L'ompany numErr.' 1828&10
BRITISII AMERICAiY DRAMA ACADEMY
(Limited by GuarAntee)
Registered C."h#rity Nn. 291796
Kegibtered L()mp#ny No. 182¥tplU
tutement of 4ccounts
for the yeir ended
.Illth April 2025

BRITISH AMERICAN DRAMA ACADEMY
CONI'LNTS
Report of the Board ol'Trn5ieLS
Indcrrtn¢Jcni Audiior's Risx)rt io Ihc Membm of Briiish Am¢rican Drama Aeodcrny
Sialemelll of l inanLial ALlivili¢s
4ul¥nce Sheet
Siutem¢nt (Trl'CJshtl()ws
iu
Nvie% Ivmiing purt tsl. Ihe ULL(iuni

BRITI.4H AMERICAN DRA￿ ACADEMY
REPORT OF TIIE B()ARD OF TRUSTEES
The Board ofTrutsLies of Ihi. British AM￿￿L￿n Drama ALade[n￿ (which a150 opcTrl¢s the namL' Ut. BADAI presenis its anrbual
rerxfft and aud1￿1 financial 51aiements for ihe year ¢nded 30 April 21)25.
Rtfe￿n¢t and 4dministTallvc drlg115
£. A%hLroll
l. C3rls14)n
A. I ludbon IApwinitsJ Tr3 Juni 2025
M. Jvhn
R. Johnson (Chairl
S. Jusbi
P. K¢￿1￿.r IApwinl¥d 2) ?0?51
J.Lu
K. Planas lapFK>intcd ?3 June 20251
M. 'fruL'inan
M. .1 urnbull (Ap[￿)inted •J June 20?51
O. Ldedami IResigned ?3 June j)
V. Fiioairick IResib)ned ?5 March ?0?51
D. CJ¢li)ii III¢sibJiYd ?3 June 0*51
K. Ho¥arth IResi¥Trned ?3 June ?Ql.%l
M. Whitlllker {Re￿I￿ned 23 June 20251
Kev Tttonaxemeni
Dr. L FTank¢- Managing Dirwtor
11. Naylor - Lkyn
H. AiiLSWQrth FC'A-F"it&rKe DireciorlAwitttrd l JanuaTV 21>75
R. Paul fccA- Fi￿ar￿ S)iwur IRLsi8ncd 20 20241
Rt8islered Prkllcipal Trifice
14 Cilouee51er Gale
Rcgcnrs Park
l.ondon NWI 411G
Audllvr
RSM UK Audit l.l.P
Chanered A￿￿ul1tyj
PurtSwid
?.% I ligh Sirl
Crawlcy
Wcsl Sussex RIIIO IFIG
B¥nk¢rs
ViT8in Moncv
154-158 KL'nsin¥tvn l tsgh Stfftt
Lo￿lon W8 711L
Flagsiar tlank"
1400 lIT(￿d￿dY
24th lilix)r
New York
NY I(K)17 114A
Soll¢iiors
& SITawD l.ond(m LLP
I(KI IItsliop5bd
l.ondun F.C?N 4A
Suiie 30-.1
Thc Ilcip Fxthangc
24 S￿1117￿arK Sire¢i
London SEI ITY

VAC.E2
BRITISII AMERICAN DRAMA ACADEMY
RF.P(IRT OF THF. B()ARD O+ TRbSTb.ES
Stru¢iure. %overn*tt¢e and ttkanaRemtot
"lThe AL¥demy 15 aiompany limiieil by ¥buardniee, regisiered in Lngland and Wal¢f Ni). 18?8640.govemttl by lis Articles ol'A%8iKialion
daied 23￿ April 1018. 11 is a ttgiisiered Lhariiy in Lngland and Wales NL?. ?91796.
The ￿vard of Tru¥lcc5 i¥ r¢sp)n%ibl¢ lur th¢ ¥ov¢rnMmx' of thL Ac4dLmy. Iss mL'miK'rs aLI Trust¢¢￿ Ut'thr L'harity and DirtLiors
ol lh¢ l-OlDpaDy. li m¢el.% & l¢a5t evLY¥ liiur m()nihs li) lullil its gpnveniance re.spDnsibiliii¢s. ￿1￿la￿emen1 cil Ihe ALad<'m> 1% delL¥aied
Ici x sinall F.xL'LUIivL¥ Il'am. under IhL' l¥*ilL'rship i)t'IliL m￿ja￿li11¥ l)irL'Llur wcirkinbr in Lluse LUUPLrttiion wilh ihi r)iwi Jnd th¢ finwK'L'
nircclur. ￿'portIn¥ lu IhL' Trubl¢L'S rL'biilorly.
ThL' Tloard uf Tru%1¢¢5 has L$thI1shL￿ thrcc prinripJl ¢otnmill¢c% 10 diSLh￿l. funL4lOJlS rL'laiin¥ tti Ihc Hdminislrnliun Jnd m￿￿￿L'inL'￿1
lif IhL' ALudLYny'.
l.inKnLL'& CiL'iILThI Piirp()SL'S C'(iiniiiillLL' IrcLLiilly Knllincil ih¢ Fi￿¢¥ and C)PL'rulivn& c'ciiniyiiiiL￿) ￿ltIlh IiiLLl% di ¥v¢ry
r(iur ni()nihs. During th¢ yv&r under review Ihv memhers were Kiiliard Johnson. A4hcr()fl. Kuih Ilv¥arth #nd Wend) L￿.
AnL%lii Ai*iQiini£ L'iimmiiiLX' whiLlI InL'L'l% ai IL'4%1 IWILL a >LJT. I)uriiib Ihl uftdlr r¥￿IL'w IIIL. niL'inhLP* WifL Ruili
IlcigiQrth. Mutt Trulman. Viil(Iria fitypalrick IRLsi¥ii¢d •3, Marili 202SI I.OlLlSk' L'lhdiiial IF.Alinul Adviwrl ￿ld lknniiJ
fv-iindrdiSillts ('ominiiiee which mee1$ ai leas1 every f(iur iii(Inili%, l)uriii& Ihc vchr u1￿l'r rL'YiL'W Ihe IneiTiber8 were l.ydia
C'arlsliiii. li¥lcin. RiLhJrd Juhny)rL %#mir Jushi. ML'lwiiL' Wlii1iakL'r #lid Ma¥bPiI Whiiluiii IF.Xl¥rridl Adviwrl.
We Jlsts h4Y¢ tt BADA C(KLii¢iI whi¢h retain8 Ihe wtsdom wid ¥o&Jwill of our pasi CJoY¢rnor5 Ind A$S￿l01t Arti%iS.
l￿bIk brn¢ni dLirlo%urts
Pri?vidiiib aLfC¥% lo fin￿l¢ll) old 1% seth a% An initBnhl Phrt of Ihe rtcniiinienl pr￿￿. s and pHfli¢iilAr aiieniinn 18 paid In en%uring thai
oii¥hi i(1 Xllrtsci th11sc wli() e&nii()i lllTo*d thé feL'% ¢lidrb7ed. b). Ihe pnivisii)n (Il'NLliolarships Und finw￿l&l uid.
-lTh¢ l.'widrni¥ing L'ommittLY whiLII w&¥ L'siabli%hL'd in Curly ?0?? aiiTS% 10 Th1.4L $1.7 mlllion li) lutid .10 fiill *Ll1£>l¥r￿7ip4 for
•4 diid iliL IILLusiiin w￿4 In￿rkL￿ by ￿'V￿r￿1 L'VL'iily iii l>xliirJ. Nkw York l.o% Aii¥¥lis lu wliikh dluiiiiii. rn'lird und Lurrliii INihlLK'
1i4J fTiiiidb w¥rL InvilLxl. ThLx4 ¥v¢iil¥ %v¢ri us¢d lu ¥hl1WL￿, IIAf)A and all ils aLIiiL•VL'mLni> OVLT Ihi pw%i 40 y¥Jrs IIHvi' pfLIVL'd
10 vlry USL'fiil spriii¥bt?aft15 lrnim wliiili lo luiiiiili i)Iir liiiiQruisiii¥ pfu¥niiNTllC. IknL' lundrd15111bb IL'ain will ¢oniinuL lu d¥v¢lop arKI
build un lh¥ ar￿ r¥ 4unii¥Lliuns mJd¥ iyiih lop priurily bL'iiib* ihL mL*Yinb uf our >Lliolurship bo&s.
rinanriiil ￿ld am'urds Tn4d¢ in lh¥ y¥dr wcrc £220.7tW1IU?4,. L168.1821.
Oblt¢tlvt$ 4nd *cllYllb
'Ihe objects. as dcthiled in dic Article8 ol- Assorialinn. inrlude.. Ihe advttncemeni (>l' ediiLaiii)n and Ihe I￿￿trI1 Trf Ilit ¢onimuiiiiy b>
siimulaiing thnd biiving in8iTULiion in all as￿¥14 1)fih¢ ￿TforMin¥ ih¢BtTical BrL4'. lo esiabli%h. maIn￿1n and slip￿)rt Li)IiN% fi)r
who m¢¢1 Ihc Acodcmy s rrituia lor partiCiPXlion: lu pr41vid¢ Iinoniial assisianc¢ io ¢nabl¢ all¢ndaii¢t.
I'hi. A¥&demy 4e¥k.4 ia ailiitv¢ aiiiis ihriiu¥h it4 %hurt rc¥idtniirtl progirnmmes in Li)ndi)n. l)xliir(l and <ir¢¢LV iiiid 11.4 Fdll and
prinh l erm ioiir8ts in Londiin. Ihe Li)ndnn'l'heaire ljrobirani 11. I'PI. wliich 14 w-s￿rL4[>￿d b> Sttrth Lll￿nLe L'ollebie in New Yi)Tk.
A fi)mial a¥rL*iii¢ni Ili¢ Acad¥iiiy ￿ryd Sarnli l.awrciicL' ( (IllLMe %el8 1?ul Ihe %hating aiid ili%iribiiiiilti i)r IIIL pri)xraiiiiiie
rewuree%. Links with majs)r universiites wid Liillebye% iii Ihe Ilniied %iaics nl. Am¢rir& lo¥dher wilh a piiliLI' ol. audiiiniiiiibi all
pmsrellive sI￿dentI eiisiire a higli siandard ofih(>SL' aii¢ndinB the cnijrses. Psrtieular iiiieniiijn 1% paid li) Ihe nV¢Tall exp¢rien¢v ¢iijTryed
IrenBih5. evidenLe(I by Ihe lii¥h level ol. inieMI in Ihe pft)b7ruinine4 enLI)uni¢red by our repre￿nI￿liVeS Ihey vigil Lolleb*Li4 in Ihe
A¢hlcvemtnts ptrfurmanct
In JuiiL' 20.4 WL. wL'livmcd 51iidL'nls iu Iwovt'our mvnih-luii¥ pn>grdminL%. RlaLk Briiish ThutT¥ wid P¢rturtnllnLf IEIFITaPI (ifL'L'k
Thratrc.. From Ihe AnL>cnl Wurld lu iliL' M￿£.[￿. Through TtKxiry aiid Pi'rlonnanLL' I'nic (irceks). W'L WLre v¢rv Iu WLILutTre
in i0iilLiiitK>rJr) t1)cJi￿. fvllii%siii¥ a liigiw% !Q73 w¥rL v¥ry p114wd tv wil¢utnc 111 sludL'nls lo ThL tirL'L'ks this yLdr. Iliis
cctLtrc pr()BraminL' Il.ondun. CiTC¢f¢. ()xfoTdl is d¢di¢lll£d lo ¢xplorin8 the ￿rfOr[n￿nCL. and rLfL'Plion of #nLieni drama.
Iii July ZO?4. w¢ w¢lwmcd uf(J6 51udcnis iu uur Mi(Isurnm¥r in Oxls)ni IMIOI rEsid¢mtial SillllTnry pwme ￿ OxfuT(1 well &5
27 SIL￿￿nts ￿ our Midsummer C{x￿rY￿Ory Program IMLPI. which 10 its in Oxfwd..
W¢ aguin two cohvrts of Siudents on ihc l.undon Thcairn. PTOWM 11.TPI,. 41 in th¢ r￿1. and 44 in th¢ %prin¥.

PAf.E 3
LIRITISH AMF.Xlf.AN DKAMA ACADEMY
RF.PORT OF THF. JIOARDUF TRU%TFFS
Finan¢iAI review
Incutnc trotn OUT pro¥rnmmLS Ivr IhL' yrar L3.127 !15 1?024.. £9.671.-5461. Thc ALadcniy mudl a h¥'HIthy Surplus for thL' YLW of
?81120?4.. £1,346.9511.
£2(kn.3301?024.. £323.79nl.'li)Idl unresiriiknl re%eTves ai 31y* April:025 w¢re £1,543..
Kfv rlJkJ uthcertalThiltJ dlsclu5wrt5
Ihe mdjcir 10 the ALadem) are kept under frequent revie￿ and addres£ed aE nec¢44ary. A4 mo%1 ol'the ALadems' % siudenL% are
from ihl Ilniicd L)f AIiiL'riLy. iniu'rnaiional evcnL4 and iyonomic do￿.nIUrn￿ Lxiuld advL'ryely afftLI siU(lini iiunibl'ri. MIL risk" ot.
si¥nifirani unlurL'SL'L'n f¥'duLIiLln in siud¥nl niiillbeY% is IhL' primBry risk. bn)u8hi intu focus by th¢ impad ot'ihi LUVIt)-111
p4ndL,1￿ic. rcinliirLLxI IIIL, ncLxt tor VL'ry tiKus%cd risk Inana¥¢tn¢DI.
ThL T￿L¥￿*s WtisidL'r thBi ihL' principal risks and uncertaliiiics lacing tlic Aradcmy aT¢ w fvllow5.'
r(Irl￿¥ll r¥JiiLlicin in STudenl numb¥'ts-.
InainienanLe ol'repuiaiion:
L'ffE*I Ot'L'xLhgnge raiL ihwigc%.
'rhe AL4￿enlY * finHnLial riNk mwn4bJ¢mthii l>b3eLiive4 are til ¢o¥ur¢ Iwidin¥ r¢soufies and Iu L(Inlinue li) In(Jniiiir Li)41% 4iiidellt
number.4. Ihe Ikiord rebbularly revieu'% b￿18¢18. forec&%i£ and cwren¢y ¢xpo4urr, lThr Jlowd iontinue4 1() wotl( closely wilh Ihe IJADA
tnyna¥¢m¢ni lu ¢nsurL' dL¢￿ill.0 Jnd rvbust finllnLial plannins,.
for fwture perl¢NI
'Ihe t)￿M￿ for th¢ L"IP remaininsy dwitr rA)IiliCAI iuTrnotl in the ISS particularly 5urmunditw libgToJ *YL4 coll¢B¢s.'Ihe
all senie¥ter iil'ihe L I l) 1% iinniiikxiil) and we have 44 %ludenis in tsllLyuknILY. AppliLatii)ti% are now owi lor th¢ Spriii¥ ?0?6
feme41er ond Lwreni wliLaliixi nwil￿ iTKliiaie thol the aclu￿ enrolni#ni will lh¢ w¥y j{)n 1?1'4V. whiLh will mem to￿1 SlLKlenl
nunikntNuivaleni ID Ilx)se for Ihe 2W4nS ￿￿1ra￿l￿e.
(kn %UiDl￿r 1024 pn¥rwnin¢% havi J¥dlll s¢¢n vwy sIn￿l￿ ￿￿￿￿11 nu[nI￿r¥ u)n51￿C￿l with iknr f()r summer ?0!4. 18 flir I7￿ (iTe¢kK 10
ror Illl'1￿. 77 lar M('P pnd W fnr ilK' MII). W¢ conlini￿. In devLIIy (Ikir m(mih. lonbi ¥umniLY mimiime8 wid •(1.lfi ￿.111 II
thuiKlI iil'viir IlL¥4. %pwiis1i IIiL'alN. Pnbpnini.- RLiniJginiiw I[14X￿1)L c.1￿￿￿1i* ITUlii Illi (rfilJiYi A¥i lo l.i)ria. This Hill IK. & dual LLYfftI
pwnme in lA)nd{￿ Sp2iii. ljiiy pAwrnmin¢ will ¢nJbl¢ the A￿d£*my ￿ bftx¥JLm its $ll￿￿nI L￿gag￿Mcni siill turthcr.
Goln¥ C'oll¢¥rn
In i¢rm5 Ot. Q%P05llT¢ lo thc impgrl of innalii>n on our owcrh¢8ds. the Acsdtmy's most signifi¢ani oveTh¢ads are salary and prO￿ty
t)CLini￿'T !11?th. leadin¥ EliildLarL' pr()vidL'r ¥iiblL•I pmn of Ili¢ prLIiii.4LN Mliiih IN 11141) fixLd iiiiiil rkxL1n￿'r 2Q?6. Ih¥r¥lurL' IIxvL'
Lurily Iil'leniirv und i()nfirmLd rL'ni paymenil and renidl inLximv iiniil Ihui tim¢. Oiir laiidliirdN. Ihe ('r{l￿n L.siai¢. have nnt indi￿led
Ilial IhL will nui ￿. rLii¢wiJ iiiiJ (lisi1￿￿lOn will ¥urly 20?ts Ici r¥n¥wal lur d lurthLr tIVL yL'th.
In the %tsnimer5 1)1'•0!3 and lshilsl Ihe UAI)A l eani %sere iii ()xl(Ird fi)r Ihe %umnicr probbmmines. IlL' enier¢d iiilo ali akre¢mrnl
lor a two- iii(Inih lii¢nr¢ ii? ￿ClipY prniDi%rs li? a siJniin¢r lan¥u8¥r %h(K?l. For ?0•4 this iielded an addiiional L06.11(X) in renial
IIILoinL' *hiLh hds hilp¥bd Iu LTrIIK* lh¢ iiicrws¢s in Iiv¢rh¢Yd% W¥ liavL' SL*n Illl ￿rL.￿ ul'lliL' Ury&lllSdiion. Mil5 IILLIICL 10 IKLUPY
(iur preniises li) Ihe %iimiller lang1￿1&￿t SLhcii)l is abireed fur the %iinimer i)f 2025 and Ihe iniome 1% lill￿ Ilm￿¢￿ upim Iriiigy r¢liJbl¢ far
ruluTV aslillow plannin¥.
E.-xrrf)%iw¢ li) thL ¢¥ihdn¥e rai¢ Iliiiiuoliiiii i* imL' i>f Ai4¢J¢my'% kiy ri.%k% id¢IiiiliL￿ bi Ilic ￿lI￿ra wilh feL% flir i?ur pn)giraEnniL* being
invvired 4txl rweived iii IIS doll*iTS. Fnr the pg$1 few yeaTg. Ihe Ai'811i'rny hi.5 beiii.fiiit.d frDm WL?k sterlinb? COTNpAred In ihc I [% Il{IllaT.
1)?% Ihe value 17f41erliiibJ 11&% 41fL'iibiihLYILxI ayiiist IIK. 115 di)Ilar asid Ihe All￿em>. is oxry>sed lo exclianbye lasseq lor lh¢
rirsl limL' iTI SL'VLrJl yLYrs. 'fu lliinillliSL' IIIL. ITTipJLI ul'L'Xili￿tl¥L. 1055es WL. rL4l#ilI suifiiiitji US dollars in L>ilf LIS bthith 4¥LoiiiII 10 4UV
alllicipaled 115 ¢xp¢ThJitur¢ lor Ili¢ ltsrthcoinin¥ Iwelvt lllonlhf.
Thc ha5 lllwllys tdken u Lautiou& viiwi whcn considrrin¥ the tinJnLial outl(NJk forthe ALudLmy. x vilv which hats x'ryed li w¢ll
nd ha% cnsiircd tlial rk. Avddemy finds i1scIt'LmeTgiiig from Ihc pandLmiL willi & s(iuiid rLThLrvL ￿￿%¢. l.<Kikiii¥ forward lo ?075tyyo Ihc
-iaiTse LJiili(?US VlLTrW ol ili¥ i?Mlc()tn¢% (Il the k-ey cDntrihul()r% la the ALdd<mv'¥ linan¢es have b¥en applied. I hL'se IoTi'Las1.4 ind¢Laie Ihgl
th¢ ALJdLllly has sufticiwit1￿ts and ¥Ln¢rdl UliTcsITicILd rcscrv¢s to Tn¢cl ils linancigl obli¥Rliunsgoin¥ luThard. The Do4Td i5 Ihcrefore

BRITLSH AMEIUCAN DKAMA ACADEMY
PAGE4
REPORT QF THE 11()ARD()FTHUSTEES
14uetryes
The Academ>'% unre*￿¢ted rebtrve% ai 311 April ?Q25 ￿ere £1,54J,•¥l 120?4_ £1.346,951 I which include% £l(KI.(KK)12024.. £3.4?71
f di%lSllHt¥Yl I'unds. l)urin¥ Ih¢ycdrik.11()Jrd approv￿ a fortnal rL'%LrNc% poliLy Ilitti dLfin¢YI ilie &ppr()priaie ICVL'I Iil'LiLn¢rdl Rl￿rVeS
10 pft)vide suifiLietti 2de4uac> tsfcover for Ihe risks ideniified 10 he Ll.(rfM).O(Kl.'I'he level L)Ireserve4 &qai.30 April ?0*5 18 %ibiDili£aoily
it* exie%% of thai. lThe Mervei pcilic), 21%0 (iuiliiied Ihe Biiard'% eiiinrniiinenl lo p￿)1'1￿117￿ ￿11)￿d %iud¢ol% l(1 ihe .4L&deTn>
progtniintnL'% rL'gardlLS5 ul. Ihi'ir fiiianiial bdikground. To ihai Ilii ￿(i￿rd hav¥ di¢>d￿l ￿ rc-build IhL' fk'sTrginxlL'd RL'S¥mL'S aiiJ
ppro¥LTrd ihl irniisf¢T of IIUO.IXM> frutTL CtillLrnI RLSkYVLS. futurL' yL'tsrs will scL' ai ILL41 ?OO/o lif b)c a￿￿11a1 st￿1U> b¢in¥ Irdnstirr¢d Iv
tle%i¥naied Res¢ty¢$
F.4u41 upportunlllcs
The A¥41dcni> isdLipI) io¥Nualiiy ul'uppinunily for stdll'Ut￿ siudL'nis alikL'.11svi5iun is iucnab5c lJ% and oihcr inlcm511ional
siudet>lS W WiLIPafi' lully in our c<lU￿￿. irrespe¢livc ufbwriLrs Ih¢y Tnay tyr¢ linkvd 10 eihrtliily. clash. disabiliiy. gender. s¢xuality.
icKKunumiL vr Oiher.
In resIN￿* Iii the El1￿k Lives MAiieT movemeni in Jitne 20*0 Ihe A￿erny csiablished a Diver%iiy A¢ii()n CtTOUP ¢ompTi.4in¥i 4i8ti'.
InLThhLrs ul. tdiuliy #lid aluiiiiii lo rcviLW illl iurrcni puliiii% #nd prJili¥k% Iu LnyufL' that EIAI)A is ai IhL' lorLtriini lil- cliaii¥L and
Inclu￿11)n. SinLL' IhLm. IIK, ALJdi'mV hii.s IdkLn ylL'PS I()w￿r￿S fiiifilling Iliis LoinmiiinLni iiiiludiny. bui liinilLJd iv. in1N￿lILlrt¥
mandaiory at)d ixi¥oin¥b iiii¥on%cii)us bi&4 diversity irniiiink for irLLSl¢e4. %lal)' and ltitkiliy.. Ihe ￿lILLe$S(Li1 ii pNinimeni i)r eibblii iiew
migii*4 to the HnArd ittcrtA%in8 Ihe divtNii) nl. VDiie4 ¥nverning Ihe nTgThni￿?ti￿n.. revie%vinbP niid 11Tr131iiiL niir oller 10 %liKleniA
LXIYllllbT cou￿$ und iTculin¥ Ihu n¥%¥ tllylk tlrili.4h TIiL411rk prv¥Thin' ¢lL'VL'lupinb Iruilliil rL'laiii)Ii%liips willi LIlLmal JF.I)I lJu%llf¢.
Lquily. Divwsily athd ItKlusiottl ionsultsnts It￿ diverse iheaire I)rg￿l$allons ID advise us and 10 infi)nn iht ¢hanb•es we are m*kin¥.
JJAL)A Loniii)ue$ 10 inveyi in muiniainin¥ and u￿radIo¥ ilh premiys lo ¢mpr(iv¢ a¢¢es5.
l¥lemtDI iifTru%ltt¥' rvwill%il)IllilvJ
'll)e'l nL*li¢N (whii art alNI) dir¢'Lli)I'% nfihe Flriiish Ainerican l)rBmo Ac￿emY for lh¢ purrn)* ofethmpany lawl ore rt%rx)nqihle for
C'uiiipuriy 111%4 rLyuirL'Y IIIL. I'ru%lLK'S lu prL'pJrL' liiianLldl slulLlnL'Tll& Ic)r L￿lI1 lin#JKiMI yL¥r wliiLII giVL' # ITUL tuir vi¥w i)I' th¢ stat
01'4ftiijrs i)I'th¥ iharilublL (i)In￿nY ul'ihL ijiLI?min¥ r¥￿U￿L.% uppli¢Aliun cil'rL'Suuf¢L'&. IllLluding IIJL. inLomL' Jnd expLndiiurL.
of ih¢' Lh4riiablL C(iinwany liir lh￿1 pLri£￿. In pK'pdr¢n¥ IhcbL' tiTiwiLiul ¥iJl¢iiiiTil%, thc'l'nislcL¥ arc riyuircd 10..
.1￿1 %uilablL' aL¢vurilinb pKiliLIL'% und IliLn dpply ihL'tn Lonsibicnily.,
illie iwlieiher iippIiLiible IIK IiLiiiulliing7 $l￿d￿r[l huv¢ been Iiilliiwed, 4iibjecl lo any malerial dcp8rture% di%tlo%ed And
prepare IhL' linuncial sljlernrniy Ihc ¥(>in¥ Llmtem bL%i8 unle44 il is inappmpriaie i(1 presume Ihai lh¢ chBJi14ble ci)Inpany
I nisie¢s dr¢ re5￿)n11bl¢ liir k¢¢pin¥ pr￿r￿r gLI(Iiinlin¥ T¢CI?rd% Ihal diwlnse wilh rEa4oiiahle accuracy 01 any lime Ihe iinancial
P1>511ioii ofthe Lhariiable Li)mpan) li nd Enable them ith en8ure Ihai th¢ financial %iaiemeni.% Lnniplw ￿'¥ih Uie C-liThpans¢4 Act 2110t*. .111¢
iirL• Blsn re.55Miiisihl¢ liir S£il¢¥iiBrdiri¥ thL af ihc Charit￿b]e LliliiPthn> llftd hL'n¢e l(>r reJ.wnAhle 4lL'P% flir Ihe prewl'niion and
deie¢iiiin (if Lin￿j st￿ oiher trfe¥ulariiieg.
Th¢ Trus1¢¢5 confirni Ilial s(1 far 0$ ili¢y ur¢ IhLr¢ i& liv rtlcvani audil infomiaiiun ofwhich the compan) s Jiidiior is UiidWaTL,
'[The￿ have iaken all Ihe %iep% thai Ihey (>Ubhi ID I￿Ve iakeii &% .1 nisiee8 iii order lo niake Ihem4elv¢% &W4T¢ ol. #ny rtl¢vthi thudil
infonyation aiid 10 cslablish ihal Ihc compaii) s aiidiinr 14 of that iiitornialiuii.
Audltfjr
RSM I IK Audil l.l.P 1% dccfflrd iu bc rc-#ppoiiiicd undcr 487121 ot'th¢ C-vmwi¢s ALrt 2(KK>.
Tliiy ¢LWrt Iw b¢L'ii wpllrcd in accordance i¥'iih thL' proi'i%ion& appli¢llble 10 eornponics eniiiled 10 the smoll compwiics. excrnpilon.
Appriived h). IhL Bi)Ird iill'rustL'LN lin
R J(>hn.50n
Chdir

INDF.PF.NDF.NT AUDITOR'5 RF.VORTTOTIIF. MFMBF.RS OF BRITI%H AMb.RICAN DRAMA ACADEMY
WL hav¢ MudiiLyI Ilic tinanciHI slaiLyn¢nis ()fnri115h Am¢ri4Yn r)rnma A¢adcmv Iihe '¢hariiable company'l for th¢ ycar cnd¢d 30 April
?1125 whiih ioinprisc thL %thicmLllt ot. Finan¢idl ALIIviiiL'S (inLludiiig IliL' SiimmMr¥ I￿ornL and F.xp¥ndiiurL Acrciunil. IhL Eld1￿nLL.
5hL'L*. IIIL L'#sh fiotv SI#ILmL'llI aiid IK?li% 10 Illl lin411ii4141iiiimcnt5. InLludin¥ 51¥rtifiLiinl IlLiouniiii¥ poliLllS. Tric fiiiJniiJl r¢pi?rtin¥
IramL¥s1)rk' tlisi ha5 bcw applic4 in Ihiir p￿pur￿li¢￿17 is appliLablL' Idw #nd Ilniicd Kin&idom A¢u)uniiii¥ 414ndllrds. IllLluding fR5 111?
"Thc finan¢iol Rewrtin8 Swidard applicable in the UK and RLyublic of Ircland" (Unilcd Kingdom GenL'rally AfCCw￿ Accouniing
PraLlILLI.
In uur Iipinion Illi fiiian¢ial s18i¢m¢nis'.
givc a iruc fair view ofiht siaie of Ihe charithblc company's affairs 45 8130 April 2025 and uf ilb incoming rcsvuTCL¥ #nd
HppliLuliun Of rLxiIsfcL￿. InLludinb* its illLomL And cypcndiiuTC. tor thc y¢ur th¢￿ ¢ndiYl,
hove been properl> prepared in aCLordwice wilh Ilniied Kinbdotn Cienerally ALLepied ALYouniiiiu Pra¢iic¢', and
have heen prepared in a¥Liir(rfan¢e wilh Ihe r¢quir¢Dieni$ i¥l'ihe Companies ALI ?OOfj.
We L(IndttLled (7Lir aiidii in aCC<lTd*iic¢ %4'ilh Iniemaiionjl 8iandord$ on Aiidiiing IIJKI IISA4 IIIKII apil ypplicable law. ()iir
in acc(>rdlliiLL' willi the* rtquiremenis. We helieve Ihal the aiidii tviden¢e ￿¢ bftve obiained is suificieiil and appmpriHi¢ io pryividv
In 4udiiin¥ the Iinuniiul hiuieiiieriix. w¢ huv¢ ¥iinklud¢d Ihal ihe IrtL4*es' iL%e iifihe 8i>in8 Ll)n¥¢rn basis i)I'a4LllUntin¥ in Ilie preporoiion
f Ili¢ ftntstlLi&I btstL'inenis is Jppr(ipridlC.
13ayed Iiti IhL' wi)rk' we hove perfiiniied, we liave nnt idenlifi¢d Bn> mlll¢ii471 un¢ert#iniie4 rl'laiiiibtr li) IIVL'nl% nr rnrmliiians Ihai.
nl'ai l¢&¥l Iw¢lve iniinih% fn)m Mheii Ihe lintinii81 $1oiemeiiL4 are &uithiri4ed lor i45U¢.
()Iir r*1￿)n11bl1i1les Ihe rel￿￿81b11iIie8 of ihe Inisiee% wiih re5refl Io Boing ronrem are in the relev2ni $eclion$ ofihi4
retx)rt.
11IL vihL'r inlonnaiii¥i LI)mpri4L￿ IIIL infiinruiion inilildcil in thL Trustc¢s' RctMIrt oihtr Ilifyn thk f1naDiial siat¢iii¢nis gild £)kir auditor 5
rvtx>rt ihLrei?n. l-hv Iruslees WY resTM>nSible fi)r Ihe LTrilier inli)rniaiii>n Loiiiained wiiliin Ih¢'ln151¢¢5 K¢pori ()ur i>psniiiii on Ihe liiiwKial
stiiiLnll'lils IK>I I'iivcr IliL• iilhir iiif£iTrn#lion #nd. Lx¥¢pl ILI th¢ L*tcnt oihLYW15C L'KpIiLiily stuicd iii uur rcry>rL WL not L'xpfcss ttny
Ivnm u1.￿￿U￿[jle LxTrnLlu&iuik IhL'rwJi.
maleriBI niis%121eineni iii Ihe Iinancial siaienieni8 themselves. It., basod on lh¢ WOTk we hye perlDrmed. we ionclude thai Ilier¢ si 4
M￿terial mi%41aiL'mcni 1)t'ilii4 11ihLr iiiforn]aisoii. wc grc r£qiitr¥d iv rL'POrt that tall.
W¢ havr twthin8 tii rcwrt itt thi5 r¢¥llrd.
In our iipiniun, hu%ixl illl thi wvrk uiidtrtykcn iii thL' LTrfthL' dudii..
Ihl tnli)miulion ¥iv¢n in ihi Rewrt. which in¢lud¢5 thc l)iTcdots' Rcport prcpawd for t￿ pu￿05￿ of ¢ompony
law. r(Ir the financial vear for which lh¢ financial %iaiemenL% are prepareil 1.4 consi41eDI wiih Ihc linancial %iaiemeni%'. and
IhE DireLlors Repori included within Ihe -I'rus1tt%' Kep)rt b¢¢n prepara in aecordanL% wilh applicable le
requir¢nienls.

PAGE 6
INDF.PF.NDF.NT AUI)ITOR'S RF.PORTTOTHE MEMBERS OF BRITISH AMFRJCAN DRAMA ACAI)F.MY Icontluucdl
In Ihe lighi of Ihe k'nowledge and iindersianding Df the charilahlc cnmpany and its environmeni obtained in the course ofih¢ audiL w¢
hdve n(11 ideiiiilied Inaierial missiaienitnL% In ih¢ Direci()r%' Repurt inLluded wiiliin Ilie l-ru51ee.% Rew)rt.
We have nothing lo report in rrywl of lh¢ following miiiers where Ihe Compantes Aa 20(kn requir¢s us to report 10 you if, in our
opinion..
dL4ualL aLLUUftlin¥ rt¢ords have tX71 been kepi. or Tclurns adequat¢ for Our *udil havL nul bcen reccivcl Irojn bThnrh¢s rt01
vi%il¢d by us. ur
Iht finwiciml siaiemenis are ni)i in agreem¢nE with ih¢ tt¢couniinB rttOTds and returns: OT
c<1￿1￿ ds%c1115ure% lif INNlee.s' t¢muneralj0n %peLifi¢d b> ￿re niil nidde,. cir
wc huvc rN)I ￿L¢1V￿d illl iliL' inliiTmdllOii al￿ LxpIJTiaiion% w¥ rwuir¢ lur iiuJil.' or
Ihe'l rii%iee% were noi eniiiled Iii PT<'pure the finanLial %lalL'inenls ITI dLciirddnL¢ wilh thL' Small compwii¢b regim¢ and tske
adv4inittge ot'ihi, small compaiii£* CXL'rnpli￿) from Ihv TryiIiTL'meni 10 pfL'pare o SIrniL'¥iC Rcport or in prcpllrin¥ IhL' Trusiee5'
RepL)n.
A5 ryplained more lully in the Sioicmcni of TruslC¢g' re.4￿n.￿l￿il1lIe% xl i?Iii (In PUgkLkn A. IhL (who arL' a150 Ihi ilirLVtiTh (Il'ihL'
Lhariiahle LoInp￿7> lor Ihe of coinpaiiy IDWI are rl's￿)n%1ble r()r Ilie prei?araiinn of Ihc liiiJnLial %iaitniL'Jii4 and Inr ix'iii
Salislittl Ihai Ihey bpive a Inje and fair view, and fnr %u¢h ini¢rnal ￿￿1￿)[ Ihe INi4iee¥ dLyermine is nec¢4s4ry lo ￿8￿le the prepiirniii>n
In PTcparing Ih¢ firtunriul 510lcmrni.i. th¢ Irusiees are rcspon5iblc lor B5sc%sing ihc choTilablc ¢thmpany'$ 8bility 10 coniinui 0%
¢ith¢r ini¥nd 10 liquid#i¢ tli¥ ¢harilabl¢ iomp8ny orto L4.￿*¢ upcrniion& or huvc no rculislil alicm#iivL bui 10 do so.
whetlierdue 10 fraud orcrror. and Ic) issue an audiior's rtpon thlli iiiclud¢s ouropiiiivri. KL,&￿111abLL, EISSIIMILL IS u hi¥h ILv¥l vl.d￿l￿ra￿L￿.
LXpL￿tL'd lu inlluLrtL¥ IhL' L*OtJomic dL*i&ions ol'uSL'r% i¥kLm un I￿. b4si.4 ul'ih¥s¥ firioii4iul 51alLmenis.
. I
Irregiilariiitr ttre in%ianceq of nDn-LDmpliance wilh laiv% and ri'¥iJlaliiiii.s. 'Ih¢ ohjiclive% i?r()ur oudii to obiain siiftiLiLiii appniprial¢
udii cvidcn¥L Loiiipliwic¥ with law% and r¥¥iilalions th￿ hHVL'
rL'¥uliilion4 IliHI iiiay havi a rnUlLfidl illixl cin t￿ finan£idl sLLIL'mLn15. und 10 rn%p(>nd dppruprialLly Ip idlrttltlL￿ ur 5U5PLiCted n￿l-
due io liniid. li) ebitsin sul7iiieni appropriate al￿11 evidenLL reBardin¥ lh¢ ri%k% al. maieridl nii44iaiemeni (lut li) fraud Ilirou¥h
de5ignin¥ implcmcntin¥ iippropri4li rc5wfk¥¢S ￿nd to r¢ssxxJd appmprimiely 10 frnud vr 5usp¢LILd Irdud idcntitillld durfn¥ IhL audit.
Howeyer. ji i5 the primllry rttpotLsibiliiy ol'managemeni. wiUi Iheiw¢r3i&yhtDI'ihosecharged wilh g(>vem8nce, 10 ensure Ihai ihe ¢iiiily's
U￿￿11(1n$ arc wnduclcd ¥cord8tKC WLih th¢ prvvisions of laws ￿nd wguluiions and lor IhL prcv¥mtiurt atLd d¢ie¢tion of trttud.
In id¢niityin¥ 8md ass￿Ing risk5 of maiiyiul mi5¥taicJT)¥nl in ￿PL￿1 Of irre8ulariiies. includin¥ fr¥L￿, IhL wudil lyi￿¥￿￿¢r)t ILiUn.'
obiainL'd &n LindersiuiidiiibTr ol IhL iiuiiire ut. Ihc SCLlvr, in¢ludin¥ IhL' Ic¥al dnd rL'¥iildiory IrdillL*￿,or￿' Isl Iliui Ihc rharilablc
i(1rnp￿Y vpir8tc% iri Y1￿ huw UIL Lharilablk Lutnpany its CClTnplying willi Ili¢ IL¥#I rngul8lLiry lWrni￿(irkl5I'.
inqiiircd of man4ycmcni. and ihosL Lhjrgcd Milli goN'L'rnJnce. ttboiil IhLir ideniifi¢aiion and &%qe%%ni¢nl of lh¢ risk5 thf
irrL'gLildfiiiL'5. inLludin¥t any kii(IWII JLIUdl. SU>PL*lL￿ or insl#iiLL* vf fruud:
dixus51J matt¢r5 dtKiUI ni?JS-romplian¢L with law¥ and ￿￿ul￿tiOn￿ how linud mi¥hi ￿lur snLluding a¥s¢45mcnt of ho
Ond wherc Il* fJnan¢ial 5ts1etllLn15 may b¢ susceptiblL4 to fraud.

PAC.E 7
IP4DF.PF.NDF.NT AUDITOR'S RF.PORTTO THF. MFMBV.R5 OF BRITISH AMF.RICAli DRAMA ACADF.MY Icontinuedl
A%a rcsuli i)f Ihw pnL¥ilurL% w¢Lonsidcrth¢ ma%1 51gmltirunt low￿ and rc¥ulalion5 ihllt havL'd dirL¥I impaL1 on Ihc finanLi#I btaicincnis
Te fRS 10? C hJriliL'5 5()RP IFRS 10?1. CLl[llPdlllL￿ ALI ?(N)6. ChariiiLb ALI 2011 and thL chariiablc ¥onipan! s ¥ovcmin¥ docLirn¢nl.
WL IKYlom1L￿ audii pr￿Qdur¢S 10 dLieci non-eompliaiicL's which may havc J matcrial impdL T un ihL' linanLldl siaiemL*Is ¥4hicli iniludc
r¢vi¢￿.lng th¥ finanrial siai¥m¥nts ineltJdin¥ thg'l'ru51ccs' RL'POrt, [en￿InIng alcrt to tlLW or unusual IM￿arlI01￿ whi¢h noi ￿. in
accordance wilh Ihe gpoverningi d￿unle￿i￿.
The dudil cn¥8¥¥Xti¥nl liam id¢ttiifiid thL rfsk of mand¥LmL'ni o%.erTide of controls and incomc rccugpnjij()n (Lul offt a% the arn'as wh¢rc
the finmLldl sliiiL'lnL*ll% WLYL. mcisl ¥￿￿￿'pIlbEl 10 maicrial Ini%4taiwLni io tinud. AuJil pr(KcdiirL'5 PLrtÉ)miLxI inLludLxI hili wLre
noi limile41 ia i¢%iin¥ Inaniial journal ¢niri¢s and oth¢r adjii$imeni%. tV21uaiinB ￿le busin￿5 raiionale in rLlatian 10 %i¥pnili¢ani. unusual
irnn5ULliuns und I￿￿5#ll10￿& L￿tLrL￿ into LIU15i¢JL' Ihe twrmdl ¢OUTSC i)t'bubiJics5. rhallcn¥in¥ jud¥mcnls dnd LStimalL'5 5ub&luniivL'
1¢5t5 vf d&*HiI vv¢r inwm
A further descripiiun of our rl￿￿￿&1￿ll1I1L% lur IhL dudii ul. lh¢ finwjctal &l¥l¢mknis is IocdiL7d on Ihe finuiicial R￿￿[1111¥ CounLil's
website ai
This Ile%cripiion lonns Pdrt of iiur a￿lI1￿r.& report.
Ihi% rcw is siilcly io Ih¢ Lharitsl)Ic compun) s m¢mbL'fs. as 8 b(xly. in aLLothtliL' with ('hupiLY J L)I'P#n 16 1)I'lhL I IlTnpttni1s Ai1
20(K). Oiir audii wi¥* bLfli undLrtakLn so Ihai wc Iniglit In 111¢ 4hariTahl¥ LOmPdll>'S lh11￿ niaiiLrs WL, arL' rL'qili￿￿ iu
iatc loth¥m in wiaudilor'.5 f¥i)trff thid fur iiooihLr purws¢. ToihL' lullLs1 LXILlli PLllllittL￿ b). laiv. wcdii IiiilULILpI L)r&%%uJDL r¢%Kxin%ibilil}'
lil dii>iine ()ther Ihun the Lhdritsblv Li>mpdny und tiieLhdfiLLblL ￿llI￿nY.￿ Ineinberb&i u hMJ>. l(Ir <iur audil w()Ik. fur this report or for the
opinivns %Y¥ havi luniiid.
Isn LLL LLP
rur ttnd ciri bLli411'(It'RSM UK ALIt)IT I l.P. Sidilli￿> Audiiur
C'hwtred Aecountan
Portlaiid
S Hi¥h %tr¢CI
Q'rawley
W¥%1 Su¥¥Kx Rl IIU IRIJ
t)￿tl 29110125

PA(:E8
IIRITISH AMF.RICAN DRAMA ACADF.MY
(LImItL￿ by GuarnnlQC)
STATFMENT()F FINANCIAI. ACTIVITITr.
(INCLUDIN(: IY1.()M￿. ANI) EXPF.NI)ITIIRE ACCIIUNT)
()R'IHTr. I'Tr.AR Tr.NI)Tr.1) 3tith April 2112$
Iliire%iriLted
Cieneral D¢5i¥nat¢d
l()tsl
2025
Nuies
R¢51ri¢ied
•024
IrKorn¢ Llldowm¢ni% from..
Charikgble Activiiie4', l.ets Tec¢iv
InvcsimL'TII inLomt
Olhir
?.671.146
1?5,201
?9.96.5
$80
14.0(Kl
15.J85
20.183
ToiMI In¢omln# r¥Juurre¥
1.347.W6
14.0(X)
15.385
3,377.381
? ￿￿0.671
F.1￿n￿[lury, vn rh*rlt4bl¢
a¢ilvlile¥:
AdvancL'mL￿l uf Lylucaiion
3,14¥,?44
17.422
7 573 J31
3.14¥.744
17.4?!
• 573..131
Net ittccime'1ex￿dIiUleI And nei
movL'mL'ni iii tund4 fcir IhL' y
IY9,752
13.4221
IU.OIN)
2UO,330
Tr￿￿Stir k.Iwc¢n fijnds
I l(M).(M)01
Iixi.(x)o
K¢cnn¢ilialiDn of fluids..
luiMI lunits brvu¥lil torwHrd
1.341.4?Q
5,701
1.31*.642
"I*￿1 funds corried forward
1.44.1,281
I(X>.IMN)
1.5$8.982
1,3.52.6$2

PAGE9
BRITISH AMF.RICAN DRAMA ACAI)F.MY
11.imit￿l b), CDU4Nnt￿I
BALANCE SHELT AT 30th April 2U25
2015
2024
Not¢5
rixFD AS5F.1S
l Jn¥ible
Intsngibl¢
78.lljb
57.¥
77.5(N
.11.445
136.(X)5
LURRF.NT A%SF.15
$16.40
C'￿th Jl btsnk Jnd in hJnd
1 ?54.755
2.917255
,8?4,910
CRL.DI'IQELS.,
nwL% fa]linbi due
wiihin one ye4r
11 ?79.27111
14•7.21•
NI."[ CIIR V<LN'I A8SL I'8
1.637.977
l.J97,698
'IiI'I'AI. A%%L'IN LL%% CIJR VILNI.
LIAHILI-I'IE..S
1.773.982
1.507.652
1215.(XK>I
NF.T AS8F.T5
1,558,981
.3.$2.649
ruNr)4 ()r n Ir. c'i IARITY..
Un￿￿tri￿led ¥cn¢Trl fund
jh"1¥n#￿1 si￿]￿rshiP Fund
1.443 *111
1.3413?
3.422
RL*ift¢iL'II S('h411*rNhip fund
15.7ni
'I'O'I'AL b'lJNDS
1.558.982
1.352.b52
I1￿￿￿ a(Loun15 ttre mdred in acLyJrdGnce wilh Ihe s￿IllI pr()yj¥ii)n% i)I' PBrt 15 ofihe Cimipgnii% Ail relaiinb l() small eomTrinies
r￿ltIll& th¥ winuul #&Li)i￿lS Twulr￿ b> (l￿￿p￿71¢$ AL1 ?IK)6 WKI t(Iriir¢ulaii()n 111 1)I"IIK' LU)tnpHny.
'Ih¢ noltr at rA¥o I I its li rom wt ofih¢4e acrounL%.
A￿rOved authori￿ fur issue by IliL' Bodrd on ..*l.I...l￿.￿s.. and siwKd on Ihcir bch￿1.bY
R Johnson
Chair
COMp￿Y nwnber.. 1898640

PAC.E JO
JIRITISH AMF.RIC.AN DRAMA ACAI)F.MY
(Limitcd by Guarnntcr)
STATEMEI%T OF CASHFLOWS AT Jvth April 21125
2025
2024
Cwh IlowJ from optf*tin% ￿￿tIVitIe￿..
N¢t iiicotn¢ tDr thc rwrtlllg PCri(Ki
20&3.l
3212
Adju$lmellts for..
Ik'prL'LiallOII
Aiiiorti.wion
IntL4res14nd rL'nial incon)c
IInLrC￿5¢l I 1X'iT￿l in di'bturs"
In¢rnw:' Itkn'rL*X'I in crLMIiioT5
InCrCa￿ in pwvi%ioii
-14,924
12?5.7(111
11,146.IWIII
8.5?.<X
1204.897
238.4(Wl
1293.ID71
14nN.N491
{176J971
Nrt in operstln% uctivilieb
C*qh Tr)w4 frnm Invo4tlllR ¥Ctl¥lti￿'.
110? 5?91
146.8Y3
Inl¢Test rtceivllble
ental inL¢ime
PiifLlia%e i)I'tan¥ible fixed
Purrh&* of inian¥iibl¢ fix¢d LWL8
6.fi44
2 IN,55?
4.48.%
2(Ml..U17
149.38?)
111.4451
Nel (a%h prnvldtd by Invutlhi
148,776
I23.1￿5
1$1.7411
140.(XYII
NLI rw¥h prnvldrd by xctlblik¥
I40,￿)
I'hmnxe In rthyh ￿*h wulv*k.Dl4 ID thi r¢pDriithx ptrlthd
1$3.7531
2*9.958
(.￿h 4nd ¢ath ryylv*knits JLI 1st M*J
1.308.508
1.0711.850
Clsh 4nd r¥sb wufv4ltLIts JIMh Aprll
tJM755

PAGF. 11
BRITISH AMERICAN DRAMA ACADEMY
NOTLS FQRMING PART OF THE AC.C.C)IINT
FOR THF. YF.AR b-P4DV.D 30th April 202$
C.onytilutit
Elriiish American t)rumH Academy. a rcgi*cr¢d charity, is a comp8ny limii&l by gullrantLY no¢ having H 5hprL' L7pitsI. F.8¢h of the
mem￿￿ is liable 10 coniribuie an amount n()t cxc4edin¥ £ I iowards the L%sets ofihe 0)m￿Y in Ihe evenl pf IL% winding w.
￿￿11¢￿S
llic priiicipal acwuniin¥ poliri￿ 4dopl¥l, jud¥LYncnts and key of l￿til￿10n unwtainty in th¢ preparntion ofthe lirianciaj
stsiemLmlS arn. as follow5..
lil fiw%"i& of aL*%)uJiiing
Ilie lin4uKial btalLYiiL'nls Iiavk ￿￿,11 prcwxl iii aw£)rdwK'¥ %siih ALxuunlin¥ und RL'Wrtin¥ by L'hurili¥¥.' ul'RL%CltntnL'ndLxI
Praciiceapplii4hlt ia ¢horili¢y pr¢twiii¥ their￿¥cOL1nL* in aLLiYdatbce with IhL' Flnancial Rvw>rtinb Sthndard appliLLble iii t1￿ iIK and
Rtpubli¢ uf Ireland IFRS 10?) lseLDiid eJiiioii L'ifective l January *ai41- Ic'Trwrilie% S()RI> IFIIS 10?IX Ihe Fillanci￿ ReN)rtin¥
Siwiddrd upplLLttblL' 111 IIIL UK and RLpiibliL of IrLlwid11.'RS IU•I yiid th¢ C'oinwiiL% ALX IiK)6.
Ilriii¥h Americun L)rama Ae&dL'my mL*¢4 Uie definiiion ol'a public b¢iiefii eniily linder bRS Iory
and liahililie5 or¢ iniithlly
hE￿i)rical cthsi or Irthn.wiii)n valile unlk*4 1)Ilicrwi5c.4ialcd in Ihc r¢lL,v￿lI llLLI)uniinb' rxilii> niiii.
lill (join8 L4Y)cern
"lthe SiTon¥ student numhers a¢hievui in the 2024 finwKial y¢ar ¢oniinua It*J'r upwsftl Irttxl in Ihe finarKial yeur enabling the
ALThlcmy wDtlnur to build ￿￿L'n¥￿¢Th its r4xY¥e b￿.
Los1¥. Any inLfL'tsL5 in LX)s15 will bL' monagL'd inil'nially. Th¢ IivL->¢ar li¥.K ()1 Iikir prL'mi4L'¥ ai Cili>iiLL'sier Is lix¥d until
t)LYeiMk'T 71116, A IL'Jdiii¥ LhilJiiifL pruvidLf.4ublil4 Pilrt ol'ih¢ prEmi¥L'% whiLli is ulsLi lixl'd iiiiiil tkx¥niTrK'T ?0•6. WL IhLfL'forL'
hay¢ %wurily Dfi¢nur¢ i(Inlimed reni Pd)'meni% and reni41 In￿lMe uniil ihai lime, ()Iir landliird4. Ilie C'ri)wii L4isie. huve iioi
indiLiIIL'd Iliai IliL' IL'&Ki will noi bL' K,nl*wL￿ di%(us5ion will in carly ?U?O ￿ lu rLiiLwdl l£?r a turtliL'r t1￿￿. yL"Jr%
%postsr¢ lo thc ¢%¢hHn¥¢ rnl¢ Illl¢tiialion 15 (m¢ trf A¢*demy's key risks &s id¢niifi¢d by th¢ ￿00rd wilh let5 fui our programmi
bL'iIIiI 111VOILLxI and fL￿1V(￿ in l.'S th)Ilar%. for IhL ￿41 f¥%4. y¥8r& thi ALddLmy h8& bcTIL'lillLyJ Irom ￿'L.￿k ¥lirlin¥ cviiipor¢d io th¥
Lis {Joll￿r. SinLc J#iiiiiUy !U!.%. IhL• vuIuL (if yliYliii¥ lias S¢￿tI¥1hLll￿ Hsairi%i th¥ L15 diillaTMn(l ThL' AL*dL'r￿Y IL>iy¢h8nb
1415X's for thL' titsi iimt 111 ￿L￿vLr￿l yLHrs. To Ininiinl￿. IhL' imwil Ot"¢xLh#n¥¢ w¢ r¢tain 5Lltfi¢ieni IIS d<>llllrb in our LIS
accouni 10 cover unliiipai¢d IJS ¢xp¢ndiluTe lor Ili¢ li)rth¥i)ming Iwelve niiinths.
The 13ollrd has. alway4 i#kL'n a i#iiliou¥ vil￿, whcn wnsidirinB Ihc finynLi&I outl1￿k fi)r Iht ALadL'my. 4 vii&W which scrv¥￿ il
WLII liHs i11su￿￿ ilidl Ili¢ ALadctny il¥cll' LlnLY¥iTlbl trom IhL' paiidLiniL wsili ￿ %iiuiiQ ￿￿Lfv& busL'. l.uukin¥ furwurd lo
lh¢ Skulle Ldulii)u% lif Ili¢ iiulLl>lnV.% i>f th¢ kl'y i%￿1T1bulI￿F• lil lh¢ Aiiid¢niy % linanLe¥ hdV¥ heeii applied. Ilie%¢
Ivntyard.'I'he 11(wd is th¢relor¢ of th¢ opinicin Ihai IhL' ALad¢ny ihc ability lo ¥onlinu¢ going LxillL¢rn for IhL' liiNxK4bl¢
fuliire.
liiil InL%ITlIt
Inlyime tncludin¥ lee% r¢￿1ved ITITrTll pni¥Trmme.k dartttlions. invesimeni income and ￿ntaI income 15 ¥¢¢oKnifjcd in Ihe ￿rithI in
whiLh il is L*mLYi and L*PLndiliirL' in IhL PL'riIMI in wliiLli il 15 incurrLd. l-'¥L* rc¢civcd tiir ¢()UThL% hLld in IhL' lollowing ￿ri{￿l are
ghTh￿ a¥ lee4 received in advmL¢. N￿-r￿e¢lI1ahlc appli¥alii)rt fees are TeLo¥pni*d oil a receipi h&qis. All 1￿cl)In¢ rclTri¢s la Rclivilie
kiiig place in Ihe IIK. Incntlle iii [Q￿peCt nf lees is i)f %Lhiilurnhip% ¥brnnied. F¢es ￿K￿l¥<d In?m pr(yBiramiiits snLludL
luiidi￿ di* from Sarnh LawrenLY CiilS¥Be iii aLWTdanc¢ with Ili¢ awynithil lor the LIP.%￿￿1￿￿8hIp of the Losidoii'lli¢air¥ Vri¥iraTn.
Cjcivemmeni b7rdnL% rtL()b7niwJ Ji Ihe lair value cifihe r¢'i¢iY¢J iv rnxeiv3ble when Ihrrt is rv4L%iinable &*giJrdiKe Ihdl th¢
l iondiliiTrn% N¥ill be mvl. an(1 diL' ￿7r￿n1% w'ill k rec¢ivod. A i1￿1 %pecilies perfornunce LIMidiliiin¥ 1% rni)wni.sed ITI Im'ome
w￿,th IhL' [￿r[On￿anLl, £4)ndii¢iins Inlil. WIILr¢ * grani rmrt yyity wt'urtnarKc cundilivTL% It 1% TiKOb?iiIx￿ in inioinc whcD
IhL Prt)¢L'eds arL' fLKL'iVLxI ur re(L'ivablL. A grdni rcLYIVLxJ ￿.f11r¢ Illl rLro¥iiitlClll iMtLYia arc %ulisfaL￿ 15 fLLo¥tti￿￿ liahility.
livl F.￿￿￿}di1￿rc
F.XF*ndiwr¢ is rLrognised Or￿ I>Krc 1$ a Iwl or uinstwrtiv¢ obli¥aliwi to znak"¢ a paym￿¢ tsTr a thiY(I p*ty. it i& pmbAblL Ih
bettlLYllL'ni ￿.111 iK' rLNuTrthl. and the amuuni ufiht obli¥aiion bc miwurcd Tcliablj. IfTLxovwBblc VAT IS ihyT¥¢d a5 a Cost against
Ihc xtivil> fi)T wliiih Ihc ¢%￿ndi￿re was Incu￿1.
CrtiVernat￿t costs coniprise 811 cn5ts involviijg th¢ publi¢ aL*ountabiliry of the Qharily Atk4 its Cl)mpliartee re¥iilaiiM 8￿j ￿ned
lice. 'IThLV co$is include the audii fee.

PAGF 12
IIRITISH AMERICAN DRAMA ACADEMY
NOTES FORMING PART OF I'HE ACCOIINTS
FOR THF. YF.AR F.￿DF.D 30th April 202$
Iv) Fund iccouniing
unrtskne￿d funds aw￿1¥ble 10 s￿d on aaiviiies th31 further any ofthe of A¢4demy. funds atr U￿teStA¢1ed
JTrJs of thc Acakryny which thc TrL&StL￿ huvc dL*idLxl ai thcir di&cr¢isoD 10 5Ct L4ide to fur a 5p&ific PLry¥C. ResirirI￿ fut
dunaiionts whiLh thL' donor has. spccif5cd aT¢ w b¢ wl¥l) u5cd fvr WiLYJlar of thc ALad¢rny's %%ork or for b￿lfiL projcL15
ing U￿]emake￿ by th¢ Athmy.
Ivil fixLyI &sgets and depr￿￿1100
All fixed afL' iniiially rec(Kdcd d (051. tkpr¥tiztion 15 Provid￿ on ￿ng1￿1¢ fix￿ assets & r8ies ￿lCUlated 10 off thc
C05t of ¢xh a5seL le55 their tcsiduaj value& over its useful lifc as follows:
LquiprDeDI, I.￿rni￿lIE attd filltiw
Le&%ehi)Id Costs
25Q/o straighi line
- over Ihe icrni of ih¢1o%¢
As8ei8 are Teviewa for impBtrtnent ifevetsts or¢Wes in circumst3rKYs irKbcale Ihal the carrying amount may noi be recoverable.
Shortfalls bthweert Ihe carrying V￿￿¢0( fixed and Ihelrrwoverablewno￿L4, ￿Ing the hi¥her ofnet rvdlisable valueand valu¢-
ate TecOgni*￿ &% impairni¢nL% the SOFA. A full yearoldeprtil￿Inn 1% pmvided in Ihe yetT nf a¢4uisiiion atwj nnn¢ in the
yiwof di¥wso1.
Iviil Intsn8iblc fLxed &55ets artd 8mortisa¢ion
All inwngible fixd arc Ériilially at eosi. Amorwtion is pmvidd intsthgiblc fixcd assgis at Trlcs £aicuiated 10
rite otl'ihe eosi oleach ￿ le55 their voJuES over its exwied useful life follow5.'
PromthIon￿ films
33 1.'3:'I 5trdight line
A&*ts reviewed for imtwrment ifevenLS or ¢h8n8es llj circunksts￿¢s indic￿¢ Ihw the attU)Uttl may noi k ￿0verable.
Shorttalls bcN'cen lh¢￿￿y1n8 valuL' of I￿ts￿]ble fixi'd IhLYr rcLx>verahlc amount& tK'in8 higliLYofM rcalisablL v81ue
nd V￿uL￿1Th-USt. rwisLwJ iinpaimients in thc S()IA. A full uf amortisaiion is providd in thc year uf aE4Uls11ion and
none in the year of di5kNisal
Iviiil As*ts in the LoutseofLun&111JL11011
A￿et5 in tIK cour5c vf consmdion arc sla1￿ #i wst. Th￿ amortiyoj uniil Itw Oswlable foruse review
foT impwnnenl at wh ryrtiri8 Ilate.
Trad¥ Jnd other d¢btor5 arc recukYJiSed tsi thc bL￿lL￿nLyl amount du¢ Uft￿anY tradedisco￿t offered. PrLFiymmts vBlucd al the
amount preffaid after iakin&Tr ￿CoUn1 i>f w IrHdE d￿aunt5 due.
lil LTcJiiufs and provisi(nL
Creditors Bnd prDvi%ioA% are ￿Ogni*d where the charii>' h&$ a pre%enl nbligation rtsulting from a ￿41 ¢venl thai ivill rmbabl)
resiili in the tran%feroffull(Ls to a iliird party a[￿ the dmouni dut 10 seiile ib¢ Iibligaiii)n Can [ne￿ured oreqiimaied r¢liahl>.
credito￿ And provisii)ns 8re nomiauy rtYogni8ed ai their S¢ltlerneth amouni tfter 211oMing fLYany irade difowtt15 diie.
ljank ￿m)winb•s are Iiiiiiajl) tECOLyni5ed ai the f￿r vali* nd of any iT8nsaaion CO￿ dirt¢ily altributable to the issue of tt
M)￿Ing insmJrnLmi. IIKry arc thcn 5ubwuentty 81 amilt1￿ ci)51.
Ixil Trinanc￿l
The AL>demv onlv has fitLan¢ial and fin8JKi41 liabiliticsof a kind thai 4ualifv &% b&¥'ic fir￿￿1￿ instrull￿n15 uThJLY SeL1ion I I
of FR% 102. A&8ir fillanci8J instruEnL￿tS ur¢ snilially rLKogni%MJ ai tr￿aL*l0￿ valuc ar44.wb4uenily mLYSLwed at ihcir sL%ikrynclll
v￿￿e.
Ixiil OpLYating l(w5
R￿thIS paid under OP¢E2ting I￿￿e$ are charytyj 10 income on asThtghl l¢n¢ basis ov¢rthc Ic&se lemi.

PAGF. 13
BRITISH AMERICAN DRAMA ACADEMY
N()TE% F()RMIN(: PART ()F THE ACC()UNTS ICONTIIYUEDI
FOR THF. YI:AR F.NI)F.I) 30th April 2025
Ixiiil Forei￿ cL￿neY Iransadions
'rr8n5adioAs in (Oreign currencie$ are rec4rdd * ¢he rate wli08 ai the d￿t0[the transathioTL dl ¢JitrerencL¥ b¢in¥ tak.en 10 the
iM)me eKpLyKli¢ure accoum. All ￿&￿r¢S •t th¢ ye8rthl are tr8tLslaiLNI ai the rnle wling at thc Sh￿ date.
IKivI P¢nsion schem¢
LVlllPaOy OPiYUIL) &d¢ll[￿￿ rvntrbuliun skhLyne. Lolttrib￿lonS 10 thL ¥Lhcrn¢ 10 tht StsiLYncJii ofFinancial
ALtiVilits in IIK, HL£ouniin¥ pcriod 10 wliiLli Ih¥'y rikntc.
Ixyl T¢rmitwion
'[enni￿10￿ ￿rIL8 are re¢o¥nis¢d immediaitly 18 ￿ eX[*n￿ when the company is d¢monstrsbly ¢ommill&l 10 ienninaie the
ctnplvyiD¥nl ul'yn ¥tnplvyL*' or 10 providi, ¢L￿TI1n￿lI￿l hciiL'Iiis.
Ixvil Crilical judbmeni t￿lMa1
Etslinldt￿, &8$unwi(kng and jud¥menii art CWlinu8lly evalua1￿ arnj are on hi5knri¢d eX￿en¢t and oiher facior& in¢ludin8
exsKYiaiioN4 Df future evcnL4 Ilwt believcd 10 ￿ reL*onohle under ￿le circumfflanccs.
qignifsE4ni ¢ife%iimiies wid judy¢iiiwii$ i11clud￿ priivL410rt5. 8t￿ Ihe* h4v¢ hel'll establisliLxI l()r Llie c(xs1 ol'reliiminB Iht
ildinb. bts¢k 10 11$ i>ri¥iiial ci)ndiiion ond for Ihe TedttoTriion cn515 re4Uited by tht lease UbiTeemeni.'IhttY ¢41im&i¥d
n Ihe be41 iiilonnaiion 4v4il#bl¢. and hisietical inli)miaiiM where avaslabl¢.
IniL*tmeftt Inwme
•0•5
ank iniere41 Teceivable
LllL4XrtL'
0.644
218.557
4.485
2UO.4117
2?5.201
(jr￿￿. 111vL￿11neni incomc rnYeivL¥I in yw £nil12024.. £nill in rL*fkL1 iifrc5rriclcd funds an(J £nil12024.. £nill in r¢%pLKY of
duigiiuT¥d I￿1)d$.

PAGF. 14
BRITISH AMEtUCAN DIL4MA ACADEMY
NC)TES b()IiMINC: PART I)F THE ACC(IIINTh ICC)NTINUED)
FOR I'HF. YF.AR F.NI)F.I) 30th April 2025
Ch*rltsbl¢ ¥dlvlll
2025
2U?4
irvci LYi¥I.¥
Scholarshirts ynd 8rants
Ace0mMod￿$0n
(￿LIl.￿L. fth and retr￿l￿s
1LTLhLrs
PT￿lUc110￿￿
F.xLursiuns
(XhLr iour5C ext￿1￿5
Adrninisirntive %laff ¢0slS
I'rth￿rtY t%￿[L
Trav¥1 ¢xpL￿￿¢
i)IriL¢ L(K4t%
Prolti%slon￿ f¢¢5
Markeitrs&i and fundrdising
I)ep￿IllIan
thnk & iTrxJii Lard chHrge£
'(￿1￿1 exLI1￿7¥t Ii)ss l (¥ainl
(hkn expeii
220.709
976.479
168.182
81.5.965
13,462
261.953
353.701
131,4US
•4.662
374,<￿8
5£5.780
19.140
30.347
12,fi94
199,IM)I
34.421
ry3.$03
1?.474
23.193
311.177
24.X98
I7.1￿0
1.3.•45
3,138,651
2,5411.731
(ifJw17J￿1ILt LIMIJ
Audil lees
32.4
24.(rf11
24.fANTr
Advan¢LyThLnl ofduration E(Lsts
3.111￿5}
2..$7.1.331
Of iliL Icilul c¥wdiliLrc Il* thtvanL*'rnLmi Url￿￿￿9110n forthc y￿r ot'£J.171.05112024.. k2.573.331k £.5.38512024,. £10.7091
Iriijn ￿'sIn¥ll￿ fundl 4nd L17.427 ?U74.. £19.0(MJl trom dc3i¥nai¢il fund&.
tsITcuJlx TruNlteN' rtmunerntlDn
2015
341.707
34.3.871
14.?02
14.236
'ial 5C¢Wity ¢OSts
PwL8ion costs
13.7?7
393.9W
ThL*e wa5 1 L'mployee 12V24'. nil) with cmolumcnts ¥TCHtcr than £70.(MM) bui Its Ih8n £¥OMK) fvr wlK>rn wion conthbuii£x)5 or
£3,67$1?074.. £nill w¢tE pgid.
nicre I cmployL*' 12024.. 1 I with iYnolumcnL4' £80.0(X) les5 ihan Lg0.WO for T￿lon coniAblltiiMs of
£4.IYI I?U24.. £4.0931 wi'rr FAILd.
Thr kq trwwLmt per￿nn￿l uf the ¢hsrity during the wMpris￿l ihc MBna¥in8 Dirttor. the and the FuwKc Dir￿r.
Ihcwml ¥llnployLT tr&'ncliisol tli¢ k¢y mana¥cmcnl ￿r￿n11¢1 ol'ihechdrity WLYL, 12?I,U2?1?u?4.. £?4Y.8561. Th¢cmpIoyer'sn￿i0nal
insiirJnL* Lulltribuiions in tE5pLKX of IhL kL? m*nMgLYlIL'nr tKTsonncl WCT¢ £29,w {2￿4.. ?5.711$1.
In addiiiofy travcl ¢051s of £351120?4.. 15171 werE rcirnbutscd Its 2 {20?4.. 31 TnLN*CS.

PAGF. 15
BRITISH AMERICAP4 DRAMA ACADEMY
TES F()RMIN(: PART ()F THE ACC()UNT** ICC)NI'INUED}
FOR THF. YF.AR F.NI)F.I) 30th April 2025
There weK. 8 employccs1_7024: 8lto whom rctirEm￿I bthcfjts WLYL. ac£ruin8 uy¥Jer a Jnon¢y purrhw s¢hem¢.
'I'hc averagc numkrot'lull tim¢ ¢quivalLnr eMploY￿Sduri￿￿ thcycar w¢r¢ os lollows..
2025
2024
No.
Administrllive
N¢t Incom# fDr th¥ ycMr
iIIWnlL lor thL' YLW is smed aftcr Lhargin¥:
2025
2024
luts¢s- pn)perty renthls
tkpreciaiion
Am()ni$alion
Awlil()r's trmuntra11(￿- exiernal audit
35U.(K
34.924
15,450
30.(KKI
3?8.¢X>8
24.(
T#thRlble isjtti
Le4￿b01d
4ulpmenL
Tolgl
titiln%J
Ai Ill Moy 2024
Addi11￿
49.522
145.429
35,321
At 30th April 2025
49..122
141.4?¥
IW,Y50
IXTreLialiiffl.'
Al I. May *024
('Iwi¢ for Ihe year
29,714
48.?06
2.5.020
77,920
Ai 3(hh Arrril 2025
39,6111
73.•26
Al J(Mh April 2025
68,202
78.IIK>
Ai 3(hh April 2024
19,808
57,701

PAGF. 16
IIRITISH AMERICAN DRAMA ACADEMY
NOTFS FORMING PART OF THF. AC.'C".oiiry"f** {CONTINUF.DI
F(IR'THE YEAR LliDLD ￿th Apri12025
likn)n8lble flxtd *8yt
PromotloDwl
Iman
Webslll
Ax¥ets under
Cost..
Ai 1° May 2024
Addiiith
3?,445
?1.104
32.445
19.8(MJ
Al 301h April ?02
53,549
19,8
7J.34Y
ikpr¢ciaiii?n',
Al Irf May 2024
Clw¥c fur lh¢ ye4r
15,450
15.4.50
Ai 3(hh A￿1 2025
15.4.50
Nei th)k vaJi*s'.
AI.30ih April ?O2S
38.1
19.8(X)
57.899
Ai 31)th April ?024
32.445
ritblun.. AmLtyuils rnydvablc wllbln oDe >'r4r
20?4
S#rth 1&Wr¢n￿ Lulleyc
P￿PYIn￿lS llrKI aLTrn¢d InLom¢
r¢Y d¢bttTrr¥
944.Y48
717.30?
2.%U
27.5.V17
4V.*.19
?46
516.4U2
SHr4h Coll¢g¢ 8Lrr¢diL¥ Ihe Londm'll*atte Pn)s￿nrne ￿mI wJmini51er8ihe aTh)lic4tipiLs priK*.SS
10. Credltors: Amflllnts fglllni due wilhln oneye4r
2025
2024
.1 rnde Lrvdili)rn
T8xaiioii xKial 5crurity
tr.ees inv(iÉLed in ￿Vanie I%L% notr I I I
4nd dcfrrred iDrixn¢
()thtr LfLxli1thS
47.41.f
(A)7.(A4
0.752
3.058
25f.448
IIM.43Q
2.l¥Z
.279.278
427.21?
InLludd within uiknirL7dilurs #rL' amuunls iuidlling £3.05812Q?4.. £1.(K191 iii T¢spLxI vf VUtstsndin¥ PL*5ivn wntsibutions.
t¥rr*l inci)mL' ryTrL'ts¥ni$ r¢ni r¢Lcivcd in *lvanie and Icrtlll& £79.115 1?024.. 120.12.5).

PAGF. 17
BIUTtSH AMERtCAN D114MA ACADEMY
NOTES FORMING PART ()F THE ACCOUNTS (COP4TINUED)
FOR THF. YF,AR I)F.D 30th April 2025
Invoi¢ed in advance
Immay
Ft£s in￿.0](¢d in rw of fdllo%¥in¥ >ear
R¢le3sed lo Slalemeni ol.frinanci￿ AJiviiies
255.448
607.(￿￿
125.S.4481
Ifil.241
?55.448
BalgtKc w 31P April
)7.(A4
255.448
Fetr tnvoIc￿ in 8dvyn¢¢ rq*esent fees receiv￿ from 5¢wl¢nts PriOT 10 the yegJ cnd for th¢ followin¥ sumtller'5 ￿ld¢n¢t￿l
ogtsnJme5.
12. Provtsion for liabilities 4nd cb¥ry
20•5
2024
Bdance al Isi M8y
Charga io Stale￿ent ofFin8LKtai Aaivilies during th¢ v¢xr
155.IKR)
94.(KM)
B￿all¢e ai 3(hh April
215.(KK>
15.5.th)
The extsmai rede¢oTaiions provision TeL&Le4 10 gU￿qUen￿lal ￿￿1n[ing work Tryyirryi io ￿ uth4ertaken by (he ALwiemy urth ih
Icrms of thc arisin¥ DVLY the period of thc i¢rww and rel*ing 10 8enLfdl wrdrand 117r.
In 2023. a dilapidau'orL% provision ¢sthlishtd 10 cover refurbisttffl¢nr rosts should BADA relLKale ai th¢ ¢nd of ils le&%e.
F.xl¢rnMI
redrfQr¥t￿￿S
DIIApld&tionJ
Tolgl
105.(KK>
3i.(MM)
50.(KK)
25.(KK>
155.(KK>
60.(MX)
cha￿'L*j 111 S¢4wmcni of Financial Athvilits
Ai April 2025
140.(MM)
75.￿)
13. ii¢wRdllxtknn ofmovements on
MovemL'uts resources
In¢ome
F.1[￿nd[￿re
Bttl*rttt ljt
Mgy 20Z4
TNnsferJ
bttween funds
Bal4oc¢ it 31hh
April 2025
Llnre51riL1ed lunds..
lJnrestriffled Cjenerdl Futtd
Designaltd Scholarship fut
l J43.529
3.422
3.347.996
14,(KK>
13.148,2441
117.422}
Iiix).Thx)I
loo,(
1,443,281
Resthcted Funds..
Resirict￿ Scholarship Pu￿d
5.701
15.3851
To
IJ52.652
3.377J81
1.558.982
DesigmwEd.&.hDlmhiTr fvmpkl
This i5 Bn unrcstnLIL'd dL￿lL￿a1ed lund c4)mprisin¥ lunits Ihc'lruslLYS hav£ 5a aside trom IhL' Licn¥TJ l.und io LvnrribuTe 10 Ihc cosi
ot. srh0l3r5hip￿ awarded atKI 5UPFX)rting specifie prograJnM¢s. Scholarship5 are 10 individuals at ihe di￿re1￿0n ot. the
A(adL'm>. t)uring thc ycar. IhL' dL'Slgn￿LQ fundb wcrc lully uliliscd and the Tr￿tee5 deLidcd 10 trnnsfer £lW.IW trum thL' (itnernl
rwo ￿thL. lknignateil Scholarship fund w fund %hoWips in fuEurvycH
ReSiricitd.￿h(JlUr￿$I{ll Fwlll
This 1% a reslriad fund con￿nIng diKwtions m* to the A¢ademy 5￿cIfiCallY to fund ￿h￿10r5hl￿ lo ￿ud¢nts.

PACF. 18
BRITtSH AMERICAN DK4MA ACADEMY
NOTF.S FORMING VAKTOF THF. ACCOLINTS ICONTINUF,D)
FOR THE YEAR EYDLD 3Uib Apri121)25
14. All4lys1i of D¢1 fvnds
Gtn¢r•l
okntshlp
Fund
Resiricitd
Fixed a55Cts
Liirrcni
C'urtmi liabililil
Provisi¢iii.4 drMI liabilitie5
I30.{￿$
2.801.5.54
(1)7927¥1
I215.(￿)
ity).(xhi
15.701
11 ?79.27¥1
1215.(KN)I
N¥1 30di April 2U?5
1.443.781
10(>,(
15.701
1.558.987
S¢hoL•r¥hlp
Rwtrld¢xt
Fun
Tut*l
l.ixcd
C'iwT¢ni
I'urr¢ni liabiliii¢J
l>wvision
l(N.¥54
1.815.787
14*7.2121
1155.LNX>I
J,422
5,701
1.824.gllJ
1427.*1?
1155.(MXII
Nd Lwi% ai 31hh April 2024
,34.1.529
-1.422
5.701
1,3$? 652
IS. OptNilllA lewt rommltments
2025
2024
'Ihe fiiiiife minimum1¢&se undtr nona¢atwellAble oFrniin¥ It&w for
WIJ buildin¥ ure,.
wiiliiii orK ylur
*ween one and li¥eyeBf5
.15U,(W
233,333
35U.(XN)
5¥.1,.1.4J
The IcTrtiil fuiurL' Ininiinuin rentsLI inc¥me underihv SU￿1¢￿S¢ of th¥ buildin¥ HTC..
wiiliin L¥K >¥ur
YWLtYi c)nL five ycors
1¥7.813
The 10 5uble￿ a w¢ivn ot'ih¢ prEmixs run5 ID ionjun¢tLi￿ with thL' primary building Ic￿.
16.
T*i*tlo
'1￿¢ LX￿lpiInY 1.8 a rL¥isier•J Lli8rriiy ￿ld su¥h sls inLam¢ and ¥aiTL4 f4llinLi wiihin Se¢iiotL$471 ￿ 489 i>fihe C(IrrA)raiii)n'l ￿ A
2010 orSeciii)n 2%0 of Ihe l axation 0l'1'hargeable C?ain% Act 199•
vxenipi froni c1)r￿￿til)n tLi l(1 Iheex￿I IhAI Ihey aTeappliLxl
10 lis chariisble objttiiveg.
17. C.apil41 Commitments.
"Ihcre are capi1￿ iunimiiments of £19,800 &8 April 202512024.. £13.9041.
18. Rdaitd p*rty tryntsdlotts
In the peri(xJ 10 31 D￿ern￿r 2024 ¢￿4￿1t￿Y fee5 of£3.495 weTe Fold w HEl¢n Ain5WOrth Actin8 in 8 fttelance c8p8ciiy ￿or 10
herapF¥)inimenl &4 Finonce L)ire¢ioron l Janyary ?025.