Dance Consortium limited FINANCIAL STATEMENTS for the year ended 31 March 2024 Company Registration No. 6179223 Charity No. 1130289 Dance Consortium Limited TRUSTEES AND PRINCIPAL ADVISERS TRUSTEES Mr Anand Bhatt Mr Sebastian Cater Mr Stephen Crocker Ms Helen Costello Mr Andrew Hurst Ms Rosalind Kay-Price Ms Marianne Locatori (Co-chair) Mr Michael Ockwell (resigned 13 December 2023) Ms lona Waite Ms Suzanne Walker (Ctrchair) EXECUTIVE DIRECTOR Mr Joe Bates SECRETARY Ms Helen Costello REGISTERED OFFICE clo Blrmingham Hippodrome Theatre Hurst Street Birmingham 85 4TB BANKERS National Westminster 8ank plc 13 Market Place Readin8 RGI 2EP SOLIC5TORS Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES AUDITOR Topaz Solutions Limited Chartered Accountants 5 Giffard Court Millbrook C105e Northampton NN5 5JF Page I Dance Consortium Limited TRUSTEES, REPORT for the ear ended 31 March 2024 The Trustees (who are also the directors for the purposes of company law) submit their annual report and the audited financial statements of the charitable company 1.the companfl for the year ended 31 March 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Dance Consortium Limited was established in March 2007 (registered number 6179223) and its constitution is set out in a Memorandum and Articles of Association (last amended 29 February 2008). The company is a company limited by guarantee and is also a registered charity (number 1130289). The company is also registered for VAT (805736919). Dance Consortium Limited comprises 19 member theatres and other theatres that take part in tours on an occasional basis. Mernber theatres contribute to the core costs of the organisation and are listed on the website: www.danceconsortium.com. The objects of Dance Consortium Llmited are to advance arts and culture by providing the public across the UK access to a range of international contemporary dance experiences that would not otherwise be available. The governin8 body of the company is a board of ten non-executive Trustees. No Trustee received any remuneration in the year. The Trustees of the charitable company during the period were as follows: Mr Anand Bhatt Mr Sebastian Cater Mr Stephen Crocker Ms Helen Costello Mr Andrew Hurst M5 Rosie Kay-Price Ms Marianne Locatori (Co-chair) Mr Michael Ockwell (resigned 13 December 2023) Ms lona Waite Ms Suzanne Walker (Co-chair) The Charity is implementin8 the Charity Commission's Code for the Voluntary and Communlty Sector "Good Governance". Trustee5 receive a full handbook and induction on appointment. New Trustees are eletted by the Members and at least 50% have experience of Dance Consortium as a Member. They are experienced arts managers and have governance experience in their own orEanisation5. In 2017 the Board and members agreed that independent members should be appointed to the Board in order to diversify its membership, recruitment commenced in September 2018 and four new members were appointed at the AGM in December 2018 with an additional 4 members including 2 independent members being appointed in January 2021. A new member Director was appointed in December 2022. There is currently a vacancy for a member venue Director with recruitment taking place in autumn 2024. All Members receive copies of governance documents, membership agreements, Dance Consortium's Business and Strategic Plans, risk registers, applications to and funding agreements with Arts Council England, All members participate in deciding and planning the artistic programme and receive quarterly financial reports. Page 2 Dance Consortium Limited TRUSTEES. REPORT for the year ended 31 March 2024 The Board meets four times each year. The Board takes a view and monitors progress on budgets and financial projertions and associated and ancillary activities including: the use and development of the website and other digital communications," marketing and technical support for tours; marketing, technical and education seminars involving the wider dance sector; risk registers. policies and procedures, conflicts and interest and general communications with key stakeholders. Attendance at all meetings has been good. with attendance supported through using virtual meeting tools to enable wider participation, reduce barriers to access that can be presented by travel and contribute to the environmental action plan. This was used effectively during the periods of lockdown throughout 2020 and 2021 and has been continued as a standard procedure for board meetings, retainin8 face to face contatt through the membership meetings and Annual General Meetin8. Over the year the Board has considered a range of issues Includin8 the viability of proposed tours, specific aspects of policrf and operations reporting key proposaSs and decisions to meetlngs of members which follow Directors, meetings. The board has also strengthened its Equity, Diversity and Inclusion policy and action plan. with a Specific away day planned for September 2024 to interrogate and develop thi5 further. Internal contro15 The Board is responsible for maintaining a sound system of intemal control and budget monitoring. Following an option5 analysi5 by the Executive Director in 2022, the board a8reed that as of 1st April 2023, accountancy services will be provided by Rowlands Webster Accountants. Previously, accountancy services had been provided by a contract with member venue Birmingham Hippodrome Theatre. Rowlands Webster Accountants also provide payroll and support for HMRC returns and filing at Companies House and the Charitles Commission. Budgets, management accounts and cash flow for the currerbt year and outline budgets for the next 2- 3 years are presented at board meetings. These cover the projected period of Arts Council funding and Dance Consortium Limited's 5-year strategic plan. The annual bud8et is presented to and approved by the Board priorto each newfinancial year. Management accounts in which actual results are compared against budgeted figures are issued monthly to the Executive Dirertor for review and presented to the Board at each meeting for review. Review of risks The Board has overseen a review of the major risks to which the Charity is exposed. and systems have been established to mitigate these risks. Internal risks are mlnimised by the implementation of procedures for authorisation and monitorin8 of all transactions, and potential external risks to future Income levels and the availability of product are addressed by the Board of Trustees. In 2022, four sub- committees were introduced to the governance structure, made up of Directors and Members. One of these subcommittee5 (Dynamism) oversees the governance procedures including a deeper interrogation of the risk register, has oversight of security and data protection and monitors financial controls alongside the Executive Director. A full review of the risk management plan was carried out in September 2023 followlng the ongoing risk monitoring of the effects of the global pandemic. The cancellation of tours due to a pandemic was reduced but additional risks associated with major incidents effecting both national and international Page 3 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 travel, alongside the financial challenges facing many local authorities across the country, continued to have potential impact different sectors including theatre. These risks were ranked alongside the risks of budget overspends and cash flow management associated with tour cancellation or venues dropping out of tours. Assurances were given by Arts Council England that reserves accumulated from the cancellation and postponement of tours could continue to be carried forward to fund future touring plans to support the overall ecology. In 2024. Nottingham Theatre Royal, a longstanding member of the consortium, was unable to renew its membership due to ongoing challenges with local authority funding. However. the consortium remained strong and mitigated this with a new partnership between Fabric Ithe dance agency in the Midlands) and Nottingham Playhouse. Southbank Centre, London also joined as a new member in 2024, and the Executive Director is in conversation with several potential new members for 2025. Throughout 2023124 the planning of future tours continued to be reviewed by the Directors and all members at regular meetings. Dance Consortium Limited has been regularly funded by Arts Council England since 2008, firstly as a Regularly Funded Organisation (RFO) and since 2012 as a National Portfolio Organisation {NPO). The current funding period 2023-2026 commenced in April 2023 and Arts Council subsequently confirmed that this would be extended until March 2027, with a streamlined application process taking place in autumn 2024, Activity Plans, includin8 Outcomes and targets, and Investment Principle plans are updated and approved by the board of director5 and submitted to Arts Council and on a quarterly ba515 alongside management accounts and board papers. The Co-chairs and Executive Director also meets annually with Dance Consortium's Relationship Manager at Arts Council England to monitor pro8resS. Following extensive consultation with the membership over 18 months, in September 2023, the board of Directors signed off Dance Consortiurn's 5-year Strategic Plan 2023-2028 which will guide the organisation over the new fewyears. This has been approved by the full membership and submitted to Arts Council En8land. It includes fourcore strategies: Touring and Audiences, Learning and Engagement, Talent and Sector Development, and the Change Programme. The Change Programme is being funded until March 2026 with funding received from Arts Council England as part of the Transform Programme that was established to support those NPOS that received a reduced funding offer (Dance Consortium received a 9.7% reduction from previous fundin8 levels) to develop new business modelling to be sustainable. No tours are planned without confirmation of sufficient funding and tour budgets include a small contingency to mitigate the possible impact of costs that cannot be anticipated. Foreign exchange risks are mitigated by the forward purchase of forei8n currency where appropriate or through negotiating fees with companies. Dance Consortium Limited operates with a minimal overhead with currently only one permanent, full time employee, the Executive Director. Asof the I. April 2023, Dance Consortium continued to be based at Birrningham Hippodrome, but as part of the Dance Hub Birmingham, with office space and hot desking offered in-kind alongside One Dance UK. IT sUPPOrt is also on hand. pro bono from One Dance UK and in July 2023 Dance Consortium registered for a free charity account with Microsoft 365, which now operates emails and shared filing system across the team. In February 2023, Dance Consortium started recruiting for a more permanent core team to reduce the freelance costs and increase capacity. This started with the role of Senior Producer which has been offered on a 4 day per week contract starting in June 2024. Further recruitment will take place in 2024/25. Page 4 Dance Consortium Limited TRUSTEES, REPORT for the ear ended 31 March 2024 Tour bookingi management, producin& marketin& PR/press. social media and technical requirements are contracted on a freelance basis as required, with most costs being allocated to tour budgets. Producing for learning and engagement artivities sits within the core budget as a fundamental function of Dance Consortium beyond the touring activity. Management of the website is also contracted on a freelance basis. with additional services provided on a tour-by-tour basis. OBJECTIVES AND ACTIVITIES Dance Consortium Limited was established to promote, maintain, improve and advance the education of the public in the dramatic arts and to promote, maintain, improve and advance the appreciation of the dramatic arts within the United Kingdom. It provides the public with a range of international contemporary dance experiences which would not otherwise be available. Dance Consortium Limited seeks to ensure that access is not restricted by geography or ability to pav. Its aims are.. To make high-quality intemational contemporary dance available to the public across the UK; To provide a related programme of education and participatory initiatives; To build the capacity of member theatres to present a diverse programme of international contemporary dance,. To encoura8e member theatres to work together to share experience and to plan education and marketing initiatlves; To reach new audiences and to deepen public understanding and appreciation of UK dance In an international context; To promote engagement with dance and culture of diverse cultures within the UK through reflecting the diversity of contemporary society. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charlty should undertake. ACHIEVEMENTS AND PERFORMANCE 2023124 is the first year of Dance Con8Ortlum'$ 2023-26 funding period (now extended to 2027) as agreed with Arts Council England and aLso represents th6first year of the organisation's 5-Year Strategic Business Plan. Followlng his appointment in 2022. the Executive Director spent time durlng 2023124 reviewing and updatingthe policies and procedures for the organisation, which all contribute tOW8rds the now completed, 5-y8ar Strategic Pian and Change Programme. The Directors took part an away day in February 2024 which explored the state of the sector post- pandemic and delved into the current risks affecting the arts and cultural sector and on the impact this has on Dance Consortium and the organisation's future activities. The board also used this opportunityto review previous tour sales data and the equity, diversityand inclusion policywhich supported future planning. 4 subcommittees that were established in February 2023to oversee thevarious elements of the organisation continued to meetto further interrogate specific areas of work including 8rtistic planning, engagement activities. finance and environmental policies and plans. These groups were developed in line with the Arts Council England's Investment Principles, with Terms of Reference, and members are encouraged to join at least one of these subcommittees for a period of 2 years (due to be reviewed in February 2025). These groups will continue to play a part and Page 5 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 support the different elements of Dane Consortium's operation throughoutthe investment period 2023-26. There are currently: Ambition and Quality: Overseeing artistic planning, programmingand evaluation Inclusivity and Relevance: Overseeing engagement work. EDI policy and safeguarding Dynamism: Overseeinggovemance. risk, digital development and innovation Environmental Responsibility: Overseeingtours. technical and implementation of the EnvironmentalAction Plan The planning processesfor2023-28 has enabled members to consider whatfurther changes to the operation of the Consortium will be required to develop and to continue to develop audiences for international contemporary dance as well as how it contributes strongly towards Arts Councll's new 10-year strategy Lets Create. The groups are likely to change and develop over the next 5 years to stay appropriate and relevant for the operations of Dance Consortium Limited. In 2023/24, Dance Consortium started implementing the Change Programme, which is being supported through a £107,564 grant from Arts Council England's Transform Programme. Through thls Dance Consortium received £54,417 for Tour Stabilisation activity including underpinning the operating costs of the tours in 2023124 {Ailey 2 and Sao Paulo Dance Company) and £53,100 towards the Change Programme which includes; consultancy fees and busSness remodelling costs to support scoping, designing and developing new business models to diversify income streams; a training programme for the Executive Director to support the transition of the business model; administrative support for Dance Consortium, backfilling the Executive Director's role to free up his tirne to develop new ways of working through commercial exploitation and development; facilitated board away days involving guest 5peakersltrainers,' movinE from Birmingham Hippodrome (the current administrative base) to One Dance UK office and centralising services (accountancy, IT, HR etc.). Two tours successfully took place in Autumn 2023 (Ailey 2) and Spring 2024 {Sao Paulo Dance Company) with the contracted freelance teams continuing. Additional funding from Transform funding helped to mitigate the increased costs of touring and contributed towards travel, accommodation, freight and technical costs. Dance Consortium engaged two consultants to work with the Executive Director on the Change Programme which has so far resulted in a new fundraising plan, which the board signed off in December 2023, that focuses on 3 areas of development: individual giving (including High Net Worth individuals),. corporate sponsorship,. and investment from international funding agencies and or8ani5ations. We then held the first cultivation event as part of openin8 Sao Paulo Dance Company Tour, resulting in £21k donations pledged so far. Dance Consortiurn has also successfully supported Eun-me Ahn Companls application to the Korean Arts Management Service, resulting in funding for the international flights as part of the spring 2025 tour. Dance Consortium has now registered Consortium for Gift Aid to maximise donations and established a 'support us, page on the website to develop smaller amounts. Additionally, the Executive Director worked with a recruitment consultant to support the recruitment of the new permanent posts. This has ensured robust processes are in the place and that Dance Consortium can be an 'accessibility confident. organisation in how it recruits. This means providing clear, acce55iblejob packs and descriptions, offering questions in advance and providing alternative methods for applications le.g. video and/or recorded). Page 6 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 As part of his development, the Executive Director completed an Effertive Digital Fundraising Course led by Substrakt, had several meetings with commercial producers to understand commercial touring markets and commercial programming decisions and is being mentored by the Managing Director of Cameron Mackintosh / New Adventures. This work was backfilled by engaging an administrator on one day per week to increase the capacity of the Executive Director throughout this period. Overthe past year, Dance Consortium. in common with the whole of the UK 8rts, has continued to adapt its operation and programme in response tothe global pandemic, inflation. rising costs of touring and the imp8Ct of other global events includingthe war in Ukraine. Membertheatres have continued to seevarieble audiences as different parts of the country dealwith cost-of-living crisis. However. members stay committed to the unique consortium way of working, audience development and sector development opportunities Dance Consortium Limited provides. Changes to the current programme and tours due to risingcosts have been informed by regular risk assessments and options analyses undertaken by the Board and membership of the Consortium. This was taken into consideration when developingthe 2023-28 Strategic Plan. fundraising ambitions and touring strategy, as touring costs continue to rise. This includes exploring shorter. more cost-effectivetours and working in partnership with intern8tional 8rts counciLs to support incoming international touring as part of the Change Programme. Planning forfuture touring activttywas ongoingduringthe year, members and the Board of Dance Consortium considered various options to continue to bring innovation to the theatre's programme at the same time as supporting members to manage any associated risks. To support these risks movingforwards, the board has agreed, as per the funding agreement with Arts Council England. to increase the (eveis of reservesto £150,000 overthe ne*c 3 years. Cash flow projections up until 2026 showthat this is achievable based on current plans. Having cancelled and postponed three previous tours during the global pandemic, in 2023124 Dance Consortium members continued to work together to re-pro8ramme two of these tours: - Ailey 2- the New York based junior company of Alvin Ailey American Dance Theater, which returned for its 2 Dance Consortium tour (the last tour was in 2011), giving venues an established well-known and much-loved company with a strong brand to help them re-engage audiences and develop new supporters. This tour was the culmination of the Ailey Project UK which was established in 2021 to support black led youth or8anisations to target and develop young black dancerslsee below). sao Paulo Dance Company- Brazil'5 finest company with their first vlslt to the UK and Ireland. Fusing the elegance of classical ballet with the sensuality of Latin American dance, this 'sleek, sexy and highly technical, {The New Yorker) company of virtuoso dancers presented a rich programme of work from three choreographers rooted in Latin American or Spanish culture. Detailed information about the companies. programmes, photographs, videos, critic and audience reviews are available at and a selertion include below. IA fti Furthermore. tour reports were created bythe Dance Consortium team across all aspects of the tours, including d8t8 to support ongoing evaluation. A new evaluation frameworkwith Culture Counts, 8 resource provided as a National Portfolio Organisation of Arts Council England. has been developed to monitor progress and outcomes over the next 5 years. These support artistic decisions and the development of new projects and programmes across alltours, learning and Page 7 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 engagement activities, talents development programmes and the networking and developmental projects Dance Consortium hosts for members. This enables the board and members to understand the impact of Dance Consortium's work and provide benchmarks for future audlence development, sector development and engagement programmes/projects. PUBLIC BENEFIT The Trustees, as required charity law, have paid due regard to the Charity Commission's guidance on providing public benefit while reviewing the Charity's aims and objectives, and while deciding what activities the Charity should undertake. Ailey 2 supported venues that were continuing to bring audiences back post pandemic, as the junlor company had a particular appeal to younger and more diverse audiences. The tour followed the main company, Alvin Ailey American Dance Theater, performing at Edinburgh International Festival and sadler's Wells, London. The tour opened at the Marlowe Theatre, Canterbury and then visited a further 11 venues over 6 weeks for a total of 23 performances. The theatres reported first-time attenders to dance averaging 26% (with some as hi8h as 51%} and first time attenders to the venue itself averaging 45% lup from 25% for the compan¢s previous visit in 2011), demonstrating the strong ability to bring new audiences to the member theatres. Overall, the tour reached 12,075 people, 13% of which identified a5 global majority and a further 13% as D/deaf and/or disabled, retaining the levels from the previous 2023 Dance Consortium tour of Dada Masilo. sao Paulo Dance Company has been a lonE-anticipated tour. Members first saw the company back in 2018 and the tour was originally booked for autumn 2020 but postponed due to the global pandemic. This was the largest Dance Consortium Tour to date, with 14 venues presenting 28 shows across a 7- week period. Sales and audiences exceeded all targets with 24,158 people attending and an average capacity of 58%. An average of 42% said that this was their first time to a dance show and 25% were new to the venue. Satisfartion rates reached 87%, far exceeding our target of 80%. 6% of audiences identified as global majority, which was lower than previously reported, but 8% 'preferred not to sa (the highest since evaluating in this way). A further 9% reported bein8 Dldeaf or disabled and 7% reported that they were neurodivergent. In total, across 2023124 Dance Consortium presented 51 performances that reached 36,233 people, which is slightly lower than 2022123 of 40,351 (although this included a 2-week run of Les Ballets Trockadero de Monte Carlo at The Peacock Theatre in London). Figures are up from 31,833 in 2021122, demonstrating a continuing return of audiences. Therefore, the average number of attenders per performance increased from 649 per show in 2022/23 to 694 per show which was greatly supported by the strong Sao Paulo Dance Company figures which averaged at 863 per show and are the highest average audience figures since Acosta Danza in 2020 which was cancelled due to the global pandemic. Overall this demonstrates that programming decisions were strong and appropriate and continued to support returning audiences. A full breakdown as follows: Company Dates No. of Venues Performances Total Attenders Average capacity sold Page 8 Dance Consortium Limited TRUSTEES. REPORT for the year ended 31 March 2024 Ailey 2 19 September- 28 October 2023 5 February-23 March 2024 12 23 12,075 Sao Paulo Dance Company 14 28 24,158 58% Leorning ond Engagement In addition to the tours, Dance Consortiurn continued to run a Learning and Participation programme, which included post-show discussions, open rehearsals, and workshops. These proved to be popular with both the member venues and audiences. For Ailey 2, 2107 people were engaged across 40 different events. This included 336 workshop participants, 442 attendees at open rehearsals, 20 participants in a special curtain raiser project, and 1,309 attendees at post-performance Q&A5. The learning programme, designed with multiple aims, achieved its objertives effectively. As with previous tours events were offered at no fee for venues which creates an attractive offer for tour venues. Birmingham Hippodrome financially c. The programme then ran from February to June 2024 startin8 off with a introduction at Sadlers Wells, London on Saturday 10 February as part of the opening of the Sao Paulo Dance Company Tour. The programme then included in person and virtual events at UK regional theatres including Plymouth Theatre Royal, The Lowry Salford and Newcastle Theatre Royal, whereby the young people were able to meet theatre personnel and experience 'life on tour, with Dance Consortium's expert team and an international dance company- sao Paulo Dance Company. There also accessed a skills bootcamps led by industry experts and have received peer mentorin& alongside a personalised plan to support their next steps. At least half of the places were offered to people from underrepresented backgrounds who may have experienced barriers becoming part of the UK'S theatre workforce. "All the Dcstoff were reolly supportive and generou5 Wlth their time and I gained a lot of insightsfrom our conversations". "I really loved oll the venue visits as they were unique opportunitie5 that I probably wouldn't hove experienced othenvise and o great insight into how profe55ionol venue5 and companies operote.- "Really eye opening and offering a view of the dance worldfrom a different perspertive tht7t has shaped my under5tonding how things work ond the variety of role5 included". he programme helped expand my ronge of possibilities, ollowed to meet other like-minded people and create a reachable network olsupport.- Page Jl Dance Consortium Limited TRUSTEES. REPORT for the ear ended 31 March 2024 Ailey Projert UK One of Dance Consortium's most frequent visitors has been the world-famous Alvin Ailey American Dance Theater IAAADT). which has toured four times through Dance Consortium over the past 20 years and been seen by over lo0,0￿ people, receiving outstanding reviews each time. Given the reputation of the company as one of the world's leading Black Dance companies and the impact of their work on diverse UK audiences, Dance Consortium extended and deepened our relationship with the company over a 3-year period 2021-2023. The aim of this partnership was to create a varied programme of high-quality work that supports the development of the UK'S Black Dance sector and from which an expanded engagement programme could be built on with new companies that will tour with Dance Consortium over the next few year5. Plans for the 2023/24 programme were informed by the previous consultation and knowledge gathering exercises by the Programme Coordinator and Executive Director. In addition to reading evaluation and feedback from previous work with Ailey. during the period June- November 2022 we continued to speak with Dance Consortium members, AAADT, Ailey Extension, local dance agencies and Black-led Dance Companies across the UK, to inform the ongoing evaluation and development of the programme throughout the project. In 2023, Dance Consortium ran a l-day masterclass and then the second in-person Ailey Projert UK Summer Intensive, both in partnership with Newcastle Theatre Royal. The masterclass engaged 22 local dancers from Gateway Studios and Northern School of Contemporary Dance. The 4-day Summer Intensive programme engaged 21 pre-professional dancers. As well as local dancers, young people were recruited from around the UK including through partnerships with ACE Dance & Music, RJC Youth and Artistry Dance. The programme was led by former Ailey dancer Marcus J Willis and Director of the Ailey School, Tracy Inman, accompanied by a live musician. The dancers received morning ballet and Horton technique classes and went onto learn Ailey repertoire, completing the week with a 'mock' audition for the New York Summer School. Following this audition, 2 of the young dancer5 were offered places on the 2024 surnmer programme in New York City. Autumn 2023 saw the culmination of the Ailey Projert UK with a special curtain raiser project delivered in partnership with Birmingham Hippodrome, which debuted as part of the Ailey 2 th performance on 4 October 2023. This captivating short performance opened the evenin& showcasing the incredible skills of 20 young dancers aged 14-21 from the West Midlands. Choreographed by Ailey alumnus Marcus J Willis, the project highlighted emerging UK dance talent and provided a significant platform for these young artists. Following auditions and six rehearsals, memorable moment was 5harin8 their dance with Ailey 2's Artistic Director, Francesca Harper, making it a truly unforgettable celebration of creativity and dedication. The curtain raiser performance marked the culmination of this remarkable two and a half year journey, celebratin8 the profound influence of the Alvin Ailey American Dance Theater. Dance Consortium has Successfully fostered connections between its 19 membervenues and local, Black-led dance groups through masterclasses, summer intensives and captivatin8 performances, contributing to the growth of the Black Dance sector. Overall. 213 engaged in the Ailey Projett UK and it has demonstrated that Dance Consortium. through is model of partnership working, can contribute to dance talent development and increase awareness of career pathways for young people. Although open to all, the programme specifically targeted young black dancers, who historically may not have had access to these projects in the past. Through thi5 programme Dance Consortium has been able to Page 12 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 test a model of engagement that has been refined and developed throughout 2023124 as with a new extended engagement programme planned as part of the 2023-28 Strategic Plan. Access Dance Consortium Limited aims to overcome and reduce barriers to access through a range of communication means and engagement projects. The website includes images, interviews, film clips and audience reviews to provide insights through different media. The extensive Learning and Engagement programme and after-performance talks aim to build connections between artists and audiences and Dance Consortium has been working with members to develop accessible performance options for future tours. Following an Access Audlt in November 2022, which gathered data from across the membership, members reasserted their commitment to building and developin8 new audiences and ensuring that Dance Consortium tours and projects have inclusivity at their heart with an aim to help reduce barriers of engagement. Sur￿eY data from 12 Dance Consortium members167% response rate wa5 recorded) offered a valuable snapshot of acce55 provision. It revealed some excellent examples of good practice, a wide range of assisted performances on offer and an appetite to do more to welcome disabled people into the venues. In 2023124, Dance Consortium worked with members to target those who face barrlers to access to engage in the either performances or the wider engagement activities. Examples include, as part of the Ailey 2 Tour, working closely with two venues who reached out to young unaccompanied asylum seekers. These sessions facilitated cultural exchange through dance, allowing the participants to share their own cultural dances with Ailey 2 performers. These workshops, praised as tour highlights by the Ailey 2 dancers, were meticulously planned with venues and community partners to ensure inclusivity and a nurturing environment. Another example fTom the sao Paulo Dance Company Tour was engagement with speclfic community- based dance groups such as Brighton's Three Score Dance160+ dance group), which supports isolated older people, and Norwich Theatre Royal's Boys Movement Company111-17 years). The workshop leader in Norwich stated that Yhis particular group of boys have challenges in certoin aspects of thelr lives. The workshop WGS inspirationalfor them. filled them with confidence and gove them on opportunity they would never have otherwise experienced. The company were hugely generous and worm." From 2024 onwards, Dance Consortium will launch a bespoke Access Support package whereby member venue5 can draw on costs to support their specific access needs. This recognises that venues are on different journeys with regards to providing accessible ways to reach new and existing audiences. Money could be used to support audio description. provision of touch tours. BLS interpreters for post-show disCU55ions or other initiatives the venue runs or wants to test. There is a continued appetite to enhance provision and the quality of experience for disabled patrons. Dance Consortium's operating model is well placed to support learning and service development across the network through existing forums - Members Meetings, L&P network meetings and Technical Director meettn85- and ontroff roundtable meetings where possible as part of Investment Principles Ilnclu5ivity & Relevance) oversight groups. Dance Consortium has signed up to be part of Arts Council England's 'AII In, initiative, the new access scheme for D/deaf. disabled and neurodivergent people aiming to improve accessibility in the creative and cultural sector. Page 13 Dance Consortium Limited TRUSTEES, REPORT for the ear ended 31 March 2024 SELECTED REVIEWS AND QUOTES Ailey 2 The Stage, 4-star revlew by Nicola Rayner, 20 September- "The evening closes with Revelations, the Ailey signature piece and the founderfs tribute to African-American cultural heritage. The work has been seen by more than 23 million people Since 1960, but it has105t none of its power.. It s a joyous conclusion to o wonderful evening of dance." Medium, review by Susan Tailbyp 23 September- "It was tremendous ond I wa5 glad to lead o Standing ovotion for them...Go and see an Ailey if they come neor you - even if you don't like dance - they will chonge your mindl" The Arts Desk, 4-star review by Jenny Gilbert, 27 September- "Donce lovers with no occess to o mojor city couldfeel genuinely hord done by were it notfor Donce Consortium. This sointed orgonisation works to bring o componyfrom overseas eoch outumn to a dozen or so lorge-5cale theotres acr055 the UK ond Irelonrf, Seeing Dance, revlew by David Mead, S October- "And whot a show the young cost put on...it W05 0 fine evening. Ailey 2. Catch them if you can." Bachtrack, 4-Star review from Graham Watt5, 11 October- "Most importontly, the young people all around me clearly loved the whole show and their excitement augurs wellfor the future of dL7nce...and for this we must commend Dance Consortium for reoching the parts of the country, and the hearts of dance lover5, that are othe￿ise often overlooked." Sao Paulo Donce Compony The Arts Revlew, 5•Star revlew, 6 February (from Dublln) - -to watch sao Poulo Dance Company 15 to be a privileged witness to something of life'5 beauty and mystery. Not to be missed." Bachtrack, 5-star revlew, 12 February- "The sao Paulo Donce Compony hove performed at London s Sodlerfs Wellsfor thefirst time in their 16-yeor history in o sizzling, hot triple bill. Let's get straight to the point.. they ore beGUtiful, chorismotic ond dance with verve ond tenacity. i'm not sure if it was the rippling torsos, the sedurtive hips, the high octone energy levels or the Sheer brilliance of their technique. but thefir5t night oudience, myself included, wos instantly smitten...If you're in need of some joy and exhilaration, the Sao Paulo Dance Company offer5 the perfect solution." Dally Telegraph, tystar review. 10 February- Yhis is dancing thatfires you up.. red-hot entertainmen The Guardlan, 3-stsr review, 11 February- -a triple bill that give5 Us quality acr055 the board. Everything's well executed, beautifully lit, the dancing's technical and athletic- Gramllano, 10 February- "tThe dancersl are beautifvlly troined, nimble, fluent, musical. rhythmically olert dexterous confident Gnd highly wotchable. They look tremendous, but best of all 15 thefoct that the company rejlerts the Latin Americon societyfrom which it originates...anyone wishing to experience some great doncing should book their tickets now." Page 14 Dance Consortium Limited TRUSTEES, REPORT for the year ended 31 March 2024 Brltlsh Theatre Guide. 10 February- Yhe drnma and the tmnscending vision of dance. performed by fabulous young bodies with energy to spare. is a joy. That is enough. explt7notion unnece55ary...Sao Poulo Donce Compony leaves on imprint in more woys thon one." Séelng Dance, review. 11 February- Yhe companJ4s 22 dancer5 ore technically superb in choreography thot brings a Latin edge to ballet and contemporary donce- The fimes. 3-Star revlew, 12 February- "Agora...celebrotes the vitolity and rhythmic verve of the Brazilian dance scene. The Brozilian doncemoker Cossi Abranches (responsiblefor one third of Birmingham Royol Ballet'5 recent Black 5obbath bolletj created the piecefor a dozen dancers and lrfs certainly the most energetic and propulsive of the evening. With its sexy hip5 0ndforcefulAf Brazilian percu55ive 5core...iYs easy to see why it was the audiencefavourite.- Broadway World. 3-rtar revlew. 12 February "Agora allows for an opportunity to contemplate Brazilian culture, in relation to movement, muslc, vlbe and embodiment.. 15aw easy win& syncopated footwork, Capoeira-style a8ili FINANCIAL REVIEW A deficlt of £153,235 has been incurred on unrestrlcted funds. The level of deficit at the end of the financial year 2023/24 is exceptional as reserves had been built up over the previous pandemic years due to the closure of the theatres and lack of activity during the pandemic where the organisation accrued income without spending. The trustees had planned for the previous surplus to be allocated to future tours and contingen￿. The Charity was awarded £107,524 in August 2023 from Arts Council England which were used as restricted funds for the Transform programme. GOING CONCERN The flnanclal statements have been prepared on a goin8 concem basis. The chariVs future existence Is dependent upon the financial success of future productions and on the continued support of Arts Council of England, which has confirmed its support for the period to 31 March 2026 (with an extension granted until March 2027, pending a simplified application process in autumn 2024). The trustees have undertaken an assessment of the going concern of the charity. This assessment considered, for a period of twelve months from the date of approval of the financial statements, the likely trading conditions, alon85ide stakeholder support. fundraising and expected consumer appetite. Following consideration of the likely tradin8 conditions and a number of different scenarios, the trustee5 have concluded that the charity remains a going concern, and it is therefore appropriate to prepare the financial statements on a going concern basis. PLAN5 FOR FUTURE PERIODS Tours planned for 2024 onwards include newtours from Qudus Onikeku &The QDance Company from Lagos, Nigeria and Eun-me Ahn Dance Companyfrom South Korea. both companies that have never toured the UK before and are newto Dance Consortium. Beyond this planning is well underwayfor tours in 2025 including by Ballet BC from Vencouver, Canada and Cirque Eloize. also form Canada. This makes for three smallertours in 2025, giving members a wider range of product. Companieslartists currently under discussion beyond this include Michael Keegan- Dolan from Ireland, Goteborgsoperans Danskompani from Sweden and a return visitfrom Les Page 15 Dance Consortium Limited TRUSTEES. REPORT for the year ended 31 March 2024 Ballets Trockadero de Monte Carlo, reflecting a diverse range of companies and artists to support Dance Consortiums Touring and Audience Strategy. Dance Consortium plans its tours over a 34 year cycle in line with funding from Arts Council England. It seeks to balance a diverse programme of popular and adventurous work that builds audiences, retains established dance supporters/p8trons and increases the depth and appreciation and engagement. Arts Council funding is confirmed up until 31 March 2026, with additional funding secured to implement a Change Programme as part of Transform funding. This includes developing new business models, increasing stakeholder engagement and building more diverse income streams. RESERVES POLICY Dance Consortium Limited has agreed a reserves policy to ensure it is able to cover outstanding costs of tours and other contracts in the event of exceptional circumstances such as the Ioss of Arts Council England fundin& and/or to cover any nece553ry costs associated with the orderly wind-up of the company, Reserves required for this purpose was previously set as £75,000. This was reviewed in 2021 and due to the increased costs of tourin8 and operations of Dance Con50rtium Limited, this has been Increased to a target of £150,000 bythe end of the 2023-26 funding period. The remaining unrestricted funds of £390.160 will enable the planned use of current Arts Council England funding for Dance Consortium Limited's ongoing programme of touring. INVESTMENT POLICY The funds available forthe Charity to invest depend on the timing of funding and of tour fees and other expenditure. Theatre fees are requested as the tour proceeds to the individual venue. To retain flexibility and availability of these funds, the Charity uses a current account and a higher rate call account, taking account of higher interest rates where possible. FIXED ASSETS There are no fixed assets. TRUSTEE LIABILITY INSURANCE Trustee Liability Insurance wa5 reviewed and considered by the Board In June 2022. It was agreed that this should be In place and has been taken out in July 2023 with £l,OCX),000 liability in place. TAXATION STATUS The company, which is a registered charity, is entitled to the exemptions afforded by Part xi, cfA 2010 and S256 TCGA 1992, and so is exempt from taxation on its charitable activities. 5fATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor 15 unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken Page 16 Dance Consortium Limited TRUSTEES. REPORT for the year ended 31 March 2024 as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor. This report has been prepared in accordance with the provisions applicable to companie5 entitled to the small compan*s exemption. Onbe of the boa n Crocker Dated:..... Page17 Dance Consortium Limited STATEMENT OF TRUSTEES. REPSONSIBILITrrES for the ear ended 31 March 2024 The trustees. who are also the directors of Dance Consortium Limited for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting standards {United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparin8 these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistentlv: - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguardin8 the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 18 Dance Consortium Limited FNDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANCE CONSORTIUM LIMITED for.the year ended 31 March 2024 Oplnlon We have auditedthe financlalst8tements of Dance Consortium Limited (the'charitable compan￿) for the year ended 31 st M8rch 2024 which comprise the Statement of Financial Activities. th8 B8Lanc8 Sheèt, the Statement of Cash Flow8. and th6 Notes to the Financi8lSt8t8ment8, including a summary of signrflcant accounting polici08. The financial reporting frarnework that h88 bean 8pplied intheir pieparation isappitcable lawand Unlted KingdomAccountingStandards, including Flnancial Reportlng Standard 102 Ihe Financial R8POrtlng Standard 8ppllcab18 in tha UK and Republic of Ireland" (United Kingdom GenerallyAccepted Accountlng PractiGe). In our opinion. th8fln8ncl8lstatements: give a true and fair view of the state of the eharltable compan￿8 affalrs 86 at 318t March 2024 and of its incoming resourG05 and applic8tlon of resourc88. IncLudlng tts Income and expendlture. for th6 yearthen ended: h8ve been properly prepared In accordance wfth Unlted Klngdom Generally Accepted Accountlng Practice: and have been prepared In accordance with the requirements of the Companie8 Act 2006. Ba818 for opinion W8 conducted our audlt In 8ccordance with International Standards on Auditing (UK) (ISAS (UK)) and appucable law. Our responsibilitie8 under those st8nd8r(Is are further described in th8 Audltor's re8ponslbilltie8 for the audit of the financial statements Bection of our report. We are independenl of the ch8rftable company In accordance with the ethical requifement8 that are relevent to our audit of the financial statements In the UK, Including the FRC'8 Ethical Standard. and we have fulfilled our other ethic81 responsibllitles in 8ccord8n¢e wlth these requirements. We believe that the audtt evidence w8 have obtsined is Suth'cient and appropriate to provide a ba818 tor our opinion. Concluslon8 rolatlng to golng eoncam In auditingthe fin8nci818tatement8. we have concluded thetthe trust888' use ofthe going concem basls of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identlfied any material uncertaintie8 relatlng to 8vents or conditions that, individually or collectlvely, may cast significant doubt on the entitys 8blllty to continue as a golng conc8rn for 8 period of atleast twelvo months from when the financial statements are suthorisod tor Issue. Our rèsponsibilities and the re8ponsibiiities of the trustees with r8sp8ct to going con¢8rn are described in the relevart 8ections of this report. Oiher Informatlon The other information comprls88 the Inft>rmation included in the annual report other then the fin8ncl8l st8tements and our auditor's report th8reon. The truste8s ale responsible for the other inform8tion contsined within the annu3( report. Ouropinlon on the financial ststements does not cover the other information and. except to the extent otherwise explicitty stated In our report, we do not expre$$ any torm of as$urance conclusion thereon. Our responsibility is to read the other infoTmation and. in doing so. consid8r whether the other infoimation is m8terially inconsistent with the financial statements or our knowledge obtsined in Page 19 Dance Consortium Limited INDEPEND￿ AUDITOR'S REPORT TO THE MEMBERS OF DANCE CONSORTIUM LIMITED for the year ended 31 March 2024 thecourse oftheauditorotherniiseappearsto be materiallymisstated. If we identifysuch material incon3i8tencles or 8pparent material misstatements, we are required to determine whether this givea rise to a materiel mlsstatom6nt in thefinanciel 8tstemonts themsalves. If, b88ed on the work we have performed. we conclude that there is 8 material mi8St8tement of this other information, Vla 8re r8quired to r8POrt that fact. We have nothingto report in this r8g8rd. OplnionB on other matt•r8 pre¥crfbed by the Companlos Acl 2006 In our opinion. based on the work undertak8n in tho cour80 Otthe 8udlt: the Informatlon glven In the Tru8tees' Report. whlch Includes the DlreGtors' Report pr8P8red for comp8ny law purpos8s, for the fin8ncial year for which the financial 8t8tement3 are prep8red is consi8tent.wlth the financial statements: and the Director8, Report included within the Trustees. Report ha¥ been prepared in accordance with applicable legol requirements. Mattorn on whlch wo are roquIr￿ to r•port by •xc•ptlon In the light of the knowledge and understanding of the charitable company and Its environment obtsined in the course of the 8udlt, we have not idèntiflad materlal ml88tat8ments in the Diroctor8' Report Included wlthln the Trustees, Report. We have nothing to report In respect of the followlng matters in relation to which the Companies Act2006 requlres usto reporttoyou If, in ouropinion: adequate 8c¢ountlng record8 have not been kept, or returns adequate for our audit have not been recetved trom br8nch88 not vlsited by us: or the flnancial Statements are not in agreement with the accounting records and returns: or certain disclosureg of trustees. remuneration speeified by low 8r8 not made: or we h8ve not received alllt e Informatlon and explangtlons we requlre for our audlt: or the truste8s were not entitled to prepare the financi81 stalements In £ccord8nce wlth the small companies, r8gime and take advantage of the small comp8nies' exemption8 in preparing the Directors. Report and from the requlrement to prepare a Strategic Report. Aesponslblutles of trustao$ As explained mure fully in the Statement of Tnjstees. Responsibilities set out on p8ge 15. the trustees (who are also the directors of the charitsble company for the purposgs of company law) 8re responsible forthe preparation of thefinancial siatements and for belng satisfied that theygive etrue andfairvlew, and for8uch Inlernalcontrola8thetrustee3 determine is necessary to enable the prep8r8tlon ol flnanciel statements that are free from m8teri8l misstatement, whether due to fraud orerror. In preparing the flnanclel ststements. the trustee8 are re8tM>nsibie for assessing the charitable company's ability to continue as 8 going concern, disclosin& as appliceble, matters related to going concern and using the going concern basis of accounting unless the trustèès èither intend to liquidate the charitable company OT to cease operations, or have no realistlc 8ltemative but to doso. Page 20 Dance Consortium Limited li INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANCE CONSORTIUM LIMITED for the year ended 31 March 2024 Audltor'8 responslbllltie3 for the audlt of the financlal statements Our objectives are to obtsln reasonable assurance about whether the financial 8tstementS as a whole are free from material mlsstatement. whetherdue tofraud or error. and to issue an audltor'8 report that includes our opinion. Reasonable assurance is a high levèl of 89surance but is not 8 guarantee that an audit conducted in accordanee wlth IS48 {UK) will always detect a material mi3ststement when it exists. Mi88t8tements can arise from fraud or error and are considered m8terl81 if. Individually or In the a8gfegate. they could re890n8bly be èxpected to influenc8 the economlc decisions of users taken on the basls of these tlnancial ststements. The extent to which our procedure8 are capable of detecting Irregularlties, including fraud Is detalled below. Irregut8rltles are In8t8nces of non-comptlance wlth taws 8nd re8u18tlons. The obJectlve8 of our audit ere to oblain sufficlent approprlate audlt emdence Tegarding compliance with law8 and regulation8 that hove a direct effect on the determination of materlal amounts and di¥ciosures in the flnanci81 8tatement8. to perform audlt procedures to help Identlty Inst8nces of non. compliance with other laws and regulations that may have a materlal effect on the fin8nclal Statements, and to respond approprlately to identified or suspected non-compilance wlth laws and re8uLatlons identified duringthe audit. It 18 the prlmary re8ponslbility of management, wlth the oversight of those charged wlth govern8nce. to en3ure th8t the 8nt5tYs operations are conducled in eccordence viith the pro¥ll8ion8 of law8 and regulations and forthe preventlon and detection of fraud, ,In relation to fraud, the obJ8ctN88 of our audlt are to Identify and asse88 the ri8k8 of material ml88tstement of thè financlal st8t8m8nts. whetherdue tofraud or error and to design and perform audit procedures responsive to those risks. We are requir8d to obtain 8udlt evldence that 18 8ufficient and appropriate In relatlon to the assessed rl8k$ of mater181 mlsst8tem8nt due to fr8ud. We are required to respond appropriately to fraud or suspected fraud identified during the audlt. We ¢onslder the Ilkellhood ot detectlon based on our planned audft 8pproach. Thlsls affected by the Inherent difficulty in detecting irregul8riti8S, the effectiveness of the entiVB controls. and the nature, tlming and extent of the audit procedures performed. Irregularities that result from fraud rnight be Inherently more difficult to detect th8n irregularities that result from error. In Identitying end 888essing risks of m8terfal misstatement in ffjspect of Irreguiaritles. including fraud. we: obt8in8d an understanding of th8 n8ture of the sector. including the legal and regulatory fr8mework that the chartt8ble company operates In and how the ch8rit8bLe company Is complying wfth the18gal and regulatoryfr8mework', inquired of management. and those charged ￿th governance, about thelr own idenlification and 8sses8ment of the ri8k$ of irregularities, including any known actual, su8pected. oraiieged instances of fraud: discussed matters about non-¢ompllance with18w3 and regui8tion8 and how fraud might occur including ass833ment of how an(J where the financial statements may be susceptible to froud. Poge 21 Dance Consortium Limited INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DANCE CONSORTIUM LIMITED for the ear cndcd 31 March 2024 As a result of these procedures, we conslderthe most signttl¢ant18ws and regulations th8t have a dlrect impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006. Charities Act2011. the charitabl8 companvs goveming document, and relevant tax legisiatloft We p8rform8d 8udit procedur8S to d8t8Ct non-compLi8nce8 which may have a m8t8ri81 imp8Ct on lhèfin8ncialstat8mentswhich included reviewingthefinancialstetement8 includingthèTruste8s' Report, remalnlng alert to new or unusual transactions which may not be in accordance with the governing documents. The audit eng8gement team Identified the risk of management overrfde of controls as the 8r8a wherg the flnan¢i81 st8ternent$ wer9 most 3usceptibl8 to material mi88tatement due to fraud. Audlt proc8dures performed Included butwere not Umited to testing internal controls In relation to authori98tion procedur88, evaiu8ting the business rationale in relation to signific8nt, unusual tr8nsactlons and conBlderatlon of ttan8actlons entered Into.outslde the normal course of buslness. A further descrlptlon of our responslbilitles for the audit of the financlal statement18 lo¢oted on the Flnanci81 Reporting Council's w8bsite at bttpsjlw￿lla&or&r￿Qnslbll1ts.0&. Th18 do8crlptionform8 partof our8uditoi's report. U80 of our roport This report 18 made solely to the charltable companys member8, as a body) in 8ccord8nce wlth Chapter 3 01 Part 16 of the Companie5 Act 2006. Our audit work has been undertaken $0 that we mlght state to th6 charitable ¢omp8ny'8 member8 those matters we are requlred to 8t8te to them in an auditorfs report and for no other purpose. To th8 ful188t extent permitted by18w, we do not accept or assume responsibility to anyone otherthan the charitable company and the charitable company's members as 8 body. for our audit worK for this report, or for the opinions we have lormed. Vanessa Graham (Senlor Statutory Audrtor) For and on behalf of Topaz Solutions Limited Chartered Accountants 5 Giff8rd Court Millbrook Close Northampton NN5 5JF 11" December 2024 Page 22 Dance Consortium Limited STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT for the eaT ended 31 March 2024 Unrestrkted furKb Unrestrl¢ted funds Intom* from: Oonation5 and le8acies Charitable actiwties Investments 551.176 927.687 7,143 498,371 1,072,543 3,159 Totsl Income I,186,￿)5 L574.073 Raisingfunds Charitsble •rtlvMes 5,5CKI IA83.124 1.641,425 Totsl ¢xp•nthure 1.641.415 IA88.624 N•t Incomel{expernlliure) 1152A061 85,449 Other rewnlsed ylnsand105X" Other 8•lns Net mov¢m¢nt In fimds 1153,2351 85,449 Ileconc511allon of fvndk. Fund balances at l April 2023 640,235 554,786 Fund balancesat 31 March 2024 487.1XXI 640,235 The statement of financial activttlés includes all gains and losses reco8nised In the year. All Incorne and expenditure derive from continuing activities Page 23 Dance Consortium Limited BALANCE SHEET for the ear ended 31 March 2024 2024 2023 Current assets Debtor5 13 178,382 170,230 Cash at bank and in hand 469,251 607,820 647.633 778,050 Credftors: amounts fallln8 due withln QM 14 year 1160,633} 1137.8151 Nel current asséts 487,CKTh) 640,235 Net assets exdudlng penslt)n Ilablllty 487.tX)) 640,235 The lunds ofthe charlty Unrestricted f￿d5 487.OC(I 640.235 487.(KQ 640.235 The company is entitled to the exemption from the audit requirernent contained in sectlon 477 of the CompaniesAct 2006, forthe year ended 31 March 2024, althou8h an audit has been carrled out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirernents of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the srnall companies regime. rinancial stateme were approved bythe rustees on 26 September 2024 Scr ker Trustee Company registration number06179223 (England and Wales) Page 24 Dance Consortium Limited STATEMENT OF CASH FLOWS for the ear ended 31 March 2024 Cash 110￿ from operatln8actiwlles Cash lab50rbed byllgenerated from operations 1145.7121 45.264 Investlngartl¥ltles Investment Income received 7,143 3,159 Net cash gener•ted IMM In¥estl 7.143 3,159 Net cash used Inllnandng acthld• NetldKrease)Ilncrease In c•sh and cash equl¥alents {138569) . 48.423 Cash and cash equlvalents at beginnin8ofswr 607,820 559,394 sh 4nd cash equlvalents•t end of 469.251 607.817 Page 25 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 Accounting polldes Charity infomiatlon Dante Consortium Limited is a private company Ilmited by guarantee Intorporated in England and Wales. The registered office is C/0 Birmingham Hippodrome. Hursi Street, Birmingham, 85 4TB. 1.1 Accounting conventlon The financial statements have been prepared in accordance wlth the charity's Igoverning documentl, the Companies Act 2006, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.1 and the ChaTlties SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). (effective l January 20191. The charlty is a Public Benefit Entity as defined by FRS 102. The flnanclal statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Goln8 concern At the time of approving the financial statements, the trustee5 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the 80ing concern basis of accounting in preparing the flnancial statements. 1.3 Charftable fund5 Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific condltions by donors or gfantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statement5. Endowment funds are subject to specific conditions by donors that the capital must bÈ malntained by the charity, 1,4 Incom• Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash dor)ation5 are recognised on reteipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deed5 of covenant is recogni5ed at the time of the donatlon. Income from Grants is recognised when these are receivable. except as follow5: When grantors specify that grants given to the charity must be applied to future accounting periods, the income 15 deferred until those periods When grantors impose conditionswhich haveto be fulfilled beforethe charity becomes entitled to use such income, the income is deferred until the pre-conditions for use have been met. Page 26 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the ear ended 31 March 2024 Accountin8 poliaes {Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each artivity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that actlvlty- Shared costs which contribute to more than one activity and 5UPPOrt cost5 which are not attributable to a single activlty are apportioned between those activities on a basis consistent with the use of resources. Central staff c05t5 are allocated on the basls of time spent, and depreciation charges are allocated on the portion of the assevs use. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquld Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnanclal Irbstruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial In5truments155ues' of FRS 102 to all of its financlal Instruments. Financial Instruments are recognised in the charity's balance Sheet when the charity becomes party to the contractual provisions of the instrumÈnt. Financial assets and liabilities are offset, with the net amounts presented In the financlal statements, when there Is a legally enforceable right to set off the recogni5ed amounts and there is an Intention to settle on a net basis or to realise the asset and settle the Ilabllity simultaneously. Crltlcal ac¢ountlng estlmates and ￿d£efflents In the application of the Chari￿s accounting policies. the trustees are required to make Judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readlly apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting e5timate5 are recogni5ed In the period in which the estimate is revised where the revision affect5 Qnly that period, or in the period of the revlsion and future periods where the revision affects both current and future perlods. Page 27 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the ear ended 31 March 2024 Incomo frorn donallons and legKIos Unrnstrlcted Unrestrlctod funds funds 2023 Donations and gifts $51,176 498,371 Donatlons and glfts Arts Council England National Portolio FurKllng John R Murray Charliable Trust Small donatsons Go and See Arts Coundl Transfom Funding 450,(KJO 20,(K)O 498.371 3,402 76,T14 551.176 498,371 Income from charltabl• actl¥ltl•s Unrestrlct•d Unrn8trlct•d funds funds 2024 2023 Fees from member theatre tours, Fxogrammo & merchandise ir￿Tre 927.687 1,072,543 Income from Invw4tments Unrn8trfctod Unr•¥trictod funds funds 2024 2023 Interest receivable 7.143 3,159 Page 28 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the ear ended 31 March 2024 Expondilur• on charitablo aclivili88 2023 Dlrect costs Char5tsble eX￿ndItUre 1.632.715 1.476,124 Share of SUPFX)rt and g¢)veman¢e o)sts Support 7,000 8,710 1,641.425 1,483,124 Analysis by fvnd Unr8stsicted fijnds 1,641,425 1,483,124 Not movement In fundb 2024 2023 The not movement In funds Is ststed afterchargingl(uedktlrg): AU￿t￿8 rnMUneratl￿ 4,CrtXI 4,OiXI 8 TrustO08 None of the Iruslees (or any persth)s c(mnected wlth Ihem) rerAved any romuneration or benefits from the charity during the year. Employoos The average monthly nufflber ofemployees during Ihe year 2024 2023 Numb•r Numbw The nurnb8r of emFdoyees whose annual remuneration Vfas mre than £60,IXIO is as follows: 2024 Number 2023 Nurnber Executive Director Page 29 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS (CONTINUED for th¢ eat ended 31 March 2024 10 Employment Costs The remuneration of key management personnel was as follows: Wages £62550 Social Security £ 2.662 Pensions £ 1,923 11 Taxatlon The charity is exempt from taxation on its activlties because all its income is applied for charltable purposes. 12 Other lalns and losses Unrestrirted Unrestrlcted funds fund5 2024 2023 Galnsl(losses) upon: Foreign exchange 12,184) 13 Debtors 2024 2023 Amounts falllng due withln one year. Trade debtors 142,382 167,874 2024 Amounts falllng due after more than one year. Prepayments and accrued income 36,(YJO 2,356 Totsl debtors 178,382 170,230 14 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 52,736 88.244 10.372 9,281 39.767 473 2,354 95,221 160,633 137,815 Page 30 Dance Consortium Limited NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 March 2024 15 Unrestrirted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purpose5. April 2023 Incomlng Re%jUr￿ Transfers Galn$ and At 31 Marth losses 2024 Windingdown reserve 75,IXM) 565,235 21,840 (21,840) 96,840 39),160 General funds 1,486,1X)6 11,641,425) 2,184 640,235 1,486,(K)6 11,641.425) 2,184 487,OlXI Prevlous year: Atl April 2022 Incomlng Resouros rex>urce5 expend Trnnsf•rs Galns and At 31 March 2023 Wlndln8 down reserve 75,rxx) 175,IXK)I 75,OiXI 565,235 General funds 554,786 1574,073 11,488.624 554,786 1574,073 11,488,624) 640,235 18 Related party transactlons Dance Consortium Llmlted comprises 19 member theatres and other theatres that take part on an occasional basls. Member theatres and non member theatres are charged fees on the same term5. The company purchases seNices of member theatres on ordinary commercial terms. Durin8 the year member venues were char8ed tour fees and sales of merchandise of £881,553 {2023- £750,CK)O) and membership fees of £34,2￿{2023 - £25.2001. During the year under review purchases of £49,938 (2023- £75,931) were made from member venues. The following Trustees are employees of member theatres: H Costello. 5 Walker, S Crocker and M Locatori. 17 Cash generated from operations 2024 2023 {Deficit)/surpus forthe year Adjustments for: Investment income reco8nised in statement of financial artivities Foreign exchange differences Movements in working capital.. {Increa5el/decrease in debtors Increaselldecrease) in creditors 1155,4191 85,449 {7,143) 2,184 13,159> {8,152) 22.818 32,739 169.765) Cash (absorbed by}18enerated from operations (145.7121 45,264 Page 31