finanaal Activities ISOFA} on
basis designed to reflect thè use of the resource. Costs relatin9 to a particular activity are allocated di￿¢tty
whilst others arg apportione(J on an appropriate basis.
1.6 Cash and cash èquSvalènts
Cash 8nd cash equivalents includ8 cash in hand, deposits held at call with banks, other short.lemi liquid
investments wrth original maturrties of three months or less, and bank overdrafts. Bank ovèrdrafts are shown
wilhin borrowings in current liabilities.
1.7 Flnancl•l In$trurn•nts
The charity has elèded to apply 1he Provisions of Seciion 11 '8a$ic Financial Instiurnents, and Sethn 12
'Other Financial Instruments Issues, of FRS 102 to all of its financi81 inslrurnents.
Finan￿¥1 instwments are recognised in the charity'$ balance Sheet when the ¢h8rity becomes party lo Ihe
¢ontra¢lual provision5 of the instrument.
Financial asset5 and liabilities are offsel, wrth the nel amounts presented in the financial statements, when
there is a legally enforceab￿ right lo sel off the recognised amounts and thère 18 an intention lo settle on a n81
basis or to realise the asset and $Èttle the liability simullaneousty.
Basic financlal ass•ts
Basic financial assets, which indudè debtors and cash and bank balances. are inrtially measured al
transaction price including transaction ¢esls and are subsequently carried at amortised cost using the effective
inleresl method unless the arrangement constitutes a financing transa¢tion, whèiè the transaction is
measured at the present value of the future receipts discounlgd al a market rale of interest. Finanaal assèts
classified as receivable within one year ale nol amortised.

THE DAVIES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED I FEBRUARY 2024
A¢¢ountlng policie5
(Continued)
Ba$1¢ Ilnanelal Ilabiliti•s
Basic financial liabilities. including creditor5 and bank loans are initially recognisèd at transaction price unless
the airangemenl conslilutes a financing tran58Ction. where the debt in5trurnenl is measured al the present
value of the future payments dis¢ounted al a market rale ol interest. Financial 118bililies classified a5 payable
within one year are not amortised.
Debl inslTuments are subsequently carried at amortised cost. using the effeciive intere51 rate method.
Trade creditor5 are obligations lo pay for goods or services that have been acquired in the or¢Jin8ry ¢ouise of
operations from suppliers. Amounls payable are classified as current liabilitiès il payrnenl is due within onè
year or less. 11 not, they are presented as non-current liabilrties. Trade creditors are recognis&d initialty at
tfansaction price and subsequenlly measured at amortised cost using the effeGtive interest method.
Derecognition ol flnancial liabilities
Financial li8￿.1￿tieS are derecognisèd when the charity's contractual obligations expl￿ or are discharged or
cancelled.
Critical accounting •$timat•s and judg•m•nts
In the application of the Chartty's accounting poli¢Tes, the trustees are requirèd to make judgemen15. estimates
and assumptions about the ¢arrying amount of assèts and liabilities that are nol readily apparent from other
soureès. The estimates and 8ssotyated assumptions ara based on historical expen&nc8 and other factors that
are considered to be relevant. Aclual results may differ from these estimates.
The eslimales 8nd undertying as5umplions are reviewed on an ongoing basis. Revi$ions to accountsng
eslimates are rewnised in the period In which the estimate is rèvised where the revision affe¢ls only that
period, or in the period of the revision 8nd future periods where the revision affects both current an¢J futura
periods.
There were no uilical accounting eslimales orjudgemenls.
Donations
Unrestricted Unreslrieled
fund¥
lunds
2024
2023
The Davies Group donations
55,588
57,625
Fundr&lslng activities
un￿trIC￿d Unrestricted
funds
funds
2024
2023
Event and associatèd costs
56.249
49,827

THE DAVIES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED I FEBRUARY 2024
Raising funds
Unrestrict•d Unrestricted
funds
funds
2024
2023
and ublicAt
Other fundraising ¢0s15
14.950
32,290
14.950
32,2
Charftabl• actlvttl•$
2024
2023
Grants issued
Online giving ¢harggS
71,346
622
fj4.779
1,076
71.968
65,855
Share of support cosls (see note 71
Shale of govemance costs
8,925
12,763
10,822
12.036
93,656
88,713
Support costs
Support Gov•m*nce
¢o$ts
costs
2024Support C051s Governance
Costs
2023
General insurance and
overheads
Charity databas8
7.958
7,958
967
8.667
2,155
8.867
2,155
Audlt fees
Truslees insurance
1,920
10.843
1,920
10,843
1,800
10,236
1,600
10,236
8,925
12.763
21,688
10,822
12,036
22.858
Analysed be￿een
Chaiilable actlmlies
8,925
12,763
21.688
10,822
12,036
22,858
Govemance Costs indudes payments to thè a¢¢ounlanls of 2024 £1,920 12023 £1,800) for independent
examination fee6.
10-

THE DAVIES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED I FEBRUARY 2024
Tru*t••*
None of th• trustees lor any p•r8ons connected vAlh them) rec•i¥ed any remuneration or benèfrtg from th•
chadty during yeaf.
Employ•••
Th• averagè monlhty numbar of employee$ dudng th8 year was..
2024
Numbv
2023
Nurnber
Total
There wer8 no employees during thè year or prfor p•riod.
There were no employe08 whose annugl remuneration was moro than £60.000.
10 T•x•tlon
The tharily is exempl from lax on income an*Y gains tslling within section 50S of the Taxes Act 19B8 w 8eclh)n
252 of the Taxakn'tsnof Charg&abl8 Gains Act 1992 to Ihfj extfjnl that thesè arè applied to 115 charitable objects.
li D•btorn
2024
2013
Amounts falllng vthln on• y•ar:
Prepayments and accrued Income
14,498
13.967
12 Cr•dlQovs: •mounts falllng du• wlthlft on• ymr
2024
2023
A¢cruals and deferred Income
1.920
1.799