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2021-02-28-accounts

Company Registration Number - 6506094

The Charity Registration Number is :- 1129663

FFIN DANCE

Report and Unaudited Accounts

28 February 2021

FFIN DANCE

Report and accounts for the year ended 28 February 2021

Contents

Page
Charity information 1
Trustees' Annual Report 1
Statement of directors' responsibilities 5
Chartered Accountants' report 7
Funds Statements:-
Statement of Financial Activities 8
Statement of Financial Activities - Prior Year statement 9
Movements in funds 10
Revenue Funds 10
Fixed Asset funds 10
Income and Expenditure account 11
Summary of funds 10
Balance sheet 12
Notes to the accounts 13

FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

The Trustees present their Report and Accounts for the year ended 28 February 2021, which also comprises the Directors' Report required by the Companies Act 2006.

Reference and administrative details

The charity name.

The legal name of the charity is:- FFIN DANCE.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1129663.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

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FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

The principal operating address, telephone number, email and web addresses of the charity are:-

The Beaufort Theatre Beaufort Hill, Beaufort Ebbw Vale, NP23 5QQ

The registered office of the charity for Companies Act purposes is:-

49 Somerset Street Abertillery, , NP13 1DL

The Trustees in office on the date the report was approved were:-

Ruth Pratten Agnes Xavier-Phillips Eryl Dykes Sharon Harford Lisa Marie Bevan Fiona Griffiths

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

To advance education and training for the public benefit through the promotion and performance of dance, for all ages; in particular within the area of Gwent.

The main activities undertaken in relation to those purposes during the year.

As we move into our 5th year at The Beaufort Theatre we have faced many challenges with the venue being closed from March 2020

We have been fortunate to receive grants from funding organisations that have enabled the following:

Core costs Dance & Enhance Project Virtual Dance School Zoom Dance Classes Community Outreach Coordinator Post

Unfortunately, the activities have been severley affected by the COVID pandemic, which has left the Charity virtually dormant for the majority of the year.

2

FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

The main activities undertaken during the year to further the charity's purpose for the public benefit.

During the year we have remained in contact with our community through social media posts and regular media updates on progress and information about phased returning to the building for classes and workshops.

We acknowledge that we will continue to face challenging times, where local and regional engagement with the arts is traditionally low and the region has higher than average levels of deprivation. All of these issues are accentuated by a backdrop of ever decreasing public funding. However, despite this, our efforts to continue engaging audiences and developing new and innovative programme stands. We will achieve this by working collaboratively and in partnership, proving that we have a very valuable role to play in the creative community.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

The charity's strategies for achieving its aims and objectives in the future.

Our aim last season was to promote the company at a much higher level of marketing and networking which has been achieved with our website and the interactive blogging which takes places.

The main achievements and performance of the charity during the year.

Workshop figures have been lower than previous years due to COVID safety measures, however the outreach has been significantly higher due to online classes reaching young people in London, Bath and Hastings in addition to other parts of Wales

The difference the charity's performance during the year has made to the beneficiaries of the charity.

As the building from which we operate was closed, this meant that the professional dancers did not get to present their annual repertoire and all of our community dancers did not have a platform to share the work that they had undertaken. However we created an exceptional virtual community with our Zoom School and also managed a virtual R&D period with our professional dancers. This has resulted in a CREATE Grant from ACW which will see a clear development into a work for the community to share in our theatre space.

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FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

The degree to which the achievements and performance during the year have benefited wider society.

We have gained new clients through the use of Zoom and other social media platforms, so our outreach is wider.

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

Advertised via word of mouth, recommendations from current trustees, and other professional bodies (eg GAVO)

Financial review

The charity's financial position at the end of the year ended 28 February 2021

The financial position of the charity at 28 February 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Restricted Revenue Funds
Total Funds
Unrestricted Revenue Funds available for the
general purposes of the charity
Net income		 2021
£
21,303
2,074
27,741
29,815		 2020
£
861
861
7,651
8,512

4

FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

Policies on reserves.

It is the policy of the charity that the level of reserves should be maintained at least at £4,000. The trustees consider that reserves of this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charities current activities while consideration is given to ways in which additional funds may be raised.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Employment of disabled persons

We are reviewing our policy on this, however as the venue is not DDA compliant, it would depend on the disability.

Details of The Independent Examiner

David James FCCA Member of ACCA Child and Child Accountants Ltd 49 Somerset Street Abertillery Blaenau Gwent NP13 1DL

Statement of the Directors Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

5

FFIN DANCE

Company Registration Number - 6506094

Trustees' Annual Report for the year ended 28 February 2021

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 8 to 21.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 17 November 2021.

R PRATTEN Director and Trustee

6

Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 28 February 2021

FFIN DANCE

I report to the Trustees on my examination of the financial statements of the charitable company on pages 8 to 20 for the year ended 28 February 2021 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) and under the historical cost convention and the accounting policies set out on page 13.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described by you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination; have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Child and Child Accountants Ltd 49 Somerset Street Abertillery Blaenau Gwent NP13 1DL

17 November 2021

7

FFIN DANCE - Statement of Financial Activities for the year ended 28 February 2021

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 28 February 2021, as required by the Companies Act 2006)

Current year
Unrestricted
Funds
2021
£
Income & Endowments from:
Donations & Legacies
A1
762
Charitable activities
A2
2,619
Other
A5
20
Total income
A
3,401
Expenditure on:
Charitable activities
B2
1,897
Other
B3
291
Total expenditure
B
2,188
Net income for the year
1,213
Net income after transfers
A-B-C
1,213
1,213
Reconciliation of funds:-
E
Total funds brought forward
861
Total funds carried forward
2,074
SORP
Ref
Net movement in funds		 Current year
Restricted
Funds
2021
£
88,501
-
-
88,501
68,411
-
68,411
20,090
20,090
20,090
7,651
27,741		 Current year
Total Funds
2021
£
89,263
2,619
20
91,902
70,308
291
70,599
21,303
21,303
21,303
8,512
29,815		 Prior Year
Total Funds
2020
£
949
12,948
73
13,970
12,785
324
13,109
861
861
861
7,651
8,512

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

The notes attached on pages 13 to 21 form an integral part of these accounts.

8

FFIN DANCE - Statement of Financial Activities for the year ended 28 February 2021

Prior Year
Unrestricted
Funds
2020
£
Income & Endowments from:
Donations & Legacies
A1
949
Charitable activities
A2
12,948
Other trading activities
A3
-
Investments
A4
-
Other
A5
73
Total income
A
13,970
Expenditure on:
Raising funds
B1
-
Charitable activities
B2
12,785
Other
B3
324
Tax on surplus on ordinary activit
B3
-
Other taxation
B3
-
Total expenditure
B
13,109
B4
-
Net income for the year
861
Transfers between funds
C
-
Net income after transfers
861
861
Reconciliation of funds:-
E
Total funds brought forward
-
Total funds carried forward
861
Net movement in funds
SORP
Ref
Net gains on investments		 Prior Year
Restricted
Funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,651
7,651		 Prior Year
Total Funds
2020
£
949
12,948
-
-
73
13,970
-
12,785
324
-
-
13,109
-
861
-
861
861
7,651
8,512

All activities derive from continuing operations

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.'

The notes attached on pages 13 to 21 form an integral part of these accounts.

9

FFIN DANCE - Statement of Financial Activities for the year ended 28 February 2021

FFIN DANCE - Resources applied in the year ended 28 February 2021 towards fixed assets FFIN DANCE - Resources applied in the year ended 28 February 2021 towards fixed assets FFIN DANCE - Resources applied in the year ended 28 February 2021 towards fixed assets
for Charity use:-
2021 2020
£ £
Funds generated in the year as detailed in the SOFA 21,303 861
Net resources available to fund charitable activities 21,303 861

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

The notes attached on pages 13 to 21 form an integral part of these accounts.

Movements in revenue and capital funds for the year ended 28 February 2021

Revenue accumulated funds

Unrestricted
Funds
2021
£
Accumulated funds brought forward
861
1,213
2,074
Closing revenue funds
2,074
Summary of funds
Unrestricted
and
Designated funds
2021
£
Revenue accumulated funds
2,074
Recognised gains and losses before
transfers		 Restricted
Funds
2021
£
7,651
20,090
27,741
27,741
Restricted
Funds
2021
£
27,741		 Total
Funds
2021
£
8,512
21,303
29,815
29,815
Total
Funds
2021
£
29,815		 Last year
Total Funds
2020
£
7,651
861
8,512
8,512
Last Year
Total Funds
2020
£
8,512

The notes attached on pages 13 to 21 form an integral part of these accounts.

10

FFIN DANCE - Statement of Financial Activities for the year ended 28 February 2021

FFIN DANCE

Income and Expenditure Account for the year ended 28 February 2021 as required by the Companies Act 2006

Income
Income from operations
Other operating income
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Other expenditure
Realised losses on disposals of social investments which are programme related
Total expenditure in the year
Tax on surplus on ordinary activities
Retained surplus for the financial year
All activities derive from continuing operations
Net income after tax in the financial year
Net income before tax in the financial year
Investment income		 2021
£
91,882
20
91,902
91,902
70,017
291
291
-
70,599
21,303
-
21,303
21,303		 2020
£
13,897
73
13,970
13,970
12,461
324
648
-
13,433
537
-
537
537

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 13 to 21 form an integral part of these accounts.

11

FFIN DANCE - Balance Sheet as at 28 February 2021

Note
SORP
Ref
Fixed assets
A
Tangible assets
8
A2
Current assets
B
Cash at bank and in hand
B4
Creditors: amounts falling due within
one year
9
C1
Net current assets
The total net assets of the charity
The total net assets of the charity are funded by the
2021
£
2,623
32,192
(5,000)
27,192
29,815
funds of the charity, as follo		 5,598
-
ws:-		 2020
£
2,914
5,598
8,512
Restricted funds
Restricted Revenue Funds
12
D2
27,741
Unrestricted Funds
Unrestricted Revenue Funds
12
D3
2,074
Designated Funds
Total charity funds		 7,651
27,741
861
2,074
29,815		 7,651
861
8,512

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 7.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

R PRATTEN Trustee Approved by the board of trustees on 17 November 2021

The notes attached on pages 13 to 21 form an integral part of these accounts.

12

FFIN DANCE

Notes to the Accounts for the year ended 28 February 2021

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Going Concern

The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 28 February 2021, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.

Risks and future assumptions

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Dividends are accrued when the shareholder’s right to receive payment is established.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

13

FFIN DANCE

Notes to the Accounts for the year ended 28 February 2021

Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

Plant and machinery 10 % reducing balance

A regular annual review of the likelihood of asset impairment is undertaken.

Accounting for capital grants and fixed asset funds.

Gifts of tangible fixed assets or grants of a capital nature, given for the purposes of acquiring specific assets to be fully utilised in the furtherance of the objects of the charity, are credited to fixed asset funds after the donated asset has been received or sums have been properly expended on the restricted purpose.

Where the terms of the gift require the charity to hold the asset on an ongoing basis for a specific purpose, then the fixed asset fund so created is categorised as a restricted fixed asset fund, and the relevant restrictions are noted in the fixed asset note 8.

Where the terms of the gift are met once the asset is acquired, so allowing the charity to use the asset on an unrestricted basis, including the right to receive the proceeds of any future sale of the asset on an unrestricted basis, then the fixed asset fund so created is categorised as a designated fixed asset fund.

When assets are acquired for the furtherance of the charity's objects, utilising the charity's own unrestricted funds, a transfer is made from unrestricted funds to a designated fixed asset fund.

Whether acquired with unrestricted or restricted funds, the asset acquired is initially shown in the balance sheet at the full cost of acquisition or subsequent revaluation.

As the related assets are depreciated, in accordance with the depreciation policy,in order to reflect the dimunition in the asset,a transfer is made from the relevant fixed asset funds to either unrestricted or restricted revenue funds, as appropriate to the terms of the original gift, if any.

The effect of this policy is that the aggregate of all fixed asset funds shall equate to the net book value of fixed assets. In the first year that this policy was adopted, a transfer to fixed asset funds was made equivalent to the net book value of the assets.

Any residual liability to the donor arising from, for example, the asset's future sale, is disclosed as a contingent liability unless the event that would trigger repayment of the grant becomes probable in which case a liability for repayment is recognised.

Insofar as this policy relates to Government grants and to the extent that it may be a departure from the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), such departure is justified on the basis that it is in order to comply with the SORP.

14

FFIN DANCE

Notes to the Accounts for the year ended 28 February 2021

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.

There are no endowment funds.

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

There are no significant implications of financial instruments.

The net surplus before tax in the financial year is stated afte
Depreciation of owned fixed assets
6
Staff costs and emoluments
Salary costs
Gross Salaries excluding trustees and key management per
Total salaries, wages and related costs
The average number of full time staff employed in the year w
7
Deferred income - Restricted funds
Current Year
CFW
Total
These deferrals are included in creditors		 r charging:-
sonnel
as
Opening
Deferrals
£
-
-		 Released
from prior
years
£
-
-		 2021
£
291
2021
£
10,138
10,138
2
Received
less released
in year
£
-
-
2021
£
5,000		 2020
£
324
2020
£
-
-
2
Deferred
at year end
£
5,000
5,000
2020
£
-

15

FFIN DANCE

Notes to the Accounts for the year ended 28 February 2021

8 Tangible fixed assets

Current Year
Cost
At 1 March 2020
At 28 February 2021
Depreciation
At 1 March 2020
Charge for the year
At 28 February 2021
Net book value
At 28 February 2021
At 29 February 2020
9
Creditors: amounts falling due within one year
Deferred Income - Restricted funds
10 Income and Expenditure account summary
At 1 March 2020
Surplus after tax for the year
At 28 February 2021		 Land and
Buildings
£
-
-
-
-
-
-
-		 Plant &
Machinery
£
9,178
9,178
6,264
291
6,555
2,623
2,914		 Motor
Vehicles
£
-
-
-
-
-
-
-
2021
£
5,000
2021
£
8,188
21,303
29,491		 Total
£
9,178
9,178
6,264
291
6,555
2,623
2,914
2020
£
-
2020
£
7,651
537
8,188

11 Particulars of how particular funds are represented by assets and liabilities

At 28 February 2021
Tangible Fixed Assets
Current Assets
Current Liabilities
At 1 March 2020
Tangible Fixed Assets
Current Assets		 Unrestricted
funds
£
2,623
4,451
(5,000)
2,074
Unrestricted
funds
£
2,914
(2,053)
861		 Designated
funds
£
-
-
-
Designated
funds
£
-
-
-		 Restricted
funds
£
-
27,741
-
27,741
Restricted
funds
£
-
7,651
7,651		 Total
Funds
£
2,623
32,192
(5,000)
29,815
Total
Funds
£
2,914
5,598
8,512

16

FFIN DANCE

Notes to the Accounts for the year ended 28 February 2021

12 Change in total funds over the year as shown in Note 11 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Restricted funds:-
Restricted Revenue Funds
Total restricted funds
Total charity funds
13 Analysis of movements in funds over the year as s
Unrestricted and designated funds:-
Unrestricted Revenue Funds
Restricted funds:-
Restricted Revenue Funds		 Funds
brought
forward from
2020
£
861
861
7,651
7,651
8,512
hown in Note
Income
2021
£
3,401
88,501
91,902		 Movement in
funds in 2021
See Note 13
£
1,213
1,213
20,090
20,090
21,303
12
Expenditure
2021
£
(2,188)
(68,411)
(70,599)		 See Note 0
£
-
-
-
-
-
Other
Gains &
Losses
2021
£
-
-
-
Transfers
between
funds in 2021		 Funds carried
forward to
2022
£
2,074
2,074
27,741
27,741
29,815
Movement
in funds
2021
£
1,213
20,090
21,303

14 Ultimate controlling party

The charity is under the control of its legal members.

The company is ltd by guarantee. Every member of the charity is obliged to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

17

FFIN DANCE

Detailed analysis of income and expenditure for the year ended 28 February 2021 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

15
Donations, Grants and Legacies
Donations and gifts from individuals
Small donations individually less than £1000
Total public sector revenue grants
Small grants individually less than £1000
Blaenau Gwent County Borough Council
CFW
Voluntary Sector EM
Total donations and gifts from
individuals
Revenue grants from government and
public bodies
Community Foundation
GAVO
Theatres Trust
Main Grant
CFAP
The Foyle Foundation		 Current year
Unrestricted
Funds
2021
£
762
762
Current year
Unrestricted
Funds
2021
£
-
-
-
-
-
-
-
-
-
-
-		 Current year
Restricted
Funds
2021
£
-
-
Current year
Restricted
Funds
2021
£
1,100
35,000
15,375
3,370
2,000
4,553
15,000
2,103
8,000
2,000
88,501		 Current year
Total Funds
2021
£
762
762
Current year
Total Funds
2021
£
1,100
35,000
15,375
3,370
2,000
4,553
15,000
2,103
8,000
2,000
88,501		 Prior Year
Total Funds
2020
£
949
949
Prior Year
Total Funds
2020
£
-
-
-
-
-
-
-
-
-
-
-

----- Start of picture text -----
Total Donations, Grants and Legacies
Total Donations, Grants and A1 762 88,501 89,263 949
----- End of picture text -----

Legacies
16 Income from charitable activities - Trading Activit
Current year
Primary purpose and ancillary trading
Classes
Total Primary purpose and ancillary
trading
Sale of goods and services in accordance
with the charity's objects
Ticket Sales		 ies
Current year
Unrestricted
Funds
2021
£
367
1,963
289
2,619		 Current year
Restricted
Funds
2021
£
-
-
-
-		 Current year
Total Funds
2021
£
367
1,963
289
2,619		 Prior Year
Total funds
2020
£
90
4,669
8,189
12,948

18

FFIN DANCE

Detailed analysis of income and expenditure for the year ended 28 February 2021 as required by the SORP 2015

17 Total Income from charitable activities

Current year
Total income from charitable trading
Total from charitable activities
A2
18 Other income and gains
Current year
Total other income
A5
Sundry other income		 Current year
Unrestricted
Funds
2021
£
2,619
2,619
Current year
Unrestricted
Funds
2021
£
20
20		 Current year
Restricted
Funds
2021
£
-
-
Current year
Restricted
Funds
2021
£
-
-		 Current year
Total Funds
2021
£
2,619
2,619
Current year
Total Funds
2021
£
20
20		 Prior Year
Total Funds
2020
£
12,948
12,948
Prior Year
Total Funds
2020
£
73
73

19 Expenditure on charitable activities - Direct spending

Current Year
Total direct spending
B2a
Gross wages and salaries - charitable
activities
Artists costs
Travel and Subsistence - Charitable
Activities		 Current year
Unrestricted
Funds
2021
£
-
-
-
-		 Current year
Restricted
Funds
2021
£
10,138
-
12,972
23,110		 Current year
Total Funds
2021
£
10,138
-
12,972
23,110		 Prior Year
Total Funds
2020
£
-
446
7,240
7,686

20 Expenditure on charitable activities - Charitable trading

Current year
Current Year
Unrestricted
Funds
2021
£
156
Reallocated from support costs
9,603
Total charitable trading costs
B2b
9,759
Expenditure on charitable activities- Grant funding of activities
Current year
Current Year
Unrestricted
Funds
2021
£
-
Total grantmaking costs
B2c
-
Cost of goods for primary purpose
trading - Including movement in stock
Grants made to organisations		 Current year
Restricted
Funds
2021
£
-
-
-
Current year
Restricted
Funds
2021
£
37,439
37,439		 Current year
Prior Year
Total Funds
Total Funds
2021
2020
£
£
156
-
9,603
5,099
9,759
5,099
Current year
Prior Year
Total Funds
Total Funds
2021
2020
£
£
37,439
-
37,439
-

21 Expenditure on charitable activities- Grant funding of activities

19

FFIN DANCE

Detailed analysis of income and expenditure for the year ended 28 February 2021 as required by the SORP 2015

Breakdown of Grants made to organisations

Breakdown of Grants made to organisations
Current Year
The Beaufort Theatre
22
Current Year
Premises Expenses
Administrative overheads
Professional fees paid to advisors other than the
Financial costs
Support costs before reallocation
Less support costs reallocated to specific activiti
To charitable trading costs
To non charitable costs
Total support costs - Current Year
The basis of allocation of costs between activities is descri
Administrative overheads
Equipment,repairs,expenses and maintenance
Other Premises Costs
Support costs for charitable activities
Insurance
Telephone, fax and internet
Advertising and marketing
Room Hire
Sundry expenses
Depreciation & Amortisation in total for
Other legal and professional		 Current year
Current year
Unrestricted
Funds
Restricted
Funds
2021
2021
£
£
-
37,439
-
37,439
Current year
Current year
Unrestricted
Funds
Restricted
Funds
2021
2021
£
£
508
-
-
-
517
-
144
-
118
-
22
-
-
7,862
auditor or examiner
432
-
291
-
2,032
7,862
es
(9,603)
-
(291)
-
(7,862)
7,862
bed under accounting policies		 Current year
Total Funds
2021
£
37,439
37,439
Current year
Total Funds
2021
£
508
-
517
144
118
22
7,862
432
291
9,894
(9,603)
(291)
-		 Prior Year
Total Funds
2020
£
1,333
360
366
505
127
-
662
1,746
324
5,423
(5,099)
(324)
-
-
-
(324)
The basis of allocation of costs between activities is descri
23 Total Charitable expenditure
Current Year
Total direct spending
B2a
Total charitable trading costs
B2b
Total grantmaking costs
B2c
Total support costs
B2d
Total charitable expenditure
B2		 bed under accounting policies
Current year
Current year
Unrestricted
Funds
Restricted
Funds
2021
2021
£
£
-
23,110
9,759
-
-
37,439
(7,862)
7,862
1,897
68,411		 Current year
Total Funds
2021
£
23,110
9,759
37,439
-
70,308		 Prior Year
Total Funds
2020
£
7,686
5,099
-
-
12,785
The basis of allocation of costs between activities is described under accounting policies The basis of allocation of costs between activities is described under accounting policies The basis of allocation of costs between activities is described under accounting policies
**23 ** Total Charitable expenditure
Current Year Current year
Current year
Current year
Prior Year
Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
Total direct spending B2a 2021
2021
2021
2020
£
£
£
£
-
23,110
23,110
7,686
Total charitable trading costs B2b 9,759
-
9,759
5,099
Total grantmaking costs B2c -
37,439
37,439
-
Total support costs B2d (7,862)
7,862
-
-
Total charitable expenditure B2 1,897
68,411
70,308
12,785

20

FFIN DANCE

Detailed analysis of income and expenditure for the year ended 28 February 2021 as required by the SORP 2015

All the expenditure in the prior year was unrestricted.
Prior Year
Prior Year
Unrestricted
Funds
2020
£
Total direct spending
B2a
7,686
Total charitable trading costs
B2b
5,099
Total charitable expenditure
B2
12,785
24 Other trading expenditure unrelated to fundraising or charitabl
Current year
Unrestricted
Funds
2021
£
Reallocated from support costs
291
Non charity expenditure
B3b
291
Other trading expenditure unrelated to fundraising or charitable activi
Unrestricted
Funds
25 Total of other expenditure
Current year
Current Year
Unrestricted
Funds
2021
£
Non charity expenditure
291
Total other expenditure
B3
291
All the expenditure in the prior year was unrestricted.
Prior Year
Prior Year
Unrestricted
Funds
2020
£
Non charity expenditure
324
Total other expenditure
B3
324		 Prior Year
Unrestricted
Funds
2020
£
7,686
5,099
12,785		 Prior Year
Restricted
Funds
2020
£
-
-
-		 Prior Year
Total Funds
2020
£
7,686
5,099
12,785
e activities
Current year
Restricted
Funds
2021
£
-
-
ties - Prior Yea
Restricted
Funds
Current year
Restricted
Funds
2021
£
-
-
Prior Year
Restricted
Funds
2020
£
-
-		 Current year
Total Funds
2021
£
291
291
r analysis
Total Funds
Current year
Total Funds
2021
£
291
291
Prior Year
Total Funds
2020
£
324
324		 Prior Year
Total Funds
2020
£
324
324
Prior Year
Total Funds
2020
£
324
324

21