DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B **CHARITY REGISTRATION NUMBER: 1168715** ## **The Directors Charitable Foundation Unaudited Financial Statements** ## **A Charitable Incorporated Organisation** **31 August 2022** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Financial Statements** ## **Year ended 31 August 2022** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**11**| |Statement of financial activities|**12**| |Statement of financial position|**13**| |Notes to the financial statements|**14**| DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Chairman's Statement** The Directors Charitable Foundation (DCF) is the charity for the UK’s screen and stage directors. We have two aims: - To support and help directors in need with our **Directors Support Scheme** and our **Mental Health** projects. - To inspire young people from all backgrounds - particularly from those who are currently under-represented in the directing profession - to consider a career as a director. Our **Get Directing** ! pilot project is our platform for introducing young people and their teachers to storytelling and the crucial role of the director. DCF is run by volunteer **Trustees** most of whom are directors themselves, so we understand the needs of directors. The Directors Charitable Foundation was formed in 2016 as a partnership between Directors UK, Stage Directors UK and the then Directors Guild of Great Britain (DGGB) to fulfil their long-standing ambition to create a charity for directors and to provide support and inspiration in ways that could not be done by the professional guilds. (The DGGB ceased operating once the charity came into existence). The DCF is the only national organisation working for all directors - from audio-visual to stage. Last year (2020/21) our priority was to support directors affected by the outbreak of COVID19 and the industry lockdowns that followed. In 2021/22 we continued to provide financial support to a substantial number of directors as COVID19 remained a threat to directors of stage and screen, albeit to a reduced extent. As a result, we have been able to make progress with our other programmes: to inspire young people and to provide mental health and well-being support to directors and we intend to continue that in 2022/23. Our volunteer Trustees are very active in running the Directors Support Scheme, making our projects happen and guiding the charity’s day-to-day activities. This means that we can keep our costs to a minimum and channel as much money as possible to the directors who need our help and to our community projects. During this year Camilla Steen Gurtler and Ashley Mann stepped down as Trustees and we thank them for their dedication and their contribution to the charity. ## **Directors Support Scheme (DSS)** The scheme offers emergency help to directors (and dependants of deceased directors) in acute need of short-term support. The DSS is not for use as a source of funding for creative projects. We aim to give applicants a decision from the DSS panel within 21 days of application. Grants are usually in the region of £500. **1** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** All applicants must be UK residents. Applicants must be a director or a dependant of a deceased director. Our eligibility criteria have been designed to mirror the membership criteria of Directors UK and Stage Directors UK as far as possible. - **Screen** directors must have at least one UK broadcast credit as principal director. - **Film** directors must have at least one UK cinema or major UK festival exhibition (as per Directors UK rules) credit as principal director. - **Stage** directors, including **opera** and **musicals** , must have at least one UK professional credit (i.e. Equity contract and/or in receipt of public funding) as director, associate or assistant director with commercial, subsidised or established fringe organisations. - **VR** and **video game** directors must have a recent verifiable credit on either IMDB, an appropriate website or a public showreel. - **Commercials** and **music video** directors must demonstrate a body of work with a minimum of several credits on IMDB, an appropriate website or a public showreel. - A **dependant** means a person who depends on another person for support, aid or sustenance, especially financial support. In exceptional circumstances, we will consider **other categories of eligibility,** i.e. directors working with marginalised communities or working in unconventional settings. Applicants apply to us via **an online form** , including a simple statement outlining the specific need or circumstances for which financial support is being sought. Applications must be accompanied by a professional CV so that we can verify eligibility. A small group of our Trustees acts as an Assessing Panel. All applications are scrutinised to ascertain eligibility. Eligible applications are then assessed by the Panel, who report to the DCF Board. During the financial year 2021/22 we received 50 applications for support, and we approved 47 applications and paid out a total of £24,700 to applicants. ## **Inspiring the next Generation of Storytellers** Our programme _**Get Directing!**_ aims to inform and inspire the story tellers of tomorrow – particularly those currently under-represented in the directing profession - by running classes, workshops and mentoring projects with young people, both in and outside of the school environment. Three Trustees worked on this initiative – Deborah Paige, John Dower and Jemma Gross. We launched our second _**Get Directing!**_ project this year in collaboration with **United Learning** . United Learning is the UK’s largest Academy chain which gives us a great opportunity to access state secondary schools country-wide. Following our pilot scheme in 2021 linking individual directors and teachers in four schools (in Accrington, Stockport, Barnsley and Paddington), in 2022 we took what we learned into four schools in Salford. As a result, the Salford teachers, encouraged by what they had gained from the scheme, are now working together to pursue their own project. This will be based on two cross-school away days focussing on devised and scripted performance and will be supervised by our directors. We are also working with the film education charity _**Into Film**_ on a number of projects designed to promote film directing to young people and inspire them to tell their own stories. **2** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** This follows from our successful first year of collaboration where we sent directors into 4 schools in Northern Ireland, Wales, Scotland and England to run Film Directing workshops over 10 sessions – both online and in person. More are planned over the coming year. This year we began a new partnership with _**Inspiring the Future**_ (ITF) designed to improve the quality of careers advice for young people about working as a director. _**Inspiring The Future**_ in partnership with DCF facilitates careers talks to hundreds of school children in hundreds of schools across England. We have access to 80% of secondary and 30% primary schools. It introduces young people to a career that they might otherwise know nothing about and, hopefully, sparks their interest. Directors are invited to attend a range of school sessions, such as talks at assemblies, careers days and ‘what’s my line’ (where children try to guess their role, by asking a range of questions). ITF are especially keen to invite sessions from diverse directors (gender/race/class/disability etc) to whom the young people could easily relate. “If you can see it, you can be it.” ## **Mental Health and Well-Being** Whilst Mental Health (MH) issues cover a very broad spectrum, it is clear from recent research that there are huge issues that are very specific to working conditions in our industry. And on top of this, that there are very specific areas of concern for directors. In November 2021, we launched our Mental Health and Wellbeing Resources pages on our website, curating useful resources specifically for stage directors, screen directors, and more general mental health/crisis organisations. In January 2022, we teamed up with _**Mind**_ , the mental health charity, and their Mental Health at Work site, to create a new online resource specifically for screen and stage directors. The pages include advice, support and signposting, as well as a blog where directors talk about their personal experiences. Also in January 2022, we hosted an online discussion with 36 attendees - _**UNDER PRESSURE: Directors and their Mental Health**_ . Together with representatives from the Film and TV Charity, Applause for Thought, Solas Mind, and Stage Directors UK, we looked at specific issues faced by directors of stage and screen, examined how their industries are changing. In May 2022, we partnered with Solas Mind to offer a free workshop to members of Directors UK and Stage Directors UK – ‘Mental Health Awareness and Resilience for Directors.’ Also in May 2022, DCF launched The DCF Directors Wellbeing Hub in partnership with industry leading therapy provider _**Solas Mind**_ , providing a range of professionally curated resources for self-care and crisis management. Perhaps most significantly, through the hub, the DCF launched a new service that gives directors access to online one-to-one therapy at a significantly discounted rate. Therapy is also provided at no cost to directors who qualify for financial support via a DSS grant. The DCF/Solas model provides qualified therapists familiar with the creative sector, with time slots readily available outside of conventional working hours, making affordable therapy accessible to directors when they need it. **3** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Fundraising** DCF is supported by a substantial donation from Directors UK and we are very grateful for this continuing support. Ultimately though, we believe that the DCF should be a charity that connects with and commands the direct support of a wider range of donors rather than exclusively from Directors UK. This year we have been developing our fundraising strategy, with a focus on appealing to: - Institutions in the creative sector who are employers of directors or other supporters of our work – such as producers, broadcasters and industry strategic bodies; - Individual philanthropic-minded directors of stage and screen; and - Other partners whose aims marry with ours and whom we can approach for funding for our projects. Our fundraising campaign is set to roll-out in 2023. **4** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Reference and administrative details** **Registered charity name** The Directors Charitable Foundation **Charity registration number** 1168715 **Principal office** 4[th] Floor 22 Stukeley Street London WC2B 5LR **The trustees** Andrew Chowns Ailin Naomi Conant David Coppard FCA (Resigned 23 February 2023) John Dower Christiana Ebohon-Green Guy Gibbons (Appointed 23 March 2023) Antony Gostyn Jemma Gross (Resigned 25 November 2022) Ash Mann (Resigned 30 December 2021) Deborah Paige Thomas Roberts Michelle Singer Camilla Steen Gurtler (Resigned 15 November 2021) Ben Woodiwiss (Appointed 20 April 2023) Daniel Zeff **Hon. Charity Secretary** Peter Close **Coordinator** Alexandra Harris **Bankers** The Co-Operative Bank Plc P O Box 250 Skelmersdale WN8 6NY **Independent examiner** Benjamin Bidnell Shipleys LLP Chartered Accountants 10 Orange Street Haymarket London. WC2H 7DQ **5** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Structure, governance, and management** ## **Governing document** The Directors Charitable Foundation ("the Charity" or "DCF") was incorporated as a charitable incorporated organisation (CIO) by the Charity Commission on 10 August 2016 using the "Foundation" model constitution where its charity trustees are the sole voting members. Under the constitution, the members have no liability to contribute to the assets of The Directors Charitable Foundation and no personal responsibility for settling its debts and liabilities. ## **The methods adopted for the recruitment and appointment of new Trustees** At the year end the charity was governed by eleven trustees and one Associate trustee, Peter Close, the Honorary Charity Secretary. The Constitution permits a maximum of 11 charity trustees. If a vacancy occurs on the Board of Trustees or a suitable opportunity arises, a meeting will then be held to discuss the possible candidates. In accordance with the Constitution, meetings may be held by electronic means, and following a discussion and vote, the Board would then appoint a new member. Appointments are normally for a period of three years. Trustees may be re-elected for additional periods, up to a maximum of 12 years. ## **The policies and procedures adopted for the induction and training of trustees** At present, there are no formal policies and procedures for the induction and training of new trustees. However, the procedure with recent appointments is for the Chair and/or the Hon. Secretary to induct new Trustees. All new Trustees received copies of the Constitution and minutes of recent meetings. In addition, new Trustees will also receive a copy of the most recent Annual Report. ## **The organisational structure of the charity and how decisions are made** In this financial year the Trustees held nine meetings to manage the Charity's affairs. Minutes of such meetings are taken, and records kept indefinitely. The day-to-day management of the Charity is the responsibility of the Chair, supported by the two ViceChairs, the Hon. Treasurer and Hon. Secretary. The Charity is further supported by a part-time Coordinator. The Chair, Officers and the remaining Trustees play a vital role in the development and running of the Charity. **6** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Structure, governance, and management** _**(continued)**_ **The major risks to which the Charity is exposed and reviews and systems to mitigate them.** The Trustees have a risk management strategy which comprises. - (a) An annual review of the risks the Charity may face. - (b) The establishment of systems and procedures to mitigate those risks identified in the plan. - (c) The implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise, is the responsibility of the Trustees. It is acknowledged that operational and financial risks exist, and the Trustees take appropriate steps to mitigate these within the financial constraints imposed by available funds. The Charity has in place policies on: Conflict of Interest, Equal Opportunities, Anti-Fraud, Data Protection, Expenses, Anti-bribery, Trustee Code of Conduct, an Anti-Harassment and Bullying policy, a Disciplinary Code and a Grievance Procedure. The Charity has established an Audit Committee and adopted Terms of Reference for it. Trustee insurance has been put in place. ## **Related parties** The Trustees consider that the following are related parties: ## Directors UK Limited Directors UK Limited ("DUK") has the power, under the constitution, to appoint two Trustees to the Charity. The DUK Representatives were: Dan Zeff and Thomas Roberts Transaction and balances with related parties are set out in Note 22. **7** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Objectives and activities** The charitable objects of The Directors Charitable Foundation are: 1. to advance the education of the public by the encouragement of the arts particularly those practised by and resulting from the activities of directors and other persons with similar responsibilities having creative charge of units or sub-units of production in every activity involving the creative process or artistic endeavour. 2. to promote any related charitable purpose including the arrangement and encouragement of co-operation with and between public and local authorities and charitable organisations and national and international organisations with similar objects or objects affecting directors. 3. to relieve poverty and sickness among those engaged in the arts and particularly among directors their dependants and relatives. 4. and in furtherance of the above objects but not further or otherwise: - - 4.1 to undertake research and to print publicise issue and otherwise disseminate any useful products thereof in any literary aural or visual form and to provide facilities for the acquisition storage publication and dissemination of informative and educational material in any form relevant to the objects of the CIO; and - 4.2 to present promote organise provide manage and produce any literary aural or visual material which may advance the objects of the CIO and in connection therewith to purchase acquire obtain interests in and deal with copyright and other rights in any such material. **8** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Income and capital** The Trustees must apply the income and, at their discretion all or part of the capital, of the Charity in furtherance of its charitable objects. ## **Grants** One of the major activities of the Charity is the provision of grants and financial assistance to beneficiaries in line with its wide charitable objects. The Trustees receive applications for funding through the _Directors Support Scheme_ . ## **Grant making policy** Applications are considered and assessed against our published Guidance for Applicants www.directorscf.org/guidance-for-applicants. Successful applications are paid after approval. Grants are included in the accounts when the Trustees have made an irrevocable commitment to pay. ## **Public benefit** The Trustees have had due regard to the Charity Commission Guidance on Public Benefit. The Trustees have considered public benefit in line with the charitable status as a grant giving charity and have continued the _Directors Support Scheme_ , They have also established an outreach project aimed at young people and their teachers titled _Get Directing!_ (Formerly _Directors in Schools_ ). The Foundation entered into an agreement with _Digital Theatre+_ , an educational electronic platform focused on theatre production and criticism, by means of which it will disseminate examples of good practice in theatre directing to a wide public of learners. **9** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Trustees' Annual Report** ## **Year ended 31 August 2022** ## **Financial review** During the period, the Charity received donations, grants and Gift Aid amounting to £53,175 (2021 - £56,512). The total expenditure on charitable activities amounted to £41,956 (2021 - £82,425) with governance and other expenditure totalling £4,167 (2021 - £2,386) and fundraising costs totalling £4,332 (2021 - £nil) during the period and the funds increased by £2,720 in the period (2021 decreased - £28,299). On 31 August 2022, the net assets of the Charity amounted to £45,332 (2021 - £42,612). ## **Reserves policy** The Trustees have determined that the reserves of the charity should amount to all the restricted funds plus 12-months of unrestricted expenditure to ensure that the charity can fully administer its restricted funds and achieve its charitable objectives year on year. The Directors Charitable Foundation's Reserves Policy has the desired goal of keeping funds of £30,000 as unrestricted free reserves. At present, the free unrestricted reserves of the Charity show a surplus of £45,332. 20 June 2023 The trustees' annual report was approved on ……………………………….. and signed on behalf of the board of trustees by: Andrew Chowns Trustee **10** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Independent Examiner's Report to the Trustees of The Directors Charitable Foundation** ## **Year ended 31 August 2022** I report to the trustees on my examination of the accounts of the Directors Charitable Foundation (the charity) for the year ended 31 August 2022. ## **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 Act’). I report in respect of my examination of the charity’s accounts carried out under s. 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under s. 145(5)(b) of the Act. ## **Independent examiner’s 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: - 1) accounting records were not kept in respect of the charity as required by section 103 of the Act; or - 2) the accounts do not accord with those records; or - 3) the accounts do not comply with the applicable requirements concerning the form and content of accounts 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 matters 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. Benjamin Bidnell FCCA Shipleys LLP Chartered Accountants 10 Orange Street Haymarket London, WC2H 7DQ 20 June 2023 **11** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Statement of Financial Activities** ## **Year ended 31 August 2022** |||**2022**||2021| |---|---|---|---|---| |||Unrestricted||| |||funds**Total funds**||Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**5**|52,839|52,839|54,622| |Charitable activities|**6**|345|345|1,685| |Investment income|**7**|(9)|(9)|205| |||--------------------------------|--------------------------------|--------------------------------| |**Total income**||53,175|53,175|56,512| |||================================|================================|================================| |**Expenditure**||||| |Expenditure on raising funds|**8**|4,332|4,332|-| |Expenditure on charitable activities|**9,10**|46,123|46,123|84,811| |||--------------------------------|--------------------------------|------------------------------| |**Total expenditure**||50,455|50,455|84,811| |||================================|================================|================================| |||--------------------------------|--------------------------------|------------------------------| |**Net income / (expenditure) and net movement in funds**||2,720|2,720|(28,299)| |||================================|================================|================================| |**Reconciliation of funds**||||| |Total funds brought forward||42,612|42,612|70,911| |||--------------------------------|--------------------------------|------------------------------| |**Total funds carried forward**||45,332|45,332|42,612| |||================================|================================|================================| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 14 to 22 form part of these financial statements.** **12** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Statement of Financial Position** ## **31 August 2022** |||**2022**|2021| |---|---|---|---| ||**Note**|**£**|£| |**Fixed assets**|||| |Tangible fixed assets|**17**|-|-| |**Current assets**|||| |Debtors|**18**|39|130| |Cash at bank and in hand||48,621|45,722| |||---------------------------|---------------------------| |||48,660|45,852| |**Creditors: amounts falling due within one year**|**19**|(3,328)|(3,240)| |||---------------------------|---------------------------| |**Net current assets**||45,332|42,612| |||---------------------------|---------------------------| |**Total assets less current liabilities**||45,332|42,612| |||---------------------------|---------------------------| |**Net assets**||45,332|42,612| |||===========================|===========================| |**Funds of the charity**|||| |Unrestricted funds||45,332|42,612| |||---------------------------|---------------------------| |**Total charity funds**|**20**|45,332|42,612| |||===========================|===========================| These financial statements were approved by the board of trustees and authorised for issue on ……………………………………., and are signed on behalf of the board by: 20 June 2023 Andrew Chowns Trustee Guy Gibbons Trustee **The notes on pages 14 to 22 form part of these financial statements.** **13** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** ## **Year ended 31 August 2022** ## **1. General information** The charity is a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 4th Floor, 22 Stukeley Street, London, WC2B 5LR. ## **2. Statement of compliance** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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 of Ireland (FRS 102) (The Charities SORP FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 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. ## **3. Accounting policies** ## **Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements are prepared in sterling, which is the functional currency of the Charity, and rounded to the nearest £1. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Disclosure exemptions** The charity does not include a cash flow statement on the grounds that it is a small charity and is exempt under the Charities SORP FRS 102. **14** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **3. Accounting policies** _**(continued)**_ ## **Judgements and key sources of estimation uncertainty** Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no significant estimates or judgements in the financial statements. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for future projects or commitments. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds. The charity does not currently have any designated or restricted funds. ## **Income** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably. - income from charitable activities are accounted for when earned - interest on funds held at bank is included when receivable and can be reliably measured by the charity. ## **Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. **15** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **3. Accounting policies** _**(continued)**_ ## **Expenditure** _**(continued)**_ All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis. ## **Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. ## **Depreciation** Depreciation is calculated to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment - 33% straight line ## **Financial instruments** The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows: Cash at bank - is classified as a basic financial instrument and is measured at face value. Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments and are measured at amortised cost. ## **4. Charitable incorporated organisation** The Charity was incorporated as a Charitable Incorporated Organisation (CIO) using the Charity Commission's "Foundation" model constitution where the charity trustees are the sole voting members. Under the constitution, the members have no liability to contribute to the assets of The Directors Charitable Foundation and no personal responsibility for settling its debts and liabilities. **16** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **5. Donations and legacies** ||||Unrestricted|Restricted|**Total Funds**| |---|---|---|---|---|---| ||||Funds|Funds|**2022**| ||||£|£|**£**| ||**Donations**||||| ||Directors UK Limited||50,000|–|50,000| ||Donations from individuals||2,214|–|2,214| ||Gift Aid claimed||625|–|625| ||||--------------------------------|--------------|--------------------------------| ||||52,839|–|52,839| ||||================================|==============|================================| ||||Unrestricted|Restricted|Total Funds| ||||Funds|Funds|2021| ||||£|£|£| ||**Donations**||||| ||Directors UK Limited||50,000|–|50,000| ||Donations from individuals||3,871|–|3,871| ||Gift Aid claimed||751|–|751| ||||--------------------------------|--------------|--------------------------------| ||||54,622|–|54,622| ||||================================|==============|================================| |**6.**|**Charitable activities**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2022**|Funds|2021| |||£|**£**|£|£| ||Royalties|345|345|1,685|1,685| |||============================|======================|==============|==============| |**7.**|**Investment income**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2022**|Funds|2021| |||£|**£**|£|£| ||Building society interest receivable|(9)|
(9)|205|205| |||==============|==============|==============|==============| |**8.**|**Expenditure on raising funds**||||| ||||Unrestricted|Restricted|**Total Funds**| ||||Funds|Funds|**2022**| ||||£|£|**£**| ||Costs of raising donations||4,332|–|4,332| ||||================================|==============|================================| ||||Unrestricted|Restricted|**Total Funds**| ||||Funds|Funds|**2021**| ||||£|£|**£**| ||Costs of raising donations||–|–|–| ||||================================|==============|================================| **17** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **9. Expenditure on charitable activities by fund type** ||Unrestricted|Restricted|**Total Funds**| |---|---|---|---| ||Funds|Funds|**2022**| ||£|£|**£**| |Education|7,332|–|7,332| |Directors Support Scheme|24,700|–|24,700| |Mental Health Projects|4,647||4,647| |Support costs|9,444|–|9,444| ||--------------------------------|--------------|--------------------------------| ||46,123|–|46,123| ||================================|==============|================================| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2021| ||£|£|£| |Education|3,900|–|3,900| |Directors Support Scheme|60,825|–|60,825| |Support costs|20,086|–|20,086| ||---------------------------|-----------------------|---------------------------| ||84,811|–|84,811| ||===========================|=======================|===========================| ## **10. Expenditure on charitable activities by activity type** ||Activities||||| |---|---|---|---|---|---| ||undertaken|
Grant funding|Support|**Total funds**|Total fund| ||directly|
of activities|costs|**2022**|2021| ||£|£|£|**£**|£| |Education|7,332|
–|2,603|9,935|7,808| |Directors Support|||||| |Scheme|–|
24,700|467|25,167|74,617| |Mental Health Projects|4,647|
–|2,207|6,854|–| |Governance costs|–|
–|4,167|4,167|2,386| ||-------------------------|--------------------------------|--------------------------------|--------------------------------|---------------------------| ||11,979|
24,700|9,444|46,123|84,811| ||=========================|================================|================================|================================|===========================| ## **11. Analysis of support costs** |||Directors|||| |---|---|---|---|---|---| |||Support|||| ||Education|Scheme Mental health||Governance|**Total 2022**| ||£|£|£||**£**| |General office|144|66|-|52|262| |Domain name and|||||| |Website costs|175|75|250|–|500| |Coordinator’s fees and|||||| |expenses|2,284|326|1,957|1,957|6,524| |Legal fees|–|–|–|300|300| |Insurance|–|–|–|478|478| |Independent Examiners|||||| |fees|–|–|–|1,380|1,380| ||---------------------------|---------------------------|---------------------------|---------------------------|---------------------------| ||2,603|467|2,207|4,167|9,444| ||=======================|===========================|=======================|===========================|===========================| **18** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **11. Analysis of support costs** _**(continued)**_ |||Directors||| |---|---|---|---|---| |||Support||| ||Education|Scheme|Governance|2021| ||**£**|**£**|**£**|**£**| |General office|317|154|110|581| |Domain name and||||| |Website costs|235|235|–|470| |Coordinator’s fees and||||| |expenses|3,348|13,396|–|16,744| |Depreciation|8|7|–|15| |Insurance|–|–|476|476| |Independent Examiners||||| |fees|–|–|1,800|1,800| ||-----------------------|-------------------------------|-----------------------|-------------------------------| ||3,908|13,792|2,386|20,086| ||=======================|================================|=======================|================================| ## **12. Analysis of grants under the directors’ support scheme** ## **Grants to individuals** ||**Grants to individuals**||| |---|---|---|---| |||2022|2021| |||£|£| ||47 - Emergency relief of poverty (2021 – 126)|24,700|60,825| |||===========================|===========================| |**13.**|**Net income/(expenditure)**||| ||Net income/(expenditure) is stated after charging/(crediting):||| |||**2022**|2021| |||**£**|£| ||Depreciation of tangible fixed assets|–|15| |||==============|==============| **19** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **14. Independent examination fees** ||**2022**|2021| |---|---|---| ||**£**|£| |Fees payable to the independent examiner for:||| |Independent examination of the financial statements|1,440|1,440| |Prior year (over) / under provision|(60)|360| ||-----------------------|-----------------------| ||£1,380|£1,800| ||=========================|===========================| ## **15. Staff costs** The Charity did not employ any staff in the current or prior period. The average head count of employees during the period was Nil. No employee received employee remuneration or benefits of more than £60,000 during the period. ## **16. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. Three (2021 - three) of the trustees claimed fees and reimbursed expenses of £499 in the year (2021 - £487). ## **17. Tangible fixed assets** |||**Equipment**| |---|---|---| |||**£**| |**Cost**||| |**At 1 September 2021 and 31 August 2022**||130| |||==============| |**Depreciation**||| |At 1 September 2021||130| |Charge for the year||-| |||--------------| |**At 31 August 2022**||130| |||==============| |**Carrying amount**||| |**At 31 August 2022**||-| |||==============| |At 31 August 2021||-| |||==============| |**Debtors**||| ||**2022**|2021| ||**£**|£| |Prepayments and accrued income|39|130| ||==============|==============| ## **18. Debtors** **20** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **19. Creditors: amounts falling due within one year** Accruals and deferred income |**2022**|2021| |---|---| |**£**|£| |3,328|3,240| |=======================|=======================| ## **20. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| ||At 1||||**At 31**| ||September||||**August**| ||2021|Income|Expenditure|Transfers|**2022**| ||£|£|£|£|£| |General funds|42,612|53,175|(50,455)|–|45,332| ||===========================|================================|================================|==============|===========================| ||At 1||||**At 31**| ||September||||**August**| ||2020|Income|Expenditure|Transfers|**2021**| ||£|£|£|£|£| |General funds|70,911|56,512|(84,811)|–|42,612| ||===========================|===========================|===========================|=======================|===========================| |**Analysis of net assets between funds**|||||| |||||Unrestricted|**Total Funds**| |||||Funds|**2022**| |||||£|**£**| |Tangible fixed assets||||-|-| |Current assets||||48,660|48,660| |Creditors less than 1 year||||(3,328)|
(3,328)| |||||---------------------------|---------------------------| |**Net assets**||||45,332|45,332| |||||===========================|===========================| |||||Unrestricted|**Total Funds**| |||||Funds|**2021**| |||||£|**£**| |Tangible fixed assets||||-|-| |Current assets||||45,852|45,852| |Creditors less than 1 year||||(3,240)|
(3,240)| |||||---------------------------|---------------------------| |**Net assets**||||42,612|42,612| |||||===========================|===========================| ## **21. Analysis of net assets between funds** **21** DocuSign Envelope ID: 3EBAB719-C89C-4930-937B-B313A57DD8C1DocuSign Envelope ID: 51ADDBDE-9320-495B-BB6F-71D2D93E5E4B ## **The Directors Charitable Foundation** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 August 2022** ## **22. Related parties** During the period, the Charity received a donation of £50,000 (2021- £50,000) from Directors UK Limited a company in which some of the Trustees of The Directors Charitable Foundation are also members. During the year, David Coppard donated £nil (2021 - £1,500) to the Charity and advanced £nil (2021 - £4,000 for the period 8 February 2021 to 25 February 2021). The prior year advance was repaid and was to provide the Charity with funds while waiting for funds to be released from the notice account held at Teachers building society. During the year, MHA MacIntyre Hudson LLP, a partnership in which David Coppard, a Trustee of the Charity, was a partner, bore the annual cost of software used by the Charity with a market value of £nil (2021 - £288). No recharge was made, and no balances were outstanding at the year end. **22**