Chrly r•*tr•llon numb•r 1203091 Coftwy rnql•tr•tlon numb•r 137936M IEnol•nd and W•l••) DIDACT FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
DIDACT FOUNDATION LEGALAND ADMINISTrATIVE INFORIIATION J GrfINn trGThom P Hllhy J MCL• ktrJMthn 20231 Ch•fty numb•r 1203091 C¢xnp•ny numb•r 13793000 Audjtor Th• B••P B••hfv• Road Unk•d Klr* OPA
DIDACT FOUNDATION CONTENTS P•9• Ind•p•nd•nt r•wi 8t•tsmwl rflln•ncl•l •¢MI•• 10 11 Not•• to th• fln•rd•l datwrrtr 12-19
DIDACT FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPOR FOR THE YEAR ENDED 31 DECEAIBER 2023 Tr• Truth# pr•Mnt th•lr rwt flnwKld •lat•m•nt• fix th• y••r and•d 31 D•camb•r 2023. Th• tru•tee• h•v• •dopt•d of the Statsm•nt of R•¢¢ytYnw•d PrAdce (SORP) 'keoLWrtIry And R•porlng by Ch8rltkn' In prepwlry the r•yt and ilnarKa&l •t•tsm•nt• Of th• thartty. The fin1nd •t8t•monts havo be pr•p•rnd In aw)rkn TAh th• ocuurthy pDlld•8 e•t oul In 1 to the Ilnandal thm•nt• and e)mpty th• tharltable CoMp•nl M•mOrnnm and Ath of A••odaUon, th• Campink88 Act 20th8 and Reportlw ty Ch•rltkn•'. St&•m•nt of R•comm•nd•d pre •prll(bl• to dwttl Prar1j thdr accltI In thllh tho FIn4nd R•pttr4 SIArxl¥d appllc•bl• In tr• UK •nd R•publlG of lrnland pJbll•hed In O¢l¢b•f 2019. ObJ•ctlvM and athlll•• To Mgulw rnoon98 of th• Bowd to W thom I••11 ¢1 ¥U¥lUo8 and ts •n•ur• th• loll r••pon•lblllUu of th• chorty arn UpId. R•gul•r m••Yng1 of th• P)oC to m•knl•ln oVw9ht of th• trlah portfollo In ¥thlGh DIDACT FourKlaYon an Intw•Jt. R•9 mo1n1 of th• EOT to compty ¥lth the •ponwthp Mrnlght r••pM•fbiiitl•• of tho group th• •ponK (th• CEO) ol In¥••doth4Iknt•d trl•b. Th• EOT r•¥b all nvw trfal propoD•l• Ilh th• guld•nc• aflh• rnad11 l•dw•Np t•m olth• TAP and IMpKf n•lffj. To •thbll•h th• DIDACT FrAmddC k•d•my to mortor•hW onts for th• r•xt 9•n•rallon oftht¢xl trW•t Hdp th• UK r•M•th dw•lop trrQlwI • kYo•p•th• dlnl(xl r•lll•ty af MIL p•U•ni• In lh• UKAnd to yovld• •p)n•or•hlp e4p•blMty for tN• rnO•by. D•lOpMl gl ts flrnt Adlry Bod lor • ph•¢•1 compwry. An M¥l•ory Bo•rd F• • mo?rvI th•r• a group of •Al•rn •xpts (In H••matoloo11ts) conw ty • compAry to pt th•lr wof•i•lonal •d¥k• •nd In•lghts on • •p•rJlk topk lor*thlGh th• •xp•rUM and knrthledqe w• not lthln th• ComnY. In d•v•l4Thl h a Patlent WKI In¥•m pkn lo to th• c•ntr• ofth• oWUv••- W•nl and Publlc Inthmml and IPPIE) l• worklng pthnt• •nd lh• publle to lhpe DIDACT FOundatt r••••r¢h, and w9• wth It. th ¢•n b• d•mon•trth by tho pro•once of • p•tknt r•prM•rrtalfv• In •ach ofthe DF m•8llrYJ gr¢up• •nd lh• of the fir4t MHRA proved dInSl trld ty P•O•nL Th• Tru8to•8 hav• r•g•rd to l•AMd ty tho Chwlty In d•cldlTrJ Wh KIMU•• th• ckn•rltabh c¢mp•ny und•rt•k•.
DIDACT FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achl•v•m•nts and pwlorm•K• Malnl•ln•d wn•ornhlp owrht of th• bl81 ACT-AML-101 0• r•ryJr•d ty rwul•lloM. Th1• trlal. hryAw•r, wa• tsnnlnal•d b•for• M r•(¥ult•d •ny pthrt• b•¢au th• In¥•9• dNg dwm•d ty the FDA to not b• worthy of fijrthar dlnk4f d•v•lown•nt and th4thth ty th• piitrr compjny. Al th• •tak•hold•r k•pt Irrfm•d d progr•M 8nd d•mlM ofthl• trlal. Th• DF Acthmy wa• ••labll•h•d. IMd a tmxklng pwty f•Wwty kn pn and d•1[r th• frf•t pvt al • Ip•rt tr•lnlng mrwnm• lunlor h•wn•tologl• •nd rnArth ha¥• ambltlcrt to bo In¥d¥•d In bknod cancer dlnlcd reDo•rth. Th• took Pla In N(y40mb•f rK•l¥•d ty tho partklpants 1[ Idn th• ••cond part of th• woor•mm• In Awll 2024. Th• fvThir•mmo •• pukAld••d wlthln th• UK h••m•tology Communty w•• +)v•rnubKrlb•d. All p•rtklp•nts hm ncAV b••n mtch•d ••nbor ha•m•tdogF•ts morn. Our fvrKllng p•th?r (Lwk•eThd• UK) vvj DIDACT r•port•d on th• flrnt pNt ofth• •v•nt through d•1 m•dla • pr$ rnl•A••. Th•AY w• p1w[nll fL¥th•r •v•nt•. Ing th• r••••th DIW oYrtrn¢thd ¥•th • pvtrr 4)ry•nl•thn (5PHC8) to hdp d•¥dw • UKAML R•gl•ty. Ihlll b• kr •• kfy•Cw• r•g1•ty. A rlwrw• pro¢M• wa• wrt In pl•¢• to IdtIfy a •uknbl• v•ndor tr d•t• ¢•pdirn •nd mwwwn•nl and to p•rfm lh• op•r•ODnol r•qutr•m•nl•. A• • r••utt, ACT 11 be tho OPOnI1 partrw D•ndrft• Cllnk•l Ltd VAI man•90 dats c•pturo and th• d•t•b•M. IAIrt t)n th• rngllty li ongolw and Mv•rnl mllethnè •lop• hm In pl•c• to opan th• r•g11ty In Q12025. A m••tlng Thlth Pol•nu Wwmi•¢wts¢•l ¢(Ynpary fvndw• h•• b••n wrnng•d and • funthry pro•pectt4• pr•par•d. All ¢lthl• h•• b••n thld•ty put4d••d th•AML C¢fflMw. DIDACT Foundthn •e•ll1 got i w•it evro•ry to th• dMknpm•nt of thli AeAft• ktydold L•ukn•ml• IAVL) P•tl•nt r•th. DIDACT Foundauon off•rnd ¢¢YInU0 •Lywl to Inv••Ygth to dlnl¢•l trlali to bo run through th• TAP •nd IMPACT ¥rtihACT •• th• waOon•l p•th•r. Sw•r•l Irr sYopD••l• •r• L¥)n••qwnty •t • l•t• DIDACT FouNl•lon g•n•r•d Incxx• In 2023 for th• •&Vw bo•T(I h•lp to pn>v• •th• to • Ph•rmac•uUG•l comp•ry. Th1• •dvl•(vy bowd l• th• frf•t of h kIr for DIDACT FodItIOn A• ouulnod undw •etlvlll•• for th• y•ar and h•• b••n publlcl••d th• Ij•M (xmmunty aThl DF pl•nnlng to run furthr nts cf tN• naturn In Ihb fikn. Fln•n¢lal r•vl•w It l• th• polky of th• elth•bl• oomwry Ththlth n¢X b••n for a •p•cMc u•• •hk1 m•lnlth•d It • k8vd oquW•rt to bthwn thr•• •Thl Ilx moMh'• •ypth1o. The Tru•t•M ¢¢n•ld•r that r•Mrm at th1• IWMI vlll •n•ur• th•t. In th• w•rrt of • •Sllnllle•rt dr In fiJn¢l]no. th•y wll b• abl• to conlnu• tho charltatrAo mPol Gumint whllo COnd0{lon li gWI to way4 In vthkth addllloml fvnd• m•y b• Th• b•kntx •h••t rArt anW• of lh• a8••ts trItKrtablo to the ¥•l(xx Th•M ir• ¥ulNd•nt tg m•ot th• c18 t)bllg•kn• on • tM•l Durfng th• r •nd•d 31 1)K•mb•r 2023 th• trA•l n•1 In(X%M and fiow In DIDACT Found•thJn w 48.749 (2iY22 476,209). Imwovomwrt on th• IMmlIt• pa•t p•rknd r••ull8. Total fund• u of 31 Dec•mbor 2023 •rrK4urrt•d to 4124.908 (2022 478.209). t*lth ar• 41 r••trlcW fvTrJ• h bwi fuw uwl durln9 tho pwlod. Tho caum for th• d•llrai¥ ger•I•d In th• crror and fv perlod i• to th• Infdol •tartP trj get tho eomyry fvncllcmal. Th1• 11 lrnFYove In fithr• p0d1 as addMiLThI Iorne 11 bo generatad to ftmd th• op•r•llon costs cl the coMny.
DIDACT FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Plan• forfulurn p•rtpd• Savwal Irr wopolals at • lth olage of develokynwrt w• l)•lry dId p•thr ph•miac•uU(l companla•. arn opUml•lk thAI th• MjaIlan• r•At In tho ImpknlIon of ItT• durfw 2024 and 2025. Amnd wrt of th• DFAC•d ts•knlnA Irt l• biYWI 30th 1•(2024. pl•nn•d. DIDACT Founddon ¢ontknu• to •upwi tho acadomk Ind rnnlrva •rnl op•r•Uon•l path•r• to •nwM th• •UthIr1Ity of blood drknl rn••ffch kn th• UIQ DIDACT Fourrtlatlon tAII ntInu• to Nn lh• IrdU•lfv•• Ih a• ad¥knory bo•rt h•w4 •lT••ty g•nwat•d Inc(• AJ th• I8 thxlng 2023 pkn•d ilYth• y••r• w• •lm•d at l)•n•fftlng p•W• blood . D•¥•loplnll Imthm•ntlry of th• mo•t dny ¢1•r 1h•rapt•• (•.q. worklng th• acadomk and nurikv mMlI1••, 14ood chwNl•• Nnnlng •dvl•ory bo•rd•l. KI TAP VKI IMpKfnthort• (•.9. DF Aeadwry tr•knlw w¢wwnm•l. . G•Mrdng r••1 rtyiity d•t• Ilmt ¥AI h•1) to •MLW• •wIty rf aceM• to tr•jIm acrom Il th• atthlc VKI knUm1C th• UK {•.& th• M>•C•rn rtyllty). 8tru¢tUrn. gov•rn•nc• and MlI•m•nt Th• ¢h•rft•bt• vxnp•ny h • c(xnp•ry Iml•d by 1Qth D•c•thr 2021 VKI r•gl•tsr•d •• • ¢h•rlty on 16th May 2¢y23, DF ¢h•rtty hm • CEO to th• truM. A •trc p•blp0 thr10r, rn•1 l••dwthlp t•am•, Ex•cukn OpornUTrJ T•wn (EOD 8tr•91¢ ij¥•r•lght COMMItt (Soc). the d•t• of ilgMlur• ol tM flmnclil •tat•m•nts MrJGffin Mr G Thoma• Mr P Hlllmen Mr J McNn Mr J M•lUn Prof•••or C F CTaddo(* Mr• H Brnund
DIDACT FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTrIUED) FOR ThE YEAR EP4DED 31 DECEAIBER 2023 ThJ•leM are r•¢rulled on tho ba81• that hMI a •lOnmrt ht•ro8t In womollng Impo¥•mrt8 In Cutt1 And c•r• for pP1• with bl¢xd e4rn. Ncl•bty, ty 1UppAl lh• InW•m•ntatlon of clko1 trlalB and i•r dlnk•l rn•urth, by d•lrv4 nIng prmM•1 for hMlth(rv PToh•81gn•lB Bp•(laliTj Inilood cancern •nd In¥(¥TY4 pad•nt• and palent advocth In th• d•wlcym•nt of thow o¢IMUM. Th• rr•fit Iwd ol tru•t•M Indudo1 a fomior r•pran1¥ of Yood th•rfU••, 8¢•d•mk h••m•tologl•ts. o i•ln•Mman h•• rnlmd mon•y for • bhxd c•nw¢h•rfty8ffld • al NHSBT. Th• tru•¢w• hw• 01•o•••d th• m•Jor trlth th• l• •xpo••d •rn •ll•fd •y•i•m• •r• •¢• to mWg•t• •xpo•ur• to th• r1& Non• of lh• ThJ•t•M hA• •ry b•¢1•1 Int•rn•l In lh• compmy. Al d th• m•MrI of th• •nd 9u•r•nt•• to ¢¢yffibuh £1 In tho vnnt of a ¥Andng IP. Audllor Sum•r AUdIt Umhd TAW• wolrrtod M wknr > th• cunpvry VKI a PropIng th•t fvy b• r Ippolnt*J ¥AII b• pul at a G•n Mwthig. Qolng conc•rn •nd •ulW •v•nl• Th• tru•teeJ h0 conild•r•d d•llol and c4yfilrw to Ch¥ty kn Id•nlfylng nw fvndlr oPpn1M. b•kw Ir•trummt•l kn wwvJlr#J fixKlrw athlll•i •Thl mlUg•tky Th• TN•t••• •[• confid•nt th• Charfty can cont• a• a c4yK•n tr • p•thl of •t l•Mt I• month• from th• d•t• of •pWO¥ ofth•w fln•rYJ•i •l•t•m•nt Dl•¢lo•ur• of lftfornmtlon to audltorn •udM. bul ol thlch the auditor unv4Ar•. Th•y hAv• fvrth•r cnf•d that th•y hw lak•n approat• •t•p• to 17 May 21Y24
DIDACT FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Th• Thi•t•••. ar• akno th• dlrnir• d DIDACT Fmdth fDrth• pwpo•• ofryjmwry Irw, w• ruponlblo for prnpadng Ih• Trt•••' R•wt and the fNnd•l •tat•m•nts In c¢rdIn Yhth applk•tl• I Unhd Klngdtsm Accounlng Stand•rd• IUnlt•d Ganfnlty Ac£eptsd Accoun11 Pr•clk•). Ir of tho •tato ol affalrn of Ihe ¢h•rflbl• campjry and of Incomlw re•ourc•J ond oppllcayon of . obmrve th• m•thod• In th• ChwMl•• SORP. . •t•t• th•th•r appNc•blo UK AC<CnI1d 8t•nthth l1• •ubJ•rt to m•t•rfd d•p•rtyr•• dI1010d and •xpl•ln•d In th• flmndal •tat•NK•nts,' •nd i*•rllabl• oynp•ny T11 conlnu• kn op•r any Vm• th• fln•ndd Plt10n of th• ch•rltabl• compmy •nd •n•bh th•m to •n•urn th•t th• fln•nd•l •t•t•mont• comply wllh th• Comp•nkn Act 21x0. Th•y w• d•0 r••pondbl• for I•l•IdIN1 th• ••••t• of th• ch•rltsbl• comp•ny •nd h•rK• fortthy r•••on•bl• •top• for •nd d•t•¢lkn offtaiKI and tXh•r Irr•glI1#. Each ofth• TNits•• ha• eonfimi•d th•t bkn IA M thy w• rnlmnt to audrt, bul 011¢h th• •LKlttor l• l• wMr•. Ttw hw• i)Jrlh•r confimi•d that tsy have tak •pwoprl•t• •t•p• lo Id•nlfy iuth r•l•v•nt Inforffth and to •aL•h thth• wdAor l• of•uth IrthymalryK
DIDACT FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DIDACT FOUNDATION Oplnlon h•v• •udA•d th• lknana41 of OIDACT FOon 'chArtt•t4• c4)Mw) for th• ygar ded 31 Dewnbor 2023 COMprf lh• tht•m•nt of flnwMI acthlllm, lh• Jtatrt of h fluw• and notm trj tho flnan¢ld •tatoment8, KILKllry •1gnm¢4rrt a(rrth polka••. Tl fdnthl r•porflrvJ ftamvmvk tIMt h•• b••n •ppll•d kn Ih•lr pr•pwthb kn •PFllc•bki tw Unlt•d Kkwdom AccLuttlrvJ St•ndllrd8. InclLKIy Flmndal R8wUng Standard 102 7h R•porttrq Standard •pplbI9 kn the UK and Republk of lrnland {Unlknd KW¢xn Gw•r•ltyAcc4pknd Prnc•). OplOft, tho Ilmncld gl¥0 a tru• and flr ¥lyAf af th• of lh• th•rtt•bl• •t 31 D•c•mb•r 2023 and of n• Ineomlno r•cH and will¢•kn af r••ow¢M. for th• y••r wd. .•nd B••l• lor oplnlon condu+#•d our wdlt kn •cavd•nc• Ilam 81•ndath Audllng (UK) I• (UK)) and apple•tl• l•w, Our r••por•lbIll WKIW thom rt•nd•th rn fwlhor d•bId In th• Authf8 r•wi8lbNnl88 forth& audK of the IlnanclAI thl•m•rts ol w r•part or• Ind•p•ndont Df th• ch•rft•bl• conwy In wlth th• •thk•i r•qulr•m•nts th•t wo r•l•vant to our audll of tho Iln•rKa•l •latem•nts In th• UKkndudlng Ihe FRC'• Ethle41 Sthnd•rd, •nd th• woYl4kn• Av•ll•bl• for WMII •ntlll••, In th• dM•1•n¢# ••t h rwA• 18 to th• fiMnd•l •¢at•m•nts. •nd w• h•¥• fiJnN•d our olh•r •thi¢d •plIblU• In adara Iho•• r•qulrnmont•. l)•llov• th•t th• I111 wld•nc• w• obiwd l• •uind•nt •r41 •pwowl•t• to fftld•• bull for Ir oplnlon. concl10r rnlallni tr• qolng In In9 th• fin• •t•i•m•nts. that th• TnMl•••' of • golng cono•m l>Ml• of condMon• 1ThllvldIty or coll•d¥. ¢a•t doth>t th• thvltst40 abllNy to conVnu• •• • golry c4Jncfffi for a pwlod ol •t l•••t m(th• ftom th•n th• ilnarKld •lthm•nts • •utrKrf••d for Our royn•lbllnl•• Ind th• r••MLI1l•l th• ThMt•M 41h r•yd to CiiKwn af• db•d In th• r•knnt ••cUon• ol th1• r• Oth•r Infomiatlon •r our audlt<i r•wt lJw•on. Th• arn rMpondtl• for th• oth•r Inknn•Uonwntalnod 1n th• Annual r•port. Our OpInk on th• IlnarKW •tat•monts dom ¢o¥wth• athw InfOrnn indvff8 do not •xFr••• any fomi of u•uranc• concl10n th•r•on. thjr r••pM•lbHliy l• to r•ad th• ¢]thw InfoffnAUon •rKI. In dolng •0. Condr w01 Ih +)th•r Inlom)don h m•tarldty Inconlkntant vlth flnandll •t•tem•nt knol•dg• obtalned In lh• rn• of IM or ¢Jth•r¥AM •ppo•r• to b• m•t•rWty MI•#ad. M mat•rf•l Inconn or aprOnt Mat•&1 mlMtt•rMnt•. arn rewk•d to d•tsmiln• th•th•r th1• gl¥u rtwto a matwlal mlMtatem•nt In th• fln•rKld tlrrt• th•mth. 11, b•wl tx th• V•wk w? h•v• wlNm•J, w conckth th th•r• h • matorfol MItatement ofthl• oth•r Infrymatlon, ar• r•qu*•d to r•wt ih•i f•el. hA¥• nthlng ta r•port kn
DIDACT FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DIDACT FOUNDATION Matt•rn on whkh w• arn rnqyk•d to rnport ty •K¢•pUon In th• Ilght of kn(Ml•dge WKI und•[s1r¥J of th• thafftAbl• company •milrmmmt obtalnod In th• tru•te••' r•porL PAV• nothlng to r•port In Itt• rdalk to thlch th• Ch•rldM (Accounts VKI RortI) R•gulal¢)n• 2LI)8 r•qulr• us to rayt to you W. oplnknn: rel, or tho fflnonclol •t•1nts arn not kn •Ar•om•nt ltPI redI. or hav• not r•c•l¥•d Ill tho Infm•tknn Imd w4•n•kni rwulr• for w •JdlL RMpon•lbllltlM of Tru•t A• •xWalnod mor• fvly In th• •lAt•mwrt TmI#l, I••p, th•ThMtW•, w• •l•o th• (Ir•thr• of th• ch•rftAbh ComnY for the purpwi ol company Iw, •rn rMpM•lbkn for th• w•pvJ•kn of th• flnandd •lthm•n •nd for b•lng utl•fl•d that Ih•y 91 • and falr and for Int•mil c4rtrol a• Iho TN•tM• det¢miln• l• n•c••••ry to •n•bi• lh• prnpor•llon of ffln•rthl •t•t•m•th thAI •r• fr•• from rnat•rf ml••tAt•mK¢ wtMth•r du• lo frnud or •rrof. In pr•padng flnarK4d •t•t•m•nt•. th• Tnwtw• •r• r•wK4n•lbl• for •••M•lng th• dwrlt•bl• company'• alllny to ¢nu• u • golng ¢onc•m. dIK11nu, u •pplkAbl•, matt•rn Mlat•d to golw conc•m and Un9 th• golng corK•m bul• rf •¢countrffj unlry•• tr1• TN•t•M •Mh•r to Ilquklts th• •rll•bl• compwy or to op¢r•kn¥. or hw• no rMll•U¢ dtwn•lh• Ixrt to dD . Auditoffl r••ponilblllil•• for th• •udft olth• fln•ncl•l •tat•m•nts hAVa bwn PNt•d a• audnor und•r ••cllan 144 of th• Ch•rtUM kt 2011 •nd rnport In acaYdanc• wlth th• Act •nd rnlwAnt reqal¢m m•d• or h•¥lng •ff•a tkMnd•r. mit•rfal ml••t•t•m•nt, du• to fr•ud ¢x •rror, •rl ts luu• an audMorf• rnport that Indudo• our Onbn. RM•on•bl• •••ur•rK• l• • hlgh l•¥d of I••urnn trArt l• not a gw•nt•• •n I11 Wuct•d In •ccordanc• ISA• (UK) 7th411 d•t•ct a m•t•rfal ml••tat•mwrt tth•n R •th. Ml••t•t•mnts CAn •d•o Irom fraud or •rror Thl ar• ¢oMld•r•d m•l•rW11, IndMduly w In th• aggr•g•t•, Ihry c(wJd m•on•bty b• •xp•thd to IrfAnc• th• economle doOnI of ¢T t•k•n on bMl• ollhM• fln•nd•l #tatom. Irr•gul•rlil••. hcludlw fr•LvJ. •r• In•tanN• ol non<0mnC• IM and rnpulOrn proc•thJro• In Iln• vAth our m•ponbIlItI•l. (Krflnod •bov•, to dotoct M•t•rt ml••tsknonts h r••poGt of Irr•gul•rfUM, Includlr gnlfkont and unuaL approwlntoty •ppll•d. . A1n9 th• exknl ofc4ynpllan, or l•¢k d, th• relvd•rt l•rt Ind rwA•lb . T••tlng h•y In¢ryn• Ilnm. In rI1¢U1# rArtrf. fty OVId•n of m•n•gwn•nt i•0. . DocuM•nllnq and v•rfIn9 al •lgnifanl p B8cuM oftho IrtrnnI Imitqlkr4 ofw thwe l• a rfd( Ihl Th)t d•t•d all IrToqthIM Indudr lho10•dIn9 to a m•tsrf•l MI••tat• In th• Iln•nclal •tat•ments or rrcOMPlIan wlth regulation. Th18 Incrna8e• th• mor• that compll•nc vhlh a or regul•llon from Ihe vffjnts •nd tranMcUon• r•fia¢tod In tho finand814tatem•nt4. a• wll bv lou IW to be flvarn of IntsnrAB of rrcOmPlI•nCts. Tho iith l• great•r ragardlng Irregul•rfY•8 o¢¢uthr¥J due to rathorthan •Thr*, Invol¥# Int•ntloMI ¢oncealm•rt fwi. collullon, oml8•lon or
DIDACT FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DIDACT FOUNDATION www.frc.or9.jiudrtu8lpMblI1IIOl. Th18 d8•ultsi fomi8 pwt ofour wdltor rwL U8• of our r•port Thh r•port l• mad• Iddy to th• chartV• trUrt. M • t#)ty. kn K¢ordIn lth part 4 of th• CharlU•• (A¢(%wnt• Kl R•port•l Rtyul•tton• 2¢J08. Our •4[t h•• b••n und•rt•n w tr•1 w• mlvht 11a to Iho th•Tty• tru•l••8 thom matt•rJ are r•wlrod to •tat• to thom In w audltof• rewt and for no (thor purpom. To the full8•t •xt•nt mrtled I. do rKA •cc•i or a•wmo r••p1blty to ryon• oth•r th•n th• ehttlty and th• th•rtty'• tru•t••• boty, fr Ir I111 for IN• or for th• oplrdorn Mi hm fomo(L Rlch•nl AlaTr Horton F A (8•nlor Itstut A or and on b•h•ll of 8um•rAUd1t Uffllt•d Chart•rnd C•rtlll•d A¢¢wntsnl• 8IAlutory Audttor e••hlv• Rlng Road London OAtrA¢kr1 Urdt•d KIWd¢m RH8 OPA 8um•r lF1¢4 Llmll•d l• •llgltl• fty •ppoknwrt •• al th*l• c•mp•ry ty for polntmwrt a• •udlh)r of• corywry WKl•r ••cllM 1212 Ctynp•thAL 20LI.
DIDACT FOUNDATION STATEMENT OF FINANCIAL ACTNITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 fvnd• 202? nd• fund• 2022 Incom• fronL' Don•doM and l•o•d•• Ch•dtsbl• actl¥ld 45.618 45,848 1,771,884 1,n1.6a4 Total In¢om• 1,771.718 46.618 1,817.332 1,a20,486 40.016 1.086.081 70,209 N•1 •xp•ndlturn •nd fflw•m•fit In fund• (48.749) (48.749) (78.201) R•conclll•thin ol fund•: Fund bol•ncaJ at 1 Jlnw 2023 (18209) (n,209) Pund b41•n¢•• at 31 DK•mb•r 2923 (124.9W (124.958) C16.209) Al In¢om• ind •xP•n1• dwhfMI eorthth Th• •talerrt olllnwKld •¢Ovlil•• gdrr• and hx••• r•(¥JyiW kn th• >•r. Th• •tthm•nt of Iln•ndd KIMll•• comF4•1 th• Mqthm•th for IneoN and •xpwItU[e aCCNt undor th• Companl••Ad 21106.
DIDACT FOUNDATION BALANCE SHEET ASAT31 DECEMBER 2023 CuTrnt a•••ts 203.279 2,465 4.782 Calh at and In hrKI 230.323 7,237 Cr•dltorn: amounts f•llnq du•wlthln on• y•Ar 360281 83,448 Not Gurnnt Il•blltl•B (124,968) (78,209) Th• fund• of th• chrltsbl• company UnM•Md•d fiJnd• {124.958) (76.209) (124,968) (76,2091 Th• company h •nllll•d to th• •x•mpdon fmm th• audt f•wtrThnt conl&lnf•S In Mellon 477 of th• coMpanA 2008, for th• y••r •nd•d 31 D•e•nbw 2023. thiwJh •n •udlt hm hon c4rrled out und•r •ocUon 144 af th• Ch•rltl••Aet 2011. Tho m•mb•rn hav• not r•quhd th• ¢omp•ry to oith KIII ol h )Irnnd 4tal•m•nts und•r th• r•quk•m•nts of th• Comp•nkn Aet 2006. ftth• In In I•#1 478. to th• •mall mparI•l rnqlm•. Th• iln•ncW thm•nt¥ 1 apwo%•d ty th• ThMtse• ffj 17 M•y 2024 Company rnd•tratkn 13793500 (Ery V*•) 10-
DIDACT FOUNDATION STATEMENT OF CASH FLOWS FOR TrIE YEAR ENDED 31 DECEMBER 2023 Ca•h wwr4t•d from op•r•lkn• 14 4,782 N•t ctsh u••d In Inv••tlno A¢IMII•• N•t ¢A•h umd In Ilmndni Kllvld N•t InvM•• In ca•h and ca•h •quPnl•nt• 27,282 4,782 Ca•h Ind c••h •qu•1•4 at b•gknrthg aly• 4,782 C••h And ca•h •qufv•l•nl• •t •nd of y••r 4,782 11
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 DIDACT Found•kn l• • pfv•ts by •nd Ktsb••. Th• r•glthrod offlc• h48 L•M. Lumlon. Ewd. 1JF. 1.1 A¢¢ounthig Mnv•ntknn The flnarKt•l 8t•t•m•nt• hm b••n proparrtl In •fyrdan lh• (arflth comwtyth )vernIng dm•nI]. Componlm Art 2006. FR8 102 Tr Flnandal R•porllry Sland•rd appllc•bl• In th• UK •nd R•publlc of lrnllntt fFRS 102? and th• Ch•rlUu SORP 'Accounthg and R•wUrvJ by Ch•rltl•8: 8tat•m•nt of R•c4mm•nd•d PrncUc• appl• to dlll•• pr•pirtrw th• acc$ In •cdInC• 4th tho FIMnd•l Rythg StondfA appllc•bl• In UK and R•wblk of Ir•lAnd (FRS 1¢r2)' {aff•cl¥• 1 Januw 2019). Th• C11• e¢mpwty h • P¢ 8•nrfrt Ertty M drfrfd ty FRS 102. Th• fln•nd•l tat•m• h•v• b• w•pw•d IwMl•r th• Il•tNlcd co•t ClXN•nlk•n. ImodM•d to Ind th• r•vAluAtlon offr••hold to INAud• knv••lm•nt prop•rtl•• and Cfrftsln Irthm•rt• at f•lr v•lu•l. Th• nCIPAl •ewJnllry polldm adcw v• •ot beh? 1.2 fjolng GOnrn ch•rltabl• eomp•ny h41 •d•quth r••oLy• to gyillnu• In op•rthn•l •xlw for tho foro••Mbl• firtur•. Tlw• th• Thi•M cthiUnu• k •dopt th• golw ¢1)nL Ix•l• ol •(wJnllTrJ In FY•p•rfrfj th• hMn¢l•l •tstsm•nt•. 1J Ch•rftabl• fund• 1A Incom• Incom• l• r•GognlMd tth•n th• ¢harfl•blo cOmry h1•g11ty •d to It •ft•r •ny p•rfomanc• MTraAlon• b••n mrt th• amounts ¢•n b• m•o•ur•d rw, •r#l * l• th•t Irwn• 11 ts• [%d. 1.1 Exp•ndlturn Exp•ndRur• l• rnwil••d orm ttw• l• • legd or oblg•Von to trart•l•r •wwnlc bor lo a thlnl pty, It l• wob4t>l• lh o tr•n•fw of b•nollts b• r•qufr•d In ••ttlom•nt. and th• armunt of ExpondIre l• dlfl• by aty. Thé co•th v• m•d• up of th• tot•1 of dlr•ct and •hor•d coot•, I11ra •wpDrt co•ts In¥oPd In wKlertAWnB acU¥ty. fMr•c4 colts thbJl•bkn to a •lrwl• ar• dlocated dliw to that acU¥ty. Sh•r•d o)•t• vthkh Mntrllxrto to morn than ono •thilty 8rKI •upport ¢o•ts •r• not •ttrlbutth• to • n41• •thlty w• on•d b•hThin on a bMI• con•l•t•nt u•• ol r•wUr(. C•ntral •taff ¢o•t• ar• allo¢•t•d on tho bA•li of Um• w( ind r8pru•nts all co•ts af th• •xdudr4 th040 gppoinbj to eo•ts. Vknre colts cannot dlr•¢ty attrfl¥Jted ts headlrql tty ha¥• ts• thatad to aGtt¥lllo• • bul• con•lJt•rt llh 12-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMEKrn (coirriNUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 A¢¢oundng pollcl•• {Contlnu•d) 1.1 Ca•h and c••h •941•1• C••h and ca•h wulv•l•nts IrKaMJ• ca•h kn b. d•po•AI hdd It bonk•, other •lKK14wm Ikuld lthkn l>orrvln9• In curront W•bllltt••. 1.7 Fln•n¢l•l In•trum•nl• Th• ch•rhbl• compkny •lthd to tho 11 'B••lG NMnd•l IMtNm•rt•' and S•¢tlon 12 '0th•r NnwKlal In•trum•rrt• l••u••' ol FRS 102 to of Its flmndd In•lnwn•nt FIMncl•l IrAtrum•rrt• w• rnwl••d kn th• etsltsbl• b•lw• •hoot th• dwrltaM• CoMnY Fln•nd•l •M•t• and M•t41111•• •M offrf 41h th• nrt amoLmts pr•wtsd In th0 11MnrJAI •tat•m•nl, ther• IA • logalty 8nfNc•th rflrtto •• off th• r•e4Jgnlwl •mowrt• thw• IraOn to on a n•t b•8 or to the •Mot and #lu• th• Il•lAIty mU•no(. B•slc Iln•ncl•l a••th Ind1• d•lkn Ind •h b• b•l•nc••, arn IralY mM•urnd at ft•¢)n IndIng trnn••dlDn •nd w• •ubwu•rty c•ffl•d at •mortl••d co•t ulng th• •ff•cti irt•r•ot m•thod unlo•• th• •rr•nw•tt • fln•ndno hn•ocUon, th• hn••eUon li ffl•Mur•d •1 th• w•Mnt Yu• of th• ful r4pts dlKfAmt•J at • mwk•t rth rf Int•r••L FInan1 ••••l• B• ffnancS•l IlabllStlM. Inchjdlng cr•dKor• bank k)an• w• Irthlly i•cognl••d at tran••dlon Pflc urlM• th• •rrang•m•nt • fffl•ndng tr¥k. ¥th•r• th• d•bt In•trumort l• mM•urnd It th• WenI Tr•d• credllorn •rn otAlg•OoM to PAY for gooth or ••r¥lcM tMI hav• bn •cqulr•d In th• orllnAry eour•• of op•rall¢Jn• from •uppli•r•. Amwts p•y•bl• v• +11 •• rr•t llabllth ff p•ymeni L• du• TIn on• y••r or I. If not, tr•y w• prnwtsd Il•bllV••. Trnd• cr•Jllorn •r• r•co9nl•ed at Flnand•l Il•bllltle• r• d•r•coorl••d ln fv rvN•bl• Mparf• eartyar ONWOM •xplro or r• olthrtpd or nc•jI Id. 1J Employ•• b•n•lN• Th• ¢o•t of any unu•ed holdry rrtl•ment kn th• p•rlDd In •mploy••'• •8f¥lw arn T•rmln•kn rfftl •rn rncognl¥•d Imm•dlo •Y4)w• th• thnrK•blo company l• d•mon•tr•W cL¥nmltt•d tp t•nnln*kn th• •rnpWrt of•m wnFloy•• orto t•mlnalon bDn•rts. 13-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMEPffi8 (CONTINUED) FOR THE YEAR EPIDED 31 DECEAIBER 2023 lficon* from don•llon• •nd l•yGI Totsl fund• fund• fund• 2022 fund• 2022 Dor aThl 91 46.818 46.618 45.818 In¢om• Irom ¢harttabl• athlll•• nd• 2023 lund• Fundr•l•thg a¢ll¥KI•• 1.771,1584 -14-
DIDACT FOUNDATION NOTE8 TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Chrltrbl• acdvttl•• 2023 Charfl•bl• 2022 43.284 34,894 1,864.286 7,205 4.1r20 38.711 20,534 Con•ulianc R•thct•d AML 001 Subcontr•ct M•t• V•nu• Nr• Leool fe•• Con•ullaney- UnT•r Comput•r co•ts SubKrlptson• 14.599 J,980 895 7.499 45,000 287 899 523 8.382 Prfnung & •talknwy In•ur•ne• Commrtt•e rn••lng• B•nk th•rg Ent•rt•lnm•nt Fthn •xth•ry• 31,240 1,805,121 72,821 JhAr• ol •upport and M•1• {••• nat• S) 10,900 3,388 1,888.081 76,209 An•ty•h by fund UnrothGj fun R••trlct•d furxl• 1,820.486 40,616 78.209 1.886.081 70,209 -15-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Charhbl• Tot•1 2013 Gowman 10,960 3.388 O¢yd•rn•nc• ¢o•i• cafflprfw. Audtt f• 4,600 8,460 10,980 3,388 GtrMn•nc• eo•ts tncludol th• th deA,S00 (202¥ £0) br •Jdlt f• empknyM• 1023 Numb•r 2022 Numb•r empiiwrt c(ts 2023 43,284 20,534 7 T110 Amoun1• f•lllry du• wmhln on• y•ar. 191,25 12,tr20 1.1LKI 1,355 203.279 2,455 -18-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR ThE YEAR ENDED 31 DECEAIBER 2023 Cmdltsrn: amounts Mlng du•*lthlTh on• y•v 10 38,884 149,980 87,423 80.705 35,892 48,108 380.281 3,448 10 l>•f•rrnd Incom 2023 2022 2022 Def•rr•d Inc¢Jm• kn Indud•d Gurr•rt IlthUU•• 30,884 Movem•rts In th• y•ar. D•l•rnd IrOrn• at 1 J•TMWy 2023 R••ourc•• d•ferr•d In th• y••r D•f•rr•d InN at 31 DécYffib•r 2ill3 11 R••Irt¢ fvnd• bl•¢t to Mndlllan• by donorn a• to thoy m•y b• ulod. At 1 JMu•ry IKomlnq R••ourc•• At31 2023 LtyJka•mla UK (fralnlng •bvrt•) Jazz Phamw (AML reglty) 31.025 14.591 (31,025) (14.691) 45.818 {45,818) 17-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAI8ER 2023 12 UnrMtrIGt•d fund• Tho unr•AtrktsJ fvndl oflho th8 uMxp•ndod of(h)n•Von• and gr•nts TAthIth or• not •ubJ•¢l to •p•dfic corKllllon• ty dom arKI gr•ntarn u to may b6 umd. Thow Includ At 1 J•nuary Incomlng R*ourc•• Atjl r••ourt•• •xp•nd•d D•c•mb•r 20 G•n•rnl fir 1,771.718 {1,820.485) 1124,9581 Pv•vl¢)u• y•ar. At l incomlNJ R••oure•• At31 2012 r••oU• •xp•Trd•d lJ•¢•mb•r (3•nw•l knd• (78,209) <n,209) 13 R•lthd p•rty tr•nw¢tlon• Exp•nd1y• on ¢h•rftAb 2022 Kty Man•g•Th prnnn 1,899,818 43.284 25,892 10,020 1.743,100 38.912 p•rU•• 2022 control or 8lwtll¢mt Infiuone• 227,423 35,892 18-
DIDACT FOUNDATION NOTES TO THE FINANCIAL STATEMEiif8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Cuh g•n•r•t•d from op•rnlon• 2023 Ooffldtft th• (4a.749) (76,209) Mtrd•m•rt¥ In wryklr¥J c•pltstr. (Inty••••) In d•btorn In•A In uodttorn Inwm In d•tsrrnd Incom• POD.824) 239,951 P,455) 27,282 4,782 11 Anaw of Gh•ng•• In n•t fid• Th• th•rlt•blD comp•rty t•d no dwlng th• . 11 Mofivaudlt ••Thlc•• pvo¥kkd ty audtor th• fln•bxl•l •tatwn•nt 19-