Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Charitable
Foundation
Trustees Annual Report and Financial
Statements
Year ended 5 April 2021
Charity Number: 281943

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods ChaTithblc Foundtstion
Trusiees Annual Report an(1 Financial Sialemen15
Yetsr ended 5 April 2021
Contents
Administrative informttion
Trusiees. TCPOrt
Independent auditofs re￿rt
Statcrnent of financial activities
9-1
12
Balallce Sheet
13
Sthiemeni of cash flow8
14
Notes

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
Thc l¢eland Foods Chariiable Foundaiion
Tnist¢e5 Annual Rtport and Financial Slaiemenls
Year endcd 5 Apnl 2021
Administrative information
Tru5tee$
Richard Walker
Sir Malcolm Walker
Tarsem Dhaliwal
Registered offJ¢e
The Iceland Foods Charitable Foundation
Second Avenue
Deeside Industrial Park
Deeside
FliIitshire
CHS 2NW
Registered charity ￿UMber
281943
B￿￿kerS
HSBC Bank plc
60 Queen Victoria Street
London
EC4N 4TR
Audltor
Grant Thornton UK LLP
Chartered Accountants & Statutory Auditor
Royal LiveT Building
Liverpool
L3 IPS

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The IcclaRd Foods Charitrablc Foundation
TTuslee5 Anniial Repon and Financial Siat¢meDts
Year elided 5 April 2021
Trustees, report
The t￿￿teeS preseni their annual report and financial ststements of the charity for the year ended 5 April 2021. The
financial statements have been prepared in accordonce with the accounting policies set out in the basis of
preparation note to Ihe aL'Lounts and Lomply with the ¢harity's trust deed, the Chariiies Act 2011 Ènd Accounting
and Reportillg by Charities.. StatcThcnt of Re¢ommended Practice applicable io charities PTeparing their account5 in
accordance with the Financial Reporting Standard appltcable in the UK and Republic of Ireland published in
October 2019.
Trustees
The ttuslees who served during the year were as follows=
Richard Walker
Sir Mal£olm Walker
Tarsem Dlialiwal
Str￿¢￿Te? gtsvernADct and mAnagement
The TNst És governed by the lernis of the principal trust deed dated 30 March 1973 and the subsidiary tNst deeds
dated 28 September 1989, 8 December 1992, 12 February 1996, 25 April 2005, 26 February 2010, 8 February 2011,
21 January 2013, 31 December 2014 and 24 October 2017.
Trustees are appointed by the Boaid of Bejatn Group Limited (the business of Bejam Group Limited was transferred
io its fellow subsidiary, Iceland Foods Lirnited some years ago).
Key management personnel remuncration
The trustees consider the board of trustees and the chief executive as comprising the key management personnel o
the charity in ¢harg¢ of directing and ¢ontrolling the charity and Nnning and operating the charity on a day to day
basis. All trustees give their time freely and no tTU5tec remuneration w85 paid in thc year. Details of trusiee expenses
and related party transactions are disclosed in note 4 and note I I to the accounts.
Trustees are rtquired to disclose all ieleyant interests and register them wilh the Chief Executive and in accordat]ce
with the Tnkst's policy withdrdw from decisions where a conflict of interest arises.
Objectives and activities
The principal objectives of the charity include=
tlie applitation of income for the benefit of such choritable purposes as the TruS￿eS may from tilnc to tirnc
deterniine and for the relief ofthe POOT, incapa¢ilated or n￿eSSit0uS employees or fomer employees of Iceland
Foods LimiÈed.
to promote all other PUTpose8 recognised as charitable under the law of England and Wales from tirne to time
to the benefit of the general public as the ijustees shall from time to time determine.
The T￿Stee$ confimi that they have referred io The guidance contained in the eh2Tity cornmission's general guidance
on Public BencfEt ivhen revi￿vIng the charity's aims and objeciives and tn planning future aetivities.

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Charitable Foundation
Trustecs Annual Repon and Financial Siatcmeiits
Y¢ar ended 5 April 2021
Achievement$
During the year the charity made the folloiving major donations=
Adion for Children
St John's Ambulance
Surfers Against Sewage
Wildlife Wol¢s
ARUK
UK Sepsis Trnsi
280,(X)O
150.000
150,000
94,0(M)
87,256
65.5(X)
The Iceland Foods ChaFitable Foundation has always had oiie simple mÉssion: to make life better for people. We aim
to achieve this by r3i5ill(F money for other good causes and by increasing public aivareness of ¢he work they do. We
are independent of ihc Iccland Foods business, and our activities are not designed to enhaiiLe Iceland's image or to
generate publicity. Wc do it simply because we believ¢ it's the righi th2ng to do.
The Covsd-19 pandemic made this a truly exceptional year for tl?e Foundation, both in the nttds it created and by
preventiiig us from holding the two annual events that are normally the tnainstay of our fundraising.. the Charity
week in Iceland and The Food Warehouse stores. and our charity golf day. This wa5 reflected in the very substantial
rcductiot) in the charity's income during thc ycar.
Fortunately. Ihe substsntial revenues gcncrated by the sale of Sp single-use plasti¢ ¢arrier bag5 in Iceland and The
Food Warehouse stores up to October 2018 had enabled us to build up subsiantial reserves which not only allowed
us io respond quickly and effe¢iively to the need5 creakd by the pandemic, but also to mairstaiD ow estsblished
pattern of giving io medical charities and eDvironThLcntal good causes.
All monies raised for the ¢harity are banked and reconciled weekly to reduce the risk of loss or fraud.
We understand the legal rules that apply lo vaTiOUS types of fitndraising and ensuT¢ that we cornply ivith the
Fundraising Regulator's Code of Fundraising Ptaciice.
Impact of our fundraising
We wani our fundraising ond giving to ynake a real dÈfference io the organisaiioDS W¢ SUPPQrt. Often this rneans
Ch(￿$1￿0 to focus on unfashionable Causes and smaller Lhaiiiies. The £3.2 million we donated to Aizhetmer's
Researeh UK between 2011 and 2014 represented a material increase in the charity's income, and henLe its Ability to
advance medical research in an area that 15 massively underfut]ded Lompared with cancer or heart disease. Siinilarly
we donated £l.000.000 over the ten years to 2018 to Prostate Cancer UK. helping to advanee research into a disease
that has traditionally received much less funding than rnany oiher cancers.. our involvement also helped to raise the
pn)file of prostate canter and improve care.
In ihe two years to 2018 we donated £10 millton to UCL Dementia Reseawh tts fund the construction of the London
hub of the new UK Dementia Rcscarch Insiitute. Together with a further £10 million donaled by other UK retailers
through the UCL Dementia Retail Partnetship. the creaiion of which was driven by out ttustee Sir Malcolm Walker,
this played 8 critical role in triggcring additional external funding to ensure that thi5 Vital project would go ahead.
The Foundation donated a total of £889,436 to g(K)d causes during the year und¢r review.
OUT largest single donation of £280,000 to Action For Children responded to that charity's 'S¢cret Santa, campaign
to alleviaie child poverty and food insecurity by ensuring Ihai vulnerable ¢hildTen received a hot meal, a pair tsf
shoes or warni winter clothes at Christmas 2020. Our dotydtion represenÉed a £10 gift on behalf of each of Iceland's
28,000 employees.
A donation of £150,000 to St John's Ambulance, to 5UPPOrt thcir work during the Covid-19 pandemic, followed a
donation of thE samc &MoL￿r to Age UK'S Coronaviru% Emcrgcncy Appeal al the end of the previous financial year.

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Chamtable Foundaiion
Tnisiecs Annual Report and Fittancial Siaiements
Year ended 5 April 2021
Wc continued our long-standing support for dementia reseaich wilh a donation of £87.256 to Alzheimer's Research
UK. Also in the medical field. we donated a further £65.500 to the UK Scpsis Trust to support a jointly developed
and fi]nded campaign to raise awareness of this life-threaiening condition by making busittesses'Sepsi5 Savvy..
In the envifonmental field, we continued our support for Surfers Against Sewage with a £150,000 donation to
support their biggest-ever Million Mile Beaeh Clean and their campaigtting against ocean plastic pollution.
In February 2021 we donated £94,000 to Wildlife Wales to help them realise their ambitious plans for the fi]11
resioraiion of all Welsh peailands by 2030. with thc aim of reducing carbon emissions, restoring naiure. filtering
water and reducing flood risks for local communitics.
We also eontinued to support a rdnge of smaller charities. including local good causes nominated by CTnploy¢es in
Iceland and The Food Warehouse stores.
Financial review
During the year. incoming resources raised amounted to £365,493 (2020: £1,966,826). Donations of £889,436
(2020-. £1,565.9251 have bethi made to charitable ag%ociation51organi5ations. Support costs of £73,11512020.. £nil)
have been incuEred duting the year relating to administration and eqlliprnent. Thc closing fund balance is £3,958.249
(2020.. £4.555.3071 and will bt utiliscd ii) the future for funding charitable events and making further donations.
Rtstrves policy
The reserves policy is to ensure the charkty has 5uffieient funds to meet cosis incurred by the charity On an annual
basis. It is the trusttts, intention tliat tl?e donations granted will be largely in line with incoine. There 15 n
intention to build up a buff¢r of frec resetve5 Other than for meeting the charity's anrtual costs.
The balance held as unrestricted funds at 5 April 2021 was £3.795.458 (2020= £4,535,803} all of which is regarded
as free reserves. The unrestricted fund is held with the puipose of recording any donatjolls receiv¢d oth¢r than those
with imposed narrower uses ihan the chariiy's overall objeeiives.
The balance held as restricted funds at 5 April 2021 was £162,791 (2020.. £19,504). The charitys policy in respect
of restricted funds is to record separately any donations received where restrictions are imposed that aTe narrower
than the charity's overall objeciives.

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iteland Foods Ch2rtiable Foundaiton
TTUSlccs Anniial Rewrt and Financi21 Statements
Year ended 5 April 2021
Coing concern
The current financial statements show thc charity Maintains a strong balance sheet P051tion and cash position.
The tmpact on the charity arising from the uncertainty of the re¢eni COVID-19 outbreak ha5 been considered by the
trustees-
The trustees hav¢ r¢viewed their current reserves policy, the current cash position and the donalions committed
and granted by the charity. Based iipon the infomiation available, the trustees consider that the charity has
sufficient liquidity to ¢ontinue a¢tivities for at least the next 12 Enonths as a going concern.
As the charity raises fvnds to donate io various causes. the main risk associared with COVID-19 is in reltstion
to the ability to Tai5e funds through the Jceland Foods stores or through donations made at events put on. As a
result of the rescrves poliey that is in place and The money I'aised in previous years, the charity is not dcpendent
on incom¢ raised from future donat2ons to be able to meet ihe donations li is currently committed to paying.
The charity has cuffent liobilities of £232,670 including projects WltlJ grants pending in the next 12 months of
£232,670 {see beltsw). The balance held as unrcstricled funds on 5 April 2021 ivas £3,795,458.
Grants Pending next 12 month5
Surfers Against Seivagc
Thc Royal Found&iion
Wildlife Wales
UK Scpsis Trust
£ioo,000
£50,000
£62.670
£20.(K)O
Grants Pethdlng greater than 12 months
Surfcrs AgAinst Sewage
£50.￿0
The tntstecg therefore have o reasonable expectation that the charity has adeouate resources to continue its activities
for thc foreseeable ￿lUTe and, accordingly. the going concern basis is adopted in the preparation of the financial
statements.
Principal Risk$ ￿nCertaInt￿es
The principal risks and tsncertainiies faced by the charity are as follow&
Operational and financial risks from ineffective grant making and the capacity of the charity to m&ke ¢ffectiv¢
grants. This risk is mitigated by the trustees being involved in ihe grant making process with the knowledg¢ that
sufficient fvnds are availablc to award a grant. Grants are awarded to e8tsbli5hed chorities who are required to n3eet
appropriate financial regulatory rcquireFnettts.
Key management reports. issues and a¢tion8 are reviewed At rcgular trustee meetings. All projecrs are considered
and reviewed as part of this process as well as the ongotng strategy.
Ftsture plans
The charity will ¢ontinue to make grants in line with the objectives and distribute income received.
Trustees, Respon$ibRlities Statement
The tTUStees ale responsible for preparing the Tn]sttts' Report and the financial statements in a¢eordan¢e with
applicable law aELd regulations.
The Charities Act 2011 requires the trustees 10 prepare financial siatemenls for each financial year. The trustees
have to prepare the financial statements in accordanLe with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting StandaTds and applicable law}, including FRS 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland. The tn]stees must not approve the financial slaiements
unless they are satisfied thai they give o tru¢ and fair vitw of the stste of affaiFS of the thatiiy and of the incoming
resuuTces and application otresources, including ihe inLome and expenditure, of the charity for that period.

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Charithbl¢ Foundation
Tnislccs Annu21 Report and Financial Siaiemertts
Yeèr ended 5 April 2021
Trustees, Rcsponsibllitles Statement (continued)
In preparing thcse finan¢ial slatemenls, the trustees are required to..
select suitable aectsuThting policies and then apply them ¢onsislently-
observe the methods and principle$ in the Charities SORP {FRS 1021;
make judgnTrents and accounting esiilnates thal are rvdsonable and prudent.
stai¢ wherheT applicable UK Accounting Standards have been followed, subject to any maierial departurcs
disclos¢d and explained in the financial statements..
prepare the financial statements on the going concem basis unle55 it is inappropiiate to pre5Urn£ that the ¢haiity
will continue in business.
The tTYStees are responsible for keeping adequate accounting records that are sufficient to show and explain the
¢harity's transactions and disclose with reasonable accuracy at an), time ihe fiRancial position of th¢ ¢harity and
enable them to et]sure ihat thc financial statements LOTnply with the Chariiics Act 202 1, the Charity {A¢count5 and
Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the asset5
of the charity and hence for taking reasonable steps for the prevention and detectÉon of fraud and other irregularities.
By order of the board
Tarsem Dhaliwal
JUA
2021

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Fi)ods Charitable Fourtdaiion
Trustees Annual Report arLd Fillanfjial Siotttnents
Year ended 5 April 2021
Independent auditor's report to the trustees of The Iceland Foods Charitable Foundation
Opinlon
We have audited the financial sfatemen(s of The Iceland Food Charilable Foundation (the '¢hatity') for ihe year
ended 5 April ?021. which comprise the Statement of Financial Activilies, the Balance Sheet, the Siatemenl of Cash
Flows and notes to ihe financial statements, including a su￿￿￿TY of signifiLant accoullting policies. The financial
reporting framework rhat ha8 be¢n oppli¢d in their prcparation is applicable law and United Kingdom Accountiiig
Standaids, including Financial Reporting Standard 102; The Financial Reporting Standard opplicablo in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounting PrdCti¢el.
In our opinion, the fEnancial siatemenis-
give a twe and fail view of tl)e slate of thc chaT2ty'8 affair5 a$ at 5 April 2021 and of tts incoming resources and
application of iesources for the year then endcd.
have been properly prepared in a¢¢oTdance with United KÉngdom Generally Accepted AcLounting Practice- and
have been prepared in accordance with th¢ requirements of the Charities Act 2011.
Basis for opinion
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
regulations made under section 154 of that Act. Wc conduLted our audii in ac¢ordanLe wilh International Stsndards
on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under ihose standards are fvrther described
in the 'Audilor'.8 rcsponsibilitie5 for the audit of the financial siaiemen15' seciion ofour report. We are indcpcndent
of th¢ charity in accoixiance with ilie ethical requiFements thal are relevant to our audit of the financial statements in
the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in ac¢ordance
with thest requirements. We believe thai the audit evidence we have obtained is sufficieTrt and appropriate to
provide a basis for our opinion.
Conclusions relating to going concern
We are responsible for concluding on the appropriateness of the trustees, use of the 8oillg concern basis of
accounting and. based on the audit evidence obtained, whether a Tnaterial uncertainty exists related to events or
conditions thai may cast significant doubt on the Lharity's ability io Continue as a going concern. If we conclude that
a material uncenainty exists, we are required to draw attention in our report to the relaied disclosures in the financsal
statements or, if such disc105ures are inadequate, to modify the auditor's opinion. Our ¢on¢lusion5 are based on the
audit evidence obtained up to the date of our report. However, future event8 or condition5 may cause the charity to
Cwdse t(Tr continue as a going conctTn.
In our evaluation of the tTh￿tees, conclusions, we considered the inherent risks associared with the charity's bu5111tss
model including effects arising from macro-econornic uncertasnties such as Brexit and Covid-19. we assessed and
chzllentsed the reasonableness of estimatcs made by the trustccs and the related disclosures and analyscd how those
Fi%k5 might affeLt the charity's financial rcsources or ability to continue Operations over the going ¢on¢em period.
Based on the work we have perfonned. we have not identified any rnatersal uTrcertainties relating lo events or
condition5 that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going
¢oncern for a period of at least twelve months from ivhen the fjnancial staternents are authorised for issue.
In auditing the financial statements, Ive have concluded that the trustees, usc of tho going conccrn basis of
accounting in the preparalion of the fillancial staiemeiils is appropriatc.
The responsibilities of the ¢w5tees with respect to going concem are described in the 'Respon5ibilities of trustees for
the fitjancial statements, section of this report.

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
Thc Iceland Food5 Charitable Foundation
TTusl¢es Annual Rerrf>rt and Fsnaneial Siatemellis
Ycar endcd 5 April 2021
Other infor￿￿tiO
The trustees are responsible for the otlier infotmdtion. The other information Lompriscs the iRformatEon included in
the TTUStees' report, oiher than the finanLial staierncnt5 and our audiior's report thcicon. OUT opinion on thc
rEnanci&l Statements docs not cover ihe other infoTmation and, except lo the extent otherwise explicitly stated in our
report, we do not express any forni of assurance conclusion thereon. In connection with our audEt of the financial
statejnents, our re5ponsibilily is to re8d the othei info]7nation and, in doing so. consider whether the other
information ts materially inconsisient with the finaijtial statem¢nts, or our knowledge obtained in the audit or
othetwisc appears to b¢ materially misstated. If we identify such material inconsisiencies or apparent material
misstatements, Ive are required to detem)ine whether there is a material misstatom¢Dt in the financial statement5 or a
material rni5Statement of the other infomiation. If. based on the work we have perfomied, we conLlude that there is a
aterial rnisstatement of this other information, we are required to report thai foct.
We have noihing lo report in this regard.
Matter5 on whlch we are required to report by exception
We have nothing io report in respect of the folloiving matters where the ChaTities Act 2011 requires u5 to report to
you if, in our opinion..
thc informaiion given in the Thstees, report is inconsistent ID any material respect with the financial stat¢ments;
or
the charity has not kept suffJcieDt a¢¢ounting records,. or
the finanLial stateEnents are not In 3greernent with the accounting records aTrd retum5' or
we have not received all the infomiation and explanktion5 we require for our audit.
Responslbilities of trllstees for the financi81 statements
As explained more fully in the Trusiees. Rebponsibilities Staternent set out on pages 7 and 8. the trustees are
responsible for the preparation of the financial sta￿mentS which give a trne and fair view, and for such iniemal
control as the ttustees d¢tCTttJin¢ is TJecessary to enable the Prepaiation of financial statements that are free from
material misstaicmcnt, whcther due to fraud or eJTOr.
In preparing the financial stat¢ments, the trustees are responsible for assessing th¢ charity's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
a¢¢ounting unles5 Ihe trustees either intend to liquidate the charity 01 to eease operations, OT have no realisÈiL
alternative but to do so.
Auditor'5 respollslbilitles for the audlt of the financial Statements
Our objectiYe5 are to obtain reasonable assuranc¢ abouf whether the financial stBtement5 as a whole ore free from
material misstaterncnt, whether duc to fTavd OT error. and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assuran¢e but is not a guaralltee that aTJ audit conducted in accordance with
ISAS (UK} will always detect a Mater￿8[ mi5Stalement when it exists.
Misstatements can arise fvosn 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 iaken on the basis of these financial
statements.
A further description of our responsibilities for the audir of the financial statements is located on the FinanLial
Re￿rtIllg Council's website at.. www
kl uditorsres
OT)sibilities. Thi5 description forn￿ part of our auditor's
report.
Explanatlon as to what extetkt the audit was considered capable of deteeting irregularities, Including fraud
Irregularities, includtng fraud are instances of non-complian¢e with laws and regulations. We design procedures in
linc with oiir responsibilities, outlined above. to detect material misstatemcnts in respect of 5rregularities. includitlg
fraud. Owing to the inherent limitations of an audit, tliere 15 an unavoidable risk that material missiatements in the
financi215talernenls may not be detected, even though the audit 53 prop¢rly planned and performed in accordance
Wlth the ISAS IUK).
io

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceltsnd Foods Charitable Foiindaiion
TTu5tees Annual Repon attd Financial Statements
Year end¢d 5 April 2021
The extent to which our procedures are capable of defr¢tÈng irrcgularities, kncluding fraud is det2iled beloiv..
We obtaiRcd ai? understanding ol'the legal and regulatory frdmeworks applicable to the charity, and the
industry in which il operates and deiemiined whiLh may influence the f]nancial Slatetnents. Given the
nature of its opcratsng activitiCS, the LhaTlty is subjcct to scvcrnl laws and rcgulations wherc the
onsequcnces of non-eo¥npliance could have a material effttt on amounts or disclosures in the financial
statement5.
We detern7ined that the following laws and regulations are the most significant iyhich are directly relevant
to speLifi¢ assertions in the financial statcments..
Those that relate lo reporting frameworks being FRS102 and the Statement of Recommended
Pracrice {"Charities SORP (FRS102)') and the Chariiies Act 2011 and the relevant tax compliance
regulations.
We assessed the susceptibility of the eharity's fjnancial statements to material mis5taternent: including how
fraud might o¢cur. Audit procedures performed by the engagement team included=
evaluation of the processes and conirols established to address the risks related to irregularities
and fraud:
testing manual journal entries, in particular journal entrtes relating to management estimates and
entries detemined to be large or relating io unusual tsansactions..
identifykng and testÉng related party transactions.
The asscssment of the appropiiateness of Ihe collective competence and capatiilities of the engagement
team irtcluded considerarion of the engagement team's knowledge of the industry in which the client
operates I￿ and underst8ndEng of, and practical expersence through training and participation with audit
engagements of a similar nalure,.
In a55essing the potenÉiAI risks of material misstatement. we obtained an understanding of..
the ¢h&rity's operations, including the nature of its revenuc sourees, expeLtcd financial statement
disclosures and busiTJC55 risks that may result risk of material misstatement and
the charity's control environment ineluding the adequacy of procedures for authorisation of
tran5a¢tions.
Use of 0￿r report
This rcport LS made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008 and Section 5 54 of the Charities Act 2011. Our audit work has been undertaken so
that we might State to ihe charity's tTUStees those matters we are required to slate to them in an 8uditor's report and
for no other purpose. To the ￿lIest extent perniitted by law, we do not accept or assume responsibility to anyone
othcr than the charity aTHI its ttusEes as a body. foi our audit work. for this report. or for the opinions we have
formed.
Grant Thornton UK LLP
Statutory Auditor, ￿artered Aecountants
Liverpool
2021
30/6/2021
Grant Thornton UK LLP is eligible to act as an auditor in ternis of section 1212 of the Companies Act 2006

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
Thc Jcc12rtd Foods Charitsble Fouttdaiion
Trnstees Annual Repon and Financial Sthiements
Yeat ended 5 April 2021
Statement of Financial Activities
for iheyefir elided 5ih April 21121
Noie
2021
Restricted
Funds
2020
Unre5tricled
Funds
Tot31 Unreslricled
Funds
Futtds
RestrtCEed
Funds
Total
Futtds
IntomÈ #nd Endowment5 from:
Donation5
Invc5tmenls
93,940
336
271217
361157
336
1.151.037
26,882
788.907
1.939.944
26.882
Totsl Income
271
365 493 ￿19
88 907 1966 826
Expenditure on:
ChaTitable activitie5
Raising Funds
1761,5061
1127,9301
1889.4361
173,1151
1796.5221
1769.403} 11,565.925}
Tot#1 expenditure
834621
127930
962
796 52?
Net lexpendilurellfneome and
net movement
in fuDds
740 345
597 058
381397
Traosfrrs between fitnds
Tot21 funds at beglnnlng ofyelr
4,535.803
19,504
4.555J07
4.154,406
4,154.406
Total funds at end olyear
There are no recognised gains or losses other thaT) the net movement for ihe year.
The incoming resources and resulting n¢t movement in funds arise from continutng activities.
The AecoD7P8nying accounting polities #nd note$ form part of these rtn#nci81 $tat¢ments.
12

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
Th¢ l¢elartd Foods Charitable Foundation
TTU5tecs Annual Report and Fiiiancial Siatenieiils
Year ended 5 April 2021
Balance Sheet
ai 5th April 2021
Noie
2021
2021
2020
2020
Current &sset5
Caslk al bank aiid in hand
4,240,919
5.061,692
Total Cllrrtnt Assets
4,240.919
5.061,692
Cr¢ditors
Amounts folling du¢ within oneyear
{232,6701
1456.385)
Net eurrent assets
4,008,249
4.605.307
Total a55¢ts It5$ current IlabllltAe5
4.0(I8.249
4.605.307
Creditors: amounts fslling dug after more than one
year
{50.0001
150,0001
Net assets
3,958249
4.555,307
The funds of the charity:
Unre81rieled fund5
Resiricied fund5
3,795,458
162,791
4,535.803
19,504
3,958249
4.555,307
These financial statements were approved by the trustees on s3MJufiL2021 attd were signed on their behalf by:
Tarsein Dhaliwal
The aceompanylng aecountlng polieles and notes form part of these financ5al statements.
13

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The leeland Foeds Charitable Foundation
Trustees Annual Report ond Fillancial Stotcmcllls
Year ended 5 April 2021
Statement of Cash Flows
for ili*yéur ended Sih April 2021
2021
2020
C2sh llows from operallllg atllvltles
in¢om¢ for the reponing period
{597.D581
400.901
D¢cruse in creditors
(223.7151
1244,615}
Inter¢51 received
1336)
126.88?)
IYe¢ cash (used bYVpr0￿Ided by op¢r*tlttg #etsyities
(821,109)
129,404
Cash flDWS from iDves1ing *cilvitie5
Interest rcceivcd
336
26.882
Net cash provided by investtng attivities
336
26,882
ChAnge ltt CAsh tg$h ¢qvlv#lent5 in reportiTrg period
(820.773)
156.286
Cash c*5h equiY#lell15 St the beginning of year
5,061,692
4,905.406
C#$h cash ¢quiYalenl$ al end of year
4,240,919
S,(KSl,692
The aceompanylng aecounting pollcle5 and notes form part of these financi#l 5t8teTnents.
14

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The l¢elattd Foods Charitable Foundation
Tn15t¢es Annual Report aiid Financial Statement5
Year ended 5 April 2021
Notes to the financial statements
IftsrNiingpttrt ofiltÉfiiiallcial siuiehienls)
l Accounting Policies
1.1 B&5is of prep#ratlon of financial st%teTnents
These financial statementy have been prepared under the historical c05t cortvention with itcms rccognised at cost or
transaciion value ilnless otherwise slated in tlie relevant notelsl to these accounts. The financial statements have
been prepaied in ac¢ordanLe with..
Statemcnl of RecomiTJended Prn¢tice.' AccoutJlii]g and Reporting by Charities (FRS 102 SORP)-
Finallcial Reporting Standard applicable in the UK And Republic of Ireland (FRS 102):
ChErities Act 2011.
The charitabl¢ foundation constitutes a public benefit ¢ntkty 25 defined by FRS 102.
1.2 Going coDcerD
The current finan¢ial sÈatements show th¢ charity maintains a strong balance sheer posiiion and cash position.
The impact on the charity arising from the un¢ertainty of the recent COVID-19 outbreak has be¢n considered by ihe
tn]stees'.
The tnJ8tees have reviewed their current reseTves policy, the current C85h position and the donation5 Committed
and granted by the charity. Based upon the iiiforrnation available. the trustecs consider that ihe charity has
suffieieni liquidity to continue activities for ot least the Rext 12 months as a going concern.
A5 the charity raises funds to donate io various Causes, the main risk associated ivith COVID-19 is in relation
to the ability to raise funds through the Iceland Foods stores or through donations Tnade at events put on. As a
result of the reserves policy that is in place and rhe money raised in previous years, the charity is not dependent
on income raised from future donations to be able to Tneet the donaiions ir is currently co]nmittEd io PY¢ying.
The tn15te¢s therefore have a reasonable cxpeciation that the charsty has adequate resources to conlinue its activities
for the for¢s¢¢abl¢ fuNre and. accordingly, the going concern basis is adopted in the preparation of the finan¢ial
statements.
1.3 Income Reewiltlon
Incoming resou￿¢5 are Tncluded in the Statement of Financial A¢tivitie$ {SoFA) when..
the ch8riiy b¢cotne5 entltled to the re50urces'
the receipt of resourLes is probable; and
the monctary value Can be measuTed wilh sufficient reliab%lity.
Incoming resources ivlth related expenditure
Where inconiing rcsouices have related expcnditure (as with fundraising or contract incorne) the incoTning resources
and related expcnditure are report¢d gross in the SOFA.
Grants 4nd donations
Grants and donations aTe only included in the SOFA when Ihe charity has unconditional entitlement to the resources,
and where receipt is probable and the amount can be m¢asured reliably.
15

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Charitable Foundatio
TNslecs Anrtual Reptsrt ond Financial Stat¢menls
Year ended 5 April 2021
Notes (continued)
l Accounting Policies (Continued)
Tax reclaims donations arsd gifts
Incoming resources from tax reclaims are included in the SOFA at the same lime as the gift to which they rtlate.
Investment income
This is included in the accounts when rtteivable.
Restricted funds
The restricted funds represent the original ¢apilal sums iogether witli tlie balance of income received for the
relevant specifEe purposes: which had not been spent by the end of the financi41 yeaT.
Unrestricted funds and designated fund5
The unrestricted fvnd repres¢nts the funds to provide for the working capital of the Foundation and contingent
expcnditure.
Designated funds ore those ihat have beet] Set aside by the Trnstees out of unrestricted funds for identifiable fLEture
expenditure, but designation has an administFative pu]pose only 8nd does not legally restTl¢t the Trustees. disLrelion
to apply the refunds.
1.4 Expenditure recognition
LSability reeognition
Liabilities are rccogDised as soon as ¢here is a legal or constnictive obligation comrnilling the chaTlty to pay out
resotLTces exists, it 15 probabl¢ that the settlement will be requ2red and thc amount of the obligation Lan be tnea5ured
reliably. All expenditure is accounted for on an accrua15 basis. All expenses involving support costs at]d govenJance
eosts are allocated or apportion¢d to the applicable expenditure headillgs.
Grants with performance conditions
Where th¢ charity giv¢5 a grant with conditions for its payment being a specifjc level of service or output to be
provided, such grants are only recognised in the StsFA once Éhe recipient of the grant has provided the specified
service or output.
Grants payable without performanee tondititsns
These are only reeognÉsed in the accounts when a commitment has been made and there are no conditions to be met
relating to the grant which remain in the control of the charity. The charity Considers that COTllmitmenls only arise
when suffi¢ieMi fvnds have been Taised to ￿]rI[ pledges made.
1.5 Cmsb At bank and in hand
Cash at bank and in hand iiicludes ¢ash and short temi highly liquid inve$tments with a short maturity of three
months or less from the date of acquisition, or opening of the deposit. or similar account.
1.6 Credffitors
Short tetrn LTeditors are measured at transaction price. Other financial liabilities are measured initially al fair value.
net of transaction costs, and are mea8UTed subsequently at amortised cost using thc effective interest meihod.
16

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The l¢¢land Foods Cliaritable Foundation
Trustee5 Annual Repon aiid Financial Sr2temcnts
Year ciided 5 April 2021
Notes (continued)
l Accounting Policies (continued)
1.7 Flnancial instruments
The charity only enters into basic fjnancial instTument Ironsactioiis that result in tlie recognition of financial assets
and liabiliiies, likc atcouiits receivable and payable.
Financial assets that are measured at cost and aEnorlised Cost are assessed at the end of each reporting period for
objectivc cvidence of impairment. If objective evidence of %rnpaimienl is follnd, an impaimient10ss is recognised
in the SOF
For fsnancial assets measured al amoflised cost, the impairment loss is m£asured as the diffcrenc¢ bctwccn an
asset's carrying amount and the Present value of estimated cash flows discounted at the asset's original effective
inierest rate. If a fii)ancial asset has a variable interest rale, the discount rate for measuring any impainneni Ioss IS
the current eff¢ctÉve interest Tate d¢temiined under the contract.
For financial assets measured at cost less impaim)ent, the impairMent loss is measured as the difference between
an asset's carying amount and best estimate, which is an approximation of the amount Éhzt the charity would
reeeive for the as5¢t if it were to be sold at the balance sheet dat¢.
Financial assets and li2bilities are offsei and the net amount reported in the balance sheet whcn there is an
enforceable right to Sct off the recognised atnouiits and there is an intention to settle on a nct basis or io realise the
asset and settle the li4bilsty S5multaneously.
1.8 Contlngent li8bililies
A contilltsent liability 15 identified and disclosed for those grants resulting from:
a possible obligation wh￿ch will only be confinn¢d by the OC¢UFren¢e of one or more uncestsin future everjts
not wholly within the trusttts control or.
a present obligation following a grant offer where settlement is not considered probable.
1.9 Significant Judgemcnts key areas of estimation unf ertainty
Trustees consider there to be no iÈms It) the financtal statements where they have had to make signiflcant
judgements in the process of applying the Lharily's accounting policies or key SOUTces of estimation uncertainty.
2 Incoming resources
2021
Restrictcd
nds
2020
UnTeStri¢ied
funds
Total
Total
Voluntary iN£ome
Donations
Charity golf auction
93.940
271,217
365.157
1.380,440
559.504
93,940
271.217
365.157
1.939,944
Income from tDvestment$
Bank deposit iniere51
336
336
26.882
94.276
271.217
365.493
1,966,826

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iceland Foods Charitable Foundation
Tnjstces Annual Report and Financial Siatcmenis
Year e*)ded 5 April 2021
Notes (continued)
3 Expendlture on Charitable #ctivities
This Charity undertakes its ehariiable activities thT(kugh donatlOll5 awarded ￿ a number of ittdividuals artd instithtions in
furtherance of its chartfable actsvittes.
2021
Re5tricled
fund5
2020
UThrestricted
funds
Total
Total
Charitable activities: Instltutions
Donation- Action for Children
280,1100
280.1)00
Donaiion- St John's Ambulan
150,(H)O
150,000
Donatiott- ARUK
87256
87256
605.500
DonaiioEI- Tlie UK Sepsis Tnisi
65.SOO
65500
250.(X>O
Donotion- NHS Charitic$ Together
37,606
37,606
Donation- Wildlife Walcs
94.000
94,1100
Donation- DKMS
10,000
Donation- Exeter Demeiilia
S,500
5,500
Donation- Carlisle Youth
4,000
4,000
Donaiion- Bu¥xfoot Conimunity
2,000
2,000
Donatiort- Farnili¢5 3ff¢cted by Suicide
Donation- AGE UK
1.068
1.068
150,1)00
Donation- EDEN refor¢sfation
956
956
130.409
Donaiion- British Lung Foundation
IoD.000
DoJJaiton-The Royal Foundation
150.000
DoD)tion- PTtsject Dirt ISEMBLEI
Donation- Clwyd Spectal Riding Cenrre
90,000
25,000
Donation- Mojtion Hall Edu¢aiion TTUST
14.363
Donation- Surf¢rs Against Sewage
150,000
150,OIJO
10,000
Donation- The Message Trnsi
10.000
Expcnse- Kaleidoscope Advertising, Design &
Marketing
7.200
Donation_ l& Standsione SeoutGroup
Dtbnati¢)n-The Lingd¢n Davie5 Canc¢r Fund
Donation- Thc Public Memorials Appeal
Donaiion-Nieola' FuDd
5.(XlO
5.(XlO
1,750
DoB#ti¢)n- BaTnstone
1.740
Donarion- Alzheimer's Society
Donatien- CF Wattiors
I,(x)O
18

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Ic¢laDd Foods Cliaritablt Foundation
TnJsiee5 AnDii81 Rcport attd Financial Sfai¢rn¢nlS
Year elided 5 April 2021
Notes (continued)
3 Expenditure on Charitable Actlyliles (continued)
2021
Restricted
2020
UBrÉ5tritttd
funds
Total
Total
DonotioD- Home Start Lecds UK
I,IK)o
l.(M)ts
Donation- The Teena8e Canc¢r Trust
Donation5 to 5mtsller Charities
1,5SD
1550
490
rotolDofi&￿0nS
761,506
127,93
889,436
741
1.565.925
Bank ChaTEe$
ExpendittiTe- Siipport Cosls, admittistraiion and
equipment
Expenditure- Equipment for Charitable A¢tivjlies
741
473
47,265
47.265
25,109
25,109
To¢olExpeNdil¥re
73,lJS
73.115
Totsl ChArilable Activities
834.621
127,930
962551
1,565,925
4 Staff number and costs
The trustees Tec¢iv¢d no etTroltsments fortheir scrvi¢cs, tiQT were they reimbursed foT any expenses in the y¢aroT the previou5 year.
The charity dlxs not ernploy )ny thff. The charity doe5 not T¢munerate any key mantsgement personnel.
5 Taxatlon
No provision is requir￿ for taxation as thc trust is a registered charity.
6 Creditors: Amounts falllng due Ivithin one year
2021
2020
Donations payable
232,670
456,385
7 Creditors: Amounts fallRDg due after more than one year
2021
2020
Donations payable
50,000
50,0(MI
8 Auditors remuneration
Audit fees are bom¢ by Ic¢land Feods Limited, a TeL￿1¢d party.
19

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Icelaiid Foods Charitsble FouTrdation
Twsiees Annual R¢porr and Financial Staitmen15
Year ¢nded 5 April 2021
9 Funds
Restritted funds
Th¢ r¢stri¢ted fiind represents donations received in relation lo rnoncy raised from ihe related parties for the objectives or
expcnditurc in line wirh the ones communicated by Iceland Foods Liniited.
Unre51rieted funds
The ￿t￿eSIr1¢1¢rt funds ¢OEnprise a gen¢ral fimd.
Analysis of fU￿d moveJnenls
For the yeAr ethdtd S April 2021
Balanee
blfwd
Incom¢
resourtes
R¢5ources
expended
Transfers
F¥Dd ￿(wd
Rtstrltted fTtJ]d$:
Alzheimcr'5 Rcsearch UK
Lady Walker Fund- Dementia
Charities
19,504
89.976
{87,256}
22.224
70,922
70.922
NHS Charities Together
37.606
137,6061
Bumfoot com￿￿nity
2.fflo
12,0001
Families affected by Suicid¢
Vari¢)vs Charities
1,068
{1,0681
69,645
69.64S
Unrestricted funds:
General Fund
4,535.803
94.276
1834.6211
3,795.458
Total
4.555.307
365,493
1962.551)
3,958.249
For thc vesr ended S April 2020
Balance
Wfwd
Ineome
resoure
ResoLErce$
txpendtd
Tr#n5fer5
Fvnd tlfwd
Restricted funds:
Alzheimer's Rese8r¢h UK
538.907
1519,403}
19,504
Th¢ UK S¢psis Tr￿51
Unrutricted fund5:
250.000
1250,000)
Get￿11 Fund
4.154.406
.177.919
1796,522}
4,535,803
TOLII
4,154.406
1.966.826
11.565.925}
4.555,307
20

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55
The Iccland Foods Chariiable Fourtdaiion
Tnjsiees Allnu31 Reptrrt and Financi21 Staicmcnls
Ytar ettded 5 ApHI 2021
Notes (continued)
10 Financial instrumeRts
2021
2020
FAnartcial asse*s
FinaJ¢itsl asseis measur¢d tst amortiscd cost
4,240,919
5,061,692
Financial liabilities
Fitmncial liabilities ft?easured ai amortl5ed cosi
282,670
506.385
Financial asscts mcasured at amortised cost comptise Cash at bank.
Financial liabilities nJcasuTed at aTriortiscd eost comprise grattis payabl¢ cr¢dilo
I l Related pxrtles
l¢el8Thd Foods Limiled
During thc year, donations of £1 19,495 12020.. £1,675,205} w¢r¢ ￿te1Ved froa) Iceland Foods Limited. a related party by virnie
tsf Malcolm Ivalker, Richard Walker and Tarsem Dlialiwal being trusteesl officus of both ¢ntiiies.
During the year Ihe charity has agreed to provide a donation of £150,000 to Surfcrs Against Sewag¢ which is incliidcd withirt
donations payable. Richard Walker. a TNstcc of she ¢harity. was appoint¢d as Ihe Chair of Tru5t¢e$ at Surfers Agatn5t Sewage on
17 March ?021.
During the yeai, donations from trustees totsllcd £NIL12020: £40,300).
12 Analysls in changes in net fuDds
At6
April 2020
At5
April 2021
Cash flows
Non rash
chAngts
Cush at bank ind in hand
5,061,692
1820,7731
4.240.919
13 Contingent gr8nt commitments
Th¢ t￿Slee$ intend ￿ make gTallts of £NIL12020.. £Nill within the ncxt thr¢e years lo a number of orgarttS8tions. contingEnt
sufficient lutllre income being raised.
21

Docusign En¥ÈlopÈ ID." 70FF7C3341144C27-9B92-70B92D2F1D55