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2024-03-31-accounts

Registered number: 03167185 Charity number: 1053735

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

EAST LONDON DANCE

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 12
Independent Auditors' Report on the Financial Statements 13 - 16
Statement of Financial Activities 17 - 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 - 49
The following pages do not form part of the statutory financial statements:

(A Company Limited by Guarantee)

EAST LONDON DANCE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees G Ambrose
J Amin
H Hackett (resigned 1 December 2023)
F Hogan
L Jones
M Sinclair (resigned 27 June 2023)
Y Turner-Blake (resigned 23 September 2024)
P Woodmansey (resigned 23 January 2024)
J Rose (appointed 27 June 2023)
T Carter (appointed 23 September 2024)
R Germain (appointed 23 September 2024)
Company registered
number
03167185
Charity registered
number
1053735
Registered office
3 Sugar House Lane
London
England
E15 2QS
Company secretary
C Davies
Chief Executive Officer
A Hassan (Co-Creative Director/CEO)
K Scanlan (Co-Creative Director/CEO)
Independent auditor
Sayer Vincent
Chartered Accountants
Statutory Auditors
108-114 Golden Lane
London
EC1Y 0TL
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 1

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The Trustee Board have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission.

OBJECTIVES AND ACTIVITIES

Objectives and Activities

The objects of the charitable company are to

For the year ending 31 March 2024, we have continued to work towards the realisation of our four key priorities that build on our historical contribution to dance development across east London and our future contributions:

1. The Talent House is a home for young people, artists, producers and local communities The Talent House is a pioneering dance and music hub run by East London Dance and UD Music. For East London Dance it's a home for our artists, producers, young people and elders, united by a passion for movement. It is a community resource, a talent incubator and a safe space for creativity and experimentation. This year we realised our ambition for all aspects of our programme to find a home at the Talent House. Our communities are flourishing, and we are providing enjoyment, increased learning, improved health and wellbeing, and clear pathways into employment and/or training. We went back into communities, working in schools, in public spaces, in community centres and with local businesses, co-designing content with our beneficiaries and always offering an invite to the Talent House; ‘come back to ours’.

2. A sustainable organisation that is good for its people

As an organisation we have a commitment to be good for its people and fit for the future. We have embraced a commitment to creativity and wellbeing, aware of the impact of discrimination and complex intersectionality faced by many of our team, artists and cohorts. We are diversifying our income using the asset of our new building. We continue to support our dance artists and producers to express creativity, gain professional opportunities and inspire positive social change in their communities and develop the aesthetic of East London, creating a diverse talent pipeline. This year our focus on the wellbeing of staff, professional training and our impact on the environment started to take shape. A new approach to organisational training that saw CEOs, core staff, delivery artists and Duty Managers learning and developing alongside each other was refined. Our ‘leave no trace’ policy made an impact on public events. We secured seed funding for our first employee wellness initiative Evolve, that will include training and a staff fund for coaching and/or therapy from 2024/25. Alongside our Board of Trustees, we are continuing to develop our own model of sustainability that reflects our diverse partnerships and our founding mission. We welcomed a new Chair, Jacqueline Rose and promoted a member of staff who joined as an intern 5 years ago to Youth Producer.

Page 2

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3. East London Dance is an activating presence across Newham and East London

For 36 years, East London Dance has been committed to its local communities, and with the advent of our own building this role has become even more important. Through partnership, we are expanding our reach and deepening our connection with communities. Each of our programme strands has the ambition to increase engagement across Newham and east London, and to enable ideas and creativity to stimulate the creation of further opportunities and connections.

We commission, produce and present outstanding dance performances, workshops, talks and training opportunities that enable new and local audiences to see themselves and their perspectives reflected. Am ambition remains to showcase authentic locally grown work.

4. Telling Our Stories - Taking the lead in a national conversation

This goal is about revealing the wealth of our programme, sharing expertise and using our impact to start conversations that share best practice and form new models that directly make a difference to the lives of our beneficiaries. Telling Our Stories is also, most importantly, about providing a platform for our staff, artists and beneficiaries to share their stories in their own words. This year we’ve launched short video series for International Women’s Month and Black History month.

In 2024/25 we will be doing the same for Pride Month. Our Producer’s Building Blocks is an opportunity for us to share our knowledge and practice around enterprise and entrepreneurship in the arts. This free video series breaks down key areas of creative business with applied learning tasks. This is designed to spread access to learning beyond the remit of our professional development programmes.

REVIEW OF ACTIVITIES

Significant Activities

Over 3 decades, we have developed our own unique co-design methodology that we use to recruit, build programme, track success and address systemic inequalities. We launched two new projects that took us back into the community and saw us test and develop this model further. Underpinned by a desire to share leadership and champion underrepresented voices it ensures we build trust, make impact and that the projects meet people where they are and champion their ambitions and dreams. Therefore, the diverse communities of east London remain at the heart of our work and 3349 participants engaged in our programmes improving their mental health, wellbeing and aspiration through dance, with an additional 5196 in person audiences,

2023/24 was a period of development for collaborative working and wellbeing. The Producers now have established a solid peer support system and are collaboratively delivering projects together sharing skills and managing their capacity. They have been testing how to embed wellbeing into the delivery of all our programmes. These wellbeing methodologies and resilience interventions will underpin the creative delivery and will become our way of supporting and developing the next generation of artists and producers.

Under pinning our programme and achievements this year has been a focus on the impact of our work and the development of how we create a framework for evaluating that impact. These core pillars of change will enable us to ensure that our work supports the delivery of our vision and that meets the needs of our community. They are:

Page 3

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Significant highlights in 2023-24 include:

Page 4

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Participation Children & Young People

On The Move – Supported by Prudence Trust , On The Move is a term time programme of weekly classes for 4–19-year-olds. In addition to 110 young people a week engaging, the holidays are an opportunity to extend that reach. We ran two successful summer schools in the building engaging 62 young people. The first for 8–13year-olds in collaboration with GiGi Dance & Martial Arts, and the second for 14–19-year-olds in collaboration with our building partner UD Music. Additional holiday activity in February half term engaged an additional 23 young people, 35% of whom were new to the organisation, 77% identified as from the Global Majority and 43% from families on Universal Credit.

Schools outreach

We have started our schools outreach programme providing in curriculum dance classes during PE lessons for Harris Academy. Classes are led by our youth team an include hip hop and contemporary dance styles. They have committed to working with East London Dance in this way until April 2025 giving us the opportunity to expand our reach and engage with more young people across Newham and east London.

Navigate

Funding from Compass Wellbeing allowed us to pilot a brand-new targeted school mental health intervention that combined movement and dance training delivered by specialist facilitators alongside coaching and 1-2-1 support from a trained Youth Support Worker. Working with 4 Newham schools we directly supporting 107 young people aged 11-16 identified as having social, emotional and mental health difficulties (SEMH), and a further 40 SEMH young people through our preventative dance and mental health programme On The Move (OTM) delivered at out our new building Talent House. 78% of the young people came from Black, Asian, and other ethnically diverse backgrounds and they worked with 12 specialist delivery artists skilled in dance and somatic practice.

“These sessions have supported me to feel more resilient and have made me feel free to express myself” Navigate participant

Community engagement

Funded through City of London Community Infrastructure Levy Neighbourhood Fund

We developed a 12month community programme to promote wellbeing and community engagement through dance. Two outdoor performance and participant events as part of St Bartholomew’s Fair were followed with a legacy programme of dance classes and a further two events in local community centres Golden Lane and Portsoken. These initiatives created opportunities for local workers, visitors, and residents to come together, with the legacy programme operating in community centres.

Adult & Older People

Leap of Faith , our elders dance company, continued to meet weekly during term time at English National Ballet home, the Mulryan Centre of Dance. The company also had classes across the Year at the Talent House. They did two performances this year, both at English National Ballet’s Holloway Production Studio. The first in November was a sharing of work created with New Movement Collective around the themes of marriage and love inspired by Les Noces . The second was a new work choreographed by Gerard Martin and Carolyn Bolten, supported by Leap of Faith choreographer Molly Wright as part of REPLAY in March ‘24. They performed alongside other new work commissioned for ENB Youth Co, ENBEldersCo and the performance group for Dance for Parkinsons. There is a waiting list for Leap of Faith and in 24/25 we will be developing a second class.

Adult Class Programme

Our Adult Class programme went into its second year and has continued to attract a wide range of hobbyists and dancers to the weekly classes. The classes run Monday to Wednesday evenings in term times and they bring the building to life.

Page 5

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

We maintain committed to provide opportunities for training and development, routes into the sector and paid employment opportunities for dancers and creatives. We continue to partner with the University of East London to offering volunteering opportunities on the programme and when needed we also offer opportunities to train as a Duty Manager (paid role) for East London Dance activity in the building out of core office hours.

This financial year we have had 3 terms of evening classes with 1,304 participants, and over 4,814 attendances. Overall, we had a slight reduction in participants in comparison to 2022/23, but an increase in number of attendances, reinforcing that we are developing a loyal community of dancers attending classes.

We tested a Masterclass concept over the summer with artists Home Bros and Chaldon Williams. This required a short burst of marketing activity and sold well. We will continue to develop opportunities to run Masterclasses across the year as they provide access to incredible artists for the dance community and for East London Dance also provide a spike in income generation in the class programme.

Artist and Producer Support

Creative Lab – Now in its sixth year, Creative Lab continues to bridge the fields of dance, fashion, costume design and technology. Together with our partner London College of Fashion, we focused on offering more support and opportunities to alumni from the programme that would increase their connection to the industry and other interdisciplinary artists and organisations. This took the form of two networking events that brought a wide range of partners, alumni, and industry experts to share knowledge and exchange ideas. The Creative Lab Development Funds were awarded to Max Percy and Zjana Muraro, who presented their work at the second Creative Lab Network event. London College of Fashion moved to their new building on east London’s East Bank and their spaces provide access to cutting-edge technology and new spaces within which to develop new work.

OUR HOUSE – With OUR HOUSE, East London Dance hands over curatorial control of the building to a series of commissioned independent artists, producers or collectives. As part of our commitment to support the careers and enterprising opportunities for creative freelancers and ensuring our home is a resource for creative communities, OUR HOUSE is a calendar highlight.

Saskia Horton & Sensoria took over the Talent House in March 2024, with a space to express, educate and exchange through movement and music for the disabled, neurodiverse and chronically ill arts communities. They are building radical accessibility and infrastructures of care into arts spaces, prioritising slowness, sustainability and de-growth in the curation of their events.

Since this, their first event, they have held spaces at Chisenhale, Streatham Project Space, Sadler’s Wells and more.

Creative Collective : The Creative Collective is a paid advisory board of diverse creatives who will work with the core ELD team and Trustees to provide a sector perspective, challenge organisational thinking, influence decision-making and co-design delivery. There were 14 applications for the role of Chair; Nicolette Wilson-Clarke was appointed. 38 people applied to join the Collective – the first cohort of the Collective are Camila Cuadros Cruz, Chevon Edwards, Christopher Tendai, Elettra Giunta, Geethana Shashitharen, Jayda Davis Emmons, Lee Putman, Rene Germain, Vinnay Jobanputra.

Producers House: Funded by the Foundation for Future London’s Westfield East Bank Creative Futures Fund in January 2022, Producer’s House is an 18-month programme designed to support diverse East London based Producers through expert led masterclasses, skill development, wellbeing and coaching, facilitator training, networking and support, and paid placements in local cultural organisations.

Phase 2 saw 6 of the original 17 strong cohort move into paid placements in leading organisations across east London including, Certain Blacks, East London Dance, London College of Fashion, Newham Council, Sadler’s Wells and V&A East.

Producer’s Building Blocks: Building on the success of Producer’s House, The Fi.ELD and We Move artist

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EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

and produce development programmes over the last decade, we launched a new digital project called Producers Building Blocks. This series of films all unpack an area of creative business across 3 tutorials with applied learning tasks and digital resources. We hope that this digital project will continue to support artists and producers annually. The first content in the series launched in November 2023.

Operations

We continue to have operational success at 3 Sugar House Lane. We have developed a successful working relationship between East London Dance, UD Music, landlord Vastint, and our new Management Company, Savills. This has led to smoother communications and a reduction on the snagging list.

We continue to train staff to ensure that our team are fully equipped with the latest skills and processes to ensure safety and wellbeing and that the building works to the best of its ability. This includes First Aid, Fire Marshalling, Health & Safety protocol, Safeguarding and procedure around the opening and closing of the building.

We will be embarking on a Health & Safety audit in early 2024/25 and working with an external consultant to review our policy and procedure in this area.

The Year in Numbers

In 2023-24 we reached:

Talent House Statistics: (April 23 – Mar 24)

FINANCIAL REVIEW

At the end of the 23/24 financial year the accounts show a deficit of £53,739 with reserves carried forward of £2,077,003. The deficit includes depreciation on restricted capital assets of £100,892. Considering revenue funds only, the accounts show a surplus of £47,153 – consisting of a surplus on restricted revenue funds of £68,937 and a deficit on unrestricted revenue funds of £21,784. The surplus on restricted revenue funds arises from project funding being received during 2023/24 for projects that will be concluded in the following financial year.

Page 7

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The following table provides additional information that clarifies the free reserves available to the charity.

£'000
Total funds 2,077
Less: restricted capital funds (1,666)
Less: restricted revenue funds (267)
Less: unrestricted funds tied up in fixed assets (9)
Free reserves 135

Fundraising

In addition to the ACE NPO funding of £245k for 3 years, they have confirmed that all National Portfolio Organisation funding agreements would remain in place for an additional year, taking the current funding term to 31 March 2027. Details on the extension year process will be announced late 2024.

In 2023/24 we were successful in securing a wide range of funding for our charitable work from a variety of sources:

Approach to Fundraising

East London Dance has an ethical approach to its fundraising with all funds raised supporting our charitable objectives enabling us to deliver high quality dance activities and development opportunities to those with least access to the arts.

Fundraising is the responsibility of the joint Creative Directors/CEO’s with additional support from our Fundraising Manager and advice provided by the Board. We have a fundraising pipeline that we use to identify Trusts & Foundations and other funders and match with our programme and charitable mission. This year we had a focus on cultivating new relationships with Trusts and Foundations who had been funders of our capital project, one of these was the Linbury Trust and we are delighted to be in a three-year funding relationship with them for our artist development work.

We have had no complaints about our fundraising activities or practices. We are clear in our communication with funders and where possible provide opportunities for them to see the work in progress and to meet beneficiaries.

Future developments

As we come to the close of 2023/24, we are busy planning our fundraising priorities for the coming year. We will maintain our focus on fundraising to secure the future of our incredible programmes and the impact that they make on the social mobility, mental health & wellbeing, development of talent, education and employment of our creative communities and that we represent the diverse people and artforms of our staff, delivery teams and

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EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

local communities.

Traded Income

Traded income is increasingly important to East London Dance’s business model. We have two beautiful dance studios at the Talent House that are available for hire alongside our programme for artists and our participatory youth and elders' programmes. The commercial studio hire enables us to support artists to develop their creative practice through access to free or low-cost studio space.

Studio hire is available at subsidised or commercial rates. During 2023/24 we had paid hires to the value of £79,834 (2022/23 £48,416) an increase of 65%. This included Far from the Norm, BBC – Eurovision, Josh Wharmby, Hofesh Shechter Company, New Adventures, ZooNation: The Kate Prince Company, Greystone Creative, MOVE IT, Tavaziva Dance, Ballet Black, The Place Theatre, Dancers Career Development, Kloe Dean + FDGD, New Movement Collective, Rinova, Constella Opera Ballet, Chandenie Gobardhan, Alleyne Dance, Opera Holland Park, Studio Wayne McGregor, Hudson Ballet Theatre, Icon Theatre.

Principal Risks and Uncertainties

East London Dance has identified three key risks which are identified below, and our risk register helps us identify and establish control procedures to mitigate those risks. The risk register is reviewed by the finance committee and the board of Trustees at quarterly meetings.

  1. Ongoing funding – As a small arts charity East London Dance has high fundraising targets annually in addition to its confirmed Arts Council England NPO funding. The current arts fundraising landscape is extremely competitive, and funds are oversubscribed. This will require close management to ensure we meet our outcomes.

The Executive team are working closely with the staff team to ensure that we articulately demonstrate the need, quality and impact of our work. Impact events and working with an external evaluator to refine our framework will enable us to demonstrate this further. We have a robust fundraising process with our Fundraising Manager and also work with an Arts Fundraising Consultant for additional support and direction. We are developing a fundraising subcommittee with our Trustees to look at a wide range of funding sources and developing our strategy for the next three years.

  1. Earned income – we need to keep setting and reaching our commercial income targets through venue hire, events and entertainment packages and exploring new ways to increase revenue from a range of different sources.

We have launched an Events and Entertainment brochure with the ambition of increasing the commercial and

Page 9

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

corporate hire revenue. This would enable hires to use less studio time but generate more income, this would also increase the time available to the creative programme.

  1. The full operating costs for the building have increased faster than had been expected. We had hoped that the monetisation of the building would be in line with increasing operational costs, but we haven’t been able to match that at the same pace.

Monthly management accounts and reconciling project budgets monthly will ensure that the organisation can control its finances and manage its cash flow. We are continuing to source the best and local suppliers that meet our environmental targets as well as providing value for money. Working closely with our Landlord and Management Agents to ensure the building and its systems are in the best conditional to maintain operational costs. The impact of all these measures enables us to ensure that we are working within our budgetary constraints and delivering a high-quality experience across our spaces and programme.

Reserves Policy

At the year-end, total reserves were £2,077,003 (2023: £2,130,742). These reserves are further broken down into unrestricted revenue reserves of £143,976, restricted revenue reserves of £267,242 and restricted capital reserves of £1,665,785.

The capital reserves are entirely held in fixed assets as capitalised costs for the new building, the only costs against these reserves are depreciation on assets and do not involve cash.

Reserves Policy Senior management and Trustees review the organisation's financial health regularly; cash flow forecasts for a 12-month period are carried out quarterly; budget reviews are carried out quarterly by senior management; a contingency is in place to cover any unknown

Going Concern

The financial statements have been prepared on a going concern basis after the Trustees had given due consideration to the working capital and cash flow requirements of East London Dance.

Senior management and Trustees review the organisation’s financial health regularly by way of management accounts, budget reviews and cash flow forecasts. A contingency is in place to cover any unknown variances. The organisation’s business model looks to mitigate risks by raising income from a variety of sources: Arts Council England; Other public funders; Private Trusts and Foundations, corporate sector partnerships as well as growing a strong trading activity.

The charity has status as a National Portfolio Organisation by Arts Council England, this guarantees core unrestricted funding until 31 March 2027. The relationships with other key funders and stakeholders are well developed and in 2023/24 we renewed our 2-year funding agreement with Prudence Trust and entered into new multi-year funding agreements with Paul Hamlyn Foundation and the Linbury Trust.

Due to the fundraising successes in 2023/24, the organisation is in a stable position, and we are moving into a new period of cultivating funder relationships. Our fundraising pipeline contains a targeted list of funds that resonate with our programmes, unique organisational strengths and track record. Over the last year, we have refined our monitoring and evaluation processes, enabling us to describe our impact from a qualitative and quantitative perspective and demonstrate long-term impact. Our process is supported by an in-house fundraiser, the Executive Team and Trustees.

In addition, our building, the Talent House affords the charity the opportunity to further exploit the asset for commercial activity.

Having paid regard to these matters and those outlined in the above sections of this report, the Board of Trustees has a reasonable expectation that there are no material uncertainties affecting the charity’s ability to continue as a going concern for a period of at least 12 months from the date of approval of this report and financial statements.

Page 10

EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

East London Dance is a charitable company limited by guarantee, incorporated on 4 March 1996 (amended 13 December 2002) and registered as a charity on 12 March 1996. 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.

Trustees

East London Dance is governed by a Board of Trustees. The Board has overall responsibility for the management of the organisation’s resources and ensuring its financial wellbeing. All major policy decisions are ratified by the Board of Trustees.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts. Board members take an active role in the governance of East London Dance, attending performances, events and activities on a regular basis and an annual away day in addition to quarterly meetings. Board members generously share their skills and expertise with the organisation, and this includes equality and diversity, financial management, fundraising, partnerships and strategic development, communications and personnel.

Recruitment of Trustees, Induction and training

A regular Board skills audit ensures that the recruitment of new Trustees is based on relevant and needed skills and they are appointed by the existing Board members. Moira Sinclair stepped down as Chair in September 2022, after which Trustees Jairaj Amin and Yemisi Turner-Blake were interim Co-Chairs until Jacqueline Rose became Chair in June 2023.

Since her appointment a skills audit was carried out and the Nominations sub-committee has been working to identify new Trustees, our target to increase to 12 by 2026. We have set a target to take on 3 new Trustees in 2024/25 and under Jacqueline's leadership have reinstated the Nominations sub-committee and have carried out a skills audit on the current Board.

In addition, all trustees are provided with a written role specification.

Remuneration Policy for Key Management Personnel

The board of trustees sign off remuneration for all job descriptions, including key management personnel, that are regularly benchmarked with the arts sector, considering level of skill and experience needed, complexity of the role, salary bands, fair and competitive salaries and the sustainability of the charity.

Organisational structure and management

Through 2023/24 there has been little change in the core staff team at East London Dance. The team is comprised of 3 full time staff, and specialist freelancers and sessional staff to deliver the programme, including artists, companies, teachers and trainers, and in Duty Manager roles staffing the building outside of core office hours. In December 2023, co-Creative Director/CEO Kate Scanlan went full time to reflect the need for increased executive presence in the business. (Note that all full-time, part-time and sessional PAYE staff are disclosed together in note 10 to the accounts.) All aspects of our employment and programme delivery are governed by a detailed Equalities Policy that protects our employees and ensures that employees and users (participants/audiences) are closely involved in the processes of planning, delivery and evaluation.

It was a year of building stability of our team in their roles and there were little changes to the core team or

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EAST LONDON DANCE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Trustees this year

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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:

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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

J Rose Trustee

Date: 19 November 2024

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EAST LONDON DANCE

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LONDON DANCE

OPINION

We have audited the financial statements of East London Dance (the 'charity') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 the charitable 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.

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EAST LONDON DANCE

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LONDON DANCE (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

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

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our 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' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

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(A Company Limited by Guarantee)

EAST LONDON DANCE

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LONDON DANCE (CONTINUED)

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, 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.

AUDITORS' 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 Auditors' 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 is detailed below:

Page 15

(A Company Limited by Guarantee)

EAST LONDON DANCE

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EAST LONDON DANCE (CONTINUED)

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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior Statutory Auditor)

for and on behalf of

Sayer Vincent Chartered Accountants Statutory Auditors 108-114 Golden Lane London EC1Y 0TL

Date: 12 December 2024

Page 16

EAST LONDON DANCE

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
revenue
funds		 Unrestricted
revenue
funds		 Restricted
revenue
funds		 Subtotal Restricted
capital
funds		 Total Total
2024 2024 2024 2024 2024 2023
Note
INCOME FROM:		 £ £ £ £ £ £
Donations and
legacies:
3
Donations and
organisational grants		 250,162 218,483 468,645 - 468,645 375,295
Capital projects - 12,559 12,559 - 12,559 159,976
Charitable activities:
4
Artist Development 29,296 - 29,296 - 29,296 94,441
Performances & events 19,487 53,922 73,409 - 73,409 25,421
Children & young
people		 1,560 10,175 11,735 - 11,735 86,332
Adults & older people 4,469 - 4,469 - 4,469 3,748
Other trading activities
5		 79,834 - 79,834 - 79,834 51,486
Investments
6		 25,624 - 25,624 - 25,624 16,812
TOTAL INCOME
EXPENDITURE ON:		 410,432 295,139 705,571 - 705,571 813,511
Raising funds
7		 72,746 - 72,746 - 72,746 71,880
Charitable activities:
7
Artist development 59,812 52,108 111,920 12,107 124,027 233,197
Performances & events 126,554 42,922 169,476 22,196 191,672 233,608
Children & young
people		 120,989 131,172 252,161 56,500 308,661 320,924
Adults and older people 52,115 - 52,115 10,089 62,204 80,475
TOTAL EXPENDITURE 432,216 226,202 658,418 100,892 759,310 940,084
NET MOVEMENT IN
FUNDS
RECONCILIATION OF
FUNDS:		 (21,784) 68,937 47,153 (100,892) (53,739) (126,573)
Total funds brought
forward		 165,760 198,305 364,065 1,766,677 2,130,742 2,257,315
Net movement in funds (21,784) 68,937 47,153 (100,892) (53,739) (126,573)
TOTAL FUNDS
CARRIED FORWARD		 143,976 267,242 411,218 1,665,785 2,077,003 2,130,742

The Statement of Financial Activities includes all gains and losses recognised in the year. The only

Page 17

EAST LONDON DANCE

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

expenditure against the restricted capital funds was depreciation on the tangible fixed assets and the funds carried forward are unavailable to spend. The notes on pages 22 to 49 form part of these financial statements.

Page 18

(A Company Limited by Guarantee)

EAST LONDON DANCE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
revenue
funds		 Unrestricted
revenue
funds		 Restricted
revenue
funds		 Subtotal Restricted
capital
funds		 Total
2023 2023 2023 2023 2023
Note £ £ £ £ £
INCOME FROM:
Donations and legacies:
3
Donations and organisational grants 248,449 126,846 375,295 - 375,295
Capital projects - - - 159,976 159,976
Charitable activities:
4
Artist Development 52,841 41,600 94,441 - 94,441
Performances & events 25,421 - 25,421 - 25,421
Children & young people (162) 86,494 86,332 - 86,332
Adults & older people 3,748 - 3,748 - 3,748
Other trading activities
5		 51,486 - 51,486 - 51,486
Investments
6		 16,812 - 16,812 - 16,812
TOTAL INCOME 398,595 254,940 653,535 159,976 813,511
EXPENDITURE ON:
Raising funds
7		 71,880 - 71,880 - 71,880
Charitable activities:
7
Artist development 103,682 114,954 218,636 14,561 233,197
Performances & events 111,942 100,310 212,252 21,356 233,608
Children & young people 162,885 108,532 271,417 49,507 320,924
Adults and older people 64,319 4,507 68,826 11,649 80,475
TOTAL EXPENDITURE 514,708 328,303 843,011 97,073 940,084
NET (EXPENDITURE)/INCOME
Transfers between funds		 (116,113)
66,574		 (73,363)
(35,000)		 (189,476)
31,574		 62,903
(31,574)		 (126,573)
-
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:		 (49,539) (108,363) (157,902) 31,329 (126,573)
Total funds brought forward 215,299 306,668 521,967 1,735,348 2,257,315
Net movement in funds (49,539) (108,363) (157,902) 31,329 (126,573)
TOTAL FUNDS CARRIED
FORWARD		 165,760 198,305 364,065 1,766,677 2,130,742

Page 19

EAST LONDON DANCE (A Company Limited by Guarantee) REGISTERED NUMBER: 03167185

BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds:
Restricted revenue funds
18
Restricted capital funds
18
Total restricted funds
18
Unrestricted funds
18
TOTAL FUNDS		 59,814
414,639
474,453
(82,534)
267,242
1,665,785		 2024
£
1,685,084
391,919
2,077,003
1,933,027
143,976
2,077,003		 160,239
366,457
526,696
(107,751)
198,305
1,766,677		 2023
£
1,711,797
418,945
2,130,742
1,964,982
165,760
2,130,742

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

J Rose Trustee

Date: 19 November 2024

The notes on pages 22 to 49 form part of these financial statements.

Page 20

EAST LONDON DANCE

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash from/(used in) operating activities
19
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Payments to joint venture in 3 Sugar House Lane Limited
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of borrowing
NET CASH USED IN FINANCING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
20		 2024
£
101,814
25,624
(79,256)
-
(53,632)
-
-
48,182
366,457
414,639		 2023
£
(114,365)
16,812
(9,686)
(24,431)
(17,305)
(250,000)
(250,000)
(381,670)
748,127
366,457

The notes on pages 22 to 49 form part of these financial statements

Page 21

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. GENERAL INFORMATION

East London Dance is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office is 3 Sugar House Lane, London, E15 2QS.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

East London Dance meets the definition of a public benefit entity under FRS 102.

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

As no party has overall control of the joint venture, the results of the joint venture are not consolidated into the Statement of Financial Activities.

Estimates and judgments 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.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. 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.

Page 22

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.2 GOING CONCERN

The financial statements have been prepared on a going concern basis. The Trustees have given due consideration to the working capital and cash flow requirements of East London Dance. The going concern basis used in the preparation of these financial statements is based upon the expectation that East London Dance will continue to receive National Portfolio Funding support from the Arts Council England which, together with the total revenue it raises, will match its expenditure.

Senior Management and Trustees review the organisation’s financial health regularly: cash flow forecasts for a 12-month period are carried out quarterly; budget reviews are carried out quarterly by senior management; a contingency is in place to cover any unknown variations; and forecasts and budgets are reviewed with the Board on a regular basis.

The organisation’s business model looks to mitigate risks by raising income from a variety of sources: Arts Council England; Other public funders; Private Trusts and Foundations, corporate sector partnerships as well as growing a strong trading activity.

Trustees prioritise the delivery of a programme that fulfils expectations for them and for service users. East London Dance relies on funding by grants from Arts Council England for its current and future commitments, and operates on the basis that, taking one year with another, revenue will match expenditure.

The Charity is a National Portfolio Organisation and receives grant funding from Arts Council England. This unrestricted grant covers core costs and runs until March 2027. Relationships with other key funders are strong and well-developed, and there is every expectation that they will be renewed when current funding ends. The funding pipeline is strong with regard to approaches to new funders. Senior management and Trustees feel confident that the funding target will be reached. Senior management will liaise with the Trustees to manage the timing of its activities and will only commit to new programmes when funding is confirmed.

The Talent House affords the Charity the opportunity to exploit the asset for commercial activity and it is assumed that this will continue to grow as East London Dance becomes established in its new building.

Having paid particular regard to these matters and those outlined in the above sections of this report, particularly concerning the management of future fundraising requirements, the Board of Trustees has a reasonable expectation that there are no material uncertainties affecting the Charity’s ability to continue as a going concern for a period of at least 12 months from the date of approval of this report and financial statements.

Page 23

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.3 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 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 fo 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.

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.

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.

2.4 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.

2.5 EXPENDITURE

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:

Costs of raising funds relate to the costs incurred by the Charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose

Expenditure on charitable activities includes the costs of delivering performances, participation programmes, artist mentorship, classes, industry events and other educational activity undertaken to further the purposes of the Charity and their associated support costs

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

Page 24

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.6 ALLOCATION OF SUPPORT AND GOVERNANCE COSTS

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. Where such information about the aims, objectives and projects of the Charity is also provided to potential donors, activity costs are apportioned to cost of generating funds.

Staff costs have been allocated to activities as follows:

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on the above, of the amount of staff time attributable to each activity.

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.

2.7 OPERATING LEASES

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the minimum lease term. The lease term of the leasehold building is 20 years.

2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION

Items of equipment are capitalised where the purchase price exceeds £300. 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.

Page 25

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED)

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.

Depreciation is provided on the following bases:

Short-term leasehold property - Life of lease - Plant and machinery 8 years Furniture - 8 years - Computer equipment 5 years

2.9 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.

2.10 CASH AT BANK AND IN HAND

Cash at bank and 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.

2.11 LIABILITIES 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.

2.12 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.

2.13 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Page 26

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. INCOME FROM DONATIONS AND ORGANISATIONAL GRANTS

Unrestricted
funds
2024
£
Arts Council England NPO Funding
245,833
Arts Council England Culture Recovery Fund
Grant
-
Arts Council England: Our House Artists
Takeovers
-
Esmee Fairbairn Charitable Trust
-
Oak Foundation
-
Donations
4,329
Prudence Trust
-
Paul Hamlyn Foundation
-
Linbury Trust
-
Foundation for Future London
-
Subtotal for general organisational
donations and grants
250,162
Arts Council England
-
London Marathon Charitable Trust
-
Goldman Sachs
-
3 Sugar House Lane
-
Subtotal for capital project donations and
grants
-
Total income from donations and
organisational grants
250,162		 Restricted
funds
2024
£
-
-
-
-
-
-
99,483
74,000
45,000
12,559
231,042
-
-
-
-
-
231,042		 Total
funds
2024
£
245,833
-
-
-
-
4,329
99,483
74,000
45,000
12,559
481,204
-
-
-
-
-
481,204		 Total
funds
2023
£
245,833
22,562
4,284
6,000
19,000
2,616
75,000
-
-
-
375,295
59,402
54,000
21,574
25,000
159,976
535,271

Page 27

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

INCOME FROM DONATIONS AND ORGANISATIONAL GRANTS - PRIOR YEAR

Unrestricted
funds
2023
£
Arts Council England NPO Funding
245,833
Arts Council England Culture Recovery Fund Grant
-
Arts Council England: Our House Artists Takeovers
-
Esmee Fairbairn Charitable Trust
-
Oak Foundation
-
Donations
2,616
Prudence Trust
-
Subtotal for general organisational donations and grants
248,449
Arts Council England
-
London Marathon Charitable Trust
-
Goldman Sachs
-
Foundation for Future London
-
Subtotal for capital project donations and grants
-
Total income from donations and organisational grants
248,449		 Restricted
funds
2023
£
-
22,562
4,284
6,000
19,000
-
75,000
126,846
59,402
54,000
21,574
25,000
159,976
286,822		 Total
funds
2023
£
245,833
22,562
4,284
6,000
19,000
2,616
75,000
375,295
59,402
54,000
21,574
25,000
159,976
535,271

Page 28

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2024
£
Baring Foundation
-
Eventbrite
135
Class and Event Fees
29,161
Foundation for Future London
-
Sale of services and earned income
-
Sadler's Wells
-
University of Arts London
-
Subtotal for Artist Development
29,296
Eventbrite
-
V&A South Kensington
-
City of London Corporation
-
Continental Drifts Ltd
1,000
Goldsmiths, University of London
150
Harris Science Academy East London
10,920
Hive Art Studios
600
London Borough of Newham
2,500
London Youth
1,650
MARK London
1,250
Queen Mary University of London
1,417
Subtotal for Performances and Events
19,487
Belvedere Trust
-
Compass Wellbeing
-
Greater London Authority Young Londoners
Grant
-
Class and Event Fees
1,560
George Green's Schools
-
Sale of Services and earned income
-
Redbridge Culture and Leisure
-
London Borough of Newham
-
Subtotal for Children and Young People
1,560		 Restricted
funds
2024
£
-
-
-
-
-
-
-
-
-
-
53,922
-
-
-
-
-
-
-
-
53,922
-
-
-
-
-
-
-
10,175
10,175		 Total
funds
2024
£
-
135
29,161
-
-
-
-
29,296
-
-
53,922
1,000
150
10,920
600
2,500
1,650
1,250
1,417
73,409
-
-
-
1,560
-
-
-
10,175
11,735		 Total
funds
2023
£
1,600
9,330
-
40,000
9,976
20,000
13,535
94,441
965
24,456
-
-
-
-
-
-
-
-
-
25,421
5,000
49,997
30,000
-
(1,200)
1,038
1,497
-
86,332

Page 29

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Class and Event Fees 4,469 - 4,469 -
Eventbrite - - - 990
Sale of services and earned income - - - 2,758
Subtotal for Adults and Older People 4,469 - 4,469 3,748
Total income from charitable activities 54,812 64,097 118,909 209,942
INCOME FROM CHARITABLE ACTIVITIES - PRIOR YEAR
Unrestricted
funds
2023
£
Baring Foundation
-
Eventbrite
9,330
Foundation for Future London
-
Sale of services and earned income
9,976
Sadler's Wells
20,000
University of Arts London
13,535
Subtotal for Artist Development
52,841
Eventbrite
965
V&A South Kensington
24,456
Subtotal for Performances and Events
25,421
Belvedere Trust
-
Compass Wellbeing
-
Greater London Authority Young Londoners Grant
-
George Green's Schools
(1,200)
Sale of Services and earned income
1,038
Redbridge Culture and Leisure
-
Subtotal for Children and Young People
(162)
Eventbrite
990
Sale of services and earned income
2,758
Subtotal for Adults and Older People
3,748
Total income from charitable activities
81,848		 Restricted
funds
2023
£
1,600
-
40,000
-
-
-
41,600
-
-
-
5,000
49,997
30,000
-
-
1,497
86,494
-
-
-
128,094		 Total
funds
2023
£
1,600
9,330
40,000
9,976
20,000
13,535
94,441
965
24,456
25,421
5,000
49,997
30,000
(1,200)
1,038
1,497
86,332
990
2,758
3,748
209,942

Page 30

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. INCOME FROM OTHER TRADING ACTIVITIES

Income from non charitable trading activities

Unrestricted
funds
2024
£
Studio hire
79,834
Consultancy fees
-
79,834
TOTAL 2023
51,486		 Total
funds
2024
£
79,834
-
79,834
51,486		 Total
funds
2023
£
48,416
3,070
51,486

6. INVESTMENT INCOME

Unrestricted
funds
2024
£
Sub-lease rental income
21,471
Bank interest
4,153
25,624
TOTAL 2023
16,812		 Total
funds
2024
£
21,471
4,153
25,624
16,812		 Total
funds
2023
£
15,980
832
16,812

Sub-lease rental income represents costs recharged to UD Music for their share of service charges and rent that is due on their part of the 3 Sugar House Lane site, but which is billed to East London Dance by the landlord under existing contracts.

Page 31

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. ANALYSIS OF EXPENDITURE - CURRENT YEAR

Charitable activities

Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total		 Cost of
Raising
Funds
Artist
Development
Performances
& Events
Children &
Young
People
Adults &
Older
People
Capital
Project (Not
Capitalised)
Governance
Costs
Support
Costs
2024 Total
2023 Total
£ £ £ £ £ £ £ £ £ £
Core Staff Costs
Total: staff
costs		 70,223
70,223		 25,730
25,730		 92,890
92,890		 64,095
64,095		 17,707
17,707		 -
-		 7,728
7,728		 46,996
46,996		 325,369
325,369		 324,752
324,752
Direct: Personnel
Fees		 - 47,539 18,551 37,421 7,680 - - - 111,191 217,096
Direct: Project
Costs		 - 4,463 - 2,278 5 - - - 6,746 18,994
Direct: Travel - 632 - 41 - - - - 673 -
Direct: Marketing - 1,300 - - - - - - 1,300 597
Support: Direct
Fees and Wages		 - - - - - - - 20,373 20,373 59,272
Support:
Marketing		 - - - - - - - 240 240 1,089
Support: Travel - - - - - - - 100 100 3,445
Support: Training - - - - - - - 3,035 3,035 6,870
Support: Tenancy - - - - - - - 99,398 99,398 82,632
Support:
Overheads		 2,523 - - - - - 12,230 176,115 190,868 225,293
Support: interest - - - - - - - 17 17 44

Page 32

EAST LONDON DANCE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024		 940,084
7.
ANALYSIS		 OF EXPENDITURE - CURRENT YEAR (CONTINUED)
72,746
79,664
111,441
103,835		 25,392 - 19,958 346,274 759,310
72,746 79,664 111,441
Support costs - 41,945 75,859 193,664 34,806 - - (346,274) - -
Governance
costs		 - 2,418 4,372 11,162 2,006 - (19,958) - - -
Total
expenditure
2024		 72,746 124,027 191,672 308,661 62,204 - - - 759,310 940,084
Total expenditure
2023
71,880
233,197
233,608
320,924
80,475
-
-
-
940,084
-

Page 33

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. ANALYSIS OF EXPENDITURE - PRIOR YEAR

Charitable activities

Cost of
Raising
Funds		 Artist
Development		 Charitable
Performances
& Events		 activities
Children &
Young
People		 Adults &
Older
People		 Capital
Project (Not
Capitalised)		 Governance
Costs		 Support
Costs		 2023 Total
£ £ £ £ £ £ £ £ £
Core Staff Costs
Direct: Personnel Fees		 52,737
11,417		 45,556
114,056		 91,872
47,674		 64,244
40,943		 28,367
3,006		 -
-		 6,907
-		 35,069
-		 324,752
217,096
Direct: Project Costs - 10,574 4,955 3,465 - - - - 18,994
Direct: Travel - - - - - - - - -
Direct: Marketing 497 100 - - - - - - 597
Support: Direct Fees and
Wages		 - - - - - - - 59,272 59,272
Support: Marketing - - - - - - - 1,089 1,089
Support: Travel - - 109 2,054 - - - 1,282 3,445
Support: Training - - - - - - - 6,870 6,870
Support: Tenancy - - - - - - - 82,632 82,632
Support: Overheads 7,229 - - - - - 8,465 209,599 225,293
Support: interest - - - - - - - 44 44
Capital Project (Not Capitalised) - - - - - - - - -
71,880 170,286 144,610 110,706 31,373 - 15,372 395,857 940,084
Support costs - 60,559 85,671 202,360 47,267 - - (395,857) -

Page 34

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. ANALYSIS OF EXPENDITURE - PRIOR YEAR (CONTINUED)

Governance costs - 2,352 3,327 7,858 1,835 - (15,372) - -
71,880 233,197 233,608 320,924 80,475 - - - 940,084
Total expenditure 2023

Page 35

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. AUDITORS' REMUNERATION

2024 2023
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts (exclusive of VAT) 10,000 8,050

10. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
299,985
17,596
7,788
325,369		 2023
£
296,506
19,054
9,192
324,752

The average number of persons employed (headcount based on number of staff employed) by the Charity during the year was as follows:

Core staff
Sessional teaching staff		 2024
No.
9
10
19		 2023
No.
11
9
20

No employee received remuneration amounting to more than £60,000 in either year.

The total employee benefits including salaries, national insurance and pension contributions of the key management personnel were £209,742 for 6 people (2023: £153,040 for 5 people).

11. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 36

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. TAXATION

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 37

EAST LONDON DANCE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Short-term
leasehold
property
£
1,776,304
79,256
1,855,560
102,695
96,542
199,237
1,656,323
1,673,609		 Plant and
machinery
£
1,574
-
1,574
160
197
357
1,217
1,414		 Office
equipment
£
17,081
-
17,081
2,833
2,135
4,968
12,113
14,248		 Computer
equipment
£
68,600
-
68,600
46,074
7,095
53,169
15,431
22,526		 Total
£
1,863,559
79,256
1,942,815
151,762
105,969
257,731
1,685,084
1,711,797

Page 38

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. INVESTMENT IN JOINT VENTURE

The Charity entered into a joint venture with UD Music involving the establishment of a new company, 3 Sugar House Lane Ltd, with the sole purpose of managing the construction works in respect of the building at 3 Sugar House Lane. Both East London Dance and Urban Development have a 50% share in the company. On completion of the building and the start of its operational activities this year, the full cost of the works was reclassified as short-term lease hold property with costs being depreciated over the 20 year lease period. The joint venture remains as a legal entity with the sole purpose of holding the warranties attached to the building.

Cost at the start of the year
Additions at cost
Transfer to short-term leasehold property		 2024
£
-
-
-
-		 2023
£
1,237,191
24,431
(1,261,622)
-

15. DEBTORS

DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
18,649
34,641
6,524
59,814		 2023
£
48,983
43,121
68,135
160,239

Page 39

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
18
40,638
6,728
10,570
24,580
82,534
2024
£
3,107
5,445
(3,107)
5,445		 2023
£
-
53,418
6,353
5,853
42,127
107,751
2023
£
775
3,107
(775)
3,107

Deferred income relates to studio hire fees for the 2024/25 financial year.

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CURRENT YEAR)

Unrestricted
revenue
funds		 Unrestricted
revenue
funds		 Restricted
revenue
funds		 Total
revenue
funds		 Restricted
capital
funds		 Total funds Total funds
2024 2024 2024 2024 2024 2023
£ £ £ £ £ £
Tangible fixed assets 8,723 - 8,723 1,676,361 1,685,084 1,711,797
Net current
assets/(liabilities)		 135,253 267,242 402,495 (10,576) 391,919 418,945
TOTAL 2024 143,976 267,242 411,218 1,665,785 2,077,003 2,130,742

Page 40

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

ANALYSIS OF NET ASSETS BETWEEN FUNDS (PRIOR YEAR)

Unrestricted
revenue
funds		 Unrestricted
revenue
funds		 Restricted
revenue
funds		 Total
revenue
funds		 Restricted
capital
funds		 Total funds
2023 2023 2023 2023 2023
£ £ £ £ £
Tangible fixed assets 13,800 - 13,800 1,697,997 1,711,797
Net current assets 151,960 198,305 350,265 68,680 418,945
TOTAL 2023 165,760 198,305 364,065 1,766,677 2,130,742

Page 41

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Organisation Reserves
GENERAL FUNDS
General Funds
TOTAL UNRESTRICTED FUNDS
RESTRICTED REVENUE FUNDS
Esmee Fairbairn Foundation
Arts Council England: Transforming
Leadership for We Move
Arts Council England: Our House Artists
Takeovers
Baring Foundation
Prudence Trust
Foundation for Future London
London Borough of Newham
City of London Corporation
Compass Wellbeing
Paul Hamlyn Foundation
Linbury Trust		 Balance at 1
April 2023
£
72,316
93,444
165,760
10,000
10,000
5,000
22,308
75,000
26,000
-
-
49,997
-
-
198,305		 Income
£
-
410,432
410,432
-
-
-
-
99,483
12,559
10,175
53,922
-
74,000
45,000
295,139		 Expenditure
£
-
(432,216)
(432,216)
(10,000)
(10,000)
(5,000)
(22,308)
(75,000)
(19,800)
(10,175)
(27,922)
(45,997)
-
-
(226,202)		 Balance at
31 March
2024
£
72,316
71,660
143,976
-
-
-
-
99,483
18,759
-
26,000
4,000
74,000
45,000
267,242

Page 42

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS (CONTINUED)

RESTRICTED CAPITAL FUNDS

RESTRICTED CAPITAL FUNDS
Construction of the Talent House at 3 Sugar
House Lane
TOTAL RESTRICTED FUNDS
TOTAL OF FUNDS		 1,766,677
1,964,982
2,130,742		 -
295,139
705,571		 (100,892)
(327,094)
(759,310)		 1,665,785
1,933,027
2,077,003

Page 43

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Organisation Reserves
Programme Development Fund
Organisation Development
Fund
Designated Project Funds for
2021-22
GENERAL FUNDS
General Funds
TOTAL UNRESTRICTED
FUNDS
RESTRICTED REVENUE
FUNDS
Esmee Fairbairn Foundation
Greater London Authority:
Young Londoners for VR
Dance
Arts Council England:
Transforming Leadership for
We Move
Arts Council England: Culture
Recovery Fund
Arts Council England: Our
House Artists Takeovers
Fundraising Reserves (Catalyst
Evolve)
Baring Foundation
Prudence Trust		 Balance at
1 April 2022
£
72,316
3,800
21,395
176,157
273,668
(58,369)
215,299
68,506
48,575
86,320
-
26,759
15,000
20,708
40,800		 Income
£
-
-
-
-
-
398,595
398,595
6,000
-
-
22,562
4,284
-
1,600
75,000		 Expenditure
£
-
-
-
-
-
(514,708)
(514,708)
(64,506)
(48,575)
(76,320)
(22,562)
(26,043)
(15,000)
-
(40,800)		 Transfers
in/out
£
-
(3,800)
(21,395)
(176,157)
(201,352)
267,926
66,574
-
-
-
-
-
-
-
-		 Balance at
31 March
2023
£
72,316
-
-
-
72,316
93,444
165,760
10,000
-
10,000
-
5,000
-
22,308
75,000

Page 44

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR (CONTINUED)

Oak Foundation
Foundation for Future London
City of London Corporation
Compass Wellbeing
Paul Hamlyn Foundation
Linbury Trust
RESTRICTED CAPITAL
FUNDS
Capital Grants for the Talent
House at 3 Sugar House Lane -
capitalised
Arts Council England
Foundation for Future London
Goldman Sachs
London Marathon Trust
Other
Greater London Authority
Construction of the Talent
House at 3 Sugar House Lane
TOTAL RESTRICTED FUNDS
TOTAL OF FUNDS		 Balance at
1 April 2022
£
-
-
-
-
-
-
306,668
1,012,327
434,630
62,500
10,000
45,000
188
170,703
-
1,735,348
2,042,016
2,257,315		 Income
£
19,000
40,000
5,000
49,997
30,000
1,497
254,940
-
59,402
25,000
21,574
54,000
-
-
-
159,976
414,916
813,511		 Expenditure
£
(19,000)
(14,000)
-
-
-
(1,497)
(328,303)
-
-
-
-
-
-
-
(97,073)
(97,073)
(425,376)
(940,084)		 Transfers
in/out
£
-
-
(5,000)
-
(30,000)
-
(35,000)
(1,012,327)
(494,032)
(87,500)
(31,574)
(99,000)
(188)
(170,703)
1,863,750
(31,574)
(66,574)
-		 Balance at
31 March
2023
£
-
26,000
-
49,997
-
-
198,305
-
-
-
-
-
-
-
1,766,677
1,766,677
1,964,982
2,130,742

Page 45

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF FUNDS (CONTINUED)

Esmee Fairbairn Foundation

Funding towards the delivery of a young dance entrepreneurs scheme, The Fi.ELD, in both east London and nationally after successfully delivering the programme locally in 2013-2015. £6,000 funding has also been provided to engage a consultant to re-engineer finance processes, produce more accurate and timely management information and budgeting.

Greater London Authority: Young Londoners for VR dance

Payments four and five of a three-year £150k grant supporting a preventative programme utilising dance and technology to engage young people aged 10-14 in Newham and Redbridge who are on the fringes of education and at risk of criminal exploitation.

Arts Council England: Transforming Leadership for We Move

£260k grant to deliver a leadership development programme to inspire, support and promote change makers from the Hip Hop community, led by a consortium of 9 leading Hip Hop organisations.

Arts Council England: Cultural Recovery Fund

Financial support to help the charity through the pandemic.

Arts Council England: Our House Artists Takeovers

Grant towards the cost of the Our House - Artist Takeovers. Our House is a new dance programme which hands over creative control of our programming to independent artists and collectives for a week at a time.

Fundraising Reserves (Catalyst Evolve)

Match funds from Arts Council England Catalyst Evolve set aside to support future fundraising activity.

Baring Foundation

Grant towards the development of dance artists.

Prudence Trust

£150k grant towards the youth programmes: after school programme, holiday projects, performances and events and youth support worker.

Oak Foundation

Grant towards the 'Just Us Dance' programme.

Foundation for Future London

Grant towards 'The Producers House' – developing the next generation of creative producers from and for the communities of East London.

Belvedere Trust

Grant towards VR dance.

Compass Wellbeing

Funding for a 12 month programme in Newham to deliver targeted mental health interventions in schools, upskill the sector and benefit local residents.

Sadler's Wells

Grant towards community partnerships.

Redbridge Culture & Leisure

Grant for VR Dance, working in mainstream and PRU settings using dance, technology and coaching.

Page 46

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF FUNDS (CONTINUED)

Capital: Arts Council England Small Capital Grant

A £499,999 grant towards capital costs for the Talent House at 3 Sugar House Lane.

Capital: Greater London Authority: Good Growth Fund

A £1m shared grant plus a second £350k shared uplift grant towards capital costs for the Talent House at 3 Sugar House Lane, with UD as lead grant manager.

Capital: Foundation for Future London

A £250k shared grant towards capital costs for the Talent House at 3 Sugar House Lane. ELD and UD jointly manage the grant through the shared joint venture company.

Capital: The Linbury Trust

A £60k grant towards capital costs for the Talent House at 3 Sugar House Lane.

Capital: Foyle Foundation

A £50k grant towards capital costs for the Talent House at 3 Sugar House Lane.

Capital: Cockayne Foundation: Grants for the Arts

A £50k grant towards capital costs for the Talent House at 3 Sugar House Lane.

Goldman Sachs

An initial £10k grant towards capital costs for the Talent House at 3 Sugar House Lane, with additional restricted donations during 2022/23.

London Marathon Trust

£99k grant towards capital costs for the Talent House at 3 Sugar House Lane.

Transfers

Transfers have been made from restricted funds where the conditions attaching to those funds have been met. Designated funds have been transferred to the general fund as these designations are no longer required.

19. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the year (as per Statement of Financial Activities)
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Decrease in creditors
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES		 2024
£
(53,739)
105,969
(25,624)
100,425
(25,217)
101,814		 2023
£
(126,573)
102,054
(16,812)
(3,524)
(69,510)
(114,365)

Page 47

(A Company Limited by Guarantee)

EAST LONDON DANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20. ANALYSIS OF CASH AND CASH EQUIVALENTS

2024 2023
£ £
Cash in hand 414,639 366,457

21. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand
Bank overdrafts repayable on demand		 At 1 April
2023
£
366,457
-
366,457		 Cash flows
£
48,182
(18)
48,164		 At 31 March
2024
£
414,639
(18)
414,621

22. PENSION COMMITMENTS

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions paid by the Charity to the fund and amounted to £7,788 (2023: £9,192). The balance due to the pension scheme at the year-end was £7,610 (2023: £2,673).

Page 48

EAST LONDON DANCE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. OPERATING LEASE COMMITMENTS

At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2024
£
100,565
402,261
1,198,404
1,701,230		 2023
£
84,903
339,611
1,096,662
1,521,176

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

2024 2023
£ £
Operating lease rentals 84,903 85,388

24. RELATED PARTY TRANSACTIONS

The Charity has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024 (2023: no related party balances and transactions).

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