THE ALLEN LANE FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 LLE Charity Number.. 248031 HPH Chartered Accountants 54 Bootham YORK Y030 7XZ
THE ALLEN LANE FOUNDATION TRUSTEES. REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Contents Page Reference and administrative details Trustees, Annual Report 2-10 Independent Auditor's Report 11-14 Statement of Financial Activities 15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the Financial Statements 18-33
THE ALLEN LANE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2026 Trustees- Amberley Carter Michael Firth Maurice Frankel (resigned 07111120251 Claire Hitchcock, Chair Ifrom 07111120251 Clara Mulcare Fredrica Teale, Chair (to 07/11120251 Zoe Teale Philip Walsh Charity registered number.. 248031 Principal Address= The Annexe, Ginger Hall 54a Piercy End KIRKBYMOORSIDE Y062 6DF E-mail address.. info@allenlane.org.uk Website.. www.allenlane.org.uk Staff.. Gill Aconley, Director Bank= Co-operative Bank PLC 62-64 Southampton Row LONDON WC18 4ND Investment Managers: Canaccord Genuity Group Inc 88 Wood Street LONDON EC2V 7QR Auditor- HPH, Chartered Accountants 54 Bootham YORK Y030 7XZ
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 The Trustees present their annual report together with the audited financial statements of The Allen Lane Foundation (the charityl for the year ended 31 March 2026. The financial statements have been prepared in accordance with the accounting policies set ovt in notes to the account5 and comply with the charity'5 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 IFRS 1021 (effective l January 20191- (Charites SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Objective5 and Activities Objectlves and Publlc 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- will make a lasting difference to people's lives rather than simply alleviating the symptoms or current problems,. Is aimed at reducing isolation, stigma and discrimination- and encourages or enables group5 that experience disadvantage, marginalisation and/or discrimination to share in the life of the whole community. The Foundation has identified specific groups of people it believes are marginalised, vulnerable, 1501ated, and unpopular within the communities through which support can meet those objective5. The Foundation awards funding through seven specific funding programmes that benefit people in the following groups.. A5ylum-seekers and refugees Gypsy, Traveller and Roma communities Offenders and ex-offenders Older people People experiencing mental health problems People experiencing violence or abuse Young people As the Foundation's resources are limited, it focu5ses on funding smaller organi5ations where Small grants can have more impact. Grants are awarded to registered charities and organisations with automatic charitable status. Grants can also be awarded to constituted groups and other forms of organisations such as Community Interest Companies ICICI where their structure and governance fit the Foundation's criteria. 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 land 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.
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 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 fundinE to organisations which demonstrate charitable purpose. Funding provided enables the cau5e5 SUPPOrted to provide benefits to the public within those organisations, 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 organi5ations 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 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. Key financial performance indicators The Foundation's portfolio made good progress in the year to 31st March 2026, with a total return of 15.47% versus 10.60% for the peer group. The headline performance belies significant volatility in financial markets throughout the year. In April 2025, US President Trump announced sweeping tariffs on global trade partners Wlth the stated aim of reducing the Us's trade deficit with other natlons. While tariff5 were expected, the scale, breadth, and speed at which the US President wished to implement them caught markets off guard. Equities moved sharply lower in response, before stabilising and gradually beginning their recovery as Trump began to strike deals with affected nations to lower the overall tariff burden. After a serie5 of delays and challenges to the tariffs, the overall impact was les5 than originally feared.
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 Disinflationary pressures continued throughout the year, raising the prospect of interest rate cuts in 202612027. This, in turn, would further ease the pressure on consumers and businesses, and optimism for the year ahead continued to improve. Despite elevated geopolitical uncertainty created by the new US administration, corporate profitability around the world generally exceeded expectatlOn5 and equity markets recovered on strong underlying fundamental5. The momentum in markets continued until March 2026, when the US and Isreal launched attacks on Iran. The Strait of Hormuz was closed, causing disruption to global energy supplies and a sharp increase in the price of oil and gas. Expectations of further falls in inflation and interest rate cuts reversed, with markets now expecting a jump in inflation and the prospect of interest rate hikes. Positive sentiment evaporated and markets once again lurched lower as investors digested the potential implications of a drawn-out conflict and severe disruptions to global oil supplies. By the end of the month land end of the period under reviewl, a fragile ceasefire had been aEreed, and hopes were rising that an end to the conflict would be reached before too much damage to the global economy. The portfolio generated just over £750,005 of intome in the year to 315t March 2026, representing a very modest decrease on the £761,210 received in the prior year. As the manager flagged in his previous report, the weakness in the US dollar provided a headwind for dividends in sterling terms. In addition to this, management teams have cited ongoing political uncertainty as a key reason why dividends did not rise in line with underlying profitability. Nevertheless, corporate balance sheets remain in good health with the retention of cash this year providing resilience for the year ahead, and scope to increase capital distributions as uncertainties clear. As at 31" March 2026, the portfolio is expected to generate in the region of £780,000 of income over the coming 12-month period. The Trustees continued to have consideration on the wider concerns around Socially Responsible investing. The Fovndation's investment managers provide regular updates on the position of the portfolio as it measure5 against Environmental, Social and Governance IESGI and Sustainability ratings. The investments within the portfolio that score below-average are regularly reviewed and discussed at the Trustees, Meetings, and the managers have taken action to reduce exposure to areas rated 'below average, as and when they have seen suitable opportunities to do so. Market volatility and geopolitical risk is set to remain elevated for the coming year, but the manager is comfortable with the positioning of the portfolio and remains cautiously optimistic of making further progress in the year ahead. The Trustees continue to believe the portfolio is balanced, diversified, and tailored to meet their specific needs and objectives. They would like to thank the investment management team at Canaccord Genuity UK for their hard work and diligence during the year. Charitable Grants In 2025126 the number of applications for funding have continued to rise with 748 applications being reported on at the Trustee meetings. In previous years the average number received per annum was around 500. Numbers have grown rapidly, particularly over the past two year5. This is
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 likely to be due to a number of factors including the increased use of Large Language Models IAII in sourcing funders and writing applications; and also increased need through the very difficult situation that the charitable sector is in currently. In the last year, the Foundation committed to 127 new grants la slightly lower figure than the 141 grants awarded in the previous yearl. The total value of grants committed was £740,101, just under the £752,526 awarded in 2024/25. Grant amounts ranged from £1,000 to £12,000, and the average grant size awarded by the Foundation over all seven funding programmes was £5,828. Most of the grants offered 1991 were single grants, with 22 grants over two years, and 6 over a three-year period. Half the grants committed1631 were to organisations that had applied to the Foundation before. 40 of those organisations had been successful with previous application5, and 23 had previous applications turned down. 64 grants were made to organisations that were new to the Foundation. Three of the funding programmes received the largest share of applications - People with Mental Health Problems 12111, Young People 12011, and Older People 11491. Two of these programmes resulted in grants being awarded of a similar amount of grant funding of around £150,000 over the year Older People and Young People. Whilst the Mental Health programme saw the largest number of application5 being made, the overall amount committed was lower at around £129,000. The chart below shows the overall value awarded across the funding programmes. The Foundation makes grants for work across the UK, aiming for a good spread of funding across the regions, as well as nationally-focussed projects. The area where the highest number of grants were made was in the North West121 grants), and 17 grants were made for national work. Whilst 9 grants were made in Scotland, and 7 in Wales, there were none this year in Northern Ireland. This was largely due to a very small number of applications Isevenl from Northern Ireland, none of which were a good fit for the criteria - five of them being in the Young People programme.
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 The pie chart below shows the split between geographic region for grants committed. C8nlral &>ulh 451 ArVO • Ea51 Midlands • North West • 740K sJIh East • Soulh Wèst UKasawho WA • We51 • From the 748 application$1597 last yearl reported on during the year, 6211456 last yearl were refused. This resulted in an overall success rate of 17% which was lower than in recent times. The People with Mental Health Problems programme and Young People programmes had succes5 rates of just IO% and 12%. There are many, and varied reasons for this. A number of Mental Health applications were focused on wellbeing support around low level mental health issues, whereas the Foundation has a focus on supporting application5 for moderate to high level mental health conditions. For Young people applications, the reasons were more mixed but included targeting the wrong age group to a poor fit to the stated criteria. In addition, some applicants did not fit the organisational criteria of the Foundation. 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
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 future. Trustees consider that a large proportion of its tapital 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 free funds the Foundation held was £24,513,404 12025.. £21,941,351), being the total of unrestricted reserves le55 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. The Trustees estimate that a minimum reserve (excluding investments) equivalent to one yearfs 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 reserve5, excluding investments, amounted to £66,034 and annual running costs for the year amounted to £82,709. The Trustees are satisfied that they hold sufficient operational reserves to meet the day to day needs of the Foundation. However, the total reserves lintluding investments) 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 formal 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 seven 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 IACFI. 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.
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 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 Director to implement these, and they provide all appropriate advice and guidance. During the year, the Foundation's Director, Gill Aconley administered the Foundation's business on a day-to-day basis. This was the first year Gill had been in post as the sole employee. In addition, for the past 24 years the office was located in York, though during 2025 the landlord of the premises gave notice that the building was to be sold. New office5 premises were secured and the office moved in November 2025, to the market town of Kirkbymoorside in North Yorkshire, closer to the Director's home. Trustees generally meet three times a year, recently meetings have taken place in the offices of the investment management company, Canaccord. Reports by the office are made to the Trustee5 at every meeting with regular communication with the Chair between meetings. 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 cost5 represent approximately 12.6% of grants committed. The Trustees are grateful to Gill for her work in administering 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 impact on vulnerable individuals and across communities faced with higher cost of living and pressures on public services. Where appropriate, they aim to support core and running costs of organisations, rather than new projects or work. Over the past two years there have been increasingly high demand for grants and therefore, Trustees continue to review the Foundation's priorities and focus 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 applicant5 from wasted effort and disappointment, although this mean5 that the guidelines list a
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 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 was redesigned and refreshed recently, and gives better guidance to those groups and organisations looking towards the Foundation for support, including providing 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, 15 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 updates and policy statements from the staff to help refine or make changes to the Foundation's grant-making policy. The Trustees will continue to review the Foundation's work during the coming year and continue to reserve the right to offer larger grants at their discretion. Thanks M05t importantly, the Trustee5 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 Trustee5' report and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel- 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: select 5Ultable accounting policies and then apply them consistentlyi observe the methods and principles in the Charities SORP- make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statement5,' prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
THE ALLEN LANE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2026 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 IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the a55et5 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: Claire Hitchcock, Chair of Trustees 26 June 2026 10
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ALLEN LANE FOUNDATION Opinlon We have audited the financial statements of The Allen Lane Foundation for the year ended 31 March 2026 which comprise Statement of Finantial 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 Practicel. In our opinion the financial statements= give a true and fair view of the state of the charit¢5 affairs as at 31 March 2026 and of its incoming resources and application of resources, including its income and expenditure 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 IUKI IISAS IUKII 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 a5 a going contern 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.
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: the information given in the financial statements is inconsistent in any material respect with the trustees, report,. or Sufficient accounting records have not been kept; or the 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 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 charitWs 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. 12
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 condurted in accordance with ISAS IUKI will always detert 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 15 detailed below.. We obtained an understanding of the legal and regulatory frameworks within which the charity operate5, 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 estimate5 for biases. Owing to the inherent limitation5 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.or auditorsres onsibilities. This description forms part of our auditor's report. 13
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, a5 a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken $0 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 Y030 7XZ 14 July 2026 14
THE ALLEN LANE FOUNDATION STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026 Unrestricted fund5 Total 2026 Total 2025 Note5 Income from: Investments 750,005 750,005 761,210 Total income 750,005 750,005 761,210 Expenditure on: Raising funds Charitable activities 145,439 819,656 145,439 819,656 134,452 863,578 Total expenditure 965,095 965,095 998,030 Net expenditure before net galnsl losses on investments 1215,0901 1215,0901 1236,8201 Net gainsllosses on investments 2,787,002 2,787,002 22,709 Net movement in funds 2,571,912 2,571,912 1214,1111 Reconciliation of funds: Total f unds brought forward Net movement in funds 21,941,915 2,571,912 21,941,915 2,571,912 22,156,026 1214,1111 Total fund5 carried fonAYard £ 24,513,827 £ 24,513,827 £ 21,941,915 The notes on pages 18 to 33form part of these accounts. 15
THE ALLEN LANE FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2026
| Notes 2026 £ Fixed assets Tangible assets 11 423 Investments 12 24,447,793 24,448,216 Current assets Debtors 13 7,908 Cash at bank and in hand 19 276,420 284,328 14 (203,717) Net current assets 80,611 Total assets less current liabilities 24,528,827 15 (15,000) Total net assets £ 24,513,827 The funds of the charity: Unrestricted funds 16 24,513,827 Total funds £ 24,513,827 Creditors: amounts falling due after more than one year Creditors: amounts falling due within one year |
5,513 562,799 |
2025 £ 564 21,622,735 |
|---|---|---|
| 21,975,165 (33,250) |
||
| £ 21,941,915 | ||
| 21,941,915 | ||
| £ 21,941,915 |
The notes on pages 18 to 33 form part of these accounts.
Approved by the Trustees on 26 June 2026 and signed on their behalf by:
Claire Hitchcock, Chair of Trustees
THE ALLEN LANE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2026 2026 2025 Notes Cash flow5 from operating activitie5 Net cash used in operating activities 18 1998,328) 1978,2041 Cash flow5 from investing artivities: Dividends, interests and rents from investments Proceeds from sale of investments Purchase of investments 750,005 3,275,103 (3,313,159} 761.210 3,322,442 12,898,495) 12 Net cash provided by investing activities 711,949 1,185,157 Change In cash and cash equlvalents In the year 1286,379) 206,953 Cash and cash equivalents at the beginnlng of the year 562,799 355,846 Cash and cash equivalents at the end of the year 19 £ 276,420 £ 562.799 The notes on pages 18 to 33form part of these occounts. 17
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 I. ACCOUNTING POLICIES al 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 l of these financial statements. The nature of the charity's operations and principal activities are the making of grants for general charitable purposes. bl 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 IFRS 1021 (effective l January 20191 Icharites SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 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,. Thi5 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 IFRS 1021 issued on 16 July 2015 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from I 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. cl 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 2026. 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. 18
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 I. 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. dl Incorne 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 35 share5. 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. 19
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 I. ACCOUNTING POLICIES l¢ontinuedl h) Taxation The charity is considered to pass the tests set out in Sch. 6, para. l 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 $537 or 5. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 11 Tangible fixed assets and depreclation 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 jl 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 le55 impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/lLossesl on investments, in the statement of financial activities. kl 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. 11 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. ml 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 benef it will be required in settlement, and the amount of the settlement can be estimated reliably. 20
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 I. ACCOUNTING POLICIES l¢ontinuedl 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 good5 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 a5 basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ol 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. pl Pen5ion5 Pension contributions paid by the charity into defined contribution pension schemes on behalf of its employees are charged to the statement of financial activities. ql 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. 21
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 2. INVESTMENT INCOME Unrestricted Funds Total 2026 Totol 2025 Income from UK listed investments Interest receivable 718,413 31,592 718,413 31.592 722,336 38,874 750,005 750.005 761,210 3. COSTS OF RAISING FUNDS Unrestricted Funds Total 2026 Totol 2025 Investment management fees 145,439 145,439 134,452 145,439 145.439 134,452 4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Summary by fund type Unrestricted Funds 2026 Total Funds 2026 Total Funds 2025 Grants Committed Inote 51 Support Costs (note 61 Governance costs (note 71 727,907 66,167 25,582 727,907 66,167 25.582 735,420 95,950 32,208 819,656 819,656 863,578 Summary by expenditure type Stt7ff costs Other Costs 2026 Total Funds 2026 Total Funds 2025 Depreciation 2026 2026 Grants Committed Inote 51 Support costs (note 61 Governance costs (note 71 727,907 17,918 13,520 727,907 66.167 25,582 735,420 95,950 32,208 48,136 12,034 113 28 60,170 141 759,345 819.656 863,578 22
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENOED 31 MARCH 2026 ANALYSIS OF GRANTS 2026 2025 Grants to institution5 Grants committed Inote 22 Grants withdrawn or released 740,101 {12,194) 752,526 117,1061 727,907 735,420 For further details of grants committed during the year see note 22. A reconciliation of grant commitments is as follows: 2026 2025 Commitments brought forward Grants committed Inote 221 Grants withdrawn or released Grants paid 210,289 740,101 {12,194) 1762,6631 190,641 752,526 117,1061 1715,7721 Grant5 carried forward 175,533 210,289 Grant commitment5 2026 2025 of which payable within one year of which payable after one year 160,533 15,000 177,039 33,250 175,533 210,289 Grants committed- by funding programme 2026 2025 People experiencing mental health issues Offenders and ex-offenders People experiencing violence or abuse Older people Asylum-seekers and refugees Gypsies, Roma and Travellers Young people 128,960 66,005 123,387 149,999 101,132 20,190 150,428 123,015 95,365 87,079 202,869 81,383 23,520 139,295 £ 740,101 £ 752,526 23
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 6. SUPPORT COSTS Charitable ottivities 2026 Governunce tosts 2026 Totol funds 2026 Total funds 2025 Premises Office costs Staff travel and subsistence Sundry expenses Wages and salaries National insurance Pension cost Allen Lane lecture Depreciation 9,329 6,014 2,078 498 43,568 2,332 1,503 519 125 10,892 11,661 7,517 2.597 623 54,460 9,783 10,260 3,253 384 77,789 3,224 7,516 7,540 188 4,568 1,142 5,710 113 28 141 66,167 16,542 82,709 119,937 Total 2025 95,950 23,987 119,937 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. 7. GOVERNANCE COSTS Unrestricted funds 2026 Totul funds 2026 Total funds 2025 Accountancy fees Audit fee Trustees, travel and accommodation expenses Support costs Inote 61 3,870 4,506 664 16,542 3,870 4,506 664 16.542 2,695 4,313 1,213 23,987 25,582 25.582 32,208 Total 2025 32,208 32,208 8. AUDITORS, REMUNERATION The auditors, remuneration amounts to an audit fee of £4,50612025 £4,313), and accountancy fees of £3,87012025 - £2,695). 24
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 9. STAFF COSTS Staff costs were as follows.. 2026 2025 Wages and salaries Social security costs Other pension costs 54,460 77,789 3,224 7,516 5,710 60,170 88,529 The average number of persons employed by the charity during the year was as follows.. 2026 Alo. 2025 No. No employee received remuneration amounting to more than £60,000 in either year. The key management personnel of The Allen Lane Foundation includes the Executive Secretary. The total employee benefits of the key management personnel were £60,17012025- £88,529). 10. TRUSTEES, REMUNERATION AND EXPENSES During the year, Trustees did not receive any remuneration or other benefits12025 - £nill. During the year ended 31 March 2026, a total of £664 of expenses were reimbursed or paid directly to 5 Trustees12025- £1,213 to 5 Trustees). 11. TANGIBLE FIXED ASSETS Office equipment Cost or valuation At l April 2025 Additions At 31 March 2026 6.278 6,278 Depreciation At l April 2025 Charge for the year At 31 March 2026 5,714 141 5,855 Net book value At 31 March 2026 423 At 31 March 2025 564 25
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 12. FIXED ASSET INVESTMENTS Listed inve5tment5 Valuatlon At l April 2025 Additions Disposals Revaluations 21,622,735 3.313.159 13,199,367) 2.711.266 At March 2026 24.447.793 Investments at market value comprise= 2026 2025 Listed investments 24.447.793 21,622,735 The historical cost of listed securities as at 31 March 2026 was £15,147,70312025 - £14,406,397). All the fixed asset investments are held in the UK. 13. DEBTORS 2026 2025 Prepayments and accrued income Accrued income 2,408 5.500 2,733 2,780 7.908 5,513 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 2025 Accruals and deferred income Grant commitments 43,184 160,533 39,407 177,039 203.717 216,446 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2026 2025 Grant commitments 15,000 33,250 26
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 16. STATEMENT OF FUNDS Statement of funds - current year Balance at I April 2025 GaiTn5/ (Losses) Balance at 31 Morch 2026 Income Expenditure Unrestricted fund5 General Funds Revaluation reserve 14,777,509 7,164,406 750,005 {965,0951 75,735 2,711,267 14,638,154 9,875,673 21,941,915 750,005 {965,0951 2,787,002 24,513,827 Statement of fund5 - prior year Balance ot I April 2024 Goins/ (Losses) Bolonce at 31 Morch 2025 Income Expenditure Unrestricted funds General Funds Revaluation reserve 14,737,488 7,418,538 761,210 1998,0301 276,841 1254,1321 14,777,509 7,164,406 22,156,026 761,210 1998,0301 22,709 21,941,915 27
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 17. ANALYSIS OF ASSETS BETWEEN FUNDS Analysis of net assets between funds- current year Unrestrirted funds 2026 Total fvnds 2026 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 423 24,447,793 284,328 1203,7171 115,0001 423 24.447.793 284,328 1203,717) 115,000) 24,513,827 24,513,827 Analysis of net assets between funds- prior year Unrestrirted funds 2025 Tott71 funds 2025 Tangible fixed assets Fixed asset investments Current assets Creditor5 due within one year Creditors due in more than one year 564 21,622,735 568,312 1216,4461 133,2501 564 21,622,735 568,312 1216,4461 133,2501 21,941,915 21,941,915 18. RECONCILIATION OF NET MOVEMENT IN FUNDSTO NET CASH FLOW FROM OPERATING AcfiviTES 2026 2025 Net lexpenditurel /income/ for the year las per Statement of Financial Activities) 2,571,912 1214,1111 Adjustments for- Depreciation charges IGainsl/losses on investments Dividends and interest from investments Oecrease/llncreasel in debtors IDecreasel/lncrease in creditors Net cash used in operating activities 141 12,787,002) 1750,0051 12.3951 130,9791 1998.3281 188 122,7091 1761,2101 912 18,726 1978,2041 28
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 19. ANALYSIS OF CASH AND CASH EQUIVALENTS AND CHANGES IN NET DEBT At l April 2025 Cash flows At 31 March 2026 Cash at bank in hand 562,799 {286,3791 276,420 Total cash and cash equivalents 562,799 {286,3791 276,420 20. RELATED PARTY TRANSAcfioNS 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 2026 2025 The total future value of minimum lease payments is as follows.. Within one year Within one to two year5 In two to f ive years 7,200 7,200 12,000 7,174 £ 26,400 £ 7,174 The amount of non-cancellable operating lease payments recognised as an expense during the period was £10,38212025- £10,102). 29
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 22 GRANTS cOMMIED 2026 Grants committed in the year were as follows.. ACCEPT Action Against Abuse Active Future Northumberland CIC Adopt A Grandparent Age Concern North Dorset Argyll and Bute Befrienders SCIO Ark Of Hope Foundation For All Nations Art Therapy Yorkshire Ask Pip Befriended Bethel Trust Port Talbot Brighter Futures Social Investment CIC Broadside Creatives Caldicot Town Team Castle Douglas Day Centre for Older People Change Collective Changes Tamworth Charity for Action on Spiritual Abuse (previously Replenished Lifel Christ Church Armley Community Projects Connecting Youth CIC Coventry Migrant Women's Houses Darlington Assistance for Refugees Darwen Asylum Seeker Refugee Enterprise IDAREI De Butterfly CIC Dementia Together Wirral DERIC Youth & Community Project DMAT Services Ltd Embracing Age ENDING COERCIVE OFFENDING CIC Engage Trust UK Ex Factor Health and Fitness Club Families in Care Folio Theatre Fraserburgh and District Men's Shed SCIO Good Neighbours in North Cardiff Grass Routes Movement CIC IGRMI Greater Manchester Neshomo CIO Gwennie's Getaways Hastings and St Leonards Men's Shed Healthy Hopes Cumbria LTD Community Interest Company Sub total 6,000 7,000 2,400 8,000 3,000 5,000 5,000 5,200 4,000 7,000 2,100 7,000 10,000 1,000 2,500 7,800 5,000 5,000 10,000 3,000 5,000 5,000 5,000 5,850 5,323 5,000 5,500 8,000 12,000 7,500 1,000 5,900 8,162 3,500 9,000 5,000 2,000 2,000 3,000 8,000 217,735 30
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 22 GRANTS COMMITTED- CONTINUED 2026 Sub total brought forward Herts Domestic Abuse Helpline Highlands Psychoanalytic Collective Himaya Haven Community Interest Company Home-start Surrey Heath HOPE4MORE HubL Norwich CIC Justite Futures Community Interest Companv Kintardine and Deeside Befriending Led by the Wild CIC Leicester Musical Memory Box Levenshulme Old Library Living Keys Local Welcome CIO ManLeigh CIC Marsham Older Peoples Project Millrace Foundation Mind Your Music Music4Wellbeing Mycarematters 2020 CIC New Hall Kidz LTD Nottingham Children, Young People and Their Families Project Oasis One World Choir Our Neighbourhood CIC Oxfordshire Discovery College Parental Education Growth Support I PEGS I PeerTalk Charitable Foundatio PEP In UK Prisons CIC Physical Empowerment CICI Prodigal Arts Proton Foundation Radiate Arts Release Mates Resolute Women's Support Service Revoelution Right to Resist Roma Alliance Impact SA Foundation Safempowerment.co.uk Saheliyaan Asian Women's Forum Shanti Aid 217,735 9,000 7,500 5,000 6,000 5,000 3,500 10,000 9,000 4,000 8,000 2,500 10,000 5,000 7,500 2,000 2,000 3,000 10,000 7,400 9,000 5,090 3,500 6,000 4,000 9,220 12,000 5,205 8,000 6,000 4,988 4,916 7,500 5,000 5,500 5,000 2,000 5,000 6,400 4,100 5,000 457,554 Sub total 31
THEALLEN LANE FOUNDATION NOTESTO THE ACCOUNTS FOR THE YEAR ENDEO 31 MARCH 2026 22 GRANTS COMMITTED- CONTINUED 2026 Sub total brought forward SHIFT Portsmouth Shift Together CIC SIGHT& MINO CIC Social Circles CIC Somewhere Else South Brent & District Caring South Lakeland Phoenixes Spear Bournemouth St Helens Mind St Monita's Housing Ltd St Paul's Community Partnership Sunderland Literacy Aid CIC Support for Survivors Charity SupportED Switch Youth Services Sylfaen Cymunedol Cyf TCD The Absolute Music Trust The Autumn Centre The Bank of Dreams and Nightmares The Britannia Youth Organisation CIC The Esther Proje¢t- Women of Worth CIC The Forgotten Boys CIC The Grace Period Project The Growing Space Iwincantonl Limited The Inspirational Women The lade L Roberts Project The luno Project The Launchpad Collective The Layberry Foundation The London Bus Theatre Company The Mental shift CIC The Mindful Foundation The Saffires Project The Sparkle Foundation UK CIO 01 Their Voice TLC Inverness Totnes Rural Area Youth Engagement ITRAYEI Project Tracks&Dales Trinity Methodist Church 457,554 5,860 6,000 9,360 6,000 5,000 7,500 2,000 6,000 8,000 7,200 5,500 3,000 7,000 10,000 10,000 5,000 7,500 5,000 2.000 7,500 7,000 3,600 7,000 1,000 9,000 5,000 3,000 6,190 8,000 4,000 4,850 6,500 3,000 10,000 7,000 7,667 6,000 8.000 3,000 5,000 697,781 Sub total 32
THE ALLEN LANE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 22 GRANTS COmmIED- CONTINUED 2026 Sub total brought forward TWOCO-Women of Justice Arise We Are Listening Wolverhampton City of Sanctuary Women's Integration Network ISCIOI YOPEY You My Sister Young People Taking Action 697,781 7,820 3,000 3,000 4,000 6,000 7,500 11,000 740,101 33