Registered charity number 1160919 The James and Deirdre Dyson Trust Trustees, report, Independent Examiner's Report and the Financial Statements for the year ended 31 December 2024 Unaudited
The James and Deirdre Dyson Trust Contents Reference and administrative details Trustees, report for the year ended 31 December 2024 Independent Examinerfs Report Receipts and Payments Account for the year ended 31 December 2024 Statement of Assets and Liabilities as at 31 December 2024
The James and Deirdre Dyson Trust Reference and administrative details Registered charity name The James and Deirdre Dyson Trust Charity number 1160919 Registered address Tetbury Hill Malmesbury Wiltshire United Kingdom SN16 ORP Trustees Sir J Dyson Lady D Dyson Weybourne Corporate Trustee Limited {appointed 20.08.2024) Trust manager Juliet Charman Bankers Lloyds Bank plc 55 Corn Street Bristol BS1 1HT EFG Private Bank Leconfiel¢J House Curzon Street London W1J 5JB Independent Examiner Crowe U.K. LLP Chartered Accountants 4th Floor St James House St James Square Cheltenham GLSO JVK
The James and Deirdre Dyson Trust Trustees, report for the year ended 31 December 2024 The Trustees present their report and financial statements ofThe James and Deirdre Dyson Trust ('the Trust" "the Charity.) for the year ended 31 December 2024. The accounts are prepared under the receipts and payments basis. Reference and administrative detalls Reference and administrative details are shown on page 1. The James and Deirdre Dyson Trust is a charity registered with the Charity Commission (registration number 1160919). Structure, governance and management Governing document The Trust is govemed by its trust deed dated 28 January 2015. Govemance of the Trust The year under review is the lenth operating and financial year of the Trust during which the Trustees met to review the Trust's policies and pr0dUreS. Administrative support is provided by The James Dyson Foundation. Financial and accounting support is provided by Weybourne Limited. Recruitment and training of Trustees Trustees are appointed by a resolution of the existing Twstees. New Trustees are appointed to provide the skills identified as being necessary for the good governance of the Trust. The Trustees are aware of their responsibilitie5 under charity law and have the Charity Govemance Code available to review. It is made available to any newly appointed Trustees as well. The James Dyson Foundation team assess the Code and where the Trust is against it as part of their support for running the Trust. Risk management In light of the governance guidance contained wtthin the Charities Governance Code, the Trustees, in the course of their meetings, review the major strategic. business and operational risks to which the Trust is exposed. Systems have been established to mitigate those risks and procedures implemented to minimise any potential impact on the Trust should any of those risks materialise. The principal risks include: Loss of key benefactors; The Trust has sufficient reserves to fund planned activities. Funding is reviewed fully before commilting to any new donation. Reputational damage; The James and Deirdre Dyson Trust team work closely with the Dyson communication5 team, Weybourne leadership and a charty lawyer, ensuring Charity Commission guidance is followed on all projects. Loss of confidential Infomiation", The James and Deirdre Dyson Trust is fully supported by theweyboume ITteam, and therefore benefits from the same cyber security policies and procedures. Fraudulent activity; The James and Deirdre Dyson Trust is fully supported by the Weybourne finance team, and therefore benefits from the same financial controls and securities such as segmentation of duties and formal delegated authority protocols.
The James and Deirdre Dyson Trust Trustees, report for the year ended 31 December 2024 (continued) Financial risk management Price risk Price risk is negligible as financial instruments are limited to cash and cash equivalents. Credit risk Credit risk on amounts owed to the Trust is low, as its principal source of funds is donations from the Trustees. Liquidity risk The Trust matches commitments to its creditors with the expected timing of cash receipts in respect of donations from its trustees. The trustees have undertaken to provide funds to the Trust to meet its liquidity requirements. Interest rate and cash now risk The Trust places surplus funds on short temi deposit wth EFG and Lloyds Bank. Objectives and activities The Trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission for England and Wales. The principal objects of the Trust are to advan charitable purposes as the Trustees see fit, in particular but not limited to.. education, both relating to engineering and generally; health- arts, culture. heritage or science: and amateur sport. The Trust carries out these objectives by providing donations and gifts. Grant making policy Grants are determing.d hy the Trustees in accordance with the objects of the Trust. Applications for grants are considered by the Trustees in line with the Trust's objectives. Achievements and performance The Trust made donations in the year of £334.494 (2023.. £160,206) This included a number of significant donations. £300,000 to Cure EB and £17,094 tu P(qldiS de Tokyo. Financial review Thc receipts and payments a¢¢ount for the period is set out on page G. Income ft)I the year wtl £247,20412023: £215,661). The Trust's main source of income is. and is expected to remain, interest received from cash deposits. The Trust charitable activities totalled £334,494 (2023.. £216,034} and paid overheads of£2,151 (2023.. £1,935). The Trust ended the year with £4,586,446 (2023: £4,675.8871 cash available for use in future period5.
The James and Deirdre Dyson Trust Trustees. report for the year ended 31 December 2024 (continued) Related party transactions Administrative support is provided by The James Dyson Foundation. Financial and accounting support is provided by Weybourne Limited. Sir James Dyson has the controlling share of Weybourne Limtled and is a trustee of The James Dyson Foundation. The Trust purchased £Nil (2023.. £Nil) of goods from Dyson James Group Limited at cost. Sir James Dyson. a Trustee of the Trust. is the 96.3% beneficial owner of Dyson James Group Limited. The Trust purchased £Nil (2023.. £Nil} of goods at cost from Deirdre Dyson Carpets Limited for donation to Gresham's School_ Lady Deirdre Dyson, a Trustee of the Trust, is the beneficial owner of Deirdre Dyson Carpets Limited The Trust made donations to Gresham's School £Nil (2023.. £Nil). Sir James Dyson is a member of the Board of Governors of Gresham's School. Investment powers, policy & perfomiance The Trust has wide investment powers. Funds are held in cash. in interest-bearing accounts with EFG and with Lloyds Bank to meet short temi requirements. Reser4es The Trust does not receive any donations, grants and other sources of fundraising where restrictions are imposed that are narrower than the Trust's overall objectives. The Trustees are confident that the work of the Trust can continue. Future funding will mainly be derived from direct donations by Sir James and Lady Dyson, and as such the Trustees can ensure continuation. Plans for future periods The James and Deirdre Dyson Tnjst will continue to make donations to charities and causes as they see fit in line with the charity's objectives of education. health, arts. culture. heritage or science and amateur sport Signed on behalf of the Trustees Sir James Dyson Trustee Date: Nl 30>5
The James and Deirdre Dyson Trust Independent examiner's report to the trustees of The James and Deirdre Dyson Trust I report to the tnjstees on my examination of the accounts of The James and Deirdre Dyson Trust for the year ended 31 December 2024 bvhich are set out on pages 6 to 7. This report is made solely to the chanty's trustees. as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charity s trustees those matters l am required to state lo them in an independent examiner's report and for no other purpose_ To the fullestextent permitted by law. I do not accept or assume responsibility to anyone other than the charity. the charity's members as a body and the charity's trustees as a body for my independent examiner's work. for this report, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have foll0vd all the applicable Directions given by the Charity Commission under section 145(5)(bl of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect." accounting records were not kept in respect of the Chanty as required by section 130 of the 2011 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not complywith the applicable requirements concerning the form and content ofaccounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to )which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Dated.. 19 June 2025 Tara Westcott FCCA Crowe U.K. LLP Chartered Accountants 4th Floor st James House St James Square Cheltenham GL50 3PR
The James and Deirdre Dyson Trust Receipts and Payments Account for the year ended 31 December 2024 For the year ended 31 December 2024 2024 2023 Total Funds Total Funds Receipts Donalions 16.539 199.122 Interest received 247,204 247,204 Total Receipts 215,661 Payments Donations (334.494) (160,2061 (55,8281 (1.800) 135 Fundraising events Professional fees (2.010) 141 Bank char es Total payments (336,645) {217,969} Net payments (89,441) (2,308) Reconciliation of funds: Total cash funds I funds brou ht forward at 1 Janua 4.675,887 4,678,195 Total cash funds I funds carried forward at 31 December 4,586,446 4,675,887 All receipts and payments were made to and from unrestricted funds.
RÈgistÈrÈd charlty numbÈr 1160919 The James and Deirdre Dyson Trust Statement of Assets and Liabilities as at 31 December 2024 2024 2023 Assets Debtors Cash Funds 4.586,446 4,675,887 Total Assets 4.586,446 4,670,887 Liabilitie5 Accruals 2,154 2,154 2,010 (2,010) Total Liabilitie5 These accounts were approved by the irusiees and are signed on ihelr tsehair by.. Sir James Dy50n Trustee iked: 17 J