Charity Number: 1206708 WHITBREAD WELFARE FUND (Registered under the Charities Cornmission for England and Wales) Financial Statements for the period ended 31 December 2024 1 |Page WHITBREAD WELFARE FUND Legal and Administration information for the period ended 31 December 2024 Charity Numbgr: 1206708 Trustees: Daren Lowry Marc Ha￿leS Sally King Simon Ewins Francis Broadhurst ChaIr￿r$On. Rachel Howarth Reglstered Office: Whilbread PLC Whitbread Court Porf2 Avenue Houghton Hall Park Houghton Regis LU5 5XE Independent Examlners: SpI￿r & Co UK Limited Staple House 5 Eleanor's Cross Dunstablé LU6 1SU Bankers: NatWeSt Bank Moorgate (M) Branch PO Box 712 94 Moorgate London EC2M 6UR 21Page WHITBREAD WELFARE FUND Contents for the period ended 31 December 2024 Pa e Number Report of th8 Council Income and Expenditure Account Balance Sheet 7t09 Notes to the Financial Statements 31Page WHITBREAD WELFARE FUND Report of the Council for the period ended 31 December 2024 Objectives The Whitbread Welfare Fund was established with the aim of the prevention or relief of poverty caused by financial crisis, of people currently employed by, or closely connected with, the Whitbread Group by making grants or gifts of money for providing or paying for items, services or facilities. Activities .The Whitbread Welfare Fund is not yet fully active and the activities in the period under review were limited to establishing govemance pro￿sseS and operating procedures, as well as obtaining tax clearance to ensure the long-term protection of the charity and its beneficiaries; this is still under review. Financial Revlow During the reporting period, the charity re￿iVed an initial donation of £10,000 from Whitbread PLC. These funds have primarily been used to cover ongoing bank charges. Bankin9 arrangements have been established, and investment managers have been engaged in preparation for the charity becoming operational. The trustees have approved financial policies designed to ensure prudent financial management and robust internal controls. These include ¢learly defined authority levels and segregation of duties, particularly in relation to the movement of funds. As the charty does nol tneet the statutory threshold for audit in this period, an independent examination will be undertaken by Spicer & Co. in accordan￿ with applicable regulations. Structure, Governance and Management Six trustees have been initially appointed, of which four a￿ employed by Whitbread Group PLC. There are two external and independent Trustees. to ensure the integrity of the charty's operation and decision making. The Trustees have been responsible for the establishment of the charity's governance framework and will oversee the administration of the charity once it is fully operational. Once active, o Grants Panel will be stood up to advise and guide the Trustees for the outcome of grant applications, by applying a real world and practical lens. Ultirnate grant awards will remain the responsibility of the Trustees. Signed on behalf of the trustees NAME.. Salty King TITLE.. Trustee DATE.. 22nd October 2025 41Page WHITBREAD WELFARE FUND Income and Expenditure Account for the period ended 31 December 2024 Notes Unrestrirted Total Fund5 Funds 2024 Income and endowments from: Donations and legacies 10.000 10,000 Total Income io,ooo 10,000 Expendlture on: Governance costs 1.201 1.201 Totsl Expendhure 1,201 1.201 Net ILoss)IProfit 8,799 8,799 Total funds brought fonvard Total funds carried forward 8.799 8.799 The notes on page5 7 to 9 forrn part of these financial statements 51Page WHITBREAD WELFARE FUND Statement of Financial Position as 31 December 2024 Notes 2024 2024 Current Assets Cash at bank and in hand 9,939 9,939 Creditors Amounts falling due within one year 11,1401 Net Current Assets Total Assets Less Current liabilities 8,799 8,799 Net Assets 8,799 General Funds Unrestrlcted Income funds 8,799 Totsl Funds 8,799 All of the charity's activitie5 derive from continuing operation5 during the period. All gains and losses fecogni5ed in the period are included above. These financial statements were approved by the Commlttee members ￿lOW on behalf of the Commtttee on 22 October 2025. S Kin8 ITrusteel The notes on pages 7 to 9 form part of these financial statements 61Page WHITBREAD WELFARE FUND Notes to the Financial Statements for the period ended 31 December 2024 l. Accounting Policie5 Basis ol a¢¢ounting The Finantial Statements have been prepared under the historical cost convention, and in compliance with United Kingdom Accounting Standards, including FRS 102 (The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland) and the requirements of the Co-operative and Community Benefit Societies Act 2014. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents the amount received for services rendered, net of returns, discounts and rebates allowed by the society and value added taxes. Grants Income from grants are shown as amounts actually received. Income from grants for assets are shown in the year received, where the assets are purchased in the same year. Government grants are recognised when there is reasonable assurance that the entity will comply with the condltlons attaching to the grant and the grant will be received. Debtors Short temi debtors are measured at transattion price Iwhich is usually the invoice pricel. less anv impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effertive interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice pricel. Loans and other financial liabilities are initially recognised at transartion price net of any transaction costs and subsequently measured at amortlsed cost determined using the effeLtive interest method. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposlts held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. Z. Income from donations and legacies Unrestricted funds Restricted funds 2024 Donations received 10,000 10,000 10,000 10,000 71Page WHITBREAD WELFARE FUND Notes to the Financial Statements for the period ended 31 December 2024 3. Creditors: Amounls falling due within onwear 2024 Accruals 1,140 1,140 4. Movement in Funds-current Year Balance at 25101/2024 Incoming Resources Outgoing Resources Balance at 3111212024 Unrestricted 10,000 11,201) 8,799 Total lo,￿0 11,201) 8,799 81Page WHITBREAD WELFARE FUND Notes to the Financial Statements for the period ended 31 December 2024 31.12.24 31.12.24 Unrestricted Restricted Funds F¢Jnd5 31.12.24 Total Funds INCOME AND ENDOWMENTS Donations and legacles Donations received Grants received 10,000 10,0 10,000 10.000 Governance costs Accountancy fees Bank charges Motor and travel éxpense5 1,140 61 1,140 61 ¥201 1201 Total reSoUr￿S expended 1,201 1,201 N•t IDefiiit)ISurplu5 8.799 8.799 91Page