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: 

- **Strategic partnerships** Funding high-impact strategic partners to deliver economic empowerment programmes across the world, through multi-year strategic partnerships. 

- **Regional programme and volunteering partnerships** Providing grants and facilitating LSEG employee volunteering support to a range of regional and locally selected charities, tackling the issues that matter most in the communities where LSEG operates. 

- **Sustainable economy partnerships** 

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 received all its income from donations amounting to £4,639,528 (31 December 2024: £4,307,869). 

- The expenditure for the year ended 31 December 2025 amounted to £4,634,470 (31 December 2024: £4,667,655). 

- The net income for the year ended 31 December 2025 amounted to £5,058 (31 December 2024: (£359,786)). 

- The total amount of funds the Charity has at the end of the reporting period was £4,957,120 (31 December 2024: £4,952,062). The restricted fund amounted to £6,464 (31 December 2024: £6,464) and the unrestricted fund amounted to £4,950,656 (31 December 2024: £4,945,598). No designated funds were held. 

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: 

- select suitable accounting policies for the Charity’s financial statements and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. 

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: 

- give a true and fair view of the state of the Group and parent charity's affairs as at 31 December 2025 and of 

   - its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **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: 

- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept by the parent charity; or 

- the parent charity financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **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: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the parent charity through discussions with trustees and other management, and from our commercial knowledge and experience of the grant giving sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the parent charity, including the Charities Act 2011, FRS 102 and taxation legislation; 

- in addition, we considered provisions of other laws and regulations which do not have a direct effect on the financial statements but compliance with which might be fundamental to the parent charity’s ability to operate or to avoid material penalties; 

- we obtained an understanding of the legal and regulatory framework applicable to the charity and of the charity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance; 

- we made enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 

- we considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; 

- laws and regulations identified were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

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: 

- performed analytical procedures to identify any unusual or unexpected relationships; 

- performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business; 

9 



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

CORPORATE 

**Registered Charity No. 1182952** 

## **INDEPENDENT AUDITOR’S REPORT** 

- we evaluated the assumptions and judgements used by management within significant accounting estimates and assessed whether these indicated evidence of management bias; 

- performed substantive testing for a sample of transactions from a listing of all donations recorded to supporting documentation and receipts to ensure that all income was appropriately recognised in the correct period and any restrictions appropriately recognised. 

- performed substantive testing for a sample of transactions from grant applications to approval records and subsequent payment to ensure that all labilities were recognised in the correct period and the correct recipient paid. 

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

- we agreed the financial statement disclosures to underlying supporting documentation; 

- we read the minutes of meetings of those charged with governance; 

- we discussed with _management_ actual and potential litigation and claims; 

- we reviewed any correspondence with HMRC, relevant regulators such as the Charity Commission and the charity’s legal advisors (where applicable). 

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. 

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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**<br>**INCOME**<br>**FROM:**<br>Donations<br>4<br>**TOTAL**<br>**INCOME**<br>**EXPENDITURE**<br>**ON:**<br>Charitable<br>activities:<br> 5<br>**TOTAL EXPENDITURE**<br>**Net**<br>**Income/(Expe**<br>**nditure)**<br>**Restricted**<br>**transfer**<br>**Net Movement**<br>**in funds**<br>**RECONCILIATI**<br>**ON OF FUNDS:**<br>Total funds<br>brought<br>forward<br>Net<br>movements in<br>funds for the<br>year<br>Total funds<br>carried forward|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2025  Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>4,639,528<br>-<br>4,639,528<br>4,307,869<br>-<br>4,307,869|
|---|---|
||**4,639,528**<br>**-**<br>**4,639,528**<br>**4,307,869**<br>**-**<br>**4,307,869**|
||4,634,470<br>-<br>4,634,470<br>4,667,655<br>-<br>4,667,655|
||**4,634,470**<br>**-  4,634,470**<br>**4,667,655**<br>**-**<br>**4,667,655**|
||5,058<br>-<br>5,058<br>(359,786)<br>-<br>(359,786)<br>-<br>-<br>-<br>-<br>-|
||**5,058**<br>**-**<br>**5,058**<br>**(359,786)**<br>**-**<br>**(359,786)**|
||4,945,598<br>6,464<br>4,952,062<br>5,305,384<br>6,464<br>5,311,848<br>5,058<br>-<br>5,058<br>(359,786)<br>-<br>(359,786)|
||**4,950,656**<br>**6,464**<br>**4,957,120**<br>**4,945,598**<br>**6,464**<br>**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**<br>**Fixed Assets**<br>Investments<br>8<br>**Current Assets**<br>Debtors<br>9<br>Cash at bank and in<br>hand<br>**Current Liabilities**<br>Creditors: amounts<br>falling due within one<br>year<br>10<br>**Net Current**<br>**Assets/(Liabilities)**<br>**Net**<br>**Assets/(Liabilities)**<br>**Funds**<br>Unrestricted funds:<br>General funds<br>11<br>Restricted funds:<br>General funds<br>11<br>**Total Funds**<br>**11**|**Group**<br>**Charity**<br>**Group**<br>**Charity**<br>**31**<br>**December**<br>**2025**<br>**£**<br>**31**<br>**December**<br>**2025**<br>**£**<br>**31 December**<br>**2024**<br>**£**<br>**31 December**<br>**2024**<br>**£**<br>-<br>1<br>-<br>1<br>4,540,056<br>4,540,056<br>4,221,855<br>4,221,855<br>1,619,885<br>1,619,885                875,871<br>875,871<br>(1,202,821)<br>(1,202,822)<br>(145,664)<br>(145,665)|
|---|---|
||**4,957,120**<br>**4,957,119**<br>**4,952,062**<br>**4,952,061**|
||**4,957,120**<br>**4,957,120**<br>**4,952,062**<br>**4,952,062**|
||4,950,656<br>4,950,656<br>4,945,598<br>4,945,598<br>6,464<br>6,464<br>6,464<br>6,464|
||**4,957,120**<br>**4,957,120**<br>**4,952,062**<br>**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**<br>Operating cash flow before movement in working capital<br>(Increase)/decrease in Debtors<br>Increase/(decrease) in Creditors<br>**Net Cash Inflow/(Outflow) from operating activities**<br>**Cash flows from investing activities**<br>**Cash flows from financing activities**<br>**Net decrease in cash and cash equivalents**<br>**Cash and cash equivalents at beginning of the year**<br>**Cash and cash equivalents at the end of the year**<br>**Reconciliation to cash at bank and in hand:**<br>**Cash at bank and in hand**<br>**Cash and cash equivalents**|**2025**<br>£<br>**2024**<br>£<br>5,058<br>(359,786)|
|---|---|
||5,058<br>(359,786)<br>(318,201)<br>455,361<br>1,057,157<br>(129,061)|
||**744,014**<br>**(33,486)**<br>-<br>-<br>-<br>-|
||**744,014**<br>**(33,486)**<br>875,871<br>909,357|
||**1,619,885**<br>**875,871**<br>**1,619,885**<br>**875,871**|
||**1,619,885**<br>**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**<br>**£**|**31st December 2024**<br>**£**|
|---|---|---|
|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<br>entities<br> <br>Donated services|**2025**<br>**£**<br>4,555,351<br>84,177<br>4,639,528|**2024**<br>**£**<br>4,206,295<br>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**<br>**institutions**<br>Disaster<br>Relief<br>Support<br>grants to<br>charitable<br>organisations<br>and projects<br>**Restricted**<br>**Grant**<br>FX<br>Bank Charges<br>Bank Interest<br>Legal fees<br>Audit fees<br>Support<br>services|**Unrestric**<br>**ted**<br>**Grants**<br>**£**<br>270,000<br>4,235,087<br>-<br>17,833<br>1,700<br>-<br>207<br>23,970<br>85,673<br>4,634,470|**Restri**<br>**cted**<br>**Grant**<br>**s**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**2025**<br>**£**<br>270,000<br>4,235,087<br>-<br>17,833<br>1,700<br>-<br>207<br>23,970<br>85,673<br>4,634,470|**Unrestric**<br>**ted**<br>**Grants**<br>**£**<br>270,000<br>4,278,529<br>-<br>198<br>2,226<br>-<br>19,436<br>22,138<br>75,128<br>4,667,655|**Restri**<br>**cted**<br>**Grant**<br>**s**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**2024**<br>**£**<br>270,000<br>4,278,529<br>-<br>198<br>2,226<br>-<br>19,436<br>22,138<br>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|-|<br>2,000|
|---|---|---|
|Whitefield Academy Inc|-|<br>1,590|
|Willow International (Everfree)|-|<br>16,000|
|Youth Of Maitland|-|<br>1,500|
|Zero plastic|-|<br>20,000|
|YMCA|-|<br>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**<br>**number**|**Holding**||**d in**<br>**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|-|-|<br>|-|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.**<br>**CREDITORS**<br>**Group:**<br>**Amounts falling due within one year:**<br>Grant commitments<br>Creditor: Audit fee accrual<br>Creditor: Others<br> <br>**Charity:**<br>**Amounts falling due within one year:**<br>Grant commitments<br>Creditor: Audit fee accrual<br>Creditor: Others<br>Creditor: Amount due to subsidiary<br> <br>**Amounts falling due within one year:**<br>Debtor: Amount due from Subsidiary<br>Amounts due from fellow group undertakings<br>Debtors: Amount due from third-parties<br>||**2025**<br>**£**<br>(1,172,263)<br>(23,970)<br>(6,588)<br>(1,202,821)<br>**2025**<br>**£**<br>(1,172,263)<br>(23,970)<br>(6,588)<br>(1)<br>(1,202,822)<br>**2025**<br>**£**<br> <br>-<br>4,527,545<br>12,511<br>4,540,056||**2024**<br>**£**<br>(121,734)<br>(21,480)<br>(2,450)<br>**2024**<br>**£**<br>-<br>4,221,855<br>-<br>4,221,855|
|---|---|---|---|---|
||||||
|||<br>|<br>||
|||||(145,664)|
|||||**2024**<br>**£**<br>(121,734)<br>(21,480)<br>(2,450)<br>(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**<br>General fund<br>**Unrestricted fund total**<br>**Restricted fund**<br>General fund<br>**Restricted fund total**<br>**Total Group funds**<br>**Charity:**<br>**Unrestricted funds**<br>General fund<br>**Unrestricted fund total**<br>**Restricted fund**<br>General fund<br>**Restricted fund total**<br>**Total Group funds**|**As at 1**<br>**January**<br>**2025**<br>**£**<br>4,945,598<br>4,945,598<br>6,464<br>6,464<br>4,952,062<br>**As at 1**<br>**January**<br>**2025**<br>**£**<br>4,945,598<br>4,945,598<br>6,464<br>6,464<br>4,952,062|**Income**<br>**£**<br>4,639,528<br>4,639,528<br>-<br>-<br>4,639,528<br>**Income**<br>**£**<br>4,639,528<br>4,639,528<br>-<br>-<br>4,639,528|**Expenditur**<br>**e**<br>**(including**<br>**taxation)**<br>**£**<br>4,634,470<br>4,634,470<br>-<br>-<br>4,634,470<br>**Expenditur**<br>**e**<br>**(including**<br>**taxation)**<br>**£**<br>4,634,470<br>4,634,470<br>-<br>-<br>4,634,470|**As at 31**<br>**Decemb**<br>**er 2025**<br>**£**<br>4,950,656|
|---|---|---|---|---|
|||||4,950,656|
|||||6,464|
|||||6,464|
|||||4,957,120|
|||||**As at 31**<br>**December**<br>**2025**<br>**£**<br>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**<br>General fund<br>**Unrestricted fund total**<br>**Restricted fund**<br>General fund<br>**Restricted fund total**<br>**Total Group funds**<br>**Charity:**<br>**Unrestricted funds**<br>General fund<br>**Unrestricted fund total**<br>**Restricted fund**<br>General fund<br>**Restricted fund total**<br>**Total Group funds**|**As at 1**<br>**January**<br>**2024**<br>**£**<br>5,305,384<br>5,305,384<br>6,464<br>6,464<br>5,311,848<br>**As at 1**<br>**January**<br>**2024**<br>**£**<br>5,305,384<br>5,305,384<br>6,464<br>6,464<br>5,311,848||**Income**<br>**£**<br>4,307,869<br>4,307,869<br>-<br>-<br>4,307,869<br>**Income**<br>**£**<br>4,307,869<br>4,307,869<br>-<br>-<br>4,307,869||**Expenditur**<br>**e**<br>**(including**<br>**taxation)**<br>**£**<br>4,667,655<br>4,667,655<br>-<br>-<br>4,667,655<br>**Expenditur**<br>**e**<br>**(including**<br>**taxation)**<br>**£**<br>4,667,655<br>4,667,655<br>-<br>-<br>4,667,655|**As at 31**<br>**Decemb**<br>**er 2024**<br>**£**<br>4,945,598|
|---|---|---|---|---|---|---|
|||||||4,945,598|
|||||||6,464|
|||||||6,464|
|||||||4,952,062|
|||||||**As at 31**<br>**December**<br>**2024**<br>**£**<br>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<br>|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**<br>**£**|**2024**<br>**£**|
|---|---|---|
|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