Compw registration number.. 3471844 Cbtirity re8islration number: 1137490 African Cultural Exchange Limited The Link SpKe {A ¢ompw limited by gijarth) for th¢ Y¢ar Ended 31 MaTch 2023 Bissell & Brown Bimiingham L4d Charterrd A¢¢ountsnts 12 Portman Road Binnin8ham B130SL *ACIP￿7v* ie11212023 OMPANIES HOUSE A11 #112 Africgti Cultural EichAn8e Limited kno￿ w The Link Dance Spa Contents Refer¢n¢¢ and Administrntiv¢ Detsils 2to5 Statement of Tn￿¢¢$. ReS￿￿1b￿lIttes Inthpendent Examinerfs Rwrt StstetD¢n¢ of Financial A¢tivities Balan¢¢ Sheet Notes ty the FIn￿l¢la1 Stat¢mMts 10kn17 AfrI￿ll Cuhural Exchange Limited known as The Link Dance Spa¢e Reference and Adminijtrative Detailg Trnstees Paul Ude Nigel Bryce Gardner ViDcent UgE 1137490 Charity R4istr*lion F4umber Conkplly R4titr*tiwi ]Ywmbtr 3471844 Rteistertd Office The Link Dance Space 5&57 F1¢>￿181tt St Digbeth B5 SSL IndepeDdettt Ei*mineT Bissell & Brown BinDiD8bam I Charternj A¢counl•)ts 12 P¢)rnnaD ROTA1 Kitigs Heath B13 OSL P*8e I African Culthr41 Exchange Limited known 4$ The Link Dance Spaee Trnstee8' Repirt stat¢ments of the charitable company for the year ended 31 M¥¢h 2023. Paul Udenze Nigel Bry¢¢ Gardner VI￿¢nI U81 Obje¢tives ind *elivi¢ies O¥eds &ftdolMf To adV￿ce edu¢*iott for the public benefit by the PTQrnOtionof the aTty in p¥rli¢ul¥ but D)t exdusiveiy the art of danc¢. The CA)mpany was Te8iStered ￿ Chty Commission on 13 Au8Wt 2010. ACE d￿te 2nd music 1$ one tsf th¢ nwst higbty regar￿ Kitet* *d r¢5ili¢ni danee UMnpnie$ in the UK led by Artistic Director. Gail Parmel. Founded in 1996. Binnithgbam based ACE dance and music {Afiican Cultural Exthange Ltd.) is a professional daDc¢ Company bas¢d in the West Midland5. Under the arti5ti¢ direction of Gail ParnKI and M￿S1C41 dirxtion of tan Parmel, ACE dance and music fuse tr*litionai Afri¢an and Caribbean dance aesthdic with contem￿rary trchrtiques to mt¢ high qua]ity intK)vative ￿rfornia￿ct outreath and education pro8rarnme5 for athdts #nd young peLwle in • variety of formal ¥nd infonnal Settings within Birminghwn, the West Midland5 reyrm. xross the UK and inc￿]nglY itt rnainlaTrd Europe. The CompBny'$ work involv¢5 rnusic collat￿￿tIOnS ¢h¢ of new arml digitsj rn￿11 and techniques from other rforming aTts including th¢atr¢. Throughout 2022123 ACE dance and mu51¢ bave continued progress iti a¢hi¢ving obj¢¢¢ives withio their bysitiess plan. Se¢ key achievements here.. P*ge 2 ArrI￿ll Cultural Ex¢lwige Limited known as The Link Dantt Space Trustees, Report In (ktob¢r 2022 ACE'S newest towing pT(4Ju¢tion. UNKNOWN REALMS. premiered iti B1￿1n8h1rn. The wY>rk is in two parts. the firt The Night Befor¢ TonwJrrDW, was choT¢owhed in 2021122 by Serge Aitne Coulibnly, a dancer choreographer from Burkina Fjso, with ACE'S pwofessional company. The second. MANA - The Power With]￿ was chorw8raph¢d in 2016 by Vin¢eDt MantsK a dancer and chorwgrnpher from South Afric4 a]ongside ACE'S Creative Direaor. Gail Parn]¢l. and been reM￿rked and revived with the current cornpany lo cornplete this PToducti¢Jn. UNKNOWN REALMS was perf0m1￿ at 10 mid-siz¢d arts venues xross the UK in the Authttn￿wlnter of 2022 and anoth¢r 10 in the Spring of 2023. The overwtLelmiD8ly pjsitive miews. ftedbxk audienrK5 aDd progr8mrn¢r5 and dernand from oth¢r vettu¢s has led extension of the touring sthgdule for this prLwJuction into Autumn￿l￿ter 2023, iticludiDB international dates in South Africa and th¢ Netherlands. ROUIE 34. EMBIiACING CULTURES In Summer 2022 B1￿k Voicu. ACE dance and music. Iw Centre of Excellence and Bknck Forum ¢ame together to Pft5ent ROUTE 34 - EMBRACING CULTURES. a six-rnonth extrava88nz2 of texkn. soundscape ¥nd colour that celebrated the ricbncss of cultsre in Birtthingbam. &8 part of the cultural activity supwjrting the Commonwealth Games. The Caribbean is a divers¢ T¢Bion ID clim* and t¢naiJk tkn that brims with natyr41 Mfbnd¢r. Route 34 took inspirntion from this vibrant ba¢kdTOP. as carnival chatactets athd Tnass Voicts from the choral comrnunity joined together ftsr & 5erie5 of perfornian￿5 and community-led activities 4imin8 to give dRasporn ¢4)mmuDitiCs in Birmirtgharn tk¢ opFK)rtunity to enga8e dynamically with Caribbean culture in their 0￿1 5tre£ts and public spatts. FAMILY FUN DAY . PERRY PARK A￿ dance aDd music's education tthission fulfiued by involvitig 14 sclK#)]s in the pmjecL erth•liDg children to learn about and celebrate the diversity of cultures in their 5chwl WllTnunilies. GRS DOORSTOP CARFQVAL Additionally. DooTSt¢p C8rniva] vras S￿￿$b]I in iDtrtyJu¢iDg Carniva] ty new audi¢nc¢s and helping participants to slwe in each other's culture5 and trAlition5. The emph￿15 wa5 OD ueating a feeliD8 of belonw the Garnival was ￿le1[ art form" tm) rnatt¢r what th¢ir age, hcritsge, OT b8ckgroun Taking place outsid¢ of the city cetttr¢, in Handswrt an aTra with a large CaJibbean and Asian diasporic popul*ion, it offered a less wmmer¢ial and mort ¢ommuDity-basoa VmiOD of th¢ CaTni¥aL which peopl¢ could see and hear from their homes *MI which drew people out othto their strcds. Th¢ ¢v¢nt at the Bulkn?￿ ¢onvetsely took the engage ￿ people in th¢ comm¢r¢i81 ¢¢ntre of the City and to bring the joy. art and freedom of Carnival itito that spxe. This a]so resul*d in peopk of m*Ly diverse cultures coming together and l¢arning about Caribbean culbjre.. "There were $0 rn￿Y people th¢T¢. I don't kl￿w how they knew aknut maybe thry w¢re just doing their shopping and stopped to watch. It was th¢ nwst ￿7ing atmosp1￿[¢. The enthusiasm was to se¢ people slwing in a ¢uhuJr that wasn'i thein.- MOSILY JAZL FUNK AND SOUL FESIIVAL Mostly Ja74 Funk and SouIFestival is an atmual festiva] that tskes place in Nloseley Park every year. celebrating gmund-breakiDS, ttinovative UK music aloJyid¢ int¢rnthoDal trailblaz¢rs prioTiti5in8 music of black origin. It's an independentty festival, ¢a¢h year pyt on foT the love of musi¢, Community and friendship. giving audiences the chane¢ to see acts in an idyllic and intin￿* Sdting still within the city. ACE perforni at the festival every other year. African Culthral Eiehang¢ Limited known ￿ The Link D*nce SpKe Truste¢s' Repjrt hiblic benefit The tnjstres CQDsidtr the supwjrt to dtsadvantsged a￿] PL￿[tr membus of the COrnm￿lty ID Birmingkn, aDd dissemination of lesso￿ learn¢d to the of the ¢OUDty. ty be of publi¢ ben¢fiL The Trustees confirni that they have ojmplied with the requirements of seav)n 17 of the Chvities Act 2011 to Iwe due re8aTd to the public b¢nefit gUIda￿e pubii5hAI by the Chjrity Corn1#1(￿ for England and Wgles. The tru5te¢s ¢onfirn] that tbey have wmplied with the requirements of se¢tvM 17 of the cb￿ltIeS Act 2011 ¢0 hAve du¢ r¢KaTd to th¢ public b¢D¢fi¢ 8uidaoce publislhed by the fi)T Engl8Dd and W￿¢$. ARTISTIC COLLABORATION. MENfoRSHIP AND SUPPORT The Embrncin8 Cultures project afforded opprtuDities for the yowh8 people involved. P¢rforniin8 io unfamiliar venue5. and experiencing audience intertctton for the first time offered the yo￿8 dwKers new skills and experiences. Young people had the Op[￿tilnity to lead W1￿UpS and ts prxtice the rouiines with children and adults. Chaperones dso developed their skills during this proj¢¢t. They *Er¢ trained and debriefed after perfonDaDce and managed 8roups of thildren in ¢ballenging ¢ondiuons owing to the mulriple ¢OStsrne cbanges and the hot weathw. Two da￿¢ artists emphasised the career development opp)rtunity that the project provid¢d. Funding from the E5mée Fairbairn Foundation ethled ACE danrx music to tr3in the danc¢r5 ty I￿kn Primary scbool ¢hildten. The5¢ W¢Te daDceT5 whD had MvTkEd ACE daA)ce and music when they wrre childrm and onc DDW had the opportunity ty go b&k to the primary school she had attended and nrtor the thildrtn there. All the respondents involved with ACE dan¢¢ musi¢ g￿¢ examples •5 to I￿ the prnje¢t prtivided op1￿linItieS for cultwal l¢ad¢rship d¢velopmenL The Rehe4NI Di1￿￿r at ACE danL* and music twk on new responsibilitie5 dwing this proje¢ hosting partiCiP8tory workshops and engaging young people. while another Y(￿g dancer led wami-up5 for the whole wmpany and took on l¢*kTship roles for rehersais. The young dan¢eTs ￿tW in confidence and more estsbiished daTrCt￿ mentOTed the junkot5. One Ir$p￿dent lE￿iVed a WQTk prnrnolTon prior to the woje¢t. a role which came with new responsibilitie5. and the pmject provided their first expuience of pe4)ple manyer Atbievements *nd ptrformante CtiribbeaTh Flora event- MAC Bewtiful costwnes and dTrmati¢ dan￿$ x¢ompanied an ¢xplos#)n of eolour as th¢ MAC came 81iv¢ with CaTniva]. It was a day for 811 the famity w enjoy. there *fTe craft dance workslws througbout thc day culmimtsng in a magnificent Carnival procession to bring colour and Pul￿tID8 thythw to th¢ Summthgs of Hill Puk. LEEDS WEST INDIAN CARNIVAL IAeds West Indian C*Di¥￿ is a kaleidoscope of jaw4lmppitig ¢ostum4 itife¢tious tropi¢al tlrythm4 mouth whtering food. Caribb¢an culwre and entertsinrnent for cveryon4 and one of the biggest Carnival ¢elebr8tioDs in the UK. ACE have been a part of Leeds Carnival every other year for seveAI yeats, and despitr being som¢ distance aw￿. ACE are valued as one of the forem05t biack.led dance LX)wies th¢ UK aDd OUT Perf￿￿1￿ceS hav¢ bxorne a crucial and much-anticipated part of this Carnival. EDUCATION Following the Emb￿la8 Culthlles prnjeet fouttd that class numba5 had grow￿ likely &% a result of engagement with suEh large local aUdi¢D￿5. Page 4 African Cultllr*l Exchange Limited known as The Link Danee Space Trustees, R¢port FiD44¢ial review Pollcy on reserves Additional fimdiDg streams eontinue ￿ be swhi to help ¢4)ntinue the w)rk that A￿ d￿re wxd ttwsi¢ sets out to do. The reserves which w¢ hav¢ 5¢t aside provide rMa￿la1 stsbility and the rne￿S for th¢ d¢velopment putP05¢ of our principal artivity. We inteDJ to maittsin our reserves at a level which 1$ at least equiv￿c]rt to Six rnonths of opernting expthditUTe forthe e4)mpany. The Board will Teview quaterty the of resrn that •Tt en￿¢ that they ¥e adequate to fvlfill our continuinÈ obligations. Structur4 eovernu¢¢ #Dd WD*g¢m¢yI Each year the Artisttc Dittctor Gail Pam*1 MBE. a￿j Musi¢ Dirtttor & CEO 14tt P*n*L rn new artistic which are perfonned by the c￿￿$ dancer5 and internats(*￿llY. The trustces ue won5ible forthe over*ll maDaBetherrt of the c4Jtnpany ￿ me¢t 4 times * year. . aAd sigfted on its behalf by: Paul Tru$tec Small compauirs PToTrion stAtemeDt This re￿ has be¢n prepared in a¢cordw with th¢ small ￿￿panIeS T¢8im¢ c(rfThp￿I¢9 Act 21x16. Going coacern The trustees lthve e¥)nsidend budg￿ ￿ cash Ikyw forecasts through kn OLtober 2021. and the kvel of pst year.end support received from Arts CowKil England. On this b¥14 the Irustee5 ￿)￿51d¢T there ue m￿n81 uncertainties alyout the cbaTity'$ ability 10 ¢Ontinu¢ as a gyjitig u)n¢¢m sigttifiwt aT¢as of uncatwnty that atTe£t th¢ canying value of ass¢ts h¢ld by the chority. P￿¢5 AfrieaD Culthral EiebaDte Limited known as The Link Dance Sp￿e Statement of Trustees. RespoDsibilitstJ The tnjstees (who are also the diredors of Afriw Culbjrnl Exchange Limited for the P￿￿Se$ of company law) are responsibk for pr¢parin8 th¢ tn￿ttts' rewrt and the finattcial ststements in acc4xdaD¢e applicable law and United Kingdorn Accounting Standards (United Kingdom Generdlly Accepted AccoLmting Pra¢tic¢l. including FRS 102 'Th¢ FiDancial Repottin8 Stayjdard applicable ID the UK and Republic of ￿tland.. The report and have been pr¢pared in acwrdance with the provisi¢Jns in the Comp2Dies Act 2006 rel¥ting ty small companies. CoMp￿Y jaw requlres the thjstees ￿ ptepare fjDxial stst¢ments for exh finan¢ial y¢ar. Under coJDpaDy knw the trust¢¢5 must not approve the fitWLcial statetr￿ts wd¢ss they aTr satisfied th* they give a true and fair view of th¢ stste of affairs of the Charitable cornpany and of the inwmin8 re9xw￿ and application of tesources, inrlty4ioB tts income and expetiditurt. of the chvitable ￿mpanY forth8t w￿)d. Jn prepari￿ these fiD￿l￿ 5¢at¢m¢nts. the tsv5te¢s are required to.. 5¢1e¢¢ suitabk accounting policies and apply them Consi￿ently. observe the rnethots and principles in the Charhties SORP" make jud8ements and estirnates that are tt350Dable and state whether applicabl¢ acc4Juntin8 Standards, ￿prisIng FRS 102 hav¢ been folknwe4 subjett lo any material departures disclosed aDd explained in th¢ fin￿￿1&1 ststernents; and prepare the financial staiements on the 80108 fA)DCaD basis uDle35 rf is inlppropriate 10 presume that the charitable ¢ompany will continue in business. The trustees are re5wisible for keepill8 PTop¢r #t￿￿￿ting re￿ th& c•tt disdose with Tewnable %¢urxy at any time the finaTh¢ial position of th¢ ¢hori¢able compally ¢nabl¢ them to ensure that the financi￿ st*emeDts comply with th¢ Companies Act 2006. They are also r¢5Wll5ible for safegwdiDB the a55ets of the dwitable ¢ompaDy and he￿¢ for tsking re&sonable steps fortht prevention and dete¢tion of frnud and other iwlarities. The trustees are resp)nsiThle for the maintenance and inwity of the ¢ow amd financial infonnation iDcluded on the charitable eornpaDy'$ websiie. Legisl￿10￿ 8overnitig the preptilati￿ ADd dissemiaation of finatt¢ièl stat¢m¢nts may diff from legislation in other juri5dictioos. £3and si￿4 on its lthlf by.. Paul Trustee P•8e 6 African Cultsral ExehaDge Limited known as The Litik Dance Spx¢¢ Independent Ex2mioer'$ Report to the trustees of Afric￿ Cuhural Ei¢h#nge Limited Cth¢ Company,) l We￿)rt to the charity trustres on my eXaMin￿￿)n of the xcoutsts of th¢ Qlmpony for the year ffid¢d 31 March 2023. RespJnsibi]itseJ b*su •f report As the ¢haTity's InLstee5 of the Company (and al￿ its diTXtOTS foT the Pur￿¢$ of law) you att responsible for the prepar*ion of the a¢r￿unts in accord￿￿ with the rcquirtments of the CompaDieS Art 2006 {'the 2006 Act.). Havitig S*isfied rnysdf that th¢ accou￿ of the Company •r¢ wt r¢quired to be a￿lity1 under Part 16 of the 2006 Act and are eligible for independent examinatiOD. I re￿)rt in respect of my exarnin4tion of your ch&rity's ac¢ounts as Carried out undef se￿10￿ 145 of the Clwities Act 2011 ('the 2011 Act.). In canyirtg out my I h&ve followed the DirectioDs given by the Chatity Commission und¢T sxtion 145(5Xb) of th¢ 2011 Ad. Independent ex*thln¢r's gl*tth*ttt Since the Compan￿$ Voss iM)Tne ex¢¢ed¢d £250.(Y)O yow examiner must be a member of a body listed in sectitin 145 of the 2011 Act. I ¢onfirni th8t I am qualified w undenth th¢ examir￿1rn beAu5e I ￿ a member of Bi5sell & Bro* Birniingkn Ltd which is one of the listed i￿les. I have completed my examinatiOD. I confinn that D) matter5 hav¢ come to rny attuttion in r￿nneCtiOn with the examination 8ivin8 me cause to beli¢v¢: l. #couthting re￿rdS *tr¢ not kept in r¢sp¢ct Of Afriw Cultyral Exdw Limit¢d Js T¢qUiT¢d by section 386 of th¢ 2006 A¢¢ or 2. the acwunts do not accoTd with those ￿tsYd$. or 3. the ￿o￿lts do not comply with the ￿Qu￿ting requirements of s¢¢tion 396 of the 2006 Acl other than any requiT¢meAt that the a¢¢oNnts give a 'true aThl fair view which ts tw)t 8 mater considered as part of an indeprndtnt examination" or 4. the accounts have not been prtpared in accordanrx with the methods WKI principles of the Statern¢nl of REcommeDd¢d Practice foT ¥¢ouniing T¢￿T￿8 by ¢haTities [applicable to ¢hariiies preparing th¢ir a¢counts in accordanrx ￿ the Finan¢ial Reponing Standard applicable in the UK and Rryublic of [￿land (FRS 102)]. I have no ctheerns and have e4Jm¢ a￿05$ m#tt¢r5 in conD￿ti(￿ th¢ ￿4￿]nation to whi¢h 4ttMtion should be ID this rep)rt in ord¢rtO eQ8ble a wjper of the atcollt￿ kn be re4ched. J Matthews FCA Chart¢r¢d Accountants Bissell & Bro￿ BinniDgham Ltd 12 PortmaD Road Kings H¢ath Birniinsham B13 OSL [, (_ ge7 Afri¢ao Exchange Limited known 4$ The Link D*ne¢ Space StatemeDt of Finaneial Activities for the Y￿r Ended 31 Mareh 2023 neluding Income and Expenditsre Ac¢ouDt ¥Dd StatemeDt of Totsl Re¢ogDiied G4iDJ aud To¢*1 2023 To¢•1 2022 Intomt •nd EDdownwmts from: Volunlary Charitsble aclivities 407.396 123.129 3,013 29.535 2,000 232.242 409.3% 355.371 3.013 29.535 415,699 153,782 80 24,501 Totsl Income 563.073 234242 797.315 594.062 Eipendithrn ott: Raising hmds Charitable activities (2.653) 586,35 (5.9)9) 21323 (8.652) 799.594 (19.271) 524.289 Toi41 Expenditure 589,010 219,236 808.246 543,560 Ne¢{¢xp¢nditsJreyiAcoffje 25,93 15.006 10.931 50.502 Net Movement in fimds (25.937) 15.006 (JQ.931) 50.502 R¢¢oncili•tiots of funds Total bn)ughi forward 616.673 34,051 650.724 6￿222 16 s￿,736 49,057 639,793 650.724 All of the ¢harity's activities delive from continuing tipmtions thriD8the •bove two ptTiod5. The ttotes OD pa8es 10 to 17 fonn an inte￿￿ part ofthae finaD¢ial sth*meDts. Page I Arri￿￿ Cultural Eiehange Limited known *$ Tbe Link DaDce Sp*e¢ (Registration number: 3471844) B#lanee Sheet *8 at 31 M#rch 2023 2023 2•22 Fixed *sJets Tatigible assets 4.554 5.720 Curr¢D¢ *9g¢ts Stocks Deb￿ Cth at bank 4nd in hand 12 13 14 717 28,917 638,546 668.180 720 19,306 657,950 677.976 Crediton: I*ll￿ dme pithi* •M¢ ye•r 15 32.941 Ne¢ current 8Jsets 635239 645.004 639,793 650,724 Funds ofthe charity: Restri¢ted iDc•me 16 49.057 34.051 UDrestri¢t¢d In￿￿¢ fvodj 590.n6 616,673 T•tsl funds 16 639.793 650.724 FOT the financial ye4r enditig 31 March 2023 thE dwity entitled to eXanwI￿ frorn audil under se¢tion 477 of the Coms>ani¢5 ALX 2006 r¢I￿lD¥ to srnall Diredors, re$￿IbilItieS. The m¢rnbers hav¢ the ¢h&rity to obtain att audit of its for the yew in qu¢5tion in with section 476" and Th¢ directors xknowl¢dg¢ their rtstNX￿I￿1IltlCS frx comptying with the Twuitements of the Acs with T¢spe¢t to ¥￿￿ttling records and the prepar*ion of a¢rounts. These financial statements bAve been prwed in a¢th with the spe¢ial provisions relating to comA)at)ies sthject to the smajl ¢ornpaThi¢s r¢gim¢ withim Part 15 of the Companies Act 21)06. si8Ded on their b¢half by: Paul Trnstee ¢tJ The Dotes on page5 10 kn 17 fonn ID inteyal pwtof these fAnancial ststements. Pa8e 9 Afriw Culthr#l Exchange Limited kDOWD as The Link Dance Sp•¢e Nota to the Financial Statem¢nts for the Year Ended 31 Mv¢h 2023 I Cb*rity ststus The charity is limited by guthntee, incoTrKKated in Engknd & Wale5. atm1 cKJnsequently th)es not h#Ye share capital. Each of the thjstees is liable to contribute ao amowit D)t exceeding £1 towards the assrfs of the charity in the event of liquidetion. The address of its re8iStered offict is: The Litik Dan¢e Spa 54-57 Floodgate St DigbEth BS SSL issue 2 Aeeoll•lillg polirieg Summary ofsipifK•ot a¢￿￿ttl1￿1 PDliciu x#d key #ccowiling e511D￿t*S The prift¢ipai a¢¢AJuttting policies applied in the prepamion of these fiD*ncial ststrments are set out below. These ￿lIcIeS have been con5iStently applied to ail the years pre5ente4 Unless Other￿Se 5tsted. Ststem¢nt of compli*nfe The financia] 5tstements have been Fryared ith #eeordanee with Accounkng Re&￿]ng by Th￿111¢$.. Ststement of Re￿Mmended Practice (appli¢abl¢ to chvities pT¢pwing their 8¢wJnts in accordanc¢ ￿ the Financial Reportin8 Standard applicable in the UK and R¢public of Ireland (FRS 102)) (issued in Oaober 2019) - (Charities SORP (FRS 102)). the Financial R¢portinB Slandard appliuble in the UK and liwbli¢ of Ir¢hDd (Tr￿s 102} aod the Cornpani¢s A 2006. B*sls of prtprntion African Cultur8] Ex¢hanBe Limited me¢ts th¢ defini¢ion of i pJbli¢ bett¢fft entity under FRS 102. Assets and liabilities ar¢ initsally r¢wgDis&J at hist01y￿1 ￿$1 or tratis&¢tion value unless othernise s*J in the relevattt a¢cowiting policy notes. Goiug ¢on¢¢rn The trustees consider that there are no m*erial uncetsinti¢s atK*Ut the ¢harity'$ ability tr> watiou¢ ¥5 a 8Oin8 conrxrn nor any significant areas of unCer￿ty that affect the wrying value ofassets beld by the ¢h¥ftty. The tn￿$ have considered b￿gets and casb fiow fortL&Sts throu8h to October 2021. aDd the kvel of ￿$t year-end suppon rec¢ived frnm Asts Council ED8land. OD this the consider that theTe are no Ma￿la1 uncertaitities aboui charity's ability th continue Is a going c4mvrn nor any signthcaDt areas of unkxrtainty that affect the cJnyin8 value of ￿Sets held by the cknity. Eiemptlon frnm pr¢pring • ugh Ilow st*teM hflow All in¢ome is re¢ogtiised once the Charity h&8 ¢Dtitietnent to the irn. it is wobable that the Iti¢0￿ will be ￿1¥¢￿ gnd th¢ of the incon* Trfeivable can b¢ rn¢3swed teliabty. Page io African Culknr*l Exchang¢ Limited known as The Link Danee Space Notes to the FiDvdDeial Statements for the Year Ended 31 Marcb 2023 Donations are recO8tii￿d when th¢ ¢harity Iw becn notifitd in wtitiD8 of iwjth the amourtt attd scltlemetrt date. In the event that a dottation is subjert to f￿nditions that require a level of puformance by the cbarity before the charity 15 entitled to the fim(Ls, the iDcome is defeTr¢d and rAot reo)gnised until either those conditions art fi￿]Y or the ￿lfi]Meth of th05e condit10￿ is wI￿lty within the control of the charity aod it is prob8ble that tt*se eonditions will be fillfilled in the reporting period. GrnRts receivoble Grants are recognised when the ¢lwity has an entitlernent to the fijnds and any ¢onditsons linked to the gr8nts have been met. Wh¢r¢ p¢rforn)an¢¢ u)nditions are allached to the and ¥e yet to be rneL the itho)me is recogtiised &4 a liability and in¢lud¢d ott the balance sheet &% deferred inr•n¢ to b¢ T¢leased. D¢f¢rr¢d income represents amounts Trccived for future periods is rtleased to itKoming rèsowres iti th¢ period for whi¢h. it has been received. Such inrA)me is only defured wlw: . The donor sp¢cifi¢s that the gwt or &ination must onty be in firture a¢o)witing period8" or - The donor imw)sed conditions which must be rnet befo￿ the charity kn unconditional entit]emeLt. Dividenth art Teco8ni5¢d 0￿X the dividend ha5 b¢¢n d￿lar￿ and JxMific#tioll h&8 been received of the dividend th￿. ExpeDdiknr¢ All expenditure is tecognised oncc theTe is a le8al or constnth obli8ation to that expenditutt. it is PTobable $ettlernent i$ requircd and the amount can be m￿u[￿l reliably. All costs are allocated to tht applicable expenditure headin8 that aggregate similar ¢osts to that cate80ry. Where ¢osts cannot be 8ttribut¢d to particul￿ headin85 they have been allocated on a basis consis*rtt with the use of resou￿. with central stsff wsts allocated on the basis of time spent. d¢pre¢iation charges allLKated on the &￿10￿ of thE wet's use. Cxher sUp￿rt costs al]oca*d based on the spread of staff costs. a¢tiviti¢s that raise funds. Ch¥ilable ¢xpenditiTe romprises those costs iDcurred by the clwity in the dclivery of its f£tivitirs WMI scrvic¢5 for its ben¢ficiaries. It includes lth costs that can be aJloc*l directty to xtivities and those c05t5 of an indir¢¢t nat necessary to 5UPPOrt them. CoverJwwDt gr*￿ts Government grants are r¢¢ogDised based on the a¢¢ruai model and are m￿U￿0 at the fair value of the asset received or receivable. Grants are ¢lassifi¢d as relatirtÈ either to revenue or to assets. relatin8 to rcvcnue rewi5ed in in¢om¢ over the period in which the Telated costs are reCo￿lS¢d. Grarts relating to wets are recognised over th¢ ¢xpected useful life of the ￿se1. Wh¢Te part of a grant r¢latthg to an as5¢t is d¢ftrre& it is re￿ A¢¢orthgty. th¢ chm is pot¢ntialty exempt from th￿10￿ in rwect of inrA)me or capital 88ins rec¢iYed within thgories ￿Vered by Chapter 3 Part I l of the Corporalion TaxAct 2010 or Sertion 256 of th¢ Taxatiott of cb•￿￿le GaiDs kn 1992, ￿ the ¢￿ent that such ITh￿￿¢ or 8ains are applied exclusively to ¢knitsbl¢ pwF*)s¢s. DepreelAtion •ad worti5atioA Depreciation is PTovided on tWl8ibl¢ fixed &s%ts so as to ￿lte ¢)ff the cost OT Valuatio￿ less •ny ¢5tim*d tesiduai value, ov¢r their exp￿￿ ys¢ful ewD)mi¢ lifr as follows.. Futsd itructure Unr¢stri¢ted I0￿me fimds 8eD¢ral fimds that *e I￿11¥ble for us¢ at the tfUFtee$ discretion ID fiwtheraTKe of the objectives of the Charity. R¢striCted iticome fi￿d$ are those donated for we ID * pJti¢ular area or for spKiS¢ purpos¢& th¢ use Of w1￿h is re$tri¢ted to area or PUTW. 3 In¢ome from donations I¢E*CKS funds Tot*1 2023 Totsl 2022 Donations from iDdividua15 Grants. including capitsl 8rnnts: Arts Cowi¢il rLir¢ 8rnnt 1077 4.077 10.380 405 J19 405.319 405.319 415,699 407J96 2.QlJO 409.396 4 IDveytmeDt itieomt Voreg¢rit¢ed To¢•1 2023 Tot*1 2022 Interest ￿tIvable and Similar Inter¢sl Te¢eivable on bank &p)sits 3.013 3.013 80 P•ge 12 Afrkan Cultural Exchange Limited known ￿ The Link Dan¢e Space Notts to the Fimaneial Statements for the Yw E•ded 31 M*r¢h 2023 5 Othv iD¢om¢ Totsl 21123 Totsl 2022 lientsl irt¢ome 29.535 29.535 24,501 6 Inetsme from ¢haritsble *¢tivi¢ Tot•1 21123 Tfytsl 1022 f¥nd5 Arts Council- balance of cultml mvery 6,5 18.0 4,0110 Arts Council- feasibility gmt Birrnin8ham City Council Birmingham City COW￿11 . Cultwal Feasibility BirmiAgham City Council. Florn The Birnhingbam Roiary Club Esmee Fairburn- Edu¢ation Officer Esmee Fairburn- Strike a Light New Build GraDtham Yorke Grinhmitt Trust Limoges Chwitabl¢ TnL8t Th¢ NationaE FowLd The Rowlands Trn$t io 6.000 4,000 lo.￿0 2,CKIO 40,000 4.01)0 15.000 40,000 4.0 15.OiKI 5,000 1,000 3,000 30.000 5,0 uoo 60.￿0 2,5rJ) 60.(￿0 3,000 33.8S8 63,413 101.742 650 25,178 33.888 63.413 Education and sullunex school NBA income Special events Other 20,660 3.000 1.520 1.202 38.900 101.742 650 25.171 123.129 234242 357.371 l53,782 7 Exptndithre OD ¢h*ritsble x¢tsvities Uoreslrict¢41 f￿d9 G¢ner•l Totsl 2•23 Totsl 2022 Produrtion Costs Merchaodising costs (1.471) 1.586 Pw13 6.973 5,502 1,586 36,520 1,825 African CulturAI Ex¢baDg¢ Limited known as The Link Dante Space Notes to the Financial Statements for the Year Ended 31 Mareh 2023 Total 2023 TDtsI 21122 fuThds Tourtravel & subsistenet MaTk¢ting & publicity Artist & dance fees Other freelan¢e f¢¢5 D¢pre¢ia¢ion Costumes Wages & adtDin fees Dircctors. salaries Employers NI EdUC￿lon officer Benefits in kind Pension costs Staff e05ts incl trainiD8 Supporting core capacity Rent & rates Capitsl fe&sibility costs tn$uranc¢ L￿h¢ & he Cleanitig Repairs & ￿new013 Covid 19 costs Stationery. print & office Rescarch Telephone Legal and professional f¢¢s Cornputer ¢osts Travel & n¥)wr B￿k.keepIll￿ accountancy Jndqjendent exarninalion Subscriptions Bank charges and interest Bad debts tkprtciation 24,922 2.922 123,781 2.767 1247 116.691 39.677 3J45 28.017 59.460 120.648 586 9.958 288,298 77.731 3.345 28.017 59,460 123,789 586 29.276 5.580 5.505 95 3.580 34,708 14.759 4,205 11,581 10.148 4.340 101.607 31.054 15.806 75.173 113,280 643 3,141 29.276 5.580 5.505 95 5,269 3.225 4295 4.406 21.316 3,850 3.487 9.069 6.858 4.322 17.864 2.829 52 2.903 3J80 4.877 14.759 29.831 4205 11.581 10.148 4J40 3.718 686 3.473 3.718 686 3,473 15.787 26.473 15.718 1000 1.626 1.592 575 15.787 26.473 15.718 101 1.626 1.592 575 7.518 2.592 11,646 2.000 1.668 2.379 3,047 6.055 4,571 586J57 92S9 213237 4.688 799394 524289 21)23 P4e 14 Afrioao Cultsral Eieb*nge Limited known #5 The Link Dance Space Note8 to the Fillancial StAtemeDts for the Year Ended 31 March 2023 8 ind ¢xpeDse• No trusttes, nor any peTSOth5 c￿nnected with them. llv¢ ￿¢¢iVed any remuner*ion from the charity during th¢ year. No In￿¢S have rwxived any reimbutsed exE*llses frnm the duriti8 the yetr. 9 St•ff costs Th¢ monthly average number of persons (incI￿lD8 5enitiT I k*ktship team) employed by the cknty during th¢ year exprt$5ed full tim¢ ¢¢wival¢nts as folkn￿. 21)23 2022 iyo Salari¢d staff Un￿ld TTLLtrS 14 14 A(1 T•ulion Th¢ charity is a Tegty*rtd ¢baTity ahd is the￿fOrt exempt frDm luatio 11 T*Deibk fixed assets Lgnd #￿d b￿lId1Th Furnituft and equipment Motor vehick5 At l April 2022 Additio 253.965 22,819 1179 22290 299,074 2.179 At 31 M&¢h 2023 253.965 24,998 22290 301,253 DepreeiatSon At l A￿11 2022 Charge forthe 253,965 17.099 3.345 22.290 293.354 3,345 At 31 Mxch 2023 253,965 20.444 296,699 N¢t book v*ly¢ At 31 Marth 2023 4.554 4.554 At31 2022 5,720 5.720 Included wtthin the net book of land and t￿lIding$ al￿ is £Nil (2022 - £Nil) iti respe¢t of freehold land and buildings £Nil (2022- NII) in T¢specl of k￿bOld Py15 AfricaA Cllknr*l E￿￿ts8e Limiled known as The Link DxD¢¢ Space Notes to the FinaDciAI Statements for the Year Ended 31 Mareh 2011 The land & buildings includes sbort Iwehold propffj additi0Tr8 repr¢senliDg expenditure to 31st Mbrch 2015 ott s￿di0 Building5 alterations at Floodgate SL fill￿ed by Arts CouD¢il Engknd. Th¢ Previo￿ l¢as¢ ¢xpired 31st Decernber 2019 and anew on¢ granted for 2 yeaTS and then a 6 mr)Dth bve•k Clause for parties theI￿r. 12 Stock 2023 2022 Finished goods 717 720 13 Dtbknrs 2•23 2(122 TTade d¢btors Prepayments Othcr dcbtor5 Corwation tax refund (Theatretsx credit) )5,598 12,117 1202 1,899 10,417 6,914 76 28.917 19.306 14 Casb •Dd ush ¢4￿1¥•1¢￿￿ 2023 2022 Cash on hand Cth at bank SI￿rt.1¢mi deposits 30 3(647 601.869 76 16.018 641.856 638.546 657.950 IS Creditors: #ll￿U0ts f•lli•g due o*e ye•r 2•23 2022 Trade creditors 21.918 13 4.652 19,108 VAT Other ¢￿dI￿)r$ Ac¢rnals Deferred incon 5.047 ,117 700 5.478 32941 32.972 2(122 Resourceg defeTttd in the period 7CN) P4e 16 Afriean Cultllral Exchange Limited known gs Th¢ Link Danee Space Notes to the Fin*n¢ial Statements for the Year Ended 31 Marcb 2023 16Fw B#l•ttee *¢ I April 2022 B*18￿Ce al 31 Mar£b 21)23 expended Unrestriet¢d fi￿d5 Genttol Accumulated Funds 466.673 563.073 (589.010) 440.736 Development Fund 150.fXIO I50.￿0 Totsl uttrestrided 616.673 563.073 (589.010) 59),736 Rejtritted Esmee F8irburn educ￿ officer E5mee Fairburn Strike a Li8bt Trl¢w Build Bridging Barriers Capitsl Fe&%ibility Creative City NBA 1.c￿6 (31.953) 9.113 4.000 15.01 18.946 4,Th)0 JS.iM) 16J12 14.150 uoo 23 (57J66) {16,150) (8,500) 105267 107.242 1.998 Ttht*l restritkd fllnds 34.051 234.242 219236) 49.057 650.724 797,315 808,246 639.793 Page 17