Charity reeistrntion number 1205976 IEngland and Walesl THE GRANTTHORNTON FOUNDATION CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
THE GRANTTHORNTON FOUNDATION CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees K Carnpbell F BeiKhton K Coates PRao L Drury J Barnett Charity number 1205976 è8lstered offlce 8 Finsbury Circus London EC2M 7AZ Indepèndent txamlnèr Mitchell Charlesworth IAuditl Limited 3rd Floor 44 Peter Street Manchester M2 5GP Bankers Barclays Bank UK PLC I Churchill Place London E14 SHP
THE GRANTTHORNTON FOUNDATION CIO CONTENTS Pa8e Trustees, report Independent eKaminer'5 report Statement of financial activities Balance sheet Ntstes to thè financial statements 7-13
THE GRANTTHORNTON FOUNDATION CIO TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 The Trustees preseni their annual feport and financial sMements for the year ended 31 March 2026. The financial statements have been ppared in accordènce with the accountin8 policies set out in note I to the financial statement5 and comply with the charity'5 governing document. the Charitie5 Act 2011 and "Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Oblecllves and a¢tlvltle5 The Grant Thornton Foundation I'the Foundation'l 15 a charrty dedicated to making a positive irnpact on our communities through strategic funding and support ol charities. It is a tangible demonstration of the Foyndation's values, our dedication to social impact and our commitment to creatin£ a better future for all. The Foundatlon has four objettives.. To promote social inclusion for the public benefit by preventin8 people from becoming socially excluded To promote opponunities lor the development, education and support of young people To advance education To prevent or relSeve povertv Publit benefit The Trustees have pald due re8ard to 8uidance issued by the Charity Commission in declding what actlvities the charity should undertake. Activities The main activity of the Foundation is to provide financlal support to varyin8 chariiies that align with our objectlves. We also work with Grani Thornion UK, providing volunieering opportunities for Grant Thornton UK employees to support our charlty partners. Achlevements and performance Significontoctivities ond ochievernents ogoinst objectives In the year ended 31 March 2026, The Foundation awarded £143,717 In grants to the following six UK-based charlties.. Magic Breakfast lunrestrictedl.. The mission ol Magic 8reaktsst is to ensu thai no youn8 person in the UK starts the day to hungry to learn. This year. our donation helped Magic Breakfast deliver 100.000 breakfasts tts children acr05S the UK equivalent to 1.578,706 bagels, S,367.601 slices of toast. or 2,982.000 bow15 01 cereal. Colleagues from Grant Thornton UK in Glasgow joined St Martins Primary School in December 2025 for Magic Breakfast's Magic Makers winter event, unveilin8 8ifts of outdoor play and learnin8 equipment to spark imagination, build teamwork, and support thSldren's physical development. The Btyree Centre luThrellnctedl.. The Bayt Centre is an e(lucational charity based in Brixton, South London. They provide networks and opportunitie5 to ernpower women and girls to build 5ki115. and a sale space to gain the confidence and wisdom they need to thrive in life, work and famity. Our grant funded employability prograrnmes for 149 girls. delivering 256 sessions across $75 hours of dedicated activity. More than 90% of participants reported improvements in academic engagement. employability skills. life skills and connection within their communities- remarkable testament to the programme's 3¢h and inlluence. Futu First lunrestrictedl.. Future First is a s(Kial mobility chaiity on a mission for every UK state schoo1 and College to be sUPPOrted by a thriving and engaged cornrnunity of alumni and relatable role rnodels. Our donation continue5 to fund school partnership5 or career insight days across Manchester. Bristol. Glasgow, Sheffield. and London. The increased donation will also be used to expand Future First's Stepping Stones programme. an initiative designed to bring meaningful. early work experience to students from Year B onwards.
THE GRANTTHORNTON FOUNDATION CIO TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Speakers Trust lunrestrittedl.. Speakers Trust is a chaiity who WOTk with over 6LK) secondary schools across the UK, delivering high quality public speaking workshop5 to students. ernpowering them to becotne skilled public 5peaker5. Our latest grant will help bring "My Maiden Speech North~ to life. expanding the success of the original programrne to the North of England. It will bring together businesses. charitie5. public figures and student5, amplifying young voices in a region brimming with potential. akt (formerly Albert Kennedy Trust) lunrestrictedl.. akt works to ensure that every LGBTQ+ I25-year-Old facing homelessness or a hostile Ilvirng environment in the UK has a saFe place to live. Much of akt's work Is focused on casework with youn8 people facing homelessness. understanding their unique position and how their identity informs their circumstances. Since our grant wa5 provided. caseworkers have provided support to 753 LGBTQ+ young people who are facing hornele55ness. of whom 188 went on to secure accommodation. Insplration tor All lunre5trictedl.' The charity brings schools and business together to lift-up leader5, schools and students in turn. We made our grant in October 2025 which has allowed seven mentor pairings between school leaders and Grant Thornton UK partners to be funded. Those mentorship pairings be8an their journey in late February 2026. based in both Leeds and London auoss primary, secondary and sixth form college settings. These partnerships reflect the Foundation's tommitment to impactful giving and Creating meaningful volunteerlng opportunitie5 lor Grant Thornton UK colleagues. The Foundation a150 made additional 8rant5 and payrnents to a number of other charities. including the first grants made to harities supported by Grant ThorThtgn UK offices across the country. These were.. Social Mobllity Foundation Amos 8ursarv One Mllllon Mentors Access Accountancy Refuwee8ee The Wallich Workin8 Families LGBT Healthy Livin8 Social Bite Plans for the Future The nexr 12 months will be focused on deepenin8 the impatt wilh our six primary charity panners, making further 8rants where possible, scaling existing programmes and pioneerin8 new and excitin8 projects that could transform the lives of the most underserved in 50cietv. We will a150 Continue to onboard charity relationships tied to each Grant Thornton UK loution acr055 the UK. ensuring local support for organisatioThs working to promote social inclusion and break down barriers to education and employment.
THE GRANTTHORNTON FOUNDATION CIO TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Financial review For the year ended 31 March 2026. the Foundation received iotsl donations (including Gift Aid) of £361,917. In addition, bank interest of £2,301 was received. No other inc(*ne was recorded durin8 the period. Grants and payments totalling E196,868 were awarded to charitable causes. The Trustees provided their services voluntarily, and administrative support Wa5 funded by Grant Thornton UK ai no cost to the Fovndètion. The net surplus of inctsrne over expenditure lor the period was £162.4M5. This amount has been added to reserves and will be used to support grant-making activitie5 in the year ending 31 March 2027. Reserves policy The Foundation doe5 not cornrnit to making repeat Bfdnt5 to its charity partner5 and the Tru5tee5 consider that the target for unrestricted re5erve5, after arny designations. should be approximately E20,OCKI, to cover a year's worth of operational costs and the reasonable professional services costs associated with a winding down of the Foundation. This level of reserves has been maintained throughout the period. Structurè, govtrnantt and management The charity is a reElStered charitable incorporated oreanisation in En8land & Wales. The Trustees who served during the year and up to the date of signature of the financial statements were.. N Morrison (Resigned 31 December 20251 K Campbell F Bei8hton K Coates PRao L Drurv J Barnett Recruitment t7ndappointment of Trustees Tru5tee5 of the Foundation serve a three-year term. Appointments to the Trustee Board are rnade and ratified by the Trustee Advi50ry Group ITAGI, which cornprises a number gf partners from Grant Thornton UK. including rnembers of the firm's Strategic Leadership Team. In selecting new Trustees, the TAG considers the skills. knowledge. and experience required for the effective administratlon of the Foundation. Members of TAG also serve as ihe members of the Charitable Incorporated Organisation ICIOI. The Trustees are supported In the adminlstraiive runnln8 01 the Foundatlon by SourCe provlded by Grant Thornton UK. The Trustees, report was approved bythe Board of Trustees. cry L Drury Trustee 0710812026 Date:.............................................
THE GRANTTHORNTON FOUNDATION CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRANT THORNTON FOUNDATION CIO I report to the Trustees on my examination of the linancial statement5 of The Grant Thornton Foundation CIO (the charity) for the year ended 31 March 2026. Responslbllltles and basls of report As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Oirections 8iven by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner's statement Since the charity's gross income exceeded £250.c¥Jo, Ihe independent examiner must be a member of a body listed In sectlon 145 01 the Charities Act 2011. 1 confirm that l arn qualified to undertake the examination because l am a member ol the Institute ol Chartered Accountants of Scotland. which is one of the listed bodies. Your attention is drawn to the fact that the charity has wepared the financial statements in attordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial staternents in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2(M)S which is referred to in the extant regulations but has now been withdrawn. l understand thai this has been done in order for the financial statements to provlde a true and fair view in accordance with UK Generally Accepted Accounting Practiee. I have completed my examination. I confirm that no matters have come to my attention in connection wlth the examlnatlon 8ivln8 me cause to believe that in any material respeu.. accounting records were not kept in respect of the charity as required by sertion 130 of the Charities Act 2011. the financial staternents do not accord with those record5.' or the financial statements do not comply with the applicable requirements toncernin8 the form and content of financial statements set out in the Charities IAccounts and Reports) Re8ulations 2(1)8 other than any requirement that the financial staternents give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have ctsme across no other matters in eonnettion with the examination tts which attentitsn should be drawn in this report in order to enable a proper understanding of the financial statement5 to be reached. lamielee Johnston CA For and on beh31f of Mitchell Charle5WOrth (Audit? Limited 3rd Floor 44 Peter Street Manchester M2 5GP Dated.. 0710812026
THE GRANTTHORNTON FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2026 Unrestricted fund5 2026 Unre5tricled funds 202S Notes Income from: Donations 361,917 2.301 202,087 535 Investments Totsl In¢ome 364,218 202,622 Empendlture on: 201.773 79,720 Totsl expendlture 201,773 79,720 Net Incoffle and rnovernent In funds 162,445 122,902 R•tonclllatltsn of lunds: Fund balances èt l April 2025 122,902 Fund balances al 31 March 2026 285,347 122,902 The statement of finaniial activities includes all 8ains and losses reco8nised in the year. All income and expenditure derive from continuin8 activities.
THE GRANTTHORNTON FOUNDATION CIO BALANCE SHEET AS AT 31 MARCH 2026 2026 2025 Notes Current assets Debtor5 Cash at bank and in hand li 3.218 313,048 1,496 125,066 316,266 130,9191 126.562 13.6601 Creditors: amounts falling due within one year 12 Net current assets 285,347 122,902 The funds of the eharlty Unrestricted funds 13 285.347 122.902 285,347 122,902 The charlty is entitled to the exempiion from the audit requirement Contained in section 477 of the Companies Aci 2006, for the year ended 31 March 2026. The financial statements were approved by ihe Trustees on. 0710812026 L Drury Trusie•
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accounting policie5 Charity information The Grant Thornton FOndatIOn CIO is a registered charitable incorporated organi5ation in England & Wales. The registered office address is 8 Finsbury Circus. London. EC2M 7AZ 1.1 Basi5 of preparation The financial statements have been prepared in accordance with ihe charity'$ 8o¥ernin8 document, the Charities Act 2011, FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland- I"FRS 102,1 and the Charities SORP "Accountin8 and Reportln8 by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. The charrty is a Public Benefit Entity as defined by FRS 102. The charity has taken advanta8e of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities IAccount5 and Reports) Regulation5 2QK18 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Re8ulations but which has since been withdrawn. The financial statements are prepared in sterlin8, which is the functional currency ol the charity. Monetary amounts in these financi315tatements are rounded to the nearest £. The financial statements have been preparÈd under the historical cost convention. The principal accounting policie5 adopted are set out below. 1.2 Goln8 concern At the time ol approving the finan<ial statemènts. thè Trusteès have a rèasonablè expectation that the tharity has adequate resources to continue in operational existence lor the foreseeable future. Thus the Trustees continue to adopt the 80in8 concern basis of accountin8 in preparin8 ihe financial statements. 1.3 Charltable funds Unrestritted funds are avallable lor use at ihe discretion of the Trustees In furtherance ol thelr charitable oblectives. 1.4 Income Incorne 15 recogni5ed when thè tharity is legally entitled to it after any performante tonditions have been met, the amounts can be rneasured reliably. and it is probable that income will be received. Cash donations are recognised on ieceipt. oiher donations a re¢o8nised once the Charity has been notified of the donation, unle55 performance cornditions require deferrdl of the amount. Income tax recoverable in relation to donations received under Gift Aid or deed5 of covenant is recognised at the time of the donation. 1.5 Expendlture Expenditure is recognised once there is a legal or constritclive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in 5ettletnent. and the amount of the obligation can be rnea5ured reliably. Expenditure is classified by activity- The costs of each activity are made up of the total of direct costs and shared cost5, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are alloc3ted directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attiibutable to a single activity are apportioned between those activitie5 on a basis c0Tr51Stent with the use of re50urce5.
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 A¢tountln8 poll¢les Icontlnuedl 1.6 Cash and Cash e4uivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts a shown within borrowings in 1.7 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Flnanclal Instruments Issues. ol FRS 102 to all ol its financial instruments. Financial instruments are recognised in the charity'5 balance sheet when the charity becomes party to the contractual provisions ol the instrument. Flnancial assets and liabilities are offset, with the net amounts psented in the financial statements, when there is a leBally enforceable right to set off the recognised amount5 and there 15 an intention to settle on a net basis or to realise the asset and settle the liability simultaneou5ty. 8uslcflnonclul ossets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction prlce including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transartion. where the transaction is measured at the present value of the future receipt5 distounted at a market rate of interest. Finantial assets tlassified as receivable within onè year are not amortised. 8uslcfinonclul Ilobllltles 8asic financial liabilities, including creditors and bank loans a initially reco8nised at transaction price unless the arrangement constitutes a financin8 transattion, where the debt insirument is measured at the present value of the future payments dlscounted at a market rate of Interesi. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. usin8 the effective interest rate method. Trade creditors are obli8ations to pay for 8oods or services that have been acquired in the ordinary course of operations frorn suppliers. Arnounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilitie5. Trade creditors are recognised initially at transaction price and subsequently rneasured at amortlsed c95t Using the efferti¥e interest method. Derecoqnltlon oAAlnoIoI IlqbllAtI Flnancial liabilities are derecognised when the chariws contrattual obli8ations expl or a discharged or cancelled. Income frorn donations and leyciès Unrestrlcted funds Unrestrlcted funds 2026 2025 Donations and gifts 361.917 202,087
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income frorn investments Unrestrirted funds Unrestricted funds 2026 2025 Interest receivable 2.301 535 Expenditure on charitable activities Grant fundlng Grant lundln8 of artItIes of actlvltle5 Z026 2025 OlrKt costs Donations Bank chargès Subscrlptlons 9.533 159 9,8CK) Grant funding of activities IS notè 51 187,335 74,500 Share of support and 8o¥ern¥nce costs lsee note 61 Governance 4,638 5,220 201,773 79,720 Analysls by fvnd Unrestricted funds 201,773 79,720
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Grarts payable Grant fundln8 Grant fundln8 of activlties of actlvltles 2026 2025 Grant5 to institutions.. Magic Breakfast Baytree Ceritre Speakers Trust Future First Inspiration for All albert kennedy trust Ma8ic Makers IMM Amos Bursary Access Accountancy Social Mobility Foundation 28,OlXI 30,LILKI 25,0(Y) 25,160 15,120 20,0 437 io,othJ iO,O(K) 3,618 20,0 20,000 20,000 15,000 19,500 187,335 74,500 Support costs allocated to actfvltles 2026 2025 Governance costs 4.638 5,220 Analy5ed betweèn: Grant funding of artivities 4.638 5,220 2026 2025 Governance costs ¢omprlse: Accountancy and independent examination fees 4.638 5.220 4,638 5,220 Net movement in funds 2026 2025 The net movement in funds is stated after char8in8llcreditin81.. Fee5 payable to the charity'5 independent examiner.. for the independent examinalion of the charity'5 financial Statements for other financial services 3,300 1,920 1,098
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Trustees None of the Trustees lor any persons connected with them) received ary remuneration or benefits from the charity during the year.
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Ernployees There were no employees during the year. 10 Taxatlon The charity 15 exernpt from taxation on its aclivitie5 because all its income is applied for charitable purposes. li Debtors 2026 2025 Amounts fallln8 due wlthln one year. Other debtors Prepayments and accrued income 2.891 327 1,496 3,218 1,496 12 CrÈdlttsrs: afflounts fallln8 duè w6thln one year 2026 2025 Trade creditors Accruals and deferred incomt 360 30,559 180 3,480 30,919 3,660 13 Unrestricted fund5 The unrestricted funds ol the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and 8rantors as to how they may be used. At l Aprfl 2025 In¢omlnB rtsourcts Resources expended At 31 March 2026 General funds 122.902 364,218 1201.7731 285,347 Previous period: At l April 2024 Incoming resour¢es Resources expended At 31 March Z025 General funds 202,622 179,7201 122,902
THE GRANTTHORNTON FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 14 Related party transartion5 During the year, the Trustees made donations to the charity totalling £4.43712025.. £6.1001. These donations were made voluntarily and withOt any conditions attached. Also, during the year, the charity received donations totallin£ E144.11812025.. £102,000) from Grant Thornton UK, an organisation frorn which the charity received key management personnel services. In addition. Grant Thornton UK, paid £nil1202S.. £1.5601 in cost5 on behalf of the charity which have been classified as an additional donation. The charity's policy is to disclose all lated party transactions, includin8 Trustees. donations, in accordance with the Charities SORP IFRS 1021.