Regr$ter•d ¢ompany number 04601338
Registered charlty number 1099709
The James Dyson Foundation
Annual report and financial statements
for the year ended 31 December 2024
THE
JAMES
DYSON
FOUNDATION

The James Dyson Foundation
Annual report and financial statements for the year ended 31
December 2024
Contents
Trustees, directors. officers and advisors
Trustees. rèport for the year ended 31 December 2024
Independent auditorfs report lo the mernbers of The James Dyson Foundation
Stslernenl of financial activities
13
Balance sheet
14
Statement of cash flows
15
Notes lo the financial slalemenls for the year ended 31 Decernber 2024
16

The James Dyson Foundation
Trustoos, diractors, officers and advisors
Registered charlty name
The James Dyson Foundation
Charlty number
1099709
Company registration number
04601338 (England and Wales}
Registered address
Tetbury Hill
Malmesbury
Vmltshire
United Kingdom
SN16 ORP
Truslees and dlr¢Gtors
Sir J Dyson
Lady D Dy50n
V Wesl
Foundatlon manager
Juliet Charman
Independent auditor
Crowe U.K. LLP
Statutory Auditor
4th Floor
Sl James House
St Jamos Square
Chellenham
GL50 3PR
Bankers
Lloyds Bank plc
55 Corn Street
Bristol
BS1 1HT

The James Dyson Foundation
Trustees, report for the year ended 31 December 2024
The TTUStees, who are also directors for the purposes of cornpany law, present their report and the
audited financial slalements of The James Dyson Foundation I the Foundation.. °JDF', 'the Charity'l
for the year ended 31 December 2024.
Rèference and administrative detalls
Reference and adminislralive details a￿ shown in the schedule of Trustees, directors. officers and
advisors on page 1.
The financial slalemenls comply with the Memorandum and Articles ofAssocialion and are prepared in
accordance with Accounting and Reportinq by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of I￿land IFRS 1021 leffeclive 1 January 20191- (Charities SORP
IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021,
the Companies Act 2006 and the Charities Act 2011.
The James Dyson Foundation Is a Ghantable company limited by gLJarantee IregistratlDn number
048013381 and a charity registered with the Charity Commission Iregistration number 10997091.
Structure, governance and management
Governing document
The Foundation is governed by ils Memorandum and Articles of Association dated 26 November 2002
and amended on 1 September 2003.
Govemance of the Foundation
The year under review is the twenly-first operating and accounting period of the Foundation during
which the Trustees met once to review the Foundation's policie5 and procedures.
As the activities of the Foundation have grown. the TrLJStees have decided on a schedule of two
meetings per year. supplemented by additional email updates and meetings as necessary. A financial
expert is also in attendance al these meetings lo advise the Trustees on financial matters.
The Trustees have delegated the day to day running of the Found8tion to the Global Head ofthe James
Dyson Foundation, Juliet Chamian, and her team. Financial and accounting support is provided by the
Weybourne Limited team located in Malmesbury. Pay and remuneration of Key Managemènt Personnel
15 reviewed each year and goes through an internal and external ben¢hm8rking process The salaries
are then agreed through the budget process at the Trustee's meeting.
The Trustee5 have reviewed the Charity Governance Code and are aware of their responsibilities. The
Charity Governance Code will be made available lo new Trustees.
Recruitment training of Trustees
Members of the Board of Trustees are appointed by the whole Board to provide the skills identified as
being necessary for the good governance of the Foundation. The Trusl&es who served during the year
are Iisled on page 1. The Trustees are fully aware of their responsibilities undèr ch8rity and company
law having received information In the form of written documentation and through a presentation on
Tru51ee duties and obligations given by the Foundation's external advisers. 11 is intended that this will
be made available to all newly appointed Trustees as well. New Trustees are provided with the
Foundation's governing document and lalesl guidance from the Charity Commission.
Ri8k mJnagement
In light ol the governance guidance contained within the Charity Governance Code, wth the Information
available online. the Global Head of the James Dyson Foundation lon behalf of the Trusleesl reviews
the major slralegic. business and operational risks lo which the Foundation is exp058d A risk register
is maintsined using the platform 'CGR Foundation, and reviewed by the Head of Risk and Audit for
Weybourne Ltd, on behalf of the Jame5 Dyson Foundation.

The James Dyson Foundation
Trustees. report for the year ended 31 Decernber 2024
(continued)
Syslerns have been established lo miligale those risks and procedures Implemented lo minimise any
polenlial impact on the Foundation should any of those risks materialise. The principal risks and
mitigation actions includo..
Decline in income from donations.,
Dyson commils a charitable gift to the James Dyson Foundation annually and builds this
pledge on their balance sheet. A budget and anticipated spend is submitted by Ihe JDF Io
Dyson's finance le8m for Dyson Board approval in advance of spend. This is supported by
personal letter of support from Sir James Dyson lo honour any obligations made by the
charity if Dyson 15 unable lo donate sufficiently.
Loss of key staff;
Business continuity documents are kept up to date, as well as a shared document drive.
Appropriate notice periods are slipulaled In employment contracts and there is succession
pSanning work undertaken
Reputational damage..
The James Dyson Foundation team work5 closely with the Dyson communication5 team,
Weybourne leadership and a charity lawyer who collectively provide guidan￿ on reputation.
Charity Commission and governance code gLJidance is followed on all activities ID ensure work
is carried out lo a high standard and in ¢omplian¢e with the law and relevant regulation. in turn
avoiding repulalional risk.
Loss of confidential information.
The James Dyson FoLJndalion is fully supported by the Weybourne IT team, and therefore
benefits from the same cyber security policies and procedures.
Fraudulont activity.
The James Dyson Foundation is fully supported by the Weybourne finance team, and therefore
benefits from the same financial controls and securities such as segmenlalion of duties and
formal delegated authority protocols.
Relatedparty transactlons
The Foundation's principal donor Is Dyson James Group Limited. Sir James Dyson. a Trustee of the
FoundatlDn. is the controlling party of Dyson James Group Limited Isee note 161.
Financlal rlsk manag•m•nt
Price risk
The Foundation receives donations from Dyson James Group Limited based upon ils budgets lo finance
the Foundation's activities and Incorporates this information into its business plans. This process is
reviewed annually. Prices of materials purchased are subject lo contracts with suppliers, based on
current market pnces.
Credit risk
Credit risk on amounts owed lo the Foundation is low, as r(s principal source of funds is Dyson James
Group Limited.
Liquidity risk
The Foundation matches commitments to ils creditors with the expected liming of ￿sh receipts in
respect of donations from ils principal benefactor Dyson James Group Limited. Dyson James Group
Limited has undertaken lo provide funds lo the Foundation to meet its liquidity requirements.
Inte￿st rnte and cash flow risk
The Foundation places surplus funds on short lerni deposit with Lloyds Bank

The James Dyson Foundation
Trustees, report for the year ended 31 December 2024
(continued)
Objectives and actlvltles
The primary objects of the Foundation, as stsled In its governing document, are as follows..
To advance education and training, particularly in the fields of design, engineering and
technology. This work can lake a number of forms including the free provision of support
resources for teachers of design and technology in schools, the running of design engineering
workshops and lectures in schools and universities, as well as bursary schemes and
collaboratwe projects.
To support medical and scientific research.
To support charitable and educational projects in the region in which The James Dyson
Foundation operates.
The statement of financial activities for the year ended 31 December 2024 is sel out on page 13 of the
financial statements. A summary of the financial results and the work of the Foundation during the year
are sel out on pages 4 10 7.
Grant making policy
Grants are determinèd by thé TnJst&ès in aceordance with the oljjects of the Foundgtion Application5
for grants are considered by the Foundation team who make recommendations lo the Trustees in line
with Foundation objectives.
Achlevements and performanc8
The Foundation's income was £5,490,14512023.. £8,149,070). The Foundation thanks all its supporters
for their work and generosity, particularly Dyson Jarnes Group Limited, ils main benefactor.
The Foundatlon's maln actlvltles were as follows..
In 2024, the James Dyson Award ran in 29 countries and regions. The award is the James Dyson
Foundation's intérnational design competition. 11 celebrates, encourages, and inspires the next
generation of design engineers. To encourage entries into the competition hundreds of workshops and
presentations were given lo students al universities around the globe. Nearly 2,000 student entries
were received.
The Medical winner of the Award was Athena, an affordable and portable device for chemotherapy
patients that uses scalp cooling lo prevent hair-loss, invented by Olivia Humphreys from the University
of Limerick. Ire18nd. The Sustainability winner was Airxeed Radiosonde. 8 reusable. nature-lnspired
sensor for weather forecasting invented by Shane Kyi Hla Win and Danial Sufiyan Bin Shaiful from
Singapore University of Technology and Design. Both winners received £30,000 cash prizes lo support
the further development of their inventions.
The competition gathered global interest from the press, wth coverage in major media oullels such as
BBC Radio 4, Irish Examiner. ELLE DÈCOR and 8TV Mandarin News. In lolal. more than 1.000 pieces
of coverage were genewled alongside extensive social media engagement reaching millions of people-
powerful way lo expand the positive message of engineering. Since the start of the competition, over
70% 01 past intemalional winners are now commercialising their inventions, amid a backdrop where
over 900kn ol start-ups fail.
Almost half a million students acr055 the world were inspired about engineering through free
educational resources based on Dyson's approach lo engineering in 2024. These resources give an
insight into the life ofa working engineer. The ￿SOurCeS a￿ free lo order and download from the James
Dyson Foundation website.

The James Dyson Foundation
Trustees. report for the year ended 31 December 2024
(continued)
The Foundation's educational resource, Engineering solutions.. Air pollution. was delivered lo schools
acros5 10 countries The resource educates students on how engineering can solve global problems,
focusing on air pollution. 1,000 air quality monitoring device8 have been donated to schools across the
world since the ￿sOUrce launched in 2020.
The Foundation's new resource Engineering solutions.. The future of farming was delivered lo schools
across the UK. The resource enables students lo explo￿ how design and engineering can be applied
to farming. The resource includes a new resource box which gives students acces5 to equipment to
grow their own crops allowing Ihern lo understand how food is grown and improved through engineering
principles.
The Foundatinn developed a new resource in 2024 c211ed Enginooring solutions.. Hair Science.
Designed lo complement Science, Design and Technology and Malhemalics curriculums students leam
about hair types, hair damage and the relationship between hair and identity, and how this knowledge
informs engineering solutions to hair $tyling
Nearly 700 educational engineoring workshops and events were delivered. rea¢hing 2.5 million
students. This included rapid prololyping workshops that challenge students lo design and build
solutions lo air pollution as well as everyday problems In a home or school environment., robotlCS
workshops that challenge students to code robots to navigate a space. and workshops at universities
across 30 COLJntries and regions to inspire students lo enter the James Dyson Award. The Foundation
a150 participated in large scale Science, Technology ,Engineering, Arts and Malhemalics ISTEAMI
events challenging young people lo gel hands-on with engineering challenges. These workshops and
events were supported by almost 800 DysDn engineers and people.
Scholarships were awarded to students at the University of Cafflbridge. Scholarships were given
lo three students at Murray Edwards College at the University DI Cambridge lo provide financial support
to female engineering students. Two additional PhD students were awarded a scholarship al Corpus
Christi College at the University of Cambridge lo support their research into Agri-Roboti¢s. bringing the
total PhD students supported by this scholarship to six. The Foundation also awarded six project
bursaries lo students studying engineering al the Dyson Centre for Engineering Design at Cambridge
University.
Providing space for Science. Technology. Engineerlng, Arts and Mathemati¢$ ISTEAMI through
our building projects. In 2023 the Foundation pledged £6 million lo Malmesbury C ol E Primary School
in the UK lo fund the school's expansion and build a STEAM centre lo educate future engineers and
scientists. The project received approval from the Secretary of Stale for Education in February 2024
with planning determination due in mid-2025. The Foundation's £35 fflillion project lo rgnovale Grade
11 listed building Holt Hall into a Preparatory School at Gresham's School in Norfolk UK received
planning permission in 2024, with building work lo commence in early-2025.
Over 25 local charitsble projects were supported in Malmesbury UK, as part of the Foundation's
annual Gomii)unily >uppuil fund, including Malmestiury Foocl Bank, Malmestyury Carnival, local Schools.
hospitals and youth clubs.
In the Americas, over 200,000 school students across the US, Canada and Mexico were reache¢J
through engineering workshops and resources, giving them a glimpse into the exciting world of
engineering. A total of $300.000 was raised and donated lo charities in Chicago, Toronto and Mexico
City to provide students with engineering and Scien￿ enrichment opportunities. with some csonalions
also supporting medical research advancements.
In Asia Pacific, over 380 cn9ineering workshops and events were held across China, Japan, Malaysa,
Singapore. South Korea, Thailand and Philippines reaching nearly 2.5 million students from primary lo
univttrsily level. The Foundation continued its collaborations with the Ministry of Education in Singapore
and hAalaysia, organising large-scale Science. Technology ,Engineering and Mathematics ISTEMI
campaigns encouraging edu¢alors and students to get excited about engineering.

The James Dyson Foundation
Trustees, report for the year ended 31 December 2024
(continued)
Flnancial revlew and result5 for the year ended 31 December 2024
Results for the year ended 31 December 2024
The slalemenl of financial activities for the year is set out on page 13 of the financial slalemenls.
Incorne for the year was £5,490.14512023.' £8,149.0701 The Foundation's main source of income is,
and is expected lo remain. donations from Dyson James Group Limited. The Foundation made
donations and grants lolaling £4,817,654 12023.. £7,527,998> to further ils educational objectives, of
which the largest donation was £2,580,102 to Gresharn's School in respect of the Holl Hall Project.
The Foundation continued ils Scien￿ and medical research and social mandates with donations of
£244.49612023'. £219,160) and £58,09712023.' £54,684) respectively. These donations (both financial
and in the forrll of vacuum cleaner5 for raffle prizes) were distributed following either discussions with
the relevant charities or having received and reviewed applications for support.
Overheads, which comprised SUPPDrt costs lotsled £532,28812023". £365.3991 or 9.7Vo12023.' 4.4Q/ol
of income for the year.
Investment powents, policy & perfomlance
The Foundation has wide Investment powers. Funds were held in cash, in inleresl-bearing accounts
with LSoyds Bank to meet short term requirements.
Reserves
The Charity does not have a reserves policy and does not re￿1ve any donations, grants, and any other
sources of fundraising Whe￿ restrictions are imposed.
The Foundation's fixed costs ale not significant and as a general policy significant reserves are not
maintained. since regular lunding is provided by Dyson James Group Lirniled and the Trustees prefer
lo request donations only when planned expenditure within a twelve-month period is due lo exceed
current reserves.
The Trustees are confident that the work of the FoundaliDn can continue and Ihal they can rely on the
continuecj funding from the Dyson group of companies for the fciE5eedble lulure. Total deficit at the
year-end was £1169,599112023 Deficit.. £17,16911, 811 of which was unreslrided. The deficit was due lo
a drawdown of funding from Dyson James Group Limited not h8ving been requested until after the year-
end. It is usual policy to request donations only al the point when they are required and there was
Sufficient cash available within the bank account, with a balance of £578,466 al the year-end, to allow
for all CDmmilmenls to be comfortably mel for the following month Funding of£3.4m was received from
Dyson James Group Limited on 10 January 2025.
The Trustees have considered the liming of when the commitments are due for payment and will
request funding from Dyson James Group Limit¢d, as required, from pledged funds. Tho commitments
are fully supported by Dyson.
Managernenl of the charity have undertaken risk assessment. planning and forecasting given current
global challenges including the cost of living crisis and rising geopolilical tensions. A cashflow forecast
has been prepared lo 2028 and on this basis the Trustees believe the charity's financial resources and
contingency planning is sufficient lo ensure the ability of the charity to continue as a going concern for
the foreseeable future, being al least hvelve months from the date of approval of these financial
stslements and therefore have prepared the financial slalemenls on a going concem basis.
Thè Jamès Dyson Foundation is 100% shareholder of a sijhsidiary ttompany, Turkey Oak Limited. The
enlity has not traded in the year lo 31 December 2024 and as a result has not been consolidated in
these accounts A First Gazette notice was published on 14 January 2025, seeking to strike Turkey
Oak Limilgd off the register from 14 March 2025.

The James Dyson Foundation
Trustees, report for the year ended 31 December 2024
(continued)
Plans for future periods
The Foundation's main objectives for the next year are listed below.
Grow the quallty and reach of the Jarnes Dyson Award.. Successfully run the competition in 28
countries and regions. Increase the quality of entries lo the James Dyson Award
Deliver cutting4dge educational resources. workshops and events: Deliver over 2,000 physical
resources (Challenge Cards, Design Process Box, Engineering Box, Engineering solutions". Air pollution
kits and Engineering solutions. The future of farming boxl and 15.000 downloadable resources reaching
students across the UK, Americas and APAC. This includes launching our new educational resource,
Engineering solutions". Hair Science. Grow and enhance STEAM educational outreach through over
800 WDrkshops and events across the UK, US, Singapore. Malaysia and the Philippines. Reach over
two million students through our workshops, events and resources.
Celebrate engineering excellence: Continue lo offer s¢holar5hips and bursaries lo students that excel
in the field of engineering. Provide slale-of-the-art STEAM facilities through a £35 million donation lo
build a Preparatory School al Holl H811 al Gresham's School, and 8 £6 million donation lo fund the
expansion of Malmesbury Primary School.
Strengthen our support for local communities and Dyson people's fundraising.. Pledge a fund lo
support charitable organisations local lo Dyson offices and malch-fund Dyson people's fundraising
efforts for global medical research charities.
Continue our long-standlng commitment to advancing Dementia research: Continue to sUPPOrt
the Race Against Dementia Dyson Fellowship and a¢celeralion project, embedding Dyson's
engineering philosophy lo pioneer new research approaches.
Objectives and activities for the public benefit
The TrLJSteès confirm that they have compliecs with their duty in Section 17 of the Charities Act 2011 10
have due regard lo public benefit guidance published by the Charity Commission for England and
Wales.
The objectives of the Foundation are lo advance educab.on and training, particularly in the fields of
design and technology, lo support medical and scientific research, and lo promote the provision of
facilities in the interest ol social and comrnunily welfare. In particular The James Dyson Foundation
Ifn5 10 5UPPQrt pFojeGls in the local Gommunity where il upviul¥￿.
The Foundation carries out these objectives by..
providing grants Iby way of donations and giftsl lo education and training projects, science and
medical research, and Social and community v4elfare". and
rleveloping education resource5 and running projects inlernalionally which are all free al point of
access.
By focusing on these areas, the Trustees achieve their strategic priorities of Èducation. tryaining, and
research. For further details on the Foundation's activities in the year, see 'Achievements. and
Performance, on pages 4 10 7 which highlights the Foundation's wide ranging public benefits. The
Charity had no fundraising activities requiring disclosure under S162A ol the Charities Act.

The Jarnes Dyson Foundation
Trustees, report for the year ended 31 December 2024
(continued)
Tru$tees' responsibilities statgment
The Trustees (who are also directors ol The James Dyson Foundation for the purposes of company
lawl are responsible for preparing the Trustees. Annual Report and the financial slalemenls in
accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United
Kingdom Accounting Slandardsl.
Company law requires the Twslees lo prepare financial statements for each financial year. Under
company law the Trustees must not approve the financial slalements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources. including the income and expenditure, of the charitable
company for that period. In preparing these financial slatemenls, the Trustees are required lo."
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.,
make judgments and eslimales that are reasonable and prudent.,
state whether appliGable UK a¢¢ounting standard3 have been follow¢d, subject to any material
dèpartures disclosed and explained in the financial statements.. and
prepare the financial statements on the going concern basis unless (t is inappropriate lo presume
that the charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that a￿ sufficient lo show and
explain the chanlable company's Iransadions. disclose with reasonable accuracy al any time the
financial position of the charitable Company and enable them lo ensure that the financial slalements
comply with the Companies Act 2006 and Ihe provisions of the charity's constitution. They are al30
responsibl8 for $gf&guarding the assets of the charity and hence for taking rea50nablé stops for the
prevention and delecbon of fraud and other irregularities.
Audltor
Crowe U.K LLP were reappointed as auditors under section 487121 of the Companies Act 2006. Each
of the pèrsons who Is 8 Trustee at the date of approval of this report confirms that..
so far as each Trustee is aware. there is no relevant audit information of which the Charity's auditor
is unaware., and
each Tnjstee has taken all steps that they Dughl lo have tsken as a Trustee lo make themself aware
of any relevant audit information and lo establish that the Charity's auditor is aware of that
information.
This report has been prepared in accordance with the Statement of Recommended Practice
Accounknng and Reporting by Charities and in accordance with the Special provisions Df the Companies
Act 2006 relating lo small entities.
Sioned on behalf of the Trustees
Sir James Dyson Trustse
Dale..
IT i &cJ3S

Independent Auditor's Reportto the Members and Trustees of The James Dyson
Foundation
Opinion
Vve have audited the financial slalemenls of The James Dyson Foundation for the year ended 31
December 2024 which comprise the Slalement of Fin8nci81 Aclivilies. Balance Sheet. Slalement of
Cash FIDW and notes lo the finanaal stalemenls, including a summary of significant accounting policies.
The financial ￿porting 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 Iuniled Kingdom Generally A￿epted Accounting
Practice).
In our opinion the financial ststements".
give a true and fair view of the stale of the charitable company's affairs as al 31 December
2024 and of 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 ofthe Companies Act 2006.
Basis for opinion
INe 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 slalemenls section of OLJr report. We are independent of the
charitable company in accordance with the ethical requirernenls that are relevant lo our audit of the
financi81 st8tement8 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 lo provide a basis for our opinion.
Conclusions relating to going concern
In audiling the financial statements, we have conduded that the Iruslee's use of the going concern basis
of accounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed. we have not identifièd any m8terial Ljncertainties relatino tD
events or cond11ions that, Individually or collectively, may cast significant doubl on the charitable
company's ability lo 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 Iruslees with respect lo going concern are described
n the relevant sections of this report.
other inforniation
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 Ihereon. Our opinion on the financial slalemenls does not Cover the other
information and, except lo the extent otherwise explicitly slated in our ￿pOrt, we do not express any
form of assuran￿ conclusion Ihereon.
Our responsibility is to read the other information and, in doing so. consider whether the other
intormation is materially Inconsistent wlh the financ5al slalements or our knowledge obtained in the
audit or otherwise appears lo be materially misslaled. If we identify such rnalerial Inconsistencies or
apparent material misstatements, we are required lo determine whether this gNe5 rise tts a material
misslatemenl in the financial slalemenls themselves. If, based on the work we have perfomied, we
conclude that there is a material misslalernenl of this other information, we are required lo report Ihal
fact.

IndependentAuditor's Report to the Members and Trustees of The James Dyson
Foundation (continued)
We have notliiFig lu iepurl iTi tliis rEyaid.
Opinlons on other matters prescrlbed by the Cornpanles Act 2006
In our opinion based on the work undertaken in the course of our audit
the information given in the truslges, report, which includes the directors, report prepared for
the purposes of company law. for the financial year for which the financial slalemenls are
prepared is consislenl with the finanaal slalemenls", and
the directors, report included within the Iruslees, report have been prepared in accordance with
applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In light of the knowledge and understanding of the charitable company and ils environment obtained in
the course of the audit. we have not identified material misstatements in the directors. report included
within the Iruslees. report.
Vve have nothing to report in respect of the followng matters in relab'on lo which the Companies Act
2006 requires us to report lo you if, in our opinion".
adequate and proper accounting records have not been kept,. or
the financial slalemenls are not in agreement with the accounting records and relums., or
rtain dis¢losLJres of trLJStees' remuneration specified by law are not made.. or
we havè not recèivèd 811 thé information and explanations we require for our aLJdit'. or
the trustees were not entitled to prepare the financial siatements in accordance with the small
cornpanie5 regime and take advantage of the small companies exemption in preparing the
Iruslees, report.
Responsibllltl8s of trustees
As explained more fully in the Iruslees, respon5ibililies slalemenl sel out on page 8, the trustees Iwho
are also the director5 of the chanl8ble company for the purposes of company lawl are responsible for
the preparation of the financial slalements and lor being satisfied that they give a true and fair view.
and for such Internal control as the trustees determine is necessary lo enable the preparation of financial
slalemenls that are tree from material misslalement. whether due lo fraud or error.
In preparing the financial slalemenls, the trustees are responsible for assessing the charitable
company's ability lo ctsnlinue as a going concern, disclosing. as applicable. mallers related to going
concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate
the charitable company or lo cease operation5, or have no reali51ic allernalive bul lo do 50.
Auditofs re5ponsibilitles for the audit of the financial statements
We have been appointed as auditor under the Companies Act 2006 and report in accordance with the
Acts and relevant regulations made or having effect Ihereunder.
Our objectives are to QDtain reasonable assurance atsout whether ihe finanaal statements as a whole
are free from material misslalernenl, whether due lo fraud or erroT, and lo issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an
audit condu¢ted in accordance with ISAS IUKI will always detecl a material misstalement when it exisis.
Misstslements can arise from fraud or error and are considered material if, individually or in the
aggregate. they could reasonably be expected lo influence the economic decisions of usefs taken on
the basis of these financial slalernents.

Independent Auditor's Reportto the Members and TrustO9s of The James Dyson
Foundation (continued)
Details of the extent lo which the audit was considerecl capable of detecting irregularities. including
fraud and non-compliance with laws and regulations are set out below.
A turther description of our responsibilities for the audit of the financial slalemenls is located on the
Financial Reporting Council's web511e at.. www.frc.or
.uklaudilorsres
part of our auditor's report.
onsibililies. This description forms
Extent to which the audit YRS con$ldered capablg of detec￿ng irregularitles, Includlng fraud
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We identified
and assessed the risks of material misslatemenl of the financial stslement5 from irregularities, whether
due to fraud or error. and discussed these behNeen our audit tpam members We then designed and
performed audit procedures responsive lo those risks, induding obtaining audit evidence suffiaent and
appropriate to provide a ba515 for our opinion.
We obtained an understanding ol 11)e legal and regulatory frameworks wlthin which the chariiable
company operates, focusing on those laws and regulations that have a direct effect on the determination
of material amounts and disclosures in the financial slalemenls. The law5 and regulation5 we
considered in this context were the Companies Act 2008, Charities Act 2011 and Charities SORP IFRS
10212019. We assessed the required compliance with these laws and regulations as part of our audit
procedures on the related financial stslernenl items.
In addition, we considered provisions of other laws and regulations Ihal do not have a direct effect on
the financial statements bul compliance with which might be fLJndamenlal to the charitabl& company's
ability lo operate or lo avoid a material penalty. We also considered the opportunities and incentives
that may exist within the charity for fraud.
We Identified the grealesl risk of material impact on the financial slalemenls from irregularities, including
fraLJd. lo be the Override of controls by management. Our audit procedures ID respond lo these risks
included enquiries of management about their own Identification and assessment of the risks of
irregularities, sample lesling on the posting of journals, reviewing accounting e51imales for biases,
viewing regulatory correspondence including that ¥Mth the Charity Commission and reading minutes
of tneelings ol those charged with governance.
Owing to the inheienl limitations of an audit, there is an unavoidable risk that we may nol have detected
some materfai mi5Staternents In tne financial stalemenls, even though we have properly planned and
performed our audit in accordan￿ with auditing standards. For example, the further removed non-
compliance with laws and regulations lirregularilies) is from the events and transactions reflected in the
financial slalements, the less likely Ihe inherently limited procedures required by auditing standards
would Identify it In addition, as with any audit, there remained a higher risk of non-deleclion of
irregularities. as these may Involve collusion, forgery, intentional omissions. misrepresenlalions, Dr the
override of internal controls. We are not responsible for preventing non-compliance and cannot be
expected lo delect non-compliance with all laws and regulations
These inherent limitations are particularly significant in the case of misstatpmpnl resiilting frorn fraud
as this may involve sophisticated schemes designed lo avoid detection, including deliberate failure to
record Iransaclions, collusion or the provision of intentional misrepresentations.

Independent Auditor's Report to the Members and Trustees ofThe James Dyson
Foundation (continued)
Use of our report
This report is made solely to the charitable company's members, a5 a body, In accordance with Chapter
3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to
the charitable company's members and trustees those matters we are required to slate 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 responsibilily lo anyone olherlhan the chariiable company, the charitable company's members
as a body and the charitable Company's trustees as a body, for our audit work. lor this report, or for the
opinions we have formed.
Tara Weslcoll
Senior Slalulory Auditor
For and on behalf of
Crowe U.K. LLP
Slalulory Auditor
4th Floor
Sl James House
Sl James Square
Chellenharn
GL50 3PR
Date.. 18 lune 2025
12

Reglstered company number 04601338
Registered charity number 1099709
The James Dyson Foundation
Statement of financial activities
(incorporating the income and expenditure account)
For the year gnded 31 DgC8mber 2024
Unrestricted
funds
2024 Total
Funds
2023 Total
Funds
Note
Income from..
Donations
5,450,692
39,453
5,490,145
5.4SO,692
39,453
S.490.145
8,136,084
12.986
Investments
8,149.070
Expenditure on:
Charitable activities
4&5
5,652,535
S.652.53SI ￿8.16?.241
15,652.5351 15,652,535) 18,167,241)
Not lèxpènditurèl l incom&
1162.3901
1162,3901
118,1711
Reconciliation of funds..
Total deficit brought forward at
1 Janua
13
7.169
7.169
11,002
Total deficit carried forward
at 31 December
13
169,559
169,559
7.169
The notes on pages 16 10 25 form part of these financial statements.
13

Règistèrèd company number 04601338
Registered charity number 1099709
The James Dyson Foundation
Balance sheet
As at 31 December 2024
2024
2024
2023
2023
Nole
Non.Current asset5
Investrnent in Tuike
Oak Lirriile(J
Current assèts
Debtors and prepayments
Cash al bank and in hand
13,320
57B 466
2,420
761,205
591,7B6
763,625
Credltors- amounts falllng due
wlthln one
ear
10
702,821
651,825
Not cijrrent
l assets
111,035
111.800
Total assets less Gurrent liabllltle$
111,034
111.801
CreditOTS'. amounts falling due in
more than one
ear
58,S2S
169,559
118,970
Nèt
Ilabilities
l assets
7.169
The funds ofthe charity
Unrestricted funds
13814
169,559
1169,5591
7,169
Total charl
funds
7,169
The notes on pages 18 to 25 fomi part of these financial slalemenls.
These financial statements have been prepared In accordance with the special provisions of Part 15 of
the Companies Act 2006 relating lo sm£ll companies. These financial slalements have been prepared
In accordance with the Companies Act 2006 and Financial Reporting Standard 102.
These financial 51alemenls We￿ approved by the members of the committee and aulhorised for issue
on 11 *0&£ and are signed on their behalf by."
Sir James Dyson
Tru$tee
14

Registèred company number 04601338
Registered charity number 1099709
The James Dyson Foundation
Statement of cash flows
2024
2023
Note
Cash flows from operating activitie5-
Net cash (used inl I provided by operating activities
1222,1921
168,1151
Cash flows from investing activities..
Dividends and interest from investments
39,453
12,986
Net cash
rovlded b Investment actlvltles
39,453
12,986
Change In cash and cash equlvalents in the
ortin
eriod
182,739
55,129
Cash 8nd cash equivalents at the beginning of the
eriod
761,205
816.334
Cash and cash e
uivalents at the end of the
eriod
578,466
761,205
The notes on pages 16 10 25 fomi part of these financial slalemenls.
A. ReGonciliation of net income to net cash from operating activities
2024
2023
Net Ideflcltl I Income for thg roportlng p8rlod
Adjustments for..
Inveslmenl in Turkey Oak Limited
Dividends and Interest from investments
1162,3901
118,1711
139,4531
110,9001
9,449
112,9861
12,4201
34.538
Ilncreasel l Decrease in debtors
Decrease
I Increase in creditors
Net cash (used inl I provided by o
eratin
activities
222,192
68,115
15

The James Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024
1. Accounting Policies
Charlty Information
The James Dyson Foundation is an incorporated charity limited by guarantee registered with
Companies House Iregislered no. 04601338 England & Wale51 and the Charity Commission Iregislered
number 10997091. The address of Its registered office is Telbury Hill, Mallnesbury, Willshire, SN16
ORP.
Basls of accounting
These financial stslemenls have been prepared in accordance wlh 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 leffective 1 January 20191- (Charities SORP IFRS 10211. the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 Companies Act 2006 and Charities Act 2011.
The Foundation meets the definition of a public benefit enlily under FRS 102. As5els and liabilities a
initially recognised al historical c05t or transaction value unless olhetwise slated in the relevant
accounty'ng policies.
On 11 Novetnber 2022 Turkey Oak Limited wa5 incofyDratEd. The Jorries DysDii Fuuridiltivri dLquifE
100% of the shares of Turkey Oak Limited for one £1 ordinary share. The entity has not tradecl in the
year lo 31 December 2024 and as a result has not been consolidated in these accounts. A First Gazette
notice was published on 14 January 2025. seeking lo strike Turkey Oak Limited off the register from 14
March 2025.
Going concern
The Trustees are aware that there is a deficit position al the year-end which is due lo a drawdown of
funding from Dyson James Group Limited not having been requested until after the year-end 11 is usual
policy to requ8St donations only at the point when they arg required and thorè wag sufficiont cash
available within the bank account, with a balance of £578,466 al the year-end, lo allow for all
commitments to be comfortably mel for the following month. Funding of £3.4m was received from Dyson
James Group Limited Dn 10 January 2025.
Al the end of 31 December 2024, Ihe pledges from the Dyson group are in the region of £11 m. On 2Ph
November 2024 the Dyson Board approved the pledge to The James Dyson Foundation of 0.9% of
Profil After Tax through the period 2025 to 2027.
Managernenl of the charity h8ve undertaken risk 8gsesgment. planning and forecasb'ng given current
global challenges including the cost of living crisis and rising geopolitical tensions. A cashflow forecast
has been prepared lo 2028 and on this basls the Trustees believe the charty's financial resources and
contingency planning is sufficient lo ensure the ability of the charity lo continue as a going concern for
the foreseeable future, being al least twelve months from the dale of approval of these financial
slalemenls and therefore have prepared the finanaal statements on a going con￿rn basis.
16

The James Dyson Foundation
Notes to the finanGial statement5 for the year ended 31
December 2024 (continued)
1. Accounting Policies (continued)
Income from donations
Donations are recogni5ed on receipt. No amounts are included in the financial 51atemenls for services
donated by volunteers. Donated services and goods have been recognised al their fair value lo the
Foundation al the point ol donation.
Income from Snvestments
Investment In¢ome is credited to the statement of financial activities in the year in whi¢h il is receivable.
Resources expended
All expenditure is a¢count8d for on an accruals basis and has boon classifiod under headings that
aggregate all costs related lo the category. Vvhere costs cannot be directly attributed to particular
headings, they have been allocated to activities on a basis consislenl with Ljse of the resources.
Charitable activities
Costs in furtherance of charitable activities inclLJde those costs incurred in the direct perf0mlan￿ of
objects of the Foundation laid down in the goveming docijment.
Grants payable
Grants payable are calculated for in full as liabilitie5 of the charitable company after being approved by
the Trustees, communicated lo the third party and when any conditions included in the grant have been
completed. regardless of Ihe liming of cash flows.
Support costs
Support C051s comprise the direct costs. including staff, allribulable to chaiilable activities and an
appropriate apportionment of indirect costs. Support costs are allocated ID activities based on an
estimate of time spent on each activity. Governance costs included within support Costs Include
expenditure on adminislralion of the charilable company lo ensure compliance with ¢onslitutional and
slalulory requirements.
Irrecoverable VAT
Any irrecoverable VAT is charged lo the Slalement of Financial Activities.
Recognition of liabilities
Liabilities are recognised when an obligation arises lo transfer economic benefits as a result of past
transactions or events.
Investments
Investments are revalued and included in the financial Statements al their market value al the balance
sheet dale.
Dèbtors
Accrued income is re￿gnised at the settlement amount.
Cash and cash equivalents
Cash is represented by cash in hanLI and deposits with financial institutions.
Credttors
Creditors are recogni5ed where the Foundation has a present Dbligalion resulting from a past event that
will probably result In the transfer of funds to a third party and the amount due lo settle the obligation
can be measured or e5timatecf reiiaoiy. Greditors are normally recognised at their settlement amount
after a51owing for any trade discounts due.
17

The Jarnes Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 (continued)
Accounting Policies (continued)
Financial instruments
The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial
instrurnents.
Basic financial instruments are initially recognised al Iransath'on value and subsequ&nlly measured at
their selllemenl value.
SSgnificant estimates and judgemonts
In the preparation of these financial stslemenls management has, if required lo make significant
judgements or estimates, Used the fair value al the point of the donation. The value of goods purchased
from Dyson James GroLJP Limited have been uplifted from cost to retail value 8rxl the costs of
Weyboume services have been included al a fair value hourty rate.
Fund accounting
General funds are unrestricted funds which are available for use at Ihe discrets'on of the Trustees in
furtherance of the general objectives of the Foundation and which have not been designated for other
purposes.
Investment income and gains are allocated lo the appropriate fund.
Agency arrangements
The Foundation acts as an agent in dislTibukn"ng collections for the Dyson James Group Limited
nominated charity Alzheimer's Research UK.
2. Comparative statement of financial activities
Unrestricted
funds
2023
Totsl
Income from..
Donations
8,136,084
8,136,084
Investments
12,986
12,986
8.149.070
8,149,070
Expenditure on-
Charitable activities
,167,241
118,1711
8,167,241
118.1711
Net expenditure
Totsl funds brought forward al 1
Janua
2023
11.002
11,002
Total deficit carried forward at
31 Dèe•mb•r 2023
7,169
7.169
18

The James Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 {continued)
3. Donatlons
2024
2023
Unrestricted
fund$
Totsl
funds
Total
Funds
Donations
Corporate donations
Individuals
5,450.692
5.4SO,692
8,136,084
5,450.692
5.4S0,692
8,136.084
Total income attributable to geographicgl areas outside of the United Kingdom is £nil12023.. £nill.
4. Costs of charitable activities by activity type
Grant
funding
activltles
2024
Total
funds
2023
Total
fund5
Support
costs
Education and training
SGience and medical
researd)
4.817,654
505.673
5,323.327
7.875.128
244,496
5,323
249,819
222,814
Social and COTnrnunity
welfare
58.097
21.292
79.389
5,652,535
69,299
8.167,241
5.120.247
632.288
Support Costs
2024
2023
Salaries and pension costs
General adminislralion costs
436,S57
11,446
266,060
14,284
Travel and accommodation
10,439
42,552
16,716
40,988
Accountancy expenses
Legal fees
Exchange gain
Governance costs." auditor's remuneration
17,019
11.1821
15.457
14,791
2,552
10.008
532,288
365,399
Support costs are allocated lo activities based on an estimate of lime spent on each aclivily. During the
year no Trustees received emoluments or reimbursement ofexpenses from the Foundalion12023". £nill.

The James Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 (continued)
5. Grant fund(ng activities
The following gran15 and donations were made during the year..
Education and tralnlng
2024
2023
James Dy30n Award
Air Pollution Resource
424.238
470,937
285,041
297.769
261,471
US Education Programme
APAC Education Programmes
UK Education Programmes
Gresham's School- Holl Hall Project
Engineering EdLJcation Inon-JDF countries)
Malmesbu
Prima
Schools Pro
ect
185.931
608,683
431,575
286.634
188,077
2.580,102
5,984.948
150,000
190,246
4.817,854
7.527,g98
Therewere no donations and grants paid lo individuals during the year ended 31 December 202412023..
£nill.
Sclenc8 and medical research
2024
2023
Vacuum cleaners for charity fundraising
Dyson norninated charity donation- Alzheimer's Research UK
Medical Research Grants fund
186,195
51,197
185.716
32,334
1,110
219.160
7,104
244,496
Soclal and communlty welfare
2024
2023
Local community
Other
ifts of les5 than £1,000 eath
40,882
17,215
58,097
28,575
26,109
54,684
20

The James Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 (continued)
6. Staff
Staff costs durlng the period werè..
2024
2023
Wages and salaries
Social security costs
Employers Allowances claimed
Pension costs
402,169
257,297
20,388
16,372
15.0001
19,000
124,0271
Ib,418
436,557
266,060
The average headcount during the year was 6 12023.. 61.
The nurnber of employees whose employee benefits (excluding employer pension Costsl exceed
£60.000 was..
2024
2023
In the band £90,001- £100.000
In the band £60,001- £70,000
The total amount of employee benefits (including employer pension conlributionsl received by key
rnanagement personnel was £67,36912023'. £62,5901. During the year there were settlement payments
made of £Nil12023'. £Nill. There were no oulslanding liabilities al the year end.
7. Net Income for the year
This is slated after charging..
2024
2023
Auditor's Temuneralion for audit services
14,400
12,250
8. Taxation
The Foundation is a registered charity, and as such is enlilled lo certain lax exemptions on income and
profit from investments. and surpluses Dn any trading aclivilies carried on in furtherance of the
Foundatlon's primary objectives, If these profits and surpluse5 are applied solely for charitable
purposes.
The Foundation is not registered for VAT and accordingly, all of ils expendrture is recorded inclusive of
any VAT incijired.
21

The Jarnes Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 (continued)
9. Debtors
2024
2023
Accrued income and prepayments
13,320
2,420
10. Creditors: amounts falllng due within one year
2024
2023
Amounts owed lo connected parties
Other creditors
190,916
381,541
130,364
702,821
125,062
511,025
Trade Creditor5 and accruals
15,738
651,825
Included within Other creditors for 2024 are amounts for grants made, bul for which the payment did not
fall due during the year.
11. Creditors: amounts falling due In more than one year
2024
2023
Other creditors
58.525
118.970
12. Capital
The Foundation is a company limited by 9uarantee. Each member has undertaken to contribute £10 to
the assets of the company lo meet ils liabililies if ca15ed Dn to do so. The lolal amount guaranteed by
members at 31 December 2024 15 £3012023.. £301.
22

The James Dyson Foundation
Notes to the financial staternents for the year ended 31
December 2024 {continued)
13. Funds
Current year
At 1 January
2024
At 31 December
2024
Income Expendiluro
Unrestricted funds
General funds
7.169
7.169
5,490.14S
5,490,145
5.652,535
5.6S2,535
169,559
169,559
At 1 January
2023
At 31 DeGember
2023
Prior year
Income Expenditure
Unrestricted funds
General funds
11,002
11,002
8,149,070
8,167,241
8.149,070 18,167.241}
7,169
Total deficit al the year-end was £1169,5g9112023 Delicil.. £17.16911, all of which wa5 unreslricled. The
deficit was due to a drawdown of funding from Dyson James Group Limited nol having been requested
until after the year-end. 11 is usual policy lo reque51 donations only al the point when they are required
and there was sufficient cash available within the bank account, with a balance of £578.466 al the year-
end, lo allow for all commitments lo be comfortably Tnel for the following month. Funding of £3.4m was
receNe¢J from Dyson James Group Limited on 10 January 2025.
14. Analysis of net assets between funds
Analysis of net assets between funds- current year
Unrestricted
funds
Total
funds
2024
2024
Non current assets
Current assets
591,786
591,786
1702,8211 1702,8211
58,525
68,525
169,559
Creditors due wthin One year
Creditors due in more than one
ear
169,559
23

The James Dyson Foundation
Notes to the financial statements for the year ended 31
December 2024 (continued)
14. Analysis of net assets between funds (continued)
Analysis of net a55ets between funds- prior year
Unreslricled Totsl funLYs
funds
2023
2023
Non current assets
Current assets
763,625
763,625
1651.8251 1651.8251
118.970
118.970
Creditors due within one year
Creditors due in more than one
ear
7,169
7,169
15. Pension Commitments
The James Dyson Foundation operates a defined contribution pension scherne. The assets of the
scheme are held separately Iiom those of the Foundation in an Independently administered fund. The
pension cost charge represents contributions payable by the Foundation lo the fund and amounted to
£19,00012023." £16,418). There were contributions payable at year end £1,51712023.' £1,420).
16. Related party transactions
The Foundation received £5.450.69212023'. £8,138,084) in donations and donated goods and services
from Dyson James Group Limited during the year. The Foundation owed Dyson James Group Limited
£48,23412023." £30.9701 at the year end. Sir James Dyson, a Trustee of the foundation, is the 96.3%
beneficial owner of Dyson James Group Limited.
The Foundation purchased £78,054 12023.. £72,6191 of goods from Dyson James Group Limited at
cost.
The Foundation received £42,55212023". £40,988) In donated Services from Vveybourne Limited during
the year. The Foundation owed Weybourne Limited £NIl12023'. Nil) al the year end. Sir James Dyson
has the controlling share of Weyboume Limited.
The Foundation was charged for staff and associated costs by Weyboume Holdings Ple Limited
£228.58012023' £181,260). The Foundation gwed Weybourne Holdings Ple Lirniled £112.11412023'
£94,092) at the year end. Sir James Dyson has the controlling share of WeybDurne Holdings Pte
Limited.
The Foundation was charged for staff costs by Dyson Inc £90,27312023.' £Nill. The Foundation owed
Dyson Inc £30.56812023.' £Nill al the year end. Sir James Dyson has the controlling share of Dyson
Inc.
The Foundation made donations lo G￿$ham'S School £2,580,102 12023.. £5,985,268). Sir James
Dyson is a Governor of Gresham's School. 11 also donated lo The Design and Technology Association
£20,06412023 £19,914). Sir James Dyson Is a Patron of The Design and Technology Association.
24

The James Dyson Foundation
Notes to the financial slatements for the year ended 31
December 2024 (continued)
17. Agency arrangements
Amounts of £13,09012023". £27,115) were paid lo ALzheimer's Research UK during the year, leaving
an amount of £8,388 in other creditors lo be paid after the year end.
25