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2023-03-31-accounts

Company number: 2565503 Charity Number: 1014567

Shobana Jeyasingh Dance Company

Report and financial statements For the year ended 31 March 2023

Shobana Jeyasingh Dance Company

Contents

For the year ended 31 March 2023

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 10 Statement of financial activities (incorporating an income and expenditure account) ................... 14 Balance sheet ............................................................................................................................... 15 Statement of cash flows ............................................................................................................... 16 Notes to the financial statements ................................................................................................. 17

Shobana Jeyasingh Dance Company

Reference and administrative information

For the year ended 31 March 2023

Company number 2565503 – incorporated in the United Kingdom 2565503 – incorporated in the United Kingdom
Charity number 1014567 – registered in England and Wales
Registered office Somerset House
and operational New Wing
address The Strand
London
WC2R 1LA
Trustees Trustees, who are also directors under company law, who served
during the year and up to the date of this report were as follows:
Amanda Cupples Chair
Caroline Price Treasurer
Alison Duthie
Farzana Fidai
Orlando Gough
Rachel Harris
Natalie Shipton
Rebecca Simor
Sandi Ulrich
Oliver Vicars-Harris
Key management Beth Cinamon Executive Director (Resigned September 2023)
personnel Shobana Jeyasingh Artistic Director
Bankers Co-operative bank
P.O. Box 250
Delf House
Southway
Skelmersdale
WN8 6WT
Auditor Sayer Vincent LLP
Chartered Accountants and Statutory Auditor
Invicta House
108-114 Golden Lane
LONDON
EC1Y 0TL

1

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

The trustees present their report and the audited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Purposes and aims

The object of the Charity is to advance education for the public benefit through the promotion of the arts with particular, but not exclusive, reference to contemporary dance.

2

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

Review of activities

Shobana Jeyasingh Dance (SJD) is one of the UK’s most innovative and influential contemporary dance companies. The company is led by award-winning and internationally acclaimed choreographer Shobana Jeyasingh CBE who is the Artistic Director. SJD has produced more than 60 acclaimed works over the past three decades; the company’s work is dynamic and provocative, appealing to a wide range of audiences.

We believe SJD plays a vital part in the cultural ecosystem by delivering works of excellence, presenting new concepts, and collaborating with other artists also at the top of their game. We have created many valuable partnerships over the past 30 years, provide new perspectives that challenge contemporary, social, and political issues encouraging discourse, while creating productions that are visceral, dynamic and beautiful.

In May 2022 we submitted an application to Arts Council England (ACE) to remain one of its national portfolio organisation (NPOs) from 2023 - 2026. In November we received notice that our application had been unsuccessful. As a result ACE’s annual core funding of £263,000 to SJD ceased on 31 March 2023. We were, however, successful in being awarded a transition grant of £153,000 the period April – October 2023 during which time we will undertake an organisational review.

SJD benefits from a dedicated group of supporters and friends who believe in the work we do and who are committed and loyal donors. As a company we have an excellent track record in fundraising. We are governed by an active and expert group of Trustees. Therefore we are confident that we will continue to be able to create new work, reach new audiences and interact creatively with young people and communities across the UK.

Our activities during the year have been made possible by the invaluable support we received from our core funders – Arts Council England, Oak Foundation, the Dr Michael and Anna Brynberg Charitable Foundation, Mila Charitable Organisation, and individual donors (Creative Circle and Apsara Circle).

Making and presenting contemporary dance

Until The Lions, Opera National du Rhin

Shobana Jeyasingh was commissioned by Opéra National du Rhin in Strasbourg to choreograph and direct a new opera by Thierry Pécou, entitled ‘Until The Lions’ based on the novel of the same name by Karthika Nair. Shobana was working with the resident Opera Ballet company and the Opera company along with two of our own company dancers, ready to premiere the work in March 2020 when the pandemic struck and the show was postponed for more than two years. Studio auditions were held in London in April and May 2022 in preparation for the re-rehearsals and the premieres in Strasbourg and Mulhouse took place in September and October 2022.

3

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

Clorinda Agonistes – Clorinda the Warrior

Clorinda Agonistes – Clorinda the Warrior is co-produced by Sadler’s Wells London, one of the world’s leading dance organisations. Inspired by Monteverdi’s masterpiece, ‘Il Combattimento’, in this visceral production the fiery Saracen female warrior Clorinda battles the Crusader Tancredi in ancient Jerusalem, ferociously defiant in the face of danger. The second half modernises the timeless story, catapulting Clorinda into the 21[st] century as a woman still determined to tell her own story in her own way.

We were delighted to perform the world premiere of Clorinda Agonistes to a sold-out audience of 824, most of whom were new to the company’s work, at The Grange Festival in Hampshire in July 2022.

The production then toured to other venues on the following dates:

(Don’t) Say My Name

We commenced research on a film project that takes its inspiration from Monteverdi’s ‘Il Combattimento’. We will create a contemporary retelling of the opera in a digital format. This creative output is separate from the stage production and is planned to go into production in early 2024 with the release expected later in the year.

Creative Learning

We worked with 16 organisations and 586 participants. Our work followed our in-depth activity vision for Creative Learning, delivering more residencies and long term projects, while

incorporating the main themes found in Clorinda Agonistes. We created more visible outputs this year, as well as more partnerships and experimental practice.

Schools

We worked with 350 secondary school students. This included workshops in London, Whitstable and Sheffield and two residencies - one at St Marylebone school for a year 12 choreographic project and show later in the summer and another residency at Meadowhead School in Sheffield as part of the Migration Matters Festival.

Training and continuous professional development

We ran our annual training CPD day for the dancers working on our Creative Learning programme in July; our focus was Clorinda.

4

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

We also ran a four day intensive in December, our Wintensive, for 12 early careers dancers. This was particularly well received and almost a year later we are still in touch with some of these dancers. One has led some community work for us while another performed in Counterpoint at Somerset House in August 2023.

Between June and November we also welcomed Alanah, a Northern School of Contemporary Dance apprentice who joined us during the Clorinda rehearsal and tour and worked with creative learning on other key events.

Special projects

We worked with our trusted partners thanks to our work with One Westminster and the borough wide initiatives

Cross arts projects

Prior to performances of Clorinda Agonistes at Oxford Playhouse Shobana and a team of three dancers led a special research event at DANSOX in Oxford held in St Hilda’s College. This was held in front of an audience of 50 people.

Digital

We continued our success with our A Most Contagious Dance platform with new entries being submitted from the US. We estimate around 800 visitors/year engage with the platform.

Resources

We took part in the One Dance UK RIDE (Representation In Dance Education) resource, where Shobana wrote a special introduction. SJD was part of the steering group leading on this resource promoted to schools and dance education specialists.

5

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

Financial Review

The end of year result shows a deficit of £223,013 with reserves carried forward of £416,279. The financial statements split SJD’s charitable activities between the making and presenting of contemporary dance and our Creative Learning programme. 8% of our charitable expenditure during the year was allocated to Creative Learning.

Fundraising

The following major unrestricted grants and donations were received during the 2022/23 financial year:

Income from Making and Presenting Contemporary Dance

We recognised a £30,000 commission fee from Sadlers Wells for the co-production of Clorinda Agonistes which saw its London premier in 2022. The income was received during the 2021/22 financial year and was deferred to 2022/23 in line with the performance diary. In addition we received performance fees for the same work from a number of venues.

Learning and Participation

We invoiced a number of smaller projects in schools alongside fees for running an apprenticeship placement with the Northern School of Contemporary Dance.

Support Costs

The administrative team worked in a fiscally responsible manner to keep support costs to an absolute minimum.

Reserves policy and going concern

Unrestricted general funds are available for the use of the trustees in the furtherance of the general objectives of Shobana Jeyasingh Dance and have not been designated for other purposes. We aim to maintain these funds at a level approximating 6 months of operating costs of the company, estimated to be £145,000.

Unrestricted designated funds are set aside by trustees for developing and touring the following year's productions as this is core to SJD’s objectives. These funds remain part of unrestricted funds as designation has administrative purpose only and doesn’t legally restrict trustees' discretion to apply to other purposes.

6

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

The current level of reserves is £416,279 of which £5,000 are restricted and £200,000 are unrestricted but designated. The balance is unrestricted.

Plans for the future

Plans for 2023 and 2024 include the production, launch and festival screenings of the (Don't) Say My Name film, a revisiting of the stage production of Clorinda Agonsites in partnership with a leading music and dance conservatoire and performances of Material Men Redux in Australia. A major news stage work is in development for 2025 and opportunities are being sought to place the outdoor work Counterpoint in summer festivals in the UK and Europe in 2026 and 2027.

Principal risks and uncertainties

Shobana Jeyasingh Dance will cease to be supported by the Arts Council England as a National Portfolio Organisation from April 2023, and after a period of interim funding until October 2023 will no longer have any guaranteed public subsidy. In parallel, the commissioning and fundraising environment in the dance industry has tightened. Both of these factors increase risks and uncertainties to the Company. The cessation of NPO status and funding has required the

Company to restructure the operating model and resourcing structures of the Company to mitigate and minimise financial risk, reflect the removal of the operational burden associated with NPO status and ensure the Company is well placed to remain a going concern for the current planning period of three years.

Fundraising declaration

Shobana Jeyasingh Dance is a member of The Institute of Fundraising (IoF), which is the professional membership body for UK fundraising. We employ a professional fundraiser who works with a fundraising committee which approves and oversees all fundraising activity. The fundraising committee is chaired by a member of the IoF and ensures we follow best practice. We have had no complaints about our fundraising activities or practice

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 5 December 1990 and registered as a charity on 7 October 1992.

The company was established under a memorandum of association, which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

7

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

Remuneration policy for key management personnel

The remuneration for key management personnel is set by the Trustees with reference to the current market environment. The company aims to adjust remuneration on an annual basis in line with general inflation where it is appropriate to do so.

Appointment of trustees

The Board of Directors appoints new Trustees from time to time, to replace outgoing Trustees, fill a casual vacancy or as an addition to the existing trustees.

In accordance with the company’s Memorandum and Articles of Association, a new trustee can be appointed by nomination from any of the existing trustees. The nomination must take place, and be seconded, at a Board Meeting.

At every Annual General Meeting, the longest-serving third of the Trustees retire from office. Trustees retiring in this manner are eligible for re-election, by nomination and seconding from remaining members.

Trustee induction and training

The induction of new trustees takes place in meetings with the Chair, Artistic Director and Executive Director. During the induction, new trustees are briefed on, and presented with relevant documents concerning their legal obligations under charity and company law, the content of the Memorandum of Articles of Association, the Board of Directors and the decision-making processes, the Business Plan and recent financial performance of the Charity. Individual training needs are discussed with new members shortly following recruitment. Board development and general training needs are considered in board meetings from time to time.

Related parties and relationships with other organisations

Ms Natalie Shipman is a Trustee of Shobana Jeyasingh Dance Company and of the Oak Foundation. The Oak Foundation is a major financial contributor to Shobana Jeyasingh Dance Company. The Oak Foundation did not donate to the charity during 2022/23 (£225,000 in 2021/22).

Statement of responsibilities of the trustees

The trustees (who are also directors of Shobana Jeyasingh Dance Company for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

8

Shobana Jeyasingh Dance Company

Trustees’ annual report

For the year ended 31 March 2023

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Make judgements and estimates that are reasonable and prudent.

State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware. The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

The trustees’ annual report has been approved by the trustees on 29 November 2023 and signed on their behalf by

Amanda Cupples Chair

9

Independent auditor’s report

To the members of

Shobana Jeyasingh Dance Company

Opinion

We have audited the financial statements of Shobana Jeyasingh Dance Company (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended

Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

10

Independent auditor’s report

To the members of

Shobana Jeyasingh Dance Company

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

The trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

The financial statements are not in agreement with the accounting records and returns; or

Certain disclosures of trustees’ remuneration specified by law are not made; or

We have not received all the information and explanations we require for our audit; or The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

11

Independent auditor’s report

To the members of

Shobana Jeyasingh Dance Company

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We inspected the minutes of meetings of those charged with governance.

12

Independent auditor’s report

To the members of

Shobana Jeyasingh Dance Company

We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

We reviewed any reports made to regulators.

We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano (Senior statutory auditor)

Date: 31 January 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

13

Shobana Jeyasingh Dance Company

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

For theyear ended 31 March 2023
Note
Income from:
2
3
3
5
5
5
Reconciliation of funds:
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities
Making and Presenting
Contemporary Dance
Learning and Participation
Raising funds
Total expenditure
Charitable activities
Making and Presenting
Contemporary Dance
Learning and Participation
Total funds brought forward
Net (expenditure) / income for the
year and net movement in funds
Total funds carried forward		 Unrestricted
£
433,079
121,119
4,774
5,500		 Restricted
£
10,000
-
-
-		 2023
Total
£
443,079
121,119
4,774
5,500		 Unrestricted
£
608,366
18,710
625
2,720		 Restricted
£
5,000
-
-
-		 2022
Total
£
613,366
18,710
625
2,720
564,472 10,000 574,472 630,421 5,000 635,421
49,010
678,285
62,690		 -
7,500
-		 49,010
685,785
62,690		 39,366
301,450
69,745		 -
-
5,900		 39,366
301,450
75,645
789,985 7,500 797,485 410,561 5,900 416,461
(225,513) 2,500 (223,013) 219,860 (900) 218,960
636,792 2,500 639,292 416,932 3,400 420,332
411,279 5,000 416,279 636,792 2,500 639,292

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

14

Shobana Jeyasingh Dance Company

Balance sheet

Balance sheet
As at 31 March 2023 Company no. 02565503
Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
14
Net current assets
Total net assets
General funds
General funds
Total unrestricted funds
Total charity funds
Cash at bank and in hand
Tangible assets
Debtors
Restricted funds
Unrestricted funds:
Designated funds
Revaluation reserve
Pension reserve
Fair value reserve
The funds of the charity:
Creditors: amounts falling due within one year		 £
14,312
420,551		 2023
£
2,047		 £
50,883
693,281		 2022
£
1,926
2,047
414,232		 1,926
637,366
434,863
(20,631)		 744,164
(106,798)
200,000
-
-
-
-
211,279		 425,000
-
-
-
-
211,792
416,279 639,292
5,000
411,279		 2,500
636,792
416,279 639,292

Approved by the trustees on 29 November 2023 and signed on their behalf by

Amanda Cupples Chair

15

Shobana Jeyasingh Dance Company

Statement of cash flows

For the year ended 31 March 2023

Reconciliation of net income to net cash flow from operating activities

Note
Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash (used in) / provided by operating activities
Purchase of Fixed Assets
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash flows from operating activities
Net cash provided by investing activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments		 £
£
(277,330)
5,500
(900)
4,600
(272,730)
693,281
420,551
2023		 £
£
(277,330)
5,500
(900)
4,600
(272,730)
693,281
420,551
2023		 2023
£
(223,013)
779
(5,500)
36,571
(86,167)		 2022
£
218,960
445
(2,720)
(23,294)
45,766
(277,330) 239,157
4,600 430
(272,730)
693,281		 239,587
453,694
420,551 693,281

16

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies

a) Statutory information

Shobana Jeyasingh Dance Company is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office address and principal place of business is Somerset House, The Strand, London, WC2R 1LA.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

17

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £750. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rate in use is as follows:

 Computer Equipment 25%

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

The company operates a defined pension contribution scheme. Contributions to the scheme are accounted for as an expense in the accounting period to which they relate.

18

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

For theyear ended 31 March 2023
Notes to the financial statements
2
Grants
Hyde Park Place Estate Charity
Westminster Council
The Leche Trust
Income from donations and legacies
Dr Michael and Anna Brynberg Charitable
Arts Council England
Oak Foundation
Garcia Family Foundation
RPS Drummond Fund
Gifts
The Mila Charitable Organisation
Donated services		 Unrestricted
£
263,493
-
-
20,000
125,000
-
-
-
-
24,586
-		 Restricted
£
-
-
-
-
-
5,000
5,000
-
-
-
-		 2023
Total
£
263,493
-
-
20,000
125,000
5,000
5,000
-
-
24,586
-		 Unrestricted
£
263,493
225,000
25,000
20,000
50,000
-
-
-
-
22,623
2,250		 Restricted
£
-
-
-
-
-
-
-
2,500
2,500
-
-		 2022
Total
£
263,493
225,000
25,000
20,000
50,000
-
-
2,500
2,500
22,623
2,250
433,079 10,000 443,079 608,366 5,000 613,366

3 Income from charitable activities

Income from charitable activities
Production Recharges
Sub-total for Making and Presenting Contemporary Dance
Commission Fees
Performance Fees and Ticket Sales
Workshop Fees
Total income from charitable activities
Sub-total for Learning and Participation
Making and Presenting Contemporary Dance
Learning and Participation		 2023
Total
£
30,000
90,944
175		 2022
Total
£
-
13,396
5,314
121,119
4,774		 18,710
625
4,774 625
125,893 19,335

All income from charitable activities is unrestricted.

19

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

Staff costs (Note 6)
Dancers' Fees
Consultants' Fees
Costumes/Sets
Other Production Costs
Travel/Accomodation
Marketing
Fundraising
Project Research
Learning and Participation Costs
Office Rental and Utilities
Audit and Accountancy
Miscellaneous
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022		 Cost of
raising funds
£
-
-
-
-
-
-
-
49,010
-
-
-
-
-		 Charitable activities Charitable activities
Governance
costs
£
6,922
-
-
-
-
-
-
-
-
-
27
8,000
-
Support costs
£
51,478
-
51,315
-
-
-
-
357
-
-
43,880
-
-		 2023
Total
£
162,088
118,877
175,581
46,119
78,021
59,076
47,025
49,367
4,873
4,551
43,907
8,000
-
2022
Total
£
166,111
44,792
45,042
833
14,900
10,150
40,333
39,407
2,250
1,454
44,264
6,175
750

Making and
Presenting
Contemporary
Dance
£
81,403
99,442
124,266
46,119
78,021
56,264
47,025
-
4,873
-
-
-
-


Learning and
Participation
£
22,285
19,435
-
-
-
2,812
-
-
-
4,551
-
-
-
49,010
-
-		 537,413
134,679
13,693		 49,083
12,351
1,256		 14,949
-
(14,949)		 147,030
(147,030)
-		 797,485
-
-		 416,461
-
-
49,010 685,785 62,690 - - 797,485 416,461
39,366 301,450 75,645 - -

20

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

Cost of
raising funds
£
-
-
-
-
-
-
-
39,366
-
-
-
-
-		 Charitable activities Charitable activities
Governance
costs
£
7,180
-
-
-
-
-
-
-
-
-
238
6,175
-
Support costs
£
35,536
-
15,300
-
-
-
-
41
-
-
44,026
-
750		 2022
Total
£
166,111
44,792
45,042
833
14,900
10,150
40,333
39,407
2,250
1,454
44,264
6,175
750

Making and
Presenting
Contemporary
Dance
£
95,074
21,396
29,742
833
14,900
9,416
40,333
-
2,250
-
-
-
-


Learning and
Participation
£
28,321
23,396
-
-
-
734
-
-
-
1,454
-
-
-
39,366
-
-		 213,944
76,618
10,888		 53,905
19,035
2,705		 13,593
-
(13,593)		 95,653
(95,653)
-		 416,461
-
-

21

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2023 2022
£ £
Depreciation 779 445
Operating lease rentals:
Property 21,190 19,699
Auditor's remuneration (excluding VAT):
Audit 8,000 6,175
Other services - -

Staff costs were as follows:


personnel
Staff costs were as follows:
2023 2022
£ £
Salaries and wages 148,948 152,960
Social security costs 10,752 10,825
Employer’s contribution to defined contribution pension schemes 2,388 2,326
162,088 166,111

No employee earned more than £60,000 during the year (2022: nil).

The total employee benefits (including employer pension contributions and employer national insurance) of the key management personnel were £69,224 (2022: £71,802).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

No charity trustees received payment or reimbursement of travel or subsistence costs (2022: £nil).

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:


as follows:
Performances
Educational Activities
Support
Governance		 2023
No.
1.8
1.0
1.6
0.1		 2022
No.
2.7
1.3
1.0
0.1
4.5 5.1

22

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

8 Related party transactions

The aggregate amount of unrestricted donations received from Trustees during 2022/23 was £7,787 (2021/22: £9,062).

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Claims are made for Theatre tax Relief where possible. Relevant costs for works currently being developed for tour will be included in future claims where it is appropriate to do so.

10 Tangible fixed assets

Tangible fixed assets
Charge for the year
At the start of the year
Net book value
At the end of the year
At the end of the year
At the end of the year
At the start of the year
Additions
Cost or valuation
Depreciation
At the start of the year		 Computer
equipment
£
5,906
900		 Total
£
5,906
-
6,806 6,806
3,980
779		 3,980
779
4,759 4,759
2,047 2,047
1,926 1,926

All of the above assets are used for charitable purposes.

23

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

11 Debtors
2023 2022
£ £
Trade debtors 2,339 1,737
Other debtors 11,036 14,308
Prepayments 937 34,838
14,312 50,883
12 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 5,770 58,298
Taxation and social security 2,936 4,200
Accruals 11,925 10,100
Deferred Income - 34,200
20,631 106,798
13a Analysis of net assets between funds (current year)
General Total
unrestricted Designated Restricted funds
£ £ £ £
Tangible fixed assets 2,047 - - 2,047
Net assets 209,232 200,000 5,000 414,232
Net assets at the end of the year 211,279 200,000 5,000 416,279

24

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

13b Analysis of net assets between funds (prior year)

13b Analysis of net assets between funds ( prior year)
General Total
unrestricted Designated Restricted funds
£ £ £ £
Tangible fixed assets 1,926 - - 1,926
Net assets 209,866 425,000 2,500 637,366
Net assets at the end of the year 211,792 425,000 2,500 639,292
14a Movements in funds (current year)
At 31
At 1 April March
2022 Income Expenditure Transfers 2023
£ £ £ £ £
Restricted funds:
Hyde Park Place Estate Charity - 5,000 - - 5,000
RPS Drummond Fund - 5,000 (5,000) - -
The Leche Trust 2,500 - (2,500) - -
Total restricted funds 2,500 10,000 (7,500) - 5,000
Unrestricted funds:
Designated funds:
Production of filmed performance of
Clorinda, deferred from 2020/21 200,000 - - - 200,000
Live premiere and tour of Clorinda,
Summer 2022. 160,000 - - (160,000) -
Remount and tour of Contagion
deferred from 2020/21 65,000 - - (65,000) -
Total designated funds 425,000 - - (225,000) 200,000
General funds 211,792 564,472 (789,985) 225,000 211,279
Total unrestricted funds 636,792 564,472 (789,985) - 411,279
Total funds 639,292 574,472 (797,485) - 416,279

25

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

14b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds
Total designated funds
General funds
Live premiere and tour of Clorinda
Summer 2022
Total unrestricted funds
Total funds
Restricted funds:
Hyde Park Place Estate Charity
Wesminster Council
The Leche Trust
Unrestricted funds:
Designated funds:
Production of filmed performance of
Clorinda, deferred from 2020/21
Remount and tour of Contagion
deferred from 2020/21
 At 1 April
2021
£
3,400
-
-		 Income &
gains
£
-
2,500
2,500		 Expenditure
& losses
£
(3,400)
(2,500)
-		 Transfers
£
-
-
-		 At 31
March
2022
£
-
-
2,500
3,400 5,000 (5,900) - 2,500
200,000
-
65,000		 -
-
-		 -
-
-		 -
160,000
-		 200,000
160,000
65,000
265,000 - - 160,000 425,000
151,932 630,421 (410,561) (160,000) 211,792
416,932 630,421 (410,561) - 636,792
420,332 635,421 (416,461) - 639,292

26

Shobana Jeyasingh Dance Company

Notes to the financial statements

For the year ended 31 March 2023

15 Purposes of restricted funds Hyde Park Place Estate Charity

A grant of £5,000 was made to produce and deliver a joint visual arts and dance project for students at Westminster City School.

RPS Drummond Fund A grant of £5,000 was made to fund the music comission produced by Kareem Roustom for Shobana Jeyasingh. The Leche Truste A grant of £2,500 was made to support a major new dance " l d " d l f

16 Purposes of designated funds Don't Say My Name / Filmed A fund of £200,000 has been designated for a filmed version of performance of Clorinda the live work Clorinda Agonistes. This fund was established in 2020/21 and remains in place until a production partner can be found.

17 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

27