REGISTERED COMPANY NUMBER: 04177900 (England and Wales) REGISTERED CHARITY NUMBER: 1092334 Report of the Trustees and Flnan¢l•l Ststements for th• Y•ar End•d 31•1 March 2024 lor Danc•fest The Rlchards Sandy Partner8hri Thorneloe House 25 Barboume Road Woreesler Worcestershir WR11RU *ADHVBW9• 1311212024 COMPANIES HOUSE A24
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Dan¢efest Contents of the Financlal Statemènts for Ihe Year Ended 31st March 2024 Pago Reference and Administrnlivo Detslls Dlrn¢lorf• Repprt Report of th• Tn*tses 3 to 6 Indep•ndent Ex4mlnorf• R•port Staternfrnt of Fln•n¢lal A¢tlviti•$ 8•lJnc• Sh••t Note8 to the Flnanclal Statomonts 10 to 18
D•ncef•st Rfrferon and Admlnlstratlve Dotalls for the Y•ar Ended 31st March 2024 TRUSTEES H Annetts (resigned 26.10.23) H Murphy C Slenton (Choir) PA James J C Aulin N Gauld (appoinled 18.4.24) A FOer lappoinied 19.4.24) J Slater (appnted 18.4.24) L Mirkova (appointed 19.4.24) COMPANY SECRETARIES KMMRoss P H Ballamy REGISTERED OFFICE The Angel Contre kngel Place Worcester Worcesler8hir8 WR13QN REGISTERED COMPANY NUMBER 04177900 (ErvJland and Wales) REGISTERED CHARITY NUMBER 1092334 INDEPENDENT EXAMINER The Richards Sandy Partrrnhlp Tknmeloe House 25 Barfooume Road Wor¢esler Worcestershire WR1 1RU DIRECTOR K Ross BANKERS Lloyds Bank pk 4 The CTOSS The Avenue Worcester WR13PY Page 1
D•nc•fest Diro¢torf$ Report lor thg Yr End•d 31st March 2024 A clear highlight this year was the investment that we received from Danc* Hub Birningham. This investment enabled US lo trial establishing a new space for the Dance in Worcestèr, transfonning the Old Fir• Ststion into a popup venue for a range ol cl8ss8s. commission6, events and perfomances. It also prowd•d gearing lo ralse a further £13.500 to commission Southpaw Dance Company to create a new piece of outdoor work with o)mmunSty partidpants, presented at Worr2sterfs Light Night 2024. Whlle our pOpUp and assocaated activities weren't wilhout their challenges the activity ralsed our profile In the city and regionalty, it demonslraled Ihe import8n¢e of space lo brand and the cOnqUent engagement ol a wider range of participanls and audien¢•s. Ttft projocl brought the ern logelher, alloMd us lo bring our refined PTioritles to life and explore new ways of wothing. These refined priorittes (To yth more professional artistslo)mpanies and diversfy aiti$tic voices. To engage more people from areas of multiple deprlvalion, To c¢>de$ign actTrvities wlh our c4Jmmunllle$. To focus on outdoor worf( and the environmenl. To incfoase financial reslllenca and dynamism) re developed through a six-rnonth exploration of Dance(es1's Working model, 0ryan6zalnal strncturo and delivery practice supported by Dance Consultant and Coach. Jane Ralls. This process has enabled the team to move into a new éra, followng our Founding Direclorfs retlrement after 30 years. with confidenc8, energy and a rnnewed viSn for the fvlur•. Kity Ross. Dlre¢tor Page 2
Danuf•8t Roport of tho Tn4$t•OS for th• Year End•d 31st Mar¢h 2024 The trustees who are also directors of the ¢h8rity for the purposes of the Companies Act 2006. psent thelr report wlth the financial Statements of the charity for the year ended 31st March 2024. The tnjslees have adopted Iho provisions of A¢¢ountin9 and Reporting by Charities: Ststemenl of Recommended Praclice applicable to chadtle5 preparing their ac£ounts in accordance with the Financial Reporting Standard appIlble in the UK and Repul1¢ of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES object1$ and alms The objects of the charity shall bp tho promotion and devolopmènl of d8n¢• wilhin the counties ol Herefordshire and Worcestershire. In furtheranc4 01 the objecls th@ organisalion shall plan. organisa. promote. publiciso. raise lunds lor and othamse support a pro9ramme of perfom)ance$. workshops, residences and other dance activities within the Iwo counlles. Vision.. W8 ensur8 Ihat peoplgS INes kn Herofordshlr8 and Worcestefshlre are as cumurally and Inspiratlon81 as in any ofour major eities. Mlssion.. We collal)orate wilh people., In schools. communibes, on Ihe slreats and In rural spaces - rnlslng Ioc81 oJllur•l ambition and transforniing people's lives through the power and joy ol dance. We have four stralegi¢ obJBctives to be d8llv•rod through a wlde-ranglrvJ arllstic programrne and champlonlng development for an improved danco ecology in the reglon: Partlelpallon: Provide opportunlli8s lor evertryjne In Worceslershirn and Herefordshire to take part in dance Artl8tlc Excellen. sUppt 8rtlsUc development and the pursuft af oxcellen(x through culturalty 81gnlficanl Conternporary dance Audl•nc•i •nd Infiu•nu: We Nlll bulld audl•nces. provlde 8•Ctor lèadorshlp and 0dvoCa In partlclpatory dance practice Organl••llonal d•v•lopm•nt and •u•talnablllty: Improve finandol M8ilience, m8xlmlM and m8k• begt u80 of our resources Publlc benofft In shaplng and revlewlng 118 obJectlv•s and plAnnlng its actlvltlo8. the Iru8taoJ have had regard to the Charfty Commlsslon'$ guldance on public benefit, indudlng the guidanc• on publlc bon1 and f•8 ch•Tglng and when oxer¢islng any powers Cf dulios to which the guidance Is relevant. Danc•fesl c4)nllnues io enable a wlde range of dance particlpalion, 108mlng and perfomance activi$ and provldes substantlal outreach activities through dasses and comrnunty engagement. espec481 In ¢ornmunlties wth Ilrnited local a$S lo arts paCIpatiOn. Dan¢efesl's commitment is to continue providing the poople of Wortoslershire and Hgrefordshire with a year round prooromme of dan¢e events ond leaming activities wllh artisti¢ excllence al the heorl. Dancelest places a fim emphasls on equallty ol a¢SS, dlverslty ol prarfice and of audlencesl partlclpants and on ¢ommunty focussod aclivities across the t4yo count1. Dancefo8fs responsiv• webslt• 18 ac(*ssiblè and provides Snfomatlon abcxjt 8taff. our board, our background and purpose as well as up to dale and acrate Infomadon about classes, pgrfornances and opportunities to participate. We also share Infonnation about other arts organisalions woth in the area, promoting the full offer made available to the ¢ommunili6s wo work th by like<nlnded Qfganlsatton$. Pago 3
D¥n¢•f•8t
Report of Ihe Trustees
for tho Year Ended 3151 March 2024
ACHIEVEMENT AND PERFORMANCE
A snapshot of Dane•f•sVs work In the year 2023.2024
Edu¢atlon
Jan•n• Wyatt, Edueallon Managèr and D•llvory L•ad ISchool8
3236 children took part in our Dan¢efe$t in Education &week projects 23134 {330/• increase on the previous
year)
509 Dancelest In Éducollon work8hops look pla in 23124 (S5% Increase on prevlous yaar)
12.147 totsl attèndances in our Dancefest In Eduralion 64veek projects 23124131% Increase an prevlous year)
Dancefesfs work in education indudes both our croalive currfculum Ilnked projects and BOOST our children's {Primary
KS1&2) craalive danc4 proj•ct lo support 9000 mental health. Both aro offor•d lo schools across the academic year and
have seen signlficanl grovth over tho last 12 ffK>nlhs both In numbers of children tskirvJ part and in reach across the 10
districts. 11 Is affirniing to note that despite the increasing pressures on School funding we have seen 8 33% increase in
th15 area of our wort(, provlding ¢reative dancé programmes from early years to KS4. We attribute this, in part, to
sd)ool$ prioritizlng health and well-being and recognizing the impact ¢realivo danrAJ can have on childwn and young
people's menlol health. Thank8 to 8UPPOrt Irom Cllr Lynn Dènham vla her Dlvl8lonal Funds we were abl• to offer
BOOST tralnlng lo our freelanc• Dance Leaders, increasing our capacty to dellver BOOST to more sthools and also
helpSng lo infoTh their prn(ti.
Dancefe81 conllnuos to fac• the challeng• of ongaglng hard&r to reach young people and young peoplg In ie¢ondary
schools. In response we have begun R&D lor BOOST Youlh aprtl Community BOOST. This has Included shadowing
Intemationalty aaiMed Wired Aerial Theatro Company with their 'Me V Me, show which 'see$ perfornwrs animate '
the emotional ranges inherent in the duality of mental heatth, and tske part in thelr wrap around youth wothshops Ilnkod
to the show. BOOST Youth Is based around Mind's '5 steps lo improvlng and malnlalnlng mental wellbelng. and wlll be
fvrther dovoloped and plloled wilh Dance Psychotharaplst Sarah Haddow in lorth
Dancof•st Report of the Trustoes for tho Year Endod 31$t March 2024 Jlgsaw Indusive Dance; we have continued strengthening partnerships supporting our Wonxster group to perfom a$ part ot, Monday Nighl Club's 'Gol Talenl. show at Worcester Swan Theatre and Worcesler Snoezelen's 30 year annNersary showcase performance. With support from the Eveson Foundalion we have Committ resource lo building numbers for our Hereford group wthich fell following the CV19 pandemlc. We have swnl time rebuilding netwoths within Herefordl$hire. talking to partners and delivering Lqster sessions. Moving the sessions to the Courtyard Th8atre has also helped as ft raises aspirntions and the café provides a space to add a soaal element. 50+ Perfomiance Company and Sleedng Group; respondlng lo Interest Irom It ¢omp8ny we have est8bllshed steering group to help shape the ryjmpany's future. A priority for the group was choosing a name that ltrkgy fett better reflected their aspirations; after consultation and 8 vole 'Maknng Waves. has been adopted as the new name. Thls change has fostered a greater sense of ownetshlp. alignment and empowemenl among our p8rticipants who have bpc4)me much morg adive In curnling the programmo of Wrk. tho thomes they explore and whgr• they perforn. We are committed to divernifylng the company's arbslic voice and the <Yeative opportunltieG that we wovide. This ar we c£)mmi$sioned Robbie Graham (Southpaw Dancè Company) to cmate 'Aura' . a 12-minute perfomiance that was presented as part of Worcestef $ Lht Night and comblned dan, pmjection m•pplng, and naffative to 'explore Ihe heart's magnetic field and our unseen cA)nnol0ns'. 20 local communty partlclpants worked with 3 professional dancers ' to cxeate Ihe work for vthith we recelved f8nlasti¢ fèedback from both audlenchs and participants. We plan to build on thls in thg coming years. FINANCIAL REVIEW Flnanclal p055tion Dancfe8t commenced the financial year wlth total fund5 01 £73,571. Of thls, a designated contingoncy resefve of £50,(100 wo6 maintained lo safeguard a9ainst unforeseen losses, onsurln9 thè chaiilrfs financial stabllity. Incofflo Ov•r¥lew The charity exp8rien¢ed o notable in¢rease in granl Income. rising by £53.940. primBrily due to substantial support from Dan Hub Bimlngham CIC. Addillonal gr8nts from The Bransford Trust, Evèson Trust, and other charil8bl• or9•nisatlon5 furthor bolstered our financial po8lllon. Incnme generated from ch8ri1able acliviii8s remalnad nlI1&Al wilh the previous year. demonstrating our sustained engagement wilh our cxmmunity and stakeholder5. Th8 overall result18 a rlse in total 01 £57,714 from £190.63710 £248.351. Exp•ndlturo Analy81s Total axpondilure for th8 year Increased by £45,623 from £211.658 10 £257,281. Key contributors to this rise Included.. Fundralser Fees.. An Increase of £6,660 associated wlth ernOYIng a FurKlraisirKJ wnsullanl. Wages and Dance Artists Costs: A decrease of £3.172. rèflecting the impact of reduced staff numbofs. Prolecl Costs.. An increaso of £37,807, wimarlly due lo expenses incurred lor the Bimingham Danc4 Hub Invèstment Programme, Organisational Restructudng Costs.. Thgs8 Included profosslon81188s 01 £2,700 for addlllonal HR support and £7,600 for consullancy seNlc4s almed al straleglc buslness rèview and emplw? e4nsullations, As a r08uIt, net expendthre for the year was £8,930, a slgnlficant Improvement compared to £21,021 in the prevlous year. It musl also b8 highlighted tr¢ the net exp8nditure was as 8 rosull of pl8nnad spend on staff redundancies, and not a budgetary overspend in the year. Fdlowing Ihe organisational mstructuring. the Board have declded to reduce the designaied ¢ontingency reserve from £50.fKJO to £40.000. allowing for greater flexibility in resource allocation. At the closo of the financlal year, Dancèfast hald total fiJnd8 of £64,841, 4 d•creasa from £73,571 In 2023. Howov•r, tho charity cornfortably relairK8 the denated 1xlIngenry Teserve of £40,000 and has sufficlgnt rem8inirrfJ funds to support on90ing operations. Prlnclpal lundlng 8oiir¢•8 Dan¢efest continued to benefit from Arts Councll England (ACE) fijnding as a Natlonal Portfollo Organisation, vlth funding S8red until 2026 a promised extension to 2027. The support from Worc4s1er Cty Coundl, Wor¢estershire County Coun1 and W08t¢r MuniGipal Charilios r8affiTrd our local impact, Invaluable support for our perfomanLW inatiVeS was provlded by Tho Bransford Trust (£10,000) and The Eveson Trust {£5.000) for the Jtgsaw Connects initiative, alongside a grant of £750 fmm The Cadbury Trust. Our Youth Dévelopment Progrdmme aL80 re¢1Ved backing from Oumbreck Chaiity, Abrfghl Grimley Charity, and Baron Davenporfs Chanty. Addltlonally, Danefest welcomed £963 in individual and corporate don0n$ (up from £253 In 2023). fvrtr enhancing the diversity of our income streams. Pay pollcy for all staff Pay ftx all stsff is Considered annualty by the board and all members of staff are paid al least tho National Living Wage. Page 5
Dan¢efest Roport of the Trustees for the Year Ended 31st March 2024 FINANCIAL REVIEW Reserves and inveglment policy The charity's reserves are ¢ategorised into restricted and general. fijnds as per charity legislation. As of year-end, Dancefesl hold a rèstncted fund balance of £1,455 12023", £nill. flectIng funds earmart¢ed for the J¢gsaw Connects project. Unrestrided funds comprise dasignaled and general funds. Within Unrestricted Funds, the Board has established £2,500 for investment in Danlest growth and ietains a contingèncy res8rve of £40,000. Remaining General lfreel funds total £20,686, a very slight deuease from £21,071 in the previous year. The investment policy pémits th8 trustees to invest surplus funds in Inte$1-earlng deposit accounts to optimis8 financFal growth, Going concern Following a comprehensive review of forecasted income and expenditure over the next 12 months.. as well as our net cash flow position, the Board is confident that Dantefest will meet its financial obligations as they fall due, énsunng the charity's continued operations and impact. In summary, d8$pite a minor reduclion in 10181 funds. Oancefesl's financial position remains stable, wilh a robust reserve strategy and a diversified income portfolio Ihal posibons the charity for future growth and sustainability. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document Th8 charity is conlrolW by Ils goveming document. the Memorandum & Articles of Association dated 6 March 2001, and Gonslitutes a company Ilmiled by guaranlea (No 041779001 as defined by the Companies Act 20C6 aTrJ as a Charity (No. 10923341. Re¢ruilment and appointrnent of nfrw trustee8 The board seeks lo achieve representation from a broad cross section of peopl& interested in prfynots'ng the 0.e¢ of the charity. 11 does this by widely publicising vacanGies and inviting applicalions. Applints are given infomiats'on regarding thè rol8 and responsibility of a charity Iruslee and company director. Existing board members appoint new members through a prOs$ of open recruitment.. an induction proc8ss is offered lo all new board recruits. The day to day running of the charity has been delegated by the Trustees to the executive director. Rl6k manag•m•nt The board has a duty lo identlfy and review the rlsks to which the chanty is exposed and lo ensure appropriate controls 8re in place lo provide reasonable assurance against fraud and 8rror Risk management within Danc8fesl is robust and embedded, '. A Risk Register is a standing item on the board agenda and Risk Is Gonsidered across all elements of the prc>gramme. This report has been prepared in accordan&8 With the special provisions of Part 15 of the CoMpanS Act 2IXJ6 relating to small companies. 61iilc.t. Approved by orderofthe board oftrustees on..,............................ and signed on its behalf by: C Stenlon - Trustee Page 6
Independenl Examlnefs R•port to the Trustè89 of Dancefg51 Indepond•nt examinees report to tho trusltts of Dan¢ofesl Ilh• Compan) I report to the charity trustees on my examinalion of the aOUnts of the Company for the year ended 31st Mar¢h 2024. R•spon81bllltle8 and basls of r•port A6 the charivs trustees ol the Company (and alw its directors for the pu0$88 of CAJmpany law) you are responsible for the preparatlon of Ihe accounts in accordan with the requirements ofthe Companles A¢1 2006 {Ihe 2006 A¢r). Havlng salisfied mysew Ihat the a¢Unts of the Company are not requlred lo b8 audited under Part 18 of the 2006 Act and are eligible for independent examln8tion, I report in respect of my exominailon of your charitys accounts as carrled out under Seelion 145 of the Charitses Act 2011 {'the 2011 ACYI. In earying out my examination I have followed the Directions given by the Charity Commlsslon under SeclSon 14515) (b) of the 2011 Act. Ind•p•nd•nt •xamln•f• •t•t•m•nt I hav8 completed my examinatlon. I confirm that no mattars have come to my attentlon in conn8CtIDn wlth Iho examination givlng me causo k> bellev•: a¢o)unting records were r)ot kept in r•spect of th8 Company as r6quired by Section 386 of thè 2006 Art" or the accounts do not accord with those records; or th6 accounts do not comply with the accounting requlrements of Section 396 of the 2006 Act othor th8n any requ1ment Ihat the a¢counts give a Irue and fair vw whl¢h is not a matter considered a$ part of an Independenl examlnation,. or the aecounts have not been prepared In aCrance wtth the methods and prlnclples ol the Siotement of Recommendgd PractTh for a¢countln9 and repon9 by charitio$ (applicable lo chaTitlo8 prnparing their accounts in awordanc• wlth the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102)). I havo no ¢on¢ems and have come across no Otr matter8 In connecllon the examination to whlch attentn lho be dran In Ihls report In order lo enable a proper understsndlNJ of the ac¢ount• to b? roached. Mellssa Godwln ACA ACCA The Richards Sandy Partnershlp Thomeloe House 25 Barboume Road Worcester Worceslershir6 WR1 1RU Page 7
Don109¢ Statsmenl of Flnanclal A¢tiv6tles {InrPorating an Incom8 and Expendlture Account) for the Y•ar Ended 31st March 2024 2024 Total funds 2023 Total funds Unrestricted funds Restrl¢led fiJnd$ Notes INCOME AND ENDOWMENTS FROM Grdnts, donations and legades 107,215 64,866 172,081 116.174 Charltabl• actlvltles Dance projects. classes & Workshops 71,757 71.757 . 72,472 Other tradlng actlvllies Investrnent incom& 4.034 479 4,034 479 1,896 95 Total 183,485 64,866 248,351 190.637 EXPENDITURE ON Ralslng lunds 8,207 1,207 2.304 Charftabl• a¢tlvltl•4 Dance prolects. clas808 & work3hopB 185,017 64,057 249.074 209.354 Total 193,224 64,057 257,281 211,658 NET INCOMEIIEXPENDITURE) Tran•fors bolwoen lunds 19.739) 1646) 809 18,930) (21,021) 19 N•1 mov•m•nt In lund• (10,3151 1,455 (8,930 121.0211 RECONCILIATION OF FUNDS Total funds brought forward 73,671 73,571 94.592 TOTAL FUNDS CARRIED FORWARD 63,186 1,455 ,641 73.571 The notes fom part of these financial slaivmeni8 Page 8
Dan¢èfost Balance Sheet 31st March 2024 2024 Totsl nds 2023 Total funds Unrestricted funds Restncted fijnds Notes CURRENT ASSETS Debtors Cash at bank and in hand 16 5,750 66.539 5,750 67,994 8,703 72,629 1,455 72.289 1.455 73,744 81,332 CREDITORS Amounts falling dué within one year 17 (9,1031 19,103) (7,761 } NET CURRENT ASSETS 63,186 1,455 64,641 73,571 TOTAL ASSETS LESS CURRENT LIABILITIES 63,186 1,466 64,641 73,571 NET ASSETS 83.188 1,465 64,641 73.571 FUNDS Unrestricted lunds.. General Fund Destgnated Conllngency Reserve Fund Designated Investment in DanrAfest Growth 19 20,686 40,000 2,600 21,071 50.000 2,500 63,186 73,571 Restricted fijnds 1,455 TOTAL FUNOS 64,641 73,571 The chantable company is 8ntiifed lo examplion Irom audit under Section 477 of th8 Companies Act 2006 for the year ended 31st March 2024. The members have not required the company lo obtain an audit of ils financial statements for the year ended 31st March 2024 in accnrdanc4 with Section 476 of the Compan5 Act 2006. The trustees acknowledge their responsibili$ lor (a) ensuring that thè charitable company keeps accounting e0rd$ that comply with Sectsons 386 and 387 01 the Companies Act 20CE and prepanng financial statements which give a true and fair view of the state of affairs of the chanlable company as at the end of each financial year and of its surplus or deficit for each financial year in accordanc£ with the requirements of Sethons 394 and 395 and which othemise comply wrth the requirements of the CompanEs Act 20C* relating to ffinan¢ial slatements. $0 far as applicable to the charitable company, (b) These financial statements have been prepared in accordance with thè provisions applicable to charitabl8 companies subject to the small companies regime. The finanaal statements wer8 approved by the Board of Trustees and authorised for issue . and were signed on rts tehalf by.. on C Slenton - Trus ee The notes fom part of these financial statements Pa9e 9
Dancef¢$l Not•s to the Flnancial Slat•mènts for the Year End•d 31st March 2024 STATUTORY INFORMATION The charity is a Private company, limlled by guaraniee, reglstered in England and Wales. The members of the company are the trust885 named in th8 Trustees. Report. In the event of the conyany beiro wound up. the liability In respo¢1 of Ihe guarantee Is1Smsled to £1. ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financlal slalgments of th• charltable company, whlch Is a publlc bgn8fil enilty under FRS 102, hove been prepared In accordance the Charities SORP (FRS 102> 'Accountsng and Reporting by Charities.. Statement of Recommended PractKe applicable lo chariknes prepadng Iheir accounts In accordance with the Finanal Reportlng Slandaftl applicable in the UK and Republic ol Irèland {FRS 102) Itffeclive 1 January 20191,, Financial R8portlng Slandard 102 The FinancS8l Reportlng Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financlal slatements have bwi preparad under Ihe hi8torlcal cost convontlon. The accounts are prepared in stsrfing. thich is thè functlonal encY of the charity. Monatary anJ)unts in thèse finan¢lal statements arn roundod to tho nearest £. The charity Is exempt from preparlng a eashilow stalement because it is not a larger charity. INCOME All income 15 roLxrfJni$ed In the Slatement of Flnancial Actlvllkns once Ihe charlty has entitlement to the funds. It Is probabl& that lh• Incomo will re¢olvod and tho amount can b• me88ur6d r•llably. Inrx)me from donatlons and grants, including govommenl grants, is recognlsed Ihern 16 evidence of entitlemonl to the gift, rtrc6lpt Is probable and Its amount Gan bo rneasured r81iably. Income from chwilable actlvttias for s•e•S provided is recognlsed In Iln? vllh the provlsim of thoso s•rvlces. Income from lrn(ng activili08. Induding Sale of merchandiso. Is recognisad on an accruals basis. EXPENDITURE Liabilities are reglsed as expenditure as sijon as there is a legal OT ¢on8lructive obligation committlng the chanty to that exponditure. it is probable Ihat a transfor of ecorMiC benefits will be required In settlement 'and the amount of the obligadon can bo mgasured reliably. Expondiluro Is accountod lor on an accrual$ bas1$ and has been d8ssffled undèr he8dlng8 that aggregate 811 cost rel8led lo the calagory. Vthere costs nn01 b8 directly attrfbuted to particular headings they have been allocated lo aclivitios on a basis con$lstenl wllh the use of resources. Support eosls are those ¥1$ Incurred dir•dly In $upport of expenditure on lh• obje¢t$ of th• charfty. TANGIBLE FIXED ASSETS Depreciation is provided al thé ft)Ilowing annual rates In order to wrlte off each asset over its eslimated usefvl Conwuier equlpment 33% on a)st and 25% on cost Coffputer equipment Pu1$8d beftye 1 Aprfl 2020 has been depreciatod a125% on cost and 33% on cost thereafter. The capltalisation limll Is £3,000, TAXATION The charity is exempt from o)rporats'on tax on its charitable activities. FUND ACCOUNTING Unrostricted funds can be used In acrx)rdance wlth the charitabla oblectlves at the discntion of the trustees. Reslricted fijnds can only be usèd for wlcular re8tricted purposes within the oblects of Ihe charity. Restrtctions ariso when spBc6fiad by Iho donor or when funds are raised for particular restricted wws. Further explanation of the nature and pu0$8 of each fund 15 induded in tho notes to the fin8nclal slatements. PENSION COSTS Th8 charitablè compgny opèrates a defined contrlbulion pgnslon sth8me. Contributlons payable to the charitsble companses pension scheme we charged lo the Stgtement of Financial Activibes in period to which they relate. Page 10 )ntinued...
Daneefest Not•s to th• Flnan¢lal Stat•mgnts- conllnu•d for tho Year Ended 31st March 2024 ACCOUNTING POLICIES - ¢ontlnued FUNDS HELD AS AGENT Funds received as agent are nol recognised as an asset in its accounts because the funds are not wthln its control. The receipt of funds as agent is not recognised as incorne nor is its distribution iecognised as expenditure. However, any fee receivable for 8¢ting as 998nt Is recognb6ed as income. OPERATING LEASES Rents payable under operating leases aro charged to the statement of financlal activtiies on a straight line basis over the lemi of the indlvidual leases lo which they relate. Rental rx)nc8ssion$ in respect of Covid 19 are reCognid over the period to l)ich the renlal holiday covern. FINANCIAL INSTRUMENTS The charity has ethted to apply the provisions of Section 11, Baslc Flnonclal Instruments, and Section 12 '0ther Flnancial Instruments Issues. of FRS 102 to all of its financial instruments. Flnanclal In¥trum•nts are reco9ni8•d when Ihe charity becorn paty to ¢onlractual provlslons of the In$trum8nL FInanal assets are offset. with the net amounts presented in the a¢ttunts where thera Is a legally enforceable rtght to set off the regnIsed amounts and there is an intention lo selAle on a nel basis or lo reallse th8 assel and $8ttl6 the Ilabilty SimultaneSty. B••l¢ Fln•nGlal A88•ts Basic financial ossels, which include trade and other recefvables and ¢ash and bank balances. are Inltially measured at transaction price Induding transactlon costs and are subsequenlly carried al amortised cost using Iho effective inleresl method unless the arrangemenl conslitules a financing transaction, where the Iransacknon is me8sured at the pr•sonl value ol the futurè I•1p¢S dlscounled al a market rate of Inter•8L B•&lc Flnanel•l Ll•bllltleo Basic financial li8bil¢ties, induding trade and other payables, are Inibalby recognised al transa¢tion prfce unless the arrangement constitutes a finanang transaction, where the dobl instrumonl Is measured al Ihe prosenl value of future receipts, dlscounled at a market rale of intsrosl. Debt Instruments are 8ubsequ8nlly carTled at omortlsed co81. u8ing Iho effgclNe Interest rnt• mollK)d. Trad8 payables are obligaltons to pay for goods or services that have boen aUlted In the ordinary courne ol the operaltons from suppliers. Accounts payabie are dasslfied as current liabililies rf payment 1$ due withln one yéar or less. 11 not, they are presented as non4urrènt liabllllles, Trdde payables are recognised initially at tr8n8acllon rmt. GRANTS, DONATIONS AND LEOACIES 2024 2023 Donotbns Grants Wor¢esler Munldpal Exhlbltlon Foundatlon 253 97,971 17,950 151,911 19,207 172,081 116,174 Page11 ¢y)ntinued...
Dane•f•st Notes to th• Flnanclal Statements - contlnued for the Year Ended 31st Mah 2024 GRANTS, DONATIONS AND LEGACIES - conllnu Grants recèivèd, induded in thè above, are as follows: 2024 2023 brighl Griml•y Charity Arts Council En9lad - NPO Baron Davenport's Charity The Bransford TNst Dance Htsb Birniingham CIC Dumbreck Charity Tho Eveson Tmsl Tenbury Town Coundl William A. Cadbury Charitable Trnst Worceslershlre County Council Worcester Cty Council Worcestershire Community Foundation 500 87.066 700 10,000 42.100 1,000 5,000 87,068 363 750 1,000 3,795 7.578 151,911 97.971 OTHER TRADING ACTIVITIES 2024 2023 Fundrnising évents Sale of merchandislng goods 2,420 1,614 915 4,034 1,896 INVESTMEiif INCOME 2024 2023 Bank InlereJl 479 95 IICOME FROM CHARrfA8LE ACTIVITIES 2024 2023 Aclivity Dance prolocl8, clo88es & workshops Danco probe¢l$, ¢18$8es & workshops Dance projects. d8S505 & workshops Dance projects. dasses & workshop5 Dance proJec15. classes & workshops Dan projects, dasses & workshops Dance proj•cl$, classes & workshops Dan projects, clas5 & work$ho Dance projects. d8sse8 & workshop8 Grnnts Progromma of Classes School Proiocls Communlty Projects Prolessional Wothshops Communlty Perfoan¢0$ Big Jigsaw Programm• Youth danco ChSldren's Dance Clubs Dan Dovebpment Leaders Group 4,000 28,325 26,420 2.191 920 175 4813 4,052 27,931 19,817 3,691 1.080 1,689 3,171 11,280 2,533 DanrA projects. classes & workshops 1.300 71,757 72.472 Grnnts recelved. Induded In the abové, ara as follows: 2024 2023 Mafvem Hills tlislricl Coundl Worrhster Cty Council 500 3.500 4,000 Page 12 continued...
Danc•l••l . Noles lo the Flnanclal Slatemenls- conllnued for tho Yoar End•d 3151 March 2024 RAISING FUNDS RAISING DONATIONS AND LEGACIES 2024 2023 Staff Costs FundraiseT leos Support costs 464 6,660 500 6,660 OTHER TRADING AcnvmES 2024 2023 Pur¢hag8s 1.547 1.340 Aggregate amounts 8,207 2,304 CHARITABLE ACTNMES COSTS Oired Costs {see note 9) Support ct)sts (see note 10) Totals Oanc4 pn)j8cts, dasses & workshops 235,246 13,828 249,074 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Renl and runnlng C08tB Insurance Telephone Postage and sl8tlon6ry Marketing, publlcty, adverts Blg Jlgsaw perfoance Youlh dance Project costs Professional wothshop Subscripltons Training Costs Progrdrnme of dasses Venue hire Worc•ster Children$ Group8 School prolecls Cornmunlty projects Travel Costs Sundry expenses Computer equipment and repairs Bank charges oopreciation 130,214 4,313 1,666 133,388 6.195 1.199 562 1.993 3,860 3.338 1.360 7.621 1.260 221 203 9.694 5.325 11,233 8.581 789 219 2,130 7,857 5,452 405 45.42B 515 293 321 7.464 11,055 9,880 193 199 285 2,374 715 2,288 42 235,246 200.171 Page 13 conlinuod...
Danufest
Notes lo the FlnanGial Slatements - ¢onllnued
for tho Yoar Endod 31st Mar¢h 2024
10.
SUPPORT COSTS
Gov8mance
costs
Dance projocts. Classes & w
Dan¢ef¢st .' Not•s lo th• Flnanclal Slal•ments- contlnu•d for the Year End 31sl Mar¢h 2024 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted lunds Reslri¢ted funds Totsl lund$ INCOME AND ENDOWMENTS FROM Grants. donalions and legacies 105,269 10,905 118.174 Charitsble adlvities Dance projec18, das885 & wothshop6 72,472 72,472 (Xh&r trading 8cbwtses Investmenl inwne 1,896 95 1.896 95 Totsl 179.732 10,905 190,637 EXPENDITURE ON Raislng funds 2,304 Charliabl• a¢tlvltl Danc• projects, daBSeS & worf(shop$ 198,449 10,905 209.354 Total 200,753 10.905 211,658 NEf INCOMEI{EXPENDrruRE) (21,021) (21,0211 RECONCILIATION OF FUNDS Totsl lunds brought forward 94,592 94,592 TOTAL FUNDS CARRIED FORWARD 73.571 73,571 15. TANGIBLE FIXED ASSErs Compuler equipment COST At 1st Aprtl 2023 and 31st M8r¢h 2024 5,610 DEPRECIATION At 1s1 April 2023 and 31st March 2024 5,610 NET BOOK VALUE At 31st March 2024 At 31st March 2023 DEBTORS.. AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2024 2023 Trad8 debtor8 Other deblo Prepayments 4,170 7.761 15 927 737 5,750 8,703 Page 15 (XyJnued...
Dan¢•f•st Notes to the Finan¢lal Statements - contind.. for lh• Y•ar End•d 31$t March 2024 17. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade creditors OiheT creditors Funds held as ageni Deferred Ino)me- income In advance Accrued exp8nses 3.737 415 2.949 560 963 3.500 4.252 9,103 7.761 D8ferr6d Income 01 £96312023: £nil) relates to fee$ received in advance for classes yet lo be held. The charlty had a commilmenl at Ihfr reportSng dale lo provide these clas50s, Ihornforo the Income has been deferred and 15 not recognised in thls pertod. 18. LEASING AGREEMENTS Minimum lease payments und•r non-cancallable operating leases fall due as follows.. 2024 2023 Wrthin one year Belween one and fNe years 1,795 7,480 1,888 9,275 3.778 PAOVEMENT IN FUNOS Nel rnovemenl in fvnds Transfers between funds At 31.3.24 Ai 1.4.23 Unrn8trlet•d fund• General Fund Deslgnaled Conlingency Reserve Fund Deslgnaled Investment In Dancefesl Growth 21,071 50,000 (9,739) 9,354 110,000) 20,686 40,000 2,500 2,500 73,571 {9,739) (646) 63,186 R•8trfd•d lund# Dance Hub Blm)Ingham InveBtment Programme Jigsaw Connects Fund 1646) 1,455 1A55 809 1M55 TOTAL FUNDS 73,571 {8.930) ,041 Page 16 c4)ntinued...
Dan¢•f•st . Nolos to the" Flnanclal Statemants - contlnuod for th• Yoar End•d 31st March 2024 19. MOVEMENT IN FUNDS - ¢onllnu•d Nel movement in funds, included In Ihe 8t are as follows: Incoming resources ReSou£S expended Movement sn fvnds Unrestrlet•d funds General Fund 183,485 (193,224) (9,739) R•$lrfcted funds Dance Hub Bimingham Investment Programme Jigsaw ConnKts Fund Projocts Youth Development Projocl 55.116 5,750 1,800 2.200 155,762) 14,2951 (1,8001 (2.200) (6461 1,455 64,8 (64,057) TOTAL FUNDS 248,351 (257,281) (8,930) C•)mparatlv•s for mov•m•nt In funds Net movement In funds Transfe betsveon fvnd$ At 31.3.23 Al 1.4.22 Unr0slrlct•d lunds General Fund Oesignaled Contlngency Reserve Fund Designated Invostmenl In D8nc8f•sl Grovhh 34,592 50,000 (21,021) 7,500 21,071 10.000 (7.500) 2.500 94.592 {21.0211 73,571 TOTAL FUNDS 94,592 {21,0211 73.571 Comparauve not movement In iknds, Included In the above arn as foNow8: Incomlng Iour8 Resources expended Movement in funds Unr•strlctsd lund• General Fund 179.732 <200,753) 121.021) Rvtrl¢t•d fund$ Cover Me In Sunshine Dan¢0 Days Jubilee- Crowns, Hats and Handba95 Project Projects 2.827 (2.827) 7.578 500 {7.578) (500) 10,905 {10.905} TOTAL FUNDS 190.637 {211.658> 121.021 > TRANSFERS BETWEEN FUNDS A transfer of £646 was rnade from the unrestrlL#ed general fund to the resbicted Dan Hub Birmingham Invostmont Programmo fund lo wvor the deficlt on th• project. Pa9e 17 continued...
Dan¢•fe$t ,'Notes to th• Flnanclal Stat•m•nts- contlnu•d for thè Year Endod 31st March 2024 RELATED PARTY DISCLOSURES Thoro waro no relaled party transactions lor the year ended 31st Mareh 2024 nor for the year ended 31 Marth 2023. 21. PURPOSE OF FUNDS UNRESTRICTED FUNDS General Fund The unrestricted general fund can ba used for any charftabfe purpose within the chaiiV$ obSectNes, rf approved by the trustees. D•$lgnatod Conllngency R•8•rve Fund This is a designated fund lo ensu thal, In tho event of 8 significant thp In Income. the chanty will be able lo cnntinue their current activltles for a perfod of time whilst consideration is gfven to ways in which additional funds may be f8i8ed. Inv••tm•nt In Danc•f•sl Grovth Fund Thls fvnd supports activlties which ensures Ihe advancement and growth of Dancefest. It 1$ deslqnated lo support future projects, researth and developrnent opportunities, exercised at Ihe Board's di8U6tion. RESTRICTEO FUNDS Don Hub Blrmlngham Investment Prografflme Fund Investment lo enable DanLX9fesl to raise its profile and creative aMbl¢k through a popup dance space for the clty and an artisl commlsslon {SthpaWI creating 8 new ple of dancè and dlgit81 work for wor&1•8 Llght Night 2024. Jlgsaw Connects Fund Development of Our established Jigsaw pmject {a dance workshop programme for edults wlth leaming dlsabilitiesl which aims lo provlde opportuni1S for partlclpanls to WOTk with 8 greater range ol dance artl$ts, rn18e artlstlc asplr8tion• for porfomanco vmrk ?d In¢fease the numbèr ol peoplo that wo worf( wlth. ProJ•cts Fund Thbs fund was restricted for the purpose of furKling sp8crflc onKff projects in line wilh the charfvs ¢)bjects. Youth D•v•lopm•nt Projoct Fund Youth con5ultatlon and reglonal partnershlp developmenl lo botter understand the exlstlng nefvK*rks, gap5 In pS1On. cuffent needs and priorities for young people In order lo design a new youth proiecl responding to these needs. Cov•r M• In Sunihln• Dan6• Days Fund A programm• of d8n¢e events hold throughout July and August 2022 whl¢h Included Adult workshop8 wlth guesl dance artists and a150 Children's Summer dance workshops and play aclivilios. Jubllm - Crowns, Hats and Handbags ProJ•¢t Our chan lo Dance Company chore<raph8d a dance to celebrate thè Queen's Jubllee in June 2022. Th18 was porfomed lo cir¢a 500 peoph at Cornmunty events held throughout Iho Jubllee Celebratlon weekend. Page 18