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2024-03-31-accounts

THE�ALLEN�LANE�FOUNDATION

TRUSTEES'�REPORT�AND�FINANCIAL�STATEMENTS FOR�THE�YEAR�ENDED�31�MARCH�2024

Charity�Number:�248031

HPH� Chartered�Accountants 54�Bootham� YORK� YO30�7XZ

THE�ALLEN�LANE�FOUNDATION

TRUSTEES'�REPORT�AND�FINANCIAL�STATEMENTS FOR�THE�YEAR�ENDED�31�MARCH�2024

Contents Page
Referenceandadministrativedetails 1
Trustees'AnnualReport 2�9
IndependentAuditor'sReport 10�13
StatementofFinancialActivities 14
BalanceSheet 15
StatementofCashFlows 16
NotestotheFinancialStatements 17�32

THE�ALLEN�LANE�FOUNDATION

REFERENCE�AND�ADMINISTRATIVE�DETAILS FOR�THE�YEAR�ENDED�31�MARCH�2024

Trustees: FredricaTeale,Chair
MauriceFrankel
MichaelFirth
ClaireHitchcock
ZoeTeale
PhilipWalsh
AmberleyCarter(appointed8November2023)
ClaraMulcare(appointed28June2023)
JustineCadbury(resigned8November2023)
Charityregisterednumber: 248031
PrincipalAddress: 90TheMount
YORK
YO241AR
E�mailaddress: info@allenlane.org.uk
Website: www.allenlane.org.uk
Staff: TimCutts,ExecutiveSecretary
GillAconley,GrantsOfficer
Bank: Co�operativeBankPLC
62�64SouthamptonRow
LONDON
WC184ND
InvestmentManagers: CanaccordGenuityGroupInc
88WoodStreet
LONDON
EC2V7QR
Auditor: HPH,CharteredAccountants
54Bootham
YORK
YO307XZ

1

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

The�Trustees�present�their�annual�report�together�with�the�audited�financial�statements�of�The� Allen�Lane�Foundation�(the�charity)�for�the�year�ended�31�March�2024.�

The�financial�statements�have�been�prepared�in�accordance�with�the�accounting�policies�set�out�in� notes�to�the�accounts�and�comply�with�the�charity’s�governing�document,�the�Charities�Act�2011� and�Accounting�and�Reporting�by�Charities:�Statement�of�Recommended�Practice�applicable�to� charities�preparing�their�accounts�in�accordance�with�the�Financial�Reporting�Standard�applicable�in� the�UK�and�Republic�or�Ireland�(FRS�102)�(effective�1�January�2019)���(Charites�SORP�(FRS�102)),�the� Financial�Reporting�Standard�applicable�in�the�UK�and�Republic�of�Ireland�(FRS�102).�

Objectives�and�Activities�

Objectives�and�Public�Benefit�Statement�

The�Trust�Deed�states�that�the�Foundation�may�make�grants�for�'general�charitable�purposes'.�This� gives�the�Trustees�considerable�latitude�to�decide�on�priorities.�The�Trustees�currently�choose�to� fund�work�which:�

The�Foundation�has�identified�specific�groups�of�people�it�believes�are�vulnerable,�isolated,�and� unpopular�within�the�communities�through�which�support�can�meet�those�objectives.�The� Foundation�is�interested�in�funding�work�which�benefits�people�in�the�following�groups,�or� generalist�work�which�includes�significant�numbers�from�more�than�one�such�group:�

As�the�Foundation's�resources�are�limited,�it�generally�funds�smaller�organisations�where�small� grants�can�have�more�impact.�Grants�are�awarded�to�registered�charities�and�organisations�with� automatic�charitable�status.�Grants�are�also�awarded�to�constituted�groups�with�charitable� purposes�and�newer�forms�of�organisations�such�as�Community�Interest�Companies�(CIC).�It� currently�makes�grants�in�the�UK,�but�does�not�make�grants�for�work�in�Greater�London�as�it�feels� there�are�other�significant�grant�makers�covering�the�capital.�While�recognising�(and�being�willing� to�support)�on�going,�tried�and�tested�projects,�the�Foundation�is�particularly�interested�in�unusual,� imaginative�or�pioneering�projects�which�have�not�yet�caught�the�public�imagination.�

2

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

The�Trustees�confirm�that�they�have�referred�to�the�guidance�contained�in�the�Charity� Commission’s�general�guidance�on�public�benefit�when�reviewing�the�Foundation’s�aims�and� objectives�and�in�planning�future�activities�and�setting�grant�making�policies.�

The�Foundation�provides�funding�to�organisations�which�demonstrate�charitable�purpose.�Funding� provided�enables�the�causes�supported�to�provide�benefits�to�the�public�within�those�organisation’s� specific�aims�and�objectives.�This�is�consistent�within�the�aims�of�the�Foundation.�Where�the�grant� is�made�to�a�registered�charity,�the�Trustees�are�confident�that�the�grant�has�been�made�to�further� a�charitable�purpose�to�the�public�benefit.�Where�grants�are�made�to�other�organisations�the� Trustees�consider�carefully�how�the�funds�will�be�used�and�make�those�grants�with�conditions�to� ensure�that�they�are�spent�appropriately�and�for�charitable�purposes.�In�all�cases�the�Trustees�seek� feedback�on�the�actual�use�of�the�grants�given,�and�the�achievements�made,�so�that�they�know�how� funds�were�used�in�practice.�

The�explanations�and�feedback�on�the�grants�made�are�believed�to�be�sufficient�for�monitoring�the� quality�of�those�grants�and�appropriateness�of�the�size�of�the�grant�made.�In�grant�making�there�is� always�a�necessary�degree�of�trust�that�the�applicant�is�honest�and�will�use�the�funds�wisely.�

Achievements�and�Performance�

Key�financial�performance�indicators�

In�the�year�to�31�March�2024,�the�Foundation's�income�increased�to�£706,412�from�£676,726.� Expenditure�during�the�year�decreased�to�£964,892�from�£993,129.�This�resulted�in�net�expenditure� being�£257,730,�a�fall�from�£316,403�in�the�previous�year.�Once�net�gains�on�investments�of� £1,958,437�are�taken�into�account,�the�overall�net�movement�in�funds�was�a�surplus�of�£1,700,707.� The�total�funds�available�at�the�end�of�the�year�were�£22,156,026.�

Overall,�the�Foundation’s�portfolio�performed�reasonably�well�over�the�year,�although�it�was� affected�by�a�turbulence�throughout�the�year�by�a�combination�of�the�on�going�invasion�of�Ukraine� by�Russia,�the�conflict�in�Gaza,�high�inflation,�and�the�continued�cost�of�living�pressures�which�have� all�had�an�impact�on�the�global�markets.�Despite�this,�income�from�the�portfolio�has�continued�to� improve.�It�is�expected�that�the�income�due�in�2024/25�will�remain�steady.���

The�Trustees�continued�to�have�consideration�on�the�wider�concerns�around�Socially�Responsible� investing.�The�Foundation's�investment�managers�provide�regular�updates�on�the�position�of�the� portfolio�as�it�measures�against�Environmental,�Social�and�Governance�(ESG)�and�Sustainability� ratings.�

The�Foundation�has�evolved�its�benchmarking�to�take�into�account�the�portfolio�has�more� international�equities�and�incorporated�certain�ethical�considerations�(the�exclusion�of�mining�and� tobacco�companies,�for�example).�The�benchmark�follows�the�Morningstar�GBP�Allocation�60�80%� Equity,�which�is�a�selected�peer�group.�This�is�an�externally�monitored�group�of�institutional�funds� equivalent�to�the�asset�allocation�to�the�portfolio’s�risk�profile�benchmark.�

3

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

The�portfolio’s�overweight�position�in�the�UK�equity�market�(relative�to�the�peer�group)�proved� beneficial�during�the�period�as�global�equities�lagged,�while�the�positioning�in�shorter�dated�fixed� interest�securities�provided�some�mitigation�against�the�falls�seen�across�the�broader�bond�market.� The�Trustees�continue�to�believe�the�portfolio�is�balanced,�diversified,�and�well�positioned�to� deliver�long�term�capital�and�income�growth.�

The�Trustees�would�like�to�thank�their�investment�management�team�at�Canaccord�Genuity�UK�for� their�hard�work�and�diligence�during�the�year.��

Grants��

In�2023/24,�the�Foundation�committed�to�146�new�grants�(2022/23�142�grants).�The�total�value�of� grants�committed�was�£736,729,�which�was�lower�than�last�year’s�figure�of�£767,231.�45�grants� (31%)�were�offered�to�organisations�previously�funded�by�the�Foundation,�which�was�similar�to�the� previous�year.�101�grants�(69%)�were�offered�to�organisations�who�had�not�previously�applied�to� the�Foundation,�and�11�grants�were�made�to�organisations�who�had�previously�been�refused.�Most� of�the�grants�offered�(124)�were�single�grants,�with�22�grants�over�two�years.�There�were�no�grants� over�three�years.��

From�a�total�of�535�(482�last�year)�applications�made�to�the�Foundation�during�the�year,�(389)�were� refused,�resulting�in�an�overall�success�rate�of�27%,�which�was�lower�than�in�the�year�before�(29%).�� For�most�applications�that�were�eligible,�and�focused�on�just�one�beneficiary�group,�the�success�rate� increased�to�between�30%�and�47%.�There�were�two�exceptions�to�this,�the�success�rate�under� Mental�Health�was�only�14%�against�139�applications�and�under�Young�People�it�was�23%�against� 130�applications.�Many�Mental�Health�applications�were�focused�on�wellbeing�support�around�low� level�mental�health�issues,�whereas�the�Foundation�has�a�focus�on�supporting�applications�for� moderate�to�high�level�mental�health�conditions.�For�Young�people�applications,�the�reasons�were� more�varied�but�included�targeting�the�wrong�age�group�to�a�poor�fit�to�the�stated�criteria.�The�table� below�shows�the�overall�value�and�number�of�grants�across�the�priorities.�

Value�and�number�of�grants�funded,�and�refused,�by�funding�programme�

FundingProgramme Amount
funded		 Grants
made		 Average
grant		 Total
apps		 Turned
down		 Success
rate
YoungPeople £162,344 30 £5,411 130 100 23%
Olderpeople £147,299 39 £3,777 107 68 36%
Violenceorabuse £115,743 18 £6,431 44 26 41%
Asylumseekers/refugees £109,656 20 £5,483 67 47 30%
Offenders&ex�offenders £101,092 16 £6,318 34 18 47%
Mentalhealth £80,095 20 £4,005 139 119 14%
Gypsies&Travellers £20,500 3 £6,833 8 5 37%
Specific/other £0 0 £0 6 6 0%

4

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT�

FOR�THE�YEAR�ENDED�31�MARCH�2024�

The�next�table�below�shows�the�geographical�spread�of�grants�made�during�the�year.�

Value�and�number�of�grants�funded,�and�success�rate,�by�geographical�area

Area Amount
funded		 Grants
made		 Average
grant		 Successrate
SouthWest £107,021 22 £4,865 34%
NorthWest £106,850 22 £4,857 32%
SouthEast £93,232 19 £4,907 20%
National £91,780 14 £6,556 23%
Scotland £64,003 11 £5,818 33%
NorthEast £48,900 8 £6,113 28%
WestMidlands £47,496 12 £3,958 24%
EastMidlands £43,195 7 £6,171 28%
EastAnglia £41,500 9 £4,611 27%
Yorks&Humberside £36,500 8 £4,563 22%
CentralSouth £28,631 7 £4,090 54%
NorthernIreland £17,000 4 £4,250 33%
Wales £10,621 3 £3,540 18%

The�final�table�below�gives�a�comparison�over�the�last�ten�years�of�the�level�of�grants�awarded�by� the�Foundation.�In�this�ten�year�period�The�Foundation�has�awarded�grants�totalling�over�£7.5m.����

Ten�year�comparisons�of�the�overall�funding�agreed,�applications�received,�and�refusals

These�figures�result�in�an�average�amount�awarded�per�annum�of�£754,939�in�141�grants.� Average�516�applications�received�per�annum,�with�375�being�refused.�

Amount
funded		 Grantsmade Grantsmade Average
grantsize		 Average
grantsize		 Totalapps Totalapps Turned
down		 Turned
down
2023/24 £736,729 146 £5,046 535 389
2022/23 £767,231 142 £5,403 482 337
2021/22 £738,169 131 £5,635 427 296
2020/21 £726,132 131 £5,543 466 335
2019/20 £783,964 137 £5,722 440 303
2018/19 £731,233 140 £5,223 498 358
2017/18 £798,140 153 £5,217 577 424
2016/17 £749,675 135 £5,553 584 449
2015/16 £749,786 155 £4,837 588 433
2014/15 £768,330 136 £5,649 559 423
10Years £7,549,389 1,406 £5,383 5,156 3,747

5

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

Allen�Lane�Lectures�

The�Foundation�is�planning�to�hold�a�Lecture�in�the�autumn�of�2024.�Dr�Alison�Frater�has�been� invited�to�give�the�Lecture.�Alison�is�currently�co�Chair�of�Clean�Break�and�previous�roles�include� being�Chair�of�the�National�Criminal�Justice�Arts�Alliance�for�six�years.�The�text�of�some�of�the� previous�Lectures�remain�available�on�the�Foundation’s�website�(www.allenlane.org.uk).��

Investment�policy�and�performance�

The�Trust�Deed�authorises�the�Trustees�to�invest�the�Foundation's�funds�in�the�same�unrestricted� manner�as�if�they�were�the�beneficial�owners�of�the�funds.�Trustees�have�a�clear�and�agreed� investment�policy�and�objectives�based�on�the�advice�of�its�investment�managers,�Canaccord� Genuity�UK,�who�implement�that�strategy�and�report�at�every�meeting�to�the�Trustees�on� performance�and�market�conditions.�The�Trustees�regularly�review�the�investment�policy�and� objectives�to�ensure�that�it�takes�account�of�the�overall�objectives�of�the�Foundation�and�identifies� any�long�term�risks�to�the�portfolio.�

Going�concern�

After�making�appropriate�enquiries,�the�Trustees�have�a�reasonable�expectation�that�the�charity�has� adequate�resources�to�continue�in�operational�existence�for�the�foreseeable�future.�For�this�reason,� they�continue�to�adopt�the�going�concern�basis�in�preparing�the�financial�statements.�

Reserves�policy�

The�Trustees�are�not�required�to�make�any�distinction�between�capital�and�income,�and�aim�to� maintain�the�real�value�of�the�legacy,�while�ensuring�that�the�level�of�grant�making�is�not�subject�to� large�fluctuations.�Grant�making�in�any�one�year�is�not�strictly�related�to�the�amount�of�investment� income�received,�but�rather�to�an�estimate�of�the�amount�which�can�be�spent�each�year�without� impairing�the�ability�of�the�capital�to�sustain�the�same�real�level�of�spending�indefinitely�into�the� future.�Trustees�consider�that�a�large�proportion�of�its�capital�is�used�to�invest�to�help�generate�the� necessary�funds�for�its�grant�making�objectives.�

At�the�end�of�the�accounting�period,�the�total�amount�of�unrestricted�funds�the�Foundation�held� was�£22,156,026�(2023:�£20,455,319),�being�the�total�of�unrestricted�reserves�less�those�amounts� representing�tangible�fixed�assets.�This�was�higher�than�the�previous�year,�due�to�the�performance� of�the�Foundation’s�investments�rather�than�due�to�any�change�in�the�levels�of�expenditure� including�the�commitment�to�grants�made.�The�Trustees�accept�that�there�can�be�fluctuations,�both� up�and�down,�in�the�value�of�its�investments,�and�monitor�these�carefully�throughout�the�year.� Trustees�firmly�believe�that�the�modest�rise�in�the�portfolio�value�this�year,�is�within�normal�limits� and�maintains�the�overall�strength�of�the�Foundation’s�financial�position.��

The�Trustees�estimate�that�a�minimum�reserve�(excluding�investments)�equivalent�to�one�year’s� operational�expenditure�is�required.�Investments�are�held�as�capital�in�order�to�provide�income� from�which�to�make�grants.��The�Trustees�aim�to�hold�funds�other�than�investments�in�order�to� provide�working�capital�for�day�to�day�needs.��At�the�year�end�reserves,�excluding�investments,��

6

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

amounted�to�£132,053�and�annual�running�costs�for�the�year�amounted�to�£103,189.��Therefore,� the�Trustees�are�satisfied�that�they�hold�sufficient�operational�reserves�to�meet�the�day�to�day� needs�of�the�Foundation.�However,�the�total�reserves�need�to�be�considerably�higher�than�this�to� generate�the�investment�income�required�to�continue�the�Foundation’s�grant�making�activities.�

Structure,�governance,�and�management�

The�Foundation�

The�Allen�Lane�Foundation�was�set�up�in�1966�by�the�late�Sir�Allen�Lane,�founder�of�Penguin�Books,� to�support�general�charitable�causes.�Although�the�Foundation�has�no�connection�with�the� publishing�company,�it�has�throughout�its�existence�had�a�strong�family�connection�with�several� family�members�having�served�as�Trustees�including�two�of�Sir�Allen�Lane’s�daughters.�Currently,� the�Foundation�has�eight�Trustees�of�whom�three�are�members�of�the�founder’s�family.�

Appointment�of�Trustees�

The�management�of�the�charity�is�the�responsibility�of�the�Trustees�who�are�elected�and�co�opted� under�the�terms�of�the�Trust�Deed.�Trustee�induction�and�training�is�informal,�but�appropriate�for�a� Foundation�of�this�size.�New�Trustees�are�provided�with�copies�of�the�governing�documents,�latest� set�of�accounts,�and�taken�through�the�processes�employed�by�the�Foundation.�Trustees�can�also� attend�specific�training�or�networking�opportunities�provided�for�by�the�Foundation’s�membership� of�the�Association�of�Charitable�Foundations�(ACF).�

The�Board�appointed�two�new�Trustees,�Clara�Mulcare,�the�great�grand�daughter�of�Allen�Lane,�in� June�2023,�and�Amberley�Carter,�in�November�2023.���

Pay�policy�for�senior�staff�

The�level�of�pay�for�staff�is�set�by�the�Trustees�after�consideration�of�the�size�of�the�organisation,� the�levels�of�responsibility,�and�the�appropriate�rates�within�the�charitable�sector.�

Administration�

The�Trustees�are�responsible�for�setting�the�overall�strategies,�policies,�and�funding�criteria�of�the� Foundation�including�investments,�making�the�final�decisions�on�any�grant�awarded�and�for� agreeing�an�annual�budget.�Delegated�responsibility�is�given�to�the�Executive�Secretary�to� implement�these�and�together�with�the�Grants�Manager�they�provide�all�appropriate�advice�and� guidance.�

The�Foundation’s�staff,�Tim�Cutts�(Executive�Secretary),�and�Gill�Aconley�(Grants�Manager)� administer�the�Foundation’s�business�on�a�day�to�day�basis�from�the�office�in�York,�and�the�Trustees� meet�three�times�a�year.�Reports�by�the�office�are�made�to�the�Trustees�at�every�meeting�with� regular�communication�with�the�Chair�between�meetings.�

7

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

Trustees�can�report�that�the�cost�of�running�the�Foundation�has�remained�steady,�with�continued� steps�to�keep�operating�costs�at�an�appropriate�level�compared�to�the�level�of�grants�that�could�be� awarded.�Administrative�costs�represent�about�13.9%�of�grants�committed.�

The�Trustees�are�grateful�to�Tim�and�Gill�for�their�diligence�in�the�administration�of�the�Foundation.�

Risk�analysis�and�management�

The�Trustees�have�considered�the�risks�faced�by�the�Foundation.�They�are�satisfied�that�appropriate� measures�have�been�taken,�and�systems�put�in�place�to�mitigate�these�risks�and�minimise�the� impact�on�the�Foundation,�should�difficulties�materialise.�Major�risks�that�the�Trustees�have� considered�and�have�taken�steps�to�mitigate�include:�having�robust�assessment�and�monitoring� processes,�to�ensure�grants�made�are�for�work�which�is�considered�charitable;�having�a�clear� investment�policy�which�takes�into�account�appropriate�professional�advice;�and�ensuring�that�the� Foundation�is�compliant�with�legislation�and�regulations�through�taking�any�necessary�professional� advice�and�employing�experienced�and�knowledgeable�staff.�

Policy

The�Trustees�continued�to�recognise�the�impacts�on�vulnerable�individuals�and�across�communities� faced�with�higher�cost�of�living�and�pressures�on�public�services.�Part�of�this�is�support�to� organisations�covers�more�core�and�unrestricted�funding,�rather�than�new�projects�or�work.�There� has�been�in�2023/24�continuous�high�demand�for�grants�and�therefore,�Trustees�continue�to�review� its�priorities�to�manage�that�demand�and�mange�expectations�of�prospective�applicants.�

The�Trustees�are�always�keen�to�make�the�Foundation’s�criteria�as�clear�as�possible,�to�save� applicants�from�wasted�effort�and�disappointment,�although�this�means�that�the�Guidelines�list�a� significant�number�of�“exclusions”.�The�eligibility�quiz�before�the�on�line�application�process�also� assists�prospective�applicants�determine�whether�they�are�eligible,�without�having�to�go�on�to� complete�an�application.�

The�Foundation’s�website�gives�better�guidance�to�those�groups�and�organisations�looking�towards� the�Foundation�for�support�and�provides�case�studies�of�grants�awarded.�These�case�studies�not� only�provide�examples�of�the�types�of�grants�the�Foundation�makes,�but�highlights�the�excellent� work�that�is�done�by�many�of�the�organisations�supported.�The�Foundation,�through�its�staff,�are� always�available�to�provide�advice�and�guidance�prior�to�any�application�submitted.�

Future�plans�

The�Trustees�continue�to�maintain�the�amount�of�funds�it�has�available�annually�for�grant� distribution.�To�assist�Trustees,�they�receive�regular�policy�statements�and�updates�from�the�staff� team�during�the�year�to�help�refine�or�make�changes�to�its�grant�making�policy.�The�Trustees�will� continue�to�review�of�the�Foundation’s�work�during�the�coming�year�and�continue�to�reserve�the� right�to�offer�larger�grants�at�their�discretion.�

8

THE�ALLEN�LANE�FOUNDATION� TRUSTEES’�REPORT� FOR�THE�YEAR�ENDED�31�MARCH�2024�

Thanks�

Most�importantly,�the�Trustees�also�wish�to�express�their�appreciation�of�those�who�have�applied� for�grants�this�year.�We�regret�that�there�are�many�we�are�unable�to�help,�but�without�their�work,�a� grant�making�foundation�like�this�would�have�no�purpose.�The�Trustees�and�staff�feel�privileged�to� be�able�to�help�with�their�work.�

Trustees'�responsibilities�statement

The�Trustees�are�responsible�for�preparing�the�Trustees'�report�and�the�financial�statements�in� accordance�with�applicable�law�and�United�Kingdom�Accounting�Standards�(United�Kingdom� Generally�Accepted�Accounting�Practice).�

The�law�applicable�to�charities�in�England�&�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�are�sufficient�to�show�and� explain�the�charity's�transactions�and�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� trust�deed.�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.�

This�report�was�approved�by�the�Trustees,�on�and�signed�on�their�behalf�by:�

Fredrica�Teale,�Chair�of�Trustees� 5�July�2024��������������������������������������������������

9

INDEPENDENT�AUDITOR’S�REPORT�TO�THE�TRUSTEES�OF�

THE�ALLEN�LANE�FOUNDATION�

Opinion�

We�have�audited�the�financial�statements�of�The�Allen�Lane�Foundation�for�the�year�ended�31� March�2024�which�comprise�Statement�of�Financial�Activities,�Balance�Sheet,�Statement�of�Cash� Flows,�and�notes�to�the�financial�statements,�including�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).�

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� Auditor’s�responsibilities�for�the�audit�of�the�financial�statements�section�of�our�report.�We�are� independent�of�the�charity�in�accordance�with�the�ethical�requirements�that�are�relevant�to�our� audit�of�the�financial�statements�in�the�UK,�including�the�FRC’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�trustees�with�respect�to�going�concern�are� described�in�the�relevant�sections�of�this�report.�

10

INDEPENDENT�AUDITOR’S�REPORT�TO�THE�TRUSTEES�OF�

THE�ALLEN�LANE�FOUNDATION�

Other�information�

The�trustees�are�responsible�for�the�other�information�contained�within�the�annual�report.�The� other�information�comprises�the�information�included�in�the�annual�report,�other�than�the�financial� statements�and�our�auditor’s�report�thereon.�Our�opinion�on�the�financial�statements�does�not� cover�the�other�information�and�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�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�in�relation�to�which�the�Charities� (Accounts�and�Reports)�Regulations�2008�require�us�to�report�to�you�if,�in�our�opinion:�

Responsibilities�of�trustees�

As�explained�more�fully�in�the�trustees’�responsibilities�statement�set�out�on�page�9,�the�trustees� are�responsible�for�the�preparation�of�the�financial�statements�and�for�being�satisfied�that�they�give� a�true�and�fair�view,�and�for�such�internal�control�as�the�trustees�determine�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�trustees�either�intend�to�liquidate�the�charity�or�to� cease�operations,�or�have�no�realistic�alternative�but�to�do�so.�

11

INDEPENDENT�AUDITOR’S�REPORT�TO�THE�TRUSTEES�OF�

THE�ALLEN�LANE�FOUNDATION�

Auditor’s�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�auditor’s� 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� 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:�

We�obtained�an�understanding�of�the�legal�and�regulatory�frameworks�within�which�the�charity� operates,�focusing�on�those�laws�and�regulations�that�have�a�direct�effect�on�the�determination�of� material�amounts�and�disclosures�in�the�financial�statements.�The�laws�and�regulations�we� considered�in�this�context�were�the�Charities�Act�2011�and�the�Statement�of�Recommended� Practice.��

We�identified�the�greatest�risk�of�material�impact�on�the�financial�statements�from�irregularities,� including�fraud,�to�be�the�override�of�controls�by�management.�Our�audit�procedures�to�respond�to� these�risks�included�enquiries�of�trustees�and�management�about�their�own�identification�and� assessment�of�the�risks�of�irregularities,�sample�testing�on�the�posting�of�journals�and�reviewing� accounting�estimates�for�biases.��

Owing�to�the�inherent�limitations�of�an�audit,�there�is�an�unavoidable�risk�that�we�may�not�have� detected�some�material�misstatements�in�the�financial�statements,�even�though�we�have�properly� planned�and�performed�our�audit�in�accordance�with�auditing�standards.��We�are�not�responsible� for�preventing�non�compliance�and�cannot�be�expected�to�detect�non�compliance�with�all�laws�and� regulations.��

These�inherent�limitations�are�particularly�significant�in�the�case�of�misstatement�resulting�from� fraud�as�this�may�involve�sophisticated�schemes�designed�to�avoid�detection,�including�deliberate� failure�to�record�transactions,�collusion�or�the�provision�of�intentional�misrepresentations.�

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�auditor’s�report.�

12

INDEPENDENT�AUDITOR’S�REPORT�TO�THE�TRUSTEES�OF�

THE�ALLEN�LANE�FOUNDATION�

Use�of�our�report�

This�report�is�made�solely�to�the�charity’s�trustees,�as�a�body,�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�trustees�those�matters�we�are�required�to�state�to�them�in�an�auditor’s� 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�the�charity’s�trustees�as�a�body,�for�our� audit�work,�for�this�report,�or�for�the�opinions�we�have�formed.�

HPH,�Chartered�Accountants�

Statutory�Auditor�

54�Bootham�

YORK�

YO30�7XZ�

5�July�2024�

13

THE�ALLEN�LANE�FOUNDATION

STATEMENT�OF�FINANCIAL�ACTIVITIES FOR�THE�YEAR�ENDED�31�MARCH�2024

Notes
Incomefrom:
Donationsandlegacies
Investments
2
Totalincome
Expenditureon:
Raisingfunds
3
Charitableactivities
4
Totalexpenditure
Netexpenditurebeforenetgains/
lossesoninvestments
Netgains/lossesoninvestments
Netmovementinfunds
Reconciliationoffunds:
Totalfundsbroughtforward
Netmovementinfunds
Totalfundscarriedforward		 Unrestricted
funds
£
250
706,912
707,162
127,591
837,301
964,892
(257,730)
1,958,437
1,700,707
20,455,319
1,700,707
£22,156,026		 Total
2024
£
250
706,912
707,162
127,591
837,301
964,892
(257,730)
1,958,437
1,700,707
20,455,319
1,700,707
£22,156,026		 Total
2023
£
�
676,726
676,726
123,721
869,408
993,129
(316,403)
(937,837)
(1,254,240)
21,709,559
(1,254,240)
£20,455,319

The�notes�on�pages�17�to�32�form�part�of�these�accounts.

14

THE�ALLEN�LANE�FOUNDATION

BALANCE�SHEET

AS�AT�31�MARCH�2024

Notes
2024
2023
£
£
Fixedassets
Tangibleassets
11
752
1,003
Investments
12
22,023,973
20,322,512
22,024,725
20,323,515
Currentassets
Debtors
13
6,425
4,565
Cashatbankandinhand
19
355,846
363,414
362,271
367,979
14
(220,320)
(225,175)
Netcurrentassets
141,951
142,804
Totalassetslesscurrentliabilities
22,166,676
20,466,319
15
(10,650)
(11,000)
Totalnetassets
£22,156,026
£20,455,319
Thefundsofthecharity:
Unrestricedfunds
16
22,156,026
20,455,319
Totalfunds
£22,156,026
£20,455,319
Creditors:amountsfallingdueafter
morethanoneyear
Creditors:amountsfallingdue
withinoneyear		 Notes
2024
2023
£
£
Fixedassets
Tangibleassets
11
752
1,003
Investments
12
22,023,973
20,322,512
22,024,725
20,323,515
Currentassets
Debtors
13
6,425
4,565
Cashatbankandinhand
19
355,846
363,414
362,271
367,979
14
(220,320)
(225,175)
Netcurrentassets
141,951
142,804
Totalassetslesscurrentliabilities
22,166,676
20,466,319
15
(10,650)
(11,000)
Totalnetassets
£22,156,026
£20,455,319
Thefundsofthecharity:
Unrestricedfunds
16
22,156,026
20,455,319
Totalfunds
£22,156,026
£20,455,319
Creditors:amountsfallingdueafter
morethanoneyear
Creditors:amountsfallingdue
withinoneyear		 Notes
2024
2023
£
£
Fixedassets
Tangibleassets
11
752
1,003
Investments
12
22,023,973
20,322,512
22,024,725
20,323,515
Currentassets
Debtors
13
6,425
4,565
Cashatbankandinhand
19
355,846
363,414
362,271
367,979
14
(220,320)
(225,175)
Netcurrentassets
141,951
142,804
Totalassetslesscurrentliabilities
22,166,676
20,466,319
15
(10,650)
(11,000)
Totalnetassets
£22,156,026
£20,455,319
Thefundsofthecharity:
Unrestricedfunds
16
22,156,026
20,455,319
Totalfunds
£22,156,026
£20,455,319
Creditors:amountsfallingdueafter
morethanoneyear
Creditors:amountsfallingdue
withinoneyear
20,466,319
(11,000)
£20,455,319
20,455,319
£20,455,319

The�notes�on�pages�17�to�32�form�part�of�these�accounts.

Approved�by�the�Trustees�on�5�July�2024

and�signed�on�their�behalf�by:�

Fredrica�Teale,�Chair�of�Trustees

15

THE�ALLEN�LANE�FOUNDATION

STATEMENT�OF�CASH�FLOWS FOR�THE�YEAR�ENDED�31�MARCH�2024

Notes
Cashflowsfromoperatingactivities
Netcashusedinoperatingactivities
18
Cashflowsfrominvestingactivities:
Dividends,interestsandrentsfrominvestments
Proceedsfromsaleofinvestments
Purchaseofinvestments
12
Netcashprovidedbyinvestingactivities
Changeincashandcashequivalentsintheyear
Cashandcashequivalentsatthebeginningoftheyear
Cashandcashequivalentsattheendoftheyear
19		 2024
£
(971,456)
706,912
4,240,817
(3,983,841)
963,888
(7,568)
363,414
£355,846		 2023
£
(979,738)
676,726
2,669,178
(2,248,962)
1,096,942
117,204
246,210
£363,414

The�notes�on�pages�17�to�32�form�part�of�these�accounts.

16

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS

FOR�THE�YEAR�ENDED�31�MARCH�2024

1. ACCOUNTING�POLICIES

a) Statutory�information

The Allen Lane Foundation is an unincorporated charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations�and�principal�activities�are�the�making�of�grants�for�general�charitable�purposes.

b) Basis�of�preparation

The Accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102) (effective 1 January 2019) � (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)�and�the�Charities�Act�2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April�2005�which�has�since�been�withdrawn.

The�Allen�Lane�Foundation�meets�the�definition�of�a�public�benefit�entity�under�FRS�102.�

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the�functional�currency�of�the�charity�and�rounded�to�the�nearest�£.�

The significant accounting policies applied in the preparation of these financial statements are set out below.�These�policies�have�been�consistently�applied�to�all�years�presented�unless�otherwise�stated.

c) Going�concern

As part of their assessment of the going concern basis of preparation, the trustees have considered the forecasted income for the year to 31 March 2025. They have also informally considered the period up to 12 months from the signing of the accounts. The majority of the expenditure, being grants payable, is at the discretion of the trustees and can be reduced if income falls. The charity also has sufficient reserves to cover�the�current�level�of�expenditure�for�several�years�ahead.

17

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS

FOR�THE�YEAR�ENDED�31�MARCH�2024

1. ACCOUNTING�POLICIES�(continued)

At the time 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, the trustees�continue�to�adopt�the�going�concern�basis�in�preparing�the�financial�statements.

d) Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will�be�received�and�the�amount�of�income�receivable�can�be�measured�reliably.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest�method�and�divided�income�is�recognised�as�the�charity's�right�to�receive�payment�is�established.

e) Expenditure

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

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance�costs�are�allocated�to�the�applicable�expenditure�headings.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the�charity's�objectives,�as�well�as�any�associated�support�costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment,�but�not�accrued�as�expenditure.

f) Interest�receivable�

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

g) Foreign�currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange�ruling�at�the�balance�sheet�date.

18

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

1. ACCOUNTING�POLICIES�(continued)

h) Taxation�

The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521 �s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income�or�gains�are�applied�exclusively�to�charitable�purposes.

i) Tangible�fixed�assets�and�depreciation

Tangible�fixed�assets�are�carried�at�cost,�net�of�depreciation�and�any�provision�for�impairment.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value,�over�their�expected�useful�lives.

Depreciation�is�provided�on�the�following�basis:

Office�equipment ��25%�reducing�balance

j) Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement�of�financial�activities.

k) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments�are�valued�at�the�amount�prepaid�net�of�any�trade�discounts�due.

l) Cash�at�bank�and�in�hand

Cash at bank and in hand includes cash and short�term highly liquid investments with a short maturity of three�months�or�less�from�the�date�of�acquisition�or�opening�of�the�deposit�or�similar�account.

m) Liabilities�and�provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement�can�be�estimated�reliably.

19

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS

FOR�THE�YEAR�ENDED�31�MARCH�2024

1. ACCOUNTING�POLICIES�(continued)

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount�it�has�received�as�advanced�payments�for�the�goods�or�services�it�must�provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre�tax discount rate that reflects the risks specific to the liability. The unwinding of the discount�is�recognised�within�interest�payable�and�similar�charges.

n) Financial�instruments

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

o) Employee�benefits

The�costs�of�short�term�employee�benefits�are�recognised�as�a�liability�and�an�expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

p) Pensions

Pension contributions paid by the charity into defined contribution pension schemes on behalf of its employees�are�charged�to�the�statement�of�financial�activities.

q) Fund�accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance�of�the�general�objectives�of�the�charity�and�which�have�not�been�designated�for�other�purposes.

Investment�income,�gains�and�losses�are�allocated�to�the�appropriate�fund.

20

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

2. INVESTMENTINCOME Unrestricted Total Total
Funds 2024 2023
£ £ £
IncomefromUKlistedinvestments 678,189 678,189 673,687
Interestreceivable 28,723 28,723 3,039
706,912 706,912 676,726
3. COSTSOFRAISINGFUNDS Unrestricted Total Total
Funds 2024 2023
£ £ £
Investmentmanagementfees 127,591 127,591 123,721
127,591 127,591 123,721

4. ANALYSIS�OF�EXPENDITURE�ON�CHARITABLE�ACTIVITIES Summary�by�fund�type

Summarybyfundtype
Unrestriced Total Total
Funds Funds Funds
2024 2024 2023
£ £ £
GrantsCommitted(note5) 726,004 726,004 759,231
Supportcosts(note6) 82,551 82,551 82,642
Governancecosts(note7) 28,746 28,746 27,535
837,301 837,301 869,408
Summarybyexpendituretype
Staff Other Total Total
costs Depreciation Costs Funds Funds
2024 2024 2024 2024 2023
£ £ £ £ £
GrantsCommitted(note5) � � 726,004 726,004 759,231
Supportcosts(note6) 65,577 201 16,774 82,551 82,642
Governancecosts(note7) 16,394 50 12,301 28,746 27,535
81,971 251 755,079 837,301 869,408

21

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

5. ANALYSISOFGRANTS 2024 2023
£ £
Grantstoinstitutions
Grantscommitted(note22) 736,729 767,231
Grantswithdrawnorreleased (10,725) (8,000)
726,004 759,231

For�further�details�of�grants�committed�during�the�year�see�note�22.�A�reconciliation�of�grant� commitments�is�as�follows:

2024 2023
£ £
Commitmentsbroughtforward 219,865 203,706
Grantscommitted(note22) 736,729 767,231
Grantswithdrawnorreleased (10,725) (8,000)
Grantspaid (755,228) (743,072)
Grantscarriedforward 190,641 219,865
Grantcommitments 2024 2023
£ £
ofwhichpayablewithinoneyear 179,991 208,865
ofwhichpayableafteroneyear 10,650 11,000
190,641 219,865
Grantscommited�bybeneficiary 2024 2023
£ £
Peopleexperiencingmentalhealthissues 80,095 112,840
Offendersandex�offenders 101,092 81,276
Peopleexperiencingviolenceorabuse 115,743 84,834
Olderpeople 147,299 232,885
Migrantcommunities � 40,500
Refugeesandasylum�seekers 109,656 140,732
Gypsiesandtravellers 20,500 10,000
Socialcohesion � �
Youngpeople 162,344 64,164
£736,729 £767,231

22

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

**6. ** SUPPORTCOSTS Charitable Governance Total Total Total
activities costs funds funds
2024 2024 2024 2023
£ £ £ £
Premises 7,829 1,957 9,786 9,162
Officecosts 5,474 1,369 6,843 6,546
Sundryexpenses 3,470 868 4,338 3,370
Wagesandsalaries 57,979 14,495 72,474 73,264
Nationalinsurance 2,002 500 2,502 3,000
Pensioncost 5,596 1,399 6,995 7,625
Depreciation 201 50 251 335
82,551 20,638 103,189 103,302
Total2023 82,642 20,660 103,302

The support costs as listed above are allocated to charitable activities and governance costs using a ratio of 80:20. This ratio has been agreed by the Trustees and shows a reasonable split between time and�resources�spent�on�each�area.

VERNANCECOSTS Unrestriced Total Total
funds funds funds
2024 2024 2023
£ £ £
Accountancyfees 2,614 2,614 2,420
Auditfee 4,184 4,184 3,874
Trustees'travelandaccommodationexpenses 1,310 1,310 581
Supportcosts(note6) 20,638 20,638 20,660
28,746 28,746 27,535
Total2023 27,535 27,535

7. GOVERNANCE�COSTS

8. AUDITORS'�REMUNERATION�

The auditors' remuneration amounts to an audit fee of £4,184 (2023 �£3,874), and accountancy fees of £2,614�(2023���£2,420).

23

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

9. STAFF�COSTS

AFFCOSTS
Staffcostswereasfollows: 2024 2023
£ £
Wagesandsalaries 72,474 73,264
Socialsecuritycosts 2,502 3,000
Otherpensioncosts 6,995 7,625
81,971 83,889

The�average�number�of�persons�employed�by�the�charity�during�the�year�was�as�follows:

2024 2023
No. No.
2 2

No�employee�received�remuneration�amounting�to�more�than�£60,000�in�either�year.

The key management personnel of The Allen Lane Foundation include both the Executive Secretary and the and the Grants Manager. The total employee benefits of the key management personnel were £81,971�(2023���£83,889).

10. TRUSTEES'�REMUNERATION�AND�EXPENSES�

During the year, Trustees received gifts worth £50. They did not receive any remuneration or other benefits�(2023���£300).

During the year ended 31 March 2024, a total of £1,310 of expenses were reimbursed or paid directly to 7 Trustees�(2023���£581�to�5�Trustees).

������������������������

�����������������
Office
equipment
£
Costorvaluation
At1April2023 6,278
Additions �
At31March2024 6,278
Depreciation
At1April2023 5,275
Chargefortheyear 251
At31March2024 5,526
Netbookvalue
At31March2024 752
At31March2023 1,003

24

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

������������������������
Listed
investments
£
Valuation
At1April2023 20,322,512
Additions 3,983,841
Disposals (3,992,314)
Revaluations 1,709,934
AtMarch2024 22,023,973
Investmentsatmarketvaluecomprise:
2024 2023
£ £
Listedinvestments 22,023,973 20,322,512
Thehistoricalcostoflistedsecuritiesasat31March2024was£14,605,435(2023�£14,885,456).
AllthefixedassetinvestmentsareheldintheUK.
����������
2024 2023
£ £
Prepaymentsandaccruedincome 6,425 4,565
6,425 4,565
14. CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR
2024 2023
£ £
Accrualsanddeferredincome 40,329 16,310
Grantcommitments 179,991 208,865
220,320 225,175
15. CREDITORS:AMOUNTSFALLINGDUEAFTERMORETHANONEYEAR
2024 2023
£ £
Grantcommitments 10,650 11,000

25

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

16. STATEMENT�OF�FUNDS

Statement�of�funds���current�year�

Balanceat1 Gains/ Balanceat31
April2023 Income Expenditure (Losses) March2024
£ £ £ £ £
Unrestricedfunds
GeneralFunds 15,018,263 707,162 (964,892) (23,045) 14,737,488
Revaluationreserve 5,437,056 � � 1,981,482 7,418,538
20,455,319 707,162 (964,892) 1,958,437 22,156,026
Statementoffunds�prioryear
Balanceat1 Gains/ Balanceat31
April2022 Income Expenditure (Losses) March2023
£ £ £ £ £
Unrestricedfunds
GeneralFunds 14,943,491 676,726 (993,129) 391,175 15,018,263
Revaluationreserve 6,766,068 � � (1,329,012) 5,437,056
21,709,559 676,726 (993,129) (937,837) 20,455,319

26

THE�ALLEN�LANE�FOUNDATION

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

17. ANALYSIS�OF�NET�ASSETS�BETWEEN�FUNDS�

Analysisofnetassetsbetweenfunds�currentyear Unrestriced Total
funds funds
2024 2024
£ £
Tangiblefixedassets 752 752
Fixedassetinvestments 22,023,973 22,023,973
Currentassets 362,271 362,271
Creditorsduewithinoneyear (220,320) (220,320)
Creditorsdueinmorethanoneyear (10,650) (10,650)
22,156,026 22,156,026
Analysisofnetassetsbetweenfunds�prioryear Unrestriced Total
funds funds
2023 2023
£ £
Tangiblefixedassets 1,003 1,003
Fixedassetinvestments 20,322,512 20,322,512
Currentassets 367,979 367,979
Creditorsduewithinoneyear (225,175) (225,175)
Creditorsdueinmorethanoneyear (11,000) (11,000)
20,455,319 20,455,319

18. RECONCILIATION�OF�NET�MOVEMENT�IN�FUNDS�TO�NET�CASH�FLOW�FROM�OPERATING�ACTIVITES�

2024 2023
Net/income/(expenditure)fortheyear(asperStatement £ £
ofFinancialActivities) 1,700,707 (1,254,240)
Adjustmentsfor:
Depreciationcharges 251 335
(Gains)/lossesoninvestments (1,958,437) 937,837
Dividendsandinterestfrominvestments (706,912) (676,726)
Increaseindebtors (1,860) (2,452)
(Decrease)/Increaseincreditors (5,205) 15,508
Netcashusedinoperatingactivities (971,456) (979,738)

27

THE�ALLEN�LANE�FOUNDATION�

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

19. ANALYSIS�OF�CASH�AND�CASH�EQUIVALENTS�AND�CHANGES�IN�NET�DEBT

Cashatbankinhand
Totalcashandcashequivalents		 At1April
Cash
2023
flows
£
£
363,414
(7,568)
363,414
(7,568)		 At31March
2024
£
355,846
355,846

20. RELATED�PARTY�TRANSACTIONS�

There were no related party transactions as required to be disclosed other than the reimbursement of Trustees'�expenses�shown�in�note�10.

21. OPERATING�LEASES

Thetotalfuturevalueofminimumleasepaymentsisasfollows:
Withinoneyear
Withinonetotwoyears
Intwotofiveyears		 2024
£
6,854
454
�
£7,308		 2023
£
10,054
454
454
£10,962

The amount of non�cancellable operating lease payments recognised as an expense during the period was�£10,054�(2023���£9,414).

28

THE�ALLEN�LANE�FOUNDATION�

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

22 GRANTS�COMMITTED�

GRANTSCOMMITTED
2024
Grantscommittedintheyearwereasfollows: £
NewtonHeathCommunityLearningCentre 8,000
BugleLibraryofThingsCIC 5,000
NoExcuseforAbuse 10,000
FuturesUnlocked 8,000
TheArukahProjectCIC 5,665
EvolveRecoveryHomes 5,000
SupportED 10,000
GrowforLife 6,000
MindYourMusic 5,000
WorcesterCommunityAction 4,996
ToolsforSolidarityDownpatrick 4,000
TalkChanges 4,000
MANLEIGH 2,000
HopeAgainstSuicide 1,500
Restored 8,000
TrueButterfliesFoundation 7,500
KilledWomen 7,000
FlourishNI 5,000
ReplenishedLife 5,000
ProjectSalama 4,000
StrengthCommunityService 4,000
Brendan'sBridge 10,000
YellowHouse 10,000
TotnesRuralAreaYouthEngagement 4,160
TheCareExperiencedMovement 7,500
ThePhoenixEducationTrust 4,000
ParkerTrust 7,500
NewBeginningsNorthCIC 9,000
GlasgowGirlsClub 7,350
ALLEarsMHACIC 6,840
KidsTrust 6,000
TotalInsightTheatre 5,000
SandwellYouthinAction 4,000
EngageTrust 5,000
TheRockCurrockYouthProject 5,000
TimebankingUK 10,000
ScottishDetaineeVisitors 10,000
CityofSanctuaryLeicester 8,000
LaunchpadCollective 7,500
AllianceforChoiceBelfast 7,000
Subtotal 253,511

29

THE�ALLEN�LANE�FOUNDATION�

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

22 GRANTS�COMMITTED���CONTINUED

GRANTSCOMMITTED�CONTINUED
2024
£
Subtotalbroughtforward 253,511
Afrocats 5,000
TheGoodCompanyPeople 8,000
TheGreenTeam 6,500
WiveyCares 6,000
ForeverYoungNottingham 6,000
WellfitHealth&Wellbeing 4,948
AMALAwellness 4,800
Rosemary&Time 3,960
TheGreaterGoodProject 3,000
CravenArmsGoodNeighbours 1,500
CloughmillsCultural&HistoricalSociety 1,000
PollokshawsMethodistChurchLADLE 700
AlternativestoViolenceProject,Britain 8,100
CommunityChaplaincyNorfolk 8,000
CleanSlateSolutions 8,000
AFairerChanceCIC 7,000
EntrepreneurUnlockedCIC 6,800
TheWelcomeDirectory 6,072
KentRefugeeHelp 5,000
Employment4AllCIC 5,000
Runforever 3,000
CanterburyLadiesChoir 1,455
OCDUk 5,000
AdullamProgramme 4,000
TheClub 4,000
ShinePNDSupport 3,966
WestMidlandsOCDSupport 2,000
ACTSFAST 10,019
MaleSurvivorsPartnerships 7,500
TheirVoice 7,000
ReleaseCounsellingandTherapyforWomen 6,277
HonourThyWomenGroup 5,000
ThisEndsNow 3,000
MNWellChildSupportCIC 6,500
IgniteLife 6,000
YouthMentalHealthFoundation 5,886
YouCanFlourish 4,000
BrightpathsSupportCIC 3,000
CrewekerneWellbeingCIC 2,500
YoungPeopleTakingAction 2,000
Subtotal 450,994

30

THE�ALLEN�LANE�FOUNDATION�

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

22 GRANTS�COMMITTED���CONTINUED

GRANTSCOMMITTED�CONTINUED
2024
£
Subtotalbroughtforward 450,994
Touchpoint 3,500
NapierFriends 5,000
TauntonWelcomeRefugees 6,656
CommunityWelcomeCIC 5,000
FurnessRefugeeSupport 4,500
OnYourSideNorwichLtd 4,000
HarehillsEnglishLanguageProject 3,000
RedChairHighlandLtd 6,120
WithoutWalls 6,000
SapcoteMemoryHub 5,000
MHACommunitiesKirklees 5,000
TheMentorRing 4,085
OlderCitizensAdvocacyYork 4,000
SocialCirclesCIC 4,000
NODAAyrshire 4,000
ParkfieldsCommunityCentre 3,536
WovenNestTheatre 3,600
FairFuturesCIC 3,050
NorthShrewsburyFriendlyNeighbours 1,000
AgeConcernSturministerNewton&NorthDorset 3,000
ResidentsAssociationofFarringdon&ThirlmereandFarriPark 1,500
HiddenFriends 1,500
George'sKitchen 1,000
YorkTravellersTrust 7,500
CoachingInside&OutCompanyLtd 10,000
GlasshouseTheatreCic 4,000
OrganicArts 5,000
KeeptheHeidMentalHealthCafé 4,833
GarageArtGroup 4,000
WeAreAwareCIC 3,300
HappytoChatHappytoListen 3,000
Men'sAdviceRecoverySupport(MARS) 2,000
FromeField2Folk 1,500
ActionAgainstStalking 10,000
TheSaffiresProject 8,247
TheCentreforMilitaryJustice 7,500
MakeaDifference 5,700
MorePositiveMe 5,000
MoreThanGrandparents 8,000
CommunitySkillsandKnowledgeNetworkCIC 5,000
Subtotal 633,621

31

THE�ALLEN�LANE�FOUNDATION�

NOTES�TO�THE�ACCOUNTS FOR�THE�YEAR�ENDED�31�MARCH�2024

22 GRANTS�COMMITTED���CONTINUED

GRANTSCOMMITTED�CONTINUED
2024
£
Subtotalbroughtforward 633,621
YouthResilienceUk 6,000
TheJunoProject 5,000
TheFamilyPlaceFoundation 4,608
DandelionConfidenceCIC 4,000
Escapeline 3,000
LAB7 3,000
Eden'sProject 2,500
ToxtethWomen'sCentre 7,000
InclusiveHomeworkClub 5,000
Brighton&HoveFaithinAction 5,000
BradfordEcumenicalAsylumConcern(BEACON) 4,000
PendleNewNeighbours 4,000
MigrantEnglishProject 3,500
HorshamRefugeeSupportGroup 2,000
LinkingLivesUK 10,000
AgeConcernMoleValley 7,000
Music4Wellbeing 5,000
WishingWellMusicforHealth 5,000
CyrilFlintVolunteerCharity 3,500
CambridgeshireOlderPeopleEnterprise(COPE) 3,000
ChabadLubavitchofMiltonKeynes 3,000
XpressYourselfDanceCIC 3,000
HappySignsCIC 2,000
SIDValleyHelp 2,000
Crowthorne&WokinghamWithoutNMI 500
SwaleCommunityCareProject 500
736,729

32