Cofflpany Reg•Stration Number: OD883234 {England a Wales) Reglstw•d Chariy Number in En9land & Wales: 305992 D&AD IA Company Limited by Guarantee) REPORT AND CONSOLIOATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 AC4RQQWM 011W2023 COMPANIES HOUSE 51
CONTENTS OF THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGLIST 2022 Pag• Rerh)rt of the Trustees Legal and AdHnrative InformatiL Structure. Governance. magennI Objectives and Adimties Achievernents and Perfcxmanee Fina01 Revw Plan lor tutur¢ peri¢s io stsiement of Twstee'$ RespsIbles Repjrt of the IndepeThJent Auth"tors 12 Consolidated Staternent of FinawKia Aclivths 15 Balance $ts- GroJp and Charity 16 Consolitlated Cash Fkn¥ Statement 17 Note5 to the Financial slaternets 18
REPORT OF THE TRUSTEES The Trystees, who are also director5 of Ihe charity forlhe purkw)ses of the CLwnpanie5 Act 2006. pent IhEir reF¢Jrt wth the f nantyal ststements of Ihe tharity for the year ended 31 Augusi 2022. The TnJstees have adopted the prOViL of the Stat8ment of RecomrneThJed Pradice applKable charities preparing IheSr accounts in acc(Kdance the Financial ReportirvJ Slandard aprAirae sn the UK and ReputAK ol Ireland issued in July 2014 (The FRS102 Chaiities SORPI. 1. Le9al and AdMlnlstr•tI InlomMtlon TNstees. Mefflbers and Dlrectors RKhard Brim IPresidentl Naresh Rarnchandani IEx-President) Rebecc2 Wright (Deputy 5enti Liza Enebess Resigned 1 March 2023 Ravi Amarantuga Hitthcc Furn Jthanne5dottir )inIe 1 March 2023 Hannah Kdty Jonathan Kneetx)h8 Kjointed cn 1 Marth 2023 Russie Mies ointed 1 March 2023 Jack Renw¢d( cheYr RObSOft Kwamena Tayknrayftyd Re&"gned l Marth 2023 Ch•lmian Timothy Lsndsay Company Se¢retary Dara Lyndi K•y Managem•nt P•r5¢nnel The seniN staff members to whcmn the day to day mwwement of the charity is ddeged are listed bekr•4.' Jo Jarth50n lappK¥nt•J November 2022) Dara Lynch Pippa Irvi PBUI Drake Chief Executive Officer Cl¥ef Operating Officer DwJital Owerlor FouTrJatson Director SamrrA Vaughan 001 Keenan Diterkn of Partnership5 Awards ctor Laura Kel 4athebro D1ctor
REPORT OF THE TRUSTEES Registered oirt¢e D&AD Ltd. 64 Cheshire SC Lon¢Jon. E2 6£H Auditor hlocxe lth"ngst(N) Smrth LLP. Chartered A¢cxxJnlants 6th Floor g Appcld Street Lond¢)n EC2A 2AP Sollcltorg Lws &'lkin 5 Chancery La. Cliffr*d's Inn. London. EC4A 18L B•nk•rs The Royal Bank of ScrAland F4¢ London Drummonds. 49 Charing Cross, AdrniraltyArch, London. SW1A2DX
REPORT OF THE TRUSTEES 2. Stru¢lure, Govern•¢e and Background The charty was lorrned as a emipY knrted by guarantee in 12. The regstration numter Is 00883234. The Charity CINT¥nissIc registrab nLmber is 305992. Objects The Charity's objects are SFrtfthlty restrided to ihe Ic4bw"ng.' To advance the educa11 of Ihe fxjrmiunity by encwragrvj the aoicatirm arKI commissh?n ofgood desgn and adverti51rrfJ in communicatsons of all ndS by pwding. presenb"ThJ. organising and rnanaging exhitrAtions, puL4icafrons. twrs ol ¥arKyJs Britssh and foreign ulies. dasses. leclurets, seminars, tu1laIS and olher e(kncational activilies. Appoinlment of trustees Any persrffl who is willing as a Twslee th i¥ permilted by law lo do 50. and is elNJitAÈ to bec(me a Truslee in accordance any rules tr by4aw5 made in a¢e¢dance theArtides ofAsscoabon adopted by special resdution in 2017. may be aFwointed to be a Injstee by a retir of the Trustees. po$ The Board of Twstees has ovewall reswnsL¥lty for Ihe strategc kadewship. govemance and aFpropna(e management control of D&AD. It has the wmary fvnciKffiS'. To ensure the ¢YgaiNSats stay5 fr%Se¢l its rnis5n aThJ strate9y. To make poly decis$. To provide supp(xt and COnstrudp lo the mana9Bment team, in parbu4ar Ihe Chief Operating Olficer 8nd Chief Exeqjtsve. Members of Ihe Board of Tm5tees are also DYectU5 Lrfthe tharityfor Ihe pUSe$ ol ctywny law. Each year VacaleS for new memter5 of Ihe Board of TTrEtees arise a5 exisb.ng member5 retire. These vawicies are availatAe to cr8ative waclitioners in adve5ng companies. desvJn CL¥npanies. other creats"v companies, business. museums galleries, and freelantr respethvety. The candid31es 51and for the vacant pogbons will represent one of these industries. Su¢¢essful candmaales ¥tho 111 the vacanues for each Industry sector are elected to senfe as trustees the charity's Board with effect from Ihe (x)nclusion of the September meeting of the TnJsiees and hold office lor Ihree years l¢y fcKJr years in the case ol a Tnjstee who has hdd ihe position of Deputy Prestlent in the third year ol office). The tie$ of Asstxiaiion a150 prowde that the Iruslees may appExnt a member. vtho h35 nol elecle(J in Ihe pre5cribe¢J manner. lo fill a vacancy that has arisen the Board ofTrustees. The COn"DUat of suth an appxmntmwt must be approved by Ihe members at the September m2et.ng of the Trustees. The President 8nd Deputy President are appoinied from fv serving Tfustees and take office a period of one year from the of I September meeling of the Trustees. The office of pdent altemas bets#een thÈ srx ffields of rjeats'wty desrbelI above and i5 de1er1nid by the 5eMry Trusiees. Trustee inductlon and training New Trustees undergo an orientation 5esSIc to brief them cn decT5KJn makiw prceSSes. the business plan and recent finanoal perfcrnnces ofthe charfy. During the induclM)n sessim they rneel key employees and oiher Trustees. On-going training needs are xlents.fied as apwopriate ad$Sed through a variEty of means, induding Board papets, leadership days and 5err¥naFs.
REPORT OF ThE TRUSTEES Remuneration polivrf foff Key Iljanagement P•15<1 The Tru5t¢8s and the senw managem8nt team ()>xwse the key rnana9ement personnel of the Chanty in charge of running and operztiThJ the organisation on a day-t(1aY basi5. Details of al Twsiee expenses related party transactions are disckjsed in rKJte 16 and note 27 to Ihe acwjnls. In or(lerto recruil and retsin ihe best staff to safegL43rd Ihe services wowded to tyJrbenefar5, ihe Trustees eonsiderthal il Is imrrtyiantto (Kfera crffipe1Ve salary p3(knge. as ben¢tharked wlh milar sed charitae organisab"ons. The salaryand other rewards (annual leave and pension cl11}0fthe ChEfExecutive a tenchmBrked and approved by the Trustees on appclnlment and are rgviewed annualty by the Trustees in acwdance with the contract of emF4oyrnenl. l othef slaff rLqes, ¢bjIng the sew mawement t. are evallwied against a number of criteria, including sPOnSbIIrtie5, skill$ and experb.se requir&J. These detethine 7•tsh band eh rcle lies wthin Ihe pay scales. Ncrnally, member5 oflh8 5emior management ieam are reL7Urted to Ihe¥a55igned salary band. Occasi(mally. Ihe Trustees will deteine rf Ihe raie of pay needs to be amended ro take a¢c(wJnt of sKJnifi¢ant extemal factors affecting recruitrnent Io a 5pecffic rc4e. Staff reve a ian9e ol enhan(zd benefits e.9. sck pay, matemitylpaiernity pay as wdl as annual leave aTrJ pensMW eIn.JOn$. Organisatlon Owing the year the charity ¢weraied frcfft its offices located SIKKethfth. alllw)u9h, as a di impact of the coronavirus pandernic. and in acctrdance wilh goveMrnt gUNjan arbJ SInOn$ Imposed since March 2020, staff have expeiTenced pen&Ys oltx)Ih Iv)me based and hytryid wthU. The 8oard ofTrustees develops 811 ofthe charty's objectiv85. Strategies toddwerthe o"ectivesare devekwed by the chanty's ChiefExecutwe and ManagemenlTeam. lrnplementstiQ lies wilh theTeam DirectNs and their colagUes.. Awards. Education and Prole5sional Developrnent. Partnerships and Mernbers, MarkeTh"ThJ, DvJitsl and 1nforrnab.on Syslern5 and Finance aThd Operatsons. A nonxecuve Chairman also provides advKe and asststsnce 10 both the TnJ5tees and Ihe Charity's Management. The Board of Trustees meets 10 10 12 time5 a year. Subsidi•ry Compan5 The charity has the foltrm'ng w41Y cMrd subsidiarres". DIthD TradiThJ knmited. the c&iectives of wlith are to JjmlS1er Ihe Th>antable of the group. tts proffts a donated lo the thanty under Grft Aid. USA INC, a trading company. D&AD Hong kng Ltd, a IradiNJ company. Risk management As part ol its tsInesS dannry and review rmdures Ihe Intstees irnpkniented a risk management straiegy, whith cornprises.. An annual rewew of Ihe rnajor nsks. their imprt lh8 likelihcé ol cmlrre8 wthith the charity may lace," and The establishffnl ol the systems %thith the charty uses to mibgaie the risks whith have been idents.fied and to rrrfnirnise the ten.81 inyct on the charity shwld any gf those risks maleriali$e. Key risks hlentsfied indude.. loss of key slaff IhrrNJgh resignatson. Ihe charity lacks direction, strategy and forward planning. 8oard of Trustees dorninated by one or h¥0 indivhluals. Trustees are benefitin9 from charity le.g. remuneralionl. cofflpets"lTron. event cancdb1i, bwlgetary contrd & financial plannir*J, fraud and error and swiificant global events.
D&AD REPORT OF THE TRUSTEES Th¢ level of rl$k lo the ¢h¥ity's incoming rn5uur¢•5 The trustees recognise that the tharrty's incorne sthjrtrs are lY depwdent on lunding from Ihe ueative industrie5. the media se¢tNs and the busness community arKf thal levels of Inclxne fr(yn these swr re highly sensitive to gthl and nati4 ecC0m1C and pj1"Cal conditil$. CLSeqUenty, the trustees are of the Opini that reserves should be generated lo a suffioentlevd tg Wotect the charity from averse eEonomic conditions and any conse¢wential maleriJ dedine in incoffe. Unrestrteted lunds a needed To yovide funds to cover Ihè costs of its Charitab actswbes To 8drnln1stratk, lundwai5ing artd swtxirt Ojsts whh the tharity eId not ftJ)clh To prwide funds to cover Ihe cost of its ot4igalions to ifs rnembw5 and supForters To tover the shortrall in funding of edurtvW wc¥ets (thTh¥ise finatKed by sps015h1pS c donab.ons To provide [dS an a(kquate infra5tructtxe to oTh14e fJ)ty to operate elfyienlty Reserves policy The trustees have Csj¢r8d the effeds thr5e c(mditsons the acts"Mties ol Ihe charity and at thi5 time are of Ihe cpinion that the chanty aim mav)tsin unrestythd fesetves for the folloWg purtK)ses". worng CaF¥ta equ to a 18vel of moth, nmniThJ c(%ts to mrtpJale pthntial brning eI belween exdItU ONjal5 and irKorre rttpts (six rnnths runniThJ costs equate to apKKoxkmatdy £2.Iml.' lo promde ld1t1(}8l fvnds to mitale the impact of twrf¢yeseen vc4atiI.e5 through svJnfficant events," lo maintain an adequate infraslrnctwg to enable relevant Strate1 in Ihe event of wch ConditiLS., to fund growth and devekwnert in dwty acmies. Free unrestsiLed reseThes ti)tal £5.873.833 I%J21.. £3.876,5041. The re5ffts poltcy is and awd by trustees basis.
REPORT OF THE TRUSTEES J. ObJecti¥es. a¢lfvltks and publ1¢ benefft statem Summary of the obltthes ofthe ¢hailty The main objective of the tharity is to a¢fvance Ihe edtyxticffi rA ts ¢cmmunity by en(ouraging the understanding, appretsation and CLwnmisg(x) d good ijesign army advertisiro In communications meéia of all kinds by providing. presenbry. (ganisIng and managiry exhib1bc. puNI(ati$. lours of various Brits"sh and foreign cities, das5e5, lecturets, semirw5. tulorials and olher e(luc4tional ale$. The thity's Missi is". To Charnp excell in crealbty by Se. iThJusty SI¥$, To educate and the next generation. To promote Ihe tltiOn ofueatiwty, ikn and lrmvatl to tsjsiress suc. The tharity's strategic aims a io.. Develop the relev8n¢e ol the charity's actiwiies to rts benefir#'arw. To rD"nue to raise the pYofde of Ihe ¢harrty. To increase Ihe number cl Partpants and beneftJ"wies of Ihe charity's aims and objectNes. To devd( new in atttrdwce Ihe ¢haity'S cii"ethves. To ¢ate signrficant 5wF4use5 Ihrwgh commer04 acbwbes In cfder to lund the D&AD Fwnd8ts' an¢ advan the cavse of ueative educalion. Oblectlves forthe year In 2021r22 the kn'tys wnap81 objeciNes kn Ihe tTe.. To continue lo buld to kvels etrIne(l by Ihe tharity's reseryes Fdy. To C(b.Ut to deveknp a lulty legrated IxarNI 0)mnxJrications and meting strategy across progranvnes. To Continue to repM)s. the educati¢ model by creating Ihe D&AD Foundation to supptsl O&AD's mission to cekbrale, award and prornote excdlence in busines5 crmmunication arKY dewn. To conbnue lo rais¥ Ihe charity's To conb.nue ¢0 invest in the tligilal strategy to (lIne witent to O&AD's stakthders and to redesign D8AD as a digtsl firsi organisati. To ¢SIder Ihe rc4e of rnember5hip wilhin Ihe orwmsalion. Strateg1•$ for achieving obsectives and s1gnrfiCa activilieJ The charity encourages regK)nal and interna.0al partirip3tion in its acbwbes by Lrfflmunication with the creative cornmunsty in trose areas through its variws prcgrammes, exfv'bibcfis and publtcations. The charty researches. and assesses ils acb"vitses aThJ ertsures that rf£ is develorAng and deliverin9 relevant wogramrnes by way ol its kleth3e manageryrt system and with its parbapants and benefitiaries.
D&AD REPORT OF THE TRiisfEE5 Public 8enefil Statement Th8 charty's benefits are as in accordance wlh ts awrts.. The provis of education to trTrai seclhy) of Ihe wblic 11)al has an Inter in ueatNe exrllence in design. adverti5iThJ and any other CommunKa"0S rnedia. The p1onwtic ofthe appreck7tion ofthal creats.ve excelenca. The benefts are defvered in the fdlowing w3ys'. A Series of putAK lectu thrwglKJJt the year hjsted by seThor and inlkwitial SFeakers in lh1 particular subjed. Courses available to the P1¢ Ihat wiahse in parb aspects of Lyeabvity rOUgh the charity's Workout pwjramme. Provision of educational relalionshik ueauves ts IhcGe in higher thJcab"on through the University Nets¥(yk prcJrammB. Running an awards scherne for undergraduates reading sut¥'ects a5sociaied wilh the charity's aiff 3rKI objectives aThY tch attracts some 3.0( entries eath year. The entry fee is at a nominal c05t. Prowsion of a free enty of graduate ueative wcrfk thal atir8Lls %)me 7.C#)O wslor5 and sbJdents. Provisry)n Off Intemet lo frcffi lales¢ wofeSsi¢al anLI student awards vthith achieves scme 4 rnrflion views per annum. Prow5Jn of an affordaNe tk was rea¢e by a dKilal versi in 2020 that Cal09ve$ the winning work on a ccfflpletdy newty written websiie 1¢h ¥•ill eventualty cover all work since the in¢epts"on of the charity over SO year5 ayo. Tre digiW 4ky•&S for a rn0 ¢JIvee and accessible reach io the c&al rxjmrnunity During the year Ihe charrty conbnued the in"alIve5 launched in 2011 •med to benefil graduate ernOyment and invdve the public in the creative )seS arKI Ihe best in cxeative work". The Graduate Academy- IPM"s iniliative teaches gr&Juates how io Ih&r eduEatKTrbased 5kiMs in¢0 the work environment in which could contribute as a member of a team. Shift. conb.nued to eV(e a talenl progam airned at a mwe di¥erse talent. Haviry launchgJ in 2016. It now ru in Lo)don and New YorfE W a year exh oty wilh on average a 70% 01 sts recruits finding erIoni in Ihe cxeative mdustrw. During the year the charty ¢(linued the irmbative lo invthe aThJ erya9e Ihe wblic in the cxeative [(£55 arKI Ihe besl in creative wow The Impact PTqert- this pmject foc4ses cffl creative ideas thal thange the wcffkj for the better. galvanisn9 the cwtsve Crnnty arwKI the 1 is95that affect us dl. Achievements made by Ihe [sn of Ihe benefits.. Development of besi wactice In the ative fidd that wll h8¥e its effect in imtwoved de5yn and markeD"ng in Ihe bugness sectty consequentty irwoved sucr$ ts xwmmerce as a 4thole. Setting ideas and tenchrnarks lo devekp higher edatr.al leaching in ueats.ve hekj thus gtving graduate5 improved skills with to 8llter Ihe workforce. slimulats.on of the ap[lation of excellen of creatiwty in design. advertin9 and coffrnJnKations by way ofdebaie. web access, exhitsbcms and events. Diverty, equity. equality, w5tsinabilty IncKW IhroLwJh D8AD DEI and ESG pc1. The wblic benefit statemenl has prepmred Ki acC(¥dL WTLh the Chaity Commission's gui¢Jelines.
REPORT OF THE TRUSTEES Fdlowing the adverse eeOrn dimate resu"n9 frcm CovY-19. D8AO ¢£nueLl to sycc4ssfulty deliver its educational prOgrdrnff Ihrwgh the use of digilal sernces and applicab"ons. Thts fesulted in in¢ased inlere5t aThJ attendance at al its iniD"ats"ves and ijigiial even The prOgrrneS to be more a¢ce5sible (o larg and broader community globzlty. GIL>al awareness of the drty wa5 increa5eiJ and (Jevebpment of the D&AD archive, Omaital Annua and digrtal contert wlich will be a rna] sourts tl creaii¥e reference, has continued to evolve. Whilst this has been an inwhjvative and succe5slul devekynert, w&ti the 5thequent n3¥al of COV1[19 restrKtions, D&AO F4anniThJ to return lo a event )S.ng the 2023 awrdtds rmrS and festival. The charity's perfonTrance agast its thiecty"¥es over lh2 past year is as fckn4¥S'. Obltcll¥e In 2021.22 To maintain erVeS at knls etemiined ty Ihe reseNes poficy. The grrAJP rernrted reserves of £5.964.37612021.. £4.251.4161 of whith TeStr reserves are £5.873.833 12021.. £3,876.S)41. To Con'nUe to develop a ful integrated trand nMUniCa"OnS and marketing strategy across programmes. In(xeased internaticfflal ¢empt wih the charity esperyally wilh inweased in Ihe awards stheme and glLthly ¢n Ihe kYofesSnaI devdcyrrÉnt F¥o3ramrne. To Conbnue to invesl in the digitsl strategy to delNer an online offer to D&AD's slakeholders. thefeby building D&AD's coMJty. Conbnued investrnent and deh.vw in Ihe charity's ¢Ji9ital activities indudiThJ Ihe of Ihe fredy availaNe DlIa1 Annual in ace of a rknysThl nual. aThJ Ihe digital delivery ol al k¥ogrammes IlUdI EthJcation. Masterdasse5, and Awards CeremLx)y anWIg Olhers. To revie and extend mwkets and audience beyo UK and Eurcye post 81. CMtiwed io athieve media verage to extend beyond Ihe UK and Euro, %wth apronted intemational repSentativeS in IJSA. Japan. Australia. India an¢J 8raJ"l. To conlsnually develop the redefined professional development stralegy. EststAishmenl of a dear (x)herent YO acxoss al coMmunican alIc$ aThY conb'nuing to rdise the cDrnpany F0e. t(Jth UK Internatialty. To contillue 10 build intematiLtsI awareness in key fibes. Senior managem8ni of the chty a5 wll ntinue to Wis approwate hxations and meet wilh key contacis to éevelop Ihis obiectsve. Apwntrnents of intemational rep5 arein 8¢e skeY Iats"¢$ in India. Australk?. 8raJl. US& China & Japan. To luly Ulise D&AD head office in Shoredilch. Events are now happenirg more regularly, bJildirJ rdatK>ns wilh Ihe wder rxeative comrnunty and sawrvJ exiemal costs.
REPORT OF THE TRUSTEES Finandal miew A stsndard program of i(#e generabon resulteij in ino)mirvJ resources being £814,c higher Ihan Ihe previous eernth riJ. whith incorporaied an increase In Professnal Development 01 £188.(K)O 8xduding the income recnI.0n ol Ihe EU Bridging Ihe Gap inits"ative in Ihe prior year. 1Kase$ in PrOfessical Awards of £442,C¢)O. Pather5hips of £15,0. in New Bl(¥>J of £619,CKIO followng a signrficant increase in Ss{W$hip ftwthe New C0 Shrfl pwranwne. Standard forecasl a¢tsvity reSled in c0515 increawo by £208.OLKI against ihe pveviDUS tsvthe rnLth5 to 31st August 2021. Tho effect ol this was a groupn8t lurK15 inllrw of£1.713.rKo12021.. £1,107.0 ovffiowl ILY Ihe hvth8 monl ended 31 August 2022. Prin¢lp¥l fundin9 soiirtts Entry ine for the profession awards stheffe was higher by £442,oc C£Ted to the Fff¢VlJs year. mainly as a reAl of an inueased nurtts of en1 fr(Mn the larger netryks. Funds Gfoup fund5 at 31 Au9usI 2022 amoursted io £5.964,376 12021-. £4.251,4161 of which £nil were restricted 12021.. £135,269). There was a 5urplu5 of unrestricled lund5 of £5.W,376 12021". £4.116.1471. The charity 11 conbnue its programff of cost control and inrnme enhanCernt in wderto itKrease Ihe unrestrided fund balance. 11 L8 anticipated that this pwraffffle WAI delwer ffffjteri wrpluses in future years due to Investment in strearnlined systems and avtOMatM.
tkrJJ&gn EnvcJopB ID.. 5C4Eolw7sBAI REPORT OF THE TRUSTEES Fuiurn F4ans and subs•qu•nt evenls Thts charty's key strategic pc4ioes as ststed in these statements rernain as fdnI for 2021122. In addl11c, the inuease in unrestricted funts to a level both wlS[entlh s reser¥e poly ¢ontirwe as a major objective. D&AD is exploring oppc¥fvnibe5 to transfcrfrn the l)u5iness by using digital tethrK)logies that add value to ils ex15tsng ojst0m base and ueate new m•eis to ex0¢e. A 4-year rKogram of iterative transfoTmatrJn has been agreefl upon lo launth new inrthatKn and Tle $b'rj te(hnc4wy and fun4talty to trdnthxm ihE busnes5 gLNng forwwd. Objectl¥e for 2022ra3 and btyond T¥g8t To maintain reseryes al ¥S delermined by the reserves polw. C()tinUar of the financAal reknew and idents"ficaticffi of costs S8ngS and new inc(Mne strearns enhanced by more effectwe management of exisbng programmes. To conts.nue to deveknp a fulty integraied brand wrnmunulions an¢ marketing strategy acrns5 programmes. l)evekpment of a dear ané ctherent vThce across all communication atIcM5 arKI continuing to raise the company Fffofile. both UK internablty. To continve to invest in the dwital strate9y to deliver an online offer to D8AD 5tskehdders, thereby building D&AD's community. To undertake a signifitanl revw and redeswjn ol D&AO'$ (ligital hIlectu a(xoss all tAalfcrn5. To rewew and extend mark¢ts and UdIen beyond UK and Europe post 8xIt. To tinue to reach di¥er5e audiences rewesent the breadth of commwual crealwe comrrrfjnity. Focu5 on segrnents which we can rrEtrate effectNdy," likdy to be design & prOductic agerties, iTrh¢xJ5e creative & desvJn teams and ¢(Su1tan¢le$. To continue to reach larger aUdiere5 outside London and the UK. FrKus grlAh cibes which we &8n penetrale most effectively. Poientiaty fwjssing on the USA. Crdering the leabilty of establthiThJ a tthy5ica F$01 presence and resour Ihe ground. To ¢tIrRIty devekp the redefined prole5s1al development slralegy. To continvally revivw Strategy to ensiwe rt is rdwdnt to the need5 ol the present and future by devdopirYJ Ihe model into nwehen5ive, lechnicalty flavoured senes of trainirvj (ule5 tsrgets'ng both the ue3ti¥e and dient ccmnn1tieS wlh the ultimate ot¥ective d the crealion of an E-Learning series to scale the entelse and enhance the devdopment of careers in Crea.¥8 fidds thrrwh Cn5 Profeson* Oevekjpmenl {CPOI stheme. Fo¢usgn9 C lar9er corp¢xabs and £Ir wilh rnore global Ch to achieve a galeroUtrea¢h. To contiwe to 11 intwnat#?nal awareness in key cities. sen mana9ement of the charity h85 and will continue lo visil apprcwate kKabons and meet with key crmtacts trj devdop Ihis objecbve. AppnImts of lntemab.onal reps art alaty in place across key ixzlions in Gennany. India. Australia. Brazil. USA. China & Japan.
REPOIIT OF THE TRUSTEES To continue Ihe develty)ment of our diversity. equality, equty and incjusion bolh thin D&AD and Ihin Ihe inL1uslry. comrnLmilS and soryety we are a part of. Tgtsvdopthe D&AD Strategythrjgh wr lhe estatrAished pillars.. Creating a ajliure vknere ever)ne fee15 welojme. bek)ngs and is able lo be theMsee$. Creatsry a more éiverse iThYusty IhrrAJ9h wr programmes & aYom)s Ensuiing [esentab"fffi wAthin D&AO lo eth1he rth diversity ofthe LLd0 5cKiety. induding at 5eniu levds. TD establish appropriale enironmental susIaabljty pC4Y and framewts O&AD has apronted a head ofsustainatlity al0n99de%rk4ng wrth exl¥nal c(bsuttanL8 to develw a $taIna"1fy plan. measure its cartKfi emis9$ and lo publLsh this plan and the a$Sated dats. D&AD 15 rneasunng ts carbon errnssion bolh operationalty and also relab. to it5 external events io redvcing its emisgon artd an arnbrtlL of decartJnising all rts activibes. Ilhin a trarne to be confirned, but looking tOWdrd5 2030 to be a cartrn free organisatic and emF4oyer. Thi5 indudes reducing energy Csution waste. inctrwathng Sustainabty into prurnent practice5 and processes, prior"9 suppliers and service wov•Jers that share O&AD'5 value trward carbon neutralty. To bj11 vb.lise D&AD he1 office Sh(Kedilch. To utilise the Sp to w)hance aThJ build LatIonS vrithin the wider community and swve the ueatsve community. Events now haAin9 n) wularfy sawng eeral COStsth1 and weratiru a small revenue strearn.
O&AO REPORTOF THE TRUSTEES Statement of Trustees. Responsibilities The trusiees (who are the director5 of the charity for Ihe purposes of cornpary lawl. a respcmsible for preparing the Rewrtofthe Trustee5 and theffinancièl statements in aCCL¥darfeilh a1¢able lawand United longdom Accounting Stsndards (United KIthgdL GerallY Accepted Accounthg PracDcl irKludin9 FRS102 "The Finantsal Reporting Slandard appIable in the UK and Republic of Ireland." Company wuires the Iwstees to prepa finan¢4al slaleMts ft)r each financial y¢ar. Urtder COMpY law the trustees must rK>l approve the financkql statements unless they are satisfied that they give a true and lari view 01 the stste of affairs ol the charitable wmpany and the group. and of the incoming fe50urce5 and applicatiorb of resour. including the incc¥ne and exnditure. ol ts dritable group for that period. In weparing those finanoal statements. Ihe trustees a requi to.. Sekct Suitab accounting kxJIici8s and thon apply them cowstoniiy." Slate bvhelherapplicable 3cctyJntJng stsndar(ts. InL1n9 FRS 102. havtr been sutiect to any material d¢Partu ¢sdosed and explained in the financ4al staiements." Observe the methods and pnmples In Slatement ol Recommended Practice Charities ISORPI. MakejudgnIS and estimale5 Ihal are reasonabk and [OIenL Prepa the financial statements on a wing COnM basis unless rt i8 inapprwate presuffe that the chbritae company will continL in tsiness. The tru5tee5 are SponSible fv keeping proper accoWts"j reCrS ¢hat4Yisctose aSOnab Wr8¢Y at any tim8 the financial po51tic ol Ihe chaThiab ¢(panY and to erta Ihwn lo wsure Ihal the financial staternenls comp4y wth the cpanIeS Act 2)6. They we also spOnb lor safeguardbrrfJ the assets of the charitatle company aThY hence lor tokn.ng reasonatAe steps for the prevention and dereclJn ol traud and other ryalle$. In 50 far as the Irustees are awa". There is rKt relevanl audit infmt•)n ofwPwch chaiilabk cornpan$ aujitor 15 unaw¥e". The trusiee5 have taken al the step5 that they (wjght to have tak8n to make them%fves awa of any relevanl aL#Jil bnl(MtW an&to estsblish Ihal Ihe audstw is aware ol that infonnalwjn. Sm411 Companles Exemption This report has ten ppad in accord with Ihe ¥¢oal pro¥is#)ns rdating lo small panIeS wllhin part 15 01 the Companies Ad 2006. The trusiee5 01 ihe Charity appro¥e the Trustees. Annual Repryl. Auditors Moore Kingston Smth LLP has InLIKated their wdh.wess to crntiwe Offi for the ensuing year. 513012023 Signed on behalf of the Tm5tees on ......................... Oyrt J¥* Dara Lyn Secretary
INDEPENDENT AUDITC'S REPORTTO THE MEPABERS ANO TRUSTEES OF D&AD LIMITED Oplnion We have audited the financral statem$0 ID&ADI IIhe'pant (tharrt&Jle c(mpany'l a1 its sub%dk4ries Ithe 'group'l for the year ended 31 August 2022 whith C(M¢Se the Grwp Statemenl of Financial Activib"es. the Group and Parent Charitat48 Company are Shee¢s, Ihe Group Cash Fk)w staMent and notes to the finanoal slater1ts. inthding snIficant actnting Fdicies. The finanoal reng framewtrfk ihal has been applied in their preparab'on appIable law ané Uniled ngdLn Acwjnting stsndards, induding FRS 102 'The Finanoal Reporbng Sndard AF91able in the UK RewtAic ol ITdaTrJ' (United lQngdorn Generaiy Accepted Accounting Practice). ) our opinion tl financaal slatwmts'. give a trL and fair eW of Ihe slate ofthe wp's and the pan¢ tharitable ccxnpanS affairs as at 31 Augusi 2022 and of Ihe grtyJp's Inccthing res(wrces and of reswrces. Including its income av(J eXndIture, f(¥ ihe year then wded". have been prLwety prepared in 3(xordance vilh Unrted Generalty A¢trfJieO Accountin9 Pracbce.. and have been prepared inaC£crfdancev therequirementsofthe Cornpanies Act 2( aThJ Charib•S Act2011. Basis for oplnion We cOU¢ted our audit In aC0)rda th Intemational Standard5 Audng IUKI {ISk IUKII and applicable law. Ow $[m)nsIbIliti.eS uThJer those slandwds a fvrlher described the Audtlors Responsibiiffjes for the audit of the financ4al ststements sedion ol reFYJrt. We are independent of th¢ Charitable company in accordan with the elhi¢al requirements that are relevant to our audit of the financial stslements In the UK. including the FRC'$ Elhical Standard. and we have fulfilled rAJr other ethirAI resFw)n51bilits"es In accordance Wlh these requirem)ts. We bekeve the aLYit eVKJCe we have obtained is 5uffKienl arvj apprwate to proYKle a basis f( opinKffi. Conduslon5 relatong to going ¢on¢em In alItIng the finanaal statements. W have ctXKJJed that ¢he tru%tees' use of Ihe concern ba ol accounting sn ¢he PreparatiL of the finanaal ststements 15 apwopriate. 8aseil on woth we have perforned. we have not identified any maierial uncertainties relating to event5 L cOnditS thaL individualy or cC41eC¥. may (ast 51gntfjcani doubt on ihe group s and parent charitable companls abilityto continue as a gng nCern for a olat leasthvthe months frorn tAthen Ihe fin8nci81 statements are aulhori$ed for issue. Our rEsponsits"lilles and the $pcsirIlll clthe trustees Mlh rested kn 9(j are ¢scribed in the relevant 5ectioF6 of this rewrt. Other inforrnation The Other infrxmalion comrEe5 Ihe 1nlorrnati induded wi Ihg aTral rep. other than Ihe financi slalements and audrtorfs report ther. The trustees are TesFts for the other information contained Ihin Ihe annual rerAYL Our Cyin on the finanaal statements nol rTher the other inforrnation aTrJ, except to the extent othepise exFli¢ity stated in ow repryL we do not ex[$ any frym of assuranc onclu5K)n there. Our responsi1 15 lo read the olher f0Mlation anLI. in dory so, C$Jer +lhBr the other iAh)mi8b"on materially inconstent wilh the financ4al stsrements ¢JJr knOe obiaiNed in the course of the audit or otheise appears to be maleiialty rrisstated. If we hlentify such material InnsiStenE1es or apparent material misstatements, we are reouired to detemine whether Ihere is a malerial rni5Stalement in the financwl slaternents themselves. If. based on Ihe ha¥e perfomied. we condude Ihal there is 3 maleri misststement of this olher inlomiats)n. ate requir&J ¢0 rerut that fa We have nothing to reFrt in ttM5 regard.
INDEPENDENT AUDaR's REPORT TO THE MEMBERS AND TRUSTEES OF D&AD LIMITED Oplnion$ on other mattevs prescribed by the CJmpanies Aet 2006 In our owion. based the th dertaken in the TSe olthe the inlomiaticm given in the Istrategic rewAt and Ihel Iwstees, annual r¢p)rt for the fman¢ial year for whith the finanual Staterrts a prepared is congstent ¥Ath Ihe finar1 str1emt$.. and Ilhe strategitpOrt and Ihel trustees. annual rerxythave been prepared in ac(tsdance with 8pplirable legal requirements. Matters on ¥thi¢h ar• rwuir¢d to rep¢xt by exceptio In the IvJht of Ihe kn(y•Aedge anLJ understandiThJ ol wup and parent charitable (xffipany and tIr environmenl ctjtained in se ofts aud¢ have not identifd rnaiwial misstaiements in Ihe trustees. anrMJal reFXJrt. We have nothing to reF in resped oflhe lo1"rj matterswlwe Ihe Ccxry)arwes Att 2006 and the Chwities Acl 2011 requ us to reFQrt lo you if. in ow Of4nw.' the parent charit2ble company has not kept adequate and suffiuent accounbng records. or tumS adequate fLY our audit have nor been recve(l frn branthes r1 visited by us., or the pat ¢harilat4eccffipany'sfinanoal statements areTrJtin agreernentth the8Un11n9 record5 and retyjms., or certain disck)sures ol trustees. remunwation specjfied by law we made.. or we have not e1Ved am Ihe inforrnab.on and e8¢1$ we require for w audit.. or the twslees were not enb"Iled to txepare fv finanoal statements in accAxdance wlh the small companies regime and take advantage of the small t(ryans exempti in preparij the Trus¢ees' Annual Report and frLN weparin9 a straiegic pCrt. ReSpOnbIlItieS oltruste As eApl8ined more fully in Ihe 1rn5tees' r85kX)ngb"1th5 slat8mgnl Sel L¥Jt page 11, th8 trust (Vtho are also the directors of the charitable comp3ny for the purtKJses ol company are reswjnsible for the pparab0n of the finanual sta¢ements and beiro 5atisfie(1 Ihat they gtve a true an(1 fair view. 8nd such inlemal ¢(1rd as the trustees determine is necessary to enae the preparation of finan¢ial statemenis Ihat a free from rnateri misstatement. knether du¢ to fravd eff. In preparing the financial st3tements. Ihe trustees a ponsie for assessmg tre group and parent charitable COpanY'S ability to continue as a gong Concem. di5dctsiry. as awicable. rvwttets lated lo going rmcem and using the gng C£cern baw5 01 accountirrfJ unles5 Ihe trustees ther inl8nd to h"quale the grcAJP or parent ehitable oynpany or to cease Opera5, have no wlisk altemative bjl to do so. Auditoes Responsibilities for the audit of the finanual ststements We have been apptynted 35 auditty under the Comp8ns 2006 and section 151 of the Charities Acl 2011 and repy)rt In accorda those Our objectives are to otrA3in reasonable assJJran¢e atK)uE whether the finanoal ststements as a whok are free from material rnisslatemenl whether due to fraud or error. and to issue an aUdI'S reput that includes our OniOn. Reasonable assurance ffj a hh levd of assurance. tAJt is a guarantee that an audit conducted In aCCor¢Jan ¥wth ISAS IUKlwll thays delect a maierial SsIale[rnt when rt exists. Misstaternents aris8 from fraud er and are considered rnateril If. Ind5Yidually or In a99regate. Ihey could rea5cffjaY be expected lo irtfluen Ihe econcrfnic detssw)ns of users takert bas6 of these finantsal statements. As part ol an audit in acrx)rdan(t with ISAS IUKI we exerc professmat ju(hJement mintsin professional PcISM throughout Ihe audiL We 50.. Idenb"fyand assessthe risks 0fMat"4 nNsstsmenioftheffin8ncaal stslements.whetherdue to fraud or 8rror. de&gn and perform audii pr(teduS Yes$1¥e those rtsks. an¢J obtsin audil evi¢ence ¢hal Is 5uffiuent and appropnale to wowde a basis fLYour opini. The risk of not iJeiecb"NJ a material nys5tsternent re3u.ng frcn fraud is higher Ihan for one resuhing from etyor, as fraud rnay invofve c¥JUu&on. forgery. irtents.al omissK)ns. mt5re1eft1atyrffjS. w the overr#* of intemal ntr.
INDEPENDENT AUDfTOR'S REPORT TO ThE MEMBERS AND TRUSTEES OF O&AD UMITEO
Obtain an understsrtding of intemal ts)ntrd relevant to audr¢ n order to design audit produreS
that are appropriate In Ihe tsrtum9tsn. twt not for Ihe purposes of exwessing an opinion on the
effeth"ven95s of Ihe wp aThJ partni intemal control.
Evaluate the aprryriatenes5 of actstirJ policies useAI and the rea$(aeneSS of atetyjnting
eslima¢es late£l disdosures made by Ihe trustees.
Condu¢e C Lhe apprwieness of Ihe trustees. use of Ihe gcrMJ Ccern basis of accounlin9 ,
based on the avdit evidence obtwned. whelher a malenal uncertainly exists lated lo events or
conditic$ that may east ggnthcanl doubt on Ihe group and parent (hantsble company's abilrty to
Jntinue as a gryng crmcem. Ifwe cwdude that a rnaterial uncertainty exists. we are required lo draw
attention in Ouf auditor's reFQrt to the lated disdosures in the finanoal 5taternenls LY. rf 5uth
dis¢losure5 are inadequate, to rnojify ¢)pin1. Our d[S10nS 3re based on the audit ewidence
rtitained up to Ihe date of oyr aUdIS reF4Xt H¢Ther. future events conditwjns may cause the
group pwent charitatAe wnpany to cease to ¢tinue 85 8 90ing concem.
Evaluate the overau kYesentsb"on, structure and of the fnancial statennts. indudirg Ihe
¢Ylsck)su. ar ther Ihe finan081 Ststeftts reprewt Ihe uthjertying transathns 8nd events in
a mannw that aehwes fJ"r psents"0n.
Obtain suffiuent arsyopriate audrt eV1Ce regardry tr finanoal inflyma)n of the entrb.es or
business aCD.lIeS within ihe grwp lo exp5 an cyinion Ihe con5didaled financial slaternents.
We are rewn%ble f(x the direction, supery19r * Ferfumance ol the gyoup audit. We remain
sotely resF1e for our audit reF
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OF D&AD LIMITED We inquired of rnanagement and Ihose char9ed vmth g0Veman as to instances of non- CcknkYian N suspecbj norCOr1n wulations. B35e(l thi5 undw5tanding. deggne(J spelific appropriate audit W(tedU to identify instan$ of ncTrCUn18TrCe wilh laws and regti10n5. Tkns included making enquiiies of management and those tharged wth g(prtanCe oiainiThJ addW)¥ corrObkne evi(Jence as rew11. T1 are inherent limitaty.S in the aLxJit prwedures described aLYJve. We are less likely to become aware ol instsnces of non-wmtA1an with law5 and regulats'ons that are not d05dy relaied lo events and tr8n53clion5 reflected In the financial statements. S0. the risk of not detecb'ng a rnateri misstatement due to frèud is higher than the risk of TL detecting results"ThJ frcmn eThor, as tr4ud rnay invc4¥e d¢lib8rate conGeaLmelll by. for eXarnp. fgery w Inlenbonal misreFYesen¢atKms. or through uylusion. Ll¥e of our report This reporl 15 rnade srAety to the tharitsbi8 (¥)ryanys memws. a5 a y. in acwrdanit Chafftr 3 of Part 16 of the Companies Acl 2CIJ6 and. in reSpt ol the Consolated finanoal $talement5, to the ¢harity'$ truslees. as a boty. in accudance th Chapter 3 of Part 8 ofthe charib.es Aci 2011. (ljr avdil wcwk has been unLlertaken so that we might stste to the th81ilable CnpanY s Mnr5 arnl trustees IIKJse matters vh)tth we are required to state lo them In an aLKlitor's reF#Nt and for no other purFose. To Ihe lulksi extent perrnitted by law. we do not accept or assume reS5•Ilty to any party other than the charitaL4e c(Knpany, the thantat4e company's members. as a ttyJdy, and fv charity'5 totstees, a5 a bLwJy. fOrr auLlit wo, for this report, LY for the opinKJn we have fomied. .Tr]tK).rt kfvw51on L Oate.. 30 May 2023 drew Sbckland ISeniN Statutory AkMlitcl for and on behalf of Moore Smilh LLP. StaIrry Au(litt 9 Appjld Street Lcndon EC2A 2AP Moue Kingston Smith LLP is itAe lo aci as alIc( in temts of Secti) 1212 of the Companies Act 2Crf)6.
DPAD CONSOLIDATED5TATÉME14TOF FIMA14CIALAcnvmES Iltt¢orporatir¥ in¢ome aThd txpehdlture ac(wrtl FCMITHE YEAR ENDED JI AVGLIST20?2 T(b Total ¢orne from Grants anddonations Trading incornefrorn subsidiary 175.254 343.563 4.720 440.no Choritobkortl%Yties.' Awards Partnerships Piofessiw4 De¥elcgmeni New glood Totsl tharitsNe KEwities 4.935.555 54.575 386,051 1,311,OZ3 6.687.304 4.935.555 54.675 386.051 1.311.023 6.687.304 4.493.233 40,000 SB6,434 692,131 5,8IL,798 InTrie5trnent InCL¥nE and ifitere5t Other income 305 7.690 6.338,610 21.526 7.IS2.SS8 21.526 7.152558 Expehdltureon Raisin8 fund5 Tradin8 subdiary iosts IA71.767 151.074 2.022.841 1.871,767 151.074 2.022.841 1.417.959 108.399 1.526.358 Choffitobleprti¥its." Awards Partnerships fvofe55ional Development Wew Bhiod Totsl charitae actMiiES 1.8Sg,614 428,139 232.495 761.240 3.281.488 I,B59,614 411,139 367,764 761,240 3.416.757 1,929,747 472.331 566.416 736.671 3.705.165 135.269 135.269 SJ04329 iaS269 5.439.598 5.231523 Ilet knme1 (expendtweI IwJ 1135264 1.?1196Q L107M7 Trsle1 beeen funds 14 Toial fvnds broy8hiforrd 1124 4.116,147 135.269 4,251,416 3.144,329 lot1 fund5urried f4rt¥atd S,964376 5.964.176 151A16 The Charity has no rec<nised t•nS LW lossesfN the year Olherthan asdetsAed a. The movemefits in the Chaiity'sfunds for theveararise thechariws Clinu&¥(ll¥l¢
Dcxuggn En¥ekwID'. n%554¢C4ED4BBgB91lKC751IE1 BAiANCE SHEETS. GROUPAND CHAAITY AT 3IAVGVST 2022 Group 202Z Ch•ry iou Cbar¥ 20ZI 2021 Flx•é assets Intangible a$5ets Tanwble assets Inve5tment5 11.576 77.7 39.191 2(Q,452 12.576 77.%7 39,19l 2th).452 1.000 240.643 19 9).543 239.643 91.543 rpeht assets Debio¢s Cash atbank and in hand zi 735.863 4.733.962 5.469.825 735.863 4.723.838 5.459.701 6.670.454 7.678.255 6.659.693 7,667.494 Current liablltles Creditors falline due within oneyear 11.Wl.4221 11.458.052) 12.1)86.7711 11.686,5561 Nei curreDtassets 5.873.833 4.011.773 5.580.723 3.773,145 Totsl a$tr le55 cwrent Irrt5 S.964.376 4.251.416 5,672,266 4.013,788 Net a55ets 5.964316 4.251.416 5,672.266 4.013,788 A(cumulated lunds Re5tricied funds Llnre5tricted funds Total •c£umuied fvn 23. 24 23,24 135.269 4.JJ6.147 4.15L416 135.269 3.878.519 4,013.788 5.96q.376 %964376 5.672.266 5.67Z,Z66 As permitted bys408 c9mpansA(r It. the compan¥ ha5 noipresenied it50wn statement olfinancial acti¥itie5 ornd reled notes. The charity'5 sv<pIus foi the yearwasEI.658.47812021". E915.936 Surp$) 513012023 The financial staieftntswere approved bythe tntstees on._ . and siined on thEir behalf bv.. OU¢llSed by. F43CE9406I6£... Trustee Compaiyre&isirioA numbei I83234
CONSOIIDATEDSTATEMÉNTOF CASH FII AS AT 31 AUGLIST 1022 2022 2021 Cash Infiow from ¢p¢ratln8 aCli44bQS Net cath Pro¢k by opÈratin8 èCb¥itsQS 1,967.520 L661.693 Cash fvom in¥e5tini lete5 Investment irt¢ome and Intetesi reteived PoyMEntsto atqulretsngl¢ and Intanrt4efixed assets 305 134.0351 131.0271 305 Net In(re1 in andush Equ6¥4lerts 36M9J L661.998 Cash and cash equivalentsai bnn¥0vear C•sh •Md£ash equiv•nis aldvse 4.733.962 6,67U.455 3,071.964 4,733.962 Recondllatlun of net I lexpEndtsrnltg (a5hllryfrvm opewattr¥a¢ii¥fti 2022 Nei Incomel Idefidtllorthe reppellad 1.711.960 1.107.087 Adlustmethts for: Depreciation char¢es Investmeht incorne IlrKre•sel Idecrease in debt4Y5 Increase in credittys cath pro¥idRd by Opewatryacihl IB3.135 13.LX)81 1271.9381 Y6.371 1.967.510 182.361 13051 1270.1391 442,689 1.661.693 Anal¥sisoI Lash andtash ewl¥*rts Cash at bank and ih hand 6.670,454 4.733.962
NOTES TOTHE FINANcL 5fATE¥fpirs ASAT 31 AVGUST 1021 I. ACCWNnNG PQWES •1 Basis al preparat The financial statements comprtse ihe Chanty and its¥thdty-owned subydiary O&AQTradmE tsmited on a lintrby-line ba5. Transactions and balances between the charitsblEcornpanyand rts sub5wJiary havE been diminated t the Consolidated finarlal ststefflents Balances between the fAxl companies aredisdosed in the notes of the charitab company'5 balance shed. A Separate st•iement of art001 artNrfts. or irtcome and Èxpenditute actDuni lor the £hariiable cofflpany Itsdf is noi weseDted beuusethe tharita¥ecrynpJny ho5 tsken atfvantJ¥eolthe exefflpri(m5 afforded bySÈÈtth 408 of the C4impaniesAct 2006. Thesefinancial statements are prepared vnder thehistorical costcanventity). The finan<ial staiemenrsare ptepared in Sterlin8 the1unctionaI of the tharitawegrou The finanoal Statements have been prepared in attordance wilh the Financial ftepuning Standard aFplb¢able in the UK Ind Republic of Ireland IfA5 1021. Thecharirawe C¢waftyaRd It5 subsidiaries area public benefitgroup lor ihe purpose5 01 FFi$ 102 and theveforethe Chafitya150 prere its financial ststemEnts In accordarKE th the StatemÈnt ol Recommended P¥actKe apiCaet0 charfjliES preparing their •[iowts in accordaftiE htheFinwcial Repurti Standard applicab In the UK and w¢epublic of Ireland (the FR5 102 CharItS SORPI. rhe Compan5 Act 2W6 and the Ch•rrf(ie5Act 2011_ bl Goint ¢•n¢•rn The iru5teÈs have asseyed the yse of the gfn8¢oncern basisisapwowate and havefonsidered pJ551ble evertts or condi¢ionstha¢ misht cast svdnifvntdoubtofft the abilityof the charrtable 8roup to cr)tyrsue as a goin8 concern. Theirustee5 have considered foretastsfor a pwod of at least oneyear from thÈ daieof apwoval of the rinantial statemnts t3kin8these steps ID to account On the bogs olihese projecEion5 and the reserves aYJiloble to the charity. thetrUstee5h3 toncluded that there is a reaso1bIeÈxpe(fallOn that Ihe charitasroup has adequate re50Uf£eS to contynue in operatnal Exisrence for the f{eeat4 fvtu¥e. The chtable grL¥JPthereloretohtinue5to adopt the g(xn8 Concern basis In pieparin8 its finantsal statements. The K¥incip•laetOUtt¢ing prlioes a¢Jopted in theoreparatiw olthe fiTrawial ststementsareset cl InctNnittg resour(es All Income is rttogntsed in the ststement of finantial acrmties wthenthere eDtitlementtO the furlds. the receipt is probable and thE èrnount COD be measvred leliabty. Where 4 daim 14wrepawwt of kicowe has tywill be made. such Incorne 15 ¢ros5ed up fcrthe t•x rewrIble. dl AlhxJtion of ¢osts The thariW5 operine costs stsff cost¥ tent and other related Cosrs. Suth costs are allated beLweÈn the charivs educaiional programes. a¢trye$l(raInB fvnds. and mana¢erntritahé admin$tratlOD. costs are alkicated a¢¢ordin8 tothe costs ol stall workiDK directy in ihe¥elevant team50ron the appropriate projects. Where tosts are rt direttty attribLrtable tTrany Pfcieo Lwteam. thave1)eth applA)ned accordi10 ¢heioralofall other Costs relatin8 to each tearn or PTojeci. el Cosis ol rainE luTrwJs The 51$ of raiynefur¥ds opre5Ent tAKndituIn telatK)rt mernbErsand tffix4tants4are dwectty enKaiEd in fundra15ingand pu1($ty. and ihe rdated costs ofthefvndr•5iniaod pubhuty departmenL
KJ.. 7996s54ED4Bglw75IAEBAI O&AO NOTESTO THE FINANCLAI STATEMEPIts AS AT 31 AUGUST Z022 f) CharitaNeexpenditvre charitab expenditure in¢hJde5al expEn¢Jituie dirttvy rdèted rothe cFcisof rhe rharty an41 ¢gmprise5". Costsola(b¥iths fvrth•iaMeo1i thxity'sobp(E5-cofflpwisw¥the costsofthe educational and profe55ioty¥I awards plraMme$ undertèkÈn by thetharityand is ror payab. Suppvrt¢o#s. iepresenting Ihe staffin8aDd associated costsol 5Upp¢vti mentorin8 and e¥ahJation ihe Operatnal progtarnrnes forthi¢h ihe Charity lespOnsitIe. Gty•than¢¢o#s-thith are part ofswport¢osts revesenrin8 expeftditu cffi8tyffnance1nfrarUQ¥re that albws the ¢haiity io operare and to 8eneraieihe inforMatn requirEd fo wblic accLwntablity. They indude the wategic planning p¥ocesses that contribute to future deyelowient olthe tharity. Fund arcouTrtl The chafrty rnainiainsvèriLWS tyPEsof fvrnls as lollows- Resirfrt¢¢ funds- represknn8 8rants. dratn5 and swnsorship retyved whichare 5tspulated to be applied for speufic prr4Ert5 by titherthe nature Dlthe fuDdrJisihgawbe¥ or theyVsponsorship a8reemenL Urtrostrirted lunds- rewÈsehtin8 lunds that are exPendae aithe diKretion of the irusree5 in the lurtherance of the object5 Df the tharity. &xh funds May be inorder to fan¢t both ¢•pital aThd capital Thestment. hl Poftslon costs The tharity operare5a defined contritIon sthemeihai is opentoall ern0vee5. The thar15 ctrIbutIOnS 10 the stherne ate charged to thesi•teTrent oflinanci•l ac¥¥tsin the ort0 knich thry reLe. il IhtsnÉiblÈ fixed assets IntJnRible fixed assets are st•tÈdat cost less amortisation. Amortr on Intan81b fixed assets is pYoded atrares to wrSte off the c05t orvahJJTron. e5tymrd esIdu4lvaK. r•th A%SEton a straight linetyasi5 LIVEY Its rxpeaed SEfvl life as fcAIow5'. SoltwareaDd website 3 year5Str•ght kne 11 ran8lblÈfixedassets Tangl fixed assets of a value ol £I.tand o¥Er are ¢apitaltsed. and arestsied at¢ostless accwated deprocyat)n. OepreciatKffi OD tan8iblefixed a55ets L5 provided at rate5 iowfiEe off the c05torvahJattrJn. less estimated residualvaluE, of each a55et on a stra1 line basis Oyer its expetted usefL4 tsfe as fdlows". Lea5thoW improvements Cornputer Equiw7ent Office e4ui(nent ovet 5 Ye¥$strahI lint ovtr 3 yearsstraight line over 4 Yearsstraightline At the end of each reporting perd. the Teydual value5and useful INes of a55etsafE revEwed and adjutted If netESSary In addttw)n, Il events oi thange cii¢urhSt•rKes Indalethat the¢arrying¥alue may not be recoverat4e then the carryin8 value5 of tan8itrAE and irtsng1weted assets are wewed for Mryairrr*rt. kl FiNn¢ial iA%tywn¢nis l. Ctssh ondc05h equM71eftts Cash and cash equwalentsinclude&ish atbanks In hand and shtrt termdep05itswith a rnJtuiityd8ts ofthree months or less. 2. FinortooloSStts ondlwjlItre 8asic Finantial Instrumethis. asdefined tsyFR5102. are reccenised iniiiall¥atthLyrtrart5JCticn priceand subseqvent at settlement valup. Financial a55et5 and 1otslstie5that ale tp¢eivabkor payawe in more than one yEar an¢ not subiEa to a market r3Le of Interest are measured at the present ue o11 eKpecLed fuiure ieceipt50r payment diSCOUDied at a marketrate of inte¢e.
NOTESTOTHE FINANCIAL STATEMEiifs
AS AT 31 AUGiIST 2011
11 Leases
Assets obtaiMd under hire purthase contracts orfirtae aseS arecaptslised the bal•¢e sheeL Th05t hd¢J Urer
hire pur<hase
DLruS*n En¥thp10.. 7M5S4SC4E8o91&0ICC754AEpA1 NOTE5TOTHE F114ANCIALSTATEMEIITS AS AT 31 AUGusf 2021 2021 4. GPAP4fsAND DOP4AnOF45 coronavirjoh Retention Schewe Grant 175,254 175.254 S. TftAtMMG SU•YDIARY INCOME Incornegwer4ted in ADTradingitrnited 440.?20 343.563 343.563 6. INCOME FAOM (HWTAOiEACTMTlf5 Total YeJrto 31 2022 Awards Partnerships Prole5$tta1 fIeN1ment New 81ood Total hicomefrom charitaWe artN1t$ 4.93S.555 54.675 386.051 1.311.013 &687 4.935.555 $4.675 386.051 1,311.023 Y•arto 31 Awt1021 Awards Partnerships Professional L)Evelopmeni New Blood Total income ftorntharitable3ctMtses 4.493.233 4,493.233 197.933 692,131 S.423.297 388.501 586.434 692.131 5.811.798 ?. INVESTMENT INCOME. IpnEREsfAND MER W4COME Bank deposit interE5t Rental income from SUbaSed prem Other Incorne 305 7.69) I639 4.687 14.534 7.995 8. COSTOF RAisfiiG FVNOS 2022 2021 1.871.767 1.871.767 1.417.959 1.417.959
IIOTESTO THE FIN*J4aAL STATEMEPlfS AS AT 31 AUr$T 2022 9. TRADWIG 5UP51DIARYC05TS ljhrestrirtod Umestrirteit 2021 C05t5 inrurred by D&AD Trading Umited 151.074 ISI,OY4 108.399 108.399 10. COSTSOFAcn4rynES IPI FUThÉRANtE ThE CIIARfTfs OWECTIVES Total Yt•r 10 31 Awst 2022 Awards Partnerships Profes510nal [e10pment New Blood Total expenditure on thJritableathit 1.859.614 428.139 232.49s 761.240 281.4 J.859.614 428.139 367.764 761.240 3.416,757 135,269 115269 Yearto 31 Autust 21ni Awèrds PartnerSp$ Professional De¥tlopment Ilew 84iod Totsl expendiwre on charitèblE artpAtiES 1.929.747 472,331 313.184 411.6n 3.126.933 1.929.747 472.331 566,416 736,671 3,705.165 253.232 325.(tt) 578.232
D&AD NOTESTOTHE FIIIANCIALsfATEMEpirs ASAT31 AiIGUST2012 11.ANALY51S OFTOTAL RE%XIRCES EXPE14D TWI ¢ts easts Veavts 31 Auwst 20 Costsolattr¥rfé6•5 infherVQ althe chaiity'sabjttti¥S Awards 722.B5t 267.599 126,669 243.811 360.911 561.233 43.994 171.172 354.885 I.1.184 574.530 l16.546 69,923 162,543 913,542 1.859.6L4 41&139 7.764 761,240 1.416.757 Professional Development New Blood Cthev eyppndllur? C05t of raisithg funds Tiadingcosts 687.103 801.7 ISl.074 95> 381.904 1.871.767 151.074 1021¥1 687.IOJ 38iJ04 T•tsi 2M034 1.305.446 5.439. Year w 31 Au8UStIOII Casts of •etv¥rtles ih fvr¢kran¢e olthe th•rfty's objerthrt5 Awards Partnerships Professional Oe¥elopment Flew Wood 743,910 261.689 122.215 321.682 LU9.526 417.726 42.169 355.117 121.ln 936.18S 768.081 168.473 1,929.747 472.331 566.416 736.671 3.705.165 293.816 1.319A54 Othorexpenthtufe Costof raisin8 funds Trading costs 584.943 480.424 al,3) 51823 3S2,592 1,417.959 108.399 1.526,351 352? iOJ4. L52Sml 1,672.046 5.231.523
D&AD NOTESTO THE F114ANCIALSTATEMÉNTS A5 A731 AUGVST2022 12. SVPPORTC05TS Toial Yèxtoji Auiust2022 Support Staff antl idated costs Depreciation r supportcosts Total supportwsts 2C*.IIXI 183,134 591.899 .133 208,10) IB3,134 591,899 983,133 S3rIes and Chairman Auditfees Otherlegal and prokssirrfHI fee5 TVtsIvern1ce(g$ts 234,S76 26,313 61.414 322.ju 234.576 26,313 61,424 a22,JlJ Tatal L305.416 i.$.446 Yelrto 31 1021 Staff and rated tosts OepteciètiDn Other support Cosrs T31 511PPOrtcosts 182.058 361.361 554,431 i.iiwi 182.058 382.361 554.431 LIlBs1 Governance Salar$ and Chairman Audit fee5 Other leKal and profesyonal fees Total io¥ernae£0Sts 31ffj.853 35.830 I.$12 54195 308.853 35.830 208.512 553.195 Tot L67Z.046 L672.016 11. IIET OUTGOING RESOURCES Net outgoin¥ reyoU¥$foftht year are Stated aftercharm. Group Chx (harfty 2011 2021 Auditor5 femvnerat I831 37.806 26,313 35.830 Depreciation l amort15ètion'. Owned assets (tan81e and intswe ReDta15 under operating leases.. land .trrtJildin8s 183.135 221,344 382,361 222.917 183,135 221.344 3B2.361 222.917
140TESTOTHE FINANCIAi STATEMEIITS AS AT 31 AUGUST IWIZ 14. Af4ALYSIS OF STAFF COSTS Stsff ¢Mis ¢vmwst: 2022 iozi WaÉes 5aLiries sal secuthty Costs Pension ccsts Recruitment and training Redundarryand terminaiion payments Total st•ff costs 2.017,IZY 13L.492 19&280 19.637 33.810 2.510,341 1074,661 21?,404 IY7,873 ID.402 4.832 2.505.171 The number afemplryEes whose emolumehts Isa14nand benefits kindl exth pensiws fel wthin the ffjlh) bands wa5.. E60,(kll- £70.(KAI E70.001- E80.rm £80.001- £90.rMIo E90.QOI- ÉIOO,OLX) ELIO.LXJL- £IIO.LKNJ £L40.LKI1- £ISO,LKKI %knere noemployee falls intoa $8tsrybandingabove. this bthnEhas been tIJed. The number of ompkne5earniw mrKethan tfilmlts7Athom pvfiion ¢trIbutirIShabeeTr Paid iNthÈ year is 6 I21. 61. The totsl tontributK>nS pa1 bythe tharitydurine the yeai forempWesearnin8 more thakn £60,(>X) wa5É62.39812021.. £107.6691 IS. STAFF NUMBERS The a¥era8e of employees wKludin8 tempLYaryand 5hort4erm ctr1 Staff atysed by lunction was.. 2022 2021 Charitatrde activ5 IKomegeneration Adminisiraiitsn and support 33 13 16.TRUSTEE5 ANO KEY MANAGEMEIIT PE1150FIMEL riby the year £nil was paK1 to trv51tesin tespertof ex$t$ incurred on behalf of the thar130?1.. £nill The Chaiitypurtha5ed trusteÈ irtdemnrty insuranttcostry £776120ZI." £L6111ts pr4xe¢tthethartyfrom ioss from negleciordefauk of itsifu5tees and employees. Key mana8ernent PErsonnel include IheTrvsteÈs. ChdÉxe(tikn¥e. and Senior stsff repothn8 directlyto the Chief Executi¥e. The total emplDyee beneftts cfthe kevmanagement personndwete £719.026 IZ021." (685.5651
DwJSgn En¥eW1tr. TW5y4e04BBS89DI(c75uBl NOTES TOTHE FINAF4CL4L STATEMEPITS ASAT 31 AUGUST IOIZ 17. TAX4TIOPI The ccmpany is a rrfi5tEfEd thar¢¥and no pr¢J$ is con>dered neccssary for taxatKJn ès the tharity is exemw from tax on its (harltable income and tothe extent that it iSapp1 tothaFitable pvrp05es. IB. INTANGIBLE FIXEDA55EV5.GAtyJPAIIO CIIARtTY Web51te ar As at iSeptember2021 Additions Disposals Asat31 Ai¥115t2011 373.003 3Y3,th)3 AMortili0 As at I septeMr 2011 ChaiRe forthe year Eliminaied on d15posal As at 31 A51 1022 333,812 26.615 360,427 Nei bookvah A5at 31 AuEuSi 2022 As at 31 Au8USt 2021 12.576 39,191 19.TM4fjIBLE FIXEO A55EfS. r0UP AND CHARITY Toial As ai 1 5epternber 2021 Addilh?ns Disp05als A5 at 31 *v8U$12021 1,111.715 488.727 34.035 1,611.442 34.035 1.122.715 511.762 L645.477 Depreclatlon A% at i September 2021 Charge f¢r the year Elirninated OD disposal As•t 31 Au•ust2022 944.945 136.193 466.045 20.327 L410,990 156,530 ImJ.138 486372 LS67SJO Net book ¥aluo As at 31 AuÉvst2022 A5 at 31 Au8USt2021 41,S77. 177.770 36,390 11,682 77,967 200,452
O&AD IIOTES TOTNE FIlIANcsTATEMÉ14TS ASAT 31 AUGVSTZ022 20. INVESTMENTS IN SU85IDIARIES The thafty has an iiwestment in ihefolh7n8 subsidiary undertJkin85". %InshiP D&AD TiaéinÉ Lwtsite D&AD Limitod 64 ChÈshire5tree¢ ithidon E2 GEH 7radin8 Ate 1201. Tower 2. The GatÈw3V, Non-tradin8 2S Canton Road.T5irnshatsLA. K+yloM. Hon¥ KoD8 franklurt Kurnit Kle and Selz. P.C. 488 Avenue. NY ICK)22. USA D&AD Inc. 2022 2021 C05tat rhe be8innln8and end of ihe year AD Umited Won8 Kon8 and OPAAP USAlrt¢ ha¥e beeNex¢Wed fvom consoh"dKM for the feason thev are dorrnant nm- tradiDE organisatiws and have nu mater1 elferton the 5u¢plus or assets ofthe st(. The rtnancial ih the ¢wsolwJèted statemeht indudes D&AO and rts wF¥)l* 0ed trading sUbdiary D&ADTrading Limited. The sub5vJi¥ry donaTrs all of its profits 10t thirrtyundtrGrft A¥J. AsumrThary ofthe tradSn8 results is shown below. 2021 Profft & L055Ac(ount Turnovef Cosi olsales Gross profit Administraiion ewenses Pfofft on ovdlwryacit¥ltl 440.720 1147.9881 292.732 {4.5861 188.146 343.563 106.45BI 237.105 13.4411 233.664 8al4ntE shert Current assets Creditut5.' am(xJnt5fallin8 due thirt Trie Total net assets 295.840 12.7301 293,110 243.298 14.6701 238.628 Called up 5harewiial Retained profit 292.110 293.110 237.618 2a8.628
O&AD PIOTESTOThE F114NJ4CN STATEMENTS ASAT31 AUGUST2022 Gn Grow¥ 20 Chartty 2021 2022 21. DEBTORS Tradp debtQffS OthEr debtors Prepayments and acrrued income 607.756 123.469 27A576 1.O)7.801 262.812 39.670 433.381 735,863 607.756 123.469 176.576 1.007.801 162,812 39,670 433,381 735,863 22. CRECMTOIIS Trade ¢ieditors Othe¥ creditors Taxation and social securitv Accrued ewenses Oeferred intome Owed to sublary undÈrtakin8S 337.ID4 59.452 76.742 391.625 937.499 124.719 $5.840 Sl.638 555.542 670.313 337.llx 59,452 7B.742 388.895 791.069 431.so 2.086.771 124.719 55,840 51.63B 550.872 670.313 133.174 1.686,556 1.804.422 L458.052
D&AD 14OTESTO THE FINAtIClAL 5TATEMf14TS AS AT 31 AUGUST 2022 23. A14ILYSISOF CHARITABLE FUNOS ANIy5is of unrestrictedlund e•l•Ke hKomE Expendittsrt Tvanslwt• BalntE 01-Sep and ie5trirteé 31-A 2011 lunds 2022 General fund 4.116.147 7.152,558 5,304,329) 5,964.376 hK•mt Expendiiure Ttstysltr to lante ths Jnd rethrted 31-AuÉ losses fvnds 2021 oi.sep 2020 General fund 2.819.329 5.950.109 14.653.291 4.116.147 Uwestritted funds Tealised bythesubsidiarycomwy ar#1 inc1ed in the above amounts_" £nil12021". £nil knalysaI rewtrtdfvThd rThMmerrts Inwmt Tnrtsfer Eeheral funds 01-Sep ioii Jl-Aue 2021 EU Brid8in¥ Ihe Creatryity Gap 135.269 135.269 1135.2691 135.269 Palance 01-Sep 20 ExpEndllUff Trner èalan¢e general 31-Au¢ fuThds 2011 New Blood proetamme EU Brklging the C¥eativity Gap 325.1 1325.ry)01 1153.2321 1578.2321 388.501 388.501 135.269 135.269 325.rJJ Incomefor resirittEd fvr¥Jsori8inates frtsn SFO)risorship8rantS Ly don4tK)nstoa partitular project or evert and are expensed as requirtd. with unspefit c3rTd ILWward to be used future expenditure. Restrirted futyds rewe5trt: NewBloodJWOgromme EU bridging the Creotivjty Gup Funds aNocated tothe 5tudertt awirds PTogramffle Fundin8 to add¥e55 the 8ap between the chaTr8in8 need5 of the creatiwe sector a8ain5tthe 3?l1itY ol a hi8hty sIled w(kforce at EU level.
Oxusgn En¥dryelD.. 79965YSC4E(H8898917s¢BAI NOTESTO TTrIE FINAf4ciALSTATEMEIéTS A5 AT 31 AUGUST 201Z 24.ANAL15bS OF GROVPMET A55ETSBETWEfPI FIJI5 T•t•l As at31 Au8ust Z021 Fixed •Mets Intanglt assers Tahgiwe assttsfar use tythe charity Investmentin sk$11ary 12.576 77.%7 12.576 77.967 Debtors Cash 3t bankand in hand Cutstnt li3bilit*S Lotyterm l&bllhies l.¢J)7.801 &6?0.454 Ilml.4221 I,?.801 6,670.454 IL804.4221 5.964,376 5.964,376 A5 •t31 2021 Fil assets Intan8ible asset5 ran8ible as5et5for useb¥the thwity Investrnent in subsidi Current assets Debtors Cash at bank and in h4ffld Current16ab116tles Lon8term Ilthljti?5 39.191 2C().452 39.191 2LX).452 735,863 4.598.693 11.458.OS21 735.863 4,733,962 11,458,05Z 135,269 4.116.147 135.269 4.251.416 15. OPE1TIMfj LEASE COIMIITMEpirs A5at the repingate,the group hadoutst4ndiDecomrnitfflemsforfuture rninifflum lease pawnents under non- cartctllab operatin8 leases, whith lal OL$ as lalhx¥s." harityand Group 22 Char6tyand 6roup 2021 Withln one year BeeeTI1wo and fNe¥ears Withln S+ years IZ5, 1,3?S.Lry) 187,50) I.C6L%NJ 1.250.OC#) 16. PENSIO AIID IThERPW.REThEMEIITeEPIEFif CQMMITPAEIITS The Charitable Group opeiaie5a defined ¢wtrItIon sch1£h i5adm¢nistued ifidependent vf the Grwp. The osttothe Group for thE yta¢was £166.23112021." (279.4491. At the Balantesheet datE. the afftouDt due to the pen%Dn scheme adm¢nisirator5 was £16.03012021.. É55.84DI. The expected 105t to the charity In tht comingyear, rfal staff tske up iheif PEn510n Omion. Isappromat¥ £216.[20?1.. E160.).
D&AD NOTESTO THE FINA14CLALSTATEMEIIIS AS AT31 ALIGUST1022 27. AELATEO PAAfYTi411&4rn(bNS Dur£ theyearihe fdlowin8related party v•nsactionswEfe (rd 0.. Sales 01£3.37012011." £2201 were rthade to Pentayarn Lhmited where Narwh Ilamthandani ¢5 a diretlor. Naresh is •150 a dirECtor of O&AO. Sales of £152.57412021.. £irr4.8991 and purthawaf£440.72012021_ £343.S631 we*t madeto DUD Trading bmitÈd. oll¥ owfied subsidiaryol D&AD. At ihe balance SIetdate therewa5ary arrK)unt owed tolhE sub5idi•ry of £285,079 12021.. £233.1741- Na arnounts aro outstsThdin8 in respectof ihese traThsxtion5and no amounrs hèvebeen tAYillen oll Dr provhled for i rekbon ta ihese balances dulingtheyeir. 28. ULTIIJATE CONTRQLUMG PARTY The charitable company is underthecontrd of its mEmi•s. No onernErnbErhassulficient VOTIDg riÈhts ¢u contrd the chantsble Company.