OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Comp•ny numb•r: 13174032 Ch•rlty numb•r'. 1194513 Dr. Martens Foundatlon Trustees, Report and Flnanclal Statements lor the perlod ended 31 March 2022

Dr. Martens Foundatlon Contents Charlty I nformatlon Trustees. Report Independent Audltors. Report Statement of Flnanclal Actlvltles Balanc• Sheet statement of Cash Flows Notes to the Flnanclal Statements 10 11 12

Dr. Martens Foundatlon Charlty Informatlon For the perlod ended 31 March 2022 Board ol Trustees Emlly Relchwald (Chalrl Darren Campbell Pamela Shores Paul Armstronq Tuze M•klk Arquedas S¢hwank S•¢r•t4ry Aller Domsjs IUKI Llmlted 10th Floor 30 St Mary Axe London Unlted Klnqdom EC3A 86F Charlty numb•r 1194513 Cornpany numb•r 13174032 R•qlit•r•d and prln¢lp•l •ffk• 28 Jamvstown Road Cjmden London Unlled Klnqdom NWI 78Y Audlt•ri Prl¢ewaterhouseCoop•rs LLP 1 Embankment Plac• London Vnlled Klnqdom WC2N 6RH Bink•rs HS8C Bank PLC 8 Canada Sguaro London United Klnqdom 45HQ L•q•l advlsorl Russell Cooke 2 Putney Hlll London Unlted Klnqdom SW15 6A8 Or. Martens Foundatlon Is J charltable company, reqlstered In England and Wales. Ilmlted by quarantee wlthout share capltal use of 'Llmlted' exgmptlon.

Dr. Martens Foundation Trustees. Report For the perlod ended 31 March 2022 The Trustees (the 'Trustees'l who are also Dlr•ctors lor the purposes of the Companlts Act 2006, of the Dr. Martens roundallon Ithe'Foundallon'l, present thelr report and Ilnanclal staternents lor the perlod ended 31 March 2022. The Foundatlon wa5 Incorporated a5 a private Ilmlted company wlth Companle5 House Ort 2 February 2021 and reqlstered as • eharlty wlth the Charity Commlsslon on 18 May 2021. The report and Ilnanclal statement5 are presented for th• perlod 012 F•brvary 2021 to 31 March 2022 and repres•nt a lonq perlod of account In the Ilr5t p•rlod ol operation. The Dr. Marttrns Foundition Is qo¥èrned by Its Artl¢les ol A55o¢latlon. The Trusl•s ha¥e •dopl•d the provlslons of the Flnanclal Reportlnq Standard applicable In the UK and Republlc of Ireland IFRS 1021 and the CharltSes Statement ol Recomrnended Practlce ISORP) IFRS 1021. The Dr. Martens Fovndatlon was orlqlnally reglslered under the n4m• 'Ampqoodcauses Llmlted., whlch was chanqed to th• Dr. Martens Foundation by 5pecl•l re501utlon on Z March 2021. Any referen¢•s to the Dr. klartens Found•tlon throughout thls document relate to the fwm•r 'Ampqoo(Icauses Limited.. Purpos• Obl•¢ti •nd alm• Thè objects ol the Foundatlon are, for the publlc b•nellt, to advance such charllable pvfpoies laccordlnq to the law ol England and Wales) as the Tru5tee5 Set lit. These are focussd on. but not restrlcttd to, supportlnq causes that AvaThcp soclal lustit for thè bènellt ol the oubllc and wlth reaard to the ChJrllv Commlsslon's ould4n¢ on publlc beneflt. The current operjtlonal stru¢ture ol the Foundatlon Is such that funds r)Is•d wlll b• orbnted to thlrd partlej who are Jble to dellver our ¢harltable obl•cts. Tttese Ire typlcally other larqer charllles worklnq dlr•ctly wlth the publlc and oth•r beneflclarl•$. Publlc b•n•flt We ar• consciou5 that Th Ch•rltles Acl 2011 emphaslses the requlrement that all charllles of ev•ry klnd must be abl• to demonstrate thjl thèlr worm Is of dlrect b•n•lll to the publlc. We belleve that the actlvltles w• lund throuqh all our orants cover a wlde ranqe o113sues wlthln soclal lustlcg causes. They empower rb•lllous 5•11.xpresslon and drlve forward poslllve chanqe lor soclety. are demonstrably ol publlc benelll. W• •lso ensure that lund3 qranted to thlrd partSes to further our alrns are used as Intended throuqh our due dlllqence, monltorlnq. Jnd evjlyatlon process•s. Th• Foundatlon wlll also alm to ¢ontlnue to ralse •w•r•n•ss ot many Issues Includlnq $o¢l•l lustl¢e •¢ros$ th• qlobe to chleve Ils mls$lon lo elloct posltlve Chanoe. Gr4nt m•klnq poll¢y Grants made by th• Foundatlon are at the dls¢retlon ol the Board of Trustees. The Trust•es h•ve approved J qr•nt rnaklng poll¢y to ensure that orants are In Iln• wllh the Foundjtlon's Jlms and aoreed proc•ss•s are conslstent for each or•nt. The Qf•nt m•klnq pollcy has ovolvd throughout the FoundatSon's flrst ptrlod ol operatlon, wllh the verslon qolnq forw•rd approved as of th• dat• of slonlnq thls report. All qrants throuqhout th• p•rlod have been 4pproved by the trustees In Ilne wlth the qovernlnq documents. The Foundatlon's pollcy Ss Currently to only mak• qrant5 to charltable orqanlsatlDn5. The pollcy a150 Includes 9uldance on the •ppll¢Jtlon process. due dlll9enc•. approval. and monltorlnq processes. Monltorlnq wlll be •pproprlate 4n¢J proportlonate to e•ch qrant and m•y Includ• evldenc• ol ¢0st5 Incurred. requl•r wrltlen or verb•l updJt•s and • fln•l written report upon ¢ompletlon of th* prolect and outcorne5 1chlev•d, 11 uns•tlsfactory reportlnq Is recelved from a prolt¢t, the Trustees wlll conslder any actlon that they wlll lo take to retrleve or Jmend past or luture qrant commltments. Any lundlnq obllqatlons beyond th• perlod end date wlll be •c¢ru•d,11 necessary, wlthln th• perlod that the Foundatlon obllqat•J Its•ll to pay th• grant to the reclplent. AchI•v•m•nl￿n.{1. p•rlLfft•n Ch•rlt•bl• •¢tlvltl•i The Foundatlon proqr•ssed Its aqenda durlnq th• perlod by recelvlng slqnlllc•nt donatlons totalllnq É33m. Includlnq È0.2m of ollls In klnd from the Dr. Martens plc group. Slnce lolnlnq In February 2022. th• Foundatlon Manaqer has bèqun lo start processing the appllcatlons and contr)¢ts for qrants belng •warded by th• FoundatSon which Is expected to Increase qolnq forward Durlng the p•rlod the Foundatlon rnade qr•nts to 34 orqan150tlons totalllnq £0,6m. 01 these. 32 were made to organisatlon5 that applled wlthln the Grassroot qrant programme and three were made to orqanlsatlons supportln9 people who had been Impacted by the war In Ukralne. All qr•nts made have be•n m•do to supporl causes whlch meet the Found•tlon's oblectlve to advance soclal lustl¢•,

Dr. Martens Foundatlon Trustees, Report (continued) For the perlod ended 31 March 2022 Hlqhllqhts ol qrant5 made durlnq the perlod Include.. Gras•ro•t qr•nt proqramm•: Orqan15allons thot are workinq to advance soclal 5ustice in the areas ol race. gender. LGB TQ+ rlqhts, as well a5 support those who are experlenclnq hornelessness, climate inlu5tlce, rn•ntol health problems. arè displaced, have dlsJbillt15, at rlsk ol lor Inl the crlmlnal Iustlce system. have been tralllcked an¢ have Ilmlted acce55 to musl¢ and •rts are invited to apply for fundlng of an Jnnual donatlon ol up to É20.000. The alm of thls qrant proqramme Is to strengthen ¢lvll soclety In the countrles the Foundotlon op•rat• In. Rlqht to B• proqramm•: £xperlenc•d rlohts based charStable orqanlsatlonj wlth a slgnlflcant track record wlll be Snvltld lo apply lor lundlnq ol up lo E200,000 annJally over three years to advanc• soclal Iu5tlce In areas that Impact the Ilve5 of people who are experlenclnq racism, qend•r In•qvallly and LG8TQ+ who do not have equal a¢¢ess to rlqhts and freedoms. The •lm ol th15 grant proqrammels to shlll the narrative where il IlmltS rlqhts and freedoms and where ther• Is •n In¢re•se In anlmoslty. mislnlorrnatlon and hate aqalnst these 9roups. Ern•rq•ncy qr•nl pr09r￿MI. A Small proportlon ol total funds have been budgeted to support merqenc1•3 th•t wlll have Immedljte Impart the countrl•s the FoundJtlon operat•s In, Thls qrant proqramme seeks to provld• Imrnedlale r•llel to people who havè be•n Impact•d by an èmergency. Fundr•l•lnq •ctlvltl•s A5 det4lled earller In thls report, th• malorlty ol fundlnq to date has been recelved from Indlvldual donors and entitles assoclated wllh th• Dr. Martens plc group. The Foundatlon currently d0•5 not undertake wlde5pread lundralslnq from the publ1¢. All lundralslnq actlvltles •re mjnaqed Inl•rnally, wlthout Involvem•nl ol comrnerclal parll¢lpalors. proltsslonal lund-ralsers. or Ihlrd partles. Such •mounts recelvtd are presented In the fln•n¢l•l stat•ments Is Incom• from donatlons. We h•ve recelved no compl4lnts In relatlon to lundralslnq actlvllles. Fln•n¢l•l r•vl•w •nd ppll¢l•i Fln•n¢l•l r•vb•w For the perlod ended 31 March 2022. th• Foundatlon r•cord•d ¢loslng lunds of E2.5m. Thls Is predomlnantly Irom lundlnq r•c•l¥ed from the Dr. M•rtens plc qroup sh•r•htslders. Indlvldu)I donors Jnd other donatlons 1£3.3ml. Expendlture Included charltable expendltur• on qrants ol È0.6m and other 4dmlnlslr•llve ¢o$ls. DonJtlons re¢elved but not yet spent on charltable causes Jre Intended to bè grJnled to ¢harltles In luture perlod$ wlth a small proportlon s•t asldè for •dmlnlstratlve costs Is•• also r•s•rv•s pollcy below). The Board ol Trustee5 conslder the qolnq conc•rn b4$15 of preparatlon to be approprlale lor the Ilnanclal It4temenls as The Foundatlon has a slmple organlsat5onJl strsJ¢ture wlth no ltsn9"t•rm Iln4nelal commltmènts and h4$ sullSclent lunds to pay Its liabllltles as they loll due and dellver on ¢h4rllable qrants budqeted lor but not yet ¢ommltt•d to over the next IZ month R•s•rv•s pollcy The Re5erv85 pollcy applles to the Foundatlon and Is revlew•d annually by the Board ol Trust￿1. It deals wlth: Ensurlnq the Fouftdatlon holds an Jdeouate lev1 of reserve5 to meet Its obllq•llons.' •nd The level ol r•serves aoreed by the Trustees and the strateoy behlnd thls •nd Oulllnes how the reserve5 wlll be recorded •nd monltored. The Trustees alm to mJlnt•ln free reservts In unrestrlcted lunds at a level whl¢h •qu•tes to approxlmately thr•• months or 25% 01 optrotlonal Cost expenditure plus potenllal statutory redundancy Ilabllltle5. Unrestrlcted lunds Ir•s•rvg5) •s at 31 MJr¢h 2022 wer• É2.5m, hlqher than the t4rqet reseryes l•vel b•sed on the current p•rlod. Pl•nJ lor lutur• od.1 In the comlnq ytar, th• Foundatlon plans to contlnu+ to provld• charltable support In a¢¢ord•n¢• wlth Its oblectlves •nd str•teqy •$ tJ•scrlbed •bove. a5SiSted by th• Ilnan¢lal •nd operatlonal 5UPPOrt ol th* Dr, Martens pk oroup.

Dr. Martens Foundatlon Trustees, Report (contlnued) For the perlod ended 31 March 2022 stru¢tur•Lgov•rnan¢e m•n•g•m•n¢ As noted above, th• Foundatlon Is a charltabl• company Ilmlted by quarant•e, reglstered wlth Companles House and the Charlty Cornmlsslon. The Trustee5 have control ol the Foundatlon and It5 lunds. Th• Foundatlon 13 9overned bv It5 Arllcles ol A550clatlon and is independ•nt Irom Dr. Marten5 plc. The Fovnd•tlon was lormed followlnq thè Dr. Martens plc qroup Inltlal publlc olferlnq IIPOI on the London Stock Exchanqe. Shareholders and other Indivldua15 Involved donated lunds to the Foundatlon to qlve back to society bv supportlnq tsrqanlsatlons working to •dv4nc• 50clal 5usllce. The initial setup of the Foundatlon •nd the appolntment of the flrst Trustee5 were overse*n by the Dr. Martens plc qroup. A Memorandum ol Understandlnq IMOUI was •st•bllsh•d In Octob•r 2021 and Is now In plac• between the Foundatlon and the Dr. Marten5 plc 9roup lo outllne Its Independence and stlpulate how the Dr. Martens plc group wlll support the Foundatlon in Ils operatlons golnq forwards. Thls Includes but Is not Ilmlted to.. Aulhorljallon for the Foundatlon to use the Dr. Martens plc qroup'5 brandlnq Acknowledqement ol the Indepèndence or th• Foundatlon from the Dr. Marlens plc oroup That the Dr. Martens plc qroup wlll provlde lundlnq and other sUPPOlt to the Foundatlon Includlng cash lundlnq and q•neral acc•ss to resourc•s Irorn th• Dr. Martens plc qroup wlthout ch•rqe. The Tru5teeJ •re )ppolnted by Invltatlon to the Bo•rd by existlnq Trustees. On •ppolntmenl. In 5ftductlon Is qlven bv n exlsllnq Trustee explalnlno the qr•nt maklnq pro¢essès as well 4$ an o¥ervlew of the admlnlstratlve Pr￿ld￿r•S •mployed by the Foundatlon. The Trust•es meet al r•qular Inler¥•ls, at least lour tlrnes a year, to COn51der the stilus ol th• foundatlon's lundlng. r•s•rves, rlsks and grant maklnq. Th1$ •nsur•s all relevant admlnljtratlon and dec551on maklnq occurs on a tlmely basl Th• Trustees th•t held olllce durlnq tho p•rlod were •$ follows: Emlly Relchwald (Chalrl - bppolnted 2 February 2021 Darr•n Campbell - appolnted 24 January 2022 Pamela Shores appolnted on 7 Aprll 2021 Paul Armslronq appolnted 2 February 2021 Tuze M•klk Arouedas Schwank - •ppolnl•d Z M)r¢h 2021 Th• Trust•es have deleqat•d the day"to.day organlsatlon41 manaq•m•nt to th• Found•tlon Manaqer who was ppolnted by th• Trustee5 In Febru•ry 2022 lo ensure that the Foundatlon lunds are Invested carefully and 9en•r•le socl•l return. As ntsttd above. th• Dr. Martens plc qr04hp •lso provldes •sslslance thr¢u4h sh•rln4 01 resources such as Flnon¢e. Leo•l •Trd HR support to asslst In the funnlno of th• F¢)und•tlon. As Ihe Foundatlon qrows. formal ¢rlt•rla and mea5ur•s wlll be d•v•lop•d to m•Jsur• the Foundètlon'i succ•ss. R•rnuneratlon ol the Foundatlon's one ern￿oYee (the Foundatlon MJna9•r} has been set In Ilne wlth the Or. M•rteni ppc qroup's pollcies and benchmarhi. The board ol Tru5tee5 appolnted the Foundatlon Manaqer. currently Golslna Bequm, who lead5 the Foundatlon's m8noqement. She Is responslble lor the day to manaqement of the operatlon and Ilnances ol the FoundJtlon. In1•r￿1 ¢gntrol¥ Ind lh• mltlq•tlon..of rliki The Trustees have Identlfled the maln rlsk ol the Foundatlon as b•lnq th• Inthpproprlate qrantlnq ol lunds to thlrd partle5 and potentlal mlsu5e ol lunds by those partle5. The Trustee5 hav• e5tabllshed Internal controls to mltl9•t• these r15ks whlch are Included In th• grant maklnq pollcy detJlled e•rller In thls report. The Tru5tets ¢tsnllrm that these and other controls lrnplementtd are approprijte to the $12e ol the Foundation and the nature ol Ils oper•tlons. In the ab5encp o15ppcill¢ quld•n¢e poll¢les dèvèloped by the FoundJllon. Or. Martens pl¢ qroup poll¢le$ 4re lollowed to en5vrè •ll •¢tivltle$ 4re Jpproprlately ¢ontr¢lled. st•tirn•nLp.t trustMJ'￿￿nslbI1stI•I The trustees Iwho are also dlrectors ol Dr. Martens Foundatlon lor thp purposes of company lawl are responslbl• for preparlnq the Tru5tees' Report and the flnanclal statements In 4¢¢ord•n¢e wlth appllGJble l•w and requlatlon.

Dr. Martens Foundation Trustees. Report (contlnued) For the perlod ended 31 March 2022 Company law fe4uires the trust••s to prepare finan¢lal 5tat•menls lor each Ilnanclal year. Und•rthat law the trustee5 have prepared th• flnanclal statements In accordaneè wlth United Klnqdom Atcountlnq Standards. ¢omprlsln9 FRS 102 'The Financlal Reportlrq Standard appllcable In th• UK and Republlc of Ireland" and appllcable law Iunlted Klnqdom Generally Accepted Accountlng Practlce). Under ¢ompany law the trustees must not approve the fln4n¢lal 5tatem•nts unle55 they ar• satlsll+d that they qlve true and lalr vlew ol lh• state of the Jflalrs ol the ¢harltable company and ol the incominq re50ur¢es and •pplic•tlon of resource5, Includlnq the Incom• and expendlture, ol th¢ charltable comp4ny lor that period. In prp•rlng thès• Ilnlnclal statern•nts. th• trust••s ar• r•qulr•d to: In preparlnq these flnanclal Jt•tement8 the Trustees are requlr•d to". select sultable accountlng pollcles •nd then apply them ¢onslsl•ntly; observe the methods and Pflnclp195 In the Statefflent of R•cornrnended Practlce: Accountlng and R•portlnq by Charltle$120191', make judqernents and •stlmales that are reasonable and prud•nl', slate whether appllcable UK Accounting Standards, comprlslnq FRS 102, have been lollowgd, subl•¢t to any materlal departures dlsclosed and explalned in the flnanclal 5t4tern•nls'. and prepare th• Ilnanclal statements on the qolnq ¢on¢ern ba$15 unl•ss It Is In)PPfoprlat• t¢ presum• th•t th• charltable company wlll contlnu• In buslness. The trustees are responslbl• ltsr keepSng adequate occountlnq r•cords that ar• sufflclent to show 4nd explaln the Charllable company's transjctlons •nd dlsclose wlth re•son•bl• accur4cy at any tlme th• Ilnanclil p051tlon of the ¢harltable company •nd en•ble them to ensurè that the Ilnancl)I st•lements comply wlth tht Comp•nles Act 2006. They are also responslble for uf•quardlnq the Jssets ol the ch•rltabl• company and hence lor t•klnq reasonable Itepi for the preventlon and d•t•ctlon of Iraud and olh•r Irreqularltl•s. In •c¢ordance wlth Seetlon 418. dlrectors, rtports shall In¢lude a statement. In the case ol •och dlr•ctor In offlco at the d)te th• dlre¢tor5' r•port Is approved. that: 50 far a5 the Iriiste• li awarè, there Is no rel•vJnt audll InformJtlon ol whlch the comp•ny's iudltors •r• unaware., and they have taken all the iteps that they ovqht to have taken 45 • tru5t•e In order to make thems•lv•s •war* of any relevant •udlt lnlorm4llon and to establlsh that the ¢ompany'3 audltor5 ar• aware ol that Informatlon. On behall ol the Bo•rd ol Truit••s Emlly Rel¢hw4ld Chalr oi fru$tees 26 January 2023 Company number: 13174032 Charlty number.. 1194513

Dr. Martens Foundation

Independent Auditors' Report to the Members of Dr. Martens Foundation

Report on the audit of the financial statements

Opinion

In our opinion, Dr. Martens Foundation's financial statements (the "financial statements"):

We have audited the financial statements, included within the Trustees' Report and Financial Statements (the "Annual Report"), which comprise: the balance sheet as at 31 March 2022; the statement of financial activities (incorporating an income and expenditure account) and the statement of cash flows for the period then ended; and the notes to the financial statements, which include a description of significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is Sl)fficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charitable company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.

6

Dr. Martens Foundatlon Independent Auditors, Report to the Members of Dr. Martens Foundation (contlnued) 8ased on our work undertaken In the ¢ourse of the audlt. the Companies Act 2006 requires us also lo rèport certaln oplnlons and matters as descrlbed below. Tru5tees' Report In our oplnl¢n, based on the work undertaken In the course of the audlt the Information given In the Tru5tee5' Report for the perlod ended 31 Mar¢h 202215 conslstent wlth the linanclal statement5', and the Trustees, Rèport has been prepared in accordance wlth appllcable leqal requlrements. In addltlon, In Ilqht of the knowledge and under5tandinq of the charltable Company and Its •nvlronment oblalned In the course of the audlt. we are requlred to report If we have Identllled any materlal mlsstalements in the Trustees. Report. We have nothlng to report In thls respect. Responslbllltles for th• f Inanclal statements and the audlt R•sponslbllltl*s 91 th• trust••s for th• flnanclal st•t•m•nt5 As emplalned more fully In the Statement ol Trustees, responslbllltSe5 the trustees (who are a150 the dlre¢tors of the charltable Cornpany lor the purp05P5 of company law) are respon51ble lor the prep4r•tlon ol the fSnancl41 5taternents In accordance wlth the appllcable Iramework and lor belnq satisfled that they qlve a true and lalr vlew. The trustees are also re5ponslbl• for such Internal control 4$ they determlne Is necessary to enable the preparatlon of tln4n¢lal statemen15 that are fr•e Irom materSal mlsstatempnt, whether due to fraud or error. In preparln4 the flnanclal stjtements. th• trustees are re5ponslble for J$sesslng the ¢harStable comp)ny'$ blllly to conllnue a5 a golnq ¢Dn¢ern, d15closlnq as appllcable, matters related to golnq concern and uslnq the qolnq concern b4515 ol accountlng unless the trustees elther Intend to Ilquldate the ¢harltable company or to cease op•ratlons. or have no reallstl¢ alternotlve but to do 30. Audltors. r•sponslbllltl•s l•r th• •udlt ol th• fln•nrl•l Jt•t•m•nts Our oblt¢llves are to obl4ln reasonable assurance about whether the flnanclal statements as a whole Jre free from materlal mlsstatement, whether due to fraud or error, and to Issue an )udltors' report that In¢ludes our opln5on. Reasonable assurance Is a hlqh level of assurance. but 13 not a guarantee that an audlt conducted In accordancè wllh ISAS (UK) wlll alwJys detect a mater141 mlsstatement when It exlsts. Mlsstatements can 4rlse Irom fraud or error and are consldèrèd mjterlal 11, Indlvldu)Ily or In the aqqregate, they could reasonably be expected to Influence the economlc declslons ol users tak•n on the bosls of these flnancljl statements. Irreqularllles, Includlnq fraud, are In51ance$ of non"compllance wlth l)ws and regulatlons. We deslon procedures In Ilne wllh our responslbilltles, Outllned above, to detect materlal mlsstatements In respect of Irreoularltle5, Inclu¢lno Iraud. Tho extent to whlch our procedures •re eapoble of detecllnq Irreqularltlos, Includlnq fraud. Is detalled below. Based on our understandlnq of the ¢harltable company, we Identlfled that the prln¢lpal rlsk5 01 non-compllance wlth laws and requlatlons related lo the Ch4rStles Act 2011. and we consldered the extent to whlch non- ¢ornpllarsce mlght have a rnaterlal effect on the flnanclal statements. We also consldered those laws and regulatlons that have a dlrect Impacl on the flnanclal statemènts such as the Companles Act 2006. We evaluated rnènaoement's Incentlves and opportunllle5 lor Iraudulent manlpulatlon of the flnanclal staternents (In¢ludlng the rlsk of overrlde of controls), and deterrnlned that the prlnclpal r15ks were related to journals posted by trustees or In¢ludtd unusual words and qrant expenditure cut off. Audlt pro¢edures performed In¢luded: Enqulrlnq of manaqement of known or suspected Instances ol non-compll)n¢e wllh law5 and requlatlon and fraud: Identllylng and testinq Journal entrle5, includlng those posted by unexpected users; Incorporatlnq an elemènt of unpredlctablllty into our te5tlng', Revlewlng of leqal expenses within the perlod and post perlod.end to undersland the nature of any leqal expenses Charqed; and Revlewlnq flnanclal statement disc105ure5 and testing to 5UPPOrtlng documentatlon to assess compllJn¢e with Companles Act 2006 and Charltle5 Acl 2011. There are Inherent Ilmltatlon5 In the audlt procedures descrlbed above. We are less Ilkely to become aware of Instances of nDn-compliJnre wlth laws and requlatlon$ that are not closèly related to events and transa¢tion5 reflected In financial statements. Also. the rlsk of not detectlng a materlal mlsstatement due to fraud Is hlqher

Dr. Martens Foundatlon Independent Auditors, Report to the Members of Dr. Martens Foundatlon (continued) than the rl$k ol not detectlnq one resultinq from error, as Ir•ud may Involve deliberate concealment by. lor example, forqery or Intentlonal mlsrepresontations or throuqh colluslon. A lurther description ol our responslbilitles lor the audlt ol the flnènclal statements 15 located on the FRC'S webslte at: www.Irc,orq.uklaudltorsresponslbllltles. Thls descrlptlon forms part ol our audltors, report. Use ol thls r•p?rt Thls report, Includinq the oplnlons, has been prepared for and only lor the charltV'5 members as a body In accordance wlth Chapter 3 of Part 16 01 the Companlos Act 2006 and for no other purpose. Wt do not, In oivlnq these oplnSon5, accept or assume responslblllty for any other purpose or to any other person to whom thls report Is slown or Into whose hands It may come save where expressly aqreed by our prlor consent In wrltlnq. other requlred reportlnq Companles A¢t 2006 exceptlon reportlnq Under the Companle5 Act 2006 we )re requlred to report to you 11. In our oplnlon: we have not ¢blJlned all the Inlormatlon and explanJtlon5 wè r•qulre for our audlt., or dequate accountlnq records have not been kept Of return5 ade9Uate lor our audlt have not been recelved Irom branches not vlslted by us., or certaln dls¢losure3 ol tru51ees' remuneratlon specllled by law Jre not made., or the Ilnanclal statements are not In aqreem•nt wlth the accountlng records Jnd return5. We have no •xceptlons to report arlilng from th1$ r•sponslblllty. Entitlement to •xernptlons Under the Companles Act 2006 we are requlred to report to you If, In our oplnlon. the trustees were not enlltled to: prepare flnanclal statements In )ccordance wlth the small cornpanles, reqlmè; take advantaqe ol the small companles, exemptlon In preparlnq the Trustee5' Report,. )nd take advantaqe ot the small companles exemptlon Irom preporlnq a Slrateqlc Report. W• have no exceptlon5 to report arlsln9 from thls responslblllty. ll foRkn Letitla Poppl•well (Senlor Statutory AudltOTI for and on behall ol Prlcewaterhou5eCoopers LLP Chartered A¢count4nts and Stalulory Audltors London, Unlted Klnqdom 26 January 2023

Dr. Martens Foundation statement of Flnancial Actlvlties For the perlod ended 31 March 2022 Ilncorporatlng the Income and expendlture accounti Unr•strlct?d and T•tal lunds P•rfod •nd•d 31 March 2022 £000 Note Ineom•: Donallons Total Incom• 3.320 3.320 Expendlture: harltjble actlvltSes Other costs stall costs Tot•1 •xp•ndltur• 18441 17) 19) 1860> N•t In¢om• and n•t mov•m•nt In funds for th• •rlod 2,460 R•conclllatlon of fundi: Total funds brou ht lorward 2 Febru4r 2021 Tot•1 lunds carrl•d forw•ril 31 March 2022 2,460 The IlnJn¢lal statern•nts ar• present•d lor the perlod of 2 February 2021 Ith• date ol In¢c+rporatlonl to 31 March 2022. The note5 on paqes IZ to 16 form part of these Ilnanclal statem•nts. All Incom• and expendlture ar• derlvèd Irom contlnulnq actlvltles. The Foundatlon ha5 no r•¢oonl$ed qalns or loss•s other than thos• shown above )nd ther•lor• no separato Incom• Jnd expense account dlsclosur•s have been presented.

Dr. Martens Foundation Balance sheet As at 31 March 2022 Not•s Asat 31 March 2022 £000 Current ass•ts: Debtors cash at bank and In hand Total curr•nt ass•ts 201 2,804 3,005 Curr•nt Ilabllltl•s: Accruals Payables Total ¢urr•nt Ilabllltl•s 191 15361 1545) N•t curr•nt ass•tJ 2,460 Net aSS•ts Z.460 Th• lunds ol the Found•tlon: Unre5trl¢ted funds Tot•1 Foundatlon lunds 2.460 2.460 The Ilnanclal statements are pr•5•nted for the perlod of 2 February 2021 to 31 March 2022. The notes on pjoes 12 to16 form part ol these flnanclol statements. The Iln4nclal statements have b••n prepared In ac¢ordan¢• wlth th• speclal provlslons appllcable to ¢omp•nl•J subject to the small ¢ompanles' reqlrne and In •¢¢ordance wlth appllcable ch•rlty law. The flnancljl st4tem•nts present•d are for an IndlvSdual entity. Th• Ilnanclal stal•rnents were approved and authorlsed by th• Board ol Trustees and slqned on Its b•half by: £mlly Relchwald Chalr ol Trustees 26 January 2023 Company number: 13174032 Charlty number.. 1194513 10

Dr. Martens Foundatlon statement of cash flows For the perlod ended 31 March 2022 Perlod •nd•d 31 Marth 2022 EOOO C•Jh Ilows frnm op•ratlnq aetlvltl•J: Net Cash rovlded b eratln a¢tlvltles 10 2,804 Ch•n • In cash •nd Cash •qulval•nts In th• 2,804 Cash and cash • C•sh •nd ¢ish e ulvalents at the be Innln of the erlod ulval•nts at th• •nd ol the p•rlod 2.804 The IlnJn¢lal statements are pres•nted for the perlod of 2 February 2021 to 31 March 2022. 11

Dr. Martens Foundation Notes to the Financial Statements For the period ended 31 March 2022 G•n•r•l Inf•rm•lion Dr. Marten5 Foundatlon Is a prSvate Ilmlted company by quarant•e Incorpor4ted In England and Wales under the Companlos Act 2006. The Company'5 reglstered office is 28 Jamestown Road, Carnden, London United Klnqdom. NW178Y. AccouDtlnq wll¢l•$ The prlnclp41 accountlng pollcle5 adopted In the preparation of the finan¢lal statements ore Set out below. Amounts ar• presented In GBP and to the nearest thousand pound5 unless otherwlse noted. 2.1 B•sls ol preparatlon The 1Snanclal Statements have been prepored in accordance wlth Unlted Klnqdom Accountlng Standards. cornprlslnq FRS 102 (The Flnancial Reportlnq Standard appllcable In the UK and Republlc ol Irelandl, thg Chjrltles SORP IFRS1021'Accountlno and Reporllnq by Charitles- Statement ol Recommended Prattice. the Charltles Act 2011 and the Companles Act 2006. The Ilnantial statements have been prepared under the hlstorlc cost conventlon on a qolnq concern ba$ls. The Ilnanclal statements are presented for the perlod of 2 February 2021 to 31 March 2022. .£ i uniis •no 90inq Gpnr•rn Unrèstrlct&d funds comprlse those tunds whlch the Trustee5 are free to Use for any purpose In furtherance ol the charltable oblect5. Unrestrlcted funds Include deslonated tunds where the Trustees. at thelr d15cretlon, have created a lund lor a speclllc purpose. Restrlcted lunds are funds whlch are to be used In accordance wlth speclllc re5triclloni IrTiyvbEd by lh¥ (luriui vi" Irtssl dééd. Thére werè no restrlcted fund5 held by the Foundatlon 4Jurlnq or at the end of the perlod. The Board ol Trustees conslder the qolnq concern bosls of prepjrjtlon to be approprlate lor the flnanclal $tatements and there are no materlol uncertalntles about the Foundatlon's Jblllty to contlnue as a golng concern. The Foundatlon has a sSrnple orqJnlsational structure, conslstlnq of don)tlon5 belng recelved, whl¢h Ire thn spent on grant award5 and mlnlmal )dmlnlstratlve costs. Grant obllqatlons at perlod end are covered by cash balances held at perlod end and the Trustees have a hlqh level ol control over qrant expendllure oolnq lorwards. Trustees will not ¢ommlt the Foundallon to any qrants Jnd allow a larqe bulld.up of Ilabllltles unless there Is sulflclpnt cash avallable to do 50. 2.3 In¢offl• Donatlons are recoqnlsed a5 Income once the Foundatlon has tntltlement lo It, It Is proboble th81 the re5ource$ wlll be recelved, and the value of Incomlnq resources ¢8n be measured wlth 5ulllclent rellablllty. Donatlons Include amounts recelved from Indlvlduals and ¢ornpanlgs, a5 well as qlft Jld on relevant UK Indlvldual donatlons. Oonjtlons also Include qllt5 In klnd from the Dr. Martens pl¢ qroup. whl¢h are recoqn15ed In Ilne wlth the above In the perlod that the ¥llls were recelved and relate to. Glft5 In klnd Include Dr. Martens plc qroup donaled manaoem•nl tlme and payment of ¢ertaln admlnlstrative costs. An equal and opp055te entry 13 recoonlsed wlthln expendlture to represent what the cost would have been to the Foundatlon, 2.4 Exp•ndltyr• Expenditure Is recogni5ed on on accruals basls. Expendlture Includes any VAT charqed as the Foundatlonls not VA T reolstered and hence does not recover VAT, Chjrltable expendllure comprlses costs Incurred by the Foundatlon relatlnq to the d?Ilvery of Its charltable oble¢tlves and paymen15 ol qrants to beneflclarles. Granl costs •re expensed when there Is a bindiftq commltment to provide fundinq, which is dellned a5 when both the Foundatlon and the thlrfj party have siqned the fundlnq contrJ¢t, and there are no further condltlons whlch must be fullllled by the thlTd party. Charltable actlvltles also In¢ludes the expendlture associated wlth qlfts In klnd re¢tlveJ ano Included wlthln donatlons as per the above. (Xher ¢osts Include those costs assoclated wlth meetlng thg constitutlonal and 5talutory requlrements ol the Foundation and include admlnlstrative leq41 cost5 not dlrectly Ilnked to ¢hJrltabl* Jctlvltles but requlred to a55lSt wilh the set up ol the Foundation. staff costs Include the costs of employment of the Foundatlon Manager. 12

Dr. Martens Foundatlon Notes to the Financlal Statements {contlnued) For the perlod ended 31 March 2022 2.5 D•bt•rs The charlty has ehosen to adopt Sectlon$ 11 and 12 01 FRS 102 In respect of flnJnclal Instruments. Debtors are recoqnlsed at falr value when It is probable that future economic beneflts will flow and the value can be measured reliably. They are subsequently measured at arnort15ed ¢o$t u$lnq the elfective Interest rate method less provision for impalrment. 2.6 Cash •t b•nk and In hand Cash at bank •nd In hand Includ•s cash JI bank only. 2.7 Accruals and payabl¢i The charlty has chosen to adopt Sectlon5 11 and 12 of FR5102 In respect of linanclal Instrvments. Creditor5 Intludlnq accruals and payables are recoqn15ed a5 a result of an obllqatlon to transfer economlc beneflt5. usually Cash payrnents, to a thlrd party, Payables Include amounts due to thlrd partles vnder qrant expendlture obllgalions. 3. Donatloni Unr•strlet•d •nd Total funds P•rlod •nd•d 31 M•r¢h 2022 £000 Dr. Martens pl¢ qroup Shareholders •nd related Indlvlduals- donatlons Gllt ald on Indlvldual UK donatlons Gllts In klnd other 2,832 201 247 40 3,320 Gllls In klnd Include Dr. Martens plc qroup stalf tlm• donated, Jmounts Involced to the Foundatlon pold for on Its behalf by Dr. Mart•ns plc qroup entitles, and arnovnt5 Involced to Dr. Martens plc group •ntitles relatlnq to Foundatlon costs, 4. Exp•ndltur• on ¢h•rlt•bl• •¢tlvlll•i Unre$trl¢t•d Ind Total lunds P•rlod •nded 31 MJr¢h 2022 £000 Grants to Institutlon5 Glfls In klnd ex endlture 597 247 844 Pèr the above, •xpendlture on ¢hJrltabl• actlvltle5 Includes amounts donated or obllqated as orants to thlrd party charltles. All orants were made to Institutlons IchJrltlesl rather than Indlvlduals. Gr•$$ro•ts grant p.ro.qramm•: We prlmarlly fund qra55root organlsatlons that tackle soclal Inlustlce throuqh the followln4 four thematlc areos: Hyman Rlqhts Wlthin our Human Rlqhts area we fund organlsatlons that support people to access legal servlces and ensure that thelr dlgnSty remalns intact when fleelng war or being trafllck8d. An example of 4n organlsat5on we lund Is Mlcro Ralnbow who seek to support LGB TQ+ people Ileeinq persecutlon from the Taliban reqlrn• In Af9hanlstan. P•rtl¢lpatlon We want to ensure that all vol¢es are heard and can pjrtlclpate In 50clety. Our qrant to the Rock Trust 15 jn example ol how organl$atlons ensure that the volces of marqlnallsed qroups, In thls case younq homèless people, have to be at thè centre o15haplnq pollcies at lo¢al 4nd natlonal level. 13

Dr. Martens Foundatlon Notes to the Flnancial Statements For the period ended 31 March 2022 4. Exp•ndltur• on charltabl• aetl¥ltl•i (conllnued Equity Thls theme hopes to tackle the structural Inequallty and embedded bias that exist within our so¢letles. An example ol our support In thls area Includes a grant the Antl-Bullylng Alliance who have (Jellvered campaiqn tJcklinq appearance tarqeted bullyinq In sehool$. Another example Is our qrant to FORWARO. whlch focu5e5 on scallnq up thelr Black and Mlnorlty Ethnlc younq women's leadershlp Prograrnme. Aceass For social justice lo thrlve we need to ensure that all people have acce5S to essentlal servlces and resource5. Our qrant to Attitude is Everythlnq Is an èxample ol how 9roup5 can be excluded from occes5 5ervlces and orqanlsatlons Ilke th15 Gan ensure that lestlva15 and venues are accesslble to people who are dlsabled. Emèro•ncy qrant proqrarnm•: We a150 donate funds when emerqency humanltarlan sltuatloThs occur. i otal.9r•nt5 •w•_rsAp Th•matlc ar•1 Numb•r of granti Unr•strlct•d and Total funds P•rlod •nd•d 31 March 2022 Éooo Hurnan rlqhts Parllclpatlon Equltv Acce55 Emer enc 80 155 124 138 100 597 r)nt$ 34 S. Audltori. r•mun•ratlon P•rlod •nd•d 31 M•rch 2022 £000 statutory oudlt ol the Foundatlon'3 flnanclal statements 42 42 The above lee Includes VAT as thls 15 an expense to the Foundatlon as 11 15 irre¢ovef•ble. The VAT exclu51ve amount was É35k. The lee was paid lor tsy the Dr. Martens plc qroup as part of It's support ol the Foundatlon and ther•lore the cost (and donatlonl Is Included wlthln qllts In klnd In th• Ilnanclal Statements. 6. St•lf ¢•$ts Perlod •nd•d 31 March 2022 £000 Wages and solarles Soclal secuTlty costs No employee recelved emoluments of more than £60.000 Idurinq th• perlod nor when calculated on a lull year equlvalent bjsisl. The average number ol employees durlnq the perlod. ¢)Iculated based on lull-tlme equivalents. was zero las the Foundatlon Manager lolned Sn February 20221. The Foundatlon doe5 not operate any penslon 5cherne for Its employees. 14

Dr. Martens Foundation Notes to the Flnancial Statements (contlnued) For the perlod ended 31 March 2022 7. Grant ¢redltors and cornmltments Payables represent grant credltors and commltmenl3. 31 M•r¢h 2022 EOOO Pa able5 536 536 None of the qrants made had perlorman¢e related commltments attached to them. Payables represent orant5 comrnltt•d to but not paid al perSod end. All payables are expected to be settled wlthln 12 months ol the perlod-end date, funded vio donatlons. The fair value ol payables Is the Sarybe as the carrylng values shown above. 8. Trust•• f•mun•rallon and r•lat•d party trJn5actlons No Trustee re¢elved any remuneratlon or reSmbursernent ol expenses relatlnq to th•Sr sefvlces to the Fovndatlon durlnq the perlod. Trustees donated amounts to the Foundatlon In the perlod: Emlly Relchwald- £25,000 Darren Carnpbell- E25,000 Tuzg Meklk Arquedas Schwank. £100 Emlly Rel¢hwald. a Trustee of the Foundatlon. was also a Dlrector al Alrwalr Inttrnatlonal Llmlled durlng the perlod. Durlnq the perlod. Alrwalr Internatlon)l Llmlted donated £3,168 as cash Jnd £106,702 by way of qllts In klnd to the Foundjtlon, A credltor balance was outstandlnq at perlod end to Alrwalr Internatlonal Llmlted of £8.863 relatlnq to st•lf costs pald for by Alrwalr Inlernatlonal Llmlted but owed by the Foundatlon. Emlly Relchwold was also a Dlrector at Dr. Martens plc durlng the perlod. Durlnq the perlod, Dr. Martens plc donated É141.200 to the FoundJtlon by way ol qlfts In klnd. Poul Armstrono. a Trvstee ol the Foundallon, was a150 a Dlr•ctor at Permlra Advlsers LLP dvrlnq the perlod. Whllst there werè no related party tr•nsa¢tlons wlth Permlra Advlsers LLP, durlnq the perlod, companles reloled to Permlra Advlsers LLP donated to the Foundatlon,. InqreLux S.&r.I, and the Permlra Foundatlon donated E2,000,000 and £40.000 re5pectSvely Jnd In substance were Ilnked to thls connectlon and are on51dered related party transactlons. 9. T•xatl•n As a ¢harlty, the Dr. Martens Foundatlon Is exempt from lax on Income and qalns lalllnq wlthln the charlty exemptlons In the Corporatlon T)x A¢t 2010 or 5256 01 thè Taxatlon ol Chargeable Galns Act 1992 to the extent that these are applled to Its charltjble objects. No tax charqes have arls*n In the perlod. 10. R•concSll•tlon of n•t Incom• to n•t Cash provld•d by op•ratlnq •¢tlvltl•i Unr•>trl¢t•d and Total funds P•rlod end•d 31 March 2022 Éooo Net Income Iper Statement of FlnJncial Actlvltlesl 2,460 Adjustments lor: Increase in debtors Increase rn creditor5 Net cash enerated trom operatln 12011 545 2.804 activitie5 15

Dr. Martens Foundatlon Notes to the Financlal Statements (contlnued) For the perlod ended 31 March 2022 11. Unrestricted lunds Unrestrlet•d and Tot•1 lund$ P•rlod ended 31 Mjrch 2022 £000 Funds Js at 2 February 2021 Nèt Income ( er Statement ol FSnanclal Actlvltlesl Funds a5 at 31 MJr¢h 2022 2,460 2N60 12. Analy$l$ •1 n•* •ss•ti b•tw•en fun41 Vnr•¥trlct•d and Total lunds 31 M•rch 2022 £000 Currenl asset5 Current Ilabllltles Total net assets 3.005 1545) 2N60 16