2023-12-31-accounts

Trustee	TheGreggsFoundationTrustee
DirectorsoftheTrustee	JDysonOBE(Chair)
	KBradley
	RHutton
	JIrving
	FNicholson
	SSingh
	MThompson
	GLong
	ATaylor
SecretaryoftheTrustee	JMassingham
Charitynumber	296590
Principaladdress	GreggsHouse
	Q9QuorumBusinessPark
	BentonLane
	NewcastleuponTyne
	NE128BU
Website	www.greggsfoundation.org.uk
Auditor	RSMUKAuditLLP
	CharteredAccountants
	1St.James'Gate
	NewcastleuponTyne
	UnitedKingdom
	NE14AD
Bankers	NationalWestminsterBankPlc
	16NorthumberlandStreet
	NewcastleuponTyne
	NE1TEL
Investmentmanagers	RBCBrewinDolphin
	TimeCentral
	Gallowgate
	NewcastleuponTyne
	NE14SR

		Unrestricted	Restricted	Total	Total
		funds	funds	2023	2022
	Notes	£	£	£	£
Incomefrom:
Donationsandlegacies	2	3,538,518	1,068,623	4,607,141	3,541,540
Charitableactivities	3	306,865	224,684	531,549	424,712
Investments	4	566,416	-	566,416	556,186
Totalincome		4,411,799	1,293,307	5,705,106	4,522,438
Expenditureon:
Raisingfunds	5	12,401	-	12,401	22,089
Charitableactivities	6	4,024,381	1,172,410	5,196,791	4,100,641
Totalexpenditure		4,036,782	1,172,410	5,209,192	4,122,730
Netincome		375,017	120,897	495,914	399,708
Netgains/(losses)oninvestments	11	1,792,138	-	1,792,138	(4,872,471)
Netincome/(expenditure)beforetransfers		2,167,155	120,897	2,288,052	(4,472,763)
Grosstransfersbetweenfunds	20	82,527	(82,527)
Netmovementinfunds		2,249,682	38,370	2,288,052	(4,472,763)
Totalfundsbroughtforward		22,753,532	1,797,559	24,551,091	29,023,854
Totalfundscarriedforward		25,003,214	1,835,929	26,839,143	24,551,091

		2023	2022
	Notes	£
Fixedassets
Intangibleassets	13	131,895	19,920
Investments	14	23,161,255	21,712,702
		23,293,150	21,732,622
Currentassets
Debtors	15	198,673	169,028
Investments	16	1,200,219
Cashatbankandinhand		2,987,536	3,334,234
		4,386,428	3,503,262
Creditors:amountsfallingduewithin
oneyear	17	(639,215)	(515,017)
Netcurrentassets		3,747,213	2,988,245
Totalassetslesscurrentliabilities		27,040,363	24,720,867
Creditors:amountsfallingdueafter
morethanoneyear	18	(201,220)	(169,776)
Netassets		26,839,143	24,551,091
Incomefunds
Restrictedfunds	20	1,835,929	1,797,559
Unrestrictedfunds	20	25,003,214	22,753,532
		26,839,143	24,551,091

		2023		2022
	Notes
Cashflowsfromoperatingactivities
Netcashprovidedby/(usedin)operating	22
activities			63,843		(25,962)
Investingactivities
Purchaseofintangibleassets		(120,323)		(19,920)
Proceedsondisposaloffixedassets
investments		1,366,650
Dividendsandinterestreceived		566,416		522,977
Purchaseofcurrentassetinvestments		(1,200,219)
Purchaseoffixedassetinvestments		(1,782,386)
Movementincashheldinportfolio		759,321
Netcash(usedin)/providedbyinvesting
activities			(410,541)		503,057
Net(decrease)/increaseincashandcash
equivalents			(346,698)		477,095
Cashandcashequivalentsatbeginningofyear			3,334,234		2,857,139
Cashandcashequivalentsatendofyear			2,987,536		3,334,234

Donationsandlegacies
	Unrestricted	Restricted	Total	Total
	funds	funds	2023	2022
	£	£	£	£
Donationsandgifts	3,070,629	1,068,623	4,139,252	3,039,987
Othergrants				100,000
Donatedgoodsandsen/ices	467,889		467,889	401,553
	3,538,518	1,068,623	4,607,141	3,541,540
Fortheyearended31December2022	2,952,432	589,108		3,541,540
Donationsandgifts
Greggsplc-companydonations	2,336,420		2,336,420	2,045,477
Greggsplc-donationsfromproductsales	352,396	-	352,396	334,820
Greggsplc-giveasyouearn	23,661	-	23,661	22,796
Individuals(includinggiftaid)	358,152	2,953	361,105	117,786
OtherTrusts	-	108,306	108,306	77,500
BreakfastClubpartners		957,364	957,364	441,608
	3,070,629	1,068,623	4,139,252	3,039,987

3	Charitableactivities
		Unrestricted	Restricted	Total	Total
		funds	funds	2023	2022
		£	£	£	£
	Community
	Appealandfundraisingevents	282,951	6,789	289,740	206,484
	GeneralFundraising
	Fundraisingplatforms	2,952		2,952	12,201
	BreakfastClubs
	Appealandfundraisingevents	20,962	217,895	238,857	206,027
		306,865	224,684	531,549	424,712
	Fortheyearended31December2022	235,820	188,892		424,712
4	Investments
				2023	2022
				£	£
	Incomefromlistedinvestments			508,616	547,136
	Interestreceivable			57,800	9,050
				566,416	556,186
	Incomefrominvestmentsrelatesentirelytounrestrictedfunds.
5	Raisingfunds

	2023	2022
	£
Fundraisingandpublicity
Otherfundraisingcosts	12,401	22,089
	12,401	22,089
Expenditureonfundraisingandpublicityrelatesentirelytounrestrictedfunds.

Charitableactivities
	Unrestricted	Restricted	Total	Total
	funds	funds	2023	2022
	£	£	£	£
NorthEastCoreFund
Grant-making	698,660		698,660	650,000
Shareofsupportcosts(seenote7)	89,599		89,599	98,443
Shareofgovernancecosts(seenote7)	3,696		3,696	3,576
	791,955		791,955	752,019
Hardship
Grant-making	1,470,223	129,119	1,599,342	1,438,746
Shareofsupportcosts(seenote7)	205,260	-	205,260	217,898
Shareofgovernancecosts(seenote7)	8,467		8,467	7,916
	1,683,950	129,119	1,813,069	1,664,560
Community
Grant-making	60,395	14,916	75,311	30,954
Shareofsupportcosts(seenote7)	9,658	-	9,658	4,688
Shareofgovernancecosts(seenote7)	398		398	171
	70,451	14,916	85,367	35,813
BreakfastClubs
Grant-making	533,619	784,375	1,317,994	812,248
Shareofsupportcosts(seenote7)	168,870	-	168,870	123,016
Shareofgovernancecosts(seenote7)	6,964		6,964	4,468
	709,453	784,375	1,493,828	939,732
Health&Sustainability
Grant-making	-	244,000	244,000	194,480
Shareofsupportcosts(seenote7)	31,291	-	31,291	29,454
Shareofgovernancecosts(seenote7)	1,291		1,291	1,070
	32,582	244,000	276,582	225,004
Communityhubs
Grant-making	649,289		649,289	417,920
Shareofsupportcosts(seenote7)	83,267		83,267	63,294
Shareofgovernancecosts(seenote7)	3,434		3,434	2,299
	735,990		735,990	483,513
	4,024,381	1,172,410	5,196,791	4,100,641
Fortheyearended31December2022	3,449,653	650,988		4,100,641

Supportcosts
	Support	Governance	2023	2022	Basisofallocation
	costs	costs
	£	£
Inkindstaffcosts	433,964		433,964	371,778	Valueofgrantsmade
Amortisation	8,348		8,348		Valueofgrantsmade
Otherofficecosts	35,296		35,296	26,214	Valueofgrantsmade
In-kindrentandrates	33,925		33,925	29,775	Valueofgrantsmade
Professionalfees	58,713		58,713	65,079	Valueofgrantsmade
Printingandpublications	16,952		16,952	6,868	Valueofgrantsmade
Conferences	747		747	18,682	Valueofgrantsmade
Matchedfunding				18,397	Valueofgrantsmade
Auditandaccountancyfees		24,250	24,250	19,500	Governance
	587,945	24,250	612,195	556,293

FeespayabletotheFoundation'sauditorandassociates:	2023	2022
	£	£
Auditoftheannualaccounts	21,500	16,750
Non-auditservices
Othernon-auditservices	2,750	2,750

	Unrestricted	Restricted	Total	Total
	funds	funds	2023	2022
	£	£	£
Changeinmarketvalueofinvestments	1,789,929	-	1,789,929	(4,852,435)
Gain/(Loss)onsaleofinvestments	2,209		2,209	(20,036)
	1,792,138	-	1,792,138	(4,872,471)
Fortheyearended31December2022	(4,872,471)			(4,872,471)

Intangiblefixedassets
	Softwaredevelopment
	£
Cost
At1January2023	19,920
Additions	120,323
At31December2023	140,243
Amortisationandimpairment
At'IJanuary2023
Amortisationchargedfortheyear	8,348
At31December2023	8,348
Carryingamount
At31December2023	131,895
At31December2022	19,920

			Listed
			investments
			-Equities
			£
	Costorvaluation
	At1January2023		20,885,432
	Additions		1,782,386
	Valuationchanges		1,789,929
	Disposals		(1,364,441)
	At31December2023		23,093,306
	Carryingamount
	At31December2023		23,093,306
	At31December2022		20,885,432
		2023	2022
			E
	Investmentsatfairvaluecomprise:
	Equities	23,093,306	20,885,432
	Cashheldwithininvestmentportfolio	67,949	827,270
		23,161,255	21,712,702
15	Debtors
		2023	2022
	Amountsfallingduewithinoneyear:	£	£
	Otherdebtors	113,015	90,043
	Prepaymentsandaccruedincome	85,658	78,985
		198,673	169,028
16	Currentassetinvestments
		2023	2022
		£	£
	Unlistedinvestments	1,200,219

17	Creditors:amountsfallingduewithinoneyear
			2023	2022
		Notes	£
	Grantspayable		532,286	389,234
	Deferredincome	19	71,430	90,043
	Othercreditors		245
	Accruals		35,254	35,740
			639,215	515,017
18	Creditors:amountsfallingdueaftermorethanoneyear
			2023	2022
			E
	Grantspayable		201,220	169,776

	2023	2022
	£
Broughtforward	90,043
Incomedeferredintheyear	71,430	90,043
Amountsreleasedfromprioryear	(90,043)
Carriedforward	71,430	90,043

			Movement	infunds
	Balanceat1	Income	Expenditure	TransfersRevaluations,		Balanceat31
	January				gainsand	December
	2023				losses	2023
	£	£	£	£	£	£
Unrestrictedfunds
Accumulatedfund	21,950,415	2,130,217	(1,323,256)	(1,161,186)	1,792,138	23,388,328
Designatedfunds
Hardship	-	50,782	(112,051)	61,269		-
Breakfastclub	666,587	668,739	(533,619)	118,458		920,165
Environmental	-	167,627		(73,489)	-	94,138
Designatedspecial
projects		20,048				20,048
Localprojects		266,104	(60,395)	(205,709)
NationalHardship		5,306	(1,412,585)	1,412,244		4,965
Communityhubs	121,883	1,102,976	(649,289)	-		575,570
Matchfund	14,647	-	54,413	(69,060)		-
	22,753,532	4,411,799	(4,036,782)	82,527	1,792,138	25,003,214
Restrictedfunds
Hardship	97,500	191,748	(120,729)	(77,476)	-	91,043
Breakfastclub	1,527,868	1,101,559	(784,375)	(100,166)		1,744,886
Environmental	106,805	-		(106,805)		-
NominatedCharities	6,440	-	(14,916)	8,476		-
Agentsofchange	58,666	-	(244,000)	185,334
NorthTyneside
Councilgrant	280		(8,390)	8,110
	1,797,559	1,293,307	(1,172,410)	(82,527)		1,835,929
Totalfunds	24,551,091	5,705,106	(5,209,192)		1,792,138	26,839,143

			Movementinfunds	Movementinfunds
	Balanceat1	Income	Expenditure	TransfersRevaluations,		Balanceat31
	January				gainsand	December
	2022				losses	2022
	£	£	£
Unrestrictedfunds
Accumulatedfund	26,429,067	2,199,005	(1,228,382)	(576,804)	(4,872,471)	21,950,415
Designatedfunds
Hardship	111,713	15,623	(938,868)	811,532
Breakfastclub	583,891	446,071	(363,375)			666,587
Environmental	50,000	190,000		(240,000)
Communityholiday			(330,050)	330,050
Localprojects		196,486	(27,954)	(168,532)
Covidresponse&
recovery			(3,000)	3,000
Communityhubs	249,030	697,253	(417,920)	(406,480)		121,883
Matchfund	105,252		(162,193)	71,588		14,647
	27,528,953	3,744,438	(3,471,742)	(175,646)	(4,872,471)	22,753,532
Restrictedfunds
Hardship		177,500	(2,500)	(77,500)		97,500
Breakfastclub	1,380,198	596,543	(448,873)			1,527,868
Environmental	106,805					106,805
NominatedCharities	2,483	3,957				6,440
Agentsofchange			(194,480)	253,146		58.666
Barclays
NorthTyneside
Councilgrant	5,415		(5,135)			280
	1,494,901	778,000	(650,988)	175,646		1,797,559
Totalfunds	29,023,854	4,522,438	(4,122,730)	-	(4,872,471)	24,551,091

	Unrestricted	Restricted	Total
	funds	funds
	£	£	£
Fundbalancesat31December2023arerepresentedby:
Intangiblefixedassets	131,895		131,895
Investments	23,161,255		23,161,255
Currentassets/(liabilities)	1,911,284	1,835,929	3,747,213
Longtermliabilities	(201,220)		(201,220)
	25,003,214	1,835,929	26,839,143
Fortheyearended31December2022:
	Unrestricted	Restricted	Total
	funds	funds
	£	£	£
Fundbalancesat31December2022arerepresentedby:
Intangiblefixedassets	19,920		19,920
Investments	21,712,702		21,712,702
Currentassets/(liabilities)	1,190,686	1,797,559	2,988,245
Longtermliabilities	(169,776)		(169,776)
	22,753,532	1,797,559	24,551,091
Netcashprovidedby/(usedin)operatingactivities		2023	2022
		£	£
Netincome/(expenditure)forthereportingperiod(asperthe	statementof
financialactivities)		2,288,052	(4,472,763)
Adjustmentsfor:
Investmentincomerecognisedinstatementoffinancialactivities		(566,416)	(556,186)
(Gain)/lossondisposalofinvestments		(2,209)	20,036
Net(gain)/lossonvalueofinvestments		(1,789,929)	4,852,435
Amortisationofintangibleassets		8,348
Movementsinworkingcapital:
Increaseindebtors		(29,645)	(76,619)
Increaseincreditors		155,642	207,135
Netcashprovidedby/(usedin)operatingactivities		63,843	(25,962)

	1January	Cashflows31December	Cashflows31December
	2023		2023
	£	£
Cashatbankandinhand	3,334,234	(346,698)	2,987,536
	3,334,234	(346,698)	2,987,536

	Donations
	2023	2022
	£
Greggsplc	2,712,477	2,403,093
DirectoroftheTrustee	54,813	50,000
FamilymembersofadirectoroftheTrustee	99,184
	2,866,474	2,453,093