sdc
society of dyers
and colourists
The Societ of D
ers & Colourists
SDC
Annual Re
ort&
Financial Statements
For the Year ended 31st December 2024
Charity Number 212331
Royal Charter Number RC000567

sdc
Society OF dyers
and colourists
The Socie
2024 Annual Re
ers & Colourists
ort & Financial statements
Contents
Foreword by SDC Chief Executive O￿lCer...
Society of Dyers and Colourists Annual Report..............................
Honorary Officers........................................................................ .......................-......
Trustees during 2024.
Co-opted Board Members............................-.........-..............-................................... ....... ..... ... ..
Chief Executive Officer......
Principal Office....
Auditors....
Bankers.....................
Investment Managers...................................-.-...............................................................
Governance..........-...................................................................-...-.........-...........................
Charitable Objectives.
Structure and Governance..
SDC Performance................... ... .......-......... ................................ .. .
The SDC Trading Companles....
.10
Charity Financial Artivitv............................-..........-...-........-.-............
.12
Environmental, Sotial and Governance Report.......................................................-....................15
Reserves Poliry.....
,16
Projert development 2024 .
.17
Review of Activf(ies...................... ......................................
Investment Policy......
SDC Strategy 2025-2027................................-....-...............-.....-..-.............................. - .-........... .
-28
Fundiaising.......-...-......................
.30
Risk Asses5rnent..
.30
Human Resources and Equality, Diversity and Discrimination Policy.....................................-...-.30
Data securitv........-.................-............................................
..30
.31
,17
.27
Health and Safetv..
UK Pension Auto-enrolment..... ..
Remuneration Policv.-......
.31
..31
.31

sdc
society OF dyers
and Colo￿liStS
The socie
2024 Annual Re
ofD
er5 & Colourists
ort & Financial Statements
For•woid by SDC Chief Execiitive Otficer
The year 2024 wa5 a significant one for the Society in that it heralded the 140 Year
Anniversary of the Society's formation in 1884. The year therefore included additional
significant events with an International Conference held in Manchester in June 2024, the SDC
hosting the D es in Histor
and Archaeolo
DHA43
in Leeds in October 2024 as well as the
2 UK Technical Conference Isee The Colourist report also) in Bradford, also in October 2024.
The Society was also closely involved with the Biocolours 2024 Conlerence held in Finland
which Dr Antony Morton from the SDC Staff attended. This meant the Society's reach and
engagement with individuals, members and non-members, was greatly enhanced. The
International Desi
n Com
etition and Global Colourist Award also en$￿￿d growing
engagement around the globe.
nd
The impacts of the promotion and delivery of these events included a greater awarene55 of
the Society resulting in an arresting of the decline in Membership number5. Management of
membership subscriptions is now mole dynamic and able to report in real time more than
ever before, ensuring issues with renewals are addressed much sooner, thus retaining
members. In 2025 onwards a key SDC strategic aim is to grow the membership communitv,
for which we also require the enthusiasm of all current members.
Society finances were under substantial demand in 2024, not only for anniversary year events,
but also to ensure the upkeep of Perkin House following several years of challenges in being
able to engage Maintenance componies. The year also saw large price increases in many
areas, a situation intensified by the need to undertake one off repairs due to weather damage
to the Perkin House flat and pitched roofs, roof mounted air handling system 3nd the
replacement of aged and rotting wooden doors and frames. Thankfully many of these costs
are a one off cost and leave Perkin House in a better condition for the future.
The year a150 saw the agreement by the Society's Board on the SDC Strategy for the next 4
years
See the SDC Slraregy 2025-2027 section in this AnnLtal Report on this, as It is so
important for the future. Work on the Societ(s Royal Charter, By-laws and Rules was
regrettably not as progressive as had been hoped during 2024, primarily due to the now small
number of core SDC staff being fully occupied in the 140, Anniversary year. This work is to
be progressed in 2025 and has not ceased.
2024 also Saw the start of the SDCTextile Collection- a curation and cataloguing of the many
items held by the Society. These are being made available online and especially in person to
our Educational Provider members. as a component of their membership 5ub5cription. The
Textile Collection is being developed with a long-term view of engagement opportunities both
locally, nationally and internationally as well as creating a new member benefit. The items
discovered have been fascinatlng, from original letters by Sir William Henry Perkin, Greville
Williams and GG Stokes, to a Japanese Stroll in a presentètion box (now translated), Smiths
Practical Dyers Guide, many items from Yorkshire Chemicals Co Ltd and a 1915 edition of the
Atlas of the Munsell Color System. Indeed, it is a living reminder of the heritage of the SDC,
the heritage of colour and a valuable resource for the future users of colour.

sdc
Society OF dyers
and colourists
The Sotie
2024 Annual Re
ol o ers & Colourists
ort & Financial statements
In 2025 we will see more engagement with SDC members and non-member5 and at new
locations. The Society will be attending the ITMA Asia event in Singapore in October 2025,
which will coincide with the International Oe5ign Competition final in Singapore. The AGM in
2025 will take place at the University of Huddersfield. The SDC has also taken the decision to
move the Annual Awards Ceremony and Day of Celebration to a new venue and location, with
the event taking place in Chester, UK in November. We hope these new locations provide new
opportunities for people to attend these events and new formats to add to the occasions. I
look forward to meeting many new, a5 well os familiar, faces.
2025 will a150 see the conclusion of a specific project spear headed by the SDC President Susan
Kay-williams, who has been keen for the SDC to prodL*ce è set of colour activities for school
children to promote the 'Sht7ring of knowledge ond stimulating interest in colour,.
President's Working Party was set up in 2024 and involved over 30 volunteers from several
countries to shape the concept and produce the worksheet5 and instructions. Progress is now
at the stage where the colour educational material is being finalised and costed, such that a
number of boxed kits can be made available to schools, initially in the UK and funded with
sponsorships. This is a key revitalisation of SDC work with school aged children to promote
colour in the much wider sense than simply textiles, although they are included, and one
which it is hoped will enthuse the Colourists of the future,
Dr Graham Clayton, Chief Executive Officer.
NB knnks In the abtrve lexi are to aflicles with more detailed Information. 5orne links may ￿quire a rurrent SDC
Meffjber5hip ￿b5¢r19t1On and lor you tts be IDgged itito the SDC Members areo ofthe 50( website.

sdc
iociety Df dyer5
and colourists
The Socie
2024 Annual Re
ers & Colourists
ort & Financial Statements
Society of Dyers and Colourists Annual Report
The Society's Board 15 comprised of nine elected trustee5 from amongst rts Voting Member
population. SDC Honorary Officer5 and the Chief Executive Officer, together with any co-opted Board
member5, who present their report together with the finaricial statements of the charity for the year
ended 3 1 December 2024. The Board are of the view that the funds and a55ets have been prudently
managed and effectively applied durinE the ye3r, solely in furtherance of the objectives described in
the SDC Governance document5 and reproduced below. Financial perforfflance is continually under
feview against these. The Board a¥e satisfied that the financial policies and plans presently being
applied are relevant, appropriate, and adequate to support and sustain the charitable activities of the
SDC.
Honorary Officers
President
President
Immediate Past President
Immediate Past President
President Elect
Honorary Secretary
Chris Carr lappointed AGM 2023 to AGM 20241
Susan Kay-williams (appointed AGM 2024 to AGM 20251
Ullhas Nimkar Ifrom AGM 2023 to AGM 20241
Chri5 Carr Ifrom AGM 2024 to AGM 20251
Stuart Wilkin50n lappointed AGM 20241
Stuart Wilkinson lappointed AGM 2018 until AGM 2021 and re-
appointed AGM 2021 until AGM 20241
Vien Cheung lappointed AGM 2024 until AGM 20271
Michael Catterall lappointed AGM 2021 to 2024 and re-
appointed AGM 2024 until AGM 2027
Honorary Secretary
Hunorary Trea5tsrer
Trustees during 2024
Ela Dedhia - appointed at the AGM 2022 and retires AGM 2025
Eamon Furey- appointed al the AGM 2022 3nd retires AGM 2025.
Parik Goswami- appointed at the AGM 2020 and re-appointed AGM 2023 until AGM 2026.
Llnda Hodgson- appointed at the AGM 2023 until AGM 2026.
lan Lewis- appointed AGM 2024 INB lan retired by rotation AGM 2020 and wa5 re-appointed until
AGM 2023 but then stood down for a year before re-election).
Siva Partti- appointed at the AGM 2022 and retires AGM 2025.
Adam Pursell- appointed at the AGM 2023 and retires AGM 2026.
Paul Santohki- appointed at the AGM 2022 and retires AGM 2025*
Gavin Thatcher- appointed at the AGM 2018 and re-appointed AGM 2021 L*ntil AGM 2024
Katherine Wells- appointed at the AGM 2020 and re-appointed AGM 2023 until AGM 2026.
"Denotes the nine irustees on the Socievs Board post AGM 2024
Co-opted Board Members
Paul Harnilton was appointed Vice-President IProjetts1 at the AGM 2022 and wa5 re-appointed at
AGM 2024 for a further year.
Chief Executive Officer
Graham Clayton
Principal Office
Perkin House, Longlands Street, Bradford, BDI 2LU

sdc
gociety OF dyefs
and colourists
The Socie
2024 Annual Re
ers & Colouri5ts
ort & Firbancial Statements
Auditors
Thomas Coombs, 3365 The Pentagon, Century Way, Thorpe Park, Leeds, Yorkshire, L515 SZB
Bankers
National Westminster Bank plc, l Market Street, Bradford, BDI IEG
Investmeni Managers
8rewin Dolphin Securities Limited. 10 Wellinglon Place, Leed5, LSI 4AN
Governance
The SDC is a charitable body, incorporated by Royal Charter IRC0005671 with the governing documents
being the Royal Charter119631 with Amendments. By-laws{2￿9> and Rules12012 as amended 2014.
2015, 2016, 2017, 2018 & 20191. These documents are availablefor public access on Ihe SDC website.
Charitable Objectives
The SDC was established in 1884 to advance the science of colour. The 5DC achieves thi5 aim by global
dissemination of colour knowledge to members, industry and the public, via publTrcations of scientific
papers, lectures arid electronic media. The charitable objective5 are contained wtihln the Ro
Charier of 1963 and are:
al To promote the advancement of technology both in the theory and in the practice of the
creation and use ol colour and colouring matters
bl To provide means for the wider dSsseminatioTh and interchange of knowledge concerning the
science and technology of colour and colouring malter5 including knowledge of the
application to substrates and of the materials to which they may be applied
cl To encourage education and research in a51 and any 5ubject5 concerned wrth the Science of
colour
dl To hold meetings for the reading of papers and glvlng of lertures on coloration and colouring
matters and for discussion of the safne
el To publish scientific literature and a journal forthe promotion and correlation of knowledge
of the Science of colour
n To initiate and stimulate research and education in the interests of coioration in all aspects of
human life
gl To co-operate with other scientific organisations and bodies in relation to colour and its
application and use
hl To acouire by purtha5e, devise, beouest, dc>nation or otherwise lands and heredStaments of
any description and tenure and to accept any 8ift, endowment or bequest and the office of
trustee and to carry out any trusts attached to any such gift, endowment or bequest or
attached to such office
il To do all such lawful thing5 as afe incidental or conducive to the attainment of the above
objects or any of them.
Structure and Governance
The Society's Board is the Governing Body of the Charity with up lo nine trustees elected from among
the Voting Member5 of the Society by the Voting Members IRule 1011. The Chief Executlve Officer,
the HonDrary Treasure¥ and the Honorary Secretary are also entitled to attend meetings of the Board
(By-law 36.21, which may also co-opt a maximum of three members (Rule 104 & B y-law 36.21. Only
trLtstees take part in any vote of the Board. a quorum of which is 50% of the voting mernbers on the
Societws Board lie trustee51, rounded up to the nearest whole number, present elther in person or
electronically in real time (Rule IISI.
The Audit Committee comprises IBy-law 371 the Honorary sec￿tary, the Honorary Treasurer. the
President, the President Elect, the Immediate P8st p￿sideNt and four elected Voting membe￿ of the

sdc
50ciely of dyers
colourists
The Socse
2024 Annual Re
ers & Colourists
ort & Financial Statements
SocFety (Rule 1251. It reports to the Society's 803rd and monitors leEal compliance of all actkvlties
related to the Royal Charter, By-law5, 5DC Rule5, agreed policies and slrategies.
The Nominations Committee IBy-law 38 & Rule 1261 comprises thè Chaii of the Societ<s Boaid, the
Honorary Secretary, the Honorary Treasurer and Voting Member5 representing UK membeTS,
membÈrs from outside the UK, the Committees and the Regions. The Nominations Committee also
ensures ihe procedure for the appointment of Trustees, Honorary Officers and members of the Audit
nd Nominations Committees is rigorous and transparent (Rule 1261.
The finances of the SDC are ihe responsibility of the Society'5 Board (Rule 471 and the Board appoints
Finarice Commitiee, chaired by the Honorary Treasurer, to manage the Society'5 finances (Rule 481.
The composltion of the Finance Committee and its appointment 15 made annually by the SocietV5
Board (Rule 491 at their first fyll meeting after the AGM.
The SDC'5 Other committees report to the Society's Board and the Chief Executive Officer and develop,
dlrect monitor the charbtv's artivities in actordance with its, Charitable Objeitives and Strategic
Plan. The SDC'S day-to-day operational activrty is managed by ihe chief Executive Officer with a
complemènt of appropriately skilled staff and external service providers under the CEO'S
management.
The Society's Board are advised of theiT responsibilities under charrty and company law, the
requirements of the Royal Charter, By-laws and SDC Rules. Formal training of the Board members.
Audit ComrHttteE, Nominations Committee and those standing for election Is made available at least
annually, wfch attendance recorded. This training is delivered by expert5 Ill their field who also have
wide experience in the charity sector. In 2020 the move was made to make this available via the SDC
main website and three new Governance training 5e5510n5 were held in 2023, with the recordings
available for members of the Board, Audil and Finance Committees online.
Goveman¢e Review
A Governance Task Group Working Party of the SOC Audit Committee has spent some considerable
time examining the SDC Royal Charter, By-law5 and Rule5. The Working Party was formed by the SDC
Audlt Committee in December 2020 and concluded its work, reporting to a meeling of the SDC Audit
Committee, in February 2024.
Three fully revised Goveining documents have been drafted by the Society's legal advisors. These
documents are still beirig cross checked and proofread and will then be presented lo the Society's
Board and, if actepted, communicated at many opportunlties to SDC Members before being taken to
a specific General Meeting of SDC Voting Members for final approval following which the Royal
Charter and By-laws will be submitted to the Privy Council for their approval. The process is
regrettably taking longer than anticipated due to available staff time to undertake the administrative
work particularly in the SDC'5 140 Anniversary year. It is however still in proce55 and work will be an
area of focus in 2025.
SDC Committees
The following commSttees comprise the SDC Governance bodies..
The Society's BDard - Chair Gavin Thatcher until AGM 2024 and thereafter Chair lan Lewls. In
2024 the Society's 8oard met on 7 occasion518 in 20231.

sdc
society of dyers
and colouri5t5
The 50¢ie
2024 Annual Re
ofD
ers & Colourists
ort & Financial Statements
Audit Committee- Charr Stuart Wilkinson until AGM 2024 then Chair Vien Cheung. In 2024
the Audit Committee met on 5 occasian513 in 20231 plus a joint meetlng wtth the Finance
Committee to review the Annual Accounts.
Finance Commsttee
Chair Michael Calterall. In 2024 the Finance Commlttee met on 3
occasions12 in 20231 plus a joint meeting with the Audii Committee to review the Annual
Accounts.
Nominations Committee - Chair Stuart Wilkin50n, In 2024 the Nominations Commlttee met
on l occ3sion11 in 20231.
Medals CommÉttee - Chair Vien Cheung. In 2024 the Medals committÈe met on 3 occasions
13 in 20231
Elaminations, Qualifications and Accreditation Board Chair Stephen Westland. In 2024
E(IAB met on 3 occasions13 in 20231 plus an examination board meeting.
Publications Committee- Chair John Easton to end March 2024. A new Chair is being 50ught
and a number of expressions of interest have been recelved that are being considered by the
Publications Committee in 2025. In 2024 the Publications Comrnitlee met on 2 occasions12 in
20231.
Publications Award Comrnittee- Chaired at their single 2024 meeting leach year there is just
one meeting of the PulJlication5 Awards Commrtteel by Oavid Lewis. Thi5 committee reviews
all papers published in the year by Colorr3tion Technology resulting in a single meeting with a
huge amoupt of preparation in reading every paper PL*blished that year.
Colour IndeK Pigmenl and Solvent Dyes Technical Board. Chair Adrian Abel. In 2024 the
CIPSDTB met 3 occasions13 in 20231.
It is very much appreciated, and here recOg￿lSed, that these committees operate due to the
substantial input of volunteer5. The number of committee meetings bbove concea15 the duration ot
the volunteer input. with P￿paration as well a5 the meetings themsefves,
AII 5DC Committees meet within Microsoft Teams. This means there is a single committee meetlng
place and depository of Agendas, meeting papers and Minutes for each meeting and futLtre reference.
There are several meastjres that could be used to report volunteer input to the Society, but which all
generalise the volunteer input to 50rne extent. The number of volunteer5 on committees alone
conceals ihe fact that more than a few volunleers are on several different committee5. The SDC
website lists all SDC Staff and all SDC Committee member5191 ID total in 2024 as in 2023135 one Team
(with the ability to filter by committee) which is appropriate, as it 15 the whole leèm of staff and
voILsn1ee￿ who deliver the Stsclety's activity and Impact,
This narrative on volunteer Input has also thus far erroneously focused on the main SDC Governan
Committees and coverage here would not be complete without a150 irycluding the regional voluntee15
who manage thelr Region and arrange and deliver reglonal events. Such volunteer5 are typicallv
exceedingly rich in experience whilst also extremely welcoming of new and early career volunteer5,
The committees of regions are now also listed on the SDC website under 'About Us, and 'The Team,
as they do form part ofthe whole SDCTeam.
A conservatNe estim3te of the combined hours of volunteer input of the above just in artual meetlngs
is over 1,500 hours per annum, or around 40 person weeks of work. This estimate does not include
prèparation time which will vary by volunteer role, but it 15 quite probable that the volunteer Input
time could be two or three times the conservative estimate.

sdc
Soiieiy ol dytrs
and colourists
The Sorie
2024 Annual Re
ofD
ers & Colourists
ort & Financial Statements
Regional AGMS
The Society's Rvle 55 states that.. "Regions, or student Section, where it hos no parent Region, 5holl
submlt a 5tutement of uccounts ro the Chief Executive Offlcer ot leost one week before the Society 5
Annuol General Meeting. These will be presented to the Society'5 boord ot thefir5t meetin9 ofter the
Annuol Generol Meeting." This had not been adhered to for many years, but the Governance of the
society is ensuring success in Eetting ihi5 schedule reinstated. Region5 have held their own AGMS and
provided a Statement of Accounts but at different times across the year. In 2024 the UK region5 will
311 have held their AGM5 ahead of the main SDC AGM, as will have many international regions.
SDC Performance
Mission
Educating the world in the science of colour.
Objectives
The objectives of the SDC for 2024 were to-
11 To Educute in the field of colour and the science of coloration
21 To ColloborDte wlth SDC members and the wider colouf communlty, whllst developing the SDC
Communities for the SDC futtsre world.
31 To Include all staff, members, collaborators and interested parties as appropriate in the SDC
Colour Educotion and the 50C Communitie5
41 To Incre(7se the reach of the SDC to tleliver its, services to a wide Colourand Educotion Community
globally
51 To Build and del¢ver a sustainable bu5ine5s model that ensures the fvttsre availabi1Sly of SOC
resources.
The Objectives of the Society are reviewed annually. Informed by ongoing Governance Training, the
Society Objectives for the year are kept in agreement with the Royal Charter Objectives.
In 2024 the Society'5 Board also concluded and approved a new 5DC Strategy for the coming years-
see a 5ep3rate sectioft below specifically on the SDC Strategy.
Public benefit
The SDC public benefit arlses from a wide range of events and attivities provided forthe public to gain
greater knowledge through education in ihe science of colour-
The SDC webslte and associated Digital Archive (now with 4.900 item51 grew across 2024.
Some content is only avallable lo currenl members, with some content available to all.
BLtrsaries and grants have been awarded and the Glob31 Colourist Award introduced in 2023
was continued into 2024 and beyond,
Lecture5, seminars / webinars and conference presentations on colour. The SDC now has a
list of all webinar reeordin
s available online which number 52138 in 20231. These are
available free of charge to members and at a nomin31 charge to non-mernber5. In addition,

sdc
society of dyers
and colourists
The Socie
2024 Annual Re
Èrs & Colourists
ort & Financial Statements
in 2024 the SDC held or attended è number of conferences (see Introdurtion at the start of
this Annual Report).
Colour traininE courses- these courses take place internationally delivered by SDC staff and
agreed partners
Colour products such as the STEM
Science Technolo
ineewin
& Mathematics
klt are available, Due to increased export controls this is now only available to UK customers
due to the administration involved in overseas shipment of chemicals.
Provision of the Secretariat to the BSI IBritish Standards Institutionl Technical Committee,
TCI 81, for Colour fastness and coloLrr measurement Of textiles, thus supporting all industries
for colour and textiles.
Supporting the provislon of the Secretariat for the International Standard5 Organisation
Technical Committee, ISO TC 38 scl, for Coloured textiles and Colorants, for global
standardisatlon.
The SDC also has representation on sevefal other international technical committees
relating to colour.
The SDC provides benefit to both the pvblic and to its, members. The Society's Board confirm that
they have referred to the guidance contained in the Charity Commisgion's general guidance on public
benefit when reviewtng the charity's aims and obieclThies and in planning future activitie5. The public
benefit ha5 also been a feattsre of trustee ènd interested party training on governance provided by a
charity governance lawyer.
The SDC Trad￿￿8 Companies
SDC Enterprises Group Ltd
NOTES TO 50CIETYTRU5TEE5 FOR THE SOCIEfY's FINANCIAL STATEMENTS 2024
The consolidated results of SDC Enterprise5 Group rbow incorporate Northern Dyers INDI alongside
5DCE Enterprises Limited ISDCEI and Sam Weller & Sons Limited ISWI. Revenue for the period grew
at both SDCE and SW, combined with the addttion of ND, grovp revenue increased by 16%.
UK trade remained depressed, with the difficuli trading conditions mDtivating some customèrs to
replate domestic sovrcing with an increase in cheap imports. Growth in exports compen5aled for this,
however, 5055 of a domestic base is concerning and ihcrease5 group vulnerability to fluctuations in
Snternational trade.
Significant investment in renovating part of the Spinksmire Mill site allowed additional group
operations to be transferred to the site. This expanded the manufacturing capacity of those
operations, whilst reducing congestion and improving sales logistics al Pickwick Mill. Further, high
value, investments, in renovations and new building, planned from 2025 to 2028, will allow the full
relocation of the entire group. The additional space will provide the group with numerous
opportunities for growth, including-. intercompany processin& vertical integration, and the capacitv
for organic growth. The Directors acknowledge that re-invesling circa 55% of gross profit5. w511 restrict
the growth in gift-aid, however, investinent in assets of long-term value, funded from profit, not
borrowtn& is judged to be prudent for the aroup, and its Shareholder.
The new funding formula. developed in cooperation with the Sociely s Hon. Trea5uref, led to an
increase Gift Aid to the Society of 9%. Valued at £600,00012024 E550,0001 gtft-aid from SDCE
rema*ns the single largest source of income for the Society, representinE 69 % of the Society'5 total
income lexcluding rev8luationsl.
io

**The Society of Dyers & Colourists 2024 Annual Report & Financial Statements** 


The Society’s total equity in SDCE Group has grown substantially during the period, with shareholder funds standing at £8.3 million (2023, £7.7million) versus the Society’s total investment of £445,600. Cash return on this total investment for the period was 135%. 

Since starting to trade, in July 2002, SDCE have delivered in excess of £14.3 million in cash to the Society, plus capital growth of over £ 7. 8 million. 

Using the cash return plus capital growth per year, divided by shareholders funds at the start of the year (the preferred measure of ROI, as stated by the Society), Enterprises ROI for the period was £0.6 million + £0. 6 million divided by £7.7 million = 15.5 %. Using this measure, the average annual return is 163%. 

The Directors are confident that the implementation of the commercial and investment strategies, as agreed with the Society Trustee Board, is delivering sustainable business operations and long-term asset growth for the Society. Utilising retained profit to fund the increased demand for working capital, and to minimise the requirement for borrowing, is enhancing the Society’s shareholding value in a financially efficient and prudent way. 

Mark Yare April 2025 

## **SDC International Ltd** 

The SDC wholly owned company, SDC International Ltd is UK based and has Directors appointed by The Society’s Board who are the post holders of the roles of Honorary Treasurer, CEO and ASEAN Region Manager. Activity in India, Bangladesh, Sri Lanka is through SDC International India pvt Ltd (SDCIIL), a company registered in India (for Indian tax purposes). 

Following multiple setbacks due to Covid and political unrest in Bangladesh, SDC International Ltd through SDCIIL, gained traction on activities in 2024.  In late January a conference was held in Bangalore, India on “Pioneering Sustainabiluty: Next-Generation Strategies and Innovations in the Textile Industry”.  SDCIIL also was an invited guest at a British High Commission event in February 2024, an event which has opened several opportunities.  This included another day of meetings with top authorities in the Indian Government in October 2024. 

In February SDCIIL coordinated and held a meeting of SDC Members from several international brands in Sri Lanka. Bharat Tex, India’s largest textile exhibition, was visited in February 2024 – a move that ultimately lead to SDCIIL being an organiser of the same event in February 2025 which Andrew Filarowski from the SDC also attended as a subsidised guest of the organisers and gave a number of presentations at other institutes whilst in India. 

In March 2024 SDCIIL came to the UK with several Indian company heads and gave presentations at an event held at Perkin House and attended the SDC Manchester International Conference in June. 

In May 2024 SDCIIL held a reception in Dhaka at The Sheraton Hotel to celebrate 140 years of the SDC with a number of SDC members and interested individuals. 

In September 2024 SDCIIL held a series of presentations at BMN College in Mumbai to a large number of students and staff. 

September 2024 also saw SDCIIL set up a Joint Committee on Natural Dyes and Biobased Auxiliaries, which is open to anyone worldwide and has Key Objectives of: Promotion of research and development in natural dyes and biobased auxiliaries; Facilitate knowledge exchange and 

**11** 



sdc
society ot dyefs
and colourist5
The Soci
2024 Annual Re
ers & Colourists
ort & Financial St•tements
collaburation among stakeholders- Development of guidelines and standards for the yse of
sustainable materials and.. to Advocate for polity changes to support the adoption of eco-friendly
practices. It's first meeting was held in person and online in October 2024.
November 2024 saw SDCIIL participate in 'Automation and Robotics in the Textile Apparel Industry bv
the Textile Association of India.
2024 wa5 rounded Dff by SDCIIL £ommÈncing courses on Artificial Intelli8ence in Textiles which were
very well received and are planned to be repeateLI.
InDyeChem 2025 is a 3-day exhibition co-organised by SDCIIL and Worldex India Exhibition &
Pronlolion pvt Lid in Colombo, Sri Lanka in August 2025,
An exhibition entitled C3M Icolorants, Chemicals, Compliance & Machinery) is now scheduled over
three days in September 2025 havinB been postponed seweral times due to unrest in Bangladesh
especially in July & August 2024.
Hence. 2024 Saw 5DC International activity commence In earnest through SOCIIL and with many plans
made for 2025. Financially it is expected that the SDC will See an income Stream commence fro
SDCIIL through SDC Internatlonal in 2025 therefore.
Charity Financial Activity
The 5ocietY'5 Board monitor the finantial octlvities of the charity via the Flnance Committee and SDC
Management Accounts. The Finance Committee and SocietV'5 Board take appropriate action as
necessary,
Investments
The support of 5DC International Ltd in India has been over an extended period and frustrated bv
Covid arid polFtical unresi when events were scheduled for Bangladesh Isee 50C International Spec￿1£
report above). The return on this support has therefore been delayed and slow. In 2025 though there
are three exhibitions taking place (Bharat Tex in Mumbai; C3MFT in Dhaka, BanEladesh- InDyChem in
Colombo, Sri Lankal which will yield returns to the Society. A provision has been plated in the accounts
for a proportion of this debt given the turmoil in world trade, but the Society expects each exhibition
to be successful and profitable with return to the Sotietv.
The investments managed by Brewin Dolphin come under their specific charity teaffj and the SDC
portfolio will typically hève 55% exposed to equities, 26.5% to fixed interest, 14% to alternative
investments and 4.5% to cash. The portfolio, which is managed at Risk Category 5, is likely to have
moderate market volatility. The Charity's inveslment a55ets are invested in line wlth its aims. The
Investment Managers are aware that ihe Trijstees do not wish to adopt an exclusionary polity, but
individual investments may be excluded if perceived to conflict wrth the Charlty's purpose. The
investment objective of the SDC with Brewin Dolphin managed funds ￿MaInS unchanged:
Yhe tru5tee5 view the portfolio over the long-term ond see the portfolio os providing o
'sofety net, ogoinst ony uftforeseen costs. With rhot in mind rhe trustees are concerned with
growlng the invested ossets ohet7d of inflotion so thot rhey retain their rEoI buying power.
12

sdc
50ciely of dver5
and colouii5Ls
The Socie
2024 Annual Re
ers & Colourists
ort & Financial Statements
The trustees would olso like the portfolio to produce an income to QSSi5t in the smoothing
of the charitles onnutsl cush flow..
Net losses on Brewin Dolphin managed investments in 2022 wa5 £139,087 which turned to modest
gains of £41,348 in 2023. In 2024 Such Investments saw marginally higher gains of £44,507.
Quoted investments at market value, plus cash held associated with those investments, overall fell
£62.262 in 2024 Icl a ¥ise of £35.060 in 20231 although this include5 the movement of £l(]O.000 from
investments to the general tund to support Society cashflow Ihence before w¢thdrawals Investments
rose £37,738). The total value of Brewin Dolphin managed invèstments and cash on 31" December
2024 was £913,435. In addition, in 2024 these investments realised dividends of £25,101 INote 61 d
£26.624 in 2023.
The audit requirernent for the annual revaluation of the Perkin House asset, the outcome of which 15
based on market prices, produced no change this past year. In 2022 the total value of Perkin House
was as5es5ed to be £l.000,000, with £360,000 of that in the investment li,e. rented or immediatelv
renlablel part ol the building. By the end of 2023 the total value of Perkin House was Eiven as
£1.039,721, hence 3 4% annual growth in total value of the building asset, whilst the 2024 valuation
was given as £1,000,000.
Perkin House rental income has risen from mid-2015, with rental inc¢Jme to the 5DC rising to £91,471
in 2024 fiom £81,741 in 2023. Hence rental income was up 12% again on 2023. The Investment
portion ol the Perkin House value above is given as £320,866 at 31" December 2024, making rental
income 8 28% Return on Investment.
The largest SDC investment is in SDC Enterprises Group Ltd, the wholly owned subsidlary of the SDC
Charity. The investment value of SDC ETrterpri5e5 Lrd has, for many years, been given in the annual
accounts as £445,600 and this has not changed. SDC Shareholder funds in SDC Enterprises Group Lid
now are at £8,320,707 (Note 18 Net assets of trading subsidiaries). In 2024 the Charity received from
SDC Enterprises Group Ltd Licence Fee of £0 plus Gift Aid 3t £601,680. This equates to 7% of
shareholder funds.
Charity Fin•noal Actiwtv
Over the year 2024 the Charity's net downward movement ol all fund5 was greater than 2023. being
£320.605 lower 2024 vs 2023 Id£106.642 lower 2023 vs 2022 & £207,298 lower in 2022 cf 20211.
There are several sources of such a sizeable downward rnovement. Expenditure on Raising Funds
INote 8 in the Accounts) was up £24.268 on prior year, primarily due to Investment Property lie Perkin
House) costs which overall rose £20,788 in 2024. Essential replacement of wind damaged insulation
of the air handling System located on the roof of the Perkin Suite cost £12,379, although with the
oLItcotne of secure insulation ènstsring more efficient running efficiency of the air handling system.
Storm damage to roof tiles on another part of Perkin House netessitated the erection of 5caffoldlng
to ieplète damaged tiles and ensure Perkin House avoided further wind damage and remained
weatherproof at a c05t of £11,413. The flat roof abovethe Perkin Suite and gL¢tters around the atrium
also developed water leaks and hence necessitated repairs costing £8,030. These one-off costs were
in part within the budget for property maintenance but accumulated to more than forecast in the
2024 budget, whilst ensure the investment property of Perkin House is in good condition lor the
fulure.

sdc
society OF dyers
and colourists
The Socie
2024 Annual Re
fD
ers & Colourists
ort & Financial Statements
Expenditure on charitable activities wa5 31s0 higher in 2024, up by £252,366 cf prior year. Note g
covers the detail of this increase where it can be seen that sizeable rises were experienced in Salary
Costs, Operational costs, Conference costs. irrecoverable VAT, a provisitsn for the recoverability of
Costs in India/Bangladesh, along with some rises in production costs of The Colovrist and dèlivery of
Bookkeeping services, A major proportion of these expenditure increases were due to utilisation of
the Unfunded Projerts Reserve (which fell from £249,583 at the start of 2024 to £127.030 by year
endl. This fund is specifically used by the Projects Evalualion Group in support of specific Societv
projects which in 2024 included the SDC Textile Archive Projert (costs included staff and hardware),
the lune 2024 International Conference in Manchester, the Ottober DHA43 Conference in Leeds as
well a5 the October UK Dyers Conference in Bradford. The increases in operational cost5 include
utilities usage within Perkin HoLSSe. Elettricfjty costs have risen for everyone over recent years, and It
has been calculated that in 2024 whi151 Perkin House electricity consumption had only risen 7.5% over
2 years, the costs of that electricity had risen 122%1 Fortunately, market Prices have now lowered 50
renewal of electricity contract undertaken in February 2025 Should result in a £20,000 reduction in
bills for identical energy usage.
VAT for the Society is a complex issue as recovery is necessary via partial exemption calculations. This
results in the ￿ClaiM not simply of the standard 20% VAT but a proportion of that based on the
amount of 20%, 0% and Èxempt VAT items. These determine the ratio of VA T that Can be reclaimed,
and this 15 calculated quarterly land adjusted annually to ensure a correct annual proportionl. The
Auditors are examining this in detail to ensure the society is optimized as far as VAT recovery is
concerned and it is considered that the increase in 2024 is due to income from SDC Enterprises being
fully in the form of Gift Aid IVAT exempt) as opposed to a Mixture of License Fee120% VATI and Gift
Aid.
The BoDkkeeping costs remained lower than when the service was first outsourced in 2014 but are
Still sizeable and growing, Hence, in 2025 from the start of Quarter 2 the Society now has new
Bookkeepers Ifollowing quotation5 from 3 5uppliersl and new account5 software that is forecast to
vield a reduction in cost5 by £20k over a 12-month period.
Charity incorrie was up £65,512 in 2024 land was up £32,180 in 20231 al £867,401. Notable increases
were £29.280 from SDC Enterprises Ltd (comparison of Gift Aid in 2024 cf combined Gift Aid and
License Fee in 20231, £26,242 more from Conferences in 2024 (due to 3 conferences in the Society's
140, anniversary yearl, plus Perkin House rental income was up a further £9,730 to a high of £91,471
for the year.
Thi5 yeaT the Accounts in Note 4 contain an analy515 of income by activity.. Education (sub-divided into
Training and Qualification51,. Membership (sub-divided into Day of Celebration and Sub5cription5I,'
Publications Isub-divided into Aeèdemic Books, Childrens Books and Coloration Technology).
Membership income was effectively static in 2017 after several years of gradual decline. Partly due io
membership subscription price rises, membership income wjs £41,156 in 2018 and in 2019 £45,042.
In 2020 it rose marginally to £46,039 but in 2021 membership income fell to £39,706, largely due to
ompanies nol renewing mèmberships. In 2021 the Society's Board also made the price for Individual
Non-voting and Individual Voting membership identical to encourage members to 4Jpgrade at no
additional cost. Membership income in 2022 amounted to £39,637 and in 2023 rose only mar8inally
to £40,097, then falling again slightly to £38,578 in 2024. Hence, membership income is essenttallv
static with 2019 & 2020 being slightly higher income ye8r5. As the chart below shows though the
overall trend 15 therefore now one of arresting the decline in membership income, despite the
harmoni5ation of Voting and Non-voting individual membership 5ub5cription rates several years ago.
This financial data should also be considered in conjunction with the membership numbers data below
in th15 Report, which shows the long decline in membership numbers over years las also experienced
14

sdc
society of dyers
nd colouristS
The Socie
2024 Annual Re
ers & Colourists
ort & Financial Statements
by many other Such membership organisationsl has finally been arrested and it is planned to now
move into a period of membersh4P growth, which will initially be gradual and Eain pace.
Membership incomebyyear
É50.WO
Éao.(KlO
E35.C¥JO
£30,CrfJO
E25.000
E20.(KJO
£la.rrt)O
£io.L
£5.OC
IIMIIT
2018
2U19
2020
2Q21
2022
2(Q3
21Y2d
Membership renewals are enabled via the SDC website and members can pay by debit or with credit
card and set payments to auto-renew. Each membership subscrlptlon also has monthly. annual and
every three-year oplion for payment. It has been very promising to see that growing numbers of
members are renewing with auto-renewal enabled,
Books sales Income in 2024 was again largely 5UPPOrted by Malcolm the Weaver l)ook sale income
which was up from £4,340 in 2023 to £7,126. The aged SDC textbook stock is now a very small income
stream to the SDC I£1,882 in 20241, and the new titles are all produced and primarily sold via Wilev
Publishing. By 2023 many SDC books were made available via the SDC website as eBooks reducing
the price for them land reduced further for current SOC Members) and also permitting immediate
acces5 to the eBouk. This has made this aged book stock available at lower prices lincluded in the
textbook income above) to those Interested in accessing their content.
Salary costs of the charity (including social securlty costs and penslonsl rose in 2024 when Chartty
costs amounted to £425,559 (see note 13 of the Accounts). Whilst salarie5 and pension costs rose
through annual pay rises. Charity staff nurnbers also rose in 2024 to a total of 9 35 an additional fixed
term contract member of staff was taken on to backfill a member of staff deployed on the Project
Evaluation Group's Textile Archlve Project. This post is being funded from the Unfunded ProjeLts
Reserve fund.
Envifonmental, Social and Governance Report
Energy Usale and Emissions
In 2024 Perkin House consumed 62,079 kwh of eleLtricity-this included the SDC and all Perkin House
tenants. This was 9% more than in 2023 yet costs were 33% higher. Similarly for ga5, In 2024 Perkin
House consumption was up IO% but costs were up 109%.
Increased consumption is a factor of the weather and Perkin House usage. In 2024 the building had
more tenants and was used by SDC staff MO￿ frequently than in recent years.
15

sdc
society of dyers
and colourists
The Societ of D
ers & Colourists
2024 Annual Re
ort & Financial Statements
Costs obviously rose hugely in 2024 for ga5 and electricity and with new contract in 2025 costs are
expected to hold for gas and reduce by ca £20k over a 12-month period for electricity. However, their
costs remain high compared to historical cost5
in 2018 for example the c05t of gas and electricilv
together was Lsnder £20,000. New contratts are increasinEIy using more renewable energy in their
supply, but given recent expenditure conttarts have been selected simply on price albeit they have
good environrnental impact tredentials.
Waste & Recyclin8
The Perkrn House waste is collected weekly. and cardboard is separated and sent for recyclirtg. Otlier
waste is sent as mixed waste but sorted and graded by the collection servlce providers. The SDC are
mindful of new waste regulations that came into effect at the end of March 2025 although their
application to small organisations is being phased in. This will result In further waste 5Drting and
higher recycling rates in the coming year5.
Resource Consuffiption
The SDC has largely reduced the constsfflption of many of the resources historically used. Integral to
this has been the move to digital provision of many aspects of the 5DCs activities, This has, for
example, hugoly reduced the need for phototopier papei and ink, as well as a huBe reduction in travel
to meetings. Post Covid the level of online meetings continues to be high and Is often the preference
of those with whom v4e are meeting. A consequence of this has been a huEe reduction in travel and
subsistence costs, In 2023 effort5 were made to travel more arTd meet more people face to face, but
travel was at a much lower level than in pre-pandemic years. SDC Committee meeting5 are a150 now
attended online by most participants whereas pre-ttandemic most would attend in per50n.
Travel costs in 2024 were 25% higher than 2023 at £20,718 whilst in 2023 they were 16% higher than
in 2022 at £16,621. However, thi5 15 still historically low with 2019 travel costs being £41.025. Travel
via public transport is used whenever practically possible. Online meetings reduce time, cost and
pollution from travèl, and are somÈtimes even the first option as opposed to an alternative option,
Reserves Policy
The SDC Finance Commrttee reviews the Reserves Policy detail at regular intervals, in line with the
SDC 5tiategy and financial cofflpendium. The SDC aiffjs tu hold between 12 and 15 month5 of budgeted
total costs in its free Reseryes. In accordance with Charity Commission guidance this is to- protect and
saleguard the assets of their charity,. perrnit the Society'5 Board to act with Tea50nable care and skill..
and ensure the charity is accountable.
In establishing this Reserves Policy* the SDC Finance Committee a55essed.' why reserves might be
needed for the charity to be effective and how much was needed in Resetwes, An impact and risk
assessment were undertaken to arrive at the Reserves Policy for the SDC in its current form.
The GroLbP re5eNes are ￿presented by ihe Group fund5 of £10,355,730 on 31" December12023 -
£10,021,215). Group cash ot bank and in hand, on 31" December 2024, amounted to £2,677.97212023
£3,433,3871 wliilst the cash at bank and in hand for the Charity alone was £78,119 on 31, December
20241£260,502 on 31" December 20221. Total resources expended by the charity alone In 2024 were
up at £1,232,51312022 £955,879). A sizeable 3mount of this1£122,5531 was on specific projects under
the auspices of the Project EvaluatigTr Group and expended from the Unfunded Projects Reserve Fund
which exists for this purpose. Perkin House also had several pieces of overdue work undertaken on it
in 2024, as well as some repairs due to weather damage, amounting to E23.829 on property
maintenance, £12,379 Dn building equipment maintenance and £4,783 on inleriur wnalntenance,
16

sdc
ocieiy OF dyers
and colour151S
The Socie
2024 Annual Re
ofD
er5 & Colourists
ort & Financial Statements
The SDC had free cash at bank and in hand (not designated for current or futUTe PEG Project51, plus
Brewin Dolphin managed investments, and taking into account debtors and creditors, on December
31" 2024, that afftounted to 9.4 months of 2024 expenditure lin 2023 this wa5 10 month51 and thus
slightly below the reserves policy above.
Where funds held are restricted these are shown in the Annual Accounts (See Note 26 Funds) where
permanent endowment funds are also detailed.
Project development 2024
The Society's Board h35 identFfied a Projert Evaluation Group IPEGI, which has assessed development
projects and prioritised them. The Board have identified and designated tolal funds for these projects
to ensure they can be concluded. The projects are key to SDC impacl and delivery over the future
years, ensuring delivery of charitable objectives anLI growth in sustainable income.
A UK Technical Conference was held In Bradford in November 2023 was held again in October 2024 at
the same location, In 2024 there was also an International Conlerence. held in Manchester in lune,
and the Society hosted the DHA43 International Conference in Leeds.
The Textile Collection in Perkin House is being catalogued and made available for others to access via
procurpmEnt of an archive database and a fixed term appointment of a SDC Archivist.
Review of Activities
Bursaries
The SDC Bursary scheme has two funding streams:
A. Main Bursary (Up to £5001 For undefgraduate and postgradtbate students on a relevant course
le.g. Colour Chemistry, F35hion & Design, Textilesl
B. ASDC Bursary (Up to £2501 For students registered for the ASDC examinations.
The SDC Bursary scheme is managed overall by the SDC Education, Qualification and Attreditatio
Board IEQABI. In 2021 no bursaries were awarded 35 the pandemic preventEd artivity by applicants-
indeed one bursary was refunded to the Society due to the recipient not being able to undertake the
planned 3Ctivily. In 2022 there was an increase but still only 3 bursaries were awarded as activity onte
again resumed. In 2023 there was strong specific marketing promotion of the bursarie5 to grow the
number of applications, but the number of bursaries in 2023 was only 4. The marketing conlinued
and the concerted input had an impact a5 2024 saw 8 bursaries awarded as follow5..
Lava Sillitoe to support the purchase of items for practical work on an Information Design
module in Textile Design
Rebecca Watson to suppon the investlgation into the application of colour gradients to a wide
range of interior fabrics and materials in her final year of a BA Textile Design degree at De
Montford Universlty.
Ruth Lloyd to support attendance of the Biocolouf conference hosted by the University of
Helsinki and the Biocolour can50rtium in Jvne 2024.
charlene Jordan to support attendance at DHA43 Conference
Yan Feng to SLlPPOrt her PhD work on ' A Practice-Based Exploration of Natural-oye and Bio-
Materi315- Thei¥ Histories and Mythologies, to Achieve the Sustainable Development of
Fashion and Textile Artisan Comrnunities.
17

sdc
society of dyers
and colourists
The Socie
2024 Annual Re
ofD
ers & Colourists
ort & Financial Statements
Zofia Zhang to support attendance at DHA43 Conference
Viveca Mellegard to 5UPPOrt attendance at DHA43 Conference
E Palomino to sllPPOrt attendance at DHA43 Conference
These bursaries SUPPOrt colour science education of the recipients. The sharing of their activity and
reports at events and through The Colourist magaiine and Blogs on the SDC website ensure5 Ihat
several of the Royal Charter Objectives are addressed more widely, especially the dissemination of
knowledge aboltt colour.
Training
SDC Trainin8 courses continue to be delivered by external partner companies. In 2024 3 individuals
received colour fastne5S training in China, plus 3 UK company received on-sste training for staff on 'An
introduction textile coloration, and 'An introduction to colo¥r assessment,.
SDC Inlernational also deltvered training to many individuals in India and Sri Lanka in both educational
institutes and companies.
In 2020 the Society started a Webinar programme wf(h the first live webinar airing in May 2020. There
now st3nd5 a collection 38 SDC Webinar Recordings on the SDC webslte which are available free of
charge to currenl SDC Members and at a nominal £20+VAT charge to non-members. The 5 SDC
Webinar5 first aired live in 2024 land avatlable as recordings via the SDC website) are listed below..
D e Discoverie5 in the 18th and 19th Centuries- SDC Online T3lk
Graham Cla
ton and Harrie Schoots- Life as a textile consultant is it for
Graham Clayton and Harrie Schoots
Ranka- Innovations in Sustainable Textile Production- SDC W41 by Dr Ajay Ranka of
ou? SDC W42 by
Zydex
Anna Pan
bourne- The Fashion and Textiles Childrens Trust
Pangbourne
la
anta San
FTCT - SDC W40 by Anna
I-Su5tainable Textile Finishin
andD
ein
SDC W39 by Jayanta Sanyal
In addition, 9 of the UK Technical Conference presentatiorts were recorded and are available to view
as recorded webinars on the SDC webslte..
SDC 2nd UK Coloration and Finishin
SDC 2nd UK Coloration and Finishin
SDC 2nd UK Coloration and Finishin
SDC 2nd UK Coloration and Finishin
Ton
C 2nd UK Coloration and Finishin
SDC 2nd UK Coloration and Finishin
Conferente 2024- Panel Discussion 2
Conference 2024- Panel Discussion I
Conference 2024- ctex Rob Ricketts
Conference 2024- Verivide Russel Thor
e and Ste
hen
Conference 2024- Fibre 52 Gfaham Stewart
Conference 2024- Lee Howarth Archroma
2024- Environm
niA
Sea
SDC 2nd UK Coloraiion and Finishin
Conference 202
C 2nd UK Coloration an
Finishin Cotlference 2024 - CHT DietEnar Hi
Foundatlon Textile Coloration Certificate IFTCCI & Textile Coloration Certificate rrcci

sdc
socieiy of dyQfS
and colouiisls
The So¢ie
2024 Annval Re
ofD
ers & Colourists
ort & Financial Statements
Twefve students studied the first year IFTCCI course for the academic year 2023 - 2024, completing
in June 2024. Four students were studying the TCC Course.
This spread of numbers sUPPOrt5 thE theory that the rnarket is stlll interested in such qualifications
but IS Cautious about longer term commitment (financially and in terms of their staff timel unless prior
engagement ha5 proven some merit to the qualification. This is further reflected in the ASDC
qualification take up (see below) where caution by indltstry has seen a fall in numbers.
ASDC Quallfication
Textile Coloration Science and Technology (Level 61- leading to A550ciateship of the society of Dye
and Colourists IASDCI - is a three-year Iminimuml distance learning course, leading to a benchmarked
honourf5 degree level qualificailon. The programme has received the Ecctis benchmarking assessment
that it is a Level 6 qualification lequivalent to a good honours degree, as defined wtthin the Framewoik
lor Highei Education Qualifications). Ecrtls introduced a time limit on Such benchmarking, such that
the benchmarking of the A5DC would expire at the end of 2022. However, hard work by the Education,
Qu31ification5 and Accreditation Board of the SDC, along with SDC Staff. ensured the benchrnarking of
the ASDC was renewed successfully for another five years. Ultimately gaining this qualification allow5
students to apply to be a Chartered Colourist (Ccoll.
The online course covers the fundamental textile coloratFon principles and processes and 15 made up
of 6 modules that are designed to meet the needs of the students and their chosen industry-. Dyeing
of Natural Fibres, DyeinE Theory* Textile Printing, Dyeing of Synthetic Fibre%, Chemistry of Colourants
and Colour Physlcs.
The cost of the degree equivalent ASDC is much lower than a university degree, plus students typicallv
'earn as they learn. in employment and their employei therefore also reaps immediate benefit5 from
their 5tudie5.
In 2024 just two Stvdents V4ere enrolled on the ASDC Course includSng one who Is the first recipient of
Maurice Tordoff bursary to undertake the ASDC and wa5 an outstanding graduate of the TCC course.
Publicatlons
Four 555ues of The Colour15t, an SDC member benefit, are produced per year, with production nDW
outsourced to an e.xternal marketing company, The external team work closely with all SDC staff in
the content collation and even undertake interyiews and photography on behalf of the SDC to make
production happen. In 2024 the 4 editions of the Colouri5t amounted to 83 page$177 in 2023 and 76
in 20221 In the usual 4 editions.
Availabillty of The Colourist Is communicated to member5 via ernail and so the SDC ha5 measures of
tl)e open rates and click through activity to The Colouri5t. Mefflbets were also provided with free
acce55 IFI the Members area of the website toscience in Porlioment, both of which receive a great deal
of inleresl.
Colorotion TEchnology, the SDC academic journal published in coniunction with Wiley, covers many
aspects of coloration with 3 detailed overview available Dn the Wile
's web51te for the journal. The
Wiley's goals for Coloration Technology have been to grow readership of the journal, ensure the right
authors submit papets and enhance the Society's reputation.
19

sdc
society of dyei
and colourist5
The Socie
2024 Annual Re
of D ers & Colourists
ort & Financial Statements
Just 12 Institutions access Coloration Technology viè a specific
sijbscription, whereas 4,254 Institutions access (t through
license that allows the institute to access a whole h05t of
Wilews titles, which includes Coloration Technology.
Coloration
Technology
Individual subscribers are very much in the minority and wlll
only b@ provided with electronic access, as is cornmonplace for
the vast majority of Wiley's journals today. Wiley do offer a
Print-on-Demand option however where hard copies of issues
oi articles can be obtèined.
In the past the Coloration Technology Impact Factor has been an Important publishing metric and one
that has seen positive growth over the year5. Wiley is now moving away from journal-based metric5
and specifically the Journal Impact Factor. Article level metrics and individtsal author contribution are
now the metrics of choice.
Most vlewed artlcles on Wlley Onllne Llbrary
It•nk
Ar￿(19T1*1•
The role5 ofetevated temperature and caTrier5 in the of potyesttrflbres
usinK disperse dyes.. Pan 1 fundamenral a5PEf15
Evaluation of thp exrracr5 of purple basil (Ocimum ba5il¢cum U 05 naiur
pH-Indlcaior dyes anticipated io be uti115ed In Intell...
ErKapsulafjon of colDranty by nawral p0￿er5fOrfQ0d appllcètions
1,404
1,0
135
1.052
5upercrftlcal carbon dloxlde15C-C02ldyeln8of celluloseacetate.'ArF Opportunity fvr
'greenefclrcular texfjle economy
Natural dyeing of plasma treaied woolwlth avocado seed extractand use of tartani
acid as bio-tnurdant
139
918
906
Natural dypins of air pla5ma-troated wod fabrliwith PJjblaenct￿uM L and
predirtion of dyeing properties using an artificial n...
Developtren15 In the chemlstry of re3cD¥e dye5 and theirapplicatlon proce5se5
826
769
Study of the dyeing propÈrtles of saffron and ultrèfiltrated saffrm powder& as
a￿OUra￿ts ftrr natural and synthetit fibres
The developmentof Indigo reduction method$ ond pre-redvced Indigo produtts
710
725
697
Developnpnt of potycaprolactone-ba5ed elecrrospun pH-sensitNe 5ensorsas
Instant colorlmetric indicators for food packaging
739
685
Th15 table Includ*5 detèlls Df the 10 mDst-accEssed aTiicles of 202& The avprage number of vlews per article publlshed In
yourjournal in 2024 wa5 176. kr055 all jouma15 Ihatwlley publi5he5 in Ihe samE subjectarea, the average number ol ¥1thE
per arucle wa5 126.
20

sdc
society of dyers
and colouri5ts
The Socie
2024 Annual Re
ers & Colourists
ort & Financial Statements
The trend of Article views of Coloration Technology article5 continues to grow, as can be seen in the
chart below. The countries around the globe who access Coloration Technology continues to be large
with a similar annual profile as shown for 2024 below.
Artlcle vlew5 trend
Top 10 usage countrleslreglons.,
ioothyj
Lhiied Stai
Turkey
Ihted Kingdofft
Ji%
4Q(W)J
South Korea
p4￿51a￿
Éwi
Hong K¢my
l Gem)any
Ott*tS
lo.￿
The number of accepted articles continues to be healthy wlth the number rejected without review
increasing slightly in 2024. China, Turkey and India were again the three top countries where
submissions arose.
CountrylreOon of 5ubmlsslons
Accepted and rejected artlcles
42
BaWthJ¥.I
Kingdc
tli 4
Gwmai.
Cx￿.￿S
*ithout Attvptwt
Reie(ted knith
20
The SDC 15 very grateful to Wiley for its a5SiStance in terms of both resources Ond expertise. Wiley has
a marketing plan in place for Coloration Technology. In 2024 the number of pages in Coloration
Technology across the year rose from 678 in 2022 to 732 in 2023 and now 923 in 2024, 3 rise of 26%
on 2023.
21

sdc
society ol dyers
and colour15t5
Thè Socie
2024 Annual Re
ers & Colourists
ort & Financial Statements
Publlcatlon trend
Avefage days
MedlaTh days Average day5
Medlan days
from r￿t1p¢ at Irvm TKelpt at from recelpt at frprn rKeipi èt
Wllty to E•rly Wlley to Early Wfjiey to onllne Wlley to onlln•
Vle
Vlew
Issue
Issue
publlratlon
publlcJ¥on
publltatlort
publlcatkln
Year
YO￿Mè
NumbÈr Number Number
of15sue5 ofartlcle5 of page$
2Q24
140
60
923
31
23
275
271
2023
139
S9
732
21
205
216
20ZZ
138
58
678
21
176
183
Colour Index~
The Colour Index~ is known worldwide and is used by many companies, research institutes,
universities and government bodie5. Many Colour Index- users a￿, significantly, outside the
traditional textile manufacturing and dye houses SDC sectors.
The decision was taken in late 2018. by the Society'5 Board, to transfer the Colour Index~ sales and
marketing to SDC Enlerprises Ltd. This took some time to complete for several reasons, including
appropriate HR con5ult3tion5 and proce55es, but the transfer took place from I" June 2019. The
Colour Index Pigment and Solvent Dyes Board continues to meet under the auspice5 of the Society to
maintain independence from the rnarketlng and sales function.
Standards
SDC'S active involvement with B51 Standards ensured iheir continued relevance, accuracy and
LIS8bility, based on sound scienlific knowledge for the benefit of the supply chain. The area5 covered
chemical, physical and flammability testing Df textile5, textile cleansing and care labelling. and èppaiel
and Interior textile Iprodurt specificationl. The SDC provided the Secretariat to the BSI technical
committee TCI 81 for colour fastness of textile5 and colour communlcation thus supporting all UK
indtjstries lor colour and textiles.
The SDC. as required by our contract with Iso, has the Secretariat of TC38 SCI Coloured textiles and
Colorants, with partners in China. Brian Woolley continued as secretary to this COFnmittee although
has now retired at the end of 2022.
The SDCS Technical Director Andrew Filarowski is the secretary forTCI 81 as stated above and
representation on the following committees is as indicated.,
TCI/IOO Co-ordination of activitie5 in lextiles and clothing A Filarow5ki
TC1124 Physical Testing of Textiles Jonathan Foister1SDC Enterprises)
¢1 TCII80 Chemical Testing of Textiles A Filarowskil S Boltonl Jonathan Foister ISDC
Enterprises)
TCII06610-108 Burning behaviour A Filarowski
TC1181 Colour Fastness & Colour Measurement of Textiles Jonathan Foi5ter ISDC Enterprises)
TCI/082 Texliles care labelling, dry cleaning, domestic laundering and drying A
Filarowskil Jonathan Foistef ISDC Enterprisesl
British Standards Institution Technical Committees- A Filarowski a5 SDC representative
CW/15 Safety of Toys S Bolton
STI/14 Colour Measuremeni & Schedules M R LLto
The SOC would like to thank all the above individuals for all their work un behalf of the SDC on these
committee5.

sdc
society of dyer5
nd colouris15
Ttke Soci
2024 Annual Re
OID
er5 & Colourists
ort & Financial Statements
Events
The SDC events showcase research and best prattice in toloration. They also provide education,
inspiration and networklng opportunities. SDC events afe regional. national and international. with
wide tsnging topics and diverse audiences. Many are f￿e to attend, especially for members, with a
Strong focu5 On Supporting students and young professionals, The SDC a150 jointly organi5es events
and participates in events organised by others, thereby spreading SDC'S educational reach and profile.
Suth everkts very mtthch ali811 Wlth the Oblect5 01 the SDC Royal Charter a150. That Governing document
describes events in a language of its time to "hold meetingsfor the reading of papers und giving of
lectures colorotion ond colouring motter5 ond for discussion of the SOMÉ" In 2024 this Objert in
the Royal Charter was delivered partly online via SDC Webinars which are listed in the above in this
Annual Report.
Details of all SDC events can be found on the SDC website and many have featured reports after the
event in edition5 of The Colouri5t which SDC Members can access via the 5DC website Members area.
In 2024 it was the Societ¢s 140, year and the ColDur Index~ Saw 115, centenary. There were several
SDC connected events including:
Items from thè SDC textile collection feature in 'Colour5 Uncovered, exhibition at Haiewood
House, Yorkshire, UK from 22 March - 9 June 2024 with coveraEe also in local media and many
thousands of attendees
A PTe5entation on 'Weaving Voices- Back Home and Reimagined, at Sunny Bank Mills Archive,
YDrkshire in April 2024
International SOC Conference on 'Sustainability & Circularity in Coloration
Innovation5 in
sustainably supplying the needs of 8+ billion people, in fvlanchester, UK in lune 2024. Almost
IQO atiended the evenl, a dozen on SDC bursary places, celebrating 140 years of the SDC with
speaker5 from seven different countrie5 over the 2-day event.
The 43, International Conference on Dyes in History and Aichaeology in Leeds, UK in October
2024. Approximately 80 attended the event from global universrtie5, institutions and
museums brit)ging the SDC Archive to a global audience and directly related to coloratlDn. The
Colour Group were a150 a key collaborator awarding a prize for the best poster PTesentaiion.
The Second UK coloratlon and finishing Conference in 8radford, UK in October 2024. This
event was very well received with over 100 people attending an experience of positNe
interaction with UK industry. several 5tudei)ts from SDC Educational Provider Member5 were
also given travel bursaries to attend and this will once again be offered in 2025.
The SDC Annual Awar(Js Ce￿monY at The Merchant Adventurers, Hall, York in Novernber 2024
ThE SDC Day of Celebralion Dinner at The Merchant Adventurers, Hall. York in November2024
OtherSDC Involved events In 2024 intluded regional meetings In the UK and overseas.
Membetshlp
In 2024 SDC Membership finally achleved an Important milestone: the long decllne In membership
numbers was arrestedl Total individual membership numbers have been falling foi well over a
decade or more, but in 2024 were 597, which was actuèlly 2 above the end of 2023. New members
were at 116122% of these being re-joins), a level not seen since the 117 of 2018, so recruitment o*
members wa5 up 8lso. Voting members did reduce by 12 although in recent years that has been much
higher12023 saw a 21 fall, 2022 saw a 17 fall, 2021 saw a 46 fall) and this 2024 reduction wa5 equal
to the reduction in Ccol nurnber5 lie also reduced by 12 2024 cf 20231, who are also Voting members
23

sdc
society of dyefs
nd colouri5ts
The SociÈ
2024 Annual Re
ofD
ers & Colourists
ort & Financial statements
of course a150, Ccol member5 are obviously typically older, mofe expe¥ienced individuals and so we
do lose members in this category due to total retirement from sector activity and sadly deaths. The
overall individual membetship retention rate was 81% in 2024. Almost half of the individual
member5hip149%1 are Chartered Colourists and the retention rate amongst this group of member5 15
95%.
Membership profiles are held on the 51)C website and synchronised with Mailchimp, the SOC email
communicalson tool. This has improved data quality a150. All members are contacted when their
membership comes around for renewal and after it has lapsed wtth a series of communications
encoura8ing them to renew. This has also been applied to those whose mernbership lapsed in recent
vear5 and a number have come back into membership in the last 12 months.
SDC Membership at 31 December
6YJ
59)
i?
a)14
2016
18
I￿2 2024
In the past the case for taking up 5DC membership has arguably been weak, and work over recent
year5 has been put into strengihEning that offer. The Colourist Magazine is now only available to
members, and some have rejoined to regain access to that once again. Webinars are available free of
charge to members, but non-members and lapsed members now need to pay for access
gain
increasing membership renewals. Privileges of membership are now felinquished on the day the
membership lapses which is driving members to renew and auto-renew to retain access to their
benefits.
At the c105e of 2024 there were also 22 Company Member5 anil 19 Educational Provider Members OF
the Society. Group Membership retention rate5 are 83%. hence sliEhtly higher than the retention rate
of individual members. The number of Company Members has varied between 20 and 26 over the
2017-2024 period and hence us sli8htly below the 8-year average of 23. Edurationbl Prcwider
Members have numbered 12-26 over the same 8-year period and so afe not also slightly below the
Year average of 20. These Group Memberships represent in total 180 Company Membership
individuals and 316 Education31 Provider Membership indivi(iuals. Hence, the total of Individual and
Group SDC Memberships surns to 1,093 people.
In lale 2020 a Governance Task Group of the SDC ALtdlt Committee was a150 Put in place to update
and re-draft the Society's Rules, By-Laws ènd Royal Charter clauses to put to the SDC Membership at
a General MeetinB for approval. This was to include the re-structure and naming of some membership
categories. That work continues and Audit Cornmittee and the Society's Board are aiming Io see that
concluded and passed to the SDC Membership as soon as possible. The need for this has also been
24

sdc
society OF dyers
and colourists
The Socie
2024 Annual Re
ofD
efs & Colourists
oft & Financial Statements
raised due to the saLI pa5sirig of Queen Elizabeth11, since the Royal Charter is awarded from a specific
monarch. As with all Royal Charter bodies the SDC therefore needs to apply for a new Royal Charter
from King Charles 111 and to incorporate de51¥ed change5 at that time would be Dptimal.
That review of the SDC Governance documents is nearing completion with the Governance Working
Party having reported to Audit Committee in early 2024. Those proposed changes have been ￿vieWed
by external charity lawyers and are being checked and proofread befole bein@ presented to the
Society's Board and from there to a General Meeting of the SDC Voting MeTnber5. Before that meeting
member5 will have plenty of time to review the revised documents and will be briefed in detail on
changes made. Progress on this in 2024 ha5 been regrettably slow dve to available staff re50Ufce ffont
he now small SDC staff team. However. it 15 planned to prioritise these documents for progress in
2025.
One change the Societls Board made back in 2022, was that the fee differential for Voting Members
and Non-voting Members be abo115hed, All Voting Members now pay the same membership fee as
Non-voting Members, unles5 they possess a Ccol whereby they pay the same level of fee as they did
previously as Voting Membe15. Thi5 ha5 increased app15catlOT15 to be regraded from Non-VotiiiB
Membership to Voling Membership and the system for such has been further accelerated suth that
some re-gradings have now been approved wlthin 24 hours. It 15 Irriportant to note thai the threshold
to becofne a Voting Member has not been changed but the drive to have Non-voting Member5 apply
for upgrading their membershlp, ar5d the turnarotsnd time to Èvaluate such applications, has been
greatly improved.
The number of non-voting members 15 therefore declining, although new adult members commence
their SOC Membership journey through this Non-voting c3tegory. In 2017 the number of non-voting
members wa$ 197 whereas In 2023 it had dropped to 82 and In 2024 was 87.
Membership value for monev
Going forward more is being made of the membership benefits and their valiie for moneyi a5 eviden
exi5t5 to demonstrate these are ill-understood by members and prospective rllember5 alike.
The Colourist member rnagazine wa5 re-launched In 2021 as an electronic only publicatio
Ithu5 addressing production costs but also environmental impact5 of paper production and
international postage, a task made more difficult and costly by the pandemic and Brexitl. The
Colouri5t features more company member news and profile5 and is being produced by
outsourced marketing 5peciali5ts. The c05t of The Colouri51 in 2024 now amounts to 75% of
SDC Membership fee income. In 2025 the Society is looking at way5 to Teduce the costs of
The Colourist production further as this is a substantial proportion of the Membership income.
Many members also welcome the free access to SDC webinars lusually charged at £20 per
Webinar for non-member51 including acces5 to recordings of past webinars. For Non-voting
and Voting Members the annual membership fee is the equivalent of just 3 live or recorded
webinar accesses per year, whitst for Chartered Colourist5 the number 15 5 live or recorded
webinars per year.
The Science In Purliament publication, also available in the members area of the SDC webslte,
is a wide-ranging publication available free of charBe as part of the SDC membership
5ub5cription.
Members 3150 receive generous discount5 on: SDC Iiooks and e8ooks-, Colorotion Technology
5ubscription5.' and SDCshort COLtrses. The website has made book purchase5 much easier, and
members will see discount offers on SDC books after they are logged into their members area.
25

sdc
Society of dyer5
and colourists
The Socie
2024 Annual Re
ofD
ers & ColouristS
ort & Financial Statements
From time-to-tiffle SDC Membership also entitles acce55 to webinars and events of other
organisation free of charge or at reduced cost, plus (to SUPPOrt inte¥net access to SDC
webinars, committees, and ￿eetIngS1 rnember5 can access discounts on Dell computer antl
accessory purchases Iwith some country limitations applied by Delll.
Members often have opportunity to provide presentations via the SDC Webinar series, of
which the marketlng and promotional value of their company and personal brand far exceeds
annual membership 5ub5cription rate5.
Members of the SDC are also part of the regional activity where sufficient members exist to
make regional activity viable. These regional network5 have always been core to SDC
membership benefits. and theirvaltse is hard to estimate. Members who engage with regional
activity ttowever value then both very highly and for a long duration. often counted in
decades.
Before the discounts above are taken into consideration. the cost of individual membership to the
SDC is ca £68 pa before any staff time at all is taken into consideration. Studenl membership is priced
at less than this, $0 many members support our student members through thelr membership
subscriptions. For all other membership types, once staff time is added, the cost of membership
exceeds the subscription price. SDC membershlp subscriptlons do deliver value for money when the
features and beneftts are considered and. like all rnemberships, the mole one ersgages wtth the
organisation, the greater your value for money from your SOC membership.
F51
JSJ
MT
Isu
)tsJ'
26

sdc
goclety of dyers
and colouflsts
The societ of D
ers & Colourists
2024 Annual Re
ort & financial Statements
Sponsorship
The Worshipful Company of Dyeis have generously sponsored the Soclety over many years. This
demonstrate5 the ongoing commitment of both organisations to ihe ski115 development in ihe
coloration sector and the SDC is very grateful and encouraged by their generous support. It should
a150 be added that their keen interest in the development5 is very much expre55ed and is a5 welcome
as their funding. In 2020 the Worshipful Company commenced support of the SDC in setting up the
'Future Dyers Fund, to help financially anyone from England applying for our Ffcc and TCC courses.
This exce15ent initiative means that through the Fund the SDC can ensure Siudents continue their
studies and skills development to assist them in Securing future employment also. Ten such students
were 5UPPOrted in 2024 Iseven in 20231 and ihe fund now sits at £7,208 Idown Irofn £17,801 in 2023,
but still with sufficient resource to support UK based applicants). Applicants living in England can
receive up to 60% of their fee5 paid and in the case of those unemployed have all their fees paid.
The Cotton Industry War MemorSal Trust ICIWMn have also been a long-teim supporter and sponsor
the 5ociety'5 activrtie5 and continued to support our conference5 in 2024 as well a5 sponsoring
childrens books for schools in 2025. The support of the CIWMT is veiy welcome and important in its
longevity of WL7rking with the Societv.
Partner and Aifiliate organisations
The SDC Charitable Objectives from the Royal Charter includes -To co-operate with other scientilic
organisutlOll5 and bodies in relotion to colour ond its opplicotion und use" To this end the SDC is ari
active member of The Science Council and The Parliamentary and Scientific Committee. Other active
network Ilnks to partner organi5alion5 include the AATCC. A5BCI, several unlversltles, and The Society
of Leather Technologists and Chemists.
The SOC also has long-standing alfiliate relationships with the Society of Dyers and Colourists Df
Australia and New Ze&land15ee htt
www.sdcanz.coml and The south African Dyers, and Finishefs,
Association ISADFAI (see www.sadfa.or
.za
In 2024 onwards as part of the SDC strategic Plan, the relatlohships with partner and affiliate bodies
wlll be clarlfied and expanded to ensure this Royal Charter Object is further adhered to and also that
the work of the Suciety can be expanded.
Investment Policy
The SDC funds include equities held in a managed portfolio at medium risk and cash held on term
deposit accounts not required for current activities, Equltles are held In fixed interest, ordinary shares
and government stocks. The portfolio value Dn 31" December 2023 was £975,697 and by the end of
2024 this had fallen to £913,435, During 2024 a total sum of £IOO,0001£50,000 each in October and
December) wa5 transferred from the investments into general funds to support 5DC cash flow and
hence accounting forsuch movements the investments acr055 the year had grown 3.9% to £1,013,435.
In addition, during 2024 £25,101 was recelved into geneial fund5 from dividends (lust £1,523 lower
than in 20231 arising from these investments. Including this income the return on investments in 2024
was 6.4% in 2024 (wherea5 2023 ovefall in¢orne from these investments v4a5 6.6%).
The SDC investmenls are intended fof the long term. In re￿nI years there have been huBe
international impacts on investments Ithe Corona virus pandernlc, wars In Ukraine and the Middle
27

sdc
society of dyers
and colourists
The Socie
2024 Annual Re
OID
ers & Colourists
ort & Firtan¢ial Statements
East and associated international higher interest rates and their consequences on economies) but in
late 2024 some recovery was Seen in the markets. This has all been10st at the start of 2D25 due to
the Tariff5 and wide international volatility introduced by the USA Government under President
Twmp. By the end of QI 2025 the Society investments have now fallen to £887,265. levels last seen
in March/April 2020 as the Covid pandemic broke internationally, albeit levels they recovered from.
SDCthiÉtrn4nii
rtiw
Ip4
SDC Strategy 2025-2027
The SDC Strategy below was developed over an extended period of time in conjunction with an
external strategy consultant with extensive membership body experience. The Society's Board, SDC
Staff and many stakeholders were invited to take part also.
The Society's Objects remain unchanged but the SDC Mission has been revised to be more inclusive
arid remove any emphasis, implied or otherwise, of an academic org8ni5ation only. The Value5 have
been reviewed but are those held for some year5. The fours Priority areas are interlinked and iheir
numbering does not indicate any priority of more important than any other priority. Below each
Priority are 3-5 year goals and key initiatives / activities for each year (not included here for
simplicity).
This Strategy, as approved by the Society's Board in Novembef 2024, does not remove previous foci
of activities bL¢t expands them to encompass more colour ielated activity. Textiles 15 historically the
key sector for the Society and will rernain so, with other sectors increasingly being pbrt of SDC
engagement.

sdc
gociety of dyers
and colourists
The Socle
2024 Annual Re
ofD
ers & ColourSsts
ort & Financial Statements
Society Objects (as taken from the Royal Charter)..
To promote by any or all available means the advancement of the science of colour.
Revised Mission/Purpose.'
Sharing knowledge and stimulating interest in colour.
Values."
Passion and Pride
Trust
Courage to Act
Continuous Learning
Inclusivity
Priorities..
5harln8 knowledge through our SDC Communitles, Publlcations and other channels.
Ambition:
The knowledge we share in relalion to colour and coloration will be regarded as trusted and
independent and, throu8h ouf networks, comprehensive and accessible.
Growing the proftle, reach and influence of the SDC.
Ambition:
We will be recognized as a thought leader and respected globally as a relevant body to
engage with, and a conduit to access our community of colour professionals and other
networks.
Through this recognition we will benefit from growing global engaEement and increasing
membership across all experience-levels and fields.
Supporting Education in Colour and Coloration.
Ambition-
SDC'S Colour Education modules, courses and qualifications will be seen as the recognized
pathway for roles in colour. design and coloration at all career stages.
We will stimu5ate strong interest in colour through our active enEa8ement and provision of
learning resource5, SUPPOrting students and education through 5UPPOrt of their currrcula.
Delivering sustainable financial stability and effective governance.
AmbitlDn'.
We wi51 develop and maintain a 5UStainable business model with sufficient income to enable
the SDC to deliver it5 Other priorities in this plan and invest Sn new growth activities.
To facilitate our worldwide engagement plan5, we wi51 develop effective and streamlined
governance structures and processes.
29

5dc
iociety OF dyers
and colourists
The Socie
2024 Annual Re
ofD
ers & Colourists
ort & Financial Statements
Fundraising
Section 162a of the Charities Act 2011 requires charities to make a statement regardin8 fundiaising
ttivities. Although we do not undertake widespread fundraising from the Eeneral public, the
legislation defines fund raising as "solititing or otherwise procuring money or other property for
charitable purposes., Such amounts receivable is presented in our accounts a5 "voluntary income"
and Include legacles and Erants.
In relation to the above we confirm that all solicitations are managed internally, without involvement
of commercial participators or professional fund-raisefs. or third parties. The day-to-day management
of all ifitome generation is delegated to the executive team, who a￿ accountable to the Society's
Board.
The charity is not bound by any undertaking or bound by any regulatory scheme and the charity does
not conslder It necessary to comply with any voluntary code of prartice.
We have received no complaints in relation to fundraising artivities. Ourterms of employment require
staff to behave rèasonably at all tirT7es,- as we do not approach individuals for funds, we do not have
to particularise thi5 to fundraising actwities nor do we consider it necessary to design specitic
procedures to monitor such activities.
Risk Assessment
The risk sltuation is reviewed by the Society's Board who judge that over the next three years the SDC
has a low to rnedium risk that charitable activitie5 may be less because of a reduction of available
funds. Insurances are held wherever possible to cover for external events and internal managemenl
15 used to mTrnimi5e potential occurrence and impact. In 2024 Gift Aid was received monthly and this
assisted in smoothening the SDC finances and lowering risk onte again, although the UK an(1
international economies were nol without financial pressures and turbulence.
Human Resources and Equality, Diversity and Discriminal￿On Policv
The SDC is an equal opportunitie5 employer and encourage5 diversity. It is non-discriminatory on age,
disability, ethnicity, gender reassignment, marriage and civil partnership, race and religion, Sex ènd
sexual orientation in all operations and in all membership matters.
The SDC now has to account each year in financial terms to our Audttors for the annual leave and
flexilime carried forward. Hence, through a lime management SV51em linked to the Building Security
System, the SDC can now manage the staff time delivery.
HR support and expert advice is provided by an e)rternal HR company. This includes remote and on-
site support foi staff and manager5. as well a5 a web based secure HR portal for HR records, and
holiday and sick leave monitoring.
Data security
Data security has been, and will continue to be. a very important issue and the SDC will ensure that
User information is protected and IT system5 secure. In addition to protecting such information the
SDC does not supply any individual's information to others unless it is for a specific SDC purpose le.g.
management of the call for nominations and related voting for trustees and other posltions on
commltteesl.
In July 2024 the Society was contacle(i by West Yorkshire Police and infomied the National Cyber
Security Netwofk had received intelligence that the SDC network had been breached. The Societv
worked in tonjunrtion with ils external IT rnana8ement company and We51 Yorkshire Police to
investigate such claims, No evldence of such a breach was fDut)d at all but a5 precautions passwords
were changed, acee5S Ports made more secure and monitoring for such breaches increased. The
30

5dc
?ociety ol dyer5
and colour ists
The Soci
2024 Annual Re
ers & Colourists
ort & Financial Statements
Society 15 grateful that no evidence was found to 5UPPOrt the Cyber Security Network claims although
the exercise was useful as a check on SDC data Systems and security resulting in several improvements
to further reduce such outcome5, No reports were made to the Irsformation Commissioner or insurers
as no report could be supported by actual evidence.
GDPR
The EU General Data Protection Regulations IGDPRI came into force irt May 2018. The SDC prepa￿d
for this new daia regulation for many months. The data managed by the Society remains to be held
and used under GDPR regulations.
Health and Safety
The Health & safety policy of the SDC is to ensure a5 far as feasonably practical public, staff and the
environment are proletted and that all legal iequirements are met. £ach year the SDC has two risk
assessment reports produced by external experts on Perkin House Health and Safety and Perkin House
Fire Risk. These reports highlight a few artions to be taken based on Low-Medium-High risk
prioritisation. In April 2024 some internal building work uncovered some potential a5bes10s, which
was tested by an accredited body and results were found to be negative. In early 2024 the Building
Manager post was migraled to a SDC post as Entire FM Ithe previou5 Outsourced provider) went into
administration and the company set up in its place, Alkota, was not paying staff wages on time and
still owed its staff some wages in April 2024.
UK Pension Aulo-enrolment
The UK Government phased in auto-enrolment for employee pension Schemes over some years. In
2023 all of the SDC5taff members were IFL the SDC Peoples Pensior] scheme with ￿neWats taking pla
a5 required.
Remuneration Policv
The 5alarie5 of all SDC staff are Set based on a Finance Comffjittee and Society Board approved overall
budget based on itemised lines incltsding staff salaries. The SDC utilises a Remuneration Committee
to approve staff salary rises. The SDC Remuneration Committèe is comprised of the Honorary
Treasurer, Honorary Secretary land Chair of the Renumeratiors Committee), Chair of the Society's
Board, SDC P￿sident, Immediate Past President and President Elect plus the CEO. In 2022, against an
environment of inflation and ri5e5 wage settlements, a pay benchmarking report was commissioned
by Croner and this has also been the case in 2023 and 2024. This has informed the Renumeration
Committee of pay p051tioning of SOC staff lal median and upperllower quartile pay levels cf the ilK,
Region and Bfadfordl and lead to a 5.5% pay rise awarded in 2024.
31

Thesodth ol &CDIDurfstslSDCI
Yearemded 31 Oecernber20Z4
Staterneni ol IT￿5*<t$' Resporsibllltl
The tru5Eee5 are rE5ponsible lor pFeparin8 the Trustee5' Annual Report and the financial Stalemenl in accordancè wlth applltable and
United Kingdom Accountin8 51andard5 Iunned Kingdom Generally Accepted Accounting PrdL*cel.
The law appllcable to chantlQs ID England & Wa￿5 require5 the iTuslee5 to piepaie tinanchil 513temoDI5 for each finaneial year which yve a tru
and lair viewof Iheslatpol alfalis ofthe thariiyand olthe Incornin8re&ources and applicaElon ol reSDurces olihe Iharity for that periDd.
In PTepaTing ihese finanual 51aiempnis,thE [ru￿e￿5 are required io..
$￿eCis￿lIatyle è<counEin8 poIiciv5 and fhen Ihemtorts15tentlv',
observeihe methods and printiplesin theCharitiesSORP 2019 IFRS 1021..
ake &￿ementS and estimhtesthai are ￿aSOnable ana piu4eNt',
stète whetherapplicable ac¢ouniing51andards have been followed..
plep3￿ finanaal 51atements on iheRoiDRconcern basls unless li Ss Inapplopiiateto presume Iharihecharity wll conrintse in opeI3tion,
The tTU51ee5 awe re5PQnsible fDr keepin8 proper accounting fecord5 thai disc105e wilh re350vable accu￿(¥ at lime tht financlal pD511ion vf
the chaiity and enRblE thern to EnsuTe thai Ihe financlal 51atemenls comply with rhe Charitie5 2011. Ihe Charitie5 IAccouDt5 and Reg0rt51
RegulaLION5 2008 and Ihe proy151ons ol %he tru5l deed. They 3rÉ a150 re5ponslblè lor sate8uardiTh8 thè a5iÈt5 of the thariiy amcl hente faFtalltyB
reJ50nable 5te.p5 for the pre¥ention and dplettion D[traL￿ and other irregula11t￿S.
The trusteeg ale re5pon51ble lor the maintenan¢e and Inie81lty of the charity and finan¢l31 Informatlon Included on Ihe tharlty's web4te.
lew51atlo￿ ID Ihp Ur)irÈO King#Dm £oyerninB the PlEPafalioTr aqd di55emiTratiafi of financial 5t6ierDEnts m&y diMÈf trom le8i¥latiOn in athEr
Nri5dittion
This rewrtwasappro¥ed byihESociety's Boardon 24 April 2029and 5iRned on Its behalFbv'
.L(ffiLI.
l Lewis
Chalrolsocletys Board
V CheunK
Honorary5ectetary
G Clayton
CEO
HonoraryTreasurer
32

5od•tyof & Colow15ts1SD(I
Year ended 3IDE<embtr1024
InrtepEndETrtAuOStur's Report ￿ ih¢ ItuSteesotTh•Socleiy olDryer*&Colourlsu15rKI
Oplnknn
weha¥eautriteothEfinèqEk31staiemerlt501 Thp5ooeryOI ￿er5￿￿¢ CulouT1515afi¢ itssub5Idiarb2slthÈ'srOup'l forthe year ended 31st Decernber2024
which compri£ethècon501idated 51aierntnt ol Iinandal aciiviiiex ih? c00501idated tsalon￿ shepL ihv th8ntybal3nEE SheÈt,the consolidated slatemenlul
cash fi0*45and the ielaied notesto the finaTrcrdl 5Chternent5. Includin85i8niliTrnracrgunrine poli(ie5 Th￿ nnanoal rÈpGrtin8fr3mÈworkthat bas been
applied In IheirpiepèratioTri53pplicable law anduniied KIDgoomAcceuntinBsiandards Ivniled Kin8Jorn 6En*rJly Acceoied ACtovntinKPiartKel.
true andfair View olthe state of theBIOUP'5and paient charitysJflalTS95al 3tstDEcemberlO24 andof IhE8IDUP'S incom1￿￿eSOu￿esJnll
applltationof fesouices theyeai then ehrted..
• have been Property prepared Inaccordance wilh JThiie8 KingdDfflGvnet311y AttEpiedAi¢oulltin¥Prattice.-and
* nave been piepared In aLwrdancewiihtbe requirementsolthe 2011.
Basmfr•rèpl￿0n
We coiiduLted owaudlt In attLY¢in¢e with IntEmatiOiialStsndar¢s' onAuditinilUKI IISASIUKII and app11(ab￿la￿.0Urré5pQn5￿bI1itie5 undÉrthose
StanLt?tds3iefurther de5Cllt*d inihe Auditors ￿ponsIbIlI￿les1o1 ihe audii of Ihefinancial ststeiThent55eCtion ul our report.we are IndEpendEnl ol th
8roup3nd parent chBtity InaitardAncp With Ihe Èthiial requlremenisthat a￿ Ielv¥Hnttao￿r èudirofthe llnancial 5t31ernen151n the UK, iiicludin$ihp Frtcs
EthKal standard. hèvp Fulfilled our llthefeihital resp0fj5lbi1lki￿ 103ccordantrwlih the5efequlrement5.we bpiievethal thpauJ¢e¥identewt hève
Ohts￿rned 15suffic￿ni and aFprapTiaf2 to Pfovide a bxisforOuF Gpinio
C4ncIuslotsrelAting IoEDIrfLOncem
InauditlD8lhe flnan(13151Htement5. havEE4ntluded thatthetruStsÈS' USÈ of thewn8conc4in basisof accouDtinBin thEpieparationollhp IIDar*ial
dteinen15 15 &ppropT￿le.
Based on the woth we have pertormeLI, we have not i¢enblied3nY maT¢r31 Un¢ertaint￿sr￿13tytttt toe¥entsorconoitlODSth3L 1ndfv￿￿J11Yor Colle￿l¥e1¥,
rnay IA.%t JleDiliCarti lknubron ihe eroiip's paiErf charitV'5a1ylitV TgCOlltlntse a5a EoinÈconLeihlof èperiod of èt ￿3s1tWeIVè monthsliorn when tl
￿￿TrE131 5tatemeDtsar?authorised lor159Je.
OurrespM51ts11r(les andfhefesponsibilitie5of thptru5te25 wtth¥E5peciiD8oIDgcorLpfn 4f*dÈ5cdtsEd Ill the reltrlant sectionsofthli report.
The rruSteesaref25PQll5tsklortheoihEf ln10rrnat￿n Ihpoth￿I￿fOmllrRM carwi￿esthelnf0frnal￿n Induded In th2 annual repDrt olhprlhall thE
fifrancial 5tateiDents Jnd ourREPQrt of rhe IndependentAudiror5thE￿QD.
0￿rOPInIOn Dn thÈ finantkl statements not COvefiheotheF Inforniallon and.eAcepl tothe Extem olherw4seexplldtFY#ats#+n ovl tlon
expre553ny Iormol a5Surante rDn¢lusiDn Ihereon.
Inconnect￿rt witThOui atsdit DI the financial £tatemeDts, our respofislllllrylf to readtheotberinlonraiiofl and, In low￿der WhEthArihèother
Il we ioeniify Such rnaierial In(￿sIStE￿[be5 Dr3ppBrEnt matenal ￿$St￿LeMentS. W￿ arereoulredtodwerminevlhetherthere 158 m3teTlal miS#4tÈtnent
th2 tillancial 5t*emeD150ra nialeiial rni55tatprneot DI Llie DtheT inlurmètion 11, Ihe wvrk we ha¥e perlorTDEd. we CO￿1￿￿e thal there15 amatErfal
rniSrtaternentolth15Qlherinlort￿l1￿￿, wp arereouiTeO iorepurtthatfatt weh3¥lnOthln4LO ieport InthI51eBard
Maller5 oDwhkhwÉare foquiiedtufeport byeXCÈPtIo
wefiave nothingto rèport In re5pectof Ihe lollDWlnE matte￿¥therE%hechhl1tse5A¢¢1Ql1 ¢e4UITe5 usltsieporttoyouif, In oMropirts>Tr:
• theinfoirnatloD Ewen in the Report ol the Tru5tep5 15 jllWDY5tent in aDymatetkl ie5pe(t with Ihefiftanclal 5t3temen15. lll
b suffi￿ent aCCQUntlngrtc)rds n¢tbeen kept. or
Ihe pa￿nI(￿bIlly.51Inanrl&lsI3lemEols a￿￿Or1￿ #Ereemertl with the accuyntyn1r￿0r￿s0nQ rdums., oi
ReSpa￿s1￿111￿sd￿USlttI
A5explairted more lully In ihe 5taTementol TntheE5RespanSibilinc& thE tru5teesaie respon&iblefcrf the PFepafatlDn of thp IIDanci45 5talem¢n15wfvi¢hwv@
Lrtsè ènd lair¥iew. for such Inteinal control a5 lhpiryslep5dpl￿1nl1ne i>neie*5atytQ2tsblelhÈ preparaiion olfrDoncialstater￿n1Sth0t1fe free fro
rnatet131 rfSStatemeDt. whpiherduEiofraudDrerror,
In ptÈparin8thèfinanci31 MaiernentS, thetluSiee5are r25pon5lbletorassè5￿￿Bth￿ 8roup a￿1 PèrèntchèfltV'5 atrlllryto£ontinueA&agthDg con￿1￿.
d1511051ll&85 applitrdble, mattèrs ielated iosoiniconcern and using trhe 801nE<oKernbagsolactountingunknthElrknSteseither Intendtoliqthidatetht
thariryorlo ced5￿00*[3tl￿nS. 01 have no rea115tic alLernatlve buttDdoso.
33

Thp sp<i￿V ol Dyers &CDlourisis ISDCI
Year ended 31 Oe<ember IOZ4
Independent Audilaf s Rpport lo the Trustee5 ufThe Soclety ol Dryers4 Calour151s Isoa
Audltors, respon51bllitle5 forthe audit of the financlolstatements
We have beell appointed as audittsr& undef Section 144 Of ihe Chafltie5 Art 2011 report in accordance w+th the
and relevant regulations made or having effett thereunder.
Our objectives are io obtain reasonable assur3nce 3bout whether the flnaDcial ststernents a5 a whD1e are fre2 frorn
material mlsstaternent, whether due to fraud or Error, and to Issue a Reportof the Independpnt Auditor5 that includes our
opinioiTr. Rea50nablt a$5urance Is a high level of assurance, but is noi è guaraniee that an audit conducted In accordance
wilh ISAS IUKI will always detea a materièl Missi3￿ment when11 exists. mI￿latementS can arlse From fraud or erfor and
arE cgnsidEred material If. iivjividually or in the aggregate, they could rea5aDably be expE(ted to influeDie the ￿9￿0M1
decisions of users taken ¢n the baslsof these financial 5tatetnents
IrreEulanties, iftcludirng froud, ore Instances of non-compliantr with laws and iegulaiions. We design proCed￿re5 In line
with our re5PDnsibilitie5, Outlined abDve. to detect materlal misstatenieTrts In respect of irregul6ritiEs, includin8 fraud. The
extent to whith Dur procedures are Capable of detectln8 Irre6ularities, includlngltaud is detsiled below.-
Based t)Uf undpTStandin8 of the entity ènd industries in wh￿h it tsperdte5. WE Ideniifsed the prindpal rSsks of pon-
compllance with laws and regulatlons related to the appllcation of charitable funds and data protection. We a150
considered those law5 and re8￿￿tionS that have a d1￿ct impact on the preparation of the financial 51atefftents such 3sthe
Chantie5 Act 2011.
We a55255ed the susceptibility ol the rharity's financial statement5 t¢ mateFial mi5Statement and how traud might gccur,
ntluding throtsgh di5CU55ions with the diitctors, dlscu55iOnS Wlthin our audit team planning meeting, updating eur record
of Inrernal controls, and ensuring these contro15 operated as Intended. We deiermined rhe principal T15k5 were related tv
P05ting journal entrie5 to manipulate protit5, and management bia5 in accounting Estimate5. e5petiall¥ aitrbEd artd
deferred Income.
Toaddpess the risk of fraud through management bias and ovÈrrTde otcontrDIs, we..
Performed analytical procedure5 to Identify any unusual or unexpected relationship5
IdenEifiEd and tested journal entTie5 knd IdEntified any 51Énificant transactions rhat werE unu5val or outslde the normal
cwrse of bt4s1nes5
Investigated the r3tionale behind Signif￿￿Trt or unusual transactions.
Challenged assumptions and judeements made by management In determining slgnili£ant accounting estlmates, in
partlcular in relotlon to accrued and deferred Income.
In response tp the risk al irregularities and non-complianc2 with laws and re6ulattiJns, we de518ned audit procedvres
whlch included, but were nul limited to..
Agreeing fiThanThal staternents di5clo5ure5 tTr ul￿erIy1DE SUPPOrtin8 docurnentatton.
Di5CU5slons with management of known or suspected iD5tancEs of ntrD-compliènt* with laws3nd regulatH)ns.
Reading the minutes of rneetinES of those charged with governance_
Reviewing correspondence wrth ielevant regulators as appropriate.
At the completlon stage of the audit, the engagement partner's revlew induded ensuffQE that ihe team h3d approached
thelr work with approprfate prnfw510nal sceptlci5m and thus the capacny tc Identlfy non<ornpllanEÈ wf(h law5 and
regulations and fraud.
There are inherent limilat￿n5 In rhe aud5t procedtsres described above and the further removed non-compliance of laws
and regulations 15 frorn the event5 and traDsacLltins reflected In the linancial 5tatement$, Ihe le55 likely we would t￿[0￿£
awère of It, Also, the f45k of ntri detectins a mèteFial mi5Stalpment rElaling to fraud is highèr than the risk of not detectirl8
one iesultinÉ fiom error, as fraud may Involve deliberate contralment.
A further descflPtiTrn ol our re5POD5ibilitie5 for the audit of the financial statemEnt5 15 located on the Financial RepDftini
Counc41's 5vebsitt ai www.IrE.org.uk/auditur5re5pun5ibilitie5. This des¢Tiption forms part ol wr Report of the Independent
AuditLirs.
34

The Swiety of Dyer5 & Colourists ISOCI
Yearended 31 December 2024
Indèpendeni Audiior's Report to the Trustees of The Society of Dryers & Co￿￿rIS￿ ISDC)
Use of our report
Thi5 report Is rnade solely to the charity's trust￿, as a body. in accordance with Part 4 of the Chèrities IAccounis and
Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might 5rare to the charity's trustees those
matters we are required to state to them in an audiiors. report and for no other purpose. To the fullest Extent permitted
by law, we do not accept or assume responsibility to anyone other than the charity and the charity'5 trustee5 as a body,
for our audit worl for this report, or lor the opinions we have formed.
Thomas Coombs Limited
Statutory Audilor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshife
LS15 8Z8
Date.. 14th May 2025
35

The Society ot Dyers & Colourists ISDCI
Yeèr ended 31 DeLember 2024
Con501idated Statement ol Financial Attiwties for the year ended 31 DEcember 2024
(including IncoFTre and E¥penditure Actountl
Permanent
endowment
tuDds
2024
Total
Funds
202J
Totsl
Fund5
Unr95tfi<ted
fvnd$
Restri[￿d
funds
Revaluation
seThte
Notes
lllcome From..
DonatlQn5
haritablÈ activities
Other trading attivities
nvestment5
Other incorne
Tc+tal Incvmt
1,680
146.769
7.058,200
174,505
6,900
7,398,054
1.680
146.769
7,068,200
174,505
6,900
7,398,054
22,OilJ
118,144
6.100,943
225,772
9,598
6,476A57
Expend￿￿re on:
Raising funds
Charitable 3ctivitie5
Taxatio
Total Expenditure
5,829,175
1,085,451
182,827
7097A53
5.829,175
1,096,044
182,827
7.108.046
4.962,125
881,927
222,857
6,066,909
10.593
li
93
Net gainsllosses on inve5tment5
Gains/Losses on revaluation ol fixed
assets
Net rn¢orne forthe year
12
44.507
44.507
41.348
17
6.000
456,896
3WJ,601
110,S931
44,507
334,515
Transfers between funds
Net Movement In fvnd5
26
3(￿.601
110,5931
44.507
334,515
456,896
Re<ontiliatlon of funds:
Total funds brou8htfoYward at I
January 2014
26
9.751,988
17.501
223.685
IQ,OZl,215
9.564.319
Totsl fund5 ¢atried forward at31
December 20Z4
26
10,052.589
17A48
268.192
10,355,730
10,021,215
All amounts relate to £ontinuinB operations. The con501idated statement of financial activities in£ludes all 8ains losses Teio¥ni5ed in the year.
The r￿te5 paEe$ 41 to 61 forrn part of these financial Stat￿ents.
36

The Sociery of Dyers & Colourists ISDC
Year ended 31 Decernber 2024
C*)arity Staternent of Thnantial Activitle5 for the year ended 310eLernber 2024
(including Income and Expenditure Acrtsuntl
Permanent
endowment
lunds
2024
Total
Funds
2013
Totsl
Funds
Unre5trlcted
lund5
Restrlrted
lunds
Revaluatlon
reserye
Notes
Incc•me From.,
DDnations
Charitable actIV+￿e&
Investments
Other income
Total I￿￿rne
601,680
146,769
118,952
601,680
146,769
118,952
529,292
118,144
111,745
42,708
801,889
867MII
867,401
Expendlture on:
Raistng funds
105,50?
1,116,413
1,211.920
105,S07
1,127,006
1.232,511
Bl.239
874,640
955,879
10.593
10,593
Total Expenditure
Net galnsl1o￿es on Investmenrs
G3insltosses on revaluatKJn of fixed
assets
12
44,507
44,507
41.348
17
6.000
1106.642
Net Income fortheyear
1354,5191
110.5931
44.507
1320.6051
Transfer5 between fund5
et Movement in fvnds
1354,5191
110.5931
44.507
1320.6051
1106,6421
Reconclllatlon of fvnds:
Total funds brought forward at I
January 2024
26
2,586.￿3
28.041
17501
123.685
2.855.310
2,961.952
Totsl lunds (attled Iiywaid at 31
December 2024
26
2231￿64
17,448
17.501
268,192
2.534,705
2,855,310
All amounts relate io continuing operarions. The consolioated stateTnent of financial attivities incluLle5 all gains and10sses reco8nised in the year.
The nores on page5 41 to 61 form parr of rhese financial statements.
37

The Society of Dyer5 & Colourlsts1SOCI
Year ended 31 Decernber 2024
Consolidaied 8èlance Sheet a5 at 31 Oecembw 2024
ZOZ4
2023
Notes
Fixed Assets
Intangible Assets
Tangible A55et5
Heritage Assets
Investrnents
Investfflefit Pioperty
15
16
31,129
3,710,499
63,500
913,435
320,866
5,039,429
43,645
3.322.493
63,500
975,697
320,866
4,726,201
17
18
19
Current Assets
Stock
Debtor5
Cash at bank and in hand
20
21
2,762,698
1,768,081
2.677,972
7,208,751
2,496,222
1.284,076
3,433,387
7,213.685
Llablllties
Credfjtors.. amounts lailing due wlthin one year
Net current assets
Tot31 assets less current liabllltles
Crediiors.. amounts falling due aftef more than
one year
rovlslorts for Ilatslllties
Deferred tax
Total A55qts
22
11.118,7821
11,101,631>
6.089,969
11.129.398
6,112,054
10,838,255
23
1564,6831
1626,4261
25
1208,9851
10,3SS,730
1190,6141
lo￿21,215
The funds of the tharlty:
UnrÈstricted funds
AccLtrnulated fund
Funds retained in SDC EnteTprise5 Grotjp
Designated Funds
Revaluation reserve
Total Un￿5111<ted lunds
26
1,956,869
7,821,0
274,695
268.192
10,320.781
2,180,70G
7,165.905
405,377
223,685
9,975,673
Restricted fvnds
PerTnanent endowment funds
17,448
17,501
34,949
28.041
17,501
45.542
Total Charity Funds
10,355.730
lQ,021,215
The flnanc$41 ststements were authorised for issue and signed on behalf of the SocseEV'S Board on 24 April 2025.
Lewi5
Chalr of 5txl¢ty's Board
M Catterall
Honorary Tre3$11rei
V Cheun8
Honorary Secretary
G Clayton
CEO
The noies on page5 41 to 61 Form pan of these financial statements.
38

The Society ol Dyers & Colour(sts ISDCI
Year ended 31 De£ernber 2024
Charity Balance Sheet as at 32 December 2024
2024
2023
Notes
Flxed A55ets
Intangible A55ets
Tan8ible A55et5
Heiiiage Assets
Investments
Investment Pfopertv
15
16
17
18
10,024
722,335
63,500
1,359,134
320,866
20.056
713,377
63,500
1,421,396
320,866
2,475,859
2,539,195
Current Assets
Stock
Debtors
Cash al bank and In hand
20
21
5.606
131,132
78.119
214,857
4,257
158,244
260,502
423,003
Uabllitles
Creditors.. amounts failing d￿e withln one year
Net Currenl assets
Net Assets
22
1156,0111
1106,8881
58,846
2.534.705
316,115
2.85S.310
The funds of the charFty:
Unrestricted fund5
Ac¢umulated fund
Designated funds
Revaluation reserve
Total unrestricted funds
26
1,956,869
274,695
268.192
2,499,756
2.180,706
405,377
223,685
2,809.768
Restricted funds
Permanent endowment funds
17,448
1?,501
34,949
28.041
17.501
45,542
Totsl Charfty Fund5
2,534,705
2.855,310
The financial statements were èuthori5ed for i55ue and si8ned on behalf of the Society's Board on 24 April 2025.
Lewts
thalr of Sodety's Board
M Catter311
onorary Treasurer
V Cheung
Honorary Secretary
G Clayton
CEO
The notes on pages 41 to 61 Iorffl part ol these financi31 statements.
39

The Society ol Jyers & Colourisls150CI
Year ended 3L Decelnber 2024
Consolidated Sl)iement ol Cash Flows for the year efided 31 Decernber 2024
Reconclllatlon of net Income to net cash Ilow from operatlng aclivlties
Group
2024
Total funds
20Z3
Total Funds
Nei income lor the reptsrting period las per the Statement ol financial acliyitiesl
Adjustment5 for,.
Revaluation of fixed a55ets
Revaluation of investment propertv
Gainsl1055e51 on inwestments
IProfitllLoss on disposal of fixed assets
Finance income
Tax expense
Tax paid
Amortisation
Depreciation charge
Decreasellin£rea5el in siocks
Decre35elllncreasel in debtors
IDecreasel/increase in creditors
Net rash pro¥lded (used Inl Oper￿￿8 artlvltles
334.515
456,896
128,0001
144,5071
141,3481
176,2511
182,827
1183,2431
12,516
12S,580
1266.4761
1484,0051
35,462
1363,5821
168,7691
222.857
1234,2201
11.269
123,845
1494,9911
247.813
83,892
279.244
Cash nows from Investlng actlvStles'.
Purchase of property, plant and equipment
Purchase of +ntangible a55ets
Proceeds from the sale of investmeThts
Purchase of subsidiary
Cash acquired in purchase of subsidi3ry
Proceed5 from the sale ol fixed assets
Purch35e of inve5tment5
Purchase of investment property
Interest received
Movement In cash held w+thin investments
Net tash provlded by lused In) In¥estlng actlvltle5
1513,5861
1241,9921
378,307
IS6.103
1432,6991
343.101
1271.9551
1147,6811
1280,9421
68.769
12,1341
1537,4751
76,2SI
417
1330.S661
Cash flows from flnanclng athfvltles.,
Repayments of loans
Net cash prfjvlded by lused in finan¢in8 0atvltie51
161,2671
161,2671
158,8361
158,8361
Ch•n8e In cash and Cash equl¥alents In the reporfnÉ perlod
1755.4151
1317,0671
Cash and cash equNalents atth• be8lnnln8 Df the reporting period
3,433.387
3,750,454
Cash and cash equivalents atthe end of the reportlng perl¢>d
2,677.972
3A33,387
The notes on pa8es 41 to 61 fofm part ol these financi31 statements.
40

SDr+eyolDyv5& Cglow15tslSiJCI
YearEThtted 11 )E￿￿￿trI024
Notes tothe F￿*￿Ié1 5tatemEDts
Tho 5Ddety ol Dyer5 & CDIoufiSt 15 a charirable btsdy, intorpoiiiÈ*l by Royal Chartet IRCDfi15761 wilh the &D¥èrnSn8 dat￿ments bein& ihe Royal
Chartetr119631, wfih Amendments, By-lèw$120091 and Rtsle$12011 2014, 2015, 2017. 2018 and 2019 as amendedl. The address ol ihe reglstered
office IS shown in the Trbstees, Annual Repttrt The th3iuiÈ of thÈ group's OK*fètiOnS and it5 Plifitipal attI￿lIeS ale outllTrÈd in the TrustÈes'AnnJal
Report.Thepr¢senlaknonal¢itirency is steillngand amouvtsère i¢)undedto the neaYes1 **oJe E.
Ba515 of wtparnllon
The flnan¢131 *tat¢ments have beEn piepaied under tht h15toncal cost eoAvenbon, wilth Item5 t¢c¢Étyised at C051 ￿ irnnsatt1Dn valffts unless
Drherwise 51altd in Ilie relevant note lo these arcoun15. The fin4ncial 5taipment5 haye been prepèred in 3ccordatte with the 5tatEmeni of
ftecommended Prattice AccouDtivg and RepDrtiqg by Charities, preparing iheiT af£QUn15 ￿ accordancÈ wilh th¢ Financial PeportlnE Standard
applicable In the UKanO Bepubii¢of IrÈland IFRS 1021 andthe ChariiiL% Act 201L
The charity meetstte defiThltK)n ot3 pu￿￿Cb￿nèfi1en1ItyaSdefined by FR5 IDI.
The rru51ee5con5ideT thai there are noi material vncwtsintiesaknut LheEharitY'sability tocontinue 35a goin&ccncern.
The preparabw olfinantial statements in eompl*anLtwith FRS 102 reqvire5 the u5eoFcèrtaiTr critKal atcDuniingestimaies. tt also rpgMires8roup
na8emefittu exorci5ejud8¢tnent in applying the group'5 accowtlifi8 palirie5.
The 5ignificanl 3¢COUlltlnE ptrIIcie5 applied In the prepaTatbn OF Ihe5e finènclal statements are set otsr belnw. These polkies have i)een
IOllS15teniiv appll£d to all yeaFS presented unte55 OthErw15e 5tsted.
Basls ol<onsoldatlon
The IT￿P finanual sialemenls consolidate the actounts of the ol Oyprs and Colouiistsand rtSSubsldiarle53ccouals on a Ilne by Mne ba45.
Transartions ￿tween the Eroup compamie5 are eliminatedon consolidatlon.
The consolidated financial.statements Include the financhil stHternents of the charity and Its subsiifiary undertakiDg5 made up tD 41 OpcernbEF
2D24. The acqui511ion5 Mhcd ol acEounring h35 been adopted. Llnder thi5 method the group nei incoming ie50urce5 include thE results DI
5ub5idiarie5 froffl ihe d3Le of acquisition and lothe dateol Sale outside the 8roup In casE oldi5posalsand svb51dialle5. The purch#5EconsideraiiOn
ha5 teen èllocaied tc Iheasset5and liabllllie5 on the basis of lair value at thÈdète of acq>lsiliOn.
Fund a<rouffltkn8
rund held bythe ¢bat14yaie'.
• UDre5tricted fvnds- these are &eneral funds ¥vhkh can be ￿￿ed In accordance with the tharila￿e obiectiyes at the di5tte15Dn of tk
IIu5tee5. IndLh#ed in unrestricted funds ale certaln des16n3ted funds set aside ￿ the iru5zees for sperilic purposE5.
Rpstricied fund5 these 8rE lund5 thai cafj unly be used IDI particular re511irted purp05E5 within IhE otyjerts ol thè rhèritv.
Re51iiction5 ar15e when specified by the donororwxen funds are ra15ed loi particular restrided puiposes.
Pèrmanent endowment funds- the%e iepre5ent Ihe fixèd asset Investmeniswhicb must ￿ held permanently bythe chailty.
The objectlvesDf ihev3f&DUS designaied, restritted and pernianenr eThlowmeM fundsare set our in note 26.
41

Th•5ot4ety ol LWw5& CglouFlsts150C)
Yearended 31 Deceinber 1024
Notesto the Fiff8ndal 5t4tenieiitsl<wt4nuBdl
IDcorne
A11 Income frfjm mefftbefthlp subscftpfions. donaiion5. cnafltaèlearti¥ilie5. Income Ir¢m olherirnains artlYille5, Investmenr gOvÈiftmem
and c¥piial grafits. •re iD¢luded In IhEStaiemEnl of Acti￿11*$ when the SDCis enritied tothe incomo and the amount tan bequaniifjed
with rea50nablè atturary.
Investment Income and gèinslllossesl are allocated tothe èppropriate fund5.
IncDmE Irvrnthe Sale ot8vpds is Te(o8Tri5ed Vlhen all of the loiiowlnB ionrSilion5 are 5atI5fYed.'
• the groupha51rafisfeired Ihe 5l8nificanl risks and rewards ol ownership to the ￿Yer.,
• the Bioupreiains nEilher rontlnuing fflaD8Eeri¥l invoP*ment roihe d¥Fee u5ualty3550tlaled w
the amount of fevenue be measured reliably..
the c05t5 incuried orto be in(uired In respect oFlhe transaction £8n be measured rEliabfyi.
flald I￿Orne
Taxable proti15 Iraty5ferred from ihe5ubsyjiar￿5 are recoÉDi5edasdonation5when the5ubsidiary ha5 made an
lifevocable CDmmltment to thÈchariiyto pay theGIft Aid donation.
DurinBthe year the charlty has received Gift A￿d frOm￿jb51dlarlQ5 01£6fo.ooo12023. £507.2921.
Expendlture
• Raising fund5.' The fo￿lOw1n¥ activitiE5- Iradinz £0st5 of the 5ub5idiary, car park lease, ro%t OF managing invesimeni$ 3nd general
marketin8- are fDf the PUiPD5e of r31singfund5
Charitable a￿l¥ll1eS.' Th￿fOllOWin8 actiVllies- colouT expErience. membership and qualifications, publications. iechnlcal. the dayt4
day running cf the SDC con5isiing ol siafF and admiThistralivn cosis- are of Charitab￿ n3tuie and are provided tw the benefii ol
mernbEt5 the 8ener31 public.
* Gowernan¢è Costs Include the day to day 8o¥ernance rwnln8 of tbe SDC Con￿￿ting ol adminlstration costs Includin8 audii athj
other protess￿n31 cosis, trustee travel. rrninin8.meetlnEs andexdude5 any (osr5runniThg fursds.
All ie50ur<eseNpended areon an atcrual ba￿$.
Gran15 payable arethar8È0 In Year when Iheoffetis ¢tsnyeyed to fhÉ re(ipieni
Support wsrsand overheadsare allooied In IlTrtWlihthe re￿Vant per£enlage of IntornerecelvBbleforthat related activity.
Tiading expenses lie those of the charity's wholly owned subsidiary and not Incluoe ary ul tharity'5 ovethead$ Support tDsts are IhD5e OF
managingand admin15terinsthe 5DC and rewesent expense5 Incvrred attributable tc the maDa8ernent of charity'5 a55et5.
Tanslble fixed a￿t$anddEpreC1a*lOn.heIrt￿t ￿￿1 le55&preclatlon.
Depreciatlon 15 prowded to wiite thQ C051 or Valuation, le$5 Eslimaled residual WJlue5. 01 all the fixed a5sÈts e%eept freettold lan(t. over their
expEcted usElul lives.11 iscalculaled on the fdlowing rate5'.
FfeEhold pioperty
FreehDld13nd
Plani & rnathinery
FuFnishing andgener31 eqvipmtTrL
Leasehold improvements
5%straight lkne
nvt Jeprec1atEd
15%-33.3% 5trai8ht line
LS%- 33.3% 5traighl line
overtheteim ofthe lease
l*we5tment propertv
In¥Eslrne￿t prDpeily is ¢•rrhd al fair value. derived from Ihp ￿[re￿I mafkE¢ wce5 foF tomparntrAt teal estsié determlned amually. Valuaiions
ale based on Dbsertrable maik* priie5, adiusied if nece553ry foi any diffprenre in ihe nature. lo¢ali￿ oi tondiiknn of ltte speclfic assei. Changes
in fair ¥alue are recognised in ¢he Incomeand exp2ftditure acwuni.
42

T￿esar￿￿tyUf ColuurlStslSDa
Yearendpd 31 0￿*mbEr Z024
otes tv the Finan¢ial 5tsternEDls lcontlnuedl
8ulldih¢re¥aluati•rt- InwstmÈnt Properry Hnd fvèehold Property
The b351s ot bullding revalu3llDn was Marketllblue with vacant possession and eX15tin8￿5e. Re¥aluatlOll 15 FesfortnEd ltsaccordancewilh the RIC5
Valuatlon - Pfole55ional Standards January 2014 Edltlon Ithe 'Red Book I, where apPbca￿e having duo reBard to the Practice Siaiemen15 an
Gbidan¢e Notes thereill for v31uations of this nèiure.
Investment propEfty is carried at fail value deiE¢mined annubll¥ ￿ external valuer5 aTrd deTived from the currtllt market rents and in¥estment
properly yield5 foF c(￿parable ieal esiaie. adjusted il nece55ary lof any thfferen￿ ID ihe naluie, lo￿110￿ 01 t¢ndlli¢n of the spetifjt asseL Ilo
depfecwtM)n 15 provided. Change5 In lair value ale recoshi&2d In Ihe Cons￿l￿aled5Ia(effjent Df CoMpFehen￿ve Incotne.
Mhedt
A lud8efflent has been made to spllt ihe oropertyyalue beiween Invesrment property and frèEhold property tsa5ed upon the used tsy theGroup
compared to ¢he area rented t￿tr￿al￿.
HErftaEe a5Stts
Heritage as5e15 &re initioTry fecoinised at cost and carried at hi5tQriC41 cust subjECt to any depreciation orimpalrment. Thechariiv adopted a
poIKY ol valuation.
Flxed355et ￿n￿StMents
5red Investments ale siaied at Investments In equiry shai@s whlch a¢e publlcty tratled Dr where tr* lajr value caTr be measured rESiably are
initially rnpèsuied at 1311 value, With chan8tr5 In fair value recognised in profit Oi loss. Invtsiments In Pquify shales whith are not publicty tiaded
and where f01r￿Je£anDot be mea5UTed fell3èlyare measured at CQs1 less IM￿lm)ert
Interest income on debt 5e¢ufities, wherE applicawe, i5 ieco8Tri5ed in inroThe using the eflEthve Inte￿$1 mohod. Dlvldend5 on equity 5￿UrIt
are reco8nisEIJ In Incomewhen re¢￿￿8￿1E
The iDvEsimer*l in ihe 5DC's Lradlngsubstdi*¥i 5DC Eniefpfises Umiied. is stsied èt cost, ￿ProvIs￿n for impèirrnent.
Sto(k
Stocks ale 5ts1ed at the bwer of cost and e5tlmared sellin8 Price less costs io cornplete and SEII. Cost15 determi*ed u51nB the firsi.1n, llist.otst
IFIFOI method. Work in wogres5 and finlsheo gaods Include labour and aitritsutableoverhead5.
Thè t05t of finished gJtyd5 work in pro8rè55 eompnse5 direct matÈrials and. where appllcable. direct labour cosr5 ènd those o¥erhe3ds Ihèi
have been incvired brinBin8th2 In¥enEDiles to Ih21F present IIKalion and condition. 11 Each rRpDrtin¥ date. sluck5atP aS%e5sed Ioi Impairmeni
115fDck5 are 1mpaired. the carrying amount Is reduced to It5 selling price les5 Costs tu COM￿￿te and sell.. Ihe impairmenÈ Ioss 15 reco8ni5ed
imrnediately in piofiior1055
Oebtorsand uedltors re(efvablel payablÈwlthlnoTrÈye3r
Oebtor5 and crediiois with no siored inieFest rate aDd iecelvable or pIya￿&￿Ilhl￿ one year are rewdÈO at vans3ttion prlce. Any10sse5 ar151n8
from impairmenrare rEccgni5ed In expenditure.
1Trtsfj8llA4ass*ts
Goodwill represents the thIHeren¢e between amounts wid on the u5t of a bu51nE55 cornbination and the acquirer'5 intErest in tho lair ¥alue ol
tTrPa5ured èi tosi less attumulatfd amrtisatlDn a¢cvmul4ivd itnpairtnent low. Gotsdwill is amoitised ON a 51raighl-line bas15 to ihe
con501id6i¢d siaiemenrof romprehen5iYe inrome over Its Useful economic Ilte IUEII- Trnsteu h3we asS￿Se& the UELof goodwilltobe 5years.
Afflortisatir*ts Is provlded on Int3n8iblefixed a14ets so As to wrllt off th￿ cosl less 3ny È%Miated residual ¥alut over th￿¢ expeLtEd ts5eful life 05
Website Development
Loan5 and tsoirDwin85 are inltiall¥ reto8ni5ed ai thE iransaciion price Including transaciion CQSES. Subsequpnlly. Ihey aTe measured ai amortisEd
cost usingtheeffertlve irteresi raie method, less Impailmeni. If an arran8ementcon5tiiuie5 3 financelr3n5octi￿ll Ts rneasured at pie5eni Value.
43

The 5ot4etyvf wws& ¢ol&urlEtslSOCI
y￿r eDdeol 31 DErefflber2D24
Provisions are recognised when theclTrarity obliEaiion atthe Dalance 5neei oaieasa r￿Ul1 oFa wtevtlli. it Is prOba￿e th* an outfl¢w•l
ecpTroMlc benefits wlll befequiFed1Tr 5ertlempnt the amouTrl can bEreliablye5timated.
Leas¢s
Leases in which 5ubsiantiall¥ all the risks rwwafds ol owneiship afe retained bv the lessoi are ¢l?SSified 35 opeF311ns1235es. P3yrnents made
under OPPfaiillg leasE5 are thaiged 10 artd experndituiÈ atcounl Ofi a stiai8ht.llne basis ovef Ihe period of the lease. Leases are Llassified
as finan￿ lease5whene¥Erthe ie¥rDs olthelea5etOll5fer substantlollyall the risks vewarlls olowr*ishlp Ioihe lessee.
A55e15 held under finance le¥se5 are recogni5ed ai the lower ol their tsir v4luE at In￿ptIon of the lease the present value of the minlmum
lease payment5. Thos* asgets ale depretiated on a siraiBhl-IIDe b8gls over Ihe shorter of the useful Ilfe of the 3sset and the lease term. The
TfespDnding1iabllrty lothe le550r i& inilulled in the 8&8nie She& a5 a finan￿ le35e Dbli8ation.
Le35e payments arè apportloned betweeTr finènre costs In the Income and expendlture account 3nd reducllon of the lea&e DbllB•tlon 50 a5 to
a¢hiewe a Constanl periodic rate ol Inierest on the remaSnln4 balanceol the liabililv.
FDrel￿(￿rru(¥
Fure￿n iurreTrcy Ir3Dsartions ère inlti311y tetognisÈd by applyln8 to the forÈign £brren¢y amount Ihe 5POtexchange iBte between the lunctkinal
cwrency andthe for¢lgn C￿llenCy at the date Of thEtfansaLiion.
m￿etary a5set5 amd liawlbliesdenominated In a lo￿l8n cvrreDLY at the balanceshew date are trnn4ated u5in8 thedosingrate.
Pen51on ro5ts
A definÈd contribution plan is a pension plan under which fixed contTibutioll5 are paid inia a w5ion IullLI the charitable cornpany has nD
IE831 or construtiive obliKation io pay Iuflhel Coniritsutions e¥eD If the luné doe5 not huld %uffioETht asset5 to pay all empltyees the tenefit5
ielatlngio Èmployee seThice inthe currentand piiorperiods.
Contiibulions lo defined ronlrtbutioh plan5 are iecvEll15Ed as eThplD¥ee btnefit expense when they ale due. It coniributlon payments e￿eed the
contrlbution due foT SErvtte, the excEs515 recognised a5a prep)ymeM.
Rtsearth and de¥elopments
AesÈ3rth and dÈ¥eloprnent costsare wiiiten off lo the piofii and ID55 aCCo￿niw￿en incuried.
Tax. ChJrfty
The chality Is an exempl charity wtthin the rneanln8 Df Schedu￿ 3 01 thE Charitbe5 Act 2011 15 c¢nslderpd lo pass the iesrs out in
Par31raph 15chedule 6 FinanceAct 2010 and iherefoie it rneetsthe definiiion ol a charita￿e Eompany loi UK corporation tai puiposes.
T￿-TradIng5Yb$1￿Iar1¢s
ThÈ lax Èxpense Ior tle perlDd comprlses current and deleired rax.Tax15 reca6nls¥d in profit or Ios5. except th?1 a rhall8È attribuiableto an item
of Inujme orexfensp ieco8nised as othei Comprehen￿Ve incomeisalso reC￿nise{l directly ifi other COrnPfehen5iyp infDThe.
Thp (Ufrenf Corporatbon tax charge Is calculated on basls of tèx rates and lèws that havt been en3Cted or Stsb5tantwely Enacted by the
reporiifiE dale in Ih&£ountrieswhere the company opeiate$ and genttates iaxJble IncomE,
Oeferred taxis Itcognised In iespect Qf all tirnln8dlfferews between iaxbble pronisand piofits reported ID thp finanEsal Statements.
GJln8toThtem
The financial 5talement5 beEn pfEpaied on a eoin8 i¢ncerTr ba51S a5 the tru5fee5 believe rhtl no mateflal un¢ertainrte5 ￿5t. The twstees
have considered the level of funds held ihe eyperted level DI income ¥Dd ÈKpendliure lor 12 months from the date of a￿thOrI&Sn8 ihÈse
rinancial statements. ThèLwd8ered inLvme expEndllure 15 5uffkie•t wSlh the level olos•rve% forthe thaity to be ablè to mntIn￿a$4 ￿ing
¢on¢ern.
50urresoFe5tlmalioTr uncert•lnty
The kev a5stsmption5 concerninÉ the future and other key souices of esiiryKtion uncertainly at the reporting dale ihat have a significant 115kof
causiw a ￿￿le[la1 idjustmenito the carfOngarnountsol3sset53nd ILqbilitieswiLhiil Ihe nexi nnancial ye31 Include.,

ThESucler¥ ofoyerts • thlpur55rs ISDq
YEar endèd 310ecember1024
riotes ro ihe FIDanciai ststementsltoTrtlnued
Llsefvl ewnornicll¥es•ltan8lble assets
The annual depr￿latIon Ehafge lor tafj8lble assets their ca￿1￿8 èmounl 15 determined by the tslimated useful etonorn￿ Ilv&s and resldual
value DI the assets. The useful ec¢noTni¢ live5 and Tesidual values are rE.a55e55ed annual￿ and amended when nece55aFY to rElleci current
estimates, based on technolo8lcal ad￿ncerne￿r. fulufe Inve5trnEn15, eionDrniI Utili5ation and the phy51cal CDnditlDn of the ass*. The carryi￿%
amouni is £3,710,499120￿4532I.493).
St￿1 prtsvlslo
The gfOUP rnake5 an 25timat2 01 the reco¥erability of the c05t ol sloth. When calculating the 510ck yovlsion, mafiagernent conSidei the nature
and condition ot thE siod¢, as well as 3ppl¥in8 èssumptlons oround anticipated 5aleablltt¥ of Nnlshed goods. The r4rryln8 amoynt 15 U,762.698
12023-£I496,2271
JmpalrmEnt pf dtbttj
The Eroup makès an est￿Mate of ihf re(¢¥etablE ¥olue ¢1 irade ahd DlheT debiofs When 05se55ing the ￿Mpo1￿MEnt ol trade other dEbtDfs
managemeni ctsnsiders factors which IncitsdE IhecutyeDt credit ntint of the ￿ebtor, the ègEIDg proftieof tlebtors and h15torital exper￿en[£. T
cal￿n8 amount Is El.76E,OBI11023- £J.284.0761.
Business comèinaiioD5 are acwunted lor usin8 ihe p4i<hase meLhod. Ihe coosideration fgi eath atqvisitlon Is mèasured ar ¢he a8gre8aie ol Ihe
fair v31ues at WUlSition date of èssd$ 8i¥en. liabilitie5 incurred or a$5umed, ahd equity inrtrument5 155UEd by the EIDUP in exth•n8e fDrronirol
ol ttte acq￿{red, plu5 any cost5 dlre¢tly artclbuiablÈ to Ihe bugness comb5￿4¢l0n. When a business combitlallon agrÈèment prD¥ides for an
adjustment to the c05t Of ile comblnation coniin8ent on fvtuie events, the gioup Includes Ihe estimated amoun¢ of that adjustment in Ihe cosi
ol the COM￿nall0n on ￿tUre events. the group inciuaes the estimated arnount of that odiustmeni In the w5t of tht combinaiion at Iht
acqbisillon daieilthe adjusLmenr is PfDbèble and can be mEasuied rdiablv,
Fèr*a*)dal Ir*trum4nts
aa51c financial assets. includiTr8 trade and othei rece￿bleS. are lryltially reccw¥nlsed ar trans3Ction price. the airan8emeni c<￿$t￿t￿leS
f(nJncing tran5aclK)n, where the tiansÈctloTh is mÈasuiÈd 31 the piesent Valuèof thÈ luturÈ te¢Èipt& discobnted at a market iète Of In￿rest lor a
similar asset. Such a55etS Bre sub5eouently carried at amoriised co%r ￿lIne1he efle£ti¥e inierest method.
At end of p.ach rppurtinE PErtDd financial a5seis measured at 3mDrtised cost arè Assessed for objectl¥e evidence of lfflpalrmenl. If an 355et Is
Impa1red the impairrnEnl1055 15 the difference between the caflying3mo￿ntantt thv present ¥alue ol ihe estimaiediash flows diSco￿nIed at Ihe
a55er's oriilha1 efFècrive Intwesi rate. The Impaiirneni Ios5 and any subsequent re¥er5a115 re¢o8nised In profit Dr1055.
Financial asset5 are dereco8nised when lal the contractual rLqhtstO Lfier3sh nows from thè assèt e*pire orare seitled, u Ibl substantially all the
115ks and rewards ol the ownershio ol Ihe assei ale transferTed 10 another party or Icl tontrol of the a5SEt has been iiènsfefred to anoiher paity
hD h35 Ihe piactical ability io unil3tetally sell the as*1 to an UnTela¢eo third pariysvilhoui Imposin83ddibonal restrictsons.
a51¢ fiAanubl li4bilitie5. iTh¢lud+nB trade other payables. ballk loans. loans from fellow group EofflpJnies aiml p￿terence shBres ihai aTe
classifled a5 dEbt. are Initially iecogn15ed at transaction pri￿, unle55 the arrangemeTrl constitute5 a Thnancing transaction, where the debt
tnstrume￿I 15 mea5ufEd al thEpre￿t wdlue Df the future recelpt5 dlscutrnted 013 rn3rkel rate of InterESt ￿ a slmllar debi Instrument.
Debt Instr￿mentS ale subsequentlycaryied atamort15ed wst, USlnBthe pffectiveiTrterestrate rnerhad.
Fln3ncki1113billtles3re derecognised when the liabililvise#tiniDished. thèt 15 V4heq the¢outrarttsal owikatlon 15 dischairted. fancelled or *vires,
45

The Sociery of Dyers & Colourisu ISOCI
VÈar ended 31 DÈcember 2024
Noieg to The Financial 5talemerit5 Icontinuedl
Inrome from donatlOnS
Group
2024
Charity
2024
2023
2023,
Gift5 and donation5
1,680
22,000
601.680
529,292
IntludÈd withln gSfts and donations is £Nil120Z3- ENill of restricted Incom¢
Income from tharhable artI¥it￿$
GTOUP
2024
Charity
2024
2023
2023
Day of Celebration
Sefninars and conferences
Books and publications..
Academic bDoks
Childrens
Coloration Technology
Tr3inin6
Membership subscriptions
UK Government grant5
Qualificètions
orher
2,085
37,115
3,536
10,873
2,085
37,115
3,536
10,873
1.882
7,126
33,001
25,090
38.578
709
4,340
31,891
25,6fi3
40,097
1,882
7,IZ6
33,001
25,090
38.578
709
4,34a
31,891
25,663
40,097
1.715
177
510
1.715
177
146.769
510
525
525
146,769
118,144
118,144
All incorne frorn charitable 3ttivTtIE5 Wa5 unre5trirted in the current and p￿CeLlIng year.
Afia1v5￿ of Income by adivity IGfPUP and Charity- current and previous year
2024
2023
Sefninar5 & conferences
Training
Qtsalifications
Education
37.115
25,Dg0
1.715
63.920
10,873
25,663
510
37,046
Day of celebration
Membershlp sUbsCr￿p1S0nS
Member5hlp
2.085
38,578
40,663
3,536
40,097
43,633
Books- Academic
OoDks- Childrens
Coloration technDlr)gy
Publlcations
1.882
7,126
33,001
42,009
709
4.340
31,891
36,940
UK Governfflent grants
Other
Other
177
177
525
525
Total
146,769
118,144
Intomefrom oiher tradlng a¢tfj¥ities
Group
2024
Charity
2024
2023
2023
Tradift8 income frorn subsidiaries
7,068.200
6,100.943
All incorne from other trading acti¥Atl& Wa5 unre5tricte(* in the current and precedin% year.
46

The Swerv gf D¥ef5 & ColouiistsisDCI
Year ended 31 0￿EMb￿r 2024
Nore> to Flnancial Statements It0ft￿TrUe#l
thciHne trpm In¥e5tmeJbts
Gioup
1024
Charlty
zo
2023
ReDlal Iniorne
Interest receivett
DlvldÈnds from Ilsted Invesmi&nts
73,153
76.￿1
25.101
I?4￿05
130.379
68.769
2S.6241
2Z5,772
91.471
8L741
3,380
26.624
111,745
25,101
118,952
AU incorne from ifflvestmentSWa5uwesiricted in the current and pre¢edlD£ yEar.
Gvoup
2024
Cbarfty
2014
2023
2023
cense fee reteived Trorn wb&diary
Government 8r4nis
Olhei Income Iwoffl subsidlane5
41708
3,698
6,9
9.598
2,70B
All othEr incorne was ynrestrKred in thecurr2J)¢ èrtd wpcedin8Year
Expend1￿re on ralsln8fvDds
Group
1024
1014
isourced 8ener•l rn3rkeDft8
Bradlord Council car p3rk lease
Inve5knentpmperty costs
Broker fees
TTrdin8 by 5ub5idiaiies
31￿88
4,550
63,267
5,802
5.723,668
5,829.175
28.474
.551
42A79
5,735
4,880,88S
4,96?.115
aL888
28.474
4,551
42.479
5.735
63.267
S,802
105,507
81,239
All expendlturÈ on ralsi*Rfund5 unfestncted In the cvNent and pretedinKye3r.
ExpenthturEon tharitab￿a<tivrt￿Es
Group
2014
tharlty
2024
2023
eooks- Chlldien5
ColoTrtion Techndogy
alific3tions tosts
Ttsining c05t5
Salary costs lirtlud+hg rEdunLlonrycostsi
TTrvel and subsistenie
Operabon31 costs Ilncludln8 propert¥Ca5ts1
Oepreciètion
Go¥ern3nce costs (Note JOI
Bur5ariE5 1 Awards
Seminar3nd conlerencecosts
Day of Celebrabon
Other5tX ComM￿ttee$
lttètovefable inptstVAT
PThis•on for the recovÈr3biiityof activlty and
conference costs
Dutsourced servlce costs..
Facllities rnana8ementser¥lce5
Eiternal aicountancy art4 consultsncy fEE5
General admin 5UPPOft
HR helpline seThices
BookkÈepin4 SeTr1￿4
Tre Coluuri5t
9,338
35,790
5,096
9.89V
),380
20,718
19B,d24
.961
61,682
14,722
106,075
17,969
950
49,837
9.338
35,790
S,096
30.576
4,788
4,615
378,IL4
16,S2J
163,767
25.704
56,357
IZ,559
31918
36.659
2.942
17,131
30,576
4,788
4,615
3?0,594
16,621
1&3,767
25,7ts1
56.357
12,559
32.918
36.659
425,559
20,71
198,4Z4
61,682
14,722
98.012
27.969
950
49.837
54.IJMJ
27.231
5,148
4,870
6,S91
4.679
39,124
28,8
1,095.044
ZO,124
5,737
6,302
3,89S
35.098
17,920
881,927
5,148
A,870
6,557
4,679
39.CIM
28.800
1.127,W6
ZO,124
5.570
6302
3.895
35.Dg9
17,920
874.640
47

rhÈ5oDeiv ol ￿er5& C￿0￿￿14ts<￿C>
Yebi enOe4 3E Deiembpr 2024
Npie% lothe Financial Sraiernehts IcantinUEO1
9 ExpÈndltute on (harkab￿ i(t4vjtiEs
Analy555 of expondlture byacll¥ly.
fjro¥pand thath¥-¢urrerty4ar
Support¢osts
siaffc05ts Shared rwts IGo4*mJncel
rertrosts
Totsl
SÈminars&ccnfer2nces
ID6,075
9,890
5,D56
121,06L
116,261
42.276
17.615
176,152
106,615
2S,DIS
10,891
142,S21
L8ft57
4,331
347,408
8L51Z
35.487
A64.4U7
24.673
Membership Management
of C4lebratiOn
ThE Colo￿liSt
Bwsarte513wgrdS
MembeFshlp
96,884
55,1S7
36.372
36,850
13.541
142.520
9,653
6297
6,379
2.344
24.673
162,294
105.868
197.259
39.415
414.836
27,969
28.800
14,722
71.491
35.13n
176.152
tywk5- Ai3dÈmlc
Books- Children5
010￿1100T￿ChTr￿lO9v
Pub]Kat￿n5
3.523
3.523
28.184
35.230
1,250
4,562
22.693
28,5D5
216
79D
3,928
4,934
4.989
18,?l3
90,595
113,797
9.338
3S.790
4S.128
Administrai4ve Kosu
52.846
42,756
7.402
103,CQ4
70
7,68
440.380
356.302
61.682
1,096,044
Grnypw￿ Charfty. prlor ¥wr
reaw5ts
Stsll¢o￿ts
SharÈd costs 5upwrt ¢P6ts
(GU￿rna￿e)
Totsl
4Z,32J
67.138
30.576
151,2SI
139,645
41.858
45,361
378,IlS
121,965
113.535
34,030
36.89)
307.420
22.543
20,814
6,233
6.762
56,357
339.080
341.l3Z
112.702
89,013
881,927
Membership and Qualrfirati¢ns
Administfatwe cost5
140.035
rotalexpendibjre on chaiitabk £i.og6,04412U23. £881,92710lwh1chEIO,59312023-£9.9511 wa5 vestrKted.
Expefiditbrefor 5taffios15.shared r05tsJnd 5UPPDrt costshas been apportionEd acr055charpia*lÈ aCtI￿tIeSa5foll0Ws.'
Educar47n
a0% I2023- 40%>
Mernber5hlpgnd Qualfficè110Tr5
40%12023- 36.yhl
8% IZP23- 11.1%1
12YA12023- I￿)
AdministTrtiYecost5
GoVerna￿e r05ts
Gmup
Chartty
20Z41
2923
cornmftrte meeiirt8s
Mi¥elkneDUS governance cost5
Legal le2sand Lfadernark proiettytyl
1.927
g.ILY&
16,481
1.029
2,799
14,795
2.5
2,IL
2.849
2.496
1,927
9,109
16,481
2.029
2,799
14.795
2.sro
IL
2.849
2.806
2,849
1,438
61,6a2
2.496
694
18.IK>2
1,963
4.175
15.448
18.iXJ2
1.963
4,173
IS,448
TNsites trtinin8
Auditors remuneraiion- auLSit fee5
Audito15 rernuneratiQTr- Psep8ratign ttf finanoal 5tatement5 2024
Audit4F5 remunertbon- PrÈparat￿n olfinancial 5talEmenis 2023
eènk thar8eS
Sub5criplion5& IKence5linc data proiȢtionl
Gran15 In 54PPOTt tsf SDC FÈ8IDns
NiÈdal% & p13uues
2,S12
3,687
225
?￿57
56.3S7
2,612
3,687
125
7.057
56.357
1.849
L438
61,682
48

The Society ol tTryerS & ColourisrslSDCI
Yeai ended 31 Deceinbei-2024
Noies to Ihe Financlal Statèment5 Icontinuedl
Taxatlolt
The rharity is exEmpi from tak on income and gains falling Wllhin section 505 of the Taxes Act 1988 or sertion 252 of the Taxation of Ch8r¥eablo
Gains Act 1992 to theexteni that theseafe applied to itschèritable objects.
Group
Charity
2024
2024
2023
2023
CorpoTat5on tox
Currenttax on profits for the ye8r
Adjustments in respect of previou5 peri￿&
Deferred tax
Ori8inaiion and fever5al of timing differences
AdjustmÈnts in respect of prior per￿OdS
Taxatlor*
181,514
117.0581
188,243
18,371
34,614
182,827
222,857
Fa¢tors affecting taxcharge forthe year
The tax a5sess2d for the year is lower than the standard rate DI corporation tax12023 - lower thanl in the LIK Of 25%12023- 25%>. The drflerences
are exp13ined below,.
2024
2023
iOZ4
2023
Proflt on taxable artwltles before tax
1.406,985
1,301,349
Profit on tèxgble activities multiplied Oy standard
r)te of corroration tax in the UK of 25%12022-19%1
Effects 01:
Expenses nor deductfblè for lax purpose5. Other than
goodwill amort15ation and impairment
351.746
325.337
453
929
Difference in ac£elerèted CA'S dueto qual dep'n
Effett of tax rate charges
Under/lovÈrl provision in prioryear
Other timing differences leadinÉ to an increase
Idecrea5EI in taxation
Super deduction diflerence
Distrlbutioo to pèrent made sn Aid
L05ses noi provided far
Goodwill amortisatloh
11,7991
1.073
117,0581
1,353
110.7621
12.2091
20,326
1461
1126,8231
15,982
311
1150.OL￿)
621
Cèpltal allowances on investrnent property add*tion5
13,7501
Total tax chargelorthe year
182,827
222.857
FartQf5 that may affert luture tajt tharges
There were no factors that may affect future ch3rg¢s.
Netlosses Investments
Group
Charhy
2024
zozj
2023
Realised gainsll1055esl
Unrealised gainslllossesl
Gainlllossl on revaluaison of investment propollv
44,507
41,348
44307
41,348
44,507
41.348
44,507
41.348
49

The Society ol Dyers & Cdouri5ts ISDCI
Yeaf encted 31 Decembei 2024
Noie5 to the Financial Slatements l£onrinuedl
Analysls otstaff costs, tFUStee remunerailon and expenses, and the ¢oSt of key manazement
Group
2024
Charity
2024
2023
2023
Salaries and wa8e5
Social security Costs
Pension costs
1,974,884
159,220
190,672
2,324,776
1.579,266
150.698
152,738
1,882,70?
358.545
34.017
32,997
425,559
316,154
23.723
31,117
370,994
The group paid f 27,111 12Q23 - £23,478> In ￿SpeCt of employer's life 3ssur3nce contribution5 and £10,248 12023 - EII,8801 in ￿SpeCt of
efnployer's prbvate medical rontributlons during the year. The ¢harity paid £4.228 12023 - £3,886) in respect of employer's IWe a55uranee
contributTons and E6,74412023 - £3,719) in respect of employer's private medic21 contribution5 during the year.
There w2re 3 employee5 of the group *lth employrnent beneffts in excess of £60,000120Z3 - 31.
Group
2024
ChaTIty
2024
No.
2023
No.
zoij
No.
Bands..
£190,001- E200,000
EIOO,(KII - £IIO,000
£90,001- £100.000
£60,001- E70.000
The number of siaff who received In excess of £60,000 to whom feiirement beneliTS are accruing under defined tontrlbutions scheme5 was 3
12023 31.
Group
2024
Charfty
2024
IOZ3
2023
Employer'5 pen510n contrubutions to delinEd
contribufion schemes in respect of the
Èmployees feceiving in excess of E60.000
72,014
72,014
55,464
55,464
16,979
16,979
16,094
16,094
The key rnanègemeni personnel of the group Include5 a director fmrn SDC EnterprisES, CEO of 5DC Charity and Deputy CEO ol Charity. The total
employment costs to the Sroup was £48D,84812023- £453,038>.
None of the Trusrees12023 None) have been paid any rernuneration or received any other benefits from the Charity. Durlng the year 5 Trustees
12023- 61 were relmbu￿ed for expenses incurreLI on behalf of thE Charity to the sum of £2.72112023- £1,784>. Ourin8 the year 8 TTU5tEe512023-
111 were invoiced for subscriptions totalling £92512023 - £5061. Ai the year end rhere wa5 £Nil due from Trusrees. at the prevK)us year end £Nil
was due IFOM Tru5te85.
J4.
Average ￿all numbefs
Group
20VS
Ch3rfty
2024
No.
zozj
IJ
No.
Charitable activitles
Manègement adrninistration
49
56
42
48

The Sociely of Dyer5 & Colourists15DCI
Year ended 31 December 2024
Notes to the Financial StatemÈnts Icontlnuedl
15.
Intangible a55ets
Goodwill
Website
Development
Total
Group
Cost
At l January 2024
Additions
As at 31 December 2024
233,831
30,083
263,914
233.831
30,083
263,914
Amortisation
At l January 2024
Charge for the year
As at 31 December2024
210,242
2,484
212,726
10,027
10,032
20,059
220,269
12,516
232,785
Net book value
As at 31 December 2024
As at 31 December 2023
21,105
23,589
10,024
20,056
31,129
43,645
Webslte
Development
Charlty
Cost
At l January 2024
Additions
As at 31 December 2024
30,083
30,083
Amortisation
At I january 2024
Charge for the year
As al 31 December 2024
10,027
10,032
20,059
Net bi>ok value
As at 31 December 2024
As at 31 December 2023
ID,024
20,056
51

Ihe Socieiy of Dyers & Colourists1SDCI
Year ended 31 0eiefnber2024
Motes 10 the Financial Statemenis Icontinuedl
16.
Ta￿lble fixed assets
Plant,
machinery
and
eq4Jlprnent
Leasehpld
Improvements
FreehDld
property
Total
Group Cost or revaluation
Cost at I lanuory 2024
Addit10fj5
Reclassification/iraftsfer
Disposa15
AcouirEd throu8h businESS cornbination
C05t ai 319ecember 2024
81.925
1511,31g
337,569
4,049,742
176,017
6.542.986
513,586
170,6101
170,6101
81,925
2,848,888
4,155,149
7,085.962
OEpreciètion at l January 2024
Chèrge Forihe year
Elirninated ort diswsa
Atquired through bu5ine55 combination
Depreciation at 31 December 2024
70,598
5,412
3,149,895
120,168
170,6101
3,320,493
125.580
170,6101
76,010
3,299,453
3,375.463
Net book value at 31 December 2024
Net book value 3131 De£ember 2023
5,915
11.327
2,848,888
2.511,319
855.696
799,847
3,710,499
3,322.493
Freehold property held by the charity was revalued in March 2025 by an external valuer, Thi5 wès conducted by Wolker Singleton Chartered
Surveyors, at open market value in accordance with RICS Valuatlon Practice STatements ol the laie5t edition of the ftICS V31uation Professiona
Standard5. Valuaiions are carrled out on the basis of M8rket Value 35 defined in Valuation Prattice 5t3temenis VPS 4.1.2.
Included within the book value of ltynd and tjtsildings of subsidiaries consolidated is £2,158,888 ifi ￿$pert of freÈhold land and buildingg. The
freehold property was valued at £I,5{K).￿o by Walker singleton on 27 Ortober 2020 on an open market bèsks. Since this date there have been
addltions to the freehold property at a C05t of £658,888.
The historic81 cost of the Ireehold property above 3t 31 December 2024 was £2J88.94512023 - £2,551,376),
Furnishlftgs
Thd
equipmertt
leasehold
Improvements
Freehold
prgperty
Ttstal
ChaFIty costor revzluat50
Cost al l January 2024
AdditlOnS
Trènsler from Invesiment propertv
Cost at 31 December 2024
45,439
690,IXIO
123.477
24,887
858,916
24,887
45,439
690,ODD
148,364
883,803
Depreciation at l January 2024
ChaT8e*or the year
Eliminated on revaluatlDn
Depreciation at 31 December 2024
45,439
ioo.ioo
15,929
145,539
15.929
45,439
116,029
161.468
Net book value at 31 DEcernber 2024
Ner book value at 31 Oecember 2023
690.000
690,000
32.335
23,377
7Z2,335
713.377
Fretrhold property was revalued in March 2025 by an external ¥aluer. This was conducted by Walker Singleton Chartered Surveyors. at open market
valuÈ in accordance with RICS ValuatioD Practice Statemenrs of the latest edition of the RICS Valuation Profe55ional Standards. Valuaiions are
carried out on the bas￿ ol Market Value 35 rjelined In Valuatlon Practice Statement5 VPS 4.1.2.
The historlcal cost of the freehold property above at 31 Decernbw 2024 was £653.99612023- É653996I.
52

The Society 91 Dyers & Coloupists ISDCI
Year eThdÈtt 31 Decernber 2024
Noie5 to Ehe f Inancial Statements l¢ontinuedl
17.
Herltage assets Group and charlty
Herlla¥e
ssets
Brought forward as ljanuary 2024
Additions
0i5P05815
flevaluètion
Carried farward 31 Decernbef 2024
63,500
63,5tN)
Nerltage as5els include 8 cdlection of hF5t¢vical artifacts held b¥the charity that have been donèted over the Y￿rs and acqu+red dating backto rhe
Incept￿On of the tharity.
Heritage 355ets were revalued in January 2024 by an exte¥nal valuer FDf iD5urance purw)ses. The valuation was conducted by Gary Don Auctioneers
nd V3luers.
Herlta8È a55*ts not been recoBnlsed In the balance Sheet
A collection of heritage 3ssets are not recognised In the balance sheet, information on their valuaiion is not available and such information canftot
be obtained at a c05t commensuraie with the benefit to the USEF5 of Ihe ac£oun15 and io the charity. These a55et5 include iiem5 of mu5eurn
exhibSts whlch a￿ uncat?loBued and would be extrefflely dlfficult io due tts the nature of the collection.
Ihvutmentj
Realisedl
Llnreallsed
galns
At31
December
At l January
2024
Addiiions
Isposa15
2024
Market value
Quoted investmentsat mèrket value
Cash
966,999
8,698
975,697
271,955
1378,3071
14171
1378,7241
44,507
5.154
8.281
913.435
271,955
44,507
Quoted investments at cost
853,058
853,058
Invesfment in 5ub5idiaries
SDC Enteipri5es Limited
SDC Iniernational Limited
445,600
445,600
99
445.699
445,699
A deiailed listing of investmenrs will be avallable at the AGM and is available lu Members on request. The inVE5ltneo15 are h￿d pr4maiily to provide
an inve5tnTrent return.
Invesknonls in 5ub5idiarie5
5DC owns 100% of the El ordinary shares issued in SDC Enterprises ￿Mited, the investment is E445,60012023 - E445.6001. SDC Enierprises
Lirnifed Icofnpany number 004331971 owns 11)0% of the El ordlnary Shares 155ued In Sam Weller bmited Icornpany number 004331971 amd lOO%
ol the £1 ordinary shares issued in Northern Dyers Limited (Company nurnber 022569901. ￿SU115 of both compan*e5 are consolidated in these
rinantial st3tefflents.
The 5DC'5 investment Sn 5DC Internbtional Icompany number- 043099701 rewesents £9912023- £991 ordinary shares of Él Èath which is whollv
owned.
All 5ub5idiaries a￿ inCor￿rated and registered in England and Wale5
53

The Soc>ety of Dyers & ColodrLSts1SocI
Yearended 31 Qecember 2024
Notes io ihe Financial Siaiements Icontlnuedl
The consolidated re5uIt5 of the Erading subsidiarie5 for the linancièl period were as follows..
202A
2023
Turnover
Other Income
Expenditure
Profit forthe year
7,068,200
6,100,943
62,453
123,625
15,906.4951 15.146,0761
1,224,158
1.078,492
Asseis
10,D57.024
9,508,211
11,736,317) 11,811,663)
8.320,707
7,696.548
Net a55ets
19.
Invemment Property
Group
Freehtsld
lthvestment
Pyoperty
Valuation
At l J3nuèry 2024
Additions at cost
Revaluat40n5
Transfers Itollfrom freehold properry
At 31 December 2024
320,866
320.866
Charfty
Frtrehold
In¥e5tment
property
VJluailon
Al l January 2024
Additions at cost
Revaluailon5
Transfers Itollfroffl freehold property
At JI Decernber2024
320.866
320,866
fjroup alld Charity
Inve5tmenr property wa5 revalued in March 2025 by an e￿eMaI val￿er. This was conducred by WBlker 5in8leton Chartered SurvEyor5, at open
m3rkÈi value in accordance with RICS Valuètion Praclice Statemenis of thE latest edition of the RICS Valuarion Professional Stapdards. Valuations
are c8med out on the basis of Market Value as defined In V3luarion Pr3(tice statem￿1$ VPS 4.1.2.
The historical £05t of the freehold inve5tFnent property above at 31 December 2024 wa5 £323,33E12023- E323J361.
20.
Stock
GrouFr
ZOZ4
Charity
2024
20Za
ioij
Raw materials and consumables
Work progre55
Finished 8ood5 for re$3le
761,546
195,548
1,805,604
2,762,698
681.517
229,937
1,584.768
2,496,222
5,606
5,606
4.257
4,257
Total carrying arnount of stocks pledEed as secur+fyfor liabilltie5 was £2,757,09212023- £2.491,9651.
541

The society of Dyer5 & Colourist51SOCI
Year ended 31 Pecember 2024
Noies to rhe Financial Sthtements Icontinuedl
21.
Debtor5
Group
2024
Charlty
2024
2013
Amounts fallln8 wllhln one year
Trade debtors
Amounts owed by 8roup ktndertakings
Other debtors
Prepaymenis
1,233,639
1.061,470
14,222
54.193
43,669
19,(M8
131,132
13.887
85,155
41,633
17,569
158,244
166,539
367,903
1,768,081
118.086
104,520
1,284,076
A speclfic bad debt provision, 3mDuntin8 to E40,052 12023 £40,052), has been raised in respect of amotsnts due from SDC EC. The b3d debt
recognised within the Statemenl of Financial Actwity for the year was £N¥l12023 4Nill.
A speclfic bad debt prowsion, amounting to £54,00012023 £Nill, ha5 been r3i5ed in respect of amount5 due from SDC International Ltd. The bad
debt recognised within the Statement ol Financial Activity for the Charity during year was E54,00012023 -£NIII. The bad debt recognised within
the con501idated Statement of Financial Activity for the giovp durin8 the year was £Nil12023- £NIll.
Cred5tors: amount5 lallln8 duè wlthln one year
Group
20Z4
CtrÈarity
2024
2023
2023
Amounts lallln8 wlthln one year
Bank loans
Trade credito
Tax@5 and Social Security
Accruals and deferred income
Other creditors
61,267
309,41S
124,631
593.467
30,002
1,118.782
60,791
412,178
143,061
465.202
20,399
1,101,631
85,230
11,890
38,853
20,038
156,011
22,776
14,214
54.074
15,824
106,888
Deferred Income relates to income reteived for stsbscription and member lees whlch Is not rÈlatable to the year end 310ecember 2024.
Credttor5: amounts fzlllng due after more than one year
Group
2024
Charlty
2024
2023
20
tsank loans
564.683
564,683
626,426
626,426
A debEnture is in place which includes a cbarge over all assets both present and luture DI the subsidiary SDC Enterprises Limited dated 9 February
2016. in respect ol the bank103ns held by the Group.
The bank loan above 15 secured on the propertv lo which il relales to.
Loan5
Group
2014
Charlty
2024
2023
2023
Bank loans-
Amounts Falling due within one year
Amounts lalling due 2-5 years
61.267
564,683
625,950
60,791
626,426
687,217
55

The Society ol Oyers & Colourists ISOCI
Year ended 31 Decernber 2024
Notes lo the Financial Statements Icontinuedl
Z5.
Deferred tax
Group
2024
Charlty
2024
20Z3
2013
At beginning ol year
IRele3sedllchar8ed dufing yeaT
At end of year
190,614
18.371
208.985
156,OfAJ
34,614
190,614
The provision for deferred taxation is made up as follows..
Group
20Z4
Charlty
2OZ4
20Z3
2023
Accelerated capital allowances
Other timing diffefentes
Losses clfwd
Total
208,985
190.614
208.985
190,614
56

The S<)r.ieiy of Dyers & ColDufi5fs ISDCI
Vear enrjed 31 Decemb&i 2024
N)le5 tv rh& Flnanc1al Statements Iconiinuedl
Funds- ¢utrerrt year
Fund balance
DIIOI12924
Galns Net movement Fufid bJlan¢e
L055es
In frJnd$ 31Iiz12024
Intome Expenditure Tran51er
UnrÈ5trirted funds
Accurnulated fund5
Z,180.706
867,AOI
11,095.2381 4,000
1223,8371
1,956,869
0È51Énatedfuftds
Centenèry ÈdueatDnal tru
Tordoff memorial
Unfunded projects reserve
Total de5ignatedfvrtds
60,9Q9
94,885
249.583
405,377
14,IZ91
14,1291
14,0001
1122,5531
1130.6821
56.780
90,885
127,030
274,695
14,0001
1122,5531
1126.6821 14,0001
Revaluat￿0￿ Reserve
223,685
44,5D7
44,507
268,192
Total unre5trfrted ￿Thd$. Charlry
2,809,768
867.401 11,221,920)
44,507
1310,0121
2,499,756
Restrlcted funds
George Dou8las Lecture
Turner scholpr￿eFd Award
Future Te¥tile Oyers Fund
1,730
8,510
17.801
28,041
1.730
8,510
7,208
17,448
110.5931
110,5931
110,5931
110,5931
Pemian?nt endowrnent fimds
George Douglas Lecture
Turner Scholefield Award
Veronica Bell Award
2,128
2,497
12.876
17.501
2.128
2.497
12,876
17.501
Totsl fufid5. Charlty
2,855,310
867.401 11.232,5131
44.507
1320.6051
2,534,705
Funds rétained in tradln8 Sutisidiaries
7,165,905 6530.653 15,A75,5331
655.120
7.821.025
Total funds-
10.021.215 7,398,054 17,108.0461
44,507
334515
10.355,730
57

7he Society of Wer5 & CulDu¥ists ISOCI
Veaf ended 31 Decefflber 2024
Notes to the Financial Staiemeiits Icontinuedl
26.
Funds- previousyear
Fund balance
0110112023
Galns and Net movemen* Fund bal8ts¢e
L055e5
In fund5 31/IZI20Z3
lTh¢ome ExpendTrture Transfer
unre￿rICtEd funds
Accumul3ted fund5
2.315,275
801,889
1943,3591
6.901
1134,5691
2,180,706
Desl6natel fund5
Centeriary education81 trust
Tordoff memorièl
Unlunded projects reserye
Total desiEnaied bjnds
63.478
96,385
254.984
414,847
12,5691
12.5691
11.5001
15,4011
19,4701
60.909
94.885
249,583
405,377
11,5001
15,4011
12,5691 16,9011
Revaluatlon Re5eNe
176,337
47?48
47.348
223,685
Totsl uThrestrlcted lunds- Charfty
2,906.459
801.889
1945,9281
47,348
196,691
2,809,768
Restrirted lunds
George Douglas Lecture
7umÈrScholefieSd Award
Future Textile Dyers Fund
1,73Q
8,510
27,752
37.992
1.730
8,510
17,8ai
28,041
19.9511
19,9511
19,9511
19.9SII
Pemianent ¢ndowmentfund5
George Douglas Lecture
Tumerscholefield Award
Veronlca Bell Award
2,128
2.497
12,876
17.501
2,128
2,497
12,876
17,501
Total funds- Charity
2.961,952
801,889
1955,8791
47.348
1106,6421
2,855.310
Funds retained in tradin8 subsidiaries
6,602.367 5.674,568 15,111,030)
563,538
7,165,905
Toial fvnds- Grotsp
9,564.319 6,476.457 16,066,9091
47,348
456,896
10,021,215
58

Tho Sodeiy ot Qyers & Colourist5 ISDC)
Yeai ÈwTrded 31 Decernbef 2024
Note5 to the Financlal Statprnents1¢ontlnuedl
26 Funds l<ontinuedl
The spedfit purpose for whtch the funds ale to be applied are as follows.
Desl8nated Fund$'.
Centenary Educatlonal Trust Fund
Established in ile 5DC's Centenary yeaT119841 to provide flnance to stimsjlate the recrustment of highly talented and well-rnDtivated young
people onto full-time IDurses in colour scienEE and technologv.
Tordoff Memorlal Fund
Established In 1992 in memory of the late Dr MaL*ri￿ fordoff, former Chief Executive and General Secretary of the SDC. To pro￿de finance to
support students undertaking part-time education in colour science and technologv.
ijnfunded projects reserve
Th15 fund is designated loi additional Gift Aid received over and abDve the Societ￿$ Board agreed bzseline level required for general running ol
the Society. These reserve5 ale then available via the Project Evalualion Gioup IPEGI for specific projects to develop the SOC products and
Services.
Restrl¢ted Fuftds..
George Douglas lerture
Represents Incoffje arisin8 from the George Dou8135 Lecture permaDent endowment fulld and the use of that income.
Tumer Stholefield Award
Represents iniotne arising from the Tumer Scholefield Award permanent endvwrnent fund and the L152 ol that fn£Dme.
FutureTexUle Dyer5 Fund
To support the apprenticeship program FTCCTCC. thi5 rnoney has been received from Worshipful Company of Dyers.
Ptmianent Endowment Fund5:
Geor8e Douglas Lecture
The Lecture was started in 1948 with a fund establtshed by the Bradford OyeFs' Association Ltd to finance a biennial memorial lecture. The lerture
to be on a Subject re13ted to the dyeing and fin¢shlDg Df textiles. The fvnd now allows for Fromotln8 edut3tion In colour science and technology
by the holding of public lectures.
Turner Scholefield Award
A medal, 8warded annually, to an A5SOCi3te of the SDC, under the age of 33 who hè5 made the most notable contribution to the scieThce and
lechnolo8y of colouring matter5 and thei¥ applicaiion.
Veronlca Bell Award
Presented to the winner Df the student Interrsaiional Design Competition in memory of the SDC'S first lady presidenl, Veronica Bell.
Revaltsatlon reserv
To record any 8alll5 fiom revaluations of freehold property and Investment property.
59

The 5orieiV ol Overs & Colouilsts ISOCI
Year endEd 31 DeCe￿ber 2024
NDtes to the Flnanu31 Statements Icontinuedl
27.
Analysls of net assets by funds- Group
PeThanent
Aestricled EndowmÈnt
Funds
Fund5
Revaluailon
Reserve
Funds
Unre5trirted
Funds
Total
Funds
At 31 December 2024
Intangible fi-xed assets
Herita8e a55et5
Tangible fixed asser5
Investments
31.129
63.500
3,710.499
913,435
320.866
7,153,258
11,118,782)
1564,6831
1208,9851
10.300,237
31.129
63,500
3,710,499
913,435
320,866
7,208,751
11.118,7821
1564,6831
1208.9851
LO,355,730
Investment property
Current a55ets
37,992
17,501
Long iemi ￿labIlitIeS
PIovi510n5 for Iiabllilies
37,992
17.501
Analysls of nèt as$ets by funds. Grovp- prevlous year
Ptrmartent
Endowment
Futsds
Re¥aluztion
Reserve
Fund5
Unrestrl¢ted
Fund5
Re5trfrted
Funds
Total
Funds
Al 31 Detember 20Z3
Intan8lble fixed assets
Heritage assets
Tangible fixed assets
Investments
Inve5trneni property
Current assets
43,645
63.500
3,322,493
975,697
320,866
7,168,143
11.101,6311
1626,4261
1190.6141
9.975,673
43.645
63,500
3.322,493
975.697
320,866
7,213,685
11,101.6311
1626.4261
1190,6141
10,021,215
28,041
17,501
Long term liabilitles
Provisions for Ilabilities
28,041
17501
Analysis of chanzes in #et debt
Nèt debt at
l January
2074
626,426
60,791
687,217
Cash flow
Net debt 31
December
2024
564,683
61,267
625,950
Long term borrowin8S
Short term borrowings
161,7431
476
161,2671

Th2 Sapjety OT Dyers & ColouTiSt$15DCI
Ypar 31 December 2024
otes to the Finlncial 5t•lernents Icontinuedl
Cornn￿tme￿ts uThderopei•ti*R lea5e5- le5Seq
At 31 Decembei ZO24 the gmLtp and rherharty had future mlnimum lease payments under non<ancellabl2 operdt)ngleases as follows..
Group
2024
Charlty
2024
2023
2023
Not later than I year
Later than I year and not laterthaft5 years
Later than five years
152,829
36,162
9,545
198,S36
156.445
152.829
46.750
356.024
12.829
12,829
9,545
35,203
12,829
12,829
23,417
49.075
The amourFI ol non-cancellable operatin& IE&5e payments recognised as an txpense durin8 the year wès Group £156,445 12023 - £228,030) and
Cffia￿ty E12.829120Z3- £12.6801.
Commltfflents under opeia¥nE leases- less
Al 31 December 2024 the 8roup and the charltyhad future mlnirnum lease payments Te￿i¥3b1e under Don-can￿lIable operatlnE lea5esa5 follow5.'
Gioup
2024
Charlty
2024
2023
2029
r4ot later than I yejr
Later Ihan l year and ntrt lèter than 5 years
Later than five years
964
11.004
964
11,004
964
11.968
954
11.968
The amount olcontngent rents recognised as income dufini the year was £91.47112023- £81,7411.
Capital £omrnltments £Nil12023- ÉNill
Related party traI￿rtIOns
DuNnÉ thÈ year thecharity entered Into Ihe follDwlng rransaCt￿n5 wi*h related parties,,
Glotsp
During the yeaiÈnded 31" December2024 thé 6￿U￿ rngde purchases totallin4 O71,D2712Q23., Q62.1171 from Advancedculours and Chemicals
Ized. a companyof which one of the trustee5 of the Chèrity. l Lew15,15 the ultimate contrDllin£ porty. All purchases were made by the Charirf5
trading subsldia¢ie5 and were done 50 on normal arm'5 length tems.
Charlty
Other than iransactv>ns di5c105ed aknve, the charity's ordy related pany trangattions were wlth who14y owned 5ubsidiarie5 and acCordin￿V ha¥e nDI
been di&closed.
Ultlmate CMtrol
The 5D£iety of Dyers & (olourlsts Is a ChaT*table body SDC Voting Member5 elèrt the fru#ees to be Voting mernbÈr5 of the Society s Board, and the
tru5tee5 ultimately control thechorfty.
61