THE GROCERS, CHARITY ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2025 Charity Registration Number: 255230
THE GROCERS, CHARITY CONTENTS Page REPORT OF THE TRUSTEE REFERENCE AND ADMINISTRATIVE DETAILS STATEMENT OF TRUSTEE'S RESPONSIBILITIES io INDEPENDENT AUDITOR'S REPORT 11-13 STATEMENT OF FINANCIAL ACTIVITIES 14 BALANCE SHEET Is CASH FLOW STATEMENT 16 NOTES TO THE ACCOUNTS 17-30
THE GROCERS, CHARITY REPORTOFTHETRUSTEE FOR THE YEAR ENDED 31STJULY 2025 The Trustee Presents its annual report and the accounts for the year ended 31st July 2025. The accounts have been prepared in accordance with the Charity's Trust Deed. the Financial Reportingstandard applicable in the UK and Elepublic of Ireland IFRS1021, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, and the Charities Act 2011. OBJECTIVES AND ACTIVITIES Objectives The Grocers, Charity is the charitable arm of the Grocers, Company I'the Companv'l, and connects the Grocers, past, present and future commitments to be o nursery of chorltles ond o semlntyry of good citizens. As a grant-awarding body, our mission is to invest in and support a broad range of small and medium-sized UK- registered charities. The Grocers, Charity has worked with hundreds of registered charities across the UK of different types that improve the quality of life for people and communities. The major causes we support are Education, Churches, Relief of Hardship, the Elderly, Disability, Arts and Heritage, Health, Military, Environment, and Children and Young People. The Trustee ha5 had regard to the Charity Commission's guldance on publlc beneflt and believes the wide-ranEing and numerous charities 5UPPOrted by the Charity to be beneficial to the public at large. Further detail on the number and type of grants awarded is provided in the Achievements and Performance sectlon below. All applicant5 for charitable donations are required to demonstrate how the donation would be used for public benefit, state the anticipated outcomes of the grant, and are asked to provide evidence of those outcomes should their applications be successful. Grant-making Policy The Charity is proud to be able help smaller charities. which may not be in the public eye. and where our award could make a significant difference. Each year, the Charity sets a budget that establishes expected income for the period and sets a tarBet for 8rant-givin8. There is a broad cate8orisation of the nature of the budgeted grants, which is advisory, and does not restrict the types of grant allocated during the year. Once the overall financial parameters have been set. the policy on awarding grant5 is flexible. This flexibility enables due consideration of the worthiness of applications received from charities durin8 the year. Awards are accordingly made on merit. Over tlme, different categorles of need may attract varying degrees of support, although there are certain charitie5 to which the Charity contributes on a regular basis. Amongst these, education continues to be a high priority. A significant proportion of the Charittys expenditure is committed to this category in the form of bursaries land scholarshipsl at schools, universities and colleges with which the Company has historic link5. Donation5 to churches under the patronage of the Company and payments to thelr respective Parochial Church Councils also feature annually.
Consideratlon of Grants The consideration of grants is delegated to the Education & Charitie5 Commlttee, which normalty meets five times a year. Grant application5 are considered from UK-registered charities only that must comply with current guidelines, including restrictions, as detailed on the Company's website https'.Ilgrocershall.co.uk/the-charityl. The Charity uses an online eligibility checklist to ensure application5 fall wlthin the funding powers of the Trust Deed, and an initial application Is made if an 4pplicant meets the minimum criteria. For Éh05e eligible applications, an assessment Is then made of the balance of benefit and risk, the value of the proposed work, 8nd likelihood of delivery. should the assessment be favourable, an applicant is sent a link to fill in a Stage 2 form, which requires further details of its finances and project delivery plan. The Charity Manager shortlists the applications. These then are distributed to the Charity Liaison Team, consisting of volunteer Freemen and Liverymen members, who conduct further due diligence, that will normally include contacting the applicant and sometimes slte vi51ts. The resulting assessment report, provided to the Education & Charities Committee, includes recommendations, supported by a short summary of reasons drawn from the assessment section, to enable decision-makers to clearly see where the benefits and risks lie. De¢ision-making Generally, decision-making involves one of the following recommendations: award fundinE as requested- award funding at a different level Ilower or higher),. award funding subjert to certain conditions,. reject the application; or defer a decision for addttional information or expert advice. Grant recommendations are then reviewed by the Court and recommended to the Trustee for ratrfication or rejection. The Charity Manager notifies applicants as to the outcome in writing as soon as possible thereafter. Communr¢ating Our Decistons Feedback, when requested. is delwered by the Charity Manager and is aimed to help the applicant to improve or better target future applications. whe we rejert an application it is generally for une or more of four reasons: the bid is ineligible,. or the bid does not sufficiently meet the crlterla for the programme,- or we have reason to doubt the deliverability of the work or the opacity of the organisation- or we have limited fund5 and have to make cholce5 between equally deserving applications. Monitorlng Achlevement All Memorial Grants must state the outcomes of any grant awarded at the application stage.. these are confirmed again when a grant is awarded. Charitie5 are asked. a year after the grant has been made or when the project has come to an end Iwhichever is sooner), to submit a report explaining how the outcomes were met, any challenges experienced and the number of people sUPPOrted. The Education & Charities Committee and Trustee reviews these reports regularlv. Charities, churches and educational establishments Wlth which we have historic connections, are invited to submit regular report5 of their activities, such as school reports and new51etter5. These grantees also provlde annual summaries of grant expenditure as we51 as updated reports on their performan5. The Charity hosts bi-annual luncheons for our scholars and church incumbents, where we are able to monitor the progress of grant-funded projects and activities,
celebrate 5ucce55es and build relatior15hips between the Charity and our beneficiaries. Further monitorinE of all grants may include vi51ts by officers and members of the Companv. ACHIEVEMENTS AND PERFORMANCE Total income received was £868,16512024.' £1,127,160). This included investment income of £583,51512024: £768,208). In the past year, the Grocers, Charity received over 1,000 grant applications. The UK charity sector ha5 navigated a complex landscape in 2024125, characterised by finaneial fluctuations, evolving funding dynamics, and workforce challenges. Nearly half of UK charities reported a positive financial outlook for 2D24125. However, this optimism wa5 tempered by rising operational cost5, Wlth 81% of charities experiencing higher wage expenses, 76% facing increased energy bills, and 78% struggling to cope with elevated service user numbers. Grant-Giving and Fundralsin8 This year, the Grocers, Charity awarded 222 grants to 213 charities totalling £1,540,32912024- £1,152,598). Number,.. 2025 Grant Awards by Category .Category . 2025 Value awarded grants ' Arts& Heritage Church Arts & Heritage Youth £69,043 18 Church £45,5CrfJ 17 ¢.:::45#. Disabilitv Education £61,401 13 Povertv £645,937 17 Elder £49,340 li Military Environment £57,3CtJ io Health Education Health £144,874 39 Envlronment Military £31,190 Poverty £244,425 43 Youth £191,319 36 £1.540,329 213, Throughout the year, member5 donated their time or financially contributed to the Charity. Members collective donatlons contrlbute to circa 39% of the grants awarded for our openlmemorial programme. Collectively, members donated an incredible 3,387 hours to support the Charity by reviewing grant application5, volunteering for our work experience and mentoring programmes or acting as a school governor, and supporting our annual Chartty Fundraisin8 Dinner for which the Charity is immensely grateful. We were delighted to be able to support 3 Pillars Projett and Escapellne with ourfun(Iralsing dinner held In May 2025. The impact of the funds Eenerated was transformatlve for Escapellne, which works to prevent the criminal exploitation of young people across county lines, and 3Pillars, which support5 individuals in custody and after release to thrive beyond prison through the power of team sport, especially rugby. The Matched Funding Scheme, launched in 2007, continued in 202412025, with the Charity sponsoring 43 applications from Members who raised a combined sum of £192,802. including the Charity's cotitribution of £88,908. The Companv members are very appreciative that personal fundraising efforts for their chosen charities can be boosted in this way. The Trustee intends to continue thi5 Worthwhile scheme in the coming years.
Legacies Thanks to the generosity of our predecessor5 and current Members of the Company, we are in a posf(ion to make grants to support education and a broad range of UK-reglstered charitles working In our chosen flelds of Poverty. Youth, Elderly. Dlsablllty, Health, Mllitary, Herttage, Arts, and Environment. The Charity has received many bequests over its long history, that have benefr(ed its charltable work. For example, since 1612 the Dame Marsaret Slaney Fund has commemorated Dame Margaret's comTnitment to church preservation. The Charity is also extremely grateful to supporters who have informed the Charity they have included a gift in their will. IMPAcr Education Bursaries and scholarship5 play an important part in helping to drive attainment and encourage retention amongtalented students who benefit from financial sUPPOrt. We maintain a close working relatlonshlp with the schools we fund annualty, follow the progress of indwidual pupils, and attend award ceremonie5 and student performances. Many Company members also serve on the Governing Bodies of the 5choo15 the Charity supports, or volunteer as mentor5 for our work experience and mentoring programmes. Churche5 The Charity makes regular grants to the churches, with which the Company is affiliated, to support the incumbents, upkeep of the fabric and building5 and any community-focused programmes. Addr(ionally, the Dame Margaret Slaney Fund gives an annual donation of £5,000 to a selected church. In 2025, St Mary le Bow received the award to support the refurbishment and repairs of its three-bedroom lodge. Architects have noted that the lodging requires extensive improvement and modernisation. The church is also continuing with a programme of Internal flecoratlon, which includes repainting the ceilin8 in the chapel, restoring the church flooring, and rnaking lime mortar repair5. Memorial Grants UK-registered charities may apply to the Memorial Grants Programme through the Charity's website pages to be considered for a grant of up to £5,0(K), occasionally fflore. During the last year, we received 1,017 12024.. 1,1001 applications and funded approximately 18% of the applications received. Below are some examples of how the Grocers, funding made a difference in the words of the applicants. 4Si ht Vision su ort "Your funding significantly helped u5 durin8 our financial challenges, which were exacerbated by rising costs and decreasing donations. The Grocers, Charity funded specialist counselling and advocacy for those after a sight loss diagnosis, from initial assessment to long-term sUPPOrt. Be ond Limits "The project b005ted community resiliencethrough immediate relief and long-term support. Many beneficiaries received additional services, including wellbeing 5e55ions and safe housing. Our volunteer team grew in size and confidence, and collaboration with local partners expanded our reach." The Grocers, Charity funded emergency aid for those with financial challenges and the homeless by supplying weekly food and essential packages. Conflict Resolution Education in Sheffield Schools "In a 4-month follow-up. 78% Df children reported that peer mediation had a positive impart on them; 42% said it Improved their school experience, such as reducing the number of fights. One youth said, '1 am not as judgmental as before. . The Grocers. Charity funded training for primary school children to seNe as peer mediators in three schools through their Young Peacemakers Project.
Friends of Cotterid e Park 'It'll be a while before animals and birds fully utilise the new habitats, but changes are already underway. The projert transformed the damaged watercourse into a healthy, attractive area for nature and visitors for years. The Grocer5, Charlty supported the restoratlon of the 133-metre stream through Cotteridge Park. Housin O tions Scotland "The project helped 263 Armed FOrS Communily Members (including dependents), 122 of whom were homeless. with securing a home. ClSent survey scores indicated that they felt supported,1Sstened to, and understood. 'Yhe Grocers, Charity funded thelr programme, Milltary Matters, deliverlng free, expert housing advlce, information and support. The Recruitment Junction "Up to 73% of prison leavers re-offend within a year without work. However, none of our candidates have re-offended, Showing this projert helps young people leave crime and find purpose. It also helps families escape poverty and debt bv providing financial support. "The Grocers, Charty funded the charity's service of placing ex-offenders into 5UStainable paid employment. A full list of grants awarded in 202412025 15 included in Note 15 to the accounts. FINANCIAL REWEW The terms of the governinE Trust Deed require income to be applied for charitable purposes only, but, at the Trustee'5 discretion, permit its accumulation whilst it remains lawful. Income is derived from investments, fundraisin& donations from the Company and its mernbers. and other sources. As at 31st July 2025, the Charity's net assets totalled £38,609,903, an annual increase of 2.4%12024- £37,705,632, an annual increase of 9.4%1. The annual performance ofthe CharitV'5 investment portfolio, after management fees, was an increase of 1.3%, compared with a benchmark increase of 7.6% before fees12024.' 15.4% compared wf(h a benchmark increase of 17.9%). De5Plte continuing uncertainty in the global and UK economies, the Trustee considers that the Charity has sufficient assets to continue to fulfil its obligations for the long term. Investmertt Policy and Management From 1st May 2021, Rathbone Investment Management Limited has managed the investment portfolio on a discretionary Tnandate, with an overall objective to generate a total return of inflation las measured by CPI) plus 5% per annum on average over the long term. The Trustee's investment powers are unrestricte(J. The portfolio of the Charity is made up of direct investments and collective investment funds that provide a wide spread of investments. The principal objectives are to provide a blend of sustainable income in the short-to-medium term. growth of income over the long term and long-term capital growth. The reporting and control measure5 employed include regular updates from the Investment Managers of performance against the investment funds, benchmarks, as well as comparisons of investment income against budget. The Trustee regularly reviews investments and is sat15fied with the performan5 of the Charity's investments, and that the investment policy has been met. Reserves Pollcy As a grant-making body that provide5 neither services nor materials and has no long-term grant commitments to which it is legally bound, the Charity has no requirement for reserves in the normal sense. Furthermore, the expendable endowment is a capital fund by nature but 15 held on term5 which allow the Trustee to draw on it to provide additional resources to fund charitable spending which cannot be fully met from income. The Charity's investment strategy aims to ensure that long term capital growth of the expendable endowment will exceed the levels required to protect the capital fund from the efferts of inflation. Subject to achievement of that aim, the CharÉy may choose to allocate some of that growth to support expenditure without reducing the valije of the fund in real term5.
The Charity 15, however, committed to the continuing support of a number of beneficiaries, primarily schools and church patronages and would aim to maintain, and ideally increase, it5 current level of grant giving to them, while ensuring it retains sufficient reserves to enable the Charity to exist in perpetuity. Risk Management The Education & Charities Committee. having been delegated the task of producing a Yisk register, conslders the major risks facing the Charity. In respect of each risk. the potential impact is reviewed, and appropriate rneasures are adopted to mitigate the level of risk to an acceptable level in the Charlty's day to day operations. The risk register is reviewed bv the Education and Charities Committee and approved annually by the Trustee. The principal ri5k5 fated by the Charity lie in the performance of investments, other income, and operational risk5 f rom ineffective grant-making. The financial risk a550ciated with the variability of investment returns 15 mitigated by devolving investment management and deci5ion-making to Rathbones Investment Management Limf(ed on a discretionary mandate, and by maintainlng a diversif5ed portfolio of investments. Operational risk from ineffective grant-making 15 mitigated by the use of documented Brant-making procedures. As stated in the grant-making policy on page one. all applicants must State how a su£ce55ful grant award would deliver public benefit as part of the application procedure. All recipients of charitable donations are required to confirm that it will be used a5 specified in their applications. Each is asked to produce an end-of-grant report and summary of grant expenditure. Further monitoring may include visits by Officers and members of the Company. The Charity is a signatory of the Association of Charitable Foundation'5 Funder Commitment on Climate Change. It is a holistic, high-level framework to stspport funders tackling the causes and impacts of climate change. Consequently, we created a Climate Action Risk Register to annually measure our progress, and we consider environment31 issues as part of our investment strategy. Fundralsing Statement We are committed to our aim of providing grant5 to charities and charitable institutions, in support of a broad range of charitable causes. Generating income through fundraising allow5 the Charrty to maintain and grow its grant-maklng activities. The Charity uses a small range of fundraising approaches to raise money, for example, by communicating with Company members and an annual fundraising event where guests are invlted, and we manage all our own fundraising. Hence. we are not registered with the Fundraising Regulator, but acknowledge and follow the princlples of its code of conduct. The Charity does everything possible to meet the needs of potential supporters and protect vulnerable people. We occaslonally contact members both to raise funds and to set out in-kind optiorhs of donating. We strive for best practice in fundraising and to compW with all relevant statutory regulations, including the Charities Act 2011, the Charities (Protection and Social Investment) Art 2016, the Data Protection Act 2018 and the General Data Protection Regulation 2018, and we are a member of the Association of Charitable Foundations. The Charity communicates with its supporters in letters, emall and telephone calls, and through our annual review. We ensure our members and guest5 feel respected and valued. The Chartly aims to protect personal data, and never sells to, or exchanges such data with, other organisations. We are always happy to receive feedback on any aspert of ourwork, and we aim to deal with any problem5 or complaints quickly and efficiently. There have been no complaints about fundraising in the last year.
PLANS FOR FLrruRE PERIODS The Company ha5 an historit tradltlon of dispensing monies to diverse charitable causes, and it is the intentlon of the Trustee to maintain thi5 tradition in the future. The Trustee 15 satisfied with the policy for awarding grants and with the funding of the Charity. For 202512026. the level of charitable giving is expected to be in the order of £1.3 million, excluding furidraising events. This figure has been set assuming that the Company will not be in 8 position to make signrficant donation to the Charity in the coming year. The demand for fundin& con5iderin8 the number of applicatlons we continue to receive, is likely to remain high. We will need to focus and make difficult decisions about which applicatlons are approved and which ones are not. In addition to our regulargrant-making, the key alm next year ts to review our funding criteria to achieve a higher conversion rate from application to grant award. STRUCTURE. GOVERNANCE & MANAGEMENT Bad(ground The Grocer5, Trust Company Limited 1.the Trustee'l, was established in 1968 as a Corporate Trustee, with a paid-up share tapital of £100, and its 5h3res are wholly-owned by The Worshipful Company of Grocers 1.the Company"). The Trustee's dlrectors are the Master and Second Warden of the Company, together with the Senior Member, Chairmen of the Education & Chartlies and the Finance Committees, and the Clerk. The Grocers, Charity I'the Chariv) wa5 established by deed of trust also in 1968 and is administered by the Trustee. The Charity operates as the chaTltèble arm of the Company, a City of London Livery Company that has been in existence since the Middle Ages. All officers of the Charity are either members or employees of the Company. The Charity is supported financially by the Company and by personal contribution5 from its members. The Trustee 15 responsible for: Approving the annual budget of the Charitv. Reviewing the management accounts of the Charity. Approving the Charity's statutory annual accounts. Approving the Trustee's annual report on the Charity. SubTnission of the Charity's statutory account5 to the Charity Commission. • Scrutiny and approval, if appropriate, of recommendations made by the Court of A5SiStants of the Company I'the Court"), relating to grants and associated activities of the Charity. Oversight of the Charity's investments. In order not to increase costs. most of the above-listed duties have been delegated to the Company or external advisers, as detailed below.. The Finance Committee of the Company- Financial oversight of the Charity, prepaiatlon of the annual budget, management and statutory actounts and the Trustee's annual report. The Education & Charities Committee of the Company- Responsibility forErant-making. The Master and Second Warden together with up to six other Court Members, all of whom are elerted for a fixed term of office, form the Committee. This Committee recommends grants to 5Ultable applicants to the Court, which in turn considers such grants for recommendation to the Trustee. Rathbone Investment Management Limited - management and custody of the Charity's investments. Dayto day management of the Charity 15 carried out bythe Clerkto the Company. He is supported bythe Chartty Manager 3nd the Company's Finance Dlrecior.
Inductlon and Training of members of the Education & Charities Committee Court Members are elected from the Livery in accordance with the constitution of the Cornpany. Followingtheir election, newly appointed Court Members are briefed by the Clerk, in his capacity as Secretary to the Trustee. as to the objectives and activitie5 of the Charity. Members of the Charity Liaison Team, consÉsting of selected Freemen, Liverymen and Court member5, are briefed and provided with ongoing guidan by the Charity Manager. Key Management Personnel Remuneratlon The Directors of the Trustee, the rnembers of the Educatlon and Charitles Committee and the Clerk of the Company have responsibility for the management of the Charity. Neither the Directors, nor any member5 of the Committee, nor the Clerk receive any remuneration from the Charity or the Trustee. The Clerk is remunerated by the Grocers, Companv. Related Parties As noted earlier, the Charity acts as the charitable arm of the Company with which it has an integral relationship. As the act of charitable 8ivin8 is regarded as a tenet of the Company, it will endeavour to secure the continued existence of the Charity. From a legal perspective, the Company is related to the Charity as owner of all the Share capital of the Trustee. The Charity is a participating employer of the Grocers. Group Personal Pension Plan. Court Members who may have conflicts of interest are required to advise the Charity accordingly. and to abstain from all related deci5ion-making discu55ion5. Detai15 of related party transactions are disc105ed in the note5 to the accounts.
REFERENCE AND ADMINISTRATIVE DETAIL5 CHARITY REGISTRATION NUMBER: 255230 CORPORATE TRUSTEE.. The Grocers, Trust Company Limited DIRECTORS OF THE CORPORATE Mr Guy Chisenhale-marsh Ire5igned 31" July 20251 TRUSTEE.. Sir Charles Bowman Iresigned I" August 20241 Mr Edward Campbell-johnston (appointed l August 20241 Mr Henry Colthurst Mr Timothy Guinness Iresigned l August 20241 Mr Giles Mounsey-Heysham (appointed I" August 20241 Mr Edmund Stewart Smith lappointed I" August 20251 Mr Tobias Stubbs Brigadier Greville Bibby CBE SEThLOR: The Grocers, Company SECRETARY TO THE TRUSTEE.. Brigadier Grevllle Blbby CBE CHARITY MANAGER: Ms Michelle Molyneux PRINCIPAL OFFICE: Grocers, Hall Prince5 Street London EC2R 8AD AUDITOR: Buzzacott Audit LLP 130 Wood Street London EC2V 6DL BANKER: Bank of Scotland plc 25 Gresham Street London EC2V 7HN INVESTMENT CUSTODIANS.. Rathbone Nominees Limited Port of Liverpool BuildSng Pier Head Liverpool L3 INW INVESTMENT MANAGER: Rathbone Investment Management Limited 30 Gresham Street London EC2V 7QN SOLICITORS.. Charlès Russell Speechlys LLP 5 Fleet Place London EC4M 7RD
10 THE GROCERS, CHARITY STATEMENT OF TRUSTEE'S RESPONSIBIUTIES The Trustee is responsible for preparing the Tru5tee'5 report and accounts in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustee to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the income and expenditure of the Charity for that period. In preparinE these account5. the Trustee is required to.. select sultable accounting policies and then apply them consistentlyi observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021,. make judgements and estimates that are reasonable and prudent,. State whether applicable United Kingdom Accounting Standard5 have been followed, subject to any materlal departures disclosed and explained in the accounts,. and prepare the accounts on the going concern basis unless tt is Inappropriate to presume that the Charlty will continue in operation. The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the ChaTiVs transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provision5 of the trust deed. It also 15 re5pon5ible for safeguarding the assets of the Charity, and hence for taking reasonable steps for the preventoon and detection of fraud and other irregularities. Approved by the Trustee on and signed by.. kEJ f Mr Henry Colthurst Director of The Grocers, Trust Comp3ny Limited
INDEPENDENT AUDITOR'S REPORTTOTHE TRUSTEE OFTHE GROCERS, CHARITY Opinion We have audited the accounts of The Grocers, Charity (the 'ChartWI for the year ended 31st Juty 2025 which comprise the statement of financial activities, the balance sheet. the cash flow statement and the notes to the accounts includin8 a summary of principal accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunrted Kingdom Generally Accepted Accounting Practicel. In our opinion, the accounts.. give a true and fair view of the state of the Charity's affaiTS a5 at 31st july 2025 and of its income and expenditure for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our respctnsibilitles under those standards are further described in the auditor's responsibilities forthe audit of the accounts section of our report. We are independent of the Charity In accordance wtth the ethieal requirements, that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evi(lence we have obtalned Is sufflclent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the accounts, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the accounts is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatingto events or conditions that, individually or collectively, may East significant doubt on the CharitV'5 ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue. Our responsibllitles and the responsibilities of the Trustee wtth respect to going concern are described in the relevant sections of thi5 report. Other information The other information comprises the information included in the annual report and accounts. other than the accounts and our auditor'5 report thereon. The Trustee is responsible for the other information. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon. Our re5POf15ibility is to read the other information and, in doing 50, consider whether the other information is rnaterially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misStatement5, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
12 Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material mi55tatements in the pOrt of the Trustee. We have nothin8 to report in respect of the following matters in relation to which the Charities IAccounts and Report51 Regulations 2008 requires us to report to you if, in our opiz)ion: the information given in the report of the Trustee is inconsistent in any materlal respect with the accounts,. or sufficient accountinB records have not been kept; or the accounts are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responsibilities of Trustee As explained more fully in the statement of Trustee's respon5ibilitie5, the Trustee 15 responsible for the preparation of the accounts and for being satisfied that they Eive a true and fair view. and for such internal control as the Trustee determines is nece55ary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the accounts, the Trustee Is responslble for assessing the Charitws ability to continue as a goin8 concern, di5c105ing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquldate the Charity or to cease operations, or has no realistic ilternative but to do so. Audito¢s responsibilities for the audit of the accounts We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan with the Act and relevant regulation5 made or havin8 an effect thereunder. Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that Includes our opinlon. Reasonable a$5urance is a high level of assurance, but is not a Buarantee that an audit conducted in accordance with 15As IUKI will alway5 detect a materi31 mlsstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the ba515 of these accounts. Irregularities, including fraud, are instances of non-compliance with laws and regulatior15. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respert of irregularities, including fraud. Our approach to identrfying and assessing the risks of material misstatement in respect of irregularities, including frau(I and non-compliance with laws and regulation5, was a5 follow5- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilitie5 and skills to identify or recognise non-compliance with applicable laws and Tegulations,. we identified the law5 and regulations applicable to the Charity through discussions with those charged with governance and other management. and from our knowledge and experien of the sector,. we focused on specific laws and regulations which we considered may have 3 direct material effect on the accounts or the operations of the Charity, including the Charities Act 2011 and the financial reportingframework referred to above- and we understood how the Charity Is complying wlth those legal and regulatory frameworks by making enquiries of managernent. We corroborated our enquiries through our review of the minutes of meetings of those charged with governance. We assessed the susceptibility of the Charity's accounts to material misstatement. including obtaining an ttnderstanding of how fraud might occur. Audit procedure5 performed by the engagement team included.. making enquirie5 of management as to their knowledge of actual, suspected and alleged fraud- and considering the internal controls in place to mitEate ri5k5 of fraud and non-compliance with laws and regulations.
13 Auditorfs responsibilities for the audit of the accounts Icontinuedl To address the risk of fraud through management bia5 and override of controls, we.. performed analytiC31 produ$ to identify any unusual or unexpected financial relationships,. • tested journal entries to identify unusual transactions,. performed substantive testing of expenditure including testing the authorisation thereof. Sn response to the rlsk of Irregularities and non-compliance with laws and regulations. we designed prOdureS which included, but were rhot limited to.. reading the minutes of meetings of those charged with governance,. and enquiring of management a5 to aLtual and potential litigation and claiffl5. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial tran5attions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustee and other management and the inspection of regulatory and legal correspondence. if any. Material mlsstatements that arlse due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or colluslon. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's web51te at www.frc.org.uk/auditorsre5ponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the Charltvs Trustee, as a body, in accordance with Part 4 of the Charities (Accourbts and Reports) Regulations 2008. Our audit work has been undertaken so that we might State to the Charity's Trustee those matters we are required to State to it in an auditor's report and for no other purpose. To the fullest exlent permitted by law, we do not accept or assume responsibility to anyone otherthan the Charity and the Charity's Trustee as a body. for our audit work, for thi5 report, or for the opinions we have formed. Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL 11 kn 2o)LS Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companie5 Act 2006
14 THE GROCERS, CHARITY STATEMENT OF FINANCIAL ACTIWTIES FOR THE YEAR ENDED 31ST JULY 2025 Permanent Expendable Endowment Endowment Restricted UnrÈstricted Totèl Funds Total Funds Funds Funds Funds Funds 2025 2024 Note Income and endt)wments from.. Donations Legacies Investments Total income 135,297 149,353 284,650 295,982 62.970 768,208 1 127.160 22.270 157,567 561,245 710,598 583,515 868.165 EKpènditure on: Raising funds Fundraising expenses Investment manager fees Expenditure on charitable activitles Grant-making Total expendlture 30,816 30,816 111.757 35,344 109.122 52,365 59,301 91 4,5,6 138,531 169J47 1.515.982 1.516,073 1,654.513 1,260,369 1,797.086 IA04.835 SL365 Net expenditure before investment gains Net gains Dn investments 152,3651 859,507 159,3011 111,7801 1805.4751 1928.9211 1277.6751 950,584 23,101 1.833.192 3 508,617 NET INCOME/IEXPENDITUREI 807.142 891,283 111.7801 1782,3741 904,271 3,230,942 Transfers between funds 11,12 11,000,000) 2,105 997.895 NET MOVEMENTIN FUNDS 807,142 {108,7171 19.6751 215.521 904,271 3.230,942 Balances brought forward at begirtrting of year 17.519.331 19,845.266 163,604 177,431 37,705,632 34h74,690 Balan$ carried fonvard at io,ii, end of year 12 18.326A73 19.736.549 153.929 392.952 £38,609.903 £37,705,632 The result for the year is wholly attributable to continuing operations. There are no recognised gains or losses or other movements in funds for the year, other than as stated above. The 2024 amounts are analysed by fund in note 2 to the accounts. The notes on pages 17 10 30 form part of these aGcounts
15 THE GROCERS, CHARITY BALANCE SHEEr 31STJULY 2025 Permanent Expendable Endowment Endowment Fund5 Furtds Re5tri¢ted Funds Unrestrlcted Total Funds Fund5 2025 Total Funds 2024 Note FIXED Ass5 Investments 18 264.851 18.264,851 19,741339 19741,339 474.428 38,480,618 474.428 38,480,618 37 562 326 37,562,326 CURRENT ASSETS Debtor5 Cash at bank 75 154 029 6,S47 75.5581 169,0111 6.622 144,541 151.163 7,901 156,223 164.124 66.070 66,070 154.104 CURRENT LIABILITIES Creditors 14,4481 14,7901 11751 112,4651 121,8781 120,8181 NET CURRENT ASSETS I ILIABILITIESI 61,622 153 929 81,476 129.285 143.306 TOTAL ASSETS LESS CURRENT LIABILITIES 18326,473 io 19.736 549 li 153 929 392.952 £38,609 903 £37.705,632 Note 12 The 2024 amounts are analysed in note 3 to the ateounts. Approved by the Trustee on and signed on its behalf bv- iolIAl3oas Mr Henry Colthurst Director of The Grocers. Trust Company Limited The notes on pages 17 to 30 fomi part of these accounts
16 THE GROCERS, CHARITY CASH FLOW STATEMENT FOR THE YEAR ENDED 31sr JULY 2025 2025 2024 Cash flows from operating activities: Net cash used in operating activities 11,490,560) 1,017,829) Cash flow5 from investing acttvities: Dividends and interest Proceeds from the sales of financial investments Purchase of financial investments Net ¢a5h provided by investlng actlvltles 563,978 10,742,718 19,778,478) 1,528,218 742,038 12,107,558 112,192,075) 657,521 Change in cash and cash equivalents in the reporting perlod £37,658 £(360,308) Change in cash and cash equivalents in the reporting period Cash at the beginning of the reporting period Exthange differences on investment cash Cash and osh equivalents at the end of the reporting period 37,658 257,549 9,067 £304,274 1360,3081 611,380 6,477 £257.549 Reconciliation of net income to operatlng cash flows Net income for the year 904,271 3,230,942 Adjustments for: Dividends and interest Gains on investments Decrease/llncreasel in debtors Increase in creditors Net cash used in operating artivities 1563,9781 11,833,192) 1.279 1,060 £11,490,560) 1742,0381 13,508,617) 11,6061 3,490 £11,017,829) Analysls of cash and cash equivalents and reconciliation of net funds l August 2024 Cash flows Other non- cash movements 31 Julv 2025 Cash at bank and in hand Cash held by investment managers Total cash and cash equivalents 156.223 101,326 257.549 111,6821 49,340 37,658 144,541 159,733 £304,274 9,067 9,067 The notes on pages 17 to 30 form part of these accounts
17 ThE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31ST JULY 2025 I. ACCOUNTING POLICIES a) Basis of accounting The accounts have been prepared in accordance with the Charity's Trust Deed, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, Accounting and Reporting by Charitie5: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. and the Charities Act 2011. The Charity constitutes a public benefit entity as defined by FRS 102. The Charity has one subsidiary fund. The Grocer5, Company Queen's Golden jubilee Scholarship Fund. The Charity is exempt from the requirement to prepare group accounts as the subsidiary is a Special trust and its accounts are aggregated within those presented here. The Trustee considers that there are no material uncertainties about the Chariffs ability to continue as a going concern. No Significant estimate5 orjudgements have been applied by the Trustee in preparing the accounts. The accounts are presente(l in sterlin& rounded to the nearest pound. b) Income recognition All income is recognised when the Charlty has entitlement to the income, it is probable that the income will be received, and the amount of income can be measured reliably. Donation5 and similar income are included in the year in which they are receivable. which is when the Charity becomes entitled to the resource. Legacies are recognised on a case by case basis following the granting of probate, when an executor for the estate has confirmed in writing both the amount and expected settlement date. In the absence of any specific direction, legacies are recogni5ed as expendable endowment. Gifts of investments are recorded at their market values at the date of transfer. In the event that a Eift is in the form of an 05set other than cash or investments, recognition 15 subject to the value of the gift being measured reliably and the title to the asset having been transferred to the Charity. Investment income, comprising dividends and interest from investments and bank interest on deposits held, is recognised when reivable. c) Expenditure recognltlon All expenditure 15 included on an accruals basis and is recognlsed when there 15 a legal or constructive obligation to make the payment, it is probable that settlement will be required, and the amount can be measured reliably.
18 THE GROCERS. CHARITY NOTE5 TO THE ACCOUNTS 31STJULY2025 I. ACCOUNTING POLICIES {continuedl Grants payable are included in the statement of financial activities when approved and the intended recipient has been informed of the decision to make the grant, unless the grant is dependent on performance conditions Set by the Charity that result in the Charity retaining the discretion to avoid the expenditure. Where such conditions are set, the future grant is disclosed as a commitment. dl Donated A55ets As stated previously, in the event that a gift is in the form of an asset other than cash or investments, recognition is subject to the value of the gift being measured reliably and the title to the asset having been transferred to the Charity. el Investments Investments are initially recognised at their transaction values and are subsequently valued at their fair value5 as at the balance sheet date using their closing quoted market prices. Gains and losses on disposal and revaluation of investments are credited or charged to the statement of financial activities. Fund accountlng Endowment funds comprise monie5 which must be held as capital. Permanent endowment funds must be permanently retained by the Trustee, and cannot be spent as if they were income. Where the Trustee has a power of discretion to convert endowed capital into income, the fund is known as an expendable endowment. Income arising from the permanent and expendable endowment funds is credited to general funds and applied for general purposes, except where the terms of the endowment state that it must be used for a specific purpose, when the income 15 credited to restricted funds. The Trust Deed allows the Trustee to transfer, at any time. part of the general funds to either the permanent or expendable endowment funds. Restritted funds comprise monies raised for, or whose use is restricted to, a specific purpose, or contributions subject to donor-imposed conditions. General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the Charlty's charitsble objects. gl Penslons Contributions to the Grocers, Group Personal Pension Plan are included in the statement of financlal activities when payable. h) Taxation The Grocers, Charlty is a gIStered charity and, therefore, 15 not liable for income or corporation tax on income and gains derived from its tharitable and investing activities.
19 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31STJULY 2025 2. PRIOR YEAR COMPARAnvES STA TEMEAITOF FINANCIAL AcfiviTIES Permanent Expendttble Endowment Endowment Restrfrted Unre5trirted Totol Fund5 Funds Funds Fund5 Funds 2024 llote Income undEndowments Donotions Legucies Investments 151,509 144.473 295,982 62,970 739,234 768,208 883 707 1,127,160 62,970 Total Income 62,970 180,483 Expenditure on.. Roisingfvnds Fundmising expenses Investment mtsrtogerfees Expenditure on churitsble uctivities Gnint-moking rotalexpenditure 35.344 35,344 109.122 50,680 57.380 1,062 4.5.6 150 215 1,110,154 1.111216 1,260,369 1,404,835 50.680 185.559 Net fexpenditure}/income befvre investment gains t7nd 1055g5 Netgains on Investments 150.6801 5,590 1,627,263 1 799.693 15,Q761 f227.509) (277.675) 81,661 3.508.617 NETINCOME/{EXPENDITUREI 1.576,583 1,805.283 {5.076J f145,848) 3,Z30,942 Transfers betweenfunds 12 1,201 fi,201) NETMOVEMENTIN FUNDS 1.576.583 1.805,283 13,8751 1147.049) 3,230.942 Bolunce5 broughtforword ot beginnlng olyeor 15,942,748 I8.039.93 16Y,479 324,480 34.474.690 Bolances corrledforward at 10,11, end of yeor 12 17.519.331 19.845.266 163,604 177431 £37.705.632
20 THE GROCERS. CHARITY NOTES TO THE ACCOUNTS 315TJULY 2025 3. PRIOR YEAR COMPARATIVES BALANCESHEET Pern70ftent Expenduble Endowment Endowment Funds Funds Restrirted Funds Unrestricted fotal Fund5 Funds 2024 Note FIXED ASSETS Investments 17.457,903 17.457.903 19,307.812 19,307,812 796,611 37,562,326 796,511 37,562,326 CURRENT A55ET5 Debtors Cosh ttthonk 2.433 163.604 166,037 5,468 615,552 f610,084J 7,901 156.223 164,124 65.783 65.783 542,388 542,388 CURRENTLIABILITIE5 CTeditors 14.355) 14,934) r2,433y {9,096) (20,818J NET CURRENT ASSET5 1 ILIABILITIESJ 61,428 537.454 163,604 619.180 143.306 roTAL ASSETS LESS CURRENT UABILITIES 17,519,331 io 19.845.266 li 163.604 12 177 431 £37 705.632 Note
21 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31ST JULY 2025 4. EXPENDITURE ON CHARITABLE ACTIVITIES Grants Payable Staff and Governance Costs Total Grant-making 2025 Grant-mgking 2024 1,540,329 1,152,598 114.184 107,771 £1,654,513 £1 260.369 Grants payable were made in the following categories.. 2025 2024 Education Relief of Povertv Health Youth Disability Environment The Elderly Churches Arts & Heritage Mi5itary Total 645,937 244,425 144,874 191,319 61,401 57,300 49,340 45,5 69,043 31.190 EI,540,329 357,494 179,663 206,259 118.869 61,274 23,081 48,310 44,598 69.247 43,803 £1,152,598 A list of all grants of £1,000 or more payable in the year is presented in Note 15. No grants are payable to individuals. Although no legal obligation exists, the Charity is committed to grants totalling approximately £400,000 per annum on a continuing ba51S. 5. STAFF COSTS staff costs relate to one full-time member of stsff12024- 11= 2025 2024 Salaries Social security cost5 Pension costs Temporary staff Other staff costs Totsl 56,516 6,934 15,368 21,101 2,379 £102,298 53,829 6.173 14,224 17,068 3.318 £94,612 Temporary staff costs relate to two Freelance Charity Assistants engaged to 5iaise with our partners in the education sector and support the Charity Fundraising Dinner. There were no employees who received remuneration of more than E60,00012024- none). The Directors of the Trustee, the members of the Education and Charities Committee and the Clerk of the Company have responsibility for the management of the Charity. Neither the Directors, nor any members of the Committee, nor the Clerk receive any remuneration from the Charity or the Trustee. The Clerk is remunerated by the Grocers, Company.
22 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31ST JULY 2025 6. GOVERNANCE COSTS 2025 2024 Audit fee5 Subscriptions, printing and bank costs Total 8.898 2,988 £11,886 9,341 3,818 £13,159 7. INVESTMENTS 2025 2024 Quoted Securitles Market Value At beginning of year 37.461,000 33,874,343 Additions Disposals Gains At end ofyear Cash held by investment managers Total market value at 31st July 2025 Historical cost At end of year 9,778,478 110,742,718) 1,824,125 38,320,885 159,733 £38,480.618 12,192,075 112,107,558) 3 502,140 37,461,000 101326 £37 $62,326 £30 510.845 £31954 810 Exchange gains on investment cash of £9,067 12024: £6.4771 form part of the investment gains in the statement of financial activities. The only significant holding as at 31st July 2025 was SPDR Series Trust S&P 500 ETF which represented 17.1% of the total portfolio12024- SPDR Series Trust S&P 500 ETF116.8%1. 8. DEBTORS 2025 2024 Income tax recoverable Prepayments and accrued interest 5,596 1,026 E6,622 7,743 158 £7,901
23 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31STJULY2025 9. CREDITORS- amounts falling due within one year 2025 2024 Accruals and deferred income Other creditors 18,958 20,368 450 £20,818 £21,878 10. PERMANENT ENDOWMENT FUNDS Balance as at 1st August 2024 Expendlture, Gains and Losses Balance 45 at 31st July 2025 Grocer5, Conipany Dame Margaret Slaney Mercers, and Waterford Total 17,287,734 210,683 20,914 £17,519,331 797,467 9,727 1521 £807,142 18,085,201 220,410 20.862 £18.326.473 Bulance a5 at IstAugust 2023 Expenditure, Galns and Losses Bolance as ut 31st July 2024 Grocer5, Company Dume Morgoret Sloney Mercers. ond Waterford Totol 15,730.134 191,685 20,929 £15,942,748 1.557,600 18,998 {15J £1,576,583 17,287, 734 210,683 20,914 £17,519.331 The main fund comprise5 the value of the original funds and subsequent donation5 settled into the Charity by the Grocers, Company and its subsidiary company, The Grocers, Investment Company Limited, together with the associated net appreciation or diminution in the market value, as well as any realised gains or losses on disposal of the underlying investments. On 6th July 2006, with the concsjrrence of the Charity Commission, the assets of the Dame Margaret Slaney charity were transferred to the Charity ullder 5.74 Charities Act 1993. Income arising is restricted to Church Livings. The Mercers, and Waterford endowments are held to support an educational scholarship and to meet specific church expenditure respectively. These funds must be retained by the Trustee and hence are not available for distribution.
24 THE GROCERS, CHARITY NOTE5 TO THE ACCOUNTS 31ST JULY 20Z5 11. EXPENDABLE ENDOWMENT FUNDS Balance as at 1st August 2024 Income Expenditure, Gains and L05se5 Transfers Balance as at 31st July 2025 Grocer5, Company Queen's Golden Jubilee Scholarship Total 18,157,859 814,320 11,OOD,0001 17,972,179 1.687,407 £19.845,266 76,963 £891,283 (1.000.oooI 1,764,370 £19,736.549 Bolonce as Gt 15tAugust2023 Income Expenditure, Guins and Losses Tran5fer5 Bulttnce 05 at 31st July 2024 Grocpts, Company Queen s Golden Jubilee ScholorshAP Total 16,502,951 62.970 1,591.938 18,157,859 1.537.032 £18,039,983 150,375 £1,742,313 1,687,407 £19,845,266 62,970 The Grocers. Company fund was established in 2007, using donations from the Company, enabling income recelved thereon, and capital if required. to be used in support of the Charitys objective5. The Grocers, Company Queen's Golden Jubilee Scholarship Fund wa5 established in 2003 as a special trust to commemorate the Golden Jubilee of Her Majesty Queen Elizabeth11. It was funded by a donation of £500,000 from the Company. The Fund is held for the advancement of education by the provision of scholarships, in particular (but without limitation) to students in tertiary education. As at 31" July 2025, £1,000,00012024-nill was transferred from the Grocers, Company Endowment Fund to unrestricted fund5. This was made up of a transfer of investment cash of £604,208 and investment funds of £395,792.
25 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31sfJuLY 2025 12. RESTRicfED FUNDS Balance as at 1st August 2024 Income Expendlture Transfers between funds Balance as at 31st July 2025 Dame Margaret Slaney Mercers, and Waterford Queen'5 Golden jubilee Scholarship Fundraising Campaigns and Events Restricted donations Total 3,292 403 (5,0(KJl 18CX)I 1,708 397 83,273 18,575 125,2501 76,598 129,397 5.900 £157.567 1129,3971 18,9001 £1169,347) 80,331 £163,61)4 77,331 £153,929 £2,105 Bolonce a5 at 1st August 2023 Income Expenditure Transfers between fund5 Balance as at 31stJuly 2024 Dome Marg(JretSloney Mercers, and Woterford aueen's Golden Jubilee Scholorshlp Fundraising Campoigns t7nd Events Restricted donotion5 Total 4,288 311 15,0(lOJ (800) 712 489 84,148 24,375 125,250) 83,273 151,509 f151,509J 3,000) £1185 559) 83,331 £167,479 80,331 £163.604 £180,483 £1,201 The deficits on the Mercers, and Waterford endowments, and Dame Margaret Slaney en(lowment, are cleared by transfers from unrestricted funds as nece55ary, on an annual basis.
26 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS 31ST JULY 2025 13. TRANSACTIONS WITH THE TRUSTEE AND CONNEcfED PERSONS The Trustee and its director5 received neither remuneration nor reimbursement of expenses during the years ended 31st July 2024 and 2025 from the Charity. The Clerk of the Grocers, Company, who is a Director of the Grocers, Trust Company Limited ITrusteel, 15 remunerated by the Grocer5, Company. The Charity awarded a total of £475,000 in the financial year12024'. £175,000) to Oundle School. This comprised £175,000 to support the Schoool's bursary programme, and a £300,000 donation to the Oundle School Development Fund. The Grocers, Company has been supporting the School since its foundation. Oundle's Governing Body consists of seventeen members, including eight Governors nominated by the Court of the Grocers, Company. The Charity awarded £42,800 in the financial year12024'. £42,800) to the Mossbourne Charitable Trust. The Grocers, Charity has been supporting schools within the M055bourne Federation since the foundation of the Mossbourne Community Academy in 2004. Across the four Mossbourne Schools, there are eleven Grocer Governors, including four of the eight Dirertors of the Mossbourne Federation. The Mossbourne Federation nominates all Governors across the four schools and the Directors of the Federation. On occasion, a member of the Education and Charities Sub-committee, or a director of the Trustee, is also the Trustee of a charity that is the subjert of a grant funding request being considered at an Education and Charitie5 Sub-committee meeting orTrustee meeting. In these case5, the Charity follows its usual procedures regarding conflict5 of interest and the member is excused from discussions or decisions relating to the app5ication. The Grocers, Company made a restricted donation to the Grocers, Charity Fundraising Dinner of £30.CMJo {2024'. £35,000). It made further restricted donations of £2,000 for the Snow Camp Charity and £3,000 to the Coldstream Guard5, Charitv. 14. PENSION COMMITMENTS Defined contribution Scheme New employees are entitled to join the Grocers, Group Personal Pension Scheme, with the Charity contribtjting between IO% and 25% of their pensionable Salaries to their personal pension funds, after an initial period of employment. The employee's contribution is between 3% and 5% of pensionable salary. From August 2022, employees were given the option to join a salary sacrifice scheme, where an amount equal to the Sum of the employee's and employerfs contribution is contributed solely by the employer. in return for a equivalent reduction in the employee's salary. The assets of the Scheme a held separatelyfrom those of the Charity in independently managed investment fund5.
27 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31sr JULY 2025 15. UST OF GRANTS Multiple grants to one charity are totalled together. Arts & Heritage Art History Link-up Ealing Croquet Club Ffotogallery Good Vibrations Sheffield General Cemetery Trust St Paul's Cathedral Foundation The Boston Preservation Trust Stitches in Time Finborough Theatre Twisting Ducks Theatre Companv English National Ballet Embracing Arts 4BBLE Theatre Magic Lantern Bristol Women's Voice Oxford Oratory of St. Philip Neri Under £l,000121 Disability Families in Care Access Adventures Blind in Business Trust FAIR Ltd. Idlewild Animal Sanctuary Just The Job Enterprise Limbless Association New Forest Mencap Opening Doors Remap WC Crash Wheelchair Rugby Up on Downs Living It Up £5,000 £5,000 £5,000 £5,000 £5,000 £5,OCx) £5,000 £4,950 £4,500 £4.493 £4,200 £4,000 £3,500 £3,000 £2,500 £2,000 £900 £8,000 £5,000 £s.000 £5,C0 £5,000 £5,000 £5,000 £5,000 £5.000 £5,000 £5,000 £1,960 £1,441 £69,043 £61,401 Elderly Age Concerrb North Norfolk Basingstoke Neighbourcare Brighter Together Easington Lane Community Access Heron Corn Mill IBeethaml Ltd Men in Sheds C&G Omega Pennywell Neighbourhood Centre The McCarthy-Dixon Foundation Nephra Good Neighbours Under £l,000111 Environment Atlantic Salmon Trust HiEhlands Environment Foundation Friends of Cotteridge Park Plastic Free North Devon Red squirrel survival Trust SHARE Oxford SongBird Survival Strathglass Community Fund Trussell Trust 8orde Hill Garden Limited £5,000 £5,000 £5,000 £5,000 £5,000 £5,000 £5,000 £5,000 £4,940 £3,900 £500 £io,o(J) £10,000 £5,OC £5.0(J) £5,OCKJ £5,OCK) £5,OCX) £5,0(X) £5,0 £2.3CrfJ £49,340 £57,300
28 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31ST JULY 2025 15. LIST OF GRANTS Icontinuedl Health The Brendoncare Foundation Action on Postpartum Psychosis Be Free Young Carer5 BEAT BEfriend GOSH Growing Well Home-start Reading InterAct Stroke Support MQ Mental Health Research My Life Neuroblastoma UK Orchid Cancer Appeal Our Special Friends Project MAMA Restored Youth Escapeline Wytombe Youth Action BelEve Beyond the Horizon Charity Charlie Waller Trust Circle Community First Star scholars UK Just-lce Poynton Link to Change London Village Network Minority Matters LTD Naked Truth Project Nottingham CYF Project OurTime Pedestrian Ltd Revive Healthy Living £10,000 £5,000 £5.000 £5,000 £5,ODO £5,000 £5,000 f 5,0(X) £5,OCM) £5,000 £5,000 £5,000 £5,000 £5,000 £5,0(X) E5,OtK) £50,791 £5,400 £5,(K)O £5,000 £5,OC() £5,0(Kl £5,0(JJ £5,000 £5,000 £5,000 £5,000 £5,0(K) £5,OQX) £5,OCK) £5,0(JJ £5,000 IILI Teapot Trust SCIO The Royal Marsden Cancer Charity Underground Lights West Kent Mind The Ickle Pickle Partnership Whittington Hospital The Compassionate Friends Sarcoma UK Diversity Matters North West The Anthony 5eddorb Fund Blythe House Hospice Treatment Bag Rainbows Hospice Oakhaven Hospice Trust Royal Humane Society (The) Alzheimer's Society Under £l,CA)0171 £5,OQKJ £5,000 £5,000 £5,000 £4,750 £4,741 £4,500 £4,324 £3,500 £2,800 £2.6(XJ £2,5CIJ £2.444 £2,000 £1,608 £1,512 £2,595 Speakers, Trust SPLASH Start Young UK The 81G Project The Kiyan Prince Foundation The Stockwell Charitable Trust The Ulysses Trust With Insight Education JIGSAW Thornbury Godolphin Cross Community Young Minds Matter Snow Camp Chichester City Centre Drop In BME Young People's Project Under El,000161 £5,000 £5,000 £5,LKIO £5,(KJO £5,000 £5,000 £5,000 E5,OCMJ £4,936 £4,620 £4,012 £3,620 £3,000 £2,000 £2,940 £144,874 £191,319
29 THE GROCERS. CHARITY NOTESTO THE ACCOUNTS YEAR ENDED 31ST JULY Z025 15. LIST OF GRANTS Icontinuedl Churches St Mary-le-Bow, Cheapside St Peter's Church, Wrockwardine St Stephen. Walbrook St Michael & All Angels, Waterford All Ha51ows, Bromley-by-Bow PCC All Saints Church PCC, Caldecote St 8arnabas. Homerton St John the Baptist, Parish of Stone St Ladoca, Ladock St Mary Bow & HolyTrinity Bow St Mary Virgin, Northill PCC St Mary's Church, Bucknell St Matthew, Highfield St Peterfs Church. Ugborough Oundle Parish Church (St Peter'sl Under £l,000121 Military Anxious Mind5 Little Troopers M.M. National Gulf VeteranslFamilies UK Veterans Hearing Foundation First Aid Nursing Yeomanry The Coldstream Guards Charity ABF The Soldiers, Charity Armed Forces Para-snowsport Team Under £l,LKJO111 £10,000 £5,000 £5,000 £2,800 £2,QKJO £2,000 £2,0 £2,OCKJ E2,Otx) £2.OCtJ £2,OCX) £2,00 £2,000 £2,000 £1,500 £5.000 £5,000 £5,000 £5,IX)O £4,000 £3,CKJO £2.000 £2,000 £190 Irr. I £1,200 E45,500 £31,190
30 THE GROCERS, CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 315TJULY 2025 15. UST OF GRANTS Icontinuedl Relief of Poverty 3 Pillars Projert Bramber Bakehouse No Going Back SJ Noble Trust Voluntary Service5 Overseas The One Love Project Barons Court Project Citizen5 Advice Dacorurn Fat Macy's Foundation Gloucestershire Bundles Homeless Support Project Humans MCR Lifeshare Ltd Melton District Money Advice POW Nottingham REFEO RESTART Lives Richmond Furniture Scheme Sal's Shoes Severn Angels Housing and Support Sheriffs & Recorder's Fund Splott Community Volunteers The Bus Shelter MK The Lord Mayor's Appeal Tools 4 Teen5 Trailblazers Mentoring Uplift (Devon) Visit From the Stork Pet Foodbank Service First Stop Darlington Derby Food 4 Thought Alliance GIos50pdale Furniture Project Sleep Pod Bassuah Legacy Foundation West Lothian Women's Aid Bexhill Rother Homelessness Unity South Craven Evangelical Church Frank Longford Charitable Trust New Forest Basics Bank Home-start North West Hampshire Under El,000131 Education Oundle School Mossbourne Charitable Trust The Elms Icolwalll Limited Imperial College London City & Guilds of London Art School City of London School for Girls St Paul's Cathedral School University College London City of London School for Boy5 Guildhall School of Music & Drama City of London Freemen's School Reed's School Royal College of Art Mansion House Scholarship Scheme City & Guilds of London Institute College of St Mary Magdalene Mossbourne Victoria Park Academy £47,790 £io,(x)o £10,000 £10,000 £10,000 £5,4CtJ £5,000 £5,000 £5,000 £5,000 £5,000 £5,OC £5,OCMJ £5,000 £5,000 £5,000 £5,0 £5,0(X) £5,000 £5,000 E5,0(N) £5,QOO E5,000 £5,000 £5,OtK) £5,0(X) £5,OCMJ £5,OCKJ £4,725 £4,580 £4,500 £4,500 £3,6(X) £3,OCKJ £3,000 £2,500 £2,500 £2,200 £2,200 £2,140 £1,790 £475,000 £42,800 £15,645 £15,000 £12,500 £10,947 £10,352 EIO,250 £10,000 £10,000 £8,000 £7,500 £6,OC() £5,0(X) £3,OCtJ £2,000 £1,943 £244,425 £645,937 £1,540,329