Company Registration Number - 6506094
The Charity Registration Number is :- 1129663
FFIN DANCE
Report and Unaudited Accounts
28 February 2022
FFIN DANCE
Report and accounts for the year ended 28 February 2022
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 2022
The Trustees present their Report and Accounts for the year ended 28 February 2022, 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.
1
FFIN DANCE
Company Registration Number - 6506094
Trustees' Annual Report for the year ended 28 February 2022
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 (resigned 16 November 2021) Sharon Harford Lisa Marie Bevan Fiona Griffiths (resigned 16 November 2021 Kathryn Price (appointed 16 November 2021) Louis Norman (appointed 16 November 2021)
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 6th year at The Beaufort Theatre we have contiued our recovery following the COVID pandemic.
We have been fortunate to receive grants from funding organisations that have enabled the following:
Core costs | Foyle Foundation, High Sheriff of Gwent, GAVO, Morel Trust Create Scheme | ACW Outreach | Margaret Davies Trust Community Voice, Community Choice Participatory Grant | BGCBC
Fortunately, the activities have been steadily increasing after the COVID pandemic.
2
FFIN DANCE
Company Registration Number - 6506094
Trustees' Annual Report for the year ended 28 February 2022
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 a second 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 over the last 2 seasons has been 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 increased more so than previous years due to COVID, however the outreach has been significantly higher due to online classes reaching young people in London and Bath 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 has now reopened, this meant that the professional dancers presented their annual repertoire in April and all of our community dancers had a platform to share the work that they had undertaken. We also managed a studio based R&D period with our professional dancers. This has resulted in a CREATE Grant from ACW which saw a clear development into a work for the community to share in our theatre space.
3
FFIN DANCE
Company Registration Number - 6506094
Trustees' Annual Report for the year ended 28 February 2022
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. We have made new partnerships with Gwent Police and the office of the High Sheriff of Gwent, together with the Blaenau Gwent Sports Development Team, Llanhilleth Institute and community group Off The Streets. We have undertaken outreach projects with these partners.
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 2022
The financial position of the charity at 28 February 2022 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 |
2022 £ 18,665 2,690 45,790 48,480 |
2021 £ 21,303 2,074 27,741 29,815 |
|---|---|---|
4
FFIN DANCE
Company Registration Number - 6506094
Trustees' Annual Report for the year ended 28 February 2022
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 :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
5
FFIN DANCE
Company Registration Number - 6506094
Trustees' Annual Report for the year ended 28 February 2022
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 5 August 2022.
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 2022
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 2022 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
5 August 2022
7
FFIN DANCE - Statement of Financial Activities for the year ended 28 February 2022
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 28 February 2022, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2022 £ Income & Endowments from: Donations & Legacies A1 326 Charitable activities A2 4,762 Other A5 37 Total income A 5,204 Expenditure on: Charitable activities B2 4,297 Other B3 291 Total expenditure B 4,588 Net income for the year 616 Net income after transfers A-B-C 616 616 Reconciliation of funds:- E Total funds brought forward 2,074 Total funds carried forward 2,690 SORP Ref Net movement in funds |
Current year Restricted Funds 2022 £ 65,527 - - 65,527 47,478 - 47,478 18,049 18,049 18,049 27,741 45,790 |
Current year Total Funds 2022 £ 65,853 4,762 37 70,731 51,775 291 52,066 18,665 18,665 18,665 29,815 48,480 |
Prior Year Total Funds 2021 £ 89,263 2,619 20 91,902 70,275 324 70,599 21,303 21,303 21,303 8,512 29,815 |
|---|---|---|---|
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 2022
| Prior Year Unrestricted Funds 2021 £ Income & Endowments from: Donations & Legacies A1 89,263 Charitable activities A2 2,619 Other trading activities A3 - Investments A4 - Other A5 20 Total income A 91,902 Expenditure on: Raising funds B1 - Charitable activities B2 70,275 Other B3 324 Tax on surplus on ordinary activit B3 - Other taxation B3 - Total expenditure B 70,599 B4 - Net income for the year 21,303 Transfers between funds C - Net income after transfers 21,303 21,303 Reconciliation of funds:- E Total funds brought forward 861 Total funds carried forward 22,164 Net movement in funds SORP Ref Net gains on investments |
Prior Year Restricted Funds 2021 £ - - - - - - - - - - - - - - - - - - - 7,651 7,651 |
Prior Year Total Funds 2021 £ 89,263 2,619 - - 20 91,902 - 70,275 324 - - 70,599 - 21,303 - 21,303 21,303 8,512 29,815 |
|---|---|---|
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 2022
| FFIN DANCE - Resources applied in the year ended 28 February 2022 towards fixed assets | FFIN DANCE - Resources applied in the year ended 28 February 2022 towards fixed assets | FFIN DANCE - Resources applied in the year ended 28 February 2022 towards fixed assets |
|---|---|---|
| for Charity use:- | ||
| 2022 | 2021 | |
| £ | £ | |
| Funds generated in the year as detailed in the SOFA | 18,665 | 21,303 |
| Net resources available to fund charitable activities | 18,665 | 21,303 |
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 2022
Revenue accumulated funds
| Unrestricted Funds 2022 £ Accumulated funds brought forward 2,074 616 2,690 Closing revenue funds 2,690 Summary of funds Unrestricted and Designated funds 2022 £ Revenue accumulated funds 2,690 Recognised gains and losses before transfers |
Restricted Funds 2022 £ 27,741 18,049 45,790 45,790 Restricted Funds 2022 £ 45,790 |
Total Funds 2022 £ 29,815 18,665 48,480 48,480 Total Funds 2022 £ 48,480 |
Last year Total Funds 2021 £ 8,512 21,303 29,815 29,815 Last Year Total Funds 2021 £ 29,815 |
|---|---|---|---|
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 2022
FFIN DANCE
Income and Expenditure Account for the year ended 28 February 2022 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 Net income after tax in the financial year Net income before tax in the financial year Investment income |
2022 £ 70,694 37 70,731 70,731 51,513 262 291 - 52,066 18,665 - 18,665 18,665 |
2021 £ 91,882 20 91,902 91,902 69,984 291 648 - 70,923 20,979 - 20,979 20,979 |
|---|---|---|
All activities derive from continuing operations
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 2022
| 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 |
2022 £ 2,361 46,878 (759) 46,119 48,480 funds of the charity, as follo |
2021 £ 2,623 32,192 (5,000) 27,192 29,815 ws:- |
|---|---|---|
| Restricted funds Restricted Revenue Funds 12 D2 45,790 Unrestricted Funds Unrestricted Revenue Funds 12 D3 2,690 Designated Funds Total charity funds |
27,741 45,790 2,074 2,690 48,480 |
27,741 2,074 29,815 |
|---|---|---|
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 5 August 2022
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 2022
- 1 Accounting policies
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 2022, 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 2022
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 2022
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.
2 Liability to taxation 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.
3 Winding up or dissolution of the charity
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.
- 4 Significance of financial instruments to the charity's position
There are no significant implications of financial instruments.
| 5 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 Blaenau Gwent County Borough Council Total These deferrals are included in creditors Net surplus before tax in the financial year |
r charging:- sonnel as Opening Deferrals £ 5,000 5,000 |
Released from prior years £ - - |
2022 £ 262 2022 £ 13,984 14,345 2 Received less released in year £ (5,000) (5,000) 2022 £ - |
2021 £ 291 2021 £ 10,138 10,138 2 Deferred at year end £ - - 2021 £ 5,000 |
|---|---|---|---|---|
15
FFIN DANCE
Notes to the Accounts for the year ended 28 February 2022
8 Tangible fixed assets
| Current Year Cost At 1 March 2021 At 28 February 2022 Depreciation At 1 March 2021 Charge for the year At 28 February 2022 Net book value At 28 February 2022 At 28 February 2021 Creditors: amounts falling due within one year 9 Creditors: amounts falling due within one year Accruals Deferred Income - Restricted funds PAYE, NIC VAT and other taxes 10 Income and Expenditure account summary At 1 March 2021 Surplus after tax for the year At 28 February 2022 |
Land and Buildings £ - - - - - - - |
Plant & Machinery £ 9,178 9,178 6,555 262 6,817 2,361 2,623 |
Motor Vehicles £ - - - - - - - 2022 £ 360 - 399 759 2022 £ 29,491 18,665 48,156 |
Total £ 9,178 9,178 6,555 262 6,817 2,361 2,623 2021 £ - 5,000 - 5,000 2021 £ 8,512 20,979 29,491 |
|---|---|---|---|---|
11 Particulars of how particular funds are represented by assets and liabilities
| At 28 February 2022 Tangible Fixed Assets Current Assets Current Liabilities At 1 March 2021 Tangible Fixed Assets Current Assets |
Unrestricted funds £ 2,361 1,088 (759) 2,690 Unrestricted funds £ 2,623 4,451 2,074 |
Designated funds £ - - - Designated funds £ - - - |
Restricted funds £ - 45,790 - 45,790 Restricted funds £ - 27,741 27,741 |
Total Funds £ 2,361 46,878 (759) 48,480 Total Funds £ 2,623 32,192 29,815 |
|---|---|---|---|---|
16
FFIN DANCE
Notes to the Accounts for the year ended 28 February 2022
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 2021 £ 2,074 2,074 7,651 27,741 29,815 hown in Note Income 2022 £ 5,204 88,501 70,731 |
Movement in funds in 2022 See Note 13 £ 616 616 20,090 18,049 18,665 12 Expenditure 2022 £ (4,588) (68,411) (52,066) |
See Note 0 £ - - - - - Other Gains & Losses 2022 £ - - - Transfers between funds in 2022 |
Funds carried forward to 2023 £ 2,690 2,690 27,741 45,790 48,480 Movement in funds 2022 £ 616 20,090 18,665 |
|---|---|---|---|---|
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 2022 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
----- Start of picture text -----
15 Donations, Grants and Legacies
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2022 2022 2022 2021
£ £ £ £
Donations and gifts from individuals
Small donations individually less than £1000 762 - 762 949
Total donations and gifts from individuals 326 - 326 762
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2022 2022 2022 2021
£ £ £ £
Revenue grants from government and
public bodies
Small grants individually less than £1000 - 1,500 1,500 1,100
Blaenau Gwent County Borough Council - 17,101 17,101 35,000
Voluntary Sector EM - - - 15,375
Theatres Trust - - - 3,370
The Foyle Foundation - 2,000 2,000 2,000
GAVO - 1,500 1,500 4,553
Main Grant - - - 15,000
CFAP - - - 2,103
CFW - - - 8,000
Community Foundation - 5,948 5,948 2,000
Arts Council Wales - 24,478 24,478 -
PCC - 10,000 10,000 -
Total public sector revenue grants - 62,527 62,527 88,501
Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries)
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2022 2022 2022 2021
£ £ £ £
Revenue grants and donations from non
public bodies
Margaret Davies Trust - 3,000 3,000 -
Total private sector revenue grants - 3,000 3,000 -
Total Donations, Grants and Legacies
Total Donations, Grants and A1 326 65,527 65,853 89,263
Legacies
16 Income from charitable activities - Trading Activities
Current year Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total funds
Funds Funds
2022 2022 2022 2021
£ £ £ £
Primary purpose and ancillary trading
Sale of goods and services in accordance - - - 367
with the charity's objects
Classes 3,626 - 3,626 1,963
Ticket Sales 1,136 - 1,136 289
Total Primary purpose and ancillary 4,762 - 4,762 2,619
trading
----- End of picture text -----
18
FFIN DANCE
Detailed analysis of income and expenditure for the year ended 28 February 2022 as required by the SORP 2015
17 Total Income from charitable activities
----- Start of picture text -----
Current year Current year Current year Prior Year
Current year Unrestricted Funds Restricted Funds Total Funds Total Funds
2022 2022 2022 2021
£ £ £ £
Total income from charitable trading 4,762 - 4,762 2,619
Total from charitable activities A2 4,762 - 4,762 2,619
18 Other income and gains
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current year Funds Funds
2022 2022 2022 2021
£ £ £ £
Sundry other income 37 - 37 20
Total other income A5 37 - 37 20
19 Expenditure on charitable activities - Direct spending
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2022 2022 2022 2021
£ £ £ £
Gross wages and salaries - charitable activities - 13,984 13,984 10,138
Travel and Subsistence - Charitable Activities - - - -
Artists costs - 19,129 19,129 12,972
Total direct spending B2a - 33,621 33,621 23,110
20 Expenditure on charitable activities - Charitable trading
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2022 2022 2022 2021
£ £ £ £
Cost of goods for primary purpose trading - Including movement in stock - - - 156
Reallocated from support costs 9,603 - 9,603 5,099
Total charitable trading costs B2b 9,603 - 9,603 5,255
21 Expenditure on charitable activities- Grant funding of activities
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2022 2022 2022 2021
£ £ £ £
Grants made to organisations - 8,706 8,706 37,439
Total grantmaking costs B2c - 8,706 8,706 37,439
----- End of picture text -----
19
FFIN DANCE
Detailed analysis of income and expenditure for the year ended 28 February 2022 as required by the SORP 2015
| 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 describ Administrative overheads Support costs for charitable activities Breakdown of Grants made to organisations Other Premises Costs Insurance Telephone, fax and internet Equipment,repairs,expenses and maintenance Advertising and marketing Room Hire Sundry expenses Depreciation & Amortisation in total Other legal and professional |
Current year Unrestricted Funds 2022 £ - - Current year Unrestricted Funds 2022 £ 1,709 - 390 133 116 99 - auditor or ex 970 262 4,588 es (9,603) (291) (5,306) ed under accou |
Current year Restricted Funds 2022 £ 8,706 8,706 Current year Restricted Funds 2022 £ - - - - - - 4,790 aminer - - 5,151 - - 5,151 nting policies |
Current year Total Funds 2022 £ 8,706 8,706 Current year Total Funds 2022 £ 1,709 - 390 133 116 99 4,790 970 262 9,739 (9,603) (291) (155) |
Prior Year Total Funds 2021 £ 508 - 517 144 118 22 7,862 432 291 9,894 (5,099) (324) 4,471 |
|---|---|---|---|---|
| The basis of allocation of costs between activities is describ 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 All the expenditure in the prior year was unrestricted. |
ed under accou Current year Unrestricted Funds 2022 £ - 9,603 - (5,306) 4,297 |
nting policies Current year Restricted Funds 2022 £ 33,621 - 8,706 5,151 47,478 |
Current year Total Funds 2022 £ 33,621 9,603 8,706 (155) 51,775 |
Prior Year Total Funds 2021 £ 23,110 5,255 37,439 4,471 70,275 |
| 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 | 2022 2022 2022 2021 £ £ £ £ - 33,621 33,621 23,110 |
|
| Total charitable trading costs | B2b | 9,603 - 9,603 5,255 |
|
| Total grantmaking costs | B2c | - 8,706 8,706 37,439 |
|
| Total support costs | B2d | (5,306) 5,151 (155) 4,471 |
|
| Total charitable expenditure | B2 | 4,297 47,478 51,775 70,275 |
|
| All the expenditure in the prior year | was unrestricted. |
20
FFIN DANCE
Detailed analysis of income and expenditure for the year ended 28 February 2022 as required by the SORP 2015
----- Start of picture text -----
Prior Year Prior Year Prior Year
Unrestricted Restricted Total Funds
Prior Year Funds Funds
2021 2021 2021
£ £ £
Total direct spending B2a 23,110 - 23,110
Total charitable trading costs B2b 5,255 - 5,255
Total charitable expenditure B2 70,275 - 70,275
24 Other trading expenditure unrelated to fundraising or charitable activities
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2022 2022 2022 2021
£ £ £ £
Reallocated from support costs 291 - 291 324
Non charity expenditure B3b 291 - 291 324
Other trading expenditure unrelated to fundraising or charitable activities - Prior Year analysis
Unrestricted Funds Restricted Funds Total Funds
25 Total of other expenditure
Current year Current year Current year Prior Year
Current Year Unrestricted Funds Restricted Funds Total Funds Total Funds
2022 2022 2022 2021
£ £ £ £
Non charity expenditure 291 - 291 324
Total other expenditure B3 291 - 291 324
All the expenditure in the prior year was unrestricted.
Prior Year Prior Year Prior Year
Unrestricted Restricted Total Funds
Prior Year Funds Funds
2021 2021 2021
£ £ £
Non charity expenditure 324 - 324
Total other expenditure B3 324 - 324
----- End of picture text -----
21