Charity Regiitration No. 1153738 Company Registered No. 08636434 HMRC No. EW40609 THE ALLEN & OVERY FOUNDATION (* comp¥Dy limited by guarantee) Annu81 Report and Flnan¢lal Statements For the year ended 30 Aprll 2023 )(l?K￿e¢ J21IW2023 cO￿ANIEs HOUSE JNI *19 COV,PA141G> ,_FLQT 12 DCC ZO?3 RECCPTIG.::. Cf.SX THE ALLEN & OVERY FOUNDATION (A COiIIPANY LIMITED BY GUARANTEE) CHARJTY REGISTRATION NO. 1153738 COMPANY REGISTRAT AON NO. 08636434 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 CONTENTS Page Rcfer¢nr¢ and AdminislTaiion Infonnaiion............................................................................................ Trustees, Report.................................................................. .. .................................. ........ .... Independeni audiiors. report io the Members of The Allen & Overy Foundation.................................. Siaiemeni of Financial Activiiies {Including the Income and Expendimre AcC￿ni} .. . . Siatemeni of Financial Posilion...-..-...-..-.-...-.-..-...-..-...-.-.-..-.. 13 Siaiemeni of Cash Flows ....................................-..-..-.-...-.-........-....-......-..-........................................... 14 Noies io ihe Financial Sialemenls.................................................................................-...-................... 15 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 REFERENCE AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 30 APRIL 2023 Trusltts H van der Baan A H Clist B Hannigan C S Jarrett M E Johnsron M J Mansell P J Mansfield JMPage F J Ranero Registered Offite One Bishops Square London EI 6AD United Kingdom Bankers Naiional Westminsier Bank plc 250 Bishopsgate London EC2M 4AA Uniied Kingdom Solicitors Allen & Overy LLP One Bishops Square London EI 6AD United Kingdom IndepeAdent Auditors Pricewaterhousecoopus LLP Chartered A¢¢ouniants and Sthrutory Auditots l Embanknient Place London WC2N 611H THE ALLEN & OVERY FOUNDATION (A CO￿ANy LIMITED BY CUARANTEE) CHAIUTY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 2023 The irusiees of The Allen & Overy Foundation (the FoundatiOlI). who are also direclors for ihe purposes of the Cornpanies Aci 2006 (the Companies Act). preseni Iheir report tog¢ther with ihe audited financial staiunenis for ihe year ended 30 April 2023. The rrnstees have adopied ihe provisions of Ihe Companies A¢u the Charities Aci 2011 {Ihe Charities Att) and the Siatement of R¢Gommend¢d Practice.. AccounlitL8 and R¢portin8 by Chariries [ch￿ltieS SORP). Reference and admiThistra¢ive iThffjrmatio The Foundation is registtt¢d wilh ihe chari11￿ Commission Ichariry Number. 1153738)" is a company limiied by guarontee regisiered in England (Company Regisiraiion Nuinber.. 086364341- and is also recognised as a chariiy by HM Revenue and Customs (HMRC Number.. EW40609). The inforniaiion with respect to officers And professional advisers 5e¢ oul on page I fomis part of this reF4)rt. Structure? governaThee and management The Foundation is a ¢haritable ¢omp3ny limiied by guaranlee. The trust¢es of the Foundation who served throughout ih¢ financial year and up to ¢he date of approv of Ihe financial $tar¢menrs. unless othenvise #aied. were- H van der Ba•n A H Clisi B Hannigan C S Jarrem M E Johnston M J Mansell P J Lmansfield JMPag¢ F J Ran¢ro A R Wedderburn-Day (Resigned 31 M4r¢h 2023) {Ap￿Inted I September 2023) The Foundation and the appoinlmeni and retir￿en1 of misiees Ar¢ governed by its Memorandum and Artieles of AssociatLOlI (as amended). New trusiees are providal wilh guida1￿¢ and trdining in relation ro.. Ihe content of Ih¢ Memoranduin and Articles of A550ciation. sub4ommiiiee tffms of reference, decision-moking pro¢esses, the obje¢(ives, policies and recent financial performance of ihe Foundaiion. All new irnstees are given the opportunity io mttt key persortnel and other t￿$[￿$ to di5CUSS the aciivities of Ihe Foundarion. Trustees 3r¢ pTowided wilh approwiare exiernal iraining and update5 where ihis will facilitare the undertaking of their role. THE ALLEN & OVERY FOUNDATION (A COl￿PANy LIMITED BY CUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 TRUSTEES, REPORT FOR THE YEAR ENDED 30 APIUL 2023 (CONTINUEDI Rlsk statement The in￿leeS ackrtowltdg¢ their rtsponsibility in relaiion io risk managrni¢nl and in acwrdance with the Foundation's risk managemeni policy. they seek io idenlify polential risks thal ihe Foundaiion may encounrer in the delivery of irs charitable aims. including when grnnt.moking, fundraising or undertaking new iniiiativ&s. The Irustees identify risks by.- (i) looking ai ihe Foundation's objeciives, mission and strhtegy; and (li) considering other factors such as.. chan8¢5 io legislation; the Foundation's repulaiion.. previous problems encouni¢red by ihe Foundaiion- and ihe risk managemeni siratesies of compardblc charities. All ri5k5 ideniified by ihe irnsttts ar¢ ￿Colded on a risk regisier which is reviewed annually. l(ems which are considered to ￿ higheT risk are subject 10 constani review. During the finartcial year. the In￿lee5 have idenrified overseas charilies. financial 5tabiliiyof recipienis. and reputhtional risks assttiated with r￿1p•￿ts as risks which should ￿ subject io consrant review. Such risks are mitigated by financial and repuiational due diligaKe ¢onducl¢d on all recipients and mainiaining regular cominuni¢aiion wlth recipients. FiThancig1 risk man*8¢Jntnt The financial risks are borne and managgj by Allen & Overy LLP and are disclosed in ihe publicly available consolidaied financial staiements of Allen & Overy LLP. Key performanee indi¢Alors Given the sirai8htfonvard naDAre of th¢ business and ils wincipal activilies. lh¢ tnL5tee5 4r¢ of the opinion ihai analysis using key Ferforniance indicaiors (KPIS) is not ner¢5sary for an understanding of Ihe developmeni. perfomAnee OT posilion of ¢he Foundaiion. ObJ¢ctiv¢s •tsd aclivilie5 The Foundation was ¢4ablished wilh ihe aim of woviding donaiions for ihe benefii of any one or rnor¢ qualifying charbiies. In the trLLsiees' opinion, all donations have been made to organisations for purposes which a￿ exclusively charitable and in line wilh Foundation's grant making poli¢y ouilined on page 4. Funds are generaced ihrough donaiions from Allen & Overy panners.l Key acliviii¢s undtr(ak¢n dur¥ng the year are siaied within the achievements and peifomian¢e $￿tiOn of this report along wilh the short-ierni and long-iemi pjans of the Foundaiion. The Foundaiion has ihree grants Sub￿mMItteeS (Global, London at)d Belfast) and ￿¢h h&$ a particular fo¢us on A spe¢ifi¢ geographic location, allowing support io be provided to local communi(ies, and lis own reporting requiremenis for its granlees. Thesearesummarised and reF￿rted annually to ihe iwsiee5. The In￿1¢¢5 and su￿0MMittee members dderniine based on the grantee organisftlions achieving the objectives a8rttd in ihe initial gAnt agrfemen15. Measules include the nutnber of beMefLcharies ihc grJnlee organisaiion has hel￿d. Ihe imparl of the work ￿Ing funded and the us¢ of funds. In $￿'sTr￿￿e¢S R¢wt¥tyJaL*ilY tothe FithahKNI Overyp¥w*rs' ￿ ￿￿ed10 refey to rnembu5 or All¢n& LLP's affil*s THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUAIIANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 TRUSTEES, REPORT FOR THE YEAR ENDED 30 APIUL 20231CONfiiyuED} Objectives and activitie5 (continued) Th¢ Foundation does nol make use of social invesimeni and does not have general volunteers. Public benefit reporting The trusiees have beerl advised of the guidance conlaincd in thecharity Commission's general guidance on public ben¢fit wheTh reviewing the Foundation's aims and objeciivos and in plannhng its futu activities. In ￿rtIcUlar. Ihe irustees ¢on$ider how pl8nned aciiviiiLX will coniribuie io Ihe aims and obJ￿IlY¢S it has set. GraD¢ making policy The Foundaiion's gTam making w•li¢y is SM to enable ihe FoUnd￿10n to achieve its aims. The Foundalion's policy is io support charitable causes associaied with providing relicf in response to national or iniematiortal disasters. access to j￿17¢t. acces5 to education and employrnenr; and in exccplional cases. providing relief io those in need generally. as well as other causes whi¢h are assochated with the pro-bono programm¢ of th¢ Allen & Overy paTtneTS and S￿ff. Applicaiions for nding are ¢onsideJed at sU￿0￿mi￿Ce meetings. Achievements performanc¢ The Foundation r¢¢¢ived £2.303,484 (2022.. £1.525,114) of donations in the financial year and made gifis to charilies of £1,868.410 (2022-. £1.773,403) during ihe financial year. The most signific&nl grantce ￿ring th¢ finJncial year was Sireet Child, a charity ihat works to keep children safe. in school and learning. The Foundaiion donaied £554.748 (2022.. £373.666l as part of lis partnership wilh the charity. which ended July 2023. Allen & Overy LLP and the Foundaiion are WOTking to break cycles of ￿vtyty Ihrough iheirpannershhp with Street Child. Through thhs partnership, Allen & Overy LLP and ihe Foundaiion hav¢ supwrta th¢ cnrolmeni of 1.500 girls {ID¢luding 244 teenage moihers) inio secondary school. provided support with school uniforms and learning materials. as ivell as baby fom)tsla so families can provide childc8re_ The girls, families, I,(KM) in toral, have received bllsiness granls and iraining so they can afford ihe ongoing cosis of iheir education. In the first year of the PTogramme. 97.8•/• were able to sei aside savings at largel levels. meaning all 750 girls supp)rted were able io ￿%￿r01 for ihe nexl arademic year despile no longa r¢ttiving comprehensive suppjrt. A pjrtion ofihe money raised has funded t¢3chins and learning maierials for 40 rural primary Schools, as wcll a5 training for 160 reachers io improve foundaiional literd¢y and numeracy. This iTainin£ benefitted 2.654 children in the Iirsl year. wilh over 84/0 passing the naiional primary school ¢xam. As Ihe fundraising iarget for the pannership wilh Sw¢ei Child was surpassed. support was also provided to 2,000 rural families wilh income gffieraiing iniliaiive5 in rh¢ form of seed loans. These are paid back %VLth inieresi, and the profils are used to fund ieacher5' salaries and other as￿laled costs uniil a school can be approved for govemmeni funding. THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHAIUTY REGISTRATION NO. IIS3738 COMPANY REGISTRATION NO. 08636434 TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 1023 (CONTINUED) Achlevemtnts and perf•nn*ice (rontinued) The Ftsund*ion's allitalion lo diw*r Telief inGrewd this yrlr. During lh¢ year the Foundaiion provided disasier relief in: Afghanistsn. Pakislan. syri￿r￿Tk¢Y, Malawilmozambique. Sudan and oiher ¢i)unlries in Africa. Tht Global granis su1￿Commi11Ce also funded fiv¢ intematlonal d¢v¢lopment organisat101I5 working in countri¢s Africa and ihe Middle Easi ihTOU8h annual grants Tound (If fi)ndin8. Th¢ Lon(k)n grants sulbcommillee funded 52 charities during ihe year acros5 England. £132.167 was direcled iowards 16 chariiies on ihe theme of a¢(tss io educaiion and employrne￿ and £120,000 iowards 16 ¢haririe5 on th¢ them¢ of acces5 10 jUSii¢e. £33.000 repTesenied Seven granis lo chariiies io support Allen & Overy employees who have made a significant contribution. Four chariliu w¢r¢ awarded an Inv¢s1 for Impxi award, a mylii-yeargrani of £25,C(Kl over ihree years. Three curreni Invest for Impaci award gran(ees were awarded an uplift of an addiiional £2,500 on top of iheir grani of £25,¢￿ to rel]ec( the cost of living crisis. During the financial yeAr. thc London granis sub-committtt also esiablished an ernugency relief allocation io support ehariii¢s in response to reques15 arising From the Covid-19 pandemic and ihe cosi of Ihvhng crisis. Two charities tKn¢fJt¢d from grants amounthng 10 £35,(K)O including a granl 10 the London Cornm￿1ty Foundaiion"5 C051 of Living campaign. The Belfasi grants Su1￿0MMIttee fundtd 10 thariiies during ihe year. £40.233 was direeied towards 7 ¢harities on ihe theme of acces5 10 educaiion, £12,328 represented 2 charilies on Ihe theme of access to employment, and I ch4rily SUPPOrtinE access to jUSfice iY&s awarded £3,000. orthe 10 charilies funded. 2 were awar(kd mulii-year grnnts which ioialled £57.984 over 3 years. Finanfial re￿W Ind reserves For ihe financial y¢ar ¢nded 30 April 2023. Ihe Foundation has unresirici¢d reserves tothlling £l,(X)6,052 (2022.. £566,083). The policy ol Ihe trustees is io maintain furKls thai are aYailabl¢ for commiiied and em¢rg¢ncy grants. Th¢ unrestri￿Cd reserY¢s will be used to enabl¢ fund5 to be available for Ihe Foundation'5 general purposes. emergency grdnts and othei causes. The roial balance of grani commithienis ai 30 April 2023 was £855,￿ (2022.. £575.Cth) payable in fufure years Sirictly subjcct to cenain condiiions being by the beneficiary. All of ihe beneficiaries have teen infornied. InwEslment ￿lIcY Whilst the In￿(eeS have a broad poiver io invesi ihe Foundation's funds. Ihe majority of funds received are dispersed by way of granis during rhe r￿lod of receipi. The N)licy of ihe irnstees is to invesi in high inieresi deposit accounis. The trustees keep ihe invewmeni w)licy under uJntiDual review. Going concern The trustees have a Teasonable expeciaiion that th¢ Foundation h&s adequate financial resources io meel lis owatiC*nal need5 foT a F*ncrfl of ai least 12 monih5 from ihe dale of approval of the financial statanenis and therefor¢ the financial siaiements have b¢¢n pwe41 on the going conc￿￿ basis. THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARtTY REGISTRATION NO. I IS3738 COMPANY REGISTRATION NO. 08636434 TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) T*x4tion st*tus The Foundaiion is a registered charity, and as such is entiiled to ¢enain tèx exempiions on income and profiis from invesimenis. and s￿rp]useS on any trading aci]vLti￿ carried (In in furtherance of ihe Foundation's primary objectives. if these profits and surpluses are applied solely for chariiable pU[￿se$. The Foundaiion is noi registered for VAT and accordingly. all its expenditure is recorded in¢lusive of any VAT incurred. Plan$ for th¢ future L4St year the Foundaiion embar*ed ¥pon a review of its 8Tani making pro¢es$es with an external consuliani. funded by Allen & Overy LLP. This has involved interYi¢w5 wilh stakeholders. desk-based research as well as analysis of the Foundaiictrn's repmyiing dath from the lasi five years. The researth has found ihai 455,509 people have been directly sUPlX)rted by ihe Foundati￿'S funding in rhe last five years- in London, across the UK Jnd through global grani& 116 organi5aiions have been supw)rt¢d. wi¢h iwo in ihTee sUP￿rted more ihan once o¥￿ the lasi five years. 255 NGOS or organisaiion5 have been sup&￿ed ihrough legal advi¢e. and 22 local or issue4>ased law ccntres have been supported in ihe U As a Tesuli of funding by the Foundaiion, 45•/• of grants improved ¢ap¥¢ity and ¢apabilify in the recipi¢ni ¢hariiies. and 36Yo employed more staff or volunteers. Our partner chariii¢s w¢re able to leverage over £2 million of addilional funding which was cru¢ial given 54Yo of these are small and medium charities. The review noied thai. of ihe accw to juslice progTamme supponed law centres. 3 in 4 were able to feed inio parliamentary reviews or Greert PapeJ5. new research or were able io lobby for wider refom) as a Tesult of support from ihe Found81ion. Th¢ a¢cess io education and employmeni funding enabled l 0,645 hours of educaiion suP￿rt for young people. 65Vo of sNdenis supp)rted, inCre￿d ￿￿¢al10nal aitainment and confidence in the fU￿re. As a result of this review. Ihe Foundation In￿d$ to agree a new approach fo moniioring and ¢valuaiion and review its Slraiegy for disaster relief giving. Each of ihe sub-commilleu will review IheiT funding stTalegy bas¢d on lh¢ ih¢ory of change ¢Teaied as pan of ihe siraiegic review. Qualifyifftg tbird party indemnity provi5iONS The uliimate parent. Allen & Overy LLP, ha5 eniered inio qualifying third party indemniry aTrnngements for Ihe benefii of all of the irusiee directo￿ in a fonn and scope whi¢h comply with Ehe requirements of ihe Companies Act. These arrangements weff in place during ihe financial year and they are in place as at the dale of approval of the financial Statem￿$. Exemplions disclosure The financial Sialements have tten pr¢pared in accordance with ihe SFrtial provisions of section 414B of the Companies Act relating to small companies. Th¢ tru51ecs have taken the exemption under this regime not io disclose the strniegic report. THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATIO]Y NO. 1153738 COMPANY REGISTRATION NO. 08636434 TRUSTEES. REPORT FOR THE YEAR ENDED JO APRIL 2023 (CONTINUED) Funds held as eusiodian tr￿tee on behaifofotbers The￿ are no funds held as cusiodian Iru5teeon behalf of ￿hers. S¢atement oftru3tees' r¢sponsibiliti¢s in respect fjf the finao¢AAI sl#lements The tru51c¢s (who are also directors of ihe Foundation for the purposes of wmpany law) are responsible for preparing lh¢ Annual Repoll and Financial Staiemenis in accordance wilh applicable law and regulation. Company law requires the trustees io prtpare financial siaiements for each financial year. Under ihat law the tru$tee5 have prepared the financial siatemenLS in a￿rdance with the Companies Aci and Uniied Kingdom Generally Accewed Acrouniiog Pracrice (UK CAAP) (Unired Kingdom A￿Oun[1ng Siandards comprising FRS IlJ2 ' The Financial Reporling Siondgrd opplicoble in ilie UK undRepiiblic oflreland, (FRS 1021, and applicable law). Under company law the In￿let5 musi noi apwove ihe financial staiemenis unless thty are Salisfi¢d thal they give a tnJe and fair view of the stat¢ of the affai￿ of ihe Foundaiion and of ihe incoming resources and applicaiion of resources. including the income and expendiwre of the Foundation for ihat pwityj. In pr¢p8ring the financial slaiem¢Ats. lh¢ misiees are Tequired to.. select suiiable accounting poli¢ies and then apply them consis*ntly? prepare the fiftaneial statements on the 8oin8concern basi$ unless li is inappropriate io presume that the Foundation will coniinue in bu$ines5- obseTYe the M￿hod$ and principles in ihe Charilies SORP: and make judgements &rtd esiimaies thai are reasonable and prudeni; The Irustees are responsible for ketping adequaie accounti#g records that ar¢ suffjcienl to show and explain the Foundation's Iransa¢iions and disclose wilh reasonable accuracy ai any lime the financial position of the Foundaiion and enable ihem io ensure thai ¢he financial 51atemenls comply wilh the Companies A¢1. They are also resp)nsible for safeguardirtg ihe assths of ihe Fowldation and hence for taking reasonable st¢P5 for ihe preveniion and deieciion of fraud and (xher irregulariiies. In accordance wilh section 418 of ihe Companies Aci. Ihe inL51ee5' reports shall in¢lude a Stslement. in Ihe case ofeach In￿le¢ in offi¢e at ihe dale the irusiees. Tep)n 15 approved. ihai.. so far as the iTUStee is aiyare, there is no relevani audil infonnaiion of which the Foundalion's audiiors are unaware. and they have laken all che steps ihai they ou8hi to have taken as a tn￿le¢ in order io make themselves aware of any relevant audii InfOnn￿•0n and io esiablish thai ihe Foundation's auditOTS are aware of thai information. THE ALLEN & OVERY FOUNDATIOLY (A COMPANY LIMITED BY GUARANTEE) CHAR]TY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 TRUSTEES. REPORT FOR THE YEAR ENDED 30 APRIL 2023 (coNfiNUED) Imdt￿ndenf •udilor5 The independeni audilixs. PTicewaierhouseCw LLP, have indicaied th¢ir willingness 10 be reapE￿Inted. Approva] Approved by lh¢ trustc¢s on 27 November 2023 and signed on theiT behalf by Frnnz Ranero. Fr*nz Ranero Trnsiee Director Date: 29 November 2023 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE ALLEN & OVERY FOUNDATION Report on the audit of the financial statements Opinion IA ouropinioth. The Alten & Ov¢ry Fo¥nd￿n.$ fIrw￿l￿1 **¢wts{th-fin¥n¢i*l give a ￿eaThd (Jir i'ie%Yofthe y3t¢of the ¢h¥tk*lE compan)'$affair5 O al JO April 202) and ofis in¢omiThR rwur¢es •ThJ applic*th of we￿￿￿¢S. 1¢$ InWn¢and¢x￿WllthTC. oThl flow& for ih¢ y¢ar Ihvs ¢TrJ¢d; havo pwy preprvj in a¢¢ordanco Mih VniNxl K¢ngth)m Gu&ally A¢¢eMthl Ac(%)￿lIng PThciice (Unitol Kingdom A¢wuniin8 SIan(k￿$, Iwlwjing FRS 102"The FTrwKial Rewnin8 Stsnd*rd •pplicabJc ith tk UK Republi¢ of Ir¢land" aThJ ar•lir2blc lawl: aTwJ • h)¥¢ pwmrtyj in *¢fjftlance with the rcquircme*ts of th¢Cory8Th￿S Ati 2(th. Il'e hai'e •udi*d lh¢ financial swcmeThi& included withuj ik Arnwjl R¢Fx)rt ¥ThJ FI￿#n(la1 Si*cmrnis l{￿-Annual Rep)n"l. which ¢ompris¢'. lh¢ Siaitwni of FiowKial Posi1￿Tr ￿ ai 30 April 2023: th¢ 54t¢m￿l uf F￿rIal Acii%'iiKs Iinclwltng th¢ Irt¢o*K expthdituw a¢¢o¥nil. Iht Sthremtht of Cash Flow$ for the y¢ar •*1ed the to the financial SI￿y￿£¥It$. uthbch itt¢lvd¢ D des¢rioio# of si8nificani •c¢ov*iin8 ￿lIC Basis for opinion We condu¢¢cd our audit in •¢¢othnLr InlemJtMpThJl SiJndirds w Audilir% IUK>I'"ISAs IUKI"l applicahlc law. thr wtsponsibiliib¢s ¥rtd¢r Ishs IUKI are fun￿rdeStribtd in the Audi￿*$. Itspoibsibilillts forihe •¥dii of11￿ finincial s￿lI0n ofour [¢￿rt. W¢ beli¢vt th￿11 e¥idtThte wthavtobthiKd i59jffici￿t ar￿ provide a b&%is forow opiniorL Indepcndence Ive rcmaincd indepcThdrni ofthe charithblecompany iti xcoYdatKt with thctthKal rquiremeThLS thaI3rere￿v￿l ￿Our 3wJil of Ilit Slaicmcnis in the Uk. FRC"'s &hiral S￿￿ard and hav¢ owoth¢rahical responsibilities in awrd*Ke wilh thcsc rLYwir¢m¢nts. Conclusions relatlllE lo going coD¢eT Based ihe My)wk wc hayc pwF0nn￿. have ￿)1 kny tTh*iCTial unccrt3iniics tL4atirbB to eveAts or ¢ortdiliOilS thai. indivKlually QTcolleciivety, may signbfuit doll￿ dwiEablE compJm.' sabiliE)' to goiJÈ coocem ptrM)d of 41 Iwelve months fffjffl on whi¢h ik fiAaÈKial stalemts aTe auLknrisLyJ for issue. ltt •udilirt8 the firbantial xaicments. wt k*vt ton¢ludtdth* th¢ ust of tht eo*rycMctrn b￿"$￿( *c¢iAJrti*g in ihe pfti)ardtMTrTr of th¢ finan¢ial siw¢m¢nts is gppwii*t However. btcause Jll fviure cvcntsorc(fftliiws¢a• this concknion is IKII a 8wrJTh￿as ￿ Ihe ¢harii&>le coinpJnJ s t¥lity tp WDiinu¢ a5 agoing uTrc¢rn. r¢5FKin$ikn"liiits and the r¢¥thiS1￿1171IeS oftkn with r¢5pth w going ar¢ d￿1b￿l irt the th¥ni sttiions ofthi5 report. Reporling on other inforniation Tb¢ cthr infovmJri¢)n L%)mrKiscs all of theinfonTr•tion ID th¢ Ann¥al Re￿rt ihan ihc financial 5w¢m¢n15 ¥nd oui au(liioTS" rt thtrtt)n. Tht inL￿te5 awe rLwThsQ)le forthc otherinfonnatth. Ouropinum on th2 financtJ7 ststementsdoL% nni covtt the oiher infonn*ioN a￿1, accordin8ly. wedo Th)1 ¢xpress anaudii (pinw)n or. exw to thcatLYLi oth¢n¥is¢¢xpli¢iily5ta￿j io tCPDrt. any form 0f￿rance th¢reon. Ih corth¢ciion with ourawjiioftht financi￿ siaiernents. our rewnsibjlity is th¢ other informliion and, in doithg so, con51d¢r the oth¥f infomwion is m*aially iThconsi#eni the fiM*ei*L swem th¢ dircctoxs ofthe d4rioble cumot SUSPC¢tcd nces of wrKompliarK¢ wilh laws aThJ wlalions arml frdwi: ]d¢n11￿.￿s ieuirbg unusual journal thrries. in rAnic￿lat thwiournal ¢￿Ie$ N)s￿lI with an ynu5ual EvaluJtiTrs arKI. 4vhu¢ •pprnpri•*. ¢hakngthg aml )￿¢￿t$ m*by ith dcttmiiAimK sisrbifKaTri accouAting cgtunat Th¢re are inh¢Ycni IbmiWK)ns ith •wJir rrfrxcdures descri￿ aiKiv¢. We art less likely 10 b￿0￿c¥wartOr1￿￿anC￿s of rK)Tr. mpliancc with lawsand re8ulaiitsns thit are Th)i¢los¢ly r¢l*ied ￿ tYL*JLS and trHnFxiions I¢ll￿1¢d ID r￿Uncl1] ￿t¢￿tht5. Also. th¢ risk of Mt detL￿1Th8 a m•¢nJl mwatyneni due w frawl 15 h￿hcr than thc riskof [￿t deiffji•8 onertsulting from em>T. ￿ frJud fflay involvedcliberdt¢wn¢calm¢DI by. fof example, forg￿ or irbtcniional miswrc5¢ntaiwns or thmgh ttsllusion. A funhcrdescrioion ofour rtSF*)nsibiliiie5 for ihE a￿111 ofthe finaficial y*ierrtty)ts is b)o*d on FRC'$ ￿lbsite w¥w.fic.O￿.VklaudI￿tsrcwbl111lt> This fonn5 w ofour ￿dItors. W. Use of ihis rep)rt This rwn. including th¢opiTrions. I￿￿L￿n w¢p•rcd for and ottly for rhe company's mcmbcrs asa in accoTdancr with Chapi¢r3 of Part 16 of theComptsThies Act 2(Mkn fof Th) other puvpjse. We do giving thes¢opinb)rts. aecepior &ssume Tesp)n$ibiliry for any oth¢r purFQ5¢ or ￿ ahy otherpeTson w wlKffl thi5 w is sk)wThor Twknse hands li mty tornesave *thcre Lxpressly agr¥¢d by owr pnor ¢￿S￿l in ￿lli￿￿- io THE ALLEN & OVERY FOUNDATION IA COMPANY LJMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY RIGISTRATIOIY NO. 08636434 OTHER REQUIRED REPORTING CompaJ)ics Art 2006 elreplion reporting Und¥ the Compante5 A¢1 2W6 art EO you if, in ouropirtioft". w¢ have obiaincd 211 the inforrnaibjn aTrJ eXplan￿l0￿$ w¢ requi￿ for our audit: or adeqwiE ¥¢ouniin8 r¢¢ords have rK>i be￿ keErt or raums foro¥raudii have noibeen rXeIv￿ from braiche5 rK*l vi*ied by us: or ¢¢rf3in discl￿￿$0[￿￿$hEeS. speeifieil by law ate ts)I mide.. or • the fJThancial Matanents are aBrrThThEM thcxcountinB ￿rQ￿Sand We hove no excqTrt10Th5 10 rtpjrt trisini fTDm this Wrt$￿11￿y. Erttitlerncnt to cxempti011S Unijer the Companits Aa 201hS we I￿ wuir*l ro r¢rrf to you If. in ¢￿rOP1T￿mm. the ¢nts*es were noi ¢ntitl¢d w.. ttke 4Llvantageof small ¢ompthiesex¢mpiion ffom a Str4it8i¢ RtWL Wehtitrn ex¢¢tATrMs w iwJn*risin8 from this res￿￿511>1111Y. Bansi Shah {SerMor Si)i¥iory Auditor} for and on behalf OfPthcewai¢rtb)￿pcr5 LLP Chartcnxi Acco￿nIa￿lS arKI Sraiuts)ry Audiio Lofvjtsn JD November 2023 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRJL 2023 Total unrestricted futtds Total unrestricied funds 2022 2023 otr IDcome Donaiions and legacies Inierest income 2,303,484 4,895 .525,114 640 Tol*l 2 308 379 525 754 Expenditure Ch)rii•bl¢ aciiwities 1.868.410 1.773,403 Total 1.868.410 1.773,403 Nel incomel(expens¢)•nd net movemtni IA funds for the year 439,969 {247,649) Unrestricted fund balances brwEh¢ forward 81IMay 566,083 813,732 Unr¢s¢Tl¢ted balances ¢2rried forward at 30 April 1.006.052 566,083 The notcs on page5 15 to 26 are an irtie8Tal part of ihe financial 5￿temen1$. The Foundalion has no recognised gains and losses Ixher than the Tesulis above and therefore no 5epaTate siatement of ioial ¢hanges in eqyily is pTesen*d. All ificome and expendiDJre is derived from coniinuing activities and is ctsnsidered to relate io unrestricied funth. The net movement in funds of the Foundation for ihe year was £439,969 (2022= (£247.649)). 12 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHAIUTY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 STATEMENT OF FINANCIAL POSITION AS AT 30 APRIL 2023 2023 2022 N•te Current a55¢t5 Debtors Cash ai bank and in hand 249,921 776,131 83,217 492,866 Total current assets 1.026.052 576,083 Current liabilities Credirors.. amounls falling due wirhin one year 10 (20,(XMI) (10.000) Net CUTrent assets 1,006.052 566,083 The funds of th¢ eharity Unremricled income fun¢ls 13 l.(K)6.052 566,083 Total tharity funds 1,006.052 566,083 The noles on pages 15 to 26 are an irttegr#l pan of the financial staiements. The financial statements have been prepared in ￿￿rdance with the provi$ion$ relating to sm811 ompanies under Part 15 of ihe Comwdnie5 AGr. The financial statements on pages 12 10 26 were approved by ihe mistees on 27 Novernber 2023 aod signed on iheir behalf by Franz Ra￿r0. Franz Rantro Trustee Dire¢tor Dale: 29 Novemkn 2023 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUAIi4NTEE) CHARITY REGISTRATION NO. J153738 COMPANY REGISTRATION NO. 08636434 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JO APRtL 2023 2023 2022 Note C&sh innoH'I(outflow) from •peratiJbg •¢tlvlt6es: Nei cash ittflowl(ouiflow) fTOm Owating Adiviiies 183.26S (122,025) Change in cJ%h and cash equivalen15 in the rep)rting period Cash and ￿$b 4uivalenfS at the beginnin8 of the reporting peri 283,265 (122.025> 492.866 614,891 Cash and cash equivalenis ai ihe end of the ￿P)rtIng period 776,131 492,866 Ca$h and ¢a5h equlvalen¢$ ¢onsists of: Cash at bank and in hand 776.131 492.866 Tolal eash and cash equlvalents 776,131 492.866 The notes on pages 15 10 26 are gn int¢gral pan of the financial statements. 14 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APIUL 2023 GENERAL INFORMATION The Foundaiion was esiablished io provide donalions for the benefii of any one or more qualifying chariiies. Funds are g¢ntTaied through donaiions from Allen & Overy partn¢rs. The Foundalion is a privaie company limited by guar8nie¢ in¢orpora¢ed in the United Kingdom and registered in England and Wales wilh its regisiered office ai One Bishops Stware. London. EI 6AD. SUMMAR Y OF SIGNIFICANT AccouNfiNG POLICIES The principal ￿￿o￿n(Ing Folicies applied in Ihe preparation ofihe financial slalements are set out below. These policies have been cons4s1enily applied to all of rhe years presenied, unless oiherwise slated. Basis of preparntion The financial sialemenis have been PTepared in a¢¢oTdance wilh the Companies AGr. Charitie5 Act. Charities SORP and UK GAAP. including FRS 102. The financial slatements have wep)red under the hi￿OI1¢al cc61 convention. The preparaiion of finan¢ial st8i¢menrs in confomiiiy with FRS 102 require5 th¢ use of certain criti￿1 accounting esrimaies. Ir also requires ihe trnsiees to ¢xercise their judgement in ihe process of applying accouniing policies. The areas involving a higher degree of J￿dg￿ntnl or complexity, or areas where assumptions and ¢gimates are significanl lo ihe financial slaiemenis. are disclosed in note 3. Going concern The 1rns1￿ have o re¥son4ble expectation ihaf ihe Foundaiion has adequate fLn)nrial resources lo meei lis operational needs for a Fert￿￿ ofat le451 12 months from the date of approval of the financial staiements. The in￿lee$ iherefore CQniinu¢ io Adopt the going ¢oncem b&8is in preparing the finan¢ial 51alements. lfttoming resourtes Income is re¢ognised when ihe Foundation has eniiilemeni to the fund5, any perfomiance conditions aitached 10 the items ofincom¢ have been mei, li is probable that the income will rtteiv¢d and Ihe amouni can be measured reliably. The specific bxsis u$e(l is as follows". Dona¢ions and Icgacie5 Donalions and legacies received are recognised within ihe siaiement of finan¢ial Jrtivilies on r¢c¢ipt. Gift aid receivable on donaiion5 is recognised on an accnLa15 basis wiihin the siaiemeni of financial activities. THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUAIL4NTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JO APIUL 2023 (CONTINUED) SUMIMARY OF SIGNIFIC￿[ ACCOUNTING POLICIES (CONTINUED) Incoming resource5 (continued) Inieresi income Deposir inierest is ttccounied for on an •ccru•15 basis and credited to the unrestricted fund. Fund accountin 'Unreslricied incomefunds, referred io in ihe statement of financial position on page 13 are donation$ and ￿h¢[ incoming resources r¢c¢ived or generated and whith are ex￿ndable at Ihe discretion of ihe Foundation in fvrtherance of ils objectives. Exptndlture 'Chiiritable dclivities, (see note 6) are accounted for when the trvsttts (or the Membe￿ of the sU￿COmmIttee$) have approved the funding Jpplic4tion and the recipieni of the grant has been noiified. Governance costs include those incurred in ihe govemance of ihe Foundaiion's assets and are associated wilh Conslitutional, siaiuiory and $trdl¢gi¢ requir¢m¢nlS. Cash and ¢4$h equii'*lents 'CasA andcosh equivalenis, referred to in ihe siaiemeni of cash floivs on paEe 14 includes CAsh in hand, deposits held ai call with banks and oiher shon-lerm highly liquid investmenrs wirh original maNriiies of ihyee months or less. Finameial instrument5 The Foundaiion has Chos￿ io adopt sections I l and 12 of FRS 102 in respeci of fiJ)ancial insiruments. The Foundation only holds financial ￿sets and financial liabilities of a kind thar qualify as basic financial inMrumen15. Basic financial insirumenis. which includes cash and ￿$h equivalents, debiors. and accrua15 and deferred income. are iniiially recognised at iransaction value and suttrsequently measured at their settlement value. THE ALLEN & OVERY FOUNDATION (A COiIqPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) CRITICAL ACCoU￿1NG EsfiMATES AND JUDGEMENTS Th¢ Fryaraiion of the finan¢ial 5taiements under FRS 102 Tequires managanenl lo make estlTnaI￿ and assumpiions thai affect the rewrted amounts of income, ¢xp¢nses, assds and liabiliiies. The esiimar¢s and judgements are based on hisiorical experience and other fa¢ioTS including expectaiions of furnre evenis ihat are believed to be Teasonable and constitute mana8ement's besi judgement at the dale of the financial ststemenis. In the fulure. a¢wal oukcomes could differ from those eS1imaies. The esiimples and assumwions that hav¢ a 5iyif1￿nT risk of causing a maierial adjusiment io the carrying aTnouni of a55ets and liabiliiies within the nexi financial year relaie to the recov¢rJbility of Gift Aid amounts du¢ from HMRC which are recorded within debiors. When assessing Tecoverabili(y. managemeni considers faciors including the validity of Gift Aid ¢laims, ensuring compliance with HMRC requirements. and hisiorical eX￿lenCe. Further deiails are set out itt each of rhc relevani accouniin8 wli¢ies #nd noies to ihe financial staiemenis. Managemeni will coniinue io review assumptions used against acDJal experien¢e and market data and adjustm¢nis will be made in fuDJre periods wh¢re appropriate. DONATIONS AND LEGACIES 2023 2022 t)onation$ including amounts received via Gift Aid 2J03,484 1.525,114 All inu)me received was credited to the unr¢5trided fund. LEGAL STATUS OF THE CHARITY The Foundaiion is # eompany lirniicd by guaTaniee and has no Share capital. The liabiliry or rach member in the event of winding-up is limiied io £1. THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUAIi4NTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTIL4TION NO. 08636434 NOTES TO THE FINANCIAL STATEMEWTS FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) CHARITABLE ACTIVITIES 2023 2022 A¢Gess Yow Righi To CATe Action Again51 Hungef Aciion Tutoring Afghanisian and Central Asian AsxKiation Alice's Arc Amal8 Education AnD¢n¢ekon Ashton Communiiy Trusr Asociacion E5pafiola Contra el Cancer A5sociaiion Comiié de Emergencias Asylum Support Appeals Project Bail for Immigraiion Dethinees Befrienders Worldwide Birkbeck University of London Blind in Business Bloody Good Period Bristol Law Cenire British Red Cross Cape Mentors Cara Friend Ceasefire Cenire for Civilian Rights Centnl England Law Centre Change Please Foundation Charities Aid Foundation Children's Laiy Cenire Ciiizenship Foundation Class 13 CIO Classics For All CoachBri8hi Charitable Trnsl Community Aciion For Refugees And Asylum Seeker5 Coniaci a Family Dancers Career Develo￿en1 Depaul UK Div¢rsity Role Models Duke Universiiy Ealing Law C¢Dtr¢ s.oc I,OCK) 25,000 5,0 20,000 50,000 1,009 27,500 10.000 20.000 55.000 2,400 1.1)09 1,009 5,000 10,000 10,fy)o 1,000 10.cAJo 10,000 5,000 1,000 10,000 41,000 7,000 5,000 55,000 25,000 6,000 125.654 3,0￿) 15.000 7.000 So,0￿) 25.0(10 3,000 7.650 6,000 10,o(x) 5.0 7.126 2,500 5,IX)O 500 1,009 7,020 282,832 427.554 18 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) CHARITABLE ACTIVITIES (CONTINUED) 2023 2022 Subiolal curriedfonv&rd Economic Social and Cultyr41 Righis UK Extern Northern Ireland Fair Trials Iniernational Farm Africa Flourish Nl Forest Peoples Programme Fre¢ R¢pr¢5enlaiion Unil FrecdoTn From Tomirg Friends of Ihe Cancer C¢ntr¢ Fuwre Firsi Gavi COV AX AMC G¢t Further Givin8 Imperus To Voluntary Effor15 {Give India) Greenhouse Spons GROW Menioring Ha¢kney Migrani Cenire Hackney Quest H8rrow Law Centre Hel¢n Bamber Foundalion Hope and Hoffles for Child Huinart Rights Consorfium ICAN Charity Immigrant ARC Independent Parental Special Edllcaiion Advice Innovations For L¢arning UK Iniernaiional Lawyers Projeci Iniouniversiiy Invisibl¢ Girl Projecl Islingion Law Centre Jearni Sciences CIC JUSTICE Khuli5a Kinship Care Nl Law for Life Law for Life.. Ihe Foundation for Publi¢ Educaiion De Bohun Primary School 427.554 25.0(M) 5.0(M) 10,000 282,832 l O.O(K) .240 10,oc 50,000 55,C 10,(M)O 1,000 6.750 25.(M)9 10,c 10.(KJo 5,000 5.500 10.000 10.0 7.5(KJ 10,O(M) 430,383 lo,￿)0 I,￿9 8,000 5,000 5,000 i 0,000 1,012 5.000 l O,(K)O l O,(N)O i 0.000 10.O(K) 5.417 3.333 3.333 5,000 1.000 5,000 906.797 029,075 19 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. I IS3738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) CHARITABLE ACTIVITIES (CONTINUED) 2023 2022 Siibioial carriedfonvard West Grove PriTnary S¢hool LeaTning wilh Parenis Lewi5ham Refugee London Communlly Foundarion London Le8al Support Trust Madeline Mcmillan Maggie Keswi¢k Jen¢ks Cancer Carin8 Centrts TTU5t Magi¢ Breakfasi Maternity Aerion Menial HealFh Innovations Me))ial Health UK Mer5eyside Law Cenire Migrani and Refugee Children's Legal Unli mi￿ateful Moihers2Moihers IUK) Lid Mondo Challenge Foundation National Cenire for Circus Arts North Brisiol Advice Centre Nonh Kensinglon Law Cenire NSPCC PJddinslon Law Centre Partnership FOT Children Peppo C.l.C Pils Business Plan International UK POhWER 629.075 906. 797 5,000 10,CK)O 10,OCK) 25,000 10.000 i 0,1)￿) (10.000) 5,000 5.050 25,ClJO 10,0 1.1)￿) 5,0(N) i o,crf)) 10,c 28.5¢J) (10.C¥)O) 1,000 5,000 5.000 3,500 7,000 6.000 1.672 8.000 Praxis Community Projec Prism the Gift Fund Prisoners, Advice Service Rainbow Migration Refugee Legal Support Rhondda Cynon Taf Samphire Sands Sarah Whale Save ihe Children 25.000 1.th)0 5,000 4.000 10,000 5.000 7.0(Kl 1,000 1,000 1.000 1.058.019 748.575 THE ALLEN & OVERY FOUNDATION (A COTrI IPANY LIMITED BY GUARANTEE) CHARtTY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 IYOTES TO THE FINANCIAL sTATEmE￿s FOR THE YEAR ENDED 30 APIUL 2023 (CONTINUED) CHARITABLE ACTIVITIES (CONTINUED) 2023 2022 Subiolal cotTiedforwurd School-Home Support SeeBeyondBorders Shania Charles Souih West London Law Cenrres Souihwark Law Centre SpeCif￿d Non-Piofit CorpJr¥4tion Kamonoho5ki PFOje Spiiaifields Ciiy Fami Si Giles Tru51 St Mary Magdalen's School ST¢m4 Sritrhing Ms Resear¢h Street Child Suffolk Law Cenire Surviving Economic Abuse Tall Ships Youth Tr￿St The Baytfee Centre Th¢ Brilliant Club The Civil LiEerties Trust The Howard League for PeMal R¢form The Jenna Wilkins Foundation The Liieracy Pirdl¢ The Ministry of Stories The Public Law Proie¢t Th¢ RCJ Advice BUr￿U Th¢ R¢dre5s Trusi The S¢hDDI for Social EnIT￿renc￿r5 The Sussex Beacon The Swit¢hback Iniiiaiive The Turnaround Projeci Toekomstat¢lierd Together for Short Lives Tower Hamlets Educarion Business Partn¢rship Limiied Tower Hamld5 Law Centye Toynbee Hall Transport for All Trces for Cili¢s 748,575 25.000 1,058,019 S0.OCK) {10,000) 20.oc 10.oc 20,￿0 5.000 lo.￿0 5.¢XIO 5.000 1.009 373.666 554,748 10.000 5.O¢X) 10,000 10,(Y)O 5,000 10,000 5,000 20.0(K) 5.OC(I 5,0 10,000 8,00 15,000 55,000 25,000 1,000 5,000 5,000 50,000 10,[￿0 7.328 1,009 5.IXIO 6.700 20,750 5,000 2Q,000 20.000 5.000 10,000 J.592.410 1.655.403 21 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GuARA￿EE) CHARtTY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) CHARITABLE ACTIVITIES (CONTINUED) 2023 2022 Subiotal curriedfonvurd Ulster Universsly UN High Commi&sioner for Refugees Uniforn)ed Unitcd World Schools University College London University Of Strathclyde Law Clinic Unlock National A5xKia(ion of Ex-offendus Urban Syncrgy Voice 21 Walkabout Foundation Women for Women Iniernational Yajvee Kowlessur Young Enierprise Nl Young Roots YWCA England And Wales Zaccha¢u5 2(KMJ Trnsi 1.592.4JO 12.Th)0 95,0 5,OC 1.655.403 51.0(K) 1,000 5,OC 3,OCXI 5,0 i 0,000 25,000 1,000 1,000 27,5(NJ 105.1XYJ { i 0.(￿) 2,5(Kl io,ooo 10,000 10.( 25.CKJO Total gifts lo ¢harities Bank Charges Expenditure on charitable activities 1868410 1773 403 1,868.410 1,773,403 Negative donation amounts repr¢s¢nt accruals ihai were recorded in the prior year whe donaiions were expected to be payable towards some of ihe chariiable uuses supponed by Ihe Foundation. Accrued Amounts in cxcess of the donaiions paid were reversed wthen the final donation amounts were confirnied. GOVERNANCE AND OTHER cosrs Fees payable io the Foundation'5 audiiors for the audil of th¢ Foundalion's annual financial statemenrs have been inrluded wiihin the audit ftt borne by ihe ultimate parent undertaking for the years ended 30 April 2023 and 30 April 2022. 11 is noi p)ssible ro disaggregaie th¢ lolal audii fee related io Foundation. however management have derived an inlernally allocared fee of I2,007 for the audit of Foundaiion for ihe year ended 30 April 2023 (2022- £1.568). This amoynl was noi recharged in either y¢¥r. The Foundaiion has no employees and no paymenis of remuneration or expenses have been made io ihe irustees artd thus no key managemeni compensation is r¢qUIr￿ (2022.. £Nil). 22 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUAIiANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APIUL 2023 (CONTINUED) RELATED PARTY TRANSAcrioNs Some of lh¢ trustees are. OT have bxn, Allen & Ovuy parfTJers. In 8ddiiion to whai has tm) disclosed in noie 4 and ihe fijnds 8tt)evaied ihTough donaiion5 from All￿ & Overy partners, Allen & Ovwy rrfovides suprKirt services io ihe Foundaiion on a pro ix)no basis. During the year. Allen aThJ Overy partners donated £2.071.916 (2022.- £1,310.470) lo ihe Foundation. Addiiional Gifi Aid on partner donations in ihe year I￿alled £231.568 (2022- £214.644). There are no ouisianding balances with relaied parties at 30 April 202312022: £Nil). DEBTORS 2023 2022 Prepayments and ac¢n*d income 249.921 83.217 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accruals and defetted income 20,OCrf) i o,o¢J) 2.AlleD & Ovo." meaiis Allert& (hoy LLP Is wbgdLiwKry JndtheothErF•rywthips. ¢wP)rat￿ Mnd WAknakin8s whKth #tt autkniised to PrnCliceUy￿ th¢v&me'Akn & O¥w'. 23 THE ALLEN & OVERY FOUNDATION (A COitrIPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JO APIUL 20231CONTINUED) NOTES TO THE STATEMENT OF CASH FLOWS Net e*sh inflowl{outllow) from operatlng activities 2023 2022 Nei incomeJ(expen5¢) for the yeaT Adjusiments for-. Movemeni in debtors Movemenl in ¢r¢dilors 439,969 (247.650) (166.7041 10,ocM) 182,625 157,CW) Cash infiowl(ourflow) from operating activities 283265 (122.025) Net debt *nalysis Asat Imay 2022 Cash flows Asat 30 April 2023 Cash and cash equivalents 492.866 283,265 776.131 Toial 492.866 283.265 776.131 Asal IM4y 2021 Asat 30 Aprll 2022 Cash nows Cash aTrJ cash equivalents 614,891 (122.025) 492,866 Totsl 614.891 122.025 492,866 12. TAXATION The Foundation is a r¢gisl¢red charity and as such is exe￿￿ fTom laxarion on lis in¢om¢ and gains to the exteni ihai ihey are applied to its chariiable Pufposes. 24 THE ALLEN & OVERY FOUNDATION {A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 .COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL STATEMEhryS FOR THE YEAR ENDED 30 APIUL 2023 (CONTINUED) 13. UNRESTRICTED INCOME FUNDS 2023 2022 Atlmay Tolal incoming resour¢es Total resouyces expended 566,083 813,732 2.308,379 1.525.754 (1,868,410) (1.773.403) At JO April I,¢X)6,052 566,083 14. ANALYSIS OF FUNDS Balan¢¢ Imay 2012 B￿lance 30 April 21123 Incoming resources Resources expended Transfers Unrestri¢ted in¢oine funds 566.083 2J08.379 (1,868.410) 1.006.052 Total funds 566.083 2.308.379 (1.868.410) 1,006.052 Balance Imay 2021 Balance 30 April 2022 In¢oming resourtes R¢50wrce5 ¢xp¢nded Transfers UnTeslric*d income funds 813.732 1,525.754 (1.773.403) 566.083 T￿al funds 813.732 .525.754 (1.773.403) 566,083 15. LIABILITY OF MEMBERS Pursuant io ihe Memorandum and Articles tsf Association of th¢ Foundation ihe liability of ¢ach ember in ihe ev￿1 of winding-up is limited ro £1. 25 THE ALLEN & OVERY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NO. 1153738 COMPANY REGISTRATION NO. 08636434 NOTES TO THE FINANCIAL sTATEME￿rs FOR THE YEAR ENDED 30 APRIL 2023 (CONTINUED) 16. GRANT COMMITMENTS The total balance of grani commitments 31 30 April 2023 £855,IXIO (2022: £575,(NXI). payable in futur¢ years 51ricily subjeci io certain conditions being mei by the beneficiary. All of Ihe b¢neficiaries have been infom)¢d. Grant ¢ommithienisare fund&l from incomegenerated from ongoing aaiviiies and from reserves, WI￿re necessary. as ihey fall (kn. 17. FINANCIAL IN￿ RUMENTS 2023 2022 FID8￿121 a55ets held al amortised eost Cosh #i bank and in hand 776.131 492,866 FlnaN¢lal Ilabilities held ai amortised c05t Accruals 20.IJXI 10,oc 1& ULTIMATE PARENT UNDERTAKING The ultimate conirolling pany and ihe ultimaie parent undertaking of ihe Foundaiion is Allen & Overy LLP, whose ￿giSleTed office is One Bishops Square. London, El 6AD. Allen & Overy LLP exerclses Conlrol throush ihe ability io appoini or remove in￿teeS, amend ihe McTnorandum and Articles of A5sociaiion of ihe Foundation. And apN>int the independent audi10￿ of ihe Foundation. Allen & Overy LLP is the parenr undertaking of The 5mallesi and largest grotsp to which the Foundalion belongs and for which ¢onsolidJted financial statements are prepared. The princhpal aciivily of Allen & Oyery LLP is ihe wovision of legal seryices. Copies of the consolidai¢d fjnancial siatements of Allen & Overy LLP ¢an be obtained from In-House Legal. Allen & Overy LLP, 68 Donegall Quay. Belfasl, BTI 3NL. 26