OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Springs Dance Company

2024-08-31-accounts

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

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 2024

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Contents

Contents
Page
Company Information 1
Report of the Trustees 2 – 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance Sheet 12 - 13
Notes to the Financial Statements 14 - 22

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

COMPANY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024

Company Number 06371136
Charity Number 1136487
Registered Office 4 Cedars Close
Address Occold
Eye
Suffolk
IP23 7PB
Independent Paul Newton
Examiner JCS Accountants Limited
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Trustees Toby Beazley (Resigned 11 November 2024)
Deborah Cruz-Dunn
Kerry Salisbury
Emma Göttke (Resigned 13 May 2024)
Ulrike Pflanz
Paul Clark (Appointed 2 October 2023)
Angus Reger
Secretary Eliza Reger
Bankers The Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT
Patrons Jeremy Begbie BD, Ph.D, FRSCM
David Bintley CBE
Steve Chalke MBE
John Drane MA, PhD
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: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

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 2024.

Reference & Administrative Details

Trustees

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

Toby Beazley (Chair – Resigned 11 November 2024) Deborah Cruz-Dunn Kerry Salisbury Emma Göttke (Resigned 13 May 2024) Ulrike Pflanz Angus Reger Paul Clark (Appointed 2 October 2023)

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 six 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.

The Trustees consider that the Company is well placed to continue as a going concern.

Page 2

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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 create dance with heart and soul for theatre, church and community settings.

We are a vibrant contemporary dance organisation that makes, tours and teaches high-quality dance theatre that is relevant and life enhancing for everyone.

Founded over 40 years ago, we are one of the longest established dance companies in the UK.

It has been a fruitful and busy year for the Company with 3 performance tours and developing a new show for libraries, alongside our usual education programme and outreach workshops.

Overall, this financial year, 10,573 people were reached through the work of the Company. Our professional company delivered 41 live performances, reaching a total audience of 5,868 people (FY23: 2,224 people); our education programme reached 4,662 participants through 66 days of workshops in primary and secondary schools; and 43 people joined us for our Summer Intensive and open workshops.

Schools

We are the UK’s leading specialists in cross-curricular Dance and R.E. (Christianity) in schools. Our workshops and interactive performances are providing much needed resources for:

Over the past year, our outstanding teaching team has continued to deliver our education programme to schools across the country. We continue to see a high number of requests from schools to deliver dance projects that fulfil the R.E. demands of the national curriculum and provide creative ways for children to learn through movement.

In June we were delighted to re-tour PARABLE, an immersive dance theatre production and integrated workshop providing primary schools with visually exciting and imaginative ways to boost children's engagement with R.E. With thanks to The Cornwall Methodist Circuit, St Benet’s Multi Academy Trust, Integrate Youth for Christ, The Keswick Hall Trust and the Anne French Memorial Trust, we delivered the production 22 times for 1,114 participants in Cornwall and Norfolk.

Page 3

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Our Easter Project workshops remain our most popular and continue to provide opportunities for children to engage with the Easter story through immersing themselves into the events surrounding Jesus’ death and resurrection. Whilst we continue to focus on how we can enhance learning and engagement with RE all year round, we were pleased that there was a steady flow of workshop bookings throughout the year for our other themes of Refuge: A Christmas Story, You are Special, The Good Samaritan and Creation.

“Great workshop, age appropriate and very enjoyable for all children. Great workshop that allowed the children to express themselves through movement. You both made the environment safe for the children to move as they pleased. No pressure or judgement which allowed them to dance freely.” - RE Lead / Teacher, Parbold Douglas CofE Academy

“We have thoroughly enjoyed hosting [Springs]. They have brought such passion for what they do and have brought joy to everyone. Thank you. The children were so hesitant before we started this work as they ‘did not enjoy dance’. Now they are asking when we are doing it again!” - Headteacher, Waberthwaite CE Primary School

“Fantastic experience from booking to completion. The children loved the workshops, even our reluctant dancers. The RE Easter story content was pitched accurately for the age of our pupils. Children were having a go – it is really inclusive! I highly recommend your company at our RE network meetings”

Churches

We help people engage with the Christian faith through watching and taking part in dance performances and workshops.

In churches, we:

Journey of the Magi toured to churches and schools and was performed 8 times in December 2023 to 941 people. Whilst this was the 26[th] tour of this production, small changes are made every year to ensure the show stays relevant to today’s audiences. This year the choreography and character development in the party scene were updated, which received lots of positive feedback from audiences. The show continues to help churches bring people together at Christmas:

“...The show was wonderful and it was such a thrill to have the hall buzzing. The audience was a great mix of church and local community, which is what we'd hoped for, and few knew quite what to expect from contemporary dance - but everyone was captivated. Quite an achievement with an age range of 18months-90+ !” Sue Smith, Central Hall Methodist Church, Walsall

“This event doubled our record church attendance. Our attendees really enjoyed it. Wonderful dance relating complex story concepts.” Rev Brian Nash, St Chad's, Coventry

We were pleased to partner again this year with All Souls Music for Prom Praise at the Royal Albert Hall where we delivered a commissioned performance for 3,500 people (2500 children and 1000 adults).

In July, we held our Summer Intensive at Holy Trinity Church, Wallington. It was a joyful, encouraging and inspiring week with participants of all dance abilities coming together to dance and connect from across England as well as from Brazil, France, Switzerland and the USA. Our summer courses are a unique way to build skills and learn from each other, whilst being supported by a talented and experienced team of professionals from within Springs, and from other organisations with similar goals. Once again, we partnered with West End Has Faith, Natashas Project and Psalms & Stretches as well as welcoming a new teacher, Jin Hanley from the USA and Louise Ainley. We delivered a broad range of classes and expert panels discussing a range of topics relating to dance, faith and the performing arts industry. The company performed alongside participants at the end of week in a sharing of new site-specific work created through the week.

Page 4

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

“The week is a blessing. Springs personnel are very sensitive, welcoming and inclusive. The workshops nurture creativity, as does the process of putting together the creative project / performance.”

Following feedback from Summer Intensive participants that they would like more opportunities throughout the year to dance with us, we hosted an online workshop for adults on All Hallows Eve. This proved popular and provided an opportunity for dancers to pause and reflect through movement. We hope to run more of these workshops in the future.

In response to the need to nourish, value and support professional dancers in the wider dance community, we continued our relationship with Révérence Dance Company (previously named Taboo Dance / YWAM) and delivered an advanced day workshop for professional dancers of faith.

Theatres, Arts Centres, Community Spaces and Libraries

In theatres and the wider arts world, we:

We were delighted to receive a grant from Arts Council England, for the development of a new dance production Making Your Mark for children aged 3-6 in libraries and connected schools in Great Yarmouth and Lowestoft, working collaboratively with class & nursery groups from schools identified in areas with high deprivation and low cultural engagement.

Children were co-creators in devising the performance, taking part in dance, physical and imaginative play and making marks. We brought children from local schools to libraries to increase children’s confidence around books and with library spaces, and we offered the project free of charge to ensure it was accessible to those least likely to engage in cultural and creative activities.

“This was run professionally and ... was extremely beneficial to the children and local community. It had a good balance between being in school and being in the library and was lovely to see children we may not normally see in the library... what a wonderful way for the children to experience the way in which art and literature can work together, bringing joy and happiness in our community.

Inviting schools to the library to watch the performances also benefitted library users who might be socially isolated, and might otherwise not experience the joy that children spread." Sarah Brewer, Library Manager, Great Yarmouth Library

“Children loved the sessions and talked about it all day. All children engaged, even the ones I wouldn’t expect to join in did. Children got up to explore the library, some of them had never been before. It was confidence boosting.”

Kirstie Stone, Northfield St Nicholas Primary Academy, Lowestoft

“The sessions have been amazing. The children have spoken about them in class and have also shared their enjoyment with their families. It has been amazing to observe their development over the sessions and see their confidence grow”

Polly Wolfson, Northfield St Nicholas Primary Academy, Lowestoft

Across this project we reached a total of 474 people, through 24 workshops and 9 performances.

Page 5

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Other

In accordance with our plans we have also:

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.

Financial Review

Financial Performance

Overall, it was a positive financial year for the Company which resulted in generating a surplus on the general fund of £3,580 (2023: deficit of £15,812).

Regular monthly giving has remained steady and there has been a small increase in one-off donations, meaning that overall unrestricted donations were 7% higher than the previous year. 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.

There has been an increased focus throughout the year on grant applications and project funding as a way to ensure the company keeps moving forwards and producing new work. This has been successful with a total of £26,571 received in grant funding towards Making Your Mark and Parable .

The Company has submitted a claim for Theatre Tax Relief relating to the prior period of £4,381. The Company expects to submit a claim of £17,336 for the current year, which has been recognised in these accounts. The quantum of the claim is expected to vary in future years, dependant on the volume of new performance work being created.

There has been no movement in our Designated Fund for new work during the year, which means there is seed money to put into new projects in the following year. This is an essential part of being able to apply for further project funding.

Education income saw a 7% increase and still contributes significantly to our overall income making up 29% of total income. Whilst workshop bookings are trending in the right direction, bookings are still not at the same levels as they were pre-Covid, which is largely due to very tight school budgets.

The remaining balance of £139 on the restricted Technical Equipment Appeal fund has now been fully utilised following the year end.

The staff team has been restructured to ensure management costs are utilised efficiently, whilst ensuring National Living Wage is paid as a minimum to all staff and freelancers.

Page 6

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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.

Using this calculation, at 31 August 2024, an appropriate level of free reserves is a minimum of £18,194 and a maximum of £26,631 within which the Company seeks to operate. The level of unrestricted funds at 31 August 2024 was £46,048 and the level of free reserves (excluding tangible fixed assets and designated fund) was £24,743, which is within the expected level. 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.

Plans for the future

Plans for our work with schools:

Plans for our work with Theatres, Arts Centres, Community Spaces and Libraries

Plans for our work with churches:

We also plan:

Page 7

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

With thanks

This financial year, our work could not have taken place without the generous support of many individuals, communities and organisations. We would particularly like to thank:

Thank you for your support.

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Springs Dance company for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Page 8

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable 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 ……………………… and signed on its behalf by: 11 March 2025

............................................. [ agne291AFBBE902D44A... by:

Angus Reger, Trustee / Treasurer

............................................. Hany Sabin Kerry Salisbury, Trustee [ Ey7F98E5DDA085452... by:

Page 9

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

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 2024 set out on pages 11 to 22.

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 Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW

Date: 11 March 2025

Page 10

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

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 income/(expenditure)
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		 2024
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
27,887
-
27,887
-
26,571
26,571
44,315
-
44,315
104
-
104
181
-
181
72,487
26,571
99,058
(336)
-
(336)
(85,674)
(26,571)
(112,245)
(86,010)
(26,571)
(112,581)
(13,523)
-
(13,523)
16,898
-
16,898
3,375
-
3,375
205
(205)
-
3,580
(205)
3,375
42,468
344
42,812
46,048
139
46,187		 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
25,910
49
25,959
-
-
-
49,541
-
49,541
100
-
100
93
-
93
75,644
49
75,693
(1,284)
-
(1,284)
(95,058)
(49)
(95,107)
(96,342)
(49)
(96,391)
(20,698)
-
(20,698)
4,830
-
4,830
(15,868)
-
(15,868)
56
(56)
-
(15,812)
(56)
(15,868)
58,280
400
58,680
42,468
344
42,812

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 14 to 22 form part of these financial statements.

Page 11

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REGISTERED COMPANY NUMBER: 06371136 BALANCE SHEET AS AT 31 AUGUST 2024

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
£
£

8,305
-
8,305
-
34,848
-
19,085
139
53,933
139
(16,190)
-
37,743
139
46,048
139
 2024
Total Funds
£
8,305
8,305
34,848
19,224
54,072
(16,190)
37,882
46,187
46,048
139
46,187		 2023
Total Funds
£
10,858
10,858
28,705
9,620
38,325
(6,371)
31,954
42,812
42,468
344
42,812

For the year ending 31 August 2024, 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 14 to 22 form part of these financial statements.

Page 12

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY REGISTERED COMPANY NUMBER: 06371136 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2024

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 ……………… and signed on its behalf by: 11/03/2025

==> picture [128 x 104] intentionally omitted <==

----- Start of picture text -----
.............................................
[ agne291AFBBE902D44A... by:
Angus Reger, Trustee / Treasurer
............................................. Hany Sabin
[ Ey7F98E5DDA085452... by:
----- End of picture text -----

Angus Reger, Trustee / Treasurer

Kerry Salisbury, Trustee

Registered Company Number: 06371136

The notes on pages 14 to 23 form part of these financial statements.

Page 13

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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 Company operates remotely.

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 been 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.

Page 14

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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:

Technical Equipment 25% Reducing Balance Motor Vehicles 25% Reducing Balance Computer Equipment 25% Reducing Balance

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.

Page 15

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES (continued)

1.13 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 does not have any reported foreign currency exchange gains or losses.

1.14 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.

1.15 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

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

Depreciation of tangible fixed assets
Independent examiner’s fees
GRANTS RECEIVED
Parable
Making your Mark		 2024
£
2,757

1,380

2024
£
4,000
22,571
26,571		 2023
£
3,268
1,320
2023
£
-
-
-

3. GRANTS RECEIVED

Page 16

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

4. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES

4.
ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES
Activity
Performances
Workshop
/ Course
Fees
Travel
costs
recharged
2024
Total
£
£
£
£
Touring
Journey of the Magi
9,400
-
325
9,725
Parable
4,275
-
325
4,600
A Time to Mourn, A Time to Dance
-
-
-
-
Special Events
950
-
-
950
14,625
-
650
15,275
Education
School Workshops
-
22,300
2,791
25,091
Summer Course & Open workshops
-
3,949
-
3,949
-
26,249
2,791
29,040
TOTAL
14,625
26,249
3,441
44,315
5.
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Activity
Activities
undertaken
directly
Support
Costs (Note
6)
2024
Total
£
£
£
Touring
Journey of the Magi
13,436
10,706
24,142
Parable
7,948
2,951
10,899
Making your Mark
24,483
10,075
34,558
A Time to Mourn, A Time to Dance
-
2,687
2,687
Special Events
544
443
987
46,411
26,862
73,273
Education
School Workshops
15,573
13,272
28,845
Summer Course & Open workshops
4,201
5,926
10,127
19,774
19,198
38,972
TOTAL
66,185
46,060
112,245		 2024
Total
£
9,725
4,600
-
950







2023
Total
£
15,005
736
6,623
-
15,275
25,091
3,949		 22,364
23,956
3,221
29,040 27,177
44,315 49,541
2023
Total
£
28,402
3,315
6,810
12,769
-
51,296
33,282
10,529
43,811
95,107

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.

Page 17

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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

Touring
Support cost
Journey of the Magi
Parable
Making your Mark
A Time to Mourn, A Time to
Dance
Special Events
2024 TOTAL
2023 TOTAL
Education
Support cost
School Workshops
Summer Course & Open
Workshops
2024 TOTAL
2023 TOTAL		 Staff
administration
costs
£
7,054
2,015
5,710
2,687
336		 Equipment
storage
£
-
-
-
-
-		 Van
expenses
£
2,587
-
1,811
-
-
4,398		 Office
costs and
Insurance
£

872

767

2,092

-

88		 Governance
costs
Total
£
£

193
10,706

169
2,951

462
10,075
-
2,687

19
443
17,802 -
3,819
843
26,862
18,829 834
3,950
3,083
601
27,297
Staff
administration
costs
£
10,749
4,703
Equipment
storage
£
-
-
Van
expenses
£
-
776
776
660		 Office
costs and
Insurance
£

2,067

366		 Governance
costs
Total
£
£

456
13,272
81
5,926
15,452 -
2,433
537
19,198
20,431 -
3,683
719
25,493

Methods used for apportionment of support costs

Support cost

Basis of allocation

Staff administration & tour booking costs Estimated time spent per timesheets Equipment storage Estimated space used Van expenses Total fee income Office, Insurance and Governance costs Total fee and grant income

Page 18

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

7. TANGIBLE FIXED ASSETS

Cost
As at 1 September 2023
Additions
As at 31 August 2024
Depreciation
As at 1 September 2023
Charge for the year
As at 31 August 2024
Net Book Value
As at 31 August 2024
As at 31 August 2023
8.
DEBTORS
Due within one year
Trade debtors
Prepayments and accrued income
Corporation tax receivable
Other debtors
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN
Trade creditors
Accruals
Deferred income
Taxation and social security		 Technical
Equipment
Computer
Equipment
Motor
Vehicles
£
£
£
6,395
659
12,000
204
-
-		 Technical
Equipment
Computer
Equipment
Motor
Vehicles
£
£
£
6,395
659
12,000
204
-
-		 Total
£

19,054

204
6,599 659
12,000
19,258
4,903
415		 543
2,750
29
2,313
8,196

2,757
5,318 572
5,063
10,953
1,281 87
6,937
8,305
1,492 116
9,250
10,858
ONE YEAR 2024
£
9,224
1,084
21,718
2,822
34,848

2024
£
163
2,151
13,758
118
16,190		 2023
£
4,806
1,714
21,580
605
28,705

2023
£
94
1,728
4,500
49
6,371

Page 19

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

10. MOVEMENT IN FUNDS

As at 1
September 2023
£
29,468
13,000
42,468
344
-
-
344
42,812		 Net income /
(expenditure)
£
3,375
-
3,375
-
-
-
-
3,375		 Transfers
between funds
£
205
-
205
(205)
-
-
(205)
-		 As at 31
August 2024
£
33,048
13,000
46,048
139
-
-
139
46,187

The transfer from the Technical equipment appeal fund relates to capital expenditure of £205 in the year.

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

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Technical Equipment Appeal
Parable
Making your Mark
Total restricted funds
TOTAL FUNDS		 Income
£
72,487
-
72,487
-
4,000
22,571
26,571
99,058		 Expenditure
£
(86,010)
-
(67,124)
-
(4,000)
(22,571)
(26,571)
(112,581)		 Taxation
Net income /
(expenditure)
£
16,898
3,375
-
-
16,898
3,375
-
-
-
-
-
-
-
-
16,898
3,375

Page 20

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

10. MOVEMENT IN FUNDS (continued)

SUMMARY OF MOVEMENT FOR THE PRIOR PERIOD

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Technical Equipment Appeal
A Time to Mourn, A Time to Dance
Total restricted funds
TOTAL FUNDS		 As at 1
September 2022
£
41,780
16,500
58,280
400
-
400
58,680		 Net income /
(expenditure)
£
(15,868)
-
(15,868)
-
-
-
(15,868)		 Transfers
between funds
£
3,556
(3,500)
56
(56)
-
(56)
-		 As at 31
August 2023
£
29,468
13,000
42,468
344
-
344
42,812

The transfer from the Technical equipment appeal fund relates to capital expenditure of £56 in the year.

The transfer from the Designated fund is to maintain an appropriate level of free reserves.

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

Unrestricted funds
General fund
Designated fund: legacy
Total unrestricted funds
Restricted funds
Technical Equipment Appeal
A Time to Mourn, A Time to Dance
Total restricted funds
TOTAL FUNDS		 Income

£
75,644
-		 Expenditure
£
(96,342)
-
Taxation
£

4,830
-		 Net income /
(expenditure)
£
(15,868)

-

(15,868)

-

-
-

(15,868)
75,644
-
49		 (96,342)
-
(49)
-
-
-
49 (49) -
75,693 (96,391) 4,830

Page 21

Docusign Envelope ID: A43843A8-2685-405C-9854-447546E73481

SPRINGS DANCE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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 ringfenced to create new dance works

Restricted Funds

Magic Paintbrush Making your Mark / Jump In Technical Equipment Appeal Parable

A Time to Mourn, A Time to Dance Arts Council England

To produce and tour the Magic Paintbrush

To develop and produce a new dance production for libraries To purchase technical equipment necessary for productions To create a new interactive performance and workshop that reimagines the parables that Jesus told

To create, rehearse and tour this new production

To carry out research and development and teacher training during lockdown

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Cost of defined contribution pension schemes		 2024
£
29,375
342
29,717		 2023
£
33,137
335
33,472

The employee benefits received by key management personnel were £16,491 (2023: £22,931)

The average number of employees was:

The average number of employees was:
2024 2023
Average monthly part-time employees 4 3
Average number of part-time subcontractors 9 9

12. TRUSTEES’ REMUNERATION AND BENEFITS

No trustees received any remuneration or other benefits for the year (2023: £nil). No trustee expenses were reimbursed (2023: £Nil).

13. RELATED PARTY TRANSACTIONS

Donations amounting to £4,990 (2023: £4,790) were received from trustees during the year.

Richard Hughes, who is married to Ruth Hughes, provided filming and editing services to the company, through his company Edge2Edge Films, totalling £1,135 (2023: £300, net of a £800 charity discount).

During the year, the Company paid a salary of £3,396 (2023: £13,664) and a pension of £147 (2023: £216) to Eliza Reger as an employee. Eliza Reger is considered to be a related party as she is married to Angus Reger, a trustee of the Company. As per the Charity’s conflict of interest policy, Angus Reger recuses himself from any decision making in relation to Eliza Reger’s employment including compensation, hours or other benefits.

Page 22