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2021-08-31-accounts

DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

Registered number: 06371136 Registered Charity Number: 1136487

SPRINGS DANCE COMPANY (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Contents

Contents
Page
Company Information 1
Report of the Trustees 2 – 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11 - 12
Notes to the Financial Statements 13 - 21

DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY COMPANY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2021

Company Number 06371136
Charity Number 1136487
Registered Office Whitehill Business Services
Address 3C Hopewell House
Whitehill Lane
Royal Wootton Bassett
SN4 7DB
Independent Paul Newton
Examiner JCS Accountants
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Trustees Mr Toby Beazley Chair
Mr John Chamberlain resigned 27thSeptember 2021
Ms Deborah Cruz-Dunn
Ms Debbie Lee-Anthony resigned 27thSeptember 2021
Mrs Kerry Salisbury
Mrs Emma Göttke appointed 24thJune 2021
Secretary Mrs Eliza Reger
Bankers The Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT
Patrons Aelred Arnesen MA
Jeremy Begbie BD, Ph.D, FRSCM
David Bintley CBE
Steve Chalke MBE
John Drane MA, PhD
Roger Forster
Faith Forster
Candida Hadler AISTD
Pam Howard MBE
Rt Revd Dr Michael Nazir-Ali
Robert Penman FRSA
Peter Spencer
Judith Stevenson MA
Geoffrey Stevenson PhD

Page 1

DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Directors' Report

The Trustees who are also directors of Springs Dance Company for the purposes of the Companies Act 2006, present their report and the financial statements for the year ended 31 August 2021.

Reference & Administrative Details

Trustees

The trustees, who are also directors of the Charitable Company, who served during the year were:

Mr Toby Beazley (Chair) Mr John Chamberlain (resigned 27[th] September 2021) Ms Deborah Cruz-Dunn Ms Debbie Lee-Anthony (resigned 27[th] September 2021) Mrs Kerry Salisbury Mrs Emma Göttke (appointed 24[th] June 2021) Staff and Volunteers Ruth Hughes Artistic Director Eliza Reger Company Manager Rebekah Gill Finance Manager Rebecca Bertram Tour Booker Naomi Cook Assistant Director Zoë Tsim Education Officer (Maternity Cover) Anna Shadbolt Safeguarding Officer Jonathan Richardson Data Protection Officer

A number of other professionals were also engaged to dance, choreograph, teach, rehearse and publicise on behalf of the Company.

Structure, Governance & Management

Governing Document

The charity is controlled by its governing documents, memorandum and articles of association dated 13 May 2010 and the charity is constituted as a Company limited by guarantee, as defined by the Companies Act 2006.

Recruitment and Appointment of New Trustees

The Company is a registered charity with the Charities Commission of England and Wales. The Company is overseen by a Board of Trustees which currently consists of five members. Trustees must be over the age of 18 and can only be appointed with the approval of the other Trustees. The Trustees may jointly appoint any person who is willing to act to be a Trustee whether to fill a vacancy or as an additional Trustee. There is currently no maximum number of Trustees specified by the memorandum and articles of association.

Risk Management

The Trustees have examined the major risks to which the Company is exposed and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.

Since March 2020, the Covid-19 pandemic has brought unexpected challenges to the Company. Staff have worked to identify and manage risks to services and funding. Through this hard work and dedication, some activities have continued in a modified manner and additional funding has been raised to support new activities which meet the charity's objectives. Although the general outlook remains uncertain, trustees consider that the Company is well placed to continue as a going concern.

Page 2

DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Objectives and Aims

The charitable objectives of the Company are:

These charitable objectives continue to be in line with the aims of the Company:

Achievement and Performance

Charitable Activities

We are a vibrant contemporary dance organisation bringing creative and engaging dance to a diverse range of venues and communities. Founded over 40 years ago, we are one of the oldest dance companies in the UK.

We are a unique company working with theatres, schools and church communities. We create, we perform, we teach and we discuss.

We are committed to making excellent dance that is relevant and life enhancing for everyone. Our work has a voice, telling inspiring and challenging stories through dance and theatre. We nurture and connect people and communities, and we encourage those of all ages to enjoy dance.

Statistics

Due to the Covid-19 pandemic, most live performances and workshops were cancelled or postponed this financial year, meaning that our reach was much smaller than we would usually expect. However, by delivering more live content online, we were able to benefit audiences, contributors and participants from across the world, including from the UK, Belgium, Finland, Australia, US, Cambodia, Germany, Norway, Sweden, The Netherlands, Switzerland and Singapore.

This financial year, our professional company delivered 18 performances, reaching an audience of 490 people (415 through our performances in schools and 75 through attending online live performances). Our education programme reached 2,163 participants, which included teaching 29 workshop days in schools.

New to this year was the launch of our online events “Nourish” and “Nourish 2021”, which together delivered 91 online sessions to participants across the globe, with 120 beneficiaries of Nourish and 154 of Nourish 2021.

(I enjoyed) “that you had such a rich program which was suited for both professionals and amateurs. And that the classes were during the whole day which made it easy to go to classes because of time difference and different schedules. That there was a mix of dance classes and talks really covering almost every aspect of being a Christian and a dancer. It was so nice to connect with others likeminded across the globe. The information and communication were very clear and it was organized very well. Participant, Nourish

(I enjoyed) “the large variety of classes, panels, performances and discussion. There was really something for everyone. The organisation behind this is remarkable and I admire all the hard work that has been put in to a conference like this. It was also so nice to feel connected and close to people from all over the world and recognize some familiar faces from last time.” Participant, Nourish 2021

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

In schools, we:

Since Covid-19 restrictions eased in schools, our outstanding team of teachers has delivered our education programme reaching communities across England.

We continue to see a high number of requests from schools to deliver dance projects that both fulfil the RE areas of the national curriculum and go beyond to provide additional opportunities for children and teaching staff.

With support from Childs Charitable Trust, Westhill Endowment and The Joseph Sheldon Trust as well as individual donors, we created a new curriculum-based interactive dance theatre and workshop production, PARABLE, which provides schools with visually exciting and imaginative ways to boost children’s engagement with RE. The project addresses a gap in children’s learning, about the life and teachings of Jesus.

The completed project has been universally well-received and began touring across England following the pilot in the Patmore Estate in Battersea in early June 2021. The project introduced learners to the life and teaching of Jesus, and directly addressed issues of social cohesion through exploring the Parable of the Good Samaritan in depth.

“…they were truly captivated”

Sarah Collymore NLE, Headteacher, St. George's CE Primary School

“The children were all engaged and enjoyed the session. Some children that might find it hard to concentrate during RE lessons were focussed on everything that was going on.” Year 4 teacher St. George's CE Primary School

“The children were engaged and having fun throughout. A really original idea that explained the parables in a really visual way that was easy for children to engage with and understand. The children loved the whole experience. It was very engaging for adults too!”

Teacher at St Chad’s Primary School, Lichfield.

In line with the recovery curriculum, we delivered Back To School Wellbeing Workshops as a response to the call for children’s mental health support following lockdown.

“The Children absolutely loved these sessions. It was great to see some of our less-confident students joining in with such enthusiasm.” Lenia Greenaway Headteacher, St Peter's Infant School

Throughout the year we also delivered our popular Religious Education and Dance workshops and projects including Get Fit Go Green, The Easter Project, The Good Samaritan and The Lost Coin and A Christmas Story: Refugee workshops

“The staff were amazed at the quality of the dance the children produced. During RE lessons, the children had a better understanding of the Easter story, often referring to the dance moves they used.” Melanie Brammer, RE Lead, Buxworth Primary School,

In churches, we:

With the majority of churches buildings across the UK closed due to the pandemic, and with restrictions on travel, our touring work for churches was put on hold, with every expectation that we will continue to serve communities in this way as soon as it is possible to do so.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

From our London home, we:

Due to the remaining uncertainty brought about by the Covid-19 pandemic, we made the decision not to run our Elevate Dance training courses from a London base.

In order to respond to the needs of the dance community, we instead moved our training for young professionals online through our Nourish Dance Intensives.

“As a third year Dance degree student researching into religion and dance, I found the panel discussions particularly useful and Interesting. I've managed to take away valuable information for my research from them.” Participant Nourish 2020

“Thank you! I attended, unsure what it would be like, and found myself delving in and booking more classes as the weekend went on. It brought a deeply refreshing boost to keep dancing, and left me keen to further different avenues that I'd discovered and learnt about over the weekend. It was a truly wholesome weekend from the inside out, and from my head to my toes.” Participant Nourish 2021

In theatres, we:

With the outlook for UK theatres uncertain at the end of the year, we made the decision to pause our touring work for theatres, and instead focus on making performance work for schools where we could reach a wider audience through PARABLE.

Profile Raising and Awareness

Company staff have continued to build the following on social media through Facebook, Twitter and Instagram. As at 31 August 2021, Facebook had a reach of 24,657 and our followers numbered 2,612. Instagram saw an increase to 1,133 followers. Twitter followers numbered 725 and our Elevate Dance Company Facebook page had 268 followers. YouTube continues to be a valuable tool in increasing public awareness of the Company with 1,315 views this year, and we have continued to use Facebook and Instagram advertising to reach a wider audience.

We have continued to develop and strengthen our relationships with various church networks across the UK, including the Church of England Diocesan areas, as well as the Methodist, Baptist and Churches Together Networks. In order to grow our education programme, we have continued to work on building relationships with the Diocesan Education Teams as well as the Arts Council Bridge Organisations.

We have continued to develop our website and database, which have allowed us to reach a much greater audience by increasing our Google search ratings, as well as enabling us to disseminate information and digital mail-outs more efficiently.

Other

In preparing this report the Trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Financial Review

Reserves policy

In reflection of a financial period with a small surplus on the general fund, the Trustees are able to continue to maintain a policy of sustaining free reserves that are no less than three months and no more than five months of operating costs, together with an allocation to cover redundancy payments should the organisation cease to operate. As the company van has now been sold the free reserves also need to cover the cost of purchasing a suitable vehicle for touring productions.

Using this calculation, at 31 August 2021, an appropriate level of free reserves is a minimum of £29,020 and a maximum of £37,390 within which the Company seeks to operate. The level of unrestricted funds at 31 August 2021 was £64,688 and the level of free reserves (excluding tangible fixed assets and designated funds) was £42,539, which exceeds the maximum level. The Trustees are happy to operate at this level temporarily due to the ongoing impact of the Covid-19 pandemic, and the uncertain effects that this will have on the following financial year. The Trustees monitor income and expenditure throughout the period and review the reserves policy annually to ensure that the Company is as effective as possible whilst also mitigating the risk of insolvency or serious disruption to its charitable work.

Financial Performance

The Company has had an unusual financial period due to the Covid-19 pandemic, which has impacted many of the Company’s activities and therefore the related income. However due to several support schemes the Company has ended the year positively with a small surplus on the General Fund before transfers to restricted funds.

The remaining £5,000 from the Arts Council England Emergency Grant in the previous year has been fully recognised in these accounts. This was awarded to cover losses resulting from the Covid-19 pandemic and a small teacher training project. The Company also utilised the Government Covid-19 Job Retention Scheme, by furloughing all eligible staff for some time, leading to a saving of approximately £5,522 on staff costs. The income received has been shown as an unrestricted grant. In addition to these two grants, a reduction in rent was agreed which led to a saving of £7,500.

There was a slight fall of 5% in regular monthly giving during the year, and a significantly lower amount of unrestricted one-off donations, due to the company being unable to tour. The Trustees are confident that the current level of regular giving can be sustained and are monitoring this area to ensure that the level of unrestricted core funds is maintained.

Plans are in place to start working on a new production in January 2022. This will use the designated fund created by the legacy received in the previous year.

Neither Elevate Dance Foundation or Elevate Dance Company were able to run this year. There were a few costs relating to Elevate which have been covered by a transfer from the General Fund.

No further purchases were made from the restricted Technical Equipment Appeal Fund during the year, as the company did not tour. The trustees anticipate that this fund will be fully utilised by the end of the following year.

Additional grants for the production of PARABLE were received, and the entire fund was used in the creation of the new interactive production.

The education programme continued to be severely impacted by the Covid-19 pandemic, resulting in a 21% decrease of income to £9,290 (2020: £11,790). The trustees are confident that this is a temporary reduction, as bookings for the current year are significantly higher.

A new initiative that the Company embarked on due to ongoing restrictions was the Nourish Online Intensive, which took place twice during the year. This was very well received and contributed £9,605 to income.

The Company successfully claimed Theatre Tax Relief relating to the prior period of £2,057. The Company expects to submit a claim of £1,765 for the current year, which has been recognised in these accounts. This relates to the production of PARABLE. The quantum of the claim is expected to vary in future years, dependant on the volume of new performance work being created.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Plans for the future

Plans for our work with schools:

Plans for our work with churches:

Plans for work from our London base:

Plans for our work with Theatres:

Plans for profile raising and awareness:

We also plan:

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Statement of the Board’s Responsibilities

The Trustees, who are also the directors of Springs Dance Company, are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Company and charity law requires directors to prepare financial statements for each financial period. The directors have elected to prepare the financial statements in accordance with applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 SORP). Under Company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the net income or expenditure of the Company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the Board of Trustees on 31 January 2022 and signed on its behalf by:

............................................. Toby Beazley, Chair of Trustees

............................................. Kerry Salisbury, Trustee

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF SPRINGS DANCE COMPANY (THE COMPANY)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021 set out on pages 10 to 21.

Responsibilities and basis of report

As the charity’s trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charites Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).

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 accounts to be reached.

Paul Newton FCA JCS Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW

08 March 2022 Date:

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

Notes
Income from:
Donations and legacies
Grants received
3
Charitable activities
4
Other trading activities
Investments
Total Income
Expenditure on:
Raising funds
Charitable activities
5,6
Total Expenditure
Net (expenditure) / income
before tax
2
Tax receivable
Net income / (expenditure)
for the financial period
Transfers between funds
10
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total funds carried
forward		 2021
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
25,634
-
25,634
8,632
6,420
15,052
22,187
-
22,187
3,523
-
3,523
45
-
45
60,021
6,420
66,441
(1,452)
-
(1,452)
(60,115)
(11,786)
(71,901)
(61,567)
(11,786)
(73,353)
(1,546)
(5,366)
(6,912)
2,141
-
2,141
595
(5,366)
(4,771)
(5,281)
5,281
-
(4,686)
(85)
(4,771)
69,374
745
70,119
64,688
660
65,348		 2020
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
52,723
900
53,623
12,657
4,500
17,157
36,236
37,189
73,425
1,395
-
1,395
13
-
13
103,024
42,589
145,613
(4,337)
-
(4,337)
(60,502)
(44,876)
(105,378)
(64,839)
(44,876)
(109,715)
38,185
(2,287)
35,898
1,681
-
1,681
39,866
(2,287)
37,579
(6,472)
6,472
-
33,394
4,185
37,579
35,980
(3,440)
32,540
69,374
745
70,119

All income and expenditure has arisen from continuing operations.

The Company has no recognised gains or losses other than those shown above.

The notes on pages 13 to 21 form part of these financial statements.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REGISTERED COMPANY NUMBER: 06371136 BALANCE SHEET AS AT 31 AUGUST 2021

Notes
FIXED ASSETS
Tangible Assets
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
Creditors: Amounts Falling
Due Within One Year
9
NET CURRENT ASSETS
NET ASSETS
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
Funds
Restricted
Funds
£
£
2,409
-
2,409
-
9,874
60
62,602
600
72,476
660
(10,197)
-
62,279
660
64,688
660		 2021
Total Funds
£
2,409
2,409
9,934
63,202
73,136
(10,197)
62,939
65,348
64,688
660		 2020
Total Funds
£
7,606
7,606
12,551
63,465
76,016
(13,503)
62,513
70,119
69,374
745
65,348 70,119

For the year ending 31 August 2021, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the Charitable Company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The notes on pages 13 to 21 form part of these financial statements.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY REGISTERED COMPANY NUMBER: 06371136 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2021

The trustees, who are also the directors of the Charitable Company, acknowledge their responsibilities for:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by order of the Board of Trustees on 31 January 2022 and signed on its behalf by:

.............................................

Toby Beazley, Chair of Trustees

.............................................

Kerry Salisbury, Trustee

Registered Company Number: 06371136

The notes on pages 13 to 21 form part of these financial statements.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES

1.1 Statutory information

Springs Dance Company is a private Company, limited by guarantee, incorporated in England & Wales, registration number 06371136. The principal place of business is Ichthus Lee Green, 23 Lampmead Road, London SE12 8QJ.

1.2 Basis of preparation of the financial statements

The individual financial statements of the Company have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in March 2018.

The Charitable Company is a public benefit entity under FRS 102 and therefore the financial statements have also prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 SORP) issued in October 2018 and the Charities Act 2011.

The trustees consider that there are no material uncertainties in relation to the Charitable Company’s ability to continue as a going concern and therefore the Company continues to adopt the going concern basis in preparing its financial statements.

1.3 Cash flow exemption

The Company is exempt from preparing a Statement of Cash Flows under Section 7.1B of FRS 102 in relation to small entities.

1.4 Legal status of the charity

The Charity is a Company limited by guarantee and as such, has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

1.5 Income

All income is recognised in the Statement of Financial Activities once the charity has fulfilled its legal obligations for services provided, it is probable that the income will be received and the amount can be measured reliably.

Income from grants, whether ‘capital’ grants or ‘revenue’ grants, are recognised when the charity has legal entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably and is not deferred to later periods.

Other trading activities is amounts receivable for office services, short term hire of equipment and sale of merchandise and is recognised on the date of hire or sale.

Investment income is interest received on cash at bank and is recognised over the period in which it accrues.

1.6 Expenditure

All expenditure is recognised in the Statement of Financial Activities when there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the same category. Support costs, including payroll costs have been apportioned and allocated to activities based on the most appropriate basis for each category. The apportionment methods used for support costs are disclosed in note 6.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (continued)

1.7 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided so as to allocate the cost of assets, less their estimated residual value, over their expected useful lives on the following bases:

----- Start of picture text -----
Technical Equipment 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
----- End of picture text -----

The assets’ useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains or losses on disposals are determined by comparing the proceeds of the disposal with the carrying amount and are recognised in the Statement of Financial Activities under Income from other trading activities for gains and Expenditure on Charitable activities for losses.

1.8 Debtors

Short term trade and other debtors are recognised at the transaction amount after any trade discounts offered, less any provision for any bad or doubtful debts.

1.9 Cash and cash equivalents

Cash at bank and in hand includes cash and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit account.

1.10 Creditors

Short term creditors are recognised at the transaction amount when the Company has a present obligation resulting from a past event.

1.11 Current and deferred taxation

The Charitable Company is exempt from corporation tax on its charitable activities and therefore does not include a tax expense in its Statement of Financial Activities. The Company therefore is also not required to provide for any deferred taxation liabilities. However, the Charitable Company is eligible to receive a corporation tax credit as a Theatrical Production Company under the provisions of Part 15C Corporation Tax Act 2009 in relation to Theatre Tax Relief.

The Theatre Tax Credit receivable is only recognised in the Statement of Financial Activities when the Charitable Company is virtually certain that the related asset will be received.

1.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments under FRS 102. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Operating leases as a lessee

Amounts paid under operating leases are charged to the Statement of Financial Activities on a straightline basis over the lease term.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES (continued)

1.14 Foreign currency translation

The Company’s functional and presentational currency is GBP.

The Company has not entered into any foreign currency transactions in the current or preceding period and as such do not have any reported foreign currency exchange gains or losses.

1.15 Pensions

The Company operates a defined contribution pension plan for its employees. A defined contribution plan is one in which the Company pays fixed contributions into a separate entity and therefore once the contributions have been paid, the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Financial Activities when they fall due and amounts not paid are included as a liability in the Balance Sheet. The assets of the pension plan are held separately from the Company in an independently administered fund.

1.16 Fund accounting

Unrestricted general funds can be used in accordance with the charitable objectives of the Company at the discretion of the trustees.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Transfers from the unrestricted general funds into restricted funds arise when the trustees designate unrestricted funds to be used for restricted purposes or to satisfy a deficit on a particular restricted fund.

Transfers from a restricted fund into unrestricted funds only arise in order to transfer the value of tangible fixed assets when the asset has been purchased from restricted funds but is held for a general and not a restricted purpose.

2. NET EXPENDITURE / INCOME

The net expenditure / income is stated after charging/(crediting):

2021 2020
£ £
Depreciation of tangible fixed assets 1,356 2,152
Profit on disposal of fixed assets (2,057) -
Independent examiner’s fees 1,176 1,140

3. GOVERNMENT GRANTS

Included in Grants Received is £5,000 (2020: £9,000) of revenue grants received from Arts Council England. £4,000 was an Emergency Funding Grant and £1,000 was in relation to the Teacher Training Day.

Also included in Grants Received is £4,632 (2020: £4,657) of revenue grants received under the Coronavirus Job Retention Scheme.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

4. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES

4.
ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES
Activity
Performances
Workshop
/ Course
Fees
Travel
costs
recharged
£
£
£
Touring
Journey of the Magi
-
-
-
Parable
2,300
-
542
Special events
-
-
-
2,300
-
542
Education
Elevate dance course (restricted)
-
-
-
School workshops
-
9,290
450
Open workshops including Nourish
-
9,605
-
-
18,895
450
TOTAL
2,300
18,895
992

5.
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Activity
Activities
undertaken
directly
Support
Costs (Note
6)
£
£
Touring
Magic Paintbrush (restricted)
-
1,089
Journey of the Magi
1,242
2,649
Parable (including restricted)
10,455
8,049
Special events
-
260
11,697
12,047
Education
Elevate dance course (restricted)
179
1,386
School workshops
7,137
15,947
Summer course
-
-
Open workshops including Nourish
6,460
17,048
13,776
34,381
TOTAL
25,473
46,428		 2021
Total
£
-
2,842
-
2,842
-
9,740
9,605
19,345
22,187
2021
Total
£
1,089
3,891
18,504
260
23,744
1,565
23,084
-
23,508
48,157
71,901		 2020
Total
£
20,557
-
2,181
22,738
37,189
12,909
589
50,687
73,425
2020
Total
£
3,506
34,049
3,415
5,123
46,093
36,905
20,013
1,480
887
59,285
105,378

Included in the direct expenditure for School workshops is £1,116 from the restricted Arts Council England fund (2020: £1,050 in Special events).

Included in the direct expenditure for Parable is £8,016 from the restricted Parable fund (2020: £524).

The Charity did not make any grant payments to fund third parties to undertake work on the Charity’s behalf in either the current or preceding period.

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

6. ANALYSIS OF SUPPORT COSTS INCLUDED IN EXPENDITURE ON CHARITABLE ACTIVITIES

Touring
Support cost
Staff administration costs
Tour Booking
Studio space hire
Equipment storage
Van expenses
Office costs and insurance
Governance costs
TOTAL
Education
Support cost
Staff administration costs
Tour booking
Studio space hire
Equipment storage
Van expenses
Office costs and insurance
Governance costs
TOTAL		 Magic
Paintbrush
(restricted)
Journey of
the Magi
Parable
£
£
£
-
520
2,602
-
1,402
1,992
1,089
-
-
-
727
-
-
-
480
-
-
2,633
-
-
342
1,089
2,649
8,049
Elevate
dance
course
(restricted)
School
workshops
£
£
780
7,806
-
3,985
-
-
606
-
-
1,166
-
2,580
-
410
1,386
15,947		 Parable
£
2,602
1,992
-
-
480
2,633
342
Special
events
£
260
-
-
-
-
-
-
260
Open
workshops
including
Nourish
£
12,751
-
-
-
1,205
2,668
424
17,048		 2021
Total
£
3,382
3,394
1,089
727
480
2,633
342
12,047
2021
Total
£
21,337
3,985
-
606
2,371
5,248
834
34,381		 2020
Total
£
10,599
2,924
1,050
1,663
3,764
1,717
329
8,049 22,046
2020
Total
£
9,156
3,721
8,470
554
-
4,223
811
26,935

Methods used for apportionment of support costs

Support cost

Basis of allocation

Staff administration costs

Estimated time spent per timesheets

Tour booking

Estimated time spent per timesheets

Studio space hire

Number of days used

Equipment storage

Estimated space used

Van expenses Total fee income (2020: Actual mileage) Office, Insurance & Governance Costs Total fee income

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7. TANGIBLE FIXED ASSETS

Technical
Equipment
Motor
Vehicles
Fixtures &
Fittings
Computer
Equipment
£
£
£
£
Cost
As at 1 September 2020
6,099
10,919
1,319
1,375
Additions
-
-
-
-
Disposals
-
(10,919)
(1,319)
(789)
As at 31 August 2021
6,099
-
-
586
Depreciation
As at 1 September 2020
3,008
6,721
1,168
1,209
Charge for the year
774
524
23
35
Disposals
-
(7,245)
(1,191)
(750)
As at 31 August 2021
3,782
-
-
494
Net Book Value
As at 31 August 2021
2,317
-
-
92
As at 31 August 2020
3,091
4,198
151
166
8.
DEBTORS
2021
£
Due within one year
Trade debtors
2,822
Prepayments and accrued income
1,401
Corporation tax receivable
3,822
Other debtors
1,889
9,934

9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade creditors
1,522
Accruals
1,738
Deferred income
3,950
Taxation and social security
2,987
10,197		 Technical
Equipment
Motor
Vehicles
Fixtures &
Fittings
Computer
Equipment
£
£
£
£
6,099
10,919
1,319
1,375
-
-
-
-
-
(10,919)
(1,319)
(789)		 Technical
Equipment
Motor
Vehicles
Fixtures &
Fittings
Computer
Equipment
£
£
£
£
6,099
10,919
1,319
1,375
-
-
-
-
-
(10,919)
(1,319)
(789)		 Total
£
19,712
-
(13,027)
6,685
12,106
1,356
(9,186)
4,276
2,409
7,606
2020
£
400
5,084
1,681
5,386
6,099
-
-
586
3,008
6,721
1,168
1,209
774
524
23
35
-
(7,245)
(1,191)
(750)
3,782
-
-
494
2,317
-
-
92
3,091
4,198
151
166
2021
£
2,822
1,401
3,822
1,889
9,934

2021
£
1,522
1,738
3,950
2,987
10,197
12,551

2020
£
1,141
3,751
8,542
69
13,503

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

10. MOVEMENT IN FUNDS

0. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Elevate dance course
Magic Paintbrush
Technical equipment appeal
Parable
Arts Council England
Total restricted funds
TOTAL FUNDS		 As at 1
September 2020
£
49,374
20,000
69,374
-
-
660
85
-
745
70,119		 Net income /
(expenditure)
£
855
(260)
595
(1,565)
(1,089)
-
(2,596)
(116)
(5,366)
(4,771)		 Transfers
between funds
£
(5,281)
-
(5,281)
1,565
1,089
-
2,511
116
5,281
-		 As at 31
August 2021
£
44,948
19,740
64,688
-
-
660
-
-
660
65,348

A transfer of £139 was made from the General Fund to the Elevate dance course fund to reflect the expenditure covered by the Coronavirus Job Retention Scheme Grant.

All other transfers were made from the General fund to restricted funds which would otherwise have been in deficit.

Net movement in funds included in the above, are as follows:

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Elevate dance course
Magic Paintbrush
Technical equipment appeal
Parable
Arts Council England
Total restricted funds
TOTAL FUNDS		 Income
£
62,162
-
62,162
-
-
-
5,420
1,000
6,420
68,582		 Expenditure
£
(61,307)
(260)
(61,567)
(1,565)
(1,089)
-
(8,016)
(1,116)
(11,786)
(73,353)		 Net income /
(expenditure)
£
855
(260)
595
(1,565)
(1,089)
-
(2,596)
(116)
(5,366)
(4,771)

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

10. MOVEMENT IN FUNDS (continued)

SUMMARY OF MOVEMENT FOR THE PRIOR PERIOD

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Elevate dance course
Magic Paintbrush
Technical equipment appeal
Parable
Arts Council England
Total restricted funds
TOTAL FUNDS		 As at 1
September 2019
£
35,980
-
35,980
(6,259)
-
2,819
-
-		 Net income /
(expenditure)
£
19,866
20,000
39,866
1,184
(3,506)
-
85
(50)		 Transfers
between funds
£
(6,472)
-
(6,472)
5,075
3,506
(2,159)
-
50		 As at 31
August 2020
£
49,374
20,000
69,374
-
-
660
85
-
(3,440)
32,540		 (2,287)
37,579		 6,472
-		 745
70,119

The movement in the technical equipment appeal consists of an allocation of capital expenditure of £2,159 in the year from the General fund. Transfers of £1,438 and £193 were made from the General Fund to the Elevate dance course fund and the Magic Paintbrush fund respectively to reflect the expenditure covered by the Coronavirus Job Retention Scheme Grant.

All other transfers were made from the General fund to restricted funds which would otherwise have been in deficit.

Net movement in funds included in the above, are as follows:

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Elevate dance course
Magic Paintbrush
Technical equipment appeal
Parable
Arts Council England
Total restricted funds
TOTAL FUNDS		 Income
£
84,705
20,000
104,705
38,089
-
-
3,500
1,000
42,589
147,294		 Expenditure
£
(64,839)
-
(64,839)
(36,905)
(3,506)
-
(3,415)
(1,050)
(44,876)
(109,715)		 Net income /
(expenditure)
£
19,866
20,000
39,866
1,184
(3,506)
-
85
(50)
(2,287)
37,579

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DocuSign Envelope ID: AF83336D-025A-4889-846E-BB5B51BD192D

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

10. MOVEMENT IN FUNDS (continued)

Name of fund Description, nature and purpose of the fund

Unrestricted Funds

General Fund All funds which are not designated or restricted Designated Fund: Legacy Legacy received in the year ended 31 August 2020 which has been ring-fenced to create new dance works

Restricted Funds

Elevate dance course To train students in dance Magic Paintbrush To produce and tour the Magic Paintbrush Technical equipment appeal To purchase technical equipment necessary for productions Parable To create a new interactive performance and workshop that reimagines the parables that Jesus told

Arts Council England To carry out research and development and teacher training during lockdown

11. STAFF COSTS

Wages and salaries
Cost of defined contribution pension schemes		 2021
£
24,670
435
25,105		 2020
£
25,581
258
25,839

A total of £4,632 (2020:£4,657) was claimed under the Coronavirus Job Retention Scheme to help fund staff costs.

The employee benefits received by key management personnel were £18,632 (2020:£18,872)

The average number of employees was:

e average number of employees was:
2021 2020
Average monthly part-time employees 3 3
Average number of part-time subcontractors 9 12

12. TRUSTEES’ REMUNERATION AND BENEFITS

No trustees received any remuneration or other benefits for the year (2020: £Nil). No trustees were reimbursed for expenses in the year. Two trustees were reimbursed £83 for travel expenses in the previous year.

Page 21