CONFIDENTIAL
COMPANY REGISTRATION NUMBER.. 08064488
CHARITY REGISTRATION NUMBER: 1147400
The Costa Foundation
Company Limited by Guarantee
Financial Statements
31 December 2025

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2025
Page
Trustees, annual report lincorporaling the direclovs reporti
Independent auditor's report lo the members
13
ststement of financial activities (including income and expenditure accounti
16
Statement of financial position
17
statement of cash flows
18
Notes lo the financial statements
19

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng the Directorfs Report)
Year ended 31 December 2025
The trustees, who are also the directors for the PLJrposes of company law. present their report and the
financial stalemènts of the charity for the year ended 31 December 2025.
Chalr's report
2025 has been another year of solid progress. strengthening our team, driving income and delivering
on our core misston of improving the life chances of children and young people in coffee-growing
communities by providing access to a safe. qL¢ality education. For the first lime we have also
approved funding for projects to change children's lives in the UK.
During the year we have continued to strengthen our Costa Foundation team. We have increased the
hours of our Executive Director. made the position of our Project Officer permanent and recruited
Fundraising and Engagement Officer lo help drive income.
There have also been changes within the board. After six years, we say a massive thank you and
goodbye to trustee and Chair of the Projects Committee, Professor Laura Camfield. Laura has made
a huge ¢onlribLJlion to the charity during her temi in office, and we wish her all the best for the future. I
am really pleased that Hannah Bellamy, an existing trustee and member of the Committee. has
agreed to lake on the role of Committee Chair.
To further strengthen the expertise of our board and Projects Committee we have undertaken a
trustee recruitment campaign. Having received hundreds of applications I'm delighted to annoLJnce
that we have appointed Keith Kibirango, and Professor Freda Wolfenden. Both bring extensive and
highly relevant expertise to the board and to the Projects Committee.
Having apwinted an extemal company secretary in 2024, we have spent time in 2025 working
through the recommendations of our external governance audit. We have updated many of our
policies and embarked on some formal training of the board. Whilst there is more to do, we have
made significant progress, and I thank all those who have been involved in improving our governance.
Charitable income increased to £2.08m in 2025, a 9% YOY increase. This is only the second time in
our history that our income has exceeded £2m and, given all the challenges in the UK economy, it is a
very positive outcome. I would like lo thank every team member, customer and partrer associated
wrth the Costs Coffee business who has helped lo deliver this.
Whilst individual store fund raising remains our blggesl single source of income, there are some other
very significant income streams. Event income is growing, including the Costa Coffee golf day and
first independent franchise gala dinner. and this year saw the tenth anniversary of Costa Coffee's
sponsored bike ride. This one event raised £140k. We also saw a 30Qh increase in our income derived
from products sold in stores where a donation is made to the charity. The single biggest conlribulor is
a range of reusable cups. A huge thank you to everyone who helped us raise fvnds for the Costa
Foundation.
In 2025 we have approved grants for 14 projects. In 7 countries, totaling £1.8m. Significantly, and in
line with our strategy, ol these are UK projects. This will be the first time that we have supported
communities in the UK, the country in which the majority of the Foundation's funds are raised.
Working with our partners in coffee growing communities of the world we have completed 12 projects
this year, supporting over 6,500 children and young people.
On behalf of the board, I would like to reccgnise the dedication of so many who make everything
possible- our Costa Foundation team-. Kale, Faye & Karra, our in-county delivery partners, all Ihose
supporh.ng us within Costa Coffee, and all our other partners, supporters and volunteers.

CONFIDENTIAL
The Costa Foundation
Company Limlted by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Reporti
Year ended 31 December 2025
l also would personally like to thank my fellow trustees, who selflessly give their time to support the
Foundation. With such a small team we would be unable lo deliver so much wilhoLrt the board's
dedication and expertise.. .thank youl
In the year ahead, as we move towards celebrating 20 years of the Cosla Foundation, I look forward
to seeing the Foundation build on the successes of 2025, helping lo change the lrfe stories of even
more children and young people across the world.
RfJJSwr
7¥376MTt1}
Jul 20, 2026
Rob SYry¢r- Chalr, Thè Costa Foundation

CONFIDENTIAL
The Costa Foundation
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrector's Report)
Yèar ended 31 December 2025
Reference and admlnbtrative details
Registered charily name
The Cosla Foundation
Charity registration number
1147400
Company Tegi5tration number
08064488
Prlneipal olfice and registered
offlce
3 Knaves Beech Business Park
Davies Way
Loudwaler
High Wcombe
Bedfordshire
HP10 9QR
UK
The trustees
A Agga￿al
L Camfield
H Finn
C Balfour-Poole
H Bellamy
R Svryer
R Blyth
N Orrin
C Angrand
K Kibirango
F Wolfenden
{R8sKJned 31 December 2025)
(Appointed 28 April 20251
{Appoinled 14 April 20261
(Appointed 14 April 2026}
L Camfield resigned from the board following six years in the role of trustee and Projects Committee.
The Foundab"on was incorporated at Companies House on 10 May 2012, registered as a charity with
the Charity Commission on 23 May 2012 and with the Office of the Scottish Charity Regulator on 17
September 2012.
Prior to the incorporation of the Foundation. donations were collected in an account maintained by
Charities Trust, an independent registered charity, pursuant to an agreement with Costa Limited and
with the intent Ihat the monies in the account would be used for similar charitable purposes to those
adopted by the Foundation. Following incorporation, Charities Trust transferred the fvnds then hetd by
them to the Foundation.
The Articles of Association of the Foundation established the objects and powers of the Foundation. In
the event of the Foundation being wound up, members are required to contribute an amount not
exceeding £1 each.
Company secretary
Gillian Long
Executlve Dlrector
Kate O'Brien

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Year ended 310ecember 2025
Aud]tor
MC Audit Limited
Slatulory Auditors
Station House
North Street
Havanl
Hampshire
P09 1QU
Bankers
National Westminster Bank PIC
PO Box 12263
1 Princes Street
London
EC2R 8PH

CONFIDENTIAL
The Costa Foundation
C(Thpany Limited by Guarantee
Trustees. Annual Report (Incorporats"ng the Directorfs Report)
Year ended 31 December 2025
Structure, govfrrnanco and management
Relationship with Costa Limiteil
Under the Articles of Association of the FoundatT"on. Costa Limited I'costa'l has the power to appoint
Trustees of the Foundation provided at least Trustees are appointed by the Board of Trustees.
Cosla is party lo a Commercial Participation AgTeement with the Foundation lo enable Costs to ra1se
funds through the sale of certain products from which it has agreed to donate certain proceeds to the
FoLJndalion. Funds were also raised via fundraising from Costa's employees and members of the
public.
Fundrnlsing Approach
The Foundaty'on's approach to fundraising is to predominantly use the relationship with Costa, its
employees, custorners and pathers to raise funds through fundraising activities and the sale of
products. The Foundation does nol carry out street fundraising, fundraising mail shots or telephone
canvassing-
The Foundation works with Costa to ensure fundraising for the Foundation complies with recognised
standards. Fundt3ising practi￿ is monitored by the trustees of the charity, includin9 any fundraising
complaints {none were received during 20251 and always seek to protect the public, including
vulnerable people, from unreasonably intrusive or persistent fundraising approaches and undue
pressure to donate.
Goyernlng Document
The Foundation is incorporated as a private company limited by guarantee No.08064488.
The Costa Foundation is a registered charity in England and Wales No. 1147400. a registered
charity in Scotland No.SC043414.
The Articles of Association of the Foundation estrdblished the objects and powers of the FDundation.
Oryanisational Stwcture
The Board of Trustees meets at least four times a year and oversees finance, Current project work
and the future strategy of the Foundation.
The Foundation also has one sub-committee." thè Projects Committee. The purpose and duties of this
committee is set out in the terms of reference and are broadly outlined below..
al To recommend lo the Board the projects strategy in fulfilment of the Foundation's Theory of
Change
bl To prepare annual budgets for projects and other matters wtthin the remit of the Committee
cl To consider for approval all projects presented for funding by the Foundation
dl To develop and implement a system for the monitoring and evaluation of Foundation projects
el To monitor all external delivery partners for Foundation projects and lo recommend new
partners lo the Board as relevant
Th& Projects Committee use$ a $trategi¢ matrix to assist in the evaluation of project proposals and
collects detailed monitoring and evaluation information on Foundation projects to measure their
impact and success acro$s several key performance indicators. It reviews delivery partner
performance and approves new delivery partners when appropriate.
Trustees visit projects to improve their understsnding of the educational needs in coffee growing
communities and to ehe¢k that the fvnds are being used appropriately.
The Foundation held Trustee Indemnity Insurance during the period.

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report}
Yèar ended 31 December 2025
Karra Jones was recruited as Fundraising & Engagement Officer in Novembèr 2025 to join the
Foundation team and provide additional support to Kate O'Brien, Executive Director of the
Foundation.
Prlnclpal rlsks and uncertalntles
The Trustees have examined the major strategic, financial, operational and reputstional risks which
the charity faces and regulady review what actions can be taken to mitigate these risks. The five risks
that would have the highest impact are.. a significant decrease in income, especially given reliance on
a single supporter Icosta Coffee and related entttiesl", a safety or security incident on a monitoring
visit to one of the countries the Foundation funds,. safeguarding issues in Foundation funded 5chi)ols',
a reduction in purchasing power due to inflation or currency movements and relian￿ on a small team
lo deliver the work of the Foundation.
These risks are mitigated by ongoing investment in building and maintaining strong and positive
relationships with Cosla and the Foundation's delivery partners. In addition, the Foundation has a
safeguarding policy, conducts due diligence with delivery partners, and visits projects lo mitigate
against the risk of misconduct Of breaches of safety. All Iruslees undertook safeguarding training in
2025, and a thorough review of the safeguarding policy was completed. A full risk assessment is
conducted before any overseas th"p with appropriate training and monitoring measures in place for all
Iravellers. Grants are given based on the funds available in the bank and no project applications are
fully approved unless the Foundation has sufficient funds lo cover the entire budget required for that
project. The Foundation purchases any required currency once a project has been approved to
mitlgate any rfsk of unaffordability as a result of currency flU¢￿atIOns.
Objectives and activities
The Foundation's Articles slate the charity's purpose is.. Prevention or relief of poverty., Advancement
of education. including the establishment & operation of schools & other educational establishments,.
Advancement of health or the saving of lives,. and Advancement of environmental protection or
environmental improvement, in all cases anywhere in the world, in particular (without lirnitation) within
coffee growing communities and surrounding areas.
The charity's vision is to eradicate poverty in wffee growing communities. and its mission is to
improve the life chances of children and young people in coffee growing communits'es by providing the
opportunty of a safe, quality education.
In the consideration of projects, the Trustees have due regard to the Charity Commission's guidance
on public benefit. The Trustees always ensure that the projects undertaken are in line with the aims
and objectives of the Foundation and use its Theory of Change to guide their decisions.
All projects eA)ntinue to be implemented via delivery partners based in the countries where the
projects are undertaken. The delivery partners range from charitable non-governmental organisab.ons
to the sustainability teams of coffee companies.
Most grants awarded by the Foundation fund schools that provide access lo a safe, quality education
for children and young people within coffee growing communities. All new school construction projects
are required to have fresh water and separate sanitation facilib.es for boys and girls. The Foundation
also awards grants to expand schools previously built with Foundation fvnds. Depending upon local
needs, the Foundation funds electricity installations. boarding accommodation, teachers,
accommodation, libraries, science labs, computer labs, sports pitches and safety infrastructure, such
as perimeter fencing, safety lighting and flood barriers. It also funds equipment to enhance educab'on.
such as for extra curricula activities.
The Foundation fvnds training for teachers and school leaders lo improve the quality and safety of

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Yoar ended 31 December 2025
education, as well as other programmes to improve the quality and accessibility (espeGially for girls} of
education, wellking and safely, such as providing bicycles for studenls.
The Foundation works with communities and local authorities where its school projects are locat￿ via
ils delDiery partners bul does not employ leaching staff or fund s¢hool pla¢es. The schools funded in
Uganda and Zambia are operated by the charity Promoling Equality in AfrI￿n Schools IPEAS) where
the teachers are employed and paid by PEAS. More information is on the PEAS websrte at
www.peas.org.uk. All other Foundation knnded schools are run by teachers trained and funded by the
government in country or other NGOS. This system ensures the sustainability of the schools as they
a￿ not reliant upon continued funding from the Foundation to operale.
Achlevements and p8rformanc8
Projects Funded from 1 January 2025 to 31 December2025
During the year ended 31 December 2025, 12 projects funded by the Foundation were ¢ompleted by
our partners, supporting over 6,500 children and young people in coffee growing countries. Global
inflation and geopolib.cal challenges, the impact of the climate crisis causing delays due to adverse
weather conditions, and local administrative delays continue to challenge our partners, and mean the
cost of implementing projects is continuing to rise. Thanks to exceptional fundraising from the teams
across Costa Coffee and our partners, we've been able to approve 14 projects in 2025, totalling
£1,595,796.68, including eight school constructions and one programme.
Three of Ihese are not included in Ihe total amount granted in the accounts as the grant agreements
were not signed until early 2026. This included two projects approved in the UK for the first time to
give back to the coThnunities who support the Costa Foundation via the Costa Coffee stores.
The new projects awarded fvnding in 2025 are as follows:
Name of
$¢hooll
ecl
Improvement of
rural education in
Olopita Community
Grant
mount
Descrf tion
New school
Count
Guatemala
Partnor
Seeds for
Progress
Torn7
2025-
2026
85 535.48
Basura primary &
secondary school
sanitalitsn bl¢cks
Expansion
Ethiopia
Imagine1 Day
2025-
2026
£56,211.27
Konga Secondary
School
Growing futures..
Improving
secondary
education for
marginaltzed
students in coffee
growing
communities.
2025-
2026
New school
Programme
Elhio
ia
Uganda
inelDa
PEAS
£274,540.74
2025-
2026
£203,554.00

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report Ilncorporating the Directorfs Report)
Year ended 31 December 202S
20110 Nong Truong
Nursery, Gia Lai
Province
New school
Vietnarn
ACOM
2025-
2026
2025-
2026
£223,617.64
£67,439.00
Empowerment of
new generations in
coffee communits'es
- 4 schools
School projeGt
Colombia
FNC
£290,928.55
2025-
2026
Lemlem Secondary
School
Increasing access to
quality science
education in
marginalized coffee
growing
ommunilies in
anda - Noble
Increasing access lo
quality science
education in
marginalized coffee
growing
communities in
anda - Frontiers
Increasing access to
quality science
education in
marginalized coffee
growing
communities in
anda - Pioneer
Classrooms for
Nueslra Sefiora del
Camien
New School
Expansion
Ethio
Uganda
Ima
ine1Da
£49,584.00
2025-
2026
Expansion
Uganda
PEAS
£64,569.00
2025-
2026
Expansion
Uganda
PEAS
£64.569.00
2025-
2026
New school
Colombia
Fundacion
Carcafe
£215,250.00
202&
2026
Total lundlng awarded 2025: £1,595.796.68
ddilional projects approved for fvnding in 2025, with funding agreements signed in 2026. N.B These
are not included in the 2025 accounts.
San Pedro de
New school
Buculmay School
xpansion &
renovation proje¢t
Nicaragua
Fundacion
Nlcafrance
£176,710.50
2026
'FAWcused
Flavours, _
repurpose of
eaching kllchen
Expansion
UK
Five Acre
Wood
£24,999.95
2026

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2025
Planting
Possibilities'_
Supporting disabled
children and young
people to develop
enterprise skills
hrou
h horticulture
Programme
UK
reloar's
£25,000.00
2026
Total approvod additional proj¢¢ts:
Total approvgd projects 2025:
£226,71 OA5
£1,822,507.13
An overview of projects completed and funded in 2025 is as follows..
Compleled 2025
Appfovad for
funding 2025
Grant
agreements
si
ned 2025
New schools
School
ansions
Pro
rammes
12
14
11
Totsl all
ects
Total
rant value of
ro
ects
Total # children and young people
su
orted via
rants
ro
£1,046,316.51
6,515
£1,822.507.13
95,988
£1,595,796.68
95,286
N.B. Project 13E3 PEAS Hibiscus sports pitch was cancelled due to challenges around acquisition of
land and addib.onal funds of £6,123 were allocated to project 48E8 PEAS Aspire sports pitch due lo
constructson Ghallenges.
What scffie ofthe children and young people and members from the communities we have supported
say..
"I want otherstud&nts to have this chance. Thanks to the Costa Foundab'on and Imaginelday, TaRL
helped me love malh. I hop6 every student ¢anioin andleam like I did. I ngver thought I'd say it, but
now math is my favorite subject..
- Hibrot, 14 years old- TaRL programme, Imagln81 Day. Ethiopla
'The Community comment il as °th8 b8st school th8y've everseen in 77 Gl)mmun8s in W8Stom Gia
Lai province."11 shines like a spark of light in th8 remot8 mountains..
- ACOM toam. la Pet Nursery. ACOM. Wietnam
°My heart is happy, I feel grateful and blessed becaus8 w8 finalty achieved 8 dream projoct. The
school was abandoned and the Ch￿dren were going to study in the neAghboring communitiés, it was
not fair th81 our children did not have 8 school and now we hav8 achieved it. May God bless the
donors, the intem]edi8ries and aach parent who contnbuted work and d8dication, we all dNd our part..
- Milvian Judlth Garela, Pre$(dent of the Parents, Organization at El Zapotal School. Seeds For
progress. Guatemala
'When the school was built here, everything chang8d. The school Game to Us. This school changed
my lrfe. It protects girls fvom child Ma￿lage and giv8s us a chanGe to build a better futur&.'
- Fetra, 17 years old - Chekata Secondary School build. Imagine1 Day> Ethiopla
10

CONFIDENTIAL
The Costa Foundation
Company Limited by Guaranta8
Trustses, Annual Report (Incorporating th8 Dir8Ctorfs Report
Year ended 31 December 2025
We would like to lake this opportunity to thank all at Cosla Coffee, their partner$ who have supported
the Foundation and other donors for their partnership and support. This includes the Moto
Foundation, Roadchef, Odeon, Jim's Organi¢ Coffee and independent franchise partners such as
Scoffs. The first gala dinner for Costa's store independent franchise partners look place in
September 2025 to raise funds for the Costa Foundab'on. We would also like lo give $pe¢ial thanks to
our delivery partners who work so eflectively with local communities and other key stakeholders, often
in challenging circumstances. We are delighted that we've been able lo report continued activity al the
levels shown above and Iruty appreciate their hard work, resilience, commitment and absolute focus
on providing the opportunities to positively change the lrfe story of so many children and young people
in coffee growing communits'es.
Communl¢ation
Our website contains vldeos. case studies and stories from around the world. For more informatton
visit www.co$tsfoundab'on.com. In addition, our Inslagram page (@costafoundalionl and Linkedln
page Ihttps'.Ilwww.linkedin.comlcompanylcostafoundationl are regularly updated with image5 from
coffee-growing ¢ommunilie5 around the woild that have benefited from a Costa Foundatson funded
project plus many stories and images f￿rn our inspiratiollal fLbndraisers in Costa Coffee stores and
beyond.
Flnanclal reviow
Total income for the year ended 31 December 2025 was £2,080,93612024' £1.912,36012023.'
£1,589,57412022.. £1,287,715}. The increase in income is predominantly due to brilliant fundraising in
Costa Coffee sloTe5 in the UK and Ireland, a fantastic year of merchandise sales where £1 is donated
lo the Foundation for specific reusable cups and from events such as the annual bike ride organised
by Costa Coffee teams, which celebrated its 10th anniversary. and lle Costa Golf Day, which raised
double the funds in 2025 than 2024.
£1,460,559 was paid out or formal￿ committed lo in the year to 31 December 2025
and at the balance sheet date a further £594,749 was committed but not accrued as the relevant
milestones were subject to conditions that had not yel been met. Other expenditure of £264,916 was
made in respect of management of the projects and costs relating lo the running of the Foundation.
ReseNe8 at 31 December 2025 amounted to £1.848.342131 December 2024.. £1.476,726131
December 2023.. £1,094,488131 December 2022.. £1.173,5861.
Resèrves and Investment Policy
The Rese￿eS at the year*rid of £1,848.342 comprising £1,468.573 of cash are held by Nat Wesl and
varK)us notice and terni cash deposit accounts on the Flagstone banking platform. The Trustees
monitor reseNe levels regularly to ensure that all commitrnents are met and that future project
requests are reviewed on a timely basis. Funds are only committed lo new projects once the income
has been received. As a result, there is a delay of some months between the r8ceipl of funds, the
approval of projects and the subsequent expenditure of funds lo complete those projects. Those
funds identified for fubjre projects are held in cash balances for safekeeping pending their
expenditure.
The reseNes policy was chartged in 2024 to increase from £75.000 to £200,000 in order to provid& for
a close down of the Foundation. This is calculated based on the costs of li) keeping currently
employed staff in position for one year lill contracted in Board Secretarial and accounting foi one year
and liiil an allowance for ad hoc addibonal costs such as travel. As projects are not signed off until
funds are received, reserved fvnds are not required for uncertainty of future income, or 'lroughs" in
the cash budget.
Investment Poll¢y
investment poliGy was agreed in 2024 to slate that £200,000 reserves are to b8 invested in interest

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporats"ng the Directoffs Report)
Year ended 31 December 2025
bearing savings accounts. All savings are to be invested in FSCS protected institutions, with no more
than the protected £120,000 invested in a single instttution. Savings accounts are lo be GBP
denominated and may be'notice deposits, requiring advance notic8 of withdrawals. Investment may
be made through a trusted investment portal such as the Flagstone portal endorsed by th8 Charili6s
Aid Foundation.
Trusteos. responslbllltles ststement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees, report and the financial 8tstements in accordance with applicable law and United
Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice)-
Company law requires the charty trustees lo prepare financial statements for each year which give
true and fair view of the slate of affairs of the charitable company arbd the incoming resources and
application of resources, Including the income and expenditure, for that pèriod.
In prepaTing these financial statements, the trustees are required to..
select suitable accounting poliaes and then apply them ¢onsislenlly',
observe the methods and principles In the applicable Charities SORP.,
make judgments and a¢¢ounting estimates that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless il is inappropriate to
presume that the charity will continue in bLJsiness.
The trustees afe responsible for keeping adequat8 accounting records that are SUffi￿ent to show and
explain the charity's transactions and disclose wf(h reasonable accuracy at any lime the financial
position of the charity and enable them lo ensure that the financial slalements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the PTevenb"on arKI detection of fraud and other irregularities.
Thetrustees, annual reF)Ortwas approved on 201hJuly 2026 and signed on behalfof the board of tnjstees
by..
Jbr
2U,10￿17¥6v1(￿lt+f1
Jul 20, 2026
R Swyer
Trustee
12

CONFIDENTIAL
The Costa Foundation
Company Limitsd by Guarantse
Independent Auditorfs Report to the Members ot The Costa Foundation
Year ended 31 December 2025
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE COSTA FOUNDATION
Opinion
We have audited the financial statements of The Costa Foundation {the 'charitable ￿MpanY') for the
year ended 31 December 2a25 which comprise the Statement of Financial Aclivits'es, the Balance
Sheet and notes lo the financial statements, including a summary of significant accounting policies.
The financial repDrting framework that has been applied in their preparation is applicable law and
United Kingdom AcGounling Stsndards {United Kingdom Generally Accepted Accounting Practice).
In our opinion the finanGEal slatemenls..
give a true and fair view of the state of the charitable company's affairs as al 31 December 2025 and
of its incoming resources and application of resources. including its result, for Ihe year then ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
have been prepared in accordance with the requiremenls of the Charities and Trustee Investment
(Sco￿and) Act 20D5 and regulation 8 of the Charits'e$ Acwunts (S￿lIand} Re9ulalions 2006 {as
amended}.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Audlts'ng {UK) IISAS IUK}l and
applicable law. Our responsibilrties under those standards are further described in the Auditors,
responsibilities for the audii of the financial statements section of our report. We are independent of
the charitable company in accordance with the ethical requirement5 that are relevant lo our audit of
the financial stalemenls in the UK, induding the FRC'S Ethical Standard, and we have ftjlfilled our
other ethical responsibilf(ies in accordance with these requiremen15. We believe that the audit
evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Con¢lusion$ relating to going concern
In auditing the financial statements, we have concluded that the trustees, Use of the going concern
basi$ of acwunling in the preparation of the financial ststemenls is appropriate.
Bas￿ on the work we have performed, we have not idenlffied any material uncertainties relating to
events or ￿ndItionS that, individually or collectivety, may cast significant doubl on the charitable
company's ability to continue as a going concem for a period of at least twelve months from when the
financial ststements are authorised for issue.
Our responsibilities and the restx)nsibilities of the trustees with respect to going concem are
described In the relevant sections of this report.
Other Infomiatlon
The trustees are responsible for the other infomiab'on. The other information comprises the
information included in the Annual Report. other than the financial statements and our Report of the
Independent Auditors thereon.
Our opinion on the financial statements doès not cover the other information and, except lo the extent
otherwise explicitly staled in our reFQrt, we do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and. in doing so, consider whether the other infom)ation is materially inconsistent with the
financial statements or our knowledge obtained in the audrt or otherwise appears to be materially
misstated. If we identify such material inconsistencies
13

CONFIDENTIAL
The Costa Foundatlon
Company Limited by Guarantee
Independent Auditorfs Report to the Members of The Costa Foundation
Year ended 31 December 2025
or apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements 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.
Opinions on other matters prescribed by th& Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit
the infonT)ation gtven in the Report of the Tnjstees for the financial year forwhich the financial slatements
are prepared is consistent with the financial statements,. and
the Rep)rt of the Trustees has been prepared in accordance with applicable legal requirements.
Matter5 on which we are requlrrfl to report by exception
In the light of the knowledge and tjnderstanding of the charitable company and its environment
obtained in the course of the audi( we have not identified material misstatements in the Report of the
Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate accounting records have not been kept or returns ￿tequate for our aLKJit have not been
received from branches not visited by u5., or
the financial ststemenls are not in agreement wlth the a¢￿￿ntIng records and returns- or
certain disclosures of tmstees, remuneration specthed by law are not made,. or
we have not received all the informab'on and explanations we require for our audit-, or
ihe trustees were not entiued lo take advantage of the small companies exemption from the requirement
io prepare a Strategic Report or in preparing the Report of the Trustees.
Responslbllltles of trustees
As explained more fijlly in the Statement of Trustees, Rèsponsibilities, the trustees {who are also the
directors of the Charitable company for the purposes of company lawl are responsible ft)r the
preparation of the financial statements and for being satisfied that they give a true and fair view, and
for such internal Control as the trustees determine is necessary to enable the preparation of financial
statements thal are free from material misstatement, whether due to fraud or error.
In preparing the financlal slalements, the trustees are responsible for assessing the charitable
company's ability to continue as a going concern. disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to liquidate
the charitable company or lo cease operations. or have no realisti¢ altemative but lo do $0.
Our responsibilities for thg audit of the financial statements
Our ubjective5 are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement. whether due to fraud or error, and lo issue a Report of the
Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance,
bul is not a guarantee that an audit conducted in a¢cordan¢e with ISAS {UKI will a￿ayS detecl a
mateiial misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they cou5d reasonably be expected lo influence the
economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are ¢apable of detecting irregularities, including fraud is detailed
below.
From discussion with management and those ¢harged with governance information about the entity is
documented to assess the activity wilhin the organisation. We discuss management's assessment of
risk in res￿¢1 of irregularities, fraud and going concern.
14

CONFIDENTIAL
The Costa Foundation
Company Limlted by Guarantee
Indèpendent Audito￿$ Report to the Mèmbèrs of The Cosla Foundation
Year ended 31 December 2025
Based on these discussions and our own assessments we determined that the key risk areas were
income recognition in respect of cul off issues and management override concerning the size of the
organisation.
We sel financial statement materiality level based on the level of income. As a not for profit
organisation raising income is its primary focus which is why income was used to determine the level
of materiality. Our overall assessment of risk was used lo detemiine performance materiality at an
appropnale level.
Substantive audit tests were designed after assessing and performing walkthrough tests. The
walkthrough tests.ng confirmed documented systems which have been designed to act as a
preventative measure against fraud and error which appear to be operating as documented.
Substsnlive teskn.ng tested a sample of the population, representative of the population, to ideritify
errors. The testing did not identify any material misstatements in areas tested.
Audit substantive tests concluded no material errors over the key risk areas of income recojnition and
management overrpje.
The audit considers the organisation is not exposed to material risk of error as a result of assessing
laws and regulations that are appropriate lo the organisation.
Management assessed there is no going concern risk. The audlt undertook a review of bud9ets.
m8nagement accounts and the review of board mlnutes and came to the same conclusion as
management.
A lurther description of our responsibillties for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description
forms part of our Report of the Independent Auditors.
Use ol our report
This report is made solely to the char(table company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matter5 we are required lo state to them in an
auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the charitable company and the charitable company's
mèmbers as a body, for our audit work, for this report, or for the opinions we have formed.
Stuart Mackne (Senior Statutory Auditor)
for and on behalf of MC Audit Limited
Stalulory Auditors
Lake House
2 Portway
Port Solent
PortsmoLrth
Hampshire
P064TY
Date..
15

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Statement of Financial Activities
Ilncluding Income and expenditure account
Year ended 31 December 2025
2025
Restricted
funds
2024
Unrestr'cted
funds
Total
funds
Total funds
Income
Income and endowments
Donations and legacies
Investment income
Note
2,030,936
8,604
50,000
2,080,936
8,604
1.912,360
Totsl income
2.039 540
50,000
2,089,540
1912360
Expenditure
Expenditure on ¢haritsble
activities
1.717,924
1725,475
1,808,395
Total expenditure
1.717,924
7,551
1725,475
1808,395
Nel {expendilurellincome
and nel movement in funds
321616
364,C65
103.&fj5
Rèconcillatlon of funds
Total funds brought forward
1,476,726
7,S51
1,484,277
1,380.312
Total fiinds carried forward
1798,342
1848 342
1,484,277
The slalement of financial activities includes all gains and losses recognised in the year. All income and
expendrture derwe from continuing activities.
16

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Statement of Financial Position
Year ended 31 December 2025
2025
2024
Note
Current assets
Debtors
15
d96.043
324,600
Cash al bank and in hand
1.468,573
1.369.930
1,964,616
1,694.531
Credltors: amounts falling due within one
year
16
116,274
210,253
Net current assets
1.848,342
1484 277
Total assets less current liabilities
1.848,342
1484 277
Funds of the ¢harty
Restricted funds
50,000
7,551
Unrestricted funds
1798 342
1476 726
Total charlty funds
18
1,848,342
1.484.277
These financial statements have been prepared in accordance with the provisions applicable to
companies subject io the small companies, regime.
These fi'nancial statements were approved by the board of trustees and authorised for issue on 20
July 2026, and are signed on behalf of the board by..
Jjr
Jul 20, 2026
R Swyer
Trustee
The Costa Foundation is a Company limited by guarantee registered in England and Wales. Company
number 08064488. Charity number 1147400.Scottish charty number SC043414.
17

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
statement of Cash Flows
Year ended 31 December 2025
2025
2024
Cash flows from operatlng activities
Nel (expendi￿re111ncOme
Adjustments for..
Interest payable and similar charges
364,065
103,965
Changes in..
Trade and other debtors
1171,442)
42,395
Trade and other credrtors
93,980
630
Cash generated frorn operations
98,643
145,730
Interest paid
Net cash (used in) From operating actNilies
98,643
145,730
Net Idecrease)Ilncreas8 in rash and cash equivalents
145 730
Cash and cash equivalents at beginning of year
1 369 930
1,224,200
Cash and cash equivalents at end of year
1,468 573
1.369,930
18

CONFIDENTIAL
The Costa Foundatlon
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2025
1. G8ngral Infomiatlon
The Costa Foundation is a company limited by gL¢arantee, incorporated in England and Wales.
The address of ils registered office, its registered numbers and principal place of business is
disclosed in the Trustee's Annual ReporL
The principal activity of the charity is the advancement of edu¢ation, the relief of poverty and the
advancement of health and environment of coffee-growing communities around the world. The
financial statements are prepared In steding, and this 1$ the functlonal curren¢y of the Charity.
2. Statement of complianco
These financial statements have been piepared in Complian￿ with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ir&land', the 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 {FRS 102} (Charities
SORP IFRS 10211 and the Companies A¢t 2006.
3. A¢¢ounting poli¢les
Basis of preparation=
The financial statements have been prepared on the historical cost basis, as rnodified by the
revaluation of certain financial assets and liabilits'es and investment properties measured at fair
value through income or expenditure.
The financial statements ar8 prepared in Sterling, which is the fvnctional currency of the entity.
Going concern..
These financial ststements have been prepared on the going concern basis. This is based on the
charity reserves policy, plus the fact the charity only commits to projects once income has been
raised, committed project expenditure is already secure. Therefore, we do not view any going
concern risk for the charity.
Judgements and key sources of estimation uncertainty..
In applying the company's accounting policies, the trustees are required to make judgements,
estimates and assumptions in determining the carrying amounts of assets and liabilities. The
trustees, judgements, estimates and assumptions are based on the best and most reliable
evidence available at the time when the decisions are made and are based on historical
experience and other factors that are consideTed to be applicable. Due to the inherent subjectivty
involved in the making such judgements, esb'mates and assumptions, the actual results and
outcomes may drffer.
The trustees do not consider there to be any significantjudgements, estimates or assumptions in
these finanoial Ststements.
Foretgn exchange..
Transactions denominated in foreign currencies are translated into steding on the exchange rate
ruling on the date of the transacts"on.
19

CONFIDENTIAL
The Costa Foundation
Company Limited by Guaranlee
Notes to thè Financial Statsments
Year ended 31 December 2025
Fund accounting..
Unreslricled funds are available for use at the discretion of the trustees to ￿rther any of the
charity's purposes.
Designated knnds are unrestricted fvnds earmarked by the trustees for particular future project or
commitrnent.
Restricted funds are subjected to restrictions on their expenditrjre declared by the donor or
through the terms of an appeal and fall into one of sutrflasses-. restricted income funds or
endowment funds.
Incoming resources..
All income is included in the statement of financial aclivitses when entl￿ement has passed to the
charity, it is probable that the economic benefits associated wlh the Iransactton will flow to the
charity and the amount can be reliably measured.
Resources expended..
All support costs incurrerj have been allocated be￿een charitable expenditure and governance
as appropriate. There are no costs relating to more than one fvnctional cost category. All
expenditure and liabilities are included on an accruals basis and recognised when there is a legal
or constructive obligats.on to pay out resources.
Financial instruments..
The Costa Foundation has only financial assets and liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initialty recognised at transaction values and
subsequently measured at their settl8m8nl value.
Deffi[￿l contribution plans..
Contributions to defined contribution plans are re¢ognised as an expense in the period in which
the related setvi(E is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refijnd.
When contributions are not expected to be settled wholly within 12 months of the end of the
repo￿ng date in which the employees render the related service, the liability is measured on a
discounted p￿sent value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
4. Limited by guarantee
The Foundation is incorporated as a private Company limited by guarantee. The Articles of
Association of the Foundation established the objects and powers of the Foundation. In the event
of the Foundation being wound up, members are required to contribute an amount not exceeding
£1 each.
20

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Not8S to the Financial Statements
Year ended 31 December 2025
5. Donatlons and legacles
unrestn.cted
Funds
Restricted
Funds
Total Funds
2025
Donations 2025
Donations from sales of products in
Costs stores
Store Fundraising
Matched Giving
Donations from Costa
Donations from fundraising
General and gift aid donations
Payroll Giving
602,925
944,218
225,000
602,925
944.218
225.000
205,320
53,473
205.320
103.473
50,000
2,030.936
50,000
2,080,936
Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Donatlons 2024
Donations from sales of products in
Costa stores
Store Fundratsing
Matched Giving
Lk)nalions from Costa
t)onalions from fundraising
General and gift aid donations
Payroll Giving
262,560
1,010.387
200,000
200.000
462,660
1,010,387
200,000
149,997
89,416
149,997
89,416
1,712,360
200.000
6. Investment Income
Investsnenl income Comp￿SeS wholty bank interest £8.60412024'. £01
21

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Ststements
Year ended 31 December 2025
7. Expenditura on charitable activiti88 by fund type
Unrestricted
Funds
Restricted
Funds
Total Funds
2025
Project Expenditure (note 9}
Project management costs
Costs of raising funds
SupkX)rt costs
1,453.008
17.709
30,351
216,856
1717,924
7,551
1,460,559
17,709
30.351
216,856
1725 475
7,S51
Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Project Expenditure (note 91
Project management costs
Costs of raising funds
Supportcosts
1.418,826
28,721
39,101
129,298
1,615,946
192,930
1.611.756
28,721
39,101
128.817
1,808,395
481
192,449
8. Support costs
Unrestricted
Funds
Restricted
Funds
Total Funds
2025
Govem8nce costs
Other support costs
27,967
188,889
216,856
27,967
188,889
216,856
Unreslri¢ted
Fund$
Restricted
Funds
Total Funds
2024
Govemance costs
Other support costs
8,822
120476
129,298
8,822
119,995
128 817
481
481
22

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Ststements
Year ended 31 December 2025
9. Expenditure on charitable a¢tlvlties by aetlvlty typo
Grant
funding
Activities
undertaken
directly
Totsl
Funds
2025
Support
Costs
Total Funds
2024
activities
Project Expenditure (note
9)
1,460.559
1,460,559
1,611.756
Project management costs
17,709
17,709
28,721
Costs of raising funds
30,351
30,351
39,101
Other support
188,889
188,889
119,995
Governance costs
27,967
27,967
8,822
1508619
216 856
1725 475
1,808.395
10. Proj8ct Exp8nditure
Total
Funds
2025
Total
Funds
2024
Unrestricted
Funds
Restn"cted
Funds
Included In project expendlturgls:
Lien Son Nursery School
Tan Chau Nursery School
Bridge High school- dormitory
El Remolino Perimeter Fence
Rural Government School- Zapotal
Community
Gem)an Pomares Ordohez and Azarlas
H. Pallais primary school
Chekala Secondary School
Land Expansion at PEAS Bridge
PEAS Aspire Construction of Sanitary
Block with incinerator at PEAS Aspire
Aspire, 13E3- Hibiscus. 20E3- Pioneer
Building a safe, holistic learning
environment- Aspire. Uganda
PEAS Noble Construction of Sanitary
Block with incinerator at PEAS Noble
Building a Better Future for Honduras 4
Rural education and child labour project in
the Zapotal Community
Monitoring, Evaluation, Reporting, and
Learning IMERL) and te¢hnic41 support
for Costa Foundation funded Schools in
Ethiopia.
105,188
106,071
34,777
55,093
13,669
13,669
100,166
187,338
134,278
13,437
160,414
160,414
19,700
79,785
6.123
6123
19,700
90,000
21,546
21.546
21,546
10,973
23

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 Dècember 2025
Cornputer Lab at Arda aalu 5¢hool
Brighter Future- Guatamala
Kabuta'Building a Safe, Holistic Leamirbg
Environment. Construction of a multi-
purpose football pitch at PEAS Kabula
Arda Qalu Secondary School Project
Monitoring & Evaluab'on for project CF60
Mario
3,6
90,000
72.000
72,000
10,561
128,019
1,829
Teaching al The Right Level ITaRLI for
Children in Costa Foundatiun
Cycling for Success Uganda
La Pet Nursery School
Improvem&t)t of rural education in Olopita
Community - Guatemala
Konga secondary school- Ethiopia
20110 Twong nursery- Vietnam
Lemlem Secondary School- Ethiopia
Pioneer science project Uganda
Noble science project
La Paz.. 3 school project- Honduras
Basura sanitstion blocks- Ethiopia
empowerment of 4 communities-
Colombia
Growing Futures - Uganda
Fronb'ers science project Uganda
Repayment of surplus
42,540
42,540
121,571
81,964
104,945
104,945
76,371
247,087
111,809
146,088
32,285
24,792
64,449
50,590
76,371
247,087
111,809
146,088
32,286
24,792
72,000
50,590
7,551
26,976
203,554
32,285
26,976
203,554
32,285
13,0001
Committed, not paid:
La Pet Nursery School
Aspire, 13E3- HibiscLJS, 2DE3- Pioneer
San Jose de Lourdes
Classrtsoms for Nueslra Sefiora del
Camen
106,462
10,561
82,040
11D,5611
{82,0401
110,561)
182,040)
108,087
108,087
1453 008
1460,559
1611,756
11. Taxatlon
The charity's activities fall within the exemptions afforded by the provisions of the Income and
Corporation Taxes Act 2010. A¢¢ordingly, there is no tsxatson charge in these a¢¢ounts.
12. Net (expendtturey incom8
Net lexpenditure)lincome is slated after chargingl{creditingl'.
2025
2024
24

CONFIDENTIAL
The Costa Foundation
Company Limited by Guaranlee
Notes to the Financial Statsments
Year ended 31 December 2025
Fees payable for the audit of thè financial statements
6,660
7,680
13. Staff costs
The total staff costs and employee benefits for the repoiting period are analysed as follows..
2025
2024
Wages and salaries..
Employer national insurance costs
Employer contributions to pensh)n plans
117,536
4,954
3,526
126,016
87,567
9,888
2,627
100,082
The average head count of employees during the year was 212024.. 21. The avera9e number of
fulkb.me equivalent employees during the year is analysed as follows..
2025
2024
Numberofstatr.
The number of employees whose remuneration for the year fell within the following barmls, were..
2025
No.
2024
No.
£60,000 to £69,999
£80,00010 £89,999
Key Managernent Personnel:
Key management personnel indude all persons that have authority and responsibilty for
planning, directing and controlling the activities of the charty. The total cornpensation paid to key
management personnel for services provided to the charity was £%.41212024'. £80,374).
14. Trustee remuneration and expenses
No trustee received remunerats'on in the period lo 31 December 2025131 December 2024.. £NILI.
Included in the at￿ve is £2,530 of reimbursed expenses lo 4 trustees {31 December 2024.. £5,277
10 3 trustees). Trustee Indemnity Insurance was also In place during the period.
15. Debtors
202S
2024
Amounts ¢Jue from Costa Limited
P￿payMents and accrued income
Other debtors
455,010
22.521
18.512
257.701
15.669
51.230
25

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2025
496.043
324,600
16. Creditors: amounts falling due within one year
2025
2024
Project expenditure committed, not
paid
other creditors
108.087
199,084
8.187
116,273
11,190
210,253
17. Pensions and other p06t-retirement ben8flts
Defined ¢ontribulion plans,,
The amount recognised in income or expenditure as an expense in relation to defined contributy'on
plans was £3,52612024. £2,627).
18. Analysls of charltable funds
A11 Jan
2025
Income
ExpenditUTe
At 31 De¢
2025
General funds
1.476,726
2,039,540
1717 924
1798 342
A11 Jan
2024
At 31 Dec
2024
Income
Expenditure
General fvnds
1,380,312
1,712,360
1,615.946
1,476,726
At1 Jan
2025
Income
Expenditure
At 31 Dec
2025
Restricted Fund
7,551
50.000
7,551
50.000
At1 Jan
2024
Income
At 31 Dec
2024
Expenditure
Restricted Fund
200,000
192,449
7,551
Al the start of the year there was £7,551 of restricted funds remaining from the previous year.
from a donatson received from Costa Coffee. This was used for the second instalment of Project
56PC - Honduras {£7.5511 as the funds were reslricled to Central America. During the year, the
Foundation received £50,000 from Moto Foundats'on, restricted to UK based projects. This leaves
a balance of £50,000 of restricted funds to be Carried foNard to 2026.
19. Analysis of Tret assets between funds
Unreslri¢ted
Funds
RestriGled
Funds
Tolal Funds
2025
26

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Slatements
Year ended 31 December 2025
Current assets
1,914,616
50,000
1.964,616
Creditors less than 1 year
116,274
116,2741
Nel assets
1,798,342
50,000
1.848,342
Unrestri¢led
Funds
Restricted
Funds
Total Funds
2024
Current assets
1.686,980
7,551
1,694,531
Creditors less than 1 year
210,253
210,253
Net assets
1,476,726
7,551
1,484,277
20. Analysls of changes In net debt
At 1 Jan 2025
Cashftows
At31 Dec
2025
Cash at bank and in hand
1,369,930
98,643
1,468.573
21. Commitment8
The Costa Foundation had commitments of £594,749131 December 2024.. £563,644) at the year
end. These have not been provided for in the financial statements as they are subject to
conditions being met before payment.
22. Related partles
All unrestricted income received originated from Costa Limited and their employees, apart from
donations retsived via the Costs and Costs Foundation websites and third parties.
During the y8ar. Costa Foundation Trustee, Nick Orrin was named as directorslofficers on
Companies House of Costs Ltd, and they were members of the Costs Ltd Executive Team. In
addition. Costa Foundation Trustee Cecile Angrand and Hayley Finn were both members of the
Costa Ltd Executive Team.
23. Cash at bank and In hand- Flagstone deposit platforni
Cash at bank and in hand includes deposits placed via the Flagslor¢e plattomi. Flagstone operates as
an adminislralive deposit platform and does not itself hold charity funds. Instead, funds are placed on
deposit with several authortsed UK banks in the name of the Charity. Each deposit is held directly with
the underlying bank.
At the balance sheet date, deposits held via Ihe Flagstone ptatform were distributed as follows.
HSBC Bank plc- Fixed 3-month deposit, £85,000
Standard Chartered Bank- Fixed 3-month deposit. £85,000
27

CONFIDENTIAL
The Costa Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2025
Santander International plc- Fixed 3-month deposit.. £29.000
Shawbrook Bank Limited- 95-day noti￿ account.. £13,308.48
Aldermore Bank plc- Fixed 3-month deposit.. £65,000
Aldermore Bank pk- Fixed 3-month deposit.. £5,618.60
Birmingham Bank Limited- 125-day notice account.. £86,677.25
FCMB Bank IUKI Limited - Fixed 3-monlh deposit. £84,000
All institutions listed above are aulhorised UK banks
24. Bad debts wrltten off
Bad debts of £15,587 were written off during the year12024'. £nil}. These amounts are Included within
expenditure for the year. Debtors are written off when there is no reasonable expectation of recovery.
25. Rèversal of prior yoar accrual- cancelled project
An accrual of $102,3261£82,0401 recognised in the 2024 financial statements in respect of the
second inslalment of Project 140 was reversed during the year following the cancellation of the
project due to project managerrTrent issues. The first instalmelll of $127,9081£102,5501. paid on 20
December 2023, remains r8cognised as expenditure. Further Instal￿nts under the original
agreement have been cancelled. Funds unspent from the f]rst Instalment and previously allocated to
this project a￿ expected to be reallocated lo a new project in 2026.
In addition, an accrual of £10,561 recognised in the 2024 financial statements in respect of the
second instalment of Project 48E8 was reversed during the year. Of this amount, £6,123 was
subsequently paid to the same project partner in respect of a revised scope of work for the project.
The remaining balance of £4,438 1$ no longer considered lo represent committed funds and has
therefore been released.
28