OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

LSEG Foundation

(a charitable incorporated organisation)

Report and Financial Statements

Year ended 31 December 2025

Charity Number

1182952

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

CONTENTS Page
Officers and Professional Advisers' Report 1
Trustees’ Report 2
Trustees’ Responsibilities Statement 5
Independent Auditor’s Report 6
Consolidated Statement of Financial Activities 12
Balance Sheet 13
Consolidated Cashflow Statement 14
Notes to the Financial Statements 15

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES AND OFFICERS

John Thomas Jones Duminda Liyanwela (resigned 31 January 2025) Abha Thorat-Shah Erica Bourne Rochelle Louise Lucas (resigned 31 March 2025) Jane Goodland Lisa Condron James Pearson Corentine Poilvet-Clediere (appointed 11 December 2025) Prabhaharan Viswanathan (appointed 11 December 2025)

BANKERS

Citi Bank N.A. Canada Square, Canary Wharf, London E14 5LB, United Kingdom

SOLICITORS

Bateswells LLP 10 Queen Street Place, London, EC4R 1BE

AUDITOR

PEM Audit Limited Salisbury House Station Road Cambridge CB1 2LA

REGISTERED OFFICE

10 Paternoster Square London EC4M 7LS United Kingdom

1

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their annual report on the affairs of the LSEG Foundation, together with the financial statements and auditor’s report for the year ended 31 December 2025.

The financial statements comply with current statutory requirements and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102), effective 1 January 2019. The Charity is a registered Charitable Incorporated Organisation and governed by its constitution.

As used in this annual report, “LSEG” refers to London Stock Exchange Group PLC and its subsidiary undertakings, including joint ventures and associates. The “Charity” refers to LSEG Foundation and the “Group” refers to LSEG Foundation and its subsidiary, TicketAid Ltd.

Objectives and activities

The objectives of the Charity are to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time by making grants for the public benefit. In setting the Charity’s objectives and planning its activities, the Trustees have once again considered the Charity Commission’s general guidance on public benefit. The LSEG Foundation helps communities access economic opportunities and build a secure financial future. Working with charity and NGO partners, it delivers economic empowerment programmes across the world focusing on education, employment and enterprise.

Alongside this, the LSEG Foundation funds non-commercial partnerships which support the development of a sustainable economy. It also partners with disaster relief and specialist charities during times of crisis, to help communities respond, adapt and recover.

The LSEG Foundation receives its funding through LSEG donations, London Stock Exchange fines and corporate and colleague fundraising.

The Charity previously had a wholly owned subsidiary named TicketAid Ltd (“TicketAid”) which was incorporated and registered in England and Wales on 12 August 2019 and its registration number is 12150310. Following the closure of the TicketAid online fundraising platform to future donations, all outstanding donations and funds from TicketAid were distributed to LSEG Foundation in 2023.

At a Board meeting held in December 2025, the directors formally resolved to proceed with the voluntary strike-off of TicketAid. The requisite approvals and administrative actions to initiate the dissolution were subsequently completed and submitted in 2026.The voluntary strike off process has since been concluded and the company was formally dissolved. TicketAid remained dormant throughout the period up to dissolution.

Achievements and performance

The Charity received donations amounting to £4,639,528 (31 December 2024: £4,307,869). The Charity was successful in making grants amounting to £4,505,087 (31 December 2024: £4,548,529) (Note 5).

The donations contributed during the year were mainly used for supporting grants to charitable organisations and projects £4,235,087 (31 December 2024: £4,278,529) (Note 5).

2

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

Structure & Grant-Making Strategy

Activity in 2025 focused on three pillars of activity:

Non-commercial partnerships which support the development of a sustainable economy.

In support of its central mission, LSEG Foundation also partners with disaster relief and specialist charities during times of crisis.

To facilitate this activity, LSEG Foundation has a Board of Trustees, supported by a management team to run the day-to-day operations of the Charity. There are also employee-led regional charity committees and community action teams within LSEG to help identify charity partners and facilitate local engagement.

The Trustees are responsible for declaring any potential conflict of interest with applicant entries and in the instance a conflict arises, the respective Trustee or Trustees will act in accordance with the Conflicts of Interest Policy and may exclude themselves from the decision-making of any application.

The management team oversees the day-to-day administration of grants and manages the application process before and after the Board of Trustees' review and this delegation is operated in accordance with the Scheme of Delegated Duties, which is approved by the Board of Trustees. A scorecard approach is used for regional grant decision-making.

The appropriate due diligence is applied to all applicant entities in receipt of a grant, including any cross-border transaction guidance on restrictions or foreign currency payments where necessary.

Monitoring Impact

Following an application, and finalised due diligence screening, grant recipients are required to complete and sign a grant agreement, outlining the scope of the grant and engagement expectations from LSEG Foundation, as well as provide relevant operational and governance documents.

All charity partners are expected to provide impact updates during the term of the grant. These are assessed against an impact measurement framework, which includes the completion of an annual impact questionnaire and/or interview evaluations.

This information is fed back to the management team and Board of Trustees and included as part of annual impact analysis by focus area and region.

3

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

Financial review

The Charity disbursed grants amounting to £4,505,087 (31 December 2024: £4,548,529). No fundraising activities are conducted by the Charity.

The funds received as donations by the Charity are in general classified unrestricted funds. The profits transferred from TicketAid generally classified as restricted funds and can be used for specific purposes, however the donations received from LSEG are generally unrestricted donations and can be used for various purposes as deemed necessary by the Trustees.

The unrestricted fund is currently in surplus due to funds for year-end grant commitments not being allocated before the year-end. The Trustees will carry forward this surplus and allocate to future grant commitments.

Reserves policy

The Charity holds reserves to accommodate unexpected falls in income and increases in expenditure.

It is the policy of the Charity to hold reserves (unrestricted funds less funds designated for particular purposes and tied up in fixed assets) at a level representing 12 months' support costs. This equates to a range of between £55,000 and £60,000.

At the year-end, unrestricted free reserves were positive £4,950,656 (31 December 2024: £4,945,598).

Risk review

A risk register is maintained as part of the formal governance of the Charity, led by the management team. The risk register sets out the principal risks of the Charity and the mitigations/controls in place to manage these risks in alignment with the wider LSEG enterprise risk management framework. The Board of Trustees regularly reviews the principal risks to the Charity in the areas of strategy, reputational, operational resilience, people and culture, regulatory, financial, compliance and legal.

Future plans

The Charity intends to continue its role as a grant-making entity and the Board of Trustees will hold quarterly meetings to provide strategic oversight to the day-to-day activity of the management team. The voluntary strike off process for TicketAid has been concluded in April 2026 and the company was formally dissolved. TicketAid remained dormant throughout the period up to dissolution.

4

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

Going concern

The Charity's activities, results and future are disclosed in the Trustees' Annual Report. The Trustees have assessed the balance sheet and likely future cash flows at the date of approving the financial statements. The Trustees have a reasonable expectation that the Charity has, and will continue to have, adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The Trustees, therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.

Governance and Management

LSEG Foundation is a public benefit entity as defined by FRS 102. The Charity was registered on 11 April 2019 by Refinitiv Limited. Refinitiv Limited is the sole member of the Charity. There are currently eight Trustees. The Charity is a registered Charitable Incorporated Organisation (CIO) and the registered office address is given on page 1.

The Trustees of the Charity who served during the period covered by this report, and the period up to it being signed, are listed on page 1. The power to appoint new Trustees is held by Refinitiv Limited. Trustees are appointed for an initial three-year term and may subsequently be re-appointed for a maximum of two further terms counted consecutively or non-consecutively, after which they must retire from office and may not be reappointed.

The Board of Trustees has approved Terms of Reference and Schedule of Matters reserved for the Board of Trustees (the “Matters Reserved”) and a Statement of Delegated Duties for management (the “Delegated Duties”).

The Matters Reserved include the key principles and matters reserved to the Board of Trustees, to enable the Trustees to effectively govern the LSEG Foundation by making decisions at a strategic level (rather than the detail of day-to-day management and administration). Under charity law, the legal starting point is that all decisions must be taken by the Board unless they are delegated.

The Delegated Duties sets out which management decisions, committee decisions and financial decisions are delegated, to whom and on what terms.

The Charity does not have any directly employed management and does not pay any remuneration or fees to either management or Trustees. There is a Framework Agreement, which governs the relationship and working arrangements between LSEG and the Charity and covers matters including funding and provision of resources.

The Trustees’ Report was approved by the Board of Trustees on 18 June 2026, and signed on its behalf by:

Erica Bourne

Trustee

5

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK”.

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

INDEPENDENT AUDITOR’S REPORT

Opinion

We have audited the Consolidated financial statements of LSEG Foundation (the 'parent charity') for the year ended 31 December 2025 which comprise the Consolidated Statement of financial activities, the Consolidated and charity Balance sheets, the Consolidated and Charity Statement of changes in equity, the Consolidated Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are

7

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

INDEPENDENT AUDITOR’S REPORT

described in the relevant sections of this report.

OTHER INFORMATION

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies 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.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF THE TRUSTEES

As explained more fully in the Trustee's responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity'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 Trustee either intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives 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 to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

8

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

INDEPENDENT AUDITOR’S REPORT

economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

As a result of the above risk assessment procedures we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override controls together with the risk of fraudulent revenue recognition. We considered the risk of fraudulent revenue recognition to be most prevalent in the cut-off of revenue. In response to these identified risks, we designed procedures which included, but were not limited to:

9

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

INDEPENDENT AUDITOR’S REPORT

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

10

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

INDEPENDENT AUDITOR’S REPORT

USE OF OUR REPORT

This report is made solely to the charity's trustee in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustee those matters we are required to 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 charity and its trustee, as a body, for our audit work, for this report, or for the opinions we have formed.

PEM Audit Limited Registered Auditors Salisbury House Station Road Cambridge CB1 2LA

6/30/2026

11

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including Consolidated income and expenditure account) Year ended 31 December 2025

Note
INCOME
FROM:
Donations
4
TOTAL
INCOME
EXPENDITURE
ON:
Charitable
activities:
5
TOTAL EXPENDITURE
Net
Income/(Expe
nditure)
Restricted
transfer
Net Movement
in funds
RECONCILIATI
ON OF FUNDS:
Total funds
brought
forward
Net
movements in
funds for the
year
Total funds
carried forward		 Unrestricted
funds
Restricted
funds
2025 Unrestricted
funds
Restricted
funds
2024
£
£
£
£
£
£
4,639,528
-
4,639,528
4,307,869
-
4,307,869
4,639,528
-
4,639,528
4,307,869
-
4,307,869
4,634,470
-
4,634,470
4,667,655
-
4,667,655
4,634,470
- 4,634,470
4,667,655
-
4,667,655
5,058
-
5,058
(359,786)
-
(359,786)
-
-
-
-
-
5,058
-
5,058
(359,786)
-
(359,786)
4,945,598
6,464
4,952,062
5,305,384
6,464
5,311,848
5,058
-
5,058
(359,786)
-
(359,786)
4,950,656
6,464
4,957,120
4,945,598
6,464
4,952,062

There were no other recognised gains or losses other than those listed above and the net income for the year. All income and expenditure derive from continuing activities.

12

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

BALANCE SHEET As at 31 December 2025

Note
Fixed Assets
Investments
8
Current Assets
Debtors
9
Cash at bank and in
hand
Current Liabilities
Creditors: amounts
falling due within one
year
10
Net Current
Assets/(Liabilities)
Net
Assets/(Liabilities)
Funds
Unrestricted funds:
General funds
11
Restricted funds:
General funds
11
Total Funds
11		 Group
Charity
Group
Charity
31
December
2025
£
31
December
2025
£
31 December
2024
£
31 December
2024
£
-
1
-
1
4,540,056
4,540,056
4,221,855
4,221,855
1,619,885
1,619,885 875,871
875,871
(1,202,821)
(1,202,822)
(145,664)
(145,665)
4,957,120
4,957,119
4,952,062
4,952,061
4,957,120
4,957,120
4,952,062
4,952,062
4,950,656
4,950,656
4,945,598
4,945,598
6,464
6,464
6,464
6,464
4,957,120
4,957,120
4,952,062
4,952,062

These financial statements of LSEG Foundation registered number 1182952 were approved by the Board of Trustees and authorised for issue on 18 June 2026. They were signed on its behalf by:

Erica Bourne Trustee

13

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE Registered Charity No. 1182952

CONSOLIDATED CASHFLOW STATEMENT Year ended 31 December 2025

Net income for the year
Operating cash flow before movement in working capital
(Increase)/decrease in Debtors
Increase/(decrease) in Creditors
Net Cash Inflow/(Outflow) from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at the end of the year
Reconciliation to cash at bank and in hand:
Cash at bank and in hand
Cash and cash equivalents		 2025
£
2024
£
5,058
(359,786)
5,058
(359,786)
(318,201)
455,361
1,057,157
(129,061)
744,014
(33,486)
-
-
-
-
744,014
(33,486)
875,871
909,357
1,619,885
875,871
1,619,885
875,871
1,619,885
875,871

14

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

1. ACCOUNTING POLICIES

Charitable status

LSEG Foundation is a public benefit entity as defined by FRS 102. The Charity was registered on 11 April 2019 by Refinitiv Limited. There are currently eight Trustees. The Charity is a Charitable Incorporated Organisation registered in England and Wales and the registered office address is given on page 1. The objectives and activities of the Charity are set out in the Trustee’s report.

Basis of accounting

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019.

The presentation and functional currency of the financial statements is GBP.

Values are rounded to the nearest pounds.

The principal accounting policies are set out below:

Basis of consolidation

The consolidated financial statements comprise the Charity and its wholly-owned subsidiary undertaking, TicketAid. The net income from trading activities of the subsidiary is shown in note 3. The results of the subsidiary are consolidated on a line-by-line basis.

Preparation of financial statements - going concern basis

The Group's activities, results and future are disclosed in the Trustees' Annual Report. The Trustees have assessed the balance sheet and likely future cash flows of the Charity at the date of approving the financial statements. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The Trustees, therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.

Income

Income is recognised when the Group and Charity have entitlement to the funds on donor approval of final donation amounts, any performance conditions attached to the item(s) of income have been met, when it is probable that the income will be received, and the amount can be measured reliably.

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. Expenditure is classified under the following activity headings:

Expenditure on raising funds includes the costs incurred in generating voluntary and fundraising income.

15

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Expenditure on charitable activities includes support costs being those functions that assist the work of the Charity but do not directly undertake charitable or fundraising activities. Support costs include back-office costs, finance, personnel and governance costs which support the Charity’s activities.

Grants are included in the statement of financial activities when approved by the Trustees and communicated to the beneficiaries. If a grant is awarded that is dependent on certain conditions being met, it is treated as expenditure and a liability of the Charity if those conditions fall outside of the control of the Charity.

Donated services

Donated services are recognised on the basis of the value of the gift to the Charity, which is the amount the Charity would have been willing to pay to obtain facilities or services of equivalent economic benefit on the open market.

Administration services are provided by LSEG free of charge and their details are as follows:

Particulars 31st December 2025
£		 31st December 2024
£
Legal fees 207 19,436
Support costs 60,000 60,000

Fund accounting

Restricted funds are funds subject to specific restrictions imposed by the funding authorities and donors. These funds are not available for the Trustees to apply at their discretion. The purpose and use of the restricted fund are set out in the notes to the financial statements. The Charity has no designated funds during the year.

Taxation

The Charity is a registered charity and has no liability to corporation tax on its charitable activities under the Corporation Tax Act 2010 (chapters 2 and 3 of part (ii), section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes.

Investments

The investment in subsidiary undertakings is measured at cost less impairment.

Financial instruments

The Charity and Group only have financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash at bank and cash in hand includes cash and bank balances. Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Trade debtors are recognised at the settlement amount due after any trade discount offered.

16

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Group’s accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

3. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY

There has been no net income from the trading activities of the subsidiary during the reporting period, as the subsidiary is a dormant entity since 2023. The subsidiary has not undertaken any trading activity since becoming dormant. A resolution to progress the strike‑off of the company was approved by the Board in December 2025, with the necessary approvals and administrative steps completed in 2026. The voluntary strike off process has since been concluded and the company was formally dissolved. TicketAid remained dormant throughout the period up to dissolution.

4. ANALYSIS OF INCOME FROM DONATIONS

Donations from group
entities

Donated services		 2025
£
4,555,351
84,177
4,639,528		 2024
£
4,206,295
101,574
4,307,869

17

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Grants to
institutions
Disaster
Relief
Support
grants to
charitable
organisations
and projects
Restricted
Grant
FX
Bank Charges
Bank Interest
Legal fees
Audit fees
Support
services		 Unrestric
ted
Grants
£
270,000
4,235,087
-
17,833
1,700
-
207
23,970
85,673
4,634,470		 Restri
cted
Grant
s
£
-
-
-
-
-
-
-
-
-
-		 2025
£
270,000
4,235,087
-
17,833
1,700
-
207
23,970
85,673
4,634,470		 Unrestric
ted
Grants
£
270,000
4,278,529
-
198
2,226
-
19,436
22,138
75,128
4,667,655		 Restri
cted
Grant
s
£
-
-
-
-
-
-
-
-
-
-		 2024
£
270,000
4,278,529
-
198
2,226
-
19,436
22,138
75,128
4,667,655

Grants to institutions

rants to institutions
Name 2025 2024
£ £
A Warm Meal (O Masa Calda) 2,000 -
Act for Tomorrow 1,258 -
African Leadership Foundation 10,000 15,000
Aidha 14,000 -
Amigos Do Bem Instituição Nacional Contra A Fome ea Miséria 9,000 10,000
Asociația ANAIS 4,070 340

18

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Asociatia Club Sportiv Climb Again 6,476 -
Asociatia Dincolo De Autism 935 -
Asociatia Lindenfeld 340 -
Asociaţia Nuca Animal Welfare 1,105 -
Asociația Organizația Creștină Something New 12,000 10,000
Asociatia Red Panda 714 -
Asociatia The Social Incubator 10,000 20,000
Autistica 8,000 10,000
Aoibhean pink tie 2,000 -
Beijing Well-Being Foundation 11,000 -
Beit El Baraka 9,000 10,000
Blind In Business Trust 14,000 20,000
Bookland 10,000 -
Breakthrough New York Inc 16,000 16,000
Brighter Children inc 15,000 15,000
British Film Institute 700 -
Cancer Research UK 2,496 -
CANSA (Cancer Association of South Africa) 57 -
Chapter zero 100,000 -
Childhope Philippines Foundation, Inc 19,250 29,366
Childrens Attention Home Inc 4,000 5,000
Christian Herald Assn Inc (Bowery Mission) 18,450 20,475
City Harvest Inc 22,000 20,000
City Harvest UK 5,000 5,000
Community Southwark 13,660 10,000

19

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Connecting Stories CIC 5,000 -
Cook For Good CIC 20,500 65,000
Covenant House 5,000 20,000
Cree Ton Avenir!!! - France 17,500 17,000
Day One New York Inc 15,000 20,000
Diana Award 10,000 -
Diversity Role Models 8,000 1,500
Down's Syndrome Association 10,000 10,000
Duyan Project - Project Red Ribbon Care Management Foundation
Inc. 21,387 1,628
Ellenor Hospice 300 -
Fair Shot 10,000 -
Fedcap Rehabilitation Services Inc - Dixon Center for Military and
Veteran Services 12,000 12,000
Feed The Need STL 3,000 3,000
Foundation for the Global Compact (UNSSE) 50,000 50,000
Foundation of Goodness 180 -
Founders4Schools 40,500 20,000
Friends Of Shenstone 1,050 -
Fundación Construyendo Sonrisas 17,000 15,000
Fundación Prodis 11,000 -
Fundacja Ośrodek Jelonki (Ośrodek Okresowej Rehabilitacji
Zwierząt Jelonki) 807 1,200
Fundația Adăpostul Speranța 880 -
Fundatia Agentia De Dezvoltare Comunitara Impreuna (Agency for
Community Development) 12,000 10,000
Fundatia Light Into Europe 680 -
Fundatia The Duke of Edinburgh's International Award Romania 10,000 10,000
Future for Kids 3,800 -

20

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Generation - You Employed Inc 250,000 -
Genius Within CIC 10,000 -
Georges Malaika Foundation incorporated 125,000 35,000
Girls Incorporated of New York City 17,000 20,000
Give Out 20,000 20,000
Global Alms Incorporated 6,000 -
Grace Institute 17,250 20,000
Great Neck Student Aid Fund Inc 2,000 -
Handicap International UK (Humanity & Inclusion) 11,000 10,000
Hands On Manila Foundation, Inc. 1,500 -
Handson London 22,775 5,000
Hispa Inc 15,000 10,000
Hope And Homes for Children 15,000 25,000
Hope Foundation 54,000 70,000
ICAN Charity (Speech and Language UK) 20,000 20,000
IFRS Foundation 100,000 350,000
Inspiring Girls Hong Kong 20,000 20,000
International Justice Mission UK 15,000 20,000
Ka-Agapay Philippines Inc. 5,950 3,217
Kenya School Desk O.D.V. 5,636 -
Kuching Autistic Association 75 -
La Cravate Solidaire (La Cs À Notre Fondation) 12,000 -
La Primul Bebe 622 -
Leroy Springs & Company Inc 4,000 -
Lindenfeld Association 14,000 21,020

21

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Lions Elderly Home 1,250 -
London School of Economics and Political Science 425,000 350,000
Lord mayor's appeal 25,000 25,000
Man & Boy 11,000 10,000
Maternal Aid Association 250 -
Médecins Sans Frontières / Doctors Without Borders (MSF) UK 40,000 20,000
Memorial Sloan Kettering Cancer Center (MKSCC) 5,000 8,987
Miraikodomo Foundation 14,000 20,000
Movember UK 3,260 -
Myaware 2,000 -
National Numeracy 25,000 30,000
Nether Alderley Primary Parent Teacher Association 2,000 -
New York Scores 15,000 20,000
Npo Sankakusha 10,000 -
One-Forty 934 20,000
Our Big Kitchen 800 500
Paradis D'Enfants Association 8,000 -
Parikrma Humanity Foundation 39,000 40,000
Persatuan Autisme Kuching (Kuching Autistic Association) [Kaa] 15,000 20,119
Persatuan Pembantuan Kristian Malaysia (Malaysian Christian
Association for Relief) 14,000 -
Pro Mujer Inc 5,000 10,000
Project Pearls USA Inc 5,882 4,751
Provate Societa Cooperativa Social 1,000 1,588
Pursuit Transformation Company Inc 15,000 20,000
Radio Mindanao Network Foundation, Inc. 17,000 20,000

22

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Rafał Brzoska Foundation 10,000 -
Rainforest Protectors of Sri Lanka 10,000 -
Raspberry Pi Foundation 250,000 -
Reef Check Malaysia 3,500 -
Refushe Inc 15,300 20,000
Rivers And Forests Alliance (RAFA) 1,000 724
Roads To Success Inc 8,000 -
Rock Hill School District Foundation 25,500 30,000
Room to Read 250,000 250,000
Salva Vita Alapítvány 15,000 20,000
Samarthanam Trust For the Disabled 20,000 20,000
Sapna Nyc Inc (Westchester Square Partnership Inc) 15,000 20,000
Sayes Mentoring 20,000 30,000
Scalabrini Centre of Cape Town (Lawrance house) 11,336 10,000
School of Hard Knocks 5,000 -
School-Home Support Service (Uk) 20,000 20,000
Seneca Street Community Development Corporation 18,000 25,000
Share the care 500 -
Share the Care (Youth Impact) 14,500 15,000
Shilpa Sayura Foundation 20,000 40,000
Somerset Hills Education Foundation 5,000 -
Somerset Hills Education Foundation 1,531 -
Sorok Uni Foundation Inc. 3,000 3,000
Sri Sathya Sai Institute of Higher Medical Sciences, A Unit of Sri
Sathya Sai Central Trust 20,000 -
St Louis Artworks 18,000 20,000

23

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Standard Chartered Bank Foundation 4,453 -
Stichting Thaki Nederland 6,000 10,000
Streetwise Partners Incorporated 8,000 -
Swades Foundation 21,500 20,000
Teach For Romania 326 -
The Access Project 20,000 20,000
The Akshaya Patra Foundation 68,500 20,693
The Cherie Blair Foundation for Women 10,000 -
The Cyber Helpline 3,494 -
The Federation of London Youth Clubs 10,000 -
The Garden of Hope Foundation 20,000 21,000
The King's Trust International 20,000 -
The LIS Foundation 11,500 19,500
The Mudchute Association 10,000 5,000
The Pyjama Foundation Ltd 15,000 20,000
The Royal British Legion 650 -
The Single Homeless Project 22,000 -
The Woodgreen Foundation 20,530 20,000
Torriano Primary School Parent Teachers Association 750 -
Urban Synergy 34,100 30,050
Uturn 15,000 10,000
Verein Hint Wien 11,000 13,000
Virlanie Foundation, Inc. 18,704 -
Vogel Alcove 16,000 20,000
Women First Inc 10,000 -

24

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Women's world banking 250,000 250,000
Working In Support of Education (WISE) 13,000 13,000
World Wildlife Fund Canada 45 -
World Wildlife Fund, Inc 650 -
XBRL 50,000 -
X-Forces (XF) CIC 24,500 24,500
Yes Futures 20,000 20,400
Youth For Seva 61,500 26,000
Persatuan Kebajikan Suara Kanak-Kanak Malaysia (Suka) 20,250 -
Nine Miles Project 500 21,362
Asociatia Sprijin Pentru Comunitate Si Asistenta Umanitara
(Association For Community Support and Humanitarian Aid) 12,000 17,000
Blackbaud Yourcause Matching Fund Invoice 492,224 337,803
ChildFund Philippines Foundation Inc. 19,630 422
Donorschoose 5,000 10,436
Haribon Foundation for the Conservation of Natural Resources 2,244 1,874
International Rescue Committee UK 250,000 254,269
Kwanele Bringing Women Justice Npc (Grit - Gender Rights In Tech) 15,000 10,000
Missouri Veterans Endeavor (MOVE) 20,000 20,000
Il Bucaneve Aps (160) 160
Woodside Green Christian Centre (600) 600
Pomorski Koci Dom Tymczasowy Fundacja Międzynarodowy Ruch
na Rzecz Zwierząt Viva (649) -
3rd Royal Eltham Scouts - 2,000
Academy Achievers - 10,000
Alexandra Rose Charity - 865
Alzheimers Association - 82

25

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Ambitious Together Foundation - 10,000
Apps For Good - 500
Asociatia Casa Buna - 1,413
Asociatia Little People Romania - 1,509
Association La Geminerie - 4,300
AYA - 132
Beyond conflict - 20,146
Big Brothers Big Sisters of Metropolitan Chicago - 1,566
Bimbo Tu - 385
Bloodwise - 9,326
Bone cancer research trust - 2,000
Bridging Lanka - 20,000
British Red Cross Society - 1,272
Buddy bags UK - 3,000
Cape Code - 10,000
Childrens Oncology Services Inc - 442
Community First Development Limited - 20,000
Crohns And Colitis Uk - 350
Dimphonyana Tsa Lapeng - 800
Effektiv Altruisme Norge - 2,000
Enable India - 50,000
Eternal Giving Foundation - 10,000
Fondazione F.A.R.O. Ets - Fondazione Assistenza Ricerca
Oncologica Piemonte - 10,000
Friends Of Bedgrove Infant School - 200
Fundación Parque La Libertad - 15,000

26

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Fundacion Semillitas De Dios "Fsd Colombia" - 10,000
Fundatia World Vision Romania - 10,000
Generation You Employed, UK - 35,250
Girls Who Code - 250,000
Givingworks - Women V Cancer - 2,000
Glioblastoma Foundation - 2,000
God's love we deliver - 5,000
Grace Crocker - 20,500
Hero Foundation Inc - 319
Instituto Tecnológico Y De Estudios Superiores De Monterrey - 10,000
Llanberis Mountain Rescue Team - 1,756
Luminary Limited - 15,000
Lupus Research Alliance Inc - 1,206
Methodist Welfare Services - 590
Movember Europe - 10,769
National Multiple Sclerosis Society - 285
Newlyn Art Gallery Ltd - 5,570
Npo Mirai No Mori - 270
Oasis Childrens Venture Ltd - 400
Omenaa Foundation - 10,000
OXFAM France - 1,130
PALTOWN Development Foundation - 2,000
Persatuan Kebajikan Suara Kanak-Kanak, Malaysia (Suka) - 20,000
Plenty Colorado - 2,002
Polska Akcja Humanitarna - 819

27

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Prison Advice and Care Trust (PACT) - 10,000
Rafiki Thabo Foundation - 1,500
Royal Far West - 230
RVNA Health - 164
Save The Children Philippines Inc - 350
Scale Up Institute - 15,000
Skills Builder (Enabling Enterprise) - 252,000
SOS Children's village - 2,000
Spark - Samahan Ng Mga Pilipina Para Sa Reporma at Kaunlaran Inc - 18,000
St Leonards PTA - 2,000
Start Young UK - 1,107
Teenage Cancer Trust - 500
The American National Red Cross - 79
The Atlas Foundation - 6,811
The Brain Tumour Charity - 290
The Cowrie Scholarship Foundation - 18,000
The Cure Parkinsons Trust - 1,168
The Diversity Project (CIC) - 5,000
The Maggie Keswick Jencks Cancer - 749
The Royal Marsden Cancer Charity - 10
The Save The Children Fund - 1,800
The Talent Tap - 20,000
The Women's Foundation Limited - 20,000
Torriano Primary School Parent Teacher Association - 750
Variety the Children’s Charity - 1,540

28

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

West Auckland Hospice -
2,000
Whitefield Academy Inc -
1,590
Willow International (Everfree) -
16,000
Youth Of Maitland -
1,500
Zero plastic -
20,000
YMCA -
756
Total Grants 4,505,087 4,548,529

6. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL

The Charity does not have any directly employed management and does not pay any remuneration or fees to either management or any of the Trustees.

No Trustees received reimbursed expenses during the current or previous years.

7. AUDITOR’S REMUNERATION

The fee payable to the Charity’s auditor for the audit of the Charity’s annual financial statements is £19,975 (2024: £17,900) and for the audit of the Charity’s subsidiary is £Nil (2024: £Nil) and are reimbursed by Refinitiv Limited.

29

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

8. FIXED ASSET INVESTMENTS

Investment
in subsidiary
companies
At 31 December 2024 and 31December
2025 1
Principal subsidiaries
The following was a subsidiary undertaking of the Charity:
Incl
ude
Company
number		 Holding d in
cons
olida
tion
TicketAid Limited 12150310 100% Yes
The financial results of the subsidiary for the year
were:
Net
Profit/(los asse
Income Expenditure s) ts
£ £ £ £
TicketAid Limited - -
- 1
**9. ** DEBTORS
Group:
2025 2024
£ £
Amounts falling due within one year:
Debtor: Amount due from fellow group undertakings 4,527,545 4,221,855
Debtors: Amount due from third-parties 12,511 -
4,540,056 4,221,855

30

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Charity:

10.
CREDITORS
Group:
Amounts falling due within one year:
Grant commitments
Creditor: Audit fee accrual
Creditor: Others

Charity:
Amounts falling due within one year:
Grant commitments
Creditor: Audit fee accrual
Creditor: Others
Creditor: Amount due to subsidiary

Amounts falling due within one year:
Debtor: Amount due from Subsidiary
Amounts due from fellow group undertakings
Debtors: Amount due from third-parties
 2025
£
(1,172,263)
(23,970)
(6,588)
(1,202,821)
2025
£
(1,172,263)
(23,970)
(6,588)
(1)
(1,202,822)
2025
£

-
4,527,545
12,511
4,540,056		 2024
£
(121,734)
(21,480)
(2,450)
2024
£
-
4,221,855
-
4,221,855


(145,664)
2024
£
(121,734)
(21,480)
(2,450)
(1)
(145,665)

31

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

11. MOVEMENTS ON FUNDS

Group:

Unrestricted funds
General fund
Unrestricted fund total
Restricted fund
General fund
Restricted fund total
Total Group funds
Charity:
Unrestricted funds
General fund
Unrestricted fund total
Restricted fund
General fund
Restricted fund total
Total Group funds		 As at 1
January
2025
£
4,945,598
4,945,598
6,464
6,464
4,952,062
As at 1
January
2025
£
4,945,598
4,945,598
6,464
6,464
4,952,062		 Income
£
4,639,528
4,639,528
-
-
4,639,528
Income
£
4,639,528
4,639,528
-
-
4,639,528		 Expenditur
e
(including
taxation)
£
4,634,470
4,634,470
-
-
4,634,470
Expenditur
e
(including
taxation)
£
4,634,470
4,634,470
-
-
4,634,470		 As at 31
Decemb
er 2025
£
4,950,656
4,950,656
6,464
6,464
4,957,120
As at 31
December
2025
£
4,950,656
4,950,656
6,464
6,464
4,957,120

Restricted Funds:

Restricted funds are to be held and disbursed as per instruction from TicketAid Limited for the charities that the funds have been raised for.

32

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Group:

Unrestricted funds
General fund
Unrestricted fund total
Restricted fund
General fund
Restricted fund total
Total Group funds
Charity:
Unrestricted funds
General fund
Unrestricted fund total
Restricted fund
General fund
Restricted fund total
Total Group funds		 As at 1
January
2024
£
5,305,384
5,305,384
6,464
6,464
5,311,848
As at 1
January
2024
£
5,305,384
5,305,384
6,464
6,464
5,311,848		 Income
£
4,307,869
4,307,869
-
-
4,307,869
Income
£
4,307,869
4,307,869
-
-
4,307,869		 Expenditur
e
(including
taxation)
£
4,667,655
4,667,655
-
-
4,667,655
Expenditur
e
(including
taxation)
£
4,667,655
4,667,655
-
-
4,667,655		 As at 31
Decemb
er 2024
£
4,945,598
4,945,598
6,464
6,464
4,952,062
As at 31
December
2024
£
4,945,598
4,945,598
6,464
6,464
4,952,062

33

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

12. ANALYSIS OF ASSETS AND LIABILITIES BETWEEN FUNDS

Group:

oup:
Unrestrict Restricte
ed funds d funds Total
£ £ £
Current assets 6,153,477 6,464 6,159,941
Current liabilities (1,202,821) - (1,202,821
)
As at 31 December 2025 4,950,656 6,464 4,957,120
Unrestrict Restricte
ed funds d funds Total
£ £ £
Current assets 5,091,262 6,464 5,097,726
Current liabilities (145,664) -
(145,664)
As at 31 December 2024 4,945,598 6,464 4,952,062

Charity:

arity:
Unrestrict Restricte
ed funds d funds Total
£ £ £
Investments 1 - 1
Current assets 6,153,477 6,464 6,159,941
Current liabilities (1,202,822) - (1,202,822)
As at 31 December 2025 4,950,656 6,464 4,957,120

34

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Unrestrict Restricte
ed funds d funds Total
£ £ £
Investments 1 - 1
Current assets 5,091,262 6,464 5,097,726
Current liabilities (145,665) - (145,665)
As at 31 December 2024
 4,945,598 6,464 4,952,062

13. RELATED PARTY TRANSACTIONS

No Trustees have received payment for professional or other services supplied to the Charity during the current or previous year.

Total donations received from the Trustees during the year is £Nil (2024: £Nil).

Total donation received from the subsidiary undertaking during the year was Nil (2024: £Nil). At the year-end, the balance due from the subsidiary undertaking was Nil (2024: £Nil). Donations received from group entities during the year amounted to £4,639,528 (2024: £4,307,869) which includes donated services as mentioned in the below table. During the current and previous financial years, a balance of £4,503,575 (2024: £4,200,375) was due from LSEG group entities.

Administration services are provided by LSEG free of charge and their details are as follows:

Particulars 2025
£		 2024
£
Legal fees 270 19,436
Support costs 60,000 60,000

There are no other related party transactions to disclose.

14. PARENT AND ULTIMATE PARENT UNDERTAKING

As at 31 December 2025, the Charity's ultimate parent company and the parent that headed the largest group of entities for which consolidated financial statements were prepared was London Stock Exchange Group plc, a public company incorporated and domiciled in England and Wales. LSEG is a leading global financial markets infrastructure and data provider. LSEG exercises control by virtue of owning 100% of the issued share capital. A copy of LSEG’s consolidated financial statements can be obtained from London Stock Exchange Group plc, 10 Paternoster Square, London, EC4M 7LS.

The immediate parent is Refinitiv Limited, a private limited company by share capital incorporated in the United Kingdom and registered in England and Wales. Refinitiv Limited is a provider of critical news, information, and analytics, enabling transactions and connecting communities of trading, investment, financial, and corporate professionals. In the event the

35

Docusign Envelope ID: CDCCD98C-49E1-817E-811B-5A541232DF86

CORPORATE

Registered Charity No. 1182952

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Charity is wound up, Refinitiv Limited is liable to contribute to the assets of the Charity such amount (but not more than £1) as may be required for payment of the debts and liabilities of the Charity. Refinitiv Limited exercises control over the Charity by virtue of its power to appoint Trustees and specify their terms of office. The decisions which must be made by Refinitiv Limited are to amend the constitution of the Charity, amalgamate the Charity with, or transfer its undertaking to, one or more other charitable incorporated organisation, or wind up the Charity. A copy of Refinitiv Limited’s financial statements can be obtained from Refinitiv Limited, Five Canada Square, Canary Wharf, London, E14 5AQ.

36