# **COMPANY REGISTRATION NUMBER: 5935154 CHARITY REGISTRATION NUMBER: 1116744** 

## **Alliance Publishing Trust Company Limited by Guarantee Unaudited financial statements** 

**31 December 2022** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Financial statements** 

## **Year ended 31 December 2022** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the directors' report)|**1**|
|Independent examiner's report to the trustees|**9**|
|Statement of financial activities (including income and expenditure account)|**10**|
|Balance sheet|**11**|
|Statement of cash flows|**12**|
|Notes to the financial statements|**13**|





**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** 

## **Year ended 31 December 2022** 

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022. 

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities: 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 published in October 2019. 

## **Reference and administrative details** 

**Registered charity name** Alliance Publishing Trust **Charity registration number** 1116744 **Company registration number** 5935154 **Principal office and registered** 15 Prescott Place **office** London SW4 6BS 

## **The trustees** 

The trustees who served during the year and at the date of approval were as follows: 

Axelle Davezac Fozia Irfan (appointed 26 May 2022) Philippe Jannet (resigned 2 February 2022) Elizabeth McKeon Caroline McLaughlin (appointed 27 July 2022) Felix Oldenburg Stefan Schaefers Joel Toner Walter Veirs 

**- 1 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

**Principal staff** David Drewery (Executive Director) Charles Keidan (Executive Editor) **Bankers** Barclays Bank plc PO Box 32016 London NW1 2ZH **Company secretary** David Drewery **Independent examiner** M Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB **Solicitors** Bates Wells & Braithwaite London LLP 2-6 Cannon Street London EC4M 6YH 

**- 2 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ **Year ended 31 December 2022** 

## **Objectives and activities** 

Alliance Publishing Trust is a registered charity under the Charities Act. The objects of the charity are: 

To promote the efficiency and effectiveness of charities and the effective use of charitable resources for the public benefit by: 

- publishing journals, reports and other material relating to the administration and effectiveness of charities and the effective use of charitable resources; and 

- convening discussion and dialogue on these issues. 

## **Review of activities** 

Alliance Publishing Trust (APT) was set up as an independent organisation on 1 January 2007 with the primary responsibility of publishing _Alliance_ magazine, a quarterly magazine on philanthropy and social investment with a global subscriber base of approximately 15,167 organisations and individuals as at the end of 2022. In 2023 we aim to increase our subscriber base by 10% to 16,700. 

_Alliance_ magazine has been in existence for 26 years. From the beginning of 1998 until the end of July 2001, it was published by Charities Aid Foundation (CAF). From 2001 to 2007, it was published by Allavida. 

## **Purpose and aims** 

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work within the last 12 months. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes. 

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. Promoting the efficiency and effectiveness of charities is recognized as providing a public benefit by the Charity Commission. The material we publish is either distributed free of of charge or paid for through modest subscriptions, and is available globally to anyone who would like it. 

**- 3 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **Achievements and performance** 

APT's core publishing activities are to: 

- publish four issues of _Alliance_ magazine annually, in print and digital versions; 

- produce 48 issues of _Alliance Extra_ annually; 

- publish both paywalled & free-to-view articles and interviews on the _Alliance_ website; 

- publish daily free-to-view news, opinion and conference reports via our _Latest from Alliance_ platform; 

- publish four regular columns on ClimatePhilanthropy2030, Editor's comment, Funding Practice &Philanthropy confidential. 

All these activities were successfully carried out in 2022. The themes covered by the four issues of the magazine in 2022 were: 

- **March 2022** - _**Mental health philanthropy**_ 

- **June 2022** - _**Learning from failure**_ 

- **September 2022** - _**Decolonising philanthropy**_ 

- **December 2022** - _**Crises happen: get ready**_ 

At the end of 2022, Alliance had a subscriber base of 15,176. 26% of this figure consists of paid subscriptions, the rest being a mixture of copies for key funders and contributors and free digital copies for individuals and organizations in developing countries. In 2021, the subscriber base was 13,766, with 29% being paid subscriptions. 

In terms of readership, we finished the year with a total readership (print, digital and controlled circulation) of 31,895 - an increase of nearly 10% on 2021. 

Alongside the increase in paid subscriptions in 2022, we saw a large growth in our free subscription scheme, with free subscribers up nearly 15% on 2021 to 11,074. We are pleased to continue to offer this scheme to all those working in over 140 countries. While we are pleased with our free subscriber base for 2022, next year we aim to focus on increasing our paid circulation and hope to raise our overall circulation from 15,176 to 16,700 

Our 'What's new?' emails and their subscriber only counterparts were produced twice a week in 2022. This allowed us to disseminate more of our free content and gave us more opportunities to promote the value of our paid content. We now have over 10,500 people signed up to receive this free digital newsletter, which provides a strong base of potential subscribers. 

We continued to host regular events including ones focused on the special feature of each magazine. We feel these added to our presence and credibility in the field, the events now produce a good income stream for us and we have been using these events to engage with non-subscribers. Our events in 2022 were primarily digital in line with our global mission and had an average of 537 people registering per event across our annual programme of twelve events which were all successfully delivered. 

We continued to produce free content and disseminate it through our network and the Latest from Alliance blog has gone from strength to strength. We continue to offer news, opinion and conference reports on a daily basis. 

**- 4 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **Achievements and performance** _**(continued)**_ 

The website continues to regularly provide both magazine and exclusive online articles that are free to read by all. Our conference calendar continues to keep readers up to date with sector events and everyone can make the most of our archive of over 7,500 articles by browsing by content type, theme or region, allowing readers to get straight to the information that matters to them. 

We have also expanded our social media presence in 2022 with further increases in followers across three platforms. We share everything we do via these mediums and this dedicated approach has allowed us to reach new audiences. 

## **Financial review** 

At the end of its sixteenth year, APT is well established as an independent organization with relevant financial, human resources and operational processes in place. Our activities produced a net £239,465 surplus in 2022 (2021: £37,366) with our net assets at the end of the year amounting to £545,884 (2021: £306,419) with £298,676 (2021: £112,800) designated to future years and £244,015 (2021: £193,084) constituting our current level of free reserve at the end of the year. In 2023 we predict we will finish the year with a similar level of healthy reserve which is in line with our current reserve policy. We hope the reserve we will have remaining by the end of 2023 will continue to help with any funding shortages in the future. 

The trustees would like to express their gratitude to the following organisations, which fund APT: 

- Calouste Gulbenkian Foundation 

- Charles Stewart Mott Foundation 

- Conrad N Hilton Foundation 

- Fondation de France 

- King Baudouin Foundation 

- Oak Foundation 

- Open Society Foundations 

- Robert Bosch Stiftung 

- William and Flora Hewlett Foundation 

The long-term support of our funders, and that of our growing number of sponsor subscribers, is essential to APT's continued successful operation. 

APT was pleased to increase its staffing level of seven (5.9 FTE), this enabled us to carry out the activities outlined below and to strengthen our efforts to increase earned income from subscriptions, advertising and publishing. 

**- 5 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **Financial review** _**(continued)**_ 

## **Reserves policy** 

The Board of Trustees has examined the requirements for holding an appropriate level of unrestricted reserves in order to safeguard the day-to-day running of the charity and provide underlying financial stability to protect its long-term projects. APT aims to hold no less than 40% of our annual operating budget at all times and strives to hold as much as 50%. 

As at 31 December 2022, free reserves totalled £244,015, representing 54% of 2022 expenditure levels. 

## **Remuneration policy** 

The pay and remuneration of key management personnel, along with all other staff, is determined by the board of trustees at the point of recruitment based on the roles and responsibilities and an evaluation of the sector for comparable roles. Any increase in this remuneration is determined by the board of trustees at an annual meeting based on performance against the aims of the charity and their role within that. 

## **Risk statement** 

The Board of Trustees has examined the major risks to which APT is exposed and systems have been established to mitigate these risks. APT maintains an active risk register and business continuity plan. 

The largest risk facing APT is the discontinuing of core grant funding. To mitigate this risk, APT has since 2012 pursued a plan of increasing non-grant income to increase the sustainability of the organisation and limit the effect a funding withdrawal would have on our annual operations. It also maintains a sensible reserves policy (see above) which would provide the required time to seek alternative income sources should the situation arise. 

## **Asset cover for funds** 

The assets of the trust are sufficient to meet the trust's obligations on a fund by fund basis. 

## **Plans for future periods** 

We shall continue to focus on our principal areas of activity, ie publishing _Alliance_ magazine and free-toview online articles and interviews plus daily blog posts on our _Latest from Alliance_ blog site. Upcoming themes for the magazine include _'Transforming philanthropy'_ & _'New giving vehicles and tools.'_ We are looking to further build our online presence and to increase all forms of readership, both paid and free subscribers. We will continue to host monthly events. 

2023 will see the appointment of a part time Partnerships Manager to allow us to maintain our growing network of global partners. In addition we will engaging a sixth regional representatives in Central & Eastern Europe to help us grow our networks and understanding of philanthropy in this regions. 

We will also be conducting an external EDI audit of our contributor base and commissioning practices, building & launching a new website; expanding our editorial advisory board; and recruiting new trustees. 

**- 6 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **Structure, governance and management** 

The organisation is a charitable company limited by guarantee, incorporated on 14 September 2006 and registered as a charity on 10 November 2006. 

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its articles of association. 

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 15 to the accounts. Any business relationships between the trustees and Alliance Publishing Trust (APT) are set out in note 23. 

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2022 was eight (2021 - seven). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Appointment of trustees** 

As set out in the Articles of Association new trustees are appointed by resolution of the existing trustees. There should be no fewer than three trustees. 

## **Trustee induction and training** 

New trustees are fully briefed on their legal obligations under charity and company law and on the content of the Memorandum and Articles of Association. All new trustees are provided with a copy of the Charity Commission's _The Essential Trustee_ . 

## **Organisation** 

The Board of Trustees (minimum of three members) administers the charity. The board meets twice a year. An Executive Director is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Executive Director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and development activity. 

**- 7 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Trustees' annual report (incorporating the directors' report)** _**(continued)**_ 

## **Year ended 31 December 2022** 

**Structure, governance and management** _**(continued)**_ 

## **Trustees and Members of the Board** 

Axelle Davezac Fondation de France Fozia Irfan BBC Children in Need Elizabeth McKeon Ikea Foundation Caroline McLaughlin Felix Oldenburg Stefan Schaefers King Baudouin Foundation Joel Toner Non Profit Quarterly Walter Veirs Charles Stewart Mott Foundation 

## **Alliance Editorial Advisory Board** 

The _Alliance_ Editorial Advisory Board is a group of individuals from all around the world, each of whom has expertise and experience in a particular area of relevance to _Alliance_ . Their role is to advise the editor on all editorial matters, especially on the selection of special features and choice of guest editors. The Board of Trustees extend their thanks to the Editorial Advisory Board for their help and contributions over the year. 

## **Related parties** 

Alliance Publishing Trust is grateful to receive financial support from Calouste Gulbenkian Foundation, Charles Stewart Mott Foundation, Conrad N Hilton Foundation, Fondation de France, King Baudouin Foundation, Oak Foundation, Open Society Foundations, Robert Bosch Stiftung, William and Flora Hewlett Foundation 

In 2022, Charles Stewart Mott Foundation, Fondation de France and King Baudouin Foundation have members of staff on the Board of Trustees. 

## **Small company provisions** 

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006. 

13/2/2023 

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by: 

Walter Veirs Trustee 

**- 8 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Independent examiner's report to the trustees of Alliance Publishing Trust** 

## **Year ended 31 December 2022** 

I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 December 2022 which comprise the statement of financial activities (including income and expenditure account), balance sheet, statement of cash flows and the related notes. 

## **Responsibilities and basis of report** 

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’). 

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the financial statements do not accord with those records; or 

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or 

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

M Proctor FCA DChA Independent Examiner 

Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB 

**- 9 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Statement of financial activities (including income and expenditure account)** 

## **Year ended 31 December 2022** 

||||**2022**||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|325,565|109,018|434,583|200,962|
|Charitable activities|**6**|254,813|–|254,813|217,440|
|Investment income|**7**|348|–|348|141|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total income**||580,726|109,018|689,744|418,543|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Raising funds|**8**|59,882|–|59,882|25,601|
|Charitable activities|**9**|282,475|107,922|390,397|355,576|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total expenditure**||342,357|107,922|450,279|381,177|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Net income before transfer of funds**||238,369|1,096|239,465|37,366|
|Transfers between funds||(1,562)|1,562|–|–|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Net movement in funds**||236,807|2,658|239,465|37,366|
|**Reconciliation of funds**||||||
|Total funds brought forward||305,884|535|306,419|269,053|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total funds carried forward**||542,691|3,193|545,884|306,419|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 13 to 21 form part of these financial statements.** 

**- 10 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Balance sheet** 

## **31 December 2022** 

|||**2022**|||2021||
|---|---|---|---|---|---|---|
||**Note**|**£**|**£**|£||£|
|**Current assets**|||||||
|Debtors|**16**|64,429||130,188|||
|Cash at bank and in hand||592,241||252,185|||
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄৄ|||
|||656,670||382,373|||
|**Creditors: Amounts falling due within**|||||||
|**one year**|**17**|(110,786)||(75,954)|||
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄৄ|||
|**Net current assets**|||545,884|||306,419|
||||ৄৄৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄৄৄ|
|**Total assets less current liabilities**|||545,884|||306,419|
||||ৄৄৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄৄৄ|
|**Net assets**|||545,884|||306,419|
||||৶৶৶৶৶৶৶৶৶|||৶৶৶৶৶৶৶৶৶|
|**Funds of the charity**|||||||
|Restricted funds|||3,193|||535|
|Unrestricted funds|||542,691|||305,884|
||||ৄৄৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄৄৄ|
|**Total charity funds**|**20**||545,884|||306,419|
||||৶৶৶৶৶৶৶৶৶|||৶৶৶৶৶৶৶৶৶|



For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. 

These financial statements were approved by the board of trustees and authorised for issue on 13/2/2023........................, and are signed on behalf of the trustees by: 

Walter Veirs Trustee 

Company registration number: 5935154 

**The notes on pages 13 to 21 form part of these financial statements.** 

**- 11 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Statement of cash flows** 

## **Year ended 31 December 2022** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income|239,465|37,366|
|_Adjustments for:_|||
|Other interest receivable and similar income|(348)|(141)|
|_Changes in:_|||
|Trade and other debtors|65,759|(61,739)|
|Trade and other creditors|34,832|23,869|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|
|Cash generated from operations|339,708|(645)|
|Interest received|348|141|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄ|
|Net cash from/(used in) operating activities|340,056|(504)|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶|
|**Net increase/(decrease) in cash and cash equivalents**|340,056|(504)|
|**Cash and cash equivalents at beginning of year**|252,185|252,689|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Cash and cash equivalents at end of year**|592,241<br>৶৶৶৶৶৶৶৶৶|252,185<br>৶৶৶৶৶৶৶৶৶|



**The notes on pages 13 to 21 form part of these financial statements.** 

**- 12 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** 

## **Year ended 31 December 2022** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 15 Prescott Place, London, SW4 6BS. 

## **2. Statement of compliance** 

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain items at fair value. 

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £. 

## **Going concern** 

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 

## **Income** 

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants, whether 'capital' grants or 'revenue' grants, is recognised when there is evidence of entitlement to the funds, any performance conditions attached to the grants have been met, receipt is probable and its amount can be measured reliably and is not deferred. 

- interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

**- 13 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **3. Accounting policies** _**(continued)**_ 

## **Expenditure** _**(continued)**_ 

- expenditure on raising funds relates to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. 

- expenditure on charitable activities includes the costs of the magazine, publishing and restricted projects undertaken to further the purposes of the charity and their associated support costs. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

The charity is registered for VAT, and expenditure is shown net of VAT recovered. Any VAT which cannot be recovered is included within expenditure and attributed to the relevant cost. 

Staff costs are allocated to activities based on an estimate of staff time spent on each activity. Other overheads are allocated to the cost of the magazine as the amount which relates to other activities would be negligible. 

## **Operating leases** 

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the minimum lease term. 

## **Debtors and creditors receivable / payable within one year** 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from an impairment are recognised in expenditure. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recorded at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **Cash at bank** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less. 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service 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 refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

**- 14 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **4. Limited by guarantee** 

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. 

## **5. Donations and legacies** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|**Donations**||||
|Donations|627|–|627|
|**Grants**||||
|Charles Stewart Mott Foundation|60,140|–|60,140|
|King Baudouin Foundation|16,292|–|16,292|
|Adessium Foundation|–|–|–|
|Fondation de France|13,096|–|13,096|
|The William and Flora Hewlett Foundation|142,368|–|142,368|
|Calouste Gulbenkian|16,536|–|16,536|
|Conrad Hilton Foundation|–|36,722|36,722|
|Oak Foundation|59,472|42,896|102,368|
|Badr Jafar|–|29,400|29,400|
|Open Society Foundations|17,034|–|17,034|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||325,565|109,018|434,583|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|**Donations**||||
|Donations|479|–|479|
|**Grants**||||
|Charles Stewart Mott Foundation|35,761|–|35,761|
|King Baudouin Foundation|17,280|–|17,280|
|Adessium Foundation|4,265|–|4,265|
|Fondation de France|12,658|12,721|25,379|
|The William and Flora Hewlett Foundation|10,373|–|10,373|
|Calouste Gulbenkian|12,539|–|12,539|
|Conrad Hilton Foundation|–|36,550|36,550|
|Oak Foundation|58,336|–|58,336|
|Badr Jafar|–|–|–|
|Open Society Foundations|–|–|–|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||151,691|49,271|200,962|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|



**- 15 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **6. Charitable activities** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Subscriptions|39,797|39,797|38,286|38,286|
||Sponsors subscriptions|129,055|129,055|86,421|86,421|
||Advertising|59,478|59,478|76,267|76,267|
||Single copy sales|2,821|2,821|3,702|3,702|
||Event income|22,537|22,537|11,800|11,800|
||Membership|1,125|1,125|964|964|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|||254,813|254,813|217,440|217,440|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Bank interest receivable|348|348|141|141|
|||৶৶৶৶|৶৶৶৶|৶৶৶৶|৶৶৶৶|
|**8.**|**Raising funds**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Wages and salaries|59,882|59,882|25,601|25,601|
|||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|
|**9.**|**Expenditure on charitable activities by fund type**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Staff costs||156,910|79,286|236,196|
||Property costs||9,600|–|9,600|
||Other costs||111,770|28,636|140,406|
||Olga Alexeeva Memorial Prize||4,195|–|4,195|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||||282,475|107,922|390,397|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||Staff costs||183,576|36,550|220,126|
||Property costs||9,600|–|9,600|
||Other costs||105,429|14,421|119,850|
||Olga Alexeeva Memorial Prize||6,000|–|6,000|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||||304,605|50,971|355,576|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|



**- 16 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **10. Analysis of governance costs** 

|||**2022**|2021|
|---|---|---|---|
|||**£**|**£**|
||Independent examination|2,965|–|
||Accounts preparation|1,230|1,140|
||Audit|–|4,860|
|||ৄৄৄৄৄৄ|ৄৄৄৄৄৄ|
|||4,195|6,000|
|||৶৶৶৶৶৶|৶৶৶৶৶৶|
|**11.**|**Net income**|||
||Net income is stated after charging/(crediting):|||
|||**2022**|2021|
|||**£**|£|
||Operating lease rentals|9,600|9,600|
||Independent examiner's remuneration: Independent examination|3,995|–|
||Auditor remuneration: Overaccrual in prior year|200|–|
||Auditor remuneration|–|6,000|
|||৶৶৶৶৶৶|৶৶৶৶৶৶|
|**12.**|**Auditors remuneration**|||
|||**2022**|2021|
|||**£**|£|
||Fees payable for the audit of the financial statements|–|6,000|
|||৶৶৶৶|৶৶৶৶৶৶|
|**13.**|**Independent examination fees**|||
|||**2022**|2021|
|||**£**|£|
||Fees payable to the independent examiner for:|||
||Independent examination of the financial statements|3,995|–|
|||৶৶৶৶৶৶|৶৶৶৶|
|**14.**|**Staff costs**|||
||The total staff costs and employee benefits for the reporting period are analysed as follows:|||
|||**2022**|2021|
|||**£**|£|
||Wages and salaries|256,508|212,979|
||Social security costs|22,946|18,889|
||Employer contributions to pension plans|16,624|13,859|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|||296,078|245,727|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|



The total employee benefits including pension contributions of the key management personnel were £128,622 (2021: £128,004). 

The average head count of employees during the year was 7 (2021: 6). 

**- 17 -** 



## **Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **14. Staff costs** _**(continued)**_ 

The average number of full time equivalent employees during the year was as follows: 

||**2022**|**2021**|
|---|---|---|
||**No.**|**No.**|
|Raising funds|1.0|0.4|
|Magazine|4.9|4.6|
|Total|5.9|5.0|



No employee received employee benefits of more than £60,000 during the year (2021: Nil). 

## **15. Trustee remuneration and expenses** 

No trustees were paid or received any other benefits from employment within the charity in the year (2021: £Nil). No trustee received payment for professional or other services supplied to the charity (2021: £Nil). 

No trustee received payment for or reimbursement of travel or subsistence costs in the year (2021: £Nil). 

## **16. Debtors** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Trade debtors|60,559|31,668|
|Other debtors|3,870|98,520|
||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||64,429|130,188|
||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|



## **17. Creditors: Amounts falling due within one year** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Accruals and deferred income|101,479|71,083|
|Social security and other taxes|6,766|4,461|
|Other creditors|2,541|410|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|
||110,786|75,954|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|
|**Deferred income**|||
||**2022**|2021|
||**£**|£|
|At 1 January 2022|65,083|40,607|
|Amount released to income|(65,083)|(40,607)|
|Amount deferred in year|97,484|65,083|
||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|
|**At 31 December 2022**|97,484|65,083|
||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|



## **18. Deferred income** 

Deferred income relates to grant funding, subscription and advertising income received in respect of future periods. 

**- 18 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **19. Pensions and other post retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £16,624 (2021: £13,859). 

## **20. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||||||**At**|
||At 1 Jan 2022|Income|Expenditure|Transfers|**31 Dec 2022**|
||£|£|£|£|£|
|General funds|193,084|450,250|(302,757)|(96,562)|244,015|
|Strategic development|–|–|–|–|–|
|IT support|–|–|–|–|–|
|Anniversary activities|–|–|–|–|–|
|Robert Bosch Stiftung||||||
|Fund|52,800|–|(17,600)|–|35,200|
|Website development|25,000|–|–|–|25,000|
|Regional representatives|15,000|–|(2,000)|44,000|57,000|
|Travel|5,000|–|(5,000)|–|–|
|Staffing|5,000|–|(5,000)|–|–|
|Editorial support|10,000|–|(10,000)|–|–|
|EDI Audit|–|–|–|16,000|16,000|
|Partnership Manager|–|–|–|35,000|35,000|
|William & Flora Hewlett||||||
|Foundation|–|130,476|–|–|130,476|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||305,884|580,726|(342,357)|(1,562)|542,691|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||||At|
||At 1 Jan 2021|Income|Expenditure|Transfers|31 Dec 2021|
||£|£|£|£|£|
|General funds|150,218|369,272|(286,406)|(40,000)|193,084|
|Strategic development|10,000|–|(10,000)|–|–|
|IT support|1,200|–|(1,200)|–|–|
|Anniversary activities|15,000|–|(15,000)|–|–|
|Robert Bosch Stiftung||||||
|Fund|70,400|–|(17,600)|–|52,800|
|Website development|20,000|–|–|5,000|25,000|
|Regional representatives|–|–|–|15,000|15,000|
|Travel|–|–|–|5,000|5,000|
|Staffing|–|–|–|5,000|5,000|
|Editorial support|–|–|–|10,000|10,000|
|EDI Audit|–|–|–|–|–|
|Partnership Manager|–|–|–|–|–|
|William & Flora Hewlett||||||
|Foundation|–|–|–|–|–|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||266,818<br>৶৶৶৶৶৶৶৶৶|369,272<br>৶৶৶৶৶৶৶৶৶|(330,206)<br>৶৶৶৶৶৶৶৶৶|–<br>৶৶৶৶৶৶৶|305,884<br>৶৶৶৶৶৶৶৶৶|



**- 19 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **20. Analysis of charitable funds** _**(continued)**_ 

During the current year the trustees have spent £39,600 of the designated funds brought forward. They have also designated a further £44,000 towards the costs of regional representatives, £16,000 towards the cost of the EDI audit process, and £35,000 towards the cost of a Partnership Manager. A balance of £35,200 of funding from Robert Bosch Stiftung has been carried forward towards costs in 2022-24, £25,000 towards the cost of a new website, £57,000 towards the cost of regional representatives, £16,000 for EDI audit costs and £35,000 towards Partnership Manager costs. 

Funds received from the Hewlett Foundation in respect of core costs for financial years 2023 - 2022 have also been designated in the year. 

|**Restricted funds**|||||||
|---|---|---|---|---|---|---|
|||||||**At**|
||At|1 Jan 2022|Income|Expenditure|Transfers|**31 Dec 2022**|
|||£|£|£|£|£|
|Climate coverage fund||535|–|(2,097)|1,562|–|
|Operating support fund||–|–|–|–|–|
|External consultant|||||||
|support||–|–|–|–|–|
|Crescent Enterprises -|||||||
|Badr Jafar||–|29,400|(26,207)|–|3,193|
|Oak Foundation||–|42,896|(42,896)|–|–|
|Conrad Hilton Foundation||–|36,722|(36,722)|–|–|
|||ৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄ|ৄৄৄৄৄৄ|
|||535|109,018|(107,922)|1,562|3,193|
|||৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶|৶৶৶৶৶৶|
|||||||At|
||At|1 Jan 2021|Income|Expenditure|Transfers|31 Dec 2021|
|||£|£|£|£|£|
|Climate coverage fund||2,235|–|(1,700)|–|535|
|Operating support fund||–|36,550|(36,550)|–|–|
|External consultant|||||||
|support||–|12,721|(12,721)|–|–|
|Crescent Enterprises -|||||||
|Badr Jafar||–|–|–|–|–|
|Oak Foundation||–|–|–|–|–|
|Conrad Hilton Foundation||–|–|–|–|–|
|||ৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄ|
|||2,235|49,271|(50,971)|–|535|
|||৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶|



The charity received grants from Fondation de France to support the climate coverage project and for external consultant support. The balance of this funding was spent in the year. 

Grants were received from Conrad Hilton to contribute toward operating costs. 

Funds were received from Crescent Enterprises to contibute towards the costs of regional representatives. 

A discretionary grant was received from the Oak Foundation to contribute towards operating costs. 

**- 20 -** 



**Alliance Publishing Trust** 

## **Company Limited by Guarantee** 

## **Notes to the financial statements** _**(continued)**_ 

## **Year ended 31 December 2022** 

## **21. Analysis of net assets between funds** 

## **As at 31 December 2022** 

|||Unrestricted -|||||
|---|---|---|---|---|---|---|
|||General|Designated|Restricted|Total|funds|
|||£|£|£||£|
||Net current assets|244,015|298,676|3,193|545,884||
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶||
||**As at 31 December 2021**||||||
|||Unrestricted -|||||
|||General|Designated|Restricted|Total|funds|
|||£|£|£||£|
||Net current assets|193,084|112,800|535|306,419||
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶৶৶||
|**22.**|**Analysis of changes in net debt**||||||
||||||**At**||
||||At 1 Jan 2022|Cash flows|**31 Dec**|**2022**|
||||£|£||**£**|
||Cash at bank and in hand||252,185|340,056|592,241||
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶||



## **23. Related parties** 

Aggregate donations from related parties were £89,528 (2021: £78,420). 

Walter Veirs is Senior Program Officer at Charles Stewart Mott Foundation, and the charity received a grant from the Foundation totalling £60,140 (2021: £35,761). 

Stefan Schaefers is Head of European Affairs at King Baudouin Foundation and the charity received a grant of £16,292 from the Foundation during the year (2021: £17,280). 

Axelle Davezac is Director General at Fondation de France and the charity received a grant of £13,096 from the Foundation during the year (2021: £25,379). 

Membership income of £55 (2021: £Nil) was also received from one trustee. 

**- 21 -**